Yar’Adua’s associates unite, plan for 2015
...as PDP blasts Buhari OBIORA IFOH ABUJA
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rominent politicians, including chieftains of the Peoples Democratic Par-
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THE
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Business Courage now wears a new look
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Customs acquires aircraft to combat smuggling P.A6
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Monday, September 3, 2012
How security agents A aid oil thieves –Investigation
N150
EXCLUSIVE
SAM OLUWALANA
...NNPC loses millions of naira daily
high level syndicate of oil thieves that specialises in vandalising oil pipelines in Lagos and Ogun states with the connivance of the security agents has been uncovered. The government is reportedly losing millions of naira daily in products stolen from National Petroleum Corporation, NNPC, pipelines by highlyorganised gangs at several CONTINUED ON PAGE 2>>
NICON Insurance, FRSC to sensitise youths on road P.7 safety
L-R: Vice-Chancellor, Redeemer’s University, Prof. Zachariah Adeyewa; Osun State Deputy Governor, Mrs. Titi Laoye-Tomori; General Overseer, Redeemed Christian Church of God, Pastor Enoch Adeboye; Timi of Ede, Oba Adesola Lawal and Osun State Governor Rauf Aregbesola, at the inauguration of Redeemer’s University permanent site in Ede, Osun State, yesterday.
Cynthia: Lawyers fault PSN’s stand on trial P.4
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News
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
How security agents aid oil thieves CONTINUED FROM PAGE 1
points in the two states. Our correspondent gathered that the oil thieves also siphon petroleum products from vessels waiting to discharge imported fuel at the Lagos ports. Investigation by National Mirror showed that the thriving oil theft operations is the backbone of an illegal underground economy along the coastal towns and villages in both states. The illegal trade is allegedly being perpetrated by residents with the connivance of staff of the NNPC depot located in Mosimi, a settlement around Ikorodu; Arepo, a settlement town along Lagos-Ibadan expressway, Majidun and Ishawo near Ikorodu and Ajegunle popularly called, “The Jungle City”. Other towns include Akute, on the border of Lagos and Ogun states, Takwa Bay Island and Epe, a famous fishing town. National Mirror gathered that workers at the Mosinmi Depot supply information about products being piped and the oil thieves puncture the pipelines and siphon products into 50 litre plastic jerry cans, which are evacuated by boats to “markets” in both states. Some of the more established oil thieves have used money made from the illicit business to build houses
along the coast, which function as illegal jetties to receive the stolen products and also as sales outlets. Most of these houses or “depots” visited by National Mirror in the course of two weeks, have vast storage areas for the jerry cans within gated compounds where petrol is sold to members of the public who drive in and out pretending to be visitors. There, a 50-litre jerry can of petrol is sold for N3,000 instead of N4,850 pump price. National Mirror investigations showed that the illegal activities including siphoning of fuel from pipelines and transportation of stolen products to illegal “depots” were carried out mostly from midnight till about 6a.m.while sales are usually made in daytime. In Ikorodu and Arepo areas, thousands of litres of fuel are also stolen daily. It was difficult to ascertain the exact amount being stolen as at press time but NNPC officials confirmed that the losses were substantial. The perpetrators are able to conduct their illicit business unhindered because of the involvement of security agents who aid them, thereby giving tacit cover to the perpetrators. In Ikorodu, the Ishawo “depot”, which is the main supply point for all the other smuggling rings in the area, is about a kilometre
from the Police Divisional Headquarters, Owutu, Ikorodu. The trade also thrives in areas like Majidun, Bayewu and Ogolonto at points situated near established police units. National Mirror found that members of the Police Rapid Response Squad, RRS, are stationed right in front of the ADB Petrol Station, Owutu, which is at the beginning of Ifodo Road that leads into the Isawo village “depot.” But rather than work against the smuggling ring, the policemen engage in the trade by selling and extorting money from people carrying stolen products and even sell seized fuel to owners of
peace and good governance among its members. A communiqué issued at the end of the meeting stated that delegates from all the 36 states of the Federation and the Federal Capital Territory, FCT, were in attendance. Also present at the meeting were key leaders, including Chief Bode Ajewole, Mr. Godie Ikechi, Sen. Abubakar Mahdi, Murtala Shehu Yar’Adua, Dr. Etim Amba, Alhaji A. A. Matawallen Hadeija, Chief Ejiofor Onyia, Hon. Dubem Onyia, Dame Titi Ajanaku, Alhaji Bashiru Yusuf Ibrahim, Prince Tonye Princewill and Otunba Oluponle Ebo. The statement noted that the PDM was a national “consciousness movement,” pioneered by the
late Shehu Musa Yar’Adua for promotion of the core ideals of democracy; sustenance of and support for peaceful co-existence among the diverse groups in the country; bridge building among the diverse segments of the country; promotion of good governance and sustainable development of Nigeria. Goodwill messages were presented by eminent members of the movement from all the geo-political zones. Representatives of women and youths also delivered goodwill messages at the meeting. Contributions from the floor were also received on the way to strengthen the movement. Tributes were paid to the late Yar’Adua, the founder of the movement, for the supreme sacrifice he made
football viewing centres in the area. Motor mechanic workshop owners, who are also part of the oil theft ring chain buy products from the “depots” and in turn sell in small volumes to commercial motorcycle operators, otherwise known as “okada” riders. Investigations conducted in Takwa Bay, an island in Lagos waters, also revealed that policemen, naval officers and Immigration officers benefit from the trade as they set up illegal check points on the waterways and collect “tolls” from thieves and buyers of fuel stolen from vessels waiting to berth in Lagos ports. Each post is said to col-
lect a N50 toll on each 50-litre keg. While the policemen, immigration and Customs officers are said to limit their involvement to the “tolls” collection, some of the illegal oil traders told our correspondent that the naval officers participate in the siphoning of oil products from vessels they are supposed to guard. A smuggler, Toyin Arepa (not real name) oblivious of the identity of National Mirror reporter, boasted about his exploits in the trade and the full extent of the illicit business. “I started about eight years ago and I have made a lot of money from it. My man, I have realised my dream of becoming a mil-
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President Goodluck Jonathan (middle) arriving at the Meskel Square for the state funeral service of the late Prime Minister Meles Zenawi of Ethiopia, in Addis Ababa, yesterday.
Yar’Adua’s associates unite, plan for 2015 Kwande, met last week to resuscitate the Peoples Democratic Movement, PDM, and to plan ahead of the 2015 general elections. The meeting, tagged “A reunion/rejuvenation meeting” of the PDM, and which was held at the Shehu Yar’Adua Centre, Abuja, was to provide a forum for the reunion of old members of the movement and also bring on-board new members. The group also presented a road map for its immediate future activities, among which is a proposed national summit on “The state of the nation” scheduled to hold in the last quarter of 2012. The movement resolved to rekindle the spirit of national unity, promotion of
lionaire through this business. For you to succeed, just get your own boat. Then get a naval man to give you information and supplies. They always call us when they have market for us. We all come around in the night and before day break, we buy oil and disappear. Who day break meet, na him dem go take clean market floor. The Navy people have especially made pipes, which they always use to pump oil from the vessels into our own kegs in our boats,” Arepa told National Mirror. Another source said crew members of the oilladen vessels also sell fuel from their vessels waiting
in furtherance of unity and democracy in Nigeria as well as to other departed leaders of the movement. A source told National Mirror that the meeting was convened to resuscitate the once vibrant and revered political machinery of the late Yar’Adua ahead of the coming general elections. The source said that the new PDM was being anchored on the vibrancy and resourcefulness of younger politicians within the group to enhance the movement’s reinvigoration, complete re-engineering and to make it more acceptable to Nigerians. Sources said that Chief Bode Ajewole and Godie Ikechi, the group’s new chairman and secretary, might be assisted by PDM
leaders including one-time Foreign Affairs Minister of State and a PDP chieftain from Enugu State, Chief Dubem Onyia; son of the late Musa Yar’Adua and PDM founder, wife of the former Adamawa State governor, Alhaji Murtala Yar’Adua; Mrs. Zainab Boni Haruna, Alhaji Bashir Yusuf and Prince Tonye Princewill in the task of repositioning PDM. Meanwhile, PDP yesterday expressed shock at what it dubbed “continued incitement of the people” allegedly by former Head of State and the presidential candidate of the Congress for Progressive Change, CPC, in the 2011 general election, Maj.-Gen. Muhammadu Buhari (rtd), asking him not to think that Nigerians had forgotten how he
dealt with them when he ruled the country. The ruling party asked him to show statesmanship in his assessment of the contributions of the PDP-led government to the cause of democracy and good governance, stressing that under Buhari’s watch, several people were incarcerated in prison for simply expressing their views, as Buhari is doing today without being hounded. PDP expressed worry that Buhari could be telling lies and deceiving people just to score political points and advance his “selfish interests.” The party challenged any political party or alliance, to produce Buhari at the next presidential election and face another “shameful defeat.” CONTINUED ON PAGE 5>>
National Mirror www.nationalmirroronline.net
Monday, September 3, 2012
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Photo News
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
L-R: Wife of Oyo State Governor, Mrs Florence Ajimobi; Bayelsa State Governor, Seriake Dickson and Governor Abiola Ajimobi, during Dickson’s courtesy visit to Ibadan, yesterday.
L-R: Company Secretary, Red Star Express, Mrs. Frances Akpomuka; Chairman, Dr. Mohammed Kogana and Managing Director/Chief Executive Officer, Mr. Sule Umar Buchi, at the 19th Annual General Meeting of the company in Lagos, at the weekend.
L-R: Head of Corporate Communications, Dangote Group, Mr. Anthony Chiejina, Director-General of Standard Organisation of Nigeria (SON), Joseph Ikemefuna Odumodu and Chief Executive of Dangote Cement, Deijeet Ghai, during the SON management‘s visit to Dangote Cement, Ibese Plant, at the weekend.
L-R: Chief Imam of Ilorin, Sheikh Muhammad Bashir, Chief Imam of Lagos, Sheikh Garba Akinola (OON) and former Governor of Lagos State, Alhaji Lateef Jakande, during the presentation of an honorary award to Bashir at the 60th Anniversary of the Markaz, Arabic & Islamic Training Centre in Lagos, yesterday. PHOTO: OLUFEMI AJASA
National News
Cynthia: Lawyers fault PSN’s position on members’ trial K AYODE KETEFE AND WALE IGBINTADE
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ive prominent lawyers have faulted the position of the Pharmaceutical Society of Nigeria, PSN, that two pharmacists standing trial along with two accused for the murder of Miss Cynthia Ozokogu ought not to have been charged by the Lagos State Director of Public Prosecutions, DPP. The lawyers, who spoke with our correspondent yesterday, are a Lagos based-lawyer, Mr. Bamidele Aturu, the former Second National Vice-President of the Nigerian Bar Association, NBA, Mr. Adekunle Ojo, the Financial Secretary of the Ikeja branch of the association, Mr. Segun Fatoki, Messrs Nnaemeka Amaechina and Ojo Akinwale. They said the arraignment of the two pharmacists, Orji Osita and Maduakor Chukwunonso, was in order on the grounds that the offences levelled against them consisted of being accomplices to a murder, a first rate criminal offence. The PSN had, last Thurs-
day petitioned the Lagos DPP, asking her to properly review the Osogoku murder case to ensure that the pharmacists were not persecuted wrongly. The PSN President, Mr. Azubike Okwor, had at a media briefing last Thursday said since the suspects were not charged for the crime of rape or armed robbery, they should be handed over to the Pharmacists Council of Nigeria, PCN, to face disciplinary action for selling drugs without prescription. He said: “If the liability of the two pharmacists is limited to the sale or alleged sale of Rohypnol to clients they did not know and never collaborated in condemnable crime, then it is logical to believe that there might have been breaches of professional ethics. “The law provides that such matters are dealt with by PCN, a regulatory agency of the Federal Government. “We note with concern the arraignment of two young pharmacists, who were charged along with the confessed suspects for rape, armed robbery, murder and administering of
obnoxious substances.” Expressing contrary views, the lawyers said the Lagos State Ministry of Justice acted according to the law. Ojo said: “The view of the PSN is fraught with errors. The DPP’s position was right. If a professional is charged with any criminal offence before a court of law and the offence also breaches professional ethics, the court should hear and determine the criminal offence first. “It is analogous to the case of a lawyer charged to court for a criminal offence, the lawyer would be given the opportunity to prove his/her innocence first at the court of law before the professional body, Nigerian Bar Association, takes up the matter through its Disciplinary Committee. “In this instant case, even if the court frees the two suspects, the PSN can still take up the matter to see if they have breached the professional ethics, irrespective of whether or not they are legally liable. So I think the position of the PSN is faulty.” To Aturu, the life of a human being which was
snuffed out is more important. He said the criminal charge levelled against the pharmacists was in order, adding that the court would determine if there was any conspiracy between the pharmacists and the other two defendants In his own view, Fatoki said: “It is true that it could be an ethical offence to sell drugs to people without proper prescription. The PSN has the right to look into the matter and decide whether or not its members have breached the ethics of their profession. “But that could not take away the power of the court to try an offender brought before it. There is element of crime in the charge preferred against the pharmacists, so they should be given their opportunity to prove their innocence before the court before the question of professional misconduct arises. “If they are not guilty of the offences preferred against them, the court would free them, so the PSN should not say that the pharmacists should not be tried.”
Speaking in the same vein, Amaechina said while the PSN had the responsibility to discipline erring members, this would not stop their criminal prosecution. He said: “PSN has the right to discipline its erring members for professional misconduct. But that does not remove its members from facing criminal prosecution for any criminal wrong. As a lawyer, the NBA has the power to discipline me over professional misconduct but that does not remove my liability to stand trial for any criminal offence. So they can be prosecuted if there are facts showing that they are parts of the crime. So I think the DPP was right in recommending them for prosecution.’’ Amaechina added that the drugs they sold were not ‘Panadol,’ but drugs that put people to sleep and such drugs ought not to have been sold to just anybody and without prescription. He said there was a presumption that the two pharmacists had a case to answer, adding that the best the PSN could do was
to come to court and prove otherwise. Speaking on the issue, Akinwale said the charge filed by the DPP was in order. He cited the case of Conrad Murray, the American doctor convicted of the involuntary manslaughter of the pop superstar, Michael Jackson. According to him, the police, in line with Section 4 of the Police Act, have the power to prosecute anybody if they have reasonable suspicion that a crime has been committed. Akinwale, however, said that the PSN could still discipline its members for professional misconduct after their trial in court. The four suspects accused of complicity in Miss Osogoku’s murder had been arraigned before a Yaba Magistrates’ Court. The suspects are Okwumo Nwabufo, Ezeike Olisaeloka, and the two pharmacists Osita and Chukwunonso, who were accused of selling the drug, Rohypnol Flunitrapezam, to the first two suspects. They are standing trial on an eight-count of felony comprising the offences of conspiracy, robbery and murder.
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Monday, September 3, 2012
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How security agents aid oil thieves CONTINUED FROM PAGE 2
to discharge in Lagos. Expectedly, officials of the security agencies denied the involvement of their men in the illegal trade. Joachim Olumba, an
Assistant Comptroller of Immigrations, who is the spokesman for the outfit said that it will be ridiculous to associate his men with the trade as it is not like the Customs service that regulates what comes
into the market. “People used to say that Immigration officers bring in illegal aliens into the country, now they are saying that they are involved in illegal bunkering. It is ridiculous. How can they
be involved when the Customs are there?” he said.“If anybody gives Immigration officer money anywhere regarding that, it means the person just want to dash the officer money. Our officers are not involved in illegal
L-R: Major-General Ibrahim Haruna (rtd), Vice-President Namadi Sambo, former President Ibrahim Babangida and National Chairman of the Peoples Democratic Party, Alhaji Bamanga Tukur, during the 71st birthday celebration of Babangida in Abuja, at the weekend.
Yar’Adua’s associates unite, plan for 2015 CONTINUED FROM PAGE 2
In a statement issued by the National Publicity Secretary of the PDP, Chief Olisa Metuh, the party said that political differences notwithstanding, it expected Buhari, as an elder statesman and a former Head of State, to acknowledge the significant progress that Nigeria has made in internalising democratic culture since the return of democracy in 1999. Metuh said: “There is still room for improvement no doubt, but Nigeria under the PDP has recorded tremendous gains in terms of advancing the rule of law and the fundamental rights of Nigerians, indeed, in other indices of good governance which democracy is usually expected to guarantee.” “We recall that while on a visit to Kano last week, General Buhari had said of the PDP-led Federal Government: ‘under normal circumstances we are supposed to work strictly within the provisions of the constitution, but this is Nigeria and nothing is perfect and the only thing they have not tampered with between 1999 to date in Nigeria is the Holy Koran’. “We are shocked that
an elder statesman could paint such an ugly picture, a tissue of lies, of his dear nation just to advance his political fortunes. “We shudder that a former Head of State under whose watch freedom of expression landed many Nigerians in detention on account of his obnoxious decrees, and who now enjoys such freedom, is utterly ungrateful to the efforts of our great party in advancing the cause of democracy. “General Buhari, the evangelist of the rule of law, Nigerians wishes to know if unlawful incitement of the populace to violence and attack on the institutions of democracy is part of the rule of law? “Is the imposition that marked the congresses of the CPC in 2011, which is still hunting the party till date an act in rule of law? “We wish to advise General Buhari to concentrate on giving Nigerians his alternative ideas and plan of action to what the PDP has at present or even engage us in a public debate on the values of good governance. “We pray that his party or whatever alliance they are negotiating presents Buhari once more as a
presidential candidate so that Nigerians will make their choice. “However, we wish to remind the former Head of State that Nigerians are not fools and that they know what Nigeria was yesterday especially under regimes like his and what obtains today. “There is no doubt that even the blind can distinguish between the daylight it is today and the deep dark night it was hitherto,” PDP stressed. The PDP spokesman asked the leadership of CPC to approach it (PDP) for details if they do not understand the true meaning and principles of good and quality leadership and rule of law. “Today, criticisms, even destructive ones are hurled at the PDP-led Federal Government and no one is harassed because we uphold the inalienable rights of the people, which is at the heart of democracy. We throw our doors open to criticism so that we accommodate alternative views. “Today, the PDP loses elections and winners are sworn in and we do not use our incumbency at the centre to truncate the democratic wishes of the people. “However, in the states
held by the opposition parties, local elections are massively rigged as witnessed recently in Lagos and Ogun states and where we defy the odds to emerge victorious like in Imo State, machinery of government is used to frustrate the expressed wish of the people. “The rule of law if we must state further is that in our drive for transparency and accountability, some leaders of our party have been caught by the long arm of the law and we never obstructed the course of justice. “Do we need to add that the PDP-led Federal Government does have preference to the rule of law and that is why we enacted the Freedom of Information Act so that every Nigerian will not be in the dark as to how the nation is run, and so that they can be armed to demand for what is right.” “Must we also tell the leadership of the CPC that in our congresses and convention, deference to the rule of law is the word. “And that notwithstanding our size, we successfully manage dissenting views and establish strong leadership not dogged by factions like the CPC,” Metuh added.
bunkering activities at all,” he said emphatically. The Director of Information, Nigeria Navy, Commodore Kabir Aliu, said there have been no report of any naval officer being involved in illegal bunkering and that he has personally never heard of it. He, however, said any of the naval personnel caught in the act will be dealt with according to the service’s regulations. “We have not received any report to that effect, but you can be assured that the Nigerian Navy shall deal with any officer caught in such act,” Aliu told National Mirror. The Lagos State Police Public Relations Officer, PPRO, Ngozi Braide, said the command is not aware of any of its men being involved in the theft of the nation’s oil products. “The command is not aware and there have been no such complaints from any quarters. Disciplinary action shall be taken against any officer under the state command found culpable of the offence,” she said. Speaking with National Mirror on the issue, the NNPC spokesman, Mr. Fidel Pepple, said he is not aware if any staff of the corporation is involved in the vandalism of its pipelines but that it is common knowledge that the corporation’s pipelines and facilities are vandalised everyday. According to Pepple, NNPC’s pipelines, which run around the country are vandalised daily and the corporation have been warning about the consequences to everybody who cares to listen. He linked the NNPC pipelines fire outbreak last Friday at Arepo town in Ogun State to the activities of the vandals, which he said cost the country billions of naira every year. “We have placed jingles on radio, adverts on TV and we have been telling all Nigerians about the havoc the activities of these vandals have been wrecking on the economy and its attendant environmental dangers to the people and the country as a whole. “We have been work-
ing with security agencies in the country to curb these, but it behoves on all Nigerians to actually pick up the challenge and support us in this direction. I am telling you right now, that we cannot do it alone; it is the responsibility of all Nigerians to report cases of vandalism to security agencies and the traditional rulers in these communities should do everything within their power to discourage the illicit practice,” he said. On his part, the spokesman for the Department of Petroleum Resources, DPR, Mr. Paul Osu, surprisingly said he is not aware of any illegal vandalism or oil theft in Lagos and its environs. He, however, said that his agency will investigate any report of the illicit activity in any part of the country. “I am not aware of any act of vandalism on NNPC pipelines in any part of the country. But if we have any report to that effect, we shall fully investigate it,” he said. Meanwhile, the National Emergency Management Agency, NEMA, said yesterday that fire-fighters had extinguished fire from eight of the nine points where NNPC pipeline was vandalised at Arepo, Ogun State. The NEMA Information Officer, Mr. Ibrahim Farinloye, however, told the News Agency of Nigeria, NAN, yesterday in Arepo that the biggest point of the fire was still burning as of the time of filing this report. Farinloye said that the agency had redoubled efforts to extinguish the flame, following the deployment of more fire-fighters. The pipeline went up in flames when it was attacked by vandals on Wednesday evening. NAN correspondent, who has been monitoring the situation, reports that the rescue teams which included fire-fighters, were denied entry into the creek to recover dead bodies and extinguish the raging inferno. The attempt by the team was frustrated by sporadic shootings by the vandals.
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National Mirror Monday, September 3, 2012 www.nationalmirroronline.net
pipeline fire EFCC arrests Kaduna socialite NNPC extinguished –NEMA over N1bn pension fraud T
AYODELE O JO
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s part of the ongoing investigations into the multi-billion naira pension scam in the Office of the Head of Civil Service of the Federation, the Economic and Financial Crimes Commission (EFCC) has arrested a Kaduna-based socialite and businesswoman, Hajiya Fati Mazangari. She was arrested in connection with an alleged N1bn proceeds accrued to her over a period of time from the pension fraud. Mazangari is alleged to be the arrowhead of a powerful syndicate in Kaduna that specialises on scouting for account numbers from people of various backgrounds.
She parades herself as an oil and gas magnate. “The scouted account are communicated to officials of the Office of the Head of Service of the Federation Pension who credit the accounts monthly with pension remittances,” an official of the anti-graft agency told National Mirror. “More than N1bn had been paid into these fictitious pensions accounts. One of the account holders, a youth corper, had seven accounts and was receiving pension monthly! The payments were still being made despite the well publicised investigation into the Office of Head of Civil Service of the Federation pension. As late as July, there were still payments into some of the accounts,” the source added. It was learnt that the
Lamorde
amounts credited into the various accounts as pension are withdrawn by the account holders and the cash handed to Hajiya Mazangari, who allegedly runs the syndicate with the help of her sons. “One of her sons, Ahmed Mazangari, an IT Consultant is on the run. Her other son, a captain in the Nigerian Army uses his military influence to
intimidate the ghost pensioners to ensure they pay all remittances to Hajiya Mazangari,” the source said. The EFCC has been able to establish that part of the stolen pension fund was used to build the massive plaza in Kaduna known as Mazangari. When contacted, EFCC spokesman, Wilson Uwujaren confirmed the arrest to National Mirror. He warned members of the public to desist from offering their account numbers to pension fraudsters to prevent arrest and prosecution as accomplices. Mazangari has been released on bail after interrogation. The anti-graft agency is, however, holding on to her passport to prevent her from fleeing the country.
he National Emergency Management Agency (NEMA) said yesterday that firefighters had extinguished fire from eight of the nine points where NNPC pipeline was vandalised at Arepo, Ogun State. The NEMA Information Officer, Mr. Ibrahim Farinloye, told the News Agency of Nigeria (NAN) in Arepo that the biggest point of the fire was still burning as the time of filing this report. Farinloye said that the agency had redoubled efforts to extinguish the flame, following the deployment of more firefighters. NAN recalls that the pipeline went up in flames when it was attacked by vandals on Wednesday evening. NAN correspondent, who has been monitoring the situation, reports that the rescue teams which included firefighters were denied entry into the creek to recover dead bodies and extinguish the raging inferno. The attempt by the team was frustrated by sporadic shootings by the vandals. It was gathered that they (vandals) feared that bodies of their dead members, if recovered, might give them up to security agents and subsequently lead to the arrest of others.
Farinloye said that his team had to assure the vandals that they were armless. “We told them that we are not security agents but only working to safe children, women and others who use streams and other water bodies in the area. “We reminded them of the danger the bodies posed to the water and the environment, if allowed to decompose there. “Convinced of NEMA assurance, they pledged to cooperate with us for the duration of the exercise,’’ he said. He said that the vandals agreed that only those who were on humanitarian mission for the recovery of the bodies and putting off the fire would be allowed into the creek. According to him, they requested that NNPC private guards, journalists with camera and others would not be allowed into the scene or take any pictures from the area. The information officer said that NEMA had trained the fire-fighters on how to evacuate decomposed bodies from the water front. He said that the terrain was a difficult one but expressed optimism that the last point of the fire would be put out later today and that the agency would take the necessary measures to prevent any epidemic.
Hijacked British vessel rescued in Nigeria Safety Agency (NIMASA),
FRANCIS EZEM
S
Hajia Lami Tumaka, said that the vessel was navi-
ecurity agents at the weekend
rescued
According to her, the
a
flagged
agency, on the receipt of
vessel MT Energy Centu-
the signal, quickly in-
rion laden with petroleum
formed the Nigerian Navy
products from suspected
and the Airforce through
pirates.
its intelligence platforms
British
The suspects attacked
on the position of the ves-
the vessel in the Togolese
sel Sequel to the discovery
waters.
of the position of the vesin
sel, NIMASA requested for
charge of Corporate Af-
patrol support which was
fairs of Nigerian Mari-
expeditiously given by the
time Administration and
Nigerian Airforce.
The objective is to create thousands of jobs by helping winners to strengthen and expand existing businesses as well as turn innovative ideas into solid businesses. Expected at the event today are youth groups, reputable women entrepreneurs, ministers and other top government officials.
force deployed its mari-
Deputy
Members of Batch 9 group of Quick Response, Counter Terrorism and Insurgency Centre, demonstrating during their graduation ceremony at Jaji in Kaduna State, at the weekend.
FG launches YOUWIN today
P
resident Goodluck Jonathan will today launch the second edition of Youth Enterprise with Innovation (YOUWIN). YOUWIN is the innovative business plan competition for talented youth entrepreneurs as part of
the ongoing agenda to address unemployment in the country. A statement issued yesterday by the Ministry of Finance at the Banquet Hall of the State House indicated that YOUWIN was designed exclusively for young fe-
male entrepreneurs between the ages of 18 and 45. It will be recalled that the first phase of the competition, which ended recentl,y produced 1,200 winners from across the country following a rigorous and
exciting contest. Under the YOUWIN competition, rewards for winners included prizes and grants of up to N10 million, technical support including stateof-the-art websites and strategic guidance by experienced mentors.
gating towards Nigeria.
Director
She said that the Airtime patrol team, led by Air Commodore Atiko, for necessary air patrol assistance. It was also gathered that the NIMASA patrol team, led by Capt. Warredi Enisuoh, joined the Airforce squad to rescue the vessel from the suspects.
National Mirror www.nationalmirroronline.net
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Monday, September 3, 2012
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Traffic law: Give us time to relocate, operators tell Lagos govt MURITALA AYINLA
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ollowing the planned enforcement of the Lagos Traffic Law by the state government, commercial motorcycle operators in the state have appealed to the state government to extend the enforcement date to enable them have more resources to relocate their businesses and families to other states. The Lagos State government had, last week, at a stakeholders’ meeting an-
nounced plan to commence enforcement of the new road traffic law, having gazetted it. But, transport operators in the state are not ready to comply with some of the provisions of the law which they described as ‘too draconian’ to comply with. Speaking at another forum held at the Lagos State Ministry of Transportation, at the weekend, to further sensitise the various unions about the law, stakeholders solicited for amendment of the law,
saying the penalties prescribed by the law were too severe. They, however, pleaded for the extension of the enforcement date to give room for some of their members to get enough money that will enable them and their families relocate or engage in other vocations. According to the Chairman of the Motorcycle Transport Union of Nigeria (MTUN), Mr. Paul Ugo, the 475 routes that the new law prohibits his members from plying are enough to send them out of the state.
His words: “We are aware of the law. We have been trying to sensitise our people about it, but our members said they can no longer operate in the state under this law. They are appealing to the state government to give them time to relocate their families from the state.” Another operator who also spoke with National Mirror said the law was to disengage them from the trade, describing the law as a tactical ban on commercial motorcyclists in the state.
Allaying the fear of the operators, Lagos State Commissioner for Transportation, Comrade Kayode Opeifa, who presided over the meeting, told the operators that the state government was not interested in stampeding people out of their business and the state. The commissioner, who added that the enforcement of the traffic law would soon commence, called for voluntary compliance to ensure safety and security of lives and property in the state.
Opeifa added: “We are determined and we are going to be decisive. We have not banned commercial motorcycles. We have only restricted their movement. We have not commenced enforcement of the law yet. “What we are doing right now is to sensitise the residents and stakeholders. We had a special stakeholders’ forum on the traffic law organised by the Ministry of Transportation and Ministry of Rural Development on Thursday and another one with you leaders of the various unions.”
Oyerinde’s murder: Police, SSS fight, a national embarrassment –ACN
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Policemen taking away a motorbike rider that was alleged to have attempted robbing his passenger on Lagos Island, yesterday.
he Action Congress of Nigeria (ACN) has described as a national embarrassment the shameful bickering and power tussle between the Nigeria Police and the State Security Services (SSS) over investigations into the killing of Comrade Olaitan Oyerinde, the Principal Private Secretary to Governor Adams Oshiomhole of Edo State. In a statement issued in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, the party decried a situation in which one
PHOTO: YINKA ADEPARUSI
NICON Insurance, FRSC sensitise youths on road safety MARCUS FATUNMOLE ABUJA
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s the ‘ember’ months crept in, NICON Insurance Limited, the Federal Ministry of Youth Development and the Federal Road Safety Corps (FRSC) have called on Nigerian youth to avoid all acts that could lead to road disasters across the country. This charge was given at the Federal Road Safety Corps (FRSC) monthly walking and jogging exercise over the weekend, in Abuja.
Commending the FRSC on its efforts in Road Traffic Crashes (RTC) prevention and youth safety education in the nation’s institutions of learning, Managing Director of NICON Insurance Limited, MR. Emmanuel Akinmolu Jegede called on Nigerian youth to take road safety more seriously. The Managing Director was represented at the occasion by the General Manager (Marketing and Strategy), Mr. Steve Ajudua. According to him, we all live in the world of risks, noting that there are vari-
ous other risks which we might not be aware of until the occurrence of such risks. He stressed that the high frequency of accidents such as air, fire damage in homes and factories, road accidents and boat mishaps with the resultant loss of lives and economic losses had confirmed that though accidents could be avoided or minimized by other methods, insurance, he maintained, still remained the most veritable mechanism of risk management. “Consequently, NICON
has introduced Travellers Personal Accident Insurance Scheme (TIPAS) to cover travelers among which the youth constitute the majority. TIPAS covers both the passengers, drivers and conductors. It provides lump sum compensation for death, permanent disability and medical expenses as a result of road traffic accidents. The premium payable by passengers is usually between N50 and N100 per person per trip. “Tickets evidencing the insurance contract to the passengers are printed and supplied by NICON Insurance Limited to transporters
operating the scheme. Manifest is very crucial for claims payment as only passengers whose names appear on the manifest will be deemed covered by the policy in the event of accident,” Jegede stated. Speaking on the strides of the company targeted at youth development, he said: “NICON Insurance Limited prides itself as far as youth development is concerned as being ahead of the pack. We are presently handling the Students’ Welfare Insurance Scheme of some secondary and tertiary institutions in Nigeria.”
discover short and long sightedness of drivers.” In a related development, the FRSC has concluded plans to commence compulsory medical test for all commercial drivers in the country, which is carried out at accredited hospitals.
The corps has introduced routine medical test for commercial drivers as part of measures to ensure proper certification of medical status of operators of commercial vehicles, including drivers of tankers, trailers and other heavy duty vehicles.
Driver’s licence: Automated free eye test begins
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he Federal Road Safety Corps (FRSC) has commenced a mandatory nationwide automated free eye test for driver’s licence applicants at over 50 processing centres, spread across the country. According to the corps, this initiative
which forms part of its resolve to enhance safety of road users is designed to give room for on-the-spot vision/ screening examination and sight correction among drivers as part of the corps’ strategies towards road crash reduction in Nigeria.
Similarly, the corps said “one of the unique advantages of the Optec 1000 vision testing machine is the ability to detect if someone can recognise colours and side views including visual field; to replace the manual chart previously in use, which can only
week after the Nigerian Police had paraded some suspects in relation to the murder, the SSS paraded yet another group of suspects for the same crime. The party recalled that, earlier, the show of shame had kicked off with allegations in the media that the SSS was recycling suspects, as the suspects being paraded for the murder of Oyerinde had earlier been paraded in the same clothes for another murder. However, rather than respond constructively and intelligently to this grave allegation, the SSS went on the attack, arguing that the suspects they paraded in the two unrelated murder cases were only coincidentally wearing identical dresses. “Why are our security forces always in a hurry to parade suspects who under the law are presumed innocent? Why can’t the SSS focus on intelligence gathering and national security? What is the business of the SSS parading armed robbery suspects and pursuing mundane matters when terrorism is taking over the country? “And finally, what is the interest of the SSS in this particular case even as the riddle surrounding the murder of Oyerinde remains unresolved in spite of the awkward and embarrassing flurry of mudslinging between the two security agencies. According to the party, the way out of this national embarrassment is for each of these security agencies to stick to its statutory roles to forestall an impending intelligence disaster.
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South-West
Monday, September 3, 2012
Aregbesola awards N3.3bn road contracts WALE FOLARIN OSOGBO
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etermined to ensure good road network in Osun State, the administration of Governor Rauf Aregbesola has signed four different road contracts worth N3.3bn with an indigenous construction firm, the Perfect Structure Limited. The Special Adviser to the governor on Works and Transport, Mr. Oladepo Amudah, who signed the contract on behalf of the government, said the contractor was ready to finance the project on behalf of the government. This is as the Commission of Inquiry set up by the governor to investigate the circumstances surrounding the procurement of N18.38bn loan from the United Bank for Africa, UBA, by the im-
•N18.38bn loan: Panel begins sitting today
mediate past administration in the state would begin public hearing today and end on September 14. But speaking on the road projects, Amudah said they would be completed within 18 months while the repayment duration is 36 months. He disclosed that the contract included the spot-patching and rehabilitation of the 23.2km Ede (Army Barracks) – Ara-Ejigbo Road which would gulp N140,708.02, the 30.7km Ede (Oke Haola) – Awo -Iragberi - Ejigbo OYSB Road with a contract sum of N325,648,909.89, the 35.2km Iwo - Ejigbo Road with a contract sum of N1,681,138,569.50 and reconstruction of 14.4km of Ejigbo - Aiye - Oguro OYSB (Alase Village) Road worth N971,016,512.53. He stressed that the pres-
ent administration had taken the giant step to take the dividends of democracy to every nook and cranny of the state. The special adviser added that the roads, when completed, would assist in facilitating the socio-economic development of the state. Amudah also pointed out that financing the project by the contractor would also help the government to embark on other projects and to plan repayment without stress. He, therefore, enjoined the people of the state to exercise patience, adding that the ongoing road projects across the state were an indication that the present administration was committed to leaving good legacies in the state. Amudah also appealed to
the contractor to deliver on time and according to the specification. Meanwhile, the Chairman of the Commission of Inquiry investigating the N18.38bn loan, Prof. Femi Odekunle, said that preliminary hearing had been conducted with affected government officials and contractors for classification in relation to the transaction. He also said that as required by the applicable law of the state, some banks and other persons involved had been summoned to appear before the commission today. Describing members of the committee as professionals and men of high integrity, Odekunle assured those invited of fair hearing and maximum security of their lives and property.
National Mirror www.nationalmirroronline.net
Terrorists may attack Lagos soon, Prophet warns MESHACK IDEHEN
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he General Overseer of Jesus is Lord Bible and Prayer Ministry, Lagos, Prophet Sunday Babalola Jinadu, has said Lagosians should not be carried away with the belief that insecurity in certain parts of the country could not reach Lagos. He said unless serious prayers were offered to scuttle the plans of some violence-minded individuals and groups, some terrorists had already decided to hit Lagos. The prophet added that preparations were in top gear to enable the group actualise its aim. Jinadu said the mere mention of the name of the Islamic sect would send shivers down the spines of many people because of the many bomb attacks the sect had launched since 2009. He said because the sect had attacked ‘prepared’ organisations like the police headquarters
and the United Nations office in Abuja, among others, the residents of Lagos must not be caught unawares. Jinadu said though the Federal Government had tried everything it could to curb the activities of the sect to no avail, the terrorist group might soon attack Lagos, which would shake Nigeria. He said: “The Lord showed me that members of Boko Haram sect have already made up their minds to hit Lagos and preparations are in top gear to actualise this. To be forewarned is to be forearmed. The only thing that can stop them is prayers.”
Governor Fashola
Oyo set to pay pension increases KEMI OLAITAN IBADAN
O L-R: GOC, 2 Division, Maj.-Gen. Mohammed Abubakar; Garrison Commander, 2 Division, Col. Thomas Eze and Oyo State Coordinator of NYSC, Pastor Olanipekun Alao, during a visit to the GOC in Ibadan, at the weekend.
Unpaid salaries: NULGE gives Ogun seven-day ultimatum FEMI OYEWESO ABEOKUTA
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orkers in the 20 local government areas of Ogun State have issued a seven-day ultimatum to the state government to pay their salary arrears or face industrial action. The workers, under the National Union of Local Government Employees, NULGE, asked Governor Ibikun Amosun to within the next seven days, thrash out issues bordering on the “total shifting of the 100 per cent payment of primary school teachers’ salaries, leave bonuses, pensions and other charges on local government councils
which is now causing delay/irregular payment of salaries of local government workers as at when due”. In a letter signed by the state Secretary of NULGE, Mr. Bamidele Oyeniyan, the union said the fresh ultimatum followed the expiration of the 14-day ultimatum earlier given to the Ogun State Government to settle the salaries owed them which lapsed last Tuesday. Efforts to get the Commissioner for Local Government and Chieftaincy Affairs, Muyiwa Oladipo, to respond to the strike threat proved abortive as his mobile phone was switched off.
But in the letter with reference: NULGE/ OGS.612.Vol.11/262, dated August 31, and addressed to Amosun, the union claimed that workers in more than 11 councils were being owed salaries while those working in the others had been receiving less than half of their monthly pay. They added that many of the councils were only surviving on overdraft facilities from banks owing to poor funding. The council workers therefore warned that they had resolved to embark on strike from Tuesday next week if the government failed to address their grievances. The workers, however,
expressed regret that the financial burden placed on the councils by the state government had crippled the local government system in Ogun State. The letter reads in part: “There is no gainsaying the fact that all this misfortune bestowed upon the local government has totally crippled the local government system of administration in Ogun State. “In addition, it has turned an average local government worker to a chronic debtor, poor public servant and hopeless fellow. We are tired of monthly salary agitation. A final solution should be provided.”
yo State Government has expressed its determination to commence the payment of six per cent and 15 per cent increases to all pensioners in the state. The Chairman of the State Pensions Board, Alhaji Y. A. Akande, gave the assurance in Ibadan, at the weekend, even as the state branch of the Nigeria Union of Pensioners, NUP, lauded Governor Abiola Ajimobi for his commitment to the welfare of retirees. Akande said government had so far paid about N1bn in settling the 142 per cent arrears for 4,660 pensioners, adding that the payment would continue as N106,239,633.04 was being released every month towards the payment. The chairman, who also said that an average of N300,000,000 was being released every month to pay the monthly pension allowances, commended the introduction of e-payment system for the payment of pension allowance by Aji-
mobi. This, according to Akande, has reduced fraud to the barest minimum. He said: “The Oyo State Pensions Board wishes to corroborate the commissioner for finance’s statement concerning the kind disposition of Governor Ajimobi in alleviating the untold hardship and suffering to which the last administration subjected the pensioners in Oyo State. “The board emphatically wishes to say that before the advent of the Ajimobi administration, the pensioners used to come to the secretariat to collect their monthly pension allowance and go back home disappointed. “While waiting to collect pension allowance that was not made available by the past administration, some pensioners got exhausted, collapsed or even died in the process.’’ The NUP, in a statement issued by its state Chairman and Secretary, Alhaji Lateef Adegoke and Mr. Olusegun Abatan, described the governor as a friend of pensioners in the state.
National Mirror www.nationalmirroronline.net
South-West
Monday, September 3, 2012
9
Our target is to win SouthWest, says Jonathan WALE FOLARIN OSOGBO
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L-R: Director, Legal Services, Lagos State Management Authority (LASMA), Mrs. Margaret Adewale; Executive Director, Lagbus, Mr. Yemi Odubela and Legal Officer, Lagbus, Mr. Emeka Oquo, during a training and awareness campaign for bus rapid transport captains on the new Lagos, at the weekend.
Mimiko•Flays is aN5, traitor –Tinubu 000 bank note
OLUSEGUN KOIKI LONDON
economy is on reverse, it ational leader of is a yoyo economy. This the Action Con- government is not serious; gress of Nigeria they don’t know what they (ACN), Asiwaju Bola Ti- are doing.” nubu, has described Ondo Speaking on his grouse State Governor Olusegun with Governor Mimiko, Mimiko as a betrayer, just Tinubu said that before he as he vowed that ACN was declared the winner would win the forthcom- of the 2007 governorship in ing governorship poll in the 2008 by the Court of Appeal, state. Mimiko did promise to join Tinubu also said the the ACN within 30 days of planned introduction of N5, his swearing-in, but rather 000 banknote by the Cen- than fulfilling his promise, tral Bank of Nigeria (CBN) he turned his back on the Governor, Mallam Lamido party that fought for his Sanusi, was an indication success at the court. of devaluation, stressing He said: “Mimiko is a that the government had not betrayer. We are going to managed the country’s re- defeat him without rigging. sources well over the years. He is a betrayer like he has The former Lagos State betrayed others in the past. governor, who was on his He got into Chief Adebayo way to United States (US) Adefarati’s cabinet in 1999, for the Democratic Con- betrayed him and moved vention, spoke with some to the Peoples Democratic Nigerian journalists at the Party (PDP). He later beweekend in London, United trayed Olusegun Agagu Kingdom. and came back. He said: “It is an indica“He promised that withtion of devaluation. Sanusi in 30 days of his declaration is a banker for the entire when we were fighting the nation. He keeps eye on case in the court, he will the economy and comes up come to ACN and after bewith policies. The problem ing sworn-in, he started dilthat we have is that we are lydallying. That is his trait. spending what we don’t He is not principled; a perhave. We are not managing son with character would our resources very well. not do that, definitely.” “If you are losing over On the opposition of $6bn in oil revenue to theft, ACN by the Afenifere chiefif you are losing $6bn to tain, Chief Ayo Adebanjo, $10bn to subsidy theft, and if you are spending 75 per cent of your budget to service recurrent expenditure and you are borrowing for no long term activities and development that will sustain the nation on the long term, you get devaluation and you are seeing the effect of devaluation. The Tinubu
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and some of the group’s leaders, Tinubu said the leaders had tried vehemently in the past to work against the success of his party, but without success. He accused them of destroying the Alliance for Democracy (AD) for PDP be-
fore forming the Progressive Action Congress (PAC) and later the Democratic Peoples Alliance (DPA). “They came under DPA, they failed, they went to bed with Gbenga Daniel in Ogun State, and they failed. They are still going to fail. I don’t see what is Afenifere in that,” he said.
resident Goodluck Jonathan has said that the Peoples Democratic Party (PDP) would soon win back all the six states in the South-West. The President spoke at the weekend in Osogbo, the Osun State capital, through his Special Adviser on Inter Party Affairs, Senator Ben Obi, at a civic reception organised by the state chapter of PDP for its National Secretary, Prince Olagunsoye Oyinlola. Regretting the loss of the South-West to the opposition party, the President said that PDP had all it takes to rule the region in the next general election. According to him, the PDP have enough human resources and capable members in the South-West as well as knowledgeable individuals in other parts of the country. He used the occasion to canvass for support for PDP in its bid to return to power in the South-West, even as
he urged members of the party to embrace unity and work assiduously towards its success. Speaking on the occasion, Oyinlola thanked the leadership of the party for the honour done him. He promised to be a good ambassador of the state. According to him, it was high time members rallied round the leaders of the party in order to ensure the full restoration of its lost glory in no distant time. Also, the Osun State Chairman of PDP, Alhaji Ganiyu Olaoluwa, said that the party considered it imperative to honour Oyinlola because of his contributions to the success of the party both at the state and national levels. Stressing that PDP was positioning itself towards a successful outing in the next general election, Olaoluwa urged members to unite and ensure that the party comes back to political limelight in the state and other parts of the South-West.
Why ACN can’t win Ondo governorship election –Segun Ojo HAKEEM GBADAMOSI
•NSCDC to deploy 3,000 officers for hitch-free poll
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not have picked Akeredolu as the ACN candidate. “The choice of Rotimi Akeredolu is morally wrong. He does not justify it.” Ojo, however, said that all members of his group, the Sunshine Rainbow Coalition, had moved out of the ACN to join the ruling Labour Party (LP). He said: “What we are doing now is a collaborative effort with Mimiko to win the forthcoming election. We have taken decision to collaborate with the Labour Party to ensure Mimiko’s victory. “Since we have declared our support for Mimiko, we will make sure we participate in the campaign processes from the ward, local govern-
ment and state levels.” The former commissioner pointed out that the people would not vote for someone not known to them, adding: “As members of ACN, we were on the field, we had worked and mobilised the people for the party. We also see other aspirants on the field working. If we were to rate all the aspirants in what they have done in the various local governments, Akeredolu was the least. He never toured any local government and that is why they are taking him to the wards to introduce him to the people. This shows that he is not known. The selection process is faulty. If he knows the wards, he should
ABIODUN NEJO
administration. Ajayi, in a statement at the weekend in Ado Ekiti, urged local government workers due for the 2011 upgrade to prepare for and write the promotion examination billed for October. He said the administration of Governor Kayode Fayemi was committed to giving workers their due, adding that the examination was targeted at ensuring professional competence and improving the perfor-
AKURE
he leadership of the Action Congress of Nigeria (ACN) has been accused of shattering the dream of the party in winning the October 20 governorship election in Ondo State. Making this observation was a former governorship aspirant on the ACN platform in the state, Mr. Segun Ojo, who said at the weekend that the choice of the party standard bearer, Mr. Rotimi Akeredolu (SAN), had caused disaffection among members. Stressing that ACN is losing relevance in Ondo State daily, the former commissioner for finance said that the people of the state are politically sophisticated to a level where they would never allow any candidate posted from outside to govern them. He said: “ACN cannot appoint district officer for the people of Ondo State. If they have succeeded with it in Osun, Oyo, Ogun and Ekiti states, which I know they will regret not so long, they cannot do it in Ondo State. We are special specie. “Senator Bola Tinubu himself has endorsed Governor Olusegun Mimiko for second term. If not, he would
Ekiti promotes 2,100 LG workers ADO EKITI
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he Ekiti State Government has promoted 2,100 local government workers and as well confirmed the appointment of 2,500 others. Chairman of the State Local Government Service Commission, Chief Aderemi Ajayi, said the promotions and confirmations, which were for 2009 and 2010, were inherited from the previous
have started the programme of campaigns now.” Ojo said it would be difficult to sell Akeredolu because those who are supposed to do that have moved to either the LP or the Peoples Democratic Party (PDP). He said: “Those who supposed to sell the candidature of the candidate have abandoned the party for those who think their word is law. Hon. Segun Ojo has moved out his members; Dr Olu Agunloye has officially joined LP, while Saka Lawal has joined the PDP. Prof Boroffice’s supporters had left him in ACN; he is the only one there because of his position in the Senate.”
mance of the workforce. According to him, the exercise is in line with Section C of the Local Government Service Commission rules. Ajayi added that possession of professional qualifications from the Institute of Chartered Accountants of Nigeria (ICAN) or Association of National Accountants of Nigeria (ANAN) would be a prerequisite for the next promotion and appointment of accountants in the state.
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South East
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
Northern govs reneged on state police –Orji GEORGE OPARA ABIA
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bia State Governor, Theodore Orji, yesterday said he was surprised that his colleague governors from the north reneged on the agreement reached by all the governors in the Governors’ Forum that
they would, as a matter of unanimity, support the agitation for the creation of state police across the country. Orji expressed this concern while answering questions from journalists on his return from vacation from the United States of America. His words: “On the is-
sue of state police, we took a decision at the Governors’ Forum before I left for vacation. It was a collective decision that all the governors will support the issue of state police. “But while I was out there, I heard different stories from our colleagues in the north who went and
organised another meeting and said they don’t want state police.” The governor maintained that as far as the Governors’ Forum was concerned, he was there when the decision was taken and that he stood by the decision. He added that the decision was a general decision and has
not been reversed. Meanwhile, Governor Orji said his overseas trip has attracted viable investors and investments, among which was the building of an ultra-modern international hospital at Obeaku in Ukwa West council area which he assured that the contractors would soon come to
put finishing touches on the agreement and subsequently commence work.
Orji
Abia governor denies buying ship GEORGE OPARA ABIA
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resh from his month-long annual vacation in the United States, Abia State Governor, Theodore Orji, has debunked speculations that his effort at investing in a shipping business has hit the rock. Orji was allegedly duped of huge sums of money he intended to use in acquiring a ship. Addressing citizens of the state, who swarmed the Banquet Hall of Government House to accord him a rousing reception yesterday, the governor said he has never been business inclined and had never made any move to buy a ship. During the governor’s absence, there were reports of how the governor had allegedly invested in the shipping business only for his business partners to disappear with the governor’s money put variously at between N20bn and N58bn. Addressing the citizens that had come to welcome him, Orji said he laughed
himself hoarse when the news got to him. “While we were away, we heard both the good and bad things that were happening at home. I also heard that I went to buy a ship. I laughed my head off when I heard that story and I knew that some people were still suffering from hallucination. “If you buy a ship and give it to me free of charge, I will reject it. I am not a business man and can never be. That I am a governor cannot intoxicate me,” he said. “I am not here (in governance) to acquire the whole world. The world is a stage. You come and play your part and you are judged by the role you played. Whatever they are saying does not mean anything to us provided our conscience is guiding us,” the governor noted. He enjoined the people to trust in him, assuring that his priority was the security and welfare of the people as well as development of the state.
Two die in Suleja petrol tanker inferno PRISCILLA DENNIS MINNA
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wo persons including a woman, Mallama Halima Sadiya and Ibrahim, identified as the conductor of the vehicle lost their lives, when a petrol tanker caught fire in Maje, Suleja Local Government area of Niger State. It was gathered that the inferno, which started when the tanker was trying to park at about 8.00 am in the morning, close to the house of one Alhaji Da-
hiru Ladan, where the dead woman was said to be visiting, went into flame. The fire, sources said burnt the house, the visiting Halima and the conductor of the petrol tanker to death. While two other persons in the house of Alhaji Ladan, involved in the incident were also said to have sustained various degrees of burns and were rushed to the Suleja General Hospital and are currently receiving medical attention in the intensive care unit of the hospital.
L-R: Permanent Secretary, Federal Ministry of Transport, Engr. Nebolisa Emordi; Minister of Transport, Senator Idris Umar and Chairman, Inter-Bau Construction Company, Mr. Nath Okecukwu, during the official commissioning of Onitsha River Port complex in Onitsha at the weekend.
14 out of 27 deported Nigerians not culpable –Police OMEIZA AJAYI ABUJA
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gainst last month’s deportation of 27 Nigerians by Spanish authorities, the Nigeria Police yesterday cleared 14 of the deportees of any wrongdoing, explaining that only 13 were found to have contravened Spanish laws.
Accordingly, the police said after a thorough investigation, it has handed over those found culpable to the relevant security agencies in the country. Spokesman of the Force, Frank Mba, recalled in a statement yesterday that the Nigeria Police Force had, on August 10, 2012, at the international wing of the Murtala Mohammed
Prosecutors want strict conditions for persons standing surety
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ome prosecutors have called for the application of strict criteria for anyone standing surety for accused persons. In separate interviews with the News Agency of Nigeria (NAN) in Lagos yesterday, the prosecutors stressed the need for thorough scrutiny of sureties before acceptance. The call came against the background of the increasing rate of sharp practices by sureties who give fake residential addresses and other credentials to courts.
NAN reports that sureties often pledge, before a judge, to produce a defendant when needed and agree to forfeit a sum or be prosecuted, if the defendant jumps bail. Mr. Philip Ugbodu, a Yaba Magistrate’s Court prosecutor, told NAN that verification of the addresses of sureties was very important, noting that sureties failed to disclose their true residential addresses often times. He said on several occasions he had gone to the addresses given by sureties only to discover they were fake.
International Airport, Ikeja - Lagos, received 27 Nigerians deported from Madrid, Spain, for various criminal offences, ranging from armed robbery, drug trafficking, forgery and illegal migration. “The deportees, who arrived aboard a chartered Spanish Airline flight, were received at the Airport at about 07.30 am, by officers from the INTERPOL National Central Bureau, Lagos. “This followed a directive issued on August 9, 2012, by the office of the Inspector-General of Police. “They were immediately transferred to the office of the bureau, where they were screened to determine their culpability in the allegations against them,” Mba said. He disclosed that at the end of a “meticulous and painstaking screening exercise” conducted by a combined team of officers from the Police, SSS, NDLEA and the Nigerian Immigration Service, 14 of the deportees were found not culpable for any of the alleged
crimes, “just as no other credible reason was found to have been proffered by the Spanish authorities for their deportation. They were subsequently, unconditionally released to their relations on bail.” He added that “the other incriminated 13 deportees were handed-over to relevant agencies, based on the nature of their alleged criminal involvement.” According to Mba, eight of the deportees were transferred to the Nigeria Immigration Service in Lagos State and three to the NDLEA office in Ikoyi, Lagos. The other two have been handed over to the Nigeria Police, Federal SAARS, FCID-Annex. Mba said those not found culpable have been released to their relatives. “While assuring the deportees that due process of law will strictly be followed in handling their cases, the IGP advised Nigerians in Diaspora to be mindful of their activities and respect the laws and culture of their host countries.”
National Mirror www.nationalmirroronline.net
South South
Monday, September 3, 2012
11
Okada ban will encourage crime, groups tell Dickson EMMA GBEMUDU YENAGOA
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ome civil society organisations yesterday lambasted Governor Seriake Dickson of Bayelsa State for banning commercial motorcyclists popularly called Okada riders in Yenagoa, the state capital. The organisations faulted the new transport scheme introduced by the state government, noting that the scheme might not
stand the test of time like the previous ones introduced by past administrations. In an interview with our correspondent in Yenagoa, the immediate past state Secretary of Civil Liberties Organisation, CLO, Alagoa Morris, said the new transport scheme was a welcome decision by government. He, however, said the ban on Okada riders was hasty, adding that the government did not give consideration to the comfort and access
of the residents of the state capital to ease transportation. Morris reasoned that the governor had failed to embark on a proper study of the taxi schemes under the administrations of Goodluck Jonathan and Diepreye Alamieyeseigha which collapsed. He said: “If the taxies are not handed over to the former Okada operators to encourage employment, then we should be ready for more crime. While the
ban may not be out of order, some reasons why some people in the state opposed the move in the past remain the same. The state government has launched the scheme, but there is no difference between it and others in the past. “From Alamieyeseigha’s administration till date, it has become a routine and cheap political point. Where were the vehicles provided by past administrations? Unless this government is doing a new and spectacular
scheme, we might regret not having Okada on the roads of Yenagoa. Why is it that the poor are always the target of the elite?” In the same vein, the National Coordinator of Ijaw Peoples Development Initiatives, IPDI, Austin Obodo, said Dickson had abandoned the needed socio-economic policies of human capital development and hastily placed a ban on commercial motorcycles to score cheap political point. Obodo said Dickson’s ad-
ministration should initiate policies and programmes that would impact on the lives of the people, not leaving the most important policies and embarking on frivolities. He said: “Dickson should go for policies that will impact and promote his administration such as the provision of well-equipped skill acquisition centres with quality staff in the eight local government councils, affordable health services, education and others.”
Abduction: Police invite Bayelsa monarch’s wife EMMA GBEMUDU YENAGOA
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ndications emerged yesterday that the police in Bayelsa State have invited the wife of the kidnapped monarch, Mrs. Evelyn Seiba, for interrogation to enable them track down the abductors. The non-release of the paramount ruler of Okordia clan in Yenagoa Local Government by his abductors for about 10 days is creating anxiety among his family members and the clan. Some policemen were said to have visited the residence of King Richard Seiba at Ikarama, a couple of days ago, and took the monarch’s wife to the state police headquarters for questioning. Investigation showed that the kidnappers had called the first son of the traditional ruler, Glory Seiba, on his mobile phone a few days ago, telling him to come to a bush at Kaiama in Kolokuma/Opokuma Local Government Area of the state to give them an unspecified amount of money.
It was gathered that Glory went to the location with some soldiers, but sensing danger, the kidnappers dodged the traditional ruler’s son to avoid arrest. The 70-year-old King Seiba was abducted by gunmen at his Ikarama residence about 2am on August 25. Barely four days after his abduction, the kidnappers established contact with the king’s wife, demanding N30m ransom. During a phone negotiation with the king’s family, the kidnappers reduced the ransom to N15m. When contacted yesterday, the state Police Public Relations Officer, DSP Fidelis Odunna, confirmed the invitation of the king’s wife by the police. He, however, said the monarch’s wife was not under interrogation, but was assisting the police in their investigations. Odunna promised that the kidnappers would soon be tracked down to free the traditional ruler. He said: “They are trying to be smart, but we are smarter than them. We will soon track them.”
The alleged suspected gun-running and illegal refineries operators arrested by men of 3 Battalion, Effurun Barracks at Ajudaibo community in Warri South West Local Government Area of Delta State, yesterday.
Subscribers cry out over poor GSM services in Edo SEBASTINE EBHUOMHAN BENIN
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ubscribers of Global System for Mobile, GSM, Communications have appealed to the Federal Government and its supervising agencies to immediately stop the continuous rip-off from poor service providers. The appeal followed the collapse of the services of MTN Nigeria in Edo State in the last two weeks. With this, the company
has failed to fulfil its obligations to subscribers even as it has continued to bill them when such services were, at best, rendered poorly. While service in the telecommunication sector, for which the Federal Government has continued to beat its chest, has been one of the costliest and poorest globally, MTN services have been the most unreliable in Edo State in the last two weeks. The problem is not limited to telephone call only, which either returns net-
No health risks from telecom masts, towers, NCC insists CHINEDUM EMEANA PORT HARCOURT
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he Nigerian Communications Commission, NCC, has said that radiation emanating from telecommunication masts and towers being deployed by GSM service providers had not been found to pose any health risks to human beings. The NCC, which cited a research conducted by the World Health Organi-
sation, WHO, however, pointed out that research was still ongoing on the matter. But based on available research findings, the commission described fears of masts and towers as misplaced. The NCC added that such equipment were necessary for the continuous enjoyment and expansion of telecommunication services in the country. The NCC Executive Commissioner in charge
of stakeholders management, Mr. Okechukwu Itanyi, gave this assurance at the 69th edition of telecoms consumer parliament held in Port Harcourt with the theme; “Telecom masts and towers: A necessity or nuisance.” Itanyi, who spoke through another commissioner, Dr. Mike Onyia, said with the astronomical increase in the number of subscribers in Nigeria since 2001, there was still
need for massive deployment of masts and towers which were essential for the spread of telecom services to every nook and cranny of the country. He said: “In spite of the rising health and environmental concerns all over the world regarding the installation of masts and towers, NCC, as a responsible regulator, ensures that it abides by international standards and work in accordance with best practice in the industry.”
work busy when dialled, drops abruptly, or simply returns no answer; internet users in the state also experience difficulty from network failure even when it does not rain. A multiple subscriber, Mr. Chris Odiaka, disclosed that the disruption has been more pronounced with MTN than other lines. He said he had been relying on ‘manageable’ services of the other service providers to conduct his business. Odiaka wondered what the government was doing to ensure value for money. For another subscriber, Mr. Joseph Obi, whose marriage comes up on October 6, network failure has made a mess of everything as he cannot abandon his job at the planning stage to travel. Despite its poor services, MTN keeps on advertising its latest promo on radio and television, offering aeroplane to one lucky subscriber, a car to another in addition to other cash incentives if subscribers purchase its lines and op-
erate the lines with certain amount of call credits. Particularly, for subscribers who depend only on MTN lines for social and business contacts, it has been a case of disappointment and loss of revenue as even MTN-to-MTN intra-network calls often fail to go through. Most times, text messages are not delivered even when the network has already deducted money from the subscriber. Considering the poor service, subscribers of the network have appealed to the Presidency, the National Assembly, the Nigerian Communications Commission, NCC, the Consumer Protection Council, CPC, and the National Lottery Regulatory Commission, NLRC, to stop the ongoing promotion tagged MTN Wonder Packages, promising mouth-watering, redeemable prizes and ensure the refund of all illegal revenues telecommunication companies make from poor services to subscribers.
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North
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
Terrorists kill police sergeant, two others in Borno INUSA NDAHI MAIDUGURI
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ome suspected terrorists at the weekend killed a police sergeant (name withheld) and two civilians in Marte Local Government Area of Borno State. The suspected terrorists burnt a police station, a church and residence of a
•Burn church, police station
unit commandant of the Army in the local government. Also razed down were five vehicles parked in the premises of the police station. It was learnt that the terrorists, who came in three Golf cars and eight motorcycles, stormed the local gov-
ernment and started shooting sporadically into the air. Residents, however, scampered for safety as they could not bear the sounds of multiple explosions and gunshots that rented the air. A resident, who narrowly escaped from the attack, told journalists that the terror-
ists overpowered the police and other security agents during the four hours battle with the suspects. He said when the security agents realised that they had run out of ammunitions, they immediately alerted their neighbouring colleagues from the Monguno military barracks in Monguno Local Government Area, but due
to communication problem, the terrorists executed their mission and left before the arrival of additional troops. The body of the police sergeant had been deposited to mortuary in Maiduguri. However, the police spokesman, Gideon Jibrin, could not be reached for comment on the incident, as attempts to reach him through
his mobile phone failed. But a security officer, who did not what his name in print, said that there was an attack in Marte Local Government Area at the weekend by suspected terrorists, who killed a police sergeant and two civilians, while some residences were equally razed down by the hoodlums.
N5, 000 note: Group calls for Sanusi, Iweala’s resignation WOLE ADEDEJI ILORIN
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Member representing Yola North/South/Girei Federal Constituency of Adamawa State, Hajia Aishat Ahmed Binabi (left) presenting relief materials to the flood victims in the state at their camp in Yola, at the weekend.
Aliyu urges residents to heed warning on flooding PRISCILLA DENNIS MINNA
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overnor Babangida Aliyu of Niger State has urged residents to heed various warnings issued by the Federal Ministry of the Environment, National Emergency Management Agency (NEMA) and Power Holding Company of Nigeria (PHCN) over heavy rains that may result in flooding. In a condoled message
sent to the family of Mallam Muhammad Kudu, who lost two of his children -Bashiru and Mustapha -who were drowned after a heavy down pour that lasted about three hours in Minna on Saturday, the governor advised the residents to always heed warnings issued by relevant authorities. Governor Aliyu also sympathised with those who lost property to the rise in water level around coastal communities in
the state. Aliyu particularly referred to the alert issued by the authority of the Jebba Hydro Power Station warning waterside communities, including illegal settlers of the commencement of seasonal water release for equipment maintenance and enhancement of power generation, which began last week. He appealed to the people, especially those in flood prone areas to take
all necessary precautionary measures to avoid flood disasters, saying: “Similar warnings in the past had saved lives and property.”
Aliyu
group known as The Concern Citizen of Nigeria (TCCN) has called for the resignation of the Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi, over the proposed N5,000 note into Nigerian currency. TCCN also called for the resignation of the Minister of Finance, Dr Ngozi Okonjo-Iweala. The group, in a statement signed at the weekend in Ilorin by its Chairman, Mr. Michael Ologunde, and Secretary, Mallam Akano Aliu, said the duo should be forced to resign if they are not ready to stop the introduction of the N5, 000 banknote. The group described as unwise and wickedness the planned introduction of the N5, 000 note and the change of N20, N10 and N5 notes to coins by the CBN. The group said: “The economy of Nigeria is in shamble with the attendant high unemployment, poverty and insecurity. “There are no big or medium industries to provide jobs for the large numbers
of unemployed able-body youths in the country. “Foreign and local investors are afraid of investing in the nation’s economy following the dastard actions of a terrorist group, corruption, irregular electricity supply and general insecurity. “Government and, particularly the economic team should rather address these issues that have put our economy in shamble and find a lasting solution than dissipating energy on the introduction of the N5, 000 note.” The group, however, urged President Goodluck Jonathan to stop Sanusi and Iweala from “imposing their unpopular policy on the people.” It noted that the effect of earlier introduction of N1,000 note, which led to change of N1 and 50 kobo notes to coins, was the cause of the inflation that is still ravaging till today. “If N50 notes should be allowed to be the least denominational note in the currency, Nigerians will not spend the coins; there is no doubting the fact that a packet of biscuit will now cost N50,” the group said.
I’ll support communities on peace initiative –Yuguda Niger pays N1.4bn students’ exams fees JAMES ABRAHAM JOS
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auchi State Governor Isa Yuguda has promised to support initiatives by communities so as to ensure peaceful co-existence in the state. The governor spoke at the weekend through his Chief Press Secretary, Mr. Ishola Adeyemi Michael, after visiting Fulani and Sayawa communities in Tawa Balewa and Bogoro Local Government Areas of the state He commended efforts
by the communities in resolving to live in peace with one another and putting the past behind them. Yuguda said: “I have it on a very good and reliable authority that already, the Fulanis have started returning to Bogoro and the government will continue to support such initiatives aim at bringing lasting peace in the communities and the state at large”. He said the state government had set up a committee to help rebuild all the houses de-
stroyed during violence in those communities, stressing that the move would cost the government huge amount of money. Michael added that as soon as the people of Bogoro and Tafawa Balewa communities are ready for government’s presence, government would move in and build cattle market to attract international patronage. He noted that enforced peace doesn’t last like when those in dispute resolved to live in peace with one another.
PRISCILLA DENNIS MINNA
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he Niger State Government said it spent N1.4bn on the payment of WAEC, NECO and NABTEB fees for secondary school students between 2008 and 2011. The Commissioner for Education, Mrs. Susan Gana, stated this while exchanging view with the UNICEF Regional Director for West and Central Africa, Mr. Emmanuel Fontaine, in Minna, the state capital. Mrs. Gana said aside the payment of examinations fees, the state paid other in-
ternal examinations fee for students. She said the state also spent N436.3m on the purchase of core subject textbooks, teaching and learning materials that comprised of science laboratory as part of its girlchild education initiative. The commissioner added that the ministry of education equally provided infrastructure and facilities in schools. The infrastructure, according to her, include 117,210 sets of students/teachers furniture, construction and renovation of 2,690 and 587 classrooms toward improving
the child friendly learning environment. Mrs. Gana the decision to procure the learning materials was taken to encourage female students to undertake their studies and partake in public examinations without difficulties, as most parents of the female students could not afford to pay for their examinations fees. Also speaking, the UNICEF Regional Director for West and Central Africa, Mr. Emmanuel Fontaine, stressed the importance of education as tool for development, health and wealth of an individual.
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
13
Politics
Delta PDP: Troubles in Clark’s camp
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Poll: We didn’t sell out to Oshiomhole, says PDP • Airhiavbere cautions gov SEBASTINE EBHUOMHAN
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he Peoples Democratic Party (PDP) in Edo State yesterday denied being compromised by Governor Adams Oshiomhole in withdrawing from the petition filed by its governorship candidate. The party in a statement issued in Benin by its state publicity secretary, Mr. Matthew Uroghide, denied
insinuations that PDP sold its political rights for a pot of porridge. Uroghide said: “It is malicious, wicked and unfounded for a group of people to bandy innuendoes and rumors suggesting that the leadership of Edo PDP accepted compensations to sell out their rights to challenge the result of the election. In fact, these same people are known to have worked against the
candidate and party interest in the July 14, election. It is our knowledge that the new aim of these people is to cause disaffection within the party, and strive to gain some sympathies and favours for themselves from top PDP leaders including the opposition party. “For the avoidance of doubt, no money and promises of choice positions both in the local government offices and in Governor Oshiomhole’s cabinet were offered to
and accepted by the PDP and no high-up leader of the party bargained the party’s rights away. The decision, reached by all at the said meetings, was simply a case of the right thing to do after responsibly and painstakingly weighing all the angles.” The party explained that the decision not to challenge the result of the election was reached after “several prolonged meetings attended by strategic leaders and stakeholders
of the party including the PDP flag bearer in the election, Major-General Charles Airhiavbere (rtd).” “Let it be known finally that after due consultations with the leadership and stakeholders within our party and in the utmost interest of all Edo people, Edo PDP decided not to bend its efforts in ways that will exert breakneck pressure on our commonwealth. Our party does not wish to engage in a long-drawn-out litigation capable of frittering away the limited resources of the state even though the party reserved the right to undertake such an action. “We will work with all Edo people to realise the dream which our pride as a people has agreeably
forced upon us. We will do all these for the betterment of the people in visible proof of the new focus of our party. We will defend their rights and balance power in wholesomely productive ways.” He added that it took the party over three weeks to reach the decision during which series of consultations and meetings were held to determine the best line of action. The PDP said it decided not to challenge the election outcome at the Election Tribunal, adding: “The resolve not to go to court was as difficult for the leadership to arrive at as it must be for our numerous faithful and loyal members and supporters to come to grips with and accept,” the party added.
Extend dredging of River Benue to Adamawa, Rep tells FG FELIX NWANERI
A L-R: Chairman, Osun Central Senatorial District of the Peoples Democratic Party, Rev. Bunmi Jenyo; Kwara State Governor, Alhaji Abdulfatah Ahmed and National Secretary of the party, Prince Olagunsoye Oyinlola at the Civic Reception for the party’s scribe in Oshogbo at the Weekend.
PDP, ACN trade tackles over N2m to LG c’ttee OLAJIDE OMOJOLOMOJU
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gain, the Peoples Democratic Party (PDP) in Osun State yesterday accused the Action Congress of Nigeria (ACN) government of Rauf Aregbesola of paying N2 million daily to the 10-member Local Government Creation Committee as sitting allowance in the past 74 days. But the ACN described as laughable and nefarious, the PDP accusation. The PDP in a statement by its Director of Publicity, Diran Odeyemi also challenged Aregbesola to make public how much he
has paid Senator Tokunbo Afikuyomi as consultancy fee for the same exercise. Recalling that the local government creation committee was set up on June 18, the PDP said that the committee has been meeting almost on daily basis since its inauguration, adding that it had collected over N140 million as sitting allowance alone. It added that it was indefensible that the ACN government, despite providing all necessary basic working tools and accommodation for the committee was paying each member of that committee a whopping N200, 000 per sitting for the past 74 days .
Challenging the Aregbesola-led administration to explain how it arrived at the N200,000 daily allowance and come clean on how much it has spent on the exercise to date, the PDP said: “Even members of the state and National Assemblies who will eventually approve whatever the committee is doing do not collect such huge funds. With the majority of the committee members drawn from outside the state, it is now clear that the exercise is another ploy to further plunder and export the state’s treasury to Lagos.“ But speaking through its Director of Publicity,
Kunle Oyatomi, the ACNsaid the PDP in the state has turned itself into a laughing stock due to its “pathetic dependence on silly lies to gain public attention.” He said that for the avoidance of doubt and to put the records straight, “the ACN wishes to categorically deny the allegations of the PDP as another in the series of wicked lies, simply to discredit the ACN and the governor of Osun State. Besides, it is simply not true that the committee had sat for 74 days and its members were paid N200,000 each as alleged. The PDP lying machine has gone berserk.”
n appeal has gone to the Federal Government to extend the dredging of River Benue to Adamawa State in order to prevent future flood disaster in the state. A member of the House of Representatives, Hajiya Aishatu Ahmed Binani, made the appeal while presenting relief materials to displaced victims of flood in Yola, the state capital, at the weekend. “I sympathise with hundreds of families who lost hundred of millions worth of valuables, indeed lives were lost. We take this as an act of God and pray to Him for fortitude for us to bear our losses. “We have visited others at various camp sites, where they are temporary sheltered. We commiserate with all of you. In such circumstances we pray to God to save us from such calamities in the future,” Binani said. She also appealed to the state government to look into the plight of the flood victims with a view to
helping them in their time of need. Binani, who is representing Yola North/ Yola South/Girei Federal Constituency, told National Mirror: “I wish to use this medium to call on the Federal Government through the Ministry of Transport to hasten dredging of River Benue. “Sometime this year I sponsored a motion at the House of Representatives calling on the Federal Government to extend the dredging of River Benue up to Wuro Bokki in Adamawa State in order to forestall such calamity and improve economic activities of our people. “The motion was overwhelmingly supported and forwarded to Ministry of Transport. If this is taken up urgently it will definitely reduce such calamities like flood disaster we recently witnessed.” Binani also called on the National Emergency Management Agency (NEMA) to urgently come to the aid of Internally Displaced Persons (IDPs) in order to help them settle back to their lives.
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Politics
Uduaghan
Monday, September 3, 2012
Clark
National Mirror www.nationalmirroronline.net
Orubebe
Delta PDP: Troubles in Clark’s camp Delta State chapter of the ruling Peoples Democratic Party (PDP), has been engulfed by fresh crisis over the composition of its executive in the state. SOLA ADEBAYO, in this report examines the controversy over the March 17 congress which produced new leaders for the party in the state.
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enior members of Delta State cabinet must be in a joyous mood these days. This is in view of the irreconcilable squabbles in the ranks of the Edwin Clarkled faction of the Peoples Democratic Party (PDP) in the state. After years of acrimony within the ruling party in the state, the governor eventually recognised the faction led by Clark due to intervention by some prominent individuals, including President Goodluck Jonathan. Findings showed that the governor succumbed to superior arguments that an embittered Clark could be dangerous to his survival after his exit from power in May 2015. He was quickly reminded of the fate of his cousin and predecessor, Chief James Ibori and the roles played by the Ijaw leader in his travails. Consequently, Uduaghan agreed to the sharing of the 29-member state executive of the party between his faction and the Clark-led faction, ostensiibly as a first step to pacify the Ijaw leader and bring him close to the government. Uduaghan faction was allocated 15 slots while Clark’s group got 14 slots. But trouble started when Clark travelled outside the country before the March 17 congress, which ratified various nominees by the two factions for the positions in the state working committee of the PDP. Clark, who appointed a senior member of his faction and Minister of Niger Delta Affairs, Elder Godsday Orubebe, to strike the deal with Uduaghan, was inundated with calls from Nigeria that Orubebe was not doing
his bidding. A former Minister of State for Education and another member of Clark’s faction, Chief Kenneth Gbagi, engaged in media war with Orubebe over the nomination of individuals from the Clark’s faction into the executive council. Report indicated that Gbagi eventually travelled to the United Kingdom to brief the Ijaw leader about the development at home. A visibly unhappy Clark returned home to demand for the reversal of Orubebe’s action. Clark shunned entreaties to pacify him to allow the March 17 congress to stay. He questioned the judgement of Orubebe and asked the national headquarters of the party to substitute those elected in the congress with fresh nominees. In the petition Clark fired to the National Chairman of the PDP, Alhaji Bamanga Tukur and copied Uduaghan, Orubebe, the party’s Zonal Chairman, South-South, Dr. Steve Oru and the state’s chairman, Chief Peter Nwaoboshi, he insisted that the executive elected at the congress could not stay. He further demanded that the elected members be replaced by his key loyalists, whose names he attached to the petition. Clark had told associates that those elected from his group were not known to him, adding that they were never part of his struggle with Uduaghan for recognition and involvement in the management of affairs of the party. The petition caused the suspension of the inauguration of the new executive on two occasions. But three members of the executive were not inaugurated while others were replaced by some persons, who did not participate in the congress, when the swearing-in
of the state’s party leaders eventually took place on August 23. The unfolding drama started when the venue for the exercise was shifted from the party’s state secretariat to the Government House and climaxed in the exclusion of the elected Treasurer, Chief Akpos Edafevwotu; Vice Chairman, south Senatorial District, Mr. Ekenwan Akwagbe and Legal Adviser, Mr. John Ishaka, from the swearing-in. Besides, it was announced to the bewildered party members that some other elected officers, including the State Assistant Secretary, Delta Central Senatorial District, Mr. Patrick Edatire, were replaced by fresh nominees. Ironically, the state’s auditor and follower of Nwaoboshi, who instituted a legal action against the plan to short-change him was inaugurated in company with 15 loyalists of Uduaghan and a few others, who enjoyed the backing of Clark. The event witnessed by Uduaghan was superintended by Oru. It later became clear that the venue was changed in order to curtail expected protests by the supporters of the aggrieved parties. Clark did not stop at the state level, he also caused the suspension of the inauguration of the local executive of the party in Burutu Local Government Area of the state. The former minister, who prides himself as father of President Jonathan, hails from the council area with Orubebe. He told the caucus of the party in the area that he was not satisfied with the composition of the local executive by the Niger Delta Minister.
A VISIBLY UNHAPPY CLARK RETURNED HOME TO DEMAND FOR THE REVERSAL OF ORUBEBE’S ACTION... HE QUESTIONED THE JUDGEMENT OF ORUBEBE AND ASKED THE NATIONAL HEADQUARTERS OF THE PARTY TO SUBSTITUTE THOSE ELECTED IN THE CONGRESS WITH FRESH NOMINEES
But the aggrieved parties have also fired back. They have also petitioned Tukur for redress and demanded their inauguration within 14 days. In the petition dated August 27, they threatened to seek legal redress at the end of the two-week ultimatum. In the petition dispatched to Tukur and copied Uduaghan and Nwaoboshi, they insisted that the refusal of Oru to inaugurate them constituted an infraction of the PDP’s constitution and a breach of their rights. They said, “Suffice to state here that we were duly elected on March 17, along with others (already inaugurated) at the Delta State congress of the party that took place at the Cenotaph, Asaba and which election was conducted by PDP Delta State Congress Committee with Dr. (Mrs.) Anne Ugbo, as chairman /returning officer. “To say the least, these are some of the social vices in the party which our national chairman has been preaching against since he assumed office in March 2012, to ensure an harmonious co-existence among the rank and file of the party. “We have decided to intimate our national chairman through this petition/ complaints with a view to remedying the situation by causing the vice-chairman (South/South) to inaugurate us within 14 days from the receipt of this petition with retroactive effects. But should he fail to inaugurate us within the stipulated time, we shall be left with no other option than to seek redress in a competent court.” The discordant tunes in the camp of the enemies of Uduaghan are surely elating the governor and members of the inner circles of his government. Top officials of the government continue to curry the friendship and association of Clark as the crisis subsists. “The more the crisis lingers, the better for the other faction,” says a political analyst. It is also being speculated that the opposing camp could be fuelling the crisis in order to garner advantage. Pending when the national headquarters of PDP will resolve the logjam, the crisis in Clark’s camp appears a sweet victory for the governor and his men. Uduaghan and his cotravellers are said to be laughing last and laughing better.
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Monday, September 3, 2012
15
Of patriots and villains HeartBeat
CALLISTUS
OKE
Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY)
Continued from last Monday
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he Ghanaian leader had indicated on Thursday February 16, 2012 in his last address to Parliament before his death five months later that his government upped national power generation to 2,178MW, promising that by the end of 2013 this would reach about 3,300MW. Ghana achieved this feat through painstaking planning and efficient deployment of resources. More importantly, she resisted the creation of a power utility behemoth like Nigeria’s Power Holding Company of Nigeria (PHCN). Akosombo hydroelectric plant, the nation’s largest generation facility, commissioned on January 22, 1966, has installed capacity of 912MW. It is managed by the Volta River Authority (VRA), a stateowned entity responsible for generation and transmission of electricity throughout Ghana. Two different entities distribute power in the south and north of the country. For the south it is Electricity Company of Ghana (ECG), while the Northern Electrification Department
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(NED), a subsidiary of VRA, enjoys such distribution monopoly in the north. This arrangement contrasts with what we have in Nigeria where everything big is good and beautiful. Ghana, a country of a little over 24 million people, generates more electricity than she really needs. Nigerians need to ask their leaders and the inept bureaucratic mandarins why they opt for omnibus PHCN and saddle it with the composite functions of power generation, transmission and distribution! The 160MW Kpong hydroelectric project came 16 years after Akosombo. Two thermal plants at Aboadze in the Western Region complement the nation’s power generation efforts. Electricity is also generated from renewable energy sources, particularly solar energy in remote rural communities of the country. Complementing Ghana’s power policy inputs are the Public Utilities Regulatory Commission (PURC), an independent agency that calculates and sets electricity tariffs, educates customers about electricity services as well as energy efficiency and conservation, and Energy Commission, also an independent agency that licenses private and public entities in the electricity sector. There is the Energy Foundation, a Ministry of EnergyPrivate Enterprises Foundation (PEF) initiative set up in 1997 to promote energy efficiency and conservation programmes. It is interesting to note that the country allows private domestic and international power generators, but whatever electricity they generate they sell to VRA or ECG.
IF GHANA’S POWER GENERATION EFFORT IS A CLASSICAL EXAMPLE OF SUCCESS THAT
OF NIGERIA IS BOTH DEPRESSING AND UNIMAGINATIVE If Ghana’s power generation effort is a classical example of success that of Nigeria is both depressing and unimaginative. Last month Abuja was agog with the news that our power output had overshot the 4, 000MW mark! We have just caught up with the rest of the serious world on private sector commanding role in the sector as encapsulated in the Power Reforms of the Goodluck Jonathan administration. That the reform implementation has become problematic is underscored by the recent strike action of NUEE over the implementation of the unbundling of PHCN. The Director General of the United Nations Industrial Development Organization (UNIDO), Dr. Kandeh Yumkella, recently put in perspective Nigeria’s uncreative power policy since independence in Abuja when he met with donor agencies and stakeholders in the nation’s power sector. “When power supply goes off, we get the generator. We never sat down to ask where we want the nation to be in the next 20 to 25 years, how fast we want it to grow, how
much jobs we want to create and what sectors of the economy we need to develop. Instead of putting the generators on, you would have built the hydropower plant since Nigeria has a lot of water resources”, he said. His organization has planned to launch project Energy For All Initiative in Abuja, which is aimed at achieving three global goals - universal access to energy by 2030, doubling the rate of improvement of energy efficiency by 2030 and doubling the share of renewable energy in the global energy mix by 2030. Given the vast potentials for power generation in the country, the three goals are achievable. We have untapped hydropower potentials dotting our rich water basins, especially in the North. There were past efforts to harness them; those abandoned power projects should be resuscitated. Why can’t our ever bubbling natural gas be liquefied and piped to homes and businesses instead of being flared? What about the quantum of rich coal buried in the bowel of the earth even when it is a common knowledge that USA and South Africa generate the bulk of their power from that product? We have just woken up to the potentials of solar energy; but for nuclear energy for electricity, we have a long wait ahead. Our living in constant darkness is evidence of governance deficit. I doubt if the Ngozi Okonjo-Iwealas in government appreciate this? When NUPENG and other members of the civil society bear their fangs on the leadership, the development is borne out of frustration and not out of a premeditated act of sabotage. Concluded.
Combat-fatigued NAFDAC and fake drug business
ince the exit of Professor Dora Akunyili, it is all quiet at the National Agency for Food and Drug Administration and Control (NAFDAC). The current Director General, Dr. Paul Orhii and his management appear to have caught the slumberbug, the sleeping sickness that afflicts Nigerian political officeholders after securing appointments. Rattled by Reps’ bravado, Presijo has set quarterly performance benchmarks for his ministers. This benchmarking should extend to all 500 federal departments and agencies, including NAFDAC. And MDAs’ quarterly reports should not be for Presijo’s eyes only; they should be made public for citizen’s scrutiny. After unsuccessfully treating a bout of malaria with three sets of anti-malarial drugs, I got curious and thereafter resorted to herbal therapy. A recent research showed that 85 percent of the anti-malarial drugs in Nigeria are impotent. I derisively refer to them as largely elubo-lafun cassava powder packaged beautifully with exotic labels. A recent University of Lagos research confirmed that fake drugs contributed to the epidemic of treatment failures, drug resistant malaria parasites, disability, and death (see Guardian of April 25, 2012). NAFDAC, however, queried UNILAG’s method of examination, claiming that impotent antimalarial drugs in market were smaller than reported. Curiously , the Coordinator, Maternal and New Born Child Health in Konduga LGA, Borno State, Hajia Fatima Bulama Masu, has cried out that 80 percent of children and pregnant women in the LGA were under serious threat of high malaria infestation. She made the observation at the ongoing UNICEF backed immunization for
children. She decried the attitude of husbands who refused their wives and children from immunization. Also, a new study in African countries shows that antibiotic drugs used to tackle malaria, tuberculosis and infections are failing basic quality tests. The report of researchers from the American Enterprise Institute and the IMANI Center for Policy and Education, Ghana showed that 15 percent of all drugs tested in African cities and seven percent in Indian cities failed quality tests. In fact, 40 percent of drugs bought in two unnamed largest West African cities had insufficient active ingredients. The lead researchers, Roger Bate and Franklin Cudjo, called for international pressure on China and India to check global epidemic of fake drugs largely emanating from both countries, with Africa as perhaps the biggest destination. They urged international drug donors to Africa to shun India and China, which are using double standards and exploiting weak oversight functions of regulatory agencies (such as Orhii’s NAFDAC) to hawk inferior killer drugs. Found also was that 18 percent of World Health Organization (WHO)-approved Chinese drugs, especially antimalarial, failed global quality checks. Given that 8.8 million people and another 240 people million contracted tuberculosis, and malaria respectively in 2010, the threat to public health and life is therefore, better imagined. Malaria accounts for about 300,000 deaths in Nigeria, especially children under the age of five years, every year, and one million in Africa. Apparently overwhelmed by resurgent fake drug epidemic, NAFDAC is proposing stiffer sanctions for die-hard peddlers
A RECENT RESEARCH SHOWED THAT 85 PERCENT OF THE ANTI-
Roadmap
MALARIAL DRUGS IN
NIGERIA ARE IMPOTENT and importers. It is proposing a minimum life jail, up from a maximum sentence of 15 years and miserable N500, 000 fine options, which peddlers gladly pay and escape to continue their killer-terrorism business. As Orhii rightly pointed out, fake drug-consuming Nigeria should do better than China and India, which impose death penalty and life jail for fake drug manufacturers. Let us pray that bureaucratic bottlenecks would not stall the proposed bill and that NASS will give accelerated passage. Before the new life-jail law, judges should henceforth slap maximum sentence of 15 years on fake drug convicts to reduce their population. However, maximum laws and sanctions alone cannot deter die-hard criminals. Akunyili pursued fake druggist to veer into cosmetics business, even after being shot by suspected fake drug cabal. Orhii’s NAFDAC must wake up now or get a kick. The public cannot stomach excuses for failure. Akunyili had taken the battle against fake drug cartel to China and India where she appointed pre-shipment inspectors to certify Nigerian-bound drugs. Fake drug warehouses concealed in eastern forests were dismantled. NAFDAC has slept for too long. Rogue regulatory officials at airport and seaport of entry should be smoked
SONI EHI
ASUELIMEN
soniasuelimen@yahoo.com, 08023459055 (SMS ONLY)
out and intelligence and security agencies deployed to smoke out fake drug criminals and destroy hidden depots anywhere in the country. State governors harbouring such fake drug warehouses and shielding criminals or doing little or nothing to apprehend them are enemies. Nigeria should use diplomatic means to stop China and India from feeding Nigerians with poisons when Nigeria feeds them with juicy rail and road contracts. More important, government should strengthen domestic manufacturers of genuine pharmaceutical drugs by patronizing them instead of procuring cheap but deadly imports. A government procurement policy that favours importation of pharmaceuticals is unpatriotic. Consumers too should prefer domestic pharmaceuticals. Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: mail@ nationalmirroronline.net mirrorlagos@ yahoo.com or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.
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Shell’s N59bn budget for security
he recent report that the British-Dutch oil giant, Shell paid the Nigeria Police, Army and other security agencies N59.3 billion in three years to guard its installations in the Niger Delta appears a worrisome development that interrogates the ways the firm has been conducting its business in the country and the Federal Government’s management of its security apparati. Quoting credible documents, Londonbased global oil industry watchdog, ‘Platform’, had reported that Shell paid security agencies in Nigeria $383 million (N59.3bn) between 2007 and 2009 when insurgency in the Niger Delta axis peaked. The expenditure includes payment for Shell’s private security personnel numbering 1,200 and 1,300 government forces that guarded the company’s facilities. Indeed, Shell’s total security expenditure for its worldwide operations amounted to $1 billion in the three years – 2007 - 2009. If Shell were to be a country, its expenditure on security was ranked the third highest budget in Africa, after South Africa and Nigeria. Shell, the FG’s major partner in oil exploration and export that yield about 80 percent of the nation’s revenues, had reportedly resorted to huge security expenditures to contain growing attacks on its staff and facilities
THE FG MUST STRIVE TO ADOPT POLICIES THAT COMPEL OIL FIRMS,
THROUGH PETROLEUM
INDUSTRY LAWS, TO BE SOCIALLY RESPONSIBLE by aggrieved communities. Host communities in Shell’s areas of operation had often protested the company’s style of doing business, which results in the devastation of the local environment with pollution leading to the destruction of their means of livelihood, mainly fishing, farming; as well as health impairments. Instead of negotiating remedial palliatives, the company gives supreme preference to funding and deploying state security agencies to bully communal agitators, as the company’s security vote now made public seems to suggest. It was such irresponsible business ethics, backed by past military regimes that led to the springing up of selfdetermination groups and the execution of some Ogoni leaders, including the late international playwright, Ken Saro-Wiwa, by the then Gen. Sani Abacha military junta on November 10, 1995, despite global outrage over the killings.
Sadly, subsequent civilian administrations have not departed from the military style, anti-people strategy of bottling up or capping communal grievances instead of allowing them to be ventilated through appropriate pacifying and remedial actions. Apparently, some of the communities might be aware of Shell’s huge and disproportionate budget on security, a fraction of which might have calmed frayed nerves if deployed to remediation. Besides, the Platform report quoted by The Guardian of London, said an estimated $127 million or N19.6 billion was spent on a foggy expenses head labeled as “other”, thus fueling the suspicion that such huge miscellaneous expenditure was used to compromise officials and vocal community members. Indeed, the general impression has been that part of Shell’s security votes were allegedly deployed to bribe and shut the mouths of vocal local chiefs, oil industry regulators such as the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) officials, and other oil industry officials in the ministries and parastatals. Nor are politicians left out. Shell International, however challenges the Nigerian government to explain any corruption allegation. Shell Nigeria’s spokesperson,
Precious Okolobo, reportedly said the spending on security was carefully judged to meet objectives, especially with the difficulties of working at the peak of armed criminality and oil thefts which shrunk oil export and the FG’s revenues, as well as Shell’s profits. It may, nevertheless, be necessary to thoroughly audit the accounts of the police, military and other known beneficiaries of Shell’s security largesse to verify the spending claims, whether the funding was officially approved and the real identities of the beneficiaries. Likewise to be investigated is Shell’s claim of donating vehicles, helicopters, patrol gunboats, satellite phones, etc., to monitor the creeks and waterways. It might also interest the National Assembly to pry into the compromising security spending as well as the $200 million or N30 billion spent by the NNPC on yet unexplained ‘security’ in two years, as was revealed by the AuditorGeneral of the Federation in a recent report. The FG must strive to adopt policies that compel oil firms, through petroleum industry laws, to be socially responsible, while the government should discharge its constitutional duties of providing for the welfare and security of the citizenry without which investments can scarcely be attracted to Nigeria.
ON THIS DAY September 3, 2004 Beslan school hostage crisis – day 3: The Beslan hostage crisis ended with the deaths of over 380 people, more than half of which were children. The Beslan school hostage crisis commenced on September 1 when armed terrorists took children and adults hostage in Beslan in North Ossetia, Russia. The crisis lasted three days and involved the capture of over 1,100 people as hostages (including 777 children), ending with the death of over 380 people.
September 3, 1987 In a coup d’état in Burundi, President Jean-Baptiste Bagaza was deposed by Major Pierre Buyoya. Bagaza (born 1946) was a Burundian politician who was Chairman of the Supreme Revolutionary Council in Burundi until November 10, 1976, and President from November 10, 1976 to September 3, 1987. While travelling abroad, Bagaza was deposed in a military coup d’état. He was replaced by Pierre Buyoya as the country’s president.
September 3, 1945 Three-day celebration was held in China following the victory over Japan Day on September 2. As the final official surrender of Japan was accepted aboard the battleship USS Missouri in Tokyo Bay on September 2, 1945, the Nationalist Government of the Republic of China, which represented China on the Missouri, announced the three-day holidays to celebrate V-J Day, starting September 3. Starting from 1946, September 3 was celebrated as “Victory of War of Resistance against Japan Day”.
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Business Courage
Monday, September 3, 2012
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The big brewery battle Three of the world’s biggest brewers, Heineken, Diageo and now, SABMiller shift the battle ground to Nigeria, in a global growth realignment strategies that focus on Africa (Nigeria in particular), in a bid to corner the largest chunk of the global beer market. By Salami Semiu
T
he competition is certain to get keener and fiercer in years to come in the brewing sub sector of the Nigerian economy. Last week, SABMiller, maker of Miller Lite and Peroni Nastro Azzuro, and the world’s second largest brewer by volume after Anheuser-Busch InBev NV (ABI.BT), commissioned a N15 billion ($100 million) factory in Onitsha, Anambra State. With the commissioning, SABMiller is set to start the production of beer and malt with an annual capacity of up to 500,000 hectolitres. The initial brand to be brewed, it was gathered, will be the newly launched Hero Lager, followed by other brands including Trophy Lager, Grand Lager and non-alcoholic malt beverages Grand Malt and Beta Malt. SABMiller is not entirely new in the Nigerian beer market; having first entered Nigeria in 2009 through an alliance with Castel, but its decision to register its presence in the country as a full fledge brewing company has no doubt raised the stakes in the beer manufacturing sub sector. Mark Bowman, Managing Director of SABMiller’s African operations, said the opening shows the group’s commitment to “consolidate” its position on the continent. But industry analysts who spoke with Business Courage last
week said the coming of SABMiller into Nigeria through the multi-billion dollar investment is to quickly tap into Africa’s $3 billion (N43.9 billion) informal market, looking to the relatively untapped African market to help drive future growth. Nigeria is Africa’s secondlargest beer market growing around six percent a year and average per-capita consumption at roughly 10million litres per year, which compares with an average of around 60 litres in Africa’s largest beer market, South Africa. That SABMiller meant business in its bid to making strong incursion into the Nigerian beer market is unmistaken. Already, the company is spurring farmers to raise cassava and barley for its new discount beers. Apart from its traditional brands, the company plans to storm the Nigerian beer market with cheaper African beer. Already, SABMiller has bought Pabod Breweries, Port Harcourt and Standard Breweries in Ibadan, the companies that provided it with the required soft landing into the country. SABMiller was founded in South Africa in 1895 as South African Breweries (SAB). The business operations were mainly limited to southern Africa, where it had established a dominant position in the market, until 1990 when it began investing in Europe. SABMiller has grown from its original
South African base into a global company with operations in both developed markets and in emerging economies such as Eastern Europe, China and India. Coming into the market that is already heavily dominated by the two leading brewers, Nigerian Breweries and Guinness Nigeria Plc, SABMiller may have opted to tap into the informal market, using a new strategy that emphasise indigenous brands at affordable prices. With operations in 14 countries, SABMiller already has around 45 indigenous African brands, ranging from the more affordable Chibuku Shake Shake in Malawi and Eagle in Uganda, Tanzania, and Zimbabwe to such premium brands as Nile Special and Mosi. Now, the company plans to create even more affordable brews using locally sourced ingredients such as cassava—a root vegetable that yields a rich starch—in place of more expensive imported alternatives such as maize. Inside sources say SABMiller’s African strategy may see its two Nigerian acquisitions - Pabod Breweries and Standard Breweries - brewing well improved ‘Burukutu’ and ‘Pito’ and perhaps other local brands in Nigeria. “It is an entirely logical move, given that a large segment of the population in Africa may not be able to afford commercially brewed beers as often as they’d like,” says Kim Slater, director of consulting at bever-
A production line
age market research firm Canadean in Basingstoke, Britain. SABMiller estimates that the home brew market is worth more than $3 billion in African countries where it currently operates, amounting to a volume potentially four times greater than the beer maker’s current sales there. “There is an enormous informal alcohol market in Africa,” says van den Houten. “We hope to access much of that market by producing a commercially brewed beer at 50 per cent to 60 per cent of the cost of standard lager by using locally sourced ingredients.” Of the four main international brewers which currently controlling nearly 90 percent of the African market, SABMiller is believed to have a 43 percent share as against Heineken’s 19 percent and French brewer Castel Group (in which SABMiller owns a 20 per cent stake), controlling 16 per cent. Diageo has the remaining 12 percent. Despite SABMiller’s intimidating credentials, the two leading brewers in the country
appear unperturbed at the euphoria surrounding the coming of the South African brand and its strong push for affordable beer. Michiel Herkemij, Managing Director, Nigerian Breweries Plc believes the idea of cheap beer which SABMiller is coming with would not fly. “I do not know many Nigerians who like cheap things. I think what they are trying to do is to copy their strategy for Eastern Africa which is clearly a strategy that works for that part of the world. This home brew beer is a huge business. They tried it there with a locally produced sorghum. The sorghum they have in East Africa is different from the one we have here. So, if they are planning to produce cheap beer with that, I do not see Nigerians going for cheap beer. The sorghum we have here is totally different from the one they have in East Africa. It doesn’t allow itself to be brought down, to be stepped down to the level you are talking about,” Herkemij said. Herkemij believes that Nige-
Business Courage A Publication of GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, OFR PUBLISHER SEMIU SALAMI BAMIDELE OBAFEMI ADEJUWON OSUNNUYI FESTUS OKOROMADU TAYO ADELEKE
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rian Breweries brands are indigenous beer. “We produce locally, we use local ingredients. What we do is to produce high quality beer with local ingredients against affordable prices. I won’t go into the market and make promises about cheap beer because at the end of the day I know Nigerians want something that is good.” Nigerian Breweries, he said, welcomes SABMiller into Nigeria. “The more the competition, the better, let us be very clear about this. I think Nigerian Breweries is very well placed to withstand any shock. Nigerian Breweries s is a market leader that has been on ground for more than 63 years. It is a company that has been improving itself in all the brands, in all the segments. I am not saying that we are perfect. We have to wake up and
Herkemij
make sure we remain the best in the market.” Kingsley Uranta, Guinness Nigeria’s communication manager, also believes that the market is big enough for everybody, but he assured that his company has strong brands that can withstand any competition. With a population of over 160 million people and a beer consumption of about 10million litres, analysts insist that Nigeria remains a prime target for global brewers willing to expand into areas of higher growth, particularly as the euro debt crisis continues to have debilitating effect on the econo economies of most eurozone countries.
Vetiva Capital, an investment and research firm in one of its report, predicts that the volume of beer produced in Nigeria per year would grow from 15 million hectolitres (1.5 billion litres) in 2009 to 23 million hectolitres (2.3 billion litres) in 2015. “Based on our estimate, the Nigerian beer market currently sits on an unrealised volume potential of 40 million hectolitres, (four billion litres), representing 170 per cent growth over the current level of 15 million hectolitres. While this potential may not be realised in the short-term, we highlight that gross domestic product (GDP), per capita growth and population buildup are proven fundamentals that we are convinced will drive beer demand to 23 million hectolitres by 2015, representing 54 per cent growth over 2009,” the report says. Curiously, however, at a time many sectors of the economy are underperforming due to the global economic downturn and the debilitating Nigerian operating environment, key brewery companies appear to be awash with cash, with the giants among them engaging in a fierce competition for the lion share of the industry. The lull in both the local and global economy notwithstanding, the brewing sector
seems to be the most favoured, at least given the robust financial reports churn out by the operators. Guinness Nigeria, for instance, had an operating profit of N26.5 billion on a turnover of N123.6 billion for its 2011 financial year, which was far better than the previous year. In its 2010 financial year, it had an operating profit of N20.7 billion on a turnover of N109 billion. Nigerian Breweries fared better. Its turnover and its operating profit for 2011 financial year are N226 billion and N57 billion respectively. In 2010, it had an operating profit of N44.9 billion on a turnover of N185.8 billion. However since 2007, a period in which many companies had either shut down or relocated to other countries, Guinness Nigeria’s turnover grew by 99 percent, while its operating profit has grown by 87 percent. Nigerian Breweries on the other hand experienced a turnover growth of 102 percent, while its operating profit grew by 109 per cent for the same period. The implication of this is that both Guinness Nigeria and NB have almost doubled their sales since 2007. The sector has attracted huge foreign investments, which have enabled the companies to expand their capacity. For instance, Heineken acquired 54 per cent shareholding in Nigerian Breweries (NB) in 2000 and subsequently invested more than $500 (about million billion) N77.5 in the company to raise its installed capacity, which is now said to be
Bowman
Devlin Hainsworth, MD Guinness Nig Plc
about 12 hectolitres. In 2003, NB acquired its sixth brewery at Ameke in Enugu State, which is one of the biggest in the country. Similarly, it acquired three more breweries in 2011 from its parent company Heineken. In 2004, Heineken increased its shareholding in Consolidated Breweries from 24 to 50.05 percent. The Dutch company also bought five breweries from Sona Group, which it later sold to NB and Consolidated Breweries. Not done with consolidation, Heineken also bought Life Breweries. Diageo, the parent company of Guinness Nigeria, has equally committed over N40 billion to expand its Benin and Lagos breweries as well as the acquisition of Dubic Breweries for the production of low price beer. With the full integration of SABMiller into the Nigerian business terrain, Nigerian beer market is now dominated by three global players; Heineken, through Nigerian Breweries, Diageo, through Guinness Nigeria, and SABMiller. For now, experts insist that Nigerian Breweries has about 65 percent of the local market, Guinness about 25 percent, Consolidated about 10 percent and SABMiller has about five percent. However, with the commissioning of the multibillion dollar plant in Onitsha, and the expected commencement of full production this month, those familiar with the inner workings of the industry say the statistics would soon change. Even at the global level, Diageo and Heineken are striving to outdo e each other. Two weeks Diag ago, Diageo increased its paysh out to shareholders, confident that buoy buoyant demand for whisky and sp spirits in Asia and Africa would hel help it hit medium-term targets. IIt raised its full-year dividend by eight per cent to 43.5 penc pence per share, after an increase in sales and profit driven by emerging markets. Exposu Exposure to fast-growing markets in Africa, Asia and Latin Americ America meant Diageo outbrewer Heineken shone Dutch Du NV, which posted a decline in first-half profit, hurt by weak Europea European sales. Dia Diageo has a dividend yield yield, a measure of the retur turn investors get on the sto stock, of 2.9 per cent for th the 2011/12 financial y year, more than the 2.1 percent ratio of arch rival and world No. 2 spirits group Pernod Ricard. BC
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Sanusi
CAPP cautions CBN on currency restructuring plan
By Tola Akinmutimi (Abuja)
T
he Community Action for Popular Participation (CAPP) has cautioned the Central Bank of Nigeria on the proposed restructuring of the nation’s currency, particularly the introduction of the N5,000 banknote and urged the management of the apex bank to have a re-think on the move in view of the likely negative effects on the economy. The organisation in a statement issued at the weekend and signed by its Executive Director, Kyuata Giwa, pointed out that introducing the N5,000 notes would not be in the interest of Nigerians but constitute a setback to the efforts being made by the government to make Nigeria one of the 20 most developed economies of the world by 2020. While commending the apex bank for the innovation in redesigning the Naira bills and the immortalization of the three Nigerian women, Fumilayo Kuti, Margaret Ekpo and Gambo Sawaba on the proposed N5000 notes, CAPP argued that the new denomination would rather do a major damage to the already ailing economy and that the plan to transit to a cashless economy would be adversely affected. According to the civil society group, the proposal makes more political sense than economic, as there is no known economic theory, or study anywhere in the world, which proves that the higher a country’s currency denominations, the higher the economic growth. It said that the current economic growth in China, India and Brazil has no connection with high denomination of their currencies and neither are those of the USA, Japan, Britain, France, Russia and the like. “CAPP is of the opinion that the idea of restructuring the Naira seems a grossly
misplaced priority, coming at such a time when Nigerians are more concerned with the question of how to put three square meals on the table and battling with high costs of goods and services accentuated by the removal of subsidies on petroleum products. Although we understand that the CBN has the prerogative to take the decision, being the nation’s apex banking institution, it must take into cognizance ,the fact that whatever action it takes will not only impact on the CBN and its staff but on the generality of Nigerians who ought to have been carried along in the process, and we therefore see the move as anti people,”CAPP said. The group said that it believes that the introduction of N5000 will further broaden the divide between the rich and the poor of Nigeria, as millions of Nigerian citizens can hardly lay their fingers on a N5000 note. The organisation explained that it was regrettable that Nigerians were not consulted at any level on such a policy that will have impact on the way they conduct economic activities, transact business and make payments for goods and services before the measure was announced, adding that “this kind of approach tend to undermine the democratic ethos, making it seem as if Nigerians are not entitled to have a say in their affairs”. It therefore advised the CBN Governor, Sanusi Lamido Sanusi, to be cautious in his drive to execute the plan and shun any heroic tendency which might end up rubbishing some of his achievements. “We urge him to seek and listen to popular opinion, as this will earn him the respect of the masses and the good people of Nigeria. CBN should focus more on pursuing policies that will bring succor to the poor by way of access to finance and empowerment and not chasing shadows with changing currency denomination that will at the end of the day end up hurting the majority of the people in the long-run”, CAPP added.
Access Bank recently donated 10 Toyota Coaster Buses to the Ministry of Agriculture and Rural Development to boost the Agric Sector Transformation Agenda. From L-R, General Manager Access Bank Plc, Speedwell Ngoka (2nd left) , Group MD/CEO Access Bank Plc, Aigboje Aig- Imoukhuede presenting the keys to the Minister of Agriculture, Dr. Adesina Akinwumi and Permanent, Ezekiel Oyemomi
The group urged the minister to call the ViceChairman/Managing Director of Nigerian Agip Oil Company (NAOC), Ciro Pagano to order over the Nigerian Content, imploring the Economic and Financial Crimes Commission (EFCC) to also investigate activities of the company. In a statement signed by its president, Nelly Emma, the group praised the Petroleum Minister over her transparency in the industry and encouragement of indigenous companies, but urged her to sanction the Agip boss, over his alleged continued subversion of the Nigerian Content. According to the group, two years on after President Goodluck Jonathan signed the Nigerian Content Bill into Law; AGIP was still carrying on its operations as usual and had allegedly refused to carry indigenous companies along and assured the Minister of its preparedness to fully support her actions in enforcing the Nigerian Content to the letter. “Our findings have revealed
Group wants full implementation of Nigerian content law
Access Bank wins education tax award
T
he Niger Delta Indigenous Movement for Radical Change (NDIMRC) has urged the Petroleum Minister, Diezani Alison-Madueke to ensure proper implementation of the Nigeria content law.
that Pagano is bent on frustrating the Nigerian Local Content as he has ordered all his General Managers in charge of projects to put on hold all projects meant to be executed between now and 2015. He is doing this to spite President Jonathan; he wants the president who is spearheading the Nigerian Local Content to be out of office in 2015 before these projects are awarded as the Agip boss does not want the Local Content of the Federal Government to succeed,” the group said. To the group, the Nigerian Content is a boost to local participation in the oil sector. “Our investigations have revealed that indigenous oil servicing companies have invested so much in capacity building in the last few years and they should be encouraged so that their huge investment in the Nigerian Content will not be in vain.” It pleaded with the Petroleum Minister to know that Pagano and his Nigerian collaborators are not allowed to kill the Nigerian Content and the heavy investments of the indigenous oil servicing companies. “The Minister should not spare Agip and any erring multi-national oil company working against the actualisation of the Nigerian Content,” it said.
A Alison-Madueke
ccess Bank has been recognised for its contribution to educational development through consistent payment of
Ahmed Rufai
education tax. The award was presented by the Hon. Minister of Education, Prof. Ruquayyatu Ahmed Rufai at the Tax Payers’ Forum organised by the Tertiary Education Trust Fund to strengthen the Fund’s partnership corporate taxpayers in the country. The recognition is a validation of Access Bank’s commitment to responsible business practice and compliance with statutory directives. The Tertiary Education Trust Fund (TET Fund) was established with the strategic objective of using the two per cent tax paid from assessable profit of corporate companies to provide focused and transformative intervention in public tertiary institutions through effective project management for the improvement of quality of education in Nigeria. Bolaji Agbede, Group Head, Human Capital Development who received the award on behalf of the bank commended the leadership of the Fund for the strategic intervention in the education sector. “Access Bank as a responsible corporate
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Monday, September 3, 2012
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News citizen would continue to demonstrate leadership in responsible business practice as evidenced by its compliance with statutory directives and contribution to education which is one of the 5 major areas of interventions in its corporate social responsibility strategy,” Agbede said. Earlier in his address, Professor Mahmood Yakubu, Executive Secretary, Tertiary Education Trust Fund had described the corporate organisations that have been paying their education tax as worthy corporate citizens and examples to emulate by others. He averred that that their contributions to educational development have significantly impacted the economy and helped in the empowerment of our youths.
Jobome
... Staff emerges RIMAN’s president
A
ccess Bank’s Chief Risk Officer, Dr. Gregory Ovie Jobome, has been appointed as the President of Risk Managers Association of Nigeria (RIMAN), an industry body of risk professionals comprising both institutional and individual members in the financial services sector. By this appointment, Greg will steer the affairs of the association for the next one year and help in attaining its objective of building and sustaining a credible risk management environment through proactive advocacy, capacity building, knowledge sharing and promotion of high professional standards in the country. Speaking on his appointment, Greg said “It is an honor to accept these new responsibilities at RIMAN” He added “My colleagues in the executive council have performed excellently in repositioning the Association and I am delighted to have this opportunity of working with them to entrench best practice in risk management function in Nigeria.” This appointment is a
demonstration of stakeholders’ confidence in Access Bank’s Risk Management capacity. Greg is taking over from Dr. Emmanuel Moore Abolo, who was the bank’s former Chief Economist and Group Head, Market Risk. The Bank has made investment in the development of its risk professionals and the deployment of risk-sensitive infrastructure in several facets of its business. The Bank partners with highly regarded institutions including Dun & Bradstreet, PWC, KPMG and Oliver Wyman to continually broaden its risk management capacity. Prior to joining the Bank, Greg had consulted for Guaranty Trust Bank (GTBank) on a broad range of risk-related projects, including risk policy, risk strategy, risk automation and Basel II capacity building. Before now, he had also lectured at the University of Manchester Business School, where his interests covered risk management, corporate governance, finance and emerging economies. Gregory holds a first class degree in Economics from the University of Maiduguri and an MBA, with distinction, from the Obafemi Awolowo University. He also holds Master of Science, under a Bank of England Fellowship and PhD in Economics and Finance from Loughborough University, UK. Greg is supported in his role as Access Bank’s Group Chief Risk Officer by a team of highly regarded professionals who include Pattison Boleigha, Head, Group Compliance and Internal Control, currently President of the Committee of Chief Compliance Officers of Banks; Tijani Ahmad Aliyu, Group Head, Credit Risk Management, formerly of the Nigerian Deposit Insurance Corporation and Kola Ajimoko, Group Head, Operational Risk Management.
possession of a newly acquired aircraft as part of its capacity building efforts to strengthen its aerial surveillance of the different terrain that dot the nation’s borders combating smuggling in the nation’s borders. The acquisition of the operational asset is in furtherance of the Federal Government’s plan to improve the operations and contributions of the Service to the economy. A statement by the Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance, Paul Nwabiukwu, indicated that the Minister formally commissioned the aircraft at the domestic wing of the Nnamdi Azikiwe International Airport, Abuja on Friday. The Coordinating Minister congratulated the ComptrollerGeneral of Customs, Alhaji Abdullahi Dikko on the acquisition of the aircraft and urged the Service to work harder to achieve better results for the country, adding that “this aircraft is an investment for which the country expects good returns”. “The terrain around the country’s borders includes difficult to access riverine and mountainous areas which make monitoring and combating of the activities of the borders very challenging. “Several Customs personnel have lost their lives or sustained injuries during attacks by smugglers in recent times. “The aircraft, a jet, will boost efforts to provide more effective surveillance of these areas” the statement added. It will be recalled that the service recently adopted a change of strategy to concentrate more efforts at the nation’s borders even as it withdraws from the highways.
Airtel, Buyright Africa drive computer acquisition with Zinox Whizkid2 By Kunle Azeez
A Dikko
Nigeria Customs acquires aircraft to combat smuggling
By Tola Akinmutimi (Abuja)
T
he Nigeria Customs Service has formally taken
irtel Nigeria and a new Multi Platform technology company, Buyright Africa Dotcom, have entered into a strategic partnership to deepen computer acquisition among Nigerian students. The two companies said the poor examination results by students in JS3 and SS3 across the country would soon be a thing of the past following their intervention through a winning formula for students’ success tagged the “Airtel Zinox Whizkid2 bundle offer’’. The Zinox Whizkid2 which,
Leo
has consistently produced 91 per cent success average in the past two years, comes standard with Windows 7 Starter, is embedded with an Airtel SIM card bundled with FREE 500MB of three months data plan, over 100,000 simulated exam questions and answers for JAMB, WAEC, NECO, and Post UME examinations. The Whizkid2 also has a Zinox Card - a web based e-knowledge tool that empowers users with the world’s largest e-library service complete with over 2 million e-books downloadable in any PC. In addition, the Whizkid2 is stuffed with knowledge icons like Encarta Premium 2009 including Encarta Kid and Encarta Dictionaries; Skool Nigeria – interactive learning and teaching resources – a collaboration between Intel and Zinox; and Explore Nigeria - highly interactive learning resources with cutting edge technology endorsed by the Federal Government. Chief Operating Officer and Executive Director of Airtel Nigeria, Deepak Srivastava, said the joint intervention is in sync with Airtel’s drive for knowledge empowerment for the youth through the provision of affordable and quality education, as can be attested to by the success of its Adopt-A-School programme. “We are committed to a partnership that adds value to not only our customers but the entire citizenry especially the youths, who are the future leaders and nation builders of tomorrow. Our collaboration with a reputable company like Buyright Africa further underscores our quest to consistently put Nigerians indeed students and young professionals on the driving seat, as we move closer to fulfilling our vision of becoming the most loved brand in the daily lives of the people,” he said. Managing Director of Buyright Africa, Emomine
Mukoro, commended Airtel Nigeria for acting in the public interest by providing free 3 months internet access to the acclaimed knowledge power house, the Zinox Whizkid2. He assured that any child who manages to go through 60 per cent of the questions and answers on the Zinox Whizkid2 is guaranteed a minimum score of 80 per cent success in any o’ level, A’ Level and professional examinations. “By this lofty initiative, Airtel and Buyright are providing valuable resources to help students and their teachers, learn and revise for their exams and also explore the wider world of education. The objective is to provide a rich and integrated approach to teaching and learning aimed at higher grades at examinations, improved global ranking for education institutions in Nigeria, while enhancing IT competencies and making Nigeria’s school leavers competitive.”
MTN subscribers get personal security number
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eading telecommunications company, MTN Nigeria, has raised the bar in customer service by introducing MTN Security Number, which allows over 42 million subscribers on its network to solve any problems they are facing with regards to services on the network. The security number is aimed at significantly improving customer experience on the MTN network by empowering customers to resolve most of their issues using a number of avenues, including telephone and the Internet. Customer Relations Executive, MTN Nigeria, Akin Braithwaite, in a statement said that the MTN Security Number opens the door to a world of convenience and
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News
Braithwaite
Do It Yourself (DIY) for MTN customers. According to Braithwaite the newly introduced MTN Security Number gives customers full access to MTN’s entire service channels like Walk-in centres, Customer Care Help line 180, Web SelfService and My IVR-181. He said it also affords customers security and protection from mobile fraud and offers uniform authentication and unique identity on the MTN network. Braithwaite said the Security Number, which consists of 12 digits Customer Identification number and four digits Security Key that is totally unique and personal to each customer is already being forwarded to customers via SMS. He said customers who have registered their SIMs but have not received notification of their MTN Security Number, can visit any MTN Walk-in Centre closest to them or call MTN customer care toll free line – 180, adding that upon verification of ownership of the customer’s SIM, the security number will be sent to him/ her. Braithwaite stated that the introduction of the number is another first by MTN in the industry, adding that although the service was conceived a while ago, the process and system needed time to be designed, developed and tested to be error-proof to ensure a smooth implementation. The security number according to MTN is very important and customers must protect it, keep it private and not disclose it to anyone. MTN Nigeria he added will not be held liable for any loss or damage resulting from the disclosure of the number to
third parties.
NAICOM wants operators tap into N60bn micro insurance
By Omobola Tolu-Kusimo
T
he National Insurance Commission (NAICOM), consultant on the Market Development and Restructuring Initiative (MDRI), Yemi Soladoye have called on insurance operators to tap into the over N60 billion micro insurance opportunities available in the micro finance banks. Soladoye said that there are other untapped benefits for which can be explored by the micro insurers adding that micro insurance remains the panacea for poverty eradication. Soladoye who disclosed this in a seminar organised for insurance journalists on “Making Insurance Work for All: The Microinsurance Initiatives” in Calabar, Cross River State said
Soladoye
the development of micro insurance will develop insurance market at the grassroots. He urged insurers to develop products that suit the need of the public, adding that any product that does not take default into consideration would fail. He said research has revealed that Micro Finance Banks (MFBs) in the country presently have over 20 million customers, adding that the customers are good prospects for micro-insurance. He said the problem of insurance is that most people lack education on how it operates, adding that it is worrisome that most operators recycle products developed by their counterpacts. Soladoye said 90 per cent of insurance operators are confused about the difference between insurance education and advertorials, stressing that people do not buy insurance because they lack knowledge of the benefits it provides. Commissioner for Insurance, Fola Daniel while speaking on potentials of micro insurance, stated that the commission has put in place a draft guideline for micro insurance business and that the draft is being exposed to the industry, experts and other stakeholders for their inputs and contributions before the final draft is released to the industry. He further disclosed that the commission recently conducted a nationwide diagnostic study of micro insurance in collaboration with GIZ, a German Agency for Sustainable Development and Access to Insurance Initiatives (AII) and its local consultants. The NAICOM boss added that the group was divided into smaller teams and each team assigned to a specific region of the country. The reports turned in by the various teams have been received by NAICOM and it is being reviewed and analysed so that the commission can do the needful, he noted. He said, “Micro insurance holds great potential for developing the insurance sector in the country, taken into consideration the fact that the population size of the country gives an added advantage to the insurance industry to grow its market. The development of micro-insurance is indeed one of the objectives of the Market Development and Restructuring Initiatives (MDRI), a project of NAICOM designed to increase the premium being generated by the licensed insurance companies and make meaningful contributions to the nation’s economy. On agricultural insurance,
he said the commission expects appreciable development in the industry even though the Nigerian Agricultural Insurance Corporation (NAIC) is empowered by its enabling law to exclusively insure all subsidised agricultural risks in the country. “Contrary to the thinking in some quarters that only NAIC can underwrite agricultural insurance in the country, NAIC has no monopoly in this area and that an insurance firm that applied to underwrite agricultural insurance has been duly licensed to do it. He added that huge opportunities still exist in the areas of commercial unsubsidised agricultural insurance, he encouraged any underwriter desiring to underwrite the conventional agricultural insurance to do so provided it is within the ambit of the relevant laws.
Agric loan boosts production in Agric sector By Festus Okoromadu
T
he Central Bank of Nigeria (CBN) last week disclosed the positive role the Commercial Agricultural Credit Scheme (CACS) has played in boosting the production capacity of companies that have accessed the Fund so far. The apex bank put the total jobs created by State Government and private projects through the scheme at 38,711 comprising skilled (4,679), unskilled (16,340) while the balance of 17,653 were indirect jobs. According to report from the CBN, a total of 10 new oil palm processing companies who benefited from the scheme are currently producing 368,188 metric tonnes of refined oil per annum. Similarly, under the scheme, poultry farmers who got funds have increased egg production to 40,042,785 crates as at June 2012. The report stated that during the year under review, 117 projects representing 52.70 percent of the 222 private projects sponsored were visited to assess the level of utilization of CACS funds as well as the impact of the scheme on the projects. These projects altogether accessed the sum of N159.045billion under the CACS. Analysis of the data collected from the sampled projects shows systemic improvements in employment status, output and capacity efficiency of the projects. The report said the direct impact of the CACS on the agricultural economy include an unprecedented growth in the rice sub-sector under the
FLIGHT SCHEDULE Air Nigeria International (Lagos - London) Los- LGW (VK293): Tue, Thurs, Fri & Sat 11.55pm LGW-Los (VK292): Wed, Fri, Sat & Sun 10.50am
Arik Air Los-Abj: 07:15, 09:15, 10:20, 15:20, 16:20, 16:50, 18:45 (Mon-Fri/Sat/Sun) Abj-Los: 07:15, 09:40, 10:20, 12:15, 15:15, 16:15, 17:10, (Mon-Fri/Sat); 12:15, 15:15, 16:15 (Sun) Los-PH: 07:15, 11:40, 14:00, 16:10, 17:15, (Mon-Fri) 07:30, 11:40, 15:50 (Sat) 11:50, 3:50, 17:05 (Sun) Abj-PH: 07:15, 11:20, 15:30 (Mon-Fri) 07:15, 16:00 (Sat) 13:10, 16:00, (Sun) PH-Abj: 08:45, 12:50, 17:00 (Mon-Fri) 08:45, 17:30 (Sat) 14:40, 17:30 (Sun) Abj-Ben: 08:00, 12:10 (Mon-Fri/Sat) 08:55, 12:10 (Sun) Ben-Abj: 09:55, 13:30 (Mon-Fri/Sat) 10:50, 13:30 (Sun)
Aero Contractors Los-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) Los-Ben: 07:45, 11:00, 15:30, (Mon-Fri/Sat/ Sun) 12:30 (Sun) 15:30 (Mon-Fri/Sat/Sun) Ben-Los: 09:15, 12:30, 17:00 (Mon-Fri/ Sat/Sun) 17:00 (Sat), 14:00 (Sun) scheme. Over 10 percent of national demand has been met under the scheme. Among projects which improved the production under the scheme are; Ebony Agro increased its output to 25,600 metric tonnes per annum of paddy, Umza farms raised its production capacity from 22,000 metric tonnes to 38,000metric tonnes and employed 57 permanent and 160 casual staff, while Stine Industries in Nnewi grew its capacity to 144,000 metric tonnes per annum of perboiled rice. Other organisations that benefited and have shown evidence of impacting the economy positively according to the report includes: Grand Cereal limited, based in Plateau State, which now processes 18,000 tonnes of vegetable oil and 36,000 metric tonnes of poultry feeds per day. The company is said to have also completed its fish feed plant which has a capacity of 3,000 metric tonnes per annum. Savannah Sugar Company Limited, Numan Adamawa State, raised sugarcane output from 40,000 to 50,000 metric tonnes. BC
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Monday, September 3, 2012
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Peters
S.Africa cuts Iran crude imports in July
S
outh Africa imported no crude oil from Iran in July; customs data showed on Friday, a sign Pretoria is avoiding Iranian shipments until it can be certain to avoid European sanctions. In May, imports from Iran stood at 285,524 tonnes, but since June, Africa’s biggest economy has replaced shipments from Iran with crude from other suppliers, especially Saudi Arabia. South Africa used to import a quarter of its crude from Iran but has come under Western pressure to cut the shipments as part of sanctions designed to halt Tehran’s suspected pursuit of nuclear weapons. Imports of crude from Saudi Arabia stood at 966,607 tonnes, slightly lower than the 1.17 million tonnes recorded the previous month, with other supplies coming from Nigeria, Angola, United Arab Emirates, Israel and France. Total imports stood at 2.1 million tonnes. Even though the United States granted South Africa an exemption from financial sanctions after cuts in Iranian imports in recent months, Pretoria was still facing problems because of sanctions from the European Union, which does not provide any waivers. Following talks with the European Union earlier this month, Foreign Minister Maite Nkoana-Mashabane said South Africa would send a delegation to Europe to explain the impact possible sanctions would have on fuel supplies in the country and the region and explore alternative solutions. Energy Minister Dipuo
Peters has said that South Africa was also talking to Tehran about the prospect for Iran to insure its crude oil cargoes, which can no longer be underwritten by European insurance firms due to sanctions. It is to be seen whether South Africa will continue to keep imports from Iran at zero. The country already cut all shipments from that country in January this year but resumed them again the following month. The United States will also be watching to see if South Africa continues to keep imports from Iran at bay. When comparing monthly averages over a six-month period, South Africa imported around 249,115 tonnes of crude from Iran per month in the January to June period, compared with 282,688 tonnes in the preceding six months. Some South African refineries are designed to treat Iranian-type crude only, and analysts say they will be hard-pressed to replace those supplies with other products. Any disruption to crude imports could hit fuel supplies in South Africa, which has suffered shortages in the last year because of strikes and refinery problems. Refiners in South Africa include Shell, BP, Total, Chevron, petrochemicals group Sasol, and Engen, which is majority-owned by Malaysian state oil group Petronas .
to boost the US economy. “The Federal Reserve will provide additional policy accommodation as needed,” said Fed chairman Ben Bernanke in a much-watched speech. In particular, he suggested that the Fed may pump more money into the economy via so-called quantitative easing. Bernanke spoke at an annual conference in Jackson Hole, Wyoming. The Fed calls such measures “asset purchases”, where the central bank buys bonds to keep the long-term cost of borrowing down. “As the crisis crested, and with the federal funds rate at its effective lower bound, the FOMC [Federal Open Market Committee] turned to nontraditional policy approaches to support the recovery,” Bernanke said. “The costs of nontraditional policies, when considered carefully, appear manageable, implying that we should not rule out the further use of such policies if economic conditions warrant.” As in the UK, the US central bank has tried to support the economy by quantitative easing - buying in $2.3 trillion in bonds in two rounds. The last round of asset purchases ended last year. Many analysts believe the Fed will launch more bond-buying later this year, in a process referred to as QE3. “This is another clear sign that the Fed is ready to provide more policy stimulus,” said Paul Dales, a US economist at Capital Economics. “And the discussion of asset purchases and communication guidance in this speech suggests that QE3 and an extension to the Fed’s zero-rate pledge... are the tools most likely to be used.” With interest rates in the US close to zero for several years now, there is little scope for the Fed to use rates to stimulate the economy. Earlier this month, the Fed said its $267 billion (£170bn) programme to reduce longterm borrowing costs for
US mulls measures to boost economy
T
he head of the US central bank has said that he has not ruled out further action
Bernake
firms and households would continue for the rest of the year. In a move dubbed “Operation Twist”, the central bank buys longer-term bonds from retail lenders and swaps them for shorter-term bonds. Bernanke also lamented the fact that unemployment remained high, above 8% currently, despite the US economy returning to growth. “In light of the policy actions the FOMC has taken to date, as well as the economy’s natural recovery mechanisms, we might have hoped for greater progress by now in returning to maximum employment,” he said. The world’s largest economy added an extra 163,000 jobs in July, but the unemployment rate rose from 8.2 per cent to 8.3 per cent as more people re-entered the workforce but failed to find a job.
be impossible for anyone to say there will be abundant rainfall or not or a prolonged dry season... all of these are factors that affect production,” said NCCB managing director Michael Ndoping. “Our overall objective is to increase production to 350,000 tonnes by 2015 by raising yields per hectare from 400 kg (currently), to between 800 and 1,000 kg per hectare,” Ndoping said. Cameroon’s cocoa season runs from August 1 to July 31. The country harvested a record 240,000 tonnes in 2010/11.
President Karolos Papoulias
Eurozone unemployment at new high Ndoping
Cameroon cocoa output down to 8.33 per cent
C
ameroon’s total 2011/12 cocoa production fell 8.33 per cent to 220,000 tonnes compared with the previous season due to a prolonged drought and pest attacks, authorities in the world’s fifth biggest grower said on Friday. The National Cocoa and Coffee Board (NCCB) said in a statement that the central African nation exported 180,075 tonnes during the season, down from 200,084 tonnes in 2010/11. Cameroon’s only local cocoa beans grinder Sic-Cacaos, a subsidiary of Swiss chocolate maker Barry Callebaut, bought 30,000 tonnes during the season, down from 33,000 tonnes the year before. The remaining 10,000 tonnes are held in stock by farmers, hoping prices would go up, the NCCB said. At a ceremony to launch the 2012/13 cocoa season on Friday, authorities declined to give a production forecast. “We don’t have the technology to monitor weather changes so it will
U
nemployment across the 17-nation eurozone hit a record 18 million in July, the EU statistics agency has said. Some 88,000 more people were added to the jobless total, but upwardly-revised data for June meant the unemployment rate remained at 11.3 per cent. Eurostat said the 18,002,000 jobless total was the highest since records began in 1995. The highest unemployment rate in the eurozone was in Spain, at 25.1 per cent. The lowest was in Austria, at 4.5 per cent. Compared with a year ago, the unemployment rate fell in 10 eurozone countries, increased in 16 and remained stable in Slovenia. The largest falls were observed in Estonia (13.2 per cent to 10.1 per cent), Lithuania (15.2 per cent to 13.0 per cent) and Latvia (17.0 per cent to 15.9 per cent) Meanwhile, the highest increases were registered in Greece (16.8 per cent to 23.1 per cent), Spain (21.7 per cent to 25.1 per cent) and Cyprus (7.7 per cent to 10.9 per cent). Spain and Greece, which are struggling to tackle sovereign debt and banking crises, recorded jobless rates of more than 50 per cent in the under-25s age-group. BC
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A distinguished entrepreneur Olorogun (Dr.) Michael Christopher Onajirevbe Ibru, OFR, is an entrepreneur of no mean feat. At the age of 24, he took the bold step to register Laibru, a trading company which he formed in partnership with Jimmy Large, an expatriate he met in the course of his duties at UAC. Within a short period, Laibru grew to become a conglomerate of about 25 companies, reportedly the largest indigenous conglomerate in Africa. This is the story of a nonagenarian, who after five years of withdrawing from active business, lives on to relish the labour of his youthful age. By Bamidele Obafemi
O
lorogun (Dr.) Michael Ibru, OFR, is the patriarch of the Ibru family and first among seven children of the late Peter Epete Ibru, a missionary worker, who also was a staff at Igbobi Orthopaedic Hospital and late Janet Omotogor Ibru, a fish trader who traversed the creeks of the Niger Delta to transact business just to make ends meet for her family. Olorogun Michael Ibru, once described by his children and grandchildren as a pillar of strength, a visionaryguiding hand, a moulder of character, an educator, a lover of children especially the family, a humanitarian per excellence, a philanthropist without recompense, a grassroots organiser and community leader, and a true patriot without equal, was also described by one among his Urhobo clan, a poet-musician, as the Mungo Park who opened channels of riches and investment for Africans. Michael Ibru, who some close
allies believe was born great, truly began to exhibit signs of greatness from his childhood days. Going by a story told about him by his immediate younger brother, the late Felix Ibru, the first civilian governor of Delta State and also one time senator representing Delta Central senatorial district in the National Assembly, Olorogun Michael Ibru was obviously destined for greatness, given his inborn tendencies to want to find out everything about anything. late Felix recalled with amusement, a peculiar childhood experience he had with Michael in the company of his mother, when a wealthy maternal uncle, Ovedje Osadjere, asked his young nephews whatever they would want him to do for them. Michael, Felix disclosed, rushed forward, and rather than ask for material gifts that would be of immediate help to the struggling family then, he simply took permission from his uncle to pluck some cocoa pods from his farm. The purpose for the request according to Felix was for Michael to carry out an experiment with the liquid from the pods to see if he could brew some drink from them. Ovedje
Ibru
was stunned by the request and granted his nephew’s request but Michael’s mother who stood transfixed was not amused at all by her first child’s request. Such curiosity pushed Michael Ibru to uncommon heights. Michael Ibru attended the famous Igbobi College, Lagos
between 1948 and 1951. During the period, he not only distinguished himself in academics, he also excelled in extracurricular activities such that in his last year in school, he was appointed the senior prefect, a position usually reserved for the best students with leadership
traits. The ingenuity of Olorogun Michael Ibru manifested itself for the first time at Igbobi College in 1948 when he moved up meteorically to Secondary Class II straight from the Elementary School without the usual preamble
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of Secondary Class I. And then in 1951, his fourth year, on a study that normally lasted six years, he passed the Cambridge School Certificate Examination with resounding distinction in Division One. Following the same rare path that is meant only for exceptional people, Michael Ibru, directly after leaving Igbobi College, secured a job in the United African Company (now UACN), as a manager-intraining. There again, this gifted man, Michael Ibru, set another pace for his peers, for he was one of the very few fresh school leavers to be so appointed to posts of responsibility by the UACN. Between 1951 and 1956 when he worked with the United Africa Company, a trading consortium that once bore the name of Royal Niger Company, Ibru had an intense internship that effectively prepared him for the bigger world of entrepreneurship. In 1956, a few years after joining U.A.C, he resigned from the company and at the age of 24, the young Michael formed Laibru, in partnership with an expatriate, Jimmy Large, whom they both worked at UAC. After engaging in successful general trading, in 1957, Michael Ibru discovered that the frozen fish market was a fertile market with the potential to deliver returns above the market rate. However, it was a tough market to penetrate, at that time, as many expatriate firms and Nigerian traders were lacking and some were not interested in the
Ibru
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Monday, September 3, 2012
Where other older Nigerian commercial capitalists were faithful to readymade products, principally importing industrial goods from the United Kingdom, Ibru was far more daring in prospecting for new products to sell
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market. Where other older Nigerian commercial capitalists were faithful to ready-made products, principally importing industrial goods from the United Kingdom, Ibru was far more daring in prospecting for new products to sell. His greatest commercial innovation was the production and marketing of frozen fish. hence Ibru ventured where no other Nigerian had dared. In the 1950s, frozen fish (once unsuccessfully pushed by the foreign-owned West African Fisheries and Cold Stores) had a poor reputation in Nigeria. When Ibru introduced frozen fish in 1957, its detractors,
including meat sellers, labelled it “mortuary” fish. He waged a vigorous campaign that successfully persuaded the whole nation that frozen fish was good, establishing distribution depots throughout Nigeria. Indeed, in the early 50s, the Commonwealth Development Corporation, had attempted to establish a fishing venture in the Nigerian waters with cold-storage facilities and a distribution operation through the West African Fisheries and Cold Store but failed because fish stocks were reportedly insufficient off Port-Harcourt and the boats were inappropriate, coupled
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with marketing and distribution challenges. Noticing that fish held little attraction for the European trading houses but despite the challenges, Michael Ibru felt he could put extra effort communicating with general traders, who played key roles in products acceptance. His early involvement with the Swiss and Liberian partners was unsuccessful. But determined to succeed in this business, Michael formed the Ibru Sea Foods, an importing company solely owned by himself. He rented cold-storage facilities at the Ijora Wharf in Lagos from the UAC, using the facility at night and traded from the back of a Land Rover. Later, he built his cold storage facilities first at Creek Road, Apapa. By the mid-1960s, fish trading had become the traditional money maker for the Ibru organization. Though he had other profitable interests such as transportation and construction, fish trading helped him secure financing and other forms of capital to engage in large scale trading. In 1963, Michael Ibru chartered his first fishing vessel from Taiwo of Japan and two years after, he founded the Osadjere Fishing Company in partnership with a Taiwanese company, one of the largest fishing companies in the world. The company began with three long-distance freezer trawlers. Taiwo held 30 percent of the equity and provided the management for deep sea trawlers and shrimpers. At a point, the company experienced considerable difficulties as at a time, it had to cease operation until 1974, when it was re-organised with a fleet of between eight and 25 trawlers. By the end of the 1960s, Michael Ibru had branched out fully into other areas of the economy. In 1969, a transportation company, called Rutam was acquired as another major arm of his business as it engaged in marketing and distribution of Mazda, Saviem, Tata and Jeep brands of automobiles. At a time, Rutam was appointed by the Federal Government, as the major distributor of Peugeot brand of vehicles in the country. In 1965, Michael Ibru started a small palm-oil plantation in the old Bendel State as well as a citrus and pine-apple farm on a 800-hectares site, which for some time, supplied the Lafia Cannery in Ibadan, Oyo State. He acquired the Mitchell Farm in 1973 and at the time, the farm was the largest producer of dayold chicks and processed poultry in West Africa. The company was acquired from the American owners who had established the farm in 1963. By 1974, Michael Ibru extended his business adventure with the acquisition of Nigerian Hardwoods, a logging and sawmilling and wood processing company, at a low price from the Lathem Group, UK. The firm was originally established in 1919 and exported hard wood logs. Olorogun Michael Ibru’s early success in business can however be attributed to the assistance he received from his family. Felix himself served as part-time clerk
for Laibru, while his mother in her early life was a long-distance trader in the creeks of the Niger Delta where familiarity with fish was a necessity. Her prowess in the pricing of the new “Ibru” frozen fish was invaluable. Perhaps, the unsung hero in the initial push to huge success by the eldest of the Ibru siblings was their austere father, Peter Ibru, who ensured that Michael’s monies were safeguarded in a vault over which this patriarch kept watch. Michael Ibru’s success in his endeavour was indeed phenomenal. In the book, The Advance of African Capital: The Growth of Nigerian Private Enterprise, Tom G. Forrest correctly singled out the Ibru Organization (along with the Ibadan-based Modandola Group of Bode Akindele, as prime exemplar of pioneering capitalism in Africa and Nigeria. The lessons of the early enterprises were leveraged into a huge expansion that ranged well beyond the original frozen fish venture into Construction, Petroleum Oil Storage and Marketing, Aviation (Aero Contractors), Banking ( erstwhile Oceanic Bank), Agriculture (Mitchell Farms, palm oil production, pineapple production), Publishing (The Nigerian Guardian), Beer brewing (in his hometown of AgbarhaOtor). Other subsidiaries in the Ibru’s vast business empire include Ibru Sea Foods Limited, Aden River Estate Limited, Ibache (Ibafon Chemicals) Limited, Ibafon Oil Limited, Ibron Nigeria Ltd; Ibru Merchandise 33 Limited, Ikeja Hotels Plc. (Lagos Sheraton and Federal Palace Hotels), Societe Benninoise De Produits De Mer (SOBEPROM), Zabadne and Company Limited, Osadjere Fishing Co. Limited, Marine Harvest Limited, Spibat Nig. Limited, Rutam Motors Limited, Nitrec Limited, Aquamarine Finance and Securities Limited, Queens Petroleum Company of (Nig.) Limited, Express Processing & Packaging Limited, Waskar Ltd., Nigerian Hardwood Co. (Nig.) Limited, F. Steiner & Company Limited, Blue Water Marine, Delta Freeze Limited, Lillershall (Nig.) Ltd, Superbru Ltd, W.F. Clarke (Nig.) Limited, Boardroom Service Limited, Minet Nigeria Limited (insurance brokers), Atlantic Estates Limited, Societe Camerounaise De Product De Mer-SCPM Douala among many others. Today, the Ibru Organization, a pool of continuing companies initiated by Michael Ibru, remains unequalled in the quality and types of products that it offers to the public. “Ibru” has become a brand name that connotes genuine quality. A source familiar with the Olorogun said the Ibru coinage has survived because it is based on genuine products that the people need. “The Ibru genius has been Michael Ibru’s brilliant ability to fathom the unmet needs of the Nigerian population and to find ways to meet those needs”, he added. Meanwhile, the brilliant performance of Olorogun Ibru both in business and life can not only be attributed to his brilliance
and ingenuity but to the positive influence from his parents. His mother, Janet Omotogor, a close family source disclosed, instilled discipline in her children, being a disciplined woman herself. The late matriarch of the Ibru family who was the last child of a wealthy merchant, Osadjere of Olomu, a trader of enormous influence in eastern Urhobo affairs in early colonial times, was a role model, which some said could be the reason why Michael and his other surviving siblings are today role models in their chosen careers. “She was a good counsellor, no wonder she gave good advice to her children who are today embodiment of good things of life. Janet Omotogor Ibru must have followed the biblical injunction which says: “Train up a child on the way of the Lord and when he grows up, he would not depart from the way of the Lord,” another close associate of the family opined. On the other hand, Michael must have picked the brains of his late father, said to be a lover of knowledge and religion, who sojourned extensively in his quest for education and spiritual illumination, in virtually all parts of the country in his bid to propagate those values. Besides, it is believed that the philanthropic tendencies of Michael was a virtue he inherited from his grandfather Chief Igbru, the Olotu-rode of Awirhe-protector of the clan, whose name-Igbruin its genealogy, means, “ a large wide cloth used for covering oneself and others.” Michael’s generosity has been of immense help to a good number of Nigerians especially to his own people-Urhobo. Sources familiar with him said he has employed his wealth for the material and intellectual well being of his fellow men. “In his generosity, the hungry have found food to eat; in the largeness of his heart, the poor have found protection, in his meekness, the sorrowful have found solace”, a close associate revealed. Business Courage also gathered that out of his love for knowledge, Olorogun Michael Ibru donated a college – Agbarha College which was later re-named Ibru College, to his people. Besides, the trail blazer of the Ibru dynasty, Michael, at different times, donated classroom blocks, vehicles and money to various educational institutions and charity organisations; awarded several scholarships to deserving Nigerian students in secondary schools and institutions of higher learning both in Nigeria and abroad, and sponsored various sporting activities in order to ensure an even development of the mind, soul and body. Besides education, Olorogun Michael is touted among his people to be a major pillar in the economic empowerment of the Urhobo nation. This is how a very familiar source who wants to be anonymous described Michael’s contribution in this vital aspect of human existence. “Urhobo men and women have profited at many levels since the rise of the Ibru brand in the second half of the 1950s. First, Urhobo market women were among the first batch
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of Nigerians to embrace the “Ibru” frozen fish. Many of them rose from relative poverty to higher economic brackets because they participated in the new Ibru ventures from market stalls”. Among the educated, he mentored professionals that rose to become financially independent in their chosen fields of endeavour. Incidentally, most of these Urhobo indigenes at one time or the other worked within the vast conglomerate of the Olorogun Michael Ibru. “There were more direct beneficiaries from Michael Ibru’s openness to his Urhobo people. These were the many Urhobo professionals who joined the Ibru organization. Many of them left the Ibru organization to pursue their own independent dreams constructed with the aid of ambitions conceived in the Ibru organization. A full list of Urhobo professionals who worked and prospered in the Ibru organization will fill many pages. Notable among them are Robin Imishue, Sam Okudu (half-Ijaw, half-Urhobo), Albert Egoh, Patrick Okitiakpe, Wilson Nakpodia, etc. Perhaps another effective way of representing the scope of these benefits is to say that all twentytwo sub-cultures of Urhoboland were (and still are) represented in the Ibru organization”, our source disclosed. Meanwhile, investigations carried out by Business Courage on the impact of Michael Ibru on his people reveal that the Urhobo have a more particular reason for admiring Michael Ibru. This is because well up to the 1950s, the image of the Urhobo was not among the best in the Nigerian nation. With the accomplishments and competence of Michael Ibru especially, as well as the achievements of other giants of Nigerian commerce and economics as David Dafinone and Gamaliel Onosode, the Urhobo image has been strengthened in many ways. For that, the Urhobo have embraced Michael Ibru as a historic figure. There is more in the love bonds between the Urhobo people and Michael Ibru. Michael Ibru himself embraced the Urhobo culture and Urhobo cultural organizations, especially Urhobo Progress Union, in a manner that pleases the Urhobo people. It is Michael Ibru who popularized the use of the title “Olorogun” in place of “Chief.” There is however an attribute that has been widely linked to Michael Ibru’s multifarious successes. It is the abundance of his trust in his parents, siblings, children, wives, fellow Urhobo men and women, and indeed fellow Nigerians. This, indeed, is a rare attribute in an environment where many successful businessmen and women are deemed self-centred and are fearful of including others – even in their families – in their business plans. What is fascinating and remarkable about Michael Ibru is that he was never afraid to share successes with others. His faith in others enabled him to bring in trusted siblings and others to share in running major segments of the Ibru organization. In the end,
Ibru
the inclusion of Michael Ibru’s siblings, wives, children and associates in the management of the companies of the Ibru organization is seen as a move that has greatly enriched the totality of the Ibru clan. However, Michael’s contribution to the well-being of humanity has not gone unnoticed as he has been honoured both locally and internationally. For instance, in full recognition of his dedicated service to the cause of education and his vast capacity and willingness to continued sponsorship of that cause, the former Midwest State government appointed Olorogun Michael Ibru
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member of the Provisional Council of the University of Benin in 1975. And for his business enterprise beyond the shores of Nigeria, he was also appointed Member of the Economic Cabinet Committee of the former Midwest State of Nigeria. This was aside from being a member of the African Development Bank President’s Round Table of Businessmen in Africa. Olorogun Ibru was also a member of the Business Advisory Council of the International Finance Corporation (IFC). His exploits in the field of business have also afforded him the opportunity to serve as Council member of the following bodies:
Michael must have picked the brains of his late father, said to be a lover of knowledge and religion, who sojourned extensively in his quest for education and spiritual illumination, in virtually all parts of the country in his bid to propagate those values
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Lagos Chamber of Commerce and Industry and the Nigeria-United States Business Council. His efforts at developing the economic landscape of Nigeria and stemming the tide of poverty have not gone unnoticed, as he has a deluge of recognitions and awards for his enterprise. Among the awards are: Officer of the Order of the Federal Republic (OFR) in 1981; Outstanding Businessman Award of the Nigerian American Chamber of Commerce and Industry, 1983; Honorary Doctor of Laws (Hon. LL.D.) of the University of Benin (1978) and University of Ibadan (1978), Doctor of Agriculture (Honoraries Causa), University of Agriculture, Abeokuta, 2004. In addition, Olorogun in 2003 won the Zik Prize in Leadership and in 2005; he received the prestigious Dr. Kwame Nkrumah Excellence in Enterprise Award From whichever perspectives one sees Olorogun Michael Ibru, it is glaring that the mogul is indeed a great man with a very large heart. However, as illness compels Olorogun Michael Ibru to sojourn into the sunset of his life, the admirers of this great entrepreneur who turns 92 later this year can be rest assured that his legacy is secure in Nigeria’s history of mercantile capitalism. As for the Urhobo, it is fair to say that in their cultural imagination, Olorogun Michael Ibru stands alongside Mukoro Mowoe in the pantheon of Urhobo heroes. BC
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10 Questions
Improved budgeting is key to succe Five years into the implementation of the health Insurance scheme in the country,there are indications that the years ahead may offer greater prospects for the scheme if the appropriate structures and funding are provided, particularly by the private sector and state governments to drive the scheme. In this interview with TOLA AKINMUTIMI and MARCUS FATUNMOLE, one of the leading players in the operations of the scheme and Managing Director of Ultimate Health Management Services, Lekan Ewenla, speaks on how the scheme has fared and what could be done to improve its efficiency. Excerpts:
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s a key stakeholder in the National Health Insurance Scheme, how would you assess the initiative in the last five years? The journey so far could be said to be fair with a lot of rooms for improvement. Let us look at it this way, the National Health Insurance Scheme (NHIS), was developed to cover every living citizens of this country, and the government decided that the scheme should take off with the Federal Government employees and thereafter, that it should be extended to all other sub-sectors of the economy. The state governments as well as those at the local government level are expected to key into it. The organized private sector is also part of the scheme. So, there is the need for it to be extended. Let us not also forget that health insurance had been in this country before the advent of the formal sector scheme; it is not as if it took off from that scheme. So, we had been managing care for the organized private sector. What the Act did was to add strength to the scheme to give it a lot of power to be extended to everybody. Looking at the implementation at the federal level, we are aware that not all the MDAs have enrolled their employees. What is your association doing to improve stakeholders’ support for the penetration of the scheme at the grassroots? Let me address this question in three ways. Number one is that, the agencies that are yet to key into the programme, particularly at the federal level where we have two types of Federal Government agencies; those that are self-funded and those funded by the government. Those that are funded by the Federal Government are automatically on the programme because their deductions are pooled or sourced at the beginning of the budget preparation and this is warehoused by the NHIS from the Office of the Accountant General of the Federation. Now, for those that are self-funded, it is the individual health management organizations that will have to approach them and let them understand that the fact they are self-
funded agency does not preclude them from the health insurance programme. It is until when this is done that we will begin to look at it with improved prospects. There are a few of them that are on the scheme while there are also some of them too that are yet to come on board. Are you saying that it is the responsibility of the HMOs to get groups and organisations enlisted into the scheme? It is the Health Maintenance Organisations (HMOs) that are the key drivers of the Health Insurance programme. The NHIS is just the regulator. It is the individual HMO that will have to reach out to identified entities that are yet to key into the programme, approach the leadership to let them understand the need and importance of buying health Insurance for their workers and the fact that it is statutorily compulsory that it should be done. The second point is the issue of the state. You cannot leave out the local governments from the state because the few states that are on the programme now, considering the running of the programme, they pool the local governments along. So, the local government is part of the state. What is important is the need for the HMOs as well to meet with individual Chief Executives at the state level. Let them appreciate and begin to look at the importance of providing these services for their workforce. The most unfortunate thing about this country is that, we play politics with everything. Ideally, health shouldn’t be something that we should play politics with, because we do say ‘Health is Wealth.’ Having said that, I know by the time the Act is reviewed, and it becomes compulsory for everybody and appropriate structures are put in place to ensure that everybody keys into it, things would become much better. How effective is the NHIS in ensuring compliance and instilling sanity into the programme and don’t you think that what the programme requires is
Ewenla
regulation to make it more efficient? I want to personally commend the NHIS leadership for what they are doing to strategically sanitize the industry. As I speak with you, we have about three categories of HMOs and by the end of this year; the categorization of the HMOs should be concluded by the NHIS. There are HMOs that could choose to be state HMOs. If you want to operate from Lagos, you stay in Lagos, if you want to operate in Akwa-Ibom, you stay in Akwa-Ibom, wherever you think you can operate from within the country, you will operate from there; the share capital for that is N100 million. There is going to be regional HMOs. If you choose to operate within a region, you are at liberty to do that. They’ve introduced all of these and the parameters are equally set; it is N200 million for a regional HMO. But, if you are an HMO that is running the scheme for the Federal Government employees, we call it Formal Sector Social Health Insurance Programme; you are automatically a national HMO. The share capital for that is N400 million.
Would you say the Federal Government is doing enough in implementing this programme, given other nations that have very large chunk of their budget committed to health insurance? I belong to the school of thought that always believes there are rooms for improvement in whatever you do, and I am naturally a positive-minded human being. From what I have seen on ground in the last couple of years concerning health care delivery in this country, things are indeed, moving up. It is the pace in which things are moving that I think could be discussed or addressed. It may be slow, and certainly it is indeed, very slow. Recently, we had the National Council of Health meeting in Abuja. A lot of issues, including this matter, were raised and the communiqué issued at the meeting is being worked on. The government certainly will look at what next? Right now, the National Health Bill is still outstanding for endorsement; it will also be looked into. There are a lot of issues that will be looked into. I can assure you that the Federal Government is looking at some
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essful health insurance – Ewenla
of these issues holistically and looking at how best the issue of improved budget for health insurance can be addressed. Up till last year, the issue of capitation fee used to be one of the major challenges in the industry, there were accusations and counteraccusations between the HMOs and the owners of health facilities; what is the state of relationship between the two parties now in terms of capitation fee payment? When you say capitation fee payment, it sounds generic because I will expect that we address some key perspective issues. Let me put it in the right perspective. Capitation payment is a certain amount that is being earmarked to be paid to the hospitals on a monthly basis to render primary services to the enrolees, either they come or not. It is a social scheme. Don’t forget the fact that on this scheme, there are two key risk bearers. The hospitals bear the risk at the primary level by pooling the capitation to provide primary health care services to the enrolees, while the Health
Maintenance Organizations bear the risk at the secondary level by pooling a certain amount to provide secondary and tertiary services to the enrolees on this scheme by referral; and the hospitals needed the authorization of the HMOs before they could migrate to that level. Now, that is an aspect of the capitation. We now need to look at prompt settlement of this capitation by the health maintenance organizations to the hospitals to render satisfactory services. That is equally another aspect of the capitation that may be addressed. The other aspect of the capitation is adequacy of the amount being paid to the hospitals as capitation. I know that at the initial stage, N550 was being paid upfront as capitation to the hospitals. About two or three years ago, there were a lot of agitations from the health care facilities providers, requesting for the review of the capitation. And, if you ask me, I will tell you why their agitations are germane. The cost of rent two years ago is not the cost of rent today, even fuel that we use to move our vehicles around is not sold at a permanent price; things keep moving. So, why should the capitation be static? But, that has been addressed and that is kudos to the leadership of NHIS because it clearly shows that they are the listening type. There are platforms to fill the pulse of health care facilities and the HMOs; not only that, even the public. When they felt the pulse of the providers and discovered there was the need for it to be reviewed, as I speak with you, it has been reviewed from N550 to N750. Why do you think state governments are reluctant in endorsing the NHIS scheme? I will address the question this way. The introduction of NHIS should be laced with a lot of proactive approach and with a lot of flexibility. I will buttress it this way: when the formal sector took off in 2005, it was based on certain percentage of what
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The HMOs are the key drivers of Health Insurance programme in Nigeria. Before you could be seen playing this role accordingly, you must have passion for the well-being of Nigerians. It is not all about money
it required being contributed by the Federal Government with five percent supplemented by individual staff. It was a social scheme. I remember that when we started discussing the need for the state government to hold on to the programme, the main question that was on the lips of those governors was “Can we afford it”. The next question we asked ourselves then as HMOs was ‘must we sell Federal Government’s product to the state government?’ And, the answer was No. So, that means, we should address affordability because Health Insurance itself was introduced in the country to make health care affordable, accessible and equitable. If we are to address those three key issues, let’s start from affordability. Right now, we market several products even to the people in the informal sector and it is as low as N15, 000 per person, per annum. We have products of N35, 000, we have N40, 000. There are those of N50, 000, N100, 000 and N200, 000 per person, per annum. That means the size of your pocket determines what you buy. Why don’t you adopt the same approach to the introduction of the social health insurance programme across the country so that everybody can look at what is affordable to them. That means it is not compulsory that we must sell what the Federal Government is giving its employees to the state employees. Let’s face the reality, the salaries differ, income differs and the budgets differ. The good news is that the management of NHIS is beginning to think in this line, such that as a state government, you are encouraged to come on this programme; just tell us what you can afford. We can now put our team of experts together to look at what your resources can afford in terms of health care package. What does the current trend hold for meeting the Universal Health Coverage by 2015? Let me tell you this, when you talk
of Universal Health Coverage, what exactly are we talking about? We want to make sure that everybody that is still breathing is given access to quality health care by 2015. How do we achieve this? If there are no structures in place to ensure that everybody sees it as the way to go and buys into it, it may still be difficult. Now, we are working on the NHIS Act to make Health Insurance compulsory. Once that is done, I believe a major milestone would have been covered. Also, we have been talking about a certain percentage of the budget being earmarked for health care services, especially to provide services for the aged, the vulnerable group and all of that. There must be decisive action on this. We should talk less. Once there is enough will to capture these vulnerable groups, then, we are moving in the right direction. You said that quacks are also in this business of health insurance services. How do you think this menace could best be addressed? When the Health Insurance programme was introduced, there were quite a few HMOs. Now, I want to emphasize on the roles of the HMOs on this scheme. The HMOs are the key drivers of Health Insurance programme in Nigeria. Before you could be seen playing this role accordingly, you must have passion for the well-being of Nigerians. It is not all about money. When the scheme started and they saw how it was activated, NHIS pooled lives together and allocated on equal basis to the existing HMOs. People thought that was going to be the standard practice. There were a lot of requests for licences which was given with proviso by NHIS. As far as 2006, when we applied for licence, NHIS told us directly, ‘We don’t have lives to allocate; we are not here to do captive business. If you get this licence, it is meant for you to go out there and do your marketing.’ Having said that severally, some HMOs still felt NHIS could still pool the states together and allocate. But, NHIS said no. And, they have been saying no. That is to tell us that having the licence is just an aspect, knowing how to do the business is very key. Who is competent to run a health insurance service? Now, on the issue of who is competent to run a health insurance organization? I want to put it on record that health insurance scheme is not the doctor’s business. That is, it doesn’t have to be a doctor because we are not talking about clinical practice in the health insurance industry. What we are talking about is managed-care; health care financing. We don’t treat patients. We pool lives together; allow them to make their choice from the network of hospitals that we have. We develop health care packages, let individuals choose the ones they think they care afford and we send those health packages to their hospitals of choice. BC
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Can the new deal save the
CDMA market? With the planned merger of Starcomms, Multilinks and MTS in a projected $200 million revival deal, hope of recovery seems to be on the way of the Code Division Multiple Access (CDMA) subsector. But will CAPCOM be able to weather Nigeria’s CDMA operations storm? By Adejuwon Osunnuyi
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fter over four years of almost inactivity in the sector, the Code Division Multiple Access (CDMA) division of the Nigerian telecommunications industry is in the news again. Unlike the daily reports of loses which it has been recording in terms of both revenue and subscriber base in a Global System of Mobile (GSM) dominated sector, this time around, it is cheery news. There seems to be a light at the end of the tunnel. Largely seen as a revival bid that would soon launch the CDMA’s sector into reckoning, Starcomms, MultiLinks, and MTS are reportedly in the final stage of a merger arrangement that is expected to produce a strong network operator to be known as CAPCOM. For a sector that has suffered so much dwindling profiles especially in terms of funding, the coming of the new outfit, CAPCOM, spearheaded by a group of core investors with the injection of about $200 million capital investment is expected to see the pioneer segment of the telecoms industry bounce back. However, rather than looking at the chances of becoming a strong force in the voice segment which it is generally known for, CAPCOM is strategically exploring the data market as the emerging deal that puts the three CDMA operators into a single pot has its greatest potential in its aspiration of becoming Nigeria’s biggest retail broadband operator, offering faster fibre connections and triple play. Offering triple play services and creating an offering that is aimed squarely at Nigeria’s significant middle class, particularly in Lagos, Abuja and Port Harcourt, the spread of towers being put up to
run the three CDMA networks is expected to give it a unique, local access delivery network. To achieve this aim, CAPCOM aspires to acquire a 20 Mhz of spectrum in the 1900Mhz frequency that will allow it become the first national LTE broadband operator. To a large extent, being a national broadband operator, it hopes to take the existing 2012 base of 160,000 data consumers each paying $24-32 a month to a base of 2.5 million customers by 2016. According to the inner working arrangement revealed by an insider to the deal, “ With other competitors each constrained by having not more than 10Mhz of spectrum, currently congested with voice and SMS traffic, Starcomms is poised to become the market leader in mobile high speed broadband services.” The source explained that the strategy of the investment is “to invest $50 million in the equity of CAPCOM, transferable into the ordinary shares of Starcomms Plc, a 10-year established Nigerian telecoms mobile CDMA operator, with spectrum in the 1900MHz range—alongside $150 million of equity derived from CAPCOM’s existing shareholders.” Analysing the deal further, the document states that, “The $200 million investment funds the acquisition of Multi-Links and MTS; recapitalises Starcomms and provides it with sufficient capital and liquidity to finance its existing creditors and working capital; and permits it to expand its existing network through the introduction of 4G/LTE technology to become a major provider of Broadband services to Nigeria’s burgeoning consumers.” According to the new deal, the source, who was privy to
the arrangements, explained further that the $200 million is split into $50 million to buy Starcomms Plc and $150 million in equity from Capcom’s shareholders. The emerging company has as its shareholders as Gibraltar-based MBC with 53 per cent stakes, Middle East Capital Group, 25 per cent equity, while Helios Investment Partners holds 11 per cent of the shares. Others include Oldonyo Laro Estate with five percent; Bridgehouse Capital Limited with three per cent; Asset Management Company of Nigeria, (AMCON), two per cent and Private Equity Investors with one per cent. MBC is a Gibraltar-registered trust of 20 years standing, whose portfolio companies manage over $1.25 billion in the asset
Eleso
management and commercial banking sectors, primarily focused in the emerging markets. Middle East Capital Group is a Lebanon based investment company, majorly owned by First National Bank of Lebanon. Helios Investment Partners is an African-focused investment firm. It manages funds in excess of $1.7 billion in listed investments and leveraged acquisitions across Africa. Oldonyo Laro Estate is an exclusive tourist destination in Kenya owned by Dane Jan Bond Neilsen, who is quoted as saying it is “never expected to make a profit.” Bridgehouse Capital is described as an Isle of Man based while AMCON was set up by the Nigerian government to handle nonperforming assets of Nigerian
banks. Investor, CEO, chairman and co-founder of companies in the property, industrial, retail, financial and technology sectors, Stefan Allesch-Taylor, who sees himself as a “financial engineer” is being touted as a possible candidate for chairman of CAPCOM. AlleschTaylor owns Nordfinanz Bank AG, while he is also a partner in Clearbrook Capital Partners LLG. He was a co-founder of Coffeesmiths and Executive Producer of the film Africa United. Being proposed as the Deputy Chairman is James Dodd, Managing Director of Anthem Capital. During the 1990s, he was closely involved in the privatization of telcos from the banking side. While the current interim Chief Executive Officer of Multi-Links Nigeria, Demola Eleso, whose background is in the engineering side of telecos, is expected to become the CEO, the company is proposing Nicholas Topham as the Director of Operations and Strategy. From September 2008 to December 2009, Eleso was Head of Technology for Vodafone Qatar while between 2001 and 2005, he was the Chief Technical Officer of MTN Nigeria, the country’s largest operator. From 1995-2000, he was Director of Engineering for Vodafone Spain. On the other hand, Topham, the proposed Director of Operations and Strategy, has been a strategic business advisor to major telcos in the ICT sector including: Telestra, BT, Teleglobe/Tata, TeleCity, Go Plc, Globetel, and Global Switch. He was CEO of Nuetele Communications, a start-up fibre NGN service provider of VoIP, Internet & IPTV and Data Center Services and founder and CEO of Equitel Communications, an international B2B
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communications company. He was a director of the Global Communications and Entertainment practice of Arthur Anderson (now Deloitte), prior to which he was Head of Strategy & Business Department for BT. Meanwhile, to pave way for the potential capital reconstructing exercise of one the companies in the merger deal which is on its bourse, the Nigerian Stock Exchange had placed the shares of Starcomms on full suspension. As a matter of fact, investors in Starcomms Plc have not reaped dividends since it was listed on the Nigerian bourse in 2008, while its share price has dipped by over 96 per cent. To telecoms experts, with the CAPCOM now in the offing, there is optimism that the CDMA sub-sector would bounce back with improved services. Most industry watchers, players and stakeholders who spoke with Business Courage were of the views that the new development in the CDMA landscape would enable the sub-sector compete favourably in a GSM dominated telecoms market. It would be recalled that largely due to a feeble financial muscle, CDMA operators have over the years suffered from the stiff competition from GSM operators. While subscribers’ preference for GSM telephony, low capitalisation, poor promotion of the CDMA technology have been largely blamed on the negative fortune of the CDMA operators, most industry watchers believe that corporate governance issues has been another bottleneck for its survival. Generally, the CDMA operators in the country have been losing their subscribers, leading to losses in their operations. Statistics by the Nigerian Communications Commission (NCC) have shown that about 868,786 active lines were lost by Multilinks, Starcomms, Visafone and ZoomMobile between January and June 2012 alone. Only Visafone, which is also a product of merger and acquisition involving Cellcom, ITN and Bourdex, is said to be providing services on a particularly competitive scale. According to checks, between 2009 and 2011, the CDMA operators combined, lost an active subscription of about of 2.9 million as specifically, the CDMA operators finished 2009 having 7,565,435 active subscriptions, while in 2010, it ended the year with 6,102,105 and declined drastically to 4,601,070 by December 2011. The operators continued the low profile in 2012, losing about 868,786 active lines in the last six months of operation. Expectedly, the loss had negative effect on the operators’ revenue. Going by the present
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Ajayi
Average Revenue Per User in the country put at N941 by Business Monitor International, a UK based research firm, the CDMA operators including Visafone; Starcomms; Multilinks and troubled ZoomMobile lost about N817 million within the last six months of operations in the country in 2012. Specifically, the persistent revenue loss in the operations of Multilinks Telkom had forced the parent company, Telkom SA to withdraw its 100 per cent stake from the Nigerian company. According to Teldom President, Dr. Emmanuel Ekuwem, the merger is a business model that will make the trio, as merged, to meet all the parameters of an efficient business entity, stressing that in a competitive business environment such as in Nigeria, a company either grows or expands or it is acquired or it merges with others to leverage the strengths of each of the merging parties or it folds up, he said, “Mergers and acquisitions are business viability models. Like I often say, those who refuse to adapt, the fate of dinosaurs await them; that is extinction.” Like Ewueme, Starcomms’ spokesman, David Babalola described the merger arrangement as a deal meant to revive a vital sector of the Nigerian telecoms sector. According to him, though the details are still sketchy, he revealed that the $200 million deal the telecoms company is entering into with some other investors “would be finalized by month end or early next month.” President of the Association of Telecoms Companies of Nigeria (ATCON), Engr. Lanre Ajayi, said that although $90
million cash was huge sum of money, the three CDMA operators needed more than that for total overhauling to enable the new company compete favourably with the GSM operators. “CDMA business thrives in other parts of the world but with the exception of the Nigerian market because of the peculiar nature of the Nigerian telecoms environment, where telecoms operators have to invest in infrastructure rollout by themselves, before thinking of expanding their networks,” he said. To Ajayi, for any telecoms operator to survive the Nigerian market, such operator must be ready to get huge funding for investment, which he said was lacking on the part of licensed CDMA operators in Nigeria, since their inception. Looking at the future of the CDMAs, he said the disparity between GSM and CDMA operations would soon be a thing of the past, as operators would be focussing on Long-term Evolution (LTE) technology, which is the next generation technology. According to him, both GSM and CDMA operators would be operating on the LTE technology in the nearest future and that will place the operators on the same technology platform and enhance better competition among them. Managing Director of Qualcom West Africa, Alex Dadson said that CDMA technology was not in any way a problem to the operators, but advise that CDMA companies in Nigeria should rather focus more on data provisioning where they have comparative advantage rather than voice. Speaking against the backdrop of a widely held view that the CDMA technology was no longer relevant in global telecoms space, Dadson said the technology had never been a challenge in terms of growth. According to him, Verizon, one of the biggest mobile operators in the United States, uses a CDMA technology and it has been largely successful. Be that as it may, experts have said there are many challenges that the new CDMA must be able to surmount if it must be taken seriously. While it is set to focus mainly on the data segment, the fact that cost of deploying bandwidth and data from the undersea cables to the areas of need in Nigeria, is still quite expensive, might slow down its hope of taking the chunk of the data market. As it stands, there seems to be no other way around this as stakeholders stressed that this could only be possible except government puts the necessary backbone infrastructure in place. BC
Technotips
iPhone Apps for a better night sleep
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ave you been having more trouble sleeping lately since you got your iPad or Samsung Galaxy S II? That comes as no surprise to researchers at the Lighting Research Center at Rensselaer Polytechnic Institute, who have found that two or more hours of exposure to backlit devices suppresses melatonin. This suppression, especially in teenagers, can lead to trouble sleeping at night, according to researchers led by Mariana Figueiro, director of the LRC’s Light and Health Program. General health practitioners recommend that adults get at least seven hours of sleep each night for optimal functioning of mind, body and spirit. Countless studies have proven the direct links between sleep quality and its effects on healthy immune functions, memory, learning, metabolism and much more. Wondering how this problem can be solved as we become even more dependent on our devices? Figueiro recommends dimming your backlit devices at night to minimize melatonin suppression. However, on the other hand, there are some apps that can aid you having better night sleep. The following apps provide options for people of all sleep styles. Forget counting those sheep and upgrade to sleep 2.0 with these 10 app picks. 1. Deep Sleep This app is a guided meditation with self-help expert Andrew Johnson (who just happens to sound a wee bit like Sean Connery). The aim is to gently ease you into a more relaxed state, eventually falling into a deep sleep. With soothing instructions for breathing and relaxation techniques, this app works like a charm and can become a valued part of anyone’s nighttime routine. It costs $2.99 to acquire. 2. aSleep 3 aSleep 3 provides a medley of sleep-related services like an alarm clock, timer, nature sounds, chromotherapy, weather and even a snore detector. Although there are some oddities in the sound options (didgeridoo, anyone?), this app provides a mix of features that can complement a good night’s sleep. This app goes for $0.99. 3. pzizz sleep Claiming to be your “personal sleep assistant,” pzizz is an app that aims to cure insomnia and keep users in a deep state of sleep throughout the night. The steep price can be partly attributed to the range of scientific techniques built-in, such as binaural beats and neurolinguistic programming, that creates more than one billion soundtrack combinations. With so many available, your mind won’t get bored by the monotony of a repetitive track every night. Modes of play include Energizer, Meditation and Sleep, and they are fully customizable to desired length. If you are wary of the high price, there is a light version currently on sale for $0.99. 4. Long Deep Breathing Long Deep Breathing is a simple, no frills app that promotes the practice of deep breathing for better health. Using what’s essentially a breath gauge, you simply follow the visual cues for inhaling and exhaling. You can adjust the length of each breath and eventually increase the duration. According to the app, the average person breathes about 12-16 times each minute. By practicing and working that number down, you will reap the benefits and calm the mind. Good information about the benefits of breathing is also included in the app. The Long Deep Breathing also goes for $0.99. 5. Sleep Cycle Alarm Clock If you’re really committed to learning more about your sleep habits, Sleep Cycle Alarm Clock provides you with a tool for analyzing your sleep habits. By literally placing the iPhone next to you while you sleep, the app will monitor your movement and wake you in your lightest sleep phase so you arise feeling refreshed and wellrested. This also costs $0.99. 6. eSleep For those sleepers who like to mix and match the background noise they fall asleep to, eSleep is a good choice. It offers a wide variety of sounds and loops and enables up to three sounds to play simultaneously. eSleep is a good option for those who like variety and customization with their sleep sounds. This app is also available with varying levels of functionality in light (free) and Deluxe ($2.99) versions. BC
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Apple iPad
New iPad now available in Nigeria
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igerians will soon be abe to get their hands on Apple’s new iPad, as Core Group Africa, the Value Added Distributor (VAD) for Apple in Nigeria, announced that the device has officially been launched in the country. The launch of the new iPad in Nigeria will form part of the next global rollout by the technology giant, and it will also be the first time that it will be available through the official Apple channel in Nigeria. According to Apple, “it features a stunning new retina display, Apple’s new A5X chip with quad-core graphics and a 5 megapixel iSight camera with advanced optics for capturing amazing photos and 1080p HD video. The new iPad delivers the same all-day 10 hour battery life, is amazingly thin and light and runs almost all of the over 650, 000 apps on the iTunes App Store.” The new iPad with Wi-Fi and iPad with Wi-Fi and 3G will be available in black or white in 16GB, 32GB and 64GB models.
Sony unveils new touchscreen computers
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ony has made an attempt to jump start sales of its tablet computers at Berlin’s IFA consumer electronics show. The Japanese firm unveiled a new 20-inch (51cm) Android-powered device which it said was “splashproof” and thinner than its previous models. It also launched a computer - designed to run Windows 8 - which uses a sliding hinge to switch between tablet and laptop modes. Sony’s early efforts in tablet computing missed sales targets. The new Xperia tablet follows other models released in
April last year. At the time it said it wanted to be second in the market to Apple’s iPad. But competition from Amazon’s Kindle Fire, Samsung’s various tablets and Google’s new Nexus 7 have prevented that from being the case. Sony is not the first to release a water-protected model, but appears the company believe the feature will add to its device’s appeal. “Splash-proof Xperia Tablet S is designed for real-life use around the home and outdoors, so there’s no need to worry about casual water spillages if you’re checking a recipe in the kitchen with wet hands,” it said in its marketing materials. The hybrid design of its Windows 8-based Vaio Duo 11 model adopts a concept that has long been promoted by chip designer Intel. But Apple’s Tim Cook has previously questioned the appeal of converging two different types of computer. “The problem is that products are about trade-offs,” he said earlier in the year. “You can converge a toaster and a refrigerator, but those things are probably not going to be pleasing to the user.” Sony is marketing its Vaio Tap 20 as a device that can be used by several people at once Much larger Sony also showed off what it called a “family touch” design. The Windows 8-powered Vaio Tap 20 touchscreen computer comes with a built-in stand and can either be used upright with a keyboard, or laid back near-flat against a table. At 20 inches the screen is much larger than traditional tablets. Sony said it was designed to be used by more than one person at a time. It gave the example of two children drawing on its screen while sitting on opposite sides of a table. “The tablet market is very competitive” said David McQueen, principal analyst at tech consultancy Informa. “Apple’s iPad continues to dominate the sector, but there are still ways to grow the market either by differentiation with screen size - as we’ve
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seen with one of Sony’s models - or with price and distinctive features. “However, the release of Windows 8 later this year will only bring more companies into the sector as traditional PC-makers and Microsoft itself release touchscreen computers.” Sony also announced three new smartphones and its first 84in (213cm) 4K-enabled television, offering four times the resolution of 1080p highdefinition displays. The TV matches the size of a model announced by LG last week. Ugbe
DStv restructures channels and programming
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Stv audiences across Africa are set to get more quality services that would impact on them as the satellite pay-television, owned by MultiChoice Nigeria, has restructured its programming while also unveiling series of new channels. From Monday October 1, 2012, the M-Net movie offering on DStv will be expanding to include eight genre-themed movie channels. The eight movie channels are themed according to movie type and will include M-Net Movies Premiere, M-Net Movies Comedy, M-Net Movies Family, M-Net Movies Action Plus, M-Net Movies Drama and Romance and M-Net Movies Showcase. Rounding off the M-Net movie line-up are M-Net Movies Action (previously M-Net Action) and M-Net Movies Stars (previously M-Net Stars). Speaking at a media briefing in Lagos, the Managing Director, DStv, John Ugbe, said that the firm was restructuring its channels and programmes to an updated viewer experience as well as create channel realignment with a view to allow easier navigation of programmes. Ugbe also said that the firm considered the channels coming on board and how they were going to impact positively on the viewers with interactive device to provide information about certain programmes. “We are bringing new channels that are going to impact positively on viewers. There is going to be channel realignment which will allow for update of viewer experience and allow them to navigate through the channels easily. He said “The good thing about this is that there are going to be family channels which will allow parents to know the kinds of movies that kids are allowed to watch. The interactive information is available on Channel 198. It is to make it
easier for people to find content to watch.” He also added that the firm had put in place adequate measures to enable viewers have value for their money, as even in extreme weather conditions, there was not going to be any problem associated with bad weather. In the same vein, some of the channels are set to be renumbered in order to ensure that all channels are grouped as relevant by genres. Ogbe noted, “With DStv launching several new channels in the recent past, the channel re-numbering initiative is focused on ensuring that all channels are grouped as relevant by genres. This will mean that viewers can find the channels that they are looking for easily and quickly.”
Glo doles out N12m in “text4millions” promo
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n electrical wires and cables businessman, Shittu Shodeinde, has received a cheque for a whopping sum of N12 million as the winner of the first monthly prize in the ongoing Season 3 of the Glo text4millions promo. Apart from Shodeinde, eight others who had won various prizes in the promo also collected cheques for various sums ranging from N30,000 to N6 million at the occasion. The winners include Ifeanyi Ahuzuru, a trader based in Ondo state and Abideen Alao Abiodun, a Lagos based businessman who won N6 million each in the promo. Other winners who also collected their cheques at the ceremony include Abdulrazak Immam, who won N90,000, Adebayo Muhideen Oladele, who won N60,000 and Ronke Bankole, Titilayo Oyewole Elizabeth, Afolabi Mukaila Babatunde and Anthonia Adara who won N30,000 each. Speaking at the occasion, Globacom’s Head of Value Added Services, Samson Isa said that the presentation of
prizes to the winners is a clear demonstration of Glo’s commitment to its promise to reward its loyal subscribers in a transparent manner and transform their lives for the better. “With a payout of up to N300 million in cash and prizes, Season 3 of the Glo “text4millions promo has already started transforming the lives of our subscribers across the country. As Nigeria’s national telecom operator, Globacom remains committed to introducing more products, services, affordable tariffs and other unique initiatives that will add value to the lives of its subscribers and reward them for their loyalty”, he stated. The winners expressed gratitude to Glo as they collected their cheques with most expressing surprise that a Nigerian company could be so consistent in keeping its promise to its subscribers. The winner of N12 million in the promo, Shittu Shodeinde, who told the audience that he was motivated to start participating in the promo by his wife, was full of praises to God and thanked Glo for making him a multimillionaire. He said he would invest part of the money in his electrical and cable sales business while the rest will be invested in people. “This is unexpected favour from God. I was actually enjoying the game because I was learning from the questions being asked every day. Today, I am a multi-millionaire ready to rule my world just because I am on the Glo network. Thank you Glo for changing my life”, he said. The Season 3 of the Glo “text4millions” promo promises existing and potential Glo subscribers a chance of winning from N30,000 up to N3 million daily or N6 million weekly. Monthly prizes of N12 million cash and a grand prize of N24 million for lucky subscribers in addition to consolation prizes of I-pods, Samsung Galaxy tabs, HP laptops and N500 airtime for 100 winners daily are also to be won during the promo. BC
Isa
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Reflections with Semiu Salamii 07043280449 sms only
Nnaji, power reform and the compromise theory For a very long time to come, the story of the sudden but unavoidable exit of Professor Barth Nnaji as Power Minister will continue to resonate. And the reason for this is very clear. Apart from the fact that Prof. Nnaji held a very strategic portfolio, he was also generally considered as one of the very close ally of the president and a very effective cabinet minister at that. However, more critical in the story of Nnaji’s exit will be more of the circumstances of his exit than the perceived splendid job he did within the short period he ran the ministry, particularly, the famous Power Road Map. Nnaji resigned as Minister of Power last Tuesday, after he was alleged to have compromised his position in the ongoing privatization of some of the power distribution companies in the country. Nnaji reportedly owned or he is linked with some of the companies that made bids for the Afam Generation Company Limited and the Enugu Distribution Company Limited. Clearly, this runs contrary to the Code of Ethics of the privatisation process, which bars staff of the Bureau of Public Enterprises (BPE) and members of the National Council on Privatisation (NCP) from buying shares in companies being privatised. Since his exit, Nnaji had repeatedly explained that his resignation was a sacrifice meant to protect President Jonathan from elements seeking ways to
ambush his presidency and protect the integrity of the power sector privatization programme. He said he reminded the president that he had brought it to his attention two weeks earlier that a company he owned was part of a bidding consortium which submitted bids for Enugu Distribution Company. Curiously, however, President Jonathan, while on an official visit to Anambra State last week cleared Nnaji of any wrongdoing in the handling of the ongoing energy sector reform and admitted that, he accepted the former minister’s resignation to protect the privatization process. This is where I find the president’s explanation and clearance rather curious. If indeed, the president was in the know of Nnaji’s companies’ involvement in the Afam and Enugu Distribution Company well before the National Council on Privatisation (NCP), “uncovered” it, then, it suffices to say that both the president and the former minister indeed, ran afoul of the code of ethics of the privatization exercise and even that of the Code of Conduct Bureau. Besides the issue of compromise expressed at the NCP meeting, which eventually led to the hurried exit of the minister, there is also the issue of a damning memo by the chairman of the ruling Peoples’ Democratic Party (PDP), Bamanga Tukur, which detailed a harvest of infractions allegedly committed by
the former minister in the course of the ongoing privatisation of the power sector. In the letter dated July 22, Tukur was said to have blamed the challenges of power generation on the alleged “Conflict of interest between the office of the Hon. Minister of Power, Prof. Barth Nnaji, who has put personal interest above national imperatives of providing an urgent solution to the gross insufficiency in power generation in Nigeria. The minister is known to own large interest in Geometrics, a power company that has been taken over by the Asset Management Corporation of Nigeria (AMCON) for an unserviceable loan of N25 billion.” The party chairman said he suspected the former minister also own proxy interests in some of the new independent power plants (IPPs) “hurriedly put together to benefit from Power Purchase Agreement (PPAs) even though such companies have not met the expected milestone that will put them in the position to generate electricity in the foreseeable future, while the other IPPS with ready-to-go practice (who have not met the necessary criteria and are in a position to generate electricity within the next six to 18months) are frustrated from getting approval for the PPAs because they are perceived as competitors to the minister’s self-made list of IPPs.” Tukur alleged nepotism in the selection of companies for the power purchase agreement, stressing that the Chief Executive of Bulk Purchasing
Trading Company, Rumundaka Wonodi, was a staff of Geometrics and promotes the same hurriedly-put- together projects with personal interest for the PPAs. The memo further alleged that these projects, among other things, did not receive even concrete gas supply commitments from the international oil companies (IOCs) since they are not ready-to-go projects. “Meanwhile, ready-to-go IPPs, which secure a concrete gas supply commitment from IOCs, having fulfilled necessary criteria and are in position to generate power immediately, are denied PPAs approval and nominations for World Bank guarantee by the Bulk Trader because they are not on the minister’s favoured list. The consequence of this is that, no Power Purchase Agreement is being signed and no IPP project can come on stream in time to fulfill our programme in the power sector,” the memo stated. Tukur’s memo alleged that “The indebtedness of the Hon. Minister’s company to Diamond Bank and AMCON is a pressure point that affects an honest and objective discharge of his duties when the reform process is at its infancy”. If the issues raised in the memo are indeed true, why did President Jonathan hurriedly absolved Nnaji of any wrongdoing? One thing is clear, someone is hiding the real reasons behind the power minister’s resignation and until the issues are laid bare, the privatization process of the power sector may run into a serious hitch and this will be too disastrous for the country. BC
BELIEVABILITY INDEX
Where is Wema Bank’s 2011 financial result? By Festus Okoromadu
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n Monday August 27, 2012, the Nigerian Stock Exchange (NSE) released an updated version of its X-Compliance Report to the market. The report, as usual, provided an insight into the level of quoted companies’ compliance with the Exchange’s post listing requirements. And for the umpteenth time, the name of Wema Bank Plc featured prominently among the league of quoted companies that have failed to submit their audited financial results for 2011. However, this time, only Wema bank failed to meet this requirement among its peers in the banking sub-sector. This is a clear eight months after the close of its 2011 financial year. While the nonrendition of the account is said to be due to the bank’s failure to get the Central Bank’s approval what is however curious is why would the apex bank hold on to Wema Bank’s account? Curiously, neither the CBN nor Wema Bank is willing to offer information, thus, creating room for speculative permutations and rumour peddling. The implication is simple; the bank’s share price has nosedived to its nominal value of 50 kobo per share since March this year. The current price indicates that an investor who bought the equity at N1.75 per share as at the close of trading on February 22, 2011 would have lost N1.25 per share or 250 percent on the equity. Recalled that while addressing shareholders at the bank’s 2010 Annual General Meeting, Samuel Bolarinde, Chairman, Board of Director had assured investors of delivering appropriate reward for having faith in the bank. He further stated that the directors of the bank would continue to work towards building a bank that would be the pride of all stakeholders. “Let me extend a warm welcome to our new shareholders who took advantage of the special placing of our shares in September 2010 to buy into
Bolarinde
the bank. This class of shareholders saw enough value in our shares to purchase them at a significant premium relative to the market price at the time of the issue and it is our belief that their faith in the bank shall be rewarded appropriately,” Bolarinde had said. As it is, that promise is still eagerly awaiting fulfilment even as the banking sector is sliding towards another restructuring regime. However, it is important to note that whatever the situation, the bank ought to have considered the fact that, taking shareholders into confidence and informing them adequately of development within the system would have further strengthened their faith in the bank at a critical time like this. As the public and shareholders of the bank continue to wait for the CBN to approve the bank’s 2011 accounts, there
are indications that Segun Oloketuyi, Chief Executive Officer of the bank, along with his top management team may not be able to deliver on his promise to pay shareholders dividend in the 2011 financial year. “We are not unmindful of the expectations of our shareholders now that the bank is back on its feet. We are committed to our corporate vision, that is, ‘to be the financial institution of choice in the service delivery and superior returns’. With your continued support and encouragement, we are confident that your bank will start to pay dividends once again from the next AGM,” Oloketuyi had said in 2010. Although, it is not possible at this point to question the wisdom of the CBN in withholding Wema Bank’s account for the 2011 financial year, the fact remains that, the action may have done more harm than good to the equity as far as the capital market is concern. First, the absence of appropriate information has been giving room for rumours of varying degrees while the effect is already being felt in the bank’s share price. Secondly, the recent nationalisation of some banks has made some investors to develop apathy for banking stocks. Therefore, a situation where necessary information is held back only creates further room for uncertainty and could make many discerning investors to dump such stock. However, what analysts consider to be Wema Bank’s critical challenge is its compliance with the CBN’s Regulation on Scope of Banking Activities & Ancillary Matters No. 3, 2010. There are indications that Wema Bank is still trailing behind and so it will be starting from a disadvantaged position from the onset. For instance, while the likes of First Bank Plc and Stanbic IBTC Bank Plc have reached advanced stage of evolving into a holding company model, the state of Wema Bank’s compliance with the regulation remains suspect.
This is not to say that the bank is not taking steps to comply with the restructuring order. For instanc,e on Friday, August 10, 2011, the bank, through Greenwich Trust Limited notified the NSE of its proposed divestment from five of its subsidiaries. According to a statement signed by Josephine Igbinosun, which emanated from the Compliance, Listings Regulation Department of the NSE, the bank has taken steps to toe the line of its peers in order to remain in the industry. The statement reveals that the bank’s board of directors has resolved to obtain a regional banking license from the CBN as against the previous Universal Banking License. Part of the statement reads, “Following the CBN’s proposal on revised banking model that would result in Deposit Money Banks (DMBs) adopting a monocline or holdco structure for commercial bank’s business, and upon reviewing the available options, the board of directors of Wema Bank Plc resolved that the bank should obtain a regional banking license from the CBN in exchange for its previous universal banking license it held at that time”. It further stated that, consequently, the bank has divested from five of its subsidiaries which do not fall in line with the new status of operation and it has gotten the CBN’s approval-in-principle. However, the statement was silent on what will happen to the subsidiaries it is divesting from, or how the existing shareholders will benefit or otherwise from the new model being proposed by the board as many other banks have done. Although, it is difficult to conclude whether the strategy of keeping shareholders and the investing publics in the dark as to the affairs of the bank is deliberate or not, the obvious fact is that, the stock is suffering the pain of this decision. BC
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Behind d Wheels
Nine diesel cars and trucks that w D
iesel vehicles get remarkable fuel economy, but it’s sometimes not enough to make them a better value overall than their gas counterparts. The main reason is the higher pricetag: on average a diesel is $5,045 more than a gas-powered version of the same model, according to Vincentric LLC, a research firm in Bingham Farms, Mich. Beyond the purchase amount, diesels also end up costing a little extra to own and maintain. That’s partly because some new diesel vehicles are required to have a reservoir of urea, which gets injected into the exhaust and neutralizes some of the pollutants. With this so-called “clean-diesel” technology, emissions are now cleaner than what comes from many gasoline vehicles—which is a major role reversal. But there is added maintenance involved in replenishing the reservoirs and making sure the more complex diesel engine is running properly. “We found that diesels typically have slightly higher insurance, repair and maintenance costs,” says David Wurster, president of Vincentric, which specializes in calculating total cost of ownership and chose diesels for its most recent alternative fuel analysis. “An additional noteworthy point is that on a percentage basis, diesels have lower depreciation, but because they cost more to purchase, their total dollars of depreciation are higher,” Wurster says. (Some might argue that diesel is not technically an alternative fuel, but it’s not exactly mainstream in the United States either, given that only a small fraction of vehicles use it.) The Diesel vs. Gas Showdown Vincentric analyzed 23 diesels on sale in the United States—11 of them classified as commercial vehicles and 12 as consumer vehicles. It looked at overall cost of ownership for five years, with 15,000 miles driven annually. Based on this analysis, nine diesels had five-year ownership costs that are lower than equivalent models with gasoline engines. We list them in descending order based on overall savings versus their gas equivalents. Vincentric, a research firm in Bingham Farms, Mich., specializes in calculating cost of ownership for vehicles and tracks more than 2,000 models. Nine factors go into its cost of ownership calculations: purchase price, depreciation, financing, fees and taxes, fuel, insurance, maintenance, repairs and opportunity cost. The price it uses for fuel is a weighted national average for the previous five months, to better reflect market trends, rather than market extremes. 2012 Mercedes-Benz GL350 Bluetec 4Matic Overall savings compared with the gas-powered GL450 4Matic: $10,128 Fuel savings: $4,750 The GL-Class is Mercedes’ largest crossover. It was refreshed for 2012 with minor styling changes. The GL350
2012 Mercedes-Benz GL350 Bluetec 4Matic
Bluetec has a 3.0-liter V6 turbo diesel that puts out 210 hp and gets an EPAestimated 17 mpg city, 21 mpg highway and 19 mpg overall. Its substantial fuel savings** of $4,750 helps the GL350 Bluetec achieve the highest total savings of any diesel vehicle for which Vincentric calculated five-year ownership costs. Vincentric estimates that the purchase price* is only $101 higher than that of the gas-powered GL450 4Matic. 2012 Mercedes-Benz S350 Bluetec 4Matic Overall savings compared with the gas-powered S550: $6,015 Fuel savings: $4,003 The Mercedes S350 Bluetec 4Matic is the least expensive S-Class model.
2012 Mercedes-Benz S350 Bluetec 4Matic
It is one of just a few diesel vehicles in Vincentric’s study with a lower purchase price relative to its gas-powered counterpart. Just going on the suggested retail price, the diesel S350 is $2,450 less than the S550, which has a V-8 engine that runs on gasoline. But Vincentric, which tries to ascertain what buyers are actually paying, pegs the S350 purchase price* at $3,418 less. The S350 is the only S-Class model with all-wheel drive. The others are rearwheel drive, which makes its fuel savings** of $4,003 more remarkable. It has a more powerful version of the 3.0-liter V-6 turbodiesel that’s in the Mercedes GL350 Bluetec. The engine produces 240 hp and gets an EPA-estimated 21 mpg city, 31 mpg highway and 25 mpg overall.
2012 Volkswagen Touareg TDI
2012 Volkswagen Touareg TDI Overall savings compared to gas-powered Touareg: $4,447 Fuel savings: $2,840 The VW Touareg Diesel is a pricey midsize crossover with rugged capabilities. Its 240-hp V-6 gets 19 mpg city, 28 mpg highway and 22 mpg combined, according to the EPA—respectable for such a large and heavy vehicle. Its purchase price* is $3,322 higher than the gas-powered Touareg. But taking into account its five-year cost of ownership, Vincentric estimates that the diesel will end up saving owners a total $4,447 over the gas model—including a $2,840 fuel savings**. 2012 Audi A3 2.0T TDI Overall savings compared to gas-powered A3 2.0T: $3,583 Fuel savings: $3,793 The A3 is the smallest car Audi sells in the United States. It’s only available as a four-door hatchback. Vincentric estimates that the purchase price* of the diesel A3 is $1,630 higher than the com-
National Mirror www.nationalmirroronline.net
Business Courage A19 35
Monday, September 3, 2012
Behind d Wheels
will save you money the ML350 Bluetec saves owners a total of $2,473 over five years. 2012 Mercedes-Benz E350 Bluetec Overall savings compared to gaspowered E350: $2,204 Fuel savings: $3,145 The gas-powered midsize E-Class se-
2012 Audi A3 2.0T TDI
parable gas-powered version. The A3 2.0T TDI is less expensive to insure and maintain versus the gasoline version of the A3. That combined with fuel savings** of $3,792 make for a lower five-year cost of ownership. The EPA estimates fuel economy of 30 mpg city, 42 mpg highway and 34 mpg combined. 2012 Mercedes-Benz R350 Bluetec 4Matic Overall savings compared to gaspowered R350 4Matic: $3,181 Fuel savings: $1,832 The R-Class is Mercedes’ version of a minivan, except with rear doors that swing out, rather than slide open. The diesel R350 Bluetec 4Matic has a purchase price* $844 lower than that of the gasoline R350 4Matic. Vincentric also calculates significantly lower depre-
2012 Mercedes-Benz R350 Bluetec 4Matic
ciation for the diesel version versus the gasoline one, saving owners $2,142 over five years. The R350 Bluetec 4Matic uses the same 210-hp 3.0-liter V-6 turbodiesel as the GL350 Bluetec 4Matic. The EPA estimates fuel economy of 18 mpg city, 23 mpg highway and 20 mpg combined. Sales of the RClass have been sluggish ever since its introduction for the 2006 model year. After 2012, it will no longer be available in the United States. 2012 BMW X5 xDrive35d Overall savings compared to gas-powered Touareg: $4,447 Fuel savings: $2,840 Never mind that BMW X5
xDrive35d has an awkward name—this midsize crossover is a good value. It’s one of only three diesels with a purchase price* as calculated by Vincentric that is lower than that of its gas-powered counterpart, the BMW xDrive35i, albeit just $597 lower.This lower price has a positive domino effect on five-year ownership, allowing for lower depreciation, finance and other associated costs. Only insurance and repairs are higher with the diesel X5, but not by much. With fuel savings** of $2,405, the diesel handily beats its gasoline counterpart, saving $2,751 over five years. The X5 xDrive35d features a 3.0-liter six-cylinder turbodiesel engine with 265 hp. It gets an EPA-estimated 19 mpg city, 26 mpg highway and 22 combined. 2012 Mercedes-Benz ML350 Bluetec 4Matic Overall savings compared to gas-powered ML350 4Matic: $2,473 Fuel savings: $2,336 Mercedes’ midsize ML350 Bluetec crossover gets the 240-hp version of the company’s 3.0-liter V-6 turbodiesel, with an EPA estimated fuel economy of 22 mpg city, 27 mpg highway and 22 mpg combined. Although its purchase price* as estimated by Vincentric is $1,397 higher than that of the gas model, the diesel saves owners $2,336 in fuel costs** and $767 in maintenance over five years of ownership. Factoring in slightly higher finance, insurance and repair costs versus the gasoline version,
2012 BMW X5 xDrive35d
2012 Mercedes-Benz E350 Bluetec
dan is one of Mercedes’ most popular models. The E350 Bluetec diesel sells in far fewer numbers. It costs $1,965 more to purchase* than a gas-powered E350. Besides that, the diesel E350 Bluetec has marginally higher costs in nearly
of ownership when compared to its gasoline counterpart. The E350 Bluetec has a 210-hp 3.0-liter V6 turbodiesel that gets an EPA-estimated 21 mpg city, 32 mpg highway and 25 mpg combined. 2012 Ford F-350 Diesel Overall savings compared to gas-powered F-350: $1,131 Fuel savings: $1,999 Of the seven full-size, heavy-duty diesel pickup trucks Vincentric studied, the Ford F-350 is the only one with five year ownership costs that are lower than that of its gas-powered equivalent. The Ford F-350 Diesel has a 400hp 6.7-liter V-8 turbodiesel engine. Although it only has 15 hp more than the gasoline 6.2-liter V-8 also offered in the F-350, it has almost double the torque,
2012 Mercedes-Benz ML350 Bluetec 4Matic
every category that Vincentric tracks, including most notably finance and repairs. But its impressive fuel savings** of $3,145 help compensate for it all and result in savings of $2,204 over five years 2012 Ford F-350 Diesel
at an impressive 800 lb.-ft. What that means in practical terms is that the F-350 Diesel is more capable at towing and hauling heavy loads. It also depreciates less, according to Vincentric, retaining $822 more of its value over five years of ownership than the gas-powered F-350. That and its impressive fuel savings** help the F-350 Diesel overcome its $5,355 higher purchase price* and higher ownership costs, resulting in savings of $1,131 over five years of ownership compared with its gas counterpart. BC
A20 36
Business Courage
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
National Mirror www.nationalmirroronline.net
Business Courage
Monday, September 3, 2012
A21 37
Afromedia converts dividend to bonus By Festus Okoromadu
F
ollowing the refusal of the shareholders of Afromedia Plc to approve the distribution of 2.5kobo per share as dividend earnings for the financial year ended September 30, 2011, the company has gone ahead to convert the reward to an enhanced bonus issues. According to a notification sent to the Nigerian Stock Exchange (NSE) announcing resolutions passed at the company’s 46th annual general meeting (AGM) held on Thursday, August 23, 2012, the company stated that, instead of a dividend of 2.5kobo and 1 for 20 bonus shares earlier proposed and rejected by the shareholders, they will now receive a bonus share of 1 for 10 but without dividend. The company had in a motion proposed to declare a dividend of 2.5kobo per every 50kobo share amounting to the sum
N
of N100, 887,431.50 payable to shareholders whose names are registered in the Register of members at the close of business on Thursday, April 19, 2012. Another sum of N100, 887,431.50 was also set aside to be capitalised to allow the company issue bonus shares in the proportion of One Ordinary share for every 10 ordinary shares held at the closed date of the register. However, the shareholders, Business Courage gathered, have rejected the motion of paying dividend but instead opted for the option to capitalise the total sum and distribute same as bonus issues. Consequently, the motion was amended and the sum of N201, 774,862.00 was capitalized and was distributed in the proportion of One Ordinary share for every 10 ordinary share held. The new motion, the NSE
disclosed, has been approved by members and therefore effectively takes care of the cancelled dividend declaration. It will be recalled that Afromedia which was listed on the floor of the NSE on May 18, 2009 distributed a dividend of 5kobo per share in 2010. Meanwhile, the company has presented its unaudited financial result for the third quarter ended June 30, 2012 to the Exchange. Analysis of the result shows that turnover for the period declined by 25.47 percent to N1.952billion from N2.619billion in similar period of 2011. In the same vein, net profit dropped by 50.32 percent to N87million from N174million in 2011, the depreciation in earnings and profit suggest that the company may not be able to reward shareholders at the close of the current financial year. BC
Banks and the rat race
igerian banks, rather than continue to be dogmatic, are now deploying creative methods to get more customers to bank with them. Innovations like creating a platform for the largely unbanked community to enjoy hitch free banking by First Bank, even when they do not own a bank account or possess the right to use the ATM, is perhaps a step in the right direction. The aim of First Bank of Nigeria plc for introducing the product, according to its Group Managing Director, Bisi Onasanya, was to ‘spearhead the quest for financial inclusion as the Central Bank of Nigeria (CBN), pursues the target of attracting 50 million unbanked Nigerians to the country’s financial system’. Another official of the bank, Folake Ani-Mumuney, Head, Marketing and Corporate Communications, added that the product from the stable of the bank was meant to be a platform for many more people from the low income segment and grassroots populations to take advantage of First Bank’s broad range of tailored financial services. The same old generation bank, some weeks ago, in a bid to keep pace with competition, took the decision to review downward the unattractive conditions associated with opening and maintaining a saving account with it. Prior to the present dispensation, a customer who sought to run a savings account with First Bank was asked to produce a minimum of N10, 000 for the account to be opened. Also, at no time was the customer expected to draw the account below N2, 000. But recently, the management of the bank took the decision to slash the minimum operating balance required for a customer to open a savings account by 80 per cent, from N10, 000 to N2, 000 while
the minimum withdrawal balance stands at N1, 000 as against N2, 000 opening balance required previously. These commendable gestures notwithstanding, Mystery Shopper’s investigations revealed that the growing number of sophisticated customers of banks in Lagos looking forward to a more relaxed products, not only from First Bank, but other banks whose conditions of service still remain high. However, the reality seem to have dawned on all the banks, as virtually all of them are seen to be making spirited efforts to flow with the new trend in the industry in other to remain relevant. Another bank that has shown a measure of pragmatism in recent times, especially in terms of developing new products that are tailored towards the convenience of its customers is Access Bank. It’s recently introduced productMpower Biz Classic account is designed to be a free COT account with no restriction on number of withdrawals. The bank says holders of the account will not be charged any fee for maintaining the account while financial advisory services will be made accessible to business owners among other benefits. A statement from
Onasanya
the bank disclosed that an operator whose business turnover is up to N10 million monthly would only be required to maintain a minimum daily balance of N20, 000. According to the bank, Mpower Biz Classic was designed to aid start-up businesses and provides support to them at their early cycle as well as grow the businesses of small scale distributors and retailers of large corporate companies among other benefits. Also, the bank last week, told its customers that it has made its Fixed Rate Deposit juicier for them, a move which industry watchers told Mystery Shopper was another ploy by the bank to grow its deposit base. A customer with a minimum investment of N1 million gets interest rates of 14 per cent per annum with quarterly interest payment option, while the bank promised that the fund will serve as collateral for loans; up to 100 per cent while withholding tax charge is not applicable. In the spirit of outsmarting one another, a bank like GTBank appears to have an edge over the others as its innovative service delivery has endeared a good number of the banking public to it. For instance, the zero minimum opening balance for the bank’s savings account is a big delight for its customers and over the years has caused a surge in its customers’ base. For Diamond Bank, Mystery Shopper reliably gathered any carrier of its ATM card does not bear any cost, irrelevant of where they (customers) use their cards. Meanwhile as the banks compete endlessly against one another to gain more customers, Mystery Shopper findings reveal that the utmost interest of the Nigerian banking community is to get the best banking services at little or no cost. BC
Market Indicators for Week Ended 31-08-12 All-Share Index 23,750.82 points Market Capitalisation N7,560,055,535,389.98 Stock Updates GAINERS COMPANY
OPENING PRICE
CADBURY
17.00
CLOSING PRICE 17.85
CHANGE
INTBREW
8.02
8.42
4.99
REDSTAREX
2.45
2.57
4.90
UPL
4.31
4.52
4.87
CUSTODYINS
1.15
1.20
4.35
5.00
LOSERS COMPANY
OPENING PRICE
CLOSING PRICE
CHANGE
NEIMETH
0.80
0.76
-5.00
JAPAULOIL
0.60
0.57
-5.00
JOSBREW
7.03
6.68
-4.98
CONOIL
1.61
1.53
-4.97
ETERNA
20.76
19.73
-4.96
Inter-Bank Rates TENOR
RATE%(PREV) 23-Aug-2012
RATE%(CURR) 30-Aug-2012
OBB
11.5000 – 15.5000
10.7500 – 13.7500
CALL
11.0000 – 17.0000
10.7500 – 14.5000
Primary Market Auction TENOR
AMOUNT (N’mn)
91-Days
33,648
RATE (%) 14.00
23-Aug-12
DATE
182-Days
20,000
15.08
23-Aug-12
91-Days
32,057
14.50
09-Aug-12
Open Market Operation TENOR
AMOUNT (N’mn)
48-Days
17,315
14.10
RATE (%)
27-July-12
DATE
364-Days
60,000
15.60
26-July-12
182-Days
60,000
14.94
26-July-12
Wholesale Dutch Auction System AMOUNT OFFERED
AMOUNT SOLD
DATE
$180m
MARKET DEMAND $180m
$180m
29-Aug-12
$250m
$250m
$250m
27-Aug-12
A22 38
Business Courage
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
LafargeWapco: Sustaining strong growth amid expansion By Tayo Adeleke
A
lready, the impact of the expansion strategy embarked upon in the last financial year by the management of Lafarge Cement Wapco plc is being felt, going by the recent half year unaudited report of the cement manufacturing company. Lafarge Cement Wapco has not only achieved three digits growth in profit, it has also surpassed its recent audited profit by 3.5 percent. As at half year, its net profit stood at N8.81 billion compared with N3.19 billion in 2011 while earning per share was 293 kobo against 106 kobo in 2011. It would be recalled that during the fourth quarter of last financial year ended December 31 2011, the company made two strategic investment of N1.2 billion in Readymix Nigeria and Ewekoro cement plant II called Lakatabu which cost N45 billion. Strategic investment During the year under review, Lafarge ReadyMix Nigeria Limited, a fully-owned subsidiary of the company commenced business operation in the fourth quarter and also contributed to the rise in turnover. According to the company, ReadyMix is a response to the opportunity presented by the local construction industry and it has been making significant in-roads in the construction market of Lagos area with plans to expand its operations to other parts of the country. The company’s 2.5 million metric tonnes stateof - the -art cement plant, Ewekoro II (Lakatabu) was completed and commissioned in December 2011. Since it began operations, the plant has been performing with high reliability, contributing an extra 6000 tonnes of cement to the Nigerian cement market on a daily basis. The plant has also taken Lafarge WAPCO’s production capacity to 4.5 million metric tonnes. Ewekoro II is a significant milestone for the company and has the potential to continue to create value for all stakeholders. Board Changes The company made changes to the Board within the year under review. Joseph Hudson took over from Samy Abdelkader, who resigned as Managing Director and Chief Executive Officer. Fred Amobi was also appointed as the Finance Director, to replace Emmanuel Oloruntoki who retired from the company after 29 years of service. Similarly, Jean-Carlos Angulo joined the board as replacement for Abdelkader. Angulo is an Executive Vice President with the Lafarge Group overseeing the Group’s operations in several countries
from N21.698 billion, leaving gross profit at N17.975 billion from N7.798 billion, while finance cost for the facility with which the company funded its expansion tagged “Lakatabu” project soared to N2.583 billion from N64.686 million. Profit before tax therefore stood at N12.184 billion, compared to the earlier N4.641 billion, representing a growth of about N7.543 billion or 162.52 percent. Profit after tax grew by N5.611 billion or 175.67 percent from N3.194 billion in the first half of 2011 to N8.805 billion, representing earnings per share of 293 kobo, as against the 106 kobo reported for all of 2011.
Joseph Hudson, MD Lafarge Cement Wapco
including Nigeria. Half year Performance The Lafarge Cement WAPCO has continued to maintain the impressive performance achieved in the last financial year ended December 2011 as unaudited second quarter for the period ended June 30, 2012 showed a 56 percent rise in turnover to N46.34 billion in 2012 from N29.496 billion. Lafarge Wapco says it will continue to provide innovative products and services to its valued customers and consumers as it believes that this is the best way to maintain its heritage. The building materials’ manufacturing giant recorded
three digit gains of 293 kobo; a 176 percent increase from 163 kobo in 2011, while it has also surpassed its last audited earnings as at half year. The 293 kobo Earnings per Share (EPS) posted in second quarter 2012 is 3.5 percent better than 283 kobo EPS achieved for twelve month in 2011. Similarly, the result showed significant growth in profit before and after tax within the period. Cost of sales rose by 31 per cent, mainly owing to increased dependency on Low Pour Fuel Oil (LPFO) as manufacturers faced lingering gas supply shortages in the country. Cost of sales was however contained at N28.367 billion,
Value for Investors In addition, returns on investment in LafargeWAPCO’s shares in the last five years have proved to be worthwhile, though, it was mixed. The cumulative earnings per share (EPS) for five years stood at N13.45. EPS moved from 356 kobo in 2007 to 375 kobo in 2008 before it fell to 168 kobo and 163 kobo in 2009 and 2010 respectively. The figure later grew from 163 kobo in 2010 to 283 kobo in 2011. Dividend per Share (DPS) experienced similar trend, as it decreased from 120 kobo in 2007 to 10 kobo in 2009 before it grew to 25 kobo in 2010 and 75 kobo in 2011. However, the management has not been shareholders friendly in term of dividend payment. The management paid 34 per cent of its earnings as dividend in 2007; it offered 16 per cent in 2008, six percent in 2009, 15 per cent in 2010 and 27 percent in 2011. Meanwhile, the company maintained an average dividend payout of 19.6 percent in the last five years. Considering the half year performance, analysts at both FBN Capital Limited and Asset & Resource Management Company Ltd (ARM), said they have put a price target of N60.80 and N50.75 respectively on the shares of the company. The stock closed at N44.01 per share last Wednesday. Liquidity The liquidity position of Lafarge Cement Wapco has exhibited significant improvement in the last
LafargeWapco Plc Data
2011=N=(‘Nm)
2010=N=(‘Nm)
2009=N=(‘Nm)
2008=N=(‘Nm)
Turnover
62,502,320
43,841,325
45,589,798
43,273,809
Profit Before Taxation
10,219,233
8,464,365
9,237,328
13,033,219
Profit After Taxation
8,509,347
4,881,363
5,055,398
11,252,030
Profit Margin (%)
13.61
11.13
11.09
26
Pretax Profit Margin (%)
16.35
19.31
20.26
30.12
Earnings per Share(kobo)
283
163
168
375
Dividend Per Share(kobo)
75
25
10
60
Dividend Cover
3.8
6.5
16.8
6.2
Net Assets
1.868
1.609
1.456
1.348
Shareholders fund
56,050,708
48,291,761
43,710,558
40,456,120
three financial years. The company’s current assets increased by 39.9 percent from N17.67 billion in 2010 to N24.73 billion in 2011. In another development, the current liabilities decreased from N58.07 billion in 2010 to N32.6 billion in 2010. Current ratio, a measure of the degree of cushion the company’s current assets enjoys from its current liabilities, trends an upward path moving from 0.30:1 in 2010 to 0.76:1 in 2011. The proportion of stocks and work in progress in total current asset (quick ratio), replicated similar form from 0.14:1 in 2010 to 0.44:1 in 2011. This implies that the company is not yet well positioned to meet its short term debt obligations as and when the need arises. Profitability The cement company has not been able to improve significantly on its operational efficiency which could be attributed to harsh operating environment and the deterioration in the supply of energy that it is faced with. WAPCO’s performance in audited report for the period ended December 2011 shows a return on equity of 15.18 per cent, representing a 5.07 basis points increase from 10.11 per cent in 2010. Gross profit margin stood at 31.37 per cent, up from 30.35 percent in 2010 while profit margin closed at 13.61 percent from 11.13 per cent in 2011. Future Outlook There is a bullish expectation on Wapco’s overall performance, hinged primarily on sustainable demand and improved operational efficiency as analysts expect these to lead to gains in energy cost components and a reduction in selling, distribution and administrative expenses. LafargeWapco recently entered into a cement supply deal with the Lagos State government on its planned infrastructure projects going forward; the extent of volume has not been ascertained, as this is however, expected to impact positively on its future sales growth. In addition, the company has hinted at plans to utilize output from the proposed coal mines in Kabba and Kogi states with the aim of increasing its usage in the company’s energy mix; coal costs about a third of LPFO with corresponding calorific value. Wapco has also announced its plans to establish a bag manufacturing company to cater for its packaging needs. This will replace Nigerian Kraft Bags Limited, which currently renders this service. The company expects some cost savings and better efficiency from this initiative which should drive modest improvements in margins. BC
National Mirror www.nationalmirroronline.net
Business Courage A23 39
Monday, September 3, 2012
STOCKWATCH Stock Exchange weekly equities summary as at Friday, Aug 31, 2012 SECURITY
PRICE (=N=)
AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC 0.50 OKOMU OIL PALM PLC. 31.50 PRESCO PLC 15.00 Fishing/Hunting/Trapping ELLAH LAKES PLC. NT Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 1.36 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. 1.18 CHELLARAMS PLC. NT JOHN HOLT PLC. NT S C O A NIG. PLC. NT U A C N PLC. 35.51 CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. 12.73 CAPPA & D’ALBERTO PLC. NT Building Structure/Completion/Other COSTAIN (W A) PLC. NT G CAPPA PLC NT Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 26.72 ROADS NIG PLC. NT Real Estate Development PINNACLE POINT GROUP PLC NT UACN PROPERTY DEV 10.00 Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC 100.00 UNION HOMES REAL ESTATE INV NT CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC 0.50 Beverages--Brewers/Distillers CHAMPION BREW. PLC. NT GOLDEN GUINEA BREW. PLC. NT GUINNESS NIG PLC 252.00 INTERNATIONAL BREWERIES PLC. 8.42 JOS INT. BREWERIES PLC. 1.53 NIGERIAN BREW. PLC. 123.00 PREMIER BREWERIES PLC NT Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 40.00 Food Products BIG TREAT PLC NT DANGOTE FLOUR MILLS PLC 6.14 DANGOTE SUGAR REFINERY PLC 4.17 FLOUR MILLS NIG. PLC. 53.50 HONEYWELL FLOUR MILL PLC 2.00 MULTI-TREX INTEGRATED FOODS PLC NT N NIG. FLOUR MILLS PLC. 21.48 NATIONAL SALT CO. NIG. PLC 4.70 P S MANDRIDES & CO PLC. NT U T C NIG. PLC. 0.75 UNION DICON SALT PLC. NT Food Products--Diversified CADBURY NIGERIA PLC. 17.85 NESTLE NIGERIA PLC. 550.00 Household Durables BETA GLASS CO PLC. 10.03 NIGERIAN ENAMELWARE PLC. NT VITAFOAM NIG PLC. 3.00 VONO PRODUCTS PLC. NT Personal/Household Products P Z CUSSONS NIGERIA PLC. 22.86 UNILEVER NIGERIA PLC. 35.33 Textiles/Apparel UNITED NIG. TEXTILES PLC. NT FINANCIAL SERVICES Banking ACCESS BANK PLC. 7.70 DIAMOND BANK PLC 2.71 ECOBANK TRANSNATIONAL INC. 10.30 FIDELITY BANK PLC 1.40 FIRST BANK OF NIG. PLC 13.54 FIRST CITY MONUMENT BANK PLC. 3.00 GUARANTY TRUST BANK PLC. 17.80 SKYE BANK PLC 2.68 STANBIC IBTC BANK PLC 6.70 STERLING BANK PLC. 1.05 U B A PLC 4.52 UNION BANK NIG.PLC. 5.10 UNITY BANK PLC 0.50 WEMA BANK PLC. 0.50 ZENITH BANK PLC 15.38 Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC NT AIICO INSURANCE PLC. 0.50 CONFIDENCE INSURANCE PLC NT CONSOLIDATED HALLMARK INS. PLC 0.50 CONTINENTAL REINSURANCE PLC 0.61 CORNERSTONE INS. COY. PLC. NT CUSTODIAN AND ALLIED INS. PLC 1.20 EQUITY ASSURANCE PLC. 0.50 GOLDLINK INSURANCE PLC 0.52 GREAT NIGERIAN INSURANCE PLC NT GUINEA INSURANCE PLC. NT INTERCONTINENTAL WAPIC INS. PLC 0.55 INTERNATIONAL ENERGY INS. PLC 0.50 INVESTMENT AND ALLIED ARN. NT LASACO ASSURANCE PLC. 0.50 LAW UNION AND ROCK INS. PLC. NT LINKAGE ASSURANCE PLC 0.50 MANSARD INSURANCE PLC 1.68 MUTUAL BENEFITS ASSURANCE PLC. 0.50 N.E.M INSURANCE CO (NIG) PLC. 0.50 NIGER INSURANCE CO. PLC. 0.50 OASIS INSURANCE PLC NT PRESTIGE ASSURANCE CO. PLC. 0.50 REGENCY ALLIANCE INS. COY PLC NT SOVEREIGN TRUST INSURANCE PLC NT STACO INSURANCE PLC 0.50 STANDARD ALLIANCE INS. PLC. NT UNIC INSURANCE PLC. 0.50 UNITY KAPITAL ASSURANCE PLC 0.50 UNIVERSAL INS. COMPANY PLC 0.50 Micro Finance Banks FORTIS MICROFINANCE BANK PLC NT NPF MICROFINANCE BANK PLC NT Mortgage Carriers, Brokers &Services ABBEY BUILDING SOCIETY PLC NT ASO SAVINGS AND LOANS PLC 0.50 RESORT SAVINGS & LOANS PLC 0.50 UNION HOMES SAVINGS&LOANS PLC NT Other Financial Institutions CRUSADER ( NIG) PLC. 0.50 DEAP CAPITAL MGT & TRUST PLC NT NIG SEW. MACH. MAN. CO. PLC. NT NIGERIA ENERYGY SECTOR FUND NT ROYAL EXCHANGE PLC. 0.51 HEALTHCARE Healthcare Providers EKOCORP PLC. 5.05 Medical Equipment UNION DIAGNOSTIC &CLINICAL PLC NT Medical Supplies MORISON INDUSTRIES PLC. 6.68 Pharmaceuticals EVANS MEDICAL PLC. 1.05 FIDSON HEALTHCARE PLC 0.84 GLAXO SMITHKLINE CONSUMER PLC 31.80 MAY & BAKER NIGERIA PLC. 1.33
NOTE NT=Not Traded on 31-08-12
QUANTITY
52 WK HIGH
52 WK LOW
SHARES OUTSTANDING
EPS
MOV. (%)
Previous
8 724 183 11 180 280 737
0.64 33.00 16.15
0.50 14.53 6.40
2 200 000 000 476 955 000 1 000 000 000
0.00 8.23 1.69
N/A 5.00 0.74
NT 30.00 14.89
NT
4.26
4.26
60 000 000
0.00
N/A
NT
173 637
1.49
0.48
1 199 549 736
0.04
2.26
1.33
24 241 NT NT NT 82 371
2.54 7.60 8.82 8.28 42.50
0.74 5.81 5.32 5.52 28.70
2 191 895 983 963 900 300 389 151 408 821 666 666 1 600 720 323
0.21 0.30 0.00 0.35 7.03
-0.84 N/A N/A N/A N/A
1.19 NT NT NT 33.86
150 000 NT
26.00 95.49
14.09 95.49
148 500 000 196 876 000
0.00 4.50
N/A N/A
NT NT
NT NT
7.97 14.46
2.46 14.46
920 573 765 125 000 000
0.00 0.00
N/A N/A
NT NT
339 530 NT
62.26 8.69
21.55 3.01
1 200 000 000 20 000 000
4.11 3.66
1.79 N/A
26.25 6.94
NT 720 332
7.28 20.15
7.28 8.82
1 375 000 000
0.00 1.66
N/A 3.09
NT 9.70
50 NT
100.00 50.00
97.00 50.00
20 000 000 250 019 781
11.75 0.75
N/A N/A
NT NT
59 500
0.50
0.50
4 772 528 415
0.00
N/A
0.50
NT NT 485 318 22 005 991 368 385 1 251 837 NT
4.63 0.68 255.00 7.28 3.20 122.30 0.97
2.23 0.68 186.00 5.23 1.61 72.50 0.93
900 000 000 272 160 000 1 474 925 519 2 112 914 681 562 000 000 7 562 562 340 126 000 000
0.00 0.03 12.04 0.07 0.00 5.21 0.00
N/A N/A 1.20 N/A N/A 2.76 N/A
3.28 NT 249.00 8.42 NT 119.70 NT
47 150
48.91
38.31
640 590 362
3.15
N/A
38.50
NT 4 632 547 12 770 417 135 730 1 061 458 NT 500 1 475 173 NT 210 100 NT
0.50 19.90 16.20 95.00 6.60 2.70 43.96 6.70 5.66 0.88 4.22
0.50 4.15 3.64 52.50 1.91 1.21 21.48 3.86 5.66 0.50 4.22
2 000 000 000 5 000 000 000 12 000 000 000 1 879 210 666 7 930 197 658 3 722 493 620 178 200 000 40 000 000 1 233 375 004 360 000 000
0.00 0.00 0.59 3.60 0.36 0.00 1.20 0.81 0.16 1.13 0.00
N/A -5.39 -5.23 2.88 0.00 N/A N/A -4.08 N/A -12.79 N/A
NT 6.49 4.40 52.00 2.00 NT 21.48 4.90 5.94 0.86 NT
625 405 110 133
29.20 500.00
9.15 367.83
3 129 188 160 792 656 250
1.24 21.21
7.21 4.75
16.65 525.06
100 NT 249 312 NT
15.58 42.66 6.75 3.67
10.03 36.19 3.01 2.66
63 360 000 819 000 000 300 000 001
3.90 1.61 0.54 0.00
N/A N/A -0.33 N/A
NT NT 3.01 2.88
298 027 1 268 518
43.50 36.45
22.07 22.56
3 176 381 636 3 783 296 250
0.51 1.32
-4.67 0.26
23.98 35.24
NT
0.97
0.57
843 284 027
0.00
N/A
NT
3 268 445 6 021 762 2 698 976 22 890 534 28 426 429 3 828 683 12 354 962 8 487 510 3 750 278 17 555 419 36 778 426 957 770 1 149 372 409 146 41 623 960
11.10 9.27 17.05 3.20 16.12 8.30 17.81 10.17 11.38 2.91 4.40 10.07 1.92 1.75 16.70
4.76 2.01 9.97 1.14 8.50 3.04 11.64 2.73 6.40 0.97 1.64 1.96 0.50 0.50 11.70
17 888 251 479 14 475 243 105 9 873 614 567 28 974 797 023 32 632 084 358 16 271 192 202 29 146 482 209 13 219 334 676 18 750 000 000 12 563 091 545 32 334 693 693 13 509 726 273 33 675 576 085 12 821 249 880 31 396 493 790
0.63 0.00 2.61 0.19 1.37 0.60 0.59 0.39 0.54 0.43 0.01 2.20 0.00 1.34 1.41
0.00 1.12 0.49 7.69 3.75 0.00 1.54 1.13 4.04 3.96 5.36 2.00 0.00 0.00 -0.65
7.70 2.68 10.25 1.30 13.05 3.00 17.53 2.65 6.44 1.01 4.29 5.00 0.50 0.50 15.48
NT 2 080 326 NT 200 2 455 844 NT 13 908 000 24 300 456 756 NT NT 262 030 37 332 NT 115 000 NT 700 1 326 862 2 330 304 40 100 200 NT 51 600 NT NT 100 000 NT 400 000 2 000 73 114
0.50 1.01 0.64 0.50 1.20 0.50 3.51 0.50 0.69 0.50 0.50 0.80 0.50 0.50 0.50 0.61 0.50 1.93 0.50 0.66 1.11 0.50 2.35 0.50 0.52 0.50 0.50 0.50 0.50 0.50
0.50 0.50 0.61 0.50 0.61 0.50 1.31 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.95 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
20 585 000 000 7 809 391 256 211 626 000 6 000 000 000 10 372 624 157 8 820 010 363 5 100 846 808 8 847 298 420 4 549 947 000 3 827 485 380 720 000 000 5 061 804 000 6 420 427 449 28 000 000 000 7 323 313 227 3 437 330 500 4 083 713 569 10 000 000 000 7 998 705 336 5 332 830 881 5 649 693 923 5 003 506 791 2 508 315 436 6 668 750 000 5 203 757 266 6 141 087 609 8 493 173 450 2 581 733 505 13 000 000 000 16 000 000 000
0.00 0.09 0.00 0.06 0.10 0.01 0.27 0.00 0.00 0.00 0.00 0.06 0.00 0.02 0.02 0.10 0.00 0.08 0.10 0.25 0.01 0.02 0.11 0.03 0.10 0.00 0.00 0.00 0.01 0.00
N/A 0.00 N/A N/A 0.00 0.00 0.00 N/A N/A N/A N/A N/A 0.00 N/A N/A N/A 0.00 5.00 N/A 0.00 N/A N/A 0.00 N/A 0.00 N/A N/A N/A N/A N/A
NT 0.50 NT 0.50 0.58 NT 1.30 0.50 0.51 NT NT 0.51 0.50 NT NT NT 0.50 1.60 0.50 0.50 NT NT 0.50 NT NT 0.50 0.50 NT 0.50 NT
NT NT
5.75 1.05
NT 800 000 440 000 NT
1.51 0.50 0.50 0.99
1.33 0.50 0.50 0.50
4 200 000 000 8 679 148 676 13 175 732 404 7 812 500 000
0.03 0.10 0.00 0.00
N/A N/A N/A N/A
NT 0.50 0.50 NT
300 000 NT NT NT 278 900
0.61 2.02 0.15 552.20 0.66
0.50 2.02 0.15 555.20 0.50
3 778 005 975 1 333 333 333 5 880 000 2 500 000 3 608 657 661
0.00 0.00 0.00 12.68 0.05
N/A N/A N/A N/A N/A
NT NT NT NT 0.50
91
5.31
5.05
498 600 908
0.12
N/A
5.05
NT
0.50
0.50
3 553 138 528
0.00
N/A
NT
100 000
10.54
7.39
152 178 750
0.00
N/A
7.39
97 040 217 000 299 164 94 220
N/A=Not Avialable
1.45 3.20 29.65 5.61
0.50 0.76 19.30 1.62
486 473 856 1 500 000 000 956 701 192 980 000 000
0.19 0.27 2.41 0.21
-7.89 9.09 4.19 -16.35
1.14 0.77 30.52 1.59
SECURITY
PRICE (=N=)
NEIMETH INT PHARM PLC 0.76 NIGERIA-GERMAN CHEMICALS PLC. NT PHARMA-DEKO PLC. NT ICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 Computers and Peripherals OMATEK VENTURES PLC 0.50 Electronic Communications Services MTECH COMMUNICATIONS PLC NT IT Services NCR (NIGERIA) PLC. 13.12 TRIPPLE GEE AND COMPANY PLC. NT Processing Systems CHAMS PLC 0.50 E-TRANZACT INTERNATIONAL PLC NT Telecommunications Carriers STARCOMMS PLC NT Telecommunications Services IHS NIGERIA PLC PREF SHARES NT IHS PLC NT MTI PLC NT INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. NT ASHAKA CEM PLC 9.70 BERGER PAINTS PLC 7.63 CAP PLC 29.00 CEMENT CO. OF NORTH.NIG. PLC 4.22 DANGOTE CEMENT PLC 114.10 DN MEYER PLC. 0.81 FIRST ALUMINIUM NIGERIA PLC NT IPWA PLC 0.73 LAFARGE WAPCO PLC. 44.01 PAINTS & COATINGS MANFACT.PLC 2.09 PORTLAND PAINTS & PRDT NIG. PLC NT PREMIER PAINTS PLC. NT Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC 2.00 CUTIX PLC. 1.44 NIGERIAN WIRE AND CABLE PLC. NT NIGERIAN WIRE IND. PLC NT Packaging/Containers ABPLAST PRODUCTS PLC. NT AVON CROWNCAPS & CONTAINERS NT GREIF NIGERIA PLC 12.98 NIG. BAGS MANFACT. COY PLC 1.50 POLY PRODUCTS (NIG) PLC. NT W A GLASS IND. PLC. NT Tools and Machinery NIGERIAN ROPES PLC 7.85 STOKVIS NIG PLC. NT NATURAL RESOURCES Chemicals B.O.C. GASES PLC. 5.98 Metals ALUMACO PLC NT ALUMINIUM EXTRUSION IND. PLC. NT Non-Metallic Mineral Mining MULTIVERSE PLC 0.50 Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT THOMAS WYATT NIG. PLC. NT OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.57 Integrated Oil and Gas Services OANDO PLC 14.00 Petroleum &Petroleum Products Distributors AFROIL PLC NT BECO PETROLEUM PRODUCT PLC 0.50 CONOIL PLC 19.73 ETERNA PLC. 2.30 FORTE OIL PLC. 10.47 MOBIL OIL NIG PLC. 111.51 MRS OIL NIGERIA PLC. 32.29 TOTAL NIGERIA PLC. 128.01 SERVICES Advertising AFROMEDIA PLC 0.50 Apparel Retailers LENNARDS (NIG) PLC. NT Automobile/Auto Part Retailers R T BRISCOE PLC. 1.80 Courier/Freight/Delivery RED STAR EXPRESS PLC 2.57 TRANS-NATIONWIDE EXPRESS PLC. NT Employment Solutions C & I LEASING PLC. 0.50 Hospitality TANTALIZERS PLC 0.50 Hotels/Lodging CAPITAL HOTEL PLC NT IKEJA HOTEL PLC 1.14 TOURIST COMPANY OF NIGERIA PLC. NT TRANSNATIONAL CORP. OF NIG.PLC 0.89 Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 Printing/Publishing ACADEMY PRESS PLC. 1.64 LEARN AFRICA PLC 2.03 STUDIO PRESS (NIG) PLC. NT UNIVERSITY PRESS PLC. 4.52 Road Transportation ABC TRANSPORT PLCPLC 0.50 Specialty INTERLINKED TECHNOLOGIES PLC NT SECURE ELECTRONIC TECH.PLC NT Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 1.93 NIG. AVIATION HANDLING COY PLC 5.40 ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT CONSUMER GOODS Food Products MCNICHOLS PLC NT Personal/Household Products ROKANA INDUSTRIES PLC. NT HEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT INDUSTRIAL GOODS Electronic and Electrical Products NT ADSWITCH PLC. 1.63 NATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT OIL AND GAS Petroleum & Petroleum Products Distributors ANINO INTERNATIONAL PLC. NT CAPITAL OIL PLC NT RAK UNITY PET. COMP. PLC. NT UNION VENTURES & PET. PLC NT SERVICES Apparel Retailers UDEOFSON GARMENT FACT. NIG PLC NT Food/Drug Retailers and Wholesalers NT JULI PLC. 2.76 ETF’s Sector ETF NEWGOLD EXCHANGE TRADED FUND 2 638.00
QUANTITY
52 WK HIGH
52 WK LOW
SHARES OUTSTANDING
EPS
MOV. (%)
Previous
217 708 NT NT
1.96 12.91 4.28
0.76 8.59 3.50
1 925 717 268 153 786 012 100 000 000
0.09 0.00 0.00
-15.56 N/A N/A
0.90 NT NT
3 901 600
0.52
0.50
2 960 000 000
0.08
0.00
NT
500
0.50
0.50
2 941 789 472
0.04
N/A
0.50
NT
0.91
0.91
4 966 666 668
0.00
N/A
NT
5 003 NT
18.28 3.59
13.12 2.41
108 000 000 492 825 600
1.82 0.00
N/A N/A
NT NT
40 000 NT
0.50 4.97
0.50 4.04
4 620 600 000 4 200 000 000
0.00 0.00
N/A N/A
NT NT
NT
1.47
0.50
6 878 478 096
0.00
N/A
NT
NT NT NT
2.25 3.50 0.50
0.00 2.46 0.50
4 400 000 000 4 893 594 400
0.00 0.00 0.00
N/A N/A N/A
NT NT NT
NT 355 314 427 608 166 087 41 740 95 704 68 423 NT 254 99 615 300 NT NT
3.32 30.00 12.57 43.98 15.49 132.51 3.51 0.75 0.99 48.05 3.36 5.28 13.40
2.86 9.10 7.27 14.50 4.20 95.00 0.93 0.50 0.91 37.00 0.52 2.27 10.93
260 000 000 2 239 453 125 217 367 585 560 000 000 1 241 548 285 15 494 019 668 242 908 200 2 109 928 275 513 696 000 3 001 600 004 792 914 256 400 000 000 75 000 000
0.00 1.60 0.15 1.76 1.83 8.01 0.00 0.00 0.00 1.74 0.16 0.39 0.00
N/A 2.11 4.95 9.10 2.43 0.97 N/A N/A N/A 0.02 N/A N/A N/A
NT 9.50 7.27 26.58 4.12 113.00 0.66 NT 0.73 44.00 NT NT NT
1 000 32 642 NT NT
2.00 2.50 0.73 2.58
2.00 1.33 0.50 2.58
510 396 608 2 220 000 000 15 000 000
0.03 0.11 0.00 0.00
N/A -4.64 N/A N/A
2.00 1.51 NT NT
NT NT 400 2 227 819 NT NT
3.98 6.91 15.03 3.60 1.86 0.63
3.98 2.19 13.28 1.60 1.05 0.63
25 000 000 683 974 528 42 640 000 6 215 000 000 240 000 000 199 066 550
0.00 0.15 0.90 0.22 0.30 0.00
N/A N/A N/A -1.96 N/A N/A
NT 2.19 NT 1.53 NT NT
10 000 NT
8.69 0.14
8.26 0.14
265 409 280 2 918 000
0.00 0.00
N/A N/A
7.85 NT
750
9.20
5.70
393 120 000
0.93
0.00
5.98
NT NT
7.75 12.39
7.75 10.55
75 600 000 100 000 000
0.00 0.13
N/A N/A
NT NT
1 100
0.50
0.50
4 058 989 226
0.00
N/A
0.50
NT NT
3.22 1.38
3.22 1.38
50 000 000 220 000 000
0.04 0.00
N/A N/A
NT NT
5 311 711
1.87
0.54
6 262 701 716
0.16
-6.56
0.61
2 308 055
78.97
13.95
2 262 711 568
7.47
-0.71
14.10
NT 3 479 260 172 908 544 448 124 169 4 672 90 386 14 810
20.71 0.70 41.89 5.59 28.69 163.50 72.00 240.00
20.71 0.50 19.61 2.12 9.12 111.51 32.29 125.00
125 487 475 3 716 976 579 693 952 117 1 249 162 828 1 080 280 628 300 496 051 253 988 672 339 521 837
0.00 0.00 5.98 0.88 0.00 13.06 4.08 11.22
N/A N/A -4.96 0.88 0.48 0.00 N/A 0.00
NT 0.50 20.76 2.28 10.42 111.51 NT 128.01
9 090
0.72
0.50
4 035 497 307
0.00
N/A
0.50
NT
3.48
3.48
0.19
N/A
NT
225 295
3.65
1.12
980 294 400
0.22
11.80
1.61
1 921 800 NT
3.67 6.40
2.11 3.28
589 496 310 198 819 763
0.63 0.26
-6.88 N/A
2.76 NT
134 700
1.64
0.85
865 808 912
0.20
N/A
0.50
500
0.75
0.50
3 211 627 907
0.01
N/A
0.50
NT 418 133 NT 12 777 703
8.00 2.59 4.76 1.82
3.00 1.16 4.31 0.50
1 548 780 000 2 078 796 396 1 772 884 297 25 813 998 283
0.18 0.92 0.00 0.22
N/A 0.00 N/A -6.32
NT 1.14 NT 0.95
19 000
0.50
0.50
8 000 000 000
0.00
N/A
0.50
3 000 340 NT 1 114 089
3.68 8.00 2.92 6.82
1.64 1.94 2.78 3.09
403 200 000 771 450 000 425 641 111
0.14 0.29 0.01 0.50
N/A N/A N/A -0.44
1.64 2.03 NT 4.54
8 700
0.80
0.50
1 507 000 000
0.00
N/A
0.50
NT NT
5.15 1.88
4.90 0.80
236 699 511 5 631 539 736
0.00 0.03
N/A N/A
NT NT
5 100 2 245 431
2.78 11.75
1.54 5.15
634 000 000 1 230 468 750
0.38 0.81
N/A -10.00
1.74 6.00
NT
1.43
1.04
45 000 000
0.12
N/A
1.08
NT
1.02
1.02
201 885 335
0.00
N/A
1.02
NT
0.60
0.60
30 000 000
0.00
N/A
NT
NT
0.50
0.50
24 898 850
0.00
N/A
NT
NT 500
1.88
1.63
125 005 250
0.00
N/A
NT 1.63
NT
0.50
0.50
6 650 000
0.00
N/A
NT
NT NT NT NT
0.21 0.50 0.31 0.63
0.21 0.50 0.31 0.63
24 200 000 5 857 500 000 15 000 000 98 600 000
0.00 0.00 0.00 0.00
N/A N/A N/A N/A
NT 0.50 NT NT
NT NT 16 000
0.50
0.50
20 000 000
0.00
N/A
3.05
2.76
194 700 000
0.00
N/A
NT NT 2.76
100
2 706
2 422
0.00
2 638.00
40
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
41
Law & Justice nationalmirrorlaw@yahoo.com
“Courts of law, as most serious and sacred institutions do not build upon hypothesis.” JUSTICE NIKI TOBI RETIRED JUSTICE OF THE SUPREME COURT
Presidency, governors, NBA disagree on state police N’Assembly should allow CBN maintain its independence –Olatujoye 43
Jonathan
Why Gani dragged Bar disciplinary panel to court 46
Lawyers at the Bar conference 45
The 52nd Annual General Conference of the Nigerian Bar Association (NBA) ended last Friday in Abuja. EMMANUEL ONANI reports the proceedings at the conference.
T
he nagging issue of state police and the divergent opinions that have accompanied it since it was raised at the Asaba Retreat of the Senate Committee on Constitution Review, reverberated at the just-concluded 52nd Annual General Conference (AGC) of the Nigerian Bar Association (NBA), held at the International Conference Centre, Abuja. It was, indeed, a valedictory conference to mark the end of the Joseph Dauda-led national executive of the body of lawyers in Nigeria. Declaring the conference open was the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan, who stormed the venue of the conference with a full complement of the service chiefs, as a way of underscoring the growing threats to security and the compelling need to guarantee, at all times, the maximum security of the president. Tagged:“Nigeria as Emerging Market: Redefining Our Laws and Politics for
New NBA President, Mr. Okey Wali (SAN)
Growth,”, the conference witnessed a rather low attendance; a development that may not be unconnected with the seemingly hike in conference fees imposed on lawyers. The highpoint of Jonathan’s opening speech was the declaration that Nigeria was not ripe for state police. The president, who did not mince words in cautioning against state police at a time the country’s democracy is still a fledging one, feared that state governors will convert state police into a weapon to hound the opposition and probably run them out of town, as is the case with States Independent Electoral Commissions (SIECs), where “he who pays the piper calls the tune”. The President justified his assertion thus:“On the issue of state police, everybody knows I have been Deputy Governor and Governor in Bayelsa state, there was a time we were frustrated and we felt that
THE HIGHPOINT OF JONATHAN’S OPENING SPEECH WAS THE DECLARATION THAT
NIGERIA WAS NOT RIPE FOR STATE POLICE
we should have our police, that we would be able to manage criminality in our state better because of our local environment. “Police from other parts of the country find it difficult to go into the waters, but for us who were born inside the water, even in the night, we can enter ordinary canoe to go to anywhere and we feel that if we have our local police, it will be better for us because our police can reach everywhere in our state. “But when I discussed the issue of state police with former presidents before a state council meeting, they said it is a good idea, that probably one day we’ll get there, and that is the emphasis I want to make, one day we’ll get to that point. But presently, we have to be careful on how we go about it. “Experiments have been made, there was a time when the police came up with a policy that police officers from the rank of inspector and below should be posted to their states of origin as a way of testing whether police familiar with the environment will make changes, but it was realized that when police officers from the rank of inspector down were posted to their states of origin, it was worst off to manage the situation, so the police had to discontinue that policy. “We also feel that looking at the federal level and the way the governors are CONTINUED ON PAGE 42
42
Law & Justice
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
‘Nigeria is overdue for state police’ CONTINUED FROM PAGE 41
handling elections in their states with the state electoral commissions, where opposition parties hardly win even councillorship elections. “So, if there is state police and the governors manipulate their state police the way they are manipulating their state electoral commissions, the instability that it will create even what we are witnessing will be a child’s play.” Interestingly, however, the immediate past President of the NBA, Mr. Joseph Daudu, (SAN), disagreed with Jonathan when he maintained, “with due respect” that Nigeria was indeed “overripe” for state police. He said that the objective of creating state police and community policing was not to score political goal, but chiefly for the maintenance, enforcement as well as restoring law and order in society. His words: “The truth is that Nigeria is overripe for state and community police, the opponents of the state police only cite one constraint which is that governors would use their respective state police to perpetuate their political interests in the run up to elections. Cogent as that misgiving may appear, it is not an obstacle to the proper policing that state police will provide, it must be said outright that a police force is not created for political objectives or for the sole benefit of politicians who are less than two per cent of the population. A police force is created for the maintenance of law and order to ensure free movement for the conduct of economic, social and cultural activities within the state.” Rising in defence of Jonathan and Daudu were the governors of Edo and Imo states, Comrade Adams Oshiomhole
Oshiomhole
and Owelle Rochas Okorocha, both of whom spoke on the propriety or otherwise of establishing state police. Oshiomhole, who kicked against the move stated: “I am not for state police. If created, it would become instruments of state powers. Unless there is good governance and responsible leadership in Nigeria, this country will continue with the current circle of lamentation. The Federal Government does not need more than 30 percent of the national income to run its affairs. The majority of developmental challenges lie with the state and local governments which should get more funds to develop the country.” In propounding a new theory of “kwashiokoracy”, Okorocha pointed out that “States should have police… We cannot harness effectively, the abundant natural resources in our land, until we decentralise the powers concentrating at the centre to allow for the practice of true federalism”.
Daudu
THE IKEJA BRANCH OF THE NBA STUNNED THE JUST-CONCLUDED ANNUAL GENERAL CONFERENCE OF THE ASSOCIATION WHEN ITS MEMBERS PROTESTED Meanwhile, the Ikeja branch of the NBA stunned the just-concluded Annual General Conference of the association when its members protested over what was described as the former president’s alleged “highhandedness ” and the “undemocratic manner” the conference was organised. Leading the crowd of protesting lawyers from Ikeja branch was the chairman, Monday Onyekachi Ubani, who spoke with our correspondent at the gate of the conference hall, watched
Okorocha
by gun-toting, combat-ready security operatives. Ubani said “What prompted this protest by the Ikeja branch of the NBA, is the high cost of the conference; we chose a channel to communicate with the national president and the entire executive that that amount has to be reviewed in the light of the economic reality. Seventy five thousand (N75,000) for lawyers from 20 years and above, young lawyers, N20, 000, it does not include accommodation, it does not include feeding, transportation and other logistics, that is very high for an average lawyer who earns next to nothing as salary. And, we were not responded to and so we felt that the only way for us to send a right signal to the incoming administration, is to do this so that we expect our new national president, that is taking over, to make a pronouncement concerning this issue of conference fee that he is reverting to the status quo or a minimal increase. CONTINUED ON PAGE 45
Ayoola, quintessential jurist, ex-Chief Justice of Gambia Judicature WALE IGBINTADE
J
ustice Emmanuel Olayinka Ayoola, a retired Justice of the Supreme Court and jurist of International repute commenced his legal practice in 1959 in Ibadan. He has remained a dependable advocate of law and justice both at the Bar and the Bench for more than a span of 27 years. His knowledge of the law over a very wide field and sound judgment has been of great value to the country. Justice Ayoola has traversed the legal profession both at home and international levels like a colossus. The jurist ranked among the very few Nigerian judges that have shaped the course of the judiciary and justice dispensation in the country and by extension, the continent of Africa. His well-researched and analytical judgments and rulings in decided cases can hardly be faulted by his fellow Judges. Indeed, Ayoola is one of the incorruptible judges to have emerged from the Nigerian Bench. Due to his brilliance on the Bench,
he was seconded by the Federal Government of Nigeria to the Gambia in 1980, as a Justice of the Court of Appeal of Gambia. In 1983, he became the Chief Justice of the Gambia, a position he occupied until 1992 when his secondment to that country ended after 12 years of meritorious service that earned him the Gambian “National Honour of the Commander of the National Order of the Republic of the Gambia” (CRG) in1990. He retired to Nigeria in 1992 and he was appointed a Justice of the Court of Appeal on 8th July, 1992. Six years later, he was elevated to the nation’s apex court, as a Justice of the Court, the position he held until he retired in October, 2003 having attained the mandatory retirement age of 70. Born on October 27, 1933 at Ilesa in Osun State, he attended Temidire Model School from 1939 to 1943 and Ilesa Grammar School from 1944 to 1950 for his secondary education. He studied as an external student of the University of London and was a fulltime undergraduate at Oxford University from 1957 to 1959. He obtained the Bachelor of Laws de-
Ayoola
gree, LLB, from the University of London in 1957 and the Bachelor of Arts degree from Oxford with Honours in Jurisprudence and was called to the English Bar at the Lincoln’s Inn, London, on November, 25 1958. He was admitted as Barrister and Solicitor of the Supreme Court of Nigeria on September 4, 1959 and started private legal practice that
same year. After 17 eventful years as a legal practitioner, Ayoola was appointed a judge of the High Court in the defunct Western Nigeria on February 1, 1976. Three months later, he became a judge of the High Court of Oyo State following the creation of additional 19 States. While a Justice of the Court of Appeal, Ayoola was appointed a Justice of the Court of Appeal of Seychelles. On August 2, 2002, the former Secretary-General of the United Nations, Mr. Kofi A. Annan appointed him as one of the Judges of the Special Court for Sierra Leone to sit on appeal coming from Special Trial Court for Sierra Leone. Since his retirement from the Bench in 2003, Ayoola has been one of the vocal voices against corrupt practices both in the private and public sectors of the economy. In September, 2005, he was appointed as the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), following the expiration of the tenure of Justice Mustapha Akanbi, the first Chairman of the Commission. He has served his term as ICPC Chairman and he is enjoying his retirement.
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N’Assembly should allow CBN to maintain
Mr. Anthony Olusegun Olatujoye is an Abuja-based legal practitioner with post -call experience spanning 34 years. He is also a renowned banking and financial law expert. He spoke with the Assistant Head, Judiciary Desk, KAYODE KETEFE on legal issues relating to the CBN Act and administration of justice in the country, among others. Excerpts.
You rose through the ranks in the legal department of the Central Bank of Nigeria to become a director; with benefit of hindsight, can you recollect some of the challenges at the apex bank? I spent 32 years with the Central Bank of Nigeria. I came in as an Assistant Legal Officer in 1979 and then rose to the rank of Director in 2003. I will say without any equivocation that the last 14 years in the Bank threw up a lot of challenges. What with the number of banking reforms carried out by the different Governors that superintended over the affairs of the Bank during the said period. Global economic and financial challenges engulfed the Nigerian economy, thus putting great stress on monetary and fiscal policies of Government. Banking laws and regulations were rapidly formulated to address the shocks in the economy. The role of the bank’s legal department where I served can better be imagined. A number of Decrees (now Acts) on banking services were rolled out during the military interregnum, which called for proper implementation by the bank’s management. The in-house counsel task in ensuring strict adherence to these laws cannot be over emphasised. When you work as solicitor to Governors like Ola Vincent, the late Alhaji Abdulkadir Ahmed, Dr. Paul Ogwuma, Dr. Joseph Sanusi, Professor Charles Soludo and the incumbent Governor - Mallam Sanusi Lamido Sanusi, then you can safely say that you, like Apostle Paul, have finished the race and your place preserved in the annals of central banking services. In what way has your experience helped you to contribute to the development of the country’s financial laws? As a senior management lawyer and later Director, Legal Services, I participated and led in drafting the organic law of the Bank (CBN Act 1991and 2007), the Banks and other Financial Institutions Decree 1991(now Act), BOFI Bill 2007, the African Finance Corporation Constitutive Instrument; the AMCON Act 2010, the EFCC Act, E-transactions Bill; Ombudsman Bill, Nigerian International Financial Centre Bill; a number of Financial, Arbitration, Contract Practices etc, International Model Laws at the UN Commission for International Trade Law (UNCITRAR), New York, and Vienna. I must say that the drafting of the CBN Act 2007, AMCON Act 2010, BOFI Bill 2007, pending before National Assembly, among others, remain memorable for me particularly, as Legal Adviser to the CBN. I recall the presentation of the CBN and BOFI Bills 2007, to the Federal Executive Council for approval. Prof Charles Soludo, two Deputy Governors and my humble self defended the two Bills at the FEC which provisions brought the Bank’s laws in line with international best practices. The independence of the CBN, enshrined in the CBN Act 2007, which is now a subject of a fiery attack at the National Assembly, remains one great achievement for the Bank and, indeed, myself as Legal Adviser under whose superintendence the various sections of the law were put together. In May this year, you presented a memorandum on a Bill for an Act to amend the CBN Act 2007 at the public hearing by the National Assembly. What is the essence of the proposals contained in the bill you presented? Yes, the paper was actually presented on May 28, 2012, precisely. l was consulted by the Management of
Olatujoye
THE 2007 CBN ACT IS A GIANT LEAP FROM BACKWARDNESS TO CIVILISED NORMS AND PRACTICES OF CENTRAL BANKS
the CBN not only to do a paper on the proposed amendments to the CBN Act, but also to review the Bank’s memoranda on the said amendments before the Senate and the House of Representatives. The proposed amendments focused on the Bank’s financial autonomy, board composition, the place of the U.S dollar as a sub-legal tender currency in Nigeria, etc. My presentation was, therefore, to refresh the memory of the distinguished senators of the need to allow the CBN independence to be if only to fight inflation, meet international best practices and preserve robust monetary policy regime in Nigeria. I was, however, on all fours with the Senate on the issue of disallowing the use of the U.S dollar as a legal tender currency in our domestic economy. The presentation captured the need to preserve the bank’s autonomy in order to allow for prompt resolution of distress in the banking sub-sector and also put Nigeria on the same pedestal with advanced and emerging economies in central banking matters. Any legislation, which attempts to remove this kind of regime from the Central Bank is not helping the system at all. And, that is the thrust of my argument before the Senate that the National Assembly needs to allow the CBN to maintain its independence so it can have the power to quickly address grave problems in the financial system, and also in formulating monetary policies, which will stabilise the economy. And, I dare say that such independence of the CBN does not, in any way, undermine the oversight functions of the National Assembly. What inspired the amendments to the CBN Act in the first place? The purpose of the CBN Act 2007 is to strengthen the bank generally and bring it at par with other Central Banks both in the emerging and advanced economies, because the 1991 CBN Act did not give any measure of independence to the CBN to address very serious issues in the banking sub-sector. So the management decided
to enact the CBN Act 2007 by overhauling the 1991 Act. The raison-d’être for the 2007 CBN Act is to give financial, monetary policy and personnel autonomy to the bank. If you are asked to propose further amendment to the CBN Act, what will you say? In my presentation on the proposed CBN amendment Bill by National Assembly, I argued that it is rather too early to start amending the 2007 CBN Act. I still hold on to this position. The Central Bank has power to grant loans to distressed banks to enable them arrest grave financial situations, which can lead to systematic failures. Such loans don’t need any appropriation by the National Assembly, contrary to the understanding of members of the Senate and the House of Representatives. I think the Assembly members realised the rather daunting significance of the 2007 CBN Act and the growing influence of Lamido Sanusi in financial matters, so the need to bring CBN budget before them for appropriation. With respect, I believe the National Assembly is not agreeing to what other Central Banks uphold in their organic laws on independence. It seems clear to me that the 2007 CBN Act is a giant leap from backwardness to civilised norms and practices of Central Banks. If you are talking about financial autonomy, the Central Bank should be able to approve its budgets. But, the CBN is not the Alpha and Omega as far as central banking issues are concerned because at least twice a year, the Governor of the Central Bank, together with the management, is expected to meet with the National Assembly, and indeed the President, on the affairs of the Bank, and in my paper which you just mentioned, l even suggested that there should be both formal and informal engagements with members of the National Assembly so that the CBN can carry them along in all banking and financial matters being carried out by the Bank. Since you ask for amendment to the CBN Act, I will ask that the Fiscal Responsibility Act be made subject to the CBN Act. What essentially generated the misunderstanding between the CBN and the National Assembly? It is the communication gap between them. CBN does CONTINUED ON PAGE 44
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its independence –Olatujoye CONTINUED FROM 43 not need to wait until the National Assembly suggests or proposes to amend the law before the bank’s policies and activities are communicated to the parliament. That was why the N620 billion loan, granted to some eight to nine banks in 2009 by the CBN, received condemnation by National Assembly. Having passed the CBN Act in 2007, the National Assembly is well aware of the powers donated to the bank statutorily and wouldn’t have sought to remove such powers but for the said communication gap! So it is not strictly a case of failure of legislators to understand the fundamentals of central banking and indeed the economy but their desire to be carried along in matters touching and concerning the implementation of laws passed by them. I must however add that the CBN at times of banking failure cannot and should not be expected to wait for parliamentary intervention before taking action. A minute delay may run the economy aground. Consequently, the legislators and CBN management should be on the same page in growing the economy. Permit me to reiterate that the greatest thing that has happened to the financial system and indeed the Nigerian economy, in recent times, is the enactment of the CBN Act 2007. I will not easily forget the contributions of some of the leading members of the Federal Executive Council, to wit - President Obasanjo, Bayo Ojo , the Attorney General of the Federation; Ngozi OkonjoIweala, Finance Minister; Oby Ezekwesili; Nasir El-Rufai; and the CBN delegation - led by the then Governor, Prof Charles Soludo, deputy Governors, Dr. S. Usman, Pastor Tunde Lemo, and my humble self – Prince Anthony Olatujoye, the Legal Adviser, during the heated, but rewarding discussions on the bank’s independence and other issues when the CBN and BOFI Bills were laid before the Council. I cannot answer your question fully on the significance of the 2007 CBN Act, without saying a word on the developmental role of the bank. S.34 CBN Act empowers the CBN to play banking and financial role in the development of the Nigerian economy. So, when the CBN intervenes in agric development, Aviation, SMEES, etc in pursuance of S.34 of its Act, every good- thinking Nigerian should applaud, rather than demonise, the Governor and his team. The legislature had this pivotal role of the bank in mind in enacting the 2007 Act. The Central Bank Governors whom I had the rare opportunity to work with - Dr. Joseph Sanusi, Prof. Charles Soludo and the incumbent Governor - Lamido Sanusi, designed a number of policies which were meant to bring sanity to the financial services industry. All that remains is for these policies to run in a manner to ensure that Deposit Money Banks and other financial institutions are supervised strictly in accordance with the provisions of the Act, other laws and regulations. What is your take on the controversial plea bargaining practice in our justice administration? I have said it before, and wish to repeat that I do not have any serious issue with a system that encourages plea bargain. Though not particularly known to our jurisprudence, here is a process where an offender is ready to forfeit say, a high percentage of proceeds of crime, arising from corruption and other criminal activities. He makes a plea of guilt and allows the court to pronounce appropriate punishment, including recovery of money stolen as, for instance, head of government or any other officer in the public and private sectors. The purpose is to see that such offenders do not walk away with their loots after serving out terms of imprisonment. The Nigerian concept of plea bargain looks a little worrying. But when you consider the James Ibori trial in London, you will find the essence of plea bargain under a robust criminal justice system. The CBN enjoys its own form of plea bargain under section 65(1) of BOFI Act, 1991 (as amended), where the Governor is empowered to compound offences committed by errant banks and their officials. If properly craft-
IF PROPERLY CRAFTED IN OUR CRIMINAL JUSTICE SYSTEM, PLEA BARGAIN, BACKED BY AN INCORRUPTIBLE JUDICIARY, HAS A LOT TO OFFER ed in our criminal justice system, plea bargain, backed by an incorruptible judiciary, has a lot to offer. What is your take on our system of award of SAN rank? Award of SAN rank is a way to honour lawyers who have impacted positively in law development in Nigeria. But the honour is bestowed only on private legal practitioners, not on those of us who found our ways into the public service as legal advisers and who can hold their own in the quest for law development. The minimum requirements for conferment of the honour on lawyers are contained in the Legal Practitioners Act. But some of us who did not go straight into private practice but have contributed immensely to the development of the law should, I dare say, should be recognised. There should be a way of identifying and recognising in-house lawyers for this honour. For instance, professors of law who write books and teach law are elevated to the rank of Senior Advocates of Nigeria. It is a challenge to the Nigerian Bar Association and I think that at the appropriate time, lawyers who excel in public organisations should be honoured. Give it any name Senior Solicitors of Nigeria, or whatever nomenclature deemed appropriate! Mind you, lawyers don’t write any examination before becoming Senior Advocates, so it is not a question of who had written and passed examinations. Yes, now I am in private practice and there is no reason why after some time I should not be given that honour. I say this because I have one of the best law offices here in Abuja, we have the structure; we have everything that it takes to help develop the laws. What is your assessment of the Nigerian judiciary? I do not think that the problems of our judiciary are as monstrous as some people want us to believe. Though there are some challenges, but when you look at the totality of the structures on the ground, you will find that we have a very good Judiciary and eminent Judges. Though some of them may be a little bit on the down side of things as far as integrity is concerned!
By and large, will you then adjudge the Nigerian Judiciary to be above board? The judiciary is doing very well, notwithstanding the recent misunderstanding between the former Chief Justice of Nigeria and the suspended President of the Court of Appeal. I want to say that Justice Ayo Salami was my Permanent Secretary when I was serving in the Ministry of Justice in Ilorin, Kwara State during my NYSC in 1978 and I found in him a very wonderful personality and l don’t think he has changed from such personality. I have quite a number of my colleagues in private practice who speak well of him and l think that the Salami Issue is something that can be amicably resolved. My Lord, the new CJN, should find a way of bringing government and the Judiciary together to resolve the impasse. I believe that we have a listening President who should be willing to put the quagmire behind us. Looking back, what would you say attracted you to study law in the university? I would not say anything specific actually attracted me to study law because I was a science student, but I had a colleague at the Federal Ministry of Finance where I worked after my secondary school, who had so much passion for law but unfortunately he is late now. We were both clerical officers and honestly, he was able to convince me to study law. So we sat down together, took the ‘A’ levels together, in 1973, after a-year programme at the extra-mural studies of the University of Ibadan, Ebute Metta, Lagos. While I was able to make the “A’ Levels within a year, he had to wait for another year. Though he did not study law at the end of the day, he nevertheless rose to the rank of Assistant Comptroller-General, Customs Service before he died. So, there was no special reason or any personal attraction to read law other than my late friend’s persuasion derived from his love for the “lawyer’s wig and gown”. I had wanted to be a medical doctor but my good friend succeeded in persuading me to change. At that time in life, you hardly find someone to counsel you on career path other than your peers. I must express my indebtedness to late Lawrence Okunola Ogun, the wonderful Finance ministry friend who encouraged me to switch from medicine to law. May his soul rest in peace. What advice do you have for young lawyers? They should be hardworking, committed and shun the get-rich quick mentality. With hard work, ethical practices, commitment and patience, they would get to the top one day. They should not try to cut corners but believe in their own ability to excel.
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Task before new NBA president, Wali EMMANUEL ONANI ABUJA
U
narguably, the newly-inaugurated National Executive Committee of the NBA- led by Okey Wali (SAN) has a huge task ahead of it. Efforts must be geared, as a matter of urgent importance, to bring all aggrieved branches to a discussion table. This will, no doubt, heal wounds, especially those which the acrimonious election of July 17, 2012, left in its trail. Perhaps, in a veiled allusion to the division in the bar, the immediate past president said in his “flag-off “that, “We are moving away from the slogan of ‘the largest gathering of lawyers anywhere in the world’ and aspiring to be ‘the world’s most enlightened lawyers.” Even though Daudu talked about reforms, it appears that his idea of reform is not “people-centred. When he spoke of the need for reform in the NBA, Daudu
noted that: “To achieve this; Nigerian lawyers must embrace reform in thematic areas ranging from the quality of legal education to the quality of legal practice. Reform in the sense conceptualized by the Bar is not limited to electing national or branch officers alone, it is not a political matter, and it is a serious economic issue that concerns the well-being and economic potentialities of every lawyer. “When I became the president of this
great association, part of the platform on which I was elected was to improve the financial well-being of the Nigerian lawyer. It was apparent that all has not been well with the following key areas that touch on our professional livelihood; (a) our criminal justice system, (b) the quality of legal services provided by us, (c) the influx of a large number of fake lawyers, (d) the mechanism for enforcing discipline, (e) slow legal proceedings, (f) poor
economic environment, (g) corruption in the system, among a few of the factors that require immediate attention from each and every one of us i.e. lawyers. “The AGC is a congregation of lawyers gathered together for the serious business of deliberating on the future of the legal profession and the nation at large. It is not just a fulfillment of an annual convention for reunion and merriment”, he summed up.
Presidency, governors, NBA disagree on state police CONTINUED FROM PAGE 42 He said, “The huge profits they have been declaring do not reflect on us. The conference fee is too high, it is unreasonable, it is unbearable, nobody can afford it. If only all of us were allowed to democratically debate the fees and make a proper input as to how they can raise
the money. Ubani stated that ‘’ Imagine a situation, I am 20 years at the bar and I’m being asked to pay N75, 000 as conference fee and a Senior Advocate of Nigeria that most of them collect briefs of N200 million, N300 million, they are being asked to pay only N150, 000. Maybe SANs who get such fat briefs would
have been asked to pay like N500, 000 or even N1, 000, 000 for them to raise the money. The amount of money and how we were not even allowed to debate the fee is undemocratic; this is what is causing the grouse. The people you are seeing there (conferees) are government-sponsored”, Ubani concluded amidst chants of “solidarity forever...”
PERSONALITIES AT THE JUST-CONCLUDED NBA CONFERENCE IN ABUJA LAST WEEK
L-R: President Goodluck Jonathan; Senator Victor Ndoma-Egba; and the Attorney-General of the Federation, Mr Mohammed Bello Adoke.
A cross section of lawyers protesting the arbitrary increase of conference fees shortly after the opening ceremony of the 52nd Annual Conference of the Nigerian Bar Association in Abuja last week.
L-R: Immediate past President of the NBA, Mr. Joseph Daudu (SAN); Minister of State for Education, Mr. Nyesom Wike and immediate past Secretary of the NBA, Mr. Ibrahim Eddy Mark.
A cross-section of lawyers at the conference
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Why Gani dragged Bar disciplinary panel to court T hirty one years ago, a publication titled Nigerian Constitutional Law Reports 1981 Volume One edited by Chief Gani Fawehinmi, ‘’the famous reputable and controversial Nigerian lawyer’’ appeared in a weekly news magazine, ‘’West Africa’’ edition of March 23, 1981. This publication became an albatross for Fawehinmi as the Bar to which he belonged said it amounted to a professional misconduct. The office of the Attorney General of the Federation, by a letter dated December 1, 1981, wrote the radical lawyer and asked him to defend himself of the alleged misconduct. One Mrs. O.O Fatunde, of the Federal Ministry of Justice, who signed the letter said the conduct offended against Rule 33 and 34 of the Rules of Professional Conduct in the legal profession published as Government Notice No. 69, No 5 of Vol. 67 in the Official Gazette of January 18, 1980 which prohibits adverting, touting and publicity. The office, therefore, directed Fawehinmi ‘’to show cause by way of written explanation within 14 days thereof why the matter should not be referred to the Legal Practitioners’ Disciplinary Committee for appropriate action.’’ Before the expiration of the 14 days notice, the LPDC on December 3, 1981 filed charges against the lawyer citing him for professional misconduct. In the charges, the Federal Ministry of Justice, alleged that Fawehinmi engaged himself in ‘’adverting, touting and publicity’’ in a publication in the weekly news magazine, the ‘’West Africa’’ in its edition of March 23, 1981. Specifically, the LPDC alleged that Fawehinmi committed the misconduct when he described himself in the ‘’West Africa’’ news magazine as the ‘’famous, reputable and controversial Nigerian lawyer.’’. The LPDC filed two charges under section 10 (1) (a) of the Legal Practitioners’ Act, 1975 against Fawehinmi and asked him to appear before the committee to defend himself of the allegations. Sensing that the committee might be biased against him, the lawyer pre-empted the proceedings and filed an ex-parte motion, seeking an order of a Lagos High Court to stop the LPDC, as constituted, from proceeding with the hearing of the matter. Fawehinmi’s application was granted at the high court by Justice Candide Ademola Johnson on January 27, 1982.The next day, the lawyer, by a motion on notice of that date, put the LPDC on notice. By an affidavit sworn to on February 4, 1982 by the then President of the Nigerian Bar Association (NBA), Mr. Adetunji Fadayiro, he said the NBA National Executive Committee (NEC), at its meeting in Calabar on April 24, 1981 resolved, among others, to refer Fawehinmi’s conduct to the Bar disciplinary committee. The matter was subsequently referred to the committee by the NEC secretariat which reported back to the NEC at its meeting in Maiduguri on July 3, 1981. The obvious implication of this was that the LPDC was maintaining that the then Attorney General of the Federation, Chief Richard Akinjide (SAN) was not responsible for sending the matter to the disciplinary committee and, therefore, could not be said, as claimed by Fawehinmi, that he was in desperate hurry to nail him. The embattled lawyer denied Fadayiro’s
Lagos lawyer and human rights crusader, Chief Gani Fawehinmi, in one of his numerous legal battles, crossed path with the Legal Practitioners Disciplinary Committee (LPDC) of the Bar in 1981. FRANCIS FAMOROTI, Ag. Head, Judiciary writes.
FAWEHINMI SAID THE CHAIRMAN OF
LPDC WAS THE FEDERAL ATTORNEY GENERAL AND JUSTICE MINISTER THE
AND HE WAS ALSO THE COMPLAINT AND PROSECUTOR
Fawehinmi
FAMOUS CASES affidavit and at the hearing of the matter at the high court, Dr. Olu Onagoruwa, was the lead attorney for Fawehinmi while Chief F.R.A Williams (SAN) led the team appearing for LPDC. The grounds of Fawehinmi’s action was that the active involvement of the office of the Attorney General of the Federation as the complainant, and the prosecutor in the complaint and charges against him before the disciplinary committee in which the AGF is the chairman contravened or was likely to contravene his fundamental right under section 33 of the 1979 Constitution. The lawyer and human rights activist contended that the constitution of the LPDC vis-à-vis the complaint and charges against him did not secure the independence and impartiality of the committee. Besides, Fawehinmi said the chairman
of the LPDC was the Federal Attorney General and Justice Minister and he was also the complaint and prosecutor. He argued that this being so, the proceedings of the committee, by the way it was constituted in this particular instance, would be contrary to the principle of natural justice. Fawehinmi said as a result of the part played by Akinjide, the then AGF, in bringing the complaint and charges to the LPDC, there was the real likelihood of bias on his part as the chairman of the committee in the consideration and determination of the said complaint and charges. At the conclusion of the hearing, Justice Johnson, who was then the state Chief Judge, decided the case in Fawehinmi’s favour and it accordingly stopped the committee from adjudicating on the charges framed against the activist. Dissatisfied with the verdict, the LPDC lodged a notice of appeal at the Federal Court of Appeal. The Appellate Court, in a unanimous and considered judgment of five justices, dismissed the appeal. In the lead judgment of the President of the Court of Appeal, Justice Mamman Nasir, to which the other justices concurred, he said ‘’the crux of the matter is to give the person accused a fair hearing.’’ The appeal court prohibited Akinjide and three other members of the disciplinary committee against whom the complaint had been made from taking part in any future proceedings as members of the committee for the frame against the respondent. The three other members were,
Fadayiro, Messrs. D.C.O Njemanze and Idowu Sofola. Aggrieved further, the LPDC went on appeal to the Supreme Court where Chief Williams argued that the work of the committee was, at that stage of the proceedings merely administrative against Fawehinmi. The appellant had also argued that the direction of the LPDC on the issue would not be conclusive since appeals lie to the Appeal Committee of the Body of Benchers and finally the Supreme Court ‘’whose decision is final ‘’. The lawyer-activist, however, submitted that the committee was a quasi-judicial tribunal whose decision could affect the rights of others, particularly their means of livelihood and therefore ought to be made to observe the principles of natural justice of fair hearing. Delivering the lead judgment, Justice Anthony Aniagolu said if the LPDC proceedings had not been arrested by an order nisi of the high court made on January 27, 1982, the Attorney General of the Federation would have been the accuser and the judge at the same time in this matter. According to the court, ‘’It would be recalled that the respondent was not given the chance by the Attorney General to answer the letter, Exhibit C, which brought the complaint about the respondent’s conduct to his notice. ‘’Up to this date, Gani has not stated whether or not he inserted the advertisement complained of in the ‘’West Africa ‘’ magazine. ‘’ The apex court said in the instant case, ‘’Chief Richard Akinjide, by reason of the way he handled the respondent’s matter, his behaviour seemed to portray him as having arrived at a conclusion on the guilt of the respondent, Gani, thus rendering him unfit to sit again, in judgment over the case, in the Legal Practitioners’ Disciplinary Committee.’’ Justice Aniagolu upheld the decision of the appellate court that the prohibition should be restricted to Akinjide and three others named on the committee. ‘’To hold that the disciplinary committee, qua, committee, is barred from sitting over Gani’s matter, is, in effect to make it impossible for the disciplinary committee to exercise any disciplinary authority over him in this matter.’’ The apex court said ‘’in the result, this appeal by the LPDC must fail and hereby fails. The judgment of the Court of Appeal is hereby affirmed and the order it made hereby confirmed.”
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World News
Syrian rebels hit back at Assad’s air power 48
“Only when Russia’s nations were united, were together, they achieved the best results in the development of their fatherland”VLADIMIR PUTIN
Meles funeral:Ethiopians, heads of state pay respect TOBORE OVUORIE
WITH AGENCY REPORTS
T
ens of thousands of Ethiopians and at least 15 heads of state turned out yesterday to pay their respects at the funeral of Meles Zenawi, the guerrilla leader turned economic reformer who died last month after more than two decades in power. The prime minister’s coffin, draped in the national flag and placed on a black carriage, moved slowly from his residence to the vast Meskel Square, in a
procession that included a military band and religious dignitaries. The coffin was set in front of the crowd waiting in the square, and the assembled priests, wearing the colorful robes of the country’s Orthodox Tewahedo Church, intoned solemn prayers. Mourners waved flags and some wept as they listened to speeches from their prime minister-designate, other African leaders and a senior U.S. official. Meles, who was due to step down in 2015 at the end
of his fourth term as prime minister, died at a hospital in Brussels aged 57. The authorities said he had died of an infection after receiving treatment for an undisclosed ailment. Silver-painted helicopters flew overhead in Meles’ honor, while members of elite army divisions stood guard, their red, blue and green berets marking the different units. Heavy rain poured down as the cortege, flanked by top military officers, moved in procession to the Holy
Trinity Cathedral for the funeral service and burial ceremony. “He was a visionary, a great leader,” said Abiy Yohannes, a university student who arrived at the square at dawn. “It is a great loss that we will feel for many years to come.” Meles seized power from Mengistu Haile Mariam’s military junta in 1991 after a 17-year civil war in the Horn of Africa country, and pushed through reforms that gave Ethiopia one of the strongest growth rates
in Africa. He took a strong stand against Islamist militancy in the region, a position that won praise from Western powers, while suppressing political opponents at home - which did not. Despite economic growth that barely fell below 8 percent a year between 2004 and 2011, Ethiopia remains one of the poorest countries on earth, and Meles’s opponents say his suppression of dissent held the country back.
Dos Santos lead in Angola’s elections
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ngola’s state media on yesterday declared the longruling Jose Eduardo dos Santos president-elect, even as vote tallying was unfinished and the opposition building fraud evidence. Foreign observers have given the vote a clean bill of health, saying it was credible and transparent. The government-mouthpiece Jornal de Angola ran a front-page headline declaring “Large victory for MPLA” alongside a fullpage picture of Dos Santos clapping. “The MPLA is the big winner in the 2012 general elections, and everything points to a victory of more than 75 percent of the ballots cast,” the paper said on its website. “The head of the party list, Jose Eduardo dos Santos, is the president-elect of the republic.” The latest count, with 85 percent of the polling stations reporting, gave the ruling People’s Movement for the Liberation of Angola (MPLA) nearly threequarters of the vote. This compares to the last election in 2008 when the party swept to victory with 81 percent of the ballots. The National Electoral
Commission has not given an indication of exactly when the official, final results would be released, but that announcement could still take days. Many of the ballots yet to be counted were in the capital Luanda, home to nearly a third of the country’s registered voters, where opposition parties were performing better. Angolans voted Friday for 220 members of parliament, with the leader of the winning party awarded a five-year term as president. That left Dos Santos all but certain to extend his nearly 33-year rule over Africa’s second-largest oil producer, despite a series of urban protests demanding that more of the nation’s wealth go towards helping the 55 percent of the population living in abject poverty.
WORLD BULLETIN
Mali Islamists take over town as chaos continues Islamist rebels in Mali have taken over Douentza, a town in the middle of the country. According to Ansar Dine military leader Omar Hamaha, who is a rebel leader and resident, two Islamist groups, MUJAO and the al Qaedalinked Ansar Dine, now control the formerly peaceful town. Douentza is in central Mali, about 110 miles (175 kilometers) from the key town of Sevare, which is in a buffer zone between the rebel-occupied north and the south. Chaos has rocked Mali since a military ruler overthrew the democratically elected president in March, shaking one of West Africa’s most stable democracies. Hamaha disclosed that Ansar Dine had allowed the Ganda Izo militia to set up base in the town so they could join Ansar Dine, but the Ganda Izo people had “betrayed” them.
Egypt retires 70 army generals
Zenawi’s remains at Meskel Square, in a procession that included a military band and religious dignitaries. PHOTOS: REUTERS
South Africa withdraws miners’ murder charges
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outh African prosecutors provisionally withdrew murder charges on Sunday against 270 miners who had been accused of killing 34 striking colleagues shot dead by police, but said they could be recharged when investigations are complete. Public anger had been mounting at the charges, made under an apartheid-
South African miners murder charges: Protesters singing as they held weapons. PHOTOS: AP
era law under which the miners were deemed to have had a “common purpose” in the murder of their co-workers. The police killing of the strikers last month at the Marikana mine, run by platinum producer Lonmin, was the worst such security incident since the end of white rule in 1994, and recalled scenes of state brutality from that era. “Final charges will only be made once all investigations have been completed. The murder charges against the current 270 suspects will be formally withdrawn provisionally in court,” Nomgcobo Jiba, the acting national director of prosecutions, said in a televised news conference. The miners will be released from prison starting
this week. In all, 44 people were killed in the wave of violence stemming from an illegal strike and union turf war. Top members of the ruling African National Congress had also expressed dismay at the charges as a public backlash gathered. “We are all surprised and confused by the National Prosecuting Authority’s legal strategy,” the ANC’s chief whip in parliament said on Friday. The ANC, whose members were gunned down by police at protest rallies and targeted with draconian laws before Nelson Mandela’s election as the country’s first black president, has been criticized for using similar tactics now that it is in power.
Seventy generals in the Egyptian armed forces are to be retired, the government has announced. The move comes weeks after President Mohammed Mursi replaced the defence minister and the chief of staff. However, six of the generals will keep their positions on the Supreme Council of the Armed Forces (Scaf). Some analysts say Mr Mursi is asserting his authority over the army. There has so far been little adverse reaction from the military establishment. Defence Minister Gen Abdul Fattah al-Sisi, who was appointed in President Mursi’s military reshuffle last month, announced the changes. In August, Mr Mursi had replaced Field Marshal Mohammed Hussein Tantawi with Gen Sisi as both armed forces chief and defence minister. Gen Tantawi’s number two, Gen Sami Enan, was also replaced. Both men were prominent members of Scaf, the military body that ran Egypt after the fall of President Hosni Mubarak after mass protests in February 2011.
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Syrian rebels hit back at Assad’s air power
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ebels seized an air defense facility and attacked a military airport in eastern Syria on Saturday, a monitoring group said, hitting back at an air force which President Bashar al-Assad is increasingly relying on to crush his opponents. The attacks in eastern oil-producing Deir alZor province follow rebel strikes against military airports in the Aleppo and Idlib areas, close to the border with Turkey. Assad, battling a 17-month-old uprising in which 20,000 people have been killed, has lost control of rural areas in northern, eastern and southern regions and has resorted to helicopter gunships and fighter jets to subdue his foes. The aerial bombard-
ment has driven fresh waves of refugees into neighboring countries, reviving Turkish calls for “safe zones” to be set up on Syrian territory - appeals ignored by a divided U.N. Security Council and by Western powers reluctant to commit the military forces needed to secure such zones. Rebels in Deir al-Zor overran an air defense building, taking at least 16 captives and seizing an unknown number of antiaircraft rockets, said Rami Abdulrahman of the British-based Syrian Observatory for Human Rights. Activist video posted on the internet showed the officers and soldiers captured by rebel fighters as well as an arsenal of rocket-propelled grenades and ammunition seized in the raid. Abdulrahman said rebels also attacked the Hamdan military airbase at Albu Kamal, close to Syria’s eastern border with Iraq, but did not succeed in breaking into it.
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
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Community Mirror “There is likely to be crisis in the build-up to the 2015 elections, as politicians would device more schemes to outdo one another.” NATIONAL SECURITY ADVISER, COL. SAMBO DASUKI
FRSC arrests traffic violators in Ondo …embarks on sensitisation programme
BIYI ADEGOROYE AKURE
T
he Federal Road Safety Corps, FRSC, in Ondo State has arrested and charged 407 traffic offenders for 432 offences, in the accidentprone Akure- Ilesha, Ondo-Ore and Ore-Benin roads . Sector Commander of the FRSC in the state, Mrs. Mary Wakawa, said the operation, code-named “Operation Rainstorm” was informed by the need to sensitise the motoring public in areas with preponderance of road traffic accidents, brought about by over speeding and dangerous driving, high vehicular traffic, poor road maintenance and other traffic violations, especially in the rainy season. The week-long operation inaugurated by the commission’s Head of Planning, Research and Statistics, Deputy Corps Marshal Adeyemi Omidiji, was informed by the fact that the state is one of the five zones that experiences high road traffic crashes in the country. Omidiji, who personally supervised the programme, said it was part of activities designed by the FRSC to reduce road accidents by 50 percent in all parts of the country. The event combined a mix of arrests of traffic violators and public enlightenment which stressed that it is in the interest of motorists to adopt appropriate driving culture and behavioral changes, in order to protect
their lives and that of other road users, and in so doing, minimize accidents and resultant loss of property in the economy. During the period, scores of road marshals fanned out in various parts of the state, checking and booking offenders for offences ranging from speed limit violation, vehicle license violation, wrongful overtaking, route violation, overloading, and assaulting marshals on duty. The commission also carried out enlightenment rallies at 20 motor parks, featured on 10 radio programmes and held a mobile court, where offenders were arraigned for traffic offences. Two fatal accidents were recorded at the period, resulting in the deaths of seven persons. Meanwhile, the command has commenced a standardisation programme, designed to sensitise school proprietors on standardisation of school buses, to ensure they are in good condition for the safety of school children. This was borne out of the prevailing over-crowding of school buses and their rickety condition in many parts of the state. According to Wakawa, the exercise which was carried out in conjunction with the Standard Organisation of Nigeria,SON, that provides guidelines for operation of school buses’ designed to ensure uniformity in their condition and road-worthiness to meet global best practices. “We held a sensitization workshop for all school bus operators,
FRSC sector commander, Mrs. May Wakawa welcoming government officials at a sentisation ceremony in Akure, Ondo State.
principals, proprietors and drivers alike, providing guidelines, categories and types of vehicles, specifications and their condition,” she said. Similarly, part of the package included three- module training for school bus’ drivers and their assistants, as well as welfare and insurance policy. The commission also ensured that school buses are clearly marked with liveries for easy identification. “We also looked at the air cleaning system of the vehicles, brakes, clutch, bumper, electrical system, fire extinguishers,
exhaust system, fuel tank, passenger capacity, shock absorbers and even colours of the vehicles,” she said. The sensitization programme led to the issuance of a School Bus Operation Permit, BOP, a document that certifies the technical and operational competence of an institution to operate school buses, taking cognizance of such requirements and condition of the vehicles. Chairman of the state association of private schools, Mr. J.A. Dada, commended the programme, stating that
it would further ensure safety on the road, especially as it affects school buses. He also called for dialogue with the government to ensure the success of the scheme in the state. The Commissioners of Transport, Otunba Nicholas, his counterpart in the Ministry of Education, Mr. Remi Omotubora, and Caretaker Chairman of Akure South, Mr. Jide Adejuyigbe, all commended the programme and promised to give it utmost support to bring back the safety culture in schools.
Herbal medicine, a goldmine for Nigeria –NANTMP boss MARCUS FATUNMOLE ABUJA
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he Chairman of National Association of Nigeria Traditional Medicine Practitioners, NANTMP, Prof. Omon Olaebhiele, has described Nigeria’s rich and diverse herbal resources, as goldmines with potentials to surpass the exploitation of crude oil. Olaebhiele, said this at the celebration of African Traditional Medicine Day in Abuja,
declaring that herbal practice had made significant impacts in the country; especially in the past decade following the United Nations approval of the annual celebration. According to him, countries such as China, India, Cuba, and Malaysia, generate huge revenues through the scientific development of herbs and provision of legal support that empowers the practitioners. He said the influx of these drugs into Nigeria, served as
eye opener for boosting the quest for development of traditional medicine in Nigeria. He said, “When African traditional medicine is well packaged, many people will look for it. This is because; the potentials are greater than crude oil, in terms of employment, provision and promotion of health and export potentials. What is needed is a passage of the ‘Traditional Medicine Bill’, now at the National Assembly into law. This will give the
practice legal right to enable people enjoy its benefits.” Olaebhiele stressed that the barrier to practice of traditional medicine in the country, was the failure to pass the Bill. According to him, if political office holders could consume imported herbal medicines, there was no justification for refusal of the National Assembly to pass it. In an address, Minister of Health, Prof. Onyebuchi
Chukwu, represented by the Director of Hospital Services, Dr. Wapada Balami, called for regularization of the practice through proper streamlining and proper identity of members. He also charged practitioners to be honest as to the functions of each drug sold to the public. The Minister, who frowned at the exaggeration of functions of herbal preparations, advised practitioners them to promptly address the trend.
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Cocktail
Monday, September 3, 2012
Oddities
Book returned to Chicago library after 78 years
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Chicago-area woman wanted to return an overdue copy of “The Picture of Dorian Gray” to the Chicago Public Library, but first she wanted to be sure she wouldn’t go to jail. That’s because the book, a rare limited edition of the Oscar Wilde novel, was checked out in 1934. Harlean Hoffman Vision found it in her late mother’s possessions, with a Chicago Public Library stamp. The library is conducting a rare three-week amnesty
program for overdue items, and Vision figured this was her chance to return the book, said Ruth Lednicer, the library’s marketing director. The books was returned Thursday. “She kept saying, ‘You’re not going to arrest me?’ and we said, ‘No, we’re so happy you brought it back’,” said Lednicer. Vision didn’t know the library caps late fines at $10 on books -- without the cap and the amnesty, total fines on “Dorian Gray” would have amounted to $6,000.
Hunter mistakes bulls for boar
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Danish hunter mistakenly believed he had shot two large wild boars when he had actually killed two Highland bulls, police in southern Sweden said. The mix-up occurred last week during a nighttime hunt near Hultsfred, The Local.dl reported. The hunt was sponsored by a local landowner who also happened to be the owner of the two dead bulls. Police were trying to
determine whether the Dane violated any Swedish hunting or firearms regulations. Christer Karlsson, a spokesman for the Kalmar County police, said the two bulls weighed 800 kilograms (1,760 pounds) each while even the heaviest wild boar typically weigh no more than 400 kilograms (440 pounds). “You think he would be able to see the difference,” Karlsson told the newspaper Expressen.
National Mirror www.nationalmirroronline.net
Triple amputee to cycle around Britain for 36 days
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ark Ormrod, a Royal Marine Commando who lost three limbs in an IED blast in Afghanistan on Christmas Eve 2007, is taking on a 3,000 mile challenge on his hand-
bike. The former commando is one of a team of war veterans and civilians who have begun a 3,000 mile journey around the British coastline to raise money for four charities.
The Tour De Forces team set off from Plymouth’s Royal Citadel on Saturday morning and hopes to complete the round trip in around 36 days. During the ride, the
group will be raising money for the Royal Marine Association, The Royal British Legion, and Semper FI Fund and the British Limbless Ex Service Men’s Association.
National Mirror www.nationalmirroronline.net
North
Monday, September 3, 2012
2015: Tackle insecurity not candidate’s endorsement, group tells IBB AZA MSUE KADUNA
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group known as Democracy Dividends Development Initiatives (DDDI), at the weekend, tasked former military President, General Ibrahim Babangida, over the endorsement of Jigawa State Governor, Alhaji Sule Lamido, for the 2015 presidential race. The group called on the former president to tackle the insecurity facing the north rather than heating up the polity. In a statement signed by DDDI Executive Director, Alhaji Suleiman Ahmed Akasawua and made available to National Mirror, the group said the action was capable of forcing other political office holders to commence campaign when democracy dividends have not been delivered to the electorate. General Babangida had last week endorsed Jigawa
State Governor, Alhaji Sule Lamido, for the 2015 presidential poll during the state’s anniversary celebration held in Dutse, the state capital. The group called on Nigerians to restrain themselves from making unguarded statements about 2015 general elections but should join
hands to eradicate poverty, hunger and disease, among other vices facing the country. The statement read in part: “The recent endorsement of Jigawa State Governor, Alhaji Sule Lamido, for the 2015 presidency by former President Ibrahim Babangida, is unfortunate as
it is capable of derailing the delivery of the much needed dividends of democracy to the Nigerian masses. “The endorsement has left many questions unanswered as to what happens to President Goodluck Jonathan, Vice-President Namadi Sambo, Senate President
David Mark and the House Speaker, Hon. Aminu Tambuwal, who are at present the highest political office holders in the country with every right to re-contest or contest the office of president come 2015, but are yet to declare their ambitions,” it said.
People displaced by flood at Damare Primary School in Girei Local Governmrnt Area, Adamawa State, after their houses were submerged, at the weekend. PHOTO: NAN
Financial indiscipline, bane of Nigeria’s development – ICAN WOLE ADEDEJI ILORIN
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xcessive spending at various levels of government and gross financial indiscipline are the bane of Nigeria’s progress, the Institute of Chartered Accountants of Nigeria (ICAN) has said. Fielding questions from journalists at the investiture of the executive of the Ilorin District of the Institute, Alhaji Salaudeen Ibrahim, who is the new chairman of the body, he said ICAN now have a duty to help arrest the trend. He said ICAN has been
telling every tier of government to appoint more accountants into political offices, to enshrine check and balances in public offices. He described ICAN as an important stakeholder in the nation’s economy, pointing out that such appointments would give professionals the opportunity to contribute meaningfully to the socio-economic development of the country from within. “The role of ICAN in national economy is integrity and to ensure that we put in our professional know-how to push the nation forward in terms of socio-economic develop-
ment, especially in areas of curbing fraud and excessive spending, which is the bane of the progress of this nation. “Since that’s our area, we want to apply that technicality and professionalism to ensure we move the nation forward,” he added. The ICAN chairman, who is also the Director (Finance and Accounts), Michael Imoudu National Institute for Labour Studies, (MINILS), Ilorin, said the association could achieve the feat, despite the fact that most of them are not in government, by offering professional advice to governments. “At the state level, we offer advice to the state gov-
Adamawa flood: Rights activist asks FG to sue Cameroun A ZA MSUE KADUNA
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resident of Civil Rights Congress of Nigeria (CRCN), Mallam Shehu Sani, has urged the Federal Government to commence legal actions against President Paul Biya of Cameroun, over the flood in Adamawa State which claimed lives and prop-
erty. In an electronic mail signed by CRCN president, Mallam Sani, at the weekend, he said the released of water from the dam in Cameroun, showed that the government of Paul Biya has no respect for human lives. Sani described the Cameroun government’s action as a calculated and an unprovoked act of
violence against the sovereignty and territorial integrity of Nigeria. The statement said: “The recent flood in Yola, Adamawa State as a result of the release of water from the Lagdo Dam by the Republic of Cameroun is a deliberate, cruel and inhuman act by the Government of Paul Biya that must not be left unattended.”
ernment and that’s one of the reasons we want more of our members in government. “At our places of work,
we make sure they imbibe integrity and transparency to allow the principle prevail in all that they do”, he said.
NDE plans to train 36, 000 youths in various skills PRISCILLA DENNIS MINNA
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he National Directorate of Employment (NDE) yesterday said it plans to train 1, 000 youths in each of the 36 states of the federation in about 54 skill acquisition centres of the directorate across the country this year. The NDE also announced that it has offered job opportunities to no fewer than 3, 600 university graduates this year across the nation. Director-General of the NDE, Mallam Abubakar Mohammed, made the disclosure at a workshop for vocational skill development in the 19 states of the north and the FCT, which was held in Minna, Niger State. He said it was in view of this that the voca-
tional skill development department organised the workshop to build the capacity of its officers to help in addressing the various challenges in the ever changing environment. According to him; “The NDE over the years has taken advantage of the potentials in the area of employability of labour to know that one of the major causes of unemployment is attributed to lack of functional and marketable skills on the part of the unemployed.” The director-general, who spoke through his Director of Small Scale Enterprises Department, Mr. Kunle Obayan, also said that the 3, 600 graduates were engaged under its Graduate Attachment Programme (GAP) with monthly stipends given them.
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Kwara LGs’ fund: ACN accuses govt of double speak
K
wara State chapter of the Action Congress of Nigeria (ACN) yesterday said the Peoples Democratic Party (PDP) led state government’s claim that it is not tampering with local councils’ fund cannot be trusted. The opposition party said its doubt flows from the inconsistent and contradictory figures the government is giving regarding the alleged shortfall in the allocations to the local councils. Kwara ACN Chairman, Kayode Olawepo, said in a statement in Ilorin that a government issuing conflicting figures on the same issue cannot be trusted, particularly when the council fund comes to it first before being disbursed to the respective local government councils. “The contradictory statements from the government make it impossible to trust its claim that it is not deducting the funds meant for councils,” Olawepo said. “We draw the attention of the public to the hot debate patriotic Kwarans have engaged Governor Abdulfattah Ahmed on twitter, a social media network, on this issue.” In his response to a poser by Kwara Whistleblower, who uses @kwhistleblower and others like @IamDiranEbo and @Kwarason, Ahmed said the shortfall in allocation to the councils between May, June and July is exactly N1.2bn. “But his Secretary to the State Government (SSG) and Information Commissioner told a press briefing on Wednesday that the shortfall is well over N1.25bn. Who do Kwarans believe between the governor and his men?”
Gov. Ahmed
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Business & Finance
Monday, September 3, 2011
National Mirror www.nationalmirroronline.net
YtD: Equities gain 14.6%, market cap hits N7.56trn JOHNSON OKANLAWON
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he investments in equities segment of the Nigerian Stock Exchange has improved significantly despite the Central Bank of Nigeria’s monetary tightening policy. The CBN had on July 24 increased banks’ cash reserve ratio to 12 per cent from eight per cent and also reduced the net foreign exchange open position to one per cent from three per cent. The bank hiked the monetary policy rate to 12.9 per cent from 12 per cent in January, this year. As at August 31, the All Share Index rose by 3,020.19 points or 14.6 per cent to close at 23,750.82 points, from 20,730.63 points at which it opened the year. Market capitalisation appreciated by N1.027trn to close at N7.56trn on Friday, August 31, from N6.53trn at which it opened the year. Investigation by National Mirror showed that gains recorded mostly in the consumer goods sector of the equities improved the performance. The consumer goods index increased by 243.1 per cent to close at 2,022.83 points, from 589.60
L-R: Group Head, Corporate Development, Sterling Bank Plc., Mr. Shina Atilola; Executive Director Lagos, Mr. Devendra Puri; winner of Sterling Bank Saver’s Promo, Princess Ayodele Dada; Manager, National Lottery Regulatory Commission, Mr. Ita Calix and Head Direct Sales Force, Sterling Bank Plc, Mr. John Okon, at the presentation of cheque to the winner in Lagos, at the weekend.
points from the beginning of the year, followed by the banking index with 34.4 per cent to close at 368.60 points, from 274.26 points. The NSE-30 index, which tracked the performance of blue chips stocks, rose by 20.6 per cent to close at 1,113.67 points, from 923.77 points. But the insurance and oil and indices shed 13.6 per cent and 25.5 per cent in the review period to
Expert faults $25bn FDI in telecoms sector KUNLE A ZEEZ
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telecoms analyst and Chairman, Logica Media Group, Otunba Biodun Ajiboye, has said that the current $25bn Foreign Direct Investment (FDI), should have grown higher if greater regulatory attention had been paid to the management of the sector’s growth in the past 11 years. Ajiboye, while reacting to the current FDI in the sector, which was recently announced by the Executive Vice Chairman of the Nigerian Communications Commission, Dr. Eugene Juwah, at the weekend, said though the current figure could be seen as a milestone, Nigerian market had the potential to attract more than $25bn as FDI in the past decade. “Nigeria’s telecoms industry can be worth $50bn in less than a year or in a year and a half if well regulated. I mean the investment in the telecoms industry can even move beyond that $25bn if the industry is monitored and guarded properly,” he said. The analyst pointed out that there were a lot of leakages in the industry which, he said, nobody was talking about. “There are so many leakages. An official of NCC once said that
he was sure that the level of leakages in the industry required some regulatory intervention and interest, and he made a lot of instances such as calls that are terminated offshore. Into whose account does it go? Who monitors those calls? Those are extra-investment issues,” he said. He, however, called on the Federal Government to intensify efforts at tackling the various challenges such as multiple taxations, increased theft of telecoms equipment, frequent cable cuts, vandalism and the Right of Way issues, adding that not being proactive in finding solutions to the existing industry challenges is capable of hindering FDI into the sector. “Addressing these challenges will attract more investors to continue to see Nigeria as an investment destination where they can put their money. Conducive environment is needed to drive further growth in the sector in general,” he said. National Mirror gathered that the industry’s FDI, which stood at $18bn in 2009 grew significantly to reach $25bn currently. The $7bn FDI increase represents about 38.8 per cent growth in the total investment inflows into the country telecoms sector.
close at 124.08 points and 164.05 points, from 143.54 points and 220.11 points at which it opened the year respectively. Analysts attributed the improvements in equities to good corporate actions of banking stocks in the half year. The Chief Executive Officer of Lambert Securities Limited, Mr. David Adonri, said the prices of banking stocks, foods and
beverages appreciated significantly during the period under review, which to him, led to the increase in market capitalisation. He said also that the foreign investors have taken advantage of the relatively low prices of stocks, thereby increasing the value of equities. Adonri added that the stable value of naira has positively affected the Nigerian stock mar-
ket. Meanwhile, Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane had predicted in July this year that the increase in the banks’ cash reserve ratio and the reduction of net foreign exchange open position to 1.0 per cent from 3.0 per cent may adversely impact stock market sentiment. According to him, banking stocks may face sell pressure in the short run following the tightening of monetary policy rate by the CBN. He noted that long term expectations of stock market returns remain unchanged, but initial impact is unpredictable. Rewane, however, advised investors to take position in good companies and hold them for a long term, noting that timing the market may be easy in theory, but it is difficult to practice. He urged investors to select winners in different sectors and create a diversified portfolio, urging people to “only invest in wide moats with strong cash flow.” He maintained that the further tightening will affect banks’ loan growth and the cost of funds.
BA faults planned cut in aircraft age by FG OLUSEGUN KOIKI LONDON
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ritish Airways has expressed reservations about the Federal Government’s plans to reduce the age limit of aircraft operating in Nigeria from 22 to 15 years, saying that age of aircraft does not determine its safety level. The airline also said that the insecurity in some parts of Nigeria caused by the Boko Haram insurgents led to the relocation of its crew from Abuja to Lagos. The Regional Commercial Manager, Africa, BA, Mr. Ian Petrie, stated this in London at the
weekend during an interaction with some aviation journalists from Nigeria. The airline said rather than focus on the age of operating aircraft in the country, government should focus more attention on proper maintenance of the aircraft and ensures that their checks are carried out according to the manufacturers’ recommendations. Petrie insisted that it is not the age of aircraft that makes it unsafe, stressing that maintenance of aeroplanes go a long way in determining its safety level. He agreed that the older an aircraft gets, the more expensive it is to maintain them.
He, however, explained that if the government eventually implements the law, the airline would not be affected as its aircraft flying into the country are relatively young. He said, “The question can be answered in two ways. It is not the age of an aircraft that makes it unsafe. It is the maintenance of the aeroplane that makes it safe or not and BA’s maintenances are top class. Our aeroplanes are maintained to the highest standards, we have the checks of different categories coming up all the time to the D-Check, which comes out as new.
Stakeholders decry plan to ban used auto parts import STANLEY IHEDIGBO
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igerians have not stopped to express their displeasure over plan by the Federal Government to ban importation of fairly used auto spare parts in the country. According to them, such plan is another way bringing hardship to them. Stakeholders, including industrialists and importers that spoke with National Mirror, cautioned Federal Government about the policy, pointing out that, it might lead to problems since local auto industries lack the capacity to cope with the needs of Nigerians.
Reacting on the plan, President of the Nigeria Association Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Herbert Ajayi, said the plan to ban importation of fairly used auto spare parts should be considered before the move. According to him, such plans can create a bad economic for the country’s development, saying Nigeria is not a vehicle manufacturing nation yet. He advised that automotive manufacturers be encouraged through loans, patronage and incentive in the area of importation of raw materials and others things that will really boost the industry. The Executive Secretary of
the Nigeria Association Road Transport Owners (NARTO), Mr. Emmanuel Gowon, added that he would like the country to get to the stage where it will not ban used spare parts but used vehicles, like some countries did. According to him, the development should be allowed to emerge naturally when there are alternatives where many companies that are manufacturing those spare parts in affordable prices and good quality are on ground. By allowing alternatives, Gowon added that government will be justified to any decision it want to take in respect of the fairly used vehicles spare parts and other things.
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
53
Sport
Nothing feels like being successful inn one’s set target. That is exactly what I feel at the moment
Kalu Uche nets hat-trick, Musa, Aluko, Promise also on target
- JAMAICAN ATHLETE, USAIN BOLT
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Businessman rewards Falconets with IPAD
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Nigerian businessman based in Tokyo, Mr. Stanley Okafor, has donated a Samsung Galaxy Tab and IPAD to each member of the national U-20 women’s team, the Falconets for their achievements so far in the ongoing FIFA U-20 Women’s World Cup in Japan. Falconets’ Media Officer, Ejiro Femi-Babafemi, in an online statement monitored by NAN said the donation was for the Falconets performance at the competition. The Nigerian girls on August 30 defeated Mexico 1-0 to advance to the semi-finals of the competition and will meet their United States opponents tomorrow in one of the last four matches. The statement said that each of the 21 players and 10 officials received the mobile device at a colourful ceremony held at the team’s Hilton Hotel in Tokyo, Japan. Okafor, who said that he had watched the Falconets matches from the preliminaries, had earlier donated $800 to the team, prior to their last group game against Italy. “It’s my widow’s mite of saying well done. You have made us proud. This is the best national team as far as I am concerned, and I am delighted to be identified with you,” Okafor said.
Rwanda tips Eaglets for AYC qualification
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unior Wasps of Rwanda coach, Richard Tardy, has tipped Nigeria’s U-17 team to qualify for the 2013 U-17 Africa Youth Championship (AYC) in Morocco. Eaglets outscored the East African side 5-0 in Friday’s friendly match at the UJ Esuene Stadium, Calabar. Tardy said he was impressed with the Nigerian team but promised tougher game in yesterday’s rematch of the friendly game. “The Nigerians are good team and we can see that their players are tactically sound and without doubt we lost to a good team,” said the Frenchman. “Playing against the Nigerian side at this stage of our preparation is a real challenge, this is the first real match since we started our programme about one month ago. I wish Nigeria well in their game against Niger Republic next week,” he added.
The statement added that the businessman, who has spent over 22 years in Tokyo, also assured the team of more goodies if they eventually lifted the trophy.
Agents scuttle Reuben’s Gent move
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igeria star, Gabriel Reuben, has lost out on a lucrative deal with top Belgian club, KAA Gent, after a rival agent tried to hijack it. Reuben, who had previously undergone trials overseas, would have signed a three-year contract last month that would have paid him a minimum of 10,000 Euros a month after tax as well signing-on fee of about 80,000 Euros. FIFA agent, Tunde Fabiyi, of Universal Soccer Consultants told MTNFootball.com that Gent refused to do business with another Nigerian agent who claimed to represent the player just when he was to have jetted out of the country for Belgium. “The deal with Gent for Reuben is off. The club refused to deal with any other agent but me as regards the player because I and my Belgian partner were the ones who proposed him to them and who they were dealing with right up to when the player was to be granted an entry visa,” Fabiyi said. “Kano Pillars also sanctioned my deal and everything was done with the player’s authorisation as well as that of his club. Unfortunately, just when he was to get his visa, another agent who is based in London came around to claim he represents the player,” Fabiyi added. The 22-year-old Pillars star is one of several Nigerian players tipped to move to Europe after working their way into the Super Eagles in the last eight months.
Reuben
AFCON qualifier: Keshi drops Idris, eight others Papa apa Idris
EVEREST ONYEWUCHI
S
ix days to the first leg final Africa Cup of Nations qualifying match against Liberia’s Lone Star in Monrovia next Saturday, Super Eagles’ coach, Stephen Keshi, at the weekend sent nine home-based players home from the team’s camp. National Mirror was informed yesterday by the Super Eagles Media Officer, Ben Alaiya, that Kano Pillars central defender, Papa Idris, is top among the players not found suitable for the ‘Battle of Monrovia.’ The Pillars’ defender, who has been battling a knee injury for sometimes now was sent home with Heartland FC duo of Benjamin Francis and Kabiru Umar; Saviour Fidelis of Taraba FC, Rising Stars’ Henry Ezekiel, Christian Ofili of ABS FC, Chibuzor Onyekwelu of Fame FC, Femi Ajayi of Crown FC and Rangers International’s Ogochukwu Ugonna. According to Alaiya, the players have since left the Bolton White Apartment Abuja camp of the Super Eagles as the 10 Europebased players invited were as at press time, expected to start arriving camp. Before the decamped nine players left for their various clubs, Keshi told them not to be dejected and assured them that they would soon be recalled to camp when the team returned from Liberia.
“Just ensure that all you learnt here is not wasted and continue to feature regularly for your clubsides, so that we will have reasons to recall you. Many of those who are here with us now have been dropped and recalled several times,” the Big Boss charged them. Earlier on Saturday, the Eagles defeated highly impressive Abuja Football College 4-1, with Keshi describing the amateur club as one of the best sides his team had played against of recent. The entertaining warm-up game played in the rains at the Abuja FIFA Goal Project saw the Eagles forced to some desperate defending in the early part of the encounter, as Theophilus Solomon, Mark Tanko. Collins Jamilu and Philip Ikeocha gave the national team food for thought with their organisational play and precision passes. Sunday Mba, however brought experience to bear, when he raced clear to tap home the first goal after Ajayi and Sani Sanusi had ran the Academy side’s defence ragged. This was in the 17th minute and it was the only goal of the half. Croatian coach of the team, Bozidar Matjevic, said the Eagles did not play well in the first half, but upped their game in the second with flawless passes. “If they continue like that they can defeat any team in the world, but they have to start early to take their chances,” Matjevic said.
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Sports
Monday, September 3, 2012
National Mirror www.nationalmirroronline.net
Kalu Uche nets hat-trick, Musa, Aluko, Promise also on target IKENWA NNABUOGOR
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uper Eagles’ striker Osaze Odemwingie returned to the West Brom team after missing last weekend’s 1-1 road trip at Spurs, as the Baggies continued their fine run this season, beating Everton 2-0 at home, yesterday. Odemwingie, who will be missing in the Eagles’ train to Liberia this weekend, was introduced in the 58th minute for Scot Graham Dorrans as scores stood at 0-0. It was the former Lokomotiv Moscow’s sublime pass onto the path of striking partner Shane Long that opened scoring for the home team in the 65th minute. West Brom would finish off Everton with just eight minutes left on the clock when Northern Ireland international Gareth McAuley put the icing on the cake. ‘Osaz’ has played in two of the Baggies’ games thus far this season.
Isaac Promise
Anichebe
Another Nigerian Victor Anichebe was also in action in the thrilling encounter but was on the losing side, Everton. Playing his first game this season, the former Kalu Uche Super Eagles striker was thrown into the fray in the 73rd minute as a substitute for former England international Phil Neville. Anichebe had been down with groin and later pelvis complaint that sidelined him for three months. His goal in the Trotters’ 5-0 demolition of Leyton Orient in the League Cup Wednesday last week set the tone for his league debut this season. He had also earlier earned bench selection. Still in England, true to his earlier promise, former youth international Sone Aluko was back on the scoring sheet for his nPower Championship side, Hull City as he opened scoring in Hull City’s 3-1 win over relegated Bolton Wanderers at home on Saturday. The former Aberdeen striker netted in the 29th minute to cancel Chris Eagles’s 17th minute opener for the visitors before Faye and Quinn ensured victory Ahmed Musa for the hosts in the second half. Aluko was pulled out in the 68th minute as he has Standard Liege, who capitulated 4-2 at played all the four games for his new team home to league leaders Club Brugge. The former 36 Lions striker, who had played full this season. time in two consecutive previous games where he netted all his three goals thus far, Olofinjana His compatriot and forgotten Eagles was pulled out in the 75th minute. Ezekiel, midfielder Seyi Olofinjana announced his who joined the Belgian champions on loan comeback with solid 90 minute outing in last season, played in the last seven games the Hull City winner. Olofinjana, who had and scored once as Standard Liege finished been out injured for close to eight months, fourth. That was his third game this season. Still in Belgium, Derrick Ogbu was on was only playing his first game for his start to finish for OH Leuven as they pulled team. He had earlier been on the bench on hosts Lierse to a 1-1 on Saturday. The little three occasions. He only managed to play known Nigerian, who stormed the Belgian three times last season. League last season and netted 10 goals, was In France, Eagles striker John Utaka still not on the score sheet for his club this was, as usual, for 90 minutes for defending season, as the added minute equalizer by champions Montpellier as they disgraced 18-year old Camerounian starlet Christian Sochaux 3-1 on the road. Utaka was not on Pouga helped salvage a point for the visithe score sheet as he still searches for his tors. Ogbu has however, played in all six first goal this season but was cautioned in games for the club that barely survived the 75th minute. The former Rennes super relegation last season , starting in all the star has played in all Montpellier’s four six games and getting substituted in three games thus far this season. games. In Belgium, Nigerian wonder kid Imoh Michael Uchebo is still in search of his Ezekiel failed to get on the scoresheet for
KALU UCHE EMERGING THE MOST PROMINENT PLAYER, POWERING HOME A HAT TRICK FOR HIS NEWLY-PRO-
MOTED TEAM KASIMPASA first goal since arriving Cercle Brugge in the summer transfer as they were hammered 2-0 by the whipping team, newlypromoted Beveren-Waasland on Saturday. The big central striker was rested in the 68th minute as Cercle Brugge are still rooted at the foot of the table. The former VVV Venlo front man has thus far played in all six games for his new club. In Germany, Werder Bremen’s newest acquisition Joseph Akpala was handed his debut in his side’s 2-0 victory over Hamburg on Saturday. Akpala, who was unveiled last week played in the last four minutes. He is expected to belt more appearances for his new club this season. In Russia, Super Eagles flying winger Ahmed Musa signed off in style as he arrives the Eagles Abuja camp, with the lone strike in CSKA Moscow’s 1-0 win at Krasnodar on Saturday. The former Kano Pillars star made hay in the 60th minute latching on to a pass from Vasilii Berezutski for the only goal of the game. After making a number of assists this season, Musa’s goal finally in the important win for the title contenders as they shot to third spot on the log. He has thus far played five games and gone into the referees’ book once. In the Netherlands, former junior international, Uche Nwofor, was on the losing side VVV Venlo, who fell 1-0 at Twente
yesterday. The former Rangers striker was exchanged with Dutch super star Dennis Bergkamp’s nephew, Roland, in the 68th minute. Nwofor, who scored five goals in his debut season last term, is yet to register his name on the score sheet this season. Former school boy international Kenneth Omeruo continued his sterling performance in the rear for ADO Den Haag but ended up on the losing side as they were stung 1-0 by visiting Groningen. Omeruo, on loan from Chelsea, was on for 90 minutes in the thrilling encounter that had 10 000 spectators on the stands. Omeruo has tus far played in all four games and got yellwcarded in two of those appearances.
Yobo
In Turkey, it was a battle of two Nigerians, pitting Eagles captain Joseph Yobo and 10-cap Super Eagles striker Michael Eneramo as Sivasspor held Fenerbahce to a goaless draw at home on Sunday. Both players were on for 90 minutes. Eneramo will have to wait for another day to add to his twogoal tally as he fired blanks yesterday as the two clubs shared the spoils. There was still plenty of Nigerian presence in the Turkish top flight last weekend with Kalu Uche emerging the most prominent player, powering home a hat trick for his newly-promoted team Kasimpasa, demolishing fellow newly-promoted Elazıgspor 3-0 before their disgraced home fans. Uche opened his floodgate in the 31st minute and added another from the spot in the 56th minute. He would strike again with seven minutes left on the clock, to hand his team their second victory that shot them to the top of the log with six points. The former Almeria midfielder has played in all three games thus far for his new team.
Promise
Still in Turkey, former youth international Isaac Promise opened his goal account for his new team Antayalspor, scoring the only goal in their 1-0 road win over Istanbul BB on Saturday. The former Manisaspor striker, playing for his fourth Turkish club, netted the winner in the 10th minute and proved enough for his team, who catapulted themselves to second spot on the log. He has also played all the three games thus far for his new team.
EPL Results Liverpool
0-2
Arsenal
Newcastle
1-1
Aston Villa
Southampton
2-3
Man Utd
National Mirror www.nationalmirroronline.net
Sport
Monday, September 3, 2012
55
Medallists hail minister
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Lucy Ejike greeting fans at the arena after winning silver yesterday
Ejike captures silver, Taiwo crashes F our-time Paralympian, Lucy Ejike, yesterday finished second in the women’s-56kg powerlifting event as the ongoing games entered Day 4 in London. This medal takes her tally to four in the Paralympics as she won silver when she made her debut at the Sydney Games in 2000. Thereafter she won gold in Athens four years later and added another in Beijing in 2008. The veteran was regarded as the woman to beat once more but had to settle for silver after her second and third attempts were disallowed. Her first lift of 135kg secured the second spot for her while Egypt’s Fatma Omar claimed gold with a world and paralympic record of 143kg. She lifted 132kg in her first attempt, 137 and 142 in her second and third attempts respectively. Ozlem Becerikli of Turkey came third with 118kg. Nigeria’s reprsentative in the men’s -67.50kg, Totulope Taiwo, failed to make it to the podium as he finished fifth in his event which was won by Lei Liu of China. Meanwhile, Nigeria tops the powerlifting table with four gold and four silver medals which incidentally account for the country’s total number of medals at the ongoing Paralympic games. Yakubu Adesokan (-48kg), Ivory Nwokorie (-44kg), Esther Oyema (-48kg) and Joy Onaolapo (-52kg) captured gold while Ikechukwu Obichukwu (-52kg), Anthony Ulonnam (-56kg), Chinonso Nnajiofor (-60kg)
and Ejike are silver medalists, even as more lifters are yet to compete in various categories. Nigeria currently occupies eighth position on the medal table. China is first with 27 gold, 18 silver and 24 bronze medals. Host, Great Britain is second with 13 gold, 22 silver and 12 bronze medals while Australia is third with 13 gold, eight silver and 15 bronze medals.
eam Nigeria medallists at the ongoing London 2012 Paralympics Games have attributed their success to the support by the Sports Minister, Mallam Bolaji Abdullahi. The Nigerian representatives have excelled since the games started last week, with Powerlifter Yakubu Adesokan winning the first gold by breaking the world record in the men’s 48kg category by lifting 180kg, which is almost four times his body weight. Esther Oyema and Joy Onaolapo also broke the world records en route to winning the gold in Power lifting in the women’s category while Ivorie Nwokorie won a gold medal in the 44kg as Ikechukwu Onwuchkwu won silver in the men’s 52kg category after lifting 175kg. Adesokan said Abdullahi had ensured adequate preparation for the lifters with the camping in Dubai and South Korea prior to the games. “The camping really exposed us and I think the National Sports Commission also deserves praise after the staff travelled.” Oyema, who also thanked the minister, said the nation’s investment in the team had yielded dividend. “The minister is our number one supporter boosting our morale and encouraging us, but we will be happy if he could organize local competitions for us rather than for us to just participate in Commonwealth, All Africa Games and the Olympics,” Oyema said.
Pistorius starts with a record
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outh Africa’s Oscar Pistorius on Saturday began the defense of his three sprint titles with a bang, breaking the world record in the T44 200m, as Irish runner, Jason Smyth, became the fastest Paralympian in history over 100m. Pistorius, who last month became the first doubleamputee to compete in the Olympics, stormed to victory in his heat at the Olympic Stadium in Stratford, clocking a new best of 21.30 seconds. The 25-year-old said he was happy with the time and the reception from the 80,000-strong crowd but again played down expectations that he would complete the sprint clean-sweep. “I’ve done a world record tonight, so we’ll see what happens, but the 100m isn’t really my event,” he said. Pistorius, nicknamed the “Blade Runner” because of his carbon fiber prostheses,
Yusuf, Adewale crash in tennis
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igeria’s flagbearers in wheelchair tennis at the ongoing Paralympic Games, Wasiu Yusuff and Alex Adewale were sent packing from the competition following their doubles defeat at the Eaton Manor where the event took place. The Spanish duo of Daniel Caverzaschi and Francesc Tur overpowered the Nigerians 6-1, 4-6, 6-4 in the first round of the men’s doubles. This result has sealed Nigeria’s exit from the competition as Yusuf lost his second round singles game against Maikel Scheffers of the Netherlands earlier in the day. Yusuf, who is currently unranked didn’t stand a chance as he was defeated in straight sets, 6-2, 6-1 by his opponent who is ranked No.3 in the world. Adewale failed to make it beyond the first round either in his debut at the paralympics. The
duo are set to join their counterparts who featured in table tennis as they were the first to crash out from the games. With this development, Nigeria is left to compete in only two events which are powerlifting and athletics. Team captain, Patricia Nnaji, also failed to make it to the podium as she finished a distant 11th in the F-55 shotput category. The veteran, who won a gold medal at the 2007 All-Africa Games made her first appearance at the Paralypics in 1992 in Barcelona. Nigeria is yet to win a medal in the athletics event which was responsible for three out the the nine medals won in Beijing four years ago. Unyime Uwak who won a silver medal in the T-46 200m during the Paralympic qualifiers got to the final of her event but finished sixth with 26.65 on Saturday.
Oscar Pistorius
was to face Beijing silver medalist, Jim Bob Bizzell, as well as his long-standing rival Jerome Singleton, both of the US. However, Irish sprinter Jason Smyth gave a stunning performance in the T13 100m, streaking to victory in 10.46sec, breaking the previous world best of 10.54sec that he set in qualifying on Friday night. The 25-year-old, who is visually impaired and like Pistorius also competes in nondisabled races, trains with US sprint star Tyson Gay in Florida and has said it is possible to have a Paralympian run under 10 seconds in the straight sprint. He has run 10.22sec — 0.27 seconds quicker than the non-disabled women’s 100m record set by Florence Griffith-Joyner in 1988 — although his time has not been recognized by the International Paralympic Committee (IPC).
WORLD RECORD
Longest-running Man vs Horse race
Vol. 02 No. 439
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The fears and certainties of 2015
or many people these are clearly uncertain times, it is the same everywhere you look in the world. In Nigeria, however, uncertainty is the norm, it is neither a temporary nor a new phenomenon. Generally, most people living in Nigeria and those dealing with Nigeria are never certain of what to expect; they are rarely sure of what might pop up tomorrow. A new law or directive might be announced, that same law might almost immediately be in turn amended. Your flight may be delayed or the road blocked without any previous announcement or warning. Ordinary people live by the day and just hope for the best or at least a better tomorrow. Yet in the middle of all these uncertainties, Nigerian politicians, and public office holders in general, are in a world
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Monday, September 3, 2012
The longest running Man vs Horse race is the Man vs Horse Marathon, which has been held annually since 1980 in Llanwrtyd Wells, Wales. The race takes place over 22 miles where runners compete against riders on horseback.
ormer Zimbabwe international, Benjani Mwaruwari, will call time on his football career if he fails to secure a contract with a South African Premier League club by end of this month. Mwaruwari, who was released by Portsmouth at the end of last season, has been training with Jomo Cosmos in South Africa.
NOTES FROM CAMBRIDGE Anthony A. Kila
anthonykila@mail.com of their own. They, of course, have more information and even more power to influence things; sadly though, they do not use such information and power to stabilize the polity. Rather they tend to be the cause of most of the uncertainties and instability their people are forced to cope with. These politicians and public office holders make laws and issue directives and then reverse or modify them; roads are blocked because of them and rules bent to please them. As usual, the people are in the dark and are hoping. They are hoping that the sitting president fulfills his promise to transform the country; in the meantime time, most people are frustrated and disappointed at the pace and mode of governance. More precisely, Nigerians are unhappy that to date there is little or nothing they can point to as the achievement of this administration. One cannot blame them. President Goodluck Jonathan has been at the helm of the affairs of the country for more than two and half years - I am counting from his term as acting president and then as president. Contrary to the nonsense pro Jonathan are trying to make us believe, two and half years is quite a long time in politics by any measure. Even in Nigeria, there are examples and lessons to be learnt from our recent history. A comparative analysis of what the then Governor Lateef Jakande and
THOSE OUTSIDE THE PDP ARE TALKING ABOUT ALLIANCE AND THOSE INSIDE IT ARE TALKING OF FORMING A NEW PARTY his commissioners did in one year in Lagos State and what President Jonathan and his ministers have done in two and half years will be quite revealing about how long two and half years can be in politics. More precisely, Nigerians are unhappy because the few times they have felt the presence of this government it is to learn about the announcement of measures that cause them pain and embarrassment. One cannot blame them. They ended 2011 with questionable nominations and appointments and started the new year with the removal of oil subsidy, topped it with increase in electricity tariff, and along the way, they are treated to news and rumors of corruption and violence. In the meantime, Mr. President is reported to have promised to surprise all by 2013 when the contents of his programme start to unfold. At least we now know that even Dr. Jonathan knows that all is not well in the country, to put it mildly. For our sakes we wish him well.
If nothing dramatic like a coup d’état, sudden death or a civil war happens, 2015 will be the year of reckoning for all those in power. That is when they will get a clear and resolute verdict of their stewardship from the people they have governed for four years. There are only two possible verdicts, but objectively, we don’t know what that verdict will be. Everything is possible. The President might still perform and in that case, he and his party will deserve another term; the president may fail and in that case he, his party and all those that work with him will have to make way for others. For the people to reach a meaningful verdict, however, they need some certainties that can come only from the opposition and with the help of the press. And therein lies the rub; for whilst it is clear that the government of the day is considered by most to be underperforming, the opposition does not seem to be promising any certainty of a better future either. What we know about 2015 today is that the opposition feels that this President should not be allowed to return to power. Whilst we know why commentators and analysts are not happy with the government, all we know about the opposition is that they want power in 2015. To this end, those outside the PDP are talking about alliance and those inside it are talking of forming a new party. Let us be clear: These are all legitimate maneuvers, but these politicians can and must do a lot more than just maneuvers if they really want to contribute to the progress of the country. They need to provide some certainty to the people of Nigeria; we need clear and measurable commitments. They can and need to start by telling us in clear terms what they do not like about the current system and what they will do differently. Let them come out and tell us where they stand on federalism, on state police, on the role of the CBN, implementation of budgets etc.
Sport Extra
Mwaruwari weighs time call on career But the 34-year-old says he has no intention to sign for Cosmos, the first foreign club he played for early in his career. The former Auxerre, Manchester City, Sunderland and Blackburn Rovers striker has
also ruled out a run-out in Zimbabwe’s Premier League. “I’m ready to retire from football if I don’t manage to secure a contract with a Premier League team here in South Africa,” Mwaruwari said yesterday.
“The only team I have talked with is Bidvest Wits, but the talks did not amount to anything tangible.” The dreadlocked forward scored 29 goals for Zimbabwe in 44 appearances before retiring from internaAminu Maigari tional football in October 2010. NFF President, Benjani Mwaruwari
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