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Bank customers to declare war on CBN, banks over BVN

…as CBN insists no further extension

UDO ONYEKA Emefiele

Vol. 5 N0. 1235

CBN, and other banks over the Bank Verification Number, BVN, which

attle line may have been drawn between customers, Central Bank of Nigeria,

Tuesday, November 3, 2015

Dasuki knows fate on medical treatment abroad today P.6

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N150

N1.04trn fine

S’Africa stock exchange suspends MTN shares Firm continues discussion with Presidency, NCC

TOLA AKINMUTIMI

he over one decade of MTN stronghold in Nigeria’s and

other countries’ telecommunications market may be seriously threatened in the months ahead following yesterday’s suspension of the Group’s shares

Proposed national carrier unnecessary, says P.7 Arik Air MD

from Johannesburg Stock Exchange, JSE, unless the Board acts swiftly. MTN is Nigeria’s leading telecommunications CONTINUED ON PAGE 2>>

N1bn fine: Judge’s absence stalls IBTC suit against FRC

P.8

Buhari holds secret meeting with Jonathan Former president behind new Biafra agitation –Shehu Sani

P.2

Troops kill four insurgents, clear P.7 another camp in Borno

Former President Goodluck Jonathan (left) and President Muhammadu Buhari, after a closed door meeting at the Presidential Villa, Abuja, yesterday. PHOTO: NAN

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Tuesday, November 3, 2015

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Buhari holds secret meeting with Jonathan ROTIMI FADEYI AND A ZA MSUE

resident Muhammadu Buhari yesterday met behind closed door with his predecessor, Goodluck Jonathan at the Presidential Villa, Abuja. Although details of the meeting, which lasted less than 10 minutes were not made available, it was gathered that Jonathan was in the Villa to brief Buhari on his latest international assignment in Tanzania. The former president arrived the Villa at about 2.00 pm and left at 2.13pm. It would be recalled that Jonathan was mandated to lead the Commonwealth Election Observer Group to Tanzania for its general election. The choice of Jonathan to lead the group was based on the exemplary path he took after the March 28 presidential election by accepting defeat and congratulating his opponent on his victory at the poll. This would be the second time the former President would visit the Presidential Villa to meet with Buhari since he assumed office on May 29. Meanwhile, senator representing Kaduna Central Senatorial zone at the National Assembly, Malam Shehu Sani, yesterday accused Jonathan of being behind new agitation for the creation of Biafra by Movement for the Actualisation of Sovereign State of Biafra, MASSOB. Sani claimed that the new Biafra agitators were merely executing the ‘Plan B’ of pro-Jonathan forces. He said the plot was to destabilise the President Muhammad Buhari-led All Progressives Congress, APC, administration. He appealed Nigerians to be patient with the president as he clears the 16 years rots of the Peoples Democratic Party, PDP. Sani, who spoke to journalists in Kaduna, said the so-called Biafra agitators were aggrieved that the former president, who

they considered theirs lost the 2015 presidential election and conceded defeat.

He new only ceive

stressed that the agitation was not misguided, ill-conand ill-fated but an

ill-wind that blow no one any good. Sani maintained that the agitation was not the

true reflection of the Igbo or the South-East people, pointing out that the future of the people of that

zone is better guaranteed and sustained within a united Nigeria. CONTINUED ON PAGE 5>>

Winner of the 15th Most Beautiful Girl in Abuja, Miss Debbie Douglas (middle) and runners-up, during the finals of the event in Abuja, at the Weekend.

PHOTO: NAN

S’Africa stock exchange suspends MTN shares CONTINUED FROM PAGE 1

services provider with 67 million subscriber base. With the suspension of the shares, the company’s stock fell as much as eight per cent. The suspension of the stocks is directly connected to the $5.2bn fine recently imposed on the telco by the Nigeria Communications Commission, NCC, the industry regulator in Nigeria over its failure to disconnect unregistered users The stock has fallen more than 25 per cent in the past seven sessions, wiping in excess of 60 billion rand ($4.4bn) off its market value. After trading resumed hours later, MTN shares were down 5.9 per cent at 148.51 rand. They earlier touched a three-year low of 142.50 rand. A statement by Peter Redman of the exchange’s surveillance department, confirmed the suspension of MTN shares and that the information was broadcast across the trading platform. Last Friday JSE had an-

nounced that it was investigating MTN over how it made the announcement of its Nigerian fine which, it stated, was made public by the erring company on Monday October 26 after media reports about the situation emerged that morning in Nigeria. JSE said it was also investigating possible insider trading at MTN by studying trades made before the MTN SENS announcement on October 26. Some traders at JSE speculated that the stock tumbled due to speculation the company had agreed to pay the fine, which may wipe out more than two years of MTN’s annual profits. Another analyst and Afrifocus Securities portfolio manager, Ferdi Heyneke, said that there had “been some speculation that the company has agreed to pay the fine, but we really want to hear it from the company itself.” However, MTN Group maintained the management was still engaging the Nigerian authorities on discussions, assur-

ing its shareholders and subscribers that “developments in these engagements will be communicated to shareholders through SENS,” The company over the past week has been in talks with the Nigerian presidency, internal security agency and NCC to resolve the matter, according to a regulatory source. To demonstrate its commitment to timely resolution of the problem, MTN Chief Executive Officer, Sifiso Dabengwa, flew to Abuja with a view to negotiating for reduction in the penalty imposed on his company. NCC had last Friday gave MTN two weeks to pay the fine or face further sanctions. Meanwhile, the N1.04trn fine on the leading telco has continued to generate industry-wide controversy, with the Association Telecommunications Companies of Nigeria, ATCON, describing it as outrageous and uncalled for. President of the Association Telecommunications Companies of Nige-

ria, ATCON, Lanre Ajayi, noted that sustained financial sanctions by the industry regulator may not augur well for the industry and called the Commission to have a rethink on the issue. The latest fine on MTN came barely less than two weeks after the company reconnected 3.4 million subscribers out of the 5.1 million subscribers that were disconnected in August, following directive by NCC on what it termed improper SIM registration. NCC alleged that MTN had pre-registered SIM cards in their systems, which made it impossible to verify the personal details of subscribers by utilising their biometric attributes, thereby compromising national security. But ATCON, the umbrella body of telecommunications companies operating in the country, pointed out that though it did not support the actions of the operator, but that the use of fines was no longer serving its purpose.

The association had earlier queried the rationality of imposing fines on the telcos, particularly when mobile operators were fined over quality of services. However, some of the telcos’ subscribers who spoke with our correspondent endorsed NCC’s action based on what one of them called ‘insensitivity of the company to subscribers’ complaints on drop calls and poor voice services” One of them, Sola, told our correspondent that whatever NCC can do to recover some of the “charges imposed on subscribers on calls that either drop or remain unclear during conversation should be recovered from the operator.” It would be recalled that in September, NCC also sanctioned Airtel, Etisalat, Globacom and MTN for having pre-registered SIM cards in their systems. While MTN, which has over 62 million subscribers on its network, was asked to pay N102.2m; Glo-

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Tuesday, November 3, 2015

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Tuesday, November 3, 2015

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L-R: Glo subscriber, Ayobami Odedina; Marvin Record artiste/Glo brand ambassador, Korede Bello and another subscriber, Demilade Eko, at the Ikeja edition of Glo Slide ‘n’ Bounce concert in Lagos, on Saturday.

L-R: Former Super Eagles player, Victor Ikpeba; beneficiary of Nigerian Bottling Company’s (NBC) Ltd women empowerment initiative, Gift Ogbebor; Public Affairs Manager, Lagos and West, NBC, Ifeoma Okoye; another beneficiary, Ifunaya Johnson and Corporate Communications Manager, NBC, Akomen Omijeh, during the presentation of branded kiosks with free coolers and drinks to selected women at the Copa Coca-Cola tournament in Lagos.

L-R: Arik Air Chief Pilot, Capt. Adetokunbo Adekunbi; Managing Director, Risk Analyst Insurance Brokers Ltd, Mrs. Funmi Babington-Ashaye; Managing Director, Arik Air, Mr. Chris Ndulue; Managing Director, OldMutual, Nigeria General Insurance, Mrs. Rachel Emenike and Assistant Vice President, Sales and Distribution, Arik Air, Mr. Trevor Henry, during Arik’s 9th anniversary press conference/launch of Travel Insurance in Lagos, yesterday. PHOTO: ADEYANJU OLOWOJOBA

L-R: Executive Secretary, Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo; Comptroller-General, Nigerian Customs Service, Col. Hameed Ali and Assistant Comptroller-General, Mrs. Grace Adeyemo, during Ali’s working visit to NEPC in Abuja, yesterday. PHOTO: ROTIMI OSASONA

National News Udeme AkpAn

here are strong indications that the spate of blackout being experienced in some parts of the country, particularly in Lagos, Ogun and Oyo states may not be over soon. This is because of the huge indebtedness totalling about N39 billion Electricity Distribution Companies, DISCOs, owe Egbin power station, one of the primary power generation companies in the country. The development, according to report, is already hampering the latter’s capacity to generate power. The Egbin Power generation station had about a month ago announced for the first time, its peak generation capacity of 1,000 megawatts, following huge injection of capital and other critical resources by its private investors. However, the capacity dropped by about 40 per cent three weeks later to 600mw due to shortage of gas supply. Chairman of the company, Mr. Kola Adesina, yesterday confirmed the

Power generation under threat as DISCOs owe Egbin Station N39bn

huge indebtedness owed the company from November 1, 2013, to date by the Discos. Adesina during a chat with journalists particularly lamented the huge debt burden, which he attributed to failure by government to seal the Power Purchase Agreement, PPA, with power Generation Companies, Gencos, nationwide. He confirmed that his company had fulfilled all performance agreement entered into with government upon acquisition of the plant in November 2013. Despite some challenges, he disclosed that the management was planning to raise the plant’s capacity by additional 1,350mw to hit 2,670mw by 2019. Noting that about $1.3 million would be spent on the proposed expansion programme of the plant, the power generation investor recalled that the 1,100 mega watts capacity Egbin plant

was in deplorable situation and generating about 500mw prior to its privatization. “The plant before then did not undergo any major overhaul, the six units were not functional and in particular unit six was not working for 10 years. But to date, we have rehabilitated all units and currently generating 1,100mw,’’ he said. He also disclosed that the company had embarked on

feasibility study and Environmental Impact Assessment, EIA, to ascertain the feasibility of the expansion project, adding that the Front End Engineering, FEE, which is to put all in perspective with the Engineering Procurement Contract; EPC, has also been carried out. Adesina said the management had significantly secured the facility to avert infringement by unauthor-

ised persons. “We now have in place new distribution control system of global standard, fire alarm detection system that was not in place earlier and have installed gas meter system to capture quantum of gas received. We have also improved on our operational performance, but government is still owing us for electricity generated,’’ he lamented. According to him, no

matter how keen an investor may desire to transform the country, the necessary zeal will be lost when an investor doesn’t get paid for services rendered. Recalling the forex exchange rate between the time the Egbin plant was acquired and now, the Genco’s chief pointed out that the exchange rate, which was N158 to a dollar when the plant was acquired, has gone up toN199.5 to a dollar.

Telecoms: 40,719 porting activities occurred in September –NCC

igerian Communications Commission, NCC, on Monday said telecoms operators engaged in 40,719 mobile number porting activities in the month of September.

This is contained in the ‘Incoming and Outgoing Porting Activities of Mobile Network Operators’ report obtained by the News Agency of Nigeria,

NAN, in Lagos. The report showed that there was an increase of 1,646 in the Mobile Number Portability, MNP, activities in the month of September, in contrast to 39,073 activities recorded in August. It said out of the 40,719 porting activities recorded in the month under review, 20,349 were incoming porting activities, while

20,370 were outgoing. The report indicated in the outgoing table that telecommunications giant, MTN Nigeria, lost 12,259 subscribers to other networks through the MNP activities in September. According to the report, MTN is the worst-hit during the exercise, followed by Airtel Nigeria, which lost 3,635 customers in the

month under review. It explained that Globacom lost 3,212 subscribers, while 1,264 customers of Etisalat Nigeria ported to other networks in the period under review. In the incoming table, the report showed that Etisalat enjoyed the exercise the most as it led with an additional 12,898 customers on its network in September.

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Tuesday, November 3, 2015

Bank customers to declare war on CBN, banks over BVN CONTINUED FROM PAGE 1

enrolment ended on Saturday, 31st October. Already, many Nigerians could not access their accounts, even those who have registered. CBN said yesterday that while it has extended and enrolment for Diaspora Bank customers to January 31, 2016, customers resident in Nigeria would not have access to their account until they obtain and attach BVNs to the accounts. But, the Chairman of Bank Customers Association of Nigeria, BCAN, Dr. Uju Ogubunka, said the association was meeting this week to, among other things, marshal out course of action to protect customers’ right to full and unrestricted access

to their account, irrespective of their BVN status. Ogubunka, a former Registrar of the Chartered Institute of Bankers of Nigeria, CIBN, said BCAN was not opposed to BVN, but it would not allow the rights of its members to be abridged by any policy to the extent of denying any bank customer access to his or her account. He also explained that many bank customers may have been unable to comply due to one reason or the other, adding that such should not automatically lock the customer out of his or her bank account. In adherence to the CBN time on BVN enrolment several banks had sent out messages to

their customers last week warning that access to their accounts would be barred unless they were BVN compliant by October 31. Investigations by our correspondent reveal that banks customers without BVN were denied access to their accounts. It was also gathered that as at last week about 20.8 million bank accounts have been registered in the BVN as against about 52 million active bank accounts. Ogubunka, admitted that many people have more than one account, adding however that the figure of 32 million (over 60 per cent), non-compliant account was too large to be attributed to multiple account holding.

“We have called an emergency meeting of BCAN executives to review the situation, among many other industry issues, affecting bank,” he stated. CBN, in a statement signed by Director, Corporate Communications, Alhaji Ibrahim Mu’azu, said it has heed the call of Nigerian Bank customers in the Diaspora, and therefore extended the timeline of enrolment for their BVN for another three months. While emphasising that the extension was only for customers in the Diaspora, the statement advised Deposit Money Banks, DMBs, to ensure that the exemption was utilised by the targeted group. CBN also expressed

L R: Counsel to National Security Adviser to former President Goodluck Jonathan, Col. Sambo Dasuki; Mr. Ahmed Raji (SAN); former National Security Adviser to the president, Col. Sambo Dasuki and former Sokoto State Governor, Alhaji Attahiru Bafarawa, at the Federal High Court in Abuja, yesterday. PHOTO: ROTIMI OSASONA

Buhari holds secret meeting with Jonathan CONTINUED FROM PAGE 2

“The Igbos have made tremendous progress since after the civil war. They have made successes as businessmen, as entrepreneurs, as academics and as politicians,” he added. According to Sani, the secessionist activity of the Biafran group is a hopeless course by people in search of attention and has nothing to do with the good people of the SouthEast. “As long as we realise the change agenda, entrench good governance and run an all-inclusive

government, the Biafran agitation will naturally fizzle out. “Nigerians must be patient enough with President Muhammadu Buhari’s administration. “The new agitation for Biafra is a misguided, illconceived and ill-fated course. It is an ill-wind that does no good to those people who are blowing it or to Nigeria as a whole. “The Biafra agitation is a new attempt to destroy President Mohammadu Buhari’s administration and to ignite a national conflict and cause chaos, pandemonium and confu-

sion in the country. “I see it as a plan ‘B’ action of pro-Jonathan forces that lost the 2015 election. I will also say that the agitation is not reflective of the interest and generality of the Igbo people or the South East. “The second category is desperate forces hiding behind the Biafran agitation to undermine our national unity and attempt to destroy the Muhammadu Buhari’s administration. “So I will say this in clear terms: Nigeria is an indivisible entity under the green white green and we have since gone beyond

the issue of the civil war,” Sani, who is also the President of the Civil Rights Congress of Nigeria declared. The pro-democracy activist maintained that the people of the area have the rights within the ambit of the nation’s constitution to demand to be recognised and respected as equal partners in the Nigerian project. “But the agitation must be within the ambit of respect for the indivisibility of Nigeria and the constitution of the Federal Republic of Nigeria,” he added.

satisfaction with the progress made in the implementation of the BVN project, especially for accounts operated by Nigerians at home. He insisted that with the expiration of the October 31, enrolment deadline, bank accounts of Nigeria residents without the BVN would continue to receive cash and electronic credit inflows and would neither be deactivated nor confiscated. Such accounts, it added, would be operated as “No Customer Initiated Debit” account, until the account holders obtain and attach BVNs. “This means that a customer may not be allowed to withdraw money from his or her account until the BVN has been acquired and linked to the account,” he said. The statement therefore advised deposit money banks to educate their customers accordingly. The CBN also advised banks to remind their customers of the need to link their BVN with their accounts if they had done the enrolment at another bank. CBN, in its last week’s statement, had downplayed the calculations that 32 million accounts had not been registered, but admitted that some customers were yet to link all their accounts to their BVN. On the 32 million unregistered accounts, Mu’ azu explained that CBN

believed that since most bank customers maintain multiple accounts, the linking of all the accounts would give an average of about 40 million captured in the BVN net, adding that “we are home and dry.” He also noted that a move round the banks, during the last day of the week, showed there were no queues of customers on BVN lines in the banking halls, indicating, according to him, that most bank customers had complied. The apex bank also said that if anyone had not enrolled for BVN, it cannot be attributed to lack of facilities, but out of his/her individual volition and that by all indications, it can be safely said that the BVN exercise by the Bankers’ Committee in collaboration with CBN had proved rather successful. CBN, in collaboration with the Bankers’ Committee, introduced the BVN on February 14, 2014. The initiative was aimed at ensuring unique identity for all bank customers and other users of financial services in the country by the use of the customers’ biometrics as means of identification. The exercise was initially planned to end June 30, 2015, but was extended to October 30 due to public outcry that many bank customers, especially Diaspora customers had not been registered.

S’Africa stock exchange suspends MTN shares CONTINUED FROM PAGE 2

bacom was slammed with N7.4m; Etisalat N7m and Airtel N3.8m. However, NCC insisted that the practice of using biometrics for SIM card verification not only worked as a proof of ownership credential, but it also created a sense of accountability among SIM card owners to not use their mobile phones in any kind of criminal activities. On the latest fine, the MTN Group in a statement issued by the South African headquarters confirmed that it had commenced discussions

with the NCC to resolve the matter in recognition of the circumstances that prevailed with regard to the subscribers. It stated: “The Nigerian Communications Commission, NCC, imposes fine on MTN Nigeria: Shareholders are advised that the NCC has imposed a fine equivalent to $5.2b on MTN Nigeria. “This fine relates to the timing of the disconnection of 5.1 million MTN Nigeria subscribers who were disconnected in August and September 2015 and is based on a fine of N200, 000 for each unregistered subscriber.”

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Tuesday, November 3, 2015

Nigeria needs 237,000 medical doctors –ACMN

hairman, Association of Colleges of Medicine of Nigeria, Prof. Folashade Ogunsola, said Nigeria needs no fewer than 237,000 medical doctors to meet World Health Organisation, WHO, standard. Ogunsola, disclosed this at the opening of a threeday Capacity Development Programme for Bachelor of Medicine, Bachelor of Surgery, MBBS, Academic Staff in Nigerian Universities organised by National Universities Commission, NUC, in Abuja yesterday. According to her, WHO’s ratio for any country to have enough doctors for its population is 1:600 (one doctor to every 600 persons), but Nigeria falls short of it. “We will need about 237, 000 medical doctors and we have about 35,000 working in the country today. “We have trained more than that, many of them have left the country, while many others are in different professions -- banking, music and so on. “Medicine is about life; it is the duty of the medical schools to produce people with competences; skills to manage patients. “Assuming no doctor leaves this country after being trained; going by the number coming from our medical schools every year, it will take us about 100 years to have the number of doctors we need,” she said. Ogunsola, who lectures at the College of Medicine, University of Lagos, said aside that number, the quality of doctors was crucial. According to him, medical schools have quotas at present -- the number of students they can admit because they can only train with the facilities they have. The professor said the Medical and Dental Council of Nigeria, MDCN, and NUC were interested in the quality of doctors produced

in the country. According to her, to stem the tide of exodus of medical doctors, there is the need to have a policy on healthcare in order to detach politics from healthcare. She said globally, a doctor is the head of the medical team, adding that it did not mean that others were subjugates as they all must work together. Ogunsola advocated a joint training of doctors and other medical workers at medical schools so that they learn how to work together from the onset. She also identified lack of job satisfaction as another reason why doctors exit the profession and called for a review of working conditions and upgrade of hospitals. Earlier, Prof. Julius Okojie, NUC’s Executive Secretary, said the essence of the workshop was to revisit the Bench Mark Academic Standard, BMAS, for medicine.

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Journalists ask Buhari for financial bailout to media industry ...urge FG to come up with clear economic policy Ubong Ukpong, ABUJA

ournalists in Abuja have asked President Muhammadu Buhari, to as a matter of urgent public importance, initiate a financial bailout to media industry to solve the noticeable funding crises in the sector. The journalists in their hundreds rose from the monthly congress of the Nigeria Union of Journalists, NUJ, Federal Capital Territory, FCT, Council at the weekend, to canvass the bailout among other serious issues af-

fecting the nation. In a five-point communiqué, released by the Secretary of the Council, Rafat Salami, the congress presided over by its newly inaugurated Chairman, Paul Ella Abechi said the call for the bailout became necessary because some media outfits have not been able to pay their workers for months. “Congress called on the Federal Government to, as a matter of urgency, initiate a financial bailout package for the Nigerian Media Industry, particularly those who have been unable to meet their salary obligations to staff. “It notes that as a result

of the current economic downturn, a great number of media houses are finding it particularly difficult to survive in the market. “Many of them currently owe arrears of salaries ranging from three to 23 months,” the communiqué said. It noted that Nigerian journalists worked under intolerable conditions, which non-payment of salaries was further aggravating. In this wise, the NUJ suggested a “conditional grants/loans to media owners/proprietors who owe staff within the sector with feasible repayment plans.”

Managing Director, NICON Insurance Ltd, Mr. Bayode Samuel (right) receiving a plaque from Corps Marshal, Federal Road Safety Corps, Mr. Boboye Oyeyemi, during a courtesy visit in Abuja, yesterday.

Dasuki knows fate on medical treatment abroad today National Mirror Wednesday 4, 2015 yesterday, up for hearing med Sambo Dasuki to en-, November www.nationalmirroronline.net

DoosUUr Iwambe ABUJA

ustice Ademola Adeniyi of the Federal High Court sitting in Abuja will today decide whether to release the international passport of former National Security Adviser, NSA, Col. MohamCHANGE OF NAME Formerly known and addressed as Monsurat Abeke Hassan, now wish to be addressed as Monsurat Abeke Oyedokun. All former documents remain valid. SUBEB and general public take note.

able him embark on medical treatment abroad or not. Also today, the court will decide whether to shield the identity of prosecution witnesses in the case as well as grant them access to non-public route to and from court premises. When the matter came LOSS OF IDENTITY CARDS This is to inform the general public that the following Identity Cards belonging to Mr. AUWALU FAROUK MOHAMMED; U.S Residence Card with number A096720-767 and U.S Social Security Card are missing. All efforts to trace the lost identity cards proved abortive. If found please contact Mr. AUWALU FAROUK MOHAMMED on 0803-304-6972 or the nearest police station.

counsel to Dasuki, Joseph Daudu, SAN, prayed the court to release the passport of the accused to enable him travel out of the country for medical checkup. While arguing the motion for the release of the passport, Daudu told the court that the only reason for bail for an accused person is to secure his attendance for trial. He urged the court to grant his client’s request for the release of his passport for medical treatment

abroad. While opposing the application, prosecution counsel, Mohammed Diri in his argument told the court that the ailment for which the applicant is seeking the release of his international passport to travel abroad can be treated here in Nigeria. He further argued that apart from illegal possession of firearms, the accused person is also been charged for money laundering offences. “He (Dasuki) was granted bail on the condition that

he will deposit his international passport with the registrar of the court and if it is release to him, he will be on bail on no condition,” he said. Dasuki was last week Monday re-arraigned on amended five count charges. The amended charge was brought pursuant to section 104 and 379 of the Administration of Criminal Justice Act, 2015 and filed in court by counsel to the prosecution, Shuaibu Labaran. After the five-count charge was read to Dasuki,

The union also called on government to as a matter of urgency and national importance, address perennial clashes between Fulani herdsmen and farmers along grazing routes across the country. It observed that such clashes have claimed thousands of innocent lives and caused distress to even elder statesmen like Chief Olu Falae. The union urged the Federal Government to immediately create and maintain grazing land and routes on dedicated lush pastures as well as address the humanitarian crises in the regions where they have occurred. While commending the decision not to further devalue the naira, the union urged government to remain resolute in its resolve as international financial institutions, including portfolio investors will keep pushing for a reversal of such nationalistic stance in their selfish interests. NUJ expressed strong opposition to the current regime of increased electricity tariff by the Nigeria Electricity Regulatory Commission to as high as 40 per cent without commensurate increase in salaries and income of workers. It equally noted the poor quality of services provided to Nigerians by distribution companies, which speak clearly against upward adjustment of tariffs.

he pleaded not guilty, 51 and was allowed bail under previous term. In a similar vein, the Federal Government filed a motion on notice, duly signed by the Director of Public Prosecution, DPP, of the Federation, seeking secret trial of the accused person. The application dated 12th October is seeking an order granting all prosecution witnesses access to non-public route to and from the court premises and courtroom as well as use of private witness room.

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Ondo police arrest 4 kidnap suspects OjO Oyewamide AKURE

our suspected kidnappers of a 53-yearold woman, Mrs Eralkhuemen Unulkiere, have been arrested by men of the Ondo State Police Command. The four suspects include Tosin Adenikiju, Abiodun Olabowale, Omoniyi Akinsoyimi and Olatunji Igbekele. They were alleged to have all confessed to the crime after the woman was rescued from their custody. Eralkhuemen, who is a member of staff of Rubber Estate Nigeria Limited, Araromi Obu, Odigbo Local Government Area of the state, was abducted about three weeks ago. The kidnappers demanded N35 million ransom for the woman’s freedom.

News 7

Tuesday, November 3, 2015

But detectives were able to arrest the suspects while negotiating with family of the victim. Police Public Relations Officer, PPRO, Femi Joseph, disclosed that the four suspects were arrested in the creeks by detectives, who had been on their trail for some days. He said: “The suspects were nabbed through wellcoordinated intelligence gathering and the woman was rescued last night unhurt and without any ransom paid.” According to Joseph, the Anti-kidnap Squad led by DSP Onabanjo Adekunle, was on the trail of other members of the syndicate, who are still at large. The police image maker, however, said the four suspects would be arraigned in court soon.

Troops kill four insurgents, clear another camp in Borno UbOng UkpOng ABUJA

roops of the Nigerian Army have killed four Boko Haram insurgents in a fierce gun battle, clearing additional terrorists’ camp in Duwabafi Primary School in Borno State.

This was contained in an operational update by the Nigerian Army through its Director of Army Public Relations, DAPR, Colonel Sani Usman. Usman said the success was achieved by the troops from 243 Battalion, 5 Brigade, Nigerian Army. He said the troops were

on fighting patrol when they encountered some suspected elements of Boko Haram terrorists “holed up at a primary school in Duwabafi village, Borno State, on Sunday. “There was heavy exchange of gunfire in which the patrol killed 4 suspected Boko Haram terrorists.”

The DAPR said two AK47 rifles, four various sizes of solar energy panels, several types of drugs and five motorcycles were recovered from the terrorists. He said the patrol has returned to base and further restrategising for more onslaughts on all remaining vestiges of Boko Haram elements within the area.

IDPs to get 200,000 cook stoves, solar lights

nternational Centre for Energy, Environment and Development, ICEED, says it is set to partner with international agencies to distribute 200,000 Clean Cookstoves to Internally Displaced Persons, IDPs, in the North East. Mr Ananthakrishnan Subramonia, Senior Associate, ICEED, said this in an interview with the News Agency of Nigeria, NAN, in Abuja at the weekend. Subramonia said ICEED had begun discussions with national and international agencies in the development of a partnership to adopt international standards on Safe Access to Fuel and Energy, SAFE. He explained that the project, which would be under the SAFE Nigeria Initiative, would strengthen supply of Clean Cooking stoves and solar lights to IDPs and create an inclusive value chain. According to Subramonia, the partnership would be with various UN agencies to provide non-food items to IDPs and households in the region by the end of 2018. He said the distribution would begin in January, adding that the project was aimed at empowering IDPs and mitigating conflicts within such communities. He also added that the project would enhance the demand for the stoves, create awareness and train humanitarian partners of SAFE best practices.

He recalled that the centre in collaboration with the Nigerian Alliance for Clean Cookstoves, National Emergency Management Agency and FCMB Bank in 2014 distributed Cookstoves to IDPs around Abuja. He noted that the effort revealed significant demand for cooking and lighting solutions among IDPs. Subramonia said that partner agencies would include United Nations High Commissioner for Refugees, United Nations Office for the Coordination of Humanitarian Affairs, Food and Agriculture Organisation and International Organisation for Migration.

L-R: Commander, 2 Brigade, Nigerian Army, Brig.-Gen. Stevenson Olabanji; Assistant Inspector-General of Police in Charge of Zone 6, Mr. Baba Bolanta and Commissioner of Police for Rivers, Mr. Musa Kimo, during a news conference on security, in Port Harcourt, yesterday. PHOTO: NAN

Protect your votes in Kogi, Bayelsa, PDP charges members ObiOra ifOh ABUJA

eoples Democratic Party, PDP, has charged its members and supporters to be on the alert and ready to defend their votes in the forthcoming elections, especially the November 21 and Decem-

ber 5 governorship elections in Kogi and Bayelsa states, respectively. PDP National Publicity Secretary, Chief Olisa Metuh, in a statement on Monday said the call has become necessary following the continuous violation of electoral rules and intimidation of opposition

Proposed national carrier unnecessary –Arik Air MD OlUsegUn kOiki

anaging Director of Arik Air, Mr. Chris Ndulue, has said the proposed plan by the Federal Government to re-establish a national carrier for the country few years after liquidation of the former Nigeria Airways was unnecessary. He also commended the government for rejecting further devaluation of the naira against major global currencies. Speaking with aviation correspondents at the airline’s headquarters at the Murtala Muhammed Airport, MMA, Ikeja, Lagos, yesterday during the

ninth year anniversary of the airline, Ndulue insisted that rather than establish another national carrier for the country, government should build on the existing ones. On the exchange rate, he lamented that the sharp drop of the country’s currency was having an untold effect on players in the sector. He noted that most transactions in aviation are import-based and lauded the government for jettisoning the idea of naira devaluation. He, however, hoped that in the next few months, naira would be stable while

players in the airline subsector would benefit more. He recalled that Arik Air had commenced flight operations on October 30, 2006 with only four aircraft CRJ 900, Boeing 737-300, but had grown the fleet to 28 aircraft. Besides, he explained that the airline now flies to 19 domestic, 12 regional and international destinations and airlifted 17, 304,741 passengers in nine years. On the launch of its customised domestic travel insurance, he said the airline was in partnership with Old Mutual Insurance Company and Risk Analysts Insurance Brokers.

by the APC Federal Government, as manifested in the conduct of the Borno Central Senatorial byeelection. The party said the byeelection falls short of all acceptable standards and was characterised by high-level manipulations by the APC, which used compromised electoral officers and security forces to muscle votes in its favour. “We have repeatedly alerted Nigerians that our democracy is under threat in the hands of the President Muhammadu Buhari’s APC government. Last Saturday’s Borno Central Senatorial bye-election, where compromised electoral officials and security forces were brazenly used to intimidate the electorate and write votes for the APC has brought this to the fore. This barefaced rape on our democracy is completely unacceptable and must not be allowed to continue in the country. “In the light of this therefore, the national leadership of the PDP charges all our members and sup-

porters across the country, especially in Kogi and Bayelsa states to be on the alert ahead of the November 21 and December 5 governorship elections and use every lawful means as citizens of Nigeria to protect their votes and ensure that no one, no matter the force or manipulation, is allowed to subvert the will of the people. “As a party that nurtured and sustained democracy and the unity of the country for 16 years, during which we strengthened the safety net of ‘one man, one vote’, we insist that the sanctity of the ballot box and the overall electoral process must be upheld at all levels and at all times. “While we reject the processes associated with the conduct and outcome of the Borno Central Senatorial bye-election, we wish to state in the strongest possible terms that the PDP will never, by an means whatsoever, allow a replay of such heinous manipulations in the forthcoming governorship elections in Kogi and Bayelsa states.”

South West

Tuesday, November 3, 2015

N1bn fine: Judge’s absence stalls IBTC suit against FRC wale igbintade

earing in a suit filed by Stanbic IBTC Holdings Plc before a Federal High Court sitting in Lagos against the Financial Reporting Council, FRC, was stalled yesterday due to absence of the trial judge, Justice Ibrahim Buba. Stanbic IBTC Holdings Plc had dragged the council before a Federal High Court sitting in Lagos over N1billion recommendation fine. No reason was given for the absence of the judge, but the registrar adjourned the suit till tomorrow (November 4) for mention. In the suit, IBTC is ask-

ing the court to determine, among others, whether FRC has the power to impose a fine of N1 billion on it. FRC had last week sanctioned Stanbic IBTC over its audited accounts for 2013 and 2014 and suspended the Financial Reporting Numbers of the bank’s Chairman, Mr. Atedo Peterside, and its chief executive, Mrs. Sola David-Botha. The council also barred them from vouching for the integrity of any financial statements in Nigeria. FRC also suspended two other directors, Mr. Arthur Oginga and Dr. Daru Owei for attesting to what it termed the “misleading” 2013 and 2014 financial accounts of the bank, as well as

Ayodele Othihiwa of KPMG Professional Services for his firm’s alleged complicity in the infractions highlighted in the financial reports for the two-year period. It based its sanctions on issues raised by the bank’s minority shareholders led by the Mahtani brothers who own the Churchgate conglomerate, to some other regulatory agencies such as NOTAP, Securities and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN, among others. The council stated that it met with NOTAP on September 1, 2015 and also exchanged several correspondences on the matter thereafter. The bank is asking the

court to determine whether or not, FRCN has the power to license directors and other office holders of public interest entities and if it also has the power to suspend the said license by suspending a director or other office holder of a public interest entity. It also wants the court to determine if the council has the power to bar any director or other office holder from signing the entity’s financial statements without informing the affected director or other office holder what he/she has done wrong and giving him/her the opportunity to show cause why disciplinary action should not be taken against him?

National Mirror www.nationalmirroronline.net

Masquerades lead protest against rumoured school merger in Osun bOladale bamigbOla OsOgbO

ndigenes of Esa-Oke, a town in Obokun Local Government Area of Osun State, led by some masquerades, yesterday, held protest against the rumoured plans to merge the College of Technology located in the town with another institution. The protesters, who barricaded entrance of the institution and prevented students and lecturers from entering the campus, vowed to resist any plan to merge the college with any other institution.

Lagos shuts 33 illegal pharmacies, patent medicine stores Francis suberu

L-R: Zonal Mummy, Alpha/Omega Zone, Pastor Atinuke Odesanmi; Area Pastor, New Jerusalem Area, Pastor Tolulope Tade and Area Mummy of Alpha/Omega Area, Pastor Aderonke Ajibodu, during the Good Women Anniversary of Redeemed Christian Church of God, River of Life Parish, Lagos Province, in Lagos, on Sunday.

Kemi Olaitan Ibadan

anagement of The Polytechnic, Ibadan, on Monday, described the appointment of Ooni-elect, Prince Adeyeye Enitan Ogunwusi, as a pride to the institution. The polytechnic in a statement signed by Registrar of the institution, Mr. Hezekiah Ayodele, said the choice of Ogunwusi was based on his pedigree, antecedents and unparalleled achievements in many spheres of life. The statement read in part, "The management of The Polytechnic, Ibadan, has congratulated Prince

Ooni-elect, a pride to Ibadan Poly —School management

Adeyeye Enitan Ogunwusi, an alumnus of the institution, on his appointment as the Ooni-elect. His appointment is a pride to The Polytechnic, Ibadan. "His appointment has further confirmed the capacity of The Polytechnic, Ibadan, as a first class institution, which has trained many distinguished Nigerians, including the incumbent governor of Osun State and Ekiti, Ogbeni Rauf Aregbesola and Peter Ayodele Fayose, respectively.

“The management has no doubt that the choice of Ogunwusi was based on his pedigree, antecedents and unparalleled achievements in many spheres of life.

OjO Oyewamide akure

awyers in Ondo State yesterday boycotted the 2015 Legal Year celebration held in Akure, the state capital. They demanded the immediate sack of the state’s Chief Judge, Justice Olasehinde

"While congratulating the Ooni-elect, the management prayed to God to give him the wisdom to pilot the affairs of the ancient city to greater heights."

o fewer than 33 illegal pharmacies and patent medicine stores have been shut so far by the Lagos State Task Force on Counterfeit and Fake Drugs and Unwholesome Processed Foods in Ojo area of the state. Special Adviser to the Governor on Primary Health Care, Dr. Olufemi Onanuga, who disclosed this yesterday while reviewing report of the recent raids by the agency in the state, explained that the exercise was coming on the heels of the war against fake and expired drugs as well as operators of illegal pharmacies by the state government. Onanuga explained that the 33 outlets were sealed off for various offences contrary to the provisions of the law on the operation of pharmacies and patent medicine stores in Lagos State, adding that the task force has a renewed mandate to comb every nook and cranny of the state to fish out illegal patent medicine shops and

Lawyers want Ondo CJ sacked, shun legal year celebration Kumuyi, saying he had made life difficult for them. The aggrieved lawyers, who had earlier this year embarked on an industrial action for about six months, alleged that Olasehinde had

Speaking with newsmen, the Owamiran of Esa-Oke, Oba Adeyemi Adediran, said the protest was peaceful and meant to impress it on government not to merge the institution with any other. The monarch advised government to refrain from any plan to move the institution out of the town, saying indigenes will not allow such to happen. But Osun State government has since dismissed any plan to merge the institutions, explaining that it only plans to restructure them for better efficiency.

commercialised the judiciary in the state. The legal practitioners threatened to continue to boycott all court activities presided over by the Chief Judge until he leaves.

pharmacy operators. The special adviser noted that the sealing of fake pharmaceutical premises was in accordance with the provision of Chapter C34 of the Counterfeit, Fake Drugs and Unwholesome Processed Foods (Miscellaneous Provision) Act of 1999, Number 25. Onanuga added that the raid was necessitated by the persistent defiance of government's stipulated regulations on drug production, importation, manufacture, sales or display for sales, hawking, distribution, adulteration, and possession of drugs by illegal operators. He said some of the shops were sealed for selling drugs without license from the regulatory authority or failure to relocate from a market area and adhere to the mandated distance between a patent medicine shop and market place as stipulated by the law. He also said some of them were sealed for selling counterfeit and fake drugs. Affected patent medicine stores and unregistered premises include; Aston H. Pharmacy located at 17, Baale Street, Igbo-Elerin Road; Clint Kim & Moore Mart Pharmacy at 38a, Igbo Elerin Road; Bonalink Pharmacy at KM 4, LASU-Isheri Expressway; UNC Choice Supermarket at 40, Great Challenge Road, Iyana Iba; Ocean of Life Pharmacy & Stores at 6, Adaloko Road, Abule-Era, Ojo; and Dounthing Pharmacy at Unity Estate, Iba Ojo.

National Mirror www.nationalmirroronline.net

South West

Tuesday, November 3, 2015

Man bags 10 years for drug trafficking Wale IgbIntade

L-R: Advisory Partner/Chief Economist, PwC Nigeria, Dr. Andrew Nevin; Chairman/CEO Elizade Nigeria Ltd, Chief Michael Adeojo (OON); Partner and CIPS Leader, PwC Nigeria, Edafe Erhie and Chairman, Automobile/Allied Sectoral Group, Dr. Oseme Oigiagbe, during the symposium/luncheon of the Automobile and Allied Products Group of Lagos Chambers of Commerce and Industry, in Lagos, recently.

Group seeks volunteers to ease traffic congestion in Lagos …distributes free 570 traffic jackets

FrancIs suberu

eeved by the return of traffic congestion in Lagos metropolis in recent times and the failure of government to take proactive measures to curb the trend, a socio-political organisation under the auspices of National Image has launched an initiative tagged the ‘Lagos State Traffic Control Volunteers’ to help check the menace. The initiative, which was launched at the Lagos Secretariat, Alausa, Ikeja, yesterday, aims at recruit-

ing volunteers from all the 57 local governments and local council development areas in the state to help control traffic in their areas to engender free flow of traffic. According to coordinator of the group, Mr. Seyi Bamigbade, the initiative would pave the way for individuals willing to collaborate with relevant government agencies to eradicate traffic gridlock in the metropolis, adding that recruitment was still ongoing at all the council areas. The coordinator said 570 traffic jackets have been

distributed free to volunteers in different local councils in the state, calling on interested individuals to approach the organisation for consideration. In his remark at the launch of the initiative, chairman, Conference 57 and director of local government, Mr. Alabi Kolade, praised the organisers for their patriotism and commitment to the development of the state. He said free flowing traffic is very important to the socio-economic development of Lagos State, adding that all hands

must be on deck to ensure that traffic gridlock is totally eradicated in the state. Also speaking at the launch, the director of protocol, Lagos State Governor's Office, Mr. Tunde Onigbanjo, said the initiative is very commendable, urging Lagosians to come out and be enlisted as volunteers. He said rather than sit somewhere and complain about traffic congestion in the state, Lagosians should come out to join hands with the state government in solving the problem.

Court remands blogger over malicious story on UBA boss Wale IgbIntade

Federal High Court in Lagos yesterday remanded a 29-year-old blogger, Desmond Ike-Chima, in prison custody, pending the hearing of his bail application over alleged malicious publication against Managing Director of United Bank for Africa, UBA, Philips Oduoza. He was arraigned before Justice Mohammed Yinusa on a two-count charge bordering on malicious publication preferred against him by the police. Prosecutor, Henry Obiazi, informed the court that the defendant and others still at large, sometime in March 2015, at Ojodu, falsely published an article by means

of computer on the Internet titled, ‘Randy UBA MD, Philips Oduoza, in Adultery Mess, Romances Star Actress, Genevieve Nnaji.’ He alleged that the publication was for the purpose of causing annoyance, incontinence, danger, obstruction, insult, injury, criminal intimidation, enmity, hatred,

ill-will or needless anxiety to the victim. According to the prosecutor, the offences committed are punishable under sections 24 (1) (b) Cybercrime Prohibition Prevention Act, Laws of the Federation of Nigeria 2015. However, the blogger pleaded not guilty to the

charges. Meanwhile, the prosecutor has urged the court to remand the defendant in prison pending the hearing of his bail application. The defence counsel, Nnamdi Mofunaya, prayed the court for a short adjournment in order to file all the necessary applications.

Protesting workers call for removal of executive director KemI olaItan Ibadan

risis rocking Cocoa Research Institute of Nigeria, CRIN, Idi-Ayunre, Ibadan, yesterday reared its ugly head again as research and social activities at the institute were grounded,

with the entire workforce gathering at the main entrance and padlocking it. The workers also embarked on a peaceful protest, calling on the Federal Government to remove the institute’s Executive Director, Prof. Malachy Akoroda, without further delay. The workers that cut

across the various departments of the institute carried placards with various inscriptions, just as they sang solidarity songs in stout condemnation of the management style of Akoroda, whose regime they tagged as autocratic and insensitive to their welfare since inception.

Federal High Court in Lagos yesterday sentenced 38-yearold Chibueze Onedigbo to 10 years imprisonment for drug trafficking. Onedigbo, a businessman, was charged by the National Drug Law Enforcement Agency, NDLEA. He was arraigned before Justice Musa Kuya on a onecount charge bordering on the offence. Justice Kuya in his judgment held that the sentence was in line with the sentencing guideline recently released for Federal High Court judges. “I have considered all the above, and I am of the view that the prosecution has discharged his burden of proof. “I have listened to the plea for leniency by the accused and have taken into consideration all that has been said. “In any case, the court is duty bound to sentence the accused, having found him guilty. “More so, the court is guided by the sentencing guideline recently released for Federal High Court judges. “Consequently, I hereby

sentence the accused to 10 years imprisonment, from the day of this judgment. The court also ordered that the drug exhibits in custody of the NDLEA be destroyed within 30 days, if there is no appeal against the judgment. The convict was arraigned on August 29, 2013. He had pleaded not guilty to the charge, and was granted bail for N5 million with one surety in like sum. NDlEA prosecutor, Mr. Linus Nor, had told the court that the convict was arrested on April 7, 2013, at the Murtala Mohammed International Airport. According to Nor, about 210 grammes of cocaine was recovered from the convict during the outward clearance of passengers on board a Qatar Airline flight. He said the convict had concealed the drug substance in a black leather bag. He told the court that the convict was thereafter, handed over to the agency for prosecution. The offence is said to have contravened the provisions of sections 11 (b) of the NDLEA Act, Cap N30 Laws of the Federation, 2004. NDLEA called two prosecution witnesses to prove its case against the convict.

With Buhari, it’s harvest time for Nigerians —Clergy boladale bamIgbola OsOgbO

residing prophet, Christ Apostolic Church, CAC, Abiye Prayer Mountain, Ede, Osun State, Prophet Funmiso Akande, yesterday, told Nigerians to be prepared to "harvest" all they have sown in terms of past deeds. Addressing newsmen on this year's edition of Abiye Convention, which grand finale holds Friday, November 13, Prophet Akande also urged President Muhammadu Buhari to first recover all stolen funds before formulating new economic policies. According to him, the present economic crises facing countries of the world may have spiritual undertone, explaining that hunger had in the past been used by God to draw straying people back into His fold. "There are instances in the Bible where God used hunger to draw people back to the

fold. But in this kind of situation, God has plans for His people. I urge all Nigerians to return to their Creator to survive this season," the clergy said. Akande added that from all spiritual indications, both good and bad deeds would attract commensurate rewards in the reign of President Buhari and called for prayers to redirect the troubled ship of the country to a safe harbour. Speaking on the sixth edition of the annual Abiye Convention, Prophet Akande said prayers would be rendered on all manner of spiritual challenges facing the country and individuals, calling on people from all parts of the world to use the opportunity the programme to seek the face of God. "Bishop Francis Wale Oke, Lady Evangelist Bola Are and Evangelist Adelakun are some of ministers of God participating in the five-day programme that is geared towards raising champions."

South East

We’re not fraudsters —MASSOB tells Obasanjo EmmanuEl EzEh Enugu

ovement for the Actualisation of Sovereign State of Biafra, MASSOB, yesterday faulted former President Olusegun Obasanjo over his stance on the Biafran struggle. The former president had recently slammed Biafra agitators, maintaining that it had become an avenue to defraud unsuspecting members of the public. However, in a reaction through Comrade Uchenna Madu, factional national director of information, MASSOB, he said the Biafran struggle remains a genuine movement despite the activities of a few bad eggs. Madu said contrary to Obasanjo's claims, Mr. Nnamdi Kanu, leader of the Independent People of Biafra, IPOB, and director, Biafra Radio, is fully committed to the realisation of Biafra. The MASSOB faction slammed Chief Raph Uwazurike, accusing him of sabotaging the struggle. According to Madu, "after our monthly national officers' meeting at MASSOB headquarters in Freedom House, Okwe, we have decided as follows: Olusegun Obasanjo’s assertion that Biafran activists are fraudsters and General Gowon’s statement that Biafra is a closed issue, were all made because of their conviction of Ralph Uwazuruike’s betrayal and deviation on the Biafran

EmmanuEl EzEh Enugu

ormer Enugu State Governor Sullivan Chime and his two sons have appeared before a Federal High Court, seeking to stop the Economic and Financial Crimes Commission, EFCC, from probing Chime’s eight-year tenure. An Enugu-based lawyer, Mr. Ray Nnaji, had petitioned the EFCC, asking it to investigate the former governor, his children and associates, who he alleged, succeeded in cannibalising the state. Nnaji later filed a suit before the Federal High Court in Enugu with Suit No FH9/

struggle as a result of his lust for wealth, compromising nature, open political romance and public association with the Nigeria government during President Goodluck Jonathan’s administration. He added that "MASSOB also condemns the sudden wake up of Uwazuruike to establish another Radio Biafra to counter the current Radio Biafra broadcasting all over the world. While accusing Uwazurike of collecting billions of naira to support ex-President Jonathan's re-election, the MASSOB faction threatened to "expose all the fraud and criminalities Uwazuruike committed in the name of Biafra, as well as all the houses, hostels, estates and hotels he built, bought and is still constructing in Owerri, Lagos and Abuja." It maintained that "Nnamdi Kanu was not suspended or expelled by Uwazuruike or MASSOB; he left MASSOB in 2009 when Uwazuruike went to London to buy a personal mansion for his family. "Men of unflinching determination are still consistent for the total freedom of Biafra; men whose names and ideologies will be celebrated like Dim Chukwuemeka Odumegwu Ojukwu in all generations. "While Uwazuruike is fast diminishing as a result of self-deceit and hypocrisy, Nnamdi Kanu is speedily progressing as the celebrated vocal leader of the genuine Biafran struggle." EN/94/WS7/2015. The suit has the EFCC as first respondent, the Code of Conduct Bureau as second respondent and Chime as third respondent. Others are Chime's sons, Nnamdi and Tochukwu, 4th, 5th respondents, Revenue Mobilisation Allocation and Fiscal Commission, 6th respondent and former Chief of Staff to Chime, Mrs. Ifeoma Nwobodo, as 7th respondent. Addressing newsmen after the matter came up for mention, Nnaji revealed that Chime's sons filed a counteraffidavit and notice of preliminary objection, insisting that he lacks locus standi to

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Okorocha shops for loan to complete ongoing projects

…slashes magistrates’ salaries Chris njoku OwErri

ollowing the stringent economic situation in the country, Imo State government has started sourcing for a loan despite the bailout fund to enable it complete its ongoing projects. Governor Rochas Okorocha, who made this known at a press briefing in Owerri yesterday, while giving account of his last four years in office, made reference to the ongoing two flyover projects and the upgrade of Sam Mbakwe International Cargo Airport in which he is expected to spend the

loan. He explained that the two flyover projects, when completed, would ease traffic congestion in the state capital, and the airport, when upgraded, would help boost the state’s economy through commerce. He said he was sourcing the loan also, for work on major roads, pointing out that his dream was to transform the state capital and make it a one-city state. On the performance of civil servants, Governor Okorocha said his administration would reduce the workforce by removing those he regards as ‘dead woods’ and replacing them with

more vibrant workers, adding that his plan was to make every worker in the state computer-literate. He added that the state government pays higher minimum wage when compared with other state governments, pointing out that in the state’s judiciary the workers earn more than their counterparts in other ministries and departments. Okorocha revealed that magistrates in the state’s judiciary earn about N500,000 a month. This, he said, has been a load on the wage bill of the state. He, however, said his administration has set up a committee to renegotiate

and review the salary of magistrates downward. According to him, “this is because of the drop in the statutory allocation to states.” On the controversial concessioning of general hospitals, the governor explained that it was the management of the health institutions that was concessioned and not the institutions themselves, adding that his administration has not sold any government property and would never do so. Rather, he went on, the administration had re-acquired two of the government’s industries sold by past administrations.

L-R: National President, Federal Government Girls College (FGGC), Owerri Alumni Association, Marry-Helen Nnadi; President, Abuja chapter of the association, Perpetua Ohammah; State Vice President, Uloma Ajugwo and National Vice President, Tina Eneh, during a news conference to herald FGGC Owerri's 42nd Founders Day and global reunion celebration, in Abuja, yesterday.

Chime, sons move to stop EFCC probe maintain the suit. Said he: "I had applied to the EFCC to investigate Chime, his children and associates, who squandered and cannibalised the state’s resources and properties by virtue of the act establishing EFCC. "EFCC seems to be dillydallying, which prompted me to apply for a judicial review, to wit, Order of Mandamus, compelling them to do their public duty and for the ICPC to release to the Code of Conduct Bureau’s forms Chime filled before he became governor in 2007 to en-

able us determine the extent of cannibalisation. "Also, for the Revenue Mobilisation and Fiscal Commission is to release his official salaries and other packages within eight years. This will also include the release of income and expenditure. This should be released to me through the EFCC." The lawyer had also joined the Attorney General of the state, urging him to release a fiat to enable him prosecute Chime and his sons if the EFCC fails to do so.

It would be recalled that Nnaji had petitioned the EFCC, alleging that Chime's administration allocated plots of land at the Enugu International Conference Centre, ICC, to his associates, altered the 2012 supplementary budget without the approval of the state House of Assembly and conspired with his associates to allocate public land to themselves within Enugu metropolis. However, at the resumed hearing of the suit yesterday, all the respondents approached the court through

their counsels, declaring their intention to challenge the suit. While Chime was represented by A. J. Offiah, SAN, his sons were represented by Anthony Ani, who has already filed a counter-affidavit and a notice of preliminary objection. Mrs. Nwobodo was represented by Chinyere Ifediorah. In the notice of preliminary objection, Chime's sons are asking the court to discountenance the suit, arguing that Nnaji lacks locus standi on the matter.

National Mirror www.nationalmirroronline.net

News

Tuesday, November 3, 2015

Court reaffirms orders against dissipation of Afren assets Wale igbintade

L-R: Akwa Ibom State Governor Emmanuel Udom; an awardee, Sen. Ita Solomon Enang; his wife, Dr. Rosemary Enang and Executive Secretary, National Universities Commission, Prof. Julius Okoje, during the 21st convocation ceremony of the University of Uyo, at the weekend.

Oshiomhole insists on ‘no work, no pay’ SebaStine ebhuomhan Benin

do State Governor Adams Oshiomhole has said government will not use workers’ taxes to pay those who chose to stay at home for months on a strike that is ill-informed. Speaking at the 2015/2016 Legal Year of the state’s Judiciary, the governor said the law was clear that a worker who embarks on strike will

forfeit his wage, in a veiled reference to his insistence not to pay workers of the state judiciary, who embarked on seven-month sympathy strike with the national union. It would be recalled that workers under the aegis of Judiciary Staff Union of Nigeria, JUSUN, in the state had embarked on a 7-month strike to press home their demand for financial autonomy for the judiciary. The governor, who said

the state was proud of her judicial arm, said “we in the executive in Edo State have utmost respect for the judicial arm on account of the courage and hard work you have displayed.” The governor said his administration would build more courtrooms before the end of his tenure so that more judges could be posted to the state to ensure speedy dispensation of justice. On taxation, Oshiom-

hole said the state would be firm in its collection of taxes as is the case the world over. According to him, “the rich must be ready to pay taxes and this government will ensure that the rich in this state pay taxes. We will collect them within the law, and if they don’t pay, we will push it to the highest level that we can. It’s in the enlightened selfinterest of the rich to contribute for the maintenance of peace and security.”

Concrete roads durable, cost effective —Engineers

igerian Institution of Structural Engineers, NISTRUCTE, has called on the country to switch over to the use of concrete for road construction. The engineers made this submission at their just concluded 28th Annual Conference in Abuja, with the theme: Structural Engineering Excellence in an Environment inundated with Collapse. President of the institute, Samuel Ilugbekhai, said: “Concrete pavements have been found durable and last longer than bituminous roads. “The time has come when Nigeria should step up the use of concrete for roads especially now that the country has increased its potential to produce cement at lower prices and even exporting to other countries.” He regretted that the country’s dilapidated roads have become death traps

and the economic cost to the nation was becoming too high. Vice President of the institution, Eddy Atumonyogo, stated: “Concrete pavements are very good because they last longer and can be used for busy roads, especially in state capitals. Speaking in the same vein, Deputy President, Oreoluwa Fadayomi, said concrete pavements have been in use all along, but the difference now is that the conversation may shift to adopting it to replace bitumen totally. Aliyu Aziz Abubakar, a Vice-President of the institution said the viability of concrete pavements should be looked at as the country’s manufacturing sector now produces cement more than the average national need. Speaking earlier, the Chairman of Sea Dredge Construction Company, Ayo Folorunsho, said concrete roads are the future and the

Lagos High Court has affirmed its decision restraining Administrators of Afren Plc from dealing with any assets of Afren Plc in Nigeria or taking any steps to register or seek the consent of any government authority in respect of any transfer or dissipation of Afren assets pending the hearing and determination of the suit. Justice Obafemi Adamson had granted a Mareva Injunction in Suit No. LD/1155CMW/2015 instituted by Earl-Act Global Associated Company Limited against Afren Plc over alleged breach of contract under an Option and Transfer Deed to purchase shares in a Nigerian company (First Hydrocarbon Nigeria Company Limited, FHN. Counsel to Earl-Act Global Associated Company Limited, Dr. Wale Olawoyin (SAN), in a statement warned that the court’s interim/interlocutory injunctive orders remained valid and subsisting. Already, the Ministry of Petroleum Resources and the regulators, particularly the Department of Petroleum Resources, have been notified of the subsisting injunctions on the sale and transfer of the aforementioned assets. Earl-Act had earlier obtained injunctive orders both at the Lagos State High Court and the Federal High Court, against Afren PLC including, but not limited to Messrs Alix Partners from dealing with any assets of Afren PLC in Nigeria pending the hearing and determination of the respective motions on notice of interlocutory and interlocutory Mareva injunctions. In particular, the order of the Federal High Court in Suit Number FHC/L/ CP/1511/15 had granted an

interim injunction restraining the directors of FHN and its subsidiaries from approving any sale of shares in those companies or from any person selling or transferring any shares in those companies pending the hearing and determination of the motion on notice for interlocutory injunction. But, rather than defending the action before the courts, Afren PLC proceeded to the High Court of Justice (Chancery Division) in England to seek and obtain an anti-suit injunction in England which purports to restrain anyone, including Nigerian investors from continuing with both the Lagos State High Court and Federal High Court actions. The English court also threatened sanctions against any person in Nigeria who knows of the order of the English court and does anything which helps or permits Earl-Act to breach the terms of the English order. The English court granted the order of anti-suit on the sole ground that the Nigerian actions validly commenced under Nigerian procedural and statutory laws in respect of claims occurring in Nigeria and in respect of Nigerian assets are vexatious against the exercise of a statutory power of the Administrators under the English Insolvency Act in England. But Dr. Olawoyin pointed out that only Nigerian courts duly constituted under the Nigerian constitution and exercising judicial powers can make restraining orders of such magnitude in respect of claims fully recognised by Nigerian law. Afren Plc was actively engaged in the Nigerian Oil & Gas sector and a number of Nigerian investors invested significant sums of money in entities associated with Afren Plc.

way to go, even though the cost may be high on the short run, it will be economical on the long term given the increasing capacity of cement companies in Nigeria. He said more people die from bad roads than collapsed buildings, urging the country to take the issue of concrete pavements more seriously. President Muhammadu Buhari, who was represent-

ed by the Permanent Secretary, Federal Ministry of Works, Mr. D.S. Kigbu, called on Structural Engineers to champion what he called ‘structural integrity and reliability.’ He regretted the number of Nigerians dying as a result of bad structures and tasked the engineers to step up action to put an end to collapse of structures and other engineering problems.

nick uWeru

Group launches Foundation for mothers’ welfare

non-governmental organisation, NGO, Annmom Foundation for Mothers Welfare, AFMW, has opened a new vista in charity, taking it to the doorstep of mothers’ welfare all over the world. This was made known by the Founder and Chief Executive Officer, CEO, of the group, Princess Ann Ehigiator Johnson, in an interview with National

Mirror. Johnson stated that the Foundation was brought about by the need to alleviate what she described as the prevailing global poverty. According to Johnson, she was irked by the scourge of poverty across the globe, noting that citizens of the world, especially women and children were more vulnerable to poverty and deservedly

should be aided in a conscious attempt at stemming the tide and pains of falling standard of living. The organization, which was launched in the US recently with the Nigerian Ambassador in New York present, vowed to ensure that mothers all over the world has the support of the Foundation, noting that citizens in the US, Europe, Africa and Asia have so much to benefit from the

charity organisation. Registered in Nigeria, AFMW kicked the ground running as it took on the challenges of homelessness in the US and Europe while promising to hit poverty in Russia soon. Mothers in the USA and Europe Princess Johnson noted are mostly homeless immigrants, adding the foundation provides succour for the indigents and has started same in Africa.

North

Tuesday, November 3, 2015

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Goje forged Assembly’s resolution to collect N5bn loan –Witness

L-R: Former Chairman, Council of Registered Builders of Nigeria, Sen. Ahmed Abubakar; Permanent Secretary, Federal Ministry of Lands, Housing and Urban Development, Prof. Akin Akindoyeni; Mr. George Ossi and Chairman, Corbon, Prof. Bala Kabir, during the Builders Congress 2015 Conference in Abuja, yesterday. PHOTO: NAN

Police kill 2 rustlers, recover 441 cattle in Kano

ano State Police Command yesterday said it killed two suspected rustlers, recovered 441 cattle and 81 sheep in Falgore forest, Doguwa Local Government Area of the state. Police Commissioner, Mr. Muhammad Katsina, disclosed this while presenting the animals to Governor Abdullahi Ganduje at the forest. He said the suspects were killed during a gun battle between the bandits and the special anticattle rustling squad on Sunday. The commissioner said the police had also recovered another 381 cattle, 46 sheep and two dogs at Gomo village, Sumaila Local Government Area of the state. He also said the command recovered dangerous weapons and N500,000 cash abandoned by the fleeing hoodlums. Katsina said the squad would continue with the operation in the affected local government areas to flush out bandits in the state. He commended the state government for supporting the command to flush criminals out of the state. Receiving the animals, the governor said the state government would continue to support security agencies

to control rustling and banditry in the state. Ganduje said the committee set up by the state government to return the animals to owners had so far handed over 245 cattle to their owners. He commended security agents for the effort and urged communities in the affected areas to cooperate with security agencies to achieve desired objective. Adamawa Assembly summons commissioner Adamawa State House of Assembly yesterday summoned Commissioner for Rural Development, Mallam Hassan Umaru, for allegedly harassing its member.

LIVINUS MENEDI YOLA

peaker of Adamawa State House of Assembly, Hon. Kabiru Mijinyawa, yesterday tasked the executive arm on accountability, adding that he was averse to impeachment because of instability it has brought into governance of the state where seven swearing-in exercises have been witnessed. He stressed that he would not condone any act that borders on gross financial misconduct. Mijinyawa, who spoke against the backdrop of his alleged strained relationship with his co-legislators,

It ordered that the commissioner should appear before its Committee on Ethics and Privileges to give reasons for the alleged harassment of a lawmaker. The summons followed a motion moved by Mallam Isa Yahaya (APC-Maiha), the member allegedly harassed, who brought the matter under “urgent public importance.” Yahaya told the house at plenary that the commissioner harassed him at a stakeholders meeting, to the extent of pointing a finger at him. “He harassed me and even pointed a finger at me,” he said. In his contribution, Alhaji Abubakar Ab-

dulrahman (APC-Mubi South) said Yahaya was an elected representative of the people and the harassment by the commissioner amounted to harassing the people Yahaya was representing. “I want the house to look into this matter in order to stop further harassment of lawmakers while conducting their duties as representatives of the people,” Abdulrahman said. Intervening in the debate, the Speaker, Kabiru Mijinyawa, directed clerk of the house to write the commissioner, inviting him to appear before the committee on ethics and privileges on the matter.

witness in the ongoing trial of a former governor of Gombe State and serving senator, Danjuma Goje, Shehu Mohammed Atiku has told a Federal High Court, Gombe, that the ex-governor forged the resolution of the House and collected N5bn facility from Access Bank. According to a statement by spokesman for the Economic and Financial Crimes Commission, EFCC, Wilson Uwujaren, Atiku made the disclosure yesterday during the ongoing trial of the former governor. “My Lord, the said resolution did not emanate from the Gombe State House of Assembly and I was not a signatory to it,” Atiku, a former Clerk of the House of Assembly and one of the three witnesses called by prosecuting counsel, Wahab Shittu, said. “As admin officer of the House, I chair management committee of the House; keep the record

8 students confirmed dead in Adamawa mosque blast LIVINUS MENEDI YOLA

uthorities of Adamawa State Polytechnic yesterday confirmed that eight students of the institution died in Friday, October 23, mosque bomb blast. The blast took place during the opening ceremony of a Juma’at mosque located at the School of Engi-

Speaker cautions on bailout funds maintained that he would not be cowed into taking any action that is against the interest and stability of the state. He stated that although he remains averse to impeachment, the only thing that would make him move against the executive was if the governor fails to heed his advice on the need for financial prudence, and evidence abounds of his gross misconduct. He said as a result he had consistently cautioned Governor Mohammed Jibrilla Bindow not to do anything with the

bailout funds given to the state outside the purposes for which it was received. As Adamawa legislature resumed from its protracted recess, Mijinyawa is alleged to be confronted with a strained relationship with his constituent whose growing angst against him is linked to accusations of his not doing enough to bring dividends of governance to the lawmakers. But Mijinyawa, who was reacting to the development yesterday in his office, said: “I am not here for impeachment.

of House proceedings and maintain its records,” he added. However, the court had to cut short the proceeding and adjourn for further hearing because of the fracas that ensued as suspected political thugs invaded the court premises and disrupted the proceedings. The thugs also launched attack on the accused persons and others outside the court’s premises during which the second accused person, Aliyu El-Nafarty, and one other person were seriously wounded. In the melee, vehicles were vandalised, including that of the defence counsel, Paul Erokoro, SAN. The attack forced the presiding judge, Justice B. O. Quadri, to adjourn to November 25, 2015. Justice Quadri condemned the attack and directed both counsel to do a report on what happened, which he promised to forward to the Chief Judge of Federal High Court for necessary action.

“Count me out of any impeachment,” noting that the change mantra must be evident in the polity. The speaker explained that one thing he would not do is to succumb to the wishes of those he termed as practising politics of “self-aggrandisement” to push him into trying to get anything from the executive arm of government by “crook.” He noted that while not trying to sound as being protective of the executive arm, he remains an ardent believer of the need to protect the institutions of government from unhealthy rivalry.

neering of the institution in Jambutu. The clarification was made through a press release signed by information officer of the institution, Albert B. Matilah, and made available to newsmen yesterday. Matilah noted that so far, of the 25 casualties of the blast from the institution, only four students and two staff are currently on admission. He said in the aftermath of the incident, security around all campuses of the institution was beefed up as thorough search was conducted on everyone entering the school. Matilah also said that as a result if the blast, the school’s authority observed a lecture-free day to honour the dead students, adding that the school’s management equally pledged to assist the victims on admission at the state specialist hospital and the Federal Medical Centre, Yola, through the institution’s health insurance providers. He urged the students to be security conscious while on campus and report any suspicious person or items.

Tuesday, November 3, 2015

SUPER TUESDAY Buhari should not be selective in fight against corruption –Bisu

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Politics Revisiting Zakari’s stint as INEC boss

Storms in Nasarawa over LG bail-out funds Igbawase UkUmba LAFIA

hen Governor Umaru Tanko Al-Makura of Nasarawa State handed over a cheque of N4.3 billion to local government councils in the state on October 19, 2015, his message was very clear and unambiguous that the fund should be used in the payment of outstanding salaries to genuine local government workers who are being owned salaries for two and half months. Based on the above directives, Forum of Joint Local government Trade Union and local government council chairmen met in the office of the permanent secretary, ministry of local government and chieftaincy affairs on the same day and agreed to conduct screening exercise to fish out ghost workers on the payroll of local councils. The agreed screening exercise was to correct other anomalies within the system as the objective was to sanitize the councils system so as to reposition it on a level where allocation coming from the federation account can be able to adequately pay salaries without hitches. However, rising from an emergency meeting on October 27, 2015, the joint union in a press statement jointly signed by officials of its six amalgamated bodies and issued to journalists in Lafia, wondered why government used Skye Bank as a template for determining the payment of workers’ salaries in the state. The union said: “In our series of meetings on this matter with government and labour, no mention of biometric capture exercise from Skye Bank was mentioned to be used as a template to determine payment of workers’ salaries in Nasarawa state.” The union was also shocked at the sacking of non-indigenes working in the state as according to it, “that was not part of the agreement considering the fact that our brothers and sisters may equally be working in other states and may be victimized because of this development.” It added that it was sad that while government was computing the salaries and writing of cheque had commenced, it discovered a secret template which was not part of the agreement submitted to the ministry for local government and chieftaincy affairs for implementation by the Skye Bank which drastically reduced the local government workers’ salaries. It hitherto gave an example of a council worker who used to collect N200,000 per month but has his salary reduced to a ridiculous amount of N70,000 without any cogent reason. Consequent upon that, leaders of the union mobilized all local government workers in the state for a three- day warning strike action which may eventually lead to a very peaceful protest across the state. Moreover, the union continued: “Labour may not want any industrial disharmony with the government, but we may be compelled by the inaction of the government to do so Nevertheless, the bailout fund episode has also compelled pensioners in the state to give Governor Al-Makura a seven-day ultimatum to pay their outstanding benefits with the bailout fund he accessed recently or they take to the streets and other appropriate quarters to enforce their fundamental rights. Their grievances was made for public consumption through a communiqué issued at the end of the congress meeting of the Nasarawa state chapter of Nigeria Union of Pensioners, NUP, which was signed by Alhaji Umaru Adoga and Alhaji Ibrahim Usman, chairman and secretary respectively, and issued to journalists in Lafia, the

Al-Makura

Government waGe bill for local Government in the state stands at n2.2 billion, and what local

Governments jointly are GettinG now in this month

of october is n1.2 billion state capital. The senior citizens on their part noted with dissatisfaction the decision by the state government to misapply the bailout fund for the construction of an airport in the state which according to them, “it is not a priority of the common man in Nasarawa state.” The pensioners said: “We noted the procedural error the allocation of bailout fund to Association of Local government of Nigeria, ALGON, and the delay in payment of the pension as well as payment in percentage, especially to local government pensioners, must stop. We therefore request for the status quo-ante to be revisited regarding the operation of the pension bureau and demand for the total overhaul of the state pension bureau to make it accountable on its activities in the last four years especially on the payment of gratuity to local government retirees.” It was against this backdrop that the senior citizens viewed with all sense of concern the non-payment of gratuity in the state, especially to local government retirees for the past four months and the non-implementation of 33 per cent minimum pension to both state and local government pensioners since 2010, and the 12.5 per cent to state pensioners since 2003, despite federal government approval and directive to that effect. They however commended President Muhammadu

Buhari’s foresight in alleviating the sufferings of Nigeria civil servants and retirees through the initiative of the bail-out to settle salary arrears and backlog of gratuities of pensioners in the country which according to them, “Nasarawa state accessed the bailout funds to the tune of N18.3 billion.” Lamenting at the attitudes of NULGE to government, Chairman of the Nasarawa state chapter of Association of Local Government of Nigeria, ALGON, Alhaji Suleiman Wambai, regretted that no matter how much ALGON relates with NULGE, NULGE still remains adamant to be a problem to the local governments. “Nobody knows the allocation that comes from Abuja. Nobody knows that the allocation that comes from Abuja cannot pay salaries. The chairmen, in our wisdom, collaborated with each other to make sure that all those local governments that could not pay their workers are paid. But they did not appreciate,” he expressed. The state ALGON chairman who is the chairman of Lafia local government area gave an instance when ALGON had a meeting with them recently over a strike threat and it was resolved that the pending strike should be put on hold, but only for NULGE to call their members the following morning to embark on the strike. Wambai therefore said that the size of the salary which labour in the state is enjoying demands that they go to neighbouring states and find out the size of the minimum wage implemented there so that the state government can re-adjust the minimum wage package; because, according to him, “here we are paying too high. Instead of them to appreciate what we are doing, they don’t.” Reacting to those claims, Governor Al-Makura therefore warned people who are bent on stigmatizing the name of his government that his regime would not condone that. He said that despite the Federal Government bail-out funds, local government areas in the state are in a state of comma. The governor made this pronouncement at the Lafia Government House during the state’s Joint Account Allocation Committee, JAAC, meeting, adding that like physicians, they have to tell the patient his real ailment. “We would not want a situation where we will have this sitting and some people would come to insinuate or go around spreading lies to cause confusion in the state,” Al-Makura reiterated. According to the governor, “the N4.3 billion bail-out given to the council areas in the state would only pay up to the month of September in full, but for the month of October, the councils will only do with what is received from the federation account. Government wage bill for local government in the state stands at N2.2 billion, and what local governments jointly are getting now in this month of October is N1.2 billion, so there is a short fall of N 1 billion of which the bailout has faded. So local government workers should be thinking about receiving 50 per cent salaries in October, because we should be like physicians who tell the patient his real ailment, and they should know that despite this bailout, local governments are in a state of comma in the state.” Al-Makura gave the essence of the JAAC meeting as an avenue to brainstorm in order to ensuring that the revenue which is accrued to local government is shared in accordance to the constitution and the guidelines of such distribution. “It should not be misconstrued today that the state government has any dealings in the local government joint account. As far as this administration is concerned, since it unfolded, we never had any financial dealings with the local governments,” he explained.

Politics

Tuesday, November 3, 2015

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Buhari should not be selective in fight against corruption –Bisu Bomboi Bisu is a chieftain of the People’s Democratic Party, PDP in Bauchi State. He served for two terms as Senior Special Assistant to former governor Isa Yuguda. In this exclusive interview with EZEKIEL TITUS, he insists that only former EFCC boss, Mallam Nuhu Ribadu can revive the former ruling party, PDP from the doldrums. Excerpts. Since the exit of the former PDP National Chairman, Ahmed Mu’azu, PDP is hoping to retain the national chairmanship to the north, who do you think can help pull the party together? To be candid and honest, the former EFCC boss, Mallam Nuhu Ribadu deserves to be the National chairman of the PDP more than anybody from the North-east that have already indicated interest in the position. This is because, he has good past records as he fought corruption to a standstill during former president Olusegun Obasanjo’s tenure and that earned him more respect and honour even in the eyes of international community. With this, if PDP wants to bounce back to life ahead of 2019 elections, Mallam Nuhu Ribadu remains the only option to revive the party irrespective of personal interests of some stakeholders which you know was the major reason why the party lost in the last election. Nuhu Ribadu is one of the most honorable politicians in the country and he has the capacity to persuade and bring back some of those aggrieved PDP members that dumped the party to the opposition especially Chief Olusegun Obasanjo and former Vice President , Abubakar Atiku among others. The choice of Ribadu as the next PDP chairman will eliminate every religious, tribal or political sentiments, if at all PDP intends to give the APC a good fight come 2019. It will be very good if party members should see him as a rallying point and offer him necessary support as the next national chairman. Don’t you think your views may likely stoke fire particularly in the camps of other equally qualified aspirants? No, let me tell you, that is the beauty of democracy, eventually if we share the same views, most likely the best and credible hand will not be produced, but I am telling you that among the contestants, Nuhu Ribadu stands the best chance to pilot the affairs of the PDP ahead of 2019 elections because he has the pedigree not to compromise the party’s chances. However, I don’t have confidence in other contestants. Nuhu Ribadu has clean record if you look at his antecedents especially his career in the police and at the EFCC. I am scared of supporting those we know contributed hugely to the defeat of the PDP in the last election but are angling to be the next national chairman of the party. What do you think is the implication of producing the next PDP national chairman from the North-east now that the PDP had given the North the chance to produce presidential candidate in 2019 elections? In fact there is nothing wrong in this calculation because our desire is to capture Nigeria again not minding the region where both happened to come from. You know, politics is just about an interest and Ribadu is the best hand that can handle Buhari at present. You are aware that former PDP national chairman, Ahmed Mu’azu failed to deliver his immediate unit to Jonathan during the 2015 elections, what is your expectations from Nuhu Ribadu evetually if he is voted in as the next national chairman of the party ahead of 2019? Ribadu bein an honest politician who had surrendered his life to fight the evil of corruption while at the EFCC will perform wonderfully well and to be frank, our PDP leaders were not honest and they failed to dis-

play their support for Jonathan and indeed the party in their respective electoral units in the last election . And that is exactly the similar challenge the former PDP national chairman faced when he lost his unit to Buhari. Again I blame our party in those days for not extending the olive branch to aggrieved party members before the election and that was what caused us the election. There is agitation that there should be no room for those who had held public offices in the past to contest the office of the PDP national chairman as a way to rout out corruption. What is your reaction now that your candidate Nuhu Ribadu was once the EFCC boss but has now indicated interest? History will repeat itself because Ribadu’s tenure as EFCC boss has vindicated him from any blame and he has the credibility and capability to contest the office of the party’s national chairman unlike other contestants that are under the watch of anti-graft agencies and whose behaviours and backgrounds are questionable before the public. Ribadu is a tested and reliable politician to reckon with. What is the assurance that Ribadu will revive the PDP if eventually voted as the next PDP national chairman? There is no doubt that Ribadu will revive, rebrand and restore the lost dignity of the PDP because he has honour before his former boss, former president Obasanjo, Atiku and other elites who had dumped the party, so being a loyal politician, I am sure he will use his discretion and experience to lure them back to the PDP for a new beginning.

The fighT againsT corrupTion requires all hands on deck and is The collecTive

responsibiliTies of all,

hence iT’s noT someThing

buhari will address in a shorT period

Bisu

What are your expectations concerning 2019 elections? The idea is simple, if Ribadu is given the chance, PDP will miraculously defeat the APC and much is expected from him to restore the party to be able to face Buhari, that is the only thing, anything short of this is not acceptable. Ribadu believes in the verdict of the masses in producing credible hands as against imposition of candidates as was the case in the past. As PDP chieftain what is your take on the current crusade against corruption as initiated by President Buhari? The fight against corruption requires all hands on deck and is the collective responsibilities of all, hence it’s not something Buhari will address in a short period of time as it requires long time plans. But my advice to Buhari is that he should not use the idea to witchhunt PDP members, neither should he be selective in fighting corruption. How will you rate the APC administration at the centre and in Bauchi? Honestly, there is nothing to show on ground as the embodiment of democracy since the emergence of the APC as a ruling party both at the federal and in Bauchi state where I reside. But we are still waiting for the bandwagon effect of APC ‘change mantra as claimed by the party. As a ruling party whose foundation is derived from the PDP, they are still trying to learn from the experience of their mentor, so it requires time to put their house in order for Nigerians to benefit something.

Kogi PDP says Wada will defeat Audu Wale IbrahIm LOKOJA

ogi State chapter of the Peoples Democratic Party, PDP has said that its candidate in the forthcoming gubernatorial election in the state, Governor Idris Wada will defeat his main

challenger, Prince Abubakar Audu of the All Progressives Congress, APC. The PDP further warned that APC should not continue to gloat over the victory of President Muhammadu Buhari in the last general elections, saying the PDP will defeat any opposition party in

the state anytime, any day. In a statement issued and signed by Wada’s Chief Communications Manager, Phrank Shaibu, a copy of which was made available to newsmen in Lokoja, PDP said it wondered why members of the APC were still basking in the euphoria of President

Muhammadu Buhari’s victory when the party should be strategizing to face the upcoming governorship poll. ‘’It is a mark of the idleness of the folks in charge of the APC in Kogi State that they will continue to bask in the euphoria of CONTINUED ON PAGE 43

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Tuesday, November 3, 2015

A PUBLICATION OF NATIONAL MIRROR NEWSPAPERS

Ogoni pledges to support UNEP report O sahOn J ulius YENAGOA

Bayelsa State Governor Seriake Dickson (right) formally receiving APC delegates who defected to the PDP, Senator John Brambifa (centre), Chief Alex Ekiotene (left), and supporters during a rally at the Peace Park, Yenagoa.

Guber election: Panic over rumoured death of Madam Dikoro

OsahOn Julius YENAGOA

here was panic and apprehension on Monday in the camp of the All Progressives Congress Congress, APC, and family of its deputy governorship candidate in Bayelsa State, Wilberforce Igiri, following rumored news of the death of his mother, Madam Ebifeghe Dikoro, in the hands of her adductors. Dikoro, who is said to be over 105 years old, was abducted by gunmen last Thursday at her home in Foropa community, Southern Ijaw Local Govern-

ment Area. Her abduction came barely one week after the governorship candidate of the APC, Timipre Sylva, formally presented Igiri to the party in Yenagoa as his running mate in the forthcoming December 5 governorship election in the state. Sylva’s choice of Igiri had deepened the internal crisis in the party as some elements kicked against it, resulting in days of protest by some youths who went on rampage and destroyed his election posters at the state party secretariat. Dikoro’s kidnappers were said to have invaded her house

at about 1 a.m. on the fateful day and whisked her away to an unknown place. The bandits had stormed the community on the fringe of the Atlantic ocean in two speed boats and shot sporadically into the air to ward off any response by the people before taking her away. It was gathered that news of her death broke early on Monday about five days after the incident. But a close family source, who did not want to be named, dismissed news of Dikoro’s death in the hands of the hoodlums.

“There is nothing like that. Nothing like (her death) that happened. It’s a rumour,” he said. He, however, said the hoodlums had yet to contact the family, stressing that effort was being intensified to ensure her rescue. When contacted, the state Police Command Public Relations Officer, Asinim Butswat, said there was no iota of truth in the rumoured death of Dikoro in the custody of her abductors. “We are on it. Investigation is going on. It’s not true that she has died in the hands of the kidnappers,” he said.

N’Delta activist, Omolubi, dumps PDP for APC OsahOn Julius YENAGOA

iger Delta activist and president of the Iwere Development Association, IDA, an umbrella body of Itsekiri people worldwide, Comrade Omoulubi Newuwumi, yesterday led thousands of his supporters and members of the People Democratic Party, PDP, in Warri North local govern-

ment area of Delta State, to the All Progressive Congress, APC. Omolubi, a former Commissioner for Youth Development in the immediate past administration of Governor Emmanuel Uduaghan, and regarded as the ‘soul’ of the PDP in Warri Niorth and Delta State in general, said he was leaving the PDP because the party had failed to bring the dividend of democracy down to the people in the

communities. At a mini rally yesterday at the residence of a chieftain and national leader of the party, Chief Ayiri Emami, in Warri, Omolubi, who was officially presented with the symbol of the party, said he had to join the Change mantra to bring the much needed development to the people, especially at the grass root. “I am a product of Change

and because I am a product of Change I have to join the party that has the ‘propeller and the engine’ to drive that Change, and bring that much needed development to my people; and as a man who always crave for change I can’t be left out. “Politics is about bringing developmental changes to the people especially at the grassroots CONTINUED ON PAGE 16

il bearing and impacted communities in Ogoni land in Rivers State have resolved to support the ongoing efforts to implement the UNEP report and clean up the polluted environment. Rev. Nnimmo Bassey, Executive Director, Health of Mother Earth Foundation (HOMEF) said in Yenagoa that the communities took the decision after a capacity building workshop in Ogoni at the weekend. Bassey said that HOMEF organised the workshop on Building Community Resilience Towards the Implementation of the UNEP Report at Ken Saro-Wiwa Peace Centre, Bori, Ogoni Rivers, as a peace building effort to avert conflict. According to him, the training sought to develop the skills needed for participants to promote, mentor and serve as watchdogs on the Implementation of the UNEP Report. He said that the participants drawn from Khana, Gokana, Tai and Eleme Local Gover nment Areas observed that Ogoni environment was a disaster zone in dire need of clean up. “They observed that the plan by gover nment to implement the report of the United Nations Environment Programme (UNEP) on the Ogoni Environment is the right step to take. The implementation of the UNEP report will not be effective without the full support of the Ogoni people. “That there is the need for a holistic monitoring of the environmental clean up and remediation processes to ensure that a thorough work is done in line with the recommendations of the UNEP Report,” he said. Bassey said that stakeholders in the proposed clean up and remediation of Ogoni land resolved to undertake sensitisation and awareness of all Ogoni communities on the UNEP report. CONTINUED ON PAGE 42

N’Delta activist, Omolubi, dumps PDP for APC CONTINUED FROM PAGE15 level and the rural communities but I am sorry to say that for 16 years now, that development has eluded the people of my community. PDP cannot pinpoint one project that brought development to my ward in Warri North local government area. “Because I believe in change; because I believe in development, I am joining the APC to drive that developmental change that the party has begun from the federal level down to the state to the local government and all the way to the wards and every community and I believe I humbly qualify for that job.” Responding, a South-South leader of the party, Mr. Yemi Omawumi, said Nigeria was driven toward an ideological political situation, where the party was presently sifting the chaff from the grain, until the totality of the progressive in the PDP was taken away to join the APC. “We have started from all parts of the country; the totality of the progressive in the PDP will be taken away. Those who remain to destroy Nigeria, we will leave them there to collapse. In Rivers State we have taken Amaechi even though people are kicking, forgetting that Amaechi is a moving train you cannot stop.” Also speaking, Chief Ayiri, said he was particular elated with the defection of Comrade Omolubi to the APC, saying that the PDP, had lost a formidable, trusted, committed, honest and grass roots mobiliser, who was ready to work at any given time. He said the calibre of members that have in Warri North before now has been ‘political negotiators’ who do not have the interest of the people at heart but where in the APC as mole for the PDP. APC chieftain at the mini rally included Chief Emami, Ayiri, Misan Okobeinje, Chief Micheal Johnny, Hon. Victor Omunu, former council chairman, Felix Ehoeuetan, Comrade Progress Omo Agege, Mr. Ekwejuno Eji, Mr. Ese Oluku, Mr. Yemi Omawumi and Toju Omadele.

Tuesday, November 3, 2015

Stranded amnesty students protest UK visas denial OsahOn Julius YENAGOA

ome final year students in various universities in the United Kingdom, UK, under the Niger Delta Amnesty Programme, yesterday protested their denial of visas by the British authorities to enable them to complete their various programmes. The students, mostly undergraduates of Anglia Ruskin University, Cambridge Campus, and Portsmouth University, who are presently stranded in their home state of Bayelsa, called on the federal government to intervene in order to save their future. The students, who pro-

tested in Yenagoa, the state capital, on Saturday, said the the British embassy denied them visa because the Amnesty Office under the Goodluck Jonathan administration did not pay for their tuition and other relevant fees. They said the embassy told them that the Amnesty Office could no longer be trusted as it failed to honour the conditions that bound their programmes. In the letters issued to the students by the United Kingdom Visas and Immigration Office, copy of which was made available to our correspondent, the visas office indicated that the amnesty office could not be relied upon to fulfil its obligations as an official spon-

sor of the programme. The authorities said in the letter, “The Special Adviser on Presidential Amnesty Programme has failed to pay tuition fees and other allowances of students, thereby contravening the agreement which stipulates that tuition fees and other allowances of students must be promptly and regularly paid. “The office of the Special Adviser on PAP has been blacklisted, meaning that any student under the sponsorship of the said office would not be granted visa for the continuation of their programmes.” The students said the Amnesty Office had on August 13, 2015, issued them a letter informing

them of their offer of a fully funded scholarship to enable them to extend their visas for the completion of their studies but the letter was allegedly rejected. In a statement issued by the affected students and signed by Mr. Young Ikoromo, and Mr. Ebiotu Ndoni, both of the Department of Human Resources, they blamed their predicament on the past administration’s insensitivity and non-challance towards their well being. The students specifically put the blames of their woes on ex-Special Adviser to the President on Niger Delta, Mr. Kingsley Kuku, saying he allegedly failed to do the needful while he held sway.

They appealed to President Muhammadu Buhari to come to their rescue as they did not have the N3 million each allegedly required by the embassy officials to prosecute their new visas. They, however, lamented that failure to meet the 28 days deadline which expires towards the end of November would completely ruin their academic pursuit which they had laboured for more than three years. They also called on the current Special Adviser on PAP, Brig.-Gen. Paul Boroh (retd.) to keep to his promise to resolve their problems to enable them to return to their various schools so that they could complete their programmes in 2016.

L-R: Teamlead, Commercial Banking, Heritage Bank, Mobol Nnang; Chairman, Rivers/Bayelsa, Manufacturers Association of Nigeria, Hon Charles Beke; Teamlead, Public Sector, Heritage Bank, Gloria Anwana, and second vice chairman of Rivers/Bayelsa, Manufacturers Association of Nigeria, Chief Nabil Saleh, during the 31st Annual General Meeting of the association/1st Nigerian Made Exhibition sponsored by Heritage Bank in Port Harcourt.

Navy destroys over 360 metric tons of crude in Delta ElO Ogwara WARRI

Sylva

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igerian Navy Ship (NNS), Delta, at the weekend destroyed over 360 metric tons of crude oil during an operation in Olokri Creek, Warri South council area of Delta State. Disclosing this to newsmen yesterday, at the Warri Naval Base, Commander of the NNS, Delta, Commodore Raimi Mohammed, stated that the crude, estimated to contain about 12 petrol trailers were loaded in

three Cotonou Boats. Calling on all those involved in illegal activities in the waterways within the Command’s jurisdiction to quit, he said that the Nigerian Navy had devised a new means to trail all criminal activities in the creeks, which would in turn make it impossible for crime to thrive. He said: “The boats were located and arrested at Olokri Creek in Warri South council area. When we got there we discovered that the boats had crude oil, which we estimated to be over 360 metric tons, an equiva-

lent of 12 trucks of 30,000 litres each. That will give you an idea of the quantity of crude oil that was stolen. We were able to get to the boats and in line with the federal government’s directive, the boats and their contents were destroyed. “I’ll want to use this opportunity again to advise those who are engaged in these illegal activities to channel their resources towards legal activities so that the Nigerian Navy can ensure them safe maritime environment to conduct their businesses. Those who still insist

on continuing these activities will always find out that we are following and watching them closely. “I’m also aware that some of them are planning to move to some other parts of our AOR; I will assure them that by the time they get there, they will also meet us there. For those of them who don’t believe, I’m sure there will be a bitter meeting point for them. “I want to assure those involved in illegal activities that NNS Delta is now able to follow CONTINUED ON PAGE 41

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Tuesday, November 3, 2015

Tackling the menace of Lagos roadside trading RASAK MUBAU

n recent time, street trading and begging have become common sight on Lagos streets and highways. They are now some of the misuses plaguing the public open spaces in the state with up to a million street traders existing in the state. The worrisome side of this is that it has become a major prevailing form of child labour, as every major road now serves as centre of trading activities by children mostly below 18 years. Some of the child hawkers daily face the risk of death while it is more dangerous for first timers because they don’t know how to stand by the road and move between vehicles in the traffic. As a result, some have been knocked down in the course of business. Today, the menace of street trading has reached a frightening dimension because of the poor socio-economic status of many families in Nigeria. In the booming roadside trade, which also involves young people running after moving vehicles, the articles of trade include fresh fruits, beverages, wrist watches, phone SIMs or recharge cards, handsets and accessories, as well as snacks. It can be argued that roadside trading absorbs unemployment, but this is at a cost higher and hazardous than its benefit. It enables hooligans and armed robbers to costume themselves as hawkers and cause pandemonium on the roads.

It also manifests in indiscriminate occupation of public space in defiance of formal planning and land use arrangements; it has become impediments to free flow of pedestrian and motorized traffic and congested transportation networks. Roadside trading, especially by children of school age, is a negation of the International Convention on the Rights of the Child and also not in accord with the Lagos State social protection services. It is pathetic and contradicts the quest for the progress of Lagos as envisioned by the Akinwunmi Ambode administration as well as the Lagos State Development Plan. There is divergence of opinions on what should be the response of the state government to street trading. Some are against the ban on street trading on the account that it is an integral part of African culture. Others see it as a manifestation of both poverty and underdevelopment, while some others see it as a natural trend in every major city of the world. What those who hold this view, however, forget to add is that trade regulation and issuance of trade licence is a standard practice in every civilized country of the world. It is, indeed, difficult to see how a phenomenon that promotes child trafficking, misuses of public open spaces, insecurity on the highways, environmental degradation and violation of human rights could be allowed to thrive in any sane society. It is crucial to reveal that the Lagos

MANY CHILDREN HAVE SUSTAINED LIFELONG INJURIES THROUGH STREET TRADING AND HAWKING State Development Plan 2012-2025, upon which the state government anchors its developmental programmes, is structured under four pillars of Social Development and Security; Infrastructural Development; Economic Development, and Sustainable Development. Unequivocally, there is no way street trading will be accommodated if our development plan is to become a reality. The Lagos state Ministry of Youth and Social Development has identified and reported severally that street trading is a major contributor to child trafficking. Its Education counterpart is saddled with responsibility of mainstreaming out-of-school children into formal school systems. Despite the huge resources that the state government has committed into education, street trading partly contributes to low academic performance and outright school drop-out by children in the state. In a recent study carry out in Epe division of the state, among child traders, 70 per cent of them admitted that street trading had a negative effect on their reading schedule, while 79.2 per cent reported that it affected their school attendance rate. No responsible person

should be happy seeing children in uniform or mufti hawking goods at hours when they ought to be in schools. It is, indeed, inhuman for anyone to engage a child in money making venture as seen every day on our roads with children running after moving buses and cars to sell and collect money. Aside that, such children are denied basic education which is another important right of every child. Many children have sustained lifelong injuries through street trading and hawking. Moreover, children who engage in hawking or other forms of hard labour may physically wear away before they actually reach the productive age in the economy. Many children had died as a result of hawking in traffics through accidents. With all the environmental menace and insecurity associated with street trading, it is quite obvious that it could birth other social and security problems. It should be stressed that Nigeria has enacted legislation concerning child labour within the Labour Act and has also adopted the Child Right Act (CRA) (2003). A key provision of the CRA is that using children for hawking is a punishable offence under the Act while Section 59 (b) of the Labour Act which prohibits the employment of children under the age of 16 years in any work which is dangerous and injurious to their health. Musbau is of the Features Unit, Lagos State Ministry of Information and Strategy, Alausa, Ikeja.

For Justice Ayoola @ 82 KEMI OLAITAN

ustice Emmanuel Olayinka Ayoola (CON), the former chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) turned 82; expectedly there was every cause for celebration. I was one of the numerous well wishers on that occasion. Though he stays in Ibadan and his name a household given his worthy contributions to the legal profession both as a practising lawyer and a judge, my first contact with him was few years ago when one of the editors at the National Mirror sent two books to me for onward delivery to him. When I called his line, he gave me an appointment for the following day. The reception on that day was unexpected, coming from a man who has dined and wined with the movers and shakers of the country and beyond. I still cherish that memory till today. Born to a distinguished Ijesha parentage on October 27, 1933, Justice Ayoola’s father, an educationist, community leader, was for many years chairman of the Board of Governors of Ilesha Grammar School. He later became the President of the Customary Court, while his mother too held one of the highest female titles, the Eyerise of Ilesa. Ayoola was educated in some of the best and most prestigious elementary,

secondary and tertiary schools in the country. For his primary education, it was Temidire Model School, Ilesha, a school attended by other prominent Nigerians that included the late Justice Kayode Eso and Justice Alfa M. Belgore. He had his secondary education at Ilesha Grammar School, and the London University and Oxford University for his tertiary education. He was called to the Nigerian Bar in 1959 and immediately entered into private legal practice in the Chambers of Ayoola Brothers, which he co-founded. Among those who passed through the Chambers include the legal luminary, Aare Afe Babalola (SAN). An activist during his days as a practicing lawyer, he was a virile and active member of the Nigerian Bar Association, both at the local and national levels where he served in various capacities that included Assistant Secretary, NBA, Ibadan branch; Secretary, NBA, Ibadan branch and National Assistant Secretary-General. He also served as a member of the Editorial Board of the Nigerian Bar Journal and the Editorial Board of the Nigerian Monthly Law Reports. His foray into the Bench started when he was appointed as a counsel in the Western State Ministry of Justice, later appointed a Judge of the High Court of the Western State on February 1, 1976, and few weeks after became Judge of the High Court of Oyo State.

ONE OTHER THING THAT CANNOT BE TAKEN FROM THE OLD MAN IS HIS PASSION FOR THIS COUNTRY With a distinguished career on the High Court bench, Justice Ayoola was elevated to the Court of Appeal on July 8, 1992. After only six years he got elevated to the Supreme Court on 25 November, 1998. Justice Ayoola had stints as a judge outside in the Gambia as a judge of the country’s Court of Appeal in 1980 and in January 1983, was appointed the Chief Justice of the Gambia. Similarly, in November 1992, he was appointed a Justice of the Court of Appeal, Seychelles and rose to become the President of the same court in January, 1999. He bowed out on 27 October, 2003, when he clocked 70 years. It was from retirement that the Chief Olusegun Obasanjo administration made him the second chairman of the ICPC after the exit of Justice Mustapha Akanbi. Though retired, certainly the man is not tired as anytime I paid him visit to him at his Ibadan residence, he would always be in his desk with lots of books scattered on his table. Given his penchant for work at his age, one day I was forced to ask him when he found time to

rest. His response that day was that he always found pleasure in work. According to him, the day he stops finding pleasure in what he is doing, he will know that the time has come for him to rest. One other thing that cannot be taken from the old man is his passion for this country. Wake him up at any time, his concern is for Nigeria to take its rightful place in the comity of nations. Indeed, the passion is so much that his foundation, Yinka Ayoola Institute, is solely established to promote ideas and values for the development of the Nigerian society. The activities of the Institute, according Justice Ayoola, are directed at deepening the promotion of values, transparency and integrity, good governance, generation and storage of creative ideas for continuous development of society, creative thinking as well as appreciation and celebration of achievements in society. Like it or leave it, in all my encounters with Justice Ayoola, I see him as a religious and God-fearing man. Happy birthday, sir. Olaitan is the Ibadan correspondent of this newspaper. 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, November 3, 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

Police killing of Beauty Nwankwo

gain, the police was in the news penultimate week for the wrong reason. A trigger-happy policeman guarding an unnamed hotel in Lagos (his name is probably kept under wraps by police authorities) shot and killed Beauty Nwankwo, apparently a single mother, at his duty post following a scuffle between him and the woman. The policeman serving at the Maroko Police Station on Victoria Island, reportedly had an altercation with Beauty, the mother of Angel Macleod, a 14-year-old tennis star, and hit her in the process. Beauty was said to have retaliated by hitting the unrestrained policeman back with an object, following which the policeman drew his gun and fired a shot at her at close range. The Coordinator of Chevron Tennis Academy, Mr. Chris Enahoro, was quoted as saying when he visited Maroko Police Station in search of answers to the brutal murder: “I was told that the police officer (that killed Beauty) said that he shot in the air and the bullet hit something before hitting Macleod’s mother in the leg and causing her death. But the eyewitness at the spot said that after the officer accosted the deceased and slapped her, she struck him with a stone and in

retaliation, the officer allegedly shot her point blank. But it ridiculous to say you shot in the air”. Enahoro stated, in addition: “And only on Wednesday, one of our senior players, Destiny Da-Silva, who was on Channels TV with the Commissioner of Police in Lagos State, quoted the CP to have said that the deceased was struggling with the gun of the officer when the incident happened. My first question to the CP is: Was he at the scene of the crime when it happened to now act as a witness in such a clear case of aggravated murder? How can the CP turn to a witness for the officer who had earlier said in a statement that he shot into the air? Is the CP trying to cover up for the officer in question when the trial has not started?” Not too long ago, policemen in Akure, Ondo State, allegedly killed a 50-year-old female politician, Ronke Adelugba. Reports said the policemen invaded her house without any search warrant in search of ‘miscreants’. An argument ensued and a police officer hit his gun butt on the woman’s head; and she slumped and died. The cruelty and brutality being perpetrated by bad eggs in the Nigeria Police, an institution part of whose charge is the

November 3, 1982 The Salang tunnel fire in Afghanistan killed up to 2,000 people. The tunnel fire occurred during the Soviet occupation of Afghanistan. Details were uncertain, but the incident might have been the deadliest known road accident; and one of the deadliest fires of modern times. The Salang tunnel, which opened the famous Salang Pass (or Kotal-e Salang) to motor traffic, was built by Soviet engineers.

FOR THE POLICEMAN THAT KILLED BEAUTY, WE INSIST THAT IT IS NOW THE TURN OF

JUSTICE.

NIGERIANS

AND THE WORLD ARE ALERT AND WATCHING protection of life and property of citizens; and which of all the security agencies, is supposedly closest to the people, are heart-rending. The police in Nigeria today are no less as brutal and oppressive as their peers in colonial times, though they deceive themselves with the lip service of being ‘your friend’. Unspeakable are the wicked, exploitative and repressive conducts of the crooks in the nation’s police. The opprobrium oozing from the acts of such cave policemen, and the ruinous image they attract to the police as a body; and the nation’s human rights records, locally and internationally; appear not to be bothering the police hierarchy enough to take drastic steps to curb impunitypolicing in the land, except mouthing their feeble resolve to do so. Buttressing our position is the suggestion that the Lagos CP jumped into perverted conclusion about what transpired between a blood-thirsty

ON THIS DAY November 3, 2013 A solar eclipse swept across Africa, Europe and the Eastern United States. It was a total solar eclipse in some of the areas affected, a hybrid eclipse of the Sun with a magnitude of 1.0159, with a small portion over the western Atlantic Ocean at sunrise as an annular eclipse. The rest was a narrow total solar eclipse. It happened simultaneously with the 2013 Abu Dhabi Grand Prix.

policeman and the woman he shot dead with a gun procured with state resources for the protection of the life and property of citizens. Mr. Enahoro said it all, in any case. Quite recently, a blogger, Emmanuel Ojo, narrated how the police manhandled him and illegally incarcerated him for three days allegedly for maligning the image and personality of the First Lady of Ogun State, in a country that enshrines fundamental human rights in her Constitution; where the limits of police detention power are spelt out; and where courts are in place for the offended in search of redress. Said Ojo while recalling his saddening date with the police: “… The next thing I heard was ‘gbam!’, a swift and hard slap on my face (by a policeman) that left me almost urinating in my pants…”. It is thus obvious that the complete change in the attitude of the police in Nigeria, which the Inspector-General of Police (IGP), Mr. Soloman Arase, spoke about when he assumed office last April, is far-flung. Arase and his men should better buckle-up. But for the policeman that killed Beauty, we insist that it is now the turn of justice. Nigerians and the world are alert and watching.

November 3, 2014 ‘One World Trade Center’, the main building of the new World Trade Center complex in Lower Manhattan, New York City, United States, was officially opened. The 104-storey structure shares a numeric name with the North Tower of the original World Trade Center (WTC), which was destroyed in the terrorist attacks of September 11, 2001. It stands on the northwest of the WTC site.

Business

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Tuesday, November 3, 2015

Desertification threatens survival of 20m people in Sahel –UN 28

Assessing Buhari’s one million yearly housing units’ feasibility 25

Mortgage and Real Estate Fraud Prevention: Let charity begins at 27 home AIRLINES’ FLIGHT SCHEDULES Med-View Airline

Rifinery

Appraising the implications of subsidy removal for the economy The raging controversy and public discourse on whether or not fuel subsidy should be removed by the Buhari government has generated heated arguments for and against by analysts, commentators, politicians and generality of Nigerians. In this report, Johnson Okanlawon, takes a critical look at the arguments for and against the fiscal option and its implications for the economy.

o start with, what is fuel subsidy? Fuel subsidy, in the context of the Nigerian situation today, refers to the differential payment by the government to marketers for the importation of fuel, in order to keep the price of fuel below the expected open market price. The Emir of Kano, Alhaji Muhammadu Sanusi 11 last week in Lagos advised President Buhari to remove the subsidy on fuel in order

to halt the gravitation of the nation’s economy into fiscal precipice. The former governor of the Central Bank of Nigeria, CBN, declared that Nigeria could no longer afford the many leakages that had ravaged and eaten deep into the economic system for ages, lamenting that in the first two quarters of this year over N500 billion was spend on debt servicing and that at year end the figure could rise to N1 trillion.

There is no room in The governmenT’s balance sheeT for borrowing and spending. we have no opTion buT To block leakages and To sTop non-prioriTy expendiTures. iT is for This reason ThaT we cannoT afford To spend all our Time Talking abouT The pasT

He noted that the N1 trillion was more than the amount budgeted for health, education and defence combined. The Emir said: “There is no room in the government’s balance sheet for borrowing and spending. We have no option but to block leakages and to stop non-priority expenditures. It is for this reason that we cannot afford to spend all our time talking about the past. It is time to look at what we are doing now and ask ourselves if the fiscal stance and monetary stance are the appropriate stances for the situation we are in.” Analysts at the Financial Derivatives Company Limited have expressed support for the removal of fuel subsidy saying it would reduce the pressure of the exchange rate of the naira and lead to long

term appreciation of the national currency. “More importantly, because there is an inflated import bill due to the subsidy scam, subsidy removal will reduce the pressure on the currency and the naira will appreciate in the medium term”, they said in the FDC Economic Bulletin issued last week. They noted that removal of fuel subsidy will produce short term gain but long term gain. “Subsidies are reverse taxes and if removed will reduce the disposable income of consumers in the short term. However, it will result in an efficient redistribution in income, spur a rehabilitation of the refineries and an efficient oil industry in the long run; short term pain but long term gain”, they said. According to them, the benCONTINUED 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, November 3, 2015

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Appraising the implications of subsidy removal for the economy CONTINUED FROM PAGE 19

efits associated with a subsidy removal are usually long term which will be solely determined by how the appropriated subsidy funds will be utilized to support optimal productivity within the economy. “If the subsidy were removed today, the pump price would jump to approximately N130, which is the total open market price when one considers both the landing cost of petrol at N115.77 and the margin for transporters and exporters of N15.49 as of May 10, 2015. However, the pump price would be guided solely by global oil prices and would not be at the mercy of oil marketers. National Mirror investigation showed that N10 trillion was spent on subsidy between 2006 and December 2013. Much of the shortfall in excess crude account was used to pay oil marketers. This amount is more than Nigeria’s two-year budget figure, three times the budget allocation for health, and two times budget allocation for education in the 2014 fiscal year. On the subsidy removal, the Chief Economist for Africa with Standard Chartered Bank’s, Razia Khan, said, “If you look at the reasons for fuel subsidy and its economic effects, the subsidy is very regressive because it is a cost on the whole economy. It takes resources away especially from the poor and rewards those who consume more fuel”. For instance, while most of the investors in the nation’s oil and gas sector have not spoken specifically on fuel subsidy removal, they however are using a more subtle terminology to canvass total removal of the subsidy regime. The President of the Lagos Chamber of Commerce and Industry, LCCI, Mr. Remi Bello, whose group has been in the vanguard of the campaign against fuel subsidy in the past two years because of the fraud it symbolises, advised the Federal Government to immediately deregulate the oil and gas downstream sector in order to provide an enduring solution to the recurring problem of petroleum products’ scarcity. According to him, the measure would also help to tackle the menace of corruption inherent in the subsidy regime, the collapse of refineries, lack of investment in the downstream sector, loss of jobs and so on. Noting that options open to government on the subsidy saga remains few, the LCCI boss pointed out that the current regime of subsidy and government’s direct involvement in the operations of oil and gas sector is undesirable for the economy. Also, the chairman, Capital Oil and Gas Industries, Mr. Ifeanyi Ubah, has also advocated the deregulation of the downstream sector as a strategic option of ensuring its efficiency, transparency and improved services and returns on investments. While saying that he had identified the corruption in the present regulated system in the past, he urged the new administration to frontally tackle the monster by totally deregulating the downstream sector. Similarly, the chairman of Internation-

Buhari

Kachikwu

al Energy Services Limited, Dr. Diran Fawibe, had pointed out that deregulation was desirable for the economy as it would help in attracting substantial investments into the downstream sector in the medium and long terms. However, a renowned economist, Mr. Henry Boyo, has charged the Federal Government to jettison the proposal to removal the subsidy. According to him, rather than removing the subsidy as it is being peddled, the subsidy should be allowed to remove itself naturally. He said that the government should address all the economic indexes responsible for the sabotage on the common wealth of the country. He said that the direct removal of the subsidy will serve as a great disincentive to the economic well being of the all Nigerians. He explained that there is a correlation between exchange rate and the pump price of petroleum product, adding that focus should be placed on how to address issues with the exchange rate. Boyo further cautioned that the subsidy is wasteful and it should go naturally. He noted that the scheme must be removed in a manner that would be realizable. ‘’The means of processing dollar is a cesspool of corruption which should be tackled. The situation where the CBN is allowed to trade Dollars to the Bureau de Change, as a means of mopping up excess liquidity, is a conduit for corruption. ‘Save Naira, Save Nigeria’. Once you remove the element that encourage subsidy, the oil marketers who have benefited from the subsidy scam would be cut off from the system.’’ he cautioned. ‘‘It is falsehood to believe that subsidy

will solve a critical aspect of the country’s problem. To address this, Nigerians must be willing to stop CBN from making dollar available at the parallel market. It is unfortunate that almost 60 per cent of the funds available in the system have remained idle due to the actions of CBN.’’ he warned. According to him, it is out of place to believe that Nigerians will benefit when the price of crude oil falls. The pump price cannot go down if cost of Dollar remains high. He said, ‘‘By the time the CBN substitute the Naira allocations issued to the three tiers of the government, the liquidity blot would have been so much that interest rate will be impossible to reach. We would have to accommodate a situation where interest rate would revolve around 23 and 26 per cent. ‘’Since 2009 when the prices of Diesel and Low Pour Fuel Oil (LPFO) were deregulated, the products have not been sold at cheaper rate, due to the weakness of Naira against Dollar. It is amazing that despite the licenses given to twenty corporate organizations the refineries have not seen the light of the day. This is because of the issue with the foreign exchange that is weighing down on investment in the sector. There is no way that the removal of subsidy will ensure transparency in the activities of Nigerian National Petroleum Corporation- NNPC. If the foreign exchange issue is addressed corruption in the system would go. ‘‘There is a correlation between price of fuel and exchange rate, it is inevitable that the economy will be crippled if this is left to increase without caution.’’ He however warned that the Govern-

If the prIvate Investors are allowed to buIld refInerIes whIch are crItIcal to growth, we also need to be aware that securIty threat, hIgh domestIc cost of fund and regulated prIce would stIll be there to threaten the operatIons

Rewane

ment must not be involved in building more refineries, noting that the constraints to government refineries are very evident. He said:‘‘There are four refineries of various capacities but the functional one produces less than 25 percent of its requirement. As such, the Federal Government would need to build 16 more refineries to get 80 percent of the remaining from the four existing refineries. This action is not sustainable. ‘‘This is because government utilities are forever inefficient, in terms of service, profitability and efficiency no matter the efforts to checkmate the rate of corruption. Issues around inefficiency, constant shutdowns, turn around maintenance and heavy leakages due to political interference would always build up along the line. ‘‘If the private investors are allowed to build refineries which are critical to growth, we also need to be aware that security threat, high domestic cost of fund and regulated price would still be there to threaten the operations. Note that security threat in Iraq, has not stopped the Americans from cancelling their operations in those areas. High domestic cost of fund would also not be a problem, because investors would not rely on domestic funding. The major challenge would be the regulated pricing regime by the government which could force affects the profit of the investors.” Meanwhile, the Director General, LCCI, Mr. Muda Yusuf, said that despite the position of Boyo, the scheme must be removed by the new administration. He maintained that it is in the overall interest of the economy and citizens for scheme to be discontinued regardless of the implications on the economy. He however revealed that the scheme in its entirety has created a distortion in the system, adding that it is the biggest hole in the finances of the government. Yusuf said: ‘‘The scheme is not sustainable, for several years, the economy suffered severe bleeding from this phenomenon. Corruption is inherent in the subsidy regime and that is why it should go.”

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Business News

Tuesday, November 3, 2015

Arik Air launches customised air travel insurance an Arik Air ticket to any destination in Nigeria on its online platform, then buy an air travel insurance for just N1,000.00 using Verve Card, MasterCard or Visa Card. Adebanji stated that the insurance policy provided cover against personal accident (up to N1, 000,000.00) resulting in death, permanent disability or bodily injury within 90 days of the occurrence of the accident. He emphasised further that the cover was from airport to airport while onboard of Arik Air flight.

Olusegun KOiKi

rik Air has launched a customised air travel insurance, which is aimed at taking passengers flying experience to a new level. The new air travel insurance enables a passenger to enjoy customised domestic travel insurance on Arik Air with only N1, 000.00. Statement by the spokesman of the airline, Mr. Ola Adebanji said that all a passenger needed do was to buy

H enumerated the benefits to also include flight cancellation or delays of more than eight hours, N20,000; emergency medical expenses, up to N50,000; mishandled/missing baggage (inconvenience), up to N20,000; and damage to baggage, up to N20,000 per passenger. Adebanji clarified that the new insurance policy introduced by the airline was not the same as the normal cover guaranteed for all passengers in

case of air crash as provided for by the International Civil Aviation Organization, ICAO, recommendation. The air travel insurance is provided by Old Mutual Insurance Company in partnership with Risk Analyst Insurance Brokers. Commenting on the new introduction, Arik Air’s Managing Director, Mr. Chris Ndulue said the airline introduced the policy in order

to further improve the flying experience of air travellers, stressing that it was a unique initiative from the airline. He said, “We want to take the passengers’ flying experience to a new level and that informs the decision to introduce the air travel insurance. The interests covered by the policy are quite unique and totally different from the customary cover provided for all passengers in case of an air crash.”

Airtel unveils “Call Assist” package for business executives isaiah erhiawarien

elecoms services provider, Airtel Nigeria, has unveiled “Call Assist”; a new phone call management Value Added Service (VAS) specially designed for the convenience of top corporate and business executives. With the Call Assist service, customers with very busy schedules can transfer calls from their phones to designated assistants who will take messages on their behalf when they are busy and cannot take calls. The assistant can either be a secretary, personal assistant, family member or anyone preferred by the customer. To sign up for the service, customers can subscribe by sending *464# to the short code 38464 and will be charged N750 per month irrespective of service class or tariff plan. Speaking on the product, Vice President, Segments, Usage & Retention, Airtel Nigeria, Mr. Dinesh Balsingh, said that the new service offered busy executives the flexibility and freedom to manage incoming calls for them while at social functions or in very serious meetings where it might be difficult to receive calls. “As an organisation which is

committed to providing exceptional services to its customers, we have created this service with the aim of ensuring that our customers never miss important calls again, irrespective of their busy schedule. All they just need do is to assign the call to an assistant who will receive the message and pass it on to them at a more convenient time,” Balsingh said According to the telco’s chief, the service is available in three options; Live, Controlled and Timed. With the ‘Live’ option, phones of the call owner and hisassistantrings at the same time. If the call is picked by the call owner and he does not wish to engage in long discussions with the caller, the call can be transferred to the designated assistant by dialling*1. However, if the assistant picks the call and needs to transfer the call to the call owner, then the assistant will need to dial *2 on this phone Under the controlled option, the call owner’s phone rings, but he either drops or rejects the call, and the call is automatically transferred to his assistant to talk to the caller. For the ‘Timed’ option,when the call owner does not pick his call after about 10 seconds, the call is automatically transferred to the assistant. Customers can also choose to unsubscribe at any point by sending ‘ON’ or ‘OFF’ to 38464. There is also the option of restricting the service to work only week days.

L-R The paramount ruler of Kagoro in Kaura local government of Kaduna state, His Royal Highness Ufuwai Bonet ;a Sterling Bank staff; Business Executive, Retail- North Central, Sterling Bank Plc, Umar Suleiman, and the wife of the Deputy Governor, Kaduna State Her Excellency, Mrs. Ladi Bala Bantex at the formal opening ceremony of the Bank’s Kagoro branch.

Fidelity Bank Q3 gross earnings hit N106.6bn in Q3

idelity Bank Plc, one of Nigeria’s most capitalized financial institutions has released its third quarter result for the period ended September 30, 2015 posting an increase of 11.0 percent and 1.8 percent in its gross earnings and profit respectively. Gross earnings grew from N96.0 billion in the nine month period to N106.6billion in the third quarter of 2015. Profit after Tax (PAT) went up by 1.8 percent to N11.4 billion as against N11.2 billion made in the compara-

SAHCOL to provide SA Airways services on Abuja route Olusegun KOiKi

he Skyway Aviation Handling Company Limited, SAHCOL, has been named by South African Airways as a preferred ground handler in its Abuja operations, which commences January 2016. Statement by the General Manager, Corporate Communications, SAHCOL, Mr. Basil Agboarumi

stated that the agreement kicked off the beginning of another long standing relationship between both companies in providing seamless services to the airline. Agboarumi stated that SAHCOL would provide services such as passenger, ramp and cargo handling services to the airline in Abuja. He declared that till date, SAHCOL has successfully established a very strong market presence in the

domestic and international aviation industry, with its unmatched expertise in providing exceptional passenger, ramp and cargo/warehousing services to its clients. The statement added, “SAHCOL at the moment has become a reference point where the efficacy of a successful flight is born, having implemented structures and procedures in line with international best practices.

ble period of last year. While total equity increased by 4.2 percent to N180.3 billion from N173.1billion as at December 2014, operating income stood at N62.0 billion, a 9.7 percent rise compared to N56.5 billion in the nine month period. Commenting on the result, Managing Director and Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo stated that business operations during the period under review were constrained by regulatory and economic pressures arising from currency devaluation concerns, tight monetary stance, and implementation of the Treasury Single Account (TSA). Okonkwo explained that this had culminated in negative earnings in the banking sector. He however, expressed great optimism in the new business model which the Bank adopted and which resulted in a yearon-year (y-o-y) growth in both fund and fee based income resulting in a 3 percent growth in profitability . “Despite these challenges we continued with the disciplined ex-

ecution of our medium term strategy. Profit before Tax (PBT) increased to N13.8bn despite the decline in our total assets due to the TSA implementation”. Interestingly, net interest income increased by 10.8 percent y-o-y to N40.6 billion but declined by 4.8 percent q-o-q due to the reduction in its earning assets. Okonkwo, however pointed out that the bank continued to increase yields on earning assets faster than growth in funding costs, which improved its NIM (Net Interest Margin) to 6.9 percent in third quarter of 2015. This growth put the bank in pole position to attain its 2015 target of 7.0 percent. According to the Bank Chief, Net Fee Income increased by 7.7 percent y-o-y to N21.4 billion but declined by 4.2 percent quarter-on-quarter (q-o-q) due to lower FX (Foreign Exchange) Income on the back of trading restrictions in the market.

Business News

Tuesday, November 3, 2015

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Experts brainstorm on reinventing Positive signals for Egypt’s Nigeria’s economy FMCG sector DaviD auDu

he need for Nigeria to revisit her economic policies especially in the wake of low oil price and rising threats from declining revenue, got a boost recently at the 2015 annual FBNQuest Investor Conference held in Lagos recently. Themed “Re-inventing the Nigerian Economy: Beyond the Rhetoric”, the conference had in attendance notable stakeholders from the financial and economic sector as well as the oil and gas industry as guest speakers and panelists. In his welcome address, Managing Director of FBN Quest, Kayode Akinkugbe, stated that the theme of the conference is quite topical at this time, particularly with the wind of change currently sweeping the country. “We want to explore what initiatives and policies are necessary to unlock the inherent potential in the Nigerian market. How we do more with less and boost revenue whilst instilling fiscal discipline; where we have examples of successful reforms; and how we unlock private sector funding sources”, he said. In his presentation on the topic “When Reforms Work: Lessons from Emerging and Frontier Markets”, Adjunct Associate Professor, New York University, Daniel Altman, highlighted some impediments stalling economic growth in the country to include gender inequality, inadequate health coverage, over dependence on oil, obsolete taxing system etc. He proposed immediate policies that the coun-

try could adopt in the next three years to achieve economic independence. “There is need to expand the health coverage, give land titles to the poor, enact a modern competition law, negotiate a trade agreement with a major economy, create an autonomous anti-corruption authority, implement a quota for women in the National assembly as well as install a flat tax for simplicity and transparency during the economic transition,” he said. Positive that the nation can still boost its revenue despite the current decline in growth, CEO Nextnomics, Dr Temitope Oshikoya, and CEO, Economic Associates, Dr. Ayo Teriba, both panelists on the conference spoke on how the federal government can boost its revenue while instilling fiscal discipline. According to Oshikoya, while govermment focuses on blocking bottleneck leakages, there is also need to show how much the transition to blocking leakages is impacting on the gross domestic product, GDP. He called for the removal of subsidy, stating that instead, it should be diverted towards social welfare program. Highlighting the state of the Petroleum industry, CEO, ME Consulting, Victor Eromosele, who spoke on the topic “Reinventing and adequately financing the Nigerian Petroleum industry” stated that persistent oil prices compel a more efficient industry; both public and private. In his words, “the good news is that even under a low oil price regime, opportunities exist and those

opportunities deserve financing despite the flight to safety and quality.” He noted that the NNPC needs profit centres and not cost-centres to globally compete, adding that, existing joint ventures would need revamping to perform and existing PSCs reforms, despite understandable IOCresistance.

n a year marked by major acquisitions, Egypt’s food manufacturing industry is preparing for a round of new listings, as companies look to finance their expansion plans on the back of a more favourable outlook. Major market moves Late September brought news that US-based food manufacturer Kellogg Company had acquired Egypt’s largest cereal producer, family-owned Mass Food Group, in a deal worth around $50m. Founded in 1996, Mass was the first company to launch breakfast cereals in the Egyptian market and currently exports to more than 30 countries around the world, with annual sales of $18m. In a press release announcing the sale, Chris Hood, president of Kellogg Europe, described Mass as “an excellent strategic fit” for the industry giant which – thanks to its established local brands – “will help unlock the growth potential of the cereal category in the key markets of Egypt and North Africa”. The acquisition comes just months after Kellogg outlined its broader emerging market growth strategy. According to the company, the MENA region is pegged to play a central role in its plans, and Egypt, the region’s most populous country, represents a strategic market for the food producer. Kellogg’s strategy was in evidence earlier in the year, when it paid $125m for an 86% stake in Bis-

co Misr, Egypt’s largest packaged biscuit company in January. This optimism is also translating into initial public offerings (IPOs), as fast-moving consumer goods (FMCG) players look to finance planned expansions. In mid-October local dairy producer Domty, also known as Arabian Food Industries, announced plans to channel $13m into a new factory in 6th of October City, just outside Cairo, with the aim of increasing annual production capacity by 300m units. According to previous statements from the company, Domty expects to partly finance the expansion through listing a portion of its shares on Egyptian Stock Exchange (EGX) in the fourth quarter of 2015 or the first quarter of 2016. The announcement came on the heels of Egyptian food maker, Edita Food Industries’ successful listing of 30% of its shares on the EGX in March, which was 4.5-times oversubscribed. The company’s price-to-equity ratio has shot up in the wake of the sale, from 25.2X to 40X by late June, according to investment bank Pharos Holding, signalling growing market confidence and investor appetite.

Galina, a leading producer of frozen fruits and vegetables, has also hinted at plans to list in order to finance its push to double exports to $60m by 2016, according to local media reports.

Forex Rally debuts in Nigeria with forex championship Johnson okanlawon

F L-R : Chief Executive Officer, Tony Elumelu Foundation, Parminder Vir Obe, CEO, United Capital, Toyin Sanni, Acting President, Chartered Institute of Stockbrokers (CIS) Mr Oluwaseyi Abe and CEO, Nigerian Stock Exchange Mr Oscar Onyema at the 19th Annual Stockbrokers’ Conference in Lagos

Saudi consumers sustain spending spree despite oil slump

pend the afternoon strolling through Riyadh’s shiny shopping malls, or an evening at one of its luxury restaurants, and you’d never guess there’s an oil slump. That’s not an accident, it’s Saudi policy in action. Sharing oil wealth with the public has helped keep the Al Saud family securely in power as turmoil sweeps the region. When the revenue slows down, as it’s doing now, the kingdom’s rulers would

rather run huge budget deficits than risk tampering with that bedrock social contract. Eventually, economists say, something may have to give. The International Monetary Fund predicts a fiscal gap exceeding 20 percent of economic output this year, and says at that rate Saudi savings would run out after five years. Standard & Poor’s cut the country’s credit rating last week. But for now, as it looks to trim project spending

and payments to contractors, the world’s top oil exporter is making sure most of its citizens don’t feel the pinch. “Directly, the cuts are not going to affect a typical household,” Farouk Soussa, Londonbased Middle East Economist at Citigroup Inc., said by phone. They probably won’t touch “the social safety net, the welfare transfers or any of the social expenditures the government undertakes,” he said

orex Rally, an international forex brokerage company, has announced the official launch of its operations in Lagos, Nigeria. Apart from providing an array of free educational resources to empower traders with access to global forex industry expertise through local experience, the company has also introduced the first ever Nigerian Forex Championship which will be the most lucrative in its offering of attractive prizes and educational to participants. A statement by the company indicated that the competition was designed to encourage local traders to achieve their financial goals. According to the company, for three months beginning November 2, to January 29, 2016, traders have the opportunity to win one of the thirty prizes from a fund worth over a hundred thousand dollars

and the champion will be awarded a grand prize of luxurious Toyota Hilux. The company explained that participants can register by opening a contest account and deposit a minimum of $500 dollars or N100,000. “The winner will be the trader with the highest number of points determined by three categories which include return on investment, deposits amount and turnover. Traders can join the contest at any time and will still have a fair chance to win the grand prize due to the points ranking system. “Nigeria’s capital markets have a meager penetration within the general public and knowledge of trading is low in the country. Therefore, we have a clear mandate to advance financial education to the highest level by inviting accomplished trading experts to Nigeria to share their expertise with local traders”, says Razvan Mihai, Forex Rally Educational Partner in Nigeria.

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Tuesday, November 3, 2015

Jobs & Career

Experts laud Nigeria’s stance on Pan- African labour union Sylva EmEka-OkErEkE

ome labour experts in the country have lauded the moves by some African countries, especially Nigeria and Ghana to revive the Organization of Trade Unions of West Africa, OTUWA. OTUWA, like the International Labour Organisation, ILO, is the umbrella labour organisations in West Africa before it went into comatose. President of the Nigeria Labour Congress, NLC, Comrade Ayuba Wabba had noted that such move would contribute to regional integration of the sub-region. He said the NLC believes that trade unions’ regional solidarity is a possible solution to the continent’s deep and prolonged labour, economic and social crisis. Nigeria, he said, has offered to serve

Wabba

CIPM Registrar, Sunday Adeyemi

as host of the secretariat of OTUWA to provide logistics support for its initial takeoff for one year as part of its commitments to the existence of a formida-

ble West African regional trade union organization. He therefore lamented continued declining of state-imposed barriers to

ASCSN confirms FG’s move to pay salary arrears Sylva EmEka-OkErEkE

ecretary-General of the Association of Senior Civil Servants of Nigeria, ASCSN, Comrade Alake Lawal, has said the Federal Government will offset the backlog of salaries and allowances owed to workers. Lawal, who is also a member of the Presidential Panel on Bailout for Federal Public Servants, also disclosed that the outstanding benefits to thousands of public servants in the Federal Ministries, Departments and Agencies, MDAs, including salary arrears and promotion arrears would be paid. He hinted that the Union had written series of letters to the Presidency, intimating him of the outstanding salaries and allowances, adding that the President had ordered all Federal Ministries, Departments and Agencies to compile names of affected officers for quick action. Members of the Committee that worked on the Salary Arrears, he said, are drawn from the Federal Ministry of Finance, Office of the Head of the Civil Service of the Federation, Federal Ministry of Labour and Productivity as well as the Association of Senior Civil Servants of Nigeria. The ASCSN scribe also explained that the Committee had pleaded with

the Presidency to accept as supplementary, the list from few other MDAs that could not meet the 7-day deadline for the submission of names of affected officers. He added that a memorandum was being forwarded to Mr President on the completion of the assignment on bailout for Public Servants. “We must also express gratitude to the Permanent Secretary, Federal Ministry of Labour and Productivity, Dr Clement Illoh, the Chairman of the Panel, for the able manner he steered the affairs of the Committee. “In particular, our special thanks also go to President Muhammadu Buhari for directing the compilation of the arrears and allowances of the Federal Workers. We urge him to continue to play his fatherly role by directing the release of needed funds so that these outstanding salaries and allowances can be paid in the next few weeks in order to put the entire sordid story behind us,” he said.

inter-country flows, saying it is paving the way for increased regional trade. A labour analyst, Chris Onyuma said such coordinated trade union would offer great opportunities for access to a wide range of technological knowledge as well as sharing ideas and experience in different areas of human endeavour. Onyuma said, the umbrella body of workers in the continent would play a crucial role in the sustenance of African regional trade union organizations for workers benefits in the subregion as well as Africa. Sola Adeyemi, a labour enthusiast, said revival of the union would strengthen the Economic Community of West African States, ECOWAS, just as it would help to form a strong regional trade organization to effectively engage businesses in the scheme of things.

Firms to promote disability inclusion in workplace

ew Global Business and Disability Network Charter have unveiled its plans to promote inclusion of persons with disabilities in global work places. Eleven major international companies have become the first signatories of the newly-created “ILO Global Business & Disability Network Charter” in a ceremony held at ILO headquarters in Geneva recently. The Charter expressed its commitment to promote and include persons with disabilities throughout their operations worldwide. It covers a wide range of areas, from protecting staff with disabilities from any kind of discrimination, to making company premises and communication to staff progressively accessible to all employees with disabilities. Director-General of the International Labour Organization, ILO, Guy Ryder

said, “Employing persons with disability is not just a good moral cause; it is also good for business.” According to him, “The lack of equal employment opportunities for persons with disabilities often means lives of poverty and social exclusion. By honouring the commitments of this Charter, the private sector will be showing real leadership in making it possible for people with disabilities to have productive work and to live in dignity’’, “The first signatories companies to sign the Charter will help us spread a simple but essential message: employing persons with disability is not just a good moral cause, it is also good for business. This new Charter can also make a substantial contribution to realizing many goals of the 2030 Agenda for Sustainable Development”, he noted. Speaking on behalf of the signatories, the Net-

work steering committee chairperson, Wendy Orr, said: “We are proud to be among the first companies to sign the Business Charter on Disability. This is one step further in demonstrating our commitment for the inclusion of people with disabilities in the labour market. We believe and have experienced how an inclusive and diverse workforce provides opportunities for employers, employees and society overall. We believe and have experienced how an inclusive and diverse workforce provides opportunities for employers, employees and society overall.” Created in 2010, the Network acts as a facilitator and responds to requests from members to develop tools, share knowledge, and facilitate businessto-business meetings and dialogues around disability issues. It combines the interests of the ILO employer constituents and of multinational enterprises.

Jobs & Career

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Social security policies should be harmonized – Agaka Sylva EmEka-OkErEkE

eneral Manager and Head of Social Security of the Nigeria Social Insurance Trust Fund, NSITF, Mr. Ismail Agaka, has urged the Federal Government to harmonize and coordinate various social security programmes, presently executed in various government ministries, departments and agencies Agaka, who spoke on challenges confronting the implementation of social

security initiatives in the country, explained that though the Federal Ministry of Labour and Productivity is charged with regulating the implementation of social security, it has not been empowered to carry out such functions. According to him, Nigeria does not have a structured social security yet, which need to be urgently addressed. “What Nigeria has are various social security programmes that are simultaneously implemented in at least nine MDAs. Therefore, the lack of synergy is really affecting the implementation

of these programmes. Nigeria does not have a national policy on social security. “The last attempt at having a national social security policy was the Gowon committee report. The committee submitted a report but up till now, several years after, there is no white paper published to enable legislation on the recommendations of the committee report. There is an urgent need for a national social policy,” he further explained. While lauding past efforts at expanding the implementation of social secu-

rity to Nigerians, Agaka stressed that Nigerian has indeed done very well as it currently implements seven out of the nine programmes highlighted by the International Labour Organization’s Convention 102 even though most of them are in the formal sector of the economy. “We therefore have a situation whereby the formal sector employees mostly enjoy social security programmes. Meanwhile, there is ILO declaration that aims at extending social security to all by the year 2020,” he said.

Jigawa plans biometrics devices deployment to curb workers’ lateness

he Governor of Jigawa State, Alhaji Muhammad Badaru, has hinted of plans by his administration to introduce biometric data capturing to checkmate late coming among state workers. According to him, the move was part of efforts to enhance productivity in the state’s public service. The Governor who gave the hint shortly after the swearing in of new state Head of Civil Service, Alh. Muhammad Inuwa Tahir, said that his administration would not condone late-

ness and laziness among state workers. He said that since salaries of workers in Jigawa were being paid as at when due, they don’t have the right to abscond from their places of work. The Governor enjoyed the new head of civil service to introduce new program and policies that will enhance productivity and man power development in the civil service sector, adding that the existing structures established by the previous government should be maintained such as the manpower

development institute where training and seminars for workers is been conducted. In his remarks, the new Head of Service said the service would remain focused and resolute while assuring the state government of his commitment to continue from where his predecessor stopped. He explained that he would work in collaboration with all the permanent secretaries and other stakeholders to ensure effective service delivery in the civil service.

Job seekers queuing for interview

Healthcare workers face Hepatitis C infection risks – Research

People working with computers

ILO holds 13th African regional meeting

he 13th African Regional Meeting will kick off in Addis Ababa, Ethiopia, from November 30 this year The Meeting will bring together ILO’s tripartite constituents– governments, employers and workers along with the political, economic and social actors of the

world of work in Africa to address the imperative of promoting an inclusive and job-rich growth through decent work in Africa. This theme will be taken up in the Report that the ILO DirectorGeneral will present to the Meeting, entitled “Towards inclusive and sustainable develop-

ment in Africa through decent work”. The proposed agenda is to undertake a final review of progress made on the implementation of the “Decent Work Agenda in Africa, 200715” and to discuss and agree on strategic vision for the ILO in the Africa region.

atest researches have confirmed that health care workers faced greater risks of than average hepatitis C infection than their counterparts in other professional callings. The report of a research put together by the lead study author Claudia Westermann of the University Medical Center HamburgEppendorf, indicated that when compared to the general population, health workers had 60 per cent greater risks of being infected by hepatitis C virus while those who worked directly with blood had almost triple the risk. According to the analysis in the report titled “Occupational and Environmental Medicine”, the Hepatitis variant is usually spread when blood from an infected person enters the body of someone who isn’t infected.

The researcher also found that these days, most people infected with the virus got it from sharing needles or equipment to inject drugs just as it can also be transmitted during sex, and until a test for it was developed in the early 1990s, people could acquire the disease through blood transfusions. The research findings stated: “Contact with blood, for example, from needle stick injuries, is associated with a risk of infection and continues to be the major threat to the health of health care workers,” said lead study author Claudia Westermann of the University Medical Center Hamburg-Eppendorf. “Exposure to blood cannot completely be avoided when using safp instruments, as they reduce the risk of needle stick injuries but do

not completely prevent them,” Westermann added. “Therefore blood borne virus infections will remain a threat to health care workers for some time to come”, it added. Westermann and colleagues analyzed data from 44 previously published studies in order to assess the prevalence of hepatitis C among health care workers. According to the researchers, in the U.S. and Europe, where hepatitis C prevalence is relatively low, health care workers are more than twice as likely as other individuals to get the virus. They also reported that the risk for health workers doubled in North Africa, the Middle East and South Asia, although infection rates in Japan were similar to the rest of the population.

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Assessing Buhari’s one million yearly housing units’ feasibility Concerned about the report of the United Nations Development Programme, UNDP, which puts Nigeria’s housing deficit at 17 million, President Muhammadu Buhari during his electioneering campaign promised to build one million new housing units annually. However, industry stakeholders see the target set by the President as a tall order which may not be feasible unless huge fiscal sacrifices are made to fund the capital-intensive sector. SYLVA EMEKA-OKEREKE reports

xperts in the housing sector have argued that it will take Nigeria several years of long planning to actually close the yawning housing gaps. This is as they noted that if the Federal Government really wants to build the one million housing units yearly as promised, houses, it clearly cannot achieve it in the next ten years, as Nigeria may not have enough building experts to realize the promise. Beyond the housing units, the President also promised to create 720,000 jobs in one year with 20,000 jobs per state yearly for people with basic education. Experts also said, the Federal Government may not have adequate clear plans to accomplish these ambitious goals. John Adeyemi, a property expert said, several months had gone in the present administration, without a clear roadmap to meet the target.

before you come up with a programme. It is very clear that the government has no serious intention to pursue this housing programmes that will produce one million housing units a year’, Adeyemi stated. ‘’Just imagine one million new housing units in this country. It will take years just for first level planning and then take more years to actually build the houses. That is, if the government really wants to build the houses

and if it does, the government clearly cannot achieve it in four years. You don’t have to be a building expert to see that this promise is unrealistic’’, he stated. He therefore advised the Federal Government to stop proposing fantastic ideas that will never going to get off the ground, saying this is not what the Nigerian people really want. According to him, what the people really

It would be recalled that the unIted natIons development programme, undp, had revealed that nIgerIa has about 17 mIllIon housIng defIcIts, heIghtenIng speculatIons that the

5,000 housIng unIts annually In the next 12 years to fIll the country needs over

yawnIng gap

‘’If you want to build one housing units within a year, you don’t wait half the time

Property in European exceeds fair valuation –UBS 30

want is a visible improvement in the housing sector as well as other sectors of the nation’s economy. It would be recalled that the United Nations Development Programme, UNDP, had revealed that Nigeria has about 17 million housing deficits, heightening speculations that the country needs over 5,000 housing units annually in the next 12 years to fill the yawning gap. “We are ready to reform the housing sector. We don’t have housing units and the few ones we have are in the hands of few individuals at the top of the echelon in the society. So, we are looking at what government can do in the aspect of the reform, so that private sectors can be empowered as in other countries of the world to provide the housing units”, he stated. As it is, it is likely that the prices of houses will continue to rise, but at a slower pace than we have seen in the outgoing year, with most experts predicting less than 5%, CONTINUED ON PAGE 26

80% Nigerian adults, 19% Ghanaians live in rented apartments –Investigation

Nigeria’s property business to pick up in 2017–Expert 28

Real Estate & Environment

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Stakeholders set housing priorities for incoming minister

CONTINUED FROM 25 though, there might be considerable variations in some states, depending on land mass as well as locations. The United Nations Development Programme (UNDP) had recently revealed that Nigeria has about 17 million housing deficits, heightening speculations that the country needs over 5,000 housing units annually in the next 12 years 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 and unless the federal government is able to deliver on its promise to provide one million new housing units yearly, the situation will get worse. UNDP had during the report urged Nigerian government to adopt a multi-pronged approach to redress the housing shortages, listing those methods to include involvement of central, regional and local governments in housing projects. This collaboration, according to the global agency would involve private sector, nongovernmental agencies, community associations as well as developing a viable mortgage finance sector to assist the private sector. Already, the World Bank had warned that the rising population could hit more than 200 million by the year 2050, which would increase rural and urban drifts as well as the rising building costs, exerting serious pressure for shelter. Federal Ministry of Housing had earlier disclosed that since the establishment of the Federal Housing Authority, FHA, in 1973, it has been able to deliver only 35,309 housing units nationwide with Lagos metropolis having the highest number of the units. Investigation has shown that the number of housing units in Lagos metropolis rose from 393,000 in 1970s to 700,000 in 1992 and grew further to 1.25 million units in 2012. It would be noted that since the second phase of the national policy on housing was announced in 1972, under which about 5 million housing units were said to be delivered by the three tiers of government, less than 200,000 have actually been delivered till date. With the growing population of over 160 million, experts said, Nigeria needs more than 17 million new housing units to withstand the test of time with an estimated costs of over N50 trillion to reverse the trends. Currently, over 80 per cent of Nigerian adults are said to be living in rented apartments, compared to 19 percent in South Africa and 22 percent in Ghana.

Housing estate

Already, there is an urgent need for guest houses in urban area and it has been growing on daily basis. In some Nigerian cities, residential accommodations have disappeared while commercial properties like eateries, banks and telecom offices have taken over the apartments. Also, some of these cities have developed reputations for excessive night life services like clubs and shopping malls, thus making the prices of the property in those areas, to go up as the demands are hitting the rooftop. Just as some stakeholders are seeing the incoming 2015 as a year of contrasting halves, they however noted that there might be actually a huge rise in property prices. They also noted that 2015 will be a year of rapid development of properties, especially estates and blocks of apartments. Plots of land would be bought at the fastest rate, if the Land Use Act is being reviewed by the federal government to give developers easy and comfortable access to develop more housing units in the country. There is also greater need for security and infrastructure to spur more demands for serviced estates and apartments, where people will feel safe with access to water and light. 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. Overall 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. Experts have said, that until the monetary authorities bring down the interest rates to single digits to enable low income earners to obtain affordable mortgage financing, the nation’s mortgage industry will remain at its present dismal level, contributing below one per cent to gross domestic product, compared to 24.7 per cent in Malaysia, 29 per cent in South Africa, and 85 percent in New Zealand, according to the Central Bank of Nigeria, which has laid out plans for a N200 billion intervention fund. Federal governments should as a matter of urgency, invest massively in basic infrastructure like roads, electricity and water, whose inadequacy has increased the cost of building. The state governments should as well, engage private sector to target millions of new housing aimed at developing well-planned new towns. Collaborative efforts between the government, research institutes and private developers are necessary to promote alternative building materials as against the

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

0.5 per cent of all lendinG, compared to 30-40 per cent in other emerGinG economies and 60-80 per cent for only

in developed economies

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

expensive cement-based block style that often accounts for over 40 percent of the total costs. 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. There is no doubt that Nigeria should adopt similar models like the South Africa’s Reconstruction and Development Plan, which delivered 2.3 million housing units in the last 13 years. Also, China’s Affordable Housing Policy delivered 12 million units in five years and similar programmes in Canada, Kenya, Sweden, France and Tanzania, where tax holidays, cooperatives, savings and loans strategies are utilised to make housing available to low and medium income earners. Nigerian government should also encourage Lagos state government to revive its mass housing scheme, initiated by the former governor, Alhaji Lateef Jakande to increase housing units, rather than spending billions to reclaim land and buildings meant largely for the rich while leaving the tax-paying poor masses to their faith. NEWS 80% Nigerian adults, 19% Ghanaians live in rented apartments-Investigation A recent investigation has shown that over 80 per cent of Nigerian adults are said to be living in rented apartments, compared to 19 percent in South Africa and 22 percent in Ghana. Prior to now, the World Bank had warned that the rising population could reach 289 million by 2050, thereby increasing rural and urban drift as well as rising building costs, exerting pressure on shelter. UNDP had noted that many Nigerians live in slum areas, warning that the number might increase over time. According to the investigation, the housing deficit rose from 7 million in 1991 to 12-15 million in 2008 and 17-18 million in 2012, noting that unless the federal government is able to deliver on its recent promise to provide one million new housing units yearly, the situation will get worse. Since the second phase of the national policy on housing was announced in 1972, under which about 5 million housing units were to

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Real Estate & Environment

Tuesday, November 3, 2015

80% Nigerian adults, 19% Ghanaians live in rented apartments –Investigation

MORTGAGE NOTES

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

Mortgage and Real Estate Fraud Prevention: Let charity begins at home A s a Nigerian in the US real estate/finance market, I am in a daily battle to prove my honesty, trustworthiness and capability. Every time, I asked where I am from, it is with great pride that I call myself Nigerian, even knowing that I am immediately viewed with a little more suspicion than the next person. When anyone asks my opinion of “Nigerian fraudsters”, it is with great panache that I ask them about “American Fraud”. I feel no reason at all to be on the defensive about my native and, because I have the privileges of knowing the great things that have come out of my country. In fact, when I am told about people who “will not do business with Nigerians”. I kindly try to educate them as to their loss, because it really is their loss. I am therefore most disgusted when I read headlines like this: Really, people, can we just stop already??? It just seems like we have no shame any more. I remember when one family member’s shame was the whole family’s shame. I remember when no family member wanted to be identified with any relative that was involved in crooked dealings; when men still had some honours. Those days seem to be long gone. Corruption is now so pervasive that it is actually pleasantly surprising to find a scam not involving at least one Nigerian. Our people come to the US, attempt to perpetuate the dumbest scams, end up in jail, get out, return home and are promptly made High Chiefs and Political leaders. While I had to get that little rant out of the way, the yahoo article actually got me thinking. The fact that the perpetuators were prevented from completing the scam underscores one of the major issues I have discussed in my past column pieces. The establishment of a solid data base and a standard quality control system is a huge factor in the reduction of real estate and mortgage fraud. The reason those crooks got caught, was because there was a proper system in place, that threw up red flags and led to a second look at their transaction. It has been proven over and over statistically that the only way to stop

a fraud is to catch it before it is completed. The sheer sophistication and audacity of the crooks, in trying to complete a sale of someone else’s property, from a location outside of the US, highlights the challenge we are up against. The internet has changed the world from seven distinct continents to one large community, at least businesswise. It therefore makes sense that the same internet used to commit these types of crimes should be used in the battle to stop them. The value of a comprehensive database of mortgage transactions, deeds and encumbrances, set up outside of the government, and under the control of the private financial sector, cannot be emphasized enough. The Nigerian economic sector must work on this immediately and get it done asap. This should not be one of the proposals that sit on the table waiting for someone in the government to implement some day. The IDB refinance loan requirements included the setting aside of funds for several programs designed to standardize and protect the market. These programs should be treated by all players as a matter of critical need. Some of the specific databases of priority status in my opinion are: A credit reporting database: At last count by my understanding, there were at least three credit bureaus in Nigeria that already have the infrastructure to implement a remerged credit report system providing identifying information and details of all major credit transactions in the market. All that remains in the will for the industry to make use of them appropriately, and negotiate a fee structure for their reports. It is very simple for every transaction to include a credit reporting fee charged to the Borrower. I have heard different protests on this matter, ranging from the complexity of trying to incorporate fear of the credit company employees themselves using the Borrower’s

information to commit crimes. I consider these to be the usual excuses not to get thing done. Just move it forward and start it with a plan to succeed. I would hope that any company willing to give out loan amounts high enough to be in the trillions of naira, will want to take every possible step to protect their funds. As others start to make use of the system, it will become entrenched. After all, Trans-union, Equifax and Experian all started from scratch. A mortgage deed recording database: The importance of this particular database cannot be underestimated. It is necessary to establish a more user friendly, uncluttered deed recording database that is not encumbered by government red tape. When every deed is recorded and accessible, it becomes much more difficult for Borrowers to game the system, and for corrupt loan personnel to collude with them in doing so. Every transaction file would contain a mandatory deed search report, signed off by a senior loan manager for compliance. The fee for the search may also be charged to the Buyer since the search would potentialxxxxx ly protect them too, from scam sale transactions. It may seem that we continue to criticize the Nigerian real estate market out of ignorance because we are not in the system. For me, it is not criticism but frustration that drives my writing. It is a frustration borne out of the knowledge of the intelligence and talent that abounds amongst my Nigerian colleagues that is being totally overshadowed as a result of the inexplicable inefficiencies in the market. We have so much to bring to the table, and we are some of the

most sought after professionals internationally, but only so long as we don’t say too much about where we come from.

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.

recent investigation has shown that over 80 per cent of Nigerian adults are said to be living in rented apartments, compared to 19 percent in South Africa and 22 percent in Ghana. Prior to now, the World Bank had warned that the rising population could reach 289 million by 2050, thereby increasing rural and urban drift as well as rising building costs, exerting pressure on shelter. UNDP had noted that many Nigerians live in slum areas, warning that the number might increase over time. According to the investigation, the housing deficit rose from 7 million in 1991 to 12-15 million in 2008 and 17-18 million in 2012, noting that unless the federal government is able to deliver on its recent promise to provide one million new housing units yearly, the situation will get worse. Since the second phase of the national policy on housing was announced in 1972, under which about 5 million housing units were to be delivered by the three tiers of government, less than 200,000 have actually been delivered till date. Federal Housing Authority has delivered only 35,309 housing units nationwide since it was established in 1973, according to further investigation. In Lagos metropolitan area for instance, the number of housing units rose from 393,000 in late 1970s to 700,000

by 1992 and 1.25 million units in 2012. For a population estimated at over 160 million, the housing shortage of about 17 million new units is needed immediately, according to some experts. The situation is the same across the country and evident in the Federal Capital Territory, where corruption-driven deviation from the city’s master plan by successive administrations, has created a network of slums in the area and in parts of neighbouring states. ‘’Our governments should immediately commence corrective measures to remove Nigeria from its ranking by the United Nations Population Commission as having one of the highest slum proliferation rates in Africa’’, an expert noted. Government should revive its reforms of the mortgage sector to reverse a situation where over 70 per cent of all housing here is undertaken by the private individuals and informal sector and where mortgage loans and advances account for only 0.5 per cent of all lending compared to 3040 per cent in other emerging economies, and 60-80 per cent in developed economies. Experts say similar models of South Africa’s Reconstruction and Development Plan that delivered 2.3 million housing units in the last 13 years should be adopted.

Emerging markets to boost housing sector by 2020

eal estate is an integral part of the emerging markets’ growth phenom-

enon.

In Africa, it is playing a large part in driving economy growth. As growth moderates in many emerging markets, the pace of construction activity remains rapid, increasing investment opportunities but growth is only part of the story. The rise of emerging economies is also increasing competition among real estate managers and the investment community. Reports show that by 2025, over 60 percent of all construction activity will take place in emerging markets and between now and 2025; there will be a large increase in the construction of new homes. Nigeria will need almost 20 million

new homes compared to 2012. The growth of emerging countries is rapidly creating powerful new real estate players and new asset managers. As a result, there is growing competition for real estate assets and real estate asset management. By 2020, it’s likely that some of these managers have become major global players. Real estate developers like Diya Fatimilehin & Co. Jide Taiwo & Co., Fine & Country amongst others are taking their place and gaining international recognition. Suburbs in Nigeria are now getting a higher rate of construction. Looking out to 2020, it’s likely that intra-regional real estate investment might follow existing high-growth trade routes and further increasing cross-border capital flows.

Real Estate & Environment

Tuesday, November 3, 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

Desertification threatens survival of 20m peop Olufemi AdeOsun, AbujA

he United Nations Convention on Combat Desertification (UNCCD) has painted a grim picture of the devastating effects of desertification on the people living in the Sahel region, saying that over two million of them were consigned to a life of penury. This estimate was given by the Executive Secretary of UNCCD, Monique Barbut, who was also the special guest of honour during the Great Green Wall side event organised by the African Union Commission (AUC), UNCCD and FAO as part of the recently concluded session of the Conference of Parties to the United Nations Convention to combat Desertification (UNCCD COP12) in Ankara, Turkey. The Executive Secretary, according to a statement from the National Agency for the GGW, also noted the strategic importance of the GGW. She offered a personal commitment toward ensuring the successful implementation of the afforestation programme, adding that her heart had always been on it. Barbut described the Great Green Wall as the modern World’s greatest endeavour that symbolized man and nature coming together to overcome some of today’s most urgent challenges such as climate change, food security, Migration, and of course land restoration According to her GGW is more than simply growing trees, but growing those that are climate change resilience, provide green jobs that guarantee a suitable income for African women and youth, food security among others. She gave the assurance of the commitment of UNCCD to

embark on scaling up the GGW initiative through partnership with the African Union Commission (AUC) and other stakeholders involved in the cause of curbing the menace of desertification. Dr. Elvis Paul, AU GGW Coordinator during a presentation at the event, pointed out that GGW had become a global platform for combating land degradation and desertification. He reiterated the general call for a similar initiative

in other regions of Africa and taking best practices to the Caribbean and Pacific regions. He said the GGW would also play a central role in promoting Global Land Degradation Neutrality (LDN) and Sustainable Development Goals (SDGs). During the panel questions and answers involving key players of GGW, Goni

Ahmed the Direct Agency for the Gre GW) who led the Nig rated the achievem had recorded in Nig ment in 2013, includ of the NAGGW as a work to coordinate t the programme.

Banks tighten standards on real estate l

oreign banks, including Nigeria have tightened lending standards for commercial real estate loans, just as Bangko Sentral Pilipinas, BSP, introduced stricter rules on bank’s real estate exposure. Senior Bank Loan Officers’ Survey showed a net tightening of overall credit standards for commercial real estate loans for the 12th consecutive quarter. “The net tightening of overall credit standards for commercial real estate loans was attributed by respondent banks to perceived stricter oversight of banks’ real estate exposure along with banks’ re-

duced tolerance for risk,” the BSP said. The central bank said banks reported stricter collateral requirements and loan covenants along with wider loan margins, shorter loan maturities, and increased use of interest rate floors for commercial real estate loans. For the next quarter, the BSP survey showed most of the respondent banks expects to maintain their credit standards for commercial real estate loans. The survey also revealed the demand for commercial real estate loans was also unchanged in the second quarter based on the modal approach. “A number of banks, however, indicated increased demand for the said type of loan on the back of clients’ im-

proved economic outlook and banks’ more attractive financing terms,” the central bank added. Over the next quarter, a number of banks expect demand for commercial real estate loans to continue increasing in the following quarter. Similarly, credit standards for housing loans extended to households showed net tightening in the second quarter due to perceived stricter financial system regulations along with banks’ reduced tolerance for risk and deterioration in the profile of borrowers. Data showed banks’ exposure to real estate increased 23 percent to P1.27 trillion in the first quar-

ter of the y in the same estate loans the bulk of to the secto P1.09 trillio In June troduced st

real estat sure lend capital to tial losses

The cent measure s prudential have suffic any potent exposures.

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, November 3, 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.

ple in Sahel –UN

tor General, National eat Green Wall (NAGgerian delegation, narments the programme geria since commenceding the establishment an Institutional Framethe implementation of

loans

year from P1.03 trillion me period last year. Real ns, which accounted for of the banks’ exposure or, jumped 26 percent to on from P866.62 billion. e last year, the BSP intricter rules on banks’

ate exposure to enders have enough o absorb any potens.

ntral bank said the new simply reinforces the policy that banks must cient capital to absorb tial shock on its credit

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.

Tower Property sees 38% jump in revenue T ower Property’s revenue increased by 38 per cent and its operating profit grew by 37 per cent. The South African property investment fund saw revenue increase to 117 million rand in 2014 from 85 million rand for the five months ended 30 November 2013. “Tower performed well in the six months ended 30 November 2014 in an increasingly difficult trading environment,” it said. “The investment strategy is to expand the portfolio by targeting well located, mainly medium-sized properties with strong cash flows and to ensure a diversified sectoral and geographic portfolio.” Tower Property added that its longer term objective is for the portfolio to comprise approximately 50 per cent in retail space, followed by office at 30 per cent and industrial at 20 per cent. “During the period two properties totalling 122 million rand were acquired. Active asset management of the portfolio has continued to reduce operating costs,” the company said. “Greening initiatives undertaken include lighting retrofits at Cape Quarter and the De Ville Shopping Centre, and a large solar installation at Cape Quarter which is predicted to yield a 17 per cent return.”

According to the company, this solar project will ensure that most of the roof space is being utilised to generate energy. “This is a strategically important programme given the country’s electricity supply constraints and the expected tariff increases from Eskom,” Tower Property said. “Savings at Cape Quarter have exceeded predictions with 850,000 rand being saved per annum as a result of lighting changes. The electricity demand of the property has been reduced by 13 per cent.” The property fund saw its net property income for the 2014 period increase to 103 million rand from 75 million rand for the previous corresponding period, and a profit before taxation of 98 million rand from a loss of 31 million rand. Its operating profit grew by 37 per cent and its basic and diluted earnings per share, of the weighted average shares in issue, increased to 69 cents in 2014.

“Management continues to focus on the acquisition of strategic properties to ensure the sustainability of the fund and to enhance returns for investors,” said Tower Property 0.00%.

Real Estate & Environment

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Property in European exceeds fair valuation –UBS J ust eight years after the sub-prime mortgage crisis, banks are warning about the risks from booming real estate markets across the world. On Thursday, UBS said that property in all European cities now exceeds fair valuation, with London the most overvalued market on the continent and the city most at risk in the world for another housing bubble. “The UBS Global Real Estate Bubble Index, as well as the cross-sectional benchmarks, point to the risk of a substantial price correction should the

fundamentals for real estate investment deteriorate,” the bank warned in its global property report. London house prices, in real terms, are 6 percent above their previous peak in 2007, with real estate in the capital decoupling both from the rest of the U.K. and local household earnings, according to UBS. The city is the world’s least affordable, bar Hong Kong, which UBS ranks as the second-most likely city to have a property bubble. “Foreign demand (for London properties) and demand deriving from safe-haven seek-

ers largely explain current valuations. Global geopolitical risk and the high property valuations in Asian cities have helped to propel London house prices to new heights,” UBS said. “Domestic buyers too have contributed to the appreciation,” the bank added, highlighting the alluring yields on buy-to-let investments and ongoing population growth. While the expense of London housing is well-known, Europeans may be surprised to learn that Amsterdam is rated the second-most susceptible city on the continent to a hous-

ing bubble. The German financial center of Frankfurt was also described as “on a rising trajectory in overvalued territory,” with Geneva, Zurich and Paris additionally highlighted as overvalued. After London and Hong Kong, Sydney was singled out by UBS as the world’s most overvalued city — a feature that has also been highlighted by RBS. Alberto Gallo, head of European macro credit research at RBS, warned in a research note on Wednesday that Australian banks could be at risk from a house price correction, statstill contemplating further stimulus measures. “Beyond the chatter about how impossibly expensive the likes of London and New York have become, the topic draws far less attention than it merits

ing that mortgages accounted for over 60 percent of their loan portfolio (almost double the share in the U.S. and threetimes the share in the U.K.) Low interest rates have encouraged borrowing in Australia, with the debt-to-income ratios of households rising above those in the U.S. and the U.K. and house prices in Sydney overtaking London, according to Gallo. Earlier this month, Deutsche Bank also warned of a boom in global property prices, driven by loose monetary policy across the world, with policymakers in Japan and Europe from policymakers and investors alike. That is unwise. Both economic theory and empirical evidence tell us that property prices are exactly where we should look for exuberance,” said Deutsche Bank in a report.

Mortgage volume down by 28%

ortgage applications plummeted 27.6 percent on a seasonally adjusted basis for the week that ended Friday from the previous week, the Mortgage Bankers Association said Wednesday.

L-R: Former Minister of Industry, Chief (Mrs). Nike Akande; Ogun State Deputy Governor, Chief (Mrs.) Yetunde Onanuga; Chairman, Coleman Wires and Cables, Asiwaju Solomon Onafowokan and Ogun State Governor Ibikunle Amosun, at the official commissioning of Coleman Wires and Cables, Arepo Factory II, yesterday.

4% of SA’s households earn 32% total income

ore than ten per cent of South Africans live in extreme poverty under 1.25 US dollars (R15.90*) per day; this is according to Oxfam’s recent report. The report titled: Is South Africa operating in a safe and just space; also claims that over half of South Africans live below the poverty datum line. Katherine Trebeck, policy and research adviser at Oxfam told CNBC Africa that Africa’s second largest economy was not operating in a safe and just space adding, the country’s social foundation was dire. The report looks at about 20 different dimensions of social justice attainment and environment stress that the South African economy is putting on the global and local environment. “At a headline level, South Africa is transgressing four domains that we look at when we describe

a safe place and in several others except two, the country is in a grave state of breaking that environmental ceiling,” Trebeck said. “Poverty is not just income; it includes housing, quality of water and access to energy,” she added. However, the report said this gloom picture could be addressed through the creation of a million jobs in the green jobs space. “South Africa could create an estimated 816,000 ‘green’ jobs by 2025 across the areas of natural resource management, energy generation, energy efficiency and pollution management,” read Oxfam report. The report also exposed the gross inequalities that continue to persist in the country. “South Africa is one of the most unequal countries in

the world: the wealthiest four per cent of households receive 32 per cent of total income, while 66 percent of households receive only 21 percent of all income,” read the report. Oxfam says the economic development model in South Africa needs to be re-examined in order to build an economy which fits within the ‘safe and just space’. The country’s National Development Plan aims to create six million jobs by 2020 and 11 million by 2030, resulting in ‘near full employment’. “Poor-quality education for the majority and slow economic growth that has produced few jobs has both contributed to very high rates of unemployment and youth unemployment.”

The drop comes as no surprise, given the 25.5 percent jump the week before, just ahead of the implementation of new mortgage disclosure rules (which go by the acronym TRID). Lenders had to make major changes to their loan processing systems, and the fear was that this would slow applications; borrowers, therefore, rushed to get applications in before the rules went into effect on Oct. 3. “The prior week’s results evidently pulled forward much of the volume that would have more naturally taken place into this week,” said Michael Fratantoni, the association’s chief economist. “Purchase volume for the week was below last year’s pace, the first year-overyear decrease since February 2015, while refinance volume dropped sharply even with little change in mortgage rates.” Applications to refinance fell 23 percent last week, seasonally adjusted, and applications to purchase a home fell a sharp 34 percent. Purchase volume is now 1 percent below the same week one year ago. “Purchase loans are likely to be more impacted by the regulatory change, as the closing dates tend to be more sensitive than those for refinance transactions,” Fratantoni said. The average contract interest rate for 30-year fixed-rate mort-

gages with conforming loan balances ($417,000 or less) remained unchanged at 3.99 percent, with points increasing to 0.53 from 0.46 (including the origination fee) for 80 percent loan-to-value ratio loans. “Whether we look at TRID implementation likely boosting purchase applications or the impressive mortgage rate rally obviously juicing refinance demand, we have abrupt reversals in both of those things this past week. In other words, rates erased the gains and the TRID deadline has passed. Back to reality,” said Matthew Graham, chief operating officer of Mortgage News Daily. While the weekly drop was expected, the weakness in purchase applications from a year ago is yet another indicator of a slowdown in home buying. Both real estate agents and homebuilders reported weaker buyer traffic in September, according to monthly surveys by Credit Suisse. “Agents blamed the slower conditions on a limited supply of desirable inventory compounded by sellers’ preference to price aggressively. At the same time,

many spoke to diminishing urgency, as buyers express resistance to current price levels,” Credit Suisse analysts Michael Dahl and Matthew Bouley wrote in a report.

Tuesday, November 3, 2015

Aviation

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Despite huge investments, filthiness pales Nigeria’s airports’ ratings Despite vehemently rebutting the recent survey that placed Port Harcourt International Airport, PHIA, as the worst in the world and Lagos and Abuja airports among the worst in the continent, the Federal Government’s position has been flawed by stakeholders in the aviation sector who insist the findings of the report may not be far from the truth after all. OLUSEGUN KOIKI writes.

any Nigerians may have been shocked by the recent report published by CNNMoney and released by The Guide to Sleeping in Airports, which placed Port Harcourt International Airport, PHIA, as the “worst” in the world for the year 2015, but not airports professionals, stakeholders and users who regularly experience the filth in the nation’s airports. The survey, which had qualifying responses from 26,297 well-travelled respondents, said the airport is riddled with unpleasant and unhelpful staff, corruption, a severe lack of seating, broken air-conditioning and the fact that the arrivals hall is located inside a tent. The survey also placed Murtala Muhammed Airport, MMA, Lagos and Nnamdi Azikiwe Airport, NAA, Abuja as among the worst in the continent, despite the usage of the entire sum of the Bilateral Air Service Agreement, BASA, in 2012 put at $74 million by the former Minister of Aviation, Princess Stella Oduah in the first phase of the 11 airports remodelling exercise and the collections of hundreds millions of naira monthly from the aviation agencies for the same project. The remodelling exercise had started in the first quarter of 2012 and continued in most airports across the country till date. However, former Supervising Minister of Aviation, Dr. Samuel Ortom, revealed few months after his appointment that Oduah left behind a massive debt of N174 billion for the industry between 2011 when she was appointed and February 2014 when she was disengaged by former President Goodluck Jonathan as a minister in the sector. But, in a swift reaction, Oduah debunked the debts claim, saying that rather than the debts being liabilities to the sector, the industry would from 2016 be benefiting from the several projects commenced by her under the aviation master plan. Speaking through her Special Assistant, Dr. Daniel Tarka, Oduah said that the agenda for the transformation of the aviation sector, which warranted the conceptualisation of the master plan was for the industry to be fully self-sustaining by 2016 and would begin to yield additional revenues for government through improved Internally Generated Revenue, IGR. She explained that in order to achieve the set goal, the ministry embarked on the upgrade and rehabilitation of the 22 federally-owned airports across the country under the airport remodelling programme. Besides, expectedly, the Ministry of Aviation through its Permanent Secretary, Hajia Binta Bello also disagreed with the

Port Harcourt International Airport

The problem of fAAN is NoT fuNds or resources, The problem of fAAN is

mANAgemeNT ANd ThAT AgeNcy preseNTly, everyoNe ThAT comes iN sees iT As A cAsh cow survey. Bello in an interview with journalists in Lagos attributed the ongoing works in and around some of the airports as some of the reasons for the airports environments not conducive for travellers. She said, “It is up to the leaders to agree or to disagree on the rating. When I saw the rating, the question I asked is that: do we still have touts at the airports? Are our airports dirty? Are we corrupt? Do we agree with all those questions? “It is something that I cannot categorically say yes we are corrupt, our airports are not clean, our airports are congested, and so on. I am sure you can actually say if these airports are actually dirty, if this airports are full of touts, if these airports are chaotic, this morning I flew in from Abuja airport about five airlines were boarding at the same time I did not see any chaos there, it was a smooth operation, passengers were going into their various aircraft of the various airlines operators and the whole operations was very smooth so I cannot accept that the airports are dirty. “I cannot accept that the airports are congested, if we have a temporary challenge, it is because of the constructions that are going on at our airports. In Abuja for instance, we have work going on there and when all these are done, all will be in proper shape.”

But, stakeholders differed with Bello on the rating. The Director, Research, Zenith Travels, Mr. Olumide Ohunayo said that the remodelling of the airports was not enough to give comfort to passengers and other users. He maintained that most of the country’s airports lacked good ambience for users, stressing that for the nation’s airports to improve on their ratings and services, the government needed to carry out overall management of terminals in the country. He opined that a reputable airport management organsiation should be consulted to manage the nation’s terminals for the next 10 years, manage and prepare the Federal Airports Authority of Nigeria FAAN, for either government management or Public Private Partnership, PPP. He however explained that the Port Harcourt Airport was in a state of disrepute and starved of funds as a result of the posture of the former governor of the state, Mr. Rotimi Amaechi towards the past government, but declared that Lagos and Abuja airports that were not starved of funds also performed woefully in the survey. He said, “One thing I want to thank God for is that we are a Category One country, which means we met the minimum safety and security standards. Again, if you look at the report, it’s not talking about the

safety around the airport; it is talking about ambience at the airport, which Port Harcourt is truly lacking. The airport was starved of funds by the past government. “But again, Lagos and Abuja and others were not starved of funds, but it shows the perennial poor rating of our airports and the so called remodelling of our terminals. Remodelling of our terminals is not enough to give comfort to passengers. What we need is an overall management of our terminals. “The problem of FAAN is not funds or resources, the problem of FAAN is management and that agency presently, everyone that comes in sees it as a cash cow. Everyone they send there are those they feel can deliver politically, materially and financially and not those that would deliver the airports.” Also, the Secretary-General of Nigerian Aviation Professionals Association, NAPA, Comrade Abdulrazaq Saidu, attributed the poor state of the nation’s airports to bureaucracy, corruption and appointment of wrong persons to critical positions in the industry. Saidu called on President Muhammadu Buhari to beam his searchlight on activities in the sector for better improvement. He insisted that the survey was right about the country’s airports, adding that FAAN lacked competent engineers that could take the industry to the next level. He also cast aspersion on the remodelling exercise in the sector in the past years, maintaining that it was an avenue by some people in the sector to siphon money. He further condemned the quality of jobs done by the contractors at the various airports, stressing that most of the jobs had been abandoned by the contractors due to several reasons. “In some cases, the jobs are abandoned and today, they would be complaining of paucity of funds. In the next moment, they would say the project is being sponsored by the Chinese Government, which one do you believe? That’s why the government needs to look into what is happening in the sector. “It is a shame that there is no airport that is certified safe by the Nigerian Civil Aviation Authority, NCAA. This is unfortunate when you consider the amount of funds that have been injected into the system over the past years. If they investigate the type of contracts issued in most of the airports and the money paid, you will see that there were lots of diversions of funds by some people. Some money was given out, but the jobs were not done.”

Aviation

Tuesday, November 3, 2015

Why aviation sector’s potential remains utilized – Capt. Mshelia StorieS: oluSegun KoiKi

he Chief Executive Officer, Mishaviaiton Flying School, Capt. Ibrahim Mshelia has revealed why the nation’s aviation potential are yet to be fully utilised or beneficial to professionals in the sector despite its large market. Speaking with our correspondent in Lagos, Mshelia attributed dishonesty, ethnic biasness and ineptitude of some management staff as some of the reasons why the industry was yet to attain its goals in spite of efforts put in place to grow the sector over the years by the Federal Government. He added that successive governments had not been able to effectively check the incessant corruption within the service provider government agencies nor the airlines been able to appoint honest leaders, stressing that workers themselves had failed live up to expectations. He noted that these lapses had led to the gain of foreign carriers at the expense of local operators who he said were struggling to earn revenues. He added, “One wonders why major European, American and other carriers in middle east

The former Director-General, Nigerian Civil Aviation Authority, NCAA, Dr. Harold Demuren being presented with ‘Higher 100 Years of Boeing’ historic catalogue by the President of Boeing International Bertrand-Marc Allen in Lagos recently.

and Africa are making daily flights, with some doing even two frequencies daily, Nigerian Aviation, on the domestic front is only, but struggling with no hope in sight for reciprocity. “The avoidable challenges are too many for the operators and would be operators to grow or sustain their business favourably due to the above-mentioned factors. All these problems lead to low employment for the locals and in effect reduced clientele for the training institutions such as Mish Aviation.” He decried that 2014 was generally tough for the industry, which he attributed to the poor global economy, but noted that the sector picked up marginally in 2015 in Nigeria af-

he Permanent Secretary, Ministry of Aviation, Hajia Binta Bello, has said that all ongoing projects in the aviation sector would be completed by the first quarter of 2016. This is even as she pointed out that for operators and stakeholders in the country’s aviation industry to achieve a win-win situation, there should be compromise and cooperation among all participants and urged them to eschew ego and unhealthy competition. Speaking in Lagos with aviation correspondents, Bello declared that all the projects would be commissioned by next year and assured that the government would not relent in bestowing to the country effective

Hajia Binta Bello

Airside shegzzy4live2000@yahoo.co.uk 08186007273

Still on 2nd Runway project for Abuja Airport

ter the general elections in the country. “More enquiries have come in and things have changed slightly towards the positive. We are not there yet, but the hope is great and we are expecting a better yield.” He joined others to call for involvement of more women in aviation practices, stressing that generally in the country, the female folks had not shown much interest in the sector. Talking on the Mishaviation Flying School, Mshelia said that at the moment, the school had two Cessna 172 aircraft operational with a plan to acquire additional two aircraft when its students’ intake increases. “Once we expand capacity, we re-fleet to meet demand. This is not a problem at all. We are not commercial airline carrying passengers. So, we do not justify our performance by lining up more planes.

FG to complete airport projects within six months

National Mirror www.nationalmirroronline.net

and secured aviation environment. She stressed that government would continue to upgrade the facilities at the nation’s airports to ensure security, safety and comfort of all airport users. It would be recalled that the government had in first quarter of 2013 commenced the construction of the new terminals in conjunction with Chinese companies. The terminals were slated to be completed within two years, but the paucity of funds stalled the project, which has reached about 40 per cent completion at the Lagos Airport. The government had said then that the construction of the new terminals would pave way for the aerotropolis concept designed to turn around the fortunes of the nation’s airports. She noted further that in order to build a symbiotic relationship among all participants in the sector, the government had been holding regular stakeholder meetings and forums to carry everybody along in policy decisions by the regulators. She hinted that these were intended to ensure that diverse interests were aggregated and equitably catered for. She added, “As you are all aware, the Ministry was recently directed by Mr. President to immediately

kick-start the process of re-establishing a national carrier for the nation. Rather than sit in our offices at the Ministry to take decisions on the model of a national carrier the nation should operate, a Ministerial Committee made up of diverse professional from both the public and private sectors was set up to advice the government. “The committee recently submitted its report and the Ministry is waiting for direction on government on the matter.”

he plan to construct a second runway for the Nnamdi Azikiwe International Airport, NAIA, Abuja by the Federal Airports Authority of Nigeria, FAAN, will continue to receive attention from the public because of the whopping amount of money allegedly involved in the project. The Senate just like every interested party in the plan last week called on the Federal Government to urgently construct a second runway for the airport, saying that the existing one is not only depreciating, but inadequate for the traffic at the airport. But, the lawmakers described the N64 billion contract sums for the runway as “unrealistic,” and “another attempt to steal and rape Nigerians of our common patrimony.” Therefore, urged the Federal Government to apply prudence in the construction of the new runway.

The Senate just like Airside last week expressed worry that the proposed cost of constructing a runway for the airport was by far more than the cost of constructing an entirely new airport within the country. Senate in its report said noted that the entire Gombe Airport with 3.6 kilometres runway cost N8.2bn, Jigawa Airport cost a total of N11bn, Bauchi (Airport) cost N12bn, Enugu Airport was reconstructed and expanded at N13bn, Akwa Ibom (Airport) was constructed at N18.05bn and wondered why only runway would cost N64bn. Information at the disposal of Airside indicates that FAAN is yet to mention any figure in its statements, but insists that the sum being quoted in the media is outrageous and condemnable. Right thing can still be done without wasting public funds.

Enugu Airport, re-modelled at what cost?

nugu International Airport was among the 11 airports in the first phase remodelled by the Federal Government in 2013 and this singular effort received encomiums from most stakeholders and professionals in the sector while some expressed skepticism. However, as laudable as the exercise was, the airport just like the other airports apart from the General Aviation Terminal, GAT, of the Murtala Mohammed Airport, MMA, Lagos that its construction cost was known and made public, the government was silent at the amount of money expended on the project. The government had disclosed at an elaborate event in Lagos that it spent just N648 million to reconstruct and up-

grade the facilities at GAT. This transparency by the government received commendations from the public, but, that was where the transparency ended. But, feelers received recently by Airside indicated that government might have expended some billions of naira in the upgrade of the facilities at the airport. Also, the contract for the upgrade Airside learnt was awarded to the company of one of the strong men in the Nigerian Senate today. Why Airside is not kicking against the award of the contract to a strong man in the Senate, it is however worried that what is on ground doesn’t justify the billions of naira allegedly spent on the airport, hope someone will start to check the books of the sector very soon?

seats in Premium Economy and Economy, stressing that clients could also discover this new way to travel before they board on its website. With the introduction of additional five routes, Air France said the airline would now have a total of 30 aircraft, Boeing 777-200 serving some 28 destinations worldwide at the end of the winter season, which is March next year. In June 2014, Air France unveiled its first Boeing 777 equipped with the new long-haul travel cabins and a year later, the said it is already reaping the benefits of its efforts with significant progress in terms of customer satisfaction.

The statement recalled that in June this year, it received two awards from Skytrax: ‘World’s Most Improved Airline’ and, for the second consecutive year, ‘Best First Class Airline Lounge Dining.’ “These awards were presented to the company at the World Airline Awards, an opportunity for Skytrax to issue a ranking, which is a reference in the field of air transport. “Both awards received by Air France are the result of a satisfaction survey, carried out online with close to 19 million customers,” the statement added.

Air France plies five new routes with long-haul cabins

ir France said it had increased the number of the destinations served by its new long-haul cabins by additional five routes on departure from Paris-Charles de Gaulle. The five new routes according to the statement by the airline in Lagos, Nigeria are Buenos Aires, Montevideo, Boston, Bangalore and Osaka, adding that these exceptional cabins are available on certain flights operated by Boeing 777-200. The statement said that on board, customers can enjoy a real cocoon in the sky in Business class, and completely redesigned

Tuesday, November 3, 2015

Insurance

National Mirror www.nationalmirroronline.net

Operators, experts harp on ICT tools’ roles in insurance penetration Isaac asabor

ne of the major challenges which the insurance industry has been facing is that of finding a reliable and effective distribution channel that can be used to deepen insurance penetration in the country. However, both insurance and ICT experts have agreed, as implied in several comments made by them at various fora in the past that the challenge posed by ineffective distribution channels in the insurance industry would soon be a thing of the past. Speaking on the increasing roles of ICT to insurance products and services delivery and what companies in the country are doing to explore the immense value-adding benefits of ICT tools in the industry, an ICT expert and an insurance employee, Engr. Maxwell Obayuwana, predicted that with the increasing investments by operators on key technologies and solutions, the challenges of insurance penetration will soon be overcome by operators. According to him, many insurance companies in the country are fast adopting the use of ICT applications as distribution channels for the promotion and sales of their products and services, adding that with the positive development in the insurance sector the prospects of faster products and services delivery remain brighter in the near future. He said: “The issue of distribution channel in the industry would soon be over as the application of ICT technologies and solutions has remained a very good innovation for the transaction of underwriting business.” Obayuwana pointed out that on account of the effectiveness and successes that were recorded in the application of ICT tools in other sectors of the economy, particularly in the banking sector, that the application of same tools in the insurance industry for the purposes of deepening insurance penetration cannot but yield positive results. He pointed out that virtually all the insurance companies in the country have adopted or are beginning to adopt the innovative technique of selling insurance products through telecommunication platforms, e-commerce websites and on their individual company website. Obayuwana, also expressed his views from another dimension by saying that “there is the need to explore and develop the innovations of ICT platforms as distribution channels for

Buhari

Commissiioner for Insurance. Mohammed Kari

The issue of disTribuTion channel in The indusTry would soon be over as The applicaTion of

icT Technologies and

soluTions has remained a very good innovaTion for The TransacTion of underwriTing business growing the insurance sector in order to deepen insurance penetration.” His advice is hinged on the fact that other distribution channels, such as agency networking and financial institutions channels such as bancassure, have exhaustively been explored and developed to the present unsatisfactory developmental stage of distribution channels in the insurance industry where their individual or collective Strengths, Weaknesses, Opportunities and Threats (SWOT) can be said to have been identified by researchers and marketing strategists. distribution channels can be used to complement it. Another analyst, Mr. Harrison Adegbe, said that most insurance companies in the country had adopted ICT as a distribution channel while others are also determined to invest in and deploy relevant technologies and solutions in order to be competitive in the rapidly evolving industry. He however believes that there is need for insurance companies to adopt the use of ICT applications, either on telecommunication or internet platform, in prospecting for customers

and sustaining their loyalty as it is obvious that other channels of distribution in the industry have for ages been tested. Investigations by National Mirror correspondent on the level of ITC deployment in the industry showed that various insurance companies in the country were tapping into the opportunities offered by ICT technology for the distribution of their products and services. The founding Managing Director, Chams Plc, Sir Demola Aladekomo, at the 2015 Insurance Industry Mega Conference, listed ways by which insurance companies can effectively utilize Information Technology (IT) to promote their products and services in the Nigerian market considering the massive adoption of technology tools by Nigerians in recent years. The ICT expert, who was represented at the forum by the Managing Director of Chams Access Limited, Funke Alomo-Oluwa, in a paper entitled “Information Technology as a Strategy for Market Penetration and Expansion” noted that ICT tools remained crucial to all sectors of the economy, the insurance industry being a major part of it.

“There is a need for insurance companies and her professional bodies to leverage this platform by partnering with relevant companies and agencies in the technology sector to create and provide specialized services which would help update their internal and external operations”, Aladekomo said. Also in May 2015, Signal Alliance and Microsoft collaborated with Insurance companies in Nigeria to promote the adoption of cloud technology and IT-driven insurance solutions for the robust development of the sector. The parties, with the endorsement of Nigerian Insurance Association (NIA), agreed to develop technology solutions that will enhance the practice of Insurance business in Nigeria. The ICT initiative which was unveiled by the concerned organizations mentioned above was organized as a workshop that had key players in the insurance industry including; Abimbola Ajayi of NEM Insurance, Romanus Ezengwu of IEI, Tonye Sigha of FBN Insurance, Oyewole Maku of Cornerstone Insurance, etc.in attendance. At the event, Mr. Anthony Nwankwo, who represented Signal Alliance gave an insight into what the insurance industry stands to gain by adopting Cloud Technology when he said “Our vast knowledge in deploying technology in the Nigeria financial services sector and global experience of our partner Microsoft have been made available to enable this sector operate more efficiently thereby giving workers and customers a whole new experience.” In his remarks, Audu Dunni Oladokun, NIA Chairman, Education Sub-Committee said that knowledge shared at the roundtable showed how trending technologies can transform insurance businesses in the country. Participants at the forum agreed that there was need to automate the process of design and approval by incorporating secured digital signatures in a holistic manner that will ensure speed, convenience and mobile access to insurance companies in the country. The Imperative of ICT Technology as a distribution channel was also harped on in August last year when an insurance cover conceptualized by Airtel and two insurance providers, MicroEnsure and Cornerstone Insurance Plc recorded the subscription of 130,000 customers within two weeks.

Insurance

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Law Union & Rock Insurance posts N664m PBT in Q3 Isaac asabor

aw Union & Rock Insurance Plc has released its third quarter 2015 unaudited financial statements. The report showed that the company’s profit before tax rose by 215 per cent to N664.1m as at the end of September 2015 from N210.4m in 2014 while it recorded a profit after tax of N564.5m compared to N178.8m achieved in 2014. A statement by the Head, Research Strategy & Corporate Communications, Mr. Idongesit Mbat, during the quarter under review indicated that the company achieved an increase of 11.5 per cent in its Gross Premium In-

come (GPI). The release stated that its GPI stood at N2.63 Billion in 2014, the figure rose to N2.93 billion by September 31, 2015. There was a 58.7 per cent increase in underwriting profit to N1.08 billion from N686.3 million in the corresponding period in 2014. Investment income rose 22.6 per cent to N303.8m from N247.7m in 2014 while the total assets of the company also went up by 11.36 per cent to N9.1 billion from N8.2 billion in 2014. The company said it has carried out a “critical review of the overall corporate performance and is repositioning to drive positive and very significant growth in coming years through a

well thought out 5-year Strategic Plan”. This is to guide its resolve to “greatly improve on our all-round corporate performance and take a significant share of the market”. Similarly, it noted that “our strategic direction to grow the business is anchored on developing the direct/retail market segment, improving relationship with existing intermediaries, developing alternative distribution channels and improving our brand value”. The Managing Director of the company Mr. Jide Orimolade, said the Board and management were quite confident that all the initiatives will turnaround the fortunes of the company within the shortest possible time.

Orimolade

AIG mulls breaking off mortgage-insurance business

merican International Group Inc. directors are discussing a spinoff or sale of AIG’s small mortgage-insurance business as the conglomerate faces new shareholder pressure to break apart, people familiar with the situation said. The discussions have been under way for a while, and no final decision has been made about the unit, which sells coverage that protects mortgage investors and lenders against losses, the people said. An AIG spokesman declined to comment. AIG’s mortgage-insurance operation is considerably smaller than AIG’s other businesses, representing roughly 5% of pretax operating profit during the second quarter. But it posted the largest increase in pretax income during the

first six months of 2015. AIG is one of the world’s largest insurance companies, with a market value of roughly $82 billion. The separation of AIG’s mortgage insurer would fall short of calls from shareholders Carl Icahn and John Paulson to break AIG into three pieces--mortgages, life and property-casualty. The two billionaires have urged the company to consider the three-way split as a way to boost the company’s stock and escape regulations imposed by federal policy makers. AIG had to be rescued during the 2008 financial crisis in one of the biggest bailouts by the U.S. government. It finished paying taxpayers in late 2012 and has been struggling since to boost critical measures of profitability as it battles

pricing pressures. Through June 30, AIG’s return on equity for the year stood at 8%, well below its rivals. Mr. Icahn conveyed his demand in a public letter this week to AIG Chief Executive Peter Hancock, while Mr. Paulson advocated a similar breakup in conversations this year with senior management that executives then passed on to board members, said people familiar with the situation. Mr. Paulson himself first approached Mr. Hancock with his ideas in March, shortly before General Electric Co. CEO Jeffrey Immelt decided to unwind GE Capital because of stricter oversight that the company said crimped its banking business’s profitability, said people familiar with the matter. A partner with Mr.

Ghana insurers push for workers’ compulsory life insurance

nsurers are calling for regulations that would make employers take compulsory life insurance cover for their employees to guarantee the financial security of workers against uncertainties that might suddenly befall them. The insurance industry said life insurance cover for employees would provide compensation for them in death in the line of duty or permanent disability while working. At the third national life insurance conference held in Accra, the insurers highlighted the need for group life insurance as a foundation for economic stability. It had the theme, ‘group life insurance: a relevant tool for income security for the family, industrial harmony and socio-economic development’. Speaking at the opening of the conference, the Second Vice President and Chairman of the Life Insurance Council, Mr Edward Forkuo Kyei, said insurance penetration in the country was less than two per cent and that insurance density was also porous or highly concentrated in certain circles. “This compares unfavourably with other African countries with increasing penetration rates such as South Africa, with 15.4 per cent, Namibia with 7.7 per cent, Mauritius with 5.7 and Kenya, 3.4.”

Group life insurance, Mr Forkuo Kyei said, offered very good solutions for countries that had deployed group life as a compulsory employee benefit scheme to safeguard against social catastrophes. “I believe that the Ghanaian insurance market is a growing one with huge potential for expansion and thus an urgent need for policy makers to perceive insurance as part of the solution to stabilise Ghana’s economic challenges,” he stressed. The Commissioner of Insurance, Ms Lydia Bawa, said the most important element of any organisation was its human resource, and “it, therefore, behoved on all organisations to take pragmatic steps to protect their most important resource.” The life insurance industry, she said, had seen significant growth since the separation of life business from the non-life in 2007. She said life insurance premiums had grown at an average annual rate of more than 30 per cent from GH¢187 million in 2010 to GHC580 million in 2014. “In spite of the above, life insurance in Ghana is nowhere near its full potential. The industry is yet to mobilise long-term domestic resources to fund socio-economic infrastructure development,” she said.

Ms Bawa said, NIC for its part, was planning to upscale public education on insurance in order to ensure that buyers of insurance had a reasonable understanding of the products they bought and also knew what to do or where to go when they had challenges. One of the pioneers of life insurance in Ghana, Mr Kwame AcheampongKyei, who is also the executive chairman of GLICO Group, said the promotion of group life insurance presented an opportunity to increase insurance penetration in the country. “This is because a single employer can purchase a policy cover for a number of employees’’, he said. He advised insurance companies to be innovative by developing products that would attract the uninsured and not resort to undercutting their competitors by offering low premiums to the already insured. Sharing the South African experience with captains of the insurance sector, the head of pricing and reinsurance at MMI International, South Africa, Ms Brice Salence, explained that group life provided social safety nets for the poor. She said even though group life insurance was not compulsory in South Africa it was highly patronised as a result of the enormous benefits it offered.

Paulson’s hedge fund Paulson & Co. has also shared the same breakup ideas with analysts who follow AIG, said people familiar with the situation. AIG’s Mr. Hancock said Wednesday that AIG welcomes ideas from investors but already is on course to simplify its operations and risk. He will have another opportunity to respond Tuesday during a scheduled conference call with analysts. AIG is scheduled to report thirdquarter earnings on Monday. It is expected to post lower operating income compared with a year earlier. Mr. Hancock, who took over as CEO in September 2014, has taken some steps to address shareholder concerns. Last summer, the company increased its common-stock dividend by 124 per cent and said it would buy back more shares. Shortly after Mr. Paulson presented his three-way breakup case to Mr. Hancock, the CEO also used his annual shareholder letter in April to outline the advantages of AIG’s current structure. The company, he said in the letter, balances risk “across products, geographies and clients” and its current structure can absorb higher compliance, risk management and technology costs, among other perceived advantages. The CEO also hinted at other moves AIG might make to satisfy shareholders, including “floating or selling businesses that lack current or realizable potential synergy with our core operations.” Analysts have long speculated that AIG could look to separate its mortgage-insurance business. Some inside the company view mortgage insurance as “not really core,” one person close to the matter said. The unit generated $261 million in revenue during the second quarter, the smallest of AIG’s six business segments. Private mortgage insurance occupies one of the lower-profile corners of the financial world and nearly went extinct during the last housing crisis amid heavy homeowner defaults. Home buyers putting less than 20% down are required to obtain the coverage. If the home is lost to foreclosure, the insurer takes the first loss. Mortgage insurers began to post better results due to higher credit quality of underlying loans, fewer defaults and stiffer standards as the U.S. economy began to improve. Hedge funds including Paulson & Co. invested in the sector. (Source: marketwatch.com)

Tuesday, November 3, 2015

Money

National Mirror www.nationalmirroronline.net

Banks restrategise, rebrand for competition In order to survival the keen competition and harsh business environment many Deposit Money Banks, DMBs are rebranding and finetuning strategies to keep their customers and attract new ones. UDO ONYEKA reoports.

here are indications that banks operating in the country have begun to retool their strategies in a effort to woo new customers and retain old ones. For instance banks have resumed lending to retail customers including small business owners and individuals, a development analysts say would positively impact on the economy. The Banks are increasingly re-engaging with and playing their financial intermediary role in the economy. Apart designing innovative and specific products for their customers many banks have improved on their infrastructure. There use to a time when infrastructure was hampering operations. As a result inadequate infrastructure such as Information Technology (IT) many banks operating in the country rendered poor services to their customers due to regular breakdown of internet and other electronic facilities. And t the admiration of bank customers the Automated Teller Machines ATMs which used to be a night mare to users to its unreliability have greatly improved. Banks have also churned out many e-banking payments channels enable doing banking business in the comfort of their offices and homes. However in spite of all these innovations and improved service delivery many banks have go a step to further to by rebranding. For instance Fidelity Bank said its rebranding was borne out of the need to reflect the changing times, acquired strength, strategies and renewed drive to serve in a competitive environment. The Managing Director and Chief Executive Officer of the bank, Nnamdi Okonkwo, in his presentation at the official unveiling of the financial institution’s new face, said the decision reflects a milestone in the 27-year history of the lender. According to him, the new brand identity is a reminder of the bank’s rich background, inspiration for future, vibrancy and the energy to conquer new frontiers. He noted that in the life of every business, there are various moments that call for change, which now form the motivation behind the bank’s rebranding project. “Our business environment is changing and we realise that to remain true to the customers we serve, it is imperative that we stay in tune with the times. “We are not just giving our brand a new look, but more importantly, we are actively changing the way we do

CBN Gov, Emefiele

Emuwa

Our business envirOnment is changing and we realise that tO remain true tO the custOmers we serve, it is imperative that we stay in tune with the times business- becoming more focused on our customers’ needs and exceeding their expectations. Rebranding, therefore, makes this contract visible to our stakeholders. “Changing trends mean that overtime, brands age and require renewal. Major global brands also constantly evolve to remain relevant with the times and so it became obvious that we needed to reposition our brand as a modern and forward thinking bank,” Okonkwo said. The bank chief said that the face will leverage on technology to improve customer service, as it has already repositioned its electronic channels and banking products to not only reflect our refreshed identity and the regulatory mandates of the Central Bank of Nigeria (CBN), but re-affirmation of its commitment. FBN Holdings, parent company of First Bank of Nigeria recently unveiled a new identity which defines its strategic direction to become the leading financial services group in sub-Saharan Africa. The new identity has the picture of head of a big and mature elephant that looks serious in motion and ready to achieve unlike the former logo that has full body of a lazy walking elephant. Speaking at the unveiling last week, Bello Maccido, CEO, FBN Holdings, said the refreshed FBN Group’s identity is an important milestone and the culmination of much hard work. “We are committed to building a fi-

nancial institution that consistently supports growth and that celebrates and showcases the unique characteristics of the diverse nations on our continent. We believe that our continued success will be built on the principle that we will add value nationally, regionally and at continental level. Our customers have always come first and each and every change that we implement as a group is designed to ensure that continues.” Chief Executive Officer and Managing Director of Union Bank, Mr Emeka Emuwa, the critical milestones we have achieved in the past three years have laid a solid foundation for us as a bank. “The launch of this refreshed identity signals a new phase in Union Bank’s transformation as we set our sights on attracting a new base of customers while remaining focused on providing simple and smart banking solutions to all our customers”, he said. Chairman of Union Bank, Sen. Udoma Udo Udoma, said: “I am very proud of the strides the bank has made during my time as Chairman and I commend the Board, Management and Staff on their hard work over the years and I am sure the Bank continue succeed as it embarks on a new phase with a refreshed brand identity.” In the same vein First City Monument Bank, FCMB recently unveiled a new corporate identity to reflect an expansionist disposition cum contemporary flavour.

With the new look, its traditional corporate colours of black and gold which denotes exclusivity have been replaced with a vibrant combination of purple and yellow in an attempt to reflects its new positioning as a retail bank. The Logo also went through some tinkering to make it less formal and more contemporary, yet retaining the distinct FCMB touch. Speaking at the formal unveil of the new corporate identity, the GMD/ Chief Executive, FCMB, Ladi Balogun, who noted the refreshed identity signposts the present position and future of the bank added that it is a reflection of the bank’s move from exclusivity to retail banking. “We have reached the height of our evolution, and we feel we are now ready to wear a new look that is reflective of not only where we are, but also where we are going. Our long term goal to be the premier financial services group of African origin remains. At the heart of the group is emerging a vibrant retail bank that seeks to rewrite the rules of the game.” Also Wema Bank has pledged to remain innovative as it revealed its new identity. The bank revealed the new logo at all its branches nationwide recently. In explaining the reason for rebranding, Managing Director, Wema Bank, Mr. Segun Oloketuyi, said, “We have been through many faces in our corporate life and where we are today thank God that Wema has been repositioned. When I joined Wema bank, the description were old school, old bank, processes that are not working, no technology and innovation. “We put in six years of work to reposition the bank so we gave a contemporary institution like others operating in the same industry. And having done that, we thought it fit to give a new look to Wema bank.” He disclosed that the branches had already gone through rebranding in their service. “What we have done in the past six years is to work and then get to the point where we can step out and make claims that are authentic and verifiable. “The distinct interconnected lines represents the bond we share with all stakeholders. Purple remains the colour for royalty and strength and this purple is more attractive. From Monday, this is your new logo and we are sending out a brand meaning commitment to service, innovation,” Oloketuyi said.

Global Business

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

October factory, services U.S. jobs data to hold key to China’s surveys show economy still wobbly Fed’s rate plans A U .S. jobs data due in the coming week may hold the key to whether the Federal Reserve will raise interest rates for the first time since 2006 in December, signaling its intention to end an era of almost-free dollars. An increase in Fed rates would have consequences well beyond U.S. borders, increasing borrowing costs for dollar debtors in emerging markets, pushing up the greenback against some major currencies and driving a global reallocation of investment money. The Fed, which has a dual mandate including inflation and employment, put a December rate hike firmly in play in the past week and investors will be scrutinizing Friday’s U.S. employment data to work out the odds of such a move. Analysts polled by Reuters expect U.S. employers outside the agricultural sector to have added 180,000 jobs in October and overall earnings to have increased by 0.20 percent during the month. “If we get 175,000 or 180,000 (new jobs) and wages up three tenths of a percent, that significantly increases the probability that the Fed will raise rates in December,” said Mickey Levy, an analyst at Berenberg in New York. HSBC economists also said that average job gains above 150,000 a month in October and November may be enough to keep a December

Obama

rate hike on the table for most members of the Fed’s Federal Open Market Committee. Financial markets are pricing in a 50 percent probability that the Fed will increase its main interest rate to 0.25 percent or even 0.50 percent from the current 0.125 percent on December 16, according to data compiled by CME group. The state of the U.S. labor market is not the only concern for the Fed, which made an explicit reference to “uncertainty abroad” when it decided to hold rates steady in September. Even though this reference disappeared in the October policy statement, lower growth in emerging markets including China and falling oil prices has taken a toll on U.S. manufacturers. A survey due on Monday is ex-

pected to show activity in the U.S. manufacturing sector marked time in October, losing further momentum from the month before. That partly reflects weakness in China, where manufacturing output unexpectedly shrank in October for a third straight month, an official survey showed on Sunday. The U.S. non-manufacturing sector, however, was chalking up solid growth, albeit at a slightly lower pace than in September, another survey is expected to show on Tuesday. “There are some headwinds from U.S. companies, especially manufacturers, while services have done okay,” Matthias Thiel, an economist at M.M. Warburg, said. “(But) when it comes to the labor market, the U.S. is in a position to hike rates.” Across the Atlantic, the chances of any rate hike are seen as more distant. The Bank of England is forecast to hold interest rates steady on Thursday, with just one member of its monetary policy committee seen voting for raising the main rate from the current 0.50 percent. The BoE is also expected to cut its growth and inflation projections. Britain’s economic recovery slowed more than expected in the three months to September after a slump in construction, suggesting more than two years of relatively rapid economic growth may be coming to an end.

Lufthansa cabin crew union says pay talks have failed

alks between Lufthansa (LHAG.DE) and its main cabin crew union have failed, the union said late on Saturday, raising the prospect of more strikes at the German carrier. Lufthansa is in talks with various staff groups as it seeks to cut costs in order to compete better with low-cost carriers and Gulf rivals. A long-running dispute with its pilots over pay and conditions has already resulted in more than

Lufthansa

a dozen strikes over a period of 18 months. Strikes so far this year have cost Lufthansa 130 million euros ($143 million) in lost profit. The cabin crew union, which represents 19,000 staff, had given Lufthansa until Nov. 1 to put forward a better offer in long-running talks over pay, retirement benefits and working conditions. Despite a constructive start to talks over the weekend, Lufthansa refused to reconfirm agreements it had previously made verbally, Nicoley Baublies, head

of the union, told Reuters. “Strikes are a possibility,” Baublies said, adding that the union would announce its next course of action on Monday. The union had previously threatened strikes over the summer, but agreed to restart talks after Lufthansa made some compromises. Lufthansa said on Sunday that the offer it had made for retirement provisions was the best it could do without worsening its cost position further. Bettina Volkens, head of personnel at the group, said the company could not make any compromises that did not lead to cost cuts. “We have good results this year, but we haven’t solved our structural problems,” Volkens said. Lufthansa earlier this week said it expected to make an operating profit of 1.75-1.95 billion euros this year, which would be the highest in its history, although it was helped by low fuel prices and a good summer for travel demand in Europe.

ctivity in China’s manufacturing sector unexpectedly contracted in October for a third straight month, an official survey showed on Sunday, fuelling fears the economy may still be losing momentum in the fourth quarter despite a raft of stimulus measures. Adding to those concerns, China’s services sector, which has been one of the few bright spots in the economy, also showed signs of cooling last month, expanding at its slowest pace in nearly seven years. As the first major indicators of business conditions in China released each month, the PMIs reinforced the view that the economy remains in the midst of a gradual slowdown which will require Beijing to roll out more support in coming months. “While the PMI has stabilized, it is too early to confirm a bottoming out,” economists at ANZ Bank said in a note. “As deflation risks intensify, a further RRR cut before end of this year is still possible,” ANZ said, referring to reducing the amount of reserves that banks must hold in order to free up more funds for new loans. The official Purchasing Managers’ Index(PMI) was at 49.8 in October, the same pace as in previous month and lagging market expectations of 50.0, according to the National Bureau of Statistics(NBS). A reading below 50 points suggests an contraction.

Chinese PM, Li Keqiang

New export orders contracted for a 13th straight month, though the sub-index for new orders - a proxy for both domestic and foreign demand - edged up marginally to 50.3, compared with September’s 50.2. Faced with persistently weak demand, factory owners continued to lay off workers and at a slightly faster pace than in September. “Because of the recent weak recovery in the global economy and downward pressure in the domestic economy, manufacturers still face a severe import and export situation,” Zhao Qinghe, a senior statistician at the NBS said in a statement accompanying the data. Major Chinese construction machinery maker Sany Heavy Industry Co Ltd said on Friday it swung to a loss in the third quarter, affected by a glut of unsold equipment.

Eurozone inflation returns to zero

rice growth in food, alcohol and tobacco increased slightly, while energy prices were still considerably lower than last year, according to Eurostat estimates. The statistics agency also estimated the unemployment rate in the 19 countries that use the euro was 10.8 per cent in September, down from August’s 10.9 per cent. The rate for the 28 EU members was 9.3 per cent, down from 9.4 per cent the month before. The eurozone rate is the lowest since January 2012 while the rate for the whole EU is the lowest since September 2009. Greece had the highest rate at 21.6 per cent (Greece is expected to be

EU Bank President Mario draghi

higher but has yet to report September figures), while Germany had the lowest at 4.5 per cent. The inflation figures are an early, flash estimate from Eurostat and so are not broken down by member state. It does give broad indications of which groups of products have gone up or down. Food, alcohol and tobacco prices were estimated to be rising 1.5 per cent in October, compared with 1.4 per cent in September. Energy prices were falling an annual 8.7 per cent, compared with 8.9 per cent a month earlier. And the price of services were up 1.3 per cent compared with 1.2 per cent the month before. Mario Draghi, president of the European Central Bank, suggested this month that he might be prepared to extend the bank’s programme of quantitative easing given the low levels of eurozone inflation. “Although today’s inflation and unemployment data for the eurozone revealed small improvements, they are still very weak by past standards, suggesting that the ECB cannot afford to delay increasing its policy support much longer,” said Jessica Hinds, European economist at Capital Economics.

Tuesday, November 3, 2015

Capital Market

National Mirror www.nationalmirroronline.net

Sanctions, poor earnings take toll on equities’ performance Johnson okanlawon

rading in equities closed on a negative note last week following unimpressive third quarter results released by companies, sanctions from the Central Bank of Nigeria and the remarks from the Financial Reporting Council on suspension of a bank directors over . In the week under review, the All Share Index depreciated 834.1 points or 2.78 per cent to close at 29,177.72 points, while market capitalisation shed N370.1 billion to close at N9.9 trillion. The Oil and Gas Index Index was the worst hit with 6. 53 decline to close at 340.06 points, followed by the Pension Index with 6.46 per cent to close at 868.14 points. The Main Board Index shed 3.75 per cent to close at 1,378.56 points, while the Banking Index depreciated 3.43 per cent to close at 308.72 points. The NSE 30 Index depreciated 3.30 per cent to close at 1,319.79 points, while the Consumer Goods Index fell 1.97 per cent to close at 748.10 points. The Premium Index, Lotus Islamic Index and the Industrial Goods In-

David-Borha

First Bank GMD/CEO, Bisi Onasanya

dex lost 0.92 per cent, 1.79 per cent and 0.65 per cent to close at 1,581,14 points, 1,960.16 points and 2,103.73 points respectively. The Insurance Index gained 0.24 per cent to close at 139.73 points and the Alternative Securies Market Index closed flat at 1,205.90 points.

Transcorp launches N10bn bond to investors Johnson okanlawon

ranscorp Hotels Plc has announced its issuance of a N10 billion naira bond. A statement by the company indicated that the proceeds of the issue would be used to finance the upgrade of the company’s flagship Hotel, Transcorp Hilton Abuja, and construction of a multipurpose banquet centre. It explained that the transaction is a seven year fixed-rate bond due in 2022 under a N30 billion medium term bond programme and the subscription consists of N10 billion in series 1 in a Senior seven year 16.00 per cent fixed rate (Unsecured) bonds due 2022. The company hinted that the series 1 bonds were fully underwritten by FSDH Merchant Bank Limited and United Capital Plc. It stated: “The new

bonds will carry a gross coupon of 16.00 per cent per annum (amortised) for a period of seven years. The redemption on maturity, expected to be 2022, will be at 100 per cent of the nominal amount of the bonds. “The bonds are available in denominations of N1,000, and will be listed on the main market of the Nigerian Stock Exchange and also the FMDQ OTC platform for enhanced tradability. FSDH Plc is the lead issuing house, while United Capital Plc and Stanbic IBTC Capital Limited are joint issuing houses. FSDH and United Capital Plc are the joint underwriters on the transaction,” the company added According to the company, the transaction represents part of financing of the upgrade of the Transcorp Hilton Abuja and the development of a 5,000-seater multipur-

pose Banquet centre. The Managing Director of the company, Mr. Valentine Ozigbo, said the availability of funds enables the company to enhance our financial flexibility by diversifying sources of funding while significantly extending the maturity of the group’s funding and ensuring optimal capital mix. “We are delighted by the investor reception for Transcorp Hotels in the bond markets,” he added. The company held a signing ceremony in Ikoyi, Lagos to mark the bond issue and it has secured Securities and Exchange Commission, SEC, approval as well as a certificate of PENCOM Compliance to enable participation by the Pension Fund Administrator, PFA community, as one of the target investors in the bond.

Shares and market capitalisation of Stanbic IBTC Holdings PLC have taken a heavy hit following the suspension of its chairman, managing director and two other directors by the Financial Reporting Council of Nigeria for filing misleading financial statements. Between Monday and Friday when the FRC made its decision public, the shares had fallen from N23.00 per share to N18.91 per share, a decline of N4.09 or 17.78 per cent, data from the Nigerian Stock Exchange showed. The FRC had on Monday directed Stanbic IBTC Holdings to withdraw and restate what it described as misleading financial statements for the years ended December 31, 2013 and 2014. It also suspended the group’s Chairman, Mr. Atedo Peterside; Chief Executive Officer, Mrs. Sola David-Borha; two other directors, Mr. Arthur Oginga and Dr. Daru Owei; and Ayodele Othihiwa of KPMG Professional Services, the group’s auditors, all for attesting to the misleading financial position of Stanbic IBTC Holdings for the two years. The council had in August opened an investigation into Stanbic IBTC in response to a petition written by shareholders of the bank, drawing the attention of the regulatory authorities to some unapproved transactions allegedly conducted by the bank with its foreign technical partners. Also, First Bank of Nigeria Limited paid the sum of N1. 877 billion for violating directive by the Federal Government on Single Treasure Account. In the week under review, the FBN Holdings shares dropped 83 kobo or 14 per cent to close at N5.10 per share, from the opening figure of M5.93 per share. A statement by the bank indicated that it was still discussing with the CBN on the regulatory decision. “FBN

Holdings assures the public that First Bank of Nigeria Limited and the entire FBN Group are responsible corporate citizens and remain committed to values epitomized by strict compliance to the highest standards of ethics and corporate governance,” the bank said. Meanwhile, some shareholders of the Stanbic IBTC Bank, under the aegis of Progressive Sharehold¬ers Association of Nigeria, PSAN, have called on regulators of the market, including the FRC to be cautious in their utterances so as not to further erode value in the market. The PSAN’s members led by its National Coordinator, Mr. Boniface Okezie, condemed the manner in which the FRC had addressed the issue, saying that it takes a little thing to destroy confidence in the market and in a bank and when there is no confi¬dence, there will be a run on that bank and ultimately the collapse of the system. “Regulators are meant to guard institutions from col¬lapse and not bring them down as our regulators are doing. We have been in total shock since Monday when the FRC made the an-nouncement,” he said. The shareholders also accused the CBN for keeping mum on the actions of the FRC, saying that the accusations of the FRC is an in¬dictment on the capability of CBN and the Nigeria De¬posit Insurance Commission, NDIC, to adequately audit the reports of the banks. Okezie, who expressed disappointment in the FRC and its interpretation and understanding of its role in Nigeria and the way and manner in which it is executing its mandate, said “we recognise that the FRC is currently operating with¬out the necessary oversight structures that ought to exert modulating influences on its excesses.”

Features

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Airport: Getting Nasarawa ready for abundant opportunities With the signing of an MoU on an airport project for Nasarawa State, the governor, Umaru Tanko Al-Makura, appears set to attract abundant opportunities to his territory once the project is completed. IGBAWASE UKUMBA reports.

erhaps, the location of Nasarawa State in the belt of the food basket of the nation and its proximity to the Federal Capital Territory, FCT, were said to be the reasons why Governor Umaru Tanko Al-Makura conceived a dream for the construction of a civil airport in the state to exploit the economic potentials lying waste in the state for the benefit of the state and Nigeria. The airport dream came into fruition on October 15, 2015, when a cream of the Nasarawa society, alongside its well wishers, were in the Government House, Lafia, to give their blessings to the long awaited Nasarawa State airport project as a Memorandum of Understanding, MoU, for the construction of the airport was signed at last between the Nasarawa State government and a Chinese firm, Tongyi Group. Governor Al-Makura signed the MoU on behalf of the Nasarawa State government, while Mr. Algreen Zheng signed the MoU on behalf of the Tongyi Group, the firm earmarked to handle the construction of the airport. Speaking at the MoU signing ceremony, the state governor said that the airport would serve both domestic and cargo services. By signing the MoU, he disclosed that the state government would provide 25 per cent of the fund for the construction of the airport while Tongyi Group, through its financial consultants, would inject 75 per cent needed to complete the project. “Tungyi Group is not just the contractor to building of the airport, but they would as well inject into the project, through a consortium, 75 per cent of the fund for the airport project, while the state would pay N3 billion exclusively from the intervention fund allocated to the state by the federal government for infrastructural development,” Al-Makura said. Our correspondent observed that since the coming on board of Governor Al-Makura as governor of the state, his government had planned to find ways to open up the state to greater development in order to liberate it from the shackles of under development. This could be attested that since 2012, Al-Makura’s administration has thought of how to open Nasarawa State up for development after the construction of township roads across the state’s urban centres. Besides, it could be recalled that recently the Chinese government, through Tongyi groups, approached Governor Al-Makura, seeking his permission to invest about $1 billion dollars in Nasarawa State in the next five years in the area of power generation, mining, airport, job creation and road constructions. Shortly after the Chinese government representatives interaction section with governor Al-Makura and other state government officials at the Lafia Government House, General Manager of China Public Procurement, Mr. Yong Shubo, explained that China was looking at the possibilities of making Nasarawa State an investment hub because of the opportunities that abound due to the proximity of the state to FCT. Mr. Shubo added that the Chinese government would equally look at the Karu International Market and prepare proposal for areas of partnership and job creation. According to him, “the market is capable of creating over hundred thousand jobs with a multiplier effect subsequently.” It was in line with the state’s proximity to the FCT that the governor envisaged a cargo airport for the state which would provide services to the nation’s capital that no one else could provide. He equally disclosed during the MoU signing ceremony that “under

when the aIrport Is FInally Completed, It wIll, no doubt, provIde ConvenIenCe For both the people oF

nasarawa state and

the neIghbourIng states that are In the belt oF the Food basket oF the natIon, as well as the

FCt

Al-Makura

It was In lIne wIth the state’s proxImIty to the FCt that the governor envIsaged a Cargo aIrport For the state whICh would provIde servICes to the natIon’s CapItal that

no one else Could provIde

the MoU, the Chinese firm would as well construct a highway from the airport to the Federal Capital Territory, FCT, which when completed would take commuters only one and half hours drive to reach the airport in Lafia from the FCT. Al-Makura stated further: “We are thinking of a very cognisant airport that small aircrafts can land; and given the developmental strides in the state and its strategic position being occupied within the North Central Zone, we cannot but consider a more ambitious concept where the state, given its nearness to FCT, would give

certain complementary services to the nation’s capital. “I had always nursed an idea of having an airport in the state with a simple logic. For instance, when you go to Washington DC in the United States of America, USA, it has about four to five airports. With all our developments as a nation and also as a government with all the facilities and the opportunities in the FCT, we have only one airport.” Al-Makura decried that the only closest airport to the FCT is that of Kaduna which is more than 200 kilometres away. So, the governor felt that as a state closest to the nation’s capital, and a state whose about 60 per cent of its landmass is being inhabited by the FCT workforce, he has to take a decision to provide complementary support to the FCT by building a cargo airport for the benefit of the residents of the nation’s capital as well as residents of the state and its neighbouring states. It was against this background that Al-Makura concluded the signing of the MoU ceremony thus: “I need to say that all the stakeholders involved and the critical partners in this project should synergise with one another to ensure optimism in the execution of the project. The airport project would not only boost the economy of the state and the neighbouring states which are in the belt of the food basket of the nation but the nation at large hence the firm handling the project should cooperate with all stakeholders and complete the project on time. To Nasarawa State traditional council, the day of signing of the MoU was a day which the state was just created because of the envisaged enormous economic benefits the state would derive from the construction of the airport. Chairman of the traditional council and Emir of Lafia, Alhaji Isa Mustapha Agwai II, then told personnel of Tongyi Group, the contracted firm handling the airport project that, “I, on behalf of the entire members of the state traditional council, assure you of an absolute safety of your lives and property as you embark on this gigantic project. “Moreover, the traditional council would as well be fervently praying for the firm in order that its activiCONTINUED ON PAGE 39

National Mirror www.nationalmirroronline.net

Features

Tuesday, November 3, 2015

‘Help! I’m losing my sight’ With his left eye gone blind, it is now a matter of time, it seems, before Rotimi Sowemimo loses his right eye and goes totally blind. But he says he still holds a flicker of hope if rescue could come sooner than later. AFOLABI GAMBARI reports

ew people would be disadvantaged and still keep their spirit high, especially after encountering harrowing challenges that make life less worthy of living. 31-year-old Rotimi Sowemimo proved to be among the few. In real terms, he should have attained a certain status that would guarantee self-sustenance, if not a life time of bliss. Yet, he has a long way to go in getting to his destination, no thanks to his suffering the pangs of eye cataract and glaucoma. Sowemimo was in the Junior Secondary School class 3 in 1997 when what would later turn his light to darkness descended on him, as it were. “It started as “Apollo” (medically known as conjunctivitis) and I treated it normally,” he said. “I think something went wrong with my left eye which I didn’t quite know early enough. Not until I started experiencing blurred view did I realise the need to see an optician.” The quest to redeem the dimming left eye first took the native of Abeokuta but who was born and raised in Lagos to Isolo General Hospital for checks. In the beginning of his frequent visits to the hospital, he got “all is not lost” assurance from the doctors he encountered. “I was also given a pair of eye glasses to wear in order that I didn’t expose the eye to sun rays,” he recalled. “But I was not feeling good and I felt my sight was getting impaired by the day. “On one certain day, an optician at the hospital recommended that I went to the Lagos University Teaching Hospital to seek proper care. It was at LUTH under the care of Dr. A. Rotimi-Samuel, that I was diagnosed as suffering from cataract and glaucoma after which I was referred to the Ikeja Eye Foundation.” It seemed solution to his predicament had been found at last, especially as doctors at the hospital assured that he would regain his sight. However, there was a snag. He must pay N270, 000 to get effective treatment. But there was no immediate redemption, no thanks to his poor financial status. As a member of the Mountain of Fire Ministry (MFM) Headquarters in Lagos, Sowemimo should have been lucky to have a generous man as the MFM founder, Dr. D. K. Olukoya. He did not disagree that a meeting with the man of God would put him on the way to sight recovery. But he has an objection, all the same. “There are so many needy people in the church with different challenges who seek the pastor’s audience and there is a whole lot of protocol involved,” he continued. “It could take up to next year before it gets to my turn to see him. It is not that I can’t afford to wait, especially as the doctors have not given me a time limit to get the eye sorted. But the truth is that I need to get my life moving and I have resolved that the best way for now is to cry out to good-spirited Nigerians.” Interestingly, Sowemimo does not enjoy relying on others to survive. Twice he had been engaged in paid jobs, but he lost the jobs soon after he got them. “A school in Lagos State employed me in 2004 as a cleaner. I really did the job well and the school authorities were impressed. Unfortunately some parents complained on why the school should employ a one-eyed man as myself. When the complaints became too much, I had to be relieved of my job in 2006. “I had to wait another five years before another one in Ilasamaja, Lagos State, employed me as security

Sowemimo

guard in 2011. Sadly, some parents started complaining again on why the school should engage a blind person as a guard. Despite that I could still see with one eye and despite my efficiency, I still lost the job.” It was an irony for a man who describes work as “my first hobby.” “Nothing gives me a sense of fulfillment more than being engaged in some work,” he further said, stressing, “There is no job that I cannot do as long as the job is legal.” Sowemimo, who could well be a comedian with his cracking jokes that intermittently spiced his interaction with our correspondent, resides at 13, Shittu Street, Idi Araba, Lagos State and can be reached on telephone (08091823418) and Guarantee Trust Bank (Sowemimo Rotimi-0014440305).

Sadly, Some parentS Started complaining again on why the School Should engage a blind perSon aS a guard.

deSpite that i could Still See with one eye and

deSpite my efficiency, Still loSt the job

Airport: Getting Nasarawa ready for abundant opportunities CONTINUED FROM PAGE 38 ties in the state are safe to deliver the project in consonance with the terms of agreement.” Basking in the euphoria of an assured safety of the firm’s human and capital resources while carrying out its activities in the state, the chairman of Tongyi Group, Mr. Algreen Zheng, who was full of joy for harnessing the airport project of the state, expressed appreciation to the government and people of the state for giving the firm that opportunity. He noted: “When the airport is finally completed, it will, no doubt, provide convenience for both the

people of Nasarawa State and the neighbouring states that are in the belt of the food basket of the nation, as well as the FCT. Hitherto, Mr. Zheng promised to deliver the airport project according to specifications.” When our correspondent sampled opinions of few residents of the state over the governor’s step for a Nasarawa airport, they were all appreciative , pointing out that it was one gigantic stride that would improve the economy of the state. Abdullahi Osabo, an applicant, said that when the airport project is completed, it would offer job op-

portunities to many unemployed youths even as it would boost commercial activities thereby create wealth to residents of the state. On her part, a Lafia based food vendor, Mrs. Lucy Atsongo, believed that the building of an airport in the state, particularly that of a cargo type, would attract both local and foreign investors that would come to harness the abundant agricultural produce and other resources in the mining subsector of the economy that are wasting for onward export thereby creating revenues for the local populace in the North Central zone of the country.

Tuesday, November 3, 2015

Global Business

Swedish central bank fights deflation, housing bubble worries mount

ouse buyers in Sweden have never had it so good, at least by some measures. But cheap credit and spiraling prices may be creating a bubble one that could send the country’s economy reeling when it bursts. Sweden now has one of the fastest growth rates of any developed economy. Inflation is near zero and official interest rates are below zero. Home buyers can take advantage of interestonly loans and a variety of tax breaks. On the other hand, consumer debt is about 175 percent of disposable income, one of the highest rates in Europe. Housing prices keep rising apartments in Stockholm cost around $6,350 per square meter, on a par with London’s $6,750. Most Swedes would take a century to repay mortgages at current rates. “The prices are just crazy,” said 37-year-old Cathrin Wentzel. She was looking at a one-bedroom, 44-square-meter flat built in the 1930s in the chic Kungsholmen area of Stockholm. It featured a fireplace and balcony and had a view of the water. Asking price: 3.8 million crowns ($446,000). Wentzel reckoned she would need to offer at least 500,000

crowns more than that. “I won an auction last week, but even though I offered 900,000 crowns more than the starting price, the seller withdrew the apartment,” said Wentzel, who runs her own marketing company. “They did not think the bid was enough.” The Riksbank’s decision this week to keep rates lower for longer just extends a bonanza of cheap money that has fueled the real estate prices and borrowing. But the central bank is caught in a dilemma. Leaving rates so low only encourages home buyers. But raising them enough to tamp down the housing frenzy would also slow an inflation rate that is already flirting with zero and has dipped into outright deflation. The concern is that Sweden might end up with a local version of the 2008 financial crisis. Homeowners saddled with enormous mortgages might see the value of the homes plummet. They would cut back on spending, try to save more - and hobble the economy. In the last few months, concerns

Swidish Prime Minister Fredrik Reinfeldt

about a bubble have reached a fever pitch as house prices shot up still further. A government failure to clamp down on lending criteria has fed a 20 percent annual rise in the cost of apartments. Most bidding in Sweden for flats and houses is done by text messages. Potential buyers scurry off from office meetings or dinner parties to punch in their latest offer - often upping their bids by $10,000 to $20,000 a text. Mortgage borrowing grew at its fastest pace in more than 4 years in September.

Largest U.S. banks face $120bn shortfall under new rule

ix big U.S. banks need to raise an additional $120 billion, most likely in longterm debt, under a rule proposed on Friday by the Federal Reserve. The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Goldman Sachs Group Inc, (GS.N), JPMorgan Chase & Co, (JPM.N), and Wells Fargo & Co (WFC.N), can better withstand another crisis by turning some of their debt, particularly debt issued by their holding companies, into equity without disrupting markets or requiring a government bailout. The banks are expected to meet

Janet Yellen

the $120 billion shortfall by issuing debt, which is usually more cost-effective than issuing equity, according to Federal Reserve officials speaking at a background press briefing Friday. The rule proposed Friday, largely in line with banks’ expectations, concerns the lenders’ total loss-absorbing capacity. It is one of a series of rules aimed at reducing risk in the banking system by determining how much debt and equity banks should use to fund themselves. In a procedural vote, the Fed’s governors approved a draft of the proposal, meaning it will be submitted for public comment. During a public meeting with Fed officials, one staffer who worked on the rule said banks should have an easy time complying, because many requirements overlapped with existing rules. Further, the bulk of the debt requirements can be fulfilled by refinancing existing debt, the staffer said. Some requirements must be met by Jan. 1, 2019, while morestringent requirements must be met by Jan. 1, 2022. The requirements are most stringent for JPMorgan, followed by Citigroup Inc. (C.N) After that

come Bank of America Corp, (BAC.N) Goldman Sachs and Morgan Stanley, (MS.N) all of which have the same requirement. Wells Fargo & Co’s (WFC.N) requirement is the next highest, followed by State Street Corp (STT.N) and finally Bank of New York Mellon Corp. (BK.N) JPMorgan has more than $2 trillion in total assets, making it the largest U.S. bank by that measure. The officials declined to say which two banks already meet the long-term debt requirements under Friday’s proposal. The rules also apply to U.S. operations of foreign globally systemically important banks, establishing roughly parallel requirements as those for U.S. banks, Fed officials said. Also announced was a draft final rule establishing minimum margin requirements for swaps that are not cleared through an exchange. The rule is identical to one proposed by other regulators. A Wells Fargo spokesman said in a statement the bank is reviewing the proposal and it appears to be in line with expectations. Representatives from the other banks either declined comment or were not immediately available.

National Mirror www.nationalmirroronline.net

ECB reveals capital hole in Greek banks as unpaid loans soar

reece’s banks need to raise more than 14 billion euros (10 billion pounds) of extra capital to cover mounting unpaid loans, the European Central Bank said on Saturday as it announced the results of stress tests intended to rehabilitate Greek lenders. The capital hole has emerged chiefly due to the rising number of Greeks unable or unwilling to repay their debt, after a dispute over reforms between the leftist government and international lenders almost saw Greece leave the euro. As controls on cash withdrawals have squeezed the economy, loans at risk of non-payment have increased by 7 billion euros to 107 billion euros. That is roughly half of all the credit given by the country’s four big banks, according to the ECB. Almost 57 percent of the loans made by Piraeus Bank (BOPr. AT), the bank which fared worst, are at risk. The fact, however, that the declared capital hole is smaller than the 25 billion euros earmarked to help banks in the country’s bailout may encourage investors such as hedge funds to buy shares. Germany’s Deputy Finance Minister Jens Spahn said attract-

ing investors would reduce the support needed from the euro zone’s rescue scheme, the European Stability Mechanism. The lenders are currently kept afloat by central-bank cash but there is a rush to get the recapitalization finished. If it is not done by the end of the year, new European Union rules mean large depositors such as companies may have to take a hit in their accounts. Greece’s Finance Minister Tsakalotos said on Saturday he was optimistic that Greece’s banks would successfully recapitalize by the end of the year. The stress tests looked at how many loans would go unpaid if the country’s economy performs as expected up until 2017 - the so-called ‘baseline’.

Greek Prime Minister Alexis Tsipras

Deutsche Bank to cut 15,000 jobs

ermany’s biggest bank said it would cut 9,000 full-time jobs and 6,000 contractor roles. It is also planning to sell businesses employing 20,000 people over the next two years. By 2018, “we expect to see the benefits of our hard work and potentially be in the midst of a powerful turn-around,” said John Cryan, co-chief executive. The cuts represent just less than 15% of the firm’s total workforce. The bank’s shares fell 5.5% in Frankfurt trading. Deutsche is trying to cut 3.8bn euro of annual costs as European

Angela Merkel

banks struggle with sluggish economic growth in their home markets and stricter regulation. In times of low growth, reducing costs through job cuts is seen as a way to improve profits. The bank also plans to spin off Postbank with a stock market listing and sell its 20% stake in China’s Hua Xia Bank. It has also said it will stop dividend payments for 2015 and 2016. Mr Cryan told a news conference that the bank faced “hard decisions” as it was restructured. “We must reduce Deutsche Bank’s complexity,” he added. The bank said it would close businesses in Malta, Argentina, Chile, Mexico, Finland, Peru, Uruguay, Denmark, Norway, and New Zealand. Some branches in Germany would close as well, Mr Cryan said. The third-quarter loss was caused by more than 5.8bn euro of charges in writedowns and legal expenses at its investment bank and on assets it wants to sell, as well as higher litigation charges. Of the 9,000 full-time job cuts, about 4,000 will take place in Germany.

National Mirror www.nationalmirroronline.net

Tuesday, November 3, 2015

Akwa Ibom signs MoU with 20 foreign investors

he government of Akwa Ibom has signed initial Memorandum of Understanding with over 20 foreign investors to invest in the state, Dr. Emmanuel Onwioduokit, the Commissioner for Economic Development, has said. The commissioner made the disclosure on Monday in Uyo when some investors from Nasek Investment Limited, South Africa visited him. He said that the state was a fertile ground for investment with a strong economy bigger than other economies in Africa. He listed the economic potentials of the state to include the planned deep seaport, mega shopping mall and maritime boundary with the Gulf of Guinea and the Atlantic Ocean. He added that the state also shared land boundary with five states in Nigeria. Onwioduokit said that the policy thrust of the administration for foreign investment would favour would be investors since the bottlenecks encountered in the past had been removed. He said that the government was willing to assist and partner investors to succeed in the state. The commissioner said that although Akwa Ibom produced over 58 per cent of the nation’s crude oil, the government was ready to diversify into other areas to break its independence on the sale of oil. Earlier, the manager of Nasek Investment Limited, Mr. Kofi Sekyere, said that he and members of his delegation were on a fact finding mission to the state to look for the best area to invest in.

L-R: Dr. Justina Jumbo, from the Permanent Secretary Office of the Deputy Governor; President, Nigeria Medical Association, Rivers State Branch, Dr. Furo Green; Prof. Nelson Chukwuemeka Nwankwo, and chairperson of Local Organising Committee, Dr. Petrohilla Tabansi, during the Nigerian Medical Association Rivers State Branch, 2015 Physicians week.

Chief Judge of Bayelsa state, Justice Kate Abiri, inspecting a police parade during the event to mark the beginning of the 2015/206 Bayelsa Legal Year, in Yenagoa recently.

Navy destroys over 360 metric tons of crude in Delta CONTINUED ON PAGE 16 their activities and checkmate them and I repeat that if they don’t believe, we will meet at a bitter meeting point. There’s no hiding place.” The Commander, while noting the threat the unlawful trades posed to the life and environment of indigenes of affected Niger Delta communities, urged inhabitants of such communities to assist the federal government in the war against crude oil theft and illegal oil re-

fineries operation. Department of Petroleum Resources (DPR), Eket Office, on Monday gave petrol marketers in Akwa Ibom, three days to revert to N87 pump price or face sanctions. DPR Operations Controller in the state, Mr. Asuquo Antai, said in an interview with the News Agency of Nigeria (NAN) in Uyo, that there was no reason for the hike in pump price by the marketers. Antai said three million litres

of petrol was supplied to the state last week, as such there was no excuse for the current scarcity of the product. He warned that the department would seal any petrol station for three months if found selling the product above the official price. “From Thursday Nov. 5, no retail outlet should sell above government approved price of N87 per litre. “Any filling station that sells above the price will be shut for

three months and defaulters will have to pay fine before being reopened for business. “Any retail outlet that cannot sell for N87 per litre should close because we are going to monitor them strictly to ensure compliance,’’ Antai said. He lamented that some major marketers, including operators of NNPC mega stations, also divert the product allocated to them for higher gain. The controller also warned depot managers collaborating

with some marketers to shortchange Nigerians, to stop forthwith or regret their action. Antai assured that the Calabar depot had reasonable quantity of petrol to meet the requirement of the state, as such there was no need for diversion or panic buying. NAN reports that the state had been experiencing fuel scarcity for the last two weeks, with the product being sold at between N100 and N120 per litre.

Tuesday, November 3, 2015

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RCCG pastor abducted in Bayelsa OsahOn Julius YENAGOA

ew days after the abduction of 105 years old mother of Bayelsa Deputy governorship candidate, and few weeks after the brutal murder of a clergy man, it was revealed yesterday that another clergy, Rev. Mark Christmas, a pastor of

the Redeemed Christian Church of God (RCCG), New Anointing Chapel in Yenagoa, Bayelsa, has been kidnapped by unknown gunmen in his hometown. The pastor’s wife, Mrs. Evelyn Christmas, said that her husband was kidnapped with two other persons on October 18 in their hometown, Biseingbene, Ekeremor Local Govern-

ment Area, Bayelsa. Christmas said that her husband was invited to the community for a meeting by unknown persons on the fateful day. “When he got to the community, he found out that the invitation was not only false but a devilish plan to kidnap him,’’ she said. Christmas said that the pas-

tor had stayed over two weeks in their custody as they demanded N200, 000 for all their phone calls and N300 million as ransom. “It is over two weeks and I have not heard or seen my husband but some of our family members, who live in the village, told me that they spoke with them. “I planned to contact the po-

lice, but the family members said that I should not involve the police to avoid incurring more danger. “The reason is that my husband might be killed by the hoodlums if the police is involved in the matter.” Christmas described the situation as ‘’very painful”. “You cannot even speak with him on phone. I am worried and I am praying that my husband will come back alive,’’ she said. The Police Public Relation Officer (PPRO) in Bayelsa, ASP Asinim Butswat, when contacted, said the family had not reported the matter to the police. “They have not reported the incident to us, but if they come to us, we are ready to mobilise ourselves,” Butswat said.

Ogoni pledges to support UNEP report

Members of the family of Late Andrew Uwandi, during the ten years remembrance service at the St. Mark’s Anglican Church, Ubulu-Uku, for Uwandi who died in Bellview Air crash.

Police confirm militants’ attack in A’Ibom

he Police Command in Akwa Ibom on Monday confirmed the attack by militants at T-junction in Itu Local Government Area which occurred on Saturday. The Police Public Relations Officer in the state, ASP Cordelia Nwawe, confirmed the attack but denied the reported casualty figure. Nwawe said that the command had already mapped out strategies to curtail such attacks by militants in future. She said the command had also reached out to commands in other states to block their wa-

terways against militants’ infiltration into Akwa Ibom. “While there was militants attack at the T-Junction Market in Itu, I do not agree with the number of casualty. “As soon as the incident happened, the police were quickly mobilised and repelled the attacks. “This is a warning to all Nigerians; if you hear any attacks by armed robbers, do not run, lie flat on the ground to avoid stray bullets,” she said. However, a resident of the area, one Moses Phillips, told the News Agency of Nigeria

(NAN) that the gunmen suspected to be militants killed two middle aged women and injured many others at the market during the attack. He said that the militants, dressed in military camouflage, emerged from the river on two speed boats loaded with machine guns and other ammunition and struck during market hours at 8 a.m. Philips said that as soon as the militant boats berthed at the river bank, they opened fire indiscriminately. “The militants ordered cyclists and other young men and

women to carry all the things they had stolen into their boats. “The items they stole were essentially food items like rice, garri, fish, crayfish and palm oil. “They also carried fuel in drums that they will use in the creeks. It was unfortunate that the two women died. “The militants did not shoot at the crowd; they shot only into the air, but what I believe is that the bullets that killed the women, were stray bullets,” Phillips said. He said that policemen and soldiers arrived the scene after the bandits had left.

CONTINUED FROM PAGE15 According to him, the sensitisation will ensure that everyone is fully aware and understands the implications of the UNEP Report and to correct misconceptions about the environmental clean-up. He said that the participants further resolved that the institutions to oversee the clean-up should be supported, while the institutions should ensure that work plans, milestones were fully discussed with the Ogoni people. They also agreed to clarify to everyone that the clean up budget was for cleaning up the environment and was separate from funds that might be needed as compensations. Bassey said the workshop ended with the inauguration of the Ogoni Ecological Defenders (OED) and Monitoring Network to continually train, monitor and report on the clean-up and other ecological incidents.

Okowa calls for unity, consilidation among Anioma leaders

overnor Ifeanyi Okowa of Delta State has urged leaders in the North Senatorial district in the state to consolidate, unite and support his administration to achieve greater result. Okowa made the call on Monday in Asaba when leaders and elders of the area also known as ‘’Anioma’’ paid him a solidarity

visit. ``Once the leaders are united every other person in the state will be united and this will help to attract more development to the state and Nigeria at large,’’ he said. He also advised the leaders to encourage youths in the state to ensure peace and security, adding that ``it is only when there

is peace and security that investors will be attracted to the state. The issue of insecurity is a great challenge facing the country today; a lot of kidnapping and clashes between Fulani herdsmen and communities are going on in the country. This is not peculiar to the South-South region, it is also happening in the Northern part

of the country,’’ he said. Okowa urged local government council chairmen to educate their people on the need to be careful with the herdsmen to avoid attacks and reprisals. He also stressed the need to diversify the economy of the state from oil, saying ``if this must happen, we must keep our communities safe and secured

for investors to come in.’’ Speaking on behalf of the people, the senator representing the area at the Senate, Peter Nwaoboshi, thanked the people of the state for their support to the governor. Nwaoboshi assured the governor of their support, adding`` we the people of Anioma have no doubt of your ability.’’

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Politics

Tuesday, November 3, 2015

Revisiting Zakari’s stint as INEC boss Shortly after the retirement of Prof. Attahiru Jega as Chairman, Independent National Electoral Commission, INEC in June, the federal government appointed Ms Amina Bala Zakari as acting chairperson of the commission. OMEIZA AJAYI writes on Zakari’s four-month stint as INEC boss.

rom her appointment to her exit, her tenure was one of the most controversial in the annals of the Independent National Electoral Commission, INEC. Several allegations, from the mundane to the most ridiculous were leveled against her while invectives were freely hurled at her even though she did not superintend over any major election in the country. Such was the four months tenure of Amina Bala Zakari as acting chairperson of the Independent National Electoral Commission, INEC. Zakari’s appointment generated a lot of controversy especially with the hasty reversal of Professor Attahiru Jega’s transfer of power at the Independent National Electoral Commission, INEC to Ambassador Ahmed Wali, who as at then was one of the most senior and respected National Commissioners at the commission. First, partisan interests were quick to link her appointment to her closeness with the Kaduna State Governor, Mallam Nasiru el-Rufai. Hours after Jega successfully handed over the realms of INEC to Wali in a ceremony at INEC following his retirement, a section of the media alleged that el-Rufai, who was in Abuja for the inaugural meeting of the National Economic Council, NEC which held at the Presidential Villa a day before Jega’s retirement, hurriedly got in touch with President Muhammadu Buhari and convinced him to reverse Jega’s action. At the forefront of this campaign was the Peoples Democratic Party, PDP which faulted and rejected her appointment saying the reversal would “inject bad blood at the Commission.” As a National Commissioner at INEC, Zakari’s fiveyear tenure was to expire on July 21, but was appointed as the chairperson of the commission barely three weeks to her exit. Consequently, she took over from Amb. Wali, within 24 hours of the first handover, promising to improve on what Prof. Jega did at the commission. Before her appointment, Zakari was the national commissioner in charge of election planning and monitoring, having also been in charge of political party registration and monitoring. Knowing the task ahead, she immediately accepted her appointment describing it as a continuation of what Prof. Jega had started, saying there should not be any problem. “I have been part of the process: I have known the problems, challenges and I have seen the successes. What is remaining is for us to build on the successes and try to tackle the outstanding challenges”, she had said. Zakari’s curriculum vitae show that she is a pharmacist by profession and a native of Jigawa State. She completed her Secondary Education from the prestigious Queens College Yaba, Lagos. She then graduated with a Bachelor of Science (B.sc) Degree in Pharmacy with Second Class Upper (Best Graduating Student) in 1980 from the Ahmadu Bello University, Zaria. She was at various times at the Federal Capital Territory Administration FCTA as Mandate Secretary. As at the time she was appointed, the general elections had been concluded and what INEC had to grapple with was the series of election-related litigations. Then came the death of Senator Ahmed Zanna who won the 2015 election to represent Borno Central. He died before the 8th Assembly was inaugurated, while a House of Representatives member from Katsina state, Mohammed Abubakar Shiek also died just before the inauguration of the new assembly. Zakari has since conducted the bye-elections. She was also able to finetune modalities for the conduct of gubernatorial elections in Kogi and Bayelsa

Buhari

Zakari

Zakari’s appointment generated a lot of controversy especially with the hasty reversal

professor attahiru Jega’s transfer of power at the independent national electoral commission, inec to ambassador ahmed wali of

state. Despite the non-appointment of commissioners, she was able to make do with Amb. Lawrence Nwuruku who was the only national commissioner before now. This was even as she had to contend with the absence of Resident Electoral Commissioners in over 20 states of the federation. Overall, Zakari came in to the job ready for the challenges, for like she said, challenges cannot be envisaged because they come as the need arises. “So we tackle them as they come-one day at a time. And then try to sort out administrative issues ,then the major electoral issues, which a lot has been put into. We just need to improve where INEC seems to have failed or erred during the last elections”, she had said. She added that basically, half of the Resident Electoral Commissioners, RECs are on seat and half of the National Commissioners are on seat; promising to deliver the best she can until a new Commission is put in place. The recent renewal of her tenure as a national commissioner in INEC would surely provide her another opportunity to contribute her quota to the enhancement of Nigeria’s electoral process.

Kogi PDP says Wada will defeat Audu CONTINUED ON PAGE 14

President Buhari’s victory five months after the presidential election , when they should be busy strategizing on how to save their party from an imminent doom in this month’s governorship election,’’ Shaibu said. The party expressed shock that the minders of the APC can be beating their chest about defeating the PDP, when the party is in big mess following the confusion arising from its primary election which produced Audu as its flagbearer as well as the large ton of liabilities arising from the many un-

resolved corruption cases involving Audu. ‘’No one is deceived by the facade put up by the party at its governorship primary. In fact, the primary election was so tainted with obscene money and underhand tactics that many party faithful have publicly denounced it “Conversely, apart from the unity of purpose which exists within the ranks of the PDP members in the state, Governor Wada comes well prepared to trounce Audu at this month’s governorship poll. The reason for this is

not far fetched. Wada has touched the lives of everyone in the state in the areas of security, good roads, education and standard medical care, just to mention a few, in about the period of time former governor Audu used to promote violence and divisiveness in the state,” he noted. He pointed out that the PDP considers APC’s boast as nothing but a subtle blackmail, but that the party takes solace in the fact that the people of Kogi State will never pitch their tent with the opposition after their experience under ANPP’s four

years of misrule. ‘’It is important to state that the people of Kogi State have tasted the honey of good governance under the Idris Wada- led PDP government and will therefore not opt for the bitter pill of bad governance that has been the lot of the APC at all levels of governance. ‘’The good people of Kogi have said ‘never again’ to bad governance, and therefore will use their votes wisely in the upcoming governorship election to reiterate the statement that they made to Governor Wada in 2011,’’ Shaibu added.

Politics

Segun Olulade

t is worrisome that a state that possesses several natural resources like coal, steel and other mineral deposits can remain in a terrible economic situation as it is today. Just one among the many natural resources of Kogi was mainstay of economy of some countries elsewhere. Kogi connects South to the North with trade and tourism potentials added to agriculture which is predominant among the hardworking people of the State. But none of these opportunities were tapped into by the PDP government since 2003. From 2012 to 2014 under Wada administration, the State earned N240billion as revenues from both the Federation Account and Internally Generated Revenue. The state gets N80 billion as monthly allocation and still borrowed, yet the Government of Kogi is unable to meet both infrastructural development and servicing of the recurrent expenditures adequately. As we speak, for poor management under the current government of Kogi, civil servants in the state queue to collect only 20% of their total monthly income. Yes, you get N20, 000 if you earn a hundred thousand naira monthly. If lucky enough to be on the scale of N50, 000 monthly salary, you walk home with only N10, 000; that is how bad it is. It leaves one to wonder on the defence of Kogi government that it uses 80 to 90% of its revenue on recurrent expenditures. Despite the huge sum, Kogi state continues to wallow in underdevelopment and poverty while the governor calls for N210 billion intervention fund for its overall development. A state like Kogi does not need extraordinary hand to become great. It is a state that has set itself on the footing of economic prosperity provided a good manager is on board. The battle for the soul of Kogi is not just to be left as a political contest. Kogi itself is soul of Nigeria considering all indices. The stakeholders of the APC, in my opinion, must help Kogi out of its current predicament of leadership deficit. Kogi State under Governor Wada has experienced negative development with nothing to show despite the huge sums received monthly from the Federation Account and the share in oil ‘windfalls’ courtesy of the Excess Crude Account. If you consider the unusual turn-around and developments in state like Ekiti which is also among the states with the least federal allocation, you will but agree that Governor Wada has no reason to continue to hold the people of Kogi to ransom for leadership quest. A walk around Kogi will leave you wondering that all facilities put in place by the administration of Abubakar Audu (the Lugard House, Stadium, Hospitals and more) still remain the infrastructures Kogi can boast of. As my comrade in the state, Yahaya Wada puts it, “the forth coming governorship election in Kogi state has presented the platform for us to rewrite our future and the children yet unborn. This is the time to judge people by their words and actions not only by mere promises even when their past actions are antithetical to their words and promises.” Sadly, it is not unusual to see civil servants waiting at popular stop-points en-route Abuja to approach you calmly for momentary stomach infrastructure bail out. On spotting any vehicle suspected to be carrying an affluent personality who had stopped over to eat, the gentlemen would calmly approach you and reveal the critical state of their personal needs, asking for a little token to keep body and soul together. It is that bad in Kogi that many youth have no means of livelihood, a situation that has increased level of violence and criminality across the state. Beyond politics and struggle for political powers, the people must not be put in perpetual state of unhappiness. When families cannot access basic needs of life, the family institution begins to break down; accordingly the social security system comes under threat. Every citizen deserves rights to fair treatment by the people entrusted with political and leadership powers. If leadership is not fixed, the secondary effect of such situation is that passing through Kogi to

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Why Kogi must be rescued

Wada

Abubakar

Kogi State under governor Wada haS experienced negative development With nothing to ShoW deSpite the huge SumS received monthly from the

federation account

Abuja will continue to remain a nightmare and no one will confidently recommend historic confluence for a tourist outside Nigeria. The time to make all changes is now. The nation cannot wait. The people want change like yesterday. Carryover of depressions emanating from the misrule of yester years still has traces on the faces of our people. That Kogi must be salvaged and rescued is not an issue for debate. Let fresh air coming from the water front blow peace and tranquility that will not be saturated by bad policies from the Lugard house. Let the ‘Confluence State’ remain a meeting point for good economy, world class tourism and safe travel passage. The fish should also cost less in Kogi while seriousness of the State’s chief security officer should see a speedy conclusion of Lokoja-Abuja expressway with an international model. Above all, Kogi needs not be in opposition in time of change! Comrade Yahaya made revelation which I quote directly below:

“We may have waited for a long time to bring back Audu to rescue us, but it is better late than never. We may also have suffered various degrees of agonies, penury and all forms of degradation since the inception of PDP- led government in the state in 2003, but we now have a golden opportunity in our hands come November 21st 2015. There is no doubt that the forth coming governorship election in the state is a two man race between the incumbent Wada and the Prince of the Niger, the man I regarded as the face of modern Kogi state. It is one thing to make promises and another to fulfil them” He said further: “From the forgoing, it is evidently clear that Prince Audu kept to his promises by developing the state during his time as the then Governor of my beloved state. Today after 12 years of his exit as the Governor of the state, the successive governments have failed to take up from where Audu left.” Leadership is about delivering on promises. Words are powerful; our words are the mirror of our character and integrity. Well, the current situation does not leave the Kogites without a choice. A walk on the streets of Kogi leaves you cracking head as to why no significant development has been recorded since exit of the Kogi prince in 2003. Just wondering. Wada, under PDP as ruling party, had all equations in his favour to transform Kogi. Nigerians don’t have ample time for experimental leadership anymore as far as I know. A state going bankrupt with social-economic amenities on their knees can hardly survive under cluelessness. The spotlight is on Kogi right now. Without mincing words, that Audu/Faleke ticket will bring Kogi back to glory under the incorruptible Buhari government is a settled matter. Kogi must be delivered by Kogi because the state has sufficient men who have capacity to deliver this cause. In four years, Kogi must be playing host to all national interests and a hub for peoples’ confluence needs across the country. Olulade is a member of the Lagos State House of Assembly, representing Epe Constituency II

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Politics

Tuesday, November 3, 2015

Court declares constitution of caretaker committees in Delta LGs illegal amour udEmudE ASABA

mmediate past caretaker committee members of the 25 local government areas of Delta State Monday got a shocker of their life as the National Industrial Court sitting in Awka, Anambra state capital declared their constitution and appointment as illegal. The former caretaker committee members had dragged the Delta state government to the industrial court in Awka, the state capital of Anambra state over what they called the nonpayment of their entitlements among other benefits. The Delta state Counsel, Mr. Thomas Anigara had submitted that the caretaker committee members are not known to law and supporting his submission with relevant sections of the constitution, Anigara notes that section 7 sub section one of the constitution of the Federal Republic of Nigeria 1999 (as amended) provides that “the system of Local Government by democratically elected Local Government Council is under this constitution guaranteed and accordingly, the government of every State shall subject to section 8 of the constitution, ensure their existence under a law which provides for the establishment, structure, composition, finance and function of such councils”. Delivering his judgment on the issue, the presiding judge, Justice Waziri Abali maintained that the state counsel was right with all the relevant sections of the constitution cited and declared that the constitution of the caretaker committee

members and their appointments made in the council areas were illegal and unconstitutional and therefore struck out the suit. According to the judge, by virtue of the provisions of section one sub section one and three of the 1999 constitution, any law that is inconsistent with the constitution shall to the extent of its inconsistency be null and void, saying this position of the law was adopted in the case of NUT, Niger State vs Cosst. Niger State (2012) 10 NWLR (PT 1307) Pg 96 Ratio 4 and A.S.H.A vs TIJJANI (2012) 8 NWLR (PT 1303) Ratio I. Justice Abali also ruled that it was noted by the supreme Court in the case of Chigozie Eze and Ors vs Governor of Abia State & ORS (2014) LPELR 23276 (SC) PP 32-33 paragraph G-C, Per Aka-ahs JSC that ;… appointment of caretaker committee members in councils by State Governors in this country is not only illegal but highly undemocratic”. The judge further stressed that it is true that where the operations of the local government council fall outside the provision of section 7 sub section one of the 1999 constitution of Nigeria as(amended) no action flow from such illegal and unconstitutional operation. Responding to the ruling, the state counsel, Mr. Anigara thanked the judge for the ruling saying that it was in the right direction and would put to rest the controversy over the legality of the appointment of caretaker committee members in Council Areas of a State.

L-R: Wife of Edo State Governor, Mrs. Lara Oshiomhole; wife of Lagos State Governor, Mrs. Bolanle Ambode; C.E.O, Arise Women, Pastor Siju Iluyomade and Wife of the Vice President, Mrs. Dolapo Osinbajo, during the Annual Arise Women Conference 2015 at the Redeemed Christian Church of God, City of David Parish, Victoria Island, Lagos, on Saturday.

APC rejects tribunal ruling, to meet PDP at Appeal court Elo ogwara

he All Progressives’ Congress, APC in Delta state has rejected the tribunal judgment on the state’s gubernatorial poll petitions, describing the ruling as one illegally procured. In a statement signed by its state chairman, Prophet Jones Ode Erue, and circulated to journalists in Warri, the APC expressed surprise that despite glaring violations of the electoral process by the defendants, the tribunal still gave the PDP victory. The tribunal had last week ruled in favour of the People’s Democratic Party, PDP and the state governor, Dr. Ifeanyi Okowa.

APC which had petitioned the tribunal, alongside its governorship candidate, Olorogun O’tega Emerhor, further regarded the ruling as an injustice and expressed optimism that the court of appeal would do justice to the petition. Citing some conclusions of the tribunal, as quoted from the certified true copy of the judgement, the statement stated: “Justice Gummi delivered a judgement that can only be described as cunning, patronising and insulting to discerning legal minds. The judgement fed on deception, pretences and subterfuge. Generally, the panel pretended to uphold the core case of the petitioners but went ahead to

APC decries demolition of shops in Ondo ojo oyEwamidE AKURE

ndo state chapter of the All Progressives Congress, APC, yesterday condemned the demolition of shops in Akure, the state capital, by the state Ministry of Transport. The party described the action as callous and insensitive, saying it was aimed at sending traders out of business in order to pave way for the new

Akure Mall being promoted by the state Government. APC said the demolition exercise which was said to have been carried out at midnight on Saturday and Sunday, led to looting of goods worth over N100 million. According to the party, pains of the exercise were most felt along Kajola junction, Oda Road. In a statement by its Director of Media and Publicity, Steve Otaloro,

the party said it was appalling that the state government had not made any statement on the demolitions carried out in a gangster manner. It said: “This callous action of the Ondo State Government was most unfortunate and one meant to further increase the hardship currently being faced by the people living in the State. “We condemned outrightly the demolition of these containers and

the subsequent looting that ensued thereafter on wares of these traders by the officials of the state Ministry of Transports. “We therefore sympathise with the people affected by these daylight robbery by the Government officials. We, however enjoined them to continue to maintain the peace in the state and bear the present unfavourable hardship in doing business in Ondo State, through govern-

somersault against them. “This they did by wittingly and pretentiously accepting and ruling as follows; (a) That INEC has powers to make guidelines for the elections including the designation of Card Readers for mandatory use in the elections. (b) That the non use of card readers and/or non compliance with INEC guidelines is sufficient ground to prove non compliance with the Electoral Act which is a firm ground for cancellation of an election as is the plea of the petitioners. “Not stopping there, the panel dug deeper and went for the jugular of the petitioners’ case. The petitioners had through their star witness, Barr Ore Ohimor, testified and placed before

ment multiple taxation and other unfavourable Government policies targeted at businesses in the state. “One thing that is assured is that at the end of the dark tunnel will come the light. The wind of change that blew across the nation will also blow across our state very soon and we shall start to enjoy the dividends of democracy in Ondo State”, the party said.

the tribunal an analysis of over -voting being a comparison of card readers accreditations per polling units and form EC8A results from the same units. This analysis which was admitted as an exhibit showed over -voting in 1,847 polling units or 61% of the 3, 329 polling units across the 25 local government areas of the state as captured in the accreditation report. “Over voting in 61% of polling units? And what did the panel do? In order to help the respondents further, the panel dramatically decided to rule to expunge Barr Ohimor’s analysis from the tribunal proceedings. And why? That the fatal analysis was only front loaded with the reply of the petitioners to the respondents and ought to have been front loaded with the original petition. “As you can see from the foregoing, the petitioners lost the case to the panel and not Okowa and PDP, which is why they should be mindful of their celebration which shall be very short-lived. APC Delta state roundly rejects this evil judgement, which was clearly procured by means other than legal. Our legal teams already have our instructions and we will surely meet Okowa and PDP and test this robbery at the appeal court”.

Politics

ayo esan

he State of Osun House of Assembly has warned that it would not hesitate to sanction any personnel in the health sector found to be sabotaging the efforts of government. Chairman, House Committee on Health, Honourable Leke Ogunsola spoke at the inaugural meeting of his committee on Monday, saying, “the system in the health sector will no longer be business as usual”. He said the assembly would not witch hunt anybody in the course of performing its oversight

Tuesday, November 3, 2015

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Osun Assembly warns medical personnel on attitude to work function, but would ensure that things were done properly. According to him, the house would go all out and do everything possible to ensure that the people get the best in terms of healthcare delivery system. Noting that there have been complaints about the poor attitude of medical workers to patients, the Chairman House Committee on Health said anyone of them who was tired of

his service should resign honourably rather than take lives of the people for granted. “There have been complaints about the attitude of workers in the health sector and we are saying that it was no longer be business as usual, the attitude of everybody in the sector must change, because they are dealing with lives. “In the past, we felt we should be lenient, but we were taken for granted,

and now that we have learnt our lessons, we will be stricter, because what is paramount to us is the health of the generality of our people. “Some officials seem to be untouchable in the sector, but this time, it would be a thing of the past. If you know you are not ready to work, just take your leave” “We also understand that some health official refuse to go to rural areas when they are posted, but

now, that has to change; there is nowhere the government can’t post them to, because that is what they are being paid for”, he stressed. Ogunsola noted that the Assembly would ensure proper monitoring of health system in the state to ensure that the people get the best in terms of healthcare delivery system. He said the government was working to employ more doctors in the state

hospital. Members of the Committee, Honourable Ajibola Akinloye and Ayodeji Oyeniran called on the people to give appropriate information to the house on the attitude of the health officials in their areas. This, they said, would assist them to properly monitor the situation in the health sector and ensure effective healthcare service delivery.

Ortom urges civil servants to be prudent Henry Iyorkase MAKURDI

overnor Samuel Ortom of Benue State has predicted more severe economic hardship as he said Iran has discovered more crude oil wells and that this will further affect the downward price of oil. He therefore urged civil servants as well as Nigerians to be prudent in the management of their salary and incomes. Ortom made the disclosure yesterday while hosting Benue workers as well as members of the Nigeria Society of Engineers who paid him visits at the People’s House Makurdi noting that it may be difficult for the workers to again receive such huge amount as they receive through the bail out money for their arrears of salaries. He lamented the dwindling federal allocation to the state which he said has fallen to N2 billion in the month of October. “The federal allocation accruing to the state is going down as a result of fall in oil price. From August

Gov. Ortom

we received N3.2billion, September it was N2.6 billion and now what we received for the month of October was only N2 billion.” “But the state need N3.7 billion monthly to pay its workers so if you compare this with what we are receiving you will discover that it is grossly inadequate,” he noted. He said there was need for people of the state to engage in farming activities to diversify the economy, maintaining that with the continuous fall in oil prices, things will surely become really difficult if urgent steps are not taken. The Governor stated that he decided to bring an engineer into his administration as his deputy considering the challenge in the state which manifested in the deficit in infrastructure across the state. He pledge to partner with the engineers to bring about development in the state promising that he will reopen the divisional offices of the ministry of works to facilitate smooth operations at the local government levels.

L-R: Senator Adamu Aliero; Senate President Abubakar Bukola Saraki; Kebbi State Governor Atiku Bagudu and Senator Danjuma Goje, on arrival at Kebbi for wedding fatiha of Aliero’s daughter at the weekend.

2019: New PDP group emerges to regain power in Imo CHrIs njoku OWERRI

new group, “Coalition of True Imo PDP Democrats” has emerged in Imo State with a vision to wrestle power from the All Progressive Congress, APC in 2019 after its defeat in the April 2015 governorship election. The group, which was formally unveiled in Owerri is made up of men and women of PDP extraction bound together by commitment to enthroning good governance through the return of internal democracy to the affairs of a reformed PDP in the state. A chieftain of the party and erstwhile Chairman of Owerri Local Government Area, Chief Amaugo Ugoji in an address on the

occasion regretted that defection to rival political parties, sabotage, anti party activities, bad blood and losses in elections had become the bane of the party due to disregard to internal democracy. Ugoji, an architect was piqued that not only are the real owners of the party serially sidelined and stunted out at the ward, local government and state congresses, results that emanate from these basic civic engagement are glaringly compromised. “This cannot and should not be allowed to continue without our palling into irrelevance in a state we possess formidable electoral strength,” he warned. He said that the Coalition is neither an attempt to form a parallel PDP

platform nor to factionalize the party but a genuine attempt to reposition and to strengthen it for the future election. “The challenge before us today is that of collective and urgent action to live by the name and slogan of our party both in word and deed. We are determined to enthrone good governance in the state through the re-enactment of internal democracy and reigning of impunity must be removed in our party affairs”. Chairman of the occasion and two time governor of the State and former Minister of Trade and Industry, Chief Achike Udenwa commended the organizers of the ceremony for their vision, stating that the stage is set to restore the party to her lost

glory in the State. Udenwa who stressed the need for strict adherence to internal democracy noted that the party would only bounce back to prominence with the collective efforts of her members. “Let us put hands together and restore our party to what it used to be and by then whoever is interested in any elective position will be free to do so, so that people’s will, would prevail. The former governor similarly made it clear that the coalition was not a parallel PDP and would not indulged in any form of factionalization of the party, saying “for sometime now, internal democracy has eluded our party and this is the time to remedy the sad development”.

National Mirror www.nationalmirroronline.net

Capital Market

Tuesday, November 3, 2015

FG to raise N123bn in treasury bills …as equities shed 0.14%

Johnson okanlawon

ederal Government is to raise N122.95 billion in treasury bills with tenors ranging from three months to one year tomorrow. A notice on the Central Bank of Nigeria’s, CBN’s, website showed government would raise N45.17 billion in the 3-month bill, N23.43 billion in the 6-month and N54.35 billion in the 1-year, using the Dutch Auction System, DAS. Money market traders said yields on the paper were expected to be

lower than the returns at the last auction on October 21, when yields on the 3-month paper were 8.49 per cent, the 6-month debt attracted 10.15 per cent and the 1-year paper fetched 10.81 per cent. Expectation of lower yields was based on the prevailing returns on the secondary market and the high level of liquidity in the money market. Meanwhile, trading in equities continued on a negative note on the Nigerian Stock Exchange yesterday, as more investors sold their holdings. Specifically, the All

Share Index depreciated 0.14 per cent to close at 29,136.85 points, compared to the decline of 0.91 per cent recorded the preceding day to close at 29,177.72 points. Market capitalisation gained N14 billion to close at N10.013 trillion, compared to the depreciation of N93 billion recorded on Friday to close at N10.027 trillion. AIICO Insurance Plc led the gainers’ table with four kobo or 4.71 per cent to close at 89 kobo per share, followed by Flour Mills Plc with 89 kobo or 4.21 per cent to close at N22.05 per share. PZ Cussons Plc gained

99 kobo or 4,13 per cent to close at N24.99 per share, while Berger Paints Plc appreciated 33 kobo or 3.38 per cent to close at 10.10 per share. Conversely, Transnational Express Plc lost nine kobo or 7.89 per cent to close at N1.05 per share, while Livestock Plc shed eight kobo or five per cent to close at N1.52 per share. Unilever Plc dropped N1.93 or 4.99 per cent to close at N36.75 per share, while UACN Plc fell N1.32 or 4.98 per cent to close at N25.16 per share. A total of 308.1 million shares valued at N2.967 billion were traded in 2,886 deals.

Stanbic IBTC, FRC, NOTAP case for mention tomorrow Johnson okanlawon

suit filed by Stanbic IBTC Holdings Plc before a Federal High Court sitting in Lagos against the Financial Reporting Council, FRC, and National Office for Technology Acquisition and Promotion, NOTAP, will come up for mention tomorrow. The matter, which was scheduled for hearing yesterday did not hold as the presiding judge was unavailable.

Stanbic IBTC is contesting the powers of FRCN to impose a fine of N1 billion on it, among other sanctions announced by the body over alleged misrepresentation of Stanbic IBTC’s audited accounts for 2013 and 2014. The Mahtani brothers, owners of the Churchgate conglomerate, who are minority shareholders in Stanbic IBTC, had through surrogates reportedly petitioned the regulatory agencies in the financial services industry alleging misdeeds on the franchise fees

to be paid to Standard Bank. Standard Bank Group, the parent company of Stanbic IBTC Holdings Plc, has said FRC exceeded its powers when it ruled that Stanbic IBTC had made material misstatements in its financial accounts. Also, KPMG Professional Services, auditors to Stanbic IBTC, said that it is standing by the financial statements of Stanbic IBTC. “We wish to state categorically that KPMG does not agree with the decision taken by the FRC, as it does not re-

flect the true position in this matter. Our position is that the decision of the FRC is erroneous on its merits and the process that led to it, is significantly flawed and not in compliance with the requirements of the FRC Act. “We reassure all our stakeholders - clients, regulators, vendors, etc. that KPMG will take all necessary lawful steps to address this situation,” KPMG said. Justice Buba of the Federal High Court, Ikoyi, Lagos, will provide over the suit.

HSBC costs drop faster than revenue

SBC Holdings Plc, Europe’s largest lender, offset a drop in third-quarter revenue with lower costs and litigation charges, while saying it needs more time to determine whether to move its headquarters from London. Operating costs fell 19 percent to $9 billion from a year earlier, London-based HSBC stated on Monday. That beats the $9.4 billion estimate of 14 analysts in a company-compiled survey. Revenue slipped 4.4 percent to $15.1 billion, while pretax profit rose to $6.1 billion from $4.6 billion a year earlier. Chief Executive Officer Stuart Gulliver, 56, unveiled a three-year plan in June to pare back a sprawling global network, shut money-losing businesses and eliminate as many as 25,000 jobs after compliance costs surged. While other British lenders including Barclays Plc set aside more money for

past misconduct in the third quarter, HSBC benefited from a $1.4 billion decline in fines, settlements and redress for U.K. customers. “HSBC’s reassuring dullness shines through,” said Ian Gordon, an analyst at Investec Plc with a buy rating on the stock. “Revenue weakness was concentrated in retail banking and wealth management and the investment bank, but strong cost and impairment performances delivered a resilient result which, in a challenging quarter for U.K. banks, offers modest encouragement.” HSBC shares fell 0.8 percent to 503.80 pence at 11:09 a.m. in London. They have dropped about 17 percent this year after decreasing 8 percent in 2014. At the retail banking and wealth management division, adjusted pretax profit fell to $1.5 billion from $2.1 billion a year earlier. In global banking and markets,

which houses the investment bank, adjusted profit was little changed at $2 billion in that period. HSBC “will not accomplish positive jaws this year, due to lower revenue,” Finance Director Iain Mackay told analysts on a call on Monday. Jaws, the difference between the rate of revenue and cost growth, slipped to a negative 4.1 percent in the year’s first nine months from a negative 2.9 percent in the first half. HSBC still targets a positive measure over the longer run, according to Mackay. The bank, which has been generating most of its earnings in Asia, is assessing whether to move its headquarters away from London, partly because of increasing taxes and some of the strictest bank regulations in the world. Among the criteria listed as part of its assessment are also economic growth and long-

term stability. The board has requested “further information” and had questions about “fresh areas of interest,” Chairman Douglas Flint, 60, said on the analyst call. As a result, the bank may have to move the decision to 2016, instead of announcing it later this year, he said. 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 29,136.85 points Market capitalisation 10.01trn

Stock Updates GAINERS COMPANY

OPENING

CLOSING

CHANGE

% CHANGE

AIICO

0.85

0.89

0.04

4.71

FLOURMILL

21.16

22.05

0.89

4.21

24.00

24.99

0.99

4.13

BERGER

9.77

10.10

0.33

3.38

AIRSERVICE

1.81

1.87

0.06

3.31

GUARANTY

23.09

23.60

0.51

2.21

FCMB

1.96

2.00

0.04

2.04

ZENITHBANK

17.60

17.90

0.30

1.70

ETI

18.60

18.89

0.29

1.56

VITAFOAM

5.33

5.39

0.06

1.13

CHANGE

% CHANGE

LOSERS COMPANY

OPENING

CLOSING

TRANSEXPR

1.14

1.05

-0.09

-7.89

LIVESTOCK

1.60

1.52

-0.08

-5.00

UNILEVER

38.68

36.75

-1.93

-4.99

UACN

26.48

25.16

-1.32

-4.98

UBN

5.80

5.52

-0.28

-4.83

CUTIX

1.68

1.60

-0.08

-4.76

IKEJAHOTEL

3.58

3.41

-0.17

-4.75

HONYFLOUR

2.58

2.46

-0.12

-4.65

MANSARD

2.65

2.53

-0.12

-4.53

UNITYBNK

1.36

1.30

-0.06

-4.41

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

Capital Market

National Mirror www.nationalmirroronline.net

Tuesday, November 3, 2015

Stock exchange daily equities summary Daily Summary as of 02/11/2015

Equities as at November 2, 2015

Printed 02/11/2015 14:32:31.031

Daily Summary as of 02/11/2015 Printed 02/11/2015 14:32:31.031

Daily Summary (Bonds) No Debt Trading Activity

1st Tier Securities Sector

Company name

1st Tier Securities

Daily Summary (Equities)

No Of Deals

Quotation(N)

Quantity Traded

Value of Shares(N)

Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol OKOMUOIL PRESCO

No. of Deals 9 7 16

Current Price 29.02 30.50

Quantity Traded 54,100 19,320 73,420

Value Traded 1,619,864.00 606,966.40 2,226,830.40

Symbol LIVESTOCK

No. of Deals 14 14

Current Price 1.52

Quantity Traded 706,754 706,754

Value Traded 1,081,879.63 1,081,879.63

780,174

3,308,710.03

Quantity Traded 5,743,887 779,120 6,523,007

Value Traded 10,293,120.94 19,796,602.52 30,089,723.46

6,523,007

30,089,723.46

AGRICULTURE Totals CONGLOMERATES Diversified Industries Printed 02/11/2015 14:32:31.031 TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

Daily Summary as of 02/11/2015

CONGLOMERATES Totals

Symbol TRANSCORP UACN

No. of Deals 127 59 186

Daily Summary (Equities)

Current Price 1.80 25.16

186

CONSTRUCTION/REAL ESTATE Activity Summary on Board EQTY Building Structure/Completion/Other CONSTRUCTION/REAL ESTATE COSTAIN (W A) PLC. Building Structure/Completion/Other Published by The Nigerian Stock Exchange © Building Structure/Completion/Other Totals

Symbol COSTAIN Symbol

No. of Deals Current Price 8 0.50 No. of Deals Current Price 8

Quantity Traded 600,000 Quantity Traded 600,000Page

Value Traded 300,607.28 Value Traded 11 1 300,607.28 of

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

Symbol JBERGER

No. of Deals 10 10

Current Price 38.81

Quantity Traded 38,148 38,148

Value Traded 1,471,039.40 1,471,039.40

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

Symbol UAC-PROP

No. of Deals 12 12

Current Price 7.00

Quantity Traded 97,696 97,696

Value Traded 677,679.55 677,679.55

735,844

2,449,326.23

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Daily Summary as of 02/11/2015 Automobiles/Auto Parts Totals Printed 02/11/2015 14:32:31.031 Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Activity Summary on Board EQTY Beverages--Non-Alcoholic CONSUMER GOODS 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic

Symbol DUNLOP

No. of Deals 1 1

Current Price 0.50

Quantity Traded 871 871

Value Traded 435.50 435.50

No. of Deals 6 34 (Equities) 2 88 130

Current Price 4.35 123.75 16.00 136.50

Quantity Traded 190,500 172,934 8,250 2,651,025 3,022,709

Value Traded 788,670.00 21,396,810.50 129,960.00 360,858,798.19 383,174,238.69

Symbol 7UP Symbol

No. of Deals 16 No. of Deals

Current Price Current196.00 Price

Quantity Traded 13,883 Quantity Traded

Value Traded 2,666,265.77 Value Traded

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON

No. of Deals 21 33 66 7 25 152

Current Price 2.55 6.92 22.05 2.46 7.00

Quantity Traded 64,114 309,814 3,119,168 189,826 992,941 4,675,863

Value Traded 156,538.47 2,019,903.00 68,668,556.90 467,091.96 7,001,437.82 78,313,528.15

Symbol CADBURY NESTLE

No. of Deals 23 25 48

Current Price 20.15 821.00

Quantity Traded 115,136 143,200 258,336

Value Traded 2,317,923.92 118,023,986.97 120,341,910.89

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

Quantity Traded 2,437,535 2,437,535

Value Traded 12,477,422.88 12,477,422.88 Value Traded 6,558,342.30 Value Traded 9,307,253.75 2,666,265.77 15,865,596.05

Symbol CHAMPION GUINNESS Daily Summary INTBREW NB

Beverages--Non-Alcoholic Totals Published by The Nigerian Stock Exchange © Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC Food Products Totals Food Products--Diversified Daily Summary as of 02/11/2015 CADBURY NIGERIA PLC. Printed 02/11/2015 14:32:31.031 NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals

Food Products CONSUMER GOODS Totals DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG.Exchange PLC. Published by The Nigerian Stock © HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Daily Summary as Durables of 02/11/2015

VITAFOAM NIG PLC. Printed 02/11/2015 14:32:31.031 Household Durables Totals

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

5.39

Symbol PZ Symbol UNILEVER

No. of Deals 19 No. of Deals 17 16 36

Current Price 24.99 Current Price 36.75

Quantity Traded 269,650 Quantity Traded 253,245 13,883 522,895

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON

No. of Deals 429 21 33 66 7 25 152

Current Price 2.55 6.92 22.05 2.46 7.00

Quantity Traded 10,932,092 64,114 309,814 Page 3,119,168 189,826 992,941 4,675,863

467,091.96 7,001,437.82 78,313,528.15

Symbol CADBURY NESTLE

No. of Deals 23 25 48

Current Price 20.15 821.00

Quantity Traded 115,136 143,200 258,336

Value Traded 2,317,923.92 118,023,986.97 120,341,910.89

Symbol VITAFOAM

No. of Deals 46 46

Current Price 5.39

Quantity Traded 2,437,535 2,437,535

Value Traded 12,477,422.88 12,477,422.88

Symbol

No. of Deals 19 17 36

Current Price 24.99 36.75

Quantity Traded 269,650 253,245 522,895

Value Traded 6,558,342.30 9,307,253.75 15,865,596.05

10,932,092

612,839,397.93

PZ Summary (Equities) Daily UNILEVER

429

Value Traded 612,839,397.93 156,538.47 2,019,903.00 368,668,556.90 of 11

Symbol MBENEFIT NEM WAPIC

No. of Deals 2 21 1 54

Current Price 0.50 0.69 0.50

Quantity Traded 54,800 5,584,000 29,143 8,209,172

Value Traded 27,400.00 3,853,430.00 14,571.50 8,559,676.62

Symbol NPFMCRFBK

No. of Deals 7 7

Current Price 0.98

Quantity Traded Page 708,000 708,000

4Value Traded of 11 678,840.00 678,840.00

Symbol AFRIPRUD CUSTODYINS FCMB STANBIC UBCAP

No. of Deals 24 5 78 20 63 190

Current Price 2.63 4.20 2.00 18.91 1.29

Quantity Traded 263,575 28,500 5,249,966 62,104 4,509,580 10,113,725

Value Traded 697,851.86 122,435.00 10,394,996.59 1,172,752.47 5,917,034.65 18,305,070.57

173,000,814

820,398,271.12

Quantity Traded 200 35,538 3,360 117,980

Value Traded 116.00 117,718.50 125,066.50 136,793.60

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER

No. of Deals 1 4 5 6

Current Price 0.56 3.41 38.20 1.18

Page

Value of Shares(N)

Quantity Traded 157,078

Value Traded 379,694.60

157,078

379,694.60

Symbol CWG TRIPPLEG

No. of Deals 1 1 2

Current Price 2.67 1.69

Quantity Traded 5,000 1,260 6,260

Value Traded 12,700.00 2,028.60 14,728.60

Symbol ETRANZACT

No. of Deals 2 2

Current Price 2.84

Quantity Traded 9,000 9,000

Value Traded 24,300.00 24,300.00

15,260

39,028.60

Current Price 23.00 10.10 38.00 7.93 0.50 3.37 96.01

Quantity Traded 34,142 214,063 12,538 6,300 2,000 3,500 104,052

Value Traded 757,232.25 2,143,263.80 477,303.98 48,879.00 1,000.00 12,355.00 9,984,018.44

Symbol

No. of Deals 62

Current Price

Quantity Traded 376,595 Page

Value Traded 11 613,424,052.47 of

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

Symbol CUTIX

No. of Deals 1 1

Current Price 1.60

Quantity Traded 50,000 50,000

Value Traded 80,000.00 80,000.00

Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals

Symbol BETAGLAS

No. of Deals 3 3

Current Price 46.20

Quantity Traded 2,134 2,134

Value Traded 93,661.26 93,661.26

428,729

13,597,713.73

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. Activity Summary on Board TOTAL NIGERIA PLC. EQTY Petroleum and Petroleum Products Distributors Totals OIL AND GAS Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration andStock Production Totals Published by The Nigerian Exchange ©

Symbol ASHAKACEM BERGER Daily Summary CAP CCNN IPWA PORTPAINT WAPCO

Symbol OANDO

No. of Deals 203 203

Current Price 5.99

Quantity Traded 16,425,962 16,425,962

Value Traded 98,206,441.50 98,206,441.50

Symbol CONOIL

No. of Deals 2 6 51 1 4 64

Current Price 27.41 1.55 290.00 154.00 150.01

Quantity Traded 1,100 93,000 161,750 120 2,078 258,048

Value Traded 28,644.00 143,950.00 45,988,676.44 17,556.00 299,681.40 46,478,507.84

No. of Deals 1 1

Current Price 230.04

Quantity Traded 186 Page 186

ETERNA Daily Summary (Equities) FO MOBIL TOTAL

Symbol SEPLAT

268

Value Traded 44,082.00 of 11 44,082.00

16,684,196

144,729,031.34

Symbol REDSTAREX TRANSEXPR

No. of Deals 12 5 17

Current Price 4.20 1.05

Quantity Traded 965,000 137,000 1,102,000

Value Traded 4,044,700.00 150,900.00 4,195,600.00

Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL

No. of Deals 2 2

Current Price 3.41

Quantity Traded 51,000 51,000

Value Traded 173,910.00 173,910.00

Printing/Publishing

Symbol ACADEMY LEARNAFRCA

No. of Deals 2 10 12

Current Price 0.59 0.65

Quantity Traded 57,000 844,909 901,909

Value Traded 32,490.00 546,200.85 578,690.85

Symbol

No. of Deals 2 2

Current Price 0.50

Quantity Traded 3,010 3,010

Value Traded 1,505.00 1,505.00

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

ABCTRANS Daily Summary (Equities)

Activity Summary on Services Board EQTY Transport-Related Daily Summary as of 02/11/2015 AIRLINE SERVICES AND LOGISTICS PLC Printed 02/11/2015 SERVICES 14:32:31.031

Symbol AIRSERVICE

No. of Deals 14

Current Price 1.87

Quantity Traded 562,200

Value Traded 1,110,709.00

Transport-Related Published by The Nigerian StockServices Exchange © NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol NAHCO

No. of Deals 27 41

Current Price 4.05

Quantity Traded Page 487,250 1,049,450

8Value Traded of 11 2,000,622.27 3,111,331.27

OIL AND AND GAS GAS Totals OIL OILPetroleum AND GAS and Petroleum Products Distributors Petroleum and Petroleum Products Distributors ASeM Board Totals CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals

Value Traded 353,120.98 408,688.78 100,000.00 13,980.00 3,788,485.36

Current Price

Daily Summary (Equities)

CAPOIL

Symbol Symbol CAPOIL

Daily Summary

OIL AND GAS Totals

FINANCIAL ASeM BoardSERVICES Totals Banking ZENITH INTERNATIONAL BANK PLC Banking Totals

Activity Summary on Board PREMIUM

Other Financial Institutions FINANCIAL SERVICESPLC FBN HOLDINGS Banking Other Institutions Totals Published by The Financial Nigerian Stock Exchange © ZENITH INTERNATIONAL BANK PLC FINANCIAL SERVICES Totals Banking Totals Daily Summary as of 02/11/2015 Printed 02/11/2015 14:32:31.031 INDUSTRIAL GOODS Other Financial Institutions Building Materials PLC FBN HOLDINGS DANGOTE CEMENT PLC Totals Other Financial Institutions FINANCIAL SERVICES Totals Published by The Nigerian Stock Exchange © INDUSTRIAL GOODS Activity Summary on Board PREMIUM

Building Materials INDUSTRIAL GOODS DANGOTE CEMENT PLC Building Materials Building Materials Totals Published by The Nigerian Stock Exchange ©

1,635,891,934.16

0.50

Value Traded 250.00 250.00

Current Price Current Price 0.50

500 Quantity Traded Quantity Traded 500 500 500

250.00 Value Traded Value Traded 250.00 250.00 250.00

500

250.00

Activity Summary on Board PREMIUM

8,061,037.12

212,364,563

1 1

1 No. of Deals No. of Deals 11 (Equities) 1

3,107,369

Quantity Traded 500 500

2,192

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

Activity Summary on Board ASeM

Value Traded 11 343,985,958.25 of 1,276,089.10 97,920,963.62 5,884,704.09 219,035,366.06 7,509,296.91 3,942,646.62 408,737,215.58 1,990,278.98 1,405,428.70 1,166,736.02 792,854,683.93

Quantity Traded

No. of Deals 16 9 (Equities) 9 4 1 1 22

OIL AND GAS Petroleum and Petroleum Products Distributors CAPITAL OIL PLC Activity Summary on BoardProducts ASeM Distributors Totals Petroleum and Petroleum

Quantity Traded 397,396 419,361 200,000 27,960 1,496,512

1,089

No. of Deals 16

Activity Summary on Board ASeM EQTY Board Totals

Current Price 0.89 1.00 0.50 0.50 2.53

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC.

ICT Totals Daily Summary as of 02/11/2015 INDUSTRIAL GOODS Printed 02/11/2015 14:32:31.031 Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC IPWA PLC Activity Summary on Board EQTY PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. INDUSTRIAL GOODS

Daily Summary as of 02/11/2015 SERVICES Totals Printed 02/11/2015 14:32:31.031

No. of Deals 6 (Equities) 6 1 1 16

FINANCIAL SERVICES Totals

Processing Systems E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

ACADEMY PRESS PLC. Daily Summary as of 02/11/2015 LEARN AFRICA PLC Printed 02/11/2015 14:32:31.031 Printing/Publishing Totals

Insurance Carriers, Brokers and Services Symbol AIICO INSURANCE PLC. AIICO Daily Summary CONTINENTAL REINSURANCE PLC CONTINSURE INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS Activity Summary on Board EQTY LASACO ASSURANCE PLC. LASACO AXAMANSARD INSURANCE PLC MANSARD FINANCIAL SERVICES

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

ICT IT Services COMPUTER WAREHOUSE GROUP PLC TRIPPLE GEE AND COMPANY PLC. IT Services Totals

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

Quantity Traded Page 9,523,882

Symbol

Quotation(N)

OIL AND GAS Totals

Current Price 4.60 2.51 18.89 1.42 23.60 1.95 2.05 3.49 5.52 1.30 0.94

Insurance Carriers, Brokers and Services MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

No Of Deals

HEALTHCARE Totals

OIL AND GAS Integrated Oil and Gas Services OANDO PLC Daily Summary as of 02/11/2015 Integrated Oil and Gas Services Totals Printed 02/11/2015 14:32:31.031

No. of Deals 168 25 32 40 159 67 102 168 36 21 20 838

504,934 5,224,314 4,220,602 9,279,049 3,736,685 1,987,637 116,823,681 357,251 1,081,099 1,230,783 153,969,917

Daily Summary (Equities)

INDUSTRIAL GOODS Totals

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

DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY PLC Daily Summary as ofBANK 02/11/2015 WEMA BANK PLC. Printed 02/11/2015 14:32:31.031 Banking Totals

HEALTHCARE Pharmaceuticals Pharmaceuticals Totals

2,666,265.77 11 of

46 46

Activity Summary on Board EQTY CONSUMER GOODS Totals FINANCIAL SERVICES Banking Published by The Nigerian Stock Exchange © ACCESS BANK PLC.

VITAFOAM

Activity Summary on Board EQTY Personal/Household Products CONSUMER GOODS P Z CUSSONS NIGERIA PLC. Beverages--Non-Alcoholic UNILEVER NIGERIA PLC. Beverages--Non-Alcoholic Totals Personal/Household Products Totals

13,883 Page

on Board Sector Activity Summary Company nameEQTY

500

250.00

Symbol ZENITHBANK

No. of Deals 139 139

Current Price 17.90

Quantity Traded 63,474,584 63,474,584

Value Traded 1,117,653,644.28 1,117,653,644.28

Symbol FBNH Symbol ZENITHBANK

No. of Deals 529 No. of Deals 529 139 668 139

Current Price 5.04 Current Price 17.90

Quantity Traded 31,957,103 Quantity Traded 31,957,103 Page 63,474,584 95,431,687 63,474,584

Value Traded 160,892,538.38 160,892,538.38 9Value Traded of 11 1,117,653,644.28 1,278,546,182.66 1,117,653,644.28

Symbol Symbol FBNH DANGCEM

No. of Deals No. of Deals 529 25 529

Current Price Current Price 5.04 162.00

Quantity Traded Quantity Traded 31,957,103 325,307 31,957,103

Daily Summary (Equities)

Symbol DANGCEM Symbol

668

No. of Deals 25 No. of Deals 25

INDUSTRIAL GOODS Totals

Current Price 162.00 Current Price

95,431,687 Page

1,278,546,182.66 10 of 11

Quantity Traded 325,307 Quantity Traded 325,307 Page

Value Traded 53,003,864.60 Value Traded 53,003,864.60 10 of 11

PREMIUM Board Totals Equity Activity Totals

Value Traded Value Traded 160,892,538.38 53,003,864.60 160,892,538.38

325,307

53,003,864.60

693

95,756,994

1,331,550,047.26

2,886

308,122,057

2,967,442,231.42

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

Symbol LOTUSHAL15 NEWGOLD VETBANK VETGOODS VETGRIF30 VETINDETF

No. of Deals 3 1 1 1 1 1 8

Current Price 9.37 2,184.00 3.10 7.44 13.30 20.97

Quantity Traded 3,920 53 10 10 10 10 4,013

Value Traded 37,180.50 115,752.00 31.00 74.40 133.00 209.70 153,380.60

153,380.60

ETF Board Totals

4,013

ETP Activity Totals

4,013

Page

153,380.60 11

National Mirror www.nationalmirroronline.net

North

Tuesday, November 3, 2015

Body of drowned Unilorin student recovered WOLE ADEDEJI ILORIN

Participants at the capacity development for M.B.B.S academic staff in Nigerian universities, in Abuja, yesterday.

Unpaid salaries: Nasarawa workers begin 3-day warning strike

asarawa State Joint Unions of Local Government Employees, JULGE, on Monday commenced a three-day warning strike over unpaid salaries of members. The state’s president of Nigeria Union of Local Government Employees, NULGE, Mr Abdullahi Adeka, told newsmen in Lafia that the workers were being owed two

months’ salary arrears by the state government. The News Agency of Nigeria, NAN, reports that the state chapters of NULGE, Nigeria Union of Teachers, NUT, and Medical and Health Workers’ Union of Nigeria, MHWUN, joined the strike. Adeka said the government had not paid their August and September salaries. “Apart from the two

months salaries, workers at the local government level in the state have been receiving half salaries for the past four months. “The government has left us with no other option than to embark on this warning strike to press home our demands,” he added. He said the union had made several appeals to the government to pay the outstanding salaries, but

to no avail. According to Adeka, payment of salaries in percentages and non-payment of salaries in the last two months has brought untold hardships to the workers. He, however, indicated that the union would decide on the next line of action at the expiration of the three-day warning strike if nothing was done.

Kogi workers yet to comply with NLC/TUC directive

ivil servants in Kogi State are yet to fully comply with the directive of the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, to stay off work from November 2. When the News Agency of Nigeria, NAN, monitored the level of compliance in Lokoja on Monday, some of the workers were seen milling around their offices, while others discussed the development in low tones. Some of the civil servants told NAN at the state secretariat that they were in their offices to monitor how effective the directive would be. One of the workers, Mrs Temitope Asaju, noted that the directive was “quite good’’ as they were owed over eight months arrears of salaries. “I came to the office today to be sure that the directive was being effectively adhered to by the workers,’’ she said. In his reaction, another

civil servant, Mr Solomon Adaji, noted that from tomorrow, no worker would be seen at any government office, unless the bailout funds for Kogi State were released. He urged the Federal Government not to play politics with the plight and yearnings of publicsector employees in the state. Mr Ismail Abubakar, who said he was in the office to monitor workers’ compliance with the directive, said he was happy that most workers complied with the ‘stay off work order’. Also commenting on the development, Mr Lawal Ohara, who works with the Ministry of Lands, said that there would be no work henceforth, unless the bail-out was paid. He, however, expressed the hope that before the end of week, the Federal Government would have released the bail-out funds to the state government.

The state chapters of the two apex national labour unions gave the directive to Kogi public sector employees at the

weekend that they should stay away from their offices, until the bail-out funds were released to the state government.

he body of a 200 level Social Science Education Student of the University of Ilorin, who reportedly drowned in a river on the institution’s campus at the weekend, was found on Monday. A statement by Deputy Director, Corporate Affairs of the university, Mr. Kunle Akogun, on Monday said the body was recovered by a combined team of local divers, fire fighters and the security department of the institution after frantic search in the river located behind the park of the institution. He added that the late student, Michael Onikeku, was a member of the Man O’ War Club, who had rendered tremendous service to the university as well as his fellow individual students, who needed his help even when it was not convenient for him. Akogun in the statement conveyed the commiseration of the university to the family of the deceased, “The management of the University of Ilorin has commiserated with the family of the late Michael Onikeku, a member of Man O’ War Club in the University of Ilorin, who died on

Saturday. “This condolence message was sent by the Deputy Vice-Chancellor Academics, Professor Sidikat Ijaya, who said that rescue efforts were coordinated by the management with local divers, Unilorin Fire Services and other related agencies that swung into actions immediately after the report of the incident came to the management’s notice. Professor Ijaya, described Michael’s death as a great loss to the university community describing him as a gentle, responsive and responsible student who believed in working for humanity. The university spokesman said among those that received the remains of Michael were the Deputy Vice-Chancellor Research Technology and Innovation, Professor Gabriel Olatunji, wife of the Vice-Chancellor, Dr. Taye Ambali; the Dean Students Affairs, Professor Omoteso; the Chief Security Officer of the university, Mr. I. M. Tijani and the Director COMSIT, Professor Musa Isiyaku Ahmed among others The remains of the student had been deposited at the University’s of Ilorin Teaching Hospital, UITH, mortuary for autopsy.

Six filling stations shut in Minna over cheating PRISCILLA DENNIS MINNA

epartment of Petroleum Resources, DPR, has shut six fuel stations in Minna, Niger State capital, belonging to independent marketers for allegedly violating the regulated pump price of petroleum product. State DPR Controller, Engr Abdullahi Jankara, who stated this after sealing the filling stations, told journalists that any marketer not prepared to abide by laid down guidelines and procedure should quit and go into other business as the era of illegality is over. “As it is, some filling

stations in Minna are not selling petroleum product at government approved price, while those who claim to be selling at approved price have adjusted their pump. DPR will comb every nooks and crannies of the state to ensure that stations are selling at government approved price. The era of illegality is gone.” He explained that the move was in line with Federal Government effort to effect change in the system and to make petroleum products accessible and affordable to the people, especially through collaboration with security agencies

in the state to ensure business is conduct with the laid down guidelines. The Zonal Financial Secretary of Independent Petroleum Marketers Association of Nigeria, Mohammed Lukman, reacting to the development, explained that the independent oil marketers in the state were not out to sabotage government policy. He said, “ We buy from private deports who sell the product to us between the rates of N87 and N89. This problem is not peculiar to Niger State alone, it is all over. We appeal to government to ensure most government approved depots have the products, that way; we can sell at approved price. If

not, we have to close shop as we cannot do business at a lost.” As a result of the development, currently most independent oil marketers in Minna have closed shop claiming that they bought the products from private depots having failed to secure it from government approved depots. One of the independent oil marketer , who was affected by the move of DPR in the state lamented that his station was sealed because, he sold the product beyond N87, the approved price with a difference of N3, which he noted was not his fault.

National Mirror National Mirror Tuesday, 4, November 3, 2015 47 Tuesday, February 2014 www.nationalmirroronline.net www.nationalmirroronline.net

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

osAhon Julius, YENAGOA

midst lamentations of paucity of fund to run government and complete the numerous project scattered across the state occasioned by the sharp drop in revenues, the Bayelsa State Government at the weekend commenced the disbursement of soft loans totalling N100million to Christian cooperative groups in the state. This is coming just as the state Governor, Hon. Seriake Dickson reassured workers of his commitment to the payment of their salaries even though only about N4billion came into the coffers of the state as revenue from the Federation Accounts Allocation Committee (FAAC) for this month. While lamenting the harsh economic realities facing the state and the entire country, he however assured that government would commence payment of salaries next week. Presenting the cheques to the cooperatives at an interactive meeting with Christian leaders in Yenagoa , Hon. Dickson explained that the gesture was in fulfilment of an earlier promise to extend his administration’s poverty alleviation and economic empowerment programme to churches, and urged beneficiaries of the scheme to make judicious use of the revolving funds to enable other Bayelsans benefit. Some of the benefitting cooperatives include Bayelsa Indigenous Ministers Fellowship Micro Project Cooperative Society (MPCS), N3million; Gold Chain MPCS – N3.5million; Salvation Elders Farmers Cooperative Society Limited – N3million; ECWA Family MPCS -N3.5million and Women Wing of Christian Association of Nigeria (WOWI-

Dickson doles out N100m soft loans to cooperative groups

s part of measures to empowering the community and teeming youths in order to be financially independent, the Assemblies of God Nigeria, Ebenezer parish, Badagry district has concluded plans to economically empower its members and non-members. This would be coming along side its convention scheduled to commence on Thursday November 5. Addressing a press conference recently in Lagos the District Superintendent, DS Rev. Dr. Henry

kemi olAitAn, IBADAN

L-R: Director-General, Prince Charles Offokaja Foundation, Prince Charles Offokaja; Chairman, African Refugees Foundation (AREF), Mr. Jimi Olusola; National Coordinator, Civic Enlightenment Association of Nigeria, Dr. Remi Aroyehun and Project Manager, Mr. Oyeyipo Yahaya, during a media briefing on the organisation’s position on government war against corruption in banking and finance sector, in Lagos, yesterday.

CAN), Yenagoa branch and Agricultural Cooperation Society – N3.5million. Responding to questions, the Governor acknowledged the support and prayers of the various clergy and churches and assured them of closer working relationship if re-elected for second tenure. He therefore called on them to mobilise their members to come out en masse to vote for the Peoples Democratic Party without any fear of molestation as adequate security would be on ground to protect every law abiding voter.

The Governor also used the opportunity to highlight some achievements of his administration within its first two years in office when the allocation hovered between N15billion and N17billion, which include construction of the three senatorial roads, adding that with the state government’s intervention, “people can now drive to places like Nembe that was inaccessible by road. According to the Governor, sand-filling of the Bayelsa West Senatorial Road has reached advanced stage and will hit Ekeremor by the end of December

this year, while the first flyover in the state would be inaugurated and put to use within November. He assured people of the state of his commitment to consolidating on the gains already recorded and open more frontiers of development by completing the Cargo Airport Projects as well as commence the process of constructing the Nembe – Brass Road if voted in for a second term. Commenting on the recent killing of a Pastor in Yenagoa, Governor Dickson urged the clergymen to be rest assured as government was on top of the situation.

Assemblies of God to empower congregation, community RobeRt Awokuse

Soun urges youths to shun cultism, other vices

Ogbonnaya said that the church apart from its primary spiritual responsibility should also economically empower its congregation and by extension, the community which would enable them to tower above the present economic challenges facing the country. “Apart from spiritual benefits, professionals in different areas of study are invited from time to time to inform, educate and empower participants on how to be on top of the present economic situation in the country. “Ebenezer is a place where all resource person, conducive spiritual environment and high

powered and technically ordered programs are made available to members and non members alike. “It is the church belief that empowering the citizens should not be left in the hands of the government alone. We believe churches should take it upon themselves to educate and empower their congregation. The DS expressed optimism that the country would become a better place if the citizenry are piritually and financially equipped. “The church is of the view that both spiritual and economical empowerment of Nigerians will lead to a turnaround in our way of

lives which will ultimately ensure a better Nigeria.” He further tasked the church to intensify prayers for the government in order to fulfill its obligations to the people. Assistant District Superintendent Rev Dr John Ikpe while fielding questions from journalists on the state of the nation enjoined the government to evenly distribute the country’s resources to the benefits of the citizenry. He however stressed that the church would continue to play its fundamental role in giving spiritual guardians and guidelines to the government to meet the needs of the people.

oun of Ogbomoso, Oba Jimoh Oyewumi Ajagungbade 111, has urged youths in the country, to shun vices such as cultism and political violence so that they could have a resourceful and excellent future careers. The monarch who is the Chairman, Board of Trustees of the Oyo State Scout Council, gave the advice at Loyola College, Ibadan, during the grand finale of the celebration of the 100 years of Scouting in Nigeria with the theme: “Live and help live”. Also at the event was the Founder, Spiritual Head and Chief Imam, Sharafadeen in Islam Worldwide, Prof. Sabitu Olagoke, who delivered a lecture entitled, “Youth and Challenges of Cultism”. Represented by Scouter Olatunde Olatunji, the Soun, who was the royal father of the day, said Scout organisation, was put in place to shape the lives of the youth to become responsible adults in the society. He then admonished youth in the country “to shun cultism and other anti-social acts which are capable of truncating your future ambitions.” “Do not allow yourselves to be used by politicians for thuggery and political brigandage which could cut your life short and turn you to criminals. “Follow the tenets of the scout organization and the rules enshrined in the shaping of your character. It is by doing this that the objective of this training exercise can be achieved”, he said. Olagoke in his lecture, said scouting which had been in practice since 1915 in Nigeria, has been very effective in moulding the character and life style of many youths, but lamented that activities of some youth who engage in occultism in many academic institutions have limited the impacts of scouting in the life of youths of the country. He identified parental and home background, peer group influence as well as inadequate religious and moral education as some of the causes of cultism in the country. “Many youth join cultism in search of responsibility, satisfaction of aspirations and needs, search for security, social identity, and by so possess illegal firearms, engage in drug abuse, violent crimes like armed robbery, and illicit serial escapades”, he said.

National Mirror www.nationalmirroronline.net

Tuesday, November 3, 2015

Tuesday, February 4, 2014

We have not faced any challenge that we cannot surmount as humanly as possible. That is a fact! –SYRIAN PRESIDENT, BASHAR AL-ASSAD

WITH AGENCY REPORT

our South African police officers have been arrested on murder charges after a video emerged allegedly showing them shooting dead a suspected robber. The video appeared to show the suspect drop his pistol and fall to the ground before showing a policeman shooting him at close range, before a colleague runs over and kicks him. In August eight policemen were convicted of murder after a bystander filmed them tying a taxi driver to the back of their van and driving away. Both incidents happened near Johannesburg. Police attention was brought to the most recent incident after South Africa’s Sunday Times newspaper published the CCTV footage. According to the Sunday Times, the suspect attempted to rob a hardware shop in Krugerdorp, west of Johannesburg on October 19. The newspaper said the police, acting on a tip-off, were waiting nearby and after the suspect left the shop he fired shots at the police van. It quoted the spokesman for the Independent Police Investigative Directorate, Robbie Raburabu, as saying the post mortem showed shots to the head, chest and arm.

Video shoot exposes SA cop killers

Footage of the shooting as recorded by South Africa’s Sunday Times

Zim embassies deep in debts

roblems at foreign affairs are far from over as it has emerged that government is still failing to pay rent and other costs with over $40 million needed to settle debts at its embassies. Reports said yesterday Zim-

babwe has yet to pay its 2015 annual subscription to the African Union despite President Robert Mugabe being the organisation’s chair. Last week, the parliamentary portfolio committee on foreign affairs heard that Zim-

Tanzania extends Zanzibar president’s term

anzibar President, Ali Mohamed Shein, has had his term extended after elections on the semi-autonomous Tanzanian archipelago were cancelled last week by the electoral chief, citing fraud. Shein’s term in office was due to expire yesterday. He was seeking re-election as the ruling CCM’s candidate; his rival Seif Sharif Hamad has declared himself the winner of the October 25 vote. Meanwhile, Tanzania’s outgoing president, Jakaya Kikwete, says he is mediating to find a peaceful outcome. Previous elections on Zanzibar, a popular tourist destination, have been marred by riots and violence. The opposition Ukawa candidate, Hamad, asked his supporters to remain calm and observe peace yesterday as diplomatic efforts reportedly went well.

51 47

World News

Russian plane crash ‘caused by external force’

AfolAbi GAmbAri

National Mirror www.nationalmirroronline.net

International observers said the nationwide elections were largely free and fair, but all groups raised concerns over the subsequent annulment of

Zanzibari President Ali Mohamed Ahein

Zanzibar’s local elections. Governing CCM party candidate, John Magufuli, won the national presidential election with 58 per cent of the vote.

babwe is still not paying rent at most of its 45 embassies around the globe with more than $40 million needed to settle the debts. Acting Secretary for Foreign Affairs, David Hamadziripi, reportedly told the committee that all rented premises were in arrears, with a number of missions in receipt of eviction notices. “Our officials are regularly summoned by the ministries of foreign affairs in host countries to explain issues relating to default in payment of rent and other obligations,” Hamadziripi added. Diplomats said in some situations the Salary Services Bureau had begun to pay salaries directly into their Zimbabwean accounts which they access from their host countries through master cards. The continued non-payment of rentals and diplomatic allowances comes at a time when President Mugabe is spending millions travelling the globe. Government admits it is struggling for money as tax revenues have been hit by the 80 percent-plus unemployment rate and the closure of hundreds of companies.

AFRICAN BULLETIN

MTN restores ‘normal businesses’ Share trading in MTN, Africa’s biggest mobile operator, has restarted after earlier being suspended following a huge fine imposed by Nigerian authorities. Trading in MTN Group was halted in Johannesburg after the stock fell 8 per cent. Dealings later started again after the company said it was in talks with Nigerian authorities about reducing the record $5.2bn (£2.7bn) fine. The Nigerian Communications Commission imposed the penalty for failing to cut off unregistered mobile users, giving MTN just two weeks to pay. The company said yesterday that it was in talks with the Nigerian presidency, internal security agency and the communications regulator about the fine. The fine was imposed because MTN failed to cut off unregistered SIM cards, which was regarded as crucial to limiting the communications of Nigeria’s various armed criminal and terrorist groups. It is thought that the kidnapping of a former finance minister, Chief Olu Falae, was the thin end of the wedge for the Nigerian authorities. He was taken by armed men at the end of the September. It transpired that the phone the kidnappers were using to communicate their ransom demands had an unregistered SIM card from MTN.

Scammers pose as anti-fraud bankers Central Bank of Nigeria yesterday warned that fraudsters are taking advantage of a major crackdown on fake bank accounts. Customers had until the end of October to register their fingerprints and photographs at their local bank. The bank said messages claiming to help reactivate registration are fraudulent and actually trying to get people’s personal information. Huge sums are allegedly stolen from Nigerian banks as a result of forgery and illegal withdrawals. Customers who registered were given a Bank Verification Number (BVN) to use at cash machines, and for online and mobile transactions. Banks are using the verification number along with customers’ biometric information to check they are genuine. Potentially millions of people could now be blocked from these services as less than half of Nigeria’s 52 million bank account holders had registered on Friday, according to CBN spokesman Ibrahim Mu’azu who released a statement yesterday saying that “unscrupulous individuals” are trying to get people to reveal their personal details to use to defraud them.

World News

he only reasonable explanation for the crash of a Russian passenger jet in Egypt is an external influence, an executive from the airline that operated the flight said yesterday, stressing that planes do not just break apart in midair. Kogalymavia Flight 9268 broke into pieces before it hit the ground in a remote area of Egypt’s restive Sinai Peninsula on Saturday, killing all 224 people on board. The executive was not specific about what he meant by an external influence. Experts say it is too early to know for certain what caused the plane to break up at the start of what could be a lengthy investigation. The state-run Russian news agency Sputniknews.com reported that the head of Rosaviatsia, the Russian Federal Air Transport Agency, had told Rossiya-25 television that claims that external factors could have caused the crash were not based in fact. “It is completely premature to speak about the reasons of this, as there are not grounds. And I’d like to call on the aviation community to refrain from any premature conclusions,” the agency chief, Alexander Neradko, was quoted as telling the station. It was however suggested that the Kogalymavia official could have meant something abnormal and out of the ordinary had occurred. “We exclude technical prob-

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

Russian plane crash ‘caused by external force’

Trump upbraids DNC woman Republican presidential hopeful, Donald Trump, yesterday knocked the chairwoman of the Democratic National Committee, Debbie Wasserman Schultz, as a highly neurotic woman. Trump criticized the debate process of his own party speaking with Breitbart News on Siriux XM radio, before he leveled personal barbs at the Schultz “This is a woman that is a terrible person,” Trump said. The DNC fired back, accusing Trump of making misogynistic attacks. “The Republican front-runner’s misogynistic attacks are sadly representative of the GOP’s outdated approach to women and the issues that affect them and their families,” DNC spokeswoman, Kaylie Hanson, said. “Whether it’s trying to get between them and their doctor, opposing equal pay for equal work, or using offensive language, the Republican Party is wrong for women,” she added.

Drugs: Lebanon charges Saudi prince

The ill-fated Russian jetliner at the crash site

lems and reject human error,” the Kogalymavia airline official, Alexander Smirnov, said at a Moscow news conference yesterday as he discussed possible causes of the crash. He added that the crew did not issue any warnings or com-

munications during the final moments, indicating that the flight crew must have been disabled and not able to radio out. However, Smirnov said that while the plane’s flight and voice data recorders had been recovered, they had not been

read or decoded. Officials have played down an apparent claim by Islamic militants in Sinai that they brought down the Airbus A321200, saying technical failure is the most likely reason for the crash.

World must respect Turkish election –Erdogan urkish President, Recep Tayyip Erdogan, said yesterday that the world must respect the results of the Sunday election, which saw the ruling Justice and Development Party (AKP) regain its parliamentary majority. Erdogan said voters had chosen stability following unrest. With almost all ballots counted, state-run Anadolu news agency said the AKP had won 49.4 per cent of the vote, with the main opposition CHP on 25.4 per cent. European observers have criticised the government for stifling media freedom. The Organisation for Security and Cooperation in Europe (OSCE) said violence, especially in the country’s south-east, had also had a significant impact on the election. Meanwhile, the Parliamentary Assembly of the Council of Europe (PACE) went further and denounced the entire process as unfair.

WORLD BULLETIN

“The national will manifested itself on 1 November in favour of stability,” the president said, adding, “Now a party with some 50 per cent in Turkey has attained power but I have not seen such maturity.”

President Recep Tayyip Erdogan

Prime Minister Ahmet Davutoglu will now begin the process of forming a new government. Erdogan called the second general election this year after his AKP lost its parliamentary majority for the first time in 13

years in June and attempts to form a coalition failed. The pro-Kurdish HDP crossed the 10 per cent threshold needed to claim seats in parliament, but it got 21 fewer MPs than in June’s election. The nationalist MHP’s share of the vote also declined, to 11.9 per cent, and commentators suggested it had lost voters to the AKP. However, the AKP fell short of the number of seats needed to call a referendum on changing the constitution and increasing the powers of the president Clashes were reported in the mainly Kurdish city of Diyarbakir, in the south-east of Turkey, as the results were being counted. Reuters said police had fired tear gas at protesters throwing stones. Since elections in June, a ceasefire between the Turkish army and militants from the Kurdistan Workers Party (PKK) has collapsed.

Prosecutors in Lebanon have charged a Saudi prince and nine other people with drug smuggling, a week after a record seizure at Beirut’s airport. The prince was not named, but he and four other Saudis were arrested after two tonnes of Captagon pills were found in cases being loaded on a private jet. The others charged in the case, three Lebanese and two Saudis, are at large. Captagon pills, which typically contain amphetamine and caffeine, are consumed widely in the Middle East. The drug has helped fuel the conflict in Syria, generating millions of dollars in revenue for producers inside the country as well as being used by combatants to help them keep fighting. Captagon, originally the trade name for the synthetic stimulant fenetylline, was first produced in the 1960s to treat hyperactivity, narcolepsy and depression.

Tiger bites woman in Halloween stunt

Breaking into a Nebraska zoo to “pet” a tiger has left a woman, Jacqueline Eide, with injuries from the big cat and a citation for criminal trespass. Eide, 33, apparently evaded security to sneak into Omaha’s Henry Doorly Zoo on Halloween night. She was bitten Sunday morning and taken to Creighton University Medical Center by a friend, the Omaha Police Department said in a statement Sunday. Officers were later called “regarding a disturbance” at the hospital. “Eide was aggressive toward staff and showed signs of intoxication of alcohol and/or drugs,” police said. “Through investigation, it was learned that Eide had made unauthorized entry into the Zoo to pet a tiger. “When she reached into the cage, she was bitten causing severe trauma to her hand.”

Tuesday, November 3, 2015

In all fairness, this is a wrong time to be involved in Copa America based on our World Cup experience –Brazil captain, Thiago Silva

National Mirror www.nationalmirroronline.net

Sport

Over-confidence cost me Oregon medal –Brume

Musa

UCL:

Martins close to MLS Cup final

Ahmed Mu sa

bafemi Martins’ Seattle Sounders pulled off a dramatic 2-1 win over FC Dallas in their Western Conference MLS Cup playoffs semi-final first leg at CenturyLink Field last Sunday night. Seattle Sounders need at least a draw in the second leg to reach the final while a 1-0 win will be enough for FC Dallas to make it to the final. Seattle Sounders came back from a goal down with Anfreas Ivanschitz scoring Seattle’s equaliser in the 67th minute with a solo effort and Clint Dempsey 86th minute stunning free kick was the match winner. Fabian Castillo netted in the 18th minute for FC Dallas to give them the lead and the goal may count as they go into the second leg, which comes up on Sunday, November 8. Martins, recalled by Nigeria for World Cup qualifiers against Swaziland this month.

storms

Old Trafford S

Martins

uper Eagles captain, Ahmed Musa, is in Manchester, where he is expected to storm Old Trafford this evening, as United host CSKA Moscow in a 2015 UEFA Champions League Match Day 4 game. Musa is at United with his CSKA attacking African brother, Seydou Doumbia, as they have another chance to test Manchester United’s dede fence. The teams played out a one-all draw in their first meeting last month, and United have recordrecord ed three successive goalless stalemates since. With Louis van Gaal now under pressure to see his side produce more of an attacking threat, CSKA’s speed on the counter could see Musa and Doumbia profit at the Theatre of Dreams. Meanwhile, Manchester United midfielder,

Morgan Schneiderlin, is a doubt for the Champions League match against CSKA. The France international, 25, played in United’s goalless draw at Crystal Palace last Saturday, but missed the open part of the squad’s final training session. Reports yesterday, said defender Phil Jones and midfielder Memphis Depay trained separately from their team-mates at Carrington. Centre-back Axel Tuanzebe, 17, also took part in Monday’s session. CSKA defender Aleksei Berezutski and midfielder Roman Eremenko, who has a groin injury, are doubtful for the match. The two teams drew 1-1 two weeks ago in Moscow, and United have failed to score since Anthony Martial’s diving header in the Arena Khimki.

Sports

Tuesday, November 3, 2015

National Mirror www.nationalmirroronline.net

UEFA Champions League…

Today’s fixtures Real Madrid vs PSG

Rodriguez James Rodriguez

returns to face PSG

olombia midfielder, James Rodriguez, could return to action for Real Madrid when they host Paris St-Germain tonight in the Champions League. The 24-year-old has only played two games this season because of a persistent thigh problem. Sergio Ramos also returns to the squad, but Raphael Varane and Pepe are expected to start in central defence. PSG, unbeaten in 16 matches this season, will play without centre-back, David Luiz, who has a knee injury. “Rodriguez is on the list. That does not mean he starts. He lacks

match fitness,” said Real Coach, Rafael Benitez. Benitez will also be without injured strikers, Karim Benzema and Gareth Bale, who has endured a stop-start season for his club including picking up a calf injury in the 4-0 win over Shakhter Donetsk last September. “Benzema, Bale and Arbeloa, who are not in the squad, lack the match confidence to have a role in such a high intensity game as this,” Benitez added. “The first thing we do is talk to the players and then the physios and doctors in order to get a precise view of the situation. If he says the

player is ready to play then there is no problem.” Real, who played goalless against the Ligue 1 side when they met in Paris two weeks ago, are also unbeaten in all-competitions, but Coach Benitez believes his side have more to give. “The team are doing well but I am convinced that they will improve,” added the 55-year-old, who won the Champions League title in his first season with Liverpool in 2005. “I want to see the best team when we are competing for titles. We’ve got a great margin of improvement. I hope the best is yet to come.”

CAF Award: Enyeama not in 10-shortlist

igeria’s duo of Vincent Enyeama and Ahmed Musa, have been dropped, as the Confederation of African Football (CAF) yesterday reduced the earlier 37man list for the 2015 African Footballer of the Year crown to a 10-man shortlist. Consequently, Cote d’Ivoire’s Yaya Toure has every chance of retaining his award after featuring on the shortlist of 10 nominees. The Manchester City midfielder captained the Elephants to glory at the 2015 Africa Cup of Nations last February in Equatorial Guinea and has won the CAF award in each of the last four years. His stiffest competition could come from Borussia Dortmund and Gabon forward Pierre-Emerick Aubameyang, who is on top of the Bundesliga scor-

ing charts at the moment alongside Bayern Munich’s Robert Lewandowski. Andre Ayew of Swansea City and Ghana and Southampton’s Senegal winger Sadio Mane are among the other contenders. The winner, decided by votes from coaches or technical directors of African national teams, will be announced at a ceremony i n Abu-j a , Nigeria, o n January 7 next year. M e a n -

while, Aubameyang has explained his dream of playing in Spain. According to ESPN, the Gabon striker says he wants to keep the promise he made to his grandgrand father who passed away last year. The German Bundesliga-based restriker has re vealed that his grand dad was a R e a l Madrid s u p porter and he vowed to Authe late Au bameyang senior that he will play in the Enyeama Primera Liga. “I’ve signed a

contract until 2020, like I’ve always said, I have a dream of playing in Spain,” Aubameyang said.

The 10 nominees André Ayew (Ghana/ Swansea City) Aymen Abdennour (Tunisia/Valencia) Mudather Eltaib Ibrahim ‘Karika’ (Sudan/El Hilal) Mohamed Salah (Egypt/ AS Roma) Pierre-Emerick Aubameyang (Gabon/Borussia Dortmund) Sadio Mané (Senegal/ Southampton) Serge Aurier ( Cote d’Ivoire/Paris Saint-Germain) Sofiane Feghouli (Algeria/Valencia) Yacine Brahimi (Algeria/Porto) Yaya Touré (Cote d’Ivoire Manchester City)

Shakhtar vs Malmo Man Utd vs CSKA PSV vs Wolfsburg Benfica vs Galatasaray FC Astana vs Atl Madrid Sevilla vs Man City M’bach vs Juventus

Sevilla declare ‘operation beat Man City’

Yaya

evilla Coach, Unai Emery, believes his side have to beat Premier League leaders Manchester City tonight to have any chance of advancing to the last 16 of the Champions League. The Europa League holders sit third in Group D, three points behind City, with Italian champions, Juventus, a point further clear at the top of the table. “If we win tomorrow (today) then City are catchable,” Emery said yesterday. “If we draw we have a significant disadvantage, plus there is Juve there already with seven points. “Therefore, tomorrow is decisive. If we want to have optimistic hopes of reaching the last 16 then winning is the only option we have.” Emery questioned his side’s fight after they suffered a fourth defeat in 10 La Liga games this season at Villarreal last Saturday to slip to 11th in the table. However, they have won their last 10 European games at home en route to winning back-to-back Europa League titles and three consecutive matches in La Liga at the Sanchez Pizjuan, including a 2-1 win over Barcelona last month. “Tomorrow (today) we are playing at the Sanchez Pizjuan and we have to continue with this consistency,” added Emery. “It is a huge challenge, similar to that when we played Barcelona for the calibre of the opponent, the leaders of the Premier League, and it will take our best to overcome them.” However, top scorer Kevin Gameiro misses out with a hamstring problem.

National Mirror www.nationalmirroronline.net

Sports

Tuesday, November 3, 2015

World bits… Bolt, Schippers make world athlete of the year list

Mercyjacob_26@yahoo.com Tel: 08063056537

sain Bolt and Dafne Schippers have amassed the most votes in the sprints category in the first round of voting for the 2015 IAAF World Athlete of the Year award. Bolt successfully defended his 100m, 200m and 4x100m titles at the IAAF World Championships, Beijing 2015. The Jamaican sprinter clocked a worldleading time of 19.55 when winning the 200m and he now owns 17 gold medals from senior global championships. Schippers clocked a European record of 21.63 to win the 200m title in Beijing to go alongside the silver medal she took in the

100m where she set a Dutch record of 10.81. Earlier in the year, she set a world-leading mark of 7.05 over 60m. Last month the IAAF Family* was asked to select nine men and nine women from each of the following categories: sprints, hurdles, middle and long distance, road running, race walking, jumps, throws, combined events and multi-terrain. The longlist will comprise the top-voted athletes in each category. The candidates from the other categories in the world athlete of the year voting will be announced over the coming days.

IAAF publishes new rules online

Over-confidence cost me Oregon medal –Brume

ommonwealth and Africa Long Jump champion, Ese Brume has expressed regrets over her inability to win medal at the 2014 World Junior championship hosted in Eugene, Oregon, USA as a result of over confidence. The Delta born track and field athlete wishes she can reverse the hand clock so as to correct her mistake which according her made her not to win medal despite the superlative performance she put up at the event. “Since after I came into lime light as a track and field athlete, I have tried all within my power to give my best in order

to justify that my discovery was not a fluke in all the competition I am invited Brume started. But what happened in last year junior championship will remain ever green in my heart because my failure to pick a medal at that championship even when I was closed was a mirage. I worked so hard before that competition to ensure I win a medal been the first of its kind in my career but unfortunately my over confidence worked against me along the line and I missed it .Till date it is difficult for me to wipe it away from my memory Brume said. If I have power to reverse the hand clock and change things

that competition should be one of those things I will like to change, but my solace is that I still have my years ahead of me to make that correction. Speaking further, Brume said she has set her eyes towards the 2016 Olympics and promise not to allow distraction stop her from actualize her dream if invited for the Games by the federation. “Right now I have started training on my own to ensure I keep feet before the Games .I have set a target for myself hoping to be invited by AFN Rio 2016 Olympic .My dream is to win an Olympics gold and I believe it is achievable with God by my side.

Star Quote…

There are so many great athletes out there and we have to uplift and better promote them all.

Veronica CampbellBrown

he IAAF Competition Rules 2016-2017 came into force on Sunday and are now available online . Some of the more notable changes to the rules include: Distances run at the IAAF World Cross Country Championships have been standardised for both senior men and women at 10km. Trail running has been officially included as part of the definition of athletics. The distance medley relay and the women’s 50km race walk have been added as official world record events. In line with many other

sports, the term ‘junior’ has become ‘U20’ and ‘youth’ is now ‘U18’. “These are just some of the changes which mark out the IAAF Competition Rules 20162017 as the latest step in the standardisation of athletics, a process which formally began with the foundation of the IAAF more than 100 years ago,” said IAAF President Seb Coe. “As a former athlete, I’m the first to understand that these rules are the bedrock of everything that an athlete or official does in the competition environment.”

Ex-world record holder, Mctear, dies

he IAAF is deeply saddened to learn that US sprinter Houston McTear died last Sunday (1) after a long battle with cancer. He was 58 years old. Born in February 1957 in Okaloosa County, Florida, McTear excelled at an early age. As an 18-year-old, competing at the Florida High School Championships, McTear equalled the world record of 9.0 in the 100 yards. The following year, while still a junior and a high school athlete, he clocked 10.16 to finish second in the 100m at the US Olympic Trials and qualify for the 1976 Games in Montreal, but an injury forced him to withdraw from the Olympics.

As a 20-year-old and a member of the Muhammad Ali Track Club, he set a 100m PB of 10.13, the second-fastest time of 1977. In early 1978, he set a world best of 6.54 over 60m. The US boycott of the 1980 Games prevented his participation at the Moscow Olympics, kick-starting what was to be a difficult decade for McTear. He made a brief comeback in the early 1990s and married Swedish sprinter Linda Haglund. McTear had been suffering from lung cancer for the past few years, which is said to have recently spread to other parts of his body. He leaves behind three children: Isaac, Michi and Autumn.

WORLD RECORD

Highest fall survived without Fastest marathon dribbling twoparachute basketballs

N150

Vol. 05 No. 1235 Tuesday, November 3, 2015

Vesna Vulovic (Yugoslavia) was 23 working as a Jugoslavenski Aerotransport hostess when she survived a fall from 10,160 m (33,333 ft) over Srbsk, Kamenice, Czechoslovakia (now Czech Republic), on 26 January 1972

Wars everywhere: Countdown to the apocalypse? T he relativistic and pluralistic coloration given to TRUTH has always precipitated divisions, conflicts, controversies and wars. Hence, the first victim of war is TRUTH. When truth is murdered, hoodwinked and suppressed in any collectivity, this propels the instant death of peace redounding to war. War is the unleashing of violent martial against another individual, or nation or collectivity. The Peloponnesians wars; the First and Second World Wars; the Nigeria/Biafra Civil War(1967-1970), and the raging Syrian Wars among others have turned our world into an oubliette of doom, death and quagmire.

Guest Columnist

Benson Gbinije

Wars have plunged and will continue to plunge mankind into the abyss and labyrinth of arrested development. It is the proverbial vulture of our world waiting to consume the carcasses of the dead. It brings out and unleashes brutish bestialities, sanguinary proclivities, belligerent lunacy and genocidal decimations on helpless children, women and innocent men etc. In the 21st century that boasts of socalled modern civilization, with over 300,000 universities, over one billion Christians, two billion Muslims Buddhist, Hindus and nominal traditionalists etc, it is a shame that wars still remains the major means of settling our differences. Oh what a hypocritical world! Seeing the evil of war, the essayist Dr Finley Peter Dunne (1867-1937) posited in his book ‘War and War Makers’ that “I wish it could be fixed up, so the men that start the wars could do the fighting”. The late Biafra warlord, Chief Emeka Odumegu Ojukwu observed in his book, ‘Because Am Involved’ that “Nobody Likes bloodletting, one would certainly wish there were no more wars in all parts of the world, because no war in history has ever solved the problem it set out to solve, eventually, whatever solution there is, emerges from a conference table, and not from the battle field. It is only those who have not been involved in a war that will always push war as the first solution to any problem. War does not solve, it cowers, but the

THE TOTALITY OF OUR WORLD IS SUNKEN IN THE THROES AND CESSPIT OF WARS problem remains”. The people of Ife-Modakeke, Urhobo / Itsekiri/ Ijaw, Tiv-Jukuns, Boko Haram insurgents etc seem not to have learnt their lessons about the futility and negative consequences of war. The people that cause the war and set the stage for the war do not fight. It is the common man, the flotsams and jetsam that die in reckless battles. Hence, the statesman Winston Churchill (1874-1965) said that “Little did we guess that what has been called the century of the common man would witness as its outstanding feature more common men killing each other five centuries together in the history of the World”. But in very rare cases when painstaking, mindboggling, intensive saber-rattling and dogged consummate dispute resolution and schism management alternatives have been exhaustively explored and exploited, men could be reluctantly compelled to resort to war in self-protection and self-preservation. But it is the established philosophy of the stoic and pacifist thinkers that on no ground and condition must war be fought. But Adolf Hitler (1889-1945) in his book ‘Mein Kampf ’ said “it must be thoroughly understood that the lost

land will never be won back by solemn appeals to the good God, nor by hopes in any League of Nations, but by the force of arms”. And George Washington (17321799) said that “to be prepared for war is one of the most effectual means of preserving peace”. They preferred war wholly and partially, but war put an end to their life ambitions and dreams. The totality of our world is sunken in the throes and cesspit of wars. The United Nations, African Union, Organization of American States, ECOWAS, ASEAN, Organization of Asia/Pacific Nations, regional bodies, national and state bodies can no longer checkmate and deracinate the octopoidal tentacles of wars in our world. We call on our leaders, peoples and the global communities to give peace a chance. In his October 25,1962 encyclical, Pope John Paul XX111 (1881-1963) admonished the world thus: “We supplicate all rulers not to remain deaf to the cry of mankind, let them do everything in their power to save peace, by so doing they will spare the world the horrors of a war that would have disastrous consequences, such as nobody can foresee”. Finally, Jesus Christ admonished us “to beat our swords into ploughshares, and our spears into pruning-hooks that nations shall not lift up sword against nation, neither shall they learn war anymore”. In his Song of Hiawatha, Henry Wadsworth Longfellow said: “Buried was the bloody hatchet, buried was the dreadful war-club, buried were all warlike weapons, And the war-cry was forgotten, then was peace among the nations”. This was corroborated by John Fitzgerald Kennedy in his 1961 United Nations address, when said that “mankind must put an end to war or war will put an end to mankind”. Chief Gbinije is founder of Mandate against Poverty, Warri, Delta State .

Sport Extra

helsea boss, Jose Mourinho, is to be the subject of individual legal action from former Chelsea team doctor, Eva Carneiro. It means the Portuguese will have to appear at an employment tribunal un-

Chelsea ex-doctor sues Mourinho less there is an out of court settlement. Carneiro was dropped from first-team duties after Mourinho said she was “naive” for treating Eden Hazard during a draw with

Swansea. The incident in question occurred on August 8, the opening day of the Premier League season, when Carneiro and head physio, Jon Fearn, were called on to the

pitch during Chelsea’s 2-2 draw with Swansea to treat midfielder Hazard. According to BBC Sport report, her lawyers are already suing the club for constructive dismissal.

The individual legal claim against Mourinho of victimisation and discrimination means Carneiro’s lawyers are alleging he was instrumental in Carneiro’s apparent demotion.

Carneiro

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