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3
SUNDAY NEWSWATCH, AUGUST 10, 2014
National
NEWS
forgery: NBA to probe Weâ&#x20AC;&#x2122;ll provide robust capitalisation Alleged 3 members, 2 SANs inclusive to investors â&#x20AC;&#x201C;NBET Director T ...assures Nigerians of stable electricity supply Adewale Giwa, Washington, DC
M
anaging Director of Nigerian Bulk Electricity Trading (NBET), Mr. Rumundaka Wonodi yesterday assured Nigerians [\] ^_`^b[] ^9^b[hj^] p^qhj^vw] \x] electricity supply as he says the \v|}~h }[h\~] h ] ~\Â&#x20AC;] Â }jh~|] }] robust capitalization of $8000 Â&#x2021;hqqh\~][Â }[]Â&#x20AC;hqq]`v\jhp^]b\Â&#x2021;x\v[] [\][Â ^]h~j^ [\v Â&#x2C6; \~\phÂ&#x2030;] Â&#x20AC;Â \] |}j^] [Â ^] assurance while speaking with Sunday Newswatch in Washington, DC yesterday }hp] [Â ^] ^p^v}q] \j^v~Â&#x2021;^~[] had addressed the issues of redundancy in gas transmission facilities and cable transmission. Â h ] p^j^q\`Â&#x2021;^~[Â&#x2030;] }bb\vph~|] to him will boost electricity to consumers as soon as possible. He described the current
^q^b[vhbh[w] Â&#x17D;``qw] }~p] p^qhj^vw] challenges as worrisome but saying, â&#x20AC;&#x153; Currently, the electricity industry is facing Â&#x17D;``qw] }~p] p^qhj^vw] b }qq^~|^ Â&#x2C6;] But, the good thing is that the ^p^v}q] \j^v~Â&#x2021;^~[]  } ] ^[] up a platform that will tackle the problem. It is a credit to President Goodluck Jonathanâ&#x20AC;&#x2122;s administration that the reform he has started is beginning to yield result. Â&#x2022; \Â&#x2030;] w\Â&#x17D;]  }j^] [\] |^[] [ ^] ground, plant the seed. Now, the seed is germinating gradually }~p] j^vw] \\~Â&#x2030;] Â&#x20AC;^] Â&#x20AC;hqq] |\] h~[\] the market and sell the fruits. The platform already put in place Â&#x2013;w] [ ^] ^p^v}q] \j^v~Â&#x2021;^~[] is ready for changes. We just came in as a new organisation; we came in as part of a reform `v\b^ Â&#x2C6;] h| [] ~\Â&#x20AC;Â&#x2030;] Â&#x20AC;^]  }j^] capitalisation of $800 million and [ }[]h ] h|~hÂ&#x2122;b}~[Â&#x2C6;] ^] }j^]}]j^vw]
strong board with competent workers around the Bulk v}p^vÂ&#x2C6;]  ^] b }qq^~|^] Â&#x20AC;^]  }j^] now is coming into the marker, \`^v}[h~|] ph9^v^~[] b\~[v}b[ ] }~p]  ^q`h~|] Â&#x2021;\j^] [ ^] Â&#x2021;}vÂ&#x161;^[] Â&#x17D;`\~] Â&#x20AC; ^v^] Â&#x2021;\v^] h~j^ [\v ] are comfortable to enter into contracts that are well structured and managed in a manner that precludes recourse to any credit guarantee instrument. Â&#x2022; ^]  }j^] \Â&#x2021;^] b\~[v}b[ ] in place and we are ready to }b[hj}[^] [ ^Â&#x2021;Â&#x2C6;]  ^] \~^] x}b[] [ }[] is holding up things is the fact that the distribution companies are required to post a bank |Â&#x17D;}v}~[^^]\v]}]q^K^v]\x]bv^ph[]h~] support of their obligations in the j^ [h~|]b\~[v}b[Â&#x2C6;]  ^v^]Â&#x20AC;^]}v^]h ] that the distribution companies continue to make the argument that if they are unable to generate ^~\Â&#x17D;| ] v^j^~Â&#x17D;^Â&#x2030;] Â&#x2013;} ^p] \~] [ ^] supply of power, then they
might not be in a position to meet their obligations to the bulk trader. And therefore, the banks may be unwilling [\] `v\jhp^] [Â ^] |Â&#x17D;}v}~[^^Â&#x2C6;] \Â&#x2030;] Â&#x20AC;^][Â h~Â&#x161;][Â }[]Â&#x20AC;h[Â ]}]qhKq^]Â&#x2021;\v^] power in the system now that [Â ^] |} ] `h`^qh~^ ] Â }j^] Â&#x2013;^^~] v^`}hv^pÂ&#x2030;][Â ^w]Â&#x20AC;hqq]v^b^hj^]Â&#x2021;\v^] energy which will allow them [\] |^~^v}[^] Â&#x2021;\v^] v^j^~Â&#x17D;^Â&#x2C6;] \Â&#x2030;] they might begin to feel more comfortable to do what is expected.â&#x20AC;?
^] `^bhÂ&#x2122;b}qqw] }``^}q^p] [\] Nigerians to be patience with the organisation, otherwise known as Bulk Trader. Â&#x2022; ^]Â }j^]Â&#x2013;^^~]Â ^v^]x\v]}]q\~|] time. Now that the platform is in place, the train is now Â&#x2021;\jh~|] x\vÂ&#x20AC;}vpÂ&#x;] [] [}Â&#x161;^ ] }] while to build a power plant. So, [Â ^] |\j^v~Â&#x2021;^~[] Â } ] `vhj}[h ^p] }~p]j^vw]~^Â&#x20AC;]\Â&#x20AC;~^v ]Â&#x20AC;hqq]Â&#x2013;^|h~] [\]Â&#x2021;}Â&#x161;^]h~j^ [Â&#x2021;^~[Â Â&#x2030;]Â&#x2C6;Â ^] [}[^pÂ&#x2C6;
Front row: Representative of the Vice President, Gen. Aliyu Gusau (rtd.) fourth left; Commandant, National Defence &122343 5'& 6378 $9<=872 >7?8=@B $4E1218 HI?E 23I? J38K=@3 &E=3IL 9=4M=?78=3L 7M9 4879O7M9L 7? ?E3 4879O7?=1M of Course 22 of NDC in Abuja... recently.
Conoil announces N2.78bn dividend pay-out
T
he Board of Directors of Conoil Plc, a front line oil marketing company has recommended total phjhp^~p] `}wÂ&#x2021;^~[] \x] ÂĄÂ&#x2C6;¢£] Â&#x2013;hqqh\~]x\v]h[ ]¥¤¼Œ]Â&#x2122;~}~bh}q]w^}v] }[] §Â&#x2C6;¤¤]x\v]^j^vw]¨¤Â&#x161;\Â&#x2013;\]  }v^Â&#x2C6;] To this end shareholders of the company are set to reap Â&#x2013;\Â&#x17D;~[hxÂ&#x17D;q] phjhp^~p]  }vj^ [] \~] [ ^hv] h~j^ [Â&#x2021;^~[] ^j^~] } ] [ ^] phjhp^~p] `}wÂ&#x2021;^~[] h ] ^_`^b[^p] [\]Â&#x2013;^]v}[hÂ&#x2122;^p]Â&#x2013;w]h[ ]  }v^ \qp^v ] at the annual general meeting of the company to be held later in September. The Return on Equity to shareholders represents a Â&#x20AC; \``h~|] Œ¤¤] `^vb^~[] h~bv^} ^] \j^v][ ^] ÂĽ]`}hp]h~]¥¤¼¥Â&#x2C6; The Company, in a Press statement, said the bumper phjhp^~p] } ]}|}h~]Â&#x17D;~p^v b\v^p] the companyâ&#x20AC;&#x2122;s reputation of p^qhj^vh~|] h~bv^} h~|] v^[Â&#x17D;v~ ] \~] h~j^ [Â&#x2021;^~[]x\v]h[ ]  }v^ \qp^v Â&#x2C6; Predictably, the news of the hÂ&#x2021;`v^ hj^] phjhp^~p] `}wÂ&#x2021;^~[] has triggered a swoop on Conoilâ&#x20AC;&#x2122;s stocks with the companyâ&#x20AC;&#x2122;s stock garnering the highest price gain
for the week. The Chairman of Conoil Plc, Dr Mike Adenuga, while `v^jh^Â&#x20AC;h~|] [ ^] b\Â&#x2021;`}~wŠ ] `^vx\vÂ&#x2021;}~b^] x\v] ¥¤¼Œ] }[] h[ ] §Œvp] }~~Â&#x17D;}q] |^~^v}q] Â&#x2021;^^[h~|Â&#x2030;] assured shareholders that the b\Â&#x2021;`}~w] v^Â&#x2021;}h~^p] b\Â&#x2021;Â&#x2021;hK^p] to growing its business in order to maintain its leadership
position in the downstream petroleum sector. â&#x20AC;&#x153;While we are certainly not immune to the challenges the downstream petroleum sector is expected to face in the coming year as a result of nonregulation of the sector, let me assure you that your company is Â&#x2013;^K^v] `\ h[h\~^p] [\] Â&#x20AC;^}[Â ^v] [Â ^]
stormâ&#x20AC;?, Adenuga had promised. He also reiterated that, as part of the companyâ&#x20AC;&#x2122;s strategies to Â&#x17D; [}h~] h[ ] ^~jh}Â&#x2013;q^] `\ h[h\~] h~] [Â ^] h~pÂ&#x17D; [vwÂ&#x2030;] h[] Â&#x20AC;\Â&#x17D;qp] hÂ&#x2021;`v\j^] on the quality of its products }~p] ^vjhb^ ] }~p] ^~ Â&#x17D;v^] [Â }[] its teeming customers always patronize its fuel and non-fuel products.
Declare your ambition now, or forget it, U.S group tells Jonathan Adewale Giwa, Washington, DC
A
group, known as Nigeria First Organisation (NFO) in the United States, yesterday urged President Goodluck
\~}[ }~] [\] p^bq}v^]  h ] ¥¤¼¨] ambition or he forgets it. President of the group, Mr. Franklin Ekechukwu, h~] }~] h~[^vjh^Â&#x20AC;] Â&#x20AC;h[ ] Sunday Newswatch in Washington, DC noted that the political scenario of things in Nigeria h ] |hjh~|]  ^v] bh[hÂł^~ ] h~] [ ^] Diaspora serious sleepless nights.
^] `^bhÂ&#x2122;b}qqw] b}qq^p] \~] President Jonathan to declare his interest now and put fear aside, saying he was the \~qw] }q[^v~}[hj^] [ ^] b\Â&#x17D;~[vw]  } ] ²Â&#x17D; [] } ] [ ^] ¥¤¼¨] |^~^v}q] election approaches. His Words,â&#x20AC;? Let me use this medium to urge President Goodluck Jonathan to declare  h ] ¥¤¼¨] `v^ hp^~[h}q] h~[^v^ [] now rather than delaying it. The delay is dangerous to the present political situation \x][ ^]b\Â&#x17D;~[vwÂ&#x2C6;] ]}]Â&#x2021;}K^v]\x] x}b[Â&#x2030;] ^]h ][ ^]\~qw]}q[^v~}[hj^] [ ^] b\Â&#x17D;~[vw]  } ] ~\Â&#x20AC;Â&#x2C6;] j^~] the so- called APC has not
come with its presidential candidate just six months to the election and that tells you they donâ&#x20AC;&#x2122; t mean business.â&#x20AC;? On Boko Haram, Franklin noted that it was designated to distract the administration of President Jonathan from implementing major things [ }[] b\Â&#x17D;qp]  }j^] Â&#x2013;v\Â&#x17D;| [] p^j^q\`Â&#x2021;^~[][\] h|^vh}~ Â&#x2C6; He pressed further that the resources that supposed to be useful for Nigerians Â&#x20AC;^v^] Â&#x2013;^h~|] `^~[] h~] Â&#x2122;| [h~|] the Islamic militants, a p^j^q\`Â&#x2021;^~[] Â&#x20AC; hb ]  ^] described as uncalled for.
he Nigeria Bar Association (NBA) has begun a process to probe }qq^|}[h\~ ]\x]x\v|^vw]q^j^qq^p]}|}h~ [][Â v^^]\x]h[ ]Â&#x2021;^Â&#x2021;Â&#x2013;^v ]h~bqÂ&#x17D;ph~|] [Â&#x20AC;\] ^~h\v] pj\b}[^ ]\x] h|^vh}]ÂŤ ÂŹÂ&#x2C6; Â ^]\Â&#x17D;[|\h~|] v^ hp^~[]\x][Â ^] Â&#x2030;] vÂ&#x2C6;] Â&#x161;^w] }qh]ÂŤ ÂŹÂ&#x2030;]b\~Â&#x2122;vÂ&#x2021;^p][Â ^] p^j^q\`Â&#x2021;^~[]}[][Â ^]Â&#x20AC;^^Â&#x161;^~pÂ&#x2C6; ] ^] }bÂ&#x161;~\Â&#x20AC;q^p|^p] [Â }[] [Â ^] ] Â }p] v^b^hj^p] }] `^[h[h\~] xv\Â&#x2021;] vÂ&#x2C6;]
\ ~] }} [vÂ&#x17D;`Â&#x2030;] [ ^] Â&#x2122;v [] \~] \x] }~] q^ }Â&#x2030;] Â&#x17D;~ [}[^] Â&#x2013;\v~] h~pÂ&#x17D; [vh}qh [] and philanthropist, the late Captain Israel Ademola Gbadebo Haastrup, accusing three lawyers, among whom are two SANs, of ganging up to forge crucial documents relating to the estate of his father, so as to defraud the Haastrup family. The concerned lawyers are a London-based legal practitioner and Haastrup family lawyer for almost three decades, Mr. Oluseyi Oladejo Lamikanra (SAN), a prominent member of the inner Bar, Prof. Awa Kalu (SAN) and the wife to the late industrialist, Mrs. Gloria Haastrup, all enrolled as solicitors of the Supreme Court of Nigeria. ~] h ]v^}b[h\~]w^ [^vp}wÂ&#x2030;] }qh] }hpÂą]Â&#x2022; ^ Â&#x2030;]Â&#x20AC;^] }j^]v^b^hj^p][ ^]`^[h[h\~] }~p]~^b^ }vw]h~j^ [h|}[h\~ ]Â&#x20AC;hqq]Â&#x2013;^]b\~pÂ&#x17D;b[^p]h~]qh~^]Â&#x20AC;h[ ][ ^]pÂ&#x17D;^]`v\b^ ] of the NBA.â&#x20AC;? He said though one of the SANs so accused, Kalu, is the chairman of [ ^] Â&#x2013;Â&#x17D;²}]Âł\~^]\x] Š ] h bh`qh~}vw] \Â&#x2021;Â&#x2021;hK^^Â&#x2030;][ ^]Â&#x2013;\pw]\x] }v]Â&#x20AC;\Â&#x17D;qp] [v}~ x^v][ ^]b} ^][\]}~\[ ^v]ph bh`qh~}vw]b\Â&#x2021;Â&#x2021;hK^^]} ][ ^] ]b}~]Â&#x2013;\} []\x] Â&#x2021;}~w]\x] Â&#x17D;b ]b\Â&#x2021;Â&#x2021;hK^^ Â&#x2C6; He promised that the NBA would look into its merit and apply appropriate sanction should the allegation be established against them. But the trio of Lamikanra, Kalu and Ngozi are kicking ahead of the b\~j\b}[h\~]\x][ ^]b\Â&#x2021;Â&#x2021;hK^^][\]h~j^ [h|}[^][ ^]}qq^|}[h\~ Â&#x2C6;]  ^w]  }j^] ^`}v}[^qw] ph Â&#x2021;h ^p] \ ~Š ] }qq^|}[h\~] } ] x}q ^Â&#x2030;] Â&#x20AC;hbÂ&#x161;^pÂ&#x2030;] scandalous and actionable, saying they would not only appear before the ] b\Â&#x2021;Â&#x2021;hK^^] [\] bq^}v] [ ^hv] ~}Â&#x2021;^ ] Â&#x2013;Â&#x17D;[] Â&#x20AC;\Â&#x17D;qp] [}Â&#x161;^] }``v\`vh}[^] }b[h\~] against him at the appropriate time. ~][ ^]`^[h[h\~Â&#x2030;] \ ~]¨¤Â&#x2030;][ ^]Â&#x2122;v [] \~]}~p]Â&#x2122;v []b hqp]\x]q}[^] }} [vÂ&#x17D;`]|}j^] the background of the petition to the NBA thus: â&#x20AC;&#x153;It all started around March ¥¤¼¤]Â&#x20AC; ^~] ] Â&#x161;\vh^Â&#x2030;]Â&#x20AC; \] }p]Â&#x2013;^^~]phj\vb^p]Â&#x2013;w]Â&#x2021;w]q}[^]x}[ ^v]h~]¥¤¤¢Â&#x2030;] `q\K^p]Â&#x20AC;h[ ]Â&#x2021;w]x}[ ^vŠ ]q}Â&#x20AC;w^vÂ&#x2030;] vÂ&#x2C6;] }Â&#x2021;hÂ&#x161;}~v}Â&#x2030;][\]Â&#x161;hp~}`]Â&#x2021;w]x}[ ^v]xv\Â&#x2021;] \Â&#x17D;v] \Â&#x17D; ^]\~]¼¨¢Â&#x2030;] }vq }Â&#x2021;] v\j^Â&#x2030;] \~p\~] ¢]Âľ Â&#x2030;][\]}] ^bv^[]q\b}[h\~Â&#x2030; ] pÂ&#x17D;vh~|]Â&#x20AC; hb ] vÂ&#x2C6;] Â&#x20AC;}] }qÂ&#x17D;]Â&#x2022;b}Â&#x2021;^]Â&#x17D;`]Â&#x20AC;h[ ]}]q^K^v]\x]h~ [vÂ&#x17D;b[h\~] h|~^p]Â&#x2013;w] Â&#x2021;w]q}[^]x}[ ^vÂ&#x2030;]Â&#x20AC; \]Â&#x20AC;} ] Â&#x17D;9^vh~|]xv\Â&#x2021;]p^Â&#x2021;^~[h}Â&#x2030;]}~p]Â&#x20AC;} ]h~][ ^]bÂ&#x17D; [\pw]\x] Mr. Lamikanra and Ms Okorie (Ngozi) in an unknown location. ]Â&#x2022;  ^]q^K^v]}``}v^~[qw]h~ [vÂ&#x17D;b[^p] vÂ&#x2C6;] Â&#x20AC;}] }qÂ&#x17D;][\]}b[]\~]Â&#x2013;^ }qx]\x]Â&#x2021;w] father , the same capacity that Mr. Lamikanra purported to be acting,â&#x20AC;? }pph~|][ }[]Â&#x2022;h[]Â&#x20AC;} ] \Â&#x20AC;^j^v]\Â&#x2013;jh\Â&#x17D; ][ }[] vÂ&#x2C6;] }qÂ&#x17D;]Â&#x20AC;} ]}b[h~|]h~]b\~b^v[] at all material times with Mr. Lamikanra and Ms Okorie (Ngozi) to mislead }~p]p^xv}Â&#x17D;p]Â&#x2021;w]q}[^]x}[ ^vÂ&#x2C6;] \v^\j^vÂ&#x2030;] vÂ&#x2C6;] }qÂ&#x17D;]x}hq^p][\]bq}vhxw] \Â&#x20AC;] ^] obtained his instructions from a man whom the British police could not q\b}[^]}~p]Â&#x20AC; \]Â&#x20AC;} ] Â&#x17D;9^vh~|]xv\Â&#x2021;]p^Â&#x2021;^~[h}Â&#x2C6;] ^]}q \]x}hq^p][\]`v\pÂ&#x17D;b^]}] board resolution for his appointment,â&#x20AC;? he said. ] \ ~Â&#x2030;]h~] h ]¼¨Â`\h~[]`^[h[h\~][\][ ^] Â&#x2030;]Â&#x20AC;\~p^v^p]Â&#x20AC; w] h ]x}[ ^v]Â&#x20AC;\Â&#x17D;qp] instruct Prof. Kalu as his lawyer when Mr. Lamikanra still remained the family lawyer. ] ^] |}j^] p^[}hq ] \x] }] ~Â&#x17D;Â&#x2021;Â&#x2013;^v] \x] q^K^v ] }qÂ&#x17D;] Â&#x20AC;v\[^] [\] h~phjhpÂ&#x17D;}q ] } ] purported lawyer of the late Haastrup and the cases in which Kalu appeared either as expert witness or as â&#x20AC;&#x153;lead counsel for Ms Gloria Ngozi Â&#x161;\vh^]ÂŤ^_ v Â&#x2C6;] }} [vÂ&#x17D;`ÂŹ]h~] Â&#x17D;h[]~\Âą] ]œ¥¾¡¢œ¥¤¼¤Â&#x2030; ]}]b} ^]Â&#x2013;v\Â&#x17D;| []Â&#x2013;w] Prince Kwesi Gabriel Haastrup to challenge the imposition of Mr. Oladejo Lamikanra as a Director of Eastern Bulkcem Co. For instance, he alleged that Prof. Kalu (SAN) instructed Mr. Akin ²Â&#x17D;Â&#x2021;\v\]h~]}]q^K^v]Â&#x2022;[\]`}w]Â&#x2021;\~^w][\]}]Â&#x2013;}~Â&#x161;]}bb\Â&#x17D;~[]b\~[v\qq^p]Â&#x2013;w] vÂ&#x2C6;] }Â&#x2021;hÂ&#x161;}~v}]}~p] ] Â&#x161;\vh^]} ]Â&#x2021;w]x}[ ^v]php]~\[] }j^]b}`}bh[w][\]|hj^] Â&#x17D;b ] instruction as claimed by Mr. Kalu at that stage of my fatherâ&#x20AC;&#x2122;s life. ]Â&#x2022; qq][ ^]Â&#x2021;\~^w]`v^ Â&#x17D;Â&#x2021;}Â&#x2013;qw]`}hp]h~[\] h ]Â&#x2122;vÂ&#x2021;Š ]}bb\Â&#x17D;~[]} ]`Â&#x17D;v`\v[^p] lawyer to my late father and Haastrup Line (WA) Ltd and to other accounts has since disappeared and Mr. Kalu, Ms Okorie and Mr. Lamikanra utilised [ ^]`\Â&#x20AC;^v]\x]}K\v~^w]x\v|^p]Â&#x2013;w][ ^Â&#x2021;][\] }j^] \q^]}~p]Â&#x17D;~v^ [vhb[^p]}bb^ ][\] all corporate and personal accounts belonging to my late father. ]Â&#x2022; ~]w^[]}]q^K^v][\] Âł^] }pÂ&#x17D;}Â&#x161;\Â&#x2030;] ]\x] }pÂ&#x17D;}Â&#x161;\] v}~ `\v[] [pÂ&#x2C6;Â&#x2030;]p}[^p] ¡[ ] }wÂ&#x2030;]¥¤¼¼Â&#x2030;] ^]}|}h~]bq}hÂ&#x2021;^p][\]Â&#x2013;^]}b[h~|]x\v]Â&#x2021;w]q}[^]x}[ ^v]}~p] }} [vÂ&#x17D;`] Line (WA) Ltd referring to a company which has other shareholders and directors including my humble self, as well as my late father. Since my late father was in their custody, both he and Mr. Lamikanra were busy writing to banks and companies to claim money, purportedly on the instruction of my late father. ]Â&#x2022; vÂ&#x2C6;] }qÂ&#x17D;]Â&#x20AC;} ]p^Â&#x2122;~h[^qw]~\[]}b[h~|]x\v]Â&#x2021;w]q}[^]x}[ ^v]} ] ^]ph  \~^ [qw] [}[^p]Â&#x2013;w] hÂ&#x2021;]h~][ ^]q^K^v]v^x^vv^p][\]h~]`}v}|v}` ]¼¤]}Â&#x2013;\j^]Â&#x2013;Â&#x17D;[]x\v][ ^] Â&#x2013;^~^Â&#x2122;[]\x] hÂ&#x2021; ^qx]}~p] vÂ&#x2C6;] }Â&#x2021;hÂ&#x161;}~v}]}~p] ] Â&#x161;\vh^]Â&#x20AC; \] }p]Â&#x161;hp~}``^p] my father and took control of his life and business,â&#x20AC;? John further alleged. ] Â&#x17D;[]h~]}] [}[^Â&#x2021;^~[]v^q^} ^p]\j^v][ ^]Â&#x20AC;^^Â&#x161;^~pÂ&#x2030;] }qÂ&#x17D;] }hp][ }[]b\~[v}vw][\] the allegation by John against him that he acted in concert with Lamikanra and Ngozi to defraud his father and estate, he said: â&#x20AC;&#x153;I will state for now that I did not act in concert with Mr Oladejo Oluseyi Lamikanra (SAN) who is a friend of mine and a professional colleague nor with Mrs Gloria Ngozi Haastrup for any purpose other than for professional collaboration. To the best of my knowledge, no case of fraud has been established against Dejo }Â&#x2021;hÂ&#x161;}~v}]ÂŤ ÂŹ]~\v] } ]Â&#x2021;w]}K^~[h\~]Â&#x2013;^^~]pv}Â&#x20AC;~][\]}~w] Â&#x17D;b ]xv}Â&#x17D;pÂ&#x2C6;] ] Â&#x2022;  ^] q}pw] }~p] [ ^] |^~[q^Â&#x2021;}~] ~^j^v] b\~[}b[^p] Â&#x2021;^] `Â&#x17D;v Â&#x17D;}~[] [\] }~w] scheme or fraud nor did I at any material time go beyond any instruction Â&#x20AC; hb ]Â&#x20AC;^v^]v^q}w^p][\]Â&#x2021;^]xv\Â&#x2021;]Â&#x2021;w]v^|Â&#x17D;q}v] \Â&#x17D;vb^ ]\x]Â&#x2013;vh^Â&#x2122;~|Â&#x2C6;] ~w]`^v \~] Â&#x20AC; \] [}[^ ]}~w[ h~|][\][ ^]b\~[v}vw]vÂ&#x17D;~ ][ ^]vh Â&#x161;]\x]Â&#x2013;^h~|][ ^]`Â&#x17D;vj^w\v]\x] falsehood,â&#x20AC;? he added. ] ^}b[h~|][ v\Â&#x17D;| ] h ]b\Â&#x17D;~ ^q][\\Â&#x2030;] qj\~] }vv^[Â&#x2030;] }Â&#x2021;hÂ&#x161;}~v}Â&#x2030;] Â&#x2030;] }hpÂą] Â&#x2022;  ^] [\vw]w\Â&#x17D;]v^x^vv^p][\]}~p] \Â&#x2021;^]\x]w\Â&#x17D;v]šÂ&#x17D;^ [h\~ ]}b[Â&#x17D;}qqw]p\] }j^][ ^hv] v\\[ ]h~Â&#x2030;]}~p]}v^]p^ h|~^p][\]Â&#x17D;~pÂ&#x17D;qw]h~ÂşÂ&#x17D;^~b^][ ^]\Â&#x17D;[b\Â&#x2021;^]\x][ ^]\~|\h~|] ]h~j^ [h|}[h\~ Â&#x2C6;] \Â&#x17D;]Â&#x2021;Â&#x17D; []}``v^bh}[^][ }[]h[]Â&#x20AC;hqq]Â&#x2013;^]Â&#x20AC; \qqw]h~}``v\`vh}[^] x\v]Â&#x2021;^][\]b\Â&#x2021;Â&#x2021;^~[]xÂ&#x17D;v[ ^v]Â&#x17D;~[hq][ ^]\Â&#x17D;[b\Â&#x2021;^]\x][ ^] }hp]h~j^ [h|}[h\~Â&#x2C6; ]Â&#x2022; ]  \Â&#x17D;qp]}pp][ }[] vÂ&#x2C6;] \ ~] p^Â&#x20AC;}q^] }} [vÂ&#x17D;`] } ]`v^jh\Â&#x17D; qw]`v^ ^~[^p] `^[h[h\~ ] [\] [ ^] ] }~p] [\] [ ^] Âť Â&#x2C6;]  ^] h~j^ [h|}[h\~ ] b\~bqÂ&#x17D;p^p]}~p]~\]Â&#x20AC;v\~|p\h~|]Â&#x20AC; }[ \^j^v]Â&#x20AC;} ]^ [}Â&#x2013;qh  ^pÂ&#x2C6;]  ^]bÂ&#x17D;vv^~[] allegations border on my integrity and indeed I shall respond fully at the appropriate time. â&#x20AC;&#x153;The real story is of a certain man who is hell-bent on acquiring and controlling the estate of my deceased client. He is desperate and sees me as his major obstacle. The solution: destroy him, ruin his career. Rest assured, w\Â&#x17D;]  }qq] }j^][ ^]xÂ&#x17D;qq] [\vw]}[][ ^]}``v\`vh}[^][hÂ&#x2021;^Â&#x2C6; ]
4
SUNDAY NEWSWATCH, AUGUST 10, 2014
NEWS
South
Employee seeks justice, calls for adequate compensation Uchenna Nwafor, Yenagoa
A
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Doctorsâ&#x20AC;&#x2122; strike: NMA calls on govt to be proactive ThankGod Ofoelue, Benin
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L-R: Igwe Chris Ogakwu of Udi Community; Director of Studies, Enugu State University of Science and Technology (ESUT), School of Professional and Legal Studies, Professor Gab Agu, and Chairman, ESUT, Senate Exam Malpractice Committee, Professor Alex Ndiji, at the 2nd exam ethics marshals workshop in Enugu State...recently.
Rivers to get 23 women development centres Amaka Agbu, Port Harcourt
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NYCN reiterates commitment to transform youths in Bayelsa Uchenna Nwafor, Yenagoa
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2015: Guber aspirant promises better security Godwin Akor, Makurdi
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SUNDAY NEWSWATCH, AUGUST 10, 2014
NEWS JAP charges parents Kano doctors defy suspension Polio: on immunisation of wards order, continue strike action A Baba Negedu, Kaduna
Ted Odogwu, Kano
D
espite the suspension of doctorsâ&#x20AC;&#x2122; six-week \qp] [vhÂ&#x161;^] Â&#x2013;w] [ ^] leadership of NMA, Doctors in Kano shunned [ ^] \vp^v] Â&#x2013;w] [ ^] h|^vh}~] Medical Association (NMA) q^}p^v  h`Â&#x2030;] h~ h [h~|] [ }[] [ ^w] are still on strike in Kano, as its national leadership suspended the strike, without due consultation and under duress from the Federal Government. Notwithstanding, the b\Â&#x2021;Â&#x2021;Â&#x17D;~hšÂ&#x17D;ÂżÂ&#x2030;] h Â&#x17D;^p] Â&#x2013;w] [ ^] ÂŤ ÂŹ] `v^ hp^~[Â&#x2030;] v] }w\p^] Obembe, who was alleged to
have resigned for suspension of the six weeks old strike over the spread of Ebola virus, all the striking doctors in Kano v^xÂ&#x17D; ^p][\]  h-]|v\Â&#x17D;~pÂ&#x2030;]}pph~|] that the NMA leadership are on their own. ~] }] Â&#x20AC;h-] v^}b[h\~] [\] [ ^] communique, other national ^_^bÂ&#x17D;[hj^] Â&#x2021;^Â&#x2021;Â&#x2013;^v Â&#x2030;] ²\h~[qw] issued and signed a counter press statement, upholding the strike, just as the executive members and the NMA Chairman of Kano state chapter, Dr Sharafuddeen Mashi said there is no division among the members; rather the national president is acting on his own.
Dr. Mashi told newsmen that if the association could not b}qq] \9] ] [ ^] [vhÂ&#x161;^] pÂ&#x17D;^] [\] [ ^] h~b^ }~[]}K}bÂ&#x161; ]Â&#x2013;w]h~ Â&#x17D;v|^~[ Š] which claimed about 4, 000 qhj^ ][ h ]w^}vÂ&#x2030;]h[]h ]~\[]²Â&#x17D; [hÂ&#x2122;}Â&#x2013;q^] to suspend the strike because of Ebola virus, which has claimed fewer victims. However, he explained that the association had agreed that its members from Lagos  \Â&#x17D;qp] }q \] v^~p^v] j\qÂ&#x17D;~[}vw] services for the Ebola victims as long as adequate Personal Protective Equipment (PPE) and assurance of life insurance for the Doctors and Nurses are provided. ^}b[h~|][\][ ^]p^j^q\`Â&#x2021;^~[]
h~] }~\]w^ [^vp}wÂ&#x2030;][Â ^] h~h [^v] of State for Health, Dr Harilu Al-Hassan, disclosed that the
^}q[Â ] h~h [vw] Â ^qp] ~\[] q^ ] than 12 meetings with the NMA leadership. Based on an agreement reached with the NMA leadership, Al-Hassan disclosed that the strike was b}qq^p] \9Â&#x2030;] \~qw] x\v] [Â ^] Â&#x2013;\pw] to become divided, with some for continuation of the strike, while others were opposed to it. Al-Hassan however said that the Doctorsâ&#x20AC;&#x2122; refusal to Â&#x17D;~}~hÂ&#x2021;\Â&#x17D; qw]b}qq]\9][Â ^] [vhÂ&#x161;^] h ]Â&#x2013;^w\~p][Â ^]}``v^Â ^~ h\~]\x] the Federal Government.
Non Governmental Organization (NGO), Journalists Against \qh\]ÂŤ ÂŹÂ&#x2030;]w^ [^vp}w]b}qq^p]\~] }v^~[ Âť] Â&#x17D;}vph}~ ]h~] }pÂ&#x17D;~}] state to accept the ongoing immunization exercise in the interest of their wards. ] [}[^Â&#x2021;^~[]Â&#x2013;w][ ^]|v\Â&#x17D;`]h~] }pÂ&#x17D;~}]Â&#x2021;}p^]}j}hq}Â&#x2013;q^][\]~^Â&#x20AC; Â&#x2021;^~] }hp][ ^]b}qq]]Â&#x2013;^b}Â&#x2021;^]hÂ&#x2021;`\v[}~[]^ `^bh}qqw]h~][ ^]~\~]b\Â&#x2021;`qh}~[]}v^} ][\] }qq\Â&#x20AC;][ ^hv]b hqpv^~][\]Â&#x2013;^]hÂ&#x2021;Â&#x2021;Â&#x17D;~hÂł^p][\]|Â&#x17D;hp^]}|}h~ []}~w]b hqp]Â&#x2013;^h~|] q^-]Â&#x2013;^ h~pÂ&#x2C6; ]  ^] [}[^Â&#x2021;^~[] h|~^p] Â&#x2013;w] Š ] ^}p] \x] \Â&#x2021;Â&#x2021;Â&#x17D;~hb}[h\~Â&#x2030;] }Â&#x20AC;}q] Dogara said the Immunization Vaccine is aimed at ensuring the health }~p]Â&#x20AC;^qq]Â&#x2013;^h~|]\x][ ^]b hqpv^~]Â&#x20AC; \]}v^]xÂ&#x17D;[Â&#x17D;v^]q^}p^v ]\x][ ^]b\Â&#x17D;~[vw] } ][ ^v^]h ]~\]v^} \~]Â&#x20AC; w]`}v^~[ ]  \Â&#x17D;qp]ph Â&#x17D;}p^][ ^hv]Â&#x20AC;}vp ]xv\Â&#x2021;] accepting them. ] }v[] \x] [ ^] [}[^Â&#x2021;^~[] }hpÂ&#x2030;] Â&#x2022; ^] }v^] }``^}qh~|] [\] [ ^] }v^~[ Âť] Â&#x17D;}vph}~ ][\]}qÂ&#x20AC;}w ]Â&#x20AC;^qb\Â&#x2021;^][ ^]j}bbh~}[\v ]}~p][ ^w]  \Â&#x17D;qp]}qq\Â&#x20AC;] [ ^Â&#x2021;]xv^^qw][\]hÂ&#x2021;Â&#x2021;Â&#x17D;~hÂł^][ ^hv]b hqpv^~Â&#x2C6;]  ^]`\qh\]hÂ&#x2021;Â&#x2021;Â&#x17D;~hÂł}[h\~]h ]\~]} ] xv\Â&#x2021;][\p}w]Âľ[ ]ÂŤw^ [^vp}wÂŹ]}~p]h[]Â&#x20AC;\Â&#x17D;qp]q} []]Â&#x17D;`][\]ÂĽÂĄ[ ]\x][ h ]Â&#x2021;\~[  ] the statement said. JAP also called on the traditional rulers and religious leaders to put in Â&#x2021;\v^]^9\v[ ][ v\Â&#x17D;| ][ ^hv]}pjh \vw]v\q^]Â&#x20AC;h[ ]}]jh^Â&#x20AC;][\]^~ Â&#x17D;vh~|][ }[]}qq] their followers immunize their kids. The statement commended the role of Kaduna State Government, [}[^] vhÂ&#x2021;}vw] ^}q[ ] }v^]}|^~bh^ Â&#x2030;]p^j^q\`Â&#x2021;^~[]`}v[~^v ]}~p]\[ ^v] stakeholders for their role towards kicking polio out of the state in `}v[hbÂ&#x17D;q}v] }~p] [ ^] b\Â&#x17D;~[vw] } ] }] Â&#x20AC; \q^Â&#x2030;] ^_`q}h~h~|] [ }[] x\v] \j^v] ¥¤] months now, Kaduna State has been free from wild polio virus. ] ]}q \]v^Â} Â&#x17D;v^p][ }[][ ^w]Â&#x20AC;hqq]b\~[h~Â&#x17D;^][\]`Â&#x17D;[]h~][ ^hv]Â&#x2013;^ [][\Â&#x20AC;}vp ] enlightening the public so as to achieve the desire result.
APC youths support annulment of Dabangâ&#x20AC;&#x2122;s election Gyang Bere, Jos
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Chamber decries moribund state of Onitsha Port Alphonsus Eze, Awka
T
h e Onitsha Chamber of Commerce Industries, Mines and Agriculture (ONICCIMA), has expressed Â&#x17D;K^v]ph Â&#x2021;}w]\~][ ^]h~}Â&#x2013;hqh[w]\x][ ^] Federal Government to fast-track `Â&#x17D;Kh~|] [ ^] ~h[  }] hj^v] `\v[] h~[\] ^9^b[hj^] Â&#x17D; ^] Â&#x2013;w] `v\jhph~|] [ ^]v^Â&#x2021;}h~h~|]~^b^ }vw]q\|h [hb Â&#x2030;] which include ensuring the full b\Â&#x2021;`q^Â&#x2021;^~[] \x] `\v[] v^|Â&#x17D;q}[\vw] agencies. The Chamber, in a b\Â&#x2021;Â&#x2021;Â&#x17D;~hšÂ&#x17D;Âż] h|~^p] Â&#x2013;w] [ ^] President of the Chamber, Dr. hÂ&#x2021;] ~\ hÂ&#x161;^Â&#x2030;] h Â&#x17D;^p] }-^v] [ ^hv] 7th Perspective, a lecture series of the Organised Private Sector (OPS), said the port which was commissioned on August 30, ¥¤¼¥] Â&#x2013;w] v^ hp^~[] \\pqÂ&#x17D;bÂ&#x161;]
\~}[ }~Â&#x2030;]v^|v^K}Â&#x2013;qwÂ&#x2030;] } ]qhKq^]\v] ~\]`\v[]}b[hjh[w][}Â&#x161;h~|]`q}b^][ ^v^Â&#x2C6; ~][ ^]b\Â&#x2021;Â&#x2021;Â&#x17D;~hšÂ&#x17D;ÂżÂ&#x2030;][ ^w]}q \] v^|v^K^p] [ ^] }`}[ w] \x] `vhj}[^] sector operators towards taking advantage of the port for their Â&#x2013;Â&#x17D; h~^ ^ Â&#x2030;] p^ `h[^] [ ^] ^9\v[ ] \x] }[h\~}q] ~q}~p] }[^v }w ] Â&#x17D;[ \vh[w] ÂŤ ÂŹÂ&#x2030;] h|^vh}] Shippers Council (NSC), and the Onitsha Chamber of Commerce [\]bv^}[^]~^b^ }vw]}Â&#x20AC;}v^~^ ]\x] the potentials of the port. ONICCIMA noted that Onitsha as a large commercial town, indeed the largest in West Africa, and its cosmopolitan
`\`Â&#x17D;q}[h\~] Â&#x2021;}Â&#x161;^ ] [ ^] hj^v] \v[] j^vw] [v}[^|hb] x\v] ph [vhÂ&#x2013;Â&#x17D;[h\~] \x] goods and services throughout the \Â&#x17D;[  } [] \~^]}~p]Â&#x2013;^w\~pÂ&#x2C6; The Chamber noted that the šÂ&#x17D;}qh[w] b\~[v\q] h~] h|^vh}] Â&#x20AC;} ] an unquestionable ingredient in ~\[] \~qw] }b h^jh~|] Â&#x17D; [}h~}Â&#x2013;q^] economic development in an h~bv^} h~|qw] b\Â&#x2021;`^[h[hj^] |q\Â&#x2013;}q] ^b\~\Â&#x2021;wÂ&#x2030;]Â&#x2013;Â&#x17D;[]}q \]h~]}K}h~h~|][ ^] economic transformation blueprint of the Jonathan administration. ]  ^w] }hp] [ ^] ~}[h\~] q}bÂ&#x161;] [ ^] b}`}bh[w] [\] \j^vÂb\Â&#x2021;^] [^b ~hb}q] barriers to trade and compliance with the requirements of international agreements on products and services standards, which are the prerequisites for Â&#x2021;}vÂ&#x161;^[] }bb^ ] } ] Â&#x20AC;^qq] } ] Â&#x161;^w]
factors to Nigeriaâ&#x20AC;&#x2122;s economic competitiveness.  ^]  }Â&#x2021;Â&#x2013;^v] v^|v^K^p] [ ^] brazen lack of coordination and w~^v|w] h~] [ ^] \`^v}[h\~ ] \x] Â&#x17D;b ] bvh[hb}q] v^|Â&#x17D;q}[\vw] }|^~bh^ ] } ] Standard Organization of Nigeria ÂŤ ÂŹÂ&#x2030;] }[h\~}q] |^~bw]x\v] \\p] and Drug Administration and Control (NAFDAC), Consumer Protection Council (CPC) and others towards achieving the p^ hv^p]`v\pÂ&#x17D;b[]}~p] ^vjhb^]šÂ&#x17D;}qh[w The Chamber however b\Â&#x2021;Â&#x2021;^~p^p] [ ^] ^9\v[ ] \x] Standards Organisation of Nigeria ÂŤ ÂŹÂ&#x2030;] }[h\~}q] |^~bw]x\v] \\p] and Drug Administration and Control (NAFDAC), Consumer Protection Council (CPC), National Communication Commissions
(NCC) and other such agencies for [ ^hv]h~phjhpÂ&#x17D;}q]^9\v[ ]h~]v}h h~|] the national level of awareness \x] `v\pÂ&#x17D;b[ ] }~p] ^vjhb^ ] šÂ&#x17D;}qh[w] control, striving to ensure the maintenance and sustenance of adequate product and service šÂ&#x17D;}qh[w][ v\Â&#x17D;| \Â&#x17D;[][ ^]~}[h\~Â&#x2C6;  ^w][ ^~]Â&#x17D;v|^p][ ^] ^p^v}q] Government to develop policies and institutional framework that relate to standards and testing that would enable Small and Medium Scale Enterprises ÂŤ ÂŹ] ~\[] \~qw] [\] }``v^bh}[^] [ ^] ~^^p] x\v] `v\pÂ&#x17D;b[] šÂ&#x17D;}qh[w] b\~[v\q] }~p] b\~x\vÂ&#x2021;h[w] Â&#x20AC;h[ ] market requirements, but also to }p ^v^] [vhb[qw][\]`v\pÂ&#x17D;b[ ]}~p] services as well as set standards in their operations at all times.
Police recover AK 47 from suspected killer of sergeant Godwin Akor, Makurdi
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olice in Makurdi have arrested one of the suspected armed robbers that killed Sergeant Bawa Â&#x161;\²}]\~] Â&#x17D;qw]ÂŚÂĽÂ&#x2030;]}~p][\\Â&#x161;]}Â&#x20AC;}w]  h ] Â&#x161;]§¢]vhÂş^]}[][ ^] ^Â&#x2021;] \[^q] area of Ankpa Quarters. \qhb^] Â&#x17D;Â&#x2013;qhb] ^q}[h\~ ] ½b^v] ÂŤ ÂŹÂ&#x2030;] }~h^q] Âł^}q}Â&#x2030;] }hp] h~] a statement made available to Sunday Newswatch that one Torma Abanage was arrested \~] Â&#x17D;|Â&#x17D; [] ¡] Â&#x20AC;h[ ] [Â&#x20AC;\] q\b}qqw] made pistols and eight rounds of ammunition at the Wurukum
area of Makurdi. He said based on further information that the suspect pv\``^p]}]Â&#x2013;q}bÂ&#x161;]~wq\~]Â&#x2013;}|]Â&#x20AC; hq^] running through the crowd at the Wurukum market; the police opened the bag and discovered [ ^] ]§¢]vhÂş^]Â&#x20AC;h[ ]ÂŚÂĄ]v\Â&#x17D;~p ]\x] ammunition, a mask and a black jacket. Ezeala further disclosed that \~] [ ^] }Â&#x2021;^] p}wÂ&#x2030;] [ ^] `\qhb^] stopped one Torkuma Age who Â&#x20AC;} ]b\~j^wh~|]}]`} ^~|^v]\~]}] }²}²]Â&#x2021;\[\vbwbq^]}q\~|] |hvh] Â&#x161;\] road, Makurdi, but during the
search, he tried to escape with the passenger. ] ^] ^_`q}h~^p] [Â }[] }-^v] }] Â \[] chase, Torkuma Age was arrested Â&#x20AC;h[Â ] \~^] q\b}qqw] Â&#x2021;}p^] `h [\q] discovered on his person during the search. Â hq^] }wh~|][Â }[]Â&#x2013;\[Â ] Â&#x17D; `^b[ ] would soon be charged to court, [Â ^] ] }hp] \~] [Â ^] }Â&#x2021;^] p}wÂ&#x2030;] August 6, 82 wraps of weeds suspected to be Indian hemp were abandoned where some suspected armed robbers were preparing [\][}Â&#x161;^]\9]x\v][Â ^hv]Â hp^\Â&#x17D;[]}q\~|] Gboko road at about 4 pm.
|v\Â&#x17D;`] Â&#x17D;~p^v] [Â ^] }^|h ] \x] ] ~[^|vh[w] v\Â&#x17D;`Â&#x2030;] b\~ h [h~|] \x] \Â&#x17D;[Â ]}~p]Â&#x20AC;\Â&#x2021;^~]h~] q}[^}Â&#x17D;] [}[^]Â } ]p^bq}v^p] \qhp}vh[w]Â&#x20AC;h[Â ] the National Secretariat of the All Progressive Congress (APC) for the annulment of the election of Latep Dabang as APC Chairman in Plateau State. The group also declared support for the recognition of
\~Â&#x2C6;] Â&#x2021;\ ] \Â&#x2021;Â&#x2013;h]} ][ ^]}Â&#x17D;[ ^~[hb]b }hvÂ&#x2021;}~]\x][ ^]`}v[wÂ&#x2C6;] ~]}]`v^ ] [}[^Â&#x2021;^~[] h|~^p]Â&#x2013;w]b }hvÂ&#x2021;}~]\x][ ^]|v\Â&#x17D;`Â&#x2030;] \~Â&#x2C6;] \pÂ&#x20AC;h~] Â&#x2C6;] Â&#x17D;pÂ&#x17D;]Â&#x20AC; \]h ]x\vÂ&#x2021;^v]  }hvÂ&#x2021;}~] }~|[}~|] \Â&#x17D;[ ]}~p][ ^] ^bv^[}vwÂ&#x2030;] q Â&#x2C6;] p}Â&#x2021;Â&#x17D;] ^²^] Â&#x2021;}p^] }j}hq}Â&#x2013;q^] [\] Â&#x17D;~p}w] ^Â&#x20AC; Â&#x20AC;}[b Â&#x2030;] [ ^] |v\Â&#x17D;`] expressed support for the leadership of APC under Hon. Amos Gombi Â&#x20AC; \]}qq^|^pqw]b\~[v\q ][ ^]q}v|^ []~Â&#x17D;Â&#x2021;Â&#x2013;^v]\x]`}v[w]x}h[ xÂ&#x17D;q ]h~][ ^] [}[^Â&#x2C6; }v[]\x][ ^] [}[^Â&#x2021;^~[]v^}p Âą]Â&#x2022; ^] }j^]}~}qw ^p][ ^] \Âb}qq^p]p^x^~b^] \x] \~Â&#x2C6;] }[^`] }Â&#x2013;}~|]} ]b\~[}h~^p]h~][ ^]p\bÂ&#x17D;Â&#x2021;^~[ ] Â&#x17D;Â&#x2013;Â&#x2021;hK^p][\][ ^] National Chairman on June 4, 2014 and observed that, Latep Dabangâ&#x20AC;&#x2122;s q^K^v] \x] v^ h|~}[h\~] Â&#x20AC;} ] h~b\~ h [^~[] Â&#x20AC;h[ ] [ ^] p}[^] \x] [ ^] q} [] \b}q] \j^v~Â&#x2021;^~[] ^q^b[h\~] } ] v^q^} ^p] Â&#x2013;w] [ ^] q}[^}Â&#x17D;] [}[^] ~p^`^~p^~[] Electoral Commission (PLASIEC) in Plateau State. â&#x20AC;&#x153;For instance, he claimed to have resigned on the 21 of November, 2013 [\]b\~[^ [] \b}q] \j^v~Â&#x2021;^~[] q^b[h\~]\~][ ^]¥¨] ^Â&#x2013;vÂ&#x17D;}vwÂ&#x2030;]¥¤¼§]Â&#x20AC; ^~][ ^] ^q^b[h\~]} ]}[][ }[][hÂ&#x2021;^]} ]x\v]¢] ^b^Â&#x2021;Â&#x2013;^vÂ&#x2030;]¥¤¼Œ]}~p] Â&#x17D;Â&#x2013; ^šÂ&#x17D;^~[qw]  h-^p] [\]ÂĄÂĽ] ^b^Â&#x2021;Â&#x2013;^v]¥¤¼Œ]}~p]q}[^vÂ&#x2030;][\]Œ¤] }~Â&#x17D;}vw]¥¤¼§]Â&#x2013;^x\v^]h[]Â&#x20AC;} ]x\vÂ&#x2021;^vqw]  h-^p][\]¥¨] ^Â&#x2013;vÂ&#x17D;}vw]¥¤¼§Â&#x2C6;] ^]} Â&#x161;^p]hx]v^}qqw] }[^`] }Â&#x2013;}~|]v^ h|~^p]\~] ÂĄÂĽ] \j^Â&#x2021;Â&#x2013;^vÂ&#x2030;]¥¤¼ŒÂ&#x2030;] \Â&#x20AC;] ^]^~jh }|^p][ h ]b }~|^]h~]p}[^ Â&#x2C6; The group insist that : â&#x20AC;&#x153;The fact that Latep Dabang continued to v^b^hj^] }q}vh^ ]xv\Â&#x2021;][ ^] }[h\~}q] ^Â&#x2021;Â&#x2013;qw]h ]h~phb}[hj^]\x][ ^]x}b[][ }[]  ^]v^Â&#x2021;}h~^p]h~][ ^] ^vjhb^]\x]|\j^v~Â&#x2021;^~[]Â&#x17D;`][hqq] Â&#x17D;~^Â&#x2030;]¥¤¼§]}~p]b\~[v}vw] to schedule (II) sub section (III) of APC constitution and also section 182 ÂŤÂĽÂŹ]\x][ ^]¼¾¾¾] \~ [h[Â&#x17D;[h\~]} ]}Â&#x2021;^~p^pÂ&#x2C6; â&#x20AC;&#x153;In Latep Dabangâ&#x20AC;&#x2122;s response to the APC headquarters, to defend  hÂ&#x2021; ^qxÂ&#x2030;] ^]bq}hÂ&#x2021;^p][ }[] h ]`vh~bh`}qÂ&#x2030;] ^~Â&#x2C6;] \  Â&#x17D;}] }vhw^]`Â&#x17D;v`\v[^pqw] phv^b[^p][ ^] }[h\~}q] ^Â&#x2021;Â&#x2013;qw] \Â&#x2021;Â&#x2021;h h\~][\]b\~[h~Â&#x17D;^][\]`}w] }q}vh^ ] [\] hÂ&#x2021;]Â&#x17D;`][\] }wÂ&#x2030;]¥¤¼§Â&#x2C6;]  h ]h ]xv}Â&#x17D;pÂ&#x17D;q^~[Â&#x2030; ][ ^]|v\Â&#x17D;`]\Â&#x2013; ^vj^pÂ&#x2C6;
\~Â&#x2C6;] Â&#x17D;pÂ&#x17D;] [v^ ^p][ }[Âą]Â&#x2022; ^]}q \]Â&#x20AC;}~p^v]Â&#x20AC; w][ ^v^]Â&#x20AC;} ]~\] h~|q^] b\vv^ `\~p^~b^]xv\Â&#x2021;][ ^] }[h\~}q] ^Â&#x2021;Â&#x2013;qw] \Â&#x2021;Â&#x2021;h h\~]Â&#x20AC; \]Â&#x20AC;} ] h ] ^Â&#x2021;`q\w^v ]}[][ ^][hÂ&#x2021;^]\x] h ]}qq^|^p]v^ h|~}[h\~Â&#x2C6;] ^] }j^][}Â&#x161;^~][ ^]`}h~ ] [\] h| qh| [][ ^ ^]q}` ^ ]h~]\Â&#x17D;v]}vp^~[]Â&#x2013;^qh^x][ }[] ] [}~p ]x\v]^šÂ&#x17D;h[wÂ&#x2030;] x}hv~^ ]}~p] Â&#x17D; [hb^Â&#x2C6; The group commended the National Headquarters of the APC for its p^bh h\~][\]Â&#x17D;` \qp] \~Â&#x2C6;] Â&#x2021;\ ] \Â&#x2021;Â&#x2013;h]} ][ ^]`}v[w]b }hvÂ&#x2021;}~]h~] q}[^}Â&#x17D;Â&#x2030;] following his excellent record of service well acknowledged across the ¼¢]q\b}q]|\j^v~Â&#x2021;^~[]}v^} ]\x][ ^] [}[^Â&#x2030;] }wh~|][ ^]`}v[w] [}~p ][\]Â&#x2021;}Â&#x161;^] serious impact in view of the limited time at its disposal.
Ofodile, Ex-AG, dies at 92 in Onitsha Alphonsus Eze, Awka
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\vÂ&#x2021;^v] K\v~^w] ^~^v}q]\x][ ^] ^p^v}[h\~]}~p] h~h [^v]\x] Â&#x17D; [hb^Â&#x2030;]  h^x] v}~bh ]  hÂ&#x161;^] x\phq^]ÂŤ ÂŹÂ&#x2030;] } ]ph^p]}[][ ^]}|^]\x]¾¥Â&#x2C6; ] [}[^Â&#x2021;^~[]xv\Â&#x2021;][ ^] ~h[  }][v}ph[h\~}q]b\Â&#x17D;~bhqÂ&#x2030;] h|~^p]Â&#x2013;w] Âł^ph] Udom, said Chief Ofodile, who is the traditional Prime Minister of ~h[  }]ÂŤ[ ^] ~\Â&#x20AC;Â&#x17D;] w} ^q^ÂŹÂ&#x2030;]ph^p]h~] ~h[  }]\~] Â&#x17D;|Â&#x17D; []ÂŚÂ&#x2030;]¥¤¼§]}-^v] a brief illness. x\phq^Â&#x2030;]Â&#x20AC; \] } ]~}[h\~}q] \~\Â&#x17D;v]\x] Â&#x2030;]Â&#x20AC;} ]}] Â&#x17D;bb^ xÂ&#x17D;q]q}Â&#x20AC;w^v] Â&#x20AC; \]v\ ^][\][ ^]v}~Â&#x161;]\x]}] ^~h\v] pj\b}[^]\x] h|^vh}]h~]¼¾¢¾Â&#x2C6;] ^]Â&#x20AC;} ] h|^vh}Š ] K\v~^w] ^~^v}q]}~p] h~h [^v]\x] Â&#x17D; [hb^]pÂ&#x17D;vh~|][ ^] Â&#x17D; }vh ph}|Â&#x2013;\~]}pÂ&#x2021;h~h [v}[h\~]\x]¼¾£§Â¼¾£¨]}~p]v^[hv^p]xv\Â&#x2021;]}b[hj^]`v}b[hb^]h~] ¥¤¤¾]}-^v]¨¤]w^}v ]\x] h ]b}qq][\][ ^] }vÂ&#x2C6; In 2003, the Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, conferred \~] hÂ&#x2021;][ ^]\½b^]\x][ ^] ~\Â&#x20AC;Â&#x17D;] w} ^q^]\x] ~h[  }Â&#x2030;]}]`\ h[h\~] ^] ^qp] }~p]ph b }v|^p] h ]pÂ&#x17D;[h^ ]Â&#x20AC;h[ ]^_b^`[h\~}q]p^phb}[h\~]}~p]}Â&#x2013;hqh[w]Â&#x17D;~[hq] his death. x\phq^] Â&#x20AC;} ] Â&#x2013;\v~] [\] x\phq^] Âł^Â&#x17D;|\] \x] Â&#x2021;Â&#x17D;] Â&#x2013;h] p\|Â&#x20AC;Â&#x17D;] v\w}q] x}Â&#x2021;hqw]\x] |Â&#x2013;^\Âł}q}] hqq}|^]}~p] Â&#x2021;Â&#x17D;~^Â&#x2013;^]\x][ ^] qh }] ²h^p^]x}Â&#x2021;hqw] h~] p\²^q^]jhqq}|^Â&#x2030;]Â&#x2013;\[ ]xv\Â&#x2021;] ~h[  }Â&#x2030;] ~}Â&#x2021;Â&#x2013;v}] [}[^Â&#x2C6;] ^]}K^~p^p][ ^] Â&#x2021;Â&#x2021;}~Â&#x17D;^q]  Â&#x17D;vb ] ~x}~[] b \\qÂ&#x2030;] [Â&#x2C6;] }vwŠ ] vhÂ&#x2021;}vw] b \\q]}~p]  vh [] the King College, all in Onitsha.
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SUNDAY NEWSWATCH, AUGUST 10, 2014
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8
SUNDAY NEWSWATCH, AUGUST 10, 2014
FOREIGN NEWS
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SUNDAY NEWSWATCH, AUGUST 10, 2014
FOREIGN NEWS
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* '= ' ,= '( ,= "!&( 4= 2!= '5= "(%= . = &= % ,= ' ! = ' '= (#= * ' = ' = % ) !'= (' "% ' &= (& = * = ) = ' ,= & "( = = %= '"= (&4= = & "( = !"'= # ,= "%= & %) &= !"'= % ! % 4= "% ,5= ' = !) &'"%= &= ) != = & %) &= " = . = ( '= "%= "!&( %&5= &= "&'=" =' =" &=' '= % =&(##"& = '"=& %) =' =# "# = ) = != "& = "*!4= = %&'= % ! = !'% = &= != "& = "*!5= ! = * :) = != = '"= "= '"= = ) %,= %= # = '"= % #"%'= * ! ) %= ' % = &= ( '= "%= !,= " # !'4= = ' & = % = ' ! &=
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= &'" <# ! = ' % &= &"= ' '= ' ,= "!:'= ) = '"= &' %'= &'%( ! = '"= * ! ) %= ' % = &= = #%" 4= = #%" = &= !"'= ' = '"= 2 = "%= "&5= ) != 2 != ! = &" = "' %= 2 . = % = ) ! = & %= #%" &4= 2!= ,= " = '"*!5= ' ,= "! ,= ! = % "(%= = "%= &( < &' ' "!= % # %&4= '= &= != "!= "%= "% = ' != ' % = "!' &5= ! = ' ,= ) = , '= '"= += '4= 2!= ' = # &'5= ' = & %) = !'% &= " = ' = &'% '= "!:'= ) = '"= ## ,= '"= ' = = " = "%= &( =' ! &4= %" =' %= #% &'=' ,= =#(% & &=" =' "& = '' =' ! &4== (('=' &=' = %"(! 5=' % = &=!"' ! = =' '4= ,= ) ='"= "=' %"( =' = ( %&" = (% ( % ,= ! = * '= "%= % &#"!& = %" = ' = = " = * ! ) %=' % = &= !,= ( '5=' &5=,"(= *"( = % =* ' = 5=' &=' 4= "%= !&' ! 5=' = & =2= ' = &=!"*= "('= ' % = "!' &= " 5= ' '= &" = # "# = ) = != '=* ' "('=#"* %=&(## ,4 ! " # " " $ %
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
! ## # $ ! & $ # $ ! # # ! # " # " ! " &""# 5= * 5= * 5= ' '= 2= !!"'= & ,= (& = 2= "!:'= !"*= ' %= # ' = & 4=(('=2= !"*=' '=' = ,= !=' = % & = " = # ' = "%= ' % &= ) = !"' ! ='"= "=* ' = ! ! 4=2'=* &!:'=
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"*:D D D #(KD ! D 'D :D D ' % D &D !,D D "('D & D !D !D' D # !:D D ! D' D# '(% D& "*&D' D# %&"! ',:D D ) & D .D "%D * " ) %D &D ! D &( D D D '"D *% ' D D "% D KD %D '"D ' D !&# '"%D ! % D " D " D ! D % '"%D " D D'"D !) &' ' :D' !D' ,D* D !"*D * "D' D & D !D &9D &D %D &D * D % D "! %! :D * D "!@'D % "%D' ( &:D* D "!@'D ) D !D' %%"% & :D * D "!@'D ) D ? ' ' D (",&@:D !D D "(%D # !&:D ' % D &D !"D % "% D " D ) " ! D !,* % D * D "D ! D * D ' ! D " D "%D ' &D ! D 'D &D % ! D &":D &"D D ,"(D % D !"*D & "(' ! D "('D & D !:D &D !, " ,D ! D ! (% D "%D KD D !D "(%D # !&<D % D * &D D ' D * D ) !D D D % ,:D D ' ! D 'D * &D !D C "D "%D &" * % :D ' D D " % D " D % D * &D ' % D "!&# ("(& ,D ! D ' '@&D * % D "(%D &' D* &D ! D* D D"(%D% ,D* D &D D " % D * &D ) !D ' D %"(! :D * D "!'D ) D D !D "('D D' & :D !&' D * D % D' D"! D' 'D % D ! D KD :D* D ) D ! ) %D KD D !,"! D (& D * D "!@'D ) D' ( &:D* D "!@'D ) D' %%"% &'&:D * D "!@'D ) D ?&' ' D ",&@:D &"D D ' % D (&D !,' ! D ' ,D * !'D '"D & ,D "('D & D !:D D ) & D' D'"D% #"%'D'"D' D& (% ',D ! D !"'D '"D ' D #% &&D (& D ,"(D =#% &&>D "!@'D ) D !) &' ' ) D #"* %:D ,"(D "!@'D ) D ' D #%"& (' ! D #"* %:D '&D "! ,D ' D #" D * "D !D D! :D * "D !D #%"& (' :D &"D 'D' D "D'"D' 'D !! D ! D!"'D"!D ' D # &D " D ! *&# # %&:D ' 'D &D !"' %D #%"# ! 9D "# D ' 'D % D %, ! :D ?&" " ,D &D (! %D & :D &" " ,D &D (! %D ") %@D &D (& D ' ,D ) D D ! &D ! D &" ' ! D '"D ") %:D ' D # %&"!D ! D ' D & (% ',D "%D % &" D &D D #(',D " && "! %D" D#" D !D &(!D ' ' 9D "D D % D & ,&D D * !'&D 3:...D #" !D !D &D !'"(% D '" ,:D D * D 'D 'D* ' "('D# , ! D !,' ! 9D ,D "!@'D ' D "! ,D %" D !, " ,:D ) !D ' %D "* %D &D#" D " "* ! D 9D ,D"*!D ' %D #"* %D &D !"*D (& ! D # "':D D &D 0D D ! D 2D #" !D " "* ! D 9D ":D D ' 'D "( D ## !D '"D ' %D "* %:D ' !D 'D !D ## !D '"D !, " ,D !D ' &D &' ' 9DD D# %',D ## D "%D 'D ! D' ,D& D* D & "( D ## ,D ! D ' ,D * D % !'D 'D 'D !"D "&'D'"D !,D" D' D# %' &D (& D' ,D "!@'D * !'D' ( &9D 'D &D * !D ' ,D ) D D ' 'D * D !D & ,:D " :D * D * !'D '"D ' D D *D !'"D "(%D ! &D ! D* " ) %D' ,D#%") :D* ' %D ' D :D ' D #" :D . ) D ! D "%D !,D "' %D& (% ',D !':D D,"(D& D !,D&'% ! D # %&"!:D D * D % #"%'9D ,D "! ,D * !'D '"D D D " D D ! D !D "% %D '"D ! D '9D "# D & "( D D *"%% ;D * D * !'D '"D )"' D"!D ( (&'D7:D"! D !:D"! D)"' :D"! D *" !:D"! D)"' :D"! D,"(' :D"! D)"' 9DDD $ $ $ !
$ ! $ " $ $ $ $
!D,"(D % D# !! ! D "%D' ':D,"(D* D " D' D ! D" D !&'%( !'&D,"(D*"( D D' ! D'"D' D* %9D D&' %' D &"% @&D #" ' D "(%! ,D %D D/5:D/6D, %&D "D ! D* D&' %' D*% ' ! D ! &'" D !D0..59D (('D D' D& '( ' "!D" D &(!D ' ' D &D$( ' D 9D % !'D %" D * 'D * D % D +# % ! ! D '" ,9D D #%" D * D % D ) ! D '" ,D !D &(!D ' ' D &D D & D % %D D "!D &D ' 'D ' D % &"(% &D " D &(!D ' ' D % D !"'D ! D (' - D ,D' D&' ' 9D
25
SUNDAY NEWSWATCH, AUGUST 10, 2014
ARTS & REVIEW
with Bukola Bakare bukola.bakare@mydailynewswatchng.com 08034198320
Obama through a Nigerian immigrantâ&#x20AC;&#x2122;s lens Title: Obama, First African American President: Successful Timing Author: Shehu Bankole-Hameed Publisher: iUniverse Reviewer: Bukola Bakare
as the Queen of talk show, `v} ] h~xv^wÂ&#x2C6;] ^Kh~|] }] Â&#x2013;h[] historical, he delves into issues of slavery, emancipation and the struggle to gain independence. Americans such as Frederick Douglas, W.E.B. Du Bois and Harriet Tubman who resisted n 2008, when he emerged was vibrant.â&#x20AC;? Now, he works several forms of slavery are as the 44th President as an Information Technology brought to the fore. Naturally, of the United States Consultant and also the founder Bankole-Hameed didnâ&#x20AC;&#x2122;t fail of America, naturally, of an alternative energy website to mention Rosa Parks a black Barack Hussein Obama sent called true comfort zone. woman who would not give up a wave of change across the Bankole-Hameed says this book her seat for a white man, an act American soil, especially among gives a vivid account of how which is widely known as the African-Americans, who voted he experienced the election \~[|\Â&#x2021;^vw] Â&#x17D; ] \wb\K] \x] en masse in the polls. Needless process from the primaries to 1955 as well as the great march to say that the â&#x20AC;&#x2DC;Yes We Canâ&#x20AC;&#x2122; the party conventions and the of 1963 where Martin Luther slogan became a popular general elections. â&#x20AC;&#x153;I wrote this King gave his famous â&#x20AC;&#x2DC;I have a slogan around the world. The book to capture my thoughts dreamâ&#x20AC;&#x2122; speech. book, â&#x20AC;&#x2DC;Obama, First African- in my native language (Yoruba) With chapter 4, BankoleAmerican President: Successful but translated it into English.â&#x20AC;? Hameed dissects some of hÂ&#x2021;h~|Š]Â&#x20AC;} ]Â&#x20AC;vhK^~]Â&#x2013;w] h|^vh}~] This would explain some of Obamaâ&#x20AC;&#x2122;s messages in some of his immigrant in the United States, the colloquial language readers speeches which talked about the Shehu Bankole-Hameed. He Â&#x20AC;\Â&#x17D;qp] Â&#x2122;~p] h~] [ ^] b\Â&#x17D;v ^] \x] need for â&#x20AC;&#x153;social justice, equality \9^v ] }] xv^  ] `^v `^b[hj^] } ]  ^] reading the book. and fair play; not as an exclusive Presenting his narrative in shares his careful examination issue between blacks and whites and honest viewpoint regarding seven distinct chapters, the or between immigrants and author starts with chapter one the American political system. the citizens but as a need for all ] [}v[h~|]\9]Â&#x20AC;h[ ]}]`v^x}b^Â&#x2030;][ ^] where he takes readers down Americansâ&#x20AC;? (Pg. 47). author takes readers through memory lane on events leading  }`[^v] Â&#x2122;j^] b v\~hbq^ ] [ ^] his emigration from Nigeria to to the election where Obama general elections (Pgs. 61-95) America in 1998. â&#x20AC;&#x153;This was at pulled 53 per cent of the total with â&#x20AC;&#x2DC;The Decisionâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;Other a time when the US economy votes. Bankole-Hameed brings issues and platformsâ&#x20AC;&#x2122; as chapters to the fore several issues the six and seven respectively. These President had to contend with reminisce on Obamaâ&#x20AC;&#x2122;s eventual such as his position on the emergence as U.S President economy, war, job creation, as well as some of the burning energy, health care, tax and Drenched are some of his age mates education. He would go on to Furthermore, Bankole- book, the author also carried issues he had to deal with; free hÂ&#x161;^]}]b hbÂ&#x161;]v^ bÂ&#x17D;^p]xv\Â&#x2021;]}]|Â&#x17D;K^v give a brief background into Hameed highlights key players out personal survey among his trade, homeland security, crime, Finding it hard his life on pages 5-11 (Things during the election such as US African-American communities, healthcare, technology and the \] Â&#x17D;vjhj^][ ^]Â&#x2013;}Kq^]\x]qhx^ naturally in the public domain ^~}[\v] }~p] x\vÂ&#x2021;^v] Â&#x2122;v [] hq}vw] mostly those from his native land likes. He brings the book to an end \K^~]}v^]b^v[}h~]\[ ^v already). Rodham Clinton who would (Nigeria) and other countries with lessons from the elections Swallowed by mother earth Chapter two delves extensively go on to become the countryâ&#x20AC;&#x2122;s in West and North Africa to air }~p]  \Â&#x20AC;] h[] h~j}vh}Â&#x2013;qw] }9^b[^p] By Godâ&#x20AC;&#x2122;s grace into the 2008 US Presidential Secretary of State during Obamaâ&#x20AC;&#x2122;s their views on the unfolding `^\`q^] Â&#x20AC; \] w^}v~^p] x\v] }] Â&#x2013;^K^v] Our latest octogenarian elections, highlighting how Â&#x2122;v [] [^~Â&#x17D;v^Â&#x2030;] \ ~] pÂ&#x20AC;}vp Â&#x2030;] political drama and would tomorrow for their children. Fashioning wisdom hairs With this book, Shehu BankoleObama became a candidate, and current Secretary of State, discover how the grounds began Is still around won the Democratic primaries John Kerry. Powerful speeches [\]  h-] h|~hÂ&#x2122;b}~[qw]h~]x}j\Â&#x17D;v]\x] Hameed, uses Obama as an arrow Hale and hearty head to mirror the lives of African and eventually the Presidency. where Obama said: â&#x20AC;&#x153;I stand here Obama. Bouncing on the hemispherical soil Same, he does for John McCain knowing that my story is part of Coming on the heels of this is Americans in the diasporas and Grandpa Wole Soyinka who won the Republican Partyâ&#x20AC;&#x2122;s the larger American story, that I a dissection of the Presidentâ&#x20AC;&#x2122;s brings back nostalgic yearnings for â&#x20AC;&#x2DC;Cause you are still super active presidential election primaries have a debt to all of those who persona. The author recalls how that singular moment in history Bubbling also in reputation but lost to Obama. This chapter came before me and that in no some of his supporters coined the when he was sworn in; one that I calmly call you With symbolic honour also gives an insight into how the other country on earth is my term â&#x20AC;&#x2DC;Obamanationâ&#x20AC;&#x2122; (Pg.37). He has provided inspiration to many The wonderful Onigege wura slogan â&#x20AC;&#x2DC;Change we can believe in story even possibleâ&#x20AC;? (Pg. 16). also highlights his endorsement that America is and always will â&#x20AC;&#x2122; came about. In the course of writing this by notable Americans such be a beacon of hope.
I
POETRY
A literary king
The grains Like a star In a night sky With the distant moon Like a shrub. In a forest With baobab trees. Like a grain of sand On a sea shore, I yearn and long To be part of a whole.
To drink with the giants And sup with the dwarfs. To sip from the Cup of kings and paupers. To play with Princes and urchins. Yea to be as one with the cosmos One tiny part of an immense whole One drop of water in an ocean A split of a second And the whole day itself. Who can deny this? But grains keep dropping And I am just an ~Â&#x2122;~h[^ hÂ&#x2021;}q]Â&#x17D;~h[Â&#x2C6; Poems by: Dele Taiwo
Jonathan to unveil In our Minds
P
resident Goodluck Ebele Jonathan is scheduled to unveil a youth book titled: In \Â&#x17D;v] h~p Âą] ^Âş^b[h\~ ] \x] [Â ^] Youths at Nigeriaâ&#x20AC;&#x2122;s centenary on Tuesday, August 12th, which is the International Youth Day Celebration. Since this yearâ&#x20AC;&#x2122;s youth celebration falls under the centenary year, it will be tagged as one of the activities to mark the centenary celebration. The book is a compilation by the social media unit of the Nigeria centenary secretariat, and it is based on the series of essays, quiz competitions and other activities created and managed during the year-long anniversary. The essay and quiz competitions ran for two seasons and they were
administered under the acronym TGIC, which in full means Thank God itâ&#x20AC;&#x2122;s Centenary; and both seasons }Kv}b[^p] `}v[hbh`}[h\~] xv\Â&#x2021;] hundreds of thousands of Nigerian youths across the federation and in the Diaspora, who sent in their thoughts on the theme: The Nigeria of my Dreams. In our Minds is a compendium of all the activities on social media that engaged with the Nigerian youth during the centenary celebrations, a record of how the social media unit, using various online platforms, helped to re-orientate the youths at home and in the h} `\v}] xv\Â&#x2021;] x}Â&#x17D;q[ÂÂ&#x2122;~ph~|] to problem solving, while also tapping into their creative and intellectual acumen; it also
includes a collection of essays by the youths tackling various national and leadership issues. Some of the subjects in the 300 plus page book include: corruption, healthcare, child marriage, welfare for senior citizens, pollution }~p] [ ^] ^~jhv\~Â&#x2021;^~[Â&#x2030;] [v}½b] snarl, political thuggery, unemployment, insecurity, kidnapping, mob action/ jungle justice, the media and Nigeriaâ&#x20AC;&#x2122;s image abroad, migration and the Nigerian Diaspora, strikes in the academia, corporal punishment and so much more. One of the brains behind the book, travel-writer and Award-winning journalist, Pelu Awofeso, said: â&#x20AC;&#x153;What most people didnâ&#x20AC;&#x2122;t know was that there was a solid, deeprooted youth-based angle to
the whole project, an angle that sought to test the intellect of the countryâ&#x20AC;&#x2122;s youths, at home and in the Diaspora. Itâ&#x20AC;&#x2122;s been such pleasure and pleasant memories to have had the opportunity to work with the â&#x20AC;&#x2DC;gangâ&#x20AC;&#x2122; on this book, and also to have had the support and coordinating brilliance of the â&#x20AC;&#x2DC;gang leaderâ&#x20AC;&#x2122; extraordinaire, Angela Onuko Nmoh,â&#x20AC;? he said. Also speaking, Angela Onuko-Nmoh, the coordinator of the Centenary Social Media Platforms added: â&#x20AC;&#x153;In Our Minds is a book that shows how one can transform an entirely disconnected and angry youth to very positive and patriotic youths that are solution providers and problem solvers. This is a major achievement, however, one looks at it.â&#x20AC;?
26
SUNDAY NEWSWATCH, AUGUST 10, 2014
OPINION www.mydailynewswatchng.com
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MOSES JOLAYEMI DELE FASHOMI PATRICK ASONYE OLANREWAJU OYETADE MIKAIL MUMUNI AKIN ORIMOLADE SONI EHI ASUELIMEN OLUKAYODE OGUNJOBI
MD/CHIEF EXECUTIVE OFFICER EDITOR, DAILY EDITOR, SATURDAY EDITOR, SUNDAY EDITOR, NATIONâ&#x20AC;&#x2122;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 Africaâ&#x20AC;&#x2122;s growth, deploying our God-given talent and resources through enduring commitment and loyalty that will justify public confidence
979;<=>?;=@ABCEFGHE?I=<J?ACK=B9=9LGEC9K=H? editorial@mydailynewswatchng.com and addressed to the Editor, Sunday Newswatch Newspaper 159/161, Broad Street, Lagos Tel: 0709 850 4488, 0709 882 1624
Still on Lagos guber race John Tosin Ajiboye
Alhaji Sheu Abubakar, or by his predecessor, Senator he constitution Danjuma Goje, but he joined empowers every the race by participating in the citizen to contest for primary election of his party, any elective position, PDP, and having emerged `v\jhp^p] ^]\v]  ^]h ]šÂ&#x17D;}qhÂ&#x2122;^p] winner, he contested against for the position he is aspiring the candidates of other political for. But in a situation where parties in the general election somebody somewhere or and later won. any group of people is now The President of New Lagos imposing somebody or Movement- a coalition of civil themselves on the electorate, groups in APC- when they were it can be termed as harbouring protesting some days ago said, evil or danger for the masses. Â&#x2022;Â&#x20AC;^]  }j^] [\q^v}[^p] Â&#x17D;½bh^~[qw] This is common, especially in and for too long, the unenviable the All Progressives Congress and anti-democratic culture of (APC) where primary election imposition of party leaders and will be scrapped for the political leaders on our people anointed candidate of one â&#x20AC;&#x2DC;Baba as practiced in Lagos State since Okeâ&#x20AC;&#x2122; or â&#x20AC;&#x2DC;Baba Isaleâ&#x20AC;&#x2122;. the past 11 years.â&#x20AC;? It is on that note that some The ruling party in Lagos aggrieved APC members, must, therefore, stop imposing numbering over 500 recently candidate on the voters, there protested at the Lagos State should be primaries election House of Assembly, to condemn that will be free and fair and what they described as the if there should be consensus culture of imposition and lack among the partyâ&#x20AC;&#x2122;s aspirants, of internal democracy in their none of them should be coerced party. or threatened at a gun point to Many have expected the step down for the anointed one, culture of imposition to have it must be on their own volition. died with ACN which have ph9^v^~[] [}[^ Â&#x;] }qq]  h ] ^9\v[ ] vote for the candidates of their In the same vein, the metamorphosed into APC were frustrated and he was choice based on what he has to traditional rulers should be the having formed alliance with later forced to resign from the \9^v] }~p] ~\[] \~]  h ] v^qh|h\~Â&#x2030;] father to all the governorship other political parties to form a \½b^Â&#x2C6; whom he knows, his previous aspirants and stop campaigning Coming back to Lagos politics, position etc. Therefore, that or showing sentiments for any strong opposition party, but it is unfortunate that the wish of where the ruling party is APC, somebody has served the state candidates or few who consider themselves the race for governorship as Accountantany party so as the custodians of electoral election has started indirectly General is not as not to loose rights is still the command of and it is unfortunate that the license for the remaining a monarch, speaking for anybody others. or infinitesimal It is for that reason that the the godfather, was denying group of people honour and the majorityâ&#x20AC;&#x2122;s aspirations Peoples Democratic Party to force him on respect the (PDP) is regarded by many as by imposing the anointed the inhabitants \½b^] [ ^w] }v^] the only true democratic party candidate on the electorates of the state. occupying in Nigeria, where everybody is }~p] [ ^v^Â&#x2013;w]  Â&#x17D;Kh~|] [ ^] p\\v] For instance, commands. somebody and where nobody against other aspirants, even the former However, while the primary election A c c o u n t a n t  } ][ ^]Â&#x2122;~}q] }wÂ&#x2C6;] since the royal It will be recalled that as has not been held and while General of the fathers are powerful as Chief Olusegun the said anointed candidate F e d e r a t i o n , also entitled Obasanjo was while in the has not made his manifesto Alhaji Ibrahim to their own \½b^] } ] [ ^] v^ hp^~[Â&#x2030;] Â&#x2021;}~w] known to the electorate. That D a n k w a m b o , opinion, they member of his party kicked undemocratic act can be performed well can express against him when he was trying tantamount to danger for the while he was it by casting to accommodate ibode for Lagosians because democracy in civil service their votes for Nigeria in the name of â&#x20AC;&#x153;third is being turned to autocracy. and when he the candidates With the 15 years of civilian showed interest term agenda.â&#x20AC;? of their choice In the same vein, as strong rule in Nigeria, the country to become the but they to be improving governor of his as Bamangar Tukur is, some ought should not PDP governors worked against democratically and the era of state, he was expect their him as the chairman of the imposition of candidates on the not forced on wish to be the party, when they perceived he populace should be fading away. the electorate command of was accommodating ibode for The voters should be allowed by the late Emir the electorates. the political structure of their to access all the aspirants and of Gombe, It is also
T
That undemocratic act can be tantamount to danger for Lagosians because democracy is being turned to autocracy
important for all political parties to obey the Section 99 of the electoral Act which states: â&#x20AC;&#x153;For the purpose of this act, the period of campaign in public by every political party shall commence 90 days before polling day and shall end 24 hours prior to that day.â&#x20AC;? Counting from the date set by INEC for gubernatorial and State Assembly election on February 28, 2015 means that campaign must start not later than November 29 and end on February 26, 2015, which is 24 hours before the end of the 90 days stipulated in the Act. The INEC on her part must not hesitate to penalise any political party that violates the Act by making sure that they `}w] [ ^] Â&#x2122;~^] \x] ¨¤¤Â&#x2030;] ¤¤¤] } ] many times, they violate the rule of the game. The party members like New Lagos Movement and other electorate on their parts must not allow any godfather to accommodate ibode for them or bring them into bondage in the name of zoning, religion, past achievement etc. Instead, the best and the right candidates who will build on the achievements of the incumbent and be creative enough to surpass the achievement of the incumbent must be voted for. In conclusion, it is not disputed that Mr. Akin Â&#x2021;Â&#x2013;\p^] h ] šÂ&#x17D;}qhÂ&#x2122;^p] [\] contest for the governorship post in Lagos, but his šÂ&#x17D;}qhÂ&#x2122;b}[h\~] Â&#x2021;Â&#x17D; [] ~\[] Â&#x2013;^] [ ^] ph šÂ&#x17D;}qhÂ&#x2122;b}[h\~] x\v] \[ ^v] qualify candidates. There should be room for collective freedom because one of the dividends of democracy is freedom: freedom of speech, freedom of association, freedom to vote and the freedom to be voted for etc. Therefore, no one should use his freedom to put others in bondage. !"#$%& '& ()!* +& ',' -.& '/'*#.0%& 1- 0$.& /& 2-"3& '4".%& 4$- '& 5 '& "6/0". /789#'6"": +"3:&;7<=>8<>?@@7?7
26
SUNDAY NEWSWATCH, AUGUST 10, 2014
OPINION www.mydailynewswatchng.com
Sunday Newswatch
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To support Nigeriaâ&#x20AC;&#x2122;s quest for justice through intellectual approach
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MOSES JOLAYEMI DELE FASHOMI PATRICK ASONYE OLANREWAJU OYETADE MIKAIL MUMUNI AKIN ORIMOLADE SONI EHI ASUELIMEN OLUKAYODE OGUNJOBI
MD/CHIEF EXECUTIVE OFFICER EDITOR, DAILY EDITOR, SATURDAY EDITOR, SUNDAY EDITOR, NATIONâ&#x20AC;&#x2122;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 Africaâ&#x20AC;&#x2122;s growth, deploying our God-given talent and resources through enduring commitment and loyalty that will justify public confidence
979;<=>?;=@ABCEFGHE?I=<J?ACK=B9=9LGEC9K=H? editorial@mydailynewswatchng.com and addressed to the Editor, Sunday Newswatch Newspaper 159/161, Broad Street, Lagos Tel: 0709 850 4488, 0709 882 1624
Still on Lagos guber race John Tosin Ajiboye
Alhaji Sheu Abubakar, or by his predecessor, Senator he constitution Danjuma Goje, but he joined empowers every the race by participating in the citizen to contest for primary election of his party, any elective position, PDP, and having emerged `v\jhp^p] ^]\v]  ^]h ]šÂ&#x17D;}qhÂ&#x2122;^p] winner, he contested against for the position he is aspiring the candidates of other political for. But in a situation where parties in the general election somebody somewhere or and later won. any group of people is now The President of New Lagos imposing somebody or Movement- a coalition of civil themselves on the electorate, groups in APC- when they were it can be termed as harbouring protesting some days ago said, evil or danger for the masses. Â&#x2022;Â&#x20AC;^]  }j^] [\q^v}[^p] Â&#x17D;½bh^~[qw] This is common, especially in and for too long, the unenviable the All Progressives Congress and anti-democratic culture of (APC) where primary election imposition of party leaders and will be scrapped for the political leaders on our people anointed candidate of one â&#x20AC;&#x2DC;Baba as practiced in Lagos State since Okeâ&#x20AC;&#x2122; or â&#x20AC;&#x2DC;Baba Isaleâ&#x20AC;&#x2122;. the past 11 years.â&#x20AC;? It is on that note that some The ruling party in Lagos aggrieved APC members, must, therefore, stop imposing numbering over 500 recently candidate on the voters, there protested at the Lagos State should be primaries election House of Assembly, to condemn that will be free and fair and what they described as the if there should be consensus culture of imposition and lack among the partyâ&#x20AC;&#x2122;s aspirants, of internal democracy in their none of them should be coerced party. or threatened at a gun point to Many have expected the step down for the anointed one, culture of imposition to have it must be on their own volition. died with ACN which have ph9^v^~[] [}[^ Â&#x;] }qq]  h ] ^9\v[ ] vote for the candidates of their In the same vein, the metamorphosed into APC were frustrated and he was choice based on what he has to traditional rulers should be the having formed alliance with later forced to resign from the \9^v] }~p] ~\[] \~]  h ] v^qh|h\~Â&#x2030;] father to all the governorship other political parties to form a \½b^Â&#x2C6; whom he knows, his previous aspirants and stop campaigning Coming back to Lagos politics, position etc. Therefore, that or showing sentiments for any strong opposition party, but it is unfortunate that the wish of where the ruling party is APC, somebody has served the state candidates or few who consider themselves the race for governorship as Accountantany party so as the custodians of electoral election has started indirectly General is not as not to loose rights is still the command of and it is unfortunate that the license for the remaining a monarch, speaking for anybody others. or infinitesimal It is for that reason that the the godfather, was denying group of people honour and the majorityâ&#x20AC;&#x2122;s aspirations Peoples Democratic Party to force him on respect the (PDP) is regarded by many as by imposing the anointed the inhabitants \½b^] [ ^w] }v^] the only true democratic party candidate on the electorates of the state. occupying in Nigeria, where everybody is }~p] [ ^v^Â&#x2013;w]  Â&#x17D;Kh~|] [ ^] p\\v] For instance, commands. somebody and where nobody against other aspirants, even the former However, while the primary election A c c o u n t a n t  } ][ ^]Â&#x2122;~}q] }wÂ&#x2C6;] since the royal It will be recalled that as has not been held and while General of the fathers are powerful as Chief Olusegun the said anointed candidate F e d e r a t i o n , also entitled Obasanjo was while in the has not made his manifesto Alhaji Ibrahim to their own \½b^] } ] [ ^] v^ hp^~[Â&#x2030;] Â&#x2021;}~w] known to the electorate. That D a n k w a m b o , opinion, they member of his party kicked undemocratic act can be performed well can express against him when he was trying tantamount to danger for the while he was it by casting to accommodate ibode for Lagosians because democracy in civil service their votes for Nigeria in the name of â&#x20AC;&#x153;third is being turned to autocracy. and when he the candidates With the 15 years of civilian showed interest term agenda.â&#x20AC;? of their choice In the same vein, as strong rule in Nigeria, the country to become the but they to be improving governor of his as Bamangar Tukur is, some ought should not PDP governors worked against democratically and the era of state, he was expect their him as the chairman of the imposition of candidates on the not forced on wish to be the party, when they perceived he populace should be fading away. the electorate command of was accommodating ibode for The voters should be allowed by the late Emir the electorates. the political structure of their to access all the aspirants and of Gombe, It is also
T
That undemocratic act can be tantamount to danger for Lagosians because democracy is being turned to autocracy
important for all political parties to obey the Section 99 of the electoral Act which states: â&#x20AC;&#x153;For the purpose of this act, the period of campaign in public by every political party shall commence 90 days before polling day and shall end 24 hours prior to that day.â&#x20AC;? Counting from the date set by INEC for gubernatorial and State Assembly election on February 28, 2015 means that campaign must start not later than November 29 and end on February 26, 2015, which is 24 hours before the end of the 90 days stipulated in the Act. The INEC on her part must not hesitate to penalise any political party that violates the Act by making sure that they `}w] [ ^] Â&#x2122;~^] \x] ¨¤¤Â&#x2030;] ¤¤¤] } ] many times, they violate the rule of the game. The party members like New Lagos Movement and other electorate on their parts must not allow any godfather to accommodate ibode for them or bring them into bondage in the name of zoning, religion, past achievement etc. Instead, the best and the right candidates who will build on the achievements of the incumbent and be creative enough to surpass the achievement of the incumbent must be voted for. In conclusion, it is not disputed that Mr. Akin Â&#x2021;Â&#x2013;\p^] h ] šÂ&#x17D;}qhÂ&#x2122;^p] [\] contest for the governorship post in Lagos, but his šÂ&#x17D;}qhÂ&#x2122;b}[h\~] Â&#x2021;Â&#x17D; [] ~\[] Â&#x2013;^] [ ^] ph šÂ&#x17D;}qhÂ&#x2122;b}[h\~] x\v] \[ ^v] qualify candidates. There should be room for collective freedom because one of the dividends of democracy is freedom: freedom of speech, freedom of association, freedom to vote and the freedom to be voted for etc. Therefore, no one should use his freedom to put others in bondage. !"#$%& '& ()!* +& ',' -.& '/'*#.0%& 1- 0$.& /& 2-"3& '4".%& 4$- '& 5 '& "6/0". /789#'6"": +"3:&;7<=>8<>?@@7?7
27
SUNDAY NEWSWATCH, AUGUST 10, 2014
OPINION
)H *(H #H '$"H ) H $' #<H , ' H + (H #H # ' ! ).H )$$ H ) 'H ($*' ;H '()<H %' <H , #H ) #H ' # !.H !! # H (H .' )$'H #H , )(H $ H (*%' " .<H ) ' .H ! # H)$H (H -%*!( $#H '$"H (H - !) H ' !"H$ H $#$*'H !$# H, ) H H( H) ' H $ H) H # ! H $' H # H + 'H( # H (H ) H ( ) # H # $"H #H ($H + $*(H #H *'# # H $*)H + () ) # H + (H $ H ' ) # # H " #( $#(;H ) ', ' (H " H ) H ' ( # H !!H $ H " #H , ) H ) H ' )H ($ # H ) '$* H ) H #+ ') ' ) H, # ((H$ H ) 'H "H $+ 'H ) H ) "%) ) $#H $ H (H D# (( '.H + !EH $"% # $#H !! H + H # H , ) H ) ( H ),$H $" # H % 'H $ H %' H # H ($ # <H " #<H '' (% ) + H $ H ' <H # '<H % " #) ) $#<H # ) $# ! ).<H' H # H() )*(<H (H #$,#H #$H% H #H' !H( #( ;H ' #) <H #$H " KH 'H #H , )($ + 'H $'"H (H #.H" #H # $, <H#$# H (H$'H ,$*! H + 'H$*), )H $ H #H #.H ' H # H + #H )H) )<H) H()$'.H$ H" # # H,$*! H + H)*'# H 9H ' #)!.H H ) 'H "<H H# ) $<H H#$)H # $# H (H' !"H $ H *) $' ).H # H ( 'H ' (%$#( ! ).<H *( H $ H (H $#(% *$*(H # ') H , #H + E(H , ! H + ( )$'<H ) H '% #)<H " H !! # H #H ) 'H # H $" ;H (.H # ' # <H ' (*!) #)H + (H # H ' ! ) H ($ ) !H !!(H #H$*'H $#) "%$' '.H( KH # H #H H )' H H )$H ) H ' $,#H $ H $# 5+ ')*$*(H ) (H # H $%) 5 () # ' (H $ H #) ' ).<H $#$*'<H " ' )<H $# * )H # H'$! 5 -% ) ) $#B (% !!.H $#H) H $" H '$#)C;H #H %H' H ) $#<H $*'H - () # H($ ! ( ) $#H%'$ (( (H + H #H ($H $"%'$" ( H # H .(" !!.H () ' ( H ) )H )H $ ) #H ' &* ' (H ) H %'$+ ' !H ' )H $ H ) H # #)H )$')$ ( H )$H(*'+ + H #H) (H *# ! 5,$'! H, ' #H #.) # H% (( !.H $ (;
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Dr. Olutunde John Olarinde Veterinary Surgeon/Clinician Tel: 08107801331 E-mail: straitgate_cpts@yahoo.co.uk
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Sunday Newswatch, August 10, 2014
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Adegboye and 13 of his siblings are into the gospel, either as preachers or spouses to preachers. Rev. Paul Jinadu Rev. Jinadu was born in Lagos in 1942 into a Muslim family; Paul Jinadu was a devout Muslim from childhood. He left Nigeria for the United Kingdom in 1957 to continue his secondary education. While in England, he was invited to a crusade where he witnessed the miracle working power of God. The Lord appeared to him, melted his heart and he gave his life to Jesus Christ as his Lord and Saviour. Soon after becoming a Christian, he abandoned his plan of becoming a medical doctor to answer the call of God into full-time ministry. He is the General Overseer of New Covenant
Eebudola Bakare because his father died when he was still young. After receiving Christ, Pastor Tunde Bakare dropped his Muslim name, baptised himself and named himself Gbolahan. His mother later dropped her Islamic religion of so many years to become a Christian through the exemplary lifestyle and the victorious Christian experience of her son, who never verbally preached to her
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ishop David Oyedepo Bishop David Oyedepo is one of the pioneers of the Christian Charismatic Movement in Africa yet he was raised in a mixed religious family. His father, Ibrahim, was a Muslim healer while his mother, Dorcas, was a member of the Eternal Order of the Cherubim and Seraphim Movement (C&S). He was raised by his grandmother in Osogbo, Osun State, who introduced him to the virtues of Christian life via early morning prayers which, she attended with him. She also taught him the importance of tithing. David got â&#x20AC;&#x153;born againâ&#x20AC;? in 1969, through the influence of his teacher, Betty Lasher, who took special interest in him during his high school days. David Oyedepo is one of the most powerful preachers in Nigeria today.
Rev. George Adegboye Rev. George Adegboye is the President and Founder of Rhema Chapel International Churches with headquarters in IIorin, Kwara State. His father was a Muslim before he converted to Christianity after having his children. George Adegboye was a former lecturer at the Kwara State Polytechnic, Ilorin before he went into full time ministry. He is versatile in quoting the Bible off hand such that he is referred to as â&#x20AC;&#x153;mobile Bible.â&#x20AC;?
Church. Rev. Emmanuel Olasupo Rev. Emmanuel Olasupo Ajao was born in 1944. He had a Muslim parentage but got born again in 1974. He worked with Mobil Oil for over a decade before becoming an Independent Petroleum Marketer, where he owned and ran a chain of filling stations in Ibadan. Shortly after conversion, he met Rev. Paul Jinadu and has remained his disciple ever since. He is the Deputy General Overseer of New Covenant Church. Pastor Tunde Bakare Pastor Tunde Bakare was born into a Muslim family; he did not grow up with his dad but was single handedly raised by his mother, Madam Abigail
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once. Pastor Tunde Bakare is the founder of the Latter Rain Assembly.
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Pastor Matthew Ashimolowo Pastor Ashimolowo is the Senior Pastor of Kingsway International Christian Centre (KICC). He converted to Christianity from Islam at the age of 22 after the death of his father before enrolling with a Bible school. He is the founder of Kingsway International Church Centre. The church has its headquarters in the UK. Prophet Moses Muyideen Kasali He is the General Overseer of Hour of Mercy Prayer Ministry International, (aka. Baba Orioke Alasheyori, Ibadan). Prophet Kasali, who became blind at the age of three as a result of measles outbreak in his village, Sanu Ijaye, was the first to accept Christ in his family. His encoun ter with Christ was unique because nobody preached to him. Even as a Muslim, his father was said to love Christianity. Every he struggled through abject poverty. year, his father brought the best of his He was abandoned by friends and even farm produce to the church. All because family members. People thought he had he said he had a dream where he saw lost hope in him when God healed him. his son in the midst of a large crowd, Today, Prophet Taiwo Idris is the foundpreaching the gospel. er and General Overseer of Christ ReProphet Taiwo Idris vival Rain Mission at Mowe, Ogun State Pastor Idris was born a cripple and in the outskirt of Lagos.
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ou run Brand World, a corporate program on TV and you are also a publisher. How do you juggle all these roles? The true situation is that if you are extremely determined to achieve what your vision and mission is, the pillar you build upon is your focus. And looking at that focus, you have to look at how you balance it with other areas of your life. I look at everything as investment; you invest your time,
energy, resources and money into your private life and your career and I know all how to balance it to be able to be productive at the end. Before delving into media business, did you consider the financial implication? Not really, if you did as a business person or as entrepreneur, starting up a business could definitely scare you off. Somebody asked me a similar question few months back and said between idea and money,
which come first and I said to him if the idea is good, the money will chase it. So, the most important thing is to do your plan, set aside your strategies, your process and then look for where money can chase that idea. You should endeavour to use your income, expenditure, cash flow and profit on that business. It is also an-going scenario, you donâ&#x20AC;&#x2122;t have money starched waiting for you, itâ&#x20AC;&#x2122;s a way of delivering value to somebody and they are also exchanging their money for the
value you are delivering to them. Considering the harsh economy affecting small scale businesses in Nigeria, has there been any form of return to the pulse of your company? Definitely, for 12 years if I have been wasting my time then, I would have called myself a fool. That is what I will call myself. Like I told you, itâ&#x20AC;&#x2122;s a continuous process because as the money comes in, you as well plan way back into the business to stay afloat. You continue to run the business so as to pay the bills - such as rent, staff and all that. If all these are well taken care of, and some are still left in your purse, I mean the sky is your limit. How have you been able to cope over the years with the level of saturation in the media industry? That means I have to be on my toes and look at other avenues and opportunities to divert my business in order to remain relevant outside the media. It doesnâ&#x20AC;&#x2122;t mean I have to stay focused on media alone. I have to look at other lines of business that pull support for my media business. As Iâ&#x20AC;&#x2122;m doing now, Iâ&#x20AC;&#x2122;m exploring other areas like investing into events, partnership with international organisation to be able to represent them and activate their business here in Nige-
ria. Things like looking into real estate that could help the foreign investor. That is what I do now basically to sustain my other businesses. Between print and electronic media, which are you mostly passionate about? They both have their advantages. The electronic media delivers in a way that the print is disadvantaged, because you have the audio and visual combined and the memory stays with you long after, even if you didnâ&#x20AC;&#x2122;t hear what they said, the pictures remain imprinted in your memory. While for print media, it is there forever. You can always go back 10, 20 years to pick up that material and read it all over again. Rarely, can you do that with TV. Publishing in Nigeria seems to be capital intensive. How have you been surviving? I do a lot of special projects and partner with several international organisations for events. So on the long run, I get participants for their events and I also get my commission in published adverts and events in our magazine. We really donâ&#x20AC;&#x2122;t sell our magazines, we only distribute free at the events in order to keep the readership very strong but we still source for advert here and there to survive. What were you doing before now? I used to work at an advertising agency, a company that specialises in producing documentaries. I first worked in the advertising agency for about three years, then had my internship in documentary production for another two years before I set out to establish a company in partnership with a friend. Unfortunately, we were not financially buoyant so my partner relocated to the United States of America, while I stayed back in Nigeria and diversified into advertising and TV production. Would you say your background prepared you for what you do now? Yes, it did because when I delved into advertising, it was such a fantastic exposure for me. How has the business fared so far? It has been extremely fulfilling, even though the money is not rolling in billions. Tell us about your educational back ground. I schooled all my life in Lagos. I attended Onward Nursery and Primary School and Methodist Girlsâ&#x20AC;&#x2122; Secondary School before I proceeded to the University of Lagos to study Guidance and Counselling.
Why did you dump a well paid job with Chevron Oil and Gas for your personal business? My parents were absolutely not happy about the decision initially, but now, Iâ&#x20AC;&#x2122;ve tried my possible best in fulfilling their expectation and they are so glad that I was able to make something out of that personal calling. But if I had been a complete failure, I donâ&#x20AC;&#x2122;t think they would have been happy with me. Looking at the achievements, I think it has really given them so much joy and fulfilment as parents because they were afraid when I decided to quit my â&#x20AC;&#x2DC;lucrativeâ&#x20AC;&#x2122; job at Chevron to start my own business. As for reasons for the professional â&#x20AC;&#x2DC;portingâ&#x20AC;&#x2122;, I would say it was my adventurous nature that was at play. Who is Clara Okoro? Iâ&#x20AC;&#x2122;m just a regular, laid-back, simple person but also complex within that simplicity because something that appeal to many might not appeal to me and something that appeal to me may not appeal to several people. Iâ&#x20AC;&#x2122;m an abstract person. The creativity that flows through my blood seems to make a lot of meaning to me, so itâ&#x20AC;&#x2122;s that kind of thing that attracts my personality that also makes it difficult for me to specifically say this is the kind of person I am. Tell us about your marital life. That is a no-go area. Iâ&#x20AC;&#x2122;m extremely a private person. Iâ&#x20AC;&#x2122;m sorry if Iâ&#x20AC;&#x2122;m going to disappoint you on that. Cuts in...But people will like to know the man behind your success. That is the most kept secret that canâ&#x20AC;&#x2122;t be divulged for now. What has life taught you? Life has taught me not to expect too much from people. What is your definition of love? Sacrifice. You have to be able to sacrifice yourself to your partner in good or tough situation. How would you describe your kind of man? He is a very laid-back person and very quiet as well. He understands my personality and respects it and I also understand his person and I respect it extremely. Have you ever been heartbroken? Of course, Iâ&#x20AC;&#x2122;ve had few failed relationships but I never allowed it to get to me but we are still friends because at the end, you never can tell who would be of help to you in future. So that is the way I see life, so to speak.
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Adesojiâ&#x20AC;&#x2122;, an inspirational grass to grace story that captures the life of Ogbeni Rauf Adesoji Aregbesola, Governor of Osun State was premiered last week in Osogbo. Starring movie notables like Lere Paimo, Kareem Adepoju, Bukky Wright, Adewale Elesho, Alhaji Ade Adenrele, Bola Obot among others, Adesoji dramatically displayed the making of Ogbeni Rauf Aregbesola. Viewers were amazed with untold stories about his birth, his revolt against cheating while in the primary school, his life as a bachelor, meeting his wife and many more. Akin Olu-Philips, the director of the movie said: â&#x20AC;&#x153;This motion picture is an attempt to share with the general public a compacted presentation of some of the life experiences that formed the person of Aregbesola. I believe it will guide the public to have a better understanding of his person and be inspired thereby.â&#x20AC;? According to the Executive Producer, Mr. Razaque Animashaun, it is intended as a motivating material as it highlights Ogbeniâ&#x20AC;&#x2122;s personal and political life.
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igh Chief (Mrs.) Sandra Duru, owner of the United Nations recognised NGO, Pre -Adult Affairs Organisation, has picked a new husband. Lady Sandra, on Saturday, tied nuptial knot with her childhood lover, Emanuel Ebuka Eluobi, a Nigerian international football star based in India. The couple were at Ikoyi Registry to exchange marital vow in the presence of the two families before the party train moved to Ikeja for the entertainment of guests. The happygo-lucky couple were in their social best, beaming with smiles throughout the private wedding ceremony.
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ven when many believe he has gone into oblivion and no longer relevant politically, former speaker of the Federal House of Representatives, who was not too long ago, acquitted of corruption charges, Mr. Dimeji Bankole, has been busy investing his wealth in a mega hotel. Coming from a reliable source is that the hotel which operates under the business name of Grand Break Link Hotel, was declared as well furnished, and boasts of up-to-date facilities with a spacious conference centre, skilfully put together restaurant and grand accommodation. Visitors confirmed the major investment is located close to former President Olusegun Obasanjoâ&#x20AC;&#x2122;s popular higher institution, The Bells University, Ota, Ogun State.
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he Free Medical Outreach campaign initiated by Dr. Leke Pitan and his friends, under the aegis of the Nigerian Medical Association (NMA), Association of General and Private Medical Practitioners of Nigeria (AGPMPN) and Medical Women Association of Nigeria (MWAN) Lagos State Chapters got underway last Monday with a massive turn-out of residents of Alimosho constituency of Lagos State. In a rare show of gratitude, residents of Idimu, Ikotun, Ipaja, and Ayobo axis of Alimosho constituency trooped out in large numbers to benefit from the free medical services being provided. Held at the school premises of Idimu Community Primary School, Idimu and African Church Primary School, Mosan, Ipaja, the exercise, under the professional expertise of qualified, experienced and specialist doctors from the three medical professional bodies, led by Dr. Leke Pitan himself, attended to various health challenges of the general public and dispensed drugs free of charge. The team also conducted onthe-spot eye screening, and gave out free eye glasses to beneficiaries drawn from the two axis of Alimosho constituency. In addition, residents comprising men, women, children and students from tertiary institutions in Alimosho were also given free medical consultation and screening on cancer, hypertension, diabetes, urine and general check-up. A beneficiary, Mrs. Jumoke Badru, commended the ex-Lagos Health Commissioner, saying: â&#x20AC;&#x153;This is a laudable policy by Dr. Leke Pitan. I am sure a lot of our people would take advantage of this to benefit from
# . *. . # *. ! #! '. % . !. " ! *. !. "). ." . . ! "'. # . " !!. % !. " '.! K. . ". . !. $ "*. . # " . . '. # ). . " . !. . . . # '*. .( ! *. . %. & " ." .! . *.% .! # !. ! .% # . . $ . '. ".! . %). !.' *. . #!" '.% " !. !. ". . .! . *. !. # . !.% . ! ". !.! . . . . . " !) it as I have also benefited.â&#x20AC;? Personally led by Dr. Leke Pitan, the free medical outreach team aims at providing free medical services to all 20 Local Government Areas and 37 Local Council Development Areas of Lagos State. In a chat with the Media Consultant to Dr. Leke Pitan Campaign Organisation, Mr. Tunji Oguntuase, â&#x20AC;&#x153;the free medical outreach is a demonstration of Leke Pitanâ&#x20AC;&#x2122;s professional pedigree and personal commitment to providing peopleoriented policies with focus on grassroots development and empowerment to the people of Lagos State.â&#x20AC;?
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52
SUNDAY NEWSWATCH, AUGUST 10, 2014
EXECUTIVE EDUCATION
Best leaders â&#x20AC;&#x2DC;talk the walkâ&#x20AC;&#x2122; Bill Taylor
O
ne of the most ubiquitous aphorisms in business is that the best leaders understand the need to â&#x20AC;&#x153;walk the talkâ&#x20AC;? â&#x20AC;&#x201D; that is, their behaviour and day-to-day actions have to match the aspirations they have for their colleagues and organization. But the more time I spend with game-changing innovators and high-performing companies, the more I appreciate the need for leaders to â&#x20AC;&#x153;talk the walkâ&#x20AC;? â&#x20AC;&#x201D; that is, to be able to explain, h~] q}~|Â&#x17D;}|^] [ }[] h ] Â&#x17D;~hšÂ&#x17D;^] [\] [ ^hv] Â&#x2122;^qp] }~p] compelling to their colleagues and customers, Â&#x20AC; w]Â&#x20AC; }[][ ^w]p\]Â&#x2021;}K^v ]}~p] \Â&#x20AC;][ ^w]^_`^b[] to win. The only sustainable form of business leadership is thought leadership. And leaders [ }[] [ h~Â&#x161;] ph9^v^~[qw] }Â&#x2013;\Â&#x17D;[] [ ^hv] Â&#x2013;Â&#x17D; h~^ ] h~j}vh}Â&#x2013;qw][}qÂ&#x161;]}Â&#x2013;\Â&#x17D;[]h[]ph9^v^~[qw]} ]Â&#x20AC;^qqÂ&#x2C6; I saw the power of language come to life earlier this summer when I made an eye-opening visit to a day-long orientation held every six weeks or so for new employees of Quicken Loans, the online mortgage lender based in Detroit and \Â&#x20AC;~^p]Â&#x2013;w] h| Â`v\Â&#x2122;q^]Â&#x2013;hqqh\~}hv^] }~] hqÂ&#x2013;^v[Â&#x2C6;] Quicken Loans is known for lots of things, from torrid growth (the company closed a record $80 billion worth of home loans last year, up from $70 billion in 2012), to much-praised customer service (it is a perennial JD Power customersatisfaction winner), to its intense and outgoing corporate culture. But behind it all, at the heart
of the companyâ&#x20AC;&#x2122;s approach to strategy, service, }~p]bÂ&#x17D;q[Â&#x17D;v^Â&#x2030;]h ]}]q}~|Â&#x17D;}|^] w [^Â&#x2021;][Â }[]p^Â&#x2122;~^ ] life inside the organization and reminds everyone what really drives success. \Â&#x17D;~p^v] }~] hqÂ&#x2013;^v[]}~p] ] hqq] Â&#x2021;^v \~] call this language the companyâ&#x20AC;&#x2122;s â&#x20AC;&#x153;Ismsâ&#x20AC;? â&#x20AC;&#x201D; which is why the rollicking, fast-paced, eighthour orientation session is called â&#x20AC;&#x153;Isms in b[h\~Â&#x2C6;Â ] hqÂ&#x2013;^v[] }~p] Â&#x2021;^v \~Â&#x2030;] Â&#x20AC;Â \] `v^ ^~[] separately and together over the entire eight hours â&#x20AC;&#x201D; an executive teaching marathon unlike anything I have seen before â&#x20AC;&#x201D; march employees through the companyâ&#x20AC;&#x2122;s 18 Isms, with a combination of slide shows, stand-up humor, war stories from the trenches, and unabashed appeals to the heart. A few of the Isms get covered in 10 or 15 minutes, some take an hour. But the end result is a full-day immersion in a whole new language â&#x20AC;&#x201D; a â&#x20AC;&#x153;vocabulary of competitionâ&#x20AC;? that sets the company apart in the marketplace and holds people together in the workplace. ~][Â ^]p}w] ]}K^~p^pÂ&#x2030;]Â&#x2021;\v^][Â }~]}][Â \Â&#x17D; }~p] participants crowded into a ballroom in the }vvh\K] ^~}h }~b^] ^~[^v] \~] [Â ^] Â&#x2013;}~Â&#x161; ] \x] [Â ^] ^[v\h[] hj^vÂ&#x2C6;] hqÂ&#x2013;^v[] }~p] Â&#x2021;^v \~] Â&#x17D;v|^p] their new colleagues to embrace the idea that, â&#x20AC;&#x153;The inches we need are everywhere around usâ&#x20AC;? â&#x20AC;&#x201D; in other words, there are countless small opportunities for people to tweak a product, or improve a process, that lead to big wins in the marketplace. They insisted, no excuses allowed,
that everyone agree with the Ism, â&#x20AC;&#x153;Responding with a sense of urgency is the ante to play.â&#x20AC;? hqÂ&#x2013;^v[] `^v \~}qqw] ^Â&#x2021;` } hÂł^p] }|}h~] }~p] again, sometimes with jokes, sometimes with withering disdain, the absolute requirement that Quicken employees return every phone call and every email on the same business day they were received. â&#x20AC;&#x153;We are zealots about this,â&#x20AC;? he thundered, â&#x20AC;&#x153;we are on the lunatic fringe. And if youâ&#x20AC;&#x2122;re â&#x20AC;&#x2DC;too busyâ&#x20AC;&#x2122; to do it, Iâ&#x20AC;&#x2122;ll do it for youâ&#x20AC;? â&#x20AC;&#x201D; at which point he gave out his directdial extension and promised to return phone calls for any overwhelmed colleagues. ~] }~p] \~] h[] Â&#x20AC;^~[] Ă&#x2014;] xÂ&#x17D;~~w] [\vh^ Â&#x2030;] Â&#x17D;v^Â&#x2030;] sage pieces of advice, a quick history of the company. But mainly an urgent iteration and reiteration of the companyâ&#x20AC;&#x2122;s Isms: â&#x20AC;&#x153;Numbers and money follow, they do not lead.â&#x20AC;? â&#x20AC;&#x153;Innovation is rewarded, execution is worshipped.â&#x20AC;? â&#x20AC;&#x153;Simplicity is genius.â&#x20AC;? In business leadership, as in all forms of q^}p^v  h`Â&#x2030;] Â&#x20AC;\vp ] Â&#x2021;}K^vÂ&#x2C6;] ~p^^pÂ&#x2030;] ^j^v}q] \x] [ ^] }K^~p^^ ] Â&#x20AC;h[ ] Â&#x20AC; \Â&#x2021;] ] `\Â&#x161;^] Â&#x20AC;^v^~Š[] new employees at all. Theyâ&#x20AC;&#x2122;d come back for a refresher, a reminder, an opportunity to spend a day reacquainting themselves with the q}~|Â&#x17D;}|^][ }[]p^Â&#x2122;~^ ]qhx^]}[] Â&#x17D;hbÂ&#x161;^~] \}~ Â&#x2030;]}] chance to spend a day watching the founder }~p][ ^] ]Â&#x2022;[}qÂ&#x161;][ ^]Â&#x20AC;}qÂ&#x161;Â&#x2C6; So ask yourself, as you try to lead an
Taylor
organization, or a business unit, or a department: Have you developed a vocabulary of competition that helps everyone understand what makes your company or team special and what it takes for them to be at their best? }~] w\Â&#x17D;] ^_`q}h~Â&#x2030;] h~] }] q}~|Â&#x17D;}|^] }qq] w\Â&#x17D;v] \Â&#x20AC;~Â&#x2030;] what separates you from the pack and why you expect to win? Even as you make sure to walk the talk, do you know how to talk the walk?
Taylor is cofounder of Fast Company magazine and author of Practically Radical: Not-So-Crazy Ways to Transform Your Company, Shake Up Your Industry, and Challenge Yourself
If youâ&#x20AC;&#x2122;re always working, youâ&#x20AC;&#x2122;re never working well
I
n early April a series of reports appeared online in the United States and the United Kingdom q}Â&#x2021;^~[h~|][ ^]Â&#x2022;q}Âłw] v^~b Â&#x2C6; ]] ]~^Â&#x20AC;]q}Â&#x2013;\Â&#x17D;v]q}Â&#x20AC;]h~] v}~b^] }p]}``}v^~[qw]Â&#x2013;}~~^p]\v|}~hÂł}[h\~ ]xv\Â&#x2021;] ^ÂÂ&#x2021;}hqh~|][ ^hv]^Â&#x2021;`q\w^^ ]}-^v]¡]`Â&#x2C6;Â&#x2021;Â&#x2C6;] ~]x}b[Â&#x2030;]h[][Â&#x17D;v~^p]\Â&#x17D;[] [\]Â&#x2013;^]Â&#x2021;\v^]}]b} ^]\x]Â&#x2022;q}Âłw]²\Â&#x17D;v~}qh [  ][ }~]Â&#x2022;q}Âłw] v^~b  ¹] as The Economist explained, the â&#x20AC;&#x153;lawâ&#x20AC;? was not a law at all but a labour agreement aimed at improving health }Â&#x2021;\~|]}] `^bhÂ&#x2122;b]|v\Â&#x17D;`]\x]`v\x^ h\~}q Â&#x2030;]}~p][ ^v^]Â&#x20AC;} ~Š[] even a hard curfew for digital communication. Like all myths, however, this one revealed a set of abiding values subscribed to by the folk who perpetuated it. Brits and Americans have long suspected that the v^~b ] ÂŤ}~p] \[ ^v ÂŹ] }v^] |\\Â&#x2122;~|] \9] Â&#x20AC; hq^] [ ^w] Ă&#x2014;] [ ^] good corporate soldiers â&#x20AC;&#x201D; continue to toil away. Theyâ&#x20AC;&#x2122;re `v\Â&#x17D;p]}Â&#x2013;\Â&#x17D;[]h[][\\Â&#x2C6;] ] }qqÂ&#x17D;`]`\qqÂ&#x2030;]v^q^} ^p]h~] }wÂ&#x2030;]x\Â&#x17D;~p] that most U.S. workers see their constant connection with \½b^Â&#x2021;}[^ ]} ]}]`\ h[hj^Â&#x2C6;]] ~][ ^]}|^]\x][ ^] Â&#x2021;}v[` \~^Â&#x2030;] thereâ&#x20AC;&#x2122;s no such thing as â&#x20AC;&#x153;downtime,â&#x20AC;? and we profess to be happier â&#x20AC;&#x201D; and more productive â&#x20AC;&#x201D; for it. v^]Â&#x20AC;^Â&#x2030;][ \Â&#x17D;| Ă&#x2DC;] -^v]v^jh^Â&#x20AC;h~|][ \Â&#x17D; }~p ]\x]Â&#x2013;\\Â&#x161; Â&#x2030;] articles and papers on the topic and interviewing dozens \x]^_`^v[ ]h~]Â&#x2122;^qp ]xv\Â&#x2021;]~^Â&#x17D;v\Â&#x2013;h\q\|w]}~p]` wb \q\|w][\] education and literature, I donâ&#x20AC;&#x2122;t think so. When we accept this new and permanent ambient workload â&#x20AC;&#x201D; checking business news in bed or responding to coworkersâ&#x20AC;&#x2122; emails during breakfast â&#x20AC;&#x201D; we may believe that we are dedicated, [hv^q^ ]Â&#x20AC;\vÂ&#x161;^v Â&#x2C6;] Â&#x17D;[Â&#x2030;]}b[Â&#x17D;}qqwÂ&#x2030;]Â&#x20AC;^Šv^]Â&#x2021;\ [qw]²Â&#x17D; []|^Kh~|] the small, easy things done. Being busy does not equate [\]Â&#x2013;^h~|]^9^b[hj^Â&#x2C6; ~p]q^[Š ]~\[]x\v|^[]}Â&#x2013;\Â&#x17D;[]}Â&#x2021;Â&#x2013;h^~[]`q}wÂ&#x2030;]Â&#x20AC; hb ]\-^~] distracts us from accomplishing our most important [} Â&#x161; Â&#x2C6;] }b^Â&#x2013;\\Â&#x161;] }~p] Â&#x20AC;hK^v] v^`\v[] [ }[] [ ^hv] h[^ ] }v^] Â&#x2021;\ []}b[hj^]pÂ&#x17D;vh~|]\½b^] \Â&#x17D;v Â&#x2C6;] -^v]}qqÂ&#x2030;][ ^]^Â&#x2021;`q\w^^] whoâ&#x20AC;&#x2122;s required to respond to her boss on Sunday morning will think nothing of responding to friends on ^p~^ p}w] }-^v~\\~Â&#x2C6;] ~p] v^ ^}vb ]  \Â&#x20AC; ] [ }[] [ ^ ^] digital derailments are costly: itâ&#x20AC;&#x2122;s not only the minutes lost responding to a tweet but also the time and energy required to â&#x20AC;&#x153;reenterâ&#x20AC;? the original task. As Douglas ^~[hq^Â&#x2030;] }] `v\x^ \v] }[] \Â&#x20AC;}] [}[^] ~hj^v h[w] Â&#x20AC; \] [Â&#x17D;ph^ ][ ^]^9^b[ ]\x]Â&#x2021;^ph}]\~]}K^~[h\~] `}~ Â&#x2030;]^_`q}h~ Â&#x2030;] â&#x20AC;&#x153;Everyone who thinks theyâ&#x20AC;&#x2122;re good at multitasking is wrong. Weâ&#x20AC;&#x2122;re actually multiswitching [and] giving ourselves extra work.â&#x20AC;? }b ]  h-]\x]x\bÂ&#x17D; ] ^[ ]\Â&#x17D;v]Â&#x2013;v}h~]Â&#x2013;}bÂ&#x161;]}~p]bv^}[^ ]}] bÂ&#x17D;Â&#x2021;Â&#x17D;q}[hj^]}K^~[h\~]p^Â&#x2013;[Â&#x2030;]v^ Â&#x17D;q[h~|]h~]}] }vvh^p]Â&#x20AC;\vÂ&#x161;x\vb^] incapable of producing sustained burst of creative energy. \~ [}~[]b\~~^b[h\~]Â&#x2021;^}~ ][ }[]Â&#x20AC;^Šv^]Â&#x2022;}qÂ&#x20AC;}w ]}[]Â&#x20AC;\vÂ&#x161; Â&#x2030;] yes, but also that weâ&#x20AC;&#x2122;re â&#x20AC;&#x153;never at workâ&#x20AC;? â&#x20AC;&#x201D; fully. People and organizations looking for brave new ideas \v] h|~hÂ&#x2122;b}~[] bvh[hb}q] [ h~Â&#x161;h~|] ~^^p] [\] v^b\|~hÂł^] that
disconnection is therefore sometimes preferable to connection. You donâ&#x20AC;&#x2122;t ask a jogger who just ran six miles to compete in a sprint, so why would you ask an executive whoâ&#x20AC;&#x2122;s been answering a pinging phone all morning to deliver top-drawer content at his next meeting? Some parts of the workforce do rely on constant realtime communication. But others should demand and be given proper breaks from the digital maelstrom.
Batch-processing email is one easy solution. Do it a few times a day and reserve the rest of your time for real work. Most colleagues and clients will survive without a response for three hours, and if itâ&#x20AC;&#x2122;s truly urgent, they can pick up the phone. The great tech historian Melvin Kranzberg said, â&#x20AC;&#x153;Technology is neither good nor bad, nor is it neutral.â&#x20AC;? That statement should become a real tenet of the information age. I donâ&#x20AC;&#x2122;t advocate abstinence
\v]Â&#x2013;q}~Â&#x161;^[]vÂ&#x17D;q^ ]qhÂ&#x161;^][ }[]Â&#x2122;b[h\~}q]`\ [¡]`Â&#x2C6;Â&#x2021;Â&#x2C6;]^Â&#x2021;}hq] ban. (Though, if you want to try unplugging for a weekend, check out my â&#x20AC;&#x153;analog Augustâ&#x20AC;? challenge.) However, I do think our cult of connectivity has gone too far. We canâ&#x20AC;&#x2122;t keep falling prey to ambient work or play. Instead, we must actively decide on \Â&#x17D;v]q^j^q]\x][^b ]^~|}|^Â&#x2021;^~[]}[]ph9^v^~[][hÂ&#x2021;^ ][\] maximize productivity, success, and happiness
How to brand a â&#x20AC;&#x2DC;uselessâ&#x20AC;&#x2122; degree Dorie Clark
G
raduation season is upon us â&#x20AC;&#x201D; and that means approximately 700,000 U.S. students will be receiving masterâ&#x20AC;&#x2122;s degrees and another 150,000 or so will be |^Kh~|][ ^hv]p\b[\v}[^ Â&#x2C6;] \v] \Â&#x2021;^Â&#x2030;][ ^]`}[ ]x\vÂ&#x20AC;}vp] is clear: the math experts will be snapped up by  ^p|^]xÂ&#x17D;~p Â&#x2030;][ ^] \-Â&#x20AC;}v^]^~|h~^^v ]Â&#x20AC;hqq] }j^][ ^hv] pick of start-ups, and elite investment banks and consultancies will duke it out for the top MBAs. But }] h|~hÂ&#x2122;b}~[]~Â&#x17D;Â&#x2021;Â&#x2013;^v]\x][ \ ^] [Â&#x17D;p^~[ ]Â&#x20AC;hqq]Âşh~|]\9] [ ^hv]Â&#x2021;\v[}vÂ&#x2013;\}vp ]\~qw][\]Â&#x2122;~p][ ^Â&#x2021; ^qj^ ]Â&#x2013;^v^-] of job prospects. \Â&#x17D;v[^^~] w^}v ] }|\Â&#x2030;] [ }[] Â&#x20AC;} ] Â&#x2021;^Â&#x2C6;] ] Â&#x20AC;} ] graduating with a masterâ&#x20AC;&#x2122;s degree in theological studies; aiming for a career in academia, I had Â&#x2013;^^~] Â&#x17D;K^vqw] Â&#x17D;~b\~b^v~^p] }Â&#x2013;\Â&#x17D;[] [ ^] `v}b[hb}q] applicability of my degree. But when I was turned down by every doctoral program I applied to, I suddenly needed a plan to earn a living. That led to a variety of professional adventures, ranging xv\Â&#x2021;] ²\Â&#x17D;v~}qh Â&#x2021;] [\] p\bÂ&#x17D;Â&#x2021;^~[}vw] Â&#x2122;qÂ&#x2021;ÂÂ&#x2021;}Â&#x161;h~|] [\] ~\~`v\Â&#x2122;[]Â&#x2021;}~}|^Â&#x2021;^~[][\] ^vjh~|]} ]}]`v^ hp^~[h}q] campaign spokesperson. But one of the hardest parts of the journey was [ ^]h~h[h}q] [^`]Ă&#x2014;]^~[^vh~|][ ^]Â&#x20AC;\vÂ&#x161;x\vb^]}-^v][Â&#x20AC;\] years of rigorous graduate studies and explaining my degree (no, I wasnâ&#x20AC;&#x2122;t training to become a minister) and, even more critically, its value in the marketplace. If youâ&#x20AC;&#x2122;ve earned a graduate degree that puts you on a less-than-certain professional trajectory â&#x20AC;&#x201D; one that naysayers may even declare â&#x20AC;&#x153;uselessâ&#x20AC;? â&#x20AC;&#x201D; here are a few strategies that have worked for me.  ^][vÂ&#x17D;[ ]h Â&#x2030;]w\Â&#x17D;v] Â&#x17D;Â&#x2013;²^b[]Â&#x2021;}K^v]Â&#x161;~\Â&#x20AC;q^p|^]Â&#x2021;}w] be irrelevant to anything going on in the business world today. Expert in ancient Roman politics? Biblical exegesis? South American literature? Anyone will want you at their dinner party â&#x20AC;&#x201D; but maybe not working at their company. Thatâ&#x20AC;&#x2122;s why you need to emphasize your skills, not your content expertise. In college (studying philosophy) and in
Clark
divinity school, I learned to read abstruse texts with careful comprehension, and fashion tight, logical arguments. Thatâ&#x20AC;&#x2122;s an applicable business skill, even hx] Â&#x20AC;hKw] Â&#x2013;}ph~}|^] }Â&#x2013;\Â&#x17D;[] [ ^] Â&#x20AC;vh[h~| ] \x]  \Â&#x2021;} ] Aquinas is not. Next, youâ&#x20AC;&#x2122;ll want to position yourself as a `\[^~[h}q]x\Â&#x17D;~[]\x]h~~\j}[h\~Â&#x2C6;] \Â&#x20AC;] \Ă&#x2DC;]  ^bÂ&#x161;]\Â&#x17D;[] [ ^]Â&#x20AC;vh[h~| ]\x][ h~Â&#x161;^v ]qhÂ&#x161;^] v}~ ] \ }~ \~Â&#x2030;]Â&#x20AC; \] }v|Â&#x17D;^ ] h~]  ^] ^phbh] 9^b[] [ }[] [ ^] Â&#x2013;^ [] hp^} ] arise from interdisciplinary intersections. Youâ&#x20AC;&#x2122;re ~^j^v]|\h~|][\]Â&#x20AC;h~][ ^]}v|Â&#x17D;Â&#x2021;^~[][ }[]w\Â&#x17D;Šv^]Â&#x2013;^K^v] šÂ&#x17D;}qhÂ&#x2122;^p][ }~] \Â&#x2021;^\~^]Â&#x20AC; \] } ] [Â&#x17D;ph^p]}]v^q^j}~[] business discipline â&#x20AC;&#x201D; or who has worked in the Â&#x2122;^qp]x\v]w^}v Â&#x2C6;] \]p\~Š[]^j^~][vwÂ&#x2C6;] \Â&#x17D;Šv^]ph9^v^~[qw] šÂ&#x17D;}qhÂ&#x2122;^pÂ&#x2030;]}~p]w\Â&#x17D;v]Â&#x17D;~hšÂ&#x17D;^]`^v `^b[hj^]Â&#x2021;}w]Â&#x2013;^]²Â&#x17D; [] what the company needs to move to the next level. Youâ&#x20AC;&#x2122;ll also want to cite your work experience. Many graduate students serve as research assistants, teaching fellows, or writing-center tutors â&#x20AC;&#x201D; and you may even have had internships h~]w\Â&#x17D;v]Â&#x2122;^qpÂ&#x2C6;]  \ ^]`v\jhp^]j}qÂ&#x17D;}Â&#x2013;q^]Â&#x2022;v^}qÂÂ&#x20AC;\vqp ] credentials that will likely be more impressive to `\[^~[h}q] ^Â&#x2021;`q\w^v ] [ }~] w\Â&#x17D;v] p^|v^^] h[ ^qxÂ&#x2C6;] }~]
you lead and inspire those in your charge (i.e., a classroom full of twenty skeptical undergrads)? Bridge cultural divides by enabling non-native ~|qh  ] `^}Â&#x161;^v ] [\] Â&#x2013;^K^v] ^_`v^ ] [ ^Â&#x2021; ^qj^ Ă&#x2DC;] \qj^] ph½bÂ&#x17D;q[] v^ ^}vb ] b }qq^~|^ ] }~p] Â&#x17D;~^}v[ ] crucial facts? Those are abilities that any workplace would covet. h~}qqwÂ&#x2030;] Šj^] x\Â&#x17D;~p] [ }[] Â&#x2021;w] [ ^\q\|w] p^|v^^] serves another, unexpected purpose: it allows me to make meaningful connections with the people around me. Some could care less, of course. But others have a personal interest in religion or [ ^\q\|wÂ&#x;] Â&#x20AC; ^~] [ ^w] Â&#x2122;~p] \Â&#x17D;[] }Â&#x2013;\Â&#x17D;[] Â&#x2021;w] [Â&#x17D;ph^ Â&#x2030;] theyâ&#x20AC;&#x2122;re eager to talk and share their own stories. Iâ&#x20AC;&#x2122;ve seen personal sides of colleagues that never would have come out otherwise â&#x20AC;&#x201D; their longing to Â&#x2122;~p]}]b}qqh~|Â&#x2030;]\v][ ^hv]\Â&#x20AC;~]x}h[ ]²\Â&#x17D;v~^wÂ&#x2C6;] ~]}]Â&#x20AC;\vqp] where business is driven by personal connections, itâ&#x20AC;&#x2122;s been a powerful vehicle to engage deeply with others. Many people have strong feelings about, or interest in, religion. But even if itâ&#x20AC;&#x2122;s a shared interest in geography, or urban planning, or British literature, it can be a powerful way to cement a relationship. In practical terms, my theology degree wasnâ&#x20AC;&#x2122;t relevant to my subsequent professional life (though ] php] Â&#x2122;~}qqw] Â&#x2021;}Â&#x161;^] h[] h~[\] }b}p^Â&#x2021;h}Â&#x2030;] [^}b h~|] }[] business schools in addition to my work as a strategy consultant). But it was very relevant to Â&#x2021;w]p^j^q\`Â&#x2021;^~[]} ]}] Â&#x17D;Â&#x2021;}~]Â&#x2013;^h~|Â&#x2C6;] v}p] b \\q] may or may not be worth it, depending on your individual goals and circumstances. But if youâ&#x20AC;&#x2122;ve taken the plunge and are now entering the work world, you owe it to yourself to make the best case possible in explaining its value to others. Dorie Clark is a strategy consultant and speaker for clients such as Google, Yale IEQ9;<EHRS= EF;?<?1S=GIK=HJ9= ?;CK= GIUV= J9= E<= GI= KWAIFH= ;?>9<<?;= ?>= A<EI9<<= Administration at Duke Universityâ&#x20AC;&#x2122;s A[AG= FJ??C= ?>= A<EI9<<S= GIK= GAHJ?;= ?>= 9EIQ9IHEI\= ?A]= 9^I9= ?A;= ;GIKS= LG\EI9= ?A;= AHA;9V
53
SUNDAY NEWSWATCH, AUGUST 10, 2014
JUST JUSTICE Assassination of NBA member: Lawyers raise concern over insecurity Ayo Olalere
T
he dust raised by the July 4, 2014 alleged assassination of a member of the Nigerian Bar Association (NBA), Ikeja branch, Kunle Fadipe, is yet to ^Kq^] } ] [ ^] Â&#x2013;v}~b ]  } ] ^_`v^ ^p] h[ ] sadness over the incident, and urged the new acting Inspector General of Police, Suleiman Abba, to prosecute the alleged master-minder of the act. The late Fadipe was assassinated at his Agege residence on July 4. Though his alleged assailant was apprehended, the branch is yet to come to terms with the death of one of its own. In a press release by the branch, it condemned the killing and said the h~bhp^~[] Â&#x20AC;} ] }] b\~Â&#x2122;vÂ&#x2021;}[h\~] \x] [ ^] state of insecurity in the country. â&#x20AC;&#x153;The NBA condemns the gruesome assassination of one of its prominent members, Kunle Fadipe. This incident h ] }] b\~Â&#x2122;vÂ&#x2021;}[h\~] \x] [ ^] [}[^] \x] insecurity in our nation. It is however heart-warming that Mr. Kunle Fadipeâ&#x20AC;&#x2122;s assailant was apprehended by local security agents. We commend the ^9\v[ ]\x][ ^]q\b}q] ^bÂ&#x17D;vh[w]}|^~[ ]}~p] wish to state that we are interested in the trial and prosecution of the case as we would not stand by and watch our dear colleague die in vain,â&#x20AC;? it stated. The branch further called on the police to improve the security in the country so as to prevent further occurrence of such incident. â&#x20AC;&#x153;We therefore call on the relevant agencies and security operatives to heighten the security measures in the country to ensure the safety and security of lives of the citizens of this country.â&#x20AC;? The branch also condemned the }Kh[Â&#x17D;p^ ] \x] [ ^] Â&#x2021;^~] \x] [ ^] h|^vh}~] Army following the death of one of its members who was knocked down by a LAGBUS driver on July 4. The branch stated that the destruction of public property by the Army in protest of the death of their colleagues was a violation of the law. â&#x20AC;&#x153;We decry the lawless and barbaric act of men of the Nigerian Army who Â&#x20AC;^~[]\~]v}Â&#x2021;`}|^]\~] Â&#x17D;qw]§Â&#x2030;]¥¤¼§]}-^v] one of its members was knocked down by a LAGBUS driver, killing, burning and destroying public properties particularly BRT buses. â&#x20AC;&#x153;In as much as we condemn the recklessness of the BRT driver, we equally condemn the reprisal act of destruction and molestation of innocent Nigerians by the soldiers because two wrongs cannot make a right. It is very sad that a very important agency, which prides itself to be disciplined, turned out to be agent of destruction of lives and properties.â&#x20AC;? The branch commended Governor Babatunde Fashola for his prompt v^ `\~ ^] h~] ^Kh~|] Â&#x17D;`] }] [ v^^ÂÂ&#x2021;}~] b\Â&#x2021;Â&#x2021;hK^^][\]q\\Â&#x161;]h~[\][ ^]h~bhp^~[Â&#x2C6; â&#x20AC;&#x153;We implore the Nigerian Army to emulate the Lagos State Government with a view to bringing the perpetrators of this evil to justice, \] } ] [\] v^Âş^b[] [ ^] h|^vh}~] vÂ&#x2021;^p] Forces in good light to the citizenry
The late Fadipe
of the nation as well as international community. Apart from the Nigerian Bar, the human rights lawyer and activist, Festus Keyamo, also petitioned the Inspector General of Police over the death of one Chris Onaghise. In the petition, which was signed by Keyamo and one Benedicta Obanye, the petitioner instituted a case of â&#x20AC;&#x2DC;culpable homicide against the management of Lagoon Restaurant, Lagosâ&#x20AC;&#x2122; over the death of Chris. The petition which was brought by Mr. Orobosa Onaghise through the Keyamoâ&#x20AC;&#x2122;s Chamber, stated that â&#x20AC;&#x153;the late Mr. Chris Onaghise (hereinafter referred to as â&#x20AC;&#x2DC;the deceasedâ&#x20AC;&#x2122;) is his son and until his demise, }] [}9]\x] }|\\~] Restaurant, Victoria Island, Lagos. Our client further informed us that on Monday June 16, 2014, he received a telephone call from a lady (who did not want to Â&#x2013;^] hp^~[hÂ&#x2122;^pÂŹ] informing him that something tragic had happened to the deceased at his workplace. Our client consequently rushed to the Lagoon
^ [}Â&#x17D;v}~[]Â&#x2013;Â&#x17D;[]p^ `h[^] h ]Â&#x2013;^ []^9\v[ Â&#x2030;] b\Â&#x17D;qp] \~qw] }vvhj^] [ ^v^] }-^v] [Â&#x20AC;\] ÂŤÂĄÂŹ] hours. Upon arriving at the Lagoon Restaurant, our client was informed that the deceased fell into the lagoon while on duty at about 10:00am that morning and was still in the lagoon.â&#x20AC;? The petition further stated that â&#x20AC;&#x153;our client demanded to know why ~\] hÂ&#x2021;Â&#x2021;^ph}[^] v^ bÂ&#x17D;^] ^9\v[ ] Â&#x20AC;^v^] made to rescue the deceased and one Mr. Rami, the Managing Director of the Lagoon Restaurant, informed our client that the restaurant had no life jackets, divers or indeed safety apparatus. Upon our clientâ&#x20AC;&#x2122;s persistence, the Managing Director invited a lady through a telephone conversation who hp^~[hÂ&#x2122;^p]  ^v ^qx] } ] }] \qhb^] ½b^v] from Bar Beach Police Station in charge of the investigations. â&#x20AC;&#x153;On enquiry as [\] [ ^] ^_[^~[] \x] investigations, our client was bluntly informed by the `\qhb^] \½b^v ] [ }[] investigations had been concluded and that she believed that the deceased slipped, fell into the lagoon and consequently lost his life. Our client was curious as to how the investigations could have been concluded when the body of the
NBA condemns the gruesome assassination of one of its prominent members, Kunle Fadipe. This incident $% & '()*+-&/$() (0 the state of insecurity in our nation. It is, however, heartwarming that Fadipeâ&#x20AC;&#x2122;s assailant was apprehended
deceased was still in the lagoon and none of the eye-witnesses or the management of the Lagoon Restaurant had been questioned. Our clientâ&#x20AC;&#x2122;s concerns were ignored by the `\qhb^] \½b^v] }~p] [ ^] p^b^} ^p] Â&#x20AC;} ] abandoned in the lagoon despite the agitations of our client till 10:00pm.â&#x20AC;? It went further: â&#x20AC;&#x153;Our client further h~x\vÂ&#x2021;^p] Â&#x17D; ] [ }[] [ ^] ~^_[] p}w] ÂŤ Â&#x17D;~^] 17, 2014), he visited the Bar Beach Police Station where he met with [ ^] hjh h\~}q] \qhb^] ½b^v] ÂŤ ÂŹ] and enquired about the recovery of the body of the deceased and further investigation, to our clientâ&#x20AC;&#x2122;s Â&#x17D;K^v]Â&#x2013;^Â&#x20AC;hqp^vÂ&#x2021;^~[Â&#x2030;][ ^] ]p^~h^p] Â&#x161;~\Â&#x20AC;q^p|^] \x] [ ^] ^_h [^~b^] \x] [ ^] case and the allegedly concluded investigations. The DPO subsequently ordered an investigation and an invitation of all the eye witnesses including the Managing Director of the Lagoon Restaurant. â&#x20AC;&#x153;The DPO subsequently directed a recovery of the body of the deceased. At about 10:00pm on Tuesday, 17th June, 2014, the body of the deceased was allegedly recovered from the same spot in which he was said to have slipped. A look at the body of the deceased showed bruises and blood stains all over the face, suggestive of a physical confrontation before the alleged drowning. To further b\~Â&#x2122;vÂ&#x2021;][ ^]x\v^|\h~|] Â&#x17D; `hbh\~ Â&#x2030;][ ^] deceased body did not show any signs of bowel enlargement consistent with drowning. â&#x20AC;&#x153;Following the alleged homicide, the petitioner further demanded to know in the petition â&#x20AC;&#x2DC;why is the obvious physical state of the body of the deceased inconsistent with the managementâ&#x20AC;&#x2122;s narration of events leading to the death? In the unlikely event that the management of Lagoon Restaurantâ&#x20AC;&#x2122;s account of event is accurate, what were the safety measures put in place by the management of the Lagoon Restaurant to prevent such occurrence, since it carries on business in a high-risk ^~jhv\~Â&#x2021;^~[Ă&#x2DC;]  w] Â&#x20AC;} ] [ ^] [}9] that called to inform our client of the incident sacked immediately? And why did the management of the Lagoon Restaurant break into the deceased personal locker while the key to the said locker was found on the deceasedâ&#x20AC;&#x2122;s body?â&#x20AC;? the statement read. The petition urged the IG to â&#x20AC;&#x153;use w\Â&#x17D;v] |\\p] \½b^] [\] \vp^v] }] xÂ&#x17D;qq] investigation and Coronerâ&#x20AC;&#x2122;s Inquest for the purpose of resolving the foregoing questions and consequently prefer criminal charges against all those found culpable as our client has become increasingly frustrated Â&#x20AC;h[ ] [ ^] ~\~b }q}~[] }Kh[Â&#x17D;p^] Â&#x20AC;h[ ] which the Bar Beach Police Station is handling the investigations and [ ^] p^ `^v}[^] ^9\v[ ] \x] vÂ&#x2C6;] }Â&#x2021;hÂ&#x2030;] the Managing Director of the Lagoon Restaurant (a Lebanese national) to conceal and destroy evidence that will aid the authorities to resolve all the queries raised by the foregoing facts.â&#x20AC;?
54
SUNDAY NEWSWATCH, AUGUST 10, 2014
Vibes NEWSWATCH
Tope Olukole tope.olukole@mydailynewswatchng.com 08082477041
SUNDAY NEWSWATCH, AUGUST 10, 2014
My music, reflection of my ideas â&#x20AC;&#x201C;Sheva At age nine, he received a piano as '&! -06_'#&4 `&'/_&.0'-0$_&(*'# /4& it. Soon, he mastered the art and added the acoustic guitar and 3")06& "-4'/& 0"& 0:& *06")46%& 6$& 1'.& +6- .0$/$_& "*'- /& #$/ & 6$& .&!$U$-&f/"1/&!#&6 .&.0'4$&/'3$%& Sheva. As a fast- rising Nigerian musician, he describes his sound '.& '*0$-/'0 5$& 6 (q6"(:& /& 06 .& interview with OKEY OBIOZO, 06$& '-0 .0$%& 16"& 6"*_.& '& '.0$-.& degree in Law, shares his intimate * 2$%&+-$'0 5 0#%&3). +&'/_&('.. "/:& You have a Masterâ&#x20AC;&#x2122;s degree in Law, why the incursion into music? ^\`q^] \-^~] } Â&#x161;] Â&#x2021;^] [ h ] šÂ&#x17D;^ [h\~Â&#x2C6;] ^ Â&#x2030;]h[]h ][vÂ&#x17D;^][ }[] ]  }j^] }] q^|}q] Â&#x2013;}bÂ&#x161;|v\Â&#x17D;~pÂ&#x2030;]  }jh~|] b\Â&#x2021;`q^[^p] Â&#x2013;\[ ] Â&#x2021;w] Â&#x17D;~p^v|v}pÂ&#x17D;}[^] }~p] } [^v Š] p^|v^^ ]h~] }Â&#x20AC;Â&#x2C6;] ]}Â&#x2021;]j^vw]`} h\~}[^] }Â&#x2013;\Â&#x17D;[]Â&#x2021;Â&#x17D; hbÂ&#x2030;] ^~b^Â&#x2030;][ ^]v^} \~]Â&#x20AC; w] ]p^bhp^p][\]^_`q\v^Â&#x2C6;]
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What was it like growing up? ^qqÂ&#x2030;] ]}Â&#x2021;]xv\Â&#x2021;]}]v^|Â&#x17D;q}v]Â&#x20AC;\vÂ&#x161;h~|] bq} ]  \Â&#x2021;^] h~] }|\ ] }~p] ] }Â&#x2021;] [ ^] q} []Â&#x2013;\v~]\x][Â&#x20AC;\]b hqpv^~]ÂŤ ] }j^]}~] \qp^v]Â&#x2013;v\[ ^vÂŹÂ&#x2C6; ] |v^Â&#x20AC;] Â&#x17D;`] h~] }|\ ] }~p] }K^~p^p] v}b^] b \\q ] h~] Â&#x2013;}|}p}Â&#x2C6;] ] Šp] }w] [ }[] ] Â&#x20AC;} ] `vhjhq^|^p] h~] [ ^] ^~ ^] [ }[] ] b\Â&#x2021;^] xv\Â&#x2021;] }]  \Â&#x2021;^] Â&#x20AC; ^v^] ^j^vw[ h~|] }] b hqp] Â&#x20AC;\Â&#x17D;qp] ~^^p] [\] Â&#x2021;}_hÂ&#x2021;h ^]  h ] xÂ&#x17D;qq] `\[^~[h}q ] Â&#x20AC;} ] `v\jhp^p] x\v] Â&#x17D; Â&#x2C6;] ] Â&#x20AC;} ] [}Â&#x17D;| [] [ ^] j}qÂ&#x17D;^] \x]  }vp] Â&#x20AC;\vÂ&#x161;] } ] Â&#x20AC;^qq] } ] [ ^] Â&#x17D;bb^ ][ }[]v^ Â&#x17D;q[ ]xv\Â&#x2021;]h[Â&#x2C6;] I remember how we were constantly encouraged to work 345678 9;<8=>5>8@9B>C8EC8485>=4568 basis. How? ] ^[] Â&#x2021; ^] ^_`q}h~Â&#x2030;] hx] w\Â&#x17D;] p\] Â&#x20AC;^qqÂ&#x2030;] w\Â&#x17D;] Â&#x2021;\ [] `v\Â&#x2013;}Â&#x2013;qw] w] Â&#x20AC;\Â&#x17D;qp]|^[] [] [ ^] q}[^ [] [] | } Â&#x2021; ^] \~] \Â&#x17D;v] Â&#x17D;v] h~[^~p\Â&#x2C6;] \Â&#x2C6;] h p ^] xv\Â&#x2021;] Â&#x2021;w] Â&#x2021;w ` } v ^ ~ [ Â&#x2030;] Â&#x2030; Â&#x2021;w] \Â&#x2021;^]h ] h ] \~^] [ }[] h ] h }qÂ&#x20AC;}w ] xÂ&#x17D;qq] Â&#x17D;qq] \x]^~^v|w]} ] } ] Â&#x2021;w] }Â&#x17D;~[h^ ] [h^ }~p] Â&#x17D;~bq^ ] bq^ ] Â&#x20AC;^v^] }qÂ&#x20AC;}w ] }w ] } v \ Â&#x17D; ~ p]] |hjh~|] xÂ&#x17D;qq] xÂ&#x17D;qq Â&#x2013;}~[^vÂ&#x2030;] }~p] h~] }] Â&#x2021;}~~^vÂ&#x2030;] ~~^vÂ&#x2030;] }b[^p]} ]Ă&#x203A;[ hvp] [ hvp] `}v^~[ Š][\]Â&#x17D; Â&#x2C6;] \]Â&#x17D; Â&#x2C6;] ]Â&#x2021;Â&#x17D; [] }w][ }[] w][ }[] ]  }p] }] |v^}[] b hqp \\pÂ&#x2C6;] pÂ&#x2C6;
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 }~pÂ&#x2C6;] Every musician has a unique and strong selling point. What is yours? ] w] Â&#x17D;~hšÂ&#x17D;^] ^qqh~|] `\h~[Ă&#x2DC;] Šp] qhÂ&#x161;^] [\] Â&#x2013;^qh^j^] [ ^]  \~^ [w] h~] Â&#x2021;w] Â&#x2021;Â&#x17D; hb] h ] Â&#x2021;w] ^qqh~|] `\h~[] } ] ] |^~^v}qqw] qhÂ&#x161;^] [\] `^}Â&#x161;] xv\Â&#x2021;] Â&#x20AC;h[ h~] Â&#x20AC;h[ ] }qq] ^~ ^] \x] Â&#x2021;\p^ [wÂ&#x2C6;] ] Â&#x20AC;\Â&#x17D;qp] }q \] hÂ&#x2021;}|h~^] [ }[] Â&#x2021;w] }Â&#x2013;hqh[w] [\] `q}w]Â&#x20AC;h[ ]Â&#x20AC;\vp ]
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What inspi inspires you? `Â&#x17D;[Â&#x2030;] bv^}[hjh[wĂ&#x153;] Â&#x2013;hqh[w] hÂ&#x2021;`qw] `Â&#x17D; [\] ²Â&#x17D; [] x\vÂ&#x2021;] x\vÂ&#x2021; \Â&#x2021;^[ h~|] \Â&#x17D;[] \x] ~\[ h~|]h[ ^qx]h~ `hv^ ]Â&#x2021;^Â&#x2C6; ~\[ h~|]h[ ^ What Wha are some of the key you put into k consideration when writing your lyrics? j ^ v w [  h ~ | Ă&#x153;] [] Â&#x2122;v [Â&#x2030;] ] Â&#x17D; ^p] [\] x\bÂ&#x17D; ]}]q\[]\~]Â&#x20AC;\vp] `q}w] }~p] `Â&#x17D;~b ] qh~^ ] }~p] ] Â&#x161;h~p] \x] x\v|\[] }Â&#x2013;\Â&#x17D;[] b\~[^~[Â&#x2C6;] \Â&#x20AC;}p}w Â&#x2030;] ] `Â&#x17D;[] ^j^vw[ h~|] h~[\] b\~ hp^v}[h\~Â&#x2030;] hh~ ~[ `}v[hbÂ&#x17D;q}vqw] [\vw] `} Â&#x20AC;vh[h~|Â&#x2C6;] ] [ h~Â&#x161;] h[] Â&#x20AC; h ] h hÂ&#x2021;`\v[}~[] [\] Â&#x2013;^] }Â&#x2013;q^] [\] b}vvw] w\Â&#x17D;v] } }Â&#x17D;ph^~b^]\~]}]²\Â&#x17D;v~^w] }Â&#x17D; Â&#x20AC; hb ] Â&#x20AC;\Â&#x17D;qp] }qq\Â&#x20AC;] Â&#x20AC; h [ ^Â&#x2021;] [ ^Â&#x2021; v^q}[^] Â&#x20AC;h[ ] w\Â&#x17D;] }~p]w\Â&#x17D;v]Â&#x2021;Â&#x17D; hb]Â&#x2013;^K^vÂ&#x2C6; }~p]w
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video? ^qqÂ&#x2030;] ]²Â&#x17D; []v^q^} ^p]}]Â&#x2021;Â&#x17D; hb]jhp^\] x\v]  ] }] }] }Â&#x2013;\Â&#x17D;[] }] Â&#x2021;\~[ ] }|\Â&#x2C6;] [] Â&#x20AC;} ] phv^b[^p] Â&#x2013;w] w] [Â&#x17D;~~}] \x] }jvhÂ&#x161;] hqÂ&#x2021; Â&#x2C6;] Šp]qhÂ&#x161;^][\]Â&#x2013;^qh^j^]h[Š ] }] x^^qÂ|\\p] jhp^\] }~p] j^vw] hÂ&#x2021;`q^Â&#x2C6;] ]  }p] [ ^] v^ [] \x] Â&#x2021;w] }jvhÂ&#x161;] bv^Â&#x20AC;] h~] [ ^] jhp^\Âą] }Â&#x2021;^ ] }jvhÂ&#x161;] ÂŤÂ&#x20AC; \] [ Â&#x20AC;} ] x^}[Â&#x17D;v^p] h~] [ ^] \~|ÂŹ] }~p] ÂłÂ&#x2030;] x^ }~\[ ^v] }~\[ ^v }v[h [^] h|~^p] Â&#x17D;~[\] [ ^] q}Â&#x2013;^qÂ&#x2C6;
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^ ^] }|ÂłÂ&#x2030;]Â&#x20AC; \Â&#x2021;] ]x^^q]h ]`}v[hbÂ&#x17D;q}vqw] Â&#x17D;~hšÂ&#x17D;^]h~] h ]Â&#x2021;Â&#x17D; hbÂ&#x2C6; Tell me about your recent music
While producing your music, what are your challenges? challeng  ^] Â&#x2013;h||^ [] b }qq^~|^] Â&#x2013; \] x}v]  } ]  } Â&#x2013;^^~] `v\pÂ&#x17D;bh~|] Â&#x2021;Â&#x17D; hb] [ }[] [ } Â&#x20AC;\Â&#x17D;qp] v^q}[^] [\] [ ^] Ă&#x203A; h|^vh}~Š] }Â&#x17D;ph^~b^Â&#x2C6;] ^] Ă&#x203A; h|^v p\] [^~p] [\] [\ qhÂ&#x161;^] }] q\[] \x]  h| ] [^Â&#x2021;`\] Â&#x2021;Â&#x17D; hb] Â&#x2013;^b}Â&#x17D; ^] Â&#x20AC;^] qhÂ&#x161;^] Â&#x2021;Â&#x17D; [\] p}~b^Â&#x2C6;]  ^] `v\Â&#x2013;q^Â&#x2021;] Â&#x20AC;h[ ] [ }[] h ] Â&#x20AC; ^~] Â&#x20AC;vh[h~|Â&#x2030;] w\Â&#x17D;] Â&#x20AC; b}~Š[]Â&#x2013;Â&#x17D;[] ^q`][ h~Â&#x161;]}Â&#x2013;\Â&#x17D;[][ ^] b}~Š[]Â&#x2013;Â&#x17D;[ Â&#x2021;Â&#x17D; hb] v^q}[h~|] [\] [ ^] `Â&#x17D;Â&#x2013;qhbÂ&#x2030;] `}v[hbÂ&#x17D;q}vqw] Â&#x20AC; ^~] [vwh~|] [\] `}v[ Â&#x2021;}Â&#x161;^] b\~ bh\Â&#x17D; ] \~| Â&#x2C6;] [Š ] Â&#x2021; }Â&#x2013;\Â&#x17D;[]Â&#x2122;~ph~|][ ^]Â&#x2013;}q}~b^Â&#x2C6; A peep into the future, what does it hold for you as regards your music? hv [qwÂ&#x2030;] h[] Â&#x20AC;\Â&#x17D;qp] Â&#x2013;^] ~hb^] [\] Â&#x2013;^] v^b\|~h ^p] }~p] v^ `^b[^p] v^|}vph~|] Â&#x2021;w] bv}-] x\v] Â&#x2021;}Â&#x161;h~|] Â&#x2021;Â&#x17D; hb] [ }[] `^\`q^] b}~] v^q}[^] [\Â&#x2C6;] ~b^] [ h ] x}qq ] h~] `q}b^Â&#x2030;] ] [ h~Â&#x161;] ^j^vw[ h~|] [ ^v^}-^v] x\qq\Â&#x20AC; ] Â&#x20AC;h[ ] }Â&#x20AC;}vp Â&#x2030;]b\qq}Â&#x2013;\ ]}~p]b\~b^v[ Â&#x2C6;  }[]  \Â&#x17D;qp] w\Â&#x17D;v] x}~ ] Â&#x2013;^] ^_`^b[h~|] xv\Â&#x2021;] w\Â&#x17D;] } ] ¥¤¼§] v\qq ] Â&#x2013;wĂ&#x2DC;  ^] ~^_[] `v\²^b[] ] }Â&#x2021;] Â&#x20AC;\vÂ&#x161;h~|] \~] h ] }] b\Â&#x2021;`hq}[h\~] \x] \Â&#x2021;^] \v[Â&#x;] }] b\Â&#x17D;`q^] \x] \~| ] pv\``h~|] }[] [ ^] }Â&#x2021;^] [hÂ&#x2021;^] ÂŤ~\[] }~] }qÂ&#x2013;Â&#x17D;Â&#x2021;ÂŹÂ&#x2C6;] [] b\Â&#x17D;qp] Â&#x2013;^] }] Â&#x2021;h_Â[}`^] ²Â&#x17D; []  \Â&#x20AC;h~|] [ ^]ph9^v^~[] \Â&#x17D;~p ] `\Â&#x161;^~]}Â&#x2013;\Â&#x17D;[] ^}vqh^v]}~p]j^v }[hqh[wÂ&#x2C6;] \Â&#x2021;^]jhp^\ ] } ]Â&#x20AC;^qq]\x][ ^] \~| ] ] \`^][\]pv\`] h~]¥¤¼§Â&#x2C6;
55
SUNDAY NEWSWATCH, AUGUST 10, 2014
Music&Classics
Bayo Ogunyemi bayo.ogunyemi@mydailynewswatchng.com 08094311491
When Goethe rose in support of journalists
G
oethe Institute, Lagos, continued his campaign reshaping the face of Arts in the country with its just concluded workshop for music journalists in Nigeria. Goethe is the bÂ&#x17D;q[Â&#x17D;v}q]h~ [h[Â&#x17D;[^]\x][ ^] ^p^v}q] ^`Â&#x17D;Â&#x2013;qhb] of Germany with a global reach and over 50 years of service in Nigeria. Ten ²\Â&#x17D;v~}qh [ ] xv\Â&#x2021;] ph9^v^~[] Â&#x2021;^ph}]  \Â&#x17D; ^ ] ÂŤ`vh~[] ^q^b[v\~hb ] }~p] Â&#x2013;q\||^v ÂŹ] Â&#x20AC;^v^] recently hosted in a workshop. According to Director, Goethe Institute, Nigeria, Marc-Andre Schmachel, the workshop was organised to prepare participants for contributions to â&#x20AC;&#x153;music ~] xvhb} ] ÂŤ Â&#x17D; hb] ~] xvhb}] h ] }~] information and exchange web portal dedicated wholly to the African music sector with the vision of becoming the leading source of information in and x\v] [ ^] xvhb}~] Â&#x2021;Â&#x17D; hb] ^b[\vÂŹ] } ] Â&#x20AC;^qq] } ] the upcoming publication of a critical, intellectual music/culture magazine for Lagos, Nigeria. This magazine will be edited by Goethe-Institut, Lagos. In extension to these, Andre noted that the workshop was to teach the basics of music and culture journalism and â&#x20AC;&#x153;thereby also three basic journalistic [}~p}vp ] x\vÂ&#x2021; ] ÂŤh~] } b^~ph~|] b\Â&#x2021;`q^_h[wÂŹÂ&#x;] v^jh^Â&#x20AC;Âťbvh[hšÂ&#x17D;^Â&#x2030;] Ă&#x; ] interview and feature. It is also to identify potential contributors for Â&#x17D; hb] ~] xvhb}] ÂŤ ÂŹÂ&#x2030;] }|}Âłh~^] and also to develop both publication concepts furthered together with the participants and thereby adapt these concepts to the requirements of the local market,â&#x20AC;? he stated. \v] Â&#x2122;j^] p}w Â&#x2030;] `}v[hbh`}~[ ] }[] [ h ] workshop were taken through a well laid out curriculum which includes introduction to culture/music journalism and tonality in cultural writing. . A ^vÂ&#x2021;}~] ²\Â&#x17D;v~}qh [Â&#x2030;] q\vh}~] ^jh^v Â&#x2030;] q^p] the pack of facilitators. The duty of a writer, music journalist in this instance, Sievers said, is to identify his target and this will inform such basics like the idiom, choice of words and language.
A critique/review should be nice to read â&#x20AC;&#x201C; so it should contain some entertaining elements like jokes, allusions and narratives
At best, he stated further, culture/music writing should not be only writing about culture and music and their aesthetics as leisure entertainment. Instead, it could serve â&#x20AC;&#x201C; and in fact should serve â&#x20AC;&#x201C; as a medium to write about much more: like the Artists / musician, his biographical background and his audience. Such writing should provide answers to questions like â&#x20AC;&#x153;where does an artist come from and why does he/ she produce the music/art he/she is producing. It should
Participants during a recent Goether workshop
also resolve the query on how these were received by the audiences and fans as well as the opponents. â&#x20AC;&#x153;Portraying the artist/musician as a person coming from and living h~] }] b^v[}h~] `}v[] \x] \bh^[w] ÂŤ \bh}qÂ&#x2030;] |^\|v}` hb}qÂ&#x2030;] ^b\~\Â&#x2021;hb}qÂŹ] ^~}Â&#x2013;q^ ] [ ^] journalist to deal with much bigger questions like: Under which conditions has a certain piece of art been produced?  hb ]`\qh[hb Â&#x2030;]j}qÂ&#x17D;^ Â&#x2030;] \bh}q]`v\Â&#x2013;q^Â&#x2021; Â&#x2030;] economic conditions and of course, aesthetic choices can be found therein ĂĄ] }~p] Â&#x20AC; wĂ&#x2DC;]  hb ] \bh}q] } ] Â&#x20AC;^qq] } ] political and historical trajectories and discourses are expressed in their `v\pÂ&#x17D;b[h\~Ă&#x2DC;] ] ~]  \v[Âą]  }[] b\Â&#x17D;qp] [ h ] piece of art mean? It is possible to tell a bigger story by writing about a piece of }v[Â&#x2030; ] q\vh}]Â&#x20AC;v\[^Â&#x2C6; q\vh}~] [Â&#x17D;ph^p]h~] b \\q]\x] \Â&#x17D;v~}qh Â&#x2021;Â&#x2030;] Cologne, Northern Germany and has worked as a freelance journalist for 18 w^}v Â&#x2C6;]] ]v^|Â&#x17D;q}v]b\~[vhÂ&#x2013;Â&#x17D;[\v][\] }~p^q ] q^KÂ&#x2030;] h||^ [] ^vÂ&#x2021;}~] ^b\~\Â&#x2021;h [] newspapers, Spex Magazine and Die ^q[] }hqw]~^Â&#x20AC; `}`^v
^] phjhp^p] [ ^] b\Â&#x17D;v ^] \Â&#x17D;[qh~^] h~[\] three main headings: Critiques/review, question and answer interview and features. To him, critiques must be factual entertaining and judgemental. Because person makes arts, a critique must be done with a view of examining at the geographical, historical, political, social, and cultural, by placing the topic in proper context, enabling readers understand the piece of art more easily. It was a week of brainstorming and intellectual discourse. In the process \x] Â&#x20AC;vh[h~|] v^jh^Â&#x20AC;Â&#x2030;] q\vh}~] Â&#x17D;Â&#x2013;Â&#x2021;hK^p] that a reviewer should have behind his mind the purpose of review which he categorised as, inform the readers, entertain the readers and convince the readers of the writerâ&#x20AC;&#x2122;s opinion. â&#x20AC;&#x153;A review is not only a buying recommendation for consumers, but also the anchoring of a piece of art in a context â&#x20AC;&#x201C; making it more accessible for readers,â&#x20AC;? he said. Seivers frowns at track to track review of piece of music. Instead, he opted for what he called aesthetical impressions â&#x20AC;&#x153;but no track by track descriptionsâ&#x20AC;? ÂŤÂ&#x20AC; hb ] }v^] }qÂ&#x2021;\ [] }qÂ&#x20AC;}w ] Â&#x2013;\vh~|] [\] v^}pÂŹ] ] Â&#x2022; ] v^jh^Â&#x20AC;] h ] ~\[] \~qw] }] Â&#x2013;Â&#x17D;wh~|]
recommendation for consumers, but also the anchoring of a piece of art in a context â&#x20AC;&#x201C; making it more accessible for readers,â&#x20AC;? he added. A critique/review should be nice to read â&#x20AC;&#x201C; so it should contain some entertaining elements like jokes, allusions and narratives. A reviewer, though, must be careful with personal taste and animosity when passing judgement. â&#x20AC;&#x153;These come only last. Before a judgement, the reader Â&#x2122;v [] ~^^p ] b\~[^_[] h~x\vÂ&#x2021;}[h\~] }~p] arguments to understand a certain ²Â&#x17D;p|^Â&#x2021;^~[Â&#x2C6;] q \Â&#x2030;] }j\hp] Â&#x2122;v [] `^v \~] forms wherever possible so that the reader could not easily wipe a well founded opinion aside as just one journalistâ&#x20AC;&#x2122;s personal taste. A music/ culture journalist is not a publicity service provider to the artist. So, bad reviews are absolutely possible, if ²Â&#x17D; [hÂ&#x2122;^pÂ&#x2C6;]  ^w] b}~] Â&#x2013;^] xÂ&#x17D;~] [\] v^}p] }~p] foster the journalistâ&#x20AC;&#x2122;s public position as a critical mind. But they have to be even more concise and precise than good v^jh^Â&#x20AC; Â&#x2030; ] ^] Â&#x17D;Â&#x2013;Â&#x2021;hK^pÂ&#x2C6; Lucid presentations on these topics were not limited to Seivers. Another facilitator who took time to drill the participants at the workshop was journalist, lawyer, historian and the Regional Editor of the recently launched Music In Africa, Edward Keazor. The session on interview was taken by veteran broadcaster and Â&#x2021;Â&#x17D; hb] bvh[hbÂ&#x2030;] ^~ \~] p\~Ă&#x2030;^Â&#x2C6;] p\~Ă&#x2030;^] p^Â&#x2122;~^p] h~[^vjh^Â&#x20AC;] } ] }~] Â&#x17D;~h~[^vvÂ&#x17D;`[^p] conversation where a person poses the question for another to answer for [ ^] Â&#x2013;^~^Â&#x2122;[] \x] \Â&#x2021;^] `^\`q^Â&#x2C6;] ^] }q \] categorised interview into: Personality interview, general interview, news h~[^vjh^Â&#x20AC;] }~p] j\_] `\`Â&#x17D;qhÂ&#x2C6;] ^] }q \] advocated the usage of what he called Â&#x2122;j^] ] }~p] Â&#x2C6;] ÂŤ hj^] Âą] Â&#x20AC; wÂ&#x2030;] Â&#x20AC; }[Â&#x2030;] Â&#x20AC; ^v^Â&#x2030;] Â&#x20AC; hb Â&#x2030;] Â&#x20AC; ^~] }~p] Âą]  \Â&#x20AC;ÂŹ] system to extract information from interviewees. In his own submission, Seivers said Â&#x2022; ^}p]^j^vw[ h~|]w\Â&#x17D;]b}~]Â&#x2122;~pÂ&#x2030;] \][ }[] you do not have to think about answers while conducting the interview. You should know all the facts. Be at par with the interviewee about facts! Only how your vis-Ă -vis counterpart puts these facts, which phrasing he/she uses
h ] h~[^v^ [h~|Â&#x2C6;] ^}ph~|] Â&#x2021;}~w] ph9^v^~[] \Â&#x17D;vb^ ]}q \]|hj^ ]w\Â&#x17D;]}]Â&#x2122;v []hÂ&#x2021;`v^ h\~] of the interviewee as a person. Â&#x2022; -^v] v^}ph~|Â&#x2030;] ^[] Â&#x17D;`] }] šÂ&#x17D;^ [h\~] catalogue in a meaningful order. h~b^] }-^v] }] pÂ&#x17D;[hxÂ&#x17D;q] `v^`}v}[h\~Â&#x2030;] w\Â&#x17D;] know what they are going to answer, every question should come from the foregoing one. A tree structure ÂŤÂ&#x20AC; ^v^] Â&#x2021;\v^] šÂ&#x17D;^ [h\~ ] x\qq\Â&#x20AC;] Â&#x17D;`] hx] the interviewee is into talking about a certain subject but where the next bigger subject follows when returning [\] [ ^] Â&#x2021;}h~] v\Â&#x17D;[^ÂŹ]  ^q` ] w\Â&#x17D;] [\] v^}b[] Âş^_hÂ&#x2013;q^]h~][ ^]qhj^]h~[^vjh^Â&#x20AC;] h[Â&#x17D;}[h\~Â&#x2C6; Â&#x2022; }j^] }] |\\p] }~p] b\~jh~bh~|Â&#x2030;] Â&#x2013;Â&#x17D;[] ^} w] Â&#x2122;v [] šÂ&#x17D;^ [h\~Â&#x2C6;] [}v[] Â&#x20AC;h[ ] something where the interviewee x^^q ] b\Â&#x2021;x\v[}Â&#x2013;q^] ÂŤ^Â&#x2C6;|Â&#x2C6;] Ă&#x203A; \Â&#x20AC;] php] w\Â&#x17D;] p\]h[Ă&#x2DC;Š]}~p]|^[] hÂ&#x2021; ^v]h~[\][ ^]Â&#x2021;\\p] x\v] [}qÂ&#x161;h~|Â&#x2C6;]  ^] Â&#x2021;\v^] ph½bÂ&#x17D;q[ÂťÂ&#x2021;\v^] critical questions must only come later.  ^] hp^}q] h~[^vjh^Â&#x20AC;] h[Â&#x17D;}[h\~Âą] \v|^[] the recording device and have an easy ÂŤÂ&#x2013;Â&#x17D;[] [vÂ&#x17D;b[Â&#x17D;v^pĂ&#x153;ÂŹ]b\~j^v }[h\~Â&#x2C6; â&#x20AC;&#x153;Be very aware of what an artist is saying. Donâ&#x20AC;&#x2122;t let them get away with `v\Â&#x2021;\] Â&#x2013;q}] Â&#x2013;q}] ÂŤĂ&#x203A;[ h ] h ] Â&#x2021;w] Â&#x2013;^ [] }qÂ&#x2013;Â&#x17D;Â&#x2021;] ^j^vŠÂ&#x2C6;] ~p] hx] \Â&#x2021;^[ h~|] v^Â&#x2021;}h~ ] ~^Â&#x2013;Â&#x17D;q\Â&#x17D; Â&#x2030;] } Â&#x161;] }|}h~Ă&#x153;] \qq\Â&#x20AC;ÂÂ&#x17D;`] questions make your interview lively/ vivid/graphic.â&#x20AC;?
\Â&#x20AC;^j^vÂ&#x2030;] }[] [Â ^] ^~p] \x] [Â h ] workshop, it was unanimously agreed that the process should not stop at this introductory stage. A week, they said, was grossly inadequate to explore the [\`hb] }~p] Â&#x2021;}Â&#x161;^] h|~hÂ&#x2122;b}~[] hÂ&#x2021;`}b[] \~] the industry. This was the request put forward to the director of the institute }[][Â ^]bq\ h~|]b^v^Â&#x2021;\~wÂ&#x2C6;] ^Â&#x2030;]Â \Â&#x20AC;^j^vÂ&#x2030;] promised to look at the request and dwell on the success of this maiden edition in organising many others. Artistes of various categories and genre were also able to interact with the journalists present at the workshop and share their experiences. Such artistes include soul singer and Nigerian recent export, Nneka |Â&#x17D;~}Â&#x2030;] ^Âłh}Â ] \~^ Â&#x2030;] }Â&#x2021;] h\x\vh]}~p] Remi Vanghan-Richards. All of them spoke of their works in the making, their knowledge of the industry and impression of artistes covering this beat.
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57
SUNDAY NEWSWATCH, AUGUST 10, 2014
Sunday Business Government growth indicators and employment rise disparity For any economy to lay claim to meaningful and successful growth, the issue of unemployment must have been tackled and reduced appreciatly. In this piece, FRIDAY EKEOBA posits that the authenticity of governmentâ&#x20AC;&#x2122;s claims to positive economic growth indicators is still a far cry, considering resources available at its disposal. ]}]b\Â&#x17D;~[vw]bq} hÂ&#x2122;^p]}Â&#x2021;\~|][ ^]xv\~[h^v] ^b\~\Â&#x2021;h^ ]}v\Â&#x17D;~p][ ^]|q\Â&#x2013;^Â&#x2030;]\~^]Â&#x2021;}²\v] |\}q] \x] [ ^] |\j^v~Â&#x2021;^~[] } ] h[] |qhp^ ] [\Â&#x20AC;}vp ]h[ ]`v\`\ ^p]jh h\~]¥¤¹¥¤¥¤]h ][\] Â&#x2021;}Â&#x161;^]`v\jh h\~]x\v]|}h~xÂ&#x17D;q]^Â&#x2021;`q\wÂ&#x2021;^~[]} ]\~^]\x] [ ^]b}vph~}q]`vh~bh`q^]\x]h[ ]`\qhbh^ Â&#x2C6;  ^] |\j^v~Â&#x2021;^~[Â&#x2030;] [ v\Â&#x17D;| ] h[ ] }|^~bh^ Â&#x2030;]  }j^] [vh^p]h~]~\] Â&#x2021;}qq]Â&#x2021;^} Â&#x17D;v^][\]^~ Â&#x17D;v^][ }[]} hp^][ ^] v^}q] ^b[\v][}Â&#x161;h~|]h[ ]`vhp^]\x]`q}b^]h~][ ^]p\Â&#x2021;^ [hb] ^b\~\Â&#x2021;wÂ&#x;] xÂ&#x17D;~p ]  }j^] ^šÂ&#x17D;}qqw] Â&#x2013;^^~] ²Â&#x17D;phbh\Â&#x17D; qw] p^`q\w^p][\]v^j}Â&#x2021;`][ ^] |vhbÂ&#x17D;q[Â&#x17D;v}q] ^b[\vÂ&#x2C6;  ^]p^bh h\~][\]|v\Â&#x20AC;][ ^] |vhbÂ&#x17D;q[Â&#x17D;v}q]bÂ&#x17D;Â&#x2021;][ ^] ^}q] ^b[\v]h~][ ^]b\Â&#x17D;~[vw] } ]Â&#x2013;^^~]jh^Â&#x20AC;^p]} ][ ^] [Â&#x20AC;\]Â&#x2021;}h~] ^b[\v ][ v\Â&#x17D;| ]Â&#x20AC; hb ][ ^]^b\~\Â&#x2021;w]b}~] Â&#x2013;^]p^j^q\`^p]} ]Â&#x20AC;^qq]} ]bv^}[h~|][ ^]Â&#x2021;Â&#x17D;b ]~^^p^p] ^Â&#x2021;`q\wÂ&#x2021;^~[] }j^~Â&#x17D;^ ] x\v] [ ^] w\Â&#x17D;~|] `v\pÂ&#x17D;b[hj^] bq} ] [\] b\~[vhÂ&#x2013;Â&#x17D;[^] [ ^hv] šÂ&#x17D;\[} ] [\] ^b\~\Â&#x2021;hb] Â&#x17D; [}h~}Â&#x2013;hqh[w]\x][ ^]b\Â&#x17D;~[vwÂ&#x2C6;
\Â&#x20AC;^j^vÂ&#x2030;] Â&#x20AC; hq^] [ ^] |\j^v~Â&#x2021;^~[] jh h\~] [\] }b h^j^] }] Â&#x17D; [}h~}Â&#x2013;q^] ^b\~\Â&#x2021;hb] ^Â&#x2021;}~bh`}[h\~] h~] [ ^] ~^_[] h_Âw^}v] h ] q\-wÂ&#x2030;] ^b\~\Â&#x2021;hb] h~phb}[\v ]  } ] h~b^]  \Â&#x20AC;~] [ }[] Â&#x17D;~^Â&#x2021;`q\wÂ&#x2021;^~[] |v\Â&#x20AC;[ ] v}[^]h~][ ^]b\Â&#x17D;~[vw]Â&#x2021;}w] ^vj^]} ]}qÂ&#x2013;}[v\ ][\][ ^] |\j^v~Â&#x2021;^~[Š ]p^j^q\`Â&#x2021;^~[}q] [v}[^|wÂ&#x2C6; ^b^~[] [}[h [hb ]  \Â&#x20AC;^p] [ }[] Â&#x2021;}²\vh[w] \x] [ ^] `v\pÂ&#x17D;b[hj^] bq} ] Â&#x20AC; hb ] hx] `Â&#x17D;[] ph9^v^~[qwÂ&#x2030;] \Â&#x17D;| [] [\]Â&#x2013;^][ ^]qhx^]Â&#x20AC;hv^]\x]}]xv\~[h^v]^b\~\Â&#x2021;wÂ&#x2030;]}v^]^h[ ^v] Â&#x17D;~^Â&#x2021;`q\w^p]\v]~\[]|}h~xÂ&#x17D;qqw]^Â&#x2021;`q\w^pÂ&#x2C6; q \][ ^]v^}q] ^b[\v] }j^] }p][ ^hv]b\Â&#x2021;`q}h~[ ] }Â&#x2013;\Â&#x17D;[] [ ^] }|^~bh^ ] \x] |\j^v~Â&#x2021;^~[] ~\[] Â&#x2021;^^[h~|] [ ^hv]p^ hv^]}~p][ ^]} `hv}[h\~]\x]|\h~|]b\~b^v~ ] [ }[]}b[Â&#x17D;}qqw]~^^p][ ^]|\j^v~Â&#x2021;^~[]xÂ&#x17D;~p ][\]|v\Â&#x20AC;] [ ^hv]Â&#x2013;Â&#x17D; h~^ ^ ]} ]Â&#x20AC;^qq]} ] ^q`h~|][\]p^j^q\`][ ^] q}v|^]^b\~\Â&#x2021;wÂ&#x2C6; []Â&#x20AC;hqq]Â&#x2013;^]v^b}qq^p][ }[][ ^]šÂ&#x17D;^ []x\v] ^^Â&#x161;h~|]x\v] ^Â&#x2021;`q\wÂ&#x2021;^~[]v^b^~[qw]b} []~^|}[hj^]} `^v h\~]\~] [ ^]|\j^v~Â&#x2021;^~[]} ]\j^v]¥¤]²\Â&#x2013;]}``qhb}~[ ]x\v][ ^]
A
Emeka
Ngozi-Iweala
h|^vh}] Â&#x2021;Â&#x2021;h|v}[h\~] ^vjhb^]ÂŤ ÂŹ]q\ [][ ^hv]qhx^Š ] h~][ ^]`v\b^ Â&#x2C6; ^b^~[]v^|Â&#x17D;q}[\vw]`\ h[h\~  ^] ^~[v}q] }~Â&#x161;]\x] h|^vh}]v^b^~[qw] }hp][ }[]£¤] `^v]b^~[]\x] h|^vh}~]w\Â&#x17D;[ ]}v^] [hqq]Â&#x17D;~^Â&#x2021;`q\w^pÂ&#x2030;] p^ `h[^]v^`^}[^p]Â&#x2122;|Â&#x17D;v^ ]v^q^} ^p]Â&#x2013;w][ ^] }[h\~}q] Â&#x17D;v^}Â&#x17D;] \x] [}[h [hb ] [}[h~|] [ }[] [ ^] h|^vh}~] ^b\~\Â&#x2021;w] }p]Â&#x2013;^^~]bv^}[h~|]Â&#x2021;hqqh\~ ]\x]²\Â&#x2013; ]h~][ ^] `} []w^}v Â&#x2C6;  ^] ] }p]\~qw]v^b^~[qw]}~~\Â&#x17D;~b^p][ }[][ ^] ^b\~\Â&#x2021;w] bv^}[^p] }Â&#x2013;\Â&#x17D;[] ÂĽÂ&#x2C6;ÂĄ] Â&#x2021;hqqh\~] ²\Â&#x2013; ] h~] ¥¤¼Œ] Â&#x2122; b}q]w^}vÂ&#x2C6; bb\vph~|] [\] }~] }|^~bw] v^`\v[Â&#x2030;] [ ^] `^bh}q] h [}~[]\~] Â&#x17D; [}h~}Â&#x2013;q^] }~Â&#x161;h~|Â&#x2030;] Â&#x2030;] vÂ&#x2C6;] h  }] } Â&#x2021;\\pÂ&#x2030;] ph bq\ ^p] [ }[] Â&#x17D;~^Â&#x2021;`q\wÂ&#x2021;^~[] Â&#x20AC;} ] [hqq]}] ^j^v^][ v^}[][\] h|^vh}Š ]^b\~\Â&#x2021;wÂ&#x2C6; } Â&#x2021;\\pÂ&#x2030;]Â&#x20AC; \]Â&#x2021;}p^][ h ]ph bq\ Â&#x17D;v^]v^b^~[qw] Â&#x20AC; hq^]p^qhj^vh~|]}]`}`^v]\~] h|^vh}~] Â&#x17D; [}h~}Â&#x2013;q^] }~Â&#x161;h~|] vh~bh`q^Â&#x2030;] pÂ&#x17D;vh~|] [ ^] ¥¤¼§] \vqp] ~jhv\~Â&#x2021;^~[] }w]`v\|v}Â&#x2021;Â&#x2021;^]\v|}~h ^p]Â&#x2013;w][ ^] ^p^v}q] h~h [vw]\x] ~jhv\~Â&#x2021;^~[]h~] Â&#x2013;Â&#x17D;²} }hpÂą] Â&#x2022; ] [ ^] `\`Â&#x17D;q}[h\~] h ] |v\Â&#x20AC;h~|Â&#x2030;] [ ^] v^ \Â&#x17D;vb^ ][ }[]Â&#x20AC;^]}qq]p^`^~p]\~Â&#x2030;][ ^]x\\pÂ&#x2030;]^~^v|wÂ&#x2030;] Â&#x20AC;}[^vÂ&#x2030;] }v^] p^bqh~h~|Â&#x2C6;]  ^] p^Â&#x2021;}~p] x\v] [ ^ ^] v^ \Â&#x17D;vb^ ]Â&#x20AC;hqq]vh ^]^_`\~^~[h}qqw]Â&#x2013;w][ ^]w^}v]¥¤Œ¤Â&#x2030;] Â&#x20AC;h[ ][ ^]Â&#x20AC;\vqp]~^^ph~|]}Â&#x2013;\Â&#x17D;[]¨¤]`^v]b^~[]Â&#x2021;\v^] x\\pÂ&#x2030;] §¨] `^v] b^~[] Â&#x2021;\v^] ^~^v|w] }~p] Œ¤] `^v] b^~[] Â&#x2021;\v^]Â&#x20AC;}[^vÂ&#x2C6; Â&#x2022; ~] h|^vh}Â&#x2030;] [ ^v^] h ] [ ^] h Â&#x17D;^] \x] w\Â&#x17D;[ ] }~p] ^Â&#x2021;`q\wÂ&#x2021;^~[Â&#x2C6;] ¢¤] `^v] b^~[] \x] [ ^] £¤] Â&#x2021;hqqh\~] w\Â&#x17D;[ ] h~] h|^vh}] }v^] ^h[ ^v] Â&#x17D;~^Â&#x2021;`q\w^p] \v] Â&#x17D;~p^v^Â&#x2021;`q\w^pÂ&#x2C6;] ^] }v^] }qq] Â&#x20AC;h[~^ ] [\] Â&#x20AC; }[]  }``^~^p] v^b^~[qw] pÂ&#x17D;vh~|] [ ^] hÂ&#x2021;Â&#x2021;h|v}[h\~] v^bvÂ&#x17D;h[Â&#x2021;^~[]^_^vbh ^]}~p][ h ]h ] hÂ&#x2021;`qw]Â&#x2013;^b}Â&#x17D; ^]£¤]
BUSINESS NEWS
Illicit financial flows drain $55.6bn annually from African continent â&#x20AC;&#x201C;GFI Pg. 59
`^v]b^~[]\x][ ^] h|^vh}~]w\Â&#x17D;[ ]}v^]Â&#x17D;~^Â&#x2021;`q\w^pÂ&#x2C6; } Â&#x2021;\\p] ~\[^p] [ }[] bÂ&#x17D;vv^~[qw] h|^vh}Š ] ^b\~\Â&#x2021;w]h ][ ^]q}v|^ []h~] xvhb}Â&#x2030;]}pph~|][ }[][ ^] b\Â&#x17D;~[vw]h ]Â&#x17D; h~|]x\ hq]xÂ&#x17D;^q][\]}b h^j^][ h ]|v\Â&#x20AC;[ ] [v}²^b[\vwÂ&#x2C6;  ^] [}[^p][ }[] h|^vh}Š ]^b\~\Â&#x2021;hb]|v\Â&#x20AC;[ ]Â&#x20AC;} ] } ]}]v^ Â&#x17D;q[]\x]h[ ]}Â&#x2013;Â&#x17D;~p}~[]\hq]v^ ^vj^ Â&#x2030;]}~p]Â&#x20AC;}v~^p] [ }[] [ ^] Âş}vh~|] \x] |} ] xv\Â&#x2021;] \hq] Â&#x2021;}w] ~^|}[hj^qw] }9^b[] bh[hÂł^~ ] h~] [ ^] b\Â&#x17D;~[vw] hx] ~\[] `v\`^vqw] Â&#x2021;}~}|^pÂ&#x2C6;  ^] }hpÂ&#x2030;] Â&#x2022; h|^vh}]  } ] Â&#x2013;^^~] Âş}vh~|] |} ] h~b^] [ ^] ph b\j^vw] \x] \hq] h~] [ ^] ¼¾¨¤ Â&#x2C6;] ^] `v\pÂ&#x17D;b^] }~p] Â&#x2013;Â&#x17D;v~] }Â&#x2013;\Â&#x17D;[] ¥¤] Â&#x2013;hqqh\~] bÂ&#x17D;Â&#x2013;hb] Â&#x2021;^[^v ] \x] |} ] }~~Â&#x17D;}qqw]}~p][ h ]h ]^~\Â&#x17D;| ][\]Â&#x2021;^^[]\Â&#x17D;v]^~^v|w] ~^^pÂ&#x2C6;] ^Â&#x2021;^Â&#x2021;Â&#x2013;^v]Â&#x20AC;^] }hp]Â&#x20AC;^]p\~Š[] }j^]^q^b[vhbh[wÂ&#x2030;] Â&#x20AC; ^v^} ]Â&#x20AC;^]b}~]`v\jhp^]^q^b[vhbh[w]Â&#x20AC;h[ ][ h ]|} ] [ }[]Â&#x20AC;^]Âş}v^Â&#x2C6; Â&#x2022; ~p]}q \]Â&#x20AC; ^~]Â&#x20AC;^]Â&#x2013;Â&#x17D;v~][ h ]|} Â&#x2030;]Â&#x20AC;^]`v\pÂ&#x17D;b^]
Currency
|v^^~] \Â&#x17D; ^]|} ^ ][ }[]}9^b[]\Â&#x17D;v]qhj^qh \\p]}~p] [ ^]qhj^qh \\p]\x]`^\`q^][ }[]qhj^]}v\Â&#x17D;~p][ }[]}v^}Â&#x2C6;  ^] ] `^bh}q]} h [}~[]}q \]q}Â&#x2021;^~[^p][ ^] h| ] ~Â&#x17D;Â&#x2021;Â&#x2013;^v]\x]`^v \~ ]qhjh~|]Â&#x2013;^q\Â&#x20AC;][ ^]`\j^v[w]qh~^]h~] h|^vh}]} ]Â&#x20AC;^qq]} ][ ^]}Â&#x2013;\Â&#x17D;[]¼¥¤]Â&#x2021;hqqh\~]`^v \~ ]h~] [ ^]b\Â&#x17D;~[vw][ }[] [hqq]q}bÂ&#x161;]}bb^ ][\]^q^b[vhbh[wÂ&#x2C6; bb\vph~|][\] ^vÂ&#x2030;][ ^]}Â&#x2013;\j^]v^} \~ ]Â&#x20AC;^v^] \Â&#x2021;^] Â&#x161;^w]h Â&#x17D;^ ]Â&#x20AC; w][ ^]Â&#x2122;~}~bh}q] ^b[\v]b}Â&#x2021;^][\|^[ ^v] [\] p^j^q\`] }~p] }p\`[] [ ^] h|^vh}~] Â&#x17D; [}h~}Â&#x2013;q^] }~Â&#x161;h~|] vh~bh`q^Â&#x2C6; EB>5C]>CK^<8>_E5K8<E8`45 }b^p]Â&#x20AC;h[ ][ ^]Â&#x17D;~`v^b^p^~[^p]`\j^v[w]q^j^qÂ&#x2030;][ ^] \j^v~Â&#x2021;^~[]  }p] p^j^q\`^p] \Â&#x2021;^] `v\|v}Â&#x2021;Â&#x2021;^ ] [\Â&#x20AC;}vp ] `\j^v[w] }qq^jh}[h\~] Â&#x2013;^[Â&#x20AC;^^~] ¼¾¾¤] }~p] ¥¤¼¤Â&#x2C6;]  ^ ^] `v\|v}Â&#x2021;Â&#x2021;^ ] }Â&#x2021;\~|] \[ ^v ] h~bqÂ&#x17D;p^Âą] [}Â&#x2013;qh  Â&#x2021;^~[] \x] hv^b[\v}[^] x\v] x\\pÂ&#x2030;] v\}p ]
Continued on Page 58
Exchange rates as at 7/08/2014 Buying (N) Central (N)
US DOLLAR POUNDS STERLING EURO SWISS FRANC YEN CFA WAUA YUAN/RENMINBI RIYAL DANISH KRONA SDR
154.73 260.5498 206.9668 170.295 1.5125 0.2958 235.8889 25.1082 41.2558 27.7533 236.938
155.23 261.3918 207.6356 170.8453 1.5174 0.3058 236.6511 25.1898 41.3891 27.8429 237.7037
Selling (N) 155.73 262.2337 208.3044 171.3956 1.5223 0.3158 237.4134 25.2714 41.5225 27.9326 238.4693
BUSINESS INTERVIEW
MONEY/CAPITAL MARKET
â&#x20AC;&#x2DC;American investment in Africa still greater than Chinaâ&#x20AC;&#x2122; s
â&#x20AC;&#x2DC;Global businesses lose $550bn annually to counterfeiting, piracyâ&#x20AC;&#x2122;
Pg. 61
Pg.60
58
SUNDAY NEWSWATCH, AUGUST 10, 2014
BUSINESS COVER
Growth indicators and unemployment rise disparity Continued from Page 57 and rural infrastructure â&#x20AC;&#x201C; DFRI. This directorate was changed with the responsibility to construct feedersâ&#x20AC;&#x2122; roads which will open up the rural areas for easy transportation of goods and human beings especially agricultural `v\pÂ&#x17D;b[ Â&#x2C6;] ~] ^9^b[] [ ^] \Â&#x2013;²^b[hj^] h ] [\] make it easy for transportation of food items from the farms in the rural areas to the urban centres. q \Â&#x2030;][ ^] |vhbÂ&#x17D;q[Â&#x17D;v}q] ^j^q\`Â&#x2021;^~[] Programmes â&#x20AC;&#x201C; ADP was established. This was a World Bank assisted Programme to enhance agricultural p^j^q\`Â&#x2021;^~[] [ v\Â&#x17D;| ] ^_[^~ h\~] ^vjhb^ ][\][ ^]x}vÂ&#x2021;^v Â&#x2C6; Other programme established were the Primary Health Care â&#x20AC;&#x201C; PHC. This programme is to enhance health b}v^]p^qhj^vw] w [^Â&#x2021;]h~][ ^]vÂ&#x17D;v}q]}v^}] Â&#x20AC; hb ] Â&#x20AC;hqq] `v\Â&#x2021;\[^]  ^}q[ w] qhjh~|] and healthy workforce in those areas; National Directorate of Employment â&#x20AC;&#x201C; NDE. The NDE is to promote self employment amongst the youth so as to reduce unemployment in those age group of the populace; National \j^v[w] v}phb}[h\~] v\|v}Â&#x2021;Â&#x2021;^] ĂĄ] NAPEP. This is perhaps the Foremost ^p^v}q] \j^v~Â&#x2021;^~[] |^~bw]b }v|^p] with the coordination and monitoring \x]}qq]`\j^v[w]^v}phb}[h\~]^9\v[ ]}[]}qq] q^j^q ]\x]|\j^v~Â&#x2021;^~[Â&#x2C6;]  ^]`v\|v}Â&#x2021;Â&#x2021;^] encompasses youth Empowerment Scheme which is geared towards combating unemployment among the w\Â&#x17D;[ ]h~][ ^] \bh^[wÂ&#x2C6;] \Â&#x20AC;^j^vÂ&#x2030;] ]  } ]~\[]Â&#x2013;^^~]^9^b[hj^]h~]h[ ]`v\|v}Â&#x2021;Â&#x2021;^] pÂ&#x17D;^] [\] q}bÂ&#x161;] \x] ^9^b[hj^] b\\vph~}[h\~Â&#x2030;] `\qh[hb}q] h~[^vx^v^~b^] }~p] h~ Â&#x17D;½bh^~[] funding; National Economic and Â&#x2021;`\Â&#x20AC;^vÂ&#x2021;^~[] ^j^q\`Â&#x2021;^~[] [v}[^|w] â&#x20AC;&#x201C; NEEDS. This is a home-grown strategy for accelerated economic p^j^q\`Â&#x2021;^~[] Â&#x20AC; hb ] `q}b^ ] ^Â&#x2021;` } h ] \~][ ^]`vhj}[^] ^b[\v]\x][ ^]^b\~\Â&#x2021;w]} ] [ ^]Â&#x161;^w]^~|h~^]\x]p^j^q\`Â&#x2021;^~[Â&#x2C6;] []Â&#x20AC;} ] ^~jh }|^p][ }[][ v\Â&#x17D;| ] Â&#x2030;]}]q}v|^] number of new enterprises would Â&#x2013;^] ^ [}Â&#x2013;qh  ^p] }~p] bv^}[^] ~^Â&#x20AC;] ²\Â&#x2013; ] thereby reducing unemployment in the land; Small and Medium Enterprise ^j^q\`Â&#x2021;^~[] |^~bw] Â] Â&#x2C6;]  ^]Â&#x2021;}²\v]xÂ&#x17D;~b[h\~ ]\x][ ^]}|^~bw]}v^] to ensure successful establishment and functioning of production units of business organizations especially agricultural ones across Nigeria. The }|^~bw] h ] }q \] [\] hp^~[hxw] h~phjhpÂ&#x17D;}q ] \v] |v\Â&#x17D;` ] Â&#x20AC;h[ ] jh}Â&#x2013;q^] Â&#x2013;Â&#x17D; h~^ ] hp^} ] }~p] `v\jhp^] [ \ ^] `v\ `^b[hj^] h~j^ [\v ] Â&#x20AC;h[ ] ~^b^ }vw] Â&#x17D;``\v[] \x] xÂ&#x17D;~pÂ&#x2030;]^šÂ&#x17D;h`Â&#x2021;^~[]}~p][^b ~hb}q]}pjhb^] for the ultimate goal of employment generation in the economy. Despite all [ ^ ^]`\j^v[w]}qq^jh}[h\~]`v\|v}Â&#x2021;Â&#x2021;^ Â&#x2030;] many Nigerians still remain largely `\j^v[w] [vhbÂ&#x161;^~] vhpp^~Â&#x2C6;]  ^] `Â&#x17D;Â&#x2013;qhb] `^vb^`[h\~]h ][ }[][ ^v^] } ]Â&#x2013;^^~]qhKq^] ²\Â&#x2013;]bv^}[h\~]p^ `h[^][ ^]^9\v[ ][\] [^Â&#x2021;] [ ^] vh h~|] Â&#x20AC;}j^] \x] Â&#x17D;~^Â&#x2021;`q\wÂ&#x2021;^~[] Â&#x20AC; hb ]`vh~bh`}qqw]q^}p ][\]`\j^v[wÂ&#x2C6; Infrastructural statistic The Nigeria economy, not been an ^_b^`[h\~]  }p] ~\] p\Â&#x17D;Â&#x2013;[] [vh^p] Â&#x20AC;h[ h~] h[ ]qhÂ&#x2021;h[^p]^_`^v[h ^][\]^~ Â&#x17D;v^][ }[][ ^] country and its people continue to ^~²\w][ ^]Â&#x2013;^ []\x]qhx^Â&#x2C6;] \Â&#x20AC;^j^vÂ&#x2030;][ ^]|}`] in the basic necessities of life which is said to be the primary measurement h~][ ^]`\j^v[w]qhx^]q^j^q]\x][ ^]`^\`q^]h ] still far from being addressed. The last statistic in the area of infrastructure showed that, there is [hqq] ¼¡] Â&#x2021;hqqh\~]  \Â&#x17D; h~|] p^Â&#x2122;bh[] h~] [ ^] country. The road networks in the b\Â&#x17D;~[vw] }v^] [hqq] }] b }qq^~|^] ^j^~] } ] ^q^b[vhbh[w]Â&#x20AC; hb ]\Â&#x17D;| [][\] }j^]qhÂ&#x2013;v}[^p] Â&#x2021;}qq]Â&#x2013;Â&#x17D; h~^ ^ ]Â&#x20AC; hb ]}v^][ ^]Â&#x2021;}²\v] pvhj^v ] \x] \[ ^v] ^b\~\Â&#x2021;h^ ] h ] [hqq] }] source of concern. The outcry that trailed the recent `\ [Â&#x17D;q}[h\~] xv\Â&#x2021;] [ ^] \½b^] \x] [ ^] Nigeria Bureau of Statistic (NBS), that by 2015, only 27.2 per cent Nigerians
Unemployed youths Â&#x20AC;hqq] Â&#x2013;^] vh| [qw] }p²Â&#x17D;p|^] } ] Â&#x2013;^h~|] `\\v] b}~] Â&#x2013;^] }hp] [\]  }j^] xÂ&#x17D;v[ ^v] Â&#x2013;^qqh^p] \v] b}qq][\]šÂ&#x17D;^ [h\~ ]Â&#x20AC; ^[ ^v][ \ ^]Â&#x2122;|Â&#x17D;v^ ] are real. Until now the NBS are yet to tell Nigerians on what parameters they based their calculation on. In a country where 70 per cent of h[ ] `^\`q^] qhj^] h~] [ ^] vÂ&#x17D;v}q] }v^} Â&#x2030;] Â&#x20AC;h[ ] jhv[Â&#x17D;}qqw] ~\] b\Â&#x2021;Â&#x2021;^vbh}q] qhx^Â&#x2030;] }~p] wherein farming to take care of oneself and family is the way of life, while other Œ¤]`^v]b^~[][ }[]qhj^]h~][ ^]bh[w]b^~[v^ ] cannot boost of 100 per cent of being xÂ&#x17D;qqw]^~|}|^p]`v\pÂ&#x17D;b[hj^qw]xÂ&#x17D;v[ ^v]b}qq] to question the Š ]Â&#x2122;|Â&#x17D;v^ Â&#x2C6; The impact of the countryâ&#x20AC;&#x2122;s high Gross Domestic Product (GDP) growth rate had not translated h~[\] `\j^v[w] reduction, as economist would say; Economic growth is not p ^ j^ q \ ` Â&#x2021; ^ ~ [ Â&#x2C6;]] A look at the countryâ&#x20AC;&#x2122;s GDP numbers, one will see that agriculture, wholesale and retail trade, and oil and gas b\~ [h[Â&#x17D;[^]\j^v]¢¤] per cent of that growth. How many people can those three sectors employ one may ask? Not many. Agriculture is largely subsistence in nature because the local farmer is not looking at employing people and it is when agriculture is commercialised that it will Â&#x2013;^]^Â&#x2021;`q\wÂ&#x2021;^~[]|^~^v}[h~|]}~p]`\j^v[w] reducing. `^bhÂ&#x2122;b}qqwÂ&#x2030;] [ ^] h~b\Â&#x2021;^] h~^šÂ&#x17D;}qh[w] had risen from 0.429 in 2004 to 0.447 in 2010 as at the last count. NBS earlier position Late in 2010 the NBS said that 112.519 Â&#x2021;hqqh\~] h|^vh}~ ]qhj^]h~]v^q}[hj^]`\j^v[w] b\~ph[h\~ ]}~p] h~b^][ ^~]~\]~^Â&#x20AC;]Â&#x2122;|Â&#x17D;v^] h ]Â&#x161;~\Â&#x20AC;~][\] }j^]Â&#x2013;^^~]|hj^~ This is staggering, compared with
the countryâ&#x20AC;&#x2122;s estimated 163 million population. ^q}[hj^] `\j^v[w] h ] [ ^] b\Â&#x2021;`}vh \~] \x][ ^]qhjh~|] [}~p}vp ]\x]`^\`q^]qhjh~|] h~] }] |hj^~] \bh^[w] Â&#x20AC;h[ h~] }] `^bhÂ&#x2122;^p] period of time. [] h ] [ ^] Â&#x2021;\ [] }bb^`[}Â&#x2013;q^] `\j^v[w] measurement which has been adopted by the NBS for many years. `}v[] xv\Â&#x2021;] [ ^] v^q}[hj^] `\j^v[w] h~p^_Â&#x2030;] \[ ^v] `\j^v[w] Â&#x2021;^} Â&#x17D;v^Â&#x2021;^~[] standards are absolute measure, which `Â&#x17D;[ ][ ^]b\Â&#x17D;~[vwŠ ]`\j^v[w]v}[^]}[]¾¾Â&#x2C6;¥£§] million or 60.9 per cent; the dollar per p}w] Â&#x2021;^} Â&#x17D;v^Â&#x2030;] Â&#x20AC; hb ] `Â&#x17D;[ ] [ ^] `\j^v[w] rate at 61.2 per cent; }~p] [ ^] Â&#x17D;Â&#x2013;²^b[hj^] `\j^v[w] Â&#x2021;^} Â&#x17D;v^Â&#x2030;] which puts the `\j^v[w]q^j^q]}[]¾ŒÂ&#x2C6;Âľ] per cent. ~ [vÂ&#x17D;b[hj^qwÂ&#x2030;] }qq] the four methods used in measuring `\j^v[w] Â&#x2013;w] [ ^] NBS pointed to the fact that there was disconnect between the countryâ&#x20AC;&#x2122;s Gross Domestic Product growth rate of 7.75 per cent and the  h| ]`\j^v[w]v}[^Â&#x2C6;  h ] v^q}[hj^] `\j^v[w] Â&#x2122;|Â&#x17D;v^] \x] 112.5 million, which was contained in [ ^] }|^~bw] `\j^v[w] `v\Â&#x2122;q^] v^`\v[] represents 69 per cent of the countryâ&#x20AC;&#x2122;s total population. The 26-page report, which `v\jhp^ ] p^[}hq ] \x] `\j^v[w]}~p]h~b\Â&#x2021;^] distribution across the country, put [ ^] ¥¤¤§] `\j^v[w] measurement rate at 54.4 per cent. The Statistician-General of the NBS, vÂ&#x2C6;] ^Â&#x2021;h] }q^Â&#x2030;] Â&#x20AC; hq^] Â&#x17D;~j^hqh~|] [ ^] v^`\v[] }p]~\[^p][ }[][ ^]Â&#x2122;|Â&#x17D;v^]Â&#x2021;h| [] increase to 71.5 per cent when the 2011 Â&#x2122;|Â&#x17D;v^]h ]b\Â&#x2021;`Â&#x17D;[^pÂ&#x2C6; â&#x20AC;&#x153;The NBS estimates that this trend Â&#x2021;}w]  }j^] h~bv^} ^p] xÂ&#x17D;v[ ^v] h~] ¥¤¼¼] hx] [ ^] `\[^~[h}q] hÂ&#x2021;`}b[ ] \x] ^j^v}q] }~[h `\j^v[w] }~p] ^Â&#x2021;`q\wÂ&#x2021;^~[] |^~^v}[h\~] h~[^vj^~[h\~]`v\|v}Â&#x2021;Â&#x2021;^ ]}v^]~\[][}Â&#x161;^~] into account,â&#x20AC;? he said. ~] }vvhjh~|] }[] [ ^] ¥¤¼¤] Â&#x2122;|Â&#x17D;v^Â&#x2030;] [ ^] NBS boss said data from 20 million
With a benchmark of $77.5 per barrel and only 7 per cent of the budget for capital development, it means a whopping 73 per cent is for recurrent expenditure
 \Â&#x17D; ^ \qp ]  }jh~|] }~] }j^v}|^] \x] Â&#x2013;^[Â&#x20AC;^^~] x\Â&#x17D;v] [\] h_] x}Â&#x2021;hqw] Â&#x2021;^Â&#x2021;Â&#x2013;^v ] were collected. According to the report, the NorthWest and North-East recorded the  h| ^ [] `\j^v[w] v}[^ ] h~] [ ^] b\Â&#x17D;~[vw] in 2010with 77.7 per cent and 76.3 per b^~[]v^ `^b[hj^qwÂ&#x2C6; World Bank position on Nigeria  ^] \vqp] }~Â&#x161;]v^b^~[qw]^_`v^ ^p] ^vh\Â&#x17D; ]b\~b^v~]\j^v][ ^] h| ]`\j^v[w] q^j^q] h~] [ ^] b\Â&#x17D;~[vw] }~p] b}qq^p] x\v] h~[^~ hÂ&#x2122;b}[h\~] \x] v^x\vÂ&#x2021;] h~h[h}[hj^ ] in critical sectors of the economy as a [v}[^|hb] [^`] [\Â&#x20AC;}vp ] }qq^jh}[h~|] h[ ] burden on the ordinary Nigerians.  h ]^j^~]} ]h[]~\[^p][ }[]^j^~]Â&#x20AC; ^~] Nigeriaâ&#x20AC;&#x2122;s GDP growth rate promised |v^}[] Â&#x17D; [}h~}Â&#x2013;q^] p^j^q\`Â&#x2021;^~[] potential, its current trend remains largely inadequate to tackle the high q^j^q]\x]`\j^v[w]h~][ ^]b\Â&#x17D;~[vwÂ&#x2C6;  ^] }~Â&#x161;] Â&#x2013;^qh^j^ ] [ }[] Â&#x20AC; ^v^} ] |\j^v~Â&#x2021;^~[ Š] `\qhbw] v^x\vÂ&#x2021;] }|^~p}] v^Â&#x2021;}h~] bvh[hb}q] [\] }K}h~Â&#x2021;^~[] \x] [ ^] socio-economic policy goals of the current administration, there is a growing need to do more in areas of `\Â&#x20AC;^v]}~p]h~xv} [vÂ&#x17D;b[Â&#x17D;v^]p^j^q\`Â&#x2021;^~[] h~]\vp^v][\]hÂ&#x2021;`v\j^]qh-]Â&#x2021;hqqh\~ ]\Â&#x17D;[]\x] [ ^]`\j^v[w][v}`Â&#x2C6; v\`\ h~|] h[ ] ^b\~\Â&#x2021;hb] `}qqh}[hj^ ] } ] hÂ&#x2021;`^v}[hj^] [\] q^j^v}|^] [ ^] Â&#x2021;\p^ [] }b h^j^Â&#x2021;^~[ ] \x] [ ^] b\Â&#x17D;~[vwŠ ] reforms, the Bankâ&#x20AC;&#x2122;s Vice President for African region, Makhtar Diop, }hp] [ ^] }~Â&#x161;Š ] h~h[h}[hj^ ] }hÂ&#x2021;^p] }[] Â&#x17D;``\v[h~|] [ ^] ^p^v}q] \j^v~Â&#x2021;^~[] h~][ ^]`\Â&#x20AC;^v]v^x\vÂ&#x2021;]pvhj^]Â&#x20AC;^v^]}hÂ&#x2021;^p] at socio-economic empowerment of all `v\pÂ&#x17D;b[hj^]}|^~[ ]}~p]hÂ&#x2021;`v\jh~|][ ^] nationâ&#x20AC;&#x2122;s GDP growth
^] ^_`q}h~^pÂą] Â&#x2022; w] `^v \~}q] assessment shows that the country is in the right direction. There has been sustaining growth of eight per cent for [ ^]v^b^~[]w^}v Â&#x2C6;] ]h[] Â&#x17D;½bh^~[Ă&#x2DC;] \Â&#x2C6;] ]h[] Â&#x17D;½bh^~[][\]v^pÂ&#x17D;b^]`\j^v[w]}[][ ^]v}[^] that Nigerian authorities want it, hence the people of Nigeria want it? No. Can it be accelerated? Yes, there are some possibilities. How can we accelerate it? â&#x20AC;&#x153;It can be accelerated by tackling some of the obstacles. â&#x20AC;&#x153;The most critical of these obstacles is power. Power not only for the big companies and manufacturers, when I am talking about power, I am talking as an African who knows what it is when there is power shortageâ&#x20AC;?, he added. Diop said, â&#x20AC;&#x153;Our work recently has shown that there is slight reduction
h~] [ ^] q^j^q] \x] `\j^v[w] h~] h|^vh}] Â&#x2021;\jh~|] xv\Â&#x2021;] §£] [\] §¡] `^v] b^~[Â&#x2C6;]  ^] trend is good. It needs to be accelerated \Â&#x2013;jh\Â&#x17D; qwÂ&#x2C6;] b\~\Â&#x2021;hb]`v\²^b[h\~  ^] \vqp] }~Â&#x161;] `v\²^b[^p] [ }[] Nigeriaâ&#x20AC;&#x2122;s economy would sustain its growth trend in 2013, with the countryâ&#x20AC;&#x2122;s gross domestic product, GDP, widely forecasted at 6.6 per cent xv\Â&#x2021;][ ^]¢Â&#x2C6;ÂŚ]`^v]b^~[]q^j^q]q} []w^}vÂ&#x2C6; The Bank said in its latest Global Economic Prospects, GEP, report that xv^  ]x\v^h|~]h~j^ [Â&#x2021;^~[ ]}v^]^_`^b[^p] [\]Â&#x2013;^][ ^]Â&#x2021;}h~]pvhj^v ]\x][ ^]^b\~\Â&#x2021;hb] growth in sub-Saharan Africa, including Nigeria. According to the report, increased h~j^ [Â&#x2021;^~[] Â&#x20AC;hqq] Â&#x2013;^] }] Â&#x2021;}²\v] pvhjh~|] x\vb^]\x]|v\Â&#x20AC;[ ]\j^v][ ^]Â&#x2021;^phÂ&#x17D;Â&#x2021;][^vÂ&#x2021;Â&#x2030;] `\h~[h~|]\Â&#x17D;[][ }[] h~b^]¥¤¤¤Â&#x2030;]h~j^ [Â&#x2021;^~[] in the region has increased steadily xv\Â&#x2021;]¼¨Â&#x2C6;Âľ]`^v]b^~[]\x] ][\]\j^v]ÂĄÂĄ] percent of GDP in 2012, with increased number of the regionâ&#x20AC;&#x2122;s economies tapping into international capital markets to help redress infrastructural b\~ [v}h~[ ]Â&#x20AC;hp^qw]^_`^b[^p][\] Â&#x17D; [}h~] [ ^]|v\Â&#x20AC;[ ]`}K^v~Â&#x2C6; The report indicated that foreign phv^b[] h~j^ [Â&#x2021;^~[] [\] [ ^] v^|h\~] h ] ^_`^b[^p] [\] v^Â&#x2021;}h~] [v\~|] \j^v] [ ^] medium term, with a forecast that it Â&#x20AC;\Â&#x17D;qp] h~bv^} ^] [\] ~^Â&#x20AC;] v^b\vp] q^j^q ] each year reaching a peak of about $55.6 billion in 2015. ] h~Âş\Â&#x20AC; ] [\] [ ^] ^_[v}b[hj^] industries sector, particularly oil and gas, petroleum and solid minerals as well as agriculture sector would be supported by spiralling commodity `vhb^ ]\j^v][ ^]~^_[][Â&#x20AC;\][\][ v^^]w^}v Â&#x2C6; _`^v[ Š]\Â&#x2013; ^vj}[h\~ The Association of Professional \ph^ ] \x] h|^vh}Â&#x2030;]  } ] ^_`v^ ^p] concern that 2014 national budget was too much skewed to make meaningful hÂ&#x2021;`}b[]\~][ ^]qhj^ ]\x]Â&#x2021;\ [] h|^vh}~ Â&#x2C6; The President of the association, vÂ&#x2C6;] }q}] }Š\²^Â&#x2030;] }hp] [ }[] \~qw] ¢] `^v] cent of the N14.6 trillion proposed in the budget was earmarked for capital p^j^q\`Â&#x2021;^~[Â&#x2C6; â&#x20AC;&#x153;APBN has checked and analysed [ ^] Â&#x20AC; \q^] [ h~|] }~p]  }j^] b\Â&#x2021;^] \Â&#x17D;[] with a position on the 2014 budget. â&#x20AC;&#x153;With a bench mark of $77.5 per barrel and only 7 per cent of the budget x\v] b}`h[}q] p^j^q\`Â&#x2021;^~[Â&#x2030;] h[] Â&#x2021;^}~ ] }] whopping 73 per cent is for recurrent ^_`^~ph[Â&#x17D;v^Â&#x2C6; Â&#x2022; Â&#x17D;p|^[h~|]h~][ h ]Â&#x20AC;}w]p\^ ]~\[]|hj^] v\\Â&#x2021;]x\v]}~w]Â&#x2021;^}~h~|xÂ&#x17D;q]p^j^q\`Â&#x2021;^~[] of the nation,â&#x20AC;? he said. }Š\²^] }hp] [ }[] ^Kh~|] } hp^] ÂĽÂŚÂ&#x2C6;¨] [vhqqh\~]x\v]v^bÂ&#x17D;vv^~[]^_`^~ph[Â&#x17D;v^]Â&#x2021;^}~[] that only 2 per cent of the population Â&#x20AC;\Â&#x17D;qp]Â&#x2013;^~^Â&#x2122;[]xv\Â&#x2021;][ ^]Â&#x2013;Â&#x17D;p|^[Â&#x2C6; He noted that the 2013 budget was also â&#x20AC;&#x153;structured in that wayâ&#x20AC;?. Accounting to him, continued structuring of the nationâ&#x20AC;&#x2122;s budget toward recurrent spending will impart ~^|}[hj^qw]\~][ ^]b\Â&#x2021;Â&#x2021;\~]Â&#x2021;}~Â&#x2C6; â&#x20AC;&#x153;The National Assembly should kindly look into this recurrent issue critically. â&#x20AC;&#x153;It has become a recurrent decimal h~] h|^vh}Â&#x2030;] Â&#x20AC; ^v^Â&#x2013;w] w\Â&#x17D;]  }j^] }] j^vw] huge recurrent and nothing for capital, which is not a good balanced budget,â&#x20AC;? he said. He said that the common man would Â&#x2013;^~^Â&#x2122;[] [ ^] Â&#x2021;\v^] xv\Â&#x2021;] }] Â&#x2013;}q}~b^p] Â&#x2013;Â&#x17D;p|^[] ^ `^bh}qqw] Â&#x20AC; ^~] pvhj^~] Â&#x2013;w] employment opportunities. }Š\²^] }hp] Â&#x2021;\v^] xÂ&#x17D;~p ]  \Â&#x17D;qp] Â&#x2013;^] allocated to boost agriculture, housing and health care infrastructure to generate employment and empower Nigerians at the grassroots.
^]}pjh ^p][Â ^] ^p^v}q] \j^v~Â&#x2021;^~[] to block areas of leakages in the system }~p] ^~ Â&#x17D;v^] [Â }[] v^j^~Â&#x17D;^ ] }bbvÂ&#x17D;}Â&#x2013;q^] into the Federation Account were captured.
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SUNDAY NEWSWATCH, AUGUST 10, 2014
BUSINESS NEWS
Illicit financial flows drain $55.6bn annually from African continent –GFI Friday Ekeoba
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Conflict of interest major impediment at Nigeria ports
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\ ^] }vh[h ^] [} ^ \qp^v ] }j^] hp^~[h ^p] b\~ºhb[] \x] h~[^v^ [] } \~|] [ ^] ^vjhb^] `v\jhp^v ] }~p] `\v[] ^v ] } ] `}v[]\x][ ^]h `^ph ^~[ ]}[][ ^] ~}[h\~© ]`\v[ ^w] [\qp] [ ^] ^ ] |^~bw] \x] h|^vh}] « ¬] h~] }|\ ] \~] \~p}w] [ }[] [ ^] b\~ºhb[] }p] q^p] [\] h| ] b\ [] \x] p\h~|] h~^ ]}[][ ^]`\v[ v] } }~] ^qq\ ] _^b [hj^] ^bv^[}vw ] h|^vh}] h``^v ©] \ ~bhq] « ¬ ] }hp] [ }[] [ ^] b\~ºhb[] \x] h~[^v^ [] } ] `}v[] \x] [ ^]b} ^ ]\x][ ^]p^q}w]h~]b}v|\] bq^}v}~b^]}~p]` ~h[hj^]b }v|^ [] h ] } b^v[}h~^p] [ }[] p^q}w ] }v^] b} ^p] w] `\\v] b}v|\] }~pqh~| ] q\ ] q\|h [hb ] hqq ] }~p] ~~^b^ }vw] v^} bv}bw ] w [^ ] x}hq v^] }~p] h~}p^¹ }[^] ^¹ h` ^~[] }~p] `\\v] b}v|\] }~pqh~|]x}bhqh[h^ ^v^] h ] }q \] [ ^] `v\ q^ ] \x] h~ph bvh h~}[^] hqqh~|] w [^ ] [\\] }~w] b\~[}h~^v ] ~p^v|\h~|] ` w hb}q] ^_} h~}[h\~ ] x}hq v^] [\] `\ h[h\~]b\~[}h~^v]x\v] b}~~h~|] \v] ` w hb}q] ^_} h~}[h\~] } ] v^¹ ^ [^p] w] h``^v ©©] ^qq\] }hp
^] }hp] [ }[] }v h[v}vw] h~bv^} ^] h~] b }v|^ ] } ] ^qq] } ] hqq^|}q][v}~ x^v]\x]b}v|\][\] \9 p\b ] ^v^] \ ^]\x][ ^]b} ^ ] \x][ ^]p^q}w]h~]p\h~|] h~^ ] h~][ ^]`\v[ ^qq\] }pjh ^p] ^vjhb^] `v\jhp^v ] }~p] ^vjhb^] ^v ] [\] ^] h~b^v^] h~] [ ^hv] h~^ ] p^}q ][\]^ b ^ ]b\vv `[h\~ ] ³ }] |\ ] ^bv^[}vw ] }v|\] ^x^~ ^] ~p ] }hp][ }[] }²\vh[w] \x] q\ ^ ] \v] p} }|^] [\] h|^vh}] \ ~p] b}v|\^ ] \bb vv^p]}[][ ^] h|^vh}~]^~p]\x] [ ^] ~[^v~}[h\~}q][v}p^ |\] }hp][ }[][ ^ ^]`v\ q^ ] ^v^] bv^}[^p] ^b} ^] [ ^] \`^v}[\v ] q}b ^p] ~\ q^p|^] \~] }vh[h ^]q} ]}``qhb} q^]h~] j}vh\ ]b\ ~[vh^ ^v^] h ] b\~x h\~] \v] ~b^v[}h~[w] h[ ] v^|}vp ] [\] p\b ^~[}[h\~ ] `v\b^p v^] }~p] p ^] `v\b^ ^ ] [\] ^~ v^] bb^ x q] ^Kq^ ^~[]\x]bq}h ^] h `\v[^v ] ^_`\v[^v ] [^v h~}q] \`^v}[\v ] \v] bq^}vh~|] }|^~[ ] p\] ~\[] ~\ ] [ ^] vh| [] [^` ][\][} ^]x\v]v^ ^ph}q]}b[h\~] h~] [ ^] ^j^~[] \x] p^q}w ] p} }|^] z741L J?7?3 *1K38M18 _8 %7 7?OM93 )7LE127 J$5 HI?E 23I? 7M9 1?E38 z741L J?7?3 1IH@=72L q=?E ]O]=2L E129=M4 7 L{< 12=@ @E3 O3 1I \v]q\ ]\x] }v|\ ©©] ^] }hp 5 < ]83L3M?39 ?1 z741L J?7?3 L3@1M978{ L@E112 { ?E3 41K38M18 9O8=M4 ?E3 *1K38M18 L (9O@7?=1M $q789L J3@1M978{ J@E112L |\] }hp] [ }[] ^b} ^] \x] >38I18<7M@3 >83L3M?7?=1M 7? ?E3 '34833L (K3M? &3M?83 %=22=M4 6179 |834OM z741L 83@3M?2{ h|^vh}© ] v}[h b}[h\~] }~p] ^~x\vb^ ^~[]\x] } v|]v q^ ] «¡¤¤¨¬ ][ ^] } h ]\x]qh} hqh[w] } ] [ }[] [ ^] b}vvh^v] } ] qh} q^] x\v] q\ ] v^ q[h~|] xv\ ] p} }|^] \x] Mansur Oladunjoye }-^v] [}_] p^bqh~^p] w] ¡ ¥¨â] xv\ ] }``v\j^p ]phjhp^~p] }vv}~[ ] hqq] ^] ^] ~\[^p] [ }[] ] v}~ `\v[] |\\p ]\v]p^q}w ¦·¡ £µ]h~]¡¤¥¡][\] ¦¨¨ ¤£]h~]¡¤¥¦ `\ [^p]\~]¥¡] ^`[^ ^v]¡¤¥§][\]}qq] }p] b\~bq p^p] }qq] }vv}~|^ ^~[ ] [\] ^] b}vvh^v] h ] \~qw] ] v}~ `\v[] qb] } ] ] `v^ ] [}[^ ^~[] w] [ ^] }v^ \qp^v ] \ ^] ~} ^ ] }``^}v] h~²^b[]~^ ]b\}b ^ ]}~p] hp ^ ][\] v^ `\~ h q^] x\v] [ ^] p^q}w] [ }[] v^q^} ^p]h[ ]} ph[^p]v^ q[ ] b\ `}~w© ] ` qhb] v^q}[h\~ ] \½b^v ] h~] [ ^] ^|h [^v] \x] ^ ^v ] }[] [ ^] h[ ]^_h [h~|]º^^[ ] }wh~| ] q[ \ | ] [\\ ] `q}b^] hq^] [ ^] |\\p ] x\v] [ ^] w^}v] ^~p^p] ¦¥ [] ²^\ }] ~w^ \] }hp][ ^] hv^b[\v ] bq\ ^]\x] h~^ ]\~] | []£ ]¡¤¥§ [ ^v^] }v^] b\~b^v~ ] xv\ ] h[ ] ^v^]h~] h ]b }v|^ ©©][ ^] }v|\] ^] hv^b[\v ] }qq] ^¹ }qqw] }~}|^ ^~[] |hj^~] [ ^] `v^j}hqh~|] ^x^~ ^] ~p] ^bv^[}vw] }hp ^b^ ^v]¡¤¥¦ ]v^b\vph~|] }qq] `v\`\ ^] }[] [ ^] x\v[ b\ h~|] }]|v\ [ ]\x]¡ ¤¦â]h~][ v~\j^v]\j^v] ] }] phjhp^~p] \x] ·] \ \] `^v] v^b\ ^~p] }] \~ ] }v^] x\v] h~p [vw] b }qq^~|^ ] h~] `} ^~|^v] ^]}q \] [v^ ^p][ ^]~^^p]x\v] \vph~}vw] }v^] \x] ¨¤] \ \] ^}b ] x\v] ^ ^v ] h~] [ ^] `v\`\v[h\~] \x] \~^] }~p]b}v|\][v}~ `\v[] h~^ [ ^]¡¤¥¡]v^ q[ ] x^} h q^] v q^ ] }~p] `vh~bh`q^ ] [ ] [ v~\j^v] } ] h~bv^} ^p] xv\ ] [ ^] w^}v] ^~p^p] ^b^ ^v] ¦¥ ] ¡¤¥¦ ] ~^ ] }v^] \x] ¨¤] \ \] x\v] ^j^vw] ¥¤] bb\vph~|] [\] ^v ] b }qq^~|^ ] | hph~|]vh| [ ]v^ `\~ h hqh[h^ ] · ¨ ] h~] ¡¤¥¡] [\] · ·§ ] h~] ¡¤¥¦ ] }pph~|][ }[]}bb\vph~|qw ][ ^] ^|h [^v] }v^ ] ^qp]}[][ ^]bq\ ^]\x] h~^ ] hb ] v^ q[] xv\ ] [ ^] ^h| [^~^p] p [h^ ] }~p] v^`v^ ^~[h~|] }~] h~bv^} ^] \x] ¡ ¤¦] \x] ^ ^v ] }~p] v}~ x^v] \\ ] \~] | []£ ]¡¤¥§ ] qq][ h ] hqq] ^] ^b vh[w] ~b^v[}h~[h^ ] `\\v] ~}[ v^] \ qh|}[h\~ ] \x] }vh[h ^] `^v]b^~[] hq^]|v\ ]`v\ []p^bqh~^p] \x] [ ^] b\ `}~w] hqq] ^] bq\ ^p] \~] b\~ hp^v^p] x\v] }``v\j}q] }[] [ ^] ¡¥ [] \x] }²\v] h| }w ]}~p][ ^] `}[^]\x] qh} hqh[h^ ] qh| [qw] w]¢ ¡§]`^v]b^~[]xv\ ] ¥ ¢¢ ] | []¥¥ ]¡¤¥§][\] | []¥¨ ]¡¤¥§ ] ~~ }q] ^~^v}q] ^^[h~|] b ^p q^][\] q[h`q^][}_}[h\~ ]}~p]hqq^|}q]q^jh^ ] \`^v}[\v |\] }pjh ^p] \`^v}[\v ] [\] v^b\vp^p]h~]¡¤¥¡][\] ¥ ·§ ]h~]¡¤¥¦ ] \[ ]p}[^ ]h~bq hj^ ]x\v][ ^]` v`\ ^] \qp]h~] ^vvh ] \] [}[^]\~] | [] ph | h ^p]} ][}_^ ]}qq]\x] hb ] }j^] v\ [] ^x\v^][}_] \ ^j^v ]|v^ ] w] \x]p^[^v h~h~|][ \ ^]^~[h[q^p][\][ ^] ¡µ] w]¥¥} ]}[] hb ] }v^ \qp^v ] b\~[h~ ^p] [\] ^_}b[] }] [\qq] \~] }~w] b\qq} \v}[^] [\] h~h h ^] vh ] ¤ §µ]`^v]b^~[]xv\ ] ¨·· ¤¥ ]h~]¡¤¥¡] `}w ^~[]\x]phjhp^~p ] \~ ^¹ ^~[qw ] hqq]b\~ hp^v][ ^]`v\`\ ^p]phjhp^~p ] h~^ ] b\~b^v~ ] ] v}~ `\v[] }~p]`v\ \[^]b}v|\]b}v^ ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]](NAN) ~\[]^_bq p^p]}[][ ^]`v\`\ ^p] [\] ¨·£ £¤ ] h~] ¡¤¥¦ ] hq^] `v\ [] hx] [ ^] phjhp^~p] } ] `v\`\ ^p] h ] } \~|]\[ ^v] h~^ ] ^] }hp
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q\ }q] h~}~bh}q] ~[^|vh[w] « ¬] } ] }~~\ ~b^p] [ }[] b q}[hj^] | v^] \x] hqqhbh[] ~}~bh}q] º\ ] xv\ ] xvhb}~] b\ ~[vh^ ] }~~ }qqw] `v^ ^~[qw] [}~p] }[] 㨨 ·] hqqh\~] ^j^~] } ] h[] ^qb\ ^p] [ ^] }~~\ ~b^ ^~[] xv\ ] [ ^] h[^] \ ^] }~p] xvhb}~] q^}p^v ] v^|}vph~|] [ ^] ^ [} qh ^~[] \x] }] hq}[^v}q] xvhb}] }v[~^v h`][\] \ }[] qqhbh[] h~}~b^ [] [ ^] } h~|[\~ ] } ^p] v^ ^}vb ] }~p] }pj\b}bw] \v|}~h³}[h\~] b} [h\~^p][ }[]}~w]^9^b[hj^]`}v[~^v h`] [] ^] v^] [\] }ppv^ ] p^ bh^~bh^ ] h~] \[ ][ ^] ]}~p]h~] xvhb}][ }[]x}bhqh[}[^] [ ^] }^ \vv }|^] \x] hqqhbh[] b}`h[}q] xv\ ] xvhb} bb\vph~|] [\] [}[^ ^~[] ^~[] [\] ~p}w] ^ }[b ] ] v^ hp^~[ ] }w \~p] } ^v] }hp] ^] ^qb\ ^][ ^] \j^] w] v^ hp^~[] } }] }~p] b^v[}h~] xvhb}~]q^}p^v ][\]x\v ][ h ]`}v[~^v h`] \~] b v h~|] hqqhbh[] ~}~bh}q] º\ ] xv\ ] xvhb}~]^b\~\ h^ ] qqhbh[] ~}~bh}q]º\ ] }v^] w]x}v][ ^] \ []p} }|h~|]^b\~\ hb] `v\ q^ ] x}bh~|] xvhb} ] w] }~~\ ~bh~|] [ ^]bv^}[h\~]\x][ ^] xvhb}] }v[~^v h`] [\] \ }[] qqhbh[] h~}~b^ ] v^ hp^~[]
ABC Transport decries illegal taxes, holds AGM
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SUNDAY NEWSWATCH, AUGUST 10, 2014
MONEY/CAPITAL MARKET
Private capital not enough for Nigeriaâ&#x20AC;&#x2122;s infrastructure needs â&#x20AC;&#x201C;EXIM Bank CEO Friday Ekeoba
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s countries in the African Continent struggle to emancipate themselves from foreign economic domination, [ ^]  h^x] _^bÂ&#x17D;[hj^] ½b^v] \x] Nigerian Export Import Bank, Roberts Orya has said that future business and investment partnerships between the US and Africa look optimistic, but that private investment will not be enough for the construction of much needed large infrastructure projects. He said: â&#x20AC;&#x153;The amount that is v^šÂ&#x17D;hv^p][\]Â&#x2122;~}~b^]h~xv} [vÂ&#x17D;b[Â&#x17D;v^] in Africa, you cannot leave it in
the hands of the private sector alone.â&#x20AC;? According to agency report, Orya made this remark while }K^~ph~|] [Â ^] ] x\vÂ&#x17D;Â&#x2021;Â&#x2030;] \Â&#x20AC;^vh~|] ~bqÂ&#x17D; hj^] v\Â&#x20AC;[Â Â&#x2030;] \~] the sidelines of the US-Africa Business Summit, during the week in Washington, DC. â&#x20AC;&#x153;The private equity is coming in...but that is not just enough. Because in Nigeria, you need US $14 billion US annually to be able to take care of infrastructure,â&#x20AC;? the expert added. Power infrastructure, roads, railways are all economic components that require massive amounts of investment. According to Orya, â&#x20AC;&#x153;even in the power sector alone, that is what you need to be able to bring power to the level that Nigerians can enjoy.â&#x20AC;? vw}] Â&#x20AC;} ] q^ ] `^bhÂ&#x2122;b] }Â&#x2013;\Â&#x17D;[] the role of governments in
Â&#x2122;~}~bh~|] Â&#x17D;b ] bvh[hb}q] `v\²^b[ ] saying only that the government had a role to play â&#x20AC;&#x153;to provide a good environment, provide some kind of transparency.â&#x20AC;? According to a report focused on Sub-Saharan Africa (SSA) power consumption and |^~^v}[h\~] Â&#x2013;w] Â&#x2030;] [ ^] v^|h\~] has been growing at an average of two percentage points per year. Since the 2008 economic crisis, SSA has emerged as the second fastest growing region in the world and home to approximately 13 percent of the world population. While the needs of the population for basic economic infrastructure and particularly energy infrastructure are hÂ&#x2021;Â&#x2021;^~ ^Â&#x2030;] }bb\vph~|] [\] [ ^] ] report, â&#x20AC;&#x153;SSA has made limited progress so far in developing a manufacturing sector.â&#x20AC;? vw}] ~\[^p] Â&#x17D;b ] ph½bÂ&#x17D;q[h^ ] h~]
bringing in components and labor from abroad, which can limit [Â ^] Â&#x2013;v\}p^v] ^b\~\Â&#x2021;hb] Â&#x2013;^~^Â&#x2122;[ ] of large-scale infrastructure construction. â&#x20AC;&#x153;We donâ&#x20AC;&#x2122;t have that capacity now to say we have |\K^~][\][Â }[]q^j^q]Â&#x20AC;Â ^v^]Â&#x20AC;^]b}~] produce our own technology in hour or internally to take care of this.â&#x20AC;? He noted that Nigeria is liberalizing their economy and bringing in a lot of private investors, â&#x20AC;&#x153;We have provided a very good platform to allow investors to come in.â&#x20AC;? Orya is hopeful for the future of US-Africa business partnerships and the overtures President Barack Obama made in inviting the largest delegation of African leaders onto US soil in history. â&#x20AC;&#x153;It is very promising,â&#x20AC;? said Orya. â&#x20AC;&#x153;One would have said that the action that has been taken by the v^ hp^~[]h ]}]qhKq^]q}[^Â&#x2030;]Â&#x2013;Â&#x17D;[]h[]h ]~\[] yet late,â&#x20AC;? the expert concluded.
Heritage Bank Brand Ambassador, Zuriel Oduwole (left) and President, Rainbow Book Club, Mrs. Koko Kalango, at the 2014 World Book Day, held in Port Harcourt, Rivers State ...recently.
Food imports by Gulf countries to hit $53b in 2020
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he value of food imports Â&#x2013;w] Â&#x17D;qx] \\`^v}[h\~] \Â&#x17D;~bhq]ÂŤ ÂŹ]b\Â&#x17D;~[vh^ ] is forecast to reach $53.1 billion by 2020, according to the Economist Intelligence Unit (EIU). ] }KvhÂ&#x2013;Â&#x17D;[^ ] [ ^] ^_`^b[^p] increase to the fact that 90 per b^~[] \x] [ ^] Â&#x17D;qxŠ ] bÂ&#x17D;vv^~[] x\\p] demands are met with imports, an over-reliance caused by climactic conditions and land use restrictions. hÂ&#x161;^] \[ ^v] ] [}[^ Â&#x2030;] Â&#x2021;}~] has been taking a series of ^9\v[ ] [\] }b h^j^] x\\p] ^bÂ&#x17D;vh[w] by enhancing cultivation and Â&#x2013;Â&#x17D;9^v] x\\p] |v}h~] [\bÂ&#x161; ] h~] [ ^] country. The food reserves are essential x\v] Â&#x17D; h~|] h~] [ ^] }-^vÂ&#x2021;}[ ] \x] natural calamities like a cyclone
or in the wake of spiralling food grain prices in the global market. Public Authority for Stores }~p] \\p] ^ ^vj^]  } ] `q}~ ] [\] Â&#x2013;Â&#x17D;hqp] ¨¥] Â&#x20AC;}v^ \Â&#x17D; ^ ] h~] ph9^v^~[] wilayats with a total capital expenditure of OMR42 million to ensure availability of food grains even in remote villages. Work has already been started for few warehouses. Contrastingly, regional imports x}v]^_b^^p]p^Â&#x2021;}~p]}~p][ ^] Š ] position as a major logistics hub for the global food industry is }hp^p] Â&#x2013;w] h|~hÂ&#x2122;b}~[] v^Â^_`\v[] trade. \\p `^bhÂ&#x2122;b] q\|h [hb ] v^Â&#x2021;}h~] a core component of a UAE logistics industry anticipated to reach Dh99 billion in 2015, }bb\vph~|][\] v\ []Ă&#x;] Â&#x17D;qqhj}~Â&#x2C6; Meanwhile, Dubai Multi
Commodities Centre (DMCC) Â&#x2122;|Â&#x17D;v^ ]  \Â&#x20AC;] [ ^] ] bÂ&#x17D;vv^~[qw] re-exports nearly 50 per cent of its imported food products to \[ ^v] ] b\Â&#x17D;~[vh^ Â&#x2030;] Â&#x17D; h}Â&#x2030;] India, Pakistan and East Africa. One of the worldâ&#x20AC;&#x2122;s biggest re^_`\v[^v ]\x]|\\p ] Â&#x17D;b ]} ]b\9^^Â&#x2030;] tea, sugar and rice, the UAE was responsible for approximately 90 per cent of global rice re-exports in 2010. With regional food demand set to grow â&#x20AC;&#x201D; the World Bank projects the Middle East and North Africa (Mena) regionâ&#x20AC;&#x2122;s food market could exceed $1 trillion by 2030. Shaping an economically sustainable regional food logistics infrastructure will top the agenda }[] [ h ] w^}vŠ ] h~}Â&#x17D;|Â&#x17D;v}q] Â&#x17D;qx\\p] Manufacturing, following
decades of multi-billion dollar h~j^ [Â&#x2021;^~[ ]h~][ ^] Š ]}jh}[h\~] and maritime infrastructure and v^^] \~^][v}p^] Â&#x17D;Â&#x2013; Â&#x2C6;]  ^] Â&#x17D;qx\\p] }~Â&#x17D;x}b[Â&#x17D;vh~|] will take place at Dubai World Trade Centre (DWTC) between November 9 and 11. The event will prioritise the food logistics debate with a dedicated forum highlighting current trends and solutions for ^9^b[hj^] hÂ&#x2021;`q^Â&#x2021;^~[}[h\~] }bv\ ] the multi-sector sphere. \\p] \|h [hb ] hppq^] } [Â&#x2030;] a specialised show within Â&#x17D;qx\\p] }~Â&#x17D;x}b[Â&#x17D;vh~|Â&#x2030;] Â&#x20AC;hqq] bring together global industry experts to tackle challenges such as connectivity, demand and supply, transportation, storage, commercial vehicles, facilitators and service providers.
Global businesses lose $550bn annually to counterfeiting, piracy â&#x20AC;&#x201C;HP Nigeria
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llicit practices like counterfeiting and piracy  }j^] }pj^v ^qw] }9^b[^p] businesses around the world and it has caused loses in excess of about $550 billion w^}vqwÂ&#x2030;] }w ] ^Â&#x20AC;q^K] }bÂ&#x161;}vp] (HP). HP, one of the worldâ&#x20AC;&#x2122;s largest IT companies, said more than $100 billion of the q\ ^ ] Â&#x20AC;^v^] `^bhÂ&#x2122;b}qqw] xv\Â&#x2021;] the Information Technology industry. According to AllAfrica.com, to curtail the huge losses, particularly in the Nigerian business environment, HP Nigeria, one of the largest IT companies in the country, said it has made huge investments over the years. Describing Nigeria as a leading nation in the protection of Intellectual Property in Africa, Managing hv^b[\vÂ&#x2030;]
^Â&#x20AC;q^K }bÂ&#x161;}vp] Nigeria Limited, Ime Umo, said that part of the companyâ&#x20AC;&#x2122;s investments include an anticounterfeit conference it hosted in Abuja . It will be recalled that the illegal movement of money or capital from one country to another is termed as hqqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC; ] ÂŤ ÂŹÂ&#x2C6;] bb\vph~|][\] q\Â&#x2013;}q] h~}~bh}q] ~[^|vh[w]ÂŤ ÂŹÂ&#x2030;]Â&#x20AC; ^~]xÂ&#x17D;~p ]}v^] illegally earned, transferred and/or utilised, it is termed as hqqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC;Â&#x2C6;] }`h[}q] that is legally earned but illegally transferred, would be b\~ hp^v^p] } ] hqqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC;Â&#x2C6;]  ^]Â&#x2021;\j^Â&#x2021;^~[ ]\x]xÂ&#x17D;~p ] by drug cartels, criminals and terrorists, trade mis-invoicing by businesses and corrupt `Â&#x17D;Â&#x2013;qhb] \½bh}q Š] [v}~ x^v] \x] funds outside the country of origin are some of the items [ }[] x}qq] Â&#x17D;~p^v] [ ^] p^Â&#x2122;~h[h\~] \x] hqqhbh[] Â&#x2122;~}~bh}q] \Â&#x17D;[Âş\Â&#x20AC;Â&#x2C6;] qqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC; ] xv\Â&#x2021;] developing countries move to \9  \v^] Â&#x2122;~}~bh}q] b^~[v^ ] }~p] developed countries.  ^] v^`\v[] Ă&#x203A; qqhbh[] h~}~bh}q] q\Â&#x20AC; ] xv\Â&#x2021;] ^j^q\`h~|] Countries: 2002-2011â&#x20AC;&#x2122; by q\Â&#x2013;}q] h~}~bh}q] ~[^|vh[w] [}[^ ] [ }[] hqqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC; ] xv\Â&#x2021;] p^j^q\`h~|] countries was US $946.7 billion in 2011 while the bÂ&#x17D;Â&#x2021;Â&#x17D;q}[hj^] Â&#x2122;~}~bh}q] \Â&#x17D;[Âş\Â&#x20AC;] between 2002 and 2011 was US $5.9 trillion. This indicates the possible adverse economic ^9^b[][ }[]hqqhbh[]Â&#x2122;~}~bh}q]Âş\Â&#x20AC; ] have on developing countriesâ&#x20AC;&#x2122; economies. Again, illicit Â&#x2122;~}~bh}q]Âş\Â&#x20AC; ]}v^]h~bv^} h~|Â&#x;] they have increased at an average of more than 10 per cent per year between 2002 }~p] ¥¤¼¼Â&#x2030;] }-^v] }p²Â&#x17D; [h~|] x\v] h~Âş}[h\~Â&#x2C6;] ~] ¥¤¼¼Â&#x2030;] hqqhbh[] Â&#x2122;~}~bh}q] Âş\Â&#x20AC; ] h~bv^} ^p] Â&#x2013;w] 13.7 per cent from US$832.4 billion in 2010.
61
SUNDAY NEWSWATCH, AUGUST 10, 2014
BUSINESS INTERVIEW
American investment in Africa still greater than China’s –Mo Ibrahim Last week, the US government invited over 50 African Presidents and Heads of States to discuss business and economic issues under the auspices of the USAfrica Business Forum. In this interview conducted by Michael Bloomberg, at the side line of the conference, Mo Ibrahim, founder of Celtel International BV, spoke about U.S. business investment and “soft power” in Africa, and governance issues on the continent. K8<>>]<8j9{>848<RUU><<`Rj8<R]]9K78 9B>8R<8VER58K4{>78 ^qq] [ ^] hp^}] h ] [\] |^[] [ ^] |\j^v~ ^~[ ] \x] xvhb}~] b\ ~[vh^ ] [\] ~p^v [}~p] }[] ^vhb}] } ] [\] \9^v ] [\] |^[] ^vhb}© ] h~^ ^ ][\] ~p^v [}~p][ ^]\``\v[ ~h[h^ ] h~] xvhb} ] |^Kh~|] [ ^ ] [\|^[ ^v ] \ \pw© ] ^j^v] ` [] [\|^[ ^v] }qq] \x] [ ^] ^}p ] \x] [ ^] xvhb}~] b\ ~[vh^ ] h~] \~^] `q}b^] }~p] }[] [ ^] } ^] [h ^] |hj^~] h~^ ^ ] [ ^] \``\v[ ~h[w][\]v^}qqw]ph}q\| ^]}~p] } ^] \ ^]b\~[}b[ ] ] } ][^qqh~|][ h ] [\vw] ^x\v^ ] ] }[]~^_[][\][ ^]`v^ hp^~[]\x] |}~p} ] ^]b}v^ ]} \ []}|vhb q[ v}q]^¹ h` ^~[ ] ~][ ^] }w]\ [][ \] h~ [^ ]q}[^v ] © ][}q h~|] h[ ] \ ^ \pw ] ] ] \ qp]|^[]}]b [ ] []p\^ ~©[] }K^v] ^[ ^v]\v]~\[] [ ^w]p\]}]v^}q]vh| [][ ^~ ] }[] }``^~ ]h ]q}[^v]\~][ ^] b\ `}~w] }q^ }~]b}~] }w][\][ ^] h~h [^v] \]p\^ ][ ^] wh~|]\v]}] [\v^][ }[]p\^ ][ ^] wh~| ] ] } ] h[ ]w\ v]á] w] \ ] } ] h[ ]w\ v]`v^ hp^~[ ] ^w] }hp] ^] \ qp] [}q ] ~p] ^~][ }[] }``^~ ]`^\`q^]p\]|^[][\|^[ ^v ] ~p]h[© ]}qq]} \ []v^q}[h\~ h` ]}~p] ~\ q^p|^ j>K8]>8@>K8VER58K4{>8EC8K34K78 <8K39<84C8E||E5KRC9KV8KE8 5>4jjV8<Ej969`V85>j4K9EC<39|<8E586E><8]E5>8C>>68KE8x>8 6EC>8EC8K3>8@EB>5C4CU>8<96>z ] [ h~ ] [\] [}v[] h[ ] h[] h ] \~p^vx q] [ }[] [ h ] [ h~|] }``^~^p]}[]q} [] ^b} ^] ]v^}qqw] \ qp] }j^]p\~^] [ }[] \ ^]w^}v ]}|\ ] ~p]\x]b\ v ^]h[][} ^ ] \ ^ \pw] qh ^] h ^] ^v^][\] } ^][ h ] }``^~ ] \ ]~^^p][ }[] h~p] \x] pvhj^ ] h~^ ] `^\`q^] [\] b\ ^] }~p] |^[] [ h ] p\~^ ] \] © ] á] © ] v^}qqw] p^qh| [^p] h[ ] [ ^] p}w ] ] [ h~ ] h[] } ] ^K^v][ }~] }j\ ] ]p\~©[]qh ^]h[] ^~]á] ^~][\\] }~w] ^~h\v]`^\`q^]h~][ ^]v\\ ]}~p]^j^vw \pw© ]~hb^][\] ^j^vw \pw] ^b} ^]w\ ]p\~©[]|^[]}~w[ h~|]p\~^ ] ] ^] ~^^p] v^}qqw] h~[^~ ^ ] xv}~ ] ph b h\~ ] ~p] [\] \ ^] ^_[^~[] [ }[] } ] b ] ^K^v] [ }~] \[ ^v] h hq}v] [ h~| ] [© ] ^K^v] [ }~] }[] }``^~ ] h~] h~}] \v] h~] v}~b^]}~p] h hq}v] h[ ] © ]~\[]`}v[w]x\v][ ^]\[ ^v] `\qh[hb}q]ph b h\~ ] \] ]} ]~\[]h~]}]`\ h[h\~][\] ~\ ] }[][ \ ^]| w ]}v^] `][\]\v] }[][ ^w] }j^]}b h^j^p ] []xv\ ][ ^] h~^ ]`\h~[]\x]jh^ ] ][ h~ ][ }[© ]bv bh}q ] ~p]w\ ]|\[][\]v^ ^ ^v ]`^\`q^] }w] h~}© ][ ^v^ ] ^vhb}~] h~j^ [ ^~[] h~] xvhb}] h ] [hqq] |v^}[^v] [ }~] h~} ] ^ ] h~}© ] ^^~] `^~ph~|] }] q\[] \x] [h ^ ] [] h~}] } ]}]`\qhbw][ ^v^ ] ^] }w][ ^w] [v b[ v^]h[ ][ ^hv] |\j^v~ ^~[]|\^ ]}~p]` ^ ]}~]}|^~p}]}~p][vh^ ][\]|^[] [ h~| ][ }[]}v^]}pj}~[}|^\ ][\] h~} ] \[ h~|] v\~|] h[ ][ }[ ] ^] ^vhb}~] [v b[ v^]h ]j^vw]ph9^v^~[ ] ^] [vw][\] }j^]h~phjhp }q]b\ `}~h^ ] \] } ^]h~phjhp }q] p^bh h\~ ][ }[]}v^]h~][ ^hv]h~phjhp }q]h~[^v^ [ ]p^}q]}~p] [ ^][\[}qh[w]v^}qqw] h~p ] `][\] ^] \ ^[ h~| ] ~p] \]xv\ ]}~] xvhb}~]b\ ~[vw© ]`\h~[]\x]jh^ ][ ^w] b}~©[] ^]phb[}[^p][\] ^b} ^][ ^w] }j^]q\[ ]\x]b \hb^ ] ^v^} ] }~\[ ^v] b\ ~[vw ] h~}] \v] \ ^ \pw] ^q ^ ] w\ ][} ^]h[][ ^] }w][ ^w] ^qq]h[]\v]w\ ]p\~©[][} ^]h[]}[]}qq ] ~p][ }[© ][ ^hv] [v}[^|w ] \[ h~|] v\~|] h[ ]h[ ] []h[© ] }]ph9^v^~[] [v}[^|w ] ~p] ][ h~ ] ^vhb}© ]b} ^]h ]j^vw] b\ `^qqh~|] [\] xvhb}~] b\ ~[vh^ ] ^w] }~[] [\] ^] h~] h~^ ] h[ ]}] bb^ x q]^b\~\ w] ^v^] \ []`^\`q^] }v^]h~][ ^] hppq^]bq} ] \ ^] ~x\v[ ~}[^qw]}v^] ^q\ ] }~p] \ ^ ]q b hqw]x\v][ ^ ]}v^]} \j^ ] [][ ^]}j^v}|^] `^v \~]h~] ^vhb}] } ]p\~^] \] b ] ^K^v][ }~][ ^] }j^v}|^]`^v \~]h~]q^[© ] }w] h~} E8VER^5>8<4V9C@8]E5>8UE]|>K9K9EC89<8@E9C@8KE8j>468KE8 @5>4K>58@5E=K3}8xRK8=9jj89K8j>468KE8jE=>58]45@9C<z8 88888 >8K4j{>684xERK8K39<8=9K38 578 4C@EK>}8E`8UER5<>8 34<8 48 <K5EC@8 U>]>CK8 xR<9C><<78 E=>58 ]45@9C<8
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The government has to be responsive to them. And so if we have a country, you can say let’s not trade with them or you can trade with them and the natural hand of the marketplace will bring them around
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Culled from bloomberg.com
62
SUNDAY NEWSWATCH, AUGUST 10, 2014
MOTORING
FRIDAY EKEOBA friday.ekeoba@mydailynewswatchng.com
BMW debuts with DC fast charger
B
MW has launched a fast charging station, one capable of juicing up the BMW i3 up to 80 per cent of its capacity in just 30 minutes. The new charger, developed in conjunction with Bosch, is very compact and uses the SAE Combo 1 connector. Rated at 24kW, the fast charger will be compatible with several other EVs and plug-in hybrids made by GM, Ford, Chrysler, Daimler, Volkswagen, Porsche, and Audi. BMW plans to retail the charger, which measures 31 inches by 19 inches and weighs around 100 pounds. The 24kW DC Fast Charger, which BMW touts as being approximately half the size of traditional electric vehicle DC chargers, features a sturdy aluminium IP54 enclosure. Designed to be mounted on a wall, the charger can operate in extreme weather conditions, from -40F to 185F (which describes Minnesotaâ&#x20AC;&#x2122;s annual [^Â&#x2021;`^v}[Â&#x17D;v^]v}~|^ ]`v^Kw]}bbÂ&#x17D;v}[^qwÂŹÂ&#x2C6;]  ^] charger feeds the current directly to the j^ hbq^Š ]Â&#x2013;}K^vwÂ&#x2030;]^~ Â&#x17D;vh~|]}]Â&#x2021;\v^]^½bh^~[] and faster charging session. The charger itself will be available at BMW i Centers starting this month. â&#x20AC;&#x153;This is a milestone in the development of the DC fast charging infrastructure,â&#x20AC;? said EV Infrastructure Manager at BMW of North America, Robert Healey. Â&#x2022; h[ ]Â&#x2021;\v^][ }~]Â&#x2122;j^]w^}v ]\x]v^}q]Â&#x20AC;\vqp] experience, we understand that a robust
network of publicly available DC Combo Fast Chargers is a key part of the mobility of tomorrow.â&#x20AC;? ] h ] }q \] \9^vh~|] Â&#x2013;Â&#x17D;w^v ] \x] [Â ^] i3 free fast-charging sessions at public terminals using the ChargeNow DC Fast program for i3 buyers in California. BMW,
h~] b\\`^v}[h\~] Â&#x20AC;h[ ] ] ^ |\Â&#x2030;] Â&#x20AC;hqq] \9^v] unlimited 30 minute DC charging sessions at at NRG eVgo Freedom Station sites equipped with DC Combo Fast Charging [ v\Â&#x17D;| ][ ^]^~p]\x]¥¤¼¨Â&#x2C6;]^ |\]Â&#x20AC;hqq]Â&#x2013;^]Â&#x2122;^qph~|] at least 100 BMW i3 compatible DC chargers in California as a part of this program.
850-hp Shelby GT500 Super Snake goes on sale
T
 ^] Â&#x2122;v [] ¥¤¼§] \vp]  ^qÂ&#x2013;w] GT500 Super Snake has been delivered to the new Shelby Automotive Museum in Southern California. The 850-hp, Grabber Blue pony car wearing chassis number 14SS0010 will take its place among the rest of Shelbyâ&#x20AC;&#x2122;s classics, and it will also join the Shelby Registry.
 ^qÂ&#x2013;w] Â&#x2021;^vhb}~]h ]\9^vh~|][Â&#x20AC;\] Super Snake packages for 2014. The lesser upgrade adds cosmetic tweaks, a Shelby cooling package, Wilwood front and rear brakes, 20-inch wheels, upgraded tires, }] ~^Â&#x20AC;] Â&#x2021;Â&#x17D;Ă&#x2018;^v] Â&#x161;h[Â&#x2030;] }]  \v[Â[ v\Â&#x20AC;]  h-^vÂ&#x2030;]}~p]}]Â&#x2013;Â&#x17D;~b ]\x] Â&#x17D; `^~ h\~] upgrades. It costs $28,995, in addition to the cost of a GT500,
which is $55,935. The more expensive package includes all of the other upgrades, and it adds a 3.6-liter Kenne Bell supercharger to boost engine output to 850-hp. This package costs $39,995. â&#x20AC;&#x153;Many consider the 2014 Ford Shelby GT500 Super Snake to be the pinnacle of the outgoing solid axle Mustang line,â&#x20AC;? said Joe Conway, CEO of Shelby American. â&#x20AC;&#x153;Carroll was very proud of its breathtaking performance, which Â&#x20AC;} ] p^j^q\`^p] }-^v] \vp] Â&#x17D;``^p] the GT500â&#x20AC;&#x2122;s capabilities in 2012. Since he was personally involved with both the pre-title GT500 and post-title Super Snake package, itâ&#x20AC;&#x2122;s Â&#x2122;Kh~|][Â }[][Â ^]Â&#x2122;v []b}v]\9]\Â&#x17D;v]~^Â&#x20AC;] factory line would be for Carrollâ&#x20AC;&#x2122;s Trust.â&#x20AC;? Only 500 examples will be built at Shelbyâ&#x20AC;&#x2122;s new factory in Las Vegas. Each will be numbered and documented in the Shelby Registry.
Jeep Cherokee, Grand Cherokee recall
A
recall for two different J e e p models has been issued in Australia }9^b[h~|] }qÂ&#x2021;\ [] 20,000 vehicles. It concerns a potential fuel leak issue that b\Â&#x17D;qp] q^}p] [\] }] Â&#x2122;v^] risk, according to the ACCC.  ^] v^b}qq] }9^b[ ] [ ^] ] Â&#x2021;\p^q] Jeep Grand Cherokees built between 1993 and 1998, plus the KJ model Jeep Cherokee manufactured between 2002 and 2007, in regards to a faulty fuel tank. ~] [\[}q] ÂĽÂŁÂ&#x2030;¥¢¨] ] }v^] }9^b[^pÂ&#x2030;] 12,132 Cherokees and 6143 Grand
Cherokees. According to the recall notice, some Jeep Grand Cherokee and Cherokee models â&#x20AC;&#x153;may allow fuel leakage from the fuel tank during low speed collisionsâ&#x20AC;?. In a worst case scenario this could
q^}p][\]Â&#x2122;v^Â&#x2C6;] â&#x20AC;&#x153;Leaking fuel in the presence of an ignition source may result in an Â&#x17D;~p^vÂ&#x2013;\pw] Â&#x2122;v^Â&#x2030;Â ] v^}p ] the notice. â&#x20AC;&#x153; T h i s defect poses a hazard to the driver a n d occupants of the vehicle, in addition to other road users,â&#x20AC;? it states. Â ^] j^Â hbq^ ] }9^b[^p] Â&#x20AC;^v^] \qp] nation-wide in Australia. According to the vehiclesâ&#x20AC;&#x2122; importer, Chrysler Australia, there have been no v^`\v[^p] h~bhp^~[ ] \x] Â&#x2122;v^] h~] v^q}[^p] to the fuel leak issue in Australia.
Alfa SUV to debut soon
T
he mid-sized premium SUV Â&#x2013;}Kq^]b\Â&#x17D;qp]Â&#x2013;^]}Â&#x2013;\Â&#x17D;[][\]|^[]h[ ] most charismatic and stylish challenger, with Alfa Romeo `v\Â&#x2021;h h~|][\]²\h~][ ^]Â&#x2122;| []h~]¥¤¼¡Â&#x2C6; Though Alfa Romeo and Fiat have long promised to dive into the worldâ&#x20AC;&#x2122;s biggest-growing market segment, it has taken almost two decades for the ailing [}qh}~ ][\]Â&#x2122;~}qqw]b\Â&#x2021;Â&#x2021;h[][\][}Â&#x161;h~|]\~][ ^] Audi Q5, the BMW X3, the MercedesBenz GLK and Porscheâ&#x20AC;&#x2122;s Macan. Finally, Alfa Romeo sources insist it is deep into the development phase of not one, but two SUVs, including a larger Q7, X5, Cayenne and M-Class rival due in 2018. \Â&#x17D;vb^ ] }w] Â&#x2013;\[ ] ] Â&#x20AC;hqq] Â&#x2122;~}qqw] deliver on the power and handling promises the brand has been failing to keep in its mainstream production models, with â&#x20AC;&#x153;more than enoughâ&#x20AC;? power to defeat the present premium incumbents. â&#x20AC;&#x153;Alfa hasnâ&#x20AC;&#x2122;t just been waiting on the right new chassis architecture to slot Â&#x2013;^~^}[ ]h[ ] \-Âv\}p^v Â&#x2030;]Â&#x2013;Â&#x17D;[]h[Š ]}q \]Â&#x2013;^^~] waiting on a new family of engines,â&#x20AC;? one qx}] \Â&#x2021;^\] \Â&#x17D;vb^]b\~Â&#x2122;vÂ&#x2021;^pÂ&#x2C6; The new SUVs have been developed as part of its plan to launch eight new
models by 2018, with the most powerful member of the all-new engine family, a biturbo V6, said to be capable of up to 375kW of power. That will be enough to launch Alfaâ&#x20AC;&#x2122;s junior SUV into the thickest part of the `v^Â&#x2021;hÂ&#x17D;Â&#x2021;] Â&#x2122;| [Â&#x2030;] }qq\Â&#x20AC;h~|] h[] [\] [v}p^] punches with the SQ5, the Macan Turbo and the M Performance Automobiles version of the X3. Sources say the new chassis architecture has been geared up around 50:50 front-to-rear weight distribution and has been developed for both rearand all-wheel drive applications, which augers well for the upcoming SUVâ&#x20AC;&#x2122;s chassis balance. The SUV will also have strong diesel variants, too, with Fiat PowerTrain and VM said to be working on a 260kW, 700 Nm 3.0-litre V6, which would give it about 30kW more than the most powerful of the Audi diesel variants, the SQ5.  ^] ]Â&#x20AC;\~Š[]Â&#x2013;^][ ^]Â&#x2122;v []`v\pÂ&#x17D;b[ ] of Alfaâ&#x20AC;&#x2122;s new wave, though, because [ ^] hÂ&#x17D;qh}Â&#x2030;]b\~b^hj^p][\]Â&#x2122;| [][ ^] ] 3-Series, the Audi A4, the MercedesBenz C-Class and the upcoming Jaguar XE, should have its global premiere before the end of next year.
63
SUNDAY NEWSWATCH, AUGUST 10, 2014
PERSONAL FINANCE
Nine financial risks everyone should understand
I
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Specialsituation risk involves your life as well, whether itâ&#x20AC;&#x2122;s the special-needs case, planning for college, saving for a big event like a wedding or something else
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Self- sufficient life Chidozie Christian Okoko
A
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^~b^Â&#x2030;] Â&#x2021;\ [] `}v[ ] \x] Â&#x2013;^b\Â&#x2021;h~|] ^qx Â&#x17D;½bh^~[] h~] }] `}v[hbÂ&#x17D;q}v] q\b}qh[w] h~j\qj^]Â&#x20AC;\vÂ&#x161;h~|]\Â&#x17D;[]Â&#x20AC; }[] w\Â&#x17D;] }v^] Â&#x2021;\ [] p^`^~p^~[] \~Â&#x2030;]}~p] \Â&#x20AC;][\]Â&#x2021;}Â&#x161;^]Â&#x17D; ^] \x] [ ^] v^ \Â&#x17D;vb^] h~] [ }[] q\b}qh[w]Â&#x20AC;h[ ]w\Â&#x17D;v] Â&#x161;hqq Â&#x2C6;  \Â&#x17D;| Â&#x2030;] `^\`q^] }v|Â&#x17D;^] [ }[] [ ^] [\[}qqw] ^qx Â&#x17D;½bh^~[] `^v \~] b}~] Â&#x17D;vjhj^] ^~[hv^qw] }`}v[] xv\Â&#x2021;]  Â&#x17D;Â&#x2021;}~] bhjhqhÂł}[h\~Â&#x2C6;]
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|v\Â&#x20AC;h~|] h ]\Â&#x20AC;~]Â&#x20AC; ^}[Â&#x2C6;] Â&#x17D;[Â&#x2030;] } ] }] ^qx Â&#x17D;½bh^~[] h~phjhpÂ&#x17D;}qÂ&#x2030;] w\Â&#x17D;] p\] ~\[] ~^^p] [\] Â&#x2013;^] p^`^~p^~[] \~] \Â&#x17D;[ hp^] v^ \Â&#x17D;vb^ ] x\v] Â&#x2013;} hb] ~^^p ] }~p] w\Â&#x17D;] }v^] b}`}Â&#x2013;q^] \x] }K^~ph~|] [\] }] Â&#x20AC;hp^] j}vh^[w] \x] w\Â&#x17D;v] ~^b^ }vw] [} Â&#x161; Â&#x2C6;]  h ] b}~] q\Â&#x20AC;^v] w\Â&#x17D;v] hÂ&#x2021;`}b[] \~] ~}[Â&#x17D;v}q] v^ \Â&#x17D;vb^ ] }~p]h~][Â&#x17D;v~]hÂ&#x2021;`v\j^][ ^] b\~ph[h\~] \x] [ }[] q\b}q] ^~jhv\~Â&#x2021;^~[Â&#x2C6; ~^] \x] [ ^] v^} \~ ] \x] Â&#x2013;^b\Â&#x2021;h~|] ^qx Â&#x17D;½bh^~[] h ] [ }[] h~phjhpÂ&#x17D;}q ] Â&#x20AC; \] |v\Â&#x20AC;] [ ^hv] \Â&#x20AC;~] x\\pÂ&#x2030;] }K^~p] [\] Â&#x2021;h~\v] v^`}hv Â&#x2030;] }~p] }j^]}] ^qx Â&#x17D;½bh^~[] qhx^ [wq^] Â&#x20AC;hqq] Â&#x2013;^] q^ ] hÂ&#x2021;`}b[^p]h~]b} ^]\x]q\b}q] \v] v^|h\~}q] ^Â&#x2021;^v|^~bh^ ] [ }[]Â&#x2021;}w]qhÂ&#x2021;h[]v^ \Â&#x17D;vb^ Â&#x2C6;] ^j^v[ ^q^ Â&#x2030;] \Â&#x2021;^] `^\`q^] Â&#x2021;h| [] p^Â&#x2122;~^] Â&#x17D;½bh^~[] h~b\Â&#x2021;^] [\] Â&#x17D;``\v[] [ ^hv] b \ ^~] qhx^ [wq^] Â&#x17D;b ] } ] [ ^] b}v] [ ^w] pvhj^Â&#x2030;] [ ^]  \Â&#x17D; ^] [ ^w] qhj^Â&#x2030;] [ ^] bq\[ ] [ ^w] Â&#x20AC;^}vÂ&#x2030;] [ ^] x\\p] [ ^w] ^}[Â&#x2030;] [ ^] Â&#x161;h~p] \x] b \\q] [ ^hv] b hqpv^~] ^~v\qq] }~p] \[ ^v Â&#x2C6;] Â&#x17D;[Â&#x2030;] ^qx Â&#x17D;½bh^~bw] Â&#x2021;}Â&#x161;^ ] }~] h~phjhpÂ&#x17D;}q] [\] p^j^q\`] resourcefulness, save Â&#x2021;\~^wÂ&#x2030;] h~²^b[] Â&#x2021;\v^] Â&#x20AC;h p\Â&#x2021;] h~] [ ^] Â&#x20AC;}w] w\Â&#x17D;]
qhj^] }~p] Â&#x20AC;\vÂ&#x161;Â&#x2C6;] \Â&#x2030;]  }jh~|] }]Â&#x2122;~}~bh}qqw]\v|}~hÂł^p]qhx^] v^šÂ&#x17D;hv^ ] \Â&#x2021;^] p^phb}[h\~] and work, which is why ~\[] ^j^vw\~^] h ] }Â&#x2013;q^] [\] b\~[v\q] [ ^hv] h~b\Â&#x2021;^] j^v Â&#x17D; ] ^_`^~ ^Â&#x2030;] Â&#x2021;\ [] \x] [ ^][hÂ&#x2021;^Â&#x2C6;]]
\Â&#x20AC;^j^vÂ&#x2030;]hx]w\Â&#x17D;] ^[] [^` ] [\] \v|}~hÂł^] Â&#x2122;~}~b^] Â&#x2013;w] Â&#x2013;^h~|] ^qx]  Â&#x17D;½bh^~[Â&#x2030;] w\Â&#x17D;] Â&#x20AC;hqq]Â&#x2122;~p]\Â&#x17D;[][ }[]h[]h ]x}hvqw] ^} w] }~p] `}h~q^ Â&#x2C6;] h[ ] `^bhÂ&#x2122;b]}~p]p^[}hq^p] [^` Â&#x2030;] w\Â&#x17D;]  \Â&#x17D;qp]Â&#x2013;^]}Â&#x2013;q^][\]Â&#x161;^^`] \v] |^[] w\Â&#x17D;v] Â&#x2122;~}~b^ ] Â&#x2013;}bÂ&#x161;] \~][v}bÂ&#x161;]h~]~\][hÂ&#x2021;^Â&#x2C6; ~][ ^]qh| []\x][ ^]}Â&#x2013;\j^Â&#x2030;] ] Â&#x20AC;hqq] }w] [ }[] Â&#x2013;^h~|] ^qx Â&#x17D;½bh^~[] Â&#x2021;^}~ ] Â&#x2013;^h~|] `^v \~}qqw] }~p] h~p^`^~p^~[qw] Â&#x17D; [}h~}Â&#x2013;q^] x\v] }qq] \x] qhx^Š ] Â&#x2013;} hb] ~^^p ] Â&#x20AC; hb ] h~bqÂ&#x17D;p^Âą] x\\pÂ&#x2030;] bq\[ h~|]}~p]  ^q[^vÂ&#x2C6; ] Â&#x20AC;h[ ] }~w] qhx^ [wq^Â&#x2030;] [ ^v^] h ] }] Â&#x2013;v\}p] `^b[vÂ&#x17D;Â&#x2021;] \x] Â&#x20AC; }[] h[] Â&#x2021;^}~ ] [\] Â&#x2013;^] ^qx Â&#x17D;½bh^~[Â&#x2C6;] ^qx Â&#x17D;½bh^~bw] h ] hÂ&#x2021;`qw] }] |Â&#x17D;hph~|]`vh~bh`q^Â&#x2030;] \]w\Â&#x17D;v] \Â&#x20AC;~] ^_^bÂ&#x17D;[h\~] Â&#x20AC;hqq] j}vw] p^`^~ph~|] \~] Â&#x20AC; }[] Â&#x2013;^ [] Â&#x2122;[ ]w\Â&#x17D;Â&#x2C6;] Courtesy: Chidozie Christian Okoko is co-author of the book, Financial Tutorial: First Aid Treatment to Money Problems. Contacts: 08069734699, chidochrisozonegold@ yahoo.com.
WEALTH & WISDOM
with Lanre â&#x20AC;&#x2DC;Inspiratiâ&#x20AC;&#x2122; Oyetade 08039428648 (SMS only) lanre.oyetade@mydailynewswatchng.com
!"# $%& ' " (%& ") % $' â&#x20AC;&#x201D;Dante
Pondering about â&#x20AC;&#x2DC;cheapâ&#x20AC;&#x2122; money $'*06& 4"U$/& !#& 5'/ 0#& .6'**& _ 3 / .6|& !)0& 6$& 06'0& 4'06$-.&!#&*'!")-&.6'**& /+-$'.$&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& -The Good Book \~^w] h ] p^Â&#x2122;~^p] h~] ^q^Â&#x2021;^~[}vw] b\~\Â&#x2021;hb ] } ] }] Â&#x2021;^phÂ&#x17D;Â&#x2021;] \x] ^_b }~|^Â&#x2030;] }~p] [ ^] q} [] Â&#x20AC;\vp] h~] [ }[] p^Â&#x2122;~h[h\~] ÂŤ^_b }~|^ÂŹ] h ] [ ^] `vh~bh`}q] Â&#x20AC;\vpÂ&#x2C6;]  Â&#x17D; Â&#x2030;]hx]w\Â&#x17D;] }j^]}~w[ h~|]\x]j}qÂ&#x17D;^]w\Â&#x17D;]}v^]}Â&#x2013;q^] [\] ^_b }~|^] Â&#x20AC;h[ ] }~\[ ^v] `^v \~] x\v] }~w] \[ ^v] j}qÂ&#x17D;}Â&#x2013;q^] [ h~|] ÂŤh~bqÂ&#x17D;ph~|] Â&#x2021;\~^wÂŹÂ&#x2030;] [ ^~] w\Â&#x17D;] p\] h~p^^p] }j^]Â&#x2021;\~^wÂ&#x2030;]^j^~]hx]~\[]h~]b}  ]x\vÂ&#x2021;Â&#x2C6; Â&#x17D;[] [ ^v^] h ] }] |v\Â&#x17D;`] \x] h~phjhpÂ&#x17D;}q ] [ }[] }v^] b\~ [}~[qw] q\\Â&#x161;h~|] \Â&#x17D;[] x\v] Â&#x20AC; }[] ]  }j^] b \ ^~] [\] v^x^v] [\] } ] Ă&#x203A;b ^}`Š] Â&#x2021;\~^wÂ&#x2030;] }~p] ] p^Â&#x2122;~^] [ h ] } ] Â&#x2021;\~^w]x\v]Â&#x20AC; hb ]w\Â&#x17D;] }j^]~\[]`}hp]w\Â&#x17D;v]pÂ&#x17D;^ Â&#x;]x\v] Â&#x20AC; hb ]w\Â&#x17D;] }j^]\9^v^p]h~}p^šÂ&#x17D;}[^]\v]~\]j}qÂ&#x17D;^]h~] ^_b }~|^]x\vÂ&#x2C6; 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^] Â&#x2021;Â&#x17D; [] h~p^^p] [}Â&#x161;^] b}v^] \x]  \Â&#x20AC;] Â&#x2021;Â&#x17D;b ] `v^Â&#x2021;hÂ&#x17D;Â&#x2021;] Â&#x20AC;^] `q}b^] \~] Â&#x20AC;^}q[ ] Ă&#x203A;}[] }~w] b\ [Š] }~p]  \Â&#x20AC;] Â&#x20AC;^] |}v~^v] Â&#x20AC;^}q[ Â&#x2030;] x\v] vhb ^ ] \Â&#x17D;[ hp^] [vÂ&#x17D;^] q}Â&#x2013;\Â&#x17D;v] }~p] h~[^|vh[w]  }j^] }] Â&#x20AC;}w] \x] [}Â&#x161;h~|] \~] Â&#x20AC;h~| ]}~p]Âşwh~|Â&#x2030;]}~p]Â&#x2013;vh~|h~|]\~qw] \vv\Â&#x20AC; ]h~] [ ^hv] Â&#x20AC;}Â&#x161;^Â&#x2030;] Â&#x2013;Â&#x17D;[] Â&#x20AC; }[] w\Â&#x17D;] |}[ ^v] Â&#x2013;w]  }vp] }~p] Â&#x2021;}v[]Â&#x20AC;\vÂ&#x161;]Â]}~p]Â&#x2021;\v}qh[w]Â] } ]}]Â&#x20AC;}w]\x] [hbÂ&#x161;h~|] }v\Â&#x17D;~p]x\v]|^~^v}[h\~ Â&#x2C6; q^} ^]Â&#x2013;^]Â&#x20AC;}vw []h ]Â&#x17D;`][\]w\Â&#x17D;][\]Â&#x2013;^]Â&#x20AC;}vw]\x]²Â&#x17D; [] \Â&#x20AC;]w\Â&#x17D;]Â&#x2021;}Â&#x161;^] w\Â&#x17D;v]Â&#x2021;\~^wÂ&#x2030;]x\v]} ][ ^] } [^v]\~b^] }hp]\j^v]¥¤¤¤] w^}v ]Â&#x2013;}bÂ&#x161;Â&#x2030;]Ă&#x203A;Â&#x20AC; }[]p\^ ]h[]`v\Â&#x2122;[]}]Â&#x2021;}~][\]h~ ^vh[] [ ^]Â&#x20AC; \q^]Â&#x20AC;\vqp]}~p]q\ ^] h ] \Â&#x17D;qĂ&#x2DC;Š  h~Â&#x161;]}Â&#x2013;\Â&#x17D;[][ h Ă&#x153; ")&+'/&4'06$-&1$'*06&!#&5'/ 0#%&_" /4&/"06 /4%& ).0& *""f /4&2"-&+6$'(&3"/$#&06-")46&'/#&3$'/.|&!)0&3".0& ($"(*$& /&06 .&+'0$4"-#&$/_&)(&1 06&)/!$'-'!*$&-$4-$0 David O. Oyedepo
64
SUNDAY NEWSWATCH, AUGUST 10, 2014
GLOBAL BUSINESS
Obama sees US opportunities in Africa William Anaebonam with agency report
U
S President Barack Obama said the fast growing economies of Africa represent one of the greatest opportunities for the US to extend its commercial reach and doing so v^šÂ&#x17D;hv^ ] }] b\~b^v[^p] ^9\v[] Â&#x2013;w] business and government. The president highlighted $33 billion in commitments to Africa: $14 billion in h~j^ [Â&#x2021;^~[ ] Â&#x2013;w] b\Â&#x2021;`}~h^ ] including General Electric and Coca Cola, $7 billion h~] Â&#x2122;~}~bh~|] [\] `v\Â&#x2021;\[^] ] exports and $12 billion for an h~h[h}[hj^] [\] p\Â&#x17D;Â&#x2013;q^] }j}hq}Â&#x2013;hqh[w] \x] ^q^b[vhbh[w] h~] Â&#x17D;Â&#x2013; } }v}~] Africa. â&#x20AC;&#x153;Even as Africa continues to face enormous challenges,â&#x20AC;? he }hp] }[] [ ^]  xvhb}] Â&#x17D; h~^ ] Forum in Washington, â&#x20AC;&#x153;we cannot lose sight of the new Africa that is emerging.â&#x20AC;? The president is seeking to  h-] [ ^] ] x\bÂ&#x17D; ] h~] xvhb}] toward fostering investment and trade, instead of the traditional emphasis on providing aid. The forum, which includes more than 90 US companies, h ] `}v[] \x] }] [ v^^Âp}w] Â&#x17D;Â&#x2021;Â&#x2021;h[] }K^~p^p] Â&#x2013;w] Â&#x2021;\v^] [ }~] §¤] African leaders. The administrationâ&#x20AC;&#x2122;s aim is forging more robust trade and commercial ties in Africa to tap some of the worldâ&#x20AC;&#x2122;s fastest growing economies. China has overtaken the US, [ ^] Â&#x20AC;\vqpŠ ] q}v|^ [] ^b\~\Â&#x2021;wÂ&#x2030;] as Africaâ&#x20AC;&#x2122;s biggest trading partner with a relationship that ^_b^^p^p]㥤¤]Â&#x2013;hqqh\~]q} []w^}vÂ&#x2C6;] Thatâ&#x20AC;&#x2122;s more than double US trade with Africa. ]  h~}Š ] [}[^Â\Â&#x20AC;~^p] enterprises have rolled out `v\²^b[ ] h~] ^j^vw] b\Â&#x17D;~[vw] on the continent, including  wpv\^q^b[vhb] p}Â&#x2021; Â&#x2030;]  h| Â&#x20AC;}w ] and rail lines linked to the extraction of natural resources. â&#x20AC;&#x153;The United States is determined to be a partner in Africaâ&#x20AC;&#x2122;s success,â&#x20AC;? Obama said. Â&#x2022; ^] p\~Š[] hÂ&#x2021;`qw] Â&#x20AC;}~[] [\] extract minerals from the ground for our growthâ&#x20AC;? he said, drawing an indirect contrast to Chinaâ&#x20AC;&#x2122;s approach.  ^] }pÂ&#x2021;h~h [v}[h\~Š ] [v}[^|w] q^}~ ] ^}jhqw]\~] ]b\Â&#x2021;`}~h^ ] investing in Africa, which Obama said would increase ^Â&#x2021;`q\wÂ&#x2021;^~[]h~][ ^] ]} ]Â&#x20AC;^qqÂ&#x2C6;] GE announced plans to invest ĂŁÂĄ]Â&#x2013;hqqh\~]h~][ ^]v^|h\~]Â&#x2013;w]¥¤¼£] and double its workforce on the continent. Ford Motor is looking to expand its manufacturing in
Obama US president
Africa. Â&#x2022; j^vw[ h~|] h ] `\h~[h~|] toward a surge in the African ^b\~\Â&#x2021;wÂ&#x2030; ] hÂ&#x2021;] ^~h~[^~p^Â&#x2030;] Fordâ&#x20AC;&#x2122;s head of operations in the Middle East and Africa, said in }~]h~[^vjh^Â&#x20AC;]w^ [^vp}wÂ&#x2C6;] The World Bank projects a 5.2 percent growth rate for Â&#x17D;Â&#x2013;Â] } }v}~] Africa this w^}vÂ&#x2030;] pvhj^~] Â&#x2013;w] vh h~|] investment in natural resources and infrastructure, and strong household spending. ~ ^ v | w] shortages are a major obstacle to more robust growth. About 70 percent of the population l a c k s ^ q ^ b [ v h b h [ wÂ&#x2030;] according to the International ~ ^ v | w] |^~bwÂ&#x2C6;] The Obama administration has proposed a Power Africa program, Â&#x20AC; hb ] [hqq] v^šÂ&#x17D;hv^ ] }b[h\~] Â&#x2013;w] \~|v^ Â&#x2030;]}]Â&#x2122;j^Âw^}v]ã¢]Â&#x2013;hqqh\~] plan to double access to power h~] [ h\`h}Â&#x2030;]  }~}Â&#x2030;] ^~w}Â&#x2030;] Liberia, Nigeria and Tanzania. ~] }pph[h\~Â&#x2030;] `vhj}[^] ^šÂ&#x17D;h[w] Â&#x2122;vÂ&#x2021;] q}bÂ&#x161; [\~^] v\Â&#x17D;`] ] is in a $5 billion partnership
with Aliko Dangote, president of Dangote Group and Africaâ&#x20AC;&#x2122;s richest man, for power projects h~] Â&#x17D;Â&#x2013; } }v}~] xvhb}Â&#x2C6;] â&#x20AC;&#x153;The total need for power in Africa is $300 billion,â&#x20AC;? Steve Schwarzman, Blackstoneâ&#x20AC;&#x2122;s chief executive o f f i c e r , said in an interview with Bloomberg Television. â&#x20AC;&#x153;So the power initiatives of the current administration, our own joint venture with Dangote, is v^}qqw] ²Â&#x17D; [] scratching the surface of what the full needs are.â&#x20AC;? ^ ` } v } [ ^ q wÂ&#x2030;] }vqwq^] v\Â&#x17D;`] is investing an unspecified amount with Dangote in N i g e r i a n oil and gas v e n t u r e s and other Â&#x17D; Â&#x2013;  }  } v } ~] projects. In addition to the private investments, the US plans to add 10 trade missions in African countries and expand its presence in other parts of the b\~[h~^~[Â&#x2030;] \Â&#x2021;Â&#x2021;^vb^] ^bv^[}vw] ^~~w] vh[ÂłÂ&#x161;^v] }hpÂ&#x2C6;] Â&#x17D;Â&#x2013; } }v}~] xvhb}] [hqq] represents a small portion of US trade, accounting for 1.5 percent of all exports and 1.7 percent of imports.
Even as Africa continues to face enormous challenges, he said at the US-Africa Business Forum in Washington, â&#x20AC;&#x153;we cannot lose sight of the new Africa that is emergingâ&#x20AC;?
Â&#x2022; ^]  }j^] [\] p\] Â&#x2013;^K^vÂ&#x2030;] Â&#x2021;Â&#x17D;b ] Â&#x2013;^K^vÂ&#x2030; ] Â&#x2013;}Â&#x2021;}] }hpÂ&#x2C6;] Â&#x2022; ] Â&#x20AC;}~[] xvhb}~ ] Â&#x2013;Â&#x17D;wh~|] more American products. I Â&#x20AC;}~[] Â&#x2021;^vhb}~ ] Â&#x2013;Â&#x17D;wh~|] Â&#x2021;\v^] African products.â&#x20AC;? To draw more US investment, the administration is pressing African leaders at the summit to protect human rights, ^ `^bh}qqw] x\v] Â&#x20AC;\Â&#x2021;^~Â&#x2030;] bÂ&#x17D;vÂ&#x2013;] corruption and foster more [v}~ `}v^~[]Â&#x2122;~}~bh}q] w [^Â&#x2021; Â&#x2C6;] Good Governance â&#x20AC;&#x153;Capital is one thing,â&#x20AC;? Obama said. Â&#x2022; Â&#x17D;q^] \x] q}Â&#x20AC;Â&#x2030;] v^|Â&#x17D;q}[\vw] reform, good governance?  \ ^] [ h~| ] Â&#x2021;}K^v] ^j^~] moreâ&#x20AC;? because investors want to be able to do business Â&#x20AC;h[ \Â&#x17D;[] Â&#x2022;`}wh~|] }] Â&#x2013;vhÂ&#x2013;^] \v]  hvh~|] \Â&#x2021;^Â&#x2013;\pwŠ ]b\Â&#x17D; h~Â&#x2C6; ] Africaâ&#x20AC;&#x2122;s biggest need, he said, is â&#x20AC;&#x153;laws and regulations and structure that empower the individualâ&#x20AC;? and donâ&#x20AC;&#x2122;t hÂ&#x2021;`qw] `v^ ^vj^] Â&#x2022;`\Â&#x20AC;^v] x\v] [ \ ^]}[][ ^]j^vw][\`Â&#x2C6; ] Obamaâ&#x20AC;&#x2122;s message was v^h~x\vb^p] Â&#x2013;w] \[ ^v] `^}Â&#x161;^v ] pÂ&#x17D;vh~|][ ^]p}wÂq\~|] ^ h\~Â&#x2C6;] â&#x20AC;&#x153;To expand growth and }Kv}b[] |v^}[^v] h~j^ [Â&#x2021;^~[Â&#x2030;] Africa will need to develop more open, secure and competitive capital markets that can provide access to Â&#x2122;~}~bh~|] x\v] |\j^v~Â&#x2021;^~[ Â&#x2030;] businesses and families,â&#x20AC;? v^} Â&#x17D;vw] ^bv^[}vw] }b\Â&#x2013;] Â&#x2C6;] Lew said at the forum earlier [\p}wÂ&#x2C6;] Former US President Bill Clinton said during a panel discussion at the business x\vÂ&#x17D;Â&#x2021;] [ }[] xvhb}] \9^v ] }] Â&#x2021;} hj^] \``\v[Â&#x17D;~h[w] [\] American companies that have been slow to invest there. â&#x20AC;&#x2DC;Missing the Boatâ&#x20AC;&#x2122; â&#x20AC;&#x153;It strikes me that weâ&#x20AC;&#x2122;ve \~qw] Â&#x2013;}v^qw] bv}[b ^p] [ ^] surface of what we could and should be doing there, and that weâ&#x20AC;&#x2122;re missing the boat,â&#x20AC;? Clinton said.  ^]  xvhb}] Â&#x17D; h~^ ] \vÂ&#x17D;Â&#x2021;]h ] \ [^p]Â&#x2013;w] q\\Â&#x2021;Â&#x2013;^v|] Philanthropies and the US Commerce Department. Bloomberg Philanthropies h ]q^p]Â&#x2013;w] hb }^q] q\\Â&#x2021;Â&#x2013;^v|Â&#x2030;] [ ^] x\Â&#x17D;~p^v] }~p] Â&#x2021;}²\vh[w] owner of Bloomberg, the parent of Bloomberg News. Tomorrow, Obama hosts the African leaders at the State Department for p}wq\~|] ph bÂ&#x17D; h\~ ] \~] topics including sustainable development, regional peace }~p] [}Â&#x2013;hqh[wÂ&#x2030;] }~p] hÂ&#x2021;`v\jh~|] governance. Former President George W. Bush, known for his b}Â&#x2021;`}h|~] [\] Â&#x2122;| [] Âť ] in Africa, will speak to a ^ h\~]\~] ^}q[ ]`\qhbwÂ&#x2C6;] The summit will conclude at [ ^]^~p]\x][ ^]p}w]}~p] Â&#x2013;}Â&#x2021;}] `q}~ ]}]~^Â&#x20AC; ]b\~x^v^~b^Â&#x2C6;]Â]
Russian tensions, weak German data hurt European assets
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uropean stocks fell while nervous investors took refuge h~] h| Âv}[^p]Â&#x2013;\~p ]\~]v^`\v[ ] \x]}]Â&#x2013;Â&#x17D;hqpÂÂ&#x17D;`]\x] Â&#x17D; h}~][v\\` ]~^}v] the border with Ukraine. The euro came under pressure, [v}ph~|] }[] ~h~^ÂÂ&#x2021;\~[ ] q\Â&#x20AC;] }|}h~ [] [ ^]p\qq}v]}Â&#x2021;hp][ v^}[ ]\x]v^[}qh}[\vw] Russian sanctions against the European Union, and signs the crisis h~] Â&#x161;v}h~^] Â&#x20AC;} ]  hKh~|] Â&#x17D;v\`^Š ] Â&#x2013;h||^ []^b\~\Â&#x2021;w] ^vÂ&#x2021;}~wÂ&#x2C6; German industrial orders slid h~] Â&#x17D;~^] }[] [ ^hv] [^^`^ [] v}[^] h~b^] ^`[^Â&#x2021;Â&#x2013;^v]¥¤¼¼Â&#x2030;]Â&#x20AC;h[ ][ ^]^b\~\Â&#x2021;w] Â&#x2021;h~h [vw] }wh~|] |^\`\qh[hb}q] [^~ h\~ ] }p]`v\Â&#x2013;}Â&#x2013;qw]q^p][\]Â&#x2021;\v^] cautious ordering. Â&#x2022; ^] }v^] |^Kh~|] bq\ ^v] [\] }] h[Â&#x17D;}[h\~] Â&#x20AC; ^v^] Â&#x20AC;^] v^}qqw]  }j^] }~] ^ b}q}[h\~] \x] [ ^] b\~Âşhb[Â&#x2C6;Â&#x2C6;Â&#x2C6; }~b[h\~ ] being stepped up, and things moving out of control,â&#x20AC;? said Elwin de Groot, senior market economist at Rabobank. European stocks fell 0.6 percent  \v[qw] }-^v] ] \`^~Â&#x2030;] Â&#x20AC; hq^] Š ] Â&#x20AC;\vqp] ^šÂ&#x17D;h[w] h~p^_] Â] Â&#x20AC; hb ] [v}bÂ&#x161; ]  }v^ ] h~] §¨] b\Â&#x17D;~[vh^ ] Â] Â&#x20AC;} ] p\Â&#x20AC;~] ¤Â&#x2C6;ÂŚ] `^vb^~[Â&#x2C6;] \qq}vÂ[v}p^p] Â&#x17D; h}~] [\bÂ&#x161; ] h[]}][ v^^ÂÂ&#x2021;\~[ ]q\Â&#x20AC;Â&#x2C6; In China, the CSI300 of the leading  }~| }h] }~p]  ^~³ ^~]   }v^] qh [h~| ] v^b\j^v^p] }-^v] x}qqh~|] } ] much as 1 percent during Asian hours. ^vÂ&#x2021;}~]¼¤Âw^}v]Â&#x2013;\~p]wh^qp ]x^qq]ÂŚ] basis points to 1.15 percent.  ^] Â&#x2021;\j^] [}v[h~|]  \v[qw] }-^v] Polandâ&#x20AC;&#x2122;s foreign minister said Â&#x17D; h}Š ] Â&#x2021;hqh[}vw] `v^ ^~b^] \~] [ ^] Ukrainian border was designed to put pressure on the neighbouring b\Â&#x17D;~[vw]\v]} ]}]`v^qÂ&#x17D;p^][\]^~[^vh~|] it. Â&#x17D; h}~] vhÂ&#x2021;^] h~h [^v] Â&#x2021;h[vw] Medvedev also threatened to retaliate for the grounding of }] Â&#x17D;Â&#x2013; hph}vw] \x] ~}[h\~}q] }hvqh~^] ^v\Âş\[] Â&#x2013;^b}Â&#x17D; ^] \x] ] }~b[h\~ Â&#x2030;] with a newspaper reporting that Â&#x17D;v\`^}~]Âşh| [ ][\] h}]\j^v] hÂ&#x2013;^vh}] could be banned. Risk aversion and upbeat U.S. economic data, which included a `hÂ&#x161;^] h~] ^vjhb^ ^b[\v] }b[hjh[w] [\] }] ~h~^Âw^}v] `^}Â&#x161;] }~p] }] Â&#x17D;`[hbÂ&#x161;] h~] x}b[\vw]\vp^v Â&#x2030;] ^q`^p]qh-][ ^]p\qq}v] [\]}~]ÂĽÂĽÂÂ&#x2021;\~[ ] h| ]}|}h~ []}]Â&#x2013;} Â&#x161;^[] of major currencies. The dollar index rose to as high } ]ÂŁÂĽÂ&#x2C6;¡Œ¢Â&#x2030;]h[ ] h| ^ []q^j^q] h~b^]q} [] September, before falling back to ÂŁÂĽÂ&#x2C6;¨¨¨]}-^v] Â&#x17D;v\`^Š ]\`^~Â&#x2C6; The New Zealand dollar skidded [\][Â&#x20AC;\ÂÂ&#x2021;\~[ ]q\Â&#x20AC; ]}-^v]Â&#x2021;hqÂ&#x161;]`vhb^ ] x^qq] }|}h~] }[] }~] }Â&#x17D;b[h\~]  ^qp] Â&#x2013;w] \~[^vv}] \Â\`^v}[hj^] v\Â&#x17D;`Â&#x2030;] [ ^] Â&#x20AC;\vqpŠ ]Â&#x2013;h||^ []p}hvw]^_`\v[^vÂ&#x2C6; Oil prices remained under pressure as plentiful supplies in Europe and North America outweighed fears that violence in the Middle East and North Africa could disrupt production. Brent crude edged up 25 cents [\] 㼤§Â&#x2C6;ÂŁÂŁÂ&#x2030;] Â&#x2013;Â&#x17D;[] [ }[] x\qq\Â&#x20AC;^p] h[ ] weakest close since November ¥¤¼ŒÂ&#x2C6;] Â&#x2C6; Â&#x2C6;]bvÂ&#x17D;p^]Â&#x20AC;} ]ÂĄÂĽ]b^~[ ]Â&#x2122;vÂ&#x2021;^v] at $97.59, following its lowest ^Kq^Â&#x2021;^~[] h~b^]^}vqw] ^Â&#x2013;vÂ&#x17D;}vwÂ&#x2C6; \qp] x}hq^p] [\] |^[] Â&#x2021;Â&#x17D;b ] \x] }] qh-] xv\Â&#x2021;] }x^ }j^~]Âş\Â&#x20AC; ]}~p]hpq^p]}[] $1,291.70 an ounce.
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