DAY ww w. bu s ID css d ayo nlin t.co m
NEWS YOU CAN TRUST
200-unit First Home Estate enters martet with mortgage fucility
Dongote Sugar realigns stralegy amid (o,,-!pelifion
p. 26
Govt to build Reports expose culture abuse two emergency plants in defunct IBPLC, Oceanic inpower Lagos
• Observers question Akingbola's roles in deals
_-A! PHilLIP ISAKPA
bout Ulree years
....
afll~ r
1hab-!fI by the ~ and eq:oswe 01 a 0Ji1llJ'll! faq)oxate ~ abuses by ftJSJJI'! blnkeu In the blS· ness. a number sIgni8canr <b;:u.
or
~ lin dl:taBspeciflcC8S1C50Ch0w
d'lfl aI:Aftes\W!recanied outhiM! now - - . " , ......... Doy. Thedocumcnlssbowspcdflcand gmphic C8SIC5 oIlmpuniry and a pasIIml ofbehaviour that mirror globally c:elct.ntcdfmudaJSeSsumasthoset:J BemantMildo(lhefh .. dct whoopernted • .!II:heme that bier turnI!d OUI
10 be Ihe biggest fraud in the hisrofyof
the UniIrd SCafes. and Fred Goodwin, former Royal nank of 5a:Jd;md dtief t!XeClItM. who led the bank to col· lapsr. ~ it 10 ~ the Imp ~balIoutfn the Uniled Kingdom. Both men suIien:d .seYereIy &om their roles in the
-"""-
Bul the documenlS now In the possession of BuslnessDay show that questk:Ins wiD ~ be a9zd about I,\ilether an the perpetralOlS of these iICl!I have fully answered for their actions. established In imemat and e%1ema1 audits, as weU lIS forensk reporu thai &how what had gone Continues on Page ..
JOSHUA BASSEY, PATRICK ATUANYA & PYEMOAFEGO
e Federal Go~mmenl on Monday said it would build ~ emergency power plants In Lagos 10 ~ adequate JlOW':f supply In the stale Pre5ident Goodluc:k Jonathan saki !his al the opening of the 6th Lagos Economic Swnmil tagged,
TI
.. Ehingbct.l2012' ••
Jonathan also pledged the resolYe or the Federal Government 10 pa~ state governmenlS and the privale sector IOWards sustainable powu/energy development, in what he beIleves would ga}vani3e the eoxxxnic and Industrial growth
ofthecuuooy. The preside nt. n:presenled by
0IU5C:gW1 Agansa. Min1steI'oCTrade
Adams 0shlom1Oie (r). governor. Edo State, with Adewunml Ade:sIna, mlnistef of agnculture and rural development. al the one-da'l Agribusrness and In¥eSlmdl'll Summrt Ofgltmsed by the Edo State government In Benin Cil'l. yesterday
and Inw:sIment. at the Swnmit wilb thetheme, ~ 8R1CSI08RINCS: L.agos Hokill ibe Key': wbIch commerad at the au Hold and SuiIeS, abo 5laIed the delerminadon of hls administratio n 10 pursue ilS tmns· formarion agenda 10 full realisuion, with focus on power; transportation and agriculture. a5 key areas. He said plans were abo in placz 10 build a worki-dassttlfTIll1Odityer:dmnge. in onIet'lOencouragefmoestmeI1linawiculturethrougheff1Cient pricing of agriruInual commodities and higher incomes 10 fanners. 1he president noted thai given the OI!fllmlity of J...asos 10 the overall economk: prosperity of NIgeria. his adminisIrntion was paying particu. lar attmOOn 10 the Slale, in ImnS of ~ generation. ard in this regan1. plans wereongoing 10 raievelop ~ Con1ill~ 011
Page ..
ic plan includes marketing corporation to help farmers on ~~ The~UXI"'''''''V.tlkiI
v.'en:ora:a~whidebrfann
.!CJ'tIIpPed.~nmtdidncxreplace
!hem. 1e!Mng iI vacuum In the value
en, faded away with the coumry's
dWnofthc furmproducedlslrilJutlon
dwindUng agricuIWle fommrs AkinwunmJ Adesina. minister- of Agricul!we wld Rural ~x:m. who dIsdo!ed Ihis II a one-d3y Edo Sme. Agribusiness ~ Summit. noted d\al when the boanis \WIt!
S)"iIem in thewunDy. TIle Is n:necled
In"'"
importadononrioe.1hisI5UXllmSllO the SI8 bi1HDn Malaysia and Thailand
earn from palm
and rice respectNely, yearly. Nigeria n:mains the v.utd'1I ~ \mportef or rice, while agricullure iHlCOU11ts rar 1'1 n~ I
toe; noting Ihat with !he deYeIopmenI. Nigaia\\O.lld beaJ*:toaJfl1pl!twtlb muntries like Ghana. fo.ury Coa:st and
Cameroun.whichrum!J1lly~simI
Jar insdllltions in their COUIlIJies and ~ ~outputsclfann produce
'"'" ~Cocoa -~
me also tall on the Issue of ContitUleS Oil ~.,
12.88H8