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Again, terrorists kill 9 in Borno

Buhari’s govt clueless, says Adebanjo

...as President meets service chiefs

ROTIMI FADEYI, UBONG UKPONG AND INUSA NDAHI

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uspected members of the Boko Haram sect on Sunday invaded Gwoza Local Government Area of Borno State, killing nine people, while many residential

Tuesday, October 20, 2015

houses were destroyed. However, scores of the insurgents were said to have met their Waterloo as military operatives in Gwoza reportedly reCONTINUED ON PAGE 5>>

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FG’ll not stop arrest, probe of corrupt officials –APC Show your member under interrogation –PDP

OBIORA IFOH AYO ESAN

AND

ll Progressives Congress, APC has said the Pres-

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L-R:Chief of Naval Staff, Vice-Admiral Ibok Ibas; Chief of Army Staff, Lt-Gen. Tukur Buratai, and Chief of Defence Staff, Gen. Abayomi Gabriel Olonisakin, during a security meeting with President Muhammadu Buhari at the Presidential Villa in Abuja, yesterday.

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Ministerial screening: Senate may shock Amaechi today P.4 Value of mobile money transfer scheme hits N815.47bn

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Appeal Court adjourns judgement on Saraki’s case indefinitely Osun Assembly passes Public Procurement Bill

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Adamawa pays N9.57bn bailout funds to civil servants

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Tuesday, October 20, 2015

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Appeal Court adjourns judgement on Saraki’s case indefinitely DOOSUUR IWAMBE ABUJA

buja Division of the Court of Appeal yesterday adjourned indefinitely the appeal filed by the Senate President, Senator Bukola Saraki, seeking to stop his trial before the Code of Conduct Tribunal. The court, though did not give any reason why it could not deliver the judgement, however, it adjourned indefinitely. The court had on Friday fixed 2pm yesterday for the judgement. When the parties, lawyers and journalists got to the court yesterday, the doors were under lock and key. However, on inquiry at the registry of the court, it was gathered that the judgment had been adjourned indefinitely. The appellate court had fixed yesterday on Friday after taking final brief of arguments from counsels to parties in the suit. Saraki’s counsel, Joseph Daudu, SAN, who led Yusuf Ali, Adebayo Adelodun, Mahmud Magaji, Ahmed Raji and Kayode Eleja all SAN to argue the case of Saraki raised five major issues for determination by the court. Among others, the appellant counsel argued that the code of conduct tribunal erred in law by proceeding with the trial with two members instead of mandatory three as provided by the constitution. He argued that the composition of the tribunal during the trial of Saraki violated paragraphs 15(1) of the 1999 constitution by sitting with two members instead of three and asked the court to nullify the CCT proceedings of last month due to lack of quorum. The appellant counsel disagreed with the arguments of the federal government counsel, Rotimi Jacobs, SAN, that the Interpretation Act could be used to resolve the constitutional logjam since the constitution was silent on the quorum for the tribunal membership.

Daudu insisted that the Interpretation Act could not override the constitution being the supreme law and the Act being inferior to the constitution. He also argued that the tribunal was wrong in assuming criminal jurisdiction against the Senate President when it was not a superior court of record. Daudu who cited sev-

eral authorities submitted that the tribunal could not assume concurrent jurisdiction with the Federal High Court adding that the code of conduct tribunal was by law inferior to the Federal High Court. He therefore urged the appeal court to nullify the proceedings of the tribunal against Saraki and to also set aside the

criminal charges filed against him by the federal government on account of being illegal and unlawful. However opposing the submissions of Saraki’s counsel, the federal government, through its counsel – Rotimi Jacobs, SAN - asked that the appeal case be dismissed for lacking merit. Jacobs told the 3-man

appeal court panel that the constitution was silent on the quorum of the tribunal memberships. He urged the court to invoke the Interpretation Act to resolve the issue in favour of the respondent. The respondent counsel also submitted that the tribunal had criminal jurisdiction because

of the use of words like “guilty” and “punishment” in the law that established the tribunal. The presiding judge, Justice Morri Adumein, struck out an application by Saraki praying for a stay of further proceedings at the tribunal on the ground that event had over taken the application with the hearing of the substantive matter.

Lagos State Governor Akinwunmi Ambode (right) congratulating Mr. Steve Ayorinde, after being sworn in as Commissioner for Information and Strategy, at the Adeyemi Bero Auditorium, Alausa, Ikeja, yesterday.

FG’ll not stop arrest, probe of corrupt officials –APC CONTINUED FROM PAGE 1

ident Muhammadu Buhari administration will not micro-manage the anti-corruption agencies. The party said it is wrong for the Peoples Democratic Party, PDP, to accuse the APC-led Federal Government of unleashing anti-corruption agencies against the opposition. In a statement issued in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, the party also dismissed the allegation by the PDP that the anticorruption war of the Buhari administration

is selective, calling it a worn-out argument. “The ceaseless cry of selective anti-corruption battle is a bogey invented by the PDP to intimidate the anti-corruption agencies, and it will not work. It is the PDP’s strategy to stifle the fight against corruption. “How can the PDP claim to support the anti-graft battle when every time any of its members is called in for questioning, it runs to the media to shout that the battle is ‘selective’? Is it possible that anyone who is invited for questioning will not belong to a party, an eth-

nic group or a certain faith?” it queried. APC said the anticorruption agencies have a duty to investigate petitions sent to them, irrespective of who is involved, but noted that invitation for questioning is not the same as conviction. “Those who have nothing to fear must be willing to clear their names by honouring any invitation, and only the guilty needs be afraid. The PDP must stop being hysterical over such invitations which are not going to stop simply because the opposition has called

a press conference to cry wolf where there is none,” the party said. But, PDP challenged the Presidency and APC to show any of the ruling party’s members that has so far been invited or arrested by any anti-graft agency. The opposition party insisted that only its members and perceived political opponents such as Senate President Bukola Saraki are being hounded. PDP, through its National Publicity Secretary, Chief Olisa Metuh, also said the Special Adviser to the President on Media and

Publicity, Femi Adesina is not conversant and knowledgeable in politics and intricate issues of governance. Metuh was reacting to Adesina’s defense that the Buhari administration is not dictatorial and selective in its fight against corruption. He challenged the Presidential aide “to defend him by showing Nigerians any APC member that has so far been invited or arrested by any anti-graft agency, other than PDP members and perceived political opponents such as Saraki.”

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Tuesday, October 20, 2015

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Tuesday, October 20, 2015

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L-R: Managing Director, ANSIPPA, Chief Joe Ekwunife; International Sales Director, Affordable Building Concepts Ltd, Tony Duncan; Chairman, ANSIPPA, Igwe Cyril Enweze and Anambra State Governor Willie Obiano, during the signing of an MoU for the construction of 10,000 houses in Anambra State, yesterday.

President, Women Arise, Dr. Joe Okei-Odumakin (middle) and other protesters seeking justice on the alleged killing of Mrs. Comfort Udoh by Corporal Museliu Aremu, at Lagos Court, yesterday. PHOTO: SAMUEL ADETIMEHIN

L-R: General Manager Sales, North, West/ Central Africa, SES, Eric Lecocq; Sales Manager, North, West and Central Africa, Joy Emenike; COO, Softwire, Igbinosa Ehigie Nosa and Vice President, Regional Marketing, Paul Freeman, during a media briefing to announce the partnership between SES and Softwire, in Lagos, recently.

L-R: Regional Operations Director, Airtel Nigeria, Oladokun Oye; Guardian of beneficiary, Mr. Samuel Owoeye; Brother of beneficiary, Tomiwa Ayeni; Head, CSR, Airtel Nigeria, Chinda Manjor, at the Airtel employee volunteer scheme cheque presentation to Oluwaseyi Ayeni who was diagnosed with a Posterior Fossa Tumor in Lagos, recently.

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Ministerial screening: Amaechi knows fate today GeorGe oji AbujA

he Senate will today take a position on the case of the former Governor of Rivers State and ministerial nominee, Rt. Hon. Chibuike Rotimi Amaechi, who is one of the ministerial candidates sent to the Senate by President Muhammadu Buhari for screening and confirmation as a minister of the Federal Republic of Nigeria. Amaechi was among the first batch of the 21 nominees sent to the Senate by the President on September 30 for confirmation. However, while the rest other first batch nominees were screened and confirmed by the Senate, the former Rivers State governor had his screening postponed twice. The postponement was occasioned by the

petition written against Amaechi by a Rivers State-based anti corruption group, “The Integrity Group,” which accused the ex-governor of financial fraud to the tune of N70 billion while in office as the state governor. Even though the petition against Amaechi has been investigated by the Senate Committee on Ethics, Privileges and Petition, the committee is yet to forward the report to the Senate. This prompted the postponement of the screening of the former governor by the Senate twice. But while fielding questions from newsmen at the National Assembly yesterday, chairman of the committee, Senator Samuel Anyanwu assured that the report was ready and would be laid before the Senate for consideration. It is expected that the

Senate would consider the report and adopt it first before continuing with the screening of the remaining nominees. Besides Amaechi, the Senate could not also screen Barrister Adebayo Shittu (Oyo State nominee) who is also among the first batch of the nominees. Unlike Amaechi, there was no official reason or explanations by the Senate why the screening of Shittu was put off. Meanwhile, the committee also yesterday considered the petition filed against the Sokoto State ministerial nomi-

nee, Aisha Abubakar. Abubakar, who is the daughter of the former Minister of Finance, Abubakar Alhaji Abubakar, personally appeared before the committee to answer to the allegations in company of her lawyers, but the committee asked her to go because the petition was in serious default. The petition, which was hand-written, was also addressed to the President Buhari, through the National Chairman of the All Progressive Congress (APC), and copied the Senate President.

The committee faulted the petition because it was not properly routed to the Senate President as required by the rules of the Senate. This was as the Senate caucus of the APC was billed to hold a meeting at 8.00 pm last night to fashion out ways of providing smooth landing for Amaechi. It was gathered that the People’s Democratic Party (PDP) senators are determined to frustrate the confirmation of the former governor, even as Amaechi himself has been making frantic efforts to reach out to the

Ban on fireworks still in force –IG

nspector-General of Police, IGP, Mr Solomon Arase, has warned that ban on the use of fireworks is still in force in the country. This was contained in a statement issued by the Force spokesperson, Ola-

bisi Kolawole, an acting assistant commissioner of police, ACP in Abuja yesterday. “It has come to the knowledge of the Nigeria Police Force that some Nigerians have started using fireworks and firecrack-

ers in anticipation of the yuletide celebrations,” he said. He said the present security situation in parts of the country did not warrant the use of fireworks or knock-outs. Arase said that the

leadership of the PDP. It was further gathered that Amaechi has been trying to penetrate the PDP senators through his former colleague governor and Minority Leader, Senator Goodswill Akpabio. Amaechi, it was also revealed had several meetings with Akpabio and a number of the PDP senators in the private residence of the leader in Abuja at the weekend. As at last night, it was not certain whether the PDP senators had softened their previous hard stance position against Amaechi.

warning became crucial as there were reports that hoodlums were now using fireworks to confuse Nigerians in order to carry out their nefarious activities. He said violators of the ban would be made to face the wrath of the law

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Tuesday, October 20, 2015

Again, terrorists kill 9 in Borno CONTINUED FROM PAGE 1

pelled the attack. Gwoza was declared an Islamic Caliphate by the group’s leader, Abubakar Shekau last year when his fighters seized the town which is south and about 150kms drive from Maiduguri, the state capital. It was learnt that the terrorists also made an attempt to attack Gwoza last

week, but were repelled by the military, with many of the attackers killed, while arms and ammunitions were recovered from them. In a related development, President Muhammadu Buhari yesterday met with Service Chiefs on the security situation in the county. The meeting also re-

viewed the strategy to ensure defeat of the Boko Haram sect by December. Speaking with State House Correspondents after the meeting, Chief of Defence Staff, CDS, General Abayomi Olonishakin said issues relating to how to curtail weather and logistic challenges hampering the fight against insurgents were

discussed. Olonishakin said: “It is a normal consultation to intimate him of the issues on ground. We briefed him on the security situation on ground after a 60-day review and we had to brief him on the challenges we have and ensure that the mandate we have is properly delivered.” When asked about the

challenges faced by the military, Olonishakin said they include weather and logistics. “The challenges we are looking at include weather as it were and some other logistics that we feel we should have,” he added. On the possibility of the extension of the December deadline, Olonishakin said the deadline

L-R: President, Africa’s Young Entrepreneur (AYE), Mr. Summy Francis; Vice President Yemi Osinbajo; Vice President, AYE, Ms. Ibada Ahmed and AYE, National Head, Nigeria , Mr. Femi Fajemisin, during a courtesy call by AYE, at the Presidential Villa in Abuja, yesterday.

FOI: Justice ministry warns govt officials against falsification of information

ederal Ministry of Justice yesterday warned government officials against denial, distortion or falsification of information under the Freedom of Information Act, FIOA. Director, FOI unit of the ministry, Mrs. Stella Anukam gave the warning in Abuja at a sensitisation workshop on FOIA implementation. Anukam said the Act empowered Nigerians to hold public servants accountable for their actions while in office, adding that officials who falsified information were liable to one year imprisonment. “There are some provisions in the act that says when you distort informa-

tion, you falsify information, then you are liable to criminal convictions for a minimum of a year with payment of fine. “There is also a provision that says that when you wrongfully deny the release of information, you can also be convicted and you pay a fine of N500, 000. “You are not expected to deny anybody any information within the ambits of the law, as we said there are some exemptions but when you willfully on your own refuse to release information, you become culpable,” she said. Anukam explained that the Act comprises 32 sections dealing with the right of access to records and procedures for making request for information.

According to her, it also looks into grant or denial of requests, exemptions, provisions for judicial review and the Attorney-General’s oversight functions. She said timely disclosure of information was an essential component of transparency and good governance rather than a witchhunting exercise. “If government must be seen to be open in its activities and ensure the participation of people of Nigeria in their government, public institutions must set up structures that will facilitate, enhance and guarantee openness, accountability and transparency in their operations by making access to information free and speedy,” she added.

The director, however, said the Act had failed to make provisions for sanctions for failure to submit annual reports, although there were provisions for sanction for distorting of information. She urged the media to join forces with the ministry in ensuring compliance and full implementation of the Act. In her remarks, Permanent Secretary, Ministry of Finance, Mrs. Anastasia Daniel-Nwaobia, said the Act had bridged the gap between the government and the governed. Represented by Director, General Services of the ministry, Mrs. Abiodun Anibaba, Daniel-Nwaobia said free flow of information

now existed between the government and the people. “Today, FOIA has made it possible for the public to get vital information on the running of the government unlike when the government information was hoarded by officials under the cover of official secrecy,” she said. She also said the ministry had done well in its implementation of the Act and assured that the ministry would not relent in adhering to the provisions of the Act. The one-day workshop was organised for directors of the Ministry of Justice in line with the anti-corruption agenda. FOI was passed on May 28, 2011.

to defeat Boko Haram still stands “The mandate is that we should clear Boko Haram from the occupied territories and ensure that we reclaim all the lost grounds. That is exactly what we are doing. “The directive is that we should continue what we have been doing and in the next few days, there will be another meeting. “But by and large the President is excited and confident that the leadership of the Nigerian armed forces that he puts in will do us proud,” he said. Meanwhile, Republic of Netherlands yesterday, offered to support in building the capacity of Nigerian Army in special areas to face the war against Boko Haram. A statement by the Director of Army Public Relations, DAPR, Colonel Sani Usman, said Netherlands Defence Attaché to Nigeria, Colonel Eric Adriaan de Landmeter, conveyed his country’s commendation and offer when he visited the Chief of Army Staff, COAS, LtGen Tukur Buratai, at the Army Headquarters, AHQ, in Abuja. The Defence Attache disclosed that his country was interested in what was happening in Nigeria especially in the fight against Boko Haram. “Netherlands have the capacity to offer specialty in many areas to the country, especially with the current security challenges facing Nigeria,” the Defence Attache said. Buratai told the Netherlands that the Nigerian Army was a force to be reckoned with at all times in the world. He pointed out that both Nigeria and the Netherlands, have been participating in Peace Support Operations for a long time. Buratai said the Multinational Joint Task Force, MNJTF, has commenced operation, adding that troops contributing countries are expected to operate within their territories. The COAS assured the Defence Attaché of the Nigerian Army’s determination to end Boko Haram activities soon.

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Tuesday, October 20, 2015

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Fake70-year-old Presidential Adviser arrested in Abuja

ederal Capital Territory, FCT, Police Command on Monday said it had arrested a 70-year- old fake Presidential Adviser on Defence Matters. Presenting the suspect who claimed to be a retired Army Colonel, to the media, the command’s spokesman, ASP Anjuguri Manzah, said the suspect was arrested on October 18 in Maitama area of Abuja, following a tip-off. “Police operatives attached to Maitama Division acting on a tip-off arrested one fake Colonel (name withheld) who claimed to be the Special Adviser to the President on Defence Matters,``Manzah said. He said the suspect, who specialised in defrauding influential people in the society, had gone to the area to meet up with an appointment with a former state governor. The spokesman said the suspect upon arrest confessed to the crime. “He also confessed that

he only hides under that guise to solicit for juicy contracts or financial favour from his high profile victims, “he said. He added that one fake identification card and five complimentary cards were recovered from him. The suspect, who said he worked with the Bauchi State Government up to 1990, said he had been in the business for over three years. “I thought it was an easy way to feed my family,``he said. Manzah said that the suspect had been transferred to the Criminal Intelligence and Investigation Department for further investigation. Similarly, the command has arrested a suspect who specialised in producing and circulating fake N1,000 notes to unsuspecting members of the public. Manzah said the suspect was arrested by police operatives around Royal Park in Wuse two, Abuja, where he had gone to buy mobile phone recharge card.

CDHR threatens legal action against police over attack on student Femi OyewesO ABEOKUTA

gun State chapter of the Committee for the Defence of Human Right, CDHR, yesterday threatened that it would institute a legal action against the police should it fail to sanction two of its officers who allegedly brutalised an HND 1 student of Moshood Abiola Polytechnic, MAPOLY. The state chairman of CDHR, Olayinka Folarin, who spoke in an exclusive interview with National Mirror said CDHR was dissatisfied over the incident which saw two police officers from the Adigbe Divisional Police Headquarters of Ogun command brutalising the computer science student identified as Peter Taiwo. National Mirror gathered that two police officers from the Adigbe Divisional Headquarters of the Ogun Command had last Thursday attacked Peter at Olatidoye Street of Abeokuta metropolis where he was inflicted with life-threatening injuries on his head. It was further gathered that the 25-year-old student was reading under the shadow of the street solar light in front of his house at Oluwo area around 11:00p.m in preparation

for his Second Semester examination before he was accused of staying late outside by Assistant Superintendent of Police, ASP, Emmanuel Ogunlesi in company of a police corporal. Peter was thereafter, chased inside his room where ASP Ogunlesi descended heavily on him by hitting him with the police baton severally on the head. Sensing danger over the health of the student, the policeman allegedly left the student unconscious in a pool of blood and escaped from the scene along with his colleague on a motorcycle. As at Monday afternoon when journalists visited the victim in the hospital, Peter, who looked emaciated, was said to be in a state of near-coma as he could neither open his eyes nor utter any word. He was also so weak that he almost fell off a chair when attempts were made to sit him up. But reacting to the police brutality, state Chairman of CDHR demanded that the police authority in the state should forthwith, dismiss the two police officers, ASP Ogundaisi and Corporal Samuel Ajayi with immediate effect and also prosecute them.

L-R: Ambassador Muhammadu Yunusa of Embassy of Nigeria, Hungary; Vice President, Regulatory and Corporate Affairs, Etisalat Nigeria, Ibrahim Dikko and Director, Legal and Regulatory Services, Nigerian Communications Communication, Josephine Amuwa, during the just concluded International Telecommunication Union Telecom World 2015 in Budapest, Hungary.

Value of mobile money transfer scheme hits N815.47bn

irector of Banking and Payment System in the Central Bank of Nigeria, CBN, Mr Dipo Fatokun, said about N815.47billion has been transferred though the Nigerian mobile money system since its inception. He said that the figure was as at September 30, 2015. Fatokun disclosed this in Ilorin on Monday at the NDIC workshop for Business Editors and Finance Correspondents with the theme: “Developments in E-banking, Mobile Payments and Deposit Insurance Corporation in Nigeria”. Fatokun, who was represented by Mr Sola Agboola, an Assistant Director of the department, said that the monies were transferred in 76.95 billion transactions by 24.4 billion subscribers. He said the platform had created employment opportunities through the 98,158 agents in the scheme. The CBN director said there were still untapped opportunities under the system, stressing that the CBN and other stakeholders were putting in efforts to fill the identified gaps. According to him, there are some challenges for the Micro, Small, and Medium Scale Enterprises, MSME, in the process of job creation through mobile payments system. Fatokun, however, said that the apex financial institution in collaboration with various stakeholders

is making frantic efforts to surmount the challenges. He listed the challenges to include epileptic power supply, poor telecommunications connectivity and lack of synergy between mobile money operators and telecommunication companies. Fatokun said that there is the need to enhance cus-

tomers’ awareness of the scheme, particularly at the grassroots. He added that 21 Mobile Money Operators had been licensed and are carrying out commercial operations, although eight were actually running the pilot stage. Fatokun also said that mobile money scheme was to leverage on the existing

business network infrastructure as strategy for driving financial inclusion of the unbanked. According to him, the primary objective of mobile payment is to foster financial inclusion, deliver on employment, transaction cost reduction and facilitate economic growth in the medium to long-term.

developing countries. “They must reject and return stolen funds so that respective governments of the affected developing countries could use the money to better the lives of their citizens.’’ The statement quoted Mr Colm Cuanachain, the Senior Director, Office of the Secretary-General, Amnesty International, as saying that nations committed to anti-corruption war had

the tendency to experience ‘‘phenomenal growth’’. Cuanachain, while expressing the readiness of Amnesty International to partner with EFCC, noted that corruption had contributed to human rights violation in the North-East and the Niger Delta region. He said that death penalty, as punishment for looters of the treasury, was not the best option in the fight against corruption.

EFCC denies obtaining suspects’ statements under duress

hairman, Economic and Financial Crimes Commission, EFCC, Mr Ibrahim Lamorde, yesterday, denied the allegation that suspects being investigated by the commission were made to give statements under duress. Mr Wilson Uwujaren, Spokesman of the EFCC, in a statement in Abuja, said Lamorde stated this during a visit to the commission by officials of Amnesty International. “The EFCC follows the rule of law; our statements are recorded and are not taken under duress. “Our rooms have cameras in them and the state-ofthe-art recording facilities in the EFCC interrogation rooms will not allow any interrogator to humiliate a suspect,” the statement quoted Lamorde as saying. The statement said that Lamorde, who expressed gratitude to the team for opening an office in Abuja, described corruption as the worst type of human rights abuse. “Western countries must end the impoverisation of

PUBLIC NOTICE AROWOIYABUNA AREA LANDLORDS ASSOCIATION OF OLODI-APAPA, LAGOS The above named Landlord Association is applying for registration under Part “C” of the Companies and Allied Matters Act 1990.

The Trustees are:

1. Dr. George Abaye 2. Mr. Olumegbon Ibrahim Babatunde 3. Mr. James Chizoba Chukwuma 4. Ichie Pius Ikpo Chinuba 5. Mr. Dominic Chukwu Ezeanyika 6. Mr. Bertram Benaiah Nwajagu Aims and Objectives: 1.For the unity and development of the area. 2.To be their brothers “keepers and to foster co-existence amongst the residents of the area. 3.For security watch in the neighbourhoods. Any objections to the registration of the above-named Landlords Association should be forwarded to the Registrar-General, Corporate Affairs Commission. Plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja, within 28days of this publication.

Signed: BARRISTER SAM UJUNWA 0802-3215-123:08175444808

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Tuesday, October 20, 2015

Osun state owned tertiary institutions’ NASU suspends 5-month-old strike

on-Academic Staff Union, NASU, Osun State owned Tertiary Institutions has suspended the five months old strike embarked upon. The leadership of the union made the announcement while signing a Memorandum of Understanding, MoU, between the union and the state government. While reading the communique unanimously signed by the representatives of the union in all the four state owned tertiary institutions, the State Chairman, Joint Negotiating Council of the NASU, Olusoji Fasipe commended Governor Rauf Aregbesola for his rare understanding and patience despite the issues attached to the industrial action which according to him resorted to the protracted strike. He charged the state government not to renege in its promises of paying them within the stipulated seven days of resumption, adding that the strike has been suspended in line with the agreement made

with the government. He said the union was always on the side of the plight of government, assuring that the union would do all it could to support the current government in its bid to reposition her economy most importantly as the state is being financially challenged. “We are ready to do our best to ensure that the state economy is revamped. “We have friendly and fatherly people in government and they have been playing the roles as expected and it is our beliefs that they would not relent in giving us more support. “We suspend this strike based on the agreement reached with government to pay our salaries within seven days of resumption. “We are optimistic because our governor has emphatically promised to pay our salaries within seven days,” Fadipe said. He said the union deemed it fit to suspend the strike after an extensive meeting with the state government.

NGO decries crime rates in Delta Elo ogwara WARRI

Non-Gover nmental Organisation, NGO, under the aegis of Center for Peace and Environmental Justice, CEPEJ, has decried the increase in criminal activities in Warri and its surrounding towns. Speaking with journalists yesterday in Warri, the National Coordinator, Sheriff Mulade, noted that the level of insecurity in the state was becoming unbearable and called on the state government to work out measures to fight against crime. Pointing out that it is

government responsibility to protect the lives and properties of her citizens, he advised that ‘’disciplined soldiers and mobile policemen’’ be stationed at flashpoint areas in Warri and its environs, adding that it will help reduce crime in such areas. Mulade, while noting that it was everyone’s duty to ensure a crimefree state for peace and sustainable development, added that security agents cannot do the job alone and urged the public to join in the war against crime by giving useful information to security and other relevant agencies.

L-R: Chairman, National Polio Plus Committee of the Rotary Club, Dr Tunji Funsho and other officials of the committee in handshakes with players at the opening of the 3rd World Polio Day National Para-Soccer Tournament in Abuja yesterday, right is the President of Nigeria Para-Soccer Federation, Mr Misbau Lawan-Didi.

Synagogue: Court rules on police objections Nov 2 walE IgbIntadE

ustice Ibrahim Buba of the Federal High Court Lagos yesterday fixed November 2, 2015 for ruling on preliminary objections in a fundamental rights enforcement suit filed by one of the two structural engineers who built the collapsed building of the Synagogue Church of All Nations’, Mr. Oladele Ogundeji. Ogundeji had sued the Lagos State Commissioner of Police, the Council for the Regulation of Engineering in Nigeria, the Attorney General of Lagos State and Mr. Oyetade Komolafe, the coroner who recommended him for criminal negligence over the death of the 116 persons who perished in the collapsed SCOAN building. The applicant is asking the court for an order of perpetual injunction restraining the Commissioner of Police in Lagos State from arresting, detaining, investigating or prosecuting him based on Komolafe’s verdict and recommendations. Besides, he also seeking an order of perpetu-

al injunction restraining the Lagos State Attorney General or any officer under his authority from initiating or commencing criminal proceedings against him based on the verdict of the coroner. During the proceedings yesterday, Ogundeji lawyer, Olalekan Ojo, told the court that his client considered the coroner’s verdict a nullity. He argued that there was no basis for the police to invite arrest or investigate him. “The fulcrum of the applicant’s case is that he was not charged with any offence before the coroner; he merely appeared as a witness and the coroner went on to indict him of criminal negligence and it is a nullity. “As far as this case is concerned, there is nothing against him; then what are the police acting upon? “The applicant is saying that his indictment by the coroner court is a nullity and being a nullity the 1st to 3rd defendants cannot on the basis of a nullity arrest, detain or charge the applicant to court” Ojo

said. But in their preliminary objections, the Lagos Attorney General and the coroner, represented by Mr. A.A. Bakare, argued that the engineer’s case was not fundamental rights enforcement in nature, but one intending to stop government agents from performing their statutory and constitutionally recoginsed duties. “Nobody has indicted the builder; all that was recommended by the coroner was police investigation and if found culpable, charge the builder to court. “The police have invited the applicant to ‘come and tell own your side of the story.’ Does that amount to human rights violation? “I would not want to contemplate that there is a law in this country preventing the police from inviting a citizen for questioning. He urged the court not to allow the applicant to obstruct the course of justice. In his submission, counsel for COREN, Mr. Abumere Osara, said the reliefs being sought by the engineer were not provided for under

Chapter 4 of the constitution. Osara said the engineer had not established that COREN had or was about to violate his right, adding that the engineer was subject to probe by COREN as a registered engineer practicing in the country. “COREN, a statutory body established by law, has the duty to investigate any of its members for professional misconduct. “What the applicant is asking is to prevent COREN from carrying out its statutory functions; it’s like asking the court not to hear a case or give judgment. “Even the highest executives in Nigeria are not immune to being investigated. The only being that I know cannot be subjected to investigation is God or Allah Himself,” Osara said. After hearing all the parties, Justice Ibrahim Buba adjourned the application till November 2 for ruling. The court also adjourned till October 23 hearing of the preliminary objections to a similar suit filed by the second engineer, Akinbela Fatiregun.

South West

Tuesday, October 20, 2015

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Ooni stool: Ife elders beg warring princes to withdraw suits B oladale BamigBola OsOgbO

Beneficiaries of presidential amnesty programme protesting over non-payment of allowances in Abuja, yesterday.

UNILAG distances self from alleged rape and student’s electrocution Saidat alauSa

anagement of the University of Lagos, Akoka, has distanced itself from the alleged rape of an 18-yearold admission seeker by Mr. Baruwa Akinfolarin and the electrocution of a student, Miss Oluchi Anikwe recently. Speaking at a press conference yesterday to brief the media and the public on the outcome of the report of the panel of investigation into the matter, the ViceChancellor of the University, Prof. Rahamon Bello, said the preliminary investigation established that Mr. Baruwa was not and has never been a staff of the department of accounting of the university where the incident allegedly took place. “He has never been involved in any teaching or performance of academic functions at the Faculty of Business Administration; his relationship with the university is hinged on his engagement by the Distance Learning Institute, DLI, as a project supervisor and invigilator during its residential programmes,” he said. He explained that though the university through its senate has approved regulation on sexual harassment, since both the alleged rapist

and the victim are neither the institution’s staff nor student, these measures would not apply. He however said that based on the strength of the findings on the remote and immediate causes of the incident, the university has resolved to take interest in the case and ensure that justice is meted out appropriately. On the electrocution of a 300-level student of the department of accounting, Miss Anekwe, the vicechancellor said the findings of the Federal Government panel established that the faulty cable which caused Oluchi’s death belongs to EKEDP and that they had instructed EKEDP to replace it and other similar overhead cables belonging to it with properly installed underground cables. Prof. Bello however said that contrary to what was published in the newspapers and stories going round, the university panel established that Miss Anekwe was professionally handled upon arrival at the medical centre, adding that “also, both the nurse and the doctor on duty confirmed she had no pulse on arrival and her pupils dilated, confirming that she was brought in dead to the medical centre.” He explained further that the panel also established that even with that both of

them still attempted CPR on her and that it was while attempting a CPR on her that she was placed on the hard floor. “The request for her identity was for the purpose of preparation of document with which her body would be transferred to the mortuary at the Lagos University Teaching Hospital, LUTH.” The VC also disclosed that in accordance with standard practice, while her body was deposited at the mortuary at

LUTH, an autopsy was conducted and the pathologist came to the conclusion that her death occurred within seconds to few minutes of contact with an 11kv electric cable which caused multiple burnt injuries to various parts of her body. “From the findings, coupled with the history of electrocution from an 11kva electrical wire, it can be concluded that the death occurred within seconds to few minutes,” he stressed.

fe Elders Forum, IEF, yesterday appealed to aggrieved ruling houses in Ile Ife to withdraw suits instituted over the vacant stool of Ooni. The forum, comprising traditional title holders, princes, head of princes (Ajo Sookoo), members of the Ife Development Board, Ife Progressives Forum, religious leaders and village heads disclosed this at a meeting held to find a solution to the stalemate in the selection process of a new Ooni. It declared that litigations surrounding the selection process were not in the best interest of Ife town and the entire Yorubaland. The forum however suggested that "the Sookos (princes) should appeal to the ruling houses to withdraw all pending cases in order not to cause undue delay in the selection process. It stressed that wellmeaning Nigerians are waiting for the vacant stool to be filled because of its importance, resolving that "even though there is obvious need for a review of the Ooni's Chieftaincy Declaration, the review should wait till a new

Ooni is in place since chieftaincy declaration cannot be amended during an interregnum." It also urged the kingmakers to ensure compliance with the requirements of law in their selection process, saying "the candidate should meet moral and ethical standards. Meanwhile, the Chief Judge of Osun State, Justice Adepele Ojo, has fixed Friday, October 23, 2015, for ruling on applications urging the court to interpret the 1980 declaration and the suit challenging the jurisdiction of the court on the cases before it. It would be recalled that the Lafogido and Osinkola Ruling Houses have approached the court, challenging restriction on the kingmakers not to search for a new Ooni outside the Giesi Ruling House.

Aregbesola

Coalition drums support for Ondo ministerial nominee ojo oyewamide Akure

s the Senate continues the screening of the remaining ministerial nominees today, the Coalition of Medium Powers, COMP, has drummed support for the ministerial nominee from the state, Prof. Omoleye Daramola. The coalition comprises five groups within the All Progressives Congress, APC, in Ondo State. They are the Advocators, Ajasin School of Thought, Conference 18, Asiwaju Movement of Nigeria and Jagaban Fans Club. Throwing its weight behind Daramola, the coalition said he is qualified to be

a minister in the country. Coordinator of the coalition, Sola Ajisafe, said yesterday at a press conference in Akure, Ondo State capital, that Daramola's pedigree as a sound academic and a financial member of APC qualify him for the position Ajisafe said: "Daramola has a sound academic profile and solid political antecedents in the progressive fold. He has shown that he loves his people and the APC by contributing his quota to its growth and development. "From the look of things, the APC leadership and the President prefer technocrats. Ondo State, being a highly enlightened environment, has one in Prof Daramola. "The President believes

in the capacity of Ondo State to provide a person of sound knowledge with emphasis on merits, efficiency, credibility, accountability and performance." The group stressed that any committed member of the APC in Ondo State would not go against the choice of the ministerial nominee. According to the coalition, the APC leadership in the state should be concerned about the 2016 gubernatorial election. "The challenge before us is to set achievable goals before the minister with respect to creating a platform where everyone would be accommodated and the struggle for Alagbaka which we expect him to lead will have to be undertaken without

fear or favour. "He must see himself as the ‘John, the Baptist’ and not a minister for ‘Apollo’ or ‘Paul.’ He must undertake a state-wide fence-mending activity to galvanise all interests in the party towards the historical objective of forming the party in Alagbaka come 2017. "He must also go further to ensure that the fortune of the party changes in the state, more particularly in the South Senatorial District in terms of membership of the party and votes during elections. "He must endeavour to create a listening ear towards all in the party, no matter their political interest or background," Ajisafe said.

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South West

Tuesday, October 20, 2015

Ambode tasks new commissioners on hard work ... swears-in 23 commissioners, 14 Special Advisers

FrancIs suberu

fter four months of solely running the affairs of the state without a cabinet, Lagos State Governor, Mr. Akinwunmi Ambode yesterday officially constituted his cabinet with the swearing-in of 23 commissioners and 14 Special Advisers. Ambode, who charged the commissioners on commitment to duties; urged them to work round the clock so as to ensure that the state fulfils its potentials. The new commissioners with their portfolio include; Gbolahan Lawal, Commissioner for Housing, Dr. Jide Idris, Commissioner for Health; Folarin Coker, Commissioner for Tourism, Arts and Culture, Seye Oladejo; Commissioner for Special

Duties and Inter-governmental Relations; Ganiyu Johnson, Commissioner for Works and Infrastructure; Mr. Oluwatoyin Suarau, Commissioner for Agriculture; Mr. Rotimi Ogunleye, Commissioner for Commerce, Industry and Cooperatives. Mr. Akinyemi Ashade, Commissioner for Economic Planning and Budget; Dr. Babatunde Adejare, Commissioner for Environment; Mr. Olawale Oluwo, Commissioner for Energy and Mineral Resources; Dr. Benson Akintola, Commissioner for Establishment, Training and Pensions; Dr. Mustapha Akinkunmi, Commissioner for Finance; Dr. Abdul-Hakeem Abdul-Lateef, Commissioner for Home Affairs; Mr. Steve Ayorinde, Commissioner for Information and Strategy.

Others are Mr. Adeniji Kazeem, Commissioner for Justice; Alhaji Musiliu Folami, Commissioner for Local Government and Community Affairs; Mr. Wasiu Anifowoshe, Commissioner for Physical Planning and Urban Development; Mr. Olufemi Odubiyi, Commissioner for Science and Technology; Dr. Ekundayo Mobereola, Commissioner for Transportation. Adebowale Akinsanya, Commissioner for Waterfront Infrastructure Development; Mr. Babatunde Durosinmi-Etti, Commissioner for Wealth Creation and Employment; Honourable Lola Akande, Commissioner for Women Affairs and Poverty Alleviation; Mrs. Uzamat Akinbile-Yusuf, Commissioner for Youth and Social Development. The Special Advisers and

their portfolios include, Mr. Ayodeji Tinubu, Special Adviser Sports and Chairman Lagos State Sports Council; Mr. Ganiu Okanlomo Sanni, Special Adviser, Food Security; Mrs. Yetunde Onabolu, Special Adviser, Urban Development; Mr. Kehinde Joseph, Special Adviser, Civic Engagement; Honourable Adebimpe Akinsola, Special Adviser, Arts and Culture; Dr. Olufemi Onanuga, Special Adviser, Primary Healthcare. Mr. Obafela BankOlemoh, Special Adviser, Education; Honourable Adeyemi Olabinjo, Special Adviser, Commerce; Prince Anofi Elegushi, Special Adviser, Transport; Mr. Babatunde Hunpe, Special Adviser, Environment; Professor Ademola Abass, Special Adviser, Overseas Affairs and Investment; Mrs. Ar-

L-R: Member, Osun State House of Assembly, Hon. Debo Akanbi; Minority Leader, Hon. Samson Makinde; host/Deputy Speaker, Hon. Akintunde Adegboye; Speaker, Hon. Najeem Salaam, and Hon. Olatunbosun Oyintiloye, during Adegboye's 56th birthday celebration in Osogbo, yesterday.

Court remands killer-policeman in prison Wale IgbIntade

n Ebute-Metta Chief Magistrate's Court yesterday remanded in prison custody a 28-year -old Police Corporal, Aremu Musiliu, who allegedly killed a mother of four at Isheri-Oshun area of Lagos. At the resumed hearing of the matter yesterday, Chief Magistrate Afolashade Botoku dismissed the bail application of the defendant and ordered that he be remanded in prison. Earlier, the prosecutor, Godwin Osuyi, told the court

that he had filed application of remand in prison custody before the court. But, the defendant's counsel in his application urged the court to grant bail to the defendant on health grounds. In her ruling, Magistrate Botoku upheld the arguments of the prosecutor stating that the defendant should be remanded in prison custody for the next 30 days pending the legal advice from the office of the Director of Public Prosecution, DPP. The defendant had been in the custody of the State Criminal Investigation De-

partment, SCID, Panti, before he was charged to court. It will be recalled that the defendant was first arraigned on September 18 on a two-count charge bordering on murder and causing grievous body harm. The prosecutor, Godwin Osuyi, had told the court that the defendant who is a Corporal, was attached to Isheri-Oshun Police Division, before he allegedly killed late Comfort Idongesit Godwin Sunday, and also wounded her husband, Godwin Sunday, with his official gun, AK 47, at Ijegun area of the state, on September 16,

2015, at about 8 p.m. Osuyi, had also told the court that Musiliu unlawfully shot the deceased dead with his AK47 rifle. The offence according to the prosecutor is punishable under sections 221 and 243 of the Criminal Laws of Lagos State of Nigeria, 2011. He urged the court to remand the accused in prison custody pending the legal advice from the Director of Public Prosecution, DPP. Consequently, Magistrate Afolashade Botoku ordered that the defendant should be remanded in prison custody for the next 30 days.

amide Giwanson, Special Adviser, Housing; Mr. Kehinde Bamigbetan, Community and Communications; Mr. Agboola Dabiri, Special Adviser, Central Business District. The Deputy Governor, Dr. Mrs. Oluranti Adebule was also assigned to oversee the Ministry of Education. Speaking at the swearing-in ceremony held at Adeyemi Bero Auditorium, Alausa Secretariat, Ikeja, Governor Ambode reminded the appointees that their primary allegiance is to the people of Lagos State, irrespective of creed and colour urging them to dedicate themselves to the service of

the state. The governor said that the state is currently experiencing rapid urbanisation and thus requires hard thinking solutions to develop befitting infrastructure to cater for the increasing population; adding that as the most promising city state in Africa, Lagos has all the ingredients to compete globally in all sectors. Ambode said Lagosians rely entirely on land transportation system, which has inevitably put pressure on road networks and traffic situation, urging his new team to develop ingenious means of transporting residents across the state.

Beliefs in spiritual healing is anti-good health —Doctor

care-free attitude to diseases owing to religious belief in spiritual healing is anti-healthy living as it puts people’s lives at risk, which may even cause sudden death. Doctor Folasade-Popoola Akinwumi, a specialist in treatment and management of diabetes, who made the assertion at New Bodija in Ibadan at the weekend, noted that malaria, common cold and headache could be deceptive precursors of serious diseases. She said that patients should not regard diabetes as a death verdict, noting that the dreaded disease could be managed to allow the patients enjoy a healthy and productive life. The doctor, who is the founder and Chief Execu-

tive Officer of Diabetes Educators, said that if a patient quickly sought medical solution immediately he or she started experiencing symptoms of the disease, the diabetic patients could live a healthy life despite the disease. She stressed the need to educate patients so that they could adjust emotionally to the disease. Diabetic patients, for their own good, must learn to develop healthy eating habit and incorporate physical activities into their daily routine. The CEO advised patients to regularly monitor their blood sugar to prevent diabetes complication which could engender heart disease, blindness, kidney failure, impotency in men and nerve damage.

Climate change increasing malnutrition, illnesses —Experts Franka OsakWe

he country is gradually plunging into malnutrition due to reduced food production caused by extreme climate events such as floods, droughts and wild fires, a health care specialist, Peters Omoragbon, said. Omoragbon who is the President Nurses Across the Borders, made the statement at the Lagos University Teaching Hospital, LUTH, during a training workshop on climate change mitigation, organised

by the association, in collaboration with National Association of Nigerian Nurses and Midwives, NANHM, LUTH branch, and Sea Trust Institute, USA. According to him, weather related disasters are becoming more frequent in the past four decades and this is affecting the nation’s health and ecosystems. “This has led to malnutrition due to reduced food production, spread of infectious diseases, and various water borne diseases like cholera, typhoid fever and enteric fever. "

South East

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

Abia governorship: Tribunal reserves judgment in Otti, Ikpeazu’s election petition

he Governorship Election Petition Tribunal sitting in Umuahia, on Monday, reserved Judgement in the petition filed by the candidate of the All Progressives Grand Alliance, APGA, Dr Alex Otti challenging the declaration of Dr Okezie Ikpeazu of the PDP as the governor of Abia State. Otti has asked the tribunal to declare him the rightful winner of the election. The News Agency of Nigeria, NAN, reports that parties in the petition adopted their final written addresses during the tribunal’s sitting on Monday. In his oral application

before adopting his final written address, Counsel to Ikpeazu, Chief Wole Olanipekun (SAN), raised objections regarding the filing of three separate addresses of 40 pages each by the petitioners. Olanipekun said that the Electoral Act allowed parties in election petitions to file only one address of 40 pages, adding that the petitioners’ counsel could only adopt one out of the 120-page written addresses. The objection was supported by the Counsel to the PDP, Chief Onyechi Ikpeazu (SAN), but Counsel for the Independent National Electoral Commission, INEC, Chief Solomon Awomolo (SAN), did

Anambra CP warns officers against corruption

nambra State Police Commissioner, Mr Hosea Karma, has urged Divisional Police Officers, DPOs under his command to work hard as non-performing officers would be shown the way out. Karma said this in Ogidi, Idemili North Local Government Area on Monday, during his familiarisation tour of Police formations under his command. He said the state government had provided the command with the necessary equipment to rid the state of undesirable elements. “The governor has his eyes on everything in a bid to protect lives and property of people in the state. “The police must be on their toes to complement the efforts of the government by ensuring that crime is reduced to its barest minimum, if not eradicated. “We must be up and doing to prove our worth in the society. Corruption is not allowed because you will be sacked, if caught. “Your uniform is your license, but if you abuse it, you have yourself to blame. Police officers that extort money or carry out other illegal activities should be ready to face dismissal,’’ he warned. Karma reminded them that no police officer was al-

lowed to join revenue agents to collect money in the state and warned that they should stay clear of civil cases or land matters in their own interest. He also reminded them that “bail is free” because whoever is caught taking bribe, would be dismissed. “Any DPO who is not ready to do this work or feels that he is too big to keep his phones on, should leave the force,” he said. The CP commended the DPO in charge of the division, Mr. Musa Hassan, for his efforts toward crime prevention in the area and urged him not to relent. “If I have my way, I will promote him to the next rank as a way of encouraging hard work, but I do not have the power,” he said. In appreciation, the CP gave the DPO and his men N30, 000 and commended the station also for keeping the environment clean. At Fegge Police Station, the DPO, Mr Rabiu Garba, listed some of the challenges confronting the station to include, inaccessibility of the road during rainy season due to poor drains. Garba listed some of his achievements to include, the sinking of water borehole, construction of security post, donation of a 17 KVA generating set and fencing of part of the barracks.

not join them. In his argument, counsel to the petitioners, Chief Rotimi Akeredolu (SAN), said the arguements of the respondents, that the petitioners should be limited to a 40-page address to their three different addresses ‘’does not stand for justice.’’ Akeredolu said that the argument by the respondents ``is standing justice on its head,’’ adding that they did not cite any law to support the application. He added that considering that the three respondents filed separate addresses, raising different issues the law allowed the petitioners to reply to their addresses distinctly. Akeredolu said ``it is late in the day for the respondents to file oral ap-

plication,’’ after they had filed their replies to the petitioners address without raising an objection. The tribunal chairman, Honourable Justice Usman Bwala, overruled the objection and allowed the adoption of the 120-page petitioners’ address in reply to the respondents’ final addresses. Adopting their addresses, Olanipekun, Ikpeazu and Awomolo urged the tribunal to dismiss the petition, saying that the reliefs sought by the petitioners are ``ungrantable’’. They argued that the petitioners failed to prove their allegations of irregularities and substantial non-compliance to the Electoral Act. Akeredolu, while

adopting his address, however, urged the tribunal to give judgment in favour of the petitioners. He said the petitioners conceded that elections were duly conducted in 14 out of the 17 local government areas of the state. Akeredolu said that the petitioners only contested that election did not take place in Obingwa, Osisioma, Ugwunagbo, Isialangwa North and Umuahia North Local Government areas. He stated that on that ground, the burden ``has shifted to the respondents’’ to prove that that elections were duly conducted in those areas. Akeredolu added that unfortunately, the respondents failed to do so, adding that ``even INEC did

not call any witness to prove that it conducted elections in the three council areas’’. While adjourning the case for judgment, the chairman said the date would be communicated to the parties in due course. Meanwhile, the Judge had warned all the parties in the petition to refrain from sponsoring uncharitable publications that might denigrate the integrity of the tribunal. He warned that appropriate measures would be taken against offenders. Bwala was referring to an advertorials in the newspapers which were brought to the notice of the tribunal by Olanipekun, who alleged that the content questioned the integrity of the judges.

L-R: Deputy Commandant, Nigeria Security and Civil Defence Corps (NSCDC), Enugu State, Mr. Samuel Dan; Commandant, Mr. Stephen Lar-Kaiyo, and Public Relations Officer, Mr. Denny Manuel, during a press conference at the parade of suspected pipeline vandal in Enugu, yesterday.

Clergy asks FG to ban illegal possession of arms AliunA Godwin AbAkAliki

he Bishop of Anglican Church, Diocese of Abakaliki, Rt. Rev Monday Nkwoagu, has tasked the Federal Government to prohibit unauthorised persons, especially students from carrying up arms that leads to the destruction of the country. The Bishop who made this known at the sixth synod of the church which

took place at the Cathedral of All Saints, in Abakaliki, lamented the increasing crime rates in the country. "The increasing carrying up of arms coupled with the insurgency, endemic armed banditry, kidnapping for ransom and ritual killings, our society will be doomed and worse off for it.’’ Nkwoagu lamented that carrying of arms if not curbed, will endanger the growth of the country and

called on all men of God to ensure adequate spread of the word of God, especially in campus to deter students from carrying up arms. "Children who grew up in an environment without prayers, word of God and rebuke as correctional measures will certainly see nothing bad in carrying up arms without any form of provocation and shoot to death fellow students." He called on President

Muhamadu Buhari not to be deterred in his quest in fight corruption in the country. "The Synod is in agreement with the views expressed against corruption by President Muhamadu Buhari that If we do not kill corruption, corruption will kill us." It is corruption that robbed Nigeria of infrastructures such as motorable roads, availability of electricity etc," he stated.

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News

Tuesday, October 20, 2015

Stop deductions from teachers’ salaries, NUT warns Niger govt Priscilla Dennis MinnA

L-R: Member, Governing Council of Ozoro Polytechnic, Delta State, Mr. Joe Adigwe; Chairman, Hon. Solomon Funkekeme; Governor Ifeanyi Okowa; his deputy, Barr. Kingsley Otuaro; members, Chief (Mrs.) Oti Agoba and Hon. Gabriel Alebe, after the swearing-in ceremony at Government House in Asaba, on Monday.

Kano Assembly approves Ganduje’s request to obtain N20bn loan

ano State House of Assembly has approved a request by Governor Abdullahi Ganduje to obtain a loan facility of N20 billion from the state’s bailout fund to attend to some financial challenges affecting the state. Chairman of the House Committee on Finance and Economic Development, Alhaji Abubakar Zakari, said this while presenting the committee’s report on the governor’s request.

ObiOra ifOh AbujA

eoples Democratic Party, PDP, has alerted the president of the Court of Appeal, Justice Zainab Bulkachuwa, of alleged reports of undue interferences, emanating from her office in the activities of various election petition tribunals and other judicial cases. PDP's national publicity secretary, Chief Olisa Metuh, in a statement in Abuja on Monday, said such development could ostensibly sway judgment against the PDP in favor of the All Progressives Congress, APC. He said: "While we would not want to believe that the president of the Court of Appeal is so involved, given the sensitivity of her office, we wish to caution in very strong terms that such is completely unacceptable as

He said the House approved Ganduje’s request after the committee had thoroughly studied the proposal. Zakari added that after studying and analysing the request, the House found that there is need for the state government to obtain the loan. The chairman said the governor, in his letter to the House, had said that the loan, if approved, would enable the state government pay pensioners. Ganduje, he added, said

the loan would also assist the state government to pay salaries of newly employed health workers and other civil servants. According to him, the House also recommended that the state government prepares and forward to it a supplementary budget on the bailout funds. This, he said, became necessary so the House could legislate and subsequently approve the loan before any disbursement is effected.

The chairman said the bailout fund introduced by President Muhammadu Buhari was to ensure that all state governors settle pending financial challenges in their states. He said without the loan, the present government in the state might not be able to deliver on some of its campaign promises. “The House also advised the state government to ensure judicious spending of the fund for the approved purpose,” Zakari said.

PDP alleges interference by Court of Appeal in election tribunals it principally detracts from the sanctity of the judiciary as the citadel of justice and erode the trust reposed on it by the people. "We expect the president of the Court of Appeal to understand that an impartial judiciary is critical to the survival of our democracy and the stability of this nation. In this regard therefore we urge her to ensure that there is no further interference in electoral matters in tribunals and courts, as they must be allowed to run through the full course of justice." PDP also reiterates its earlier call on the Chief Justice of the Nigeria, Justice Mahmud Mohammed, to guide jealously the independence of the judiciary which he heads, and ensure that

iger State government and its union of teachers may soon be heading for a clash, if deductions from the emolument of its members, allegedly made to carter for computer training and purchase of IPAD devices for those teaching in secondary schools are not stopped. It was learnt that in order to run the programme, N2,200 is being deducted each month from salaries of each teacher in any secondary school. The programme was started last year by the immediate past administration of Governor Muazu Babangida Aliyu. That government, it was gathered, entered into an agreement between it and a non-governmental organisation, NGO, to train secondary school teachers to be computer literate as well as ensure they have IPAD computers. Under the agreement the government is to bear 40 per cent of the cost of the scheme, while the teachers shoulder 60 per cent. But, findings revealed that while the teachers kept to their part of the bargain, the government allegedly reneged on its part; hence, forcing the NGO to stop the programme abruptly with only a small percentage of the teachers benefiting from it. Against this backdrop, the state chapter of the Nigerian Union of Teachers, NUT, wrote a letter of protest to the Ministry of Education, demanding an immediate stop to the deductions from salaries of its members.

In the letter - a copy of which is in possession of our reporter - sent to the permanent secretary, Ministry of Education with the title: ‘Re-Internet Training and Supply of Zinox IPAD Tablets for Secondary School Teachers in Niger State,’ dated October 14, 2015 and signed by Comrade Labaran Garba, NUT’s assistant secretary, the union stated that no deduction should be effected from the salary payroll of secondary school teachers as September 2015 is the last month for the payment of the 60 per cent ZPAD agreed upon by the teachers. The union’s letter reads in part: “The union further wishes to advise the Ministry of Education to request the NGO to provide a detailed report on the training programme, zone by zone, from inception to date." "The continued silence and non-response by government to pay the 40 per cent balance for the training and the ZPAD systems would compel the union to take a more lawful alternative step that will press home her members’ demand." It however expressed hope that the issue would be taken with the seriousness it deserves. However, efforts to reach the permanent secretary, Ministry of Education, Alhaji Shuaibu, did not yield result, but a senior official in the ministry who does not want his name in print confirmed receipt of the letter. He added that aside the letter, the ministry received other ones and is working on them, adding that soon, the deductions would stop.

any activity that tends to undermine the sanctity of this arm of government is stiffly resisted in the interest of democracy. "In any case, the PDP restates that it will continue to closely monitor proceed-

ings in various tribunals and other judicial cases, and will use every means within the ambit of the law to ensure that nobody, no matter how highly placed, interferes in judicial matters, especially political cases," he said.

NAMA test-runs navigations facilities

igerian Airspace Management Agency, NAMA, has started test-running some navigational facilities to make the nation’s airspace safer. The facilities include the Automatic Dependent Surveillance-Contract/ Controller Pilot Data Link Communication, ADS-C/CPDLC. This news was contained in a statement signed by the acting general manager, public affairs of NAMA, Mrs. Olajumoke Adetona, on Monday

in Lagos. The statement said the test-run commenced recently at the Lagos Area Control Centre, ACC, and was witnessed by the managing director of NAMA, Mr. Ibrahim Abdulsalam. It said the director general of the Nigerian Civil Aviation Authority, Capt. Usman Muhtar, and the managing director of the Federal Airports Authority of Nigeria,

Mr. Saleh Dunoma, also witnessed the event. According to the statement, a successful log-on and communication with airlines such as British Airways, Lufthansa Airlines and Emirates Airlines was activated to the admiration and excitement of the aviation chiefs. The statement named other airlines that had also logged on to the service as Arik Air, Ethiopian Airlines

and Etihad Airlines. "Consequently, NAMA has issued an Aeronautical Information Circular, AIC, to aviation stakeholders worldwide, including airlines, service providers and the ICAO on the availability of ADS-C/CPDLC in the Nigerian airspace. "The AIC is aimed at sensitising stakeholders on the commencement of the service in the country.

North

Tuesday, October 20, 2015

Lalong extols Gowon’s virtues at 81 James abraham JOS

lateau State Governor, Hon. Simon Bako Lalong, has described former Head of State, General Yakubu Gowon as a man of abiding faith in the project called Nigeria. In a statement signed by Director of Press and Public Affairs, Government House, Mr Emmanuel Nanle, in his congratulatory message to the former Head of State on the celebration of his 81st birthday, the governor

noted that General Gowon has relentlessly offered service to his fatherland with courage and vigor in order for the labour of past heroes never to be in vain. The governor said the state celebrates him on the addition of a year and added that Plateau State is proud of his effort of going on with one Nigeria has proven to be a success. He prayed God to grant the celebrant more wisdom, skill and good health to continue to give to the upliftment of humanity.

Borno IDPs want camp established in neighboring Yobe village

nternally Displaced Persons from Borno State taking refuge in neighbouring Kukareta village in Yobe State have appealed to Borno State government to establish a camp for them at the village.

Alhaji Usman Wakil, a community leader and spokesman of the IDPs made the appeal on Monday in an interview with the News Agency of Nigeria, NAN. Usman said refugees numbering over 1,000, were displaced from seven communities some months ago. He said Yobe State Government had provided them with food items, but was inadequate, hence the need for Borno State Government to come to their rescue. Alhaji Garba Bilal, Rescue Officer of Yobe State Emergency Management Agency, SEMA said the agency had distributed a substantial quantity of assorted food items to the refugees in Kukareta. The Rescue officer said Yobe State Government established two camps at Pompomari, with a population of 3,011 IDPs and Bukar Ali Elkanemi, with a population of 391 IDPs.

He said there were complete camp structures, with a Camp Commandant, as well as security agents handling the welfare needs and safety of the IDPs.” According to him, international agencies like Unicef, ICRC, UNHCR, ACF and NRCS have also provided support to the IDPs in camp. “Let me say with all sense of responsibility that the state government has provided all the basic needs required to make the IDPs comfortable in the camp,” he said.

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Al-Makura hands over N4.2bn bailout cheque to LGs Igbawase UkUmba LAFIA

asarawa State Governor, Umaru Tanko Al-Makura, yesterday handed over a cheque of N4.2billion bailout fund to local government areas in the state to enable them pay salary arrears of council workers. The governor performed the cheque hand over ceremony at the Lafia Government House where he cautioned local government officials that the bailout fund is not a continuous augmentation, but rather a short term intervention into the dwindling finances experienced by some tiers of

government in the country. He said that the N4.2billion bailout is would only enable them to pay up to September, thereafter the councils would have to source for other sources to augment the situation pending when the economy would stabilised. He blamed the ugly financial situation being experienced by local councils in the state on ghost workers, calling on the councils officials to expose persons receiving salaries more than what they are supposed to be earning. Accordingly, the governor added that with

the presentation of the cheque to the councils, the stage is now set for payment of the local governments’ workers’ salaries arrears in the state any moment the ongoing biometric documentation at the council areas is completed. Al-Makura was however, quick to state that the state government has never failed to pay workers on its payroll as salaries of that categories of workers in the state are been paid up-to-date. Meanwhile, Al-Makura has signed a Memorandum of Understanding, MoU, with a Chinese firm, Tongyi Groups, for the construction of an airport

in Lafia, the state capital. Under the MoU, the Tongyi Groups is to pay 75 percent of total cost needed for project, while the Nasarawa State government would pay the remaining 25 percent for a period of six years even as the governor said the firm would as well construct a highway from the airport to the Federal Capital Territory, FCT. Chairman of Tongyi Groups, the firm handling the project, Mr. Algreen Zheng, appreciated the state government for given the firm the opportunity; hence he promised to deliver the airport project according to specifications.

L-R: Executive Commissioner Legal and Enforcement, Securities and Exchange Commission (SEC), Sa’adatu Bello; Executive Commissioner, Corporate Services, Hon. Zakawanu Garuba; Director General, Mounir Gwarzo; Emir of Kano, Muhammad Sanusi II and Kano State Governor Abdullahi Umar Gaduje, during a one-day regional round-table on non-interest capital market organised by SEC, yesterday.

Adamawa pays N9.57bn bailout funds to civil servants

LIvInUs menedI YOLA

damawa State Government has begun the payment of salary arrears and allowances owed its workforce. The payment, which began yesterday according to the state Commissioner of Finance Budget and Planning, Alhaji Mahmood Sali, was made possible by the N9.58billion bailout fund received by the state government. Sali who announced the commencement of the disbursement of the bailout fund said the payment covers all salary

liabilities, pension arrears, leave grants and transport allowances owed its workforce for 2013, 2014 and 2015. Explaining the cause of the delay in the payment of the bailout fund, Sali noted that the Central Bank of Nigeria, CBN, only approved N2.38 billion for the state initially, adding that the state governor who was not satisfied directed the Accountant General of the state and all the key government agencies to make another representation which led to the release of N7.2 billion. “In accordance with the guidelines of CBN and the arrears of state

and local government emoluments available, the total sum of over N18 billion was applied for, from the bank at the initial stage. “The amount was made up of different components including arrears of salary for the month of May 2015, pensions, gratuity, leave, transport grants for two years and other staff claims. The CBN, however, made an offer of only one component which was arrears of salary for both state and local government amounting to two billion, three hundred and seventy eight million, three hundred

sixty thousand naira only N2,378,360,000.00),” he said. According to him with the release of N7.2 billion comprising the component left out by the apex bank the total bailout funds offered to the state from CBN through Zenith Bank Plc stood at N9.578 billion. But the governor, Bindow, he said, consequently directed the finance team to work out modalities for the payment of all outstanding salary liabilities, pensions, leave transport for 2013, 2014, 2015 and other staff claims for state local government, the judiciary and House of Assembly.

The governor, Sali said, also directed the payment of furniture allowances for the permanent secretaries which he stressed is to be captured inside the N7.2 billion loan. Governor Bindow in his remark at the presentation noted that his administration is for the masses and therefore stressed that it was critical for the government to be transparent and accountable. Bindow, who said he has authorised the payment of the bailout funds observed that he did so with dispatch because its workforce deserve the best.

Tuesday, October 20, 2015

SUPER TUESDAY We must support Buhari’s effort at repositioning Nigeria –Suswam

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Politics

14, 43

How PDP, APC chieftains plan to make Bauchi one party state EzEkiEl TiTus BAUCHI

ince the emergence of Muhammadu Buhari as the winner of the 2015 presidential election and his subsequent official take over as Nigeria’s democratically elected president, corrupt officials in Nigeria generally and Bauchi in particular have become jittery, as they know that it is no longer to be business as usual. This victory of Buhari was well received both locally and internationality more so, that Nigerians are desperate to catch up with the All Progressive Congress, APC change mantra. Apparently devastated by poverty and unemployment as well as the insecurity challenges, the change mantra became irresistible in Bauchi state. No people seems to be closer to the battle ground as the people of Bauchi and the negative consequences of Boko Haram insurgency on the socio-economic and political development in the North-east during the tenure of the PDP administration made , the people to reject the PDP’s call for continuity. Buhari had promised Nigerians that he will effect positive changes and that he would overturn the mess created by the PDP in its sixteen years of leadership and people were yearning for the changes . It was believed by many that the PDP was not firm on corruption. Buhari’s leadership direction and clear intolerance for corruption was subscribed to by the Bauchi state Governor Mohammed Abubakar. He even added that he will ensure an all inclusive government where the commonwealth is effectively and judiciously distributed along the needs of development in the state. Abubakar had sworn to trace all looted funds allegedly stashed away by the immediate past administration of Isa Yuguda. This was in reference to the past government’s claim that it bequeathed to the APC administration over N125 billion. President Buhari and Governor Abubakar stand against corruption appears to put many corrupt officials in the country and Bauchi state in fear especially those who believed to be the engine room of the eightyears of PDP administration in Bauchi . This development has really driven cold into the spines of some top political players in the last administration as not a few are said to be worried on how to escape the wrath of both Buhari and Abubakar and they believe the only real option for them is to jump ship into the ruling party. It was gathered that there has been secret political meetings between Governor Mohammed Abubakar and top PDP chieftains in the state. The PDP chieftains such as former national chairman, Adamu Mu’azu, former Governor of the state, Isa Yuguda, former FCT minister Abdulkadir Bala Mohammed are said to be planning to join APC. It was learnt that these politicians from the PDP and Governor Mohammed have hurriedly put their differences behind and had settled whatever differences that might have arising from the 2015 elections that finally consumed the PDP both nationally and at the state. It would be recalled that the crisis in Bauchi PDP was

Abubakar

Yuguda

The problem is how presidenT buhari would Take The planned

pdp bigwigs especially yuguda who had beTrayed The all nigeria peoples parTy, anpp in The pasT

defecTion of

so fierce that the resultant decimation was so serious and the centre was unable to hold leading to a crushing defeat in the hands of APC in the 2015 elections. It was also believe that the lack of unity in the party explains why former president Goodluck Jonathan was floored in the state during the election even with the array of PDP heavyweights in the state. A reliable source confided in National Mirror that the business mogul, Alhaji Aliko Dangote who is a close ally of Yuguda is said to have set the pace for the heavy politicians in the state to move to the APC. The problem is how President Buhari would take the planned defection of PDP bigwigs especially Yuguda who had betrayed the All Nigeria Peoples Party, ANPP in the past having used the Buhari’s popularity and influence and Northern agenda to unseat his bosom friend, Adamu Mu’azu before emerging as governor in 2007, only for him to defect to PDP. It would be recalled that shortly after assumption of

Mu’azu

office, Yuguda dumped the ANPP and joined the PDP. Also Mu’azu, Yuguda, the incumbent Bauchi state governor, Mohammed Abdubakar were all friends during their earlier years, but things fell apart with the entrenchment of the nascent democracy with each of them fighting for particular political interest and not for the interest of their people. Pundits are of the view that other reasons why the PDP chieftains may be opting to quit the PDP to join the APC is to cut the rising political popularity of the CONTINUED ON PAGE 45

Politics

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

We must support Buhari’s effort a Former Governor of Benue state, Dr. Gabriel Suswam in this interview with DOOSUUR IWAMBE speaks on challenges he encountered while in office; the probe panel set up to investigate his administration and President Muhammadu Buhari’s war against corruption among other issues. Excerpts: What were the challenges you encountered while serving as governor of Benue State? I started here sixteen years ago in the House of Representatives and I ended up in Benue State as the chief executive of the state for eight years. Like every other human being, we are all mere mortals and bound to make mistakes, to certain failings we have weaknesses; nobody is perfect. Best is a relative term, what I considered my best, might not be the best to others but I think I did my best for the State as far as my eight years was concern. Most people will not agree with me but some will. I have refrained from joining issues because as governor, I know the heat especially in Benue state, as you know, Benue is one of the toughest States to govern because I know what that state entails and for somebody who knows so much and has personal experience, I would want the present occupant of that state to operate in peace. In-spite of the bashing, the insinuations, the rumour, the insult, you will observe that I have kept sordid silent, very few issues have I commented on. It’s not to say that I cannot respond or join issues but it is expected that after occupying such a sensitive office, it is important to maintain that level of maturity. No amount of provocation should make you make comments on some certain things. Most outsiders do not know how the running of the government goes, and so there are so many insinuations especially with the current trend of office in the country where everyone is shouting corruption. You will observe that the same people who are shouting corruption today are those who in the past were engaged in same act of corruption. Corruption is not just people taking money; it could be moral corruption, most time Nigerians swing like pendulum, if someone comes right now and take a different approach that is where they will swing to. We need our country to be on the part of development and be focus, if the genuine effort of the current leadership is geared towards the part of development, then we should all support it. When they talk about corruption, the focus is on some of us that are exposed but how about the driver you send to buy something for three thousand naira and he comes back telling you it was bought for five thousand naira? I believe that the approach of the current leadership is probably to start with the big fish in other to put fear in the smaller fishes, therefore I urged all Nigerians to support the genuine and legitimate efforts of this administration which is aimed at repositioning the country. I have no fear but we are in a democratic setting where the Rule of law is paramount and I believe that in addressing those issues, following the code of conduct should be ultimate goal in other to avoid the violation of the rights of the citizens. How will you react to the allegation that you left an empty treasury while leaving office? The constituents’ part of this country that comprises of the thirty six states depend on one source of revenue that comes to the state from the federation account. Money is shared from the federation account every month and that money is shared based on certain indices and it covers salaries, overheads and some few capital projects. For some states that are cosmopolitan, they have other sources of internally generated revenue but such states are very few in this country. You can mention them, Lagos, Rivers, Kano and Akwa-Ibom. They are very few and maybe because of their cosmopolitan nature, they will be able to generate internal revenue so they add that revenue to the only source which they have, the Federation account. The bulk of the states de-

pend solely on that federation account. There is no state that belongs to this category of depending solely on the Federation account that will boast of leaving money behind. How is that possible? Because first, the money comes, you pay salaries, you do projects, even if you are not doing projects, salaries alone will consume the entire money and so when somebody says that you left an empty treasury, it amuses me because when I assumed office, I met nothing. In almost all of the states of the Federation, there is no governor that left office that will confidently boast of leaving money behind except that governor did not execute any project. When the former governor of Borno State said that he left over N60 billion, it was Local government money, no local government project was executed in that state, the governor was just taking the money and keeping it. Leaving money behind can be achieved only when no projects are carried out but then at whose expense? It means that at the end of your tenure you will have nothing to show for the years of governance but if you are doing projects and you are paying salaries, there is no way you will say that you are leaving any money behind. Even states that I mentioned earlier that have other source of revenue, they are the highest indebted states. Lagos State that was generating over twenty something billion as monthly revenue was said to be the highly indebted State according to the reports that was released; you will also recall that just few weeks ago, the president approved over 200m dollars for the state. Look at Rivers and Akwa Ibom states, they all have a very high debt profile, Benue State is the least indebted state from the record that was published. There is no way under the circumstances that we find ourselves that any outgoing governor will talk about leaving money behind. As you all know, I was doing a lot of projects in the state, some of which I could not even complete because there was no money. If you come in newly and you don’t understand the nuances of government, you are bound to make such statements. Most of such statements are intended to make you popular and paint the outgoing administration in bad light. But with time, after you understand the way the system operates, you won’t be able to talk again. It hasn’t gone long, I was reading in the papers few days ago that the governor cannot pay salaries because the money is not enough, and I laugh because Ortom has spent just four months in office. That is the situation that I faced but mine was even in the last six months of my governance and I left just salaries of four months unpaid. There are current governors still serving, that currently owes workers salaries more than what I left behind. Some of these issues the current administration is raising are issues that are intended to reduce the outgoing administration in the eyes of the people and paint it bad but I’ve taken all that in good faith because I seek for political leadership and I must also be ready to pay for the consequence that comes with it. It is true that under our present situation, the way our fiscal federation were, we depend on the federation account as the only source of revenue, there is no way that one will say that he left money behind. What is your position on the sale of Benue Cement company? Benue state has an investment company that was set up with the sole purpose of looking at the interest and presiding over the interest of the state government in business areas. You know that it will be difficult for the normal running of government, the bureaucracy and

Suswam

I was readIng In the papers few

cannot pay salarIes because th laugh because

ortom has spen

all of that to run some of these things, so we incorporated a limited liability company to be an investment portfolio on behalf of government. Benue state has over the years bought into a lot of companies and the Benue Investment Companies saddled with the responsibility of trading in those equities was doing most of those things. That is their responsibility and you know the equities are not supposed to be stagnant, it is a continuous trading and investment process and where government also needs some money and the BIPC has some money it can borrow because it is owned by the government. Majority of those shares were sold before I became governor. UAC, Julius Berger, First Bank, Benue Cement all

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Tuesday, October 20, 2015

A PUBLICATION OF NATIONAL MIRROR NEWSPAPERS

Flood submerges three communities in Rivers Dennis naku

PORT HARCOURT

o fewer than 2000 people in three communities in Ahoada West Local Government Area of Rivers State have been rendered homeless due to heavy flooding which occurred at the weekend. The flooding was caused by heavy downpour and the phased release of water from the Ladong Dam in Cameroon which caused the Orashi River to overflow its banks. The three communities affected are: Akinima, Joinkrama and Obie in Ahoada West Local Government Area of the state. An indigene of Akini-

…renders 2000 homeless ma community who gave his name as Blessing said about 1000 people were affected in his community. “Not less that 50 buildings have been affected in Akinima. So for, not less than 1000 people have been displaced in Akinima community. Our farms have been destroyed and crops washed away by the flood. We need an urgent intervention from the government,” Blessing said. The former Caretaker Chairman of Ahoada West Local Government Area, Ikechukwu Obusu, who visited the affected areas in the three communities expressed shock at the severity of the flood.

Obusu said, “I feel very sad and unhappy. The people are suffering. A lot of those affected have left their homes. And there is no help. I really share their pains. So, I will work tirelessly to ensure that they get some form of assistance. “They need food and place to stay. We have to activate a camp for those who have been displaced immediately. We must arrange temporary shelter for them as soon as possible.” The immediate past CTC chairman expressed the hope that his successor would soon be appointed so that he could

take charge of the rescue efforts, adding, “it is the duty and responsibility of the local government to give those affected some temporary abode. “This is a challenge for the local government. I want to speak with the Head of Department and find out what measures he intends to put in place to cushion the effect of the flood on our people in the absence of a chairman in the council,” he stated. One of those affected said the flood had destroyed the first floor of his building and called on the government to come to their aid. Also, a trader who said

L – R: Wife of the deceased, Mrs Margaret Alamieyeseigha; wife of former President, Dame Patience Jonathan and wife of the Bayelsa State Governor, Dr (Mrs) Rachael Dickson, during a condolence visit to the wife and family of late Chief DSP Alamieyeseigha, over the death of the former Governor, at his residence in Port-Harcourt.

Kolo creek attack: JTF intensifies investigation OsahOn Julius YENAGOA

he headquarters of the Joint Task Force, JTF, nicknamed operation PULO SHIELD, yesterday said it has embarked on a detailed investigation into the attack at its checkpoint located at Kolo Creek Flow Station, Ogbia LGA of Bayelsa State. The incident which occurred on Thursday 8, October 2015, claimed the life

of one Shell Petroleum Development Company staff, Mr Austin Igwe, and loss of weapons. The investigation is aimed at fishing out the culprits and preventing a recurrence of such incident. A statement signed by it spokesman, Lt. Col. Ado Isa, said following the attack, the Commander of the outfit, Maj. Gen. A.G. Okunlola visited the location for on the spot assessment.

“Eye witness account revealed that the gunmen riding in two black coloured Sports Utility Vehicles opened fire at the checkpoint at about 0530am, during which one staffer of the SPDC, Igwe, was hit by the attackers’ bullet which led to his death. The unit has been ordered to get the culprits apprehended and the arms carted away recovered.” It added that efforts

were being intensified to contain the emerging security threats of armed attack and sundry crimes by unscrupulous elements within Joint Operations Area. The commander further gave assurance of the readiness of Operation PULO SHIELD to work with other security agencies to tackle any threat to peace and security in its area of responsibility, including Bayelsa State.

he relocated to Akinima community because of his business lamented that the flood had affected his residence. “As I speak, my property are in three different places. I am a stranger in this village. I, my wife and children do not have any where to go to. I don’t know where we will spend the night. “We are currently seek-

ing refuge in my shop. Flood also affected us in 2012. Now, the flood is here again. We need help,” he said. A farmer in one of the affected communities further lamented: “We make a living from the cassava and plantation farm and since we cannot convey our cassava and plantain from the farm there is no food to eat. The people are hungry.”

Why we suspended four LG chiefs —Oshiomhole

overnor Adams Oshiomhole of Edo State has given further explanations on what led to the suspension of four local government chairmen, saying their suspension had nothing to do with the political calculations leading to the 2016 gubernatorial elections in the state. Speaking yesterday at the swearing-in of Prince Joe Okojie as a Commissioner in the state Executive Council and Mr. Busari Yesufu as Chairman, Etsako West Local Government Area of the state, Oshiomhole said: “Today, we have ensured that with all the crisis in Nigeria, when many state governments are unable to pay salaries, I am proud to say that in Edo we are paying. However, some of these local governments, for some reasons were not able to pay salaries as and when due and we have looked at some of their books, we have received some petitions, it is true that finances are low but even if your finances are low, you also need to cut your wastages. “We looked at the locally generated revenue, in many cases, these locally generated revenue are never reflected in the books of the local government. It’s just generated and paid directly to some of the local government chairmen. There have been several other abuses and I am proud to say that when the new local government chairmen were sworn in, I

made sure all the revenue accruing to local governments before we conducted elections, were left in the treasury of the local government so the local governments could use them judiciously to develop their various localities. “I know for example in Akoko Edo, we had more than N560 million that they inherited because I directed the Heads of Service of the Local Governments not to spend the money of the Local Government. Some inherited N600 million, N400 million accruing from previous years and of course, all the debts which their predecessor incurred, we made sure that all of those were paid. That is how far we have gone, whereas, in some states, the Local Government money comes and the Governor just spends it, in Edo State, we don’t do that and we will never do that and if any future governor wants to do that, I will expect the local government chairmen to react. “Now if we give you so much free hand, and we help you to save so that you can use the resources to develop your area and in the end you put us in bad news, you are not able to pay salaries and while you are not paying salaries, you are employing your relatives, you are employing all kinds of characters and you are diverting resources to projects that are of no benefits to the people and at the same time, emCONTINUED ON PAGE 16

Tuesday, October 20, 2015

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Insurgency: Don’t negotiate with Boko Haram, Bishop warns Buhari RichaRd Ndoma CALABAR

he Bishop of Anglican Communion, Rt. Rev. Tunde Adeleye, has charged the administration of President Muhammadu Buhari (PMB) not to negotiate with BoKo Haram as such negotiation would amount to insult on the reputation of Nigeria since the sect is

not established by law. Adeleye gave the charge while fielding questions from journalists shortly after delivering a speech during the first session of the 9th synod of the diocese billed for October 21, at St. Peters Cathedral Ogoja. Speaking on the theme, “He has made all things beautiful”, the cleric urged President Muhammadu Buhari not to ne-

gotiate any thing with he Boko Haram sect because the organisation is not created by any law. “Discussing with them will amount to insult on the integrity of the Nigerian nation. The terrorists don`t deserve any form of negotiation. Negotiating with these terrorists in my opinion is an indirect way of creating acknowlegement of the criminals. I think

what should be done now is what the government is doing now. By the grace of God they will be conqured,” Adeleye added. The Anglican Bishop of the Diocese of Calabar, also decried electricity outage in Calabar metropolis even as he charged the management of Port Harcourt Electricity Company of Nigeria, PHCH, to expedite action in the

restoration of electricity within the Calabar metropolis and its environs. The cleric maintained that the incessant power outage had caused the church to spend about six thousand to fuel the church generators in his resident and that of the church, adding that the church now struggle to pay its staff due to the blackout as funds meant for salaries were

sometimes swarped to purchase diesel to power the generators. “I feel very sad, I spend about N.6m on diesel in a month. Some people said there is an improvement in power supply, but I can`t see it! I think this is wickedness; I am angry about it. If not for God we would not have had money to pay salaries of church workers,” he said.

CRHA gets list of commissioner nominees from Ayade RichaRd Ndoma CALABAR

he Cross River House of Assembly (CHRA) yesterday said it has received a list of 28 commissioner nominees sent to the Assembly by governor of the state, Ben Ayade. Chairman, House of Assembly Committee on Media/Information, Mr. Nelson Ofem, revealed this in Calabar during an interactive session with journalists. Ofem who also represents Yakurr I state constituency in the assembly said that the list would be unveiled on today at the floor of the assembly, stressing that the assembly would ensure thorough screening of the nominees in order to access their content and credibility. A list of 28 commis-

sioner nominees has been sent to the assembly by the governor. We will do a thorough screening of the nominees to ensure that they have no corrupt charges against them. We will cite their original credentials and ensure that they are fit to head our ministries. Any nominee who does not have the content and intellect, we may write to the governor to withdraw such a person and send in another candidate’’, he said. The legislature gave assurance that the commissioner nominees would be screened and confirmed before the end of October this year. We have the 2016 budget ahead of us; we need to urgently screen and confirm these nominees so that the governor can assign them to different ministries’’, Ofem added.

Why we suspended four LG chiefs —Oshiomhole CONTINUED ON PAGE 15

ployees of the local government who are working for you for 2, 3, 4, 6 months, you are not paying them and we have evidence that you are still involved in some elements of mismanagement, we can’t continue like that. “We needed to make a statement that all of us are accountable, that everyone is accountable and that was the reason we took those measures. Government will always be fair but we also have to be firm. We must ensure that Edo State must not join the club of states that over a period look back and they can’t see what difference they

have made in the lives of their people. “We are setting up enquiries to investigate all of these allegations and depending on the finding of the panels, we will know what to do next and I want to assure our people that we respect the autonomy of our local governments, we recognise the rights of an elected official to manage the resources of his governments but we also have a duty to ensure that public funds are not diverted by local governments or by any one for purpose other than what is good for the people of their locality.

L-R: Bayelsa State Governor Seriake Dickson; Chief Judge, Justice Kate Abiri and President of the Customary Court Of Appeal, Justice Daniel Ayah, during a condolence visit to the Governor by a delegation from the State Judiciary over the death of the 1st Civilian Governor of the State, Late Chief Diepreye Alamiyeseigha at Government House, Yenagoa, at the weekend.

C’River bans sale of tickets, collection of levies RichaRd Ndoma CALABAR

he Cross River State Commercial Transportation Regulatory Agency (CRTRA) said it has banned sales of ticket and collection of all levies in the state by the Coalition of Commercial Drivers. The regulatory authority said the ban followed the provisions of Part V, Section 21 and 22 of the Cross River State Commercial Transportation (regulatory and monitoring) Agency Law No 2 of 2010. Consquently all commercial transport operators and intending transport operators in the state are therefore expected to register with the agency. Chairman for the Cross River Transport Regulatory Agency CRTRA, Mfon Bassey, disclosed this

while briefing journalists on activities of the agency stressing that the agency had observed with dismay the recent happenings in the transportation sub sector that was hampering the smooth operation of its statutory duties. In order to arrest the ugly trend and create enabling environment, the agency banned all collections and levies. “The legalisation of unpainted taxis (off-colours) is still in force and registration of such category of vehicle is ongoing. Members of the public who are already using their unpainted vehicle for commercial purposes and those who wish to, are advised as a matter of necessity to come to the agency and register to obtain the requisite operational license and permit. The sales of off-colour ticket are still in force,”

the CRTRA boss stated. The Franchisees (AUT, CUT, JOFINO, Eburutu Lines and Cross Lines) according to the chairman are advised to desist from setting the public and commercial drivers against the agency through peddling of false rumours and misinformation on the activities of commercial transportation regulatory agency. The chairman urged commercial transport operators and the general public not to allow themselves to be used by a very few selfish individuals to foment trouble and disturb the peaceful nature of the commercial transport subsector. He charged members of the public and commercial transport operators to always approach the agency’s office in Calabar to make inquiries and get clarification on issues

bordering on ticketing, registration, renewals and enforcement in the commercial transportation subsector. Similarly, the CRTRA boss, also lauded the lawmaker representing Southern Senatorial District of the State, Sen. Gershom Bassey, Hon. Essien Ekpenyong Ayi, member representing Calabar South, Akpabuyo and Bakassi Federal Constituency and Hon. Prince Okon Ephraim, member representing Calabar South 1 State Constituency for defeating all their opponents at the just concluded election petition tribunal which sat in Calabar, adding that the unanimous decision entered by the judges at the tribunal was a reflection of the integrity and diligence on the part of the tribunal officials in handling their assignment.

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Tuesday, October 20, 2015

Ministerial list: Why leave out the youth? SUNDAY ONYEMAECHI EZE

he ministerial lists President Muhammadu Buhari recently sent to the Senate did not offer at least one active young Nigerian the opportunity to demonstrate his/her strength and ability in leadership and in the art of governance. With the kind of assurances, energy and time invested in the selection of ministerial nominees, one expected the President to break away from the old tradition of political party “compensatory appointment” and embrace a new perspective of blending proven technocrats with exceptional youths and politicians in his cabinet. The amalgam of APC/CPC and personal friendship of nominees with the president was predominantly at play. Adebayo Shittu, the nominee from Oyo State was a CPC gubernatorial candidate in Oyo State in 2011 elections. The nominee from Kebbi State, Abubakar Malami, was the CPC national Legal Adviser. Senator Hai Serika was a former Senator under CPC and an APC chieftain. Osagie Enahire, the nominee from Edo was Buhari’s state campaign coordinator. Amina Mohammed and Suleiman Hassan were of Afri-Consortium, a key consultant to PTF when Buhari was chairman of the fund. Although many of them came with outstanding wealth of experience in public service, some have no reason at all to be on the list. The long awaited list of “noise

makers” was nothing short of old wine in a brand new bottle. Chief Audu Ogbe is a man whose intellectual senility is residual at this moment of our national life. Thirty three years ago, when the likes of Bukola Saraki were in the Kindergarten, he was a minister. What more could be said? The need to encourage Nigerian youths by offering them drivers’ seat in national leadership deserves the consideration of our political parties. Political parties should provide the youth a platform for civic engagements, formation and membership of political parties, standing for elections, guarding democratic tenets and leadership growth. At the recently held International Youth Day Celebration, President Buhari commended Nigerian youths for the key role they played in making the 2015 general elections a model for democratic governance in Africa. He noted the high rate of unemployment among youths, but assured that his party would deliver on its promises to the youth. The President also promised to provide an enabling environment for private sector to thrive so as to ensure greater opportunities for our young people. Buhari, however, excluded those who made his election a model from being active players in the decision-making process of his government. A typical Nigerian youth is bedeviled with problems of unemployment, poverty, modest access to quality health care and education; insecurity and other social welfare packages. It is estimated that about 40 percent of

THE NEED TO ENCOURAGE NIGERIAN YOUTHS BY OFFERING

THEM DRIVERS’ SEAT IN NATIONAL LEADERSHIP DESERVES THE CONSIDERATION OF OUR POLITICAL PARTIES Nigerian youths are unemployed and about 100,000 of them graduate from various tertiary institutions annually throughout the nation and even abroad. Many of these graduates have been forced to take up menial jobs in order to make both ends meet. They now drive cabs, “okada” and tricycles bought by parents, relatives, friends, or through their savings or those provided through government intervention programmes. Nigerian state should massively invest in job creation and provide enabling environment for it to thrive. The alien impression created that employment opportunities and successful economies of the world mainly grew with robust private sector participation amounts to abdication of responsibilities by the state; this should be jettisoned immediately. Without jobs, there cannot be stability in the polity. Boko Haram has become a daredevil menace because idle mind is the breeding ground for the Devil’s manipulations. Job creation in itself is another way of wealth creation. A comprehensive yearly and most essentially

new sustainable youth intervention programme targeted at taking idle minds away from vices should be introduced while the ongoing ones should be sustained and broadened to accommodate many more. The youth themselves, as partners in progress in nation-building, have a big role to play in salvaging their situation. It is no longer fashionable for them to fold their arms and wait for manna to fall down from heaven as in the days of old. The truth is that government alone cannot shoulder the employment responsibility of everybody. Therefore, this is the right time to put on the thinking caps. Engage in one meaningful entrepreneurial skill that will in the long run translate to selfreliance and if possible qualify one as employer of labour too. It pays handsomely to learn to become a fashion designer, soap maker, carpenter, welder, bead maker, artist etc. The nation could only have success stories when government firstly provide enabling environment including seed fund or primary financial support base to make this an accomplishment. Secondly, government should formulate favourable policies aimed at strengthening the financial institutions, especially the banking sector which will encourage them to stand resolutely behind the government in pursuit of youth-oriented programmes. Eze, a media and communications specialist, wrote via sunnyeze02@ yahoo.com and can be reached on 08060901201

Surrogacy as technological necessity IYKE OZEMENA

hichever way you look at surrogacy, also known as artificial insemination, or in vitro fertilization (IVF), it portrays man (scientists) as “playing God”. From time immemorial natural reproduction has been patented to God, the creator of the universe. If you also patent bareness to God there would be no other conclusion than seeing the challenge of “playing God” by man when he in his research found surrogacy, as solution. Another name for a baby born through surrogacy is ‘Test Tube Baby’, coined through the process of their birth. Two medical scientists that researched and successfully performed this feat in 1968 were Dr Robert Edward and Dr. Patrick Steptoes. The feat was controversial for not being welcomed by all and sundry. They were called outrageous and satanic names by religious individuals and groups. Similar stigma cleaved on to medical scientists that introduced cloning. According to Wikipedia ‘cloning’ is the process of producing similar populations of genetically identical individuals that occur in nature, when organisms such as bacteria, insects or plants reproduced asexually. Apart from family planning adopted in modern times, it is also on record that abortion is still a controversial issue across the world. In spite of health and medical benefits that support its acceptance, till date abortion is regarded as unethical practices around religious circles. Perhaps, it is for the same

reason that heart transplant, which is tantamount to losing the patient’s soul, is also condemned However, the necessity of surrogacy has become commonplace globally. The first successful surrogate child, Louise Joy Browne, was born on 25th July, 1978 at Oldham General Hospital, the United Kingdom. The ordeal and stigma experienced by Lesley and John Browne, parents of Louise, are beyond imagination. Just as much as Louise passed through harrowing experiences while growing up, it did not stop a technological necessity whose time has come. Today thousands if not millions of person across the world have gained life on earth through this controversial process called ‘surrogacy’. Historically pursuit of knowledge and research has been controversial as claimed by prophets, soothsayers, clairvoyants; even the birth of twins was a taboo in Calabar until Mary Slessor intervened to stop the practice. In Nigeria, ‘surrogacy’ entered the medical lexicon on February 11, 1998 when Miss Hannatou Kupchi became the first baby born through IVF. So 17 years down the road, more Nigerian babies have been born through that process; courtesy of Dr Wada of Nisa Premier Hospital. The family of Hosea Kupchi is now proud of 17 year old Hannatou, who recently gained admission into a medical school in far away Hungary. For her, the chosen course of medicine is obvious and logical. As she embarks on this journey of medical adventure Hannatou would soon discover that 37 years after the global break through of the first tube, there still exists enormous

IT IS QUITE SOOTHING AND FAITHFUL TO BELIEVE IN CREATION AS A GRAND DIVINE AND INTELLIGENT DESIGN legal obstacles, stigmatization, cultural inhibitions, religious abomination as well as ethical condemnation around it. The issue has gone viral and attracted comments from across the globe and all strata of the society. As a student grappling with sociology I had questioned a British biologist, Charles Darwin, who authored evolutionary theory of natural selection that gave credence to the belief that man evolved from apes. So I am a refined ape, or a gentleman whose great grandparents were apes. On the other hand, it is quite soothing and faithful to believe in creation as a grand divine and intelligent design. I have often wondered what could have happened if God had created Adam as a day old baby. It would have been a disaster if one considers the harsh environment in which cave men grew up. It appears that man has successfully ‘created’ day old Adams and Eves because there are human guardians and hospitals to nurture them to full adult lives, the same way natural reproduction proceeds. For couples that have come to the end of the road in search of natural birth of kids these arguments go to no issue. Having been

overwhelmed by a problem which many other couples took for granted, the only comment that appeals to their ears is that concerning the possibility of surrogate baby. And so tell me more what appears to be the response of people in this unfortunate situation. First the cost cannot be said to be affordable to average families. Yet, there are legal obstacles but they are not insurmountable when you consult experts. Generally, the legal issues to be considered about surrogacy are quite a handful. It is possible that some communities, organizations or state still do not endorse surrogacy, so first and foremost there must be conducive legal environment for surrogacy to proceed. A proper agreement would forestall a situation where a surrogate mother delivers after disagreement, or willfully retains the child. Then wahala! The agreement would also detail the process of transferring parental rights as well as custody of the baby to the couple that paid for In Vitro Fertilization (IVF). Although the physical state and health of the donor and surrogate mother are medical, the necessary consent and process should be a clause in the agreement, including the place of the entire process. Iyke Ozemena is of IKECHUKWU O. ODOEMELAM & CO (Corporate Attorneys/Consultants) Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: mail@ nationalmirroronline.net mirrorlagos@ yahoo.com or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.

Editorial

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

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

Buhari and headship of oil ministry

ot a few antagonists of President Muhammadu Buhari’s desire to head the Ministry of Petroleum Resources would kick triumphantly into the air in celebration of a recent report that the Presidency had reversed the decision. Presidential spokesman, Mr. Femi Adesina, while in New York, United States late last month with Mr. President, who graced the 70th United Nations General Assembly, quoted him (President Buhari) as saying he would be the Minister of Petroleum Resources, but would be assisted by a junior minister who would take charge of the day-to-day affairs in the ministry. Indeed, the arrangement was said to be the rationale behind Buhari’s nomination of the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, to join his cabinet. Latest reports strongly suggest, however, that the Presidency has jettisoned the idea, following another report credited to Adesina, which said: “He (Buhari) cannot be President and oil minister at the same time. He will supervise the ministry, so there will be no petroleum minister. Maybe he will appoint a Minister of State”. It is, however, obvious that President Buhari caved in to the pressure mounted by critics, especially the opposi-

tion Peoples Democratic Party (PDP), which interrogated the propriety of a man from one state (Katsina) occupying the position of President, Minister of Petroleum Resources – oil being the country’s major foreign exchange earner – and possibly appointing another minister from the same Katsina State to fulfill constitutional obligations. Perhaps more importantly was the sabre-rattling by the National Assembly, which insisted that the President would be subjected to screening in line with extant rules, should he nominate himself for the position of oil minister. But whereas the Presidency has been cowed into dropping the idea of formally saddling himself with the job of Petroleum Minister, his decision to leave the position vacant and allow the ministry to be run by a Minister of State under his watch, will, in our view, serve the originally intended purpose, considering the President’s intense interest in curbing the mind-blowing sleaze and underhand deals dogging the nation’s oil sector. The latest of the long list of monumental scandals would be the recent arrest of the former Petroleum Resources Minister, Mrs. Diezani Allison-Madueke, in the United Kingdom, though granted bail shortly after pending the raising of formal charges and arraign-

October 20, 1976 The ferry ‘George Prince’ was struck by a ship while crossing the Mississippi River between Destrehan and Luling, Louisiana, United States. Seventy-eight passengers and crew died and only 18 people aboard the ferry survived. The nautical disaster occurred in St. Charles Parish, Louisiana, US. George Prince was struck by the Norwegian tanker, SS Frosta, which was traveling upriver.

WHAT MATTERS IS WHAT SANITY IS BROUGHT TO BEAR ON THE OPERATIONS OF THE OIL INDUSTRY;

HOW LESS CORRUPT IT BECOMES; AND WHAT

VALUE IT ADDS TO THE LIVES OF

NIGERIANS

ment in a London court. The UK National Crime Agency (NCA), according to reports, seized $41, 000 from the ex-Petroleum Minister, following claims of bribery and alleged attempt to launder a whopping sum of 13 billion Pound Sterling (the equivalence of roughly N3.9 trillion). It is, however, baffling that the President’s consummate interest in retrieving the oil sector from the cesspit of graft was trivialised and politicised, notwithstanding his vast experience in the oil sector, as well as his outstanding level of integrity which the entire nation acclaim. It was under Buhari, as oil minister under the military administration of the then General Olusegun Obasanjo that the NNPC was established; and most of the nation’s refineries constructed between 1977 and 1978. Like one commentator rightly pointed out lately in one of the national

ON THIS DAY October 20, 1982 During the UEFA Cup match between FC Spartak Moscow and HFC Haarlem, 66 people were crushed to death in the Luzhniki disaster. The disaster was a deadly human crush that took place at the Grand Sports Arena of the Central Lenin Stadium in Moscow, Soviet Union (USSR; now Russia) during the UEFA Cup second round match between FC Spartak Moscow (USSR) and HFC Haarlem (Netherlands).

dailies (not National Mirror): “… At every turn when Nigerians have had to enjoy some social benefits from the nation’s oil endowments, Buhari has always been the one driving such benefit to the people. He has first-hand knowledge of the construction of many of the crude oil refineries in the country. Recall also that during the days of the late General Sani Abacha administration, he manned the Petroleum Trust Fund (PTF) successfully”. Indeed, throughout his stint with the oil industry, Buhari acquitted himself with commendable integrity, notwithstanding the mud raked up about his management of the PTF apparently to tar his image during the last electioneering. We do not consider Buhari’s wish to head the oil ministry as a totally strange phenomenon, considering the fact that former President Obasanjo experimented with same during his second coming as the country’s civilian leader. What matters is what sanity is brought to bear on the operations of the oil industry; how less corrupt it becomes; and what value it adds to the lives of Nigerians. In the end, Buhari as head of the oil ministry would be at no special cost to the nation, as the country would save revenue that would otherwise be guzzled by a sitting Minister of Petroleum Resources.

October 20, 2011 National Transitional Council rebel forces captured ousted Libyan dictator, the late Muammar Gaddafi, in his hometown of Sirte and killed him shortly thereafter. Gaddafi was a Libyan revolutionary and politician, and the de facto ruler of Libya for nearly 42 years. Taking power in a 1969 coup d’etat, he ruled Libyan Arab Republic from 1969 to 2011, when he was ousted in the Libyan civil war.

Business

Tuesday, October 20, 2015

Drops in property prices spur market 29

Experts seek nationwide replication of BoI/UNDP renewable energy initiative

National Mirror www.nationalmirroronline.net

Heritage Bank packages N200m facility for graduate entrepreneurs 21

AIRLINES’ FLIGHT SCHEDULES Med-View Airline

Mining site

FG intensifies drive to boost non-oil revenue As a way of staving off economic crisis associated with the sustained slide in oil prices at the international market, the Federal Government has continued to adopt a combination of monetary and fiscal policy measures aimed at jacking up non-oil revenue accruals through exploration of non-oil sources, including taxes. Experts however believe that rapid diversification of the economy holds the key to sustainable fiscal system stability in the country. SYLVA EMEKA-OKEREKE reports.

ike other commodity exporting countries searching for alternative investments and revenue generation opportunities to close the fiscal gap associated with the current crash of oil prices, the Nigerian government is adopting new policy measures geared towards raising revenue base from the non-oil sector of the economy. For instance, government had already commissioned a report to

ascertain possible alternatives to oil and gas and the report listed agriculture, solid minerals and manufacturing as alternatives. On taking over the reins of power about five months ago, President Muhammadu Buhari had said his administration would boost domestic manufacturing while attracting greater investments to the nation’s agricultural and mining sectors. According to him, the problem fac-

We are doing our utmost best to encourage diversification into these sectors of the economy,

Which can employ a lot of people

ing the country was due to the fact that the nation’s manufacturing, agricultural and mining sectors were abandoned by the past administrations. “We are doing our utmost best to encourage diversification into these sectors of the economy, which can employ a lot of people. Long before Buhari’s administration, experts said they advised past administrations to diversify to be able to withstand the test of time, saying they did not take the expertise advice, leading to the precarious situation. Investigation by National Mirror reveals that the new government is already thinking of huge investments into agriculture, solid minerals, IT among other sectors as well as revenue generation through taxes to stem the tide of reces-

sion In furtherance of its renewed non-oil revenue generation drive, the Federal Government directed the major revenue collection agencies, including the Federal Inland Revenue Service, FIRS, and the Nigeria Customs Service to increase their collections by plugging all areas of leakages. Similarly, about six weeks ago government also commenced the implementation of the Treasury Single Account, TSA, policy by which revenue collected by the various MDAs are lodged into a dedicated account on daily basis to forestall leakages and allow government know at the end of which day, how much has been raked into the Federation Account. Expectedly and in line with CONTINUED ON PAGE 20

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

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

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

Business News

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

FG intensifies drive to boost non-oil revenue CONTINUED FROM PAGE 19

the mandate given his agency, the Acting Executive Chairman, Federal Inland Revenue Service, FIRS, Mr. Babatunde Fowler, promised to collaborate with the relevant stakeholders to shore-up tax revenue and improve on the country’s tax administration. According to him, the new change of leadership at FIRS is predicated on the resolve of the Presidency to ensure maximum increase in tax revenue as the era of absolute dependency on oil proceeds was over. The FIRS’ boss said that the FIRS must take the lead in the tax revenue collection and must be ready to share information and ideas with the States Board of Internal Revenue (SBIR) in order to take tax administration in the country to another level. He clarified: “My vision and mission is neither to alter the existing management organogram structure in FIRS nor lay-off management staff from their duty posts, but to take FIRS as well as the nation’s tax system to an enviable height. “This we cannot achieve all alone without a robust partnership and collaboration of all stakeholders within and outside the system. We must build a synergy for a healthy exchange of information between FIRS and SBIR. “This synergy will produce the best form of revenue generation in the FIRS and the states in general as well as ensuring that over dependency on oil revenue becomes a thing of the past,” Fowler explained. He said that the antidote to the economic mire was for the Service to raise revenue accruing from tax collection to “records high” so that government programme would be well funded. Similarly, the Comptroller General of the Nigeria Customs Service, Col. Hameed Ali, (rtd) had also promised to increase the capacity of the Service in terms of revenue collection, adding that beyond that he would ensure that all outstanding duties on imports are collected from all debtors. For instance, Ali at the weekend vowed to recover ran estimated N23.6billion owed the Federal Government by some rice importers including Olam Nigeria Limited and Stallion Group arising from unpaid duty from rice imports. The new Comptroller General of the service pointed out that though the changeover of the leadership in the agency caused some delay in recovery of the debt, the debt would be fully recovered He said: “We will collect our money, no going back on that. The money is for Nigeria and so there is no reason why we should leave any kobo in the hands of the debtors and so we must collect all”, the CG insisted. “The service would apply every lawful and legitimate means in ensuring that all the monies were collected, we would go step by step in achieving this and we will follow due process in going about collecting what belongs to Nigeria. This is not negotiable”, Ali vowed. Noting that diversification is the only key to stem the tide of possible economic woes, an economic analyst, Boniface Echendu said, unless urgent steps were taken the state and Federal Government to arrest the growing economic trend, Nigeria might be

Buhari

It Is crucIal that the Federal Government know the dIFFerence between systematIc and unsystematIc rIsks as well as understand that by dIversIFyInG, It can mItIGate exposure to systematIc rIsks

heading to serious recession, hence oil, the major foreign exchange earnings is gradually dwindling. Speaking on the growing need for diversification of the economy as only viable option to achieving fiscal efficiency and macroeconomic stability in the country, a university don, Prof Chineyere Okunna, told National Mirror during a programme of the United Nations Development Programme in Oyo state that unless Nigeria diversifies to other viable sectors, the nation’s economic recovery would not be achieved. She said: “We have been depending on oil alone for too long. We must as a matter of urgency, veer into non-oil sectors of the economy. Solid mineral is there, the industrial sector. We must try to make those areas attractive while making oil sector unattractive. “Long before now, Nigeria was doing very well in agriculture, we had booming palm oil sector, we had cocoa, we had groundnut pyramid and they were servicing the nation’s economy, but suddenly, we left those areas and concentrated on oil, which is presenting affecting us. We have no choice now, but to diversify to solid minerals as well as other sectors of the nation’s economy”, Okunna posited According to her, beyond that real estate also has the potential to increase the revenue base of the country over time, saying return on investments is very encouraging. While urging the Federal Government

to quickly diversify to other sectors, she noted that a country with fast growing population like Nigeria could earn extraordinary income from non-oil sector. Similarly, another academic and Professor of Economics, Prof. Sarah Anyanwu, also supported the call for diversification of the Nigerian economy as a strategic option of tackling the current fiscal problems of the government. According to her, the nation’s economic activities have not been optimal due to the dwindling revenue accruals from crude oil export, pointing out that the need to diversify the economy is more imperative now than ever before. Anyanwu, who is the Head of Economics Department at University of Abuja, specifically listed agriculture, mining, functional tourist centres and manufacturing sectors as sources that can be explored to create job opportunities and reduce poverty. She said: “We need to come back to reality and not cast all our eggs in one basket.This problem has multiplier effects, as the poverty level is rising, standard of living generally is falling and unemployment is on the increase. “The productivity of workers who have not been paid will fall. So we need to diversify our economy in order to solve the problem at hand,’’ Anyanwu said. Other experts say during such recession, the economy shrinks and the purchasing power of the citizens would drop, forcing investments to lose value, adding that non-oil

has inherent ability to absorb rising recessions. “Non-oil sector is unique, as it could weather the storm of oil recession, a researcher had noted while disclosing that the sector has the ability to produce huge revenue as well as appreciate in value at the same time. In addition, it has potential for huge revenue to the state and federal governments. Besides, the sector could generate more employments. Such investments, according to experts add more benefits of tax protection for investments as the sector is not as fragile as the oil and gas sector. They however noted that agriculture, solid minerals and manufacturing sectors are like a commercial bank, from where cash could be accessed as at when needed. This could be through export of the products to other countries of the world. While revealing that non-oil sector is one of the safest forms of investments, experts also noted that the sector has the potential for huge returns on investments amid high turnover. Research has shown that non-oil sector is an integral part of the emerging economy, driving the global economy. Currently, the rise of emerging economies is also increasing competition among investors as well as the investment community. The growths of the emerging markets, according to economic pundits are creating new investors as well as economic managers, spurring the growing competitions in global economy. These projections are coming on the heels of the federal government’s planned move to reform the non-oil sector of the economy. Looking ahead of 2016, economic expects say they have confidence that the economy would bounce back with non-oil sector. While opinions have divergent opinion over the growth of the sector, observers say its potential varies from countries to countries, depending on the availability of infrastructure. Diversification is a key to building block to the nation’s financial plan, including understanding what diversification does and how it helps countries in overall financial standing. It is crucial that the Federal Government know the difference between systematic and unsystematic risks as well as understand that by diversifying, it can mitigate exposure to systematic risks. Recently, a mortgage banker, Mr Wale Alaka told National Mirror, that the Federal Government must design ways of diversifying to improve the economy, noting that it is the only way government can withstand the test of time. While noting that the purchasing power of Nigerians are on a downward trend as there is less money in circulation, he said proactive economic measures should be taken by government to arrest possible economic collapse. Experts have also warned that, unless urgent steps were taken by the Federal Government to stem the tide, the growing financial squeeze might worsen the situation as investors may lose huge investments.

National Mirror www.nationalmirroronline.net

Business News

Tuesday, October 20, 2015

ELAN canvasses equipment leasing for healthcare sector Tola akinmuTimi

he Chairman, Equipment Leasing Association of Nigeria, ELAN, Chuka Onwuchekwa, has advised stakeholders in the Nigerian healthcare sector to maximise equipment leasing as a cost-effective means of sourcing for their increasing equipment needs. The ELAN boss gave the advice at the Healthcare Financing Conference organised by the Healthcare Federation of Nigeria (HFN) in collaboration with ELAN. The event with the theme, “Equipment Leasing as an Innovative Healthcare Financing Mechanism” was organised as part of the efforts by the Healthcare Federation of Nigeria to seek alternative financing options for its members aimed at repositioning the healthcare sector for better service delivery. According to him, globally, technology is now driving the healthcare industry and most of the effort is concentrated on capital investment in modern medical equipment to meet the increasing demands of healthcare services. Onwuchekwa pointed out that the overall healthcare industry is influenced by several factors, such

as demographic change, rising healthcare expenditure, increased incidence of chronic disorders and the widened horizon of the private healthcare sector driven by the emergence of Health Maintenance Organizations (HMOs) and Medical Insurance. He explained further that all these result in increased need and demand for advanced and efficient medical equipment to facilitate effective diagnosis and treatment, thereby putting healthcare providers under constant pressure to match the pace of innovation in medical technology and offer optimal treatment and care despite budget constraints. He clarified: “Considering the volume of funding required to facilitate substantial development, appropriate initiatives and funding mechanisms for addressing the problem must be sought. Leasing is considered one of the appropriate financing options that can be used to facilitate access to the much needed equipment necessary to address the infrastructural challenges and improve service delivery in the sector. Indeed, leasing has gained significant global recognition as a creative financing alternative for the acquisition of capital assets. “In Nigeria, it has continued

Heritage Bank packages N200m facility for graduate entrepreneurs …rewards outstanding youth corper

eritage Bank Limited has packaged a N200 million loan facility for young graduates willing to advance their dreams in small scale businesses. according to the bank , the facility is a revolving soft loan which comes with a financial and management advisory to support National Youth Corps members who upon passing out demonstrate serious intentions of starting up small scale businesses. This is even as the Bank also gave a cash prize to Miss Onwura Onyinye Chima for outstanding performance during the service year that won her the Lagos State NYSC Director’s Award. Chima, 23, a graduate of Microbiology from Federal Polythecnic, Nekede was posted to Army Children School, Ojo, Lagos for her primary assignment. While in the school, Cyril Akhanehme, the Lagos State NYSC Co-ordinator said Chima was dedicated, hardworking and diligent. Speaking during the passing out parade of the Corps members at the Orientation Camp in IpajaLagos, Mr. Ola Olabinjo, Executive Director, who represented the Managing Director of the bank,

congratulated the young graduands for a successful service year and commended the NYSC for its commitment to youth development. He said: “The country is facing huge challenges and you hold the key to solutions. As you venture out into the workforce or enterprise, you owe yourself and future generations to be the catalyst for change.” He explained further that the strategic thrust of the Bank was hinged on the future, which translates into creating, preserving and transferring wealth across generations, adding that this remains the basis for the setting up of a department for the youth by the bank. Olabinjo emphasised that the idea of the loan became necessary because small businesses form the engine of the economy, saying “with a business, you can bequeath a legacy that will outlive you.” he added. Recently, the bank re-affirmed its business principle to empower more Micro Small and Medium Enterprises (MSMEs) in Nigeria. The Managing Director, Heritage Bank, Mr. Ifie Sekibo, pointed out that part of the bank’s commitment to empower SMEs was the launch of an SME Clinic that will be geared towards helping small businesses.

to contribute to the nation’s development, improving the economic landscape and wealth creation. In the last 10 years, the leasing industry added assets worth over N4.8trillion to capital formation in the Nigerian economy”, Onwuchekwa added. In 2014, outstanding lease volume was estimated at N869 billion, up from N780 billion in 2013, representing a growth rate of 11.3 percent. The impactful visibility of leasing is increasing in various sectors of the economy and exhibits a brighter future given its developmental attributes. Currently, there is positive devel-

opment going on in the leasing industry following the enactment of the Equipment Leasing Act, 2015 which will spur the Equipment Leasing sector to have an exponential effect on productive equipment acquisition process in various industries and sectors of the economy. Essentially, leasing can provide healthcare institutions and practitioners with easy access to state-of-the-art medical equipment that would aid their daily operations without waiting to accumulate enough capital for the procurement of such medical

equipment. He listed the benefits of leasing to the healthcare sector to include, no collateral requirement, flexible payment options, opportunity to upgrade medical equipment in line with medical technological advancements, opportunity to upgrade with little or no down payment, freed up capital for other immediate expenditures, 100 per cent or more financing which include

hardware, software, installation, maintenance, training, all of which can be encompassed in the lease contract”.

From left, Chief Executive Officer, Chellaram Plc, Aditya Chellaram; Group Head, Food and Beverages, Keystone Bank, Ladi Garba and Chief Operating Officer, Afro Beverages Distillers Limited, Reuben Onwubiko at the Afro Beverages and Chellarams product launch in Lagos..last Thursday.

Rural electrification projects get Senate’s support uDEmE akPan

here are strong indications that rural electrification will improve as the legislators move to ensure funds are released for execution of projects. The legislators raised this hope when Nigerian Electricity Regulatory Commission Commissioners paid a visit to the Senate President, Bukola Saraki. The lawmaker indicated that a resolution would soon be taken to enhance the release of pending funds to the Rural Electrification Agency (REA). While briefing the Senate President and members of the Senate Committee on Power on the performance of the power industry in the light of the electricity reform, NERC’s Chairman, Dr, Sam Amadi urged Senator Bukola to use his good office to initiate the resolution that would enhance the release of funds to the REA, because the law demands Senate’s authorisation.

‘’The law demands that at the end of each fiscal year, money not expended by us is put in a special account for the sole use of the agency. The money is there, the Senate has not given the resolution authorising us to transfer the fund to the REA’’ Amadi said. The Commission’s helmsman assured NERC was committed to its mandate of ensuring fair pricing and affordable tariff for consumers, making sure they are protected, in response to one of the questions by the Senate President on how e Commission is able to tackle what he described as ‘impunity’ of some licensees that have failed to live up to their responsibilities of meeting their license terms and conditions. Senator Saraki urged for sanction to be meted on those found to be violating the terms of their license, this was even as he stated that the relationship between the Commission and its operators was to agree that they will be allowed to recover prudent

profit. ‘’Section 76(2) provides for the Commission to adopt appropriate tariff methodology within the general principles established in the Act, which allows recovery of efficient cost including a reasonable rate of return, gives incentives to improve efficiency and quality and sends efficient signals to customers on costs they impose on the system’’. Meanwhile, the Manufacturers Association of Nigeria has inaugurated a 9-man committee on how to make electricity available to the real sector. MAN’s President, Dr. Frank Jacob, who read the terms of reference to the committee, noted that electricity challenge to indus-

tries can be surmounted if a legal framework can be provided to help the association reduce cost of production. He urged the committee to complete its assignment within a week so as to fast track further processing of engagement with the Federal Government.

Business News

Tuesday, October 20, 2015

Stakeholders seek review of CBN’s policy on excluded import items rEgIna otokpa

ome stakeholders in the financial sector have identified lapses in some of the recent policies of the Central Bank of Nigeria (CBN) which they want reviewed in the overall interest of the economy. Specifically, they sought the apex bank’s rethink on the suspension of forex funding for 41 items, in view of what they termed its impact on forex reserves and exchange rate stabilisation, as well as the Nigeria’s trade policy and the economy. The experts spoke at a recent forex dialogue organised by the Policy Development Facility Phase II (PDF II), a DfID programme, and the Nigerian Economic Summit Group (NESG), which held in Lagos, stakeholders took a closer look at CBN’s recent Forex policy with the aim of reviewing its short and long term effects on businesses. The policy, which was, introduced on June 23, 2015, suspended foreign currency funding for about 41 imported items, which are considered a strain on Nigeria’s already dwindling foreign reserves. The policy, which was met with mixed feelings, affects various business sectors and SME products, ranging from vegetable oil to Palm Kernel, wooden fabrics, and toothpicks among other many items. In his remarks during the panel discussion sessions, the Chairman of the Panel and Managing Director of Financial Derivatives Company, Bismarck Rewane, critically examined the state of

the Nigerian economy. The panel, cut across various stakeholders with the CBN governor represented by the Director Monetary Policy Department, Moses Tule; Shola Fashademi from Africa Exchange Holdings Ltd (AFEX), Dr. Eniola Ajayi, from Consumer Advocacy Foundation of Nigeria (CAFON), and Vincent Nwanyi a policy analyst from the Lagos Chambers of Commerce and Industry (LCCI). Dr. Ajayi during her discussion of the policy stated that Nigeria is in a crisis and requires urgent attention, adding that the policy cannot be a permanent approach to the problem, but stressed that the CBN needs to sit down with other ministries and determine what the economic policy for the country will be in the short, medium, and long term. The panelists and other stakeholders unanimously noted that the CBN did not communicate its objectives clearly when introducing the policy, a major reason for the backlash it is facing. The Director General of Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN), Mallam Bature Masari, said that the policy will directly impact on job creation, and hope resolution reached after the dialogue gets to the president. “For Nigeria to grow and survive, we as a nation need business in Nigeria to grow and survive as well,” he said. The CBN governor,Mr. Godwin Emefiele, while giving analysis of the state of the Nigerian economy, said the economy desperately needed to be re-

vamped, adding that though the policy had already been introduced by the CBN, the apex bank is still open to dialogue.

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Intel joins campaign for girls in technology IsaIah ErhIawarIEn

ilicone innovator and semiconductor manufacturer, Intel has joined the league of corporate bodies in Nigeria campaigning to bridge the gender gap in technology by promoting digital literacy and equipping girls for careers in Science, Technology and Mathematics.

In furtherance of taht Intel partnered with a local child rights advocacy group, Foundation for Corporate Social Responsibility and Children’s Rights (CSR Children) on a symposium tagged “Preparing Girls for a Scientific Future”, in celebration of this year’s International Day of the Girl Child. Chief Executive Officer, CSR Children, Toyin Olakanpo, who welcomed guests to the event, observed that the socio-cultural, economic and political factors impeding equal access to science and technology education in sub-Saharan Africa remained unaddressed despite increased awareness over the past decade. Olakanpo noted that, “At CSR Children, we have come to realise that the many obstacles to effective education of the girl child in Africa will not be surmounted by governments and their institutions. The challenge requires a firm commitment from socially responsible corporate citizens who understand the dangers of having a huge part of our population unable to function properly in a technology-

dependent world.” The Group Manager, Corporate Affairs at Intel, Babatunde Akinola, who sat on a panel discussing the importance of mentorship in breaking stereotypes about appropriate career paths for girls, highlighted Intel’s contributions to the quest for gender equality in the world of Science and Technology. Akinola stated that, “We started “She Will Connect” with a mission to empower 5 million girls in the next five years. “She Will Connect” Program aims to reduce the gender gap in technology all over the world through collaborations that would bring about an innovative combination of digital literacy training, an online peer network and gender relevant content.” He added that, “We will continue to lead the way in the drive for gender parity in the world of technology, equip young girls with and women with digital literacy skills and an improved understanding of technology.” Students from Aunty Ayo Secondary School commended the Intel ‘She Will Connect’ initiative, from which they had benefitted, while the Intel ‘She Will Connect’ Spokesperson for Nigeria, Titilope Sonuga noted that ‘She Will Connect’ will continue to empower young girls from their foundational stages, because exposure to

technology and sciences can unlock creativity and inquisitiveness in young women.

UBA profit up 44%, as earnings hit N247bn Johnson okanlawon

U FCMB, PAN launch auto finance scheme F Mr. Ola Olabinjo, Executive Director, Heritage Bank, (left) presenting the award to Miss Onwura Onyinye Chima, who won the Lagos State NYSC Director’s Award for outstanding performance during the service year in Lagos last Thursday.

irst City Monument Bank Limited (FCMB) Limited and Peugeot Automobile Nigeria (PAN) have launched an auto finance and acquisition scheme.

The initiative is part of efforts of the Bank to help individuals, (including the self-employed) and employees of organisations, corporate bodies and institutions within the public and private sectors, become car owners in convenient manner. Under the scheme, which was unveiled on in Abuja yesterday, qualified customers of FCMB would be able to own a

brand new Peugeot for a low as N80,367.68 under a monthly repayment plan up to five years. The new generation Peugeot brands on offer in the scheme, with varied monthly instalment payments, are the 301 ranges (Access, Active, Allure PRS, LXP); the 308 models (Allure Executive and Allure PRS); the 3008 (Active and Active LXP); 4008 and 508 (Active and Access). Speaking at the launch of the alliance, the Regional Director, Abuja and North of FCMB, Mr. Lukman Mustapha, said that the partnership was a value-added

consumer loan offering aimed at expanding the scope of vehicle ownership in the country. He said: “We have designed this scheme to enhance the lifestyle of our existing and potential customers through discounted pricing, flexible repayment and other benefits associated with it’’. Mustapha explained that as an inclusive lender with a strong

retail franchise, FCMB was committed to create opportunities for not just its customers, but all segments of the society.

nited Bank for Africa, UBA, has released its nine months unaudited financial results for 2015 showing a 44 per cent rise in profit after tax to N48.6 billion and a 17 per cent rise in gross earnings to N247.2 billion. The third quarter results also show net operating income rising by 21 per cent to N167.4 billion. The cost to income ratio remained within management’s guidance of 65 per cent, compared to 68.7 per cent in the corresponding period of 2014, as the bank continued to focus on improving operational efficiencies to deliver superior return to its shareholders. Analysis of the balance sheet showed a total assets of N2.87 tril-

lion, loan book of N1.01 trillion and a deposit base of N2.18 trillion. On the result, the Group Managing Director of the bank, Mr. Phillip Oduoza said that the management “continued to sustain our financial performance in 2015, leveraging our unique pan-African platform and the strength of our committed work force in gaining competitive edge in the market place.” He also attributed the impressive performance of the bank to enhanced balance sheet efficiency and improving extraction of value from the bank’s channels. “We have also maintained our discipline on how, where and

with whom we do business and I am happy with the results, as reflected in our earnings and asset quality” said Oduoza.

Tuesday, October 20, 2015

Jobs & Career

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Perm Sec to attend Aviation journalists’ seminar Olusegun KOiKi

he Permanent Secretary, Ministry of Aviation, Mrs. Binta Bello is expected to lead other stakeholders and professionals in the sector to this week 21st annual seminar of the League of Airport and Aviation Correspondents, LAAC.

A statement by the Chairman of the league, Mr. Chukwuemeke Iwelunmo, indicated that Bello would be the special guest of honour at the seminar with its theme; ‘Achieving A Win-Win Aviation Sector In Nigeria.’ Iwelunmo said that issues concerning navigational facilities, airport infrastructure, civil aviation regulations,

President Zuma urges construction firms on workers’ safety

resident Jacob Zuma urged construction companies to avoid tragic accidents. On Wednesday, the Great Walk bridge on the M1 freeway in Sandton collapsed killing two people and injuring over 20 people. The Presidency said Zuma urged construction companies to always take necessary precautions to protect workers and the public during the construction phases to avoid such tragic accidents. The Great Walk, a project of the city of Johannesburg constructed by Murray and Roberts, was expected to be completed in 2017. Zuma also extended his condolences to the families of those who lost their lives on the scene and wished those who were injured a speedy recovery. He has directed the authorities to swiftly investigate the cause of the accident. Murray and Roberts, the Department of Labour and the City of

Johannesburg have all launched investigations to determine the exact cause of the incident. (Source - salabournews.co.za)

South Africa President, Jacob Zuma

Ghana’s Gender Ministry concludes emergency leap cash transfer

he Ministry of Gender, Children and Social Protection has concluded the three months Emergency Livelihood Empowerment Against Poverty (LEAP) cash transfer payment to the flood and fire victims of the June 3rd disaster. At the final payment of the cash to the beneficiaries at Osu Alata and Osu Doku, the Acting Director of Social Protection, Mr. Richard Adjetey Joseph, announced the end of the emergency intervention. According to him, the team in charge of the Leap Programme would begin an evaluation of the Emergency LEAP to ascertain the flood victims who still fall within the vulnerability bracket in order to roll them unto the main LEAP pro-

gramme. The Minister for Gender, Children and Social Protection, Nana Oye Lithur, on June 15, 2015 announced a fourmillion –Ghana-Cedi emergency LEAP intervention programme for the families who were affected by the floods. An amount of GH¢100 were given to each beneficiary households every month for a period of cycles across five affected regions within the country. A total of 11,102 households benefitted in the emergency intervention programme with the breakdown as follows, Greater Accra, 6,996, Volta, 996, Ashanti, 842, Central, 1,307 and Western, 961. The Gender Ministry integrated the Emergen-

cy LEAP Cash transfer with a donation of relief items from DIRECT AID, a non-governmental organization from Kuwait to some affected communities across the country. In an interaction with beneficiaries of the three cycle payments, they recounted how they lost their properties and relatives through the disaster and how the timely intervention of the Gender Ministry has helped them to start up some business. They expressed appreciation to the government for the support but requested the government assisted them with other social protection programmes aside the cash grant. Source: ISD (Karimatu Anas)

challenges and prospects of the aviation industry in Nigeria would be discussed at the one day seminar, which would hold at the annex office of the Nigerian Civil Aviation Authority this Thursday. He noted that aviation in Nigeria had come of age and the panel of discussants would attempt to examine the benefit and otherwise of having a national carrier.

According to him, aviation all over the world remained the mover of the economy, adding that Nigeria could not operate in isolation of the rest. He explained: “We have come of age and the nation must feel the impact of the aviation sector in the contribution to the GDP as aviation is one of the key sectors that drive the economy.”

VW Chairman, Poetsch to take over from Winterkorn

W Chairman, Hans Dieter Poetsch, who already sits on the Porsche board, will take over for Winterkorn on Nov. 1, the Stuttgart-based company said in a statement on Saturday. The holding company, controlled by the Porsche and Piech families, owns more than half of VW’s voting shares. While the PorschePiech family was initially willing to stick it out with Winterkorn, who resigned as VW CEO in September, labor leaders and the German state of Lower Saxony were pushing for him to leave so that the German automaker could make a fresh start following the admission of cheating on U.S. emissions tests, people familiar with the matter said. The two groups have significant influence at the carmaker because Lower Saxony owns 20 percent

Labour House, Abuja

of the voting stock and labor officials hold half the seats on VW’s supervisory board. “It’s a good sign but it comes very late,” said Ferdinand Dudenhoeffer, director of the Center for Automotive Research at the University of Duisburg-Essen. “Anything else would have been unimaginable.” Talks are underway for Winterkorn to leave his remaining posts as chairman of VW’s publicly traded Audi brand and the group’s truck holding company, said the people, who asked not to be identified because the discussions are private. Fallout from the cheating disclosure has since spread to encompass as many as 11 million cars around the world. Cleaning up the mess will cost much more than the 6.5 billion euros ($7.4 billion) Volkswagen al-

ready set aside for the task, Winterkorn’s replacement as CEO, Matthias Mueller, has said. VW on Friday announced that Christine H o h m a n n - D e n n h a rd t , compliance chief at rival Daimler AG, will join the carmaker to take over a new VW management-board position focused on integrity and legal affairs. She’s the first outsider hired for a top post at the automaker since the beginning of the scandal. Winterkorn took the position of Porsche SE CEO in 2009, shortly after the company’s planned takeover of Volkswagen failed because of ballooning debt. Working with thenChairman Ferdinand Piech, he helped arrange a fix that gave Volkswagen the Porsche sportscar brand and solidified the families’ control over the carmaking group via the holding company.

Jobs & Career

Tuesday, October 20, 2015

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NLC decries $833bn loss by Cuba to US economic sanctions Olufemi AdeOsun

he Nigeria Labour Congress(NLC) has denounced the over five decades of economic blockage of Cuba by the United States, saying the sanctions have continued to bite had on the people in Cuba. The union estimated that the blockage had cost the country $833.7 billion foreign exchange earnings. Acting President of the NLC, Peters Adeyemi who made the appeal on behalf of the Cuban government in Abuja, recently queried the rationale for the US Senate to sustain the embargo, even though President Barack Obama had taken steps to announce normalisation of diplomatic relations between both countries. According to him, Cuba has been denied access to imported critical machinery for its industries, pharmaceutical products and food, technology for educational advancement, and financial facilities from international institutions, among others.

Commenting on the various prohibitive economic sanctions, Adeyemi said: “The United States does not only forbid meaningful tourism by its citizens to Cuba, it’s companies and financial institution within and outside the country are prohibited from doing business with Cuba. “Any third party country that does so is heavily penalised and blacklisted by the US government. The country cannot use US dollar in its international financial transactions nor can it hold accounts in banks of third countries. Invariably, the country is not permitted to have access to credit in US banks, their branches in third countries and international financial institutions such as the World Bank, the International Monetary Fund(IMF) or the Inter-American Development Bank(IDB). “Considering that international transactions are largely dominated by the dollar, and the weighty influence of the Breton Woods institutions particularly the World Bank and the IMF on credit and economic restructuring for sustain-

able development, Cuba’s normal development in all spheres of economic, social and cultural life has been seriously impeded for over 50years.” The umbrella labour union, further argued that Cubans had been subjected to untold sufferings by the American government and its allies whom the world ought to look up to as champion of democracy and defenders of the right to freedom. “The United States recently normalize relations with Cuba after over 50 years, but only to tighten the embargo further, making the regularization of relations rather a thing only on paper. “Addressing the Cuban question today is significant as the Draft Resolutions of the United Nations 70th General Assembly, has again, as in previous sessions, emphasized “the Necessity of ending the economic, commercial and financial embargo imposed by the United States on Cuba”. The vote is expected on 27th October, 2015. “The latest estimate in support of

this year’s UN resolution on lifting sanctions on Cuba, shows that the embargo has cost the Cuban people a whopping $833.7 billion,” Adeyemi stated. The Cuban Ambassador to Nigeria, Carlos Tejo Sosa, who corroborated the NLC’s position on the need to emancipate the country from the grip of the American government, said that since US had indicated interest to normalise relations, it was imperative to return to Cuba the territory illegally occupied by the Guantanamo Naval Base and cease the radio and television broadcasts which are perceived to violate international regulations. Sosa also said if America meant well, it should stop the implementation of programs aimed at promoting internal subversion and destabilisation as well as compensate the Cuban people for all the human and economic damages. He urged the world leaders to prevail on the American government to lift all the economic blockages in the interest of millions of Cuban people.

Energi launches workers’ compensation programme

nergi, a Peabody, Mass.-based industrial reinsurance company that specialize in providing risk management and insurance products to energy companies in the United States and Canada, has launched a new workers’ compensation triage programme called Company Nurse. The new injury-reporting program seeks to provide injured workers with immediate medical triage and medical advice over the phone with a registered nurse. Injured workers and employers have 24/7 access

to Company Nurse through Energi’s Claims Hotline The new triage program provides a proactive approach to workers’ compensation claims reporting. The Company Nurse program is presently being rolled out to all of Energi’s nationwide policyholders. Energi’s Company Nurse program features include: Reducing ER visits; Providing employees with first aid advice from a Registered Nurse, 24/7, through Energi’s Claims Hotline; Sending injured employees to an appropriate workers comp treatment site or urgent care

site if needed; and Managing and expediting the worker’s compensation claims intake and reporting process. Energi previously encouraged employers to send workers, even those with minor, non-serious injuries, to the ER. Company Nurse provides access for initial care for minor work injuries where an ER visit is not necessary. Robert Woods, senior vice president of Claims for Energi said the company believes Company Nurse will prevent unneeded and costly Emergency Room visits. (Source: Energi)

Candidates queuing for interview

Job vacancies Position: Asssitant Bussiness Development Officer Company: Arkventures limited Location: Lagos Deadline - 25th October 2015 To achieve revenue targets and build sustainable client relationships thereby ensuring customer satisfaction par excellence. Responsibilities: to assist in Locating, developing, defining business opportunities as well as negotiating, and closing business deals utilizing both traditional and online platforms. to assist in Generaing new business with assigned clients and targets in line with the sales plan.

To assist in Developing a list of prospects in both the public & private sector across target markets. Prepare proposals on company products/service offering. Market intelligence and research. Coordinating business development projects as and when applicable. Support the marketing unit by attending trade shows, conferences and other marketing events. Administering technical presentations and establishing how a product meets client needs. Carry out any other task that may be assigned to team by Management. Qualifications/Requirements:

Minimum of HND in any relevant field Minimum of 6months working experience Position: Administrative Officer Company: Zeockinvestments Group of Company Location: Lagos Full-Time 250 000 naira per month 6months - 2 years Deadline : 25th October 2015 z e o ck i nve s t m e n t s group of company is one of the indigenous, Energy and oil organization committed to rendering excellent oil and gas,shipping and marine services in a manner that is time and cost efficient to our Clientele through our keen management team, who

spread across Various International disciplines in oil and gas, human resource managements, maritime, financial and Administrative fields. Responsibilities: Coordinates office services, such as personnel, budget, and records management control. Performs office management duties; oversees the maintenance of personnel and fiscal records. Manages grant proposals and submissions. Prepares financial reports, reviews purchases, vouchers and other financial documents. Responsible for the procurement of supplies; maintenance of inventory records; including super-

vision of staff performing these functions. Advises other department heads and executes administrative policies at the direction of the executive in line with the organization objectives. Serves as a lead worker on special projects. Qualifications: A minimum of HND from an accredited institution. Preferred Field of Study: Social /Management Sciences. Position: Reconciliation Accountant Company: Hilltop services is an oil and gas servicing company with branches in some states in Nigeria. Location: Lagos Responsibilities The RA will be involved in the accuracy, correctness and integrity of the General ledgers

Reconcile Fixed Assets ledgers Reconcile Cash accounts Prepare Bank reconciliation statements Reconcile Inventory ledgers Reconcile Customer ledger accounts and receivables Reconcile Vendor ledger accounts and payablesReconcile Prepayments Reconcile entries on CRM Reconcile Revenue and Expenses ledgers Reconcile accounts relating to Equity Qualifications A good first degree in Accounting, Finance or other related fields with a minimum of second class honours degree (upper division), from a reputable University Must be a Chartered Accountant A minimum of 2 years in a reputable organisation

Tuesday, October 20, 2015

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Real Estate & Environment

Experts seek nationwide replication of BoI/ UNDP renewable energy initiative Recently, one of the nationâ&#x20AC;&#x2122;s leading development finance institution, Bank of Industry, commissioned a 48KW pilot model offgrid solar home systems in two rural communities in the North-East and South West zones of the country. Experts have said the initiative would not only help to cater for the energy need of the people and businesses, particularly micro, small and medium scale enterprises in the zones, but also help to preserve the environment for sustainable socio-economic development of the country. Olufemi Adeosun, writes.

hile inadequate supply of electricity has been identified as one of the factors responsible for under-performance or sometimes outright collapse of industries in the country, little has been said about its impact on the lives of thousands of rural dwellers who are not connected to the national grid and as such, denied access to basic amenities that make live worthwhile. In order to meet their energy needs, these neglected members of the society are consigned to hewing firewood for cooking, rely on kerosine lanterns, traditional oil lamps, and adopt other sources of power generation which are not only harmful to their health, but also damaging to the envi-

Gaining access to cheaper mortgage funds 27

ronment. It is these thousands of off-grid communities that the Bank of Industry is targeting through its Solar Energy Partnership with the United Nations Development Programme (UNDP). Under the programme, the development finance institution is providing a long-term financing for the installation of off-grid solar home systems in six communities in a pilot phase. The decision of BoI to fund renewable energy project, environment experts said, is in line with the policy direction of the present administration. According to them, apart from being the first President that openly made concerns for climate change

part of his campaign issues, Mohammadu Buhari, had during the just concluded Nigeria Alternative Power Expo(NAEE), called on investors in the power sector to shift emphasis towards environmentally friendly alternative sources of power generation in order to protect the ecosystem. Meanwhile, apart from the already commissioned 24KW micro-grid solar electrification each in Bisanti, a remote village in Katcha Local Government Area of Niger State, and in Ife-North LGA in Osun State, the project is to be replicated in four other communities, namely: Ogbekpen, Ikpoba in Okha LGA, Edo State, Kolwa Kaltunga LGA, in Gombe State, Onono, Anambra West LGA, in Anambra

Pensioners should invest in property, says expert

State and Carwa/Cakum, Markarfi LGA, in Kano State. The over 200 rural dwellers in each of the community that are captured in the project, are expected to have sufficient solar electricity to power three LED light bulbs, one electric fan, one radio/TV set and Mobil phone charging. Unlike in the grid system in which electricity bill is by fiat, the solar power system will be anchored on â&#x20AC;&#x2DC;Pay-as-You-Go prepaid technology. BoI Managing Director, Mr. Rasheed Olaoluwa, noted that the need to impact on the lives of thousands of people that are not connected to the national grid in remote villages in the country, was the driven force behind CONTINUED ON PAGE 26

Expert says regulation tax impacts on property business 30

Real Estate & Environment

Tuesday, October 20, 2015

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Experts seek nationwide replication of BoI/UNDP renewable energy initiative

CONTINUED FROM 25

the project. According to him, the rural electrification solution would not only help in reducing the rural-urban migration, it would help to preserve the lives of the people as well as the ecosystem. He said, “Those that are worse hit by the current electricity situation in the country are the rural communities, especially the off-grid areas which have always been without electricity and have resigned their fate to the use of kerosine lanterns, oil lamps and other types of dangerous and unhealthy sources of light to be able to live their daily lives. “Firstly the installation of off-grid solar home systems in the two communities will help developing the communities. Secondly, we can begin to see a slow down in rural urban migration, and possibly a reversal. It is a model we are deploying in six communities across the six geopolitical zones. “Solar is a green energy that relies on energy from the sun. The solar panel stores energy and the one that is not used during the day is stored in a battery. It is a self-sustaining model, environmentally friendly and we are proud to be supportive of the process.” Olaoluwa, who said the bank’s medium term vision was to install solar systems, through the combination of micro-grid and stand-alone solar systems in 100,000 homes in the next fives, also expressed his readiness to partner with states government and private investors with a view to replicating the project in other communities across the country. While urging the nation to tap into the abundance renewable energy sources in the country he, emphasized that”Renewable energy such as hydro, wind and solar are growing in relevance and commercial adoption on a global scale. The critical role of renewable energy was reemphasized at the G7 summit which held in June,2015, where the leading industrial nations agreed to decarbonise the global economy by phasing out the use of fossil fuels by the end of this century.” An environmentalist, Dr. Patric To-

Housing estate

lani noted that the project would help to stem the tide of deforestation occasioned by felling of trees to generate energy. He said that preliminary studies carried out by Community Energy Africa had revealed that the project was also capable of offsetting thousands of carbons per year. He added,”A cursory look at this community will no doubt reveal that the people depend wholly on woods and kerosine for their energy needs. In this case, they rely on trees, which they constantly cut down for domestic use, causing deforestation with its attendant consequences on the lives of the people and the environment. Having a project like this will offset carbon that goes to the environment. “Also, against the backdrop of the community reliance on lanterns, people inhale a lot of smokes in the process and that definitely affects

their health. We have calculated that through this project, we are going to offset several thousands of carbons a year. And I can assure that the offset, in the near future, can translate into carbon credit which I can categorically say, can be fed back into the community for development. On ways of ensuring the sustainability of the project, Tolani who is also the Chief Executive Officer, Charity Aid and Development Foundation for Africa, explained that apart from the fact that GVE, the project contractor would be available to provide a stand-on assistance in the engineering aspect, the most viable way to make it enduring was through community ownership. “This commissioning of the project will not end the relationship, GVE would have their engineers here, like the one in Igbeke. The one in Igbeke

This projecT will be run by GVe projecT limiTed To manaGe The enGineerinG aspecTs

The Good ThinG abouT solar is ThaT you don’T need To buy diesel, you don’T need To buy any fossil fuel. iT is from The sun

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

has been running now for three without one day downturn. This project will be run by GVE Project Limited to manage the engineering aspects.The good thing about solar is that you don’t need to buy diesel, you don’t need to buy any fossil fuel. It is from the sun. “However, it is also important we make the community part of the project so that they see it as their own. We are looking at the opportunity of issuing shares to members of the community so that they can’t read the asset as their own. They can have share ownership, and not just that, shared posterity. I can say to you that if we are able to work that out, when their is profit, they will get dividend,” he added. Also speaking, the Managing Director, GVE Project Limited, Ifeanyi Orajaka, stated that that the project would help the beneficiaries to conserve money, adding that the cost of purchasing kerosine lamp, candles and generators was capable of constituting a strain on the pocket of ordinary people. He noted,”Before now, this community used to rely on kerosine lamps, candles and generators. You and I know that apart from being unclean, unhealthy to both human and environment, they are generally expensive to operate. But with this solar energy system, they are now introduced to clean, reliable and affordable power solution.”

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Real Estate & Environment

Tuesday, October 20, 2015

Expert lists potential of construction sector

MORTGAGE NOTES with Adenike Fasanya-Osilaja

BY SYLVA EMEKA-OKEREKE

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

Gaining access to cheaper mortgage funds

s is usually the case, I was involved in a conversation with a very good friend in the Nigerian Legal sector, who specializes in mortgage and real estate transactions. As is also usually the case, she was not too positive about the possibility of Nigeria making a full transition to a mortgage based real estate sector. She was quite certain that the typical Nigerian homebuyer is still too spooked regarding the idea of owing money on the house they live in, and therefore the number of mortgages funded would probably not support the sector for a long term projection. I responded with the same question I ask anyone with a negative viewpoint of the industry – “Is it enough of a reason for us to then stop trying?” This has become my battle cry for so long, that it is my go to question. Should we be so focused on the possibility of failure that we stop trying to build a sustainable mortgage industry in Nigeria? If we do so, have we not failed simply by our inaction? With the NMRC gaining approval to issue bonds on the Nigerian Stock Exchange, every company should be training hard to ensure access to these low interest funds they will be raising. As of May 72015, I remember being in a workshop and learning that only one company had so far submitted a request to sell some of their MBS files to the NMRC. If approved, the loan file would be sold at a discount to NMRC, and the bank would then receive funds that they reinjection into their mortgage pool of funds. This is what keeps the market vibrant in most of the developed mortgage markets, and the Nigerian industry should definitely strive to achieve this. Once a mortgage company has raised an initial fund base for mortgage loans, all that would be needed would be for the company to learn to originate NMRC compliant loans. The company would then simply sell the loans to the NMRC and recapitalize, in order to give out more mortgages. This would ensure that the company stays liquid, remove the burden of the long term loan portfolio, and generate much faster and easier profits. The only caveat is that the companies would need to be very conversant with the said rules, and with how to package a loan in compliance with NMRC

guidelines, and this involves a pretty intensive training process. Our company, MV Professional Solutions, Inc. is involved in the training of mortgage company staff in Nigeria, and I have found a very disturbing common thread. There is a huge void in the area of mortgage training that actually meets Fannie Mae as required by the IFC/NMRC, Freddie Mac or any other international guidelines. The problem is compounded by the additional burden of having to meet Central Bank of Nigeria (CBN) as well as the National Mortgage Refinance Corporation (NMRC) guidelines. The good news is that all of these bodies have several overlapping guidelines. The bad news is that pretty much every mortgage company in Nigeria has its own independent proprietary mortgage system for everything from software to loan underwriting processes, and this is a huge hindrance to the standardization of the industry. In our opinion, this is definitely an issue that CBN / NMRC have to address and as soon as possible, to enable document and process compliance. One of the most unusual practices of the industry is the diversification/progression from giving consumers the mortgage loans directly, to the building and development of estates for sale to their clients. This practice actually seems to move mortgage companies closer to becoming building societies. I have been reliably informed by a top CBN officer however, that CBN will not allow this practice to continue, and that there will soon be a directive barring mortgage companies from building such estates, and limiting them to the provision of finance for mortgages. Training the mortgage officers to effect this change should be a priority, and should be happening right now, because there will need to be a total shift in their mindsets to embrace the new directive. So, as our MVPS team heads from Chicago, Illinois to Port Harcourt, Nigeria in the very near future to train a 250+ employee mortgage company, we are determined

that at the end of the one week training period, the company must be able to immediately start generating NMRC compliant loans, as well as drastically improving the quality of their loan packages. I look forward to the challenge, and will be back with you upon my return. As always, make it an awesome day. Please post any comments and/or questions, and I look forward to hearing from you. The authorities of Lead City University, Ibadan, have once again displayed its resolve to promote staff’s welfare with the unveiling of an ‘Owner Occupying Housing Scheme’ for members of its workforce. The university last Wednesday commissioned 72 flats housing estate located about 200 meters to the main campus of the institution at a ceremony coordinated by the Chancellor of the university, Prof. Gabriel Ogunmola and the Chairman, Governing Council, Prof. Jide Owoeye. Ogunmola, who in his address congratulated the first batch of beneficiaries among the members of staff and also presented them with keys to the flats, describing the scheme as a good development meant to xxxxx their settling down for facilitate better service delivery,. He said, “This has shown the genuine concern of the management for your welfare and that is why the payment for the flats is structured in a manner that would be convenient for you”. The Vice Chancellor of the university, Prof. Olufemi Onabajo, said the scheme which is in tandem with the institution’s policies of ensuring good welfare package for its staff, is in its first phase, assuring that more people would benefit when the project reached its final stage. “The idea behind the scheme is to meet the needed comfort of our staff, just like the Federal Government’s housing scheme for middle income earners”, he

stated.

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.

construction expert, Engr Matherw Adodo has noted with optimism, that construction sector has great potential to grow the nation’s economy, urging the Federal Government to look into the sector with the aim of improving its revenue base. Adodo to National Mirror that other sectors of the nation’s economy depend directly or indirectly on construction sector to carry out their operations He said construction services played major roles in the declaration of Nigeria’s economy as the largest African economy, after re-basing its Gross Development Product, surpassing South Africa. According to him, there are more prospects for sustained growths, driven by improved performance of non-oil sectors. ‘’A major industry that will benefit from the performance of these non-oil sectors is the construction industry’’, he noted. Experts say, though, contributions of construction industry to the nation’s GDP can never be overemphasised; however, its contribution to employment generation is still low, compared to what is obtainable from other developed nations. Adodo said it would rise due to

recent focus on infrastructural developments, which are presently attracting foreign investors with attendant benefits of increased construction activities. Already, there are massive demands for buildings across all sectors of the nation’s economy. Some of the factors bedevilling the construction industries, he listed include shortage of skilled manpower, difficulties in procurement of plants and equipment, inadequate capital for execution of projects, lack of training and development institutes that could sharpen the skills of construction workers. Even, with all the constraints, experts say the nation’s construction industry still has the capacity of becoming the largest construction markets in the world. For instance, recent forecast by Global Construction Perspective and Oxford Economics “from 2009 to 2020, shows that Nigeria and India will enjoy higher growth rates than China, which is regarded as World’s foremost in construction outputs. It is noted that Foreign Direct Investment policy would spur foreign investors to demand for increase in construction activities,

especially on infrastructure provisions, residential apartments, company/office spaces and industries.

Dealers raise alarm over influx of substandard cables BY SYLVA EMEKA-OKEREKE

mporters of genuine electrical and households appliances have raised alarm over fake and adulterated cable products in the nation’s market. This is coming on the heels of the Standards Organisation of Nigeria, SON, warning Nigerian importers to shun importation of substandard cables into the country, reminding them of zerotolerance to fake products. A dealer, Chuks Obiora said despite the warnings by SON, some importers are still importing fake cables and electrical parts into the country, warning his fellow dealers to be wary of substandard products in the market. He however warned such unscrupulous importers to desist from such importations or face the wrath of the law. Not quite long ago, the SON impounded and destroyed some substandard products like stabilizers, armoured cables, extension sockets, mini led flashlights, rechargeable lamps among others. Head of Inspectorate and Compliance of the SON, Engr

Bede Obayi during one of those destructions said, “We are not happy destroying those products, but if we can save the life of one Nigerian by burning these products, we have done something for this country and this is exactly the core mandate of our agency by showing zero-tolerance for substandard products in this country”. According to him, the current administration under the Director General, SON, Dr Joseph Odumodu will continue to show commitments to its zero-tolerance policy, saying the Agency has given a lot of enlightenment campaigns about the negative effects of these products in the country. ‘’We have used many fora to educate importers and other stakeholders on the right way to import products into the country. We have even published in newspapers, the steps to import products into this country. SON’s Conformity Assessment Programme, SONCAP, is in place and it is still running. Our e-registration programme is also active to help us trace each product to the importer and effectively monitor the imports. “

Real Estate & Environment

Tuesday, October 20, 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

Pensioners should invest in property,

finance expert, Gareth Bertram of John Charles Personal Finance said the alternative to traditional stock market is investing a self-invested personal pension (SIPP) in variety of assets. He noted that because many investors are already familiar and comfortable with the stock, the alternative option is property. Of course, this will not be right for everyone as there are risks attached, just as there are also a number of potential advantages to invest in property through SIPP as opposed to using traditional pension fund. Some reasons to invest in property include alternative to volatile and underperforming stock markets. The performance of traditional pension funds is often strongly linked to that of stock markets. Unfortunately, in recent years, stock markets have performed poorly and annuity rates are at historic lows. By investing your pension in property, you can avoid volatile equity markets and find an alternative source of growth and income. Again, in investing in property, the traditional investors in stock will avoid hefty pension fund fees. Many pension funds charge significant fees for managing your investments, even when they perform poorly, thereby reducing the value of your pension. And if you invested via an independent financial advisor (IFA), you may also be paying commission to them. By taking control of your pension yourself through SIPP and investing in property, you can avoid these fees and make more of your pension pot. Also by investing your pension in property, not only could you achieve capital growth on your investments,

but could also collect a regular income from a tenant. What’s more, if this rental income is enough for you to live off in retirement, you could potentially enjoy further capital growth from your investments, even after retirement. With annuity rates at historic lows of around

4 percent, the traditional option for retirees is looking increasingly unattractive. What’s more, when you buy an annuity, you give up any further growth from your pension. By investing in property with a rental income on the other hand, you have the opportunity to enjoy a regu-

lar income and It will also b pension by 50 pe pension in prop out a mortgage o by boosting the your pension po

Access to mortgage, major barrier to home

ust 12 percent of UK adults believe access to mortgages has improved in the past five years, but not enough, despite recent moves to open up the mortgage market, new research has found. This is a substantial drop from 29% recorded in similar research commissioned by Precise Mortgages last year. Despite this negative sentiment, the report witnessed improvement in some of the wider issues facing home owners. Over the last year UK renters, in general, see saving for a deposit, finding an affordable property and getting a mortgage approved

less of a barrier to owning their own home than in 2014. However, some 49% of UK adults believe that mortgage rates only favour those with large deposits and 36% feel that mortgages are too difficult to obtain for first time buyers. But 76% of renters aged between 18 and 24 regard saving enough for a deposit as a barrier to owning their own home, and 67% say finding an affordable property is a barrier. With the average cost of a property now upward of £200,000and house price inflation set to hit 6% this year, affordability is likely to remain a challenge for first time buyers, the research suggests. Despite an uphill battle some 41% of those renting aged 18 to 24 still

hope to own their own home in the next five years. However, amongst the older demographic the situation differs, with only 14% of renters aged 45 to 54 planning to own a property in the next five years, with the majority at 67% having no aspirations to be a home owner. ‘Prospective home buyers are feeling more positive about their ability to save and find an affordable property, but with consumer sentiment towards mortgage accessibility falling in the last year, the industry has a vital job to do in reassuring prospective home owners,’ said Alan Cleary, managing director of Precise Mortgages.

‘The m should serv buyers, and belief that favour larg unforgiving ishes on th explained. ‘There a in the mar help naviga tential hom there is st across the suring tha owners hav products sh the indust added.

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, October 20, 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.

says expert

still grow your capital. boost the power of your ercent. If you invest your perty, you could also take of up to 50 percent, theree investment potential of ot. And by renting out the

owners

mortgage industry ve prospective homed we must dispel the lenders continue to ge deposits and are g of those with blemheir credit record,’ he

are specialist lenders rket ideally placed to ate the obstacles pome buyers face, but till more to be done wider industry. Enat all viable home ve access to mortgage hould be the aim of try as a whole,’ he

property, you could effectively get someone else to pay off the mortgage while you enjoy the potential capital growth. The value of your property investments may fall or rise depending on market conditions and any other factors

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.

Drop in property prices spurs market F

alling property prices in Dubai are not totally stream property prices over the 12 months to June bad news as it will make the emirate’s real es- 2015. tate market more mature, a new analysis report ‘Nevertheless, falling prices are not totally bad says. news. With the government stepping in to curb The report from international real estate firm speculative activity through tightening mortgage Knight Frank explains how over the past decade, regulations and capping price increments, it is Dubai has been on a real estate rollercoaster ride of evident that lessons has been learnt from the 2008 boom, crash and recovery. downturn and the market is heading steadily to be Indeed, property values halved between 2008 and more mature and better controlled,’ says the report. 2010, but then raised phoenix like from the desert to re‘More interestingly, with price falls continuing gain most of their losses by 2014. However, the rallying to outpace rental value declines, initial yields are prices of 2013 and 2014 set off the alarm so authorities increasing. Reaching more than 7% in rental yields had to react to prevent a market boom and crash cycle. in the mainstream property segment, Dubai still At this point Dubai’s market regulators, wielding stands tall among real estate capitals in the world mortgage caps and a doubling of transaction fees, for investor seeking income generating properties,’ stepped in to reduce speculation and the report points it adds. out that this combined with other factors such as deteIt also points out that the rate of decline in prime riorating oil prices, currency fluctuations and a series residential prices of 4.5% in the year to June 2015 of economic and political failures in different parts was smaller compared to the mainstream segment of world, means lower levels of demand from most while in sub-markets, the picture is a bit more regional and international group of buyers looking to positive as well. In demand areas are mostly in the purchase properties in Dubai. prime segment including villas, townhouses and On top of this there has been an excess of new build apartments in the Palm, Emirates Hills, Dubai Masupply and the net impact has been a 12% fall in main- rina and Downtown for example.

Real Estate & Environment

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

Regulation tax impacts on property business –Expert M onetary policy, tax, regulations and underlying fundamental drivers such as demographics and urbanisation will have a significant impact on property markets in the Asia Pacific region, according to the latest real estate analysis.

The region’s economies are moving at multiple speeds with differing drivers and local dynamics, producing quite a wide range of housing market performance indica-

tor, says the Asia Pacific residential review from international real estate firm Knight Frank. ‘Economic growth can certainly be a reasonable lead indicator as to which way housing markets will go,’ said Nicholas Holt, head of research for the Asia Pacific region. He also pointed out that despite facing many headwinds; the International Monetary Fund is forecasting stronger growth in 2015 for

six out of the 11 major countries in the region. ‘While this should be a positive sign for home owners or investors, the reality is that in many cases there has been a divergence between short term economic growth and market performance,’ he added. The report reveals that since last November, the People’s Bank of China has cut interest rates three times, contributing to the first

month on month increase in house prices in May this year, after falling for 12 consecutive months. Other countries such Australia, India and South Korea are also pursuing expansionary monetary policy. It points out that with further interest rate rises inevitable in the slow moving market of Singapore; cooling measures introduced previously could start to be reviewed by the government. China and New Zealand have regulatory. In New Zealand, for example, authorities have stepped in over recent years. ‘Perhaps now more than ever, property market observers are looking to policy makers, whether Janet Yellen at the Federal Reserve, the

already seen similar moves. And the likely extension of luxury tax and introduction of a super luxury tax have already started to impact market behaviours in Indonesia, as has the announcement of a new capital gains tax scheme in Taiwan. The report also points out that it is not just China that has seen the increasing influence of policy interventions in residential markets, whether fiscal, monetary or Singapore government, the Reserve Bank of Australia, the People’s Bank of China or the Japanese government for clues about how markets will perform. We can expect more of this going forward,’ explained Holt.

Property buyers eye real estate in emerging economies –Research

G L-R: Director, ARM Pension Managers Limited, Daniel Akujobi; Country Manager, Chartered Institute of Management Accountants (CIMA), Ijeoma Anadozie; Managing Director, Chartered Institute of Management Accountants (CIMA), Andrew Harding and Chief Operating Officer and Partner, KPMG Nigeria, Yomi Sanni, at the institute’s 2015 members’ dinner in Lagos at the weekend.

Local flora to draw birds to parks

orporatize power dept: Civil society Green campaigners bat for nurseries in parks ‘Irrational’ decision draws flak from civil society Civil society members evicted from MMC hall for ‘displaying placards ‘Green lungs at crematorium new abode for dislocated birds While Chennai Corporation goes all out to green the city by setting up parks, the silence of birds and absence of flowers that bring public spaces to life is conspicuous. In an effort to bring butterflies and birds back to the city’s green spaces, Chennai Corporation along with civil society is initiating a project to plant indigenous trees in parks and streets in five neighbourhoods. A Chennai Corporation official said the civic body, with the help of Nizhal, a trust that promotes concern for trees, has compiled a list of saplings that will be planted. This will include trees with medicinal and ornamental value and those known to attract birds and butterflies like Ehretia pubescens or kalvirasu. “Ask someone who grew up in a village what they miss most in the city. They are bound to mention birds and butterflies. We have a lot

of green spaces in Chennai, but few that are colourful,” he said. Around 60 saplings will be planted along a street and in a park in Thiru-Vi-Ka Nagar, Anna Nagar, Ambattur, Teynampet and Kodambakkam. Taking into account Chennai’s varying soil conditions and space constraints, Nizhal has come up with a list of trees that are rare or have disappeared. This includes marutham tree (Terminalia arjuna), thandri (Terminalia bellerica), a medicinal herb used to treat bronchitis and sore throat, and Divi divi used to treat freckles. While environmentalists say the parks are managed well, most of them lack life as they have little or no fauna, and they mostly comprise exotic trees, which are easy to grow and considered more pleasing to the eye. “We are not only losing our traditional trees, but also our cultural roots that are connected to these plants,” said Shobha Menon of Nizhal. She said nurseries aren’t stocking these saplings any more as

there are few takers. For the corporation project, the saplings will be sourced from Auroville. Indigenous trees like kalvirasu attract birds and butterflies with their fruits and nectar. “These are naturalized trees and the local fauna have an affinity for them,” said Pauline Deborah, department of plant biology, Women’s Christian College. Botanists have commended the corporation’s move, saying there’s a stark change in attitude from the 1970s and 80s, when the number of trees planted was given importance. Deborah said many of the species were from South America and Africa. “It was a blind drive to show numbers. In the process, many of the native species were lost,” she said, citing flowering tree prosopis,

planted in the 60s for fuel and fodder, as an example of an exotic species that choked traditional plants.

lobal billionaire activity in world real estate markets has been so intense over the past seven years that it has led to a doubling of residential property values in this sector, a new report reveals. Although overall, according to Property Wire, aggregated world values fell after 2007 and price movements seem volatile, recovery has been significant since 2009. As a result, billionaire markets have exceeded the growth seen in the mainstream markets of the same cities, according the latest Savills World Cities Review. According to Yolande Barnes, director of residential research at Savills, the activity of billionaires in international real estate markets reflects the creation of global wealth and the economic success of particular regions and cities. This means that the cities in newly emerged economies have significantly outperformed those in the old world economies of the US, Japan, Australia and Europe. Only London’s ultra prime market stands out among the old world cities as having shown significant growth since 2005, totalling 107 per cent . New York’s billionaire real estate stands only 47% higher and Tokyo ultra prime residential is only 8 per cent more expensive in local currency than it was in 2005. The report shows that rising commodity prices and the creation of new, ultra rich classes in China and Asia have precipitated the highest growth in ultra prime real estate values. Singapore and Mumbai stand out as having seen the highest growth in ultra prime values since 2005 at 232% and 176% respectively. Both grew from relatively low base values.The

highest overall values are seen in Hong Kong. The record deal there was £8,200 (US$13,100) per square foot for a house in Deep Water Bay Road in 2011. The report also shows that billionaire activity has been concentrated on high end urban centres rather than leisure properties in the surrounding countryside or regional sunbelts. Consequently, the index for billionaire leisure homes has not yet quite recovered to its former 2007 peak and only stands 34% higher than it did in June 2005. ‘Last year saw significant curbs imposed on billionaire buyers in some cities. This has resulted in slowdowns rather than falls in most of them. Singapore’s ultra prime growth slowed to about 5% in the year, while Hong Kong’s stalled and London’s also slowed significantly, both in the second half of 2012,’ said Barnes. ‘Moscow prices slowed alongside commodity prices, which are closely linked to the value of Russian ultra wealthy individuals. In France, threatened tax measures seemed directly to have curbed activity. Our ultra prime index in Paris is down, nearly 8% on the year, while billionaire Riviera properties ended down 10%,’ she explained. ‘This means that overall, the ultra prime billionaire markets are stable. Real estate, especially in old world countries, is seen as a

safe store of wealth. The US, in particular, looks ripe for growth,’ added Barnes.

Tuesday, October 20, 2015

Aviation

National Mirror www.nationalmirroronline.net

Experts disagree over incentives to airlines on ‘unviable’ routes Most Nigerian airline operators compete for passengers on Lagos, Abuja and Port Harcourt routes, which are the most viable airports in the country while other airports are neglected. Debates to make airlines ply the ‘unviable’ routes active by the introduction of incentives have polarized stakeholders over the desirability or otherwise of such initiative. OLUSEGUN KOIKI writes.

eports say there are over 40,000 airports around the world featuring a variety of paved, grass, dirt and sand runways of differing lengths, with different passenger facilities or none at all, and unique destination lists. Of these numbers, the Federal Airports Authority of Nigeria, FAAN, directly controls 22, apart from those owned by various State Governments. Globally, no two airports are the same. While some remain popular among air travellers and airlines, others are designated as ‘unpopular airports’ and airline operators seldom operate to such routes. Just like large supermarkets, hub airports work to create economies of scale by pooling demand except instead of groceries, they combine demand for destinations and regular flights. Statistics released recently by the managers of Heathrow International Airport, London, United Kingdom revealed that at the airport alone, passengers can access 80 different airlines to 180 destinations in 85 countries – with transfer passengers being the key to making these flights viable. Airlines are able to maximise passenger numbers by filling flights with those using Heathrow merely as a stepping stone to somewhere further, which makes the route more viable. But in order to make the unviable airports popular and more attractive, governments all over the world give out incentives to airlines and passengers flying such routes while others give out the aerodromes to private hands to run for better performance. For instance the Greek Government recently contemplated conceding its regional airports to the private sector, even of floating its share of Athens Airport via an Initial Public Offering, IPO, but was restrained by its indebtedness. Nevertheless, it appears the government is finally ready to make an attempt at privatisation, by leasing 21 of the unviable regional airports and with the tendering process starting immediately. The reverse is the case in Nigeria with all the airports either viable or not being controlled by the Federal Government. Commercial air travel is a very important sector of any economy, especially a country like Nigeria with an estimated population of 170 million. This also becomes imperative because some domestic travel can only practically be done through the air. In this type of economy, air travel has a large role as a business input and as a consumer good. Nigeria’s aviation industry is growing, but not without its challenges. Passenger traffic is rising once again at both the domestic and international levels. FAAN in its recent statistics projected that the number of passengers carried annually would reach over 20 million by 2018 and con-

Dutse International Airport, Jigawa, one of the unpopular airports owned by the state government

IncentIves to who? everythIng they want government to subsIdIse? that Is not what prIvatIsatIon and development of the economy Is all about.

we have

depended too much on government for everythIng tinue growing from its present 14 million figure, but most of the passengers are going to the traditional hub airports like the Murtala Muhammed Airport, MMA, Lagos, Nnamdi Azikiwe Airport, NAA, Abuja; Port Harcourt Airport and Aminu Kano Airport, AKA, Kano. Airports like Yola, Ibadan, Minna, Akure, Katsina, Sokoto, Maiduguri, Ilorin, and Makurdi hardly record 150,000 through the year. Some observers noted that passengers are willing to throng these airports, but commercial airline operators are reluctant to fly into several of them because of perceived low passenger and cargo traffics. Before now, the defunct EAS Airlines singlehandedly developed the Jos route. The airline was operating Lagos-Jos-Kano and vice-versa on a daily basis while the equally rested Chanchangi Airlines ensured its consistency on the Lagos-Kaduna route, although with some teething challenges. At the moment, apart from Overland Airways, which currently has the tradition of opening up new routes like the Asaba International Airport, Dutse International Airport, reconstructed Sir Abubakar Tafawa Balewa International Airport, Bauchi, Ibadan and Akure Airports, many other airlines in the country all rush to Abuja, Port Harcourt, Owerri and Kano airports early in the morning, but return to their base; Lagos with almost empty and irretrievable seats. Some aviation analysts believe that for the unpopular routes to be opened, the government should give out incentives to airlines flying into

such airports and equally want the government to look into the overdependence of airline operators on Abuja, Lagos and Port Harcourt airports. The immediate past President, Aviation Round Table, Capt. Dele Ore suggested that efforts should be made to support and encourage local carriers to fly domestic routes currently abandoned for reasons of low passenger traffic. ART argued that in order to encourage movements to the less busy airports, the government should map out a deliberate plan to develop new routes in the system, adding that airlines flying into those routes could be given incentives like free tax regime and non-payment of landing and parking charges among others to further embolden them. However, a pilot with the former national carrier, Capt. Adewale Okusaga, emphasised that new routes could only be popular if the State Governments on their own develop their states with several amenities that would attract investors and tourists to them. Okusaga, stated that airports are not built just for the sake of it, but must be tied to an economic activity, adding that some activities are making people move to Abuja and some other major airports in the country. He said, “When Nigeria capital was based in Lagos, did anyone go to Abuja? No. Then, how do you now want the government to give incentives to airlines going into not so much popular routes? Incentives to who? Everything they want government to subsidise? That is not what privatisation and development of the economy is all about. We have depended too much on govern-

ment for everything. “If you want your route to be popular then you need to develop your state. For instance, if you want people to come to Akure, then, you need to go and develop Ondo State. You will build something there that will make people come. That is the only way to develop a route.” Also, the immediate past Chairman, Airline Operators of Nigeria, AON, Dr. Steve Mahonwu negated the call for incentives to airlines on less viable routes. He told our correspondent that for an investor to come into the sector, such was expected to carry out the feasibility study of the industry and draw up a master plan on routes it wants to operate into. Mahonwu declared the problem of triangle routes; Abuja, Port Harcourt and Kano had been on for several years, which the government and operators themselves had not been able to solve over the years. He described route development as a very big phenomenon in the global aviation industry, which in most he argued was done through trial and error basis, adding that creation of awareness by such airline would also go a long way in aiding quick route development. “Most stakeholders talking about this issue don’t even know much about it and they don’t even know the mission of the airline operators in the air. For the fact that you have money to establish an airline doesn’t mean you know it all in the sector. “It is not a government thing to support the airlines. They should have money to run the business and have lots of revenues to continue with the business. For you to say the government should give them incentives, government should equally run your airline for you. Route development is a trial by error mechanism. “People should run their airlines themselves. Government cannot help you; it is not a government business. If you want to run an airline, you put money down and get people to run it for you and not you that put down the money,” he said.

Mahonwu

Aviation

Tuesday, October 20, 2015

NAHCO, Shoreline Group sign MoU on Osubi Airport StorieS: oluSegun KoiKi

ne of the ground handling companies in the country’s aviation industry, Nigerian Aviation Handling Company, NAHCo, said that it had signed a Memorandum of Understanding, MoU, with Shoreline Group, the operator of Osubi Airport, Warri, Delta State on ground handling operations at the airport. With the agreement, NAHCo Aviance as the company is popularly known would henceforth provide exclusive handling, passenger, ramp, and carry out cargo operations for all aircraft and airlines that fly into the airport. A statement by the company’s spokesman, Mr. Tayo Ajakaye, listed some of the names of airlines that ply the airport to include Arik Air, Aero Contractor and Escravos, which is also operated by Aero. He hinted that the MoU provided for nahco aviance to negotiate separate agreements with the other operators using the Airport. The statement quoted the Chief Commercial Officer

L-R: The Assistant Comptroller General, Nigeria Immigration Service, NIS, Zone ‘A’, Lagos, Mr. Musa Maza and the Public Relations Officer, PRO, NIS, Murtala Muhammed International Airport, MMIA, Mr. Adebola Adetula during the maiden visit of the former to the command recently.

of the company, Mr. Seyi Adewale as saying that there had been relatively good successes through Public-Private Partnership, PPP, adding that the Federal Government’s concessionaire initiatives in the sector was a good example. With PPP, he hinted that airports within the country now have improved opportunities for new capital and investments to improve their infrastructure and overall airport architecture that help to facilitate excellent passenger experience within the country. He said, “Using this partner-

he Managing Director, Financial Derivatives Company Limited, Mr. Bismarck Rewane has said that the proposed national carrier by the Federal Government would be a “dead on arrival project,” unless some certain things are put in place by the government to prevent its failure. Rewane in his monthly Economic News and Views identified poor airport infrastructure, cost of operation and fuel and high interest rate on credit facility from financial institutions as some of those factors that would make the project fail. He however noted that if the government could address the challeng-

Kola Olayinka

Airside shegzzy4live2000@yahoo.co.uk 08186007273

MH 17 crash and lessons for Nigerian authorities

ship model, we are currently witnessing concessioned airport terminals outperforming the publicly managed airport terminals and many of these concessioned airports rely on NAHCO in-part to achieve this feat. “Specific to Osubi Airport, we would be bringing over 35years aviation ground handling capabilities to further accentuate the excellent passenger experience through passenger handling competences, skilled manpower, up-to-date (airport) technology, tools and equipment, world class management structure and its competence to make Osubi Airport a reference point for efficient and effective aviation ground handling services.”

National carrier not feasible now – Rewane

National Mirror www.nationalmirroronline.net

es, the sector would be more profitable for flight operators. In his further review of the sector, Rewane noted that the Murtala Muhammed Airport, MMA, Lagos remained the busiest in the country in terms of passengers patronage. The report revealed that in the last quarter, the airport recorded 39.4 per cent of domestic travel in the country while another 69.43 per cent international passengers used its facilities in the period under review. Worldwide, the report said that airline shares fell by 5 per cent in August when compared to the 4 per cent boost in July, stressing that markets were impacted by developments in the Chinese economy. He observed further that airlines in Asia Pacific were most impacted with a loss of 15 per cent within the period, declaring that passenger yields remained weak globally. In the United States of America, USA, Rewane said average fares were down 13 per cent in the United States of America, USA in January – July, 2015 relative to corresponding period in 2014. Globally, he said load factors reached record level of 84.7 per cent in the period under review, stressing that passenger load factor in

July 2015 was 71.2 per cent in Africa compared to 87.6 per cent in North America. He report added that global Gross Domestic Product, GDP, for 2015 was projected at $760 billion in 2015, which translated into higher profits and returns on capital for airlines in the year. Also, he said air fares are expected to fall as supply increases in 2015.

he downing of Malaysia Airlines flight MH 17 Boeing 777 on July 2014 en route Amsterdam to Kuala Lumpur with 298 souls onboard once again brought pains and agonies to the global aviation industry, barely few months after an earlier accident belonging to the same airline company. The Dutch authorities, which had 193 citizens onboard of the aircraft in its official report last week, alleged that the aircraft was shot down by a Russian-made BUK missile fired from Eastern Ukraine. Delivering its final report on the crash, the Dutch Safety Borad said the Boeing 777 tragedy was as a result of the detonation of a warhead to the left of the plane’s cockpit, but Russia in its swift response accused investigators of bias, carrying out political orders against it.

Airside is however worried that if the government does not take a proactive step, a similar thing may occur in Nigeria as the country’s airlines fly across crisis prone areas in the country, especially the North East where the Islamic sect, Boko Haram, has in the past few years turned to operational their base. A report few months ago purported that the sect had war equipment that can down a cruising aircraft, but as usual, the Nigerian military dismissed the claim. Airside however urges the government through the Nigerian Civil Aviation Authority, NCAA, to if possible to close down the country’s airspace in that part of the country until the Military finally crushes the remnants of the sect, which has vowed to cause more havocs to the Nigerian state.

TSA and the crumbling aviation agencies

ast August 7, 2015, the Federal Government directed all ministries, Departments and Agencies, MDAs, of the Federal Government to move all their accounts to Treasury Single Account, TSA, by September 15 or face sanctions. The Federal Government stated that all receipts due to it or any of her agencies were to be paid into the Federal Sub-Treasury account maintained in the Central Bank of Nigeria, CBN. But, later in September, the Federal Government reportedly exempted some MDAs from the directive and left out the entire aviation parastatals. Airside feels the government should review the scheme as it pertains to some agencies in the sector. For instance, the Federal Airports Authority of Nigeria, FAAN, and the Nigerian Airspace Management Agency, NAMA, are the two

organisations that require regularly spending of funds to sustain the system, but the compulsory movement of the two agencies to the TSA is already affecting their performances as all their revenues go straight into a dedicated account in CBN. FAAN, as an agency, requires funds to consistently refurbish the terminals and carry out some little upgrades within the airside without waiting for the government’s bureaucracy while NAMA on the other hand needs money to continually maintain its navigational equipment scattered in several stations even outside the airports. All these are suffering at the moment. Airside would like the government to have a rethink on the implementation of the TSA policy as it affects these agencies and prevent the total collapse of the country’s aviation industry because if any accident occurs now, it would further create avoidable crisis in the system.

Etihad Airways expands MRO capacity by 150%

he Middle East’s aviation Maintenance, Repair and Overhaul, MRO, facility, Etihad Airways Engineering said it has expanded its existing capability for painting aircraft at premises adjacent to Abu Dhabi International Airport by additional 150 per cent with the conversion of Hangar 5 into a state-of-the-art painting shed. The airline stated that the capacity of the MRO has been increased from 4,000sqm to 10,000sqm, which has increased the area dedicated to painting facilities at the airline’s engineering. The airline in a statement by its media consultant in Nigeria said hinted that the newly converted

paint hangar has additional chillers installed for enhanced air conditioning and temperature control, improved thermal insulation, and an efficient drainage system to suit stripping and painting requirements. The statement added that the hangar has also been equipped with an advanced aircraft docking system, which could be customised to serve different types of aircraft. The paint hangar also incorporates a large-format decal production facility, which would be used to repaint and rebrand Etihad Airways’ entire fleet of 120 aircraft with its ‘Facets of Abu Dhabi’ livery and branding over the coming months. Aircraft belonging to Etihad Air-

ways’ partners and other airline customers also undergo repainting and maintenance operations at the Etihad Airways Engineering facility. The Senior Vice President Technical, Etihad Airways, Jeff Wilkinson, said of the facility, “We have significantly increased our aircraft painting capacity with the introduction of a new paint hangar as we continue to expand our MRO capability on new aircraft platforms. “The team at Etihad Airways Engineering has the experience, expertise and equipment to undertake all kinds of heavy maintenance and aircraft painting for Etihad Airways, its equity partners and third party customers.”

Insurance

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

PenOp urges FG on payment of retirees’ accrued benefits StorieS by iSaac aSabor

he President of The Pension Fund Operators Association of Nigeria (PenOP), MisbahuYola, has called on the Federal Government to release the outstanding accrued rights of its retirees so that their benefits can be settled as soon as possible. Yola, who made the call in his recent interaction with journalists, pointed out that the delay in payment of the retirees’ accrued rights was affecting the confidence in the pension system. He said: “There are a few challenges with the accrued rights. We have been told that it would be paid soon. The last was paid in February, 2015. These are issues that affect the confidence in the system. Even when the exco of PenCom visited the presidency, they raised the issue of the accrued rights and the president promised the accrued rights would be paid soon. The accrued rights and outstanding contribution rights is about N100 billion or less.” The industry player explained that the smooth operation of the Contributory Pension Scheme (CPS) was already being distorted as the delayed accrued rights payment is bringing the failure of the old scheme to bear in the new scheme, thus making it look ineffective. He hinted that without the rights, operators may not be able to calculate retirees’ retirement savings account

Buhari

PenCom DG, Anohu Amazu

There are a few challenges wiTh The accrued righTs. we have been Told ThaT iT would be paid soon. The lasT was paid in february, 2015. These are issues ThaT affecT The confidence in The sysTem balance including their lump sum and programmed withdrawal, thereby leaving them without pensions. However, the Director-General, National Pension Commission (PenCom) Mrs. ChineloAnohu-Amazu, during the agency’s management fvisit to President MuhammaduBuhari, said that the payment of retirement benefits under the Scheme to retirees, as well as death claims to beneficiaries of deceased em-

ployees, were regular and timely with the exception of delays experienced in the settlement of accrued benefits of FGN retirees and deceased employees. She clarified that this occurs mainly whenever there were delays in the funding of the Retirement Benefits Bond Redemption Fund by the FGN as is the case in 2012, 2014 and 2015. She however said N483.33 billion had been paid into the Retirement Benefits

Bonds Redemption Fund Account by the FGN, which was invested by the Central Bank of Nigeria and yielded N7.71 billion between 2006 and March 2015. The PenCom boss also disclosed that the Federal Government was yet to release monthly mandates for the payment of accrued rights for September to December 2014, and April to August 2015 amounting to N35.30 billion, and that the accrued benefits of 8,193 retirees and death benefits of 4,847 deceased employees amounting to N48.39 billion were processed for the period, February to August 2015, but were yet to be settled by the Federal Government. She hinted that this clearly shows that even if the total outstanding monthly mandates were release there would still be a shortfall of N13.09 billion. Moreover, the total mandate for September to December 2015 was N20.08 billion while the total accrued benefits for the period was N23.12 billion, which left a shortfall of N3.04 billion. Thus, even if all the mandates for the period September 2014 to August 2015 were released, there will still be underfunded to the tune of N16.13 billion, she said. She therefore, requested for immediate payment of the outstanding amount in order to avoid crisis in the industry.

Argo Pro launches coverage for investment advisers, Mutual Funds

rgo Pro, a member of Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, has expanded its line of professional and management liability insurance products with a new specialty insurance offering for investment advisers and

mutual funds. Argo Pro’s Asset Management Playbook is now available to help protect investment advisers, wealth management firms, funds and other related financial institutions—up to $15 million in capacity—from potential liability risks associated with the professional services they provide to

their clients. Features of this specialty insurance product include coverage under one policy for investment adviser professional liability, investment adviser management liability, investment fund management liability, employment practices liability and fiduciary liability.

“As the complexity of today’s securities markets continues to intensify, investment advisers are becoming increasingly vulnerable to possible litigation, regulatory scrutiny and a host of emerging liability risks,” said Laurie Banez, senior vice president, chief underwriting officer, Argo Pro. “To keep pace with

such exposure, firms can take a proactive approach to managing their risk by protecting their interests with a flexible specialty insurance policy that can be customized to respond to their individual needs.” (Source – Insurancejournal. com)

Insurance

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

Nigeria Re pays 132.42m claims in Q2, 2015 Tola akinmuTimi

n furtherance of its commitment to timely settlement of claims, the Nigeria Re-Insurance Corporation (Nigeria Re) has paid well over N132.42 million claims in the second quarter of this year. Available reports on the payments showed that fire insurance recorded the highest claims at N70.75 million while Motor claims stood at N22.73 million at the end of the quarter. Others are Marine & Aviation, N20.38 million; General Accident, N9.53 million; Life, N4.5 million; CAR/ EAR, N2.7 million; and Oil & Gas, N1.83 million. The company has consistently posted impressive records in the all areas

of its business engagements in the risk underwriting business in the past few years, with robust indices of operational efficiency as the quarterly reports show. The Corporation’s Managing Director, Lady Isioma Chukwuma, had told the National Mirror in an exclusive chat of innovative strategies being undertaken by the Board and management of the foremost re-insurance entity to make it amongst the best reinsurance group globally. She said: “Nigeria Re, unfortunately is still at a level where I’m not really satisfied with. I know we could do better. So, it is my intention that in the next two three years, other things being equal, Nigerian Re should at least have been able to gain some let

me say about 50 per cent of the market. “I don’t want to be too optimistic even though there is nothing wrong in being too ambitious. But if we can gain at least up to at least 40 per cent or 50 per cent of the re-insurance market, that is our target and this will be good for us as a leading player in the market”, the industry expert added. On how she intends to achive the lofty dreams, Chukwuma who is also the President of the Chartered Insurance Institute of Nigeria, CIIN, hinted that the management had a lot of strategies in place and one of which “ is to improve our on service delivery, which we have done and improving on our paying claims ability”. She confirmed that as at the time of the interview, the Corporation had a

zero per cent outstanding claims.

Nigeria-Re MD, Isioma

ASSA to Acquire AIG Operations in Central America

SSA CompañíaTenedora, S.A. and ASSA Compañía de Seguros (ASSA) and American International Group, Inc. (NYSE:AIG) on October 15, 2015 announced that they have entered into a share purchase agreement under which, ASSA will acquire 100 percent of AIG’s operations in Central America located in El Salvador, Guatemala, Honduras and Panama. The transaction is subject to regulatory approvals in each country. In connection with the transaction, AIG and ASSA will establish an ongoing business partnership to pursue new opportunities and continue to deliver innovative products and unique customer experiences in Central America. “In looking for a partner in Central America, AIG found a world class player in ASSA. Its deep understanding of the Central American insurance market will help ensure that

Nicon Insurance building

customers in the region will continue to receive a full range of products and services,” said James Dwane, AIG President and CEO Latin America and the Caribbean. “ASSA moves toward its goal of being a leading insurer in Central America by adding AIG’s businesses including its talented teams in El Salvador, Guatemala, Honduras and Panama,” said Eduardo Fábrega, ASSA CEO. “ASSA will strengthen its ability to offer insurance products, serve a broad clientele and will become the only locally owned insurance group with a presence in all Central American countries.” ASSA is a recognized leader in the insurance market across Central America with presence in Costa Rica, El Salvador, Nicaragua and Panama. This agreement will allow ASSA to complete its regional footprint by entering the Guatemala and Honduras markets, as well as strengthen its in-

surance businesses in El Salvador and ASSA’s leading position in Panama, its home market. Until the transaction receives regulatory approvals, all operations, branches, products and benefits will continue to operate as usual. ASSA and AIG will work together to ensure a smooth transition for customers and employees. American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. (Source: www.aig.com/pressrelease)

Secular reinsurance pressures not yet priced into stocks – Bernstein

he “fundamental secular pressures” that have been affecting the reinsurance industry over the last few years have not yet been fully priced into the sectors stock prices, according to analysts at Bernstein. Pressures created in the reinsurance space, due to excess traditional reinsurer capacity, growing third-party capital from capital markets investors, consecutive benign loss seasons and restructuring of the way reinsurance is being purchased, continue to weigh on the sector. You’d be forgiven for thinking that this was by now fully baked into reinsurer share prices, especially given the constant flow of news and analysis on

the secular or structural pressures faced by the reinsurance industry. But analysts at Bernstein believe that the pressure has yet to be priced into the share prices of leading reinsurers, largely due to the benign catastrophe loss environment which has been “inflating perceptions of normalized earnings” and also merger & acquisition (M&A) premiums driving bid speculation into the sectors shares. This leads Bernstein’s analysts to insinuate that currently reinsurance share prices are overvalued, with issues such as lower pricing, more competition, the pressure from insurance-linked securities (ILS) and alternative capital not yet

priced in. The analysts say that they would look to become more interested in reinsurance as a sector if or when a hard market occurs after a major loss or series of losses. The analysts note that reinsurance pricing is continuing to soften, albeit at slower pace and with an expectation of that slow down to continue in January at the renewals. It’s also worth speculating that reserve releases have helped to buoy reinsurance share prices as well in recent times. If, as many expect, reserves do begin to become less of a factor given there haven’t been the losses to rebuild them, this factor could become less

important. It’s interesting to note this, as large private equity type investors remain interested in reinsurance. Meetings held at the recent Monte Carlo event with some of the world’s largest investors in insurance and reinsurance gave us the impression that investors appreciate the returns from reinsurance related investments, but are perhaps becoming less attracted to the enterprise and beginning to become more focused on the pure return of the risks underwritten. Could this suggest that an ILS style investment opportunity with equity style liquidity may become increasingly attractive to large equity inves-

tors? Perhaps. While share prices seem overvalued it’s likely that these investors will look to other areas of insurance, as evidenced by private equities continued push into insurance businesses that can offer longer term capital as well. With returns on equity (ROE’s) still looking poor among many reinsurers, when normalised catastrophe loads are added and reserve releases are taken out, it could help to make some institutional investors look even more closely at ILS options as a way to access the sector without the enterprise risk. (Source – artemis.bm)

Tuesday, October 20, 2015

Money

National Mirror www.nationalmirroronline.net

NIRSAL, stakeholders rally to reposition agric for improved performance In line with the Federal Government’s goals geared towards the diversification of the economy, the Central Bank of Nigeria, CBN, through its Subsidiary, Nigeria Incentive-based Risk Sharing System for Agricultural Lending, NIRSAL and other key stakeholders have intensified efforts in repositioning the agric sector for improved contributions to the nation’s economic growth. UDO ONYEKA reports.

he CBN had stated, amongst its key focus in the nation’s agricultural sector, to use the NIRSAL as a intervention tool to reposition the agricultural sector through the fixing of its value chains to promote sustainable and lucrative harnessing of its great economic potential for export commodities in the country. This aligns with the bank’s commitment to boosting the nation’s foreign exchange earnings from the agricultural sector and re-enacting its old glorious days as primary source of industrial inputs and locally produced food for the citizenry. Acting Managing Director, NIRSAL Plc. Mr. Edwin Nzelu, at a recent capacity building organized by the CBN, Bankers Committee and German International Corporation, GIZ, in Lagos said the aim of the training was to share knowledge and to gain from the experts on agricultural value chain financing “who will take you through the initiation and execution of agricultural credit requests and appraisal of it from farmers.” He said that capacity building is an important step in repositioning agric as a business. Nzelu recalled that the CBN in July 2011 launched the Nigeria Incentive-based Risk Sharing System for Agricultural Lending, NIRSAL. According to him NIRSAL is a holistic approach aimed at de-risking agricultural lending through fixing of financing and commodity value chains in the agricultural sub-sector. “This is with a view to reducing the perceived high risky nature of agriculture harbored by bankers towards lending to this all-important sector of the economy. It is noteworthy that agriculture contributes more than 23 per cent to the Nations Gross Domestic Products, GDP and creates about 65 per cent of job in the country in 2014. Many stakeholders have said that increasing attention of the CBN is well situated now that the price of crude oil has crashed. The CBN Governor Mr. Godwin Emefiele has said the time has come for diversification of the Economy by initiating an “Anchor Borrowers’ Programme” that will address the issue of local production of agricultural products that depletes the Nation’s foreign reserves with the huge import of these items. These heavy imports include, rice, wheat, tomato paste, fish, textile and sugar. “It is our belief and hope that this training will evolve another road map towards lending to agriculture, especially through the CBN Governor’s “anchor borrowers’ programme”, Nzelu had said .

CBN Gov, Emefiele

Bank of Industry MD, Rasheed Olaoluwa

The sTraTegic inTenT of nirsaL according To The cBn is To spark agricuLTuraL indusTriaLisaTion process Through increased producTion and processing of The greaTer parT of The commodiTies produced in The counTry To BoosT economic earnings across The vaLue chain The Governor said that the ‘anchor borrowers’ programme will make loans available to farmers at 9 per cent through MSMED Fund. This is in addition to NIRSAL’s provision of capacity building to both farmers and bankers. In order to improve funding to agric sector Emefiele said that NIRSAL share the risk with banks in event of default. For example, NIRSAL has guaranteed 454 projects valued N61.20bn and paid to banks N4.2bn claim settlement arising as a result of default by seed and fertiliser supplies under the Federal Ministry of Agriculture and Rural Development ,FMARD, 2014 Wet Season Growth Enhancement Support ,GES, Scheme. According to the Senior Technical Advisor,GIZ, Ayo Akinola, with over 50 per cent of the population living in cities, Nigeria has huge demand sinks for fresh and processed food and for products derived from raw material produced by agriculture, fishery, forestry and so on. He said that the growing imports are needed to satisfy Nigerians’ demand for such products despite the favorable weath-

er conditions, the landmass and the abundant human and natural endowments that can truly propel the Nigerian economy to greater heights. On his own the Country Director of GIZ, Dr. Thomas Kirsch said Agriculture is a good business for Nigerian producers provided that they combine technical and management skills with the required investments in quality inputs and equipment. He said that GIZ-Sustainable Smallholder Agribusiness, SSAB, Program has developed the Farmer Business School, FBS, in 2010 for 4 cocoa producing countries. “We supported extension services, micro-finance institutions, companies to train over 300.000 farmers in Farmer Business School. “The success triggered others to take the approach over. Together with other GIZ programmes we have implemented FBS for over 400,000 farmers in 12 African countries and across a number of value chains principally, cassava, cocoa, coffee, cotton, rice and tomato”, he said. According to the CBN governor training

is vital in the business relationship with banks and farmers. Corroborating Emefiele’s views, the Head of Sustainable Smallholder Agribusiness Programme, GIZ, Dr. Annemarie Matthess, noted that agriculture can be a business segment for banks provided that the specifics of this business are well understood by banks and built in meaningful and risk-reduced services. “This cannot be done from outside but needs to be done by banks and their staff themselves. Training may however help to make it easier and more enticing. Analysts have said that agriculture remained a major component of the real economy. The Federal Government and the CBN had in the past three decades designed and implemented various programmes and schemes aimed at addressing the problem of low investment in agriculture. These interventions have ranged from instruments such as the regulation with variants of credit quota and interest rate ceiling to institutional supports such as the establishment of NACB now known as Bank of Agriculture, Bank of Industry, BOI, Nigerian Agricultural Insurance Company, NAIC as well as the Agricultural Credit Guarantee Scheme Fund, ACGSF Recent interventions have also included the N200bn Commercial Agriculture Credits Scheme, CACS, the SME Credit Guarantee Scheme, SMECGS and the N200bn Restructuring and Refinancing Facility, RRF. The strategic intent of NIRSAL according to the CBN is to spark agricultural industrialisation process through increased production and processing of the greater part of the commodities produced in the country to boost economic earnings across the value chain. The apex bank stated that NIRSAL will stimulate innovations in agricultural lending, encourage banks that are lending to the agricultural sector, eliminate statedependency by banks for deploying loanable funds to agriculture and ensure a risk sharing system that will build a business approach where banks share in the risk of lending to the sector among others. It was also designed to increase the total value of agricultural lending from the current 2 per cent to 10 per cent of total bank lending within 5 years, leverage N450bn in bank lending into agriculture, thereby closing 60 per cent of the agriculture financing gap , enhance lending capacity by banks and development of a sustainable agricultural lending systems, processes and reduce banks’ perception of agriculture as highly risky ,through increased lending.

Global Business

Tuesday, October 20, 2015

September housing data eyed after August disappointed

.S. housing stocks could be in for a boost if September data due out next week confirms strength that market watchers expect. Home buyers returned from summer vacations to lower mortgage rates and increasing rents, and may have moved back into the market after staying away in August. Shares in the sector fell in mid-to-late September after August data missed expectations. The NAHB (National Association of Homebuilders) housing market index measuring seller sentiment is due out Monday, to be followed during the week by data that includes building

permits and housing starts, mortgages, and home prices and sales. While the PHLX index of housing stocks has risen more than 6.4 percent so far this year, it has fallen 3.6 percent in the last month. The index fell 9.9 percent from Sept. 16 to Sept. 29, the week when August data was released. Strength in June and July housing data may have boosted investor expectations to unrealistic levels for August, typically a slower month for housing, according to Susan Maklari, housing equities analyst at UBS in New York. Since the Labor Day holiday

Housing estate in U.S

in early September, Maklari has seen signs of improvement in channel checks around the country. “You’re going to see growth year-over-year coming through. It’s probably going to be in line with what people would expect for September, maybe a little bit better than that,” she said. Maklari cited strength in western U.S. markets such as California, where the technology sector is boosting employment and salaries. Weaker markets include the Washington D.C. area, where stringent government spending is causing uncertainty among potential home buyers. In Texas sales have weakened for homes in the $350,000 and above range, but demand is strong for homes priced at $200,000 and below, according to the analyst. Mortgage rate increases in both June and July, when rates for 30-year fixed-rate loans were at 4.25 percent, likely helped to dampen sales in August, according to Sameer Samana, global quantitative strategist at Wells Fargo in St. Louis. But he noted that the rate has since come down to 3.88 percent, which could influence people who were close to but on the fence about buying a home.

Typically Greek, delayed land register is never-ending epic

hen Greece applied for its first international bailout in 2010, only two countries in Europe lacked a computerized register of land ownership and usage. Albania was the other. Experts from European Union and International Monetary Fund identified the lack of legal certainty about property rights and land usage as a major barrier to investment, proper taxation and economic development. Five years on, Greece is on its third EU/IMF bailout. Each of those program has made a priority of completing a land register, known as a cadastre. Yet it is still

Greek Prime Minister Alexis Tsipras

less than half done despite spending hundreds of millions of euros with technical assistance from EU partners. Meanwhile Albania, a far poorer Balkan neighbors that is still a distant candidate for EU membership, has leapfrogged Greece and implemented a digitized land registry and zoning map, even if some holes remain. Greek newspapers call the neverending epic of the cadastre, started in 1995 with EU funds that had to be returned to Brussels in 2003 because of misuse, “our national shame”. It is a microcosm of everything that remains to be fixed in the country - bureaucracy, political patronage, competing layers of government, legal complexity, fiscal uncertainty, vested interests, cheating, tax evasion and opaque relations between the two biggest landowners - the state and the church. The continued absence of a comprehensive land registry is one reason why a privatization program announced in 2011 and initially meant to raise 50 billion euros ($56.73 billion) over five years has netted a mere 3.1 billion euros to date.

Roughly half of deals so far have come from the sale or lease of state land, including a flagship plan to sell the disused Hellenikon airport site next to Athens which is still stalled. The 50 billion euro goal was reaffirmed in the third bailout package agreed in August but stretched out over 30 years. The state cannot sell its prime real estate while disputes fester in the courts about ownership, boundaries and zoning. “We have to give investors certainty that whatever they get from the Greek state they can actually realize,” said Lila Tsitsogiannopoulou, executive director of the Hellenic Republic Asset Development Fund in charge of land privatization. “We still have a long way to go. We still have so many authorities.” The country even boasts a union of illegal house owners that campaigns to legalize their homes. Michael Vlahakis a 60-year-old pensioner from Heraklion, the main city on Greece’s largest island Crete, is president of the “Residents Outside Town Planning” club, which he says represents some 45,000 illegal home owners on the island.

National Mirror www.nationalmirroronline.net

GE reports strong profits off growing aviation sales

eneral Electric (GE) reported better than expected profits for the third quarter, stemming from jet engine and power turbine sales. GE revenue was $31.7bn (£20.5bn), down from $32.1bn last year, but helped by higher operating profits. GE reported a 4% revenue growth in the third quarter, despite seeing mechanical orders drop by 26%. The aviation sales offset declines from oil and gas segments caused by low prices globally. Shares of the US conglomerate were up close to 2% in New York just before midday. The stock had seen gains

throughout the month, following the announcement that activist investor Nelson Peltz owned a $2.5bn stake in the company. The earnings season has been somewhat disappointing, with big names such as JP Morgan and Wal-Mart coming out lower than expected. GE has been selling its financial businesses in an effort to move away from the banking market and its tight regulations. GE chief executive Jeff Immelt said effort to bring the business back in line with its industrial roots was happening at an “unprecedented pace”.

GE products

Tata Steel ‘set to cut 1,200 jobs’

he firm is expected to significantly reduce the workforce at its Scunthorpe steel plant, which employs 4,000 people and is one of the UK’s biggest. Tata may also cut jobs in Scotland, at Clydebridge in Cambuslang and Dalzell in Motherwell. The company declined to confirm the job cuts, but said it had been facing challenges in the UK such as a surge in steel imports, and the strong pound. A spokesman said: “We’ve made a number of structural changes to our UK business over the last months and years to make us more competitive. Like all companies we continue to review the performance of our business.” Tata employs about 17,000 people in the UK. The Tata steel works is at the very heart of this community.

David Cameron

For generations, the night sky has glowed over Scunthorpe, illuminated by the production of molten metal below. There’s concern here not only for the plant which dominates the northern Lincolnshire skyline, but for all the businesses and industry which feed into, and rely on Scunthorpe steel. One man told me that without steel, the town would be crippled. Wives, mothers, brothers and husbands - almost everyone in this town knows someone connected to the plant. “If this announcement comes true,” one shopper said, “It will be life changing for Scunthorpe.” But there has also been a feeling of reluctant acceptance that since the closure of the Redcar plant was announced, bad news may have been lurking on the horizon for Scunthorpe. The question now is just how bad that news could be for steel production in this town. And just how Scunthorpe will cope with the blow. Tony Gosling, a steelworker in Scunthorpe and a Labour councillor, said the job cuts would be “absolutely devastating”. “This area is still heavily dependent on the steel industry - a lot of the other small manufacturing companies all rely on it,” he said.

Tuesday, October 20, 2015

Capital Market

National Mirror www.nationalmirroronline.net

Appraising benefits of demutualisation for investors, economy Johnson okanlawon

ver since the Stockholm Stock Exchange became the first stock exchange to demutualize, it has become the model for Exchanges such that over 80 percent of members of the World Federation of Exchanges are demutualized Exchanges as at today. Demutualization then is the process by which a mutually owned organization transforms to a shareholder owned entity. Put in another way, it is the changing from a not for profit organization to a limited liability company where members of the mutual organization become shareholders and ownership and management are separated. Last week, the Nigerian Stock Exchange, NSE, said Rand Merchant Bank, RMB and Chapel Hill Denham, CHD have been appointed as financial advisers on the proposed demutualisation of the Exchange. The RMB is the corporate and investment banking arm of FirstRand, while Chapel Hill Denham is a Nigerian investment bank, providing financial advisory services to domestic and international corporations, institutions, governments and individual clients, investing in Africa. The bourse, which has the second biggest weighting on the MSCI frontier market index after Kuwait, is a major entry point to invest in Africa. It said in November that it was considering an initial public offering to attract more foreign investors. As a first step, the stock market plans to change its ownership structure from a mutual company of 240 brokers to add new shareholders. This year, shares in the oil producing-nation have lost around 12.8 percent to add to the 16 per cent loss last year. Foreign funds sold shares after the naira lost value due to the slump in the oil price. A statement from the Exchange said it employed a very rigorous and extensive selection process, commencing with a Request for Proposal, RFP, process which began on March 11, 2014 inviting qualified financial consortia to submit expressions of interest. The General Secretary, Independent Shareholders Association of Nigeria, ISAN, Mr. Adebayo Adeleke agreed that the NSE should be demutualised, saying that the issue is not about capital members or current members of the Exchange being allotted certain percentag. “When you say shares are made available then there is no reason why you should allot certain percentage to anybody, you allow the market to determine the flow of that particular shares. “People have right to buy and sell,

Nigeria Stock Exchange building, Lagos

EvEn if you arE bringing govErnmEnt, thEy shouldn’t havE morE than fivE to tEn pEr cEnt givEn to thEm. that is at thE fEdEral lEvEl so that thE govErnmEnt can nominatE somEbody to bE on thE board there are normal processes of allocation of shares. We are in tune with the demutualisation, we are okay if the SEC has suddenly found the courage to do the needful. We are also saying that the entire product can be fine- tuned such that the possession of the shares will go through the normal course where people have access. You can restrict people in terms of stealing but we don’t want one person to corner it. The President of the Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, said, “I don’t have any disapproval of demutualisation as long as the process will carry all Nigerians along and as long as soon as they demutualise; one person will not own Nigerian Stock Exchange, convert it as his own private estate but that the whole thing will go round to all Nigerians. “Everybody in the 774 local governments will have equity and be a stakeholder as soon as they demutualise the exchange and no individual or single organisation will own more than five percent but the NSE and dealing member will have at least 30 per cent stake holding because the dealing members are owners of the stock exchange.” According to him, the Exchange is a non-governmental, non-profit organisa-

tion, so if it is demutualised and quoted as Plc, they will begin to make money because now it belongs to private people. He added that Nigerians who own equity will have the council on the board on merit and it will foster growth in the capital market and people will have confidence. He said, “Even if you are bringing government, they shouldn’t have more than five to ten per cent given to them. That is at the federal level so that the government can nominate somebody to be on the board, because government raises bond and equity on the market which qualifies it to nominate somebody to represent its interest on the board.” Specifically, the Managing Director of Stanwal Securities Limited, Mr.Augustine Ofonagoro admitted that demutualization would go a long way to reduce overdependence on foreign investors and attract local ones into the market. He explained that when the NSE is fully demutualized and the ownership structure clearly spelt out, the generality of the populace would come to the knowledge that the Exchange is not government enterprise. “As NSE demutualizes and sell its own shares to the people, more people will know what is happening here and

they will bring all the money they are stocking else where here because they will believe that the place belongs to them. Right now, many of them think it is government enterprise. He however lamented over dependence of foreign investors in the nation’s bourse. “This does not augur well for the country. If anything goes wrong in their country, like in the global financial meltdown, they would sell off their investment in Nigeria to go and survive over there and that way, the Nigerian Stock Market would be at the receiving end. That is why we incurred the a lot of losses here because they dump their shares and moved outside.’’ The Chief Executive Officer of Lambeth Trust & Investment Company Limited, Imafidon Adonri said demutualization will enable the Exchange operate efficiently like a commercial business. According to him, this would give it greater latitude to explore more income generating possibilities, adding that with more income, it can acquire world-class facilities which will enhance its competitiveness. He added that it is also believed that as a business limited by shares, the standard of corporate governance and transparency will be enhanced and with this, several retail investors would have opportunity to be shareholders in the Exchange and hence be able to influence its development. Investigation showed that when the legal structure of a Stock Exchange is transformed through the process of demutualization, the ownership, the management and the trading rights at the Exchange are segregated. Thus, a demutualized Nigerian Stock Exchange will become a company limited by shares, having share capital and subscribers to the share capital or shareholders, a board of directors, management that is separate and independent from the board and subject to rules and regulation of company operations in Nigeria. What benefits are derivable from such a transition? It will ensure that the Nigerian market becomes more efficient and competitive as it will remove conflict of interest in decision making which characterizes mutual organizations. The Exchange as a commercial organization will be more aggressive as it becomes profit driven. It will be liable and responsible to its shareholders in terms of return on investment unlike the previous status quo where funds were internally generated and profit making was not a defined objective.

Features

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

Women strategise for adequate representation in governance Francis suberu

resently, Nigeria’s population is put at 178.5 million out of which the female folk is about 51%. But in spite of their huge number, women in Nigeria are hardly given their deserved recognition or representation in governance. For instance, of the 1533 elective offices contested in the 2015 elections, only 26 seats were won by female candidates. It is a matter of fact that the role of women in political equation for winning elections in the country cannot be overlooked; but according to the Lagos State Deputy Governor, Dr. Idiat Oluranti Adebule; it does not appear that women are aware of their own political advantages. If they are, to what extent and are they quipped to maximise such advantages? These and many more are questions that come to mind each time the subject of women participation in politics is discussed. That is why penultimate week, a number of women leaders gathered at Golden Tulip, Festac Town in Lagos to reassess women participation in the ongoing democratic governance in Nigeria. The gathering brought together past and serving deputy governors, first ladies, female lawmakers and women leaders from South-West states. Women leaders from Kwara State were also included in the conference, which addressed diverse issues on women in governance for three consecutive days. The conference was organised by the United Kingdom Aid Department for International Development (DFID) in collaboration with the Lagos State Deputy Governor’s office between September 29th to September 30th, 2015. It was reiterated at the conference that political gathering in Nigeria can never be complete without women but when key positions are to be contested for, women are not considered or at least encouraged to participate. The participants at the conference who addressed how women could take advantage of the minimum standard to a large extent, contended that just as politics and governance are siamese twins so should women and men be on the issues that affect the lives of both gender especially as they relate to governance. Therefore, the women who were unanimous in their call for an improvement in the positions available to women both in elective and appointment positions in government, called on President Buhari to provide more opportunities for women in his emerging administration. For the Lagos State Deputy Governor, Dr. Oluranti Adebule, the need to empower women and give them more chance in the country’s political space had necessitated the summit of women leaders in SouthWest and Kwara State. She said against the background of the percentage of the country’s population women share, the summit was designed to work out how to realise 35 per cent affirmative action for

(L- R) DFID South West Regional Coordinator, Dr. Sina Fagbenro –Byron, Lagos State deputy governor, Dr. Idiat Oluranti Adebule and the guest speaker, Senator Oluremi Tinubu and Mrs. Bisi Fayemi at the two-day Women In Government Conference organised by the Department for International Development (DFID) in collaboration with the office of the deputy governor at Golden Tulip Hotel, Festac town recently.

women in the federation. Adebule’s concern stemmed from the fluctuating trends in the statistics of women representation in government between 1999 and 2015. According to her; “if we say democracy and democratic governance which are critical to addressing the challenges of living, irrespective of gender are hinged on mass participation, since women form more than half of the population of Nigeria; why are women not in the majority of decision makers on issues that affect them.” The DFID’S South-West Coordinator, Dr. Adeshina Fagbenro-Byron, at the conference presented the level of gender accommodation in politics from only 28 representations in 1999 to just 26 representations in 2015, though recorded major progress in 2003, 2007 and 2011. According to the DFID’s regional coordinator, the aftermath of the 1999 elections showed that only 28 female candidates won elections out of 1533 elective offices keenly contested across the federation. At this period, the performance of female candidates at the poll was quite understandable because the country was just transiting to a democratic order after a 16-year unbroken military rule. For 16 years of sustained civil rule, female representation has grown in leaps and bounds, though declined significantly

in the last elections. But according to statistics, the performance improved significantly to 67 representations in 2003, thereby representing a growth of over 238 per cent in four years. Almost on the same scale, female representation grew astronomically to 94 in 2007 and 98 in 2011. But the outcome of the 2015 elections posed graver challenges for women representation countrywide. From 28 in 1999, according to statistics presented by Fagbenro-Byron, women representation dropped to 26 in 2015, which accounted for a negative change of 71.42 percent between 2011 and 2015. This poor record dominated conversations, which he said, deepened the country’s pains of exclusion. It indicated that the abysmal showing of women in the last general election “leaves much to be desired,” thereby seeking review of the 1999 Constitution of the Federal Republic of Nigeria and that of all political parties to include 35 per cent affirmative action. The conference sought the review, citing diverse challenges, which it said, often posed threat to the aspiration of the female candidates. Senator Oluremi Tinubu, representing Lagos Central District in the Senate, who was equally a keynote speaker at the conference, lamented that the 35 per cent affirmative action for women was not being followed across all political divides in the

From 28 in 1999, according to statistics presented by Fagbenro-byron, women representation dropped to 26 in 2015, which accounted For a negative change

71.42 per cent between 2011 and 2015. this poor record dominated conversations, which he said, deepened the country’s pains oF exclusion oF

country. She noted that while more women had come into governance and participated in elections since the advent of democratic rule in 1999, contended that the quest for reaching the 35 per cent women representation must be sustained until it is achieved and even surpassed. Tinubu added that since women constitute more than half of the population and also majority of voters during the elections, it is ironical that they are the minority compared to the male. After making the observations, the participants resolved “to advocate for 35 per cent affirmative action to be incorporated into the 1999 Constitution and the constitution of the political parties and pursue building of platforms to make political demands from our party political leaders. The participants also agreed that they would henceforth ensure that women contesting elective offices build enough political capital through robust engagement at the community level and volunteering for recognition. They resolved “to advocate for the appointment of more women with merit and competence into positions and produce more credible candidates for elective positions.” They agreed “to ensure women in politics leave good legacies behind for the upcoming aspirants and set motion in place to institutionalise women struggles through the passage of key legislations in every state and ensure women in political position use their good offices to effectively represent and project needs of women and not block opportunities for upcoming female aspirants.” In all, the participants resolved to raise the consciousness of men and engage some as the champions of equality and women’s empowerment, which they believed, was strategic to realising 35 per cent affirmative action. But to reverse the trend of painful exclusion, they all floated a Political Action Committee, which they said, would solicit for funds and distribute to vetted female aspirants.”

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Features

Tuesday, October 20, 2015

Determined to sustain polio-free Nigeria It wIll take a lot

Dare akogun

of hard work to

ecently, the World Health Organisation (WHO) announced that Nigeria has not recorded a single case of poliomyelitis (polio) since July 24, 2014, thereby pronouncing the country victorious in the fight against the dreaded disease that has plagued it for years. The organisation stated that Nigeria has been officially removed from the list of countries where polio is endemic. According to the statement issued by the reputable body, “It’s been 14 months since any cases of polio caused by the wild virus have been detected there.” “With Nigeria’s historic achievement, polio remains endemic in only two countries; Afghanistan and Pakistan,’’ it stated. So, on July 24, 2015, Nigeria celebrates one year without the crippling Polio Virus knocking down another child, the longest it has gone without recording a case. A visibly elated President, Muhammadu Buhari, determined to sustain the nation’s polio eradication efforts, affirmed his administration’s resolve to ensure that Nigeria was finally certified polio-free by 2017. He said to become permanently poliofree; Nigeria must build on its achievement of being polio-free for 12 months. “I want to reaffirm the commitment of the Federal Government to sustain the gains and momentums to enable Nigeria achieve certification by 2017. “I am therefore inviting all Nigerians to join me in actualising this pledge as experts have cautioned that the progress we have made in the polio eradication efforts is still very fragile. “There is the risk of gains reversal if we don’t sustain this great effort and allow complacency to set in. As you are aware, the fact that we have not had any case of polio for over a year now, does not mean that we are polio-free. “It is just one of the milestones on the path to being polio-free. I understand that for Nigeria to be certified polio-free, we have to sustain this zero polio case status. “We also have to strengthen surveillance in order to detect quickly any case of polio anywhere in the country, improve routine immunisation coverage and provide the needed human and material resources,” he said. The president therefore urged state governors to diligently supervise the polio eradication programme in their states and join the Federal Government in ensuring that the required resources were provided and efficiently utilised to achieve the desired result. “Between now and 2017, we must ensure that we continue to build confidence in our people to present their children and wards for immunisation. “We also need to interface regularly with our local government chairmen to ensure that there is no complacency. “We must make Nigeria polio-free in 2017. We must put all our efforts to achieve this milestone for the sake of our children, future generations and the overall health and well being of the nation,’’ he said.

remaIn polIo-free as campaIgns wIll need to contInue and vaccInes wIll have to reach all chIldren In the country several tImes a year Imoke during immunisation

At a campaign against polio

Reacting to the president’s statement the Executive Director of the National Primary Health Care Development Agency, Dr. Muhammad Ado, said he is confident that Nigeria would be taken off the polio list in 2017 and certified polio-free. He pointed that with persistent committed efforts to finding concrete and sharp solutions to overcome the remaining bottlenecks the task is achievable. Ado noted that maintaining this zero status involves improving routine immunisation and maintaining high quality campaigns. “If this progress is sustained with no reinfection and surveillance remains strong, Nigeria and the rest of Africa will achieve polio eradication by 2017. “It will take a lot of hard work to remain polio-free as campaigns will need to continue and vaccines will have to reach all children in the country several times a year. We recognise the need to sustain and re-double our efforts to ensure every child is reached,’’ he said. Health experts, nonetheless, opine that eradication of polio globally would depend primarily on stopping the disease in Pakistan and Afghanistan, insisting that as long as polio exists anywhere, it is a threat to children everywhere. However, Nigeria’s chairman of the Expert Review Committee on Polio Eradication, Oyewale Tomori, pointed that for one that has battled the virus for 20 years, he reminded Nigerians that the country almost

kicked out polio once, only to fall back during elections in 2007 and 2011 when money was squandered on political campaigns at the expense of vaccinations. But an analyst, Jennifer Cooke, said that since 1988, the Global Polio Eradication Initiative (GPEI) an international partnership of government and private institutions has reduced the number of reported polio cases worldwide by more than 99 per cent. Beyond foreign interventions on the fight against polio, medical experts insist that stakeholders should made concerted efforts to sustain the success of the country in that regard.

Vaccination execises

According to them, Nigeria has brought the world one major step closer to achieving total polio-eradication globally and it is critical that stakeholders use the opportunity and ensure that future generations are free from polio. At any rate, Nigeria still has two more years before it can be certified officially polio-free by the World Health Organisation, WHO. Provided transmission is interrupted entirely and sudden flare-ups and reversals are kept in check. That’s a daunting task really and for several reasons too. The issue of the threat of dreaded Boko Haram sect extremists, with renewed violent and bloodletting in more communities in the North-East displacing several thousands of women and children health experts are worried that immunisation drive might not be too easy. What that means is that access of vaccinators to locations beyond the state capitals is severely constrained, thus exposing health workers to danger as they try to test sewage and stool samples of refugees to ascertain the presence of the virus. The anxiety is not exactly unjustified as the poliomyelitis virus can cause irreversible paralysis within hours of infection and often spreads among young children especially in areas with poor sanitation, a factor that makes it thrive in areas of conflict and unrest. It is hoped that the December deadline given to the security chiefs by the president to end the menace of the sect, the security of the areas will be improved and health officials will be able to access the interiors where the virus is rampant.

Tuesday, October 20, 2015

Global Business

Alibaba lobbies to stay off U.S. blacklist list for fakes

hinese e-commerce giant Alibaba Group Holding Ltd is lobbying hard to stay off the U.S. Trade Representative’s blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms. Re-inclusion on the USTR’s annual list of the world’s most “notorious markets” for sales of pirated and counterfeit goods, while not carrying direct penalties, would be a blow to the company’s efforts to shed perceptions that its sites are riddled with fakes and that its anti-piracy policies are inadequate. It could also hurt Alibaba’s beleaguered share price. Two Alibaba sites - the business-tobusiness platform Alibaba.com and the hugely popular Taobao Marketplace - were on the USTR’s “Notorious Markets” list from 2008. Alibaba.com was removed in 2011. Taobao was taken off in 2012 for its “notable efforts” to work with rightholders to clean up the site. On September 10, the USTR called for public input as it formulates its latest list, expected in the coming months.

Jack Ma

At least three industry bodies have publicly responded with criticism of Alibaba, alleging counterfeits remain widespread on its sites and that the company is difficult to work with or inefficient when seeking redress. The company’s new government affairs chief, Eric Pelletier, who took up the post in June, has sent two formal letters to the USTR this month,

including a rebuttal of the industry group criticism. Last week, Pelletier and an Alibaba lawyer met with an inter-agency working group coordinated by the USTR to discuss Alibaba’s anticounterfeit efforts, a source with knowledge of the matter said. In his letters, Pelletier says Alibaba has gone above and beyond in dealing with the problem, but that primary responsibility for policing and deterring infringements rests with brand owners, according to copies seen by Reuters. He said the company had made it easier this year for brands to remove listings of suspected fakes while toughening penalties for merchants who violate company policies. “When you step back and look at our overall efforts to combat illicit activities, our track record is clear. We are certainly not perfect, and we have a lot of hard work ahead of us... we will continue to do everything we can to stop these activities,” he wrote.

National Mirror www.nationalmirroronline.net

Air France to cut jobs in 2016, rest of plan negotiable – CEO

ir France will cut less than a third of the 2,900 job cuts it proposed in a 2016/2017 plan that triggered clashes with some staff, the chief executive of parent company Air France-KLM (AIRF.PA) said on Sunday. The job cuts in 2016 would be voluntary and heavier job losses in 2017 could be avoided if talks with unions led to an agreement on alternative savings measures by the beginning of next year, Alexandre de Juniac said. The airline earlier this month presented a ‘Plan B’ of job losses and flight cutbacks after failing to get pilots to sign up to productivity measures that would have involved working more hours for the same

pay. The announcement of the cuts package led to scuffles during which senior managers had their clothes ripped, in embarrassing scenes for the French government as it tries to boost investment to bring down unemployment. “The ‘Plan B’ takes place over two years, 2016 and 2017. For 2016 it is under way,” he said in an interview on RTL radio and the LCI news channel. “If negotiations are successful by the start of 2016, we can avoid implementing Plan B for 2017, which means reverting to the ‘Plan A’, the ‘Perform’ plan,” he said, reiterating the position expressed by his board on Thursday.

Credit Suisse’s Thiam set to show hand as CEO

hen Tidjane Thiam unveils his plans for Credit Suisse on Wednesday the Swiss bank’s new chief executive will likely rest his case on three Cs: capital, cuts and charm. Thiam will show his hand after taking the reins at Zurich-based Credit Suisse in July from British insurer Prudential. Investors expect him to refocus the bank’s business toward wealth management and asset management, while shrinking its investment bank and closing the capital gap on rivals. Expectations remain high for Thiam after news of his appointment in March sent the bank’s shares soaring almost 8 percent. “Big ships are hard to turn,” said one top 20 investor in Credit Suisse, Switzerland’s second-biggest bank behind local rival UBS.

Tidjane Thiam

“But… he knows how financial markets work. I think he will announce some sales, a little-biggerthan-expected capital increase... and an improving dividend story.” Thiam’s predecessor Brady Dougan faced criticism for not following UBS which scaled back its investment bank, an industry in flux since the financial crisis, and focused on more stable wealth management. Credit Suisse’s capital position has also been a persistent concern for investors. Credit Suisse declined to comment ahead of the Oct. 21 strategy update when the bank will also present its third-quarter results. Near the top of Thiam’s agenda at presentations in London will probably be a move to tap the market for cash. The consensus is for the bank to seek at least 5 billion Swiss francs ($5.2 billion). However, Thiam may hold off on giving an exact figure before Switzerland outlines tougher capital rules due by the end of the year. Zuercher Kantonalbank analyst Andreas Brun said a new requirement in line with the 5 percent leverage ratio target cited in an unconfirmed report would leave Credit Suisse with a 5 billion franc shortfall in core capital based on his full-year estimates. Along with a cash call to investors, Thiam is expected to signal more explicitly that private banking and wealth management will be a central priority.

Credit Suisse is the world’s fourthbiggest private bank by assets after UBS, Morgan Stanley and Bank of America Merrill Lynch. A renewed push in high-growth Asia, where Credit Suisse is the third-largest player, would be key. Investors expect Thiam to trim the investment bank to which Credit Suisse allocates around 60 percent of its leverage capital, according to Morgan Stanley analysts. Shedding or shrinking cash-intensive units like its macro products, prime brokerage and fixed-income businesses would help Thiam free up much-needed capital. Credit Suisse could also cut up to 2 billion francs in costs, sell its U.S. private bank and shake up parts of its top management, the Schweiz am Sonntag paper has reported. Kepler Cheuvreux analyst Dirk Becker cautioned this more incremental approach could be a letdown to investors who had hoped for a dramatic revamp, which might have included a purchase of Swiss private bank Julius Baer. “A bit of cost cutting, a bit of downsizing of investment banking, a bit of reorganisation and, in order to pay for it, raise capital -- that would be very disappointing unless he pulls a rabbit out of the hat,” said Becker, who has a “reduce” rating on the stock and a 22.50 franc target price. To avoid any disappointment Thiam will lean on the same charm that has won over the Swiss media -- long-time critics of his predecessor Dougan -- and pleased investors.

Air France aircraft

Paris climate summit: Major oil producers back ‘effective’ deal

he leaders of 10 of the world’s biggest oil companies have offered their qualified support for a new global treaty on climate change. The producers of 20% of the world’s oil and gas say they share the ambition to limit warming to 2C. They promise to work to reduce the greenhouse gas intensity of the global energy mix. But green groups were dismissive, saying that “arsonists don’t make good firefighters”. The Oil and Gas Climate Initiative represents major producers including BP, Shell, Saudi Aramco and Total among others.

Oil refinery

Sometimes in all these discussions you have the impression that all fossil fuels are the bad guys. But the bad guys are part of the solution Patrick Pouyanne, CEO, Total In their declaration they call for an “effective climate change agreement” at Cop21 - the 21st UN conference on climate change, which takes place in Paris at the end of November, when 196 countries will attempt to reach a new deal. “Our shared ambition is for a 2C future,” the 10 chief executive officers said in a statement which acknowledges that the existing trend of the world’s net greenhouse gas emissions is not consistent with this aim.

National Mirror www.nationalmirroronline.net

StorieS by oSahon JuliuS YENAGOA

he Timipre Sylva Campaign Organisation has deplored and condemned the campaign strategy of the Peoples Democratic Party, PDP, candidate, Hon. Seriake Dickson, as dominated by falsehood and deceit. It described as unfortunate the fact that Dickson had chosen the alleged defaming of the All Progressives Congress, APC, governorship candidate, Chief Timipre Sylva, as sole campaign message. In a statement in Yenagoa by Mr. Doifie Buokoribo, Sylva campaign team said such a strategy would fail the Bayelsa PDP governorship candidate at the December

Tuesday, October 20, 2015

Dickson, PDP campaign full of falsehood, deceit –Sylva

5 election just as it failed his principal, former President Goodluck Jonathan, at the last general election. Timipre Sylva Campaign Organisation stated: “We are disturbed that a sitting government desiring re-election has taken to a campaign of calumny, deception, and lies and a sole election strategy. In lie after lie, which we have extensively exposed, they have tried to malign the character of Sylva. But it is clear that Dickson and his co-travellers will fail. “They will fail in Bay-

elsa State, as we are all living witnesses to how such campaign of slander and mudslinging fell flat at the federal level, when it was applied by their principal, Dr. Goodluck Jonathan, during the last presidential election. This fact is indubitable, and we ordinarily would not have bothered about Dickson and PDP’s mission of self-destruction in Bayelsa State. “But we need to warn that in this election, we are not in a contest for who would abuse most, but in a contest to improve the lives

of the people of Bayelsa. “What comes out clearly in the current well-funded media campaign against Sylva is that it carries the official stamp of the Dickson administration. The visibly unimaginative and dull anti-Sylva publications have emanated from Government House, Yenagoa, as the email addresses, forwardings, and other imprimaturs of the Dickson government on them show. “Obviously, the campaign of calumny against Sylva is a deliberate policy of the Dickson administra-

tion, his only election plan, because, as we have repeatedly pointed out, he is evidently incompetent and ignorant of any achievements to campaign with. “In their latest rant, they claimed that Sylva was bankrupt. Well, while Dickson is celebrating that Sylva is bankrupt, we are celebrating Dickson’s imminent defeat. “But what is this obsession with Sylva’s finances. We thought Dickson’s folks should be preoccupied with rolling out his achievements in government. The people want to see what has been ‘restored’ these four odd years”,

Sylva himself wrote on his Facebook page on Sunday. “The celebration of Sylva’s imagined insolvency is absurd. Simple Political Science 101 teaches that that once a candidate emerges through a primary, the responsibility of funding his or her campaign rests squarely with the political party. It is unfortunate that Dickson is personalising the coming election in Sylva. “While Dickson pretends that he is not interested or interfering in affairs of Sylva and his party, APC has become his nightmare. One thing is clear to the whole state. Sylva will win.

Shun stomach infrastructure, group tells electorate

L-R: Chief Ofoni Edema, Chief Emma Jones, Chief.C.D. Ikomi, Chief.S.S.Rone and Prince Toritseju during the visit of the Itsekiri Nation to the Regent over death of Olu of Warri, HRM. Ogiame Atuwatse II.

PDP to APC: Transfer of DSS, Police bosses, plot to rig guber election

he war of words between the Peoples Democratic Parry, PDP, and the All Progressive Congress, APC, ahead of the December 5th gubernatorial election continued at the weekend with the state chapter of the PDP accusing the APC-led federal government of plot to rig the election with the sudden transfer of the State Director of the Department of State Security (DSS), Bassaleg Al-Hassan, and the State Police Commissioner, Paul Okafor. While the Police Commissioner, Paul Okafor, was transferred last month, the Director of the DSS, Bassealeg AL-Hassan, was transferred last week. The state chairman of the Peoples Democratic Par-

ty (PDP) in Bayelsa State, Chief Serena Dokubo-Spiff, said the sudden removal of the police commissioner, Paul Okafor, coming shortly after similar transfer of the state Director of Security , Baba Alhassan, from Bayelsa State, and just a month to the election raised questions about the motives for such actions. Dokubo-Spiff condemned the transfer of the two security chiefs whom he said were well experienced and understood the terrain of the state so well to make the decision of their transfer “unwise and curious” at this period in the state. “The actions of the power that be in Abuja over these transfers really beg the issue. They are curious as it clearly

gives us the logical feeling to think twice about what could have been the reason for transferring the two main security heads in Bayelsa State just about a month to the election? “We in the PDP believe that this is a calculated move by the APC-led federal government to use the security apparatus in the state to rig the election in favour of its candidate in the December 5 governorship election,” he stated. The PDP chairman claimed that since the transfer of the two top security officers, there had been noticeable influx of criminals into the state with major threat to the security of lives and property, insisting that the APC was acting in concert with the federal government

to rig the election. “Since the transfer of these two top flight officers, we have noticed the sudden influx and return of cultists, militants and other undesirable elements into the state who are already attacking and kidnapping innocent Bayelsans. Security bases and posts are also being attacked with arms being carted away to create an arms base for the cultists preparatory to executing plans of rigging the elections. “Our findings also indicated that the APC was so obsessed with the rigging plan that it will inevitably involve violence and intimidation by various federal agencies, including security personnel to rig the election,’ he asserted.

head of December 5, 2015 gubernatorial poll in Bayelsa State, an election advocacy group, Alliances for Credible Election - Nigeria, has urged the people of Bayelsa and the electorate to shun the stomach infrastructure syndrome and vote according to their conscience. The non-governmental organisation gave the advice during a stakeholders summit with participants drawn from the Nigeria Labour Congress, Trade Union Congress, Christian Association of Nigeria, Muslim Communities, the media and Persons Living with Disabilities, among others. Speaking at the occasion, the Acting General Secretary, ACE-Nigeria, Mrs. Nma Odi, advocated a peaceful, non - violent and credible election in the state, saying the summit was organised to warn electorate that they would be mortgaging their future if they indulged in the practice of money for vote. She explained that the concept of democracy was better expressed in an atmosphere of free, fair and credible election, warning that brigandage, thuggery, corrupt practices, intimidation and disorderly conduct were anathema to democracy. Odi said, “Democracy depends on the people. The concept of democracy is expressed in a free, fair and

credible election. The foundation of every democracy is that election should be free and fair and that electorate exercise their franchise without intimidation. “Free and fair election cannot tolerate violence of any kind such as thuggery, corrupt practices, threats, undue influence, intimidation and disorderly conduct. “There should also be assurance that free, fair and credible election shall be held at regular intervals to elect new leaders and that it is one of the cornerstones upon which the foundation of democracy is built.” She explained that competitive election provides the electorate with political choice, noting that the development is expressed in the ability of the voters to weigh political parties, their ideas and their candidates. A resource person, Mr. Anyakwe Insirimobu, urged the candidates flying the flags of different political parties in the state to shun hate campaigns. He mentioned ballot box snatching, hate campaigns, intimidation, among others as some of the causes of electoral violence. He advised the electorate to make wise choices and vote for candidates they believe could deliver on the dividends of democracy. He said it was unfortunate that the voters do not know their powers, adding that in democracy, sovereignty belongs to the people.

Tuesday, October 20, 2015

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Queen Nigeria visits IDP camps in C’River StorieS by richard Ndoma CALABAR

he reigning Queen Nigeria, Miss Diamond Okoh has expressed passion for the less-privileged persons in the society. The queen’s priority is principally focused on the Internally Displaced Persons (IDPs) in Nigeria who she intends to provide psychological, social and economic succour. The pet project “Go the extra mile with Diamond” is an impetus that has driven her passion to aggregate human needs and comfort as necessity for life and that philan-

thropist all over the world through her could reach the under-privileged in the society. The Queen Nigeria’s recent enthusiastic drive took her to some IDP camps in Cross River State where she interacted with the people and gave them hope for the future. At the Bakassi Returnee camp at Ikot Eyo Edem in Akpabuyo Local Government Area where over 2,000 persons are camped the Queen was visibly aghast by the low level of human dignity and the general sufferings of the people. She described the socioeconomic status of the people as appalling as she

noted that the IDPs camp was not dignifying by any standard considering the fact that they were living in classrooms of a secondary school in very congested situation and with little or no privacy. In addition, the school children are deprived of the use of the facility of five classrooms since the returnees arrived on March 7, 2013. Listening carefully to their ordeal as narrated by the camp commandant, Etim Okon Ene, Miss. Okoh said that she would use her office to reach out to relevant authorities and philanthropists all over the world to come to their plight.

The Queen Nigeria’s zeal also took her to the displaced people of Agwagune who were displaced by perennial twin natural disasters-flooding and landslide which occurs simultaneously. The journey to Agwagune Village suffering from the natural disaster was through canoes while about half a kilometer was made on foot though muddy paths. The Director-General, Cross River State Emergency Management Agency (SEMA), Mr. Vincent Aquah, who conducted the Queen to the IDP camps described her as a personality worthy of the title taking cognisance of

Bayelsa Commissioner for Education, Mr. Dien Benadoumere (left), presenting an award of best performed corps member to Mr. Afure Erhomar Hua, at the passing-out of NYSC 2014 Batch ‘c’ corps members, in Yenagoa.

her passion for the lessprivileged in the society particularly the IDPs. Mr. Aquah who was represented by the Deputy Director in charge of information, Mr. David Akate said that the federal and state governments were collaborating in the construction of resettlement houses for the IDPs about

1 km from the affected village. He said over 2,000 families of Agwagune located along the coast of the Cross River had been displaced over the years accessioned by flooding and landslide which had destroyed over 90% of the landmass and had therefore been declared inhabitable.

C’River PDP celebrates Bassey’s victory at tribunal

he Cross River State chapter of the Peoples Democratic Party (PDP) has celebrated the victory of one of its candidates, Sen. Gershom Bassey, and its House of Representatives candidate, Hon. Bassey Ewa, at the National Assembly election tribunal in Calabar. The state party chairman, Ntufam John Okon, stated that the victory of the two principal members of the party was an indication that “democracy has taken root in the state.” He added that the PDP had been vindicated by the victory as the party went to all the nooks and crannies of the state to canvass for votes, a situation which the party chairman said had contributed significantly to the victory of stalwarts who contested election on the platform of the PDP. “The victory of Gershom Bassey and that of Bassey Ewa has vindicated us as party. It shows that we actually are on ground in the state and there is no way that vic-

tory would have gone the other way round,” Okon stated. Ntufam Okon explained that there was no point for Senator Bassey Otu to have gone to seek a reversal of the victory as he did not do enough to warrant such reversal. “You know Prince Otu was a member of our party and he only left after the primaries. We knew that he would not win given the way we campaigned for our candidates. Don’t forget that we have since put structures within the party and that helped us during the elections,” the PDP chairman added. Ntufam John Okon recalled that after the party’s primaries last November, he made efforts to woo back the former senator to the party but regretted that all such efforts were futile. “Honestly, we do not have anything against him, and we wish that he returns to the party soon. We promise to welcome him back so that together, we can strengthen the party and move it forward,” he explained.

UCTH lauds FG for prompt intervention over Ebola scare

he University of Calabar Teaching Hospital, UCTH, at the weekend lauded the federal government for its prompt intervention following the news of alleged Ebola scare at the hospital. It would be recalled that the federal government sent a delegation from the Ministry of Health to assist the UCTH immediately rumour broke out October 7, 2015, that there was a reported case of Ebola and subsequent death

of a patient after the patient presented symptoms mimicking viral heamorrhagic fever in the hospital. The situation led to the quarantining of 15 staff that had contacts with the patient for further examination. Subsequently preliminary tests were conducted by relevant authourities in line with international standards and it was proved that there was no case of Ebola nor Lassa Fever.

A press statement signed and issued by the Chief Medical Director of UCTH, Dr. Thomas Agan, and made available to National Mirror in Calabar, stated that the attention paid the hospital on alleged outbreak of Ebola is a demonstration of importance the Presidency pays to public health institution. “We are delighted at the prompt attention paid the hospital on getting wind of the news and the immediate dispatch of a

team of experts, an indication of importance the Presidency pays to public health-care delivery. “Besides, the maturity with which the Ministry of Health collaborated effectively and harmoniously with the Nigeria Centre for Disease Control, NCDC, and WHO in handling the alleged reported case as well as subsequent decontamination of Accident and Emergency Unit of the hospital is worthy of commendation,” Agan stated. The CMD maintained

that public enlightenment on the issue by relevant agencies of government assured the international community that Nigeria is Ebola-free, stressing that UCTH was fully prepared to discharge its tertiary health services if given the right facilities and environment. Agan averred that the alleged reported case might have given Mr. President an insight into some of the challenges facing the teaching hospital in Calabar.

The UCTH boss lauded stakeholders and members of the public for their individual and collective roles in bringing the scare to an end and charged government to give the UCTH a priority attention considering “its strategic roles it plays as a tertiary health care provider to patients in Nigeria and sick people from neighbouring Republic of Cameoon given the fact that Calabar is situated within the border axis with the Cameroon and Equatorial Guinea.

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Tuesday, October 13, 2015

Politics

at repositioning Nigeria –Suswam not me and there was a board that approved it, why it has become such a big issue, I don’t know. Whether it is because I have lost election that it has become an issue, I don’t know.

w days ago that the governor

he money Is not enough, and

nt just four months In offIce

of those things were traded heavily before I came into office. I also have details and bank statements of what was traded before I became governor. It is not unusual for BIPC to trade shares of companies that Benue state has bought into, that is their job. Since Aper Aku’s time, nobody knew that the state has a vast land in one village in Nasarawa State, go there now and see what is happening today, we discovered the place through these shares and my government was able to build a huge market there, and estate in Mabushi here in the FCT. All these have been achieved through these shares. BIPC traded the shares; I never did because I didn’t have power to do so. BIPC sold shares and

You talk of reliance on federal allocation what happened to the agricultural potentials of Benue state? I assumed office in 2007 and if you are somebody who frequents Benue state, you will know that Benue State is basically a rural environment. Agriculture is not just going to the farm; there are a lot of things associated with it to make it viable and that was why my concentration was on rural and road infrastructures because the farmers after the subsistent farming they were engaging in were unable to move those farm produce to the market places because of lack of good roads. There was no way to engage in Mechanized or large scale farming. One of the factors that contributed to making agriculture viable is that there must be free movement of those goods. I decided to spend the chunk of the money on providing rural infrastructures which is roads and I decided that we will construct roads in virtually all the zones. As you all know, road projects are the most expensive infrastructure that you can engage in as a government. I did a very successful road which was commissioned from Katsina-Ala through to Logo, from Adikpo to Ikyogen which was commissioned; I started a road between Vandeikya and Adikpo which seventy per cent of the chunks was done, from Ushogo to Konshisha which is still ongoing, then I went to Zone C and constructed a lot of roads. I embarked on water projects. Those things are the main drivers of agriculture and for you to diversify, the basic infrastructure must be available on ground, and those basic infrastructures were not there so we had to lay the foundation. Benue state is not a cosmopolitan city; the only industry that is in Benue State and was surviving then was Benue cement which is now Dangote cement but he was closing in and out. I decided to bring in Board of Internal Revenue Service,BIRS. I tried to refocus it but unfortunately, it was making noise more than what was coming, the highest revenue that we generated was N250 million, the chairman of the board Moses Ayabam kept saying that he was generating N1billion so people started saying Suswam was sitting on N1billion. The new administration has come in they have been investigating; they called and discovered that there was nothing like that. It was basically payee, which is in and out. When you cut civil servants pay as you earn, because the money is not enough, you cut it on paper and it remains on paper that it is cut, but you use it in paying their salaries. It is not going to the coffers as revenue but it is reported as revenue and that one was like about 600 to 700 million a month and when you take what he was generating, 250 million a month, he will say he was generating 1billion, it was all lies, Benue state had never at anytime generated up to 400million a month. It was not possible for you to generate money that will compliment what we were receiving from the federation account. The government is probing me and investigating, they will discover that it is impracticable. Throughout my period as governor, with all the effort we put in the highest we generated in a month throughout my eight years was N250million but it was because Dangote paid some money from the factory. On the issue of diversification, the current administration can leverage on that because some of the basics are there; I put in good roads in place where roads never existed, electricity where it never existed, water and since government is a continuum, we are building blocks. What is your view on the probe committee set up to investigate you? As human, our approach to issues differs and also depends on different background and what we intend to achieve. My approach to life generally is that life is very

short, so why creating problems when you can avoid them. When I came in, I met several issues on ground but I felt that there was no basis for me to start emphasizing on those issues because the people voted for me not to come and start saying that the outgoing governor has done this and that, they voted for me because I promised that I was going to come and make a difference and I concentrated on that right from day one and I avoided situations that will create unnecessary conflict in the state. The approach of the current leadership is totally different, so you can’t compare two different people with different approach. I have no quarrel with the probe, but I am waiting for the outcome to see how the events will unfolds. I won’t be in the position to say they are setting a bad precedence, whether bad or good, it depends on who is setting the precedence. Why are you then challenging the probe panel? When you set up a scud and bias panel, why won’t I go to court? Look at the members of that panel, are they not all APC members? Apart from the judge, every other member of that panel is an APC member so do you believe that I will get justice from such a probe? I believe that it is only when I go to court that I will get justice. Now that you have left office as governor, what are you into? To be precise how is life outside government? Going by our background, every Benue indigene is a farmer by nature and while I was in office, I was doing some bit of farming and so for now, I intend to go into full time farming, and by the side, we also form a consultancy firm that will be doing consultancy in different areas. Giving my background and some of the associates that I have, some with financial background, some with social background, we are well equipped to provide consultancy services in a lot of areas, so we will be doing that but fundamentally, we will be paying more attention to farming. Why were you absent during the handover ceremony, many had expected you hand over to your successor as is the norms? Not the handover, it was the swearing in, they are two different things. I had no role to play at the swearing in because I handed over successfully and it was everywhere in the news. Even if I had attended it, I had no role to play, I was not the chief judge, the chief judge is the one that has a role to play and I told the governor that he won his ticket on a different political party’s platform so it will be natural that people will not be friendly, so he should excused me at the swearing and he agrees with me. It was the swearing in which I had no role to play that I didn’t attended. It seems like there is no love lost between you and your successor? Let me answer that by saying that I did what has never been done in the state before, I called Governor Samuel Ortom to congratulate him when he won the election. I remember when I took over government from the People’s Democratic Party, nobody bought any official car for me but I bought official cars for Ortom, I left some of the vehicles I was using for him, took him on an official tour of the state and told him that anytime he needs me on anything, he should not hesitate to call on me. From my disposition, you will know that anytime that he needs my advice on anything; I will be there for him not minding the hostile disposition that he has for me. My interest is that Benue State should move forward, I am a well read person so I know the political consequence of political leadership when things turn the other way and I am ready to face the consequences that come with leadership. What is the paramount interest now are the Benue people. When I went to take the desire rest, they say that I have ran away, I am here to be available to answer whatever call by the probe committee and the Economic and Financial Crimes commissions, EFCC.

Politics

KemI olaItaN IBADAN

s the Justice Mohammed Mayakiled Governorship Election Petitions Tribunal in Oyo State, prepared to deliver judgement in the petition filed by Senator Rasheed Ladoja, the Accord party in the state has expressed confidence in its ability to do justice to the petition given the “overwhelming evidences” presented to it”. This was just as the party described the boast of Governor Abiola Ajimobi that his victory was already a done deal, as a mere wish-

Tuesday, October 20, 2015

AP expresses confidence in Oyo gubernatorial elections tribunal ful thinking. The party’s Director of Communication, Prince Dotun Oyelade, who said this in a press conference tagged, Misinformation Will Not Help, in Ibadan, urged the people of the state “to wait patiently for justiceCto prevail in order to have a purposeful, responsible and responsive government.” Oyelade, who was assisted by the Director General

APC tackles PDP over allege plot to attack Audu Wale IbrahIm LOKOJA

he rivalry between the All Progressive Congress, APC and the Peoples Democratic Party, PDP seems to have gone to the extreme as the Head of Media Directorate, Prince Abubakar Audu Campaign Organisation, Dr. Tom Ohikere alleged that PDP are planning to eliminate the leaders of the APC in the state ahead of November 21 gubernatorial poll. In a statement in Lokoja yesterday, Dr. Ohikere also alleged that the hoodlums apprehended at Ejule in the eastern axis of the state by the men of the Special Anti Robbery Squad, SARS were on a mission to bomb the house of the APC Gubernatorial candidate, Prince Abubakar Audu. The state commissioner of police, Mr. Emmanuel Ojukwu had paraded the eight suspects last Friday, disclosing however that the hoodlums were planning to disrupt the forthcoming governorship election in the state. But Ohikere wondered whether it was the same

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suspects that were arrested at Ejule with dangerous weapons and charms, that were actually paraded before newsmen in Lokoja, more so that the commissioner of police never gave details concerning the mission of the suspects. He therefore warned the PDP in the state to forget using any undemocratic means of remaining in power, stressing that, the electorates who are tired of being deceived for so long, have decided to vote for positive change in the coming governorship election. Ohikere, who was a onetime commissioner for information in the state, equally enjoined the law enforcement agents to be vigilant and be pro-active as the state moves towards the next dispensation, insisting that anti democratic forces are hell bent on destabilizing the state. He called on the teeming supporters of the party in the state to remain calm and be aw abiding, even as he expressed confidence that the clueless PDP- led administration would be sent packing in the forthcoming governorship poll.

of the Ladoja Campaign Organisation and former speaker of the state House of Assembly, Hon. Adeolu Adeleke, faulted the reported dismissal of Ladoja’s petition by a section of the media last week, describing such report as misleading and a disservice to the code of ethics of the journalism profession. He said, “The truth is that the Appellate Court that sat in Ibadan on Wednesday affirmed the decision of the tribunal that dismissed the application

of the petitioners which seek to submit the forensic report of the recounting of ballot papers for which they earlier got the leave of the tribunal. “But it is equally true that the tribunal also threw out the objections raised by counsel to the respondent that the motion brought before the court by the Appellant was not duly signed. For obvious reasons, this development was not publicised at all by the erring media “We as a party are alarmed at the brutal attack on our

members shortly after the ruling. Up till now, no one has been arrested. We therefore warn the All Progressives Congress, APC and its agents not to task our patience anymore and we call on the law enforcement agents to call the APC to order before they set the state on fire. “It will be recalled that, while five members of Accord were brutally murdered during a party meeting at Odinjo in Ibadan in March this year, none of the suspects has been charged. Conversely, two members

L-R: Former Lagos State Deputy Governor, Alhaji Rafiu Jafojo; wife of former Governor, Alhaja Abimbola Jakande; Governor Akinwunmi Ambode and former Governor, ALhaji Lateef Jakande, during the swearing-in ceremony of commissioners and special advisers, at the Secretariat, Alausa, Ikeja, yesterday.

CRHA receives 28 commissioner nominees rIchard Ndoma CALABAR

he Cross River House of Assembly, CRHA yesterday said it has received a list of 28 commissioner nominees sent to the Assembly by Governor of the state, Sen. Ben Ayade. Chairman House of Assembly Committee on Media/Information, Mr. Nelson Ofem, revealed this

in Calabar during an interactive session with journalists. Ofem who also represents Yakurr I state constituency in the assembly, said that the list would be unveiled on Tuesday Oct. 20, at the floor of the assembly, stressing that the assembly would ensure thorough screening of the nominees in order to assess their contents and credibility. A list of 28 commis-

sioner nominees has been sent to the assembly by the governor. We will do a thorough screening of the nominees to ensure that they have no corrupt charges against them. We will sight their original credentials and ensure that they are fit to head our ministries. Any nominee who does not have the content and intellect, we may write to the governor to withdraw such

Lanlehin condemns non-release of judgment by tribunal KemI olaItaN IBADAN

enatorial candidate of the Accord Party for Oyo South senatorial district, Senator Olufemi Lanlehin, has condemned the non-release of the judgment of the Justice Tanko Usman-led National and State House of Assembly Election Petitions Tribunal to him, six days after the

judgment was given. It will be recalled that the tribunal, after expunging all the submissions made by the Independent National Electoral Commission,INEC and the Resident Electoral Commissioner, Mr. Rufus Akeju, from its records leaving only Lanlehin and Senator Soji Akanbi in the matter, last week Wednesday, dismissed Lanlehin’s petition

of our party Kola Adeoye and Akeem Olatunji were promptly arraigned on trumped up civil charges of libel within two weeks of the allegation by the leadership of the ruling party. “While we are at this, it is proper to call the attention of our people to the insensitive deceit going on where the N26.6 billion released as bailout fund has met the expectation of workers only half way whereas information is rampant about illicit lodgment in certain banks.

for impreciseness among other things. But Lanlehin, in a statement made available to journalists in Ibadan yesterday, by his Media Assistant, Mr. Taiwo Ashiru, described as worrisome and disturbing, the seeming refusal of the tribunal panel to give him a copy of the judgment delivered on the 180th day of the petition, stating that the delay

was already eating into the 60 days he has to appeal the verdict. He said, “A time limit of 60 days is prescribed by law for the hearing and delivery of judgment in the appeal, which he intends to file at the Court of Appeal. “The fact that it is taking such a long time for the very first step in the said appeal process, which is obtaining the judgment of

the tribunal, is very worrisome and disturbing. “The Chairman of the Tribunal, Justice Tanko Usman assured the petitioner that the said judgment would be ready two days after the said judgment, that is, Friday 16th October 2015. “It is now (after many postponements) six days after the judgment and we are again being told that the judgment would not

a person and send in another candidate’’, he said. The legislature gave assurance that the commissioner nominees would be screened and confirmed before the end of October this year. We have the 2016 budget ahead of us; we need to urgently screen and confirm these nominees, so that the governor can assign them to different ministries’’, Ofem added.

be ready until Wednesday 21st October 2015. That will make it eight days after the said judgement. There is also no certainty to the said new date given.” He then, appealed to the tribunal to make available to him in the interest of justice, equity and good conscience, a copy of the judgement so that he could pursue his time-bound appeal.

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Politics

Tuesday, October 20, 2015

Lasun donates relief materials to IDPs Wale Oladimeji

eputy Speaker of the House of Representatives, Rt Hon Yussuff Sulaimon Lasun paid an unscheduled visit to the camp of the Internally Displaced Persons, IDPs in the Federal Capital Territory as part of the activities lined up to mark his 55th birthday anniversary. The birthday itself is unique because it coincided with the Nigerian independence anniversary celebration. Given his philosophy that birthdays should not be about pomp and pageantry, but a time to feel the pulse of the less privilege, Lasun chose the occasion of his birthday to pay an unscheduled visit to the Internally Displaced persons. The Deputy Speaker was abreast of the incalculable damage the misguided Boko Haram terrorists marauders have wrecked on the innocent and law abiding citizens of the North East in particular and Nigerians in general. To show sense of empathy and responsibility, he decided that these downtrodden people should be visited. The visit of the Deputy Speaker to the IDP camp was very revealing because it afforded Lasun the first hand knowledge of the level of untold hardship that has been the lots of these Nigerians. The visit gave him an opportunity to know that all was not well with those persons displaced from their original habitat due to the dastardly and callous acts of the devilish Boko Haram insurgents. The Deputy speaker took time to have a heart to heart discussion with the people and tried to find out about their living condition and what they as citizens would want the government to do for them. He asked them what they needed in the short run, to make them feel that they are part of the country and that federal government is not neglecting them. The situation at the camp arrested the attention of a deeply sober Deputy Speaker who after all said and done promised to make a repeat visit to the camp with a view to addressing some of the fundamental problems confronting the people and also improve their standard of living. Statistics made available by the Internal Displacement Monitoring Centre put the current figure of the people at the IDP at 1,538,982 which comprised of people temporarily living in camps and shelters provided spread across Borno, Gombe, Nasarawa, Adamawa and FCT among others. The internally displaced persons who are mostly women and children still find it difficult to live normal lives despite efforts of government in times past and major problems confronting them include lack of sufficient educational facilities to learn, lack of source of livelihood to sustain them and need for adequate health facilities. Although Government in April established 10 temporary primary schools at IDP camps in Borno and UNICEF has so far provided educational support for not less

Lasun

I want to IdentIfy wIth Internally dIsplaced people and that Is why

I have decIded to vIsIt

thIs place and at least spend some tIme wIth you and extend a hand of fellowshIp than 29,397 children, many other Non Governmental Agencies and Individuals have also extended support to the IDP but much still needs to be done to help the children catch up with their education. The present administration under the leadership of President Mohammadu Buhari is however not relenting in making sure that the Boko Haram menace is brought to an end with many of the displaced people resettled at their various communities and states. This is also why the visit of the Deputy Speaker is very timely. It afforded the IDPs the opportunity to hear from the horse’s mouth on what government is doing

about their plight. Lasun therefore, reiterated Government’s determination to bring to an end any form of terrorism in Nigeria. In his official and personal capacity, the Deputy Speaker donated relief materials to them as parts of activities marking his 55th Birthday. He promised that Government will leave no stone unturned to bring the ugly situation the IDPs found themselves in to an end. He was particularly concerned about the education of the young Nigerians in these camps, saying it will have adverse consequences on the country if they (children) loses two to four years without education. He promised-”I would want to make another visit here to see what are those things we can do to make your stay here comfortable, but the most important thing is to have peace up there so that you people can go back home particularly because it’s not good to be displaced and it’s not good to be affected by war. We only pray to Allah that He in his infinite mercies would protect all of us and will touch the hearts of those people who are perpetrating this ungodly act.” As a Legislator, he affirmed his readiness to work with the House of Representatives in advising the Executive arm of Government on the way forward especially the education of the displaced Children. ‘I am here today to give them hope that Federal Government is trying very hard to bring Boko Haram terrorism to an end and to make sure that as Nigerians we know that they are here and we know that we are going to continually strive to see how we can solve their problems.”, he stated. “I want to identify with internally displaced people and that is why I have decided to visit this place and at least spend some time with you and extend a hand of fellowship as well as give a token out of what of God has given me”, Lasun said. According to him, “we would still come back here as legislators to see what we can do in terms of advising the executive arm of government on the way to move forward particularly on the issue of IDP and particularly on the issue of their children education. “Education is important because if people have to stay a long time without going to school it means a lot to the future of Nigeria”, he added Continuing, he said, “these children are our future and even the fathers and the mothers that are here too, they are no longer working and they are no longer being able to provide for the families. “I know government is at it and they are working at it very relentlessly and I know sooner than later all these problems will come to an end. I will only enjoin you to continuously talk to people so that they would have peace of mind to show them that we are not leaving them behind and that we are not going to neglect them”, Lasun said. Oladimeji is the Chief Press Secretary to the Deputy Speaker of the House of Representatives

How PDP, APC chieftains plan to make Bauchi one party state CONTINUED FROM PAGE 13 speaker, federal House of Representatives, Hon Yakubu Dogara who is highly influential and widely accepted not only in the state but across the nation following his good leadership style as a detribalize politicians who knows his people’s needs from the grassroots and have been elected the third time. Dogara who many describe as a God sent had even though met stiffer opposition from his colleagues in Bauchi state with the allege connivance of top Bauchi politicians but finally won the speakership. National Mirror gathered that already Governor Abubakar is said to have indicated an interest to help his predecessor to soft land and escape Buhari’s anticorruption war in exchange for his non interference in his administration.

It would be recalled that Abubakar had severally denied that there was any political arrangement between him and former governor Yuguda to dumps the PDP for APC apparently to be the next governor, but the recent political permutations appear to make people believe the rumours that the two had something in common to protect their political interest . Others confided that Abubakar’s delay in appointing commissioners may not be unconnected to his desperation to include his predecessor’s supporters so as to be carried along without any interference. Such political arrangements it is believe will further cement their relationship and this could possibly explain why his transition committee on recovery of assets ended without much success as no single culprits has so far been fished out.

Bala

Politics

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

Buhari’s govt clueless –Adebanjo Kemi Olaitan IBADAN

fenifere chieftain and Awoist, Chief Ayo Adebanjo, yesterday in Ibadan, came hard on the administration of President Muhammadu Buhari, describing it as clueless and one with no identifiable blueprint or a compass with which to navigate the ship of state to improve the lot of the citizenry. He spoke in Ibadan on the sideline of the launch of a two-volume autobiography written by a former minister, Professor Tunde Adeniran, as part of activities marking his 70 birthday.

Dignitaries at the event include a former Senate president, Senator Ken Nnamani, who chaired the event; Professor Alkali Ahmed; Chief Segun Oni; Senator Femi Okurounmu; Mr Tunde Ayeni; Jimi Agbaje; Major General David Jemibewon (retd); Brigadier General Oladayo Popoola; Professor Eghosa Osaghae; Brigadier General Raji Rasaki; Dr Umar Mustapha; Dr Yemi Farounbi; and many others. According to Adebanjo, “it was baffling that Buhari, who traversed the length and breadth of the country for 12 years campaigning to Nigerians on what he would do differently if voted for,

could not do any tangible programme after almost five months in office. He said although he did not want Buhari’s government to fail and supported his anti-corruption crusade, success would not come without an economic blueprint that would reverse the increasingly poor socio-economic conditions of Nigerians. He said, “Even now that the ministers have been appointed, where is the blueprint that they are going to work with? They are just talking about change, change and anti-corruption. “After wiping out corruption, will there be food on the table of Nigerians? “They are clueless; they

have no programme. The only thing they were determined to do was to chase Jonathan away. I have said it and will continue to say it. I don’t want Buhari to fail. I only want him to prove people like me who spoke against his ambition wrong. “He should prove that he is not a dictator and a tribalist. How could he appoint 31 people and only seven came from the South? He is not ruling Daura or the North. He is ruling Nigeria and must carry everybody along. “As a person, Buhari has integrity. But the integrity must be used in a way that will carry every Nigerian along without discrimination. Who is strange among

the nominated ministers? However good some of them are and there are really good people among them, but should it have taken us four months to do? “Are they not the people Buhari had been campaigning with? And when they had been campaigning for almost 16 years to be in power, has he got an idea of what he is going to do? He ought to have an idea and a policy”. He traced the seeming lack of direction in the government to that manner the leaders of the various parties that coalesced into the All Progressives Congress, APC came together. “Individually, they all have various vested interests. That is why the first thing we saw in the National Assembly was crisis. You don’t share the booty after winning the war. They should have agreed on how to share the booty when they were fighting the war. “It is unfortunate for this country. People like Tunde Adeniran are in APC, PDP and other parties. But where they are, they have been overwhelmed by bread-and-butter politicians who really don’t know what service is all about. This was not the attitude of politicians at pre-

independence era. “When we see people like Adeniran, to me, they are anxious to be in power and that was why they joined them. I have told people like him that where he is, he has not got people of his ilk because when they got there they were frustrated. It is not what he wants that is happening in the PDP. “People like me are too conservative and that was why we were in the opposition in Awo’s party throughout because we were always asking what they were going to do for the people each time they asked us to join them,” he stated. The celebrant, Adeniran urged Nigerians to unite in tackling issues of personal, national security, economic downturn and the contagious corruption that has long defined the polity. “I hope that people now know that there should be limit to impunity, that playing god and making mini-gods of surrogates and charlatans is a policy with adverse consequences and that savage dismissal of alternative opinions and opposing views in governance and the administration of political parties is antithetical to democratic consolidation,” he said.

AD to hold congress, convention Nov ebeRe nduKwu Senate President Bukola Saraki (left) and Awujale of Ijebuland, Oba Sikiru Adetona, during the Senate delegation’s condolence visit to the traditional ruler over the death of Mrs. H.I.D. Awolowo, in Ijebu Ode, Ogun State, recently.

Osun Assembly passes Public Procurement Bill RObeRt awOKuse

he State of Osun House of Assembly has passed the bill establishing the State Public Procurement Agency. The bill, tagged, Osun Public Procurement Bill 2015 was passed at the plenary on Monday, sequel to the presentation of its clean copies to the house. Deputy Leader, Honourable Dejo Osuolale moved a motion that the bill be read for the third term and this was seconded by the member representing Ifedayo constituency, Honourable Azeez Olanrewaju. The Speaker, Honourable Najeem Salaam commended members for the efforts put into the consideration of the bill, saying, it would

...13 Bills pass First Reading guarantee transparency in the award of contract. According to him, the contract would ensure quality service delivery for the government and the people of the state. He directed that the bill be forwarded to the governor for his assent as soon as possible, just as he charged the executive arm of government for its effective implementation. Besides, 13 bills passed through the first reading at the plenary. They are Rules of Criminal Conduct and Regulation of Public Order bill, Criminnal Justice Administration in High and Magistrate Courts Bill, Amendment of Cooperative Societies Law,

Volume 1, Cap 31 Bill, and Street Trading and Illegal Market Prohibition Bill. Others are Urban and Regional Planning Development Bill, Public Private Partnership Bill, Waste Management Authority Bill, Regulation of Sand Drilling and Dredging Operation Bill and Agricultural Land Holding Bill. Education District Offices and Teachers Establishment Pension Offices, Osun State University Development Fund Establishment Amendment Bill, Primary Healthcare Development Board Establishment Bill and Partnership Bill also passed through the first reading. The Speaker said some

of the bills were pending before the former Assembly, but the consideration of the bills would be commenced afresh in line with the standing order of the house. Also, the Speaker set up a five-man committee to oversee the appointment of members of Standing Committees of the House. He chairs the committee and has his Deputy, Akintunde Adegboye; Leader of the House, Timothy Owoeye; Deputy Leader, Dejo Osuolale and Minority Leader, Oladejo Makinde as members of the committee. Salaam said the delay in the appointment of standing committees was aimed at assessing members and ensure that they are put into the appropriate committee.

lliance for Democracy, AD has fixed its state congresses for November 10, 2015 and its Unity National convention in Abuja from November 24 to 26 respectively. This was part of the resolutions of the party’s reconciliatory National Executive Committee, NEC, meeting held in Abuja and which was presided over by its National Chairman, Senator Mojisoluwa Akinfenwa. In a press statement signed by its National Chairman, Senator Akinfenwa, he commended party leaders and members for their loyalty, steadfastness and support for the party since 1998 when it was registered as a political party and promised to hand over to a new national executive that would be elected at the convention following the

expiration of his tenure. According to him, NEC set aside the composition of the party’s Board of Trustees for the incoming national executive. “NEC directed the six geo-political zones to nominate a representative that would serve in the party’s National Convention Planning Committee while Senator Akinfenwa would nominate the seventh person. “INEC officials who monitored the meeting according to the statement were Haladu Siadu, Asuquo Uye and Mrs. Bola Adewon. The meeting was at the instance of the electoral umpire which directed the leadership of AD to hold a reconciliatory NEC meeting and national convention with a view to resolving its leadership crisis. “Party leaders including its National Secretary, Rafiu Salau were present,” he said.

National Mirror www.nationalmirroronline.net

Capital Market

Tuesday, October 20, 2015

SEC vows to expand Islamic banking Johnson okanlawon

he Securities and Exchange Commission yesterday expressed its determination to deepen the non-interest capital market space so as to enable millions of Nigerians and people of faith to invest their savings ethically. Speaking on the theme,” Financing Development through Islamic Capital Market - A Viable Alternative, “ the Director General of SEC, Mounir Gwarzo in Kano noted that investors worldwide are increasingly allocating their resources into Islamic a finance products adding that by the end of 2014, total assets under management in the global Islamic finance industry surpassed $2 trillion. Gwarzo said while most people identify capital markets as an important source of medium-to-long term capital flow, there is also an amazing potential of capital markets to serve as a catalyst for fi-

nancial inclusion adding that going forward, the SEC will focus on massive public enlightenment and also stronger capacity building initiatives. He said,” Our focus for this roundtable is on Sukuk, one of the most important components of the Islamic financial system. The global sukuk market continues to witness remarkable growth since after the 2008 global financial crisis as annual issuances have grown from $15 billion in 2008 to almost $120 billion in 2014. “In fact, last year is widely considered a landmark year for Islamic finance, especially with landmark debut sukuk issuances by countries such as the UK, Hong Kong, Senegal, South Africa, and Luxemburg. Of course the year witnessed continued strong interest from key markets of Malaysia, Saudi Arabia and the United Arab Emirates (UAE) and emerging markets like Turkey and Indonesia. There is no doubt that the sukuk market is emerging on a

global scale as a viable alternative source of funding”. While describing Malaysia, Saudi Arabia, UAE, Kuwait and Qatar as the top five largest Islamic finance markets in the world, in that order as they account for the highest sukuk issuances and contribute more than half of the total assets under management in the industry, Gwarzo said that with Nigeria’s population which is far more than all five countries put together, the country should be a major market for global Islamic finance market. “With over 80 million Muslims, Nigeria is home to far more Muslims than all the 5 countries put together. Additionally, Nigeria has a larger economy than them, with the exception of Saudi Arabia. There is therefore no reason why Nigeria should not be a major global Islamic finance market” he said. The governor of Kano state, Dr Abdullahi Umar Ganduje commended the ef-

forts of the commission in the area of promoting depth in non-interest capital market, assuring that Kano state would be glad to be associated with the current development by the SEC, stressing that, Kano would like to be seen as a base of Islamic banking and finance for financial market development. The Emir of Kano, Muhammad Sanusi II, revealed that when he was the Governor of Central Bank of Nigeria, they were able to put some solid structures in place for non-interest banking system in the banking industry. Sanusi disclosed that they did their best to ensure effective safety of the institutions in place, all with the intent of having sound footing for the emerging economies. He therefore called on the policy makers to realise and appreciate the role of non-interest capital market in bridging the gaps in the nation’s financial institutions.

Equities rise 1.29% as leads the gainers Johnson okanlawon

rading in equities continued on a positive note on the Nigerian Stock Exchange yesterday, as more investors took position on stocks. Specifically, the All Share Index appreciated by 1.29 per cent to close at 30,219.01 points, compared to the increase of 0.45 per cent recorded on Friday to close at 29,834.21 points. Market capitalisation

gained N132 billion to close at N10.39 trillion, compared to the rise of N46 billion recorded on Friday to close at N10.25 trillion. Dangote Cement Plc led the gainers’ table with N7.94 or 4.93 per cent to close at N168.95 per share, followed by Berger Paints Plc with 51 kobo or 4.92 per cent to close at N10.87 per share. Honeywell Flour Mills Plc gained 12 kobo or 4.71 per cent to close at N2.67 per share, while Cutix Plc added

seven kobo or 4.40 per cent to close at N2.67 per share. Mobil Oil Plc appreciated N6.00 or 4.05 per cent to close at N154.00 per share, while Champion Breweries Plc rose 15 kobo or 3.37 per cent to close at N4.60 per share. Conversely, Transnational Express Plc lost eight kobo or 7.08 per cent to close at N1.05 per share, while NASCON Plc fell 53 kobo or 6.86 per cent to close at N7.20 per share. RT Briscoe Plc depreci-

ated three kobo or five per cent to close at 57 koboper share, while Wema Bank Plc dipped five kobo or five per cent to close at 95 kobo per share. Evans Medicals Plc shed three kobo or 4.92 per cent to close at 58 kobo per share, while Skye Bank Plc declined 11 kobo or 4.87 per cent to close at N2.15 per share. A total of 104.5 million shares valued at N1.93 billion were exchanged in 2,929 deals.

Morgan Stanley results wipe gains off European stocks

uropean stock markets struggled and trading in stocks opened lower yesterday after the United States bank Morgan Stanley reported a slump in quarterly profit, adding to signs of woe among the world’s biggest banks. The record third-quarter loss reported by Germany’s Deutsche Bank earlier this month has refocused investors’ minds on the big global banks after a decade of financial strife, regulation and technology-driven change. US banks have gained market share in that time but of the major players to have reported in the third quarter, only Wells Fargo & Company, the biggest

mortgage lender, managed a rise in revenue and income from interests on loans. Morgan Stanley’s profit plunged 42 per cent, capping a generally downbeat quarter for big US banks after investors fled the bond, currency and commodity markets. “The Morgan Stanley numbers did not help, and the market is just a little disappointed that there were no immediate stimulus measures coming out of China,” said Berkeley Futures’ associate director Richard Griffiths. European and Asian stocks had climbed earlier after slightly better than expected Chinese growth numbers allayed months

of worry over the slowdown in the world’s second-largest economy. While monthly industrial output numbers were poor and the third quarter growth figure was the weakest since the 2008 financial crisis, the 6.9 percent reading just beat a forecast for 6.8 percent and suggested official efforts to stimulate the economy were working. “The market has been beset with worries and actually things are not so bad,” said Andy Sullivan, a portfolio manager with Swiss investment firm GL Financial Group. “Although the start of the Q3 results has been messy, there are enough positive signs on earnings growth

to keep markets positive. The world is not ending; things are more or less on track.” Rate (%) Inflation

8.2

MPR

Crude oil price

$58.96

Exchange

Rates (N)

WAUA

270

USD

196.95

EURO

214

CFA

0.32

YEN

1.64

SWISS FRANC

202

POUNDS STERLING

293

SDR

273

Source: NSE

Inter-Bank Rate Naira

US Dollar

N196.95 Market indicators All-Share Index 30,219.01 points Market capitalisation 10.40trn

Stock Updates GAINERS COMPANY

OPENING

CLOSING

CHANGE

% CHANGE

DANGCEM

161.01

168.95

7.94

4.93

BERGER

10.36

10.87

0.51

4.92

HONYFLOUR

2.55

2.67

0.12

4.71

CUTIX

1.71

1.66

0.07

4.40

MOBIL

148.00

154.00

6.00

4.05

CHAMPION

4.45

4.60

0.15

3.37

ACCESS

4.72

4.86

0.14

2.97

UACN

28.05

28.85

0.80

2.85

UNITYBNK

1.50

1.54

0.04

2.67

AFRIPRUD

2.60

2.65

0.05

1.92

CHANGE

% CHANGE

LOSERS COMPANY

OPENING

CLOSING

TRANSEXPR

1.13

1.05

-0.08

-7.08

NASCON

7.73

7.20

-0.53

-6.86

RTBRISCOE

0.60

0.57

-0.03

-5.00

WEMABANK

1.00

0.95

-0.05

-5.00

EVANSMED

0.61

0.58

-0.03

-4.92

SKYEBANK

2.26

2.15

-0.11

-4.87

CCNN

7.68

7.31

-0.37

-4.82

ACADEMY

0.65

0.62

-0.03

-4.62

FBNH

6.00

5.75

-0.25

-4.17

VONO

0.96

0.92

-0.04

-4.17

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, October 20, 2015

Stock exchange daily equities summary Daily Summary as of 19/10/2015

Equities as at October 19, 2015

Printed 19/10/2015 14:32:20.020

Daily Summary as of 19/10/2015 Printed 19/10/2015 14:32:20.020

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)

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 13 8 21

Current Price 35.63 30.50

Quantity Traded 81,046 16,250 97,296

Value Traded 2,743,407.10 508,760.00 3,252,167.10

Symbol LIVESTOCK

No. of Deals 5 5

Current Price 1.65

Quantity Traded 25,700 25,700

Value Traded 42,892.00 42,892.00

122,996

3,295,059.10

Daily Summary as of 19/10/2015 Printed AGRICULTURE 19/10/2015 14:32:20.020 Totals

CONGLOMERATES Diversified Industries S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC UA C N PLC.on Board EQTY Activity Summary Diversified Industries Totals CONSTRUCTION/REAL ESTATE CONGLOMERATES Totals Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Processing Systems CHAMS PLC Processing Systems Totals

Quantity Traded 79,584 6,657,624 640,610 7,377,818

Value Traded 315,152.64 14,225,315.72 18,432,931.34 32,973,399.70

Symbol COSTAIN

153 No. of Deals 3 3

Current Price 0.56

7,377,818 Quantity Traded 44,090 44,090

32,973,399.70 Value Traded 25,128.60 25,128.60

Symbol JBERGER

No. of Deals 8 8

Current Price 39.99

Quantity Traded Page 53,271 53,271

12 1Value Traded of 2,069,417.05 2,069,417.05

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

Symbol UAC-PROP

No. of Deals 12 12

Current Price 8.17

Quantity Traded 47,203 47,203

Value Traded 372,246.20 372,246.20

Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC UPDC REAL ESTATE INVESTMENT TRUST Real Estate Investment Trusts (REITs) Totals

Symbol SKYESHELT UPDCREIT

No. of Deals 1 1 2

Current Price 100.00 10.00

Quantity Traded 5 19,600 19,605

Value Traded 500.00 196,000.00 196,500.00

164,169

2,663,291.85

CONSTRUCTION/REAL Printed 19/10/2015 14:32:20.020 ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals

Activity Summary on Board EQTY Beverages--Brewers/Distillers CHAMPION BREW. PLC. CONSUMER GOODS GUINNESS NIG PLC Beverages--Brewers/Distillers INTERNATIONAL Published by The Nigerian StockBREWERIES Exchange © PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. Daily Summary as of 19/10/2015 HONEYWELL FLOUR MILL PLC Printed 19/10/2015 14:32:20.020 NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. UNION DICON SALT PLC. Food Products Totals Food Products--Diversified

Activity Summary on Board CADBURY NIGERIA PLC.EQTY NESTLE NIGERIA PLC. CONSUMER GOODS Food Products--Diversified Totals Household Durables NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC. VONO PRODUCTS PLC. Published by The Nigerian Stock Exchange © Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. BANK PLC ActivitySKYE Summary on Board EQTY STERLING BANK PLC. FINANCIAL SERVICES UNITED BANK FOR AFRICA PLC Banking UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Totals Stock Exchange © Published Banking by The Nigerian

Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. LINKAGE ASSURANCE PLC AXAMANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. Daily Summary as ofINSURANCE 19/10/2015 CO. PLC. NIGER Printed 19/10/2015 14:32:20.020 PRESTIGE ASSURANCE CO. PLC. WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Totals Activity SummaryBanks on Board EQTY MortgageSERVICES Carriers, Brokers and Services FINANCIAL ASO SAVINGS AND LOANS PLC Mortgage Carriers, Brokers and Services Mortgage Carriers, Brokers and Services Totals Published by The Nigerian Stock Exchange © Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Published by The Nigerian Stock Exchange ©

Quotation(N) No. of Deals 4 6 55

Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DNSummary MEYER PLC. Activity on Board EQTY FIRST ALUMINIUM NIGERIA PLC INDUSTRIAL GOODS PORTLAND PAINTS & PRODUCTS NIGERIA PLC Building Materials Published by The Nigerian Stock Exchange © LAFARGE AFRICA PLC.

Quantity Traded 111,000 111,000

Value Traded 55,500.00 55,500.00

Symbol CHAMPION GUINNESS Symbol INTBREW NB PREMBREW

No. of Deals 23 30 No. of Deals 12 92 1 158

Current Price 4.60 146.15 Current Price 17.00 135.06 2.95

Quantity Traded 1,104,400 46,664 Quantity Traded 333,700 Page 355,049 100 1,839,913

Value Traded 4,993,798.24 6,841,058.21 Value Traded 12 2 5,662,457.50 of 47,954,858.66 281.00 65,452,453.61

Symbol 7UP

No. of Deals 18 18

Current Price 197.00

Quantity Traded 11,306 11,306

Value Traded 2,227,935.40 2,227,935.40

No. of Deals 10 19 64 22 27 8 2 152 (Equities)

Current Price 2.60 6.57 20.90 2.67 7.20 9.46 11.84

Quantity Traded 25,675 52,658 1,197,302 436,473 880,126 36,752 5,550 2,634,536

Value Traded 68,069.82 338,855.60 25,110,607.78 1,160,872.91 6,495,338.15 330,433.59 62,437.50 33,566,615.35

No. of Deals 19 29 48 No. of Deals 6 28 1 35

Current Price 22.00 830.00

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM UNIONDICON

Daily Summary Symbol CADBURY NESTLE Symbol ENAMELWA VITAFOAM VONO

Symbol PZ UNILEVER

No. of Deals 19 30 49

Current Price 29.78 5.39 0.92

Current Price 24.00 47.00

462

Symbol No. of Deals Current Price ACCESS 169 4.86 DIAMONDBNK 37 2.82 ETI 42 18.30 Daily Summary (Equities) FIDELITYBK 31 1.46 GUARANTY 182 23.71 SKYEBANK 32 2.15 STERLNBANK 44 2.13 UBA 161 4.30 Symbol No. of Deals Current Price UBN 35 5.63 UNITYBNK 22 1.54 WEMABANK 41 0.95 796

Symbol AIICO CONTINSURE CORNERST EQUITYASUR LINKASSURE MANSARD MBENEFIT NEM NIGERINS PRESTIGE WAPIC

Quantity Traded 112,637 174,752 287,389

Value Traded 2,738,148.80 7,879,989.02 10,618,137.82

7,226,317

637,418,647.25

Quantity Traded 5,011,130 2,137,349 227,095 1,799,458 5,880,040 2,140,501 4,233,926 6,099,090 Quantity Traded 591,908 3,206,000 5,727,949 Page 37,054,446

Quantity Traded 827,058 244,500 500 100 34,000 39,000 100,500 543,200 85,000 1,458 1,000 1,876,316

Value Traded 716,269.88 243,640.00 250.00 50.00 17,000.00 100,090.00 50,250.00 374,608.00 42,500.00 729.00 500.00 1,545,886.88

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

Quantity Traded 571,000 571,000

Value Traded 584,510.00 584,510.00 Value Traded 50.00 Value Traded

7 7

1.02

Symbol ASOSAVINGS Symbol

No. of Deals 1 No. of Deals

Current Price 0.50 Current Price

Quantity Traded 100 Quantity Traded

Symbol AFRIPRUD CUSTODYINS FCMB ROYALEX STANBIC UBCAP

No. of Deals 27 7 139 7 25 43 248

Current Price 2.65 4.20 2.19 0.50 23.00 1.40

Quantity Traded 293,104 322,069 2,062,226 428,093 566,883 881,914 4,554,289

Value Traded 769,248.03 1,354,501.80 4,512,279.27 214,046.50 13,067,232.98 1,232,876.50 21,150,185.08

44,056,151

253,470,033.76

100 Page

1,095

Symbol EKOCORP UNIONDAC

No. of Deals 1 3 4

Current Price 3.72 0.50

Quantity Traded 100 10,700 10,800

Value Traded 354.00 5,350.00 5,704.00

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

No. of Deals 20 2 7 13 3

Current Price 0.58 3.10 36.96 1.17 1.03

Quantity Traded 1,387,762 1,100 18,391 79,568 5,254

Value Traded 872,826.08 3,555.00 680,987.59 92,179.02 5,378.92

Page

Current Price 0.50

Quantity Traded 16,500 16,500

Value Traded 8,250.00 8,250.00

Symbol CHAMS

No. of Deals 3 3

Current Price 0.50

Quantity Traded 1,700 1,700

Value Traded 850.00 850.00

18,200

9,100.00

Symbol ASHAKACEM BERGER Daily Summary CAP CCNN DNMEYER FIRSTALUM PORTPAINT Symbol WAPCO

No. of Deals 11 13 (Equities) 11 14 1 1 1 No. of Deals 37 89

Current Price 23.00 10.87 38.00 7.31 0.73 0.50 3.53 Current Price 99.50

Quantity Traded 25,666 204,268 59,274 101,437 1,200 100 3,000 Quantity Traded Page 5,146,109 5,541,054

Value Traded 590,198.00 2,137,279.80 2,280,574.80 747,630.95 840.00 50.00 10,080.00 Value Traded 7 of 12 512,044,233.35 517,810,886.90

No. of Deals 1 1

Current Price 1.66

Quantity Traded 50,000 50,000

Value Traded 83,000.00 83,000.00

Packaging/Containers GREIF NIGERIA PLC Packaging/Containers Totals

Symbol VANLEER

No. of Deals 1 1

Current Price 9.37

Quantity Traded 500 500

Value Traded 4,915.00 4,915.00

5,591,554

517,898,801.90

Quantity Traded 500 500

Value Traded 250.00 250.00

500

250.00

NATURAL Daily Summary asRESOURCES of 19/10/2015 Mining Services Printed 19/10/2015 14:32:20.020 MULTIVERSE PLC Mining Services Totals NATURAL RESOURCES Totals OIL AND GAS Activity Summary onGas Board EQTY Integrated Oil and Services OANDO PLC OIL AND GAS Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. Published by The Nigerian Stock Exchange © MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

SERVICES Apparel Retailers Daily Summary as of 19/10/2015 LENNARDS (NIG) PLC. Printed 19/10/2015 Apparel 14:32:20.020 Retailers Totals Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Daily Summary as of 19/10/2015 Printed 19/10/2015 14:32:20.020 Courier/Freight/Delivery Activity Summary on Board EQTY RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. SERVICES Courier/Freight/Delivery Courier/Freight/Delivery Totals© Published by The Nigerian Stock Exchange Employment Solutions C & I LEASING PLC. SERVICES Employment Solutions Totals Courier/Freight/Delivery

Symbol MULTIVERSE

No. of Deals 1 1

Daily Summary (Equities) Symbol OANDO Symbol CONOIL ETERNA FO MOBIL TOTAL

Symbol SEPLAT

No. of Deals 227 227 No. of Deals 1 1 64 21 9 96

Current Price 9.28

No. of Deals 2 2

Current Price 235.00

Transport-Related Services SERVICES Totals SERVICES NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Transport-Related Services Totals Published by The Nigerian Stock Exchange © EQTY Board Totals SERVICES Totals

Activity Summary on Board PREMIUM ZENITH INTERNATIONAL BANK PLC

Banking Totals FINANCIAL SERVICES Other Financial Institutions Banking Daily Summary as of 19/10/2015 FBN HOLDINGS PLC ZENITH INTERNATIONAL BANK PLC Printed 19/10/2015 14:32:20.020 Other Financial Institutions Totals Banking Totals Activity Summary on Board PREMIUM FINANCIAL SERVICES Totals Other Financial Institutions INDUSTRIAL GOODS FBN HOLDINGS INDUSTRIAL GOODS PLC Totals INDUSTRIAL GOODS Other Financial Institutions Totals Building Materials Activity Summary on Board PREMIUM Board Totals DANGOTE CEMENT PLCPREMIUM FINANCIAL SERVICES Totals Building Materials Totals INDUSTRIAL INDUSTRIAL GOODS Equity ActivityGOODS Totals INDUSTRIAL GOODS Totals Building Materials Published by The NigerianCEMENT Stock Exchange © DANGOTE PLC BuildingBoard Materials Totals PREMIUM Totals

LOTUS HALAL EQUITY ETF VETIVA GRIFFIN ETP Activity Totals 30 ETF Exchange Traded Fund Totals

5,928,524

99,064,234.65

Symbol RTBRISCOE

No. of Deals 6 6

Current Price 0.57

Quantity Traded 388,171 388,171

Value Traded 221,257.47 221,257.47

No. of Deals 14 4

Current Price 4.25 1.05

Quantity Traded 72,486 55,500

Value Traded 296,862.48 58,437.00

Quantity Traded Page 127,986

Value Traded 9 355,299.48 of 12

Quantity Traded 206,344 Quantity206,344 Traded

Value Traded 103,172.00 103,172.00 Value Traded

127,986 Quantity Traded 37,234 Quantity Traded 37,234 206,344

355,299.48 Value Traded 123,257.54 Value Traded 123,257.54 103,172.00

206,344 Quantity Traded 2,000 Quantity Traded 2,000 37,234

103,172.00 Value Traded Value1,000.00 Traded 1,000.00 123,257.54

5.73

37,234 Quantity Traded Quantity292,038 Traded 425,000 2,000 4,906 2,000 721,944 Quantity Traded Quantity 292,038 Traded 14,000 425,000 14,000 4,906

123,257.54 Value Traded 181,234.56 Value Traded 361,165.00 1,000.00 26,737.70 1,000.00 569,137.26 Value Traded Value Traded 181,234.56 7,420.00 361,165.00 7,420.00 26,737.70

Current Price 4.50 Current Price

721,944 Quantity Traded 59,740 Quantity Traded

569,137.26 Value Traded 257,276.15 Value Traded

Daily Summary (Equities) Symbol REDSTAREX TRANSEXPR

Daily Summary (Equities) Symbol No. of Deals Current Price 18 Symbol CILEASING Symbol

CILEASING

IKEJAHOTEL

No. of Deals 7 7 No. of Deals

Current Price Current Price 3.44 Current Price

7 No. of Deals 1 No. of Deals 17

Current Price 0.50 Current Price

7 No. of Deals 4 No. of Deals 61 21 12 Symbol No. of Deals Symbol No. of Deals4 ACADEMY ABCTRANS 16 LEARNAFRCA Daily Summary (Equities) 12 UPL 12 Symbol No. of Deals NAHCO 12 Symbol No. of Deals Daily Summary (Equities) ABCTRANS 1 Symbol No. of Deals 1 12 Symbol NAHCO Symbol

Current Price 0.50

18 No. of Deals 7 No. of Deals 77

Symbol ACADEMY Symbol LEARNAFRCA DAARCOMM UPL

No. of Deals 65 12 No. of Deals 12

0.50

3.44 Current Price 0.62 Current Price 0.85 0.50 5.73 Current Price Current Price 0.62 0.55 0.85

0.55 Current Price

14,000 Page Quantity Traded 14,000 59,740

7,420.00 12 10 of Value Traded 7,420.00 257,276.15

Current Price 4.50 Current Price

Quantity Traded 1,557,424 59,740 Quantity Traded 59,740 Page 73,558,773

Value Traded 1,637,834.90 257,276.15 Value Traded 12 10 257,276.15 of

2,308

Daily Summary (Equities)

1,550,143,393.87

1,557,424

1,637,834.90

2,308

73,558,773

1,550,143,393.87

Current Price 17.61

Quantity Traded 16,680,458 16,680,458

Value Traded 293,741,933.73 293,741,933.73

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

Quantity Traded 14,168,165 16,680,458 14,168,165 16,680,458

Value Traded 82,439,981.85 293,741,933.73 82,439,981.85 293,741,933.73

30,848,623 Quantity Traded 14,168,165 50,497 14,168,165 Quantity Traded 30,899,120 50,497 30,848,623 50,497

376,181,915.58 Value Traded 82,439,981.85 8,375,299.06 82,439,981.85 Value Traded 384,557,214.64 8,375,299.06 376,181,915.58 8,375,299.06

Daily Summary (Equities) Symbol ZENITHBANK

No. of Deals 229 229

FBNH ZENITHBANK

Symbol

367 229 367 229

5.75 17.61

596 No. of Deals 367 25 367 No. of Deals 621 25 596 25

Current Price 5.75

FBNH Daily Summary (Equities) Symbol DANGCEM

Symbol DANGCEM

Daily Summary

2,929

25 No. of Deals 25 (ETP) 25 621

Current Price 168.95

2,929

No. of Deals 1 1 2

Current Price 9.64 13.71

Symbol LOTUSHAL15 VETGRIF30

No. of Deals2 1 12 2

Current Price 9.64 13.71

Daily Summary (ETP)

104,457,893

50,497 Quantity Traded Page 50,497 50,497 30,899,120

Symbol LOTUSHAL15 VETGRIF30

Exchange Traded Fund

ETFName Board Totals

Value Traded 92,235.00 92,235.00

Value Traded 15.00 15.00

Exchange Traded Fund

Equity Activity Totals

Quantity Traded 375 375

Quantity Traded 5 5

Activity Summary EQTY Board Totalson Board PREMIUM Daily Summary as of 19/10/2015 FINANCIAL SERVICES Printed 19/10/2015 Banking14:32:20.020

Value Traded 53,055,730.13 53,055,730.13 Value Traded 15,832.32 900.00 829,421,661.90 of 12 16,016,515.78 461,359.52 45,916,269.52

Current Price 3.15

Symbol DAARCOMM Symbol

NIGERIAN AVIATION HANDLING COMPANY PLC Road Transportation SERVICES ASSOCIATED BUS COMPANY PLC Published by The Nigerian StockServices Exchange © Transport-Related Road Transportation Totals Activity Summary onServices Board EQTY Transport-Related Totals

Current Price 27.41 1.80 280.00 154.00 150.01

Quantity Traded 5,712,028 5,712,028 Quantity Traded 608 500 Page 105,357 106,569 3,087 216,121

No. of Deals 1 1

Employment Solutions Totals Media/Entertainment DAAR COMMUNICATIONS PLC Hotels/Lodging Media/Entertainment IKEJA HOTEL PLC Totals

Printing/Publishing Totals

Symbol LENNARDS

Symbol IKEJAHOTEL Symbol

Hotels/Lodging Totals Printing/Publishing ACADEMY PRESS PLC. Media/Entertainment LEARN AFRICA PLC Daily Summary as of 19/10/2015 DAAR COMMUNICATIONS PLC UNIVERSITY PRESS PLC. Printed 19/10/2015 14:32:20.020 Media/Entertainment Totals Printing/Publishing Totals Printing/Publishing Road Transportation Daily Summary as of 19/10/2015 ACADEMY PRESS PLC. ASSOCIATED BUS COMPANY PLC LEARN AFRICA PLC Printed 19/10/2015 14:32:20.020 Road Transportation Totals UNIVERSITY PRESS PLC.

Current Price 0.50

325

Courier/Freight/Delivery Totals Hotels/Lodging IKEJA HOTEL PLC Employment Solutions Hotels/Lodging Totals C & I LEASING PLC.

Transport-Related Activity Summary on Services Board EQTY

1,712,740.76

Symbol CUTIX

Activity Summary on Board EQTY

50.00 12 of

1,515,120

No. of Deals 3 3

OIL AND GAS Totals

Value Traded 24,463,072.12 6,192,453.37 4,142,121.96 2,659,778.54 139,578,787.41 4,636,977.15 8,829,603.68 26,014,904.19 Value Traded 3,349,454.81 4,849,854.00 5,472,394.57 12 4 of 230,189,401.80

Value Traded 47,910.15 4,200.00 1,707,036.76

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

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

Value Traded 1,061,670.87 515,975,742.70 517,037,413.57 Value Traded 28,300.00 8,386,291.50 46,000.00 12 3 of 8,460,591.50

Current Price 0.88 1.00 0.50 0.50 0.50 2.68 0.50 0.69 0.50 0.50 0.50

NPFMCRFBK

No. of Deals 12 5 1 1 2 3 2 9 1 6 1 43

Quantity Traded 49,199 621,674 670,873 Quantity Traded 1,000 1,620,300 50,000 Page 1,671,300

Value of Shares(N)

Quantity Traded 10,245 2,000 1,504,320

Symbol COURTVILLE

Building Materials Totals

Current Price 0.50

Quantity Traded

Current Price 4.91 2.14

ICT Totals Daily Summary as of 19/10/2015 Printed 19/10/2015 14:32:20.020 INDUSTRIAL GOODS

No. of Deals 2 (Equities) 2

FINANCIAL SERVICES Totals HEALTHCARE Healthcare Providers EKOCORP PLC. UNION DIAGNOSTIC & CLINICAL SERVICES PLC Healthcare Providers Totals

No Of Deals Symbol NIG-GERMAN PHARMDEKO

INDUSTRIAL GOODS Totals Symbol DUNLOP Daily Summary

CONSUMER GOODS Totals

Daily Summary as ofSERVICES 19/10/2015 FINANCIAL Printed 19/10/2015 14:32:20.020 Banking

Company name

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

Current Price 4.16 2.13 28.85

Daily Summary as of 19/10/2015

Activity Summary on Board EQTY

HEALTHCARE Totals

No. of Deals (Equities) 6 87 60 153

Infrastructure/Heavy Construction Published by The Nigerian Stock Exchange © JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals

Symbol Daily Summary SCOA TRANSCORP UACN

Sector

HEALTHCARE Pharmaceuticals NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

Activity Summary on Board EQTY

Daily Summary (Equities)

1,934,700,608.51

8,375,299.06 Value Traded 12 11 of 8,375,299.06 8,375,299.06 384,557,214.64

104,457,893 12 Page 1,934,700,608.51 11 of Quantity Traded 10 10 20

Value Traded 96.40 137.10 233.50

20 Quantity Traded 10 10 20 20

233.50 Value Traded 96.40 137.10 233.50 233.50

ETF Board Totals

233.50

ETP Activity Totals

233.50

Page

National Mirror www.nationalmirroronline.net

North

Tuesday, October 20, 2015

PCRC refurbishes unserviceable police vehicles in Kaduna A ZA MSUE KADUNA

Pupils of Ojone’s Prince and Princess Academy, during a visit by News Agency of Nigeria to the school in Bauchi, yesterday.

Clerics in Taraba proffer solution to Zing chieftaincy crisis JUSTIN TYOPUUSU JALINGO

ollowing the controversy trailing the choice of a successor to the late Kpanti of Zing, Alhaji Abbas Ibrahim Sambo, a first-class chief in Taraba State, the Forum of Indigenous Pastors from Zing Local Government Area want the state government to honour the popular wish of the people. Chairman of the forum, Rev. Fr. Julius Nyasi, at a press briefing in Jalingo yesterday said the briefing became necessary as a result of the religious colouration some people were giving the controversy, which is capable of fuelling crisis. The late Kpanti Zing, who was the leader of Taraba delegation to this year’s Hajj died recently

in Saudi Arabia along with his two wives during a stampede that killed tens of dozens. Fr. Nyasi explained that the Kpanti Zing is the custodian of the tradition and cultural heritage of the Mumuye people of Zing Local Government, irrespective of their religions, adding that the issue was not about religion, but the right person that could uphold the culture and tradition of the Mumuye people and prevent same from extinction. According to him, at various times in the past, Catholic priests, United Methodist pastors, Yakoko elders forum, adherents of Mumuye traditional religion and some groups met separately with the late Kpanti with written observations

about the gradual erosion of the traditional and cultural values of the Mumuye people, but the late Kpanti refused to address the issues. “So, the unanimous decision of the Mumuye people to come all out and speak with one voice today did not start just with the issue of the choice of the successor to the throne of Kpanti Zing. “The people want somebody that can protect their culture and tradition without minding his religion. The four contenders presented for the throne are all Muslims. Mr. Linus Ibrahim who was appointed by the government in acting capacity, but was rejected by the people, is a Christian.” The forum insisted that it has no candidate in mind and condemned themisleading comments

by some people, giving the controversy a religious face. It urged the state government to hasten the process of electing a successor to the throne to avoid possible breakdown of law and order. Tension heightened recently in Zing following the death of the king (Kpanti Zing) and the appointment of Mr. Linus Ibrahim (Wazirin Zing) by the government in an acting capacity. The traditionalists and the kingmakers rejected his choice and brought out their oracle (Dodo) in protest and prevented the acting Kpanti from assuming the throne. The people are demanding the installation of Sulaima Sambo, popularly known as Bala, whom they said has demonstrated the capacity to lead them as the next Kpanti of Zing.

KATSINA

s a way of reducing cases of fire incidence and other related disasters, the National Emergency Management Agency, NEMA, has commenced training of school children on disaster management in Katsina State. The training may not be unconnected with past cases of fire incidents in some public boarding schools that had led to loss of property worth millions of Naira in the

state. Speaking during the opening ceremony of the training yesterday, NEMA’s North West zonal coordinator, Musa Ilal’lah, said the exercise was aimed at inculcating the culture of disaster risk reduction in the minds of school children. Ilal’lah added that the training would educate school children on disaster risk identification and reduction techniques; prevent hazards in schools and homes as

well as offer basic tips on personal safety within and outside the school. He said children are the most vulnerable group in society and that “this underscores the need for us to focus our attention on children with a view to developing their capacity so that they can competently mitigate the impact of disaster.” He called on participants who were drawn from different secondary schools in the state’s three senatorial zones to make good use of what

Mob attacks bailout verification team in Benue HENRY IYORKASE MAKURDI

andemonium broke out yesterday in Vandeikya Local Government Area of Benue State when officials of Bureau for Local Government, carrying out the ongoing staff verification exercise were attacked by hoodlums. It was gathered that the hoodlums, numbering over 500 who stormed the local government headquarters, venue of the verification exercise, and insisted on being captured alongside others on the biometric list. It was alleged that the refusal by the team they learnt during the to include those whose names did not reflect on training. Earlier, permanent the payment schedule secretary in the state for staff did not go down Ministry of Education, well with the hoodlums, Sagir Ibrahim, had said consequently leading to the ministry has estab- protests and a free for all. Members of the verilished disaster clubs in fication team could not 25 selected secondary be reached as they were schools as a way of ensaid to have sustained couraging disaster manmultiple injuries and agement in schools in the rushed to hospitals by state. sympathisers. Ibrahim said the trainA staff of the local ing of school children on government council disaster management is who did not want his necessary in view of rename mentioned, idenported rampant cases of fire outbreak and other tified the trouble makers as dismissed former disasters in schools.

NEMA trains Katsina school children on disaster management JAMES DANJUMA

olice Community Relations Committee, PCRC, yesterday began refurbishing of police non-functional vehicles in Kaduna for effective security checks against criminals and trouble makers. Speaking at the hand-over of one refurbished car to the Banarwa Divisional Police Officer, DPO, Walben Dakyer, on behalf of the state’s police commissioner, the chair man, PCRC, Banarwa police division, within the Kaduna metropolis, Sir Emmanuel Nosiri, said the initiative would boost police routine patrol in the state. Nosiri, while com-

mending police in Banarwa for adequately policing the community, called for more vehicles to enable the police perform its constitutional duties. On his part, Kaduna State police commissioner, Umar Shehu, who was represented by the command’s Police Public Relations Officer, Abdullahi Zubairu, described the PCRC gesture as historic and urged other divisional stations to emulate it. On his part, Dakyer said the PCRC initiative would assist his men and officer to quickly respond to distress calls, adding that the division has no single vehicle, thus leading to delays in responding promptly when criminal activities are reported.

staff who, he said, alleged that they had taken their case to court and won and therefore deserve to be reinstated and the biometrics data update extended to them. He added that machines and gadgets used in the biometric exercise were smashed. Officials of the bureau had suffered the same fate at Tarka Local Government Area where the leader of the team was cornered and pelted with stone, leaving him unconscious and in a pool of his blood. When contacted, special adviser to Governor Samuel Ortom on Bureau for Local Government and Chieftaincy Affairs, Hon. Titus Zam, condemned the attack. He said investigation would be carried out to determine the circumstances that led to the attacks, insisting that the perpetrators must be brought to book.

Gov. Ortom

National Mirror National Mirror Tuesday, 20, 2015 47 Tuesday, February 4, October 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

rIcharD NDoma, CALABAR

he body of a young man said to be about 22 years old was on Monday morning found in a waste bin situated along Edgerly Street in Calabar, capital of Cross River State. The body was said to be with bruises and injuries which seemed to have been inflicted by machete cuts all over his body. A passer-by, who refused to disclose his name to Community Mirror, said he recognised the body of the deceased and removed it to Edibe-Edibe Road where parents of the deceased live. As at the time of filing this report, the Police Public Relations Officer (PRO), Hogan Bassey, said he was yet to be briefed about the incidence, and said he can not speak on the issue. It was gathered the decease whose name was given simply as Etebong who is very popular in the neighbourhood in Calabar South Local Government Area of Cross River State was with his friends near his home when he received a phone call from his girl friend around 8:00pm. “Etebong was with us when we were drinking. Later, he received a call and said it was his girl friend that called, inviting him over to her house”, said his friend, Samuel Effiong. A family source maintained that the deceased later put a call

Man, 22, killed, dumped in waste bin in Calabar

ABUJA

High Court of the Federal Capital Territory has been asked to restrain about 707 traders from forcefully gaining entrance and possessing the N6.5bn Wuye Ultra-modern market for business activities. The traders led by Abah Denish, dragged the minister of the FCT, the Federal Capital Development Authority (FCDA), All Purpose Shelter Limited and Abuja Investment and Property Development Company to the court over allocation of shops at the market. The market has been a subject of litigation since last year after it was commissioned by former President Goodluck Jonathan. One of the defendants in the case, APSL has filed a motion before the court asking it to set aside the writ of possession issued to the traders by the court on June 9th, 2015.

•Recovers 65 cows, 19 sheep in Bauchi ezekIel TITus, BAUCHI

Church on wheel.

PHOTO: ABIOLA ABDULHAMMED

across to his house in the night asking if there was electric power, but when he was told there was no power he then said he would not return till the following morning. When our reporter visited the deceased family house the mother was inconsolable as she went

blank when the news of his son broke out that his son was death. Friends, neighbours and sympathisers thronged the deceased’s compound throughout yesterday. However Close sources speculated that the deceased may been hit by a rival secret cult group or

a gang which he may had belong. Consequently, residents of Edibe-Eibe Road axis of Calabar South where the deceased lives until death is griped with fear that there was going to be reprisal attacks by rival cult groups due to the killing of Etebong.

It also asked the court to restrain them from forcefully taking possession of the market. November 10 has been fixed as the hearing date of the motion. But APSL, in a letter is asking the court to shift the hearing to a earlier date for a speedy hearing of the motion. Also in the motion, the court was also asked to make definite pronouncement on the judgement to end the different interpretation being given to the judgements by parties. A stay of the execution of the judgement of the court has also been filed by the Abuja Investment and Property Development Company as well as an appeal against the judgement. In the motion for stay of execution of judgement filed by James Idiih, the court is being called upon to declare that the plaintiffs in the suit lack the locus stadi to institute the actiion. They are also challenging the jurisdiction of the court to hear

the matter. In the appeal, the company said the judgement is against the weight of evidence before it It also said that the judge erred in law in his failure to appreciate the quality of evidential burden that had to be discharged by the party who asserts. Justice O.A. Musa had on

March 23, 2015 ordered that the traders should be allowed access into the market after paying grounded rents and other statutory charges. But the traders are claiming that the court had given them unfettered access to the market saying that the FCT should bear the cost of the construction of the market.

N6.5bn market tussle: Court asked to restrain forceful take-over by traders Doosuur Iwambe

Bauchi Police Nabs 2 suspected cattle rustlers

auchi State Police Command said it has arrested two suspected cattle rustlers and recovered 65 cows 19 sheep at Kwajamau Bush in Toro Local Government Area of the State. The Command Public Relations Officer (PPRO) DSP Haruna Mohammed disclosed this while briefing newsmen in Bauchi,saying police received intelligence report and the Joint Police vigilante group laid ambush and arrested the two suspected cattle rustlers at Kwajamau notorious bush in Toro L.G.A According to him, the following suspected cattle rustlers were arrested by the joint police, vigilante group they are Mohammadu Shumi 25 years and Abubakar Muhammed 30 years all hale from Zaria in Kaduna State and recovered 65 cows and 19 sheep’s The Police spokesman said the suspects lured and stole 40 Cows belonging to one Muhammad Bello 42 years of Zaria LGA from his Son one Auwalu Muhammad male and 17 years at Yuga Forest,while rearing. DSP Haruna explained that the police recovered number of exhibits from the Suspects which includes ,Sixty Five Cows including Forty stolen from the complainant and Nineteen Sheep’s. He then called on general public whose Cattle and sheep were stolen to report to police Division Toro for possible identification of their stolen cattle.

Community urges Aregbesola not to merge institutions bolaDale bamIgbola OSOGBO

ree, a community in Boripe local government area of Osun state, yesterday urged Governor Rauf Aregbesola not to merge Osun state polytechnic located in the town with any other institution under the guise of restructuring. Speaking at a meeting held by indigenes of the town at Iree Town Hall, Prince Tayo Olatoke, who spoke on behalf of Asiwaju

of Iree, Eng. Adenrele Afolabi and President Iree Progressive Association, Alhaji Yekini Oyedele, insisted that the polytechnic should remain in the town and retain its present status. He added that the institution must not be sold to private investors or placed under public and private partnership, so as not, to defeat the aim behind its establishment. Speaking on the danger the alleged merger portend, Olatoke maintained, “job insecu-

rity for staff will lead to job loss with the attendant psychological and economic effect staff, family and dependants. “Iree and its environs will be deprived of continuous comprehensive development in the economic and commercial activities while social activities in the town would totally be brought to a halt.” Pastor Owolabi called on him to empower the youth who are according to him future leaders.

National Mirror www.nationalmirroronline.net

Tuesday, October 20, 2015

Tuesday, February 4, 2014

National Mirror www.nationalmirroronline.net

World News The US have accused us of killing the wrong terrorists. But we have killed terrorists, anyway.

Migrants stranded at Croatia-Slovenia border

–RUSSIAN LEADER, VLADIMIR PUTIN

African Standby Force begins maiden military drills AfolAbi GAmbAri

File copy of African Union Mission to Somalia (AMISOM) soldiers patrolling a Mogadishu street after a car bomb in February

the force is to respond to crises and monitor peacekeeping missions. The exercise was meant to be carried out in Lesotho in 2014 but was delayed because of security issues in the country. One of the reasons the ASF was established was so African countries did not need to rely on countries outside Africa for

conflict resolution. Investigations, however, revealed that the AU would have to ask donors for money as it said in May that it needed $1bn (£700m) “to make the force operational”. There are also challenges relating to poor co-ordination and the lack of political will among member states, according to the

investigations which also revealed that the African Union had become much more willing to intervene in countries the turn of the new millennium. The force will be allowed access into any AU member country uninvited in cases of genocide, crimes against humanity or war crimes.

have changed since the end of apartheid in 1994, critics say the economic conditions of black families wanting to enroll their children have all but remained the same. Black students said the institutions’ high fees had kept them

from getting a good education as many relied on student loans and scholarships. Ironically it is the “bornfree” generation, those born after the advent of democracy, now calling for transformation in the elite institutions. Some

are calling for free education hoping this will level the playing fields between the affluent and the poor. Higher Education Minister, Blade Nzimande, said yesterday that a meeting had been scheduled for today for university administrators, employees and student leaders to discuss fee increases. “I urge university authorities to exercise greater caution and sensitivity in the process of determining fee increases,” she said, adding, “A solution would need to balance the difficulties of poorer students with the financial pressures currently facing the system.”. Classes were suspended at Rhodes University in Eastern Cape Province after students armed with sticks set up barricades of burning tyres, blocking road access to main campus entrances.

Fees protest: Authorities shut SA varsities

rotests over fee increases yesterday forced the suspension of teaching at three of South Africa’s top universities. Protests have spread from Johannesburg’s Wits University, closed last week after thousands demonstrated on campus, to the universities of Rhodes and Cape Town (UCT). Wits University agreed to suspend a 10.5 per cent tuition fee increase on Friday, pending negotiations with students. But protesters argued that poorer, mainly black students, would be worst affected. A statement from Wits University said that a decline in state subsidy over the years, combined with inflationary pressures, were behind the fee increases in recent years. Many of the affected universities are historically white institutions and while the demographics in the classrooms

AFRICAN BULLETIN

Israel probes Eritrean killing Police in Israel are investigating an attack by bystanders on an Eritrean, who died after being mistaken for a gunman and then shot and beaten. Video showed the man, identified as Mulu Habtom Zerhom, 19, lying in a pool of blood as onlookers threw a set of chairs on him and kicked him. It happened at the time of a deadly attack by an Israeli Arab, at the same place, in Beersheba. He was shot dead. Israel has seen a wave of stabbings and shootings by Palestinians this month. Eight Israelis have been killed and dozens wounded in the attacks. More than 40 Palestinians, including several of the attackers, have also been killed in the growing unrest. The upsurge in violence began last month when tensions at a flashpoint holy site in Jerusalem revered by Jews and Muslims boiled over amid rumours Israel planned to relax long-standing rules to strengthen Jewish rights at the complex.

WITH AGENCY REPORT

embers of the African Union’s new 25, 000-strong multinational standby force are gathering to begin field training for the first time, according to reports yesterday. The exercises in South Africa aim to make sure the force is ready by January to respond to crises across the continent. The force, to be made up of five brigades from Africa’s economic blocs, is being established to avoid reliance on the outside world in peacekeeping across the continent. The logistical base for the African Standby Force (ASF) will be in Douala in Cameroon following a deal signed last week. The training commenced at the South African Army Combat Training Centre in Lohatla with an opening ceremony yesterday. About 5, 000 officers from the military and police officer will today be in the field where the ASF will have to intervene in a fictitious country. The operation, which continues until November 5, is intended help evaluate how ready

51 47

Students protesting yesterday outside the Wits University, Johannesburg yesterday

Egyptian writer, al-Ghitani, dies Acclaimed Egyptian novelist and journalist, Gamal al-Ghitani, has died in Cairo, aged 70. Al-Ghitani had been in a coma in hospital for two months after being admitted with respiratory problems. Trained as a carpet designer, Ghitani took up journalism in his 20s and went on to write historical fiction. Much of his work has been widely translated, including the 1974 novel Zayni Barakat, considered a seminal portrayal of authoritarian rule. Set in the Mamluke era, the novel was seen as a veiled critique of the regime of President Gamal Abdel Nasser. As a journalist, Ghitani also reported from the frontlines during the Arab-Israeli conflict of 1973.

Game hunting becomes legal The controversy over big game hunting, the killing of majestic animals as trophies, has erupted again. This time the hunt was legal. And the animal was not Cecil the lion but a nameless elephant of enormous size and advanced years. The creature was, by some accounts, the largest elephant shot in Africa in 50 years. And, legal or not, the central question remains: Is the thrill-killing of majestic animals, legal or not, acceptable? Or should big game hunting be relegated to the era of Teddy Roosevelt more than 100 years ago? The hunter this time was not an American dentist, as was the case with Cecil the lion, but a German hunter who paid $60, 000 for the hunt, according to the Telegraph, a British newspaper.

Tuesday, October 20, 2015

Olympic: Slumbering AFN can’t make magic in Rio –Aliyu 55

National Mirror www.nationalmirroronline.net

Sport

Retirement? Not for me, especially now that I am enjoying myself doing what I know how to do best –Brazil Legend, Ronaldinho

Golden Eaglets’ top striker Victor Osimhen (r) tussling for aerial ball against USA opponent last Saturday

Don’t fear

Today’s fixtures

Chile, Amuneke warns Eaglets …match begins 12 midnight

EvErEst OnyEwuchi

igeria U-17 team coach, Emmanuel Amuneke, has warned his boys to expect tough fight when they confront the hosts later tonight, in their second match at the ongoing FIFA U-17 World Cup in Chile. The clash between the Golden Eaglets and Chile will kick off at midnight today in the city of Vina del Mar. Nigeria had defeated the United States of America 2-0 in their opening match in Santiago, last Saturday, with goal from Chukwudi Agor and Vic-

tor Osimhen. National Mirror learnt that on Sunday, Amuneke and his charges arrived in Vina del Mar and promptly settled in for the battle against the hosts that played out a 1-1 draw with Croatia in the official opening match of the tournament. That victory took Nigeria to the top of Group A and tonight’s clash at the Estadio Sausalito is really expected to be tough for the two teams. “Once again, we want to congratulate you for a good job done on Saturday against USA but we still have a long way to go,” Amuneke told his players before training on Sunday.

“To win the World Cup, a team must play seven matches and as such, we must not get carried away and be complacent because we beat the USA.” The former Super Eagles forward warned that the match against the hosts would be a different ball game, since it is a must win for them to be in contention for the knockout stages. “The match against Chile would be tougher and we want to approach the match with seriousness and high sense of responsibility. We have to be focused because there would be no margin for errors against Chile on Tuesday.”

USA

Croatia

England

Brazil

Chile

Nigeria

S/Korea

Guinea

CHAN: Rangers defender replaces Kwambe

nugu Rangers defender, Matthew Etim, has been called up to the Nigerian camp as they prepare for the second leg game against Burkina Faso in the 2016 CHAN qualification this weekend. According to a supersport. com report, Etim takes the place of Warri Wolves defender, Solomon Kwambe, who has had to be left out of the squad after he crocked up in last Saturday’s 2-0 win over the Stallions of Burkina Faso at the Adokiye Amiesimaka Stadium in Port Harcourt. “Solomon Kwambe has had to pull out of the trip to Burkina Faso unfortunately due to injury. He will be replaced by Rangers defender, Matthew Etim,” Super Eagles spokesman, Toyin Ibitoye, said yesterday. Kwambe, the Warri Wolves

man, man has, however, expressed sadness at missing out of the trip to Burkina Faso. “It is a painful situation for me. I never knew this (injury) will happen at this time. I wish my teammates the best while I recover and hopefully battle my way back into the team again,” the former Sunshine Stars man.

Kwambe

Sports

Tuesday, October 20, 2015

National Mirror www.nationalmirroronline.net

UEFA Champions League…

Today’s fixtures BATE vs Barcelona Leverkusen vs Roma

Wenger

Gunners desperate to perform –Wenger

rsenal manager, Arsene Wenger, yesterday, said his

side need “a great performance” to beat Bayern Munich tonight and revive their Champions League campaign. The Gunners, who are second in the Premier League, lost their opening two Group F games to Dinamo Zagreb and Olympiakos. Contrastingly, fivetime European champions,

Bayern, have won all nine Bundesliga games this season and both of their games in Europe. “Let’s take positives from our form in the league,” Wenger told BBC Sport. “The confidence level is there, we know exactly what is required. A goalless draw is not even a good result. To score goals, we have to attack,” he added. Arsenal have lost their last two home Champions League games against Bay-

ern, but have also won one and drawn one in their last two trips to Munich. “It is true that we have delivered big results before, but we want to do it again because we feel a bit that the pain inflicted in the Champions League was a bit by ourselves,” added Wenger. Speaking about Bayern’s 100% winning form this season, Wenger said, “There is no team without weaknesses.” Meanwhile, Arsenal’s

‘Buffon

Buffon

injury not serious’

uventus goalkeeper, Gianluigi Buffon, is expected to be available for tomorrow’s Champions League fixture at home to Borussia Monchengladbach after declining to have a scan on his injured calf. Buffon had been expected to undergo tests on Monday after suffering the injury during Juve’s scoreless draw away to Inter Milan last Sunday. But reports said the Italy ‘keeper would not have a scan after he turned up for training yesterday, at Juve’s

Vinovo training complex outside Turin. Juve host Monchengladbach looking to make it three Champions League wins out of three after defeating Manchester City and Sevilla earlier in the competition. Massimiliano Allegri’s men, however, still have ground to make up in Serie A after a dismal start to the season. Juve sit in 14th place, four points above the relegation zone and nine behind leaders Fiorentina.

Arsenal vs Bayern M. Dinamo Zagreb vs Olympiakos Dynamo Kiev vs Chelsea FC Porto vs Tel Aviv Valencia vs KAA Gent Colombian goalkeeper, David Ospina, who was surprisingly picked ahead of Petr Cech against Olympiakos and conceded an own goal in the 3-2 defeat, is injured and will not be available. That means Cech will start tonight. Also, the Gunners have centre-back, Gabriel, available again following illness. Striker Olivier Giroud returns from a European suspension after his red card in Zagreb.

ayern Munich are confident Coach Pep Guardiola will stay on at the German champions past the end of his current contract next year despite reported interest from other major European clubs, CEO Karl-Heinz Rummenigge said yesterday. Guardiola, who won more than a dozen titles in his four years at Barcelona, joined the Bavarians in July 2013, winning dominant back-to-back Bundesliga titles in his first two seasons in charge. Undefeated Bayern are already seven points clear at the top of the league after a recordbreaking nine-match winning start as they chase an unprecedented fourth consecutive Bundesliga crown and the third under Guardiola. “I have said that in the second half of 2015 there will be a (contract) discussion and after that there will be clarity,” Rummenigge told reporters ahead of his departure for London where Bayern face Arsenal in tonight’s Champions League group match. The team had left a day earlier. “That talk is still pending, but it will still take place sometime before the end of the year,” he added.

Zenith St. Peter vs Lyon

Bayern hopeful Pep will stay on

Guardiola, who has refused to comment on any issue related to a new deal with Bayern, is reportedly top of the wish list for several major European clubs. Meanwhile, Guardiola has warned his Bayern Munich players to brace themselves for a ferocious test from an Arsenal side fighting for Champions League survival. “I don’t expect anything other than a fight for the 90 minutes,” he said yesterday.

Guardiola

National Mirror www.nationalmirroronline.net

Sports

Tuesday, October 20, 2015

Olympics:

Mercyjacob_26@yahoo.com Tel: 08063056537

Slumbering AFN can’t make magic in Rio

ess than 300 days to the start of the 2016 Olympic Games, ex-top athlete, Deji Aliyu, has predicted that Nigerian track and field athletes might be in for a jamboree if the Athletics Federation of Nigeria (AFN) failed to take the right steps. Aliyu told National Mirror in an exclusive chat that Nigeria would not do any meaningful thing at the Olympic Games so long as the AFN was yet to identify its team, insisting that no magic would work. “It is disheartening each time I remember we are going to Olympics and we are yet to identify the athletes we are going with,” Aliyu began. “Sincerely, it is a big problem because those we are going to compete with at the Games have already identified their athletes and they are in top gear of their preparations. “To be realistic, no miracle will save the athletes because we are not doing the right thing, except we do something extraordinary, Nigerians should not be expecting any medal. “Some nations we are going to compete with started their preparations immediately after the London 2012 Olympics while we are here relaxing, waiting may be few days to the event to commence our preparations, instead of preparing the athletes immediately they came back from the African Games in Congo Brazzaville. Rather than doing that everybody has gone to

Aliyu

–Aliyu

bed while serious countries are busy investing in their athletes. To tell you the truth, we have talent in this country but none of them can compete favourably with the likes of Usain Bolt and other world best sprinters. “Right now the athletes are scattered in different places not knowing their fate. Some are training with the limited resources available to them and we are expecting the best from them within a month of preparation, it is not possible. Definitely, AFN will probably end up calling them to camp four weeks to the start of the competition and they would want them to fly. Let’s stop making mockery of ourselves and do

the right thing. “In my active days things seem to be better than what we are seeing today. The passion was so high, the hunger and zeal were there. Above all the support and incentives was also there. But today it seems as if Blessing Okagbare is the only athlete we have while there are so many medal prospect athletes, but they are not getting the support from AFN. “What the athletes need to succeed is a long term programme and support of the federation but unfortunately they are not getting it.” Speaking further, Aliyu advised the AFN to wake up before the sport dies in their hand.

World bits…

Coe unveils Olympics dividend

nternational Association of Athletics Federations (IAAF) President, Sebastian Coe, has announced to his member federations full details concerning the ‘IAAF Olympic Athletics Dividend’ which offers $25,000 every year to each national affiliate to assist their development. Athletics’ premier position in the Olympic movement secures the IAAF the largest proportion

of the revenues which the International Olympic Committee (IOC) distributes to the international federations who govern the 28 sports within the summer Olympic Games. “How the IAAF invests the quadrennial fee received from the IOC to better serve its member federations was one of the major pillars of my election manifesto to become IAAF president,” confirmed Coe.

Beijing to host 2017 World Women’s Curling meet

eijing will host the 2017 World Women’s Curling Championships, in what will prove a key marker of the city’s winter sporting credentials five years before the Olympic and Paralympic Games are due to be held in the Chinese capital, it was announced yesterday. The event, awarded by the World Curling Federation (WCF), is due to be played between March

Ogba

Star Quote…

All top international athletes wake up in the morning feeling tired and go to bed feeling very tired

Brendan Foster

18 and 26. It will mark the first edition of the women’s championships to take place in China, following the men’s version held at Beijing’s Capital Indoor Stadium last year. A venue is yet to be confirmed this time around, with curling action at Beijing 2022 set to take place in the Water Cube venue, which hosted the aquatics competitions during the Summer Olympics.

Rio 2016: ‘No viral testing of polluted waters’

here will be no viral testing of the waters of Rio de Janeiro ahead of next summer’s Olympic and Paralympic Games, organisers have announced following consultation with the World Health Organisation (WHO), but bacterial studies will be increased. Pollution has become a major concern at venues for many of the water-based sports, including the Lagoa Rodrigo de Freitas where

rowing and canoe sprint are due to take place, Copacabana Bay where triathlon and open water swimming will be held, and the sailing venue on Guanabara Bay. The sailing venue has attracted most concern, with a study conducted earlier this year by Associated Press reporting a “major risk” of athletes contracting illnesses, with at least two sailors having been taken ill during August’s test event.

WORLD RECORD

Firstmarathon people todribbling reach thetwo north pole Fastest basketballs

N150

Vol. 05 No. 1225 Tuesday, October 20, 2015

The largest dessert pizza has a total surface area of 14.28 m² (153.71 ft²) and was prepared by the Record Pizza Men team

University education agenda for Buhari

he result of the last March 28 presidential election showed very clearly that Nigerians desperately wanted a change that will place their country in its rightful position as Africa’s most populous country and the 5th biggest oil producing nation in the world. My prayer is that Almighty God will use him to effect the required change within the four years of his tenure in office. In choosing the men and women that will assist Mr. President to effect the much needed change, he should please eschew ethnicity, nepotism or as qualifying criteria. For example, the education minister we need must be a renowned professor of international repute with burning

Guest Columnist

T. I. Odiaka

passion for the upliftment of educational standards in Nigeria. The establishment of so many new universities as witnessed during Dr. Goodluck Jonathan administration is certainly not the answer to high educational standard. These universities were established simply for political gains, and they are best described as “glorified secondary schools”. Mr. President, the state of Nigerian universities is so pathetic that lecturers in some of them now resort to plagiarism, internet scam and manipulation of ‘scientific’ results to produce ‘research’ papers for promotion in order to beat the “publish or perish” syndrome in the sytem. During my tenure as the Dean of Science, University of Ibadan, I received 40 published articles from a university for the assessment of a candidate to the grade of Reader in Chemistry. After an extensive internet search and use of the Kenneth Dike Library of the university, it was discovered that only three of the 40 journal articles were original works. I had to advise the then Vice-Chancellor to get the candidate arrested immediately by the police for gross academic and professional misconduct. I was also recently invited by the ViceChancellor of a federal university to look at the publications of a candidate wishing to be promoted to the grade of professor. Of the 45 publications in my hands, only five were original works. I recommended that the candidate be sacked immediately and this was effected. Regrettably, this same candidate

IT IS PERTINENT TO NOTE HERE THAT

GHANA, A COUNTRY LESS ENDOWED THAN OURS SPENDS

31 PERCENT OF HER ANNUAL BUDGETARY ALLOCATION ON EDUCATION is now a Professor of Chemistry in a private university. The rot in our university system can only explain the criminal tendencies of these lecturers and several others in our universities. Over 90 percent of university teachers in Nigeria are suffering the frustration and indignity of under-employment due to the dearth of research facilities for original work. Since this writer left his well-equipped Chemical Laboratory at Lensfield Road, University of Cambridge, U.K. to join the services of the University of Ibadan in 1981, the Nigerian government has never allocated more than 8.4 percent of her annual budget to the education sector when the minimum recommended by the United Nations Educational, Scientific and Cultural Organization (UNESCO) is 26 percent. This is the main reason why our universities will continue to remain “glorified secondary schools” at the ex-

pense of the nation’s development and our youths, who are at the receiving end. It is pertinent to note here that Ghana, a country less endowed than ours spends 31 percent of her annual budgetary allocation on education, explaining why Nigerians now send their wards to this country. When the Jonathan administration announced the establishment of nine new federal universities within five months in April 2011, N1.5 billion was made available immediately as a takeoff grant for each of them. What Jonathan did not know is that the N13.5 billion collectively earmarked for the new universities is not enough to equip all the laboratories in the University of Ibadan’s Department of Chemistry, since research equipment alone must be imported from the developed countries of the world - N13.5 billion now comes to $70 million dollars! Nigeria currently has 232 approved universities, 38 of these are federal, 44 state, while 150 are private. None of these universities appeared amongst the best 3000 Universities in the recent world rating. There are at least 40,000 academic vacancies in our universities, excluding those established in the last three years; and we do not have qualified lecturers to fill these positions. The situation is so bad that we know of some young lecturers, who teach in three different universities for financial gains. The reason for this acute shortage of academic staff is simply because qualified academics cannot be imported from abroad like cars, but must be trained in highly equipped world-standard universities, which we lack in Nigeria, particularly in sciencebased disciplines. To be concluded Professor Odiaka is Professor of Organometallics and Coordination Chemistry and a former Dean of Science, University of Ibadan.

Sport Extra

uspended UEFA president, Michel Platini, yesterday admitted that he had no written contract for a $2million payment from equally suspended FIFA president, Sepp Blatter, ahead of a key FIFA Executive Com-

FIFA: Platini admits payment without document mittee meeting in Zurich today. Platini also told Le Monde he felt Blatter was seeking to “kill me politically” over the payment which looks to have

doomed any chance of his succeeding the veteran Swiss at FIFA. In his first interview since being handed a 90day suspension from all football-related activities,

the former star player for France and Juventus said although he had nothing in writing, he had made a “man to man” agreement with Blatter over the contested remuneration.

Platini added that, as he understood it, under Swiss law “an oral contract is worth a written contract.” FIFA is based in Zurich and is subject to Swiss law.

Platini

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