Monday, august 3, 2015 new 3 by GLOBAL MEDIA MIRROR LIMITED

Nigeria’s unemployment rate rises to 8.2% in Q2 –NBS TOLA AKINMUTIMI

ational Bureau of Statistics, NBS, yesterday said the country’s unemployment

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Vol. 5 N0. 1169

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PDP decries lack of economic team by Buhari’s P.8 govt

ployment rate since Q3, 2014. It also stated that the economically active population or working age, that is, persons within ages 15, 64,

rate rose to 8.2 per cent in the second quarter (Q2) of this year, up from 7.5 per cent rate recorded in the preceding quarter. This represents a third consecutive rise in unem-

Monday, August 3, 2015

THE

CONTINUED ON PAGE 5>>

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National Mirror Online

FG dissolves S Courts-Martial ...may pardon convicted soldiers

INUSA NDAHI AND UBONG UKPONG

NAF, troops, repel insurgents attack on Borno village, kill 50

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uccour may have come the way of some soldiers currently undergoing trial for various offences, as new Chief of Staff, Maj. Gen. Tukur Buratai has ordered the dissolution of General CourtsMatial in the country. Some soldiers have been convicted and sentenced to death, while others are undergoing trial for various

offences, including conspiracy to commit mutiny, and mutiny, among others. A human rights lawyer, Mr. Femi Falana, who disclosed the dissolution yesterday, commended the Federal Government and military authorities for the decision to discontinue with the trial. Falana represents most of the accused soldiers. He said: “I have confirmed from the Chief of Army Staff that the courtsCONTINUED ON PAGE 2>>

Ooni: Residents disagree over remains' arrival

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620 Nigerian refugees repatriated from Cameroun

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L-R: Secretary to the Lagos State Government, Mr. Tunji Bello; Acting U.S Consul General in Lagos, Ms. Dehab Ghebreab; Women Leader, South West All Progressives Congress (APC), Mrs. Kemi Nelson; Head of Delegation/member of U.S Congress, Mr. Darrelle Issa; member of U.S Congress, Carolyn Manoney; Lagos State Governor Akinwunmi Ambode; other members of U.S Congress, Sheila Jackson Lee; Blake Farenthold and Chairman, Lagos State All Progressives Congress (APC), Otunba Henry Ajomale, during U.S Congress delegates' visit to the governor at Lagos House, Marina, yesterday.

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News

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

FG dissolves Courts-Martial CONTINUED FROM PAGE 1

martial have been disbanded while the cases of convicted soldiers would be reviewed. “A committee has already been set up to inquire into the cases of dismissed soldiers. As counsel for some of the soldiers, I wish to thank the Federal Government and the military authorities for putting an end to the desperate move of Marshal Felix Badeh, former CDS and co to execute soldiers who refused to commit suicide. “Between September and December last year, two courts-martial which sat in Abuja, convicted and sentenced 70 soldiers to death. “The soldiers, who were charged with mutiny, had complained of lack of equipment to fight and the failure of the military authorities to pay their operational allowances. “The allegation of the diversion of the troops’ allowances was confirmed by the military authorities who removed the General Officer Commanding the 7th Infantry Division of the Nigerian Army based in Maiduguri, Borno State at the material time. “Following the embarrassment which the conviction of the 70 soldiers attracted locally and internationally, the immediate past Chief of Army Staff, General Kenneth Minimah, refused to confirm the findings of both courts-martial contrary to the provision of section 22 of the Armed Forces Act. “Thus, by refusing to confirm the findings, General Minimah deliberately denied the convicted soldiers the right to challenge their conviction at the Court of Appeal in line with the provisions of the Constitution and the Armed Forces Act.” Army authorities however confirmed that it was reviewing some cases of convicted soldiers, but dismissed reports making the rounds that the army command has recalled all dismissed and deserter soldiers. Acting Director of Army Public Relations, Col. Sani Usman, made the clarification in a statement issued in Abuja yesterday. He said the Nigerian Army was only reviewing

some recent disciplinary cases and was yet to arrive at any decision to recall any soldier. “The attention of the Nigerian Army has been drawn to a correspondence making the rounds in some media regarding an administrative procedure to review some recent disciplinary cases in the Nigerian Army. “For the avoidance of doubt, it should be noted that the Nigerian Army is reviewing all recent disciplinary cases due to the wave of litigations and petitions by some aggrieved personnel,” he said. He urged the public, not to misconstrue the recent directive to mean total recall of dismissed and deserter soldiers. In another development, Nigerian Air Force, NAF,

yesterday said its fighter jets has successfully combined with ground troops to repel the latest Boko Haram attack on Bita village in Borno State. Over 50 terrorists were killed as the Air Force Alpha jet carried out an air bombardment of Bita, according to a statement by NAF, through its Director of Public Relations and Information, DOPRI, Air Commodore Dele Alonge. Alonge said: “The Nigerian Air Force, in a combined effort with the ground troops of the Nigerian Army have successfully repelled an attack on Bita village by the Boko Haram terrorist group. “The Air Force, using its Alpha-Jet provided combat air support to the ground force to attack the insurgents where they were ob-

served to be mopping up to carry out a deadly attack on the village. “Consequently, a large number of the insurgents were killed and several others were injured. “Thereafter, the NAF A-Jet conducted an armed reconnaissance along BitaGwoza road and through Yamtege, Hamdaga, Dure and Pulka.” The spokesman said NAF would continue to give all necessary support to the ground force through its intensified and persistent efforts in the ongoing fight against terrorists until all portions of Nigerian soil are safe and freed from the insurgents. The new Chief of the Air Staff, Air Vice Marshal Sadeeq Abubakar, has pledged to improve NAF fire power in the ongoing

fight against Boko Haram. Meanwhile, suspected Boko Haram members on Saturday evening invaded Malari village in Konduga local government area of Borno State, killing many residents and setting houses ablaze. The insurgents also looted food items, which were loaded into vehicles snatched from the villagers. Fleeing residents told our correspondent that the insurgents were not many in number as they came into the community in three motorcycles, but armed with AK47 rifles and petrol bombs. The source said the attackers wrecked havoc as they shot at panicked residents. It was learnt that military patrol vehicles conveyed corpses of the victims of the attack as well as the injured

to undisclosed hospitals in Maiduguri yesterday. The state Police Command confirmed the killing of seven persons during the attack. The state Commissioner of Police Mr. Aderemi Opadokun, stated this while speaking with newsmen in Maiduguri. “Information available indicates that suspected terrorists attacked Malari village in Konduga local government area on Saturday around 22:30 hours. “The attackers burnt down some houses and killed seven persons in the village situated along Kondug a-Maiduguri road,” Opadokun said. He said that security agents had already commenced investigations on the issue.

President Muhammadu Buhari; President of Benin Republic, Mr. Boni Yayi and Lagos State Governor Akinwunmi Ambode during the 55th Independence Anniversary of Benin Republic, on Saturday.

620 Nigerian refugees repatriated from Cameroun INUSA NDAHI MAIDUGURI

igeria’s National Emergency Management Agency, NEMA, yesterday repatriated over 600 refugees that fled to Camerounian border towns of Fotokol, Amchide and Maroua following Boko Haram attacks on Gamboru, Dikwa and Banki that claimed many lives and property in Borno State. The refugees, according to North East Zonal Coordinator of the agency,

Mohmmed Kanar, took refuge in the three Camerounian towns, having fled across the border areas of Gamboru and Banki for safety early this year and last month. “Gamboru residents, including women and children, had fled because of incessant Boko Haram attacks on their communities. They had no any other means of escape except through the CamerounNigeria border bridge, accessing Fotokol and two other towns in Cameroun on foot.

“The refugees could have been repatriated since they fled, but because of insecurity in the borders areas. Again, protocol in repatriating these fleeing residents had to be followed before NEMA could repatriate the 620 Nigerians through Sahuda route in Cameroun and Mubi in Adamawa State this week,” said Kanar in a telephone interview in Maiduguri. On the resettlement of refugees, Kanar however said: “As I speak to you now; the first batch of refugees in over half dozen

buses, are being screened by military and immigration personnel at the military post of Njimtilo along the Damaturu-Maiduguri road.” The military screening, according to him, is to ensure they are genuine returnee refugees from Cameroun, before they are resettled at the Gubio road camp for Internally Displaced Persons, IDPs in Maiduguri. He explained: “Each and every returnee refugee at the screening entry point of Njimtilo must identify himself or herself, their

original point of escape in Nigeria, before the Military and Immigration personnel allows them to board the awaiting buses to IDP camps in Maiduguri metropolis.” The agency also last March repatriated over 600 Nigerian refugees from Bosso in Niger and Chad and resettled them at the 400 Housing Estate on Gubio road, Maiduguri. Of the 620 returning refugees, over 70 percent are women and children, while most of the children are below 12 years old.

Photo News

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

L-R: Group Head, SME, Heritage Bank, Bayo Ogunnusi; Dean, School of Postgraduate Studies, University of Lagos, Professor Obinna L. Chukwu; Executive Director, Heritage Bank, Ola Olabinjo; Vice-Chancellor, University of Lagos, Professor Rahamon A. Bello; Group Head, e-Banking, Heritage Bank, Tobe Nnadozie; Dean-Elect, School of Postgraduate Studies, University of Lagos, Solomon Akinboye and Deputy Registrar/Admin. Sec, School of Postgraduate Studies, University of Lagos, Yetunde Ogunlewe, during a courtesy visit by Heritage Bank Management to Vice-Chancellor of the University of Lagos, recently. L-R: Head of Flight Operations, Capt. Godfrey Ogbogu; Managing Director/Chief Executive Officer, Med-View Airline, Alhaji Muneer Bankole; Capt. Pedro Pissarra and Head of Engineering, Engr. Lookman Animashun, during delivery of the Airline’s New Aircraft Boeing 767-300 at the Murtala Mohammed International Airport, Ikeja, Lagos, yesterday. PHOTO: ADEYANJU OLOWOJOBA

L-R: President, National Union of Lagos State Students (NULASS), Daniju Sultan; Guest Speaker, Senator Oluremi Tinubu; Special Guest, Hon. Olusegun Olulade and Dean, Students Affairs Division, UNILAG, Akoka, Lagos, Prof. Tunde Babawale, at the presentation of NULASS “Life Membership” to Senator Oluremi during the Inaugural Lecture of NULASS in Lagos, at the weekend.

L-R: General Manager, Nigerian Content Development, Shell Nigeria, Chiedu Oba; Petroleum Technology Association of Nigeria (PETAN) Administrator, Jumoke Oyedun; Head of Nigerian Content Development, Shell Nigeria Exploration and Production Company of Nigeria, Austin Uzoka; PETAN Publicity Secretary, Nik Odinuwe...at the just concluded Nigeria-UK Suppliers Engagement programme sponsored by SNEPCo and its co-ventures.

National News Boladale Bamigbola, OSOGBO

here were conflicting reactions among residents of Ile-Ife yesterday regarding reported arrival of the remains of Ooni, Oba Okunade Sijuade, in the town. Some residents, who spoke with our correspondent, said no “strange thing” entered the town. Chief priest of the ancient town, Oba Olajide Farotimi Faloba, in a chat with newsmen dismissed claims that Ooni’s body had arrived in the town, insisting that Oba Sijuade is alive. “Ooni is hale and hearty, and that is to confirm to you that nothing has happened to him. “If he is still alive, why the rumuor that his remains had arrived in the ancient town? “Ooni’s death cannot be hidden. Assuming his reported death is true, you will notice crowd

Ooni: Residents disagree over remains arrival •We’ve not received his body –Oodua chief priest

at the main palace gate, while the gate would be locked and no one would be allowed to enter. “Also, the Oduduwa chief priest will announce the demise of the Ooni upon sounding of a bell at Enuwa square, located in front of the palace. “After the announcement, all trees in the market would be cut; markets would be closed, while all forms of merrymaking such as drumming or partying would be suspended in town for a number of days. “In fact, Ooni’s son, Adegbite is having his weeding in Lagos as we speak. If the rumour is

true, we should be the one to announce it. We are the owner of our culture; Obaship in Ife kingdom is sacred and should be handled as such,” Farotimi said. A palace source, who did not want to be mentioned, also said nothing was brought to the place, stressing that, if at all the remains of the monarch had been brought back, it must had been kept elsewhere and not within the palace. “It is a taboo for anyone to see Ooni’s corpse when being brought. It is not true that it has been brought back to Ife. If it is true however that the corpse had been brought

back, it is not within the palace yet,” the source said. A source in Enuwa, however, informed our correspondent that the remains of the monarch might have, somehow found its way into the town. During a visit to Ile Oodua, Ooni’s palace yesterday, no visible change was observed and the gate was open to guests. Commercial activities were also on across the town despite ongoing Oro festival. Meanwhile, an Ife based group, The Cradle Youths, has called on indigenes of the town

not to be anxious on the circumstances surrounding the health of Oba Sijuwade, saying the Traditional Council knows the right thing to do. The coordinator of the group, Mr. Kunle Elusayo, said this in a statement issued at IleIfe and made available to newsmen. Elusayo, who commended the Traditional Council for their role, explained that there are guidelines and traditions to be followed when issues like this occur. He explained that only information circulated by the council should be followed, arguing that

there is a customary law regulating the selection of who becomes the next Ooni, if the need arises. Elusayo added: “The Traditional Council is in the right position to say anything concerning the status of the Ooni. People should wait and respect the position of our tradition, history will not forgive anyone that betrays our tradition and law. “If at all anything happens to the king, God forbid, the declaration made under section 4 (2) of the Chief Law 1957 of Customary Law Regulating the selection the Ooni of Ife should be followed strictly.”

National Mirror www.nationalmirroronline.net

News

Monday, August 3, 2015

Nigeria’s unemployment rate rises to 8.2% in Q2 –NBS CONTINUED FROM PAGE 1

increased to 103.5 million in the second quarter (Q2), up from 102.8 million in the first quarter. In addition, the Bureau disclosed that the labour force population, comprising those within the working age, willing, able and actively looking for work, increased to 74.0 million in Q2 from 73.4 million in Q1, indicating an increase in the labour force by 0.81 per cent. This means that 574,498 economically active persons within 1564 entered the labour force during the quarter under review. Giving a comprehensive analysis of the country’s jobs trends in its Unemployment/ Under Employment Watch, the statistics producing agency stated that within the same period, the total number in full employment, or those that did something for at least 40 hours weekly decreased by 1,317,700 or 2.37 per cent. The NBS attributed the decline in the number of full employment or those working less than 40 hours despite a rise in the labour force to job losses or previously fully employed persons choosing or being forced to work part time or in underemployment. It clarified further that with an economically active or working age population of 103.5 million and labour force population of 74.0 million, the rate indicated that 29.5 million persons within the economically active or working age population decided not to work for various reasons in Q2, compared to 29.3 million in the preceding quarter of this year. The Bureau stated: “The number of underemployed in the labour force during the review quarter however, increased by 1,362,274

or 11.16 per cent resulting in an increase in the underemployment rate to 18.3 per cent (13.5mn) in Q2 2015, from 16.6 per cent (12.2mn) in Q1 2015. “Accordingly, there were a total of 19.6 million people between ages 1565 either unemployed or underemployed in the labour force in Q2 2015, compared to 17.7 million in Q1 2015.” On the unemployment and underemployment rates by age, the Bureau reported that 48.7 per cent of Nigerians in the labour force aged 1524 were either unemployed or underemployed compared to 44.3 per cent in Q1, while another 28.4 per cent aged 2534 were either unemployed or underemployed in Q2 compared to 25.9 per cent in the preceding quarter. A further decomposition of the report on gender basis showed that while 9.6 per cent of women in the labour force were unemployed in Q2, another 21.6 per cent were underemployed. On the other hand, 6.9 per cent of males were unemployed in the quarter under review compared to 15.4 per cent of underemployed. The urban and rural unemployment and underemployment categorisation showed that underemployment continued to be more of a rural phenomenon with 22.1 per cent underemployment and 7.4 per cent unemployment rates. On the other hands, the rate of unemployment and underemployment in urban areas stood at 10.1 per cent and 7.4 per cent respectively in Q2, 2015. It would be recalled that the Bureau had last September inaugurated a Committee of experts and stakeholders to review the definition and methodology applied in

computing unemployment statistics in the country. The initiative was designed to assess the current definition of unemployment in the context of Nigeria, and by so doing, recommend a new appropriate

definition for computing unemployment rate and other labour-related indicators in line with internationally agreed standards as well as satisfying local conditions On historical model of labour force computation,

KATSINA

overnors of the 19 northern states have been asked to focus attention on agriculture to salvage the region from total dependence on petroleum fund. Director, Institute of Agricultural Research, Ahmadu Bello University, Zaria, Prof Ibrahim Abubakar, made the call yesterday in an interview with newsmen. Abubakar said time had

come for northern state governors to collaborate in finding alternative sources of funds to develop the region. He said it was unfortunate that despite the region's agricultural potential, it still depended solely on federation allocation for payment of salaries and provision of social infrastructure. He said the north has 80 percent fertile land that if adequately harnessed, could produce enough food for the entire country.

less than 40 hours, were classified as unemployed. The International Labour Organisation, ILO, uses an hour a week as the benchmark for employment, as opposed to 40 hours used by the Bureau.

L-R: Executive Director, Resources, United Bank for Africa (UBA) Plc, Ms Obi Ibekwe; Vice Chancellor, University of Lagos(UNILAG), Professor Rahamon Bello; GMD/CEO, UBA Plc, Mr Phillips Oduoza and Deputy Vice Chancellor, UNILAG, Professor Duro Oni, at the formal presentation of N52.9m endowment for the UBA Professorial Chair of Finance to the University of Lagos, at UNILAG campus, Akoka, Lagos, at the weekend.

Dogara has shown sound leadership –Garba TORDUE SALEM ABUJA

awmaker representing Sumaila/Takai Federal constituency of Kano State in the House of Representatives, Garba Durbunde, has commended Speaker Yakubu Dogara for showing sound leadership qualities in resolving the crisis in the House. Durbunde, an All Pro-

gressives Congress, APC, member, gave the commendation at a press briefing in Abuja at the weekend. "I give Speaker Dogara pass mark over the sound approach he used in resolving the little crisis in the House. That shows he is capable of handling affairs of the House," the lawmaker stated. On the alleged slowness of the regime of President Mu-

hammadu Buhari, he pleaded with Nigerians to exercise patience as, according to him, the president needs time to form a formidable government to work for Nigerians. He explained that Buhari “wants to touch the places that the former administration did not touch. That is why he is taking time to come up with his team. He wants to come with a sound and for-

midable team that will take Nigeria to the next level.” Garba said his main priority in the House is “to ensure good representation that would better the living standard of his people,” and that the support he enjoys from his constituents would make him do a lot for them. He promised to attract agriculture dividends for members of his constituency.

Tiv people petition Ishaku over attacks isplaced Tiv people in Taraba State have petitioned Governor Darius Ishaku over

continued attacks on its people by Fulani herdsmen, urging the governor to ensure speedy resolution of the crisis. They urged the governor to hold the local chiefs re-

He added that 80 per cent of north's population are farmers that if given necessary support and farm inputs, were capable of producing food for the nation and exporting to rest of the world. The director said the north also had enough dams that could be used for the production of food and vegetables during the dry season. He however called on farmers to patronise the institute to acquire improved variety of seedlings that have potential

of producing large quantity of agricultural produce. He said the institute had carried out researches and came up with improved seedlings on bio-technology that is drought and insectresistant. He called on farmers to stop the over-dependence on state governments and form cooperative societies that would assist them source for loans from agricultural banks and other financial institutions.

JUSTIN TYOPUUSU JALINGO

Northern govs tasked on agriculture JAMES DANJUMA

the NBS defined the unemployed as the proportion of the labour force that did no work at all or worked less than 40 hours a week. The old definition however created a major challenge, as those who work for

sponsible for the attacks if he must succeed in returning peace to the state. Leader of the Internally Displaced Peoples, IDPs, in Bali Local Government Area of the state, Gideon Chum, stated this yesterday at a press briefing in Jalingo while reacting to Saturday’s attack on his people, who were ambushed and shot. Chum accused the district head of Bunga in Bali Local Government, Abubakar Garba, of masterminding the attack where Terzungwe Hanemaor, Terzungwe Mbaahiirga and Mpuuga Akperaga were shot on their way back from the burial of one elder Utsua Daar. According to a letter presented to journalists at

the briefing by Chum, the district head had on July 22 written the Bali Divisional Police Officer threatening that 103-year-old Daar should not be buried in the area, as according to him, the man was not an indigene. The leader further explained that in a bid to stop the burial of Daar on his ancestral land, the chief mobilised people who went and demolished the grave two days to the event. Chum noted that Daar lived on the said land long before Garba's father was born and also served the local government as a councillor, wondering why the chief should be claiming that the deceased was not an indigene of the area.

News

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

SEC postpones hearing on BGL, others’ cases JOHNSON OKANLAWON

L-R: Wife of Edo State Governor, Mrs. Lara Oshiomhole; Edo State Governor Adams Oshiomhole; Mrs. Folake Soyinka and Nobel Laureate, Professor Wole Soyinka, during the hosting of Governor Oshiomhole and his wife by the Soyinkas in Abeokuta, Ogun State, yesterday.

FG orders audit queries answered within 30 days OMEIZA AJAYI ABUJA

resident Muhammadu Buhari has expressed displeasure at the non-resolution of audit queries within a specified time frame. Consequently, he has ordered Auditor-General of the Federation to ensure that all outstanding audit queries were conclusively resolved within 30 days. The president has also ordered that henceforth, all audit queries must be answered within 24

hours. Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said the orders followed the president’s displeasure on hearing that audit queries remained unanswered for long periods, sometimes running into years, under previous administrations. According to him, Buhari is irrevocably committed to tackling administrative and bureaucratic malfeasance head-on. “The era of impunity

is gone. The president is taking the war on corruption to the civil service. He is not happy that standard operating procedures and financial regulations were no longer being observed as they should. “President Buhari will ensure that public officials and civil servants in the service of the Federal Government pay a heavy price from now on for violating financial regulations or disregarding audit queries,” he said. He added that the president was determined to

put an end to the present situation in which, rather than respond to legitimate audit queries, violators of financial regulations in the Federal Government resort to threatening, bribing or mounting other forms of social pressure on auditors. “On his watch, President Buhari wants to see firm action against those who violate extant financial regulations, not the prevarications and shenanigans that went on in the past in the form of endless probes and public inquiries,” he added.

Respect host law, Buhari counsels Nigerians in Benin O MEIZA A JAYI ABUJA

resident Muhammadu Buhari has told Nigerians residing in Benin Republic to drop their ambition of returning home without cogent plan for livelihood, saying they should stay put in their country of residence where they are currently doing well, rather than rushing back to add to Nigeria’s plethora of problems. Buhari said this at the weekend when he met with the Nigerian community in Benin Republic during his oneday visit to the country. “I believe a lot of you are doing well and are better off here. So, the

question of facilitating your coming home does not arise. We don’t want you to come back home and be unemployed. Don’t come and add to our problems. If you have something doing here, please continue doing it,” he told his audience. On facilitating the establishment of an Open University in that country for Nigerians, the president asked them to formally write through the ambassador, who will officially write the Ministry of Education, before the Federal Government can examine the possibility of expanding the facility. Urging the Nigerian community to respect their hosts’ culture and

obey their laws, Buhari expressed sadness at the number of Nigerians in South Africa which he said did not portray Nigeria in good light. “Some of them are in prison for committing a number of crimes. But for you who are close home, you should do your best in being good ambassadors of the country,” he said. Speaking on regional efforts to eliminate insurgency, Buhari said the Republic of Benin has identified with the countries of Lake Chad Commission which comprises of Cameroon, Chad and Nigeria. “He (Boni Yayi ) made an undertaken of providing a number of troops to join the Task Force

troops of the Chad Basin Commission countries to fight the Boko Haram. I will not mention the number of troops because it is a security issue. As you know, Nigeria is expected to make a bigger contribution. By yesterday (Friday), we are supposed to take the troops off the ground. So, Benin Republic through the President is participating in fighting Boko Harm,” he said. On the request for two more consulates in Benin, he said he will direct Nigeria’s ambassador in Benin Republic to make the request to the Ministry of Foreign Affairs so that by the time we are doing the next budget, it would be included.”

ecurities and Exchange Commission, SEC, has postponed hearing on the complaints levelled against BGL Plc by more than 30 investors. The postponement was sequel to a Federal High Court order, which directed the commission not to take further action on the matter. SEC had summoned BGL and its principal officials to its Administrative Proceedings Committee, APC, for a hearing slated for August 4 and 5. A statement issued by the commission yesterday hinted that it had to postpone hearing in the SEC APC/01//2015 Rivers State Ministry of Finance & 31 others Vs BGL Plc & 31 others at SEC head office, Abuja, to a date to be announced later because of a Federal High Court order. Section 310(1) of the ISA and Rule 599(1) of the SEC Rules and Regulation empowers the commission to set up the SEC Administrative Proceedings Commit-

tee, APC, to hear complaints on alleged violations of securities laws governing the market. Pursuant to these powers, the APC was scheduled to hold on the 4th to 5th August 2015 to hear SEC APC/01//2015 Rivers State Ministry of Finance & 31 others Vs BGL Plc & 31 others. The Commission has, however, been restrained by an ex-parte order obtained by the Plaintiffs/Applicants in suit number: FHC/L/ CS/1050/2015 BGL Plc & 12 others Vs SEC & 2 others directing that parties maintain the status quo. According to the commission, in view of the order, it has to postpone the APC hearing to a date to be announced later. SEC stated: “The Commission wishes to assure all stakeholders and the general public that it is committed to protecting investors and the capital market and to this end will ensure that persons who violate the provisions of the Investments and Securities Act and the Rules and Regulations made pursuant thereto would be sanctioned appropriately.”

PDP decries lack of economic team by Buhari’s govt OBIORA IFOH ABUJA

eoples Democratic Party, PDP, has said the absence of an economic team in the third month of President Muhammadu Buhari’s administration may led the country into economic quagmire and doldrums. In a statement by Chief Olisa Metuh, National Publicity Secretary of PDP, the party said, “In the past, we had given examples of the devastating effect of lack of an economic team and a clear-cut fiscal policy by this administration as evidenced in the lull and painful decline in the stock market, spiral rate of inflation, the disastrous outing of the government team in bilateral talks during the recent visit to the United States of America and the sham-

bolic state of our economy at present. “This confusion has been extended to operations and regulations of the foreign exchange transactions in Nigeria wherein the government is making it impossible for honest Nigerians to engage in free trade and regulate their personal activities as guaranteed by the constitution, and this is clearly an agenda to illegally impose a communist economic regime on Nigerians.” PDP noted that in a desperate attempt to create a semblance of movement out of the clearly motionless and stoic state of affairs of this government, the APC led government has reeled out bans and complete clampdown on free trade. “One begins to wonder therefore whether we are not heading back to the era of import duty licenses and regulation of commodity prices.

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

Politics

Fireworks as new caucus leaders emerge in the House

Court declares Igbindo stool vacant Deborah Didi

n Ondo State High Court sitting in Ondo town in the suit No HOD/131/2015 filed by Prince Adetutu Ifashole and other members of the Ogbowokun Lobirin ruling house of Igbindo town, challenging the eligibility of one Mr John Olaniji Ogundoju to aspire to fill the vacant stool or become candidate to fill the vacant stool of the Akinnuwa of Igbindo from the Ogbowo-Okin ruling house because he hailed from the female lineage as against the age long customs and tradition of who ascended the throne, has declared the Igbindo stool vacant. While delivering the judgment on the suit, the High Court judge granted an order of perpetual injunction restraining Ogundoju from parading himself or imposing himself as the Akinnuwa of Igbindo town. Going further, the court granted an order the chair-

man, secretary or any other member of the ruling house not to present Ogundoju to the warrant chief and/or kingmakers of Igbindo as a candidate to contest and/ or to fill the vacant stool, for not being qualified or eligible to ascend the throne of Akinnuwa of Igbindo land. Part of the judgment reads: “An order of injunction is hereby issued restraining the 1st, 2nd and 3rd defendants from imposing themselves, particularly the 1st defendant on the Ogbowo Okun ruling house as the next Akinnuwa of Igbindo and/or disrupting the age long custom and tradition and/ or due process of selecting or electing an eligible candidate or candidates to apply to contest and/or fill the vacant stool of the Akinnuwa of Igbindo. “An order of perpetual injunction is hereby issued restraining the 1st defendant from either imposing and/or parading himself as the Akinnuwa of Igbindo land.”

Another Dickson’s aide resigns, joins APC

Osahon Julius YENAGOA

ormer political son to first executive governor of Bayelsa State, Chief D.S.P Alamieyeiseigha and the General Manager of Bayelsa State Transport Authority under Governor Seriake Dickson’s administration, Prince Ebitemi Amgbare, has resign his appointment to join the All Progressive Congress, APC, saying his political future is not tied to Governor Dickson or Alamieyeiseigha. Hon. Amgbare, who was the flag bearer of the defunct Action Congress, AC, during the 2007 guber-

natorial poll in the state, whose suit led to the annulment of former Governor Timipre Sylva’s election by the Appeal Court sitting in Rivers State, while speaking yesterday said the decision to return to the APC was due the inability of Governor Dickson to allow him interpret the progressive and pragmatic development vision in the state transport sector. Amgbare, who described the decision to move back to the APC as a personal decision, dismissed the claim that he may not find sound footing within the APC due to past relationship with Chief Sylva and his relationship

with Alamieyeiseigha. He said: “I am convinced that the APC is where my political future is in Bayelsa. Alamieyeiseigha took me to defunct AC and left me there. It is time a father does his own thing and the son does what is right for his political future.” On his relationship with Sylva following his role in the 2007 election petition that led to the annulment of Sylva’s election, Hon. Amgbare said the relationship with Sylva is cordial and filled with mutual respect, adding: “I recognise him as the leader of the APC in Bayelsa and he should also recognise that the role I played during the events that led

to the annulment of his election was due to party loyalty. “Sylva was also loyal to the APC that was why he joined forces with the progressives and sack the administration of Goodluck Jonathan. My party at that time, the AC used the various election petitions, including mine against Sylva, as a test case to prove that the former Independent National Electoral Commission, INEC, boss, Muarice Iwu, was not fit to head the commission. It was those court decisions, including the annulment of Sylva’s election that led to the removal of Iwu and the coming of Professor Attahiru Jega.”

House crisis: PDP accuses Buhari of interference Tordue Salem ABUJA

inority Whip of the House of Representatives, Yakubu Barde, PDP-Kaduna, has accused President Muhammadu Buhari of interference in the affairs of the green chamber. Barde, who has been a member of the House and of the Peoples Democratic Party, PDP, since 1999, in a press statement he signed yesterday, accused the President of double standards on matters in the lower House. Referring to an earlier report in the media quoting House Majority Leader, Hon. Femi Gbajabiamila, as saying Buhari and the leadership of the party intervened to make him Leader of the House, Barde alleged that “if as Gbajabi-

amila claimed, Buhari did influence his emergence as House Leader, it will rather be unfortunate that the President is not a man of his words and Nigerians should now begin to scrutinise every word that emanates from his mouth. We are alarmed by this development because it portends grave danger for our democracy and the independence of the legislature.” He warned that “the President must resist the temptation to use his power and influence to compromise the institution of the National Assembly by directly involving himself in the process of emergence of principal officers of the House,” adding: “We will continue to resist any attempt to compromise the independence of the House as protected by the constitution.”

L-R: President, Ijesa Society Group, Chief Tunde Aluko; Osun State governor, Rauf Aregbesola; First Vice President of Ijesa Society Group, Chief Felix Fagbohungbe and Secretary to Osun State Government, Alhaji Moshood Adeoti, during a courtesy visit to the governor, at Government House, Osogbo, at the weekend.

NIAP blames collapse of local industries on porous borders Obiora Ifoh ABUJA

ollowing its rally yesterday in Abuja, the Nigerian Initiative for Accountability and Probity, NIAP, has blamed the collapse of local industries in Nigeria on ill-manned and porous borders, saying this has led to proliferation of prohibited goods. Making its position known after its rally in Abuja, NIAP’s convener, Dr. Bashir Maru, condemned the granting of what he

termed ‘frivolous import waivers’ to friends and cronies of top government functionaries, saying the decay being recorded in the system has negatively impacted on the system and hence the need for new order. Expressing concern over the activities of smugglers and the security challenge in the nation, Maru said it was regrettable that such lapses in the nation’s borders had further jeopardised the war against Boko Haram and allowed prohibited weapons as well

as arms and ammunition to be assessed by the sect, thereby complicating the challenge of terrorism. He noted that the “the Nigerian government has lost large amounts of revenues to the activities of these smugglers,” adding that there was need to overhaul the system towards greater efficiency, transparency and results-orientation. Calling for the quick overhaul of the Nigerian Customs, NIAP said it was time for a new order to be instilled in the administration of one of the nation’s

most resourceful parastatal. He expressed optimism that if concerted efforts were deployed to secure the nation’s borders, the new government of President Muhammadu Buhari would find the Customs an indispensable tool that could effectively be utilised in the war against insurgency, protection of local industries as well as its additional responsibility of being a major revenue earning organ for the nation.

Politics

eal fireworks should be expected in the coming weeks, with the emergence of Hon. Femi Gbajabiamila and Hon. Leo Okuweh Ogor from Lagos and Delta states respectively emerged as Majority and Minority Leaders of the House of Representatives representatively. Though these seasoned and brilliant legislators have been friends since when the reverse was the case politically, they are also noted as tough and thorough-going opponents on matters of legislation, party and national importance. Their emergence as Majority and Minority Leaders respectively, couldn’t have been more appropriate, going by their individual records of competence. While Hon. Gbajabiamila, an American-trained lawyer, has been a member of the House since 1999, Ogor, a British-trained financial expert, has served as a veritable encyclopedia of the laws of the federation and the Rules of the House since 2003. While the urbane Gbajabiamila was depended upon for electrifying and erudite legislative interventions on the floor of the House in the 7th Assembly, Hon. Ogor, who was then the Deputy Leader of the House, was tapped to wager in on matters regarding order and legislative items. With the fall of the Peoples Democratic Party, PDP, and the rise of the All Progressives Congress, APC, the positions have reversed, but the cross fire from these interesting legislators, is not likely to abate. The duo, with their elections to their individual positions last week and with the high demand on the opposition PDP to prove its mettle to Nigerians once again, the engaging Ogor has a great job cut out for him. Unlike Ogor, Gbajabiamila had to battle extremely hard and long for his position as Leader. But finally, last week Tuesday, issues around the matter were resolved with the concession of the position of House Leader to Hon. Gbajabiamila and the position of Whip of the House to Hon. Alhassan Ado Doguwa from Kano State. The tussle for House Leadership in the green chamber dragged on for several weeks, with the Speaker sticking to his guns that the South-West zone could not produce two principal officers. But the Speaker later conceded the position to Hon. Gbajabiamila. Hon Buba Jubril emerged Deputy Leader and Pally Iriase, Deputy Whip. The Speaker also announced Ogor as Minority Leader, Yakubu Umar Barde, Minority Whip, Chukwuka Onyema, Deputy Minority Leader and Binta Bello, Deputy Minority Whip, all from the Peoples Democratic Party, PDP. In a post-plenary press briefing, the spokesman of the House, Hon. Sani Zoro, Jigawa-APC, said despite initial hitches, the crisis was resolved on Thursday with the intervention of President Muhammadu Buhari. He said: “You are all witnesses to the eventful plenary session today upon the resumption of the House of Representatives. “You can also remember that when we were going on recess and there were some disturbances in the House of Representatives, we made it clear that the problems we were going through were merely transitional in nature and we have been proved right. “Today we have resolved all the problems that brought about that circumstance. What transpired today is the triumph of the internal democracy of the House of Representatives and this triumph is also anchored on four factors.” According to Hon. Zorro, the resolution of the crisis was a demonstration of reason over blind ambition, adding: “It is anchored on patriotism, constitutionalism, reason and rationality; this Is what guided the steps taken by the entire House of Representatives led by its leadership and all the contending groups that were party to the various negotiations. “Whenever the House comes in afresh upon proclamation because of the complexity of the House made up of 360 members of diverse background, this kind of situation cannot but come up.” He said what the House “did was purely transitional and is in order but I can assure you that apart from the triumph

with the remarkable duo, the

House is expected to

be agog with activities in the next few weeks as

Nigerians await the

dividends of change across board.

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

Fireworks as new caucus leaders emerge in the House

TORDUE SALEM predicts a House marked by intellectual rigour and political pyrotechnics, as some of the most brilliant and tested legislators, Hons Femi Gbajabiamila and Leo Ogor become Majority and Minority Leaders respectively.

Gbajabiamila

Ogor

of dialogue the 8th House of Representatives has shown that we are matured politicians. Politics is about give and take and that is what has happened.” The leadership, the commitment of the leadership and the followership of the House of Representatives to the objectives of the party and commitment to national interest can no longer be in any doubt. Zoro promised Nigerians that with the resolution of the fracas, the House would return to peace and purpose. He said: “We, members of the House of Representatives will be of good behaviour henceforth, there will be no cause for rancor, talk less of the kind of disturbances that we witnessed the other day.” he also attributed the resolution of the tiff to the intervention of President Muhammadu Buhari, adding: “We want to use this opportunity to thank Mr. President for a 20-minute meeting, it was very very crucial, what Mr. President did was a fatherly engagement, what he did has clearly shown that he is not the so called dictator that our opponents wanted to paint him as. He said let the National Assembly follow its own democratic processes and its leaders will emerge and that is what happened.” He recalled that “even the party was cautious, the party was accused by contending groups, but the party wanted to respect that principle, obviously the President is a game changer. We thank him and recognise that dem-

ocratic temper in him which is going to flow to all democratic institutions.” Hon. Gbajabiamila, with more than 25 years at the bar, practised in Georgia, the United States, before his return to Nigeria and its politics. He won elections into the House on the ticket of the Alliance for Democracy, AD, and like one of his predecessors in the House Minority Leader office, and equally brilliant Hon. Wunmi Bewaji, he ran his office with gusto and verve, until 2015. Gbajabiamila, has been the pride of the green chamber since the Speakership of Hon. Dimeji Bankole between 2007and 2011. Like Gbajabiamila, Ogor, an accountant and excellent legislative brinksman, left his practice in the United Kingdom to join politics in Nigeria and won elections into the House on the platform of the PDP. Because of his overwhelming competence, Hon. Ogor was even seen as the Majority Leader in the 7th Assembly, even when Hon. Mulikat Akande-Adeola from Oyo State, was actually the Majority Leader. He has kept faith with his party, and his abiding passion to deepen legislation in Nigeria and leave a deep mark. Therefore, with the remarkable duo, the House is expected to be agog with activities in the next few weeks as Nigerians await the dividends of change across board.

Lawmaker sympathises with fire victims in Lagos Ebere Ndukwu

agos State House of Assembly member representing Oshodi/Isolo constituency II, Sir Jude Idimogu, at the weekend visited and sympathised with residents of Mechanic Village in Oke-Afa Ejigbo, a Lagos community where a fire outbreak last week killed three siblings and destroyed properties, assuring them that the state government will come to their aid. Disclosing how the incident happened, Razaq Olorode, President of the mechanics in the area

said that the incident occurred at night when a bus carrying fuel and was been pursued by police collided with another vehicle. He said three siblings who lost their lives as a result of the fire incident were told by their dad to close shop and go home “but they did not go home. All together we lost the three children, 11 shops were destroyed, two buses and the bus that was carrying the fuel were burnt.” Afraid that the state government may stop them from using the place as a mechanic workshop, as it is located under high-tension wire, Olorode pleaded: “Honourable, please assist

us so that they don’t pursue us, government officials have been coming to see the place since the incident and there is rumour that they want to pursue us from the village. We have been here more than 30 years and have no other place to go.” Idimogu assured them that the state government will investigate the incident and see how they can help cushion its effect on the victims and warn those who involve themselves in illegal business to desist as its consequences are always colossal. He said: “This is my constituency, so I’m here to get first hand information so

that I can get back to my Speaker and the House and also to tell you that we care. Government has to evaluate it after which there will be relieve but not immediately. “My heart goes for the family that lost three children. We also look at the issue of careless driving and bunkering, that’s the danger of doing illegal activity. Those who are in this kind of business should desist from such because the consequence is always severe. The amount of fuel he was carrying can be equivalent to the lives of those children and the properties that were lost.”

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Monday, August 3, 2015

Of NAFDAC, Orhii and internal dissenters MARTINS IKHILAE

he English playwright, William Shakespeare, effusively captured the inscrutability of the human nature in one of his popular quotes: “There’s no art to find the mind’s construction in the face”. This is the context I situate the savagery and effrontery of a misguided group that recently mobilized some equally misguided youths to march to the headquarters of the Economic and Financial Crimes Commission (EFCC), Abuja to demand the resignation of its chairman, Mr. Ibrahim Larmode. His only offence is his refusal to do a hatchet job for their paymaster, Mr Olusegun Mogbojuri, National Agency for Food, Drug Administration and Control’s (NAFDAC) erstwhile Director of Accounts and Finance. Mr. Olusegun Mogbojuri had petitioned the anti-graft agency alleging acts of impropriety against Dr. Paul Orhii, Director General of NAFDAC. On the surface such an action is within the ambit of any organisation’s operational framework, NAFDAC is, therefore, not an exception. However, the real motive is unveiled against the backdrop of the fact that the petitioner resorted to this action to protest his redeployment from the head office to the agency’s training school in Kaduna. Mr. Mogbojuri, in the method deployed to prosecute his cause, exposes himself to serious ethical scrutiny. For instance, why did he wait until after his redeployment to blow the lid off the alleged unsavoury de-

velopments in NAFDAC when the man he is trying so hard to rubbish has been at the helms of affairs since 2009? Again, why did he have to resort to gangsterism to force the hands of Mr. Lamorde, the EFCC boss, who ignored his petition for lack of merit? If Mr. Mogbojuri’s main reason for embarking on his current campaign against Dr. Orhii is his deployment from a perceptibly lucrative department in the head office to a lowly one in Kaduna, his action should be condemned by all discerning Nigerians. For his selfish interest, he is ready to pull down a great institution and thus in the process strip it of its all the important credibility necessary for a successful war against the nation’s drug traffickers and adulterators. Anywhere in the world, periodic redeployment of organisation’s staff is an organic part of its modus operandi. The NAFDAC is a well structured organization with layers of authority. In its directorate, Dr. Paul Orhii as the Director General and Chief Executive Officer, reserves the right to undertake strategic staff redeployment to enhance the agency’s efficiency. It, therefore, smacks of gross insubordination and insolence for any staff, no matter how highly placed, to resist such redeployment. When a staff resists redeployment and uses blackmail to stop such mere administrative act, the message is clear: Something untoward is going in that department. This then makes it more compelling for such a staff to be dislodged from his/her self-created comfort zone by the authorities. It is reassuring to note that such un-

FRIVOLOUS PETITIONS WOULD ONLY SERVE TO DISTRACT THE FOCUS OF

NAFDAC

conscionable act by Mogbojuri is being concertedly addressed by NAFDAC as a corporate entity. Two things are clear from this development. First, the agency’s entire staff have collectively passed a vote of confidence on Dr Orhii, which proves a repudiation of Mr Mogbojuri’s action. And secondly, the intended objective of Mogbojuri – whipping up anti-Orhii sentiments - has failed. Part of the statement issued by NAFDAC admitted that the staff were “aware of orchestrated plot to throw mud” at the agency to undermine the proactive actions of Dr. Orhii “towards ensuring that unwholesome food and counterfeit drugs become history in Nigeria”. The statement went ahead to dismiss Mogbojuri’s allegations as “baseless, false, misleading and frivolous”. The staff also wondered why the director, “who has been superintending over contract awards, payments and other due processes since 2010” would make such false and disparaging allegations just when he was redeployed to another directorate. The NAFDAC’s chapter of the Medical and Health Workers’ Union of Nigeria (MHWUN) also came to the defence of Dr. Orhii. African Arise for Change Network on

the War Against Corruption in Nigeria, a coalition of civil society groups in Nigeria, had earlier alerted Nigerians and the authorities that saboteurs had planned to overwhelm anti-corruption agencies by sending them on wild goose chase through baseless petitions. Nigerians and indeed the federal authorities must be on their guard against any untoward developments that could undermine the current anticorruption crusade of the Muhammadu Buhari administration. In particular, we must collectively ensure that proceeds from drug counterfeiting and adulteration are not deployed on stratagems geared towards derailing measures put in place by those fighting grafts in the country. Frivolous petitions would only serve to distract the focus of NAFDAC and other agencies so smeared, waste valuable man hour and resources in chasing shadow and kill interest in pursuing future cases. The nation’s anti-corruption agencies could also lose public sympathy and moral rights to carry on if tainted by allegations of corruption. Assaulting and rubbishing the integrity of NAFDAC could boomerang on the economy of Nigeria because a discredited regulator would be too weak to fight saboteurs; so quality of products will be compromised. Dr. Orhii has proved to be a survivalist, so he must refuse to be distracted this time around. Martins F.O. Ikhilae, a Lagos-based Public Affairs Analyst, wrote via martinsikhilae@ymail.com and can be reached on 08023405821 (SMS ONLY)

Bullying does not end in the playground SANDRA AKUOMA

ullying is a repeated verbal, physical, social or psychological aggressive behaviour by a person or group directed towards a less powerful person or group that is intended to cause harm, distress or fear. Bullying comes in various forms. We have the conceited adult bully founded on egotism, and it manifests in showing little or no mercy for others. Such bullies feel good when in control or when hurting people. Imprudent adult bully, on the other hand, relies on emotional intelligence to hoodwink his/ her victims. While an adult bully may not use physical abuse, he/she may threaten to hurt victims and destroy their belongings. This is called somatic bully. We also have verbal adult bully and ancillary adult bully. The former relies on power of the tongue, using strong words to disarm victims, sometimes causing them depression, while the latter are people who ‘suck up’ to bullies and avert attention from themselves by helping the bullies in their missions. These secondary bullies may feel guilty about their deeds but will not let it go in view of saving themselves. Scenarios where the different types of bullying are practiced include workplace, where an employee experiences a persistent pattern of mistreatment from others. It can include most of the tactics mentioned above like verbal, nonverbal, psychological, physical abuse and humiliation.

A N Y B O DY

CAN

BE A VICTIM OR

A P E R P E T R AT O R ; M O S T O F U S H AV E BULLIED SOMEONE E L S E AT S O M E POINT IN OUR LIVES Typical examples include being verbally abused by your boss and fellow colleague on a consistent basis; being picked on, receiving the “silent treatment”, or being ignored, passed over for a promotion, and being excluded from on-the-job social events, or colleagues refusing to assist when you ask for it. It could be having coworkers spread lies about you that no one refutes, or even sexual harassment. We also have customer bullying, that is having “difficult customers” who, standing by the motto that “customer is always right”, can treat you as they please, are repeatedly rude, threatening, rambling, abusive and demanding services out of the scope of what is expected. People who own small business or are in customer service roles are the usual targets, being the first point of call for customers. The internet, social media have opened a Pandora box of cyber bullying, which in its simplest form takes place between two people through email, instant messaging, or phone texting and the internet. These platforms are used to directly or indirectly

spite each other deliberately and repeatedly in the form of defamatory pictures, demeaning messages, videos, threats, etc. Most of the time, the perpetrators behind the act are anonymous and are known as ‘trolls’. “Trolls” is like catching fish by trolling a baited line in the water for a fish to bite. In the same sense, the Internet troll tries to “catch” an unsuspecting victim for the purpose of demeaning and humiliation. Trolls are an annoying problem for those who use the Internet regularly. Bullying in relationships and families: This can take the form of emotional bullying, which happens within the family/ relationships and it is often excused. This could be in the form of the bully acting upset in some way until the target gives in their unreasonable demands. By getting upset the bully aims to make the target wrongly feel that they are the ones being unreasonable and should therefore, back down. It is a form of manipulation. The upset may take the form of crying, shouting, sulking, and martyrdom (unreasonably refusing all help) or self-harm. The bully might say “I’m upset (or perhaps, more specifically, ‘you’ve upset me’) and I demand that you give me what I want in order to stop me being upset”, which is effectively the adult equivalent of a twoyear-old’s temper tantrum. This behaviour is most commonly exhibited between family members as, to be successful, it requires that the target cares that the bully is upset, which is only

going to be the case where there is a close relationship between the two parties. Emotional bullies usually moderate their behaviour (at least initially) with people they know less well. Financial bullying Financial bullying can come in the form of withholding money, restricting access to certain accounts, and limiting spending. Many bullies will force their partners to account for even small purchases by always asking to see receipts. In order to feel the power and control bullies crave they also often threaten to leave knowing this would leave their partner in financial trouble. Food for thought Anybody can be a victim or a perpetrator; most of us have bullied someone else at some point in our lives either deliberately or without realising that the person felt bullied. This article is just to create awareness to know whether it is happening to you or you are harming someone else. Ms Akuoma wrote from Lagos via sanlifepointers@hotmail.com and can be reached on 08165583876 (SMS ONLY) Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: mail@ nationalmirroronline.net mirrorlagos@ yahoo.com or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.

Editorial

Monday, August 3 2015

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

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

Amnesty package for ex- militants imperilled?

ontroversies are now foreshadowing the operations of the Amnesty Programme, which the late President Umar Musa Yar’ Adua-led Federal Government sealed with repentant Niger Delta militants and his successor, former President Goodluck Jonathan, dutifully serviced until he left office last May 29. Less than three months after Jonathan’s exit, however, there are claims that the programme is suffering. Former Federal Commissioner for Information, elder statesman and Ijaw leader, Chief Edwin Clark, claimed few days ago that N5.3 billion meant for the project was trapped in the Amnesty Programme Office due to the non-appointment of a replacement for Chief Kingsley Kuku, Chairman of the Programme under Jonathan’s government, with grave consequences on some of the beneficiaries of the programme. Clark said some youths and mothers demonstrated lately in protest of the dismissal of 13 exmilitant youths being trained as pilots by the Lufthansa Airlines Training School in Frankfurt, German. He said the trainees claimed they couldn’t continue with their training, having been sent packing by their various institutions in South Africa, Russia, Ukraine and other coun-

tries in Europe due to the failure of the FG to pay the Amnesty Training Fees and scholarship grants. “From my investigation, I’m reliably informed that lack of funds is not the problem, but the authority to operate the account. I’m also reliably informed that there is an amount of N5.3 billion left for the execution of the Amnesty programme”, Clark stated. Perhaps, President Buhari’s recent appointment of Brigadier General Paul T. Boroh (retd) as the new Coordinator of the Amnesty Programme may assist in resolving the quagmire. But we recall that Mr. Femi Adesina (Special Adviser on Media and Publicity to the President), was quoted as saying recently on Kaakaki, an Africa Independent Television (AIT) breakfast programme: “Don’t also forget that if a situation or process was riddled with corruption and you come saying you are going to clean up the system, and then you continue to just run on the same steam of what you met on ground…Talking of amnesty and all that, the President has said he still believes in the programme and will keep it going. But that he is studying the report. From another flank also came what appeared a contestation of the integrity of the programme

IN ALL OF THESE, THE PRESIDENCY’S EYES SHOULD FOCUS MORE ON HOW BEST TO PROMOTE PEACE AND STRENGTHEN NATIONAL SECURITY

by Chief Ayiri Emami, a former Niger Delta militant leader from the Warri area, now a chieftain of the ruling All Progressives Congress (APC), who even before Buhari’s inauguration as President, canvassed the scrapping of the amnesty package. Emami said: “If the layman’s understanding of the word amnesty is anything to go by, then it presupposes an arrangement where militants who genuinely turn in all their arms and ammunition are rehabilitated, re-oriented and trained with a view to reintegrating them to everyday societal living. In the ordinary sense of it, any person or group that picks up arms in the name of struggle or agitation ought to have been treated as terrorists, hence nobody or group should take the gesture of the Federal Government for granted”. This suggests a strong division in the Amnesty House itself, perhaps orchestrated by impunity in the selection of beneficiaries of the programme. something will be

ON THIS DAY August 3, 1936 A fire wiped out Kursha-2 in the Meshchera Lowlands, Ryazan Oblast, Russia, killing 1,200 people and leaving only 20 survivors. Kursha-2 was an industrial community in Central Meshchyora, Ryazan Oblast. It was built soon after Russia’s October Revolution for the exploitation of the local forests; but was annihilated by a firestorm on August 3, 1936. The firestorm started near Charus.

Letters tothe theEditor Editor Letters to

August 3, 2005 The President of Mauritania, Maaouya Ould Sid’Ahmed Taya, was overthrown in a military coup while attending the funeral of King Fahd in Saudi Arabia. Taya (born 1941), was the Prime Minister of Mauritania from 1981 to 1984 and president from 1984 to 2005. He guided Mauritania from military rule to democracy, and took a pro-Western stance in foreign affairs; but was ousted by the coup.

done”. As distressing as the nonremittance or non-payment of tuition fees and scholarship bills to some beneficiaries undergoing training may be, the development interrogates the planning and administrative competence of the Kuku-led Amnesty programme; coming less than two months into the life of a new administration, whereas N5.3 billion was in the programme’s kitty about the time Kuku left office, according to Clark. What appears the truth, however, is that the amnesty effort is under threat. Yet public expectation does not support the scrapping of the programme, considering how it drastically cut down restiveness and ushered in relative peace across the Niger Delta. Incidentally, too, President Buhari has voiced his readiness to negotiate with the ‘True Boko Haram’ to free the abducted Chibok girls; which could translate to anything, including amnesty of sorts. In all of these, the Presidency’s eyes should focus more on how best to promote peace and strengthen national security, without which growth, development and better welfare for Nigerians will remain mere phantoms; than anything else.

x August 3, 2010 Widespread rioting erupted in Karachi, Pakistan, after the assassination of a local politician, leaving at least 85 people dead and at least 17 billion Pakistani rupees ($200 million) in damage. The riots started after the assassination of MP Raza Haider, a member of the Muttahida Qaumi Movement (political party) on the night of August 2, 2010, in Karachi. The Muttahida Qaumi Movement (MQM) is a political rival of the Pashtuns.

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Monday, August 3, 2015

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Cover

Farmers Harvesting Rice

Tapping into agricultural revenue potential to tackle fiscal headwinds That Nigerian economy is today going through one of its worst fiscal crisis in recent years is a wellknown fact. In this report, Gbenga Odogun, considers the options open to the country to bridge its revenue shortfalls, especially through turning the opportunities in the agric sector to concrete economic gains.

n spite of its few lapses, the Agricultural Transformation Agenda, ATA, of the last administration has continued to enjoy stakeholders’ support in view of the socio-economic benefits if sustained. This general attitude to the agenda derives mainly from many analysts’ opinion that if consolidated, the ATA could be the benchmark for use in ongoing efforts to diversify the nation’s economic base and im-

prove agricultural and real sector products’ export earnings for the country. Generally, development experts have, based on recent achievements of the, ATA, canvassed the increasing need to use agriculture as a catalytic tool to drive the diversification agenda for rapid industrialisation. At independence in 1960 agriculture contributed substantially to the nation’s Gross Domestic Product, GDP, and was the main source of ex-

port earnings and public revenue. During this period, the agricultural marketing boards were playing leading roles in export trade as cash crops such as cocoa, coffee, kola nuts, cashew, oil palm and cotton became the chief foreign exchange earners for the country. UDO ONYEKA, CO-ORDINATOR BUSINESS COURAGE udonyeka@gmail.com c

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Ironically today, the story has changed with oil becoming the main source of foreign exchange earner for Nigeria, one of the fastest growing economies globally. However, the continuous drop in the price of oil in the international market in recent times have led to a drastic reduction in the amount of revenue accruing to the three tiers of government in the country, as at today no fewer than 18 states are owing salaries and pension arrears to their workers! the dwindling fortune of oil and the monumental fraud occasioned by the relative ease of ferrying crude out of the country with proceeds ending up in private pockets of fraudulent government officials have reawakened the consciousness of experts in calling for a revisit of agriculture as another instrument of revenue generation for the Nation. Central Bank of Nigeria’s statistic shows that Oil accounts for our major revenue contributing between 80 and 100 percent of our export earnings. Experts were unanimous in their assertions that a well harnessed agricultural sector of our economy will lead to increased food production which will in turn reduce poverty level among the citizenry. Apart from this, unemployment which is a very big challenge in the country today would be reduced to the barest minimum. If the government can begin to pay serious attention to agriculture, many unemployed but able bodied youths would consider farming as a worthwhile venture because with adequate incentive from the government, many Nigerians would be employed in the agricultural sector of the economy as it would have been made attractive. Furthermore, substantial foreign exchange earnings would be achieved through exportation of excess food to other countries of the world. Nigeria, with her vast expanse of land, can become the food basket of West Africa sub region

Business Courage

Monday, August 3, 2015

Amosu

Odumodu

in particular and the whole world in general, if her economy is diversified into agricultural production. With this, oil will become less important when agriculture is given a priority and this would lead to reduction in the violent agitation from the people of the region where crude oil is explored; cases of kidnapping of foreigners, young and old people in the region will be solved thereby erasing the bad image that the country has unduly earned through such acts of violence. Most countries that have developed best in the world today are those that have no oil Ibikunle Amosun is the executive governor of Ogun state. He said that with the continuous fall of oil price, it had become imperative for the country to take urgent steps to diversify the economy. Amosun, suggested that the country should pay attention to developing the agriculture and tourism sectors, which he believed were enough to sustain the economy. According to the governor, “Nigeria needs to shift focus away from oil as the mainstay of the economy as current reality has shown that crude oil cannot be predicted again.” “Oil has continued to fall at the international market. This is bad news for Nigeria because as we all know, oil is our mainstay. We are compelled now to shift focus away from oil to Agriculture

where we have comparative advantage,” the governor advised. Amosun said that before oil came, Nigeria survived mainly on agriculture, stressing that there was urgent need to go back to that era to rebuild our economy. His words “Before oil came, Nigeria survived mainly on agriculture. All the economic wonders performed in Nigeria before independence was products of agriculture. We must go back to it.” He further stated that continuous fall in the price of oil would have a direct negative impact on revenue accrued to the states and therefore it was high time state particularly Ogun turned its searchlight to agriculture, tourism and commerce, potentials of the state so as to improve on the revenue base of the state. “With continuous fall in oil price, many states

Poultry farm

are in trouble and this is the more reason we must diversify to Agriculture because revenues of states are already affected by dwindling fortunes of oil,” Amosun affirmed “The gospel of economic salvation cannot be preached without due regard to agricultural development” Said Chigbu Uchendu Egene. He said that Agriculture is the major and most certain path to economic growth and sustainability. It encompasses all aspect of human activities - being the art, act, a cultural necessity and science of production of goods through cultivation of land and management of plants and animals which creates an activity web-chain that satisfies social and economic needs. Agriculture is the mainstay of mankind; therefore wise nations all over the globe give it a priority by developing and exploiting this sector for

the upkeep of their teeming populations through the earning of revenue for development purposes; as well as employment for the stemming down crimes, corruption and other forms of indiscipline which work against all factors of life, living and most of all economic production. While many nations in the world are working hard and reaping their harvests in this direction, Nigeria happens to belong among the few that have greatly retarded from their past glorious heights in agriculture, down to a near zero scale of agricultural production. Surely, this neglect is because of irresponsible and ill-purposeful leadership. According to him “Nigeria, a nation believed to be one of the nations that have potentials to be great in the world because of her endowment with natural and human resources cannot un-

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leash her potentialities if the country does not gain self reliance and self sufficiency. Our country will perpetually remain a borrower and debtor nation in the face of the booming globalization exercise”. He said that Until Nigeria summons courage to invest and exploit its rich agricultural sector, our country cannot achieve economic and political independence. “More importantly, our present economically hazardous environment should be politically repositioned in order to harness the resources that a bountiful Agricultural sector can give birth to. Unless we invoke the spirit of agriculture in our national economy, our country will always remain the biblical ‘Jonah’ whose inability to self-actualize made him think he could keep deaf ears to the words of wisdom.” Egene said To the Director General standard organisation of Nigeria, SON, Dr. Joseph Odumodu this is the best time to strengthen Agriculture and industrial sector to boost non-oil exports and increase the country’s foreign exchange in the face of dwindling revenue from oil, adding that Nigeria is committed to making agriculture alternative source of income to oil . He said that the organisation had established food laboratory to support the government’s plan adding that the laboratory would enable the exporters of Nigerian agricultural produce to take advantage of the laboratory to certify their goods for international acceptance. The director added that after the produce would have been tested and certified in the laboratory, the internationally- accredited laboratory would not be able to reject them at the international market. Odumodu said the organi s ation would partner with states, local governments and farmers to ensure that products like cocoa, timber, cassava, yam, cashew, palm produce, rubber, groundnut and others enjoyed global reckoning . BC

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Monday, August 3, 2015

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News KRPC produces 2m litres of petrol daily, says MD

he Kaduna Refining and Petrochemicals Company, KRPC, on Friday said it was currently releasing two million litres of petrol daily into the market, as it resumed partial production. The Managing Director of the company, Mr Saidu Muhammed said this in an interview with the News Agency of Nigeria, NAN, in Kaduna. He said that the company, which was undergoing rehabilitation, would raise its production output to five million litres of petrol daily by March 2016. Muhammed disclosed that two of the company’s production lines had been rehabilitated, thereby facilitating the refining of about 60,000 barrels of crude per day. He assured that the KRPC’s production level would hit 90 per cent by the second quarter of 2016. NAN reports that the company has an installed production capacity of 110,000 barrels of crude per day. The managing director said rehabilitation work on the remaining two production lines of the company would be completed by March 2016. He, however, urged the Federal Government to safeguard the oil pipeline from Warri to Kaduna from activities of vandals in order to sustain production. According to him, vandalism remained a major threat to smooth transportation of crude to the refinery. Muhammed, therefore, advised the Federal Government to deploy military personnel to provide maximum security to pipelines in the area. NAN reports that the facility upgrade of the refinery, started in October 2014, was to cover 18-months. It was gathered that the work entails phased and simultaneous rehabilitation of all refineries in the country using in-house and locally available resources and manpower in line with the Nigerian Content Law. ``It also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.’’ The Nigeria National Petroleum Corporation, on Wednesday announced that the Port Harcourt and Warri refineries had resumed full production after the phased rehabilitation. Meanwhile, the KRPC boss said the resumption of production would open employment opportunities in both formal and the informal sectors as well as address the lingering fuel scarcity in the northern region.

L – R: Divisional Head and General Manager, MSMEs, Fidelity Bank, Ken Opara, Executive Director, Lagos & South West Bank, Ikemefuna Mbagwu and Executive Director, Shared Services, Chijioke Ugochukwu at a send forth party for Mbagwu who retired from Fidelity Bank July 31

NIPC asks states to provide land for investors

he Executive Secretary, Nigerian Investment Promotion Commission, NIPC, Mrs Uju Baba, has called on state governors to make access to land easy for investors to set up businesses in the country. The call is contained in a statement issued by Head Media and Protocol of NIPC, Mr Joel Attah. Baba, who made the call when she visited Gov. Idris Wada of Kogi, described acquisition of land as part of hindrances to the free inflow of investments in the country. The visit was in furtherance to create a synergy between the states and the commission in order to promote investments. “Investment potential is domiciled in the states and most investors who have indicated interest to invest in one sector or the other find it impossible to acquire land on time. “This is even after meeting all other obligations to set up their businesses. “Location of investment in the state will enhance the growth of the economy, create wealth and generate employment for the indigenes of the state,’’ she said. Baba called on the Kogi governor to advise investors com-

ing to the state to pass through the commission. She said the commission was the only agency with the legal framework for all investment related matters through registration of their enterprise, provision of adequate information, incentives and aftercare services. Baba urged the governor to work with the commission to promote the abundant investment opportunities in Kogi. She urged the governor to leverage on the commission in setting up a One Stop Investment Centre for Kogi. The News Agency of Nigeria ,NAN, report that Baba was in the state to witness the signing of Memorandum of Understanding between the state and Capegate Bio-Energy Company and Coza International for the building of a 30, 000 hectare comprehensive farm and downstream industrial park. In his response, Wada promised to collaborate with the commission and described NIPC as a senior partner in promoting and attracting investments into the states. He commended the NIPC boss for her gesture and said her presence would spur other investors to come to the state.

bly, Tambuwal said that 3,975 bags of fertilisers would be sold only to small-scale farmers. He said that the remaining would be sold to large-scale farmers, traditional and religious leaders, politicians, and civil servants who engage in farming activities. Tambuwal warned that the state government would not fold its arms and allow some unscrupulous and unpatriotic elements to prevent the genuine farmers from getting the subsidised commodity. According to him, the NPK and Urea brands will be sold to the farmers at the highly subsidised prices of N1,700 and N1,800 per bag, respectively. He, however, said that the commodity would be sold to all the beneficiaries on a ‘’cashand-carry’’ basis. The Caretaker Chairman of the local government, Alhaji Lamido Ardo, commended the state government for the gesture, and promised to ensure that only genuine farmers would get the commodity. The District Head of Bodinga, Alhaji Bello AbdulRa’uf, appealed to the farmers to reciprocate the gesture by producing more food for subsistence and sale.

Tambuwal warns middlemen against govt fertilisers

Guinness Nigeria commissions water health centre in Abeokuta

Baba

overnor Aminu Tambuwal of Sokoto State has warned middlemen to steer clear of fertilisers purchased by the state government. Tambuwal spoke in Bodinga Local Government Area on Friday when he inaugurated the sale of the 6,600 bags of NPK and Urea brands of fertlisers allocated to the council area. Represented by Alhaji Mainasara Ahmed, Permanent/ Clerk of the House of Assem-

Adejuwon Osunnuyi

uinness Nigeria Plc, has commissioned a water health centre in Adigbe community in Ogun State. The facility, which is situated within Abeokuta, the Ogun State capital, was formally unveiled, at a special commissioning event, by the Deputy Governor of Ogun State, Her

Excellency Chief Mrs Yetunde Onanuga. The event was also attended by other key stakeholders including: the Acting Consular General of the United States Consulate, Mrs. Dehab Ghebreab, representatives of Water Health International and members of Adigbe community. The water facility consist of a borehole and an ultramodern water treatment unit, such that the water in the facility goes through a six stage purification process to remove organic matter, excess chlorine, bad taste, dirt, unwanted materials, dissolved inorganic solids, disease carrying bacteria and pathogens etc. The facility is capable of providing 2700 litres of clean water hourly. Speaking at the event, the Corporate Relations Director, Guinness Nigeria Plc, Mr. Sesan Sobowale said the construction of the facility is in furtherance of Guinness Nigeria’s commitment to helping Nigerians access clean drinking water. He said, “Many Nigerians still do not have access to clean drinking water; in response to this situation, we have leveraged our flagship “Water of Life” programme to increase the number of Nigerians who have access to clean and safe water. “Under the aegis of the ‘Water of Life’ programme, Guinness Nigeria has so far constructed water facilities in 22 communities across 14 states of the country. We are pleased to note that through these water projects, we have helped thousands of Nigerian families access clean water, and ultimately improve their overall health and wellbeing”. Also speaking at the event, the Governor of Ogun state, represented by his deputy, Mrs Yetunde Onanuga praised Guinness Nigeria for implementing impactful programmes that help address the challenge of water shortage in Nigeria. She noted that the construction of the water facility exemplifies the positive results derivable from collaborations between corporate organisations and their host communities.

Shareholders advise SEC on e-dividend payment

ome shareholder groups have said that e-dividend payment platform recently unveiled by the Securities and Exchange Commission, SEC, to eliminate unclaimed dividends could worsen cases of fraud, if not properly managed. They told the News Agency of Nigeria, NAN, in separate interviews in Lagos that the

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Business Courage

Monday, August 3, 2015

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Companies & Markets

Sterling Bank, Dana Motors partner on auto finance deal Stories by Udo Onyeka

Yemi Adeola, MD, Sterling Bank

terling Bank Plc and Dana Motors Limited yesterday signed an auto lease agreement that will make it easy for customers of the commercial bank to acquire Kia brands of vehicles in the country. Both organisations said the arrangement is part of a 90-day promo that commenced last week. Dana Motors is the sole distributor of the Kia brand of vehicles in the country. Head, Consumer Banking, Sterling Bank, Mr. Gbenga Adegoke, explained that the partnership also ensures that Sterling Bank customers acquire vehicles at convenient and affordable

rate. In addition, Adegoke said the scheme also goes with prepayment of insurance premium, free car registration, free fuel vouchers, full fuel tank at pick up of the vehicle, free services, inclusive of parts and labour, free tracker and a five year warranty. Its other features include a 20 per cent minimum equity contribution, 48 months tenor, low interest rate among others. “We considered the impact of inflation on the scheme and made sure that the interest rate is very low. The partnership with Dana Motors was borne out of the bank’s desire to provide auto consumers with an auto finance campaign that allows them to acquire Kia brands of vehicles with

simplicity. “The auto finance campaign comes with attractive interest rate and loan that allows convenient and flexible repayment. The auto campaign will be in place for 90 days,” he said. Head, Marketing, Kia Motors, Jimoh Olawale, said Dana Motors went into the arrangement with Sterling Bank becuase the financial institution “is known for its customer-focused promotions.” “This is to ease vehicle repayment for our customers. The vision of Sterling Bank and Dana Motors aligns and we are trying to make sure that our customers get the best from the promo,” Olawale added.

He further revealed that the auto manufacturing firm had invested in a modern state of the art workshop in Nigeria, built exactly to Kia quality standards that would ensure efficient and speedy after sales service. “The maintenance of these are relatively affordable due to availability of spare parts and auto workshops in various outlets of Dana Motors nationwide. The Kia brand has a warranty of five years,” he added. Also, the bank’s Head, Retail Assets (Individual), Mr. Ayodele Fischer, said the promo is targeted at high net worth individuals, the self employed, those that earn salary and other professionals. BC

Union Assurance grew total assets to N12bn

nion Assurance Plc grew its total assets by 36.97 per cent from N9.98bn in 2013 to N12.30bn in its 2014 financial year end. Moreover, its Shareholders fund soar by 62.26 per cent to N5.29bn in 2014 as against N3.26bn it was in the previous year, even as the company’s gross premium written increased by 6.54 percent to N3.91bn from N3.67bn within the period under review. On the other hand, Union Assurance reinsurance expense was down by 14.70 percent to N827.27m in 2014 from

N969.87m the previous year. Underwriting expenses jumped by 14 percent to N1.71bn in 2014 as against N1.50bn in 2013. Union Assurance is intensifying paying claims to clients as its claims ratio was 38.61 percent one of the highest in the industry. Claims expenses in the period under review was N1.51bn, 7.85 percent increase from N1.4bn the corresponding period, even as the company’s net premium income hit N3.12bn in 2014. Earlier, Greenoaks Global Holdings Limited, injected $21.80m ,N3.7bn, into Union

Assurance balance sheet in order to strengthen its operations to make it a force to reckon with in the country’s insurance industry. It, however, last year, successfully consummated the acquisition of Union Assurance Company Plc from Union Bank of Nigeria Plc for an agreed sum of N7bn. The additional capital injection ensures that the company is operating beyond the stipulated solvency margin by NAICOM in addition to its being better positioned to effectively execute improved and impactful underwriting services. BC

Dell unveils new product in Nigeria Isaiah Erhiawarien

nformation and Communications Technology, ICT, company, Dell has unveiled one of its latest products in Nigeria at a breakfast event organized for Chief Information Officers of organisations in Lagos. According to the company, the offerings come with standard-based systems which do not lock users solely to its platforms, thereby providing users with an open approach ecosystem, flexible scaling and modular systems as well as end-to end-solutions. Speaking on Dell’s differentiated offerings at the event, the Enterprise Product Manager, Dell, Mr Shams Hassan, stated that Dell has lots of differentiated products in the areas of networking and storage. Hassan said: “Dell is not only into laptops and desktops as most people believe; Dell is also a very strong player in server and storage as well as networking.” He added that the peculiarity of Dell’s offerings in these spac-

es is evident in the users’ open access to other vendors, unlike competitors whose platforms are not shareable. Showcasing Dell’s solution in storage and networking, Hassan stated that PowerEdge VRTX integrates servers, storage, networking and management into a single office-optimized chassis and delivers greater simplicity, efficiency and versatility. He noted that VRTX’s Chassis Management Controller, CMC, resolves the problems of systems management tool pro-

Hassan

liferation and complexity with converged management of server nodes, shared storage, networking and power in a unified tool, all in a single console. Country Manager, Dell Nigeria, Mr Akin Banuso, spoke on Dell Precision Workstations, which he referred to as the continuous evolution of technology that helps to boost productivity by integrating latest industrystandard technologies into a highly-reliable platform. In his words, “Dell understands that downtime is costly. That is why we strive to provide a workstation you can depend on, day-in and day-out. Should a problem arise, Dell has the expertise and services to minimize your downtime and get you back up and running quickly”. The participants expressed satisfaction with Dell’s offerings, especially in providing efficient and effective end-to-end solutions which help organisations run well, while also charging the company to do a lot more in the creation of awareness for its effective solutions. BC

Ifie Sekibo, CEO, Heritage Bank

Heritage Bank pledges support for female entrepreneurs

eritage Bank has again assured female entrepreneurs in the country of its willingness to partner with them to strengthen their role as major drivers of national economic growth. National economic growth, the bank observes, can only be achieved where the role of women as co-pilots in the economic management of a nation, as refined major stakeholders in the society, as silent driving force in any country and as lives shapers, is fully recognized. Speaking at the 2015 edition of the Role of Women in Emerging African Democracies ,ROWEAD, roundtable in Lagos, Group Head, Manilla Banking, Heritage Bank, Babajide Adetowubo, said the Bank sponsored and partnered with ROWEAD on the Roundtable Initiative as a demonstration of its commitment to supporting female entrepreneurs to change the economic landscape of the nation. Mr. Adetowubo also explained that the previous administration at the federal level had set

out to empower women through the setting up of a special fund by the Central Bank of Nigeria to build SMEs. “This fund is about women empowerment, to support women entrepreneurs; those who want to start up a business or women that have existing businesses and want them to grow”. He added that Heritage Bank Nigeria has continued to partner with CBN to ensure funds are disbursed appropriately to their beneficiaries. He promised that the recent acquisition of Enterprise Bank would further give Heritage Bank more coverage to be able to deliver more on its core values. “Under the leadership of a team with outstanding talent and high performance consistency, Heritage Bank is poised to further demonstrate its commitment to ensuring wealth creation, preservation and transfer across generations, especially through stronger partnership with female entrepreneurs who are the engine room of national economic growth”, he stated. BC

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Monday, August 3, 2015

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Companies & Markets

CWG turnover hits N8.6bn in six months C

omputer Warehouse Group has declared a revenue of N8.6bn for the six months ended June 30, 2015, compares to N8.4bn recorded in the same period of 2014. However, business margins were squeezed from 20 per cent in 2014 to 14 per cent in 2015, as the company was unable to fully pass increased costs to her customers. Analysis of the second quarter result shows a seven per cent increase in operating expenses to N1.4bn in the review period, from N1.3bn recorded in the corresponding period of 2014, due largely to one-off restructuring expenses taken by the company. According to the result presented to the Nigerian Stock Exchange, loss before tax stood

at N350m, a reflection of the continued difficulty of the Nigerian business environment in 2015. With a significant segment of the company’s business dependent on international procurement, the difficulties of foreign exchange sourcing had a negative impact on the results. Specifically, the result was affected by the recognition of foreign exchange losses of N277m and the write-off of N103m, arising from the cancellation of a transaction duly recognized in the fourth quarter of 2014. However, the company finished with a strong cash position of N1.3bn at the end of the quarter. The company’s Executive Director, Finance and Operations, Mr. Kunle Ayodeji, noted that the business environment

remains very challenging, with many organisations holding back on new capital expenditure and investments, as the economic direction of the new government is being observed. He explained that the company is making a shift towards recurrent and subscription businesses which are more predictable, have increased margins and are less dependent on macroeconomic challenges, especially those arising from foreign exchange. It should be recalled that the Founder and Chief Executive Officer of the company, Mr. Austin Okere, had recently highlighted the yields from the company’s subscription business model which started in the second half of 2015 and the products being better positioned to withstand macroeco-

Prestige Assurance records N2.5bn gross premium

restige Assurance Plc said it recorded N2.5bn gross premium in its 2014 financial year end, despite the harsh operating environment. The Chairman, Prestige Assurance Plc, Mr. G. Srinivasan, who disclosed this at the Annual General Meeting, AGM, of the firm in Lagos noted that the company continues to improve on its prompt claims payment policy with the sum of N1.93bn payout in 2014. Srinivasan disclosed that its company’s reinsurance expenses stood at N1.5m. According to him, the Profit after Tax, PAT, for the year was N14.18m, with Profit before Tax, PBT, standing at N176. 7m, even as its Total Assets remained N11.89bn. “We shall continue to do all that is necessary to attract the best professionals from within and outside the insurance industry to complement the excellent work of the existing staff so as to deliver quality service that would add value to shareholders of this company. Indeed our staff, no doubt has been our greatest asset and their loyalty and commitment are highly appreciated by the board and management,” he said. The global economic crisis, he noted, has also created tremendous opportunities for business growth and development, adding that Prestige Assurance sees opportunities and not challenges and as such are prepared to widen its business horizon to deliver quality return to shareholders. He stated that there is no doubt that there are great potentials for the insurance industry in Nigeria, particularly with the various initiative that the regulator - the National Insurance Commission, NAICOM, adding that trade association have been put in place to bring sanity into the

industry as well as policies that are needed for business to thrive. According to him, “However, our company has positioned itself to succeed in a vibrant financial market and more importantly in insurance sector by introducing new products and processes that guarantee good return on investments. No stone will be left unturned to build financial supermarket that delivers quality services and generate more profits to our loyal and esteemed shareholders.” In the same vein, the Managing Director, Prestige Assurance, Mr. Balla Swamy, said his firm has migrated to cloud in a renewed vigor to providing excellent on-line-real-time services. To this end, he said the firm is accessible via cloud computing whereby large group of remote servers are networked so as to allow sharing of data-processed tasks, centralized data storage, and online access to computer services or resources via the browser. In support of the local content in Nigeria, Prestige said it is finalising Reinsurance programme for

nomic shocks. He said, “The products under the new business model include the CWG-SMERP, the cloud based Enterprise Resource Planning, ERP, product for SMEs, the award-winning Openshopen.ng which is an eCommerce technology platform. “The company’s CWG-SES Teleport Services providing digital satellite broadcast, cloud solution for micro finance institutions in partnership with MTN ,dubbed MTN XaaS, CWG’s Mobile Financial Services in partnership with CIT Vericash, Finedge Solution, which has powered Diamond Yello Account ,DYA, electricity theft detection & prevention systems, and CWG’s IGR Solution for States amongst others”. Okere reiterated that the company’s future looks promis-

ing as the products under her subscription business model are well positioned to soar above macroeconomic shocks, especially foreign exchange fluctuations that affect businesses generally. BC

FBN Holdings appoints Ahmad Board member

Srinivasan

oil and energy treaty to the tune of US$ 10 million covering Nigerian Oil & Energy risks both on shore and off shore and US$ 5 million for Aviation. “In pursuant to the positive impact of good corporate governance structure in every forward looking organization, the company remained committed to the principle that promotes good Corporate Governance hence there is constant review of processes and practices to ensure compliance with the legislative and best practice changes in the the global corporate governance environment,” he pointed out. BC

BN Holdings has announced the appointment of Mr. Muhammad K. Ahmad to its Board as a Non-Executive Director. According a press statement this appointment, apart from deepening the already rich cumulative experience of the board, is also in strict compliance with the Central Bank of Nigeria’s. The CBN guidelines for Licensing and Regulations of Holding Companies in Nigeria require that the aggregate number of directors from the subsidiaries and associates at any point in time shall not exceed 30 per cent of the membership of the Board of Directors of the financial holding company. “The appointment, subject to CBN approval, brings the total number of Board Members of the Holding Company to 10. “Mr. M. K. Ahmad is a seasoned public sector executive with over 35 years of distinguished experience spanning the public sector and the financial services industry. He served

Ecobank Nigeria announces Board changes

cobank Nigeria has elected Mr. John Oche Aboh as its board Chairman. Mr. Aboh who was recently appointed to the Board as a Non-Executive Director, brings with him a wealth of experience in management in the financial services industry, professionalism and integrity that has earned him global respect. Mr. Aboh has over 30 years work experience in the banking industry; working at senior management and Board levels in large Nigerian banks, such as Citibank, UBA, Wema Bank, First Bank of Nigeria and for-

Okere

mer Oceanic Bank International. He holds a B.Sc in Finance from the University of Nigeria, Nsukka, an MBA from the University of Jos and an AMP from the Harvard University, Boston Massachusetts. He replaces Mr. Sonny Kuku, who recently retired from the Board after over 11 years, five of which was as Chairman. Kuku is one of the founding members of the Ecobank Group and his tenure as Chairman the Bank made remarkable progress in growing its market share by rising from the number 13 industry posi-

tion in 2010 to number six in 2015. He is leaving the Board on a solid footing as one of the leading banks in Nigeria. Also Mallam Garba Imam has being appointed as a NonExecutive Director of the bank. Mallam Imam has extensive banking experience having served in different capacities in several banks, including NAL Merchant Bank, Sterling Bank and Enterprise Bank. He is a Fellow, Chartered Institute of Management, UK. Fellow, Institute of Credit Administrators, Honorary Senior Member,

as the pioneer Director General and Chief Executive Officer of the National Pension Commission, PENCOM and oversaw the growth of the pension industry in Nigeria from ground zero to a N4.7trn Asset Under Management industry. He was also a pioneer staff of the Nigeria Deposit Insurance Company, NDIC, where he rose to become a Director. M. K. Ahmad has served on the Board of various companies and committees including banks and not for profit organisations”, the statement said. BC

Ahmad

Chartered Institute of Bankers, Member, Institute of Directors and a Member of Bank Directors Association of Nigeria. Mallam Garba Imam holds a B.Sc, Hons, Degree in Sociology and also a Masters of Social Science from Brimingham University United Kingdom. Other changes include; the retirement of Alhaji Muazu Anache and Mr. Orikolade Karim. Alhaji Anache a pioneer investor in the Ecobank Group is retiring as a Non-executive Director after nine years of dedicated service and commitment to the ideals of Ecobank. BC

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Business Courage

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

Global News Eurozone inflation and unemployment hold steady in July

nflation in the eurozone held steady in July, as falling energy prices offset rises in industrial goods. The annual inflation rate stayed at 0.2 per cent, according to the flash estimate from the EU’s statistics agency Eurostat. Energy prices fell 5.6 per cent, compared with a 5.1 per cent drop in June. Food, alcohol and tobacco prices rose 0.9 per cent. Eurostat also said that the unemployment rate was unchanged at 11.1 per cent in June, for the third month. James Howat, European Economist at Capital Economics, said the figures were not positive: “Worryingly, surveys of employment intentions have weakened recently, suggesting that the labour market recovery will remain pretty weak.” He also pointed out that the ECB still has a lot of work to do to hit its inflation target of “below, but close to, 2 percent”. In March, the ECB began a massive €1.1 trillion bond buying programme in an attempt to stimulate the eurozone economy. Policymakers spent much of last year in fear of deflation. The worry is that if price falls become entrenched, consumers and businesses will delay purchases and investment in the expectation that prices will fall further.

US economic growth picks up to 2.3%

he figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6 per cent in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices. Analysts said the figure could make the US Federal Reserve more likely to raise interest rates in September. The 2.3 per cent annualised growth rate is equivalent to 0.6 per cent growth quarter-onquarter, as measured in most other countries. For example, on Tuesday, official figures showed that the UK economy grew by an estimated 0.7 per cent in the April-to-June period from the previous quarter. “Updated GDP numbers deliver a double-punch to US economy doom-mongers, painting a reassuringly bright picture of the health of the US economy so far this year and raising the odds of the Fed hik-

ing interest rates in September,” said Chris Williamson, chief economist at research firm Markit. The 0.6 per cent annualised growth rate for the first quarter of the year was an improvement on the previous estimate of a 0.2 per cent contraction. Consumer spending - a key driver of the US economy grew at a rate of 2.9 per cent in the second quarter, compared with 1.8 per cent in the first three months of the year. Recent figures have shown the US economy creating more than 200,000 jobs a month, and the unemployment rate has now dropped to 5.3 per cent. “The improving job market, alongside the boon to households from low inflation and falling oil prices, has been key to the economy’s ability to sustain strong growth,” Mr Williamson said. The latest figures fit with the pattern seen since the recession ended six years ago: weak growth at the start of the year, followed by a rebound in spring and summer. But the annualised growth rate for the second quarter was weaker than the 2.7 per cent expected by economists and overall, the recovery has been slow. The Commerce Department also downgraded its estimates for US growth between 2011 and 2014, saying the economy expanded at an average annual rate of 2 per cent rather than the 2.3 per cent previously forecast, underlining the tepid expansion. “The pace for growth remains extremely weak by past recovery standards, but with potential growth weaker as well, it appears to be more than sufficient to keep the unemployment rate coming down,” Jim O’Sullivan, chief US economist at High Frequency Economics, said.

US Fed moves closer to rate rise this year

he US Federal Reserve has indicated it is more positive

Yellen

on the US economy, confirming views it is likely to raise interest rates this year. The US central bank said it had unanimously agreed to keep rates at close to zero this month, but believed the economy was on a stronger footing. “Economic activity has been expanding moderately in recent months,” it said in a statement. But it still did not give a clear indication of when rates would rise. In its statement, the Fed noted that the job market, housing and consumer spending had all improved. The central bank’s policy makers also said they expected inflation to rise gradually toward its 2 per cent target. On employment - which is now at a seven-year low of 5.3 per cent - the bank said job gains had been “solid”, more positive language than last month. But it again reiterated that it would only hike its benchmark interest rate “when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective”. The Fed’s decision to keep its main interest rate on hold this month had been widely expected. “The bottom line is they didn’t do a lot. “But they’ve nudged the market in the direction of a 2015 rate hike. And it’s increased our confidence in a September rate hike,” Millan Mulraine, deputy head of US strategy at TD Securities told the BBC. Barclays economist Michael Gapen said that he also still expected a rate rise in September, which he said remained the bank’s “baseline forecast” And Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds, said the statement confirmed the Fed was “taking baby steps” towards an increase. The interest rate has now been at a record low for six and a half years. The US central bank’s decision to cut the rate to such a low level in December 2008 was aimed at boosting growth in the economy amid the global financial crisis. Most analysts expect the first hike in September, but Federal Reserve chair Janet Yellen has emphasised that any increase will be determined by the latest economic data. She has also said that when rates do begin to rise, the increase will only be gradual. US stock markets, which were up ahead of the Fed’s decision, continued to trade higher after the decision.

Hu Jintao, China president

China shares see worst month in six years

ainland Chinese shares ended July with their biggest monthly loss in nearly six years. The Shanghai Composite Index closed down 1.1 per cent at 3,664, losing 10 per cent over the week and more than 14 per cent for the month. The government took further action to calm the market on Friday with a crack down on automated trading. It restricted 24 trading accounts in which it had detected what it called abnormal bids, moves it described as malicious selling. Hong Kong’s share market headed in the opposite direction, with the Hang Seng index finishing up 0.6 per cent to 24,636.28 points. Investors are looking ahead to China’s official manufacturing data, which is expected to be released over the weekend. A private manufacturing report last week showed a surprise drop, prompting a plunge in mainland China’s shares earlier this week.

Merkel

Greek debt crisis: IMF wary of third bailout

he International Monetary Fund (IMF) is very wary of any financial contribution to a third Greek bailout. The implication of remarks by an IMF official is that it is very unlikely to provide funds

at the first stage. The fund could, however, join in later, provided both the eurozone and Athens take steps to address IMF concerns. The problem for the IMF is that its staff believe the elements so far agreed are not enough to make the Greek government’s debt sustainable. Negotiations are under way and the IMF is involved. But its staff think the eurozone governments need to give Greece debt relief. That does not have to be in the form of explicit reductions in the outstanding debt. It could mean longer repayment terms and delays before any payments are required - socalled grace periods. The eurozone has insisted that it is only prepared to look at the possibility after Greece has made a start on implementing whatever conditions will be agreed. The IMF official also said Greece needs to commit itself to further reforms if it is to make the debt situation sustainable. He didn’t spell out what they were. But they will involve reforms to the government finances to control spending and maintain tax revenue. They will also cover what are called structural reforms, to remove barriers to economic growth. Faster growth would generate more tax revenue to help make the debt situation sustainable. Neither Greece nor the eurozone are ready to take those steps, the official suggested. The implication then is that Greece and the eurozone will find it very hard to persuade the IMF to stump up any cash at the start, though it might be willing to do so if there is debt relief and further reform later. The immediate significance of the IMF’s position is political. If the bailout talks do produce an agreement to provide financial assistance from the eurozone bailout agency, the European Stability Mechanism (ESM), it will still need approval by some parliaments, including Germany’s Bundestag. Many members, including some from Chancellor Angela Merkel’s own party, are very unhappy about a third bailout for Greece. There is a much better chance of persuading them to acquiesce if the IMF is on board. Financially, the IMF is less critical. It is the eurozone that has provided the great bulk of the resources for the first two bailouts and would do so with the third. It could afford to find the full expected €86bn (£60bn) if really necessary. The ESM has the capacity to make €455bn of new loans at present. The political roadblock erected by the IMF is more difficult. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, August 3, 2015

A9 25

Brand Watch

Walmart to invest in Nigeria

Stories by David Audu

almart, American owned global multinational retail corporation with a chain of departmental and warehouse stores, is considering having business presence in Lagos, Nigeria. This was made know in Lagos on Thursday when a powerful delegation of the company paid a courtesy visit to the Governor of Lagos State, Mr. Akinwumi Ambode in his office. Speaking during the visit to the Governor, head of delega-

tion, Shelley Broader, acknowledged the investment opportunities that abound in the state, adding that the Group was ready to expand its business horizon and create jobs for the people. “We are incredibly excited and proud to be in this exciting state of Lagos. Just looking at the burgeoning economy and at the growth in this market is very exciting and now Walmart operates around the world in 28 countries and our mission is to lower the cost of living, to help people save and live better” she

Terragon Group unveils new mobile solutions

n line with its company-wide vision and promise to make mobile meaningful, Digital Media company, Terragon Group unveiled two of its latest offerings at the just concluded Techplus Conference and Exhibition. One of the unveiled solutions, tmoni, is a product born out of the Group’s longstanding relationships with Mobile Network Operators in Nigeria. Speaking at the event, Tmoni Product Manager, Tunde Adeniran, said that as a mobile operator billing solution, it enables content developers and aggregators effectively monetize digital content, goods and services from over 80 million mobile internet users in Nigeria. “Content Developers and OEMs can now monetise previously hard to reach demographics as they expand into a fast growing and emerging market. Its benefits include better conversion rates on mobile, flexible price points and cross-platform integration,” he said. The other unveiled solution by the Group is hinged on the Group’s mobile advertising business - Twinpine Limited. Simply tagged Twinpine Performance Advertising, TPA, it allows advertisers pays only when there are measurable results from their online mobile campaigns. “Twinpine Performance Advertising provides advertisers with opportunities in real-time measurement and optimization,” explained Eniola Moronfolu, Product Manager, TPA. She added, “The overall intention is to allow advertisers drive consumer action, thereby going beyond awareness to creating great experiences for mobile users and give brands prime positioning.” The Techplus Conference and Exhibition was held recently in Lagos. It is a technology platform designed to connect manufacturers, software and hardware companies, content developers, amongst several others, offering

Moronfolu

a window of opportunities that promotes the use of technology in everyday life. Terragon Group joined other notable brands in the industry such as MTN Nigeria, Samsung, Jumia, Huawei, Uber, Google, amongst others, as sponsors of this year’s edition of the Conference themed ‘Leadership in Digital Technology’. BC

said. “The passion that you feel right when you land at the airport, there’s an excitement here. You can feel that this is a state within a country really on the move forward. There is a smile on the people’s faces; there is eagerness and there’s a mission that they are on to better themselves and their families. It’s very exciting” The Governor assured the delegation, led by the President and Chief Executive Officer of Walmart Europe, Middle East, Africa and Canada, Shelley

anaging Director of TBWA Concepts, Mr. Kelechi Nwosu has been re-elected president of the Association of Advertising Agencies of Nigeria, AAAN, during its 42nd Annual General Meeting/ Congress held in Osogbo, Osun State recently. With the theme “Nigerian Advertising, What Next?” it featurrd keynote speakers such as Mr. Dele Anifowoshe, General Manager, Brands, Airtel Nigeria and Mr. Lanre Adisa, Managing Director/CEO, Noah’s Ark Communications Limited. The AGM provided a platform for a robust discourse on the theme of the AGM/Congress. The highlight of the event was the election of new EXCO, a representative on APCON Council and the induction of new members. Delegates at the AGM reelected Mr. Kelechi Nwosu as the President of the Association. Others in the new executive include Mr. Kayode Oluwasona, Vice President; Mr. Shola Adegborioye, Treasurer; Mr. Ikechi

Broade, of the state’s readiness to support the firm in establishing its presence in the state. According to him, the presence of the Walmart brand in Lagos would not only be an incentive to job creation, but would also boost the economy of the state. He said the success story of the brand, which currently operates in 28 countries with over 2.2 million employees, would be beneficial to the growth of the state as well as his vision to make life comfortable for residents. BC

Broade

AAAN elects new Executive Committee members Odigbo, Publicity Secretary and Mr. Steve Babaeko as Assistant Publicity Secretary. Also on the board of the new executive council of AAAN are Mr. Tunji Olugbodi, Ex- Officio; Mrs. Bisi Afolabi, Ex-Officio; Mr. Demola Olusunmade, ExOfficio among others.

Nwosu

The 42nd AGM also withnessed the presentation of Membership certificates to three newly inducted members, namely Initiative Media Limited, 7even Interactive Media and Agile Communications Limited. The AGM/Congress was declared open by Alhaji Gboyega Oyetola, the Chief of Staff to the Governor of Osun State, who also represented the Executive Governor of Osun State. Other distinguished senior practitioners in attendance include APCON Chairman, Mr. Udeme Ufot, the Association’s Board of Trustees Chairman, Mr. Ayo Owoborode, Mr. Funmi Onabolu, etc. The three-day event was rounded off with a dinner with His Excellency, the Executive Governor of Osun State, Ogbeni Rauf Aregbesola, at the Government House. BC

PRCAN, Cihan Group set for digital PR workshop

three-day seminar tagged, “Digital PR and Social Media Communications Master Class”, organised by a digital marketing consulting firm, Cihan Group in collaboration with the Public Relations Consultants Association of Nigeria, PRCAN, will hold in September this year in Lagos. Founder and Chief Executive Officer of Cihan Group, Mr. Celestine Achi, said the workshop, which is the first-of-itskind in Nigeria in the social media era, will focus intensively on a set of competencies. “The capacity building initiative is designed to develop practical and enduring expertise covering the full range of concepts, skills and platforms required to unlock the power of the digital media to support individual’s reputational goals.” According to Achi, who is a

new media expert, workshop participants would learn to create Digital PR strategy, engage social enterprise, provoke multimedia buzz, utilise digital PR tools, optimise online space for search and excel in digital crisis communications. The modules are carefully planned and designed for communications, public relations

Ehiguese

and marketing professionals whose roles include engagements with stakeholders through online social media, while learning is pitched at a level to help individuals develop strategic approaches and sophisticated techniques. To facilitate hands-on learning, each participant is expected to come with a wi-fi enabled laptop or tablet. In the course of the workshop, participants will cover the core skills and concepts of strategic Digital PR and Social Media Communications. At the end of the training programme, participants are expected to go home with Digital PR certificates from PRCAN, free access to Cihan Digital Marketing tools, a social media strategy plan to integrate into each sponsoring firm’s marketing mix and one-month post certification digital PR support.

PRCAN president, Mr John Ehiguese said the professional group endorsed the workshop in line with its commitment to the deepening of knowledge of its members and public relations professionals on the client side. “In this digital age, it is imperative to Acontinuously update the skills of those charged with the responsibility of managing communication with diverse stakeholder groups,” Ehiguese stated. With assurance to deliver quality training during the three-day event, Achi who is also the Chief Digital Marketing Strategist of Cihan Group, is leading a team of experts in their own rights to the workshop. They include Mr. O. C. Vince, an award winning author, facilitator, public speaker, a certified trainer with no less than 15 years corporate experience and achievements in three continents. BC

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Business Courage

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

Energy Review Over the past decades, several billions of naira had been committed to Nigeria’s power sector with little to show for such investments in terms of availability of electricity for domestic and industrial needs. In this analysis, Gbenga Odogun takes a critical look at the issues affecting power supply in the country.

espite the indispensability of electricity in national development, Nigeria has been unable to meet its needs thereby undermining socio-economic agenda for sustainable growth. This lapse has prompted the growing calls by the experts for a new approach by way of exploring alternative sources of supply to complement the existing hydro and thermal power generation sources Available statistics indicated that Nigeria has the largest electricity supply-demand gap amongst major developing economies globally. Currently, even when the country can explore power from four different types natural gas, oil, hydro and coal, its electricity generation capacity has been very low, peaking at 4,500 megawatts for the past decade. Analysts believe that one of the major reasons for the nation’s inability to bridge the electricity supply-demand gap is traceable largely to the overdependence on the petroleum sector and total neglect of alternative sources of energy. The shortfall of electricity leads to the overuse of generators for energy. It is estimated

Kainji Hydro-Electric Power Plant

Nuclear energy power plant

Exploring alternative energy sources for national devt

that about 30 percent of energy is produced in this manner. Currently the only plan the government has in place to help solve the energy crisis is to expand the fossil fuel burning sector. The effect of poor or inadequate power supply to the economy is well know, apart from social implication arising from mass unemployment, experts also believed that lack of electricity also causes problems for agriculture. Most irrigation lines are run by electricity, so when the power is cut out then the crop yield decreases.

Nigeria’s energy grid is arguably in crisis due to lack of development. The key to making a more reliable energy sector is to find and use renewable energy resources, rather than simply relying on the country’s non-renewable resources. The crisis of energy is a complex problem stemming from a variety of issues. . Today, 60 to 70 percent of the Nigerian population does not have access to electricity. “There is no doubt that the present power crisis afflicting Nigeria will persist unless the government diversifies the energy sources in domestic,

commercial, and industrial sectors and adopts new available technologies to reduce energy wastages and to save cost said Sunday Olayinka Oyedepo of the Department of Mechanical Engineering, Covenant University. Oyedepo said “Energy efficiency leads to important social benefits, such as reducing the energy bills for poor households”. “From an economic point of view, implementing the country’s renewable energy target will have significant costs, but these can partly be offset by selling carbon credits according to the rules of the ‘Clean Development Mechanism’ agreed some 10 years ago, which will result in indirect health benefits” he said. According to the World Commission on Environment and Development ,WCED, the importance of sustainability in energy is: the ability to preserve its use, the importance of energy in living standards and for economic development and the significant impacts that energy systems and processes have had and continue to have on the environment. Nigeria needs to invest in sustainable resources because of the obvious signs

that it will be strongly impacted by environmental change such as: desertification, droughts, flooding, and water shortages. The biggest blow to Nigeria would be the low lying areas that contain many of their natural resources being flooded if ocean levels rise as predicted. Experts believe that since further development of hydro-electricity does not seem practical because of the dependence on the seasons for amount of water supply, wind energy has potential, but is unreliable for consistent energy supply; nuclear energy could be a viable solution to the energy problem because of its lack of emissions and reliability. Nigeria also has easy access to the uranium needed for the plants. There is a lot of literature surrounding different proposals of what might be done to help Nigeria develop their potential for renewable electricity. Development of the renewable sources energy is important for the future of world. Nigeria has been in an energy crisis for a decade despite numerous attempts to reform the energy sector, the only thing that remains is to figure out which energy source is most effective. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, August 3, 2015

A15 31

ThebuddingEntrepreneurs KLINIC

With Mamora Victor Mamora is a system thinker and advisor whose belief and activator leadership strengths are directed towards improving workers perspective for city and enterprise development.

e-mail: olusegunmamora@gmail.com

ometimes ago, the farm of a certain rich man produced a tremendous harvest. He said to himself: ‘What can I do? My barn isn’t big enough for this harvest.’ Then he said, ‘Here’s what I’ll do: I’ll tear down my barns and build bigger ones. Then I will gather all my grain and goods, and I will say to myself, you have done well! You have it made and can now retire. Take it easy and have the time of your life!’ Just then, God showed up and said, ‘Fool! Tonight you will die. And your barnful of goods—who gets it?’ That’s what happens when you fill your barn with self and not with God. Dear entrepreneur, self centeredness is a quick way to private and business ruin. There is no self made person anywhere. Your team members that wake up daily to make sure that your business function exactly as you desire are core part of your success story, acknowledge them. The land and resources you use for business operation are creation of God; therefore, you should acknowledge this truth. Don’t you think that people will naturally exit a system where they feel unappreciated? People desire to be acknowledged for their contributions to any system and especially where they know that their efforts contributed to the success. They want to feel creditable for their effort. As an entrepreneur, failure to communicate appreciation to team members provokes dissatisfaction. It is factual that every successful entrepreneur does not rise and build business from nothing. They owe something to the creator of life, patronage of family, friends and especially the workers. There is need to

acknowledge this and communicate it often and effectively. Your accumulative advantage as a result of having the bright idea, sharing it with people who gave support, the workers who gave best despite low pay, and government who introduced policy that favours your idea make life easy. It is your season of favour, please acknowledge this. The accumulative advantage works in every system of life. In Biology class, the teachers of that course often talk about “ecology” of an organism and that the tallest oak in the forest is the tallest not because it grew from the hardiest acorn, it is the tallest because there is no other tree that stands against the sunlight that feed it with energy, the soil around it was deep and supply nutrients, the rain fall in appropriate measure while it was a seedling else it would have been washed off. The truth is that an average entrepreneur in any part of Africa comes from hardy seed. Most of them struggle to supply basic infrastructure that should have been put in place by the govern-

Acknowledgement improves business

‘

Don’t you think that people will naturally exit a system where they feel unappreciated? People desire to be acknowledged for their contributions to any system and especially where they know that their efforts contributed to the success. They want to feel creditable for their effort.

ment for the growth of business. But do we know the sun that warm them as a form of counsel from friends or books read, and the just enough rain for the startup to grow into business as a form of workers who sacrifice to show up without regular salary? Entrepreneur success does not come without the support and sacrifice of some people who usually are later and often despise. That is where the challenge of sustaining success starts. My objective today is to remind you that business success is sustainable through truthful acknowledgement of divinity and people who supports. Life is easy for entrepreneurs who acknowledge and appreciate people for various supports in her success journey.

‘

BUSINESS

Acknowledge and appreciate these essential classes. First class: The G. Factor Every equation of success has an element of unexplainable factor that is beyond human control. The data that worked for you and did not work for your competition in the same business environment is not often a function of strategic application. The brilliant business plan that was put together by best brain and strategist with all favourable economic indicators and low risk element but eventually fail makes an entrepreneur humble. The reality is that many times data don’t put you on the path of success but intuition on what could work and against scientific facts

Motivational Business Quotes

ell, you know, I was a human being before I became a businessman. – George Soros

Leadership is the art of getting someone else to do something you want done because he wants to do it. – Dwight Eisenhower If you did not look after today’s business then you might as well forget about tomorrow. – Isaac Mophatlane The great accomplishments of man have resulted from the transmission of ideas of enthusiasm. – Thomas J. Watson Yesterday’s home runs don’t win today’s games. – Babe Ruth

Being able to touch so many people through my businesses and make money while doing it, is a huge blessing. – Magic Johnson Let us not look back in anger or forward in fear, but around in awareness. – James Thurber The trick is in what one emphasizes. We either make ourselves miserable, or we make ourselves strong. The amount of work is the same. – Carlos Castaneda The great leaders are like the best conductors – they reach beyond the notes to reach the magic in the players. – Blaine Lee BC

is a function of “G. factor”. God factor in business equation helps sharpen internal teaching irrespective of scientific facts. The smart thing to do is to acknowledge God for the help and not pretending to be smart. The idea could have been received and executed by another person. Second class: The Team Factor Everybody from the man at the gate, cleaner of office, front desk executive, material suppliers, drivers, production executive, administrative executive, accountant, marketing executive and to management board members makes your business function effectively. Whatever result you get in business journey is as a result of this class of people decision. If the man at the gate compromise his office chances are that you will lose businesses although the law may punish offender but the law usually don’t help rebuild damaged business image. My encouragement is to deliberately acknowledge the good input of this class, appreciate them and maximise your “Team factor” for business improvement Dear entrepreneur, success is achieving goal. The story I shared at the beginning of this article is about an entrepreneur who achieved his goal brilliantly but missed a great point. He only focus on himself and did not acknowledge anybody and including enjoying the benefits and profit personally. It was a selfish goal and it kills. The life of entrepreneur is too small to be the purpose of the business. It is about consumers, the people who work with you, and God who owns all resources. Be smart and be courageous to improve. BC

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Business Courage

Monday, August 3, 2015

National Mirror www.nationalmirroronline.net

REGULATORS

NAICOM announces Market Conduct Guidelines I

nsurance industry regulator, the Nigeria’s National Insurance Commission, NAICOM, has made public guidelines for Market Conduct and Business Practice for all Insurance institutions in the country. The Commissioner for Issurance, CFI, Mr Fola Daniels, represented by the Director of Authorisation and Policy Directorate, NAICOM, Mr Piu Agboola, presented the guidelines at the 2015 Maiden Insurance Mega Conference in Abuja. The CFI said the commission was releasing the guidelines in exercise of the power conferred on it by provisions of section 49

(1) of National Insurance Commission Act 1997. According to Daniel, the release of such guidelines is the beginning of Risked Based Supervision in Insurance Industry of Nigeria. He said the guidelines were partly an extract from the World Bank Risk Based Supervision. Daniels said the guidelines, among others, set out the framework for fair policies procedures and effective claims management. They also include trade practices and fair treatment of customers, operations, pricing, commission and associated returns

as well as foreign facultative reinsurance placement by brokers. Others are appointment, operation, expansion and documentation, registration requirements, accounts, returns and International Financial Reporting Standard harmonisation. According to Commissioner some of the objectives of the guidelines are to set out minimum standards required from insurance institutions in their dealings with clients, policy holders and shareholders. “It is meant to established strong market conduct among practitioners and stakeholders and serve to reduce mistrust

South west still dominates microfinance banking - NDIC

t seems microfinance investors are only interested in the South West market, as the region remains the one with highest concentration of MfBs in the country, despite pleas from relevant stakeholders to investors to invest in some areas that have less concentration of Microfinance Banks,MfBs. The latest 2014 financial report of the Nigerian Deposits Insurance Corporation ,NDIC, made available shows that majority of the MfBs in Nigeria continues to be concentrated in the South-Western part of the country with 313 MfBs, representing 35.49 per cent of the total micro banks in operation. This, it said, was followed by the South-East and NorthCentral with 166, representing 18.82 per cent and 160, representing 18.14 per cent MfBs respectively. The North-West had 104, representing 11.79 per cent MfBs, while the SouthSouth and North-East had the least number of MfBs with 101, representing 11.45 per cent and 38, representing 4.31 per cent, respectively, it noted. Experts have, on several occasions, called on investors to set up MfBs in the North, a region with low micro banks presence, but these investors continue to see the South West region as their best market, because of economic opportunities there in. While highlighting the challenges of the microfinance sub sector in 2014, NDIC listed them to include; weak capital base, poor asset quality, lack of microfinance banking knowledge and experience, high operating costs, scarcity of loanable funds, low literacy level, inadequate management information system, and poor corporate governance practices. Meanwhile, NDIC said it recovered a sum of N127.64m from the debtors of the defunct MfBs in the country. The Central Bank of Nigeria, CBN, had in 2014, closed 83

MfBs for their inability to carry out their civic responsibilities and equally handed them over to NDIC for liquidation. NDIC thereafter sold the assets of the defunct microfinance banks and quickly went after the debtors of the failed banks of which it was able to recover the aforementioned amount. According to its 2014 annual reports, “The cumulative recoveries from the debtors of the DMBs and MfBs as at 31st December, 2014 were N26.75bn and N127.64m compared to N25.31bn and N44.98m, respectively, as at 31st December, 2013.” During the period under review, the corporation said the number of microfinance banks increased from 832 in 2013 to 882 in 2014 due to the licensing of new MfBs by the CBN. “In 2014, JHN MfB Ltd and Crystal Edge MfB Ltd located in the North-West had their licences revoked by the CBN and are in the process of liquidation by NDIC,” it said. Of the institutions in operation, it said only 679, representing 77 per cent, rendered returns to the NDIC as at 31st

December, 2014. The paid-up capital for the year under review it noted, increased by 23.46 per cent from N44.16bn in 2013 to N54.52bn. However, it pointed out that the reserve declined from N0.41bn in 2013 to negative N1.47bn in 2014, due to poor asset quality and declining profit, adding that the shareholders’ fund of the MfBs increased by 19 per cent from N44.57bn in 2013 to N53.04bn in 2014. The MfBs total assets, it pointed out, increased by 12.26 per cent from N197.44bn in 2013 to N221.65bn in 2014, even as total loans and advances also increased from N85.44bn in 2013 to N114.70bn in 2014. Although the quality of assets improved marginally as indicated by the NPL ratio of 17.20 per cent in 2014, compared with 18.49 per cent in 2013, it said the ratios exceeded the prudential threshold of 5 per cent. “The liquidity position of the microfinance subsector was strong as reflected by the average liquidity ratio of 80.37 per cent compared with the prudential threshold of 20 per cent. BC

that may exist between clients and insurers” he said. He said the guidelines condemned unfair trade practices and customers maltreatment among others. Daniels said under the guidelines obtaining money or property by means of any untrue statement of a material fact or any omission of a material fact necessary could attract a jail term. He said that the claims management required each insurer to also develop, document and implement claims management policies and procedures for all its lines of business. BC

Daniel

NCS Shuts rice importers facilities over N23.6bn duty

he Nigeria Customs Service, NCS, has shut the warehouses and business premises of four major rice importing firms over N23.6bn unpaid rice duty and levies. The Public Relations Officer of NCS, Mr Wale Adeniyi, told a news conference in Lagos that the service would also not allow discharge of the companies’ imports in any of the nation’s ports. Adeniyi said that altogether the companies had imported a combined excess of 750, 253,03 tonnes of rice, for which the service expected payment of extant duty and levies. The customs spokesman said the service had written the affected companies severally to notify them of their duty liability at normal rate if they exceeded their quotas. “Similarly, we published many notices in national newspapers, including where affected importers were mentioned with outstanding payments,’’ Adeniyi said. He explained that the importers were the beneficiaries of 2014 Rice Import Quota Policy, which specified a preferential duty rate of 10 per cent and levy

of 20 per cent for their imports. “The importers and their sister or associated companies have been blocked from the Nigeria Integrated Customs Information System, NICIS, thus denying them access to make declarations. “All these will be done preparatory to instituting full legal proceeding to compel them ,importers, to pay what they owe Nigeria, when the courts are back from recess,’’ the customs spokesman said. Adeniyi said the service had issued several ultimatum to the companies to pay the outstanding charges against them, adding that “today, we are no longer issuing ultimatum.” The Rice Import Quota Policy was meant to fill a national demand gap, Business Courage gathered. The beneficiaries were rice millers who have invested in the sector and created employment in the value chain. The policy states that the quantity imported in excess of approved quotas will be subjected to the extant rate of 10 per cent duty and 60 per cent levy.BC

NAMA concludes SAT at Aminu Kano airport

Abdulsalam

he Nigerian Airspace Management Agency, NAMA, has conducted a Site Acceptance Test, SAT, of the installed equipment at the Mallam Aminu Kano International Airport, Kano. The exercise is a prelude to the formal commissioning of the

Safe Tower Project. The Site Acceptance Test which is conducted using a Test Procedure Book is intended to ascertain conformance with all stated and specified functions of the equipment within environmental tolerance. Managing Director of NAMA, Ibrahim Abdulsalam who used the occasion to declare open a four-day Awareness Training on the ,ADS-C/CPDLC, Automatic Dependent SurveillanceContract/Controller-Pilot Data Link Communication project also to be commissioned soon, described these two projects as strategic in the agency’s effort to transform air traffic management services in the country. He listed the benefits of the Kano Safe Tower project when

operational to include use of electronic or paperless flight progress strips by air traffic controllers; effective and efficient flight planning; reduction in ATC workload; availability of a Radar Monitoring System for enhanced Air traffic situation awareness; automated data storage for effective billing; availability of meteorological information online and real time; vertical wind shear alerting system among others. Abdulsalam also enumerated the benefits of the ADS-C/ CPDLC when commissioned to include extended range communication that would ensure effective ATM delivery within the Nigerian airspace; reduced ATC and Pilot workload; enhanced safety through accu-

racy and efficiency in communication between ATC and flight crew; reduction in flight delays, flight times, fuel burnt and C02 emissions; provision of cost effective surveillance and data communication; elimination of air – ground communication blind spots within the airspace and the provision of effective coverage over the oceanic airspace. Also Managing Director of Avsatel Communications Limited, Project Contractors, Mr Georg Eder,expressed confidence that Nigerian airspace would experience the needed transformation in its flight operations with the quality of equipment deployed by his company which he described as “world class”. BC

WORLD RECORD Fastest time to burst three balloons with the back Fastest mile fireman’s carry

Vol. 05 No. 1170 Monday, August 3, 2015

The fastest time to burst three balloons with the back is 12 s e c o n d s , s e t b y Ju l i a G u n t h e l , a k a ‘ Z l a t a ’ ( G e r m a n y ) , o n 2 3 N o ve m b e r 2 0 0 7 .

N150

When will Buhari visit China? I nviting President Muhammadu Buhari to the United States of America for an official visit less than two months after he displaced former President Goodluck Jonathan says a lot of President Barack Obama’s adroitness and cerebral fecundity. The invitation and its actualization hallmarked the depth and quality of the US president’s statecraft. The development is a reflection of Nigeria’s standing in the West’s calculations. Yes, Nigeria occupies a pride of place in Africa. Of the continent’s population of 1.11 billion (2013 estimate) spread across 58 countries and dependent territories, Nigeria alone has 184.2 million (July 2015 projection). She also possesses immense natural resources, which are convertible huge potential for rapid economic development. Therefore, in all ramifications, Nigeria qualifies for the description of a “sleeping giant” waiting to

HeartBeat Callistus Oke

Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY) anthonykila@mail.com be propelled into realizing her destiny. However, the West, led by the USA, got exasperated when the ‘sleeping giant’ was not responding to the several stoking therapies administered by that power bloc to realize her destiny, and so it turned its back on her during the Dr. Goodluck Jonathan era. Jonathan ran to China for needed succor. Within the context of international relations, the Chinese option was not a bad one. She is an unpretentious contender for the sole slot of the new superpower in an increasingly unipolar international political system. With close to $4 trillion in her foreign reserves, the highest in the world – the US’s is $120.8 billion – the funds to service her new status as the world’s guzzlers of natural resources and super investor is no problem. China’s global role as comforter of the rejected has implications for influence peddling leading global state actors like the US. So, Buhari’s recent four-day visit to the US could be part of the Obama administration’s seduction act to get back Nigeria into the West’s sphere of influence. Mr. John Campbell, former United States Ambassador to Nigeria, expectedly put the development in perspective when he asserted that the just concluded visit “would be an opportunity to reset the bilateral relationship between the two countries” badly damaged under Jonathan government. I have no doubt in my mind that the West would whao over the coup de grace executed by Obama to return Nigeria to

BUHARI MUST NOT MAKE THE MISTAKE OF DUMPING CHINA TO

REMAIN IN THE GOOD BOOK OF THE WEST

their orbit; and I equally know that Obama would do everything possible to consolidate the gains actuated by the visit by being nice and pleasant in words and deeds to President Buhari. What is so uncertain is if our president will behave like a man who forgets his old wife the moment he gets a new one. This is a likely scenario given the West’s hostility to China’s current political and economic forays into Africa. My advice for Buhari is to behave like the traditional African man, adept polygamist, who has perfected the art of managing his harem of women, including concubines maintained outside. So, who says our president cannot deploy such connubial expertise in the international arena? Thank God we are in a globalised world. If our president could play the handsome groom’s role well, he can successfully entrap both Obama and his Chinese counterpart, Xi Jinping and exploit them to his advantage. However, Buhari must not make the mistake of dumping China to remain in the good book of the West. There are countless reasons to recommend this cautionary approach to Buhari.

The West sees itself as the epitome of development and civilization through which it benchmarks the standards with which it relates with the outside world, including Africa. But it does not appreciate that peculiar local conditions would make its high standards unachievable for some peoples, especially those battling with mastering their numerous challenges of modern day governance. Jonathan was a victim of this high expectation. However, China belongs to the realist school of international relations. Her penetrating inroad into Africa is founded on her appreciation of local specificities. For example, the Chinese government maintains zero tolerance to corruption, which it punishes with death. Enforcement of such high ethical standard externally would have placed her on a collision course with many African leaders. Buhari’s commitment to the execution of his government’s anti-corruption agenda, which is in sync with western expectation, would win him the cooperation of the West. In the same vein, he would also reap bountifully from China’s high inflow of FDI into Nigeria with no strings attached because of our big market and huge basket of natural resources. China’s investment portfolios in Nigeria, at the last count, were worth $15 billion, substantial part was used to boost the nation’s decaying infrastructure. Four year ago, her total investment here was $13.3 billion; that of the US was $8 billion. That Nigeria’s railway is showing improvement is due to the $2.5 billion loan facility she signed in October 2006 with China. Substantial part of the funds is to go into the development of an estimated 7,800 kilometers of standard gauge railway network primed to connect all 36 state capitals and major cities in the country on concession-holders basis. The project when completed would be able to run 36 trains per day from Lagos to Kano and back, and move about 40 million tonnes of goods per year. Such win-win strategic partnership is what Nigeria needs.

Sport Extra

Athletics: WADA raises the alert over doping

he World Anti-Doping Agency (WADA) says it is very alarmed by the latest allegations of widespread doping in athletics. A report has obtained ac-

cess to a database containing more than 12, 000 blood tests from 5, 000 athletes and claims the results show what it calls the extraordinary extent of cheating by athletes at the world’s most

prestigious events. It is alleged that a top UK athlete is among seven Britons with suspicious blood scores, while 10 medals were won at the London 2012 Olympics by athletes

who have reportedly recorded dubious test results. However, Britain’s Mo Farah and Jamaican sprinter Usain Bolt, who have been the subject of whispering campaigns, emerged as clean

with no abnormal results. “WADA is very disturbed by these new allegations that can shake the foundation of clean athletes worldwide,” WADA President, Sir Craig Reedie, said yesterday.

Reedie

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