Sun 28 feb 2016 online

Oliseh’s resignation, a shocker –NFF

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he Â’Â?erÂ’a oot‹all ederatÂ’o— Çť ǟǰ ¢esterda¢ǰ saÂ’d Â’t  as shoŒ”ed ‹¢ the ž—eÂĄpeÂŒted resÂ’Â?—atÂ’o— oÂ? the žper aÂ?les oaÂŒhÇ° žda¢ lÂ’sehÇŻ — ssÂ’sta—t Â’reÂŒtor oÂ? o––ž—’ŒatÂ’o—s oÂ? the saÂ’d hÂ’s resÂ’Â?—atÂ’o— sžrprÂ’sed the ‹od¢ǯ The Â?or–er aÂ?les Â?aÄ›er resÂ’Â?—ed hÂ’s appo’—t–e—t o— Thžrsda¢ vÂ’a hÂ’s T ’Ĵer

ha—dleÇ° Œ’t’—Â? ÂŒo—traÂŒt vÂ’olatÂ’o—sÇ° ž—paÂ’d  aÂ?es a—d ‹e—eÄ™ts to pla¢ers a—d assÂ’sta—t ÂŒoaÂŒhes as hÂ’s reaso—sÇŻ ž‹sešže—tl¢ǰ the a——ož—Œed the Â?or–er ÂŒoaÂŒh oÂ? the žper aÂ?lesÇ° a–so— Â’asÂ’aÇ° as ’—ter’– –a—aÂ?er ’— hÂ’s plaÂŒeÇŻ la“’re told reporters o— telepho—e that the ’–pressÂ’o— lÂ’seh Â?ave ’— the ÂŒožrse oÂ? the  ee”  as that he  as prepar’—Â? Â?or the —eÂĄt –atÂŒh aÂ?a’—st Â?¢ptÇ° add’—Â? that Çą Čƒ Â’s resÂ’Â?—atÂ’o—  as

a sžrprÂ’seÇŻ There Â’s —o  a¢  e ÂŒožld have ”—o —ǰ a—d he Â?ave žs lÂ’Ä´le pre–o—’tÂ’o— a‹ožt hÂ’s resÂ’Â?—atÂ’o—Dz  e dÂ’d —ot see Â’t ÂŒo–’—Â?ÇŻ Čƒ ll throžÂ?h the  ee”ǰ lÂ’seh ”ept o— tal”’—Â? a‹ožt –eet’—Â? the žper aÂ?les pla¢ers ’— žrope a—d assess’—Â? theÂ’r Â?or– a—d all sortsDz that Â’s all  e Â?ot Â?ro– h’–ǯ Â?ter Oliseh

Newswatch Times Continued on page 2

-Tradition built Truth -Tradition built onon Truth

www.mynewswatchtimesng.com

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SUNDAY

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President Muhammadu Buhari (second right); Charge D’ Affair’s, Nigerian Embassy in Doha, Qatar, Mr. Enoch Pear Duchi (right), at an airport reception of Nigerian Government of¿ciaOs, after he arrived the Emiri DiZan :ing of +amad ,nternationaO Airport, Doha, on the ¿rst day of his State visit to Qataryesterday.

Photo Anayo 2para

REVEALED:

How investors withdrew N2.2tr from Nigerian economy in 2015 R Duro Adeseko

eports have revealed that the ÂŒo—ęde—Œe to ’—vest ’— Â’Â?erÂ’a dropped drastÂ’ÂŒall¢ over the last three ¢earsÇ°  hÂ’le ’—vestors  ’thdre –ore tha— Ĺ˜ÇŻĹ˜ trÂ’llÂ’o— Â?ro– the eÂŒo—o–¢ ’— Ĺ˜Ĺ–Ĺ—Ĺ› alo—eÇŻ ŒŒord’—Â? to statÂ’stÂ’ÂŒs Â?ro– Â’Â?erÂ’aČ‚s

GHDWKV Buhari asks Saudi to conclude investigation >> Page 5

‡ DJHQFLHV XQGHU UHPLWWHG UHYHQXH WR )* ‡ $IULFD QHHGV 86' EQ WR LPSURYH K\GUR PHWHRURORJLFDO VHUYLFHV $I'3

ata žreaž Çť ǟǰ as šžoted ‹¢ žarÄľ Â?rÂ’ÂŒaÇ° ’—vestor ÂŒo—ęde—Œe ’— Â’Â?erÂ’a rose sÂ’Â?—’ęŒa—tl¢ ‹et ee— Ĺ˜Ĺ–Ĺ—Ĺ– a—d Ĺ˜Ĺ–Ĺ—Ĺ™Ç° o—l¢ to ta”e a lÂ’Ä´le dÂ’ve ’— Ĺ˜Ĺ–Ĺ—ĹšÇ° a—d a drastÂ’ÂŒ drop ’— Ĺ˜Ĺ–Ĺ—Ĺ›ÇŻ

Kaduna creates 125,000 jobs >> Page 4

ŒŒord’—Â? to the sožrÂŒesÇ°  he— Â?or–er resÂ’de—t oodlžŒ” o—atha—  as a——ož—Œed aÂŒt’—Â? presÂ’de—t oÂ? the ÂŒož—tr¢ ’— Ĺ˜Ĺ–Ĺ—Ĺ–Ç° Â?ollo ’—Â? the Â’ll—ess a—d sž‹sešže—t death oÂ? –arž

arČ‚ džaÇ° ’—vest’—Â? ’—terest ’— Â’Â?erÂ’a rose ‹¢ Ĺ—ÇŻĹ—Ĺ? trÂ’llÂ’o—ǯ

o everÇ° ’— o—atha—Ȃs seÂŒo—d ¢earÇ° a—d aÂ?ter a ČƒsžŒŒessÂ?žlČ„ presÂ’de—tÂ’al eleÂŒtÂ’o—ǰ ’—vest’—Â? ’—terest rose ‹¢ Ĺ™Ĺ&#x;Ĺœ ‹’llÂ’o— to a— appro¥’–ate Ĺ—ÇŻĹœ trÂ’llÂ’o—ǯ ¢ Ĺ˜Ĺ–Ĺ—Ĺ™Ç° ’—vest’—Â? ’—terest ’— Continued on page 2

ICAN supports FG’s fight against corruption >> Page 5

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

NEWS How investors withdrew N2.2tr from Nigerian economy in 2015 Continued from page 1

Nigeria had risen by N2.65 trillion to N4.22 trillion. In 2014, towards the build-up to the 2015 general elections, which predicted endless doom for Nigeria, some investors withdrew their monies from the Nigerian economy, leading to a drop from N4.22 trillion to N4.1 trillion.

In 2015, however, there was a drastic withdrawal of investment interest in Nigeria, and according to the NBS, investing interest declined by N2.2 trillion that year alone. Some investors blamed it on the uncertainties that surrounded the 2015 elections, while many others ęngered the lac of policy direction in the ęrst ęve months of President Muhammadu Buhari’s administration. ata from the Nigerian Stoc Exchange (NSE) also revealed that investors were voting their monies out of the economy prior to the election, but immediately after the relatively free and fair poll, they brought the monies bac .

Then, three months before the election, NSE lost 8.40 percent of its worth, only to regain 8.30 percent in a single day after the election. By March 31, 2015 – while the election results were being collated – the NSE mar et capitalisation was at N10.718 trillion, but it rose to N11.62 trillion after Buhari’s victory.

The bullish phenomenon was termed ‘Bullhari’. s at ecember 31, 2015, the mar et cap was down from N11.62 trillion in April to N9.85 trillion.

Sources said no fewer than 598 advertisement trillions of naira that should have come to Nigeria in 2015 were unremiĴed.

According to TheCable, about 600 government agencies, under-remiĴed revenues generated to the federal coěers.

“The Federal Government has nearly 600 agencies covering a wide spectrum of activities such as central and mortgage ban ing, insurance, oil and gas, maritime administration and safety, air and sea port management

(PH¿HOH

etc,” the report said.

“These agencies control trillions of naira, but paradoxically, they account for only 5 per cent of the Federal Government budget deęcit ęnancingdz the record shows that none of them, except those managed by technical partners (NITEL, NIGERDOCK, NAFCON etc), ma e proęts.” And in order to ensure eěective and eĜcient remiĴance by public agencies, former President, Umaru Musa Yar’adua, signed the act mandating government agencies to remit 80 percent of their operating surplus to the Consolidated Revenue Fund (CRF) of the FG, while eeping 20 percent in the agency’s general reserve fund.

Though the FRA, which covered just 31 of over 500 agencies, was defective in its enactment, neglecting hundreds of revenue generating agencies, most of the ones listed defaulted in compliance.

Since they were told to remit 80 percent of operating surplus, these agencies, began to post losses rather than

Oliseh’s resignation, a shocker –NFF Continued from page 1

his You Tube error, he called everybody, including the NFF and apologised for the misbehaviour and promised it would never happen again. Now that Oliseh has resigned, it was a surprise to us, but to bridge the gap, Siasia has been appointed to ta e charge with Amuni e assisting him,” he said.

Reactions from football-loving Nigerians trailed his resignation, yesterday. Isa Matori, the chairman of i i Tourists Football Club of Bauchi, said the resignation of Oliseh as Chief Coach of Super Eagles was a blessing to Nigerian football. Oliseh, according to Matori, who spo e in Bauchi, yesterday, should not have been employed in the ęrst place by the Nigeria Football Federation (NFF).

“I expected his resignation a long time ago, because I believe that it was a mista e in the ęrst place for the NFF to have appointed him to ta e care of the team.

He may have the ualięcations, no doubt about it, but he does not have the requisite experience, the exposure and courage to lead our team to success,” he said.

“He has also been loo ing for a way out of it. You will understand this when you loo at his actions, such as when he had

problems with the team captain (Vincent Enyeama) who has dedicated so much commitment to the nation in the area of football. He should have sympathised with him when he lost his mother. Even when he (Enyeama) was able to turn up in camp, Oliseh’s reaction was bad. So, he has been loo ing for a way to leave the job, and it is a blessing for us as far as I am concerned, because Oliseh cannot ta e us anywhere,” the club chairman said.

Also, Umar Said, a Bauchi-based football commentator supported Matori’s position, describing Oliseh’s resignation as a welcome development in Nigerian football. Said noted that the unending controversies between Oliseh and NFF was the result of the fact that due process was not followed during his engagement. He pointed out that unli e the appointments of Shuaibu Amodu, Stephen Keshi and foreign coaches, where due process, such as screening, was followed before engagement, Oliseh’s appointment “came through the bac door’’.

“In the case of Oliseh, he was smuggled in through the bac door and this has caused the country a lot in the ęeld of football,’’ the former state Chairman of Sports Writers Association of Nigeria (SWAN) said. He called for the engagement of a Grade ‘A’ coach for the team, to enable it forge ahead.

Adeosun

surpluses, thereby remiĴing no amount to the federal purse. During Jonathan era, following the obvious disregard for the FRA, the federal government under Goodluc Jonathan, and the ministry of ęnance under Ngo£i O onjo-Iweala, in November 2011, directed agencies (particularly the revenue generating agencies) to remit 25 percent of their gross operations revenue to the CRF. This directive led these agencies to underreport their revenues, so they could remit less to the federal government.

For instance, in December 2012, NABRO claims that “the Financial Reporting Council expected to receive N1.61 billion as subvention from the government in 2013, generated N4.28 billion internally, and posted a surplus of N85.69 million”.

This happened across many of the agencies listed in the report. The N1.93 billion that the Council should have paid into the CRF of the Federal Government during the period was ept for future use.

The report saidDZ “In eěect, the council had neither regard for the provisions of the FRA, 2007 on remiĴances nor the directive of the Federal Ministry of Finance to remit 25% of its gross IGR to the CRF, however, the audited accounts and treasury receipts indicate that only N105 million of this amount was paid in 2011.

“The OAGF was surprisingly unaware of this as the NPA did not provide any evidence of this remiĴance, saying NPA ‘did not ma e any remiĴance in 2010 but made a total remiĴance of N1.1 billion in 2011 out of which the sum of N167.9 million was in respect of 2009 while the sum of N1 billion was on account of 2010’.

For the NNPC and its subsidiary NAPIMS (National Petroleum Investment Management Services), generated trillions of naira and failed in remiĴance. According to NABRO, NAPIMS “earned N9.58 trillion (excluding proceeds from crude oil and gas) between 2009 and 2011 and accumulated a surplus of N2.07 trillion.

ence, the NNPC ought to have remiĴed the sum of N1.65 trillion to the CRF. However, the sums of N338.26 billion, N572.22 billion and N746.17 billion (due to the Government) were retained and stated as having been transferred to revenue reserve in 2009, 2010 and 2011

respectively.”

The remiĴance shortfall of some of the other agencies according to the report are: “CBN (N45.56 billion); NIMASA (N35.89 billion); NPA (N26.9 billion); Industrial Training Fund (N15.2 billion); Nigeria Deposit Insurance Corporation (N8.7 billion); Federal Airport Authority of Nigeria (N6.92 billion); West African Examination Council (N4.5 billion); Nigerian Communications Commission (N3.8 billion); Nigerian Airspace Management Agency (N3.2 billion); National Agency for Food, Drug Administration and Control (N1.81 billion); National Broadcasting Commission (N627.0 million); Federal Mortgage Ban (N300.3 million); and the Federal Housing Authority (N221.1 million).” NABRO’s ęndings conclude that all the agencies under study generated the sum of N12.24 trillion internally between 2009 and 2012 (excluding NNPC and NAPIMS), but failed to remit a total sum of over N256.35 billion to the consolidated revenue fund.

In a related development, the African Development Ban (AfDB) has estimated that as much as USD 1 billion will be required to improve hydro-meteorological services in Africa.

The Ban said a minimum of USD 100 million to 150 million per year will be needed to moderni£e regional systems.

“Faced with drought, Ěooding, and climate-resilient infrastructure, adequate hydro-meteorological services are necessary to support resilient growth across a range of sectors in SubSaharan Africa. But given 80 percent of such services on the continent are under-funded, have wea capacity and deteriorated infrastructure, collaboration is seen as the only viable solution to help turn the situation around”, AfDB disclosed.

It was revealed that the AfDB and the World Ban recently met to collaborate and discuss the way forward. Both teams exchanged information on Hydromet projects currently under implementation, preparation, and consideration. In an eěort to streamline their approach, it was agreed that a comprehensive strategy and master plan tailored to individual country contexts would guide the process in the future.

Given the important role of Hydromet services in agriculture production, food security, water resource management, air and road safety and disaster management, the mission further highlighted the potential of mainstreaming substantial Hydromet components in regular agriculture and water projects.

Having agreed upon the programme’s objective, rational and approach, the next step will be formali£ing the partnership in writing as discussion begins on the organi£ation of a regional wor shop.

“Given the scope of the challenge, the Africa Hydromet Programme will require a joint eěort to mobili£e suĜcient resources to maximi£e its transformational impact,” said ClimDev Africa Special Fund (CDSF) Coordinator Justus Kabyemera. “Once the formal agreement has been ęnali£ed, a resource mobili£ation strategy will be developed.”

Both parties have discussed operations of its activities which focus on investment, technical assistance and capacity-building, possible synergies and available sources of ęnancing.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

National

NEWS

Group writes CJN, seeks live broadcasts of court proceedings

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i t i z e n s ’ Advocacy for Social and Economic Rights (CASER) has called on the Chief Justice of Nigeria (CJN) to allow live radio and television broadcasts of court proceedings in the country.

The call is contained in a leĴer signed by the Executive Director of CASER, Mr Frank Tietie and addressed to the CJN. According to News Agency of Nigeria who received a copy of the leĴer dated Feb. 26, CASER said that the call became necessary in view of rising public consciousness of ``the role of the courts in ensuring justice, public order and the future stability of Nigeria.’’

It added that the call was also necessary against the backdrop of the ongoing anti-corruption campaign being championed by President Muhammadu Buhari’s administration.

It argued that by the provisions of the amended constitution, live broadcasts of court proceedings especially those bordering on corruption, electoral fraud and terrorism should be the norm and general rule.

CASER said, ``It has become pertinent at this stage of our national life to raise the standard of justice

delivery and its impact on the social development of the nation.

To this end, we most humbly urge Your Lordship to allow live broadcasts of court proceedings to the citizenry.

This is in furtherance of the intendment of Section 36 subsections 3 and 4 of the Constitution of

the Federal Republic of Nigeria 1999 (as amended).

The role of the courts in ensuring justice, public order and the future stability of Nigeria has now begun to take a prominent place in the minds of the citizenry.

This is at the background of a heightened anticorruption campaign by the administration of

President Muhammadu Buhari.’’

It noted that granting majority of the citizenry wider access to court proceedings through live broadcasts would enhance the social engineering function of the law ``in a developing society as ours’’.

According to CASER, the interpretation of Section

Senate Committee on Customs, EFCC to probe Customs

No Plan to remove me –Odigie-Oyegun

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I

Podo Sunday

Emmanuel Iriogbe, Abuja

he National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun on Friday told newsmen that the rumour of his imminent sack was borne out of the imaginations of those peddling the rumour. This is as he also disclosed of his embarking on a two working days (10 days) leave.

In a chat with correspondents, he stated that in his absence, the party’s Deputy National Chairman (South), Engr.

Segun Oni will cover his beat.

According to Oyegun; “I have been APC National Chairman for how long now? Going to two years, and it has been a very intense period building the party and a very intense period puĴing government together up to this point. All that has happened is that I think I deserve a bit of a break and that will start eěective Monday.

“In my absence, the party’s Deputy National Chairman (South), Engr.

Segun Oni will cover my beat. It is that simple, it is that straightforward.

Any speculation about not being in the oĜce is of no consequence.

On Tuesday I was down with malaria, I managed on Wednesday to aĴend that crucial meeting at the presidency, yesterday (Thursday) I had to go to the hospital just to be sure and today I am at work.

So please, please, I know the press is supposed to be imaginative and steer the news but not when there is really nothing to steer. It is that simple”

36 subsections 3 and 4 of the Constitution includes allowing live radio or televised broadcasts of court proceedings. ``Thus, it should be the norm and general rule that court proceedings, especially criminal proceedings such as cases of corruption, electoral fraud with violence and terrorism, be broadcast live in Nigeria. ``This is not being unmindful of Section 36 (4) (a) which serves to provide for the seven grounds of exception that can be invoked upon application or in obvious circumstances. ``We, therefore, hope that by this request, you would consider and give approval for live broadcasts of court proceedings in Nigerian courts,’’ it said.

L-R: Co-founder of Red Media/State Craft Inc., Mr. Debola Williams, Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abudullahi, Senate President, Dr. Abubakar Bukola Saraki, Chairman Senate Committee on FCT, Sen. Dino Melaye, Chairman of Social Media Week, Lagos, Mr. Obi Asika and Sen. Foster Ogola at the Social Media Week in Lagos on Friday.

Photo: Abiodun Omotosho

Pre-convocation lecturer berates NUC on benchmark, accreditation

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re-Convocation Lecturer at the University of Abuja (UniAbuja), Prof. Oyewale Tomori, has faulted the National Universities Commission (NUC) on the use of outdated benchmark in its accreditation of universities and courses.

Tomori raised the concern on Friday in Abuja in his pre-convocation lecture ahead of the 15th to 20th Combined Convocation Ceremony of the University scheduled for Feb. 27.

The topic of the lecture was ``Building a New Generation University: Problems and Prospects.’’

Tomori insisted that the curriculum of courses in a new generation university should be developed to reĚect the needs of the society in which the student would eventually serve.

``We accredit universities using outdated model benchmarks and at the same time, expecting to be ranked among the best universities in the world.

Those antiquated bench marks that have remained on the bench for years have a way of stiĚing innovation and discouraging adapting to the changes required in

our society.

NUC must continue to carry out accreditation using people of integrity who will ensure that every university abides by the rules and regulations of accreditation,’’ he said.

Tomori, who is the president, Nigerian Academy of Science, said that it would be unfair

My Alma Mater, FGC Warri shaped my life –Ambode

…Restates commitment To Qualitative Education In Lagos

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agos State Governor, Mr. Akinwunmi A m b o d e on Saturday said his achievements in life can easily be aĴributed to the lessons he learnt and gained at the Federal Government College (FGC), Warri, Delta State.

The Governor who spoke at the Golden Jubilee/ grand

reunion of FGC, Warri, his alma mater, said all the knowledge and discipline impacted in him during his secondary school days in the College contributed largely to who he is today, just as he urged his old school mates to come together and ensure the vision of the school is kept alive.

The Governor who went

“Following the legislative agenda of the Senate and the House of Representatives of the 8th National Assembly, and in consultation with the Nigerian Economic Summit Group (NESG), the Nigerian Bar Association – Section on Business Law (NBA-SBL) and other key private sector stakeholders; the OĜce of the Senate President initiated a review of the institutional, regulatory and legal instruments currently constraining and impeding business activity in Nigeria.

“With the technical aid and support of ENABLE-DFID and GEMS 3 programmes, a team of experts conducted a business environment legislative review covering the entire raft of legal structures

aěecting businesses today.

The underlying objective of the review is to provide a framework for the assessment and improvement of legislation and policy aěecting businesses in Nigeria”, the statement added.

Prof. Paul Idornigie led the team of Legal Advisers that conducted the research of business environment acts and bills and developed the Business Environment Legislative Review Report.

The report is expected to propose priority legislative areas that will provide a solid foundation of evidence to set priorities for new and revised business environment legislation by the National Assembly.

Saraki to Receive report on Business Environment in Nigeria

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Bukola Bakare enate President, Dr. Abubakar Bukola Saraki will on Monday (February 29th) formally receive the Business Environment Legislative Review Report developed by a team of Legal Advisers to the ENABLEDFID programme, led by Prof Paul Idornigie (SAN).

A statement from the OĜce of the Senate President in Abuja stated the report initiated by the Senate President was in fulęllment of the Legislative Agenda of the 8th National Assembly geared towards creating a business friendly environment in the country.

The statement added that:

to say that there were no universities that met the standard in Nigeria.

He said that it would be diĜcult to sustain quality when the system that checked the quality was faulty, adding that the benchmarks that were set up in 2000 could no longer be relevant in 2016.

down memory lane to recall some of his good old days said, “Indeed, my becoming a governor can be aĴributed to what I gained and learnt from this school.

We must all come together to ensure that the vision of the establishing the school doesn’t die.

It is a great honour to all of us to return here after decades and celebrate this 50th anniversary. We are beneęting from the vision planted years ago.”

I want to assure the Principal that we are going to bring back the good old days of this school.

I wish all the students well and pray that you all be beĴer and more successful than all of us here today.

I like to say a big welcome to seniors and juniors. One great thing about this school is that no maĴer what you become in life your senior remains your senior.”

Governor Ambode also used the occasion to restate the commitment of his administration to revamp the educational system in Lagos, saying that it will go a long way to shape the future of the next generation.

n pursuance of its oversight functions and in a bid to foster transparency and combat corruption as being exhibited by the change mantra of President Muhammadu Buhari administration, the Senate CommiĴee on Customs, led by its chairman, Sen. Adamu Aliero stormed the Seme Command of the Nigeria Customs Service (NCS) on an oĜcial tour to inspect and probe some contracts embarked upon by the immediate past administration of Dikko , many of which remained abandoned.

Newswatch Times’ ęndings at Seme revealed that projects under probe include Customs Staě quarters, Staě school, new administrative blocks, Hospital amongst others at a cost running into billions of naira.

According to investigation

by Newswatch Times, the Senate CommiĴee members were also accompanied by under - cover EFCC oĜcials who were also on a mission to probe the veracity of some of the activities of former Customs boss, Alh. Dikko Abdullahi Inde who is now on the wanted list of the federal government.

The commiĴee and EFCC visit was shrouded in secrecy and the PRO’s oĜce of Seme Customs Command declined Newswatch Times request to give further details of the visit, purpose and outcome..

However, the Command’s PRO, Mr. Selchang Taupyen, Seme told Newswatch Times correspondent minutes after the entourage departed that the commiĴee was set up by the presidency and so their inspection and observation would be channelled to the appropriate quarters.

When Newswatch Times probed further, the CPRO maintained that Seme Customs Command were just on ground to facilitate the process of their command.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

NEWS

Kano Disco re-doubles effort to stabilize power, calls for patience Ted Odogwu Bureau Chief, Kano

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he management of Kano Electricity Distribution C o m p a n y (KEDCO) has appealed to all electricity consumers in its area of authority for patience over the further drop in power generation, with power allocation to Kano Disco, sliding to 84 Mega WaĴs (MW).

As the current generation proęle nose-dived to less than 3, 697 MW against the peak of 5, 074 MW achieved earlier in February, with an average of between 8090 meagre daily energy allocated to Kano, the management of KEDCO has called on all its customers not to panic as concerned authorities in the sector are working assiduously to address the problem.

The company’s Chief Technical OĜcer, Engr David O. Omoloye, according to a statement issued by the company’s spokesperson, Mohammed Kandi, pleaded with his customers and blamed the helpless situation to poor gas supply to generation companies (GenCos) in the country, that supply the DisCos with energy, which is distributed to the end user.

Dr Gwamna, who explained that the DisCos

are stranded in the face of the current scanty power allocation, requested all power consumers in Nigeria, including the organised labour and members of the media to help disseminate accurate information, so as to create positive understanding of the power sector value chain.

According to KEDCO MD/CEO, “Last week, Kano DisCo only received an average of 140 MW daily, which is inconsistent when

compared to the recent development in our daily allocation.

This week, the situation degenerated leaving KEDCO with no option than to drop load, as directed by the National Control Centre (NCC) to stabilise the system, leading to load rationing.

The KEDCO boss added: “Because we always wanted to be on the same page with all our customers, we will not hesitate to make them understand how the power

sector now works under the new system.”

“The distribution company is the interface between the customer and the value chain because we distribute the energy generated by the GenCos to end users at the factories, households, business outęt, schools etc.”

“The role performed by the GenCos is to generate electric power from other sources of primary energy, such as gas, hydro, coal, solar, wind, etc, while the

transmission company of Nigeria (TCN) channels the energy generated by the various generation plants to the distribution companies,” Dr Gwamna said.

However, he assured that the distribution companies are working tirelessly to beat the recent electricity generation historic record, which hit an all-time high of 5,075MW, to meet the country’s power needs and achieve customer satisfactions at all times.

L-R: President, Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), Dr. Abdul Alimi Bello; representative of Governor of Kaduna State, Alhaji Bashir Shehu; Minister of State, Trade and Investment, Hajiya Aisha Abubakar; Vice President, Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture, Alhaji Ahmed Rabiu and Vice President, KADCCIMA, Hajiya Amuheeba Dankaka, At The Opening Ceremony of 37th Kaduna International Trade Fair in Kaduna State…yesterday.

Kano halts automatic allocation of Hajj seats for aged, says official Ted Odogwu Bureau Chief, Kano

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enceforth, all prospective pilgrims from Kano state must undergo screening before

Court restrains mother, six children from selling late husband’s property

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Bisi Adedayo, Ilorin n Ilorin High Court has restrained Mrs. Alice Obajemu and six of her children from selling her late husband’s petrol station until the determination of the motion on notice before the court.

Justice MaĴhew Adewara gave the order while ruling on an Ex-parte Application brought by Mr. Deji Gbadeyan on behalf of Samuel Obajemu, son of late John Olorunleke Obajemu.

Adewara said in his ruling that having gone through the motion ex-parte and the aĜdavit, he was satisęed that there was merit in the application ęled by the Claimant, Samuel Obajemu.

He, therefore, ordered that the Defendants or their agents should stop meddling, dealing with or taking possession through self help the petrol station situated on Taiwo Road, Ilorin pending the hearing of the already ęled motion on notice for interlocutory injunction.

The jurist also gave an order maintaining status quo ‘ante bellum’ that is the prevailing situation in which the Claimant was in possession and in control of the petrol station before the ęling of the action.

being allocated Hajj seat.

Spokesman of the State Pilgrims Welfare Board, Alhaji Badamasi Nuhu, who made the disclosure in Kano, explained that the decision to introduce the new policy was borne out of the determination to ensure that the aged and those with health challenges were identięed and given special treatment.

He pointed out that all

the aged, including those with heath challenges, who could not perform the Hajj without being assisted, must be accompanied by their relations.

“Any intending pilgrim, who cannot withstand the rigours of the Hajj, due to old age or health challenges must henceforth be accompanied by his or her relation”, he said.

He explained that the

decision to introduce the new measure was taken after a stakeholders’ conference held in the state recently.

“The stakeholders’ conference was aĴended by doctors, nurses and Islamic scholars.

“It was resolved that old persons and those with health challenges must be accompanied by their Relations or forfeit the seats

“, Nuhu said.

According to him, the state government is determined to ensure eěective implementation of the new policy in order to ensure the success of subsequent Hajj exercise.

“The decision is not meant to prevent such people from performing Hajj but is aimed at alleviating their suěerings while in the Holy land”, he said.

We have created 125,000 direct jobs in Kaduna –El-Rufai

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Baba Negedu, Kaduna aduna State G o v e r n o r , Malam Nasir ElRufai, yesterday disclosed that his administration has created over 125,000 direct jobs less than one year in oĜce.

The Governor also revealed that, Dangote and Olam are already in advanced discussions with his administration on integrated tomato agroindustrial projects around Galma Dam, adding that, the development will increase the job creation drive of the state Government Addressing stakeholders, supporters of the All Progressives Congress, (APC) and citizens of the state during his 6th town hall meeting in Saminaka, headquarters of Lere local government area, El-Rufai said the state school feeding programme alone created at least 85,000 jobs, including the vendors, their staě and supervisors.

He said, Olam company has also decided to build the largest poultry and feedmill facility in Sub- Saharan Africa in the state, with the ground breaking ceremony expected in April this year.

His words, “The Job Impact of our ongoing interventions is over 125,000 direct jobs in Kaduna State within less than one year of the APC being in oĜce. The estimates of these include: “School feeding programme: at least 85,000 jobs, including the vendors, their staě and supervisors.

School uniforms:11,100 jobs, rehabilitation of Schools:7,542 jobs, construction of toilets: 6,285 jobs, solar boreholes:5,028

jobs, KASTELEA:2,550 jobs, Waste collection:6,700 jobs, Science and Maths Teachers: 2,300 jobs”.

The Governor said, “Stallion group is to build a 10,000-hectare rice farm and mill in Southern Kaduna to reduce our dependence on imported rice. Other rice farm and mill projects are being implemented by many ęrms to utilize our zerointerest loans around the CBN Rice Anchor Lending

Programme”.

Flanked by the Senator representing Kaduna North Senatorial District, Suleiman Hunkuyi and other top government functionaries, El-Rufai said operations against caĴlerustlers, kidnappers and other criminal elements are continuing in the aěected areas in the state.

“Our security agencies have beĴer vehicles and improved communication

Sulu-Gambari prays for successful 2017 census

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Bisi Adedayo, Ilorin.

he chairman of the Kwara State council of chiefs and Emir of llorin, Alhaji lbrahim Sulu-Gambari has pledged the support of traditional rulers in the state for the success of the forthcoming 2017 population census in the State.

The monarch made the pledge weekend in his palace in llorin, the State capital while receiving in audience the management staě of the National Population Commission (NPC) in the State led by NPC Federal

Commissioner in the State, Alhaji Abubakar Ndakene.

Newswatch Times on Sunday gathered that the NPC management was in The palace to intimate the Emir about the commencement of the area demarcation for 2017 census in the State.

Sulu-Gambari who maintained that accurate and reliable census are parts of indices of development, assured that he will mobilize all traditional chiefs in the State for the success of the exercise.

The royal father advised residents of the State to cooperate with

the commission in its eěort to produce accurate and reliable census in the State.

Earlier, the NPC Federal Commissioner in the State, Alhaji Abubakar Ndakene said they were in the palace for royal blessing in the conduct Of accurate census in the State.

He said the commission has put necessary machinery in place for the successful conduct of 2017 census.

It was further learnt that the area of demarcation for 2017 census in the state was Isin local government area of the State.

North Singer market inferno: Federal law makers visit kano

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ano state Government has expressed appreciation to the House of Representatives for sharing in the moments of grief of the people of the state, especially the traders at Singer Market, who suěered losses, worth billions of Naira at the recent ęre outbreak at Singer market.

Governor Abdullahi Umar Ganduje solicited the assistance when a delegation from the House of Representatives, led by the Chief Whip, Alasan Ado Doguwa paid a sympathy visit to the state government.

The Governor disclosed to the delegation that the state government is collaborating with the Federal Government to assist the victims, pointing out that already, a Commission of Inquiry under a former High Court Judge, Justice Wada Rano, has been constituted to assess the extent of the damage and ęnd out what is responsible for rampant ęre outbreaks in markets across the state.

Ganduje described the ęre outbreak at Singer market as an unfortunate incident, lamenting that despite the eěort of the state Fire Service and other industrial ęre ęghters, the extent of damage was massive.

He stated that it has been conęrmed that there was no loss of lives as a result of the ęre, expressing the hope that the Federal Government, through its emergency relief agency NEMA, would do its best to alleviate the plight of the victims.

Kano govt assures to adopt sustainable measures to end incessant fire outbreak at markets

Ted Odogwu Bureau Chief, Kano ano State Government has expressed its readiness to adopt adequate and sustainable measures to put an end to recurring market ęre disasters in the commercial city.

The State Governor, Dr Abdullahi Umar Ganduje unfolded the agenda when a 20-man delegation from the House of Representatives paid him a sympathy over the recent ęre outbreak at the popular Singer market in the metropolis.

Ganduje disclosed that the State Government had already constituted a Judiciary Inquiry CommiĴee to establish what is behind the incessant ęre outbreak at Singer market, so as to proěer an enduring solution to prevent a reoccurrence in future. ‘’It is unfortunate that ęre incident engulfed some parts of the Singer market.

We were not only but taken by surprise. We have visited the scene of the ęre outbreak, which caused a massive destruction, despite the timely intervention the State Fire Service ęghters from diěerent locations within the state, including other Fire Services within the State.’’

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

274 deaths:Buhari seeks Saudi’s conclusion of investigation into Muna stampede

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Taiye Agbaje, Abuja r e s i d e n t Muhammadu Buhari has called on the Saudi Arabia authority to conclude all issues with the National Hajj Commission (NAHCON), especially the undetermined outcome of its investigation into the stampede at Muna last year, where the Federal Government oĜcials put the ęgure of Nigerians who lost their lives at 274.

President Buhari, who requested the Saudi Arabian government to compensate 35 others from the stampede whose DNA proęle is feared to be missing, also made case for compensation for six Nigerians killed in the crane incident in the precincts of the Kaaba.

The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, made the statement available, Saturday night, in Abuja. “President Buhari, among other things, requested the Saudis to conclude all issues with the Nigerian Hajj Commission, such as the undetermined outcome of their investigation into the stampede at Muna last year, where our oĜcials believe that 274 Nigerian lives were lost. “There is also the case of compensation for six Nigerians killed in the crane incident in the precincts of the Kaaba and 35 others from the stampede whose

...Wants compensation for 6 Nigerians killed in crane incident DNA proęle is feared to be missing,� the statement said.

It said the requests followed the acceptance by the Saudi government to freely and openly discuss outstanding issues with Nigeria.

Following the completion of talks with rulers of the Saudi Arabian Kingdom,

President Buhari, however, directed the Ministry of Foreign Aěairs and the NAHCON to sit down with the Saudis to negotiate improved terms and conditions for Nigerian pilgrims performing the Umrah and the annual Hajj.

The President equally charged the Ministry and

the NAHCON to seek a reduction of fees associated with the Umrah Visa.

Among the 17 issues tendered at the initial meeting between the oĜcials of both countries, according to the statement, Nigeria appreciated the increase oěered for Umrah pilgrimage but asked that

the 76,000 seats maintained for the Hajj be similarly increased.

The meeting was led

by Nigeria’s Minister of State, Mrs Fatima Abba Ibrahim, and the Chairman of NAHCON, Abdullahi Muhammed, on the Nigerian side while the Saudi side led by their Minister of Hajj Aěairs, Dr Bandar bin Muhammad al-Hajjar.

L-R: Permanent Secretary, Lagos State Ministry of Local Government & Community Affairs (MLG&CA), Mr. Jafar Sanuth; representative of Lagos State Governor/Commissioner, MLG&CA, Hon. Muslim Olohuntele Folami; Newly installed Aholu of Ajido, Oba Adamson Saheed Sedonu and Special Adviser to the Governor on the Environment, Mr. Babatunde Hunpe, during WKH LQVWDOODWLRQ FHUHPRQ\ SUHVHQWDWLRQ RI VWDII RI RI¿FH WR +LV 5R\DO +LJKQHVV 2ED $GDPVRQ DV $KROX RI $MLGR DW %DGDJU\ Lagos‌yesterday.

Photo: Abiodun Omotosho

Saraki denies spending N329m on official car purchase

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Taiye Odewale, Abuja he Senate President, Bukola Saraki , has reacted to a report by an online medium alleging that he spent over N329million to replace vehicles on its oÄœcial Äšeet as part of the N4.7billion budgeted by the Senate for car purchase this year.

The online medium ( Premium Times), had reported yesterday that Saraki has taken delivery of new exotic cars totaling 10, purchased by the National Assembly management for his oÄœcial use, brushing aside widespread criticisms against such lavish spending at a time of national economic crisis.

According to the medium, the current market survey showed that the vehicles cost N329, 515,625 – more than the budgetary allocations for many government schools.

But Saraki in s statement issued by his Special Adviser on Media, Yusuph Olaniyonu, it was only his oÄœcial car inherited from former Senate

...Says one, not Fleet of Vehicles replaced

President, David Mark, that was replaced and no any other one .

Olaniyonu in the statement said it was wrong for Premium Times to classify vehicles provided for security agencies like the police and State Security Service by the National Assembly management for their operations as vehicles bought for the Senate President.

The statement reads: “It is an obvious fact that the oĜcial and spare cars that the Senate President inherited and has been using are old and have been malfunctioning. There are instances like the day Dr. Saraki visited KeĜ for the marriage of the daughter of Senator Abdullahi Adamu and another day at the Presidential wing of the Nnamdi Azikiwe International Airport that the

spare vehicle broke down.

In both instances, the spare vehicle did not return home with the convoy. “The same vehicle had malfunctioned at the Presidential Villa and National Mosque on diěerent occasions.

It is for this reason that the Senate President approved that instead of providing two vehicles for him as he is entitled, only one should be bought to replace the oÄœcial vehicle while the old oÄœcial

car should be converted to spare car. “Also, if the National Assembly Management chose to provide operational vehicles for Security Agencies, should that be presented as if they are personal or oĜcial vehicles meant for the use of Dr. Saraki? These are vehicles that cannot be used for other purposes and by other people.

The Senate President also have no control over the security vehicles.

Bukola Bakare

released. There has been mass demonstration for their release.

According to an Ogoni chief, Karibi Kina, four of the detained people have reportedly died in police custody.

The Movement for the Emancipation of Ogoni People has been embroiled in long-drawn baÄ´le with degradation caused by oil pollution and land-grabbing by the government, which

had claimed many lives and led to many Ogoni living in exile.

The government had promised to ensure that Ogoni land was cleaned up in line with international court judgment, compelling Shell Petroleum to comply.

According to an Ogoni youth leader in exile, Dayo Yereba, “We would not relent in our resolve to ensure that our environment is habitable through ceaseless agitation.

“The Ogoni people have been tortured and lived like second- class citizens in our country, contrary to the United Nations declaration of Universal Human Rights.

The youth would continue to resist inhuman treatment of Ogoni people by the government.�

media guarantees societal well being, stressing that for their eěorts; some Nigerians’ self-serving ploys would have undermined the nation’s democracy. ``Through their resoluteness, dogged determination and relentless barrage, such evil conceits were up-ended with our democracy the beĴer for it,’’ he noted.

The chairman, however, urged the media to rally round the federal government in the ęght against corruption and tackling economic crisis.

Okiro said that the event was a unique way of celebrating high achievers and projects a sublime innovation. ``Such have the propensity to push more Nigerians to add the needed impetus in their work, knowing that the society through the media would one

day recognize and applied their worthy and selĚess deeds. ``To me, I can only thank the Almighty God and my beloved country for oěering such great opportunities to play a part in the art of nation building. ``But there is so much that we ought to put in place in order to enable all Nigerians to develop to their full potentials and optimally contribute to societal growth,’’ he said.

Okiro expressed the commitment of PSC under his watch to addressing the noted challenges of the Force, stressing that they have recorded huge success so far.

Dignitaries present include the I-G, Solomon Arase, AIG Zone 2, Bala Hassan, Commissioner of police in Lagos, Oyo and Mrs. Comfort Obi, a member of the PSC

Ogoni Youths vow to resist oppression

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he crisis between the Ogoni and Federal Government may have heightened as their counterpart in the SouthEast step up agitation against the government.

The government has arrested more than 57 Ogoni that came back from exile and the Ogoni community insists that they must be

Police recruitment to commence in March –Okiro

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Folake Sokoya he Chairman of Police Service Commission (PSC), Mr. Mike Okiro, said the recruitment of 10,000 policemen into the Force would commence in March.

Okiro disclosed this on Friday night in Lagos during the Achiever’s Award held in his honour by the New Telegraph Newspapers.

He, however, did not mention the date and places the recruitment would start; stressing that lack of fund to implement the project had delayed the exercise.

Okiro, who was the 13th indigenous Inspector-General of Police (I-G), noted that the current number of police oÄœcers were inadequate to the Nigeria population.

President Muhammadu

Buhari, on August 17, 2015 had announced plans by the federal government to recruit 10,000 new police oÄœcers.

Okiro said while he was an I-G, about 15,646 men and women were recruited into the police, stressing that 4,443 oÄœcers and men were promoted same period.

He said he recruited 82 aircraft engineers and more than 20 pilots, while about 1,142 disciplinary maÄ´ers against oÄœcers and men were treated by his administration.

The chairman said he received about 1,117 petitions against oÄœcers and men during his period.

He commended the eěorts of the media in Nigeria, noting that their contribution would not go unmentioned in the history of the country.

Okiro said the role of the

NEWS ICAN support Buhari’s fight against corruption, seek more effort in revamping economy

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Gyang Bere, Jos he Institute of Chartered Accountants of Nigeria (ICAN) has expressed strong support to the anti-corruption crusade of President Muhammadu Buhari and urged him to bring in new initiatives towards mitigating the economic quack mare the country is passing through.

Jos District Chairman of ICAN, Mr. Pam Yakubu Gyang made the called in Jos in an interview with Journalists during a Programme organised by the National body of ICAN in collaboration with Jos Chapter for secondary schools students tag “catch them young� held at Crest Hostel Jos. He said the programme seek to expose Nigerian students who wish to acquire requisite skills in accounting profession to enable them practice across the globe and encouraged Nigerians to patronise locally made products as a panacea towards revamping the economy.

According to him “what is happening in the country today is aĴributed to our leaders. Accountants have always give fantastic ideas on a way to move the economy of the country forward but the implementation has always been a problem, politics is always overriding it but we are happy that we have a listening government. “President Buhari came up with three policies, to ęght corruption, to tackle insecurity, and to improve the economy of the country.

The Government has tried in ęghting corruption and insecurity, more eěorts need to be put in the economic sector, this is because we refused to diversify the economy long before now, what we ought to have done 20 years ago is what we are trying to do today.

PUBLIC NOTICE/ CHRIST INSPIRATION ASSEMBLY The general public is hereby notified that the above-mentioned Church has applied to the Corporate Affairs Commission, Abuja, for registration under Part ‘C’ of the Companies and Allied Matters Act. Cap 1 of 1990.

THE TRUSTEES ARE: 1. Deacon Olanrewaju Olugbenga Oyetade 2. Sis. Adanna Nancy Oyetade 3. Reverend Temitope Oluyomi Popoola 4. Bro. Kehinde Kolade Agbele AIMS AND OBJECTIVES t5P QSFBDI UIF (PTQFM PG +FTVT $ISJTU BOE UIF 8PSE PG (PE UP QFPQMF within and outside Nigeria. t 5P QSPWJEF TZTUFNBUJD TUVEZ JO UIF #JCMF UP UIPTF XIP EFTJSF UP CF GFE UIF 8PSE PG (PE t5P BDU XJUI DIBSJUBCMF DPODFSOT GPS BOE UP IFMQ BMM QFPQMF JO OFFE PG any help which the Church can give, regardless of race, social position or religious affiliation. t5P TFSWF BT B DIBOOFM PG JOTQJSBUJPO UISPVHI XIJDI UIF CSFBEUI PG (PE JT SFMFBTFE VOUP NBO Any objection to this registration should be forwarded to the RegJTUSBS (FOFSBM $PSQPSBUF "ÄŒBJST $PNNJTTJPO 8VTF ;POF "CVKB within 28 days of this publication.

4*(/&% Yetunde Martins Ground Floor World Oil Plaza, Isheri-OPIC, Lagos

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

NEWS

Foreign News France: Painkiller trial left one dead, four with brain damage

A

Syrian war torn zone.

Syria says capital shelled in cease-fire breach

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yria’s state-run news agency says armed groups have fired several shells on residential areas in the capital in the first breach of a cease-fire.

SANA says the shells were fired Saturday by “terrorist groups” entrenched in Jobar and Douma, both opposition-held suburbs of Damascus. It was the first time the Syrian government has accused rebel groups breaching the cease-fire agreement.

The fragile ceasefire went into effect at midnight but scattered violence and clashes continue.

Opposition groups

say they have recorded numerous violations by government forces across the country.

A Syrian rebel commander says his fighters have registered numerous government cease-fire violations and warns they could lead to the collapse of the agreement.

Lt. Col. Fares alBayoush, commander of the 1,300-strong Fursan al-Haq Brigade, a U.S.backed rebel faction, tells The Associated Press that his group and others affiliated with the mainstream Free Syrian Army are so far abiding by the truce.

He says continued government breaches

however will force rebel factions to retaliate.

He adds however that the cease-fire brokered by the U.S. and Russia which went into effect at midnight has sharply reduced government attacks across northern Syria where his group is based.

A top military official says Russia has grounded its warplanes in Syria to help secure a cease-fire brokered by Moscow and Washington.

“The Russian Federation has completely stopped attacks in the ‘green zone’, that is to say those areas and armed units that have sent to us requests for cease-

Kevin Humphreys, a Labour lawmaker ęghting to retain his seat in Dublin Bay South, says his left-wing party has “had a very bad day ... but we’ll rebuild and come back.”

The ęrst oĜcial winners are expected to be declared Saturday afternoon.

A detailed exit poll for Ireland’s election has found that most voters spurned the coalition government of Prime Minister Enda Kenny and the country faces either a hung parliament with no workable majority “ or an alliance between the traditional polar opposites of political life.

The poll by Irish broadcasters RTE was

revealed hours ahead of Saturday’s start to a ballot count expected to run into Sunday.

The poll says Kenny’s Fine Gael party has received 24.8 percent of ęrst-preference votes “ much lower than any opinion poll during Ireland’s three-week election campaign “ while the party’s ageold enemy Fianna Fail has won 21.1 percent.

The poll found that Sinn Fein received 16 percent of ęrst-preference votes, suĜcient to double its number of lawmakers “ but not enough to give either Fine Gael or Fianna Fail a majority, even if either cut a deal with the Irish Republican Armylinked party.

Ireland govt coalition faces loss of majority

W

ith oĜcial I r i s h election results yet to trickle in, leaders of the governing Fine Gael and Labour parties say Ireland’s voters have demonstrated that they want a change in government, with 60 percent or more of voters picking an array of other parties, mostly on the left of the political spectrum.

Analysts poring over results compiled by election observers predict that Fine Gael will win fewer than 50 seats and Labour probably fewer than 10 in Ireland’s 158-member parliament. A governing majority requires at least 79 lawmakers.

fire,” Maj. Gen. Sergei Rudskoy said Saturday at a briefing in Moscow.

He said 17 opposition units have contacted the Russian military to adhere to the truce that became effective at midnight Friday.

Members of the Islamic State group have stormed a northern border town that was captured months ago by Kurdish fighters, according to a Syrian rebel official.

Talal Sillo, a spokesman for the predominantly Kurdish Syria Democratic Forces, said Saturday that the IS fighters have attacked the town of Tal Abyad.

The fighting began after midnight Friday and

was still ongoing, Sillo said. Tal Abyad that has been held by Kurdish fighters since July.

The Britain-based Syrian Observatory for Human Rights also confirmed the fighting in Tal Abyad.

The Aamaq news agency, which is affiliated with the extremist group, reported that IS fighters launched a “surprise attack” on several areas in northern Raqqa province, where Tal Abyad is located. But the report did not provide further details.

Sillo told The Associated Press that SDF fighters “will finish the operation today.”

German World Cup scandal claims latest scalp

G

erman football federation (DFB) general secretary Helmut Sandrock, who helped organise the scandal-hit 2006 World Cup, has resigned, the DFB announced on Friday.

The move comes on the day a law ęrm charged with investigating Germany’s bid for the 2006 World Cup was due to deliver its report, and hours ahead of FIFA’s vote for a new president.

Sandrock’s departure follows three months on from the resignation of Wolfgang Niersbach over an unexplained6.7 million euros ($7 mil-

lion) transfer to football’s world governing body FIFA in 2000, just days before Germany won the right to host the 2006 ęnals.

“Helmut Sandrock’s decision can’t have been easy,” said acting DFB president Rainer Koch.

“His name will forever remain connected with the 2014 World Cup win,” insisted Radmann, who was himself the deputy president of the organising committee for the 2006 ęnals.

Sandrock had been in his job since 2012 and had been due at FIFA’s presidential election in Zurich, but was instead absent due to sickness.

painkiller that left one person dead and four others with suspected brain damage in a clinical trial in France had already killed several dogs in a previous test, according to French media.

Sources told French newspaper Le Figaro that a pre-clinical trial of the drug had left ‘a number’ of dogs dead and others with neurological damage.

This information was deemed of ‘considerable importance’ by Daniele Piomelli, professor of neurobiology and pharmacology at the University of California, Irvine.

‘That could have been a real warning signal,’ he told Le Figaro. The volunteers, 108 in total, took part in a trial run by private laboratory Biotrial, to test a new pain and mood disorder medication for Portuguese pharmaceutical company Bial in January.

Ninety of them were given varying doses of the drug while the rest took a placebo.

The six men who were taken to the hospital who were aged between 28 and 49 and were healthy when the trial began - were in the group given the highest dose.

One was declared brain dead and four others were taken to hospital where neurological specialists discovered they had suěered ‘unusual’ lesions to the ‘base of the cranium’.

The other 84 volunteers exposed to the drug, which has no known antidote, had been contacted by the hospital.

Of those, 10 came in to be examined but didn’t have the ‘anomalies’ seen in the hospitalised patients.

It was the ęrst time the drug had been tested on humans, in what is known as a Phase 1 trial to test the drug’s safety.

Both Bial and Biotrial have been cleared of wrongdoing in a preliminary report by state prosecutors.

They were also cleared by the French drug safety agency, Agence Nationale de Sécurité du Médicament (ANSM).

The ANSM director Dominique Martin told Le Figaro that while the agency had complied with the investigations, ‘industrial property’ issues have prevented it from divulging certain information.

It is unclear how many dogs died after the test.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

OPINION Newswatch Times www.mydailynewswatchng.com

OUR VISION To support Nigeria’s quest for justice through

-Tradition built on truth

intellectual approach

Published by Newswatch Times Ltd. (RC 1220646)

OUR MISSION

BARRISTER JIMOH IBRAHIM, CFR - PUBLISHER

DEMOLA ABIMBOYE DELE FASHOMI PATRICK ASONYE OLANREWAJU OYETADE MIKAIL MUMUNI AKIN ORIMOLADE SONI EHI ASUELIMEN OLUKAYODE OGUNJOBI

U

nfortunately, anyone reading Palladium of Sunday, 21st February, 2016 in the nation newspaper would be hard put to agree with its assessment of Kogi State. That particularly lengthy write up left no one doubting it was a hatchet-job gone wrong.

Idowu may have been ‘forming’ that he didn’t write the article, and was only expanding the frontiers of free comment and journalism by ceding his column to ‘an ardent reader who feels distraught‌’ about alleged events in Kogi State. Yet, like a drunkard reeking of alcohol and caked all over in his own vomit while making inebriated denials of drunkenness, Idowu’s biases were in shameful display right from his introductory paragraph. In essence, he rode his hypocritical high horse into a mud-pit straight oÄ› the gate.

Anyone with passable comprehension of the English language will immediately see what an active advocate of the halftruths and uĴer fabrications purveyed by the ultimately faceless ‘Joseph M. Adeola’ Mr. Akinlotan was. And that is why we hold him, not his possible nom de plume, responsible for the defamatory features of that article. For the records and because the Yahaya Bello Administration in Kogi State swears by an Open Government and puts much store on the free Ěow of (factual) information to citizens, we oěer here a brief rejoinder. It is intended to set the records straight for any reader of Mr. Akinlotan’s column who, reading last Sunday’s Palladium (and despite his decisive posture to the contrary) still wonder with the rest of us if there was, perhaps, another side to the story. To such fair-minded people, we make the assurance that there is.

Idowu Akinlotan is categorical that the ‘youthful Governor‌ is upending common sense in the State...’First, one does not fail to notice how he spits out ‘youthful’ here like it is a bad thing, especially when paired with ‘Governor’. That is understandable, not everyone believes there is any use for the young in Nigerian politics except, of course, as thugs. The

ACTING MANAGING DIRECTOR/CEO EDITOR, DAILY EDITOR, SATURDAY EDITOR, SUNDAY EDITOR, NATION’S CAPITAL EDITOR, NORTHERN OPERATIONS EDITORIAL PAGE EDITOR HEAD, GRAPHICS

To fight for justice using intellectual approach, balanced, indepth reporting; providing a veritable platform for Africa’s growth, deploying our God-given talent and resources through enduring commitment and loyalty that will justify public confidence

ÂŽÄ´ÂŽÂ›ÂœČąÂ?Â˜Â›ČąÂ™ÂžÂ‹Â•Â’ÂŒÂŠÂ?Â’Â˜Â—ČąÂœÂ‘Â˜ÂžÂ•Â?ȹ‹ŽȹŽ–Š’•ŽÂ?ČąÂ?˜ editorial@mynewswatchtimesng.com and addressed to the Editor, Newswatch Times, 159/161, Broad Street, Lagos Tel: 0709 850 4488, 0709 882 1624

Re: Kogi’s many absurdities

moment one of them dares to be governor, all hell breaks loose.

Second, wisdom is a bag, each man carries his own. The vast majority of Kogi people believe diěerent from Mr. Akinlotan when it comes to the import and impact of their young governor even as his ęrst month in Lugard House starts to wind up.

While it is early days yet, the prevailing mood among relieved Kogites wherever the governor and his team has gone is, ‘ęnally, at last, common sense has come to Kogi State.’ The average Kogi person just wants his Government to do right by him, the exact thing the governor is keen, and very ready, to do.

This includes enclaves where the usual suspects predicted mass discontent after Governor Bello emerged Governor-Elect.

Idowu Akinlotan is also certain the novel electoral and legal events proceeding Governor Bello’s swearing-in as Governor of Kogi State are ‘a farce orchestrated by the ruling APC and INEC.’ We are not surprised. It is a common argument that runs through the spool of naysayers whose personal designs on the jugular of Kogi politics has been thwarted by providence. We will let APC and INEC answer for themselves, if they wish, but it is our opinion that neither Idowu, in his introductory statements, nor yet the amorphous Joseph A. Adeolain the article proper, interrogates their own narrative in its core aspects. They merely endorse the false conclusions that the Judiciary has been wrong so far in her interventions in the maĴer.

They also evince a desperate need to set an agenda that sees their preferred outcomes and candidate’s manifest, irrespective of the law, and whatever betides.

As for Governor Bello, despite the blatant subversions that denied him his Party’s Ticket at the APC Primaries even after the Primaries Appeals CommiĴee had ruled in his favour his stance was made clear in his Inaugural Address

and it has not changed. ‘God and good‌’ said he, ‘are on our side‌’ We trust that when the dust seÄ´les, he will be standing strong, buoyed up by God, and all that is good – including the leÄ´ers and intendments of Nigerian law. We therefore suggest that the Courts and Tribunals be allowed to make their determinations free of the pernicious second-guessing with which Palladium and her proprietors seek to undermine their credibility. We too want to see how a person who does not qualify ab initio to be on the ballot to contest a councillorship anywhere in Kogi State can post facto becomes a valid beneÄ™ciary of the OÄœce of the Governor from an inconclusive election.

In the time-tested tradition of seasoned muckrakers when they run out of ideas, Idowu and his dubious double could not resist hurling puerile personal insults at their quarry.

Governor Yahaya Bello had a hearty laugh at being described as lacking ‘the experience, maturity, insight, shrewdness and astuteness required to govern a state like Kogi or any state for that maÄ´er‌’by people who may have managed nothing bigger than a salaried oÄœce table all their lives.

Apparently, the fact that he has built up a multi-billion Naira growth enterprise with scores of employees and managed it to proętability does not count. It must be that thing his current detractors ęnd so galling - his youthfulness.

It did hurt His Excellency, a jolly good fellow if ever there was one, a bit to be described as â€˜â€Śnaturally self-conceited and not reÄšective ’but only because a journalist expected to know the imperatives of research before publication. A liÄ´le digging would have unearthed a wealth of information to belie that slur. For goodness’ sake, a journalist writing in person or endorsing another’s writing still has a duty to his profession, a duty to ensure that truth defends justice, always. Oh well, it must be

the times. Next, they quarrelled with Governor Bello’s decision to aĴend a meeting of the Northern Governors’ Forum in Abuja within a few hours of his swearing-in. This does not even merit a response. Clearly, they preferred Governors of the past, and the former ‘Owambe’ approach to governance. These ‘critics’ actually want a governor who will prioritize dancing and partying away the time to one who chooses to focus on the job of improving his state’s fortunes, even if it means‘abandoning’ the people at his own Inauguration party to travel nearly two hours by road in order to do the only job for which he was elected, i.e., representing his state, her peoples and their interests.

Truly, you cannot please everyone. Fresh from its failed aĴempt to embarrass Governor Bello on account of his unwavering focus on his duties, the article Ěies into a rant against several decisions of the new governor aimed at kick-starting the process of reforming the Kogi State Civil Service. It alleged the Ěedgling Administration’s aĴempt to screen the state’s workforce for ghost workers was antiworkers’ welfare. Obviously, despite working at a newspaper,

Bello

Idowu has not heard about the successes both the Federal and those State Governments which have undertaken the same exercise have recorded in reducing their monthly wage bills. It also does not maÄ´er to Palladium that a successful screening will free up much needed funds to pay the actual workers as and at when due.

Security vote, that vexatious item of expenditure, was up next on their shopping list of calumnies. Unfortunately, in accusing the governor of ęrst taking his security vote before thinking of workers’ salaries, the host-writer and his ghost-writer failed again to remember, or more likely, fraudulently chose to suppress, the widely acclaimed news within the last week that Governor Bello has forgone his security vote and donated the money back to the state’s coěers to meet other, more pressing, needs. And guess what? Just within the last 48 hours or so, the Federal Government followed suit, cancelling security votes across board for a wide spectrum of former recipients. If Governor Bello set a bad precedent, well, President Buhari just endorsed it.

NEWSWATCH TIMES POLITICS NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

My people yearn for my service ––Victor Umeh

INSIDE

Edo 2016: I understand how govt works –IzeIyamu, guber aspirant pg.14

Sheriff, big fish in big pond pg. 12

Why Mark won Benue South rerun election

pg. 13

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POLITICS

My people yearn for my Former National Chairman of The All Progressives Grand Alliance (APGA), Chief Victor Umeh, is the senatorial candidate in the Anambra Central senatorial election re-run election holding on March 5, 2016.

He spoke with reporters on the forthcoming election recently. He revealed what he intends to do, if elected senator. He spoke on other issues. ALPHONSUS EZE was there. Excerpts:

Y

ou have few days to the re run election, how is the campaign so far?

We all know that the elections are just weeks away, and the experience has just been good. I am fully prepared for the election. My party is ready for the election, and I have been going round to talk to people, visiting people, even in their private homes and reaching out to major stakeholders. I am talking to people of various groups as wells as maintaining communications line with the voters of Anambra Central Senatorial Zone. I have also been on radio and television programmes. I have Ohamadike hour on Odenigbo FM that runs every Wednesday, I have Ohamadike hour on Silverbird Radio, I have been to blaze FM, ABS, everywhere dishing out to the electorates the relevant issues and making them to get convinced and make up their minds to continue supporting me. Of course, you are aware that this is not entirely a brand new election.

We have campaigned very vigorously in 2015 before the March 28 general election which was later annulled by the Court of Appeal. One thing that pleases me now is that any place I go, the places I have gone to and even the places we will go to tomorrow, the people have made up their minds that I am the candidate they want at this time to go and represent them. So, I ęnd it very easy talking to them because even before I say anything, they take it over and start reeling my achievements and antecedents that make them properly convinced that at this time, they need my services as a Senator. In summary, I will say that the level of enthusiasm on the part of the electorates of Anambra Central Senatorial District is quite high.

This can be seen in how the people are yearning for me. One Saturday, my

phone was ringing repeatedly from one particular number, I did not know the owner of that number, so I did not pick it, after persistent calls, I took it, and a woman identięed herself as Amaka Ubaka and told me that they were at Methodist Church Amaenyi Awka praying for me for this election, and that they need my physical presence and that they will end around 3pm, and I took the call at about 1pm. So I immediately promised her I will be there, and when I got there, I saw so many women of the Methodist Church fold, and as soon as I came in there they started singing, thanking God for me. And this is a church I have not had anything to do with, and they prayed for me specially and said they have been following me through my radio and television programmes, reading me in the newspapers and of course known what I have done in this state since the past 16 years or thereabout. They decided that I am the man, and so were praying for God to see me through so that I can help them.

So on their own they called me, but for someone who is being sought after the way they are searching for me, it makes my job heavier because disappointment can never be an option in my representation for Anambra Central zon. So, I am happy to be seeing such emotions for me here and there, and that is because they believe in what I can do for them. So, I am just waiting for the day to come and let this elections be over so that I can seĴle down to work for them.

You seem to be the major candidate of this coming election, do you see it as ȱ Ĵ ȱ ȱ ȱ ȱ ¢ȱ ȱ¢ ǵ In politics, if you are not humble, you can overshoot your range. But I will like to say without being immodest, that we were all part of this election in 2015,

What I insisted on is not allowing illegitimate candidates who are not supposed to be in the election. You go into the election with them and you expose the election to further risk of QXOOLÀFDWLRQ

Umeh

including the two others from PDP and APC, and I clearly won the election, even the ones that will not be in the election that are now making noise, I defeated them in that election last year. I won that election, I got 86,000 recorded for me in the result sheet, and PDP were all over the place using Amoured Personnel Carriers, tanks, INEC and security agencies and got 93,000 that was what was recorded for them. 93,000 to 86,000, it was like David having 86,000 and the big Goliath who was everywhere was beaten. So, you can see that the result of that election shows that I won. APC got 24,000 with their super candidate, Dr Chris Ngige.

Coming to the 12 candidates that are in the race now, no one can take anyone’s ęght and ęght for him or her, and most of them have been calling me that they want to work for me, they support me.

They are candidates of other parties, but they believe in what I can do. I have also heard that those who are disgruntled have been ganging up to support even the least of the candidates to see how they can make me lose, but I don’t see how they can achieve that.

I am conędent that the election, when the votes are counted, I will win. Apart from my acceptability to the electorates, the APGA government in Anambra State are doing exceedingly well. I do not judge the success of a government, based on what armchair critics say, as a member of APGA, and someone who has been in the leadership of APGA for over 13years now, and someone

who has been championing APGA programmes, I can tell you that the government of APGA now is doing very well for the people of the state. So the achievements are being recorded.

So, the governor being from my party will also act as a boost to me in my election. The governor has traditional critics who don’t like him, those who do not believe as far as they are not the ones that are in charge. I can say that Willie Obiano has surpassed my own expectations in less than two years. The level of projects being executed in the state and particularly in Awka capital territory and elsewhere will show you that this government is a very serious government, and the governor is thinking about how to make Anambra State a good state. Security; he has tackled that immediately he came in.

People thought it was going to be a Ěash which will stop after one month and criminality will start. Anambra has been very peaceful, no kidnapping, no armed robbery and all that. So, I don’t see how people will want a party that is doing all this to go down; what will be the alternative? We have everything going for us in this election, I have been here for a long time, and I have been a part of the success story, and two , the government I also midwife into being in place here is also doing very well, all these things combined will give us unassailable victory. Even If PDP and APC are contesting the election with their strong candidates, we would have defeated them. What I insisted on is

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

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POLITICS

y ser vice –Victor Umeh not allowing illegitimate candidates who are not supposed to be in the election. You go into the election with them and you expose the election to further risk of nullięcation. That is the essence, otherwise we are not afraid of a political party, APGA is a prominent political party and we know we have the structure.

It was expected that the Court of Appeal judgment would ordinarily have declared you the winner of that election. So, how do you feel going through this election again?

Well, I am still grateful to the Court of Appeal because if you remember, the tribunal made a joke of our petition at the tribunal, but the Court of Appeal decided to go deeper into the petition and decided to nullify the election and said that the PDP did not hold any primary to select their candidates and that was what put forward this arrangement of conducting another election. For me, it’s very painful, but I have to bear the pain. So, half a loaf of bread is beĴer than none. That they were able to nullify the election and oěer us a second chance is good enough. We will go through it, and there is no cost that I will bear in pursuing justice that I will consider too high. If I had considered that charade of 2015 to stand, the psychology of people of Anambra Central Senatorial District would have been so greatly tortured. They were traumatized with the way PDP militrialised that election and many people were badly beaten up and result sheets were carried away and they said is this the way to run a society? If they had gone away with that victory, it would have destroyed the interest of people in elections. For the fact that we were able to get this back, you can see the happiness on the faces of people that they stole this thing and they could not get away with it, and they have another day, and we are ready for the election to pay them back in their own bad coin.So, for me, I ought to have been declared winner because there was no need for a repeat of this election. But for the wisdom of the judges of the Court of Appeal that the nullięcation should suĜce, I accept it. Good enough, it is just about 19 days away, and the extra cost of going for this repeat election should be borne by lovers of genuine democracy.

You made a point that you were not opposed to Buhari being the president, can you use this opportunity to tell us those things that are dear to you that when you get to the senate you will work with?

Yes, I said it clearly that I was not averse to Buhari becoming president as a person, but we decided to vote the way we voted because of what our party considered very critical to the survival of Nigeria as a nation, and that critical thing was the promise made by Jonathan to implement the report of the national conference, which he put together in the ęrst place. The report of that National Conference remains a key to the survival of this country as a nation. Anyone who wishes it away is postponing the dooms day. This country cannot continue to be run in an atmosphere of tension, where there are too many grievances from various parts of the nations. Good leadership requires

uld be put on a pedestal that a nation should velopment and peace. of sustainable development ria is conęgured and That way, Nigeria structured, if not tension will continue nd. There are too many to pervade this land. people who have been cheated; the real people of Nigeriaa have been cheated. I am known to be championing hampioning this cause all the time, the structural imbalance st the Igbo people of is skewed against Nigeria because of the war. But it will not last forever. So outside the confab est eěorts Nigeria has reports, the boldest made towards preserving its desired unity was in a dialogue arrangement where there will be give and take for all parts of Nigeria. The Igbo people were ional state, increasing given one additional their number off state to six, because we presently have ęve. Thee ut issues about nt local government o were also addressed. Locall ds government funds can no longer be shared to the 774 local oney governments, money will be shared to hey the state and they will now… you can cal create 2,000 local governments if you like. Thesee were the things we agreed to at the National conference. Wee at also saw, that h who becomes the president of Nigeria was a major action in Nigeria anytime we are going to have an election, everybody wants his own person, or tribes man to become the president of Nigeria, so we said instead of killing ourselves over who becomes the president of Ngeria, let us have an arrangement where every part of Nigeria will have hope that one day they will have hope that they will ascend the presidency of this country, and it was agreed that the presidency should rotate between the north and south and across the geo political zones, and with that type of arrangement, it won’t take time and presidency will reach to places where it had not goĴen.

Since about 50 years, no Igbo man has been president of Nigeria, a very strong ethnic group in Nigeria, intellectually with business acumen, industry, hard work, everything you are looking for, you will ęnd it in an Igbo man.

Exceptional wisdom, knowledge, you can locate it in an Igbo man, but Igbo man cannot be president of Nigeria.

When I get to the senate, we want a Nigeria where there will be equal rights and opportunity for all people of Nigeria, not just for the Igbo people. We will make eěorts to close the gap created against the Igbo people. We want equity and fairness. We can easily achieve that through legislation. Every aspect of Nigerian life, you can use legislation to put things in proper perspective, and it will work for everybody. So, if I go to the senate, I will pay my primary responsibility to Anambra Central Senatorial District, and I will get everything they are entitled to as a federal constituency in Nigeria in any form, be it infrastructural development,

Umeh

be it youth empowerment programmes, be it women empowerment programmes, be it education, anything that is being done at the centre for federal constituencies, that of Anambra Central will come home complete and none will be found wanting. I will be alert to my responsibility. On a second stanza, I will contribute to nation building. I want to be a part of any group in the senate or the national assembly for that maĴer that will be championing for a beĴer Nigeria, a Nigeria that every citizen will be proud of. In the senate, there are too many progressives from all parts of Nigeria.

So, the issue of people thinking that the status quo will always remain; even those who think they have the advantage today are aware that it will not be forever. Or, if these pressure and agitations keep building in the land, people will be forced to let go some of the things they are holding so that there will be peace in the land. At the senate, I know there are people from

the north, who are progressive- minded and will want Nigeria to move forward.

Nigeria of today is not like the Nigeria of 50, 60 years ago. Even in the north, education have changed things, people have gone to other climes, and have seen how things are done, particularly in the area of civic rights; such people are in the senate now. Let’s work for a great country called Nigeria and people will begin to de-emphasize their ethnic origin, their religious bias and others.

There are people who are now thinking about making Nigeria a great country, and these are people I am going to walk my way around, so that we start thinking of a country that everybody will be proud of. There is no need going to America, you go there and you see how the people live in peace. America is a multi ethnic society, there are people from all corners of the world in America. You have Jews, Spaniards, Caucasians all in America, and their code is equal rights.

All these people don’t even think of their country of origin, they work for the common good of America.

So, this is the type of country I dream that Nigeria should be. Last month, I was in England to aĴend the graduation of my daughter at the University of Warwick where she ęnished her master’s degree.

I got there and where we were directed to sit I saw Nigerians there, and one Alhaji Bashir from the North also came with his family members for his daughter that was graduating too. We sat there and we forgot that I am Igbo and Bashir and his contingent were Hausa. I wore my long red cap, and as soon as I came in, all of them got up and were hailing me. Alhaji Bashir, an inĚuential northerner was pleased to see me, he started asking me about my election and we were all happy and we were like one family, and when our daughters were called out to receive their certięcates, we were hailing each other, but as soon as we landed in Abuja, everybody will remember that I am from Kaduna and I am from here or there. So,we must try to remove such things from our national life.

Yes, I said it clearly that I was not averse to Buhari becoming President as a person, but we decided to vote the way we voted because of what our party considered very critical to the survival of Nigeria as a nation

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POLITICS

Sheriff, big fish in big pond M

Duro Adeseko

odu Ali Sheriě is a big name in Nigerian politics. Since the commencement of the fourth Republic, he has been in the forefront of leading Nigerian politicians making news and seĴing the pace. Apart from serving as two term governor of Borno State, he was also a senator who was returned after his eight years service as governor.

Elective oĜces aside, Sheriě was the Chairman, Board of Trustee (BoT) of the All Nigerian Peoples Party (ANPP). He led his party as BoT chairman to team up with others to form the All Progressives Congress (APC). When leading members of the APC at the time complained that Sheriě was not active enough at the formative stage of the party because he was not usually physically present as leader of his party when there were important meetings, he demonstrated his commitment to the formation of the new party by single-handedly ęnancing the registration of the party. As it is today, the history of the formation of the ruling APC will not be complete without reference to Modu Ali Sheriě.

But that is not all that made Sheriě a big ęsh in Nigerian politics. The dreaded Boko Haram reared its head during his reign as governor of Borno State. Leader of Boko Haram, Mohammed Yusuf was killed through extra judicial means and his followers went wide. As governor of the state that became headquarter of the dreaded sect, the role of Sheriě is as controversial as it is debatable.

According to his own account, the sect was eěectively checkmated when he was in power in Borno State. Consequently, the sect targeted him and members of his family for aĴack. Indeed, some members of his extended family were killed. His usual logical poser is: how could he be godfather to the insurgents and they will target him and members of his family for aĴack?

Unfortunately, his political opponents would not let go. They swore that the formation of the sect started in his siĴing room. They insist that he ęnanced and protected the insurgents. uestions were asked on how the insurgents came about sophisticated weapons which at a stage was superior to that at the disposal of Nigerian army.

The argument went forth and back on the role of Sheriě in the spread of Boko Haram that is today the concern of the international community. So far, there is no hard evidence to link Sheriě with the activities of the insurgents. All over the world, suspects are innocent until pronounced guilty by a competent court of law. Consequently, in the eye of the law, Sheriě is as clean as a whistle. That partly explains why some leaders of the opposition PDP want him to lead the party.

What informed the decision of the PDP governors and legislators to champion the cause of Sheriě? The whole world knows that the party that ruled the nation for 16 uninterrupted years is in a mess. On principle and, perhaps, for the purpose of personal ambition, some personalities want the party to remain strong. For the party to remain a force to reckon with in Nigerian politics there is need for people of certain political and ęnancial strength to be saddled with the running of the party.

This is where Sheriě comes in.

A usually dependable political ęgure who has national appeal from the South

Secondus

ě ě

Fani-Kayode West told this reporter last week that ęndings by party leaders show that the name Modu Ali Sheriě sends jiĴers down the spine of the leaders of the ruling APC. This is because they know what he could do to turn the party around in no distant future. Wealthy, inĚuential within and outside Nigeria, intelligent, educated and, above all, a towering political ęgure in the northeast, Sheriě is regarded as the right man with the needed experience to turn

the party around.

The party chief said: “Nigerians should not forget that this man decided to leave the APC because of personal disagreement with some individuals who wanted to dominate others in the party. In case you forget, he felt insulted that a personality like Bola Ahmed Tinubu could tell him to go and join any other political party if he pleases. In fairness to Sheriě, he felt he was a founding father of APC like any other national leader of the party. Let us just say that he left the party he co founded in anger- justięed anger.

“Cast your mind back to the trouble the party had during registration when no fewer than two other parties claimed the same acronym with APC. Sheriě saw to it that the party was registered. Go and ask those leading the party today to state their role in the process leading to the registration of the party,” he said.

Those who want him to lead the party felt he is about the most capable out of those puĴing themselves forward from the northeast. Those insisting they should lead the party from the zone don’t in reality have what it takes to lead the party. Sheriě is regarded by governors and legislators as a man party members from all classes would respect.

The BoT that raised objection on his emergence had to pipe down when the chips were down. For now, all agreed that

So far, hard as it may sound there is no hard evidence to link Sheriff with the activities of the insurgents. All over the world, suspects are innocent until pronounced guilty by a competent court of law. Consequently, in the eye of the law, Sheriff is as clean as a whistle. That partly explains why some leaders of the opposition PDP want him to lead the party

he should lead the party until it holds its convention in May this year.

While addressing stakeholders on the emergence of Sheriě, the National Publicity Secretary, Chief Olisa Metuh, said Sheriě, was now the substantive national chairman of the party and that allegations of Sheriě’s links to Boko Haram have never been proven. According to him, his selection was ratięed by the National Executive CommiĴee (NEC) of the party at its meeting.

Sheriě, who took over from Mr. Uche Seconduce, the acting chairman stated clearly that: “The task ahead of us is very challenging, the task is to rebuild this party; carrying everybody along and make sure that PDP secures victory in 2019. I know that some people have expressed some feelings, which are allowed in any democracy, but I want to assure everybody that for the choice you made today, nobody will regret it. PDP will win come 2019.”

Sheriě pleaded with those who may have opposed his emergence to give him a chance and to join hands with him to rebuild the party to regain its lost glory. According to him, he would carry everybody along and would not harbour any ill-feelings.

“PDP is a party that has structures across the country, it is a party that is focused, all we need to do is to join hands together to achieve success. It is not the task of Sheriě alone, we will pilot this party to success in 2019,” he added.

But personalities such as Chief Femi Fani-Kayode had reservation on his emergence as chairman of the party. He said: “I do not often speak publicly about the internal aěairs of the PDP because I have always chosen to remain well above the fray. This is because I have good friends in every single group and on all sides that constitute the party. However, given today’s events, there appears to be deep cause for concern. It is clear to me that more than at any other time in almost 17 years of its existence, the PDP needs serious prayers.”

He, however, said that it would not be proper for any member of the party to threaten to pull out of the party as a result of the decision on the new chairman, which he admiĴed was a product of wide consultations.

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POLITICS

Why Mark won Benue South rerun election Godwin Akor, Makurdi

D

espite the heavy mobilization of members of the All Progressives Congress ( APC) in the Benue South Senatorial District and the determination of government oĜcials in support of the party’s senatorial candidate, Comrade Daniel Onje, in last Saturday’s rerun election, the Idoma speaking people of Benue State voted for the Peoples Democratic Party (PDP) and its candidate, Senator David Mark. Ther party is today regarded as the opposition partyn inthe country.

The impression created outside Idoma land was that Mark had stayed at the senate for 16 years without impacting on the people and so, Onje should replace him. Left to the Idoma people however, Onje would have given Mark a close mark in the rerun election but the negative impression appeared to have angered them as they said they were matured enough to decide whether Mark had overstayed at the Senate or not.

Those that campaigned against Mark did not know that as proud people, the Idoma would inform their sons and daughters within Nigeria and in Diaspora that those outside Idoma land were trying to beat drums of war by dictating the paĴern of voting in the rerun election.

This issue made egg heads and conscious politicians in the area to return home to give direction to the electorate during the election on Saturday, February 20.

One other issue that made Mark to win the election was that those helped by Mark over the years saw the aĴempt to impose a candidate on them as a slap on their integrity. So, they carried out door to door campaign for David Alechenu Bonaventure Mark.

This set of people stood like the rock of Gibraltar to ensure that Mark won the election.

The second issue that made Mark to defeat Onje in the rerun election was that some parts of Idoma land were used to blackmail Mark and Idoma people. To this group of people, Mark did nothing for them in 16 years. They forgot that some of those that Mark assisted from their area was a man who was chairman of two federal boards and that the man’s children are presently working in the federal civil service. Unfortunately, this group of Idoma people who voted against Mark, instructed some of their sons to defect to the APC when the rerun election was drawing nearer because the present administration has favoured them with appointments. But their defection made no impact.

They behaved as if they had not been favoured by the past administrations of the PDP. This section of Idoma has beneęted from Mark’s Scholarship Scheme and the Open University Scheme.

The boĴom line of the ęght between Mark and Onje in the rerun election was politics which some people say is a maĴer of interest. Some of the political bigwigs who did not vote for Mark said they would not allow their people

Mark to be in opposition party,not knowing that the election was beyond political party consideration Some days to the election, some people were singing songs of war.

They forgot that in Idoma land, to spill blood is a taboo. To think of killing and the act of killing carry the same oěence against the ancestors that the paramount ruler, the Och’Idoma represents and communicate with from time to time. The issue here is that once the Och’Idoma expresses shock over the death of any of his subjects at war or in politics, the chiefs around him must plead with him not to call the name of any of the Och’Idomas that reigned before him. When the paramount ruler sheds tears over a sudden death in times of political crisis, or any other time, trouble is ahead for those that perpetrated the evil.

Those that directly or indirectly planned to give weapons to young ones to spill blood and supervise killing or commit other crimes during the rerun election gave Mark victory in the rerun election because the living and the dead rosé in his support As the election was drawing nearer, the indefatigable politician, Comrade Abba Moro, emerged as David Mark’s campaign director general. Within the government, great thinkers should have known that since those that defected to the APC in the eve of the election were doing window dressing, Moro’s political prowess was going to overshadow their inĚuences. In fact, history has shown that once the Idoma have taken a decision, anyone who goes against that decision would eventually be dwarfed.

In fact, this is not the ęrst time Idoma people have taken such a decision. In the

Ortom past years, they took similar decisions about Mark and nobody could go against it. The countermove embarked upon during the rerun election failed more than past countermoves because outsiders were involved. Their move against Mark was based on sentiments.

They put words in the mouths of the Idoma, claiming that Mark had spent too long a period at the Senate. They forgt that Mark was a Senate President for eight years and that, his leadership brought about political stability in Nigeria, especially, with the doctrine of necessity which he introduced when late Umar Musa Yaradua became very sick and eventually died.

Naturally, no one would blame Daniel Onje for going into the rerun election because he has not studied the Idoma enough. Also, he did not know much about Idoma culture and tradition. Moreover, those that encouraged him to become very serious about the contest were out to destroy the cherished culture and tradition of the Idoma which says young ones should not ęght elders.

Any Idoma who says the opposite is the case is not of Idoma origin.

Onje cannot be said to be so overzealous because he went into the rerun election with Mark. He went into the contest because the pronouncement of the Appeal Court and the urge from non-Idomas who wanted Mark to be disgraced out of the Senate because they fought so hard for the revered position of Senate President and failed.

The feeling is that the disgrace Onje gave to Mark at the Appeal Court launched him either positively or negatively into the political arena but that if he, Onje, decides to drag Mark to the election petition tribunal again,

Those that he helped over the years considered the attempt to impose a candidate on them as a slap on their integrity. So, they carried out door-to-door campaign for David Alechenu Bonaventure Mark. This set of people stood like the Rock of Gibraltar to ensure that Mark won the election

Onje a diěerent meaning may be read to his action even by those that did not like Mark.

Why has Young Alhaji who was so angry with Mark become his friend and supporter today? Why must it be Orokam people that would ęght Mark to a ęnish when they are known to be promoters of peace and respecters of culture and tradition? The Orokam, Otukpo and Ugboju are known for unique practices of Idoma culture and tradition and they celebrate their ancestors through Alekwu’Aęa.

Where they deviate, the results that follow are usually not good.

Since the administration of Governor Samuel Rtom has been preaching peace and reconciliation and has gone ahead to launch an amnesty programme for those with illegally acquired weapons to surrender them, one wishes to suggest that he should order a ceaseęre between Onje and Mark.

One would on good authority, reveal to the governor that because violence rented the air in the Benue South Senatorial District during the rerun election, he should not allow Onje to go to court again because apart from the problem that would arise again between him and Mark, the bad blood that was generated between Mark and the Deputy Governor, Engr.; Benson Abounu, who are all from Otukpo was unwarranted. If the governor has tirelessly worked towards restoring peace between herders and farmers in Benue State , then, restoring peace among political gladiators should be a small thing.

This is the ęrst time in the history of the Idoma that there was violence during that election. Brothers rose against brothers, young ones rose against the elderly. The result of all these is hatred, envy and malice which could cause the downfall of a nation like Idoma who have liĴle or no chances of becoming the governor of Benue State because they are in the minority.

Governor Ortom should listen to the voice of reason and restore peace between Onje and Mark because when two elephants ęght, it is the grass that suěers. The peace that would be made

by Governor Ortom would help many of his policies to record success because he would have time to concentrate on development activities instead of ordering security agencies to arrest, when another war begins between Onje and Mark.

14

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

INTERVIEW Edo 2016: I understand how govt works –Ize-Iyamu, guber aspirant Pastor Osagie Ize-Iyamu is a very senior politician in Edo State. Up till date, he has remained the most prominent chieftain behind successive former governors from Lucky Igbinedion to Adams Oshiomhole. Now, Pastor Ize-Iyamu wants to to take the crown for himself. He is gearing up for the governorship election scheduled to hold later this year.

He spoke with journalists on reasons why he thinks he is most qualified for the job. THANKGOD IVERE-IJOMAH captured it in Benin. Excerpts:

D

o you believe you stand a chance of picking PDP ticket?

I’m not the only aspirant. At the last count, we were ęve. I think all the aspirants are all qualięed.

I will be willing and ready to support anyone that gets the ticket. I also hope that other aspirants will support me if I get the ticket as well. I have gone round the local government areas to see our party members and I can say that many of them see me as a very serious minded person, who knows what it takes to win and has an understanding of government.

I want to belief that that conędence and knowledge will help me clinch the party’s ticket. uite honestly, I’m interested in beĴer governance in our state. If it is not me, then I will support whoever comes in.

But certainly not the person the present government is proposing because nothing will change if they are allowed to continue.

The PDP won the presidential election in Edo State, despite being an opposition.

Can you tell us 0the secret behind your success?

I mentioned that as long as the present governor was campaigning for General Buhari, it was going to be easy for us to win. If he had distanced himself, it could have been a bit more diĜcult. When he made the mistake of saying “a vote for me is a vote for Buhari” that was the end of it. The moment Edo people heard that, they said they must vote against Buhari.

Honestly, Edo people now look up to the PDP. Edo PDP is not rigid to the extent of taking them for granted. When they felt the PDP did not appreciate their votes, they turned against the PDP at a time the whole country was PDP. That is to tell you that Edo is never afraid of being in opposition.

One will have expected that the APC will have a sense of history and respond to the opinion of the people. So, our people are now saying if it is like this, then they need to look at the PDP again, especially now that the PDP has also changed in a positive way. In the governorship election this year, Edo people will turn out en mass to vote for change, only that this change will not beneęt the APC this time around.

But PDP performed woefully in the last general elections. How do you people intend to revive the party?

The mistakes we made at the party level include lack of internal democracy and trying to please certain persons. In that process, impunity became the order of the day and rules were ignored. The party did not also have a serious mechanism in place to monitor and supervise people that were elected under its platform. There should have been well-deęned manifestos like we had during the UPN and NPN days.

There should have been a commiĴee in place in every state and area of control. So, there were gaps and these gaps created problems. When people started leaving

the party, when they felt they were not well accommodated, their genuine cries of marginalization were not addressed.

Nobody made any serious eěort to call them back because they thought there was no opposition. Those were some of the mistakes the PDP made. Because they say history has a way of repeating itself, even the APC that ought to have learnt from the mistakes of the PDP is also toeing the same path. They are even doing it in a more brazen manner. I think the Nigerian public is geĴing more and more enlightened. They are watching the unfolding scenario and every opportunity they have to vote, they will be able to vote with a lot of wisdom and enlightenment. I think it is good for our democracy. ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ its candidates, and you are one of them.

What are your expectations?

As much as possible, we hope that it will be a family aěair devoid of rancour and violence. It will also be an opportunity to show that we practice internal democracy and we follow party guidelines and INEC rules. We want to go about it in a manner that will make the public appreciate the reforms in our party and our desire to be the alternative party in our emerging democracy.

Why are you so keen about becoming a governor?

Sometimes people tend to give the impression that it is a crime to have an ambition and prepare for an oĜce. I think it is desirable that those, who aspire for an oĜce, should not be those who were drafted in, had no plan and were not prepared for the oĜce. It should not be a situation, whereby someone felt he could use them and conscript them into the race. Political oĜces are very challenging.

Anyone aspiring to occupy any political oĜce must show proof that he is prepared for it. I have lived in this state all my life.

Osagie Ize-Iyamu

What people call structure is what I call good will. There is no part of the state, ward or local government that I do not have personal friends. I’m talking about people I could stay in their houses and eat based on long term relationships. So, when people talk about political structure, it does not necessarily mean control of political parties but being able to have credible men and women, who are close to you in all parts of the state. That, to me, is a credit. As for my ambition, I have had the opportunity of serving in government and I know the workings of government more than a lot of people. I also thank God for good education. I cannot see my state being misled and mismanaged and be indiěerent. It is natural and patriotic to have an ambition under such circumstance. When people say that I have held the ambition for a long time, I laugh.

In 2007, they said I had the ambition but it will interest you to know that nobody can point to a single poster that I printed. Yes, I was in the forefront of the Grace Group and we were very visible talking about internal democracy. Common sense told

As for my ambition, I have had the opportunity of serving in government and I know the workings of government more than a lot of people. I also thank God for good education. I cannot see my state being misled and mismanaged and be indifferent. It is natural and patriotic to have an ambition under such circumstance

me that the outgoing governor then came from my senatorial district and there was the need for some form of equilibrium in the political arrangement of the state. I too also was in the forefront of ensuring that someone from another senatorial district became governor. I believe I have paid my dues and my ambition now is propelled by the mismanagement of our commonwealth and the need to redirect the drift in our state.

What do you mean by mismanagement of the state’s commonwealth?

I see the past seven years as years of plenty. In the past seven years, Edo State received unprecedented revenue. This present government has received over a N1 trillion. No government has ever got that. I served in the Lucky Igbinedion government. For the eight years that he was there, if you add all the money that came from the 18 local governments, it was N196 billion. So, for a government that has received over N1 trillion, you will have expected that their investment will guarantee the future of our state. Rather than do that, they embarked on reckless spending as if the good times will never cease. They ęnished what was available and started to borrow. Not only have they wasted the resources of the present, they have mortgaged the future through reckless borrowing. In these past seven years, we have a governor who said I never promised industry. Even if you never promised industry, seeing that the ęnances came, one will have expected that they would have grabbed that opportunity. Indeed, it was an opportunity to create economic legacy and change the perception of Edo State from a civil service state to an industrial state. Ogbemudia laid a solid industrial foundation that was destroyed by the military. The seven years aěorded an opportunity to re-enact that legacy, but we only hear of red roofs that the state contributed between 35 and 40 per cent to roads, whose costs are unknown.

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21

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

Sunday Business

Taxation: Economic tool for growth, diversification plans

Finance minister, Adeosun

Buhari

T

The domestic economy is currently grappling with the fall in the global price of oil, whose proceed constitute about 80 per cent to the mainstay of the economy. However, FRIDAY EKEOBA, in this discourse, explains that, notwithstanding current plans of government to diversify the economy along the line of solid minerals amongst others, there is much need to put in place a taxation regime to galvanise growth and development even in the short-term period

he Nigeria economy state of health really calls for all hands to be on deck, to help it navigate the hard times it has found itself, since the beginning of the depletion in the price of oil in the international market.

All economic activities appears to be at a standstill, with the real sector (small business) being worst hit. The other sectors are not however left out, as it has become complain galore from the Organised Private Sector (OPS), of the poor businesses in the country.

It will be recall that some stakeholders had in recent times become perturbed, with the continued drop in the value of the Naira visa-vis other major currencies in the global market, and the increase in prices of goods and services, and the yet to be passed 2016 budget.

The government no doubt has been working assiduously behind the scene in the last couple of months to try to jump start the economy, but it appears that the economy is bent on taking a negative curve as every move is yet to yield the desired objective.

One of the policies of the new government is to embark on a paradigm shift that we see to the economy not being too much dependent on oil, but to develop other sectors of the economy that has been neglected for year, so as to galvanise them as revenue generating centre to develop the economy in the absence

of oil. One of the sectors being considered is the solid mineral.

The gestation period for the solid mineral sector to start to generate the need fund to grow the economy, just as other economy viable sector will no doubt take time, due to the colossal initiate fund needed to develop the sectors.

The only viable option that will help the government sustain the economy in the immediate time, even as it still builds on the long term project, is for the government to give a face-lift to the issue of taxation.

Building sustainable tax culture

Taxation remains a major national issue in most countries and is often problematic in its imposition, administration and subsequent use. However, this nature contrasts with its obvious beneęts to the society because it is a tool for societal development and also a means by which the rewards of development are redistributed.

On another hand, development remains very topical issue that is discussed in virtually all international and national fora and gatherings.

The question of how to bring it about often aĴracts diěerent answers. An answer for countries rich in natural resources is to use

Exchange rates as at 24/2/2016 Currency

Buying (NGN)

Central (NGN) Selling (NGN)

US DOLLAR

196

196.5

197

POUNDS STERLING

272.2832

272.9778

273.6724

EURO

214.9532

215.5016

216.0499

SWISS FRANC

197.1236

197.6265

198.1293

YEN

1.7534

1.7579

1.7624

CFA

0.3096

0.3196

0.3296

WAUA

271.6645

272.3575

273.0505

YUAN/RENMINBI

29.9759

30.0528

30.1297

RIYAL

52.2458

52.379

52.5123

SDR

271.6364

272.3294

273.0223

MONEY & CAPITAL

To fight fraud, Banks must stop issuing high value currency notes Pg 25

‘ BUSINESS INTERVIEW

wealth from resources to fund development initiatives. The thinking is that revenues from natural resources should translate into a higher standard of living for the people living in these countries. This however, has not been the case for many resource rich countries, which includes Nigeria. They have been plagued by a phenomena referred to as the “resource curse”.

Overtime, the place of taxation in nation building has been described as irreplaceable.

This is evident in most developing countries where they are still struggling to perfect their system. According to economic analyst, taxation remains a strong social-political and economic tool for economic growth and national prosperity.

Building a system According to the chartered institute of taxation of Nigeria, building an eěective and sustainable tax system is a collective eěort that involves the active participation of both the government and the governed. In as much as much is expected of the government in driving the process, there is liĴle that can be achieved without the full support of the citizens who eventually become the taxpayers.

In Nigeria, taxation has never been an issue of interest both to the government and its citizens until recently when revenue from oil began to deplete. According to tax experts, taxation in

Continued on Page 22

xx NEWS BUSINESS

Devaluation not only Nigerian Bourse option to resolve Nigeria’s don’t really react to economic woes infor mation Pg.23 Pg. 24

22

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

BUSINESS COVER

Tax payment: As economic tool for diversification, growth plans

Continued from page 21 Nigeria only became an issue about 10 years ago, meaning for 40 years, no government took cognizance of its importance and place in economic and national planning.

This contributed immensely to the negative tax culture exhibited by Nigerians.

Recently, the Federal Government started a reform process to overhaul the entire Nigerian tax system. This saw the amendment of some tax laws and the development of a national tax policy, meant to act as template mostly for the administration of taxes in the country. While these initiatives and moves have been applauded, there were lots of loopholes that were left unplugged. Apparently, these aěected the overall success of the reform process which is still ongoing.

The question remains what has been the impact of these reforms on the level of revenue generation in terms of responses from the taxpayers? Are Nigerians now disposed to voluntary compliance? The answers to these questions can be easily answered by any astute follower or watcher of development in the Nigeria tax system.

Voluntary compliance and civic responsibility Globally, according to the law establishing tax payment, every citizen, whether individual or corporate, owes the state or government the responsibility/duty of paying his/her taxes as at when due. This, infact is part of what qualięes the citizen as a bonaęde and responsible member of that society.

As some experts would say, your tax payment is your due as a member of that society (state). So, by implication, any member of any society not paying his due has no right to be called a member of that society and thus has no place of reckon in it. If this summation is taken as tenable, then most Nigerians are not ęt to be called one.

Many citizens and corporate organisation have complained that paying taxes is never part of our culture. Some say the government has no right to request for taxes because it has failed in its responsibility as a government to the people. Whether these excuses are tenable or not is a question of morality or what the law says. Why some moralists believe that it is the payment of your taxes that gives you the right to question or demand anything from the government. This explains why in developed economies like United States of America, United Kingdom, Australia and Ireland, any form of recklessness by any government/ public oĜcial is ruthlessly dealt with. In those climes, corruption in the public sector is totally frowned at and punished because the large percentage of resources in use comes from donation and contributions’ from the citizens in form of taxes.

Hence, they are active member of governance. It becomes diĜcult for any individual to embezzle public funds no maĴer how small because they now that when such is detected, the punishment will be grave. The question remains if Nigeria can ever get to this level. According to some analysts, public oĜce holders would begin to call themselves to order when tax payers begin to mobilise themselves ęrst by paying their taxes. This will eventually make them more aggressive in demanding their “rights” and in puĴing their month where their money is.

Importantly, it may not be enough

to say citizens should embrace voluntary compliance. The system must encourage it. a system that frowns at public wastage, theft and corruption must be entrenched. This will go a long way in encouraging voluntary compliance. As someone puts it, “I will put down my money when am sure it will not end up in an individual’s account, when am sure it will be used for the general good of my society where i am a member”.

Responsibility The proliferation of tax payment to Manufacturers are still a source of concern even as they said it has led to the high cost of doing business in the country and could discourage investors if not urgently addressed.

Apart from dissuading investors, manufacturers are saying the burden of multiple taxes is too overwhelming on their businesses.

Manufacturers Association of Nigeria (MAN) branch in Cross River and Akwa Ibom States recently lamented the multiple and indiscriminate taxation imposed on them by government agencies, calling on government to harmonize all taxes and levies to address the situation.

In a communiqué issued at the end of its recent 10th Annual General Meeting (AGM) in Calabar, the association said the incidence of multiple taxation had become a nightmare to manufacturers both in terms of cost of doing business and method of enforcing these ‘inappropriate taxes and levies.’

In the Communiqué the members also lamented that lack of adequate provision of basic infrastructure that support manufacturing such as power has had negative eěect on industrial survival and productivity.

Members of the Cocoa Produce Merchants Association of Nigeria in

Ondo State also raised an alarm over the eěect of multiple taxes on their businesses.

The Chairman of the association, Abiodun Jacob, and the Secretary, Oyelere Adebayo, said the various taxes levied on members of the association has created a great burden for them and the general public.

The association had in a statement said Cocoa merchants in Ondo state are being levied heavily by the state government through its produce department, claiming that they pay nothing less than N500, 000 for the warehouse where they operate and at the same time made to pay another levy on same title in the name of another heading as business premises fees.

The association said the measures by the produce department would aěect the poor farmers and the economy of the state drastically, appealing to the state government to quickly redress the issue.

Also, a group of traders in Awka, Anambra State, recently staged a rally in protest against ‘multiple taxation’ by the Anambra Government agencies.

The traders under the aegis of Zik Avenue Traders Association, carried placards with various inscriptions such as “Double taxation: we pay for business premises, for ASWAMA, for sign boards, for liquor and small scale businesses,” “If our customers cannot park we cannot sell,” and “Gov Obi, save Zik avenue traders.”

The Vice Chairman of the association, Ikechukwu Ndubusi, said what was being charged on their businesses was crippling, while lamenting that in spite of the taxation, there were no amenities provided by government in the market except the rehabilitation of the road that leads to the market.

A lot of manufacturing and other businesses in Nigeria have shutdown production and in some cases have relocated their factories to places which are perceived to be more investmentfriendly,” he added

“We are being charged exorbitantly, our customers cannot park because there are no parking lots provided. We used to pay N1, 000 annually for waste disposal but now, we are being made to pay over N8, 000.

“We have been meeting with the various agencies in charge but there has not been good response so far.

The President of the Hotel Owners Forum Association (HOFA), Onoęok Ekong, said multiple taxes on hotel proprietors by government agencies could cripple Nigeria’s hospitality industry.

He said multiple taxes could force hotel proprietors out of business in the country, if immediate solution was not provided.

“Hotel operators are faced with daunting challenges; apart from losing members of the association through closure and outright change of purpose.

“The lamentations of the existing ones over multiplicity of taxes can only be ignored to the detriment of the economy,” he said.

The taxes, according to the association president, include consumption tax, value added tax, company income tax, withholding tax, health certięcate, and waste operation permit. Others are vehicle emission fee, contravention charges, business premises and administrative charges for environmental audit, which he said had contributed to the increased charges by hotel operators in the country and were aěecting the growth of the industry.

President of the Chartered Institute of Taxation of Nigeria (CITN), Rasaq Adekunle, described these taxes as ‘extortions’, saying that it is most prevalent in the local government councils.

“We are not unaware that a situation exists where virtually all the local governments in the country are charging arbitrary taxes which are not in consonance with the law,” he said. But more worrisome is the manner of enforcement or collection of these multiple taxes, especially where business concerns are shut down without prior notice and rendered helpless over taxes that are not covered by the law.

According to the Managing Director of Saro Lifecare Limited, Mr. Oluwole Adeyegbe, multiple taxation undermines the quest for economic transformation. “The problem of multiple taxation has become so bad that it is actually pushing manufacturers to leave Nigeria and to relocate elsewhere,” Adeyegbe said, adding that: “This problem is pushing organizations

to retrench staě because of the high cost of doing business, and I have to state that it is one factor that is discouraging inter-state commercial businesses.”

Vice Chairman of MAN in-charge of Imo and Abia states, Ndubueze Anyanwu, said the incidence of multiple taxation is reported to be on the increase from year to year.

He said the exact number of taxes and levies collected from enterprises in Nigeria are not clearly deęned as a result of the non-specięcity of the number of taxes chargeable and the continuous introduction of new ones by the various tiers or government.”

He said currently, most businesses in Nigeria perceived the tax environment as unfriendly and a disincentive to businesses, since it increases the cost of doing business in Nigeria.

“In their quest to enforce tax compliance, revenue oĜcials often employ unorthodox methods where they harass business concerns which most often disrupt industrial and economic activities. In some cases, company vehicles conveying products are impounded and are at times damaged in the process.

A lot of manufacturing and other businesses in Nigeria have shutdown production and in some cases have relocated their factories to places which are perceived to be more investment-friendly,” he added.

The Managing Director of International Packaging Industries of Nigeria Plc, Mrs. Essien-Akpan, said taxes should be based on statistical analysis and the ęnancial records of the organization as at the time tax payment notięcation is brought.

She said the tax environment in Nigeria was a clear departure from what obtains in other parts of the globe. “I have no problem paying my tax, because I am a law abiding citizen. The problem I have with government is when they make the tax arbitrary,” she said, lamenting the proliferation of the tax collection process by the local, state and federal governments.

“At every level, taxes are paid on an incremental basis into the coěers of diěerent government or agencies for the same purpose,” she noted, calling for a decentralization process of the tax collection system in order to determine which agency or particular tier of government collects specięc rates and taxes. She also called for quality motivation in the areas of welfare and beĴer remuneration to discourage workers from colluding with organizations for downward review of their respective taxes.

Enforcement/incentives There are some basic tenets of a good tax system. Some of these are equity and fairness which are very vital in any tax system. The element of enforcement is very strategic in tax administration in order to achieve balance, fairness and equity within the system. Where there are no punishments for defaulters or the punishment are not enforced, some citizens will ever remain calm and not bothered to pay their taxes. When this is encouraged, it becomes injustice ęrst to the system and society and to those who are omplying. It is important that every one falls in line. This may not be possible without some elements of enforcement. It is acceptable, legal and justięed. It is infact approved by international standard of taxation. Hence, to reform or build a tax culture that is sustainable, enforcement is a key factor.

23

NEWSWATCH TIMES, SUNDAY, JFEBRUARY 28, 2016

BUSINESS NEWS

Devaluation not only option to resolve Nigeria’s economic woes –expert FRIDAY EKEOBA

M

anaging Director of Cowry Asset Management Limited Johnson Chukwu, has said that not only devaluation; but a cocktail of policies amongst others are some of the alternative options to solving Nigeria’s economic crises.

Chukwu says these include exchange rate adjustment, creating windows of investment for long-term funds through concessioning of commercially viable infrastructure, full deregulation of the downstream petroleum industry and stimulating investment in sectors where Nigeria has comparative advantage, as well as investing heavily in social infrastructure

such as health, education and security.

According to Chukwu, a Ěexible exchange rate is like a silver bullet that can be eěective for both demand management and supply expansion. “When the price of a currency is adjusted to reĚect the earnings capacity, the citizens’ capacity to consume imported goods is automatically reset at a lower level as they can no longer aěord many of the non essential imported items.

Irrespective of the so called inelastic demand of Nigerians for imported goods, once the currency is devalued and their naira income is not adjusted in the same ratio, citizens will reorder their priorities and eliminate items that they can no longer aěord,” he aĜrmed.

Chukwu noted in many instances, citizens will look for

local alternatives to the imported items and shift their patronage to such local substitutes. “The increase in demand for the local substitute will spur increase in production and possible improvement in quality. With improved quality and lower export cost, Traders may consider exporting such improved local products to neighboring African countries and may be from there to Europe, Asia, America and other parts of the World,” he added.

He says for emphasis, we had a proof of concept of this model in the 1980s during the Structural Adjustment Program (SAP) when made in Aba shoes, bags and other leatherwears became export commodities to Ivory Coast, Ghana, Togo, Gabon, Cameron Congo Democratic Republic and others.

On concessioning of infrastructure, he noted the indication of the Federal Government to borrow about $4.5 billion from the international

market to fund the budget deęcit, which is basically going into infrastructure development.

Nigerian authorities had said that they have already started exploratory talks with African Development Bank (AfDB) and World Bank for concessionary budget loans of $3.5 billion.

“While we support these eěorts, we are convinced that the government does not and will not have the ęnancial resources to fund the infrastructure gap in the country,” Chukuwu noted.

Nigeria eyes over $2bn revenue from maritime sector

M

inister of Transport, Rotimi Amaechi has said that the government has set a revenue target of N500 billion (about $2.5bn) from the maritime sector.

Amaechi told the Maritime Summit in Lagos on Monday that the maritime sector was expected to contribute at least 25 percent of the total funding of the national budget next year.

He disclosed that any chief executive oĜcer, who fails to meet his agency’s target, would be removed.

Speaking on the operations of the Nigerian Ports Authority (NPA), Amaechi noted that almost 10 years after the NPA surrendered its cargo handling functions to private terminal operators,”the ports are not looking good”.

He assured that the Federal Government would always respect the provisions of the concession agreement it entered into with the concessionaires, but stated that it would carry out competence and performance audit on each of the terminals to see where they have erred in law and apply sanctions where applicable.

Amaechi announced that the government has also concluded arrangement to conduct performance audit of all the agencies in the maritime sector to determine how much funds they are generating and contributing to the budget.

According to him, the government is determined to move the maritime sector forward and make the nation’s sea ports the hub in the sub-region.

NSE to issue approval for block divestment in amended rulebook

T

he Nigerian Stock Exchange (NSE) said it has proposed to give its approval for block divestments in its amendments to Rule 15.31 on “Block Divestments in Equities” in the Rulebook of the Exchange, 2015 under its Dealing Members’ Rules.

In its notice signed by general counsel/head of regulations, Tinuade Awe, the NSE said the amendments to Rule 15.31 on “Block Divestments in Equities” will set the new thresholds for trades that the Exchange will identify and treat as block divestments.

It also amended Rule 17.13 titled “Prohibition of Market Manipulation and Illegal Market Dealings” which is to be amended further to provide clarity and certainty around the forms of sanctions which the NSE may impose for market manipulation and illegal market dealings.

The Exchange therefore, invited stakeholders to participate in its rule

making process by way of reviewing the draft amendments and providing their comments thereon.

According to the NSE, the participation is important for the following reasons which include creating public awareness and soliciting the public’s feedback on the draft amendments, improving the quality of the Rules and thereby have a robust, well wriĴen set of Rules.

“We are involving as many stakeholders as possible in this rule making process in order to achieve the aforementioned goals. Please be assured that your comments will be considered in arriving at the ęnal text of the Rules,” the NSE added.

The Exchange says that inputs would be received not later than the close of business on Friday March 18, 2016.

It further aĜrmed that the draft Rules are subject to the approval of the National Council of the NSE and the Securities and Exchange Commission (SEC).

L – R: Non-Executive Member, Nigerian Aviation Handling Company (NACHO) Plc, Ms Hadiza Aliko Mohammed; Chief Executive Of¿cer, 7he Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema; Chairman, NACHO Plc, Mallam Suleiman Yahyah and Managing Director CEO, NACHO Plc, Mr. Norbert Bielderman, at the Closing Gong Ceremony at 7he Exchange ...recently

SEC, Judiciary collaborate on Investor Protection

T

he Securities and Exchange Commission (SEC) and the Nigerian Judiciary have pledged to collaborate in a bid to boost investor conędence in the dispute resolution mechanisms available in the Nigerian capital market.

Director General of SEC, Mounir Gwarzo disclosed this at the 2016 Judges Workshop organized in collaboration with the National Judicial Institute (NJI) in Abuja, Wednesday.

He said the excellent collaboration between the Apex regulator of the Capital market and the judiciary is crucial to ensure that the rights of investors are protected.

The Role and Responsibility of the Commission as provided in Section 13 of the ISA 2007 include the powers to register, inspect, investigate, discipline and suspend any market operator. The Act also gives SEC substantial powers to make rules and regulations and also to impose sanctions on and enforce decisions against erring capital market operators, or their sponsored individuals.

“In pursuance of the above mandate, we leverage on stakeholder engagements to share knowledge and information on areas of mutual interest and that is why You cannot downplay the essence of the judiciary especially in terms of investor’s protection.

Investors will be very comfortable to invest if when they invest in the market and they are not able to get what they want they can have recourse to ęnding a way and means that the issue can be resolved.

XXXXX

“And the only way such issue can be resolved is when both the capital market and the judiciary are on the same page. The judiciary needs to understand the workings of the capital market; the capital market needs to understand the workings of the judiciary. This is the essence of the collaboration, for us to understand each other beĴer”.

According to Gwarzo, Capital markets encompass all parts of the ęnancial system where longterm equity or debt securities are bought and sold. By deęnition, such markets are highly specialized and governed by distinct sets of rules and regulations.

The Judiciary’s important work he said, impacts market integrity, investor conędence, market development and market fairness as it is clear that without fair, prompt and eěective dispensation of justice, capital markets can never develop.

Hence in the Commission’s quest to develop a vibrant capital market in Nigeria, it cannot aěord to overlook the central role of the Judiciary.

The DG further disclosed that the Commission has so far paid about 530 investors those that had invested certain amounts of money ranging from N5, 000 to N200, 000 and suěered losses.

The Commission inaugurated its National Investor Protection Fund (NIPF) last November, to provide a window of relief for investors that suěer losses due to defalcations by insolvent or bankrupt capital market operators, which are not dealing members of Securities Exchange or Capital Trade Points.

In his Keynote address, Chief Justice of Nigeria, Justice Mahmud

Mohammed said the workshop could not have come at a beĴer time especially in view of ongoing SEC led capital market reforms aimed at building a world class capital market, coupled with the underlying need to boost investor conędence in the dispute resolution mechanisms available in the Nigerian capital market.

Represented by Justice Ibrahim Tanko Mohammed, the CJN said a resilient and eĜcient dispute resolution mechanism is imperative for a strong and reliable capital market adding that the entrenchment of sound adjudicatory processes must be seen as a precursor to a world class capital market and so, must be accorded priority.

“All over the world, capital markets are principally established to mobilize long-term capital for investment and productive purposes. Capital markets play a very signięcant role in our society because they enhance industrial growth and aid socio-economic development by expediting the rate of capital formation, fostering free enterprise, promoting creativity, advancement and good governance.

“Nigeria relies heavily on huge amounts of medium and long term funds for infrastructure development. The economy also utilizes capital to provide support for entrepreneurship, which in turn promotes growth and creation of opportunities. The Nigerian capital market remains the most important source of these long term funds and has continued to perform its conventional function of mobilizing capital for development purposes” he said.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

BUSINESS INTERVIEW

Nigerian Bourse don’t really react to information –GMD Courteville The Nigerian equities market is currently experiencing a downward trajectory in the prices of listed stocks. In this interview, Group Managing Director, Courteville Business Solutions Plc, Mr. Adebola Akindele, recently, among other issues, said the Nigeria bourse is one that seldom reacts to information, except for the matter of dividend payout. FRIDAY EKEOBA brings excerpt.

Akindele

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hat’s happening to the share price of stocks vis-a-vis Courteville Business Solutions Plc on the Nigerian bourse?

Nothing untoward, nothing diěerent from what the economy has shown, nothing outside what has bedeviled the Exchange in the past two, three years. I have always maintained the fact that the Nigerian bourse is one, I don’t know of many more. It’s one that does not really react to information, other than the fact there would always be proęttakers around. The lack of response to any relevant information stimulus bedevils almost every stock that I know. Outside Forte Oil, how many stocks has recovered to the level of 2008, 2009 and 2010; none, even the best performing stock or the highest buy price stock has been Guaranty Trust Bank Plc and it’s still hovering around at N20 or thereabout, Zenith Bank Plc has refused to just cross that path. It’s not because the results are not good, I’m sure you know that, they have been declaring huge proęts and paying humongous dividends; showing all the reasons people should take almost permanent positions in them.

People in the capital market take proęt because that is all they can do to sustain their businesses. Stock market operators, the stockbroking ęrms as soon as results are announced, if prices go up, proęttaking start happening and it kind of hiĴing back at us. Now the thing for Courteville is that it’s been at 50 kobo per share and remain so because there hasn’t been anything that we haven’t done; not in terms of trying to inĚuence the price; but eěorts at making sure the operators or investment community understand that Courteville is a very strong company and its shares should be with them permanently.

It is the one that is not so available out there, the bulk of the stock is in the hands of not too many people, over 80 percent; but the remaining 20 percent or thereabout is what is Ěoating and that is what is going up and down in the market. The bulk of the 80 percent or so, if we do not sell, it won’t have that kind of impact or free fall; but because we have like 20 percent of people, who wait, it goes up they buy and then they sell, it aěects the price.

Also, we have just refused to throw anything at it beyond the fact that investors need to know what

the stock is all about, we have been proętable for the past seven years and we have paid dividend over this period.

Why are shares in the sector you ȱ ȱ Ĵ ȱ ǵ The CEO of the Nigerian Stock Exchange was on the CNN in Davos, and what he was talking is diěerent from this, it can go up 1.5 percent and thereafter it drops. Thus far, if you take the absolute performance this year, just in 20 days, you will know the market has lost more than a trillion naira in less than three weeks.

You are up today, down tomorrow, it no longer bothers me and that’s my personal opinion, because I have seen Courteville shares go up and I have watched it come down. Now, probably if I have personal funds, I will continue to acquire more; but I already have substantial amount, my colleagues and I. Like I said, the volume of those that are out there is not substantial enough to actually be the determinant of what happens to Courteville stock value. If it goes up nobody is talking Courteville probably because or maybe they don’t know or are looking for the ones that can move up and they take proęt and come down. Now, I would enjoin you to track those same stocks that changed between yesterday and today, track them by next week and see if proęt taking has not taken them down again. That’s what happens and until ęrst of all funds is available, liquidity improves, until the fact that Banks are in a position to be able to fund some capital acquisitions. Until the fact that what is in the pocket of consumers or individuals in the system, until the fact that they can

have capital investment in shares, can actually have a share of the pocket of the people, until States can pay salaries so that people can have savings; until companies can be proętable and then invest in people and give people salaries. Until things improve I cannot imagine what will happen. The fact is this; we know that the Stock Exchange has done a lot, very innovative and robust things over the past few years. Some polices has not also been particularly helpful.

The NSE has showcased courteville severally and I must thank them for that; but policies like this market maker thing that never worked, when last did you see any market maker come in. Is it not the kind of thing that market maker should ęll up? Market maker policy is totally moribund, then they now came up with premium board, they start discussions of actually removing the cap for the pricing of stock to go below par, people lose conędence, they do not know what is going to come up.

With your business expansion across Nigeria, Africa and the Caribbean why are investors not interested in Courteville’s shares? In 3 2015, we learnt that new vehicles about 1 million come in and you do AutoReg, investors know full well that funds are coming and the company is proętable.

You said cars are still coming in and that is wrong, cars are no longer coming as many as the volume that you know, they have materially dropped since the advent of the new government and it’s understandable.

Ports reforms are there since the new man came on board and the fact is that beyond Port reforms, there has been very tight liquidity.

People don’t have money to eat not to talk of buying new cars, is been very tough, Banks are no longer available so much to give out loans to buy cars; it’s diĜcult for those who

The fact is that Banks were no long in such a position to be able to fund expansion or even working capital. Banks

have not earned salaries to go and be borrowing money to buy new cars when they have not feed. Our business should not be mistaken or being tied to the number of cars that come in, it shouldn’t be, what we do is to have vehicle licenses renewed amongst other services. Historically, the volume of vehicles that come in up until 2014 ending, have always been like 20 percent over and above what it was the volume of vehicles in Nigeria, between 15 and 20 percent year-on-year. At least in all the States that we operate for now, new vehicles registration, plate numbers and all that are not part of what we do; but we still want to stick to what we do; because we are the best at that for now. Truth is that throughout last year, there were stories about States not been able to pay, also throughout last year, there were issues surrounding Banks, the Treasury Single Account thing came and rubbished everything that Banks have been able to do.

The fact is that Banks were no long in such a position to be able to fund expansion or even working capital.

Banks are no longer so willing or are no longer so proętable for Banks to deal with small businesses as such.

Combined with the fact that people are not even able to get new cars in, Banks are not there for companies like Courteville to be able to expand and the fact that States that are not paying salaries, you expect them to pay Courteville easily? Cash Ěows even for Courteville have tightened up materially; that’s one. Two, we started this business of AutoReg in 2007, that’s not only what we do, we do a lot more than that; but is the main stay of what we do. Like I said earlier, we started in 2007 and we have done well thank God; but the point is that the level of commission that we are able to charge since 2007 has not changed by one percent; because progressively, it’s been tight for States themselves to even manage with what they get, Federal Allocation and Internally Generated Revenue (IGR) is not enough, so no State is interested in listening to you coming to say that I want to review upward our commission.

On Vehicle owners not receiving SMS reminder on renewal as purported by Courteville after paying N200 SMS fee Do you pay for that particular SMS and where did you do it, did it show on your sticker? The above question is not totally correct, up until 2015, what most people do not know outside Courteville and government in Lagos State at least is that Courteville was not the consultant to Lagos State Government in terms of SMS alerts. What we had was

just a way of helping the State push that programme. The Government was the one charging the N200 SMS alerts fee; it’s when you come for your documents that it’s best to charge it and we enlighten people regularly; but we were not in any position to come out and say we are not the ones except when we engage one- on- one. As a maĴer of fact, we have been threatened with law suits on severally occasions; despite our explanation people will say they don’t care and would sue us.

Meanwhile there was a consultant that was even in the picture way before Courteville started AutoReg in 2007. They have been there since 2005 or thereabout, if you check back into history, what they do then was to collect your number and issue a receipt. We were just working for them on behalf of the State, the N200 was going to them; but on our part, we were geĴing it done beĴer. In order for us to help them collect, what we decided to do was to undertake the reminder part where you got a welcome text and a reminder a month before, then a week before the expiration of your AutoReg document. The truth is that you are right that people actually started complaining that they usually forget; but depended on us for reminder. We were stopped, the contract at that time was being repackaged since last year before the immediate past governor of Lagos State, Babatunde Fashola left oĜce.

Future outlook for Courteville and when would investors start smiling with Naira worth dividend?

I’m always optimistic about myself, Courteville and Nigeria, I think the only thing to pray is that things should boĴom out quickly and then we go back to the good old days.

Nobody is pulling away from the fact that it’s been projected severally within and outside the country by diěerent analysts that emerging economies including Nigeria are going to have a very hard time from last year through this year and it’s hard really, nothing to do with the oil from my opinion; some emerging economies do not have oil and they are still going on. Now the prayer is for us to be able to reap from the beneęts of this current government’s eěorts at tightening loss ends were investible funds are leaking. We are hoping that eěorts in the area of power, transportation, technology and agriculture will come to pass.

Now a lot of things have beclouded us over the past ęve or six years, what I see is that Courteville will always be at the forefront of any revival. We are the ęrst to try exporting technology outside Nigeria.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

MONEY/CAPITAL MARKET

Ecobank explains pioneered Agency Banking in Nigeria Stories by Friday Ekeoba

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an African lender Nigerian unit, Ecobank Nigeria said the decision of the Bank to introduce agency banking in the country is part of the bank’s distribution strategy to take banking service to the door-step of the customers.

Head, Cards and e-Banking, Ecobank Nigeri, Ayotunde Kuponiyi, said in an emailed statement that Ecobank agency banking service the ęrst of its kind to debut in the country is also targeted at oěering aěordable access to ęnancial services, “it would simplify and engender Ěexibility in banking operations,” he added.

According to Kuponiyi, agency banking services is designed to increases the bank’s retail distribution network allowing it provide basic banking services to its customers as well as oěer payment services such as bank transfers, bill payments and airtime top-up to the general public.

“This is part of the bank’s distribution strategy to take banking service to the door-step of the customer. We are extending our banking services to consumers’ neighborhood to oěer even greater convenience and accessible ęnancial

services in a cost eěective and secure manner,” he said.

He maintained that every hand is on the deck to make it a success, urging members of the public to patronise the accredited agents.

It will be recall that Ecobank Nigeria commenced agency banking services recently, enabling its appointed agent partners carry out banking services on its behalf, so as to oěer basic banking services to the underbanked by providing extended hours for available banking services in the customers’ neighborhood.

The listed agent partners already oěering this service in Lagos as Buymore Supermarket chain (in Agungi-Lekki, Kilo Surulere, Ikeja GRA), Kenzo Retail Supermarket chain (in Lekki, Festac and Apapa) and Save-a-Lot Supermarket in Egbeda.

Banking services provided by the agents banking locations include opening Ecobank Quick Account, cash withdrawal and deposit into Ecobank accounts; funds transfers into any bank account in Nigeria, bills payment (utilities, cable subscription, etc), mobile phone airtime top up amongst other services.

IOSCO plays key role in responding to global securities markets’ challenges

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he Board of the International Organisation of Securities Commissions (IOSCO) met for two days in Madrid during the week to discuss and respond to the many ongoing and emerging challenges facing global securities markets.

‘The meeting again underscored IOSCO’s role as the key reference point for global securities regulation, through our work ęrstly in identifying and responding to emerging risks, secondly in assisting our members in building capacity and co-operating to develop, supervise and enforce laws and thirdly acting as an advocate for the collective interest of our members,’ said Board Chairman Greg Medcraft.

On identifying and responding to emerging risks, the meeting was preceded, ęrstly, by Round Tables discussing recent market developments and volatility in world capital markets and, secondly, the challenges and opportunities posed by ęntech and more particularly distributed ledger technology or block chain.

On recent market developments, Board members discussed the implications for global securities markets of slowing economic growth, declining commodity prices, continuing low or negative interest rates and market volatility. Members recognized the need to carefully monitor developments and continue to build resilience to ensure the markets they regulate will continue to be a sustainable source of ęnance to support economic recovery.

The roundtable discussion with leading market analysts on block chain, highlighted the potential new ęnancial technologies can have to improve global market eĜciencies, and provide emerging market jurisdictions with the infrastructure needed to further develop their

capital markets.

The Board discussed and endorsed intensifying work on technological change, with a focus on harnessing the opportunities while mitigating the risks.

The Board, also agreed on further research on ęnancial technology subsectors with particular relevance for securities regulators, including blockchain.

“Supported further work on the use and regulation of automated advice tools in securities markets and understanding the risks arising from the use of cloud technology; discussed a report on IOSCO’s work addressing the challenges of cyber risk and heard updates on the work of the Growth and Emerging Markets CommiĴee on digitization and ęntech.

On capacity building and cooperation, the Board took a number of important steps to assist IOSCO members in both developed and growth and emerging markets.

The Board in its quest to develop the global market approved the framework for a Global Certięcate Program to be run in conjunction with the Program of International Financial Systems at Harvard University and designed specięcally for market regulators; welcomed the completion of an Online Toolkit for Regulatory Capacity Building to be launched in March; progressed work on the enhanced IOSCO Multilateral Memorandum of Understanding on cooperation and the exchange of information, with a view to seeking Presidents’ CommiĴee approval in Lima in May and supported further work on regulator powers to compel witness statements on behalf of a foreign securities regulator and another proposal about regulators taking enforcement action based on sanctions in foreign jurisdictions amongst others.

L-R, Chairman Senate Committee on Capital Market Senator Isiaka Adeleke; Director General, Securities and Exchange Commission Mr Mounir Gwarzo; Administrator, National Judicial Institute, Justice Rosaline Bozimo; Representative, Chief Justice of Nigeria Justice Ibrahim Tanko Muhammad and Former, Chief Justice of Nigeria Justice Dahiru Musdapher during Securities and Exchange Commission Annual Judges Workshop in Abuja on Wednesday.

To fight fraud, Banks must stop issuing high value currency notes –Former Standard Chartered CEO

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he former Chief Executive of British multinational and ęnancial services company Standard Chartered, Peter Sands, has said that central banks must terminate the issuance of high value currency notes to reduce the circulation of fraudulent transactions.

Sands’ new report titled “Making it Harder for the Bad Guys: The Case for Eliminating High Denomination Notes”, published by Harvard Kennedy School, proposes the central bank eliminate high value currency notes to reduce illegal money Ěows, tax evasion and ęnancial fraud.

“Our proposal is to eliminate high denomination, high value currency notes, such as the €500 note, the $100 bill, the CHF1, 000 notes and the £50 note.

Such notes are the preferred payment mechanism of those pursuing illicit activities, given the anonymity and lack of transaction record they oěer, and the relative ease with which they can be transported and moved. By eliminating high denomination, high value notes we would make life harder for those pursuing tax evasion, ęnancial crime, terrorist ęnance and corruption.” , he added.

The report states that illegal money Ěows exceed $2 trillion annually, with the majority of the transactions deriving from the purchases of illicit goods such as drugs and weapons. Sands further emphasise that high value currencies play a minimal role in the functioning of an

economy, yet a signięcant role in the underground economy.

Global Financial Integrity (GFI), which produces high-calibre analyses of illicit ęnancial Ěows and advises developing country governments on eěective policy solutions, estimates that in 2013, illicit ęnancial Ěows from developing countries totalled $1.1 trillion, recording a staggering, 275 percent increase since early 2004.

While GFI and Sands estimate that trillions of U.S. dollars are spent by terrorist groups, corrupt politicians and banks to smuggle cash through borders, they believe that electronic payment mechanisms such as Bitcoin are more eĜciently used to seĴle transactions.

“In the underground economy, the reverse is true.

High denomination notes are the payment instrument of choice for those evading taxes, commiĴing crimes, ęnancing terrorism or giving or receiving bribes. Cash oěers anonymity, leaves no transaction record and is universally accepted. High denomination notes are the form of cash which enable large sums to be paid, moved and stored with minimum cost and detection risk. From the criminals’ perspective, high denomination notes are far more aĴractive than bank transactions, Bitcoin, gold or diamonds.

Every year, the World Bank Group’s Enterprise Surveys conducts an international survey with more than 130,000 ęrms across 135 countries, to evaluate and establish the level

of corruption and bribery involved with governments and federal agencies. According to their newly released corruption data, around 17.2 percent of companies and organizations around the world have experienced at least one bribe payment request in recent years.

Moreover, Enterprise Surveys stated that the around 26.1 percent of the companies were required to bribe government oĜcials or agencies to secure contracts.

Sands explain that the elimination of high value currencies and the implementation of popular electronic payment mechanisms, such as Bitcoin, could signięcantly reduce bribery and government corruption worldwide.

Since some extremely high denomination notes have been eliminated in recent years, such as Canada’s $1,000 notes and Singapore’s $10,000 note, Sands believes that his proposal is reasonable, considering the rising levels of ęnancial fraud and money laundering.

“Electronic payment mechanisms continue to become more available, accepted, Ěexible and cost-eěective. Since most people in most countries already use such alternatives rather than high denomination notes when they make high value payments, they clearly work. Given these technological advances, high denomination notes are no longer required to facilitate the smooth functioning of the legitimate economy.”

LSE confirms in merger talks with Deutsche Boerse

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eutsche Boerse and the London Stock Exchange are taking a fresh run at a merger that would create a large European exchange operator potentially capable of facing down strong competition from the United States and Asia.

The LSE said in a statement it was holding detailed discussions on an all-share merger under a new holding company that would give Deutsche Boerse shareholders a 54.4

percent stake and LSE shareholders 45.6 percent.

The talks, using code names Delta for Deutsche Boerse and Luna for the LSE, are at an early stage, a person familiar with the maĴer told Reuters earlier.

Deutsche Boerse, which had worked on a joint venture called i with the LSE in 2000 before making a full-blown but failed aĴempt to take over its British counterpart in late 2004, was not immediately available

for comment.

Deutsche Boerse Chief Executive Carsten Kengeter, on taking the German exchange operator’s helm in June, said he had an “open mind” on both bolt-on and large acquisitions as part of his strategy to boost growth and revenue.

He has since spent around $1.5 billion buying out equity index joint ventures from Swiĵerland’s Six Group and taking over foreign exchange trading platform 360T.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

MOTORING

FRIDAY EKEOBA bostonremy22@yahoo.com

2017 Subaru Impreza: Hold on for a little longer

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f you are looking l k to get a new vehicle, you might want to wait until the upcoming 2017 Subaru Impreza arrives before you make your decision because the 2017 model is turning out to be one model that will be worth waiting for.

There is still no news on how the upcoming Subaru Impreza

will look like but what we do know is that the vehicle will be based on the Subaru Impreza 5 Door concept that we got to see that the Tokyo Auto Show.

If Subaru does not mess around with it too much and stick close to the concept, we are going to be looking at one gorgeous production model

but since this is Subaru, there is no such thing as a guarantee.

The 2017 Subaru Impreza is expected to come with a 2.0-liter engine although nobody knows what engine it will be. It has been speculated that it could be a Levorg engine.

2016 Maserati Levante SUV to be release soon

2016 Toyota Tacoma powering on ahead

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he Toyota Tacoma is proving to be one tough rival to take down. It felt like the time was up for Tacoma when Chevrolet ęrst brought in the Colorado.

With all the upgrades, the Toyota Tacoma felt old and dated but the new 2016 Toyota Tacoma helped even things out for them.

The new Toyota Tacoma came in with an upgraded powertrain. The base model will still be running on a 2.7 liter four cylinder engine.

The 4.0-liter engine, on the other hand, will be replaced by a new 3.5-liter V6 engine.

Toyota also has the Tacoma a much need exterior upgrade along with a few new features like the new Crawl Control features which are there to help driver crawl their way out of sandpits.

Chevrolet is looking to increase the production rate of the Chevrolet Colorado but even then, the Tacoma will not be an easy opponent to take down.

2016 Chevrolet Camaro puts on its battle gear

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he ęrst sport-utility vehicle from Maserati is coming.

The 2016 Levante SUV is set to debut at the next month’s Geneva Motor Show. The vehicle will be available on Europe in the spring, and the rollout will continue around the world throughout the rest of the year.

Now, here’s the latest round up of news about 2016 Maserati Levante SUV release date, specs, features and price.

OĜcials of Maserati said the Levante will be available with gasoline and diesel engine models. The upcoming SUV will be assembled in Turin, and the company said the ęrst units are already in production. Major details about the car are still kept under wraps, but we found some interesting information.

Autoblog published that 2016

Levante SUV will have an eightspeed automatic transmission and allwheel drive capability. The vehicle is also expected to be great for oě-road performance, partnered with good handling on slippery surfaces.

As for the vehicle’s design, its exteriors will have a prominent grille with the brand’s iconoc trident symbol. Inside, the passengers will be comfortable on seats covered with leather. Plus, a central screen will oěer top-class infotainment system.

As we said earlier, all models will have an 8-speed automatic gearbox as well as electronic suspension coupled with controlled damping and air springs.

Details about Levante’s engines have been conęrmed. Autoexpress reported that the vehicle will come with a pair of twin-turbo V6s and a top-spec V8 petrol model. Its lineup will also have three diesels, ranging

from 247bhp to 345bhp. The same source said that the top of the line Levante 450 can run from 0-62mph in 5.2 seconds and up to 164mph.

Head of Maserati Harald Wester said he expects the 2016 Levante SUV will boost the sales of the company in the next months to come.

During the year 2015, Maserti experienced lower sales compare to ęnancial performance of 2014.

Last year, the company earned 105 million euros (about $117 million), 62 percent down from the previous year. In addition, revenue decreased by 13 percent, and shipments decreased by 11 percent, according to estimates from Detroit News.

The declines were caused by slowdown in China’s auto industry, topped with stricter regulations and increased cost of luxury vehicles transportation.

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he Chevrolet Camaro is more than ready to take on the Ford Mustang and claim back the top position from Ford. Ford manage to climb their way to the top with the release of the new Ford Mustang back in 2014 and they have managed to secure the spot for the rest of 2015 but thing might start changing soon now that Chevrolet Camaro is ready to baĴle.

Unlike the Ford Mustang which came in with a brand new design, the Chevrolet Camaro

upgrade is not as drastic on the outside but still very signięcant.

According to Chevrolet, the new 2016 Chevrolet Camaro exterior was designed in a wind tunnel to improve the aerodynamic of the Chevrolet Camaro.

Under the hood is a 2.0 liter turbocharged engine that will be delivering about 275hp. There is also the 3.6 liter V6 engine as well as the 6.2 liters LT1 V8 engine which will be siĴing under the top of the range Chevrolet Camaro SS.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

10 startup lessons you wonâ&#x20AC;&#x2122;t learn in school

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tâ&#x20AC;&#x2122;s incredibly tough to get accepted to a top business school. But thatâ&#x20AC;&#x2122;s okay, since the best startup school is the School of Hard Knocks, the institution where every applicant gets accepted (and no one ever truly graduates because there are always more lessons to be learned.)

1. Tell everyone about your idea. Entrepreneurs are notoriously paranoid. You may think that talking about your business idea on social networks will result in your competitors stealing your idea, but that wonâ&#x20AC;&#x2122;t happen.

Work on something that isnâ&#x20AC;&#x2122;t easy to replicate and ensure you have the right team to build it. Value is in the execution, not the idea.

2. Ignore advice. The number of people who talk about starting a business far outweighs the number who actually starts a business. Thatâ&#x20AC;&#x2122;s because somewhere along the line they get their high energy optimism knocked out of them by a so-called reality check from well-meaning friends, family and colleagues: â&#x20AC;&#x153;Youâ&#x20AC;&#x2122;re too young/old,â&#x20AC;? â&#x20AC;&#x153;You have no experience,â&#x20AC;? â&#x20AC;&#x153;You have no capitalâ&#x20AC;Śâ&#x20AC;?The truth is no one understands your business or drive beÄ´er than you.

Go with your gut. Trust your instinct and start something.

Youâ&#x20AC;&#x2122;ll soon Ä&#x2122;nd out whether your business is viable.

3. Go with an early launch date. There is nothing that gets a team working beÄ´er or harder than facing an urgent deadline. If you have too long to prepare your product you will Ä&#x2122;nd endless reasons to delay geÄ´ing it out there.

No product is perfect, but every product can be reÄ&#x2122;ned with time and use and feedback.

4. Choose co-founders the way you would choose a spouse. The reality is that you will, at least in the early days, spend far more time with your co-founders than your partner which is probably why such a high number of entrepreneurs end up divorced (hereâ&#x20AC;&#x2122;s to keep that from happening to you.) Ensure you pick co-founders who not only complement your skills, experience, andpersonality but who you will also enjoy spending huge amounts of time with.

A great founding team is the single most important factor in ensuring your business succeeds. It will take all your team has in order to get there.

5. Be annoying. The key ingredient to making any business work is loving it so passionately that it consumes your every breathing moment. You will talk about it all day and dream about making it beÄ´er at night. Nothing else will maÄ´er. Itâ&#x20AC;&#x2122;s that annoyingly determined drive that will get through the tough times, of which there will be plenty.

Chris Barton, co-founder of Shazam, sums it up well when he says, â&#x20AC;&#x153;The number one determinant of

entrepreneurial success is persistence. If you are not prepared to go to super human levels that are beyond rationality to realize your dream, then your chance of Ä&#x2122;nding success is virtually zero.â&#x20AC;?

6. Itâ&#x20AC;&#x2122;s not about the money. Of all the entrepreneurs I have met, not one built their company in order to sell it.

That doesnâ&#x20AC;&#x2122;t mean they didnâ&#x20AC;&#x2122;t sell; selling just wasnâ&#x20AC;&#x2122;t their goal. If your eyes are on the exit you will never Ä&#x2122;nd it.

Build the kind of company where you would be happy to work for many years to come. In the process you will build a team of loyal and passionate team players that will help you achieve success because they will all be on your side, rooting for you.

7. Donâ&#x20AC;&#x2122;t simply hire the smartest kid in the room.

Recruiting is one of the most diÄ&#x153;cult, time consuming and costly parts of running a startup. What you need is a team of entrepreneur-like minds who will work with you to achieve your vision, even if it means working long hours for less pay.

While you might think you need the genius that graduated top of her class, you actually need the kid who has an abnormal amount of drive, is willing to take risks, and has a hunger to help you succeedâ&#x20AC;&#x201C;so they can too.

8. Every employee is replaceable. You need to be able to do the job of every member of staÄ&#x203A;. You should know every aspect of what is required to run your business.

Never be left vulnerable if the Ä&#x2122;nance guy decides to jack it in, or your co-founder has a hissy Ä&#x2122;t and decides to walk out one day.

Start your business by doing every job yourself. Itâ&#x20AC;&#x2122;s the only way to learn what you need and who will then be best able to do it for you.

9. Failure is good. American culture is far beÄ´er at embracing failure compared to Europe, where a business going under is seen as an embarrassment. The fact is that if you try you will sometimes fail. Itâ&#x20AC;&#x2122;s the nature of the beast.

However, if you never try, you will undoubtedly kick yourself when you see your company built by someone else. In order to succeed, you should make mistakesâ&#x20AC;&#x201C; failing is a great way to learn how to succeed.

10. You only get one chance. Most entrepreneurs Ä&#x2122;nd that building a great business takes an extraordinary amount of skill and team eÄ&#x203A;ort, and Ä&#x2122;nding the right ingredients again isnâ&#x20AC;&#x2122;t always possible.

Of course there are some who seem to get it right time and time again, but still, make sure you enjoy the startup journey. Take time out once in a while to smile at the company you built from nothing but an idea.

The idea of coin money

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n the development of money adapted to the wants of man, silver and gold have come to be the â&#x20AC;&#x153;money metalsâ&#x20AC;? of the most advanced nations.

The superior eÄ&#x153;ciency of these â&#x20AC;&#x153;metalsâ&#x20AC;? has been established by ages of use, but their qualiÄ&#x2122;cations are diÄ&#x203A;erent. Gold met these requirements more eÄ&#x203A;ectively, and it has become the money of commerce, even biblically, it is regarded as money.

The monetary similarity of silver and gold prevents the rapid displacement of one metal by the other, while their monetary diÄ&#x203A;erences make both metals useful at the same time in one country or the other; so we Ä&#x2122;nd silver retained in use by nations like England and Germany, though gold is the monetary standard.

Indeed, it is hard to see how any nation could altogether discontinue the use of gold as money. Wherever, metals came into use as money, they supplant all perishable and clumsy commodities, being particularly adapted to such use, in which nearly all of them have done service at one time or another.

Having convenient-sized piece for handling and for your pocket; coins can be run back into bars, if desired, without loss of value.

Moreover, the Ä&#x2122;nal test of coined money is that it shall be worth as much when run into bars as when it is in coin. In order to render to man the highest service of which it is capable, metallic money was meant to have intrinsic value, stability and elasticity. The term â&#x20AC;&#x153;intrinsic valueâ&#x20AC;? as used here, means that a coin contains its full denominational worth of precious metal.

Hence, itâ&#x20AC;&#x2122;s nominal and actual exchangeable values are same.

You must know that if coin contains its full complement of precious metal when issued from the mint, with its free circulation not interfered afterward; it will give it stability and elasticity.

From the beginning of money, through all its forms down to the introduction of paper money, this rule has governed inÄ&#x161;exibility at all times, except when abrogated or interfered with by rulers and law-makers.

The stability of coins must rest upon the value of the bullion it contains, as then it will Ä&#x161;uctuate

only with Ä&#x161;uctuations of the bull market, which is the highest degree of steadiness it can possibly acquire. It will then gain access to the world market, and this wide range of circuit enhances â&#x20AC;&#x153;elasticityâ&#x20AC;?, which term is used to express the readiness with which money responds to the demands upon it.

It is obvious that the larger; broader, and more open the market for any commodity, the more steady will be the price of that commodity. These are marked characteristics of the bull market; consequently, to give to coin all the elements of eÄ&#x153;ciency it can possess. It is only necessary to start it into circulation with its full weight and Ä&#x2122;neness of precious metal, and let it go where it will.

We have long ceased to regard the kingâ&#x20AC;&#x2122;s person as more sacred than that of a subject; nevertheless, a remnant of that old superstitious belief in the potency of sovereignty found its way to the New World, and is here with us, to tangle our thought and blur our perceptions or insight as far as coins is concern.

PERSONAL FINANCE Wealth & Wisdom with Lanre â&#x20AC;&#x2DC;Inspiratiâ&#x20AC;&#x2122; Oyetade 08039428648 (SMS only) lanre.oyetade@mydailynewswatchng.com

6KRZ WKH SHRSOH /LJKW DQG WKH\ ZLOO ÂżQG WKHLU RZQ ZD\ â&#x20AC;&#x201D;Dante

7 principles of the Eagle Today, in line with our eÄ&#x203A;orts at inspiring one another, we want to examine seven of the principles of one of the most astounding creatures of the Almighty â&#x20AC;&#x201C; the eagle. The eagle is so spectacular that even the scriptures â&#x20AC;&#x201C; Godâ&#x20AC;&#x2122;s own very wordâ&#x20AC;&#x201D;makes profound reference to this bird.

So let us take a look into the aÄ´ributes or principles of this creature called the eagle, as culled from the December 2003 edition of the newsleÄ´er of the defunct Standard Trust Bank, before it went into a merger arrangement with UBA Plc. This is done with a view to learning and imbibing some, nay, all of them into our lives towards self-development and a fulÄ&#x2122;lled living. Ĺ&#x2014;ÇŻČą Â&#x2018;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x2022;Â&#x17D;ČąÄ&#x161;Â&#x2019;Â&#x17D;Â&#x153;ČąÂ&#x160;Â&#x2022;Â&#x2DC;Â&#x2014;Â&#x17D;ČąÂ&#x160;Â?ČąÂ&#x160;ČąÂ&#x2018;Â&#x2019;Â?Â&#x2018;ČąÂ&#x160;Â&#x2022;Â?Â&#x2019;Â?Â&#x17E;Â?Â&#x17D; The eagle is not found among sparrows or mixing with other smaller birds. The clichĂŠ that birds of a feather Ä&#x161;ock together is true here. No other bird goes to the height the eagle does. Eagles cruise at altitudes at which only eagles cruise. And they never cruise in a Ä&#x161;ock. The Holy Book records that when Moses went to commune with God on the mountain, he left the crowd at the foothill and went alone. Stay away from sparrows and ravens. Eagles Ä&#x161;y with eagles. Ĺ&#x2DC;ÇŻČą Â&#x2018;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x2022;Â&#x17D;ČąÂ&#x2018;Â&#x160;Â&#x153;ČąÂ&#x153;Â?Â&#x203A;Â&#x2DC;Â&#x2014;Â?ČąÂ&#x;Â&#x2019;Â&#x153;Â&#x2019;Â&#x2DC;Â&#x2014; Its vision is said to focus up to Ä&#x2122;ve kilometres from the air. When an eagle sites prey â&#x20AC;&#x201C;even a rodent â&#x20AC;&#x201C; from this distance, he narrows his focus on it and sets out to get it, no maÄ´er the obstacle. The eagle will not shift his focus from his prey until he grabs it. Have a vision and remain focused no maÄ´er what the obstacle is, and you are on your way to Success Land. Ĺ&#x2122;ÇŻČą Â&#x2018;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x2022;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x153;ČąÂ&#x2014;Â&#x2DC;ČąÂ?Â&#x17D;Â&#x160;Â?ČąÂ?Â&#x2018;Â&#x2019;Â&#x2014;Â?

Rather he feeds on fresh prey. Vultures eat dead animals but not the eagle. Steer clear of outdated and old information. Do your research well always and have a listening ear to the ground. Ĺ&#x161;ÇŻČą Â&#x2018;Â&#x17D;Â&#x2014;ČąÂ&#x152;Â&#x2022;Â&#x2DC;Â&#x17E;Â?Â&#x153;ČąÂ?Â&#x160;Â?Â&#x2018;Â&#x17D;Â&#x203A;Ç°ČąÂ?Â&#x2018;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x2022;Â&#x17D;ČąÂ?Â&#x17D;Â?Â&#x153;ČąÂ&#x17D;ÂĄÂ&#x152;Â&#x2019;Â?Â&#x17D;Â?

It is said that the eagle is the only bird that loves the storm. The eagle uses the wings of the storm to rise and is pushed up higher. He rides higher against the storm, not with it. Once he Ä&#x2122;nds the wings of the storm, the eagle stops Ä&#x161;apping and uses the pressure of the raging storm to soar the clouds and glide. This gives the eagle an opportunity to rest his wings. In the meantime, all the other birds hide in the leaves and branches of the trees. We can use the storms of our lives (obstacles, troubles, etc) as stepping-stones to rise to greater heights. Achievers relish challenges and use them proÄ&#x2122;tably. No cross, no crown; no pain, no gainǡ Ĺ&#x203A;ÇŻČą Â&#x2018;Â&#x17D;ČąÂ&#x17D;Â&#x160;Â?Â&#x2022;Â&#x17D;ČąÂ?Â&#x17D;Â&#x153;Â?Â&#x153;ČąÂ&#x2039;Â&#x17D;Â?Â&#x2DC;Â&#x203A;Â&#x17D;ČąÂ&#x2018;Â&#x17D;ČąÂ?Â&#x203A;Â&#x17E;Â&#x153;Â?Â&#x153; When a female eagle meets a male and they want to mate, she Ä&#x161;ies down to earth with the male pursuing her and she picks a twig. She Ä&#x161;ies back into the air with the male still pursuing her. Once she has reached a height high enough for her, she lets the twig fall to the ground and watches it as it falls. The male chases after the twig. The faster it falls, the faster he chases after it until he reaches it and he has to catch it before it falls to the ground, then brings it back to the female eagle. The female eagle grabs the twig and Ä&#x161;ies to a much higher altitude pursued by the male until she perceives it high enough, and them drops the twig for the male to chase.

This goes on for hours, with the height increasing until the female eagle is assured that the male eagle has mastered the art of picking the twig, which shows commitment. Then, and only then, will she allow him to mate with herǡ Whether in private life or in business, one should test the commitment of people intended for partnerships. It is on record that the eagle maintains only one sex partner throughout its lifetime and lives for about 120 yearsǡ Next week, we shall take the concluding part of this treatise. So watch out. Until then, please stay INSPIRED In His presenceǡ Č&#x160; ÂĄÂ&#x152;Â&#x17D;Â&#x203A;Â&#x2122;Â?Â&#x153;Čą Â?Â&#x203A;Â&#x2DC;Â&#x2013;Čą Â&#x2013;¢ȹ Â&#x2022;Â&#x160;Â?Â&#x17D;Â&#x153;Â?Čą Â&#x2039;Â&#x2DC;Â&#x2DC;Â&#x201D;Ç°Čą Inspired Keys to Book Review Successful Achievement.

28

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

GLOBAL BUSINESS Palestinian corruption chief claws Getting rid of big currency notes back $70 million, more to recoup could help fight crime -Report

T

he head of the Palestinian anti-corruption body says he has clawed back $70 million in ęve years but his investigators have failed to uncover evidence to justify allegations that hundreds of millions of dollars in government funds have gone missing.

Raęq al-Natsheh, chairman of the Palestinian Anti-Corruption Commission, said “tens of millions of dollars” needed to be tracked down and that one of the biggest challenges facing his team was geĴing funds back that had disappeared abroad.

After years of talk of vast sums going astray - the aĴorney general of the Palestinian Authority announced in February 2006 that he was investigating 50 cases of embezzlement from the authority’s budget totaling $700 million President Mahmoud Abbas is under pressure from donors to show he is taking action.

The European Union and the United States, both of which

provide direct budget support to the Palestinians, want to see tighter controls, with the Europeans going as far as to send investigators to track where some of their funds have gone.

Natsheh, a political scientist who studied in Beirut and spent much of his career abroad, including in Egypt and Saudi Arabia, was appointed by presidential order in 2010. He was given sweeping powers to investigate misappropriation of funds, embezzlement, bribery, nepotism and any other corrupt practices.

“There is lots of talk about corruption, but there is very liĴle actual corruption,” the 81-yearold told Reuters in his oĜces in Ramallah.

“You hear people talk about billions, but it’s not like that,” said Natsheh, speaking carefully in English. “When it comes to the facts, showing the evidence, there is much less. I thought I would ęnd more corruption.”

Over the past ęve years, direct support to the Palestinian budget

from the EU and others has fallen from around $1.3 billion a year to less than $700 million, with the decline aĴributed in large part to frustration over money not being spent where it was intended or not being fully accounted for.

Natsheh says he has heard the complaints, citing an article in the German weekly Der Spiegel alleging $1.7 billion had gone missing. But the commissioner, sipping tea and smoking Davidoě cigareĴes, said there was nothing to back these claims.

“I asked everyone and I didn’t ęnd any evidence,” he said.

“We hear many things from the Europeans and Americans, but the evidence isn’t there,” he said. “We are working according to the law. No one is guilty until it is proven.”

The same goes for Palestinian NGOs set up to monitor corruption, he said. One NGO said it had 1,800 documented cases. But when asked for details, Natsheh said they provided information on just 10 cases, none of which checked out.

F

ew Europeans use the 500-euro note, and most Americans rarely encounter the $100 bill.

Yet hundreds of millions of these notes are in circulation around the world, where they are often used by drug cartels, corrupt politicians, terrorists and tax cheats to evade law enforcement. That’s why oĜcials in Europe and elsewhere are proposing to end the printing of high-denomination bills.

According to a recent paper from Harvard’s John F. Kennedy School of Government, geĴing rid of big bills will make it harder for criminals to do business and make it easier for law enforcement to detect illicit activity. Consider this: a stack of 500-euro notes worth $1 million weighs just ęve pounds and can be carried in a small bag, whereas a pile of $20 bills worth the same amount would weigh 110 pounds and would be much more diĜcult to move around.

The president of the European Central Bank, Mario Draghi, recently said the bank is considering geĴing rid of the 500-euro note ($557), though the central bank plans to keep the 200-euro and 100-euro bills. Most Europeans never use the 500-euro note, and some retail stores in the eurozone do not even accept that bill.

Europol, the European Union’s law enforcement agency, said in a report last year that criminals have been known to trade it for more than 500 euros, a sign of its value to them. Other big bills, like the 1,000 Swiss franc note,

which is worth about $1,010, and the 1,000 Singapore dollar bill, the equivalent of $712, are also favoured by criminal enterprises and tax evaders.

The former Treasury secretary and former adviser to President Obama, Lawrence Summers, has argued that the United States should get rid of the $100 bill; about 65 percent of these bills are held outside the country, according to a study published by the Federal Reserve. But that change could be disruptive because the $100 bill is used widely overseas for legitimate purposes, too. And as long as the E.C.B. continues to print 200-euro and 100-euro notes, criminals could switch to those bills. That’s why such eěorts should be coordinated internationally.

Critics who oppose such changes say the big bills make it easier for people to keep their savings in cash, especially in countries with negative interest rates. Some people also prefer not to conduct transactions electronically because they fear security breaches. But these are relatively minor burdens compared with the potential beneęts of reducing criminal activity and tax evasion.

There is no need for largedenomination currency. Britain’s top bill is the 50-pound note ($72), which has been perfectly suĜcient.

The United States stopped distributing $500, $1,000, $5,000 and $10,000 bills in 1969. There are now so many ways to pay for things, and eliminating big bills should create few problems.

Apple calls on Congress to form committee for privacy issues

Rafiq Al-Natsheh, head of the Palestinian Anti-Corruption Commission

How North Korea funnels cash into the country-Report

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trail of money stretching from a Panamanian shipping agent to an octogenarian Singaporean to a Chinese bank provides a window on why U.S. eěorts to tighten sanctions on North Korea may be harder to achieve than in the case of Iran.

According a report by William Newcomb, for decades North Korea has built networks of front companies and foreign intermediaries to channel currency in and out, circumventing aĴempts to isolate it over its nuclearweapons program. Court documents and interviews with investigators, banks and prosecutors show the cornerstone of those networks is China.

“Its geographic proximity, the huge trade volume, having the contacts, and having the historic relationship all contribute to making China the centre point for any

North Korean initiative to evade international ęnancial sanctions,” said William Newcomb, a former member of a panel of experts assisting the United Nations’ North Korea sanctions commiĴee. “China is a very important piece in making sure that blockages work.”

He said, sanctions applied by the U.S. and other countries to pressure Iran to stop its nuclear weapons program included the freezing of about $32 billion of oil revenue held at banks overseas.

Those accounts were unlocked after last year’s nuclear accord, negotiated with world powers including the U.S. and European Union.

“But Iran’s much larger overseas revenue and its dependence for funding on oil exports made its international ęnances easier to track. Its economy is about 15 times the estimated size of North Korea’s, and that country’s decades of isolation mean its economy is more self-contained.

“The primary playbook for upping sanctions eěectively is Iran -- although that may not make practical sense here,” said Adam M. Smith, former senior adviser to the Director of the U.S. Treasury Department’s OĜce of Foreign Assets Control and now a Washington-based lawyer with Gibson Dunn.

“Such implementation would call for the U.S. -- and perhaps others -- to begin threatening sanctions on North Korea’s supporters and protectors.”

“North Korea relies on China, its biggest trading partner, for food, arms and energy. The countries describe their ties as “friendship forged by blood” during the 1950-1953 Korean War where the U.S. was a common foe. China has criticized North Korea for provocative actions but historically opposed harsh sanctions that might precipitate a regime collapse and a Ěood of refugees across its 870-mile (1,400 kilometer) shared border”, he added.

A

pple Inc. said the government should withdraw its court order requiring the company to help unlock a terrorist’s iPhone, and instead asked that U.S. lawmakers form an expert commission to discuss the implications for privacy, freedom and national security.

The company would “gladly participate” in such an eěort, which has been suggested by some in Congress, Apple said in a statement on its website Monday.

Last week, U.S. Magistrate Judge Sheri Pym ordered Apple to lend “reasonable technical assistance” to the FBI in recovering information from the phone used by Syed Rizwan Farook, who killed 14 people in San Bernardino, California, with his wife in December. Apple has so far rejected the court order, saying that it would open a “Pandora’s Box” of privacy issues.

The standoě has ignited a longsimmering baĴle between the tech industry and the government, piĴing concerns over civil liberties against the need for surveillance to ęght terrorism. A Congressional panel would open the discussion to more voices than a court hearing would provide, and give the company a broader venue to

make its case to the public, which is divided on the issue. According to a survey by the Pew Research Center, 51 percent of Americans are backing the FBI, while 38 percent say Apple shouldn’t unlock the phone.

“We feel the best way forward would be for the government to withdraw its demands under the All Writs Act and, as some in Congress have proposed, form a commission or other panel of experts on intelligence, technology, and civil liberties to discuss the implications for law enforcement, national security, privacy, and personal freedoms,” the company said Monday.

A Congressional commission also may pave the way for new laws dealing with questions of privacy and security, measures that technology companies like Apple and Microsoft Corp. say are needed because current communications laws predate technology such as cloud services and the Internet.

The case centres around whether the government can require Apple to write new software to compromise a key security feature of the company’s iOS mobile operating system. The government argues this is a one-time request that will aid an important terrorist investigation.

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30

NEWSWATCH TIMES, SUNDAY, FEBRUARY 28, 2016

CUISINE Wines et al

Bukola Bakare

08034198320

bukkybakky@yahoo.co.uk

Gamay as American protest for Beaujolais

B

eaujolais, and more especially Beaujolais Nouveau, has long been considered the quintessential Thanksgiving wine, thanks largely to a lot of clever marketing in the

Spicy-baked turkey wings, on a bed of crispy-fried zucchini and Chipotle sauce

Stick with the old or try something new

I

ts location, close to the water front, guarantees constant supply of cool and fresh air, if you prefer to sit at the waterside dining tables. Inside the restaurant itself, you are welcomed with soft lightening, even if it is somewhat dark. But the relief from the outside world is instant.

The menu is re-jigged every three months, based on the preferences of their guests with new items introduced to tempt their taste buds, all in a bid to keep their guests interested and loyal. And according to some of their customers, they are succeeding.

On its menu, you will ęnd a variety of meals, including some Nigerian Ěavours like the yam and peppered sauce as an appetizer or something to chew on, if you are not hungry.

It comes with a choice of peppered gizzards or beef. There are also meals that you can put your twist on. The wait staě can help you on that.

Seafood & grilled zucchini sandwich, with avocado salad, honey mustard mayo.

The main menu presents some interesting choices like the spicy baked turkey wings with crispy fried zucchini and chipotle sauce, or the roasted almond and feta salad with grapes-another Ěavourful and colourful dish.

The lobster tail thermidor was quite moist and would melt on your tongue with its tasty and sweet Ěavours. There is also the broiled tilapia Parmesan; the ęsh is broiled with a creamy cheese coating for an impressive Ěavour and texture.

Should you have some room left, desserts are a decadent experience here: the soft vanilla cake layers ęlled with coconut pastry cream, ęnished with cream cheese icing and Ěuěy coconut. Or, the Banana pudding with peanut buĴer cookie crumbs, which gives you that yummy feeling.

Banana pudding with peanut butter cookie crumbs

If you would like your restaurant, bar, lounge and/or wine stock featured on this page, kindly get in touch via bukkybakky@yahoo.co.uk Tel: 08034198320

1970s.

And while these light-bodied, low-tannin reds do pair well with turkey and all of its friends, it does seem odd to more than a few Americans that a French wine is the classic pairing for such an allAmerican holiday that even resonated to Nigeria over the weekend.

Consequently, winemakers from across the U.S. are now translating their love for Beaujolais into home-grown versions of the region’s signature grape, Gamay.

American plantings of Gamay have now increased during the same time period that the once underappreciated grape has now gained popularity among sommeliers and wine lovers.

Many, of course, think of Beaujolais and the Gamay grape of only having the ability to produce thin, uninteresting wines. However, with a new generation of wine lovers who increasingly seek out terroir-driven wines, there has been a trend over the past 10 to 15 years to refocus on quality wines from Beaujolais, particularly those at the villages and cru levels.

For years, a grape called Napa Gamay was grown widely throughout California and incorrectly thought to be the same grape as Beaujolais’ Gamay Noir, until that was disproven in 1980.

Even today, domestic Gamay remains mostly an obscurity, with most boĴles produced in limited batches from smaller-production wineries, adding to the low availability of the wines.

The challenge for American winemakers making Gamay is to retain acidity and minerality in the wines while managing ripeness and alcohol. Cool climates and the high-elevation tend to produce the best examples of American Gamay, but experimentation with new regions is continuing.

Breaking the Beaujolais tradition these days,nevertheless, are American Gamay wines ready to rival top boĴling from their French counterparts and more than deserve a place at the table this Thanksgiving.

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7 , 7 %= % = = = # < ! 2= ! ! = = # = = = = = = 1= = = = ! %= ! = = ! ! = # = # = = = = = %= = =# = = %= = = 1= = = = 2= = = = = = = ! = = = = = = ! = # 9 = = 6 = = = = 71= = #= = = = = = 2= = = = " %= ! " = = %= = = %= 1= " = 2=! ! %2= = % = Ĵ= ! = = = = = = ! = 1= ! = = = = = = # 2= = 9 = = = =# = = = ! = = = = = = = # = : &%= ;= = = ! = # 9 = 2= 1= = " = = = = %= = = = = = = = = =# 1= = = ! = = = %= Ĵ= = = ! = = ! = =: 1;= = = = ! = ! = = = = ! 1= = = ! %= = Ĵ= " =# = = = = # = = = = = = = " = $ 4= = = = = = # = # = = = = = = 9 = = # = 1= 2= # = = = =# = 2= %= = = ! = = 2= ! = = = = ! = ! = 2= = = = %= = = %= = = % = = # 1= = = = = = % =,= = = = 2= # = 0,= = = ! = = = %1= = #= = = ! = = %1= = = = " %= = = = = = = Ĵ= ! = = = = ! = # = # = = = = = = $ 4= = = ! %= ĝ == = = = = = = " =" %= Ĵ= = = = # = 2= %2= ! = = = = = = = ! = %= 2= 1= ! = = = ! = = = = = = = # = = = " 2= = = = $ = = ! 9 = %2= = = = = % = = ! =# = = ! = = = = = ! = #= = = = ! = %= = = ! 5

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Dr. Olutunde John Olarinde Veterinary Surgeon/Clinician Tel: 08107801331 E-mail: straitgate_cpts@yahoo.co.uk

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Ibe, Iheanacho head to Wembley for Capital One &XS ÀQDO

Oliseh’s resignation not good for Nigerian football –Kpakor

Newswatch Times E Pg 42

SPORTS

NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

Victor Enyinnaya

x-international, Moses Kpakor, says that resignation of former Super Eagles skipper, Sunday Oliseh, may have negative eěect in the team’s preparations for the crucial AFCON 2017 qualiContinued on page 43

INJUSTICE! ...Ugbade expresses disappointment for non-inclusion in new appointments made by NFF for national team coaches

Babs Oyetoro

F

ormer Super Eagles defensive midęelder, Nduka Ugbade has expressed dismay at the recent appointment of coaches made

by Nigeria Football Federation (NFF) to national teams, saying the football authorities are not being fair to him.

Continued from page 43

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NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

Ibe, Iheanacho head to Wembley for Capital 2QH &XS ÀQDO

T

wo Nigerian players, Jordon Ibe and Kelechi Iheanacho may be on display today as Liverpool’ lock horns with Manchester City in the ęnal of Capital One Cup ęnal at Wembley.

Without the ball, and without a recognised striker, they pressured City’s men maniacally and once possession was won back, they were poised and clinical. They won 4-1.

Now the sides meet again at Wembley, for the ęrst cup ęnal of this gloriously erratic season.

European encounters have been safely negotiated, with key players avoiding injury in winning displays. Manchester City have had to Ěy back from Ukraine after beating Dynamo Kiev 3-1, but Liverpool played a day later and overcame Augsburg 1-0.

With their Champions League ęrst leg won, Manchester City head to Wembley as Capital One Cup favourites Despite the defeat by Klopp’s team in November, City will head to London as favourites to lift the Capital One Cup for the second time under outgoing manager Manuel Pellegrini.

The Chilean’s side were superb in the ęrst half of their 3-1 Champions League win against Dynamo Kiev on Wednesday but did waver a liĴle in the second.

David Silva, deployed behind Sergio Aguero, was artful with the ball, cunning with his movement and inĚuential to his side’s Ěuid display.

He will almost certainly reprise that role on Sunday,

something which could entice Klopp to move Lucas Leiva out of the centre of defence and into his favoured defensive midęeld role, tasked with shackling Silva rusting the joints of City’s aĴack.

Silva will have Yaya Toure alongside him, the powerful Ivorian undoubtedly buoyed by a stunning left-footed strike in the 89th minute in Kiev.

Rightly, his work-rate has been questioned in the last 18 months but his appetite for the big games remains insatiable.

Yet the duo are not the biggest danger for Liverpool. Sergio Aguero, the man who has ruthlessly ęred 92 goals in 138 City appearances, spearheads Pellegrini’s aĴack.

Exactly who Aguero will directly oppose in Liverpool’s backline is something for Klopp to contemplate.

Lucas partnered Mamadou Sakho in the heart of defence against Augsburg, Klopp citing the Brazilian’s ballplaying capabilities as a reason to dislodge the former City defender Kolo Toure, Yaya’s older brother.

Martin Skrtel has returned to training for Liverpool but did not make the bench on Thursday. Wembley must be too soon for him. Dejan Lovren, meanwhile, missed Augsburg with illness.

Emre Can could make way for if Lucas does move into midęeld, with the energy and experience of James Milner and Jordan Henderson making them most likely to keep their places in midęeld.

It would be surprising if Liverpool’s aĴack is anything

other than Daniel Sturridge, Philippe Coutinho and Roberto Firmino, who was so pivotal to that victory against City in November.

With Sturridge injured and Christian Benteke unfancied, Firmino led Liverpool’s aĴack and helped his side unhinge City’s defence alongside Coutinho and the currently injured Adam Lallana.

Without the ball, Lallana and Coutinho pulled wide but with it, they grouped around Firmino, who would often drop deep and pull City’s defence up with him.

That created space in behind for Lallana and Coutinho, aided by the seemingly tireless Milner

and Can, to raid with bursting runs forward.

It is something that Sturridge could be told to replicate but the ploy would not be a natural ęt for his style. The England international can be as deadly as Aguero in front of goal, as his record of 45 in 77 for Liverpool shows. He needs to be in the penalty box.

It remains to be seen which goalkeeper Sturridge will be opposing. Willy Caballero has featured between the sticks for City in the domestic cups but is far from as convincing as Joe Hart.

Sturridge’s presence is akin to that of City captain Vincent Kompany, who was also absent

Okechukwu’s Turkish club back on track

N

igeria Under-23 captain, Azubuike Okechukwu, has revealed that Yeni Malatyaspor’s victory over table toppers Karabukspor was the turning point the team needed and so it was not surprising they subsequently hammered hosts Elazigspor 3-0.

“The Kardemir Karabükspor match was the turning point we needed. After that we will continue on our way to winning more matches,” Okechukwu said.

Sunday Mba neĴed a brace in the game against Elazigspor with fellow Nigeria stars Okechuwkwu and George Akpabio also involved.

The Turkish second division clubs are now seven points clear of the relegation pack after a diĜcult start to the season.

in the previous meeting, in the sense that team-mates simply look that bit more conędent when he is on the pitch.

Sturridge provides Liverpool with a focal point for the aĴack and some much needed selęshness in the ęnal third. He is yet to complete 90 minutes since returning from injury but ęelding him makes Liverpool more likely to win their ęrst trophy since 2012.

Onyekuru wants Rio Olympics chance

A

S Eupen of Belgium striker, Henry Chukwuemeka Onyekuru, has said he looks forward to representing Nigeria at the Rio Olympics this summer.

Onyekuru, who played non-league football with Real United, BRF Academy and Weekend Soccer Academy (All in Lagos) before he left for the Aspire Academy, said he believes he has all it takes to play for Nigeria and will be glad if given the chance “My dream has been to play for Nigeria. I will be 19 years in June, I won’t mind geĴing a chance with the U23 team,” he oěered.

“I believe in myself and I am sure if given the chance I won’t disappoint. I will be glad if I am honoured with the chance.”

He has scored four goals in 13 league games this season for AS Eupen, who are ęfth on the Belgian second division table with 42 points from 25 matches.

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NEWSWATCH TIMES SUNDAY, FEBRUARY 28 , 2016

SPORTS Continued from page 41

According to him, the appointment of new technical crew for the junior national teams in the recent time as not been fair saying he deserves to be in one of the teams as a coach.

Ugbade, who was recently rewarded by the presidency alongside his colleagues for winning the maiden edition of the cadet FIFA World Cup in 1985 maintained that he had served this country faithfully both as a player and also as a coach and as such he should not have been spurned by the NFF in the appointment of coaches into U17 and U-20 national teams.

The immediate past U-20 assistant coach recalled that while in the team working with Manu Garba he gave his best to the team saying the team won the African Championship and tried their best at the FIFA U-20 World Cup. He added that while in the U-17 team, he alongside his colleagues, achieved great feats by winning both the African championship and the U-17 World Cup as well noting that there had never been a time that he quarrelled with Manu while both of them were working together.

“Since the NFF made these appointments so many people have been calling me just to

INJUSTICE! express their disappointment over the appointment.

Honestly, I don’t know what to say rather than maintaining silence because I don’t know what the football authorities

have in stock for me. Personally, I know that I still have a lot to oěer. The nation has invested so much on me and I think this is the time to give back to the country as well”, he explained

painfully.

“Let me say here that I have not given up because may still be in the oĜng for me. I remain positive until I hear from the Nigeria Football Federation”, he said philosophically.

It would be recalled that coach Garba Manu has been re-assigned to lead the U-17 team while coach Emmanuel Amuneke has been up graded to the U-20 team and both coaches are having diěerent assistants as well.

Continued from page 41

demand an unconditional one too from the governing body so that the overall value of the country in this all important national interest would take the centre stage. He insists that the need to work together would not be half measure but total which its result will show in our ęrst leg game against the ęt ęghting North Africans in Kaduna in March 25. ‘’Nigerians would like to see all hands on deck for this double header clash to end in our favour without much hassle.

Though it won’t be an easy one as football encounters between both countries have proved over the years however, if we prepare earnestly we will march them head – on, we have stars that can conveniently carry the game to their arena with sustained pressure. This is the time to quick rebuild this house that divided against itself once upon a time.

The burden of not making it to the ęnals of 2017 won’t tell only on Oliseh but on all of us, therefore we must face the realities and work assiduously towards saving the country the disgrace of being tagged a sleeping giant that ęnds it diĜcult to harness her depth talents to be in the centre stage of the most prestigious continental football event at the highest level,’’ he remarks.

He further pointed out that to embrace all persons that would make successful input into our collective dream to be in Gabon 2017 ęnals remain the best option for Oliseh and his crew.

He should also look inwards to ensure that only the ęĴest players would adorn the ęrst eleven line- up that would dismantle whatever strategy the visitors would mount to frustrate the homers from winning the game convincingly. Let me appeal to NFF leadership and the technical commiĴee to sincerely work with the coach for the national interest to prevail, he said.

Oliseh’s resignation not good for Nigerian football –Kpakor ęer match between Nigeria and the Pharaohs of Egypt.

Kpakor said the resignation came too sudden few weeks to the all-important match, as he called on the football stakeholders to persuade the coach for a change of heart.

‘If normalcy returns to the system, preparations for the decisive encounter would be in one accord. It will give ample room for proper planning. The naked truth remains that we need absolute concentration for this match that is central to ambition not to miss out again in the next edition of Africa’s prime biannual football summit coming up in Gabon in 2017,’’ he reasons.

According to him, in as much as lots of sacrięces are required from Oliseh, so also Nigerians

Ugbade

Dauda wants Eagles chance

N

igerian-Swedish footballer,Abiola Adedeji Dauda, has appealed to the newly assembled Super Eagles technical crew to give him a chance in the team’s quest for the Nations Cup and World Cup tickets.

Dauda who plays for Heart of Midlothian in the ScoĴish Premiership, on loan from Vitesse Arnhem, as a striker, said he was ready to help the national team aĴain their lofty heights by featuring in the qualięers.

The player after over ęve years of playing competitive football in Sweden, Dauda gained Swedish citizenship in June 2013 and has since become an household name in Europe.

Siasia and Amuneke have a lot work at hand to assemble a solid team, made up of quality players who are hungry to make impact in the national team.

Dauda, is a footballer with a unique background who is now intent on stamping his own impression in Edinburgh. He needs games and goals in the Ladbrokes Premiership before his loan ends and he returns to his parent club in the Netherlands, Vitesse Arnhem.

Four games have come and gone like a whirlwind already. The 28-year-old admits it is a challenge adapting to the football and the climate here. He is well versed with Europe having played in Sweden and Serbia as well as the Netherlands. However, Scotland is rather unique in its own way.

That also applies to Dauda, whose family history is literally wriĴen all over his face.

“I get asked about that a lot since I moved to Europe,” he said, speaking exclusively to the Evening News. “It’s a tradition from home which represents where I come from. It’s more or less about leĴing people know about the kind of family I’m from. Everyone in my family has this. The men and the boys have these scars and the females have diěerent ones.

“If I walk on the street now and maybe someone from Nigeria sees me, if he knows a bit about tribal

Dauda

marks, he can ask me where I’m from. It’s about my identity. It’s just tribal marks. When I ęrst moved here I got asked thousands of times. It’s normal. I guess it makes me look diěerent.

“I’m enjoying my time here and the people at the club have welcomed me well. I like the players and the staě so it is very positive. The football is quite diěerent compared to Holland. I’ve played four games and it’s been four diěerent type of games. The last one [against

Dundee United] is what you have to expect about ScoĴish football – a lot of long balls and not too much playing. I guess you have one of these games in a season where it is like this.

“I had some minutes at Vitesse and I also played in the reserves.

I would not say I wasn’t ready to come here. The ęrst two games I played were okay, and now I’m geĴing beĴer and stronger. I’m working hard in training, trying to push myself up a level. When you come to a new place, you don’t expect things to just click. You need a liĴle bit of time. I think I’ve dealt with it preĴy well so far. I need to prepare myself mentally that every game will be like this.”

News of Osman Sow’s £1m-plus transfer to China broke the day Dauda checked into Tynecastle.

Fans, perhaps naturally, looked to the new loan arrival as a replacement.

Dauda didn’t entertain such a notion and simply set his mind on making his own impact. He will continue striving to do so tomorrow, when he hopes to add to his two goals so far against Kilmarnock at Tynecastle.

“It don’t feel under pressure.

I’m only going to be here for six months. That’s the big diěerence.

I’m just here to represent myself.

With all respect to him for what he did for the club, I wish him all the best but I’m not here to ęll in for him. I’m here to give whatever I can to make the team stronger.

“Of course, this is the kind of speculation that goes on around people and fans. They think you’re here to ęll in for the guy who left and they talk about how important he was to the team. Sow is the kind of player he is and I am the kind of

Oliseh

44

NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

SPORTS/GOLF Ajaya wins 2016 DOAMF Golf contest

GolfWatch

S

eventeen-handicapper, Sivan Ajaya, has won the 2016 edition of the Daniel Ogechi Memorial Foundation Golf Tournament, which was concluded last weekend at the Golf Section of Ikoyi Club 1938 in Lagos.

He shot 67 net at the one-day tournament; towering above other players that teed oě at the event on Saturday February 6, 2016.

Ajaya, who has been a steady supporter of the Foundation, said he was very happy to have emerged winner of the 2016 edition. He carted away not only the coveted winner’s trophy but also, an ArikAir business class return ticket to any international destination of his choice Ěown by the airline.

According to him: “I am indeed very happy, this is a unique and well managed event, the purpose of the event makes it a more special one to be associated with. It is indeed a big achievement for me.”

His score placed him two shots beĴer than Giovanni Mello who returned 69 net in second place, while Tony Press ęnishedin third place with 72 net.

Chairman, Organising CommiĴee of DOAMF Charity Golf, Pat Bassey, said the event has grown to become the biggest show of support for the less privileged by the Nigerian golęng community.

“We touched 9,000 lives in 2015 through scholarship awards, building of sickbays and partnering other health institutions in remote locations across the country. We have set a target to, at the least, double the headcount this year and, our sponsors have shown they are in support of this by overwhelmingly backing us.

This corporate and individual support has given us some measure of conędence that our goal this year is realizable.” he said.

Other winners at the event include, Peter Eben-Spiě who shot 80, eight over par to claim the overall gross prize, leaving Warren Dance and DOAMF 2015 Winner, LanreTaniwomo, to second and third place respectively.

Godwin Oboh scored 76 net to lead the veteran category, while Rita Okafor emerged ladies’ best net player with 71 net score over 18 holes of play.

This year’s events was supported by PricewaterhouseCoopers, Diamond Bank Plc, Zenith Bank Plc, ARM Pension Managers, Arik Air Limited, Channels Television, Radial Circle Group, CappaǭD’AlbertoPlc, Heritage Bank Limited, SPAR (Park N’ Shop), Southern Sun, Four Points by Sheraton, Victoria Crown Plaza, Grand Oak, Chikki Foods and Ikoyi Club 1938, among many others.

08023113110

gboladada@yahoo.com

Fun, thrills as Edet emerges overall winner at Ibadan Golf Club’s 4th Insurance Open

Monday Edet (in yellow), from Tiger Golf Club, receiving the trophy from Chief Babajide Olatunde-Agbeja, Chairman, Insurance Golf Tournament.

T

he Chairman, Organising CommiĴee of the Ibadan Golf Club’s 4th Insurance Open 2016, Chief Babajide Olatunde-Agbeja, has rated the tournament as highly successful judging by the huge turnout, participation and sponsorship, writes Olusakin Babalola, Ibadan Monday Edet, a Gross Player Handicapped 2 from Tiger Golf Club emerged the overall winner at the twoday tournament which drew participants from all parts of the Federation.

Notable golfers at the tournament included Mr. Akin Funmilayo-Williams (Captain IGC); Chief Babajide OlatundeAgbeja (Chairman, Insurance Golf Tournament); Barr. Idowu Salami; Mr. Segun Omolehin; Prince Olagunsoye Oyinlola; Mr. Dejo Oyelowo; Gen. Wole Adejumo; Mr. David Owoyemi (renowned Golf trainer); Mr. Monday Edet; Dr. Kehinde Osinfade; Mr. Dayo Adejuwon; Prince Olajide Sarayi; Barr.

Tunde Akande; Mrs. Evelyn Oyome (the No. 1 female Golfer since 2008) as well as Mrs. Temitope Alonge (the Lady Captain IGC), among several others.

Monday Edet, the overall winner at the tournament anchored the feat on self conędence, resilience and determination.

“As I trudged on in the tournament, I

built more conędence in my ability to cling the giant trophy just as I ensured strict adherence to the instructions earlier given me by my trainer.

These I think are the secrets to my emergence as the winner,” Monday Edet remarked as he joyfully received his award during the closing session.

Addressing the closing session, Chief Agbeja noted with delight that the sponsorship was outstanding as manifested in a record 17 insurance companies jointly pulling resources together to sponsor the tournament as against 15 companies that sponsored the 3rd edition.

His words: “I believe it was a grand success.

There is no doubt that times are hard economically and insurance companies, like others, are struggling to survive.

But as good corporate citizens, they know that they must encourage sports.

So, sponsorship cannot be jeĴisoned or thrown aboard.

You cannot say because you did not make as much money as you made last year, you would not leave some funds aside to sponsor tournaments and programmes and many of them have a good budget for corporate social responsibility.

So, while the economy has not been very good, these insurance companies have been outstanding in supporting us.”

Speaking in the same vein, a doyen of the Ibadan Golf Club, Dejo Oyelowo, lamented that in the recent past, the economy had adversely aěected sponsorship of Golf tournaments by companies and entrepreneurs operating in the country thus hindering Nigeria’s moves to produce world-class professional golfers.

Oyelowo, a retired Commissioner of Police, however noted with delight that the present administration under President Muhammadu Buhari has been doing a yeoman’s job to put the national economy on the right track thereby rekindling the hope of industrialists and businessmen to perform their expected social responsibilities, notably in the development of sporting activities in the nation.

He said: “In those days, during the oil boom, we used to have professional golfers from the whole world, coming to play here at the Ibadan Golf Club; even up to the No. 1 professional player. But in the recent past, the economic situation in the country has been the major factor militating against the growth and development of Golf in Nigeria as it has been negatively aěecting sponsorship by companies.

“We however thank God that the present government in Nigeria has been doing a lot to give conędence and trust to the national economy. There is belief and trust in the government now that things will continue to be beĴer. And it will interest you to note that industries are gradually showing interest in the promotion and sponsorship of sporting activities, particularly Golf.

No wonder, therefore, the large turnout at this Insurance Open 2016. It is a success story because since the beginning of the year, we have not witnessed any turnout as large as this.”

McIlroy pins hopes on an ‘up’ week

R

ory McIlroy will try to rebound from a disappointing ęnish in Los Angeles when he tackles the Honda Classic this week at PGA National — a course on which he admits he has had his ups and downs.

McIlroy beat Tiger Woods to win the title in 2012 — rising to No 1 in the world for the ęrst time. Defending his title the following year, he withdrew while trailing with a painful wisdom tooth. In 2014, he was again in the thick of things, losing in a playoě, but he missed the cut last year.

“I think it’s the nature of me,” McIlroy said with a smile this week, when asked to account for his varied results on PGA National’s Champion Course in Palm Beach Gardens, Florida.

“It’s one of these golf courses that if you’re slightly oě, it can really magnify your misses a liĴle bit, and it can make you feel as if you’re playing worse than you actually are,” McIlroy said.

“If you’re in control of your golf game, it’s one of these courses that you can play well at, and you can give yourself plenty of opportunities, and it’s not like you need to go crazy low here to be in contention.”

McIlroy teed oě on Thursday (in the early hours South African time), alongside British Open champion Zach Johnson and reigning Honda Classic champion Padraig Harrington.

McIlroy

McIlroy, now ranked third in the world behind American Jordan Spieth and Australian Jason Day, is chasing his ęrst victory of the year.

His best ęnish was a third place in Abu Dhabi. He was in contention at the PGA Tour’s Northern Trust Open last week, where his opening eagle in the ęnal round gave him a share of the lead, but he closed with a 75.

This week’s tournament is a chance for him to bounce back and begin to build momentum going into the Masters, where a victory would see McIlroy complete a career Grand Slam.

45

NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

POLO/SPORTS

Fifth Chukker Patron, Adamu Atta (third from right) and his players show off the Majekodunmi Cup trophy after presentation by the richest man in Africa, Aliko Dangote (third from left) at the just concluded MTN Lagos international polo tournament held in Ikoyi, Lagos.

Lagos Polo’2016: Atta’s Fifth Chukker sparks Lagos Clean Sweep Ekpenyong Ekpenyong

P

olo, the king of sports and the sport of kings is about passion, aggression, adrenalin rush and innovation. That is what the just concluded MTN/Lagos’2016 International Polo Tournament truly was.

Polo supremo, Adamu AĴa was all smiles as they reĚected on Fifth Chukker 15-7 victory over Ironclad/Trojan in what has gone down as one of the most ęercely fought Majekodunmi Cup ęnal in decades.

“To beat a great side like Trojan Ironclad in the manner we beat them is very special. I can’t hide my joy. I feel proud of our team spirit and determination. It was a great moment for us to be able holds back highly motivated players who were bent on reclaiming the title they lost last year,” AĴa pointed out.

The ęnal weekend of the prestigious MTN Lagos 2016 international tournament provided another wave of triumphs, disappointments and astounding athletic achievements … along with more than a few controversial moments.

After ten breathtaking days of the best international polo action in Lagos, the polo world will surely now be reliving the magic and the legacies thrown forth by the just concluded tournament. The 2016 edition of the Lagos polo festival lived up to the tournament’s billing as a truly global festival, with the Kaduna based AĴa spearheading Lagos teams to an historic clean sweep of all the major titles With the standard of play reaching new heights, there were few upsets and one of such upset of the Lagos’2016 came from Lagos Aerovote team who emerged from crowded ęeld to snatch a spectacular Low Cup victory.

By far the biggest show of the tournament belong to Adamu and his 5th Chukkers who carted home the event’s

Ȋ Ȃ ȱ ȱ ȱ Ȃ ȱ biggest prize and consolidate their status as the kings of Lagos polo, having won the international tourney more than any other team in the last decade.

The Majek Cup played before a full crowd that include Minister of Defence, Mansur Dan Ali, billionaire and business mogul Aliko Dangote, GTBank, among other dignitaries, saw Fifth Chukker (Adamu AĴa, Babao Lawal, Manuel Crespo and Julio Astrada) opening the score through Crespo and he doubled the lead with a 10 yarder to close the chukka.

The second chukka was identical to the initial as a combination of poor ęnishing and desperate defending prevented further goals but it was Crespo, an eight goaler, again, who scored the game’s next two goals for a 4-0 lead.

Eduardo Menendez got Ironclad (Tobi Edun, Kunle Tinubu and Frankie Menendez) oě the mark with a 40 yarder at the start of the third chukka but Crespo responded with another goal for a 5-1 lead. It was soon 6-1 as Crespo who was later named the MVP for the Majek Cup, scored a reverse shot to punish poor defending by Ironclad.

Eduardo scored to make the score 6-2 but Crespo was on hand to make it 8-2 with two more goals and it was 8-3 by the end of the fourth chukka as Eduardo scored a goal to keep his team on the game. The scoreline was 10-5 as Crespo and Eduardo and Tinubu scored in the ęfth chukker. The last chukka witnessed more ęreworks from Crespo, who spearheaded a magnięcent display for a 15-7 triumph for Fifth Chukker.

The Majke Cup cracker was preceded by a tense local derby subsidiary ęnal which saw Kano Titans defeat Kano KeĜ Ponys to clinch the Governor’s Cup. KeĜ got the ęrst goal through Santiago Marambio but Marcelo Pasqual replied twice for Titans to put the Tajudeen Dantata’s boys in the front seat till the

end of clash.

In the crowded ęrst phase of the tourney that piĴed teams from Kano, Ibadan and a baĴery of Lagos teams thrilled for six days intense contests and at the end, it was Kola Karim’s Shoreline that defeated Bode Makanjuela’s Lagos Caverton 9-8 to emerge champions of the Open Cup. Karim’s Shoreline had earlier defeated Prince Esiri’s Ashbert Raiders 7-4 to win the Oba of Lagos Cup.The match which was also a semięnal of the Open Cup saw Santiago “Chino” de Estrada puĴing up a star-man display by scoring four of Shoreline goals and seĴing up two others. Tunde and Kola Karim were also in the spotlight by playing one of their best games on recent years. The ageless Prince Albert Esiri who has won all there is to be won on this legendary Ribadu Road baĴle ground, and Habib Fasinro also put up courageous performance for Ashbert but the eĜciency of their opponents proved to be the diěerence.

The ęrst stage of the event was all Lagos aěair as Lagos Sao Polo upstaged STL 5-4 1/2 to win the low-goal Dansa Cup, a feat that set the stage for a Lagos clean sweep of all four major titles as the international ęesta heads for its second stage and grand ęnale.

Visiting Ibadan Megamound led by their captain Koyin Owoeye won the Dansa Cup subsidiary crown, just Lagos Ark Polo were the proud winners in the closely fought Open Cup Subsidiary ęnals of the prestigious tournament sponsored mainly by MTN Communication.

The Lagos international ęesta which climax with fanfare , was loaded with plenty of oě the ęeld entertainments.

Various DJs entertained guest on a daily basis, there was fashion shows and lots of Nigerian artists led by Olamide ensure that the international polo extravaganza was truly grand.

Mahra Wins Polo Masters Cup in Dubai

M

ahra team is the ęrst champion of the Polo Masters Cup after defeating Edrees by 7-3 in the ęnal held yesterday at the Al Habtoor Polo Resort and Club in Dubai. Patron Rashid Al Habtoor’s team won the ęrst edition of this tournament, up to 14 goals handicap and with six teams taking part, held and the new Al Habtoor Polo and Resort Club.

The team made by Rashid Al Habtoor, Daniel Gariador, Pelayo Berazadi and Alejandro Novillo Astrada took a deserved victory against the Edrees team that never gave up but couldn’t stop the great performance by Mahra.

From the second chukka till the end Mahra controlled the game and achieved to increase the gap in the score for a comfortable ęnal victory by 7-3. Daniel Gariador was the MVP of the ęnal and mare “Gàndola” played by Juan RuÇz Guiñazú was the Best Playing Pony.

Mohammed Al Habtoor, Vice Chairman of the Al Habtoor Polo Resort and Club, recently launched the Polo Masters Cup, a new medium goal tournament, with the ęrst event welcoming seven teams: Bin Drai Polo, UAE Polo, Edrees Polo, Habtoor Polo, Mahra Polo, Wolves Polo and Zedan Polo.

Earlier, Zedan became the champions of The McLaren Cup after defeating Bin Drai Polo in the Final by 10 goals to 9. The ęrst trophy of the Dubai Polo Gold Cup Series came to an end after an exciting day of polo at the Dubai Polo & Equestrian Club.

The Five chukkas of full-on action began with a strong oěensive from Bin Drai Polo, who took an early lead of 3-0, catching Zedan oě-guard. A quick reaction by Pablo MacDonough, who led Zedan scoring eight consecutive goals out of the 10 on the ęnal scoreboard, put Zedan in the lead.

Zedan maintained this lead from the second chukka, through to the end.

Top goal scorer for the tournament MacDonough, was named Most Valuable Player having notched up a total of 27 goals. His mare Paloma was awarded Best Playing Pony.

46

NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

SPORTS UPDATE

CAF re-schedules Chiefs, Moroni match for today

T

he second leg of the CAF Champions League ęxture between Kaizer Chiefs and Volcan de Moroni scheduled for yesterday has been moved to Sunday, 28 February 2016 at 14:00.

The decision follows lengthy discussions between Kaizer Chiefs, SAFA and CAF after the team from the Comoros failed to arrive in Durban as expected on Friday or Saturday morning for the 19:30 ęxture.

“This is not ideal for the Club, but we agreed to the postponement in the spirit of football and out of respect for the fans who bought their tickets and travelled for this ęxture,” says Vina Maphosa, Kaizer Chiefs’ communications manager.

Tickets that have been purchased can be used today and those who cannot aĴend the match can collect a refund at their nearest Comp ticket outlet. The match will not be televised.

Tickets are still available at Comp ticket at R60 and football fans are urged to buy their tickets and support the team.

Nigeria U23 team call-up thrills Olayinka

G

ent striker Peter Olayinka has welcomed his invitation

by Nigeria to play for U23 Olympic team, saying he is delighted now that he passed on a

chance to play international football with Albania.

Olayinka is one of 21 foreign pros called up by Nigeria’s Olympic team for a friendly against Rio Olympics

Egypt fire Eagles warning, beat B/Faso 2-0

E

gypt concluded their preparation for their upcoming Africa Cup of Nations 2017 qualifying clash with Nigeria with a 2-0 friendly win over a localbased Burkina Faso side at Alexandria’s Borg El-Arab stadium on Saturday.

Two goals from Ahly playmaker Abdallah El-Said either side of the interval gave Egypt - who were also without their foreign-based players - their second friendly win in a row, following a 2-0 victory over Libya last month.

Egypt, who haven’t reached the Africa Cup of Nations since last winning the title in 2010, travel to Nigeria on 25 March before hosting the West Africans ęve days later.

The Pharaohs are currently top of their Group G on six points, two ahead of rivals Nigeria who lie second.

The ęrst half kicked oě with Egypt in control as expected, and after having a penalty appeal turned down by the referee, it was El-Said who

The Pharaohs after the match

put them in front in the 23rd minute.

Mostafa Fathi released Hossam Ghaly down the right before the laĴer’s cross eventually found El-Said, who ęred home from inside the area.

Cuper then made three half-time changes, introducing Nour El-Sayed, Hamada Tolba and Amr Gamal instead of Ghaly, Sabri Rahil and striker Marwan Mohsen respectively.

It didn’t take striker Gamal long to pose a threat on goal, having seen a shot go wide of the left post at 52 minutes.

But the Ahly hitman’s main contribution came minutes later when he was brought down inside the area as the referee pointed to the spot.

El-Said then converted the penalty successfully for his second goal of the night, giving Egypt an easy 2-0 win over an opponent who hadn’t troubled them much throughout the game.

hosts Brazil next month.

And the 20-year-old lanky striker said his patience to wait for his chance with Nigeria has begun to reap dividends.

“I feel so excited to get a call up to play for Nigeria U23 national team,” he celebrated.

“I know I will get chance with Nigeria and I am happy I didn’t regret my decision not to play for Albania national team when I had the chance.”

Olayinka added: “I will put in my best to show that I am equal to the task. I will do my best to show that I justify the invitation. I will give 100%.”

Hayatou

Egypt ‘re beatable-Oliseh insists

S

even-time African champions Egypt are beatable because they are not as good as they were four years ago, according to former Nigeria coach Sunday Oliseh.

Oliseh quit as Eagles coach on Thursday after claiming several

Oliseh

contractual breaches by the Nigeria Football Federation (NFF).

Nigeria will welcome the Pharaohs to Kaduna on March 25 in the ęrst leg of an AFCON qualifying double header.

Oliseh quit a month to this allimportant, but he has restated his belief Nigeria could triumph to get their AFCON qualifying campaign back on track.

“Egypt are not as good as they were four years ago, we can beat them,” he maintained on a radio interview Saturday morning.

He reserved his comments on the coaches who have been appointed to replace him ahead of the matches next month.

“It doesn’t maĴer who is there, what maĴers is that Nigeria advance,” he said when asked about the Samson Siasia-led coaching crew named to lead the Eagles against Egypt.

47

NEWSWATCH TIMES SUNDAY, FEBRUARY 28, 2016

SPORTS UPDATE

2OLVHK·V DFWLRQ RQO\ FRQÀUPV our fears – Chris Green

T

he chairman of the Technical and Development CommiĴee has revealed that the decision of the 41-year-old to jump ship only conęrmed his fears about his lack of commitment Christopher Green, chairman of the NFF Technical and Development CommiĴee, has told Goal that the manner of the resignation of Super Eagles head coach Sunday Oliseh vindicated the alarm raised by the commiĴee regarding the team’s preparation for the forthcoming qualięer against Egypt.

Green and members of the technical commiĴee were in constant running baĴle with Oliseh when he was in charge of the senior national team and at a time all of them volunteered to resign after the coach vehemently rejected to work with the commiĴee stating that it was not included in his contract with the NFF. In a chat with Goal, Green disclosed that it was never in the agenda of the NFF to sack Oliseh despite his Ěagrant abuse of his position as head coach and his vituperations at his employers and Nigerians and that having begged for forgiveness after his YouTube rant, the NFF wanted him to concentrate on

the Africa Cup of Nations qualięer without distractions.

He said he was surprised to read in the media that Oliseh had resigned without recourse to the key double header with Egypt next month and that what the Technical CommiĴee did to hand over the team to Samson Siasia, Salisu Yusuf and Emmanuel Amuneke and Alloy Agu was in the best interest of the Eagles and the build up to the game.

Green called on Nigerians to support the new appointments in the Eagles and that the most important issue now is to ensure that Nigeria does not miss the 2017 Afcon just like the 2015 edition.

“I want to say that we have been vindicated by the action taken by Oliseh,” Green told Goal.

“The NFF never had it in mind to sack him despite his action towards the Federation and Nigerians. We wanted our preparation for the two games with Egypt to be hitch-free but since he has decided to do it this way, we wish him the best and we have appointed Siasia, Salisu Yusuf, Emmanuel Amuneke and Alloy Agu to ensure that there is no vacuum ahead of the AFCON qualięer.

...Carl Ikeme, Emenike pay tributes to him

N

igeria goalkeeper Carl Ikeme has expressed his appreciation to former Super Eagles coach Sunday Oliseh for giving him the chance to play for the country.

However, the Wolvehampton Wanderers ęrst-choice goalkeeper said he is disappointed to see the former Ajax player quit his post on Thursday.

“Sad to see Sunday Oliseh resign. Would like to thank him for all his eěorts and giving me the opportunity to represent the Super Eagles,” Ikeme tweeted.

England-born Ikeme, 29, made his Eagles debut in September in Tanzania, where he kept a clean sheet.

He has since established himself as Nigeria top-choice goalkeeper after Lille shot stopper Vincent Enyeama retired from international football.

Meanwhile, West Ham striker, Emmanuel Emenike, has paid tribute to Sunday Oliseh following his resignation as Super Eagles coach on Friday morning.

Emenike quit the Super Eagles last October after reports emerged that he won’t be invited for the World Cup qualięers with Swaziland because of his goal drought.

“Coach you have done well and tried your best, wish you good luck anytime and any day. God bless,” allnigeriasoccer.com quoted the on loan Fenerbahce striker as saying on his TwiĴer handle.

Shooting Stars players in celebration mood

Shooting Star Jimoh hat-trick sinks MFM

F

ormer Nigeria U20 international Wasiu Jimoh ęred a ęrst-half hat-trick for Shooting Stars to dump league leaders MFM FC 3-0 in Ibadan on Saturday.

It was Shooting Stars ęrst points of the new season.

Jimoh found target in the fourth, 19th and 36th minutes for Shooting Stars to record a convincing home win and MFM’s ęrst loss on their debut in the top Ěight.

MFM goalkeeper James Aiyeyemi will take the blame for the ęrst two goals particularly the opening goal when his howler gifted Jimoh.

In the sixth minute, Sikiru Olatunbosun failed to level scores for MFM from an Ifeanyi Ifeanyi pass.

Four minutes later, skipper Seun Akinyemi failed to double 3SC lead as he volleyed over the goal post oě Tope Orelope’s corner kick.

MFM striker Musa Newman will then miss a one-on-one as Shooting Stars goalkeeper Emmanuel Fabiyi saved.

“We could have won by a bigger margin because we failed to convert three other chances in this game,” said Shooting Stars coach Kadiri Ikhana.

EPL RESULTS

West Ham United Leicester City Southampton Stoke City Watford WBA

1-0 1-0 1-2 2-1 0-0 3-2

Sunderland Norwich City Chelsea Aston Villa AFC Bournemouth Crystal Palace

Ajiboye

Dele Ajiboye eyes third straight clean sheet

E

x-Nigeria youth international Dele Ajiboye has told AfricanFootball.com he is looking forward to another clean sheet and a result for Warri Wolves at Plateau United ęxture today.

Ajiboye has not let in any goal in the ęrst two league games for Warri Wolves, goalless at Heartland and a 1-0 win at home against Kano Pillars.

Ajiboye, who has manned post for Nigeria U17, U20 and U23 teams, said Wolves are poised for a good outing in Jos. “We are not looking down on Plateau United, it won’t be an easy game but my target is not to concede goal to help my team get a favourable result. I will put in my best,” Ajiboye told AfricanFootball.com

Mikel in top form for Egypt

M

ikel Obi gave a solid display as late goals from Cesc Fabregas and Branislav Ivanovic helped Chelsea complete an impressive turnaround victory away at Southampton in the Premier League on Saturday.

Mikel’s recent form, according to football pundits is a good development as Nigeria begin her build up to the all important African Nations Cup qualięer against Egypt next month.

The Blues trailed to Shane Long’s ęrsthalf opener on the South Coast, but they baĴled back valiantly to secure a 2-1 triumph at St Mary’s Stadium – the ęrst time they have overturned a deęcit to win a league game all season.

Ikpeme

Southampton’s push for a top-ęve ęnish takes a big blow as a result of the de-

feat, while Chelsea – now with just the one defeat in 15 since Guus Hiddink took charge – are within one point of the top half.

The visitors were forced into making the top Ěight’s earliest substitution of the season when Pedro limped oě to be replaced by Oscar seven minutes in, but there was a bigger setback to come later in the half.

A tame opening 45 minutes only sparked into life midway through thanks to a string of openings for both sides – full debutant Charlie Austin ęring narrowly wide with arguably the best of the chances.

Diego Costa could only pick out the stands when aěorded some rare space to get away a shot of his own, but the Blues’ only on-target shot of the half came courtesy of substitute Oscar on the half-hour mark.

Newswatch Times -Tradition built on Truth

www.mynewswatchtimesng.com

Vol. 2 No. 8

SUNDAY

February 28, 2016

LAST WORD

...with

N200

PAT UTOMI dinachi2005@yahoo.com

It’s on record SMALLEST MOTORCYCLE Tom Wiberg (Sweden) built a motorcycle with a front wheel diameter of 16 mm (0.62 in) and a rear wheel diameter of 22 mm (0.86 in), and rode it for more than 10 m (32.8 ft) in Hökerum, Sweden in 2003.

The micro machine has a wheelbase of 80 mm (3.14 in), a seat height of 65 mm (2.55 in), weighs 1.1 kg (2.4 lb) and is powered to a top speed of 2 km/h (1.24 mph) by its 0.22 kW (0.3 hp) engine.

Current economic crisis and Nigeria’s knowing-doing gap

W

hen anxieties with the state of the economy rose, as Oil prices went south in 2015, I was struck by how we went from worry to panic and how many actions failed to recognize similar experience from our recent history and more than enough knowledge on what happened before and what was trending in the global environment. That such knowledge was untapped caused me to begin to rethink many things.

How does Nigeria always manage to lose institutional memory, and what is responsible for the Knowing-Doing gap that seems to prevent us from properly handling routine problems without generating crisis of earthshaking proportions?

Surely we do not need Harvard Business School Professors Jeěrey Pfeěer and Robert I SuĴon to see that there is a huge Knowing Doing gap in the policy arena in Nigeria. Pfeěer and SuĴon had in year 2000 wondered how come so many ęrms show signięcant gaps between what they know and what they actually do. You can see this applies to governments the moment you go to the many talk shops of Nigeria and from there cast a glance at the policy action arena.

When at one of these events recently someone reminded me of another one a few months before when it seemed a vow to defend the Naira was being taken. He reminded me that I had said pressure on the Naira, with a signięcant dollar earnings dip, was not the end of the world but that a Ěoating “managed” exchange rate mechanism Bismark Rewane had talked about was appropriate response and also that in addition a clear game plan on how the ęnancing from declining Oil receipts, could be bridged to tide over a temporary challenge by

quick borrowing of dollars to shore up supply with other measures to block leakages could boost conędence.

I suggested teams of people credible in economic and ęnancial circles; head oě to critical global capitals to show where we were going.

I was convinced that would have stimulated conędence in Nigeria at a time the gap between the nominal exchange rate and our purchasing power parity line was no more than six Naira, as Bismark

How does Nigeria always manage to lose institutional memory, and what is responsible for the KnowingDoing gap that seems to prevent us from properly handling routine problems without generating crisis of earthshaking proportions?

base of the economy and the tactics to hold oě raiders of the currency by inspiring conędence based on plans for the future, we slipped into this spurious discussion of symptom called devaluation of the Naira.

I never could understand why knowledge from 1983-85, in Nigeria, and the Asian ęnancial crisis, failed to inform the passions spewing out or the subject from people with access to people who could beĴer inform them. How about our national institutions that went through similar experiences with external shocks and managing access to Foreign Exchange in the past? Why did they behave as if they had learnt nothing before?

One of the truly enduring explanations of how Nigeria went into de-industrialization from the 1980s, even before becoming fully industrialized is a comparison of nominal exchange rate divergence from purchasing power parity.

A review will show that the regions of the world where nominal exchange rates and the Purchasing Power Parity line were a close ęt had more growth and prosperity. Between Africa, Latin America and Asia in the 1980 and 1970s, South East Asia was that zone.

What I found even more paradoxical was that those who favour state centrals to drive development and therefore should embrace some of the postulates of the South Korean Economist at Oxford Ja Joo Chang are signing oě on the European Union/ ECOWAS Economic Partnership Agreement (EPA). This is quite curious.

Let’s hope enlightenment descends upon us all.

Rewane pointed out.

Had the teams out there telling the world about the new thrust of policy and growth potential in which decline in contribution of dollars from a sector contributing to a small portion of GDP was causing tightness, investment Ěows will make up for Foreign exchange supply lost, just as a liĴle borrowing could bridge the ęnancing gap and stave oě currency speculations.

It seems to me that instead of focusing on a clear strategy of short, medium and Ȋ ȱ ȱ ȱ long term perspective Economist and Professor of plan anchored Entrepreneurship is founder of diversięcation of the the CVL.

FACTS FILE Human food production will need to increase 70% by 2050 to meet rising demand, and Africa is home to more than half of the world’s unused arable land.

Aminu Kano was born into the family of an Islamic scholar, Mallam Yusuf of the scholarly Gyanawa fulani clan. He attended Katsina College and later went to the Institute of Education, alongside Sir Abubakar Tafawa Balewa.

The grass at Wimbledon was kept two inches long until 1949 when an English player was bitten by a snake.

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