Sunday e versionb 21 february 2016

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States have incurred over N1tr foreign debts –Shehu Sani Taiye Odewale, Abuja

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Local and Foreign Loans, Senator Shehu Sani (APC, Kaduna Central), disclosed, yesterday, that the total debt is equivalent to about N1.122 trillion, at the

!"#$ %& ! "# Shehu Sani ,who made the disclosure while responding to the reaction made by the 19 northern

states’ governors to his rejection of their plan to get another round of foreign loans from Saudi-

Oyedepo canvasses huge investment in education >> Page 5

Continued on page 2

Newswatch Times -Tradition built Truth -Tradition built onon Truth

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BUHARI INSISTS:

NAIRA DEVALUATION,

NO-GO AREA Taiye Agbaje, Abuja

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gainst a dwindling economy facing the country, President Muhammadu Buhari, yesterday, insisted that his government would not devalue the naira. He, however, expressed optimism

Obasanjoled observer group rates Uganda election low >> Page 3

that Nigeria would soon get out of its current economic downturn. Speaking while contributing to a Presidential Panel Roundtable on Investment and Growth

Appoint substantive MD for NAMA, stakeholders >> Page 5 tell FG

Opportunities at the opening session of the Africa 2016: Business for Africa, Egypt and the World, at El-Sheikh, Egypt, President Buhari said Nigeria cannot not compete with

developed countries that produce $ % their local currencies, unlike Nigeria that imports virtually everything, including toothpicks. “Developed countries are competing among themselves, and when they % & manufacture and export more. But we are not competing and exporting but importing everything including

Continued on page 2

Mark in early lead in Benue re-run election >> Page 4

Iheanacho tackles Mikel Obi in FA Cup final today

>> Page 41

2

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

NEWS

‘Naira devaluation is no-go area’ Continued from page 1 toothpicks. So, why should we devalue our currency?� he asked rhetorically. He continued: “We want to be more % ' * other basic things such as clothing. For our government, we like to encourage local * & + According to the President, those who have developed tastes for foreign luxury goods should continue to pay for them rather than pressure government to devalue the naira. He said that the country would surely get out of its current economic downturn, while noting that another major problem militating against economic revival is the & insurgency and international terrorism. He, however, commended the support received from the international community in / as well as the cooperation in tracing looted funds stashed away in foreign countries. Responding to a question on his * President said that his administration had been quite focused on three fundamental issues of securing the country, reviving the economy and stamping out corruption. “The message on corruption has been driven home vividly, and Nigerians are very acceptable to the message,� he said, adding that those accused of stealing public funds were cooperating by voluntarily providing useful information while investigations and prosecutions were ongoing. The President said that the priority of his administration at present is to ensure national food security before export of food products, and stressed that Nigeria, being a mono-economy dependent on oil, and with a teeming unemployed youth population, the way out of the current slump in the global oil market, is for the administration to focus on agriculture and solid minerals development. He said: “The land is there and we need machinery inputs, fertilizer and insecticides.� In his opening address at the Forum, 3 & 4 5 '7 3 ' Sisi, said Africa needed to concentrate on transforming into knowledge societies using innovation and research. The Presidents of Gabon, Equatorial Guinea, Sudan and the Prime Minister of Ethiopia also participated at the Roundtable. In his opening message, the President of the African Development

Buhari Bank (ADB), Akinwumi Adesina, said that: “Africa must think big, act big and develop big.� Before departing Egypt, President Buhari and his Egyptian host had a bilateral discussion on security, military cooperation, agriculture and solid minerals development. In a related development, the Minister of Information and Culture, Alhaji Lai Mohammed, said, yesterday, that the 2016 budget was not padded because the total % exceeded N6.08 trillion. ; < = >@ total for every ministry has remained exactly National Assembly. A lot has been said about the budget. Let me make it clear that nobody can ever accuse this government of padding any budget. “It is factually incorrect to say that the @ the history of this country that a government would embark on what is called zero-based budget. “Before now, the budget system was what was called an enveloped system. In an % & J to why we need N30 billion for a structure. This year, we decided that every ministry must have a zero based budget. In other

Adeosun words, you must justify and explain why you need N100 billion. “This is very good system, the software for % & $ @

not used to it. Now, in the process, we got to National Assembly, and what the ministers do is to have a broad overview of the budget. @ & ; U* uniform for all ministers.� Mohammed also said exports, balance of trade, and the country’s Gross Domestic Product were responsible for currency appreciation and depreciation, adding that: “Before now we used to sell crude for about 100 dollars per barrel, which meant if we produce two million barrels per day, you have something in the region of 200 million dollars less the expenditure of production and others. “But today, for the same two million barrels, you have less than 60 million dollar less the cost of production. Clearly, if your major source of exchange is crude, and it has gone down from 100 per cent, you have lost 70 per cent of your source. Secondly, if your balance of trade is surplus, in other words, if you import more than you export, then you % & countries. What the government is doing is to ensure % &

managed. Part of the decision we took was the Treasury Single Account (TSA). Others include blocking all forms of corruption and % & get foreign exchange for other sources.� he said. Mohammed also appealed to university teachers across the country to join the ongoing war against corruption by making their voices heard. He made the call when he paid a courtesy visit to the Vice Chancellor, University of Lagos, Professor Rahamon Bello, just before he delivered a paper at the Gani Fawehenmi Students Chambers Human Rights and Anti-Corruption Symposium held at the university. Mohammed said: “I implore you to join the current debate on the war against corruption. Corruption is the single, most debilitating factor other than insecurity, in Nigeria today. We have lost lives; we have lost an economy because of corruption.� Alhaji Mohammed said that by virtue of their research work and academic prowess, the public on the economy, governance and & $ further enrich the nation’s democracy. He said: “I think the university lecturers, the professors are really keeping quiet. You have almost insulated yourselves from politics and governance. Today, we hear a cacophony of voices about the economy, governance and the polity from people who don’t have the kind of depth and scholarship that are available in the university. “I will like to watch a television programme and see a professor of law with speciality in corruption or terrorism. I would rather listen to him and I know that many of these professors have done seminal works on these. There must be this town and gown relationship,� he said. Mohammed commended the University of Lagos for its achievements, especially for % & radio and, also, for its advanced plans to % disclosed by the Vice-Chancellor. Earlier, while welcoming the Minister, the Vice-Chancellor had said that, as an alumnus of the institution, Alhaji Mohammed remained one of the main drivers of positive change in the country, saying, “With your pedigree, we are sure your performance in that position will be to the dignity of the University of Lagos.�

States have incurred over N1tr foreign debts –Shehu Sani Continued from page 1 based Islamic Development Bank (IDB), said most of the debts were loans collected in the name of infrastructure or development with Sani, in a press statement issued yesterday, said more worrisome and pathetic, was the situation that, in the 19 northern states, where such foreign loans now constitute huge debts, they were used by former and some current governors on personal luxuries or wasted in maintaining local political empires or in J unrealistic political campaign promises. According to him, there is no tangible infrastructure development in the North commensurate with the amount of loans collected by the state governments in the last two decades, warning that, if this generation of Nigerian leaders cannot leave behind for the future generation, a developed and industrialized nation, they must not enslave them or paralyze their future with debts. The statement tilted: ‘My response to Northern Governors’ reaction to opposition against their foreign loan request from Saudi based Islamic Development Bank’, reads: “The Northern Governors, yesterday, through their chairman, the Borno State Governor, X & to their move to secure loan from the Islamic

Development Bank in Saudi Arabia. They insisted I am wrong and they are right. I wish to respond to them. >@ Nigerian States stands at $3,271,960,461billion. Most of these debts were loans collected in the name of infrastructure or investment. There is no tangible infrastructure development in the North commensurate with the amount of loans collected by the state governments in the last two decades. “Most states are incapable of servicing their debts in the next 50 years. Taking cognizance of the current state of our economy, we have been plunged into a debt trap of which our grand children will not even be able to pay.� He continued: “There is no single exportbased investment or industry in the North that is currently in operation towards generating & foreign exchange. Dwindling oil revenue and handouts to states J & governors to source for foreign loans, and pile up debts for this and future generations of northerners. “If we keep on borrowing at this pace without adequate plan and enough resources to service them, we will end up burying ourselves in debt. >\ % / no seriousness by most states to improve on agriculture. Most states’ ministries of

agriculture are simply redundant, underfunded bureaucracies, already turned into outposts of handouts by being addicted to, and intoxicated with federal allocations. >X ] his colleagues should look inwards and think of & ! from pauperism and underdevelopment, and not by lumping on them burden of unserviceable debts.� The northern states’ governors had, in their reaction to Shehu Sani’s opposition to the IDB loan, said that all his submissions against the move were borne out of ignorance and misdirected activism. @ ; ^ % X who, as the chairman of the Northern Governors’ Forum, spoke on their behalf, said, contrary to Shehu Sani’s allegation of not following due process, all required steps in ] & He added that the loans were being structured & % & * & of the governors to spend it outside the scope of what it was meant for, when given. But Sani, in his earlier statement against the loan, had said the recent solo moves by governors of the northern states to obtain loans from the Islamic Development Bank was in _ 7 Republic of Nigeria. According to him, the action of the governors

runs contrary to the relevant provisions of the act that clearly and unambiguously rests the exclusive right to borrow externally on the Federal Government. He added that governors of the northern states could just jet out to Saudi Arabia to solicit or collect loans without following the due process of the law, and that the law further states that “State Governments and their agencies wishing to obtain external loans shall obtain Federal Government approval in principle from the Federal Ministry of Finance. He added: “This is the provisions of paragraph 2:2(II) of the external borrowing guidelines. In addition to the above, paragraph 2.2(v) of the same guideline succinctly declares that : “All external borrowing proposals of the governments and their agencies for the next & 90 days preceding the year to the Minister of Finance for incorporation into the public sector external borrowing program for the coming year.� ` & declaring that: “Whoever led the northern governors to Saudi for loans is ignorant of the relevant provisions of the law, or has chosen to circumvent the law, and consequently called on the Islamic Development Bank (IDB) not to release any of their funds until the due process is followed.

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'*% *¼ & , ¼ * +! &,?¼ *#A¼ '%* ¼ ¦&" ¼ / +¼ ¼ '& ½¼ ,!% ¼(* +! &,¼' ¼, ¼ ,!'& $¼ ++' ! ,!'&¼ ' ¼ ! *! &¼ ,- &,+?¼ B C>¼ ¼ '&, +, ¼, ¼$ +,¼ &- ¼ '-, ¼ + & ,'*! $¼ !+,*! ,¼ $ ,!'&¼/!, ¼ , ¼ '*% *¼ + & , ¼ (* +! &,?¼ *#?¼ '&¼ , ¼ ($ , '*%¼ ' ¼ , ¼ ¼ & ¼ $'+,¼ -,¼ , ¼ (( $¼ '-*,¼!&¼ #-* !¼!&¼!,+¼*-$!& ¼ '* * ¼ ¼* *-&¼' ¼, ¼ $ ,!'&>¼ ¼ $ !% ¼ ¼!+¼!&¼, ¼* ¼,'¼ $! * , ¼ , ¼ ( '($ ¼ *'%¼ , ¼ $ /+¼' ¼, ¼ ¼ & ¼ & ,'*¼ *#>

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$ %5 &$J5 5#$" $ # #5$ 5" #%# $ $ 5 #5 5 $ "5 5@ %$ 5" #$ & ##J5% ! @ $ ? 8 1 2 ;1 . 1

$ , -¼ , , ¼ '. *&% &,¼ & ¼ ! *! &¼ !(( *+E¼ '-& !$¼ +¼ '& $- ¼ ($ &+¼ ,'¼ * +-+ !, , ¼ , ¼ %'$!+ ¼

'+¼ &$ & ¼ '&, !& *¼ (',?¼!&¼¼ !( & ?¼ *#!&¼ !¼$' $¼ '. *&% &,¼ * ¼ ' ¼ , ¼ +, , ¼ ,'¼ ''+,¼ '%% * ! $¼ ,!.!,! +?¼ * , ¼ "' +¼ '(('*,-&!,1¼ & ¼ -* ¼ 1'-, ¼* +,!. & ++¼!&¼, ¼ '*, ¼ &,* $¼ '('$!,! $¼ '& > ª ¼ * $¼ !&!+,*1¼ ' ¼ ª* &+('*,¼ , *'- ¼ !,+¼ ! ¼ 0 -,!. ¼ ¦* ¼¼ *?¼ &$ & ¼ '&, !& *¼ (',?¼ *>¼ ¦ -&$ 1 ¼¦ -&+'$ ¼/ '¼/ +¼ !&¼ , ¼ , , ¼ '&¼ &¼ !&+( ,!'&¼ .!+!,¼ ,'¼ , ¼ (',?¼ (*'%!+ ¼ , ¼ !&!+,*1E+¼+-(('*,¼ '*¼, ¼

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&'¼ , , ¼ '-+ ¼ ' ¼ ++ % $1?¼ 1 +, * 1¼ $ * ¼ ¼ , * ½ 1¼ % * & 1¼ * #¼ ,'¼ %'-*&¼ '& ¼ ' ¼ !,+¼ % % *+?¼ / '¼ ( ++ ¼ / 1¼'&¼ª -*+ 1?¼, ¼ ( # *¼' ¼, ¼ , , ¼ ++ % $1?¼ $ "!¼ ½ ++ &¼ · !*-¼ -*-%¼ +¼+ ! > ¼ &¼, ¼+, , % &,?¼!++- ¼ 1¼ , ¼ !* ,'*¼ ' ¼ * ++¼ ,'¼ , ¼ ++ % $1?¼ $ "!¼· !*-¼·'#!?¼ !+ $'+ ¼ , ,¼ , ¼ , * ½ 1¼ %'-*&!& ¼ /'-$ ¼ '%% & ¼ *'%¼ *- *1¼55?¼5349> ¼ '* !& ¼,'¼, ¼+, , % &,?¼ , ¼ ( # *¼ (* 1 ¼ $%! ,1¼ $$ ¼,'¼ '* !. ¼, ¼ + ?¼ +¼/ $$¼ +¼, ¼ '*,!,- ¼,'¼ *¼ , ¼$'++> ¼ ,¼/'-$ ¼ ¼* $$ ¼, ,¼'&¼ ª -*+ 1?¼, ¼ , , ¼ ++ % $1¼ $'+,?¼ $ " "!¼ %!+-¼ ¼ -"!1 ?¼ % % *?¼ * (* + &,!& ¼ !&"! !¼ '&+,!,- & 1¼ -*!& ¼ ¼ *! ¼ !$$& ++>

+- ++ -$¼, # ¼'$¼¼' ¼ -+!& ++¼ ,!.!,! +¼ ,¼, ¼ (',>¼¼ ,¼ , ¼ . &,¼ / ! ¼ * /¼ $ , +¼ *'%¼ , ¼ * $¼ !&!+,*1¼ ' ¼ ª* &+('*,?¼ , ¼ ! *! &¼ !(( *+E¼ '-& !$?¼ , ¼ , , ¼ !&!+,*! +¼ ' ¼ & +¼ & ¼ -*. 1¼ +¼ / $$¼ +¼ '%% * ¼ %'& ¼ ', *+?¼ . *!'-+¼ +( # *+¼ ! $! , ¼ , ¼ !%('*, & ¼ ' ¼ , ¼ (',¼ &',¼ '&$1¼ ,'¼ , ¼ , , ¼ -,¼ , ¼ &,!* ¼ '*, ¼ &,* $¼* !'&> ª ¼ , , ¼ '%%!++!'& *¼ '*¼ & +¼ & ¼ -*. 1?¼ *>¼ +,-+¼ - &, *¼ &', ¼ , ,¼ !,¼ / +¼ & ++ *1¼ '*¼ , ¼ , , ¼ '. *&% &,¼ ,'¼ * +-+ !, , ¼ , ¼ (',¼ +¼ '!& ¼ +'¼ !+¼ !&¼ $!& ¼/!, ¼!,+¼* +'$. ¼,'¼ * , ¼

& $!& ¼ &.!*'&% &,¼ '*¼ (*!. , ¼ -+!& ++ +¼ ,'¼ , *!. ¼ & ¼ * , ¼ "' ¼ '(('*,-&!,! +¼ '*¼!,+¼ !,!2 &+> '* !& ¼ ,'¼ !%?¼ F ¼ "-+,¼ +¼ ¼ * ,* ,¼ / * ¼ / ¼ / * ¼ + &+!,!2 ¼ '&¼ / 1+¼ ' ¼ & * ,!& ¼ ?¼ , ¼ + *!'-+& ++¼ / ! ¼ , ¼ , , ¼ '. *&% &,¼ !. +¼, !+¼(*'" ,¼ + '/+¼ , ,¼ / ¼ /'&E,¼ * +,¼ '&¼ '-*¼ ' *+¼ ,!$$¼ , ¼ (*'" ,¼ , # +¼ '$¼¼ & ¼ (*'.! ¼ ¼ % &+¼ ' ¼ $!. $! '' ¼ '*¼ '-*¼ ( '($ >¼ ª ¼ *'" ,¼!+¼+'¼!%('*, &,¼,'¼ , ¼+, , ¼ '. *&% &,¼ & ¼'-*¼ '. *&'*¼/'-$ ¼+-(('*,¼!,¼,'¼ , ¼ & ¼F (* + &, ,!. ¼ ' ¼ , ¼ * $¼ !&!+,*1¼' ¼ª* &+('*,?¼

*>¼ ¦ -&$ 1 ¼ ¦ -&+'$ ¼ ?¼ F ¼ * ¼ * ¼ ,'¼ !&+( ,¼ & ¼ + ¼ , !& +¼ '*¼ '-*+ $. +?¼ .!+ ¼, ¼ !&!+,*1¼ '* !& $1¼ & ¼ ++!+,¼ , ¼ '%( &1¼ !&¼ , ¼ / 1¼ / ¼ &¼ +'¼, ,¼, ¼( '($ ¼' ¼, ¼ , , ¼ &¼ & ¼,¼ *'%¼!,>G $+'¼ +( #!& ¼ ,¼ , ¼ ' +!'&?¼ ¼ '*, ¼ &,* $¼ '& $¼ ''* !& ,'*?¼ ! *! &¼ !(( *+E¼ '-& !$?¼ ·( * '& ¼ $!¼ 0(* ++ ¼ '( ¼, ,¼, * ¼ * ¼ ('+!,!. ¼ !& ! ,!'&+¼ , ,¼ , ¼ (*'" ,¼ / ! ¼ / +¼ (-,¼ '&¼ '$ ¼ +!& ¼ 5347¼ / &¼ , ¼ '*% *¼ %!&!+,* ,!'&¼ !&¼ , ¼ , , ¼ '* * ¼ , ¼ %'$!,!'&¼ ' ¼, ¼(*'" ,¼+!, ¼F/!$$¼+ ¼, ¼ $! ,¼' ¼, ¼ 1>G

&/ !$ ?¼ , ¼ !*% &¼ ' ¼ -& &¼ *'-(¼ ' ¼ '%( &! +¼ / '+ ¼ '%( &1¼ !+¼ !&¼ * ¼ ' ¼ , ¼ (',?¼ ¼ +¼ ¶% *-¼ B*, C¼ / !$ ¼ ((* ! ,!& ¼ , ¼ $¼'*,+¼ ' ¼ , ¼ * $¼ & ¼ , , ¼ '. *&% &,+¼ !&¼ + !& ¼ , ¼ , # ¼'$¼¼' ¼, ¼ (',¼ ++-* ¼ , ,¼ -+!& ++¼ /!$$¼ , # ¼ '$¼ +''&> !+¼/'* +?¼Fª ¼ '+¼ &$ & ¼ '&, !& *?¼ !( & ¼ +¼ ¼$ & ¼ % ++¼ ' ¼ 66>:¼ , * +¼ /!, ¼ , ¼ ( !,1¼,'¼ & $ ¼58?¼333¼ ª ¶+¼ &&- $$1>¼ª ¼$ *+ !(¼ ' ¼ , ¼ $'& ¼ %!&!+,* ,!'&¼ +¼ %'&+,* , ¼ +,*'& ¼ +!* ¼,'¼ . ¼, !+¼ !$!,1¼, # ¼ '$¼¼ $¼ ,!. $1>

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',¼ $ ++¼ , &¼ 873¼ /'% &¼ & ¼ 1'-, +¼ . ¼ &¼ %('/ * ¼ $ +,¼ 1 *¼ -& *¼ , ¼ ,!'& $¼ !* ,'* , ¼ ' ¼ %($'1% &,¼ B C¼(*' * %% ¼!&¼· &'> ¼ , , ¼ ''* !& ,'*¼ ' ¼ , ¼ !* ,'* , ?¼ ¼ $ "!¼ $!1-¼ - # *?¼/ !$ ¼ 0 & !& ¼ .! /+¼ /!, ¼ & /+% &¼ '&¼ ,!.!,! +¼ ' ¼ , ¼ !* ,'* , ¼ !&¼· &'¼1 +, * 1?¼> !+ $'+ ¼ , ,¼ '-,¼ ' ¼ , ¼ &-% *?¼ &'¼ / *¼ , &¼ 63:¼ /'% &¼ & ¼ 1'-, +¼ & ¼ ¼ ¼ *'%¼ ¼ ,* !&!& ¼ (*' * %% ¼ ¼ !&¼ . *!'-+¼ +#!$$+¼ -*!& ¼ , ¼ ( *!' ¼-& *¼* .! /> ¼ $+'?¼ ¼ !+ $'+ ¼ , ,¼ , ¼ & 1¼ ¼ ,* !& ¼ 433¼ /'% &¼ & ¼ 1'-, +¼ !&¼ '+% ,'$' 1¼ & ¼ +¼ +,*!& !& ¼ -& *¼ !,+¼ &,* (* & -*+ !(H -+!& ++¼ ,* !&!& ¼(*' * %% > ¼ ª ¼ ,* !&!& ¼ (*' * %% ?¼ '* !& ¼ ,'¼ - # *¼¼ / +¼ '& - , ¼ ,/ &¼ (*!$¼ & ¼ (, % *¼ 5348¼

!& ¼, ,¼¼-& *¼, ¼*-* $¼ %($'1% &,¼ (*' * %% ?¼ , ¼ & 1¼ ¼ * *-!, ¼ 58¼ ( *+'&+¼ '*¼ , ¼ '%% * ! $¼ *%!& ¼,* !&!& ¼(*' * %% ¼ B ª C> ¼ !%!$ *$1?¼ ¼ + ! ?¼ , ¼ !* ,'* , ¼ ¼ ,* !& ¼ 48¼ * - , +¼ -& *¼ , ¼ * - , ¼ ¼ % &,¼ *' * %% > Fª ¼ * - , ¼ ¼ % &,¼

*' * %% ¼ !+¼ -& *¼ , ¼ ,* !&!& ¼ '*¼ $ '-*½ + ¼ /'*#+¼ (*' * %% ?¼ -*!& ¼ / ! ¼,* !& +¼/ * ¼ ¼ ¼ ,'¼ . *!'-+¼ %!&!+,*! +¼ & ¼ & ! +G?¼ ¼ 0($ !& > &¼ !,!'&?¼ ¼ !+ $'+ ¼ , ,¼ 83¼ ', *¼ 1'-, +¼ ( *,! !( , ¼ !&¼ , ¼ &.!*'&% &, $¼ -,! ¼ ,!'&¼ ª* !&!& ¼ *' * %% ¼ ' ¼ , ¼ !* ,'* , >

!$ ¼ #&'/$ !& ¼ , ,¼ 5348¼/!,& ++ ¼$ * ¼.'$-% ¼ ' ¼ ,!.!,! +¼ !&¼ (*' * %% ¼ $!. *1¼ & ¼ +-(('*,¼ + *.! +?¼ ¼ '/ . *?¼ $$ ¼ '&¼ -& %($'1 ¼ 1'-, +¼ !&¼ , ¼ +, , ¼ ,'¼ % # ¼ '(,!%-%¼ -+ ¼ ' ¼ , ¼ ,* !&!& ¼ , 1¼ )-!* ?¼ +'¼ +¼ ,'¼ & & ¼ , !*¼ +' !'½ '&'%! ¼ +, ,-+¼ !&¼, ¼+' ! ,1> ¼

" 5%" #5 5$ 5 % 5" #% $#5' $ %$5!" % . > 81 .2;11 2

'*% *¼ & , ¼ * +! &,?¼ .! ¼ *#?¼ 1 +, * 1¼ B ,-* 1C¼ $$ ¼ '&¼ , ¼ & ( & &,¼ ,!'& $¼ $ ,'* $¼ '%%!++!'&?¼ ?¼ ¼ ,'¼ $ * ¼ , ¼ * +-$,¼ ¼ ' ¼ , ¼ + & ,'*! $¼ * *-&¼ $ ,!'&¼ ,/ &¼ !%¼ & ¼ ¼ &! $¼ ¦&" ¼ /!, '-,¼ (* "- ! > *#¼ / '¼ % ¼ , ¼ $$¼ / !$ ¼ +,!& ¼ !+¼.', ¼ ,¼, ¼ ¦,-#('¼ $- ¼ ('$$!& ¼ -&!,?¼

+ ! ¼ ¼ 0( , ¼ ¼ * ¼ & ¼ !*¼ $ ,!'&> ¼ '%% & ¼¼ ¼ '*¼ !.!& ¼ '(('*,-&!,1¼ ,'¼ , '+ ¼ , ,¼* !+, * ¼ ,¼, ¼('$$!& ¼ -&!,¼,'¼.', ¼ & ¼ '& %& ¼ , ¼ !&,*' - ,!'&¼ ' ¼ .!'$ & ¼ !&,'¼ , ¼ ('$!,! +¼ ' ¼ &- ¼ '-, ¼ & ,'*! $¼ !+,*! ,> F ,¼ !+¼ +,* & ?¼ ¼ '& %&¼ !,¼ -+ ¼ !,¼ !+¼ $! &?¼ . *1¼ '% ¼ ( *+'&¼ + '-$ ¼ '& %&¼!,G?¼ ¼ > *#¼ + ¼ ¼ /'-$ ¼ /!&¼ , ¼ $ ,!'&>¼ ('!&,!& ¼ '-,¼ , ,¼ '% ¼ & ,!'&¼ ! ¼ , ,¼ $'& ¼ ,!% ¼ '>¼ ¼ ¼ ¼

+ ! ¼ '% ¼ ¼ * >¼ +¼ &¼ #&'/&¼ ,'¼ ¼ ¼ ¼ 2'& ¼ & ¼ * % *# ¼ , ,¼ !+,'*1¼ &&',¼ ¼ +!$1¼ & > ('*,+¼ * !& ¼ ¼!& ! , ¼ , ,¼ , * ¼ ( *+'&+¼ / * ¼¼ !&"-* ¼ ,¼ !!¼('$$!& ¼-&!,¼ !&¼ ¦# , ¼ / * ¼ ¼ ' ¼ ¦,-#('¼ $' $¼ '. *&% &,¼ * > ,¼ / +¼ , * ¼ , ,¼ (*' $ %¼ +, *, ¼ / &¼ , * ¼ / +¼ +,*- $ ¼ '*¼ , ¼ * $' ,!'&¼' ¼, ¼('$$!& ¼-&!,¼ $'+ ¼ ,'¼ , ,¼ ¼ ' ¼ , ¼ (-,1¼ '. *&'*?¼ & *¼ &+'&¼ '-&->

¼

'*% *¼ ¼ ' ¼ , , ?¼ * ,!* ¼ &>¼ » #- -¼ '/'&?¼ +¼ !&¼ -* ¼ ! *! &+¼ ,'¼ '&,!&- ¼ ,'¼ ¼ -&!, ¼ !&¼ +(!, ¼ ' ¼ , !*¼ * $! !'-+¼ '*¼ ('$!,! $¼ !$¼ * & +> F ! *! &+¼+ '-$ ¼ '&,!&- ¼ ,'¼ %-$ , ¼ , ¼ ( +,¼ $ *+E¼ , !& +¼ & ¼ &+-* ¼ , ,¼ , 1¼ (* + *. ¼ , ¼ '-&,*1¼ '*¼ , ¼ '%!& ¼ & * ,!'&?EE¼ ¼ + ! ¼ '&¼ ,-* 1¼ ,¼ , ¼ '$ &¼ - !$ ¼ $ * ,!'&¼ ' ¼ , ¼ * $¼ '. *&% &,¼ '$$ ?¼ '#','> F ,¼!+¼'&$1¼ 1¼+-+, !&!& ¼, ¼ ( +,¼$ *+E¼!&!,! ,!. +¼'&¼, ¼ & ¼ '*¼ -&!,1¼ ' ¼ ! *! &+¼ , ,¼ , ¼ & ,!'&¼ /!$$¼ ,¼ , ¼ +!* ¼ . $'(% &,> F¦-*¼( +,¼$ *+¼ & ¼ '* ½ , *+¼ !&!,! ,!. +E¼ !& ¼ '&¼ $!.!& ¼!&¼( ¼ & ¼ *%'&1¼ !** +( ,!. ¼ ' ¼ '-*¼ ('$!,! $?¼ , &! ¼'*¼* $! !'-+¼ !$¼ * & +> F '?¼ '-*¼ 1'-, +¼ + '-$ ¼ $/ 1+¼ %-$ , ¼, ¼ 0 %($ +¼ ' ¼ , '+ ¼ $ *+¼ / '¼ '- ,¼ '*¼ , ¼ '-&,*1E+¼ !& ( & & ?EE¼ ¼ > '/'&¼ $$ ¼ '&¼ 1'-, ¼ ,'¼ $/ 1+¼ & ¼ !&¼ . $'(% &, $¼ ,!.!,! +¼ , ,¼ /'-$ ¼ , # ¼ , ¼ '-&,*1¼ ,'¼ * , *¼ ! ,+> ª ¼ '*% *¼ ¼ ' ¼ , , ¼ (( $ ¼ ,'¼ ! *! &+¼ ,'¼ $/ 1+¼ (* 1¼ '*¼ , ¼ & ,!'&?¼ , ¼ $ *+¼ & ¼ '*¼ /'*$ ¼ ( > F ¼ /!$$¼ ¼ $ ¼ ,'¼ ,¼ ¼ ¼ *¼ +' ! ,1¼ & ¼ ¼ ¼ *¼ $ *+ !(¼!&¼, ¼ '-&,*1>EE ª ¼ !&!+, *¼' ¼ - ,!'&?¼ $ %¼ %-¼ %-?¼ / '¼/ +¼* (* + &, ¼ 1¼, ¼ !* ,'*?¼ -% &¼ +'-* +¼ & ¼ . $'(% &,¼ !&¼ , ¼ %!&!+,*1?¼ *¼ $$'¼¶% *?¼+ ! ¼ , ¼ * $¼ '. *&% &,¼ ¼ % ¼ $¼'*,+¼ ,'¼ * ('+!,!'&¼ , ¼ * $¼ '$$ +¼ *'++¼, ¼ '-&,*1>

J5 % $ 5 % $ 5! "$ "5 5

" 5 5 % $ 5 5 "$ " 5 " 1 ;1 8

ª

¼ ¶&!, ¼ ,!'&+¼ !$ * &E+¼ -& ¼ B¶ C¼ !&¼ '$$ '* ,!'&¼ /!, ¼ -$, &¼ '-& ,!'&¼ '*¼ ¼ & ¼ . $'(% &,¼ 1 +, * 1¼ % ,¼ /!, ¼ - ,!'&¼ * (* + &, ,!. +¼ ' ¼ , ¼ 4<¼ '*, *&¼ +, , +¼ ,'¼ * .! /¼ , ¼ - ,!'& $¼ + ,'*¼ !&¼ , ¼ * !'&>¼ ª ¼ %'. ¼ ¶ ¼ + ! ¼ !+¼ ( *,¼ ' ¼ !,+¼ '&,*! -,!'&¼ !&¼ . $'(!& ¼ , ¼ F !*$¼ !$ G¼ !&¼ ! *! ¼ +¼ ¼/ '$ ¼ & ¼, ¼ &'*, ¼!&¼( *,! -$ *>¼ $ *!& ¼ , ¼ % ,!& ¼ '( &?¼ , ¼ -$, &¼ ' ¼ '#','?¼ !+¼ %!& & ¼ E ¼ - # *¼ ¼/ '¼/ +¼ $+'¼ !*% &¼' ¼ , ¼' +!'&¼+,* ++ ¼, ¼& ¼ '*¼, ¼ !*$¼ !$ ¼,'¼ - , ¼ +¼ ¼ * )-!+!, ¼ '*¼ ,!'& $¼ . $'(% &,>¼ !+¼ /'* +?¼ F¶ ¼ & ¼ -$, &¼ '-& ,!'&¼ '*¼ ¼ & ¼ . $'(% &,¼ -& *+ '* +¼ , ¼ !%('*, & ¼ ' ¼ - ,!& ¼ , ¼ !*$+¼ & ¼ ,'¼ * %'. ¼ , ¼ ( * (,!'&+¼ , ,¼ , ¼($ ¼' ¼, ¼ !*$¼ !$ ¼!+¼!&¼ , ¼#!, &¼'*¼, ¼ '% > F ¼ $! . ¼ &¼ - , ¼ !*$¼ !+¼ ¼ *¼ !&¼ *!& !& ¼ -(¼ ¼ *¼ %!$1¼ & ¼ !,!2 &*1¼ ,'¼ , ¼ /'*$ ¼ -+ ¼ / ¼ $$¼ #&'/¼ , ¼ !%('*, & ¼ ' ¼ '-*¼ %', *+>¼¼ Fª 1¼,* !& ¼ & ¼ *'- ,¼ -+¼-(?¼! ¼1'-¼ #¼, ¼$! +,1$ ¼ ' ¼ &¼ !& !.! - $¼ ! ¼ !,+¼ '' ?¼ #¼, ¼ %!$1¼ # *'-& A¼ & ¼ ! ¼ ¼ #¼ , ¼ %!$1¼ # *'-& >¼ ª ¼ /'% &¼ ($ 1¼ , ,¼ !%('*, &,¼ *'$ ¼ ' ¼ *!& !& ¼-(¼, ¼+' ! ,1>

16

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NEWSWATCH TIMES POLITICS NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

Nigerians must give Buhari corruption –Sir Lanihun Ajayi INSIDE

FG faces first challenge from Labour pg. 12

Osun set to reposition political economy

Why I’m against Buhari’s policies –Religious leader pg. 13

pg.14

10

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

POLITICS

Nigerians must give Buhari time Elder statesman, Pa Olanihun Ajayi, is one of the few surviving close associates of the late sage, Peter Dada, Akure Chief Obafemi Awolowo. He is a foremost Yoruba leader, who is revered and, sometimes, consulted by leaders from other parts of the country. In this interview with PETER DADA, he spoke about the laudable moves so far made by President Muhammadu Buhari to move the nation forward. According to the respected elder statesman, Buhari needs time to carry out the war he is waging against corruption. He posited that many Nigerians in power in the past used their position to embezzle money and, fighting such powerful people may not be easy. Consequently, he said Buhari would be doing the nation a great service if he can see through the war against corruption. Excerpts:

S

ir, you know the dreams of the founding fathers of Nigeria. As a nation, would you say that we have been able to achieve those dreams? I don’t think so. I don’t think so at all. Because when Nigeria started as a sovereign state, our hope and expectation were that we are going to be one of the leading countries in the world. We perhaps will be laying examples in very many spheres of life. Unfortunately, we have not been able % % & after our independence, the soldiers intruded into our political life and brought a lot of terrible spanner into our political works. The consequences are what we are facing today, a life of ineptitude, corruption, unemployment etc. So, it is a fallen hope. We have not been able to realize all our hopes and aspirations since 1960. This is because the countries with which we started at that time, countries like Brazil, India or Soviet Union are far ahead of us today. What with the development of Brazil now, or even countries that were far behind us in 1960, like the oil

rich country in Central Africa where they had civil war for 17years. But now, within the last 3 or 4years, they have sat down, given thought to their weaknesses and their failures and how all these came about and of course, now, they are well focused and doing very well as a country. We are very far behind other countries. !" # $ % ! & % % " ' ! % ( & $ ) ! ( ) Well, our President, General Muhammadu Buhari has just started. ` moment. I think it will be fair for us to be patient with him and see how far he will go in this crusade. He seems to have started very well. I sincerely pray and hope that he will carry on and go the whole hog not minding whose ox is gored. I hope that he will not give room for anything like sacred cows. I believe so, because things has gone so bad, very bad that he has to clear the dirty table. I pray and sincerely pray for him to succeed, because he is going to face a lot of problems and obstacles because he would appear to

Unfortunately, we don’t have true federalism - to prop up true federalism on which our democracy prayerfully hope that before long and presumably in Buhari’s time; we are going to have true federalism

Ajayi

Our President, General Muhammadu Buhari, has

and hope that he will carry on and go the whole ! "

$ % & people, who have enriched themselves from the resources of the country. They have used their positions to steal so much of our wealth, that Buhari will be doing a lot of good for this country now and forever and ever, if we can go that were involved in the corruption and the ineptitude of our country. * + ( ( #! ! # ,+ ' % ! ! - ( . . % ) To begin with, I think it is correct to say that potentially, Nigeria is a great asset to Africa, just as it is, a big elephant, very big elephant in the continent of Africa. But somehow, Nigeria has failed in very many respects. I want to start with the fact that, we say we are a democracy, but then, all those things that make democracy thrives in our country are dying or malfunctioning. For example, we should have very strong institutions. We don’t have very strong institutions. We have strong men, big men like Obasanjo for example. He is a very strong person but theres nothing on record for him, which he has

achieved for this country. I don’t see it, we expected much more from him than what he left behind when he was leaving as our President. One of them is Lagos-Ibadan expressway or LagosAbeokuta expressway. All these are important roads. There is SagamuBenin road that was not were not @ I won’t say that stealing started in his time because he met stealing there. But the proportion of stealing in his time, going up to Jonathan’s time was absolutely incredible. We have not been doing very well at all. I tell you, we have gained independence since 1960, but we still have foreign buyers dictating the price of our products, and when their products come, it is they who dictate the price of their products. I remember sometime ago, a lady serving on a magazine asked the chairman of one of the world leaders a question he happens to be a Spanish man, a Professor. She asked that ; “Look here, you are talking of equity, democracy etc in the world, but then, why is it that you Europeans will dictate the price of African products and at the same time dictate the

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

11

POLITICS

to fight corruption –Sir Lanihun Ajayi Ditto for our census, we don’t have authentic census in Nigeria. When census is done again, there will be a good deal of manipulations, so that we don’t have true authentic census in Nigeria, just as our elections are riddled with rigging, crime, and so on and so forth

price of your products being sold to Africans?� Of course, the reply of the President was: “Well, you see, we are trying to help Africans. We are doing our best.� His answer was, of course, begging the question. So, and, of course, Nigeria cannot do anything about that. I am talking about the pillars of democracy, that we should have very strong institutions. We don’t have strong institutions. Look at our National Assembly, members of the National Assembly are self-seeking people. They are not as nationalistic as one would expect. Look at our executive arm of government. Our executive arm of government is not as responsive and responsible as they ought to be. Look at our Judiciary, the same thing. We don’t have very strong courageous powerful Judiciary. Look at our press, the same thing. Look at our Police Force, the same thing. So, our democracy here is still able to work properly and very well. Unfortunately, we don’t have true federalism, to prop up true federalism on which our democracy will stand & / % I prayerfully hope that before long and presumably in Buhari’s time; we are going to have true federalism. When we do have that, then Nigeria will be able to see quite clearly what is in front of it. But so far, no, we are a failure, I must be frank with you, we are a failure. You have been a lawyer for nearly 60years. What are your thoughts 2 ( % # % $ %!+ 3 %% ( %! ( court orders? Well, as far as tribunals are concerned in Nigeria, I feel a deep sense of shame and disappointment, because so far, there have been occasions and such occasions are very few and far between when we will hold elections and we would not go to the election tribunals. All our elections are contested. They all have to go to court. They all have to go to the tribunal, which is a pity. \ / % authentic census in Nigeria. When census is done again, there will be a good deal of manipulations, so that we don’t have true authentic census in Nigeria, just as our elections are riddled with rigging, crime and so on and so forth. Things that do not happen in civilized world today are happening here. Mark you, we’ve

been a sovereign state since 1960 and we have nothing to write home about our sovereignty. It’s a great pity.

' ! ( % . ! ( ( . - ( ) Disappointment and it is a shame when you refer to the reading culture of the younger generation. Our education is very poor indeed. As a & & ] example, if I were a governor of a state, I will make sure that all the teachers in my state are sent back to school to be retrained. Primary school teachers, secondary teachers, university teachers, should be retrained. And I tell you, if you take a sheet of paper, there is a page document; & & % & Recently, I read a document produced under the signature of Secretary to a ^ % * and I was disappointed to read that. The document contains some errors coming from the Secretary to the Government. I’ve read some papers from Registrars of Universities in respect of boys and girls whom I am helping. Such papers are full of errors, & % Well, where are we? So, that is why I said, if I had my way, all our teachers, primary school teachers, secondary school teachers and university teachers will be sent back to school, to be retrained. Yes. ' # ( % ) Well, I don’t know. I think somebody should do something about it. Somebody in a position to do so. 7 _ weaknesses in our educational system, our youths don’t read. They don’t read because they gather a lot from their telephone, television, internet, google, ] forth. When they do that, they think @ & / even have recourse to newspapers. They don’t read newspapers. So, they don’t read. It is a pity- a great pity. * + ' ! % $ % ) ¿ & Chief Obafemi Awolowo. Second, is, Nehru. My role models are those two great men. ! ' % ! % models? Haah, they are fantastic human beings. Awolowo was a very highly disciplined man. A man on whom you could rely. He was very good,

Ajayi

very thorough. He was a true patriotic Yoruba man. He lived and died for the welfare and well-being of not only Yoruba people but also and more importantly for the whole of Nigeria. That’s Awolowo. The same thing as Nehru. Nehru was exceedingly simple, very simple, very patriotic % & ] ` himself to the welfare and well-being of the Indians. I never met Nehru when he was alive, but you can know about Nehru, reading his books. Then, of course, about what he did towards achieving independence for the Indians. ! % ! . % . ) Well, my philosophy of life, one is: don’t leave till the evening what the

morning can accomplish. So, I don’t delay anything upon which I have laid my hands. There is no procrastination, so, that is one. Secondly, I try to be right with people. I try to be right with my fellow man. Even with my house boys or cooks or stewards, or even gardeners, I make sure am right with them. There is no treating them as if they were not human beings. I treat my boys, my cooks, my stewards and so on and so forth, as if they were my children, because, I cannot see & $ & children at all. So, I try to be fair, I try to be right with my fellow man, believing that, if am right with my fellow man, I will be right with God. Yes.

Recently, I read a document produced under the signature of Secretary to a State # was disappointed to read that. The document contained some errors and it was coming from the Secretary to the State Government. I’ve read some papers from Registrars of Universities in respect of boys and girls whom I am helping. Such papers are full of errors, written by Registrars of Universities

12

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

POLITICS

Buhari govt faces first challenge from Labour Duro Adeseko

F

or President Muhammadu Buhari government, the honeymoon is over. Last week, his administration tasted the stinging power of the Labour unions when leaders of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) called out their members to & $ In each of the 36 state capitals in Nigeria, there was protest and they were well publicised. What is more, the organised labour unions warned that it was a warning protest and that if nothing positive occurs in another two weeks, economic activities may be grounded throughout the country as ] & strike. Those close to the seat of power said late last week that the government is in dire strait on how to handle the situation. Questions are already popping up in government circles: Did the Minister for Mines, Housing and Works, Mr. Babatunde Raji Fashola informed the Federal Executive Council (FEC) before embarking and announcing such a far-reaching economic decision? What agreement has the Minister reached with the private investors now in charge of energy in Nigeria? Can anything be done quickly to appease the unions before the expiration of the two weeks ultimatum? Sources said what is compounding the situation is the absence of President Buhari who has since proceeded on a six- day leave and may not want to be disturbed. Vice President Yemi Osinbajo might be taking and work out a means of dousing tension. A source explained that: “Osinbajo and his well wishers see the challenge as a litmus test for the leadership quality of the Vice President in the absence of the President.â€? Consequently, a lot of contacts are being made to reach out to necessary stakeholders to douse the seemingly precarious situation because the federal government is determined to stop the unions from going ] the union threatened last week. What can government do to placate the unions within the next one week when the strike may commence? Can government claim that President Buhari has just returned from his six day leave and would require time to sort things out? Those opposed to such alibi by government pointed out that such excuse may not be tenable before the Nigerian public because government is a continuum and the absence of the president does not translate to mean that governance has come to a halt. What is the role of the Vice President who was acknowledged as the acting President in the absence of the President? Some are blaming the embarrassing situation government found itself on the person of Raji Fashola, the minister. His political opponents are quietly claiming that President Buhari would soon realise the mistake he made by giving Fashola so many responsibilities. Fashola, they pointed out, has never been friends of the poor. They alleged that Fashola cannot name a single masses oriented programme his government executed in eight years when he was on the saddle. His opponents said that it is the same spirit of having no empathy with the poor that has informed his decision to ] $ consultation. ` % $Ă @

Fashola

Buhari week when Fashola appeared before the

4 $ & % course of action that will enhance stability of power in the country. ` J & & stating that increase in cost of purchasing raw materials for power was among the $ = “Electricity is a product, it is made from raw materials, some of the raw materials are gas, some of the raw materials are power plants & $ not the single issue of price.� He also explained why the federal government privatized electricity. It was to get more private capital and ensure that investment in energy is where they ought to be. He said that government and electricity consumers should support the current step in the power sector by emboldening the & are producing power at the appropriate price. But Fashola’s explanation did not jell with critical stakeholders. The leadership of the unions said they were not pleased with the constant increase in electricity charges, especially because it has not relaxed the

mind of Nigerians, particularly the labour unions which include the Nigeria Labour Congress and the Trade Union Congress. The unions resorted to nationwide protests in state capitals last week to make their disenchantment known. Protesters % * & Ă‚ * holding placards with the inscriptions, ‘No & $/ Ăƒ! no payment’. The TUC President, Mr. Bala Kaigama, told reporters that the labour movement would continue with the protest against the $ ] % % Mr. Ayuba Wabba, Accused Mr. Fashola of conspiring with electricity companies to create the new price. He said, “We will not allow a situation where a few will collaborate, including our Minister of Power, Works and Housing, Mr. Babatubde Fashola; we are really disappointed because he did not even This protest is to tell the Discos and Gencos that we will not allow a situation where they _ ! + Expert in energy analysis explained that "Ă„ & $

The economy is in a desperate shape and ordinary Nigerians are groaning. Strong warning is coming loud and clear to government that if the situation is not carefully handled, the popularity it enjoyed eight months ago when it came to power may vanish overnight

$ 7 & Ă… Æ#Ă… many Nigerians, especially consumers paying with estimated bills. The Nigerian Electricity Regulatory Commission (NERC) had earlier stated that increase $ % % & customers’ satisfaction. But a large number of consumers, especially manufacturers, are calling on the Federal Government to provide prepaid meters for the people. According to the Minister, those under & !Æ" # ] 5 J Ç ; '!Æ" #ÂÇ 3 '!Ă†Ăˆ Ă… Ç '!Æ #ÉÇ ' !Æ É Ç X ĂŠ !Ă†Ăˆ !Æ #Ă„ Ă‹ ĂŒĂ‡ X ĂŠ !Æ# Æ !Æ "ÅÇ ] J ĂŠ !ÆÅ # !ÆÅ Ă‚#Ç 4 ` ĂŠ!Æ" ÉÅÇ 3] ' !Æ" ## ÆÄ ĂˆĂ‰Ă‡ ĂŠ!Æ ÆÄ !Æ" ĂˆĂ„ ] Æ 5 J Electricity Distribution Company will no & !Ăˆ#Æ ## % & month; instead, their charge will increase & !É #] @ Æ & 3] ] J 3 & \ Ă? & !ĂˆĂ„# ## @ & & !Ă…#] !Ă‚] & @ !Ă‚## ## !ĂˆĂ„# ## charges will be removed from Kaduna and Benin electricity consumers, while they will !Ă…Ă… #Ă„] !É Æ ] in their energy charges. The commercial Æ & 3 & !Ă…Ăˆ #Ă…# ## !ÆÆ Ă…"Ă… ##Ç & & !ÅÆ #Ă‚] !Ă… Ă„] The economy is in a desperate shape and ordinary Nigerians are groaning. Strong warning is coming loud and clear to government that if the situation is not carefully handled, the popularity it enjoyed eight months ago when it came to power may vanish overnight if ordinary Nigerians are convinced that the government is not properly taking care of its interest.

13

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

POLITICS

Osun set to reposition its political economy Michael Olanrewaju, Osogbo

T

he global economic downturn $ ' Nigeria is taking its toll on the 7 with these current economic realities ! U has resolved to come up with new strategies that would help % challenges while sustaining all its % ! 5 4 % Ă‹54 ĂŒ ] his 77th birthday celebration recently Æ !

$ & ] @ &

@ $ & $ U into a three day retreat and in a ĂŽ ] J U < ^ % 5 the government was compelled to review its programs with a view to % development programs within the & In the communique signed by the ' ' $ ^ % 5 J ^ & U& % internally generated revenues and drive investments to the state as vital The communique said the state is on % % “a competent and capable cabinetâ€? ' % ] J % % The communique said participants at the retreat recognized the urgent need to put in place clear action plans that among its peers in the country despite Highlighting the current global

economic hardship, the communiquĂŠ U * J participants noted that the dwindling $ government, including their business @ ĂŽ = >U

% % & % “The state has made massive investments in physical and human % & Æ#Ă… U unemployment rate in the country and % & U / Youth Empowerment Model and

7 _ ; ]/ Ă‹ 3

UĂŒ 5 4 % Ă‹54 ĂŒ ! 7 % & + ĂŽ Ă? 5 to delivering on its development % U ' % % = >@ humans in economic development must not be overlooked, so it is important to leverage on the human establish enterprises and create much % > "#Ă? to be productive and generate surplus value, we will generate enough % @ U 4 & Ă‹ U43ĂŒ % %

IGR by employing creative means to & / base and supporting + The communique It said that the state will reduce the % by strengthening / system and ensure compliance with International Public

5

It added that the

U entering will increase investments in the & % to medium term investments in agriculture, tourism, solid minerals, and strengthening the Public Private P a r t n e r s h i p ] ' Aregbesola based governance ] ]

\ % 5 %

%

However, it was agreed amongst the pundits that a radical departure that would make the state appear like a Brazilian model of the Lula era is desirable with deft political will to carry the programmes of activities to the letter

& argued that it would take a team & % @ & ĂŽ & administration in the state to work & & U & 7 < & since last year? However, it was agreed amongst the pundits that a radical departure that would make the state ] ; Ă? < & % ! % in repositioning the political economy % navigate into a sound economy that ] Ă? % &

We are committed to Nigerians’ transformation –Lagos PDP legislators Podo Sunday

I

n what look like a unanimous resolve by legislators elected 4 / \ 4 & Ă‹4\4ĂŒ < ` 5 & 7 ` % & & pledged their support to their / ĂŽ & ]

] Newswatch Times at a & UJ < Government PDP, to herald their

* ` U 5] UJ <^5 & Æ UJ thatPDP lawmakers would give their all- morally, technically and politically < make laws that would impact directly % & the state in all critical sectors in order J & & The lawmaker told Newswatch Times that he and his colleagues are mentally prepared and armed to the

teeth to deliver and even surpass & % ` @ J U UJ 7 & = > & invisible and indispensable and we would prove to the waiting world that Ăƒ &/ & ] & _ J

However, when this reporter asked ` U !5

; ] ] ` ] Dogara as trailblazers as against 54 / = > & sizeable PDP members we knew we ] % !5

we must succeed and move the nation ^ % vote, we could do it again and again�,

14

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

INTERVIEW

Why I’m against Buhari’s policies –Religious leader

The Founder of Celica Church of Christ (CCC) Ibadan, Right Reverend Emmanuel Adetunji Adeonigbagbe, is a religious leader with a difference. He was vehemently against the policy of Christian Association of Nigeria (CAN) when it’s President, Olusakin Babalola, Pastor Ayo Oritsajefor, aligned with politicians. Adeonigbagbe did not share the Ibadan view that the change mantra of President Muhammadu Buhari would bring any positive change to the country. He is also of the view that spiritual revolution is imminent, which will restore sanity to the country. He spoke with OLUSAKIN BABALOLA, in Ibadan. Excerpts:

T

he president of Ajagun Esin Consultative Forum, Professor Sabit Ariyo Olagoke recently accused religious leaders in the two major religions in Nigeria of not doing well in terms of nurturing your followers most . ' % ( #% 5 " you have to say to this? He is perfectly correct because it is our duty as spiritual leaders, to educate our members and correct some issues because all these people are under us, be you Christians or Muslims. But some people believe wealth could be acquired at any time and when any opportunity comes, they grab it. But as far as we are concerned in Celica, we follow the directive of the holy spirit. Some people went to schools for pastorate training while others because of unemployment venture into ministries where they can make fortunes. The third group are those genuinely called and anointed by Jesus Christ. They might not go to any theological school or University like late Apostle Ayo Babalola, Baba Pastor Samuel ; U $ ; U and others, but they were really called. That is why you see them calling their members to order whenever they are misbehaving with public funds. But today, the young pastors want to be rich like politicians and could go to any extent to realise that vision. Did you experience temptation from your congregation? Thank you. In 1980, a man came to me with a gift of Mercedec Benz car (Shagari type) with a draft of N5.6 Million. When I prayed over it, It was revealed to me that the money was not genuine; I returned both the money and the car. Thank God that till today, I am still comfortable without taking the money. All I know is that it is blessings of God that make one get the desire of one’s heart. There was a day I desired to eat “dodo� with bush meat, but I lacked money. A man who was coming to me from Benin said that he saw bush meat on the road and purchased it with red plantain in case I might like it. I did not tell him my needs. That was God’s blessing. Most of our prophets and pastors today are not bold to challenge members of their congregation when they are going astray. Some of them are in the same secret society with politicians. They can therefore not correct their sinful ways. Some of these evil politicians are even seniors of the pastors in their cult lives. How could they speak the truth to those politicians # ( $) It is not possible to train such politicians. It is when you train that you can teach people. It is then that you can change those bad politicians from their evil ways. But training should be by your own example as well. When you have a baby at home or a pet and your dog knows that you don’t like dirty things, the dog will not want to roughen that place. That is training not teaching. But when you teach, you say you must keep that place clean, he may do it and may not do it. What I am saying is that leaders must live by examples. Some pastors expect the congregation to ! . $ ( . ! ' ) That is not correct. People should pay tithe from the gains on the work which they did and which they sweated for. It is on the gains that you can bring tithe, not from the gift.

Adeonigbagbe

You claimed that you wrote General Sani # ' ' % (" ! write to correct former President Goodluck Jonathan when he was alleged to be misbehaving? I told them sometimes ago in 1992, that there should be a means of communication, that we should have a Spiritual Council. This will comprise leaders of Christians and Muslims at all levels. The members will not be on pay rolls of government because they are to work for God and the nation. If a leader emerged, he would not want to spoil

his name and that of his family. We religious leaders corrupt our leaders by telling them lies even when we knew that they are impoverishing the masses. Members of the spiritual Council will put the Government proposals to God either for a go- ahead or otherwise. But if members of the Spiritual Council are corrupt, they will not be able to speak the truth. My idea was rejected. Did you follow it up with the new government? Yes. When they wanted to do it now, they selected those people who are highly

Most of our prophets and pastors today are not bold to challenge members of their congregation, when they are going astray. Some of them are in the same secret society with politicians. They can therefore not correct their sinful ways. Some of these evil politicians are even seniors of the pastors in their cult lives. How could they speak the truth to those politicians?

educated. But education is not spiritual. After all, we have academics who can interpret but if I cannot speak queen English, the interpreter can handle that aspect. If I told you God’s revelations in my mother tongues, you can correctly interpret it. We need raw prophets and Imams who speak truth at all times and they are not Professors. But government will prefer the Primates and the Oritsajafor’s that are politicians. Most of them are betrayers to their callings. Could anything come out of them? They are operating in political churches where they trade in falsehood. During the last elections, many politicians came here and we told them the truth. ! ' against corruption and the change mantra of the present government? Is there a war against corruption? There is no war against corruption now in Nigeria. It is war against political party members who are opposed to the ruling party, the APC. If I am to advise Mr. President, I will counsel & of all wash all my dirty linens. I can then go out and wash others. That is how I will do it. What I do not want done in my church, I will ensure it is not done in my family. For &

because I do not like it in my Church. Are you alleging partiality in the execution of war against corruption? Exactly. The President himself is not a saint. Before he became President, he told us that he had 10 lean cows and a house. But now, we are looking at it, he has over 300cows. It seems you do not like our President as many Nigerians do? It is his ideology that I detest. Can you expatiate? I did not know him for once. I did not like how he insisted on becoming the President at all costs. I do not like anybody who wants power at all costs and by all means. He \ time he failed. He then said that he would not contest again. If I said I would not do something again, I would never go back to it. No. He agreed because he himself wanted power by all means. Look, anybody who &

corruption by all means. Those who you said prevailed on him to come at all costs would soon turn against him if he did not compromise. Those who are now his friends now would soon become his enemies. Mark my words. Did you care to send your views across to him? No, I did not. I did not because it will be ] _ & % that there is going to be a spiritual revolution in this country. ' %% # ) . ! 7 $ ) I cannot say when exactly when it will happen. But I know that whenever earthquake wanted to happen, it is God who knows. But as a Prophet of God, you are expected to guide the people? Yes. I have done enough via interface book, whatsapps, BB messanger and others. Writing them now is like as I said earlier, _

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·

21

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

Sunday Business

Dwindling economy: Adverse consequences of capital flight

Magu

Buhari

7KDW FDSLWDO Ă LJKW FUHDWHV LQVWDELOLW\ LQ DQ HFRQRP\ PLJKW MXVW EH D PLOG ZD\ RI DGGUHVVLQJ D K\GUD KHDGHG HFRQRPLF SUREOHP ,Q WKLV GLVFRXUVH )5,'$< (.(2%$ H[DPLQHV WKH HIIHFWV RI FDSLWDO Ă LJKW RQ WKH GRPHVWLF HFRQRP\ YLV D YLV WKH QHHG IRU DQ HIIHFWLYH FRQWURO RI FDSLWDO RXWĂ RZV Introduction % _ % & ^ \ 4 $ _ ^\4 ! ] % ^\4 ! % ^\4 ! $ % ! @ $ % _ 5 ' % % _ ! _ _

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% % _ Ă‹

Exchange rates as at 17/2/2016 Currency

Buying (NGN)

Central (NGN) Selling (NGN)

US DOLLAR

196

196.5

197

POUNDS STERLING

280.574

281.2898

282.0055

EURO

218.5008

219.0582

219.6156

SWISS FRANC

197.8799

198.3847

198.8894

YEN

1.7182

1.7226

1.727

CFA

0.3145

0.3245

0.3345

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273.3321

274.0294

274.7267

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30.0245

30.1016

30.1786

RIYAL

52.2458

52.379

52.5123

SDR

273.6748

274.373

275.0711

MONEY & CAPITAL

Asian stocks drop as bank concerns smoulder, Yen stands tall

_ % ĂŒ ĂŽ ' 7 Æ#ÅÆ 7 & Ă…# % % Æ##Ă…'#Ăˆ &' ĂŽ & ] %

Pg 25

‘ BUSINESS INTERVIEW

Sound financial reporting, corporate governance as economic panacea Pg. 24

&/ & _ % % _ % @ 7 & % @ & _ J % _ J % An expert position 5 ^ 7 & & % _ ' 5

% \ !] Ă? Ă? _ % & !] Ă? Ă? & _ & ] $ Continued on Page 22

xx NEWS BUSINESS

U.S. investors to invest in Nigeria’s food processing, mining sectors Pg.23 — Economist

22

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

BUSINESS COVER

Dwindling economy: Capital flight and its adverse consequences Continued from page 21

stock on living standards and poverty over the long term. He _ the annual rate of productive capital accumulation in subSaharan Africa by about one percent. Over time, those $ 7 _ % been 1.5 percent higher than it is and the poverty rate nearly 2 is. He posited that, if conventional measures of _ Ă‹ _ ĂŒ have had such large adverse impacts on African living standards, as these recent more have African countries _ governments and should not be treated as such? ^ 7 & report \ Æ#Ă…Ă„ ^ 7 & 7 7 \ % = Æ##"' Æ#Ă… % countries have continued to lose a massive amount of _ Ă‹ 77 ĂŒ @ ^7 & 77 from developing countries. @ _ % steadily to reach US$1.1 trillion Æ#Ă… 5

& É @ Ă…# & comprised slightly more than Æ _ % Æ#ÅÆ ^7 77 _ Æ##Ă…'Æ#Ă…# % _ amounted to around 56 percent _ U% _ from developing countries "ĂˆĂˆ Ă… Ă… Ă… Ă‚ registering a trend rate of ÅÆ

_ % # Ă„ Ă„Ă‚Ă„ Ă‚ Ă…

@ _ illicit capital increased faster than those of licit capital,

� & % @ _ & & _ % @ Bank’s governance indicators & @ & suggest that many developing % @

_ % % real economic variables such as government revenues, trade % savings. > % * & % _ % @ ] & to the fact that the channels 77 _ circuitous than in the case of _ + 3% $ _ % standards and poverty in the % & the recent studies are sobering. Accordingly, it is crucial to put in place policies designed to 77 _ % % !

market, some investors may have started to move their funds to alternative investment destinations, particularly to

5 countries. According to report generated locally last year, the % response to falling deposit rates ;! & policy rate currently stands at @ % & the quest for higher return on investment on cash and near

% ^ 5 Ă…" to the three per cent or even ! ] $ _ from the country further rose Ă… Ăˆ"# ]

There is an acute need to implement economic policies that can reinvigorate domestic investment E ! order to enhance economic growth in Nigeria

7 & ÅÆ % Ă… #ÉÅ ] 7 & Æ Ă… # Ă… March 5. @ crash of interest rates in the money market as customers are moving out their deposits. ; ] the crash of interest rates to the ;! % ! ## ] ;! % at one per cent interest rate as banks have refused to lend just as investors are holding back their investment decisions. @ % & & & of Nigerian residents buying % $' -|}# % 2 ( % $ % (! acquisition @ ! U* @ & 5 ĂŽ 4 Ă‹!U@54ĂŒ Æ#Ă…" !

!Ă…#

& _ through the importation of telecommunication-related technologies. @ !U@54 \ ' General, Prof. Umar Bindir, Nigeria’s economy in the past % & ÑÑ & & & Å## cent, of the technology required today in Nigeria are sourced from outside Nigeria. ÑÑ % %

& Î Ç % !Å# !Æ# going out of the country for the transfer of technology into the country. ÑÑ@ & = ' mini computer programme of simple to sophisticated levels, specialised electronic computer programmes, even the sea among others,’’ he said. Bindir said that the country had to get these technologies if it must meet the aspiration in global development of the telephony, television and radio. ` % _ J drain on the country’s foreign reserve. According to him, this necessitated agency’s intervention by seeking the collaboration of service providers and other ] ] & _ ; !U@54 ] service providers and other ] ' & \ challenge. He added that the Nigeria the regulator of the sector, vendors. Bindir said that all of these % % ' changed. Conclusion 5 fraud and internal malpractices

% % in the domestic economy, 3 % U* 7 ! Ă‹7 ĂŒ U Ă? > that you see are not just resting corporate governance code \ / & does not have capability for strong corporate governance _ %

% _ & _ _ >@ that all enterprises in that & $ consequence even if there are & % \ / ] + he added.

23

NEWSWATCH TIMES, SUNDAY, JFEBRUARY 21, 2016

BUSINESS NEWS

U.S. interests to invest in Nigeria’s food processing, mining sectors — Expert Friday Ekeoba

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U.S-based economist, Ms. Munat Roberts, says some United

% % ! % the food processing, mining, and health sectors. Roberts, who is the Chairperson, West Coast Economic Summit (WCES), ! 5 & ! % ] ] % opportunities in infrastructure % She said that the coming % $ % country. > % % ! around Feb/March/April. “We are expecting three % ! % “They (will) come into ! Ă‹ ĂŒ % % % & “One of them is interested in equipment leasing, food processing plants. “They are open to mining industry and they’re also open % and housing. “Another group is looking at building hospital and diagnostic centre. “The third group is also health-related but they want to go to rural health called `tele-

health.� % & not working will be sending oil from Singapore’s experience She explained that the third world. to Singapore.’’ by coming up with strategies % > ' + “That means countries like % that would transform the in the rural communities ! 7 ^ % & % & will diagnose patients using diagnostic machines. The chairperson said that the group would train indigenes to manage those systems and local nurses would be able to run the programme. % the aim of WCES was to act as % ! and women abroad.

Æ#Ă… of the Global Economic Summit coming up later in the year would hold in Singapore. The chairperson further said that the choice of Singapore was due to its mode of issuing % % “Singapore is an industrialised country and they were like us before but they are no longer a third L-R: Acting Head, Research, Mr. Muyiwa Oni; Deputy Chief Executive, Dr. Demola Shogunle and Chief world country. “We are using Singapore so { | } ( # $ # , ~& ( % $ "

! Standard Bank West Africa’s Investors Conference by Stanbic IBTC Bank in Lagos... recently. Photo: Bode Agbede learn from the speakers from there, how they got to where they are (and) they are willing to share that with us. “Singapore as a country is and that brought about the issue 5 % number one in the world as the history of any capital of Road Show where we meet the ' % % easiest place to do business. ] 5 % % % & X > % & “It is because of lack of KYC that ! them why they need to key into registered in a day in Singapore; & % ] ] % ' % ĂŽ ] ; ! so farâ€?. % & Ç & & Æ" successful > % % ' % % '\ % 4 & 4 are able to get to where they \ ^ % & ĂŽ % X % & are right now. and Exchange Commission 5 & % ÔÄ 4 “Singapore as a nation (SEC) Mounir Gwarzo made you do transactions you cannot doesn’t produce oil but they '\ % & % & ; what does not belong to themâ€?

Investors to receive dividends in 24 hours - SEC

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LafargeHolcim names Martin Kriegner Head of India

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orld’s building materials and cement producers, LafargeHolcim has named Martin Kriegner, head $ % Å Æ#Å according to the company in an emailed statement. LafargerHolcim says that Kriegner, currently area manager Central Europe will report to Eric Olsen, Group CEO and succeed ; @ % retire. Kriegner joined LafargeHolcim in ÅÉÉ# % & % seniour leadership positions in the Group, including CFO and CEO of the Group operations in Austria as well as head of Lafarge India and regional president Cement for Asia. He graduated from Vienna % & \ Law and obtained an MBA at the % & 3

Kriegner is an Austrian national. According to LafargeHolcim, the Group has a distribution network that extends across the entire country and continues to see opportunities to further build its business in India through the

] % Ă…## ###

retailers. ; @ % J ^ ÅÉÉ" Æ#ÅÆ He was responsible for Ambuja Cements and ACC in India since Æ#Ă…" India at LafargeHolcim following the merger. “The board of directors and % < ` ] ; @ % % ^ % Æ# & positioning of Ambuja Cements and ACC,â€? the world cement producer * It will be recall that the company * & ^ U & Ă…Ă„ Æ#Ă…Ă„ and announced key elements of its ambitions for the future, including % ! / & & and construction sector. Following the successful completion of the merger between Lafarge Group of France and Swiss company Holcim, the new Group is expected to work towards creating the highest performing company in the building materials industry, the company disclosed.

Sensitisation Town Hall Meeting in Lagos, recently. According to him, the proposed system will automatically allow % & into shareholders’ accounts within Æ" & & company. Gwarzo stated that this was one of % & Ă…# & ] 4 % to the market and thereby deepen the market. According to him “One of our strategy is to target the retail % & & deepen the market and ensure that the market is within our own grip % comes into the market. It is only the % the condition of the market, will & % experiencing in the market is the % & & % out of the market they get out and anything they want to come in they do so. Seeing what happens in the market, we decided that the best % our approach is not to go to them and be telling them to come back. “But our approach is to identify the issues why they are not in the market and deal with such issues. & & % is going to complain about not % we address some of these issues

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with this system, we are going to % ÔÅ & sell shares by today, payment are $ Æ" ] 5 ! ] 5 experienced that before and we are determined to ensure that it is % He said it was because of the % '\ % why the Commission decided on embark on the sensitisation Campaign on the need for them to ] & '\ % & % ] complete the process. @ \^ ' % & operational the issue of stale warrant will be of the past, the % to another to deposit the warrant will be a thing of the past; the issue of change of address will also be eliminated. >@ % which according to our records is in !Ă‚# thing of the past. These unclaimed % % ] ] you and me and we need to ensure that they are claimed. “The era of proceeds not being @ ' % ; ! % U ' % \

Gwarzo emphasised that the & & % back to the market is to ensure that concrete steps are taken to adequately address their concerns. > % % ] and that is why we are trying to % & & way to do that is to address some of these issues. >@ ; ! % '\ % will also enable us to implement % ] 7 ; ! % & ] operates in this market as an % % this system, so if anyone wants to defraud in this market, it cannot be 4

others as the platform will expose themâ€? He added. ] 3 % \ ] U @ ! ] 3 Ă‹! 3ĂŒ 5 ; J commended SEC in its quest to % & ! % ] due them in good time. “The SEC is willing to stand by their reputation. The message is ] ! the right processes to ensure that % & to. By this action, the Commission is ! going all out to do so in order to grow the marketâ€? He said.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

BUSINESS INTERVIEW

The Financial Reporting Council of Nigeria (FRC) recently organised a public hearing on the Draft National Code of Corporate Governance to promote transparency and accountability in financial reporting. In this interview, the Chief Executive Officer (CEO), Jim Obazee, explains the Council’s position at eradicating capital flight and the need for companies to follow best practices.

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hy is the Financial Reporting Council of Nigeria pushing for the National Code on Corporate Governance? When the World Bank carried its enquiry in 2004 on Nigeria reports on observers of standards and codes, it said Nigeria was using persuasive code and there $ & They are actually sectoral and ] & % the Central Bank of Nigeria (CBN) running one for the ] % National Insurance Commission is running for the insurance % by the Securities and Exchange Commission (SEC), which is 3 % one that is used by Pencom for pensions, then very recently, the Nigeria Communications Commission issued one, though & $ % Æ#Ă…Ăˆ @ & that our codes are persuasive, they also found out that it is imperative for Nigeria to have the Financial Reporting Council Act, where the Council will be in charge of corporate governance since they have been dealing In the wisdom of the sixth National Assembly, they introduced section in the FRC Act which says there should be a Directorate, and inside the Directorate there should be one % Then, they introduced Section 50 of the FRC Act, where they gave us the duty to develop principles of corporate governance and promote public awareness about corporate governance principles and @ & a section, where the Council shall have power to enforce that issuance of National Code on Corporate Governance is & % There is also need for guidelines should not be in _ Government also ensured that it must be private-sector led and that other government agencies The question is partially ; & & provisions in the proposed code that are frightening some people? From what we received so far, some interest groups that have & are saying why do you want joint audit? This is because the draft code is saying, if your turnover is

!Ă…# & market capitalisation is not less than N5 billion, you should have

Obazee

J For the auditors, if one of them one is an alien, the other one ! 5 ! % Our agenda is not only to generate employment for Nigerians, but to also ensure ! Every government agency must pursue an agenda that says that Nigerians being trained & & @ & % In which sector is the practice most rampant? Do you see it in the banking sector? It plays out in all sectors of the

& /

% to use corporate governance code % interested in your environment if they put money in your country and they are not able to discipline \ and internal malpractices, these practices are still prevalent in poor corporate governance? The malpractices that you see are not just resting on one leg, but we want corporate governance \ / country does not have capability

If a country does not have capability for strong corporate governance ! E ! E

for strong corporate governance _ % % _ & _ accounting rules, capital will _ The important thing is that all enterprises in that country will $ Î % & issues, and also deal with % \ / ] % , ( € % statements of banks to see how they comply with the Banks and Other Financial Institutions Act (BOFIA) and FRC Act. Are you still reviewing those accounts? We are looking at their compliance level, but the ! ] We never had a National Code ' ' never had a National Code for public entities like Ministries, Departments and Agencies (MDAs) of government and ' the private sector codes that we % \ / looking at accounts of Federal ^ % looking at accounts of Ministries, Departments and Agencies of government and government accounting is broken down % call Ministerial Funds, which are accounts maintained by Ministries, and they are largely 5 % asked them to move in to International Public Sector 5 5 The second one is proprietor funds, which is government reporting and operations are supposed to be similar to % @ to prepare their accounts using International Financial Reporting

Ă‹ 7 ĂŒ What are you going to do, if the MDAs do not comply with the IFRS account standard? ] for penalising government institutions that are to provide % $ government will take decisions removing the Chief Executive U* 7 U* or Finance Director because government will see it that either they are misreporting, or there is But for us, we are helping them & 5 & to us, and tell us areas where they have challenges, we will

Our interest is that they should & What are you likely to be looking out for in MDAs’ accounts? Are they the same thing you look out for in private companies? If you are reporting under IFRS & & of government, or a proprietary interest of government, we check the same thing as private entity because proprietary interest of government means that you are running the business of that & ] % & 5 & you are an agent of government & ; in a Ministerial form, which is & & reviewed using the International Public Sector Accounting Standards, which has slight % 7 If you are a state-owned entity, we will also be looking at it $ & < with the Accountant-General, then we held a brief discussion with him, and we said that it was important that the governor % 7 We looked at those who signed the account and we discovered that it is the Auditor-General and 5 '^ ! that of the Auditor-General is appropriate in the sense that we see the Auditor-General as the That of the AccountantGeneral is important because we 7U ; 5 U* à % ` ] responsibility, so he is supposed ; < They were the one that even invited us to discuss the issue of 5 these things are because of our % The CBN has been conducting stress tests on the banking sector, and the result is consistently ] ` % & ] the soundness or otherwise of it? @ ;! ; as we are concerned, we look at the weakness or otherwise will ; & statements, we cannot speak & 5 & ] J At that time, we will be speaking from our own % @ of the Central Bank is narrower because they are looking at & are looking at general purpose

25

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

MONEY/CAPITAL MARKET Asian stocks drop as bank concerns smoulder, Yen stands Stories by Friday Ekeoba

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sian stocks on Wednesday continued its decline on growing concerns about the health of the world’s banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.

pessimism to carry over into Europe, forecasting a slightly lower open for Britain’s FTSE .FTSE, Germany’s DAX .GDAXI and France’s CAC .FCHI. S&P 500 e-mini futures ESc1 fell 0.4 percent, suggesting another weak start on Wall Street. Japan’s Nikkei .N225, which tumbled more than 5 percent @ & $ session and slid to a 16-month low. The Nikkei was last down 4 percent with falling bank shares and a stronger yen continuing to take a toll on sentiment. The adoption of negative interest rates by the Bank of Japan has % has dropped more than 10 percent since the central bank’s surprise easing on Jan. 29. Australian stocks touched a 2-1/2year trough and MSCI’s broadest 5 '4 Japan .MIAPJ0000PUS fell 0.4 percent. The Chinese markets are closed this week for the Lunar New

Year holidays. Equity markets were struck early in the week by worries about the health of the euro zone banking sector, with very accommodative monetary policy seen crimping ] & repay debt. Trouble for equities has meant a boon for sovereign debt, with the Japanese government bond 10-year yield JP10YTN=JBTC dropping % on Tuesday before pulling back to 0.010 percent. The U.S. Treasury benchmark yield US10YT=RR stood near a one-year trough and the 10-year German bund yield DE10YT=RR was at its lowest in 10 months. The yen and Swiss franc, often ] turmoil, have also received strong boosts this week. The dollar traded at 114.60 yen JPY= after sinking to a 15-month low of 114.205 overnight. The greenback traded close to 0.9695 franc CHF=, a four-month low touched on Tuesday. “Concerns about European banks are contributing to the risk $ ] U.S. data this month has been ] 7 * be toning down on rate hikes,� said Shinichiro Kadota, chief FX strategist at Barclays in Japan.

SIEMENS hosts inaugural customer forum !"#"$"%&'()*+$, %-'./"%'(% /0&#.* ,#1!+$% !,+($," # "%2 3%#(%+ $%$($,)4%"$.+',

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iemens, one of the world’s &' * resource-saving technologies, has hosted its inaugural forum for Power and Gas Customers in Nigeria. Among the objectives of the forum includes emphasize Siemens’ long term focus on Public-Private Partnerships for the development of 4 4 Ă‹ 44 ĂŒ provision of its associated services for such development to Siemens customers. The forum also aimed to promote Siemens’ in-country service capabilities in the Oil and Gas, Utilities and Manufacturing

through delivery of turnkey captive/ Embedded Distributed Generation and LGT Power Plant solutions. Speakers at the Forum included: the Managing Director /Chief 3 % U* ! Mrs. Onyeche Tifase; Senior Vice 4 Ă‹5 ĂŒ AG, Mr. Andreas Pistauer; Chief 3 % U* 5Ă? 4 \ David Ladipo; General Manager – Power and Gas, Siemens Nigeria, Mr. Nasir Giwa; Head of Department – Financing, Advising and Structuring, Siemens AG Mr. Tobias Behringer, and Head of Service, Siemens Nigeria, Mr. Daniel Taylor. In her welcome address, Mrs. Tifase stated “Siemens has successfully delivered solutions for power generation, transmission and distribution for over 160 years across more than 190 countries. Our main objective here today is to determine how these solutions can be adapted to our peculiar situation here in

Nigeria. Given our 45 year history in Nigeria, most of you here know us well already. We will however use this opportunity to reintroduce and highlight core aspects of our portfolio that distinguish Siemens with regards & % * and competitive solutions through J % technology.â€? “Siemens strongly supports local content with a focus on closer J and Corporate Social Responsibility Ă‹ ĂŒ ] 5 Pistauer, Senior Vice President Sales Ă‹5 ĂŒ 5^ > % partnerships with Nigeria and are here to promote innovation through our local footprint. Our Port Harcourt U ' % ] & of how we are investing in delivering high-end after-sales services to clients $ advanced equipment.â€? The CEO Azura Power West Africa Ltd, Dr David Ladipo earlier in his remarks, gave an overview on the ground-breaking Azura-Edo 4 4 J Ă‹ 44ĂŒ and Siemens’ roles as both a longterm Engineering Procurement and Ă‹34 ĂŒ

7 Ă‹ 7 ĂŒ division. The Azura project is a 459MW open cycle gas turbine power station being developed near Benin City in Edo State and represents the Ă… Ă„## facility targeted to come on stream in 2018.

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Portland paints to list 1.98bn shares on NSE

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aint producer, Portland Paints and Products Nigeria Plc, has concluded plans to list its rights issue of 600,000,000 ordinary shares of 50 Kobo each at N3.30 per share on the basis of three new ordinary shares for every two ordinary shares _ ! ] 3 @ & sent to the NSE during the week said it has applied to the Nigerian

] 3 Ă‹! 3ĂŒ % dealing members of this development through its Stockbroker; Stanbic IBTC Stockbrokers Ltd. @ ĂŽ for the rights issue was February 9, 2016. It will be recall that as $ its presence in key sectors of the economy, UAC of Nigeria Plc, completed the

acquisition of 51 percent equity stake in Portland Paints and Products Plc. ! ] 3 NSE, UACN said the acquisition resulted in takeover of 204 million units of shares of Portland Paints at an acquisition price per share of N4.47. It stated that the acquisition followed a Memorandum of Understanding signed with the paint manufacturer on July, 2012, while the & on 28th June 2013. UAC of Nigeria Plc stated that it was convinced that the acquisition of a controlling interest in Portland Paints & Products Plc would deepen its presence within Nigeria’s decorative paints industry, adding that Portland Paints 5 !/ % and operations in the Nigeria’s real estate and

building materials sectors. 5 ! the proposed transaction was driven by potential synergies between the two companies, while saying that the move was in line with its strategy of building a portfolio of brands and businesses geared towards the growth of the Nigerian economy. “The transaction will allow Portland Paints to leverage the relative strengths of UACN and & to stakeholders in both companies. UACN and Portland Paints, with their established presence in the Nigerian paint industry, are uniquely positioned to partner on deepening the presence of both companies ] % scope and scale economies in procurement, production and distribution,� the company said.

Afrinvest makes key management appointments

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ealth advisory 5 % has announced the appointment of two % its management team. Victor Ndukauba takes on the role of Deputy Managing Director while Onoise Onaghinon has been named 3 % \ “These appointments are a _ % created in the company. We are dedicated to building a team that % & % and counsel to our clients. In some cases, that means making ] & ; from within, as this helps ensure

talent in the industry,� Afrinvest MD/CEO Ike Chioke, said. Working alongside the CEO, Ndukauba is tasked with % * & Afrinvest Group, providing strategic leadership and driving new business development initiatives. He commenced his career with the Corporate Finance business unit of PricewaterhouseCoopers Nigeria where he advised clients across various sectors. He thereafter joined the Financial Advisory practice in the Investment Banking Division of Afrinvest before heading up the / % Asset Management divisions.

The newly appointed 3 % \ U Ă…Ă„ & commercial and investment banking sectors. He joined the Corporate Finance Unit at SecTrust in 2003 and worked on several capital raising deals across various sectors including Telecommunications, Oil & Gas, Banking and Fast Moving Consumer Goods. “With a proven track record of success and a sterling reputation in the industry, Onoise is ĂŽ & ĂŽ investment banking division, maintaining high performance teams to achieve the investment objectives of our esteemed clients,â€? Chioke said.

26

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

MOTORING

FRIDAY EKEOBA bostonremy22@yahoo.com

Revised Subaru XV on sale from March

The best-selling mid-size SUV in Europe is a Volvo

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ubaru has revised the XV crossover, with an updated cabin, slight styling and economy tweaks and a new infotainment system. The updated model goes on sale in March and prices are unchanged – the 2.0-litre petrol manual in SE trim costs ÂŁ21,995 while the top-spec SE Premium diesel costs ÂŁ25,995. The 2.0-litre 150PS petrol engine has been revised slightly to improve economy – the CVT automatic version now has an * " Ă„ two per cent improvement. @ Æ #' Ă…"Ăˆ4

has been revised too, with an economy improvement of ÄÆ Å"Å Ú] & seem particularly impressive / to remember that the XV is & $ ' drive. The petrol engine is available with either a manual transmission or a Lineartronic CVT automatic, while the diesel is available with a manual transmission only. Inside, the revised Subaru XV has an updated dashboard with new, higher-quality materials

including piano black. There is Ăˆ #' system which incorporates navigation and smartphone connectivity, including Siri voice commands for those with an Apple iPhone. There is also an additional USB port ' reversing camera. Externally there are some subtle styling tweaks including new headlights, a new grille design, a new bumper design and a new rear spoiler. There are also two new colours – Hyper Blue and Dark Metallic – plus new alloy wheel designs.

olvo l has h posted a sales surprise for 2015 with XC60 emerging as Europe’s favourite midsize SUV. Seemingly overlooked throughout 2015 in a year full of É# % % ' nevertheless been proving popular in showrooms, with Volvo selling & ÅÄÉ Ă…Ăˆ & alone. Indeed, this is actually a sales record for the XC60 since its introduction in 2008 – and sales have also risen every year since launch, something almost unheard of in the normal lifecycle of a car. It’s also been Volvo’s best-selling vehicle of all since 2009. Of course, while it’s proving

popular in Europe, this isn’t the market that’s driving the bulk of sales growth. Rather, China and the United States are: they’re the leading two markets for the XC60, followed by Sweden. In Europe Volvo says it’s also doing well in Germany, the UK and France, helping the nine-year-old SUV top ĂˆĂ„# ### ] & European sales overall represent more than half of Volvo’s global sales. Æ#Ă…Ă„ & Volvo XC60 has led the mid-size SUV segment – in the same year that SUVs emerged as the most popular EU car segment of all. And if the ageing current car’s doing this well, imagine how successful an XC90-inspired all new one would be‌

Bentley Bentayga review: 2016 first drive

All-wheel drive Ferrari GTC4Lusso revealed

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7 ^@ " LUSSO says Ferrari “hails a major evolution of the sporting Grand Tourer concept by integrating rearwheel steering with four-wheel % + @ ^@ "< 7 77 @ ^@ "< ] 7 # ^@ ÆÔÆ # ^@ ĂŠ Enzo Ferrari’s favourites – and the ÆÄ# ^@ ; < represented a sublime combination of elegance and high performance. @ " / four seats. Essentially just a refreshed FF,

^@ "< / ÅÆ' & "Ă‚ ] Ă‚### Ă‰Ăˆ! Ă„ĂˆĂ„# Ă‚# % J Ă…ĂˆĂ„# @ 7 ^@ "< 7 / " 3% ' drive system which is integrated with rear-wheel steering for the @ > &' " ' Ă‹ ' % and steering) system which, based on yet another exclusive Prancing Horse patent, the latest evolution of Ă‹" #ĂŒ & now incorporates the electronic $ Ă‹3'\ $ĂŒ '3 + Improvements have been made

] ^@ "< a new grille that gets integrated air intakes and air vents on the wing that are reminiscent of those on the # ^@ / ' spoiler and a new triple-fence $ @ ] ^@ "< 77 replaces. U ^@ "< debuts Ferrari’s new Infotainment platform featuring a 10.25-inch HD screen with capacitive touch technology. The new steering wheel is more compact thanks to a smaller air bag and the integrated controls are allegedly “more ergonomic than % +

he Bentley Bentayga was inevitability from the at the 2012 Geneva Motor Show. SUVs are popular and ] Lack one and you’re missing out. So here in 2016 is the production version of that controversial concept. % & but it’s far more acceptable than the divisive EXP-9F: Bentley’s never made an SUV before and, with this, it’s given us a more sportily-styled one than most. Of course, it’s big: 5.1 metres long, around two metres wide and a ] Æ "

& % Ă‹ & ĂŒ comfort, rather than squeezing in seven. You don’t expect to get seven in a Mulsanne, so why here? It is a striking thing in the metal Ă‹ ' quarter-tonne weight saving over ĂŒ @ $ Ăƒ; &/ but the so-called side power line and bulging rear haunches really stand

out: add in an almost fastback-style rake to the rear for something way less boxy and brutal than we were expecting. It’s world’s apart from a Range Rover. Saying that, it’s a design that has the nobility you expect of a Bentley. A Range Rover has this too: a Range Rover Sport, arguably, does not. Features such as the shallow glass % ÆÆ' & Ë biggest ever on a Bentley) further aid the proportions and, in standout colours such as bright red or the gorgeous blue pictured here, it’s far more appealing than we ever dared hope back in 2012. Designer Sangyup < J ; & Æ#Å deliver the Bentayga, is a genius. �Å Å ÄÄ ; & says most won’t leave the Crewe factory with a price tag less than £200,000. There’s never been such an expensive, posh SUV before, giving Bentley no end of headaches in % % but also allowing it to claim it invents a new category: the luxury SUV.

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NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

PERSONAL FINANCE Money Talk

Value creation

By Kenneth Doghudje

Wealth & Wisdom

comfortably and securely, while the Mercedes on the other hand will do that, and in addition ensure that your image and reputation is further enhanced when you step out of the with automobile. Now both automobile brands are extremely successful Lanre ‘Inspirati’ Oyetade E-mail: money@moneytalkng.com, 08023122649 $ ] 08039428648 (SMS only) providing value in their niche. Kia provides value to the middle lanre.oyetade@mydailynewswatchng.com ankind is totally, comprehensively and thoroughly class and as such prices itself accordingly, while Mercedes % & % & caters to the upper class and provides products suited to the ! " —Dante % & high income earner. People must transport themselves around do or say is undertaken with a view to deriving and will continue to purchase these brands for the value they % ] provide them. is constantly on the lookout for ways and means to receive In order to imbibe the mantra of value creation in your % & % & ] & & & Author: Hauwa M. Audu in. ĂŠ ] ] Amyn The wealthy know this so they create products and services demographics etc. You must research extensively to know what Publisher: that provide value to the majority of consumers in their makes him/her tick. Investments Limited niche, thus producing wealth. Now this value created can U & & $ Date of Publication: 2005 be tangible or intangible as the case may be, but consumers against the information gathered at the research stage by Pages: 189 are willing to pay a good price to acquire these products and exposing the target audience to it. Let them have a feel of what Reviewer: Lanre Oyetade services thus making their promoters wealthy. & $ & ] ] The concept of value creation is of the utmost importance regards to it. Incorporate their suggestions into your products (08039428648) to anyone that seeks to build wealth and fortune because it and create something that meets their aspirations totally or as The book, which carries a foreword by the former is value that people pay for. Your wealth will be disguised closely as possible. Director-General of the in the form of opportunities, needs and problems prevalent Now that you have developed a customer-centric product Nigerian Stock Exchange, Dr. in society. Even though there are problems waiting to be & & % % $ the people. The likelihood of your promoting a unique product (Mrs.) Ndi Okereke-Onyiuke, to be adding value to the lives and wellbeing of the consumers without substitutes is extremely rare so you must compete with is divided into a total of 14 for them to be successful in the marketplace. other brands for the minds of your target audience to induce chapters; each dealing on a core Taking a quick audit of your possessions will immediately patronage. You must deploy robust media strategies. J expose you to the dynamics of living a value driven life. Why Finally, a customer-centric product can still fail in the did you buy the clothes in your wardrobe? What about the marketplace if it is not readily available when the consumer Audu hinges her write-up on reasons for purchasing that state of the art car? Or renting $ the philosophy that wealth can be created through a religious an apartment in that exclusive neighborhood? Value, value Customers will easily lose interest and switch over to the next adherence to “certain principlesâ€? which, according to her, and more value! In fact value permeates everything you do, & % $ % are universal since they work under all circumstances, “no because you are doing it to get something out of it for yourself. and accessible. ] + Whatever endeavor you are engaging in to grow wealth ] * % must be driven by value, pure and simple. It is not enough expression of the value they are creating in the marketplace. asserting that every Nigerian can indeed become a to have an idea; your ideas must be perceived as creating @ % ] % millionaire if they practise the all-time principles of wealth % & % cornerstone of yourevolving business and you will begin to creation, irrespective of their background, education or who desires into action and purchase your product or service. Âż they know. An excellent example of value creation can be found in the It therefore becomes her burden to put across these automobile industry. This industry creates products meant to Kenneth Doghudje is an expert in Marketing Communication principles and the result is the book. “If all Nigerians are be used for transportation from one point to the other with brands such as Mercedes, BMW, Ford, Hyundai, Kia and and Research, and is currently the Managing Director of taught these principles, and they put them to work, in no Chrysler, just to mention a few. Even though these brands GfK RT Nigeria Limited, the West African subsidiary of the time, poverty would be eradicated from the country, just as all create automobiles the value index for a Mercedes cannot GfK Group, the 4th largest market research company in the was the case in South Korea and Babylon,â€? she maintains. be compared to that of a Kia. It could thus be inferred that world. Doghudje is passionate about helping people achieve, One of the principles, says Audu, is that God owns the value of Kia is that it will take you to your destination ! !#(%!(9%$:.$$9%+ $#,%;(!(.#!&% '+$(+#!&"< everything you have; you are just a steward of His resources, stressing that if Nigerians know this, top government * rticle Writing: is kill people for money, or sell adulterated products for that a good income >5 ] earning business websites and a good the internet they must have valuable online and websites should have articles on their websites. as a result, mighty ocean, whereas no drop of water makes a mighty Ă&#x; ] % valuable content for visitors people who could write articles desert - If you do no set anything aside out of what you earn writing articles, books, and websites content is have a big opportunity to make in order for it to multiply in future, you will lack. Even ants poems and selling books mainly ARTICLES. Most money from the internet because know and apply this principle; they know there is no harvest everyday,â€? she states. and related materials. websites and blogs all have webmasters cannot do the huge job She insists that it doesn’t take a lot of money to make You can make alone. > ] & hundreds of DOLLARS of articles, reviews, sales Today, webmasters have therefore stressing the need to commence on a wealthrepeatedly monthly large websites with numerous pages creation programme early. writing simple articles visitors to read and digest As a Christian, she draws much inspiration from the Bible, online. The internet is a or help them to make articles or contents. In addition, making money sense for instance, from Pharaoh’s dream. big venue to earn big for money. many webmasters have hundreds of “Pharaoh’s dream is real, even in today’s world. Everyone those who can discover needs to allocate their income between their now and their However, for this kind of websites. it that way. In September website Even if some of these future, because the future will not take care of itself; it’s your owners to 2007 issue of the writer make money from their webmasters have the skill and ability responsibility to do so,â€? she contends. Chapter 1 deals with the causes of poverty, where she published an excellent websites, people have to to write articles, they cannot and = ' visit them. You and I visit will consider writing the articles shows a good understanding of the concept of exchanging freelancers which exposes websites on the internet themselves for various reasons, % & % & freelance writers making because we want certain rather, it to freelance writers to are laziness, foolishness, careless spending, drunkenness & % & $260,000 per year. Writing information, and over 95% execute the work for them from cheating and wastage. articles remain one of the of information on websites home. That is wisdom at least; they The other chapters deal with the ‘how’ of making money, easiest ways to make quick is usually in the form of will be able to spend their valuable & ] money online and the most articles. In fact, one of the time for other equally important % & amazing phenomenon $ % & assignment. debt, investment and taking advantage of privatization. * It is important to point out that this book is one of the very Now this publication exposes every single day. by using a method known you to lots of ways to earn DOLLARS few books by a Nigerian on the subject of Personal Finance. The purpose of as Article marketing. This writing simple articles and selling It thus has the strength of being ‘indigenous’ by taking into this publication is simply is by continually preparing them on the internet as many times cognizance the local environment and issues. The author is an associate member of the Institute of to expose people to how hundreds of articles and as possible. Your success in internet to earn a living through distributes them to free marketing and online money making Chartered Accountants of Nigeria (ICAN) and the Chartered writing and selling of article directories where $ ` % ] Institute of Stockbrokers (CIS). And perhaps she should be in a good position to articles online. It will they would be picked up by that it takes sometime to establish ' teach you the step-by- other webmasters to use as any kind of business. Don’t give up. 5 & % < step on how to get paid in contents on their websites, You will soon be smiling to the bank stockbrokers, which must have given her the opportunity to DOLLARS writing simple regularly. interact with and observe people’s dispositions on the issues articles and selling them removing the back link in HOT MARKET: sincerely, writers of wealth creation, management, and preservation. on the internet. 5 J _ & the articles. The internet is all Therefore, for through e-books and E-zines, articles, &' ' & ] & websites owners to draw one of the groups of people who will for the enthusiast.

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in various websites. The internet is simply about

Title: Can every Nigerian be a millionaire?

Guide to online income

and satisfy their visitors on

be wealthy in the information age are writers. Be part of the team.

Book Review

28

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

GLOBAL BUSINESS

Fed’s Yellen says global risks could pose threat to U.S. growth

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30

NEWSWATCH TIMES, SUNDAY, FEBRUARY 21, 2016

CUISINE Wines et al

Seafood like never before

Tayo Olanipekun

08032319698

tayo.olanipekun@mydailynewswatchng.com

Varriloff Vodka: A timely incursion

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Consider Iheanacho, others against Egypt, Chukwu tells Oliseh

Patrick Kluivert: Netherlands are in transition Pg 42

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Victor Enyinnaya

SPORTS

NEWSWATCH TIMES SUNDAY, FEBRUARY 21, 2016

ormer head coach of the Super Eagles, Christian Chukwu, has charged Sunday Oliseh to ensure that he invite young aggressive players that would defeat Egypt in the crucial 2017 Continued on page 43

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he impact of mother’s love and care in the life of a child is very important and Manchester City striker, Kelechi Iheanacho, says it would inspire him to play his heart out against Chelsea today in 3 75 According to the former Under-17 player, Continued from page 42

NEWSWATCH TIMES SUNDAY, FEBRUARY 21, 2016

42

Patrick Kluivert: Netherlands are in transition

SUNDAY INTERVIEW

P

atrick with Louis van atrick, Gaal as head coach and ! ( + - % € third at Brazil, but the team’s fortunes have dipped swiftly since your departures – to the extent of missing out on UEFA EURO 2016. What has gone wrong? It’s sad, because we had a very good World Cup in Brazil and everybody was really happy, but I don’t know what happened after that. It’s nearly the same group of players and now they’ve not even been able to qualify for the EURO. One possibility is that at the World Cup your motivation is at peak levels and we got good results from the start too. When you’re part of a team that’s playing well, you then demand even more of yourself. & ! noticed, in terms of what you’ve seen on the pitch? To me, it looks like they lacked experience. The players from the old guard have been fundamental all these years, but you have to & need young players at good clubs, who have the mentality and quality you need to play for the Netherlands. That’s important. We’ve got players who can be

decisive but they need more games under their belts and, until that happens, the burden can’t fall on them alone. You also have to have experienced players to guide those with less experience. Memphis Depay would appear to be one of those ‘decisive’ young players, though he’s struggling to nail down a starting berth at Manchester United. Why might that be? Memphis is a player with huge quality and that’s not something you lose, even at times like these. It’s simply a question of ] of your opportunities. He needs time to adapt to a new city and & & / & year and I think he will end up being a success. He’s a great player and will be important to the Netherlands’ future. At Brazil 2014 the Dutch squad was young too, but you and your coaching colleagues were able to make them tick. What was the key to that success? Tactics played a vital role. Traditionally the Netherlands have used a 4-3-3 system, but we changed to a 5-3-2. That gave us an extra player in defence to help with marking and one more in %

th the players immediately felt more co comfortable. That was the key. W We found balance in defence and g gave freedom to [Arjen] Robben

ê Í % 4 ] Turning back to Manchester U United and Van Gaal, what’s y your verdict on what they’re g going through right now? I know Louis really well, h he’s a coach who knows how to motivate young players in or order for them to bring their qu qualities to the team. When with th the Netherlands there was a lot of dialogue and the players all sh shared the same philosophy. It’s $ h he’s at a big club with players $ I think he needs to get to know th the best out of them. Obviously, at a club of that size, people want re results immediately, but it’s not & p place now and the coach is always a bad run. However, I think he’s g got so much quality and I hope he ca can turn the situation around. After the 2014 World Cup you to took the post of Curacao coach. C Can you tell us more about the ex experience? My mother is from there and I’d be been to the island several times, so it was a challenge that really ap appealed to me. It was a great p period, I had some real quality p players and we went far [Editor’s n note: reaching Round 3 of C CONCACAF Zone qualifying for R Russia 2018]. We did a very good jo job and the door hasn’t closed on co coaching them again. My priority is to coach a club side, but if it’s n not possible then I’d be delighted to work there for the Gold Cup Î Î What struck you the most ab about the CONCACAF Zone, a region whose football you didn’t know too well prior to your time with Curacao? / & $ Europe. The players are very talented, but the football’s based much more around intuition than tactics. I found it a very interesting learning experience

The Netherlands

It is said that great players are a blend of talent, instinct and intelligence and, when you close your eyes and remember Patrick Kluivert at his best, those very qualities certainly spring to mind. Quick outside the box and lethal inside it, the former Ajax and Barcelona striker was one of the biggest names in world football in the late 1990s and early 2000s. While the 39-year-old has long since hung up his boots, his thirst for success remains intact. The Amsterdam-born ex-Netherlands star is acquiring the experience to fuel his ambition of making a mark as a head coach. After impressing in an assistant coach’s role in the Dutch squad that Louis van Gaal guided to third at the 2014 FIFA World Cup Brazil™, as well as catching the eye in charge of Curacao during Russia 2018 qualifying, Kluivert spoke exclusively to FIFA.com on the Oranje’s recent travails, ex-club Barça and his personal goals for the future. because, what’s more, it’s hard to build a team when you only to get to work with the players for a few days. You have to try and get them to click together in a very short space of time and you can barely do tactical work, but the team responded well. Also in our favour was the fact the majority of my national-team players played in the Netherlands, and so had a shared style. What does the region’s football need to progress still further? In CONCACAF it’s a totally $ / something I like, but it is true that it’s missing the experience you get from taking part in the best leagues in the world. But the talent is there. Following your time with the Netherlands and then Curacao, what are you up to now? For the moment I’m working as a commentator for an international TV channel, but my ambition is to be the coach of a major team. Although I’m aware I have more to learn about the job, I’m looking for a good opportunity to prove my ability. Having worked with some of

the best bosses in world football, what kind of a club coach do you think you’ll be? ]' coach, but without neglecting the defensive side. One of the % $ players is that I can understand them fully at all times, because I’ve been in their position. As far as [tactical] systems go, I think that’ll depend on the players’ qualities because, in my opinion, the best formation is the one that makes them feel most comfortable. Finally, you were a fans’ favourite at Barcelona. How would you compare the team you played in and the current side? The current side is a machine! (laughs). Well, in my time we had a great team too, it was already a club packed with good players, with an impressive style of play. Top players have kept on coming to the team and nowadays they’re doing so in ever greater numbers. There are a lot of things that have changed in football in the years since, but Barcelona are still as impressive as ever.

NEWSWATCH TIMES SUNDAY, FEBRUARY 21 , 2016

43

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SPORTS/GOLF Tiger Woods Foundation might team up with PGA Tour

GolfWatch

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iger Woods got caught in the rain Ăˆ" made the cut on the number at Riviera. He withdrew the next day _ / ] @ 10 years ago. That’s not to suggest Riviera has seen the last of Woods. This will be the last year Northern Trust is the title sponsor at Riviera. Northern Trust ] % 7 3 & $ event in the New York area (formerly The Barclays), and Hyundai is leaving Kapalua to become title sponsor at Riviera. There have been discussions in recent months for the Tiger Woods Foundation to % % % & @ < Anaheim, and the foundation headquarters The foundation is the designated charity for the Quicken Loans National, and the Hero @ ; @ & @ U ] Æ##Ă… Æ#Ă… giving the foundation a local presence. Woods’ foundation also is primary charity \ ; ] Deutsche Bank is not expected to renew its sponsorship after this year. The announcement about Hyundai becoming title sponsor at Riviera starting in 2017 did not include what the tournament will be called, and any discussions about / % % expected to progress until after this year’s Northern Trust Open. Woods has played in all of his foundation events when healthy, and that’s another part of the equation. He has not played since August, has gone through two more back enough to start practicing, much less playing. Woods made it clear last December, though, that he wants to get healthy to play again. & 4^5 @ % Riviera as a 16-year-old amateur. He speaks highly of Riviera, without any great success on the course. His best result was a tie for ÅÉÉÉ ` % top 20 when completing the tournament.

08023113110

gboladada@yahoo.com

Ghana golfers vow to shine at West African Golf Tour ...As Korblah leads 25 to Abuja

Emos Korblah

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hana golfers to the proposed West African Golf Tour, billed for February 25 in Abuja, have vowed to make the best out of the competition. Ghana will present a strong contingent of 25 professional golfers of the 120 players for the inaugural edition of West African Golf Tour $ 5 J 7 & ÆÄ The Ghanaians will parade household names like Emos Korblah, Kojo Barnini, Vincent Torgah and JJ Harvey. ` % ! editions of the event is to be held, will dominate the professional sheet with 72 registered golfers. Gift Willy, Dominic Andrew, Sunday Olapade, Mohammed Liman, Lateef Lasisi and Oche Odoh are some regular Nigerian

players that will contend for the prize money Ă„# ### Ă‹ ! ĂŽ % ;! ĂŒ % ;; ^ & Ă…Ăˆ players from the neigbouring country, to be led by Ebela Mvondo Desire, will be competing at the 72 holes tournament. Ebela will aim to use the West African Tour as a platform to activate his rivalry with Odoh, who beat him by four strokes at the 3E Actuaries Equatorial Guinea Open \ year. @ ^ % & @ ^ Senegal, Kenya and Spain are also some of the countries billed to compete at the tournament.

Spectator stand, leaderboards fitted for West African Golf Tour

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Tiger

ll the details that will deliver a memorable experience for spectators at the maiden West African Golf @ % ;; ^ & 5 J The central theme is the installation of a stand on the golf course that will conveniently % "Ä# & % $ 7 & ÆÄ ;; commissioned in 1992. The stand is erected at the relocated hole 18 at what used to be Hole 9 for the purpose of the 5 @ club’s upper terrace, providing a panoramic view of the creek and the driving range. & reversed as the back-nine will now play as the front, while the front-nine will be converted to The President of the West African Tour,

3 ] U] & ;; % play. 5 % & & (Thursday) mounted on strategic holes on the course to update the players and spectators on @ " É 12, 16 and 18, The tournament is an invitational event that Æ#" golfers from the east, west and central African regions. @ % days for the prize purse of $50,000 or its Naira ĂŽ % ;! % ] while the amateur players will play over two days. Fifty of the 120 professionals that begin the tournament will make the weekend cut while Ă‚" & $ 7 & Ă†Ăˆ "Æ

South Africa’s Top 100 Golf Courses now available

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he annual Golf Digest Top 100 is on the shelves from February 22, 2016. Golf Digest has been at the forefront of ranking South African golf courses since the late 1990s and the 2016 biennial ranking, brought to you by BMW, has delivered plenty of surprises. “This year’s Golf Digest Top 100 J ] ' up of positions, more so than any previous ranking,â€? says Golf Digest Editor Stuart McLean. “Several changes have occurred within the Top 10, and there are a total of nine new entries – the highest of which came in at 21.â€? "Ă„ Ă‚ went down and eight stayed in Æ#Ă…" @ ; Ă‹ % separate regions) always ensures lively debate amongst readers and interestingly, this year, two ninehole courses made the list. The rankings are based on course evaluations by more than 100 volunteer panel members throughout South Africa. A course needs a minimum of 20 evaluations over the past three years to be eligible for the Top 100. The panel members score courses on seven criteria: Shot Values, Playability, Resistance to Scoring, Aesthetics, Design Variety, Memorability and worth 20 points while the other six categories are worth 10 points each. not considered for rating purposes as it’s all about the golf course, not the service levels. 5 < = >@ "' feature includes spectacular images from golf course photographers, Grant Leversha and Jamie Thom. Once again we feature The Next 50 ] Ă…#Ă… 150. The issue also features a tribute to the recently closed King David ^ @ + The Golf Digest Top 100 issue is on sale from 22 February at most major retail, bookstore and sport store outlets. Retail price is R38.00.

45

NEWSWATCH TIMES SUNDAY, FEBRUARY 21, 2016

POLO/SPORTS

MTN/Lagos’2016 Polo: All eyes on Majekodunmi Cup

T Players of Kano Fas Agro Sacks team with Kano Polo Club Chairman, Alhaji Bashir Dantata (middle). Team patron, Murtala Dankaka with the cup show off their Ade Alakija Cup won at the recently concluded Ibadan annual polo tournament.

Ibadan Polo’2016: Dankaka glitters in Ade Alakija Cup victory Ekpenyong Ekpenyong

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ne of the biggest revelations of the just concluded Ibadan’2016 International Polo tournament was the unveiling of a latest polo patron from the ancient city of Kano, Murtala Dankaka who upstaged the apple cast, to win one of the Ibadan biggest polo titles, the Ade Alakija Cup on first attempt. Dankaka and his Kano Fas Agro Sacks team has been in Nigerian polo circle only three years ago, are making quite a name for themselves and anybody who chooses to underrate their resolves to make a name for themselves in noble game of polo, would do so at his own peril. Last year, they defeated their highly rated local rivals, Kano Nakudu to win the glittering MRS, their first ever major title in front of their teeming supporters, and barely a year after, they have added their first major outside their Bompai polo based. If that MRS win was seen as a fluke, their stomping defeat of four better experience oppositions to win the Ade Alakija in Ibadan, has further confirm Dankaka and Kano Fas Agro Sacks warriors as a force to look out for in the highly competitive low-goal polo in Nigeria. “We were completely ignored as jokers because we were JJC in Ibadan. Nobody gave us a chance to win anything this year because this was our first ever outing in Ibadan,

but now the table has turn and it will remain so for a long time,� declared the elated Fas Agro patron. “Winning one of the biggest titles, the Ade Alakija Cup and adding the HST Cup both on first attempts in a fiercely contested tournament like this, is not easy� “I am so proud of our players and our fans, particularly my step mother and my brothers, Mojeed and Rasheed, for giving us these important results that would definitely spurs us to greater height us in the years to come,� Dankaka added. The long hitting polo patron who was introduced to the king of games by his friend, Danmasani, dedicated the Ibadan crown to his father Alhaji Hamisu and his mother Hajia Dankaka, noting that without their support he would not have thought of joining the Kano Polo Club let alone playing far away from home. Dankaka who is currently jostling for Dansa Cup title at the ongoing Lagos international polo tournament, was left beaming following his team’s emphatic victory in Ibadan that put him up there alongside the likes of Engineer Sanni Umar and his Susplan team that has proved his pedigree at various tournament across the country. “It was my first major victory since I started playing tournament polo and in front of our passionate Ibadan supporters, so I am really happy for my teammates, for everybody. I really enjoyed it.� Dankaka said his Fas Agro Sacks team will work hard to make

the home advantage count and get the desired result during the forthcoming Kano’2016 International Polo Tournament billed for later in the year. “We are putting everything in place to ensure we are 100 per cent ready for the tournament and our target is to add another major title to the MRS Cup we won some three years ago.� “The players have been responsive to our match plan and after the Lagos tournament, we are commencing preparations immediately. “Of course, we needed a starting win in Ibadan to further boost the players’ confidence going into other competitions. It will be a huge advantage playing at home right there before your supporters in Kano. It further boosts and motivates the players, and we are looking forward to another big victory. Only two weeks ago, the ancient city of Ibadan in Oyo, celebrated one of its grandest moments at the the prestigious Ibadan’2016 Polo Tournament, which came to colourful climax, with host Ibadan snapping a six years old jinx, to win the event biggest prize, the Ibadan Cup. While Lagos Marina defeated Ibadan Challenge in a tense Rotimi Cup final to win the medium-goal title, Murtala Dankaka and his Fas Agro Sacks were the leading lights for Kano contingent that has turned the Eleyele Polo Ground to their second home, having dominated the Ibadan tournament for years.

raging in Lagos as MTN-powered _ & tonight. Jostling in the 122 year old international polo festival which entered its second week < % % Kano and Ibadan to share the crumbs of the Dansa and Lagos Open cup titles. ` < ] @ J Ăš & of three super charge teams from Kano and Kaduna in the Majekodunmi Cup rumble. @ % & % & times champions, Fifth Chukker/Access Bank, former Kano Titans and the highly X X * 4 & Revered as one of the most wanted polo crowns in the continent, the Majekodunmi Cup that has been contested for in Lagos for over 60 years, pitch arch rivals in a & & the champions of MTN/ Lagos ‘2016 international polo festival. The opening game of the Majekodunmi Cup billed for Wednesday, saw the crack Lagos Ironclad/Trojan face visiting Kano Titans in a make or mar clash, while former champions, Fifth Chukker/ AccessBank team X X * 4 & in the second game of the high stake Majek Cup on Thursday this week. The Low Cup see eight Lagos teams contest with two teams from Kano and solitary entry from Ibadan in a three streams rumble that for Sunday, 17. @ < J ] &

' goal cup will come face to face in a titanic contest that will all the hallmarks that the MTN/Lagos polo is revered for. The 2016 MTN Lagos International Polo Tournament took to a scintillating start ten days ago at the Ribadu Road Lagos Polo Club in Ikoyi with two Kano based teams securing morale boosting victories over their Lagos counterparts. @ X @ ] _& < 4 ' ` ÅÆ'" for the Dansa Cup. The victory was the spur X & _ < @ % Ú ÅÆ'"ÅÚÆ open Cup opener. The last match of the opening day was U & % < % 5 ] 4 ]' ' ] ' ] $ & ; Makanjuela who tapped in a sudden death goal from an Hendricks Leroux’s forty yarder, to give his Caverton side the winner.

NEWSWATCH TIMES SUNDAY, FEBRUARY 21, 2016

46

SPORTS UPDATE

Europe was always my dream, says Dike

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Egypt recalls 43-year-old goalkeeper for Nigeria E

gypt have recalled veteran goalkeeper, Essam El Hadary, for a warm-up against Burkina Faso ahead of next month’s 57 U! !

Awoniyi shines on league debut

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igeria youth international, Taiwo Awoniyi, debuted for his German Bundesliga 2 side FSV Frankfurt on Friday as they defeated hosts St.Pauli 3-1. Before his debut,the 18-year-old striker has been an unused sub in six league matches for his club. The Liverpool loanee dazzled and almost celebrated a goal-scoring league debut only to be denied twice by the goalkeeper. Awoniyi, who has been capped by Nigeria at U17, U20 and U23 levels, _ defenders and he lasted for 89th & Gerezgiher. ` but missed by a whisker. The lanky striker was denied a goal in the 38th minute by the goalkeeper, who made a big save. Two minutes later, he was denied again by the goalkeeper in a one-on-one situation. Frankfurt are now 14th on the 18-team Bundesliga 2 league table with 26 points from 22 matches.

Awoniyi

The 43-year-old Hadary was last involved with the Pharaohs in 2014 and he has come in for injured Ahly star Sherif Ekramy. @ ' & ` Cuper and comes on the back of his outstanding performances for Egyptian Premier league club Wadi Degla The former Ahly, Zamalek and Ismaily star El-Hadary played a key

role in guiding Egypt to winning three % 57 U! Æ## Æ##Â and 2010. He last appeared with the seven-time African champions in November 2014 when the Pharaohs lost 1-2 to Tunisia in 5 Î coach Shawky Gharib. Egypt will host Burkina Faso on February 27 in Alexandria.

ussian club, Amkar Perm’s new signing, Bright Dike, says & dream to play in Europe come true, saying it has always been his wish to test himself in European football. The big striker has played all his _& Canada. He has now signed a contract for a year and a half with Amkar Perm as a free agent after he impressed on trials there. “I am happy with the deal. I have always wanted to play European football, and now I have the chance with Amkar Perm,� the Nigeria international striker told AfricanFootball.com “I will do my best and give everything I have to the team and hopefully by the grace of God I will be rewarded with goals.� \ ] quickly at his new club with the help ! 7 U they have already met up at the Eagles training camp previously. “It’s always great to have a good friend already in a team who can show you around,� said Dike.

TP Mazembe win third CAF Super Cup

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ive-time African champions, TP Mazembe of DR Congo, yesterday clinched a third CAF Super Cup when they defeated Tunisia’s Etoile du Sahel 2-1 in Lubumbashi. Mazembe have previously won this prestigious annual match-up between the winners of the Champions League and the Confederation Cup in 2010 and 2011. Etoile, who won the 2015 Confederation Cup, have also won the 23-year-old competition twice. Ghanaian striker Daniel Nii Adjei opened scoring for Mazembe after 20 minutes when $ X from the left beyond goalkeeper Aymen Mathlouthi. The impressive 27-year-old Adjei doubled his tally in the 45th minute, when he acrobatically $ % & ]

& ] ; However, the Tunisian ‘Red Devils’ pulled ] Mohamed Msekni, who stabbed home from inside the box after a goalmouth scramble. In a game played under hot and humid conditions, Msekni led Etoile to chase the game after Mazembe took the lead when he Tunisia international striker Ahmed Akaichi also came close minutes earlier, but Ivory Coast international goalkeeper Sylvain Gbohouo combined with his defenders to In the 42nd minute, Bolingi saw his shot from outside the box narrowly miss the target. Mazembe towering defender Salif Coulibaly in the 58th minute as his team piled on the pressure to increase their tally.

Heartland’s Ajunwa keen to make mark

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nyebuchi Ajunwa is one of the new players in the Nigeria Professional Football League (NPFL) and already hopes to hit the ground running with Heartland this season. The striker is not afraid to set himself a target, and has told supersport.com that he wants to score at least 15 league goals for the Naze Millionaires this term. The last time any player from the U Ă…Ă„ ! '_ Æ & & 17 goals to set a new individual scoring record in 1990. 5J & Ă…Ă„' ] since 1990. The striker is also eager to see Heartland compete for the title. “My target is to score 15 goals for Heartland,â€? the new Heartland number 33 told supersport.com on the eve of the commencement of the new NPFL season. “I’m well prepared for the season, and

Dike

help my team do well and possibly contest for the title.� The forward also took time to talk about joining the Naze Millionaires, and is ready to learn from his new and experienced teammates in his debut season. ` ] 5J U ano Pillars have failed to Football Academy after the striker put clear Giwa FC stars ,Charles Henlong, Amos Gyang and & $' Chris Madaki for the new Ajunwa is available for selection as Heartland play hosts to Warri Wolves at season. 5 4 * the Dan Anyiam Stadium this Sunday.

Pillars fail to clear Giwa stars

X

Ajunwa

even though both players are still training with them and have agreed personal terms with their club, the league has not cleared them to move because they still have a year left on their contracts with Giwa. Giwa have maintained they are not ready to sell the players and they expect the players to respect their contracts. Last season, Pillars failed to sign U ] UJ % & agreed personal terms with the Nigeria U20 goalkeeper.

NEWSWATCH TIMES SUNDAY, FEBRUARY 21, 2016

47

SPORTS UPDATE

Omeruo enjoying loan spell in Turkey C

helsea defender, Kenneth Omeruo, hopes his loan spell at Kasimpasa in Turkey may earn him an international recall with Nigeria. Omeruo is on a season-long loan deal from the English Premier league club where he is yet to make his competitive debut. @ ÆÆ'& ' % uninterrupted game time in Turkey which he hopes will reignite his international career under Sunday Oliseh. The only way I can earn a recall is to continue doing well with Kasimpasa and keep my place in the team “The only way I can earn a recall is to continue doing well with Kasimpasa and keep my place in the team,â€? Omeruo, one of Chelsea’s 32 players out on loan across Europe, told BBC Sport. “Injury has had a negative impact on my run with the Super Eagles and I would love to get back to playing for my country again. > & J ] $ pitch, I don’t want to look too far ahead,â€? the 2013 Nations Cup winner added. U & ! in January 2013 and he went on to play at that year’s Africa Cup of Nations and Confederations Cup - and at the 2014 World Cup. The centre-back has had a frustrating club career, spending last term on loan at Championship side Middlesbrough where a loss of form meant he lost his place and was

down the pecking order. But the player says he is thriving at Kasimpasa and is revelling in playing regular football again. “I am enjoying it very much and the experience is great so far. “It has been good to get involved with a competitive club like Kasimpasa who are ranked among the best defensive sides in the Super Lig.â€? With a run of 17 appearances for the Istanbul U % % club career and he is happy with how he is @ && 3 Ă­ Stadium. “I am enjoying my football playing every week and you just try to work hard and improve,â€? he said. “Expectations are high because I come from a Premier League club, and every game you need to be switched on.â€? 5 Omeruo’s renaissance that the club are now exploring the option to buy him at the end of the loan. He joined Chelsea from Belgian side Standard Liege in 2012 and developed on loan at ADO Den Haag in Netherlands in an 18-month spell from 2012 to 2013. U Ă…" loan spell at Boro after joining in January 2014 and returned for the whole of 2014/15 season where he made 22 appearances.

Arsenal frustrated by dogged Hull

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olders Arsenal’s long unbeaten run in the FA Cup continued but they were frustrated by stubborn Championship leaders Hull City on Saturday, drawing #'# & ' 3 ates Stadium. Arsene Wenger’s side piled on late & the massed ranks of Hull’s defence and will need a replay in their quest to be win the competition three years in a row. Despite overwhelming possession, the closest Arsenal came to breaking the deadlock was Joel Campbell’s free kick that was tipped against the post by Hull’s 3 ] % @ also denied by the inspired goalkeeper. With one eye on Tuesday’s Champions

< Å Barcelona, Arsenal made nine changes from the team who beat Leicester City last week to move to within two points of the top of the Premier League. But promotion-chasing Hull went one ] Å# ' up from last week’s draw with Brighton and Hove Albion. Both Wenger and opposite number Steve Bruce face an unwanted replay, though, after a frustrating afternoon. Later on Saturday Watford face Leeds United, Reading host West Bromwich Albion and Bournemouth play Everton &/ & '_ Chelsea host Manchester City and Tottenham Hotspur face Crystal Palace on Sunday. Third tier Shrewsbury Town entertain Manchester United on Monday.

FIFA rejects transparent voting booths

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IFA has rejected a demand from a presidential candidate to use transparent voting booths at next week’s election to ensure delegates do not photograph their ballot papers when they choose the head of soccer’s world ruling body. The request came from Prince Ali Bin Al Hussein of Jordan, who said he would take his case to the Court of Arbitration for Sport (CAS), sport’s highest tribunal. Prince Ali wanted to ensure that transparent booths were used at the February 26 election “to safeguard the full transparency of the electoral proceedings�, he said in a statement released by his French-based lawyer. FIFA’s 209 member national associations (FAs) each hold one vote at the election where 4 5 % 4 ; who is banned for eight years amid a graft scandal that has shaken soccer’s global governing body. Under Fifa statutes, voting is secret. The statement said Domenico Scala, head 7 /

Prince Ali in correspondence that the voters could produce evidence of their vote by using a mobile phone.

Prince Ali Bin Al-Hussein

I am proud of you,IBB tells Tijjani Babangida

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ormer Nigerian President, Ibrahim Babangida, has again hailed the contributions of one of the country’s football stars, Tijjani Babangida, saying he is proud of what the former Ajax Amsterdam % $ the pitch. Babangida the football star was a special guest at the Inter House Sports of President Babangida’s school, Al Amin International School in Minna. President Babangida and another former Nigerian Head of State, Abdulsalam Abubakar, had a private audience with Tijjani on Friday ahead of the sports event. “I was truly humbled with what the two former Presidents said of me when I met them. They said they are very

proud of me and so are other Nigerians,� Babangida the football star said. Incidentally, Tijjani Babangida got his big break in football when he featured for Niger Tornadoes of Minna, where he was nicknamed ‘J5’ because of his blistering pace. It was from this club that he played for Nigeria U23 team and later moved to Europe, where he will play for the famous Ajax Amsterdam. He also played in China and Saudi Arabia. He featured at the 1998 World Cup in France, scoring a goal in the Round of 16 game against Denmark. Since his retirement from the game, he has tried to give back to the community with laudable projects in Sokoto and Taraba States.

Tijani Babangida with Ibrahim Babangida

Newswatch Times -Tradition built on Truth

www.mynewswatchtimesng.com

Vol. 2 No. 7

SUNDAY

February 21, 2016

LAST WORD

...with

N200

PAT UTOMI dinachi2005@yahoo.com

It’s on record SHORTEST STUNTMAN Kiran Shah of the UK, born September 28, 1956, was the shortest professional standing at 1m 26.3cm (4ft 1.7in) when measured on October 20, 2003.

Numbed by overload of the unsavoury

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fter 40 years of active engagement in the Public Sphere in Nigeria, I have seen and heard enough to understand why someone can say Nigeria is ‘unshockable’. But the reports 37 ] Security cash for elections ATM which & * & collapse of culture have managed to leave ; has not been scratched and that we could get used to this despicable state as the new normal. Can anyone stay sane living with insanity or can insanity as the new norm make the asylum desirable? Quo Vadis. Where do we go from here? Surely the revelations, from BVN outing people who receive salaries 20 times a month makes it clear that the challenge is systemic as was indicated many years ago when Kempe Ronald Hope Snr. and Bornwell Chikulo edited the book; Corruption and Development in Africa. They had pointed out in the introduction the range of the culture of corruption in Africa, from rare, in Botswana, to widespread, in Ghana, and systemic, in Nigeria. So, knowledge of how deeply rooted corruption has been in Nigeria and how debilitating of prospects for progress in the country those practices are, have been around for a long time. They have become so a part of many people’s ways it is hard for them to see shame as a consequence. Indeed, one of the tragedies of the Nigerian condition is both the death and the dearth of a sense of shame. So where do we go from the current wave of hot news on who is implicated here or there if they do not feel any shame and can readily use excuses of how the % public sympathy and accusation of those prosecuting the campaign as vindictive and % ' % ] & desire for vengeance on old enemies? The

] credibility of a war that is badly needed to uproot a cancer in metastasis which is eating away at the soul of Nigeria. What must we do to the structure of the campaign to ensure that it stays credible and that we restore to Nigeria a sense of shame? There are many who repeat the clichĂŠ that & ] Some of that will surely be going on, but the ] % way as a result of how the war against corruption is prosecuted. The emphasis & &/ $ & ] many are still continuing in old ways with J & @ %

heard of managers and executives of parastatals quarreling about who is cornering sources of craft $ $ ministers from paths of ‘action’ have truly made me wonder what will truly put fear in people so they can do right with public trust. It seems to me that & that will ensure a reduction in discretionary courses of action relative to public resources is critical. The TSA is an example of such but it needs to be managed such that it does not $ % of the system. The ' in this age of technology enabled action there are

Those featured in the media get a halo effect and the status this confers leads to who, people look up to and how the people act. Media needs to blank out people whose source of wealth is not clear and celebrate people with a work ethic

made famous by such academics as Kaplan and Norton are useful tools, but the ultimate tool has to be a Values Revolution and campaign examples of which we have seen in the past. They may sometimes not have $ % like War Against Indiscipline (WAI), Kick Against Indiscipline (KAI) are required to raise sensitivity to challenges in culture. To make them of lasting value, they have to empower the institutions of socialization to raise the level of the sense of shame for failing to play at the level of the norms of conduct the campaign promotes. I have often referred to the key to South Korea’s \ % & & related to how the culture entrenched shame for not doing right in the people. from about a year ago when school pupils on excursion lost their lives when the ferry they were travelling in sank. The sequence of response would prove to be lessons in consequence management and how culture sets the tone of performance. The shame of the responsibility for deciding in favour of the trip led the Vice Principal of the school to commit suicide. Not that I will ever recommend suicide as the path of response to shame, but it was instructive. This was followed by the resignation of the Transport Minister. The President had to make a humiliating apology on Television as part of the parade of shame. But in Nigeria, in a case where direct culpability could be established for dozens of graduates losing their lives in stampedes at several stadia enough applications and across the country, no one resigned. None enterprise systems that make sincerely expressed remorse and there were it easy to remotely monitor no consequences. transactions. This is made A moral rearmament campaign which is % $ % an imperative of these times has to make strong place is given to open ` and transparent processes a very important role to play. If the media and citizen stakeholder _ & _ monitoring of the policy is manifested is in what researchers call; the choice and implementation status conferral function of the media. Those processes. It is indeed $ painful that with advances the status this confers leads to who people in management systems in look up to and how the Those featured in which the Knowing-Doing $ Gap and an execution this confers leads to who people look up premium can easily be to and how the people act. Media needs to derived from a number of blank out people whose source of wealth is proprietary templates we are not clear and celebrate people with a work still grasping for sustainable ethicpeople act. Media needs to blank out proactive systems. Many of people whose source of wealth is not clear these templates which have and celebrate people with a work ethic. been deployed in the private sector have been used by Pat Utomi, Political Economist and government agencies in many professor of Entrepreneurship, is founder parts of the world. These of the CVL profoma methodologies

FACTS FILE Nigeria has 70% of the ECOWAS economy, 30 % of the economy of sub-Saharan Africa and 21% of Africa’s economy.

On 12 September 1947, Ajasin was appointed Principal of Imade College, Owo, where he initiated an aggressive staff development program, including sending teachers to University College, Ibadan for further training. In 1951 he wrote a paper that was to become the educational policy of the Action Group, a party that advocated free education at all levels

In Japan, it is customary for golfers who’ve hit a hole-in-one to throw a celebration for their closest companions, though this can also be as simple as buying them all a celebratory gift. Nearly four million Japanese golfers carry golf insurance, paying a $65 premium every year for $3500 in coverage.

Printed and Published by NEWSWATCH TIMES LTD. Head Office: 159/161, Broad Street, Lagos. Tel: 0709-850-4488 (Newsroom) Abuja Office: NICON HOUSE, 1st & 3rd Floors, Central Business District, Abuja. Advert Hot-line: 0709-882-1624 Editor: OLANREWAJU OYETADE (08039428648 - SMS only)

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