Monday, may 4, 2015 by GLOBAL MEDIA MIRROR LIMITED

Fuel scarcity: FG faults marketers' N200bn claim UDEME AKPAN

ederal Government yesterday faulted the N200bn claim by oil

Alison-Madueke

Vol. 5 N0. 1104

marketers as outstanding payment on subsidy. Okonjo-Iweala faulted the claim in Abuja while briefing newsmen. “As you know, we paid N156bn recently to the

marketers; N100bn being the principle payment we owed them and N56bn being interest rate and some remaining exchange rate differentials.

CONTINUED ON PAGE 2>>

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PDP: Northern govs reject plot to sack NWC, Mu'azu OBIORA IFOH AND ENO-OBONG MICHAEL

Why I won't resign —National Secretary

orthern governors of the Peoples Democratic Party, PDP, rejected plot to sack the Ahmadu Mu’azu-led National Working Committee, NWC, less than a week after it endorsed the proposal. National Mirror gathered yesterday that three of the governors leading the ‘NWC must go’ project reportedly called Mu’azu and some members of the NWC to apologise for their action and pledge their allegiance to him and other members. It was also learnt that the plot by the governors and CONTINUED ON PAGE 2>>

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LEFT: Supplier of food, fuel to terrorists captured by troops yesterday. TOP RIGHT: Troops in action during one of the attacks in Sambisa forest. BELOW RIGHT: Terrorists camp in Sambisa forest destroyed by troops.

Freed women narrate ordeal in Boko Haram camp Troops nab terrorists' fuel, food supplier Soldiers kill over 400 Plateau villagers –Monarch

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Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

PDP: Northern govs reject plot to sack NWC, Mu'azu CONTINUED FROM PAGE 1

close associates of President Goodluck Jonathan to sack the NWC and hijack the leadership of the party by dropping the name of the President may have slowed down but pressure is still on to sack Mu’azu before May 29. Sources available to our reporter have it that the governors and the President’s associates have already shared the proposed new caretaker committee slots among themselves. A source who is a high ranking party official said: “Can you imagine, one of the outgoing governors in the South-South was penciled down as the acting national chairman, while another outgoing governor in the same zone was also penciled down as the acting national organising secretary. “Another governor in the South West who is also a die-hard supporter of the re-election of the President was also given a slot to look for a candidate in the proposed caretaker committee while another governor from the South South who is also in support of the sack of NWC also got a slot. “To me, they are just pursuing selfish agenda because they shared the positions to themselves and their cronies without considering other interest groups like the Board of Trustee, BOT, National Caucus, members of the National Assembly, the incoming governors and the founding fathers of the party. “It is the same way they hijacked the party’s primaries for the selection of candidates for the last general elections and all their candidates lost out at the polls and they are now blaming the NWC. “They sold the same dummy to some of the leaders of the party that they were sent by President Goodluck Jonathan, whereas they were pursuing their own hidden agenda. “They wanted the President to sack the entire NWC, forgetting that the members of the NWC came into office through election and their tenure would expire next year March, the President did not send them to sack any organ of the party illegally.” Niger State governor, Dr. Babangida Aliyu, is

the leader of the northern governors and under his leadership, PDP lost all the 19 states in the zone, save Gombe and Taraba, a development the PDP governors in the South are suspecting as northern agenda to kick President Jonathan out. It was however gathered that two of the governors, one from the South West

and another one from the South South were said to have vowed to continue with the plot underground using their states and zonal chapters of the party to seek for the removal of Mu’azu, a northerner and the NWC members before the May 29 handing over date. President Jonathan appears to be helpless over the

development as some of the leaders of the party have reportedly warned him against the sack of the NWC and allowing the governors to have their way. The NWC had on Saturday raised an alarm over alleged plans by some aides and associates of President Jonathan to sack it, saying it would resist any attempt to

get it out of office before the March 2016 expiration date of its tenure. National secretary of the party, Prof. Adewale Oladipo, has vowed to resist any pressure on him and national auditor, Alhaji Adewole Adeyanju, to resign from office even as he cautioned one of the leaders of the party in the South West,

Bode George, against divisive politics Prof. Oladipo was reacting to a communiqué issued by some PDP leaders in the South West which states that their resignation was to pave way for the dissolution of the NWC as a fallout of the 2015 general elections. He said that the call for CONTINUED ON PAGE 5>>

LEFT: Commercial load carriers at Apongbon, Lagos, ditching the normal household items and beverages for jerry cans of petrol as fuel scarcity persists at the weekend. RIGHT: People waiting to buy petrol yesterday. PHOTOS: ADEMOLA AKINLABI AND YINKA ADEPARUSI

Fuel scarcity: FG faults marketers' N200bn claim CONTINUED FROM PAGE 1

“Prior to that, we paid them N31bn as exchange rate differentials. At the time we paid that amount last week, what we had outstanding was N98bn,” she said. The minister added that government relies on the weekly data released by Petroleum Products Pricing Regulatory Agency, PPPRA, to certify what was due to the marketers. “Since we made the announcement last week, the outstanding payment has now risen from N98bn to N131bn. “And they (marketers) are now making a demand of N200bn and I asked them what is the balance for?” The minister said the marketers were making demands for huge sums in exchange and interest rate differentials. She added that the government had made it known to them that what they were requesting was huge especially the exchange rate differentials. She said that PPPRA

needed to look at the figures to ascertain if the way they were calculated was in line with the exchange rate policy of the Central Bank. Okonjo-Iweala said the outgoing administration would not want to leave unverified claims or burden for the incoming government to pay. “So, this (marketers claims) must be thoroughly looked into and certified. “We recognise that the marketers are business people and should be paid; but the rate at which they have continued to hold Nigerians to ransom is discouraging. “It is unfortunate that this is happening now when the government has prioritised their payment,” she said. She recalled that in 2011 when huge sums were owed the marketers, Nigerians were not held to ransom and no fuel station was closed. She said that the government had appealed to the marketers as Nigerians to make little sacrifice, adding that they should not allow Nigerians to suffer.

Okonjo –Iweala explained that the template used for calculating the marketers’ claims was designed to cover the entire cost of their business including the profit margin. According to her, the template approved by PPPRA, indicated that the marketers face few risk in their business as government bore the entire burden. “It is actually that template that we have been quarreling with. “The template said the marketers must be paid interest rate differentials, profit margin guaranteed, plus the principle amount they spent on the business. “Based on this, the government is bearing the full risk of their business even now that we have revenue shortfall,” she said. Okonjo-Iweala expressed concern that the situation had degenerated to the level where the marketers had formed cartels that could ground the nation at will. “I strongly suggest that the nation has to do something about it; Nigerians

have to do something. “We have been labouring under this for a long time and it’s been stressful for everybody,’’ she added The minister said that in 2011 when the system was restructured payment had been regular and what the government paid the marketers reduced from N2.3 trillion to N971bn. Meanwhile, the Federal Government and oil marketers are billed to meet in Abuja today. The meeting to be presided over by Okonjo-Iweala, is targeted at deciding how the N200bn fuel subsidy would be paid to the marketers. Executive secretary of Major Oil Marketers Association of Nigeria, MOMAN, Mr. Femi Olawore, who confirmed the development over the weekend said his group has agreed to attend the crucial engagement. He said that owed a total of N350bn has already paid N154bn, thus having an outstanding of N200bn. “The government did not state how and when the balance would be paid to us and

other fuel importers. It is necessary that the Federal Government let us know its plans in resolving the issue,” he added. Olawore explained that MOMAN would make efforts to pay a proportion of the N20bn debt to the National Association of Road Transport Owners, NARTO, whose members are involved in moving fuel from one part of the nation to another. "Furthermore, we are also prepared to pay the proportion of our debt to NARTO same proportion the government paid to us because we cannot liquidate the N20bn we owe them,” he said. He added: "NARTO has stated it will resume strike if we do not settle our outstanding with them within weeks.” Olawore appealed to the Federal Government to redeem the pledge to settle all outstanding because "the load is too much for us to carry." He said the marketers are ready to cooperate but they will go back on strike if nothing is done within two weeks.

National Mirror www.nationalmirroronline.net

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Monday, May 4, 2015

Good Health Scientists invent artificial pancreas … Now pregnant women with diabetes can deliver normally FRANKA OSAKWE

omen who have diabetes, particularly Type1 diabetes, face grave danger in pregnancy such as pre-term delivery, having babies with birth defects, over-sized babies and stillbirth, thus making it nearly impossible for them to give birth naturally. But now, scientists have invented an artificial pancreas which can enable them give birth naturally, without complications. The device which is worn outside the body helps to control blood glucose level by constantly monitoring glucose levels and automatically injecting insulin whenever it drops too low. The technology invented by scientists at the Metabolic Research Laboratories, University of Cambridge, has enabled Catriona Finlayson-Wilkins, 41, of England, to give birth naturally after using an artificial pancreas throughout her pregnancy. FinlaysonWilkins has type 1 diabetes which means she is unable to control her blood sugar levels because her pancreas has stopped producing insulin. With the aid of the artificial insulin, Finlayson-Wilkins was able to give birth naturally without any complication.

Experts hope that the research from her pregnancy will help save the lives of more pregnant diabetic women and improve the health of their babies. Finlayson-Wilkins is the fourth diabetic woman to carry out a successful pregnancy and childbirth after using an artificial pancreas, but she is the first to not only wear the device outside of the Cambridge University testing site but also deliver vaginally, the report says. Dr. Helen Murphy, principal investigator of the study Finlayson-Wilkins took part in, explained that diabetes during pregnancy is not only a risk to the baby’s health but can also put the mother in danger. “During pregnancy some women lose the normal warning signs of sharp drops in blood sugar, and this puts the baby at risk for potentially fatal hypoglycemic attacks. In addition, natural childbirth is especially difficult for diabetic women. “It’s estimated that between 45 to 70 percent of all diabetic pregnancies result in cesarean birth, compared to only 21 percent in the general population. This is because of their tendency to have impaired uterine contractility during labor. “Treating diabetes in pregnancy can be particularly challenging because hormone levels are constantly changing and blood sugars can be difficult to predict,” Murphy said. She hopes that the results of FinlaysonWilkins’s pregnancy can go on to help other diabetic women have both healthy pregnancies and healthy babies. Meanwhile a similar innovation known as Continuous Glucose Monitoring (CGM) has been invented by scientists from the University of Leeds, school of Medicine. The CGM will help pregnant women with diabetes achieve better glucose control and give birth to healthier baby, the researchers said.

“Usually, pregnant women with diabetes monitor their glucose during the day using the traditional ‘finger-prick’ test, which can be painful and inconvenient. However, only snapshots of what is happening to the glucose are picked up, as it is only done between four and eight times a day, and not at all during the night when asleep. “Even when these blood glucose readings reach the targets required, pregnant women with diabetes still give birth to large babies. This suggests that the traditional fingerprick test may not be good enough to detect all the changes in glucose that contribute to the baby’s growth, and that using newer technology such as continuous glucose monitoring (CGM) may be able to help with this problem”, explained Dr Eleanor Scott, Consultant in Diabetes and Endocrinology, who led the research. The research team has worked out a way to interpret the complex data provided by CGM devices, so they get a much clearer picture of the glucose control across the 24-hour day that is associated with having a large baby. The devices usually consist of a tiny probe that sits just under the skin and a small data monitor that sits on the skin (about the size of a 50p piece), measuring glucose levels all day, every day, revealing in detail glucose changes that may otherwise be missed with finger-prick testing alone. “Women can use this data to make sure

DID YOU KNOW?

Fasting may reduce breast cancer risk in women

decrease in the amount of time spent eating and an increase in fasting reduces glucose levels and may reduce the risk of breast cancer among women, report University of California, San Diego School of Medicine researchers in the journal Cancer Epidemiology, Biomarkers & Prevention. The findings were presented at the American Association of Cancer Research’s annual meeting in Philadelphia. “Increasing the duration of fasting could be a novel strategy to reduce the risk of developing breast cancer. This is a simple dietary change that we believe most women can understand and adopt. It may have a big impact

on public health without requiring complicated counting of calories or nutrients.” said Catherine Marinac, UC San Diego doctoral candidate and first author on the paper. Women in the study, who reported longer fast durations also indicated they consumed fewer calories per day, ate fewer calories after 10 p.m. and had fewer eating episodes.

that the times of day when glucose seems to run higher are periods where they are particularly careful to keep their glucose as close to normal as possible. They can do this by consulting with their ‘diabetes in pregnancy’ clinical teams who will be able to advise on timing of insulin, timing and types of food to help smooth the gluc o s e profiles a n d avo i d these probl e m areas,” Dr. Scott added. The researchers said the next stage of the research would be to find out how the CGM may help further the artificial pancreas technology, the closed loop insulin systems which are being developed to transform the care of people with type 1 diabetes who are reliant on insulin. Dr Anna Secher, of the Center for Pregnant Women with Diabetes in the Department of Endocrinology at the University of Copenhagen, a collaborator on the study with the University of Cambridge, said this study is the first to investigate glucose levels 24 hours, in relation to large babies.

Sun exposure lowers blood pressure

xposing skin to sunlight may help to reduce blood pressure and thus cut the risk of heart attack and stroke, a study published in the Journal of Investigative Dermatology suggests. Research carried out at the Universities of Southampton and Edinburgh shows that sunlight alters levels of the small messenger molecule, nitric oxide (NO) in

the skin and blood, reducing blood pressure. Martin Feelisch, Professor of Experimental Medicine and Integrative Biology at the University of Southampton, comments: “NO along with its breakdown products, known to be abundant in skin, is involved in the regulation of blood pressure. When exposed to sunlight, small amounts of NO are transferred from the skin to the circulation, lowering blood vessel tone; as blood pressure drops, so does the risk of heart attack and stroke.”

Photo News

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

L-R: General Manager, Consumer Marketing, MTN, Richard Iweanoge; Operations Lead, OLX, Funmi Ogutuga; Managing Director, Jumia Nigeria, Dr. Jonathan Doerr; Chief Marketing Officer, MTN, Olubayo Adekanmbi and CEO, Kaymu Africa, Massimiliano Spolazzi, during the launch of MTN APPtitude campaign in Lagos, at the weekend.

L-R: Managing Director, Complete Sports, Mr. Mumin Alao; Country Manager, Accenture, Mr. Niyi Yusuf; Lagos State Governor Babatunde Fashola and Chief Executive Officer/Principal Partner, Adetokunbo Obayan & Associates, Mr. Adetokunbo Obayan, during the 7th edition of the Annual Leadership Seminar of Ansar-Ud-Deen Youth Association of Nigeria, Lagos branch, in Lagos at the weekend.

L-R: Deputy Head of Mission, Finland Embassy, Mrs. Emmi Mwanzagi; Group Managing Director/Chief Executive Officer, Skye Bank Plc, Mr. Timothy Oguntayo; Finland Ambassador to Nigeria, Mrs. Pirjo Soumela-Chowdhury and Deputy Managing Director, Skye Bank, Mrs. Amaka Onwughalu, during Finland ambassador's visit to Skye Bank, recently.

L-R: Group Managing Director, WAPIC Insurance Plc, Ashish Desai; Chairman, Board of Directors, Aigboje Aig-Imoukhuede and Executive Director, Bode Ojeniyi, during the company’s 56th annual general meeting in Lagos, at the weekend.

National News TORDUE SALEM, WOLE OLADIMEJI AND BOLADALE BAMIGBOLA

s the 6th June inauguration date for members of the National Assembly draws nearer, the race for who takes over from Aminu Tambuwal as Speaker of the House of Representatives is gathering momentum, with three major contenders campaigning vigorously for the seat. So far, three lawmakers from different geopolitical zones have declared interest in the plum job. They are Femi Gbajabiamila (South West), Jubril Abdulmumini (North West) and Yakubu Dogara (North East). National Mirror gathered that although there are others, especially from the South West, who are equally eyeing the position, they are afraid of their party leaders, especial Senator Bola Tinubu, who was said to be

Race for Reps speakership gets tough ... Tambuwal lobbies for Dogara

supporting the candidature of Gbajabiamila. It was reliably gathered that some of the candidates from South West would rather not campaign openly in order not to incur the wrath of the party leader, but nevertheless, have vowed to contest for the seat. Our correspondent gathered that already, Tambuwal has been lobbying APC hierarchy to endorse Dogara as his successor. Tambuwal, who would be sworn in as governor of Sokoto State on May 29, is said to be reaching out to leaders of APC and his colleagues on behalf of Dogara by proxy. A source told our reporter that Tambuwal “is not only reaching out to members himself for Dogara, he is also doing

it by proxy.” Dogara’s aspiration to be Speaker also got a boost last week, with opposition parties joining members of APC to declare their support for him. More than 90 members of the Peoples Democratic Party, PDP, have already pledged to work for his emergence as Speaker. At a press briefing he held in Abuja yesterday, Hon. Dogara said he joined the race because of his vast political and legislative experience. He argued that the House, since the sixth Assembly, has not voted on party or regional basis, but based on the requisite qualifications and goodwill enjoyed by a candidate for the office. Speakers Dimeji Bankole and Tambuwal

emerged in the 6th and 7th Assemblies, against the calculations of their party. Dogara hopes the same situation may happen to his advantage in June. “My declaration does not mean the zoning arrangement in the APC has failed, but I am in this race because I am experienced and qualified for the Office of the Speaker of the House of Representatives. “I am also running based on justice, because I represent a zone (North-east), which everyone knows is the poorest and we are confident also that my colleagues from different zones of the country are with me in this aspiration. “And I also know there can’t be change if we do not emphasize the issue of justice. We have

looked at the plight of our people and we have decided the position should go to the Northeast, judging from our unprecedented plight and circumstances, we deserve something, and asking for Speakership, will not be asking for too much,” he submitted. He warned that the party may collapse from within if certain interests of some people were allowed to prevail. Another aspirant, Hon. Ajibola Famurewa, yesterday stated that members of the House, especially from the North have “unofficially endorsed and mobilised other members of the green chamber for my candidature.” Famurewa, who represents Ijesa-South Federal Constituency of Osun State, stated that

he intends to lead other lawmakers at the lower chamber to re-address foreign policies of the country to protect Nigerians residing abroad. He averred that this is to forestall future reoccurrence of the horrific treatment some Nigerians were subjected to in South Africa and Indonesia recently. The lawmaker, who spoke in Osogbo, however expressed readiness to abide by the decision of leaders of the party, especially Tinubu and Governor Rauf Aregbesola, even if it does not go in his favour. He dismissed media reports that portrayed him as being desperate about his ambition, saying that he could not do anything against the wish and advice of APC leaders.

National Mirror www.nationalmirroronline.net

News

Monday, May 4, 2015

Freed women narrate ordeal in Boko Haram camp UBONG UKPONG ABUJA

aptives rescued from Sambisa forest said Boko Haram fighters killed older boys and men in front of their families before taking women and children into the forest where many died of hunger and diseases. Troops rescued hundreds of women and children last week from the Sambisa forest in a major operation that

has turned international attention to the plight of hostages. After days on the road in pick up trucks, hundreds were released yesterday into the care of authorities at a refugee camp in Yola, Adamawa State, to be fed and treated for injuries. They have been able to speak to reporters for the first time. “They didn't allow us to move an inch, said one of the freed women, Asabe Umaru, describing her captivity in the forest.

“If you needed the toilet, they followed you. We were kept in one place. We were under bondage. “We thank God to be alive today. We thank the Nigerian Army for saving our lives,” she added. Two hundred seventyfive women and children, some with heads or limbs in bandages, arrived in the camp late on Saturday. Nearly 700 kidnap victims have been freed from the Islamist group's forest stronghold since Tuesday,

with the latest group of 234 women and children liberated on Friday. “When we saw the soldiers we raised our hands and shouted for help. Boko Haram who were guarding us started stoning us so we would follow them to another hideout, but we refused because we were sure the soldiers would rescue us,” Umaru, a 24 year-old mother of two, said. The prisoners suffered constant malnutrition

Vice-President Namadi Sambo (right), Minister of FCT, Sen. Bala Mohammed (2nd right) and other dignitaries praying during the funeral for Chief Imam of Abuja National Mosque in Abuja, yesterday.

PDP: Northern govs reject plot to sack NWC, Mu'azu CONTINUED FROM PAGE 2

their resignation was orchestration by a few individuals bent on sowing seeds of discord within the PDP fold in the zone. “It is indeed undermining and a clear breach of protocol the fact that a meeting of some leaders of the zone would be convened to discuss issues of the party’s presidential campaigns and the highest-ranking national officers of the party from the zone were excluded. This is in continuation of the apparent marginalisation of the NWC and the party structure at all levels in the handling of the presidential campaigns. “More so, even some of those who attended the meeting were not privy to the agenda and the eventual content of the communiqué issued at the end. “In view of the above therefore, it will be absolutely unpatriotic and against the wishes and aspirations of majority of our party members from the South West through whose mandate we occupy the offices

of the national secretary and the national auditor respectively, if we concede to the demands in the communiqué, especially given the fact that as elected members of the NWC, our positions have a tenure which lasts until March 2016,” he said. Prof. Oladipo also said members of the PDP in Osun State, his primary constituency, have already passed a vote of confidence on him as the national secretary. He said that while some of those asking for their resignation performed very poorly even in their polling units, it is on record that the national auditor and himself performed creditably and delivered their areas in the general elections. “It is therefore disheartening that rather than joining other well-meaning members of our great party in supporting the NWC in the ongoing re-engineering process to rebuild the PDP, some elders from our zone, particularly, a former deputy national chairman, Chief George, who should know, have instead resorted to di-

visive politics by attempting to instigate our members against one another. What our party needs now in the South West and indeed across the country is for all hands to be on the deck as we work harmoniously in our determination to reposition the PDP to regain power in 2019,” he added. Efforts to get the side of the national chairman on the plot to sack him proved abortive as he failed to pick his calls. However the NWC has moved fast to save its neck by quickly constituting a Post-Election Assessment Committee to review and evaluate the performance of the party in the 2015 general elections. Membership of the committee include Sen. Ike Ekweremadu (chairman), Governors Godswill Akpabio (Akwa Ibom), Theodore Orji (Abia) and Ibrahim Hassan Dankwambo (Gombe) Others include Chief. Nyeson Wike, Mal. Ibrahim Shekarau, Engr. Abdulkadir Kure, Hon. Emeka Ihedioha,

Mr. Abba Moro, Alh. Adamu Waziri, Sen. Ahmed Moh Makarfi, Chief Makanjuola Ogundipe, Chief Pegba Otemolu, Mrs. Funmi Ayoola and Sen. Walid Jibril who will serve as member/secretary. The committee is to be inaugurated tomorrow at the PDP National Secretariat, Abuja. Meanwhile, in line with the planned restructuring of the party, stakeholders in Akwa Ibom State have reiterated their stance on the resignation of Mu’azu. Speaking in Uyo over the weekend, the coordinator of the 'Udom is Right' campaign organisation of the governor-elect of the state, Mr. Titus John said the interest of the party should be paramount to any office. According to him, what happened in the last elections must be considered most especially as it concerned a larger interest of the party than sectional interest, adding that those that were finding it comfortable to sing on the sectional interest were doing so out of mischief.

and disease, she said. “Every day we witnessed the death of one of us and waited for our turn.” Another freed captive, Cecilia Abel, said her husband and first son were killed in her presence before the militia forced her and her remaining eight children into the forest. For two weeks before the military arrived she had barely eaten. “We were fed only on ground dry maize in the afternoons. It was not good for human consumption. Many of us that were captured died in the Sambisa forest. Even after our rescue about 10 died on our way to this place,” she said. The freed prisoners were fed with bread and mugs of tea as soon as they arrived a government camp. Nineteen were in hospital for special attention, Dr. Mohammed Aminu Sulieman of the Adamawa State Emergency Management Agency said. Amnesty International estimates that the insurgents, who are intent on bringing West Africa under Islamist rule, have taken more than 2,000 women and girls captive since the start of 2014. Many have been used as cooks, sex slaves or human shields. The prisoners freed so far do not appear to include any of more than 200 schoolgirls snatched from school dormitories in Chibok town a year ago, an incident that drew global attention to the six-yearold insurgency. Umaru said her group of prisoners never came in contact with the missing Chibok girls. Nigerian troops alongside armies from neighboring Chad, Cameroon and Niger have won back swathes of territory from the sect in the last couple of months. Last year, the group exerted influence over an area bigger than Belgium. But a counterattack launched in January pushed them into the Sambisa forest, a nature reserve. While the Nigerian army is confident it has the group cornered, a final push to clear them from the area has been curtailed by landmines. President Goodluck Jonathan, who relinquishes power later in May after his

election defeat to Muhammadu Buhari, has promised to hand over a Nigeria “free of terrorist strongholds.” Meanwhile, troops yesterday captured a man who specialises in supplying fuel and food to the terrorists. Defence Headquarters, DHQ, which confirmed in an update on its operations through the Director of Defence Information, DDI, Maj-Gen. Chris Olukolade, that the supplier was nabbed yesterday in Daban Shata in the suburbs of Baga Borno State, also announced the rescue of 260 women and children fleeing from terrorists in Adamawa State. DHQ said military intelligence had been trailing the supplier till he was eventually trapped in the early hours of yesterday, adding that he is already undergoing interrogation. “In another development, troops on patrol yesterday located 260 women and children on the outskirts of Chalawa village in Adamawa State where they had been held while trying to escape from terrorists. “They have now been conveyed back to their various communities in Madagali after undergoing the normal security profiling. “Some of them disclosed that they had to abandon their homes to escape from the terrorists when Madagali came under their attack, while others were actually abducted and taken there. The terrorists were however sacked from the Madagali recently. “A number of terrorists however died in an encounter with troops which caught up with them as they fled prior to the recovery of the women and children. Some of the terrorists still managed to escape with varying degrees of gunshot wounds. Others who were captured are now being interrogated by intelligence officers. “A machine gun, some rounds of ammunition as well as some motorcycles and bicycles were also captured from the terrorists. A member of the vigilante group serving as guide to the troops was however wounded. “The operation in Sambisa forest is continuing as troops are methodically searching every aspect of the expansive terrain,” DHQ stated.

News

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Probe PwC over poor ‘forensic report’, Rep tells Buhari WOLE OLADIMEJI ABUJA

he incoming administration of General Muhammadu Buhari has been called upon to probe and sanction PriceWaterCoopers, PwC, the international firm that audited the account of Nigerian National Petroleum Corporation, NNPC, for allegedly doing a shoddy forensic audit of the corporation, with regards to the missing $20 billion. Honorable Solomon Adeola, chairman, House of Representatives Committee on Public Accounts and Senator-elect, made the call yesterday while speaking with journalists in Abuja. It would be recalled that the immediate past Central Bank of Nigeria, CBN governor, now Emir of Kano, Alhaji Sanusi Lamido Sanusi, had earlier alleged that $20 billion was missing from the corporation’s coffers. Adeola also called on the incoming govern-

ment to suspend PricewaterCoopers in carrying out any financial audit or investigation on behalf of the Federal Government of Nigeria or any of its agencies with immediate effect. Adeola, who is now Senator-elect for Lagos West Senatorial District, while reacting to disclosures by PWC that it did not actually carry out full audit of NNPC accounts, maintained that his committee had long ago noticed there was foul play in the PricewaterCoopers report. According to him, “now, PriceWaterCoopers have said there is no report, that what they did was not a forensic audit but just gathering of information, that a lot of documents were not released to them to carry out this exercise. But prior to now, all these were not brought to the notice of this country and the country has been deceived all along. “There were a lot of figures in the air where

there was $4.985 billion as against $1.485 billon. And if a reputable firm like PricewaterCoopers could go to that level, I think it is only fair and proper for such body to be reported to the International Federation of Accounting and also to the Institute of Chartered Accountants of Nigeria, ICAN, which I believe that firm is an affiliated body,” he stated. He maintained that

PWC should be able “to explain their role in this $20 billon saga. “PricewaterCoopers has collected audit fee from the Federal Government. If there was no audit carried out, if there was no report submitted, I think they should go ahead and refund back into the Federal Government coffers the amount collected by this body in carrying out this audit exercise, failure of which

it should be met with very stiff disciplinary action from the Federal Government and relevant professional bodies. “Because, for a highly rated reputable auditing firm to come out to Nigerians and release such reports shows there is more to it. And also all investigation or audit exercise that has been carried out by PricewaterCoopers for the last couple of years should

be revisited with immediate effect by the incoming administration. “And don’t forget that during the oil subsidy issue PricewaterCoopers was engaged to carry out audit exercise of this particular issue. “I also implore the incoming administration to carry out verification of report submitted on this particular matter by PricewaterCoopers on the issue of oil subsidy.

RMAFC commends NIPC’s reform programmes

evenue Mobilisation Allocation and Fiscal Commission, RMAFC, has commended the Nigeria Investment Promotion Council, NIPC, for its reform programmes aimed at transforming the council into a world-class investment promotion agency, enforcing the rule of law and minimising leakages in activities of the NIPC. Chairman of the commission, Elias Mbam, who made the call yesterday at the presentation of Status Report on the administration of Fiscal Incentives by members of the commission’s Non-Oil Monitoring Committee in his office in Abuja, observed that Nigeria at the moment cannot sit back and watch a few unscrupulous elements in our midst fiddling with our common patrimony by taking undue advantage of some fiscal policies, including the Pioneer Status Incentive, waivers, concessions, and tax holidays, designed by government to encourage and promote economic activities in priority areas and growth driv-

ers of the economy. The chairman added that the issue of import duty waivers, concessions and exemptions has direct bearing on the quantum of revenue accruals into the federation account, which gets depleted and consequently affects every tier of government. He said RMAFC was quite pleased with the Executive Secretary of NIPC, Mrs. Saratu Umar, for taking bold and impactful steps that had sanitised the granting of Pioneer Status Incentives, which had hitherto witnessed challenges in its administration that led to huge revenue loss by the federation, stressing that all these reforms will translate into more revenue to the federation account. In the same vein, Mbam also advocated for a multistakeholder approach involving revenue generating agencies and regulatory bodies to stop revenue leakages so as to boost the dwindling revenue base of the federation, which has nose-dived as a result of the volatility in international oil prices.

L-R: Former Prime Minister of Niger Republic, Mr. Shehu Amadou; President-elect, Gen. Muhammadu Buhari and Ambassador of Niger Republic, Mansour Maman Hadj Daddo, during a courtesy visit to the President-elect in Abuja, yesterday.

US projects $1trn mark for Nigeria’s economy ... S’Africa, Egypt to trail growth trajectory TOLA AKINMUTIMI

espite its current fiscal challenges, Nigeria’s economy has been predicted to hit the $1 trillion mark by 2030 by the U.S. Department of Agriculture, thereby making the economy the first African country to achieve such remarkable growth feat by the target date. It also projected that South Africa economy would come closest to Nigeria’s economy with a projected GDP of $810.6 billion, followed by Egypt as the continent’s third largest economy with $471.5 billion GDP. Nigeria as Africa’s most populous nation rebased its gross domestic product data in 2014, which pulled her economy ahead of South Africa to become the continent’s largest economy with a GDP of $469 bil-

lion. Experts are predicting that between now and 2030, Nigeria’s annual growth rates will be as high as 7.92 per cent, which ultimately would translate to an estimated $1.05 trillion GDP within the next 15 years. Charles Robertson, global Chief Economist at Renaissance Capital, predicts that “a lot of Nigeria’s growth will come from agriculture and services sectors, adding that he actually expects the country’s GDP to reach $1 trillion before 2030. “Banking, retail, telecoms and Nollywood has been an explosive growth story in the past couple of years,” Robertson said. As a source of employment for 70 per cent of Nigeria’s population in 2013, the country’s $56 billion agriculture sector currently accounts for 24 per cent of

GDP. Bouyed by the remarkable growth trajectory recorded in the sector under the Agricultural Transformation Agenda, ATA, Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, had predicted recently that the new millionaires of the country will be in agriculture. According to analysts, these are huge numbers by Nigerian and African standards, however, they look less impressive next to others from around the world. For instance, by 2030, the U.S. economy is expected to reach $24.8 trillion, China’s GDP will approach $22.2 trillion and Indian output will be at the $6.6 trillion mark. Closest behind Nigeria in terms of economic clout on the continent in 2030 is South Africa with a projected GDP of $810.6 billion. Given that power shortages have caused the country to cut its economic

growth forecasts for 2015 by 0.5 per cent, economic development experts believe that the power sector will be a key area of the country’s infrastructure which number crunchers will be watching. In February, during his first full budget speech, the country’s Finance Minister Nhlanhla Nene, identified the need to focus on the country’s power crisis, saying that “electricity constraints hold back growth in manufacturing and mining, inhibit investment in housing and raise costs for businesses and households.” Egypt is due to follow South Africa as the continent’s third largest with $471.5 billion GDP. The U.S Department of Agriculture foresees Egypt’s yearly growth rates consistently surpassing 4.2 per cent in the next 15 years while Renaissance Capital is bullish on the North Africa country.

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Monday, May 4, 2015

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Monday, May 4, 2015

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Stop bickering, form credible opposition, Mark tells PDP faithful • Next Senate President must emerge through due process —Sani

resident of the Senate, David Mark, has urged Peoples Democratic Party, PDP, faithful to stop bickering and face the new task of providing a credible and formidable opposition in the country. This is contained in a statement issued by Mark’s Chief Press Secretary, Paul Mumeh, and made available to the News Agency of Nigeria, NAN, yesterday, in Abuja. The statement said

Mark made the appeal in Abuja at a parley with PDP senators and members of the House of Representatives. The senate president said it was important for PDP members to put the failure of the last elections behind them and concentrate on building a strong and united party, ready to offer credible opposition. “There is no need weeping over lost opportunities or mistakes of yesterday.

“The failure of yesterday should be our lesson for a better today and a triumphant future. “We must accept the ups and downs as an opposition party; that is what the PDP is now. We must remain a united family and face reality,” he said. Mark stressed that the not-too impressive showing of PDP in the last elections might, in the long term, be a blessing to the party and nation. He said the party must

go back to the drawing board, carry out critical review and fashion out a blue print to get itself out of its present circumstances. “The role of opposition is strange to us, but it is not a death sentence. We should be ready for the challenges. “We are prepared to play a credible opposition. I believe the nation and indeed, Nigerians would be the best for it.” He therefore called on all stakeholders in PDP

to shun bickering and resolve to work together for a united and strong party. Meanwhile, a Senatorelect under the All Progressive Congress, APC, Malam Shehu Sani, yesterday said that the next Senate President must emerge through a free and fair process devoid of any sectional interest. Sani, in an interview in Kaduna, decried the acrimony generated by those contesting for the position on the platform of APC, saying it was not in the best interest of the party. “The new Senate President must emerge from a process that is free from ethnic, religious or sectional sentiments.

“The senate president must reflect the spirit and emerging order, and must follow through the programmes and manifestoes of the APC,’’ Sani said. He advised those campaigning for the position to allow the APC to make a formal announcement as to where the position had been zoned to. Sani was particularly unhappy with those “currently engaged in name-dropping’’ in their desperation for the position. The civil rights activist, who would represent Kaduna Central at the Senate, said he would not endorse any of the aspirants, if the party had not done so.

Tears as Abuja Chief Imam is buried

C L-R: Kaduna State Governor-elect, Malam Nasir el-Rufai; National Chairman, Anwar Faidot Society of Nigeria, Alhaji Abdulrazak Kalejaiye and Deputy President, Nigeria Labour Congress, Comrade Issa Aremu, during the 7th day Fidau prayer for the late Chief Imam of Anwar Mosque, Sheikh Daniyatu Shita-Bey, in Kaduna, yesterday.

4 Nigerian lecturers bag British Council grants

ritish Council in Nigeria on Sunday said it had awarded N7.3 million research grants to four Nigerian university lecturers. This is contained in a statement issued in Lagos State by the council’s Communications

Manager, Mr Desmond Omovie. According to the statement, the award was issued through the Researcher Links Travel grants. The statement listed the beneficiaries as Dr Anozoeze Madu and Dr

Vincent Chigor, all of the University of Nigeria, Nsukka; Dr Rowland Kayode and Dr Temilade Sesan of the Universities of Ilorin and Ibadan, respectively. It explained that the grant was to assist the lecturers undertake var-

ious research work that would meet the developmental goal of Nigeria. “The awardees will be supported by established researchers in the UK, with proposed activity, selected on the basis of mutual benefit,” it stated.

N’Delta youths affirm support for Buhari Theophilus Onojeghen WARRI

ouths under the aegis of All Progressives Congress, APC, Security Committee in the Niger Delta states have restated their support for the administration of President-elect, Muhammadu Buhari, to bring sanctity to the

Nigerian system and implement developmental strides aimed at healing the wounds of people of the region. The group’s coordinator, Mr Bibi Oduku, told journalists in Warri yesterday that people of the Niger Delta have a lot to benefit from the incoming administration of Buhari, as it would fulfill promises made to the region

by late President Umaru Yar’Adua. Condemning the actions of some groups within the region, which have been claiming responsibility for series of pipeline explosions in Delta State, Oduku said: “Their demands may be genuine, but dialogue is a better tool for negotiation. “We, in the Niger Delta, would not allow anyone

exploit our difference in creed or tongue to set us against one another.” He therefore urged youths of the region to shun all forms of criminality and join hands with the APC-led government to bring the elusive development to the Niger Delta, noting that there cannot be any meaningful development in the absence of peace.

hief Imam of Abuja National Mosque, the late Sheikh Musa Muhammad, was yesterday buried at Gudu Cemetery in the Federal Capital Territory, FCT, amid tears and prayers from families and well-wishers. The News Agency of Nigeria, NAN, reports that the burial, which was conducted under tight security, was attended by Kano State governor-elect, Umar Ganduje. Other dignitaries included FCT Minister, Bala Mohammed; former deputy Senate President, Ibrahim Mantu; Senators Adamu Aliero and Ali Ndume. Fielding questions from newsmen after the burial, Mantu expressed shock over the incident. “When I got the news yesterday, I was shocked but I know that life is in the hands of God and Allah can take one’s life anytime He so wishes, because He is the custodian of life,” he said. Chief Imam of AlHabibiya Mosque, Sheikh Imam Abdulganiu, said the deceased was a detribalised Nigerian who worked tirelessly to ensure unity among the Muslim community. Abdulganiu prayed Allah to grant the deceased

paradise and give the family the fortitude to bear the loss. On his part, the Deputy Chief Imam of the National Mosque, Sheikh Ahmad Onilewura, prayed Allah to grant the deceased Aljannatul Firdaus. However, Mallam Musa Babangida, the eldest son of the deceased, declined comments as he told NAN that he was not in the mood to speak with the press. Vice president Namadi Sambo; former secretary to the government of the federation, Yayale Ahmed; INEC chairman, Attahiru Jega, and the Etsu Nupe, Yahaya Abubakar, were some of the personalities that attended the funeral prayers offered for the deceased at the National Mosque.

Muhammad

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Monday, May 4, 2015

Eko Atlantic City ready for occupation –Commissioner FRANCIS SUBERU

he first set of office buildings at the famous Eko Atlantic City in Lagos are ready for occupation, even as indications show that the new city will begin to witness influx of people by next year. Already, a project concessionaire has offered for sale some of the ongoing infrastructure that would serve as offices in the city.

...as concessionaire offers buildings for sale Segun Oniru, Lagos State Commissioner for Waterfront Infrastructure, who gave an update on the development of Eko Atlantic City, said among projects in advanced stages are the Afren headquarters building; a skyscraper currently at its 16th-floor construction and Eko Pearl Tower, adding that the buildings are likely to be completed next

year. According to Oniru, the project is no longer a mere idea, “it is now a reality, as significant progress has been made with ongoing construction of various infrastructures such as storm water drainage, installation at 79 per cent, sewage pipe installation at 40 per cent, water supply pipe installation at 21 per cent, and tele-

com ducts installation at 27 per cent.” Oniru, who described the new city as the most impressive urban development project in Africa, said: “The ongoing construction work include buildings owned by ITB, which is currently at 16th floor, as well as Eko Pearl Towers currently at the 5th floor of which the concessionaire has offered

for sale and has attracted significant rate of subscribers.” The commissioner disclosed that of the total land size to be reclaimed from the Atlantic Ocean (almost twice of the land size of Victoria Island), about 5,184,999 square metres had been reclaimed as at October 2014, and 33 million cubic metres of sand pumped since

commencement of phase 1 of reclamation in November 2011, while total sand pumped in both phase I and II was in excess of 58 million cubic metres. The project coming with an added advantage of decongesting and protecting Victoria Island from the danger of frequent ocean surge, upon completion would host an estimated 250,000 people, who would live and work within the city.

Systemic failure cause of airlines’ indebtedness –NAMA boss OLUSEGUN KOIKI

M L-R: Chairman, Dejofas Nigeria Ltd, Chief Olufemi Ajeniya; Alaafin of Oyo, Oba Lamidi Adeyemi III and Royal Ambassador to Alaafin, Aare Ayandotun Ayanlakin, during a royal visit by Ajeniya to the Alaafin in his palace in Oyo, at the weekend.

N852bn lost to strike in Fashola’s govt FRANCIS SUBERU

agos State government has said that at least, N852 billion was lost in 1,279 days of nation-wide industrial actions, which took place in the country in the last eight years. According to Governor Babatunde Fashola, very substantial revenue is always lost in monetary terms anytime the nation resorts to strikes, and such colossal amounts could have been deployed to improve the lives of the citizens. Speaking with members of labour unions in the country at the weekend, Fashola stated that he recently directed a low scale study on strikes between the 2007 and 2014 and the result showed that almost 30 different strikes took place between that period, with about 1,279 days lost to the industrial actions. He said: “Let me dimension what that can mean

if it took place in Lagos alone, this state generates an approximate N20 billion every month. So, every day, it is about N600 million. If you do it in Lagos it would amount to N852 billion. Imagine what that would have done in your lives,” he said. He maintained that he was restating the point not because anything was wrong with strike on its own, but that everything is wrong with deploying the wrong solution to a problem. “What we need most

is to deliver power, to revive our economy, to create jobs. Strikes will not revive the Nigerian economy,” he said. Fashola said since organised labour have now voted for change in government at the centre, their attitude and strategy must also change and that it is only through this that everyone can experience change in their lives. He added that one of the things that should be considered for change is the way the May Day is

celebrated every year, saying despite the holding of yearly rallies, no national communiqué has been produced from the yearly rallies. He suggested that perhaps, instead of standing in the sun for rallies, the funds expended for buying caps and T-shirts can be used to rent a hall where a one day workshop would hold on how to solve one of the major problems in Nigeria whether it is housing, power or education among others.

anaging Director of Nigerian Airspace Management Agency, NAMA, Engr Ibrahim Abdulsalam, has attributed systemic failure in the country to the massive indebtedness of local airlines. This is as he revealed that the Federal Government has invited a consulting firm to address the debts of Arik Air, while the debts of other airlines were routed through the umbrella body of local carriers in the country, Airline Operators of Nigeria, AON. NAMA boss also hinted that the agency would in a couple of weeks installed navigational aids at six airports, including Lagos to boost safety in airspace. Abdulsalam stated these over the weekend at the agency’s headquarters at Murtala Mohammed Airport, MMA, Ikeja, Lagos, during a breakfast meeting with aviation correspondents. Abdulsalam described the enormous debts of airlines as a serious issue

that should be properly addressed by the government, adding that such debts could ground the agency and the airlines. Some of the systemic challenges, according to Abdulsalam, were the skyrocketing price of aviation fuel, inconsistent power supply, acquisition of aircraft and payment of wages for staff. On Arik Air debt, he explained that the government decided to invite a consultant to reconcile their accounts, but noted that the same consultancy firm declared to government that it also consults for the airline. This, he said, stalled progress in reconciliation of the accounts, but assured that when this was finally resolved, the government would proceed with the reconciliation exercise. He explained that in order to tackle the issue, government has invited a third party to reconcile their accounts, stressing that was the reason the affected agencies had been silent on the issue, the amount of money owed and had not published their names.

Aregbesola seeking solution to Osun financial challenges –Oyintiloye BOLADALE BAMIGBOLA OSOGBO

awmaker-elect for Obokun state constituency of Osun State, Mr. Bosun Oyintiloye, yesterday stated that the problem associated with finances in the state, which made it unable to pay its workers, will soon be solved, assuring that Governor Rauf Aregbes-

ola was exploring options to mitigate the effect of the situation. He also expressed hope for a better managed economy of the country under the government of General Muhammadu Buhari, just as he blamed shortfall in allocation to states on poor management of the economy by the Federal Government. According to him, better

management of the economy by Buhari government would bring about improvement in allocation accruable to the state. Speaking with newsmen in Osogbo, Oyintiloye appealed to workers to continue to support the government and endure a little longer, expressing optimism that issues surrounding non-payment of their salaries would soon be

resolved. “It is a public knowledge that Osun was being starved of fund by the Federal Government because of Aregbesola’s role to effect a change of government, with a view to ensuring good governance in the country. “Though the situation is regrettable, but Mr. Governor deserves to be commended for holding the

state till now. If not for the proactive measures of the administration, activities of government would have been completely crippled,” Oyintiloye said. He, however, condemned those he called mischief makers, who thrive on blackmail and has reduced the present challenges to act of callousness on the part of the state government.

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Orekoya kidnap: Police declare masterminds wanted Dare Akogun

L-R: Rev. Dr. Ogheneruemu Eruenah; Mr. Jide Ladeinde; Rev. Canon Niyi Agesin; Chairman on the occasion, Mr. David Majekodunmi; Mr. Akin George Taylor; Mrs. Adebisi Shonekan; Mr. Gbolaga Ajayi and Mr. Lanre Philips, cutting cake during the 2015 Feast of Dedication Service to mark the 148th anniversary of the Cathedral Church of Christ, Marina, Lagos, yesterday.

STH infection: WHO, others mount campaign in Ekiti A biodun N ejo ADO EKITI

survey to enable Ekiti State pupils suffering health condition known as Soil Transmitted Helminthes, STH, to receive free treatment is to be conducted in 11 council areas of the state. Results of the nineday survey sponsored by Children Investment Fund Foundation, CIFF, in collaboration with World Health Organisa-

tion, WHO, Federal Ministry of Health and Ekiti Ministry of Health, billed for tomorrow, will be used by the state’s Ministry of Health to receive free drugs from WHO through the FMH. The state government in a statement yesterday urged parents not to panic over the exercise, as it was aimed at the well-being of children. The government appealed to parents and teachers to cooperate with health officials that

would carry out the exercise in selected five schools in the 11 council areas. The STH, a health condition caused by a group of worms, which exist as parasites in the intestine of infected people, affects mostly young children between the ages of five and 15 years, living or playing in areas with poor sanitation. Its effects include anaemia, Vitamin A deficiency, malnutrition, loss of appetite, retarded

growth and reduced learning ability. Reports say Nigeria has the highest burden of the disease in Africa with over 28 million children in the country at the risk of contracting STH infection. Survey carried out in five council areas in Ekiti last year showed the prevalence rate of the disease was alarming, with about one out of every three children infected in some of the schools surveyed.

Osun PTA to assist in tax collection Boladale Bamigbola OSOGBO

eadership of Osun State Parents/ Teachers Association of Nigeria, PTA, has stated its readiness to help the state government collect accumulated taxes from its members. Rising from a meeting at the weekend, the state and local government executives of the association in 30 council areas of the state, and the state’s Internal Revenue Board led by its chairman, Dayo Oyebanji, also resolved that the N1,500 tax bonanza for 2013, 2014 and 2015, making N4,500

for each parent would be paid at once to assist the state in its current financial predicament. According to Osun PTA Chairman, Demola Ekundayo, the decision was borne out of the need to assist government in its revenue collection drive and was also part of the association’s resolve to contribute to the development of the state. While lauding developmental programmes embarked on by Governor Rauf Aregbesola’s administration, especially in the education sector, Ekundayo, however, appealed to government not to relent in providing qualitative education for

students as promised in his Six-Point Integral Action Plans. While noting that Aregbesola has been using the tax to develop the state, he said sequel to this, parents had deemed it fit to complement his efforts in moving the state forward. Reacting, Chairman of the state’s Internal Revenue Service, Mr. Dayo Oyabanji, commended the PTA for its support and assured that government would not relent in ensuring good standard of living and better education for the pupils. He said the tax bonanza was introduced to

make its payment affordable and stress-free, adding that at the expiration of the bonanza period, each parent would have to pay the amount commensurate with their earnings. Oyebanji lamented that out of the two million people estimated to pay tax, less than 100,000 persons, including public servants were actually paying taxes when due to government in the state. He therefore, warned that it may be impossible for government to provide infrastructural amenities to the people when majority are evading taxes.

agos State Police Command yesterday revealed the identity and declared wanted husband of the nanny and another man, who masterminded the kidnap of the Orekoya kids recently. Police Public Relations Officer, DSP Kenneth Nwosu, also disclosed that the command was close to arresting the suspects simply identified as Mr. Waheed and his brother, Akeem. Nwosu said efforts were ongoing by men of the police command to arrest the suspects, as the command would leave no stone unturned in their search. He appealed to anybody with information on the suspects to come forward or visit the nearest police station. “We will appreciate and indeed reward any credible information that would

facilitate their arrest; together we can keep Lagos and indeed our neighbourhood safe and crime-free,” he said. Recently, the command announced the arrest of Mary Akinloye, the 23-yearold nanny, who kidnapped three children in Surulere area of the state. The children, Ademola, 6, Adedamola, 4, and Aderomola, 11 months old, of the Orekoya family, were kidnapped by their nanny, Akinloye, an indigene of Ibadan, Oyo State, on April 8, a day into her job as family maid. The police revealed that the kidnappers, faced by immense pressure the incident had generated, abandoned the children in Shasha area of the state. The children were immediately taken to an undisclosed hospital for observation and later re-united with their parents.

Health expert decries shortage of nurses, midwives

ational Association of Nigerian Nurses and Midwives, NANNW, yesterday urged President-elect, Gen. Muhammadu Buhari, to address the shortage of nurses in hospitals and health centres. Chairman, Lagos State Council of NANNW, Mrs Olushola Olatunde, told the News Agency of Nigeria, NAN, in Lagos that employment of more nurses and midwives would enhance health service delivery across the country. According to her, not less than 200 nurses would be retiring from general hospitals in Lagos this year, aside those retiring in other parts of the country. She therefore, suggested that not less than 600 young nurses should be employed to replace them, according to the standard practice. Olatunde said in the past, when an experienced nurse that had attained the peak of his or her career retired, government would employ three or four nurses whose salaries were commensurate with the retiring nurse, as replacement. “But now, when a nurse who had completed her tour of duty retires, government would just employ any young and inexperi-

enced nurse. “Of course, there is no way the inexperienced nurse can fill the gap created by the retired nurse effectively in terms of cognate experience,” she said. According to the health professional, hospitals and health centres were increasing without commensurate nurses and midwives to offer needed services to the people. “Our profession happens to be unique in the sense that we form the largest part of health care delivery. “Unfortunately, we render selfless services and are hardly appreciated, but we cannot give what we don’t have. “We believe that government should continue to employ nurses and midwives because shortage of staff is affecting the health care delivery,” she said. According to her, if government continues to establish health centres without employing the required number of nurses to manage them, this would not guarantee improvement in the health sector. She urged employers of nurses and midwives to always provide the right environment for their employees to give their best.

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Varsity builds 10 hostels with IGR in one year, says VC

ichael Okpara University of Ag riculture, Umudike (MOUAU), Abia State, said it spent N1.5 billion of its internally-generated revenue (IGR) to construct 10 hostels in the institution within one year. Prof Hillary Edeoga, the institution’s vicechancellor, disclosed this to the News Agency of Nigeria (NAN) yesterday in Umuahia, adding that the effort was meant to provide adequate comfort and convenience for the students. “Before I was appointed in 2011, there were only two hostels in the institution. “When I came on board, I constructed 10 hostels in one year and these hostels were inaugurated by former Minister of Education, Prof. Ruqayyatu Rufai. “We built these hostels from our IGR and each room has its own toilet a kind of self-contained - for the four occupants. “We started the construction in August 2012 and completed them in August 2013. “Having inaugurated the new hostels, we decided against charging the old rate of N10,000 per room per academic year, which was the rate in the old hostels nicknamed ‘Ajegunle’. “However, the new hostels nicknamed ‘Abuja’ attracts N60,000, which is not compulsory. “In fact, we made alternative accommodation arrangements for few students we could not accommodate in the ‘Abuja’ hostels. “Also, some of those who had paid but could not get accommodations in the new hostels were given the option of either having their rents refunded or use them in next academic session,’’ he said. Edeoga added that the N60,000 the university authorities charges students covers accommodation, transportation and other facilities. According to the VC, the university provided 20 buses and taxi cabs to convey students around the campus free upon

South East

Monday, May 4, 2015

showing their cards for the hostel rent, adding that prior to his appointment, some of the colleges were on the verge of being merged, but he reversed the plan by ensuring the courses of such colleges were accredited by the relevant professional bodies. “When I came on board, I rebranded the colleges and upgraded the university’s ICT, which made the public to start patronising our programmes. “Also, our JAMB quota has risen from an initial 1,250 to 5,000 within three years,’’ he said. Also, the institution’s head of public relations, Mrs. Onyinyechi RalphNwachukwu, told NAN that its solar-powered street light manufactured in Denmark has enhanced learning and research. She said the manufacturers built them after a study of the institution’s environmental needs. Ralph-Nwachukwu said MOUAU has not experienced any internal strikes over the years except the ones initiated by the national executive of then Academic Staff Union of Universities (ASUU). She said the institution has continued to enjoy a seamless flow of academic activities.

NUJ urges S’East govs to revive print media Dennis Agbo ENUGU

igeria Union of Journalists (NUJ) has urged governments in the South East to revive print media outfits already in comatose in the zone. The media organisations in question include the National Ambassador (Abia), National Light (Anambra), The Patriot (Ebonyi), Daily Star (Enugu) and The Statesman (Imo). NUJ national vice president for South East, Chris Isiguzo, gave the charge yesterday in commemoration

of the 2015 World Press Freedom Day. Isiguzo congratulated journalists in the zone for their dedication and discharge of their duties with utmost sense of professionalism. He reminded his colleagues that the objective of the celebration was to remind government and nongovernment organisations, as well as civil society organisations of the vital role freedom of the press plays in strengthening democracy and promoting development around the world. Said he: “The theme for this year’s World Press

Freedom Day, which is ‘Let Journalism Thrive Toward Better Reporting, Gender Equality and Media Safety in the Digital Age,’ is therefore apt in view of the array of challenges facing the media the world over. “As we celebrate, we must take time to reflect on salient issues that would further help in advancing the practice of the journalism profession, bearing in mind that a free press is a critical tool for the development and sustenance of democracy. “The role of the media cannot be over-emphasised. Apart from the primary role of educating, informing, en-

lightening and entertaining, the media remains an agent of positive change. The press can assist in strengthening and deepening our democracy through promoting transparency, accountability, good governance, human rights and the rule of law.” He said workers in the South East print media establishments should be able to enjoy as much support as their partners in the broadcast stations in the state, and appealed to journalists in the zone to key into the union’s insurance scheme as a way of ensuring their security and redemption should any harm befall them.

L-R: Managing Director, MultiChoice Nigeria, John Ugbe; Nollywood star, Patience Ozokwor; Regional Director, AfricaMagic West Africa, Wangi Mba-Uzoukwu and comedian, Bright Okpocha, during the launch of AfricaMagic Igbo in Enugu, at the weekend.

Chamber urges Obiano to eliminate multiple levies, taxes in Anambra

nitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) yesterday appealed to Governor Willie Obiano to eliminate multiple taxes and levies in Anambra State. The chamber’s President, Dr. Tim Anosike, told the News Agency of Nigeria (NAN) in Onitsha that multiple taxes and levies were discouraging investments in the state. “Addressing the issue of multiple taxes and levies, the ONICCIMA helmsman said the new arrangement should include streamlining of all taxes as well as publishing approved regime of taxes and authorised collection agencies.

“The measure will not only improve the revenue base of the government, but also checkmate illegal tax/levy collections in the state. “Let this problem be tackled once for all in this

state,” he said. However, the chamber’s boss lauded the state government for pursuing its four-point agenda, “which is gradually yielding the needed dividends.” “We are happy the stra-

tegic four-point agenda of Governor Obiano is on course, with the rate of development going on in key sectors throughout the state.” According to him, road construction, tourism in-

frastructure, agriculture and rural development, including provision of enabling environment for business and healthy living, are now steadily receiving adequate attention.

Aliuna Godwin

state headquarters of the commission in Abakaliki. INEC Resident Electoral Commissioner, REC, Dr. Lawrence Azubuike, thanked Oluwole for coming to their rescue, recalling how the commission had existed for years without a place for workers to access information. Dr. Azubuike, represented by Head of Depart-

ment, General Administration and Procurement, Dr. S. Johnson, described the corps member as humble and hard-working and urged his colleagues to emulate him. He noted that INEC and the National Youth Service Corps, NYSC, have maintained cordial synergy for years just as he commissioner paid tribute to the

corps for the success of the just- concluded general elections, describing it as an indispensable tool in Nigeria’s electoral process. In her remarks, NYSC state coordinator, Mrs. E. G. Mgbachi, noted that the purpose of establishing the NYSC has been achieved through the likes of Oluwole, and urged his colleagues to emulate him.

\ABAKALIKI

ndependent National Electoral Commission, INEC, Ebonyi State chapter, at the weekend applauded a corps member, Mr. Omolekan Oluwole, for his doggedness in constructing a mini library equipped with research materials for the

South South

Dare Akogun

ecades of unchecked Niger Delta oil spills could cost Shell billions in compensation and clean-up costs, Amnesty International warned investors as the Anglo-Dutch oil giant published its profit figures for the first quarter of 2015. The United Nations Environment Programme, UNEP, estimated that $1 billion was needed for the first five years of oil cleanup for Ogoni land, just one Nigerian region where Shell operates. It projected that cleaning oil pollution in the area could be a 30year operation. “Investors must beware of the hidden costs that await Shell in its Niger Delta operations. For decades the multi-national oil giant has failed to stop the oil spills, or clean up the devastating pollution that has destroyed lives and livelihoods,” said Mark Dummett, Business and Human Rights researcher at Amnesty International. “Last year, Shell made profits of $15 billion, so investors may see it as a safe bet. But court actions have already forced it to pay out millions in compensation, paving the way for future actions from other Nigerian communities that have borne the brunt of the company’s negligence.” This January, Shell, the biggest oil company operating in the Niger Delta, finally agreed to pay $84 million compensation to one community in Bodo, Ogoni land after thousands of residents took Shell to court in the Unit-

ed Kingdom. The company had originally offered them a paltry $6,100 for the devastation of fishing and farming livelihoods caused by just two of hundreds of Shell oil spills every year. Shell has reported more than 1,000 Niger Delta oil spills since 2009, with 204 spills in 2014, and 203 in 2013. Nigeria is a major country of operation for Shell, providing 10 per cent of its oil production in 2014. “Shell will also have to play its part, cleaning up the lasting damage from the hundreds of oil spills that continue to blight the Niger Delta every year. It should come clean with investors making clear what contingencies it is putting aside to put right the damage done over the last half a century,” said Dummett. Shell claims that the vast majority of spills in Nigeria are caused by oil theft and sabotage. While these are serious problems, Shell was forced to disclose during the court action taken by the Bodo community that it knew sections of its pipelines contained “major risk and hazard” since at least 2002. Moreover, Shell’s claim is based on a flawed oil spill investigation process. “Shell continues to blame theft and sabotage for oil spills, but old pipelines and badly maintained infrastructure are a major cause of pollution,” said Dummett. Investors in Shell should ask the company to remedy the corporate abuses in the Niger Delta and demand more transparency about oil spills and future clean-up and compensation plans.

Monday, May 4, 2015

Uduaghan seeks return of varsity weekend programmes Theophilus Onojeghen WARRI

elta State Governor Emmanuel Uduaghan has appealed to management of the Nigerian University Commission, NUC, to reverse its earlier decision to scrap weekend and continuous education programmes from the country’s universities, saying

the action would dissuade interest in education and promote illiteracy. Uduaghan, who spoke at the 9th convocation of the state-owned Delta State University, Abraka, at the weekend, maintained that the programmes were of far-reaching gains than the negative factors that contributed to its stoppage. According to the governor, NUC action has completely shut the door against

Ibobra said the explosion, which caused fire that raged over a month in the area, affected aquatic lives of the people contrary to Chevron’s position on the matter. He said: “It is a show of the insensitivity by Chevron Nigeria Limited, CNL, to say the rig explosion had no adverse effects. “In addition to distorting the ecosystem, our fishing vocation has never been the same since. “We no longer catch fish

poor people, who used the programmes to further their education, while also running smaller businesses to fend for their families. Uduaghan, who is a regular visitor to the institution, said the commission should review its decision so as to bridge the gap between the literate and illiterates who want to go to school. He added that such programmes also generate

funds for Nigerian universities for self-development. Earlier, Vice Chancellor, Prof. Victor Peretimode, said his administration had evolved a development plan that would impact on provision of facilities many years from now. According to him, 648 diplomas, 8,148 first degrees, 206 postgraduate diplomas, 560 postgraduates and 45 doctoral students took part in the convocation.

L-R: Widow of the late Special Adviser to the President on Research, Documentation and Strategy, Oronto Douglas, Mrs. Tarinabo and her children, Ogiel and Daniel, during a commendation service at St. Peter’s Deanery, Anglican Diocese of Niger Delta West in Yenagoa, on Saturday.

Amaechi apologises to workers over salary delay Dennis Naku

PORT HARCOURT

ivers State Governor Chibuike Amaechi has apologised to civil servants in the state over delayed salary payment. Amaechi, who traced the delay to the Peoples Democratic Party, PDP-led Federal Government, however, as-

sured of timely salaries for workers henceforth with the incoming central government. The governor was reacting to PDP’s comment that he owed Rivers civil servants salaries. But in a statement signed by Commissioner for Information and Communications, Mrs. Ibim Semenitari,

Rig explosion: Bayelsa communities seek compensation ome Bayelsa State communities, who claimed to be victims of the January 2012 rig explosion at Chevron’s oilfields, have called on government to compel the oil company to compensate them. Prince George Ibobra, a community leader in Koluama, one of the affected communities, made the call yesterday in an interview with the News Agency of Nigeria, NAN, in Yenagoa.

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as the fire that lasted over a month wiped them out. The weeds on the ocean floor, where fishes fed and bred, were also destroyed. “The sea weeds were contaminated by the hazardous materials used to contain the blowout and our fishermen now catch the weeds instead of fishes. “We call on government to prevail on Chevron to compensate us so as to maintain existing peace in the area.’’

Ibobra noted that when the incident occurred, government promised the communities some assistance. He said the communities were still hopeful that President Goodluck Jonathan would redeem his pledges to them on the issue before he leaves office. Meanwhile, the company has said that there is no basis for payment of compensation for the January 2012 rig explosion off Bayelsa coastline.

the governor described the allegation as falsehood. The statement reads: “The PDP mismanagement of the national revenue and elevation of corruption to national religion is responsible for dwindling federal allocation. “Recently, the Federal Government had to withhold allocations meant for states, Rivers being one of such unfortunate states.” It said the allegation was meant to dwindle the cordial relationship existing between Rivers government and the workers. “We find it ridiculous that PDP and Mr. Nyesom Wike’s media managers show lots of mischief and deliberate distortion of facts. We thought that if they lied during campaigns and electioneering, with election over, they would switch over to basic media style of information sourcing, verification and analysis.”

The governor ‎wondered where PDP got its information that Rivers civil servants were being owed backlog of salaries, stressing that it was PDP that owes Rivers people the return of its revenue allegedly diverted by the Federal Government to other states, as the millions Amaechi spent to fix federal roads in the state. “Governor Chibuike Amaechi has paid civil servants up to March with plans to commence payment for April. “Amaechi has committed himself to the welfare of Rivers civil servants these past seven years and exemplified this by regular payment of salaries despite dwindling national revenue. “Rivers is among five or fewer states of the federation that have been able to keep up with salary payments in the face of empty federal coffers,” the statement said.

Monday, May 4, 2015

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Politics

Assembly polls: Ondo APC APCAG lauds Ojudu candidates head for tribunal OLAJIDE OMOJOLOMOJU

OJO OYEWAMIDE AKURE

wo candidates of the All Progressives Congress, APC, in Ondo State have headed for the House of Assembly Election Petition Tribunal to challenge the results of the April 11 polls in their constituencies. The two candidates, Gbenga Edema, for Ilaje constituency II and Festus Aregbesola, for Akure South constituency I, in two separate petitions filed by the APC counsel, Charles Titiloye, are praying the tribunal to set aside the return of the Peoples Democratic Party, PDP, candidates as winners of the election in the state constituencies. Independent National Electoral Commission, INEC, had declared Coker Malachi winner of the poll

in Ilaje constituency II, and Adesanya Kemisola in Akure South constituency I. Edema, in his petition averred that Malachi did not score the majority of lawful votes cast in the election, adding that the poll was marred with corrupt practices and non-compliance with the Electoral Act. He noted in the petition that the state Resident Electoral Commissioner, REC, Segun Agbaje, had admitted at a press conference that there were widespread violence, irregularities and subversion of the electoral process in the constituency. Edema said rather than taking concrete steps to cancel the election, the REC declared it inconclusive, alleging that the same INEC which admitted that its returning officer was forced to declare a winner

when actually the election was inconclusive thereafter turned around to present Certificate of Return to the PDP candidate. He alleged further that the mandatory use of card readers was not obeyed in areas where PDP allegedly scored 12,762 and results from the areas were forged and allocated the PDP candidate. According to him, 9,879 voters were disenfranchised in Ilaje constituency II election, and the margin between APC and PDP was 5,806 before thugs invaded the collation centre at Igbokoda and forced the returning officer to declare PDP candidate winner of the inconclusive election. He, therefore, prayed the tribunal to order a fresh poll in Ilaje constituency II since INEC had insisted that only the tribunal could reverse such returns.

In the second petition, Aregbesola claimed that he won the election with 12,239 votes as against 11,871 votes scored by Adesanya of PDP, who was declared winner of the election by INEC. He claimed that votes of one voting point that he won at Ijo Mimo High School, Akure, was not collated by INEC, adding that INEC collated results of 14 units where over-voting and inflated votes were recorded in favour of PDP candidate, thereby giving her the marginal votes of 485 above his votes and resulting in her declaration as winner of the election. The APC candidate prayed the tribunal to restore his votes which were not collated by INEC, cancel all over-voting and inflated votes recorded for PDP and declare him winner of the Akure constituency I election.

L-R: Members, Buhari Global Support Group, Hajia Zainab Magaji; group coordinator, Mr Aja N. Aja and Mr. Tony Idoko, during a news conference to express their solidarity to the president-elect in Abuja, yesterday. PHOTO: NAN

Bauchi PDP chieftain wants Mu’azu to resign EZEKIEL TITUS BAUCHI

ne-time chairman of the Bauchi State Peoples Democratic Party, PDP, Elders Advisory Committee, Alhaji Bibi Dogo, has appealed to PDP National Chairman, Ahmadu Adamu Mu’azu to tow a path of honour

and resign honorably over his inability to deliver the party in the just concluded 2015 elections. Dogo stated this at the weekend at a press conference in Bauchi, saying: “Mu’azu should be held responsible for the failure of the party he led to the elections, and his failure to deliver the party proved that

he failed as a leader. “Mu’azu pledged to deliver 24 states and the President in just concluded elections, but instead he failed to deliver even his ward to the party.” Dogo said if he fails to resign, he should be impeached in order to have credible leaders that can deliver the party in 2019.

On the N230 million state missing campaign funds, allegedly diverted by PDP national leadership, Dogo challenged the state campaign council to expose the people that diverted the money or else they will be left with no option than to investigate and expose who ever has a hand in diverting the money.

kiti State All Progressives Congress, APC, Action Group, AG, has drawn a distinction between Senator Babafemi Ojudu representing Ekiti Central senatorial district at the upper chamber of the National Assembly and the state governor, Ayodele Fayose, describing Ojudu as the light of Ekiti politics. In a release signed by APCAG spokesperson, Segun Dipe, it urged Ekiti people and well-meaning Nigerians to see the desperation in Fayose and his constant manipulation of the state-owned media to speak evil of Ojudu as the desperate act of a sinking man who has taken the latter for his nemesis. It said: “Ojudu is an apposite political leader for Ekiti while Fayose is the opposite. Ojudu is a liberator, an asset and a pro-democrat. Fayose is a prankstar, a political liability and an anti-democrat.” It noted how Ojudu had joined other human right activists to spearhead the return of the country to democracy and how he had suffered in the hands of the military juntas of Ibrahim Babangida and Sani Abacha. Dipe said: “Ojudu was arrested, tortured and detained several times during the Sani Abacha regime while Fayose on the other hand was arrested and detained for looting the same Ekiti that he is now pretending to love. He is still under watch by the the Economic and Financial crimes Commission, EFCC, for corruptly enriching himself, dipping his hands into the Ekiti till. “Ojudu is a hero of the political struggle, one of the few we have in Ekiti State. Where was Fayose then? He was busy conning people across the

globe. What was his background and who were his mentors?” APCAG added that the same Ojudu Fayose is now badmouthing had beaten him hands down in the April 2011 election for the Ekiti Central senatorial seat. Ojudu polled 67,747 running on the defunct Action Congress of Nigeria, ACN platform, while Fayose as the Labour Party, LP, candidate garnered 29,773 votes. It said: “What was Fayose’s credentials before sneaking into politics? Is it therefore not a misnomer for a Fayose to have alleged that the same Ojudu had collected N250 million for him to be impeached and using state resources and media of the state to propagate such lie? How much was Ojudu being paid when he was struggling to return Nigeria to democracy, which Fayose is now a beneficiary? How much was Ojudu paid in 2004, when he uncovered Fayose’s bloodletting rituals? How much was Ojudu paid in 2006, when he joined others to reject Fayose’s maladministration, which got him booted out of government in the first instance? All these and more are the questions that well-meaning Ekiti sons and daughters should be asking Fayose.” APC Action Group further warned those following Fayose not to get carried away by his antics and should take every pronouncement made by him with a pinch of salt, being an incurable prankster whose words and actions are not always in sync, saying: “Our position is that any peace move made by Fayose at this point without respect for the rule of law cannot hold water. Fayose’s words are one thing, his actions are another. Whatever good words he may be speaking on air is a mask for the concealment of his bad deeds.”

Politics

Monday, May 4, 2015

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Ogun guber poll grossly manipulated –Isiaka ABIODUN NEJO ADO EKITI

gun State Peoples Democratic Party, PDP, gubernatorial candidate, Gboyega Isiaka, has said that the resolve to challenge the results of the April 11 gubernatorial poll in the state was borne out of the need to defend the people’s

wish expressed in the election. Isiaka, who said he approached the election petitions tribunal in view of the gross manipulations of the electoral process in the state, contended that the poll result, as declared by Independent National Electoral Commission, INEC, was not a true reflection of the people’s

wish. INEC had returned APC candidate, Governor Ibikunle Amosun, as winner of the election. Speaking in Ado Ekiti at the weekend after a meeting of the South West leaders of the party in Ado Ekiti, the Ekiti State capital, Isiaka said: “I feel this is not the mandate given by the people

of Ogun State. So, I as an individual cannot allow it go like that. So, we must stand up to defend the position of Ogun people in the election. “Naturally, once you take a case to the tribunal, you need to be careful about what you say in public. But I think the general thing is that there is gross manipulation of the elec-

tion. “We have done our own findings in this regard and we have come to the conclusion that we are not going to allow the electoral fraud to stand. “There were a lot of cases of people using all manners of Permanent Voter Cards, PVCs, from various sources, which I am sure they will explain at the tri-

bunal. And so many other things that are contrary to the Electoral Act.” Isiaka said that his party at all levels was finding solutions to the issues that led to its poor outing in the general election including the loss of the Presidency, expressing hope that some defected members of the party would return to rebuild the party.

Group kicks against Akinjide’s suspension from PDP KEMI OLAITAN IBADAN

political group in Oyo State, Ona Ara Youth Pioneer, OAYP, has described the suspension of Minister of State, Federal Capital Territory, FCT, Oloye Olajumoke Akinjide from the Peoples Democratic Party, PDP, as laughable and nothing but a re-enactment of theatre of the absurd. OAYP, in a statement issued yesterday by its Public Relations Officer (PRO), Mr. Adisa Adekunle, raised concerns on the credibility of the leaders who purportedly suspended other leaders from a party already in hemorrhage. It will be recalled that Oyo State PDP leadership last Thursday suspended Akinjide, the senator representing Oyo Central senatorial district; Ayo Adeseun, the Chief of Staff to former Governor Adebayo AlaoAkala, Dr. Saka Balogun, among others, over what it described as anti-party ac-

tivities. But OAYP said the selfstyled PDP leaders who have reputation of losing their wards, have used style to edge out performing leaders like Alao-Akala, Seyi Makinde, Elder Oyelese, Senator Rashidi Ladoja and a host of others, insisting that the leaders are at their zero sum game again with the youth prepared to resist them vehemently. It said: “PDP has never performed so badly in any election as it came fourth in the last poll. This stigma was brought to the party by the leaders who want to run it like private business.” Adekunle the leaders hijacked the party and imposed their unpopular wards and children, who eventually lost woefully, saying: “Oloye Akinjide stood by us come rain, come sunshine in Ona Ara, we will never stand by and watch any factional leader suspend her from a party she has toiled to build to its present state.”

Administrative Secretary, INEC, Rivers State, Mr. Roy Obijuru; Resident Electoral Commissioner, Dame Gesila Khan And State Accountant, Mr. Emmanuel Ebifa, during a news conference on electoral material given to Rivers APC, In Port Harcourt at the weekend.

HENRY IYORKASE MAKURDI

enue State All Progressive Congress, APC, has taken a swipe at the clamour by the Senate President, Senator David Mark, to continue in the same portfolio beyond the 7th Assembly at the upper chamber. Benue State APC chair-

Benue APC berates Mark over underground moves to continue in office •Urges party hierarchy to make Akume Senate President man, Hon. Abba Yaro, while exchanging views with National Mirror yesterday in Makurdi on the ongoing agitation on who replaces Senator Mark in the 8th Assembly, argues

Dariye: Court fixes June 6 for hearing on PDP membership JAMES ABRAHAM JOS

Federal High Court sitting in Jos, the Plateau State capital has fixed June 6 for hearing on a suit challenging the status of former governor of the state, Joshua Dariye, as a bonafide member of the Peoples Democratic Party, PDP. The motion for notice to be served on Dariye, which has already been granted by the court is pursuant to a suit brought before it by some PDP chieftains who are claiming that Dariye is not a PDP member. Dariye, PDP and the Independent National Elec-

toral Commission, INEC as co-defendants in the suit no FHC/J/M/106/2 will explain if Dariye indeed was a bona fide member of the PDP especially as at the time of the party’s National Assembly primaries in December last year. In the suit brought in consonant with Order 6, Rule 17(1) of the Federal High Court Civil Procedure Rules 2009, the plaintiff, Nde Alexander Molwus, is contending that the second respondent, Senator Dariye, is a serving senator representing Plateau Central senatorial zone on the platform of the Labour Party, LP, and also an aspirant who participated in

the National Assembly primaries of the PDP. Molwus, a card carrying member of the PDP, participated in the said PDP primary of December 7, 2014 with Emmanuel Goar and Sati Gogwim as the other candidates, also contends further that by the electoral guidelines for primary elections of the first defendant, PDP, only a registered member of the party whose name is on the register of the party is qualified to contest the election. He charged further that the second respondent, Dariye, having not resigned his membership of the LP, was not a member of the PDP, as his name was not in the

party register, and was not qualified to contest the primary election of the party. He added that Dariye’s application for re-admission into the PDP, dated April 7, 2014 and addressed to the Plateau State PDP chairman breached several party traditions and procedures, adding that the application did not succeed before the conduct of the primary. However, as at the time of filling this report, Dariye could not be reached for comment as his phones were switched off, while his supporters are agitated and worried that this matter may portend political waterloo for their principal.

that Mark has been in the saddle in the last eight years and should give way for someone else. He said natural justice demands that when an occupant exhausts his tenure of public office, it is only logical that the person would give way for emergence of another holder to succeed him. Advocating for elevation of the Senate Minority Leader, George Akume to the exalted office of Senate President in the 8th Assembly, Yaro stressed that Akume single handedly boosted the fortunes of the party and must be adequately compensated. Yaro, Mark’s kinsman said that by all estimation, Mark’s has outlived his usefulness in the Senate, because all these years he was there, the impact of the office was not felt by his people. He challenged Mark to compare his service to the people with the Deputy Sen-

ate President, Senator Ike Ekweremadu’s, who has turned his constituency to an El Dorado to admiration of the people and a force to reckon with by all and sundry in his community. He said: “Let me clarify this for the sake of the general public, in all the 16 years Mark represented people of Benue South senatorial district, not even a feeder road is erected or constructed by him.” He added that even the Otobi water works, where Senator Mark brought President Goodluck Jonathan to commission last year, has not produced a drop of water for the people, adding that however, to people’s amazement, while there is inadequate water supply to the people in the zone, Senator Mark’s golf course has 24-hour water sprinkling on the grass in the premises, whereas the people are crying of non availability of potable water.

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Monday, May 4, 2015

Uche Chukwumerije: My father, the comrade Mirror of the moment ABDUL-WAREES A SOLANKE korewarith@yahoo.com, 08090585723 (SMS only)

BY DIKEOGU CHUKWUMERIJE rom my earliest recollections, two paintings have occupied pride of place in my father’s collections: a framed outline of the unmistakable profile of Lenin, and a full length, full color, as tall as a grown man painting of Osagyefo Dr. Kwame Nkrumah. With him, I am certain, my father was in love. They first met at Our Lady’s High School Onitsha, sometime between 1952 and 1956, when in the company of Abdel Nasser of Egypt, Nkrumah fired my father’s mind with the idea of African revolution and continental unity. Scientific socialism would not come until 1957 in Kuti Hall, when helped along by two friends at the University College Ibadan, Daddy embraced Karl Marx. These were life-changing meetings for him, as significant as 30 odd years later, when he met Jesus Christ. As an eye witness to the transformations that followed that particular encounter – the night virgils, daily devotions, Christmases spent at fasting ‘banquets’ – I can confirm what everyone who has ever met

Uche Chukwumerije says, the man didn’t half do things. So, till he died, in spite of the collapse of the USSR, and the global triumph of the Washington Consensus, and his grudging acceptance of SOME merit in market-led economic theories, he remained intuitively wary of what he termed ‘bourgeois capitalism’. And I would tease him, “Look at the house you live in, Daddy, and you call yourself a Comrade?” Those were the types of jokes that brought the brightest sparkles to his eyes. For, you see, it was not a title, at all, for him – ‘Comrade’ – for he had nothing but utter disdain for crass materialism. Once, curious about the impact of the £20 policy on him after the War, I found a moment and asked. It brought on a look of amusement, followed immediately by his rumbling laughter – “Should you not have asked if I even had a bank account in the first place?” What would he need it for? When he lived on a diet of (as I liked to call it) nuts and berries, and the occasional bottle of Stout (a lingering habit from the early days as a desk reporter in Lagos). A wardrobe full of identical plain white clothes, simple shoes, and an unbreakable habit of carrying his own bag – Uche Chukwumerije was a proud and conscientious citizen of Sparta. Not always amusing. I remember the earthmoving arguments we had before he would allow me to take a deck (cassette player) to school, with a small piece of carpet that had already been so used it was without third-hand value. In his mind,

BELIEVE ME WHEN I TELL YOU THAT IN 1966, WHEN HOSTILITIES FIRST BROKE OUT, MY FATHER WAS A RELUCTANT

BIAFRAN

these modest furnishings were proof of my developing ‘big headedness’. And in my defence I pointed out that the children of his mates brought cars to school, and lived off campus. He said, “Okay then, but I do not want any of MY children prancing around like peacocks with raised shoulders, puffed up over imaginary achievements. The future belongs to those who are so obsessed with it they forsake the pleasures of today.” You see, it was a trait he had the deepest and most sincere respect for, simplicity, and one of the primary reasons for his undying devotion to Mallam Aminu Kano, second only to Mallam’s dedication to the cause of the talakawa. For that too was something that always troubled my old man, social injustice and what he called the inequitable distribution of wealth. It didn’t start in the Senate, where he conceived bills like the Corporate Social Responsibility Bill and seriously toyed with proposing one to cap rents in Abuja. I remember our arguments in his office in the Senate, because I stood on the opposite side of the ideological divide,

arguing that capping rents and slapping CSR taxes on companies was not the best way to proceed in the 21st century; trying to drag an old socialist a bit more towards the center. And he did make adjustments, as he was always respectful of the wellargued case, but his ideological soul was constantly troubled with that singular concern – how does one make life better for the people? Not many people can boast of the same consistency, for my father was already an active socialist by 1961, when fresh out of university he plunged into groups like The Nigerian Socialist Movement and Eskor Toyo’s Socialist Workers and Farmers Party. His ideological framework – undergirded by giants like Nkrumah, Nasser, Marx, and Lenin – was, essentially, double-barreled. Politically, he was PanAfricanist. Economically, he was Marxist. Both strands of thought were linked by the prominent place given to the ideal of UNITY – the unity of African states and peoples in the first instance, and of the oppressed proletariat in the second. So, believe me when I tell you that in 1966, when hostilities first broke out, my father was a reluctant Biafran. But like I heard him say once at a family meeting, just after he had damned the collective and decided to shoulder the burden of burying his elder brother alone – “what is ours is ours, and what is mine is mine”. Dikeogu, a poet and novelist, is one of the children of the late Senator Uche Chukwumerije

Daunting challenges before Buhari YOMI OBADITAN

ome May 29th, 2015, when Muhammadu Buhari will be sworn-in as the new President of the Federal Republic of Nigeria. For discerning Nigerians, there are great and daunting challenges he will have to confront soon after his being sworn in. His victory at the polls has raised the hope of the people that the prevalent impunity and nonchalant attitude of the leaders to the perceivable negativity and lawlessness in the polity may be addressed. The Nigerian public officials and their cronies have been having their good times stealing the country blind. It is heartwarming to hear Buhari has promised to revisit the alleged missing $20 billion from the coffers of Nigerian National Petroleum Corporation (NNPC). The information coming out from the NNPC in recent times and the services being rendered to the public have made it mandatory for the Presidentelect to urgently look into the corporation and do the needful in order to reposition it for better performance. It is also on record that the World Bank’s Chief Economist for Africa, Francisco Ferreira, described NNPC’s norm as that of impunity. Global audit firm, KPMG, reported had it that between 2007 and 2009, the corporation over-billed the government by N28.5 billion in subsidy deductions. Painful enough, those that were allegedly arrested and charged to court for oil subsidies fraud were majorly

THE WIFE OF THE PRESIDENT, DAME PATIENCE JONATHAN, MIGHT HAVE PROPHETICALLY STATED THAT

BUHARI WOULD

SEND MEN TO JAIL allies and children of PDP elders. Till today, no action has been taken against them. NNPC was once rated by the Economist Intelligence Unit of the Economist of London to be “a source of corruption and national shame”. It has continued to live and act in that manner. It put its foot down that it will not be accountable to anyone. The Minister of Petroleum Resources, Mrs. Diezeani Alison-Madueke, arrogantly told off the National Assembly, got court injunction to restrain the federal lawmakers from carrying out their oversight function on the corporation. President Jonathan backed her up and wasted no time by telling the parliamentarians that they were unnecessarily overbearing on the minister. The Nigerian Extractive Industries Transparency Initiative (NEITI) reported that N4.42 billion, N3.71 billion and $1.7 billion in over-recoveries from marketers and use of expired memorandum of understanding with joint venture partners were hanging on the corporation; yet not happened. The wife of the President, Dame

Patience Jonathan, might have prophetically stated that Buhari would send men to jail, but before these human rodents are sent to gaol, effort must first of all be made to recover the stolen wealth. We are supposed to be rich enough to run our country; those that impoverished us must not be allowed to go scot-free. The Global Greenpeace campaign for deforestation by 2020 and the attitudinal change in firewood usage in food processing in the third world is being hindered by the NNPC, whose duty it is to make kerosene available. The oil industry made it so hard, if not impossible, for the ordinary man to have access to the product. The Federal Government, in a bid to finance its Transformation Ambassador of Nigeria (TAN), Governor Rauf Aregbesola of Osun State recently alleged that the proceeds from fraudulent sales of kerosene were used by the PDP to fund President Jonathan’s campaign. The Buhari government must make it a priority to build at least two refineries within a year or two, as this will close the channels through which dubious Nigerians steal our money under the guise of oil subsidies. The level of security in the nation did not just deteriorate to this level in a day; somebody must be responsible for the abysmal failure to act diligently. The urgent need to verify the cause of this insecurity will help the nation in finding lasting solution to it. It was Marcus Aurelius that stated, “Poverty is the mother of crime.” The five Northern states that are currently under the siege of Boko Haram-induced

insurgency have been struggling with poverty and chronic deficit of social welfare provisioning for a long time. There was a period desert encroachment and long famine buffeted the region. Government’s involvement in proffering solution might be limited due to lack of funds, but there are individuals that could have provided succour to ameliorate the situation who were not forthcoming. The Buhari’s government must not just get rid of the insurgency alone, but it has to also address illiteracy, child marriage, unemployment and poor farming methods. Solutions to the aforesaid would reduce, if not close the pool for the recruitment of insurgents. On the power reform launched on August 26, 2010 in Lagos, the summary of its current state the privatisation of that sector has not improved service delivery; rather members of the public are daily being subjected to unimaginable billing for services not rendered. To get Nigeria back to the right path of industrial revolution, there is need for the review of the privatisation of PHCN consummated by the Jonathan administration.. Obaditan wrote from Osogbo, Osun. 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, May 4, 2015

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

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

As Chukwumerije departs

ajor Adewale Ademoyega, in his book, ‘Why We Struck’, a memoir on the January 15, 1966 first military coup in the country, gave a brief insight into the nature of the man, Uche Chukwumerije, the Nigerian senator who succumbed to death occasioned by cancer of the lungs at an Abuja hospital last April 19 at the age of 75. He was born in 1939. Majors Chukwuma Kaduna Nzeogwu, Emmanuel Ifeajuna and Ademoyega were said to be members of the innermost caucus that planned the said coup. Ademoyega himself died on February 21, 2007 at the age of 74. He told the story of how himself and Chukwumerije went for recruitment into the Nigerian Army on November 1, 1961, attended the selection board meeting, were accepted by the Army Board, but Chukwumerije did not turn up for enlistment. He says: “There was an officer who… introduced us to other officers… Lieutenant Emmanuel Ifeajuna… He graduated in science at the University of Ibadan, joined the Army in 1960, and was commissioned the same year. Uche also graduated in Economics at the University of Ibadan; and both of them had earlier met at that premier institution… Later on, when I was alone with Uche, he expressed some misgivings about Ifeajuna being already in the Army.

He explained that during a planned agitation in their days together at the University of Ibadan, Ifeajuna deserted their group in the moment of action. He was, therefore, apprehensive that he (Ifeajuna) might do the same thing again in the event of a planned military action… “Both of us were accepted by the board, but Uche did not turn up for enlistment into the Army… Some months later, I met Uche on the streets of Lagos. ‘Why didn’t you turn up?’, I asked. Uche explained to me that he told a British professor at the University of Ibadan that he was going to join the Army for revolutionary reasons, but the professor warned him that the Army was the most conservative and least revolutionary of national institutions. This meant that Uche would be better advised to find a much more revolutionary movement outside the Army…” Therefore, the radicalism or socialist/revolutionary inclinations of the fallen economist, journalist and war propagandist par excellence, national information manager and, in his later days, a politician, had long roots. Chukwumerije, who until he passed on, was the Chairman, Senate Committee on Education, represented Abia North Senatorial District, made up of Arochukwu, Bende, Isuikwuato, Ohafia and Umunneochi council areas. He hailed from Umunneochi

THE RADICALISM OR SOCIALIST/ REVOLUTIONARY INCLINATIONS OF THE FALLEN ECONOMIST,

JOURNALIST AND WAR

PROPAGANDIST… HAD LONG ROOTS

Local Government Area. On graduating from the University of Ibadan in 1961, he had stints with the defunct West African Pilot, the old Daily Times and Radio Nigeria as a journalist, before the civil war, 1967 - 1970. As a pan- Africanist, he, in 1960, founded Pan African Volunteers, a group which had as its goal the protection of the late Patrice Lumumba, the Congolese leader who was unfortunately assassinated by rebels in the end. Chukwumerije also championed international media campaigns to facilitate the recognition of the government of Dr. Augustinho Neto of the then war torn Angola, among others. When the Nigeria civil war broke out in 1967, providence saddled him with the job of managing Biafra’s information machine - the mysterious Radio Biafra, as the chief information strategist and propagandist, with Okoko Ndem doing

ON THIS DAY May 4, 1919 Students’ demonstrations took place in Tiananmen Square in Beijing, China, protesting the Treaty of Versailles, which transferred Chinese territory to Japan. The May Fourth Movement was an anti-imperialist, cultural, and political movement which grew out of student demonstrations in Beijing on May 4, 1919, protesting the Chinese government’s weak response to the Treaty of Versailles, especially the Shandong Problem.

Letters tothe theEditor Editor Letters to

May 4, 1979 Margaret Thatcher became the first female Prime Minister of the United Kingdom. Thatcher (1925 - 2013) was a British politician and the longest-serving (1979–1990) British prime minister of the 20th century, as well as the only woman ever to have held the post. A Soviet journalist nicknamed her the “Iron Lady”, which later became associated with her uncompromising policies.

the talking. The duo churned out moral boosting news and analyses about the war that sustained the Biafran rebellion until the end of the civil war in 1970 when, according to reports, Radio Biafra was captured; and it was discovered that the ‘Radio House’ was nothing but a jeep operating from a corner of one of the rivers in the present Imo State. Chukwumerije founded Afriscope, a magazine that internationally projected his socialist and pan-African views after the civil war; and later joined politics in the Second Republic. He was with the Peoples Redemption Party (PRP), led then by the late Mallam Aminu Kano, for obvious reasons. As if caught out for information crisis management, he was appointed Information Secretary (Minister) during the botched Third Republic transition rigmarole staged by former military president, General Ibrahim Babangida (retd). That job earned him severe criticisms; and many felt it was not befitting of his ideological bent, despite the fact that he unpretentiously faced the job with all the fibre in him. But since 2003 when he joined the Senate, Chukwumerije was his vintage self in terms of commitment to duty, integrity, patriotism and comrade-like life until he finally left. He thus deserves the accolades now being poured on him since his demise.

x May 4, 2002 An EAS Airlines’ BAC 1-11-500 crashed in a suburb of Kano, Nigeria, shortly after take-off, killing more than 148 people. The jet crashed into houses on take-off from the Mallam Aminu Kano International Airport, killing 75 passengers and crew on board and about 70 more on the ground. The airline was involved in two crashes between early 2001 and May 2002; which led to the revocation of its certificate for negligence.

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Monday, May 4, 2015

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Cover

Improving Corporate Results:

Implications for investors’ confidence in capital market According to them, the market has lost over half of its value 60 per cent by the end of 2009 as the direct spill over effect of the global financial crisis on the Nigerian economy which combined with domestic banking turmoil to end an unprecedented two-year bullish run in the market. Prior to the crash, the boom period chiefly buoyed by the banking consolidation exercise and repeated capital raising exercises by the banks, had seen the NSE All Share Index, ASI, rise by 37.8 per cent in 2006 and 74.7 per cent in 2007, while market capitalisation rose by 67.5 per cent and 140.83 per cent respectively during the same period. But the bubble burst in 2008, leading to a depreciation of the ASI by 46 per cent and 34 per cent in 2008 and 2009 respectively, and the downward spiral of market capitalisation by 32 per cent and 28 per cent in 2008 and 2009 respectively. As asset prices fell on the local bourse, foreign investors took to their heels while local investors retreated to count their losses. Although the market witnessed a recovery of 58.6 per cent by market capitalisation in 2010,

As quoted firms continue to show impressive trends in their yearly investments and profitability scorecards over the past month, analysts are beginning to say that the impressive results could become a positive bait to attract more investors to the stock market if the owners of the listed entities are proactive in their brand building strategies. Udo Onyeka reports

here are indications that the Nigerian stock market in the near future would completely recover the losses it suffered in the depressive years 2008 and 2009, despite the current market outlook and become attractive again to millions of old investors that left the market after burning their investment ‘fingers’ in the turbulent years. This is in spite of the not-too-impressive performance of many stocks in the market in the past few days. Last Wednesday, April 30, stocks witnessed a weak performance with the Exchange’s All-Share Index shedding 78.96 basis points or 0.23 per cent to close at 34,050.92 basis points, following share price depreciation

by 28 stocks. The market capitalisation also dipped marginally, falling by N27bn or 0.23 per cent from N11.599 trn to N11.572 trn. At the close of trading, on April 25, the market capitalisation dropped by N88bn or 0.75 per cent to close at N11.663trn, down from N11.751trn. Also, the NSE AllShare Index depreciated by 168 basis points or 0.49 per cent from 34,485.72 basis points to 34,317.72 basis points. However comparing the indices between when the equities market had peaked in March 2008 with a capitalisation of N12.6trn before crashing to a low of N6.27trn in November 2011, many analysts believe the stock market is now on its recovery path.

UDO ONYEKA, CO-ORDINATOR BUSINESS COURAGE udonyeka@gmail.com Gwarzo

Global Media Mirror Limited

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the recovery was however short-lived as the market closed 2011 with a decline of 19 per cent. In 2012 the market set on another recovery journey. In that year Nigerian bourse posted a growth of 37 per cent, while the ASI closed positively at 35 per cent. Market capitalisation closed at N10.60trn on April 26, 2012, representing a 50 per cent rise of N3.5trn over its value of N7.1trn a year ago, owing to reforms and stringent supervision. In 2013 the market had continued on a path of growth, though it was gradual as foreign investors stayed away and many domestic, mostly retail investors whose fingers were burnt during the 2008and 2009 financial meltdown are yet to overcome the trauma. Currently performance of the market so far, coupled with the stellar results posted by quoted companies, in 2014 full year and 2015 first quarter have continued to pushed the market forward. While the market has recorded a growth of over 10 per cent by market capitalisation this year, weighed against the same period last year, the market has advanced by about 20 per cent as at December 2014. Many financial experts believe that the market has responded to 2014 full-year results, beginning with the banks. In the build-up to the release of results, prices rose significantly as investors took positions in anticipation of good returns, but the rise soon abated due to profit taking. Analysts however expect the market to continue to trade “sideways” in the following weeks as investors respond to earnings results and corporate actions. Already, some first quarter results show a continuing rising trend in both income and profit. Ecobank Transnational Incorporated, ETI, has informed the management and stockbrokers of The NSE in its first quarter ended March 31, 2015, that its profit after tax grew by 64.04 percent from N14.92bn

Monday, May 4, 2015

of the 2014 financial year. It also recorded a 36 per cent growth in PBT to N18.4bn as at March 2015 compared with N13.5bn as at March 2014. PAT also increased by 35 per cent to N17bn from N12.6bn within the same period. Guaranty Trust Bank, GT Bank said its 17 per cent growth in gross earnings to N79.02bn, from N67.58bn recorded in the comparative period of 2014. It a also announced a PBT of N32.65bn , which was an increase of 17 per cent over the N28.01bn it reported in Q1 2014 as well as a PAT of N26.56bn , an increase of 15 per cent over the N23.11bn reported in Q1 2014. Wema Bank was one of the quoted companies that made profit in the first quarter of 2015. According to the bank’s published unaudited Q1 2015 financial results, gross earnings increased by five per cent to close at N10.63bn compared with

Oscar Onyema, DG NSE

to N24.48bn reported in the comparable period of 2014. The bank posted a gross earnings of N136.22bn from N109.84bn, representing an increase of 24 per cent. Operating income rose by 21 percent from N104.79bn from N86.29bn, while net interest income which was N44.63bn in 2014, rose to N54.24bn. First Bank of Nigeria, FBN, Holdings Plc, announced a 23.5 per cent rise in gross earnings to N126.8bn from the N102.6bn recorded in the same period in 2014. The bank also announced that Profit before Tax, PBT, increased by 8.7 per cent to N26.9bn from the N24.8bn reported for the comparative period last year, while Profit After Tax, PAT, rose by 4.9 per cent to N22.6bn from the N21.6bn recorded in the same period last year. Similarly, Zenith Bank reported in its three months ended March 31 2015 a 20.1 per cent increase in gross earnings to N113.3bn from the N94.3bn recorded in the comparative period in 2014. The bank also reported 15 per cent increase in PBT to N33.1bn

Business Courage

from the N28.9bn recorded in the first quarter of 2014, as well as a 17 per cent increase in PAT to N27.6bn from the N23.6bn recorded in the same period last year. Access Bank in its audited Q1 2015 results, reported that net interest income grew by 17 per cent to N46.4bn from N39.6bn in Q1 2014. It reported gross earnings of N76.7bn for its first quarter ended March 31, 2015, representing 34 per cent increase over N57.3bn posted in the same period in 2014 In the same vein Sterling Bank, a leading second tier bank, reported a PAT of N3.9bn for the period, showing an increase of 25 per cent from the N3.1bn recorded in the corresponding period of 2014. According to the bank, its PBT rose by 14.1 per cent from the N3.5bnto N4.0bn, while noninterest income grew by 31.9 per cent from N6.1bn to N8bn. For United Bank for Africa, UBA, it recorded a 22 per cent growth in gross earnings to N83.1bn as at March 2015 from a comparative figure of N68.1bn made in the first three months

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the N10.16bn recorded in the same period last year, while PBT and PAT increased by four per cent each to close at N615m and N522mrespectively. Fidelity Bank firstquarter pre-tax profit rose 5.6 percent to 4.71bn, from year ago. Its gross earnings climbed to N34.82bn compared with N30.95bn same period last year, while Nigeria’s First City Monument Bank ,FCMB, first quarter pre-tax profit rose 3.5 percent to N5.76bn from a year ago after it increased interest income, the lender said. Also, FCMB said in a statement that gross earnings climbed 16.2 percent during the three-month period to N39.28bn. However there are some companies that recorded drop in the 2015 first quarter profit. Stanbic IBTC reported a drop in profit for the period. The bank’s PBT fell by 46 per cent to N4.8bn Continued on pg A4

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Business Courage

Monday, May 4, 2015

Continued from pg A3

News Lagos govt charges cab operators on licence By Adejuwon Osunnuyi

Afolayan

compared to the N9bn recorded in the same period last year. Other companies that recorded drop in their period during the period under review include: Union Bank which reported a 51 percent drop in first quarter pre-tax profit to N2.49bn naira from a year ago, when results were driven by one-off gains from divestment of subsidiaries in 2014, it said. The bank said adjusted pretax profit without the one-off gain on disposal of subsidiaries more than doubled to N2.7bn during the period, compared with N1.3bn in the first quarter of 2014. Dangote Sugar also announced first quarter pre-tax profit dropped 51.9 percent to N3.79bn compared with the same period last year. Revenue also fell to N22.52bn in the period to end-March against N25.88bn last year; the company said in a statement. Also Transnational Corporation Nigeria said its first quarter pre-tax profit fell by 31.6 percent to N2.57bn from a year ago. Revenue also fell to N9.99bn in the period to endMarch against N10.53bn a year ago, the company said. However Cadbury Nigeria posted a first-quarter loss of N303m compared with N1.15bn naira profit a year ago. Revenues at the food and confectionery maker declined 3 percent during the period to N6.73bn, it said in a statement. According to Director-General of Securities and Exchange Commission, Mr Mounir Gwarzo financial sector regulators are doing their best to see that the capital market completely bounces back. He said the reforms have brought about positive changes. He said that when companies are properly supervised they would be managed very well and make profit and investors would be attracted to invest in them. Gwarzo who said in Lagos recently that there was no going back in the deadline for recapitalisation of stock market operators ,however said he was happy the way “we are

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receiving responses from all the capital market operators,’’ Garzo said. Managing Director, Securities Africa Financial Limited, Mr. Folabi Afolayan, said the market still suffers from confidence issues within the domestic sector. “We need increased level of domestic participation to improve the volume of trades and to contain the high volatility currently being experienced in the market. He said that other challenges facing the sector include the issue of brokerage commission which continues to be squeezed as stockbrokers pursue limited clients for business as well as the increase in regulatory costs of doing business, ‘which is like a double jeopardy’. According to him even though it would be right to say that the market is responding positively awareness is still low. “Awareness of the benefits of the capital market and traded securities is quite low in Nigeria even amongst those you expect should know when you compare with more developed markets. “If you measure the NSE market penetration, measured as a ratio of turnover to GDP. It is estimated at 1.67 per cent, which is dismal, compared to a country like Kenya which has 4.08 per cent market penetration. “To solve the issue of awareness, the market needs to make a concerted effort by both operators and the regulators. The regulators, SEC & NSE have tried to address this recently with increased educational efforts, collaboration with Nollywood and by reaching out to ordinary Nigerians, but I think these efforts can even be more strategic. “We probably need to engage policymakers to make financial literacy, especially knowledge of the capital market, a compulsory part of the school curriculum right from the primary school level. This is a medium term strategy but should improve awareness”, Afolayan said. BC

n its determination to transform the taxi sector, the Lagos State Government has called on all accredited Taxi Cab operators who are yet to obtain their Taxi Cab Licence to immediately collect them at the Vehicle Inspection Service, VIS, zone where they were accredited. Commissioner for Transportation, Comrade Kayode Opeifa, who said this in his office at Alausa, Ikeja, added that the designated collection points for the taxi cab Licence were decentralized in order to reduce the stress which the operators might go through during the collection process. He added that the operators could visit any of the following 14 VIS zones for the collection of their Licenses. These zones according to him are, Onigbogbo (Anthony), Apapa, Iponri, Isheri, Ikorodu, Mushin, Ejigbo, Mile 2, PWD, Oko-Oba, Epe, Adekunle, Eti-Osa and Badagry. Opeifa reminded the operators not to hesitate in collecting the licence as only the licence holders would be able to operate taxi cab in the state, adding that the licence would enable the taxi cab operators to be fully integrated with the New Lagos Taxi System. The Commissioner appealed to the operators to keep their licences in a safer place after collecting them. It would be recalled that Governor Babatunde Raji Fashola, SAN had launched the New Lagos Taxi System and flagged off the distribution of Taxi Licence to operators on Thursday, 23rd April, 2015. While flagging off the new taxi system in lagos to be known as Mega Taxi, Fashola had described the system which would have all taxis and public transport operators in the state registered and monitored, as a step forward in the improvement of public safety. The total databank of taxi registry will include 12,617 drivers and 10,882 vehicles. “Across many parts of the world today, one of the safest places citizens and residents

Fashola

can be, is in the taxis that operate in their city,” Fashola said. “The reason for this is simple. Those who run the taxi system are not anonymous, they are all known. From small companies to individual owners, everybody is registered. At this time of global and national security challenge, our state refuses to lag behind.

central body has an idea of what is happening to branches under them. “So they should be able to articulate their challenges and it will help the government to genuinely meet the needs of workers,’’ Abubarkar advised.

Workers chart roadmap to cordial industrial relations

igerian workers have suggested that the best way to avoid persistent strikes and ensure industrial harmony is for the government to implement mutual agreements reached with labour. The workers made their views known on the occasion of the celebration of the 2015 Workers Day on Friday in Abuja. In separate interviews with the News Agency of Nigeria ,NAN, the respondents advised the incoming government to avoid unnecessary acrimony with workers and initiate moves to improve on industrial harmony. For instance, Dr Ador Leku, the National Vice President, Senior Staff Association of Nigerian Universities, SSANU, advised the incoming government to improve funding of universities and meet pending agreements with past governments. “We are a very disciplined union and we believe in dialogue. It is only when dialogue fails that we resort to another weapon, which is strike. “Currently, there are a lot of issues - university funding and allowances not paid. We have made our submissions to the Federal Government and we want the Federal Government to pay our allowances. “Since government assets and liabilities are continuous, we appeal to the incoming government to pay our outstanding allowances so that there will be peace and harmony,’’ he said. Similarly, A member of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Mustapha Abubakar, advised the incoming government to meet with the leadership of the workers’ union to fashion out ways of preventing industrial disharmony. “The incoming government should sit down with the two main unions we have in the country (NLC and TUC) and articulate all the problems of the labour movement and see how we can have a smooth ride. “The difference varies from one sector to another but the

Suswam

TUC seeks salaries payment before Suswam ends tenure

he Chairman, Trade Union Congress, TUC , Benue chapter, Comrade Ordue Tartenger, has appealed to Gov. Gabriel Suswam to clear the three months salary arrears owed state workers before leaving office on May 29. Tartenger made appeal on the Workers Day celebration in Makurdi. He lamented that the administration of Suswam massively owed workers and pensioners arrears of their salaries and other legitimate entitlements. According to him, this has brought untold hardship on them leading them into destitution. ``At present , Benue workers can no longer meet up their daily financial needs due to non-payment of salaries and gross deductions at the time payments were stopped,`` he said. Ordue requested immediate stoppage and return of deductions made from the monthly salaries of civil servants in the state in the name of donations, contributions and levies which they did not assent to. He called on the outgoing administration of Suswam to pay workers the arrears of their leave grant from 2012 to 2015. Suswam, represented at the ceremony by the Permanent Secretary, Benue Civil Service Commission, Mr Adaikwu Inwata reaffirmed his government’s commitment to the workers welfare. He described his government as ``most worker-friendly`` since the birth of democracy in Nigeria, noting that the state civil servants had enjoyed the biggest salary package since he assumed office some years ago. The governor said that sal-

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Business Courage

Monday, May 4, 2015

ary and pension payments fell into arrears due to the current economic downturn in the country. He said that he was grateful that the workers heeded his appeal leading to deduction of their salaries, adding that it had helped the government to record some economic stability and pay wages of primary school teachers.

Civil Society groups call for better conditions for Nigerian workers

ivil Rights Groups in Nigeria on Friday called for the sanitization of the Nigeria’s Labour market as the to ensure better conditions for wokers. Speaking on the plight of Nigerian workers, the Lagos State Chairman of the Civil Liberties Organisation (CLO) Mr Ehi Omokhuale said that there was the need for the incoming administration to ensure better conditions for workers. “The expectations are very high. Nigerian workers have been at the mercy of bad governance with many states refusing to implement the minimum wage. “The incoming administration should make the minimum wage a State Policy and ensure that all states implement it” Omokuale told the News Agency of Nigeria (NAN) in a telephone interview. He said that there was no reason for any state not to pay the minimum wage. “There is the need for governments to reduce political offices and its unnecessary attachments to make sure that workers are well taken care of” he said. Also speaking, the Executive Chairman of the Coalition Against Corrupt Leaders, CACOL, Mr Debo Adeniran blamed the plight of Nigerian workers on the nation’s nosediving economy. “The incoming government as a matter of priority should declare economic emergency in order to remove unnecessary

Adeniran

A5 21

needs. A Director of the bank and an indigene of the town, Rev. Fr. Dr. Anthony Igwe, expressed happiness that the bank has opened operations in the area and urged his kinsmen not to embrace the bank. UP MfB disbursed about N1.13bn to 5,395 active poor in its 2014 financial year end. N659.7m, representing 58.32 percent of the total facility was given to the active poor as micro loans, while a total of N367.7m measuring 32.51 percent of the total N1.13bn was given as other loans. L – R: Saxophonist, Mr. Yemi Sax; Jazz Ambassadors, Mr. Bobby Ricketts; Executive Director, Business Development, The Nigerian Stock Exchange (NSE), Mr. Haruna Jalo-Waziri; Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo; Co-Chairman, Satchmo’s Jazz Festival Committee, Mr. Akin Ogunbiyi ; Satchmo’s Jazz Festival Director, Mr. Dolapo Ajayi and Head, Corporate Services Division, NSE, Mr. Bola Adeeko at the Closing Gong Ceremony in commemoration of International Jazz Day at The NSE

and irrelevant projects affecting wages in the country. “The incoming administration should take an inventory of the nation’s workforce to ensure optimal production from the workers and better remuneration. “The salary of most average Nigerian workers cannot satisfy their immediate needs which should not be so” he said. Adeniran called for the creation of more jobs through the establishment of more industries and institutions. He said that there was a need to establish a friendly environment for businesses to thrive in the nation so as to avoid bloated workforce in the country. “The private sector when empowered will plough back into the system to assist governments in taking care of its workforce” he said. The CACOL Chairman, however, warned state governments against non payment of workers’ salary, insisting that there was no justification for that.

Minimum Wage: Workers urge incoming administration on full implementation

igerian workers appealed to the incoming government of Maj.-Gen. Muhammadu Buhari ,rtd, to device a means of improving the welfare of workers so as to engender industrial harmony. Speaking with the News Agency of Nigeria ,NAN, in separate interviews on Friday in Abuja, the respondents decried the fact the minimum wage still remained N18, 000 as in spite of the harsh economic condition in the country. They advised the incoming government to institute an automatic minimum wage review mechanism in line with realities. In his comments, Mr Bala

Hadi, the National President, Parliamentary Staff Association of Nigeria (PASAN), advised the government to take the welfare of workers more seriously to win their support. He expressed displeasure that government workers had not received their April salary, even as the May day was being celebrated. ``You can see that workers are out in large numbers to celebrate May Day; but it is regrettable that most government workers have not received their April salary, and this is not acceptable. ``Already, the welfare of Nigerian workers is very poor when compared to their contribution to nation- building; they are grossly underpaid.” He said that the N18,000 minimum wage was long overdue for an upward review and advised the incoming government to address the issue. ``The minimum wage of N18,000 is long overdue for review and since the present government will soon leave office, I advise the new government to do that as a matter of urgency. ``The new government should initiate a living wage to ensure that workers are able to meet their personal needs and those of their family members. ``Our expectation is that the government will initiate a mechanism to ensure an automatic, periodic review of salaries so that distractions like strikes can be avoided,” Hadi said. Mr . Julius Ada, a member of the Construction Workers’ Union, advised the government to improve the plight of construction workers in the country.

UP MfB partners Enugu on loan disbursement

n Enugu-based Microfinance Bank, Umuchinemere Pro-credit ,UP, MfB said it is collaborating with the

Enugu State government and the Central Bank of Nigeria ,CBN, to access and serve as disbursing agent of the N220bn Micro, Small and Medium Enterprises ,MSME, Development Fund. The Fund, domiciled in the CBN, was launched last year by the Federal Government to assist micro, small and medium scale entrepreneurs to enhance their businesses and improve their economic status and well being. The bank said it was planning to access the fund through the state government, in order to disburse it to entrepreneurs, traders, market men and women, among others, who need the fund to expand their businesses in Enugu State, thereby employing more unemployed Nigerians, thus, contributing to economic growth and development. The Head of Credit, UPMfB, Mr. Odinaka Okeke, said UP MfB is targeting a total facility disbursement of N1.5billion in the current year, 2015. However, the bank, last October, opened operations at Old Ozalla Junction, Ozalla in the Nkanu West local government area of Enugu State. The bank pointed out that the opening of the office was a continuation of the bank’s extension of microfinance banking services and products to the grassroots, which desire and deserve micro finances to improve their quality of life. Speaking at the opening ceremony, chairman of the bank, Msgr. Obiora Ike enjoined the people of Ozalla and environs to avail themselves of the microfinancing opportunities provided by UPMfB which are now easily accessible to them. The Managing Director, UP MfB, Mrs. Nnenna Ekete, said the bank commences operations between Mondays to Fridays and that the office was basically established there to bring banking services closer to them to meet their financial

Ogbonnaya

FCMB grants MSMEs N122m loans

irst City Monument Bank Limited,FCMB, has disbursed N122m to Micro, Small and Medium Enterprises,MSMEs, in the country as part of its commitment to the sector. Some of the beneficiaries of the loans are; Health Products and Farms Limited. Lagos, Midows Limited, Lagos, Everlasting Hands Limited, Kaduna and God’s Will Technical Services Limited, Ogun State. The bank promised to further disburse more to small and medium businesses in the country. The bank was one of the bank licenced by the Central Bank of Nigeria,CBN, to disburse part of its N220bn MSME Development Fund. MSMEs, the bank said, play a critical role in the economy, accounting for approximately 17 million micro businesses and two million SMEs, both contributing about 33 million jobs in the country. It, however, noted that the SMEs were facing major constraints in accessing finance. The bank said its increasing support for the SMEs was in line with its value in driving national economic growth. The Group Head, Business Banking, FCMB, Mr. George Ogbonnaya, said the lender had realised the critical roles the SMEs could play in the growth of the economy. BC

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Companies & Markets

Standard Assurance General, SA Life Merge

L-R: Executive Director, Marketing Services, Nestle Nigeria, Mrs. Iquo Ukoh; Chief Host, SpidNetworking, Mrs. Clara Ogunsemi; Executive Director, Lagos and South West Bank, Fidelity Bank Plc., Mr. IK Mbagwu and Divisional Head, MSME, Fidelity Bank Plc, Ken Opara at FidelitySpidNetworking forum held recently in Lagos.

Lafarge Africa records N8.6bn profit in Q1, 2015 By Udo Onyeka

afarge Africa has Announced A Profit After Tax Of N8.621bn For The First Quarter Ended March 31, 2015 A 20 Per Cent Rise When Compared To Its Profit Of N7.202bn In The Same Period 2014. Chairman, Board Of Directors, Mr. Olusegun Osunkeye; Said That The Company Has Delivered A Good Performance In Spite Of The General Elections And Market Uncertainty. The Cement Industry Which Has Experienced An Immense Growth Over The Past Few Years Saw Lafarge Africa Record A Revenue Of N57bn In The First Quarter Of 2015, Which Is 15 Per Cent Higher Than The Preceding Year Of A Little Over N48 Billion. Group Managing Director Of The Company, Mr. Guillaume Roux, Said That The Company Achieved Stability In Its Operations,

Marked By Solid Performance. According To Him, The Consolidation Of Our Businesses And Expansion Projects Presents An Excellent Foundation For Future Growth. “Our Management Team Is Fully Mobilized To Deliver Operational Excellence Whilst Also Leveraging On The Strength Of The Lafarge Group,’’ He Said. Osunkeye Noted That The Company Expanded In The Quarter To Commence Aggregate Business In The Country Through A Nigerian Ready Mix Business. He Explained That It Is A Remarkable Step For The Company In Achieving Its Objectives Of Delivering Innovative And Quality Building Solutions. The Statement Released Said That The Board Of Directors Of The Company Granted Approval For A Mandatory Tender Offer To All Qualifying Shareholders Of Ashaka Cement Plc In 2014. “Consequently, The Tender Offer Is Now Concluded And Regula-

tory Approval Has Been Obtained For The Approval Of The Shares Transferred”. Lafarge Africa Ownership Stake In Ashaka Cement Has Increased To 82.46 Per Cent From 58.61 Per Cent. We Expect Final Regulatory Approval In The Coming Weeks. Mr. Guillaume Roux Pointed Out That Unicem Had A Strong Operational Performance, With Very Solid Volumes And The Company Generated The Strongest Profit Margin In The Group. However, He Added, The Operation Was Affected By The Devaluation Of The Naira, Which Resulted In N8.0bn Unrealized Exchange Losses, Posted In The First Quarter. Mr. Guillaume Roux Added That The Company Expects Cement Demand To Increase In Both Nigeria And South Africa In 2015, Arising From Increasing Needs For Housing And Infrastructures In Nigeria And The Presence Of Cash Flow From South Africa. BC

ollowing A Deliberate And Strategic Decision To Play A Leading Role In The Nation’s Insurance Sector, The Boards Of SA Insurance Plc And SA Life Assurance Limited Have Approved The Merger Of Both Companies To Form A Frontline Composite Insurance Company. According To The Organisations’ Spokesman, Mr. Nelson Egboboh Who Disclosed This To Our Correspondent In Lagos, The Boards’ Corporate Decision Of Combining The Existing Strengths Of Both Companies Was Spurred By Their Desire To “Create A Bigger And Financially Strong Composite Insurance Company With Stronger Capacity To Serve Its Various Clients And Play A More Dominant Role In The Insurance Sector.” He Disclosed That The Corporate Action Was Further Being Taken With A Focus On “Delivering Superior Returns To The Shareholders, Provide Much Higher Level Of Satisfactory Service To Our Clients And To Save Cost Of Operations.” He Explained That To Give The Merger Plan The Necessary Regulatory Backing, “The Management Has Applied For And Secured A “No Objection Consent” From The National Insurance Commission, NAICOM,” Noting Further That In

Egboboh

Line With Market Procedures And Pursuant To Rule 228 (Ii) Of The Investment And Securities Act 1999, The Management Has Also Notified The Nigerian Stock Exchange Of The Development. He Noted That The Companies Are Engaging The Services Of Appropriate Financial And Merger Experts To Drive The Transactions, Stating That “It Is Our Plan To Complete The Process Before The End Of The Third Quarter Of This Year.” Egboboh Assured That “The Composite Company To Emerge Will Continue To Build On The Success Of The Transaction In The Months To Come, Providing More Innovative Products And Delivering On Its Promises To Clients,” Noting That “With The Company’s Formidable Management Team As Well As Its Professional And Result-Oriented Workforce, The Company Was Sure Of Achieving Its Set Merger Goals.” He Explained That SA Insurance Plc Which Became Quoted On The Nigerian Stock Exchange In 2003 Currently Has A Shareholders’ Funds Of N4.7bn And Asset Base Of N8.8bn While Its Affiliate Company, SA Life Assurance Limited Has A Shareholders’ Fund Of N2.1bn And A Total Asset Base Of N6.9bn. According To Him, “With A Combined Asset Base Of N15.7bn After Merger And A Joint Gross Production Of N8.41bn Achieved As At 31st December, 2013, The Future Could Only Be Better For The Organisation And Its Clients As The Company Would Be In A Much Superior Position Of Strength To Play Dominantly To Attract A Higher Percentage Market-Share And To Further Respond To Claims’ Issues Much Faster Than We Have Been Doing Before Now.” BC

SIFAX Group joins MNM African Shipping, targets non-oil exports By Francis Ezem

NM African Shipping Lines Services has appointed the SIFAX Group, a fully Nigerian company with interest in maritime and shipping, aviation and oil and gas operations its representative in Nigeria to handle its shipments comprising both imports and exports in the largest economy in the African continent. SIFAX Group is also a parent company to Ports and Cargo Handling Services Limited, which is the concessionaire in charge of terminal C of the Tin Can Island Ports Complex, Apapa. Managing director of the group, Mr. Marcus Brickman,

who spoke with some newsmen in Lagos during a media parley, disclosed that the MNM remains the only privately owned shipping line in the whole of the African continent.

Ofulue

He disclosed that the shipping line, which has two vessels on its fleet for now is concluding plans for the reception of one of the vessels, Orient Spirit, which is expected to arrive Nigeria May 8, 2015. “We are starting on a small scale but we hope to connect Lagos Nigeria with other seaports in Africa because we are taking off with initial coverage from Barcelona to Morocco and we also plan a bi=weekly service”, Brickman said emphatically. According to him, the Group in accepting the appointment is conscious of the huge competition in Nigeria’s import segment, but also disclosed that the company is working towards develop-

ing and carving a niche for itself in the non-oil commodity export segment, which he said has huge potential. He disclosed that with the current efforts of the government reposition the agricultural sector of the economy, given the uncertainties in the global oil market with the attendant slash in the price of the black gold, the company is optimistic that there would be boom in the production of agricultural products. He also said: “Though we are very aware and conscious of the huge competition in the import segment, we plan to approach the market with our premium services to beat this competition”. It was gathered that as part of

measures to capture the export market in the country, the Group is currently talking with some cocoa producers, Sesame Seed producers and also Okonmu Oil based in Edo State and Cashew Nut producers to a view to lifting their export products. Investigations also showed that the company plans to provide premium services such cargo consolidation, haulage service and provision of some facilities such as transit for perishable goods. On the investment profile so far, the Group managing director, who declined to mention the amount invested, however said that huge investments had been made, even as much more would be made in the coming months. BC

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Companies & Markets Shareholders endorse Sterling Bank’s dividend By Johnson Okanlawon

hareholders of Sterling Bank have approved a dividend of six kobo for every share of 50 kobo of the bank for the financial year ended December 31, 2014 even as the bank assured of steady growth in profitability and expansion. The National Coordinator, Independent Shareholders Association of Nigeria, ISAN, Mr. Sunny Nwosu who commended the bank for the dividend pay-out, said the shareholders were appreciative of the efforts which the staff and management put in place to drive the bank for increased returns on investment. The chairman, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie also applauded the account performance of the bank. “The economy where you are operating is tough but you still give us dividend, this shows that the bank has good policy for dividend. The current leadership has proved that they are capable of driving the bank to great height and we commend the bank for the wisdom not to bid for acquisition of nationalized bank,” he said. Addressing shareholders at the 53rd Annual General Meeting, Chairman of the company, Mr. Asue Ighodalo said the bank is build on a strong platform geared towards improving the lives of young people in the society whilst also improving the communities in which it operates and the environment at large. “We took deliberate steps to launch bold activities, in the education sector, entrepreneurial schemes, staff volunteering programmes and programmes aimed

at improving the environment through partnership with various state governments. Our bank remains firm in its commitment to the CBN ‘s sustainable banking principles,” he said. Ighodalo noted that the blurring business outlook presents an opportunity for the bank to navigate its growth by innovative means. He said with a stronger capital position, the bank will provide the fulcrum to expand and deepen its foothold in its target business sector and thus sustain superior returns to its esteem shareholders. Sterling sustained its resilient performance in 2014 as top-line and bottom-line earnings showed considerable growths with gross earnings rising by 13 per cent to N103.7bn. Also, profit before tax rose 15.4 per cent to N10.7bn. Key extracts of the audited report and accounts of the bank for the year ended December 31, 2014 presented to the Nigerian Stock Exchange showed appreciable growths in all key performance indices, sustaining the strong performance outlook of the lender in spite of industry-wide regulatory headwinds. BC

Ighodalo

Financial planning essential in the prevailing economic realities –Oyebola By Udo Onyeka

anaging Director/ Chief Investment Officer of FBN Capital Asset Management, Michael Oyebola, has underscored the importance of personal financial planning in the face of the prevailing economic realities. He made this known as part of a presentation entitled “Beyond Editing: Investing for a Secure Future” during the 2015 edition of the Biennial Convention of the Nigerian Guild of Editors, in Lagos recently. Speaking at the event, Mr. Oyebola said “In recent times a number of events have occurred both locally and globally that have reinforced the value of personal financial planning from the drop in oil prices to the fluctuations in the exchange

Oyebola

rate of the Naira. At every stage in life it is essential to remember the importance of financial planning as a means to a secure future during and after one’s career journey”. He went further to stress the importance of distinguishing between assets and liabilities while gauging spending habits with respect to income.

Oyebola also noted that while earning an income and saving have their place in building a healthy financial future, it is essential to invest. He highlighted the various classes of investments that people could commit their funds based on what their goals are, how long they are looking at achieving those financial goals, how much they can conveniently afford to put aside, and how much risk they are prepared to take in relation to the returns on their investment. “Professional asset managers, like FBN Capital Asset Management, use their skills to manage customers’ money to achieve a desired outcome. I like to say that through our mutual fund products, we can people grow their dreams and achieve their goals” he said. BC

Greenoaks grants N3.7bn capital to Union Assurance

reenoaks Global Holdings Limited has injected N3.7 billion capital to Union Assurance Company Plc as part of its support to insurance growth in the country According to Union Assurance Company Plc the additional capital injection, N3.7bn from Greenoaks Global Holdings Limited, is part of a move to transform the firm into a formidable player in the Nigerian insurance industry A statement obtained from the firm on Sunday said Greenoaks Global successfully acquired Union Assurance from Union Bank of Nigeria Plc for N7bn late

last year. The Chief Financial Officer, Union Assurance, Mr. Segun Adesanya, said that the additional capital injection would enable the company to operate beyond the stipulated solvency margin provided by the National Insurance Commission and make it better positioned to execute improved underwriting services. “Our company is consequently undergoing a transformation exercise. This exercise includes the upgrade of our information technology platform to which we have committed N150m; new products; proposed unveiling of our new corporate identity;

brand new offices across Lagos, Abuja and Port Harcourt as well as the attraction of additional talented and experienced personnel,” he stated. It stated that Union Assurance recently re-constituted its board of directors with the pioneer Chief Executive Officer and co-founder of Guaranty Trust Bank Plc, Mr. Fola Adeola, emerging as the chairman. “Greenoaks Global Holdings is fast becoming a major player in the insurance markets in emerging economies having also recently completed the acquisitions in Rwanda and Pakistan,” the company stated. BC

Law Union & Rock to deepen insurance acceptance

aw Union and Rock Insurance Plc has promised to deepen insurance acceptance in the country through rolling out of innovative products and services that meets the yearning and aspirations of the people. The Managing Director of the company, Mr Jide Orimoladen, who made the disclosure in Lagos, stressed that the interest of Nigerians in insurance was low, in spite of the huge potential of the insurance sector. Orimoladen stated that his firm would expand its microinsurance unit and develop policies to meet the needs of the micro-segment of the economy. “This step was also to support the Market Development and Restructuring Initiative of the National Insurance Commission, NAICOM, to drive insurance to the grassroots. According to him, “We have

already started our micro-insurance unit with its product and channel development initiatives. “But in this realm, we are expanding the unit to develop more innovative products, which would be launched soon.” Orimoladen stressed that micro-insurance had potential to significantly improve the lives of the world’s poorest people and positively impact the development of the informal sector. “A good instrument brings the poor into the conventional financial system and at the same time improves their wellbeing to give them a better standard of living,” he stressed. Micro-insurance, if well harnessed, he said, would increase the contribution of the insurance sector to the Gross Domestic Product. “As at now, its contribution is less than one per cent, we are

hopeful it will shoot up before the year ends,” he said. Speaking on the company’s performance, he said the firm posted a gross premium of N4.16bn for the year ended December 31, 2014. He said the performance also showed an increase in the company’s total assets from N6.9bn

in 2013 to N7.29bn in 2014. “The company also recorded an underwriting profit of N1.03bn for the year. Other highlights of the approved 2014 account showed that the underwriting firm made a profit before tax of N259.8m while the profit after tax stood at N125.4m,” Orimoladen said. BC

Orimoladen

Skye Bank promises uncollateralised loans to SMEs

kye Bank Plc said it may soon start granting uncollateralised loans to Small and Medium Enterprises, SMEs, in the country. To this end, it has partnered with the International Finance Corporation ,IFC, an arm of the World Bank Group to realise this aim, adding that this plan will expand lending to SMEs in Nigeria. To grant this form of loan, the partnership between the bank

and IFC is expected to produce a new lending framework that de-emphasises reliability on collateral by focusing primarily on evaluating business viability. According to the bank, “Based on this new framework, when a business passes the viability test, the bank can consider non-traditional collateral options outside real estate to reduce the difficulty faced by business owners in their bid to secure credit facilities from

banks.” Moreover, the bank said it has concluded plans to stop charging commission on turnover on all retail current accounts, well ahead of the deadline given by the Central Bank of Nigeria The Head, Retail Banking, Skye Bank, Nkolika Okoli, said the bank’s new retail strategy had necessitated a shift from product-led to a more segmentled approach. BC

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Global News Shell signs 10 billion pound bridge loan

oyal Dutch Shell has agreed a 10.07 billion pound bridge loan from a group of relationship banks backing its 47 billion pound takeover of smaller rival BG Group , the company announced on Friday. The two-year loan replaces a 3.025 billion pound interim bridge loan that was provided in early April by Bank of America Merrill Lynch. The bridge loan will be used, along with existing cash, to cover the 13.2 billion pound cash portion of the cash and share deal. Mandated lead arrangers on the financing are Banco Santander, Bank of America Merrill Lynch, Bank of TokyoMitsubishi UFJ, Barclays Bank, BNP Paribas, CIBC, Citigroup, Credit Agricole CIB, Credit Suisse, Deutsche Bank, HSBC Bank, JP Morgan, Lloyds Bank, Morgan Stanley, Royal Bank of Canada, Royal Bank of Scotland, Societe Generale, Standard Chartered and SMBC. The financing pays an initial margin of 15bp over Libor, rising to 20bp after three months, to 25bp after six months, to 30bp after nine months, to 40bp after 12 months, to 50bp after 15 months, to 60bp after 18 months and to 70bp after 21 months. There are also ticking fees of 20 percent of the applicable margin on undrawn, uncancelled amounts. Shell is rated AA- by Standard & Poor’s, Aa1 Moody’s and AA by Fitch.

BNP Paribas sentenced in $8.9 billion U.S. sanctions accord

NP Paribas SA was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9 billion (5.88 billion pounds) settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran. U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank to forfeit $8.83 billion and pay a $140 million fine as part of a sentence. The case marked the first time a global bank pleaded guilty to violations of U.S. economic sanctions, the Justice Department said. The sentencing followed BNP Paribas’ guilty plea in July to conspiring from 2004 to 2012 to violate the International Emergency Economic Powers

Act and the Trading with the Enemy Act. The sentence imposed by Schofield followed the terms of a heavily negotiated plea deal the U.S. Justice Department announced that month. The department said that during the five-year probation period, BNP would be required to enhance its compliance policies and procedures. Authorities said that BNP essentially functioned as the “central bank for the government of Sudan,” concealing its tracks and failing to cooperate when first contacted by law enforcement. Prosecutors said BNP also evaded sanctions against entities in Iran and Cuba, in part by stripping information from wire transfers so they could pass through the U.S. system without raising red flags. BNP’s sentencing had been delayed for months while it awaited word on whether the U.S. Labor Department would allow it to continue to manage retirement plans despite the plea. The department granted BNP that exemption this month. A New York state court judge on April 15 sentenced BNP Paribas in a related case in which it agreed to forfeit $2.24 billion.

Oil giant Saudi Aramco names acting CEO

il giant Saudi Aramco on Friday named an interim president and CEO after his veteran predecessor’s appointment as minister of health. Amin Nasser was named “acting president and chief executive officer of the Saudi Arabian Oil Company until further notice,” Saudi Aramco said in a statement. The appointment followed Khalid al-Falih’s assignment on Wednesday to the Saudi cabinet under a major government reorganisation. Saudi Aramco is the world’s largest oil company in terms of crude production and exports. Falih had led the company and its 60,000 employees since 2009. Nasser, who has spent more than 30 years with the firm, is

Nasser

a member of the board of directors and served as senior vice president of upstream operations since 2008.

Pouyanne

Shell, Total align trading and refining units to drive profit growth

op oil firms Royal Dutch Shell and Total are bringing their refining and trading operations closer together, seeking alternative ways to drive profits as oil prices fall and independent trading houses expand into their territory. The restructuring will enable the Anglo-Dutch and French companies’ in-house traders to capture profits faster from the fluctuating prices of the different crude oil sources and products coming through their refineries. Snapping at their heels are energy brokerages Vitol and Gunvor, which have bought refining plants in Europe in the last two years in order to do the same. “As traders grew assets in downstream, majors realised there was a lot of money to be made on optimisation. So to a certain extent, trading houses encouraged us to change,” said a high level source from one of the oil firms, speaking on condition of anonymity because he was not authorised to speak publicly on the matter. Shell and Total have already started work on aligning their refining and trading operations and as a result both reported much better than expected first quarter profits Now both are stepping up the restructuring. Shell plans to move dozens of traders from London, Dubai and Singapore to Rotterdam, where it is beefing up a trading hub just miles from its flagship Pernis refinery, Europe’s largest, according to company and trading sources. It also plans to lay off dozens more traders as part of the move to a cheaper cost-base. “We are completing staff consultation and finalising the design of the proposed change,” a Shell spokesman said.

Meanwhile Total is beefing up its Geneva trading hub so that a bigger team of dealers can optimise profits from the volatility of crude prices, company sources told Reuters. It is simultaneously restructuring its refining businesses to expand its product line, by converting its unprofitable La Mede plant in southern France to a biodiesel plant and upgrading its Donges refinery on the Atlantic coast to capture growing demand for low-sulphur marine gasoil following changes in EU rules. [ID: nL5N0XD14O] Total is being more tight lipped about the reforms and only said this week that “downstream again generated excellent results due to its ongoing restructuring efforts”. A refinery closely linked to trading operations can modify its output to respond to swift changes in global demand for products - such as a boost for diesel or gasoline after unplanned outages or bad weather - and lock in high profits. Refineries that process several kinds of crude oil can leverage profits from the different prices of, say, Russian Urals or Nigerian Bonny Light, by linking trading teams into their operations. FAST RESULTS Shell’s chief financial officer Simon Henry said Shell made an extra $1 billion last year thanks to its restructuring, and added that profits would likely increase this year. The action took return on capital in downstream at Shell to 13.4 percent last year, 5 percentage points higher than for the overall group and up from below 10 percent several years ago. “It is not often in this industry that the downstream has had a higher return on capital than the upstream,” said Henry. Oil companies’ refining operations have become increasingly unprofitable in recent years as the Middle East and Asia have built their own refineries to meet their own demand. Total’s chief executive Patrick Pouyanne was praised last year for merging refining and petrochemical businesses after the group reached its target of return on capital earlier than forecast - 15 percent in 2014, up from 9 percent in 2013.

Business as usual seen at Prudential under new CEO Wells

nvestors and analysts expect business as usual at British insurer Prudential after it appointed internal candidate Mike Wells, head of the company’s U.S. arm, as successor

Wells

to Tidjane Thiam. The insurer set out targets at the end of 2013 to expand its Asian life and investment management businesses, fuelled by rising demand for insurance among Asia’s growing middle class. Thiam, credited with delivering strong performance at the London and Asia-listed firm, stepped down in March to take the helm at Credit Suisse . Eamonn Flanagan, analyst at Shore Capital, said Wells might work on closer links between the British, U.S. and Asian businesses, as well as with British fund management arm M&G. “In terms of moving to the next stage, it would be good to have the divisions more integrated,” he said. Wells joined Prudential’s U.S. Jackson arm in 1995 and has 29 years experience in life insurance and asset management, Prudential said in a statement on Friday. He will start his new role on June 1. “I don’t think there will too many changes, given it’s an internal appointment,” said Nigel Yates, fund manager at NFU Mutual. “It’s been such a well-performing business, I’m very happy with it.” The FTSE 100 company’s operating profit rose 14 percent last year to 3.2 billion pounds ($4.9 billion), with a 21 percent jump in profits at Jackson to 1.4 billion pounds. Prudential’s share price has risen 150 percent in the past three years. It showed little reaction to the announcement on Friday and was down 0.9 percent at 1524 GMT. Prudential, the largest insurer in the FTSE 100 index with a market capitalisation of $65 billion, gets about a third of its operating profit from Asia. In the United States, Jackson has been focusing on variable annuities, pension products which give a variable rate of income often above a guaranteed minimum level, rather than the fixed-rate annuities seen in the British pensions market. “Wells saw a gap in the market in terms of variable annuities, he’s obviously an opportunist,” said Yates. “Hopefully he will bring that sort of nous with him.” BC

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Brand Watch

Experts predicts strong growth for Nigerian Telecoms Industry Stories by David Audu

anaging Director and Chief Executive Officer of Airtel Nigeria, Segun Ogunsanya, has said the Nigerian telecoms market offers multiple growth opportunities, stating that with 78 per cent mobile penetration as at December 2014, there is massive untapped market potential just as he also opined that broadband adoption is set to rise as demand for more stable Internet grows from the residential and business segments. Ogunsanya who was speaking at the Businessday CEO’s Forum held in Lagos, disclosed that 47 million subscriptions are expected between December 2014 and December, 2019, saying that this demonstrates massive untapped market potential and continued strong total telecoms revenue growth driven essentially by mobile data. According to the Airtel chief, Nigeria offers exciting opportunities for telecoms investors as

a large population with rising incomes positions the country as one of the most attractive destinations for investment on the African continent. ` Ogunsanya further opines that Nigeria has massive bandwidth capacity from the four undersea cables that has yet to be exploited and this will provide opportunities to domestic and international investors to take advantage of the growing broadband and data industry. He, however, noted that key issues must be urgently resolved for the Nigerian telecoms industry to reach its full market potential. He listed these issues to include spectrum availability and adequacy, Government commitment to the National Broadband Plan, tackling the monster of multiple-taxation, reliable and cost-effective power supply, protection of telecoms infrastructure from vandalism and resolving restrictions on telco activity in mobile money. Speaking on spectrum avail-

ability, the Airtel CEO stated that due to explosive growth in mobile data traffic, operators require more spectrum to support this growth. Although he commended the NCC for making inroads towards spectrum availability and adequacy, he noted that there is an urgent need to expedite the release / award of frequency to operators as this will facilitate industry development. Ogunsanya also decried the incident of multiple-taxation, disclosing that revenue loss from idle or shut down base stations represent the main source of negative impact of multiple taxation and network vandalism for the industry. Two to three per cent of Nigeria’s sites are affected by arbitrary shutdown and vandalism at any given point in time. According to him, it is estimated that increased operating costs and lost revenue costs around N9bn each year to the telecoms industry or about N20bn if most of the arbitrary

Ogunsanya

fees in some key states are upheld. He, therefore, called on the government to unify taxes under one code and also bring to book vandals who deliberately destroy telecoms infrastructure. Commenting on the immediate implementation of the National Broadband Plan (NBP),

the Airtel CEO said achieving the NBP will require possibly up to 50 per cent more than the $3bn-$4bn Nigerian operators have been spending on CAPEX annually, an increment that would need to be justified by a material change in operating conditions that would improve investment confidence. BC

UACR unveils new campaign to bond with kids, rewards consumers

s part of efforts to commemorate and felicitate with the Nigerian child, the UAC Restaurant, owners of Mr Biggs has launched the 2015 children’s day activation tagged ‘’Make a Difference Campaign. The quick service restaurant (QSR), that focuses on children and family said the campaign, a two-pronged programme is aimed at connecting with children on their special day and rewarding loyal customers to the brand. According to the Finance Executive of UACR, Muftau Fasasi, this marketing initiative leverages on corporate social responsibility values to create the needed vibe and hype which resonates with the brand’s target consumers and pull foot traffic to the restaurants. Fasasi said “Giving to charity is an age long initiative and as a child friendly and family brand, Mr Biggs seeks to lend credence to this move in a unique manner riding on her expansive network of restaurants to touch lives across the nation in a one– swoop activity. This implies that charity homes benefitting from this event will cut across all regions of the Mr Biggs operations simultaneously. This initiative will be sustained as an annual national campaign.” Explaining the mechanics of the part one of the programme, the Finance Executive said

“During this year’s campaign, Mr Biggs will partner with Coca Cola to excite consumers through a combo meal offer. Customers can enjoy their great tasting Mr Biggs rice and chicken meal with a 50cl Coca Cola PET drink for just N1000. It is a discount offer.” He said every customer who participates in the activation stands the chance of winning

Mr Biggs meal ticket worth N4,000 and it will be decided via an in-store raffle draw. Our change collection boxes are also available at the restaurants for customers to drop their change after products are purchased. The proceeds will be collated and given to charity homes. We are assuring our esteemed customers that all processes will be transparent

and customers will be updated regularly through the use of the media. Fasasi said the campaign will be driven through traditional and new media channels. “The brand will enjoy maximum exposure on Facebook given our target market to pull foot traffic to the restaurants. There will be a lot of in-store communication to reinforce the message and in-

duce buying decision. “There will be on -line activities where customers will earn reward by tagging along, liking our Facebook page or any such activities that will be posted online for consumers’ participation. We implore our customers to get connected and stay close for all updates as the campaign breaks on May 1 and runs through to 31, 2015”, he said. BC

Carmudi wins Best Automobile Portal of the Year By Leonard Okachie

igeria’s fast and revolutionary solution for people looking to sell and buy cars online, Carmudi has been awarded the Automobile Portal of the Year at the 2015 Beacon of ICT, BoICT, Distinguished Awards. Organised by Nigeria Communications Week, the award is the biggest industry event that aims to recognise and reward companies who have contributed greatly to the country’s growing ecommerce field. Over 80,000 readers of Nigeria Communications Week participated in voting for all 46 awards categories. The Awards, which took place recently at Eko Hotels and Suites in Lagos, had the executives from Telecom, NCC, NBC and CBN in

attendance and delivered keynote presentations. Launched in late 2013, Carmudi.com.ng continues to grow rapidly and has over 33,000 car listings available on its site. Fast on its way to becoming Nigeria’s largest and best online vehicle marketplace, Carmudi secured over 50,000 votes to grab the Best Automobile Portal of the Year award. With more than 170 million people and a GDP growing between 4.5-9 per cent each year, Nigeria is Africa’s largest population and economy. The number of players in Nigeria’s ecommerce space has grown significantly, providing Nigerians with online solutions for all their needs. An annual increase of 30 per cent in Nigeria’s mobile app usage has visibly helped surge Carmudi’s growth in the ecommerce

space. Carmudi provides customers in Nigeria with an extremely smooth and hassle-free platform to fulfill all their car related needs be it looking to sell or buy cars, auto news, and car tips. The Managing Director of

Keller

Carmudi Nigeria, Christian Keller,who attended the event commented “We are extremely happy and honored to have won the Best Automobile Portal of the Year title. It shows that our efforts in providing our customers with the best car shopping experience has paid off and is well received by the general public. We would like to thank our customers and voters for making this happen and will continue to expand and improve our services to bring home the same award next year”. Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia, Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam, and Zambia. BC

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Energy Review

Zero subsidy allocation: Politicking or economic imperative Could the omission of petroleum products subsidy from the 2015 budget passed last week by the Senate mean an end to subsidy regime or a booby trap for the incoming administration? Gbenga Odogun analyses the fiscal issues.

ast week, the upper legislative chamber of the National Assembly passed the 2015 budget without any provision for the controversial subsidy on petroleum products. This follows the earlier passage of the same Appropriation bill by the lower house also without provision for subsidy in spite of the ongoing disagreement between oil marketers and Federal Government over unpaid subsidy claims. But then, in spite of the zero subsidy provision in the budget, the National Assembly provided N21 billion for the funding of the Subsidy Reinvestment and Empowerment Programme. In view of the sensitivity of the issue of fuel subsidy, analysts are of the opinion that if the fiscal stance of the law makers is a deliberate policy aimed at complete deregulation of the market; it means the Federal Government seemed to have succumbed to voice of reason after years of ambivalence disposition to the pesky matter. Analysts at BGL Research and Intelligence have stressed the need for the full deregulation of the downstream oil sector amid the decline in global oil prices. They said that failure to take advantage of the reduction in oil prices to deregulate and the choice to reduce the pump price of Premium Motor Spirit, petrol, also created market uncertainties that have been responsible for perennial petroleum products witnessed in the economy over

the years. Also maintaining the same position is the umbrella body of oil marketers the Oil Marketers Association who described the country’s petroleum downstream sub sector as a poorly regulated sector considering the degree of anomalies that have characterised operations in the sub sector over the years. The association called for its complete deregulation, saying the move would encourage private investments in the sub sector, especially in the area of building local refineries to refine crude produced within the shores of Nigeria. The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, told newsmen in Lagos that the oil industry needed very strong regulatory framework as is the case with some critical sectors of the Nigerian economy. According to him” “, the slo-

Abiodun

gan is clear! No deregulation, no private refineries. Government cannot continue to set prices of petroleum products and expect private investors to come and stake their money in building

Fuel scarcity caused by subsidy removal

Okonjo-Iweala, Finance minister

refineries. Last year, oil marketers under the aegis of the Depot and Petroleum Marketers Association DAPPMA also called for the deregulation of the downstream

NNPC plans 2,000km gas pipeline, raises domestic as saying that the project offers that would stimulate large scale oil production great “opportunities for invest- farming activities in the north,

he Nigeria National Petroleum Company, NNPC, said on Thursday that it plans to provide 2,000 kilometres of gas pipelines over the next six years to enhance domestic gas supply in the country. The NNPC Group Managing Director, Dr Joseph Dahwa, disclosed this in a message during the “NNPC Day” at the ongoing Kaduna International Trade Fair. The News Agency of Nigeria quoted the Managing Director

ments for fabrication of pipelines and related services such as pipe coating and capable of generating employment’ Dahwa said that the Gas Master Plan being executed in the country would establish a Gas Industrial Park in Delta, which was expected to generate over 10 billion dollars in foreign direct investment. He said that the project would also lead to the generation of “customised fertiliser”

south west and south east of the country. The GMD said that the company was also targeting to raise Nigeria’s crude oil production capacity from the present 130,000bpd to 250,000 bpd by 2020. He said that the partnership between the NNPC and international oil companies had “contributed immensely to the growth and development of the nation’s hydrocarbon sector”. BC

subsector of the country’s oil and gas industry. Then the DAPPMA Chairman,Mr Dapo Abiodun ,said the downstream sector’s deregulation would lead to a complete removal of subsidy for refined petroleum products, including kerosene. In view of this, he gave an assurance that oil marketing companies had the capacity to import and sell kerosene at reasonable prices if deregulated. He said “our Association has closely been following the senate proceedings on the issue that touches among others, on kerosene subsidy controversy” “Generally, DAPPMA has for the past ten years actively canvassed a complete deregulation of the downstream sector of the Nigerian oil and gas industry with its attendant benefits for the sustenance and growth of

that vital sector of the economy. He said that subsidy removal from refined products would have been one of its key features if their recommendations have been taken seriously. Abiodun said the continued importation has continued to create lucrative market for refineries particularly in Europe and the United States as it imports more than 80 percent of its refined products as a result of inadequate domestic refining capacity whereas other oil exporting counties are increasingly shifting towards meeting their domestic demand for petroleum products and exports of refined products by increasing their refining.. However, there was some suspicion from some quarters over the sincerity in the non inclusion of subsidy in the budget claiming that the outgoing administration had merely left it for the incoming administration to decide. The chairman joint senate committee on Appropriation Mohammad Maccido while confirming that there was no provision for subsidy in the 2015 budget said that the National Assembly left it the way it was presented. Maccido queried the rationale behind the non provision for subsidy in the budget proposal especially when there was already, a disagreement between the oil marketers and the federal government over the issue around subsidy. Also reacting to the development, the Chairman, Senate Committee on Public Accounts, Senator Ahmad Lawan, said the incoming government would definitely review the 2015 fiscal budget because of the various flaws in it one of which is the controversy surrounding oil subsidy. BC

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Business Courage

Monday, May 4, 2015

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Nigeria tops money transfer remittances to Sub-Saharan Africa By Isaiah Erhiawarien

igeria accounts for twothird of the money transfer remittances by the Sub-Saharan Africa in 2014, report from the global online money transfer service WorldRemit has revealed, adding that the total amount received by the country was $21bn. The report also projected a $33bn remittance for 2015, signifying a 0.9 per cent growth in the region. This week the company released data on the state of global remittances. According to the research, with macro-level data sourced from WorldBank, stagnation in remittances to Nigeria was offset by strong growth in Kenya, 10.7 percent, South Africa, 7.1 percent, and Uganda, 6.8 percent. The report revealed that fees charged for remittance remains very high despite the volume of remittance made to the region by Africans abroad. The report said: “The average cost of sending $200 to Sub-Saharan Africa remains at 12 percent ,far off the G20’s target of 5 per cent; largely due to the cost of bricks-and-mortar agent networks of traditional firms. There is a huge potential for mobile technology to reduce costs on both the send and receive sides.” According to WorldRemit, mobile money will play an increasingly significant role in remittances and also help to reduce fees. The company disclosed that the worldwide mobile money usage is exploding with a high mark of 261 mobile money services are now live across 89 countries with 103 million active users as of December 2014 noting that more than half of these services currently in operation are in Sub-Saharan Africa. Commenting on the report, the Senior Mobile Analyst at WorldRemit, Alix Murphy, said that mobile money will play a pivotal role in global remittances, helping to reduce fees, improve speed and convenience for users. “Most importantly, mobile money is a key enabler of financial inclusion. There are currently two and a half billion unbanked people in the world i.e. without a bank account. One billion of these people already have access to a mobile phone and so a potential means of accessing financial services.” He said that for many people

in the world, mobile money will be their main or only means of accessing financial services stressing that many countries in Africa are looking to up their levels of investment in mobile money services to capitalise on growing consumer interest. WorldRemit further revealed that active mobile money users reached 103 million at the end of December 2014. According to the report there are 299 million registered mobile money users. Commenting on the news, WorldRemit Founder and Chief Executive Officer Ismail Ahmed said, “The rapid growth of mobile money services represents one of the biggest enlargements of participation in the global financial system, ever.” “As the leading sender of remittances to mobile money, WorldRemit understands the life opportunities that are unlocked when people have the ability to receive spend and save money via a mobile device.” Mobile money has gained attraction in many parts of Africa with countries like Kenya using the service. M-Pesa said its platform accounts for two-fifths of Kenya’s GDP, while recent news is that global payments technology firm Visa has partnered with Indian telco Bharti Airtel to launch mobile payments services in seven African countries, including Kenya. East Africa has recorded significant growth and uptake of mobile money platforms, largely propelled by expanding

Ahmed

usage in Kenya and Tanzania among other countries in the region. Kenya’s Safaricom recently announced that it would be offering loans through its MShwari savings and loans product while 250,000 users reportedly registered for Vodacom Tanzania’s M-Pawa savings and loans product. Orange Business Services has identified Kenya as a strong market within the mobile money services space. However, the numerous success stories outlining massive take-up of mobile financial services seems to be linked only to coutries in East Africa such as Kenya, Tanzania, Zimbabwe

Murphy

and Uganda, leaving the other African markets behind. A report released by a specialist mobile financial services research company said that transaction is “still primarily cash-based”. Zimbabwe’s Econet Wireless said its mobile money platform, EcoCash accounts for 20 percent of the country’s gross domestic product while M-PESA said its platform accounts for about two fifths of Kenya’s GDP. However, experts now doubt the significance of these figures, saying this measure misses out on payments changing hands across the supply chain. For instance, Mondato Mobile Financial Services Africa

2015 Report said: “GDP is simply a measure of gross value added, and therefore misses out on the many payments changing hands as inputs move through supply chains, with components bought and sold multiple times over.” As a result of this, and putting aside airtime top-ups and person to person transfers, the Africa region “is in a very similar position to Europe, and parts of the Americas and Asia, where MFS is not achieving levels of use that were previously forecast”. However, said the report, countries in Africa enjoy the advantage that the “greater proportion of the population has an evolving comfort for transacting over their mobiles”. Most markets in the region also have fewer alternatives compared to their European and American counterparts, a situation that experts believe will help markets “overcome consumer behaviour” obstacles. Additionally, said the experts at Mondato, the number of registered accounts in SubSaharan Africa has almost doubled over a two-year period but underscores that “adoption remains very “thin” and predominantly limited to airtime top-ups and person-to person transfers. Mondato said that the mobile financial services sector in Africa is poised to grow significantly in the next four years, with person-to-business,P2B, transactions in Ghana, Kenya, Nigeria and South Africa poised to hit the $900bn mark by 2018. Mobile money platforms have taken off phenomenally, particularly in East Africa, but also in the South in countries like Zimbabwe. All have registered a surge in mobile money transaction volumes. However, experts at Mondato, a global mobile money consultancy company, said the sector is still limited to personto-person transactions, P2P, yet there is significant room for raising wallet-to-bank and bank-to-bank transactions using mobile money platforms. Mondato said in its research report that P2P mobile financial transaction remittances “remain an important driver of consumer adoption in many markets”. However, recent trends show that “Africa is moving out of phase one of the MFS and digital finance revolution”. BC

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Business Courage

Monday, May 4, 2015

Microsoft unveils winners of Lumia 535 Dual SIM “Passion to Empire” Campaign Stories by Isaiah Erhiawarien

icrosoft Mobile Devices and Services has unveiled winners of its entrepreneurship initiative, the Microsoft Lumia 535 “Passion to Empire” campaign, which kicked off Monday, February 16, 2015. They are, Daniel Isa, Emmanuel Ugwueke, Emmanuel Okena, Godwin Benson and Jessica Yahaya. Speaking at the prize presentation ceremony, the General Manager, Microsoft Mobile Devices & Services, Joseph Umunakwe, described the “Passion to Empire” campaign as a demonstration of Microsoft’s commitment to helping Entrepreneurs translate their business ideas into reality. Umunakwe said, “At the core of Microsoft is productivity. We are continually investing in building devices that enhance productivity to better lives. We are passionate about helping Entrepreneurs build capacity that sets them apart from their peers. Though, these five contestants won the prize money with the crop of young creative minds that entered for the competition and the wonderful ideas shared so far, the future is bright and I must say they are all winners in their own right.” He revealed that, aside the prize money presented and the training program at the Enterprise Development Centre, EDC, of the Pan Atlantic University in Lagos, Microsoft under the Cloudprenuer project would be offering the Top 1000 that are into technology busi-

Umunakwe

ness the opportunity of taking advantage of its cloud service at no cost. He stressed, “We are building a total package to help them develop their business as well as give them visibility on the web.” On the Lumia brand, the Head, Marketing, West Africa, Microsoft Mobile Devices and Services, Olumide Balogun stated that the Lumia brand of phones are stylish and perfectly designed for entrepreneurs who want to do more on the go. With thousands of entries received, Judges on the campaign, made up of top Nigerian beauty entrepreneur, Tara FelaDurotoye, entertainment mogul and Founder of the Chocolate City Group, Audu Maikori and founding Partner of leading Careers and Jobs website, Jobberman, Opeyemi Awoyemi had an uphill task shortlisting for the Top 30. In the end, they settled for 15 contestants, given the incredible ideas that they could

not push aside. Speaking on behalf of the Judges, Tara said, “Lots of the ideas came from technology, but we also saw ideas from the Agriculture sector and services industry. Initially, the idea was to select the Top 15 to pitch their ideas; however, there were some good ones we could not push aside. The truth is that, Nigeria has a bright future with the kind of minds that we interacted with during the campaign.” The winners got cash prizes of N3.5m each, including skills and acquisition training sessions at the Enterprise Development Center, EDC, in Pan African University. Overwhelmed with joy, Ugwueke, an indigene of Enugu who lives in Nassarawa State where he has been running his engraving business in the last five years, said, “We have been doing this business manually since we started and because of this, demand usually outruns supply. With the prize money, I can get an Automatic engraving machine to run the business more efficiently and increase sales.” For Benson, who is embarking on a Technology cum Education business, a majority of the prize money will be invested in marketing the “Tuteria” site which he added would go online in the coming weeks. The 1st runners-up; Anita Ibekweh, Adeniran Olanikpekun, Ifeanyi Akosionu, Samuel Okoroafor, Mabel Okereafor, Gbolaro Victoria and Oscar Aniete were also rewarded with training sessions at the Centre. BC

Huawei releases new budget smartphone H uawei Technologies has launched the Honour 4C smartphone, the latest bid by the Chinese technology firm to gain market share in the highly competitive budget handset segment from domestic rivals such as Xiaomi. The phone has a 5-inch display, slightly larger than

Honour 4C smartphone

the iPhone 6 and the same as Xiaomi’s Mi 4 smartphone, and starts at 799 yuan ($129). By comparison, the iPhone 6 starts at around $750 while the Mi 4 costs around $250. To cut marketing costs, the Honor 4C will be sold primarily online through outlets including Alibaba Group’s Tmall,

George Zhao, president of Huawei’s Honor brand, told the Global Mobile Internet Conference in Beijing. Zhao and Alibaba vice-president Jeff Zhang also said the smartphone launch coincided with a “new level” of corporate ties between the companies. They declined to give details. Formed by Huawei less than two years ago as a largely independent unit, Honour has released several budget smartphones which, like Xiaomi, it has sold almost exclusively online. Huawei said it had sold 20 million Honour handsets last year, nearly a third of the 60 million handsets Xiaomi sold during the same period. Huawei, which is also one of the world’s largest makers of telecoms network equipment, ranked fourth in global smartphone sales last year, shipping 68 million units, giving it a 5.5 percent share, according to research group. BC

Technotalk

National Mirror www.nationalmirroronline.net

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

How business blogging can build your brand, enhance profitability

usiness owners embracing blogging will really enjoy the benefits and grow their businesses. When i speak to business owners about blogging, the response i get is “does anyone even read these things?” Building a “tribe” means building relationships with your customers. There are sundry of online benefits to posting high-quality content’s on your business blog regularly, and one of the most important gain is that information seekers, search engines will recognise you and your website easily. This can help attract potential customers, and sustain old ones loyalty and increase their trust in your product or services. Blogging is an excellent marketing tool for businesses. To get customers to visit your blog, you need to write quality content every week. The benefits of a blog increase in manifold as you increase your publishing frequency. From the recent studies I have done, businesses that blog regularly are more likely to generate leads via their website than businesses that don’t. It also builds trust in your business. Business blogging is a good marketing strategy and a valuable tool for any business. In order for your business to be successful, it is essential for people to know about your brand as well as the products and services you offer. Networking will help you establish trusting relationships with potential customers just as attending networking events regularly and cultivating long-term relationships with your fellow professionals can help a great deal. You need to develop your network to recognise your ideal customers and the unique problems that you solve in your business. That way, when members of your network come across other people, they can introduce your company which will create an optimal situation where you are solving, not selling. An attractive website can make your business look professional. But the real benefits will depend on functionality and ability to attract customers to your business. If your website is outdated, consider a redesign. To combine business blogging with in-person networking, here are five ways that will help you attract new clients, grow your network, and enhance your business growth: 1) By publishing blog posts on a variety of topics that correspond to the specific customers, products, services or situations that you deal with in your business, your networking colleagues can easily find and share this specific information when they meet an ideal customer for you. 2) On your blog, you can educate people by including case studies that will clearly show your network; what you do and who you do it for. 3) Visit networking events, get call cards and visit other company’s websites. When you find a current and highly informative collection of articles (blogs) about the same topics you referred to at the meeting, it will validate the positive impression you made in person. 4) Members of your network may also post your content on the social media to share with their entire network. By blogging consistently and linking to your posts on social media, it makes it easier for people to know you. You can return the favour with a simple public “thank you” that your followers will see. 5) If you speak to someone at a networking event who might also be a potential customer, blogging gives you a non-threatening and effective way to continue the conversation. Simply send them the link to one or two of your blog posts that either describe how you solved a similar problem for another client or provide some self-help tips they can apply immediately, to get some initial relief. It is instructive to conclude here that blogging and social media don’t replace physical networking, but combining both and using them effectively will help you enhance your business relationships both physically and online. BC

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Business Courage

Monday, May 4, 2015

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Mitchell Elegbe:

Mr. Cashless He was not born with the proverbial Silver Spoon, but through determination, vision and doggedness, the idea he envisioned some years back, shortly after his NYSC programme has today become the cornerstone of Nigeria’s financial services industry. This is the story of Mitchell Elegbe, Managing Director, Interswitch Nigeria Limited.

Elegbe

By Adejuwon Osunnuyi

here are many people who believe that some degree of luck is essential to be successful in life. There are others, who hold the views that, rather than solely depend on luck, success can only be achieved, when ideas are backed with hard work and adequate preparation. The story of the rise and rise of Mitchell Elegbe, Managing Director and Chief Executive Officer of Interswitch Limited is clearly one of such. Though, Elegbe was not born with the proverbial silver spoon in his mouth, to a large extent, he learnt a lot of family values from his foster father, his uncle. The last child in his family, Mitchell was raised by his uncle, having lost his father long before he was born. Like he puts it, he did not come from a wealthy background. “If you are looking at rich from the terms of material wealth, I won’t say I come from a rich home, but if you are looking at rich in terms of values, yes! While having wealthy folks can help one to succeed in life, it is not a determining factor – I know of people who came from very poor homes who have made it and others from rich home who lost

focus, so I think it boils down to the individual. Yes! Money helps, but money not being there is not an excuse not to make it,” that is vintage Elegbe. Largely described as a man with distinct ideas, courage, hard work and determination, Elegbe’s trip into the business world did not really start on a smooth note. As a student, then at the University, while struggling to make ends meet, Elegbe cut his teeth in cassette recording business, through borrowings from some of his friends. Then, he would travel all the way to Onitsha to buy high quality audio tapes and then go back to a recording studio, record on them and sell in school. While the sale of the cassette was fetching him some money, he recalled, “Not too long after wards, other students cashed in but rather than do it well like Elegbe, the new entrants settled for recording on tapes of lower quality, which totally wiped out my profits. Then I switched over to selling shirts. This is how I learnt how to read a market, and also time management, lessons that have become invaluable to me today.” Elegbe is the brain behind the world class integrated payment and transaction processing company, Interswitch, but for him, though the company remains the

flagship, through which many have come to appreciate his entrepreneurial spirit, Interswitch was not the first idea. According to him, Interswitch was the idea at the time that made sense. “Prior to that, I’d had a thought of an automated car wash, but now that is fringe, if I was to start that straight from school maybe I would have been satisfied”, he said as he went on to explain that ideas are time bound, “If I was to start something afresh today, Interswitch would be too small; Interswitch today is not just a place I got to overnight, it is a series of ideas which developed over time. Today, what are the opportunities out there? What are the challenges? What are the things that need to be solved that I can solve based on my competencies, my training, my background, my disposition to life. Do something that makes sense to you that you would find enjoyable.” Elegbe said that there were a lot of ideas he picked from school but that the Interswitch concept came at the right time when it was clear that Nigerians needed something in the mould of what Interswitch offers. For Elegbe, the motivation to practically solve problems, rather than just make money and having a can do attitude are virtues that helped him to be trusted with the responsibility of starting Interswitch as a fledgling company, barely five years after he completed his compulsory one year National Youth Service scheme. As a graduate of Electrical

Engineering from the University of Benin, Elegbe started his career with Computer Systems Associates (CSA), Lagos as part of a team that implemented the software solutions that enable Nigerian Banks connect to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). About six months later, he joined TELNET in 1997, where he was assigned the responsibility for business development, corporate sales, solution selling, customer and supplier relationship management, as well as the conceptualization and implementation of new products. He was later recruited by Schlumberger Wire line & Testing (Scotland) as a Field Engineer, but his stay in Scotland did not last more than one year. He returned to Nigeria and was re-absorbed into the Telnet group, this time, as Head, Group Marketing and Business Solutions. While he was still at Telnet, in 2001, he conceived the idea of building a nationwide switching company of world class standard and that company is what is today’s leader in the electronic payment and service industry. The coming of Interswitch was borne out of the desire to change the way payment are done in Nigeria, using the existing channels. To start with, Elegbe said that what he along with few others did was to go to the players, encourage and show them what they could do. “Of course, at first, they were not forthcoming, but we assured them that the system was going to be built using international best practices to be localised to the expectations of Nigerians.” The name Interswitch, he said, comes from the words, international, interconnect and interactive. The genesis of the story was the creation of the switch. This is how it works, for instance, a few

years ago, transferring money from one bank to the order was a painstaking and time consuming process but by creating the switch, Interswicth created an online real time electronic payment system to support other mode of customers’ transaction across several payment channels, such as Automated Teller Machine, Point of Sale terminal, web, mobile, voice and kiosks. With such an amazing success story, with the adoption of Interswitch Pay Direct, little wonder that over 70 per cent of the state government, about 90 per cent of major telecommunication companies and numerous organisations across oil and gas, manufacturing and educational sector now rely on solutions from Interswitch to drive their revenue collections and payments as part of the business. Besides being the brain behind Interswitch brand, Elegbe, in many ways, largely contributed to the evolution of transforming Interswitch Limited from an epayment switching company to a Pan-African integrated transaction and payment processing company. Interswitch Limited is owned by four banks, three private organizations, management and staff. These shareholders include First Bank of Nigeria Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc and Zenith International Bank Plc, while Helios Investment Partners, Adlevo Capital and Techinvest Limited formed the private corporate ownership. Though he originated the concept, Elegbe insists that Interswitch is not his company. “You should know this that sometimes, the man with the idea is not the one that has the money and sometimes the man with the money does not have the idea. I don’t know why God made it that way. So, the man that has the wealth and the man that has the idea come together to form a partnership. In this particular case, all I had was an idea; I was working in a company called Telnet, a very good organization where they encourage ideas and we knew our limitations – we knew we had the technical know-how to get the job done, so we got in touch with Accenture, one of the top three consulting firms in the world, who then got the banks and the banks basically brought the money. So, Interswitch is a company largely owned by the banks,” he stressed. Elegbe stressed that the probContinued on pg A14

Business Courage

lem with young people these days is “ that they tell you I have this idea and before they even finish the idea, they are saying I want 50 per cent; that is not how it is. I know they have heard about the Bill Gates of the world but if you read about people like Bill Gates, the focus was not the money, it was a vision, an idea, something they believed in; if you take everything away from them, they would still be pursuing their course,” he said. Working with Accenture and nine leading banks in Nigeria, Elegbe managed the project from design, proving of the concept, to the eventual setup of the company responsible for managing the shared infrastructure in the country. He leads a team of dedicated Nigerians as the pioneer Managing Director since inception in December 2002. Mitchell believes that the colour of one’s skin should not be a factor in the quest to succeed. “When I came back from a trip to the Bahamas, I found out that most people on the Island are black, and one question I kept asking myself is, how are these people different from us? People say there is something wrong with the black man but here is Bahamas not too far from the US, and making things happen, so it has nothing to do with the colour of our skin, my motivation comes from the challenges from the environment, there are problems here and these problems need to be solved. That motivates me.” Elegbe believes being successful in life is not a matter of luck. “I don’t count on luck; what many people don’t know is that, there are many ideas we have in Interswitch that do not come to light. Some of them we kill ourselves. Someone stays in a room somewhere working on an idea and then after a few hours, we kill it. Was I lucky? I lost my father before I was born. I think I wasn’t lucky is an explanation that people use to explain away the reason why they did not succeed. I had this classmate that was always sleeping when we used to go to read in class. One day, I asked him how come he was always having good grades when he never went to class to read. Do you know what he told me? He said “Mitchell, to go to class, you would have to go to the rooms of two or three of your classmates to call them. Immediately you leave the room, I wake up and start reading my books; while you are in class, someone may be strolling and because the person is feeling sleepy he calls you for a chat and then when you have just started reading, your classmates call you that it’s time to go back and because you do not want to trek the long distance back, you leave for the hostel. Immediately I hear you guys returning, I close my books and start sleeping again, so you do not disturb me with noise and I will not be able to sleep again. Because of the strategy you guys use, I gain two hours that you guys lose everyday in walking

Monday, May 4, 2015

Elegbe

the distance to class and chatting with friends while in class. At the end, he came out with a first class. Was it luck?” Expectedly, Elegbe believes so much in the cashless policy of the Central Bank Governor, Sanusi Lamido Sanus and this is quite understandable. To a large extent, his company, Interswitch, one of the major beneficiaries of the policy, has continued to roll out initiatives to support the cashless policy project as he believes that the full implementation of the policy would grow the electronic payment landscape. Elegbe said Nigeria still lags behind many nations in bank accounts, ATM and PoS deployments despite the fact that about 18 million to 20 million cards of various makes from debit, credit, e-purse and loyalty schemes in circulation which allows consumers and enterprises to pay and collect bills and taxes via many channels such as ATMs, banks, PoS, online, etc. To complement the CBN’s effort on e-payment, the company has released electronic payment products to support the regulatory body’s Cashless policy, aimed at encouraging electronic-based transactions and reducing the amount of physical cash in circulation in the country These products include e-payment solutions from Interswitch such as Paydirect, Autopay, Direct Debit, Verve Card, Quickteller, Webpay and Smartgov and cards such as MasterCard, Visa, Genesis and Freedom Cards, issued by the banks. He said these solutions are in tune with the policy and direction of the CBN and would assist individuals, corporate organizations, government agencies, merchants; manufacturers and suppliers to meet their electronic payment needs under the Cashless Scheme. Interswitch is expanding its scope. Recently, Elegbe led the company to acquire a 60 per cent stake in Uganda’s only company of the kind, amid plans for more African acquisitions. The company has offered to commit the N26 billion ($170 million) injected into it by Helios Investment Partners LLC for expansion on the conti-

‘

Elegbe said that there were a lot of ideas he picked from school but that the Interswitch concept came at the right time when it was clear that Nigerians needed something in the mould of what Interswitch offers

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nent, in a strategy which Elegbe noted is targeted at acquisitions in other countries, and “where we can’t acquire, we will partner with the owners.” The growth plans for Interswitch, which also runs a network of 10,000 automated-teller machines and 11,000 point-ofsale terminals, as the Nigerian central bank seeks to encourage more non-cash transactions in sub-Saharan Africa’s second- biggest economy. Today, for smooth operation and efficiency, Interswicth is divided into various divisions. Some of the divisions managed and headed by competent young Nigerians include, TouchPoint, Infratrust, Oneview, Transpro, as well as Imagineering, which is further divided into various sections. The Touchpoint division focuses on managing customer payment touch points, like locations where Point of sales terminals are placed; the Touchpoint devices accept multiple cards including Verve, MasterCard etc. Touchpoint not only helps to manage these locations, it also provides terminals to banks, merchants and scheme owners. Touchpoint also provides acquiring services, and inventory management systems and solutions that can help manage payment collections across multiple outlets

or multiple distributors, whilst providing 24 hour global monitoring capabilities. Brainworks is Interswitch’s learning and development academy. The focus of Brainworks is to develop and sustain knowledge, skills and abilities internally required to enable the organization achieve its objectives. Brainworks is also charged with the responsibility of creating external recognition for Interswitch within the industry and beyond by becoming a leading world class learning academy. For Techquest, it is primarily responsible for research and development of new products and services. They are responsible for providing innovative, easy to use, consistent payment solutions and value-added services across multiple consumer touch-points and devices. Techquest also monitors new trends in software technologies and electronic payment processing. Verve Business is responsible for managing “Verve” across Africa. Verve, is a branded payment card (previously referred to as Interswitch Debit card or ATM Card), but which has now been branded, and enhanced with numerous security features including chip and pin security, money guard, customer rewards and access to value added services like Quickteller. Verve provides consulting services to organizations, governments, and financial institutions looking to issue the Verve Card. The Verve card is the new Interswitch debit card now with the Chip and PIN. Verve is the new name of the more secure and convenient Interswitch card which with the introduction of chip and PIN makes transactions safer and with Quickteller services, adds convenience to everyday life. MySmartCityCard enables state governments automate processes around revenue collections, salary payments for civil servants, contractor payments and more, thereby making government activities transparent and efficient. MySmartCityCard combines identification and payment technology to eliminate leakage and improve accountability in revenue collection, healthcare delivery, education, transportation, social benefit transfer and other government services. MySmartCityCard is a Verve payment card with bio-metric based identity on the chip and it is the future of interactions between Smart governments and their citizens. Paydirect is a secure webbased Interswitch solution that enables corporates and government organizations receive payments made by their distributors, agents and customers into their accounts from all of the banks in Nigeria. It also allows distributors, agents and customers to make payments into your accounts from not only bank branches, but, from ATMs, Point of Sales (PoS), Web, Mobile Phones and Kiosks. In addition, Paydirect allows you

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to know who paid, which bank it was paid into and what amount was paid online and in real time. Elegbe believes so much in mentoring, which he says play key role in determining the path to success. For him, a mentor is a person who has no reason to impact positive values to you but they end up doing so, and this is perhaps, why said he will remain indebted to his uncle as well as three of his former bosses. “My uncle was one – but then, that was his responsibility as my father. I talk about three of my bosses, Dr Carew – the founder of the Telnet group, Dr Denloye, also in Telnet, and Ejovi Aror, my first MD at iTECO of the Telnet group.” According to him, “One day I went to Dr. Carew, and told him I had got this idea about security cameras that I would like to do. He looked at me and said “Mitchell that is strange. Our office is in V/Island, all our engineers are graduates, trained and certified, so we need to pay a lot of money to keep them. Mitchell, do you want to compete with people with offices in Igbosere, who don’t pay a lot of people and can use artisans for the same job? This technology is so basic that we should not be thinking about it, if you want to do security, do security at a level that ‘those guys’ can’t even imagine”. I realized that what he was telling me was “who are the people that will compete with you when you stand, can you sustain competition with them?” The answer was No! That was mentoring at its best. All he was saying was up your game. If he had just told me up your game, it wouldn’t have made sense to me: meaning that by virtue of who you are, there are certain things that are beneath you, leave it for others. For Dr Denloye, he recalled that, “I went to her and said, “Dr. I am tired, I am afraid that I will run out of ideas”, because my job at Telnet was to come up with new business ideas, the painful thing was that, I had profit targets like everyone else and since to come up with a new product takes years, I plan many years ahead so I know I must have a new project launched every two years… And just when the idea is getting sweet, someone else is given the job to manage, while I have to create a new one. She told me a man never runs out of ideas. Getting ideas is a process, an attitude, a culture. Immediately she said this, do you know what came to my head, Nokia? Nokia did not start with making phones. This statement affected me; creativity is about your personality, the culture you have, your approach to issues, those things will stay with you till you die. You may not have youth and energy, but you will still have ideas and they will keep getting better and better with the passage of time. The kind of ideas I think of now, the potential impact I can make for the shareholders and the society is so much higher.” BC

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In pursuit of improvement strategy BUSINESS 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

or uniform motion until a force is applied to it. For those who drives and especially on ThirdMainland bridge, Lagos South West Nigeria, at about 11 pm in the night, it is possible to drive with a uniform speed of 60km per hour, but to improve your arrival rate, there is need to press the accelerator. When you press the accelerator, then you have applied force to improve your arrival to destination rate. Nothing in business works by itself, the entrepreneur and his team make every profitable business to work. Likewise, when you don’t pursue business improvement, you cannot gain market leadership. The executive strategy is not the end in itself; it is only a means to wealth creation. Knowing the business direction is the first step; the actual pursuit is what makes it a reality. It is not enough to have a smart goal set. Goal setting is daydreaming when it lacks pursuits. The colour of business strategy is usually determined by the tenacity of the pursuit involved. I have met people with fantastic business ideas and great innovative strategies on paper without any practical

‘

Dear friend, my encouragement is that you can cultivate that business potential now. Develop and deploy your talent for effective execution of improvement strategy in the enterprise. Your music, teaching, makeup, sales, plantain chips, consulting, web designing, and food enterprises are all waiting to be cultivated

pursuit. I have also been there too that having nice business plan put together that did not go beyond the paper because there was no application of force of pursuit. Dear entrepreneur, your discovery and improvement plans might be genuine, but your pursuit must be strong, if it will ever become a reality. You do not get up and stand shoulder with movers and

‘

preacher was travelling to one of his churches one day. On his way, he saw a farmer plowing his field. The farm looked beautiful as it stretched many miles. The preacher stopped his car and as the farmer approached, he motioned to the hard-working labourer and decided to hail him. When the farmer saw the preacher waiving at him, he stopped his tractor, jumped down and walked up to the preacher. “How may I help you, reverend”? The farmer inquired. The preacher looked directly at the farmer and pointed at the farm, telling him, “With all the beauty and states of this farmland, God has certainly blessed you, my son.” The farmer removed his cap, wiped his brow with his sleeve and looked directly at the preacher. “You are perfectly correct, reverend. The lord has certainly blessed me abundantly and for that I am eternally grateful.” The farmer then paused to catch his breath, looked up and returning his gaze to the preacher, he stated, with conviction, “But you should have seen this place when He had it all to himself!” Friends, the lesson is this; land, rain, sunshine, wind are provisions from God, but a beautiful and productive farm are product of investment. Entrepreneur must cultivate the business to improve the business growth strategy. Simply daily improvement on pursuit of business goals is business success. Business purpose and executive strategy is of no value without pursuit. Pursuit is what gives business strategy value. Pursuit is the relevant force that transforms your business’ vision, mission, corporate values and goals into reality. In physical science, one of the laws of motion says every object assumes a state of rest

shakers in your business community by mere wishing. You get there by pursuit of clear business purpose. The best in life is a function of input. This is applicable in business too. One of the most profound truths in life is that you will never get something for nothing. You will always get something for something. When you sow, then you reap. Another fact about pur-

Motivational Business Quotes

he cynic says, “One man can’t do anything”. I say, “Only one man can do anything.” - John W. Gardner

I feel that luck is preparation meeting opportunity. – Oprah Winfrey

Iacocca The desire of knowledge, like the thirst for riches, increases ever with the acquisition of it. – Laurence Sterne

If there is such a thing as good leadership, it is to give a good example. – Ingvar Kamprad

Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were. – David Rockefeller

Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. – Steve Jobs

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

You’ve got to say, I think that if I keep working at this and want it badly enough I can have it. It’s called perseverance. – Lee

Leadership is the art of getting someone else to do something you want done because he wants to do it. – Dwight Eisenhower BC

suit of business strategy for planned improvement is that when you don’t pursue improvement strategy strongly, it fizzles out. Pursue your business improvement! Go after the people and resources requirement! It will not work until you work it. In every industry, business success is not a gift; it is an adventure undertaking by those who desire it. A discipline pursuit of your business improvement strategy will earn you future in that industry and eventually create wealth for you and the community. In farm business, every farmer usually have strategy to plant seedlings prior to raining season. They usually have a clear strategy on land cultivation before they steps into farmland. All strategies are fantastic but the vigorous pursuit of that strategy both in dry and raining season is what produces results. Although the results of famers varies from season to season but farmers are often great farm executive. This is because an average farmer executes strategy passionately. Dear friend, my encouragement is that you can cultivate that business potential now. Develop and deploy your talent for effective execution of improvement strategy in the enterprise. Your music, teaching, makeup, sales, plantain chips, consulting, web designing, and food enterprises are all waiting to be cultivated. Your investment in the improvement strategy determines your success. Be courageous to experience fulfillment while you achieve your goal this year. I love you guys! BC

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ThebuddingEntrepreneurs

A pharmacist with entrepreneurial She had always had the entrepreneurial passion running through her veins. Though a trained pharmacist, the urge to stand out, coupled with her desire to offer motherly support to her young children at the time compelled her to abandon a paid employment. Today, that risk she took has not only paid off in material terms, it has also thrown her up as one of the leading change advocates in Nigeria. This is the story of Fayo Williams, the executive director, Rely Supply Ltd

ayo Williams bagged a B.Pharm degree from the Obafemi Awolowo University (OAU) in 1982 and two years later, she was awarded an MSc in Pharmaceutics at the same University. She briefly worked with one of the subsidiaries of Dana Group that makes Infusion Fluids at Ibadan and later joined the services of Health Aid Int’l, Lagos. However, despite her promising career in the companies she worked in, the burning desire to actualise her entrepreneurial desire on one part, and the need to fully dispense her motherly essence to take care of the home and be close to her children made her abandon the job offers. Her first entrepreneurial endeavour was in 1990, when she incorporated Rely Supply Ltd from a small enclosure near her residence then at Orimolade Crescent off Adeniyi Jones, Ikeja, Lagos with just two kits. The company’s desire was to be a broad based pharmaceutical company providing professional services in institutional supplies of drugs and medical equipment, design and marketing of the Rely range of First Aid Kits and workplace safety training as well as health information and consultancy services. Expectedly, starting off, like most entrepreneurial endeavour was not a smooth ride. Just like others too, access to finance was limited for Fayo as she only commenced business with a little savings she had gathered over time and borrowings from her family, particularly her husband. “Access to funds was one of the major roadblocks. At that time, it was not fashionable to lend Small and Medium Enterprises money, and if you wanted to grow your organisation to a certain level, you would need more working capital. So, what we did was to grow funds organically (internally). Eventually, with good record keeping and proper presentation and packaging of our proposals, the banks started listening to us. We always had an auditor, right from inception such that after the first eighteen months, we produced our first audited accounts and we have done it yearly since then,” she said.

approached her mentors (about three of them all together in the field of Pharmacy and two others in business all reputable and successful). Two of them inspected her current business location where she had earlier conducted a location analysis, risk mitigation and an informal marketing survey, before the actual settingup. That endeavour has tremendously transformed her business from that which operated from a small garage in her family compound to an acclaimed multipurpose company with an array of products and services that are ideal for use in homes, offices, vehicles, construction sites, sports centre, hotels, field operations, laboratories, ships, farms, and clubs among others. As a forward looking entrepreneur, when the global economic meltdown came calling, hitting every sector and businesses began to shrink with companies and individuals cutting down in medical allowances where Rely has carved its niche; Fayo had to don her proverbial “Thinking Cap.” As a way out of the quandary, the company in-

Williams

Another major challenge was that of acceptability. Fayo said that multi-nationals placed imported products at a higher priority than the locally made products but “we stuck to producing products of very high quality and when they saw this, they began to accept us.” As the business began to gain acceptance, Fayo discovered that the aviation, manufacturing, food and all other sectors were yearning for her products because prior to that time, there were no indigenous companies manufacturing the kits. Besides, a business survey and feasibility study she had conducted to “test the waters” prior to a launch, then revealed that the level of awareness on safety was, thus given her the assurances of a huge market potential. However, Fayo did not just jump into the business. As she admitted, she had to at a point, embark on the journey of personal development, where she discovered that experience is not usually the best teacher. She

troduced new related products to have a basket of products to stir increase in volume sales and liquidity. One of such is Safety Audit for homes, schools, companies where safety health professionals may be consulted to conduct private and corporate safety assessments. Today, Rely Supply Limited has become a broad-based pharmaceutical company, which has carved a niche for itself with unique range of home-grown First Aid kits. These kits are of life-saving value and are being used in various sectors of the economy, including oil and gas, manufacturing and aviation. In addition to the first aid kits, the company also markets the accessories and it is also involved in occupational health and safety training with First Aid. It supplies fire extinguishers and other safety/personal protective equipment; do bulk supply of drugs, medical equipment and consumables to institutions and corporate organisations. It offers consultancy services in pharmaceutical, medical and public health fields, environmental audit, safety and solution

Management Principles

Competitive Analysis Tips

ne of the first tasks for anyone trying to grow a business is to map out the competitive landscape. With a good understanding of the competition you face, you’ll be able to spot and exploit opportunities as they develop. Discussed here under are useful tips that would help you draw and refine your map, beginning with your earliest efforts to plan your new venture and continuing for as long as you stay in business. Become a customer: Visit competing establishments in the role of a customer. Ask lots of questions and take notes. Get in touch with these companies via phone and the Internet. Checking out a firm’s ability to serve you will reveal a good deal about your competition, good and bad and teach you a lot about your own business. If possible, don’t just pretend to shop from competitors, buy something, or engage their services. It’s the only way to gain firsthand knowledge of what it’s like to do business with the company. Investigate your competitors: One of the best ways to gauge your competition is by taking a little time to investigate the people who run the company. If there’s an appropriate setting in which to meet your competition face to face, do it. Find out which schools they attend, previous work experience and how long they’ve been in the business. You also need to know what their strengths and weaknesses are as well as their reputation. These sets of information can help you anticipate your competition’s moves. Buy shares in your competitors: If you’re competing against a publicly traded firm, consider buying a few shares of its stock. As a stockholder, you’ll receive regular updates on the firm’s financial results and business strategies, as well as information about the future plans of the company. There’s nothing unethical about learning about a company this way, and you may get invaluable

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slant provision and also trains potential entrepreneurs on how to run successful businesses. Fayo is an International Labour Organisation (ILO) certified first aid instructor and trainer, which includes entrepreneurial training for pre-retirement staff. She has attended several entrepreneurial courses at Fate Foundation, Pan African University among others. A Certificate in Entrepreneurial Management holder and Goldman Sachs 10,000 Women programme Scholar at the Enterprise Development Centre/ Lagos Business School (LBS); ‘Fayo Williams is also the managing consultant of Simply Exponential Consult Ltd, a Personal and Organizational Development Company. She has facilitated at numerous workshops on Business start-up/ growth, Goal – setting, Business Planning, Personal Finance etc.; served as Secretary, Human Capital Syndicate Group of the Chartered Institute of Bankers of Nigeria in 2004 and Chairperson, Conference Planning Committee of Nigerian Association of Industrial Pharmacists in 2007. She is also a director with Jols & Associate Ltd as well as TWA Investment Club and Green Pillars Nig. Ltd. She has served as Trainer/Resource Person on various seminars and workshops including those organised by Guiness Nigeria Plc, and Nigeria Employers’ Consultative Association (NECA). She had also co-organized facilitated various public and in-house seminars and workshops.

Personal Finance Performance review: Closing the gap between a self and supervisor’s review

Williams

Fayo is a facilitator with the New Vision Consults, a Nigerian leadership and attitude development company that is driven by the desire to provide organizations with a set of research based holistic leadership development skills and competencies tailored to their needs. New Vision Consult, which also has other distinguished Nigerians like Prof Pat Utomi, Mazi Sam Ohuabunwa, Mansur Ahmed and Udeme Ufot as facilitators has the desire to be a confident coach and guide to leaders and executive teams on leadership issues and for personal leadership development support and help organizations’ people/teams to grow and succeed

as leaders who will make valuable contributions to the organizations they work for and the society the live in. She is faculty member of the Nigerian Institute of Safety Professionals (NISP) and has handled HSE Competence Development Course for Shell Contractors for over eight years. She also possesses the Institute of Occupational Safety and Health (IOSH) Working Safely Certificate of Competence. She has also delivered several Occupational Health and Safety lectures in organizations such as NNPC – NAPIMS, Day Waterman College, Nigerite, Oando, and PHCN Egbin Power Station etc. BC

information: where you’re most likely to face direct competition, differences between your firms, and new ideas and markets for growing your own business. Talk to your competitors’ customers: Take an informal (or formal) poll of your competitors’ customers or clients. How did they originally choose where to spend their money? Why do they buy from your competitors? Is it because of the quality of the product or service, the price, the location, the customer support, or just habit? What do they dislike about a certain company? What do they wish that company would provide? Would they consider buying from you? If not, why not? If they would, what incentive might win them over? Assess the competition’s goals: The tactics that your competitors employ can be a good sign of their goals. A competitor trying to increase its market share might lower prices; a firm attempting to increase profits may cut costs; and a business that wants to accelerate sales growth might kick off a major marketing campaign. If you know your competitors’ goals, you’ll be better able to anticipate and respond to their strategies. Be aware of the potential for new competition: There’s a good chance that a lot of other people are trying to meet the need your business is trying to meet at the same time. This is especially true if you start a business in an emerging market. A national chain may not have entered your region yet -- but what if it does? Likewise, companies that don’t currently compete with yours might shift their focus and pit themselves against your firm. You need to be ever vigilant and alert to other companies stealing your business and preventing your company from thriving Don’t delegate job of keeping up with competitors: There are many jobs that it makes sense to delegate or hire out; keeping up with the competition is not one of them. This is too important. You might appoint someone to work with you on the task, doing research, tracking information, even brainstorming. But as the entrepreneur, you’re the one with the motivation, the knowledge, and the ultimate responsibility for understanding and acting upon information about the competition Have a broad definition of competition: Your competition includes anything that could draw customers away from your business. For example, movie theatres compete not only with other cinemas, but also with restaurants, live music venues, theatre, television, video rentals, and video games. Try to see the choice from the perspective of your client or customer; how would you choose to spend your precious time and money? What motivates you to go in one direction or another? What impediments stand in the way of customers choosing your business? BC

ncreasingly popular in today’s business world, a professional self-review is usually part of a broader evaluation process that encompasses other traditional forms of performance appraisal. Often, people writing self-reviews tend to undersell themselves, as it can be difficult to talk positively about yourself without fear of sounding self-important. In many cases, a supervisor’s objective assessment will be much more ebullient. However, there may be some distance between your own assessment of yourself and what your supervisor thinks and says about your work performance. You may be surprised when sitting down with your boss to learn that he or she had less positive things to say about your performance than you did. If you do experience such a disconnect when comparing reviews, these tips can help to bridge that gap and make the process a constructive one that helps get you closer to your career goals: * Consider the source: Just because a supervisor writes something negative (or positive) about your performance doesn’t necessarily make it true. Jealousy, resentment, and other negative emotions are inevitable in the workplace and must be dealt with. If you don’t agree with someone’s assessment of your work, calmly and professionally voice your concerns. Remember to focus on the job duties and not the personalities. The more you can highlight a task, the less personal the discussion becomes. *Carefully examine the gaps: Sometimes, there’s less distance between two points of view than you might think. In some cases, people use different language to say the same thing. Before you get upset by a boss’s appraisal, read between the lines and try to be objective. For example, if you notice that the responsibilities you describe are not the same as those set forth by your supervisor; look at the wording closely to determine if he or she is simply saying the same things differently. *Be open and flexible: This sounds easier than it is, but the more open you can be, the more chances you’ll have for success. Let’s say your boss remembered some circumstances — ones that hindered your performance — which you left out of your self-review. You may be surprised and taken aback by the inclusion of this information, but you can still learn from your supervisor’s assessment. It may be tempting to be defensive, but that kind of stance is unlikely to help you. Instead, consider his or her point of view. Don’t be afraid to ask for clarification. You may recall the “offence” but not consider it worthy of inclusion in a review. After some discussion your boss might even agree to remove it. *Ask questions: Asking questions leads to clarity, knowledge, and sometimes better reviews. When you sit down with your supervisor to discuss the intersection of your self-review and his or her assessment of your performance, ask as many questions as you can. *Embrace your fear: That sounds a little like New Age self-help, but when it comes to self-reviews, we all can use some extra assistance, especially when we can find it within ourselves. First, prepare for the process. In other words, familiarise yourself with the review process so that you can minimise the surprises. Fear of the unknown often magnifies stress and worry. By educating yourself you can break down some of that performance review stage fright. *Assemble a paper trail: Electronic communication may be more common these days, but a true paper trail can come in handy. Keep records of all your reviews so that you have something concrete to refer to the next time around. *Live and learn: Once the review process has been completed, see what you can learn for the next time. This isn’t the first time you’ll be reviewed and it certainly won’t be the last. Be sure to read Learning from Performance Reviews for tips on how to benefit from this experience. BC

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Behind d Wheels This page is open to sponsorship

By Adejuwon Osunnuyi

hough it is coming after 10 years of wait, the new model Triton from Mitsubishi is definitely a customer delight. There are more than enough unique features to make it well worth placing near the top of the shopping list. Mitsubishi’s long-serving Triton has always sold well in a crowded and competitive segment (Australia is second only to Thailand for Triton sales), but despite a highly successful runout campaign for the previous model, dealers have been hanging out for the new model. Mutsuhiro Oshikiri of Mitsubishi Motors Australia is one of the nicest automotive company CEOs you could ever hope to meet, and he has made sure his dealers and customers won’t be disappointed. “I’m glad Mitsubishi Motors see Australia as a very attractive place to test new models, mainly due to our broad mix of roads and environmental conditions,” he told Practical Motoring “but I’m more pleased testing on Australian soil has resulted in improvements to new Triton that suit Australian driver preferences for faster torque delivery and responsiveness.” Like others in the category, the Triton is sourced from Thailand. One can safely say it’s a major step forward in a number of important areas and ap-

pearances to the contrary, more than 80 percent of the vehicle is new. First up is the vital five-star ANCAP rating that makes the Triton a contender for fleet buyers in the mining and corporate sector who are precluded from buying anything rated lower. It’s also an important consideration for private buyers. It isn’t as strange as it sounds, because although the new-generation Triton is a better vehicle by almost every important measure, the petrol engine, when it arrives, will be essentially unchanged from the current engine. However, one very important difference for fleet and corporate buyers is that the outgoing model only rates four ANCAP stars, while the new model scores the full five-star rating demanded by so many corporate buyers. Initially, the Triton is being offered with a new 2.4-litre diesel engine, with a petrol engine arriving later. Body styles are the expected double cab, club cab and single cab. Models have aligned with other Mitsubishi models to start at the entry level GLX, mid-spec GLS and top line Exceed. The new engine is a 2.4-litre turbo-diesel producing 133kW at 3500rpm and 430Nm of torque at 2500Nm at 2500rpm. That’s a hefty increase over the outgoing 2.5-litre’s 100kW and 314Nm, although on pa-

per not a huge improvement on the High Performance Diesel’s 131kW and 400Nm (350Nm in the auto). The on-road improvement, however, is undeniable with a wider torque spread (25 percent extra at 1500rpm) combining with lighter weight to make the Triton (in any variant) feel highly responsive and flexible. Fuel consumption has come down by 11 to 21 per cent, rang-

ing from 7.0L/100km for the manual (an all-new six-speed unit) 4×2 GLX single-cab chassis to 7.6L/100km for the fivespeed auto as used in the Pajero (but tweaked for the Triton). The petrol version arriving later in the year will use the unchanged 94kW/194Nm 2.4-litre multipoint petrol engine. All models get Mitsubishi’s Easy Select 4WD system offering two-wheel drive high range,

four-wheel drive high and fourwheel low range. 2H and 4H can be selected at speeds up to 100km/h. GLS and Exceed models get the new-generation Super Select 4WD II system with four driving modes including locked 4WD. Torque is split 40/60 front to rear in full time 4WD. Triton’s slightly odd external design has become less polarising over the years, and the so-

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called “J-Line” styling feature has been retained on the double cab models. Since it frees up cabin and load space, and permits a far better rear seat back angle, that’s hardly a surprise. It was this design feature that pushed some competitors into redesigning their rear seats with varying degrees of success. The Triton has been given additional interior length and shoulder room. Retention of the three-metre wheelbase means a best-inclass 11.8 metre turning circle, with an improved steering rack reducing turns lock-to-lock from 4.2 to 3.8. External dimensions have grown by 15mm in length and 200mm in width. Height is unchanged. Rear overhang has come down 50mm while

front overhang has increased by 65mm for increased pedestrian safety. The arrival of a tilt and reach steering column is a major improvement. Tray sizes vary, depending on variant. Bed length in the double cab is 1.52m. Braked towing capacity is quoted at 3100kg, but before you start looking towards other vehicles quoted at 3500kg, this deserves closer attention. With a GCM rating of 5885kg, most Triton variants can carry a payload of more than a tonne. Mitsubishi suggests the Triton’s GCM rating and towball down-weight of 300kg gives it an advantage of 300kg in the tray when towing a full load on the towbar over its higher-rated rivals. Since owners rarely tow a full load with an

empty tray (or just a driver in the cabin), this is an important distinction. Pricing for the new Triton will please buyers, starting from $24,490 for the GLX, rising to $40,990 for the GLS and topping out at $47,490 for the wellequipped Exceed. Those prices are not so much different from what Tritons have been selling for over the past two years or so, given the widespread discounting. A very minor criticism is the location of the stability control button: it hides behind the steering wheel, and took a bit of blind fiddling to find when we wanted to switch it off for driving in sand. Both the manual and auto made a good showing and engine noise was remarkably subdued, even under load. It does emit a comforting diesel thrum, but it’s certainly not intrusive. An important change for owners is that the new engine uses a cam chain, so the previous requirement to replace the belt at 100,000km is gone. Moving from off-road to on, the Triton proved a willing performer – at one point we pulled out to pass a caravanner who happily ignored the ever-growing line of vehicles behind him and quickly accelerated the Triton to highly illegal speeds. The quality of the ride and smoothness of the engine misled me into thinking I was travelling closer to the speed limit until I glanced down at the speedo. The compliments keep coming: the seats are hugely improved, as is the seating position and, as mentioned earlier, the steering column is reach and height adjustable. All round, the Triton approaches sedan car standards of comfort, quietness and feel. There is commendable lack of bounce and the previous model’s tendency to get fussy when faced with small surface irregularities is gone. Once again, the comment is “very car-like”. A disappointment, although understandable in view of the need to keep the sticker prices low, is the omission of a rear view camera on all but the two dearest Tritons. Otherwise, it’s a $750 dealer-fit option, and one we’d strongly advise buyers to select. Tritons come with a list of standard equipment that is rapidly becoming expected in every category: active stability and traction control, hill start assist (although no downhill control), trailer stability assist, adjustable speed limiter and emergency stop signal function. On the GLS and Exceed models, standard gear includes LED daytime running lamps, full colour touch screen, dual zone climate control and reversing camera. Only the GLX is available as a single cab-chassis or club cab-chassis (sometimes called a space cab). BC

Autocare How to choose auto parts online

here are several advantages in buying auto parts online. Firstly, you get lot more choices in terms of price and quality. Secondly, the exact auto part that you are looking for may not be available in your local store, while there are many e-commerce stores to choose from that deal with the sale of auto parts. Finally, you would be spending lot of time travelling to get a component you need from a brick-and-mortar shop. This can be completely avoided when you shop online. Here are some tips for choosing auto parts online.

Know your vehicle’s model and make: Most automobiles have several variants, and each of these variants has auto components that are different. For example, even if make and model are the same between two cars, the different versions would mean that at least, a few components being used are different. It would be advisable to study the user manual well before embarking on any online purchase. Knowledge of automotive terminologies: For a layperson, the various terms for auto components used may be confusing .It pays to clarify with an expert or using the internet, failing which the entire transaction may become a waste of time and money. Understanding the components of the automobile and the various roles that they play would be extremely useful to anyone interested in online shopping. Unavailable parts: It is quite possible that some parts that you are looking for is not available in market early years of launching a vehicle’s launching. In that case, the only option is to look for a dealer who has these parts. Normally the components become available in the aftermarket once the automobile is on the road for a few years. Specifications check: All automotive components have very clear specifications. In case you purchase a wrong component, which may be just a little different from your actual requirement, you are left with a big headache of replacing the same with the right one. In that case, you would have to be dependent on the returns policy of the particular website and also the waiting time could be significant. Unbranded auto parts: Some components that can be purchased need not be from original auto parts manufacturers. These are also called generic parts and work with different automobiles. When you are purchasing generic parts, do look out for elements like warranty and also the track record to ensure that you get the best value for your money. Review and ratings: One thing that is a must while purchasing online is to search the internet for reviews and ratings of the online auto parts dealer. It would be preferable to find out how other customers have used the products and services of the online dealer and who have the same make and model as yours. This would give you a true sense if you are making a correct choice. Automotive discussion forums: There are several automotive forums on the internet, comprising car lovers who can give a lot of useful tips and suggestions on car maintenance. It is also a great place to find out about the parts you want and where you can buy them at a competitive price BC

A20 36

Business Courage

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

REGULATORS

PenCom sets N5bn as project value for Pension Fund investment T

he National Pension Commission, PenCom, has set the minimum value of individual projects that pension fund assets could be invested in at N5bn. It added that as much as 15 per cent of the total value of pension fund assets under management could be invested in infrastructure through Infrastructure Bonds and another 5 per cent of the total value of pension fund assets could be invested in infrastructure through Infrastructure Funds, making 20 per cent of the total value of accumulated pension asset. This was contained in the

Draft Regulation on Investment of Pension Fund Assets to guide Pension Fund Administrators, PFAs and other investors who have been agitating for the use of accumulated pension fund assets, now in excess N4.6trn, to develop infrastructure across the country. The Commission said, while expecting inputs from stakeholders and other interested parties, it has set the minimum value of individual projects that pension fund assets could be invested in at N5bn. It stated that as much as 15 per cent of the total value of pension fund assets under management could be invested

in infrastructure through Infrastructure Bonds and another 5 per cent of the total value of pension fund assets could be invested in infrastructure through Infrastructure Funds, making 20 per cent of the total value of accumulated pension asset. According to the Regulator, pension fund assets could be invested in infrastructure through either Infrastructure Bonds or Infrastructure Funds, saying both outlets must meet the conditions for the investment of pension fund in infrastructure before PFAs could channel pension fund assets into such investments.

The Regulator cited section 5.2.3 of the draft “Regulation on Investment of Pension Fund Assets” saying it provided that

pension assets could be invested in infrastructure projects through eligible Bonds, Sukuk subject to two major conditions. “The infrastructure project shall be not less than N5 billion in value and awarded to a concessionaire with good track record through an open and transparent bidding process in accordance with the due process requirements set out in the Infrastructure Concession and Regulatory Commission Act, ICRC Act and any regulation made pursuant thereto and certified by the Infrastructure Concession and Regulatory Commission, ICRC and approved by the Federal Executive Council, FEC,” PenCom said. Other conditions for the investment of pension assets on BC

submit their audited 2013 financial statements to NAICOM. Moreover, Alliance & General, Alliance & General Life Assurance Plc and Spring Life Assurance Plc, whose managements have been taken over by the commission, are also yet to submit their audited 2012 accounts. With 24 companies so far

submitted their 2014 accounts to the commission, investigation shows that, at least 80 per cent of insurance companies must have submitted their accounts by June end. Last year, some accounts of underwriting firms were delayed for different reasons, before they were finally approved by the commission. BC

Chinelo Anohu Amazu, PenCom Boss

‘24 insurance firms submit 2014 accounts’

4 out of 58 insurance companies in the country have submitted their 2014 financial accounts to the National Insurance Commission, NAICOM, as the June Deadline given to them to do so moves closer. This leaves about 35 insurance firms and one reinsurance company yet to submit their 2014 financial statements to the commission. The 24 compliant underwriting firms were said to have submitted their accounts in the required International Financial Reporting Standard,IFRS. Of these companies, the commission has approved the accounts of nine of them. They include; Consolidated Hallmark Insurance, Wapic Life Assurance Ltd, WAPIC Insurance Plc, Custodian and Allied Insurance Ltd, Custodian Life Assurance Ltd, Law Union & Rock Insurance Company, Mansard Insurance Plc, FBN Insurance Ltd, and Oasis Insurance Plc. Their accounts were approved after the regulatory authority deemed it fit to have met all the needed requirements as well as compliance to the new reporting format-IFRS. However, the commission is

Daniel

currently reviewing the accounts of Prestige Assurance Plc, Continental Reinsurance Plc, Mutual Benefits General Insurance, Royal Exchange Prudential Life, ARM Life Insurance, NSIA Insurance, Equity Assurance Plc and NEM insurance Plc In the same vein, NAICOM has queried the accounts of UBA Metropolitan Life Insurance

Company, AIICO Insurance Plc, Zenith Life Assurance Company Ltd, and Zenith General Insurance Company Ltd. On the other hand, Alliance &General Insurance, Alliance & General Life Assurance, Goldlink Insurance Plc, NICON Insurance Ltd, Spring Life Assurance Plc and UNIC Insurance Plc were said to have failed to

NAMA adopting new modalities on debt recovery - MD

anaging Director, Nigerian Airspace Management Agency, NAMA, Mr Ibrahim Abdulsalam, has said that the agency was working on new modalities to recover debts owed by local airlines. In a chat with aviation correspondents in Lagos, Abdulsalam said international carriers operating in Nigeria had been up to date in paying their charges to the agency. He said that if the debt owed

by the local carriers was not properly addressed it would lead to the grounding of services offered by NAMA and other agencies in the aviation industry. ``We should work out modalities for payment of debts owed by the airlines. That is why we are not releasing the figure they owe us. ``It is our local airlines that have been defaulting in payment; they are part of our sys-

tem and we have to be moderate with them. ``Nobody goes to fly on credit; you have to pay for the ticket. If we ground the airlines, people will be affected,’’ he said. He said that the agency had been discussing with a consultant of Arik Airline on the debt owed by the carrier. He said that NAMA would work with other agencies in the aviation industry to prepare for the International Civil Aviation

Organisation Security Audit, ICAOSA that would take place in June. The agency’s helmsman stated that the federal government had helped NAMA in paying off its debt on the Total Radar Coverage of Nigeria, TRACON, project. Abdulsalam said that the new Navigational Aids equipment just procured by the agency would be installed at six airports across the country. BC

NCRIB gets international recognition

he Nigerian Council of Registered Insurance Brokers (NCRIB) has scored another high point in its international recognition as it was admitted as a member of LIMRA, a world acclaimed financial services research consultancy. Conveying the NCRIB admission during the 2015 International Business trip of the Council’s delegates to Malta, Europe, the Operation Head of LIMRA Europe, Middle East and Africa, Carla Baldivia said with the admission, NCRIB would now have access to the database of the association and be able to access yearly global financial reports by the body. “As a LIMRA member, your

Council will now have access to all the research, webinars and market facts in addition to the information centre that gathers resources from more than 128 periodicals” Baldivia noted. Responding to the award, the President of the NCRIB, Mr. AyodapoShoderu who led the Council’s delegation noted that the NCRIB has a vision of exploring all avenues to place the Council and its members on the global plane. He said, coming on the heels of similar admission by the British Insurance Brokers Association ,BIBA, Shoderu opined that the challenges before NCRIB members was now higher in a bid to match up with its growing global reputation.

Also, during a lecture on Customer Service, Brokers were told to imbibe multiple integrated channels of customer service in order to meet the yearning needs of today’s clients. According to Senior Regional Executive of LIMRA, Mr. ManolisKyriacou, current and future customers have high expectations for service quality through all channels they could utilize to connect with the provider “Insurance intermediaries that successfully deliver their services competently will most often improve relationship and outcomes with their policy holders” As the world’s leading insurance and financial services trade association, LIMRA’s purpose is

to be the Trusted Source of Industry Knowledge. It currently provides Research, Learning and Development programs to more than 850 financial services companies throughout the world. Serving its members for nearly 100 years, these financial services firms turn to LIMRA first for Research, serving as a catalyst for new ideas, to better understand the industry, and plan for the future, learning and development programs, to assess, train, and increase distribution productivity, as well as develop the next generation of corporate leaders and connections with industry leaders and peers through study groups, committees, and conferences. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, May 4, 2015

A21 37

Stock market last week Equities he market opened for four trading days last week as the Federal Government of Nigeria declared Friday May 1, 2015 a public holiday to mark the Workers’ Day celebration. Meanwhile, a turnover of 1.169 billion shares worth N11.961 bn in 17,769 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 2.064 billion shares valued at N17.179bn that exchanged hands last week in 25,577 deals. The Financial Services Industry (measured by volume) led the activity chart with 796.234 million shares valued at N6.200bn traded in 10,081 deals; thus contributing 68.13 per cent and 51.83 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with a turnover of 239.230 million shares worth N862.503m in 1,157 deals. The third place was occupied by the Consumer Goods Industry with 46.984

million shares worth N2.435bn in 2,811 deals. Trading in the Top Three Equities namely- Transnational Corporation of Nigeria Plc, United Bank for Africa Plc and Access Bank Plc, (measured by volume) accounted for 460.340 million shares worth N1.979 billion in 2,903 deals, contributing 39.39% and 16.55% to the total equity turnover volume and value respectively. ETPs Also traded during the week were a total of 11,737 units of Exchange Traded Products (ETPs) valued at N1.799 million executed in 15 deals compared with a total of 2.942 units valued at N70.679m transacted last week in 47 deals. Retail bonds A total of 330 units of Federal Government Bonds valued at N370,698.04 were traded this week in 2 deals compared with a total of 9,450 units of Federal Government Bonds valued at

N10.824 million transacted last week. Index movement The NSE All-Share Index and Market Capitalization appreciated by 0.64 per cent and 0.30 per cent respectively to close on Friday at 34,708.11 and N11.787trn. Similarly, four Indices finished higher during the week with the exception of the NSE Banking, NSE Insurance and NSE Oil and Gas indices that declined by 1.69 per cent, 2.34 per cent and 6.87 per cent respectively. However, the NSE ASeM Index closed flat. Summary of price changes Thirty-one equities appreciated in price during the week, lower than 42 equities of the preceding week. Forty-one equities depreciated in price, higher than 33 equities of the preceding week, while one 120 equities remained unchanged, equal with the preceding week.BC

FMDQ earns N1.75 bn revenue in 2014

he Financial Market Dealers Quotations, FMDQ, OTC Plc has declared N1.75bn as revenue for the year ended Dec. 31, 2014. The company had earlier in 2013 earned revenue of N155.65m. Dr Sarah Alade disclosed this at the company’s third Annual General Meeting, AGM, held in Lagos. She said that transaction fees during in the period under review accounted for 91.29 per cent of the revenue following their decision to charge for the full year. Alade said that the company also recorded a profit before tax of N708.52m compared with a loss before tax of N133.36m declared in 2013. Profit after tax stood at N547.93m against a loss after tax of N133.35bn achieved in 2013. Shareholders’ funds rose

to N1.09bn compared with N541.29m recorded in 2013. Alade said that the company would focus on product and market development initiatives to promote price discovery on the platform and enhance transparency in the market. She assured investors that

Onadele

the company was poised to reposition the Nigerian fixed income and currency market to become more globally competitive and support the nation’s economy. Alade also said that the company focused on activating and developing its functions in the areas of market and business development, Legal, Regulatory, operations and technology in 2014. She said that the current board members were committed to building on the progress made by its predecessors in becoming number one in Africa in the fixed income and currency markets by 2019. FMDQ Managing Director, Mr Bola Onadele, said that the company would continue to focus on key business development initiatives to improve market liquidity, transparency, credibility and integrity to improve revenue. BC

Market Indicators for Week Ended 30-04-15 All-Share Index 34,708.11 points Market Capitalization 11,795,532,837,789.04 Stock Updates GAINERS COMPANY

OPENING PRICE

CLOSING PRICE

CHANGE

PRESCO PLC2

6.00

30.09

VITAFOAM NIGERIA PLC

4.40

4.83

9.77

A. G. LEVENTIS (NIGERIA) PLC

1.55

1.70

9.68

ASSOCIATED BUS COMPANY PLC

0.58

0.63

8.62

CONTINENTAL REINSURANCE PLC 0.88

0.94

6.82 6.33

CUSTODIAN AND ALLIED PLC

15.73

3.95

4.20

UNILEVER NIGERIA PLC

40.00

42.31

5.78

DANGOTE CEMENT PLC

175.00

184.50

5.43

40.00

42.00

5.00

3.60

3.78

5.00

UAC OF NIGERIA PLC RED STAR EXPRESS PLC

LOSERS COMPANY

OPENING PRICE

UNITY BANK PLC

CLOSING PRICE

5.00

CHANGE

3.89

-22.20

DANGOTE SUGAR REF PLC

7.23

6.11

-15.49

AIICO INSURANCE PLC

1.14

1.02

-10.53

FORTE OIL PLC

197.60

177.65

-10.10

MAY & BAKER NIGERIA PLC

1.80

1.63

-9.44

BERGER PAINTS NIGERIA PLC

9.99

9.07

-9.21

178.00

162.00

-8.99 -8.85

7-UP BOTTLING CO PLC NEIMETH INTL PHARM PLC

1.13

1.03

P. Z. INDUSTRIES PLC

31.23

28.50

-8.74

UACN PROP DEVP CO. PLC

11.75

10.78

-8.26

Treasury Bills Maturity date

Bid

Offer

30-Jul-15

12.09

15-Oct-15

12.49

12.46 13.25

21-Apr-16

13.11

15.03

Primary Market Auction TENOR

AMOUNT (N’mn)

91-Day

21538.34

182-Day 364-Day

RATE (%)

DATE

9.95

10-April-15

33783.25

10.1

24-April-15

59081.14

10.35

24-April15

A22 38

Business Courage

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Dangote Cement: finance cost, debts drag down profit By Johnson Okanlawon

angote Cement, though still the most expensive cement company amongst its peers, the stocks appear to be off investors’ preference in the recent times, as overcapacity in the sector coupled with slow demand is expected to keep profit margins of all players under pressure. The company with highest market capitalisation on the Nigerian Stock Exchange, about 26 per cent of the market capitalisation is not given expected dividend in the financial year ended December 31, 2014. The finance cost of the company and its inability to recover debts have dragged the company turnover lower. Hence, the shareholders will receive dividend of N6 per share for the review year. Profitability The company ended the year with gross revenue of N391.6 billion, a marginal decline of 1.4 per cent from the N386.2 billion recorded in 2013, while cost of sales rose 9.6 per cent from N130.5 billion to N143.2 billion. Administrative expenses increased from N25.9 billion to N27.7 billion, while sales and distribution rose from N35.5 billion to N37.4 billion, an increase of 5.2 per cent. Other income increased from N1.7 billion in 2013 to N3.6 billion in 2014. However, an increase in finance cost from N13.7 billion in 2013 to N32.9 billion and a tax payment of N25. 2 billion, combined to push down the profit after tax by 21 per cent from N201 billion to N159.5 billion. The company recorded a 5.8 per cent increase in operating expenses (administrative, selling and distribution expenses) from N61.5 billion in 2013 to N65.1 billion in the review period. It has recorded a continuous growth in operating expenses in the past four years, averaging 30 per cent (2011- 2014). The growth recorded in the operating expenses in the review period was largely driven by a 6.41 per cent increase in administrative charges to N27.66 billion, which emanated as a result of increase in staff costs, salary increases and the start of operations at Sephaku coupled with non-capitalisable expenses incurred for projects under construction. Liquidity For the financial year ended December 31, 2014, the company assets and shareholder’s

Dangote cement company

fund accompanied by increasing financial leverage. Its total assets increased by 16.8 per cent to N984.72billion, from N843.20billion recorded in the same period of 2013. This is predominantly driven by investment in non-current assets on the back of N217billion investment across the Africa continent. In addition, shareholders’ fund recorded a growth of 8.94 per cent year-on-year to N612.34billion, from N562.1billion in 2013. This is even as current and long term liabilities accelerated by 40.60 per cent and 18.27 respectively. Cash position remains relatively weak at N20.60billion, from N70.50 billion in the corresponding period of 2013, a decline of 70.80 per cent. This was as a direct result of the company’s increase in credit sales, relaxed credit policy and slow pace of cash collection as indicated by the 52.35 per cent increased in trade debtor. However, gross indebtedness increased by 31 per cent in the review period to N222.14billion, from N169.16billion in 2013. This led to a debt-to-equity ratio of 36 per cent, from 13:3 per cent in 2013. The company’s debt to equity ratio appears to be increasing but still at a comfortable level (i.e below 40% threshold) given that cement industry is highly capital intensive. Debt to asset ratio increased marginally to 22 per cent from 20 per cent recorded in the preceding year. Business strategy The company continued expansion with the commitment of over $5billion for expansion across 13 African countries. The

company recorded a significant investment in 2014 as capital expenditure surged significantly by 55.14 per cent on the back of its pan Africa investment. The company’s ongoing greenfield project across major Africa countries is expected to come on stream by 2015/2017 leading to total capacity of 44mtpa from current capacity of 34.05mtpa. The company announced recently that it has commenced operation in Senegal with nominal plant capacity set at 4000MT per day and 1.2 mtpa. The plant has a total production capacity of 1.5million tonnes annually. Senegal with a population of 14 million people has cement market of 3mtpa, which implies that the market has overcapacity. Hence, the company planned to exports to Mali and Gambia where demand for cement are both high through the rail. Given the over-capacity of the market and the marketing strength of the domestic players, break- even for the Senegal plant might take a little longer. However, the company’s operational advantage lies on its ability to build modern, energy- efficient factories that will provide strong competition for many of Africa’s ageing cement plants. Outlook Research analysts at DLM Securities Limited, an investment firm said in anticipation of an absolute market price war, the company has diversified its product offering by producing different grades of cement, concrete blocks and ready-mix concrete. It also try to use discount pricing as a tool to segment the market in anticipation that the

industry is likely to face more pricing pressure on the back of excess production capacity, but the sustainability of this strategy remains doubtful. With excess capacity expected to remain in the Nigerian market, the firm said, the company will have to continue to absorb increasing production costs. For 2015 financial year, demand for cement in Nigeria is likely to be affected by declining government spending on the back of dwindling crude oil prices. “With all capacity concentrated in Africa with massive infrastructural development, we expect expansion in demand in other regions of the continent to boost overall profit in the years ahead with improved margins due to economies of scale. In addition, changes in energy mix along with other cost measure are expected to keep margins at higher levels than industry peers. With the benefit of new cement capacity of 34.05 metric tonnes, we expect sales volumes to grow to 14.5 metric tonnes on the back of stronger demand in regional operations; this is in addition to the newly commissioned Senegal plant which began operation December 2015. “We anticipate improvement in capacity utilisation to reach 80 per cent on the back of expected improvement in power supply due to expected energy mix across its Nigeria plants. Further, we expect realisations to improve progressively due to limited capacity addition coming on stream in Nigeria. In our view, the ban of cement importation in Cameroon is favourable to the company. Hence, we expect the company to take advantage

of this initiative to drive sales volume with aggressive market penetration and consolidation,” the firm said. Analysts’ opinion “We update our share recommendation for Dangote Cement (Dangcem) following the release of 2014 financial performance numbers and hereby maintain a cautious outlook on the company’s stock,” analysts at DLM said. It explained that the company’s results came in below estimates as low realizations supported by weak pricing strategy drove the underperformance. “In our view, it appears the company has challenges in implementing pricing strategies, driven by higher supplies and inventory build-up. The company’s financials appears to bear the risk of higher financial charges through increase in interest rates and the impact of the naira devaluation. “On the other hand, its ongoing expansion appears to be enhancing its long term profitability and dominant presence in the market. However, sales volumes contracted by 0.20 per cent to 13.97metric tonnes despite the pricing strategy initiated to drive volumes,” the firm added. It explained further that given its capacity advantages, it is more favoured to benefit from the opportunities in the industry, especially when the conditions within domestic economy improve and industry volumes begin to accelerate. Furthermore, visibility of investments in upgrading clinker capacity remains strong in relation to its domestic peers. BC

National Mirror www.nationalmirroronline.net

Business Courage

Monday, May 4, 2015

A23 39

STOCKWATCH Stock Exchange weekly equities summary as at Thursday, April 30, 2015 SECURITY

PRICE (=N=)

AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC 0.50 OKOMU OIL PALM PLC. 27.41 PRESCO PLC 30.09 Fishing/Hunting/Trapping ELLAH LAKES PLC. 4.26 Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 2.33 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. 1.70 CHELLARAMS PLC. 3.95 JOHN HOLT PLC. 0.94 SCOA NIG PLC 4.44 TRANSNATIONAL CORP. OF NIG.PLC 3.20 U A C N PLC. 42.00 CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. 5.30 CAPPA & D’ALBERTO PLC. NT Building Structure/Completion/Other COSTAIN (W A) PLC. 0.87 G CAPPA PLC 14.46 Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 51.70 ROADS NIG PLC. 6.29 Real Estate Development PINNACLE POINT GROUP PLC NT UACN PROPERTY DEV 10.78 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. 7.39 GOLDEN GUINEA BREW. PLC. 0.93 GUINNESS NIG PLC 170.00 INTERNATIONAL BREWERIES PLC. 21.49 JOS INT. BREWERIES PLC. 2.02 NIGERIAN BREW. PLC. 157.01 PREMIER BREWERIES PLC 3.61 Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 162.00 Food Products BIG TREAT PLC NT DANGOTE FLOUR MILLS PLC 4.89 DANGOTE SUGAR REFINERY PLC 6.11 FLOUR MILLS NIG. PLC. 35.74 HONEYWELL FLOUR MILL PLC 3.28 MULTI-TREX INTEGRATED FOODS PLC 0.50 N NIG. FLOUR MILLS PLC. 18.05 NATIONAL SALT CO. NIG. PLC 8.25 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. 950.00 Household Durables BETA GLASS CO PLC. NT NIGERIAN ENAMELWARE PLC. 31.82 VITAFOAM NIG PLC. 4.83 VONO PRODUCTS PLC. 1.03 Personal/Household Products P Z CUSSONS NIGERIA PLC. 28.50 UNILEVER NIGERIA PLC. 42.31 Textiles/Apparel UNITED NIG. TEXTILES PLC. NT FINANCIAL SERVICES Banking ACCESS BANK PLC. 5.99 DIAMOND BANK PLC 4.60 ECOBANK TRANSNATIONAL INC. 20.70 FIDELITY BANK PLC 1.86 FIRST CITY MONUMENT BANK PLC. NT GUARANTY TRUST BANK PLC. 28.75 INTERCONTINENTAL BANK 13.50 SKYE BANK PLC 2.50 STERLING BANK PLC. 2.29 U B A PLC 5.29 UNION BANK NIG.PLC. 10.22 UNITY BANK PLC 3.89 WEMA BANK PLC. 0.98 ZENITH BANK PLC 21.15 Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC 0.50 AIICO INSURANCE PLC. 1.02 CONFIDENCE INSURANCE PLC NT CONSOLIDATED HALLMARK INS. PLC 0.50 CONTINENTAL REINSURANCE PLC 0.94 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 0.51 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 3.00 MUTUAL BENEFITS ASSURANCE PLC. 0.50 N.E.M INSURANCE CO (NIG) PLC. 0.72 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 0.52 Micro Finance Banks FORTIS MICROFINANCE BANK PLC 5.42 NPF MICROFINANCE BANK PLC 1.32 Mortgage Carriers, Brokers &Services ABBEY MORTGAGE BANK PLC 1.30 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 2.85 CUSTODIAN AND ALLIED INS. PLC 4.20 CRUSADER ( NIG) PLC. NT DEAP CAPITAL MGT & TRUST PLC 0.67 FBN HOLDINGS PLC 9.80 FCMB GROUP PLC 3.34 ROYAL EXCHANGE PLC. 0.55 STANBIC IBTC HOLDINGS PLC 29.45 SIM CAPITAL ALLIANCE VALUE FUND 103.24 NIGERIA ENERGY SECTOR FUND 552.20 UBA CAPITAL PLC 1.53 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 30-04-15

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 0.40 15.73

0.50 27.30 26.00

4.26

60,000,000

0.00

N/A

4.26

1,249,104

7.18

0.68

1,199,549,736

0.07

0.87

2.31

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

8.97 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

1.56 3.95 0.94 4.44 3.20 40.00

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

0.84 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

0.00 N/A

51.70 6.29

NT 324,368

7.28 20.90

7.28 8.82

1,375,000,000

0.00 2.20

N/A -8.26

NT 11.75

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 1.19 N/A N/A 3.98 N/A

7.54 0.93 168.00 21.70 2.02 151.00 3.61

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 0.82 -15.49 -3.38 -3.53 N/A N/A -4.07 N/A 0.00 N/A

NT 4.85 7.23 36.99 3.40 0.50 18.05 8.60 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 0.21

40.00 948.00

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 9.77 N/A

NT 31.82 4.40 1.08

156,973 119,119

56.00 76.00

21.02 27.60

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

1.34 1.42

-8.74 5.78

31.23 40.00

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

-5.07 -1.92 0.98 -2.11 #VALUE! 2.28

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

-6.72 -2.97 -0.56 -7.26 0.00 2.08 -3.86

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 -5.96 N/A 4.35 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 1.14 NT 0.50 0.88 0.50 NT 0.50 0.53 0.50 0.50 NT 0.50 0.5 0.50 0.50 0.50 3.19 0.50 0.69 0.50 NT 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.55 5.42 1.39

0.63

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

6.31 4.69 20.50 1.90 NT 28.11 13.50 2.68 2.36 5.32 11.02 5.00 0.96 22.00

N/A N/A -6.67 N/A 2.79

0.29

1.30 0.50 1.42 0.50 0.5 2.74 3.95 NT 0.67 10.50 3.37 0.55 28.65 103.24 552.20 1.48

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. 1.99 FIDSON HEALTHCARE PLC 3.32 GLAXO SMITHKLINE CONSUMER PLC 55.00 MAY & BAKER NIGERIA PLC. 1.63 NEIMETH INT PHARM PLC 1.03 NIGERIA-GERMAN CHEMICALS PLC. 6.32 PHARMA-DEKO PLC. 2.13 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. 12.19 TRIPPLE GEE AND COMPANY PLC. 1.77 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 19.95 BERGER PAINTS PLC 9.07 CAP PLC 35.66 CEMENT CO. OF NORTH.NIG. PLC 11.59 DANGOTE CEMENT PLC 184.50 DN MEYER PLC. 0.83 FIRST ALUMINIUM NIGERIA PLC 0.50 IPWA PLC 0.50 PREMIER PAINTS 10.93 LAFARGE WAPCO PLC. 94.00 PAINTS & COATINGS MANFACT.PLC 1.33 PORTLAND PAINTS & PRDT NIG. PLC 3.83 Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC 2.09 CUTIX PLC. 1.74 NIGERIAN WIRE AND CABLE PLC. 0.50 Packaging/Containers ABPLAST PRODUCTS PLC. NT AVON CROWNCAPS & CONTAINERS 1.59 BETA GLASS CO PLC. 30.00 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. 5.21 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 18.00 Petroleum &Petroleum Products Distributors BECO PETROLEUM PRODUCT PLC 0.5 CONOIL PLC 36.21 ETERNA PLC. 2.72 FORTE OIL PLC. 177.65 MOBIL OIL NIG PLC. 150.00 MRS OIL NIGERIA PLC. 50.54 TOTAL NIGERIA PLC. 155.50 Exploration and Production SEPLAT PETROLEUM DEVT. CO, LTD. 377.00 SERVICES Advertising AFROMEDIA PLC 0.50 Apparel Retailers LENNARDS (NIG) PLC. 3.15 Automobile/Auto Part Retailers R T BRISCOE PLC. 1.01 Courier/Freight/Delivery RED STAR EXPRESS PLC 3.78 TRANS-NATIONWIDE EXPRESS PLC. 1.22 Employment Solutions C & I LEASING PLC. 0.52 Hospitality TANTALIZERS PLC 0.50 Hotels/Lodging CAPITAL HOTEL 4.28 IKEJA HOTEL PLC 3.86 TOURIST COY NIG PLC 3.51 TRANSCORP HOTELS PLC 9.63 Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 Printing/Publishing ACADEMY PRESS 1.06 LEARN AFRICA PLC 1.43 STUDIO PRESS (NIG) PLC. 2.30 UNIVERSITY PRESS PLC. 4.83 Road Transportation ABC TRANSPORT PLCPLC 0.63 Specialty INTERLINKED TECHNOLOGIES PLC 4.66 SECURE ELECTRONIC TECH.PLC 0.5 Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 2.20 NIG. AVIATION HANDLING COY PLC 6.30 SUPPORT AND LOGISTICS CAVERTON OFFSHORE GROUP PLC 3 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

0.00 -0.90 2.90 -9.44 -8.85 N/A N/A

1.99 3.35 53.45 1.80 1.13 6.32 2.13

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 12.19 1.77

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 3.8 2.25 3.08 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 -3.01 -9.21 0.00 0.00 5.43 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

1.08 N/A N/A

2.72 20.57 9.99 35.66 11.59 175.00 0.83 0.50 0.50 10.93 93.00 1.40 3.84

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 0.00 N/A

2.09 1.74 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 1.59 28.70 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

5.21

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

-8.16

19.60

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

0.00 -6.21 -10.10 -1.35 N/A -4.28

0.5 36.21 2.90 197.60 152.05 50.54 162.45

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

398.00

0.00

N/A

0.50 3.15

980,294,400

0.00

1.01

589,496,310 198,819,763

0.52 0.00

5.00 N/A

3.60 1.17

4,059,547

1.64

0.85

865,808,912

0.00

N/A

0.52

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

2.12

4.28 3.78 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 2.77

1.06 1.50 2.30 4.70

955,140

1.29

0.50

1,507,000,000

0.21

N/A

0.58

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

4.66 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 -3.08

2.20 6.50

189044

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, May 4, 2015

National Mirror www.nationalmirroronline.net

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Law & Justice nationalmirrorlaw@yahoo.com

‘It is fundamental rule of the construction of statutes and more importantly the constitution that a legislature is presumed not to have intended to exceed its jurisdiction’ -Justice Adolphus Karibi-Whyte, Retired Justice of the Supreme Court

Our national laws obsolete, due for review –Ojo 42 President Jonathan

Mark, Senate president

Only S’ Court can decide rift between President, lawmakers –SANs How Macaulay’s children tussled over late father’s estate 45

Captain in South Korean ferry sinking receives life sentence 46

As the festering controversy between the Presidency and the National Assembly over purported amendments of some provisions of the 1999 Constitution continues, the battle ground has shifted to the Supreme Court, which is vested with exclusive jurisdiction to determine the issue, writes WALE IGBINTADE, who sought the views of some lawyers.

he ongoing confrontation between the executive and the legislative arms of government over legality of the procedure adopted by the lawmakers, as well as the constitutional validity of some amendments in the Fourth Alteration to the 1999 Constitution is already before the Supreme Court. President Goodluck Jonathan drew the battle line when in a letter addressed to both chambers of the National Assembly, he objected to the validity of the procedure and the validity of some amendments carried out by the legislators. In his detailed letter which was read on the floor of the Upper chamber by Senate President, David Mark, President Jonathan accused the lawmakers of usurpation of executive power and whittling down of certain powers inherent in the President’s office as part of reasons for withholding his assent. The constitutional powers of the National Assembly to make laws are spelt out under Section 58 sub-sections 1, 2, 3, 4 and 5 of the 1999 Constitution. Subsection 1 provides that “the power of the National Assembly to make laws shall be exercised by bills passed

by both the Senate and the House of Representatives and, except as otherwise provided by subsection (5) of this section, assented to by the President’’. Sub-section (2) says ‘’A bill may originate in either the Senate or the House of Representatives and shall not become law unless it has been passed and, except as otherwise provided by section 59 of this Constitution, assented to in accordance with the provisions of this section’’. According to sub-section (3) ‘’Where a bill has been passed by the House in which it originated, it shall be sent to the other House, and it shall be presented to the President for assent when it has been passed by that House and agreement has been reached between the two Houses on any amendment made on it. Sub-section (4) says that ‘’Where

a bill is presented to the President for assent, he shall within thirty days thereof signify that he assents or that he withholds assent’’. In line with sub-section (5) ‘’Where the President withholds his assent and the bill is again passed by each House by two-thirds majority, the bill shall become law and the assent of the President shall not be required”. In order to avert a situation where the lawmakers will invoke provisions of Section 58 (5) of the constitution and override the President’s veto, the Federal Government hurriedly instituted a suit before the Supreme Court, urging the court to stop the lawmakers from taking any further step towards passing the Fourth Alteration Act, 2015 into law. The Federal Government (FG) is also seeking for an order nullifying

THE LEGISLATURE, WITH DUE RESPECT, HAS TRIED TO ASSERT POWERS THAT THE CONSTITUTION DID NOT ASCRIBE TO IT. IN MY VIEW, I DESCRIBE IT AS A COUP ON THE ENTIRE PRESIDENTIAL DEMOCRACY

all proposed amendments to the 1999 Constitution. In the originating summons filed by Chief Bayo Ojo (SAN) on behalf of the Attorney-General of the Federation and Minister of Justice, the FG is asking the apex court to nullify and set aside sections 3, 4, 12, 14, 21, 23, 36, 39, 40, 43 and 44 of the Fourth Alteration Act, 2015 passed by the National Assembly. The FG contended that the purported Fourth Alteration Act 2015 was not passed with the mandatory requirement of majority members of the National Assembly as required by the constitution. It also claimed that supposed Fourth Alteration Act 2015 contains many amendments inconsistent with the spirit of federalism, separation of powers and checks and balances. When contracted, most senior legal practitioners expressed confidence that the apex court would resolve the issue once and for all. Speaking on the issue, a former President of the Nigerian Bar Association (NBA) Chief Joseph Daudu (SAN) described the amendments as “a coup against the office of the President”. Daudu who spoke on a televiCONTINUED ON PAGE 44

Law & Justice

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Our national laws obsolete, Adekunle Ojo is a consummate Bar activist and former second VicePresident of the Nigerian Bar Association (NBA). In this interview with MATTHEW IRINOYE, he speaks on causes of election violence, agenda for the incoming administration, and issues in the National Conference report among others. Excerpts: The interim report on gubernatorial poll released by INEC recently showed that 66 violent incidences were recorded in 19 States of the Federation. How will you react to this? Though the violence at the just- concluded election was not much as expected, but permit me to have a contrary opinion especially on why do we usually have violence during the election periods, actions and reactions to certain quarters. If being checked very well, places where there were violence is either the wishes of the majority was going to be truncated or people were going to be disenfranchised by persons who had no business in participating in the business of election. Violence becomes the main thing when a candidate at all cost wants to impose himself on the people, violence was almost zero in Bayelsa State because it was cleared that majority of the people there were going to vote for a particular party. In Rivers State it was a different ball game and in Akwa Ibom State it was another scenario, I think there is need to say that some people can be fooled at one time but all the people cannot be fooled at all time. There would be a time for people to say we are not going at a particular direction but to the other direction. When a particular set of people are having enormous support from security agencies or they have some people behind them who ordinarily can go to any length to ensure that they get what they want. These men are being called militia men or destroyers because basically there should be no reason why a government should tolerate such persons to exist within the society. It is no longer a rumour that a deputy Inspector-General of Police was sent to a particular state but if the man was not going to have interest of any political party behind him then there was no need to send him back to the state. By and large, one can easily say that there are so many reasons why we usually experience violence during the elections exercise. Without mincing words, some of the election violence experienced in some states were allowed by the states; if the government says that they are not going to allow it, stay by it and ensure it does not happen. It seems that violence drastically reduced during the election, what is your reaction to this?

Ojo

SOME MAGISTRATES AND JUDGES OF THE HIGH COURT ARE THE CONTRIBUTING FACTORS TO CONGESTION OF PRISONS BECAUSE THE PRETRIAL SYSTEM IS NEVER UTILIZED I think basically the Nigerian Police should be commended for their tireless efforts made during the last elections exercise especially gubernatorial election poll, where they never recorded violence. This was because people were careful, the Police and other security agents did their job accurately. The persons that were pro-violence expected that even if they allowed the security agencies to do their job they would still win and if one checks very well the winning margin was so close, there was not too lopsided on those who eventually won. There was a scenario where some parties believe there is no need to disturb the election process believing they can still win. For example in Lagos State, Oyo State, Ogun State especially in the South-West, by and

large the Nigerian Police is a big factor if they tolerate violence it will happen but if they insist I am very sure that nothing of such will happen, in places where violence happened it was deliberately tolerated and where violence happened aside the Police factor, it was because people were not happy with the outcome result of the poll. I think as a nation we have to be very careful especially with the comments of the foreign observers on Rivers State and Akwa Ibom State. This indicated that the crisis and the violence that erupted in those areas were inflicted by those who want to hold on to the offices at all cost. How do you see the emerging culture in Nigeria politics where losers now accept

defeat rather than contesting the election results in Tribunal? It has always been like that, there was a man Elder Imo, he was supposed to have won an election against Adolphus Wabara, he was at the tribunal even the complications showed that he won but at a point we were told that some people calculated the salary and the allowances he ought to have gotten within the period of four years and promised to give him then he came out publicly so say that he did not win the election, so if someone says he did not win what else can any other man say again. To some of us it is not an emerging trend; it is about looking at the indices. For instance, if someone wins in Kano State with 1.9million votes peradventure Kano State must have been rigged, the other person says he won in Delta State with 1.2million votes and in Rivers State he won with 1.4miillion votes, if being asked the whereabouts of people that voted and one party insists that it must go to tribunal basically It will generate the reactions. So I think if someone has lost and he says he does not want to contest it, it is his opinion and for those

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Monday, May 4, 2015

due for review –Ojo who think there is need to contest it I cannot blame them because it is their rights they are exercising. So if party ‘A’ has chosen to congratulate party ‘B’ it is their right and if the other party decided to do otherwise it is their own cup of tea. By and large, I don’t see it as emerging rather it is supposed to be a culture that would permeate all hands, if one is defeated and has been rightly defeated, throw in the towel. Rather than fighting on the streets I think it is right to contest the election at the tribunal but I think there should not be any applause given to anybody for either conceding the defeat or contesting the election at the tribunal, both of them are right. What agenda would set up for the incoming administration ahead of May 29 handover date? Looking at what is on ground now I think that Nigeria as a country has been unusually set up by the legal frame work that governs us. I said that with the view of national laws, the national laws have become very obstinate and there is need for a review, if the laws are not reviewed the country cannot move forward beyond where it is presently. For instance, we need to deregulate from a situation when the State government wants to construct a rail lines and it has to be permitted by the Federal Government, let it be that each state can go into the mining of the resources in its state, develop it at its own expense and in that wise, the emphasis on crude oil will drastically reduced. By so doing, it will be obvious that Nigeria as a country does not necessary need to rely on oil before the country can make progress. Besides, there is need to look into the constitution, I pray that the new National Assembly will do better, the idea of setting up National Conference is not necessary, what the consistent legislative arms should do is to bring together all the constitutions we have had in the previous and the present and reconcile and look at them which one should be the way for Nigeria to move forward. The Federalism can be done the way it should be done and devolution of powers in Nigeria can be done the way it should be done, there are many things we can do in this country that everybody will be better for it. By and large, we have our laws, if the President, the National Assembly and the States Executive Governors decide that law should reign the law will prevail and it will go a long way in ensuring that we get to a better position even in the nearest future. For instance, we need laws to back electricity to make sure that everything works out well, can each local government run its own electricity supply on their own as well as each state of the federation instead of relying on the federal government to do everything, if we don’t allow the law to take its place this country cannot move forward. I think the president- elect should critically look into this area which has held the country bound and I believe that his disposition in this aspect will help Nigeria to get on the safe track.

Law & Justice

What do you think should be done to the report of the National Conference produced by the Jonathan administration, should Buhari implement the report or review it? There is a problem with the report of the National Conference, I can say that I am one of those who believe that the Conference was just a mere jamboree because it was politically-motivated and unfortunately it is not serving the desired end. Let me say that the outcome of the conference did not carry the aspirations of the people who went for the conference. Basically, the South-West went with some things in mind and they did not get anything such as devolution of powers and regionalism, nothing was accomplished. The report is neither here nor there so at the end the report remains mirage, it has achieved nothing and relying on it will not work out. The Orosaye’s report was even pivotal and more focused, a president in Nigeria can use the report to restructure civil service, in fact the president can get some people together to brainstorm on how to move the country forward and forward the proposal to the National Assembly, I think Nigerian should come back to her real sense and stop fantasizing. The successive administration in the country has always paid lip-service to the issue of prison congestion. How do you think the incoming administration at the Federal and States levels should approach this issue and solve the problems? No government in Nigeria has succeeded in decongesting the prisons, the courts do not help the matter, law has not helped the matter, if there is power to jail people so also there must be power to maintain prisons because most of the States in Nigeria do not maintain prisons and therefore nobody knows what the Federal Government is doing concerning the issue. These are parts of the laws that I think should be looked at, the Federal Government cannot be over- concentrated in one hand at Abuja, if there is power to jail then there must be power to reform, I think the stakeholders need to have a roundtable and discuss on how to decongest the prisons. Besides, lots of Magistrates and Judges of the High Court are the contributing factors to the congestion of prisons because the pretrial remix system is never utilized. For instance, a man that was involved in the mere case of stealing may be he just pick pocket and he was caught then the magistrate is demanding for a grade level 17 officer to perfect the bail condition or the king of his town. I think that we should do away with these unwritten conditions so that we can move on. In my opinion the best person to stand the bail for the accused person should be husband or wife, there are areas that we should be checking and without thorough check the congestion will continue. The present NBA leadership has been in the saddle for nine months. How will you

THE BAR LEADERS SHOULD CREATE SO MANY ENVIRONMENT FOR YOUNG LAWYERS TO OPERATE INSTEAD OF WRITING APPLICATIONS AND SEARCHING FOR JOBS rate its performance and what areas will you advise it to improve or pay attention to? The Nigerian Bar Association are trying their best besides, I want you to know that we all have backgrounds and a lot of people drank from their conservative backgrounds, a conservative president cannot just overnight starts behaving like a progressive and one cannot expect a progressive to become a president and starts behaving like a conservative so what you are is what you are. Basically the bar leadership aimed at reducing practice fee thought it has not been effectively reduced. Another issue is the pragmatic way they had looked at the stamp and seal project is quite commendable because without amending Legal Practitioners’ Act it cannot come into form but the bar leaders requested the CJN to do a practice direction and the practice direction will make stamp and seal a culture though, I don’t know if it has started working or how it will work but I think the step will assist to checkmate the fake lawyers. How do think the plight of young lawyers, poor pay, and lack of patronage can be addressed by the NBA?

If we talk about the plight of the young lawyers what about the old lawyers, old lawyers are suffering young lawyers are suffering but above all, it goes beyond issue of salary, it is about providing an enabling environment for every lawyer to work and succeed. It is not compulsory that every lawyer must be employed or engaged, there could be opportunity for lawyers to go into partnership among themselves to operate a chamber. The NBA can advance them with interest- free grant so that when they establish they can pay back the money. The bar leaders can create so many environments for the young lawyers to operate instead of writing applications and searching for jobs. There are several other areas of our economy that lawyers have not been able to annex, such as media, football, interior decorations and many others, so we really need to work on it and encourage others to follow other avenues that is opened to a lawyer. I think there is need to say that it is going to be difficult to fix the salary of a lawyer because the economy of each state is diverse notwithstanding we can agree on the minimum but I subscribe to the idea that every lawyer must be well- paid.

Law & Justice

Monday, May 4, 2015

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Constitution amendment: NASS can’t usurp executive powers –Daudu, Falana CONTINUED FROM PAGE 41 sion broadcast programme monitored in Lagos, said “the legislature, with due respect, has tried to assert powers that the constitution did not ascribe to it. “In my view, I describe it as a coup on the entire presidential democracy. The President has the legal right to veto any bill by National Assembly. It doesn’t matter whether it has gone round all the Houses of Assembly, the President can say no”. In his opinion, Mr Seyi Sowemimo, SAN stated ‘’the President is insisting that the Amendment Bill should have been with the votes of four-fifths of the National Assembly and approved by the resolution of both chambers with not less than two-thirds of the states of the federation. He has also accused the lawmaker of whittling down the powers of the executive. This to me is a matter for Supreme Court to decide. I am sure these issues and many others have been raised and we should await the decision of the court on them’’ In his view, Dr. Abiodun Layonu, SAN expressed the hope that the Supreme Court will resolve it soon. According to him, since the matter is before the apex court, the court should be allowed to make pronouncement on the matter. But Mr. Femi Falana urged members of the National Assembly to remove the objectionable provisions in the Fourth Alteration to the 1999 Constitution. Falana in a statement titled: ‘‘ Constitutional Amendment: Why the National Assembly Cannot Ignore the President’s Letter’’ advised National Assembly members to go back to the drawing table to tackle the fundamental errors that characterised the Fourth Alteration to the Constitution. He said: “They (National Assembly) should have no difficulty in jettisoning the alteration of Section 9 of the Constitution, as it is the height of legislative dictatorship to amend the Constitution of a country without the assent of the President and the endorsement of the people via a referendum. Falana said: “No doubt, the National As-

Layonu

Justice Mahmud Mohammed, CJN

IT IS THE HEIGHT OF LEGISLATIVE DICTATORSHIP TO AMEND THE CONSTITUTION OF A COUNTRY WITHOUT THE ASSENT OF THE PRESIDENT AND THE ENDORSEMENT OF THE PEOPLE VIA A REFERENDUM sembly has the power to override the President’s veto, if the constitutional requirement is met. But the needless controversy over the constitutional amendment should be handled with caution on the part of the federal legislators. Apart from the serious observations raised by the President, some of the provisions of the amendment completely negate national interests’’. Falana observed that while majority of Nigerians have consistently demanded the removal of immunity clause from the Constitution, the amendment seeks to confer immunity on legislators in addition to the heads of the executive arm of government.” The lawyer also referred to the provision of the pensions for life for former leaders of

the National Assembly provided for in the fourth alteration to the constitution as another objectionable proposition. Chief Chukwuma Ekomaru, SAN said “I think the President was patriotic in his decision to call upon the lawmakers to take a second look at this bill’’. According to Ekomaru ‘’if the National Assembly reviews the Constitution in such a way that the President is not comfortable with, the President can refuse his assent. The president did not only withhold his assent, he also approached the Supreme Court to seek certain reliefs. The role of the Judiciary is to interpret the laws and I think all should await the pronouncement of the apex court on the issues’’.

Ekomaru

‘’Besides, the President cited a number of provisions in the Act that altogether constitute flagrant violations of the doctrine of separation of powers enshrined in the 1999 Constitution and unjustifiably whittle down the executive powers of the federation vested in the President by virtue of Section 5 (1) of the 1999 Constitution’’. In his view, Mr. Norrison Quakers, SAN described the face-off as a welcome development stressing that it is part of the developing process. He said ‘’it is a welcome development and the beauty of democracy. The constitution recognises the power of the President to decline to assent to the constitution amendment bill forwarded to him by the National Assembly. The president has given reasons why he refused to assent. The constitution also recognises the power of the National Assembly to override the President’s veto. But, now that the matter is before the Supreme Court, everybody should await the outcome’’. There is no doubt; all eyes are on the Supreme Court to interpret the constitution correctly and rightly too.

Celebrating Ope-Agbe, judicial icon Judicature FRANCIS FAMOROTI HEAD, JUDICIARY DESK

ustice Musiliu Abisola Ope-Agbe is a retired Justice of the Lagos State High Court. He was appointed to the Bench on November 18, 1986 and retired on March 31, 2000. Prior to his retirement, he was one of the most hardworking judges of the state’s judiciary. He was always punctual and exhibited fine comportment on the Bench. Ope-Agbe was a diligent and upright judge, and so lawyers would readily attest to the fact that the judge sat at exactly 9.00 am prompt. Lawyers and litigants who had cases before him never waived being punctual in court. He demonstrated admirable qualities of a judge, patience, brilliance and erudition. He was cautious in his decisionmaking and appropriately deferential

to the executive and legislative branches of government. He was unfailingly polite to everyone. In every respect of the word, Ope-Agbe was a gentleman. He was of enormous value to the judiciary and it was very unfortunate that he was not elevated to the higher Bench before he bowed out at the age of 65. While on the Bench, he had the rare privilege of being addressed as ‘’My Lord’’ by former President Olusegun Obasanjo, and the late Biafran Warlord, Ikemba Nnewi, Emeka Ojukwu, when they both appeared separately before him as litigants. Obasanjo had testified before Ope-Agbe during the hearing of the libel suit he filed against the defunct New Nigerian Newspapers in the early 90s. Similarly, Ojukwu had also testified as a defendant before the judge in the debt recovery suit instituted brought against him in the Lagos High Court by a French Bank, Banque Afrique Occidental in Cote D’Ivoire. An old boy of C.M.S Grammar School, Lagos, Ope-Agbe was born on March 31, 1935. He attended to Holborn College of Law in United Kingdom (UK) between 1961 and 1964 and was called to the Nigerian

Bar in 1966. He began his legal practice in the law firm of Oluwa, Kotoye and co, Lagos in 1966 till his appointment as Magistrate Grade 11 by the state judiciary. He rose through the ranks in the Magistracy till he was promoted Chief Magistrate Grade 1 on June 1, 1981. Ope-Agbe transferred his service to the Federal Judicial Service as the Deputy Chief Registrar of Supreme Court on February 1, 1983 and was appointed judge of the Lagos State High Court on November 18, 1986. Notable among the cases he handled was trial of a socialite, Jennifer Madike and her cousin, Doris Obi, who both convicted for forging the handwriting of the former first lady, Mrs. Mariam Babangida in the early 90s. Due to his erudition on the Bench, he was single-out for appointment as the Judge/ Chairman of the Failed Bank Tribunal (Zone 2) Lagos. He recorded a feat for being the first chairman of the tribunal to secure conviction of suspects linked with financial malpractices when he convicted four top executives of the defunct Alpha Merchant

Ope-Agbe

Bank. Barely one month after his retirement from the Bench on March 31, 2000, was Ope-Agbe appointed the Administrator of the National Judicial Institute (NJI) in succession to retired Supreme Court jurist, Justice Andrew Obaseki. While at NJI, he discharged his duties efficiently and put the Institute in good stead before the expiration of his tenure.

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Monday, May 4, 2015

How Macaulay’s children tussled over late father’s estate FAMOUS CASES

erbert Heelas Macaulay was widely known as a surveyor, foremost nationalist, pre-independence politician during his lifetime. According to the accounts of his political activities between 1920s and 1940s, his views held sway among the nationalists and freedom fighters in those days. After a chequered political career, he died in 1946 while on a trip to the Northern part of the country. His remains were later interred in Lagos. After his demise, he bequeathed to his children and other descendants a real property known as No. 8, Balbina Street, Lagos. In 1952, Justice Olumuyiwa Jibowu had cause to make pronouncement in a suit relating to the estate of the deceased nationalist. His judgment was that only the children born in wedlock were entitled to participate in its distribution. He rejected the principle of legitimation by acknowledgment under Yoruba customary law. In this suit, the Federal AdministratorGeneral sought for an order empowering the applicants to sell the reversion of the deceased’s real property known as No. 8, Balbina Street, Lagos. In a consolidated suit, the plaintiffs pleaded Estoppel per Rem Judicatum and contended that as a result of Jibowu’s judgment only the members of the first group of respondents were entitled to share in the proceeds of sale. The second group of respondents established that they being interested parties in that suit were not served with notice of motion or other process of court before judgment was given on that case. Moreover, they did not instruct any Solicitor to appear for them and were consequently not represented at the trial of the suit. In a ruling delivered on April 10, 1967 and reported in the Federal Nigeria Law Reports (1967) F.N.L.R, Justice George nullified the judgment of Jibowu. Indeed, the ruling wholly voided the 1952 verdict because the parties were not served with any court processes and it was not clear who actually instructed the Solicitors who initiated the proceedings. It is instructive that according to Justice George, the two matters- M209/66 and M/ 220/ 66 were consolidated with the consent of all the parties concerned. An application was made by motion by a group of children of the deceased headed by Sarah Adadevoh for an order that they be joined as parties on the ground that they are entitled to share in the purchase price of the reversionary interest of 8, Balbina Street, Lagos. Justice George ruled that: “I shall refer hereafter to Helena Smith and others as the first group of respon-

Herbert Macaulay was a pre-independence nationalist and well- known to the older generations in the country. After his demise, he bequeathed a real estate property to his children on Lagos Island, whose proceeds later became a subject of litigation among them. FRANCIS FAMOROTI, Head, Judiciary highlights the legal tussle. dents and Mrs. Sarah Adadevoh and others as the second group of respondents. The plaintiff in Suit No M/209/66 filed a statement of interest and averred that as a result of that judgment, only those in the 1st group of respondents were entitled to share in the proceeds of sale. At the trial, counsel for the 1st group of respondents raised as a preliminary point the issue of Res Judicata. This ruling is therefore concerned only with issue of Res Judicata. ‘’ ‘‘The decision of Jibowu. J, as he then was, in Exhibit C is that the Administrator- General should distribute the estate of the deceased equally among the children of Silvina De Souza, Souzana Pacheco, Elizabeth Pratt and Motara Sosanya. Counsel for the 2nd group of respondents on the other hand led evidence to show that the 2nd group of respondents were not served with the Motion on Notice, or any process of the Court before judgment was given nor did they instruct any Solicitor to appear on their behalf. Chief Williams, who gave evidence, on subpoena by the 2nd group, said he could remember very little about the case but admitted that it was possible that no evidence was led in respect of Frank Macaulay, Ayodele Macaulay, Sarah Adadevoh, Oliver Oged Macaulay, and Tokuboh Macaulay. (Frank Macaulay is the father of the 4th and 5th respondents in the second group). This was after he was confronted with page 27 of Exhibit D- a certified copy of a portion of the proceedings before Jibowu dated the 11th September, 1952. The remarks of Jibowu was as follows: “The court lists this case to inform Mr. Williams that no evidence has been called in respect of Frank Macaulay, deceased, Ayodele Macaulay, Sarah Adadevoh, Oliver Oged Macaulay and Tokunboh Macaulay. Case is therefore reopened for further evidence to be heard on Friday, the 12th September, 1952.” “The following day, that Friday, the 12th day of September, 1952, Mr. Kayode for the applicants recalled Silvina Da Souza –one of the wives of deceased. Her evidence was to the effect that the deceased acknowledged Herbert Kitoye, Frank Montague, Ayodele, Sarah, and Tokunboh as his children. No evidence was led by the counsel about Oliver Oged Macaulay. ‘‘It was in answer to a question by the court that the witness testified that Herbert Kitoye and Frank Montague were born before she became a wife of the deceased. She therefore could not say whether their mothers were married or not. She also could not say, as a fact, if the mothers of Sarah, Oged and Tokunboh were married according to native law and custom. On the evidence of this witness, the

Macaulay

JUSTICE JIBOWU HAD PRONOUNCED IN HIS JUDGMENT THAT ONLY THE CHILDREN BORN IN WEDLOCK WERE ENTITLED TO PARTICIPATE IN THE DISTRIBUTION OF THE ESTATE OF THE DECEASED court directed, as stated above, that only the children of the deceased, the marriage of whose mothers according to native law and custom had been proved, were entitled to equal shares in the distribution of the estate of the deceased. The native law as to legitimation by acknowledgement was rejected. In effect, it was decided that the 2nd group of respondents were illegitimate children of the deceased. The main ground on which counsel’s submission is based is that the 2nd group of respondents headed by Mrs. Adadevoh were not served with hearing notices or any court processes nor did they instruct any Solicitor to accept notices on their behalf or appear for them at the trial. Consequently, the decision of the court was void ab initio. The evidence of Ogedengbe Macaulay read in the light of that of Chief Williams shows that Ogedengbe Macaulay did not instruct anybody to appear for him. Chief Williams himself said he re-

membered clearly he did not represent Oged Macaulay. It has been established in my view beyond the shadow of a doubt that nobody was instructed to appear for Oged Macaulay. The evidence of Enitan Macaulay who belongs to the 1st group of applicants is to the effect that at the material time, Oged Macaulay was in Cotonou. The case of Albert Tokunboh Macaulay also calls for special consideration. He testified that he left Nigeria in 1943 and did not return till October 1961 and that he did not instruct any Solicitor to appear for him. His evidence was corroborated by that of Oged Macaulay. I have no reason whatsoever to disbelieve his evidence. I believe that he did not instruct any firm of Solicitors to appear for him and that he was not served with the notice of motionexhibit A- or the hearing notice in respect of the retrial before Jibowu. This is a grave irregularity but I shall examine the points raised by counsel on both sides. Counsel for this 1st group relied principally on Estoppel and drew attention to the case of Ojiako & others 1962 1 All N.L.R 58. This case is not relevant to the issue as it was not suggested at any stage of the proceedings (that is, in the Okwusa case) that the previous judgment was void. “Counsel to the 2nd group drew my attention to the leading case of Craig v. Kanseen 1943 1 All E.R 108. In that case judgment was obtained against a party to an action. “In their statement of interest, the 2nd group of respondents stated clearly that they were not informed about the proceedings before Jibowu that they did not instruct the firm of Thomas, Williams and Kayode to represent them, that they were not served with hearing notices for any court processes to inform them the matter was being tried in 1952. These are very serious allegations, which go to the root of the proceedings. I have already found as a fact that they are true. In my view, since the 2nd group of respondents did not instruct the firm of Thomas, Williams and Kayode to appear for them, they should have been served with hearing notices. There is no record in the case file to show that the 2nd group of respondents were served with hearing notices. In my view, the decision of the Old Supreme Court –Exhibit C- in suit No AG.68 delivered on the 15th day of September, 1952, is a nullity. If a judgment is void, it is void for all times and can be set aside at any time under the inherent jurisdiction. Under the inherent jurisdiction, it is therefore hereby ordered that the said decision of the Old Supreme Court be and is hereby set aside. The plea of Res Judicata therefore fails”.

Law & Justice

Court orders UK to cut air pollution UNITED KINGDOM

British Prime Minister David Cameron

panel of five judges, headed by the court’s president Lord Neuberger, ordered “that the Government must prepare and consult on new air quality plans for submission to the European Commission... no later than December 31 2015”. The case had been brought by ClientEarth - a group of environmental lawyers - which notes that air pollution causes tens of thousands of premature deaths a year in the UK.

NBA SBL seeks to task economic regulators, govt agencies FRANCIS FAMOROTI HEAD, JUDICIARY

etermined to contribute to nation building, the Nigerian Bar Association Section on Business Law, NBA SBL is set to hold its 9th Annual Law Conference aimed at focusing on economic growth in the country. Speaking at a press conference in Lagos, the Chairman, SBL Conference Planning Committee, Mr. Ayuli Jemide said this year’s conference scheduled to hold between June 7 and 9, this year in Lagos, was designed to raise major discourse that affect the business environment in Nigeria. Jemide said it would also create an avenue for enduring mechanisms for continuous engagement between the SBL and the major regulators that shape the business environment in the country. The chairman who told Law Editors that the SBL conference would comprise nine sessions explained that some of the topics for discourse have been carefully chosen to serve as agenda setting for the incoming administration in the country. Announcing the theme of this year’s SBL conference ‘’Regulators as Catalysts for Economic Growth’’, he said

its aim was to serve a forum for regulators, lawyers and business executives to dialogue on policies and regulations that shape economic growth. According to Jemide, ‘’the first session on the 8th of June 2015 is tagged ‘’Improving Nigeria’s Ease of Doing Business’’. The importance of improving Nigeria’s current 170th position on the World Bank Ease of Doing Business Index cannot be over-emphasised. The chairman, SBL conference planning committee further stated that the conference would be an all-inclusive one that will attract practising lawyers, in-house counsel in private and public sectors, corporate Nigeria and government. Jemide said notable among the key speakers expected at the conference are; Ghanaian’s Minister for Trade and Industry, Dr. Ekwow Spio-Garbrah, CEO, Ghana Investment Promotion Centre, Mawuena Trebarh, Prof. David Wilkins of Harvard Law School, CEO, Nigeria Sovereign Investment Authority, Uche Orji among others. He said helmsmen of several Nigeria’s regulatory agencies would aloe be part of the discourse at the conference.

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Captain in South Korean ferry sinking receives life sentence SOUTH KOREA

he United Kingdom’s highest court has ruled that the government must take immediate action to cut air pollution. A report by BBC says that the ruling represents a significant victory for campaigners, who started legal action after the UK breached EU limits for nitrogen dioxide in the air. NO2 is produced mainly by emissions from diesel vehicles and is linked to a range of respiratory illnesses. The Environment Department said work had already been started on revised plans to meet EU targets on NO2. In a unanimous ruling, a

Monday, May 4, 2015

outh Korean captain of the sunken ferry, Sewol, has been sentenced to life in prison after an appeal court reversed a lighter sentence that acquitted him of homicide. A report by ABC says that Lee June-seok, 69, was charged with “murder through wilful negligence” when he and the crew deserted the sinking ferry without attempting a rescue. After abandoning hundreds of passengers on board, Lee and his crew were among the first to be rescued by South Korean coast guards, as 304 people died on board.

During a lower court trial, Lee said he was guilty of a crime “for which I should die.” The court charged Lee with criminal negligence and sentenced him to 36 years in prison, a term that was extended to life imprisonment. The remaining 14 crew members, however, received reduced jail sentences. Some who had received sentences of 30 years now face 11 to 12 years in prison. When the ship began to tilt and sink, crew members had urged pasSouth Korean President Park Geun-hye sengers to stay put while they made their way to safety. As captain, Lee prison for murder through willful negfailed to give an order to evacuate, a ligence. The appeals court in Gwangju step that could have saved lives. said he could have saved two injured Park Gi-ho, the ship’s chief en- cooks but reversed his sentence to 10 gineer, was sentenced to 30 years in years on lighter charges.

UAE court sends 2 health workers to jail UAE

United Arab Emirates court has handed jail terms to two clerks at the Dubai Health Authority who altered a Filipina’s fitness test results to make it appear she was fit for work. A report by ABC news says the Dubai Court of First Instance sentenced the two to six months in jail for changing the test result from medically unfit to medically fit supposedly for a Dh3, 000 bribe. Both clerks, aged 27 and 25, were found guilty of abusing their offices at the DHA and for forging the 22-year-old Filipina’s test results, but were sentenced in absentia. On the other hand, the court acquitted the Filipina and her 49-year-old mother for lack of corroborative evidence. Prosecutors accused one of the two clerks of accessing the DHA’s esystem despite lacking the needed permissions. The other clerk, the Filipina and her 49-year-old mother were accused of aiding and abetting the

suspect. Both Filipinas entered a not-guilty plea and claimed they were not involved in the forgery and had not paid any bribe. Also, they insisted they were told by the accused that the Dh3,000 involved “fees.” Presiding judge Ezzat Abdul Lat acquitted the two Filipinas but ordered the two clerks deported after they serve their sentences. An Indian nurse at a DHA medical centre testified the forgery was discovered coincidentally. “My friend who works in a typing centre asked me over the phone if it was possible to change the test results of a client from medically unfit to medically fit against a certain fee... When he told me that he overheard his colleagues discussing the issue, I asked him to forward me a copy of that test result to check it out. When I checked the results of the pertinent applicant (the Filipina), the DHA’s esystem showed that her fitness test results showed that she was medically unfit,” the nurse said. “I informed my boss, who directly instructed me to change the result to unfit and notify the General Director-

Prime Minister, UAE, Sheik Mohammed bin Rashid Al_Maktoum

ate of Residency and Foreigners’ Affairs so that (the Filipina) does not have a visa processed based on forged documents,” the nurse added. “We applied for her to do the fitness test to process a residency; when she and I went to pick the results from the DHA fitness centre, (the clerk) handed us the result and said that she was not fit.

I was scared on how to present myself –Giwa

y first appearance was before Magistrate Komolafe of the Magistrate’s

Court, Ikeja. Though I was asked to take a date for mention, hence I did not have any problem. But the height of my appearance was before the Court of Appeal, Ilorin. Before that time I had not handled any High Court matters on my own, when I got there and I saw three Justices, I was scared on how to present myself before them. To add to my fear, a colleague who appeared before my

case was called upon muddled-up everything while presenting her matter and that created more fear in me. But luckily for me, I was able to move an application though, there was problem encountered in serving the other party, the court had to adjourn the matter. At the end of the matter, I was happy because the judges commended me for a courageous preKofoworola Giwa sentation.

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Law & Justice

Monday, May 4, 2015

EVENT

L-R: Ogun State Attorney-General & Commissioner for Justice, Mrs. Abimbola Akeredolu and her counterpart in Lagos State, Mr. Ade Ipaye at the book launch on ‘Personal Income Tax Act - Principles & Cases in Nigeria’ by senior special assistant to the Governor on Justice Sector reforms, Mr. Lanre Akinsola, in Lagos, recently.

L-R: Justice Femi Adamson and Justice Senayo Ogunsanya

The author, Mr. Akinsola (left) and book reviewer, Prof. Erick Obadina

L-R: Ogun State AG, Mrs. Akeredolu and Executive Chairman, Lagos Internal Revenue Services, Mr. Tunde Fowler.

Bar

Jokes

It was a Tuesday when the judge passed a verdict against a certain lawyer’s client. A lawyer finds out he has a brain tumor, On Wednesday the lawyer rushed into the and it’s inoperable - in fact, it’s so large, judge’s chambers. ” Your honour, I just they have to do a brain transplant. His found out new information and I would like doctor gives him a choice of available brains to file an appeal.” “What did you find out?” - there’s a jar of rocket scientist brains asked the judge. After a few moments of for $10 an ounce, a jar of regular scientist silence the lawyer responded “well, I found brains for $15 an ounce, and a jar of lawyer out my client has another $5000 dollars. brains for the princely sum of $800 an ounce. The outraged lawyer says, “This is a rip off - how come the lawyer brains are so Max was caught red handed by a police damned expensive?” The doctor replies, “Do officer in the very act of burglarizing a you know how many lawyers it takes to get store. He was quickly brought to trial. an ounce of brains?” “How do you plead? asked the judge. “Your honour,” answered Max, “before I plead guilty or not guilty I ask that the A lawyer was well into a lengthy crosscourt kindly appoint a lawyer to defend examination of a witness, stopped and said: me.” “Max, you were caught in the actual “I object, Your Honour! One of the jurors is commission of a crime. What could any asleep.” lawyer possibly say in your defence?” That’s The Judge ruled: “You put him to sleep... exactly my point, your honour,” said Max. You wake him up.” “I’m curious also to hear what he could possibly say!” Culled from C.C Jokes.com and Lawyers’ A pick pocket was up in court for a series of Jokes

Burglar Case

Pick pocket

Consolidation of actions in court

The Appeal

Expensive lawyer’s brain

Lengthy cross-examination

LEGAL TIPS

petty crimes. The judge said “Mr. Banks you are hereby fined $100.” The lawyer stood up and said “Thanks, my lord, however, my client only has $75 on him at this time, but if you’d allow him a few minutes in the crowd. . .”

his is a process whereby two or more actions pending in the same court are joined and tried by the same court. *Consolidation is usually between (a) a plaintiff and a defendant; (b) a plaintiff and many defendants; (c) many plaintiffs and a defendant or (d) many plaintiffs and many defendants. *It is important that the suits being consolidated should be on the same issues and must be pending before the same high court. * In asking for con-

solidation of suits, the court must be convinced that the issues involved in these cases are the same and the reliefs sought by the plaintiff or defendant in both cases are primarily the same. *The main reasons for consolidation of actions are to save time of the court and the parties to the suit and also the cost of the prosecution. The application must therefore be for genuine and pragmatic reasons. *The procedure for consolidation is by making the necessary appli-

cation to the court either orally or formally. *Generally, consolidation of suits is for the convenience of the trial of the suits. In other words, the suits still retain their individuality. * At the end of the trial therefore, two or more judgements or decisions are made depending on the number of suits consolidated. * Written by Francis Famoroti, Head, Judiciary. We welcome feedback and reactions from readers via our e-mail: nationalmirrorlaw@yahoo.com

National Mirror www.nationalmirroronline.net

Monday, May 4, 2015

Community Mirror Whoever they maybe, the important thing is that Nigerians held under very severe and inhumane condition have been freed by our gallant trrops. Director of Defence Information –Maj. Gen. Chris Olukolade

We were falsely maligned -PCRC Chairman F

Community seeks Amosun’s support on farming

DARE AKOGUN

hairman, Police Community Relations Committee, PCRC Area ‘M’ Command Prince Michael Oyeniyi, has decried a recent newspaper report (not National Mirror) where his committee was alleged to have demanded N50 million from Lagos State Government to prevent it from pulling down some structures at the Area M Command. Oyeniyi said he is piqued by the unprofessional attitude of the reporter whom he said, failed to bring to the fore, in the course of his duties, the highly prized ethics of journalism that Nigerian journalists are known for. The office of the PCRC is among the buildings penciled down for

demolition in the restricting area of the command. According to him “How could we have demanded such an outrageous amount from a state government that is humane and highly known for its developmental programmes? All we are asking for is that before they send this building crashing, they should for God’s sake, provide alternative for us” Oyeniyi stated. He revealed that their trouble started when against all reason, the contractor handling the projects within the command, went against their plea to shift the edifice directly opposite the PCRC building on the grounds of inadequate space. He added that when they tried to inquire why she decided against their desire, she resorted to use

her influence to send officials of the government after them and that has resulted to the proposed plot to pull down their building. Oyeniyi said the PCRC since inception, has worked hand in hand with the police authorities to contribute meaningfully in the areas of infrastructural development and have often times gone out of their way to contribute to the welfare of men and officers of the command He noted that rather than being appreciated for their efforts, it seems some disgruntled elements in the society, want to discourage the members of the association who have sunk their hard earned money to help an organisation that is contributing its own quota to the society.

armers in Iraye community of Ogun on Saturday appealed to the state government to support rural farming communities with basic farm inputs to enable them to transit to commercial farming. The farmers, across 27 farming communities in the town are known for cultivating cucumber, plantain, maize, cassava, kolanut, pineapple, amongst others. The farmers in separate interviews with NAN said the state government was not giving the communities the deserved attention in spite of recent publicised transformation in the agriculture sub-sector. Mr. Julius Atukum, an indigene of Benue and spokesman for the community, said he had been farming in Iraye for more than 30 years, but had not once enjoyed any agricultural benefits. He said that ``apart from the indigenes of Iraye who also engage in farming, there are more than 100 settlers like me who engage in commercial farming, though at subsistence level. ``We sell our produce to whole-

sale buyers, many of whom come from Lagos and Sagamu. ``The challenges we face are enormous and no single farmer has ever received any support from government either in form of loans, agricultural input or extension services. ``We only hear of such facilities on radio; it never got to us.’’ Atukum, who is also the Chairman of the Alajeseku Farmers Association, added that the community also lacked healthcare facilities, potable water, electricity supply and secondary school. He also lamented the bad condition of the Ikorodu-Sagamu road, which he said, was preventing buyers from patronising their farm produce. He added that ``in the past, our customers come from Lagos and Sagamu, through the route, but since the road continued to go bad, patronage has reduced. ``Since we do not own vehicles here to convey our produce to the cities, we rely on private transport companies, many of whom now refuse to come here because of the bad road.’’

Rotary Club donates borehole to disabled

T A man being punished by law enforcement officer for not using pedestrian bridge in Ikeja in Lagos.

PHOTO: NAN

he Rotary Club of Gwarimpa, Abuja, over the weekend donated borehole to colony of people with disability in Karamajiji in Abuja. Governor of District 9125 of Rotary Club Mr Tolu Omatsola, said the donation was in furtherance of the determination to touch the lives of the persons

Monarch tasks youths on proper conduct

istrict Head of Wakama in Nasarawa State, Mr. Peter Angbazo, on Sunday advised Nigerian youths against engaging in acts capable of threatening the existing peace and socio-economic development of the country. Speaking to newsmen in his palace, he said the importance of peace in nation building should not be jeopardised by the negative roles youths play in the socio-eco-

nomic development of the country. According to him, “As a traditional ruler, my role is to preach peace, unity and to advise my subjects and other Nigerians to live in peace and tolerate one another, irrespective of ethnic, religious and political affiliation, for the benefit of all. “Because no nation or society can develop in an atmosphere of rancour and confusion, the security challenges facing our state

and some parts of the country had affected our lives and socio-economic development of the country negatively. “I want to advise Nigerians, especially the youths, against engaging in any act of lawlessness capable of threatening the existing peace and the socio-economic development of the country,” he stated. Angbazo also enjoined the youths to partner with govern-

ment and channel their energy towards nation building, saying that no society could experience meaningful progress and development without the positive contribution of youths. He explained that youths are the foundation, agent of change and vanguard of peace of any nation, hence the need for them to provide opinion to the government on how to solve issues and challenges facing the country.

with disability. Represented by former club Governor Joshua Hassan, Omatsola said the club found out that the colony had been without water supply and in dare need of so many essential facilities. The governor added that it was everybody’s responsibility to assist the less-privileged, adding that the community of over 1,500 people lacked access to good water and health facilities. He urged the government and NGOs to come to the aid of the community in providing more facilities for them. Chief of the colony, Alhaji Suleiman Muhammed, commended the club for its humanitarian services for the community. Muhammed said the rotary club of Gwarimpa had been the only club assisting the community, adding that the water provided by the club would go a long wasy to alleviate the suffering of the people.

National Mirror www.nationalmirroronline.net

Community Mirror

Monday, May 4, 2015

Original owners want Fashola to return Isolo Secondary School WALE IGBINTADE

kaix West Africa Limited, the original owners of Metropolitan College, now Isolo Secondary School, have appealed to the State Governor, Babatunde Fashola, SAN to return the school to them before the expiration of his tenure on May 29, 2015. In a letter to Fashola signed by Mr. Malcolm Omirhobo, he stated that the call became imperative owing to the need to comply with the Education (Private Secondary Institutions) (Special Provisions) (Repeal) Law of Lagos State,

which mandated the return of Private Secondary Schools in the state to their owners for effective management. The letter expressed the fear that the school may not be returned after May 29 due to bureaucracy, indiscretion and inability on the part of the officials of the Ministry of Education to appraise and appreciate the expediency on the need to return the school. Akaix West Africa had sued the state government before the Lagos High Court to challenge the refusal of government to hand over the school to it when all the private schools earlier taken-over by government were returned to their owners.

The government, however, indicated willingness to amicably settle the dispute, a development which led to the matter being referred to the Lagos Multi-Door Courthouse (LMDC) for arbitration. At the arbitral sitting, the issues were narrowed down by parties as follows: “That the Metropolitan College comprising of Isolo Secondary School belongs to Akaix West Africa Limited. However, Omirhobo lamented that the only disagreement was on the insistence by the Lagos State Ministry of Education to retain the Isolo Secondary School, which was against government’s restructuring of the educational system

of divesting and allowing the private sector to invest in the educational system so as to provide the conditions in which students can learn to the highest standard and prepare themselves to meet their future needs. The letter urged the governor to frog leap the exercise of the return of the school by ensuring that the case is presented and deliberated at the next Lagos State executive council meeting so that the matter could be put to an end on or before May 29. The school was established in 1955 with the first batch of 19 students in Surulere area of Lagos by Akaix West Africa Limited. For expansion purposes and to

move away from the thickly populated residential area of Surulere, the owners acquired the present site at Ire-Akari, Isolo in 1966 and eventually moved there in 1974. In 1976, via the Education (Private Secondary Institutions Special Provisions) Law, the Military Government of Lagos State took over 48 Private Secondary Schools from their owners, including Metropolitan College. However, in 2001, the administration of Bola Ahmed Tinubu repealed the law and returned the said 48 private schools to their owners, but Metropolitan College was curiously not returned, a development that brought about the suit.

NEMA offers rescued women support in Borno

Youths protesting over poor power supply in Badagry, Lagos, yesterday.

PHOTO: NAN

Man docked for attempted murder OLANREWAJU OLATUNBOSUN

22 years old man has been charged before an Ebute Metta Magistrate’s Court, for attempting to kill one Chukwuemeka Okorie. Police Prosecutor, informed the court that the defendant poured acid on Okorie’s back, stomach and his private part, thereby causing him grievous bodily harm. He submitted that defendant committed the alleged offence on March 27, 2015, at No 9 Herbert Macaulay Way, Ebute Metta Lagos. According to the Police Prosecutor, the offence is punishable under section 228 and 244 of the Criminal Law of Lagos State Nigeria 2011. When the charge case was read to him, he pleaded not guilty to the two count charge levied against him.

But, in his testimony, the defendant told the Magistrate that it was hot water he poured on the victim and not acid. He added that, it was the victim that first inflicted injury on him by placing hot iron on his hand. Defence lawyer, Mrs. Emenda Adebabo, urged the court to grant his client bail in most liberal term, but the Police Prosecutor raised objections on the grounds that the

defendant may jump bail. In his ruling Magistrate Ogunkanbi, granted the defendant bail in sum of 100.000 with two credible sureties in like sum. Besides, the court directed that the addresses of the sureties should be verified and that one of them must be a relation of the defendant. The matter has been adjourned till May 6, 2015 for mention.

ational Emergency Management Agency, NEMA, said it had established contact with the military towards providing support for hundreds of women rescued from insurgents hideout in Sambisa forest in Borno. This is contained in a statement signed by NEMA’s North East spokesman, Malam Abdulkadir Ibrahim, on Sunday in Maiduguri. “NEMA has established contacts with the military to deliver immediate relief support to the women that were recently rescued by the troops from camps of the insurgents in Borno,’’ Ibrahim said. He said that NEMA’s DirectorGeneral, Alhaji Muhammad Sidi, had last week sent a team to visit the 7 Division of the Nigerian Army in Maiduguri to begin procedures for providing support to the women. “The DG, who was represented by the Director of Relief and Rehabilitation, Mr. Udemezue Ezeh, said at the meeting that the agency had prepared some relief support for immediate distribution to the rescued women.

“Ezeh presented the items to the military and requested their assistance in the delivery of the items to the women,’’ Ibrahim said. He said that the items presented included food materials and sanitary items. “The General Officer Commanding of the division was represented by the Chief of Staff Brig.-Gen. Hamisu Hassan at the meeting. “Hassan appreciated the prompt response of NEMA and assured necessary cooperation towards the support of the women,’’ Ibrahim said. He said that Ezeh also visited some IDP camps in Maiduguri to assess the level of NEMA’s intervention before leaving for Abuja. “At the various camps hosting the rescued IDPs, Mr Ezeh expressed satisfaction with the arrangements and cooperation among the stakeholders including the state officials. “While flagging off the distribution of more relief support for the IDPs, he assured that efforts would be made to address some of the identified challenges at the camps,’’ Ibrahim said.

Xenophohic attack will spread globally –Cleric PATIENCE OGBO

he Founder of Daylight Dominion Ministry based in Lagos , Prophet Samuel Nwankwo, has called on Nigerians facing xenophobic attacks in South Africa to return home and invest. As a way of stopping xenopho-

bic attacks on Nigerians, Prophet Nwankwo urged the incoming government led by General Muhammadu Buhari to create job opportunities for the teeming youth by investing in the private sector. He said “My advice to the incoming government is for them to correct the lies that people cannot make it unless they travel abroad. “They are to tell Nigerians to

stop going to seek greener pastures where it does not exist and what they can do to stop this mentality is to support the private sector. “There is the need for the government to support the local industry so that it will become attractive and a major employer of labour; the governments need to invest in security and employment

generating ventures,” he added. He also reiterated the need to change the mentality of graduates going out there to look for job; saying that the incoming government should revamp the education system so that graduates will not go out there looking for jobs but the education they have received should impact in them a mindset of employers of labour.

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

World News I will not lead a government that doesn’t have that referendum in law and carried out.. –BRITISH PRIME MINISTER, DAVID CAMERON

Three rescued eight days after Nepal’s quake, death toll now over 7,000 PAUL ARHEWE

WITH AGENCY REPORTS

hree people were pulled out alive from the rubble of their home eight days after Nepal’s devastating earthquake, an official said on Sunday, but rescuers have found about 50 bodies on a popular trekking route that was hit by an avalanche. The current toll of 7,056 dead is likely to rise as an entire village was carried away by the avalanche and many more people are believed to have died, officials said. A home ministry official said police and army rescued three people from the rubble in the district of Sindhupalchowk, northeast of the capital Kathmandu and one of the worst-hit areas in the country. No further details were immediately available. In the northern Rasuwa district, a Nepali police team has pulled out the bodies of about 50 people, including some foreign

A Nepalese woman sitting with her son near their house, destroyed in the earthquake, in Pauwathok village, Sindhupalchok district, Nepal, on Saturday

trekkers, from the avalanche-hit area, officials said. The entire village of Langtang was wiped out by the avalanche, said Ganga Sagar Pant, the head of the Trekking Agencies Association of Nepal, who has a representative in the area. “All that is left is scattered belongings like bags and coats,

all the houses have been thrown down the mountain,” he said. “There is nothing left. I don’t think anyone can survive that.” The village is on a popular trekking route and has 55 guesthouses catering to visitors. It was not clear how many people were there at the time of the avalanche and whether they were

Italy rescues 4,500 migrants, 10 die

early 4,500 migrants were plucked from boats off the coast of Libya over the weekend and 10 bodies were recovered, Italy’s coast guard and navy said, in what looked to be the biggest rescue mission of its kind so far this year. Two weeks after nearly 900 boat people drowned in the worst Mediterranean shipwreck in living memory, the flow of people from Africa desperate to reach a better

life in Europe has accelerated, as people smugglers take advantage of calmer seas. Seven bodies were found on two large rubber boats packed with migrants and rescuers plucked from the sea the corpses of three others who had jumped into the water when they saw a merchant ship approaching, the coast guard said. Separately, authorities in Egypt said that three died when a migrant boat attempting to reach

Migrants boarding a bus after arriving at the Lampedusa island, yesterday

Greece sank off its coast. Thirtyone people were rescued. Some 10 Italian vessels, four private boats and a French ship acting on behalf of the European border control agency took part in the rescue off Libya, coordinated by Italy, the country that receives the biggest number of Mediterranean migrants. The private Migrant Offshore Aid Station, which runs one rescue ship in partnership with Doctors Without Borders, said on Twitter it had saved 369 migrants, mainly from Eritrea, from a single overcrowded wooden boat. All of those rescued were being brought to Italian shores, some already arriving at Lampedusa, Italy’s southernmost island, and others at Trapani, Sicily. More were to be brought ashore overnight and on Monday. Shocked by last month’s record disaster, European Union leaders agreed to triple funding for the EU sea patrol mission Triton, but there is still disagreement on what to do with the people fleeing conflict and poverty in various parts of Africa and the Middle East.

foreigners or local villagers. None of the recovered bodies has been identified, said Pravin Pokharel, deputy superintendent of police in the northern district of Rasuwa. Pokharel, who led the police team, said the bodies were pulled out from under snow and ice on Saturday. Rescuers were to return to the remote area on Sunday. At least 200 other people are still missing in Langtang, including villagers and trekkers, said Uddhav Bhattarai, the seniormost bureaucrat in the district. “We had not been able to reach the area earlier because of rains and cloudy weather,” he said by telephone.

‘Kerry in Kenya to offer help against militants’

U.S. Secretary of State John Kerry arrived in Kenya on Sunday to offer help in countering Somali al Shabaab militants who have staged deadly attacks there and elsewhere in East Africa. Kerry will also address Kenya’s human rights in meetings with President Uhuru Kenyatta and other government officials as well as discussing the troubled peace process in South Sudan and violence in Burundi, a U.S. official said. Kerry’s visit followed the killing of 148 people by al Shabaab militants in an attack on the university at Garissa, nothern Kenya, on April 2. “We will be looking at additional ways that we may be able to support Kenyan efforts to fight al Shabaab,” the official said, without giving details. Kenyan Foreign Minister Amina Mohamed said last month that Nairobi wanted intelligence, surveillance, and reconnaissance support from Western allies.

WORLD BULLETIN UK’s new princess meets royal family members The newest member of Britain’s royal family, a daughter born to Prince William and his wife Kate, met her grandparents and other family members at the couple’s Kensington Palace home in London yesterday. The baby girl, fourth in line to the British throne, has yet to be named. She was born on Saturday morning at St Mary’s Hospital, West London and returned home on Saturday evening after a brief public appearance on the hospital steps. A statement from Kensington Palace said grandfather Prince Charles, next in line to the throne, and his wife Camilla had visited the newborn. Kate Middleton’s parents and sister also travelled to meet the baby. Prince Harry, the baby’s uncle, was in Australia and not among the visitors, but he sent a message in the Kensington Palace statement: “She is absolutely beautiful. I can’t wait to meet her.”

Heavy clashes in Yemen’s airport, alliance accused of cluster bomb use Local fighters battling the rebel Houthi militia in Yemen’s port of Aden stormed areas around the airport on Sunday in an operation supervised by the Saudi-led coalition, which also provided air support, the group’s spokesman said. “Special forces from the southern fighters have been prepared and trained for an operation to attack Aden airport,” said Ali al-Ahmadi, spokesman for the Southern Popular Resistance. Ahmadi retracted an earlier statement that 40-50 coalition special forces fighters had deployed alongside his militia and Saudi Arabia denied that a major ground operation was under way or that it had put non-Yemeni forces on the ground in Aden. The coalition, which seeks to restore the government of President Abd-Rabbu Mansour Hadi, includes eight other Arab states and is receiving logistical support from the United States, Britain and France. It has refused to rule out the eventual use of ground troops, but to date it has mostly used air power and some artillery on the Saudi border to bombard Iranianallied Houthi militia and allied army units.

National Mirror www.nationalmirroronline.net

North

Monday, May 4, 2015

PDM criticises Jonathan over Boko Haram Tordue Salem ABUJA

L-R: Emir of Dass, Alhaji Usman Bilyaminu; President, Dangote Group of Companies, Alhaji Aliko Dangote and Bauchi State Governor Isa Yuguda, praying during a condolence visit to Governor Yuguda over the death of his mother, Hajia Hauwa Yuguda, in Bauchi at the weekend. PHOTO: NAN

Reprisal: Soldiers kill over 400 Plateau villagers —Monarch James Abraham JOS

oldiers attached to Special Task Force in Plateau State have been accused of killing over 400 villagers in Wase Local Government Area of Plateau State. Traditional Head of Kumbun community, who made the allegation while speaking with journalists in Jos yesterday, identified three Taroh villages, Kadarko, Kurmi and Wadata, as most affected by the assault by the military, who he said invaded the communities for no justifiable reason.

National Mirror reliably gathered that soldiers in over 40 trucks had arrived the villages on Saturday following reports of alleged killing of four soldiers at Angwan Nanmi, Karin Lamido Local Government Area of Taraba State. The traditional ruler told journalists that the community had been thrown into mourning by the soldiers’ action, wondering why such horror would be visited on them for what they did not know. He said: “We are still in shock over what the military did to our people, as I speak to you, corpses of our people that were killed

still litter the communities, thousands of homes were burnt and some of our villagers were burnt in their homes, including children and the aged. Spokesman of the Special Task Force, Captain Ikedichi Iweha, while reacting to the allegation on Saturday, said there was no truth in the claim that its members attacked anybody. According to him, following frequent attacks on communities around the Plateau/Taraba border by some militiamen, the STF and soldiers from 3 Armoured Division of the Nigerian Army had been

carrying out operations targeted at flushing out the militiamen, adding that soldiers who were working to protect innocent civilians could not turn around to kill the same civilians. Another citizen of the locality who did not want his name in print also insisted that scores of persons were killed, according to him: “The soldiers arrived the area and opened fire on innocent people, burning their houses. “It is not clear why soldiers would open fire on the people they are supposed to defend,” the resident added.

Borno deploys psycho-traumatic workers to IDP camps Inusa Ndahi MAIDUGURI

orno State government said it has deployed social workers to Internally Displaced Persons, IDP camps, to address rising cases of “psychosocial-trauma and psychiatric related problems” among displaced persons currently taking refuge in various camps in Maiduguri metropolis. This was disclosed yesterday in Maiduguri by Dr. Muhammad Ghuluze, Director of Emergency Medical Response Department, EMRD, in the Ministry of Health; while inspecting some affected camps in the metropolis.

He said the objective of deploying social workers was to assist displaced persons who had suffered trauma from activities of the Boko Haram insurgents in the state. He said the ministry had also established clinics in most IDP camps in the state last year. Ghuluze said the ministry also deployed doctors, nurses, midwifes and other health workers to ensure proper and efficient running of the clinics. “We have already set up medical clinics in 18 of the 21 IDP camps in Maiduguri with the aim of providing medical services to displaced persons. “We also recently mo-

bilised social workers, including psychiatric doctors to the clinics after we identified high rate of psychiatric disorders

in the camps last week, while a team of NEMA and SEMA officials were inspecting some of the camps.”

ational Chairman of the Peoples Democratic Movement, PDM, Alhaji Bashir Yusuf Ibrahim, has criticised outgoing President Goodluck Jonathan for escalation of Boko Haram activities in the North East, saying the president slept over the issue for three years without action. The PDM chieftain said President Jonathan misinterpreted the insurgency as a religious war, rather than the result of lack of good governance, poor leadership, misinterpretation of the teaching of Islam and poverty in the North East as the main factors responsible for the tragedy in the area. Bashir, who spoke at the weekend, argued that Boko Haram insurgency was not religious nor directed to frustrate anybody’s administration, but an economic and political problem couched in religion. According to him, today every aspect of the nation’s national life is riddled and engulfed with corruption, while the military has been politicised with few Nigerians who stand out and has vehemently refused to succumb to the illegality the Jonathan administration accepted and embraced. Bashir also regretted that the Jonathan administration was riddled with corruption, poverty, unemployment, injustice, gun trafficking, frustration, struggle against inequality, and general poor governance. The party chieftain, who also spoke on youth

unemployment, the economy and leadership deficit in the country, said the Gross Domestic Product, GDP, in the country does not reflect on the living condition of most people, regretting further the fact that government’s inability to protect the citizenry was largely responsible for the crisis, especially in the North East. He added that killing in the North East was enough reason for a change of government in Nigeria, stating that a situation where over one billion dollars is being stolen monthly in the country by some cabals was not obtainable anywhere in the world. On the success of the Buhari administration, the PDM chairman hinges his apprehensions on the high expectations by the Nigerian people, saying the only thing that would salvage the administration is a deliberate campaign for attitudinal change at all level of governance among Nigerian. He said that it will not be easy for the Buhari administration to fix the country, but, however, optimistic that with the track- records of the incoming president, changes would be realised with time. While regretting that over $6.7 billion was being lost to crude oil theft yearly, coupled with the over three dollars billion missing from NNPC, the party boss said unless the security situation and other major factors militating against the development of Nigeria were addressed, the growth of the nation’s economy may continued to be stalled.

NAFDAC ready to eliminate expired drugs menace —Orhii

i r e c t o r- G e n e r a l of National Food, Drugs Administration and Control, NAFDAC, Paul Orhii, has renewed the agency’s determination to eliminate influx of fake and expired drugs into Nigeria. He said this on Sunday at the Emir of Ilorin’s palace when he paid a courtesy call on the emir. Orhii assured the emir that the agency will work out modalities to detect ex-

pired drugs as it has done in detecting fake drugs. The director-general said the agency was still investigating the local gin that killed some people in Ode-Irele, Ondo State, few weeks ago. The NAFDAC Director General solicited the support and cooperation of corporate organisations and individuals to enable the agency get rid of counterfeit drugs. Responding, the Emir,

Alhaji lbrahim Sulu-Gambari, advised NAFDAC to install machines that would detect expired drugs. He expressed dismay that some expired drugs have killed unsuspecting Nigerians, appealing to the agency to tackle the menace with the utmost attention and urgency it requires. According to the traditional ruler, detection of expired drugs will go a long way towards protecting lives and health of many

Nigerians. He also advised the agency to intensify its effort in the campaign against manufacturing and use of counterfeit drugs. Sulu-Gambari, however, lauded NAFDAC for putting in place strategies that could detect fake drugs pushed into the Nigerian market by the peddlers interested in making quick money at the expense of human lives of the innocent people.

North

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Farmers urge Buhari to diversify economy Wale Ibrahim LOKOJA

ll Farmers Association of Nigeria, AFAN, has called on the President-elect, Gen. Muhammadu Buhari (rtd), to diversify the economy, using agriculture as means of combating the dwindling fortune from the oil sector. A member of the technical committee of AFAN, Dr. Tunde Arosanyin, who made the call while speaking during a chat with newsmen in Lokoja at the weekend, said agriculture remains the most vibrant option for the country whose fortune have been going down from the monolithic oil-driven economy. Arosanyin said the President-elect would have to make this happen by giving adequate budgetary requirement to the agriculture sector as well as making the sector attractive to farmers in a more enterprising way. “General Buhari must ensure the agric sector gets the basic budgetary requirechange OF naMe

EZEH: Formerly know and addressed as Miss Ezeh Anastecia, now wish to be known and addressed as Mrs Ogbozor Anastecia. All former documents remain valid. General Public Please take note.

change OF naMe

NWEKE : Formerly known and addressed as Miss Nweke Joy Chinenye, now wish to be known and address as Mrs Okonkwo Joy Chinenye. All former documents remain valid. NYSC and public note.

change OF naMe

OBIDE : Formerly known and addressed as Miss Obide Chizobam Janet now wish to be known and address as Mrs Moddili Chizobam Janet. All former documents remains valid. NYSC and public note.

ment. We must respect the 2003 Maputo Declaration, which earmarked three per cent of African country’s annual budget for agriculture, since we are signatory to it. “The incoming administration must also make the sector attractive to farmers. Farming must not only be a source of feeding, but also be taken as a serious business that can generate income for the country. There are many ECOWAS initiatives and programmes the country can follow. Fish and timber are currently in high demands in the international market. “Obviously, the country can generate high revenue from the agriculture sector if it invests highly in it. Buhari must drive Nigeria’s economy on agriculture, because it remains the only viable alternative to the country in view of the dwindling fortune of oil in the international market. “No country can be successful on a monolithic economic product. Nigeria change OF naMe

NWANKWO: Formerly know and addressed as Miss Ndudi Irene Nwankwo, now wish to be known and addressed as Mrs Ndudi Irene Nwankwo. All former documents remain valid, NYSC and general Public Please take note.

change OF naMe

OKONOZI: I, formerly known and addressed as Okonozi Arinze Ivo now wishes to be known and addressed as Okonobi Arinze Ivo. All former documents remain valid. General p ublic take note.

change OF naMe

EBOH : Formerly known as Miss Eboh Uchechukwu Vivian now wish to be known and address as Mrs Ohajuluka Uchechukwu Vivian. All former documents remains valid. Fed College of Education Umunze and public note.

change OF naMe

The family of Ezeh Obiageli Ethel and the Children 1. Ezeh Udoka Idoko (son) 2. Ezeh Nneoma Grace (daugther) 3. Ezeh Obumneke Gold (daugther) now wish to be known and addressed as Peter Obiageli Ethel and the children 1. Peter Udoka Idoko (son) 2. Peter Nneoma Grace (daugther) 3. Peter Obumneke Gold (daugther). All former documents remain valid general public take note.

change OF naMe

ANI: Formerly Known And Addressed As Miss Ani Onyinyechi Jennifer Now wish To Be Known And Addressed As Mrs Ali Onyinyechi Jennifer. All Former Documents Remain valid. General public take note

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Formerly known and addressed as Miss Bankole Salimot Bamidele now wish to be known and addressed as Mrs. Balogun Salimot Bamidele. All former documents remain valid. General public please take note

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Formerly known and addressed as Odanye Oluwakayode Joseph now wishes to be known and addressed as Olabiyi Oluwakayode Joseph. All former documents remain valid. General Public note

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I formerly known and address as Miss Imo Chinonso Lilian now wish to be known and address as Mrs Imo Chinonso. All former documents remain valid. NYSC and general public please take note.

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OKEGBU: I, formerly known as Miss Okegbu Vivian, now wish to be known and addressed as Mrs Aleke Vivian. All former documents remainvalid. Fed. Poly K/N Zamfara State and general public please take note.

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Formerly known and addressed as Miss Fetuga Saidat Adefunke, now wish to be known and addressed as Mrs Owodunni Saidat Adefunke. All former documents remain valid. General public take note

must look into other sectors to rejuvenate the economy and tackle the high rate of unemployment; if not we will continue to wallow in the conundrum of this socio-economic menace,” he noted Arosanyin also urged the President-elect to look into the pitfall that characterises the agricultural transformation initiative of the outgo-

ing administration of President Goodluck Jonathan. He explained that the Agricultural Transformation Agenda, ATA, is good at policy level but poor in implementation, noting that there were laudable initiatives in the ATA, especially the cassava bread initiative, dry session rice plantation and the crop processing zone initiated across the country.

“But what they gain at the conception state, they lose at the implementation stage. There were so many loopholes that many states and local governments were taking advantage of to sabotage the effort. The incoming administration must look into such areas and find a good synergy with other tiers of governments if it wants to achieve the de-

sired result. “The president-elect, being a cattle rearer himself, must make adequate preparation in the re-establishment of cattle grazing zones across the country. Only that will guarantee peaceful settlement between cattle rearers and the communities in which they ply their trade across the country,” he said.

Katsina: TUC cautions incoming govt on defectors James Danjuma KATSINA

he incoming All Progressives Congress, APC-led administration in Katsina State has been advised to be wary in accepting all manner of defectors into the party. The state’s council of Trade Union Congress (TUC) of Nigeria, which gave the advice in a statement, said not all defectors stand for the well-being of the state. The statement signed by change OF naMe

OHAECHESI: Formerly known and addressed as Miss. Ohaechesi Nneka Joyce now wish to be known and addressed as Mrs. Ajamekwe Nneka Joyce. All former documents remain valid, NYSC and general public take note.

change OF naMe

the union’s chairman, Comrade Lawal Bossa, said some defectors may be wolves in sheep’s clothing, whose aim is to steal and destroy the administration. According to the statement, “we have watched politicians from one party jumping into another; we strongly caution the incoming governor-elect that not all defectors are for the wellbeing of the state.” It, however, commended politicians and Nigerians in general for ensuring peaceful conduct of the 2015 elections, with a call on all electchange OF naMe

IKWUEZE: Formerly known and addressed as Miss. Ikwueze Onyinyechi Annabel, now wish to be known and addressed as Mrs. Igwe Onyinyechi Annabel. All former documents remain valid. General public take note.

change OF naMe

ed politicians not to fail the electorate. “The 2015 election has come and gone; we call on the losers at all levels to accept their fate and lend support to the winners,” the letter stated. It however added that, “the winners must be ready to welcome positive participation and inputs from losers.” It particularly called on the state’s governor-elect, Aminu Bello Masari, to give priority to tackling corruption, insecurity and high cost of governance. change OF naMe

NNOLI: Formerly known and addressed as Miss. Nnoli Chidimma Victoria, now wish to be known and addressed as Mrs. Okoli Chidimma Victoria. All former documents remain valid, NYSC and general public take note.

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CHUKWURAH: Formerly known and addressed as Miss. Chukwurah Ebele Chioma same person as Mrs. Enekebe Ebele Chioma, now wish to be known and addressed as Mrs. Chukwuzubelu Ebele Chioma. All former documents remain valid. General public take note.

OKECHUKWU: Formerly known and addressed as Miss. Okechukwu Kosiso Obianuju, now wish to be known and addressed as Mrs. Enigwe Kosiso Obianuju. All former documents remain valid. General public take note.

EZEIBEANU: Formerly known and addressed as Miss. Ezeibeanu Chika Oluoma, now wish to be known and addressed as Mrs. Offor Chika Oluoma. All former documents remain valid. General public take note.

change OF naMe

cOnFiMatiOn OF naMe This is to confirm that Bello Folakemi Millier is the same one person as Bello Aishat Folakemi, that henceforth wish to be called and addressed as Bello Aishat Folakemi. All former documents remain valid. General public should please take note.

Formerly known and addressed as Miss Ayeni Florence Oyebukola, now wish to be known and addressed as Mrs Akinwumi Florence Oyebukola. All former documents remain valid, general public should please take note.

AJAO: I formerly known and addressed as Miss Ajao zainab Tope, now wish to be known and addressed as Mrs Azeez zainab Tope. All former document remain valid. NYSC and the general public take note.

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ONIBUDO: Formerly Known And Addressed As Miss Rukayat Omolara Onibudo, Now Wish To Be Known And Addressed As Mrs Rukayat Omolara MuhammodJuma. All Former Documents Remain valid. General Public Take Note.

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OBIORA: Formerly Known And Addressed As Miss Rita James, Now wish To Be Known And Addressed As Mrs Rita James Obiora. All Former Documents Remain Valid. General public take note.

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I, Formerly known as Kalu Kalu Onuma, now wish to be known and addressed as Onuma David Ben. All fomer documents remain valid. General public should please take note.

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Formerly known and addressed as Miss Odewole Kafayat Amope, now wish to be known and addressed as Mrs Oyetunji Kafayat Amope. All former documents remain valid. General public take note

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OYEKOLA: Formerly Known And Addressed As Miss Oyindamola Olasunbo Oyekola, Now Wish To Be Known And Addressed As Mrs Oyindamola Olasunbo Fashina. All Former Documents Remain valid. General Public Take Note

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Formerly known and addressed as Miss Ijeoma Jessica Emeraku now wish to be known and addressed as Mrs Ijeoma Jessica James Godswill. All former documents remain valid. NYSC and the general public take note

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SANNI: Formerly known and addressed as Sanni Lawal Oyindamola, now wish to be known and adresssed as Lawal Barakat Oyindamola. All former documents remain valid. General public take note.

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Formerly known and addressed as Miss Makewu Bukola Oluwayemisi, now wish to be known and addressed as Mrs Ologunja Bukola Oluwayemisi. All former documents remain valid. General public take note.

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formerly known and addressed as Miss Komolafe Bolanle Cecilia and Mrs Jide-Kikiowo Omobolanle Cecilia now wish to be known and addressed as Mrs Gbenga-Ainenehi Omobolanle Cecilia. All former documents remains valid. General Public Take Note.

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“The incoming government should formulate and implement policies that will serve as catalyst for mass creation of decent and well paid jobs in public and private sectors of the economy,” the party stated. It also called on the incoming administration to “enforce strict compliance with best practices in the recruitment and promotion of public service workers” so as to “attract best brains into the service and facilitate efficient and effective service delivery to the citizenry.” cOnFiMatiOn OF naMe

This is to confirm that Nnajioffor Okwudili Jude is the same one person as Nnajioffor Alexis Jude, that henceforth wish to be called and addressed as Nnajioffor Alexis Jude Okwudili. All former document remain valid. First Bank, IMT, Sterling Bank and general public should please take note.

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ONWUKAMUCHE: Formerly known and addressed as Miss. Onwukamuche Chinenye Favour. now wish to be known and addressed as Mrs. Orakwue Chinenye Favour. All former documents remain valid. General public take note.

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APELEHIN: Formerly Known And Addressed As Miss Apelehin oluwadamilola Esther, Now wish to be known and addressed as Mrs Davies Oluwadamilola Esther. All Former Documents Remain valid. General Public Take Note

change OF naMe

AKPAN: Formerly Known And Addressed As Miss Edu Nicky Akpan, Now Wish To Be Known And Addressed As Mrs Edu Oshoke Bright. All Former Documents Remain valid. General Public Take Note

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Formerly known and addressed as Miss Nwaokeocha Fidelix Mirrian, now wish to be known and adresssed as Mrs Okorie Ifeanyi Mirrian. All former documents remain valid. NYSC and general public take note

Formerly known and addressed as Miss Ugochi Chinenye Ngumoha, now wish to be known and adresssed as Mrs Ugochi Chinenye Egwim. All former documents remain valid. General public take note

change OF naMe

cOnFiMatiOn OF naMe This is to inform the general public that Ogba Chidinma Kalu and Kalu Chidinma Precious refer as one person but now Kalu Chidnma Precious. All former documents remain valid. ABIA POLY and the general public take note

Formerly known and addressed as Miss. Enemuokeke Chisom Anastacia, now wish to be known and adresssed as Mrs Achilugo Chisom Anastacia. All former documents remain valid. General public take note.

change OF naMe

Formerly known and addressed as Jayeoba Temidayo Eunice will change to Falusi Temidayo Eunice. my hubby’s name is Falusi Olayemi Olawale. All former documents remain valid. General public take note.

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HELEN: I formerly known and addressed as Miss Adejare Olufunke Helen now wish to be known and addressed as Mrs Shafe Olufunke Helen. All former documents remain valid. General public take note.

Monday, May 4, 2015

National Mirror www.nationalmirroronline.net

Sport

We are not under pressure with regard to delivering the AFCON 2017 ticket. We are calm and ready

EPL title: Mikel Obi’s family celebrate in Jos

–BURKINA FASO CAPTAIN, CHARLES KABORE

N/Zealand 2015:

F’Eagles hit gym in Germany …Coach Garba to submit final list May 15 EVEREST ONYEWUCHI

igeria’s Flying Eagles landed in Germany yesterday morning after a six-hour flight from Abuja the previous night, to begin final preparations for the FIFA U-20 World Cup that kicks-off in New Zealand on May 30. A statement from the Nigeria Football Federation (NFF) said the African champions made up of 26 players and 10 officials touched down at the Frankfurt Airport by 5am Nigerian time and then made the three-hour bus ride to Nurnberg, where they will be for the next three weeks finalising their preparations for the World Cup. All 21 players from the 2015 African Youth Championship (AYC) triumph in Dakar, Senegal, are on the trip to Germany. The statement said team spirit has been very high and the players will hit the gym this morning to begin proper conditioning. Already, Coach Manu Garba has commended the NFF for making it possible for his team to fly overseas for maximum concentration. “The NFF has done very well to get us out of the country for us to fully concentrate on the huge task ahead and we believe we will justify the confidence of Nigerians in this team,” Garba said. National Mirror understands that the weather is cold and rainy, but goalkeeper Olorunleke Ojo said they will cope. “It is not as cold as some of us feared. We can cope with the weather,” said the Giwa FC shot

stopper. Fellow goalkeeper, Joshua Enaholo, was excited to make his first trip to Europe. “I like what I see. I hope I can return to Europe soon to start a professional career,” said the goalkeeper, who was first choice at the 2015 African Youth Championship in Senegal in March. The squad will be joined by four other Europe-based players in Germany, namely Isaac Success (Granada, Spain), Wilfred Ndidi (Genk, Belgium), Moses Simon (Gent, Belgium) and Kelechi Ihenacho (Manchester City, England). Nigeria, which is drawn drawn against Brazil, Hungary and North Korea, has until May 15 to submit a final 21-man squad list to FIFA for the World Cup.

Flying Eagles’ goalkeeper, Dele Alanpasu in action for Nigeria

Glo League results Sharks

Taraba

Dolphins

Lobi

Gabros

Enyimba

Giwa

Bayelsa

El-Kanemi

Akwa

Wikki

Rangers

Heartland

Sunshine

Nasarawa

Abia

Kwara

Pillars

Pinnick meets Blatter again P resident of Nigeria Football Federation (NFF), Mr. Amaju Pinnick, is expected to meet with FIFA President, Mr. Sepp Blatter, at the Home of FIFA in Zurich, Switzerland, today. The meeting, the second Pinnick is having with Blatter since his Board’s inauguration, will start at 2pm Switzerland time, which is 3pm Nigeria time. Pinnick said on Friday that

the visit is in line with the NFF administration’s vision of constantly bonding with the world body, and also to seek more FIFA projects for Nigeria. “Nigeria is the biggest black nation on earth. One out of every five black people in the world is a Nigerian, so our country can no longer be a silent member of world football. “Nigeria is big deal, not only because of our population, but as a result of what we bring

to the table of world football, through taking part in almost all FIFA championships, one of the very few countries in the world that is able to do that.” The NFF said in a statement yesterday, that Pinnick will also discuss with Blatter on more high quality projects for Nigeria, to be funded by the world body. “Presently, we have the FIFA Technical Centre, and the FIFA Football Turf that we

got through the Win-In-AfricaWith-Africa programme for the 2010 FIFA World Cup. We also have approval for Centres of Excellence in Bauchi, Lagos and Anambra States. “However, the present NFF administration is of the view that the outstanding projects, for which approval has been secured, should commence immediately, and that Nigeria deserves more FIFA projects at this stage,” Pinnick said.

Sports

Monday, May 4, 2015

Chelsea

National Mirror www.nationalmirroronline.net

EPL results Chelsea

Crystal Palace

Tottenham

Man City

Chelsea players celebrating after beating Crystal Palace at Stamford Bridge yesterday

seal fifth EPL title

he family of Chelsea midfielder, Mikel Obi, in Jos yesterday celebrated the player’s achievement after he won his second English Premier League title with the Blues following a 1-0 win over Crystal Palace at the Stamford Bridge. Mikel played 45 minutes as Chelsea beat Crystal Palace 1-0 when he came on for Juan Cuadrado. Mikel’s older brother, Tony Obi, told AfricanFootball.com

…Obis celebrate in Jos that the family hosted friends to their home after the game. “We were all glued to the TV screen few minutes before the game started to watch the game and see Mikel winning the title,” the brother said. “We are all very happy here to see him winning the title. It has been God all the way for his life

and career. It was not an easy feat. “We prepared delicious food and bought drinks for the celebration because we believe he was winning the title today (yesterday), all the family members and some friends watched the game together and we ate and drank together. “As you know us here, this is

Mayweather C Mayweather

hampion Floyd Mayweather says he intends to give up his three welterweight title belts to give other boxers a chance to win them. The American, who comfortably beat Manny Pacquiao on points with a technical masterclass in their hugely anticipated mega-fight in Las Vegas on Saturday, confirmed that he would fight again in September, but that it may not be a world title bout. Mayweather holds the WBA, WBC and WBO titles but he says he is going to give them all up, potentially in the next two weeks. “I’m going to relinquish all the belts. I don’t know if it will be on Monday (today). Probably

a Christian family, we always give God thankss for everything, we will be holding a thanksgiving service for this achievement next Sunday at St.Theresa Catholic Church in Jos.” Mikel has won two EPL title in 2009/2010 and 2014/2015, he has also won four FA Cup winners’ medal in 2006/2007, 2008/2009,

Obi

2009/2010 and 2011/2012. The Jos-born star has also won League Cup twice in 2006/2007 and 2014/2015, Charity Shield in 2009/2010, UEFA Champions league in 2011/2012 and Europa Lleague in 2012/2013.

gives up title belts

in a couple of weeks, I’m going to talk with my team. Why? Other fighters need a chance. I’m not greedy,” he said. Mayweather criticised the media who he said had accused him of avoiding a showdown with Pacquiao. “Muhammad Ali called himself the greatest, but this is my era. And in my era I’m TBE (the best ever). I was born a winner and will die a winner. I’m the American dream,” he added. Mayweather said that only his desire to keep his word and fulfil his six-fight Showtime contract will see him fight again in September. “My goal was to make nine figures in one night,” he joked.

Pacquiao

National Mirror www.nationalmirroronline.net

Sports

Monday, May 4, 2015

Table tennis

Omotayo, others get Chinese largesse

Umar

Omotayo

mpressed with the giant stride made by Nigeria in recent times, the Chinese Table Tennis Association (CTTA) yesterday donated equipment to the Nigeria Table Tennis Federation (NTTF) to support its youth development programme. The donation was facilitated by the Chinese Ambassador in Nigeria, Gu Xiaojie, and the equipment was received in Suzhou at the re-

cent ITTF World Championships by NTTF President, Wahid Oshodi, including members of the national team led by Segun Toriola. According to the representative of CTTA, Su Yang Yang, the donation was a gesture from the Chinese Government to support Nigeria following the efforts of the West African nation in the sport. The equipment comprised table tennis blade (30), rubber (140),

racket case (20), sports towel (20), sports bath towel (20) and sports backpack (10). Oshodi commended the envoy for the gesture, saying it would aid table tenis promotion in Nigeria. “We will put this equipment into judicious use and we hope to continue to partner the Chinese as well as we believe our players will benefit from using it,” Oshodi said.

IAAF/BTC Relays: Okagbare, others get plaudit MERCY JACOB

echnical Director of Athletics Federation of Nigeria (AFN), Commodore Omatseye Nesiama, has praised the performance of the Nigerian 4x200m women’s team at the IAAF/BTC World Relays in Bahamas. Nigeria emerged ahead of all the participating nations like U.S.A, Jamaica, Bahamas, France, Germany, China and Ireland. “I had said it before now, that we could rely on these women to showcase our prowess in the relays and they have not disappoint-

ed me,” Nesiama said yesterday. “The quartet of Blessing Okagbare, Regina George, Dominique Duncan and Christy Udoh did the job in that order,”

the AFN top official added. Nesiama said Nigeria withdrew from the men’s 4x100m due to visa issues and ill-health of some athletes, saying that some

Okagbare

400m sprinters would be selected to complete the 4x100m men relay. “Athletes like Ogho-Oghene Egwero, Oghenetega Odele, Rilwan Fasasi and Tosin Adeloye could not make the trip which could have given us more opportunity,” he regretted. Commonwealth 100m and 200m sprint champion, Blessing Okagbare, set the pace for Regina George, Dominique Duncan and Christy Udoh to perfect, as record nine global relay gold medalist, Allyson Felix, and Antonique Stratchan of the Bahamas were left ruing their country’s disqualifications after poor exchanges.

Okpekpe 2015: Local athletes intensify training AFOLABI GAMBARI

thletes around Okpekpe have intensified their training for the 3rd annual 10km IAAF certified Bronze label Okpekpe Race to ensure a bet-

ter outing and record improved time from the previous year. Some of the athletes were sighted at the weekend on the road recently commissioned by President-elect, General Muhammadu Buhari, even as the plain was being marked with

thermostatic ahead of the event holding on May 16. “I decided to train very hard this year before the main race because I didn’t train much last year and was not on the medals range,” one of the athletes said, adding, “I want to win the top prize in the lo-

cal category this year.” Meanwhile, the thermostatic markings have been concluded on the road to make it attractive on television, even as arrangements are being concluded to beam the race live to the international community.

Zenith B’ball: Ilorin, Asaba, chase Phase 2 rights PAUL EREWUBA

he Technical Committee of the Nigeria Basketball Federation (NBBF) yesterday presented Ilorin and Asaba as the two cities bidding for the hosting rights of the 2nd phase of the 2015 Zenith Bank Women Basketball League. Ilorin hosted the last two editions and wishes to host the event for the third straight year but faces strong opposition from Asaba as one of the strongholds of female basketball in Nigeria. Asaba, which annually hosted the 2nd phase in the early years of the Zenith League also wishes to retrieve the rights, having missed out in the last two editions. The board will, however, announce the host after the first phase is over as the organisers said the board would consider the cities that fulfill the criteria set by the technical committee. Meanwhile, the NBBF has penalized managements of DStv Men’s Premier League teams Oluyole Warriors of Ibadan and Kada Stars of Kaduna for owing their players sign-on fees and salaries since last season. The Civil Defenders (Civil Defence team) in the lower league were also due for the NBBF hammer after bringing the game into disrepute by deliberately failing to honour their match against Hoop ‘n’ Read in the National Div-1 championship in November.

WORLD RECORD First evidence running Fastest mileoffiorganised reman’s carry

N150

Vol. 05 No. 1104 Monday, May 4, 2015

T h e e a r l i e s t ev i d e n c e o f o r g a n i s e d r u n n i n g w a s a t M e m p h i s , E g y p t c . 3 8 0 0 B C . I n f o r m a t i o n f r o m A r c h i ve s .

The challenge before opposition PDP

n the week just gone by, there was a hilarious tinge to the relationship between the PDP and APC as the May 29 inaugural ushering in the General Muhammadu Buhari administration draws close. Considering that incumbent President Goodluck Jonathan warmly embraced the prospect of power change when he willingly conceded defeat in the March 28 presidential election, a smooth transition was generally predicted. It now appears the expectation is misplaced. No thanks to power flexing between the two parties. The fact that the nation’s political centre of gravity has fundamentally shifted is seen in the volume of high profile political traffic to the man of the moment, General Buhari. It could also be gleaned from the definitive policy pronouncements of the President-elect

HeartBeat Callistus Oke

Callistusoke@nationalmirroronline.net 08054103275 (SMS ONLY) anthonykila@mail.com that are ruffling feathers. Naturally, it is human that the camp of President Jonathan would voice concerns over the developments. However, I found it strange that such harmless concerns that should receive sympathetic hearing from the camp of the President-in-waiting were vigorously contested in a manner that has the act criminalised. The national publicity secretary of the APC, Alhaji Lai Mohammed, was at his most bellicose mood when he hauled invectives at ‘the Jonathanians’, who he accused of blackmailing the ‘Buharians’. Haba, the issue can be resolved amicably without overheating the polity again. Let the two camps relate with the love of fellow countrymen with the undying love for Nigeria. But, permit me to ask why stop someone that is being psychologically harassed from protesting? Like President Jonathan rightly observed, his presidency expires on May 29. Yes, but perhaps, he should also be informed that with a Transition Committee in place, he should accommodate the assertiveness of the President-in-waiting! The scenario being played out poignantly puts in perspective the new roles of the APC and PDP as from May 29. From the nation’s driver seat it has occupied for 16 years, the PDP would begin to answer the name ‘main opposition party’ and act that very name, while the APC becomes the ruling party. Within the context of power relations, the PDP

NOW THAT THE APC HAS DISPLACED THE

PDP, THE SEARCHLIGHT WILL PERMANENTLY BE ON IT will be playing second fiddle to the APC, which now will begin to dictate the nation’s political pace and set its economic agenda. Thinking about such a prospect is enough to unleash post defeat trauma on the defeated party, particularly if not properly psyched for the new reality. Psyching the PDP for its new role is the main concern of this writer. If its new role is well acted, it could be the vehicle that would win for it the seat of power again in the foreseeable future! After all, in just two years of existence as a political party, the APC has successfully sent the PDP into political limbo. In a two sum game like we now have, the political pendulum could swing either side. Yes, Nigeria is a pronounced two party state. The victory of the APC in the 2015 general elections, especially the presidential election, has ensured this. It is generally acknowledged that the two party system opens infinite possibilities in a nation’s political space. The country’s new political reality is that the two main parties are in a precarious

equilibrium, a balance of power situation, as it were. The President Goodluck Jonathan-era PDP might have suffered relapse, especially after the catastrophic defeat, its first in 16 years, in the recent presidential, National Assembly, governorship and state legislative elections conducted between March and April, 2015. The party is, therefore, only down, definitely it is not out. Such defeat should be a perfect tonic for its rejuvenation. However, how long it stays down depends on the recovery power of its leaders. If truth must be told, however, I doubt if the national hierarchs of the party are on the right track to quick recovery. The defeat, a humbling experience, requires deep introspection of how the party got to this sordid situation. Naturally, fingers would be pointed; blame cast and a variety of assertions for their electoral ineptitude made. What is obvious from the post defeat reactions of its leaders is that defeat was never in the calculations of the party hierarchs; which is why it has become very difficult to swallow. The party must leave its defeat behind it and brace up for its new rule of the country’s main opposition. The two party political order in the country makes the business of winning and losing elections seamless for the political actors. Learning from the experience of the PDP, its long stay in power has helped to expose its faultlines; made more enemies for it, and put it on the people’s firing line, especially for unmet expectations. Now that the APC has displaced the PDP, the searchlight will permanently be on it. What happened to the PDP will become its own portion, especially if it does not satisfy the yearnings of Nigerians. And faster, too. The longer it is in power, the more people come up with reasons to blame it for many things going wrong. When this begins to happen, it signposts the search for a replacement!

Sport Extra

Copa America: Kaka eyes Brazil invitation

ormer World Player of the Year, Kaka, says he still eager to play for Brazil as the South American nation prepares for the Copa America next month.

The 33-year-old midfielder, who now plays for Major League Soccer’s Orlando City, was left out of the Brazil squad for last year’s FIFA World Cup where the hosts lost 7-1 to Germany in

the semi finals. “If Coach Dunga thinks I can fit in this team, I’ll be ready,” Kaka said yesterday. “I think I can still play for Brazil and help with my skills and experience, but it

does not depend on me.” Brazil under Dunga has won all eight of their international friendlies with Kaka playing in two as he came on as substitute in the wins against Argentina

and Japan last October. “We lost our confidence in the last World Cup but Dunga is doing a very good job now and can keep improving,” the former AC Milan and Real Madrid star added.

Kaka

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