Sunday e version 06 march 2016 by Daily Newswatch

EFCC, toothless bulldog â&#x20AC;&#x201C; Obasanjo Mallam Nuhu Ribadu-led EFCC was the only

( ( Not comfortable with the performance of the ormer President Olusegun Obasanjo yesterday described anti-graft commission, Obasanjo recalled that the Economic and Financial when Ribadu was in the saddle, he performed CrimesCommission EFCC) as a very well which earned him the sobriquet â&#x20AC;&#x2DC;the *% % + % % The former president, however, urged President ' % % 79th birthday celebration, adding that Muhammadu Buhari and all stakeholders to look

BOLU-OLU ESHO, Abeokuta

into the challenges that incapacitated the . / *% % handling EFCC, he handled it in such a way that people coined the saying that â&#x20AC;&#x2DC;the beginning of wisdom is the fear of Nuhu Ribaduâ&#x20AC;&#x2122; and then the question you will ask

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Pardon detained Shiite members, group begs Nigerian Army >> Page xx

Continued on page 2

Newswatch Times -Tradition built Truth -Tradition built onon Truth

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Imo State Governor, Owelle Rochas Okorocha (centre), with some Southern Governorsâ&#x20AC;&#x2122; wives: Lagos State, Mrs. Bolanle Ambode (right); Osun State, Mrs. Sherifat Aregbesola (left);

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BUHARI ASSURES NIGERIANS:

I HAVENâ&#x20AC;&#x2122;T FAILED AGAINST Bâ&#x20AC;&#x2122;HARAM Duro Adeseko

resident Muhammadu Buhari has again assured Nigerians and the international community that he Boko haram insurgents nine months after mounting the saddle as the helmsman of the

Ogun police debunks Yoruba, Hausa clash >> Page 5

President Buhari who spoke to Al Jazeera about his campaign against graft and why he is adamant that he hasnâ&#x20AC;&#x2122;t failed in the he believes the security of his country is best served by being part of the Saudi-led Islamic

317 police officers inadequate to protect 170m Nigerians â&#x20AC;&#x201C;IGP >> Page 3

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( remains active in many parts of the anti-terrorism coalition announced in north east with the uncanny ability !"#$ Yesterday, the Department of Buhariâ&#x20AC;&#x2122;s election campaign was anchored on pledges to root out State Services (DSS) informed that in line with % &% Nigerians Continued on page 2 that has taken some parts of the north

Group urge FG to revive moribund industries >> Page 3

Suspected cases of diarrhea in Benue IDP camp

>> Page 4

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

NEWS

I havenâ&#x20AC;&#x2122;t failed against Boko Haram Continued from page 1

its statutory mandate, and avowed commitment to national security, the service has recorded positive milestones in strategic and tactical operations embarked upon across the country. The DSS said on March 2nd, 2016, one Musa Garba Abubakar a.k.a Muhadis Musa Bin Haddad, was arrested in Jos, Plateau State, during a special tactical operation by the Service. Abubakar is a major gun fabricator, arms-runner and a covert linkman/courier for the Boko Haram group. During his arrest, 2 pistols, 80 rounds of live ammunition and several sensitive documents were recovered from him. In a bid to employ propaganda to manipulate the international community against the

< = ( ongoing war against terror in the north eastern region, MUSA had approached a foreign mission in Nigeria for logistics % Haram. However, unknown to the mission, he is actually an unauthorized gun-maker/runner with intent for mischief and communal strife in the North Central region. In furtherance of exploited leads, the DSS apprehended other suspected associates of the gun-runner, namely: Umar Khalil Muhammed and Mohammed Yakubu Tahir a.k.a Mallam Yaro, on March 2nd, 2016. Muhammed was arrested at Layin Oscar in Jos South LGA, while Tahir was reportdly picked up at Mista Ali area, along Jos-Zaria road in Bassa LGA. The two are accomplices and active marketers of Abubakar and his products to criminal elements in the north central region of the country. In strengthening its counter-terrorism strategy, the DSS also said it arrested one Armayaâ&#x20AC;&#x2122;u Yakubu a.k.a Ali Tekwando, Yakubu Sule and Usman Ibrahim on March 3rd, 2016, at Hayin Danmani area in Kaduna metropolis. The trio were said to be members of an extremist cell under the coordination of Yakubu, with @ group, Ansaru and have been perfecting plans to travel to Sudan, for terrorist training with other radical elements of the group.

Buhari

The DSS said it wishes to reemphasize

( % organized vices and criminalities by terrorists, kidnappers, fraudsters and other deviant elements in the Country. It also wishes to urge law abiding Nigerians and indeed, all residents to continue to support law enforcement/security agencies, with proactive and actionable intelligence, for the sustenance of peace, law and order. Last week, President Buhari received @ Q 1 on Buhariâ&#x20AC;&#x2122;s latest trip of many to boost Nigeriaâ&#x20AC;&#x2122;s standing abroad. He is seeking support for his crackdown on corruption and to encourage much-needed investment in Nigeriaâ&#x20AC;&#x2122;s ailing economy. Q % V W X % 1 [ %

\VX1[] * Africaâ&#x20AC;&#x2122;s largest oil producer. The low oil price has a devastating impact on the Nigerian economy, which has long depended on the export of oil. â&#x20AC;&#x153;We were unable to diversify our economy, hence we are much more disadvantaged by the lower oil prices,â&#x20AC;?

Buratai

Buhari he told his host. He maintained that he values the

% VX1[ /* VX1[ _ With a chorus of voices, including `{< * government to devalue the naira, Buhari said he will not reconsider his insistence on freezing the currency because according to him, Nigeria virtually imports everything, from rice to toothpicks and it cannot ( % % He asked: â&#x20AC;&#x153;If it is against our national

`{< advice?â&#x20AC;? } VX1[ % needs to take action to stabilize the oil market because crude prices have fallen to â&#x20AC;&#x153;totally unacceptableâ&#x20AC;? levels. Nigeria, Africaâ&#x20AC;&#x2122;s biggest oil producer which earns around 90 percent of its foreign exchange from crude oil exports, has been hit hard by the erosion of vital revenues caused by the global slump in oil prices which has also hammered its currency. â&#x20AC;&#x153;The current market situation in the oil industry is unsustainable and totally

% _ % Q % during a meeting in Doha. And, speaking on the second day of his visit, Buhari highlighted the need

VX1[ Â&#x20AC;VX1[ % . /Â must cooperate both within and outside % ( W common ground to stabilize the market.â&#x20AC;? However, Venezuelaâ&#x20AC;&#x2122;s oil minister said Q +% } % ' agreed to a meeting in mid-March as part W % < ' * Q signed two bilateral agreements to â&#x20AC;&#x153;boost economic cooperationâ&#x20AC;? between the countries. There was an agreement to avoid double taxation and tax evasion as well as another % ( Â&#x192; between major cities of both countries. On crisis in Nigeria, the President gave % Â&#x192;

% Biafra actualization and Boko Haram insurgency. According to him, poverty, injustice and lack of job opportunities were largely responsible for inter communal clashes in Nigeria. The leader of the nation said that to achieve lasting peace in Nigeria, bigger

% % ( Â&#x201E;% % Â&#x192; % as obvious manifestations of fundamental problems of joblessness, injustice and poverty. } Â&#x192;

and herdsmen, Buhari stated that a plan to map out grazing areas will soon be presented to the Nigerian Governors < % % Â&#x192; % ~ are convinced to accept other means of

~ The leader of the country praised the Centre for Humanitarian Dialogue for the comparative peace that had returned to Plateau State as well as their current activity in Southern Kaduna. President Buhari agreed with the Centre that dialogue was always desirable to the use of law and order mechanisms and power

% Â&#x192;

EFCC, toothless bulldog â&#x20AC;&#x201C; Obasanjo way that we believe will serve our country, serve our sub-region, West that? Africa, our Region of Africa and indeed â&#x20AC;&#x153;Nuhu Ribadu is still here, he is still alive. The institution we started together the world we leave in. â&#x20AC;&#x153;I summarized that the solution lies is still there, but what made the institution to become a toothless bulldog? What? in six areas; at home, in the community, ' ~ (

in the Church/Mosque, in the schools/ looking at so that we donâ&#x20AC;&#x2122;t take two steps colleges, in the state-local, state and federal forward, one step aside and three steps government and in the international community, at each of these, we do things back.â&#x20AC;? } that we should not do and we leave undone what we should do. insurgence, Boko Haram in the country, â&#x20AC;&#x153;Therefore, people have or they see Chief Obasanjo suggested development % perceived injustice or perceived grievances violent extremism in the world adding and they try to react. But as I said yesterday, that if the insurgence groups could when you have to treat violent extremism develop technology to achieve their cause, and radicalization as an issue, then it costs itâ&#x20AC;&#x2122;s imperative to adopt the same method you more, what we should do which will ( in stopping the tide. He ascribed insurgence to lack of prevent and if we do what we should do fairness and justice by institutions in at all those areas, we should be able to the world including religious bodies for prevent. â&#x20AC;&#x153;One of the things we now have to failing, which he observed failed in their responsibilities towards having a safer take seriously is technology because technology impacts on us daily life, itâ&#x20AC;&#x2122;s society. Obasanjo said: â&#x20AC;&#x153;The world is interested built to our homes, itâ&#x20AC;&#x2122;s in our pocket and if those who wants to do anything to make in what can be done to stem the tide and I think what we did yesterday, we life unbearable for us in terms of security, then we must also use technology as the made our own contribution in a Continued from page 1

antidote and the means by which we can us.â&#x20AC;? Present at the celebration are Ministers of Science and Technology and Transportation; Ogonnaya Onu and Rotimi Amaechi respectively. The two ministers described the former President as an institution, a gift to Nigeria and a detribalized Nigerian. According to Onu, â&#x20AC;&#x153;Obasanjo is a man who has become an institution, a special gift that God gave to Nigeria. At every time the nation faces challenges, God has used Obasanjo to get us out of the problem and there are so many paths to this unique personality.â&#x20AC;? The Senate Minority Leader and former Governor of Akwa Ibom State, Godswill Akpabio, in his comment, described Obasanjo as a man who loved justice adding that the ruling class believed in his leadership, vision and prophesy. Akpabio recalled how he defeated 57 Aspirants during the primaries that earned him the governorship ticket in the state and how every stakeholder were bribed to stand against him except Obasanjo. Among other dignitaries at the event are Governor Ibikunle Amosun of Ogun

State; the acting Chairman of the All Progressives Congress, Segun Oni; former Governors of Osun, Cross Rivers and Adamawa States, Olagunsoye Oyinlola, Liyel Imoke and Bala Ngilari respectively, amongst others. < Â&#x2020; X ' % ' % who donated N25 million to Center for Human Security was represented by the Chairman of Board of Trustees, American University of Nigeria, Akin Â&#x2021; Â&#x20AC;1 % = ( ` State, Rochas Okorocha and Minister Â&#x2C6;% '~ = < ' % { represented.

Obasanjo

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) * %+G , $$ ,G ยป, ) G % G &)$ )G G ) * %+G ย + ",G ย , " )G - G &% &# G . + G + G %&G + + G &- )%&)ย G )Gย ,## G $ )G % ,! G&- )G+ G + G & G *G$&+ )ยช ย +G + G ,) #G & G + G # + G ! 0 G $ +,G $ ),G % ,! ย G ) * %+G ยป, ) G * ) G *G G .&$ %G & G - )+, G % G - * &%ย G . &G )&, +G,'G )G # ) %ย G. + G *+)&% G* %* G& G', # G* )- ยช ! 0 G $ +,G % ,! G . *G+ G$&+ )G& G %&G + G &- )%&)ย G )ยชG ย ,## G $ )G % ,! ยช % &)G ' #G ย ** *+ %+G +&G ) * %+G ยป, ) G &%G G % G , # +0ย G # $G ) G ,ย G * G ) * %+G ยป, ) G $ G + G ) $ )"G %G *G &% &# % G$ ** ยช G $ ** G . *G ) G &%G # G& G ) * %+Gยป, ) G 0G G &- )%$ %+G # + &%G & G % *+ )*G G* %+G+&G) ') * %+G $G& G+ G ,) #G ) $&%0G& G + G # + G ! 0 G $ +,G +G % ,! G- ## G %G %&ยช ย #*&ย G &)$ )G G

) * %+G ย + ",G ย , " )G %G G *+ + $ %+G **, G 0G *G G @ GG G %G ย ,! G &% &# G . + G % ,! G &- )G + G + G & G *G $&+ )ย G %&+ % G+ +G+ G * G G # - G#&% G %&, G+&G. +% **G )G # ) %G ) # 1 G + )G ) $*G % G *' ) + &%*G %G + )G')& ** &% #G ) )ยช

$ # )#0ย G + G %&G + + G &$$ ** &% )G &)G % &)$ + &%ย G ยบ&,+ *G % G '&)+*ย G &$) G & $$ G ) ย G ) $ )" G + +G + G + G *G G # **&%G +&G - )0 & 0G % G +&G + *G /+ %+G ## G &%G $ $ )*G & G + G ', # G +&G ,' &# G && G &% , +ยช

)&$ % %+G $&% G + &* ย G . &G ' G &% &# % G - * +G +&G &- )%&)G % ,! ย G % #, ย G &- )%&)*G ย # 0,G $ ,. #G & G &"&+&G + + ย G ยป ),Gย , " )G& G . ย G ยง * ),GG #F , GG& G ,% ย G % #, % G % +&)*G ยป ) ,G

) %ย G G ย # 0,G + )" G % Gยด $$ "&ยช

+&G + ย G !,*+G *G G # $ %+ G + +G G + $ G G ' &% G +&G ) $ % G $ย G G& + %G %&) *G $0G) % &$G ##*ยช &##&. % G + G # % ) % G ),*+) + &%ย G &,'# G . + G + G ')&%&,% G ,%. ## % % **G & G + G # .$ " )G +&G * ~G# G + G &,+*+ % % G +ย G G G %&G &'+ &%G+ %G+&G &$$ % G+ G ')& **G& G &)$ ##0G' + + &% % G + G ) B G &$$ ** &%G +&G %+ )- % ย G *&G *G +&G # + + G + G *' 0G ) &- )0G & G *G &,+*+ % % G +ย G . G *G * % G +G G ) "G. ##ยช %. # ย G ##G G&)+*G+&G) F *+ # * G ) * G &%+ +G. + G+ G # .$ " )G # ย G &##&. % G G ')& ) $$ G ) *'&%* G + +G + G *, * ) )G %%&+G G ) ย G+)0G %G# + )ยช C 0G ' )* *+ %+G % # +0G +&G ) G &,+G +&G $G % &)$ G $0G * &%G +&G &$$ % G + G')& **G+&G#& GG G &)$ #G ' + + &%G & G $0G # $$ G +&G + G ) B G &$$ ** &%G &)G !, + &%ย G *G G - G &% G % G %G+ )G ) +) + &%G ')& G % 0G +&G ')& G )G %G % ,) % G *&#,+ &%G +&G + G # % ) % G +G* BBยช

+ + + + + +@ + J 6 >6 6

G ยบ&,+ G ย ** $ #0G & G ยง ) G ?ยบย ยง@ย G ยป %, G + + G '+ )ย G *G &,+# % G *'&)+*ย G , + &%G % G &%&$ G $'&. )$ %+G *G % + + - *G +&G $'&. )G0&,+ *G % G - G + $G G* %* G& G #&% % G %G + G*& +0ยช G *' " )G & G + G *+ + G '+ )G & G ** $ #0ย G &%ยชG ย $&*G ย G . &G ,%- # G + G #, ') %+G +G + G % , ,) + &%G ) $&%0G & G + G ** $ #0B*G / ,+ - *ย G 0 *+ ) 0ย G %G ",) ย G + G + G % + + - ย G C G ย G ยป ยง Gยบ ยชร

ย &) % G +&G ย G *'&)+*G ) G&% G& G+ G$&*+G G + - G $ %*G & G $'&. ) % G + G 0&,+ *ย G % G + +G * G #' % G + G 0&,+ *G +&G *+ 0G #+ 0ย G +G ')&- *G &''&)+,% +0G &)G 0&,% G ' &'# G +&G # )%G *" ##*G + +G . ##G * )- G + $G + )&, &,+G + )G# - *ยช G *' " )G /'# % G + +G *G $ % *+) + &%G #*&G %+ % *G & ,* % G ') $ ) #0G &%G ,#+,) #G +) % *G %G &%&$ *ย G % + ) ' ) % , ) * ' ย G , + &%G % G"%&.# G+&G #'G+ G0&,+ *G,% )*+ % G + G- #, G& G$&% 0ยช G /'# % G ,)+ )G + +G *G $ % *+) + &%G

C.&,# G %% #G 47<G & G +*G % ) + G ) - %, G + )&, G + *G' +G')&! +G+&G ** *+G+ G , + &% #G - #&'$ %+G & G &,)G ##&.G 0&,+ *G + )G + )&, G' 0 % G+ )G* &&#G *ย G *,''#0G & G # )% % G $ + ) #*G &)G ')&- * &%G & G && G *+, GG &)G + )G - #&'$ %+ยชร G *' " )ย G &. - )ย G ## G &%G &- )%$ %+G +G ##G # - #*ย G - #G *& +0G &) % * + &%*G % G ', # G *' ) + G % - , #*G +&G *,''&)+G+ G')&! +ย G **,) % G + +G *, G &%+) ,+ &%*G .&,# G G,* G!, &,*#0ยช ย #*&G *' " % G +G + G & * &%ย G &%G * $G & $$ G * $ย G

$ )G & G ยง * ) . G + + G ย ** $ #0ย G ) ') * %+ % G ย ". % G &,+ G &%*+ +, % 0G & G G + G *+ + ย G % G &,% )G & G + G **& + &%ย G # G + G % + + - G & G + G ยป %, G 0&,+ *ยช G,) G+ $G+&G) $ %G & ,* G %G + )G ',)*, +ย G % G + +G + G **& + &%G *G ) % G ) +G $ ** &)*G + +G .&,# G % G+ G*& +0ยช G$ $ )G #*&G ## G&%G 0&,+ *G )&**G+ G &,%+)0G+&G * .G- &# % G % G,+ # * G + )G0&,+ ,#G*" ##*G % G +G &)G + G ~G )$ %+G & G + G &,%+)0ยช

J 6P >6

&##&. % G + G % ** %+G * *G & G # G +) @ GG " % ย G , + &%G % G - &# + &%G & G ) +*G %G + G *& +0ย G # + ,G + + G &$$ ** &% )G &)G ยด&$ %G ย G )*G % G & #G - #&'$ %+ย G &%ยชG & G% G ,),$0 %G *G /') ** G &$$ +$ %+G & G + G ) * , G $ % *+) + &%G & G &- )%&)G $&%G #&% G +&G ')&- G G &% , - G +$&*' ) G &)G .&$ %G % G # ) %G+&G &%+) ,+ G $ % % ,##0G +&G + G - #&'$ %+G& G+ G*+ + ยช G %&+ G + +G + G % *+)0G *G + )$ % G +&G ' )+% )G . + G %0G %+G % G %, % G &) % * + &%G %G ')&+ + % ย G ')&$&+ % ย G % G ') * )- % G + G ) +*G % G %+ ) *+G& G.&$ %G % G # ) %G %G+ G*& +0ยช &%ยชG ,),$0 %G *+ + G + *G . %G # G )&+ + &%G ยง +.&)"G ? ยง@ย G ยง ) G % &%G & G )*G ?ยง @G # + ,G + + G % G % $ %+G & G ) %G ) G -&#,+ &%G ')& ) $$ G ' G )G * ' ) + G &,)+ *0G ##*G %G

&*G+&G &% ) +,# + *G )G&%G )G ''& %+$ %+ยช G &$$ ** &% )G%&+ G + +G+ G$ % *+)0G *G. ## % G +&G .&)"G ** ,&,*#0G . + G %0G )&,'G & G ' &'# G +&G ~G )G + G #&+G & G .&$ %G % G+&G')&- G %G % # % G %- )&%$ %+G &)G + $G +&G &%+) ,+ G+&G+ G &%&$0G - #&'$ %+G & G # + ,G + + ยช ' " % G &%G + G ) ,#+,) #G ) -&#,+ &%*G %+)& , G 0G + G $ % $ %+G & G ) %G ) G ')& ) $$ ย G . G *G ) G +&. ) *G % ) * % G + G G% % #G ' +0G & G .&$ %ย G + G &$$ ** &% )G * G +G *G + $ G &)G ยง ) G +&G #&&"G %. ) G % G % &,) G ) ,#+,) G+&G) , G&- )G ' % %+G &%G ) #G ##& + &%ยช %. # ย G + G &&) % +&)G & G # G )&+ + &%G ยง +.&)"ย G &%0G # + ,G + + ย G $ *&)ย G * G + G % +.&)"G $ & G G ) %+G &) % * + &%G %G + G*+ + G. &G - G' ** &%G % G * ) G +&G .&)"G %G + G %+ ) *+G & G # ) %G %G + G *+ + ยช G *+) ** G + +G + ) G - G %G * *G # G - &# + &%G %G + G *+ + ย G . G ' )' +) +&)*G - G %G+ " %G+&G+ G &,)+G+&G * )- G *G + )) %+G+&G+ &* G . &G ) G &% G & G ))0 % G &,+G+ G *+ ) #0G +ยช $ # )#0ย G )$ %G & G ยง ย G # + ,G + + ย G ย , ,*+ % G ",$ย G ''# , G &- )%&)G

#&% G &)G ''& %+ % G &%ยชG ,),$0 %G +&G * )- G %G *G % +G % G ,) G )G +&G + "# G + G $ % G & G # G , + &%G % G +) @ GG " % G %G+ G*& +0ยช

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NEWSWATCH TIMES POLITICS NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

Only death penalty can curb corruption in Nigeria–Hon. Barde INSIDE

Is another formidable party in the making?

Plateau rerun: How APC took over control of state Assembly pg.12

pg. 13

FG must check growing inflation –Chairman, Master Bakers pg. 14

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

POLITICS

Only death penalty can curb Honourable Yakubu Umar Barde is the Minority Whip of the Federal House of Representatives, representing the Chikun/Kajuru Federal Constituency. In an interaction with members of the Correspondent Chapel of the Nigerian Union of Journalists, (NUJ), Kaduna State council, Barde said sincerity has been his watchword and that is why he has been elected for a fourth term in office. He contended that only death penalty can curb corruption in Nigeria. BABA NEGEDU

hat actually transpired with the missing Budget in the National Assembly?

budget was changed, you would agree with me that once it has been presented to the Senate President and to Mr. Speaker, ( This issue of budget missing or not is what the budget entails before members something that is very disturbing to the of National Assembly. conscience of members of the National Can we conclude that the budget issue Assembly and I believe this also includes is occasioned by the war between the Nigerians. The budget is a very sacred Presidency and the Senate president? document because it shows the way You see it is good to insinuate and forward and what the government wants it is also good to state facts. As far as to do. Normally as a ranking member in Iâ&#x20AC;&#x2122;m concern Iâ&#x20AC;&#x2122;m privy to have met Mr. the National Assembly, I know when Mr. President with the principal members of President presents a budget; it is kept in @ * ' the custody of the Clerk of the National the way I see Mr. President and the Senate Assembly or the various chambers, either President exchange pleasantries, for me I with the Clerk of the Senate or that of

( ( ~ the Federal House of Representatives. want to do the work theyâ&#x20AC;&#x2122;re sent there to It is there that the budget is printed and do. copies are produced for members before This government has started its war on deliberations are made on the budget. corruption. What penalty do you think is Before now, as far as I personally am enough to serve as deterrent? concern and most of us have not received Let me speak personally. Iâ&#x20AC;&#x2122;m a believer whatever will be tagged either original of the fact that people should be punished or doctored budget. Weâ&#x20AC;&#x2122;re aware that ~ `

( the budgetwas presented and weâ&#x20AC;&#x2122;re punishment should be segregated in such waiting for the photocopies to be given a way that it should be commensurable to to members. So, if youâ&#x20AC;&#x2122;re not privy to what youâ&#x20AC;&#x2122;ve done. Weâ&#x20AC;&#x2122;re living in a very what the original say and now somebody funny country where people steal N1,000 says it has been doctored. Youâ&#x20AC;&#x2122;ll now and are put in jail for years, while some @ % % people steal billions and use that same you donâ&#x20AC;&#x2122;t know what the original entails. billions to escape justice. Thatâ&#x20AC;&#x2122;s not good This is something that has over 700 pages enough. If you ask me personally, weâ&#x20AC;&#x2122;ve and if it has been doctored it means that started discussion; Iâ&#x20AC;&#x2122;ll let the cat out of the youâ&#x20AC;&#x2122;ve gone through it page by page and bag. I and some members in the National you realized that a new one that has been Assembly are of the belief that Nigeria brought in has been changed. So, I as a should have special court for corruption member of the House of Reps have not cases. Specially dedicated courts because been privy to the original copy. So if it has if you look at the quantum of corruption been changed, I canâ&#x20AC;&#x2122;t really say. The truth in the country today, we need to act. Weâ&#x20AC;&#x2122;re is that, I know the budget was presented just talking of the arms deal and look at and if in the Senate as it is being said by the quantum of money and the number of my senior colleagues in the Senate that the people that are involved. Youâ&#x20AC;&#x2122;ve not gone

Iâ&#x20AC;&#x2122;ll let the cat out of the bag. I and some members in the National Assembly are of the belief that Nigeria should have special court for corruption cases. Specially dedicated courts because if you look at the quantum of corruption in the country today, we need to act

Barde to the ministries and states yet and its only ICPC and EFCC that are t do all these jobs. If weâ&#x20AC;&#x2122;re honest to ourselves, the work is overwhelming. And you know people will like to use the legal system to delay justice and thatâ&#x20AC;&#x2122;s what is happening today. So, why donâ&#x20AC;&#x2122;t we have dedicated courts to try all these corruption cases so that justice % &% 0 ` of former governors who have cases with EFCC and have not been to courts for the past 8 years. It does not encourage the young people, it rather encourage them to steal because if you can delay justice for 10 years; I mean thatâ&#x20AC;&#x2122;s a good one because some people would have died. I know of some people that died even when their cases were still on trials. So, I think we really have to put our heads together. Corruption, hunger or poverty does not know party, tribe or religion. We must as Nigerians take a very bold stand. If you ask me, Iâ&#x20AC;&#x2122;ll tell you that if someone steals from one million to a hundred millions, the court should cut his hands, yes. There is nothing wrong. So that when we see you on the street we know that you stole, that is why your hand was cut. And those that steal in billions should be hanged. [

them. Because we know how Nigerians % X ( abject poverty, no good healthcare. You can imagine this issue of arms deal. If you knew these money were meant for procurement of arms and if you have a brother in the Nigeria Armed Force sent % weapon is archaic and heâ&#x20AC;&#x2122;s killed, would you have sympathy for somebody who

knows that these money is meant for arms 0 ` % Most of us here have lost loved ones and somebody feels this money should be diverted for something else. For me, it is something that is unimaginable. If Iâ&#x20AC;&#x2122;m a judge and such a person is brought before ` sure he is killed also because the blood of the people killed in the war front he bears a fault to it. What has the 8th National Assembly done to facilitate the war against insurgency? If Nigerians say they have not seen ` % ( been there for six months when this administration came into power, you would agree with me that even when Mr. President brought the medium term expenditure framework, we debated it and we had disagreement in many areas. Normally, the National Assembly has more members of the ruling party in the Chamber and the executive. Youâ&#x20AC;&#x2122;re not supposed to rubber stamp everything and that has not been the case here. I assure you that I and members of the National Assembly are determined. % Representatives was the one that muted the idea of having a special commission for the North-East area and it was accepted by Mr. President that we should a special commission to take care of rebuilding and ~ * Â&#x20AC;1 Nigeria. I think Nigerians should give the House of Representatives kudos for that. We know today that not only the people of North-East but most parts of this country

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

POLITICS

corruption in Nigeriaâ&#x20AC;&#x201C;Hon. Barde are in very hopeless situation. Many people left their homes and are living in camps * drinking water, no good facilities and we * ' % ( ~

oversee this commission to make sure that ~

* ~

% %

me that the issue of insurgency in Nigeria is something that has touched everyoneâ&#x20AC;&#x2122;s ( ~ * % Ă&#x201E; % % (

the other. We are in full support of Mr. X % % ~ % * ' ( ` *$ % % approved it. The House didnâ&#x20AC;&#x2122;t need to tell Nigerians it is not going to approve it % ( ( ( % *

insurgency. Youâ&#x20AC;&#x2122;ll see our actions if we

% %

% What is your take on the description of members of the National Assembly as thieves? ` Â&#x20AC; Â&#x20AC; X V % % V Â&#x201E; and we were in the plane and he said weâ&#x20AC;&#x2122;re

( ` { X * ' % % % ( % ' % ( % % *'}}

% % % ( the person that execute that is corrupt or Â&#x201E;% 0 &% couldnâ&#x20AC;&#x2122;t answer. The issue of corruption % * ' ` % ( of 360 plus 109, youâ&#x20AC;&#x2122;ll agree with me that ( ( % ` % * ' that are ready to work for this country. ` Â&#x201E; % * ' #Ă&#x2026; ` ( ( Nigerians. Now, in that situation what we try to do is to make sure that those of us that have the love of the country at heart % * ' % % (

% Â&#x201E; (

} * ' % ` %

% 0 ` * ' `

#Ă&#x2026; ` ( ( ' contracts. We know that most corruptions Â&#x192; ( } ` ` my salaries and allowances and you tell ` % ` ( % Ă&#x201E; ( % % youâ&#x20AC;&#x2122;re a minister, why should you give * '

% ( % 0 Â 0 ' you need to do is to tell them okay, this Â&#x201E; *!" """ ( implemented it the same amount. Then % % % % ( % % ( % { % Â&#x201E; % * '

} *

Barde ' ( % % ( % ( Â&#x201E;% % ( What have you done for your people that theyâ&#x20AC;&#x2122;ve returned you to the House for the fourth term? ` * ` % % asks for something from you, if you know % Â&#x201E;% % % % % } ` % the secret of my success is sincerity and

% Â

% 0 ` ( *!" ` % % ` *#" % ` ( Â&#x201E; Ă&#x201E; % [

V % % V Â&#x201E; ( % Â&#x201E; N10 or N15million annually. What was Â&#x201E;% % ` left for you to know the most important needs of his/her constituency. Then you look at the amount allocated to you and if for example the amount allocated for in a year is say N30 million, there is no % % *Ă&#x2026;" % % } % ` % my constituency, and then it means the Â&#x201E; < { Water Resources. This is how it is done. % V Â&#x201E; Ă&#x2020; % % % % % } Â&#x201E; Â&#x201E; % % % %

% ` % %

or if it is ministry of education, it is so % ` % ( Â&#x201E; Â&#x201E;% *#" million in ministry of education, they will ( % ( ( % ( Â&#x201E;

} * ' ( ` % % % end, the people will tell you theyâ&#x20AC;&#x2122;ve not felt your impacts. And what the people want Â&#x201E; } ` ( that whatever the way you want to look at it, thereâ&#x20AC;&#x2122;s need to make provisions for * ' Â&#x201E;

% *

Â&#x201E; ` % % %

( % % % and they will tell you they donâ&#x20AC;&#x2122;t know and that youâ&#x20AC;&#x2122;ve done nothing and they

have not felt your impact. But if you can

( % ( . Ă&#x2021; ` (

* ' X donâ&#x20AC;&#x2122;t care whether you move motions or * ' ( ( ( (

% Ă&#x2C6; ` % ` % there are some constituencies today that < = ( * % representing such people, what are you 0 ' % % * ' Â&#x201E; %

% % 0 } % % % % ( Â&#x201E; % that does not mean it is automatic that the % } % away from even producing any contractor % ' % * ' % ( Â&#x201E; %

it, you canâ&#x20AC;&#x2122;t even look into his eyes and say ` % } ` . Â&#x201E;% ( &% ` could look into his eyes and say this work is not up to the standard. What do you say on disagreement between Gov. El-Rufai and Senator Shehu Sani? ` ` ` % ` %

a lawmaker and the state governor, it has lots of implications. And the implications Â&#x201E;% Â&#x201E; % % ( % < = ( Â&#x201E; % ` * ' the governor to decide where some of Â&#x201E; ' * ' ( { X

( ( ` % %

( < % ` % Â&#x201E; *

Â&#x2021; % } } ` % ` % `

% %

This is what Iâ&#x20AC;&#x2122;ve seen in my years as a member in the National Assembly. People donâ&#x20AC;&#x2122;t care whether you move motions or not. There are members in the National Assembly today that have never moved motions and have been returned for 3 terms. I tell you there are some constituencies today that the Federal Government has no roads or presence there

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

POLITICS

Is another formidable party in the making? Duro Adeseko

he news did not come as a surprise to keen political observers. Political analysts also concluded that it is a normal development in the political evolution of Nigeria. A third force is needed in the political landscape because the two leading political parties were formed out of the response to the political exigencies of the time. In reality, there is no serious, ideologically based political party in Nigeria since the commencement of the fourth Republic. Last week, the news broke quietly that some leading politicians in the opposition Peoples Democratic Party (PDP) and some aggrieved politicians in the ruling All Progressives Congress (APC) are contemplating forming a new political party as alternative to two leading parties in the country. Some insinuated that former Senate President, Ken Nnamani who threw in the towel two weeks ago as stalwart of the PDP, was actually the forerunner to the formation of the third force in contemporary Nigerian politics. Nnamani, many reasoned, resigned his membership of the party to enable him concentrate on building the party that is expected to be all embracing and powerful enough to make reasonable impact in Nigerian politics. It is not clear if the party will be branded progressive or conservative. Sources close to some political big wigs said 2019 is the focus of the brains behind the plan to form a new political party. The intention is to have a credible party that can be presented to Nigerians as alternative to the PDP and APC. Those having good grasp of the political evolution of Nigeria between 1999 and today insist that the two leading political parties, APC and the PDP cannot be called political parties because one was formed to chase away the military while the other was formed to chase away political parasites that dominated the PDP with so much impunity. In plain language,

% for the purpose of winning election to control the apparatus of power. From what the public later realised, the two parties did not consider what to do with power after winning election at formation but wandered about what to do with power after winning election. The intense struggle for power and the disagreement not come as a surprise. A leading politician told this reporter: â&#x20AC;&#x153;By now we expected that political analysts in Journalism would have educated Nigerians on the true political situation in the country. Why was the implosion of the PDP inevitable? Why is there so much personal interests in the % 'X[0 Â Â&#x192; 'X[ solutions? What does history teach about political organisations formed the way the two political parties that has ruled Nigeria between 1999 and today were formed? These are questions you people should % _ When probed for further explanation he said: â&#x20AC;&#x153;You donâ&#x20AC;&#x2122;t need a specialist or active political practitioner as you call it, to tell you that neither the PDP nor the APC was formed out of conviction based on ideology. The only motive behind the formation of the two parties is greed for power. No party formed outside ideological conviction can last for a reasonably long period. Those who are deep in political engineering would tell you that the PDP and APC are stop-gap political parties to serve the purpose of

the exigencies of the time. Irreconcilable Â&#x192; % parties until the two parties a destroyed _ The political power broker took time to point out the circumstances that gave birth to the formation of the two leading political parties. The PDP was formed when the General Abdusalami Abubakar -led military government signalled its willingness to hand over power to a democratically elected government after more than 13 years of military rule. The military was tired of its continuous hold on power after 13 uninterrupted years. It also has to do with the crises that erupted after the annulment of June 12 Presidential election won by late Moshood Kashimawo Abiola. Before the death of General Sani Abacha who took over from the Interim National Government (ING) headed by Eanest Shonekan, leading politicians in the country formed a political movement known as G36. Those behind the formation of G36 were late Chief Solomom Lar, Late Abubakar Rimi, Adamu ciroma, Alex Ekweme, Jerry Gana and Sule Lamido. The politicians wrote General Abacha, the then military Head of State, asking him to draw out a programme of transition to civilian rule. Abacha was livid and some of them were incarcerated. The sudden death of Abacha gave leading politicians from all the geopolitical zones the idea of forming a broad based political party that would be so

Oyegun big that the military would not be able to ` ~ state with the sole intention of intimidating the military. Although a group such as Afenifere from the Southwest did not join the G36 to form the PDP, majority of leading politicians in Nigeria bought into the idea. Consequently, politicians with % Â&#x201E; the PDP and it became the biggest political party in the fourth Republic. It ruled for 16 uninterrupted years. The APC on the other hand is an association of politicians who for 16 years

~ regional political parties. But the giant X X % up by the various parties was not enough to dislodge PDP from power. !"## ~ team up against the PDP failed. Desperate politicians that were convinced that the nation was going in the wrong direction and were determined to wrest power from the PDP also failed. All presidential aspirants of other political parties that contested the 2011 election were prepared to step down for Muhammadu Buhari, candidate of the Congress for Political Change (CPC), but the plot also failed. One of the candidates, Professor Pat Utomi told this reporter that words could not express the disappointment of not being able to present one candidate as planned. Goodluck Jonathan who was candidate of the PDP won the election even though he is from a minority tribe in Nigeria.

You donâ&#x20AC;&#x2122;t need a specialist or an active political practitioner to tell you that neither the PDP nor the APC was formed out of conviction or ideology. The only motive behind the formation of the two parties is greed for power, and no party formed outside ideological conviction can last for a reasonably long period

That the APC was formed and registered as apolitical party was a political miracle because many were convinced that the politicians coming together were incompatible. It was an assembly of people % were those laying claim to progressive politics and there were those known to be extreme conservatives. They all professed ~ new party. When a personality like the former chairman of the National Republican Convention (NRC), Chief Tom Ikimi was frustrated out after he was denied the opportunity of contesting for the chairmanship of the party, many believed that the party was on the verge of Â { % ' } party was also frustrated out, there were fears that the party was on its way to disintegration. From the statistics that emerged after the election won by the APC, it was obvious that what gave the party the edge was the

X X * ( governors abandoned the PDP boat and joined the APC. APC leadership actually openly went round the country wooing the aggrieved PDP governors to join the party. By the time the humiliated PDP governors opted to join the APC, it became clear that things may never be the same again. Some argued that if the votes garnered by the APC from the states of the PDP governors that defected are removed from the votes of President Buhari, former President Goodluck Jonathan would have won the election convincingly. In other words, the APC won the 2015 election because of the grievances of some leaders of the PDP. APC cannot therefore be said to be a party formed on the basis of ideology. Since the two leading political parties were formed for reasons other than ideology, there are bound to be serious disagreements among leaders of the two political parties. That is what has now given birth to the quiet moves by some politicians from both the PDP and APC to form another political party. Is the coming political party going to be formed on a strong political ideology as witnessed % + % 0 Or, is it going to be another party of the aggrieved?

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

POLITICS

Plateau rerun: How APC took over control of state Assembly Gyang Bere, Jos

t is obvious that the outcome of the rerun and supplementary election conducted by the Independent National Electoral Commission (INEC) in Pankshin North and South state constituencies of Plateau State has Â&#x192; Peoples Democratic Party (PDP) in the State House of Assembly. * units in the two constituencies was as a % ' [ % % constituencies. The Polls was said to have held under peaceful atmosphere, devoid % % to have been without minor skirmishes as important stakeholders in the election ( % Â&#x192;% the constituencies were allowed in to the election venue by the security operatives. However, the PDP which constitutes the majority members of the State House of Assembly after the 11 April, 2015 State Assembly election with 13 members ## % ' X ( [ \'X[] (

'X[ % Â&#x201E; in the House. ` ' X ( [ \'X[] Mr. Gideon Dashe displaced former Speaker of the House Assembly, Hon. ` % [ { % % and supplementary election for Pankshin South State Assembly constituency. } ' APC also validate her victory at the rerun

X * X [ % ~

` under the platform of PDP and claimed he % % ' ## !"#$ However, it would be recalled that ' [ % ~ Â&#x2C6; Â&#x201E;% ' ## !"#$ % of Assembly election, ordered INEC to % * unit of Fier ward in Pankshin North and X % [ Pankshin South respectively to determine the winners. The elections which took place on the !" < % + % V@ for Pankshin South, Dr Chris Vande of ( Â&#x2C6; % [ 1 Â stressed that Mr. Gideon Dashed of APC Ă&#x2030; Ă&#x2030;Ă&#x160;$ ( ` % Mwansat of the PDP who polled 9, 875 votes. He stressed that â&#x20AC;&#x153;Pharmacy Gideon 'X[ ( % ( ( electoral law, is hereby return elected, â&#x20AC;&#x2122;â&#x20AC;&#x2122; Vande declared. In the same vein, the + % V@ X * % Â&#x2C6; = ( Â&#x2C6; % result at the council chamber, said Alice 'X[ #Ă&#x2039; Ă&#x2C6;!" ( X X X polled 16, 817 votes. / ` Â&#x2C6; =

Lalong % @ { ' 'X[ ( % ( ( % elected, â&#x20AC;&#x2122;â&#x20AC;&#x2122; he declared. However, the by X % [

% % ( ~ just when the result was to be announced `*1[ @ It took the combined team of security operatives to control the party loyalists,

% % be announced, as some insisted that it has to be taken to the council secretariat to be announced, some said it must be announced at the ward level. It took the declaration by the State Resident Electoral Commissioner (REC), { = Â&#x2021; ( calmed and the result was announced almost at dawn. However, with this result, APC was said to have clinched the two Houses of Assembly seats in Pankshin Local Government, Pankshin North and South Constituencies. Meanwhile, the rerun and

supplementary elections could not hold

} % % Peoples Democratic Party (PDP) went to court to obtain an injunction that restrained Independent National Electoral [ \`*1[] % polls, because their party was excluded. The party, had in a press statement % X Shyepsuk said PDP is not pleased with undemocratic decision of INEC and s that they deserve an opportunity to represent a candidate for the rerun election. The statement which red in parts, said / ~ [ X Democratic Party (PDP) Plateau State has been drown to the released time table Â&#x20AC; % } % } % % 20th February, 2026 in which the Peoples Democratic Party is excluded. â&#x20AC;&#x153;The party faithfuls, especially those

} % (

outcome of the caseâ&#x20AC;? the statement reads. } } V }

With the outcome of the rerun election, APC now has 13 members in the House while PDP has 10. The two contending parties are awaiting the judgement of the Federal High Court, which restrained INEC from conducting elections in Langtang South

of the Party, Michael Dachom, had earlier described INECâ&#x20AC;&#x2122;s exclusion of his party in the election as unacceptable and a % Â&#x201E;% % Â&#x2C6; % ( % INEC not to involve PDP from the lists of } % ' % Â&#x201E;% authorise the electoral body to do so. % % ( %

&% % Â&#x20AC; % have done was to ask the party to submit another name for his replacement and not to bar the party completely He expressed the worry that the exercise,

% % % % Â&#x201E;%

delivered in favour of parties that had % % % many states. { &% `*1[ Â&#x2C6; * ' X ( [ 'X[ + 1 % (MPPP) while Vincent Venman Bulus of the PDP has been excluded. + ( % the rerun election, former Speaker of the House and candidate of the Peoples Democratic Party (PDP), Hon. Istifanus Caleb Mwansat said the election was % 'X[ = ( V@ % % %

X X members access to the election venue. Meanwhile, Deputy Governor, Sonni Tyoden who was at the election venue Â&#x201E;%

( of violence and applauded the constituents % ( manner. However, before now the political X X ( X X Q% } % % while the election petition tribunal was yet ( Â&#x201E;%

( who claimed the polls was full of

% The Independent National Electoral Commission (INEC) conducted election in the constituency within 90 days and the ' X ( [ \'X[] % the mandate of the people, thereby % X X in the State Assembly, where each of the Â&#x201E;

#! But with the outcome of the rerun election, APC now have 13 members in the House while PDP has 10 members.

Â&#x201E;% < [ % `*1[ % } % Meanwhile, the election has come and % ( opportunity for those who claimed were

% '

(

avail chance for those whose victory were &% @ % supplementary polls. That has been determined by the

( % 'X[ % Â&#x201E; } Assembly.

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

INTERVIEW FG must check growing inflation â&#x20AC;&#x201C;Chairman, Master Bakers Alhaji Lateef Ilesanmi Madandola is the Oyo State Chairman of the Master Bakers Association. He has a soft spot for the Muhammadu Buhari-led administration Olusakin Babalola, and he commended Governor Abiola AjiIbadan mobi for transforming Oyo State, for the change mantra of the present government. He, however, pleaded with the government to address the growing inflation in the country, which is adversely affecting baking business. He said other aspects of the economy are also been affected by inflation. Modandola said with emphasis, during the interview in Ibadan, that the price of bread would go down as soon as the prices of flour and other ingredients were reduced. He spoke with OLUSAKIN BABALOLA last week. Excerpts:

ongratulations on the success of your meeting, meeting of Master Bakers Association. Since the governments have been assisting your association, why then the need for the last strike you embarked upon because of prices of ! " ! # $ baking bread? Thank you. The past administration was not forthcoming in its promise made some years ago to assist the association of Master Bakers. Promises made for us % % % W Â&#x192; % ingredients being used to bake bread. Are you alleging that no form of assistance was ever given to you by the last government? I will say yes and no. Yes because some years ago, the former federal government promised to select four members each from our association from the 36 states in Nigeria. If you look at this number, you will discover that this number is too small from each state. Even then, nothing was done at the end of the day. It was like the normal promise of politicians. We waited for over one and a half year and when nothing was forth-coming, we forget their promise. What are your expectations from this government of president Muhammadu Buhari? Before I present the request of our % * in the government of the country. It is

noteworthy that Nigerians have been

came. Now that the change has come with a purposeful government put in ~ and the dividends of democracy should spread to all of us as well. % & '& (() ) * # # from the Federal Government? This is a government that has human face. The most important thing to our association is how the prices of wheat Â&#x192; %

used in the baking of bread should come down. The former government promised to assist us by building ovens, generators at subsidized prices and provide working facilities for us for baking bread without tears. We were also assured of being provided with other equipments at reduced prices. We plead with this government to give all these to us. The government can also grant us bank loan with minimal interest. All these will endear us to the present governments. How can this be worked out by your Association? We have divided our members into groups. For example, in the Southwest we have seven Chairmen. There are chairmen in Kwara, Ogun, Lagos, Ondo, Osun and Ekiti States. Our agreement is that any assistance given to us or loan granted to us, will be repaid to the government. Our leaders at the National level are still working on this and we believe that our hope will ~ Â

Buhari alone cannot do it. He needs the cooperation of all and sundry to make him succeed. We also need his help to impact our lives positively. He should keep corrupt people away from his government in order to retain the trust and hope, which the masses have in him

Ilesanmi

The consensus is that this is the government that has good promises, or would I say, a good package for Nigerians. Thank God Buhari started well and we will all co-operate with him in his crusade against corruption and insecurity

gift but loans or any form of assistance which would be paid back. What is the disposition of your association to the present government both at the state and federal levels? ` % is not political. It has always been our tradition to fully support those in government at the state and federal level. In what ways? The consensus is that this is the government that has good promises or would I say ,a good package for Nigerians. Thank God Buhari started well and we will all co-operate with him in his crusade against corruption and insecurity. What about your governor in Oyo State? I am personally proud to be associated with the government of Senator Isiaq Abiola Ajimobi. His achievement speaks for themselves. He has constructed many roads and has equally repaired many in all the nooks and crannies of Oyo State. For example, in my areas which include Monatan where my property is, the roads there have been given a face lift. The same applies to other parts of the state. Ajimobi also did well by sustaining peace and security in the state. We will continue to support

him. But there are heaps of refuse here and there in the city costing the government millions of Naira to evacuate. Is that what you call support? We have warned all our members not to be parties to this act of sabotage. My advice to members of the public is that families should patronise refuse collectors and avoid dropping refuse on the roads or water ways. You have been commending the government for doing well, does that imply that members of your association and people of your kind are contented with government is doing? * % like I said earlier We still need more assistance from the governments both at the state and the federal levels. We are praying consistently that all forces ~ country under President Buhari will be subdued. Buhari alone cannot do it. He needs the co-operation of all and sundry to make him succeed. We also need his help to impact our lives positively. He should keep corrupt people away from his government in order to retain the trust and hope which the masses have in him.

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*)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 @ HH H ? @H $H * H %@ HH 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 ( *%(HFH $ ( "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!$%-HFH %-H )H- ""H )H , "%& $ H* H( *H ~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»+ ( ;H H #%)*H ( * "H $ " (H $H * H ~H $# $*H % H H C $ ÂH )% %H FH %$%#/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

6 6 6

'+ )* %$H* *H )H (# $ H*%H* H (%-* H % H %+(H )/)* #H $ H ) %+" H H * !" H %(H * H $ * %$H *%H $ H $ H #%, H *%H * H$ .*H" , ";HH 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 $H %@ HH H ("/H "%$ 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

* %$)H @ HH H %$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)* HH , "%&# $*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

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+ + +

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~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 $%* H * *<H C H H " * * )H ""F(%+$ 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$%*H H$ " * Â; C )H & (*H % H * H $ H %(H -%# $H , "%&# $*H $H 3127<H * H %## )) %$H - ""H # (!H * H $* ($ * %$ "H %# $B)H /H- * H * , * )H* *H- ""H "&H $)& ( <H $ H " ( * H -%# $H % H * H (H "* H %$H $ H * (H $ ,%+()Â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~H" H (%&)H /H (% ))%(H ( # ;H )H ( # H - H * ! )H H "%%!H *H * H

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+ ++ 6

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NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

Sunday Business Devaluation: The way not to go?

Buhari

The continued fluctuation in the price of the domestic currency when compared with the value of some major currencies has become a source of worry to operators of both major and small businesses alike. Reasons being that cost of doing business has since taken upward trajectory. In this discourse, FRIDAY EKEOBA examines the clamour for the devaluation of the Naira vis-a-vis benefits in the balance of trade between Nigeria and its partners. n x-ray of the domestic economy business environment shows a high number of foreigners engaged in both the Real and Service sector of the Nigerian market. From the Chinese, Indians, Americans and even nationalities from Europe, and with the list being endless, shows the homogeny of the Nigerian economy. This is at a time when the Naira exchange rate value is declining against other major currencies. The continued fall in the price of crude oil in the international market coupled with the dearth of infrastructure and a pocket of insecurity in the northern part of the country has no doubt further put the country at the receiving end. ( Â&#x192;% ( % with some African countries not left out, aside speaks volumes, explains that with the

% % % place coupled with encouragement given to local investors, in the areas of infrastructures development, the Nigerian economy will be ~ Calls for devaluation A proper understanding of depreciation and devaluation being two economic events that deals with the value of oneâ&#x20AC;&#x2122;s currency is germane. Both of these situations cause the value of a countryâ&#x20AC;&#x2122;s currency to drop versus the rest of the world. However, they have

% Â&#x20AC; on countryâ&#x20AC;&#x2122;s economy. Understanding the

( ~ Ă&#x152; % % % @ ( %

% @ The value drop in the naira as a means of exchange to especially the dollar and the Euro, two major international currencies, has brought about disequilibrium in the manner Nigeria goods and services are exchanged with other countries product and services. The variation in the value of the domestic

% ( % every business concerns from the public to

the private. It is now a common â&#x20AC;&#x2DC;wordâ&#x20AC;&#x2122; now, to hear the road side food vendors saying the reduction in the quantity of food served is owned to the exchange rate. A known link exist between oil price external reserves and exchange rate for oil exporting countries that relies on over 80 per cent of her annual revenue crude oil sales. The link is such that an oil dependent economy relies on a robust foreign reserve to pay for her import demands. During periods of high and sustained crude oil price, the domestic currency tends to appreciate in value because of sustained

Exchange rates as at 3/2/2016 Currency

Buying (NGN)

Central (NGN) Selling (NGN)

US DOLLAR

196

196.5

POUNDS STERLING

274.4392

275.1393

275.8394

EURO

212.758

213.3008

213.8435

SWISS FRANC

196.1962

196.6967

197.1972

YEN

1.7137

1.7181

1.7225

CFA

0.3057

0.3157

0.3257

WAUA

270.208

270.8973

271.5866

YUAN/RENMINBI

29.9164

29.9931

30.0699

RIYAL

52.2388

52.3721

52.5053

SDR

270.5388

271.229

271.9191

PERSONAL FINANCE

The greatest & strangest money making secrets Pg 27

197

â&#x20AC;&#x2DC; BUSINESS INTERVIEW

Â&#x192; < `

When oil price is declining, the revenue from crude oil sales falls exerting pressures on

( % Â&#x192;% % in exchange rate and a resultant rise in capital Â&#x192; The currency and stock markets have been hard hit by the persistent fall in the price of crude oil, which is the countryâ&#x20AC;&#x2122;s main export commodity, triggering a fall in government revenues and the exit of foreign investors from the Nigerian stock market. The poor showing of the Naira had led to discontent turns among members of the Organised Private Sector (OPS) as to the fact that ( % ~ devalue its currency, even as other school of thought argued that devaluation is not the best way to go. To be or not to be Before now, when it was speculated that the naira should be devalued, against the dollar and other major foreign currencies, the intervention by the Central Bank of Nigeria (CBN) merely lent credence to what some public commentators felt was long overdue. Â [ * = ( = 1 announced in Abuja the devaluation of the naira, the increase of the Monetary Policy Rate (MPR) by 100 basis point from

Continued on Page 22

xx NEWS BUSINESS

â&#x20AC;&#x2DC;Govtâ&#x20AC;&#x2122;s policy support Govt blames drop in power generation on gas of Nigerian coys â&#x20AC;&#x2122;ll pipeline vandalism Pg.23 improve growthâ&#x20AC;&#x2122; Pg. 24

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

BUSINESS COVER Continued from page 21 12 per cent to 13 per cent, the adjustment of the Cash Reserve Ratio (CRR) for Private Sector Deposits and the gamut of the other pronouncements, are bound to ( ( micro and macro dimensions. % {X+ % % % have risen, as a direct consequence ( counterproductive, and against the thrust of the governmentâ&#x20AC;&#x2122;s % Â&#x201E;

increased interest rate and job creation. When devaluation takes places ( % may not have the appropriate % % *

( % (

% &% ( % % % %

% ' the direct consequence of the raise

% % ( ` % ( counterproductive, and against the thrust of the governmentâ&#x20AC;&#x2122;s touted Â&#x201E; expectation that the governmentâ&#x20AC;&#x2122;s ( % ( % %

% % point must be made that this

% ( Ă? % % ` ( %

( % % % % serve as an incentive and a toast for

% ` earn foreign exchange, increase % Â&#x201E; % * `{< ( [ * ( % * [ *

( % Â&#x201E;% @ *#Ă&#x2030;Ă&#x2030;Ă&#x152; Â&#x20AC; determined exchange rate, the ` { <% said. that of President Muhammadu % * % ( % % ' } Â&#x20AC;= [ * [

1 ' % ( ( % % % % %

% ( % currency. % Â Â&#x20AC; monetary fund said in a statement Â *

( % /*

( % ( Â&#x20AC; &% % on ensuring the competitiveness of the economy. /'

% Â&#x192; more and restrictions on access to

Devaluation: The way not to go?

( improving the functioning of the

/` % % ( %

support private sector investment across production segments \ % }{1 ] _ `{< !"#Ă&#x17D; ' `Â&#x2020; { * ` Â&#x2020; X V Â&#x201E; Ă&#x201E; { < { Â&#x2021; ' % Ă&#x201E; { % X } Ă&#x201E; = ( [ * { = 1 ' %

exchange restrictions introduced [ * ( (

of the private sector that depend &% %

currencies. /Â % ( (

% %

% ( ( The draft 2016 budget envisaged, (

' [ * _ `{< / macroeconomic adjustment that is needed to address the permanent Â&#x20AC; Â&#x20AC;

% . \ ] Ă&#x201E; \

] % Ă&#x201E; \

] % ( @

Ă&#x201E; \ (] % % ( % ( _ Expertsâ&#x20AC;&#x2122; reaction ' 1 { V % % 1W% [ * % % Â&#x20AC; reaching. / * import dependent, if the naira is the impact is going to be on the goods being imported. /` &% %

% Â&#x192; % % Â

W % `

( [ * % _ ' Â&#x192;% % * X }

1 V V Â&#x201E; ( ' Â&#x20AC;` V % }

shortage of foreign exchange as a % ( % /Â [ * % reducing the pressure on the naira % % % [ *

% { < % reduce importation and ensure that (

When oil price is declining, the revenue from crude oil sales falls and exert pressures on the foreign reserves. The '()*+/ 2) 4*5/*6/278 28 (95:68;( '6/( 68< 6 '()*+/68/ '2)( 28 56=2/6+ 42;:/

% /{ % % being made by government

[ * ' %

**X[ < = ( ' % % Â&#x192; % Â&#x192;

[ * _ He said the depreciation of the of production in the manufacturing

% % % prices of goods, adding that â&#x20AC;&#x153;cost of % % if the naira deteriorates further. 1( % ( %

( % %

_ Â&#x20AC;= Chamber of Commerce and ` % { {% % % %

% outside the country, servicing foreign debts and going for ( % @ % period. â&#x20AC;&#x153;The depreciation of the currency

%~ % % on the cost of production and ( % &% (

` %

margins and some companies may W Â

Â&#x192; _ said. ' 1 + stated, â&#x20AC;&#x153;Tightening the conditions

( % Ă&#x201E; %

#Ă&#x2030;" #Ă&#x2030;$ Â&#x20AC; !"#Ă&#x2026; /Â [ * % intends to achieve this objective, (

% ( } Q1 ``` V /V( % ( &% [ * % % ~ ' %

[ *

% ( < _ +

( % / _ % [ * nothing from history. He said ( % ( ( !" % % @ rate. ( % % as importers add the increase to the cost of goods and services. He

% % * = %

( % !" ` ( said that mopping up the naira to

( [ * % % % ' % ( % _ { ' { = + + W Khan expressed surprises over the MPC meeting. } . /' % forecast some CRR tightening, and + % '% } \+ '}] ( % ( [ * {X[

_ < [ * % % (

needed to sustain current foreign

( @ ( % + '} (

/Â + '} ( Â&#x20AC; % ( * Â * % Â&#x192;% price, the combination of measures \ ] % [ * ( _ she said. Chief Economist at Renaissance [ \+ [ ] [ Robertson, said the combination ( % Ă? % &% ( [++ [ * % % % ( [ *

% ( [ * < ( % Ă&#x2039; months of import cover. V !"#$ % {X[ % Ă?Ă&#x2039;Ă&#x2C6;Ă&#x152; price environment gives Treasury % ( % subsidy. He said the MPC is ( % Â&#x192; %

Â&#x192; % ( in recent months. The naira is under further % \ !Ă&#x2C6; Â&#x2C6;% ] % ( }

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

BUSINESS NEWS

Govt blames drop in power generation on gas pipeline vandalism with the service providers and security agencies to ensure security of electrical installations. he Federal Government Speaking at the signing of has blamed incidences of Memorandum of Understanding gas pipelines vandalism with the Consumer Protection for the major drop in Council (CPC during the week, power supply through the Akah lamented the increasing national grid from over 5,000 spate of vandalism of electrical ~ ! Ă&#x160;"" installation, electricity theft and ~ other unwholesome acts by The Acting Chief Executive electricity consumers. V@ * 1 He, however, said that the Regulatory Commission (NERC), Commission would soon Dr. Anthony Akah, solicited the compel electricity distribution support of members of the public companies to publish their meter and the council to collaborate deployment schedules so as to FRIDAY EKEOBA

ensure adherence to the meter roll out plan contained in the performance agreement signed with government by the utility He noted that such publication will make unmetered customers to be aware of the estimated period they have to wait before they can be metered.

Akah said that the commission has issued a non-tolerance statement on wrongful estimated bills, compelling customers to buy, install and repair transformers, poles, unsafe electrical connections and other unsafe practices by the electricity distribution companies. He assured that the commission

~ the strict compliance of NERCâ&#x20AC;&#x2122;s regulations by operators in the sector. According to him, the collaboration between NERC and [X[ aimed at reducing the incidence of estimated billing and eliminate them completely.

Oxford Business Forum Africa focuses on â&#x20AC;&#x2DC;Unreasonable Africaâ&#x20AC;&#x2122;

ith a burgeoning y o u t h population, stabilising political landscape, and an abundance of natural resources, Africa is often hailed as the next global economic powerhouse. To this end, the Oxford Business Forum Africa will explore the reality of business in Africa and the true opportunities and challenges to starting, consolidating, and scaling businesses there. By learning directly from leading business people working in Africa, the Forum focuses on understanding the interconnected nature of business, the diversity of markets and consumers in African countries and the innovative approaches business adopt to maximise their impact.

The theme â&#x20AC;&#x2DC;Unreasonable Africaâ&#x20AC;&#x2122; celebrates individuals % and opportunities beyond the expected, who are challenging the status quo, and whose bold visions and decisions have led to exceptional successes. Key sessions of the Forum will be live streamed and people all over the world can participate in the discussions % ~ &% ~ Hosted jointly by SaĂŻd Business School, Oxford University, and the Oxford Business Network for Africa, led by current Oxford MBA students, the Forum will convene over 30 speakers from pioneering start-ups, % and corporate companies, NGOs, and government.

Industry leaders to explore ChinaOIC joint investment opportunities at groundbreaking forum

hinaâ&#x20AC;&#x2122;s meteoric economic rise and the burgeoning ascendancy of OIC nations in the international landscape are altering global economic power dynamics, and players from both markets are eager to tap the lucrative opportunities arising from stronger bilateral ties. With a more inclusive foreign policy, including a renewed stance on the Middle East and Africa, Chinese president Xi Jinping has set the motion for greater ChinaOIC relations â&#x20AC;&#x201C; with the â&#x20AC;&#x2DC;One Belt, One Roadâ&#x20AC;&#x2122; initiative a central pillar to Chinaâ&#x20AC;&#x2122;s grand strategy. Yet, questions remain including: what are the considerations for market players from both sides of the ( W Â&#x192; of opportunities and how can these linkages be created? In light of this development, the Islamic Corporation

for the Development of the Private Sector (ICD) private sector arm of Islamic Development Bank Group \` ] time ever, a groundbreaking event to connect investors and regulators from Asia, Africa and the Gulf with senior decision-makers of the worldâ&#x20AC;&#x2122;s second-largest economy. To be held at the Westin Beijing Financial Street Hotel in Beijing on the 22nd March 2016, and with senior-level participation from stateowned funds such as the Silk Road Fund and the China Africa Development Fund, the pioneering China OIC Forum is expected to gather over 300 senior regulators, multilateral institutions and market players with the aim of enhancing partnerships between key industry players and multilateral bodies as well as identify joint investment opportunities.

L-R: Wife of Lagos State Governor, Mrs. Bolanle Ambode (2nd left); All Progressives Congress (APC) Southwest Women Leader, Chief (Mrs.) Kemi Nelson; Representative of Lagos State Governor & Deputy Speaker of Lagos State House of Assembly, Hon. Wasiu Sanni Eshilokun; Commissioner for Women Affairs & Poverty Alleviation, Mrs. Lola Akande; Special Representative of the United Nations Secretary General on Violence Against Children, Marta Santos Pais and Country Representative, UNICEF, Jean Gough, during the book launch â&#x20AC;&#x201C; Lagos State Response Plan of Action to End violence Against Children, at the Federal Palace Hotel, Victoria Island, Lagosâ&#x20AC;Śrecently.

Intercellular Nigeria chooses Huawei for rapid network transformation to LTE Broadband

uawei held a signing ceremony with Intercellular N i g e r i a at this yearâ&#x20AC;&#x2122;s Mobile World Congress, where Intercellular CEO Mr Emad Sukker announced a joint LTE 4G transformation of the CDMA network. With this alliance, Huawei Ă&#x160;""{ 1 network to meet the strategic and service demands of the Nigerian market. As a major CDMA operator in Nigeria, Intercellular adopts the most advanced communications technologies to provide the Nigerian people with higher network quality. Mr Sukker explained how Intercellular chose its strategic alliance. â&#x20AC;&#x153;Huawei is both the worldâ&#x20AC;&#x2122;s leading supplier of LTE devices and also the most trustworthy partner. This LTE collaboration will help Intercellular accelerate our LTE transformation and give % ~ network services.â&#x20AC;? Mr An Jian, President of Huawei Global Wireless Networks Marketing and Solutions, said, â&#x20AC;&#x153;As a leading global ICT solutions provider, Huawei is always

XXXXX

~ % ~ Because customers are our priority, we propose network construction principles centered on user experience. At the same time, Huawei

~ % cooperation with operators @

investments and build a speedy, simple, and smart network that achieves the best E2E network experience. Huaweiâ&#x20AC;&#x2122;s products and services now serve over 170 countries and regions worldwide, with nearly a third of the worldâ&#x20AC;&#x2122;s population using the network services we provide.â&#x20AC;? Mr Feng Weixiong spoke of Huaweiâ&#x20AC;&#x2122;s presence in Nigeria. â&#x20AC;&#x153;We aim to provide the most competitive network services and actively promote LTE to keep up with the increasing standard of communication demanded by the Nigerian people. Huawei has always been the preferred partner of Nigerian operators. We have carried out largescale deployment of 20 000 base stations, witnessed the increase in the Nigerian mobile user base from 27 000 to 117 million, and contributed to an explosion

in mobile penetration rate " "!Ă&#x201C; Ă&#x160;Ă&#x2C6; Ă&#x2039;Ă&#x201C; Â work hand-in-hand with operators to promote the rapid development of the Nigerian telecommunications market. As users demand a ROADS experience and global telecommunications undergoes digital transformation, LTE in Nigeria is the next step in accelerated market development where Huawei will be the strategic partner of choice.â&#x20AC;? The cooperation between Huawei and Intercellular will further promote LTE development in the Nigerian market with construction of an experience-centric LTE network to provide the best online experience for Nigerian users. Intercellular

from faster commercial LTE broadband development and transformation, according to Huawei. So far, Huawei has helped deploy over 200 LTE networks covering every continent in the world. The global telecommunications leader serves more than 140 capital cities and nine major

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

BUSINESS INTERVIEW

lobal competitiveness This is a situation I believe that we all should be conversant with because if you start the process of manufacturing, some of those things, the expenses you are incuring, the environment where you manufacture are the factors % % % So when you manufacture in Nigeria, you are already 40 per cent disadvantaged because- unlike when somebody is manufacturing in Asia or in Europe where you donâ&#x20AC;&#x2122;t have to bother about power, you donâ&#x20AC;&#x2122;t have to bother about water, about road to move your goods and all of that- here you % V course, they have economy of scale which has to do with large scale manufacturing; they are ~ major stakeholders from donor

} ( % % economy of scale which also break down the cost per unit for their % V % % aware that about 80-99 per cent of inputs into pharmaceuticals from ( * So where you have to manufacture with ingredients or outputs from Europe, and you have to compete with the same company who is ( %

% %

@ % Â are doing, in terms of quality, we ( ' % X [ is why we want the facility to be the best you can get in any part of } &% ` ' that is why we talk about patronage because if you build capacity, you must have market where you are % % ' increase the level of our capacity, And then, we are hoping that the good job that is being done by the current administration especially as regards power is sustained, the cost of power will come down, we spend on the average over N20million every month to ( Â % public grid to provide power to % } % Contribution to economic growth The company was founded on September 4, 1944 as Nigeriaâ&#x20AC;&#x2122;s % and began local manufacture of #Ă&#x2030;Ă&#x2039;Ă&#x17D; ` !""! company became 100 per cent owned by Nigerians following the ( %

The company began an expansion ( 2005 which gave rise to the creation % %

In 2005, Biovaccines, a local vaccine production subsidiary, was set up in partnership with < = ( ` !""Ă&#x17D; we constructed a multi-billion naira food processing factory, while in 2008, we commenced % Â V W } Pharmaceutical production facility which was completed and Â&#x2C6;% !Ă&#x2039; !"## Â

( Â therefore commenced the process our manufacturing plant for Good Manufacturing Practice \={X] Â V W \Â V] United States Food and Drugs ' \ }< '] Â

Govtâ&#x20AC;&#x2122;s policy support of Nigerian coys â&#x20AC;&#x2122;ll improve growth â&#x20AC;&#x201C; Okafor, MD, May & Baker In a media parley in Lagos recently, the Managing Director of May & Baker (M&B) Nigeria Plc, Mr. Nnamdi Okafor, bared his mind on why Nigerian manufacturers want domestic preference jacked up from its current level of 15 per cent; and the efforts being made by his company to help contain the spread of Ebola and other sundry issues. He also enumerated challenges before manufacturers in the country. FRIDAY EKEOBA brings Excerpt:

Okafor

Â V ={X Â&#x20AC;&% % % and hopefully with these, the gate into global pharmaceutical market % Following these huge capital

investments on capacity acquisition and expansion, our company has, in the past four years, been undergoing some restructuring and Â&#x20AC; ( the expected short term negative impact of these investments on the

The Indians, the Chinese, at some point in their development, had to protect their local manufacturers so that they can build capacity

business, while waiting to begin to derive expected big returns on ( [ &% the management has begun the process of consolidating all Pharma manufacturing operations by transferring substantial product lines from Ikeja to the % V the M&B Pharmacentre, which % Ă&#x2026; $ Ă&#x2C6;Ă&#x2039; $ ~ Ă&#x17D;" &% % derive the advantage of economy W Â are pleased that, in recent years, the Federal Government through the Federal Ministry of Health and the National Agency for Food and Drug Administration and Control (NAFDAC) has made some

% % % % However, much more still need to be done in the areas of patronage, protection through restriction of unbridled massive importation of basic essential medicines and promoting private sector capacity building and technology development in critical areas like ( % Domestic preference V % sense of local content policy, it is ( % % Â ( to do is to give us what we call domestic preference for those of us who are manufacturing locally because we know that we have to get our materials from outside * ' @ % % the same people who gave us their % % ' % that we cannot develop capacity if we are not protected because there is no country in the world that just % % Indians, the Chinese, at some point in their development, they had to protect their local manufacturers % Â are asking the Federal Government to give us some level of preference ( ' paper, there is 15 per cent domestic preference when you are bidding for contracts and when you want to compete with pharmaceutical

( } is what we have and we are happy Â #$ increased because we feel it was %@

( stage for the fact that, at onset, you

are 40 per cent disadvantaged and we found out that you donâ&#x20AC;&#x2122;t make } you are struggling with for these contracts are ready to even sell at discount, but they want to get you % V ( yes, the 15 per cent is good, but it should be increased because that

( % ' government must ensure that it applies to all the corporate tenders because if the law says that if it is not put it in publication or advert in newspaper, you can not apply , then we are saying it must apply ` when the foreign companies bring their money ,they are not bound to

( Counterfeiters Â % % ~ Â collaborate with our customers to ensure that they work with us ( %

Â % 0 the last couple of years, we have not Â with regulatory agencies to stamp % had was that of a company that was trying to copy our designs because they felt that our brands } they wanted to ride on the back of the brands to push their products However, some of the fakers retraced their steps when the %

But it still remains one that we are Accessing foreign market ' W shouldnâ&#x20AC;&#x2122;t do what a 10-year old or #Ă&#x17D;Â&#x20AC; % X ' now in our company, we have world class facility that no company * ( Â&#x20AC; % Â % Â some foreign companies to see if they have capacity to enable us acquire technology from these companies manufacturing drugs which Nigeria depends on their

V % % aware that to develop technology

Â % own, are doing our best and I am proud to say that the products % Â ' ( V % there are products that are in very ( ( Â

% Â

( time we develop these products, we should be able to move them outside Nigeria because you cannot move paracetamol or basic generic % % % the time we are able to have some W % global standards, we will be able to ' ={X is concerned, I think we have ( ( have not announced was that we ( ( % Â V % } % % ' you have to go through certain inspections before they could pass % } ( % those inspections and we are just ' ` is that we are very much advanced and we are hopeful that soon, the % %

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

MONEY/CAPITAL MARKET Investor confidence rises as Diamond Bank unveils investment opportunities in Nigeria Stories by Friday Ekeoba

espite the inclement business environment and the wind of investment phobia that is blowing harshly over the economy following the slump in the price of crude oil and the value of the Naira, Diamond Bank has unearthed viable investment windows that would ( shore up asset value and return on investment. These were made known recently in Lagos at the bankâ&#x20AC;&#x2122;s Diamond Privilege seminar with the theme: â&#x20AC;&#x2DC;Investing in 2016, riding the storm, unearthing the opportunities.â&#x20AC;&#x2122; ~ top investors, industry captains, entrepreneurs and policymakers among others. Diamond Bankâ&#x20AC;&#x2122;s Chief Executive V@ W W

of welcome, noted that although the investment environment has remained volatile, there was hope as one of the bankâ&#x20AC;&#x2122;s strategic focus is the commitment to help investors navigate to other sectors that would yield optimum return on investment. According to him, Diamond Privilege, the Bankâ&#x20AC;&#x2122;s Wealth { % knowledgeable, experienced and dedicated personnel that are ready to work with clients, guiding them appropriately to identify and leverage market opportunities. â&#x20AC;&#x153;We are driven by the clear need to address issues around current market volatility while highlighting the tremendous opportunities that % (

investors,â&#x20AC;? he said. The chief speaker, Bode Agusto, founder of Agusto & Co. and former

Â&#x20AC;= % V@ the Federation and the discussion panelists, led by Aishah Ahmad, Head of Consumer Banking at the Bank, agreed that investment opportunities abound in real estate, education, health and agricultural sectors of the economy. They also pointed the huge investment opportunities in companies that are non-import dependent, critical sectors of the economy like electricity energy and FGN bonds especially as the borrowing level of the government to fund the budget is expected to rise. In his keynote speech, Agusto noted that the key prices in every economy include interest rates,

Â&#x192;

% Nigeria, the â&#x20AC;&#x153;the price of crude oil.â&#x20AC;? He further explained that the fundamentals that drive exchange Â&#x20AC; Â&#x192; (

Â&#x192; extent to which external reserves % % % } spending. /[% Â&#x192; trade is negative, so is net capital Â&#x192; Ă&#x201E; ( } constrained,â&#x20AC;? Agusto said. He believed that it is going to be ( @ % % @ government will try to maintain % @ as possible but may allow private sector suppliers of FX to do business ( acknowledged that, if we freed the markets, the macroeconomic fundamentals can support an exchange rate much lower than the current rates prevailing in the parallel market.

GTBank successfully upgrades to the latest version of ICS banks

uaranty Trust Bank (GTBank), has successfully upgraded to the latest version of the awards winning solution `[} '*Â&#x2021;} `[} < } \`[}<}] global software and services ( institutions. With this step, GTBank has gone through one of the most successful and seamless major upgrades in the industry, completed at GTBankâ&#x20AC;&#x2122;s headquarters that is located in Nigeria, where it upgraded to the ( `[} '*Â&#x2021;} project started on June of 2015 and ended in October of 2015, where the migration had nearW Â&#x20AC; High level of performance was

( `[} '*Â&#x2021;} a new record of the entire endof-day activities for 250 branches serving around 8M customers & 13M accounts & 4M daily transactions are being completed in a record time. { + W % { `[<} Ă&#x201E; /`[}<}

~ to provide the bespoke state Â&#x20AC; Â&#x20AC; % ( V% `[} '*Â&#x2021;} % delivering complete suite of banking business solutions, allowing GTBank to quickly

put in use the features they need within minimal time, risk,

cost. The immaculate upgrade that was achieved, best serves our reputation in providing professional services and high standards of support to our clients. I would like to congratulate GTBank on this outstanding achievement, and thank the bank for trusting us and for being a long-term partner.â&#x20AC;? Executive Director for Business ( `[}<}Ă&#x201E; { Â { Ă&#x201E; â&#x20AC;&#x153;GTBank has always been one %

embark the latest technologies we ( Â %

successful achievement would have not happened especially in this outstanding short period of time. The migration of our awards `[} '*Â&#x2021;} Â&#x20AC;W Â&#x20AC; _ `[} '*Â&#x2021;} ( suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bankâ&#x20AC;&#x2122;s business performance. `[} '*Â&#x2021;}

% W ( institutions. In addition to its

} ( Â&#x20AC;V

Â&#x20AC; ' % \}V'] deployed in a multi-tiered setup that runs on a web thin client.

Comptroller of Customs, Federal Operating Unit, Ikeja, Mr. Umar Dairu displaying some seized poultry product and several crates of bottled beer to journalists in Lagosâ&#x20AC;Śrecently.

On Time International expands operations, to simplify access to public services centers, families, business owners

n Time International has just announced upcoming tour in West Africa in order to present the companyâ&#x20AC;&#x2122;s expertise in managing administrative services on behalf of public authorities. Thanks to substantial experience acquired

' 1 company wants to deploy its service ' ' regional authorities or investment agencies are expected to propose adapted tools to ease delivery of public services to individuals and companies. On Time Internationalâ&#x20AC;&#x2122;s CEO Alpha Diallo will therefore visit from 7 to 13 March 2016 several countries where public administration W recently launched â&#x20AC;&#x201C; such as Ghana, Nigeria, Burkina Faso, Republic of Guinea and Ivory Coast.

V W civil servants and improving their

initiatives to bring civil servants W . / ( reforms and projects in West Africa allow us to believe that public authorities are eager to discover â&#x20AC;&#x201C; and even ask for â&#x20AC;&#x201C; solutions provided by the private sectorâ&#x20AC;?, explained Alpha Diallo. He also added that On ` / technical support to accelerate and simplify a number of activities, such as visa and passport requests, birth â&#x20AC;&#x201C; which frees more time for civil servants to focus on statesâ&#x20AC;&#x2122; sovereign and strategic missions.â&#x20AC;? On Time International plans to deploy its activities by creating business centers â&#x20AC;&#x201C; called â&#x20AC;&#x153;one-stop shopsâ&#x20AC;? â&#x20AC;&#x201C; in cities and rural areas, close to populations. In these

and individuals will be listened to, guided and advised while completing their administrative procedures. All requests should be addressed within a deadline set in advance, and complying with this deadline will be a key performance indicator. With such approach, On ` ~ deliver quality public service, in a @

To support these â&#x20AC;&#x153;one stop shopsâ&#x20AC;?, data centers should be created to ( and encourage the development of e-governance in partner countries over the long term. As a conclusion, Alpha Diallo explained: â&#x20AC;&#x153;We want to set-up an ambitious publicprivate partnership in Africa. If we manage to convince public decision makers whom we will meet with, 1 million jobs can be created by 2020 as a part of our deployment plan.â&#x20AC;?

S/Africaâ&#x20AC;&#x2122;s Clover says it will no longer invest in Nigeria

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outh Africaâ&#x20AC;&#x2122;s Clover Industries will no longer invest in Nigeria % domestic economy, the dairy products company said during the week. / % experienced in Nigeria which is fuelled by the low oil price is a further cause of concern, thus the group has decided to withdraw from future investments in Nigeria,â&#x20AC;? Clover said in a statement. According to an agency report, the diary company was quoted as saying that, companies have laid % % % even closed operations as they struggle to get enough dollars to pay for imported spare parts and raw materials. The Nigerian naira had devalued following a slump in oil revenues, the countryâ&#x20AC;&#x2122;s lifeblood. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a sad decision but until the currency crisis is resolved we wonâ&#x20AC;&#x2122;t be able to invest in there any further,â&#x20AC;? Chief Executive Johann Vorster told Reuters. Clover had planned to invest no less that 100 million rand ($6.43 million) in developing its products in Nigeria, he said.

The company said it would continue to expand in Botswana, * } W He added that the company would like to keep the Clover brand alive through its Tropika juices. } % ' Truworths said this month it pulled out if its Nigerian business saying it was unable to import clothes and was struggling to pay rent and access foreign exchange. Clover on Wednesday posted a Ă&#x2039; Â&#x20AC; due to a higher demand for its

milk products and as a heatwave in southern Africa caused consumers to Â&#x201E;% ~ Headline earnings per share, a % } % ' % Â&#x20AC; for the six months to December totalled 117 cents from 109.2 cents in the previous year. Vorster said Clover was on the prowl for acquisitions which it would fund through its balance

% to investors for cash â&#x20AC;&#x153;if needs beâ&#x20AC;?.

Deutsche Boerse CEO touts benefits of LSE merger

eutsche Boerse (DB1Gn. DE) sees the Frankfurt exchange and customers % the German exchange operator } 1 \ }1 ] % chief executive said on Wednesday. The array of trading and services < % would not become more narrow

as a result of the merger, Carsten Â&#x2021; % merger of derivatives clearing activities because they would not have to put up as much collateral, Â&#x2021; â&#x20AC;&#x153;Market participants, including banks, would experience ( _ Â&#x2021; said,

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

MOTORING

FRIDAY EKEOBA bostonremy22@yahoo.com

The Nissan Maxima is finally worth looking at again

he Nissan Maxima is joining the midnight brigade with its $1,195 Midnight Edition Package for the 2016 model year. The option group adds a black sport spoiler, black % #Ă&#x2030;Â&#x20AC; % % Â&#x20AC;

charcoal leather seats with Alcantara inserts.

the SR model, which is second to the top level platinum trim, ( ( color combinations: super black, pearl white, brilliant silver, coulis red or deep blue V Â&#x20AC;Â&#x20AC; %Â&#x192; W Â&#x192; â&#x20AC;&#x153;Customer response to our limited production Maxima Midnight accessories package

last summer was so strong, (

Â&#x20AC;Â&#x20AC; launching it at a $1,000 discount versus what it would cost to order and install the features individually,â&#x20AC;? said Dan Mohnke, vice president, Nissan chief marketing manager and marketing operations. The Midnight Edition is an appearance package only,

Audi SUV blitz brings Q2, Q8 model, electric SUV

therefore the sedan continues Ă&#x2C6; $Â&#x20AC; Â&#x2020;Ă&#x17D; Ă&#x2C6;"" hp and a continuously variable transmission. * features, including forward

Bentley Mulsanne gets faster, longer more luxurious

% Â&#x20AC; sized Q2 crossover at the Geneva motor

` ( competitors. The Q2 will allow the automaker to take { Â&#x20AC; W = 'Â&#x20AC; Class directly in a segment ~ % ( ( month, but there is still room at the other end of the size spectrum. Audi will roll out the Q8 in !"#Ă&#x2030; ( ~ {Â Ă&#x17D; { Â&#x20AC; W = 1Â&#x20AC;[ % 1 Q8 to feature design elements previewed by coupe concepts

like the Audi Prologue, though the vehicle itself will be based on the Q7, which went on sale in the U.S. last month. For Audi, the focus on crossovers and SUVs is nothing new, though its lineup has lagged behind new entries 1% ( '% % % Â&#x20AC; style premium SUV segment still being in demand three years Â&#x20AC;Â&#x20AC; % long stretch when it comes to automotive fashion. QĂ&#x160; % '% plans to roll out an electric SUV in 2018. Expected to be positioned just below the Q7 in

size, the unnamed SUV will use tech and styling previewed Â&#x20AC; &% ~ shown at the Frankfurt motor show last fall. Q$Â&#x20AC; W %

Â&#x20AC;Â&#x20AC; driving the front wheels and two driving the rear

Â&#x20AC;Â&#x20AC; Â&#x201E;% Ă&#x2030;$ Â ~ % Â&#x20AC; electric concept, which can charged in 50 minutes, boasts Ă&#x2C6;#" Â the production version lands, it will take on the Tesla Model Â&#x20AC; } Â&#x2020; Audi hopes.

collision warning, intelligent cruise control, forward emergency braking, rear Â&#x20AC; @ spot warning, are all standard.

any time freshening up the Mulsanne. A new version will debut at the Geneva auto show next month. #Ă&#x160; in between the previous two takes on the model. It will arrive

Â&#x192; ( . {% Mulsanne Speed and Mulsanne 1 Â

/% % ( % % _ gets a restyle outside, chassis % / Â&#x20AC; _ rear seats that the company says will be the new benchmark in passenger comfort. The base Mulsanne continues $"$Â&#x20AC; Ă&#x17D; Ă&#x2039;$Â&#x20AC; Â&#x2020;Ă&#x160; scoots the car to 60 mph in 5.1 seconds with help from all 752 Â&#x20AC; ( 184 mph. The Speed model bumps % % $Ă&#x2C6;" Ă&#x160;## Â&#x20AC;

That pushes the car to 60 in just 4.9 seconds, and top speed is up 6 to 190 mph. ( Control system returns with modes for sport, custom, comfort / _ company thinks is the best mix of ride and handling. The front end gets a new Â&#x20AC;

than before, along with a pair 1 says the adaptive lights improve night vision and â&#x20AC;&#x153;demonstrate an ethos of precise execution of _ Â % automaker said that, but it did. The outer lamps are now raised to line up with the main beams. The front bumper, hood and radiator shell are also new, while Â&#x20AC; ( incorporated into the fender. Out back, the Mulsanne comes with a new bumper and taillights that

NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

PERSONAL FINANCE Money Talk By Kenneth Doghudje e-mail: money@moneytalkng.com

Wealth & Wisdom

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NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

GLOBAL BUSINESS

Could new US data reverse chances of US Fed rate hike?

ets on a US recession or the Fed having to reverse course on rate hikes are quickly coming out of the market, in the wake of the much stronger than expected ISM Manufacturing PMI. We have seen an immense risk-on rally over the past 24 hours of trade, and a lot of this does look to be underpinned by the stability that oil has found above the US$30 level over the past two weeks. China announced cuts to the RRR this week and markets are looking to the upcoming European Central Bank and Bank of Japan meetings for signs of further global monetary stimulus. With the

US Services PMI and Nonfarm Payrolls still yet to come this week, market pricing for a rate < ! to rise (WIRP pricing for a rate hike by December now sits at 63.3 per cent). One of the bigger losers from such a scenario this week is likely to be the lofty gold price, which trades inversely to the US yield curve. The US ISM Manufacturing PMI saw a very strong bounce from 48.2 to 49.5, and the production component rebounded strongly to 52.8. New orders also continued steadily in expansionary territory at 51.5. Clearly, the moderation in US dollar strength since the beginning of the year will have

helped the externally focused % % ( US dollar strength has been % % sector since late 2014, so there is a case to be made that US manufacturing has also begun to adapt. This PMI does look to Â&#x192; % point. The growing repricing of Fed rate hike expectations saw } Ă&#x2C6; Ă&#x2026; overnight, as rate increases will help increase net interest rate margins at US banks. The increased global optimism % help lift Aussie banks today. But % Â&#x20AC; ~ { &%

in particular, looks set to have a very decent day, considering it trades far more like a foreign bank than an Australian bank. ( further solid US economic data

} % be set to continue this rally, and some of that buying in the sector is likely to spill over to Australia. Aussie gold miners are likely in for some pain today as the gold spot price dived 0.6 per cent overnight on rising rate hike expectations. Iron ore jumped 1.8 per cent ( X +`V both gained over 1% in London. Boding well for the materials space ex-gold miners. OPEC oil output declined last month led by Iraq and Nigeria, which provided further upside to the oil price overnight. The main risk to the outlook for the ASX today are the '% Ă&#x2026;Q = X % The market is expecting a 0.4 per cent quarter-on-quarter increase and a 2.5 per cent year-on-year increase, but given the poor Â&#x192; Ă&#x2026;Q to those estimates appear to be on the downside. And despite the global risk-on rally, this could see the Aussie dollar lose its 0.6 per cent gain overnight

= X numbers today.

Obama

Shell faces fresh Nigeria pollution claims in London

il giant Royal Dutch Shell came under renewed scrutiny today over its environmental record in Nigeria after lawyers brought fresh claims of damage caused by spills to a London court.

[ % in a bid to force the Anglo-Dutch energy major to clean up damage caused in the communities of Ogale and Bille in the Niger Delta, Nigeriaâ&#x20AC;&#x2122;s main oil-producing region, and provide compensation. In Bille, the lawyers hope to prove that Shell is liable for failing to protect its pipelines from damage caused by third parties, which, they said, could mark a / _ A 2011 report by the United Nations Environment Programme found that decades of oil pollution in Ogoniland region, where Ogale is located, may require the worldâ&#x20AC;&#x2122;s biggest ever clean-up.

Leigh Day says that Shell, historically Nigeriaâ&#x20AC;&#x2122;s largest producer, has failed to act on the report despite its promises -- a claim that was also levelled last year by Amnesty International. The lawyers argued in a press statement that the 40,000-strong Ogale community continues to live / ( _ water pollution, which has had a devastating impact on its farming In hearings expected to take place later this year, Shell will argue that the two cases should be heard in Nigeria, not in Britain, according to a spokesman for the companyâ&#x20AC;&#x2122;s Nigerian subsidiary, SPDC. V / ( _ by oil theft, sabotage and illegal (

} long argued are the main causes of pollution in the Niger Delta. In Ogoniland, he said the company was acting on the UN report through an 18-month clean-up and

remediation programme agreed last year with the Nigerian government and community members. Chima Williams, of Environmental Rights Action (ERA)/Friends of the Environment, a Nigerian environmental rights lobby group, said the response to the UN report did not address the issue of compensation. â&#x20AC;&#x153;This is why the London suit is very important at this point. It will bridge the gap in terms of helping V % (

( _ told AFP. Shell agreed in January 2015 to pay more than $80 million to the Nigerian % serious oil spills in 2008, following

Â&#x20AC; ~ % Leigh Day in London. A Dutch court also ruled in December that four Nigerian farmers demanding compensation and a clean-up in four heavily-polluted Niger Delta villages can bring a case against the energy giant in the Netherlands.

Oil closes at 2-month high as equities rise, OPEC output slips

il closed at a two-month high in New York as global equities rallied and OPEC crude production dropped from a record. West Texas Intermediate crude rose 1.9 percent. Stocks advanced on optimism central banks from Asia to Europe will follow Chinaâ&#x20AC;&#x2122;s in adding to stimulus, while data suggests that American consumers can power the worldâ&#x20AC;&#x2122;s largest economy. Iraq and Nigeria led production declines in the Organization of Petroleum Exporting Countries last month, a Bloomberg survey showed. â&#x20AC;&#x153;The market continues to push higher after China lowered reserve &% _ = { = a senior analyst and broker at Tradition Energy in Stamford, Connecticut. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re up on bullish expectations. Thereâ&#x20AC;&#x2122;s a feeling that either non-U.S. producers will agree to a cut or that low prices will

( % ( } % _ Oil has slipped about 7 percent this year and averaged less than $32 a barrel during the past two months, the longest stretch below that level in more than 12 years. OPEC output slid by 79,000 barrels to 33.06 million barrels a day in February. WTI for April delivery rose 65 cents to $34.40 a barrel on the New York Mercantile Exchange. It was ~ Â&#x2C6; $ Futures touched $34.76, the highest intraday level since Jan. 28. Total volume traded was 12 percent above the 100- day average at 4:38 p.m. Futures retreated after the ~ ' Petroleum Institute was said to report U.S. crude supplies rose 9.9 million barrels last week. WTI traded at $33.84 at 4:39 p.m. { ~

24 cents, or 0.7 percent, to $36.81 a barrel on the London-based ICE Futures Europe exchange. It was the highest close since Jan. 4. The global benchmark crude ended the session at an 66-cent premium to May WTI. Prices climbed after Chinaâ&#x20AC;&#x2122;s central bank cut its reserve requirement ratio by 0.5 percentage points on Monday, freeing up the amount of cash the to stimulate demand. China is the biggest crude-consuming country after the U.S. U.S. crude stockpiles probably increased 3.4 million barrels from an 86-year high last week, according to a Bloomberg survey before an Energy Information Administration report Wednesday. The agency is projected to report that supplies of gasoline and distillate fuel, a category that includes diesel and heating oil, dropped. /Â ` ~ expectations for a further build in } (

_ 1( an energy analyst at Citi Futures Perspective in New York. â&#x20AC;&#x153;The price % ~ place. The market move itself acts as (

_ U.S. crude stockpiles grew to 507.6 million barrels in the week ended Feb. 19, the most since 1930, EIA data show. Supplies at Cushing, Oklahoma, the biggest U.S. oilstorage hub and delivery point for WTI traded in New York, rose to a record 65.1 million barrels during the period. â&#x20AC;&#x153;Inventories are going to continue to go up for a month or so, which will _ + ( } ~ } Wealth Management, which oversees $128 billion of assets.

Clouds gather over Africa as Barclays reduces stake in Absa

hen Barclays bought South Africaâ&#x20AC;&#x2122;s Absa in 2005, wading back into a market it quit in the 1980s under pressure from antiapartheid campaigners, the deal was trumpeted as a â&#x20AC;&#x153;tangible vote _ ' % % Eleven years on, as the British banking giant looks to end more than a century of involvement on the %~ /< } sign above its Africa business, it is hard not to conclude the opposite. Barclays said it was selling down its 62.3 percent, R70 billion ($4.5 billion) stake in its Johannesburgbased subsidiary - which runs Absa in South Africa and Barclaysbranded operations in 13 other countries - because of British regulations. Barclays Africa chief executive Maria Ramos also said the decision had nothing to do with the outlook for Africa, pointing to a 10 percent % #Ă&#x2039; return on equity to support her view. But these numbers are in local currency terms. When translated into pounds % ~ Barclays bosses in London - they tell ( % the return on equity, which falls to 8.7 percent, below the parent bankâ&#x20AC;&#x2122;s 11 percent target. Over the last year, South Africaâ&#x20AC;&#x2122;s rand has shed 20 percent against

the pound as mining exports have slumped, the economy has stagnated and President Jacob Zuma ~ ( % Over the decade since Barclays bought Absa, the decline is far larger, to the point that - despite a 70 percent share price rise - Barclays is likely to take home the same amount of National Bank of Abu Dhabi and Qatar National Bank are also possible bidders for the whole portfolio, although Qatarâ&#x20AC;&#x2122;s strained diplomatic relations with Cairo might complicate any deal due to its Egypt component, Middle East banking sources said. Speculation is also bound to swirl around Africa-focused bank Atlas Mara, co-founded by former Barclays boss Bob Diamond, although it is hard to see Atlas, valued at just $320 %@

of cash. Another option for Diamondâ&#x20AC;&#x2122;s % % (

% investors and launch a joint bid as part of a consortium, one of the bankers suggested. If these do not materialise, alternative outcomes for Barclays % % piecemeal, or keeping its hands on a minority stake. Barclays said on Tuesday it may keep a small noncontrolling stake in Barclays Africa beyond the 2-3 year sale deadline.

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NEWSWATCH TIMES, SUNDAY, MARCH 6, 2016

CUISINE A fine blend of class Wines et al and appetizing meals How to drink and enjoy Bukola Bakare

08034198320

bukkybakky@yahoo.co.uk

Scotch Whisky

Fast fried steak w ith sundried tomato and roasted red pepper orzo and mango salad

Grilled steak with black bean shrimps, roasted eggplant and broccoli dust

Lamb kebabs with tamarind sauce

oming from outside, you are not completely in full grasp of the treasures that lie within the % < its menu of exotic dishes, to the carefully crafted interiors of classy decor and cushy Shrimp stir fry with fried egg and furniture, it brings a something new to the >?@ADEHJ @KLHM?E AL? NHJ AQ It used the new trend of sequins in a noodles manner that is not too in your face or ( % and that was just the theme for that period, < so for regular diners, you should expect a new % % ( % (

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

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

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Alli: Iâ&#x20AC;&#x2122;m the king

Okumagba backs NFF decision on Siasia, others

Newswatch Times N Pg 42

Pg. 42

Okumagba

SPORTS

NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

Victor Enyinnaya

a t i o n a l Chairman of Nigeria Football Supporters Club (NFSC), Prince Vincent Okumagba, has commended the Amaju Continued on page 43

IMPOSSIBILITY!

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Babs Oyetoro

ormer Super Eagles captain, Henry Nwosu has played down on Arsenalâ&#x20AC;&#x2122;s claims to win the English Premier League title this season saying the Spurs will be the surprise winners of Continued from page 43

NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

ALLI: I’M THE KING T

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SPORTS

Impossibility! Continued from page 41

the highly celebrated EPL title this year. Nwosu, who said he was not a soothsayer waved aside Arsenalâ&#x20AC;&#x2122;s threat to the EPL shield noting that the Gunners % WW % ( % â&#x20AC;&#x153;I always see Arsenal as pretenders. They donâ&#x20AC;&#x2122;t have the tenacity to remain on top. You

% % to consolidate on their position. % the big occasion. /< match they lost to Manchester

}

' % will not lose such games. It is a

He described Leciester City as a serious team saying the team is a ~ 1X have made strong statements league that they meant business /

( ~ They are on top with 60 points % !# } % with 55 points and plus 27 goal ' with 52 points and plus 16 goal â&#x20AC;&#x153;Although, it may not be easy

[ % } % Â&#x201E;% (

to the top. One good thing about ~ themselves. X ` these big teams to win the EPL _ % ~ % ' Thierry Henry has expressed a divergent view on the possibility ~ % with league shield this season.

% /% _ ' % ~ win the Premier League ahead

~ ( season. ' ~

% /% _ ' % } % title this season.

â&#x20AC;&#x153;My God, I donâ&#x20AC;&#x2122;t even want % ` % % % ' _ % . /`

no one actually wants to catch

Okumagba backs NFF decision on Siasia, others Continued from page 41

X * < < \*<<]

spontaneous response to }% V % ( the vacuum.

Visa delays Akeem Latifuâ&#x20AC;&#x2122;s move to Ukraine

igeria international '

% has disclosed he

( ( % <[ } W W % % negotiate with the club two

Â&#x20AC;

Â&#x20AC; Â&#x20AC; Â&#x20AC; % /` (

Â&#x201E; <[ } W W Â&#x20AC; Â&#x20AC; Â&#x20AC; _ /` % % ` am expecting my visa to come %

` %

Nwosu

% hold on and win the league. / ~ their biggest rivals right now. But, please, donâ&#x20AC;&#x2122;t let them be champions.â&#x20AC;?

complete the move. â&#x20AC;&#x153;The coach and the agent who brought the deal have been in touch with me, they have been

@ % it.â&#x20AC;? % % * /` % % ' % (

` at the club, my teammates and % @ (

% % ` Â&#x201E;% ( ( Norway remains my second _ % { 1 ~ <[ }

} } 1 % ' % % } % % % ' ' % }% 1 % '<[V* !"#Ă&#x2039; &% X 1 later this Month in Kaduna and Alexandria, Egypt. He made the declaration in a telephone conversation with * } Warri saying that the step helped to stablise the system and as % }

leverage on that prevailing clam ~ % and hit the ground running. He also stressed that now the ( % as the camping exercise would commence immediately then the technical crew must be up and doing. â&#x20AC;&#x153;The immediate response has gone a long way to douse ( Oliseh action may have caused. Everywhere is clam. It is now incumbent on the crew led by } % % the maximum points in the game on one hand, he added. He predicted that the game }% 1 % must brace up to the challenge noting previous encounters have always been explosive. % % ( their utmost best in the two encounters. â&#x20AC;&#x153;The truth about this game against Egypt is decisive because the outcome will determine whether Nigeria would go to the Nations Cup or not. %

toil with itâ&#x20AC;?, he stressed.

Latifu

FC Porto renews Chidozie contract till 2020

[ W

the contract binding him to FC Porto until 2020, and will now have a

Ă&#x2C6;" % The 19 years old player, born in Jos, Nigeria, extended the contract started in January

!"#$ ( 1 Â&#x20AC;Â&#x2021; ' Dragons. [ W

% ( at FC Porto labelled as a ( % white and blues. National

junior champion in 2014/15, the second Nigerian player

<[ X Ă? { Ă?

the white and blue teams in 2015/16: the main, the B and the Under19. Recently, the youngster

as he opened the scoreboard

!Â&#x20AC;" ( ( = Vicente, at EstĂĄdio do DragĂŁo, the match that had FC Porto &% X % % Cup.

Siasia

NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

SPORTS/GOLF South African golfer wins Perth International

GolfWatch

* !# % V % W held his nerve late to snare his Ă?# Ă&#x2039;$ `}X} '* ' X ` Â V % W

% }% % Ă&#x2039;# !"#" V did enough to snare a one-stroke victory over < ' ( } % '

% Karrinyup, but a slow start to his day helped Â ' Â&#x2C6; } ( \Â&#x20AC;#Ă&#x2026;]

Â&#x192; a share of the lead. However, birdies at the 7th and 8th holes

V % W } ( % ( Ă&#x2030; #" '

Â&#x20AC; %~ V % W Â&#x201E;% Â&#x20AC; % ( % â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s great to be back in the winning circle,â&#x20AC;? he said. â&#x20AC;&#x153;I knew a three-shot lead wasnâ&#x20AC;&#x2122;t much around this track. I just needed to do what I did the last three days and just give myself opportunities. /` \ ] % ( % % %

â&#x20AC;&#x153;Thatâ&#x20AC;&#x2122;s what we do all the hard work for â&#x20AC;&#x201C; to try and get into that position. Itâ&#x20AC;&#x2122;s a great feeling to be able to win a tournament.â&#x20AC;? V % W % ( % % !"#Ă&#x2039; Â&#x20AC; season timeslot worked well for his schedule this year. /` Â&#x201E; X

` ` ` family,â&#x20AC;? he said. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a great spot and I loved the golf course. This is a very special win for me.â&#x20AC;? ( &% Â&#x20AC; % Ă&#x17D;Ă&#x17D; % Â&#x201E;% } ( Ă&#x17D;"Â&#x20AC; %~ % / % _ } ( 1% Tour result. â&#x20AC;&#x153;Just a few mistakes cost me today. But the more times you put yourself in that position \ ] % get.â&#x20AC;? < < = % \Â&#x20AC;#Ă&#x2C6;] only made the weekend cut by one stroke, % % Ă&#x17D;$ Ă&#x17D;Ă&#x17D;

% ' X Uihlein. Â ' ~ +% \Â&#x20AC;##] underwhelming weekend having been in a promising position at the tournamentâ&#x20AC;&#x2122;s halfway point. V % W % % % % } % ' Â&#x2021; % 1

1 \!""!] +

= \!""Ă&#x2C6;] Â&#x2C6;

Â Classic wins at the course. V % W % ~ WGC Cadillac Championship in Florida ~ % Â&#x20AC;% { Â&#x201E; %

â&#x20AC;&#x2DC;â&#x20AC;&#x2122;I must thank the sponsors for organising a wonderful tournament and the course % %~ course in great shape. Torgah put up a great show, itâ&#x20AC;&#x2122;s unfortnate both of us were not %~ Â ( of Africa together he is a great player with unbelievable talent. I had reasonable chances on the front with makeable birdies from inside gboladada@yahoo.com #"

' #" #! ` relied on regulation to see if I could turn my `

#$ #Ă&#x17D; the par save on the last hole,â&#x20AC;? said Odoh who withdrew from a tournament in Johannesburg to play in the maiden West African Tour. Leaderboard # V V Ă˘! Ă¤ Â X He started the round four shots out of the ! 1 Â&#x2021; Ă˘! lead, and gained momentum on both nines as Ă&#x2C6; Â&#x2020; Ă˘! his two-ball partner, Torgah was disappointed Ă&#x2026; = Â Ă˘Ă&#x2026; %~ $ { Ă˘Ă&#x2026; V

% Ă&#x17D; { ' Ă˘#" ` %~ Ă&#x2039; Â&#x2021; V %Ă˘#Ă&#x2C6; birdies in seven out of the nine holes on the ~ Ă&#x2C6; Ă&#x2C6; four feet from the right, lost pace as it reached % ~ %

$ ( Â&#x20AC; % Â&#x20AC; third shot near the bunker to the right of the iger Woods hasnâ&#x20AC;&#x2122;t picked up his sticks green appeared destined for an eagle. and played a golf tournament since All this while Torgah was struggling and his '% % Â&#x20AC; Â&#x201E;% frustration was reinforced by his failure to gain will soon be the longest of his career. on hole two after landing on the green in two. The Ghanaian allowed Odoh a share of the And in that time, despite Tiger being the most % ( ( % ( \ % His only birdie on the front and on the day % ] ( was at hole nine, when he drained an eight foot decades, the sport he helped revolutionise has, %~ V

&% %

~ % over the past year, and this season when he clipped a tree on hole eight, by one shot. V #" #! % hasnâ&#x20AC;&#x2122;t been around at all.

Torgah in outright lead and allowed Korblah who was playing in the group ahead with Gift emergences in golf since Tiger himself roared at the 1997 Masters and proceeded to put Â Koblah, West Africaâ&#x20AC;&#x2122;s all time greatest golfer, ( Â&#x20AC; % % #! % Ă&#x2039;"

( Â&#x2C6; }

+ { ` %

Odoh went on the ascendancy with four heâ&#x20AC;&#x2122;s poised to win many more majors in his holes to play with a pair of birdies on holes 15

Â&#x2C6; ~ ( major hump to make a true golf Big Three #Ă&#x17D;

% @ \ % Â&#x2C6; +

$ #Ă&#x17D; Â&#x201E; ] = }% resting in a beehive. After aiming his second shot with a 1-wood ( ' } ~ } to the apron left of the green, he animated the = \ }% ] % % Â&#x192; !""Ă&#x2026; eagle miss that made him to clutch his head in was lurking on every leaderboard, threatening to go on a run and send Tiger cheers ringing agony. He tapped in for birdie to become the co- throughout a golf course. Give me seven over one any day. leader. This is new. It hasnâ&#x20AC;&#x2122;t been this way. When After a par save on the 17th, Odoh showed character with a deft chip on the 18th that Tiger has been hurt in the past, the biggest curled into the cup for par and put him in the story heading into the big tournaments has

been his absence. When heâ&#x20AC;&#x2122;s struggling, the to the right of the fairway. The save nearly \ brought down the atmosphere when the fans % ] encroached the green and mobbed him with % % whether it was networks discussing his woes %~ or still insisting on showing every shot even if he was 11 back of the leaders. That was never commitment, we are moving forward with more evident than at last yearâ&#x20AC;&#x2122;s British Open !"#Ă&#x17D; ( % { _ Â&#x2C6; }

} The Tour is in a tough position. Trumpâ&#x20AC;&#x2122;s Â&#x20AC; % Ă&#x17D;Ă&#x2039; antics and insensitive remarks continue to % % Ă&#x2039;Ă&#x17D; %

Â&#x201E; ' ~ % ĂĽ } Â % &% V !"!! X=' [ % tournament seem irrelevant if Tiger wasnâ&#x20AC;&#x2122;t on * * Â&#x2C6; !"#Ă&#x2039; < % } X=' [ % * much on him made everybody elseâ&#x20AC;&#x2122;s success

X < Â&#x2020; feel hollow. The tacit implication was that

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08023113110

How Odoh emerged victorious at West African Golf Tour

â&#x20AC;&#x2DC;Woodsâ&#x20AC;&#x2122; absence from golf good omenâ&#x20AC;&#x2122;

How Odoh emerged victorious at West African Golf Tour

che Odoh at the weekend produced a thrilling performance to win the West African Golf Tour in Abuja. The Nigerian was roared on by a partisan home crowd at IBB International Golf [ % [ % = Emos Korblah and Vincent Torgah by a crucial ( %

Â&#x20AC; '

Ă˘! ( Ă&#x2039;! Gift Willy and Liman Mohammed tied for % Ă˘Ă&#x2026; ( { ' Â&#x2021; V % ( round by four shots, hooked his tee shot into the gorse on hole 18 and made a double bogey Â&#x2021; $Â&#x20AC; #!

%~ V With his own approach overruning the green to the left, Odoh chipped in to within three feet and converted % %~ W

Ă?Ă&#x17D; """ It was his second victory in the the West and Central African region in two months and a well deserved one particularly for the way he played over the four days of the tournament.

John Daly supports friend Donald Trump; PGA on hot seat

X=' % % % % ( Â&#x2C6; % Â&#x201E; % % ( % ~ + % nomination.

Â&#x20AC; but other than that heâ&#x20AC;&#x2122;s probably just looking for free golf on one of Trumpâ&#x20AC;&#x2122;s % } X=' is playing on Trumpâ&#x20AC;&#x2122;s Blue Monster course

Â =[Â&#x20AC;[ Championship. V { X=' % saying it disapproves of Trumpâ&#x20AC;&#x2122;s statements on immigrants and Muslims but will continue its relationship with him for now. â&#x20AC;&#x153;We continue to stand by our earlier statement, and the statement of other golf W { % are inconsistent with our strong commitment to an inclusive and welcoming environment in _ X=' to GOLF.com. / X=' % $Ă&#x2C6;Â&#x20AC; % greater Miami area and the charities that have % = (

Daly

Woods

NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

POLO/SPORTS Edmundo Tigers wins New Zealand Polo Open

Prince Albert Esiri in action at the recenrly concluded Lagosâ&#x20AC;&#x2122;2016 internatonal polo tournament. Esiri warming up to host the annual Easter Polo Tournament at his swanky Abraka Turf Polo & Country Club as the polo season resumes.

Abraka, Minna beckon as Nigerian Polo Tour resumes Ekpenyong Ekpenyong

he ever vibrant Nigerian National X % fanfare and pomp at the ancient kingdom of Katsina last August, is set to resume after a deserved break from six months of bumper-to-bumper road trip. + % %~ % the cream of Nigerian polo stars through Katsina, Yola, Kaduna, Jos, Port Harcourt and Ibadan, before making a splashing #Ă&#x2030;"Ă&#x2026; Â

Â&#x20AC; deserved break, the prestigious Nigerian % ' { % @

( % '% %

Â&#x2021; %

ago during the Lagos International Polo < [ % % % ~

% % Â&#x201E;%( their various stables and double their tour. While the tour lasted, the game of

ĂŚ% some startling in-roads as one of the %

( %

reviving old ones along the road. % % the epoch making inauguration of the ( ( X Ă§ [ % [ % ' %Â&#x201E; ~ Â&#x2021; @ X +

* }

% % after. ' % holding on to the top spot at four goals, interesting resurgence as Jos polo club (

decade, sprang back to life. < Â&#x2C6; % % % % % W % ( Â&#x201E; ( % Â&#x2021; % ' %Â&#x201E; % Â&#x2C6; % % % *X< tournaments had a good race both on % X [ % ' Â&#x20AC;` Â&#x2C6; X [ % } (

Â&#x201E; ( % ( ( commence after the Lagos International % ' %

next month tour resumption date. ` %

% phase beckons, has the Nigerian and Africaâ&#x20AC;&#x2122;s reigning polo kings, Kaduna EL-Amin leading the pack. V % } +% phase on high, Honourable Wadadaâ&#x20AC;&#x2122;s Â&#x2021; @ X Â&#x201E;%

Â&#x2021; Titans. These three together dominate % Â&#x20AC; W %

( much intact. ' % ( % { ' %Â&#x201E;

% % {` % and Kano in that order. `

private tournaments listed to feature % ( [ }

% (

% { % ( %

% % { Â&#x2C6;% Preparations for the Minna Annual X % Â&#x192; * } %

% %

( W Ă? ` } [ ' ` [% { W % % % % = ( [% 1 { [% = Â&#x2021; [% ' % [% = Â % [% [%

% } % ` Edmundo Tigers, in front of a Ă&#x2039; """ Ă&#x2026;Ă&#x2030; + ( * X V !# < %

% % * Â&#x2C6; X % [ Ă&#x201E; International line-up including } % ' Â&#x2020; +

' X V '% } } ~

% [ % #"Â&#x20AC; Ă&#x2030; X 1 % % V % 1 [ Â&#x2C6;

' Â&#x2C6; % % Â&#x201E;% 1 Hitchman. 1 % ( '% ( % Ă&#x2026;$

games happen. /`

( bringing four truck loads of polo

} % ` %~ % * X V !"#Ă&#x17D; % _ + ( * V % $" ( !"#Ă&#x2039; @

Auckland Rescue Helicopter Trust % @ '% X [ % 1 % ( } Â â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re thrilled the Land Rover * X V Ă?Ă&#x2026;! """ '% Â + % % _ { [ X !"#Ă&#x17D; } % !Ă&#x2C6; '

Ă&#x160; ~ [% #! [% Â ( Ă&#x2026;Ă&#x160;$ !"#$

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Ă&#x2026; #! Â&#x2C6;% ~ Ă&#x17D; [% !# Â&#x2C6;% Ă&#x2C6; Â&#x2C6;% Ranked alongside the Argentine }' V %

V X [ Â&#x2C6; Â&#x20AC; [ % = [% spectators can expect to see the Â&#x201E; #" [ Â&#x20AC; = [% % #Ă&#x2030;$Ă&#x17D; Â&#x2C6; [ Ă&#x2C6; Â&#x2020; %

predicted to be competing in the Â&#x2C6;%

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NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

SPORTS UPDATE

Rangers beat Wikki to go top

nugu Rangers are the latest leaders of the Nigeria league after they Â&#x20AC; Â % 1-0 at home yesterday. #" % {<{ <[ action today. = ' % Ă&#x2021; < ' [ Â ( {%

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Goal drought hits Ighalo

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Rangers players

Musa turns down Leiceter, in love with Arsenal

he Nigeria international is reportedly being trailed by a host of Premier League clubs, including the Foxes, but admits

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NEWSWATCH TIMES SUNDAY, MARCH 6, 2016

SPORTS UPDATE

Paul Bassey

Siasia may end up as Super Eagles coach â&#x20AC;&#x201C;Paul Bassey Babs Oyetoro

eteran sports journalist, Paul Bassey has reasoned that the Super Eagles caretaker coach, Samson Siasia may turn out to be the substantive coach of the senior national team at the end of day. Bassey, who returned to the country after CAF assignment in Rwanda refused to be drawn into the speculation on the appointment of a foreign coach for the Super Eagles but he sounded positive that the Eagles may spring a % '<[V* &% against Egypt this month. He stressed that if coach Siasia is able to salvage four points from the two leg encounters Â&#x201E;% any foreign coach again. â&#x20AC;&#x153;We need to understand that the match ahead is crucial for Nigeria because we cannot

' } lead the Eagles through these two matches then you donâ&#x20AC;&#x2122;t need any foreign coach again. He, however, expressed disappointment at ~

headed by Barrister Chris Green as the problems of the local coaches working with the national team. He lashed out at the critics for lack of facts in their argument explaining that the ~

( % coach Sunday Oliseh for him to succeed on the job given to him. He revealed that Barrister Green contacted him while he was in Rwanda to get the video clips of the Egypt national team for Oliseh to work with noting that he was able to get it for him. â&#x20AC;&#x153;Although, Olisaeh was not our candidate because we had no hand in his employment but we decided to work with him for the progress of Nigerian football until he chickened out himself in the middle of preparations for a crucial encounter with Egyptâ&#x20AC;?, he explained.

â&#x20AC;&#x2DC;Dont blame Unuanel for Sunshine Starsâ&#x20AC;&#x2122; woesâ&#x20AC;&#x2122;

he Ondo state sports writers boss insisted the former Kwara United handler was not responsible for Owena Wavesâ&#x20AC;&#x2122; early collapse in the * Â&#x192; Chairman of Ondo state sports writer, Akintunde Akinsemola denied Samson Unuanel was at fault for Sunshine Starâ&#x20AC;&#x2122;s stuttering campaign in the Nigeria Professional Football League. [ % Owena Wavesâ&#x20AC;&#x2122; 2-1 to MFM FC on Wednesday and was replaced by Sunshine Queenâ&#x20AC;&#x2122;s Kayode Olujohungbe. â&#x20AC;&#x153;Unuanel has been in charge of Sunshine Stars for just three matches, a home draw to Akwa United, an away loss to Lobi Stars and MFM FC so basically you canâ&#x20AC;&#x2122;t say Unuanel is a failure just after three matches,â&#x20AC;? Akinsemola told Goal. â&#x20AC;&#x153;If you take a closer look at Sunshine Stars from last season a couple of players went on to play for the Super Eagles but these top rated players have left Sunshine Stars. Players like Prince Aggreh, Paul Onobi, Tunde Adeniji who was on the list of top scorers from last season and Cameroonian, Termen Medrano who has been very consistent for Sunshine Stars have all left. When you allow your best legs to go you must sign players that will step in successfully but honestly Sunshine Stars havenâ&#x20AC;&#x2122;t done that.

Ogagotewho

Though the management of Sunshine Stars mentioned that lack of unity between coach Samson Unuanel and head technical Henry Abiodun compelled the sacking, Akinse

( ~ % ~

EPL RESULTS 2-2 1-1 2-3 4-0 1-3 1-1 1-0 0-1

Arsenal Stoke City West Ham United Aston Villa AFC Bournemouth Sunderland Norwich City Leicester City

Eagles call-up delights Ogagotewho

ke Ogagotewho has expressed

( Nigeria call-up ahead of the crucial Africa Cup of Nations &% 1 Coach Samson Siasia named his 42-man &% % % % day, with Ogagotewho picked alongside the likes of Kenneth Omeruo, Godfrey Oboabona and Efe Ambrose. The Sunshine Starsâ&#x20AC;&#x2122; player insists he wants to be a key member of the Super Eagles for a long time and says he has given no thought to be scared of any big name in the team. â&#x20AC;&#x153;I count it as a great honour a call to represent my country amidst other great players,â&#x20AC;? Ogagotewho told Goal. â&#x20AC;&#x153;A proud moment for me and my family and I am very motivated to justify my

inclusion because chances like this donâ&#x20AC;&#x2122;t come often. â&#x20AC;&#x153;My plan is not to make up the numbers in camp but to make my debut against Egypt and from there seal a permanent shirt in the star-studded team because I have come to stay.â&#x20AC;? â&#x20AC;&#x153;To be candid, the big names in the team like Efe Ambrose, Godfrey Oboabona and Leon Balogun donâ&#x20AC;&#x2122;t scare me because I know my ability. â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;ve realised there are things about my game I need to work on and concentrate on and I know this is the best place to be. â&#x20AC;&#x153;We are beating Egypt in Kaduna. We are going to pick all the maximum points before their fans. Nigerians have nothing to worry about for the Super Eagles. We will get the job done,â&#x20AC;? he concluded.

Wenger hails Sanchez, Welbeck for holding Spurs to 2-2 draw

Unuanel

Tottenham Hotspur Chelsea Everton Man City Newcastle United Southampton Swansea City Watford

=% ~ from 2-1 down to earn a draw at White Hart Lane - although they are ( X

League leaders Leicester City Arsene Wenger has praised the performances of Alexis Sanchez and Danny Welbeck following ' !Â&#x20AC;! ~ ham at White Hart Lane. The Gunners took the lead % ' + Â&#x20AC; half opener before being reduced to 10 men following Francis Coquelinâ&#x20AC;&#x2122;s second yellow card of the match. Spurs then took the lead through Toby Alderweireld and Harry Kaneâ&#x20AC;&#x2122;s superb strike, but Arsenal rescued a point with Sanchezâ&#x20AC;&#x2122;s equaliser. â&#x20AC;&#x153;I think we have seen up front, Welbeck, Sanchez, much stronger today,â&#x20AC;? Wenger told BT Sport. â&#x20AC;&#x153;At the back, we were composed, [David] Ospina did well.

Newswatch Times -Tradition built on Truth

www.mynewswatchtimesng.com

Vol. 02, No. 9

SUNDAY

March 6, 2016

N200

Itâ&#x20AC;&#x2122;s on record The longest time survived trapped underground is 69 days by â&#x20AC;&#x153;The 33 of San Joseâ&#x20AC;?, (32 Chilean and 1 Bolivian), who were trapped 688 m (2,257 ft) below the surface, after the collapse of the San JosĂŠ copper-gold mine, near CopiapĂł, Chile, on August 5, 2010.

LAST WORD Nigeriaâ&#x20AC;&#x2122;s learning problem ...with

PAT UTOMI dinachi2005@yahoo.com

number of things struck me in the last week. They include reports of a survey of US CEOs; another on Africaâ&#x20AC;&#x2122;s best and worst airports; Â&#x192; * institutions, from the prisons service, to policing, the judiciary and electoral process. What could they have in common - plenty. Itâ&#x20AC;&#x2122;s about learning and action. The survey of American CEOs suggests that most think travel and exposure is critical for their

( ` % then surely, the fact that foreign airlinesâ&#x20AC;&#x2122; First Class Cabins are full of government @ ( % % mean we get a lot of learning. For some reason, it does not seem to be translating into consequence of positive value for our front. Is it that we are learning and not doing that which we have learnt? Or could it be that we close our eyes and block our ears, as we travel abroad? Recently, the Lagos Business School had its annual alumni conference, and the keynote speaker was the Chief Executive of the South Centre in Geneva. A Malaysian, who still carries the dream from President Â&#x2C6;% % * } % Commission desired a Think Tank for the Third World, could not resist exclaiming to the LBS Alumnus, who welcomed him at the airport, as they journeyed to his Victoria Island Hotel: where is the oil money? He was shocked at the poor infrastructure of â&#x20AC;&#x2DC;the new improvedâ&#x20AC;&#x2122; Lagos. Imagine how he would have felt if he saw the old Lagos. So, how come our widely-travelled political actors and senior bureaucrats, who seem to go on training only when it is abroad, have not seen enough to feel shame and be determined to turn things in the direction of those experiences? Some years ago, two Harvard Professors, }%~ X

% the Knowing-Doing Gap. They probably should have been told that the ultimate Laboratory for people, who know but sometimes fail to implement what they % * has today come to frightening proportions

ĂŚ * ` % * as examples. The work of many historians, especially writers of economic history, and

including the murder of the Chief Law V@ '~ Â&#x20AC;= Ige, and even hundreds of their own men in Benue State belie logic, there appears to be a breakdown of discipline and capacity. The judiciary, once upon a time last hope W %~ Â&#x201E; Â&#x2C6;% get beaten up in broad daylight, and Abuja does not realise that quick and appropriate response is more important than building new roads. What of the Army? They do not trust the Police, who should move in after they have swept insurgents out, because

~ tell the Police. In the end, they are not as

( % Foreign commentators have said much that which is not salutary about the state of an Army that was on the pride of peacekeeping around the world. What about the prisons, where you keep those you apprehend? Jailbreaks are almost weekly, and those inside are not in correction institutions, nor are prisons a place to gather intelligence to contain the infractions that disturbed society and % If our institutions are in free fall, Culture in Collapse and the economy turning towards, how come the politicians are not discussing issues? Because the electoral process is broken, and not about ideas on ~

% war lords take territories. The way the politics of 2015 is going, the civilian regime may fully lose its legitimacy by end of February. If we are about war lords, then surely we have a knowing-doing gap, as a Liberian Ambassador said to me in 1991 during the civil war in Liberia. How come, % * % % * % money to save us, but you seem unwilling to learn from what got us where we are? The Ambassador, who was a colleague in Graduate School in the US, never stopped marveling at our inability to learn. This learning inability has reached a point where most clear-minded people think we need to prevent elections in 2015, if we are to avert anarchy. Should it be so?

and the Rest; or in quite a number of political Economics and Finance, scientists, have come to as with Hernando De show that institutions are Soto in The Mystery of key to human material Capital, and Douglas advance, just as others The judiciary, * ` % argue that values shape once upon a time, Institutional Change and human progress. But Economic Preference in it is quite evident that last hope of the Institutional Economics, * citizen, is now there is convergence collapse of culture, and its the butt of jokes. % ~ institutions are in crisis. Even from praxis, Barak Judges get beaten % ( * V % seem to think of their up in broad speech in Africa as US role, as citizens, or in the daylight, and President in Accra, consequences they place Abuja does not reminds us that what on actions of politicians, as related to institutions and realise that quick Africa needs is â&#x20AC;&#x2DC;â&#x20AC;&#x2122;strong institutions, not strong institution building, even and appropriate menâ&#x20AC;&#x2122;â&#x20AC;&#x2122;? But look at our though institutions, as response is more Institutions. the cornerstone of human We are in law and order important than progress, have emerged crisis with Insurgency in scholarship, as the building new

* 1 dominant paradigm. roads much violence elsewhere, Whether it be from but what is the state political science, with of our Law and Order Daron Acemoglu, and Institutions. The Police James Robinson, writing Force is a national

Â * < Ă&#x201E; Pat Utomi, Political Economist, and embarrassment. Beyond sociological imagination, being used, as they were Professor of entrepreneurship, is founder of as in Jared Diamond in the Centre for Values in Leadership. [ * in the Tambuwal case, the state of graft Ferguson in Civilization. The West ( (

FACTS FILE In the new Shell divestment programme, Nigerian banks participated by raising up to $2.5 billion (N3.780 trn) to support the acquisition of 28 oil wells by indigenous companies, which shows commitment to the local content initiative.

Samuel Akintola was born in Ogbomosho to the family of Akintola Akinbola and Akanke. His father was a trader who descended from a family of traders. At a young age, the family moved to Minna and he was briefly educated at a Church Missionary Society school in the city.

Horse racing ranks as one of the most dangerous sports ever. Between two and three jockeys are killed each year. Thatâ&#x20AC;&#x2122;s about how many baseball players have died in baseballâ&#x20AC;&#x2122;s entire professional history.

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