Monday, june 8, 2015 by GLOBAL MEDIA MIRROR LIMITED

JPMorgan may delist Nigeria from key bond index

THE

BUSINESS SECTION

Pulling Real Sector out of woods

â&#x20AC;Ś.extends 6-month to country because of new govt

Johnson Okanlawon WITH AGENCY REPORT

Nwankwo

PMorgan at the weekend hinted it will remove Nigeria from its Government Bond Index, GBI-EM, by the year-end unless the country restores

liquidity to currency markets in a way that allows foreign investors tracking the benchmark to transact busi-

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Free inside

Buhari woos G-7 over terrorism, power, others Vol. 5 N0. 1125

Monday, June 8, 2015

...as president presents Nigeria's wish list at Summit

Rotimi Fadeyi ABUJA

To meet Obama, Cameron P

resident Muhammadu Buhari is expected to meet with President

N150

Barack Obama of the United States and other world leaders at the G-7 Summit that began yesterday in Germany. A statement issued yesterday by Senior Special CONTINUED ON PAGE 2>>

NLC urges Buhari not to assent 46 bills passed by NASS P.5 ADVERT HOTLINES

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Aladetoyinbo emerges new Deji of Akure P.8

'Why Aero aircraft had emergency landing in Abuja' P.9

President Muhammadu Buhari (right) arriving Munich, Germany, for the G7 Summit, yesterday.

PDP, Mark back Saraki, Dogara for Senate President, Speaker Anti-Gbajabiamila Reps write presidency

APC reaches out to aggrieved members

Borno suicide bomber kills 2, injures 4

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News

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Buhari woos G7 over terrorism, power, others CONTINUED FROM PAGE 1

Assistant to the President on Media and Publicity, Garba Shehu, said Buhari was also expected to meet with President Francois Hollande of France, Prime Minister David Cameron of Britain, and other G-7 leaders in the course of the Outreach Session and a working lunch at Elmau Castle. He was accompanied on the trip by Governor Kashim Shettima of Borno State, former Lagos State Governor, Babatunde Fashola, Gen. A. Dambazau and Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Paul Lolo. Other invited Heads of State and international institutions that would join Buhari at the working session with G-7 leaders today at Elmau include President Jacob Zuma of South Africa, President Ellen Johnson Sirleaf of Liberia, President Macky Sall of Senegal, President Beji Caid Essebsi of Tunisia and Prime Minister Hailemariam Desalegn of Ethiopia. Prime Minister Haider Al-Abadi of Iraq, Secretary-General of the United Nations, Mr. Ban Ki Moon, Secretary-General of OECD, Mr. Angel Gurria, Managing Director of IMF, Mrs. Christine Largarde, President of World Bank Group, Dr. Jim Yong Kim, Director-General of International Labour Organistion, Mr. Guy Rider, Chairperson of African Union Commission, Mrs. Nkosazana Zuma and the Director-General of World Trade Organisation are also scheduled to participate in the Outreach Session with G-7 leaders. Meanwhile, President Buhari arrived Munich, Germany armed with the "wish list" of Nigeria in line with the demand of the Group of Seven, G7, industrialised countries. The G7 had earlier requested the then Presidentelect to prepare a shopping list and come with it for their consideration in what is seen as an excellent goodwill gesture towards the new leader and the country. The Senior Special Assistant (Media and Publicity) to the President, Garba Shehu, in a statement from

Munich said top on the list of the requests President Buhari will tender before the G7 leaders is on the problem of security. "We have a problem which they know," Buhari said. The President said he has used every opportu-

nity at his disposal ahead of this meeting to discuss Nigeria's needs with specific reference to terrorism and development needs at person-to-person meetings and phone conversations with some of these leaders. "These development

issues, many and varied as they are, touch on the economy, combating corruption, increased foreign direct investment, FDI; power and energy, infrastructure, environment, enhanced transparency in elections and good gover-

nance." He also said leaders of the industrialised nations have shown a preparedness to work with Nigeria to help the country out of its problems. President Buhari will hold meetings on the side-

lines with the host, German Chancellor Angela Merkel, the French President, Francois Hollande, Canadian Prime Minister Stephen Harper, the Japanese Prime Minister Shinzo Abe and World Bank President, Dr. Jim Yong Kim.

L-R: General Overseer, Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye; his wife, Pastor Folu Adeboye; Vice President, Prof. Yemi Osinbajo; his wife, Dolapo; Lagos State Governor Akinwunmi Ambode and his wife, Bolanle, during the 7th Excel of Apapa Family of RCCG (City of David) at Tafawa Balewa Square in Lagos, yesterday.

PDP, Mark back Saraki, Dogara for Senate President, Speaker Olajide Omojolomoju, Tordue Salem and A za Msue

enators-elect and House of Representatives members-elect on the platform of the opposition Peoples Democratic Party, PDP, under the leadership of outgoing Senate President, David Mark, have resolved to cast their votes for Senator Bukola Saraki, as Senate President and Hon Yakubu Dogara, as Speaker, tomorrow. If this decision is effected and it succeeds, it would have forced the ruling All Progressives Congress, APC, to taste the bitter pill the defunct Action Congress of Nigeria, ACN, forced down PDP’s throat in 2011. National Mirror authoritatively gathered in Kaduna yesterday that the decision of the former ruling party followed the outcome of APC’s mock election, which took place over the weekend where the party adopted Senator Ahmed Lawan and Hon. Femi Gbajabiamila as Senate President and House

Speaker, respectively. Many PDP House of Representatives members-elect confided in National Mirror that the APC mock election to pick principal officers of the National Assembly would never stand on the floor of the green and red chambers in tomorrow’s voting, as almost all of them have concluded arrangements to vote for Dogara for fairness, equity and independence of the House. It will be recalled that after the PDP emerged the majority party in both the upper and lower legislative chambers of the National Assembly in the aftermath of the 2011 election, the then ruling party zoned the Speakership of the House of Representatives to the South West zone, zeroing on Hon. Mulikat AkandeAdeola as the preferred candidate. The defunct ACN, under the leadership of former governor of Lagos State, Asiwaju Bola Ahmed Tinubu, mobilised opposition lawmakers to truncate the zoning arrangements of the PDP, leading to the

emergence of Aminu Tambuwal and Emeka Ihedioha as Speaker and Deputy Speaker respectively, a development many analysts said signaled the beginning of the end of cohesion in the PDP. Informed inside sources disclosed to National Mirror that to the PDP, it is now payback time, as it is poised to avenge the 2011 truncation of its plan by Tinubu. At a recent retreat for PDP lawmakers, Senator Mark was alleged to have told all PDP lawmakerselect to remain in the party, threatening that anyone who defects would most certainly lose his seat as the full wrath of the law will come to bear on such turn coat. He was said to have said that PDP has the numerical strength to determine what goes on in the National Assembly, hence the need for cohesion and unity of purpose among all its lawmakers. These were said to have informed the position of the PDP senators and House members to play the spoiler for the APC, if it insists on

foisting surrogates on the National Assembly. Another source told National Mirror that “we are going to vote a neutral person, who can carry all of us along. It happened during Tambuwal and Akande Adeola’s speakership race. “Both of them were PDP members, but when PDP took side against Tambuwal, some of us with the opposition voted for him, as he was an independent candidate against PDP’s anointed candidate. “The same thing is likely to happen this time around. If not properly managed by the APC, what happened during Tambuwal will repeat itself on Tuesday.” A returning PDP member of the House disclosed that Saraki would also enjoy the backing of PDP senators, including Mark. This was just as National Mirror gathered that all former governors who are now senators-elect or returning senators have decided to pitch their tent with their former colleague, Saraki, without regard for party affiliation.

National Mirror also gathered that there is disquiet among senators and House members from the South West, who are not comfortable with Tinubu’s overbearing meddlesomeness in National Assembly affairs. The grouse of this group centre on the Speaker coming also from Lagos, the same state that produced Vice President Yemi Osinbajo. They wondered whether Lagos is the only state in the South West, and as such must corner all major political appointments. As a result, there are indications that South West lawmakers may not vote for the party’s candidates tomorrow, especially as voting will be by secret ballot. The APC, after picking Lawan and Gbajabiamila, also picked the outgoing Senate Minority Leader, George Akume and Tahir Monguno as Deputy Senate President and Deputy Speaker respectively, in the election expected to come up tomorrow. CONTINUED ON PAGE 5>>

Franka Osakwe

or those who simply go to the store, purchase and wear new clothes without washing them, this latest study should be of interest to them. Researchers have discovered that many of such clothes contain residue chemicals such as synthetic dyes and formaldehyde resin, which could be responsible for rashes, itches, allergies and numerous ailments including cancer. The research also found new clothes often get contaminated with microbes mainly from people trying them on at the shops. According to the study published recently in Wall Street Journal, an anti-wrinkle chemical used to keep new clothes from wrinkling or becoming mildewed during shipping known as formaldehyde, has been linked to rashes and itches. Also, high levels of exposure to formaldehyde have been reported to cause certain type of cancer, according to The United States Environmental Protection Agency. The researchers conducted a test on new clothes in New Zealand and discovered high levels of formaldehyde resin, up to 900 times the recommended safe level in clothings particularly from China and Southeast Asia. This raises question as to the level of safety of some made-in china clothes. The report says that during hot weather, the pores are opened up, making it easy for people to absorb these chemicals inside their body. Professor Belsito, a dermatologist at Columbia University Medical Centre in New York, says dyes can also be a problem with new clothes. According to him, many synthetic fabrics get their hues from azoaniline dyes, which can cause a severe skin reaction in those who are allergic to such dyes. “Clothing that doesn’t require ironing or is labeled wrinkle-free may even contain perfluorinated chemical (PFC) used to make Teflon. This chemical is known to cause health issues. The toxic chemicals in new clothes may not produce immediate reactions for most, but the long term accumulation of these toxins added to our polluted air, water, and food can cause numerous health ailments,

Good Health New clothes may contain toxic chemicals, microbes ...Experts suggest you wash before wearing

including cancer”, Professor Belsito says. He advised that people should wash their new clothes at least twice before wearing them. This, he says, is because a single wash may still leave some of the dye behind, so for people allergic to the chemicals or those with compromised immunity, it is important to wash new clothes before wearing them. “Until much of the dye is rinsed out, some wearers might notice red, itchy, scaly rashes especially near the areas where there is friction or sweating, like the waist, neck and thighs and around the armpits,” he says, adding that new clothes could also harbour bugs and insects left by people who have tried them on in the stores. “I have seen cases of lice that were possibly transmitted from trying on in the store,

DID YOU KNOW?

Olive oil can revive a failing heart

cientists have found that oleate, a common healthy fat found in the oil can help a diseased heart muscle work better. Experts have hailed the exciting findings and say they are further proof that eating a diet rich in good fats can dramatically improve and protect heart health. And they said that there was even a benefit in consuming the staple of the Mediterranean diet even after heart disease had set in. Dr Douglas Lewandowski, director of the University of Illinois Centre for Cardiovascular Research in the US,

National Mirror www.nationalmirroronline.net

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Monday, June 8, 2015

said: “This gives more proof to the idea that consuming healthy fats like oleate can have a significantly positive effect on cardiac health.”

and there are certain infectious diseases that can be passed on through clothing. Lice don’t stay long without a host, but they tend to attach better to natural fibres than synthetics. The other infestation I’ve seen from clothing is scabies”, he says. Again, Dr. Philip Tierno, director of clinical microbiology and immunology at New York University Langone Medical Center, tested new clothing from three stores, upscale and otherwise, and found them populated with all manner of bacteria, including those associated with feaces, armpits and the vagina. The volume of bacteria in some instances suggested that the item of clothing had been tried on by many shoppers or even taken home, worn and returned to the store. “On some clothes we discovered evi-

dence of faeces, skin flora and respiratory secretions, especially in the armpit and close to the buttocks. “Most people are unaware and think that they can’t really catch anything from these clothes because they are dry, they are on the rack and they are new. They are not realizing that numerous individuals try them on and contact certain parts of their body that may transmit potential pathogens”, he says. In order to protect yourself from harmful bacteria, Tierno recommends washing your new clothes or running them through one cycle in a hot dryer before wearing them. Also, the researcher suggests wearing clothes underneath while trying on new clothes and washing your hands after shopping.

Drinking coffee may reduce risk of type 2 diabetes

ncreasing coffee consumption by an average one and half cups per day over a four-year period reduces the risk of type 2 diabetes by 11 percent, research shows. Coffee and tea consumption has been associated with a lower type 2 diabetes risk but little is known about how changes in coffee and tea consumption influence subsequent type 2 diabetes risk, until now. The research published in Diabetologia, the journal of the European Association for the Study of Diabetes, shows that increasing coffee consumption by an average one and half cups per day over a four-year period reduces the risk of type 2 diabetes by 11 per cent. The research is led

by Dr Frank Hu and Dr Shilpa Bhupathiraju, Department of Nutrition, Harvard School of Public Health, Harvard University, Boston, MA, USA, and colleagues. The authors examined the associations between 4-year changes in coffee and tea consumption and risk of type 2 diabetes in the subsequent 4 years.

Photo News

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

L-R: Managing Director, Zeph Associates Ltd, Tochukwu Nwosu; Head, Regional Sales, SouthSouth Region, Enekwachi Aja; Acting Director, Channel Sales, Victor Nwaobia, and Managing Director, Cantstop Nigeria Ltd, Ndukauba Chukwu, during Etisalat Hero’s loyalty trip to Amsterdam, recently.

L-R: Chief Executive Officer, Bi-Courtney Aviation Services Ltd (BASL), Mr. Christophe Penninck; winner of Kia Rio grand prize, Miss Gbemi Shotade and Chief Operating Officer, BASL, Ms. Adebisi Awoniyi, during the grand finale of the MMA2KIARACE Instagram competition in Lagos, on Saturday.

L-R: Public Affairs Manager, Lagos and West, Nigerian Bottling Company (NBC) Ltd, Ms. Ifeoma Okoye; Managing Director, Lagos State Waste Management Authority (LAWMA), Mr. Ola Oresanya; Recovery Manager, LAWMA, Mrs. Tolulope Adeyo and Head, Public Affairs and Communications, NBC Ltd, Mr. Uzo Odenigbo, during a sanitation exercise to commemorate 2015 World Environment Day at Oyingbo market in Lagos, at the weekend.

L-R: Tinsel cast, Gbenro Ajibade, Iyke Okechukwu, Taiwo Ajayi Lycett and Anne Njemanze, during Tinsel cast autograph signing at Ikeja City Mall, at the weekend.

National News Tola Akinmutimi

oves by federal and state governments to reduce the rate of unemployment appears not to be yielding results, as the number of unemployed persons in the country rose by 861,110 in the first quarter of this year. This represents a 7.5 per cent compared to 6.4 per cent unemployed rate in the last quarter of last year. In the quarter under review, the labour market increased to 73.4 million from the 72.9 million mark in Q4 of 2014, representing an increase of 0.69 per cent. This implies that 504,596 economically active persons within 15-64 years entered the labour market or were actively looking for work between January 1 and March 31, 2015. The figure was contained in the Unemployment/Under-Employment Watch published by the National Bureau of Statis-

Nigeria’s unemployed rises by 861,110 in Q1, 2015

…More unemployed women in labour market tics, NBS, at the weekend for the three-month period ended March 31, 2015. The report indicated that during the quarter, the total number in full employment (did something for at least 40hours) increased by 0.88 per cent while the underemployed during the review quarter declined by 6.46 per cent, resulting in a reduction in the underemployment rate to 16.6 per cent (or 12.2 million) from 17.9 per cent (13.1 million) in the preceding quarter. The NBS stated: “The number of unemployed in the labour force, on the other hand increased by 861,110 persons or 18.43 per cent between Q4 2014 and Q1 2015, resulting in an increase in the unemployment rate to 7.5 per cent in

Q1 2015 from 6.4 per cent in Q4 2015. “Accordingly there were a total of 17.7 million people between ages 15-65 either unemployed or underemployed in the labour force in Q1 2015. “The fact that the number of people that became unemployed (861,110 people) in the first quarter 2015 exceed the number of people that entered the labour force within the same period (504,596 persons) is an indication that some persons previously working in full employment lost their jobs, while others previously underemployed and doing temporary or part time work ended whatever they were doing and accordingly now didn’t have anything to do for at least 20 hours a week dur-

ing the reference period. “Evidence of the latter case may be seen in the drop in the underemployment rate and simultaneous rise in unemployment.” The Bureau also reported that when analysed by age basis, unemployment and underemployment was highest for the youth population between the ages of 15-24 and 25-34 which represents the youth population in the labour force. According to the bureau, while the unemployment rate for those within ages 15-24 was highest at 13.7 per cent within the review period, up from 11.7 per cent in Q4 2014, the underemployment rate for those within the ages 15-24 was 30.6 per cent. For those in the labour

force within the ages of 25-34 however, unemployment rose to 8.2 per cent in the first quarter of this year from 6.9 per cent in the last quarter of 2014, while underemployment stood at 17.7 per cent within the period under review from 19.0 per cent in Q4 2014. The Bureau reported that based on the above trend, 44.3 per cent of Nigerians in the labour force (not entire population) aged 15-24 were either unemployed or underemployed, while another 25.9 per cent, aged 25- 34 were either unemployed or underemployed in the quarter under review. A further decomposition of the unemployment/under-employment rate on gender basis

showed that unemployment and underemployment was higher for women than men in Q1 2015. The NBS stated that while 8.9 per cent of women in the labour force (those between 15-65 willing, able and actively working or searching for work) were unemployed in Q1 2015, up from 7.5 per cent recorded in the preceding quarter, on the other hand, 6.3 per cent of males were unemployed at the same period. Similarly, the Bureau noted that while 19.6 per cent were underemployed in the quarter under review, up from 5.4 per cent in Q4 2014, the underemployed males in the labour force stood at 13.9 per cent at the end of the first quarter this year.

National Mirror www.nationalmirroronline.net

News

Monday, June 8, 2015

JPMorgan may delist Nigeria from key bond index

….grants 6-month extension to new govt CONTINUED FROM PAGE 1

ness with minimal hurdles. The implications of the country’s removal from the GBI-EM are that it could lead to massive capital outflow, higher borrowing costs and attendant macro economy instability. The bank told Reuters yesterday it had extended the deadline to eject the country by another six months, taking into account the arrival of President Muhammadu Buhari. JPMorgan, which runs the most commonly used emerging debt indices, placed Nigeria on a negative index watch in January and then said it would assess its place on the index over a three to five-month period. “Nigeria’s status in the GBI-EM series will be final-

ised in the coming months but no later than year-end,” JPMorgan said. Removal from the index may compel foreign investors to sell Nigerian bonds from their portfolios, thereby resulting in significant capital outflows. This in turn would raise borrowing costs for the country that is already suffering from a sharp drop in revenue, following the fall in oil prices. Forex and bond markets have come under pressure after the price of oil plunged. In response, the Central Bank fixed the exchange rate in February after devaluing the naira last year and tightened trading rules to curb speculation. The naira has lost 8.5 per cent this year.

“If we are unable to verify these factors, a review of Nigeria’s status within the benchmark for removal will be triggered,” it said in the report, adding that the factors include a liquid currency market. JPMorgan added Nigeria to the widely followed index in 2012, when liquidity was improving, making it only the second African country after South Africa to be included. It added Nigeria’s 2014,

2019, 2022 and 2024 bonds. It stated that Nigeria continued to remain eligible for the GBI-EM index, which has around $210bn in assets under management benchmarked to it, with a weight of 1.8 per cent. The Central Bank last week made a slight adjustment to its exchange rate peg to the dollar, which one analyst said may indicate that it is beginning to think about how to loosen its currency regime.

CBN governor, Mr. Godwin Emefiele, confronted with lower crude prices and a naira that has weakened 18 per cent against the dollar in the past 12 months, enforced trading restrictions to stabilise the currency. He said the measures were designed to curb speculative demand for dollars, adding that any investor is still able to enter and exit the market freely. However, analysts do not expect JPMorgan to strike

out Nigeria. An analyst said the $4bn Nigerian local-currency bonds could be impacted by JPMorgan’s decision. A fund manager at Investec Asset Management Plc, Antoon de Klerk, said it would be a tragedy if Nigeria is de-listed from the widely followed index. His words: “It’s on the radar screen of investors. They’re very concerned about it. It’d be a near tragedy if Nigeria is kicked out.”

PDP, Mark back Saraki, Dogara for Senate President, Speaker CONTINUED FROM PAGE 2

The consensus arrangement was done allegedly to checkmate Saraki and Doghara, whose supporters stormed out of the meeting the party leadership held with all elected federal lawmakers on its platform. In a related development, the Consolidation Group, a circle of members of the House of Representatives supporting Hon. Dogara, yesterday kicked against Gbajabiamila’s mock choice for the Speaker’s position. The group said it has written President Muhammadu Buhari, who had initially indicated no interest in the affairs of the National Assembly, but is being forced by the party leadership to support Lawan and Gbajabiamila. Rejecting the party’s mock choice of National Assembly leadership at a press briefing yesterday, the group insisted that the exercise was marred by fraud and that it was against the party’s constitution; hence its decision to walk out and wait to elect Dogara as their own choice for Speaker tomorrow. It said: “The 154 votes allocated to Gbajabiamila and three to Dogara showed that the party has made a mockery of itself. We walked out of the venue and yet some-

body allocated votes to us. So, members of the public will understand how things have degenerated in our party. “We never participated in that election. We rejected that election. The numbers that were allocated to us, we reject them. So, ask the party to please toe the path of honour and allow us to decide who will be our Speaker. The House should be left alone to elect its Speaker tomorrow.” The group’s spokesman, Hon. Abdulmumuni Jibrin, APC-Kano, went ahead to tongue lash the party and Tinubu, alleging that the former governor of Lagos State was trying to pocket the House by ‘foisting’ Gbajabiamila, his protégé and lackey on them. Jibrin said: “The number four citizen, Speaker of the House, cannot be pocketed by one individual because of his greedy disposition.” He recalled that “in 2011 some of us were in the PDP and we saw what happened. We are not surprised that after huge intimidation, such numbers are being bandied about as the supporters of a candidate.” Regretting and alleging that the APC was taking the reins of governance on very wrong footing, the group reiterated its resolve to choose Dogara as House Speaker.

L-R: National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Obasi Lawrence; Permanent Secretary, Ministry of Petroleum Resources, Mr. Taiye Haruna; Executive Secretary, Major Oil Marketers’ Association of Nigeria (MOMAN), Mr. Obafemi Olawore and representative of Group Managing Director of NNPC, Dr. David Ige, during a stakeholders meeting to address the current petrol scarcity, in Abuja, at the weekend.

NLC urges Buhari not to assent 46 bills passed by NASS

…calls for review of lawmakers' jumbo salaries, allowances

igeria Labour Congress, NLC, has advised President Muhammadu Buhari not to assent to the 46 bills recently passed by the 7th National Assembly. The union said the process leading to the passage of the bills was fraught with anomalies. The 7th National Assembly had at the twilight of its legislative session, hurriedly passed 46 bills merely by voice vote, an action which has generated criticisms from the people. NLC president, Comrade Ayuba Wabba, in a statement yesterday, berated the lawmakers for taking the obnoxious path of hurriedly passing the bill, describing their action as legislative rascality. In the light of this, Comrade Wabba urged the new

President to return the bills to the 8th National Assembly to undergo proper legislative processes. He said: “Whoever advised our lawmakers to take this reckless path to lawmaking has only succeeded in putting an indelible dent on whatever achievements that the 7th session of the National Assembly wished to be ascribed to it. “By this singular action, our distinguished and honourable lawmakers have not only displayed gross disdain for the philosophy of lawmaking in a democratic setting, they have even more so exposed their manifest lack of interest in and commitment to the wellbeing of the country. “They have by so doing, apart from ridiculing themselves, also unfortunately embarrassed the country

in the eyes of the civilised global community. “By skipping the first, second and third reading processes, as well as the public hearing on these bills, our lawmakers have denied Nigerians the basic opportunity to interrogate the desirability or otherwise of these bills. “In the light of the cavalier manner in which these bills were passed, the congress wishes to, with all sense of responsibility, call on Mr. President not to sign them into law. “He should instead return them to the incoming 8th National Assembly to be subjected to proper legislative procedures.” While congratulating members of the incoming 8th Assembly, the NLC boss called on them to align themselves with the path of good

governance. The statement reads further: “In line with the current popular mood of the country for change, the NLC expects the incoming legislature to depart from the opaque ways of the previous sessions of the National Assembly. “Congress, and indeed Nigerians, expect the incoming legislators to be prudent, accountable, transparent and more effective in their legislative and oversight functions. “In this respect, it will be in the public interest if the huge resources committed to members’ welfare and other pecks of office, are reviewed drastically downward in line with our current economic realities and re-directed to more demanding areas of the economy in the overall interest of all.

National News

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Police arrest kidnap suspects in Imo

•Youths raze buildings over cop’s death Chris Njoku OWERRI

hree armed gangsters believed to be responsible for most kidnapping operations in Imo State were at the weekend arrested while attempting to kidnap a lady in the state. The suspects were at the point of kidnapping one Lady Happiness Njoku of Umuaka village in Ngor Okpalla Local Government Area when luck ran out on them. They are Obioma Emereole, 22, Kingsley Chimankpam, 29, and Chigaemezu Oguoma, 27. The former cult members were believed to be responsible for several deadly kidnapping missions in Ngor Okpala council and environs. Parading the suspects before newsmen, police spokesman, Andrew Enwerem,

disclosed that the items recovered from them included one locally-made shotgun with a live cartridge, mask, handcuff, cellotape used in sealing the mouth of a victim, a bundle of twine rope used in tying victim and an axe. Also, the anti-kidnapping unit of the command arrested one Barnabas Chidebere aged 34 years, Chinwendu Okaru, 29, Chibundu Amadi, 32, and Kenneth Ordu, 29, all of Ohaji-Egbema council area. The suspects were arrested in connection with a victim, Mrs. Martina Ndukwu of Umuokanne Mbgirichi road, Ohaji-Egbema. According to the police PPRO, one Toyota 4 runner jeep with reg no KTU 168 AU used to kidnap the victim was recovered from the hoodlums. DSP Andrew Enwerem expressed sadness that the

state was being infested by criminals. “The rate at which these boys enter into crime is alarming. When you arrest 10 criminals today, the next day about 20 of them would join another gang,” he stated. He appealed to parents to always monitor the activities of their children, to keep them from crime. Meanwhile, the sleepy Umuodogo village in Egbeda autonomous community in Mbailtoli local government area of Imo State was awoken at the weekend when irate youths of the village set five houses ablaze while pro-

testing the untimely death of their kinsman who was recently promoted to the rank of Deputy Superintendent of Police in the state Police Command. It was reliably gathered from the community that before the mysterious death of the DSP, Uchenna Collins Eke, he had a running battle with his uncle and head of the village, Chief Akuta Eke, and some family members over a piece of land belonging to the family which the late police officer had taken to erect a building. However, suspecting foul play in the death of 43-year-old police officer,

the youths of the community consulted an oracle apparently to unravel the mysterious death of their kinsman, which allegedly pointed in the direction of Chief Eke, Madam Theresa Eke and Sylvester Eke as those responsible for his death. It was also gathered that the town union apparently not satisfied with the findings of the youths had also carried out a traditional inquiry from another oracle that also allegedly pointed in the direction of the late policeman’s uncle. Satisfied with their findings, the aggrieved youths

mobilised their members and descended on the accused and in the process set ablaze about five houses belonging to Chief Eke, Madam Theresa Eke and Sylvester Eke as other members of the family fled the compound to avoid being burnt alive by the rampaging youths. Before the arrival of armed police men to quell the situation, the rampaging youths had visited more destruction on the family. Chief Eke and members of his immediate family, who are now taking refuge in a neighbouring village, have pleaded innocence in the matter.

Nigerians in South Africa set agenda for FG

ome Nigerians resident in South Africa yesterday urged the Federal Government to tackle insecurity, unemployment, epileptic power supply and poverty facing the country. The Nigerians made the call at the sidelines of the inauguration of National Secretariat of the Nigerian Union in Pretoria, South Africa. Prof. Dele Braimoh, a retired professor of Adult and Distance Education, University of South Africa, urged the Federal Government to tackle insecurity in the country. Braimoh also said many Nigerians in the Diaspora were willing to return to contribute to the development of the country in various fields. Rev. Harold Anagu, Senior Pastor, Jesus the Breathe of Life International Ministry, Pretoria, urged the Federal Government to work for the unity of the country. Chairman of the Nigeria Union, North West Province chapter, Mr Chikaodili Nwanedo, called on the government to tackle epileptic power

supply in the country. He said inadequate power supply had taken its toll on Small and Medium Scale businesses in the country. Chairman of the Nigerian Union, Gauteng Province chapter, Mr Mathew Okafor, urged Federal Government to tackle insurgency and improve on intelligence gathering. Okafor, an IT specialist in Johannesburg, commended President Muhammadu Buhari for relocating the command centre of the armed forces to Maiduguri, Borno State, in order to effectively tackle insurgency. The President of Arewa in South Africa, Mr Nimram Longbap, said Nigeria was blessed with resources to make her the leading economy in Africa. Longbap also said Federal Government has the potential to win the war against Boko Haram. “ I appeal to other intelligence agencies in the country to sit up and assist the armed forces in intelligence gathering to overcome the insurgents,’’ he said.

L-R: Bishop of Owo Emeritus Methodist Church Nigeria, Rt. Rev. Gregory Bamgbose; Archbishop of Lagos, Dr. Joseph Sunday Ajayi, JP; Lay President, Diocese of Lagos, Bro. Segun Sofunke; Synod Secretary, Very Rev. Sola Ala and Bishop, Diocese of Ikorodu, Rt. Rev. Olumu Yiwa Adejayi, during the 2015 Annual 5rd Diocese of Lagos Synod, Methodist Church Nigeria, at the Wesley Church Araromi Circuit in Lagos, at the weekend.

APGA chieftains allege imposition of national leaders

hieftains of All Progressives Grand Alliance, APGA, Edozie Njoku and Matthew Ombugaku, have protested against the procedure adopted by the party to elect its new national leaders. The News Agency of Nigeria, NAN, recalls that APGA on June 6, held a National Convention in Awka and elected new leaders to take over from Chief Victor Umehled executive. The election, which was by voice vote to confirm the single candidates cleared for each position, produced Chief Ikechukwu Oye as

Chairman and Mr. Labaran Maku as Secretary, among others. The politicians, who briefed newsmen in Awka yesterday, however, expressed their discontentment with the sudden zoning arrangement. Njoku said he had campaigned across the country for the chairmanship position, but was surprised to hear that a zoning arrangement had ceded the position to Anambra, four days to the convention. The politician from Imo State, who contested the position in 2006, frowned at those who wanted to

scuttle the convention through the court. Njoku questioned the reason behind the handover of chairman from Anambra to another chairman from the same state after eight years in a party that famed itself as an Igbo or South-East rooted party. He also said candidates for the two positions zoned to Imo were foisted on them. On his part, Ombugaku, former APGA Board of Trustees member from Nasarawa State, said the election was not properly conducted. Ombugaku said he had laboured to build

the party in the state and had sacrificed a lot but was surprised that nothing differentiated APGA from other parties. The former APGA governorship candidate, said the party was a national party and should not be run like a private enterprise. He said popular consent added credibility to any process. The outgoing Chairman, Chief Victor Umeh, described Saturday’s election as a smooth transition, pointing out that the team that emerged did not only enjoy national support, but was worthy successors.

National Mirror www.nationalmirroronline.net

Monday, June 8, 2015

New national carrier: Aviation stakeholders reject committee members Olusegun Koiki

ajor aviation professionals in Nigeria’s aviation industry, over the weekend, kicked against composition of the new committee to ensure re-establishment of a national carrier for the country. The stakeholders alleged that majority of the committee members were those who contributed to the demise of the former national airline, Nigeria Airways, and were equally accused of mismanaging the defunct airline by the Judicial Commission of Enquiry headed by Justice Chukwudifu Oputa panel during the early stage of former President Olusegun Obasanjo’s government. Although, President Muhammadu Buhari’s administration is yet to make the list public, some stakeholders who had the privilege of seeing the list, alleged that among the members were former Managing Director of Nigeria Airways, Directors of the airline and

consultants of the carrier, who were accused of contributing to its massive debt profile. The Oputa panel in its White Paper had accused several top officials of the Nigeria Airways of defrauding the airline to the tune of several billions of naira and asked them to make refunds to government, but up till now, none of the indicted management staff and consultants whose names appeared on the new list made any attempt to make a refund. One of the stakeholders, who spoke under condition of anonymity with our correspondent in Lagos, and a former senior staff of Nigeria Airways, insisted that with such composition, the government could not guarantee the re-establishment of a successful national carrier for the country. According to the source, the committee is expected to map out strategies that would form the basis of floating a new national carrier with recommendations to government. The source said: “I can

tell you that effort to have another national carrier for Nigeria again cannot be successful because most of the names on the list, most of those on the Buhari list, were those accused of running Nigeria Airways aground and were told to refund billions of naira to government, but up till date they didn’t obey the order. “Now, the same sets of people were called upon to map out strategy for the formation of a new national carrier. What advice do you expect from them? As usual, they will be selfish and also position the impending carrier to fail.” The source continued that the composition of the new committee contradicted the zero tolerance for corruption posture of Bubari led administration. The source however, appealed to the new government to drop all the names of those indicted by the Oputa led commission if anything good is to come out of the renewed effort to bestow to the nation a new national carrier.

‘Reform legal education curriculum’

etermined to insulate law graduates from the ever expanding unemployment market, the Nigerian Association of Law Teachers, NALT, has called for an immediate expansion and reformation of the curriculum of legal education in Nigeria to accommodate new areas of market economies and developmental studies such as agriculture, medical science, physiology, nursing, sociology, psychology and marketing, among others. In a communique issued at the end of the association’s 48th Annual Conference at the Afe Babalola University, Ado-Ekiti, ABUAD, over the weekend, NALT reasoned that such immediate expansion and reformation of the curriculum will guarantee rapid development of the different spheres of the society and make law graduates employable in different fields of human endeavours. Besides, the communiqué, which was signed by

NALT President, Professor Smaranda Olarinde, emphasised that conscious efforts should be made to adopt the comparative and global perspectives to legal education in Nigeria, both at the law faculties and at the law school, against the current trend, which focuses mainly on domestic/municipal laws, which cannot guarantee production of legal practitioners who can respond effectively to the growing challenges of globalisation. Accordingly, Olarinde, who is also Provost, College of Law, Afe Babalola University, Ado-Ekiti, opined that the curricula of legal education in the universities and law school should be restructured to incorporate comparative and global legal studies for the benefit of Nigerian lawyers, who desire to play at the global level. The law teachers would want more attention to be paid to ethical issues in the admission of candidates into the law programme, admis-

sion of university graduates into the law school and above all, admission of law school graduates into the Bar to checkmate the “infiltration of men and women of questionable character into the legal profession and ensure the sustenance of the sanctity and nobility of the law profession”. To give vent and verve to this position, Olarinde suggested that the teaching of professional ethics should start from individual law faculties and be consolidated upon at the law school before lawyers are released to the world of legal practice. On the contentious issue of those who qualify to be admitted to study law, Olarinde said in view of the importance of the legal profession in national development, henceforth, those to be admitted to study law should be mature students with broad knowledge in Arts and Sciences as is the practice in the United States, Germany and other countries in the world.

News

South West

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Undergraduate wins Bi-Courtney’s online competition

23-year-old undergraduate, Miss Gbemi Shotade, has emerged winner of Nigeria’s most innovative and exciting online competition, MMA2KIARACE, as it came to a close in Lagos at the weekend, with an impressive ceremony at Murtala Muhammed Airport 2, MMA2. The Instagram-driven competition was sponsored by Bi-Courtney Aviation Services Limited, operator of MMA2 and co-sponsored by Kia Motors. Supporting brands included Pepsi, Levi’s, Microsoft, T.M.Lewin, Swatch, Dana Air, KFC and Le Meridien. Over 2,000 people from across the country and overseas took part in the monthlong competition, which kicked-off on May 7, on the occasion of the eighth anniversary of MMA2. The final 20 participants took part in the grand finale. Also, some of the 300 participants, who won gifts at various stages of the competition, were present to redeem their gifts. After a keen contest, which saw the finalists compete in four tasks, including

aptitude test and a lucky draw, Shotade, a 200-level student of Business Administration at the University of Lagos, LASU, emerged winner of the Kia Rio grand prize. The first and second runners-up won get-away weekend for two in an Executive Suite and an Executive Double Room, respectively, at Le Meridien Ibom Hotel, Uyo, Akwa Ibom State, with free return tickets on Dana Air. The third and fourth runners-up won Pepsibranded fridges. The final 10 contestants also won a Nokia Lumia phone each, courtesy of Microsoft. Other gifts, including crates of Pepsi drink, T.M.Lewin shirts, Levi’s sneakers, Swatch wristwatches and KFC’s meal vouchers, were distributed to winners. The presentation of the grand prize was done by Chief Executive Officer, BASL, Mr. Christophe Penninck, assisted by BASL’s Chief Operating Officer, Ms. Adebisi Awoniyi, Head of Marketing, Kia Motors, Mr. Olawale Jimoh, and Dana’s brand ambassador, Mr Bright Okpocha (aka Basket Mouth).

Osun SDP, PDP tackle APC, Aregbesola over salaries Boladale Bamigbola OSOGBO

wo leading political parties in Osun State yesterday clashed with the ruling All Progressives Congress, APC, over non-payment of six months salaries of workers and other issues related to governance in the state. In separate statements issued in Osogbo yesterday, while the Social Democratic Party, SDP, urged Governor Rauf Aregbesola to immediately declare his assets or the party would be compelled to publish it, the Peoples Democratic Party, PDP, offered “suggestions” on how the governor could fund salaries for the workers. The SDP in a speech credited to Chief Demola Ishola, state party chairman, faulted Aregbesola’s defence on expenditure of funds that accrued to the state, saying it was inconsis-

tent with facts in its possession. The SDP said it conducted private investigations and discovered how the governor “allegedly acquired enormous assets in the last four years in a state where millions of indigenes live in abject poverty.” Ishola also said, “The governor’s monthly N500 million security votes and the N32 million monthly earmarked for the governor’s wife feeding allowance is worrisome to SDP.” Reacting, the APC, through its director of publicity, media and strategy, Kunle Oyatomi, dismissed SDP’s claims, urging the party to go ahead and publish what it knows about Aregbesola. The party described SDP’s allegation as “stupid and far from the truth,” saying, the governor knows his onions and can never get himself involved in untoward acts,

L-R: Vice President, Africa’s Young Entrepreneurs (AYE), Ms. Ibada Ahmed; Lagos State Governor Akinwunmi Ambode and President/ Founder, AYE, Summy Smart Francis, during Africa’s Young Entrepreneurs Empowerment Nigeria (AYEEN) 2015, in Lagos on Saturday.

Aladetoyinbo emerges new Deji of Akure …may be installed today

Ojo Oyewamide AKURE

prince from Osupa ruling family, Aladetoyinbo Kole Patrick, has been selected as new Deji of Akure, Ondo State capital. A source told National Mirror that Aladetoyinbo was unanimously selected yesterday by Akure kingmakers among 13 people who showed interest in the throne.

The source, who is close to the kingmakers, said: “The process of selecting a new Deji by the kingmakers has been concluded. It is their unanimous decision that Aladetoyinbo Kole should be the next monarch. “His name has been sent to the governor as the new Deji. The governor has even invited him. It is likely he would be given Staff of Office on Monday (today).” The Osupa ruling house had on Friday forwarded a

list of nominees to the kingmakers after a meeting at the residence of its head, Dr. Ade Ogunleye. The meeting was attended by officials of Akure South Local Government, who were there to observe and supervise the proceedings. The nominees included Kayode Oluwole, Adegbola Adelabu, Adegbite Kayode, Adejuyigbe Femi, Adeolu Adepoju, Aladetoyinbo Kole Patrick and Agbebi Leye. Others were Arimoyo Ayodele, Bello Oluyemisi,

Daramola Adeyemi, Ade Falodun, Ogunsuyi Oluwole and Samuel Adegboro Adebayo. The state government had on Monday written a letter through Akure South local government, directing the ruling house to nominate a candidate for the approval of kingmakers. The stool became vacant on December 1, 2013 when Oba Adebiyi Adesida from Ojijigogun ruling house died after reigning for three years.

Court orders $12m to be paid to Swiss firm Gbenga Ogunbufunmi

Federal High Court sitting in Lagos has ordered a Nigerian company, Westcom Technologies and Energy Services Limited, to pay $12,064,435 to a Swissbased firm, Transclear S.A., being demurrage accrued on several shiploads of bulk cement sold to the Nigerian company. Justice Musa Kruya gave the order sequel to a suit filed before the court by Lagos lawyer, Olumide Sofowora (SAN), on behalf of Transclear Limited. According to testimony of Managing Director of the Swiss company, Mr Attila Paulovits, while being led in evidence by his counsel, Mr Sofowora, the plaintiff said his company entered into an agreement to supply five cargoes of

bulk cement to Westcom Technologies on credit and that the company was supposed to pay for the consignment based on the terms of agreement. According to the Swiss company (plaintiff), the bulk of the cement was delivered as agreed, but were not discharged from the vessel by the defendant as and when due, resulting in accrual of demurrage on all the vessels to the tune of $8,500,000, which became due and payable to the various ship owners. Paulovit further told the court that the defendant company pleaded with the plaintiff to continue to supply it with bulk cement based on the terms and agreement and promised to defray the outstanding demurrage. He said thereafter, additional four shiploads were supplied and

statement of account of the demurrage accrued on the nine vessels shows the defendant was indebted to the plaintiff to the tune of $12,063,435. The plaintiff said that based on several agreements and promises by the defendant to pay, he came to Nigeria on several occasions and held several meetings with both Messrs Niyi Oyedele and Kola Sowande, the chairman and Managing Director of Westcom Technologies respectively, who promised to pay the debt, but till date had failed. Paulovits tendered seven documents as exhibits to support his claim. However, the defendant, in its defence, tendered six documents to back up its case. The defendant while

under cross examination, admitted that indeed the sum of $12,063, 444,96 was due to the plaintiff and that the money had not been paid. The defendant however, contended that the plaintiff ’s claim is not truly a claim for demurrage as to confer the requisite jurisdiction on the court to entertain the plaintiff ’s legal action. In addition, the defence contended that the sum of $12,064,435 being claimed by the plaintiff under the agreement is not supported by any consideration since the acknowledgement agreement of the debt was not made under seal. However, Justice Kruya ordered Westcom Technologies to pay Transclear S.A. the sum of $12,064,435.

National Mirror www.nationalmirroronline.net

South West 9

Monday, June 8, 2015

Police reward SARS men for bursting kidnap syndicate Boladale Bamigbola OSOGBO

seven-member unit of Special Anti-Robbery Squad, SARS, Osun State Police Command, have

been rewarded for their recent victories over kidnap syndicates and armed gangs in different parts of the state. The award recipients, led by Inspector Felix Okeyemi, among others,

Nigeria lacks faithful, honest people –Osinbajo ...Ambode promises to touch lives through selfless service Francis Suberu

ice President Yemi Osinbajo yesterday said the nation was in dire need of men and women of impeccable characters, noting that Nigeria lacks men and women who are faithful, diligent and honest. The vice president, who was received along with Lagos State Governor, Mr. Akinwunmi Ambode, at the 7th edition of the Redeemed Christian Church of God, RCCG, Apapa Family’s Excel Programme, held at Tafawa Balewa Square, TBS, Lagos, yesterday, noted that Nigeria was abundantly blessed with human and natural resources, but the people need to work more on their strength of character. Professor Osinbajo in his address on the occasion backed up his assertion with anecdotes on how diligence and faithfulness could lift a man, restating that Nigeria needs faithful men and women that could be trusted to do the right things; people who are honest and diligent. “There are many people who are bright and intelligent, but what we lack are faithful men and women men and women who can be trusted to do the right things, who can be honest, diligent and can do what needs to be done.” “If you are a security man, if you are a driver, you need faithfulness in the little things you are doing. It is that faithfulness and loyalty to what you are doing that will set you out. That is the change our nation needs and we would not only be harbingers of that change but be that

change,” Osinbajo said. However, Governor Ambode in his address, promised to touch lives through selfless service; even as he restated his commitment to ensuring that no one was left behind as his administration strives to better the lot of residents in the state in the next four years. He said no one, irrespective of colour, race, status, ability or disability, would be left behind as the state marches progressively towards its collective destiny. Stressing that his victory at the April 11 election was the handiwork of God and the support of the people, the governor said he was committed to using his mandate to change the lives of Lagosians. He said: “I am eternally grateful to God for what He has done and still does in my life. It is now my responsibility to use this position to show His goodness by touching as many lives as possible through a selfless purpose-driven service.” While thanking the RCCG Apapa Family for its intervention and support to about 500 schools in Lagos, he said the projects would in no small measure boost confidence in the state’s educational system. The governor also assured that the state government would ensure that projects initiated by the church in the schools would be sustained. In his sermon, General Overseer of the RCCG, Pastor Enoch Adeboye, urged political office holders to use their positions to change the story of Nigeria, just as he assured that Nigeria would continue to march forward with the present crop of leaders.

were responsible for the rescue of one Abayomi Semowo and the arrest of his abductors, Ayo Sunday and Damilare Ojo, at a location close to Imo in Ilesa. Semowo was abducted at a location close to Osogbo Stadium, but was rescued few days after abduction with no ransom paid. The SARS men were also credited with the arrest of kidnappers of an Ilesa-based business mogul, Architect Idowu

Obembe, who was kidnapped in his office at Ijebu-Jesa road in Ilesa. Presenting the men with letters of commendation and cash reward, the state’s police boss, Abubakar Marafa, noted that the command recognised efforts of the SARS men in ridding the state of criminal elements. According to the police boss, the successes recorded by the men were a pointer to renewed efforts of the command to tackle crime in every

part of the state. He urged the men to remain conscious of the fact that people of the state rely on the police for protection of their lives and properties, adding that they should therefore put in more efforts as the command continues its onslaught on criminals. Marafa said: “I want to charge all men and officers of the command to ensure that we continue to join efforts towards in developing the country

by fighting crime in this state. “We are prepared to reward anyone of you that works hard and discharges his duty well. I believe it is for all of us to ensure that we justify the confidence reposed in us by the people of this state.” Other members of the team rewarded include Sgt. Ajibola Kolawole, Sgt. Abiodun Gbenga, Cpl. Oguntosin Oluwadare, Cpl. Olaniyan Afeez, Cpl. Akeem Adetoro and Cpl. Alidu Adaralewa.

L-R: Chief Imam of Ibadanland, Alhaji Abdul-Ganiyu Agbotomokekere; Guest Lecturer, Prof. Muftau Abdur Rahman; Chairman on the occasion, Chief Lateef Fegbemi and Chairman, Ibadan Muslim Community, Alhaji Mustafa Oyero, during the 5th Annual Pre-Ramadan Lecture for Good Governance, in Ibadan, yesterday. PHOTO: NAN

‘Why Aero aircraft had emergency landing in Abuja’ Olusegun Koiki

anagement of Aero Airlines yesterday explained why its Lagos-Kaduna flight made an emergency landing in Abuja Airport. Aero in a statement by its media consultant, Mr. Simon Tumba, stated that flight NG181, which departed Lagos at 18:28pm for Kaduna, had an emergency landing in Abuja following depressurisation of its Boeing 737-500 aircraft. Tumba disclosed that in about 25 minutes after take-off, the cabin got depressurised and based on sound professional training and experience, the pilot descended to 10,000 feet above sea level, the oxygen masks were automatically released from overhead compartments. He stated that since

the airline had a maintenance base in Abuja, its technical crew diverted the flight and landed in Abuja, while another aircraft was provided for onward journey of its passengers, adding that the second aircraft was used for the return journey to Lagos from Kaduna. The statement added: “While we regret the trauma our passengers may have suffered as a result of the incident and the consequent delays, we hasten to add that our technical crew was trained to handle this kind of situation. We are proud of the professional manner our technical crew handled the situation and commend them for their expert conduct and maturity. “Aero is Nigeria’s oldest aviation company and prides itself for the

constant training and professionalism given staff, which enhance service delivery.” It would be recalled that a national daily (not National Mirror) had alleged that about 120 passengers escaped death in the flight. The report purported that one of the passengers was the Director, Muslim Rights Concern, Prof. Ishaq Akintola, who stated that the aircraft developed technical fault mid-air when it suddenly lost altitude, 20 minutes after it took off from the domestic wing of the Murtala Muhammed Airport, Lagos. The technical fault, he said, forced it to wobble in the air for over one hour before it was eventually diverted to Abuja. He said: “The plane lost altitude 20 minutes after takeoff. We had to make use of the oxygen

masks. We saw smoke outside the plane, probably coming from the engine compartment. “At this time, the whole plane was thrown into commotion. Many passengers screamed and some fainted. Prayers upon prayers were offered. Some shouted “Allah; others Jesus.” Speaking further, the Muslim cleric said it was in the midst of the confusion that the crew, whom he lauded for their professionalism and unusual calmness, announced that the plane would be diverted to Abuja. He added: “While the pilot was making the announcement of the flight diversion, I noticed that his voice was trembling. He told us that Abuja was 120 miles away and that we would land in 25 minutes. But we were not sure we would make it.”

South East

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Oil producing community laments poverty level George Opara ABIA

il producing community of Igiri Ukwu autonomous community in Ukwa West Local Government Area of Abia State has called for intervention of both the federal and state governments, following degradation of the land by oil spillage and seismic activities of oil prospecting companies. The community said their water and land have been damaged by oil spill and seismic activities by oil prospecting companies, thereby depriving them of means of livelihood through the practice of agriculture and fishing, a situation that has affected their socioeconomic activities. Speaking at Igiri Ukwu Owaza, traditional ruler of the area, His Royal Highness, Eze Dr. Jonathan Onwugbufor Ezere, disclosed that Igiri Ukwu community alone has 150 oil functional wells that give the Federal Government and Abia State revenues, yet the area is underdeveloped. He said the community took upon themselves to ensure that pipelines belonging to Shell BP are not vandalised by hoodlums, yet no recognition for this patriotic action. “This shows that the people of the community are patriotic and law-abiding citizens and deserve compensations, even though our land had been taken over by oil companies, leaving us with little for farming, yet no encouragement from the government.” He called on the government to urgently

come to the aid of the community to assuage their suffering occasioned by environmental degradation and hazard from oil exploration and activities. Eze Ezere, who was flanked by his cabinet chiefs however, congratulated Governor Orji for having the political will to initiate and actualise the Ukwa Ngwa governorship project, stressing that the emergence of Okezie Ikpeazu as Abia State Governor, has given Abia South a sense of belonging in the state. While congratulating Ikpeazu for victory at the polls, he advised the new governor to remain focused and build on the foundation already laid by Governor Orji to do and surpass him, while urging his political opponents who are challenging his victory at the elections tribunal to withdraw and join hands with Ikpeazu to take the state to a higher level. Also speaking, a community leader in Igiri Ukwu, Chief Emeka Nwosu, lamented the non employment of the youths in the community into the civil service, urging the Abia State Government to address the issue.

Ikpeazu

L-R: National Chairman, All Progressives Grand Alliance, Dr. Okechukwu Oye; National Secretary, Mr. Labaran Maku and Deputy National Chairman, South, Chief Uche Okagbuo, during the national convention of the party at Awka in Anambra State, on Saturday. PHOTO: NAN

Ikpeazu bans illegal levy in Abia George Opara ABIA

bia State Governor, Okezie Ikpeazu, has warned against collection of any levy in the name of the state government in Aba, commercial nerve centre of the state, and Ariaria International market.

The governor said he had not instructed or authorised any person, agency, organisation or association by whatever name called, to collect any levy from anybody, markets or any part of the business community in the state. Godwin Adindu, Chief Press Secretary to the Governor, made this known in

a press release to National Mirror yesterday, saying the governor had already authorised abrogation of all forms of multiple taxation and levies in the state, adding that any person, group, organisation or association caught carrying out illegal taxation or levy collection under whatever

…inaugurates committee for infrastructural development George Opara ABIA

bia State government has inaugurated technical committee on Integrated Infrastructural Development Project, IIDP, aimed at bringing donor agencies and development partners to assist in developing state. Ikpeazu, while inaugurating the committee at Government House, Umuahia, capital of the state, said the initiative was to attract development partners, adding that he bought the idea when he was Deputy Gen-

eral Manager of ASEPA during the African Development Bank’s mission to understudy challenges of the state in areas of water and sanitation, among others. He said since government could not find adequate resources to do all, while depending on federal allocation, the best option was to convince donor agencies to assist. According to him, the project implementation body in the state is the technical team, while the following outputs are expected from projects like

construction/reconstruction and rehabilitation of rural and urban roads with improved drainage system, landfill facilities in Umuahia and Aba and equipment for solid waste management. Others are site sanitation facilities, emergency water supply rehabilitation works in Umuahia and Aba, as well as erosion control and watershed infrastructure, such as check dams, gully slope stabilisation infrastructure and bioremediation. The technical team, Ikpeazu said, would be sad-

Council boss dismisses APGA candidate’s allegation Dennis Agbo ENUGU

hairman of Udenu Local Government Area of Enugu State, Mr. Amechi Nwodo, has dismissed allegation of threat to life and political intimidation by Prince Emeka Mamah, the All Progressives Grand Alliance, APGA, candidate for Udenu/Igboeze North

federal constituency of Enugu State in the March 28 National Assembly elections. Nwodo said Mamah, instead of “crying foul” should respond to police invitation to answer questions relating to his threat to unleash violence and make governance difficult in the area for failing to win the election. The council boss de-

guise, will be dealt with according to the law. The statement added that security agencies have been detailed to take appropriate action. Similarly, members of the public and party officials were warned against asking and receiving any form of gratification for political appointments.

nied any plot to intimidate or pose a threat to the life of Mamah or any other person in the area, adding, “the story is not true as presented”. He noted that APGA members were only trying to whip up sentiment in order to have a case at the election petition tribunal, where they have gone to challenge the election of Dennis Agbo

of the Peoples Democratic Party, PDP, for Udenu/ Igboeze North federal constituency. It would be recalled that Mamah had last week raised alarm over threat to his life and that of his associates. Mamah, son of the late transport magnet and owner of Ifesinachi Motors Limited, Igwe James Mamah, said he

was afraid of his life following curious release from police custody of two suspects that allegedly shot and wounded his agents during the elections. Mamah, who addressed a press conference in Enugu over controversies trailing the general elections, said he had already approached the election pe-

dled with the responsibility of running the project, coordinating all its activities and those of consultancy and service providers that may be engaged from time to time and to ensure that the project objectives are achieved and to inter-phase with necessary government institutions and MDAs so as to realise the objectives. Further, the governor stated that the project has a lifespan of three years and charged the committee members to deliver on the entire goals and project development objectives.

tition tribunal to reclaim his mandate. The APGA candidate said he was shocked that while he petitioned the police on the alleged shooting of party members and attempted murder by suspected PDP members in Udenu Local Government Area, he was now being interrogated by the police in a revised order.

National Mirror www.nationalmirroronline.net

Monday June 8, 2015

North

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Allow legislators choose their leaders, NANS tells APC JOEL AJAYI ABUJA

midst controversies trailing the emergence of National Assembly principal officers, National Association of Nigerian Students, NANS, has urged the All Progressives Congress, APC, to allow the legislators choose their leaders in a democratic manner, warning that leadership of NASS was not a one party affair. The students union

in a statement signed by its President, Tijani Usman, yesterday, said the party’s interest in choosing who becomes Senate President and Speaker without allowing the legislators to decide those with impeccable credentials to lead was suspect. It would be recalled that APC had on Saturday organised a mock election to elect consensus candidates for the positions of Senate President, Speaker and their deputies, but the mock polls ended in disagree-

ment as some legislators boycotted the exercise. However, NANS warns that the seeming disagreement was a sign that if differences among APC legislators were not quickly resolved democratically, the party may be distracted from the

start in delivering campaign promises it made. The statement reads in part, “Nigerians are in a hurry to witness the change promised by APC, and it should not allow itself to be entangled on issues that do not portend well for the polity.

“The party must desist forthwith from trying to have overbearing influence on the legislature, including choosing its leaders. Let senators and members of the House of Representatives be allowed to elect their leaders in

a free and transparent process. Agreed, the APC are majority, but other political parties too have a say in who emergences; therefore, let the process be devoid of interference from political parties,” NANS stated.

Borno suicide bomber kills 2, injures 4

orno State Police Command on Sunday confirmed the killing of two persons after a suspected female suicide bomber detonated an explosive at Baga/ Monguno highway. Commissioner of Police Aderemi Opadokun, who spoke in an interview with the News Agency of Nigeria, NAN, in Maiduguri, said four persons were also injured. “A female suicide bomber detonated an Improvised Explosive Devise, IED, strapped on her body at Baga/Monguno highway, killing herself and two others on Saturday. “Four persons sustained injuries during

the attack,” he said. He also confirmed an IED explosion near a military checkpoint in Konduga Local Government Area, in which two persons were injured. “It is true that we had a suspected IED explosion at Tungushe village in Konduga Local Government Area on Saturday near a military checkpoint. “Two persons were injured and they are now being treated in a hospital,” he said. Opadokun called on residents to be vigilant and report strange objects to the nearest security checkpoint for action.

Bauchi State Governor Mohammed Abubakar (middle), Deputy Governor, Alhaji Nuhu Gidado and Chairman, Katagum Stakeholders Forum, Alhaji Mohammadu Danmadami, with members of the forum during a courtesy visit to the governor at Government House in Bauchi, on Saturday. PHOTO: NAN

NLC seeks ILO’s intervention on social dialogue revival OLUFEMI ADEOSUN ABUJA

igeria Labour Congress, NLC, has called on the International Labour Organisation, ILO, to prevail on the new administra-

El-Rufai swears in SSG, PPS, others

aduna State Governor, Nasir elRufai, yesterday swore in Secretary to the State Government, Malam Balarabe Lawal. Also sworn in were Principal Private Secretary, Malam Salisu Suleiman; Deputy Chief of Staff in charge of Legislative Affairs, Malam Bala Yunusa and Special Assistant, Media, Malam Samuel Aruwan. The governor charged

them to be dedicated to duty. “We are here for a serious business that requires dedication, commitment and sacrifice to achieve positive results,’’ he said. The governor asked them to reciprocate the kind gesture from the people of Kaduna State that voted him into office for a four-year tenure, adding that no one would listen to stories. “They expect us to work

hard to achieve results, and so we must work. “There is no room for excuses. We have no time to waste; neither do we have time to play. We have a duty to work hard for the development, unity, and progress of the state.” Responding, the new SSG thanked the governor for the opportunity given them to serve and assured him of the team’s readiness to carry out all tasks assigned to them.

tion headed by President Muhammadu Buhari to revive social dialogue, which had formed the basis of industrial relation in the country. It would be recalled that there have been series of industrial disputes in the country in recent times as no fewer than five unions are currently on strike. NLC President, Comrade Ayuba Wabba, made the plea in his presentation at the 104th ILO conference in Geneva, Switzerland. Ayuba, who rued the spate of industrial disputes in the country, also called for a global action against Boko Haram insurgency in Nigeria. He said, “We wish to quickly point out that one of the very foundational pillars of this institution

is social dialogue. In Nigeria, the late President Yar’Adua instituted and bequeathed a robust social dialogue mechanism that immensely benefited the industrial relations practices of the country. “Sadly, this legacy was allowed to suffer, thus avoidable industrial disputes in the health, education, judicial and oil and gas sectors became commonplace with dire consequences. We therefore, wish to request the ILO to avail the new Nigerian government the necessary technical and institutional support to revive social dialogue in the country. “Nigeria’s organised labour is committed to genuine participation in the revival of social dialogue as we are eager to discuss issues of job cre-

Al-Makura to sponsor education of physically-challenged

asarawa State Governor, Tanko Al-Makura, on Sunday promised to sponsor education of a sixyear-old physically challenged, Ismaila Dantani, from primary to tertiary

institution. Dantani, who hails from Ashangwa in Lafia Local Government Area of Nasarawa State, is among Internally Displaced Persons, IDPs, taking refuge in Lafia after one of the

communal crises that engulfed the state last year. News Agency of Nigeria, NAN, reports that Dantani was sighted by Al-Makura while inspecting flood prone areas in Bukan-Sidi at Lafia-Jos highway.

Dantani also received N50,000 donation and a tricycle from the governor. “I will take responsibility for sheltering, feeding and educational needs of this young challenged person,” Al-Makura said.

Special Assistant to Governor Al-Makura on Media and Publicity, Ahmed Tukur, said the governor was moved by the boy’s plight and decided to sponsor his education and custody.

ation, migration management, social protection floors implementation and the broader issues around structural transformation of the Nigerian economy.” Wabba, who is leader of the Nigerian workers’ delegation, however, described as ‘impressive’ efforts by Director General of ILO and the governing body around critical issues of priorities such as the one to ensure the sanctity, integrity and relevance of the supervisory mechanism of the ILO is preserved and strengthened. While joining ILO Director-General in congratulating the 2014 Nobel Peace laureates - Kailash Satyarthi and Malala Yousafzai - for their efforts in championing the rights of children, Ayuba noted that it was not yet uhuru for many children across the world that were being engaged in child labour, trafficked into servitude, sexually abused, as well as conscripted as child soldiers into the many armed conflicts around the world.

Monday, June 8, 2015

Osun Assembly’ll add value to governance –Oyintiloye Ayo Esan

sun State House of Assembly member representing Obokun state constituency, Hon Olatunbosun Oyintiloye has expressed optimism that the sixth Assembly would add significant value to governance in the state. He spoke in his constituency office in Ibokun during a courtesy visit by some traditional rulers in Obokun Local Government, saying, the state would witness more development. Noting that with the calibre of newly inaugurated lawmakers, with different experiences, exposure and professional backgrounds, he said the Assembly would be proactive, vibrant and advance the course of good governance in the state.

Oyintiloye also said with the quality and experience of the elected leadership of the house, there would be mutual understanding and peaceful coexistence. He told the royal fathers that the atmosphere of love that permeated the House at the inauguration was a good omen for the growth of democracy in the state, expressing optimism that the House would pursue its legislative duties, checks and balances and oversight functions without compromising its independence as a separate arm of government as exhibited by the last assembly. Oba Ezekiel Alaba Oludare, Lupasi of Ipasi who spoke on behalf of the monarchs urged the lawmaker and the state legislators in general to work hard in ensuring that they use their positions to affect lives positively.

National Mirror www.nationalmirroronline.net

Politics

Delta APC has no state exco yet –Okotie-Eboh faction •I’m still the chairman –Prophet Erue Theophilus Onojeghen WARRI

he leadership crisis bedeviling Delta State All Progressives Congress, APC, seems to have no end in sight as Chief Adolo Okotie-Eboh-led faction has berated the Prophet Jones Erue faction for impersonating the executive committee of the party, saying that the party has no executive committee in the state until a new congress

is constituted. The Okotie-Eboh-led faction described as contemptuous the action of some members of the hitherto executives of the party whose election as executives of the party in the state was upturned and dissolved by Justice Obi of the Delta State High Court, Asaba, on April 30, for parading themselves as executives of the party. Spokesman of the Okotie-Eboh faction, Comrade Alex Eyengho, made

this declaration in Warri, weekend, while addressing newsmen, contending that the judgment delivered by Justice Obi on the suit filed before it by Chief OkotieEboh, declared the congress that purportedly elected Prophet Erue and others as executives of Delta State APC as illegal. He said: “In fact and by implication and by my layman’s interpretation, what this means is that all actions taken by the sacked Prophet Erue-led illegal

executive body is null and void and of no consequence whatsoever. “By extension, this means that there was never a candidate or candidates in all elections that were conducted in Delta State during the illegal tenure of Prophet Erue and others as state executives” Reacting, Prophet Erue said the judgment has been appealed by his executive, noting that he remains the chairman of APC until the appeal is decided.

Ekiti APC berates new Assembly members •APC frustrated – PDP Abiodun Nejo ADO-EKITI

kiti State All Progressives Congress, APC, has described the newly inaugurated House of Assembly as a contraption by Governor Ayodele Fayose to protect his personal interest instead of working to restore hope for the state’s development, noting that such selfish agenda held no promise for the growth of the state and political development of the people. APC state Publicity Secretary, Taiwo Olatubosun, in a statement said the membership profile of the new Assembly had revealed that many men and women lacking skills in tedious business of lawmaking were ‘selected’ to be members of the Assembly above eminently qualified Ekiti sons and daughters, to enable the governor

breathe on them to always have his way. Only few of them are worthy of the exalted position of legislators. He said: “Fayose just selected his cronies across the state above well-educated members and imposed them on the party. Most of them are miscreants and school drop outs who Fayose compensated as honourable members.” But the Peoples Democratic Party, PDP, which said APC was frustrated following its failure to impeach Fayose, described the statement as the height of irresponsibility by “a party full of irresponsible people”. PDP State Publicity Secretary, Mr Jackson Adebayo said: “To Ekiti people, all the Assembly members are better in all ways to the APC miscreants that they presented at the poll hence we won the entire seat clean.”

Hon. Abike Dabiri-Erewa (left) displaying her certificate as member of the 7th House of Representatives at the end of the session in Abuja, recently. PHOTO: NAN

Uneasy calm in Adamawa APC, as gov fails to meet Nyako Livinus Menedi YOLA

here’s an uneasy calm within the Adamawa State All Progressives Congress, APC, following the return of impeached former Governor Murtala Nyako to the state, with reports alleging that Governor Jibrilla Bindow shunned Nyako as he neither received nor welcomed him upon his return to the state capital over the weekend after over 11 months in exile. National Mirror investigations revealed that the disquiet is caused by angst

within the camp of Nyako loyalists, that his political benefactor, Bindow, shunned Nyako upon his return to the state. Although things have not been on the brighter side in the party since her victory at the polls, the governor and his aides staying away from the former governor clearly revealed a cold war within its ranks. However, Nyako, facing corruption charges before the Economic and Financial Crimes Commission, EFCC, at the weekend returned to the state to a rousing welcome from associates, supporters and followers within

the APC. Some APC chieftains who spoke to National Mirror, pleading anonymity, expressed disappointment that Bindow neither received Nyako nor visited him. Nyako who has been out of the state since his removal from office last July returned aboard a chartered flight at about 11:45am, to a boisterous reception by supporters and some residents who thronged to catch a glimpse of him Governor Bindow’s indifference to Nyako’s arrival was topic for discussion in camp of APC supporters loyal to the former governor,

describing it as “acts of betrayal.” Meanwhile, the tension in Adamawa APC has been traced by pundits to the subtle fight to control the soul of the party between former Vice President Atiku Abubakar and Nyako, while Nyako. Nyako, who urged for prayers from all in the state for President Muhanmadu Buhari, in his address to the mammoth crowd who followed him to his residence, neither made any mention of Governor Bindow nor called for support from his followers for the APC administration in the state.

Politics

fter politicking comes governance. Many politicians who won elections are now settling down for the business of governance from the federal to the states. In many states of the federation, new governors have inherited huge debts from their predecessors in addition to current economic challenges facing the country and other internal challenges peculiar to their states. As the governors settle down to the reality of governance now staring them in the face, many of them are desperately looking for ways out of the logjam to deliver on some of their campaign promises, or at least have something to show after the traditional 100 days in office, particularly, the first timers. In Taraba State, Governor Ishaku has taken over on challenging note where the state is borrowing from banks to pay workers’ salaries. The governor has not confirmed the debt burden he has inherited, but the immediate past Commissioner of Finance in the state, Barrister Emmanuel Gowon, told National Mirror that the outgoing administration was leaving behind a debt profile of over N22 billion for the incoming administration. The debt burden of over N22 billion, may sound very small compared to the over N300 billion inherited by the governor of Kano State, N418.203 billion inherited by Lagos State governor, N125 billion inherited by Bauchi State governor and other states where the governors inherited huge debts far above Taraba’s N22 billion inherited by Ishaku. But for a state like Taraba, N22 billion debt is huge sums of money given the monthly federal allocation to the state and the internally generated revenue, IGR, which for now cannot fuel and service the generator in the Government House for a year. Worst still, there is nothing on ground to show for the over N22 billion debt, unlike Kano and Lagos where the new governors are giving their predecessors a clean bill of health for the debts, which in many cases is as a result of ongoing projects which their predecessors left behind. In the case of Taraba, the immediate past administration have continually point accusing finger at Alhaji Garba Umar, who presided over the state for 25 months as acting governor, but was ousted by the Supreme Court judgment of November 21, 2014, which reinstated Sani Abubakar Danladi, who was impeached as deputy governor, for putting the state in her present situation. This accusation was re-echoed by Danladi, the immediate past acting governor and the governor himself on the day of his inauguration. Though many have accused Danladi of looting the state treasury, even more than Umar, who he now hide under his canopy to cover up his loot. His loot according to ‘Save Taraba Group’ in his six month rule is far above what he now accused Umar of looting. According to Ishaku, “we are in a very precarious financial situation. During the dark 25 months, when Governor Danbaba Suntai was incapacitated, there was wanton greed and financial recklessness with impunity, which led us to unprecedented indebtedness to commercial banks. “As I address you today, the immediate task ahead is seeking creative ways to revamp our finances; otherwise we shall be heading for bankruptcy. It is becoming increasingly difficult to pay workers salaries, let alone embark on any project.” Obviously aware of the high expectations from his fellow citizens despite the daunting challenges facing the state, Governor Ishaku gave his fellow citizens hope of better days ahead which he emphasised requires sacrifices and the cooperation of all. He said at his inauguration: “My fellow citizens, as I stand here on this podium looking at the horizon of Taraba State, I see a promise of possibilities; I see a promise of a greater tomorrow; and I see a promise of a united indivisible Taraba State. Based on these promises, I have a vision. I have a vision that in 10 years, Taraba State will be the leading economy in the North-

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Ishaku and the task to rescue Taraba Taraba State governor, Mr. Darius Dickson Ishaku, in his inaugural address told the people of the state that he was on a rescue mission in his four years mandate. JUSTIN TYOPUUSU takes a look at the task before the captain of the rescue ship.

Governor Ishaku signing his oath of office while his wife Barr. Mrs. Anna Mbasughun Ishaku looks on.

East sub-region. “This administration will strive to create and maintain an enabling environment conducive for optimal participation and sustainable engagement of key stakeholders and partners, by developing a sensitive and responsible political class, a vibrant and purposedriving bureaucracy, a veritable resource base, and a robust broad-based economy. People-based, government-enhanced, and private sector-led approaches will be employed to guarantee this pursuit. “This administration will harness the potential and endowments in agriculture, tourism, commerce and industries, as well as pay attention to education, health, water, sanitation and strategic infrastructure, using leverage from development partners and engaging public-private-partnership (PPP) options, to enhance this pursuit. “As I speak to you, I see the reality of a disenchanted and degenerated bureaucracy; I see the reality of an oversized public service; I see the reality of a financially indebted state; I see the reality in the decline and deterioration in the quality of education and the depletion of qualified teachers; I see the reality of patronage from stakeholders and the political class; and I see the

In the days ahead, a lot of sacrifices will be made to restore the soul of

Taraba State. Emotional investment would be required of all patriotic

citizens. We may not begin

to see results immediately... but I can assure citizens

of Taraba State that we shall overcome

reality of a welling army of unemployed youths. “With these realities stumbling over one another, it indicates a crisis. with these looming crises on the horizon, it will be impossible to attain the vision; it will be impossible to accomplish the promises; and it will be improbable to ‘Rescue Taraba’, until and unless we put all hands on deck to surmount these challenges that are genuine, serious and numerous solutions. “In the days ahead, a lot of sacrifices will be made to restore the soul of Taraba State. Emotional investment would be required of all patriotic citizens. We may not begin to see results immediately; we may not see the upturn of the darkest hours of our financial crisis; but I can assure citizens of Taraba State that we shall overcome, if all hands are on deck.” As promising as his words may be, Taraba citizens, particularly analysts, who spoke to National Mirror said, beyond the words, they expect to see a governor that would not just speak sweet and promising words, since the time of campaigns is over, but a governor embarking on robust actions that would be beneficial to all. Many of them have faulted the first key appointments made by the governor, particularly the appointment of the Secretary to the State Government, SSG and the media aides of the governor. To them, Ishaku should have injected fresh brains with fresh and modern ideas in his choice of such key appointments instead of recycling same generation of old politicians who have been in government all their lives, without significant value to the development of the state. But others are saying with the vast experience of the new SSG, Mr. Anthony Jellason, who have been in government since 1980s and that of the media aides, they will help the governor in no small measure in his rescue mission. A senior civil servant in the state who pleaded not to be named told National Mirror that Ishaku is ‘caged on arrival’ by a group of sycophants who surround him 24 hours, without giving him a breathing space, not to talk of allowing him take decisions as a governor. His worry is that if the governor continues this way, his quest to rescue the state would be a mirage. He advised Ishaku to exercise his authority as the governor and go all out to deliver on his campaign promises, noting that it is his integrity and score card that is at stake, not that of the people surrounding him. Apart from these, the governor is faced with the challenge of returning peace to the troubled state, which has witnessed killings and destruction of property in recent times. He is presiding over a state that has been highly polarised along religious and ethnic lines, which many have said is the cause of the unending crises in the state which is ongoing with pockets of killings going on in the state. He must take genuine steps in uniting the people and bringing the diverse religious, ethnic and political interest groups in the state together, if he must make real his pledge to rescue the state. As the clock continue to tick in the four year ‘rescue mission’ of Mr. Ishaku in Taraba, the people are looking up to him, the captain of the Rescue Mission’s ship to sail them through the battered waters of underdevelopment, ethno-religious crises, youth unemployment, decay infrastructure among others and take them to the promise land.

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Views

Monday, June 8, 2015

Chibok: Bring back other girls and boys YUSHAU A. SHUAIB

olonel Sambo Dasuki (retd), the National Security Adviser to former President Goodluck Jonathan, had in February 2015 strongly recommended the postponement of the general elections for six weeks to enable the Independent National Electoral Commission (INEC) address the challenges of untrained ad-hoc election staff and scanty distribution of permanent voters’ cards (PVCs). He also insisted that the military would need to address the insecurity in the North East of the country by liberating most terrorists’ infested communities within that period. Within the recommended six-weeks, the PVCs distribution rate had increased from less than 50 percent to over 75 percent, while the military had liberated more than 20 communities from terrorists in Adamawa, Borno and Yobe states. The elections afterward have been adjudged free, fair and peaceful. Similarly in April 14, 2015, Sambo Dasuki accurately predicted what Nigerian military would accomplish before the handover on May 29, 2015. Coincidentally, on the one year anniversary of the abduction of Chibok school girls, Dasuki gave an assurance that the Sambisa Forest would be stormed by the Nigerian troops, while the Federal Government was making every effort to ensure that abductees would be rescued from captivity from that enclave before the handing-over day. Speaking to PRNigeria, a media agency

that distributes press releases on behalf of security agencies, he insisted that government was concerned about the welfare of every single Nigerian, not only the Chibok girls, as other innocent Nigerian girls, boys, men and women were abducted by the terrorists and all efforts were being made by security agencies to rescue them. Today, the Sambisa Forest, the last fortress of Boko Haram had been invaded by the military, who have so far rescued over 300 captives and destroyed camps and armaments of the terrorists. However, there are those insisting that without the recovery of the Chibok girls, the military campaign should not be hailed. The Chibok incident was not the first abduction and not the last by Boko Haram terrorists. Before the advent of Bringbackourgirls movement, boys were burnt to death or slaughtered in various terrorists’ attacks in boarding schools. Others were abducted for conscription. Young captives, who were reluctant to join them in their dastardly acts of terrorism, were summarily executed. It is noteworthy that the BringBackOurGirls campaign has drawn global awareness to murderous exploits of Boko Haram after abducting school girls in Chibok town, Borno State. The campaign exploded across social media with a strong sense of outrage, catching the attention of global politicians, celebrities and social media fans. While we clamour for the return of these girls, we must bemoan the fact that other innocent lives have been lost, including military and security personnel from different parts of the country. The loss of se-

IT IS INDEED A DELICATE SITUATION WHEN TROOPS TRAINED IN CONVENTIONAL WARFARE ARE SUDDENLY CONFRONTED WITH ASYMMETRICAL WARFARE curity personnel in active service has made many families to loss their fathers, brothers, sons, and husbands. We hardly heard any campaign for Bring-back-our-boys or Bringback-the-corpses of bread winners for decent reburials. It is unfortunate that we get to the sorry state because some of communities had tolerated the excesses of the terrorists by silently paying ransoms after abductions without reporting to security agencies in the past. In fact some local leaders openly campaigned against the deployment of troops to curb the atrocities until the situation got out of hand. The military are also careful in their combat offensive in view of the fact that some abducted women are used as human shields, girls as suicide bombers and boys as child soldiers for Boko Haram. It is indeed a delicate situation when troops trained in conventional warfare are suddenly confronted with asymmetrical warfare. Therefore, in such operations, the troops must abide by

the excessive rules of engagement policy, including tactical withdrawals to avoid collateral damage to civilians. It is also rather unfortunate that some foreign powers have denied Nigeria the supply of sophisticated equipment over flimsy excuses of human right abuses. Even those who claimed deployment of specialised experts to search and rescue the Chibok girls did not only abandoned Nigeria and the victims to their fate, they joined in the global hate campaigns against the last administration. Yet they claim the successes of our military offensive was only boosted by foreign mercenaries even after the emergence of pictures and videos of dexterity, sophistication and courage of Nigerian troops in their fight against terror and rescue efforts in freeing abducted people, especially women and children. It is a pride to Nigeria as a nation that even without ‘coalition airstrike’ from powerful countries similar to that being witnessed in Syria, Yemen and Iraq, the Nigerian military has effectively destroyed most of the terrorists training camps, while rescuing thousands of abducted victims from captivity. The BringBackOurGirls movement, which is instrumental in mobilising citizens and the media through organised rallies against the abductions of Chibok girls, should go further in highlighting the plight of other abducted citizens, internally displaced persons and the ruined communities that require freedom and rehabilitation. Shuaib wrote from Abuja via yashuaib@yahoo.com

Why people enjoy the pain of being used SANDRA AKUOMA

e have been told martyr complex which is a flawed personality. Normally it is okay to be helpful to others; the problem is that those with MC tend to do it at their own detriment. My focus in this piece is the causes of martyr complex. Early responsibilities at childhood: If at an early age you were given too much responsibilities like helping out your parents not financially capable, or facing the prospect of absentee parents, especially an absent father who is a drunk and never took responsibility for the upkeep of the home; or maybe your mum had to work full time to support the family or she was absent as well due to health issues or death; the burden then fell on you even as a child to sacrifice your childhood, fun and leisure by looking after your siblings, or looking for a job at a young age. In a nutshell, generally you are compelled to behave like a responsible adult. This could have made you become resolute beyond your years. It also reinforced the conviction that you should be serving and catering to the needs of others, while repressing your own. Watching a parent being a martyr while growing up As a child you learnt to be a martyr while growing up from a parent, most times your mum. She made a lot of sacrifices for the family and was verbally and

SOMETIMES, GUILT KEEPS US LOCKED IN AN UNHEALTHY SITUATION physically abused by your father; she tried keeping the family intact by putting up with this bad behaviour, for example absorbing the blows herself from your father. Since your mother was never happy, she lived her life through you and your siblings so she could find some peace and happiness through the experience of her kids. Most times to please your mum you learnt to put her needs first before yours, your needs were secondary; you did that by repressing your own desires and behaved passively towards authority. Whenever you tried to contradict your mum by asserting your personality, your mum saw it as a sign of betrayal and made you feel guilty by repeating the so called mantra “Is this what I deserve after all I have done for you?” Neediness On a deeper level, martyrs are very needy for love. Unfortunately, they unconsciously believe that the only way they can get love is through suffering. The suffering makes them feel special and wanted, and it brings meaning to their life. Their suffering is tied to their ego. They are actually proud of it. Take

away their suffering and they seem lost. Self Esteem issues Someone that is suffering from martyr Complex looks for validation outside of themselves, and always wanting to please everyone – friends, family members, partners - so they will be accepted and valued by the others. Remember a martyr might seem selfless with his/her action, but there is always something they want back - acceptance, love and validation for their sacrifice. Loneliness A martyr will put up with all sorts because of the fear of being alone; they will love to help people with their problems and people end up using them and only call when they are needed. The martyr is fully aware of this as he/she complains most times to people that they feel used but because they do not want to lose these fake friends and be alone, they still remain in that situation. Fear of change and unknown Most people with MC have a strange fear of the unknown; because of this feeling they will put up with anything just to maintain the status quo. Like women or men who are suffering for physical abuse in their relationships/home the thought of leaving the significant other only brings about great fear. They have a motto they live by: “Better the devil you know than the saint you don’t know”. Guilt Sometimes, guilt keeps us locked in

an unhealthy situation. Let’s say you are a caregiver and your sole responsibility is to take care of the people around you. Once you start thinking about yourself or wanting to take care of your own needs, you start feeling bad and guilty about it. You keep having the thought ”you don’t deserve to be happy and enjoy the little pleasures” why because you feel responsible for someone whose needs has not all been met. So, guilt keeps you stuck in the situation. Food for thought: “Women are taught that their main goal in life is to serve others--first men, and later, children. This prescription leads to enormous problems, for it is supposed to be carried out as if women did not have needs of their own, as if one could serve others without simultaneously attending to one’s own interests and desires. Carried to its perfection, it produces the martyr syndrome or the smothering wife and mother” - Jean Baker Miller. Akuoma wrote from Lagos via sanlifepointers@hotmail.com and can be reached via 0181 558 3876 (SMS ONLY) Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: mail@ nationalmirroronline.net mirrorlagos@ yahoo.com or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.

Editorial

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

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

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

The Onitsha fuel tanker tragedy

enator-elect for Anambra Central Senatorial Zone, Mrs. Uche Ekwunife, was right when, while condoling the families of victims of the recent fuel tanker fire in Onitsha, a strategic commercial town in Anambra State, she stated that it is unfortunate that we continue to lose our loved ones in such careless and avoidable situations. It doesn’t matter that Ekwunife did not elaborate on what she meant by “careless and avoidable situations”. The tragic incident initially claimed the lives of between 55 and 69 people. Tragedy, according to eyewitness account, struck when an oil-bearing tanker lost control, crashed into a building located very close to the Asaba Motor Park on Upper Iweka Road and exploded in the process, torching about 15 buses of various types at the park and killing scores of people within the vicinity. Many of the casualties were reportedly burnt beyond recognition. Mr. Willie Obiano, the Anambra State governor, was said to have wept when he visited the scene of the disaster shortly after the accident. Incidentally, the oil tanker fire incident occurred less than four months after a similar one in the same Onitsha. In February this year, Obiano wore a blank look at Ward 3 of the Onitsha General Hospital, when he visited survi-

vors of an earlier tragedy. A trailer that had brake failure rammed into a tricycle and some other vehicles along Awka Road, Onitsha, killing one victim on the spot and fatally injuring four others. During his hospital visit, Obiano promised to offset the medical bills of the survivors; and he also vowed his administration’s determination to ensure that all vehicles not roadworthy were stopped from plying Anambra State roads in order to forestall avoidable crashes. Onitsha, like many commercial centres in the country, is one place where lawlessness thrives to a ridiculous extent. It is, perhaps, worse in the management of commercial transportation. Motor parks and markets are located quite close to major roads without any sign of the enforcement of speed limits even around such facilities. Operators of mini commercial buses and commercial motorcyclists constitute a major eyesore. They operate in the most reckless manner possible, while law enforcement agencies, official tax collectors and sundry touts appear more interested in what pecuniary gains they make from such errant road users than enforcing the law. Added to the development is the reckless manner with which virtually all commercial drivers and their tanker and truck colleagues conduct themselves while

MOTOR PARKS AND MARKETS ARE LOCATED QUITE CLOSE TO MAJOR ROADS WITHOUT ANY SIGN OF THE ENFORCEMENT OF SPEED LIMITS EVEN AROUND SUCH FACILITIES

on the wheel. Their speed is scarcely restrained, while many drive under the spell of alcohol. Like Governor Obiano and other stakeholders have indicated, too, many vehicles on long distance or local operations are truly not roadworthy. Yet they assault Nigerian roads with impunity. Onitsha is, however, one town that enjoys the generous presence of the Federal Road Safety Commission (FRSC), as can be gleaned from the Niger Bridge end while leaving or entering the commercial town. The same goes for other traffic regulation agencies, including the police. It is shocking, therefore, that despite the purported work being done by all the aforementioned agencies, the abuse of traffic regulations and roads in Onitsha continues to thrive. Truly, the latest oil tanker tragedy could be linked partly with carelessness on the sides of both the authorities that failed woefully to

ON THIS DAY June 8, 1967 The USS Liberty incident occurred, killing 34 people and injuring 171 others. It was an attack on a United States’ Navy technical research ship, USS Liberty, by an Israeli Air Force jet fighter aircraft and Israeli Navy torpedo boats during the ‘Six-Day War’. Both the Israeli and US governments conducted inquiries and issued reports that concluded the attack was a mistake due to Israeli confusion about the identity of the USS Liberty.

Letters tothe theEditor Editor Letters to

June 8, 1992 The first World Oceans Day was celebrated, coinciding with the Earth Summit held in Rio de Janeiro, Brazil. Officially recognized by the United Nations in 2008, the World Oceans Day is an opportunity every year to honor the world’s oceans, celebrate the products oceans provide, such as seafood, as well as marine life itself for aquariums, pets, sea-lanes for international trade, etc.

enforce road safety laws, like regulating speed and insisting on the road-worthiness of vehicles, on the one hand; and reckless driving in disregard of other road users and vehicle condition by drivers; on the other. Perhaps, plugging such obvious loopholes would have averted the situation. Therefore, Governor Obiano and his government should explore how best to work in concert with the aforementioned agencies in his search for solutions to repeated carnage on Onitsha roads. By-laws can also be made to restrict the movement of oil tankers in, around and out of Onitsha during busy hours of the day. The tragedy also draws attention to the challenge of making the nation’s railways work, since the rail is best suited for the bulk transportation of refined petroleum products across the country in the absence of functional oil pipelines, as was the case in the past. With the rehabilitation and expansion of rail transportation, the lifting of petroleum products would be made cheaper, safer, easier, less distressing and inconveniencing to other road users. Oil tanker-related accidents and the waste of lives would also be reduced to the barest minimum; while the nation’s already decrepit roads would be saved from further deterioration. This is crucial a challenge for the federal and state governments.

x June 8, 2009 Two American journalists, Euna Lee and Laura Ling, were found guilty of illegally entering North Korea and sentenced to 12 years of penal labour. They were working for the United States’ independent cable television network Current TV (defunct since August 2013), after they crossed into North Korea from the People’s Republic of China without a visa. They were found guilty of illegal entry.

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Business Courage

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

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Real Sector:

Operators, experts seek adequate That the country’s real sector which ought to form the main driving force and the engine of economic growth and development is facing serious challenge is not in doubt. Even though the past administration had introduced intervention programmes aimed at reviving the sector with little impact, Adejuwon Osunnuyi reports that with new government in charge expectations are high policies that would pull the real sector out of the woods are put in place

s Nigerians welcome the new government, if there is any major area many are expecting the Muhammad Buhari-led administration to pay serious attention to, obviously, it is the real sector. It is evident that the capability of the sector contends with several factors. Comprising agriculture, manufacturing, building and construction, and services, the real sector is where goods and services are produced through the combined utilisation of raw materials and other production factors such as labour, land and capital. It therefore forms the anchor of economic growth of a country. Specifically, the sector is important for many reasons. While the sector produces and distributes the tangible goods and services required to satisfy aggregate demand in the economy, its performance is a gauge or an indirect measure of the standard of living of the people. Also, the performance of the sector is used in assessing the effectiveness of macroeconomic policies. According to the Nigerian Chamber of Commerce, and Industry, in the last two years, about

800 manufacturing companies were shut down. High bank interest’ rates and inadequate financing and infrastructure were cited as some of the reasons the companies closed shop as many of those still operating are afflicted with serious challenges and many classified as ‘ailing.’ For instance, the high exchange rate, which has pushed up cost of raw materials, has left a sour taste in the mouth of the Group Managing Director (GMD/CEO) of Greengates Group, Mr. Charles Onyenekwe. The multinational company, with headquarters in Nigeria, involved in manufacturing and industrial packaging, has been forced to stop operations. According to Onyenekwe, the expatriates have all returned to India, a development he said has truncated the company’s expansion plan. The crest-fallen manufacturer disclosed that he has already concluded arrangements to travel overseas to make a case before his company’s foreign partner-financiers for possible debts rescheduling. Although, he did not disclose the size of the debt, he said: “We borrowed heavily from overseas to fund our operations, but because of the

Yusuf

Bassey Edem, NACCIMA President

crisis occasioned by the devaluation of the naira, I have to travel this week to make a presentation for a possible rescheduling of our debts.” With its operational bases in the emerging markets of Africa, Asia and the Middle-East, Greengates group boasts of six subsidiaries with a range of services covering banking, funds management, stock broking, real estate, food and chemical manufacturing and industrial packaging. Before the unfortunately prevailing economic situation forced it to pull the brake, the company had concluded plans to float additional seven subsidiaries. But that would not happen. Experts have identified

various reasons affecting the sorry state of the real sector. According to Director-General of Lagos Chamber Commerce and Industry, LCCI, Muda Yusuf, the low output of the sector is due to policy somersault, multiple taxation, inconsistent power supply and illegal importation of goods into the country. “These issues have lingered for so long and something has to be done to check them and rebound the industries,” Yusuf said. Speaking with Business Courage an industrialist, Bello Oladejo,who lamented that the manufacturing sector contributed only four per cent to the country’s GDP, said identified constraints to

the sector, which include power, vocational skills, other critical infrastructure and inappropriate tariff regime be addressed. “I am pleased to note that government is taking steps to address these issues, and if these are implemented with diligence, then the bottlenecks facing manufacturing will be removed and banks can finally grow loans to manufacturing at favourable rates of interest and without undue risk,” he said. While admitting that government alone could not solve Nigeria’s infrastructural challenges, Oladejo said government has the responsibility to provide incentives to investors and create an environment that would

boost investment in power and other infrastructure. It would be recalled that a short while ago, former Minister of state for Finance, Yerima Ngama had decried the country’s Deposit Money Banks ,DMBs, for not impacting positively on the economy, in spite of the significant support and incentives extended to them by the government. DMBs are banks that have any liabilities in the form of deposits payable on demand, transferable by cheque, or otherwise usable for making payments. Ngama had noted that DMBs must review their strategies and adopt new business models that would reverse the ugly trends of high lending rates and massive turnover of professionals from the banking sector. He frowned at the banks for contributing little to the Gross National Product, GNP and encouraging high interUDO ONYEKA, CO-ORDINATOR BUSINESS COURAGE udonyeka@gmail.com c

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Monday, June 8, 2015

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infrastructure, lower interest rates

Ngama

est rates on lending, saying this has made credits inaccessible to small and medium enterprises, farmers, and manufacturers. Rather than lend to the real sector and farmers, the former minister noted that the banks have continued to show preference to financing short-term import trade, thereby contributing to the crisis in the real sector and the volatility of the foreign exchange market. “This cannot be sustained and it is therefore necessary for us to review our business model to ensure that the banking industry takes its rightful place in financing the vital sectors of the economy,” he said. According to him, the trend of lending by the banks showed that out of a total of about N6.42 trillion and N7.18 trillion loans and advances from the banking industry as at December 2011 and June 2012 respectively, contributions to agriculture received marginal 3.35 per cent and 3.45 per cent, while power and energy sector got a paltry 0.39 per cent and 0.81 per cent during the same

period. He pointed out that with general commerce and importation of petroleum products maintaining a steady lead over the years, the banks have indirectly lend themselves to supporting the productive base and capacity of other countries to the detriment of the country. “Since 1989 the government, through the Central Bank of Nigeria, CBN, and the Nigeria Deposit Insurance Corporation, has intervened to save the banking industry. In fact, the banking industry is the most protected in Nigeria,” the minister said. Mr. Ngama identified pricing of loans and advances being promoted by the banking sector as other factors affecting the country’s economic growth. He said the prohibitive interest rates of about 20 – 25 per cent charged on loans have remained a great disincentive to productive activities and that banks have become obsessed with import financing which exposes the country’s local currency to further pressure. Interestingly, the gov-

Hunsu

ernment under the leadership of former President Goodluck Jonathan had introduced some intervention schemes to aid the sector, but much was not achieved, as many could not access the fund, due to stringent rules by the DMBs who are meant to disburse the fund. Irked by the situation in which government’s interventions have had little impact on the economy, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, conducted a survey and found that only six per cent of industrialists accessed the funds. Some of the intervention funds include the N200bn Small and Medium Guarantee Scheme, N200bn Restructuring and Refinancing Facility Scheme, N10.71bn Commercial Agriculture Credit Guarantee Scheme to six banks by the Central Bank of Nigeria. Also on the long list of intervention funds, are N100bn textile industry bailouts, N330m grants to assist 20,000 farmers in Lagos state. Similarly, in November, 2012, the Federal

Government, in collaboration with the Central Bank of Nigeria, disbursed a soft loan worth N9.4m to members of the Nigeria Cassava Growers Association, Nasarawa State chapter. As at July 2011, the Bank of Industry had reportedly disbursed N195bn out of the N200bn meant for the refinancing of the manufacturing sector to 518 companies across the six geo-political zones. The CBN, through its Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, had approved a take-off grant of N75bn to boost agriculture businesses. The Head, Project Implementation of NIRSAL, CBN, Mr. Jude Uzonwanne, reportedly said N45bn from the N75bn had been set aside as loans to the farmers, while the balance would be used to train and insure them. According to NACCIMA, the intervention funds were faced with the problem of accessibility. For instance, despite the Federal Government’s N100bn textile bailout fund, less than 25 per

cent of textile manufacturers were operating above 50 per cent capacity utilisation. Also speaking on the same development, Oladele Hunsu, the President, Nigerian Union of Textile and Garment Workers of Nigeria, said the Federal Government’s N100 billion intervention fund had not revived the textile industry. To him, the textile industry had not been revived due to policy somersaults and poor infrastructure. “Only a few textile industries across the country like the UNTL in Kaduna and some other popular ones have accessed the fund. “Unfortunately, some others that are trying to access the funds cannot due to the new policies regarding importation of textile products.” He said. Hunsu said that many manufacturing companies had turned their factories to warehouses because the textile sector had not experienced the desired change. “Some textile manufacturers have resorted to importing ready-made textile materials from Asia and other countries.

While some materials are original; some are fake. “Also, smuggling of banned textile industries has choked the markets and discouraged potential manufacturers.” He added. Interestingly, N300bn Real Sector Support Facility, RSSF to support large enterprises for start-ups as well as expansion financing needs of N500m, up to a maximum of N10bn, is yet to be accessed. The CBN which recently said it is yet to commence disbursement of the facility noted that appraisal of the applications by SMEs for the N300bn RSS facility was still in progress in strict compliance with the eligibility criteria of the facility. According to CBN, as soon as the appraisals are concluded recommendations would be made to management of the Bank for approval and subsequent disbursement as applicants for the RSSF were urged to exercise a little patience to enable the Bank conclude the appraisals and to disregard speculations. The bank noted that the policy objectives of the facility was to provide long term and low interest financing intervention in support of the real sector of the Nigerian economy as the intervention would increase output, create jobs and conserve foreign exchange. While the real sector activities targeted by the facility are manufacturing, agricultural value chain and selected service sub-sectors, presently, over 200 had applied for the RSSF fund. Industry watchers said the new president and other leaders must give more attention to the manufacturing sector by reducing the cost of doing business, checking multiple taxation and developing local raw materials to prevent incessant import of inputs that has now created more problems for the economy. Nigeria, they said, should tackle, head on, the dilapidated nature of our infrastructure, especially roads. BC

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News African govts urged to invest in sustainable infrastructure

The Executive Director, LEAP Africa, Iyadunni Olubode, said the forum was meant to assist SMEs to overcome crucial risk factors in the challenging economic environment. She said the organisation was partnering with Sterling Bank to bring experts to talk on risk management practices for SMEs. The forum, she added, would provide cutting-edge solutions and best practices that would enable SMEs to deal with risks in the nation’s political and economic environment.

By Udo Onyeka

frican Development Bank, AfDB, has money coming from donors and governments has not been sufficient to fill the huge infrastructure gap in Africa. As a result, the financial institution has called on African governments to look at innovative ways to finance the infrastructure gap, including engaging in more public-private partnerships, PPPs. This was the overriding message conveyed during a panel discussion on “Financing Infrastructure – Raising the bar” that took place on recently at the African Development Bank’s Annual Meetings in Abidjan. Acting Vice-President and Chief Economist, AfDB, Steve Kayizzi-Mugerwa, said governments can do more to finance their own infrastructures, through taxation, for instance; and to make sure that the infrastructure built is effective and well maintained; and to ensure that people, especially in the rural areas, benefit from these developments. “We often think of global, regional infrastructure that opens up borders, which is very good. But we need to think local as well,” said KayizziMugerwa, adding that more emphasis needs to be placed on urban development, particularly what goes underground, as the urban infrastructure often does not take into account the impact of building upon the drainage, sewage systems, water systems. “In a lot of cities in Africa today, Abidjan included, when you have one day’s heavy rain, everything’s flooded. That never used to be the case. It’s a new phenomenon.” If African cities are to be places of advancement, this infrastructure needs to be revisited, he said. In her contribution, Director of Africa50, Neside Tas Anvaripour, said Africa needs $100bn for infrastructure, and power

Kayizzi-Mugerwa

L-R: Managing Director/CEO, Fidelity Bank Plc. Mr. Nmadi Okonkwo, Mrs. Mayen Adetiba; former Director General, Nigerian Stock Exchange, Mrs. Ndi Okereke Onyiuke; Chief Mrs. Nike Akande and the former MD/CEO, Fidelity Bank, Mr. Reginald Ihejiayi, at the service of songs for the late Mrs. Lolo Rose Ijeoma Ezeh, held at Muson Center in Lagos

alone takes about 40 percent of the investments in infrastructure. “The AfDB has supported 49 public-private partnerships, PPP, in the power sector, and the way to go in infrastructure development is the private sector,” she said. She also argued that the continent’s infrastructure challenges are not just a matter of financing gap, but about project preparation.

FDC calls for fuel subsidy removal

he Financial Derivatives Company Limited, FDC, has asked government to consider removal of fuel subsidy as a way to stabilise the Naira. The company believed that such step would further reduce pressure of the exchange rate of the local currency and lead to long term appreciation of the national currency. It observed that already there is an inflated import bill due to scam associated with the subsidy regime and stated that the subsidy removal will reduce the pressure on the currency and the naira will appreciate in the medium term. Experts at the company noted that removal of fuel subsidy will produce short term gain but long term gain pointing that subsidies are reverse taxes and if removed will reduce the disposable income of consumers in the short term but will certainly result in an efficient redistribution in income, spur a rehabilitation of the refineries and an efficient oil industry in the long run; short term pain but long term gain. In its recent bulletin titled, “Petroleum Subsidy Scam: The Raping of Nigeria”, the FDC stated that “The benefits asso-

ciated with a subsidy removal are usually long term which will be solely determined by how the appropriated subsidy funds will be utilized to support optimal productivity within the economy. “If the subsidy were removed today, the pump price would jump to approximately N130, which is the total open market price when one considers both the landing cost of petrol at N115.77 and the margin for transporters and exporters of N15.49 as of May 10, 2015. However, the pump price would be guided solely by global oil prices and would not be at the mercy of oil marketers. Currently, scarcity initiated by the oil marketers due to delayed payments increased the pump price of petrol. The scarcity created an avenue for arbitrage, with the fuel being sold for as high as N600/ liter in the black market. The impact of the strike and fuel scarcity was severe, and almost crippled economic activities, as banks and even telecom operators had to reduce their operating hours due to the scarcity of petroleum products.

Sterling Bank, LEAP Africa support SMEs

terling Bank Plc and LEAP Africa, a leadership development organisation, will join key industry leaders and risk management experts to lead discussions on risk management strategies for Small and Medium Enterprises, SMEs in Lagos this week. Chief Financial Officer, Sterling Bank, Mr. Abubakar Suleiman made this known at a news conference in Lagos. He said over 800 SMEs were

Yemi Adeola, Sterling Bank MD

expected to attend the 10th edition of the LEAP Africa’s CEO Forum for SMEs. The forum, tagged ‘Staying Ahead: Maximising profit and mitigating risks’, the Sterling Bank ED explained, would help operators to understand inherent risks that could lead to the sudden collapse of their businesses. He said the bank believes SMEs makes significant contribution to economic growth and this informed its decision to partner with LEAP Africa on the conference. “The conference has to do with how we can help SMEs to deal with risk factors that impact their businesses negatively. Many of us know how the recent devaluation of the naira affected several SMEs. Aside this, factors like information management can also affect SMEs. These are little things that can cause big issues for SMEs. “At Sterling Bank, we always ask ourselves what benefits any programme we decide to partner on will bring to participants. Once we know it will benefit the environment and the economy, we go ahead. This is why we have decided to partner LEAP Africa on this conference”, Suleiman said.

Climate change threat to investments – Report A new study released last weekend by International Finance Corporation, IFC, a member of the World Bank Group, and Mercer shows that implications of climate change pose serious risks for investors. According to the report integrating climate risks into investment strategies can help with investor return outcomes due to greater awareness of exposure to climate -sensitive sectors and asset classes. The study, “Investing in a time of climate change,” led by Mercer and supported by IFC, in partnership with the Federal Ministry for Economic Cooperation and Development, Germany and the UK Department for International Development, DFID, is an update to a 2011 report. “This new study led by Mercer could not be more timely on the road to the UN climate conference in Paris,” said IFC Director for Climate Change, Christian Grossman, “The study can help investors address uncertainty by guiding them on assessing their exposure to climate risk and improve the resilience of their portfolios. It can also send a clear message to policy-makers that resolving the uncertainty around the policy direction of carbon pricing will be an important first step toward transitioning to a low carbon economy,” he concluded. The study warns the investors not to expect that the future will mirror the past, particularly at a time when economic growth is heavily reliant on an energy sector powered by fossil fuels. It cautions the investors that impact on returns from climate change are inevitable – irrespective of which climate scenario -- 2 or 4 degree -- unfolds. The new research also points to opportunities for investors in an economy that would transition to a 2 degree low carbon scenario, laying out the fact that this scenario would not

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dard and non-certified products. She advocated an all-inclusive effort to overcome the health challenges posed by substandard and non-certified products in Nigeria.

jeopardize financial returns for long-term diversified investors. Chair of Mercer’s Responsible Investment team, Jane Ambachtsheer, said, “Whilst it is challenging, we have attempted to quantify the potential investment impacts of climate change. We recognise that markets do not always price in change; they are notoriously poor at anticipating incremental structural change and long-term downside risk until it is upon us.”

Fashola paid N33.5bn to retirees under CPS –LASPEC

L-R: Farrah Brake, Manager, Middle East & Africa, The Asian Banker, Dubai; Kingsley Umadia, Executive Director, Ecobank Nigeria Ltd displaying the Best Remittance Product in Africa Award won by Ecobank and Philippe Paillart, Director, International Resource, The Asian Banker, during The Asian Banker’s 2nd Annual Middle East and Africa Awards in Dubai, UAE

Grossmann

Rotary Idi-Araba mourns Ogundipe By David Audu

he entire members of the Rotary Club of Idi Araba have expressed immense sadness and shock over the death of their Chapter President, Prof. Oluyinka Ogundipe. Ogundipe, who nurtured the Rotary Club of Idi-Araba until it was chartered in 1987 died Saturday May 23, 2015. He was the Charter President and had since remained a mentor to the Club. According to the former Chapter President/President of Outdoor Advertising Association of Nigeria-OAAN, Charles Chijide, even when he relocated to the Middle-East for a couple of years, the late Rotarian returned to the country and came back to the Club, where he remained active until he passed on fortnight ago. In a condolence message to the members of the club, Chijide conveyed the sympathy and solidarity of the advertising community as they mourned the late humanitarian. “I write to commiserate with you, the Rotary club of Idi-Araba and the family of Professor Oluyinka Ogundipe on the death of one of the greatest patrons of service to humanity. He will be sorely missed by all who cherish and love selfless service to human race.” He added that Ogundipe served as a source of inspiration to the oppressed peoples in Nigeria and particularly Lagos and would always be remembered and honoured by all mankind.

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According to the President of West Africa Outdoor Advertising-Chijide, Ogundipe’s funeral arrangements would be announced by the family.

Nigeria retains its opec presidency seat By Gbenga Odogun

igeria still retains its seat as the President of the Organisation of Petroleum Exporting Countries, OPEC, a competent official of the Nigerian National Petroleum Corporation ,NNPC, has said in Abuja last week. The official, who preferred anonymity, said the exit of the former Minister Petroleum Resources, Mrs Diezani AlisonMadueke, had nothing to do with the status of Nigeria as the President of the organisation. The official said the position would be filled after the appointment of a new Minister of Petroleum by the president. The official said the former minister was elected at the 166th General Meeting of the OPEC, not in her own capacity but to represent Nigeria. Alison-Madueke was elected the president of the international oil body on Nov. 27, 2014 but started to function in the office in January 2015. The president of OPEC, according to the official, is expected to serve for a period of one year and to preside over the meetings of the conference in the course of that presidency. OPEC, the source says, has Alternate President who exercises the responsibilities of the President during an absence, or when the incumbent s unable to carry out the responsibilities.

Substandard products: Dettol, NMA strengthen partnership on consumer education By Adejuwon Osunnuyi

n furtherance of its commitment to consumer safety and protection Dettol, antiseptic brand from the stables of RB Nigeria Limited has further strengthened its partnership with the Nigerian Medical Association ,NMA, on consumer awareness and education on the harmful effects of purchase and usage of substandard products. To this end, Dettol was at the forefront of the renewed consumer awareness of the adverse effects of substandard and uncertified products on human health during the just concluded NMA’s 55th Annual General Conference held in Ibadan, the Oyo State capital. Speaking on the subject matter which is also one of the latest cause-led initiatives by Dettol brand to promote a healthier society, the Marketing Director, RB West Africa, Oguzhan Silivrili, said Dettol was most delighted to strengthen

Silivrili

its long standing partnership with NMA for the furtherance of efforts to promote the safety of consumers as well as good health among Nigerians. He said Dettol has been partnering consistently with statutory bodies in the health sector including the NMA, Ministry of Health, NAFDAC ,National Agency for Food and Drug Administration and Control and local governments to educate consumers on the best hygiene practices and to contribute to the health and wellbeing of families in Nigeria for the past 50 years. Silivrili said Dettol’s on-going campaign was focused on educating more Nigerian families on the need for gold standard protection against germs. “We see in markets newly introduced substandard, non-certified antiseptic and mainly imported products that do not deliver the optimum germ killing benefit to the Nigerian families”, he maintained. He warned that the inherent risk and cost of repairing the damage caused by substandard products are usually enormous in the long run. According to him, ‘‘you cannot take the risk with your loved ones because at the end of the day, half protection is no protection. ‘‘Low price is not enough good reason to buy substandard solutions. Cheap products might not always be a better option considering the risk that some of the consumers are taking. Dettol is 10 times better in killing germs compared to other brands in the market and is the only proven brand killing 100 illness causing germs.” In a presentation on behalf of Dettol at one of the scientific sessions, Member, Global Hygiene Council, Dr. Nneoma Idika, commended the Dettol brand for the initiative geared towards protecting families from the harmful effects of substan-

he Lagos State Pension Commission (LASPEC) said the previous administration in Lagos State, led by Mr. Babatunde Raji Fashola, paid N33.5 billion to retirees under the Contributory Pension Scheme (CPS) in the state. The Director-General, LASPEC, Mr. Rotimi Adekunle Hussain, who disclosed this during the 17th Retirement Bond Certificate presentation ceremony in which another set of 296 retirees were presented with bond certificates that is worth N1.3 billion, being their past service benefits prior to the commencement of CPS in April, 2007 said, Fashola left behind a worth legacy in the operation of the new pension scheme in the state and the country in general. Hussain said the out-gone administration has, within its eight years in office, paid a sum of N33.5 billion to 6,441 workers who retired from the State Public Service under the CPS. The 17th bond certificate presentation ceremony, which according to the LASPEC boss, was marked without the usual fanfare, started on Tuesday 19th and ended on Thursday 21st May, 2015. Hussain said the retirees with Stanbic IBTC Pension Fund Administrator were presented their bond certificates on Tuesday; those with Trustfund, ARM, NLPC and Leadway Pensure got theirs on fortnight Wednesday, while the retirees with Crusader Sterling Pension Fund Administrator were presented their bond certificates fortnight Thursday in the premises of the commission. While advising the retirees on how to conduct themselves in retirement, he urged them to avoid spending their retirement benefits on frivolities, saying, unnecessary spending and elaborate social engagements should be curtailed in retirement. He also encouraged them not to venture into businesses they are unfamiliar with, urging them not to be cajoled by swindlers who will come to them with several business ideas with a view to luring them into unscrupulous businesses. The LASPEC boss expressed optimism and confidence that the laudable achievements of Mr. Babatunde Raji Fashola’s administration in the CPS will be consolidated upon by the current administration of Mr. Akinwunmi Ambode. BC

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Companies & Markets

Seplat to boost investment in gas infrastructure

First Bank supports LEAP Africa 10th CEO forum S Stories by Udo Onyeka

irst Bank of Nigeria Limited, one of Nigeria’s most valuable bank brands has said it is supporting and participating in the LEAP Africa 10th CEO Forum in line with the Bank’s corporate responsibility and sustainability programme. The forum is a platform for interaction, knowledge sharing and partnerships between Small and Medium Enterprises, SMEs and leading private and

Bisi Onasanya, First Bank MD

public sector organisations who offer cutting-edge solutions that aid growth, development and sustainability of businesses in Nigeria. This year’s conference is scheduled for June 9, 2015 and is themed, Staying Ahead: Maximizing Profits and Mitigating Risks. “The Bank’s sponsorship of the LEAP Africa CEO forum is another intervention to boost capacity and foster the growth and development of small and medium scale businesses in Nigeria. The Forum would expose business owners to the importance of succession planning, instituting effective systems, structures and ethical leadership within their organizations to ensure long term sustainability”, a statement said. As part of its commitment to nation building and economic development, FirstBank launched the SMEConnect engagement programme in 2013 geared towards building the capacity of SMEs to deliver business goals and contribute more significantly to national development. The Bank’s SME Seminar Series, themed “We can help with that” is part of this engagement, with focus on providing

practical help on relevant challenges faced by small businesses such as capacity building, business plan writing, marketing products and services, as well as accessing bank loans and documentation, amongst other curriculum. According to the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake AniMumuney, SMEs are a critical aspect of the nation’s economy and holds the key to sustainable development and our long term survival as a nation. “FirstBank is committed to nation building, and the SME market is one of our strategic platforms to stimulate economic development”, she stated. Other activities that mirror FirstBank’s commitment to SMEs include African Start-Up, the sponsored TV documentary on CNN showcasing SME success stories across Africa; Ignite ,an afterschool graduate employability and enterprise training initiative); and constant social media engagement. The Bank also has a dedicated website for SMEs at www.firstbanknigeria.com/smeconnect which is at the heart of all FirstBank’s SME activities. BC

Diamond Bank launches Y’ello Debit Card at WEF

iamond Bank Plc has said it would issue MasterCard debit cards to millions of Diamond Y’ello account holders in a move to expand financial inclusion and reduce cash-based transactions in the economy. The scheme, according to a statement by the lender at the 25th World Economic Forum on Africa in Cape Town, South Africa, is targeted at ensuring that interested Diamond Y’ello account holders are issued with debit cards that will give them unhindered access to services and their funds at automated teller machines across the country. According to Diamond Bank’s Chief Executive Officer, Uzoma Dozie, the launch of the Diamond Y’ello debit card is timely and aligns with the cashless policy of the Central Bank of Nigeria, CBN. He said millions of Diamond Y’ello account holders of the bank will have access to the Bank’s services while still enjoying the financial transaction freedom that are now available to the Bank’s numerous customers. ‘’With the introduction of this card, Diamond Bank has raised the bar for cashless

Dozie

banking in Nigeria’s financial services sub-sector. As you know, the card automatically grants account holders unlimited access to their funds and other financial transactions and also provide customers with additional interaction channels besides the agent locations. I think it is the biggest thing that has happened in the industry after the launch of the Fingerprint authentication feature on our Mobile app.” Further, Dozie said a core component of Diamond Bank’s strategic focus is to ensure the enhancement of the freedom of the financial lifestyle of the

unbanked and under-banked by providing convenient banking services and multiple payment channels via the web and the POS, pointing that the Diamond Y’ello debit card will act as a physical link to this unique type of “account you open without documentations and other rigours associated with traditional accounts”. It would be recalled that in 2014, Diamond Bank launched the Diamond Y’ello account into the Nigerian market as part of its financial inclusion programme to reach the unbanked. Diamond Y’ello account, which was introduced in partnership with the mobile telecommunications giant, MTN, is a fully mobile hybrid account that offers the over 55 million subscribers on MTN Nigeria network a fusion of financial services and telecoms incentives. Every MTN subscriber has access to a Diamond Y’ello account. Benefits include easy access to Diamond Y’ello account holders’ community, full banking services with interest payments on account balances and access to loans via application from the subscriber’s mobile device on demand. BC

eplat Petroleum Development Company is considering significant investment in gas processing and delivery infrastructure to raise output. The company projects to tripple its gas production by end of 2016 after achieving 99 million standard cubic feet per day production in 2013. Seplat chairman Dr. Ambrose Orjiakor disclosed that the company recorded a 5 percent rise in gas revenue in 2014. “We see the commercialisation and monetisation of Nigeria’s natural gas resource as an attractive long-term opportunity as we seek to go beyond our domestic obligations by selling to commercial ventures in Nigeria, such as power generation plants,” Orjiakor said. He noted that pursuant to the country’s Gas Master Plan 2008, Nigeria is currently undergoing significant changes in the domestic gas pricing environment which has resulted in increased gas demand and im-

proving pricing dynamics. Orjiakor further added “We have made successful efforts in our gas development strategy by the expansion of our gas processing facility in Oben. This is against the back drop of the Nigerian gas to power transformation agenda which has occasioned increasing gas demand at good prices in the domestic market. Seplat will take advantage of this to boost revenue from gas in 2015 and in the coming years. BC

Orjiakor

Ecobank Rapid Transfer named best remittance product

cobank Rapid Transfer has been named the winner of the Best Remittance Product in Africa Award at The Asian Banker’s 2nd Annual Middle East and Africa Awards held at the Ritz Carlton, DIFC, Dubai, United Arab Emirate, UAE at the weekend. The Asian Banker provides information for the financial services industry in the form of publications, online materials such as e-newsletters, research, and conventions, and other industry gatherings. It is regarded as one of the Asian region’s leading consultancies in financial services research, benchmarking and intelligence Manager, Middle East & Africa, The Asian Banker, Farrah Brake, said the award identifies emerging best practices and outstanding achievements in retail financial services in the region. She stated that winners were selected after rigorous research. “The Excellence in Retail Financial Services Programme is run on a completely neutral basis and unfunded over a 2-3 month period, involving a team of researchers assessing financial institutions across Middle East and Africa.” Executive Director, South South/South East, Ecobank Nigeria, Kingsley Umadia, said the award was well deserved, as Ecobank has taken remittance business to higher level on the continent. “As a Bank, We are proud to offer the best in remittance product on the continent. We will continue to strive to remain the best and surpass customers’

expectations at all times.” He explained that Rapid Transfer, one of Ecobank’s Remittance products has achieved tremendous success in the African financial landscape. “This product is facilitating economic integration in the region by making available more accurate statistical data for realistic inter-regional policy decisions; through Rapid Transfer, we have progressively capture and migrated regional transactions from the informal sector to the formal sector and also provide a convenient, accessible, reliable and rapid payment solution for economic operators across the region.” Ecobank Nigeria’s Rapid Transfer service allows customers to send and receive transfers within five minutes from any of the bank’s locations. The service runs on dedicated and secure software and is robust enough to offer domestic as well as regional money transfers. It is supported by a strong operations team committed to providing fast, reliable and convenient service to customers. The service has seen a year on year ,YoY, growth of over 250 per cent over the last two years and caters to a broad range of clients, from small traders to travelers. The bank offers a competitive rate of conversion and customers do not need an account to send or receive remittances. Money can be transferred via multiple channels including Internet banking and ATMs. The service has eliminated the risk of carrying cash while travelling. BC

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Companies & Markets Mutual Benefits wins African Insurance award Stories by Udo Onyeka

utual Benefits Assurance Plc has won the prestigious African Insurance award organised by the African Reinsurance. The award ceremony, which took place in Tunis, Tunisia, saw the Assurance firm emerged victorious among three contenders for the award. Mutual Benefits won the prestigious ‘Innovation Company of the year Award’ for the use of technology, breakthrough in products/service delivery and innovative distribution channels/method introduced in the sale of insurance products to reach the grassroots. Speaking on the award, the Group Managing Director, Mutual Benefits Assurance Plc, Mr Akin Ogunbiyi, commended African Reinsurance for sponsoring the award, adding that the initiative will help to push the industry to relevance. He dedicated the award to the handiwork of its staff and the Nigerian insurance industry in general. Earlier, the Secretary General, African Insurance Organisation, AIO, Prisca Soraes said the award was developed to recognise achievers with re-

Ogunbiyi

gards to insurance practice, customer relations, product development, service delivery, risk management, market and geographical expansion and good corporate governance. She noted that the award will spur other players and practitioners to work towards achieving excellence, thereby, raising awareness on insurance in Africa. She added that sharing and dissemination of industry’s new successful and practical ideas can be a great tool to fast-track the development of insurance on the continent. The award saw the presentation of certificates, trophies and cash prize of $25,000 to the winners. BC

Lafarge bags CAC compliance award By Johnson Okanlawon

afarge Africa Plc has been awarded the Best Complying Company of the Year 2014 by the Corporate Affairs Commission.. A statement from the company said the award, which has to do with the extensive compliance requirements of the Companies and Allied matters Act and industry regulations by the Commission, and is in recognition of the company’s commitment to operating with the highest ethical standards. The statement quoted its the Chairman, CAC Board of Directors, Mr. Funso Lawal, as saying that the rationale for the award is to recognize performance and reward corporate excellence among companies operating in Nigeria, with the ultimate goal of improving the country’s rating in the global competitiveness index. To be eligible for consideration, it explained, companies must have complied with the requirements of the Companies and Allied Matters Act and respective industry statutes and regulations. It added that the companies must impact on their respective industries positively through credible performance in corporate social responsibility. The company was among 26

Royal Exchange Insurance settles N1.98bn claims in 2014

companies that made the final list from over 800 companies considered, with the building solutions company emerging as one of the eventual 9 winners. The former Minister for Commerce and Industry, Mr. Olusegun Aganga, who presented the awards to the recipients, encouraged others to imbibe the best practices of the winners. While thanking the regulatory agency for a well-deserved recognition, the Group Managing Director and Chief Executive Officer of Lafarge Africa, Mr. Guillaume Roux, said the company always ensures adherence to all legal and regulatory requirements for its activities everywhere it operates. “This is the way we operate and it is ingrained in our Principles of Actions to which every Lafarge employee is committed” Speaking further on the awards, he said ”the stringent criteria for nomination provide evidence of our drive to making a difference in our industry, communities and in Nigeria as a whole,” he said. The Corporate Citizens Award, which is open to all registered companies in Nigeria, is designed to recognize corporate citizens who have conducted their affairs in compliance with statutory requirements and best practices. BC

oyal Exchange General Insurance Company, REGIC, one of Nigeria’s foremost insurance underwriters with a focus on General and Special Risks, has paid out N1.976bn as claims settlements to its clients at the end of the year 2014. This was disclosed in Lagos, the Managing Director of REGIC, Mr. Richard Olutayo Borokini, who said that his company’s focus is the prompt settlement of genuine insurance claims. He said prompt settlement of genuine claims will continue to be the business philosophy of the company in years ahead, adding that the company will continue to support the business community as it strives to increase the manufacturing capacities of industries in the country. Borokini said Royal Exchange has once again demonstrated its strength and ability to honour its financial obligations and also protect the interest of its various corporate and individual clients, as there is a conscious effort to have a genuine partnership with the clients. He noted that the trust and integrity, core values which was instilled by the founders of the company would continued to

drive the operations and strategic directions of the company. “customer satisfaction is the fulcrum of insurance business and this inevitably builds customer loyalty. Once Royal Exchange is able to pay customers claims as they arise, more and more customers and the general public will have faith to take out insurance policies on their lives and properties because they are convinced that should a claim/ loss arise, Royal Exchange will be able to meet its financial obligations to its clients”, he said. Giving a breakdown of the various amounts paid in the different insurance classes, Mr. Borokini said a total of N639m was paid on Motor and Accident insurance policies account-

Borokini

ing for 32.37 percent of the N1.976bn paid out as claims, while N552m was paid out on Fire and Industrial All Risks ,IAR, policies, representing 26.4 percent of total claims paid and Special Risks insurance policies accounted for 25.9 per cent , amounting to N512m as claims. Other classes of insurance with claims payments include marine insurance policies with N212.2m paid out as claims, representing 10.7 percent, while Engineering Insurance policies resulted in total claims payment of N67.8m paid out, which is about 3.4 per cent of the claims paid to various cleints. Claims paid on other classes of insurance such as Bonds, Guarantees and other such classes of insurance accounted for N21m of the total claims paid in 2014. Speaking further on the import of the huge sums paid out in the last one year by Royal Exchange, the Managing Director of REGIC said “It is a testament to our enduring capacity to shoulder any form of risk and evidence of our financial depth derived from prudent and conservative accounting system, a highly motivated workforce as well as a professionally structured organisation”. BC

Mobile Payment: GT Bank, Etisalat target 55 million unbanked

uaranty Trust Bank, GT Bank and Mobile Communications firm, Etisalat are partnering to connect over 55 million unbanked Nigerians through mobile payment system. Through the mobile payment system, the low income Nigerians would be able to open a Tier 1 bank account, using their mobile phones. Speaking at the event announcing the partnership, the two firms said the initiative will drive financial inclusion in the country. The collaboration of the two companies led to the launch of GTEasySavers, a savings account that is easy to open and easy to save and designed to enable un-

Agbaje

derbanked and unbanked individuals achieve their financial goals, while operating a regular bank account, via their mobile phone. Head, eBusiness, GTBank, Mr. Bolaji Lawal, said financial documentation was responsible for the huge gap that exists between the banked and unbanked Nigerians, as many adult Nigerians are deprived of enjoying banking services. Explaining that the initiative of the two organisations would remove the barrier of documentation, he said the scheme would make it easy for Nigerians to own bank accounts via their mobile phones, without visiting the banks. Managing Director, GT Bank, Mr. Segun Agbaje, said his bank is passionate about driving the Central Bank of Nigeria ,CBN’s financial inclusion strategy in ensuring the under banked and unbanked begin to find the propositions of banking services more attractive and In the same vein, the Chief Executive Officer,CEO, Etisalat, Mr. Matthew Willsher, said: “This is a new chapter in the continuing growth of the banking industry,

made possible through GTEasy Savers by GTB and Etisalat Nigeria. Enabling account opening via an Etisalat phone will make it more convenient for individuals to carryout transactions, using the transformative power of the banking system.” He added that, “We will continue to offer innovative products and services in fulfilment of the promise we made to Nigeria over six years ago when we commence operations in the country. The partnership will also begin a journey for unbanked customers from our over 22 million subscriber base.” With this scheme, he said registered subscribers of Etisalat network can conveniently open a GTEasy Savers account by simply dialing a short codec *737*0# via their mobile phones and a ten digit GTBank account number is sent via SMS immediately. Funding of the account, he pointed out, can be done by cash deposits at Etisalat Experience Centres and GTBank branches, electronic transfers from other bank accounts, cash deposit Automated Tellers Machines (ATMs) at GTBank branches and GTB Express Agent locations. BC

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Business Courage

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Global News

Tsipras

Greece postpones IMF payment; snap elections possible

reece delayed repayment of an IMF loan on Friday and a deputy minister said Athens might call snap elections to break an impasse with lenders that threatens to push the country into bankruptcy and out of the euro. European stocks fell and Greek bond yields shot higher as investors worried that months of bitter negotiations between Greece and its international creditors might yet end in failure. Raising the stakes in the talks, Greece decided to postpone payment of the 300 million euro ,$338m loan - a highly unusual step, but one that does not yet signal a formal default. The surprise decision was taken on Thursday, just hours after Prime Minister Alexis Tsipras was presented with a tough compromise deal from lenders that crossed many of his “red lines”, including tax hikes, privatisations and pension reform. The offer is aimed at shoring up Greek state coffers, but it has triggered fury in Greece’s ruling Syriza party. Early elections would be a way to seek public legitimacy for the difficult decisions needed to secure more cash. Greece’s bailout expires at the end of June and if no cashfor-reforms deal is done by then, default would seem certain, shunting the euro zone into uncharted waters and opening the way for Greece to exit the single currency. Tsipras, elected in January on a promise to end years of grinding austerity, is due to brief parliament at 1500 GMT, with his party showing little willingness to back down. “The lenders want to impose hard measures. If they do not back down from this package of blackmail, the government ... will have to seek alternative solutions, elections,” Deputy Social Security Minister Dimitris Stratoulis, a hardliner in the government, told Antenna TV. Greek Economy Minister George Stathakis said the latest deal, drawn up earlier this week

by top level officials, including German Chancellor Angela Merkel, was unacceptable, but stressed that his country did not want to leave the euro zone. “Our government has a mandate to remain in the euro and get a better deal to ... try to change the terms of the agreement that we have with European partners,” he told BBC radio. “Greece has to remain within the euro.” An opinion poll published on Friday on the website Newsit showed that three out of four Greeks wanted to stay in the 19-nation euro zone, while almost one in two was in favour of the government reaching a compromise deal. Some 37 percent of people questioned in the Alco survey supported early elections to resolve the standoff. “It is more likely that there will be elections than not,” Costas Panagopoulos, head of ALCO pollster, told Greek radio. Tsipras had indicated late on Wednesday that Athens would hand back the IMF loan on Friday. But less than 24 hours later, his government changed direction, deciding instead to bundle together some 1.6 billion euros it owes the Washingtonbased lender in June into a single payment at the end of the month.

Vodafone in talks with Liberty Global on asset swap, not merger

odafone, the world’s second biggest mobile company, said it is in early talks about exchanging selected assets with Europe’s largest cable operator Liberty Global, which could enable each to better compete with rivals. Analysts and sector bankers said the two most important countries for both firms where they overlap were Britain and Germany. They also both operate in Ireland, the Netherlands, Czech Republic, Hungary and Romania. Vodafone, traditionally a mobile-only company, has been on the back foot in recent years as companies with access to mobile and fixed-line infrastructure such as Orange, Telefonica and Deutsche Telekom offer packages of services to customers in one bundle. After weeks of speculation, Vodafone released a statement on Friday saying it was not in merger talks with Liberty, but was holding talks about a possible exchange of assets, without saying which businesses were being discussed. “Whilst talks might yet lead to a full combination with Liberty, an asset swap would allow both parties to boost their respective positions in converging markets, and could still lead

to a full combination over time,” analysts at Deutsche Bank said. In Germany, Deutsche Telekom has started selling mobile, Internet, TV and fixed-line telephony in one package and in Britain, BT will be able to do the same once it has completed the acquisition of the country’s largest mobile operator EE. Liberty Global, which has operations in 12 European countries, has a market capitalisation of $46bn, while Vodafone’s is 66 billion pounds ,$102bn. An industry banker said he believed Vodafone’s primary interest was in acquiring Liberty’s UK arm Virgin Media, while the main attraction for Liberty was Vodafone’s German business. Liberty already owns Unitymedia, Germany’s secondbiggest cable operator, and it has long coveted its bigger rival Kabel Deutschland, which Vodafone bought in 2013 for $10 billion to merge with its mobile operations there. “This deal is about swapping UK with Germany. Nothing else is relevant,” the banker said. Alternatively, analysts said Vodafone could sell its British and Dutch operations in exchange for Liberty’s German business, however that would leave Vodafone out of its home market. The lack of an obvious solution might shed light on why the two firms have failed to agree on a wider deal despite much speculation.

US economy adds 280,000 jobs in May

he increase was more than analysts had expected and the biggest this year. Economists described it as “encouraging”. The jobless rate, which is based on a different survey, crept up to 5.5 per cent from 5.4 per cent, but this was explained by more people looking for jobs. Average earnings rose 0.3 per cent compared with the previous month, to $24.96 an hour. This is a measure closely watched by policymakers as they assess when to start raising interest rates. Consistently higher wages, as well as the improving jobs market, will add to the argument for a rate increase, which most observers currently expect to happen in September, rather than at its next meeting in June. “More people working more hours and making more money is a very virtuous combination for growth,” said Tom Simons from Jefferies. “The May employment report is very encouraging.” The economy is expected to return to growth in the second quarter, after an unexpected contraction in the first three months of the year.

It shrank by 0.7 per cent between January and March but that was seen by many as an aberration, largely caused by an exceptionally harsh winter and a West Coast ports strike that severely damaged exports. The Labor Department also revised the jobs figures from March and April. March was revised up to 119,000 from 85,000, while April was revised a touch lower to 221,000 from 223,000. It means that over the past three months, companies have added an average of 207,000 jobs. “Job gains occurred in professional and business services, leisure and hospitality, and health care,” the Labor Department said. The US labour market continues to heal. Jobs are being created and wages are rising. Even the slight increase in the unemployment rate can be seen as a positive sign - as more people are looking for work. The labour participation rate - which counts those in employment or those who are looking - rose to 62.9%. So is this jobs report strong enough to give the Federal Reserve - America’s central bank - the green light to raise interest rates this year? They’ve been near zero for nearly seven years. Certainly the International Monetary Fund would like the Fed to wait until next year, when there is more of a rebound in wages and inflation. But after this Friday’s jobs report, many on Wall Street now think the odds of a move in the second half of 2015 have just gone up.

Bulcke

Maggi noodles from Nestle ‘hazardous’ – India regulator

ndia’s food safety regulator said tests have found Nestle India’s Maggi instant noodle products are “unsafe and hazardous”. The Food Safety and Standards Authority of India accused Nestle of failing to comply with food safety laws. Nestle withdrew the Maggi brand from stores, after regula-

tors found higher-than-allowed levels of lead in some packets. But the company insists the noodles are safe. Maggi is the market leader in India, where a packet costs 12 rupees, 12p. Nestle’s global chief executive promised to return Maggi to store shelves. Paul Bulcke told reporters in New Delhi: “I am confident that we are going to come back very soon.” Mr Bulcke also asked to see the results of the laboratory tests. Several states have also been testing the noodles for the chemical monosodium glutamate, widely known as MSG. In its complaint, India’s food safety regulator said that packets of “Maggi Oats Masala Noodles with Tastemaker” were misleadingly labelled with “No added MSG”. Nestle said in a statement on Friday that Maggi noodles are completely safe. But “recent developments and unfounded concerns about the product have led to an environment of confusion for the consumer”, it said. The firm said the confusion had developed to such an extent “that we have decided to withdraw the product off the shelves, despite the product being safe”, but promised the noodles would return to the market as soon as the current problem was dealt with. Maggi noodles had already been banned for 15 days in India’s capital, Delhi, and states including Gujarat. However, other states had deemed them safe. The BBC’s India correspondent, Sanjoy Majumder, reports that Maggi noodles are ubiquitous throughout the country, popular with adults and children. The noodles have been a market leader for the past 30 years. Pulling the product from store shelves could present a massive logistical challenge. Safety concerns about the product continued to spread on Friday, with Singapore’s food safety authority saying it had taken samples of Maggi’s instant noodles made in India for safety tests. “[We have] advised affected importers to withhold sale until our tests are complete,” a spokesperson from the AgriFood and Veterinary Authority of Singapore said in a statement. They say that Maggi noodles take two minutes to cook - and - in India - never more than two minutes to find. They’re in every grocery shop - and whether travelling in the backwaters of Kerala, the deserts of Rajasthan, or the northern wilds of Ladakh, you’ll find them on the menu at pretty much every roadside cafe. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, June 8, 2015

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Brand Watch

Guinness partners supermarkets to curb underage drinking Stories by David Audu

s part of its commitment to encourage responsible drinking in the country, Guinness Nigeria Plc. has joined hands with four leading supermarket chains in Lagos to campaign against underage drinking. Guinness expressed this commitment at the signing of a Memorandum of Understanding with the four supermarket chains in Lagos as part of the company’s official kick–off of its Age Verification Programme. The supermarket chains are Addide Stores, Just Rite Superstores, SPAR Artee Group and Grocery Bazaar Ltd. According to Guinness, the campaign against underage drinking was borne out of the company’s commitment to reduce access to alcohol by underage people. In October 2012, Diageo, the

parent company of Guinness Nigeria, was one of the 13 leading global producers of wine, beer and spirits that launched new commitments to reduce harmful drinking as a means of supporting member states to implement the World Health Organization’s (WHO) global strategy of reducing harmful use of alcohol. One of the commitments is reducing underage drinking. Speaking at the ceremony, Managing Director/CEO of Guinness Nigeria Plc., Mr. Soren Lauridsen represented by the Corporate Relations Director, Guinness Nigeria, Mr Sesan Sobowale, described underage drinking as a global issue that required concerted efforts to tackle, adding that the company is already taking proactive steps to combat its occurrence or spread of which the Age Verification Programme is one. “The Age Verification Program is to control the sale of

alcohol to minors or underage persons, that is, persons under 18 years of age. Alcohol is strictly for adults and as we say in our company, children and alcohol do not mix”, Mr. Sobowale said at the event. He added: “We recognise that our efforts alone will not be sufficient to achieve success. So we are enlisting partners such as you (the supermarket chains) in this effort and would like to thank you for accepting to partner with us. We have started taking the campaign to retail outlets (bars) where alcohol is consumed and we are looking at expanding our reach in the near future through the involvement of more partners at off-trade and at point-of-consumption outlets. By working together, we can accomplish greater scale and impact.” He hoped the initiative would open up new horizons in the campaign against misuse and

Lauridsen

abuse of alcohol in general and underage drinking in particular. Commenting on the Age Verification initiative, representatives of the four supermarkets involved expressed satisfaction that Guinness Nigeria is not only interested in selling its products and generating revenue at all costs, but is also passionate about responsible

drinking in the society. According to the Head of Purchasing, Grocery Bazaar, Mr Joseph Isa, “The initiative is a bold one, especially coming from a brewing giant who should ordinarily be interested in selling its brands. I think Guinness Nigeria has once again shown itself as a leader in the industry and other brewers should follow suit. BC

Booster is not just coming to recognise the undying adventurous spirit of the Igbo and the average will to not just survive, but succeed in everything he/ she does, the project is a celebration of the of the essential Igbo spirit of industry, will to succeed, enterprise and passion in the world of business,” he said. Agu added that the invention of Progress Booster by the company is a reinforcement of the heritage embedded in the Life Continental Beer, its essence, connection and affinity with the people and heritage of South-East.

“Life Continental Lager Beer defines the Igbo in every Igbo consumer. That’s our beer. It was Life Beer that gave the Igbo the sense of ownership for the first in Nigeria’s brewing history. Every Igbo beer consumer and aspiring beer consumers has a heritage tied to Life Continental Lager Beer. It is the beer that has taken care of the needs of the Igbo from time immemorial,” he enthused. According to him, young, ambitious and entrepreneurial youths from the South-East, aged 18 and above with great business ideas are qualified to enter the competition. BC

Young entrepreneurs jostle for N14.5m

oung Entrepreneurs Jostle for Life Continental Lager Beer’s N14.5m Progress Booster Radio Show As the maiden edition of Life Continental Lager Beer’s Progress Booster Radio Show prepares to go live on air, young entrepreneurs of South-East extraction are sending their entries in torrents. According to Senior Brand Manager, Stout and Life Lager, Funso Ayeni, sorting and screening of entries is ongoing even as they are falling in torrents. He averred that Progress Booster is designed to rejuvenate and celebrate the quintessential Igbo’s spirit and culture that places emphasis on change, individualism and competitiveness as essential ingredients of industry, enterprise and the will to succeed and excel in any field of endeavour, no matter how herculean the challenges are. Ayeni who described Progress Booster as ‘unique and an exciting’ disclosed that the radio reality show “is designed as an Entrepreneurship Support Initiative ,ESI and is aimed helping young people who reside within the South East geo-political region to get a head-start in their desire to start up business ventures of their own.” According to him, the project runs on simple terms and conditions: “There would be call for entries during which young and aspiring business owners, entrepreneurs are expected to package and submit written copies of their

business ideas to participate in the show. Entries deemed good enough by a panel of business moguls would be entitled to win a cash prize of N250, 000 every week as well as an extra N250, 000 at the end of every quarter if the said business idea was the best and most profitable in a particular quarter,” said. Life Continental Lager Beer, a lager beer brand from the rich brands stable of Nigerian Breweries Plc., initiated the N14.5 million worth talent enhancement and empowerment competition to encourage and enhance the dreams of budding and talented businessmen and

women within the South-East. While inaugurating the innovative entrepreneurial talent hunt radio show in Onitsha recently, the Marketing Manager, Lager & Stout, Nigerian Breweries Plc., Emma Agu, stated that Progress Booster is meant to re-launch and reinvigorate Life Continental Lager Beer in the South East market where it pioneered regional brewing and has maintained leadership of the region’s booming market. “The project is Life Beer’s own way of reconnecting and rejuvenating the illustrious and enterprising spirit the average Igbo is known for. Progress

Safeguard drives personal hygiene through Children’s Day

Pogoson

rocter & Gamble’s antibacterial soap, Safeguard says its partnership with the popular children-centric TV series, Nnenna & Friends by Wale Adenuga Productions, to host Nigerian children and educational celebration was driven

by its passion to promote the health status of the children of Nigeria. The partnership which saw the attendance of over 7,000 children from various parts of Lagos State was part of the company’s efforts to mark this year’s Children’s Day held on May 27. Safeguard’s Brand Manager, Tolulope Pogoson, said P&G was excited to sponsor the Nnenna & Friends Children’s Day celebration because it’s a platform for the company to demonstrate its dedication to the health of Nigerian families, particularly the children, who are the leaders of tomorrow. She further said the sponsorship was in line with the company’s vision of touching and improving lives now and

for generations to come While addressing the children during the Safeguard Quiz, Pogoson said that the future is awaits children who reach for their dreams and stay physically healthy, and encouraged them to remain healthy in their journey to become tomorrow’s leaders. “In order for you to attain your dreams of becoming future leaders, you must stay healthy and strong. It is important you observe basic hygiene rules which involve washing your hands regularly with Safeguard soap; ensuring you have your bath with any of Safeguard’s soap; and ensuring your environment and surroundings are clean at all times,” she said. She further said that the Safe-

guard soap offers the family double protection against germs for up to 12 hours and, that is why it is the only anti-bacterial soap that has been endorsed by the Africa Medical Association, AFMA. The organisers of the Nnenna & Friends Children’s Day celebration, represented by Wale Adenuga, commended Procter & Gamble for sponsoring the event with the leading anti-bacterial soap, Safeguard. He noted that the sponsorship was a reflection of the company’s total commitment to improving lives. Some other attractions at the event included Safeguard quiz, which saw over twenty children win different variants of Safeguard Soaps including the newly introduced Aloe Vera and Menthol. BC

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Business Courage

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Energy Review

How gas shortage continues to stunt electricity growth The past few weeks have been tough for Nigerians in terms of power availability, with a paltry 1,200 Mega Watts as against 20,000 MW needed for a stable supply. One of the reasons attributed to the shortage is gas shortage Gbenga Odogun examines this recurrent decimal

ince the privatisation exercise of 2013, electricity consumers have never had it so bad compared to what they are made to witness in the last one month, Generation have gone down drastically to 1,200 Mega Watts for the whole country. Although it climbed back up to about 3500 mega watts in the last one week, according to the National Control Centre. Available generation records showed that 2,993.7MW was the quantum of electricity that the system was losing due largely to gas shortage. Since the handover of the Power Holding Company of Nigeria successor companies to new investors, the generation firms have been complaining of a drop in the supply of gas to fire their plants. The country is said to be losing over 1,181MW to gas supply constraints, from the six gas-fired power plants with combined capacity to generate2, 142MW while another 1476mw is lost to shrinking water level. The implication of this is that the quantity available for the Distribution compa-

Omotosho power plant

nies has also gone down significantly with some Discos sometimes receiving zero allocation from the National grid. Peak electricity output in the West African nation, the continent’s biggest economy, reaches about 3,800 megawatts, with another 1,500 megawatts unavailable because of gas shortages, the Nigerian Electricity Regulatory Commission said in March. South Africa, which has a third of Nigeria’s population of 170 million, has eight times more installed capacity. Officials blamed the gas shortfall on canalization of existing gas pipelines as well as inadequate gas pipelines to transit the commodity to the power stations. Industry watchers blamed the government for exhibiting clear lack of foresight in building the power stations away from gas sources which serve as fuel the for power

Okonjo-Iweala

Amadi

generation, for instance, why building power station at Omotosho which is far away from source of gas needed for efficient performance leaving out Ilaje with natural water needed for hydro station without any station? Former Finance Minister and the coordinating Minister for the economy, Mrs. Ngozi Okonjo-Iweala said Gas short-

ages at Nigeria power plants, about 70 percent of which are fuelled but the commodity will take years to resolve. “We have lots of gas but we don’t have the pipelines to transport it to electricity plants”, Okonjo-Iweala said at a conference in St. Galen, Switzerland adding that it will take a couple of years before we see progress with the

efforts of the private investors. The Chairman of Nigeria Electricity Regulation Commission NERC, Dr Sam Amadi, also attributed the current acute shortage of electricity supply to the shutdown of 18 of the country’s 23 power plants due to gas shortages which he blamed on increased vandalism prior to the April 2015 elections. “At present, 18 out of the 23 power plants in the country are unable to generate electricity due to shortage of gas supply to the thermal plants, with one of the hydro stations faced with water management issue. This has led to loss of over 2,000 megawatts in the national grid,” Mr. Amadi said. He blamed the poor outcome on the inability of the NNPC and its subsidiary, the Nigeria Gas Company, NGC, to maintain regular supply, due to the high incidence of vandalism on the Trans-Forcados pipeline in the western axis and Escravos-Lagos gas pipeline in the eastern axis. Also the former minister for power professor Chinedu Nebo said the current facilities and infrastructure on the ground had the capacity to provide more than 5,000 megawatts in the country, but lamented that some saboteurs were bent on ensuring that the target is not achieved by vandalising gas pipelines on a regular basis. He advocated for considering solar power as a way of solving Nigeria’s power problems, especially in the rural areas, disclosing that three communities, including Durumi in the suburbs of Abuja, have enjoyed 13 months of uninterrupted electricity since the start of the pilot scheme in December 2013. BC

Oando to invest $36m to boost gas production By Gbenga Odogun

ando Group announced plans to invest $36m, about N7.2bn, in the construction of three gas-compression plants in the country within the next one year. The investment is to be located in Aba,Abia state, Port Harcourt,Rivers state, and another in yet to be disclosed place in the central Nigeria expected to boost gas supply by about 20 percent on completion In an interview with

Bloomberg in Lagos, Bolaji Osunsanya said that the investment became necessary in view of the increasing domestic gas demand projected to reach 5 billion cubic feet daily in the next two years. According to him “Oando is targeting big energy users such as cement and steel plants, who currently rely on diesel to generate at least 1.5 megawatts of power per factory, to switch to gas which when compressed could become more than 200 times smaller than its original volume, making it more easier

to be delivered to companies connected to pipelines during supply disruptions.” He further said that the company is building a business to truck natural gas to industrial users whenever they are cut off from pipeline supply thereby creating a market for the future which otherwise wouldn’t have been possible to use pipelines to serve. “The technology can be utilised on all modes of transportation. Today it is trucks, but there is a future for rail and for barges, so we can

wheel compressed natural gas through the rivers upstream.” Said Osunsanya The company further said that it is well on track to meeting these production targets with its recent announcement of an 82 percent increase in reserves despite the downturn in the sector. The company’s proved and probable net reserves, 2P reserves were significantly increased from 230.6 million barrels of oil equivalent, MMboe to 420.3 MMboe at an economic value of $545m to $1.8bn. BC

Wale Tinubu, Oando CEO

National Mirror www.nationalmirroronline.net

Business Courage

Monday, June 8, 2015

A11 27

Wearable devices on steady growth, as more Nigerians embrace trend By Isaiah Erhiawarien

earable devices have become a trend and passion among those who can afford it in Nigeria, particularly among celebrities through whom the devices are launched into the market. Notable in the market is the Samsung Galaxy Gear launched alongside the Galaxy Note series and more recently the Samsung Galaxy S series. Latest report from the International Data Corporation, IDC, Worldwide Quarterly Wearable Device Tracker, revealed that the growing use of wearable device in Nigeria and across the globe is creating impact on its supply as first quarter of 2015 recorded a steady growth. According to the IDC report, vendors shipped a total of 11.4 million wearables in the first quarter of 2015, a 200.0 per cent increase from the 3.8 million wearables shipped in the same period of 2014. Research Manager, Wearables, at IDC, Ramon Llamas while commenting on the trend, which result to the steady growth of the device said that it demonstrates growing enduser interest and the vendors’ ability to deliver a diversity of devices and experiences. He added that demand from emerging markets like Nigeria is on the rise and vendors are eager to meet these new opportunities saying that “What remains to be seen is how Apple’s arrival will change the landscape.” According to him, the Apple Watch will likely become the device that other wearables will be measured against, fairly or not. This will force the competition to up their game in order to stay on the leading edge of the market. Also Senior Research Analyst, Worldwide Mobile Device Trackers, Jitesh Ubranisaid that young market like Nigeria, witness price erosion that has been quite drastic saying that “We now see over 40 percent of the devices priced under $100, and that’s one reason why the top five vendors have been able to grow their dominance from two thirds of the market in the first quarter of last year to three quarters this quarter. He said that despite this price erosion, Apple’s entrance with a product priced at the high end of the spectrum will test consumers’ willingness to pay a premium for a brand or product that is the center of attention.

Samsung Galaxy Gear smartwatch

Llamas

Wearable vendor highlights indicated that Samsung’s fourth place finish came from worldwide demand for its Gear smartwatches. Since its debut in 2013, the Gear portfolio has diversified to include the Tizen-powered Gear, Gear 2, Gear Fit, Gear 2 Neo, Gear S, and the AndroidWear powered Gear Live. What has limited Samsung, however, is the ability for Gear devices to connect only with select high-end Samsung smartphones. Fitbit started 2015 the same way it ended 2014: as the clear market leader in the worldwide wearable device market. Fitbit’s first quarter shipments were driven by the release of three new devices (the Charge, Charge HR, and the Surge) along with continued demand for its older Flex wristband and One and Zip clip-on models. Separately, these address multiple segments of the

market, from casual exerciser to committed athlete, and collectively leverage Fitbit’s behaviour change engine to encourage activity. Xiaomi started off the year by blasting through the one million unit mark with its Mi Band for the first time, a significant feat made all the more impressive considering the device just started shipping during the second half of 2014. Similar to its smartphones, Xiaomi’s Mi Band was delivered primarily within its home country of China, but recent announcements point to more global aspirations for the company. Garmin’s wearable device portfolio spans multiple areas of health and fitness, including activity tracking, running, hiking, golfing, triathlons, and multi-sport. The majority of Garmin’s devices are GPS-enabled to track location and distance, and

some leverage the company’s ConnectIQ third-party applications to record activity, show notifications, and news. Jawbone beat Pebble and Sony for fifth place, a result driven by the release of its UP MOVE and continued demand for its nearly year-old UP24. The company will release two new devices in the second quarter of 2015, with the similarlyfunctioning UP2 and the mobile payments-enabled UP3. The company maintained its design strategy of no displays, but again touted its predictive data engine to encourage healthier lifestyles. Meanwhile, as the wearable device growth continues to steady, applications for smart wearable devices is also said to be poised to surge as developers race to deliver killer apps for consumer and enterprise use across the world. According to IDC, the number of third-party applications designed to run on smart wear-

able devices is expected to grow from 2,500 at the end of 2014 to 349,000 in 2019. While the majority of these applications will be consumer focused, IDC said a significant opportunity exists for enterprise-oriented applications. Developers capable of delivering clear benefits and a transformative experience will catalyze demand and further accelerate application development on the supply side. With the Apple Watch expected to capture up to two thirds of the smart wearable device market in 2015, Apple’s influence on the wearable applications market will be considerable. Research Vice President, Mobile and Connected Platforms at IDC, John Jackson said It has been clear since well before it was launched that the Apple Watch, with the WatchKit SDK, is poised to set a tone for the broader market. According to him, to succeed in what IDC expect will quickly become a very crowded category, consumer-oriented app developers need to focus on intelligent service delivery and ‘always on you’ experiences that leverage the human factor improvements that smart wearable devices offer. He stated in a new report by IDC that the market for wearable applications targeting specific enterprise use cases is forecast to develop modestly in absolute numerical terms, representing 10 per cent of the total number of applications in 2015 and growing to 17 per cent in the final years of the forecast period. “Applications designed for wearable devices deployed to address specific enterprise workflows are the highest value targets for developers in the wearable technology space in the near term,” noted Jackson. IDC said that enterprises will find numerous points of intercept for existing and new workflows and are prepared to invest substantially in wearable solutions that deliver potentially transformative productivity and competitive benefits. A majority of the wearable applications developed will depend on connections to “host” devices, such as a smartphone or, more accurately, app code on a smartphone. However, “standalone” applications, which do not depend on another device, will also have a meaningful presence throughout the forecast, said IDC. BC

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Business Courage

Monday, June 8, 2015

Sponsored-pilgrims commend MTN on arrival Stories by Adejuwon Osunnuyi

he 20 pilgrims sponsored by Nigeria’s leading ICT and telecommunications company, MTN, who returned to the country have continued to shower praises on MTN for the opportunity given them to have a life enriching experience in the holy land of Jerusalem. The pilgrims, who arrived through the Murtala Muhammed International Airport, Lagos, said they had the opportunity of visiting places they only read in the Holy Bible prior to this awesome experience. Some of the places visited include the Manger where Jesus was born, Mount of Olives, River Jordan—where Jesus was baptised, Nazareth, St. Peter’s Church, Mount Tabor, Mount Nebo, Jericho Mount of Calvary, the Tomb of Jesus, the Wailing Wall, Garden of Gethsemane and the Sea of Galilee. Aliyu Maureen, one of the lucky customers explained how spiritually fulfilling and uplifting the journey to the holy land was. “I feel spiritually blessed, fulfilled and my soul has been

uplifted since I stepped into the holy land. MTN through its sponsorship has given a rare privilege I have always dreamt of. Getting to the Wailing Wall, I reconciled with God on certain negative issues in my life and I believed my sins have been forgiven. This would not have been possible if not for MTN” Corroborating Aliyu, another customer, Felix Akemu while commending MTN said “The journey to Jerusalem has really enhanced my faith and I’m now a better Christian. Being in Bethlehem made me feel I’m with Jesus Christ especially when we visited the Manger (where Jesus was born”. The Chief Marketing Officer, MTN Nigeria, Bayo Adekanmbi, while welcoming the sponsored customers back to Nigeria explained that the strategic focus for this initiative is to show support to MTN Christian subscribers. “We are committed to the total wellbeing of our customers as we drive to make their lives brighter through our propositions, products and value-added services. This is one of such initiatives aimed at uplifting and encourag-

ultiChoice Nigeria has announced the launch of ONTV MAX, a popular free-to-air (FTA) television station in Lagos, on the DStv and GOtv platforms. The channel will be available to Premium, Compact Plus, Compact, Family and Access subscribers on DStv channel 257 and to GOtv Plus subscribers on channel 96 is expected to go on live from Thursday, 11 June 2015. The launch of ONTV MAX brings to seven the number of Nigeria’s FTA channels on DStv and GOtv. Other FTA stations on DStv and GOtv include; NTA I, Channels TV, Africa Independent Television (AIT), SilverBird Television, Lagos Television and Murhi International Television (MiTV). ONTV MAX will deliver real time local and international news; the latest in music videos, fashion, lifestyle, sports, children’s edutainment plus blockbuster Hollywood and Nollywood

movies. The channel also features an exciting range of dramas, series, and telenovelas that include Bella’s Place, Disclosure, Housemates,Spider, Freezing Points, Plus 234, Higher Learning, Footprint, Saints, The Interns and many more. The Managing Director of MultiChoice Nigeria, John Ugbe, welcomed the addition of another FTA channel on the DStv

Ugbe

Improving your health using your iOS mobile device

Adekanmbi

ing our subscribers to get closer to God. Through our bold new digital Value Added Services like the daily devotionals, Bible quotes, sermons, songs, prayers, hymns, callertunez, and other spiritually uplifting and faith enriching contents, we keep them connected to their maker on a daily basis.” He stated further that the company will continue to go the extra mile in providing exciting innovative initiatives geared at enhancing its customers’ whole new digital experience, while encouraging them to be better in their various fields of human endeavour. BC

and GOtv platforms which he believes, both play a pivotal role in showcasing the FTA channels’ rich content to the rest of Africa. “We are deeply committed to Africa and support the growth of original African programming. The collaboration with ONTV MAX will complement and expand our range of quality local content on our platforms,” he remarked. The Chief Executive Officer of ONTVMAX, Tajuddeen Adepetu, reaffirms ONTV’s commitment to providing quality content, which will meet the various entertainment needs of many Nigerians. “Our focus and drive is to provide excellent entertainment to Nigerians with the best of quality programming and shows ranging from Movies, music, fashion, sports, reality and the best the market has to offer. ONTV Max will provide 100 per cent entertainment to the teeming audience and fans around Nigeria” he said.

New Dell Inspiron Laptops,Micro Desktop offer purposeful innovation

ell has announced a comprehensive new line-up of Inspiron devices, offering a wide range of technology solutions to meet families’ everyday computing needs. Adding to Dell’s award-winning consumer product line up, the new portfolio includes the Inspiron 5000 Series laptops and a new micro desktop. Demonstrating Dell’s commitment to offering something for everyone, these new devices are available with a wide range

of processor options and configurable features, enabling students, families and valueconscious shoppers to connect, learn and achieve more. Ray Wah, Vice President, Consumer Product Group Dell, said that with today’s new product launches, Dell’s Inspiron brand continues its legacy of developing great devices that are easy-to-use, employing the latest technology to help families get more out of life. Wah said. “Everyday com-

with Esther Ozue (ozueesther@nationalmirroronline.net) 08059234648 (sms only)

ONTV goes live on DStv, GOtv

Technotalk

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puting is more fun when you can power video chats and games with the latest processors and graphics, or enjoy an immersive multi-media entertainment experience courtesy of brilliant front-of-screen displays with fantastic audio. From laptops to convertible 2-in-1s to desktops, we are delivering devices for every need at an exceptional value, empowering our customers to easily create and share content and connect with the people who matter the most to them.” BC

ne of the things that are built into every iPhone and iPad model running iOS 8 is potential. In other words, what your smartphone is capable of doing is limited only by the imaginations of app developers and your willingness to embrace new ways to utilise this technology in your everyday life is key. Built into iOS 8 are a vast tool available to app developers that now make it easier to create cutting-edge apps related to health and fitness. As third-party developers begin to utilise these tools, and equipment manufacturers now build iPhone compatibility and integration into their products, what will soon be possible using your smartphone or tablet are things that just a few years ago were only featured in science fiction novels, movies, and comic books. Discovering the new iphone-specific health app Among all the other app icons displayed on your iPhone’s home screen is a new app called health. For people who are fitness, health, and nutrition conscious, the health app works as a “dashboard” with a growing number of other workout and fitness, diet, and lifestyle apps, and it can help you monitor and analyse your daily activity, food intake, and sleeping patterns. The health app’s capabilities are limited to being a secure personal database for medical, diet, and healthrelated information that you manually enter into the app. Health app is designed to integrate and communicate with optional equipment, such as the apple watch, as well as a vast selection of other fitness and medical devices, ranging from heart-rate monitors to workout machines, and various types of sleep and blood sugar monitors. The health app is designed to gather information from these sources and help you track your progress and share this data with appropriate professionals, when applicable. The health app comes preinstalled with iOS 8 and it’s fully customisable. You determine what data you enter into it, and how it is used. If you ultimately choose to share certain information in the app, such as your fitness or workout progress with a personal trainer, you can still keep other medical data private. To discover what apps are designed to work with health, visit the app store, tap on the explore icon that’s displayed near the bottom of the screen, and then tap on the health & fitness or medical options. To get started using the health app, launch it from the home screen. By default, the dashboard screen is displayed. This is where collected data from optional apps and equipment is displayed in one centralised place. Using this data, you can easily track your health, fitness, diet and sleep patterns. Tap on the day, week, month, or year tabs that are displayed along the top of the screen to sort and display this information, if applicable. Displayed along the bottom of the screen are four command icons, labeled dashboard, health data, sources, and medical ID. Tap on the health data icon to access a menu of categories related to the types of data the health app is capable of collecting, tracking, analysing, and sharing. Tap on any of these options, and you can manually enter relevant data. For example, you can tap on the “me” option to enter your birth date, sex, and blood type. Tap on nutrition to manually track your intake of specific food types or the nutritional aspects of the food you eat. The medical ID tool that is built into the health app is basically a digital summary of vital medical information like your medical conditions, emergency contacts, primary care physician, your age, height, weight, blood type that you can make available to doctors or medical personnel in case of an emergency. BC

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Business Courage

Monday, June 8, 2015

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Dr. Chidi Anyaegbu, Chairman and Chief Executive Officer of Chisco Group, is a man with dogged determination to succeed. Armed only with a Primary School Leaving Certificate, Chidi plunged into spare parts merchandising after undertaking the required tutelage from his uncle. Today, about 31 years after he started with a seed capital of N120, the spare parts business which he started in Ebute-Metta, Lagos, has grown into a conglomerate of businesses, which include real estate, oil and gas, transportation, logistics, hospitality to mention but a few.

Chidi Anyaegbu:

A dogged

entrepreneur By Adejuwon Osunnuyi

hidi Anyaegbu made spirited efforts to be numbered among the teeming University graduates in Nigeria, but twice, his plans did not materialise. After several years in business, the Saint Andrew’s Primary School leaver, who hails from Amichi in Nnewi South Local Government of Anambra State registered for the Evening Class Programme at the University of Lagos with an eye on LLB in Law. The purpose, he disclosed, was not for him to practice the law profession, but to add value to his life. “What I actually wanted to achieve was to add value to my knowledge and my person, not that I was aiming to practise law,” he said. However, in the course of pursuing a degree in law, Chidi discovered that his business was going down seriously. So, faced with the predicament of not finding

qualified and dedicated manpower to run his business effectively, he decided to abandon his studies and concentrate on his business. “I had to take a decision. Instead of continuing the course and become a lawyer but lose the business, I stopped the course. As someone who was used to certain standard of living, I was afraid of getting back to square one. I decided to go back to my business to acquire an alternative higher degree because more years in business means more years of experience,” he recalled. After passing out from St. Andrew’s Primary School, Amichi, in 1971, Chidi enlisted as an apprentice under his uncle, Daniel Ofodum, who trained him in the business of motor spare parts sales. For four years, Chidi learned the trade under Ofodum’s tutelage and by 1975 when he decided to go solo, he had fully grasped the basic tricks of the business he started his own busi-

ness with a seed capital of N120 given to him by Ofodum at EbuteMetta in Lagos State. Today, Chidi said his success story cannot complete without the mention of Daniel Ofodum and one Mama Fasholati. According to him, the N120, 000 seed money from his uncle was instrumental to him being able to rent a shop from Mama Fasholati who she said gave him the opportunity to kick start his business at Ebute Metta, Lagos. “You see, I can’t tell my complete story without mentioning them. I am just being honest. Maybe other people would have done what they did. I am not very sure. Mama Fasholati was the first person who rented a shop to me. She could have given it to another person who could have paid more money. She had options but she decided to give it to me and for that reason I am eternally grateful because God used her to bless me,” the Chisco boss said.

Anyaegbu

Chidi started with the spare parts business he learnt from his uncle, later graduated to importation of general goods, thus, enlarging the scale of his business. As businesses continue to grow, he launched into the real estate business, acquiring properties and renting them out. Chidi who is the Grand patron of the Spare Parts Sellers Association owns majority of the shops at the spare parts market in Yaba and Ebute Metta. “Over 5000 people that deal in spare parts in Yaba and Ebute Metta, whether Igbo or Yoruba, I trained majority of them. I am the grand patron of the Spare Parts Sellers Association in Yaba and Ebute Metta. So, if I am not the one who trained you, then you must have been trained by the person I trained,” he boasted. But in 1981, six years into weathering the storm of entrepreneurship, Chidi decided to add another feather to his cap. He launched into the transport business, and Chisco Transport Nigeria Limited came into existence. But just like his experience in the spare parts business, transportation equally proved very challenging but being a rugged businessman that he is, he decided to face the challenges head on. “When I went into the business, I discovered that it was very difficult. But I am the type of person that does not run away

from challenges. So, when I saw the challenges, I told myself that I would stay around and see how it would end,” he recalled. Another challenge which Chidi had to battle with in the transport business was perception. “I kept pushing. Then, the business was like it was meant for dropouts and once you are in the business; people refer to you as a tout. Meanwhile, this is a very capital-intensive business for which people go to banks to borrow millions”. He however resolved to find solution to that challenge through various means. First, he was determined to put finesse into the business. He then came up with the initiative to introduce corporate outlook into the business. He stopped his drivers from carrying attachments (extra passengers) on transit. Besides, he also got corporate offices as terminals for Chisco Transport Limited, instead of loading passengers in the public garage as he also changed the outlook of his workers. He transformed the fierce looking and rough workers to a more presentable and civil personnel. In his pursuit for taking the business to the next level, Chidi was the first person in Nigeria to introduce transport as a course in the University. He built a transport study department for Continued on pg A14

Business Courage

the Nnamdi Azikiwe University, Awka to enable people to go and study transportation in the University and become professionals. “For instance, when banks want to employ workers, they employ professionals like accountants but you cannot see such in the transport sector. Transport issue is very important in other climes but, here in Nigeria, transporters are not regarded. I felt that something was missing. If you go to the Nigerian labour market today, nobody can come out to say that he has a degree in transportation from any Nigerian university. This was why I built a transport business study and, within the next five years, we would be having graduates in transportation studies from the University. It would be a study in Nigerian transport system and not that of London or New York,” he stressed. He observed that the few trained manpower available in the transport sector in Nigeria today are not suitable for employment as they lack knowledge of the challenges inherent in the sector in Nigeria. “What you would find in the labour market now are graduates from Britain or American Universities, who read transport and, if you employ them, they would be telling you how transportation is done in America. But there, they don’t teach them that a bus would be coming down from a hill and Customs officers or Police men would put a road block down the hill. They would not be taught about pot-holes on the road, or highway robbers who block the roads to rob passengers. These things don’t happen there. What they are taught there is what is obtainable in their own environments and, since we have a different transport environment from that of Europe or America, it then means that graduates of transportation from those universities cannot be of any value to our own environment. That was why I decided to build a department that would provide undertake degree in the Nigerian transport system and I know that when students begin to graduate from the department, the Nigerian transport system would be taken to a different level because the major thing they are studying there is the ill in our transport system, and how to correct them”, he enthused. To achieve that singular but laudable goal of creating a course of study in the Nigerian University, alien to the system of education in the country, the Chairman and Chief Executive of Chisco Transport Nigeria Limited say he has invested N78 million in building the faculty for transport studies at the Nnamdi Azikiwe University, Awka christened the Chidi Anyaegbu Endowment for Transport Studies. “With this, you can employ professionals to run a transport company. Just like the bank, as a Managing Director is old and leaving the bank, you have young people who are experts in banking, economics,

accounting and risk management ready to take over. But you don’t have such in the transport sector,” he said. Chisco also believes that when there are no professional mechanics, electricians, and you don’t have people who studied Nigerian transport, getting qualified replacement for those running the business now are often problematic. “There is this proverb by my people, that a community populated by only men is at the brink of extinction because there will be no procreation. The only people around are those who studied transport in United Kingdom where things are well planned. Unfortunately, things are not well planned here. In Nigeria, you will be a transporter, you’ll be Inspector-General of Police, Road Safety authority, local government chairman; you have to build your own park, you have to protect your passengers all around. To make it work, you have to do your own job and that of the government,” he said. Though Chidi confessed that the transport arm of the Chisco Group is not the cash cow in his business dynasty, he would not also let go of it as he believes that the business is a service to humanity. “Transport business is unique in the sense that it is a means of rendering service. Therefore, you need people who like to render service, people who are committed. You must have passion and sympathy for people. Some of the staffers in Chisco Transport have been there for the past 25 years. Transport doesn’t really generate much money but we are still in it because of the service,” he stressed. Though the transport arm of his business appears to have enjoyed the best of visibility, Chidi says that other subsidiaries have been the mainstay of the group. “I started with importation of spare parts. I still do it big time. I am into real estate, hospitality and oil and gas. If transport business is that lucrative, how come that the number of operators is reducing? Most state and local governments established transport companies in the past. Where are they today? A lot of people that made cheap money elsewhere veered into transportation business, where are some of them? The true position is that, if you don’t have subsidy from elsewhere, you can’t succeed in transport business. All the successful transporters you see – Young Shall Grow,

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Monday, June 8, 2015

Anyaegbu

ABC etc, they all have other businesses. Transport is the heart of any economy and that is why we are begging government to fix our infrastructure and see how the economy will boom,” he said. Notwithstanding the challenge of infrastructure which has made the transport business less lucrative, Chidi Anyaegbu is determined to remain in the business as he hopes to continue to increase its market share in the industry both in Nigeria and in the West African sub-region. According to him, Chisco Transport Limited which now operates between Nigeria and Ghana is seeking to open up new routes as it plans to extend its operations to the whole sub-region in the next 10 years. At the present, Chisco transport business operates in 28 states in Nigeria, with offices in 104 points. Chidi believes that transport business will boom in Nigeria but insists that would only happen when the government pay serious attention to building and maintaining good roads in the country. “The most essential ingredient of transportation is road. We need the roads. Once we have very good road networks, it would help to reduce the suffering of the poor masses because it would reduce the depreciation of the vehicles vis-a-vis the huge foreign exchange we use in buying the buses and spare parts. It is our roads that are spoiling the bus-

The Chairman and Chief Executive of Chisco Transport Nigeria Limited has invested N78 million in building the faculty for transport studies at the Nnamdi Azikiwe University, Awka christened the Chidi Anyaegbu Endowment for Transport Studies

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es, which means damaging our economy, because if our buses are durable, we would channel the money intended for new buses into other areas”, he lamented. As a long distance runner, Chidi did not rule out the possibility of going into manufacturing of automobiles but that he said would come only when the operating conditions for operators in the transport sector improves. “We can even go into manufacturing and use it to employ a lot of people. I know that one of the major challenges of this government is how to tackle unemployment. If the roads are maintained, transporters would, instead of spending all their money on maintaining their buses, use the money to build industries that would generate employment. If the roads are good, it would also help people to remain in the business, instead of running away from it, as it is now the case”, he said. To continue to survive in the difficult terrain where it operates, Chidi says Chisco Transport Nigeria Limited has continued to introduce innovative ideas to make its customers comfortable with its services. Despite the difficult challenges of wear and tear due to bad roads, Chisco says the company encourages its customers by providing gadgets for security checks among other security measures. Apart from putting security gadgets, the company ascertains that its buses are equipped with tracking equipment to know when they have problem on the highway. “We have also trained our personnel on how to detect explosives. Another thing is that, we have a structure on the ground as most of the Chisco terminals have hotels where customers can sleep if the bus arrives late. These are some of the reasons why Chisco Transport Company has continued to flourish”, Chidi grinned. Apart from spare parts sales and transportation, Chidi is also

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into courier/logistics, hospitality, oil and gas, Bureau de Change, haulage, real estate and investment among others. He owns CTN Express Limited, which is the courier arm of the business as well as Villa Angelia Guest House and Angel Park Place Hotel, both rendering services to customers, especially passengers of Chisco Transport Nigeria Limited in the hospitality industry. Chidi’s other businesses include Havillah Oil & Gas, Chisco Haulage & Keenline Investment Limited. Chidi Anyaegbu is an advocate of enduring business. He says business dynasties should outlast their founders and as a result of this believe, he has put in structures that would ensure that the Chisco Group remains a going concern even long after he would have gone. Part of his succession plan is the training of a couple of young men who will take over from him as he says; he would take the back seat in the next three to four years though he is still less than 60. But topmost of his strategy is to adequately equip some of his children to carry on from where he would stop. His son studied accounting at Cardiff University, London and came out with First Class and has also acquired a Masters degree in Logistics and Transport at Cronwell University, London and he is already deeply involved in the running of his father’s business. Though Chidi Anyaegbu could not earn a degree, his love for knowledge has led him to acquire relevant knowledge, which has helped him to run his business effectively. In the course of his business, he has attended several short Management and Entrepreneurial courses in France, USA, Brazil, Germany, and United Kingdom. He was conferred with a Doctorate Degree in Business Administration (Honoris Causa) by Penn State University, USA in 1996. He is a Fellow, Chattered Institute of Logistics and Transport (International) London and possesses the Business Certificate Award by University of Houston USA. Anyaegbu is a Fellow, Chartered Institute of Logistics and Transport Nigeria, and was conferred an honorary Senior Fellowship by the Institute of Internal Auditors of Nigeria. For his philantrophism and contribution to the growth and development of his immediate community, education and economy of Nigeria, Anyaegbu has been decorated both by the government and different Associations and Organisations in the country. He was awarded the Distinguished Leadership Award by the Police Community Relations Committee, zone 7 of the Nigerian Police. He is a pillar of development in Anambra state Foundation and National Merit Award in Transport at the Institute of International Auditors of Nigeria. BC

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Business Courage

Monday, June 8, 2015

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ThebuddingEntrepreneurs

Take your passion to market KLINIC

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

e-mail: olusegunmamora@gmail.com

ears ago, two different birds landed at a local wing of Nigeria airport. One was a natural bird and the other was an artificial bird. The natural bird landed without any form of noise and rarely does people knew of her arrival. The artificial bird in its attempt to land commanded the attention of different department of the airport authority. There were different effort to help its landing processes and unfortunately in the struggle eventually crash-landed. The natural bird is a sparrow while the artificial is an aircraft carrying passengers. Dear friend, just as the natural bird landed easily, when you operate in your natural ability, you get a great result for your effort. Sometimes it looks like those who work with their talents are not working hard and yet they succeed in business. The fact is that it will not be difficult to invest your time and finance in a business that resonate with your powerful emotion. Your passion is your powerful emotion. The proofs of your passion for any line of business are consistence thought of it, commitment of time, resource and your energy, and it starts with your desire to exercise your talent for the passion. You must respect your talent as a gift because you can create value from there, which is marketable. Talent is more valuable in the market when you are willing to polish it with good education and trainings. Your talent keeps you in service to humanity and for creating wealth. Channel your talent into your passion; it is easier that way to set up business. Those who set up busi-

ness around the area of their influential emotion, passion, rarely depend on external motivation to keep giving values to people. In the time of business challenges, they keep their head up because of conviction of the prospect in both near and long term. The billionaire Bill Gate is a talented soft ware programmer whose powerful emotion is to see computer on every desk in every house in the world. Another reference is Sam Adeyemi, the president of Daystar Leadership Academy in Lagos as a model in nonprofit organisation sector. I comprehend that it was easier for him to be consistent in leadership development services because of passion. In Nigeria, leadership development business is not an attractive choice, neither for investors nor for financial institution. Sam talent is teaching and his powerful emotion is to develop leaders for institutions in nations of Africa and beyond. Today the academy attracts an army of

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discover area of strength too. For example, your passion or powerful emotion could be to see people have access to quality food. Your strength, which is your strongest point, could be to start a restaurant especially if you are a talented cook. You may not necessary start an NGO for quality food advocacy if you do not have talent for organising social events and meetings. Usain Bolt, 100-meter world record holder, passion is athletics. His strongest point, strength, is the 100 and 200-meter race. Gabriel Sellase is also passionate about athletics but will never do 100 meter like Usain Bolt, although he is a talented runner but only have strength in long distance race. His strongest point is long distance run where he thrives with world record. Both Usain Bolt and Gabriel Sellase are talented runners but compete differently and keep winning because they do so in their strongest points. This also applies to businesses that differentiate

Are you passionate about the line of business you have invested so much money? Do you have a powerful emotion for the problem you are trying to solve for us? Does it break your heart that people could not live a better life because of absence of this service?

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BUSINESS

young start up entrepreneurs and workers who seek a qualitative leadership development course. Those who build businesses around their talent and passion rarely try to be like any other person and not easily distracted. Usually they stay focus and innovate from time to time. They do not jump from business to another and for them business diversify means creating different value for different markets using the same talent and passion. They are creative from the perspective of their natural ability. To many of them, the principle of many small wins brings them to stardom and wealth creation. Will you find out your natural ability too? Will you find your powerful emotion? These are keystone decisions to your business success and sustainability. Business is an enterprise that either creates wealth or help people experiences a comfortable life. It is not enough to have powerful emotion towards solving problem you need to

Motivational Business Quotes

he absolute fundamental aim is to make money out of satisfying customers. – John Egan There are a lot of things that go into creating success. I don’t like to do just the things I like to do. I like to do things that cause the company to succeed. I don’t spend a lot of time doing my favorite activities. – Michael Dell I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well. – Alan Greenspan You must be the change you wish to see in the world. – Mahatma Gandhi

Let’s be honest. There’s not a business anywhere that is without problems. Business is complicated and imperfect. Every business everywhere is staffed with imperfect human beings and exists by providing a product or service to other imperfect human beings. – Bob Parsons You need to be aware of what others are doing, applaud their efforts, acknowledge their successes, and encourage them in their pursuits. When we all help one another, everybody wins. – Jim Stovall The only way around is through. – Robert Frost You only have to do a very few things right in your life so long as you don’t do too many things wrong. – Warren Buffett BC

themselves in the markets and winning because they put in view their strongest points for value creation. I want to encourage you to slow down on that business that is not given you the expected result and ask fundamental questions. Are you passionate about the line of business you have invested so much money? Do you have a powerful emotion for the problem you are trying to solve for us? Does it break your heart that people could not live a better life because of absence of this service? Do you have the talent and talented team to drive the business? Have you discovered your area of strongest point for the business? Answers to these questions will help you develop a new strategy for the business. Research has shown that every business is like a seed planted in the soil that must go through test of potential and challenge by forces before it eventually grow and yield fruits. What keeps business going on in such time is the passion of the entrepreneur and leadership he provides for his team. Except you are convinced from the beginning about the possible success of the venture and your resolved decision to build a long lasting enterprise you may have many abandoned projects. Every entrepreneur conviction and staying power will go through various tests at different level of business circle. Please make up your mind to take your passion, talent, and strength to market and be determined to stay in business for the next generation to take over from you. If you have found your passion then taking it to market and building a successful business around it will require that you develop your talent and strength. You will need to periodically improve your strategy, learn, unlearn, and relearn in the present age of dynamic society. I am so sure that building an excellent city where people experience freedom and enjoy life can be a reality when the entrepreneurs are committed to their passions. Cheer up and be courageous! BC

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ThebuddingEntrepreneurs

The web entrepreneur After several failed attempts at realising a dream of becoming an entrepreneur of repute, Jason Njoku, a Chemistry graduate from Manchester University by chance stumbled on a lifetime business opportunity which in two years got his name on the prestigious young millionaire list of Forbes magazine. iROKOPartners, brainchild of this British -Nigerian national, is believed to be worth $30 million at the moment. By Adejuwon Osunnuyi

ason Njoku, 31, launched out into the business world very early in life. Njoku, who describes himself as the hardest working man you ever met, belligerent, dynamic, and focused, grew up in a working class area in South East London and went to a comprehensive school. He was the first person in his family to ever attend a university. He graduated with a degree in Chemistry from the University of Manchester in 2005. His ambition was to become self reliant and in search of fulfilment, he tried his hands on not a few businesses which include among others blog network, publishing, a T-shirt company and web design venture. But he failed to make impact in all these and the reason for these failures is simple- he lacked the necessary experience as an aspiring entrepreneur to run a viable business and on the other hand, he failed to hit the target. Njoku shared his own personal story about failure, mistakes and success. “I spent good three years making every mistake there was to make about how to run a business”, he said. “I ran out of friends who would lend me money. I was forced to stop”. At a point, he was forced to move in with his mum, an action which he described as humiliating. Incidentally, that decision to go back home to share a flat with his mother turned his life around. He noticed a paradigm shift in her mother’s TV viewing habits from western movies especially Eastenders (a long-running popular UK soap opera) to watching Nigerian movies (Nollywood films). Njoku, an internet geek would then offer to help her mother source for Nollywood movies on

the internet and other sources but realised the films were in short supply. Interestingly, Njoku’s passion for the internet, coupled with the discovery he made that Nollywood was not properly distributed among the Diaspora, ultimately led to the birth of iROKOtv in 2010. Njoku’s immediate response to the opportunity that threw itself at him in the process of helping his mother get a nice time at home was to cash in on the opportunity. His idea was to create a service company which will stream Nollywood movies online, so they are accessible to anyone with an Internet line, anywhere in the world. That was the beginning of iROKOPartners, now a multimillion dollar global business which took off from Njoku’s bedroom. Couple of months after the project started, Njoku then realised that operating from a bedroom would not take him anywhere, and he decided to give it all it takes. “Yes, I could watch a bunch of Nollywood movies on DVDs at home, no problem. But to actually purchase the movies and have knowledge of the industry, which is quite fragmented, I had to totally immerse myself in the arena”, he confessed. Njoku however took the ultimate decision about the new business in 2010 when he decided to leave his mother in England to return to Lagos to pursue his dream. Though he was criticised at the time, the move eventually proved to be the smartest he ever made. On arrival in Nigeria, he made up his mind to drop the toga of having studied in the United Kingdom to mix freely with operators in the Nigerian film industry so as to make quick progress.

Njoku

“Nollywood moves at lightning speed and business are conducted fairly informally, so being thousands of miles away at the end of a phone line was never going to work. I had to be

in Alaba Market, where the business of Nollywood is conducted. I had to be on movie sets, I had to be building relationships—so I got on a plane and moved to Lagos,” he confesses.

The success which Jason Njoku had envisaged that made him quit the shores of England for Nigeria has not been elusive as the simple dream of making available Nollywood films avail-

Management Principles

Principles of entrepreneurship

ho can become an entrepreneur? There is no one definitive profile. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and “smarts.” *Creativity is the spark that drives the development of new products or services or ways to do business. It is the push for innovation and improvement. It is continuous learning, questioning, and thinking outside of prescribed formulas. *Dedication is what motivates the entrepreneur to work hard, 12 hours a day or more, even seven days a week, especially in the beginning, to get the endeavour off the ground. Planning and ideas must be joined by hard work to succeed. Dedication makes it happen. *Determination is the extremely strong desire to achieve success. It includes persistence and the ability to bounce back after rough times. It persuades the entrepreneur to make the 10th phone call, after nine have yielded nothing. For the true entrepreneur, money is not the motivation. Success is the motivator; money is the reward. *Flexibility is the ability to move quickly in response to changing market needs. It is being true to a dream while also being mindful of market realities. A story is told about an entrepreneur who started a fancy shop selling only French pastries. But customers wanted to buy muffins as well. Rather than risking the loss of these customers, the entrepreneur modified her vision to accommodate these needs. *Leadership is the ability to create rules and to set goals. It is the capacity to follow through to see that rules are followed and goals are accomplished. *Passion is what gets entrepreneurs started and keeps them there. It gives entrepreneurs the ability to convince others to believe in their vision. It can’t substitute for planning, but it will help them to stay focused and to get others to look at their plans. *Self-confidence comes from thorough planning, which reduces uncertainty and the level of risk. It also comes from expertise. Self-confidence gives the entrepreneur the ability to listen without being easily swayed or intimidated. *“Smarts” consists of common sense joined with knowledge or experience in a related business or endeavour. The former gives good instincts, the latter, expertise. Many people have smarts they don’t recognize. A person who successfully keeps a household on a budget has organizational and financial skills. Employment,

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ThebuddingEntrepreneurs able online for Nigerians in the Diaspora has grown beyond his imagination in just two years. This is because, the company which was established in September 2010 with its headquarter in Lagos, Nigeria, now has a branch in London, United Kingdom. Today, iROKO Partners, besides movie streaming, now offers a range of online products including web named iROKOtv focused on Nollywood Film productions, and ‘IROKING’, a Nigerian music streaming platform. Other web brands floated by Njoku and his partners at iROKOPartners include iROKtv, NollywoodLove and YorubaLove which operate on the YouTube video platform. iROKOPartners, according to reliable sources, is the largest licensor and leading distributor of Nollywood movies (both English and Yoruba) online. A smart entrepreneur, Jason Njoku, going by experience realised that for him to go very far with this new business concept, he would need people who believe in his idea to fly, so he readily accommodated a friend, Bastian Gother, who, according to him, having realised the hidden potential lurking in the dream at the very early stage of the business, offered to invest in the business. He invested his life savings, of about $100,000 into the company and from there, the business took off. They were able to buy films and IT equipment as well as invest in the infrastructure needed. However, the major financier of the business has been a US-based

Njoku

hedge fund, Tiger Global, which invested a whopping $8 million in the dream of Njoku. This was what he told Forbes.com about how he was able to get the attention of Tiger Global to boost his business. “Strangely enough, I never wrote a business plan. I never had to pitch to any VCs. I wasn’t even fundraising. After our story was told by Sarah Lacy (formerly of Techcrunch), FORBES, CNBC Africa, Variety and CNN we were inundated with funding inquiries and offers. All inbound. Tiger Global Management, a $9 billion NYC based venture and private equity fund, led the round; they believed [in] our vision. A very simple vision: bringing Nigerian entertainment online. I have always been of the opinion

education, and life experiences all contribute to smarts.Every entrepreneur have these qualities in different degrees. But what if a person lacks one or more? Many skills can be learned. Or, someone can be hired who has strengths that the entrepreneur lacks. The most important strategy is to be aware of strengths and to build on them. What leads a person to strike out on his own and start a business? Perhaps a person has been laid off once or more. Sometimes a person is frustrated with his or her cur-rent job and doesn’t see any better career prospects on the horizon. Sometimes, a person realizes that his or her job is in jeopardy. A firm may be contemplating cutbacks that could end a job or limit career or salary prospects. Perhaps, a person already has been passed over for promotion. Perhaps, a person sees no opportunities in existing businesses for someone with his or her interests and skills. Some people are actually repulsed by the idea of working for someone else. They object to a system where reward is often based on seniority rather than accomplishment, or where they have to conform to corporate culture. Other people decide to become entrepreneurs be-cause they are disillusioned by the bureaucracy or politics involved in getting ahead in an established business or profession. Some are tired of trying to promote a product, service, or way of doing business that is outside the mainstream operations of a large company. In contrast, some people are attracted to entrepreneurship by the advantages of starting a business. These include: *Entrepreneurs are their own bosses. They make the decisions. They choose whom to do business with and what work they will do. They decide what hours to work, as well as what to pay and whether to take vacations. *Entrepreneurship offers a greater possibility of achieving significant financial rewards than working for someone else. *It provides the ability to be involved in the total operation of the business, from concept to design and creation, from sales to business operations and customer response. *It offers the prestige of being the person in charge. It gives an individual the opportunity to build equity, which can be kept, sold, or passed on to the next generation. * Entrepreneurship creates an opportunity for a person to make a contribution. Most new entrepreneurs help the local economy. Some people evaluate the possibilities for jobs and careers where they live and make a conscious decision to pursue entrepreneurship. No one reason is more valid than another; none guarantee success. However, a strong desire to start a business, combined with a good idea, careful planning, and hard work, can lead to a very engaging and profitable endeavour. BC

if you build something totally awesome. Investors will find you.” Of course, the impact of the investment of Tiger Global in iROKOPartners, according to Njoku has been tremendous as the company has grown into a full-fledged business with over 110 staff in offices across three continents - Africa, Europe, and North America. “It’s grown into a fully-fledged company very quickly,” adds Njoku, “thanks to the hard work of a brilliant team and also thanks to external funding we received from the US-based Hedge fund, Tiger Global. Much of the $8 million we secured has been ploughed into building the company, purchasing content (movies and music), hiring new staff to focus heavily on business development and setting up international offices in London and New York. With his eyes set on a remarkable future, Jason says he is exploring the possibility of moving into the TV and cable channel arena in the US, which is currently his biggest market. “We’re also looking at other African entertainment markets, seeing whether or not they would benefit from the same sort of interactive, simple and internationally popular platform we’ve provided Nollywood with. Though the future is still some distance ahead, the present has been very rosy for Jason Njoku and his partners, as the business has dealt fairly well with them. The immediate evidence of prosperity from the business is his recognition as one of Africa’s 10 youngest million-dollar entrepreneurs as published by Forbes Magazine recently. Being a private company, he would not declare the worth of iROKOPartners but he gave insight into the company’s financial strength by simply reeling out available figures. “As a private company, we can’t really disclose revenue at the moment, but I can share some impressive data: We reached 560,000 registered users in less than seven months. We have viewers in 178 different countries. Eighty-one percent of our registered users return weekly. We have streamed more than 10 million hours worth of film. Forty-five percent of our traffic comes from the UK and U.S. We have had more than 13 million visits from over 2.5 million unique visitors”, he disclosed. Meanwhile, the major source of revenue for the business at the moment as disclosed by Njoku, is corporate advertisement. But a new line of income has been created which bothers on getting viewers to subscribe for latest movies for only five dollars per month. “Nollywood films plus online distribution equals big money”, Njoku enthused. The story of Njoku remains a classic case of several unsung, highly enterprising and stupendously rich Nigerian budding entrepreneurs. BC

Personal Finance Entrepreneurs major shortfalls

ou have an idea for a new business and the wheels are in motion. You are certain that this is the business idea that will change your life and you are ready to take the next step. As an entrepreneur, you are aware of all the risks but are also encouraged by the potential financial reward and success. There is no official entrepreneurial handbook to follow to ensure your idea will take off, but there are several big mistakes you can avoid when getting your business off the ground. Not having a business plan: A business cannot survive without a detailed assessment of all of its requirements. Before launching your business, write up a business plan complete with long- and short-term goals, financial objectives and projected overhead costs. Ask and answer all of the questions you may have, such as: •What obstacles will you face? •How will you raise capital? •Where do you see your company in the future? A business plan is the best way to flesh out all of the details before taking all of the risks. Potential investors will also want to see your business plan before making any decisions to support your endeavours. A detailed business plan will not give you a glimpse into the future, but it will help you determine if your business will have legs. Focusing too much on your product: You love your idea. You may care for it as if it was your own child, but you need to consider sales, marketing and promotion ideas once you are ready to move forward. Ask yourself: Who will buy your idea? Is there a large enough audience interested? How will you reach them? Do you need to tweak your idea at all to give it more mass appeal? As an entrepreneur, you need to consider all aspects of your business and not just the idea itself. Take a step away and try to look at the business objectively. Find your niche, find your audience, and get your message out there. Making it all about the money: You may have received a generous amount of funding from investors, or there may be an initial burst of interest that sparks new found cash flow. Still, you must remember to stay within your means and think before you spend. Pay your employees, cover your costs, pay yourself (enough to live and eat), and then reassess. Reassessing your business means you should consider: Hiring more employees or scaling back, looking at your overhead and see if it needs any adjustments, upgrading your technology and increase your advertising budget. If you are experiencing good fortune, reinvest into your business so it will thrive. The new car, new house, overthe-top advertising campaigns, extravagant client parties, and lavish vacations can wait. Take care of the business so it will take care of you. Hiring the wrong people: Your good friends provide you with support, camaraderie, advice, and even good business partners. Conversely, your friends may not always be the best employees. Your best friend may know the best jokes, but does he know anything about marketing? Can he handle the finances or the advertising? The best businesses hire the best-qualified employees, so take careful consideration in how you staff your company. Starting your own business is not a game. You should be able to enjoy the process, but not at the expense of losing everything by making poor employee choices. Hire friends with the strongest qualifications, employ the right applicants for other positions, and keep your other friends on hand for moral support. Ignoring the legal aspects: Early on in your venture, you may unwittingly make legal errors. As your business progresses, these issues can snowball and create even larger, insurmountable problems that will deter success. Hire a qualified attorney at the onset and let him/her address all of your legal concerns. Your attorney will be there to answer your questions, deal with the legal problems, and navigate your business through any choppy waters. You will inevitably have missteps along the way, but learn from the mistakes and use them to improve your business. Know that you have done the research, made the best-informed decisions, prepared yourself sufficiently, and once in a while allow yourself to let the chips fall where they may and then react accordingly. BC

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Behind d Wheels This page is open to sponsorship

By Adejuwon Osunnuyi

he 2016 Explorer has been a juggernaut for Ford ever since the first one rolled off the assembly line and helped ignite the SUV boom at the dawn of the 1990s. Derived from the Ranger compact pickup, the original Explorer was a compromised vehicle, but it was wildly popular—and remained so despite a spate of deadly rollover crashes caused by faulty Firestone tires. Explorer sales finally began to trail off as buyer preference shifted to car-based crossovers. But when the Explorer followed suit, trading its body-on-frame architecture for unibody construction for the 2011 model year, sales rebounded. And despite increasing competition, sales have increased in each of the last five years. The model is currently America’s most popular threerow SUV. For 2016, the Explorer gets its most significant update since 2011, but it’s not a complete redesign. The changes include new front and rear styling, a new topspec trim level, and some new equipment. Mechanically, its most significant change is the arrival of a new EcoBoost fourcylinder engine.

The 2.3-liter EcoBoost replaces the previous 2.0-liter, which had been an extracost option over the standard 3.5-liter V-6 but has had a miserable take rate running between two and four percent. Why does Ford think it will be different this time? Several reasons: First, the 2.3-liter’s 280 horsepower and 310 lb-ft of torque represent increases of 40 horsepower and 40 lb-ft over the smaller EcoBoost four. Second, unlike the 2.0-liter, the 2.3-liter will be available with all-wheel drive as well as front-wheel drive. And finally, where the 2.0 was not recommended for towing, the 2.3 can tow up to 3000 pounds. Test driving the 2.3-liter with both front- and all-wheel drive, it was discovered that this EcoBoost four was up to the task of moving the hefty Explorer. Offthe-line acceleration—say, jumping out into traffic—is a little tepid, but once you’re up to 30 mph or so, the Explorer moves along pretty well, and highway passing is no problem. The EcoBoost doesn’t sound particularly great when you’re caning it, but it does not appreciably change the character of the otherwise quiet Explorer. Whether buyers will want to spend $995 for the four-cylin-

der’s superior fuel-economy ratings over the naturally aspirated V-6 is another question. The V-6, with 290 horsepower and 255 lb-ft of torque, continues as the standard offering in base, XLT, and Limited models. At 19/28 mpg (FWD) and 18/26 mpg (AWD), the turbo four beats the V-6 by 2 mpg in the city and 4 on the highway in front-drive applications and by 2 mpg city and 3 mpg highway with four-wheel drive. At the other end of the engine

spectrum sits the twin-turbocharged, 365-hp EcoBoost V-6, and Ford is wisely making that engine more widely available for 2016. Paired exclusively with allwheel drive, the turbo V-6 previously was exclusive to the Sport but is now found under the hood of the new Platinum edition, as well. Besides the EcoBoost V-6, the Platinum gets unique trappings inside and out that include a chrome-mesh grille and quilted leather upholstery. (Some might see these as another example

of Ford design’s obsession with Bentley.) It also comes standard with everything you can get on an Explorer—a fact that’s reflected in its eye-opening price of $53,495. Ford, however, says that the vast majority of Sport buyers were opting to go all-in on that model, so they figure the market is there for a loaded-up Explorer with the top-spec powertrain but without the sporting pretension. In fact, with the Platinum catering to the gimme-an-Explorer-

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Behind d Wheels This page is open to sponsorship

Autocare Five must-have car accessories

he best car accessories combine efficiency with style, and can make the daily commute and longer drive much more enjoyable. Options range from integrating a number of different accessories through a dock, to more elaborate remote start technology, and including pressure washers, security and air conditioning accessories. When choosing these kinds of accessories, it is important to focus on ones that actually make a car more practical, and that have long lasting uses beyond novelty value. Car dice and any purely stylistic alterations have consequently been excluded, albeit with the admission that they can be a great way to add personality to a vehicle. In terms of essential value though, these accessories should be considered:

with-everything crowd, Ford has been able to make the Sport a bit, well, sportier. The spring rates and dampers have been stiffened, and the steering retuned slightly. We can’t say the changes have been transformative, however. Our experience on the curvy roads in the hills east of San Diego showed the Sport to be pretty much as we remembered: a surprisingly good handler for such a big boy—although the same actually can be said of the standard-issue Explorer. Nor have the suspension tweaks appreciably diminished the Sport’s ride quality, which remains quite good even on 20-inch rolling stock. The turbo V-6’s 350 lb-ft of torque continue to make it one of the most potent engines available in a three-row crossover. Its overly aggressive throttle tipin is hardly necessary to create the impression of strong performance; the last time we tested

an Explorer Sport, we measured a zero-to-60 time of 5.9 seconds, and the new one should fare similarly. That’s plenty quick enough to get the kids to soccer practice on time. The Platinum comes with everything but, commendably, buyers don’t need to step up to the Platinum to get many key features. Starting with the basics, all-wheel drive is available on every version. Leather, navigation, and blind-spot warning are available on the XLT and higher, and the same applies to a choice of a bench or buckets in the second row. Lane-keep assist and adaptive cruise control with forward-collision warning are optional on Limited and Sport. New features for 2016 include a hands-free power liftgate, washers for the 180-degree front and rear cameras, and additional functionality for the available automatic parking system.

While the interior of Platinum models is awash in fancy trim, with real wood, matte aluminum, and glossy plastic featuring prominently, lesser Explorers have seen a mild revision, too. Redesigned door panels have a more comfortable armrest, and the dash trim is nicer. But some of the Explorer’s packaging limitations remain. Despite a reworked driver’s dead pedal— which moves forward and changes its angle—the wheel-well intrusion is still pronounced, making for a somewhat awkward driving position. A high cowl and wide, flared A-pillars can make one feel buried in the car. Ford has carved out a bit more knee room in the second row thanks to slimmer front seats. The third row remains one of the best in its field, although it’s strictly for two, whereas some competitors (rather optimistically) have seatbelts for three. The cargo hold behind the split third row is also better than most, thanks to a well in the floor. Many still prefer the slightly better packaging and sleeker profile of the Explorer’s sister model, the Ford Flex. The Flex doesn’t get treated to any of the updates visited upon the Explorer this year, but it does offer buyers a way to get the EcoBoost V-6 for slightly less: A Flex Limited with EcoBoost costs $43,795, versus $44,195 for an Explorer Sport, and the Flex comes with navigation and blind-spot warning that are optional on the Sport. But in terms of sales, the Flex is no Explorer. With the exception of fashion-forward California—and Ford’s home base in Detroit—the Flex doesn’t sell. The Ford Explorer is the SUV everybody wants. The 2016 changes should help keep Ford’s SUV juggernaut rolling, maintaining its position as one of the popular, and profitable, pillars of the company’s lineup. BC

All in One Dock It is much easier to combine a range of different entertainment and communication features into a single dock, rather than trying to integrate different ports and sensors. An entertainment dock that is either directly attached to a car stereo, or connected to wheel controls, can be used to coordinate Bluetooth devices like GPS, and enhance satellite radio. An all in one dock can similarly be used to act as a mount for a smart phone, which can run many of these features through its own operating system. More advanced docks can also be used to wirelessly connect to satellite television and rear seat DVD players, while also helping with general driving performance. Remote Start Buttons that allow you to start up a car while still at a distance can be valuable if you need to heat up the engine before approaching the car. A remote start button can also activate a dock system, and can ensure that the car is ready to go when you get into it. While the device ultimately means that you only save a few minutes of time, this can be a luxury that means you spend less time fiddling around with controls before each journey. A remote start function can also be installed through an iPhone. Improved Security Adding more advanced security features through accessories is always going to add value to your car, while providing you with peace of mind. Again, Bluetooth enabled technology can allow you to run a number of different security features through a single dock. Key security options to consider include mobile identification, as well as tracking sensors and deadlocks. Other security systems can monitor for changes in tyre pressure and car weight. Pressure Washer A hand held pressure washer represents an excellent accessory if you want to skip a visit to the car wash for a full clean, and want a quicker wash than a bucket and pad. A high quality pressure washer can be used to quickly scrub down and spray your car, and uses a range of detergents and buffers to make sure that you get a high quality wash. Air Conditioner Features Air conditioning is regularly ranked as the most important accessory that every car should have. Versatile and able to adjust to changes in temperature and pressure, a good air conditioning system can either be included as standard with a car, or can be added. Cutting edge air conditioners can deal with changes in heat and pressure in more precise ways than older models, and can also help to evaporate moisture and control humidity. BC

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REGULATORS

PenOp promise adherence to ethical conduct in pension mgt

he Pension Fund Operators Association of Nigeria ,PenOp, said it is highly committed to ensuring that pension funds are properly managed for the benefits of workers that have embraced the Contributory Pension Scheme ,CPS. The Executive Secretary, PenOp, Ms Susan Oranye, who disclosed this at the launch of the Assets Managers Code of Professional Conduct by the CFA Institute in Lagos, noted that due to the importance pension fund operators place on investors, PenOp partnered the Fund Managers Association of Nigeria ,FMAN to co-sponsor the event with the aim of ensuring that assets managers demonstrate their commitments to ethical behaviour and protection of investors rights. “The CFA Institute in Nigeria is celebrating what it called putting investors first, and to

celebrate and highlights the importance we placed on investors, they have launched today May 27, what is called assets managers code of professional conduct. What this code, which is focused on assets and investment managers does, is that it aligns the ethical and professional responsibilities of firms, managers that manage assets on behalf of clients. By adopting and enforcing this code of conduct for their organizations, managers demonstrate their own commitments to ethical behaviour and protection of investors’ rights,” she pointed out. PenOp, she said, co-sponsored this event with FMAN because there was extremely high focus on how the assets under management in the pension industry are being invested. For us, this was timely initiative where we could support the structuring of the system that encourages ethical con-

duct in investment and assets managers, she noted. She noted that since pension operators manage the funds of 6.4 million contributors by investing the funds, it becomes necessary for them to ensure

that the different team spread across the pension industry and the different groups or team and other stakeholders groups that handle and invest these pension funds, adhere to the highest standard of ethical

conduct. Oranye disclosed that PenOp was delighted in co-sponsor the event with FMAN, due to the role the CFA society of Nigeria plays in issuing code of conduct and trainings. BC

Microinsurance not conventional insurance says NAICOM

he National Insurance Commission, NAICOM, said micro insurance is entirely different from conventional insurance, adding that those that want to play in the microinsurance subsector of the insurance industry must be ready to make its product simple, affordable and valuable. Deputy Director Authorisation and Policy, NAICOM, Mr. Leo Akah, said most people who applied for microinsurance licence from the commission still see micro-insurance from the point of view of conventional insurance, promising that NAICOM will ensure that all the strict guidelines in the policy would be complied with before approvals. According to him, “We have a list of the requirements for

Fola Daniel, NAICOM boss

registering either as full-fledged or as a window operation and the commission will be releasing the stages of approval to the general public. We have many applications and where the problems lie is the products, because being a new line of business; most people are still looking at micro insurance with the eye of a conventional insurance.” Every micro insurance product, he noted, must be simple, valuable and affordable in nature, stating that ‘not until we see and are convinced, any product that is being presented and does not meet these requirements, we would be reluctant to approve their products.’ He disclosed that NAICOM currently have 10 applications and will be meeting with the promoters to know who they are, and whether they are fit and proper persons. This process is not going to be a one-off thing, he said. The commission has recently unveiled a guideline for micro insurance business in the country, calling on interested investors to submit application to it. Micro-insurance policies, according to the commission, covers little risks and therefore, exclude special risks like motor insurance ,except tricycles and motorcycles, professional indemnity and other pecuniary risks with sums insured higher than N1 million. BC

L-R: Head of Government Affairs, West Africa Area, British American Tobacco (BATN), Odiri Erewa-Maggison; Head of Legal and External Affairs, Freddy Messanvi; Area Head of Corporate Affairs, Oluwaseyi Ashade; and Head of Litigation and Regulation, Sola Dosunmu during a media parley in Lagos recently.

PTAD to verify Civil Service Pensioners

he Pension Transitional Arrangement Directorate, PTAD has said that it has expunged about 15,000 nonexistent pensioners from the payroll. The PTAD which was established to manage pensions under the Defined Benefits Scheme, DBS, has also commenced Nationwide Biometric Capture and Verification of Pensioners in a bid to sanitise the system. Director Civil Service Pen-

sion Department of the agency Godson Ukpevo, giving scorecard of the agency further disclosed that field verification of 18,332 police pensioners has been concluded and that an interim report indicated existence of over 3,000 ghost pensioners. The Director stated that despite resistance experienced by the agency to return to the discredited DBS it has concluded plans to commence verification of civil service pensioners. He said, “PTAD has signifi-

cant improvement in relationship with key stakeholders such as the supervisory and regulatory authorities and the unions, stronger collaboration with EFCC, ICPC and the Police tackling fraud”. Ukpevo also informed that as part of its mandate to make the system fraud free, all pensioner data are captured and can be centrally accessed and has automated benefit re-computation for all pensioners with enhanced database security. BC

NCC puts Nigeria’s broadband penetration at 10%

xecutive Vice Chairman, Nigerian Communications Commission, NCC, Dr Eugene Juwah, has said the current broadband penetration in the country stood at 10 per cent. Juwah made this known at the Digital Sense Forum Series 2015, with the title: ‘IPv6 and Broadband Penetration’, organised by Digital Sense Africa ,DSA, Media in Lagos on Friday. Juwah, who spoke through Mr Tony Ojobo, the NCC’s Director, Public Affairs, said the country’s target was to achieve about 30 per cent penetration by 2018. According to him, the na-

tion’s ability to meet this target depends on infrastructure deployment being encouraged by the commission, via various initiatives. He said there was a strong correlation between broadband penetration and the economy, which made every effort towards broadband a compelling case. ``Nigeria is one of the nations with the fastest in telecommunications. Our growth in the sector is regarded as a revolution, given the speed with which we grew from 2001 from about 400,000 telephone lines to now 145.5 million, as at April 2015. ``On the internet, more than

83 million Nigerian subscribers have access to the internet. So, the nation is as connected to the internet as most other parts of the world. ``Nigeria has great prospects and potentials for broadband, hence, the availability of a new internet addressing system in Internet Protocol version six (IPv6), means that these potentials can be harnessed, as the nation continues to grow its broadband penetration,’’ Juwah said. He explained that IPv6 was an aspect of one of the solutions which evolved out the many efforts to propagate internet penetration and adoption. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, June 8, 2015

A21 37

Zenith, UBA shed 11% in one week By Johnson Okanlawon

enith Bank, United Bank for Africa and Diamond Bank dropped substantial value in equities on the Nigerian Stock Exchange last week, despite the volume of trades in the stocks respectively. Specifically, Zenith Bank fell the highest with 6.85 per cent to close at N19.97 per share on Friday from the opening figure of N21.44 per share it opened the preceding week. Though the bank shares led the gainers’ table on Friday, it failed to prop up its stock for the week. Also, Shares of United Bank for Africa depreciated 4.63 per cent to close at N5.15 per share on Friday, from the opening figure of N5.40 the preceding week, while Diamond Bank shrank marginally by 0.22 per cent to close at N4.44 per share. Trading in the three banks, measured by volume, accounted for 357.004 million shares worth N4.033 billion in 3,021 deals, contributing 29.23 per cent and 23.77 per cent to the total equity turnover volume and value respectively. The Financial Services Industry (measured by volume) led the activity chart with 935.233 million shares valued at N9.258 billion traded in 11,066 deals; thus

NSE trading hall

contributing 76.58 per cent and 54.58 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with a turnover of 77.298 million shares worth N5.048 billion in 3,144 deals. The third place was occupied by the Conglomerates Industry with 47.348 million shares worth N228.761 million in 1,182 deals. A turnover of 1.221 billion shares worth N16.964 billion in 19,847 deals were traded last week by investors, in contrast to a total of 1.799 billion shares valued at N22.105 billion that exchanged hands the preceding week in 17,337 deals. On the whole, the NSE All-

Share Index and Market Capitalization depreciated by 1.88 per cent and 1.44 per cent to close on Friday at 33,664.91 and N11.491 trillion respectively. Similarly, four indices finished lower during the week, while NSE Consumer Goods, NSE Lotus II, NSE Industrial Goods Indices closed higher by 0.08 per cent, 0.37 per cent and 0.16 per cent respectively. Investment analysts at Meristem Securities Limited attributed the negative market mood to higher profit taking activities, over bargain hunting due to investors’ wariness in the absence of a clear direction of investment related policies by the new administration. BC

Market Indicators for Week Ended 05-06-15 All-Share Index 33,466.41 points Market Capitalization 11,500,028,418,342.31

NASD OTC REPORT 1 OUTSTANDING OFFERS AND BIDS ON NASD OTC Outstanding deals since April, 2015. Security Industry SD ACORN PETROLEUM PLC Oil & Gas SD ARM LIFE PLC Financials SD ARM PROPERTIES PLC Financials SD AFRILAND PROPERTIES PLC Financials SD BGL PLC Financials SD CAPPA AND D'ALBERTO PLC Industrials SD CENTRAL SECURITIES CLEARING SYSTEM PLC Financials SD DUFIL PRIMA FOODS PLC Consumer Goods SD FRIESLAND CAMPINA WAMCO NIGERIA PLC Consumer Goods SD FOOD CONCEPTS PLC Consumer Services SD GEO-FLUIDS PLC Industrials SD GOLDEN CAPITAL PLC Financials SD INDUSTRIAL & GENERAL INSURANCE PLC Financials SD JAIZ INTERNATIONAL PLC Financials SD NIGER DELTA EXPLORATION & PRODUCTION PL Oil & Gas SD PARTNERSHIP INVESTMENT COMPANY PLC SD RESOURCERY PLC SD RIGGS VENTURES WEST AFRICA PLC SD SPRING MORTGAGE PLC SD SWAP TECHNOLOGIES AND TELECOMMS PLC

RUSTRUSTBOND MORTGAGE BANK PLC

Financials Technology Industrials Financials Technology Financials

Nominal value (₦) 0.50 0.50 0.50 0.50 0.50 0.50 1.00 0.50 0.50 0.50 0.50 0.50 0.50 1.00 10.00 0.50 0.50 0.50 0.50 0.50 1.00

Last Offer Date 5-Jun-15 20-May-15 1-Jun-15 16-Apr-15 5-Jun-15 2-Jun-15 14-May-15 5-Jun-15 5-Jun-15 4-Jun-15 27-May-15

Offers Volume Last Offer Price Last Bid Price offered 1,249,800 1.44 0.57 2.50 12,500 5.20 4.55 9.00 66,457 320.00 295.00 ########### 0.60 0.65 675,732 0.73 1,137,050 0.18 50,000.00 0.85 30,000 243.40 ########### 1.09 886,800 2.17 ########### 1.20 -

2 DEMATERIALISATION AND CUMULATIVE TRADE IN OTC SECURITIES 5-Jun-15

Security Industry SD ACORN PETROLEUM PLC Oil and Gas SD ARM LIFE PLC Financials SD ARM PROPERTIES PLC Financials SD AFRILAND PROPERTIES PLC Financials SD BGL PLC Financials SD CAPPA AND D'ALBERTO PLC Industrial SD CENTRAL SECURITIES CLEARING SYSTEM PLC Financials SD DUFIL PRIMA FOODS PLC Consumer Goods SD FRIESLAND CAMPINA WAMCO NIGERIA PLC Consumer Goods SD FOOD CONCEPTS PLC Consumer Services SD GEO-FLUIDS PLC Industrial SD GOLDEN CAPITAL PLC Financials SD INDUSTRIAL & GENERAL INSURANCE PLC Financials SD JAIZ INTERNATIONAL PLC Financials SD NIGER DELTA EXPLORATION & PRODUCTION PL Oil and Gas SD PARTNERSHIP INVESTMENT COMPANY PLC Financials SD RESOURCERY PLC Technology SD RIGGS VENTURES WEST AFRICA PLC Industrial SD SPRING MORTGAGE PLC Financials SD SWAP TECHNOLOGIES AND TELECOMMS PLC Technology RUSTRUSTBOND MORTGAGE BANK PLC Financials

Bids Volume Bidded Last Bid Date 100 5-Jun-15 702,000 2-Jun-15 50,000 1-Jun-15 558,480 5-Jun-15 60,000 4-Jun-15 50,000 2-Jun-15 -

TRADE INFORMATION (JAN 2015-TILL DATE)

DEMATERIALISATION INFORMATION

Introduced by Company Registrars Meristem Securities Limited CardinalStone Registrars Limited APT Securities & Fund Limited African Prudential Registrars Plc Mega Equity Limited African Prudential Registrars Plc APT Securities & Fund Limited African Prudential Registrars Plc Nigerian Int. Securities Ltd Unity Registrars Limited UBA Stockbroking Firm African Prudential Registrars Plc Greenwich Securities Limited African Prudential Registrars Plc Anchoria Investment & Securities LimNnenna Ejekam Associates Capital Bancorp Plc First Registrars Limited Stanbic IBTC stockbrokers limited Meristem Registrars Limited Icon Stockbrokers Limited Meristem Registrars Limited Sterling Capital Market Limited African Prudential Registrars Plc Greenwich Securities Limited GTL Registrars Limited APT Securities & Fund Limited African Prudential Registrars Plc FCSL Asset Management Co. Limited United Securities Limited APT Securities & Fund Limited First Registrars Limited APT Securities & Fund Limited EDC Registrars Limited APT Securities & Fund Limited Mainstreet Bank Registrars Limite Primera Africa Securities Limited PAC Registrars Limited Signet Investment and Securities Limi PAC Registrars Limited Prominent Securities Limited United Securities Limited

Year end 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Mar 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec 31/Dec

Total Share Capital Volume % '000 Dematerialised Dematerialised 2,000,000,000 5,785,673,000 1,900,000,000 1,249,000,000 12,000,000,000 196,875,000 5,000,000,000 6,753,333,334 976,335,936 5,650,000,000 4,257,668,000 1,170,324,536 14,231,238,000 11,829,700,000 181,408,000 2,875,595,000 2,576,686,039 880,394,000 7,138,199,210 2,705,378,000 10,945,334,000

40,557,346 606,000,000 10,860,642 72,428,500 407 38,232,855 167,086,296 83,817,426 550,329,772 65,087,688 910,777,810 1,206,500 5,530,300 43,831,878 516,100,000 14,750,000 84,717,205

100,303,142,055 3,211,314,625

2.03% 10.47% 0.00% 0.87% 0.60% 0.00% 0.76% 0.00% 17.11% 1.48% 12.93% 5.56% 6.40% 0.01% 3.05% 1.52% 20.03% 0.00% 0.00% 0.55% 0.77% 3.20%

DEALS 12 5 5 1 49 236 51 12 16 9 29 6 12 15 458

If you do not see your unquoted Plc on this list or for further enquirys consult your NASD OTC participating broker or visit our website at www.nasdng.com

VOLUME 9,710

VALUE (₦) 23,440.70

118,417 271,718.25 6,300 18,900.00 303 30,300.00 12,433,280 58,507,138.00 4,080,571 1,238,312,705.13 6,286,650 3,346,712.50 10,787,938 16,065,689.62 108,910,600 109,992,948.00 2,250 1,912.50 974,205 212,425,802.25 1,900 2,660.00 112,400 110,044.00 15,560 35,607.30 143,740,084 1,639,145,578.25

A22 38

Business Courage

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Nestle Nigeria records 50.8% profit decline in Q1

estle Nigeria first quarter, Q1, 2015 results showed declines across all key P&L line items with sales of N27.6bn, a decline of 18 per cent when compared with Q1 2014. Profit before tax, PBT, dropped by 50.7 per cent to N3.487bn, while profit after tax, PAT also crashed by 50.8 per cent to N2.954bn. A significant, 230 per cent y/y rise in finance costs more than offset any benefits accruing from an 8 per cent y/y decline in opex. On an annualised basis, Nestlé’s sales and PBT track well behind consensus full year 2015 estimates of N156.3bn and N28.9bn respectively. According analysts this set of results may spark a sell-off and consequent re-pricing of the stock. 2014 full year The company’s full-year results for the 12-month ended December 31, 2014, reported turnover increase by 8 percent to N143.328bn from N133.084bn in 2013. Profit before taxation, PBT, dropped by 6 percent to N24.445bn from N26.047bn in 2013. Profit after taxation, PAT, dropped by 0.1 percent to N22.235bnfrom N22.258bn in 2013. The company recorded 567 percent rise in interim dividend payout in 2014, valued at N7.926bn against N1.188 billion in 2013. Its total dividend payout rises by 8 percent, to N21.798bn against N20.212bn in 2013. This of cause has affected its share price, dropping 21.4

per cent year to date to close at N820.00 per share, from N995.60 per share at which it opened for trading on January this year. The company earned N21.26 per share at the end of the third quarter of 2014, earned N28.07 per share at the end of 2013 and paid a total cash dividend of N24.0 per share. Earnings per share stood at N26.67 in 2012, representing an increase of 28 per cent on N20.81 recorded in 2011. Gross dividend increased by 59 per cent from N9.95bn for 2011 to N15.8bn for 2012, representing dividend per share of N20 for 2012, as against N12.55 distributed in 2011. Structure Nestle Nigeria engages in the manufacturing, marketing and distribution of food products including purified water throughout the country and West Africa. The company operates in two business segments: food and beverages. Its food segment includes the production and sale of Maggi, Cerelac, Nutrend, Nan, Lactogen and Golden Morn. Its beverages segment includes the production and sale of Milo, Milo Ready to Drink, Chocomilo, Nido, Nescafe, Nestle Pure Life among others. Business strategy To stimulate industrial growth, the company has long term sustainable business practices. Almost all of the company’s key ingredients are sourced locally through farmers and suppliers where available. In addition to its commitment to local sourc-

Dharnesh Gordhon, Nestle Nigeria Managing Director

ing of raw agricultural materials, the Company is involved in two major initiatives in the agricultural sector. In 2011, Nestle Nigeria commenced a new project to help farmers increase output and quality of cassava starch production in collaboration with the International Institute of Tropical Agriculture (IITA) in Ibadan. The project is aimed at increasing productivity per hectare in cassava through multiplication and dissemination of high yielding varieties and ensuring smallholder farmers’ benefit from improved cassava manage-

ment practices. The project will enable sustainable supply of cassava roots (with high starch content) to local processors. The company has committed over N120m on this project for over two years. The second project, Grains Quality Improvement initiative is aimed at ensuring high quality grains by reducing Mycotoxin contamination in grains through good agricultural and storage practices. This project has significantly reduced the nutritional and economic losses in grains and legumes and ensures high quality raw materials for the factory. Liquidity The company financial position is weal, considering the borrowings and overdraft taken from banks as at December 31, 2014, the company total assets stood at N106.1bn, a decline of 2.03 per cent when compared to N108.2bn recorded in the corresponding period of 2013. Property, plant and equipment rose to N67.5bn, from N65.9bn in 2013, while the value of long term debtors stood at N1.16bn in 2014, from N573.2bn in 2013. Cash and cash equivalent was N3.70bn, from N13.7bn in 2013, while prepayment stood at N398m,

from N300m in 2013. The company total liabilities dropped marginally by 3.71 per cent to N70.1bn in the review period, from N67.6bn recorded in the same period of 2013. Short term borrowings increased to N12.7bn in 2014, from N947.8m in 2013, while long term borrowings reduced to N18.3bn, from N26.5bn in 2013. Working capital fell to N7.25bn, from N8.52bn in 2013, while net assets depreciated to N35.9bn, down 11.5 per cent from N40.6bn in 2013. Analysts view The consensus forecast covering Nestle Foods Nigeria is that the company will underperform the market. The analysts offering 12 month price targets for the company have a median target of N879.19, with a high estimate of N1, 150 and a low estimate of N646.60. The median estimate represents a 4.67 per cent increase from the last price of N840.00 With respect to operating expenses, we believe that the significant growth in distribution, sales and marketing costs was part of a business strategy geared towards increasing product penetration and sustaining market leadership in a matured sector. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, June 8, 2015

A23 39

STOCKWATCH Stock Exchange weekly equities summary as at Friday, June 5, 2015 SECURITY

PRICE (=N=)

AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC 0.50 OKOMU OIL PALM PLC. 30.40 PRESCO PLC 34.50 Fishing/Hunting/Trapping ELLAH LAKES PLC. 4.26 Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 2.25 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. 1.54 CHELLARAMS PLC. 3.95 JOHN HOLT PLC. 0.94 SCOA NIG PLC 4.44 TRANSNATIONAL CORP. OF NIG.PLC 2.83 U A C N PLC. 41.70 CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. 5.30 CAPPA & D’ALBERTO PLC. NT Building Structure/Completion/Other COSTAIN (W A) PLC. 1.06 G CAPPA PLC 14.46 Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 52.50 ROADS NIG PLC. 6.29 Real Estate Development PINNACLE POINT GROUP PLC NT UACN PROPERTY DEV 10.00 Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC 100.00 UNION HOMES REAL ESTATE INV 45.22 UPDC REAL ESTATE INVESTMENT TRUST 10.00 CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC 0.50 Beverages--Brewers/Distillers CHAMPION BREW. PLC. 6.60 GOLDEN GUINEA BREW. PLC. 0.93 GUINNESS NIG PLC 165.00 INTERNATIONAL BREWERIES PLC. 20.01 JOS INT. BREWERIES PLC. 1.74 NIGERIAN BREW. PLC. 147.99 PREMIER BREWERIES PLC 3.26 Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 176.50 Food Products BIG TREAT PLC NT DANGOTE FLOUR MILLS PLC 4.20 DANGOTE SUGAR REFINERY PLC 6.60 FLOUR MILLS NIG. PLC. 35.69 HONEYWELL FLOUR MILL PLC 3.98 MULTI-TREX INTEGRATED FOODS PLC 0.50 N NIG. FLOUR MILLS PLC. 18.05 NATIONAL SALT CO. NIG. PLC 7.00 P S MANDRIDES & CO PLC. 5.35 U T C NIG. PLC. 0.50 UNION DICON SALT PLC. 11.84 Food Products--Diversified CADBURY NIGERIA PLC. 39.90 NESTLE NIGERIA PLC. 869.00 Household Durables BETA GLASS CO PLC. NT NIGERIAN ENAMELWARE PLC. 31.82 VITAFOAM NIG PLC. 5.38 VONO PRODUCTS PLC. 1.75 Personal/Household Products P Z CUSSONS NIGERIA PLC. 29.20 UNILEVER NIGERIA PLC. 45.50 Textiles/Apparel UNITED NIG. TEXTILES PLC. NT FINANCIAL SERVICES Banking ACCESS BANK PLC. 6.10 DIAMOND BANK PLC 4.44 ECOBANK TRANSNATIONAL INC. 21.70 FIDELITY BANK PLC 1.87 FIRST CITY MONUMENT BANK PLC. NT GUARANTY TRUST BANK PLC. 27.50 INTERCONTINENTAL BANK 13.50 SKYE BANK PLC 2.59 STERLING BANK PLC. 2.03 U B A PLC 5.15 UNION BANK NIG.PLC. 10.10 UNITY BANK PLC 2.60 WEMA BANK PLC. 1.02 ZENITH BANK PLC 19.97 Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC 0.50 AIICO INSURANCE PLC. 1.00 CONFIDENCE INSURANCE PLC NT CONSOLIDATED HALLMARK INS. PLC 0.50 CONTINENTAL REINSURANCE PLC 1.00 CORNERSTONE INS. COY. PLC. 0.50 CUSTODIAN AND ALLIED INS. PLC NT EQUITY ASSURANCE PLC. 0.50 GOLDLINK INSURANCE PLC 0.53 GREAT NIGERIAN INSURANCE PLC 0.50 GUINEA INSURANCE PLC. 0.50 INTERCONTINENTAL WAPIC INS. PLC NT INTERNATIONAL ENERGY INS. PLC 0.53 INVESTMENT AND ALLIED ARN. 0.5 LASACO ASSURANCE PLC. 0.50 LAW UNION AND ROCK INS. PLC. 0.50 LINKAGE ASSURANCE PLC 0.50 MANSARD INSURANCE PLC 2.87 MUTUAL BENEFITS ASSURANCE PLC. 0.50 N.E.M INSURANCE CO (NIG) PLC. 0.84 NIGER INSURANCE CO. PLC. 0.50 OASIS INSURANCE PLC NT PRESTIGE ASSURANCE CO. PLC. 0.50 REGENCY ALLIANCE INS. COY PLC 0.50 SOVEREIGN TRUST INSURANCE PLC 0.50 STANDARD TRUSTASSURANCE PLC 0.50 STANDARD ALLIANCE INS. PLC. 0.50 UNIC INSURANCE PLC. 0.50 UNITY KAPITAL ASSURANCE PLC 0.50 UNIVERSAL INS. COMPANY PLC 0.50 WAPIC INSURANCE PLC 0.51 Micro Finance Banks FORTIS MICROFINANCE BANK PLC 5.42 NPF MICROFINANCE BANK PLC 1.14 Mortgage Carriers, Brokers &Services ABBEY MORTGAGE BANK PLC 1.25 ASO SAVINGS AND LOANS PLC 0.50 INFINITY TRUST MORTGAGE BANK PLC 1.42 RESORT SAVINGS & LOANS PLC 0.50 UNION HOMES SAVINGS&LOANS PLC 6.4 Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS 2.9 CUSTODIAN AND ALLIED INS. PLC 4.00 CRUSADER ( NIG) PLC. NT DEAP CAPITAL MGT & TRUST PLC 0.67 FBN HOLDINGS PLC 9.00 FCMB GROUP PLC 2.99 ROYAL EXCHANGE PLC. 0.50 STANBIC IBTC HOLDINGS PLC 28.95 SIM CAPITAL ALLIANCE VALUE FUND 103.24 NIGERIA ENERGY SECTOR FUND 552.20 UBA CAPITAL PLC 1.40 HEALTHCARE Healthcare Providers EKOCORP PLC. 3.72 UNION DIAGNOSTIC &CLINICAL PLC 0.50 Medical Supplies MORISON INDUSTRIES PLC. 1.82 Pharmaceuticals

NOTE NT=Not Traded on 05-06-15

52 WK HIGH

QUANTITY

52 WK LOW

9,140 261,540 107,996

0.64 107.81 41.14

0.50 20.92 8.24

SHARES OUTSTANDING

EPS

2,200,000,000 476,955,000 1,000,000,000

0.10 2.29 7.55

MOV. (%)

N/A 3.05 -1.99

0.50 29.50 35.20

4.26

60,000,000

0.00

N/A

4.26

1,249,104

7.18

0.68

1,199,549,736

0.07

-7.02

2.42

100,150 300 17,558 512 6,693,406 2,658,148

2.08 6.43 5.89

0.71 4.15 1.07

2,191,895,983 963,900,300 389,151,408

0.11 0.16 1.09

0.00 N/A N/A

5.89 71.10

0.50 28.00

821,666,666 1,600,720,323

0.09 4.38

N/A N/A

1.54 3.95 0.94 4.44 3.10 41.20

375 3

26.00 95.49

5.05 95.49

148,500,000 196,876,000

0.33 4.50

N/A N/A

5.30 NT

807,550 217

2.66 14.46

0.72 14.46

920,573,765 125,000,000

0.00 0.00

N/A N/A

0.94 14.46

27,437 1,832

83.75 10.60

19.86 6.61

1,200,000,000 20,000,000

6.74 1.69

-0.38 N/A

52.70 6.29

NT 324,368

7.28 20.90

7.28 8.82

1,375,000,000

0.00 2.20

N/A -0.99

NT 10.10

93 100 6,350

100.00 50.00 10.50

100.00 50.00 0.00

20,000,000 250,019,781

5.82 0.19

N/A N/A

100.00 45.22 10.00

5,016

0.50

4,772,528,415

0.00

N/A

0.50

54,992 8,132 28,374 172,515 50,000 1,808,302 513,550

19.48 0.68 297.41 30.00 9.09 179.40 0.97

3.13 0.68 209.10 5.34 0.81 91.10 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 0.00 8.66 0.63 0.00 5.03 0.00

N/A N/A 1.23 N/A N/A -1.34 N/A

6.75 0.93 163.00 20.00 1.92 150.00 3.26

24,150

75.90

38.12

640,590,362

4.46

N/A

178.00

NT 224,970 1,588,435 187,271 952,850 53,816 159,011 2,835,920 2.08 124,000 50 100

0.50 10.68 12.85 109.24 4.11 1.21 29.70 14.00 5.94 0.93 13.31

0.50 3.85 3.26 50.00 1.83 0.50 17.51 3.65 5.35 0.50 4.22

2,000,000,000 5,000,000,000 12,000,000,000 1,879,210,666 7,930,197,658 3,722,493,620 178,200,000 40,000,000 1,233,375,004 360,000,000

0.00 0.00 0.81 3.38 0.34 0.00 0.00 1.05 0.08 1.13 0.00

N/A 1.94 1.38 -1.41 6.99 N/A N/A -12.50 N/A 0.00 N/A

NT 4.12 6.51 36.20 3.72 0.50 18.05 8.00 5.35 0.50 11.84

5,725 390,319

64.53 1250.00

8.33 400.00

3,129,188,160 792,656,250

1.57 28.34

-0.25 2.24

40.00 850.00

25,333 100 187,845 15,000

15.58 36.19 5.54 2.88

10.03 32.27 2.91 0.57

63,360,000 819,000,000 300,000,001

3.90 13.92 0.71 0.00

N/A N/A -0.19 N/A

NT 31.82 5.39 1.69

156,973 119,119

56.00 76.00

21.02 27.60

3,176,381,636 3,783,296,250

1.34 1.42

0.07 1.11

29.18 45.00

0.97

0.57

843,284,027

0.00

N/A

20,610,779 1,358,484 5,746,153 4,669,271 NT 11,491,149

12.39 7.85 17.51 3.47 8.30 29.99

4.70 1.92 9.90 1.13 3.04 13.02

17,888,251,479 14,475,243,105 9,873,614,567 28,974,797,023 16,271,192,202 29,146,482,209

1.61 1.71 3.67 0.68 0.60 3.08

-2.09 -0.22 0.79 -3.11 #VALUE! -5.01

5,074,965 2,601,379 11,173,106 1,469,943 359,359 1,128,531 9,778,427

7.05 3.05 9.60 15.30 1.16 1.88 27.40

2.65 0.80 1.64 2.34 0.50 0.50 11.96

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

0.97 0.63 1.70 0.44 0.18 0.00 3.30

-5.82 -3.79 -4.63 -0.20 0.00 6.25 -6.86

200 1,627,718 NT 9,140 1,882,960 62,000 9,054,578 4,754 NT 42,003 165,731 NT 698,304 NT 14,710 100 220 23,600 1,319,465 10,579,013 52,100 1,654,611 27,973 5,028 100 1,650 161,547,689 25,000 200 518,140 1,368,084

0.50 1.42 0.64 0.52 1.45 0.72 2.44 0.50 0.69 0.60 0.50 2.50 2.50 0.50 0.50 0.61 0.50 2.87 0.63 1.01 1.11 0.50 1.24 0.53 0.59

0.50 0.50 0.61 0.50 0.58 0.50 1.08 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 1.06 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

0.00 0.19 0.00 0.05 0.15 0.02 0.24 0.01 0.00 0.03 0.01 0.00 0.00 0.02 0.00 0.00 0.02 0.25 0.00 0.37 0.02 0.04 0.06 0.04 0.09

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 -4.33 N/A 3.70 N/A N/A 0.00 N/A 0.00

0.50 0.50 0.50 0.50 1.55

0.50 0.50 0.50 0.50 0.50

8,493,173,450 2,581,733,505 13,000,000,000 16,000,000,000

0.00 0.00 0.02 0.00 0.07

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

10,000,000 584,766

6.60 1.22

0.00 0.72

500 500 500 220,000 4,570

1.65 0.50

1.37 0.50

4,200,000,000 8,679,148,676

0.03 0.02

N/A N/A

0.50 0.99

0.50 0.50

13,175,732,404 7,812,500,000

0.30 0.00

N/A N/A

3,778,005,975 1,333,333,333 32,632,084,358

0.00 0.15 2.45 1.23 0.13 1.53

313,164 369,250 500 5,000 8,812,914 27045923 1,050,953 3,807,836 465 100 1,926,013

2.1

0.5

0.61 2.02 21.50 5.70 1.33 20.72 103.24

0.50 2.02 8.57 2.90 0.50 10.64 98.33

1.70

0.00

1.18 0.19

0.50 1.00 NT 0.50 1.06 0.50 NT 0.50 0.53 0.50 0.50 NT 0.53 0.5 0.50 0.50 0.50 3.00 0.50 0.81 0.50 NT 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.54 5.42 1.35

0.63

3,608,657,661 18,750,000,000

6.23 4.45 21.53 1.93 NT 28.95 13.50 2.75 2.11 5.40 10.12 2.86 0.96 21.44

N/A N/A -4.05 N/A -3.18

0.29

1.25 0.50 1.42 0.50 6.4 3.1 4.00 NT 0.67 9.38 3.09 0.50 29.90 103.24 552.20 1.50

170 40,000

5.05 0.50

4.32 0.50

498,600,908 3,553,138,528

0.13 0.00

N/A N/A

3.72 0.50

100

10.54

7.39

152,178,750

0.00

N/A

1.82

N/A=Not Avialable @

SECURITY

PRICE (=N=)

EVANS MEDICAL PLC. 1.75 FIDSON HEALTHCARE PLC 3.47 GLAXO SMITHKLINE CONSUMER PLC 44.11 MAY & BAKER NIGERIA PLC. 1.53 NEIMETH INT PHARM PLC 1.28 NIGERIA-GERMAN CHEMICALS PLC. 6.32 PHARMA-DEKO PLC. 2.23 ICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 Computers and Peripherals OMATEK VENTURES PLC 0.50 Electronic Communications Services MTECH COMMUNICATIONS PLC 0.91 IT Services COMPUTER WAREHOUSE GROUP PLC 4 NCR (NIGERIA) PLC. 11.02 TRIPPLE GEE AND COMPANY PLC. 1.69 Processing Systems CHAMS PLC 0.50 E-TRANZACT INTERNATIONAL PLC 3.39 Telecommunications Services IHS NT HIS NIGERIA PLC 2 NT HIS NIGERIA PLC 1 NT MTI PLC 0.5 INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. 2.72 ASHAKA CEM PLC 21.57 BERGER PAINTS PLC 11.00 CAP PLC 41.00 CEMENT CO. OF NORTH.NIG. PLC 10.32 DANGOTE CEMENT PLC 177.00 DN MEYER PLC. 0.83 FIRST ALUMINIUM NIGERIA PLC 0.50 IPWA PLC 0.50 PREMIER PAINTS 10.93 LAFARGE WAPCO PLC. 99.00 PAINTS & COATINGS MANFACT.PLC 1.33 PORTLAND PAINTS & PRDT NIG. PLC 3.99 Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC 2.09 CUTIX PLC. 1.75 NIGERIAN WIRE AND CABLE PLC. 0.50 Packaging/Containers ABPLAST PRODUCTS PLC. NT AVON CROWNCAPS & CONTAINERS 1.52 BETA GLASS CO PLC. 44.00 GREIF NIGERIA PLC 11.48 NIG. BAGS MANFACT. COY PLC NT POLY PRODUCTS (NIG) PLC. NT W A GLASS IND. PLC. 0.63 Tools and Machinery NIGERIAN ROPES PLC 7.46 NIG SEW MACH. MAN. CO PLC. 0.15 STOKVIS NIG PLC. 0.14 NATURAL RESOURCES Chemicals B.O.C. GASES PLC. 5.11 Metals ALUMACO PLC 7.75 ALUMINIUM EXTRUSION IND. PLC. 10.43 MINING SERVICES MULTIVERSE PLC 0.50 Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT THOMAS WYATT NIG. PLC. 0.73 OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.50 Integrated Oil and Gas Services OANDO PLC 17.87 Petroleum &Petroleum Products Distributors BECO PETROLEUM PRODUCT PLC 0.5 CONOIL PLC 40.00 ETERNA PLC. 2.65 FORTE OIL PLC. 159.85 MOBIL OIL NIG PLC. 156.30 MRS OIL NIGERIA PLC. 50.54 TOTAL NIGERIA PLC. 155.05 Exploration and Production SEPLAT PETROLEUM DEVT. CO, LTD. 338.00 SERVICES Advertising AFROMEDIA PLC 0.50 Apparel Retailers LENNARDS (NIG) PLC. 3.15 Automobile/Auto Part Retailers R T BRISCOE PLC. 0.75 Courier/Freight/Delivery RED STAR EXPRESS PLC 5.10 TRANS-NATIONWIDE EXPRESS PLC. 1.28 Employment Solutions C & I LEASING PLC. 0.70 Hospitality TANTALIZERS PLC 0.50 Hotels/Lodging CAPITAL HOTEL 4.07 IKEJA HOTEL PLC 3.89 TOURIST COY NIG PLC 3.51 TRANSCORP HOTELS PLC 9.63 Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 Printing/Publishing ACADEMY PRESS 0.95 LEARN AFRICA PLC 1.15 STUDIO PRESS (NIG) PLC. 2.30 UNIVERSITY PRESS PLC. 6.05 Road Transportation ABC TRANSPORT PLCPLC 0.56 Specialty INTERLINKED TECHNOLOGIES PLC 4.43 SECURE ELECTRONIC TECH.PLC 0.5 Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 2.33 NIG. AVIATION HANDLING COY PLC 6.11 SUPPORT AND LOGISTICS CAVERTON OFFSHORE GROUP PLC 3.6 ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT CONSUMER GOODS Food Products MCNICHOLS PLC NT OIL AND GAS CAPITAL OIL PLC NT NAVITUS ENERGY PLC NT Personal/Household Products ROKANA INDUSTRIES PLC. NT HEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT INDUSTRIAL GOODS Electronic and Electrical Products NT ADSWITCH PLC. NT NATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT Food/Drug Retailers and Wholesalers NT JULI PLC. NT ETF’s Sector ETF LOTUS HALAL EQUITY ETF NT NEWGOLD EXCHANGE TRADED FUND NT VETIVA GRIFFIN 30 ETF NT

QUANTITY

52 WK HIGH

52 WK LOW

SHARES OUTSTANDING

EPS

MOV. (%)

74,488 1,444,640 66,411 163,454 251,300 100 572,185

4.80 2.50 69.00 3.38 1.76 8.59 3.50

0.50 0.61 18.97 1.23 0.58 7.36 1.83

486,473,856 1,500,000,000 956,701,192 980,000,000 1,925,717,268 153,786,012 100,000,000

0.58 0.24 3.07 0.09 0.00 0.00 0.00

-2.78 -3.07 0.25 -5.56 6.67 N/A N/A

1.80 3.58 44.00 1.62 1.20 6.32 2.23

37,000

0.96

0.50

2,960,000,000

0.11

0.00

0.50

100

0.50

2,941,789,472

0.00

N/A

0.50

0.91

4,966,666,668

0.00

N/A

0.91

400 100 5,460

18.70 2.94

13.12 2.07

108,000,000 492,825,600

0.00 0.03

N/A N/A

4 11.02 1.69

27,420 1,080

0.50 4.97

0.50 3.13

4,620,600,000 4,200,000,000

0.04 0.04

N/A N/A

0.50 3.39 NT NT NT 0.5

100

0.50

4,893,594,400

0.00

N/A

2,000 1,557,197 40,673 20,474 1,514,719 1,167,463 40,890 600 6,000 60 109,667 50,000 72,650

2.86 29.98 12.20 67.50 12.99 210.01 3.54 0.75 1.34

2.86 8.01 6.82 13.78 4.00 102.00 0.50 0.50 0.50

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

0.07 0.80 0.91 1.66 1.12 5.77 0.06 0.00 0.00

N/A 0.33 10.00 -1.20 0.00 -1.67 N/A N/A N/A

110.00 2.41 7.22

39.80 0.50 2.27

3,001,600,004 792,914,256 400,000,000

6.83 0.36 0.43

1.02 N/A N/A

2.72 21.50 10.00 41.50 10.32 180.00 0.83 0.50 0.50 10.93 98.00 1.33 3.64

100 220,132 100

2.00 2.39 0.73

2.00 1.20 0.50

510,396,608 2,220,000,000

0.05 0.19 0.00

N/A 1.16 N/A

2.09 1.73 0.50

NT 561 1,361 100 NT NT NT

3.98 5.94 13.18 13.28 3.60 1.86 0.63

3.98 1.71 9.04 12.68 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 0.00 3.23 0.90 0.24 0.22 0.00

N/A #VALUE! N/A N/A

NT 1.52 39.97 11.48 NT NT 0.63

100 200 NT

8.69

8.26

265,409,280

0.00

N/A

0.14

2,918,000

0.00

N/A

25,000,000 683,974,528

7.46 0.15 0.14

10,000

9.35

5.68

393,120,000

0.76

0.00

5.11

320 100

7.75 12.39

7.75 10.55

75,600,000 100,000,000

0.00 0.24

N/A N/A

7.75 10.43

100

0.50

4,058,989,226

0.01

N/A

0.50

NT 4,050

3.22 1.38

3.22 0.67

50,000,000 220,000,000

0.04 0.00

N/A N/A

NT 0.73

1,408,720

1.02

0.50

6,262,701,716

0.00

0.50

4,924,248

24.80

9.32

2,262,711,568

1.24

-5.45

18.90

10000 2,577,516 2,541,040 412,758 22,164 167,074 43,476

76.00 4.87 115.64 146.00 59.00 190.01

16.96 1.32 7.73 106.00 16.20 118.75

693,952,117 1,249,162,828 1,080,280,628 300,496,051 253,988,672 339,521,837

2.69 0.61 1.43 9.93 1.04 12.91

-2.44 -3.64 -9.18 6.47 N/A -10.89

0.5 41.00 2.75 176.00 146.80 50.54 174.00

306,355

28,677,671

200

0.72

0.50

100

3.48

209,933

2.45

1.00

2,572,000 3,000

5.10 3.45

2.19 0.73

4,035,497,307

338.00

0.00

N/A

0.50 3.15

980,294,400

0.00

-5.06

0.79

589,496,310 198,819,763

0.52 0.00

-4.67 N/A

5.35 1.20

4,059,547

1.64

0.85

865,808,912

0.00

N/A

0.70

1,500

0.75

0.50

3,211,627,907

0.00

N/A

0.50

100 599,750 1,000 2,800

1.72 3.88 10.00

0.64 3.51 10.00

2,078,796,396

0.00

-0.26

4.07 3.90 3.51 9.63

1,000

0.51

0.50

8,000,000,000

0.43

N/A

0.50

16500 224,498 20 20,800

3.09 2.78 5.77

1.39 2.52 3.00

771,450,000 425,641,111

0.00 0.00 0.61

N/A N/A 0.00

1 1.15 2.30 6.05

955,140

1.29

0.50

1,507,000,000

0.21

N/A

0.56

6 40,000,700

5.15 1.88

4.90 0.80

236,699,511 5,631,539,736

0.00 0.00

N/A N/A

4.43 0.5

111,000 246,274

5.90 8.81

1.27 5.08

634,000,000 1,230,468,750

0.50 0.43

N/A -4.23

2.34 6.38

189044

3.6

1.43

1.04

45,000,000

0.12

N/A

100

2.26

1.02

201,885,335

0.00

N/A

100000 1000

NT NT

0.60

30,000,000

0.00

N/A

0.50

24,898,850

0.00

N/A

NT NT

1.88

1.63

125,005,250

0.00

N/A

NT NT

NT NT 1,000

0.50

6,650,000

0.00

N/A

3.05

2.76

194,700,000

0.00

N/A

2,706

2,003

41 10

#VALUE! 49467

NT NT NT

A24 40

Business Courage

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Law & Justice nationalmirrorlaw@yahoo.com

‘’It is undoubtedly true that the system of government which the constitution contemplates is based on separation of powers ’’

JUSTICE MODIBBO ALFA BELGORE, FORMER CHIEF JUSTICE OF NIGERIA xx

CJN, States’ CJs should curtail excesses of SANs –Sagay 42

Buhari

Osinbajo

Why Buhari, Osinbajo should declare assets publicly –Lawyers Few days ago, President Muhammadu Buhari and his vice, Prof. Yemi Osinbajo declared their assets to the Code of Conduct Bureau in compliance with the provisions of the 1999 Constitution. However, stakeholders in justice administration are divided on whether or not the two leaders should make their declaration public. WALE IGBINTADE examines the Constitution in line with the views of some lawyers.

FEDECO boss: Adesanya, Shagari’s legal battle 45

Tobacco firms to pay billions in damages in Canada 46

ection 140 (1) of the 1999 Constitution stipulates that “A person elected to the office of President shall not begin to perform the functions of that office until he has declared his assets and liabilities as prescribed in this Constitution and he has taken and subscribed the Oath of Allegiance and the oath of office prescribed in the Seventh Schedule to this Constitution’’. Consequently, the Code of Conduct Bureau and Tribunal Act, 1990, gave the Bureau the mandate to receive declarations of assets by public officers. The main essence of this provision is to maintain a high standard of public morality in the conduct of Government Business and to ensure that actions and behaviour of public officers conform to the highest standard of public morality and accountability. The need for declaration of assets by Public officers in a young democratic state like Nigeria cannot be overstressed, especially when viewed against the backdrop of large-scale corruption, which has become

THE NATIONAL ASSEMBLY IS REQUIRED TO MAKE PROVISIONS ENABLING A PRIVATE CITIZEN TO OBTAIN COPIES OF SUCH ASSETS DECLARATION. NO SUCH PROVISION HAS BEEN MADE BY ANY LAW OF THE NATIONAL ASSEMBLY AND WE SHOULD ASK WHY? prevalent in the civil /public service. So, when President Buhari and his Vice, Osinbajo on May 28 declared their assets, as required by the Constitution many Nigerians expected them to also make their assets public. Some have suggested that Nigerians, who are interested in knowing more about the assets declared should go through the Freedom of Information Act (FoI), but some have argued that Nigerians should not be put through the rigours of official bureaucracy. Many are quick to point to the late President Umaru Musa Yar’Adua, who publicly declared his assets thereby becoming the first Nigerian leader to do so. The reactions of some lawyers

were diverse and varied on this issue. Lagos-based lawyer, Mr. Nnaemeka Amaechina, said the 3rd schedule to the 1999 Constitution established the Code of Conduct Bureau and that by paragraph 11 of the Code of Conduct ‘’every public officer shall immediately after taking oath of office declare his assets by submitting a written declaration of his properties, assets and liabilities to the Code of Conduct Bureau, including those of their unmarried children under the age of 18 years’’. According to him, “there is no specific requirement for public officers to declare their assets publicly, but it is clear from the provisions of the 3rd Schedule

to the Constitution that it is intended that members of the public should have access to such documents evidencing declaration of assets by public officers. The National Assembly is required to make provisions enabling a private citizen to obtain copies of such documents. No such provision has been made by any law of the National Assembly and we should ask why? “To me, it is because these politicians always have something to hide. They do not want to grant us the platform to scrutinise their assets and cry out if there is need to do so. No public officer has declared his assets publicly except the late Umaru YarAdua. He said those calling on Buhari to make his assets declaration public based it on campaign promises. Amaechina added that ‘’I think any anti-corruption crusader should follow the example of the late Umaru Yar’ Adua and declare his/her assets publicly because that is in CONTINUED ON PAGE 44

Law & Justice

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

CJN, States’ CJs should curtail Prof. Itse Sagay, a Senior Advocate of Nigeria (SAN), is a one-time Dean, Faculty of Law, University of Benin (UNIBEN). In this interview with WALE IGBINTADE, the learned scholar speaks on the controversial fourth alteration to the 1999 Constitution and the delay in administration of justice, among others. Excerpts. What is your assessment of the seventh National Assembly? Well, frankly, I have not really rated any National Assembly at the federal level high from the beginning and this one is not even better. Professor Femi Ajayi did a breakdown very recently, of the remuneration of the senators and at the end of the breakdown; he came to the conclusion that a member of Senate earns N29 million a month. If you see what they consume, we pay for their newspapers, telephones, just name it, running to hundreds of thousands of naira a year. Childish things that we spend money on here on individual basis, they are paid for it. Former President Goodluck Jonathan left without signing the fourth alteration to the constitution into law despite the out- of -court settlement reached with the lawmakers. How do you see this? The whole thing has collapsed. It behooves on the National Assembly that is coming now to put it together again, send it to the states to pass resolution adopting it. So they have to start all over again. But, how do you see the whole exercise? Again, if you look at this amendment of the constitution that Jonathan refused to sign into law, this is one of the few occasions I agreed with Jonathan. What were they trying to do? They were trying to create life pension for themselves as if they are governors of states and we are already complaining of what the governors are doing. They now want to imitate governors, collect huge sums running into hundreds of million a month per officer. You know we don’t pass the Appropriation Bill on time, and the law in the constitution very wisely makes provisions that for six months, government can continue to spend at the rate of the last budget until a new budget is approved. These people wanted to reduce it to three months. So, in other words, if by April budget has not been approved by the National Assembly, the country will come to a standstill. Is that not the height of irresponsibility? They are trying to create immunity for themselves. So, this alteration of the constitution was meant to be implemented for the wrong reasons, for the promotion of purely selfish interest. They want cars, houses after they have retired. They want to commit crimes while they are in office and not been prosecuted. That is the most unreasonable thing on earth because we do not have standard laid out. If you talk of education and you don’t have a standard and you make it compulsory and justifiable then of course, the government concern will bring the lowest standard and the cheapest type of education. At that stage you will complain about the standard and there is no provision for that. At the same time, they are removing powers from other people. Now, NJC can appoint Attorney-General of the Federation, the

Sagay (SAN)

LAWMAKERS

WERE TRYING TO CREATE

LIFE PENSION FOR THEMSELVES AS IF THEY ARE GOVERNORS AND WE ARE ALREADY COMPLAINING AGAINST WHAT THE GOVERNORS ARE DOING only good thing I see in the amendment is the creation of the post Attorney-General of the federal government because really there should be a separation between the Attorney -General of the federal government and Attorney-General of the Federation because there is a clash between the two. What the rest of the federation wants is in conflict with what the Federal Government want, there is always a clash. What is happening now is that the present man who calls himself AGF, who is an appointee of the Federal

Government always favours federal government in allocation of resources. So we need to counter balance that. For me, there is need for improvement on the standard of education, health care and social services, but, it is a political thing, not a legal thing. My view is that if a government comes as Buhari government is coming now and provides a very high standard of health care, of education and social services, it becomes a campaign point for him when he is seeking re-election as against

the out-gone government that did nothing in these areas and therefore there’s nothing to support their campaign for re-election. Re-election for what? For these dreary years that you’ve taken us through? We don’t want that sort of government to come near this country again. As far as I am concerned, this alteration of the constitution that they wanted to institute was for two things; self-service and destruction and I am glad Jonathan did not sign it. President Muhammadu Buhari and his deputy, Professor Yemi Osinbajo have declared their assets to the Code of Conduct Bureau. However, many have denuded that they should make their declaration. What is your take on this? The constitution doesn’t make it compulsory to make it public. The constitution merely says they should declare their assets. But, what people are saying and I am one of

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Law & Justice

Monday, June 8, 2015

excesses of SANs –Sagay those, is that the reputation of Buhari and everything he stands for; his probity, uprightness and fight against corruption, he has no choice but to publicly declare his assets and so also his vice president. And I also like to suggest to them, that anybody whom they appoint whether as ministers or special advisers all should be compelled by them to declare their assets otherwise they should not appoint them. So, it is not a question of law, it is a question of honour There are so many high-profile cases dragging in court over the years. How do you see this trend? A lot of public officers who have been arrested and put on trial for stealing huge sums, everything in billions, there is none that is less than a billion, some over N20 billion, some over N50 billion, mainly former governors, ministers, members of the House of Representatives, National Assembly and senior civil servants who have been accused of stealing these billions and have been charged before the court, have been receiving the services of senior advocates, who instead of simply defending, have created major obstruction to the process of prosecution because they are two different things. You can be defending an accused person that is, when he’s accused and charged and the prosecution makes a case, you will bring a defence to counter that case. That is different from frustrating a trial which is what they are doing because what they do, is to file a preliminary objection to the jurisdiction of the court and pursue this preliminary objection relentlessly, endlessly without any restraint and abandoned the substantive issue involving the commission of a major crime against the people of this country. At the end of the day, after pursuing this preliminary objection for a period of two years, judgment is given against them or ruling is made against them and the court says it has jurisdiction. They would then at that stage appeal to the Court of Appeal on the basis of the jurisdiction leaving the main case behind. When they fail again at the Court of Appeal, they will go to the Supreme Court. So, you may find this whole process of limiting the matter to a consideration of preliminary objection may take up to 12 to 15 years. By the time the matter comes back after 12 or 15 years, all the critical officials who would have provided evidence for the prosecution some would have retired, some would have died and generally there would be prosecution fatigue, everybody is tired, evidence has become vague, lost and so on. In fact, Femi Falana, SAN was telling us that at a colloquium recently that when he was in England, he asked the lawyers who represented Chief James Ibori; that how come they were not able to delay the case in England. In Nigeria, they would have delayed it for 12 years or more. They said look, you cannot do that here, this is not Nigeria. If you do that here, at the end of the day, not only will your client get five times the sentence he or she would have been given; so instead of five, he would be given 25 years for the delay. We counsel for the defence, for delaying the trial, incurring expenses for the state that has to carry the burden of trial would be disbarred from that practice, therefore, it is not possible here.

We should adopt this British system which does not tolerate this type of nonsense. We need to look into those aspects of practice and discipline of legal counsel and introduce them in this country. It is a national tragedy that the whole status of senior advocate which is conferred on someone who is assumed to be the epitome of the nobility of the profession is used to disrupt the course of justice. The rank of senior advocate is for someone who will ensure that justice is done and that administration of justice will be above board as much as possible. But, on the contrary, these ones are actually disrupting that reputation for monetary reasons. They have abandoned everything for which they were appointed. It is a tragedy and shame on this country. One other thing, as an outsider, I am also expressing frustration about the attitude of our leading judicial officers to this problem so it is not just a problem of senior advocates, it is also a problem of the Chief Justice of Nigeria, of the President of the Court of Appeal, of the Chief Judges of the Federal High Court and Chief Judges of the state High Courts.

Why do you say so? I say so because it lies in the power of these officials to curtail this problem by simply introducing rules which states that: if any person accused of corruption or stealing or any financial crime raises a preliminary objection about the jurisdiction of the court before which he is charged, the court is compelled by those rules to take both the preliminary objection and the substantive issue together. In other words, you raise a preliminary objection, I said okay, I will listen to you, you state your objection, I listened to the other side, I take my notes as the judge and say fine, now go to the main case of stealing N20 billion from subsidy allocation, the judge will hear the whole case taking his notes and give a date for judgment. When he comes back, he would look at the preliminary objection and if he feels that he has jurisdiction he will dismiss it on the spot and say: “I have jurisdiction, I dismiss it” then he will now go and give judgment on the main case of corruption or stealing or financial crime. When he now does that, the appeal goes to the Court of Appeal as a whole. So, there will be no question of going to the Supreme Court and coming back. When it gets to the Court of Appeal, the defence lawyer can come up with an appeal against the issue of jurisdiction and say the Court below does not have jurisdiction and then also appeal against any conviction which his client will suffer. The Court of Appeal will take the two together then he goes to the Supreme Court. The Supreme Court will take the two together and that will be the end of the matter. For some curious reasons, none of these major public judicial officers has agreed to adopt this method. I have personally written to the Chief Justice of Nigeria over three months ago, he has not replied me. Dead silence on such a critical issue so, I don’t know what is going on. You can’t go in the public and be complaining about senior advocates dragging on cases whilst he himself is refusing to take responsibility to curtail it when he has the power to do so.

BUHARI HAS NO CHOICE BUT TO PUBLICLY DECLARE HIS ASSETS AND SO ALSO IS HIS VICE

–

PRESIDENT, BECAUSE OF THE REPUTATION AND EVERYTHING HE STANDS FOR; HIS PROBITY,

UPRIGHTNESS AND FIGHT AGAINST CORRUPTION The out-going Senate President, David Mark, recently said lawmakers in states House of Assembly are stooges of governors. Do you share his view? I share it. The States Houses of Assembly are not independent, all the time they are looking at the body language of the governors except in Lagos State and one or two Western States. I think this is as a result of political maturity and sophistication. The more West you travel in Nigeria, the more sophisticated the political process. The foundation laid down by Obafemi Awolowo and

the free education system he introduced in 1955 has so enlightened the people of this part that it is reflected in their politics, they are more sophisticated. Take the Lagos State House of Assembly for instance, it is a very powerful body and the state governor does not ride rough-shore over them, they are equal partners in governance. But, in many of the states in the South-South and SouthEast particularly and in the North, the governors are in complete control of two arms of government, executive and legislative and it is what they dictate that the assemblies carry out. So, it is lack of political maturity, lack of political sophistication. Thirdly, there is a tendency particularly in the South-South, the South-East, of lack of principles among the politicians. They are bread and butter politicians, one politician from Delta State was saying on television recently: “they are food is ready politicians”. Where is the food coming from? It is coming from the executive so they will do anything to please the executive so that food can continue to percolate down that is the attitude, they are not matured, they are not developed politically, and they are not sophisticated. I think with time, they will develop and with Buhari coming in, I know probably we are all expecting too much of the man but I think if he can maintain the set of standard of integrity, honour and uprightness that he stood for in 1983-1985. If he can return to that and set up that standard as a standard for the country then maybe the message will percolate and we will have more independent legislators but as they are now, they are just governor’s football.

Monday, June 8, 2015

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‘’It is undoubtedly true that the system of government which the constitution contemplates is based on separation of powers ’’

JUSTICE MODIBBO ALFA BELGORE, FORMER CHIEF JUSTICE OF NIGERIA xx

CJN, states’ CJs should curtail excesses of SANs –Sagay 42

Buhari

Osinbajo

FEDECO boss: Adesanya, Shagari’s legal battle 45

Tobacco firms to pay billions in damages in Canada 46

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FEDECO boss: Adesanya, Shagari’s legal battle FAMOUS CASES

Senator Abraham Adesanya was a Second Republic politician, who provoked controversy over the appointment of Justice Victor Ovie-Whiskey as Chairman of the Federal Electoral Commission (FEDECO) in 1980. He brought an action against the then President Shehu Shagari on the issue. FRANCIS FAMOROTI, Head, Judiciary discusses the issue and the verdict in the epochal case.

enator Adesanya, a lawyer and prominent politician in the 80s, was a member of the defunct Unity Party of Nigeria (UPN) founded by the late sage, Chief Obafemi Awolowo. When Adesanya was in the Senate between 1979 and 1983, the UPN was the main opposition party hence, the politician belonged to the class of legislators that kept the ruling National Party of Nigeria (NPN) on its toes. Other notable senators in the National Assembly at the time were, the UPN Senate leader, late Chief Jonathan Odebiyi, late Senator Mubashir Abiru (later Justice) , Senator Ayo Fasanmi, and Senator Cornelius Adebayo, all of the UPN. Prominent among the NPN senators during the period were, the then Senate President, Dr. Joseph Wayas, his deputy, John Wash-Pam, the Senate leader, Dr. Olusola Saraki, Senator David Dafinone, Senator Victor Akan and late Senator Joseph Tarka. Equally popular were Senator Onyeabo Obi and Senator Nathaniel Anah both of the defunct Nigeria Peoples’ Party (NPP). As a formidable figure in the National Assembly of the Second Republic, Adesanya made waves by his courageous criticisms of the acts of the ruling party. In his unrelenting objections to the conduct of the NPN-led Federal Government, he challenged in the court, Alhaji Shagari, over his appointment of Justice Ovie-Whiskey as the Chairman of FEDECO. The headquarters of FEDECO was on King George Road, Onikan while the National Assembly was at Tafawa Balewa Square, Race Course. The case Adesanya filed against Shagari is a locus classicus on the principle of locus standi, which implies the legal capacity of a person to institute proceedings in a court of law. Adesanya pursued the matter logically to the Supreme Court, where he lost and was described as a mere busy body. This incident happened about 15 years before his mysterious disappearance during an attempt on his life in Lagos by Sgt. Barnabas Jabila a.k.a Rogers and the Strike Force hit squad in 1996. As it were at the time, Adesanya had sought a declaration and injunctions that the appointment by Shagari of the jurist as FEDECO boss was unconstitutional. Under section 141 of the 1979 Constitution, the President was empowered to appoint the chairman of FEDECO, after consultation with the Council of State and subject to the confirmation of the Senate. The appointment was made on June 3, 1980 by the Presidency and it was confirmed on July 17, 1980 by the Senate. Expressing his reservation over the appointment and confirmation by the Senate, Adesanya proceeded to the Lagos High Court, where the declaration he sought was granted, but the injunctions were refused.

Adesanya

Indeed, the question of unconstitutionality was decided upon by the High Court. The trial judge had held that the appointee was not qualified, which made the President’s action appointing Ovie-Whiskey unconstitutional. The President appealed to the Federal Court of Appeal where the appellate court raised suo muto the issue of Adesanya’s locus standi and invited the submissions from the parties on it. The Attorney General for the Federation, Chief Richard Akinjide (SAN), who represented the respondents, submitted that the appellant had no personal interest in the matter and so had no locus standi to bring the action, where the relief sought by him would confer no tangible benefit on him. But Adesanya’s lawyer, Chief Gani Fawehinmi, contended that he had locus standi to bring the action by virtue of the oath of allegiance and the oath of membership of the Senate to “preserve, protect and defend the Constitution.” After these submissions, the appellant’s lawyer invoked the provisions of section 259(3) of the Constitution which provides as follows: “Where any question as to the interpretation or application of this Constitution arises in any proceedings in the Federal Court of Appeal and the Court is of the opinion that the question involves a substantial question of law, the Court, may, and shall if any party to the proceedings requests, refer the question to the Supreme Court which shall give its decision upon the question and give directions to the Federal Court of Appeal as it deems appropriate.” The question of Adesanya’s locus standi was accordingly referred to the Supreme

Shagari

THE SUPREME COURT UNANIMOUSLY HELD THAT

ADESANYA HAD

LOCUS STANDI TO BRING THE ACTION Court. The leading judgment was delivered by the Chief Justice of Nigeria (CJN), Justice Atanda Fatayi-Williams. The Supreme Court unanimously held that Adesanya had no locus standi to bring the action because he had not shown that the appointment and subsequent confirmation by the Senate of Justice Ovie-whiskey as FEDECO boss had affected his civil rights and obligations. In his judgment, the CJN listed the three circumstances under which a person could challenge any infractions of the provisions. He said the first situation occurred under provisions such as section 145 which states that in its exercise of powers, FEDECO or any other statutory commission “shall not be subject to the direction or control of any other authority or person.” The CJN declared among others, that Section 267 of the 1979 Constitution provides that no civil or criminal proceedings could be instituted or continued against any person holding the office of President of the Federation, Vice-President of the Federation, Governor of a State, or Deputy Governor of a State, during his tenure of office. The apex court also held that sections 132(1) and 170(10) of the 1979 Constitution provided that no proceedings or determination of the Committee appointed to investigate allegations of misconduct made

against the President, or his Deputy, Governor or Deputy Governor, or “any matter relating thereto shall be entertained in any court”. It follows that under these provisions, Adesanya’s locus standi to challenge the matters was severely curtailed. Besides, the CJN however admitted that where a plaintiff was seeking to establish a “private right” or “special damage” either under the common law or Administrative Law, in non-constitutional litigation, by way of an application for certiorari, prohibition or mandamus, or for declaratory and injunctive relief, he would have locus standi in that matter if he showed he possessed legal right or established special or sufficient interest in the performance of the duty sought to be enforced, or shows that his interest was adversely affected. Other justices notably Sodeinde Sowemimo, Andrew Obaseki, Chukwuweike Idigbe, Mohammed Bello, Augustine Nnamani concurred with the lead judgment. Referring to Adesanya’s peculiar political status, Justice Sowemimo said that there “no provision in the judicial powers provided in Section 6 of the 1979 Constitution for any legislator to appeal to any court against the majority decisions.” Justice Obaseki while supporting the lead judgment said, “the mere fact that an act of the executive or legislature is unconstitutional without any allegation of infraction of or its adverse effect on one’s civil rights and obligations poses no question to be settled between the parties in court.” Justice Idigbe aligned with the lead verdict and espoused the scope of judicial power. Justice Bello also held that the taking of oath to ‘’ preserve, protect and defend the Constitution” only imposed a duty on the taker of the oath to protect to protect the Constitution in the particular sphere of activity in which he found himself engaged. He dismissed Fawehinmi’s submission that section 33(1) of the 1979 Constitution had guaranteed standing to institute action against the government or authority to question any constitutional act. Justice Nnamani said the litigant must show that the act of which he complained affects rights and obligations peculiar or personal to him. The position of the law during the Second Republic, therefore, was that an applicant challenging infractions of the Constitution, must show that he had a right that had been infringed by such infractions, or if the alleged infraction affected the applicant in common with the general public, that he had suffered injury over and above that suffered by the public at large. Adesanya’s case had shown in interpreting the 1979 Constitution, there were restrictions on a person’s ability to challenge infractions of the Constitution.

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Monday, June 8, 2015

MH370 disappearance: Negligence suit settled out -of -court

Tobacco firms to pay billions in damages in Canada

MALAYSIA

wo Malaysian children, who lost their father on flight MH370, have settled their negligence case out of court. According to BBC report, it is thought to be the first of such case since the plane went missing between Kuala Lumpur and Beijing in March 2014. The children’s mother said she had accepted compensation from Malaysia Airlines and the government so the boys could move on with their lives. The amount has not been disclosed. The family of Jee Jing Hang, who was on the plane, brought a lawsuit against Malaysia Airlines on behalf of his two young sons last October for breach of contract, as it had failed to deliver passengers to Beijing. The family also brought claims against the Malay-

CANADA

A Prime Minister of Malaysia, Najib Razak

sian government, the Department of Civil Aviation, the immigration department and the air force for negligence. “The court was informed that all the parties in the suit had come to an amicable settlement,” Gary Edward Chong, a lawyer for the family, told the AFP news agency. The families of other victims have been following the case closely and experts believe this settlement will trigger other similar legal actions.

Abortion clinic sues city council to stop patients’ harassment AUSTRALIA

Australian Prime Minister, Tony Abbott

n abortion clinic in East Melbourne is asking the Supreme Court to order Melbourne City Council to deal with people it says are harassing female patients and staff. BBC reported that Law firm Maurice Blackburn said a group calling itself Helpers of God’s Precious Infants stand outside the Fertility Control Clinic trying to stop women getting abortions. Lawyer Lizzie O’Shea said the clinic was a ratepayer and resident of the city

council and had the right to be protected. “They’re bringing an action which alleges that the Melbourne City Council has failed to act upon a duty that it has under the Public Health and Well-Being Act,” she said. “That duty is to remedy nuisances occurring in its municipal district that are dangerous to health.” In July 2001, security guard Steve Rogers was fatally shot at the clinic. Anti-abortionist Peter James Knight was convicted of his murder and is serving a life sentence with a nonparole period of 23 years.

Canadian court has ordered three tobacco companies to pay C$15.5bn (£8bn; $12bn), the largest award for damages in the country’s history. According to BBC report, the plaintiffs were Quebec smokers, who said the firms failed to warn them of health risks associated with smoking. Imperial Tobacco Canada, Rothmans Benson & Hedges and JTI-MacDonald vowed to appeal against the decision. The class-action lawsuits were filed in 1998, but only recently went to trial in the courts. The firms argued that Canadians have had a “high awareness” of smoking health risks since the 1950s. “That awareness has been reinforced by the health warnings printed on every legal cigarette package for more than 40 years,” JTI-Macdonald

said in a statement. But the plaintiffs argued that the companies did not properly warn their customers and failed in their general duty “not to cause injury to another person”, according to the Quebec Superior Court decision. US courts often order tobacco companies to pay large awards but, upon appeal, the headline figure is often reduced substantially - a $28 bn (£18.3 bn) against Philip Morris was reduced to $28 million on appeal in 2011. American tobacco firms agreed in 1998 to pay US states over $200bn (£131bn) in fines in what is the largest civil litigation suit in US history. US states have been criticised for not spending enough of the compensation on anti-smoking programmes - the New York Times even reported that some of the money has gone to help tobacco farmers modernise. They represent nearly one million smokers who were unable to quit or who suffer from throat or lung cancer,

Canadian Prime Minister, Stephen Harper

or emphysema. Explaining his ruling, Judge Brian Riordan said: “The companies earned billions of dollars at the expense of the lungs, the throats and the general well-being of their customers. “If the companies are allowed to walk away unscathed now, what would be the message to other industries that today or tomorrow find themselves in a similar moral conflict?”.

Europe’s top court deems German’s tax on nuclear fuel legal LUXEMBOURG

he European Union’s highest court has ruled that Germany’s tax on nuclear fuel is not incompatible with EU law. The court’s decision responded to a series of questions forwarded to the Luxembourg-based Court of Justice by the Hamburg Finance Court, where Kernkraftwerke Lippe-Ems, which operates the Emsland nuclear power station in northern Germany had filed a legal challenge to the levy. BBC report says German Environment Minister, Barbara Hendricks ,welcomed the news, saying the ruling was a “good argument for a possible extension of the nuclear tax until the end of the operating life of the last German nuclear power plant.” Currently, the tax, originally introduced in 2011, is

scheduled to expire in 2016. On the other hand, the decision is a blow to the hopes of Germany’s top three energy producers, E.ON, RWE, and EnBW of recovering and estimated 5 billion euros ($5.67 billion) in tax that they have already paid. The judgment didn’t come as a major surprise, four months after an advisor to the European Court issued a non-binding opinion, in which he also found that the tax did not breach EU law. Despite the ruling, however, the power corporations, which argue that the tax is illegal as it gives producers of other sources of electricity an unfair advantage, have not completely given up hope. A challenge has also been filed at Germany’s top court, the Federal Constitutional Court in Karlsruhe, which could still rule that the tax is illegal. It

is expected to hand down a decision by the end of the year. The tax, which technically applies to spent nuclear fuel rods, came into force at the start of 2011, after Chancellor Angela Merkel’s conservative government had reversed a plan implemented by the previous Social Democrat-Greens government, led by Gerhard Schröder, to phase out nuclear power. The changes would have allowed German nuclear power producers to keep their plants open for as many as 14 years longer than under the Schröder plans. However, Merkel’s government back-tracked on the extension later in 2011, in light of the Fukushima nuclear disaster in Japan - but declined to revoke the tax. This is when the nuclear companies first cried foul, saying that forcing them to shut down by 2022 would cause them to lose billions of euros.

I feared seeing senior colleagues in court –Onwudebe

actually had my challenge appearing before a judge for the first time. It was at the Federal High Court, La-

gos, before Justice Ibrahim Idris. It was a civil matter between a claimant and a Bank, I represented the bank. Because, the matter was for hearing I had prepared my questions to cross-examine the second defendant witness, which made it easy for me to flow in the court. The witness answered all the questions I put to him, the case was closed for the adop-

tion of final written address. We all agreed on a particular date and the judge adjourned the matter. When I got out of court, I was happy and felt relieved because appearing before a judge is different from public speaking, which I am used to. Though it was not too difficult, but I had fear in seeing the senior colleagues in court I am glad that I performed very well.

Chijioke Onwudebe

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Land Use Act 2004: Effects on society and engineering DAFE AKPEDEYE

he Land Use Act of 2004 is made up of eight parts of 51 sections. It addresses four important issues arising from the former land tenure systems in Nigeria: the problem of lack of uniformity in the laws governing land-use and ownership; the issue of uncontrolled speculation in urban land; the question of access to land rights by Nigerians on equal legal basis; and the issue of fragmentation of rural lands arising from either the application of traditional principles of inheritance and/or population growth and the consequent pressure on land. It approaches these issues via three related strategies: the vesting of proprietary rights in land in the State; the granting ofusufructuaryrights in land to individuals; and the use of an administrative system rather than market forces in the allocation of rights in land. The general principles of the Act state that: subject to the provisions of this Decree, all land comprised in the territory of each State in the Federation are hereby vested in the Governor of the State and such land shall be held in trust and administered for the use and common benefit of all Nigerians. The legal status of the Nigerian land user becomes that of statutory occupancy, not one of ownership’; and the economic interests and benefits of ‘statutory rights of oc-

cupancy are severely limited by law since proprietary interests in land are lost and claims are restricted to improvements made on the land. While the Governor is empowered to grant statutory rights of occupancy within his State, the Local Governments may grant customary rights of occupancy essentially for agricultural purposes. The grant, however, may not exceed 500 hectares if used for agricultural purposes or 5,000 hectares if used for grazing. Section 26 of the Land Use Act states that any transaction in land which purports to confer on, or vest in any persons, any right or interest over land other than as stated in the Act, shall be ‘null and void.’ The Act (in Part V) empowers the Governor to revoke rights of occupancy for reasons of overriding public interest: such as alienation of the land by the occupier without due approval, requirement of the land by Federal, State or Local Government for public purposes. In such cases, compensation may be paid but only for ‘unexhausted improvements’ on land and not for the land itself since with the Act, land no longer has an economic value. Furthermore, a breach of any of the provisions of the Act or a refusal or neglect to accept and pay for a certificate issued as evidence of a right of occupancy could lead to one’s land being expropriated. It is important to note that the provisions of the Land Use Act of 2004 have been enshrined in the constitution of the Federal

EVENT

L-R: Chairman, NBA, Lagos branch, Mr. Alex Mouka, 2nd Vice-President, NBA, Mr. Taiwo Taiwo and NBA President, Mr. Austin Alegeh (SAN) at a monthly media briefing in Lagos, recently.

L-R: Chairman, NBA, Ikeja branch, Mr. Yinka Farounbi and NBA Publicity Secretary, Mr. Gbolahan Gbadamosi.

LUA MADE ACQUISITION OF LAND BY INDIVIDUALS AND CORPORATE BODIES FOR COMMERCIAL AND ECONOMIC DEVELOPMENT PURPOSES EXTREMELY DIFFICULT Republic of Nigeria. This implies that the provisions of the Act cannot be amended or expunged, altered or repealed except as provided by the stringent conditions stated in the constitution for the alteration of its provisions. It is clear from the foregoing analysis that land management under the Land Use Act has provided an appropriate enabling environment for prospective investors, private individuals and other corporate bodies. The various criticisms of the Land Use Act have provided elements that can move the nation forward. They clarify options to deal with the issues of the complexity of rights now streamlined in the Act. This can lead to efficient system of land management. The legal, institutional and technical frameworks for land management should be linked. It must be noted however that such legal, institutional and technical frameworks alone do not determine the policy choices. Rather, the choices define the framework with which to design an appropriate system of land management. There is no doubt that land is the most vital ingredient of national socioeconomic development of a nation. Land is wealth no matter its nature or conditions. No land is ever without its purpose. This is because on it depends every economic activity. However a community or country utilizes land determines the level and kind of economic development that takes place in that community or country. The history of land utilization and development in Nigeria dates back to the pre-colonial era. The enactment of Land Use Act in March 1978 by the then Obasanjo military dictatorship marked a watershed in the history of land development in Nigeria. Ever since, there has been countless litigation in courts both on hitherto customary ownership and the new methods of land acquisition that have set individuals, communities and the state against one another. These conflicts are most manifest in the Niger Delta region of Nigeria where the people there are vociferously claiming ownership of lands and all the mineral resources inherent in them. The pains of land disputes and conflicts remain gruesome and indelible in the memories of the victims and the collective consciousness of the country. The main fault of the Land Use Act as earlier reiterated was that it transferred title and ownership of land from individuals and communities to the Governors who hold the land in trust but many of whom have been known to have abused the power and privileges conferred on them by the Act. It also made acquisition of land by individuals and corporate bodies for commercial and economic development purposes extremely difficult.

Effects on Engineers It is pertinent to state unequivocally that

the Land Use Act in its present form has same effect on all individuals, be it a lawyer, a banker, an engineer or whatever professional. The rights, restrictions, liabilities and responsibilities are same for anybody with title to any piece of land. Section 22 of the Act requires the acquisition of Governor’s consent before a statutory right of occupancy can be alienated. This is necessary where there is a transfer of title from a vendor to a purchaser. Furthermore, Section 28 of the Act empowers the Governor to revoke a right of occupancy for overriding public interest. It applies to all persons concerned in that the government can acquire a person’s or communal land on grounds of public interest, with the requirement of just paying for improvements on same land. As it is at that point, the land ceases to have any commercial significance with no financial value. Under the Section 28 of the Act, sub-section 2 defines “overriding public interest” in the case of a statutory right of occupancy as; (a). the alienation by the occupier by assignment, mortgage, transfer of possession, sub-lease, or otherwise of any right of occupancy or part thereof contrary to the provisions of this Act or of any regulations made thereunder; (b). the requirement of the land by the Government of the State or by a Local Government in the State, in either case for public purposes within the State, or the requirement of the land by the Government of the Federation for public purposes of the Federation; (c) The requirement of the land for mining purposes or oil pipelines or for any purpose connected therewith. 3. Overriding Public Interest in the case of a customary right of occupancy means(a) the requirement of the land by the Government of the state or by a Local Government in the State, in either case for public purposes within the State, or the requirement of the land by the Government of the Federation for public purposes of the Federation; (b) the requirement of the land for mining purposes or oil pipelines or for any purpose connected therewith; (c) the requirement of the land for the extraction of building materials; (d) the alienation by the occupier by sale, assignment, mortgage, transfer of possession, sub-lease, bequest or otherwise of the right of occupancy without the requisite consent or approval. 4. The Governor shall revoke a right of occupancy in the event of the issue of a notice by or on behalf of the President if such notice declares such land to be required by the Government for public purposes.

The Effects on Engineering For clarity of this presentation, we shall restrict our discourse to Petroleum Engineering. The nexus between the Land Use Act and Petroleum Engineering is in the very nature of land which houses crude oil from which Petroleum and its other brethren are derived. Akpedeye, a Senior Advocate of Nigeria (SAN) writes from Warri, Delta State. CONTINUED NEXT WEEK

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Community Mirror We have a clear vision of what we plan to do in the next four years as we have outlined a five-point agenda to enthrone a legacy of wealth and prosperity for all our people. Governor of Delta State – Ifeanyi Okowa

Man nabbed over alleged sale of son Dare Akogun

pecial Anti-Robbery Squad of Lagos State Police Command has arrested a man for allegedly selling his 2-year-old son for N300, 000. The suspect Kanayo Awurum, a painter, from Imo State, eastern Nigeria, according to investigation allegedly impregnated his girlfriend, one Ugochukwu Kelechi, and absconded shortly after that. It was further revealed that Awurum allegedly came back two years later, and apologised to her. Thereafter he relocated to Lagos with his wife and left his son in the care of a relation in his village. He allegedly told Kelechi about his intention to use his son for a loan, with a promise that after three months, he

would offset the loan and claim the boy back. It was gathered that Awurum’s friend, Ibe Emmanuel, allegedly advised him to sell off the boy and even assisted in looking for a buyer in Port Harcourt where the boy, Chukwunonyerum Samuel, was allegedly sold to one Mrs. Chinwe for N300, 000. Awurum allegedly used part of the money to rent a self-contained room at Ikotun and paid for a year and half. After some time, one of Awurum’s relatives called him for a house painting contract in Owerri. He proceeded to Owerri from where he called Kelechi and told her that the landlord should rent out the self-contained room in Lagos to another person. The woman became worried and suspicious until Awurum

stopped picking her calls. This prompted her and the landlord to report the matter to Ikotun Police station and the matter was later transferred to Lagos. He was tracked down and arrested and upon interrogation, he allegedly confessed to the police that he sold his son. Lagos State Police Command Public Relations Officer, Kenneth Nwosu confirmed the arrest. He said that SARS operatives have been dispatched to Port Harcourt to arrest the buyer of the boy and recover him, adding that all those who participated in the illegal child abuse, human trafficking and sale of the boy would be prosecuted as soon as investigation is concluded. The victim’s mother Kelechi, 28, from Ikeduru, Imo State, an apprentice caterer, said she met Awurum while she was in a sec-

An SUV that rammed into a shop at Jakande Estate, Isolo, Lagos. PHOTO: ABIOLA ABDULHAMMED

Natural disaster hanging over Nigeria –Cleric Boladale Bamigbola OSOGBO.

n Osun-based clergy, Evangelist Funke Olusesi, yesterday said Nigeria is at the risk of a massive earthquake, which may lead to loss of lives and properties. Speaking to newsmen in Osogbo, Olusesi, who claimed she got message about the impending disaster from God, said it was revealed to her in dream that natural disaster of high magnitude is hanging on the nation.

She said God gave her the message to pass to Nigerians that a day should be set aside for praise and worship for the disaster to be averted. An evangelist at The Apostolic Church, Iroye Assembly, Ilesa, while responding to questions from newsmen, said: “I was sleeping in the night when God woke me up and directed me to pass a message to Nigerians that an earthquake is going to occur in one of the states in Nigeria. “God did not show me the state but he said that the government should set aside a special day to pray against the oc-

currence of the disaster. “The prayer session should be devoted to praise God and the disaster will be averted. That is the message God gave to me to deliver to all Nigerians.” She further explained that for her refusal to deliver the message early as directed by God, Olusesi said she had been severely punished. She then called on President Muhammadu Buhari and governors of states across the country to meet and declare a day that will be dedicated to praise and worship by all Nigerians.

ondary school and they both dated for 10 years before she got pregnant for him. “He came to my family to tell them he wanted to marry me. They told him to go and bring his family members. Since then, he ran away. After one year, I gave birth to the baby that was sold. He called

me and started begging. When he had an accident, I was worried and went to see him. When he recovered, he told me that if I was still interested I should prepare to relocate with him to Lagos. I never knew it was a ploy to sell our son. I am now two months pregnant for him again,” she said.

Choirmaster arraigned for allegedly raping chorister

bricklayer and choirmaster, Adewale Babalola, who allegedly had unlawful carnal knowledge of a 16-yearold chorister in his church, was on Thursday brought before a Yaba Chief Magistrates’ Court in Lagos. The accused, 36, who lives at No. 11, Maxwell Ijeh St., Aguda in Surulere area of Lagos, is facing a charge of unlawful sexual intercourse. According to the prosecutor, ASP Godwin Anyanwu, the accused committed the offence on Dec. 2, 2014 at his apartment. He said the accused took undue advantage of his relationship with the teenager as her choirmaster at Christ Our Light Glory Church, Sanya in Surulere, to commit the crime. ``The girl told her father, who is also an evangelist in the church that the accused lured her into his room and forcefully

had a carnal knowledge of her. ``The father reported the matter to the General Overseer of the church, but no action was taken which compelled the victim’s father to report the matter at the police station,” Anyanwu said. The offence, Anyanwu noted, violated Section 137 of the Criminal Law of Lagos State, 2011. Babalola, however, pleaded not guilty to the charge. The Chief Magistrate, Mrs A.O. Soladoye, directed that the case file should be forwarded to the Director of Public Prosecutions (DPP) for legal advice. The News Agency of Nigeria (NAN) reports that Section 137 prescribes life imprisonment for child rape. The magistrate granted the accused bail in the sum of N200, 000 with two sureties in like sum and adjourned the case to June 29 for DPP’s advice.

Artisan arraigned over fraud

n auto mechanic, Sunday Ade, was on Monday charged before an Ebute Meta Chief Magistrate’s Court in Lagos for allegedly obtaining N500, 000 under false pretences. The accused, 29, is facing a threecount charge of conspiracy, stealing and obtaining money on false pretext. Ade, however, pleaded not guilty to the charges. But the prosecutor, DSP Etim Nkankuk, told the court that the accused committed the offences on Feb. 9 at Aguda in Surulere area of Lagos with his brother still at large. He said Ade obtained N500, 000 from one Elochukwu Peters under the pretext that he would cure his wife’s ailment.

``The complainant was referred to Ade’s brother, who is still at large by the accused himself to cure the ailment. ``Peters was made to believe that the duo could help find a cure to his wife’s ailment. ``He was asked to bring N500, 000 as payment for the cure only for him to find out that he had been duped,’’ the prosecutor said. Nkankuk noted that the offences contravened Sections 285, 312 and 409 of the Criminal Law of Lagos State 2011. The Chief Magistrate, Mr A.O. Isaac, granted the accused bail in the sum of N200, 000 with two sureties in like sum. The case has been adjourned till July 1 for mention.

Monday, June 8, 2015

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World News

“It should be clear: the hypocrisy that is sweeping the world will not chain our hands from defending the citizens of Israel.” –ISRAELI PRIME MINISTER, BENJAMIN NETANYAHU

Al-Bashir forms new Sudanese government

udanese President Omar al-Bashir has formed a new government a month after winning elections that were boycotted by the main opposition parties and tarnished by a poor turnout. The key foreign ministry portfolio has gone to Ibrahim Ghandour, a former presidential assistant. Mohamed Zayed has been appointed oil minister, while Mustafa Osman Obeid was appointed acting defence minister. The new government will comprise a total of 31 cabinet ministers. Speaking at his inauguration last week, the president said that he wanted to repair ties with the West, tackle corruption and bring peace to the country. Another priority is restoring Sudan’s ailing economy. Bashir, 71, seized power in an Islamist-backed coup in 1989. Even President Bashir has been forced to admit - with civil war(s) continuing, and the ongoing economic crisis - that Sudan

President Bashir won elections in April with more than 94% of the vote - which was boycotted by most opposition parties

needs to change, and this reshuffle is part of his promised reforms. The most surprising decision is the removal of Abdel Rahim Hussein as defence minister, as for many years he has been

President Bashir’s confidant and friend. Hussein has been named governor of Khartoum state, one of several changes among the governors, which seem designed to remove any who were developing

sizable local power bases. But simply replacing ministers and governors will not bring change. Instead, the way Sudan is governed will have to improve if the country is to escape from its current malaise.

Italian leaders vow to shelter no more rescued migrants

eartened by recent election successes by an anti-immigrant party, Italian politicians based in the north vowed yesterday not to shelter any more migrants saved at sea, even as hundreds more were being rescued in the Mediterranean from smugglers’ boats in distress. Elsewhere in the country, however, corruptions investigations have revealed that some local officials gleefully see a cash cow in the shelters. After nearly 3,500 migrants were rescued in a single day Saturday by an array of European military vessels, well over 1,000 more were being plucked to safety from at least 14 boats that ran into difficulty Sunday shortly after smugglers set off with them from Libyan shores, said a U.N. refugee agency official, Federico Fossi. Two German military ships brought a total of some 1,400 people to Sicilian ports Sunday, a day after they were rescued. Mayors of Sicilian and other southern towns have warned for months they’ve

WORLD BULLETIN

Warships rescue thousands off Libya coast European warships and coast guard vessels have rescued more than 2,000 migrants off the coast of Libya. The Malta-based, Migrant Offshore Aid Station, said it co-ordinated the operation along with Italian, Irish and German ships. Italy’s coastguard could not confirm the numbers, but said it was trying to help around a dozen other vessels. HMS Bulwark, a British Royal Navy ship, is also making its way towards Libya to assist with the situation. BBC correspondent, who is on board, said the ship’s crew would launch helicopters and landing craft on Sunday morning in the expectation they would pick up more migrants. The Bulwark has already saved almost 1,800 people over the past month.

Al-Qaeda claims two Algerian attacks The North African wing of al Qaeda has claimed two attacks on Algerian military and security forces in the east of the country that killed at least five people, the U.S.-based SITE jihadist monitoring service said yesterday. Attacks are rarer in Algeria since the end of its civil war with Islamist militants in the 1990s. But al Qaeda in the Islamic Maghreb (AQIM) is still active, and another splinter group has pledged allegiance to Islamic State. SITE said AQIM claimed responsibility on a social media account for a roadside bomb that killed an Algerian army colonel and wounded two others last week, and an attack that killed four members of a local neighbourhood watch brigade.

Egypt’s court overturns Hamas terror blacklisting Migrants disembarking from German Navy ship, Hessen, at Palermo harbour, Italy,

run out of room for migrants, and thousands of the rescued are being resettled in shelters in central and northern Italy while their asylum requests are processed. The migrants flee poverty, persecution and war in Africa, the Middle East and Asia. Among the north-based Italian politicians refusing to accept more migrants Sunday was newly-elected Liguria Gov. Giovanni Toti. Toti’s can-

didacy was backed by his mentor, former center-right Premier Silvio Berlusconi, and by the anti-immigrant Northern League party, which was bolstered by results in balloting for governorships a week ago. In Lombardy, whose capital is Milan, Italy’s financial center, longtime League leader, Gov. Roberto Maroni, asked followers on Twitter if they agreed with him that “Lombardy mayors must refuse to wel-

come clandestine migrants” sent by the national government or else face regional funding cuts as punishment. Fuelling pledges to welcome no more migrants in their regions was a warning Saturday from Britain’s defence secretary, Michael Fallon, that hundreds of thousands of migrants might be in Libya, poised to attempt the perilous sea crossing over the summer months.

Egypt’s appeals court has overturned a ruling that listed the Palestinian militant group Hamas as a terrorist organisation, court officials said. One of them told a news agency the ruling in February was quashed because the lower court was not “competent” to make such verdicts. Hamas, which controls the Gaza Strip, welcomed Saturday’s ruling. Hamas is an offshoot of Egypt’s Muslim Brotherhood - itself designated as a terrorist organisation in 2013. Egypt’s Muslim Brotherhood President Mohammed Morsi was ousted in 2013. Hamas said the appeals ruling was “correcting a previous mistake”. Hamas spokesman Sami Abu Zuhri told Reuters news agency:

South South

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

APGA, PDP win rescheduled Bayelsa election Osahon Julius YENAGOA

Bayelsa State Commissioner for Environment, Mr. Iniruo Wills, receiving an artwork from pupils of Sedar Court Schools, during the commemoration of World Environment Day in Yenagoa, at the weekend. PHOTO: NAN

SPDC boosts healthcare in N’Delta, trains 300 midwives

ealthcare delivery in six Niger Delta states looks set for upswing with the training of 300 midwives to support government’s effort in getting skilled health workers to rural communities. The 18-month midwifery certification training, which commenced in 2014, aims at producing skilled and motivated change agents in the hinterland, where statistics show that 45 per cent of women were delivered of babies with the help of unskilled birth attendants, thereby increasing the risk of maternal and infant mortality in such areas. The initiative is sponsored by Shell Petroleum Development Company (SPDC) of Nigeria Ltd’s Joint Venture in collaboration with governments of Rivers, Bayelsa, Delta, Imo, Abia and Akwa Ibom states, as well as New Partnership for Africa Development (NEPAD). “This is a unique intervention that invests not only in individual beneficiaries, but also in the people hoping to benefit from their newly acquired skills,” said SPDC’s acting Regional Community Health Manager, Dr. Akinwumi Fajola, at a chequepresentation ceremony in Port Harcourt. “The training is in line with SPDC’s commitment to improving healthcare in rural areas and will make the much-needed difference in hard-to-reach locations in the Niger Delta,” he added. SPDC’s acting Head of

Department, Partnership and Collaboration, Dr. Dennis Oyakhire, commended the states’ ministries of health for their commitment to success of the partnership. He said: “In 2014, the beneficiaries received the first instalment of the scholarship fund and today we are happy to present the second

(and final) cheques to them. We are all looking forward to enjoying the benefits of this initiative.” Director of Nursing Services, Abia State Ministry of Health, Pastor Ekeagba Promise, thanked SPDC for training the midwives. As part of the programme, the 300 trainees are studying in accredited

state schools of midwifery and are also sent on clinical attachments in community hospitals, all with a view to preparing them for the final qualifying examination of the Nigerian Nursing and Midwifery Council. SPDC, in addition provides them with modern laptops to facilitate research and documentation.

Traditional ruler wants cost of governance reduced by 50%

traditional ruler in Cross River State, Nya Asuquo, has called on new governments in the country to reduce the cost of governance by slashing salaries of political office holders by 50 per cent. Asuquo made the call yesterday in Calabar when he addressed newsmen at the Margaret Ekpo International Airport. Asuquo, who represented Calabar/Odukpani Federal Constituency in the National Assembly, said it was important to slash the jumbo pay of political office holders in order to reduce cost of governance. “Every political office holder’s salary in this country should be slashed by at least 50 per cent. The cost of governance in Nigeria is the highest in the world. “It is wrong to use half of the country’s resources to pay salaries and emoluments of political office hold-

ers with nothing left for capital development. “If we do not have money for capital development, the country will not develop; we are spending too much on recurrent expenditure that does not generate income,’’ he said.

According to him, President Muhammadu Buhari has promised to cut the cost of governance to an acceptable level, adding that the action would save the country some fund that could be used for developmental projects.

here is uneasy calm as candidates of the All Progressives Grand Alliance, APGA, and the Peoples Democratic Party, PDP, yesterday won the Brass Constituency 2 and Ogbia Constituency 2 seats in the rescheduled House of Assembly election in Bayelsa State amid sporadic shooting by armed men suspected to be hired thugs. The rescheduled election was marred by alleged hijack of election materials and voters’ apathy due to shootings by unknown gunmen suspected to be hired thugs, who operated unmolested by hundreds of security personnel deployed in the areas. It was gathered by our correspondent that the election in Brass Constituency 2 witnessed a large turnout of voters with APGA candidate, Hon. Alfred Watson, defeating candidates of the ruling PDP and the All Progressives Congress, APC, with 849 votes. According to the results declared at 5am yesterday by the returning officer, who is a lecturer at the state-owned Niger Delta University, Mr. Perekere Bertola, of the 2,805 accredited voters, APGA candidate scored 849; PDP candidate scored 380, while APC’s scored 476 votes. Some supporters of APGA candidate claimed that attempts by sus-

pected PDP supporters to allegedly collude with security personnel to hijack voting materials and declare the election inconclusive were thwarted by angry youths from the constituency. At Ogbia Constituency 2, the turnout of voters was poor, while election materials were hijacked from voting venues by some armed men and uniformed policemen. APC leaders in Ogbia said the House of Assembly candidate of the party, Hon Tonye Okio, was later invited at midnight by some officials of the Independent National Electoral Commission, INEC, to witness the counting of votes, contrary to provisions of the Electoral Act. Contacted on the development, Hon. Okio said election into the seat of the Ogbia Constituency 2 did not hold as it was marred by intimidation, saying that "over 500 policemen held the voting venues under siege. While the soldiers stayed away from the voting venues, armed policemen led by an Assistant Commissioner of Police, ACP, and a Supol suspected to have been deployed from the state" took charge. "I learnt that they have declared the PDP candidate as the winner after counting the votes in INEC office with only INEC officials and PDP leaders present. I am waiting for the INEC to declare me winner of the election based on the vote cast and counted by the people."

IYC president’s brother abducted in Bayelsa Osahon Julius YENAGOA

ncreasing cases of kidnapping in Bayelsa State, especially in the riverine areas, is now a great source of concern to the state government and security agencies, as a man simply identified as Erepamo, who is a brother to president of the Ijaw Youth Council (IYC) Worldwide, Mr. Udens Eradiri, has been abducted by kidnappers in the state. Already, the kidnap-

pers of the younger Eradiri were said to have established contact with their victim's family, demanding N20 million ransom. Erepamo was said to have been kidnapped at Famgbe, a riverine community in Yenagoa Local Gover nment Area, last Friday by assailants, who were said to have accosted him in a commercial tricycle and whisked him away to an unknown place. It was, however, lear nt that the kidnap-

pers must have taken their victim to a creek in Lokpogbene, Souther n Ijaw Local Gover nment Area of the state. The IYC leader, who confir med the incident, said the abductors reached him and demanded N20 million, but however, insisted that no money would be paid by any member of his family for the freedom of his brother. He urged the kidnappers to release the victim and look for legal means of livelihood,

adding that as a leader of the youths he would not glorify the illegal business of abduction. He said members of the IYC in the area had been contacted to locate the kidnappers and free their victim. He said the matter had been reported to the police. It was also gathered yesterday that three female cousins of for mer President Goodluck Jonathan kidnapped at Akempli were set free on Friday.

National Mirror www.nationalmirroronline.net

North

Monday, June 8, 2015

Polio: Katsina to immunise 2.6m children JAMES DANJUMA KATSINA

Nasarawa State Governor Al-Makura donating N50, 000 cash to a six-year-old disabled, Sumaila, whose education he promised to sponsor in Lafia, yesterday. PHOTO: NAN

Buhari, Osinbajo will deliver –Kumuyi A ZA MSUE KADUNA

ounder and General Superintendent of Deeper Life Christian Ministry, William Kumuyi, has said President Muhammadu Buahri and Vice President Yemi Osinbajo will deliver on their campaign promises to Nigerians. Speaking at the weekend in Kaduna with jour-

nalists at the end of his crusade, Pastor Kumuyi called on President Buhari and other leaders to govern with the fear of God who ordained them. The 72-year-old preacher urged Nigerians to close ranks irrespective of religious affiliation to fight massive corruption confronting the nation, stressing that the church alone cannot fight corruption. “No need of blaming

people along religious line over corruption; the menace is in Nigeria. We should not say a leader or a person belongs to a particular religion and he or she is corrupt. We can join hands together and fight corruption in this country,” he said. Kumuyi, while advising people to repent from sinful act, expressed confidence that the present administration would do more to

end insecurity and vices in the country. He, however, urged churches and Christian leaders to always get involved in social welfare by empowering the poor in the society. Kumuyi, who preached in Kaduna and other neighbouring states without collecting offering, said his ministry was interested in preaching to people to live a good life with God.

Plateau guber poll: PDP’ll get justice –Sango JAMES ABRAHAM JOS

ormer Minister of Sports and Youth Development, Damishi Sango, has described Senator Gyang Pwajok as governor-inwaiting in Plateau State, saying the outcome of the governorship election in the state was not the will of the people. The former minister stated this in Jos at the weekend while commissioning Pwajok’s constituency projects in five local councils in Plateau North senatorial district of his state. They are Jos South, Jos East, Bassa, Riyom and Barkinladi. Sango said in Barkinladi and Jos South local councils the issue of who really won the governorship seat of the state was still hanging in the air. He noted that the Peoples Democratic Party, PDP, governorship candidate and the party have petitioned the election

tribunal already sitting in Jos over irregularities they discovered in that particular election. According to Sango, if PDP won the majority seats in the House of Assembly elections, won all three senatorial seats and six of the eight House of Representatives seats, it means Plateau remains a PDP state, and wondered how the governorship result could state differently. According to him, PDP did its home work and was expecting victory only for Jos North election result to have been delayed till late in the night on the second day after the polls. “Whatever happened behind the scene, we are looking forward to the panel of judges at the governorship appeal to right the wrong, because justice will prevail at the end of the day,” Sango stated. He commended Pwajok for executing constituency town hall buildings and skill acquisition centre for people of Plateau

North within two and a half years he spent in the Senate. The Plateau PDP chieftain also called on supporters to remain steadfast with the party, saying it remains the party to beat in the entire 17 local councils in the state. Earlier, senior legislative officer to Pwajok, Mr Abe Aku, told the gather-

ing at the five councils visited, that his boss influenced the projects, particularly town halls and skill acquisition centres, to empower and ensure the people have platform to meet and discuss issues affecting their well-being. He therefore urged the benefiting communities to maintain the structures, so they could last.

o less than 2.6 million children under five years are to be immunised in Katsina State against polio and related diseases. Governor Aminu Bello Masari stated this during polio vaccination launch over the weekend, adding that vaccination drugs worth N2.9 million had been purchased for the exercise. Masari said the state had in the last two years been free of polio and the exercise would ensure sustenance of the absence of the disease. Represented by his deputy, Mannir Yakubu, the governor, however, called on parents to present their children for vaccination to avoid the disease from resurfacing.

Yuguda tasks Bauchi govt on development

mmediate past governor of Bauchi State, Isa Yuguda, has called on his successor, Mohammed Abubakar, to focus on bringing more development and dividends of democracy to residents of the state. In a statement issued by his media team signed by Mr Jeff Kachikwu, Yuguda noted that despite various developments in the state, his administration left the state “without an overdrawn account. “The state raised a bond of N15 billion and N7 billion was used for repayment of previous loans, while the balance was used for completion of the Mega Specialist Hospital and

Invest in Adamawa, Atiku urges indigenes

ormer Vice President Atiku Abubakar yesterday called on wealthy indigenes of Adamawa to invest in the state. Atiku made the call during inauguration of Madugu Rockview Hotel in Yola, the state capital. According to the former vice president, the only way to develop the state is for well-to-do indigenes to invest in it. “It is unwise for wealthy citizens of Adamawa to invest else-

where while the state was lacking. “I therefore, challenge any well-meaning citizen of Adamawa State to come back home and invest in order to move our state forward,” Atiku said. Similarly, Governor Muhammadu Bindo expressed concern over poor investment attitude of its people. Bindo noted that the only way to develop the state’s economy was for its citizens to invest in agriculture, mineral explo-

He also directed the 34 council area chairmen to liaise with stakeholders to ensure success of the exercise in the state. He said a committee had been set up by the state government to look into healthrelated issues with health experts drawn from various fields as members. The permanent secretary, Ministry of Health, Ahmed Quabasiyyu, said 13,000 ad hoc staffers have been recruited to ensure success of the exercise. Quabasiyyu assured parents that the vaccines were not harmful to children, and were those used in other parts of the world to fight the disease. Representatives of various international organisations, including UNICEF and WHO, called on the state government to sustain the two-year absence of polio in the state.

ration and others. “Another is to move from monthly-based oil allocation to agriculture and mineral resources exploration. ”We can only achieve these if wealthy citizens of the state support us, and from government’s side, we are ever ready to work and encourage those willing to invest in the state,” the governor said. Chairman of Madugu Group of Companies, Musa Garba, said the hotel was just a beginning.

Bauchi airport. “Today, Bauchi does not owe any bank except N14 billion for gratuities, while contractors are owed about N1.4 billion. “Others include the World Bank’s $50 million educational intervention loan, and it was got on merit. It is a 25year facility. “Only Anambra, Ekiti and Bauchi qualified for the facility from Nigeria. There is also a $70 million water intervention fund by the World Bank with a 30-year tenor that the state has not drawn. “There was N8 billion overdraft we inherited from the previous administration to be repaid over eight years. We reviewed it and liquidated a good percentage of that loan.’’ Yuguda said the information of the state’s debt status was contained in the handover notes duly signed by Abubakar. He said a statement credited to Abubakar at an event recently describing the state as being in immeasurable financial recklessness that culminated in massive indebtedness, therefore raised a concern. He urged the new administration to concentrate on equipping the 17 new hospitals, rehabilitating of schools, specialist hospital, university and other projects that he (Yuguda) inaugurated.

News

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

ASUU tasks African leaders on Western Sahara K emi O laitan IBADAN

cademic Staff Union of Universities, ASUU, has called on Nigeria and other African countries to impose economic sanctions on Morocco to end colonisation of Western Sahara. The union also tasked African countries to use their bilateral relations and act individually and collectively to exert all forms of pressure on Morocco to end its illegal occupation of Western Sahara Republic. Similarly, ASUU also urged Nigeria and other countries to muster the

courage to break diplomatic ties with Morocco, stating that the Arab nation has distanced itself from the African Union, AU, by withdrawing its membership. While enjoining Nigeria to ban the importation of any goods from Morocco and companies exploiting resources of the Saharawi people, the union called for the establishment of NigeriaSADR Bi-national Commission to reinforce cooperation between the two countries. It would be recalled that Morocco forcefully occupied 80 per cent of Western Sahara Republic about 40

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PUBLIC NOTICE CARE MUTUAL HEALTH ASSOCIATION

This is to inform the general public that the above named body has applied to the Corporate Affairs Commission for registration under the part C of the Company and Allied Matters Act 1990.

THE TRUSTEES ARE:

1. 3. 5. 7.

Adesanya Adewale James Onoabhagbe Isaac Idiake Molemodile Omolade Abiodun Olayemi Olatunde

2. 4. 6. 8.

Legunsen Comfort Adebola Olawore Arinola Grace Francis Chijioke Akinlabi Idowu Fatai

AIMS AND OBJECTIVES ARE:

1. To provide health insurance services to its members 2. To increase access to health care by reducing out-of-pocket payment by households 3. To partner with other individuals/organizations with similar objectives both nationally and internationally. 4. To engage in health preventive and promotive activities for the benefit of the Kosofe LGA community

Any objection to the registration should be forwarded to the Registrar General, Corporate Affairs Commission, Plot 420, Trigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication

SIGNED: BARRISTER EDNA AIGBEDION (OLUYOMI OLAWORE & CO.)

Fashina

years ago, exploiting the phosphate-rich territory with off-shore oil deposits, while the people have been denied independence after Spain, which colonised

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it, hands off in 1975. A communiqué signed by Dr, Dipo Fashina at the end of a threeday international conference with the theme: “Towards the Liberation of Africa’s Last Colony” organised by ASUU, and made available to journalists in Ibadan at the weekend, condemned strongly the Moroccan occupation of Western Sahara, describing it as a crime against humanity in the 21st century. The communiqué also urged the United Nations to hold without further delay, the referendum for self-determination of the people

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of Western Sahara in accordance with the relevant UN and OAU resolutions further reaffirmed by the African Union. The union also condemned the role played by France at the Security Council in supporting Morocco’s expansionism in Western Sahara and in opposing all initiatives aimed at resolving the conflict on the basis of international legality in violation of article 24 of the UN Charter. “The Saharawi Arab Democratic Republic, SADR, is the last colony in Africa forcibly being controlled, raped and ex-

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ploited by Morocco, another African country. Morocco has refused to allow the independence of the Western Sahara people since 1975 when it took it over shortly after Spain left the territory. In doing this, Morocco has refused to honour declarations of international organisations such as the United Nations and African Union to the effect of conducting a referendum and determining the fate of the people.

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Formerly known and addressed as Enimien Osedebame Theodora Okoruwa, now wish to be known and addressed as Osedebame Theodora Wariya. All former documents remain valid. General public should please take note.

CHANGE OF NAME

AGU: I, formerly known and addressed as Miss. Violet Tochukwu Agu, now wish to be known and addressed as Mrs. Ngwu Violet Tochukwu. All former documents remain valid. General public should please take note.

CHANGE OF NAME

EZENWEKE : Formerly known and addressed as Ezenweke Keziah Eziamaka now wish to be known and addressed as Ezekwueme Keziah Eziamaka. All former documents remains valid. F.C.E (T) Umunze and public note.

CHANGE OF NAME

Formerly known and addressed as Shittu-Alamu Temitope Atinuke, now wish to be known and addressed as Owolabi Temitope Atinuke. All former documents remain valid. General public should please take note.

CHANGE OF NAME

I formerly known and addressed as Miss Dosumu Bilikisu Opeyemi henceforth wish to be addressed as Mrs Mudashiru Bilikisu Dosumu Opeyemi. All former documents remain valid. General public should please take note.

CHANGE OF NAME

Formerly known and addressed as Miss Adeyemo Adepeju Titilope, now wish to be known and addressed as Mrs Oyedeji Adepeju Titilope. All former document remain valid. General public take note.

CHANGE OF NAME

OKORO: Formerly known and addressed as Nonye Gift Okoro now wish to be known and address as Nonye Rock Ude. All former document remains valid. Abia State Polytechnic and General public take note.

CHANGE OF NAME

Formerly known addressed as Miss Agbalu Ukamaka Emmanuella, now wish to be known and addressed as Mrs. Agbalu Ukamaka Emmanuella. All former documents remain valid. General public please take note.

National Mirror www.nationalmirroronline.net

Monday, June 8, 2015

It’s very brutal to leave Camp Nou like this. But I am certain I have taken the best decision for my future

Sport

Wawrinka edges Djokovic, wins French Open

–OUTGOING BARCELONA MIDFIELDER, XAVI

ROUND OF 16 MATCHES WEDNESDAY Ghana

vs Mali

Serbia

vs Hungary

USA

vs Colombia

Ukraine

vs Senegal THURSDAY

Taiwo Awoniyi (18) celebrating his second goal for Nigeria, yesterday

Austria

vs Uzbekistan

Germany

vs Nigeria

Portugal

vs N’Zealand

Honduras

Germany

Fiji

Uzbekistan

Brazil

vs Uruguay

Hungary

Nigeria

Brazil

North Korea

Results

AFCON qualifier: Keshi sweats over non-availability W/Cup: F’Eagles set up Germany clash

...Tickets go on sale Thursday Joel Ajayi ABUJA

ust four days to the first 2017 Africa Cup of Nations (AFCON) qualifying match between Nigeria and Chad, Super Eagles Coach, Stephen Keshi, has expressed worry over the non-availability of match videos of his opponents. Keshi, who stated this during a media briefing in Abuja at the weekend, disclosed that he was still waiting for the clips to know Chad’s current style of play, even as he asked the Nigeria Football Federation (NFF) to provide the tapes on or before tomorrow ahead of their Saturday encounter in Kaduna. According to Keshi who said that he can only remember how the Chadians used to play in the past, the Super Eagles will have no reason to underrate their Chadian opponents.

“We don’t have any reason to underrate Chad. We are preparing very seriously just like we could do if we are to confront Brazil, France or any other country in the world. Football is not what it used to be in the past when some team or country is seen as underdog,” Keshi said. “I have been hearing the comments some people are making that we can use 3SC, Enyimba players to play Chad. That’s not true. I played against Chad when I was with Mali and they are strong. Most of their players are foreign-based.” Meanwhile, tickets for the match will go on sale in selected outlets in Kaduna on Thursday, the NFF confirmed yesterday. The NFF announced that tickets into the VIP stand at the Ahmadu Bello Stadium will cost N2,000, with the grandstand to go for N500 and the popular area to be sold for N300 only.

...humble Hungary 2-0

Keshi

igeria will clash with Germany in Christchurch on Thursday in a Round of 16 sought after match in the ongoing FIFA U-20 World Cup, after the Flying Eagles yesterday defeated Hungary 2-0 to finish second in Group E. Thursday’s match will be a clash of the African champions against the champions of Europe.

The Flying Eagles recorded six points from three matches to finish second behind Brazil, who won the group after they beat North Korea to tally the maximum nine. Taiwo Awoniyi gave Nigeria the lead in the 33rd minute, when he finished off a low drive by Godwin Saviour from the right flank. Awoniyi doubled the advantage after 54 minutes, when he cashed in on a defensive mix-up to round the Hungary goalkeeper, Gyorgy Szekely, for his second goal of the tournament. Hungary took the early attacking initiative, but it was Nigeria that really threatened after Godwin Saviour’s shot narrowly missed target after 12 minutes.

Sports

Monday, June 8, 2015

National Mirror www.nationalmirroronline.net

Falcons set to test might against Sweden Falcons’ striker Desire Oparanozie

Mercy Jacob

Canada 2015: Glo rallies Falcons’ support

ational telecoms operator, Globacom, has called on the Super Falcons to pick the three points at stake by defeating Sweden in the opening Group D match of the 2015 FIFA Women World Cup in Canada today. “While we understand that the task of defeating Sweden and picking the three points at stake may not be easy, we believe this is still possible given the quality of players in the current squad of Super Falcons,” Globacom said in a statement in Lagos yesterday. Much is expected from the Falcons as they aim to qualify from a very tough group and move to the knock out stage. The other teams in the group are USA,

winner of the Women World Cup in1991 and 1999, Sweden, runners up in 2013 and bronze winner in 1991 and 2011 as well as Australia, quarter finalists in 2007 and 2011. “Although the Super Falcons are in a group perceived to be very tough, we believe we have the calibre of players that can help the team to top the group. They should ensure that they not only qualify from Group D, but also surpass the quarter final record set by the Super Falcons team that represented Africa at the 1999 Women World Cup in USA,” the statement added. Globacom advised Falcons to re-enact the fighting spirit and determination the

team is known for, adding that “the team has the character and pedigree to achieve the ultimate goal of lifting the trophy.” The telecoms company expressed delight at the preparation made by the Falcons ahead of the World Cup. “The unity in the camp as well as the goodwill of fans at home and abroad will stand the team in good stead to go all the way,” the statement further said. It urged the Nigeria Football Federation to continuously support the team and its crew in their quest to make Nigeria and Africa proud,” the statement concluded. Globacom is the major partner of the Nigeria Football Federation and official sponsor of Nigeria’s national football teams.

igeria’s Super Falcons will today begin their World Cup title chase against Sweden in Winnipeg at the ongoing FIFA Women’s World Cup in Canada. The match will kick-off at 9.00pm Nigerian time. The reigning African champions who are adjudged to be the 32nd-best football playing team in the world and the lowestranked nation in Group D, will fight for survival in that group with Sweden who are ranked fifth in the World. Falcons coach, Edwin Okon, has however, declared that he is going to feature his best legs against the Scandinavian opponents, insisting that his ladies will deliver. “We have done everything right to put the players in a perfect frame of mind for our group’s opening match against Sweden on Monday. “We have trained hard, perfected our acts and the players have been well psyched up 100% and right now we are fervently hoping that everything will turn out well to give us victory,” Okon said. He added, “The first match is quite important as a good result in the encounter will go a long way to boost our confidence going into the next group matches against Australia and USA.” The less-fancied Super Falcons seem strongly determined and more focused as a team seeking to upset the world, combining their experience both at youth and senior levels.

D’Tigress

D’Tigress wins AAG/Afrobasket ticket Paul Erewuba

igeria’s national senior female team, D’Tigress, over the weekend qualified for the All African Games (AAG) and the 2015 Afrobasket after defeating their Cote d’Ivoire 88-43 in the 2nd round match at the Palais du Sport in Abidjan.

D’Tigress were powered to victory by Uju Ugoka’s 14 points, with captain Helen Ogunjimi and Primeiro Agosto point guard, Sarah Ogoke’s 13 points throw each in a display that saw D’Tigress claw past their opponents. D’Tigress ended any hope of a comeback by the female Elephants in the 3rd quarter by outscoring them 26-9 to pull up an unassailable 71-36 points lead going

into the 4th quarter, closing the deal with a 17-6 points scoreline in the final 10 minutes. Nigeria will now have a date with Angola, Senegal, Algeria, the qualifier from FIBA Africa Zone 2 and yet to be named wild card entry in group B of the 2015 Afrobasket in Yaounde, Cameroun in September to fight for a 3rd African title and a ticket to the 2016 Rio Olympic Games.

Garba

National Mirror www.nationalmirroronline.net

Sports

Monday, June 8, 2015

Wawrinka edges Djokovic, wins French Open S wiss Stan Wawrinka yesterday defied the odds to win his first French Open title after he recorded a famous 4-6 6-4 6-3 6-4 victory over world number one Novak Djokovic in the final in Paris. Djokovic was the overwhelming favourite to record his 29th consecutive win and complete a career Grand Slam at Roland Garros, but Wawrinka produced a scintillating display to defeat the Serb in four gruelling sets. The victory is only Wawrinka’s second in 18 meetings against Djokovic and means the world No 9 now has a second grand slam title to add to his success at the Australian Open in 2014. Djokovic had beaten nine-time champion Rafael Nadal and Britain’s Andy Murray en route to the final, but Wawrinka, who won the boys’ singles title at Roland Garros in 2003, cemented his place among the elite with an outstanding performance. The tone was set in the opening game as Djokovic earned a break

Stan Wawrinka posing with the French Open trophy

point but Wawrinka edged an enthralling 39-shot rally, the longest of the tournament so far, to survive and hold.

Djokovic was rattled and Wawrinka compounded his opponent’s misery with another thundering backhand before serving out to

put his opponent behind in sets for the first time in the tournament. The momentum seemed firmly

with the Swiss and while a sloppy service game handed Djokovic a lifeline at the start of the fourth, he broke back to level at 3-3.

Table tennis: Nigerian juniors compete in Egypt

igeria will join 13 others countries including host Egypt in competing at the International Table Tennis Federation (ITTF) World Junior Circuit (WJC) tagged Egypt Junior and Cadet Open beginning

from today. The tournament will serve off with the team event in the junior and cadet divisions and Nigeria has been listed among the top seeded teams. Junior, cadet and mini cadet

will have 14 events contested for by 138 players from Nigeria, Algeria, Botswana, India, Iraq, Jordan, Saudi Arabia, Kuwait, Qatar, Romania, Slovakia, Togo, Tunisia and Egypt. Meanwhile, organisers have

ritish marathoner, Mo Farah, has withdrawn from his intended appearance at the Diamond League meeting in Birmingham because of stress. Farah was due to race in front of his home fans over 1, 500 metres, but he has decided not to take part at the end of a week when his coach Alberto

Salazar has made front page headlines. “This week has been very stressful and taken a lot out of me,” Farah said in a statement yesterday. “I have not been able to focus properly on today’s race and after the events of the last few days feel emotionally and physically drained.

“I want to run well in the IAAF World Athletics Championships in Beijing and have decided it is better for me to go back to the US, seek answers to my questions and get back into training. “I apologise to the people who bought tickets to come and watch me race and ask for your understanding at this time.”

Stress knocks down Farah B

said that competitors will be treated to an exciting tournament. “The unique thing is that all African and Arab competitors of Egypt are coming this year,” President of Egypt Table Tennis Federation (ETTF), Alaa Meshref, said yesterday. “It will be an Afro-Arab festival for the youngsters in table tennis. “This will provide these countries with a clear vision of where each one stands relative to their rivals. We will provide touristic half day and full day excursions through Sheraton Dreamland with GER special

prices to any number of persons on any day.”

Athletics: Anambra set for Golden League

Farah

Nesiama

nambra State will host the first leg of the Athletics Federation of Nigeria Golden League at Rojenny Stadium, Oba on Thursday. The League is a competition for home based athletes to keep them in top shape before the AFN/CRS All Nigeria Athletics Championships which serves as trials for the Beijing 2015 IAAF World Championships and Congo 2015 All Africa Games. The nation’s best athletes are expected to be at Rojenny to compete for various cash prizes at the one-day meet. Meanwhile, AFN Technical Director, Omatseye Nesiama, has appealed to all states/clubs interested in participating in

AFN organized activities in 2015 to register with the AFN Secretariat immediately. They are to pay the affiliation fees before the commencement of the League or any of the AFN organized competition for the year 2015. Athletes would also be required to obtain identity cards, which would be their license for competing in the season. “In line with the IAAF antidoping code, all athletes in the AFN top-20 list shall henceforth complete and submit their athletes’ whereabouts information to the AFN Secretariat every quarter, failing which the IAAF prescribed sanctions shall be applied,” Nesiama said.

WORLD RECORD Shortest useable pogo stickcarry Fastest mile fireman’s

N150

Vol. 05 No. 1129 Monday, June 8, 2015

The shor test usable pogo stick measures 46.15 cm (18.16 in) in h e i g h t a n d w a s c r e a t e d b y U d a r Ro b i n s o n ( C a n a d a ) a n d H o m a g n i B a p t i s t a ( Au s t r a l i a ) .

NUPENG’s patriotic position on fuel subsidy H ave you heard? The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has thrown its weight behind the removal of subsidy on petroleum products, saying such funds should be channelled to the rehabilitation of refineries and infrastructural development in the country. The union’s president, Comrade Igwe Achese, said the action was the only way to end the perennial fuel crisis in the country. Interestingly, the Nigeria Labour Congress last May 1 during the Workers’ Day celebration warned against any move by the Federal Government to remove fuel subsidy, saying such action was capable of plunging the country into “unnecessary crisis.” Given that NUPENG is a strategic members of the NLC, its rejection of fuel subsidy should be seen as an ideological suicide on the issue. Ideologically, labour has always been pro subsidy, since such economic intervention

HeartBeat Callistus Oke

Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY) anthonykila@mail.com by government creates humane conditions that make life interesting for the workers, the creators of the wealth of a nation. The NUPENG’s position is a repudiation of that traditional position. I have asked some radical leftist friends what they made of NUPENG’s stance. The consensus is that such repudiation is an ideological somersault. Personally, I see the stance of NUPENG as arising from a proper articulation of the political economy of oil subsidy in Nigeria borne by prevailing socio-economic and political reality. I have been a disciple of pro subsidy. The reason is more ideological than economic. I have always found it socially non-permissible and indeed indefensible that a section of the society should be denied access to certain public goods like education and healthcare. Education because it liberates the mind from ignorance and superstition; and also because it is the most effective weapon against social inequality. And healthcare because lack of it shortens life and impedes productivity of the mind and body. I added petroleum products to my list because I have always found it offensive that a product so freely given to the country by Nature should be priced out of the reach of all Nigerians. The socialization of access to petroleum products in caring and concerned countries like Venezuela under Hugo Chavez, Libya under Muammer Gaddafi and Saudi Arabia under her successive kings, is a model worthy of emulation. I must admit that the implementation of subsidy regime in Nigeria is rudimen-

THE IMPLEMENTATION OF SUBSIDY REGIME IN NIGERIA IS

RUDIMENTARY, FRAUDULENT AND SELF SERVING tary, fraudulent and self serving. In the public sector education, the Nigerian state has been overburdened by the weight of subsidy implementation. There is one form of subsidy or another in public sector education, the greatest burden being in the tertiary subsector. For confirmation, compare the bills payable in private schools, (primary, secondary and university) to those of public schools. The attempt to sustain government’s fidelity to the equalization of access to education even why economically disadvantageous is why the palpable decline in the quality of education in the country has set in. Subsidy in the public health sector is generally kept low. You get a feel of its existence when you compare the bills payable in public health institutions to private ones. Such comparison will have to be extended to services on offer in the two sectors to make meaning! Since 2008 a community-based Social Health Insurance Programme of the National Health Insurance Scheme (NHIS) for all registered pregnant women and children under five years of age has been on;

some states in the country equally subsidize treatment for some select classes of people, particularly children and the aged. However, the big subsidy issue in Nigeria and the most contentious is the fuel subsidy. Its awesome size, philosophical underpinning and management template have combined to create an eerie atmosphere of esotericism around it. The first puzzle in the fuel subsidy bogey in Nigeria is the determination of its weight. If it is taken that subsidy is an amount of money given directly to firms by the government to encourage production and consumption of goods and services, the first task is to determine the economic cost of such a product and what percentage the government will pay to the producer to enable him/ her sell to the final consumers at cheaper and affordable prices. In Nigeria’s voodoo economics of subsidy, the weight of subsidy is politically determined, which is why we are still looking for the realistic economic cost of a litre of PMS. In the absence of this, the mandarins in the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Pricing Regulatory Agency (PPPRA) and Federal Ministry of Finance, have been having a field day, more often than not working for the oil marketers to rip off the nation. Between 2006, when the Petroleum Support Fund (PSF) Scheme kicked off and the end of 2014, Nigeria spent about N11 trillion on subsidy payments. In this year’s budget prepared by the former administration of Dr. Goodluck Jonathan, N460 billion was appropriated as subsidy for Premium Motor Spirit (PMS) and N160 billion as subsidy for kerosene. This adds up to about N11.6 trillion as subsidy since 2006. The social opportunity cost of this is enormous. Yet, another form of oil subsidy exists: It arises from the enthronement of a regime of uniform prices of petroleum products across the length and breadth of Nigeria since 1973. This compounds the mystifying subsidy bogey in the country. To be continued.

Sport Extra

Transfer: Van Persie closes in on Juventus move

pparently fed up with his bit-part role in the ended season, Manchester United striker, Robin van Persie, says he is on the verge of a move to Italian Serie A side

Juventus. Recent speculations have suggested that Van Persie was on the wish list of Turkish club Galatasaray. But the Dutch forward said yesterday that he had

linked up with Juventus defender and old Manchester United mate, Patrice Evra, who was in the Juventus starting line-up when the Old Lady lost the Champions League final against

Barcelona on Saturday. “Patrice has told me stories about how Juventus train, how hard they work and how they manage to be successful,” Van Persie, 31, said.

“They have a fantastic spirit–a totally different approach from English or Dutch players before games. They grab each other by the head, they shout at each other to pump each other up.

Persie

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