Monday, January 14, 2013 by GLOBAL MEDIA MIRROR LIMITED

Nigeria won’t disintegrate –Jonathan N17m scam: EFCC arraigns Kaduna dep. speaker ROTIMI FADEYI ABUJA

resident Goodluck Jonathan yesterday said that Nigeria would remain united and stronger despite the

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present challenges. The President said that the nation could not disintegrate having been together for about 100 years. He spoke at the Inter-Denominational Church Service to

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mark this year’s Armed Forces Remembrance Day Celebration at the National Christian Centre, Abuja. “It would only take two mad people to stay in marriage for CONTINUED ON PAGE 6>>

DAYS TO GO Zambia not under pressure P.54 to defend title

Monday, January 14, 2013

N150

Fuel shortage imminent

...as NNPC shuts Arepo pipeline Task force dislodges oil thieves’ from hideouts

UDEME AKPAN, FEMI OYEWESO AND MURITALA AYINLA

Sanusi

Banks’ agric lending portfolio rises to 3.53%

uel shortage may emerge again across the nation, especially in Lagos and its environs, as the Nigerian National Petroleum Corporation, NNPC, shut the Arepo pipeline. The closure was to tackle the fire which broke out on Saturday after a breach by vandals. The explosion at Arepo village in Obafemi Owode Local Government Area of Ogun State resulted in the deaths of about 30 suspected pipeline vandals and created panic in Arepo and nearby villages. Industry sources said that fuel supply from the Atlas Cove to Ejigbo, Mosimi, Ore, Ibadan and Ilorin where major and independent marketers lift fuel to

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Fashola

L-R: Managing Director, UBA Capital Plc, Mr. Rasheed Olaoluwa; Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema and Managing Director, Africa Prudential Registrars Plc, Mr. Peter Ashade, during the official listing of the shares of Africa Prudential Registrars Plc and UBA Capital Plc at NSE in Lagos at the weekend.

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THE

BUSINESS SECTION

NICON, IGI, others drag FIRS to tribunal over N1.15bn excess tax

JTF arrests Boko Haram commander P.5

17 vessels to discharge petroleum products at Lagos ports P.A4

Lagos waives 10% charges for families of Dana crash victims P.7

Free inside

Abuja under security watch

French pilot, 11 soldiers killed as battle rages in Mali

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Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Monday, January 14, 2013

Photo News

Monday, January 14, 2013

L-R: President of Valparaiso University, Indiana, USA, Mark heckler; former President Olusegun Obasanjo and Nigeria Ambassador to USA, Prof. Ade Adefuye during the inauguration of newly established Africa Institute at Valparaiso University on Saturday.

L-R: Wife of Ekiti State Governor; Mrs. Bisi Fayemi; Information Officer, Economic Community of West African States Commission, Mr. Paul Ejime; Executive Director, United Nations Women, Michele Bachelet; Country Representative, UN Women, Dr. Grace Ongile and Managing Director, Bank of Industry Ms. Evelyn Oputu, during a private sector interactive session with PHOTO: ROTIMI OSASONA Bachellet in Abuja, at the weekend.

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L-R: Group Managing Director, First Bank Nig. Ltd, Mr. Bisi Onasanya; Abia State Governor Theodore Orji and Executive Director, Public sector, First Bank, Mr. U.K. Eke, during a visit to the governor in Umuahia at the weekend.

L-R: Malokun of Atijere, Oba Olumide Edema; Odoka of Obe-Ogbaro, Oba Obafemi Ogbaro; Alaafin of Oyo, Oba Lamidi Adeyemi; member, Yoruba Conflicts Resolution, Olootu Ashaye; Leader, Yoruba Conflicts Resolution, Olugbo of Ugboland, Oba Obateru Akinruntan, who led the Federal Government’s delegation to commiserate with the Alaafin on the inferno that gutted his palace in Oyo at the weekend.

National News

Banks’ agricultural lending doubles to 3.53% ...express commitment to increased funding for agriculture AYO OLESIN

gricultural lending as a percentage of total loan portfolio has more than double to 3.53 per cent presently compared with 1.52 per cent in 2009. Indication to this emerged at the special Bankers’ Committee meeting in Lagos on Saturday where the bankers pledged their commitment to increased lending to the agric and agro-allied companies to facilitate a rapid development of the sector. At the meeting with the theme: “The role of the Nigerian financial sector in enabling the agriculture industry in Nigeria,” the CBN, deposit money banks, the Ministry of Agriculture and other stakeholders, took wide ranging decisions to de-risk the agricultural sector and make it a profitable sector for bank financing. It was agreed that to ensure that the year on year lending target to the sec-

tor is achieved, there is a need to understand progress made so far in the agriculture value chain, identify commercial opportunities within the value chain, address risk issues associated with the sector and align with the agriculture ministry on key priorities for the sector this year and in the coming years. Bankers’ Committee members also emphasised the need for ongoing collaboration with key players in the agriculture value chain to achieve increased lending to the sector while banks will continue to engage the government to strategise on ways to boost lending to the value chains to ensure sustainable growth. Presentations were taken from 11 value chain leads focusing on cassava, rice, sorghum, and cotton. Others were cocoa, oil palm, maize, soya bean and leather. There were also presentations on poultry, beef and horticulture. The various presen-

tations discussed the financial viability of the value chains, investments required to achieve sustainable growth and commercial opportunities for banks. Following the discussions, participants have agreed a way forward to address access to funding for key players. The Committee recognised that the agriculture sector which employs about two-thirds of Nigerians

and is the highest sectoral contributor to the nation’s GDP is yet to reach its potential as a key contributor to national revenues and export earnings. Participants agreed that agriculture is set to be the next growth area in the economy with the potential to catalyse significant improvement in the nation’s economic fortunes and help to realise the Financial System

Strategy, FSS, 2020 vision. Members expressed satisfaction at the progress made by the Federal Ministry of Agriculture in various sectors of agriculture. The ministry informed the Committee that at least 11 crops had been identified for value chain development. The ministry showed what efforts it had made to revive the various sectors and boost their production. On its own side, the CBN unveiled once again

the Nigerian Incentivebased Risk Sharing System for Agricultural Lending, NIRSAL, an innovative scheme aimed at de-risking the entire agriculture value chain. Some of the key agreements reached at the meeting include the cost of lending for some key sectors of agriculture, how to deal with the cost of insurance and the process of enlightenment campaign among all the stakeholders.

Troublemakers will die within three months -Bakare SINA FADARE

hose disturbing the peace of Nigeria will become the sacrificial lamb used to clean and sanitise the country before April. The General Overseer of the Latter Rain Assembly, Pastor Tunde Bakare, who gave prophesy, said “all the evil people might have died through their evil machinations and it would be happy New Year on April 1, 2013.” The cleric, who spoke at

a press conference in his church yesterday, noted that those who plunged the country into political and economic quagmire had been digging their own graves in which they would bury themselves. He said: “God spared those leaders that put us where we are so that their cups would be full for them to vomit what they have swallowed and reap the reward of their wickedness.” Regretting that high level of corruption had crippled Nigeria, Bakare said: “Our country has long been

distorted by corruption and corruption has progressively eroded her strength and undermined her potentials. “Corruption corrodes a nation’s soul and makes the people superficial.” The fiery pastor, however, raised the hope that Nigerians, who wanted their country back now, would have it back. “If we join hands together, it is possible to reclaim the country. It is possible to ennoble the soul of our nation such that as we become Nigeria, Nigeria becomes us,” he said.

Bakare, who said that without the Sovereign National Conference, the country would move forward, however, predicted that in the next few weeks, things would start to happen so rapidly that all things hitherto thought to be impossible would become possible. According to him, Nigerians have failed to ask who they are and where they are going. He said: “We have continually failed to situate our national desires and aspiration within the scaffold of self-fashioning.”

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News

Monday, January 14, 2013

JTF arrests Boko Haram commander OMEIZA AJAYI AND INUSA NDAHI

arley 24 hours after a suspected Boko Haram kingpin was arrested in Abuja at the home of a former lawmaker, the Joint Task Force, JTF, ‘Operation Restore Order’ has again arrested a high profile commander of the sect, Mohammed Zangina. Zangina, who has a N25m bounty on his head and is a member of the

sect’s Shura Committee, was arrested at about 12:30p.m. yesterday at the Government Reserved Area, GRA, Maiduguri. JTF spokesman, Lt. Col. Sagir Musa, in a statement issued yesterday, said the arrested suspect was in the city to coordinate several planned attacks against civilians and security personnel scheduled to be carried out as from the weekend. Our correspondent observed that all major roads

leading to churches and other strategic locations were condoned off for several hours by JTF operatives, which resulted in gridlock for hours during and after Sunday services. Zangina a.k.a Mallam Abdullahi or Alhaji Musa, according to Sagir is the Boko Haram leader in charge of the North Central Nigeria and coordinator of most of the suicide attacks and bombings in Abuja, Kaduna, Kano, Jos and Potiskum.

Sagir insisted that Zangina is a key member of the Shura Committee of the terrorist group, who is among those declared wanted and with a bounty of N25m placed on him by the JTF on November 23, 2012. Sagir added that he survived or escaped during several raids on his hideouts in Abuja, Kaduna, Kano, Jos, Potiskum and Damaturu, which have remained the centres of attacks and killings.

L-R: President Goodluck Jonathan; Secretary to the Government of the Federation; Senator Anyim Pius Anyim; Chief of Army Staff; Lt.-Gen Azubuike Ihejirika; Chief of Naval Staff, Vice-Admiral Dele Ezeoba and Chief of Air staff, Air Marshal Alex Badeh at the interdenominational church service for the 2013 Armed forces Remembrance Day celebration in Abuja yesterday. PHOTO: STATE HOUSE

Meanwhile, security operatives have begun massive raids of suspected criminal hideouts and regular surveillance of the Federal Capital Territory, FCT, to prevent terror attacks, based on intelligence reports. Teams of security operatives have already cordoned off the Three Arms Zone including roads leading to the Eagles’ Square. President Goodluck Jonathan is expected at the Square tomorrow for the celebration of this year’s Armed Forces Remembrance Day. Residents around the Wuse Market axis and the federal secretariat road had to trek long distances before they could get vehicles to convey them to their various destinations. A police source said that for the next two weeks the city is likely to witness more raids and patrols, urging residents to go about their normal businesses. The source, however, insisted that it has become “very necessary to rid the city of certain elements that have ulterior motives for coming to Abuja.”

For several hours yesterday, a military helicopter was seen on an aerial surveillance of the Three Arms Zone and parts of the Central Business District, a development which forced some residents to head for home immediately after church services. At the ever-busy Wuse Market axis, a full complement of security operatives were seen chasing away roadside hawkers and taxi drivers who used to pick up commuters in the area. Only on Saturday night, there were reports of the seizure of a bus alleged to contain incendiary materials. The Police, however, said the bus which was alleged to have been impounded around the Wuse market junction was sanctioned for illegal parking. The developments came yesterday as the Federal Capital Territory Administration, FCTA, also commenced a massive sanitisation of the Wuse Market and its adjoining roads. The exercise which was coordinated by the Abuja Environmental Protection Board, AEPB, would also CONTINUED ON PAGE 6>>

Fuel shortage imminent as NNPC shuts Arepo pipeline CONTINUED FROM PAGE 1

their retail outlets had been disrupted by the incident Our correspondent learnt that marketers had been directed to lift fuel from the jetties of some independent marketers in Lagos to other parts of the nation. A marketer, who did not want his name mentioned, said: “We have been directed to use trucks and lift fuel from some jetties in Lagos. The option would likely lead to congestion because of the large number of trucks involved.” The Acting Group General Manager in the Group Public Affairs Division of the Corporation, Ms Tumini Green, who confirmed the development advised motorists and other consumers not to panic. Green said that the corporation had sufficient stock of fuel to meet demand. The affected pipeline is the conduit for premium motor spirit, PMS, popularly known as petrol, from Atlas Cove Jetty in Lagos to

other depots in the SouthWest. The Assistant Commissioner of Police, ACP, in charge of the Special Task Force on Anti- Pipeline Vandalism, Mr. Friday Ibadin, confirmed the incident to newsmen in Lagos. Ibadin said an explosion was heard at about 2a.m. and shortly after, a team of policemen led by the Sector Commander, Lagos, Onaghise Osayande, a Deputy Superintendent of Police, arrived at the scene and cordoned off the area. He said that the fire was caused by suspected vandals, who were in the habit of siphoning petroleum products after breaching NNPC pipelines and ferrying the stolen oil in jerry cans across the creeks to illegal markets. “Our preliminary investigation reveals that the fire was sparked off by vandals, who were arguing over who was eligible to collect fuel from the ruptured pipeline. “It was in the heat of the argument that one of them accidentally released a bul-

let that led to several explosions. However, operatives of the Inspector-General of Police Special Task Force on Anti-Pipeline Vandalism Unit, Force Headquarters Annex, Lagos, who were on patrol, rushed to the scene to mitigate the disaster.” However, the Governor of Ogun State, Senator Ibikunle Amosun yesterday took a swipe on the management of NNPC and accused it of aiding and abetting petroleum pipeline vandalism in the state. Amosun, who made an on-the-spot assessment of the scene of the explosion in the early hours of Sunday at Arepo also declared that the management of the corporation had been tactically supporting vandals to wreck havoc on the nation’s economy through its lackadaisical attitude. The governor, who was visibly irked by the gory sight of dead bodies that littered the scene of the fire incident, declared the incident as a clear indication of failure of governance. “It has come to a stage

where we have to tell ourselves the home truth; this shows that we are our own problem in this nation; we are our own enemies because this is clearly a failure of governance. We have NNPC there, indeed I have to say it here and am saying it with all sense of responsibility that NNPC by their inaction is aiding and abetting the vandals. “Indeed, I want to believe that they are part of this pipeline vandalism with their inaction because you can’t have somebody there as GMD, NNPC or what have you and they will allow this to be happening. “How can some vandals put everybody in this nation into problem? Just look at dead bodies littering the place,” he said. Amosun, who bemoaned the poor security arrangement put in place to guard the NNPC facilities, also stated that non-readiness of the entire management of the corporation to provide the needed modern day security gadgets to effectively police the facilities made it

culpable in the criminal activities which he described as economic sabotage. The governor added: “How can we not spend a token to maintain it? That is why I said NNPC with their inaction are part of this problem. I want to believe that they are the people aiding and abetting these vandals. “Even the security people here are risking their lives. Look at the canoe NNPC is using in this age and time. Even when they say the place is combustible, they can use solar powered canoe. If they support, I will get this place cleared before the end of March. I need swamp buggies. I will clear this place and we will erect a platform. “Look at where they said is a security watchtower. Who will go and stay there to watch anything? This is not good for us as a nation, we are our own enemies. Any public thing, nobody looks after it. We should do the right thing. This is a multi-billion naira investment.

“There is no access to go there and these are the people with sophisticated weapons. I even understand that that was the same spot where the NNPC engineers were killed; so which officer will want to risk his life? If we have this type of investment, of course we should do ourselves some good.” Amosun also said that if the management of NNPC could partner with his administration to clear the area and install electronic monitoring gadgets in the area, frequent acts of vandalism would become a thing of the past in the area as it would make it easier for officials to monitor happenings around all the pipelines even from the comfort of their offices. Amosun declared: “I will be responsible, if they are ready to partner with us. We’ll clear this place by end of March 2013. You will not see anything here again. We would have started erecting the platform, they will put CCTV there and there will be a control room. CONTINUED ON PAGE 6>>

News

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Nigeria won’t disintegrate –Jonathan CONTINUED FROM PAGE 1

100 years and say that it is the time to divorce and we are not mad. If there are issues that have been brewing over the period and we have been managing, we will continue to manage. “We will not think about separation. I always say that some nations have their own history. At times, people question the unity of this country, especially when they talk about the amalgamation of the North and South in 1914. “Some big countries have very ugly pasts. But it is not for us to begin to blame history, it is for us who are alive today to shift our focus and begin to talk about those things that will bring unity, development,” he added. The President said that the country would make progress with the support of Nigerians, noting that government alone could not do everything. Jonathan said that as a united nation, Nigerians must rise up in one voice and condemn terrorism and those who preach disintegration. According to him, “Nigeria is a great country not because of its oil, but because the large size and diversity, which if properly utilised would bring about unity, progress and development.”

The President said that as united nation, Nigerians must rise up in one voice and condemn terrorism and those who preach disintegration. He commended the armed forces and other security services for their selflessness, stressing that they had been able to keep the nation together in peace. “We are here to remember the armed forces who serve within and in various parts of the world to bring peace to the world and in that process lost their lives. “Let me especially thank the armed forces because today is their day and also the police and other services, we sleep because they stay awake. “In some cases where things happen, people blame you profusely but for those of us who get reports on daily happenings about such challenges, we know that these men and women have been doing very well,” he said. He called on Nigerians to continue to pray for God’s guidance for members of the armed forces and all security agencies in the performance of their duties. In his message titled: “Embracing the legacies of a worthy officer,” the President, Nigerian Baptist Convention, Rev. Supo Ayokunle, said that it was one thing

Financial experts foresee stronger economic growth this year UDO ONYEKA

inancial experts, including the Managing Director of Financial Derivatives Company, FDC, Limited, Mr. Bismarck Rewane and Head, Markets at Sterling Capital, Mr. Sewa Wusu at the weekend said that Nigeria has a high potential of recovery in major sectors after 2012 slow output. They spoke at the Finance Correspondents Association of Nigeria, FICAN, Roundtable on the Economy held in Lagos. Rewane, in his speech said that improved power output due to completion of privatisation process, increased agricultural output, stable oil production, expectations of expansionary monetary policy and effective fiscal policy would spur the economy in 2013.

He said that declining interest rate environment would be market driven and the adjustments of Monetary Policy Rates, MPR, would likely be reduced from current level of 12 per cent in view of lower inflationary threats. Also, Rewane said that that Gross Domestic Product, GDP, rebasing is expected to take place this year. Such, he said would alter the base year to 2008 from 1990. It will also add N400bn to the GDP. The GDP is currently estimated at $273.8bn. He said that by carrying out the exercise, Nigeria will be emulating Malaysia and South Africa which rebased their GDPs from 2000 to 2005 each and Ghana- from 1993 to 2006. He, however, said rebasing the GDP would make the rich richer and poor poorer, while the country’s growth trajectory will decline.

to be given opportunity to serve but another thing to serve very well. He added that while some people would serve in a place for short time and leave an indelible mark

while in the case of others their impact would not be felt despite their long service. The clergy charged members of the armed forces and other security agen-

cies to follow the example of the Roman centurion in the Bible who was in charge of a hundred men and as an ambassador in the land of Israel took care of those serving under him.

Ayokunle, therefore, urged Nigerian officers to treat the soldiers with care, stressing that when they show love and care, they would command the desired respect.

Borno State Deputy Governor, Zanna Mustapha, administering a vaccine to a child during the anti-polio immunisation campaign in Maiduguri yesterday.

JTF arrests Boko Haram commander CONTINUED FROM PAGE 5

be extended to cover other areas in the city such as Area One axis in Garki. National Mirror gathered that no fewer than 1,000 hawkers, street traders and other unlawful operators were evicted from the area on the first day of the exercise which kicked

off at about 4a.m. on Saturday. The sanitisation exercise resulted in partial blockade of all the entry roads to the market. Director of AEPB, Mr. Isa Shuaibu, said that through the exercise over 1,000 hawkers, street traders and illegal elements operating in Wuse market,

Berger Junction, Zone 2 junction and other adjoining streets to the market were arrested. He assured that the operation would be sustained and warned hawkers, street traders and other illegal operators to steer clear the market and its precincts or face arrest and prosecu-

tion. Shuaibu also warned banks and other businesses bordering the market against condoning hawkers in front or around their offices stressing that AEPB would be left with no option than to seal off the office of any company found guilty of such illegal acts.

Fuel shortage imminent as NNPC shuts Arepo pipeline CONTINUED FROM PAGE 5

“NNPC has been going front and back. If they want to stop vandalism in Ogun State, I don’t know of any other state, they should come and we’ll rub minds because I don’t want Ogun State to be on the front pages of newspapers for wrong reasons.” Amosun also vowed that he would be making an official complaint to the appropriate authorities over the incident. “I will write again to the appropriate authority and I have been doing that.

This is not good for us as a nation. Every time, they will say that vandals have done this and that, what have they (NNPC) done? Some people will be in Abuja blowing big grammars.” Commenting against the backdrop of some community leaders’ connivance with the vandals, Amosun who ruled out such possibilities however, threatened any community leader caught doing so would be severely sanctioned and be made to face the full weight of the law.

Meanwhile, officials of the Lagos State Taskforce on Environmental and Special Offences (Enforcement) Unit at the weekend raided and dislodged illegal oil traders operating under the popular Iganmu Bridge in the city The taskforce also warned sellers of second hand cloths at Suru Alaba whose business activities hinder the pace of ongoing construction work in the area, just as it demolished several shanties erected on the along drainage channels.

Speaking when he led over 80 officials of the taskforce on ‘Operation clean up Lagos’, the Taskforce Chairman, Bayo Sulaiman, a Superintendent of Police, said the oil traders had turned the space under the Iganmu bridge into a market for stolen diesel and petrol. On sighting taskforce officials, the traders fled, leaving behind several drums of diesel while shanties erected under the bridge were demolished by the taskforce. About 17 drums of diesel were confiscated by the taskforce.

National Mirror www.nationalmirroronline.net

National News

Monday, January 14, 2013

Lagos State govt waives 10% charges for families of Dana Air crash OLUSEGUN KOIKI

he Lagos State government yesterday approved the request of the Nigerian Civil Aviation Authority, NCAA, to waive the usual 10 per cent statutory fees payable on Letters of Administration, LOA, for the families of the Dana Air accident of June 3, 2012 at the Iju-Ishaga area of the state.

This is even as the government promised to fast track the processes of the LOA for the families of the victims in order to get the $70, 000 balance that they are entitled to. The state government, however, stated that additional assets or properties of the victims would be processed in accordance with the regular processing requirements. A letter written to the

Director-General, NCAA, Dr. Harold Demuren with the reference number PHC/ DAN01/VOL.1/12 from the Probate Registry, High Court of Lagos State on the 11th January, 2013, signed for the Chief Registrar, High Court of Lagos State by the ACR, Probate Registry, Abioye O. Emmanuel and made available to National Mirror said that the waiver was necessary in order to cushion the effect

of the loss. The letter, titled: “Re: Legal requirements for payment of full compensation to the families of the victims of the Dana Air crash of 3rd June, 2012”, also stated that any victim’s family, requiring guardianship Order should apply to the court with an affidavit of urgency and would be so treated by the government. The letter reads in part: “I am directed by the Hon-

ECOWAS, BOI seek adequate funding for gender based programmes OLUFEMI ADEOSUN ABUJA

he Vice President, Economic Community of West Africa States, ECOWAS, Dr. Toga Mclntosh, has called on the Federal Government to evolve and finance gender-based, people-oriented programmes for the country’s overall sustainable development. Mclntosh stated this at the weekend in Abuja in his remarks at the private sector interactive session with Madam Michelle Bachelete, United Nations Women Un-

der-Secretary-General and Executive Director. The interactive session was presided by the Managing Director of the Bank of Industry, BOI, Ms Evelyn Oputu. The vice president said funding such initiative was also key to addressing contemporary challenges of globalisation and promoting effective and efficient development. He said: “We, therefore, have no choice, if we seek sustained economic, social and political development, but recognise and adequately support the role of women in the process of

nation-building.” He noted that financing women empowerment and gender equality could yield significant dividends not only to businesses but also toward enhancing over-all sustainable human development. Also speaking, Bachelete, while calling for equal opportunity and participation for women in Nigeria, said women empowerment could trigger economic growth in the country. She noted that women had the tendency to get to the higher level when given the opportunity and become a potential factor in the economy.

Bachelete called on corporate organisations to find a way of impacting on the life of women through capacity building. Ms Oputu, in her remarks, said women empowerment is vital to economic development, stressing that gender issue is very important and has been taken to the fore front since she assumed office in 2005. “The paradigm shift on women empowerment was introduced to take care of women because most banks were not lending or granting loans to the women due to the best reason known to them,” she said.

ourable Chief Judge of Lagos to acknowledge your request dated 16th November, 2012 on the above stated matter and to inform you that her lordship has considered same most passionately and I am to convey as follows: “That the Lagos State Judiciary, Probate registry shall fast track the entire process of issuing Letters of Administration as well as any application for guardianship. Any victim family requiring guardianship Order needs to apply to the Court with an affidavit of urgency and same would be so treated. “The NCAA shall forward a list of the victim families (Applicants) for the administrative of work to the probate registry. NCAA shall inform representative to complete necessary forms as individual files would be used for each victim family. Waiver of some requirements for processing of Letters of Administration is approved only for the purpose of payment of compensation to victim family.” The government in the letter stated further that administrative fee for processing is put at a flat rate for all

applicants in the sum of N6, 000, adding that the request that the same conditions that qualify victims for the payment of $30, 000 should be adequate for payment of outstanding balance of $70, 000 could not be considered, saying that the said conditions were not made available to the judiciary. It will be recalled that NCAA had disclosed on Friday that families of 14 victims had so far received the remaining balance of $70, 000 after the submission and approval of the LOA from the major insurance company, Lloyds of London, United Kingdom. Demuren, who was represented at the occasion by the Director, Aeromedical, NCAA, Dr. Theresa Bassey, assured that the airline would meet the two months deadline issued it by the Ministry of Aviation for it to recommence flight operations. Demuren further informed that 131 victims’ families had so far submitted documents for the payment of compensation, while the families of 12 were yet to submit any documentation for compensation.

South West

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Accord Party will end ACN’s rule in Oyo –Ladoja KEMI OLAITAN IBADAN

ormer governor of Oyo State and national leader of the Accord Party (AP), Senator Rasheed Ladoja, has said that the days of the Action Congress of Nigeria (ACN) in Agodi Government House are numbered. Ladoja said this at the weekend while receiving defectors from the Otunba Adebayo Alao-Akala and Oloye Jumoke Akinjide factions of

the Peoples Democratic Party (PDP) and the ACN to the AP at Ajaawa in Ogo Oluwa Local Government Area of the Pacesetter State. He added that “we are confident of victory in future polls.” The former governor said that the political realignment and gains of the AP are pointers that if elections are conducted, the party is certain of victory. While predicting the death of the PDP in Oyo State, Ladoja said that the inability of the party’s hier-

archy to resolve its internal wrangling will be its undoing, adding that the PDP is a party of deceit. He noted that the name of the PDP has been changed to People Deceiving People, adding that happenings in the local and national leadership of the party has shown the people that it will be unwise to pitch their tents with a deceitful party His words: “We have suffered under the PDP and we are scattered under the umbrella. We believe and trust

in the Accord Party and we know that we can get the best within it and attract more development to the state.” He added that the AP has grown to become the bride of the people by offering the best form of participatory democracy not found in either the PDP or the ACN, saying: “In AP, we don’t impose candidates on the people and that is what some people are doing which causes disaffection in their fold. We listen and field

candidates chosen by their people to contest. I am not a godfather. We shall continue to receive more people throughout the state to open the doors of participation and deepen democracy. “I have not seen a party that prides in bribery like the PDP. That is why most internal wranglings within the party are far from been resolved. They will take bribe from all warring parties. We must provide the better alternative to our people through the AP. They

thought we were playing when we started but now they are even celebrating us. They said we were only interested in sending AlaoAkala away from office but we are a focused party. “We understand that you voted for your son during the last election when he was in government. But now that your son is not in government again, you need to invest in the future of your children by voting for our party. The PDP is dead here now in Ogo-Oluwa.”

No crisis over election of bishop, says Anglican Church Fashola insincere about special agencies’ rating –PDP OJO OYEWAMIDE AKURE

he Cathedral Church of St. David, Akure, Ondo State, yesterday said there was no crisis in the Church over the election of the Very Reverend Simeon Oluwole Borokini as the Bishop-elect of the Akure Anglican Diocese. Borokini, who is the current Provost of the Cathedral, was elected last week by the Conference of Bishops of Nigeria at AgbaraOttor, Delta state. Men of the State Security

Service (SSS) were said to have invaded the premises of the Church yesterday during the Yoruba service to prevent the crisis reported to have been provoked by the choice of the Bishop-elect. But speaking to journalists while reacting to the development, the Elders of the Cathedral, led by former Minister of Finance, Olu Falae, and the Balogun Ijo, Emmanuel Adesina Adegoke, said all its members were happy about Borokini’s election. Falae, who described the Bishop-elect as a man

of peace, who is spiritually qualified to lead the Akure Anglican Diocese, wondered where the insinuation emanated from. The former Minister said: “We are very happy here. Where could the crisis have come from? Is it from the Conference of Bishops? Or from Akure people? Or from the Church? Ask from Senator Olorunnimbe Farukanmi from Anglican Church, Iju; ask from J.B. Akerele from Ijare. They are all happy. No, there is no crisis here. You can see that we are singing, dancing and rejoicing.”

OLAJIDE OMOJOLOMOJU

he Lagos State chapter of the Peoples Democratic Party (PDP) has criticised the Babatunde Fashola-led Action Congress of Nigeria (ACN) government for over rating the capabilities and relevance of its “special” agencies like the Lagos State Emergency Management Agency (LASEMA), Lagos State Fire Service (LSFS), Lagos State Ambulance Services (LASAMBUS), Lagos State Security Trust Fund (LSSTF), Lagos State

Traffic Management Agency (LASTMA) among others, funded from tax and donations from corporate and individual philanthropists. The criticism according to the PDP is coming on the heels of the moribund or delayed activities of these agencies, especially on the backdrop of recurrent cases of fire incidence, houses collapse and LASTMA’s fatal enforcement, which the party said ought to be the concern of a truly responsive government. Speaking through its Publicity Secretary, Taofeek

Gani, the PDP said: “The ACN in Lagos State should stop deceiving Lagosians and stop toying with their lives and property. The state government has deliberately exaggerated the capabilities and relevance of its purported emergency agencies. “These agencies have realised huge contributions from corporate and individual philanthropists, yet they are provided for in the state budget. It is painful that in spite of the monies available to these agencies, Lagosians still suffer from their inefficiencies.”

Senator sympathises with Alaafin •Oyo NUJ urges Yoruba to rebuild palace KEMI OLAITAN IBADAN

The ongoing Construction of Faculty of Transportation of the Lagos State University (LASU), Ojo, Campus. INSET: Lagos State Governor Babatunde Fashola SAN (right) being conducted round by the Assistant Director, Architecture Services, Mr. Aderemi Adebo (middle) during an inspection tour by the governor and members of the State Executive Council, recently.

Lawmaker blames security agencies for crime, violence KEMI OLAITAN IBADAN

go fight among the various security agencies in the country has been attributed to be responsible for the seemingly intractable security challenge facing the country. This was the contention of the Vice Chairman of the Senate Committee on Agriculture, Olugbenga

Kaka, while delivering a lecture at the 10th Anniversary of Masters of Science, Legal Criminology and Security Psychology Programme, organised by the Department of Psychology, University of Ibadan. The former deputy governor of Ogun State said that the only way the security problems can be tackled is for all hands to be on deck, while all security

agencies bury their rivalries and work in harmony. Kaka maintained that the country is facing series of security challenges today because the nation’s security agencies were “working at cross-purposes.” He added that another factor responsible for the increasing wave of crimes and criminal activities was because nobody has ever been properly con-

victed by the courts in the country. Kaka while speaking on the lecture, titled “Enhancing the InterAgencies Co-operation to Effectively Tackle the Contemporary Security Challenges in Nigeria,’’ said the security crisis in Nigeria assumed such a dangerous dimension such that the world shivered on hearing the name of Nigeria.

he Senator representing Oyo Central senatorial district, Ayo Adeseun, has sympathised with the Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III, over the colossal damage to the palace of the ancient town caused by a recent fire outbreak. This was just as the chairman of the Oyo State Council of the Nigeria Union of Journalists (NUJ), Gbenga Opadotun, said the rebuilding of the burnt sections of the ancient palace was a task for all Yoruba sons and daughters. Adeseun, who, at the weekend paid a sympathy visit to the monarch alongside notable political leaders from Oyo Central senatorial district and Ogbomoso zone, described the fire incident as regrettable sad news for the New Year. He said: “The Alaafin’s palace is a complete embodiment of the wholeness of Yorubaland just as the Alaafin is the fulcrum of what Yoruba represents anywhere in the world. The palace

is a Yoruba Mecca of rich culture, custom, tradition and history for our generation and the next but the fire has destroyed irreplaceable valuables that added dignity to the palace over time; the artefacts, ornaments and properties worth tens of millions of naira. We, however, thank God that no life was lost to the inferno and gratitude to Allah that the highly respected monarch is very much alive.” He also commended the men of the state fire service for their prompt response which reduced the potential damage that could have arose due to the fire, saying: “As illustrious sons of Iku Baba Yeye, we are poised to be part of the reconstruction process of the palace as a way to fulfil the adage of our forefathers on bestowing beauty back to the burnt palace (Ile oba t’o jo, ewa lo busi).” Opadotun, who led members of the NUJ on a sympathy visit to the traditional ruler yesterday, specifically called on all Yorubas wherever they are to come home and contribute to the rebuilding process of the palace.

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South West

Monday, January 14, 2013

Ex-CAC president, three others plotted against church –Witness KEMI OLAITAN IBADAN

he second prosecution witness in the forgery allegation case against the immediate past president of the Christ Apostolic Church (CAC) Worldwide; Pastor Elijah Olusheye and three others, Pastor Oladepo Akintola, has told the Federal High Court sitting in Ibadan, that the accused staged a ‘coup’ against the

church by forging some documents. Akintola, who stated this at the weekend while being led in evidence by the prosecution counsel, Mr. Kareem Salawu, said it was not true that the constitution of the church was amended in 1991 and 1995, stating that since the church was registered in 1943, the controlling body has been the General Executive Council (GEC). The other accused per-

sons are Pastor Gideon Okegwemeh, the General Secretary of the Church, Pastor Ayo Olabisi and a senior officer of the Corporate Affairs Commission, Mr. Abdul Hameed Mohammed. He said the constitution of the church remained intact under the General Executive Council until 1969, when it was amended while the leadership title of the mission was changed to Supreme

Council and the title remained till today. The octogenarian, who is also the General Secretary of the Supreme Council faction of the CAC, maintained that what happened in 1990 was a coup staged by a group in the church that called itself “Christ Initiative Forum” against the constituted authority of the church under the leadership of Pastor J. B. Orangun, but that they failed.

He said “Christ Initiative Forum” was led by the late Pastor John Makinde and financed by late Pastor Tewogbade, while Pastors Olusheye and Okegwemeh and then Elder Olabisi, were members. Pastor Akintola said for the members of the group to achieve their aim, they forged two minutes of meetings and series of documents which they eventually sent to the headquarters of the

Owners of arrested goats to pay N10, 000 fines each

Oyo acquires mobile ambulances for free healthcare delivery

ADEOLU ADEYEMO

yo State government said it has acquired mobile ambulances for the commencement of free rural healthcare services in the state. State Governor, Abiola Ajimobi, made the disclosure while speaking at the senatorial meeting of the Action Congress of Nigeria, ACN, in Oyo South senatorial district held at Mapo Hall, Ibadan, at the weekend. Ajimobi, who said the ambulances would be inaugurated next week, explained that they would be deployed to all the nooks and crannies of the state to attend to the health needs of the people. He said arrangement had been concluded with one of the mobile network providers to acquire some emergency telephone lines with which the people would be communicating with the health personnel who would be manning the ambulances from any part of the state. The governor said at least, three emergency points would be built in each of the local governments where the ambulances would be stationed and from where they would be available for call by anyone with a health challenge.

Ajimobi

Corporate Affairs Commission (CAC) in Abuja, informing them that the CAC certificate of registration had got lost. He said the Corporate Affairs Commission later withdrew the certificate issued them after Pastor Nelson Udofia, the then General Secretary of CAC, went to Abuja with some Pastors to convince them that the 1969 certificate of registration of the mission was still intact.

OSOGBO

L-R: Member representing Ayedaade/Irewole/Isokan Federal Constituency at the House of Representatives, Hon. (Mrs.) Ayo Omidiran; Osun State Governor, Rauf Aregbesola, his wife, Sherifat, during the 7th National Assembly Media Award as the Most Outstanding Honourable Member in the South-West political zone in Osogbo, at the weekend.

‘UNILAG, OAU, eight others have best Law faculties’ EMMANUEL ONANI ABUJA

he Nigerian Institute of Advanced Legal Studies (NIALS) has released a list of 10 universities whose law faculties, it said, could compete favourably with the best in the world. A statement by the Director-General (DG) of NIALS, Prof. Epiphany Azinge, SAN, named the University of Lagos (UNILAG), Obafemi Awolowo University (OAU) Ile-Ife, the

University of Jos (UNIJOS), University of Benin (UNIBEN), Lagos State University (LASU) and Ahmadu Bello University (ABU) Zaria, among the 10 best-rated universities offering law programmes. The statement said the others are; the University of Nigeria, Nsukka (UNN), Babcock University, University of Maiduguri (UNIMAID) as well as Igbinedion University, Okada. According to Azinge, the release was in fulfilment of the legal institute’s statutory responsibility of provid-

ing up-to-date information, supervision, guidance and advice to law researchers on any university of choice in Nigeria. The director-general noted that the 10 universities were chosen after extensive research and scientific data collection on faculties of law in all the universities - federal, state and private ones. His words: “Our duty demands that we undertake a project of this nature to promote standardisation and for the mutual benefit of the students and

the institutions. Thus, the essence of this ranking is to challenge Nigerian law faculties to improve standards in all aspects. “This ranking is not interminable as law faculties that were not captured in the top 10 ranking are encouraged to improve their standards significantly so as to stand a chance in subsequent years. While those ranked are encouraged not to rest on their oars, they are to work tirelessly to maintain already set standards,” Azinge said.

WAEC seeks states’ collaboration to end exam fraud ABIODUN NEJO ADO EKITI

he West African Examinations Council, WAEC, has appealed to states in the federation to join hands with it for the abolition of external candidates in national examinations in view of the associated examination malpractices. WAEC Registrar, Mr. Iyi Uwadiae, who said assistance from states had helped greatly in reducing

examination malpractices, added that such collaboration would put a final stop to the menace. Uwadiae, who spoke at the commissioning of WAEC complex in Ado Ekiti at the weekend, lamented that some private school owners’ attitude of illegally trafficking students from one state to another to write WAEC had caused noticeable loopholes in the conduct of examination by the council. His words: “Some pri-

vate school owners used to recruit examinees from neighbouring states to write WAEC examinations. We have been able to fight this because it forms part of the way through which our examinations are being compromised. “Examination malpractice is a scourge this council must fight at all costs. In doing this, all the stakeholders must join us because we cannot do it alone,” he said. The registrar, who said

efforts to sanitise examinations through abolition of external candidates had to be sustained, praised Ekiti State government for complying with WAEC’s order that registration of external students should be stopped. He described Ekiti as a front-liner among the states that had fought relentlessly to get rid of examination malpractices, saying the state had indeed displayed that it has zerotolerance for the menace.

he Osun State Waste Management Agency, OWMA, has ordered the owners of the five goats arrested in Osogbo, the state capital, last Tuesday to pay N10, 000 fines each. The Director of Environmental Management and Sanitation in the agency, Mr. Henry Ogunbanwo, who gave the order at the weekend, charged the owners of the goats to comply within seven days or lose their goats. His words: “Though some of the owners of the arrested goats had approached the agency to claim their goats, but were compelled by law to pay the prescribed fine or forfeit the ownership of the goats. “The agency was acting in line with the provision of article 101 of the 2002 Laws of Osun State, which prohibits rearing of animals in residential areas, adding that the agency has the backing of the court.” Ogunbanwo further maintained that a court of competent jurisdiction had empowered the agency to arrest any stray animal roaming around residential areas within the state. According to him, goats allowed to roam around residential areas could transmit Tuberculosis, antrax, buselosis and other zoonotis diseases which they carry to residents of the area. The director, who said the agency had been arresting domestic animals in the state before now, argued that “sensitisation and enlightenment programmes had earlier been organised by the agency to educate owners of domestic animals in the state.”

Monday, January 14, 2013

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Monday, January 14, 2013

North

Monday, January 14, 2013

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Jonathan surrounds self with sycophants –Tofa AUGUSTINE MADU-WEST KANO

eteran politician and prominent northern leader, Alhaji Othman Tofa has identified sycophancy among President Goodluck Jonathan’s aides and escalating corruption in the country as the bane of his administration. Tofa said in an interview with our correspondent that the major defect of the President’s administration was the people around him, masquerading as his aides. He said: “Whatever is the defect of Jonathan’s government, the most disturbing one is the people he appointed as his aides, most of whom are incompetent, dishonest, incapable of doing anything right and lacking nation-

alistic ideals. “He does not have the right kind of team needed by his office to move the country forward.” The immediate past Chairman of the All Nigeria Peoples Party, ANPP, added that what the President needed to do to redeem the situation was to conduct wide consultations outside his “kitchen cabinet.” According to him, most of the President’s ministers and advisers only confront him with those things they believe he will want to hear, while their focus is to pursue their personal economic interest. The former presidential candidate of the defunct National Republican Convention, NRC, in the June 12, 1993 presidential election, said there were capable Nigerians outside the government who

could be trusted and had the capabilities to move the country forward. He said: “From what I have seen, the people around him today are terrible people and source of his weakness, which he needs to get rid of because anybody in position, no matter how intelligent, if he doesn’t have the right team to work with, he is obviously bound to fail.” On the issue of corruption, Tofa cautioned leaders against tampering with public funds, saying “the moment a leader tam-

pers with public money, if it’s one kobo, you have not only derailed but lost your guts to sanction your subordinates when they commit similar offence”. He also said that whoever would emerge Nigeria’s President should be a person with no interest in public money. On the issue of merger among some opposition parties, Tofa said the success would depend largely on the ability and courage of the leaders to dump their personal ambition.

He said: “There must be sacrifices by the parties involved and see the issue as one embarked upon to ensure the survival of democracy, rather than opportunity to climb to power, otherwise the party to be so emerged will be bedevilled with factions that will take them back to square one.” The former presidential candidate, who said he was on sabbatical from the ANPP, accused the party leaders of insincerity which he said caused them some of their strongholds.

He said: “In Kano, we in the ANPP lost to the PDP in the governorship election because of internal sabotage. “We have a lot of hypocrites, who are members of the party only within, once in Abuja or somewhere else, they are PDP members, work relentlessly for the party, which employed them to sabotage their own party and they are doing so because of their interest in federal appointments or some kind of favour from the PDP.”

Upturning Supreme Court verdict is absurd –Katsina CPC lawmakers OBIORA IFOH ABUJA

he ruling of Abuja High Court vacating the seats of 10 lawmakers from Katsina State has been described as a breach of the country’s judicial system. The lawmakers, two senators and eight House of Representatives members on the platform of the Congress for Progressives Change, CPC, sacked by the court presided by Justice Gladys Olotu last week, said it was unheard of for a High Court to upturn the Supreme Court’s judgement. The lawmakers noted that the Abuja High Court lacked merit to deliberate on the case which, they argued, had earlier been decided in their favour by the Supreme Court on December 16, 2011. The legislators said they were the authentic candidates of the CPC, since the leadership of the party submitted their names to the Independent National Electoral Commission, INEC. The lawmakers had earlier got a Supreme Court judgement in December 2011, which sacked the group led by Senator Abdul Yandoma and Ahmed Sani Stores and eight other House of Representatives members.

Speaking at a media briefing yesterday in Abuja, the group, led by Senator Hadi Sirika, who described the judgement as a show of shame, wondered where a High Court derived its powers to overturn the decision of the Supreme Court. Sirika, who disclosed that his team had filed an appeal challenging the decision, noted that they were the winners of the authentic primary conducted by the CPC. The senator added that it was after members of the other group were dissatisfied with the results of the primary that they held a parallel primary, whose result was rejected by INEC. He said: “On 20th April 2011, the Court of Appeal sitting in Abuja agreed with all the arguments of the CPC and consequently set aside the judgement of the Federal High Court. “In a unanimous decision, the court averred that based on the provision of the Electoral Act 2010 (as amended) and the 1999 Constitution, the party at the national level is the only organ empowered to organise primary elections and not any of its branches, and therefore the Katsina State branch of the CPC cannot usurp the powers conferred on the National Executive Committee.

A cross section of Army officers at the Armed Forces Remembrance Day church service in Jos, yesterday.

PHOTO: NAN

Adamawa crisis: Govs desperate to impose a presidential candidate –PDP elders OBIORA IFOH ABUJA

he Peoples Democratic Party, PDP, elders in Adamawa State have called on the leadership of the party not to allow the Nigerian Governors’ Forum, NGF, have its way in the crisis rocking the state chapter of the party. The elders said NGF was plotting to hijack the party in the state to impose one of its members as PDP presidential candi-

date in 2015. Dr. Umar Ardo, who spoke on behalf of the PDP elders in Abuja yesterday, said the group would not recognise the newly constituted “PDP committee on Adamawa Crisis and Resolution.” Ardo said the committee was “mysterious” as the elders did not know who constituted it. He said President Goodluck Jonathan could be making a costly mistake should he not read the handwriting on the wall

and move on time to save the party from “the tyranny of governors” before it was too late. Ardo said the governors were using the Adamawa State crisis to test their might and see how far they could go in using it to destabilise the national secretariat of the PDP to project their own interest in 2015. He said: “It is all about 2015. Anybody that tells you anything contrary is not sincere. They want to impose one of them as the

presidential candidate of the party in 2015 and that is why they are defying what the people and the President want.” Reacting to the constitution of the Lamido committee put together by the President, Ardo said the elders only saw an advert on the pages of newspapers asking members to submit memoranda to the committee but that they did not know who set up the committee and what it was supposed to do.

Kwara to buy 15 aircraft in three months WOLE ADEDEJI ILORIN

wara State Government said it would acquire between 10 and 15 aircraft in the next three months. The Chief Press Secretary to the governor, Wahab Oba, said in a statement that the aircraft would complement the ones in the state Aviation College to train commercial pilots.

He said Governor Abdulfatah Ahmed’s intention was to make the idea a part of the Medium Term Strategy of his administration to promote socioeconomic development in the state and create high and medium levels welltrained manpower. Quoting the governor, the statement said the additional aircraft would enhance the capacity of the college to “a level where its impact

would be felt in the state.” Ahmed recalled that his administration’s Medium Term Strategy had ensured the completion of the Advanced Medical Diagnostic Centre in Ilorin in recognition that proper diagnosis was a precondition for effective medical treatment. The centre, the governor noted, “boosts of modern sophisticated equipment such as MRI, CT scan, Fluoroscopy and state-of-the-art

laboratories in such areas as Pathology, Microbiology and Haematology”.

Ahmed

Monday, January 14, 2013

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Politics

Budget stirs row in Kwara

FELIX NWANERI

he Action Congress of Nigeria (ACN) has said it is time for the country to embrace electronic voting in order to ensure the integrity of its elections. The party, in a statement issued yesterday by its National Publicity Secretary, Lai Mohammed, said electronic voting will cut down cost of elections, ensure stability in the polity and reduce the involvement of the security agencies during polls. It added that though Section 52 sub-section 2 of the Electoral Act bans the use of electronic voting “for the time being,” the National Assembly should move quickly to amend that part of the law, while the Federal Government should

ACN backs electronic voting in 2015

provide the Independent National Electoral Commission (INEC) with all the resources needed to make electronic voting a reality. The ACN said: “We assure INEC of our full support towards using electronic voting in 2015. We also appeal to all other political parties, civil society organisations and indeed all Nigerians to join us in pushing for a system that will eliminate the role of thugs and sideline vote thieves during our elections, in addition to making our elections free, fair and credible. “While electronic voting is not a magic wand, it is the surest way yet for Nigeria to join the league of countries that have wiped out electoral fraud, which is the worst

form of corruption. It is also the best way to hand over Nigeria’s elections back to Nigerians, instead of having the judiciary determine who wins what contest. Two years is long enough time to achieve this.” The party noted that even Ghana, which has organised perhaps the best

elections in the sub-region, has realised it can no longer continue with manual voting, hence it did not wait for troubles associated with electoral malfeasance to break out before embracing electronic voting during its last general elections in December 2012. “It is not just enough

for us to sit back in envy while the world hails our neighbour, Ghana, for being a model in electoral rectitude and participatory democracy. Let us ask ourselves what we need to do differently to shed our toga of electoral fraud and brigandage. “Yes, there were some

hiccups during the last elections in Ghana, which were conducted with electronic voting. But Ghana quickly moved to correct whatever problems came up. The system also allowed Ghana to extend voting without fearing that ballot boxes will be hijacked or stuffed,” the ACN said.

Sokoto not the poorest state –Danladi Bako makko pumped N2 billion OLAJIDE OMOJOLOMOJU

okoto State has faulted the report of the National Bureau of Statistics which adjudged the state as the poorest in the country. The state Commissioner for Information, Danladi Bako, said it was not correct to adjudge Sokoto the poorest state in the country. Bako, in a statement made available to National Mirror, said the report is even ridiculed by the assertion in the report that the state “retained” its position. Bako said: “With all due respect to Dr. Kale and the survey researchers employed to do this project, I am very confident that no researchers were seen in the state doing the very elementary function of scientific sampling or application of questionnaire as is fundamental in surveys of this nature. Or maybe they employed other forms of research like guesswork or extrapolation.” Setting the records straight, Bako said that the state governor, Aliyu Wa-

into the state economy by way of grant to the state Chamber of Commerce, saying that this has paid off, because from one car dealer in 1990, there are over 30 car dealers in the state; from about 200,000 residents in the state in the 1980s, Sokoto town alone is home to over two million people, asking: “Do people rush or migrate to a poor city?” He added: “Education has always taken more than 30 per cent of the state budget since 2007; enrolment has gone up by more than 30 per cent, and more than N2 billion is spent on books and teaching aids annually.”

L-R: Oyo State governor, Abiola Ajimobi; state chairman, Action Congress of Nigeria (ACN), Chief Akin Oke and Bello Oladeji, during the first senatorial meeting of the Oyo ACN in Ibadan at the weekend.

APGA accuses PDP of plotting to impeach Okorocha CHRIS NJOKU OWERRI

he All Progressive Grand Alliance (APGA) yesterday accused the Peoples Democratic Party (PDP) of plotting to unseat the Imo State governor, Rochas Okorocha by allegedly bribing members of the House of Assembly with N3 billion.

In a statement issued yesterday in Owerri, the Imo State capital, the APGA state chairman, Marshal Okafor-Anyanwu observed with dismay that despite the failed plan by the Economic and Financial Crime Commission (EFCC) to arrest two officials of the state government, Chike Okafor and George Eche, the Commissioner for Fi-

PDP charges Fayemi on new cabinet ABIODUN NEJO ADO EKITI

ollowing the dissolution last week of the Ekiti State Executive Council by Governor Kayode Fayemi, the Peoples Democratic Party (PDP) in the state has advised that competent home-based politicians should be appointed into the cabinet. The state chairman of

the party, Mr. Makanjuola Ogundipe, said the advice was necessary so that only those who love the state as well as understand issues in the state get to office, so that they could impact positively on the state and its people. Ogundipe said in a statement yesterday by his media aide, Femi Omolusi, that the sacked commissioners and special advisers were “a set of failure

and incompetent aides who brought backwardness and poverty to Ekiti State.” He, therefore, cautioned the governor against importing commissioners and special advisers to the state and in turn, make Ekiti an annex of Lagos State “by sending his list of new commissioners and special Advisers to the former governor of Lagos State, Bola Tinubu for approval.”

nance and Accountant General respectively over false and unfounded allegation, the PDP chieftains have perfected another plan to instigate the state House of Assembly to impeach the governor. Okafor-Anyanwu said that the plot is allegedly being hatched by Senator Hope Uzodinma, Hon. Emeka Ihedioha, Eze Cletus Ilomuanya and Eze Duruihuoma. “They are boasting all over the town as well as dropping the name of Mr. President thus claiming to have the support of the presidency to impeach Okorocha.” He claimed that the PDP chieftains “have set aside N3 billion to enable them offer each member of the state legislature N100 million to actualize the evil plan.” He described the move as “wicked plan to whittle down the roaring image of Okorocha and possibly

remove him as governor of Imo State before 2015, which will be resisted by APGA and the good people of Imo. His words: “It is also surprising that this evil plot is hatched just as Okorocha paid up all loans collected by the past administration including the N6.4 billion obtained from a bank by the former governor, Ikedi Ohakim at the twilight of his administration. “Unfortunately, the same EFCC that hurriedly swooped on the two innocent government functionaries on trump-up charges is still foot-dragging in arresting Ohakim since he left office in 2011.” But in a swift reaction, the state PDP Publicity Secretary, Mr. Blyden Amajirionwu, advised the governor “to sit down and tackle his state responsibilities rather than going about spreading rumours.”

Politics

WOLE ADEDEJI examines the no love lost relationship between the ruling Peopls Democratic Party (PDP) and the opposition Action Congress of Nigera (ACN and Congress for Progressive Change (CPC) as the three parties battle for the soul of Kwara State.

Monday, January 14, 2013

Budget stirs row in Kwara KWARA IS LARGELY A CIVIL SERVICE DRIVEN STATE AND UNTIL WE ARE ABLE TO ATTRACT

he rivalry between the ruling Peoples Democratic Party (PDP) and the opposition Action Congress of Nigeria (ACN) in Kwara State since the preparations for the 2011 governorship elections has not waned in any way. Rather, it is getting hotter with each passing day. In recent time, the Congress for Progressive Change (CPC) appears to have joined the fray by towing the way of the ACN in strengthening opposition to virtually every policy of the state government. However, in what looks like a designed mission, they never pretended that one man, the former governor of the state and the scion of the Saraki political dynasty, Senator Bukola Saraki is their target. Saraki turns out to be the only governor of the state that ever completed two terms in office. It is common knowledge that his becoming the governor was by all standard made possible by his late father, Dr. Olusola Saraki, who is widely acknowledged to be the father of politics in the North Central state. The political size of the late Saraki is believed by a cross section of the people to intoxicate the younger Saraki, who is regarded as simply arrogant in all ramifications. He initiated so many programmes as the governor, which his opponents say were designed to suit his personal economic interests on the long run and against the expected commendations he should deserve. That he did everything possible to make the incumbent governor, Abdulfatah Ahmed, succeed him at all costs never earned him respect either. To those who are ever ready to counter Saraki, all the energy the senator put in place to ordain and install his successor was just a ploy to achieve an agenda and this, they associate with every programme of the Ahmed administration. The government of Ahmed is tagged a government of continuity to Bukola’s, and unfortunately, the Ahmed administration has not helped matters by always playing into the hands of the opposition. Of late, the 2013 Appropriation Bill presented to the state House of Assembly before Christmas has become a platform of discord between the PDP and the ACN. As is always the case, the leftist ACN punctured the capital and recurrent proposals of the government in the budget, but was more particular about what it termed an unholy conventional servicing of a family by successive governments in the state spanning over several decades. The issue has become a row and the spokespersons on both sides have been having a field day. The ACN, using the name of its 2011 governorship candidate, Dele Belgore (SAN), said in a statement signed by his media aide, Rafiu Ajakaiye, that the proposed budget does not reflect a government that is in tune with the yearnings of the impoverished masses of the state, neither is it in tune with global trend.

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MASSIVE PRIVATE SECTOR INVESTMENTS INTO THE STATE... WE MAY HAVE NO OTHER OPTION BUT MAINTAIN THE CURRENT UNFORTUNATE SITUATION Ahmed

Belgore

The statement read: “The state’s 2013 budget, where recurrent expenditure, standing at N51 billion, exceeds capital expenditure of N42.6 billion, does not show a government that is in tune with the yearnings of the impoverished masses and global trend. And, for a state that is clearly on the lower wrung of social, economic and human capital development, such budget estimate calls for worry by concerned citizens, conscious of the dictates of the time and consequences of enriching a corrupt few at the expense of the majority of the populace. We hope the state Assembly would rightly raise issues with the budget estimates, which we found to be ridiculous and run afoul of the government’s muchridiculed ‘Shared Prosperity’ mantra.” Belgore said the state government did not record a pass mark in the year 2012, saying: “Events of the outgone year have shown beyond doubt that Kwara people want genuine change and real socio-economic and political empowerment - not the window dressing that dotted the past years. While our people are indeed peace-loving and unassuming, they cannot continue to endure lies being told in the name of governance.” Like a comrade at arm, the CPC followed in the footsteps of the ACN, by aligning itself with the party. Its chairman, Suleiman

Buhari, said that though it was not holding brief for Belgore, it had to tow his line of argument, “because of the obvious, score card of the government so far.” Buhari said: “The CPC in Kwara State has observed with dismay, shock and disbelief the pedestrian response that the PDP gave to the dispassionate and intervention of the ACN governorship candidate in Kwara State, Belgore (SAN) with respect to the allocation of a whopping N51,794,060,140.00, about almost 55 per cent of the total budgetary allocations to recurrent expenditure. It will be recalled that Belgore had recently echoed the concern of the public when he picked hole in the thoughtless allocation of an almost 55 per cent of the total budgetary allocations to recurrent expenditure against the much required capital allocations, which is the ideal modern budgetary requirement. “But alas, instead of the PDP to take the intervention in good faith and question its government for throwing fiscal responsibility to the dogs, it deliberately misrepresented Belgore’s advice, while also using its trade mark foul language to humiliate his person.” Puncturing the budget further, the CPC said it fell below the requirement of the United Nations Development Programme (UNDP). It said: “The CPC believes that this kind of budgetary projection, where recurrent expenditure is far bigger than capital expenditure, absolutely falls short of the ideal budgetary requirement for a rural state like Kwara. The UNDP requires that a minimum of 70 per cent should be reserved for capital expenditure of developing states like Kwara in order to achieve accelerated and sustainable growth. Pray, how does the state under the PDP hope to achieve this with a budgetary outlook where the internally generated revenue is not even enough to offset its overhead cost, let alone personnel cost with a combined strength of over N25 billion? And to worsen the situation, there is an unprecedented level of wrongful spending priorities, income inequality and poor investment in social services.” The CPC added that “it is rather laughable that at this age and century, the PDP in Kwara State would with bold face, list as achievements of a state government with the huge resources at its disposal, the sinking of boreholes, filling of potholes, paint-

ing of classrooms, provision of chairs and tables to selected primary schools and the procurement of bicycles to party bootlickers. How more directionless and visionless can a government be? So, for the avoidance of doubt, what the ACN’s candidate said in clear terms, which our party absolutely agrees with, is that instead of filtering away the state resources on a very small circle of political jobbers, establishing new useless ministries and departments to create jobs for the boys with its attendant cost on the state budgetary expenditure, the government should look inwards and reduce the size and cost of government, learn to prioritise budgetary allocations, expand its revenue base by attracting Federal Government and private sector players in mineral exploration, improve the state business climate by easing the starting and running of a business in the state.” Reacting, Governor Ahmed attributed the slanting of the 2013 fiscal budget in favour of recurrent expenditure to the need to promote and sustain workers’ welfare since the government remains the major employer of labour. Ahmed, who gave the explanation during the January monthly interactive session with the media and members of the public, said it was unfortunate that governments at all levels in the country have, over the years, allowed the civil service to grow at the expense of the other sectors of the economy. This, he noted, has led to the deployment of “substantial part of the budgets, which in an ideal situation should have been used to drive capital expenditure, to salaries and emoluments.” According to Ahmed, “Kwara is largely a civil service driven state and until we are able to attract massive private sector investments into the state, as government is currently doing, we may have no other option but maintain the current unfortunate situation.” The governor also dismissed insinuation that development is being concentrated in certain section of the state and pledged the support of state government to interested investors from within and outside the state. His words: “We are ready to assist local investors, just as our doors are opened to investors outside the state. Our primary objective is to explore all possible and positive avenues to create more jobs and wealth for our teaming youth. This is an oath we have sworn to and will not derail or be derailed.” On scholarship, the governor decried a situation where very few of the deserving students benefit from the current bursary and promised to introduce a merit driven scholarship scheme for students in tertiary institutions to create a level playing ground for them instead of relying on bursary, which does not benefit all. The governor noted that his administration places high premium on education, saying that appropriate mechanism has been put in place to ensure adequate infrastructure in all the state-owned tertiary institutions in order to create condusive learning environment. Indeed, opposition parties in Kwara are cashing in on the 2013 budget, but the PDPled government seems unfazed with the criticisms.

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Monday, January 14, 2013

A voice from the sanctuary of Ayobo HeartBeat

CALLISTUS

OKE

Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY)

he terse invitation came on Friday night by text message from my former boss, Mr. Segun Babatope. It said I was to join some five other senior journalists in Ayobo the following morning - Saturday January 5, 2013 - for an interface with the General Superintendent of the Deeper Life Bible Church, Pastor William Folorunso Kumuyi, which would be coordinated by him and my first ever editor and current managing director of The Guardian newspapers, Mr. Emeka Izeze. I immediately confirmed my attendance. I saw the invitation as a rare opportunity to appreciate a man of God I have heard and read so much about, but never met. A Catholic all my life, I remember how the new waves of Pentecostalism in the country in the late 1970s shattered my concept of Christianity. I had accepted sin as evidence of my mortality, whose blight, according to my catechism, the indulgence I receive after confession could erase. This orthodoxy was seriously challenged by the new practical Christianity founded on holy living made possible through the grace that

ne year after the fuel subsidy demonstrations over unjust fuel price increases cost lives and properties and federal government setting up noisy probe panels, little has changed. The rotten business is as usual bleeding to death the cash-cow oil industry. The oil industry and bureaucracy cabals have successfully fought back the resolve of both the National Assembly and President Goodluck Jonathan to fumigate the termites eating up our collective commonwealth. What we have now is a voodoo scenario similar to a magician in the late 1960s called Alapayopa in Lagos. Alapayopa pulled crowds with his magical stunts of disappearing objects and cooking hot eggs from nowhere opposite Igbobi Orthopeadic hospital. One day, police officers arrested him; and as they pulled, his arm from shoulder dropped neat, bloodless. A terrified and embarrassed cop held a stump arm, which could not stand trial in court. Alapayopa sneered, with petrified and jeering crowd watching, eyes peeled, for the film’s “the end”. The long and short of the story was that the police officers had to beg Alapayopa to take back his magically amputated arm, while the cops went back empty handed, without arrest and bribe. The latter day mightier Alapayopa cabals have successfully wrestled the mighty federal government in a corruption fight back that has seen government on bended knees, dancing to the tunes of blackmail of petroleum subsidy cabals, which draws members from the heart of the Presidency. The cabals use oil and financial agencies to perpetuate colossal swindles that have pauperized 150 million Nigerians. Just

could come by being born again. Pastor Kumuyi was a leading voice in Nigeria’s new Pentecostalism since 1973 when he started the Bible study group as a mathematics lecturer at the University of Lagos. Up to my university days, I had associated born againism with SU (Scripture Union), whose female adherence would not wear ear rings or turn on clothes and the male members, thorough teetotalers. I used to see them as very drab people and vowed not to be part of it. Today, I am a proud member of Catholic Charismatic Renewal of Nigeria. A highly reticent man of God, Pastor Kumuyi is so meek that the impression is created that he cares less about secular issues. And in these days of prosperity evangelism, Deeper Life Bible Church has remained absolutely doctrinaire. What will this man of God feel about the church and the state? The opportunity has offered itself to set the record straight. That was how I saw the penultimate Saturday encounter. Interestingly, his seeming reticence and aloofness from secular developments around him was the first issue we raised with him. We drew his attention to what we felt was his passive membership of the Christian Association of Nigeria (CAN) and his troubling silence while other men of God are making prophetic statements about Nigeria. The GS, as he is fondly called, restated his church membership of CAN, but expressed reservations about the way and

A HIGHLY RETICENT MAN OF GOD, PASTOR KUMUYI IS SO MEEK THAT THE IMPRESSION IS CREATED THAT HE CARES LESS ABOUT SECULAR ISSUES manner the apex Christians’ umbrella body in the country is being piloted. On prophecies, he emphatically stated that the Holy Spirit dispenses different gifts to different people; and that because he is his church’s General Superintendent would not mean he must automatically have the gift of prophecy. He added that should he try to imitate what others are doing, he might end up offending God. He opined that prophecies about impending national disasters could be averted through genuine repentance and prayers, as happened in Nineveh in the days of Jonah and to King Hezekiah in the time of Prophet Isaiah. We, however, prevailed upon him to lend his voice against the growing perversion of the power of prophecy in the country. Recall that tempers recently boiled over in this country over the mindless attacks on Christians in the North lead-

ing to the leadership of CAN warning it might tell Christians to defend themselves. Such position, Pastor Kumuyi cautioned, is unrealistic. “When Christians retaliate against such attacks, only innocent Muslims would be target”, he said. There was the submission that CAN could be a powerful tool for influencing the outcome of the 2015 general elections, especially the presidential election, to ensuring that the best candidate emerges to progressively pilot the affairs of this nation. The GS did not rule this out, but would first want a born again CAN weaned from the trappings of partisanship. Moreover, he said that “a king maker wanting to intervene in the making of a good king must himself first understand the characteristics of a king or else he would end up making a bad king.” Pastor Kumuyi appealed to all Christian leaders to educate their flock on the qualities they should look out for in would-be political leaders, saying the issue of religious bias should not be a factor. The issue is not about being a Muslim or a Christian, but possessing the right qualities of a good leader”. The interface was not all about Nigeria; we asked the GS how Christian journalists could still make heaven given the many soul renewal activities they miss by the very nature of their profession. He comforted and admonished us, and allayed our fears about our so called shortcomings. And we got our New Year blessings from him!

One year after fuel subsidy brouhaha THE CABALS USE OIL AND FINANCIAL AGENCIES TO PERPETUATE COLOSSAL SWINDLES THAT HAVE PAUPERIZED 150

MILLION NIGERIANS imagine fresh revelations from an indicted subsidy rogue baron spilling the beans of how NNPC swindles Nigeria of about $5 billion a year by deliberately crippling the refineries to pave the way for overinflated fuel imports to thrive. Mallam Nuhu Ridadu first counseled that corruption cabal would fights back. Femi Otedola’s unashamed claims that he bribed Farouk-led House Committee to delete Zenon Oil and Gas Limited from the list of indicted economic saboteurs was used to rubbish the Committee’s report. The report remains frozen, nine months after. Why, Mr. Speaker? The report of Presijo’s alternative committee, headed by Aig Imoukhuede is largely unimplemented. Madam OkonjoIweala, wetin de happen? Remaining unapprehended are the bureaucracy cabal officials in the Presidency, NNPC, PPPRA, PEF, who facilitated the trillions of naira that were fraudulently dished out to rogue marketers. The media is awashed with nauseating reports of Ibrahim Larmorde’s weakling EFCC and dubious judges negotiating sub-

sidy economy saboteurs to pay token fines to escape justice. Using only plea bargain to rake in stolen funds instead of making sure rogues are jailed so they cannot stand for and pollute public offices in future are signals that Larmorde has over stayed in office. One year after, the Minister of Information Labaran Maku flew a kite, a few days ago, of possible fuel price increase when he unimaginatively echoed government oft-repeated statement preceding price hike that FG cannot sustain subsidy, which does not ease people’s burden, but pocketed by a cabal. Few days after, Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala’s mother was kidnapped, a ransom of N40 million paid. Suddenly after, FG started paying fuel subsidy arrears from N161 billion supplementary budget. The kidnappers claimed the minister’s insistence on rigorous verification of subsidy claims of suspected thieves was responsible for her mother’s kidnap. Is it true? Buried is the report of Minister Diezani Alison-Madueke-induced investigation into insider thieves in NNPC, eight months after it was submitted. Nearly one year after, NASS, FG, NNPC are yet to confirm if quantity of fuel consumed every day is it 59 million or 33 million litres per day? For accurate figures, deliberately muddled up to shield the truth so that subsidy roguery continue, are vital to correctly knowing the quantity of imported products deserving subsidy payments. What is the quantity of petroleum products refined by our four public refineries and at what cost? And what is the quantity of fuel imported to bridge sup-

Roadmap SONI EHI

ASUELIMEN

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ply-demand gap? Is subsidy payment still on kerosene, which sells at between N130 and N150 per litre instead of official N50? The PPPRA says fuel subsidy claims has been halved within one year, but where are the details and what has happened to thieving culprits? What manner of deregulation is Presijo pursuing: a deceitful price fixing or a liberal regime in which NNPC will not be a monopoly player in the same field of processing and importing fuel? Many questions waiting for answers. Will Presijo repair our ailing refineries exploited by the cabals? It is tragic and shameful that a PDP administration in 13 years has failed woefully to redress glaring official subsidy and oil thefts and yet expects the people to applaud it in 2015! 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, January 14, 2013

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All the Facts, All the Sides All the Facts, All the Sides

A PUBLICATION OF GLOBAL MEDIA MIRROR LTD A PUBLICATION OF GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, OFR PUBLISHER BARRISTER JIMOH IBRAHIM, OFR PUBLISHER

STEVE AYORINDE STEVE AYORINDE YELE AKINROLABU YELE AKINROLABU SEYI FASUGBA SEYI FASUGBA BOLAJI TUNJI BOLAJI TUNJI GBEMI OLUJOBI GBEMI OLUJOBI LANRE OYETADE DOZIE OKEBALAMA DOZIE OKEBALAMA ADESOYE ADEKOYA ADESOYE ADEKOYA CALLISTUS OKE CALLISTUS OKE ISE-OLUWA IGE ISE-OLUWA IGE KAYODE BALOGUN JNR KAYODE BALOGUN JNR FRANK OBOH FRANK OBOH

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Telecom industry’s expansion without service quality

ndications are that the nation’s telecommunication firms appear relentless in their resolve to keep ripping off subscribers, with statistics showing so-called investments in network expansion that are bereft of any sign of improvement in the quality of their services. It is common knowledge that their poor services that became manifest in 2012 worsened since January this year. With telecom subscribers still groaning under rapidly declining service delivery, recent reports by the regulatory Nigerian Communications Commission (NCC) buttressing figures that suggest network providers have excess capacity are as perplexing as they are shocking. The brutal truth, however, is that the NCC figures that the network upgrade claims might be a subterfuge to continue to justify the fleecing of subscribers through poor services. Figures obtained by this newspaper from the NCC lately revealed that out of 219 million installed capacity, only 138 million lines are active, an indication that 81 million lines are dead or inactive. This represents about 35 percent lines in terms of inactivity. Yet, MTN, for example, has been gloating about its network upgrade for about nine months now. Other networks, including

INDUSTRY CHALLENGE IS NOT CONVINCING ENOUGH AS AN EXCUSE TO EXTORT MONEY FROM INNOCENT

NIGERIAN

SUBSCRIBERS FOR

GSM SERVICES NOT RENDERED Airtel, Globacom, Etisalat, and others, have announced similar upgrades costing billions of dollars. Regrettably, the outcome of such upgrades translates more to worsening quality of services than was experienced last year. Indeed, January 2013 has experienced the near collapse of major network providers, with unprecedented dropped and inaudible but billed calls, undelivered short message services, and no reimbursement on unexhausted internet bookings arising from failed network. Besides, Airtel goes to the extent of charging subscribers for unpicked calls and flashing. Making matters worse for the embattled GSM operators are their customer-care units which are always snoring away and refuse most times to respond to complaints, thus

leaving subscribers frustrated. It is quite disappointing that the NCC and the Nigerian Consumer Protection Council (NCPC) have been watching Nigerians go through this grueling experience with their hands folded, as if the operators bought them over and struck them with official paralysis. President of the National Association of Telecoms Subscribers, Chief Deolu Ogunbanjo, recently wondered why subscribers are still facing declining service quality when operators have excess capacity to accommodate millions of fresh subscribers. “Every rightthinking person that looks at the NCC statistics will see (that) there is an irony. If I have a room that can contain 10 people and only six people are currently living in that room, do you think there will be suffocation? Indeed, it is an irony of sorts”, he said. But Gbenga Adebayo, National Chairman of the Association of Licensed Telecoms Operators of Nigeria had advanced sundry reasons why operators’ increased installed capacity has not translated to quality service delivery. Among Adebayo’s excuses include vandalism of GSM facilities, multiple taxation and indiscriminate closure of telecom facilities by all tiers of government and their multiple agencies. The 2012 flood problems in some parts of the country and

terrorist attacks on facilities were also fingered, as well as the ineptitude of the relevant authorities that ought to approve requests for network expansion by telecom firms. It bleeds the heart that notwithstanding GSM operators’ epileptic services and their dubious network expansion projects, they still smile to the banks. Yet to be reined in also are all manner of deceitful and unsolicited promos, lotteries, and outright fraud. While we agree that the challenges of deficits in power and other infrastructure; as well as multiple taxation by regulatory agencies should be addressed by the three tiers of government, industry challenge is not convincing enough as an excuse to extort money from innocent Nigerian subscribers for GSM services not rendered. The NCC boss, Dr. Eugene Juwah had promised to evaluate telecoms operators for mandatory key performance indicators on quality of service in order to sanction defaulters last month. Juwah should deliver on that promise. For the umpteenth time, we draw attention to the urgent need to broaden competition by fasttracking the number portability scheme to provide opportunity for subscribers to punish incompetent operators by interswitching networks effortlessly without additional costs.

ON THIS DAY January 14, 2010 Yemen declared an open war against the terrorist group al-Qaeda. The Al-Qaeda insurgency in Yemen refers to a military conflict between by the Yemeni government, backed by the United States; and al-Qaeda and affiliated groups in Yemen, as part of the Global War on Terror. A government crackdown initiated in 2001 and escalated on January 14, 2010, when Yemen declared an open war on al Qaeda.

January 14, 2000 A United Nations tribunal sentenced five Bosnian Croats to up to 25 years imprisonment for the 1993 killing of over 100 Muslims in a Bosnian village. Croats are from the South Slavic ethnic group mostly living in Croatia, Bosnia and Herzegovina; and nearby countries. There are around 4 million Croats living inside Croatia and up to 4.5 million throughout the rest of the world. The GIA’s plan appeared to foreshadow the September 11 attacks.

January 14, 1960 The Reserve Bank of Australia, the country’s central bank and banknote issuing authority, was established. The Reserve Bank of Australia, a government agency, came into being when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The Bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions.

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Business Courage

Monday, January 14, 2013

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Will the axe fall o Following the expiration of the December 31, 2012 deadline, anxiety and frustration take the centre stage as Microfinance Bank operators feverishly await the CBN’s decision on the compliance with the Revised Microfinance Policy Framework, particularly in respect of the capital requirements. Will the apex bank wield the big stick? By Semiu Salami

his week is that of decision for operators of the Microfinance Bank segment of the Nigeria’s financial services sector. It is a week which many of them have waited for with bathed breadth as they calmly expect the decision of the Central Bank of Nigeria (CBN) following the end of December 31, 2012 deadline for the recapitalisation of microfinance banks in the country. Late last year, the CBN had in a circular signed by the Director, Other Financial Institutions Supervision Department, CBN, Olufemi Fabanwo, reminded the MFBs that failure to comply with the Revised Microfinance Policy Framework was a ground for revocation. “This is a reminder to all directors and shareholders of all microfinance banks on the deadline of December 31, 2012, for compliance with the Revised Microfinance Policy Framework, particularly in respect of the capital requirements for each category of MFBs and existing branches/ cash centres.” The revised policy framework provides for three categories of microfinance banks and stipulated minimum capital requirements for each category. Category one is a Unit Microfinance Bank, which is authorised to operate in one location and is prohibited from having branches/cash centres. Category two, according to CBN, is a State Microfinance Bank, which is authorised to operate in one state or the Federal Capital Territory: it is allowed to open branches within the same state or the FCT, subject to prior written approval by the CBN for each new branch. Category three consists of a National Microfinance Bank, which is authorised to operate in more than one state, includ-

ing the FCT, and is allowed to open branches in all states of the federation and the FCT, but subject to prior written approval by the CBN. In meeting the revised guidelines, the CBN gave the microfinance banks three options to comply with. The first option is to raise fresh capital to bring the capital base to the stipulated minimum of N100 million shareholders’ fund unimpaired by losses, to become a State Microfinance Bank under the revised framework. The second option is to obtain regulatory approval of the CBN to close all existing branches and cash centres and remain a Unit Microfinance Bank with a minimum capital requirement of N20 million shareholders funds unimpaired by losses, while the third option is to embark on mergers and acquisi-

tion, such that the consolidated capital base of the combined institutions meets the stipulated capital requirement of a state or national microfinance bank. CBN, in the circular stated further that all MFBs that have “elected to remain unit MFBs (MFBs authorised to operate in one location and prohibited from having branches/cash centres) are required to close any existing branches/cash centres, subject to prior approval of the CBN in writing and adequate notification to existing customers, who should be advised to migrate their accounts to the MFB’s Head Office, while dissenting customers should be settled.” Failure to comply with the revised guidelines, according to the apex bank would attract punitive measures. “It is also pertinent to remind you that the

One of the Microfinance Banks

penalty for operating a branch/ cash centre without prior approval of the CBN as stipulated in Section 13.1(b) of the Revised Guidelines for MFBs is N250, 000 per branch for a unit MFB; N500,000 per branch for a State MFB; and N1m per branch for a National MFB. “In addition, such unapproved branches/cash centres shall be closed within 30 days. Failure to close an unapproved branch or cash centre shall attract a fine of N5,000 for each day of default, irrespective of the category of MFB. Moreover,

failure to comply with any directive issued by the CBN, as stipulated in Section 19(i) of the Revised Guidelines for MFBs, is a ground for revocation of licence.” The CBN said that for the avoidance of doubt, all customer interaction centres and customer service centres or similar outlets, once located outside the registered business premises of a unit MFB would be regarded as unauthorised and unapproved branches or cash centres. “All previous approvals for such outlets for unit MFBs

Business Courage A Publication of GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, OFR  PUBLISHER

Sanusi Lamido Sanusi, CBN Governor

SEMIU SALAMI ADEJUWON OSUNNUYI TAYO ADELEKE

EDITOR STAFF WRITER SENIOR REPORTER

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Business Courage

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n MFBs?

have become null and void from the date of approval of the Revised Policy Framework by the Board of Directors of the CBN,” it added. As at the close of work last week, Business Courage learnt that many of the microfinance banks, who had indicated interest to remain as unit MFBs, were yet to close their branches, one week after the expiration of the deadline. This is even in spite of an earlier warning that appeal for a waiver or reduction of penalty or extension of compliance deadline would not be entertained. An industry source who spoke with Business Courage on the condition of anonymity last Friday said that the MFB operators have decided to take the chances, hoping that the CBN will reconsider its position and offer some soft landing to the operators. He recalled that in 2010, when operational licences of 224 MFBs were revoked by the CBN as a result of what it called ‘below performance’ measuring yardstick, the bank later bent

backward, rescinded its decision and granted provisional approval for new licences to 121 MFBs that had been confirmed to have made fresh capital injection, subject to the fulfilment of some specific requirements within a stipulated timeline of three months. The requirements for the grant of new operating licences to the 121 MFBs included the capitalisation of prior deposits for shares, making available the new capital injection to bring the shareholders’ funds, unimpaired by losses, to the prescribed minimum of N20 million; good corporate governance; sound risk management system; and strong internal controls to forestall avoidable losses. Other criteria set out were closure of unapproved branches, cash centres and ‘customers meeting points’; and adoption of true microfinance business model, among others. Last week, Olufemi Babajide, chairman, National Association of Microfinance Banks (NAMB), South West zone, appealed to CBN to reconsider its position

following the expiration of the December 31 deadline. Babajide said that while capitalisation is an on-going thing, the issue is the categorisation of microfinance banks. He said that majority of microfinance banks are adequately capitalised to at least N20 million but needed time to move to state licence which requires capital base of N100 million, appealing that those that have the unit microfinance bank licence be allowed to operate branches and cash centres till 2014. According to him, closing branches will impact negatively on the economy, saying that it will lead to unemployment and investors’ apathy. “We are appealing with reason. They should see our reason. Staff are going to be unemployed, loans that are given to customers, how do we get them back. Depositors can come to you to deposit money but our loans are not collaterised,” he said. However, in a move which analysts interpret to mean a soft landing for the MFB operators, the CBN in a “Revised

Regulatory and Supervisory Guidelines for Micro-Finance Banks (MFBs),” released last week, stated that any of these institutions that attains total assets of N20 million or a total membership of 2000 would be encouraged to transform to the relevant MFB. The apex bank noted the potential of MFB in poverty reduction, economic growth and development in any economy, especially in the attainment of Nigeria’s Vision 20: 2020 and disclosed its resolve to collaborate with other agencies of the government in monitoring the activities of financial corporations and non-governmental organisations that have significant operations due to their micro savings and deposit taking activities. The implication of the revised guidelines is that, the highest benchmark may have been reduced from N100 million to N20 million which will make those MFBs that have up to N20 million capital base operate as a national MFB as against the initial state operator. The revised guidelines also stated that “Collaboration between CBN, Nigeria Deposit Insurance Corporation, Securities and Exchange Commission, National Insurance Commission Corporate Affairs Commission, National Association of Microfinance Banks, Associations of Non-Bank Microfinance Institutions in Nigeria and other relevant agencies shall be promoted to reduce arbitrage in the practice of micro-finance in the country.” It noted that the authorities have taken active measures to ensure efficient and effective microfinance delivery through the development of the appropriate framework based on the

Jethro Akun, President National Association of Microfinance Banks

particular features and associated risks. The apex bank noted that a retrospective analysis of the operations of MFBs in the country in the last six years, showed an urgent need for the revision of the guidelines. “In general, the guidelines that adequately address the features and risks of microfinance would effectively support the orderly development and sustainability of the institutions to enable them to achieve microfinance objectives of financial inclusion and poverty alleviation. “The implementation of the microfinance policy over the past six years and the experience gained, underscore the need for the review of the existing regulatory and supervisory guidelines. This second edition addresses current realities and developments in the sub-sector. This document is, therefore, aimed at promoting innovative, rapid and balanced growth of the industry, leveraging on global best practice in microfinance banking. “These guidelines recognise the distinctiveness of micro clients, ownership structure of the institutions, their credit methodology, and the central position of savings/deposits in the intermediation process. It also adopts measures to ensure the soundness and safety of the institutions, and the protection of depositors, especially low-income clients. Also, it defines institution types, loan documentation, portfolio classification, loan loss provision and write-offs, amongst others, and provides the basis for the establishment, operations, regulation and supervision of microfinance banks, and institutions.” BC

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Business Courage

Monday, January 14, 2013

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Benabo

Why we returned toxic laden vesselNESREA By Francis Ezem

he National Environmental Standards and Regulations Enforcement Agency (NESREA) has said that its decision to order the return of MV MARIVIA laden with some electronic wastes comprising of used fridges, television sets and other items was because the carriage of such wastes contrives some sections of the Harmful Waste Act of 1983. The Act was promulgated in 1982 at the wake of the dump of some waste materials in Koko, Delta State, by some fraudulent suspected to have indulged in foreign exchange scam. NESREA had following a tip off arrested and detained the vessel from the United Kingdom, which berthed at the Tin Can Island Container Terminal, located within the Tin Can Island Port Complex loaded with two units of 40foot containers, which on examination were confirmed to be laden with such electronic wastes. Director General of the agency, Ngeri Benabo, who spoke at the weekend in Lagos on the return order on the Liberian Flagged vessel, noted that apart from contravening environmental regulations laws and regulations in Nigeria, the return of the vessel would send a warning signal to other fraudulent importers intending to bring in such consignments into the country.. According to her, by returning the vessel, the importer and shipping company would bear the cost of the return, arguing that allowing the waste into the country will be at a cost to the Nigerian government She noted that the return would also served as a bitter lessen to the shipping that brought in the consignment because even if it not going to incur direct financial losses, it will suffer some

inconveniences in returning the consignment, as it would at least make an unplanned stop at the port of loading the consignment. The two containers with numbers ECMU 9894510 and ECMU 9870858 which originated from Tisbury Port in London are now firmly in the custody of security officials at the Tin Can Island Port. The National Toxic Waste Dump Watch Committee had about 24 hours after the arrest and detention of the vessel, confirmed the development, saying it was at a loss as to why the vessel escaped arrest at the port of loading. The committee headed by the DG of NESREA with membership drawn from the Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency, State Security Services (SSS), The Nigeria Police, Navy, Port Health Services and Quarantine Service had inspected the two 40-foot containers. They were however discovered to be loaded with hundreds of second electronic equipment poorly packed with no cords and in end-of-life condition. It was also gathered that there was no certificate of clearance to show that the hazardous products were tested before the shipâ&#x20AC;&#x2122;s departure from the port of origin in the United Kingdom. Experts believe that the e-wastes are considered dangerous to human health. It was also gathered that the importers of the deadly cargo, Ronuk David and Messrs Bonick Investments Ltd, who have been traced to Umezime Street, Alaba International Market are nowo in security net. Security sources disclosed that the suspects are however helping them in investigating the matter, especially the circumstances that led to the escape of the vessel from the port of origing without being noticed. The NESREA-boss however

insisted that the agency is determined to ensure that Nigeria is not used as dumping ground for toxic wastes. But some officials of the various security agencies that participated in the examination of the ill-fated containers expressed reservations at the level of alarm raised the NESREA-boss. According to them such alarm might be construed by the world that other agencies are not working arguing that there have been arrest and detention of ships laden with offensive items. They had argued that most of those items are prohibited and would eventually have been seized by the relevant agencies at the port as has been the case in the past.

13 of the expected ships would arrive with petroleum products. The document indicated that 12 ships would sail in with new vehicles while three would sail with used vehicles. NPA said that the ships would sail in with used and old vehicles, fresh fish, containers, bulk sugar, general cargoes, steel product, base oil, caustic soda, ethanol, semi trailer, boat, and petroleum products.

Dakingari

Kebbi flags off N877m township roads

G Kabir Mashi, acting Chairman, FIRS

Nicon Insurance, IGI, others drag FIRS to tribunal over N1.15bn excess tax

Abdullahi

17 ships to discharge petroleum products in Lagos ports

eventeen ships are waiting to discharge petroleum products at various oil terminals in Lagos ports, the Nigerian Ports Authority (NPA), has said. This is contained in the `Shipping Positionâ&#x20AC;&#x2122;, a daily publication of NPA, made available to newsmen on Friday in Lagos. The document indicated that seven ships out of the 17 ships would be discharging petrol; three would discharge aviation fuel, while one ship would be discharging diesel. It also stated that four ships would be discharging kerosene while one ship would be discharging ethanol. The document also indicated that 11 ships are waiting to discharge bulk sugar, rice, containers of used vehicles and general cargo. The document reported that 86 ships carrying different cargoes would sail into the ports between Jan. 11 and Jan. 30. It also said that that

icon Insurance Plc and 43 other underwriting companies have asked the Tax Appeal Tribunal, Abuja to prevail on the Federal Inland Revenue Service (FIRS) to refund N1.15 billion overpaid stamp duties. The underwriters had dragged the FIRS to the Tribunal over the non-refund of the overpaid stamp duties to the respondent between 2002 and 2006. The appellants include Continental ReInsurance Plc, Industrial and General Insurance Plc, Royal Exchange Assurance Nig. Plc, International Energy Insurance Plc, LASACO Assurance Plc., ADIC Insurance Ltd. and Standard Alliance Assurance Company Ltd. The insurance companies in an appeal filed through their Counsel, Prof. Taiwo Osipitan (SAN), alleged that the appellants paid the excess stamp duties to the Federal Government through FIRS between 2002 and 2006. While given evidence, the prosecution witness, Awodeji Awobuyide told the court that the amount in question was an overpaid stamp duties paid by the appellants within the period. Bright Igbinosa, the respondent counsel applied for adjournment to enable him study the documents for cross examination of the prosecution witness. In his ruling, the acting Chairman of the Tribunal, Nnamdi Ibegbu (SAN) granted the application and adjourned the case to March 5 for continuation of hearing.

overnor Saidu Dakingari of Kebbi has commenced the construction of N877million township road in Bunza, Bunza Local Government area. Dakingari said construction of the five kilometres road was aimed at bringing development to the rural areas to boost social and economic development. He said the State Government and Bunza Local Government contributed N162 million as compensation to land and property owners affected by the project. The governor said that his administration would construct hospitals, schools and five kilometres township roads in each of the 21 Local Governments. Earlier, the Commissioner for Works and Transport, Bello Tuga, explained that the project was expected to be completed within 12 months.

Jang

Jang decries payment of taxes to wrong agencies

overnor Jonah Jang of Plateau has appealed to residents to pay taxes to the State Internal Revenue Board rather than to the wrong agencies. Jang made the appeal while declaring open a sensitisation workshop on Taxpayer Identification Number, (TIN) organised by the Joint Tax Board in collaboration with

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News the Plateau Board of Internal Revenue, in Jos. He said that such blunders had deprived the state of huge revenue. ``This workshop is very timely to sensitise the public on the proper channel of paying their taxes and equally to assist the state in spurring its revenue base. Government uses the revenue generated to give back to the people the desired social amenities as it also brings about the social and economic development of the state,” he said. According to him, nobody should be seen as being forced to pay tax because it is the social responsibility of every income earner. Jang warned tax defaulters to desist from such an act or face the wrath of the government, adding that every kobo counts just as the government accounted for every kobo collected. The governor, represented by the Finance for Commissioner, Davou Mang, said plans were on to introduce land rent as means of generating more revenue for the state. Rauta Jat, the Chairman of Plateau Internal Revenue Board, said the board would involve the 17 Local Governments in revenue collection. ``We believe that with the local governments joining us in the efforts of collecting taxes, we are sure of reaching the N1 billion monthly revenue targets. Our hope is that this workshop will help enlighten the people to respond positively toward paying their taxes,” Jat said. She said that the taxpayers identification card was issued free of charge and each card had its unique number tied to an individual which could be accessed anywhere in Nigeria. The chairman advised the public to jealously guard their cards as a loss would attract a fee of N10, 000 for a replacement.

Fashola warns against reconstructing Okobaba Plank Market

overnor Babatunde Fashola of Lagos has said that the State Government would not allow immediate reconstruction of the razed Okobaba Plank Market in Ebute Metta. The market which gutted the market last Tuesday razed no fewer than 50 makeshift houses and several sawmill in the market. Addressing the traders when he visited the scene, Fashola said the construction of the market would only commence after a new government`s

concessioning exercise in 2006. The terminal management recently announced plans for a further $130 million (N20.15 billion) expenditure over the next three years, including the purchase of eight new mobile harbour cranes and 13 Rubber-Tyred Gantry Cranes (RTGs).

Fashola

Hampton

plan for the market had been issued. He said the age-long chaotic arrangement of the market and the haphazard way in which traders operated probably caused the tragedy, saying that the situation was a threat to lives and properties. ``We are coming to clear the rubble here and nobody should build here without town planning approval. We won`t let you do it. And this is the process to beginning to re-separate sawmill and plank business from other residential activities and gradually we can clean this place up. The governor said after the clean-up, those who still want to stay will be allowed while those who want to move will move. ``We can make this place just the Lagos Plank Market and move the timber people away. But there are so many things we can do here. ``In other places in the world, this is the kind of places we will go and pay money to visit if we organise it properly. ``We have to do business in a way that protects lives and properties. You can save a lot by having insurance on your stalls and buildings. We should begin to do things right,’’ Fashola said. He said a new plank market was being built to resettle some of the traders in the market, saying that the new market would have no fewer than 3,000 homes nearby. While sympathising with the displaced traders and residents, Fashola pledged that the State Government would resettle them briefly in a relief camp where they would be given some relief materials.

from low volume of container imports into Nigeria, the biggest challenge for container terminal operators at present is overcapacity. He said that container volumes were not expected to pick up before the second quarter of the year. He said that container volumes in Lagos recorded a marginal increase of about three per cent in 2012 as against an increase of 25 per cent in 2011. ``We projected 700,000 TEUs (containers) in 2012 but we handled only 650,000 TEUs, a slight increase above the 2011 figure of 628,000 TEUs,” Hampton said. According to him, the terminal now performed more efficiently than ever before with no significant waiting time for vessels to berth. ``We have not had any significant waiting time for vessels for the last nine months and vessels were able to berth at the terminal shortly after arrival at the port. We are also seeing a reduction in imported container dwell time due to a number of reasons including the company’s improved systems for positioning of containers for scanning,’’ the statement said. It explained that the sheer quantity of containers requested by Nigeria Customs for physical inspection remained a challenge, adding that APM Terminals recently introduced a new enhancement for customers who are able to accurately nominate their containers for x-ray scanning prior to Customs confirmation. ``We have always said that if we can have accurate information about which containers need x-ray scanning we can have them scanned much earlier. ``This will allow customers to take delivery of their goods several days sooner,’’ it said. The statement said that the lower volumes of containers and the reduced container dwell time had eliminated the need to transfer containers to off dock facilities. APM Terminals Apapa handles about 75 per cent of the container traffic to Nigeria. It has an investment of $200 million (N31 billion) in new equipment and upgrades at Apapa since the port

APMT predicts low container traffic in 2013

allas Hampton, the Managing Director of APM Terminals, Apapa, has predicted that the low volume of container imports experienced since the second half of 2012 will continue in first quarter of 2013. Hampton who said this in a statement made available to newsmen said that apart

Borno signs agreement on education, agriculture, with Indian firms

he Borno Government has signed an agreement with two Indian companies - Bala Industries Private Ltd and IL and FS Ltd toward improving ICT education and agriculture in the State. Baba Jidda, the Secretary to the State Government (SSG), signed on behalf of the government, while Dr Milan Sharma, Head of Indian Africa Initiatives, signed on behalf of the companies. Jidda who said the agreements were aimed at developing the two key sectors of the state’s economy, traced the agreement to September 2012 when a delegation of the state visited India on an investment drive. ``Today’s event can be traced back to Sept. 2, 2012 when a delegation from the state visited India. During the trip, seven different companies made presentations on their products and services to the delegation. It was based on the presentations that the State Government decided to partner with these companies in the areas of education and agriculture development,’’ he said. Jidda explained that the object was to tap from the Indian experience toward transforming the two sectors. Rajan Menon, the Genearal Manager of Simba Companies, who facilitated the agreements, expressed optimism that the event would yield the expected dividends. ``The first agreement is aimed at technology transfer from India to Borno in the area of agriculture, especially mass poultry production. ``The second agreement is targeted at educational development

Jidda

through ICT,’’ Menon said.

FG, NEXIM Bank set to import 100 rice mills from China

he Ministry of Agriculture and Rural Development has entered into an agreement with the Nexim Bank and the Central Bank of Nigeria (CBN) to bring in 100 rice mills from China. Dr Olumuyiwa Osiname, the Rice Value Chain team leader, who disclosed this in Abuja, said that the mills would ensure that local rice was processed to meet international standard. According to him, the mills will be strategically located in all the states in the country; with each state getting at least two rice mills, with states with higher rice production getting more than two mills. According to him, the first 40 mills will be installed before June 2013, noting however that Nigeria has constraints in rice production. “We have recognised the constraints; first of all, the quality of our rice. Most of them are not long grains and then, they are not being processed right. The manual processing like parboiling, soaking, sometimes give the rice odour, which many consumers don’t like.,” According to him, there are technologies now that can process the rice the same way as they process in India or Thailand. “We will take the stones off, we will take the smell off, we will polish and we will package.” Osiname said that the Federal Government had provided farmers with improved seeds to boost rice production in the country, adding that the seeds were distributed to farmers to ensure that paddy for the mills were of good quality. ``This would make our local rice to be globally accepted.’’ He identified two improved rice varieties as upland and lowland or irrigated systems, adding that the irrigated rice was considered as one of the most promising as it produces the highest yield per hectare of all the rice systems. Osiname said that such rice variety also offered the chance for two croppings per year, noting that the total rice production expected under the Agricultural Transformation Agenda (ATA) by 2015 was 5.1 million tonnes of milled rice. “When the 5.1 million tonnes is added to about 1.3 million tonnes being produced by farmers who did not join the ATA, the total national production of milled rice would amount to 6.4 million tonnes,” he said.

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News against citizens in some other countries like the U.S. could be extradited to America to face trial. He said without collaborations, it would be difficult to fight a crime which had no geographic boundary like cyber crime.

accused forged a document titled “Shore Tank Certificate” dated Jan. 21, 2011 purporting the document to have been issued by an officer of Q and Q Control Services Ltd. They were also alleged to have forged other documents including bills of lading to facilitate the fraud.

Subsidy fraud: EFCC files amended charge against Arisekola’s son, 2 others Ehikioya

NCC urges Nigeria to collaborate with other countries on Internet crimes

r Sylvanus Ehikioya, Director, New Media and Information Security, Nigerian Communications Commission, says Nigeria must collaborate with other countries to check Internet crimes. Ehikioya said in Lagos last Friday that cyber crime was not geographic specific, meaning that it cuts across geographical boundaries. “Since it cuts across boundaries, that means that there are different governments having jurisdiction in cyber governance. This implies that collaborative efforts must be put in place because of the cross jurisdictional issues involved. Even the model cyber crime law being produced by the International Telecommunications Union, there is a section titled ‘International Collaboration Co-operations’. This means that countries must make provisions in their laws to collaborate with other countries,” he said. Ehikioya said measures were being taken to make appropriate frameworks and guidelines in Nigeria to facilitate collaborations with other countries against cyber crime. “The critical ones are the several bills pending at the National Assembly on cyber crime in different formats. The most recent is the harmonised Cyber-Security Bill of 2011 which was done under the auspices of the late Gen. Andrew Azazi (former National Security Adviser). “It is our hope that the particular bill, which harmonises all other bills and incorporates all best practices, is the one that will be passed,” Ehikioya said. The Director said various agencies in the sector were creating policies and guidelines to secure and protect their services to consumers. He said that when the frameworks were completed, Nigerians who committed cybercrime

he Economic and Financial Crimes Commission (EFCC) on Friday filed an amended charge against an oil marketer, Abdullahi Alao, who is standing trial for an alleged N1.1 billion fuel subsidy fraud. Abdullahi is the son of a prominent businessman, Abdullazeez Arisekola-Alao. The amended charge was filed before Justice Lateefat Okunnu of a Lagos High Court in Ikeja. Alao is being prosecuted alongside two other oil marketers, Opeyemi Ajuyah and Olarenwaju Olalusi, and their companies -- Majope Investment Ltd., and Axenergy Ltd. In the amended charge, the defendants are facing an eightcount charge bordering on conspiracy, obtaining money by false pretences, forgery, uttering and use of false documents. The EFCC had earlier on Oct.10, 2012, arraigned the defendants on a six-count charge of conspiracy, obtaining money by false pretences, forgery, uttering and use of false documents. They had all pleaded not guilty to the charge and were granted bail in the sum of N75 million with two sureties in like sum. EFCC counsel, Rotimi Jacobs (SAN), had alleged that the defendants had on Feb.14, 2011, fraudulently obtained N1.1 billion from the Federal Government. Jacobs had alleged that the defendants obtained the money from the Petroleum Support Fund (PSF) for the purported importation of Premium Motor Spirit (PMS) from Europe to Nigeria. Jacobs had further claimed that the

Lamorde

Amosun

NBC, Amosun’s wife empower women in Ogun By Adejuwon Osunnuyi

igerian Bottling Company Limited (NBC), has partnered with the Ogun State Government, through the ‘Uplift Development Foundation’ - the pet project of the Wife of the Governor, Funsho Amosun, seeking to empower low income women in the state. The ‘Uplift Development Foundation’ tallies with The Coca-Cola System’s global ‘5by20’ programme meant to empower five million disadvantaged women entrepreneurs, empowering them through the Coca-Cola value chain by 2020. NBC kick-started the 5by20 programme empowerment of over 100 low income women across Nigeria in Ogun State by providing 50 beneficiaries with product capital, coolers and basic sales training skills. The initiative will help create sustainable livelihood for the beneficiaries and this is expected to have a ripple effect in enhancing the quality of life of their families. Adeyanju Olomola, Head, Public Affairs and Communications, NBC, at the commissioning of the initiative in Abeokuta, said: “NBC is in partnership with Ogun State for the ‘Uplift the Needy Initiative’ because it has long recognized that the wellbeing of its communities and stakeholders is integral to the company’s wellbeing. NBC strives to be a partner for the social and economic development of its communities through various empowerment programmes that are jointly developed and implemented by the communities.” She commended the

enterprising nature of the indigenes of Ogun State and thanked the First Lady of the State for the opportunity granted NBC to implement the company’s 5by20 programme. “The goal of 5by20 is to cultivate the spirit of enterprise such as that of Ogun State indigenes by empowering them through our value chain. Basic sales training for the beneficiaries was facilitated by NBC’s Sales Academy in December 2012,” she further added. 5By20 is an ambitious program of the Coca-Cola Company that seeks to enable the economic empowerment of 5 million women entrepreneurs across the Coca-Cola value chain by 2020. The program leverages opportunities that exist in our value chain and assists these women overcome the barriers they normally face in enterprise. By providing access to business skills, financial services, assets and support networks of peers and mentors, 5by20 is helping women succeed as entrepreneurs, while also creating thriving, sustainable communities. The governor’s wife thanked NBC for the partnership and promised that the initiative will be sustained to ensure more people from the state are empowered in the future. “We thank NBC for responding to our invitation to partner with us, as we strive to eradicate poverty among the people. We believe that when you empower a woman, you invariably empower the family,” she said.

Taraba to establish industrial layout to encourage investors

he Taraba Government on Friday said it would establish industrial layout to boost economic activities and enhance internally generated revenue. Augustine Katakata, the state Commissioner for Commence and Industry, disclosed this during the ministry’s budget defence in Jalingo. Katakata said the ministry had generated N2 million in 2012, adding that it would enhance effort to improve its performance for the development of the state. ``We will establish industrial layout in Jalingo as a practical step towards enhancing our revenue generating capacity. Our ministry generated N2 million in 2012 but we know we can do better,” he said. N132.8 million was appropriated for the ministry in the 2013 appropriation bill. The chairman of the

state Assembly Committee of Commerce and Industry, Yahaya Abdulraman, urged the ministry to initiate policies to enhance revenue generation.

Choi

South Korea donates rice milling machines to flood victims

outh Korea on Friday in Abuja donated 20 rice milling machines valued at $200,000 to be distributed to victims of flood in three states. Making the donation on behalf of the Government of Korea, its Ambassador to Nigeria, Jong-hyun Choi, said it was in fulfilment of an earlier promise to assist the victims. He said the millers were durable and could process 300 kilogrammes of rice per hour. Jong-hyun expressed the hope that the donation would help affected farmers in benefiting states to overcome their plights and distress. ` “A total of 20 rice millers are being handed over to the National Emergency Management Agency (NEMA) for victims in Bayelsa, Kogi and Benue states,’’ the ambassador said. Receiving the machines, NEMA’s Director-General, Mohammad Sani-Sidi, commended the gesture of the Korean Government in responding to the plight of victims of the flood. He said that the donation was a testimony to the historic friendship and mutual cooperation between both countries. ``There is no doubt that this kind gesture in the provision of rice milling machines will go a long way in aiding the recovery of our local farmers, who have lost the capacity to sustain their means of livelihood. ``I am also happy that you have made arrangements for the test running of the equipments and to provide the basic tips on their operations. ``I promise your Excellency that NEMA is willing to undertake the immediate distribution of the machinery to the identified states together with the officials of the Korean International Cooperation Agency (KOICA),’’ he said.

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News Sani-Sidi also solicited the assistance of South Korea in capacity building and training on emergency management and disaster risk reduction for Nigeria.

Tanon

Babalola

Nigerian waterways free of piracy – Spanish Navy Commander

t-Cdr. Tanago De La Lastra, Commanding Officer, Spanish Navy, has said that robbery and kidnapping were the major challenges facing naval officers on Nigerian waterways rather than piracy. Lastra said this when he paid an official visit to officers and ratings of the Western Naval Command, Lagos. The commander commended the Nigerian Navy, and described its officers and ratings as professionals who were capable of providing security not only within its territorial integrity, but to the entire gulf. ``The security situation at the Gulf of Guinea is improving as piracy, sea robbery and kidnapping is declining, `` he said. Apart from Nigeria, Lastra said that his team had visited Somalia, Angola, Mozambique, Cameroon and South Africa. Lastra said that their visit to Nigeria would strengthen the relationships between the two countries, especially in areas of training of officers. The Operational Officer of the Western Naval Command, Real Adm. Henry Babalola, said that Nigeria was ready to partner with any navy for the safe keep of international waters. Babalola stressed that the security of the nation’s waters remained paramount to the Nigerian navy and the government.

Ecobank assures customers of friendly operation in 2013

cobank Plc has assured its customers that its focus in 2013 would be to ensure

strong service and enhanced operations. This is contained in the New Year message issued by the Chief Executive Officer of the Bank, Thierry Tanon. ``I would also like to take this opportunity to emphasise how much we at Ecobank value you as our customers. Over the next few years, our strategy will focus strongly on customer service and, as part of this effort, we aim to improve our personal relationship with you,’’ Tanon said. He urged customers to always send feedback to the bank on any new development and on areas they would want the bank to improve on its services. Tanon said the bank was in the process of implementing a comprehensive system to enable it to get direct feedback from customers. ``I am delighted to announce the first step. On Feb. 1, we will set up ceo@ecobank.com – an email address for you to contact my office directly. We welcome any comments, questions or criticisms you have, and our complaint management system will ensure your message receives a prompt response.’’ Tanon advised customers to make effective use of the channel and assured continued development and improvement on product and services.

FG sets up technical committee on Transmission Companies

he Federal Government has set up a technical committee to address the widening gap in energy delivery to Transmission Companies and payment for such deliveries. Vice President Namadi Sambo who disclosed this last Friday in Abuja told the committee to assign Accounting Efficiency Officers to the distribution companies, and charged the committee to come up with a suitable structure for the Market Operator Office companies. Members of the committee

include the Minister of State for Power, the Director General of Budget, and Chairman, National Electricity Regulatory Commission (NERC). Others are Market Operator, Transmission Company of Nigeria (TCN), and Chairman, Task Force on Power. The committee has one week to submit its report. The Vice President also directed the release of funds for the payment of the salaries of members of staff of the Distribution Office of the PHCN in Yola. Sambo gave the directive at a meeting he convened to address the challenges facing effective and efficient supply of power across the country. He specifically directed the Ministry of Power and the Presidential Task Force on Power to ensure the release of the funds. Sambo ordered them to address the issues of salary, metering, payment for gas and other infrastructural needs in order to boost power supply. He frowned at the idea of keeping transformers in the stores instead of mounting them to meet the need of power consumers.

Jonathan

Chief Executive Officer for CitiGroup Cameroun. ``Kuye has over 21 years of local and International banking experience with over 10 years at Senior Management level. ``He holds First Class Honours’ Degree in Chemical Engineering from the University of Lagos and several certified Professional Certificates in specific banking core areas. ``He was an active member of the Special Committee set up by the Minister of Trade and Investment for the Reform of Free/Export Processing Zones in Nigeria,`` the statement said. It said that Kuye’s appointment took immediate effect.

Sovereign Trust deploys cutting-edge technology to raise operational efficiency

Sambo

Jonathan approves appointment of O Kuye as MD, NEPZA

resident Goodluck Jonathan has approved the appointment of Oluwagbemiga Olatunde Kuye, as the Managing Director of the Nigeria Export Processing Zone Authority (NEPZA). This is contained in a statement issued by Udo Akpan, the Chief Press Secretary to Olusegun Aganga, the Minister of Trade and Investment, on Friday in Abuja. The statement said that until his appointment, Kuye was the Executive Director, Operations and Technology, at Ecobank Nigeria Plc between 2009 and 2012. It said that Kuye spent the bulk of his career in CitiGroup where he became the Vice President responsible for Central Africa Operations and Technology, before becoming the Deputy

overeign Trust Insurance Plc has announced plans to drive the implementation of its new business model with cutting-edge technology in order to shore up operational efficiency. Head of Information Technology and Strategy of the company, Lekan Oguntunde said that “any forward-looking organisation must have real time, cutting-edge technology at the fulcrum of its business operations and that, is what Sovereign Trust Insurance Plc has adopted in pushing the frontiers of its operations beyond the shores of the country.” He noted that the company had identified that “21st century technology is the hallmark and arrow-head of any successful business which was what informed the company’s adoption of secondto-none business application software in the insurance industry known as Eskadenia in 2009 with several upgrades over the years to ensure seamless world class service delivery to the teeming customers of the underwriting firm.” According to him, the

Eskadenia Software was developed using an ObjectOriented programming language which was designed to automate the General Insurance policy life cycles of the company’s customers, reduce operational gridlock, enhance job quality, maintain up to-date historical data on all businesses generated while ensuring high level of customer confidentiality and security. Oguntunde said that in order to meet all the functional specifications and technical capabilities as required by its teeming customers, all necessary enhancements had been made on the Eskadenia Software to accommodate the recent changes and ensure the successful execution of the new business model. He said, “tapping into up to-date technology can yield plethora of opportunities which will yield dividends as well as create cost effective measures in which the company plans to utilize optimally to the benefit of stakeholders and the organisation as a whole.” The Managing Director of the company, Wale Onaolapo said that the newly adopted business model will latch on greatly on the benefits of the 21st century technology in enhancing the performance and the profitability of the organisation in creating wealth for the various shareholders. The company said that in furtherance of the implementation of the adopted business model, technology, especially the social networks would be employed in reaching out to the insuring public while at the same time use the medium to sensitize Nigerians both home and abroad on the benefits of taking up an insurance policy in whatever capacity. He said Sovereign Trust Insurance Plc would continue to provide insurance and financial risk- based management solutions that will strategically position the company as a market leader in the Insurance Industry and consequently impact on the fortunes of its teeming customers. BC

Onaolapo

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Global News

Mugabe

Impala Zimplat to sell stake to Zimbabweans for $971 million

million. Anglo American Platinum (AMSJ.J), the world’s largest producer of the metal, also agreed to transfer a majority stake in its Unki mine to locals in a $142.8 million deal last November. Zimbabwe has the largest known platinum deposits after neighbouring South Africa although the 51 per cent local ownership law has taken the shine off the country as an investment destination. Kasukuwere is also leading a push to force banks to comply with the ownership laws, and said at the ceremony that foreign banks would not be spared.

mpala Platinum (IMPJ.J), the world’s second-largest platinum miner, has agreed to sell a majority stake in its Zimbabwe unit to local black investors for $971 million to meet black ownership targets set by President Robert Mugabe. The deal, which will see the Zimplats (ZIM.AX) unit lend the money needed to buy the stake, is Zimbabwe’s largest local ownership transaction and a major scalp for Mugabe’s controversial black economic empowerment push, the centrepiece of his campaign for re-election in polls due this year. Under the deal, Implats will transfer 51 per cent of Zimplats to Zimbabwean investors as follows: 10 per cent to the community, 10 per cent to Zimplats employees and 31 per cent to the state-controlled National Indigenisation and Economic Empowerment Fund. The fund, which officials say has $2 billion of assets, is headed by a former general and administered by Kasukuwere, a senior official in Mugabe’s ZANU-PF party. Zimplats will provide a loan to the new shareholders at annual interest of 10 per cent. The debt is to be repaid through dividends over 10 years while management of Zimplats will remain with the company, Impala said. Implats chief executive Terence Goodlace said the company had confidence in Zimbabwe and was committed to a $460 million expansion of Zimplats’ operations. “I am, during these uncertain economic times, excited about the future of Zimplats and platinum mining in Zimbabwe,” he said, adding that “The uncertainty that has dogged Zimplats during the negotiations is now hopefully a thing of the past.” Last month, Implats and Aquarius (AQP.AX) signed another deal to sell 51 per cent of shares in their Mimosa joint venture to comply with the black empowerment law in a transaction worth $550

Abe

Japan approves $116bn stimulus package

he Japanese government has approved a fresh 10.3 trillion yen ($116bn; £72bn) stimulus package in an attempt to spur a revival in its economy. The package will include infrastructure spending, as well as incentives for businesses to boost investment. Tokyo estimates that the stimulus will boost Japan’s economy by two per cent and create 600,000 jobs. Japan’s economy has been hurt by a dip in exports amid slowing global demand and subdued domestic consumption. The world’s third-largest economy is currently in a recession, having contracted for two quarters in a row. “Unfortunately, the previous administration failed to work out how to boost growth and expand the economic pie,” Prime Minister Shinzo Abe said, adding that “It is vital that we have an economic strategy that can create jobs and raise incomes to sustain growth.” Included in the spending package are plans to rebuild areas devastated by the earthquake and tsunami of 2011, support for regional economies, and more investment in education and social security.

Abe, who took office in December, has promised to take aggressive measures to help put the economy back on a growth track. Among those has been a pledge to take measures to weaken the yen. A weaker Japanese currency bodes well for the country’s exporters as it makes their goods less expensive to foreign buyers and also helps boost their profits when they repatriate their foreign earnings back home. The yen has weakened nearly 12 per cent against the US dollar since November last year on hopes of such moves. It was trading close to 88.97 yen against the US dollar in Asian trade on Friday. The government said that it would continue to keep a watch on the currency’s movements and “respond as appropriate”. The Japanese government also hopes the latest stimulus spending will help to tackle deflation. Japan has been fighting deflation, or falling prices, for many years. It has been a big hurdle in policymakers’ attempts to boost domestic demand because consumers tend to put off purchases in the hope of a better deal in the future. However, some analysts said the stimulus was only a short-term solution to Japan’s economic issues. They said that while such an big amount of money being injected into the economy was likely to help spur growth, further steps were needed to sustain it in the long run including measures to help exporters and reforms aimed at boosting domestic consumption. “So far what we have seen is measures to kick-start the economy,” Martin Schulz of Fujitsu Research Institute told the BBC.

United Kingdom, UK, economy shrank in Q4 of 2012 – NIESR

he National Institute of Economic and Social Research (NIESR) has said that the UK economy contracted 0.3 per cent in the last three months of 2012. NIESR blamed it on artificially strong growth in the third quarter. If the figure is confirmed by official data later this month, it will mean that the economy returned to growth for only a single quarter. It would also mean the economy saw zero growth for the whole of 2012. All tickets for the Olympics and Paralympics were considered in the official statistics to have been bought in the third quarter of 2012, when the games took place.

Jonathan Portes

That flattered the economy, which registered growth of 0.9 per cent in the three-month period. It meant that without the one-off factor the economy would have had to find considerable growth from elsewhere to avoid a contraction in the final three months of the year. NIESR said that without the one-off factors the economy would have been basically flat for the third and fourth quarters. The conclusion from the NIESR is supported by some gloomy official figures released earlier in the day. The index of production grew 0.3 per cent in November, compared with October, but had been expected to grow more as some North Sea oil and gas production resumed following maintenance. Construction sector output contracted 3.4 per cent in the month but both sectors are much smaller than the service sector, which posted 0.1 per cent growth in October compared with September. Official figures for the service sector for November have not yet been released, but the widely-watched Markit/ CIPS purchasing managers’ index showed the sector growing at its slowest pace for two years in the month.

American Express, Honda cut 6,200 jobs

parts of the business as more customers make payments online or via mobile. It added that the job losses would be spread proportionally between the US and international markets. The charges include restructuring costs of $287 million mostly related to redundancy payments, $212 million for Membership Rewards expenses and $95 million for card member reimbursements In the fourth quarter, spending by card members was eight per cent higher than a year ago, the company said, “despite a brief dip in late October/ early November reflecting the impact of Hurricane Sandy on consumers and businesses in the north-eastern United States”. In a similar development, Honda says it is planning to cut 800 jobs at its Swindon plant, blaming weak demand across Europe. The Japanese carmaker, which began manufacturing there in 1992, has been hard hit by the eurozone crisis. The Swindon plant, which produces the Civic, Jazz and CR-V models, employs 3,500 people, having added 500 to the workforce a year ago. Honda has begun a 90-day consultation period on the job cuts and says it hopes to avoid compulsory redundancies. “Sustained conditions of low demand in European markets make it necessary to realign Honda’s business structure,” the company said in a statement. It added that demand for cars in Europe had fallen by one million in the past year. But Honda said it was still committed to manufacturing in the UK and Europe in the long term. The Swindon plants built 166,000 cars in 2012, which was well below the capacity of 250,000. BC

merican Express has announced plans to cut 5,400 jobs worldwide from its total workforce of 63,500 by the end of 2013. The credit card provider said it took almost $600 million (£370m) in after-tax charges in the fourth quarter of 2012. The company said that these charges would halve its net profit for the quarter from $1.2 billion to $637 million. It said the majority of the job losses would be in its travel business, which is being “fundamentally reinvented as a result of the digital revolution”. American Express Ken_Chenault said it had to adapt

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A rare

gem He had deep admiration for the U.S. military and had desired to join the US Marine Corps when he got into the United States of America at the age of 18. But that ambition did not materialise as fate thrust on him, another greater job that was to later throw him up among great men of ideas and innovation. This is the story of 37-year old Yemi Adesokan, whose exploit in the field of scientific research has placed Nigeria’s name conspicuously on world map Adesokan

By Adejuwon Osunnuyi

reat men are noted to have always gone the extra miles to achieve success in their respective endeavours. And just like such great men abounds across the globe, Nigeria, the self-acclaimed Giant of Africa has its own fair share of these great minds who have continued to excel in their various fields of endeavour, at home and in the Diaspora. Yemi Adesokan, the 37 yearold award-winning, Harvard trained US- based Nigerian born-scientist cum researcher

belong, to this exclusive group. As a scientist and entrepreneur with experience in the development and optimization of multiplex capture and highthroughput genome sequencing technologies, it was this Nigerian youngster’s company, Pathogenica, that invented DNA sequencing technologies for medical tests. According to experts, Yemi’s discovery has potential to change the way mankind responds to disease pathogens and has the capacity to eradicate the era of increased burden of drug resistance in the world particularly, in the sub Saharan Africa.

Yemi grew up in Okupe Estate Maryland, Ikeja, Lagos and attended Maryland Convent Private School for his Senior Secondary School Certificate in 1989 which he later completed in 1994 at the Command Day Secondary School, Ikeja. He left the shores of Nigeria at age of 18 in 1996 for the United States of America where he later became a citizen. When he moved to United States, little did the young Yemi realise that he was was merely preparing the ground for a lifetime achievement that will make him rub shoulders with some of the greatest names in scientific technology.

Today, Yemi is an industry consultant with extensive experience in providing strategic advisory services to Fortune 500 life-science companies. He holds a B.Sc degree in Biology from the University of Houston and PhD in theoretical chemistry from the University of California, Irvine. In 2009, as a post-doctoral researcher in the prestigious Harvard University in the United States, Yemi collaborated with an American molecular geneticist, George Church to invent a diagnostic application which they called Pathogenica to boost DNA sequencing technologies. Prior to that,

he had pioneered the development and implementation of the BioWeatherMap project, an initiative that collects real-time assays and uses them to track and limit viral outbreaks and antibiotic resistance in the developing world. Yemi started Pathogenica, chiefly because he saw a unique commercial opportunity whereby he could provide physicians with a diagnostic tool that will enable the provision of better patient care. Pathogenica’s test kits are able to identify the presence, allowing for physicians to screen for multiple diseases with accurate results and a rapid turnaround. Continue on pg A10

Business Courage

“I founded pathogenica with genomics pioneer and Harvard Prof George Church in 2009 in order to commercialise applications of pathogen sequencing,” Yemi said in a recent interview. Yemi’s Pathogenica’s technology is quite significant especially to clinical diagnostics as its great impact on the global healthcare industry cannot be underestimated. Diagnostic tests, as being developed by Yemi and his company, could let physicians quickly and cheaply pinpoint features of a patient’s infection, such as whether it is resistant to certain antibiotics, and prescribe the most effective treatment. In essence, when a patient goes to the hospital because of a bad cold or flu, sometimes, the drugs might not work because of the presence of “resistance mutations”. Pathogenica technology can detect not only the presence of the diseasecausing organism, but also the presence of mutations. The doctor can then give the patient the right medication that will work even with the presence of mutations. The utility of the innovation in clinical practice lies in the low error rate, thereby reducing the number of inaccurate diagnoses due to false positives or the emergence of drug resistance mutations undetected by current methods. This, Business Courage gathered, reduces the occurrence of patient mortality (death) due to misdiagnosed infections. With the coming of the Pathogenica technology, the cost of DNA sequencing has dropped more than 40, 000fold since that time to just $5,000 today. And the price has continued to drop. “We are applying this fast, inexpensive technology in a unique way to improve routine clinical diagnostics. The utility of the innovation in clinical practice lies in the low error rate, thereby reducing the number of inaccurate diagnoses due to false positives or the emergence of drug resistance mutations undetected by current methods. This reduces the occurrence of patient mortality (death) due to misdiagnosed infections. In addition, the technology does not require cultures as samples. TB samples can take over one week to culture. We can demonstrate diagnostic results in a single day. This would reduce the spread of TB. In the case of HPV (Human Papilloma Virus), which causes cervical cancer and other types of cancers, this technology can be used for detection with a very low occurrence of error,”he noted. Of course, Yemi teamed up with a right person Professor Church who has greatly influenced the Nigerian youngster,. In real fact, Church seemed to have been the best choice

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Monday, January 14, 2013

We are applying this fast, inexpensive technology in a unique way to improve routine clinical diagnostics. The utility of the innovation in clinical practice lies in the low error rate, thereby reducing the number of inaccurate diagnoses due to false positives or the emergence of drug resistance mutations undetected by current methods

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for Yemi to work with, because it was Church who, in 1984, with another scientist, Walter Gilbert that developed the first ever direct genomic sequencing method and also helped to initiate the Human Genome Project as a Research Scientist at the then newly-formed Biogen Incorporation in the US. Church is also the man who invented the broadly-applied concepts of molecular multiplexing and tags, homologous recombination methods and DNA array synthesisers, among

many other inventions to his credit. This, coupled with their invention on clinical diagnostics had brought a great breakthrough to the science world, especially the medical field. Pathogenica’s initial efforts had focused on detecting the microbes that cause urinarytract infections. Its researchers are also developing tests to analyze how microbe populations change when someone is treated with new antibiotics or antivirals. Because the technol-

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ogy can detect small changes in DNA, it may be able to reveal early on if a population of microbes is developing resistance to a drug. However, Yemi did not just start this wizardry after his encounter with Church. The initiative indeed started during his undergraduate days. Then, as a Biology undergraduate researcher at the University of Houston, US in 2001, he had predicted the first HIV-Integrase/Viral DNA binding pattern. Then later, as part of his doctoral thesis in theoretical chemistry at the University of California, US, Yemi worked on the development of new forcefields for bimolecular modelling. There, he spearheaded the genomic centres of excellence programme, which included the multi-drug resistant TB analysis and capacity-building initiatives funded by a Gates Foundation Grand Challenges Exploration grant. “To identify these pathogens today, scientists must use expensive DNA tests or grow the microbes from a sample—a slow process that doesn’t work for many bacteria. And both methods often fail to detect small differences in DNA that can have a huge impact on the organism’s virulence and resistance to drugs. Pathogenica’s technology can pick out spe-

cific regions of a pathogen’s genome, such as the genes involved in its ability to infect its host, and sequence many of these regions simultaneously. It minimizes the amount of sequencing, so Pathogenica’s approach will be cheaper, faster, and more precise than existing tests”, says Yemi. Pathogenica’s two-dimensional multiplexing method provides the only effective means to screen thousands of samples and hundreds of unique pathogens in a single day. It also discriminates between pathogen and non-virulent “near neighbour” species with negligible false positive rate. While it adapts to emerging polymorphisms and unknown pathogen variants, it also delivers diagnostic assays for medicine and industry at a fraction of a dollar per pathogen. By his own admission, Yemi’s journey in the field of Biotechnology thus far has been both exciting and challenging. “My doctorate is in theoretical chemistry, so switching to genomics as a postdoctoral fellow at Harvard was frightening for a fleeting second. However, having an advisor like George Church, plain hard work and God’s mercies got me over the initial hump. Biotechnology and genomics, in particu-

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Adesokan

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Recognised for his excellent track record in predicting innovative technologies, and based on his work on the development of fast DNA sequencing technologies for clinical diagnostics, recently, Technology Review selected him in the TR35, MIT Technology Review’s annual list of 35 top innovators under the age of 35

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lar, has been a driver of the healthcare industry over the past decade, especially with the completion of the human genome project which has catalyzed the emergence of the field of personalized medicine. I and the Pathogenica team feel very fortunate to be at the fore front of the genomics revolution,” he said. Recognised for his excellent track record in predicting innovative technologies, and based on his work on the development of fast DNA sequencing technologies for clinical diagnostics, recently, Technology Review selected him in the TR35, MIT Technology Review’s annual list of 35 top innovators under the age of 35. The TR35 award is presented each year to 35 innovators under the age of 35 whose “accomplishments are poised to have a dramatic impact on the world.” The TR35 recognises the world’s top innovators, spanning energy, medicine, computing, communications, nanotechnology, and other emerging fields. Past recipients have included Sergey Brin (Google), Mark Zuckerberg (Facebook), and Konstantin Novoselev (a Nobel Laureate in Physics). Of course, Yemi could not but felt honoured and excited to have been named among

the world’s top 35 innovators. “When I googled TR35 to review the list of individuals such as Mark Zuckerberg (Facebook), Sergey Brin (Google) and Konstantin Novoselov (Nobel Prize Winner in Physics) that have made the cut over the last five years, I felt honoured and humbled to be considered among such greats. The successes of the TR35 innovators over the last few years show that the MIT Tech Review has a pretty solid track record of predicting emerging technologies and in-

novators,” he said. Bolstered by the honour, Yemi says his dream is to continue to work as fast and as hard as ever before to commercialize the technology globally as he noted that “this is no time to rest on our oars.” Yemi is not thinking of advancing medicine and technology in the US and Europe alone. The Nigerian blood still flows passionately in him as he has expressed his resolve to make impact in Nigeria as well.“I would love to have our

products in Nigeria. Please be on the lookout for Pathogenica’s sequence-based tests for HIV diagnostics. We are in talks with various groups in Nigeria to implement this. It will be in place very soon,”he noted. Health experts who spoke with Business Courage on the possibility of adapting Yemi’s invention said it will help address one of the major issues in the health sector in Nigeria today. According to them, the fears that some of the sterilised water being used for many patients might really have contained harmful pathogens would be addressed by the Pathogenica technology which is said to be useful in screening a range of pathogens in water, livestock (poultry, etc.), and in food manufacturing. Yemi is looking forward to partnering with the Nigerian private and public sectors, particularly in the area of Tuberculosis which is not an issue in the US market. “We plan to visit Nigeria soon to give some presentations on the utility of our technology, particularly in the case of drug-resistant infections,” he said. Yemi believes that the Nigerian government can still do more in terms of encouraging young innovators embarking on various ground-breaking researches, noting that the establishment of technology incubators to nurture and fund young companies would be a good starting point. “There is need for the government to send science and technology representatives to scout out new innovations worldwide, and encourage private sector venture capitalists to invest in local technology innovation,” he noted. Significantly, Yemi’s pathogen sequencing analysis company, Pathogenica is already spreading its tentacles wide beyond the US market. The company recently announced its first product, a hospital acquired infection (HAI) BioDetection Kit and has also signed an agreement with Life Technologies, Japan to launch and distribute it in that country on the Ion Torrent platform. The kit is based on Pathogenica’s DxSeq technology platform, a DNA sequencing analysis product that can identify infectious disease with high accuracy, at high specific strain resolution and at a scale that makes hospital-wide testing practical. The kit can test more than 12 different pathogens and 15 resistance gene families in a single assay; and up to 12 patient samples can be tested per sequencing, enabling dozens of samples to be tested in one day. The kit is marked for research use only and works with any DNA sequencing platform and not to diagnose hospital patients.“Current methods for

detecting causative organisms can take up to two days for results and are limited in their ability to discriminate between hospitaland communityacquired infection or to identify organisms beyond a small group of common pathogens,” Yemi, CEO of Pathogenica, said. Yemi said that “For effective surveillance and control of HAIs, it is necessary to identify the causative organism, while also providing high-resolution sequence data that includes strain identity and resistance genes. We have developed a low-cost sequencing assay that can address both these needs and deliver results in less than 12 hours.” According to Yemi, “Pathogenica’s bio-detection system for hospital acquired infections has the potential to radically improve HAI management, rendering traditional testing methods obsolete,” The reduction of mortality rate, and economic burden, of HAIs could be significant.” According to the Centers for Disease Control, each year in the United States, about one in 20 hospitalized patients will contract an HAI, leading to 100,000 deaths and adding $4.5 billion in healthcare costs. The Pathogenica kit has reagents for identifying pathogens and drug resistance markers per sample including: Acinetobacter baumannii, Clostridium difficile, Escherichia coli, Enterococcus faecalis, Enterococcus faecium, Enterobacter aerogenes, Enterobacter cloacae, Klebsiella pneumonia, Proteus mirabilis, Pseudomonas aeruginosa, Coagulase negative staph (epidermis, saprophyticus), Staphylococcus aureus, and common beta-lactamase resistance genes, mecA, and the vanA gene family. “Making hospital care safer is a global priority,” added Adesokan. “Our partnership with Life Technologies provides access to many hospitals in Japan where together we can help to begin controlling the spread of infection very quickly.” Pathogenica is not a labour intensive endeavour as it only has about 20 employees in its payroll and it recently moved to its new 5,000-square-foot space in the Boston Design Centre. Though Yemi would not be drawn into disclosing his net worth, investigations have revealed that the Harvard-trained scientist currently worth several millions of dollars. However, like every business, Yemi was also confronted with the challenge of funding, a major killer of many start-ups but he admitted that the never say die spirit and the environment where he started from (US), helped his course tremendously. BC

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ThebuddingEntrepreneurs

The Social Entrepreneur He is just 24 and currently receiving rare reviews across the globe, he’s dubbed “Nigeria’s budding Mark Zuckerberg” by Forbes. His first endeavour was the Student Circle Network, an educational social network for college and high school students which he founded in 2010 is now, Beni American University (BAU), a 21st Century online University with strong emphasis on technology, web 2.0 and entrepreneurship. He is Nigeria’s US-based Gospel Ukanwoke By Semiu Salami

s at the time he got started, the idea really was not to be an entrepreneur, he wanted to be able to take decision and make those decisions happen. As a teenager, the idea of entrepreneurship was somehow alien to him. “Well, I wouldn’t say I have always wanted to be an entrepreneur, but I’ve always wanted to be able to make decisions; not only on what should happen but how I should make it happen. At that time, I didn’t understand what entrepreneurship meant” confessed Gospel Ukanwoke, the US based Nigerian social entrepreneur who at just 24, has attained significant milestone in the area of social entrepreneurship. Gossy, as he is fondly called, had founded the Student Circle Network (SCN), in North Cyprus in June 2010, as a personal project, built as a collaboration tool for students at his university campus. SCN is a member of the OpenCourseWare consortium of member universities across the globe offering free educational services to students in Business, Computing, Engineering, Sciences and Humanities. The network became popular in more campuses within the North Cyprus and became open for students in West Africa after it was featured on Venture Capital for Africa and African Innovators. It also became open in Brazil after it was featured in Hoje Em Dia of Brazil and other European news sites on how the network is creating a learning environment for students. By December 2010, just six months after take-off, it became open to all students across the globe. Currently indexing over 10,431 academic courses from over 200 OpenCourseWare member universities across the globe free to students, Students Circle has grown to become a world known social network and has been featured on several news media worldwide and has been referred to as “Africa’s Top Tech Entrepreneur” by ITNews Africa in 2011. SCN started off as a social network providing educational help for students on the same campus with Gossy, but when requests from other schools

Ukanwoke

started coming in and people started getting interested because users were talking about the website to their friends, Students Circle had to change its focus to a global one. Today, Students Circle is an academic network for students, teachers and institutions. First, it provides a space for students to be able to interact and have access to resources that can help for independent study or group-study. It is a place where students can ask questions and find solutions to their academic difficulties. Secondly, SCN is a platform where teachers can do two things: get access to resources they can use to add to their own academic contents and interact with their students. Finally, the platform creates avenue for institutions where they are able to connect directly with their students through groups. However, bolstered by the feat achieved by SCN within a short period and the urge to help address the issue of inadequate openings for African, particularly Nigerian students seeking admission to her institutions, Gossy established the Beni American University (BAU), a web-based university with the vision of ensuring that education is made available without boundaries to students of all

backgrounds, ethnicity, age, sex, religion and income.

The idea, according to Gossy, was conceived through a

thought process of finding a way to use technology to solve the problem of education in Nigeria. “It became even more interesting to find out that I am not the only one who was concerned about the issue. I decided to bring all these people together to form a group of young Africans who are working towards this change. This movement birthed Beni American University,” he said in a recent interview. As the Founder and President of the institution, Gossy is overseeing all affairs of the institution, from academics and international initiatives / collaborations, to admissions and student life, and is responsible for setting future goals and pathways for the university. His vision is to transform how education is provided and make it readily available for people who otherwise might not have access or the resources for an education. BAU is a hybrid university that uniquely combines the advantages of the online platforms

Management Principles

Low-risk ways to a business

hile it’s impossible to avoid all risk when starting a business, careful planning can help get businesses up and running with a minimal amount of risk. These six strategies can help reduce your exposure while at the same time saving you money and headaches during your business’s early stages. *Start your business from home Choosing a business location requires you to lock yourself into a lease and pay rent, utilities, and other costs for the space. But many types of businesses can just as easily be operated from home. By running your business from home, you not only save the overhead costs of commercial space, but you also save the time and money you would normally spend commuting, which can boost productivity. *Start your business part time If your schedule allows, you can start a business while keeping your full-time day job. This gives you the cushion of a regular paycheck and benefits from your job until your business is making enough to support you. If running a business and working full time is too much, consider getting a part-time job to pay the bills while you launch your business. Look for part-time work that has flexible hours to give you time for your business. You can even turn it into a business education; for instance, if you’re starting your own fashion-design company, get a part-time job at a boutique so you can learn the industry from the customer’s point of view. *Start an e-commerce business These days, a retail business doesn’t need a bricks-and-mortar location to succeed. By selling your products online, you can reach a nationwide or even global customer base. You significantly cut your costs, since you aren’t paying rent on a storefront and don’t need to hire salespeople. Depending on how much business you get, it’s possible to run an e-commerce business all by yourself, at least when you first start out. You can also launch an e-commerce site as a way of testing the waters and then expand to a brick-and-mortar location once your sales start to take off. *Buy an existing business If the costs and risks of starting a business from scratch intimidate you, consider buying an exist-

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ThebuddingEntrepreneurs

Ukanwoke

and the stringent qualities of the oncampus learning. As part of the online training, students are required to take their classes, quizzes, tests and projects online, while as part of the on-campus learning, students are required to take their examinations, facilitation, internship, and study offline at its designated centres. Currently, the university runs degree programmes in Business Management, International Business and Management Information Systems and plans to expand its disciplines to include programmes in International Relations, Political Science, Psychology and other Humanities. The Beni American University is structured along three levels. The leadership is made up of a team of eight individuals that handle the dayto-day running of the institution, as well as its growth and quality management. It has an Advisory Council, comprised of highly experienced pro-

fessionals in Business, Technology, Policy and Education, who guide the leadership of the institution in all aspects of running the institution. The Academic Team has over 30 people led by the Rector and the Vice Rector for Academics which handle all aspects of teaching, learning and management of the academic facet of the institution. “We are all motivated in different ways, yet we are united by the single vision and goal of educating the under-served members of the community, most especially those in Africa. It is very encouraging to see different individuals from different backgrounds work with determination towards this goal,” he said. Gossy heads the Business and Technology developments of the university. The Rector, Prof. Payne has headed faculties in Europe, United Kingdom and the United States in over 40 years while the Vice Rector, Prof. Tanseloglu is also

ing business. Although investing significant amounts of money up front can be risky, that’s mitigated by the fact that you will be buying a business where the location, employees, customer base, and systems are already established. Since you won’t have to go through the trial-and-error you would with a brand-new business, you’ll save time, effort, and money. You’ll want a business that has proven itself successful and stands a good chance of thriving under new ownership. Enlist a business broker to help you find the right one and have your lawyers and accountant help you with the due diligence. If you do your homework, you’ll be buying a known quantity and greatly decreasing your risk of failure. *Buy a franchise In a franchise, you pay the franchise company (also called the franchisor) a fee, and ongoing royalties in exchange for the right to do business under the franchisor’s name using its business procedures. As a franchisee, you’re paying for a proven system of doing business. Just as with buying a business, you need to do thorough research into the company you’re considering. Do it well, and you should end up with a franchise that trains you how to run the business, assists in finding a location and opening your business, provides marketing and advertising support, and offers advice and help on an ongoing basis. Franchising is often described as “being in business for yourself, but not by yourself,” because having the franchisor to back you up greatly lessens your risk. *Don’t hire employees This is not suggesting that you do all the work yourself. But hiring salaried employees adds greatly to your risk. First, there’s the ongoing cost of regular salaries as well as payroll taxes and the cost of any benefits. In addition, employees open up liability risks, such as your need to get workers’ compensation insurance or the risk of being sued by a disgruntled staffer. No wonder many entrepreneurs find independent contractors or freelancers a smarter way to go. There are no salaries, benefits, or insurance issues to consider. Thanks to technology it’s easier than ever to work collaboratively with a team of independent contractors without being in the same office. In addition to cost savings, contractors offer flexibility because you can hire them on a per-project basis. BC

believed to have headed academic faculties over a 15-year span. However, like most start-ups, Gossy’s SCN and BAU have not been completely insulated with the initial challenges that have in most cases, cut short some highly inspiring dreams. In terms of funding, most venture capitalists that he had spoken to about the idea are a bit sceptical and not willing to stake their funds in a start-up they are not sure of what the future holds for it. “I have shared these ideas with venture capitalists and angels when this was at its infant stage and at the point they felt it was early. The VCs were not focused on early stage start-ups at the time,” he said. On the infrastructural side, particularly getting the Africans, which are the centre point of his project key into his vision, Gossy admitted that his team had an understanding that there is an emerging problem. “We have considered these problems and have picked out a few ways to deal with them. Firstly, we are working with internationally trained tutors, who are young and understand the dynamics of teaching and learning in the modern environment. They are 80 per cent Nigerians by origin as well. This will allow our students learn from people who understand them, people who have quality backgrounds in their respective fields.” Secondly, Gossy says he is working with a few international Centres for Entrepreneurship as well as Entrepreneurial Hubs to take the students through a rigorous business development boot camp; which will allow them form teams that it will fund. “Then, they can launch a product in the market upon their graduation from our institution. Finally, we are also partnering with international institutions that are ready to absorb some of our students when they graduate and allow them complete their degrees and graduate-level learning at their institutions.” The major challenge here is securing partnership which he admitted is often delayed when the international institutions realize that the project is going to be African based and most interestingly Nigeria. “We are working hard at this to ensure we continue working with our African partners whilst building the international collaborations that will give our students the edge over others,” he assured. Gossy has presented at international conferences on Education and Application of Technology in Education and has been a guest speaker at the Girne American University PhD series seminars as well as seminars focusing on Social Networking application in Education. He has also written a series of guest articles for leading internet media sites on how education is being changed with technology as well as guest columns on entrepreneurship for emerging markets. Gossy is pursuing a Bachelors of Science Degree in Management Information Systems from Girne American University. BC

Personal Finance Steps towards achieving your business goals

hen you spend so much time trying to survive day to day, it can be easy to forget why you started your small business in the first place. Though it is important for for small business owners to set goals, most of them however have a lot of difficulty setting and reaching goals. Business owners are responsible for everything; day to day issues just keep getting in the way. Remember the old saying: “When you’re up to your neck in alligators, its easy to forget that the initial objective was to drain the swamp!” This is what business owners are facing all the time. They spend so much energy each day just trying to survive; they forget why they started the business in the first place. So, assuming you decides to set at least one major goal for the business to achieve in 2013, how can you make sure you will achieve the goal by the end of the year? Here are three simple steps to help you reach the goals you set. *Make sure the goal is realistic and can be broken down into small parts. Having a goal to increase sales in 2013 is not a good goal. Stating that you want to increase sales by 20 per cent in 2013 is much better because it is specific and measurable. This goal can be broken down to measurable units by time (each month, each week, and each day), and what needs to happen in each time period. * Make sure the goal is in front of you each day, and make sure you say the goal aloud each day. How long does it take to do this, 30 seconds, one minute? Each day is the key. Goals must become habits and this is the first important habit of goal setting. Ask yourself: What do I need to accomplish today, to meet my goal for 2013? *Break down the larger goal into measurable units that include both action items and a timeline. In the goal above, one way of breaking it down would be to set smaller monthly goals. For example, the small goal might be to increase January 2013 sales by 20 per cent over last year. The actions you need to accomplish this might be to spend two hours each Thursday going door to door to prospect for new business. Or the action might be to call 30 new prospects each week, or if you are an introvert, you might decide to identify 30 new prospects and e-mail them information on what you do. These three simple steps make all the difference in the world when it comes to goals. One thing that also should be added to your goal is your reward for reaching your goal! Adding a reward to the goal in step 1 adds a big incentive for you to focus on the goal each day. Make these three steps a habit, and by the end of 2013, you might find that for once, you really were able to “drain the swamp!” BC

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Will CAPCOM deal revive the CDMA With the Starcomms’ shareholders approval of its acquisitions by Capcom, a special purpose vehicle in the $210 million deal, stakeholders believe the deal will signal a fresh wave of hope of revival for the ailing Code Division Multiple Access segment of the country’s telecoms sector. But how soon will the new Starcomms stake a fight for a good share of the market? By Adejuwon Osunnuyi

rom all indications, it appears the ray of hope for the ailing Code Division Multiple Access, CDMA segment of Nigeria’s telecoms sector is finally becoming a reality. Indications to this emerged recently, when the shareholders of the cash-strapped Starcomms Plc, the only listed Telecommunications Company in the nation’s capital market, voted for the reorganisation of its share capital structure as part of the requirements for its acquisition by Capcom, a special purpose vehicle created solely for that purpose. The shareholders also approved the moves to legalise Capcom’s control of 90.5 per cent of the company’s equity while the old investors and other interested parties to the deal would own the balance. Capcom had last year made an attempt to acquire the trio of Starcomms Plc, Multi-Links and MTS Wireless, coming together as Merger Company that will trade as Starcomms. Capcom, an American company, founded by MBC, a trust with 20 years standing, whose portfolio companies manage over $1.25 billion in the asset management and commercial banking sectors with focus on emerging markets is being supported by a number of African and emerging market funds including Pan African Capital’s asset management division (PAC), Asset Management Company of Nigeria and two private family offices with long experience of investing in Africa— Bridgehouse Capital and OldonyoLaro Estates. Already, Capcom said it had signed binding sale and purchase agreements for the shares of the holding companies owning the CDMA business of MultiLinks and spectrum licence of MTS, as these assets, according to the investors, are vital to creating a business to enable the new Starcomms to compete in the market. However, while the acquisition of Multi-Links and MTS Wireless seemed to have been without much ado, sealing the

final deal with Starcomms was a bit cumbersome. Being a quoted company on the floor of the nation’s capital market, seeking the approval of the shareholders as well as appropriate regulatory authority legally required for the deal to sail through had slowed down the process. Hence, it wasn’t a surprise when at the yearly general meeting and the court ordered meeting held in Abuja, the shareholders gave an overwhelming endorsement for the acquisition bid thus paving the way for the creation of the biggest CDMA operator in the country. About 99.83 per cent of its shareholders present at the meeting gave their support for the deal. The shareholders at the court ordered meeting represented 57.05 per cent of the total shareholder base of the company, while the shareholders who were present and voted at the AGM represented 56.62 per cent of the total shareholder base. As part of the agreement, Capcom agreed to cause the contribution to Starcomms of certain CDMA assets over which it intends to acquire control in separate but related transactions. “Capcom will contribute to Starcomms assets including the spectrum licence of MTS and the CDMA mobile telecoms business of Multi-Links. In addition to facilitating the CDMA consolidation, Capcom will also provide $98 million in cash to finance the post-acquisition integration of these assets, to meet ongoing short-term losses in the business and to deliver the combined company’s new business plan. “In return for its investment in Starcomms, Capcom will receive new Starcomms shares which will result in Capcom owning 90.5 per cent of the restructured issued share capital. In consideration of their proposed sales of certain assets to Capcom, both Helios Towers Mauritius Holdings Limited and Asset Management Corporation of Nigeria (AMCON) will own stakes in Starcomms (together representing less than 12 per cent of Capcom’s equity following Capcom’s investment) de-

Elesho

rived from Capcom’s shareholding on completion.” President of the National Association of Telecommunications Subscribers (NATCOMS), Deolu Ogunbanjo expressed his optimism that the proposed merger of Multilinks, MTS and Starcomms to become CAPCOM could be a wind of change and a lifeline for the troubled CDMA sector. To Lanre Ajayi, President, Association of Licensed Telecommunications Companies of Nigeria (ATCON), it was good that the troubled CDMA operators had identified their weaknesses and were now ready to scale up. “I believe that the proposed plan to merge will make them grow bigger and compete favourably with the GSM operators,” he said, noting that “When you operate on a low scale in the same industry with people on a bigger scale, you are prone to be at a disadvantage.” The scheme approved by the shareholders involved the cancellation of N3,448,646,872 in the Company’s share capital, comprising 6,897,293,744 ordinary shares of 50 kobo each, and the subsequent issuing of 662,550,000 new, fully paid up ordinary shares to Capcom, constituting 90.5 per cent of the post scheme-reorganised, issued share capital. As part of the transaction, Capcom is expected to inject a combination of assets and cash into Starcomms worth $210 million. Capcom also agreed to pay off Starcomms’ outstanding Nigerian Communications Commission (NCC) obligations up to $13 million in exchange for receiving the subscription shares

and conditional share subscription rights. The National Chairman of Renaissance Shareholders Association, Ambassador Olufemi Timothy described the scheme as a timely move that was bound to restore hope to the company’s investors and prospects for returns on their investments in the future. According to him, “it is a desirable sacrifice we have to make in order to ensure the survival of the company and make investment translate to future benefits for all stakeholders.” Similarly, Sonny Nwosu, National Coordinator of Independent Shareholders Association of Nigeria said the scheme had become imperative in view of the operational challenges of the company over the years, adding that the coming of Capcom to save the company from imminent collapse is salutary to the efforts aimed at making the company to survive. Olusola Oladokun, interim Chief Executive Officer of Starcomms, told the shareholders that the acquisition became imperative since the company had been “facing operational and financial challenges on account of the shifting competitive landscape in Nigeria’s telecommunications industry.” The challenges, he explained “have resulted in the company generating operational losses and functioning with unsustainable levels of debt and the reduction of weekly cash collections to unsustainable low levels.” According to him, as part of the overall transaction with Capcom, both Helios Investment Partners, an African-focused

private investment firm and AMCON, will acquire equity stakes in Starcomms derived from the Capcom shareholding on completion of the transaction. Oladokun noted that the board and management of Starcomms believe that the Capcom proposal represents the only credible route to maintain the company as a going concern. Disclosing that Capcom’s turnaround strategy for Starcomms was based on a consolidation of the CDMA market and using the increased spectrum to shift its business model to the profitable data segment, he however, pointed out that the transaction is contingent on Starcomms shareholders’ and regulatory approvals. “We are delighted that our shareholders have supported the board’s recommendation to approve the investment by CAPCOM and are extremely pleased that, subject to a number of conditions precedent relating to the overall transaction, Starcomms can look to the future with hope. “The capital injection combined with the injection of new spectrum and the CDMA assets of Multi-links provides a sound base for continued operations as well as enabling investment in new technology that will position Starcomms for the future in a very exciting space in the market.” “Overwhelming approval from shareholders is a strong endorsement of our proposed business model for Starcomms. We believe that the combination of Starcomms’ and Multilinks’ existing infrastructure and customer base with access to

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Monday, January 14, 2013

business?

Oladokun

20MHz of spectrum and the latest 4G LTE technology positions the company perfectly to be at the forefront of Nigeria’s data revolution. We look forward to rolling out the business model and to a bright future for Starcomms’ customers and shareholders,” he said. However, now that the approval is secured, how soon will Capcom roll out service on a bigger scale as it has promised? Business Courage gathered that this expectation might not come earlier than the third quarter of the year. Demola Elesho, Chief Executive Officer designate of Capcom insisted that unless the last huddle is crossed, Capcom may not be able to roll-out services. The first and second hurdles, he said involves the $210 million in cash and infrastructure as well as the Starcomms shareholders’ approval but the third and final hurdle of getting approval from the Securities and Exchange Commission (SEC), before it can rolls out services is yet to be crossed. However, Elesho, who is optimistic that Capcom would meet the demands of SEC in getting its approval, said the commission had already been approached and the necessary documentation submitted, but that Capcom had to wait for another 30 days for it to conclude verification and approval of all documentations. “While we are awaiting SEC’s approval, we will be offering services to existing customers of Starcomms, Multi-links and MTS Wireless, since arrangements for the acquisition of Starcomms was almost concluded,” he said. Elesho said that the new Starcomms will still be listed on the Stock Exchange, saying that “we are not delisting and we have

a plan of three years within which to meet the minimum requirements in terms of the quantum of shares that needed to be listed for it to have enough in terms of turnover. Elesho said that part of the attractiveness of the whole transaction into Starcomms as a vehicle for Capcom was the fact that it is the only listed telecoms stock on the NSE. “What that does is that it makes it open and transparent to investors that are based nationally and internationally. Its valuation is clear and there is no dispute. If we do well, the evaluation will be reflected immediately and it will be transparent. These are the advantages of the transaction and this is the advantage we hope that the shareholders recognise and accordingly should hope that what has been a dormant share at 50K per share will receive an injection of life by this transaction. This transaction is financially sound for existing shareholders and the rights issue that is being planned for existing shareholders will be trade-able on the floor of the Nigerian market.” Considering the challenges facing CDMA operators in Nigeria, Elesho, however said he is upbeat. “We will be successful because we think it’s a compelling requirement. We are trying to satisfy a demand that already exists; we are not trying to create a demand. The demand is already out there.” He is of the view that the new company would be focusing more on data rather than voice as Nigerians are still looking eagerly to be connected to the worldwide web of various transactions, various information databases and various commercial and e-Commerce sites. “Today, the best of our net-

Technotips

works are challenged in making that delivery and what we have is an opportunity to put together the technical ingredients or building blocks in which to create a data connectivity network that can satisfy or more than satisfy the urgent demand. And we believe that once we put that together, a large or fair share of customers will join our network, will enjoy it and will stay. That’s why we think this transaction deal and amalgamation is worth pursuing.” According to him, “Yes it is true that our main business focus is mobile broadband data services. We make no apology for that because that is where the huge demand is. We also acknowledge that the big monsters in the telecommunications industry: MTN, GLO, Etisalat and Airtel are dominant in the voice segment. We are not going to put ourselves like David fighting Goliath everyday of the week. Even if we can beat Goliath once or twice, I’m not sure that if we fight Goliath every day, there would be much left for us. The idea is to focus our energy on where we have a unique advantage.” Elesho is of the belief that in the next five years, there are chances for the new Starcomms to increase its market share in the Nigerian GSM-dominated market. To him, it is not anticipated that the company will operate at a profit in 2013 but it is expected to return to profitability 18-24 months after the transaction has been completed. “We planned that in the next five years, we would have acquired a minimum of two million data subscribers. However, we hope to get to a point where anybody that uses our data modem will talk to themselves for free. If you are using our data services, you don’t need to pay to talk on-net. Once we migrate to this 4G platform, we should be able to do that.” With the benefit of the 20 MHz of contiguous 1900MHz spectrum to be held by the consolidated operations- the largest spectrum allocation for any mobile operator in Nigeria, promoters of the merger believe Starcomms would be at the forefront of the shift from current generation of services into a Long Term Evolution technology platform capable of delivering new 4G and related data and other services that will offer customers substantially improved performance. According to the Capcom boss, “We also listen to experts who say there is an evolution that we cannot stop and the evolution is that we have moved from 1G service to 2G services to 3G services and now to 4G services and that 4G platform is LTE (Long Term Evolution). So, Capcom and the new Starcomms are embracing the new technology platform and following the evolution on which we are going to deliver the services that are in demand.” BC

Top five phones to look forward to in 2013

hile last year could be said to have seen a bumper crop of stunning smartphones, this year 2013 promises to serve up even better, faster, more technologically advanced handsets. Every major player is lining up an upgrade to their best blowers in 2013, so here’s our pick of the five that you should really be getting excited about. 1. Samsung Galaxy S4 Possibly the most anticipated handset of 2013, the Samsung Galaxy S4 looks set to be revealed at January’s Consumer Electronics Show. Samsung is wasting no time in getting the successor to the S3 out of the door, less than a year after its release, capitalising on its new position as smartphone top dog. A flexible screen, five-inch display, snappier processor and Android Jelly Bean are all expected to form part of the package. 2. iPhone 5S/iPhone 6 Apple’s next phone is already the subject of leaks and rumours, its casing apparently snapped by a French fan site. Like the iPhone 4S before it, it’s set to be an iterative upgrade. But seeing as the iPhone 5 felt like little more than a minor bump, Apple will need to either serve up something spectacular or placate fans by making this the first of two releases in 2012. The latter is more likely, with the iPhone 5S arriving earlier in the year with a full-on upgrade following later. Apple must now dance to the Android tune of regular, tech-tastic upgrades. 3. HTC M7 The Samsung Galaxy Note 2’s success has seemingly enticed key rival HTC into unleashing its own, dare we say it, ‘phablet’. It has already released the HTC Butterfly in Japan and the US, but a different five-inch effort, the HTC M7, has really got smartphone-watchers buzzing. This hulking device will apparently pack a full HD display, 4G, quad-core Qualcomm tech and a unibody aluminium design, much like the old-school HTC Legend, an early Android winner. HTC needs a big 2013 and the M7 looks a good bet to help kickstart its ailing fortunes. 4. Nokia Lumia 940 Nokia will doubtless be looking to make an even bigger push with its Win-dows Phones in 2013. only a The Lumia 940 is for now ning carbon fibre concept, but one with a stunframe and beefed up screen. Espoo has done such a great job with its native apps and in trying to push the Windows Phone platform, but it really needs a design-led device that doesn’t come in a range of plasticky colours to give it that extra edge. Hopefully the Lumia 940 is it. 5. BlackBerry 10 touchscreen BlackBerry 10 has already been widely trailed, with the next-gen OS set to be officially unveiled at the end of January. A touchscreen phone, touting new multimedia access, improved apps and better typing is expected to follow in the spring. BlackBerry has really been in the doldrums for the past few years, but this is a cool new handset that’s well worth getting excited about. Expect it to be sleek and work-focused and give RIM new impetus in the smartphone wars.

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Dragnet Solutions to tackle ID challenges for Nigeria, others

of broadcasting in general especially that we have a few year to migrate to digital broadcasting.

Nokia, Microsoft, Dalberg organise Innovation for Vision 20:2020 Forum

By Kunle Azeez

igeria’s leading computerbased testing and talent management firm, Dragnet Solutions is partnering with the United Kingdom-based biometric solutions company, Warwick Warp Limited to launch a Centralised Biometric Identity Database that will help Nigeria and other West African countries address their ID collection and management challenges. Speaking on the initiative, the Managing Director, Dragnet Solutions, Robert Ikhazoboh, said the need to provide a modern and efficient identification system that is private-sector led was the dream behind the project. According to him, “At Dragnet Solutions, we are noted for our bouquet of innovative products and services that are carefully designed to address seemingly intractable challenges. This project also follows this same business philosophy of Dragnet. The challenge of identification verification is one that has been with us for years and it appears that various efforts to address it have been unsuccessful.” Ikhazoboh noted that in Nigeria, the National Identity Card scheme has been hampered by different issues and there seem to be no headway for now. “The Centralized Biometric Identity Database is the solution to the identity verification problem of the country. We are partnering with a renowned UK firm, Warwick Warp, to deliver this solution. We will start with some private organisations like educational institutions, oil companies, among others that handle a lot of data in the course of their businesses. “We also plan to extend it to the public sector later. The Dragnet Identity Management Project will be launched in March this year accompanied by supportive innovative identity management solutions for the sub region,” he added.

NSE scores NigComSat-1R facilities high Stories by Adejuwon Osunnuyi

he Nigeria Society of Engineers (NSE) has given the multi-million naira infrastructure of NigComSat -1R a thumb up saying that Nigeria is now on its way in joining the developed world in the

Monday, January 14, 2013

Shehu

race for vision 20.20.20. NSE President, Engr. Mustapha Shehu, stated this when he led the society’s executives on a facility tour of Nigerian Communications Satellite (NigComSat) Limited at the ground control station, Abuja. Submitting that he was quite impressed with what they had been able to see at the ground control station, Shehu noted that if the Federal Government would do the citizens a lot of good if it puts in place policies that could encourage Ministries, Departments and Agencies (MDAs) to leverage on what NigComSat has for the benefit of the people.“I am quite impressed with what we have seen here today.” He said. Shehu, who confessed that would be the first time he and the exco-members would be visiting the facility, said, “The Federal Government which came up with this project means well and after spending huge sums of money, cannot allow this to go the Ajaokuta Steel way”. He however called on State Governments as well as Organised Private sector (OPs) to patronise the NigComSat facilities if they must join the rest of the world in technology acquisition and economic emancipation. The society expressed absolute confidence in NigComSat’s resolve to bringing affordable broadband access to the Nigerian populace. The delegation, after embarking on an extensive tour of the facilities, where the operations of NigComSat-1R, the geostationary satellite launched in December 2011, is being closely monitored and sustained by Nigerian engineers, said they were satisfied with what they saw on ground. Earlier in his welcome remarks, Engr. Timasaniyu Ahmed-Rufai, managing director of NigComSat Ltd, told the group of the capabilities of the Micro-Electronic Centre (MEC) and the Direct to Home(DTH) satellite broadcasting platform which enable viewers to receive a minimum of 200 to 300 channels. He assured the engineers that when fully deployed, content providers would have an opportunity to ride on the platform and leverage its use to revolutionise the broadcasting media in Nigeria and contribute immensely to the improvement

o boost Nigeria’s economy and stimulate discussion on the role of ICT’s and innovation in catalyzing development, global phone manufacturer, Nokia in partnership with leading software maker, Microsoft and Dalberg Global Development Advisors have put together a day forum to discuss ways the ICT sector can impact agriculture, job creation and the power sector in achieving Nigeria’s Vision 20:2020 goals The forum tagged, ‘Innovation for Vision 20:2020 Forum’ stimulated discussion around how information and communication technologies and local innovations could be used for improving the performance of the agriculture, entrepreneurial and energy sectors as well as what barriers exist for unleashing creativity both within public and private domains for making these solutions a reality. Microsoft’s General Manager for Nigeria, Emmanuel Onyeje pointed out that “it is important to build our understanding and knowledge about the power of ICT’s, but only action will allow us to reach our dreams. We need to move from policies to actionable programs that benefit the people.” Robin Miller, Manager and ICT subject expert for Dalberg explained that the primary criterion for choosing the agricultural, entrepreneurship and the power sectors is due to their unique ability to drive inclusive and sustainable growth. “Nigeria is one of the fastest growing economies in Africa with potential for global competitiveness. As such, we must look beyond the traditional solutions and recognize ICT innovation as a cornerstone of the country’s development,” she said. While the forum highlighted the current global thinking

Onyeje

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about the role of technology and innovation in driving national competitiveness, economic growth and social development, it brought together policy makers, local innovators, academics and private sector to join forces in developing the Nigerian innovation society and to build bridges between sectors. The gathering not only provided participants the opportunity to present solutions and recommend the way forward, it also highlighted the importance of collaboration and best practice in reaching national development objectives. Jussi Hinkkanen, Vice President for Corporate Relations at Nokia said that reaching of Nigeria’s Vision 20:2020 objectives will require collaboration and alignment across stakeholders. “Private sector is ready to contribute to this process as we have seen today. The identified solutions showed maturity and now we need to action on them,” he said.

British Airways equips 3,600 pilots with iPads

ritish Airways has announced that it is equipping its 3,600 pilots with iPads to further improve customer service and operational efficiency levels. The move, which follows the airline’s rollout of iPads across its cabin crew and ground operations teams, is part of the company’s £5 billion investment in new products and technology to provide the best possible flying experience for British Airways’ customers. By having access to additional real-time operational data, shared with ground colleagues, pilots will be able to plan the flight more efficiently using the most accurate information available pre-departure. This means flight crew can provide customers with faster and more accurate flight information than ever before. With the latest operational updates customers will be better informed and able to make plans if their flight time has changed

for any reason. Pilots will also be able to use historic and current data, supplied by the customer, to provide an even more personalised service during the flight. British Airways’ director of flight operations, Captain Stephen Riley said: “As pilots we want to deliver a safe and memorable experience for each and every British Airways customer, on every single flight.

Etisalat, AlcatelLucent partner to boost Quality of Service

n furtherance of its commitment to invest in its network for the purpose of providing the highest possible quality of service to its subscribers, Etisalat Nigeria has signed another agreement with global leader in mobile, fixed, IP and optics technologies, AlcatelLucent. This is the sixth phase of the agreement between the two companies, a working relationship that dates back to 2008 when Etisalat Nigeria entered into an agreement with Alcatel Lucent for the provision of Establish Operate and Transfer Services for the establishment of a Public Mobile Cellular Service in Nigeria for Region 2 of its network which comprises Lagos, Ogun, Oyo, Osun, Kwara, Ondo, Ekiti, Edo, Kogi and Delta states. Chief Executive Officer of Etisalat Nigeria, Steven Evans described the contract signing as a milestone towards the company’s drive to continually upgrade its network to provide better services to its customers around the country. “This is a significant milestone as we move into the next phase of our network roll-out. We plan to increase our cell sites by an additional 1,000 in 2013 and this agreement is towards achieving that target. We are happy to be partnering with Alcatel-Lucent, in fulfilment of our promise to continuously deliver quality and innovative services to our customers every step of the way,” he said. He explained that the agreement with Alcatel-Lucent is for the provision of equipment and services for the expansion of its network in the above states. “This agreement being executed is for phase 6 of the project and it is for the further expansion and strengthening of the network in the region. Under this phase 6, Alcatel is to build additional sites and provide the necessary equipment and services for the integration of the sites into the Etisalat Nigeria network,” he further revealed. BC BC

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Monday, January 14, 2013

Reflections with Semiu Salamii 07043280449 sms only

Intervention funds as drain pipes?

ntervention funds are dedicated state resources usually set aside to address critical areas of national importance that require urgent attention. In most cases, they are emergency, extra-budgetary spending which are administered carefully and religiously by bodies that are in most cases, amalgamation of government officials and private individuals. In most climes, intervention funds are not considered by the government or those constituted to administer it as a means to satisfying personal interests. They are guardedly used to achieve the purpose(s) for which they were intended. Intervention fund is one area which successive administration in the country has adopted in addressing certain critical areas of our national lives. In fact, in the past two years, the government of President Goodluck Jonathan has spent at least N1.732 trillion on intervention funds in different sectors of the economy. Such funds include the N200 billion Small and Medium Guarantee Scheme, N200 billion Restructuring and Refinancing Facility Scheme and the N300 billion Power and Airline Intervention Fund. Others are the N75 billion Grooming Enterprise Leaders Business Intervention Fund, N32 billion Entertainment Intervention Fund and the N10.71 billion

Commercial Agriculture Credit Guarantee Scheme to six banks by the Central Bank of Nigeria. There is also the N300 billion approved for the hotel and leisure sub-sector in 2012; the N200 billion meant for indigenous pharmaceutical companies and the N100 billion textile industry bailout. Between 2010 and 2012, the government of President Jonathan disbursed N126.1 billion as export expansion grant and also disbursed about N7.9 billion to 25 companies from the National Automotive Fund for the production of vehicles, motorcycles and bicycle tyres and accessories. In November, 2012, the Federal Government, in collaboration with the Central Bank of Nigeria, disbursed a soft loan worth N9.4 million to members of the Nigeria Cassava Growers Association, Nasarawa State chapter. As at July 2011, the Bank of Industry reportedly disbursed N195 billion out of the N200 billion meant for the refinancing of the manufacturing sector to 518 companies across the six geo-political zones. Last year, the government approved N95.653 billion for public tertiary institutions in the country, through the Tertiary Education Trust Fund, even as

it disbursed several funds through the Universal Basic Education Commission. In the agricultural sector, the CBN, through its Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, approved a take-off grant of N75 billion to boost agriculture businesses. However, as desirable as some of these interventions are, it is rather unfortunate that they have had little or no meaningful impact on the economy and the people, either because the intended beneficiaries have no access to the funds or because bulk of the funds were diverted by the agencies responsible for its administration. For instance, last year, the Senate Committee on Public Accounts, raised the alarm over a missing N44 billion from the Special Intervention Fund on Solid Minerals, which it claimed to have discovered during an interactive session with officials of the Federal Ministry of Finance, the Central Bank of Nigeria and the Office of the Accountant-General of the Federation. The committee said that Nigeria could not properly account for about N44 billion, out of the total figure of N873 billion, between 2002 and May 31, 2012. Similarly, President of the National

Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that despite the N100 billion textile bailout fund, less than 25 per cent of textile manufacturers were operating above 50 per cent capacity utilisation. It is unfortunate that, rather than serve the purposes for which such funds were created, they have virtually become avenues for corrupt enrichment by government officials and their collaborators. Rather than address critical national needs, intervention funds in Nigeria have become facilities meant to patronages for political associates and their cronies. Given the peculiarities of our country, it thus looks like the solution is really not to dole out funds under the guise of special intervention. What Nigeria really need is for the government to put in place structures that would lead to job creation, by providing infrastructure that will encourage small and medium-scale industries to thrive. Besides the fact that most intervention funds are misdirected, there is the tendency that the funds will make people less creative and productive, the situation which the country can rarely afford at this critical time. What the country needs is a well structured and properly managed microcredit facility for entrepreneurs to increase local content and not one bogus intervention fund that will ultimately end up in the pockets of the few greedy Nigerians. BC

The Stock Market last week

ctivities on the floor of the Nigerian Stock Exchange (NSE) closed Friday last week on a positive note with the All share Index appreciating by 1.8 per cent to stand at 29,202.01. A turnover of 2.160 million shares worth N16.998 billion in 31,241 deals was traded last week in contrast to a total of 972.737million shares valued at N8.509 billion that exchanged hands previous week in 13,745 deals. The Financial Services sector was the most active during the week (measured by turnover volume) with 1.686 billion shares worth N12.055billion exchanged hands by investors in 19,947 deals. Volume in the sector was largely driven by activity in the shares of U B A Plc, Fidelity Bank Plc, Unity Bank Plc, and Zenith Bank Plc. Trading in the shares of the four Banks accounted for 807.493 million shares, representing 48.00 per cent and 37.39 per cent of the sector and total turnover traded during the week respectively. The Conglomerates sector boosted by activity in the shares of Transnational Corporation of Nigeria Plc followed on the weekâ&#x20AC;&#x2122;s activity chart with a turnover of 195.656 million shares valued at N302.207million in 960 deals.

TOP TEN EQUITIES TRADED BY VOLUMES

The Consumer Goods sector (measured by turnover volume) was third with 93.297 million shares valued at N3.121 billion traded in 4,892 deals. The top three sectors accounted for 1.975 billion shares valued at N15.478billion traded in 25,799 deals, thus accounting for 91.00 per cent, 91.06 per cent and 83.00 per cent, of the volume, value and number of deals respectively. Also traded during the week was 413 units of NewGold Exchange Traded Funds (ETFs) valued at N1.042million exchanged hands in 5 deals in contrast to a total of 438 units valued at N1.108 million transacted last week in 4 deals. There were no transactions through the stock market in the FGN Bonds, State/ Local Government Bonds and Corporate Bonds/Debentures sectors. Index movement The NSE All-Share Index appreciated by 2.33 per cent to close at 29,202.01. Also, Market Capitalization of the listed equities appreciated by 2.39 per cent to close at N9.340 trillion. All the sectorial indices appreciated: the Bloomberg NSE 30, Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, Bloomberg NSE Oil/

Gas index and NSE Lotus II appreciated by 2.40 per cent (+4.16 per cent YTD), 1.95 per cent (+2.78 per cent YTD), 4.09 per cent (+10.34 per cent YTD),2.73 per cent (+6.52 per cent YTD), 6.13 per cent (+6.78 per cent YTD) and 1.92 per cent (+0.98 per centYTD) respectively. Summary of Price Change A review of the equity price movements indicated that 52 equities gained while 20 equities recorded price decline and prices of one hundred and 123 equities remained constant. When compared with the preceding week, 51 equities gained while twelve 12 equities recorded price decline with the prices of 132 equities remained constant. New Listings: A total quantity of four billion ordinary shares of 50k each at N1.16 of UBA Capital Plc and a total of one billion ordinary shares of 50k each at N1.59 of Africa Prudential Registrars Plc were admitted on the Daily Official List of The Exchange on 11th January, 2013. This followed the approval by the Quotations Committee of Management of The Exchange, of the Scheme of Arrangement for the Restructuring of United Bank for Africa.

TOP TEN SECTOR TRADED BY VOLUME

Report on the OTC Market for FGN Bonds A turnover of 235.732 million units valued at N273.417 billion in 1,553 deals were recorded in contrast to 23.931 million units worth N24.756 billion in 40 deals recorded in the preceding week ended January4th, 2012. (See the Table below): Appointment Wema Bank notified The Exchange that the Board of Directors of the of Wema Bank Plc at its meeting held on Monday, December 24, 2012 resolved and approved the appointment of a new Chairman, Adeyinka Olatokunbo Asekun and subsequently obtained ratification of same by shareholders at the Annual General Meeting held on Monday, December 24, 2012. BC TOP TEN LOSERS

TOP TEN GAINERS

A18 34

Business Courage

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Behind d Wheels This page is open to sponsorship

Top 10 cars in

2012

Audi R5

These are 10 best worldwide auto uto companies that got the fame in 2012 due largely to their best brands in the classic, hybrid, electric green, sports fastest models. The brands are among the 100 best global brands for the year 2012 conducted by Interband. Toyota, the leader in the automobile segment is ranked 10th and closely followed by Mercedez Benz and BMW By Semiu Salami Toyota oyota has retained the top spot for automotive brands after being named the most valuable car marque in the world in a survey of the top 100 brands by research company, Interbrand. In the 2012 Best Global Brands top 100 list, Toyota placed tenth overall, rising one place compared to 2011’s rankings. The company’s brand value was judged to be $30.3 billion, an increase of nine per cent. The Japans auto company founded in 28th august 1937 is a public type worldwide company that presented the qualitative brands in the world with top brands like Toyota Corolla which got the best sold car award and thousands of brands in all class are popular in the international market.

Mercedez Benz The next top automotive brand was Mercedes-Benz, which also rose one spot to 11th and had its brand value increase to $30.1 billion – up 10 per cent.

BMW Fellow German luxury maker BMW jumped from 15th place in 2011 to 12th in 2012, with an increase of 18 per cent to a $29.1 billion brand value. This auto company is made in 21st July 1927 and its headquarters are in Munich Germany. BMW makes the type of cars that got the fame in the whole world and it is regarded as one of the biggest car company in the world. Its brands are very much expensive and beautiful and services are available worldwide. NISSAN While the three highest ranking car brands all posted strong percentage gains, Nissan improved the most among the car makers. It rose from 90th spot last year to 73rd in 2012, and the Japanese car maker’s brand value leaped by 30 per cent to $4.96 billion. In the automobile category, Nissan is ranked 10th position. Founded in December 1933 in Yokohama, Japan, Nissan cars are unique and best in all classes due to beautiful and innovative design and strong interior power. From the first brand in 1914,

N i s san has rolled out top quality brands ds like the 1966 prince R380Racecar, 0Racecar, 1971Datsun 240Z, Z, 2010 Nissan Maxima SV V sports and Nissan GT-R, R, brands which analysts say y cannot be ignored.

Nissan Maxima

KIA This year, there e were 12 car makers in the hunt, with fast-growing South h Korean brand, Kia joining the fray, jumping into the list st in 87th spot. Its maiden appearance ppearance outranked Ferrari, which remained in 99th position, ittion, stable compared to its 2011 1 ranking. Kia’s sister brand Hyundai continued to rise through hrough the rankings, jumping mping from 61st position n to 53rd, with a brand value alue of $7.5 billion – up 24 4 per cent and within n the automobile category, it’s ranked seventh. Ford, Volkswagen, Audi and Porsche all made gains on their 2012 positions. Volkswagen moved up to the 39th position, gaining eight points with a brand value off $9.3 billion and it occupies ccupies the fifth position in the automobile category. Ford Ford is ranked sixth in the automobile category, gained five points to hit 45th position on the 100 best global brand ranking and has a brand value of $8.0 billion. Founded by Henry Ford in June 1903 and headquartered in Michigan US, Ford had since become a global brand. Ford has produced very outstand-

BMW hatchback

Ford Kuga

National Mirror www.nationalmirroronline.net

Business Courage A19 35

Monday, January 14, 2013

Behind d Wheels This page is open to sponsorship

Autocare Honda Accord Sedan

Car battery care tips

ing models with its latest best brand being the 2012 Ford Mustang which got the fame due to the remarkable interior and exterior features. Audi Audi is the in the ranking

eight best cars

but it occupies 55th in the global 100 best brands, gaining four points with a brand value put at $7.2 billion. Audi is private type German company founded in July 1909, producing small and big beautiful and qualitative cars with unique f e a -

Mercedes Benz E Class

Toyota Corolla

Top ranking car brands Cars Global Ranking (out of 100) Toyota 10th Mercedes-Benz 11th BMW 12th Honda 21st VW 39th Ford 45th Hyundai 53rd Audi 55th Porsche 72nd Nissan 73rd Kia 87th Ferrari 99th

Brand Value ($) $30.23bn $30.1bn $29.1bn $17.3bn $9.3bn $8.0bn $7.5bn $7.2bn $5.2bn $5.0bn $4.1bn $3.8bn

Points (+/-) +1 +1 +3 -2 +8 +5 +8 +4 Nil +17 new entry Nil

Auto Ranking 1 2 3 4 5 6 7 8 9 10 new entry Nil

tures. Audi’s famous brands, which experts say are based on the demand of the people include Supermini, Small Family Car, Compact Executive Car, Executive Car, Full-size Luxury Car and Sports Car. On the oth other hand, Porsche is 72nd on the global 100 brands rankin ranking, gained no position from the 2 2011 ranking, has a brand valu value of $5.2 billion and occupies the ninth position auto on the automobile scale. Honda Ho Honda was the only car brand that slip dow down the rankings, fal falling from 19th la last year to 21st in 2012 and had it its brand value d dropped by 11 p per cent to $17.3 b billion. In the autom tomobile category, Hon Honda is ranked fourth. Honda is also a public type company founded in September 1948 in Tokyo, Japan with the extraordinary fame. Honda has presented every type of classic, electric, hybrid and sports cars that got the automaker numerous awards. Its top brands include Honda Accord, Honda Civic, Honda Civic GX, Honda Civic Hybrid, Honda Insight Hybrid Electric, Honda Odyssey Family and Honda FCX clarity hydrogen fuel cell. The Best Global Brands list comes up with the brand rankings by looking at the financial performance of the product or service, how influential the brand is in customers’ decision making processes, and how the brand can leverage its position to make a profit, which then affords each brand a monetary value. The results from Interbrand however, contradict findings published by BrandZ earlier in 2012 which put BMW ahead of Toyota and Mercedes-Benz. BC

he most crucial component of a car, the battery, which gets it moving is often ignored or overlooked. This can prove to be costly and troublesome on the road. Do not take a car battery for granted The battery in a car cranks the engine when the key is turned in the ignition. So, no matter how well the car is maintained. If the battery is not treated correctly, the car will not get on the road. Taking care of the battery is simple, easy and inexpensive. Read the following tips to keep the battery in your car always ready to crank. * Turn off electric devices in the car. Take the key out of the ignition * Prior to handling your car batteries, remove all kinds of metal accessories from your body such as watches with metal straps, metal jewellery like bracelets, bangles, rings, etc. to prevent short-circuit if these items by chance touch the positive terminal of the battery. * Clean the top of the battery with solution of a cup of water and a tablespoon of baking soda. Use an old toothbrush to remove corrosion and build up from the battery posts and cables. * A battery meter can be used to test the voltage of the battery; if it reads 12.5 volts the battery is fine. If it’s lower the battery is undercharged and needs to be charged. * Remove the covers of the battery cells, and make sure that the wells are at least half full with electrolyte fluid. If the fluid is low, fill the wells up with distilled water. Let the distilled water mix with the electrolyte fluid for a while before starting the car. * Use only distilled water as tap water will eventually reduce the battery’s potential. * If the headlight beam turns yellowish, it’s time to charge the battery or have it replaced all together. * If the ignition takes a while to crank the car and the key has to be held in the start position for a bit before the engine starts, it’s time to get a new battery. The following steps will ensure long battery life * Do not leave the headlights on for a long time after the engine has been turned off. * Do not leave the key in the ignition of the car overnight as some electrical devise may remain on and can discharge the battery by the morning. * Never let rust remain on the battery terminals for too long. * Do not leave interior lights on overnight, make sure all lights have been turned off and any other electrical accessories have been turned off before locking the car. * Car batteries have a limited life span. Check the lifespan of your car battery and have it replaced before the lifespan comes to an end. * If the car is not going to be used for a long time. Disconnect the battery from the car, hand remove it from the car altogether. This ensures that the battery will not get discharged when the vehicle is not used. Maintaining a battery and monitoring the health of the battery will ensure that there will never come a situation when the car will not start at the traffic lights and cause you embarrassment. Or worse, get you stuck in the middle of nowhere and help is not at hand. Never ignore the importance of maintaining a car battery as it will cost more to buy a new battery rather than maintaining an old one. BC

A20 36

Business Courage

Emerging debt sales in for another bumper year; shy of 2012 boom

sian firms and African governments will lead emerging borrowers hoping to tap into buoyant appetite for high-yield assets in 2013 although issuance levels and investor returns may fall short of last year. The New Year has already got off to a flying start - investors lent Turkey cash repayable in 10 years at a cost of 3.47 per cent, the lowest it has ever achieved in the dollar debt market. This comes hot on the heels of a year in which the emerging bond sector saw record sales and almost 20 percent returns. Issuers as well as investors benefited in 2012, with the collapse in U.S. yields slashing borrowing costs for emerging entities and allowing them to sell a total $411 billion in bonds, according to estimates from JP Morgan. That’s a jump of more than 30 per cent from 2011 levels. Bond buyers, meanwhile, enjoyed robust premia over zero-yield German and U.S. debt, shovelling a record $94 billion in new cash into the sector and earning equity-like returns on dollar bonds as well as on emerging currency debt. On some segments such as Venezuelan dollar bonds, returns were as high as 45 percent. “Demand for emerging markets fixed income remains strong, fuelled by the on-going search for yield, as well as a supportive economic backdrop in many regions and the likelihood that currency volatility will remain subdued,” HSBC says. But HSBC analysts warn: “But there is little scope for a repeat of 2012 returns, given a starting point of tighter spreads and much lower yields.” The premium paid by emerging borrowers over U.S. Treasuries as measured by the leading EMBI Global index compressed 161 basis points over 2012. That of corporate bonds fell 142 basis points. Analysts at HSBC expect four to seven per cent returns in external bonds, while local currency debt is expected to provide eight per cent. JP Morgan, which runs the most-used emerging debt indices, expects sovereign dollar bonds to return five-six per cent this year, versus 18.5 per cent in 2012. Issuance is also set to fall back, in part due to a hangover from the borrowerfriendly conditions seen in 2012. The fall in US yields allowed emerging issuers to raise capital cheaply, with many taking advantage by pre-financing 2013 needs. Sovereigns are also reckoned to have a lower net financing need than last year. JP Morgan says companies will issue $281 billion in dollar debt, down from last year’s record $329 billion. It predicts $78 billion in sovereign sales, a touch under 2012. Inflows, too, should moderate to $70 billion, JPM reckons, after last year’s 150 basis point yield spread compression. The environment may be turning less bond-friendly. If global growth continues to pick up, more cash could rotate into equities, while higher US yields may

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

The PIB

imperative

Okonjo-Iweala, Finance Minister

also pose a challenge. US 10-year yields jumped to 8-month highs this week on signs of economic recovery and fears of an inflation bump. On the other hand, developed world central banks are still pumping liquidity, with monetary easing from Japan now expected to push another wave of cash into emerging assets. Nick Darrant, who heads the CEEMEA debt syndicate desk at BNP Paribas, says a structural shift in the global investor base is bringing in more and more nontraditional buyers of emerging market bonds. “Some of the barriers are being broken down, some who only looked at OECD countries before have dropped that criteria,” he said, referring to the group of 34 industrialised countries. A few themes stand out - corporate debt, Islamic bonds and debt from poor, so-called frontier markets. Their success in today’s yield-scarce environment is unsurprising - companies for instance pay a 60 basis point yield premium over sovereign bonds. The corporate bond boom can also be attributed to the lockdown in the syndicated loan market, due to banks’ needs to comply with tighter regulations on capital buffers. “Cross-border bank lending will be modest compared with historical levels. Syndicated loans are expensive and lending to lower-rated corporates requires even higher capital adequacy ratios. This suggests bond markets will take up the slack,” said Jeremy Brewin, a fund manager at Aviva Investors. Chinese property firms’ debt sales in the first two weeks of the year alone are already running at nearly half of total 2012 dollar issuance, analysts note. On frontier debt, Zambia’s Eurobond last year was 17 times subscribed. That may encourage other potential debut borrowers such as Kenya, Bangladesh, Angola, Uganda and Tanzania. JP Morgan predicts frontier issuance of $9.3 billion, double last year’s levels. Islamic debt, or sukuk, volumes last year doubled from 2011 levels to almost $20 billion, according to Thomson Reuters data, testifying to the appetite of cash-rich Gulf investors BC

he ruckus over the $1.5bn loan the Nigerian National Petroleum Corporation has virtually secured to pay off huge debts owed international oil traders for refined fuel supplied in recent years only underlines the need for the speedy passage of the Petroleum Industry Bill. The PIB, which outlines new regulatory, governance, commercial and fiscal terms for oil and gas industry players, has spent six years in the “pipeline” largely due to pressure from the international oil companies who want some of the provisions watered down. Essentially, what the NNPC has done is to pledge 15,000 per day of production to secure the $1.5bn facility from a consortium of 10 international and local banks repayable over a period of five years at an interest rate of 375 basis point above the London Inter-bank Offered Rate, which translates into 4.2 per cent at current 12-month Libor rates. The story of the deal, scooped by an international news agency, has drawn the ire of the National Assembly, labour unions and some informed public commentators including former Vice-President of the World Bank, Ms Oby Ezekwesili who say that the deal is unauthorised, fraudulent, unnecessary among other objections. Yet, there appears to be a consensus, especially after the fuel subsidy scandal that grabbed headline attention for most of last year, that the NNPC cannot continue to operate as an inefficient, ineffective, loss-making tool of political patronage if the nation’s oil industry is to move forward and loosen itself from the grip of the oil multinationals and their local collaborators and exist for the benefit of Nigerians, who own the oil. Ordinarily, the national oil company like its peers all over the world including Saudi Arabia’s Aramco, Brasil’s, Petrobras, Malaysia’s Petronas and indeed, Norway’s Statoil, should operate on strictly commercial terms and deliver dividends to its major shareholder – the Federal Government – at the end of each trading year, but with the NNPC having to answer to its puppet masters in the Presidency it has seen itself running a bureaucracy, which is why everyone has been taking pot shots at the management over this decision even though a write-off could have disastrous consequences for Nigeria’s overseas credit ratings. If the NNPC were to be run in a sane manner, how could it have racked up debts estimated at between $3.5bn and $4.5bn just for importing fuel when it has refineries and has a slice of virtually all oil and gas concessions and fields? Former NNPC Group Managing Director, Mr. Mohammed Barkindo, had said a couple of years

ago that the NNPC was technically insolvent. Former Minister of State for Finance, Mr. Remi Babalola echoed the same view shortly afterwards and was promptly rebuked in public and downgraded to minister without portfolio before he left quietly. It all goes back to the need to reinvent the NNPC and empowering it to deal with the oil majors on new terms consistent with Nigeria’s status and requirements. The oil majors, taking advantage of loose fiscal terms especially in the deepwater regions have been serving their commercial interest only and they want to protect that. With the help of certain government officials whom they have effectively pocketed, the oil majors get away with anything including unpaid taxes and royalties. How can we explain how the government has been unable to get additional revenue from the so-called PSCs signed when oil prices were low, even though the terms specify additional revenue for government when oil goes above $20? This is why the Joint Ventures which account for 1.4 million barrels per day of production make some $39m per day in revenue while the PSCs, which produce 900,000 bpd make just $7m per day Nigeria lacks power, not able to generate even 5,000 megawatts as at today, yet we export six billion cubic feet of gas each day to power turbines in Europe because the oil majors have no interest in the domestic market. The IOCs are not happy that oil blocks will now become two square kilometers, (with options for multiple holdings) instead of the 2,500 square kilometers that some hold for decades and fail to develop, even though marginal local operators have been waiting in the wings with expertise and modest capital to play in the industry. They are also not happy that royalties will now be based on production figures instead of the location of oil wells having been used to paying paltry sums in the deepwater, which is expensive to develop but Nigeria still ends up paying ALL the costs while they sell the oil within the period the files are most prolific. The point really is that the NNPC, as envisaged in the PIB, must be able to stand as a fully commercial enterprise listed on the Nigeria Stock Exchange subject to the same corporate governance codes demanded of a First Bank, Guinness Plc or a Nestle so that it’s leadership will not negotiate dubious contracts that leaves us holding the short end of the stick in the long run. But for now, with its reputation as an epitome of corruption, the NNPC will have a difficult time explaining this $1.5bn loan, even if it is a necessary move. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, January 14, 2013

A21 37

Market regulators urged to improve on oversight functions Regulators of the Nigerian capital market have been advised to improve on their oversight functions in order to check market infractions. Head of Markets, Sterling Capital, Sewa Wusu who spoke Friday at the Finance Correspondents Association of Nigeria (FCAN) Roundtable on the Economy held in Lagos, said that there is also an urgent need for the application of more risk-based supervision as such would entrench corporate governance and deal with market infractions. He said that despite pessimism that sufficed in the early part of last year, the Nigerian market closed with a return of 35.45 per cent while market capitalisation rose by 37.37 per cent from N6.532 trillion at the beginning of the year to N8.974 trillion. Wusu explained that the performance was an improvement over the lull experienced in 2011 when market witnessed a negative return of -17.42 per cent but regretted that at the global arena, not all markets have recovered when compared to their 2008 levels when markets were at their peak. He said that foreign participation accounted for over 65 per cent of total volumes of trades within the year in Nigeria, while advocating for improved domestic participation to build enhanced market confidence. This, he said can be achieved by collective investment schemes, increasing equity allocation of Pension Fund Administrators (PFAs) and creating a pool of special fund at compelling rates for market makers. He also called for more listings in the oil and gas, telecom, power sectors and other privatised entities in the economy as well as increase activities of sub national and municipals in the bond market.

Rewane

Wusu also called for more risk-based supervision and enhanced oversight functions by regulators as such would entrench corporate governance and deal with market infractions. “Given the level of performance in 2012, the capital market is expected to witness another impressive performance this year. Performance will be driven more by strong macroeconomic environment, good corporate performance and companies’ fundamentals. Expected monetary policy easing in 2013 should induce investment switch to favour stock market even as bond issuance by sub nationals would continue,” he said. Also, Managing Director, Financial Derivatives Company Limited (FDC), Bismarck Rewane said that the Gross Domestic Product (GDP) rebasing expected to take place this year will also add N400 billion to the GDP. The GDP is currently estimated at $273.8 billion. He said that by carrying out the exercise, Nigeria will be emulating Malaysia and South Africa which rebased their GDPs from 2000 to 2005 each and Ghana- from 1993 to 2006. He said rebasing the GDP would make the rich richer and poor poorer while the country’s growth trajectory will decline.

The GDP is the market value of all final goods and services produced within a country, calculated using product, income and expenditure approaches. According to Rewane, real GDP is one that is adjusted for inflation while nominal GDP is the value of goods and services based on current market prices. He further explained that Gross National Product (GNP) measures the value of goods and services produced by a country’s citizens regardless of their location while Gross National Income (GNI) is GDP plus income receipts minus income payments from the rest of the world. He said that Nigeria’s real GDP growth could decline from seven per cent to five per cent in 2013 adding that fiscal deficit as a percentage of GDP is usually at a threshold of three per cent. Applying this principle, maximum deficit for 2013 would have been N1.3 trillion while the rebasing will allow for a deficit of N900 billion or 1.5 per cent. Notwithstanding, Nigeria, he said will still be able to meet the convergence criteria for ECOWAS even as the level of inequality in an economy is magnified. Rewane said that lower interest rates may not always boost spending and could result into liquidity trap for the economy. He said that declining interest rate environment expected in 2013 even as interest rate will continue to be market driven. “Interest rates to be influenced by the Central Bank of Nigeria’s adjustments of the Monetary Policy Rate (MPR) which is likely to be reduced from current level of 12 per cent per annum. But complete removal of fuel subsidy will stall interest rate reduction due to inflationary threats,” he said BC

Market Indicators for Week Ended 11-01-13 All-Share Index 29,202.01 points Market Capitalisation N9,339,459,026,519.81 Stock Updates GAINERS COMPANY

OPENING PRICE

CLOSING PRICE

CHANGE

STERLNBANK

1.97

2.15

0.18

CUSTODYINS

1.44

1.57

0.13

FIDELITYBK

2.81

3.00

0.19

AIICO

0.70

0.74

0.04

DANGSUGAR

6.54

6.90

0.36

LOSERS COMPANY

OPENING PRICE

CLOSING PRICE

CHANGE

JOHNHOLT

3.07

2.92

0.15

UTC

0.87

0.83

0.04

FCMB

4.89

4.67

0.22

IKEJAHOTEL

0.97

0.93

0.04

NPFMCRFBK

1.08

1-04

0.04

Analysts project single digit inflation for January

nalysts at FSDH Research have forecast that Nigeria’s Composite Consumer Price Index (CCPI) in December 2012 would rise by 123 basis points to 141.7 points in December, which will produce an inflation rate of 12.5 per cent, 20 basis points higher than 12.3 per cent recorded in the month of November. According to the report, “For inflation to fall below 12.3 per cent in December the CCPI must increase by at least 101 basis points month-on-month, which in our opinion is unlikely. Going into the year 2013, inflation rate is expected to drop to single digit as a result of base effects.” The National Bureau of Statistics (NBS) is expected to release the inflation figure for the month of December 2012

next week ahead of the Monetary Policy Committee (MPC) Meeting of the Central Bank of Nigeria (CBN) scheduled to hold between January 21 and 22, 2013. The latest inflation rate for the month of November 2012 was 12.3 per cent, an increase from 11.7 per cent recorded in the month of October 2012. FSDH Research, in its “Inflation Watch” for the month of November, released an inflation forecast of 12.1 per cent for the month of November 2012. The monthly Composite Consumer Price Index (CCPI) for All Items for the month of November stood at 140 points, an increase of 0.60 per cent between October 2012 and November 2012. The CCPI 12-month average for November

stood at 12.1 per cent, up from 11.9 per cent in October 2012. The effects of the flood which occurred from September to mid-October, as well as other demand and supply conditions were responsible for the increase. According to FSDH Research, an analysis of the foreign exchange rate shows that the value of Naira depreciated marginally against the US Dollar in the month of December, 2012 by 0.01 per cent. Consequently, the depreciation in the value of Naira in December 2012 coupled with the demand pressure associated with the festivity period added to the increase in prices of imported consumer goods in Nigeria during the month under review. BC

Inter-Bank Rates TENOR

RATE%(PREV) 03-Jan-2013

RATE%(CURR) 10-Jan-2013

CALL

10.2500 – 11.0000

11.5000 – 12.7500

OBB

10.2500 – 11.7000

11.5000 – 12.5000

Primary Market Auction TENOR

AMOUNT (N’mn)

RATE (%)

DATE

91-Days

30159.21

11.55

09-Jan-13

182-Days

50403.15

11.60

09-Jan-13

364-Days

85845.41

11.79

09-Jan-13

Open Market Operation TENOR 139-Days

AMOUNT (N’mn) 50,000

RATE (%) 13.32

DATE 04-Jan-13

132-Days

50,000

13.28

04-Jan-13

119-Days

100,000

13.29

03-Jan-13

Wholesale Dutch Auction System AMOUNT OFFERED

MARKET DEMAND

AMOUNT SOLD

DATE

$100m

$43m

09-Jan-13

$150m

07-Jan-13

A22 38

Business Courage

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Vitafoam Plc: Impairment caused by borrowed funds By Tayo Adeleke

nalysis carried out on Vitafoam Nigeria Plc audited report for year ended September 30, 2012, shows that there is a great challenge before the new management of the company. The company’s profit cannot be matched with the funds invested in new subsidiaries and market expansion. Ordinarily, the investment should reflect on the company’s sales and boost its earning, but the reverse is the situation as its sales continue to nosedive, resulting in low profitability. Indeed, the investment has only not yielded expected results; the company has also been bogged down by huge interest on borrowing. This particular area needs to be addressed by the new managing director. Vitafoam Plc has regularly been exposed to loans with little or no impact on its sales. Borrowing moved from N2.89 billion in 2011 to N3.12 billion in 2012 while turnover dropped from N14.52 billion to N14.48 billion in 2012. Since inception, the company has produced quality domestic and industrial products that add absolute value and comfort to life for work, school, leisure, health, maternity and child growth. Established in 1962 by two giants; British Vita and Unilever and listed on the floor of the Nigerian Stock Exchange in 1978, Vitafoam is now a wholly Nigerian- owned company with a highly diversified shareholding structure. Staff of the company holds some 22.2 per cent equity stake while shareholdings by government institutions were insignificant at 0.14 per cent.

Board changes Towards the end of last Vitafoam Financial Data Turnover

Ajiga

financial year ended September 30 2012, Vitafoam announced the appointment of Joel Olatoye Ajiga as the new managing director effective October 1, 2012. The board also appointed Taiwo Ayodele Adeniji as an executive director. Ajiga replaces B. O. Makanjuola who retired in September 30, 2012, after years of meritorious service to the company. Ajiga himself has spent 21 years in the company having joined Vitafoam in 1991 as production manager. Operating performances It seems the management of Vitafoam Plc has not got the appropriate strategies to tackle fluctuating earnings and declining profit margins recently 2012 =N=(‘Nm)

2011 =N=(‘Nm)

14,479,781

14,520,780

Cost of sales

9,336,174

10,166,486

Gross Profit

5,143,607

4,354,294

Profit Before Taxation

813,250

823,566

Profit After Taxation

502,115

518,850

Total Assets

10,423,641

9,292,771

2,959,978

2,513,586

Distribution Expenses

945,191

840,090

Taxation

311,135

304,716

3,083,735

2,806,502

Admin Expenses

Shareholders fund Interest Expenses

542,190

357,316

Current Asset

6,568,747

5,958,322

Current Liabilities

6,379,794

5,475,686

Fixed Assets

2,914,448

2,568,898

Current Assets-stocks

1,613,359

1,617,040

Trade Debtors

843,581

769,775

2,936,820

2,293,233

Return on Equity(%)

16.28

18.49

Gross profit Margin(%)

35.52

29.99

Profit Margin(%)

3.47

3.57

Pre tax Profit Margin(%)

5.62

5.67

Current Ratio

1.03

1.09

Quick Ratio

0.25

0.3

Debtors(No of days)

21.26

19.35

Creditors(No of days)

114.82

82.33

Trade Creditors Profitability Ratios

Liquidity Ratios

witness by the company. This was as a result of the huge operating cost and administrative expenses. The company recorded a five-year average growth rate of 7.36 per cent in profit before tax with high fluctuations. Pretax profit initially decreased by 23 per cent from N1.01 billion in 2008 to N781 million in 2009 and later increased by 5.38 per cent to N823 million in 2010 before it inched up to N824 million in 2011. Like the PBT, the company’s net profit has not been stable in recent times. It moved from N513 million in 2010 to N518 million in financial year ended 2011 before it dropped to N502 million in the reviewed year. However, cost of sales reduced by 8.17 per cent to N9.34 billion from N10.17 billion in 2011 while gross profit closed at N5.14 billion in 2012 from N4.35 billion in 2011. Profitability The company’s failure to rake in more income which consequently led to drop in turnover greatly impacted on its profitability indices. Return on equity (ROE), which reveals how much profit a company earns in comparison to the total amount of shareholders’ funds moved

to lowest figure in five year during the financial year ended September 2012. ROE dropped from a peak of 36.8 in 2008 to 16.28 per cent in 2012. The company’s net profit margin has also been on a downward trend over the past five financial years as a result of increasing production costs, evidenced by the upward trend in the ratio of cost to income. Its profit margin declined from 3.57 per cent in 2011 to 3.47 percent in 2012. Pretax margin as well dropped to 5.62 per cent in 2012 from 5.67 per cent posted in 2011. However, after achieving a marginal increase in 2011 to 29.99 per cent from 29.38 per cent in 2010, gross profit margin moved significantly to 35.52 per cent in 2012, meaning that the company spent 64.48 per cent of sales as operating expenses, down from 70.01 per cent in comparable period of 2011. Vitafoam’s return on assets (ROA) nose-dived from 2011 to 2012 financial years. ROA fell from 5.58 per cent in 2011 to 4.81 per cent in 2012. Liquidity and Efficiency Vitafoam’s liquidity position looks vulnerable as revealed by its current asset and acid test indices. This showed that the company could not meet it financial obligation to its debtors. The company’s current asset is 1.03 times. Put differently, its current assets cover its short-term obligations by 103 per cent, (this is below the acceptable standard of 200 per cent). Similarly, quick ratios (acid test indices) stood at 0.25 times as at the recent financial year-ended September 30, 2012, compared to 0.30 times record in 2011. This downward trend is attributable to increase in current liabilities in the reviewed period. Current liabilities increased to N6.38 billion from N5.48 billion in 2011. Vitafoam’s debt management indices revealed an appreciable trends as the average collection day (debtor number of days) dropped progressively from 26 days in 2010 to 21 days in 2012 while creditor’s number of days increased from 82 days

to 115 days. These observations therefore suggest that the company has been efficient in its debt recovery approach. Meanwhile, as the company’s debtors make payment within 21 days, it took the company 115 days to pay its creditors (creditor’s number of days). This means that the cash always remains with it for longer period and consequently makes cash available. Capital Adequacy The company’s total debt to fixed asset, which measures the proportion of fixed assets financed by debt, averaged 60 per cent between 2008 and 2012. The company’s financial leverage, which initially dropped from 60.9 per cent in 2009 to 24.17 per cent in 2010 rose significantly to 119.2 per cent and 106.9 per cent in 2011 and 2012 respectively. This therefore suggests an increased exposure to financial risks. The increase in financial leverage signifies financial threat; it could be partly responsible for the decline in the company’s return on equity as a result of huge interest charge paid on borrowed funds. Meanwhile, the increase in the company exposure to financial could be easily traced to various expansion projects embarked upon by the management. Investment Ratio The company recorded cumulative average earnings of 4.4 per cent, with a high and low record of 8.54 per cent and -3.28 per cent in 2008 and 2012 respectively. It was observed that the company has a consistent policy on dividend and bonus issue, thus posting adequate return on investment. The company has been paying dividend every year while seven bonus issues have been made. The five year average dividend payout stands at 29 kobo per share, with an average pay-out of 30 kobo per share in the last three years. The current market capitalization stood at N3.03 billion. Vitafoam’s price hovered around N3.0 and N7.0 for a greater part of the year 2012. The year high was N6.75 while year low was N3.01. Future The company’s management needs to deal with growing borrowed funds in order to improve its profitability. There is also the need for the management to practice cost effective management in order to improve its profit margin and thereby increase shareholders returns. However, Vitafoam Plc is expected to sustain its leadership position in the sector in the coming year as a result of its marketing drive, diversification and expansion into new markets in the West African Sub region which will consequently boost its earnings in years ahead. BC

National Mirror www.nationalmirroronline.net

Business Courage A23 39

Monday, January 14, 2013

STOCKWATCH Stock Exchange weekly equities summary as at Friday, Jan 11, 2013 SECURITY

PRICE (=N=)

AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC 0.50 OKOMU OIL PALM PLC. 49.00 PRESCO PLC 20.00 Fishing/Hunting/Trapping ELLAH LAKES PLC. NT Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 1.42 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. 1.41 CHELLARAMS PLC. NT JOHN HOLT PLC. 2.92 S C O A NIG. PLC. NT U A C N PLC. 42.50 CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. NT CAPPA & D’ALBERTO PLC. NT Building Structure/Completion/Other COSTAIN (W A) PLC. NT G CAPPA PLC NT Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 34.01 ROADS NIG PLC. NT Real Estate Development PINNACLE POINT GROUP PLC NT UACN PROPERTY DEV 11.80 Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC NT UNION HOMES REAL ESTATE INV NT CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC 0.50 Beverages--Brewers/Distillers CHAMPION BREW. PLC. NT GOLDEN GUINEA BREW. PLC. NT GUINNESS NIG PLC 290.00 INTERNATIONAL BREWERIES PLC. 16.60 JOS INT. BREWERIES PLC. NT NIGERIAN BREW. PLC. 150.41 PREMIER BREWERIES PLC NT Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 45.00 Food Products BIG TREAT PLC NT DANGOTE FLOUR MILLS PLC 8.48 DANGOTE SUGAR REFINERY PLC 6.90 FLOUR MILLS NIG. PLC. 65.00 HONEYWELL FLOUR MILL PLC 2.19 MULTI-TREX INTEGRATED FOODS PLC NT N NIG. FLOUR MILLS PLC. 18.38 NATIONAL SALT CO. NIG. PLC 8.39 P S MANDRIDES & CO PLC. NT U T C NIG. PLC. 0.83 UNION DICON SALT PLC. NT Food Products--Diversified CADBURY NIGERIA PLC. 29.26 NESTLE NIGERIA PLC. 716.00 Household Durables BETA GLASS CO PLC. NT NIGERIAN ENAMELWARE PLC. NT VITAFOAM NIG PLC. 4.00 VONO PRODUCTS PLC. NT Personal/Household Products P Z CUSSONS NIGERIA PLC. 28.12 UNILEVER NIGERIA PLC. 46.40 Textiles/Apparel UNITED NIG. TEXTILES PLC. NT FINANCIAL SERVICES Banking ACCESS BANK PLC. 9.94 DIAMOND BANK PLC 5.75 ECOBANK TRANSNATIONAL INC. 11.80 FIDELITY BANK PLC 3.00 FIRST CITY MONUMENT BANK PLC. 4.67 GUARANTY TRUST BANK PLC. 25.10 SKYE BANK PLC 5.44 STERLING BANK PLC. 2.15 U B A PLC NT UNION BANK NIG.PLC. 7.79 UNITY BANK PLC 0.50 WEMA BANK PLC. 0.52 ZENITH BANK PLC 20.13 Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC NT AIICO INSURANCE PLC. 0.74 CONFIDENCE INSURANCE PLC NT CONSOLIDATED HALLMARK INS. PLC NT CONTINENTAL REINSURANCE PLC 0.82 CORNERSTONE INS. COY. PLC. 0.50 CUSTODIAN AND ALLIED INS. PLC 1.57 EQUITY ASSURANCE PLC. NT GOLDLINK INSURANCE PLC NT GREAT NIGERIAN INSURANCE PLC NT GUINEA INSURANCE PLC. NT INTERCONTINENTAL WAPIC INS. PLC 0.71 INTERNATIONAL ENERGY INS. PLC 0.50 INVESTMENT AND ALLIED ARN. NT LASACO ASSURANCE PLC. 0.50 LAW UNION AND ROCK INS. PLC. NT LINKAGE ASSURANCE PLC NT MANSARD INSURANCE PLC 2.00 MUTUAL BENEFITS ASSURANCE PLC. NT N.E.M INSURANCE CO (NIG) PLC. 0.53 NIGER INSURANCE CO. PLC. NT OASIS INSURANCE PLC NT PRESTIGE ASSURANCE CO. PLC. 0.51 REGENCY ALLIANCE INS. COY PLC NT SOVEREIGN TRUST INSURANCE PLC NT STACO INSURANCE PLC NT STANDARD ALLIANCE INS. PLC. 0.50 UNIC INSURANCE PLC. 0.50 UNITY KAPITAL ASSURANCE PLC NT UNIVERSAL INS. COMPANY PLC NT Micro Finance Banks FORTIS MICROFINANCE BANK PLC 6.00 NPF MICROFINANCE BANK PLC 1.04 Mortgage Carriers, Brokers &Services ABBEY BUILDING SOCIETY PLC NT ASO SAVINGS AND LOANS PLC 0.50 RESORT SAVINGS & LOANS PLC 0.50 UNION HOMES SAVINGS&LOANS PLC NT Other Financial Institutions CRUSADER ( NIG) PLC. NT DEAP CAPITAL MGT & TRUST PLC 2.02 FBN HOLDINGS PLC 17.20 NIG SEW. MACH. MAN. CO. PLC. NT NIGERIA ENERYGY SECTOR FUND NT ROYAL EXCHANGE PLC. NT STANBIC IBTC HOLDINGS PLC 11.50 HEALTHCARE Healthcare Providers EKOCORP PLC. NT Medical Equipment UNION DIAGNOSTIC &CLINICAL PLC 0.50 Medical Supplies MORISON INDUSTRIES PLC. NT Pharmaceuticals EVANS MEDICAL PLC. 0.79 FIDSON HEALTHCARE PLC 1.11 GLAXO SMITHKLINE CONSUMER PLC 45.10 MAY & BAKER NIGERIA PLC. 1.70

NOTE NT=Not Traded on 11-01-13

QUANTITY

52 WK HIGH

52 WK LOW

SHARES OUTSTANDING

EPS

MOV. (%)

70 000 225 966 2 927 600

0.64 34.01 16.15

0.50 14.53 6.40

2 200 000 000 476 955 000 1 000 000 000

0.10 6.73 2.75

N/A 9.82 -3.47

0.50 44.62 20.72

4.26

60 000 000

0.00

N/A

512 400

1.70

0.48

1 199 549 736

0.11

-2.74

1.46

9 000 NT 61 500 NT 368 543

2.54 7.60 8.82 8.28 42.50

0.74 5.81 5.32 5.52 28.70

2 191 895 983 963 900 300 389 151 408 821 666 666 1 600 720 323

0.08 0.24 0.00 0.35 6.89

0.00 N/A N/A N/A N/A

1.41 NT 3.07 NT 42.00

NT NT

26.00 95.49

14.09 95.49

148 500 000 196 876 000

0.00 4.50

N/A N/A

NT NT

7.97 14.46

2.46 14.46

920 573 765 125 000 000

0.00 0.00

N/A N/A

NT NT

69 318 NT

62.26 8.69

21.55 3.01

1 200 000 000 20 000 000

4.93 4.73

1.58 N/A

33.48 NT

NT 14 693

7.28 20.15

7.28 8.82

1 375 000 000

0.00 1.66

N/A 0.00

NT 11.80

NT NT

100.00 50.00

97.00 50.00

20 000 000 250 019 781

11.75 0.75

N/A N/A

NT NT

6 500

0.50

4 772 528 415

0.00

N/A

0.50

NT NT 307 416 901 084 NT 804 131 NT

4.63 0.68 265.00 12.83 3.20 138.85 0.97

2.23 0.68 186.00 5.23 1.61 72.50 0.93

900 000 000 272 160 000 1 474 925 519 2 112 914 681 562 000 000 7 562 562 340 126 000 000

0.00 0.03 9.46 0.25 0.00 5.08 0.00

N/A N/A 6.23 N/A N/A 0.91 N/A

NT NT 273.00 16.50 NT 149.06 NT

6 708

48.91

38.31

640 590 362

2.69

N/A

42.00

NT 7 193 341 2 855 978 270 855 2 994 378 NT 3 156 590 130 NT 173 223 NT

0.50 19.90 16.20 95.00 6.60 2.70 43.96 6.70 5.66 0.88 4.22

0.50 4.15 3.64 52.50 1.91 1.00 20.41 3.86 5.66 0.50 4.22

2 000 000 000 5 000 000 000 12 000 000 000 1 879 210 666 7 930 197 658 3 722 493 620 178 200 000

0.00 0.00 0.91 3.79 0.51 0.00 2.50 1.07 0.08 1.13 0.00

N/A 3.04 4.55 0.00 1.86 N/A N/A 3.58 N/A 0.00 N/A

NT 8.23 6.60 65.00 2.15 NT 18.38 8.10 NT 0.83 NT

40 000 000 1 233 375 004 360 000 000

209 976 42 239

29.20 684.00

9.15 367.83

3 129 188 160 792 656 250

1.35 25.43

0.90 2.13

29.00 701.10

NT NT 1 092 852 NT

15.58 42.66 6.75 3.67

10.03 34.39 3.01 2.66

63 360 000 819 000 000 300 000 001

3.90 1.61 0.54 0.00

N/A N/A 3.90 N/A

NT NT 3.85 NT

114 252 174 043

43.50 41.60

22.07 22.56

3 176 381 636 3 783 296 250

0.70 1.44

2.03 -1.59

27.56 47.15

0.97

0.57

843 284 027

0.00

N/A

10 018 506 10 722 006 5 515 453 16 253 200 6 328 164 10 832 292 7 348 007 23 876 965 NT 858 747 3 456 770 4 189 479 39 324 748

11.10 9.27 17.05 3.20 8.30 20.30 10.17 2.91 5.21 10.07 1.92 1.75 18.20

4.76 2.01 9.97 1.14 3.04 11.64 2.73 0.97 1.64 1.96 0.50 0.50 11.70

17 888 251 479 14 475 243 105 9 873 614 567 28 974 797 023 16 271 192 202 29 146 482 209 13 219 334 676 12 563 091 545 32 334 693 693 13 509 726 273 33 675 576 085 12 821 249 880 31 396 493 790

1.42 0.90 2.81 0.43 0.60 2.10 0.71 0.54 0.67 0.00 0.00 0.00 2.09

5.07 6.09 5.92 10.29 -0.64 -0.20 5.63 8.59 #VALUE! 3.87 0.00 0.00 1.72

9.46 5.42 11.14 2.72 4.70 25.15 5.15 1.98 NT 7.50 0.50 0.52 19.79

NT 8 025 584 NT NT 368 000 200 000 1 915 311 NT NT NT NT 827 188 11 666 NT 27 809 NT NT 800 825 NT 13 317 800 NT NT 600 116 NT NT NT 1 000 2 000 NT NT

0.50 1.01 0.64 0.50 1.20 0.50 3.51 0.50 0.69 0.50 0.50 0.80 0.50 0.50 0.50 0.61 0.50 1.93 0.50 0.66 1.11 0.50 2.35 0.50 0.52 0.50 0.50 0.50 0.50 0.50

0.50 0.50 0.61 0.50 0.61 0.50 1.31 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.95 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50

20 585 000 000 7 809 391 256 211 626 000 6 000 000 000 10 372 624 157 8 820 010 363 5 100 846 808 8 847 298 420 4 549 947 000 3 827 485 380 720 000 000 5 061 804 000 6 420 427 449 28 000 000 000 7 323 313 227 3 437 330 500 4 083 713 569 10 000 000 000 7 998 705 336 5 332 830 881 5 649 693 923 5 003 506 791 2 508 315 436 6 668 750 000 5 203 757 266 6 141 087 609 8 493 173 450 2 581 733 505 13 000 000 000 16 000 000 000

0.00 0.05 0.00 0.05 0.14 0.02 0.28 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.03 0.16 0.01 0.37 0.02 0.04 0.06 0.04 0.09 0.00 0.00 0.00 0.02 0.00

N/A 0.00 N/A N/A 0.00 0.00 0.00 N/A N/A N/A N/A N/A 0.00 N/A N/A N/A 0.00 4.71 N/A -13.11 N/A N/A -1.92 N/A 0.00 N/A N/A N/A N/A N/A

NT 0.72 NT NT 0.77 0.50 1.44 NT NT NT NT 0.63 NT NT 0.50 NT NT 1.91 NT 0.61 NT NT 0.52 NT NT NT NT 0.50 NT NT

300 15 187 968

6.00 1.15

0.00 1.00

NT 54 000 100 NT

1.51 0.50 0.50 0.99

1.33 0.50 0.50 0.50

4 200 000 000 8 679 148 676 13 175 732 404 7 812 500 000

0.03 0.02 0.00 0.00

N/A N/A N/A N/A

NT 0.50 0.50 NT

NT 5 000 000 15 463 894 NT NT NT 62 315

0.61 2.02 17.01 0.15 552.20 0.66 11.38

0.50 2.02 8.50 0.15 555.20 0.50 6.40

3 778 005 975 1 333 333 333 32 632 084 358 5 880 000 2 500 000 3 608 657 661 18 750 000 000

0.00 0.00 3.03 0.00 12.65 0.00 0.87

N/A N/A 1.30 N/A N/A N/A 4.55

NT 2.02 16.98 NT NT 0.50 11.00

5.31

5.05

498 600 908

0.12

N/A

5 000

0.50

3 553 138 528

0.00

N/A

0.50

10.54

7.39

152 178 750

0.06

N/A

100 297 080 44 299 165 150

1.45 3.20 39.00 5.61

0.50 0.76 19.30 1.62

486 473 856 1 500 000 000 956 701 192 980 000 000

0.00 0.44 2.62 0.20

-9.20 1.83 0.00 0.00

0.87 1.09 45.10 1.70

N/A=Not Avialable

0.01 0.07

NT 1.18

SECURITY

PRICE (=N=)

NEIMETH INT PHARM PLC 0.91 NIGERIA-GERMAN CHEMICALS PLC. NT PHARMA-DEKO PLC. NT ICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 Computers and Peripherals OMATEK VENTURES PLC 0.50 Electronic Communications Services MTECH COMMUNICATIONS PLC NT IT Services NCR (NIGERIA) PLC. 15.08 TRIPPLE GEE AND COMPANY PLC. NT Processing Systems CHAMS PLC 0.50 E-TRANZACT INTERNATIONAL PLC NT Telecommunications Carriers STARCOMMS PLC NT Telecommunications Services IHS NIGERIA PLC PREF SHARES NT IHS PLC NT MTI PLC NT INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. NT ASHAKA CEM PLC 19.98 BERGER PAINTS PLC 8.98 CAP PLC 29.00 CEMENT CO. OF NORTH.NIG. PLC 6.31 DANGOTE CEMENT PLC 126.00 DN MEYER PLC. NT FIRST ALUMINIUM NIGERIA PLC NT IPWA PLC 0.50 LAFARGE WAPCO PLC. 58.35 PAINTS & COATINGS MANFACT.PLC NT PORTLAND PAINTS & PRDT NIG. PLC 4.28 PREMIER PAINTS PLC. NT Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC NT CUTIX PLC. 1.60 NIGERIAN WIRE AND CABLE PLC. NT NIGERIAN WIRE IND. PLC NT Packaging/Containers ABPLAST PRODUCTS PLC. NT AVON CROWNCAPS & CONTAINERS 1.90 BETA GLASS CO PLC. 10.47 GREIF NIGERIA PLC 12.98 NIG. BAGS MANFACT. COY PLC 2.40 POLY PRODUCTS (NIG) PLC. NT W A GLASS IND. PLC. NT Tools and Machinery NIGERIAN ROPES PLC 7.85 STOKVIS NIG PLC. NT NATURAL RESOURCES Chemicals B.O.C. GASES PLC. 6.56 Metals ALUMACO PLC NT ALUMINIUM EXTRUSION IND. PLC. NT Non-Metallic Mineral Mining MULTIVERSE PLC 0.50 Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT THOMAS WYATT NIG. PLC. NT OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.58 Integrated Oil and Gas Services OANDO PLC 13.60 Petroleum &Petroleum Products Distributors AFROIL PLC NT BECO PETROLEUM PRODUCT PLC 0.50 CONOIL PLC 21.52 ETERNA PLC. 2.67 FORTE OIL PLC. 9.83 MOBIL OIL NIG PLC. 109.25 MRS OIL NIGERIA PLC. 22.58 TOTAL NIGERIA PLC. 131.80 SERVICES Advertising AFROMEDIA PLC NT Apparel Retailers LENNARDS (NIG) PLC. NT Automobile/Auto Part Retailers R T BRISCOE PLC. 1.60 Courier/Freight/Delivery RED STAR EXPRESS PLC 3.09 TRANS-NATIONWIDE EXPRESS PLC. NT Employment Solutions C & I LEASING PLC. NT Hospitality TANTALIZERS PLC 0.50 Hotels/Lodging CAPITAL HOTEL PLC NT IKEJA HOTEL PLC 0.93 TOURIST COMPANY OF NIGERIA PLC. NT TRANSNATIONAL CORP. OF NIG.PLC 1.08 Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 Printing/Publishing ACADEMY PRESS PLC. 1.62 LEARN AFRICA PLC 2.10 STUDIO PRESS (NIG) PLC. NT UNIVERSITY PRESS PLC. 4.37 Road Transportation ABC TRANSPORT PLCPLC NT Specialty INTERLINKED TECHNOLOGIES PLC NT SECURE ELECTRONIC TECH.PLC NT Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 5.25 NIG. AVIATION HANDLING COY PLC 6.28 ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT CONSUMER GOODS Food Products MCNICHOLS PLC 0.97 Personal/Household Products ROKANA INDUSTRIES PLC. 0.60 HEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT INDUSTRIAL GOODS Electronic and Electrical Products NT ADSWITCH PLC. 1.63 NATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT OIL AND GAS Petroleum & Petroleum Products Distributors ANINO INTERNATIONAL PLC. NT CAPITAL OIL PLC 0.50 RAK UNITY PET. COMP. PLC. NT UNION VENTURES & PET. PLC NT SERVICES Apparel Retailers UDEOFSON GARMENT FACT. NIG PLC NT Food/Drug Retailers and Wholesalers NT JULI PLC. 2.76 ETF’s Sector ETF NEWGOLD EXCHANGE TRADED FUND 2 638.00

QUANTITY

52 WK HIGH

52 WK LOW

SHARES OUTSTANDING

EPS

MOV. (%)

128 715 NT NT

1.96 12.91 4.28

0.76 8.59 3.50

1 925 717 268 153 786 012 100 000 000

0.09 0.00 0.00

-4.21 N/A N/A

0.95 NT 2.47

5 002 000

0.52

0.50

2 960 000 000

0.10

0.00

0.50

1 100

0.50

2 941 789 472

0.00

N/A

0.50

0.91

4 966 666 668

0.00

N/A

13 187 NT

18.28 3.59

13.12 2.41

108 000 000 492 825 600

0.00 0.01

N/A N/A

15.08 NT

39 256 NT

0.50 4.97

0.50 4.04

4 620 600 000 4 200 000 000

0.00 0.04

N/A N/A

0.50 NT

1.47

0.50

6 878 478 096

0.00

N/A

NT NT NT

2.25 3.50 0.50

0.00 2.46 0.50

4 400 000 000 4 893 594 400

0.00 0.00 0.00

N/A N/A N/A

NT NT NT

NT 462 283 3 000 15 137 483 166 91 780 NT NT 500 1 263 213 NT 460 420 NT

3.32 30.00 12.57 43.98 15.49 132.51 3.51 0.75 0.99 56.50 3.36 5.28 13.40

2.86 9.10 7.27 14.50 4.20 95.00 0.93 0.50 0.91 37.00 0.52 2.27 10.93

260 000 000 2 239 453 125 217 367 585 560 000 000 1 241 548 285 15 494 019 668 242 908 200 2 109 928 275 513 696 000 3 001 600 004 792 914 256 400 000 000 75 000 000

0.00 2.14 1.09 2.28 1.47 8.33 0.00 0.00 0.00 4.10 0.26 0.23 0.00

N/A 8.65 0.00 3.57 12.48 0.80 N/A N/A N/A 6.09 N/A N/A N/A

NT 18.39 8.98 28.00 5.61 125.00 NT NT 0.50 55.00 1.96 4.10 NT

NT 15 000 NT NT

2.00 2.50 0.73 2.58

2.00 1.33 0.50 2.58

510 396 608 2 220 000 000 15 000 000

0.03 0.11 0.00 0.00

N/A 9.59 N/A N/A

NT 1.46 NT NT

NT 14 919 34 500 21 4 079 884 NT NT

3.98 6.91 12.71 15.03 3.60 1.86 0.63

3.98 2.19 9.53 13.28 1.60 1.05 0.63

N/A N/A

42 640 000 6 215 000 000 240 000 000 199 066 550

0.00 0.05 0.05 0.90 0.24 0.22 0.00

N/A 0.00 N/A N/A

NT 1.90 NT NT 2.40 NT NT

40 NT

8.69 0.14

8.26 0.14

265 409 280 2 918 000

0.00 0.00

N/A N/A

7.85 NT

25 000 000 683 974 528

494

9.20

5.70

393 120 000

0.76

4.96

6.25

NT NT

7.75 12.39

7.75 10.55

75 600 000 100 000 000

0.00 0.43

N/A N/A

NT NT

70 000

0.50

4 058 989 226

0.00

N/A

0.50

NT NT

3.22 1.38

50 000 000 220 000 000

0.04 0.00

N/A N/A

NT NT

2 971 685

1.02

0.54

6 262 701 716

0.13

-3.33

0.60

1 308 994

24.80

10.94

2 262 711 568

1.73

9.59

12.41

NT 400 400 37 802 1 623 796 164 577 54 309 557 74 000

20.71 0.70 41.89 5.59 28.69 163.50 72.00 240.00

20.71 0.50 19.61 2.12 9.12 111.51 32.29 125.00

125 487 475 3 716 976 579 693 952 117 1 249 162 828 1 080 280 628 300 496 051 253 988 672 339 521 837

0.00 0.00 0.47 0.61 0.00 6.11 3.62 14.63

N/A N/A 4.98 17.11 21.21 0.00 N/A 9.31

NT 0.50 20.50 2.28 8.11 109.25 NT 120.57

0.72

0.50

4 035 497 307

0.00

N/A

3.48

0.19

N/A

232 646

3.65

1.12

980 294 400

0.21

3.23

1.55

12 300 NT

3.67 6.40

2.11 3.28

589 496 310 198 819 763

0.58 0.25

3.00 N/A

3.00 NT

1.64

0.85

865 808 912

0.08

N/A

70 000

0.75

0.50

3 211 627 907

0.01

N/A

0.50

NT 1 366 900 NT 30 702 332

8.00 2.59 4.76 1.82

3.00 1.16 4.31 0.50

1 548 780 000 2 078 796 396 1 772 884 297 25 813 998 283

0.18 0.92 0.00 0.22

N/A 2.20 N/A 0.00

6.27 0.91 NT 1.08

5 000

0.50

8 000 000 000

0.00

N/A

0.50

4 800 192 034 NT 221 315

3.68 8.00 2.92 6.82

1.64 1.94 2.78 3.09

403 200 000 771 450 000 425 641 111

0.14 0.29 0.01 0.50

N/A N/A N/A -2.89

1.62 1.92 NT 4.50

0.80

0.50

1 507 000 000

0.00

N/A

NT NT

5.15 1.88

4.90 0.80

236 699 511 5 631 539 736

0.00 0.03

N/A N/A

NT NT

287 480 1 253 591

2.78 11.75

1.54 5.15

634 000 000 1 230 468 750

0.38 0.81

N/A 6.08

4.40 5.92

1.43

1.04

45 000 000

0.12

N/A

11 000

1.02

201 885 335

0.00

N/A

0.97

500

0.60

30 000 000

0.00

N/A

0.60

0.50

24 898 850

0.00

N/A

NT 500

1.88

1.63

125 005 250

0.00

N/A

NT 1.63

0.50

6 650 000

0.00

N/A

NT 20 000 NT NT

0.21 0.50 0.31 0.63

24 200 000 5 857 500 000 15 000 000 98 600 000

0.00 0.00 0.00 0.00

N/A N/A N/A N/A

NT 0.50 NT NT

NT NT 16 000

0.50

20 000 000

0.00

N/A

3.05

2.76

194 700 000

0.00

N/A

NT NT 2.76

100

2 706

2 422

0.00

2 638.00

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Law & Justice nationalmirrorlaw@yahoo.com

“The reasoning in religion is one of God or Allah which passeth all Jurisprudence.” FORMER JUSTICE OF THE SUPREME COURT, LATE JUSTICE KAYODE ESO

Constitution review: Lawyers’ perspectives on fiscal federalism Nigeria is on the march again in her quest to amend the 1999 constitution. The Assistant Head of the Judiciary Desk, KAYODE KETEFE, in this piece, highlights lawyers’ perspectives on the most controversial topic on the proposed amendment, viz, fiscal federalism.

Zoning of judicial appointment robs us of quality –Keyamo 42

How Supreme Court restored FRA Williams’ damages against Daily Times 45

President of the Senate, David Mark

number of diverse issues are being currently proposed for incorporation into a new people’s constitution as Nigeria resumes this year, the fourth attempt to amend the 1999 Constitution, which it began in 2012. The said 1999 Constitution has undergone not less than three amendments between 2010 and last year, all of which the lawyers, political pundits and other stakeholders see as nothing more than scratching the surface of the grounds. The said amendments only relate to the minor electoral reforms and the incorporation of the National Industrial Court into the Constitution as a superior court of record. Almost all stakeholders believe that the major amendments that the people want have not been addressed. It is even the contention of some of the stakeholders that piecemeal amendments that we have been doing on the 1999 Constitution would not solve our major problems, this class of agitators therefore called for outright abolition of the 1999 Constitution and development of a new autochthonous constitution that would truly reflect the wishes and aspirations of the peoples of Nigeria. While it refused to defer to the proposal of those calling for abolition of the present grundnorm, the Nigerian Senate nevertheless seems to appreciate that there are much to do on the extant constitution and that a minor amendment might not address most the

Speaker the the House of Representatives, Aminu Tambuwal

ALMOST ALL STAKEHOLDERS BELIEVE THAT THE MAJOR CONSTITUTIONAL AMENDMENTS THAT THE PEOPLE WANT HAVE NOT BEEN ADDRESSED problems with it. The senate therefore expanded the scope of the amendment by agreeing to look into 17 areas that require amendment. The areas were furnished via the memoranda on constitutional amendment received from members of the public. The memoranda were invited through advertisement published by the lawmakers on Wednesday, May 9, 2012. The Senate, on November 15, 2012, also commenced a two-day public hearing on the amendment of the constitution in each of the six geo-political zones which were reportedly well-attended. The 17- areas earmarked by the Senate for possible amendment are: evolution of Powers, Creation of more States, Recognition of the six Geopolitical Zones in the Constitution, Role for Traditional Rulers, Local Government,

Taking out the following from the Constitution: (a).Land use Act (b). NYSC Act (c). Code of Conduct; Fiscal Federalism; Amendment of Provisions relating to the Amendment of the Constitution; State Creation and Boundary Adjustment to remove ambiguities, Immunity Clause, Nigeria Police, Judiciary, Executive, Rotation of Executive Offices among Senatorial Districts of a State, Gender and Special group, Mayoral Status for the Federal Capital Territory Administration, Residency and Indigene Provisions, and “any other matter that will promote good governance and will improve the Nigerian State, but which requires amendment to the provisions of the 1999 Constitution”. Out of all these identified areas for constitutional amendment, the most talked about and controversial one is the issue of fiscal federalism. While many people believe that issues like state police, creation of more states, immunity clause, rotational presidency etc, are important enough if they are reformed, a majority of stakeholders including lawyers, politicians and civil society groups insist that unless the issue of fiscal federalism is properly reviewed, no real amendment could be said to have taken place and other forms of amendment would be a partial, insignificant address of the problems. Fiscal federalism involves the questions of CONTINUED ON PAGE 44

Law & Justice

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Zoning of judicial appointments The new High Court of Lagos State (Civil Procedure) Rules, which became operative on December 31, 2012, makes it mandatory for a plaintiff to seek preliminary settlement for ADR before approaching court for redress. What is your view on this development? The idea of Alternative Dispute Resolution (ADR) is very good in the sense that it shows the good intention of those who make the law; the good intention is to weed out from the court those cases that are not too contentious and ought not to be allowed to bog down the court. So to that extend it is a very good idea, it is going to be like every other kind of pre-Action Notice.

Festus Keyamo, a Lagos-based human rights lawyer, is reputed for his social criticisms, public interest litigation and employment of law as an instrument of social engineering. In a recent interview with KENNY ODUNUKAN, the popular lawyer spoke on a number of law-related issues. Excerpts

Can you shed a little light on the relationship between the said ADR and what you call Pre Action Notice? What is meant by Pre action notice in law means that before you go to court, you must give notice to the other side, you must give some kind of arrangement in which both side can attempt to settle the matter before the matter get to court, ADR is like pre Action Notice, like a clearing house before the matter gets to court. So, to that extend it is very commendable, except that I have not look at the contents of the law, a situation where there are cases of extreme emergencies of the law, what it means you have to get an injunction to stop an act that is about to happen, I have to study the law before I can do a full critic of that law. What can you say about various allegation of corruption in the Judiciary particularly especially in recent times when all sorts of allegation fly about against judicial officers and senior lawyers? There is corruption in the judiciary; anybody that does not admit it does not mean well for this country, because that is an undeniable fact. The only way to solve our problems is to confront our problems headlong and not to try to avoid those problems. Now, the only thing that is debatable is the scale of corruption, how widespread is the corruption? what is the level of corruption in the judiciary, that is debatable but to say there is no corruption will be a lie, and now what needs to be done will involves all of us who are stakeholders in the administration of justice; and that include we who are lawyers, judges and even litigants. We all must put hands on desk to make sure that we rid the judiciary of corruption. How will you suggest we go about doing this? To answer the question of â&#x20AC;&#x153;how do we do this? I will say let us first of all, as lawyers, refrain from the unethical practices of giving bribes to the judges. Let not get involved in this kind of shameful such act. To say the least, the practice lowers our credibility, integrity and dignity before the Judge, The Judge handling the case will not have any respect for you as a lawyer. It diminishes the image of the counsel; corruption also diminishes the image of the Bench and also in eyes of

Keyamo

THERE IS CORRUPTION IN THE JUDICIARY; ANYBODY THAT DOES NOT ADMIT IT DOES NOT MEAN WELL FOR THIS COUNTRY, BECAUSE

THAT IS AN UNDENIABLE FACT the society. The second point is that we as primary stakeholders should endeavour to always report every case of corruption we hear. Once we have credible evidence about any shady affairs, we should report to the rightful agencies so that such appropriate measure would be taken. Even at the point when the allegation is not favorable to us, we will mean well for this country by reporting it to the appropriate agencies .In that way, we would be doing our dear country a great favour. Our prisons are still congested with

hordes of Awaiting Trials. How do you think this is affecting administration of Justice in Nigeria? There are two or three main reasons why the prisons are congested. Let us start from the beginning when the police are involved in the arraignment .First of all, the police have arraigned so many people in court that should not have been arraigned in court. Some of them appear in courts because they cannot give bribes to the police. I have seen cases where police arrived at a public scene, arrested people around the vicinity and asked them for N5, 000 each and those who cannot provide are charge for ridiculous allegations. Those people may be people who wandered into Lagos and do not have anybody to stand for them in case the issue of bail is raised. They would be remanded in prisons as awaiting trials for unfounded offences or no offences at all that is why the prisons are congested and criminal justice system in the country is very slow. The rule of procedure is very slow to the extent that the rule allows all kind of stages in the trial and there is no way an alleged criminal goes through these pro-

cesses and will not take some time. All these definitely slow down administration of justice. Another problem is that the courts are bogged down by so many kinds of cases. The Judges are overwhelmed with too many work and cases on their desk so much so that an adjournment sometimes takes 2 to 3 months in a criminal trial and you would find out the suspects are taken back to prison custody and yet at the next adjourned date, the court would not sit because there is no light or something else, then there would be adjournment again! So these are the problems we are currently facing in the country which are impeding smooth administration of justice; and that is the reasons why there are so many awaiting trials and the prisons are congested. There is agitation in some quarters that the powers of the Chief Justice of Nigeria as the Chairman of the Nigeria Judicial council (NJC) are too much and that the powers should be whittled down. Do you support this view? Well, people are making this agitation on certain projections. There are reasons

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Monday, January 14, 2013

robs us of quality –Keyamo for these projections. This is because they fell the office of the CJN is about to be abused. But if you look at it very well there is even no way that you can say that the Chief Justice of Nigeria should not have a certain amount power allotted to him. An attempt to exclude the role of the CJN in the administration of NJC and thus the recommendation of removing or reducing his or her powers being made by certain officials is not the best option. The truth is that he is the Chief Justice of Nigeria. The CJN plays a very prominent role in the justice system. He is the head of the Judiciary. People forget to realise that the Chief Justice of Nigeria is not subordinate to the President; the Senate President is also not subordinate to the President. That is the position of the law irrespective of what the people believe. But many people tend to have different mentality. They think that the President is number one. In fact this issue of number one citizen is wrong because the three Heads of each of the three arms of government are primus inter pares. The three offices are on equal basis. They administered different arms of government and each of their functions is very important. Now If I may ask, who sworen-in the president? You see, it is the Chief Justice, who swore-in in the Chief Justice? You also can see it is the President. You can see that the powers are the same. So, you would not subscribe to the views that the powers of CJN should be removed? Do you call for the reduction o the powers of the President? Each of the heads of the Executive, Legislative and Judiciary organs are important and performs strategic duties. It is like telling the president now that he should not oversee a certain arm of the executives. Which of the executive sections should be taken from the duties of the president? He is the Head of the Executive and oversees everything in the executive parlance. So also the Chief Justice of Nigeria should oversees everything happening within the judiciary arm of government. The Senate president should also have the powers to overseers what is happening in the legislative arm of government. It is when you have a system like this that you can guard against the abuse of government in any democratic setting. Just like the President may abuse his powers, anybody heading an institution can also abuse power. But, just like the president is subject to be impeached if he violates the constitutional law, every other arm of government should subject to the rule of law in order to checkmate the abuse of power by its respective leader. The truth is that every power can be abused. You don’t need to have enormous powers before it can be abused even if you’re left with one power; it can be abused. All kind of powers are subject to abuse. The NJC’s recommendation that Justice Salami should be reinstated is yet to be implemented by the Federal government, what is your view on this?

other hand, you now say oh yes it should be retained people will say ok you are trying to curry favour because you have not be given. No comment that you make will convince anybody about SANship. No comment you make can be taken seriously. That is why I don’t want to comment on it.

I don’t want to comment so much on that, I don’t want to comment on Justice Salami’s issues for nowToo much politics have crept into the Justice Salami/ Katsina-Alu saga matter and I repeat too much politics particularly has happened on both sides. Recently, Justice Olubunmi Oyewole of Lagos High Court was also denied Court of Appeal appointment. Will you ascribe this also to politics? If you remove the politics from the matter, Justice Oyewole is one of the most qualified persons that should be appointed to the Court of Appeal. He has a bright prospect on the bench. The sky is his limit. The politics is unfortunate and it is also one of the things we have to look at. One of it is the appointment and elevation of Judges to the Court of Appeal. The problem is not only on the bench, it occurs in all aspects of the legal profession and also in all aspects of our national life where competence and capability are sacrifice on the altar of zoning; where hard work and merit are sacrificed on the altar of ethnicity. The zoning issue is robbing us of quality materials. You know, the issue of whether Oyewole should be appointed from Lagos state or Osun state and so on. I think we need to overhaul the entire system again particularly the conditions of appointing and elevating judges to the Court of Appeal. We should not forget that the judicial sector is a sector that delivers justice so we are looking for the most honest and competent person. It is just like you are sick, will you ever say that last week I was cured by Yoruba doctor, this week it must be an

TOO MUCH POLITICS HAS CREPT INTO THE

JUSTICE SALAMI/ KATSINA-ALU SAGA MATTER AND I REPEAT TOO MUCH POLITICS PARTICULARLY HAS HAPPENED ON BOTH SIDES”

Igbo doctor so that people will not accuse you of employing the service of only a Yoruba doctor, will you say that? No! Because it is a matter of life and death. But the Judiciary is also a matter of life and death. It is the judiciary that ensure the rule of law. So we are looking for the best hands, they should remove the issue of zoning and tribal considerations in respect of appointment and elevation of judges to the higher Bench. That is my point. Like I said I don’t want to go into the complexity of justice Oyewole’s matter but one thing I know is that Justice Oyewole is overqualified for appointment even to the highest court As a human right lawyer, do you think the award of Senior Advocate of Nigeria (SAN) should be scrapped? I don’t want to comment on that. The truth is that when you are not a Senior Advocate of Nigeria and comment on this, people may think it is because you have not been given. Some people will think that those comments are rubbish and there is nothing wrong with it. If on the

As a Lawyer to Economic and Financial crime commission (EFCC) on many alleged corruption cases, what is your assessment of the nation’s anti- graft agencies? Well, given its limited resources and the state of corruption in the country, I think we should just view it in relation to other institutions it has to cooperate with to carry out its statutory functions. I am sure you must have read all kind of Court orders and injunctions stopping the EFCC from doing what it should do in terms of fighting corruption. They also have problem of funding and the rate of petitions that flood the EFCC office every day. We are taking that deals with all local government areas in the country. We are talking of the 36 states of the federation; we are talking about a situation where almost everybody is corrupt. So these problems are overwhelming. Then how many lawyers can they engage in services in the light of their limited resources. How many cases in court can they tackle? These are the problems and then the slow nature of the judiciary process constitutes another hindrance to smooth efficiency of the anti-graft institution. There are cases of five years and even older ones still pending in court. These are the background against which we must appreciate the efforts of the commission. There are so many cases for them to handle. So, by and large, one can confidently say the EFCC has done well. it is not to the expectation of the public, it is not to the how far it should have done in terms level of corruption in the country, It might not have met to peoples’ standard but in the context of their limited resources and the factors that militate against the system, then, the commission has really tried. Let me tell you another thing people say. They talk about EFCC getting enough conviction or not enough convictions. Getting conviction! But to be honest do you think it is the the duty of the EFCC to convict, of course, it is not! When they arraign someone in court, they follow it, they are always there, and any time you sit in court EFCC’s lawyers are there, witnesses are ready. At that point, it is only the fool or the ignorant ones that will say that the EFCC are incompetent, that they are not doing very well. It is not their job to convict people, when at any point in time somebody is always there trying to prosecute an alleged criminal. Then the accused persons come up with all kind of orders, injunctions and tactics to stall the trials. and yet the court must still hear them, so it is only those who want to be mischievous that will attack the agency unnecessarily. So like I said and I repeat the performance may not be up to what the public expects but within their limited resources, they have done well.

Law & Justice

Adetola-Kazeem

Monday, January 14, 2013

Agbakoba

National Mirror www.nationalmirroronline.net

Abdul-Rasheed

‘We had true federalism before 1966, not today’ CONTINUED FROM PAGE 41 how the revenues available to the federation account are allocated among the components of the federal system, that is the federal, states and local governments. It also involves how the resources that belong to the states and local governments are distributed among the 36 states and the 774 local governments in the country in consonance with some agreed formula. A former President of the Nigerian Bar Association, Mr. Olisa Agbakoba, who is a well-known advocate of “true federalism” has proposed that the constitution should be amended to ensure more powers are devolved to state governments. He sponsored a bill for the amendment of the Constitution called “An Act to Alter the Constitution of the Federal Republic of Nigeria, 1999”. According to him, the Federal government should only wield limited powers and responsibilities. Some of the areas in which the former NBA boss recommended that the federating states should also have legislative competence include, health, education, agriculture, commerce and industry, transportation, prisons and police, housing and property development, land administration and management, including the mining of the minerals. In appreciation of the cogency of fiscal federalism phenomenon, National Mirror sought the views of some prominent lawyers. In his view, Prof. Itse Sagay (SAN) , said “The first thing is to increase the derivation principle and percentage from 13, which it is now, to 50 which it was when we agreed as various societies and nations to come together. That is what we agreed on and that is what you would find in the 1960 Constitution, we must go back to that. What is happening now is an imposition by a few who feel too lazy to work for their own existence and want to live on the resources of others. “The result of that is that these states that want to live on other states resources have become unproductive and there is no development in those states because what they want is free handouts from other people’s resources” “They have lost the work ethics; they have lost the productive drive and all they care about is free resources they have not worked for. “This laziness is destroying this country as it is turning us into unproductive society while other countries that do not even have oil and gas is doing very well. Singapore and South Korea, for instance, do not have oil and they are developing almost to the level of first world countries.” Expressing a similar view, a vibrant and outspoken social critic and Senior Advocate of Nigeria, Chief Mike Ozekhome, said “Under a good federal system, there should be total and complete resource control by the regions. Formerly, each region controlled 50 per cent of its natural resources, 25 per cent was paid to the Federal Government while the remaining 25 per cent are shared by the states. Thus, a state producing the resources which had already got 50 per cent would get additional

percentage from the shared 25 per cent. Today, you want the people of the South-South to dance egbabonalimi dance or mpokiti and atilogwu dance for being given 13 per cent of their own natural resources. The various Premiers of Nigeria used in the first republic to develop their respective regions. It is resources of the Western Region that the late sage, the brilliant and mercurial Chief Obafemi Awolowo used to develop the South West. He gave the Yoruba people free education at all levels. “This made an average Yoruba man today, whether you like it or not, the most enlightened human being in Nigeria. This was due to the foresight of one man. It is the resource control that enabled Awolowo to build Cocoa House, Liberty Stadium, Ibadan, University of Ife in 1962, now named after him. With money of cocoa, he was able to build the first television station in Africa. “Do you know that it was the resource control of cotton and groundnuts pyramids that the great Sardauna of Sokoto, Ahmadu Bello was able to build the Northern Nigeria Development Corporation (NDDC) the Durbar Hotel, the Hamdala Hotel, the Ahmadu Bello University, Zaria? Do you not know that it was the resource control of palm oil which people like Akanu Ibiam, Azikiwe and Dr. Mike Okpara used to develop the Eastern Region? We had true federalism before 1966, but what we are having today is a unitary form of government. Today people are fighting not even for the resource control again but only for equitable shares of their natural resources. In the South-South there is destruction of agrarian and aquatic life, their water is not even fit to drink. Where is justice in that? These are some of things causing the problem of the country.” Another Senior Advocate of Nigeria, Mr. Gani-AdetolaKazeem, gave his opinion thus, “The truth is that we are not practising serious federalism. What we have akins to unitary government and this derives from our military past. In the First Republic, we had three regions which later became four; each was autonomous and was able to function. Revenues were largely shared on the basis of derivation. These regional governments made contributions to the centre. That is federalism par excellence. Right now, we have 36 states, all what these states are concerned about are just sharing of revenue, which is largely money derived from oil. Most of the states are not viable without the federal allocations they collect monthly. “That is not federalism. A state that has no means of generating income cannot form a unit of federal l system. Right now, most of the states are even too weak to be autonomous. We have structural imbalance in our federal system.” A constitutional lawyer, former National Publicity Secretary of the Nigerian Bar Association and current member of the Osun State Judicial Service Commission, Mr. Murtala Abdul-Rasheed, advocated a rearrangement of powers dynamics between the states and federal government. He said “Under both 1960 and

TRUE FEDERALISM MAKES AN AVERAGE YORUBA MAN TODAY, WHETHER YOU LIKE IT OR NOT,

THE MOST ENLIGHTENED HUMAN

NIGERIA. THIS WAS DUE TO THE FORESIGHT OF CHIEF OBAFEMI AWOLOWO BEING IN

1963 constitutional, more powers certainly resided with the federating regions. Each of the regions was able to develop with its own pace and there was healthy rivalry. The subsequent constitutions have concentrated powers at the central level and this has made the federation lopsided. I want a situation where there would be more powers to the states in consonance with true tenets of federalism. As there is ongoing process to amend the 1999 Constitution, I would look forward to amendment that would redress the observed defects in the structure of our nation. Accordingly, the powers of the Federal Government as contained in the exclusive legislative list should be drastically whittled down. Under the present constitution the FG has exclusive control and powers over an overwhelming total number of 68 items not to talk of those areas it shares concurrent legislative powers with the federating states. The areas of the Federal Government’s exclusive competence should be limited to armed forces, , customs, railways, prisons and international trade and commerce etc. We need to make the powers more balanced by the transfer of some of these legislative powers to the state, unless this is done our so-called federation would continue to look like a unitary government, and given our diversity, this is counter-productive. A Lagos-based lawyer and human rights activist, Mr. Sola Olawunmi, said “I want a change made to the constitution to allow states significant incomes from their respective resources. They should only remit an agreed percentage into the federal coffers. If this is done, it will make the states to develop at their own rate. “Today we complain that there are a lot of money and ipso facto, powers, with the Federal government. It is at the Federal level that you would see the greatest profligacy. You would see a bogus number of ministers, personal aides, personal assistants, special advisers etc. What is more, you would see a lot of ministries and parastatals that are not contributing anything meaningful to the national economy. If the states are made richer through appropriate fiscal federalism, it will mean funds are being deployed to where they are needed for development and will reduce profligacy on the part of the Federal Government.”

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Law & Justice

Monday, January 14, 2013

Justice Eso

FRA Williams

G.O.K. Ajayi

How Supreme Court restored FRA Williams’ damages against Daily Times Twenty-three years ago, the Supreme Court of Nigeria delivered a judgement that brought to an end an epic legal battle that pitched two legends, Chief Rotimi Williams against Chief G.O.K Ajayi in a suit of defamation instituted by Williams against the erstwhile Daily Times of Nigeria Ltd. The Assistant Head of the Judiciary Desk, KAYODE KETEFE, reports how this case, with many turns and twists, had different outcomes, at the High Court, the Court of Appeal and the Supreme Court.

n 1980, the late legal luminary, Chief F.R.A. Williams, S.A.N. filed a suit at the Lagos High Court, against the Daily Times of Nigeria Ltd which, in addition to other titles in its stable then, also published “Evening News”. The contention of Williams was that he had been libeled in the Evening News edition of Monday 19, November 19, 1979. The libel he complained against was that the newspaper reported that he had been sued by some children of one of his clients for misplacing or withholding their father’s Will. The banner headline of the Newspaper on its first page of the said date read in very bold capital letters-“F.R.A. WILLIAMS SUED FOR N5m” and this was followed, in less bold letters by the words “Tussle over the Will of a father” The picture of the Williams was also in the publication. The alleged offending publication by the Evening News which was also pleaded in court, read in part, “One of the country’s legal luminaries, Chief Rotimi Williams, (popularly known as F.R.A. Williams), has been sued for N5 million by the children of a deceased client. Thirteen children of late Michael Oredolapo Onayemi, (nine of them infants) are claiming the amount from Chief Williams for “losing or otherwise failing to make available the February 1978 Will of the deceased.” “The children are also asking that Chief Williams be ordered to “surrender to the court the true last Will of the deceased made in February 1978 now in his custody” Williams claimed that this publication by the DTN was a calculated attempt to injure his reputation. But before he instituted the suit, the legal icon wrote a letter to the publisher demanding apology. Instead of offering any apology as demanded DTN, wrote back through

FAMOUS CASES its in-house lawyer, Mr. Eke Oduba. The said DTN’s letter read in part “Dear Sir, Your letter Ref. No. FRAW/pca dated 19th November, 1979 has just been passed to the Legal Department by the addressee, the editor of Evening Times. We have instantly started to investigate the circumstances leading to the publication. “It is only after obtaining some result that we can properly advise the editor in terms of the specific stipulations contained in your letter. We hope you will offer us co-operation by exercising patience. You will be hearing again from us” No other communication was forwarded and no apology was offered, conversely DTN made two additional publications which Williams still considered not only malicious but an aggravation of the existing defamation. The two new publications were made in the Evening Times of March 1st 1980 which had the headline “Court Awards N100. Rotimi to pay costs” and the Evening Times of March 14th 1980 which had the headline “Case put off as Rotimi stay away” both publications also featured the

pictures of the legal luminary. Chief Williams then brought the suit and claimed the sum of N250, 000 as exemplary damages. He also claimed in the alternative the sum of N100, 000 as aggravated damages for libel in the event that the exemplary damages were not awarded. At the trial court, the defendant put up a plea of privilege which was rejected by the presiding judge, Beckley, J. on the grounds that what was published was not a report of the proceedings that took place in open court but was of the writ of summons which was published by the newspaper even before that writ was served on the plaintiff. The trial judge consequently found the defendant liable in libel. The court however did not impose exemplary damages but it awarded aggravated damages of N100.000 in favour of Chief Williams. Dissatisfied, DTN filed an appeal at the Court of Appeal, urging the appellate court to reduce the amount imposed against it as damages. The Court of Appeal in unanimous judgment read by Justice Adenekan Ademola held that “It has not been established by the appellant in his argument that the learned judge proceeded on wrong principle in the award of damages. “What was taken into consideration which ought not to be taken into consideration were the two other publications of the same paper about the respondent which have not been proved to be false and had been said by the learned judge to have been done to ridicule the respondent. “The inference to ridicule the respondent by the publications should not be readily and necessarily be drawn. “I think an award of say N60.000 at the time the judgment was given would in my view be adequate compensation to the respondent.” The two other justices of the Court of Appeal Nnaemeka-Agu, J.C.A. (as he then was) and Owolabi Kolawole, J.C.A. gave concurring judgments and also agreed that the damages of N100,000 awarded be reduced to N60,000 Thus, the appellate court reduced the award of N100, 000 given at the trial court to N60, 000. Chief Williams was dissatisfied by this judgment and he further appealed to the Supreme Court praying the apex court to

THE INTENTION OF THE NEWSPAPER IN THIS PARTICULAR CASE WAS NOT TO INFORM THE PUBLIC BUT TO RIDICULE THE PLAINTIFF restore the damages of N100, 000. On January 9, 1990, the Supreme Court, in a judgment delivered by late Justice Kayode Eso, faulted the Court of Appeal decision and restored the original N100, 000 damages awarded in favour of Chief Williams against DTN by the trial judge. Giving its reason, the Supreme Court stated as follows: “Stating that a legal luminary has lost or otherwise failed to make available a Will is injurious to reputation. “I agree with Ademola, J.C.A., that the inference to ridicule the plaintiff should not readily be drawn. But in this case I cannot see it otherwise. The inference is clear and the learned trial Judge was right in his conclusion of a defendant who did not even apologise but instead repeated the libel. “The second publication seems to be more serious. It was made on March 14, 1980. It came with a banner headline in very bold letters- “Case put off as Rotimi stays away” “The reason for the absence from the court was given by Chief Williams’ lawyer, Mr. Makanju, as not disrespect to the court but “rather that his absence is (sic) due to unavoidable circumstances-the plaintiff was off to Enugu Court of Appeal.” “Now, the body of the Report is hardly compatible with the screaming headline which suggests a deliberate staying away for no good reasons. “On the whole then, the appeal is allowed. The amount of damages awarded by the High Court of Lagos State (Beckley, J.) is hereby restored. The judgment and order of the Court of Appeal reducing that award is set aside. Costs already awarded by that court stand. Costs of N500.00 is awarded to the appellant (the plaintiff) being costs in this court”.

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

Community Mirror “It is high time Yorubas protect the symbols of their cultural heritage. ” OSUN STATE GOVERNOR, RAUF AREGEBESOLA

Man docked for shaving wife’s pubic hair ADEOLU ADEYEMO OSOGBO

n Osogbo Magistrate’s Court has arraigned a middle aged man, Oriyomi Adepoju for allegedly shaving the pubic hair of his wife, Nafisat without her consent. The accused, said to be in possession of several pubic hairs when police searched his room in the course of investigations, was accused of shaving his wife’s pubic hair while she

was sleeping. The Prosecutor, Sergeant Tajudeen, told the court that the accused person conducted himself in a manner likely to cause breach of peace when the police attempted to arrest him at his residence on Ibokun road, Osogbo, the Osun State capital.

Sergeant Tajudeen said the accused person had, through his action, committed an offence contrary to and punishable under section 219 (D) of the criminal code, cap. 34, vol.II laws of Osun State and presented to the court the pubic hairs of some women found in the room of the

accused person. Adepoju, who was charged for breach of public peace and indecent assault, however, pleaded not guilty as he told the court that part of the hairs were that of his former wife, whom he had divorced and those of his present wife.

Traditional ruler disowns children

Police arrest 19 year old kidnap suspect

CHRIS NEWMAN PORT HARCOURT

he Rivers State Police Command has arrested Miss joy Akudo Ahaiwe , a 19 year old girl for allegedly kidnapping a 4-month-old baby boy in Ulakwo 11, Etche Local Government Area of Rivers State Miss Ahaiwe , a secondary school leaver and native of Umualika in Eberi Omumu LGA had, on September 2012, on the pretence of being a bornagain, absconded with little Master Bright Okechukwu, son of Pastor Rowland Okechukwu during a Sunday church service. After a search, the incident was reported to the Okehi Police headquarters whose officers mounted an extensive manhunt for the suspect, owing to the fact that some church members alleged to have seen her taking the baby from the nanny. Ikechukwu Agbaragam ,the Igbodo Etche clan vigilante chairman told Community Mirror, that the suspect was later arrested following a tip –off by her former boyfriend. The parents of the kidnapped baby, Pastor and Mrs. Rowland Okechukwu, said the suspect has confessed to the crime and also agreed to take them to Warri, Delta State, were she kept the baby in custody of her former boyfriend.

“The love I have for my wife prompted me to perpetrate the act. I shaved the hair in order to make her sexually active, as I do not enjoy making love with plenty hair on her private part, and I don’t want her to sleep with another man.” The presiding magistrate, Mrs H.O Basiru granted the accused person bail in the sum of N100,000 with two sureties in like sum.

Igwe of Aguleri, Eze Christopher Idigo IV, dancing during the Ofala festival in Aguleri, Anambra State recently.

LG converts toilets to offices DANJUMA WILLIAMS GOMBE

ollowing the shortage of office accommodation at its secretariat, the Akko Local Government Council in Gombe State has converted some of its conveniences to offices for staff. Chairman of the council, Alhaji Adamu Jani Bello, revealed this during a the visit of Governor Ibrahim Hassan Dankwambo’s to Akko Central State Constituency. He said the council is submitting a proposal for the construction of a wing of the local government secretariat in order to address the current shortage of

office accommodation, which necessitated the conversion of some toilets to offices. The Chairman appealed to the governor to provide the council with adequate office furniture and equipment to create a more conducive working environment for optimal performance of staff. At Akko West State Constituency, the people reminded the governor of the persisting lack of potable water in the area, as they currently get their drinking water from ponds. According to the member representing the constituency, Hon. Danazumi Adamu, the governor should urgently consider the extension of the

greater Gombe South multibillion naira water project to the area to save the people from rampant diseases associated with poor and unhygienic water. Other requests included the construction of roads to transport agricultural produce, electricity, health facilities, primary and secondary schools and the upgrading of others and creation of employment opportunities for the youths. Responding, Governor Ibrahim Hassan Dankwambo, promised to work with chairman of the council, SUBEB, MDG’s and other stakeholders to tackle the problems.

he traditional ruler of Rumuoghalu community in Ikwerre Local Government Area of Rivers State, Chief Isreal Okwu- Amadi , has disowned five of his children for setting his palace ablaze in November, 2012 . Amadi, told Community Mirror that he decided to disown them for masterminding the arson that nearly caused him his life. Furthermore, he said the state police command has arrested three of the children, while two of them are still at large. Chief Amadi, who has six wives, said that some of his children demanded he soldsome of his land at the New Greater Port Harcourt city in Rumuoghalu, which he declined, as they later colluded to set his palace ablaze in order to eliminate him. He also said he has written to the police disowning the children for causing the loss of properties which includes valuable documents.

Amaechi

National Mirror www.nationalmirroronline.net

Monday, January 14, 2013

South East

CHARLES OKEKE AWKA

he Anambra State governor, Peter Obi, has prayed to God to give the state a governor that will perform better than him as he leaves office early next year. Obi said that as his tenure gradually comes to an end, he had increased his prayers to God to give Anambra State someone who would supersede his performance for the continued development of the state. The governor said that he shuddered whenever he remembered what Anambra State used to be before

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

2014: Obi prays for good successor

his ascension to power, adding that nobody that loved the state would wish a return to that barbaric past. Obi’s prayer for Anambra State to have a better governor after his exit from office was made yesterday at the Eucharistic service to mark the Annual Armed Forces Remembrance Day celebration at the Cathedral Church of St Faith, Awka. He charged Nigerians to make necessary contributions that would enhance the growth and survival of the country, while calling

on Nigerians to place the collective interest of the country above other considerations. Commending the sacrifices and selfless services of the heroes who fought to ensure survival of the country, Obi also stressed the need for leaders to take difficult decisions that will help build a better society even when those decisions

are unpopular. The governor said that Anambra State is now well repositioned to meet its various obligations to the people and expressed satisfaction that the return of schools to the Church is yielding the desired result with outstanding performances of students in internal and external examinations. In a sermon, the Angli-

can Bishop of Awka, Rt. Rev. Dr. Alexander Ibeziem, noted that God used Obi to lay solid foundation for functional and qualitative education in the state. Bishop Ibeziem called for prayers to attract divine healing to the country to erase the scars of the civil war and its sad memories. Warning of the dangers of turning away from God,

Bishop Ibezim noted that closer relationship with God is fundamental for the survival of the country, even as he urged Nigerians to avoid divisive tendencies to enable the country harness strength in unity and harmonious co-existence, so that efforts of those who laboured for the unity of the country would not be in vain.

Youths petition gov over illegal sales of Ezinano land CHARLES O KEKE AWKA

wka youths, under the aegis of Ezinano Land Owners, over the weekend cried out to the Anambra State governor, Peter Obi, urging him to investigate the alleged racketeering of their land by government officials, groups and individuals. The distress cry of the youths to Obi was made during the demonstration they staged in Awka last weekend, to sensitise the public on their plight. Ezinano land owners drawn from seven villages of Awka have been accusing key government officials and agencies, as well as some individuals and groups, of illegal acquisition and sale of their lands, particularly, the Ezinano land. Speaking during the protest at the Arroma Square, Awka last Saturday, the leader of the youths, Obi Ochije, said they are giving the government 14 days within which to examine their grievances and stop the land racketeers from continuing their contentious act. Ochije said: “We are calling on Governor Obi to hear our cries, our children have nowhere to live, we urge the governor to please look in to the land crisis, let him tell them to keep off Ezinano land, let him tell ministry officials to keep off from

Ezinano land.” Ochije, who alleged that some speculators have sold their lands worth hundreds of millions of Naira, also called on the state Commissioner for Lands to use his good offices and inquire into the shady deals being committed on Ezinano land. Another key Ezinano leader, Kanayo Obidigbo also addressed the restive youths during the protest. He alleged that Ezinano land is now being forcefully acquired and sold to individuals for profit making, leaving the customary owners landless and nowhere to live. His words: “They are parcelling our land and selling them to private people and companies at the price of about N6 million per plot.” The protesters, bore placards with varying inscriptions like: “Aguimo Nwokili land is not for sale, buying of any parcel of land therein is at the buyers’ risk”; “Be warned against land speculators, this land belongs to four quarters, take note, do not trespass, you are warned, refuse any overtures by speculators.” Meanwhile, as the youths await government’s response to their complaint, the suit which they filed against trespassers on their land comes up today for continuation of hearing at the Awka High Court.

L-R: Wife of Anambra State Governor, Margaret; Governor Peter Obi; Anglican Bishop of Awka, Most Rev. Alex Ibeziem and his wife, Martha, after the service to commemorate the 2013 Armed Forces Remembrance Day in Awka, yesterday.

PDP lied about Chime’s health status, says group

he Save Enugu Group (SEG) has dismissed claims by the state chairman of the People Democratic Party (PDP), Vita Abba that the governor, Sullivan Chime, who has been incommunicado for months would soon return to his duty post, saying that the statement was meant to mislead the people. A statement issued by Chief Willy Ezugwu for the SEG also appealled to traditional rulers in the state to constructively intervene in the situation, noting that the group’s resolve to ‘Occupy Lion Building’ would

greatly benefit from the support of the traditional institution. Ezugwu urged Abba and the state PDP to limit their brainwashing attempt to their party members, as the citizens of the state, who are bearing the brunt of the governor’s absence know the truth. The statement reads: “We said it earlier in our letter to the Acting Governor that all reports of sighting or near sighting of Governor Chime turned out to be hoaxes. We thus wonder what will make Abba’s latest claim any different from

the previous ruses that the people of the state have been treated to. If the PDP in Enugu and its chairman have achieved anything, it is to have successfully proven to the people that they are behind the series of hoax and misinformation that all is well, while the state is on autopilot.” Noting that “Abba has proven to be a lightweight even within the PDP and has no inside knowledge about the governor’s circumstances,” the SEG said that he must allow the Enugu State Executive Council to reply it or allow the state

House of Assembly to act in accordance with the constitution. Ezugwu said: “If he is as influential as he wants to make people believe, we challenge him to use his clout to influence the Assembly members to do that which is right.” The group urged the people of the state, including leaders of thought, to interrogate its position with a view to better understanding it, pointing out that all the steps it was taking in this matter remain within the purview of the constitution.

We are under threat from NESREA –Aluminium firm MD DENNIS AGBO ENUGU

he Managing Director of Alo Aluminium smelting, Alex Anis has alleged that the National Environmental Standards and Regulation Enforcement Agency (NESREA) is threatening to sabotage the establishment of a multimillion naira company that presently employs over 100 workers and would

employ more when it commences operation. Ani made this allegation, while briefing National Mirror on events leading to the closure of the factory that is still under construction. He said that in 2010, when the company embarked on the project that would produce raw materials for aluminium companies, it did the required Environmental Impact Assessment (EIA) with the Enugu State

Ministry of Environment through an accredited consultant but that years after, NESREA came to Enugu and is demanding for another round of EIA which he said amounts to double taxation and is not obtainable elsewhere. But the Enugu State Coordinator of NESREA, Ralph Nnam, who was responsible for sealing up the factory at Emene Industrial layout, however said that

what NESREA is demanding for is an Environmental Impact Statement, which he claimed is issued to every company that complies with the EIA. A director in the state Ministry of Environment however said that NESREA does not have the mandate it is exercising, stating that once the state ministry has approved EIA, NESREA is not supposed to intimidate a client into double taxation.

National Mirror www.nationalmirroronline.net

South South

Monday, January 14, 2013

Peace, key to sustainable development –Amaechi R ivers State Governor and Chairman of the Nigeria Governors’ Forum, Chibuike Rotimi Amaechi, has said that peace is a necessary ingredient for sustainable development in any society. He said for any society to develop there must be the prevalence of enduring peace, which he said will serve as castalyst for such development. The governor was speaking in Minna, where he was conferred with the Eminent Ambassador of Peace Honorary Award by the Governing Council of the Abdulsalami Abubakar Institute for Peace and Sustainable Development Studies. The award, which was also conferred on the governors of Benue, Imo and Niger States, was for their laudable achievements in the sustenance of peaceful co-existence in the country. Speaking as the guest speaker at the first graduation ceremony and graduation lecture of the institute on Saturday, Governor Amaechi congratulated the initiator of the institute, Abdulsalami Abubakar,

for setting up the citadel of learning towards sustaining peace and unity in the country. Amaechi observed that any society without peace, would not experience sustainable development, calling on Nigerians to give peace a chance in the current democratic dispensation and allow the dividends of democracy to impact positively on the lives of the people. “I congratulate Abdulsalami Ababukar for setting up this peace institute, but you must know that where there is no peace, no development will strive, peace is a complex issue, it is ideological, we must not deny our citizens their legitimate rights, by this way, peace comes in and we begin to experience sustainable development,” Amaechi said. Amaechi also spoke on the need for equitable distribution of the nation’s resources which he said would engender peace in the states of the federation if properly utilised to improve the welfare of the citizens to address the problem of poverty. “Our resources must ex-

‘Amnesty Office must hasten ex-militants’ integration’ EMMA GBEMUDU YENAGOA

he Presidential Amnesty Office has been urged to hasten the integration of former militants in the Niger Delta billed for mobilisation into the programme at Obubra camp in Cross River State. A former militant leader in Bayelsa State, Keithy Sese alias Gen. Nomukeme, said this yesterday in an interview with National Mirror, saying that the Presidential Amnesty Office headed by Kingsley Kuku, had early last month promised that the programme will take-off this January, which was yet to see the light of the day. President Goodluck Jonathan last year approved the integration of 3, 642 exmilitants into the amnesty training programme, but some reformed militant leaders in the region said the number of beneficiaries was too small. His words: “The latest of such unrealistic statement

was in early December 2012, when Hon. Kingsley Kuku made a public statement indicating that exmilitants would undergo and conclude non-violence transformational training at Obubra in 31 days time. “The 31 days period was suppose to be the third week of January. We are yet to be mobilised for Obubra training, talkless of concluding the training programme.” According to Sese, this was not the first time the Amnesty Office was making such empty promise. The ex-militant leader regretted that this was his third year of post-disarmament without any benefit from the Federal Government. He continued: “The integration of the last set of ex-militants into the programme was expected to lead to an improvement of relative peace and security in the region. “Government on its own should provide modern security equipment to its personnel to combat crime to ensure peace in the area.”

perience equitable distribution, living standard in the country is very poor, when you hear about militancy and Boko Haram, it is essentially the problem of poverty, we must demand from our leadership, an accountable stewardship”, he said. Speaking further, Amaechi said the need for more productive economy, respect for human dignity, special fund for education

in the north that will be jointly and transparently managed, all inclusive participation in governance and the need for the people to elect leaders of their choice in a free and fair electoral process, as well as promotion of educational advancement in the country. “We need more productive economy, a special fund for education in the north

that will be jointly managed, consultative in governance and for the people to elect leaders of their choice in a free and fair election and promotion of education”, Amaechi said. Governor Amaechi, while recalling the nation’s historical antecedents on transition from military to civilian rule, urged elites in the country to always advise leaders to provide the

basic amenities and infrastructures including power, health, water and others to improve the living standard of Nigerians generally for peace to prevail. In his remarks, initiator and Chairman of the institute, Abdulsalami Abubakar, urged Nigerians to support the objectives of the institution to achieve the needed peace in the country.

Rivers State Governor, Chibuike Rotimi Amaechi (2nd left), his wife Judith; President of the Nigerian Football Federation (NFF), Aminu Maigari and the Chairman of NFF Technical Committee, Chris Green, during the inspection of new ultra-modern stadium being built by his administration in Port Harcourt, yesterday.

Bayelsa govt accused of diverting N2bn flood relief materials EMMA GBEMUDU YENAGOA

he Bayelsa State government has been accused of diverting relief materials meant for flood victims in the state to politicians, civil servants, government functionaries and various other groups. Investigation by National Mirror revealed that the sharing of the relief materials packed in some stores

in Yenagoa, was done without the consent and awareness of the Post-Flood Management Implementation Committee. The over 30, 000 flood victims chased out of the relief camps in Yenagoa, are yet to receive the materials donated by individuals and corporate organisations. Investigation showed that though government promised to distribute the relief materials to the flood

victims in the affected communities, but the reverse has been the case. Just last week, the governor’s wife, Mrs. Rachael Dickson, distributed relief materials such as bags of rice, mattresses and blankets to political associates and women groups in the state. Her action has raised eyebrows among concerned citizens in the oilrich state. The situation did not go down well with members of the post-flood committee

headed by Chief Francis Doukpola, as some of them are threatening to resign their appointment. Incidentally, Doukpola, who replaced the former Chairman of the committee, the late Gen. Owoye Azazi, is yet to be inaugurated by Governor Dickson. The October 2012 flood affected all the eight local government areas in the state as government shut down all its institutions owing to the magnitude of the flood.

Oshiomhole defends Loye’s appointment as perm sec SEBASTINE EBHUOMHAN BENIN

do State Governor, Adams Oshiomhole, has replied those criticising his appointment of Major Lawrence Loye (retired) as the Permanent Secretary of the Ministry of Environment. It will be recalled that the appointment of Loye last week as a replacement for the retired permanent secretary of the ministry,

Mr. Hyacinth Ikheloa, was latched upon by some residents, including members of the civil society. They accused the governor of breaching the law with the appointment of a man who they said was not a civil servant into a position reserved for career civil servants. Responding to the allegation through his Special Adviser on Media and Public Affairs, Prince Kassim Afegbua, Oshiomhole de-

Oshiomhole

fended the appointment of Loye, saying that if was in consonance with the provisions of the Constitution of the Federal Republic, part of which empowers the

state governor to appoint people into positions including that of permanent secretary. “However, such appointee may have to leave office when the governor is leaving office at the end of his second term as the case may be.” Afegbua argued that Loye’s appointment was not the first time a person outside the civil service would be appointed into such position.

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

World News “A weak Palestinian Authority cannot be an effective player if you are all the time preoccupied with making ends meet” - PALESTINIAN PRIME MINISTER, SALAM FAYYAD

WORLD BULLETIN

PAUL ARHEWE

Egyptian court orders retrial for Mubarak after appeal

WITH AGENCY REPORTS

n effort to halt advancing militant Islamist forces has resulted in “many deaths” in northern Mali, a military spokesman said -- with the fatalities including Malian soldiers, insurgents and a French pilot killed in a helicopter raid. Mali is being joined by France -- its former colonial ruler, which recently sent troops there -- as it tries to beat back advances by forces linked to al Qaeda. Much action recently has focused in and around the key northern city of Konna, which insurgents took on Thursday only to retreat the following day after a combined air and ground assault. “There were many deaths on both sides, both rebels and government soldiers,” Malian defense ministry spokesman Lt. Col. Diara Kone said Saturday of the fighting in the northern part of the country. The government, in a statement read on state TV, said 11 of its soldiers died and about 60 were wounded in the battle for Konna. The French pilot died while taking part Friday afternoon in an aerial operation targeting a terrorist group moving on the town of Mopti, near Konna, French Defense Minister Jean-Yves Le Drian said. The aerial offensive -- which includes strikes by French fighter jets -- continued through Friday night and into Saturday, the minister added. Prominent Islamist leader Abdel Krim - nicknamed “Kojak” - is reported to have been killed in the strikes. “Every means was used in

French soldiers of the 21st Marine Infantry Regiment boarding a plane to Bamako, at the N’Djamena’s airport, in Chad, on Friday. Photo: AP

French pilot, 11 killed as battle for Northern Mali rages fighting the Islamists, including two attack helicopters. They sent the Islamists fleeing,” Kone told CNN. “This shows that the Malian army is capable to fight.” French President Francois Hollande also cheered after “a blow was delivered and heavy losses were inflicted,” which he credited in part to the efforts of his nation’s troops. “But our mission is not over,” he said Saturday. The Islamist forces’ movement in recent days from their strongholds in the deserts of northern Mali prompted France to help address what Le Drian called a “serious” and deteriorating situation, even as France has resisted efforts to get involved in curbing other rebellions in such former colonies as the Central African Republic.

Mali’s interim President Dioncounda Traore declared a state of emergency nationwide Friday and called for “a general mobilization” to defend against the radical Islamists’ advance. “Terrorist groups want to destabilize the country,” the French minister said. “We are determined to prevent them doing so, within the strict framework of international law.” The first British military plane destined to assist the French operation in Mali has left for the first stage of its mission, Sky sources say. The RAF C17 is stopping off in Paris first to load before a 10-hour flight to the West African country and will not arrive there before today, the sources added. It comes after Downing Street

confirmed the Prime Minister had agreed to provide “logistical military assistance” to the French. David Cameron spoke to Francois Hollande on Saturday evening as France attempted to contain al Qaeda-linked rebels in the north of the West African country. A 600-strong multi-national West African force, authorised by the UN Security Council to help the Mali government reclaim control of the north of the country, is also on its way to the capital Bamako. It will be commanded by General Shehu Abdulkadir of Nigeria. In addition, Burkina Faso, Niger, Senegal and Togo have all pledged around 500 troops this weekend, while Benin has said it will send 300 soldiers.

Another bus gang rape jolts India

n an incident eerily similar to a sexual assault that sent shock waves worldwide, Indian police say a woman was gang-raped over the weekend by seven men after she boarded a bus at night. Police arrested six suspects, including the bus driver, after the alleged Friday night attack in Gurdaspur district in Punjab. A manhunt for the other man was under way yesterday. Just like a gang rape in New Delhi that sparked international outrage last month, the new attack occurred after the woman

Indian police with six men accused of a gang rape in India’s Punjab state Photo: CNN got on a bus. The bus sped past her stop, police said. By that time, the

woman was the only passenger. The bus driver and his helper then took the married 29-year-

old woman to an undisclosed address where five others joined the two men and raped her throughout the night, police said. “They threatened me with a sharp edged weapon and did wrong things with me,” the victim told CNN’s sister station, CNN-IBN. “They kept me confined all through the night and forced me to do what they want.” The next day, the suspects dropped her off at her village, where she informed her family and alerted police, according to authorities.

A court in Egypt has ordered a retrial for ex-President Hosni Mubarak after accepting an appeal against his life sentence over the deaths of protesters. Mubarak, 84, was overthrown in 2011 after mass street protests in the capital Cairo and other cities, and jailed in June. Ex-Interior Minister Habib al-Adly will also be retried on the same charge. Mubarak, who remains in custody, will also be retried on corruption charges for which he was acquitted in June. He led Egypt for almost 30 years, surviving six assassination attempts, before the revolt against his rule. Mohammed Morsi of the Muslim Brotherhood was elected president in June. Judge Ahmed Ali Abdel Rahman announced: “The court has ruled to accept the appeal filed by the defendants... and orders a retrial.”

French commando killed in Somali hostage raid A raid to free a French intelligence agent held captive in Somalia for three years went horribly wrong, leaving 17 Islamists and at least one French commando dead in a mudcaked farming town deep in militant territory. In the chaotic aftermath of the firefight, the hostage’s fate was unclear Saturday. The Islamists denied French claims that he was killed and said they had a new prisoner — a wounded French soldier. The botched rescue in East Africa came the same day French airstrikes in the West African nation of Mali targeted resurgent rebel Islamists. French officials said the two operations were unrelated, but stepped up domestic counter-terror measures to protect public places and transportation networks.

UN Chief commends ECOWAS for women empowerment

The Under-Secretary General and Executive Director, UN Women, Madam Michelle Bachelet, has commended ECOWAS for its role as a driving force for gender equality and women’s empowerment in West Africa. Speaking at a meeting in Abuja on last Thursday with officials of the ECOWAS Commission led by its President, His Excellency Kadré Désiré Ouédraogo, Madam Bachelet, Chile’s former President, also commended ECOWAS for recognizing the importance of women’s participation in peace-building, including in its Conflict Prevention Framework.

National Mirror www.nationalmirroronline.net

North

Monday, January 14, 2013

Chad Basin Authority promises 19,000 jobs in Borno INUSA NDAHI MAIDUGURI

he South Chad Irrigation Scheme (SCIP) at Marte in Borno State has disclosed plans to cultivate 10,000 hectares of farmlands and create 19,000 jobs for youths this year. The Managing Director of Chad Basin Development Authority, CBDA, Dr. Abubakar Garba Iliya, who disclosed this, said it would be done under the state agricultural transformation programme. Iliya said 5,000 hectares

of irrigated farmlands were already being cultivated for the production of wheat, onion, rice and other vegetables. The MD spoke at the weekend while briefing Governor Kashim Shettima on the “technical and input” requirements of SCIP to create more job opportunities for farmers and communities in the Lake Chad Basin area. Iliya said with the cultivation of 5, 000 hectares, under the irrigation scheme, 19,000 jobs were already created, as farmers and unemployed youths in the 12

council areas of the Chad Basin area, including Jere and Maiduguri Metropolitan Council, MMC, were fully engaged with farming activities. He said: “This irrigation scheme, Your Excellency; has not only addressed our unemployment and poverty problems, but has equally enhanced the economic status of many communities living in the Chad Basin area.” The MD said to achieve the target of cultivating 10,000, the CBDA required 10 units of combined harvesters and 20 tractors.

Speaking on the 10, 00-hectare targeted for the creation of more jobs, he said: “The CBDA operates participatory irrigation scheme with the communities and at the end of harvesting the various crops, 40 per cent goes to them; while the remaining goes to the authority.” Responding, Shettima said that posterity would judge harshly leaders who were given the responsibility to represent the electorate. He, however, promised that everything possible would be done to provide the much needed farm

machinery and inputs to CBDA, so as to create more jobs and wealth among farmers and the unemployed youths. Satisfied with activities of CBDA, the governor also commended the authority for complementing effort of his administration in the agricultural sector. Shettima added that the 10-hectare target of the authority would be achieved by June this year. He said: “The bumper harvest recorded by the CBDA last year through its collaborative efforts of the state government, community and other organisations was a credit to not only the state, but the au-

thority.” The governor gave an assurance that the partnership would be sustained in addressing poverty and unemployment problems in the state. He said the 20 tractors and combined harvesters requested by the authority; would be procured and delivered by government before the end of June. The Chairman of the Cooperative Farmers Association in Marte Local Government Area, Baba Isa Lawan, also thanked the governor for restoring the lost glory of their occupation (farming) which had been in the limbo for over two decades.

Kano police command recorded 1,580 criminal cases in 2012 AUGUSTINE MADU-WEST KANO

P L-R: Public Relations Oficer, Soba Development Association (SDA), Alhaji Dayyabu Yusuf; SDA Chairman, Dr. Haliru Musa, and his deputy, Abdul Soba, at a conference on alleged certificate forgery by the newly elected Chairman of Soba Local Government, in Kaduna, yesterday.

New varsity’ll boost Zamfara’s development –Ex-PDP scribe A ZA MSUE KADUNA

ormer Secretary of the Zamfara State chapter of the Peoples Democratic Party, PDP, Alhaji Musa Zubairu, has applauded Federal Government’s decision to establish a federal university in Gusau, the state capital. Zubairu said the new university, which had already been commended by the generality of the peo-

ple, would boost the socioeconomic development of the state. Addressing a press conference in Kaduna at the weekend, Zubairu noted that the relegation of Zamfara State in the educational sector had been a matter of regret and serious concern among the people who regarded it as a major impediment to progress and development. He added that establishment of a federal university in the state was a

significant gesture from the President Goodluck Jonathan administration towards meeting the aspirations of the people. The former PDP secretary expressed the hope that other aspects of the relegation of Zamfara State, especially in federal appointments, location of major federal projects as well as the allocation of federal intervention funds to address challenges facing the state would also be redressed by Jonathan

administration’s transformation agenda. Zubairu, who was Chief of Staff to the immediate past governor of Zamfara State, described the worsening plight of the local lead miners in the state in particular and the inadequate federal involvement in the development of the huge solid minerals deposits across the state, as “worrying issues demanding urgent and bold response from the Federal Government.”

olice in Kano State said at the weekend that they recorded 1,580 criminal cases and 2,097 traffic cases, in 2012. A statistics released by the Kano State Police Command said 62 suspects were prosecuted, while two kidnap victims were rescued. Despite terrorists’ attacks, which dominated over 70 per cent of the year under review, the police arrested 217 armed robbery and violent crime suspects, killed 21 robbery suspects, and recovered 29 abandoned vehicles. The command also charged 108 suspects for culpable homicide and impounded 1,123 Improvised Explosive Devices, IEDs, while its Anti Bomb Disposal Unit recovered and detonated 68 IEDs within the same period. Also in the year under review, the command prosecuted 2,097 people for various traffic offences and arrested 827 drivers for

driving vehicles with tinted glasses without permit. The command also recorded remarkable achievements in crime prevention, detection, investigation, prosecution and enforcement of law and order. In a statement signed by the state Public Relations Officer, ASP Magaji Musa Majiya, on behalf of the Commissioner of Police, Ibrahim Idris, the command expressed its appreciation to all religious leaders and other citizens of the state for their individual and collective prayers offered at mosques and churches which, to a large extent, helped in achieving the successes within the year under review. The statement reads in part: “Our traditional institutions at ward, district levels and the Kano Emirate Council must be commended for the cooperation, support and assistance they have been rendering to this command at all the times.”

N17m scam: EFCC arraigns Kaduna deputy speaker today Katsina lifts ailing journalist with N500,000 OLUFEMI ADEOSUN ABUJA

he Economic and Financial Crimes Commission, EFCC, has concluded plans to charge the Deputy Speaker, Kaduna State House of Assembly, Hon. Mato Dary Dogara, to court over his roles in a N17 million fraud. The commission’s spokesman, Mr. Wilson Uwujaren, said in a state-

ment that the deputy speaker would be arraigned today at the Federal High Court, Kaduna. Other suspects to be arraigned alongside Dogara are former Chairman of Lere Local Government Area of the state, Kabiru Tahir Malali, and former Treasurer of the council, Ahmed Yahaya. They are expected to face criminal charges based on a six-count charge bordering on contract over invoic-

ing and criminal diversion of funds. Dogara is also a former chairman of Lere Local Government and had also served as a commissioner in the state.

EFCC Chairman, Ibrahim Lamorde

JAMES DANJUMA KATSINA

veteran journalist, Jare Ilelaboye, 65, has received N500,000 lifeline from the Katsina State Government to enable him attend to his failing health. Ilelaboye, who had worked with several newspapers, including the defunct Concord, ThisDay and Daily Champion, had suddenly taken ill early

last year. He was said to have collapsed in his room at the Correspondents’ Chapel Lodge in the state and was rushed to the hospital where doctors diagnosed him with paralysis-related and other conditions. He was discharged after his condition slightly improved at the time and was taken to his private house in Barnawa, Kaduna State. The Katsina State Gov-

ernment, however, decided to assist Ilelaboye with the money after members of the Correspondents’ Chapel implored government to come to his aid. Handing over the money to Ilelaboye at the weekend, the Senior Special Adviser to the governor on Press Affairs, Lawal Matazu, said the state decided to assist Ilelaboye in view of his contributions to the general development of the state.

News

Monday, January 14, 2013

ALGON warns N’Assembly over LG autonomy TORDUE SALEM ABUJA

he Association of Local Governments of Nigeria (ALGON) has called on both chambers of the National Assembly to place the autonomy of local councils on the front burner in the ongoing review of the 1999 Constitution. ALGON National President, Mr. Ozo Nwabueze Okafor, who made the call in Abuja at the weekend through a press statement, said the key components of Vision 20-20-20 and the SURE-P all require the support of local governments for them to be realised. According to him, the

local government councils would only play their roles more effectively with financial and administrative autonomy. “We wish to advise that in exercising our rights of freedom of autonomy, we should not lose sight of the need to place national interest above personal/group considerations. “This is because, if we must grow our country in the right order, namely from bottom to top, we should be mindful of the vital role of local government and resist the temptation to undermine the current constitutional amendment exercise through endless arguments and postulations,” he said.

‘Steel development frustrated by Western powers’ OMEIZA AJAYI

ewly-appointed Sole Administrator and Chief Executive Officer of the National Iron Ore Mining Company (NIOMCO) Limited, Itakpe, Kogi State, Engineer Abubakar Yaro Ibrahim, has attributed the dwindling fortunes of Nigeria’s steel industry to some powerful Western interests, who he said are determined to frustrate the development of the industry in the country. Speaking to journalists during a tour of the facility, Ibrahim said the lack of understanding and patriotism by some Nigerians has made them easy tools for use by the industrialised

nations, whose policies are tailored towards keeping Nigeria perpetually and economically subservient to them. “There is therefore every need for the nation to be adequately educated so that this industry, upon which the future of our dear nation depends, could be salvaged from the clutches of the world powers, bent on rendering us a perpetually dependent nation,” Ibrahim said. According to Ibrahim, his mandate is to put “in place effective management structure, supervision of plant rehabilitation work and using human and material resources available to the company to engage the staffers in productive endeavours.”

N78m fraud allegation: Bayelsa DPP clears Speaker, others

he Bayelsa State ministry of justice, at the weekend, urged the Commissioner of Police, Special Fraud Unit, FCID, Lagos, to drop the case against the Speaker of Bayelsa State House of Assembly, Hon. Konbowei Benson Friday, members and the Clerk of the House, in connection with their trip to South Africa for the 43rd regional conference of the Commonwealth Parliamentary Association (CPA). This was contained in a statement signed by the

Special Assistant on Media and Public Affairs to the Speaker, Mr. Piriye Kiyaramo. According to the statement, the ministry, through the Office of the Director of Public Prosecution, DPP, Mr. A. N Apokuma, in a four page letter, addressed to the FCID dated January 9, 2013, stated that; “From the circumstances of the case, it is my opinion that a prima facie case has not been made against the Speaker, members and Clerk of the Bayelsa State House of Assembly.”

National Mirror www.nationalmirroronline.net

PDP secretary’s post: Oyinlola to appeal judgement today

• I’m not interested in the job – Oni OLAJIDE OMOJOLOMOJU AND EMMANUEL ONANI

ndications have emerged that the sacked National Secretary of the Peoples Democratic Party, PDP, Prince Olagunsoye Oyinlola, will file a notice of appeal at the Abuja Division of the Court of Appeal today. National Mirror gathered from one of the lawyers who appeared for the appellants at the Federal High Court, Abuja that the former Osun State governor’s legal team

used the weekend to prepare the appeal. Justice Abdul Kafarati of an Abuja federal high court had on Friday, January 11, removed Oyinlola from office as the scribe of the ruling party. The presiding judge’s decision was consequent upon an originating summon brought by the duo of Chief Adebayo Dayo and Alhaji Semiu Sodipo, who prayed the court for an order nullifying the candidacy of Oyinlola as national secretary. A certified true copy of the judgement exclusively obtained by our correspon-

dent showed that Justice Kafarati granted six orders, with the order four reading thus: “That an order is hereby granted removing the first defendant from the office of National Secretary of the second defendant.” Order five also directed that the South-West zonal congress of the PDP should hold “within 21 days of the order of the court.” Meanwhile, contrary to media reports that the PDP National Vice-Chairman (South-West), Chief Segun Oni was being touted to replace Oyinlola, Oni has said that he was not interested in

being PDP National Secretary and that the position is not vacant. The rebuttal by Oni was contained in a statement signed by his Press Secretary, Lere Olayinka. Oni said that the SouthWest PDP remained solidly in support of Oyinlola, adding that “last Friday’s judgement had already been appealed against and a stay of execution filed.” He described the media report insinuating that the PDP was considering dropping Oyinlola for another candidate from the South-West as part of the mischief of those whose ambition was to destroy the party in the zone.

L-R: Ogun State Commissioner of Police, Mr. Ikemefuna Okoye and Governor Ibikunle Amosun, during the on-the-spot assessment of the fire incident due to vandalism of NNPC pipeline at Arepo in ogun yesterday. PHOTO: NAN

Confusion in Ede Poly over rector’s appointment MOJEED ALABI

ll seems not well with the Federal Polytechnic, Ede, Osun State, as two rectors may resume office today, claiming legality of their actions. The position of the polytechnic’s rector had been vacant following the expiration of the tenure of office of the immediate past Rector of the institution, Dr. Joseph Oke. After a screening exercise, the National Board for Technical Education, NBTE, had shortlisted three applicants including the former Deputy Rector and now Acting Rector, Dr. Olukayode Adebile. The others shortlisted are; Mr. Patrick Hussein

and Dr. Comfort Ogunlade, both of the polytechnic. However, Hussein, with the least qualification of a Masters Degree Certificate, was said to be warming up to resume office today claiming he has been duly appointed by the Federal Ministry of Education with a letter of confirmation said to take effect December 29, 2012. The purported letter must have informed the press releases issued last week by the polytechnic’s Public Relations Officer, Mr. Kazeem Oyedeji and signed by the Registrar, Mr. Oladele Ogunleye, announcing the resumption of the new rector, Mr. Patrick Hussein. Meanwhile, the Acting Rector, Adebile, has denied knowledge of any memo or directive from the ministry

asking him to vacate office as the acting helmsman in the 20-year-old institution. In an interview with National Mirror, Adebile, claimed ignorance of the announcement made by the institution last week and insisted that the status quo ante shall remains until order comes from the appropriate quarters and not from a cocontender for the office. When contacted, the institution’s public relations officer declined comment on the matter, claiming he has not been authorised to make any statement. “I do not have the power to comment on the matter but we may have to wait till tomorrow or next week before we can be categorical about the development. So as the situation stands now I cannot speak,” the PRO said.

Similarly, the registrar would not want to make any comment but asked our correspondent to call back later. He said the coast was not clear enough to guarantee any authorised statement. Meanwhile, members of the polytechnic’s community are already insinuating foul play, claiming that the whole game was played out by the immediate past rector “to cover his dirty deals” while in office. Some of the lecturers, who did not want their names mentioned, claimed that no criterion justifies the appointment of Hussein, who they said is the least qualified among the contenders. They also played the ethnic card by saying that being from Kogi State, he is less qualified to be the rector in the South-West.

Monday, January 14, 2013

Zambia not under pressure to defend title

National Mirror www.nationalmirroronline.net

Sport

The days ahead will be enough to further our preparation for the Nations Cup and I remain confident –Super Eagles’ coach, Stephen Keshi

Chukwu predicts Eagles’ success AUGUSTINE MADU-W WEST KANO

ormer Green Eagles’ captain, Christian Chukwu, has predicted a successful outing for the Super Eagles in the forthcoming Africa Cup of Nations, but declined to say how far the country would go in the tournament. The Heartland FC of Owerri Technical Director, who spoke at a reception organised by Kano businessman and chairman of amateur club, Nordy Football Club, Chief Nnodi Atuchukwu, at the Nordy Meridian Hotel, Kano for the Super Four participants, said that he was satisfied with Coach Stephen Keshi’s team list. Chukwu expressed optimism that the Eagles would go far in the championship and pleaded with Nigerians to pray for the team to lift the trophy and make the country proud once again, “We have to give the coach a chance; he knows the expectations of Nigerians and knows he cannot afford to fail them. Even if you do not like his list of players, he has made the list and nobody can change that because he believes in the boys he has selected to produce the desired result,” Chukwu said. “What we need to do is to pray for him and give him all the support he needs to succeed,

Nigeria doesn’t impress me –Renard

x Super Eagles’ striker, Ahmed Musa (left) showing off his new hairstyle to Coach Stephen Keshi in Faro camp on Saturday.

I am optimistic that the team we have now can qualify us from our zone, after that, let’s see how it goes. From what I have seen, my mind tells me we will go far in the competition with this team, even though football is not what you can predict the

which side victory will swing to. “You can see the last Nations Cup, nobody believed that Zambia would defeat Cote d’Ivoire in the final; that is football for you. ” Nnodi in his speech, said his

love for football informed his gesture to host the Super Four players and officials, which included Kano Pillars; Heartland, Rangers of Enugu and Lobi Stars of Makurdi, adding that his amateur club will soon be revived to compete for trophies.

ambia coach, Herve Renard, has slammed AFCON group rival, Nigeria, saying the current Super Eagles do not impress him. Defending champion Zambia takes on Nigeria on January 25 in Nelspruit and Renard has been quick to say he has not been impressed with the Eagles under Stephen Keshi after he watched them labour to a 0-0 draw with Cape Verde last Wednesday. “I think you saw Nigeria the other day against Cape Verde. Do you think it was the best this time? I don’t think so,” Renard said. The two sides are set for an early Africa Cup of Nations showdown in their penultimate Group C match on January 25 at the Mbombela Stadium in Nelspruit. And Renard reiterated that he was also itching for payback time against the Eagles after the latter ejected them in the 2010 quarterfinals. “So on January 25 against Nigeria, it will be a different game, it will be a tough game,” the Frenchman said. “But I can assure you we want to finish top of our group like in 2010 and 2012. It’s not easy, but we want go as far as possible because this team has fantastic team spirit.”

...Mba sees surprises coming IKENWA NNABUOGOR

uper Eagles’ midfielder, Sunday Mba, has said that the team will do well at the 2013 Nations Cup which kicks of f in South Africa on Saturday. The Enugu Rangers player, who is one of the six localbased players named in the 23man squad released last week and is one of the 16 Nations Cup first timers, believes the Eagles will continue their fine for m when they open their campaign against Burkina Faso on January 21. Mba came on for Nosa Igiebor in the friendly game against Dutch club Sparta Rot-

terdam on Saturday as Eagles recorded a 1-0 victory in the build-up to South Africa. Mba praised Eagles’ Coach Stephen Keshi for giving him the opportunity to prove himself at the AFCON 2013. “This is the biggest thing to happen to my career and I’m so happy to be in the team,” the for mer Golden Eaglets captain told National Mir ror yesterday. “I have no doubt in my mind about the team because we have done everything we needed to do to be in top shape. The build-ups, the qualifying games have been done in the best atmosphere and every player is in good shape and we will only need the support of Nigerians to finish the good job, Sunday.” Mba (right) contesting for the ball with a Liberian player in a qualifying match.

Sport

Monday, January 14, 2013

National Mirror www.nationalmirroronline.net

AFCON ticket sales rise

Zambia’s coach, Herve Renard (right) and his Chipolopolo players in Cloud Nine after winning the last Nations Cup in Libreville, Gabon.

Zambia not under pressure to defend title

EVEREST ONYEWUCHI

verything is working out fine for Zambia as the Chipolopolo get set to defend the Unity Cup they won at the last Africa Cup of Nations jointly hosted by Gabon and Equatorial Guinea. Making their 15th appearance in the AFCON last year, the former Kenneth Kaunda ‘KK 11’ team, under French coach, Herve Renard, beat the Elephants of Cote d’Ivoire 8-7 (pen) after 120 minutes of football failed to produce a winner. Another long shootout of penalties ensured that the Chipolopolo are in South Africa to defend their title. They had earlier in 1996 picked their third bronze medal in Nelson Mandela’s country. In their qualification match, they defeated the Cranes of Uganda 9-8 (pen) in Kampala, after the Cranes cancelled 1-0 deficit they suffered in the first leg played in Lusaka. Zambia first competed in the AFCON finals in the 1974 edition held in Egypt, and surprisingly won the silver medal, losing to the DR Congo 2-0 in a replay inside the Cairo International Stadium on March 14, 1974. The first final had ended 2-2 even after extra time, thus, necessitating the replay ordered by the Confederation of African Football (CAF). Twenty years after winning silver medal, Zambia got to the final again at the Tunisia 94, losing to a complete Super Eagles of Nigeria team, rated 5th globally by FIFA, 2-1 in an emotional final, which most people wished them to win. On their way to Tunisia, a generation of Zambian players was killed in an air crash on April 27, 1993 when their plane had accident on the coast of Gabon, flying to Dakar, Senegal for a World Cup qualifier. All 30 passengers on board the aircraft, in-

cluding 18 players and technical crew perished. Apart from these two silver, Zambia’s AFCON scorecard included three bronze medals won at Libya 82, Algiers 90 and South Africa 96 editions. After the 1996 third place finish, the Chipolopolo didn’t go beyond the group stage of subsequent finals until Angola 2010, they reached the quarter-finals and lost 5-4 (pen) to the Super Eagles, after goal-

less regulation and extra time. In the same group with Nigeria, Ethiopia and Burkina Faso, Zambia is not under pressure to defend its title. The challenge for the big names like Nigeria is to prove that Chipolopolo won Gabon/Equatorial Guinea 2012 by default because the Super Eagles, Pharaohs of Egypt and Indomitable Lions missed the finals. But again, Cameroun and Egypt are missing.

Renard keeps faith with winners

oach Herve Renard selected 19 of the players that won the 2012 edition in Gabon and Equatorial Guinea for this 29th AFCON campaign. Veteran defender Chintu Kampamba, who has been without a club since June, was left out of the final 23-man squad. Renard named his final squad after Zambia drew 0-0 with fellow finalist Morocco in a friendly in Johannesburg last week. That result halted a three-match losing streak for Chipolopolo. “Doing the preparations, we can see the players are not 100 percent yet. It’s my fourth Africa Cup. We’ll do our best. We’re not Ivory Coast, we’re not Ghana,” Renard said. He added, “Why do you think we come to the Africa Cup? To drop out in the first round? There are 13 days till our first game. We are better than three days ago and we will be better in three days.” On Saturday, the Chipolopolo played a goalless draw with Norway in their last warm-up game before opening their SA 2013 accounts with the Walya Antelopes of Ethiopia next Monday at the Mbombela Stadium in Nelspruit. ZAMBIA SQUAD: Goalkeeper: Daniel Munyau (Red Arrows), Kennedy Mweene (Free State Stars, South Africa), Joshua Titima (Power Dy-

namos) Defenders: Hichani Himoonde, Francis Kasonde (both TP Mazembe, DR Congo), Emmanuel Mbola (FC Porto, Portugal), Joseph Musonda (Lamontville Golden Arrows, South Africa), Davies Nkausu (SuperSport United, South Africa), Stopilla Sunzu (TP Mazembe, DR Congo) Midfielders: Isaac Chansa (Henan Construction, China), Noah Chivuta (Free State Stars, South Africa), Rainford Kalaba (TP Mazembe, DR Congo), Christopher Katongo (Henan Construction, China), Felix Katongo (Petro Atletico, Angola), Chisamba Lungu (Ural Sverdlovsk Oblast), Mukuka Mulenga (Power Dynamos), William Njobvu (Hapoel Beer Sheva, Israel), Nathan Sinkala (TP Mazembe, DR Congo) Forwards: James Chamanga (Dalian Shide, China), Emmanuel Mayuka (Southampton, England) Collins Mbesuma (Orlando Pirates, South Africa), Jacob Mulenga (FC Utrecht, Holland), Jonas Sakuwaha (Al Merreikh, Sudan) FACTFILE: Population: 14.3 million Federation: Football Association of Zambia (FAZ) President: Kalusha Bwalya Team: Chipolopolo Jersey: Orange on black shorts, with orange socks

he 29th edition of the Africa Cup of Nations South Africa 2013 is only five days away and public interest has soared leading to a total sellout of Category 1 and Category 2 tickets for the opening games on January 19. Group A double-header clash led by host South Africa and tournament debutant, Cape Verde Islands, followed by Angola and Morocco will set the mood of the tournament. The Categories 1 and 2 tickets represent the high end of tickets available to fans. To date 359 543 tickets have been sold or allocated, which represents about 42% of the total capacity of the stadia. CAF and the LOC remain optimistic that the numbers will continue to increase, with a specific focus made on matches of Group B in Port-Elisabeth and of Group D in Rustenburg, both having the lowest figures of tickets sold so far. “We are happy with this development because it shows a marked change in South African spectator behavior where usually the cheapest category tickets are sold out first,” said the LOC Chief Executive Officer, Mr. Mvuzo Mbebe. “This seems to suggest that with the week on its final stretch before the start of the biggest sporting showpiece in the continent Category 3 tickets will sell even faster than they have today as soon as we announce a comprehensive fan transport solution to and from the stadiums”. The LOC is still hoping to reach the ticket sales target of 500 000 by the start of the tournament in Johannesburg even if this will not be easy. But a relief to most fans is that it is now possible to buy and receive tickets immediately. Fans are spoilt for choice of the tickets they can purchase. For those fans who want to take advantage of the two packages that have on sale already to the public which have tantalizing discounts that range from a discount 10% to 15% until today 13 January.

Kalusha Bwalya

National Mirror www.nationalmirroronline.net

Sport

Monday, January 14, 2013

‘Oshitelu planned grand 70th birthday’ AFOLABI GAMBARI

he late sports journalist and politician, Deacon Ayo Oshitelu, who died on Wednesday night at his Isolo, Lagos home had looked forward to his 70th birthday this year with enthusiasm, according to a family source. The veteran journalist, who was also a former chairman of Ejigbo Local Council Development Area, passed on at 69. “He spoke so fervently of his 70th birthday due on April 6 which he described as a milestone in his sterling career,” the source told National Mirror yesterday. “He also pledged to devote the rest of his life to the development of tennis in Nigeria,

having spent a substantial part of his life to attract recognition for the sport both locally and internationally.” Asked to elaborate on the late administrator’s birthday, the source said: “I think there was going to be a seminar at which top

sports administrators in Nigeria would be in attendance. But the subject of discussion would be tennis and nothing more. “It will not be out of place for Nigerians to accord the late Reverend honour in respect of his contribution to

tennis in the country.” Late Oshitelu, who reported tennis for The Guardian till his death, famously served as the Master of Ceremony at the reception of Serena and Venus Williams when the sisters visited Lagos in November last year.

Ekhosuehi warned off Insurance SEBASTINE EBHUOMHAN BENIN CITY

he Secretary to the Government of Edo State, Prof. Julius Ihonvbere, has warned that Insurance Football Club belongs to the state government and not an individual as being speculated. According to Ihonvbere, the club’s board has since been dissolved along with others in

the state, thereby striping former chairman, Chief Igbinonmwanghia Ekhoesuhi, of his duties. “If all boards were dissolved, the Insurance board is also affected,” the SSG said. He however stressed that the club would be funded adequately to help it back to the Premier League. “Insurance has a lot of liabilities that we need to address as ur-

gently as possible so that we can free the club from encumbrances,” the SSG explained. On the poor welfare of Insurance players, Ihonvbere said: “We will look at the numeration of the players and officials. “We will continue to hope that the club can be revived to regain its past glory so that they can be a major factor in the Nigerian league again.”

WORLD RECORD

Largest sequin mosaic Vol. 03 No. 534

N150

Monday, January 14, 2013

The largest sequin mosaic measures 2 m x 3 m (6 ft 6 in x 9 ft 10 in) and consists of 300,000 sequins. It was created by 90 children of two elementary schools in Gyarmat (all Hungary), in an event organized by Stabilo Hungary in Gyarmat, Hungary, between 24 and 27 June 2009.

Reflection on privatization programme

ince the mid-90s, I have been fascinated by the subject of privatization, especially after coming across a publication of the defunct Concord Press of Nigeria. The book was a compilation of the reports of senior editors dispatched across the world to study the privatization programmes of other countries. On their return from the study trips that took them to Venezuela, Brazil, United Kingdom, Mexico, Poland, Singapore etc, they wrote comprehensive and seminal reports that were published in the daily and weekend editions of the newspaper, and later compiled into a book. Among these editors who contributed to this project were the late Chike Akabogu, Nnamdi Obasi, Tunji Bello, Rose Umoren, late Sunday Alabi, Mike Awoyinfa and Dele Alake. The decision by the editorial board and the publisher of the newspaper to send the senior editors round the world was informed by the

Guest Columnist

Abdul-Warees

Solanke

need to educate government policy makers and Nigerians on privatization as a tool of economic reform and New Public Management. Then, the world was just waking up to the reality of the anathema of Big Government and the necessity of running lean and nimble administration by transferring some aspects of public sector management to entrepreneurs. Buzz words like Public Private Partnership (PPP), Private Sector Providers (PSP), deregulation, liberalization, decentralization, divestment, commercialization and others associated with relieving government of total control, became common place. It was in the era the military government set up the Technical Committee on Privatization and Commercialization (TCPC). That was the committee that metamorphosed into the Bureau of Public Enterprises (BPE) at the turn of the century. As a journalist disenchanted with how most of our public enterprises were ran aground by their managers, I initially strongly supported the privatization and commercialization exercise. These enterprises were arenas of intrigues, platforms of political patronage and settlement and drain pipes for siphoning state resources. However, I was awoken to the sensitivity of privatization as a tool of economic reforms during my public policy graduate study programme in Brunei Darussalam when one of my lecturers cautioned on my blind support for privatization. Today, I see privatization as an abdication of some aspects of the fundamental objectives and directive principles of state policies, which is the protection of national interest and security. We should

WE SHOULD NOT THREAD THE PATH OF PRIVATIZATION WITH CLOSED EYES!

not thread the path of privatization with closed eyes! In countries where privatization was pursued successfully, the public sector was already developed and government needed to encourage the private sector to come into areas where its presence was no longer necessary or strategic. In our case, it is a tragedy that our public sector was not developed before the plundering of the public enterprises through pursuits of vested interests and political intrigues. Given our experience, we need reformed government and public sector management where the rule of law prevails and where corporate governance is entrenched. Privatization, particularly in sectors of vital and strategic importance, is not the first contemplation in searching for a solution to turn them around. In essence, privatization may be suitable for developed economies, but for a system as ours, our reform programme must first be anchored on value re-orientation with emphasis on the protection of national assets, integrity, transparency, accountability, equity and distributive justice. The absence of these indices and the prevalence of corruption and nepotism are responsible for the collapse of our public enterprises. This formed the basis for privatization preference. In my reflections, I drew some analogies

on privatization as a disappointment over a prized possession resulting in the syndrome of throwing away the crying baby with its foul bath water. Here is the first analogy: A landed property in a prime location where we intended to erect a structure, but now overgrow with weed. For the difficulty in clearing the land, we sell it a give-away price to the itinerant laborer with the axe. The second analogy: A once beautiful edifice, but now dilapidated and colorless from use and abuse. For want of a good make-over professional, we sell off the land to the next neighbor because we don’t have the patience to rehabilitate the house. And yet another: A landed property on which we intend building an enduring structure. Having mobilized the contractor to the tune of 45 percent of cost, we got disappointed with the pace and quality of work. In our frustration, we sold off the land and the uncompleted building at a give-away price! In being sensitive therefore, we must continuously ask, what must we privatize that we will not eventually sell the commonwealth called Nigeria to a few rich predators? What should we privatize and still retain the essence of government? Many anti-privatization or pro-powerful government in public sector administration and management argue that privatization is the new mercantilism. They say it is the empowerment of monopoly capitalism, a neo-colonial agenda to rip off the state. They predict that privatization is laying the foundation of a future cataclysm. The new empowered mercantilists, it is predicted, would soon grow bigger than the state and would eventually pocket it and the government. The beauty is that the Federal Government is very sensitive to issues of national interest and security. This is seen in government’s reversal of many of its policies, hearkening to the appeals from various stakeholders whose positions are also informed by national interest. Solanke,korewarith@yahoo.com, is Head, Voice of Nigeria Training School, Ikorodu, Lagos

Sport Extra

orld number three, Andy Murray, admits he usually enjoys taking on world number one Novak Djokovic, who he has faced 17 times on the main ATP Tour. The Serb has won 10 of their matches, including the last two, although the Scot ended

Tennis: Murray relishes Djokovic partnership his long wait for a Grand Slam singles title with a victory over his friend in the final of the US Open last September. The pair have met three times in Slams, with Djokovic winning the first two, both in Melbourne.

“I learnt a lot from last year’s semi-final. It was a very important match for me in the context of my year,” Murray said yesterday. “I got over that loss a lot quicker than I had some of

my previous Slam losses. I felt like I played well and there was something I could really take away from it. “Never in any matches have I had any problems with him, NFF President, Aminu Maigari Andy Murray or in practice.”

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