20th oct 2014 by Newtelegraphonline

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, October 20, 2014

Vol. 1 No. 244

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N150

Two banks fail CBN’s capital adequacy test

lNon-performing loans hit N400.57bn Abdulwahab Isa Abuja

wo banks have failed to meet the stipulated Capital

Adequacy Ratio (CAR) of 10 per cent, New Telegraph has learnt. Consequently, the Central Bank of Nigeria (CBN) has directed management of two lenders whose CAR

fell below threshold as at end of August 2014 to recapitalise. The two banks, whose identities were not disclosed by the apex bank, have been put under close

monitoring for compliance. CBN Deputy Governor (Economic Policy), Dr. Sarah Alade, disclosed this to bank chiefs last Thursday at the Bankers’ Commit-

12 pwagYeosrk

tee meeting in Abuja, where she presented the latest report on state of the economy and banking sector. Nigeria joined oth-

o f N e es Tim inside

CONTINUED ON PAGE 6

Don’t trust Boko Haram lSenator cautions FG on ceasefire lHow New Telegraph broke story }5

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER Wednesday, September 17, 2014

IN POLITICS AND BUSINESS

Vol. 1 No. 211

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FG loses N17.9bn as strike hits fuel exports,

lTota l resum es $2.5bn Nigeria n oil

Adeola Yusuf

il workers in the services of the Nigerian National Petroleum Corporation (NNPC) made

good their threat to begin a strike yesterday, grounding activities of the corporation at crude export terminals and fuel loading gantries.

The NNPC, which is responsible for 57 per cent of the total crude exports and 20 per cent of the 40 million litres of fuel consumed daily in the country,

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field sale

lost a total of N17.8885 billion on the first day of the industrial action. While a total of N1.9 billion is lost on loading of 20 million litres per day, being

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the NNPC's 50 per cent of the 40 million litres daily consumption in Nigeria, a total of about N15. 9885 billion ($106.59 million) is lost

Jonathan meets with Boko Haram leaders lThe secret nego CONTINUED ON PAGE 2

tiation in Chad

GMD, NNPC

Quick Read Editorial The Lagos ban on Okada }19 Atiku kicks against automatic ticket for APC presidential candidate }2

Teachers vow not to resume September 22 }4 Mbu, a puppet, says Governor Amaechi }3 L-R: National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie; Managing Director, Chairman of the Board, Dr. Oba Otudeko, Honeywell Flour Mills Plc., Mr. Olanrewaju after the Fifth Annual General Meeting Jaiyeola and of the company in Lagos...yesterday.

$9.3m seizure: Aircraft is mine, says Oritse jafor lCAN accuses LAGOS

Storms

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+234 (1)221 9496, 08033392655, 08023010222

Lateef Ibrahim and Oluwatosin Omoniyi

President, Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor, has admitted owner-

National Assembly seeks quick end to insurgency }5

APC, El-Rufai of blackmail

ship of the aircraft seized in South Africa at the weekend for illegally importing $9.3 million cash into the country for alleged arms deal. Oritsejafor’s Word of

Life Bible Church confirmed holding a residual interest in the embattled Bombardier Challenger 600 with registration number N808HG owned by Eagle Air company.

In a statement issued yesterday by Oritsejafor’s Personal Assistant, Mr. Bayo Adewoye, said: “On behalf of Pastor Oritsejafor, we can confirm that alCONTINUED ON PAGE 5

Quick Read Editorial The comatose steel sector }19 WHO declares Nigeria Ebola-free today }9 Chuka Odom, ex-FCT minister, joins Imo guber L-R: Mrs. Victoria Gowon; former Head of State, Gen. Yakubu Gowon and President Goodluck Jonathan at Gowon’s 80th birthday thanksgiving service in Abuja…yesterday

Fayemi replies Fayose: I left N36bn debt lYou are not sincere, says governor Adesina Wahab

ormer Ekiti State Governor, Dr. Kayode Fayemi, and his successor, Governor Ayo Fay-

ose, yesterday engaged in claims and counter-claims over the debt profile of the state. Fayemi debunked claims that he left a debt

burden of N84 billion for his successor. But Fayose insisted on the figure and described Fayemi’s position as unrealistic. In a statement yester-

day by his media aide, Mr. Yinka Oyebode, the former governor said the debt profile of the state as at October 15 when he left office was about N36 billion.

Fayemi said: “Governor Fayose had in his inaugural speech put the state’s debt profile at N57 billion. A day earlier, he had put the figCONTINUED ON PAGE 4

28 fuel importers jostle for 3m tonnes 4Q fuel allocation }4

Jega, RECs at loggerheads over polling units }6

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

News

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

28 fuel importers jostle for 3m tonnes 4Q fuel allocation lFG to announce winners before Oct 31

Adeola Yusuf

ver 28 fuel importers are jostling to secure permits in the fourth quarter fuel allocation, scheduled to be announced before the end of October. New Telegraph gathered at the weekend that the Petroleum Products Pricing Regulating Agency (PPPRA) had concluded the presentation and defence of allocation-schedule for importation of about 1.8 million tonnes of Premium Motor Spirit (PMS) in the quarter. The Pipelines and Products Marketing Company (PPMC) is also expected to import over 1.4 million tonnes per quarter through crude-for-product swap agreements with traders. The PPPRA allocationschedule’s presentation and defence before the minister, was led by the Executive Secretary of the PPPRA, Mr. Farouk Ahmed. The minister will ratify this allocation before it will be made public. “What he (Ahmed) initially presented is around 1.8 million tonnes for the fourth quarter, which is

also the last quarter, but we do not think that he would get up to that because 600, 000 tonnes have already been approved as supplementary allocation for October. “The PPMC boss, Prince Haruna Momoh, has also presented for ratification, the list of the traders that have contracts for the crude-for-product swap agreements with PPPRA for the quarter,” a source at the Ministry of Petroleum Resources said. The Federal Government had earlier slashed the number of companies licensed to import petrol in the third quarter to 27 from 40 in the previous quarter. “In total, the 27 fuel importers who got allocations in the fourth quarter are lobbying to get more allocation in this quarter while the MRS and other marketers that were dropped during the last quarter are also in talks with government to secure allocation in the fourth quarter, which is also the

last quarter for the year,” the source said. MRS Oil Nigeria was absent from the third quarter list, while some returnee importers like Oando, Total, Conoil, Folawiyo Oil and Gas, Forte Oil, Techno Oil, NIPCO and Masters Energy are also striving to get volumes larger than the ones they secured during the third quarter. It was gathered that Mobil Nigeria Plc., ExxonMobil’s local arm, and Aiteo that were listed among the winners with larger volumes in the third quarter are also reaching out to get relatively better volume. “They are all showing off their high performance level during the third quarter as they resume to get better deals during the fourth quarter,” the source added. The government had earlier approved the importation of 600,000 metric tonnes of petrol as supplementary allocation for the third quarter.

The third quarter allocation expired on September 31. The supplementary allocation is to augment supply to avert a looming scarcity, which could result from delay in the approval of the fourth quarter’s allocation. New Telegraph gathered that companies that benefited from the supplementary allocations are Oando, Total, Conoil, Folawiyo Oil and Gas, Forte Oil, Techno Oil, NIPCO and Masters Energy. Others are Mobil Nigeria Plc. as well as Aiteo. “The supplementary allocation will last till October ending. If we have to wait for the fourth quarter (allocation), this could have created scarcity of products,” a source at the Petroleum Products Pricing Regulating Agency (PPPRA) told our correspondent. Spokesperson for the agency, Mr. Lanre Oladele, did not reply an SMS sent to his phone. Our source, however, said some of the

oil marketers got licence to import between 45, 000 tonnes and 90, 000 tonnes of petrol. “NIPCO was given 90, 000 tonnes; Oando also 90, 000 tonnes; Aiteo too got 90,000 tonnes and Folawiyo also has 90, 000 tonnes. But companies like Obat and Rainoil have 45, 000 tonnes each. “Generally, this supplementary allocation is to beef up gap in the delayed fourth quarter allocation,” the source added. New Telegraph had exclusively reported that the Executive Secretary of the PPPRA, Mr. Farouk Ahmed, took the prepared fourth quarter’s allocation to the minister penultimate Thursday. Total Nigeria petrol imports for the third quarter were close to 3.1 million tonnes. The country is chronically short of oil products, particularly petrol, due to a long period of under-investment in its domestic refineries.

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FIRST NATION AIRWAYS LAGOS-ABUJA (MON-FRI) 06.50; 09:30; 11:45; 16:00 (SAT) 06:50; 11:45 (SUN) 11:45; 16:00 ABUJA-LAGOS (MON-FRI) 09:00; 11:30; 13:40;18:30 (SAT) 09:00; 13:40 (SUN) 13:40; 18:30 LAGOS-PORT-HARCOURT (MON-FRI) 14:45 (SAT) 16:15 (SUN) 14:45 PORT-HARCOURT-LAGOS (MON-FRI) 16:50 (SAT) 18:20 (SUN) 16:50 AEROCONTRACTORS LAGOS-ABUJA (MON-FRI) 06:50; 13:30; 16:30; 19:45 (SAT/SUN) 12:30; 16:45 ABUJA-LAGOS (MON-FRI) 07:30; 13:00; 19:00 (SAT) 12:30 (SUN) 15:30 MEDVIEW AIRLINES LAGOS-ABUJA (MON-FRI) 07:00; 08:50; 12:00; 15:30 (SAT) 10:00; 15:00 (SUN) 17:30; 18:30 ABUJA-LAGOS (MON-FRI) 09:00; 14:00, 15:00; 18:30 OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00 IBADAN-ABUJA (MON-FRI) 08:00 IBADAN-LAGOS (MON-FRI) 16:30 ILORIN –ABUJA (MON-FRI) 08:30 ILORIN –LAGOS (MON-FRI) 17:00 ABUJA-ASABA (MON-FRI) 10:00 ASABA-ABUJA (MON-FRI) 14:15 ASABA-LAGOS (MON-FRI) 11:30 LAGOS-ASABA (MON-FRI) 13:00 ABUJA-ILORIN 16:00 ABUJA-IBADAN 15:00

TODAY’S WEATHER FORECAST LAGOS

FLIGHT SCHEDULE

L-R: Managing Director, Heritage Bank Limited, Mr. Ifie Sekibo; Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; President/ Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Mrs. Debola Osibogun; Managing Director, Union Bank of Nigeria Plc, Mr. Emeka Emuwa and Group Managing Director, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, at the 2014 CIBN investiture in Lagos…at the weekend. PHOTO: SULEIMAN HUSAINI

You are not sincere, Fayose tells Fayemi CONTINUED FROM PAGE 1

ure at N89 billion during a television interview. This is in addition to the various unprintable words he used to describe the immediate past administration in the state, all in an attempt to paint a dismally poor state of finance for the state. “For the avoidance of doubt, the indebtedness of the state as at October 15, 2014 is N36,316,017,758.93. Of this amount, the sum of N7,830,636,440.62 represents foreign loans incurred by previous government since the days of the old Ondo State. “The remaining sum of

N28, 485,381,316.31 represents internal loan. These include inherited loans from previous government and outstanding balance (debt) of the bond taken at the Capital Market. “In spite of this, the Federal Government is owing the state the sum of N17,710,728,299.06. These include N10,839,493,135.63 (amount due from construction of federal roads); N4,012,384,082.60 (refund on Paris Club) and N2,858,851,080.83 (amount due on ecological projects). “If the Federal Government would graciously effect this payment, the debt

profile of the state would have been greatly reduced.” He added that the new governor was also not correct in saying none of the bank accounts of the state had up to N1 million. He urged Fayose to set straight the financial records of the state. “While Mr. Fayose alleged that the state account was in red, the state bank balances as at October 15 stood at N1,930,739,725.84. This comprised N1,463,805,908.56 (state account) and N466,933,817.28 (local government account). Also the Bond Sinking Fund Account balance

as at September stood at N3,019,987,424.03. “Nothing could be farther from the truth than Mr. Fayose’s allegation that none of the MDA’s account had up to N1 million. For instance, the Ministry of Agriculture’s account is in the excess of N90 million while the MDG account has close to N1 billion,” Fayemi added. Fayemi said his decision to respond to Fayose’s claims was to avoid a situation where the general public is “misled by the fraudulent claims and deliberate distortions of facts and figCONTINUED ON PAGE 7

ARIK AIR LAGOS-ABUJA (MON-FRI) 07:00; 08:00; 09:00; 11:00 13:00; 15:00; 17:00; 19:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 11:00; 13:00; 15:00; 17:00; 19:00 ABUJA-LAGOS (MON-FRI) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00; 20:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 09:00; 13:00; 15:00; 17:00; 19:00 LAGOS-PORT-HARCOURT (MON-FRI) 07:00; 09:30; 11:00; 13:30; 15:00; 17:30 (SAT) 07:00; 11:00; 15:00 (SUN) 09:30; 11:00; 13:30; 15:00; 17:30 PORT-HARCOURT-LAGOS (MON-FRI) 07:30; 09:00; 11:30; 13:00; 15:30; 17:00 (SAT) 07:30; 11:30; 09:00; 13:00; 17:00 (SUN) 11:30; 13:00; 15:30; 17:00 ABUJA-PORT-HARCOURT (MON-FRI) 06:45; 10:10; 13:30; 16:50 (SAT/SUN) 06:45; 10:10; 13:30 PORT-HARCOURT-ABUJA (MON-FRI) 08:30; 11:50; 15:10; 18:30 (SAT/SUN) 08:30; 11:50; 15:10

News

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Don’t trust Boko Haram, Senator cautions FG Emmanuel Onani Abuja

he Federal Government has been told to tread with caution in implementing any ceasefire agreement with the Boko Haram insurgents. Senator Ahmed Zannah, representing Borno Central Senatorial District, said government must exercise high level of wisdom and discretion in dealing with the issue. The ceasefire agreement was announced separately in Abuja on Friday, by the Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh and the Director General of National Orientation Agency (NOA), Mr. Mike Omeri. The ceasefire was to facilitate the release of over 200 Chibok schoolgirls, who were abducted

in April. But 24 hours after the agreement, the terrorists killed 18 people in Borno State on Saturday in multiple attacks. The lawmaker expressed doubt about the sincerity of the Boko Haram sect towards the ceasefire agreement. Zannah said: “I do not think it is true, because the Boko Haram insurgents are still attacking communities in Borno. The insurgents attacked villages in both Northern and Southern Borno on Saturday.” He said if the ceasefire was real and sincere, the insurgents would not have attacked the villages. When contacted, the Borno State Government declined comments on the issue. However, a media aide of Governor Kashim Shettima, Malam Isa Gusau,

told newsmen yesterday that the governor had no comment on the issue. He said: “Governor Shettima has no comment on the issue for now. He will speak at the appropriate time.” Also, a non-governmental organisation, Save Adamawa Communities from Terrorists, yesterday in Kaduna declared that the ceasefire may be a ploy by the sect to launch fresh onslaught against the Nigerian state. The group in a statement signed by its chairman, Mr. Josiah Garba, urged the Federal Government to be careful with the agreement. “We are very sceptical about this so-called ceasefire and we call on the government not to be deceived by the terrorists as this may be a ploy by them to acquire more arms for further attacks.

Government should take adequate steps to secure our communities. “As far as we are concerned, the government has just left us at the mercy of Boko Haram and it is very unfortunate. We and our property deserve to be protected by the government. “If the government is not ready to protect us, we should be allowed to carry arms and confront Boko Haram,” Garba said. The wave of violence hours after Nigeria’s government announced the truce has raised doubt about an end to the reign of terror. The development has deflated the new hopes of parents of the Chibok schoolgirls. “We were jubilating. We had every reason to be happy, but since then the ceasefire has been broken in quite a number of plac-

es already,” Lawan Abana, a parent of the one of the missing girls, told Reuters by telephone. He added that there were doubts about the credentials of the reported Boko Haram negotiator Danladi Ahmadu, who was unheard of before. “Can we trust him that he can deliver on this promise of releasing the girls when he has not delivered on the promise of the ceasefire?” Abana said. Talks were scheduled to continue in Chad today. The ceasefire deal reached between the Federal Government and the Boko Haram sect is a product of the September 9 meeting, between President Goodluck Jonathan and the Chadian Leader, Idriss Deby, in N’Djamena, the capital of Chad, New Telegraph gathered authoritatively. A highly-placed intel-

L-R: Former Interim National Chairman, All Progressives Congress (APC), Chief Bisi Akande; Kwara State Governor, Dr. Abdulfatah Ahmed and former Lagos State Governor, Senator Bola Tinubu, at the burial of Elizabeth, late wife of former Governor of Kwara State, Chief Cornelius Adebayo, in Oke-Onigbin, Kwara State…at the weekend

Reps move to curtail NNPC’s borrowing power Philip Nyam Abuja

proposed law seeking to prohibit the Nigerian National Petroleum Corporation (NNPC) from obtaining loan without the approval of the National Assembly is underway in the House of Representatives. The bill, titled, “An act to amend the NNPC Act to ensure approval of the National Assembly, is sought before any loan is obtained,” is sponsored by Hon. Raphael Igbokwe

(PDP, Imo). The proposed bill seeks to amend the NNPC Act, Cap. 123LFN 2004 by adding a new sub-section (6) which provides that: “The president shall cause the estimate submitted in pursuance of section (5) of this section, to be attached as part of the Appropriation Bill to be submitted to the National Assembly.” It further seeks to amend Section 8 by adding the phrase “provided the aggregate of such loans do not exceed the limit as approved by the

National Assembly” after the word president in the sub-section. According to the sponsor of the proposed legislation, “the bill seeks to enhance financial and fiscal discipline by ensuring that all loans are approved by the National Assembly before they are secured.” It would be recalled that Igbokwe had sponsored a motion praying the House to investigate the borrowing of the $1.5 billion loan by the NNPC to pay off debts accruing from importation of petroleum products for do-

mestic consumption. In the motion, he argued that the plan to borrow the $1.5 billion was not included in the 2013-2015 Medium Term Expenditure Framework (MTEF). The lawmakers had alleged that the various regulatory agencies, including Debt Management Office (DMO), did not approve the $1.5 billion borrowed by the corporation. According to him, Section 44(2) of the Fiscal responsibility Act prescribes a mandatory condition, that government

in the federation and its agencies and corporations desirous of borrowing shall show the existence of prior authorisation in the Appropriation or other Act of Law for purpose for which the borrowing is to be utilised (to the National Assembly). “Furthermore, subsection (3) of same section 21 (2) mandatorily requires the minister to cause the budget estimate submitted by the corporation and agencies to be attached as part of the Appropriation Bill to be submitted to the National Assembly.”

ligence source, who spoke with New Telegraph yesterday, disclosed that the “trouble-shooting meeting” between Jonathan and his Chadian counterpart, was far-reaching. According to the source, who spoke on condition of anonymity, the September 9 meeting was frank, even as both leaders agreed that Chad was central to ending the reign of terror and bloodletting in the North East states of Borno, Yobe and Adamawa. The Chadian leader’s involvement, the source noted, is crucial as, according to him, most of the fierce commanders of Boko Haram, are from Chad. Notwithstanding the ceasefire, New Telegraph learnt that the military will remain on the alert, in the event that the fighters violate the deal. He said: “I can confirm to you that the president of Chad midwifed this ceasefire you just talked about. “The reason for this is simple: most of the dreaded terrorist commanders, are from Chad, and considering his influence in his country, it was easy for him to facilitate negotiations. “You know Mr. President visited him (Deby) last month for talks, and one of the conditions for peace in that part of the country and for the release of the schoolgirls, was the release of some terrorist commanders held in different military and security facilities. “I was only privileged to know a little about the deal; the whole thing was perfected at the political level, because the disposition of the military has always been that we should not negotiate. “In fact, the CDS and the COAS (Chief of Army Staff), have always insisted that the military has the capacity to contain the terrorists,” he stated. He added that: “From the deal, government was expected to make the ceasefire announcement, after which their fighters will hold back.” The senior officer, however, noted that the “main reason I think the government agreed to this, is to ensure that the Chibok schoolgirls will not be harmed. “Their release may be in bits, their fear is so that they don’t find themselves in a situation where, after releasing all the girls, government will now renege on its own side of the bargain. “Remember, we have turned the tide against them, especially with the killing of their fake leader last month. CONTINUED ON PAGE 6

News

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Jega, RECs at loggerheads over polling units Onwuka Nzeshi ABUJA

esperate moves by the Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, to incorporate the proposed 30,000 new polling units into the work plan of the electoral body

for the 2015 general election is creating tension at the top echelon of the commission. The decision is been trailed by controversies since it was announced by the Commission and was soon discovered to be lopsided in favour of a section of the country. Out of the new 30,000 polling units, the North

will get over 21,000 units ( 85%) while the South will share the balance of about 8,000 units (15%). It is a project that would see the Federal Capital Territory (FCT) having more polling units than the entire five states in the South-East geo-political zone. New Telegraph learnt that a cold war is raging between Jega and the

Resident Electoral Commissioners (RECs) following disagreements over the parameter used in creating the new polling units and the propriety of introducing such a controversial project on the eve of a crucial election year. At a recent meeting Jega held with the RECs to work out the modalities for integrating the additional

polling units into the commission’s programme, the matter became a source of heated arguments and tempers flared as opinions became divided on the rationale behind the creation of the new voting points barely three months to the 2015 elections. A competent source at the INEC headquarters told New Telegraph that some of the RECs at the meeting were of the opinion that the issue be suspended till after the forthcoming elections. They argued that just like the proposed delimitation of federal constituencies was earlier suspended due to its sensitive nature, the proposed polling units ought to be suspended till

after the 2015 polls. Those against Jega’s moves argued that there was a lot of danger if new polling units were brought on board very close to the elections, particularly with the complaints of lopsidedness in the allocation of the polling units and the suspicion it had generated in different parts of the country. The meeting, which held last Wednesday, New Telegraph learnt, almost degenerated into a shouting match when one of the RECs from the South-East (names withheld) frontally opposed the move to force the new project down the throat of the commission and ultimately, the country. CONTINUED ON PAGE 7

Don’t trust Boko Haram CONTINUED FROM PAGE 5

L-R: First Lady of Congo, Mrs Anthionneth Sassuo Ngwueso; President, Africa First Ladies’ Peace Mission, Mrs. Patience Jonathan; wife of South African President, Nompumelelo, and her husband, Jacob Zuma, at a dinner in Pretoria, South Africa...yesterday

Two banks fail capital adequacy test, says CBN CONTINUED FROM PAGE 1

er global banks to adopt the Basel I and Basel II Accord in response to the deficiencies in financial regulation revealed by the financial crisis of 2007–2008. The Basel Accord is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk. It stipulates that banks meet the regulatory minimum CAR of 10 per cent. The CAR, also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a bank’s capital to its risk. Regulators track a bank’s CAR to ensure that it can absorb a reasonable amount of loss and comply with statutory capital requirements. This ratio is used to protect depositors and promote the stability and efficiency of financial systems around the world. Two types of capital are measured: tier one capital, which can absorb losses without a bank being required to cease trading, and tier two capital, which can absorb losses in the event of a windingup and so provides a lesser degree of protection to de-

positors. Meanwhile, going by the presentation made by Alade, a copy of which was obtained by New Telegraph, the banking sector and finance industry were adjudged to be resilient and healthy. Generally, according to the report, banks remained adequately capitalised with an average CAR of 17.75 per cent at end-August 2014, as against 18.1 per cent at end-August 2013, using Basel I capital adequacy framework. The decline, CBN said, was due largely to increase in risk-weighted assets. Under Basel II framework, industry CAR stood at 15.76 per cent as at endAugust 2014. Gross loans increased by 21.03 per cent from N9.278 trillion in August 2013 to N11.229 trillion in August 2014. Impaired loans (NonPerforming Loans - NPLs) increased by 16.36 per cent from N344.26 billion at endAugust 2013 to N400.57 billion at end-August 2014, of which 66.84 per cent (N267.74 billion) loans loss provisions had been made. However, NPLs ratio stood at 3.57 per cent at

end-August 2014, representing a decrease of 14 basis points compared with the corresponding period of end-August 2013. Similarly, there was a drop in Industry Liquidity Ratio, which declined from 50.6 per cent at endDecember 2013 to 42.6 per cent at end-June 2014 due to increased Cash Reserve Ratio (CRR). As at end-August 2014, the ratio stood at 43.87 per cent while all operating Deposit Money Banks (DMBs) met the prudential minimum requirement of 30 per cent at end-August 2014. Total industry deposits grew by 5.94 per cent (N937.74 billion) from N15, 783.14 billion at end-August 2013 to N16, 720.88 billion at end-August 2014. Industry unaudited profit before tax decreased marginally by about 0.004 per cent from N385.68 billion for the period January to August 2013 to N385.67 billion during the period January to August 2014. Also the Returns on Assets (ROA) and Returns on Equity (ROE) declined from 2.63 per cent and 22.47 per cent as at August 2013, to 2.39 per cent and 20.36 per cent as at August 2014.

The drop was attributed to high overheads, implementation of the revised guide to bank charges, increased contributions by banks to the Asset Management Corporation of Nigeria (AMCON) sinking fund and increase in CRR. The CBN put country’s external reserves at $39.37 billion as at October 13, 2014, indicating a decrease when compared with $42.85 billion at endDecember 2013. The current reserves level could finance approximately seven months of import. On the domestic scene, Gross Domestic product (GDP) growth at Q2 2014 peaked at 6.54 per cent with services contributing 36.9 per cent, agriculture 20.9 per cent and trade 16.8 per cent, were major drivers of growth. Crude oil and natural gas contributed 10.8 per cent, manufacturing 10.2 per cent and construction 4.3 per cent. Key impediments to growth were identified to be the potential impact of Ebola Virus Disease (which has claimed over 3,441 lives) on economic activities and insurgency effect on agriculture production.

“We pushed those that were left to a few border towns, where they carry out weak and isolated attacks. “I think in a few days from now, depending on government’s final disposition, there will be good news on the girls.” He further disclosed that the deal was specific on the identities of the Boko Haram commanders to be released. Though, he refused to give further details, he, nonetheless, said: “I think their demand is for a reasonable number of them.” Also, New Telegraph gathered that the military may not go to sleep over the ceasefire deal. A senior military officer, who also spoke in confidence, said, “What makes you think we will just withdraw and go to bed, because our political authorities have announced a ceasefire? “Where on earth have terrorists ever been so wholly trusted, especially at the initial stage of truce talks, to warrant our total withdrawal? “The military will not want to be taken unawares, and that is why we will remain ever alert and vigilant,” he stressed. New Telegraph also gathered that the final details of the deal, may be concluded this week, as talks in that direction re-open in Ndjamena. It was further gathered that the military was surprised at the ceasefire deal, as the CDS was locked in a meeting with his Cameroonian counterpart on trans-border military cooperation, when the communication for the peace deal announcement, reached him. New Telegraph gath-

ered that the critical nature of Lake Chad Basin, as it relates to oil, necessitated the need for Nigeria to negotiate peace. New Telegraph had on September 17 exclusively reported that President Jonathan met with leaders of Boko Haram during his visit to Chad as part of efforts by his administration to end the insurgency spearheaded by the sect. A very reliable source had confided in New Telegraph that Jonathan was led to the talks by key diplomats in the Nigerian embassy in Chad. The source said the talks with key leaders and commanders of the sect were in two parts, with the first one held in a secret location outside N’djamena, the Chadian capital, while the second leg of the discussion, which was an open session, held in the capital. It was gathered that former Borno State Governor, Senator Ali Modu Sheriff, was a key facilitator of the discussion between the president and the insurgents and he was assisted by some international stakeholders to bring the two parties together. The source said Sheriff was able to play a key role in bringing the two parties together because of the respect he commands in the top echelon of the Chadian government. The source added that the main purpose of the president’s trip to Chad was to meet with the Boko Haram leaders so that the Federal Government could curtail the rampage of the sect, which had taken a new vigour in recent months with the seizure of towns and communities in Adamawa, Borno and Yobe states.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

2015: Kwankwaso to step down for Buhari Ibraheem Musa Kaduna

ndications emerged at the weekend that Governor Rabiu Kwankwaso of Kano State may step down for Major General Muhammadu Buhari in the battle for the All Progressives Congress (APC) presidential ticket. With his possible withdrawal from the race, the battle for the APC presidential ticket will be a straight fight between the former head of state and former Vice-President Atiku Abubakar. APC will hold its national convention on December 2 where the presidential candidate will emerge. According to a source, who was at the APC Northern Stakeholders’ Meeting held in Kaduna on Saturday, the meeting resolved that a consensus presidential candidate should be supported by the region. “We are going to face an incumbent president in an election where the ruling party will have the national treasury at its disposal. So, we need to conserve our energy and resources for the general election instead of dissipating energy on the primaries,” he argued. The source, who does not want to be named, said that the stakeholders meeting did not prevail on any aspirant to step down for anyone. He added that the meeting resolved that the negotiations should con-

tinue after the stakeholders’ meeting. The source told New Telegraph that the horse trading continued well into Saturday night till the early hours of yesterday, before Kwankwaso agreed to step down for Buhari. According to him, Kwankwaso will still buy nomination form and maintain his structure but will withdraw at the National Convention ground which is billed to take place on December 2, and ask his supporters to vote for Buhari. The source did not mention the fate of Mr. Sam Nda-Isaiah, the publisher of Leadership newspaper who is also in the race. He, however, said that Isaiah’s contest will be good for the party because APC is erroneously seen as a Muslim party. But spokesman of Kwankwaso, Ibrahim Dantiye, denied any possible withdrawal of the governor from the race. “Nothing like that was discussed at the meeting. The rumour is just being spread by people who don’t mean well for the APC,” he told New Telegraph. Buhari, Atiku, NdaIsaiah, Kwankwaso, Governors Kashim Shettima (Borno) Ibrahim Gaidam (Yobe) and Abdul Azeez Yari (Zamfara), and Senator Lawali Shuaibu, the North West Vice Chairman of APC were some of the dignitaries that attended the stakeholders’ meeting.

You are not sincere, Fayose tells Fayemi CONTINUED FROM PAGE 4

ures in an attempt to invent excuses for imminent poor performance in office.” But in a statement by the Special Assistant to the Governor on Information and Social Media, Mr. Lere Olayinka, the government said Fayemi should come out with the real situation. The statement said: “We are not going to engage ourselves in exchange of words with those who served in the immediate past government because it is obvious that they are only being clever by half. “Most importantly, joining issues with exGovernor Kayode Fayemi and his wounded men will not bring food to the tables of Ekiti people. However, for the sake of clarity, it is important to state, once again, that the outstanding sum of N21.2 billion was left from the bond taken from capital market and Agric Loan, N15.5 billion from loans taken from various banks, N3.2 billion as

unpaid workers’ salaries for two months; N2.4 billion unremitted monthly deductions from workers’ salaries for four months; N700 million as unpaid subventions to parastatals and tertiary institutions; N400 million as unpaid leave bonus for workers; N3.2 billion as unpaid pensions and gratuities and N850 million as unremitted withholding taxes and other deductions. “As at the time we were compiling our report, over N10 billion was discovered as indebtedness to contractors and more discoveries are still being made because projects were awarded at highly exorbitant cost, with roads awarded at over N1 billion per kilometre.” Fayose said it is a lie for the immediate past government to have claimed that N36.3 billion was left as debt, “because what we analysed amounts to close to N60 billion and more are still being discovered.”

Ekiti State Governor Ayodele Fayose (kneeling) and his wife, Feyisetan during a thanksgiving service at the Deeper Life Church, AdoEkiti…yesterday

Jega, RECs at loggerheads over polling units CONTINUED FROM PAGE 6

“The man stood up and told Jega to his face that the creation of the 30,000 polling units was not a decision of the commission as it was only presented for discussion at an earlier meeting, but was yet to be ratified. He also observed that even if the decision was ratified now, it would be too hasty and inappropriate to implement it in the February 2015 elections, particularly after the Senate had written to INEC asking that the new polling units be put on hold for now. An angry Jega was said to have fired back immediately, insisting that it was the commission’s decision. Jega maintained that the position of the Senate was merely advisory and not binding on the commission. Rather than beating a retreat on the proposed new polling units, Jega has asked the RECs to submit a detailed framework within the next two weeks on how the new polling units would be integrated into the existing electoral programme of their respective states. According to him, only an injunction from a court of competent jurisdiction could stop INEC from creating these additional polling units and using them in the 2015 elections. This was contrary to his response in the wake

of the barrage of public criticisms and the Senate’s letter to INEC asking that the creation of the additional 30,000 polling units be suspended forthwith. In the heat of the crisis, Jega had addressed a press conference where he declared, among other things, that the new polling units had not been created, but that the commission was working on the framework and guidelines to be used by the RECs who would propose to the commission the creation of new polling units in their respective domains before they would be created. He also defended the project as a harmless one not meant to favour any part of the country, but to decongest existing polling units and make voting a smooth exercise during the next elections. In the defence, Jega explained that due to the growth in population in certain areas, some polling units were currently overpopulated and it would take a longer time for accreditation and voting to be concluded in such places during the elections. By his projection, the proposed 30,000 polling units would reduce the number of eligible voters to 500 per polling unit, instead of the present situation where some units have as many as 2,000 voters. In spite of this defence, sources at INEC disclosed

that many RECs were opposed to the introduction of the new polling units and wanted it postponed until the controversies surrounding it were resolved. But when Jega overruled them, they hinged their opposition on its timing and insisted that the commission had only three months left to prepare for the 2015 polls. However, when the question of its timeliness was put to vote, there was a clear polarisation as 14 of the 27 states present at the meeting voted for it while 13 voted against it on the grounds that it might create unnecessary confusion during the forthcoming elections if it was introduced and voters moved from the polling units where they were registered to new ones in unfamiliar locations. Ten states did not participate in the voting exercise due to the absence of their RECs at the meeting. For those who complained of lack of time, they pointed out that their hands were already full and it might amount to an overdose to roll out the new polling units and create separate registers for them before the next elections. Many of the states opposed to the move, New Telegraph learnt, were those still grappling with the challenges of distribution of the permanent

voters’ cards (PVC) and the continuous voter registration exercise while some have been battling with byelections meant to fill positions that became vacant either through death, resignation or impeachment of their former occupants. Beyond these excuses, New Telegraph gathered that Jega had had a rather frosty relationship with the RECs due to his “autocratic disposition” to managing the commission since he came on board. Ideally, New Telegraph learnt, the RECs, who oversee the elections in the 36 states and the FCT are the operational arms of the commission, but they have always been sidelined since Jega assumed office as head of the electoral body. New Telegraph also learnt that contrary to what obtained in INEC during the regime of his predecessors, Jega has relied essentially on his “presumed executive powers” and sometimes works with the National Commissioners (two from each of the six geo-political zones) in taking decisions for the commission. In his own estimation, the RECs were not part of the decision making body of the commission, even though INEC relies on them to implement its decisions, policies and programmes in their respective states.

News

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

NATIONAL

Catholic Church scraps plans to recognise gays, lesbians

atholic bishops meeting to discuss ‘family issues’ at a two-week summit have scrapped plans to welcome gay members of the church. Showing deep divisions at the end of the Vatican synod, which was sought by Pope Francis in part to chart a more merciful approach to homosexuals, the bishops failed to approve even a watereddown section on ministering to gay Catholics. According to the Daily Mail, midway through the summit, a draft

document was released proposing remarkably progressive plans for the Catholic Church, saying unmarried couples living together can be ‘positive’ and gay relationships and divorcees must be welcomed. But by the time the synod ended, the welcoming tone of acceptance had been stripped away and replaced by a paragraph describing homosexuality as ‘problem’ Catholic families have to confront. Rather than considering gays as individuals who had gifts to offer the

church, the revised paragraph referred to homosexuality as one of the problems Catholic families have to confront. It said: “People with homosexual tendencies must be welcomed with respect and delicacy,” but repeated church teaching that marriage is only between man and woman. The paragraph failed to reach the two-thirds majority needed to pass. Two other paragraphs concerning the other hot-button issue at the synod of bishops - whether divorced and

civilly remarried Catholics can receive Communion - also failed to pass. The outcome showed a deeply divided church on some of the most pressing issues facing Catholic families. It appeared that the 11862 vote on the gay section might have been a protest vote by progressive bishops, who refused to back the watered-down wording. The original draft had said gays had gifts to offer the church and that their partnerships, while morally problematic, provided gay couples with

Jonathan mourns Numbere ‘precious’ support. New Ways Ministry, a Catholic gay rights group, said it was ‘very disappointing’ that the final report had backtracked from the welcoming words contained in the draft. Nevertheless, it said the synod’s process ‘and openness to discussion provides hope for further development down the road, particularly at next year’s synod, where the makeup of the participants will be larger and more diverse, including many more pastorallyoriented bishops.’

L-R: Managing Director, Nigerian Breweries Plc, Mr. Nicolaas Vervelde; Corporate Affairs Adviser, Nigerian Breweries Plc, Mr Kufre Ekanem and Corps Marshal, Federal Road Safety Commission (FRSC), Mr. Oyeyemi Boboye, at the launch of ‘Don’t Drink and Drive’ campaign in Lagos …at the weekend. PHOTO: SULEIMAN HUSAINI

Anule Emmanuel

resident Goodluck Jonathan has expressed sadness over the death of the Founder and General Overseer of Greater Evangelism World Crusade Ministries International, Geoffrey Dabibi Numbere. The President in a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati, on behalf of his family and the Federal Government, extended heartfelt condolences to Numbere’s wife, Dr. Nonyem Numbere, as well as his children, relatives and members of the Greater Evangelism World Crusade Church. He also commiserated with the leadership of the Christian Association of Nigeria (CAN) and the people of Rivers State on the loss of Numbere. President Jonathan joined them in mourning the revered spiritual leader and former Chairman of the Christian Association of Nigeria in the South-South Zone, whose enormous impact on the moral and social development of millions of Nigerians and non-Nigerians will be greatly missed.

Gowon at 80: Northern Governors flay call for split Nigeria Odom joins Imo guber race Dan Atori MINNA

overnors under the auspices of Northern States Governors’ Forum (NSGF) yesterday frowned at some misguided Nigerians calling for the division of the country at the slightest provocation. The forum through its Chairman, Dr. Mu’azu Babangida Aliyu, said those fanning the embers of disunity are doing so for personal gains, adding that Nigerians must celebrate General Yakubu Gowon’s 80th birthday, remembering why we must ‘Go-On-

With-One-Nigeria.’ The chairman, who is also the Governor of Niger State, while speaking on behalf of his colleagues in a statement signed by his Chief Press Secretary, Israel Ebije, said General Gowon would be remembered as an “Apostle of Peace,” adding that Nigeria was indeed fortunate to have him as Head of State during the civil war. According to Aliyu; “Regardless of ‘our differences,’ Nigerians must continue to advocate for one united country. Those fanning the flames of disunity are doing so for personal gains. The collective developmental as-

piration of Nigeria supersedes group or personal interests. He said Gowon’s role in ‘Reconstructing, Rehabilitating and Rebuilding’ Nigeria and the ‘No victor, No vanquish’ position on the civil war helped Nigeria to heal quickly from the injuries of the war, calling on Nigerians to insist on ‘one Nigeria’ regardless of our challenges. “We cannot forget the selfless leadership role played by General Gowon during the civil war era. Perhaps it would have been worse if he was ethno-religiously biased. He stood for unity, he stood

for justice and he is indeed a role model for future generation of leaders. Meanwhile, former governor of Ogun State, Gbenga Daniel, yesterday General Yakubu Gowon, as an integral part of Nigeria’s political history, whose towering sense of patriotism and nationalism is simply outstanding. Daniel in his goodwill message on the occasion of Gowon’s 80th birthday said the former head of state’s place in the nation’s history is not in contest as it is replete with awesome records of achievements both in and out of power.

Haruna seeks inclusion of IDPs in electoral system Yekeen Nurudeen Abuja

s preparation for next year’s general elections gathers momentum, Minister of Youth Development, Boni Haruna, has advocated for the participation of Internally Displaced Persons (IDPs) in the country’s electoral

system. The former governor of Adamawa State said provision should be made in the nation’s Electoral Act for Internally Displaced Persons to cast their votes in the forthcoming election and for their votes to count for any party or candidate of their choice. Haruna, who stated

this in Abuja, at the weekend, while speaking with journalists said the call was necessary considering the large number of Nigerians displaced in various parts of the country. While emphasising the issue of creating an enabling electoral environment for IDPs, he said it should not just be

for people in the North East alone, adding that IDPs cut across all parts of the country. “And it will be unfair to deny them the opportunity to exercise their civic duty and their numbers run into millions. So, this is a personal appeal and I am sure I am speaking the minds of all IDPs,” Haruna stated.

Felix Nwaneri

ormer Minister of State for the Federal Capital Territory (FCT), Chief Chuka Odom, has joined the 2015 governorship race in Imo State. Odom, who first served as Minister of State for Environment, Housing and Urban Development in the late President Umaru Yar’Adua administration before he was redeployed to the FCT ministry, has already picked the expression of interest and nomination forms to contest the governorship primaries of the Peoples Democratic Party (PDP). The Ikeduru-born politician is coming into the race with a rich pedigree and the odds favour him for the PDP ticket despite the fact that some strong governorship aspirants have emerged from his native Imo East Senatorial District also on the PDP platform. Besides serving as minster, he has a corporate cognate experience that puts him ahead of others, considering his vast involvement in the

private sector, particularly legal practice spanning over 20 years. He was a former Deputy Chief of staff, Government House, Umuahia, Abia State in the administration of former Governor Orji Uzor Kalu. His exemplary performance distinguished him and further resulted in another appointment as the Commissioner for Lands, Survey and Urban Planning, from where he was moved to Special Duties. As the FCT minister of state, Odom invented an autonomous funding mechanism for the development of satellite towns in the capital territory. This, many say, would come handy against the backdrop of the setbacks suffered by Imo State in the area of housing and urban development. Some PDP chieftains in Imo State, who spoke on Odom’s entrance into the race, said it is an easy answer to the argument that his Owerri zone may not have a candidate that is strong enough to wrest power from the incumbent.

News

NEW TELEGRAPH monday, OCTOBER 20, 2014

Editors to honour late Oyo Tuesday

L-R: Chairman, United Community Development Association, Alhaji Abdulazeez Adeleke; Nollywood Actor, Mr Kola Olaiya; President, Golden Movies Ambassador, Mr Saidi Balogun; President, Women Arise and Campaign For Democracy, Dr. Joe Okei-Odumakin; ex-President, National Association of Theatre Practitioner, Prince Jide Kosoko and Afolobi Omolaja, during a Public Lecture on 2015 Elections in Lagos…yesterday

award

Journalists across Africa honoured in Kenya Tony Okuyeme

he top prize at this year’s CNN MultiChoice African Journalist Awards has been awarded to Kenyan journalist, Joseph Mathenge. He was awarded the overall ‘CNN MultiChoice African Journalist of the Year’ Award for his work; ‘Images of Terror,’ which appeared in Kenya’s daily print newspaper, The Standard and was chosen from entries spanning 38 nations across the African continent. The work documents the moments of terror experienced by Westgate

Kenyan journalist, Mathenge named CNN Multichoice African Journalist

l Nigerian Emelike, Ololade win Culture Award, Health & Medical Awards Mall shoppers in Kenya, when the mall was attacked by gunmen in September 2013. Mathenge said: “It’s a great honour, and I’m humbled to receive this award. All finalists who are here deserve this award. I hope it will motivate men, women and children of good will all over the world to fight terrorism. Memories fade with time, but pictures don’t. We felt it necessary to capture each and every moment, so that generations to come may see the horror.” President of Tanzania, Jakaya Kikwete; CEO MultiChoice Africa,

Ex-NBA president threatens to sue CJN over influence on judicial officers Tunde Oyesina Abuja

ormer President of the Nigerian Bar Association (NBA) and the Coordinator of Rule of Law and Development Foundation, Chief Joseph Bodunrin Daudu (SAN), yesterday threatened that his group will not hesitate to file a court action against the Chief Justice of Nigeria (CJN), Justice Mariam Aloma Mukhtar, over what he described as over bearing influence on judges. Daudu, who stated this while addressing the press in Abuja, had accused the CJN of treating Nigerian judicial officers like kindergarten children. He added that the CJN has been too much involved in the administrative duties of other courts in the country.

He said though his foundation agrees that there should be discipline in the system as it relates to the movement of judicial officers, such discipline must not be at the expense of judicial officers’ rule of law and independence of the judiciary, where judges can be subjected to witch-hunt on account of other reasons unconnected with their movement. The former NBA president said: “It is indeed a matter of great shock and surprise that some heads of state courts and indeed other courts were seeking permission from the Office of the Chief Justice of Nigeria before travelling. “To operate in the current manner is to reduce Nigerian judicial officers to kindergarten children under the supervision of an overbearing headmaster.”

Nico Meyer and Deborah Rayner, SVP International Newsgathering TV and Digital, CNN International, presented Mathenge with the Award at a ceremony held at Mlimani City Conference Centre, in Dar es Salaam, Tanzania on Saturday October 18, 2014. Chairperson of the judging panel, Ferial Haffajee, said: “Joseph Mathenge’s photographs so eloquently captured one of Africa’s toughest 21st Century moments that they were worth a thousand words. That said, the quality of all the winners’ works made the contest a tightly run one.”

Mathenge, winner in the Mohamed Amin Photography category, was among 28 finalists from 10 countries, who attended the awards ceremony as the culmination of a fourday programme of workshops, media forums, networking, and sightseeing. Obinna Emelike, Business Day, Nigeria, won Culture Award, for his entry; ‘The roads between us…..a journey across Nigeria.’ It was presented by the VP, Content Sales and Partnerships, CNN International, Greg Beitchman. According to the judge, “Obinna Emelike’s lovely article is both a travel and culture story of two Afri-

WHO set to declare Nigeria Ebola-free Appolonia Adeyemi

ollowing the non-detection of new Ebola cases in Nigeria after the requisite 42 days of active surveillance that is currently in place, the World Health Organisation (WHO) is set to declare the end of the outbreak of Ebola Virus Disease (EVD) in the country. The attainment of this status today is expected to be a welcome development not only in Nigeria, but in the world community, where the worst-ever outbreak of the deadly virus has, so far, killed more than 4,500 people, mainly in Guinea, Liberia and Sierra Leone. Isolated cases have now begun to appear in Europe and the United States. Nigeria had 19 con-

firmed cases of Ebola virus and eight deaths, which occurred in the country, where the last reported case was on September 5, 2014, according to the Centre for Diseases Control (CDC) In an “Ebola situation assessment Report” released on October 15, WHO said the end of the outbreak of EVD would be declared in Nigeria on Monday, October 20, 2014. For WHO to declare an Ebola outbreak over a country must pass through 42 days, with active surveillance demonstrably in place, supported by good diagnostic capacity, and with no new cases detected. Active surveillance is essential to detect chains of transmission that might otherwise remain hidden.

cans from different parts of the continent coming together to explore northern Nigeria. It is written as a firsthand account, much like a diary, full of humour and life. Obinna admits his attempt show the beauty of northern Nigeria to his new friend without highlighting the political challenges the area faces.

igerian editors will file out on Tuesday to honour their former president, Dame Oluremi Oyo, who passed away on October 1, 2014, aged 62. Tagged ‘Media Afternoon of Songs and Tribute in Honour of Remi Oyo,’ the event comes up at the Media Centre of the News Agency of Nigeria (NAN), in Iganmu, Lagos. It starts at 4p.m, and closes 6 p.m. Organized by the Nigerian Guild of Editors (NGE), Diamond Award for Media Excellence (DAME) and NAN, the special programme will afford editors the opportunity to go down memory lane about the woman who led them for two terms (four years), and who brought dignity and respectability to the NGE. The afternoon will be characterized by hymns, Bible reading, prayer for the Oyo family, exhortation, testimonies, and others. “It’s a solemn opportunity to pay tribute to the memory of the woman who served the NGE, journalism, and indeed, Nigeria well,” says Femi Adesina, president, Nigerian Guild of Editors. “Let the tribesmen and women of Dame Oluremi Oyo (editors) turn out in their numbers to honour the deceased, and comfort her family,” Adesina added.

FOR SALE

BANANA ISLAND

hand-side – N150m

l 5 Bedroom terrace apartment on

l 5 bedroom detached house with BQ on

ONIKOYI ESTATE

l A massive land measuring 10,000sqm,

400sqm of land at Banana Island

l 4nos contiguous parcel of land

measuring 3151square meter at BLK plot 9,10,11&12 Onikoyi Estate Banana Island ikoyi l 2plots of land measuring 900sqm each at Onikoyi family land, Banana Island. l A plot of land measuring 992.936sqm at Onikoyi family land, Banana island.

Oyibo Adjaro Street - N130m

CBD along Durosimi Etti Street.-N850m Asking

NORTHER FORESHORE ESTATE

l 4 nos. 4 bedroom semi detached houses

@ – N100m each

CHEVY VIEW ESTATE

l 2 contiguous plots of land measuring

675sqm each-N110m

OSBORNE ESTATE 1

CALTON GATE

sitting, guest chalet and boys quarter on land size of 1650sqm at Ibadan Street l 6 bedroom detached house with 3 bedroom guest chalet, and 2 room BQ on a land measuring 2300 sqm at obudu close.

MAFOLUKU

l 6 bedroom detached house with 3

LEKKI PHASE I

l Luxurious 4 bedroom detached house

+ 1 bedroom guest chalet + 2 room BQ on Chris Otulana Crescent, Lekki right

l 800sqm in Carton gate – N100m net l 5 bedroom detached house with BQ

well finished on closes B3 and 7

l block of 3nos 3 bedroom flats + 1 park-

ing store at Ayinde Fasasi Street – 50m

OGUN STATE

l A massive parcel of land measuring

4.687 hectares at Riverview Estate, isheri, Ogun State

To LET

LAGOS ISLAND

OSBORNE 1 ESTATE

VICTORIA ISLAND

LEKKI PHASE 1

• Well finished and furnished 2 bedroom apartment on the 10th floor at Boyle street • Well improved 4bedroom semi detached house with BQ on Jide Oki good for office use • A 6 bedoom detached house, sitting on a land size of 563sqm on saka jojo street Victoria island

• 3 bedroom luxury apartment, with BQ on the ground floor within a mini-estate + swimming pool, gym etc. - $50k • Well finished 2 bedroom bungalow at Prince Bode Adebowale Crescent, Lekki 1- N2.5m /pa

OKOTA

• 3 bedroom flats (Ground floor) on Onwujuobi Street off Ago Palace Way, Okota Lagos N600/p.a

Please contact

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Metro

Housewife kills step-daughter over Sallah clothes

Taiwo Jimoh

omicide detectives attached to the Adeniji Adele Police Station, Lagos Island, have uncovered the reason a housewife strangled her four-year-old step-daughter and dumped her body into a canal at the Orile area of Lagos. The woman, Aminat Akanni, confessed that she strangled the girl, Nufisat, because she was angry with her father, who is her husband, for hanging up on her while she was demanding money during the Eidel Kabir to buy clothes for her twoyear-old son, Yusuf. While the late girl’s father, Moshood Mubo, lives at Adeniji Adele area with his first wife and kids, his second wife, Aminat, lives at Orile with her own two kids. Only Yusuf is Mubo’s biological child. Blinded with fury over Mubo’s alleged refusal to give her money, Aminat waited around Adeniji Adele and kidnapped Mubo’s two kids, Nufisat, 4, and Lateef, 7, on their way to buy biscuits. She took them home and strangled Nufisat to death, after which she dumped her body into the canal. Police later found Lateef with her after Mubo had reported the kids missing. She was arrested and made confessional statements. Speaking with our correspondent, Mubo said: “My waywardness led to the death of my daughter.” Mubo said he was living comfort-

ably with his first wife at Adeniji Adele before he met Aminat who became his second wife. He recalled: “I met Aminat on Lagos Island and we started a relationship. Two months into our courtship, she told me she was pregnant. I didn’t want an abortion, so I told her to keep the pregnancy that I would take care of her and the baby.” Immediately he took the decision, Mubo went to Orile and rented a mini flat for her, “because I didn’t want her to live with my first wife here on Lagos Island.” He added: “After I had rented the apartment for her, I go there thrice in a week to see her. I stay most of the times on Lagos Island because my business is at Idumota market.” Mubo also explained that he discovered that shuttling between Orile and Lagos Island was tasking and thus told Aminat to come to his shop whenever she needed money for her upkeep. Part of the upkeep was that on every Eid-el Kabir celebration, to avoid clash between his two wives, he would kill a ram or a cow and share it between the women. Mubo added that two days to Eidel Kabir, he was busy with customers in his shop when Aminat called, demanding money to buy clothes for her son. He said: “I was attending to a customer and I shouted at her. She dropped the phone. The following day, which was the eve of Sallah, she called me again to ask for the money.

Mubo

The late Nufisat

I promised her that I would come to her house on Saturday which was the Eid-el Kabir day. I told her I would come with the boy’s clothes.” Mubo said that on Friday night, he went to Nufisat and Lateef ’s Arabic school around 8pm to see them. The kids rushed out of the class and asked what he bought for them. He said: “That was how I gave them money to go and buy biscuits along the street. A few minutes after my kids left, their mum came and asked after them. She said she wanted to show them the clothes she bought for them. “I told her they went to buy biscuit. She dashed out to search for them, because it was late. We went to the house where they went to buy the biscuit, but the woman told us they had gone.” Mubo said that when they could not locate the kids, they left for Ilorin, Kwara State, to seek traditional intervention. He was still in Ilorin when he got a call that Lateef was seen with his second wife

The mother

at CMS Bus Stop. She was arrested. The grieving mother, Mrs Funmilayo Mubo, said: “Where do you expect me to get another baby like Nusifat? When my husband introduced Aminat to me as my second wife, I welcomed her. Even when she was arrested, she told the police that the late Nufisat and I did not offend her. My question is this; why did she kill my daughter?”

Gunmen shoot father, abduct sons in Cross River

Sympathisers in front of Ita’s house

Clement James Calabar

Ita

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

unmen numbering about four at the weekend stormed the residence of one Etim Ita in Atimbo village, Akpabuyo Local Government Area of Cross River State and abducted his two sons. The hoodlums, who invaded the house of the

farmer about 4pm on Friday, forcibly took away the boys whose names were given as Archibong (5) and Joshoua (3). Before escaping with the children, however, they shot the father on his left lap to incapacitate him. Recounting his ordeals while writhing in pain in his house, Ita, who had five children before the incident, said

he was sleeping with his family in his two-room apartment in the village when the gunmen hit the door and pulled it down before gaining access to the room. He said: “I was sleeping with my family when, about 4pm, I heard a loud bang on my door. Before I could stand up, I saw three men standing in the siting room where I was sleeping. They asked me to lie down but I challenged them.” Ita said he struggled with the hoodlums which attracted his wife and the children who were sleeping in the next room. He added: “When my wife and children came to the parlour, the men asked them to lie down. It was at this point that one of them pointed a gun at my lap and shot me. Before I knew it, they had taken Archibong and Joshua and ran out.”

The moment they ran out, Ita’s wife said she went after them but they had a waiting taxi, painted in the state colour of blue and white, which zoomed off with their victims. “Since I could not pursue them because of the wound, my wife and first daughter pursued them but the taxi which brought them sped off immediately they jumped in the vehicle with the children,” Ita said. He added that though he shouted for help, none came although a Police College is just about 700 metres away. When contacted, the state Police Public Relations Officer (PPRO), ASP Hogan Bassey, confirmed the incident. The PPRO said that he had just received the report of the incident, adding that investigation into the matter was would commence soon.

Metro 11

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Man beats pregnant wife to death Uwakwe Abugu Enugu

Suleiman Abba, IG

ne Mr Ozoemena Nwankwo of Akpawfu village in Nkanu East Local Government Area of Enugu State has alleged beaten his four-month pregnant wife, Ndidi, to death. The state Police Public Relations Officer (PPRO), Ebere Amaraizu, said in a statement yesterday, that the incident occurred on Friday. The statement reads in part: “It was gathered that on that fateful day, 17/10/14, about 10pm, the husband of the deceased,

who has been described by sympathisers as wife beater, allegedly turned his four-month pregnant wife into a punching bag over a yet-to-be established issue between them which allegedly caused her injury on the right leg as well as her consequent unconsciousness.” The PPRO explained that the deceased was subsequently rushed to a nearby hospital where she eventually gave up the ghost that same night. He added: “Meanwhile, the remains of the deceased have been deposited at Agbani General Hospital, Nkanu

West Local Government Area of Enugu State for autopsy just as Ozoemena Nwankwo, the suspect, has been nabbed by the police operatives trying to unravel the circumstances surrounding the incident. “Although, the suspect is yet to come up with motive behind the dastardly act, he is seriously regretting the act which has led to the death of his wife. “The suspect declared that he never knew that his alleged action would have resulted in the death of his wife. A full-scale investigation has already commenced into the incident.”

‘Robbers threatened to kill me in my parents’ presence’

Camillus Nnaji

young man has revealed how robbers stormed their home at Fola Agoro, Shomolu area of Lagos State and threatened to kill him if his parents did not cooperate by bringing out valuables in the house. The victim, who wished to remain anonymous for fear the robbers may come back for him, said that the hoodlums held a gun to his head, right in front of his parents and threatened to shoot. He added: “They wanted to shoot me in front of my parents. It started around 1am. I saw two of the robbers with guns. I saw them just as they were breaking into our room. They robbed about four rooms in the compound. They took my phone, laptop and jewellery.” Some of the victims said it was sheer miracle nobody was killed after the invasion of the bandits. Confirming the attack, the state Police Public Relations Officer (PPRO), Kenneth Nwosu, said the incident occurred on October 12. Nwosu said that the attack was repelled by policemen attached to Alade

olice in Ogun State have arraigned one Mr Oluwatoyin Omotosho for fraudulently collecting money from the residents under the government’s Homeowners’ Charter programme. The accused was arraigned on a two-count charge before Senior Magistrates’ Court 3, Isabo, Abeokuta, presided over by Senior Magistrate Martins Akinyemi for fraudulently sending text messages to

Musa Pam Jos

ver 1,000 traders, artisans, farmers, politicians, widows, youths and others in Plateau North senatorial district of Plateau State are to benefit from the multi-million naira empowerment programme of Senator Gyang Nyam Pwajok. Addressing journalists in Jos at the weekend, Pwajok said arrangements had been concluded for the distribution of items to the people. The senator, who spoke through his media officer, Mr Chuwang Dung, said the Senate President, David Mark, would be the special guest of honour during the event scheduled to hold on Thursday the Jos Polo Field. He said the gesture was aimed at creating opportunities for the less privileged to participate in the economy and improve their earning potential. This, according to him, is to assist their families fight their way

out of poverty. He said: “This initiative is part of effort of Senator Pwajok to increase small and medium-scale enterprises among people of his constituency, thus improving the quality of lives of the citizenry through capacity building. “It is when our people are gainfully employed that they would be able to put food on their table and become self-sufficient.” Items to be distributed include vehicles, tricycles, block-moulding machines, water pumps, generating sets, milling machines, grinding machines, hair dryers, sewing machines, barbing kits, computers and wheelchairs, among others. The lawmaker noted that needs assessment was carried out before embarking on the programme, where various political leaders and associations were consulted to ensure that the needs of the beneficiaries were met to enable them to be self-employed and selfsufficient.

Pro-Jonathan group supports widows Temitope Ogunbanke One of the raided houses

Police Station and Rapid Response Squad (RRS), who responded to a distress call at No. 17, Fola Agoro Road, Shomolu and arrested one Tunde Aliu of no fixed address. He said: “Items recovered from the suspect are one locally-made double barrelledgun, three Nokia phones and cash of N6,000. The suspect with others at large allegedly entered the aforesaid address and robbed the residents of their belongings. Effort is on-going to arrest the fleeing members of the gang. “The case is under investigation at the State Criminal Investigation Department

(SCID), Yaba, Lagos.” A resident, who gave her name simply as Mrs Faith, said she and her husband had left for a seven-day programme, organised by Redeemed Christian Church of God (RCCG) in their area when the robbers came. According to her, she was returning around 3am with her husband from the church programme when she noticed a crowd of people. Although they broke into the woman’s home, she was full of joy that nobody was killed and that she was not at home. She said: “They broke into our mini flat and stole

cash of over N250,000. They stole blackberry phone, one iPhone 5x, two gold wristwatches from me and my husband. A gold hand chain, my husband’s international passport and power band battery charger were also taken.” A policeman, who was seen guarding the street, said the robbers came in three motorcycles and invaded the houses at about 1am. He said: “Our men responded quickly and arrested one of them while others fled. One of them threw his gun into the gutter. We are waiting to see who would come for the gun.”

Man dupes Ogun residents over Homeowners’ Charter

1,000 to benefit from lawmaker’s empowerment programme

innocent applicants, asking them to credit a private bank account to obtain their Certificate of Occupancy (C of O). He was charged for conspiring with others at large on September 2, about 10am to commit stealing contrary to and punishable under Section 516 of the Criminal Code Laws of Ogun State, 2006. Omotosho was also alleged to have connived with others at large to fraudulent-

ly convert N62,000, property of the Ogun State Government, to his own use at a first generation bank, thereby committing an offense contrary to Section 383 and punishable under Section 390(9) of Criminal Code of Laws of Ogun State of Nigeria, 2006. The accused was granted bail in the sum N100,000 with one surety, who must be a regular tax-payer, in like sum, just as the case was adjourned till December 17 for Amosun hearing.

ne of the groups supporting President Goodluck Jonathan’s re-election bid, ‘4J’ (For Jonathan), has empowered some widows in the South-East. The group gave financial assistance to widows who could not sponsor their children’s education. During the empowerment programme in Awka, Anambra State, the group also distributed cloths, bags of rice, soaps, hair dressing equipment, sewing and tailoring equipment, grinders, among others to the widows. The First Lady, Mrs Patience Jonathan, who was the special guest at the event, presented the gifts and empowerment materials to widows from each of the SouthEast states. The National Coordinator of the group, Dr Emeka Eze, said the programme was done in collaboration with Women For Change Development Initiative. Eze added that his organisation was happy for empowering millions of Nigerian women, especially the widows.

The group also thanked the people of the South-East, especially the leaders and stakeholders in the geopolitical zone, for their large turnout during the widows’ empowerment programme. Eze warned those trying to tap into the success of the Women for Change/4J widows’ empowerment project, by claiming to be part of it, to jettison the idea. He said: “For example, one Jim Okonkwo, claiming to be the chairman of Motorcycle Transport Union, was quoted saying he was the one who mobilised the widows, youths, ‘keke’ and motorcycle drivers to the event. Such statements are deceitful, uncharitable and self-indulgent. “We are cautious on wrong claims so that the project is not smeared or tarnished by persons who do not bear the same philanthropic ideologies as we do. “4J is a non-governmental organisation founded by a philanthropist, Prince Arthur Eze, and it will continue to collaborate to assuage the responsibilities and burdens of widows and children in Nigeria.”

News

miracle

New Ekiti governor shows maturity, promises malice towards none Adesina Wahab Ado-Ekiti

kiti State Governor, Mr Ayo Fayose, has said he will not allow people he described as sycophants to mislead him

monday, OCTOBER 20, 2014 NEW TELEGRAPH

south — west

Fayose: I won’t allow sycophants to mislead me in his second coming as governor of the state, saying what he has received from God is a rare opportunity. This position was expressed by the new governor of the state, just as his wife, Feyisetan, said God gave her the revelation of her husband’s eventual restoration to power shorty after he was controversially removed from office in 2006.

$US480bn The nominal GDP of Sweden (World Bank) in 2009. Source: Blatantworld.com

Both spoke in Ado-Ekiti yesterday at a thanksgiving service held at the Deeper Life Bible Church to mark the inauguration of Fayose last Thursday. The General Superintendent of the Church, Pastor Williams Kumuyi, while speaking at the church service urged the governor to rule the state with the fear of God and imbibe the tenets of “integrity, openness, trans-

The percentage of women population above 60 years in Djibouti in 2012. Source: Un.org

parency and prudence in the discharge of his duties”. Kumuyi, who delivered a letter to Fayose detailing his advice to the governor, also said, “leadership, either temporal or political is divine. It is given by God. So you have to know the extent you have to go in moving closer to God as you preside over the affairs of this state. Be prudent

1.25m

The total number of fixed-telephone subscriptions of Finland in 2010. Source: Itu.int

with resource management and work for the socio-economic development of this state.” In his response, Fayose said he had forgiven all his detractors and that he sees nobody as enemy to fight, saying, “Having a second chance is very rare. If this time has been in time past, my name would have been one of the names to be recorded as those who God gave a

N492.4m

The total capital importation value of the Servicing sector in 2007. Source: National Bureau of Statistics

second chance. “My return to government is not common in history. It is a rare miracle. During the seven and half years of my political wilderness, I was taken to court over what I knew and those I knew nothing about 59 times aside the 45 days I spent in Ikoyi Prisons during my trial by the EFCC. “My security aides and political aides like Chief Dayo Okondo were incarcerated for three and half years without committing any offence. I won’t allow sycophants to derail me again. “All my property were left in the Government House because I had to run for my dear life. So, this time my mission is to look after Ekiti people and not to fight anybody. I will not allow this position to go into my head or use it to oppress anybody. I don’t have anybody in mind to punish or any political battle to fight,” he said.

We’ll sack Ajimobi easily, says Olaosebikan Sola Adeyemo Ibadan

A L-R: PDP governorship candidate in the Ondo 2012 election, Chief Olusola Oke; Olugbo of Ugbo, Oba Frederick Akinruntan and Ondo State Governor, Dr Olusegun Mimiko, at the inauguration of Lakua Vanguard in Igbokoda, Ondo State…at the weekend.

UCH raises the alarm over Lassa fever in Oyo

Adams urges S/West governors Ife/ Modakeke may boil again It was learnt that the to prioritise Yoruba language Adeolu Adeyemo Ife turned back the Mo-

Sola Adeyemo

Shola Adefuwa

Ibadan

he management of the University College Hospital (UCH), Ibadan, has expressed worries over the increasing cases of Lassa fever in the Oyo State capital and its environs. The coordinator of the teaching hospital’s Response Team for Outbreak of Diseases and Emergency, Olusegun Fasina, raised the alarm in an interview with New Telegraph last weekend. According to him, the number of patients diagnosed with Lassa Fever has increased steadily in the last two months, saying that “the management is particularly worried about the development because the ailment belongs to the same family of hemorrhagic fever like the dreaded Ebola, which has raised global concern in the recent times due to the level of fatality it has caused especially in some parts of West Africa”.

overnor’s from the South -West region of the country have been urged to accord more importance to the study of Yoruba language in schools in their respective states, as way of ensuring the values of ethnic group are elevated. The National Coordinator of Oodua People’s Congress (OPC), Otunba Gani Adams stated this yesterday at the quiz competition organized by Olokun Festival Foundation as part of activities marking the 2014 edition of the festival in Lagos. Adams said urgent steps need to be taken to prevent the language from going into extinction, saying parents do not allow their children to speak the language at home any more. “I believe it is not only Yoruba language that is going into extinction in Nigeria, Igbo is also go-

ing as well.” Adams also said ‘ we are the rightful owners of the language are not promoting it, but foreigners who come from Europe and America project the language more than us. “Yoruba Language is not the only Language going into extinction in Nigeria today we have about 200 ethnics and tribes whose language have lost their value to foreign culture.” The promoter said the essence of the quiz competition is to promote Yoruba Language in schools in south west region and Lagos State in particular. Six schools participated in the competition among which are Estate Junior Grammar School, Opebi Junior Grammar School, Ikeja Junior Grammar School others are Ikeja Junior College, Ilupeju Junior Grammar School and Ojodu Junior High School.

Osogbo

he relative peace in Ife and Modakeke after 17 years of bloody war that claimed lives of hundreds of people in the communities is now being threatened as renewal of hostilities is now imminent between the two warring towns. Already, red alert has been placed by the Osun State Police Command to avert any bloodshed that may arise in the new hostility that has been brewing in the last two weeks. New Telegraph investigations revealed that the age-long feud resurfaced over the non-compliance to the directive given by the Federal Government some years back that each community should be in possession of their farm lands. Already, tension has enveloped the two communities as their sons and daughters are now leaving in palpable fear.

dakeke and prevented them from going to their farmlands in areas like Omi funfun, Ogudu, Abe, Idiogun-sanni, Amodo, Yekemi, Oosi siooko and Ara to mention a few. The Ife are said to be demanding royalties on the farmland, which the Modakeke are not ready to part with. The development, however, reportedly infuriated the Modakeke, who resisted the move, which they claimed was against the agreement reached with the government in a peace agreement signed to end the last war between the two communities. Already in other affected area along Oyere road, Alapata, Amokegun and Oyolowa, the people of the areas have resorted to taking up arms and shooting sporadically into the air to scare one another while some roads leading to the places were blocked.

head the 2015 general elections, a governorship aspirant on the platform of the Peoples Democratic Party (PDP), Mr. Kehinde Olaosebikan, has predicted that the incumbent All Progressives Congress (APC) administration in Oyo State led by Senator Abiola Ajimobi would be unseated effortlessly. Olaosebikan, a former local government Caretaker Chairman and the former Chief Press Secretary (CPS), to the late former governor Lam Adesina in the state said his verdict was based on what he called abysmal performance of governor Ajimobi in office occasioned by his unpreparedness for governance. In a chat with journalists in Ibadan at the weekend, he said governor Ajimobi, came into power unprepared thereby messing up in virtually all the sectors, adding, “unseating Ajimobi is very simple. Frankly speaking, one does not really need any rigorous campaign to send Ajimobi away. “The governor himself has already prepared his own exit with his abysmal performance and poor relations, the worst ever relations with the people. Just go round the state, you will hardly find a place where people speak well of him.”

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Battle for Govt House

Rivers 2015

Ebonyi

Lagos

Maku confident of victory after 2007 failed bid

Wike goes for Amaechi’s seat amidst crisis

Chukwu primed as Elechi’s successor

Solomon: I’ve waited for eight years to be Lagos gov

Politics

Governorship: Ex-ministers throw hats in the ring... Seven ministers have quit the Goodluck Jonathan administration to pursue governorship ambitions in their states. While some of the former ministers may get the Peoples Democratic Party (PDP) ticket, some may not make it to the February 28, 2015 governorship election. AYODELE OJO reports

ast week, seven ministers quit the Federal Executive Council (FEC) to pursue governorship ambitions in their respective states. Their exit from the cabinet is effective today. President Goodluck Jonathan had directed the ministers to quit the cabinet on or before October 20. At the FEC valedictory session held for the departing ministers who are interested in pursuing political interests, Jonathan charged them to be good ambassadors. The ministers who have thrown their hats into the governorship ring are: Emeka Wogu (Labour and Productivity); Prof. Onyebuchi Chukwu (Health), Labaran Maku (Information), Nyesom Wike (State for Education), Darius Ishaku (State for Niger Delta), Musiliu Obanikoro (State for Defence), and Dr. Samuel Ortom (State for Industry, Trade and Investment). All the seven ministers are contesting the governorship on the platform of the Peoples Democratic Party (PDP). Wogu is trying his luck to succeed Governor Theodore Orji in Abia while Chukwu has been endorsed for Ebonyi State governorship seat. Maku wants to challenge the All Progressives Congress

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

L-R: Chukwu, Ortom, Maku and Wogu

(APC) government of Tanko Al-Makura in Nasarawa. Obanikoro is making a second attempt in Lagos. He lost his first bid in 2007. Wike is after Governor Rotimi Amaechi’s seat in Rivers while Ortom wants Governor Gabriel Suswam’s job in Benue. Ishaku is contesting for the ailing Governor Danbaba Suntai’s seat in Taraba State. Surprisingly, three ministers – Bala Mohammed (Federal Capital Territory), Kabiru Turaki (Special Duties), and Bashir Yuguda (State for Finance) have shelved their governorship ambitions in 2015 to keep their jobs. Mohammed was to contest the Bauchi State governorship while Turaki wanted to take another shot at the Kebbi governorship seat. Yuguda aimed for the Zamfara governorship. Last week’s resignation was the first time a large number of cabinet members will resign to pursue governorship contest. In the last cabinet reshuffle that President Jonathan did, only four ministers – Caleb Olubolade (Police Affairs), Godsday Orubebe (Niger Delta), Stella Oduah (Aviation), and Dr. Yerima Ngama (State for Finance) were dropped. The Chief of Staff to the President, Chief Mike Oghiadhome was also affected in the exercise. The reason, according to the president, was to allow some of them pursue their political ambitions. In reality, Oduah was eased out because of the car

scandal she was involved in. Already, Olubolade lost in his ambition to govern Ekiti State. He lost the PDP governorship ticket to Ayo Fayose, now governor. Orubebe’s ambition to govern Delta State is being threatened with Governor Emmanuel Uduaghan not keen about his candidature. Ngama is still pursuing his governorship ambition in Yobe State. Olubolade is not the first minister to quit cabinet and lose governorship election. Lamido quit the Olusegun Obasanjo administration as Foreign Affairs Minister to contest the 2003 governorship poll which he lost until he was elected in 2007. Muktar Shagari also resigned from the Obasanjo government as Minister of Water Resources to contest the Sokoto State governorship, but the party ticket was given to Governor Aliyu Wamakko. Shagari has been a deputy governor since. Also Senator Suleiman Yusuf resigned as Youth Minister to contest the Sokoto governorship but lost. Rabiu Kwankwaso quit as Defence Minister to contest the Kano State governorship and lost in 2007. He was later elected in 2011. OdionUgbesia’s bid to govern Edo did not succeed. As Minister of Solid Mineral Resources, he had thought of governing the state but could not win the PDP primaries that produced Prof. Oserhermen Osunbor. He resigned his appointment in 2006. He is now a senator.

Hon. Ibrahim Bio did not make it to the Kwara Government House after he resigned as Transport Minister in 2010. While there have been several ministers losing their governorship ambitions, there have been those who have succeeded in their pursuit. The late Dr. Olusegun Agagu resigned as power minister to contest the Ondo State governorship and defeated an incumbent, Adebayo Adefarati (now late), in the 2003 poll. Isa Yuguda resigned as Aviation Minister in 2005 to contest the Bauchi governorship. When it was clear he would lose the PDP ticket, he defected to the All Nigeria People’s party (ANPP) and won the governorship in 2007. Dr. Olusegun Mimiko dared the consequence of his action when he left the Obasanjo administration as Minister of Housing and Urban Development to contest the 2007 election against the incumbent, Agagu, on the platform of the Labour Party (LP). After court battles, Mimiko was declared Ondo State Governor. Senator Liyel Imoke also left the Obasanjo government as Minister of Power to emerge as Cross River governor in 2007. With the exit of the seven ministers from the cabinet, it is not certain that all of them will get the PDP ticket. Maku, Wike, Obanikoro and Chukwu have higher chances of picking the party’s governorship ticket, but it will take mother luck for Ortom, Wogu, and Ishaku to pick the PDP ticket in their respective state.

Politics

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

BATTLE FOR GOVernmenT HOUSE

Will Wogu make it to Abia Govt House? Igbeaku Orji Umuahia

ntil last week the aspiration of Labour and Productivity Minister, Chief Emeka Wogu, to govern Abia State in 2015 had been muffled. It is on record that of all the governorship spirants that have so far shown interest in the coveted office, he is one of the few whose ambition had left analysts speculating over his political future until a valedictory session was held for him and six ministers at the Federal Executive Council (FEC) last week. But Wogu technically stepped into politicking recently. The event was the minister’s scholarship scheme in which no fewer than 75 undergraduates in various tertiary institutions in the country were beneficiaries. The occasion was the closest the minister had come to the contest. Unlike other aspirants who are actively crisscrossing the state ‘consulting’, Wogu has hitherto shown no sign of seriousness or commitment. It was at the event that three youth organisations of his Ngwa kinsmen namely Abiazurumee Grassroots Development Initiative, Ngwa Ambassadors Association and Aba Ngwa Political Consultative Forum led by Mr. Okey Nwachukwu, Mr. Major Ehiogu and Mr. Chima Mbama trooped to his residence at Aba and urged the minister to run for governorship in 2015. “We commend you for the exemplary way you have been piloting the affairs of the Labour and Productivity Ministry. We call on you to run for the Abia State gubernatorial race come 2015. This is in view of the fact that you are well qualified and that so far, there is yet no aspirant of our Aba North or Aba South origin in the race. You are the most easily

I accept your clarion call to serve Abia State and I owe you an answer at the appropriate time which will be soon. I am qualified to serve in the position you called me to

Wogu

sellable candidate,” his kinsmen said. He said: “I accept your clarion call to serve Abia State and I owe you an answer at the appropriate time which will be soon. I am qualified to serve in the position you called me to. I am still in service and will continue to obey and abide by the PDP rules and directive.” He recalled that he is not a novice in politics having been in the game since 1989 during which he held positions as elected and public officer. He also told them that he has the support of the state governor, Theodore Orji. He may not be campaigning or rather consulting openly but he has been sighted in some places consulting silently. Wogu, one must admit, is highly

favoured by his position as former Labour minister and the zoning policy of the PDP in the state. He hails from Aba in Abia South and unarguably the only aspirant so far to come from there. Also, he is said to be highly connected at the presidency and the Abia State Government. He has held several positions both in elected and appointed capacity. He served at various times as the local government chairman of Aba South and a special adviser to former Governor Orji Uzor Kalu. His last place of assignment before becoming Minister of Labour and Productivity was in the board of Revenue Mobilisation, Allocation and Fiscal Commission. Wogu is said to be detribalized in the sense of seeing issues from a nationalistic perspective, but this is also the problem he has with his people. They believe that charity begins at home, and that as a minister he could use his position to get the governor or other agencies like the Niger Delta Development Commission (NDDC) to rehabilitate the road leading to his Iheoji home but did

not. They describe him as so aloof that they are afraid whether he will make a good governor. One even prayed that the governor and the presidency do not foist him on them. The source also lamented that he could impact on the people and the area much with his position but felt disappointed that there is no impact at all, “except of course giving employment to a couple of individuals.” He will be running against opponents who are no less tactical politically. And it is the envisaged struggle in which brotherhood and caution might be thrown overboard as the aspirants from the South of the state including Senator Enyinnaya Abaribe, Acho Nwakanma, Friday Nwosu, Marc Wabara and Okey Emuchay fight for the ticket that those in the race from outside the zone are waiting to exploit. And it is difficult to see anyone concede the position to the minister as a consensus candidate. For example, Abaribe is not a push over by any standard and he thinks he has the credentials to aspire to the office. He is living nothing to chance. His campaign team is on the move not only in the South but also in other zones of the state. Nwakanma, a two-time former deputy governor, won election first as the member representing Obingwa East in the state House of Assembly from where he was drafted to serve as deputy governor, first to former Governor Orji Uzor Kalu and later his successor, Theodore Orji. He is also in the good books of the governor having proved his loyalty beyond doubt. In fact, it was said that the constitutional requirement against taking oath of office more than two times barred him from a third time as deputy governor. It was not easy to find a replacement. They have all committed enormous resources to the project and will hardly be persuaded to buckle. Emuchay and Wabara are also highly connected. Wabara’s campaign office in Umuahia is bubbling with activity. It will take intense lobbying and negotiation to produce a consensus candidate among them. If they all decide to slug it out at the primaries, the zone may lose it altogether as votes from the South would be divided along personality lines. With the reality on ground, it is not certain if Wogu has enough goodwill to get the Peoples Democratic Party (PDP) ticket.

Maku confident of victory after 2007 failed bid Cheke Emmanuel

ith the exit of former Information Minister LabaranMaku from the Federal Executive Council (FEC), his battle for the Nasarawa Government House has been reactivated. His first attempt in 2007 was a failure. He had thought of succeeding his principal, Governor Abdullahi Adamu, who appointed him as Commissioner for Information and later nominated him as a running mate in his second term. He was confident of winning the PDP governorship ticket for the 2007 elections. But when the votes were counted at the primaries, he lost the ticket to Aliyu Akwe Doma, who went on to win the election. Doma, however, lost his re-election in 2011. Maku is confident that this time around he would pick the PDP ticket for the February 28,

All we need is prayers and thank God for what He has done for me, not for what we are looking at, being governor will not really add anything to my name. I think I have made all the name I could make in Nigeria. But this sacrifice is for my people, to liberate my people

Maku

2015 governorship election. No fewer than seven aspirants have indicated interest in the governorship. New Telegraph learnt that the recent attempt made by the

leadership of the party in the state to arrive at a consensus candidate ended in stalemate. This has made the contest an open race. Doma, the immediate past

governor of the state, has not shown interest in the governorship position again. With Doma out of the governorship race, Senator Solomon Ewuga is the major obstacle to Maku in picking the PDP ticket. Ewuga contested the 2007 governorship election on the platform of the defunct All Nigeria People’s Party (ANPP) and lost to Doma. He worked for the victory of Governor Tanko Almakura in the 2011 election, and was elected senator. When he parted ways with the governor, he defected to the PDP. Politically, Ewuga is more grounded in the state. Former Governor Doma is reportedly backing Ewuga for the PDP ticket. Doma controls the party structures in the state and his support for Ewuga may threaten his ambition. It is generally believed that with Doma behind CONTINUED ON PAGE 15

Politics

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

BATTLE FOR GOVernmenT HOUSE In this report, WALE ELEGBEDE examines the chances of the immediate past Minister of State for Defence, Senator Musiliu Obanikoro in the race for the Lagos State governorship ticket of the Peoples Democratic Party (PDP)

ith his political antecedents, Musiliu Obanikoro is synonymous with Lagos politics, but the categorization over what defines his personality, however depends on which side of the divide the assessor looking from. Having come through the ranks from being the executive chairman of Lagos Island Local Government, Obanikoro is arguably the most dutiful politician in Lagos with different appointments in successive administrations since the advent of the Fourth Republic. No doubt, his decision to resign his appointment as the Minister of State for Defence may have ruffled some feathers within and outside Lagos. Some political analysts, however, believe that the former envoy may have counted his chicken before the eggs hatched as the political equation on ground may not be to his advantage. But some also believe that he has the backing of the presidency and the Peoples Democratic Party (PDP) headquarters for the party’s ticket. Whichever way it swings, it is only left to be seen where the pendulum will swing for the party in the state. Obanikoro’s political journey He made his foray into politics during the National Republican Convention (NRC) era in early 90s and since then; there has been no looking back for him. After serving as the chairman of Lagos Island Local Government in 1998, he got appointed as the Commissioner for Home Affairs and Culture in 1999 in the government of Asiwaju Bola Tinubu. By 2003, he was elected Senator representing Lagos Central in 2003 on the platform of the Alliance for Democracy (AD). Though he was regarded as one of the closest allies to Tinubu, he left the AD and Tinubu for the PDP on the premise that the party lacks internal democracy. In 2007, Obanikoro became the PDP gubernatorial candidate, though his candidature was not without measures of controversies. Hilda Williams, widow of the Engr. Funsho Williams, had been declared winner of the Lagos PDP primaries, but the PDP leadership in Abuja gave the ticket to Obanikoro after another round of primaries. A disunited PDP lost the election to Babatunde Fashola

Again, Obanikoro guns for Lagos governorship From all sides, Obanikoro’s prospect looks bright especially with the desperation of his party to woo residents for the presidential election

Obanikoro’s campaign office at GRA, Ikeja, Lagos

of the Action Congress (AC). In 2008, Obanikoro got appointed as Nigerian High Commissioner to Ghana. After his diplomatic circuit, he was appointed chairman of the Industrial Training Fund (ITF). In February 2014, Obanikoro was appointed as the Minister of State for Defence by President Goodluck Jonathan before his resignation last week. The muddled 2007 governorship primaries Following the brutal murder of Funsho Williams who had been projected as the party’s governorship candidate for the 2007 election, the PDP stakeholders in the state led by Chief Bode George, decided to give William’s widow, Hilda, the party’s ticket. This was not meant to be as the primaries turned out to be a theatre of the absurd.

In fact, the two different primaries held inside the National Stadium, Surulere for two days produced different results. In the ensuing drama, the electoral panel chairman for the state, Babatunde Ogundele declared Hilda winner of the election while the Ahmadu Ali-led National Working Committee (NWC) of the PDP declared Obanikoro as the winner. It was a protracted crisis which bred more crises after the primaries and with a divided house, the party lost the election. His chances Without doubt, there is a vast difference between the 2007 contest and the present race. Perhaps, the major constant factor that may challenge Obanikoro would be Chief Bode George. With George already rooting for Jimi Agbaje, it is left to be seen how the re-enactment of the

INSET: Obanikoro

2007 collision will be between the two familiar foes. For some ‘KOROBUCCI’ members, a group supporting the former minister, their principal has the backing of the presidency and the party headquarters. They even claimed that President Jonathan had already given his blessings to his (Obanikoro) candidature. Also, Obanikoro’s relationship with the new governor of Ekiti State, Ayodele Fayose seems to be adding some plus for his ambition. With his formidable grassroots connectivity and degree of cleverness among foes, he is definitely going to be a headache to other aspirants. Up until now, he had sizeable core loyalists among the delegates and he singlehandedly drew up the list of local government executives in the state during the last congress. From all sides, Obanikoro’s prospect looks bright

especially with the desperation of his party to woo residents for the presidential election. His weaknesses Many still see him as an ally of Tinubu and fear that he may play ball with the party’s chances if approached by his former boss. Also, there are issues about his personality for the plum Lagos job, and this, analysts said may affect political support for the party. Some critics have also described him as a desperate politician who aims to eat with both sides of the mouth at all times. Citing his appointment as minister, they averred that he should allow others have a feel of political offices. But the biggest challenge on his sleeves would be how to surmount the menace and influence of George and win the needed support of delegates for the ticket.

Maku confident of victory after 2007 failed bid C O N T I N U E D F R O M PA G E 1

Ewuga, Maku may not get the PDP ticket, except the presidency wades in. The snag in Ewuga’s candidature is the indictment by the commission of inquiry into Alakyo killings. Alhaji Yusuf Agabi, a retired civil servant is one of the governorship aspirants in the PDP. He is the only aspirant that has opened campaign office in the state, with billboards mounted across the state. He is not popular among the populace. Another contender is Senator John Danboyi, who was in the National Assembly between 2003 and 2007. He lacks the financial muscle to pick the PDP ticket ahead of Maku. One of the major contenders against Maku is Chief John Micheal Abdul, a former deputy governor of the state. Abdul, a Managing Director of Lion Bank,was deputy to Doma. He has the financial muscle to fund his campaign, but his chances of picking PDP’s ticket is narrow because he doesn’t have a strong political base.

Former military administrator of Zamfara State, Colonel Bala Yakubu, incarcerated for his alleged involvement in the murder of Kudirat Abiola, is also in the race. He is not a serious contender for the ticket. At a special mass thanksgiving by Maku held at the Catholic Diocese of Lafia, St. Patrick’s Parish, Akwanga, Nasarawa State, said it was time to sacrifice the comfort of a ministerial position at the centre to join his people and go into the wilderness in Nasarawa State to stop the killings, miscarriage of justice and liberate the people in the state. Maku, who said he was a typical example of grass to grace because of God’s favour, as he was born to peasants farmers who did not even record the date of his birth in a village that is liken to the biblical reference that “can anything good come out of Nazareth,” assured that he was not going to politics for the gains of office but to liberate his people.

He said: “Just thank God for me, just pray for me because by next week October 20, anyone in the cabinet that wants to contest election must step down because the time has come for us to do that. “It is time to make my interest known. By the grace of God, I will sacrifice the comfort of a minister, to go into the wilderness. I want to sacrifice the comfort of the high office that I am in now to join my people in the wilderness in Nasarawa State to fight for peace and justice in this state. “There may be giants out there, all over, but like Caleb we trust God, we are able to conquer, we are able to subdue. So, all we need is prayers and thank God for what He has done for me, not for what we are looking at, being governor will not really add anything to my name. I think I have made all the name I could make in Nigeria. But this sacrifice is for my people, to liberate my people,” he said.

16 Politics

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

BATTLE FOR GOVernmenT HOUSE

Ortom: Undertaking a risky venture Former Minister of State for Trade and Investment, Dr. Samuel Ortom, battles 13 other aspirants for the Peoples Democratic Party (PDP) ticket in Benue State, writes CEPHAS IORHEMEN

rtom is not a neophyte in politics. He was elected chairman of Guma Local Government Area between 1991 and 1993 on the platform of the Social Democratic Party (SDP). He was the state publicity secretary of the defunct National Centre Party of Nigeria (NCPN); State Treasurer of the defunct All Peoples Party (APP) and Secretary and later Deputy State Chairman of PDP. The governorship hopeful also served as Director of Operations of the PDP gubernatorial campaign in 2007 and Director of Administration and Logistics of the Jonathan/ Sambo Presidential campaign

Campaign office of Ortom located along old Otukpo Road, High Level, Makurdi

organisation in 2011. Through the instrumentality of Governor Gabriel Suswam, Ortom became the National Auditor of the PDP before he was appointed Minister of State, Trade and Investment by President Goodluch Jonathan. Ortom has endeared himself to the people of the state through his Oracle Business

Foundation which has employed thousands of youths across the 23 local government areas of the state. It is, however, uncertain that Ortom will get the PDP ticket. His chances of succeeding Governor Suswam is slim. His relationship with the governor is not that cordial owing to his fraternity with former governor of the state, Senator

INSET: Ortom

George Akume. But a source said he had mended fences with the governor. Ortom is also close to Senate President Senator David Mark. The former minister has a financial war chest to prosecute his ambition. He is favoured by the zoning arrangement, being a Tiv man from the MINDA political bloc

where the next governor is likely to emerge from. With the party structure in the hands of the state governor, it is doubtful if Suswam will allow Ortom pick the PDP ticket against some of his political associates whom he propped up for the race. Ortom has said he would not defect to the All Progressives Congress (APC) even if he loses at the primaries, as being speculated. Expressing confidence that he would win the PDP ticket, he said: “I am not a pessimist and so I don’t see how I will not win the nomination. By the grace of God, I will be given nomination. Why will I have to leave the party that has been very helpful to me? I have been the secretary of the party for six years, deputy chairman for one year, National Auditor for four years and now a Minister for three years as a PDP man. What will I be looking for in another party?” Indeed, Ortom is taking a big risk. The outcome of the governorship primaries in December will show whether he had made a good choice by trading in his ministerial seat for a chance to be governor of the state.

Wike goes for Amaechi’s seat amidst crisis Emmanuel Masha

ased on the strong presence of the immediate past Minister of State for Education, Barr. Nyesom Wike in the politics of Rivers State, his supporters argue that he is the biggest politician in the state after Governor Rotimi Amaechi, and as such should succeed the governor despite being from the same senatorial district. His recent resignation from President Goodluck Jonathan’s cabinet to pursue his governorship ambition is a clear indicator that he feels the cap fits him. Right from his days as chairman of Obio/Akpor local government area, he made it clear he was moving for greater trophies, by teaming up with Amaechi to fight the governor’s ‘K-leg’ issue to a standstill all the way to the Supreme Court. Incidentally, Obio-Akpor Council was the centre of the bitter quarrel between the Peoples Democratic Party (PDP) and the Amaechi-led All Progressives Congress (APC), shortly after the state House of Assembly suspended Hon. Timothy Nsirim, a loyalist of Wike. In the last few days in Rivers, there have been concerns over the issue of zoning, which proponents declare should be considered in the forthcoming election. The issue has generated mixed reactions from across the length and breadth of the state. To observers, the question is: can he confront an organised opposition within the PDP, made up mainly of a political block from the Kalabari axis, who strongly feel that it is their turn

Wike

to produce the governor? Politicians from the axis have been meeting under the arrangement of some elders, who want to avoid crisis that might arise from disagreement between their sons. Wike’s main strength is the fact that he has an impressive structure within the PDP. It was the prize for wrestling the party’s structure from Amaechi. Some PDP insiders say he sacrificed his money, time and energy to get to the enviable position he occupies in the party. With his Grassroots Democratic Initiative (GDI), a group within the PDP that has grassroots reach across the

23 local government areas of the state, he is far ahead of his peers. He had an eye for the big picture, even though he never felt he could lay claim to the governorship. The main thing going for Wike is the fact that he understands the politics of Rivers like the back of his hands. He redefined the role of the Chief of Staff by connecting with council chairmen, whose activities he coordinated, as well as other noticeable politicians that had something to offer. Wike was at his very best during the re-election campaign of Amaechi, where he strategized with local party stalwarts to deliver victory for the party. He knew ward chairmen or leaders by name, and at campaign rallies, mentioned the positions that were given to local party leaders when some alleged marginalisation. He was so feared by council chairmen, that some of them hibernated whenever Wike was in his element. It was the same for some commissioners, who were dreaded inside Government House. According to a source, some of these politicians are still in touch with Wike, especially those that Amaechi has relieved of their duties. The thinking in many quarters, is that if things remain the way they are, if the national leadership of the PDP allows stakeholders in Rivers to slug it out, Wike will most likely get the party’s governorship ticket. There is no gainsaying that Wike controls the PDP in Rivers, but whether or not he is able to withstand the pressure, and escape the attention of the party’s national leadership remains to be seen. If the national leadership prevails on Wike to abandon his ambition, or if

he contests and loses, there is the possibility of him returning as a minister or becoming an ambassadorial nominee. Among aspirants that have lined up for the governorship ticket, three of them stand out. They are Barr. Dumo Lulu-Briggs, who has mounted a strong campaign; Dr. Bekinbo Dagogo-Jack, who even though is in Abuja most times, because of his job there, has a solid reputation and structure in the state. And there is Prince Tonye Princewill, who contested in 2007, and has since remained in the political limelight. It appears that Wike’s governorship ambition could lead to a kind of merger or understanding between the factions in the PDP that are against his ambition and the APC. Shortly after he resigned, the APC said it was happy that Wike has shown interest in the governorship. The state APC chairman, Dr. Davies Ibiamu Ikanya, noted that Wike has nothing to offer the people of the state, and that his resignation will help the APC to win in 2015. Ikanya also said that Wike would help the APC to bury the “dead” PDP in the state, noting that the former minister may be plotting to retire in politics via his resignation. Also commenting, a PDP chieftain, His Highness Anabs Sara-Igbe, who was allegedly beaten up by thugs suspected to be loyal to Wike in Abuja during a reconciliatory meeting of aggrieved party members, welcomed Wike’s resignation. Sara-Igbe, who is strongly pro-zoning and against the emergence of Wike as governor, added that he was free to test the political waters in the state.

Politics 17

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

BATTLE FOR GOVernmenT HOUSE Prof. Onyebuchi Chukwu seems set to become the next governor of Ebonyi State in 2015, writes CHARLES ONYEKWERE

Ebonyi: Chukwu primed as Elechi’s successor

he entrance of the former Minister of Health, Prof. Onyebuchi Chukwu, into the Ebonyi State governorship race was a big surprise to many. Many had expected that he would continue to render service at the federal level given his performance in the sector especially the recent containment of the Ebola Virus Disease (EVD). But Chukwu has chosen to govern his state. Virtually all the stakeholders in Ebonyi, particularly within the Peoples Democratic Party (PDP) have endorsed him as the PDP governorship candidate in the 2015 election. His endorsement followed a closed-door meeting held on Monday October 6, at the Ebonyi Government House in Abakaliki, the state capital. The meeting which had in attendance PDP caucus members, comprising of lawmakers, stakeholders and youth leaders across the 13 local government areas of the state, lasted for more than six hours. The governorship seat had been zoned to Ebonyi South Senatorial District where Chukwu hails from. On the eve of the caucus meeting, two governorship aspirants – Prince Sam Agom Eze and Chief Ben Akpa, a former commissioner of Commerce and Industry, stepped down for Chukwu. It was learnt that Governor Martin Elechi, who chaired the meeting, said zoning the governorship to the south was to compliment the immense contribution of the late Akanu Ibiam, an indigene of Afikpo North Local Government Area. At the meeting, the stakeholders unanimously endorsed the former Health Minister. Governor Elechi requested the minister to make himself available for the governorship seat in the 2015 general election as a consensus candidate. Confirming the endorsement, the state Commissioner for Information and Orientation, Dr. Chike Onwe, said the resolutions were taken in good faith for the old Abakaliki bloc. Onwe noted that part of the resolutions reached was that all Abakaliki people should support the power shift arrangement in the interest of peace and mutual co-existence of the various

to desist from polarising the state along ethnic lines capable of encouraging marginalisation and divisiveness. Similarly, a former Commissioner for Environment in the state, Engr. Paul Okorie, condemned Chukwu’s endorsement, describing it as an imposition of a sole candidate by the PDP. Okorie has declared for the gubernatorial race on the platform of PDP. Other aspirants vying for the governorship seat are Deputy Governor of the state, Engr. Dave Umahi, and chairman, Senate Committee on Police Affairs, Senator Paulinus Nwagu. But with the support of Governor Elechi and the PDP caucus, Chukwu is primed for the party’s ticket. The former minister also has the support of the powers that be in the state. With PDP’s ticket, Chukwu is on his way to the Government House. This is so because the opposition parties, especially the All Progressives Congress (APC) and the All Progressives Grand Alliance (APGA) are not on ground in the state. Since the state congress that produced Chief Ben Nwobasi as APC state chairman was held, the party has been in disarray and divided into two different groups and have been holding parallel meetings. In the last four months, APC has been engulfed in a leadership crisis, following a petition written by some aggrieved members of the party loyal to Dr. Ogbonnaya Onu-led faction, calling for the cancellation of the congress that produced Nwobasi and the other group led by Dr. Julius Ocha. Also, APGA is not on ground as the party is faced with leadership crisis and has no functional state office, which has led to the defection of some of its members to the PDP. Senator Anthony Agbo, who represented Ebonyi North in the National Assembly, is the only figure vying for the governorship position on the party’s platform. With the political configuration of the state, anybody who picks the PDP governorship ticket has a greater chance of becoming the governor in 2015. And for Chukwu, he is the governor in the waiting.

Chukwu

sections of the state. Chukwu’s adoption, it was further gathered, may have been informed by the fact that he is not a controversial figure. Since the caucus endorsed Chukwu, series of other endorsements have followed. The Ebonyi Youths Assembly has endorsed the former minister as the PDP consensus candidate in the 2015 governorship election. The group comprises of youths from across the 13 local government areas of the state. Despite the commendation that has trailed Chukwu’s endorsement; some stakeholders from the six local government areas in the old Abakaliki political bloc of the state faulted the purported adoption. The group, in a statement signed by Chief Michael Okah, warned promoters of the adoption

Taraba: Danjuma, Suntai’s camp mobilise for Ishaku SABIU MUSTAPHA writes on the chances of Arch. Danius Ishaku who has resigned his appointment as minister to contest the Taraba State governorship

he battle for the governorship ticket of the Peoples Democratic Party (PDP) in Taraba State promises to be interesting. Minister of State for Niger Delta Affairs, Arch. Darius Ishaku, has thrown in the towel to contest for the governorship seat. “I’m propelled by the call from my people in Taraba to emancipate them from continued crisis. I have contributed my quota to improve power sup-

ply while serving in the sector, assisted in reducing youth unrest in the Niger Delta. I remain grateful to President Goodluck Jonathan for the opportunity to serve the country. It is time to offer service to my state at the governorship level,” Ishaku told New Telegraph. In 2011, President Jonathan, appointed Ishaku as Minister of State for Power. He became the Acting Minister of Power in October 2012, and later became the Minister of State for Niger Delta Affairs, following a cabinet shake up. Governor Danbaba Suntai would have been a deciding factor in who becomes governor of the state in 2015, but his health has failed him in this regard, no thanks to the injuries he sustained from a crash aboard the plane he piloted on October 25, 2012. Already, three major aspirants are vying for the PDP governorship ticket in the state – the Acting Governor, Alhaji Umar Garba, Ishaku and Chief David Sabo Kente. As it stands, the race is strictly between

Garba and the former minister. Ishaku is the candidate of former Minister of Defence, Gen. Theopilus Danjuma and the Suntai camp. Danjuma had proposed Ishaku as the consensus candidate but other aspirants, especially the acting governor are kicking against this. Apart from lack of popularity in the state, some aspirants from Ishaku’s district have refused to accept him as a consensus candidate. Kente has said he is going ahead with his campaign. Ishaku’s chances became bright with the withdrawal of Senator Emmanuel Bwacha from the race. The senator is the arrowhead of the Suntai camp. And with the support of Danjuma, the former minister might pick the PDP ticket. One major factor that may be an advantage for Ishaku is zoning. In Taraba, the issue of zoning of the governorship in 2015 is gaining momentum. The people of the Southern Senatorial District, where the ex-minister hails from, are agitating that power should shift to their

Ishaku

zone in 2015. Since the creation of the state in 1991, the Southern District has not produced a governor. Rev. Jolly Nyame, who governed the state twice, (1992-93 and 1999-2007), hails from the Northern District. Ailing Governor Suntai is from the Central District. The major obstacle to Umar’s ambition is his inability to take over the PDP structures in the

state. The acting governor and the state chairman of the party, Mr. Victor Bala Kona, are not in good terms. Several efforts have been made without success by Umar to take over the structures of the party. The party may not do his bidding for the ticket, which may be to Ishaku’s adventing.

SOLOMON’s interview on page 20

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Opinion

Muammar Gaddafi: Three years after

Emeka Ibezim

oday 20th October 2014 marks exactly three years when Muammar Gaddafi’s life and regime ended in Libya. Muammar Muammad Abu Minya al Gaddafi, these were the original names given to him by his parents. Variously given other names like King of Kings, Lion of Africa, Guard of the Revolution by his admirers and tyrant, rogue, dictator by his detractors, Gaddafi’s life came to a disastrous end on 20th October 2011 after he was captured and killed by rebels loyal to the National Transition Council and NATO, after leading Libya for more than four decades. Today three years after, post - Gaddafi Libya is in turmoil as die hard militia groups step up their game in the bid to have the upper hand and dominate politics as well as control the country’s oil reserve. Since the outcome of the parliamentary election that took place in 2012, tension has been palpable, continuous violence has culminated in assassinations and counter assassinations of perceived political opponents among the rival groups. Hundreds of people have been killed, Thousands have fled the country including staff of diplomatic missions and properties worth billions of dollars have been destroyed. For a long time, Libya virtually had no stable leader following the vacuum created by the exit of Ali Zeidan and Ahmed Maiteg, although respite came few weeks back with the appointment of Abdullah al Thinni as prime minister by the parliament. However, the prevailing anarchy in Libya may likely overwhelm al-Thinni that he will find it difficult to restore law and order without seeking outside help. Al-Thinni is actually making efforts towards that, but the outcome is yet to be seen, as the violence has continued unabated. The pertinent question that rightly comes to mind here is who will save Libya from disintegrating? Is it the United States of America, United Nations or the North Atlantic Treaty Organization ? Remember the latter stood solidly behind the rebels during the insurrection against Gaddafi. This is a question for the students of Middle East politics to unravel. Unfortunately, the Arab League which is saddled

Today, three years after, a post - Gaddafi Libya has yet become epicenter of terrorism, suicide bombing and hostage taking. In fact, the current dynamism in the conflict is becoming very frightening with the responsibility of resolving conflicts in the Middle East has been rendered irrelevant with the ideological differences of member states along western and eastern lines. There is no need to emphasise here that Gaddafi’s regime ended on a disastrous note. But there is the need to state that his regime started very well after assuming power in 1969 and continued to a very large extent before it went into the abyss in October 2011. Libya under Gaddafi between 1969 and the year 2010 witnessed astronomical growth economically, politically and socially. As at 2010, Libya ranked 53rd on the human development index out of 170 United Nations member states making it a high human development nation and one of the richest in the world in terms of GDP per capital income: with a living standard higher than that of Japan. Gaddafi’s legacies include the right to free education and post graduate studies home and abroad. Under Gaddafi there was free health care, interest free housing loans, hignly subsidized tariffs on electricity, fuel and food items like bread. In his oil sharing scheme, every Libyan got $500 in their account from the national income. Another pertinent question that rightly comes to mind is, what was Gaddafi’s nemesis? This question can be answered in two ways; externally and internally. Externally it was posited that Gaddafi stood against western attempts to re-colonise his country. In their attempt to discredit him, they perceived Libya under his regime as an epicenter of terrorism, tyranny and oppression. He was linked with the Lockerbie bombing and terrorist outfits like the Irish Republican Army, Al Qaeda and so on.

Internally, Gaddafi’s nemesis was that he over stayed his welcome. The longest serving Arab leader who later became god unto himself and those who tried to question his authority paid dearly for it. It was alleged that he later became corrupt, stockpiled arms in which he hoped to use to quench any insurrection against his regime because he wanted to rule for ever. The revolution that swept across North Africa in 2011 which earlier claimed the regimes in Egypt and Tunisia gave the opposition the golden opportunity to pounce on Gaddafi and ended his regime. Today, three years after, a post - Gaddafi Libya has yet become epicenter of terrorism, suicide bombing and hostage taking. In fact, the current dynamism in the conflict is becoming very frightening. The disturbing aspect of it is that the county has become a major source of illegal traffic of dangerous weapons to other countries. A recent United Nations report reveals “that transfer from Libya to 14 countries reflects a highly diversified range of trafficking of sophisticated dangerous weapons: and that trafficking from Libya is fueling conflict and terrorism globally” Like I asked earlier, who will save Libya now there is no stable army or police to tackle the activities of the various armed groups? The prevailing situation if not curtailed now will make Libya another Afghanistan, Iraq, Syria or Somalia and indeed the whole world will not find it funny. The prevailing situation, I think is a problem for the United Nations to handle. Maybe sending United Nations troops to Libya will help restore law and order thereby enable the country have an all inclusive representation in government that cuts across the divergent groups I will like to conclude this piece by saying that, though Muammar Gadaffi is no more, there are still many lessons to learn from his life and times as Libyan strongman. It is left for the students of history to determine his place in the history of contemporary Africa. More so, some of his contemporaries are still very much around. People like Blaize Campaore of Burkina Faso since 1987, Robert Mugabe of Zimbabwe since 1980, Omar Bashir of Sudan since 1989 among others. • Ibezim (mekusibezim4@yahoo.com) wrote in from Abuja

Who needs a poor President? Julius Oweh

n the philosophical norms and mores of Isoko people of Delta State, a child naming ceremony is a special occasion where the hopes and aspirations of the family are invested on the child by the choice of name. Name is not just a symbol of identification; it is strong philosophical message of what the parents want the child to be in future. My people disdain the literary assumption of the bard; William Shakespeare that a rose will still give you the same perfume if Who you call it by another name. `Odafe`, wealth or a rich person is a popular name among the Isoko as nobody will wish that his child would grow up to be poor even though some `Odafe` in this clime are poorer than church rat. Therefore, one is taken aback by the sense of sulphuric anger the presidency reacted to the latest ranking by an American website `RichestLifestyle` that President Goodluck Jonathan is the sixth richest president in Africa. For the giant of Africa and the largest economy in the continent, that position is poor rating. But the presidential spokesman Rueben Abati will take none of that and he made

his position known. Abati, a trained journalist and lawyer knows the implication of the rating as that is likely to paint the president as corrupt in the eyes of the electorate. He did not hide his venom for the report: `The presidency condemns the totally unwarranted inclusion of President Jonathan in the publication titled ``Africa richest Presidents 2014`` as another attempt to unjustifiably portray the president as a corrupt leader and incite public disaffection against him. As is well known, President Jonathan has never been a businessman or entrepreneur, but a lifelong public servant. The clear and unacceptable imputation of the claim that President Jonathan is now worth one hundred million dollars is that the president has corruptly enriched himself while in office which is certainly not the case`. Nothing could be better said than the defence of Abati and I suspect strongly that the late Oyi of Oyi, the irrepressible Dr Chuba Okadigbo, would be rolling in his grave about the rumblings in Nigeria. After all, Okadigbo replied those who accused him of corruption, that he was not in Abuja to spread poverty. In the same vein, even though the name of the president is not `Odafe`, coming from a poor background as a shoeless primary school pupil, his grey matters and luck carried him this far and the good people of Nigeria will not want their president to be poor. If a man could deploy his brains to get a doctorate degree, the same intellectual endowments can also make him to live above

average. Here we are talking of the President of the Federal Republic of Nigeria, a former vice president, a former governor and a former deputy governor and a man not known for reckless spending. Prudent savings can make him a millionaire in any currency without corruptly enriching himself. As a close pal of mine would say, what Abati did was simply `wasting his mouth`. President Jonathan sits atop the most vibrant economy in Africa beating South Africa to a second position. There are abundant oil and gas reserves and these are putting a lot of petro-dollars in the coffer, yet some smart guys in Washington want our president to wear the sack clothes of poverty. This is a nation where legislators are the highest paid in the world. There are many businessmen, pastors and entertainers flying private jets all over the place and you want our president to board a third class flight in a commercial passenger plane. This cannot stand in the face of economic logic and national prestige, and thank Heavens; there are state of the art planes in the presidential fleet. The accommodation, transport, feeding and medical needs of the first family are taken care of by the government and the president is free to save his salary and allowances. Or is it a crime that one should save money for the rainy day? If the American website`s intention was to cast the president in the mould of a corrupt leader, it has missed the woods for the trees. Today the anti-graft agencies

of ICPC and EFCC are after corrupt government officials and most of them are in the law courts fighting for their lives and in the lingo of born-again Christians, `gnashing their teeth`. The stereotyping and profiling of western media of African leaders as bad and corrupt must stop. There are many rich leaders in the Arab world and in some cases; one family treats such a nation as family estate. Even in American politics, it is not meant for paupers but millionaires because you have to spend a lot of money on campaigns and political adverts. Cross over to Russia and Vladimir Putin assaults you with his wealth and vast estate. I am even sad that the ranking placed my president, a Phd holder in sixth position in the class. I reject the ranking and all that it wanted to portray. Nigerians do not need a poor president where pastors, businessmen, sportsmen, musicians are playing in the millionaire league and going to Dubai and Caribbean islands for holidays and luxuriate in opulence. Let it be stated again and again that the president is not corrupt and those who think otherwise can go to the Code of Conduct Bureau to see his assets declaration forms. The president`s name is not `Odafe` but certainly many patriotic Nigerians do not wish him poor, and to borrow from the political template of Protectors of Nigerian Posterity, those who are for the president are more than those against him! • Oweh, a journalist, wrote in from Asaba.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

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The comatose steel sector

he Minister of Industry, Trade and Investment, Dr. Olusegun Aganga said recently that despite being the second largest producer of steel and iron ore in Africa, Nigeria still imports most of its steel and iron needs. Speaking during the pre-commissioning visit to the cold roll mill project of Kamwire steel industries, Ilorin, recently, the minister said any country that relied entirely on exporting raw materials without having a strong industrial and related services sector would remain poor. The minister who explained that Nigeria spends over N500 billion ($3.3 billion) every year to import items like roofing sheets, nails, roof tiles, head pans and gauze wire that are produced from steel and iron ore minerals, added that the money spent on the importation of these items might likely increase from $3.3 billion to $15 billion in the next decades if necessary measures were not put in place to arrest the trend. Noting that the industry presently creates more than 3,000 jobs, Aganga added that the employment capacity could multiply to 9,000 if the right things were done to promote growth in the sector. Aganga, therefore, said the Federal Government would con-

tinue to create enabling environment for private sector to drive the economy. “That is what we have done so far and which we need to do a little bit more,” he said. However, in a related development, the United Nation’s Industrial Development Organization (UNIDO) has ascribed Nigeria’s slow industrialization to underfunding of the industrial sector and lack of detailed industrial policy planning with little or no clear integrated investment and trade policies. And no country in the world can thrive by depending on exportation of raw materials, instead of finished products. Nigeria must engage in value-added activities by manufacturing products, which it is unfortunately not doing at the moment. The truth of the matter is that for any nation that desires industrial and technological advancement, the type that would address its employment problems, the steel industry remains the pivot of that endeavor. This is why it has become expedient for the government to pay serious attention to the development of the sector to achieve laudable milestones in its industrial revolution agenda. Stakeholders in the sector, therefore, want government to pay particular attention to the development

of the sector if Nigeria is to become one of the 20 leading economies in the world by 2020 and beyond. Steel mills in Nigeria can still survive if the government would invest in them and is determined to turn them around. Not much is happening at the steel companies now as most of them have been out of operation for a long period of time, and require a lot of money to rehabilitate them. If the government intervenes through investment, they could survive. To this end, government should as a matter of policy invest in the Ajaokuta and Aladja steel projects as well as the defunct steel rolling mills in Oshogbo, Katsina and Jos, so that industrial growth and development can take off in earnest in the country. All the politics and bureaucratic bottlenecks that could inhibit the resuscitation of this crucial sector of the national economy should be eliminated. The steel sector in developed economies is the highest employer of labour and it is treated as a strategic sector because of the positive multiplier effect it has on employment. Despite the abundance of natural raw materials such as limestone, ore and coal required for the production of primary steel, Nigeria’s iron and steel sector remains coma-

tose, having only a negligible local production. It experiences low return on investment and is heavily dependent on imports of steel. It is troubling that the nation continues to moan under the enormous burden of unemployment, but spends N500 billion annually on steel importations. It is appalling, for instance that, about $7bn had been sunk into the Ajaokuta steel plant since 1979 in a bid to get it up and running. The comatose nature of the industry has made the country rely heavily on the importation of iron and steel from other countries. In the 2014 budget, the Federal Government set aside N3.921bn for the salaries of the idle workers and for other recurrent expenditure at the Ajaokuta Steel Industry. This must cease. Unfortunately, even with the present administration’s launch of Nigeria Industrial Revolution Plan (NIRP) and Nigeria Enterprises Development Programme (NEDEP), the country still lacks clear-cut industrial policy that can take the country to the Promised Land. It is, therefore, imperative that government retrace its steps and get to the brass tacks by putting in place realistic steel and industrial policy that can drive growth and development in the country.

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Politics

Senator Ganiyu Solomon is the Senate Minority Whip and a chieftain of the All Progressives Congress (APC). In this interview with TEMITOPE OGUNBANKE, he speaks on his ambition to govern Lagos State in 2015. Excerpts: Why are you aspiring to govern Lagos State in 2015? I am not new in this struggle. That I am in this quest again is a testimony to my belief, commitment and determination towards a greater Lagos. I believe strongly that I have the knowledge, experience and commitment to deliver policies, programmes, projects and services that will enhance the quality of live of Lagosians. I started a business career after successfully completing my Bachelor of Science B.Sc degree in Political Science at the University of Lagos. The zeal to offer service later saw me contesting and winning a House of Assembly seat, closely followed by winning the chairmanship of Mushin Local Government. I served in that capacity between 1999 and 2003. During my stewardship as local government chairman, I undertook many people-oriented projects and programmes. I also contested and won the election as House of Representatives member for Mushin Federal Constituency I in 2003. In 2007, I was elected to the Senate, representing Lagos West District. In 2011, I was re-elected into the Senate and currently hold the position of Minority Whip. I have been engaged in philanthropy using the platform of GOS Foundation, which I set up to provide assistance in skills acquisition, educational development, micro-credit, healthcare and poverty alleviation. Beyond the legacy of being the son of a politician, I am self-made and my desire to become the governor of Lagos is borne out of the belief and determination to make a positive change in the lives of our people. At the risk of not sounding immodest, I wish to say that I stand as the most qualified among my colleagues also aspiring to the position of governor of Lagos, having contested and won elections into local government, state Assembly, House of Representatives and Senate. I hold an unblemished record of service at every level and position that it has pleased God to place me. APC has already zoned its governorship ticket to Lagos East Senatorial District and many people believe that you are from Lagos West. How do you intend to get the ticket? Many have raised questions on my political career and particularly the choice of Ikorodu as my base for the governorship contest. Those who raise these questions are not informed about my Ikorodu ancestry. My father, Alhaji Rafiu Ishola Solomon popularly called R.I of blessed memory was born at Ipakodo in Ikorodu to the family of Taiwo Solomon and Comfort Ogunsanya. Today, some may not also know that my father lived the early part of his adult life in Ikorodu where he became a successful businessman before he joined politics. His popularity here in this great town made him contest a councillorship seat, which he won, to represent Ebute Ikorodu at the Divisional Local Council in the 1940s when he was still in his 20s on the platform of Action Group (AG). It was to further the interest of this great political

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Solomon: I’ve waited for eight years to be Lagos gov me. They formed groups on my behalf; they fund the groups themselves. What else could I really demand? And this has given me enough confidence. With that support, there is nothing stopping us. Why do you have to change your political base from Lagos West to Lagos East just because of the governorship? The issue of religion is also coming up, I mean agitation for a Christian governor. How do you handle these issues? The politics in Lagos, if you go historical has been fluid; that means you can move from one particular senatorial district to the other; one federal constituency to the other and this has been happening for quite some time now and because I have my roots here in Lagos East, it is very convenient for me to come, first, because of the precedent and secondly because I belong here. So what else? About the religious aspect of it, this will be the first time anybody will bring the issue of religion into Lagos politics. It has never been before. If you go down memory lane, look at the array of aspirants that we had before, they went for primaries, it is a mixture of Muslims and Christians. But I think this one was done deliberately by some people in the party; perhaps to suit a particular candidate and it is not going to work because people are wiser now. What they need to know is about the candidate and they want the candidate they really have confidence in. The candidate they can trust regardless of religious background. Religion has never been an issue and I am also very careful when it comes to issue of religion; I don’t discuss religion just as I don’t discus personality. Solomon

camp that R.I left Ikorodu to establish a formidable base in Mushin in 1949. He was twice a councillor in Mushin Local Government Area. My father later became deputy state chairman of the Unity Party of Nigeria (UPN) in the state. He was a close ally of the late sage, Chief Obafemi Awolowo and contemporary of former Lagos Governor, Alhaji Lateef Jakande until the military took over in December 1983. Are you confident of wining APC primaries? By the grace of God, I will stand in the governorship primaries as the popular choice of the mass of our people on the platform of our great party, the APC. It is heart warming that our party has adopted the modified open primaries to select candidates for elective offices at all levels. This is a paradigm shift that will guarantee the choice of candidates favoured by the majority of our party members. I commend our party leaders for this laudable initiative and look forward to transparent and rancour-free primaries. I believe that with prayers, hard work, loyalty and support, we shall triumph. By the grace of Almighty God, I will be the fifth democratically elected governor of Lagos. Several people have indicated interest in the APC ticket. What makes you think that you will emerge victorious? The source of my strength is the backing I have from our party members and the electorate at large. People’s support is a source of inspiration to me; day in, day out, they come to pledge their support for

2015 is a different ball game all together. We now have a mega party and our party leadership said there is going to be primaries. I have also waited, you can say in the wings, for eight years or more, praying that this man will do well and I will have opportunity to give the governorship a shot again. So, what else will anybody offer me?

What is the level of support you get from the top hierarchy of the Lagos APC? The top hierarchy of the APC will not stand alone during the party primaries. I can tell you boldly that I have support of the top hierarchy of the party, but the other aspirants too will tell you that they have the support of the top hierarchy of the party. So, it is a 50 - 50 game. The best way to know who really gets the ticket is to go for the primary election. So, it has to be the sum total of the support, whether from the top, from the middle or from the bottom. It will be the sum total and whoever has the greatest support of all the layers of the party wins the ticket. In 2007 and 2011 elections you were given the senatorial ticket to assuage you for the governorship. Will you take anything other than the governorship in 2015? Let me go back quickly by saying I was not given; I was elected. So, they cannot give me something that is elective. However, 2015 is a different ball game all together. We now have a mega party and the party leadership said there is going to be primaries. I have also waited, you can say in the wings, for eight years or more, praying that this man will do well and I will have opportunity to give the governorship a shot again. So, what else will anybody offer me? This is not about taking what you don’t want. It is about what do you want? You don’t give anybody what he doesn’t want. I know what I want based on my consultations with my people. They have unanimously agreed that we should give the governorship everything that it takes, so that we get there. So, that is exactly what we are doing now.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Insurance

Stock Watch

Interview

Ikeja Hotels Plc: Grappling with operating challenges

Insurance sector critical to Nigeria’s transformation, says Oteh

Cabotage: Government policy allows Nigerians front for foreigners, says NISA boss

Business Aged engineers endanger What's news

Govt improves security at airports, says FAAN The Federal Airports Authority of Nigeria (FAAN) said it is improving security process across the 22 airports owned by it through the installation of safety and security equipment.

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7.3bn passengers for air travel by 2034 –Report The International Air Transport Association (IATA) Passenger Forecast report has projected that eight of the ten fastest-growing markets in percentage terms will be in Africa with Nigeria, Central African Republic, Madagascar, Tanzania, Burundi and Kuwait making up the five fastest-growing travel markets.

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Nigeria’s business density index to hit 100% The National Summit on entrepreneurship and innovation (NSEI) targets to boost Nigeria’s business density index to 100 per cent by next year, Chairman, African Centre for Business Development Strategy and Innovation, Mazi Sam Ohuabunwa, has said.

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The Business Desk

Ayodele Aminu l Deputy Editor (Business) Bayo Akomolafe l Asst. Editor (Maritime)

Sunday Ojeme l Asst. Editor (Insurance)

Godson Ikoro l Asst. Editor (Money Market)

Dayo Ayeyemi l Property Editor

Adeola Yusuf l Energy Editor

Wole Shadare l Aviation Editor

Chris Ugwu l Capital Market Editor Abdulwahab Isa l Finance Editor Kunle Azeez l Senior Correspondent Chuks Onuanyin l Energy Nnamdi Amadi l Reporter Johnson Adebayo l Asst Production Editor

$18bn power investments DRAUGHT NAPTIN says DISCOs, GENCOs and others are short of 8,000 skilled workers

over distribution and some generation assets on Friday, November 1, 2013, have earlier revealed plans to invest $18 billion in the sector to boost power supply, which stands at around 3,500 Mega Watts

(MW) for 170,000 Nigerians. Most of the private owners of the electricity generating and distribution companies, he said, “may not afford to establish their own training school hence the need to part-

ner with NAPTIN to provide them with world class training. “If we are working with these organisations and CONTINUED ON PAGE 36

Adeola Yusuf

ged and retiring engineers form the bulk of skilled workforce in the Nigerian power sector, investigation by New Telegraph revealed, as this poses new threat to investments in the sector. The chain of electricity, which covers generation, transmission and distribution, had about 18,000 staff after privatisation, 85 per cent of who are non-technical staffers. The National Power Training Institute of Nigeria, NAPTIN confirmed that most of the technical staff who form the skilled work force are aged, retiring and are in need of replacement. Director-General, NAPTIN, Reuben Okeke, posited that majority of the technical staff in the power sector are retiring “so we have huge manpower gap.” The nation’s target of 40, 000 MW power generation slated for2020, needs over 8,000 engineers to actualise. “We are talking of almost 8,244 new engineers that will be required, trained engineers, skilled engineers that will be required to support 40,000 megawatts by the year 2020,” he told Sweet Crude. The new owners who took

L-R: Faith Tuedor-Matthews, GMD, Mainstreet Bank, Dr. Ufuoma Okotete, Rear Admiral Itunu Hotonu, Bishop Juanita Nwendu, Prof. Mrs. Francisca Omorodion and Dr. Rukwew Ogwumba during the Women Leadership Summit in Asaba, Delta State.

Liquidation: BPE silent on NITEL’s fate Kunle Azeez

he Bureau of Public Enterprises (BPE) has refused to disclose its new line of action to the public following the announcement of two companies shortlisted to participate in the guided liquidation of the National telecommunications Limited (NITEL) and its mobile arm, the Mobile Telecommunica-

tions Limited (M-Tel). Already, stakeholders are becoming frenetic on whether the on-going ‘guided liquidation of the nation’s telecoms entity will not end in fiasco just as previous failed attempts to sell the telecoms incumbent. When New Telegraph contacted the BPE’s spokesperson, Mr Chigbo Anichebe, several times on phone for two weeks to respond to me-

dia enquiries on the state of the NITEL guided liquidation, he constantly promised to get back to our correspondent on the issue but to no avail. The National Council on Privatisation had, on August 4, 2014, okayed two firms for the guided liquidation of NITEL and its mobile arm, M-Tel. CONTINUED ON PAGE 22

Rates Dashboard INFLATION RATE August 2014............................8.5% July 2014.................................8.3% May 2014.................................8.2%

LENDING RATE InterBank Rate....................11.57% Prime Lending Rate...........16.93% Maximum Lending Rate...25.83%

EXCHANGE RATE

(Parellel As at Oct 17)

USD . . . . . . . . . . . . . . . . . . . N156.75 Pounds . . . . . . . . . . . . . . . N254.68 Euro . . . . . . . . . . . . . . . . . . N198.08

l Foreign Reserves – $39.41bn as at 16/10/2014

Source: CBN

EXCHANGE RATE (Official As at Oct 17)

USD . . . . . . . . . . . . . . . . . . . . N155.76 Pounds . . . . . . . . . . . . . . . . . N249.01 Euro . . . . . . . . . . . . . . . . . . . N198.50

Business | News

OVERSIGHT

FAAN provided an effective platform for a successful fight against Ebola

Wole Shadare

he Federal Airports Authority of Nigeria (FAAN) said it is improving security process across the 22 airports owned by it through the installation of safety and security equipment. FAAN’s Managing Director, Saleh Dunoma, stated this in a message to the Airports Council International (ACI) Africa Regional Assembly hosted by Airport Company South Africa (ACSA) in Durban, between October 13, and 15, 2014. Saleh told New Telegraph that the authority provided an effective platform that led to the successful fight against Ebola in Nigeria by coordinating screening processes. The FAAN team lead by Director of Airport Operations, Capt Henry Omeogu, showcased the transformational strides in airport operations with the simultaneous remodelling of 22 air-

Govt improves security at airports, says FAAN ports across the country. The theme of the twoday conference which is service excellence attracted 59 member-airports in Africa operating 251 airports. Director-General of ACI worldwide, Angela Gittens, said that airports should build brand loyalty and provide a service that differentiated from others to attract air travellers. According to her, passengers can forgive almost anything at an airport as long as they feel safe and it is clean. According to her, they would also like the ambiance, the feel they get when they walk into a terminal, a sense of order and security. Earlier, while welcoming delegates, President of ACI Africa, Pascal Komla, said that with the theme “Service Excellence” the event provided a unique opportunity for airport and aviation executives, experts and exhibitors from across the globe to network, share information and forge a common vision for the future of the African air-

BPE silent on NITEL’s fate CONTINUED FROM PAGE 21

The two firms, NATCOM Consortium and NETAD Consortium, were picked from the 17 firms shortlisted for the liquidation during the third meeting of the council for the year presided over by Vice-President Namadi Sambo at the Presidential Villa, Abuja. D i r e c t o r- G e n e r a l , BPE, Mr Benjamin Dikki, said that the two firms led others shortlisted with 90.7 and 90.2 percentage scores, respectively. Assets up for bid in NITEL include the licences and the spectrum, nationwide fixed wired networks, national right of way duct system, fibre optic transmission backbone and the CDMA network system. Others are international gateway earth stations, microwave transmission equipment/ network and towers, and other core assets. The assets up for sale in M-Tel are the licences and the spectrum, national right of way; GSM network, including mobile switching centres, base station controllers, base

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

transceiver stations and the general packet radio services. Others are the analogue system and other core assets. According to Dikki, the government was working hard to ensure that the two firms bounced back better. He said: “The criteria is being followed and out of these 17 firms shortlisted, two are qualified for request for proposal issuance. And this is what the council deliberated today and approved the qualifications of the two companies. “The two companies are NATCOM Consortium and NETAD Consortium, and they came top with 90.7 and 90.2 per cent, respectively. “You will agree with me that efforts at getting NITEL back on stream have been very strenuous, because of so many issues, so many problems; but this time around, there have been strong efforts so that we do not go back to what we had before. “With what has been put in place, we are very confident that we will only move forward to take us to the appropriate destination.

port business. Secretary General of ACI Africa, Ali Tounsi, said that there were large discrepancies across the continent with some very high and low levels of services and standards, partly attributed to different cultures, languages and geographical dimensions.

“A big challenge is also the issue of safety with the African continent having the worst safety ranking in the world” he said. He added that “with so much happening economically in Africa, in the next few years, airports would play a hugely important role and had to have pri-

ority attention.” The 23rd ACI Africa Annual Assembly, regional conference and exhibition presented a platform for industry experts to come together and explore the challenges faced by the continent and find solutions that would boost the economic growth of Africa.

L-R: Banking Supervision, Central Bank of Nigeria, Taiwo Oguntona; Group Deputy Managing Director, Access Bank Plc,Obinna Nwosu; Managing Director, Digital Jewels, Adedoyin Odunfa and Acting Deputy High Commissioner and Director, UK Trade & Investment, Nigeria, Mike Purves, at Access Bank ISO 22301 BCMS Certification ceremony in Lagos.

PROSPECT More than twice as many passengers as today will have the chance to fly in the next 20 years Wole Shadare

he International Air Transport Association (IATA) Passenger Forecast report has projected that eight of the ten fastestgrowing markets in percentage terms will be in Africa with Nigeria, Central African Republic, Madagascar, Tanzania, Burundi and Kuwait making up the five fastest-growing travel markets. The clearing house for air transportation disclosed that air traffic travellers will reach a massive 7.3 billion by 2034. The study which was made available to New Telegraph by IATA is the first 20-year passenger growth forecast by the association, which it says represents a 4.1 per cent average annual growth in demand for air connectivity that will result in more than a doubling

7.3bn passengers for air travel by 2034 –Report

•IATA forecasts travel growth for Nigeria, eight others

of the 3.3 billion passengers expected to travel this year. Among other standout findings of the report is the expectation that China will overtake the US as world’s largest passenger market by 2030, but both are expected to remain the largest by a wide margin. In 2034, flights to, from and within China will account for 1.3 billion passengers, 856 million more than 2014, with an average annual growth rate of 5.5 per cent, while the US is expected to grow at an average annual growth rate of 3.2 per cent that will see 1.2 billion passengers by 2034 (559 million over 2014). The report is the first from the new IATA Passenger Forecasting service, produced in association with Tourism Economics, analyses passenger flows across 4,000 country pairs for the next 20 years, forecasting pas-

senger numbers by way three key demand drivers: living standards, population and demographics, and price and availability. IATA’s Director General, Tony Tyler, IATA’s explained: “It is an exciting prospect to think that in the next 20 years more than twice as many passengers as today will have the chance to fly. “Air connectivity on this scale will help transform economic opportunities for millions of people. At present, aviation helps sustain 58 million jobs and $2.4 trillion in economic activity. “In 20 years’ time we can expect aviation to be supporting around 105 million jobs and $6 trillion in GDP.” The IATA report claims by 2034 the five fastest-increasing markets in terms of additional passengers per year will be China (856 million new passengers

per year), the US (559 million), India (266 million), Indonesia (183 million) and Brazil (170 million). In terms of countrypairs, Asian and South American destinations will see the fastest growth, reflecting economic and demographic growth in those markets. Intra-Pakistan, KuwaitThailand, United Arab Emirates (UAE)-Ethiopia, Colombia-Ecuador and intra-Honduras travel will all grow by at least 9.5 per cent on average for the next 20 years, while Indonesia-East Timor will be the fastest growing pair of all, at 14.9 per cent. Tyler continues: “Meeting the potential demand will require government policies that support the economic benefits that growing connectivity makes possible. Airlines can only fly where there is infrastructure to accommodate them.

INTERNATIONAL WEEKLY

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Sanctity of Truth

Story Time Or Simply Screen Time? By DOUGLAS QUENQUA

Clifford the Big Red Dog looks fabulous on an iPad. He sounds good, too — tap the screen and hear him pant as a blue truck roars into the frame. “Go, truck, go!” cheers the narrator. But does this count as story time? Or is it just screen time for babies? It is a question parents, pediatricians and researchers are struggling to answer as children’s books migrate to digital media. For years, child development experts have advised parents to read to their children early and often, citing studies showing its linguistic, verbal and social benefits. In June, the American Academy of Pediatrics advised doctors to remind parents at every visit that they should read to their children from birth. On the other hand, the academy strongly recommends no screen time for children under 2, and less than two hours a day for older children. At a time when reading increasingly means swiping pages on a device, and app stores are bursting with reading programs and learning games aimed at infants and preschoolers, which bit of guidance should parents heed? The answer, researchers say, is not yet entirely clear. “We know how children learn to read,” said Kyle Snow of the National Association for the Education of Young Children. “But we don’t know how that process will be affected by digital technology.” Part of the problem is the newness of the devices. Tablets and e-readers have not been in widespread use long enough for the sorts of extended studies that will reveal their effects on learning. A handful of new studies suggest that reading to a child from an electronic device undercuts the dynamic that drives language development. In a 2013 study, researchers found that children ages 3 to 5 whose parents read to them from an electronic

Continued on Page 26

JESSICA KOURKOUNIS FOR THE NEW YORK TIMES

The effectiveness of relying on tablets to teach children to read has been called into question.

SERGEY PONOMAREV FOR THE NEW YORK TIMES; BELOW, THIBAULT CAMUS/ASSOCIATED PRESS

An Old Demon Stalks Europe Anti-Semitic attacks in some countries leave Jews feeling unsafe

A proPalestinian protest in Sarcelles. Above, Jewish residents of Mechelen, Belgium, gathered to remember the Holocaust.

By JIM YARDLEY

SARCELLES, France — From the immigrant enclaves of the Parisian suburbs to the drizzly bureaucratic city of Brussels to the industrial heartland of Germany, Europe’s old demon returned recently. “Death to the Jews!” shouted protesters at pro-Palestinian rallies in Belgium and France. “Gas the Jews!” yelled marchers at a similar protest in Germany. The threats were surpassed by uglier violence. Four people were fatally shot in May at the Jewish Museum in Brussels. A Jewish-owned pharmacy in this Paris suburb was destroyed in July by youths protesting Israel’s actions in Gaza. Firebombs were found at a synagogue in Wuppertal, Germany. A Swedish Jew was beaten with iron pipes. Such incidents have raised alarm about the rise of what Prime Minister Manuel Valls of France has called a “new anti-Semitism” and have Jews asking whether Europe remains a safe place for them. More are now emigrating to Israel. Others describe “no go” zones in Muslim districts of many European cities where Jews dare not travel. Europe has seen protests and outbursts

of anti-Semitism whenever the Israeli-Palestinian conflict has erupted, and some analysts say this summer’s anger was a cyclical episode that like others will fade away. Some note that the number of reported anti-Semitic incidents this year in France, for instance, is well below some years in the 2000s.But there is also concern about what some see as an insidious “softer” anti-Jewish bias, which they fear is creeping into the mainstream. “The fear is that now things are blatantly being said openly, and no one is batting an eyelid,” said Jessica Frommer, 36, a secular Jew in Brussels. “Modern Europe is based on stopping what happened in the Second World War. And now 70 years later, people standing near the European Parliament are shouting, ‘Death to Jews!’ ” French leaders have strongly con-

demned the recent anti-semitic violence. Chancellor Angela Merkel of Germany last month led a rally against anti-Semitism in Berlin at which she told Germans, “It is our national and civic duty to fight anti-Semitism.” Yet as European support for the Palestinian cause and criticism of Israel have hardened, many Jews describe a blurring of distinctions between being anti-Israel and being anti-Jew. Some Jews speak of feeling politically isolated, without an ideological home. Many left-wing political parties are anti-Israel. Many right-wing parties have anti-Semitic origins. And many Jews who have voted with the Socialist Party in France and Belgium worry that those parties are

Continued on Page 26

INTELLIGENCE

WORLD TRENDS

SCIENCE & TECHNOLOGY

ARTS & DESIGN

Corruption is a way of life in Brazil. PAGE 24

A baby is caught up in Ebola crisis. PAGE 25

Poorly understood, but easily spotted. PAGE 32

Fashion photography viewed as art. PAGE 34

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, OCTOBER 13, 2014

O P I N I O N & C O M M E N TA RY

EDI TO RI A LS O F THE TI M ES

INTELLIGENCE/ANTONIO PRATA

First the Scots, Now the Catalans The Scots and the Catalans are both ancient European cultures that became part of larger political entities centuries ago but retained distinct identities. Both are today witnessing a strong wave of nationalism and longing for self-rule. There is a major difference, however, in how this is being played out in their respective countries. The Scottish referendum in September, like the Quebec referendums before it, demonstrated that if people are allowed an open debate and a democratic vote on self-determination, they may well choose to stay in the broader polity. Spain’s hard line on Catalan nationalism demonstrates the opposite: If national ambitions are frustrated, they will only get stronger, more passionate and potentially more dangerous. The Scottish referendum was watched closely in Spain, but from different perspectives. The Spanish prime minister, Mariano Rajoy, made no secret of his opposition to Scottish independence and suggested he would block an independent Scotland from entering the European Union. Catalan nationalists focused on the process itself as evidence that voting on self-determination is a legitimate right. On September 11, a week before the Scottish referendum and on the 300th anniversary of the fall of Barcelona in the War of the Spanish Succession, hundreds of thousands of Catalans

An Iraqi official recently told me this story: When the Islamic State, also known as ISIS, took over Mosul in the summer, the Sunni jihadist fighters in ISIS, many of whom were foreigners, went house to house. On the homes of Christians, they marked “Nassarah,” an archaic Arabic term for Christians. But on the homes of Shiites they marked “Rafidha,” which means “those who reject” the Sunni line of authority as to who should be caliph, or leader of the Muslim community, after the death of the Prophet Muhammad. But here’s what was interesting: The Iraqi official said the term “Rafidha” was largely unknown in Iraq to describe Shiites. It is a term used by Wahhabi fundamentalists in

formed an 11-kilometer-long “V” for “vote” in Barcelona, the regional capital. And soon after the Scottish vote, on September 18, the Catalan Parliament voted overwhelmingly to ask Madrid for a self-determination vote to be held November 9. It would ask two questions: “Do you want Catalonia to be a state?” and “if so,” “Do you want Catalonia to be an independent state?” Mr. Rajoy rejected the referendum on the grounds that it would violate the “indissoluble unity” enshrined in the Spanish Constitution. Catalans argued that the vote would not be binding, and not unconstitutional, but the Constitutional Court suspended the vote pending a final ruling, which could take months. Yet something as complex and emotional as national identity cannot be reduced to a purely legal issue; it requires political solutions. The long war with Basque separatists ended only when both sides agreed to negotiate. There is room for a political settlement here, too. A major complaint among the 7.5 million Catalans is that they represent 16 percent of Spain’s population and 19 percent of its gross domestic product, but get only 9.5 percent of the national budget. Public opinion polls have shown that while Catalans are narrowly split on independence, a solid majority would vote to stay with Spain if they felt they were getting a fair slice of the economic pie.

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São Paulo We Brazilians suffer from a curious cognitive dysfunction, which occurs with the same frequency in our population as lactose intolerance does among the Japanese, or the inclination for punning among the English. We have the ability to be outraged by corruption, while engaging in our own petty versions of it. As the second round of presidential voting approaches on October 26, this evil is spreading like an epidemic. In bars, on the streets and on social networks, advocates of Dilma Rousseff, the Workers Party candidate for re-election, and Senator Aécio Neves, of the Brazilian Social Democracy Party, never tire of reminding us of the “robberies” that their rivals commit. Workers Party supporters cite the re-election scandal in which Social Democrats were accused of bribing congressmen to approve a constitutional amendment allowing Fernando Henrique Cardoso to compete again for the presidency in 1998. Social Democrats' supporters mention the “Mensalão,” a case in which congressmen allied with the Workers Party regularly received money diverted from Luiz Inácio Lula da Silva’s illegal campaign contributions. Those not involved in the party squabbles tend to blame all the politicians, as if the politicians were a separate species, able to corrupt our reputable citizens. Antonio Prata, a writer, is also a columnist for the newspaper Folha de São Paulo. Send comments to intelligence@ nytimes.

Our citizens don't really need the help. My introduction to Brazilians' cavalier attitude toward corruption came through family. When I was about 7 years old, we went to a Sunday lunch at my uncle Arthur’s. Arthur (not his real name) was my richest uncle, and he lived in a house with a pool. During lunch, he proudly told our family he had found a way to turn off the water register in front of the house and could now fill his pool for free. I do not remember any member of my family reprimanding him. Today, my uncle is retired, and he sends me angry emails about the corruption in the Workers Party government. I would like to believe that the country’s advancements in recent decades have made us more ethical, but that is not the case. A friend of mine, a lawyer in her 30s, has a hairdresser's license so she can get discounts on shampoo. She is a partner in a tax law firm and earns enough in a year to pay for shampoo for three future generations of her family. A psychoanalyst whom I consulted years ago proposed to charge me less if I paid for my sessions in cash, thus allowing him to bypass the tax authorities. But on Facebook and Twitter, the two parties, or politicians in general, clearly are to blame for all our adversities. Sure there have been advances in the 20 years that the parties have been in power. Under Cardoso (1995-2003), hyperinflation ended, the Brazilian real was strengthened, and the economy improved. Da Silva (2003-2011) and Rousseff (2011 to date) deepened and extended social programs that have lifted more than

THOMAS L. FRIEDMAN

I.S. = Invasive Species Saudi Arabia. “We did not know this word,” he told me. “This is not an Iraqi term.” I was intrigued by this story because it highlighted the degree to which ISIS operates just like an “invasive species” in the world of plants and animals. It is not native to either the Iraqi or Syrian ecosystems. It never before grew in their landscapes. I find it useful at times to refer to the natural world to illuminate trends in geopolitics, and this is one of them. The United States National Arboretum website

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notes that “invasive plant species thrive where the continuity of a natural ecosystem is breached and are abundant on disturbed sites like construction areas and road cuts. … In some situations these nonnative species cause serious ecological disturbances. In the worst cases, invasive plants … ruthlessly choke out other plant life. This puts extreme pressure on native plants and animals, and threatened species may succumb to this pressure. Ultimately, invasive plants alter habitats and reduce biodiversity.” I can’t think of a better way to understand ISIS. One part consists of Sunni Muslim jihadist fighters from all over the world: Chechnya, Libya, Britain, France, Australia and especially Saudi Arabia. They spread so far, so fast, despite their relatively small numbers, because the disturbed Iraqi and Syrian societies enabled these foreign jihadists to

forge alliances with secular, native-born, Iraqi and Syrian Sunni tribesmen and former Baathist army officers, whose grievances were more about how Iraq and Syria were governed. Today, ISIS — the foreigners and locals together — is putting pressure on all of Iraq’s and Syria’s native species with the avowed goal of reducing the diversity of these once polycultural societies and turning them into bleak, dark, jihadist, Sunni fundamentalist monocultures. How do you deal with an invasive species? The National Arboretum says you should “use systemic herbicides carefully” (President Obama’s air war), while also constantly working to strengthen and “preserve healthy native plant habitats” (Obama’s effort to forge a national unity government in Baghdad with Shiites, Sunnis and Kurds together).

40 million people out of poverty and into the middle class. These advances, however, were made without putting an end to old problems: spurious alliances to obtain the majority in Congress, the exchange of favors, cronyism and corruption. These are traces of a country that emerged 514 years ago as Portugal’s overseas pantry, where men were making money far from the law, the church and their wives — first, by extracting Pau Brazil (a red tree whose sap was used to dye fabrics and that lent its name to our country), and after that by planting sugar cane, trafficking in slaves, and mining for gold and gems. Much of the disregard for consequences and of the expediency practiced by these explorers still exist today. Am I the only Brazilian free of these traits? Of course not! Last year, I bought a refrigerator. The store said that, in addition to the delivery, they could install it for 450 reais. I thought that was expensive, and said I would do it myself. When the fridge arrived, however, I realized I couldn’t handle it. The delivery man coughed and proposed: “If you want it, I can install it now, for 100 reais, but the people from the store cannot find out.” The other day, looking at that fridge, I realized that it is an image of today’s Brazil: modern, powerful, showy, forward-looking, but working on the old connections we insist on perpetuating behind the scenes. President Rousseff or Senator Aécio Neves will win the election this month, but it will take a longer time to solve the problems that hold back Brazil from being a great country.

Generally speaking, though, over the years in Iraq and Afghanistan, we have overspent on herbicides (guns and training) and underinvested in the best bulwark against invasive species (noncorrupt, just governance). We should be pressing the Iraqi government, which is rich with cash, to focus on delivering to every Iraqi still under its control 24 hours of electricity a day, a job, better schools, more security and a sense that no matter their sect, their voice will count. That is how you strengthen an ecosystem against invasive species. The goal of ISIS now is to draw us in, get us to bomb Sunni towns and drive the non-ISIS Sunnis away from America and closer to ISIS. We always overestimate military training and force a nd underest i mate what Arabs and Afghans want most: decent and just governance. Without the latter, there is no way to cultivate real citizens with a will to fight — and without will there is no training that matters. Ask any general — or gardener.

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Baby Creates Test In Ebola Response By SHERI FINK

SUAKOKO, Liberia — Peering inside a red Nissan hatchback that had pulled up to the gate of an Ebola treatment center here, a guard saw an older woman holding a newborn, a young woman sprawled in the back seat and a man in his 60s crouched in the rear, gripping her clothing so she did not slide off. The woman, the couple told aid workers who gathered on that Saturday afternoon, was their daughter. She had been sick for a week and was bleeding profusely after giving birth prematurely about two hours before. Her boyfriend, the baby’s father, had been treated for Ebola. Workers asked the couple to wait outside the gate, where a masked man with a chlorine sprayer soaked the ground around them. After donning protective gear, a doctor pronounced the woman dead. No one touched the tiny girl, aside from the grandparents. No one at the center had any experience in dealing with babies in the Ebola crisis, nor could they fully evaluate the dangers. “Every time somebody’s sick, people say Ebola,” John Yarkpawolo, 66, the baby’s grand-

father, said later. “People are afraid.” His wife, Annie Yarkpawolo, 64, a trained midwife, had sensed trouble when she received a phone call two nights earlier at her home in Gbarnga, she recalled. Emmanuel Dormeyan, the longtime boyfriend of her oldest daughter, Diana Flomo, 36, said he was bringing her from their home in Monrovia, more than four hours away. “Your daughter can’t hear me, can hardly understand, can’t eat for a week,” he told her. The next morning, he dropped off Ms. Flomo, who was eight months pregnant. A day later, she suddenly gave birth and began hemorrhaging. Mrs. Yarkpawolo and her husband, a social studies teacher, had no car, but found the young driver of the red Nissan willing to take them to nearby C. B. Dunbar maternity center. There they waited for perhaps an hour and a half before a doctor urged them to go to Phebe Hospital, also in Gbarnga. The family traveled to Phebe, and again waited. “She gave up,” Mrs. Yarkpawolo said of her daughter. A doctor sent the family a halfhour away to the Ebola treat-

PHOTOGRAPHS BY DANIEL BEREHULAK FOR THE NEW YORK TIMES

The mother of Diana Dormeyan, here with relatives, may have died from Ebola. She had been bleeding profusely after giving birth prematurely. Left, a burial team with the mother’s body. ment center, newly opened by the American charity International Medical Corps. Many health workers in Liberia and its virus-ravaged neighbors have contracted Ebola while attending to births and being exposed to blood and other body fluids, provoking fears of providing maternity care. It was not clear whether Ms. Flomo had even had Ebola; her family did not mention a fever, which typically accompanies the disease. But if she did have it, her baby could have been infected. There is little research, but doctors speculate that Ebola can be transmitted from mother to baby in utero or during exposure to fluids while passing through the birth canal. The International Medical Corps unit had never had a case like this. “M.S.F. will know,” Sean Casey, the team leader at the center, said, using the French abbreviation for Doctors Without Borders. He called Dr. Anja Wolz, an Ebola treatment veter-

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an based in Liberia. Dr. Wolz suggested that the baby not be admitted; if she was not infected, she could be exposed to the virus. She told Mr. Casey that she thought the baby had little chance of survival. Staff members found a can of powdered baby formula. But the directions were intended for babies of at least two weeks of age. The workers guessed at the right volume and walked down the driveway to the grandparents. With a syringe, the grandmother dripped the formula into the infant’s mouth. The couple were given gloves for handling the baby, a list of instructions and a thermometer for monitoring their own temperatures. They would also get a bucket and chlorine and instruc-

tions on how to clean the house where Ms. Flomo had given birth. At the grandparents’ house the next day, the baby’s face was cocooned in sheets. Her father, Mr. Dormeyan, had come to meet her and named her Diana, just like her mother. Diana seemed to be doing well. But on Tuesday night she cried and did not sleep. On Wednesday, she vomited and breathed hard for a while. Then she died. A burial team sprayed the body and the room she had been in with diluted bleach. Mr. Yarkpawolo traveled with the group to the Ebola treatment center. He wanted to make sure his granddaughter would be placed near his daughter, who had been interred three days before. Four men quickly filled the small hole, then tapped a marker — “In Loving Memory of Diana Dormeyan,” it said in handwritten letters — into the soft earth. “Thank you, man,” Mr. Yarkpawolo said to a worker. “O.K., Pop,” the man replied.

Modi Imprints Gandhi’s Face on a New Brand of Indian Leadership By ELLEN BARRY

JONATHAN ERNST/REUTERS

Narendra Modi and a statue of Gandhi, in Washington.

NEW DELHI — Watching Prime Minister Narendra Modi as he began to carve out an image for himself beyond India’s borders, one might have gotten the impression that Mohandas K. Gandhi was his ideological progenitor, or his running mate. Gandhi is everywhere in Delhi these days. A stylized drawing of his steel-rimmed round glasses is the logo of Mr. Modi’s new cleanliness drive, Swachh Bharat Abhiyan, introduced with great fanfare on the anniversary of Gandhi’s birth. When the president of China, Xi Jinping, visited, Mr. Modi received him at Gandhi’s ashram. Then Mr. Modi visited President Obama in the United States and presented him with a copy of Gandhi’s translation of the Bhagavad Gita. Gandhi, of course, is an unlikely avatar for the ascendant right

wing in India. For most of the last century, Gandhi has been the symbolic leader of the Indian National Congress party, which Mr. Modi drove from power this year. Gandhi’s economic vision was fundamentally anticapitalist: He

Paying homage to a symbolic figure, if not to all his ideals. extolled rural over urban life and called industrialization “a curse for mankind.” During his lifetime, he was excoriated by rightwing activists. Mr. Modi’s reputation as a Hindu hard-liner was defined in 2002, when bloody sectarian

riots broke out under his watch as chief minister of the state of Gujarat. So the Gandhi now embraced by Mr. Modi is an edited version. First and foremost, he is a preacher of cleanliness — a fair depiction, since he was passionate on the subject. Mr. Modi has endorsed some elements of Gandhi’s economic thinking, urging consumers to buy homespun cloth instead of imported products. But his Gandhi hardly believes that “the future of India lies in its villages.” Tusha r A . Ga ndhi, the great-grandson of the independence leader, has watched this process from his home in Mumbai with curiosity and, at times, satisfaction. “It is a bit of a surprise,” he said. “The only thing I can say at the moment is, I hope it is sincere.”

Tushar Gandhi declared that Mr. Modi’s rollout of the cleanliness campaign, which required top officials to go out and clean neighborhoods, was the only celebration in decades that would have met with Gandhi’s approval. Whether the focus on Gandhi represents an ideological shift remains unclear. Mr. Modi may simply be acknowledging that India cannot be ruled without allegiance to the nation’s father. Cleanliness, in any case, is a proposition that no one can dispute. Rajmohan Gandhi, the independence leader’s grandson, called it “an incomplete representation of Gandhian thought.” “Gandhi is available to all to use or misuse,” he said. “My complaining will make no difference. But Gandhi may spring back and create problems for those who misuse him.”

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Demon of Anti-Semitism Is Stalking Europe Again Continued from Page 23 weak and becoming more dependent on fast-growing Muslim voting blocs. Even among those inclined to condemn racism in any form, fighting anti-Semitism is no longer seen as a priority, with Jews often perceived as privileged compared with Muslims and other minorities confronted with discrimination. Many younger Muslims often seem alienated in Europe. Struggling to find work and frustrated by their lack of acceptance, a small but vocal group of them has become inflamed by the politics of the Middle East, especially the Israeli-Palestinian conflict. Mehdi Nemmouche, a French Muslim arrested in connection with the killings at the Jewish Museum in Brussels, fought as a jihadist in Syria. “The Middle East is being imported into Europe,” said Philip Carmel, European policy director for the European Jewish Congress. “For the past four or five years, we have felt a growing insecurity,” said David Harroch, who runs a Jewish bookstore in Little Jerusalem, the Jewish commercial district in Sarcelles, a suburb of Paris. “My customers tell me how worried they are about the climate here, the situation. A lot of people have left.” Israeli officials say as many as 6,000 Jews will migrate from France this year. Many Jews and Muslims in Sarcelles grew up together without rancor. Not far from one of the city’s storefront mosques is a small grocery owned by Muslims. One of the owners, Abdel Badaz, recently stood behind the counter with a childhood friend, Mickaël Berdah, 36, a Jew whose family emigrated decades ago from Tunisia. They both criticized the riot as the work of young troublemakers. “When you’ve grown up in the neighborhood, and you know everybody, there isn’t that kind of hate,” Mr. Berdah said. Outside, Diakité Ismael, 19, the French-born son of Senegalese immigrants, also argued that there was no animosity in Sarcelles between local Muslims and Jews. But when asked about

Gaza, he became agitated. He said he had seen video of an Israeli bomb hitting a funeral in Gaza. “Somehow, some Jews control politics, information, business and finance,” he said. “I’m not talking about the Jews here. I’m talking about Jews in general.” “Jews, in general,” he added, “only let you see what they want you to see.”

In Brussels, High Alert The May shooting at the Jewish Museum in Brussels — and the subsequent arrest of Mr. Nemmouche — attracted international attention, as four people were killed, including two Israelis. But there have been smaller incidents: a Turkish shop owner in Liège who posted a sign saying he would serve dogs but not Jews, a voice on the intercom of a commuter train that announced a stop as “Auschwitz” and ordered all Jews to get off. “This summer, I started to see the world in a different way,” said Marco Mosseri, 31, an Italian who works in the automotive industry in Brussels. “I was scared. I spent several nights without sleep. For the first time, I was thinking that maybe I could die from my religion.” On September 14, which marked the European Day of Jewish Culture. As people gathered to dedicate a plaque at a Holocaust memorial, youths hurled stones and bottles until the police arrived. Three days later, a fire erupted on an upper floor of a synagogue in the city’s Anderlecht district; the authorities are investigating the incident as arson. With its chocolate shops, Trappist beers and gray gloom, Brussels is the center of Europe’s sprawling bureaucracy, a symbol of the loathed policies of austerity. But Brussels also embodies the demographics transforming much of urban Europe, with generations of Muslim immigrants and their descendants now representing roughly a quarter of Brussels’ population. The Jewish community is small, about 20,000 people, most of them assimilated, secular Jews like Mr. Mosseri, who usually do not draw attention to their heritage. A recent report by two Europe-

Abdel Badaz, far left, a Muslim, and Mickaël Berdah, a Jew, criticized the antiSemitic riots in Sarcelles. Nor was the comment isolated. There have been signs that anti-Jewish sentiment transcended the immediate SERGEY PONOMAREV FOR THE NEW YORK TIMES backlash against the Gaza war. In Hungary, the rise of the faran Jewish organizations noted right Jobbik party has brought that 40 percent of European Jews concerns that anti-Semitic views hide their Jewishness. Some are gaining mainstream tracJews have stopped wearing a necklace with the Star of David, tion. In Italy, extreme right-wing or letting their children wear activists were blamed for a flurry T-shirts for a Jewish summer of anti-Jewish graffiti. In Rome, a camp on public buses or trains. far-right group distributed fliers And since the start of the conin August calling for a boycott of at least 40 Jewish-owned stores. flict in Gaza this summer, many Italian investigators were also describe social media, especially looking into whether such farFacebook, as a swamp of hatred. right parties were building alli“I have friends who are never political and they are posting things ances with extremist left-wing about Gaza every day,” Ms. groups. Frommer said. “It seems like an In Brussels, several pro-Palobsession. Is your obsession beestinian marches were held this summer, most of which were cause you want to save children, peaceful, but a few bore an anor because you have a problem with Jews?” ti-Semitic edge, including shouts of “Death to Jews!” While BelAn Unavoidable Issue gian politicians quickly conIn a city so devoted to politics, demned the shooting at the Jewthe issue of Israel can seem unish Museum, some Jews felt the response to the protests, includavoidable to some Jews, even those who strive to be apolitical ing that of the center-left Socialor tend to be critical of Israeli ists, was tepid at best. policy. Ms. Frommer grew up in “The Socialist Party is afraid, Brussels, but then left for college because of the votes here in Belin Britain, followed by a long stint gium,” said Dr. Maurice Sosworking in Cambodia. When she nowski, an anesthesiologist and returned to Brussels four years prominent Jewish leader in Brusago, she was struck by how much sels. “In Belgium, they are not more polarized life seemed. Her willing to speak loudly, because Jewish friends were sticking closthere are a lot of Muslims.” In the nonprofit world of Bruser together as office chatter now sometimes bore a sharper edge. sels, the politics of Israel, which This summer, one of her Belsome on the European left view as essentially the pursuit of racist gian colleagues repeatedly menobjectives against Palestinians, tioned the Israeli-Palestinian have made it difficult to keep conflict. “He would often try to the fight against anti-Semitism bring up the subject when I tried high on the agenda.“Some see it not to,” she said. “Then the subin conflict with the anti-racism ject would shift from Israel to movement,” said Robin Sclafani, Jews. Then it was, ‘Were there director of the Brussels-based really six million Jews killed in group A Jewish Contribution to the Second World War?’ ”

an Inclusive Europe. The organization, also known as CEJI, provides anti-discrimination training to teachers, social workers and others. Ms. Sclafani said she now receives numerous requests for training sessions to combat discrimination against Muslims, yet there is little interest in workshops on anti-Semitism. “Nobody comes,” she said, adding that she has started pairing the sessions together. Michaël Privot, director of the European Network Against Racism, said that blaming only the Islamic fringe for anti-Semitism discounted academic studies that show how deeply ingrained it remains among all Belgians — as well as other Europeans — and risked giving a free pass to rightwing extremist groups. “You have, basically, a golden opportunity for the right fringe to blame it on Muslims and claim innocence,” Mr. Privot said. The devices used in the attempted firebombing of a synagogue in Wuppertal, Germany, failed to ignite, but they had an impact. “For Jews in Germany, especially for us, this has very, very deep meaning,” said Artour Gourari, a local businessman and synagogue member. “Synagogues are burning again in Germany in the night.” City religious leaders reacted quickly. Imams and Christian ministers rushed to the building to pledge support. More than 300 people came to a peace meeting the next day. “People were shocked,” said Samir Bouaissa, a local Muslim leader. “A threat against one of our religious houses is a threat against all of us.” Earlier this month, the city’s religious leaders got another shock: a small group of men walked through a Muslim neighborhood, lecturing young people and wearing orange jackets that read “Shariah Police.” In recent years, Leonid Goldberg, the community leader of the Wuppertal synagogue, has used a celebration of Rosh Hashana to warn about rising anti-Semitism among extremist Muslims in the city. “No one wanted to hear that,” he said.

Is E-Reading for Toddlers Story Time or Simply Screen Time? Continued from Page 23 book had lower reading comprehension than children whose parents used traditional books. “Parents were literally putting their hands over the kids’ hands and saying, ‘Wait, don’t press the button yet. Finish this up first,’ ” said Dr. Julia Parish-Morris of the Children’s Hospital of Philadelphia and the lead author of the study, which was conducted at Temple University. Parents who used conventional books were more likely to engage in what education researchers call “dialogic reading,” the sort of back-andforth discussion of the story and

its relation to the child’s life that research has shown are key to a child’s linguistic development. Complicating matters is that fewer children’s e-books can be described as books, researchers say. As technology evolves, publishers are adding additional features that encourage detours. “What we’re really after in reading to our children is behavior that sparks a conversation,” said Kathy Hirsh-Pasek, a professor of psychology at Temple and co-author of the 2013 study. “But if that book has things that disrupt the conversation, like a game plopped right in the middle of the story, then it’s not offering

you the same advantages as an old-fashioned book.” E-book publishers and app developers point to interactivity as an educational advantage, not a distraction. Many of those extra features — Clifford’s bark, the appearance of the word “ham” when a child taps the ham in the Green Eggs and Ham app — help the child pick up language, they say. There is some evidence to bear out those claims, at least in relation to other technologies. A study by the University of Wisconsin in 2013 found that 2-yearolds learned words faster with an interactive app as opposed to one that required no action.

Interactive reading versus Mommy turning the page. But when it comes to learning language, researchers say, no technology can substitute for a live instructor. Patricia K. Kuhl of the University of Washington led a study in 2003 that compared a group of 9-month-old babies addressed in Mandarin by a live instructor with a group addressed in Mandarin by an instructor on a

DVD. Children in a third group were exposed only to English. Brain scans and language testing revealed the DVD group “learned absolutely nothing,” Dr. Kuhl said. Perhaps the biggest threat posed by e-books is that they could lull parents into abdicating their educational responsibilities, Mr. Snow said. “There’s the possibility for e-books to become the TV babysitters of this generation,” he said. “We don’t want parents to say, ‘There’s no reason for me to sit here and turn pages and tell my child how to read the word, because my iPad can do it.’ ”

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Longing For The Days Before ...

MICHAL NOVOTNY FOR THE NEW YORK TIMES

Since 1927, 24 horses have died trying to clear this brutal ditch, part of a race that has been run nearly every year since 1874 in the Czech Republic.

This Race Is for the Horses’ Lives By SAM BORDEN

PARDUBICE, Czech Republic — A pack of horses approached the famous hedge at speed, each rider bent low. Hooves clopped down and grass flew up as if churned through an electric fan. The horses could not see what lay beyond the green wall rising more than one and a half meters in front of them, but the thousands of fans knew. Many held their breath as the horses took off, the animals’ legs — and hopes — straining, for the other side. England’s Grand National may be the most famous steeplechase run in the world, but the most historic jump, if not the most controversial, is about an hour’s drive from the center of Prague. On October 12, as has been the case nearly every year since 1874, the Velka Pardubicka (the Grand Pardubice) was held, and a field of horses challenged the Taxisuv prikop, or Taxis Ditch, a brutal trench that has claimed a number of lives. The Taxis occupies a sacred place in European racing, as riders are not allowed to practice the jump and the only race in which it is featured is the Velka, a punishing test of endurance that sends horses on a cross-country dash of 31 jumps and nearly seven kilometers. In 124 runnings of the Velka, there has never been a race in which all the horses that began the race were able to finish it. Named for a 19th-century prince who persuaded organizers that they should keep the dangerous jump in the race, the Taxis features its towering hedge and a pit that is about a meter deep and more than five and a half meters long. Since 1927, 24 horses have died after falling at the Taxis, including a brown mare named Zulejka, who was euthanized after this year’s event. Earlier in the afternoon, another horse, Tammy’n Classy, had been euthanized after falling on a different jump. The deaths do not figure to affect the popularity of the race, but familiar concerns from an-

imal rights groups perpetually linger. Protests about the Velka peaked more than 20 years ago, when demonstrators burst from the surrounding forest just before the start of the 1992 race in an attempt to cancel it (they succeeded only in causing a delay). “Back in the ’90s the organizers actually promoted the race as something where you might see horses die — it was really horrifying,” said Filip Fuchs, an activist. “It became a symbol of animal rights abuse. The year after the protest, they made changes to the course, and that was good to see. Some people are still upset about the race, but it is not the same kind of issue it was in the past.” Still, safety remains an issue. In 2013, only six of the 20 horses that began the Velka finished, and one horse was euthanized after a fall; this year, 17 of the 22

Steeplechase’s most historic jump is also its most deadly. starters finished the race, but three horses fell at the Taxis. Zulejka was the fifth horse to die after a fall in the Velka over the last eight years. Those who support the race point out that in general, injuries have been fewer at the Taxis since 1993, when organizers shortened the dimensions of the jump and softened the landing edge. Additionally, wooden posts were removed from the hedge, giving the branches give instead of the rigidness that could send horses into calamitous somersaults. “When someone looks from the outside, maybe they think it is unfair or unsafe,” said Jiri Janda, the official responsible for maintaining the condition of the track. “But it is very different now than it was, and it comes early in the race, so the horses are strong.

Taxis is the hallmark jump, and usually the horses can handle it.” Vaclav Chaloupka, who won the race four times from 1969 to 1977, said that almost every obstacle in the Velka can lead to a jockey’s undoing. Each obstacle is unique and there is a greater variety as horses must navigate hedges and water jumps and fences and a hill known as Irish Bank, which requires the horse to shinny up and down. Racing purists also praise the Velka’s connection to natural terrain, as horses run part of the race on grass and part on dirt or mud, weaving their way around a vast course that tests even the best pair of binoculars. The jumps, though, are the focus and the falls are the scourge. Marek Stromsky, a veteran jockey, recalled a crash in 2007 in which his horse, Cieszymir, was cut off by another horse on the run-up to the Taxis and, lacking the necessary pace, broke a leg after falling through the hedge. Mr. Stromsky said that there was “no time to feel fear” once the jump began and that he knew the horse would not make the jump. “The horse was taken away by the doctors,” he said. “I stood next to the jump and waited until the race was over. You know there is no help for the horse. You only feel sadness.” This year, the Velka legend Josef Vana competed in his 28th race at the age of 61. Once more, he safely cleared the Taxis. After crossing the finish line, Mr. Vana looked back toward the fourth jump, the Taxis, where several ambulances were idling. Then he looked ahead, to where Jan Faltejsek, aboard a mare named Orphee des Blins, was celebrating. Mr. Faltejsek had held off a late challenge to win the Velka for a third consecutive year, sprinting home just a half-length ahead of Al Jaz, a stallion. He took the lead early, catapulting in front at a turning point that, for good and bad, was certainly not surprising. “At Taxis,” he said, “that was where she really got going.”

Texting is stressful. Those ellipses that pop up on an iPhone when someone is typing a message to you are “quite possibly the most important LENS source of eternal hope and ultimate letdown in our daily lives,” Maryam Abolfazli, a writer in Washington, told The Times. The ellipses can follow a conversation through rising action (“What could he be typing?”), a suspenseful climax (“Why have the bubbles stopped?”) and a disappointing denouement (“A one-word response?”). “This is the new human condition,” Neal Bledsoe, an actor in Los Angeles, wrote to The Times, via text message. “We’re all desperate for human connection, and all we get — after all that typing — is a paper-clip emoji.” Pining for the golden days of personal contact, even the electronics-dependent are rediscovering the joy of talking face to face. Pandora Media, the Internet radio service, usually interacts with its audience with a computer algorithm. Listeners tap a thumbs-up icon when they like what they hear, and Pandora cues similar songs. But in September, Pandora got more personal, surprising seven users with a live performance by the violinist Lindsey Stirling. The one-song concerts, part of an advertising campaign, will be followed by others with different artists. Ms. Stirling and backup musicians were in a Los Angeles studio, facing a huge screen as they video-chatted with the listeners and performed. “It was very emotional for listeners, and very emotional for Lindsey, too, because she could see them one-to-one in a way that she doesn’t even get to in a concert,” James RobinFor comments, write to nytweekly@nytimes.com.

son, of the advertising agency TwoFifteenMcCann, told The Times. “She could see what her music meant to these people.” Grace Ban can understand that pleasure of connecting with an audience. Ms. Ban, an assistant manager of social media at Bergdorf Goodman, the Manhattan luxury retail store, has 65,000 followers on Instagram. One of them recognized her at a party, an introduction was made, and friendship followed. “After you interact with someone virtually for so long,” Ms. Ban said, “it’s nice to meet them in person and find out you can be friends.” The party was hosted by the Spring St. Social Society, which arranges dinners and other events that simply put people in the same room. Patrick Janelle, a founder of the group, said his digital-focused life (Instagram account:

In a world of texts, people crave faceto-face meetings. 276,000 followers) had lacked human contact. “I want to be remembered for bringing these people together,” he said. At another Spring St. dinner, Ms. Ban sat next to Georgina McDonald. The two shared their travel aspirations — Ms. Ban, maybe to New Zealand; Ms. McDonald, all across the United States. They exchanged phone numbers. “People want face time and to have different experiences,” Ms. McDonald told The Times. “The best thing about these events is that you know it is going to be a real experience.” Bevy Smith, the creator of another get-together group, Dinner With Bevy, said there was a market for this service “because people have lost the fine art of conversation. People are so busy trying to network, they forget about connecting.” DEBORAH STRANGE

JOLIE RUBEN FOR THE NEW YORK TIMES

A party in New York hosted by Spring St. Social Society, which organizes dinners for its members. Patrick Janelle, second from right, founded the group.

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MONDAY, OCTOBER 20, 2014

WORLD TRENDS

Ethiopian Dam Project Raises Hopes, but Tensions, Too By JACEY FORTIN

GUBA, Ethiopia — In a remote stretch of land in Ethiopia’s forested northwest, the dust never settles. All week, day and night, thousands of workers pulverize rocks and lay concrete along a major tributary of the Nile River. It is the site of the Grand Ethiopian Renaissance Dam, the continent’s biggest hydropower plant and one of the most ambitious infrastructure projects ever in Africa. Ethiopia is a poor country, but officials say the dam will be paid for without foreign assistance — a point of national pride. “We lean on the generousness of the rest of the world,” said Zadig Abrha, deputy director of the dam’s public mobilization office. “So there is a conviction on the part of the public to change this, to regain our lost greatness, to divorce ourselves from the status quo of poverty. And the first thing that we need to do is make use of our natural resources.” Ethiopia, one of the world’s fastest-growing economies, has poured its resources into a series of megaprojects in recent years, including dams, factories, roads and railways across the country. But its state-driven approach has been criticized for displacing communities, elbowing out private investors and muzzling dissent. The Renaissance Dam even set off a diplomatic battle with Egypt that led to threats of war. In Ethiopia, Africa’s second most populous nation, power shortages stifle growth. The hydropower plant is expected to triple electricity generation. Aside from a $1 billion loan from China for a transmission line, the government projects a $4.02 billion cost for the dam, with more than $1.3 billion already spent.

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The Renaissance Dam could reduce the Nile’s flow at first. Workers excavated rocks at the site of the Grand Ethiopian Renaissance Dam. JACEY FORTIN FOR THE NEW YORK TIMES

Near the border with Sudan, the dam is inching skyward as 8,500 workers apply layer after layer of concrete to create a reservoir covering nearly 1,700 square kilometers. The Renaissance Dam is on the Blue Nile, which contributes most of the water in the Nile River. Fears of armed conflict surfaced during the brief tenure of Egypt’s former president, Mohamed Morsi, who said that “Egyptian blood” would substitute for every drop of lost water. But under Egypt’s current president, Abdel Fattah el-Sisi, the relationship between the two countries has begun to thaw. Egypt’s new foreign minister, Sameh Shoukry, set a diplomatic tone during a visit last month to the Ethiopian capital, Addis Ababa, declaring “a new phase of our

A relentless drive for hydropower and the money needed for it. relationship based on mutual understanding, mutual respect and a recognition that the Nile binds us.” The dam will temporarily lessen the flow downstream to Egypt and Sudan. Two studies on downstream effects will be carried out over the next six months. “Because it is such a large volume of storage, to mitigate downstream impacts, the dam will have to be filled over a period of several years,” said

Matthew McCartney of the International Water Management Institute. Ethiopia’s biggest obstacle to finishing the dam is money. Ethiopia’s plan to sell excess energy to neighboring countries could bring in about $1 billion in annual export revenue starting in 2021, four years after the dam is scheduled to be completed. More than $357 million spent so far has come from Ethiopians. Government workers making as little as $32.68 per month have been pushed to buy bonds worth a full month’s salary every year. The government also leads meetings to encourage private-sector workers to buy bonds. Ethiopia is desperate to spur manufacturing, which it sees as critical. Despite official claims that the economy grew at a rate

of 10.9 percent annually over the last decade, a third of the population is living on less than $1.25 per day. And the dam’s first impact on the poor will be disruptive. The project manager, Semegnew Bekele, said it would displace an estimated 3,700 households. Experts say the dam’s overall environmental effect could be positive. Dr. McCartney said it could be used to regulate the flow of the Blue Nile, increasing it during dry periods. For many Ethiopians, the dam is a testament to their country’s abilities. “It’s hope, it’s hope,” said Wossene Hailu, owner of Wossi Garment Design Factory. “When I see the dam on TV, I say: ‘Ah, very soon. We’re getting there!’ That’s the feeling I get.”

Pilgrims arrive daily in Isnotú, Venezuela, to pay tribute to Dr. José Gregorio Hernández, who is known as ‘‘the doctor of the poor.’’

Many Feel He’s a Saint Already By WILLIAM NEUMAN

YEMEN Gulf of Aden

VENEZUELA JOURNAL

ISNOTÚ, Venezuela — Venezuela needs a miracle. Preferably two. The Roman Catholic Church here is on a mission to document a miracle that can be attributed to one of the country’s most popular folk heroes: José Gregorio Hernández. Born in this small town in the foothills of the Andes on October 26, 1864, Dr. Hernández spent much of his life in Caracas, the capital, where he became known as “the doctor of the poor” because he routinely treated needy patients for free. He died in 1919. For his funeral, tens of thousands of people filled the streets outside the cathedral, the newspaper accounts at the time said, and when the coffin was about to be placed in a hearse a cry went up: “Dr. Hernández is ours!” The coffin was carried to the cemetery on the shoulders of the citizens. Over the years, his legend grew. The sick or the injured

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prayed to him to be cured, and many believed he was responsible for miracles. He was also embraced by the followers of two religions that combine elements of Roman Catholicism with African and indigenous beliefs — María Lionza, which is native to Venezuela, and

Venezuelans claim a popular doctor performed miracles. Santería, which spread here from Cuba. Today, Dr. Hernández’s image is ubiquitous in Venezuela, perhaps even more so than pictures of Hugo Chávez, the former president who died last year. The doctor’s familiar figure, usually dressed in a black suit with a high-peaked felt hat and a mus-

tache, his hands behind his back, is painted on walls, reproduced in statuettes and displayed in roadside shrines or simple altars in stores and homes. “José Gregorio is quintessentially Venezuelan,” said Laura Zambrano, who helps run the sainthood effort led by the Archdiocese of Caracas. “He took all of our virtues to an extreme, to the extreme of perfection.” In 1986, Pope John Paul II declared Dr. Hernández “venerable,” a step toward being considered for sainthood. To take the next step, known as beatification, the church would need to show that Dr. Hernández had performed a miracle. Once that was done, proof of a second miracle could qualify him to be canonized, or declared a saint. Twice, in 1986 and 2009, the Venezuelan church documented what it believed were medical miracles attributable to Dr. Hernández. It sent them to Rome for approval by a panel of experts assigned to evaluate such

MERIDITH KOHUT FOR THE NEW YORK TIMES

cases, but each time they were rejected. Now, with the 150th anniversary of Dr. Hernández’s birth approaching, the church here has started a campaign to find the miracles needed to propel him to sainthood. It has distributed millions of palm-size cards encouraging the faithful to pray for Dr. Hernández’s canonization and asking them to send in accounts of miracles. This year, the office in charge of seeking Dr. Hernández’s sainthood has received more than 800 testimonials recounting possible miracles. Melvin Andrade, who recently

made the nine-hour drive from Caracas to Isnotú, prayed silently before a life-size marble statue of Dr. Hernández. Mr. Andrade said that he had appealed for Dr. Hernández’s help during a series of grueling operations after a motorcycle accident in January. Now he had come to give thanks. “The spinal operation I had could have left me an invalid and I came out perfectly,” he said. His girlfriend, Marvella Rivas, 46, had no doubt about the doctor’s status. “For me, he’s a saint even though he hasn’t been beatified, which is something I can’t understand,” she said.

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MONDAY, OCTOBER 20, 2014

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WORLD TRENDS

People in Hong Kong Look to City, Not State By EDWARD WONG and ALAN WONG

GILLES SABRIE FOR THE NEW YORK TIMES

Huge gaps exist between the urban and rural incomes of the Chinese. ‘‘The more grain you plant,’’ said Li Haiwen, above, ‘‘the poorer you get.’’

China Leaves Its Farmers Behind By IAN JOHNSON

YANGLING, China — For about 4,000 years, farming in this region has been a touchstone of Chinese civilization. But now Yangling’s fields are in disarray. Frustrated by how little they earn, farmers have migrated to cities, hollowing out this rural district in the Chinese heartland. Left behind are people like Hui Zongchang, 74, who grows wheat and corn on a half-hectare plot while his son works as a day laborer in the metropolis of Xi’an to the east. Mr. Hui said he makes next to no money from farming. He tills the earth as a kind of insurance. “What land will they farm if I don’t keep this going?” he said of his children. “Not everyone MYANMAR makes it in the city.” From a bedrock of traditional culture, and an engine of the post-Mao economic boom in the 1980s, agriculture has become a burden for China. Farm output remains high. But rural living standards have stagnated, and few in the countryside see their future there. The most recent figures show a threefold gap between urban and rural incomes, fueling discontent and helping to make China one of the most unequal societies in the world. The nation’s Communist leaders have declared that fixing the countryside is crucial to maintaining social stability. Last year, they unveiled a blueprint for economic reform with agricultural policy as a centerpiece. But the plan faces challenges. Farms in China are too small to generate large profits, less than a hectare on average. Yet it is difficult to consolidate these farms into larger, more efficient operations because farmers do not own their plots — they lease them from the government. Privatizing farmland would allow market forces to create bigger farms, but that would pose political difficulties for the Amy Qin contributed research.

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Many farmers are leaving Yangling to work in cities.

A reform gives farmers rights, but not land ownership. Communist Party. It would also risk exacerbating inequality, by concentrating land ownership in the hands of a few while leaving many rural families without farms to fall back on if they hit hard times in the cities. In late September, President Xi Jinping endorsed an experiment underway in Yangling and other parts of China. The measure stops short of privatization but gives farmers land-use rights they can transfer to others in exchange for a rental fee. The goal is to simulate a private land market and allow China’s family-run, labor-intensive farms to change hands and be amalgamated into large-scale, industrialized businesses. Skeptics, however, say Mr. Xi’s policy shows the govern-

ment remains unwilling to consider a bold measure that has worked in many countries: giving farmers full ownership of their land. “Privatization of land is a key issue but it’s completely taboo,” said Tao Ran, an agricultural expert at Renmin University in Beijing. The party leadership, he said, “cannot countenance it.” In Yangling, a district of 155,000 people, farmers do not own their land, so they cannot sell it. Nor can they mortgage land for money. Yangling set up a land bank that took over land-use rights in an area of 90 square kilometers, then set an annual rental fee of at least $750 per hectare. Farmers could choose between giving up their land and collecting that rent, or leasing their land back and continuing to farm. But the fees can distort the market. They have discouraged production of grain, which does not sell for enough of a margin over the cost of renting the land. Grain pays about $1,250 per hectare, for an annual profit of about $500, said one resident, Li Haiwen. “The more grain you plant,” he said, “the poorer you get.” Mr. Li grows magnolia bushes used in traditional Chinese medicine instead. But he said farming is just a sideline for him. His main source of income is in professional landscaping. “I think our minds are opening up and we realize there are other ways to make money,” he said. Government planners hope that more farmers will be moved to the cities so the countryside gradually depopulates and ever-larger-scale farming takes over. For people still wanting to work the land, like Zhou Yuansheng, 66, this system is an example of how little say he has. “The big decisions are made by the government,” he said. “No one asked me what I wanted to do with my land.”

HONG KONG — If there is one phrase that has come to define the protests that swept across Hong Kong recently, appearing on handwritten billboards and T-shirts, it is this: “Hong Kong People.” “I wouldn’t say I reject my identity as Chinese, because I’ve never felt Chinese in the first place,” said Yeung Hoi-kiu, 20. “The younger generations don’t think they’re Chinese.” More than 90 percent of Hong Kong residents are ethnically Chinese. But ask residents how they see themselves, and many will say as Hong Kongers first — or even Asian or world citizens — before mentioning China. The Chinese Communist Party has been grappling with the issue of identity since Britain turned over control of this global financial capital. But what the student-led protests show is that Beijing’s efforts have backfired. The conflict has served to bolster Hong Kong’s identity, already strengthened in recent years by what many saw as intensifying attacks from China against its culture, political values and economic well-being. Many of those who were proud to see 156 years of British colonial rule end in 1997 as Hong Kong returned to China now say they prefer to identify with the mother city rather than the motherland. “We don’t want to associate ourselves with Communist China,” said Euler Cheung, 38, as he stood in the main protest tent in Mong Kok. “They destroyed the Chinese culture.” The spark of the Umbrella Revolution is political: Demonstrators want Beijing to grant Hong Kongers a free and direct election of the chief executive in 2017. But the passions that have driven people into the streets are rooted in the desire to preserve a distinct identity from China — in areas like rule of law, freedom of speech and of the press, financial infrastructure, anticorruption institutions, education, Cantonese language and Western influence. A June poll by University of Hong Kong researchers showed an increase this year in people identifying themselves as Hong

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A video on the outcome of the protests in Hong Kong: nytimes.com Search Hoi-kiu

Kongers, while those identifying as “Chinese” and as a “citizen of the People’s Republic of China” dropped to the lowest levels since 1997 and 2007. Hong Kongers’ distinct identity has been reinforced by the enduring dominance of Cantonese and the Cantonese popular culture — film, music, television — that is not only beloved by Hong Kongers but also embraced by the Hong Kong diaspora, keeping their identities rooted more in their home city than in China. Overseas Hong Kongers have returned to join the protests. Hong Kongers generally do not seek independence from China. Even Jimmy Lai, the pro-democracy media tycoon who is a strident critic of the Communist Party, said Hong Kong “can nev-

Democracy protesters feel ties to Communist China. er be divided from China.” “What we have to do is to keep our differences, the core values that are the legacy of the English colonial past,” he said. For many Hong Kongers, one event — the massacre at Tiananmen Square in 1989 — casts a long shadow over much of what the Communist Party says and does. “We prefer to be ruled by a democratic country,” said Jeff Leung, 23. “We don’t want to be ruled by a country that massacres its own people.” Rowena Leung, 32, a kindergarten teacher, said she remembered watching the event on the television news. She recalled her mother and grandmother crying. “My mother came to my room,” she said, “and told me before I went to sleep, ‘You are so lucky you are in Hong Kong, you are not in mainland China.’ ”

ED JONES/AGENCE FRANCE-PRESSE — GETTY IMAGES

The recent protests in Hong Kong have heightened residents’ allegiance to the city over the state.

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MONDAY, OCTOBER 20, 2014

MONEY & BUSINESS

Alternative to Hotels Draws More Business By MATT KRUPNICK

PHOTOGRAPHS BY ADAM FERGUSON FOR THE NEW YORK TIMES

Lot of Debt, Not Enough Water Rice farmers in parts of Thailand have been told to cancel a second planting because of severe water shortages. Left, at Mae Kuang Dam in Chiang Mai Province, the water level is the second-lowest since it was built two decades ago.

By THOMAS FULLER

DOI SAKET, Thailand — The junta that seized power in Thailand four months ago has used martial law and a crackdown on its critics to subdue the politically polarized country. But it may have more difficulty handling a fragile economy. Household debt is at a record high in Thailand, exports are flat, the number of tourists is well below last year’s count and experts say low levels at dams across the country are foretelling a severe water shortage. The central bank predicts economic growth of 1.5 percent this year. For the country’s millions of rice farmers, many of whom supported the government that the military overthrew, debt and a shortage of water are a one-two punch. In September, the local authorities asked Ampai Chaito and other rice farmers here in the northern province of Chiang Mai to abandon plans to plant a second crop this year because the water in a nearby dam was at the lowest level in more than a decade. Ms. Ampai fears she may not be able to repay the $6,000 loan she took out last year or pay the college tuition of her son. “He might not finish his education,” she said angrily after a day’s work in the paddies. “He’s smart, yes, but he has a poor mother.” As part of a government stimulus package announced this month, Ms. Ampai stands to receive the equivalent of about $130, but that is only a small fraction of the money she owes. Adding to Thailand’s unfavorable economic outlook are slowing growth in China, a major trade partner, and weak demand for two of Thailand’s leading exports: computer hard drives and automobiles. In a country with seven million farming households, the water shortage will affect the poorer segment of the population. Kuakoon Manasumphunsakul, a senior technician in the irrigation department of Chiang Mai Province, says the flow of runoff into dams is half the historical Poypiti Amatatham contributed reporting from Bangkok.

average because of an inadequate number of storms during the rainy season, which is almost over. “We have to be prepared for a drought — it’s definitely going to happen,” he said. “If we don’t start saving water, it will be severe.” The dam closest to the city of Chiang Mai is at 17 percent capacity, the second-lowest level since it was built two decades ago. Although the water shortage appears to be mostly the result of lighter rainfall this year — dams in Thailand’s southern neighbor Malaysia are also sharply below their average levels — Nipon Poapongsakorn of the Thailand Development Research Institute says the problem has been amplified by decisions of the previous government to release too much water from dams over the last two years to avoid a repeat of the devastating floods of 2011. Now the prospect of drought is leading to what Mr. Kuakoon calls “water wars” among the hotels and residents in cities, factories in industrial areas and farmers in the countryside. In addition to the north of the country, the authorities have warned farmers in the rice basket of the country, the basin of the Chao Phraya River, against planting a second crop this year because of the lack of water. Ms. Ampai, the farmer, said the ban on planting rice was announced through the municipal loudspeakers. She now hopes to plant other crops, possibly onions or garlic. But they will also require water from the dam “If they don’t release the water, we will go and protest,” Ms. Am-

pai said. “They are transferring too much water to the city.” The Bhumibol Dam, one of the country’s largest and the source of irrigation for a part of the rice-growing heartland, is at only 40 percent of capacity, a water level seen only three times since it began operations in 1964. The Thai central bank says farmers already have among the highest debt levels. Total household debt has doubled during the last four years, to over 10 trillion baht, or $306 billion, in the second quarter of this year, the equivalent of around 80 percent of the country’s gross domestic product and one of the highest rates in Asia. Amara Sriphayak, who recently retired as an assistant governor of the central bank, has warned that debt could cause a “huge decline in household spending rates” and create risks to the country’s financial stability. Warisara Suramonthaweekit, who manages a pawnshop near Chiang Mai, said, “People used to be very ashamed to come here.” But now customers “come from all walks of life.” Peak periods at pawnshops include the beginning of the school term, when parents need money for school supplies and fees, and the planting season, when farmers buy their seeds and other materials. At another pawnshop recently, Yutthana Rodchaem, a mechanic in the Thai Air Force, pawned a gold necklace for the equivalent of $500 to help pay for his daughter’s university fees. “I’m a low-level civil servant with four children,” he said. “Everything is so expensive these days.”

Like a growing number of business travelers, Lauren Hauber, a San Francisco resident, and her co-workers have started staying in apartments and houses managed through Airbnb, a service that allows travelers to rent space for short periods. This summer it created a site specifically for business travelers. Ms. Hauber and two colleagues rented a three-bedroom condominium in Austin, Texas, for an SXSW Eco conference this month. The apartment was less expensive and more convenient than hotels in the area, she said, and it had other benefits. “I really like having a kitchen,” said Ms. Hauber, who does business development for Wildlife Works, an environmental firm in Mill Valley, California. “I don’t feel like I’m losing anything by using an Airbnb.” Increasingly focused on budgets, companies large and small are starting to look beyond hotels to apartments and houses. The trend is part of a growing reliance on the so-called sharing economy, which also includes companies like the Uber car service and TaskRabbit, for help with everyday tasks. Airbnb declined to give the number of business travelers using the service, but at least 55 companies are using the site to plan business trips, said Lex Bayer, who heads Airbnb’s business development. “Typically, business travelers are good travelers,” he said. “Hosts enjoy having them.” Steve Puryear said most of the guests in his Austin condominium — including Ms. Hauber — were business travelers. “I was getting a lot of bachelor parties and stuff,” he said. “I wanted to steer toward business travelers. There are longterm residents in the building and noise complaints are expensive.” Airbnb’s primary competitor, HomeAway, has no plans to focus on business travelers, said Jon Gray, an executive with HomeAway. Business

trips account for 2 percent of the company’s bookings, he said. Airbnb has battled hotel owners and officials in cities from San Francisco to New York, and in Europe, as governments try to figure out how to tax and regulate the sharing economy. Meanwhile, the service has come in handy for GitHub, a San Francisco-based software start-up with about 150 employees who work outside the Bay Area. Many of those employees would have trouble finding hotel rooms during conferences, said Brian Doll, a GitHub vice president. “All the hotels are pretty much booked,” he said. “Anything that’s left is going to be six times the market rate.” Airbnb properties, which often include common areas like family or dining rooms, also

When hotel rooms are scarce, or too small for the team. give employees more working space than a hotel room, Mr. Doll said. “We might have four to six people traveling to a location to do work together,” he said. “Hotel rooms aren’t well suited for that.” Competition from Airbnb and others will force hotels to find ways to bring back business travelers, said Michael W. McCormick of the Global Business Travel Association. For now, he said, it is no wonder that companies are using the new service. “Travelers and companies are always looking for creative options.” The business travel market is still big enough for both hotels and Airbnb, Mr. McCormick said. “Yes, they are all competing,” he said. “But I think Airbnb is bringing something different to a different segment of the marketplace.”

ILANA PANICH-LINSMAN FOR THE NEW YORK TIMES

Steve Puryear at a condominium in Austin, Texas, that he rents to business travelers through Airbnb.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 20, 2014

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MONEY & BUSINESS

Arun Kumar bought a threebedroom house and a duplex in St. Louis. Right, an area of Jersey City popular with Indian investors. PETER Da SILVA FOR THE NEW YORK TIMES

A Wave of Investments In a Piece of America By DIONNE SEARCEY

Arun Kumar owns three apartments in New Delhi, where he has carved out a comfortable life as part of India’s rapidly expanding middle class. Not long ago, he also became a global landlord, picking up an inexpensive three-bedroom house and a duplex nearly 13,000 kilometers away, in St. Louis, Missouri. For Mr. Kumar and other affluent Indians, American real estate is a security blanket. Faced with what some have considered a bubble in real estate prices in major Indian cities and a sometimes jittery Bombay Stock Exchange, they are joining a wave of buyers from other countries who see the recovering United States housing market as one of the best places to put their money these days. The wealthy elite from China, Latin America and elsewhere have bought pieds-à-terre in glassy towers in Manhattan, luxury condos in Miami and homes along the West Coast. Law enforcement investigations have found that some foreign investors are using American real es-

tate holdings, at least in part, to hide cash and other assets from authorities back home. But many less-than-superrich foreign investors just want a safe place to put extra savings, and their investments tend to be much less grandiose than the trophy properties that have drawn most of the attention. And for Indians in particular, who long trusted in gold to protect their wealth, American real estate offers a “very, very attractive destination,” said Subir Gokarn, director of research at Brookings India in New Delhi. Jed Kolko, chief economist at Trulia, an online marketplace for residential real estate, said the most popular property searches for people from India were in and around Silicon Valley, where technology firms heavily recruit from India; in the Boston and Philadelphia areas near universities that have numerous students from India; and in suburban areas of New Jersey and in the Queens section of New York, where there are established Indian-American communities. Foreign buyers now make up

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24%

By DOREEN CARVAJAL

PARIS — Anticipation and anxiety both greeted Netfix’s recent expansion ito six European countries. French headlines warned of a “Tsunami Netflix.” German cable competitors have slashed the price of subscriptions. Switzerland’s largest cable operator introduced a new counteroffer and is rushing production of a sitcom. The stakes are high. Europe’s unified market and high Internet use have created ripe territory for American technology companies like Netflix, Amazon and Google. But as their reach grows, they are being assailed by European politicians and rivals. The fiercest resistance to the California-based company is in France. The local film producers association is complaining that it Yann Cres contributed reporting.

$343

$213

India

Canada

Source: National Association of Realtors

7 percent of total existing-home sales of $1.2 trillion, according to a National Association of Realtors survey. Of those, Indians represent 6 percent of the purchases, spending $5.8 billion, up from $3.9 billion over the same period a year ago and on par with buyers from Britain. Canada accounts for the largest share of buyers, but China is the fastest-growing source of clients. Buyers from India include parents who buy apartments for students attending college. After the students leave college, the parents often keep the apartment and rent it out. “It’s a good investment in their eyes and it can be a better deal instead of them paying dorm costs or renting somewhere else,” said Michael DiMella, a managing partner with the Charlesgate Realty Group in Boston. The riverfront Newport area of Jersey City in New Jersey has emerged as popular with Indian buyers.

On a recent evening, commuters returning home from Manhattan wove between the high rises, passing advertisements for Jhalak Dikhhla Jaa, an Indian reality dance TV show, and Raaz Specialty Indian Cuisine. Irene Barnaby, a broker with Weichert Realtors in Jersey City, said her Indian clients generally spent about $600,000 to $800,000 on condos. Padmanabhan Palani, president of the condo association board at the 443-unit James Monroe tower, said the area was comfortable for many people just arriving from India or elsewhere in Asia, because it resembles the high-rise districts of Mumbai and Hong Kong. Plus, he said, his building was close to the train station. “In a snowstorm, 100 meters is very important in how far you walk,” Mr. Palani said. Rohit Prakash, president of American Full House in Austin, Texas, is recruiting brokers to

round up Indian clients. His firm arranges limited liability partnerships helping his clients overcome tax issues and red tape that otherwise would apply to foreign investors. “There’s a sexiness to say I own property in the U.S.,” Mr. Prakash said. “But for them to know how to go about how to do this, they were clueless.” One of his clients is Mr. Kumar, who bought his St. Louis properties sight unseen, spending about $100,000 for a three-bedroom single-family home and a two-unit house. So far the investment hasn’t been as good as Mr. Kumar had hoped. One of the units sat empty for longer than expected, and a roof had a problem. “I’m hopeful this year it will be better,” said Mr. Kumar, who wants to buy property in Silicon Valley in the future. “In any case, I was looking at investment in the U.S.A. for the long term.”

Investors From Abroad

15%

China

ROBERT STOLARIK FOR THE NEW YORK TIMES

$350 6%

Britain

Buyers from five countries account for over half of international home sales, with those from India ranked third, paying a median of $343,000.

$141 5%

Mexico

Share of International home sales in the United States

Note: Data are for the 12 months ended March 2014

THE NEW YORK TIMES

Anxiety as Netflix Expands in Europe is engaging in “fiscal dumping” by establishing its European base in Amsterdam and avoiding taxes that national television channels and streaming services pay to subsidize French films. Netflix has been gradually extending its reach in waves in Canada, Latin America, Britain and the Scandinavian countries, and it is now available in over 40 nations. Analysts are predicting that Netflix could add four to six million users in the countries where it recently debuted: France, Germany, Switzerland, Austria, Belgium and Luxembourg. The new subscriptions will cost about eight euros, or about $10.30, a month. To expand the new audience, Netflix aims to develop serial dramas, comedies

and documentaries that appeal across borders, languages and interests. In Britain, it is backing “The Crown,” a series on Queen Elizabeth’s reign with an emphasis on political machinations. In Mexico, it is funding a comedy series about soccer club heirs. Netflix is also financing the Mediterranean answer to its original series “House of Cards,” the critically acclaimed political drama set in Washington. “Marseille,” an eight-episode French-language drama about power and corruption, will be filmed in that port city and depict politicians, drug lords and others battling for control, according to its creators. “It’s a very Shakespearean story, and I think it can

All others

also be very universal,” said Pascal Breton, who is producing it. French animators are also counting on Netflix. “The business model of animation is honestly only possible if you are capable of being broadcast in many countries, because animation is quite expensive,” said Olivier Comte, head of Ankama, which negotiated a deal for Netflix to stream its “Wakfu” series. But some producers worry that the country’s long tradition of art films will wither in a competitive market catering to mass tastes. The Association of Cinema Producers in France contacted Netflix executives to suggest discussions, but the calls were never returned, according to Frédéric Goldsmith, the head of the asso-

ciation, who said members were stunned by the sum Netflix offered for rights to some French films — as low as 1,500 euros. Netflix’s chief rival, Canal+, is battling back with television ads for its counteroffer for streaming. Manuel Alduy, head of the division that includes the company’s streaming service, argues that the Netflix catalog is “not really adjusted to local taste.” He characterized Netflix’s plans for the “Marseille” series as a “communication trick.” For Mr. Breton, however, Netflix offers an opportunity to create fresh programming. “French drama is still a bit like old-fashioned politics — a bit slow, people talk too much, and quite well written,” he said. “It doesn’t have the same tension as foreign shows, and we have to catch up with that. That’s what Netflix is offering us.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 20, 2014

SCIENCE & TECHNOLOGY

Giraffes, Popular But Misunderstood By NATALIE ANGIER

OK AVANGO DELTA, Botswana — Giraffes may be a staple of zoos, corporate logos and the plush toy industry, but until recently almost nobody studied them in the field. Giraffes are the “forgotten megafauna,” said Julian Fennessy of the Giraffe Conservation Foundation. “You hear all about elephants, Jane Goodall and her chimpanzees, Dian Fossey and her mountain gorillas, but there’s been a massive paucity of information about giraffes.” That is changing. Scientists have lately discovered that giraffes are not the social dullards they were reputed to be, but instead have much in common with the elephant. Female giraffes have been found to form close, enduring friendships. Male giraffes generally gain in rank and access to fertile females with age, and the alpha bulls flaunt that seniority: The twin ossicones that sprout like a snail’s tentacles on top of a giraffe’s head thicken and lose their charming tuftiness; a bony mass bulges up in the middle of the forehead; the neck musculature grows visible; and the male’s posture becomes ever prouder and more vertical. In clashes, each bull uses his massive neck as a sling to slam his head against his rival, sometimes to lethal effect. Giraffes are found throughout sub-Saharan Africa, classified as a single species but with up to nine subspecies. They are not listed as endangered, but in the past 15 years their number has plummeted to fewer than 80,000 from 140,000. A giraffe’s extraordinary mouth is like a set of human

hands: Its thick, prehensile lips and 45-centimer-long tongue can grasp a leafy branch, then pluck away the leaves while avoiding thorns and barbs. Each day, and often well into the night, a giraffe consumes about 35 kilos of leaves, shoots, vines and occasional bits of dried meat licked from bones, all digested in its four-chambered ruminant stomach. Giraffe eyes are among the largest of terrestrial mammals’; they can see in color and over great distances frontally, and their peripheral vision is so wide-angled they can essentially see behind themselves as well. A large giraffe can stand six meters tall. The challenge, then, is how to both pump blood very high and retrieve it from far below while avoiding burst capillaries in the brain or blood pooling around the hooves. Scientists have found that the giraffe has extremely thick blood vessel walls, while rugged, inflexible collagen fibers in its neck and legs help keep the blood moving, rather as the tight antigravity suits worn by astronauts and fighter pilots will maintain blood flow under the most extreme gravitational shifts. A complex mesh of capillaries and valves stores and releases blood in the neck, allowing the giraffe to bend over for a drink of water and then raise its head again quickly without fainting; when the giraffe is standing still, sphincters at the top of the legs limit circulation to the lower extremities, to minimize the risk of fluid buildup around the hooves. Heather More and Shawn O’Connor of Simon Fraser University in British Columbia mea-

Tracing The Origins Of Sleep By CARL ZIMMER

JULIAN FENNESSY

Giraffes are the ‘‘forgotten megafauna,’’ said Julian Fennessy of the Giraffe Conservation Foundation. sured so-called sensorimotor responsiveness in the giraffe: how long it takes a nerve signal to travel from a muscle in the ankle up to the brain and back again. Reporting in The Journal of Experimental Biology, the researchers found that the nerve conduction rate in the giraffe is similar to any other mammal’s. Given the greater distance a

nerve signal has to travel, Dr. More said, it’s possible the giraffe cannot react quickly to events below — a rock beneath its hoof, or a bite to its ankle. But for the giraffe, the feeding advantages that came with elongation clearly outweighed any diminution in reflex speed. No need to run when you can be a quiet poem masked by a tree.

Reinventing the Automobile, Without the Driver By AARON M. KESSLER

DETROIT — Google’s driverless car may still be a work in progress, but the potential for semiautonomous vehicles on the road is no longer the stuff of science fiction. By the end of the decade, a growing number of automakers aim to offer some form of handsoff-the-wheel, feet-off-the-pedals highway driving where a driver can sit back and let the car take control. The very nature of driving, experts say, will be radically reshaped — and the biggest players in the auto industry are now vying to capture a slice of the revolutionary market they see coming within a matter of years. “This is the year we’ll look back on as the turning point,” said Scott Belcher, president of the nonprofit Intelligent Transportation Society of America, who has helped organize a global connected car expo for seven years. “We’re at the cusp now of this completely new generation

Companies like Acura are testing autonomous technology advances that take over on the highway. JEFF KOWALSKY FOR THE NEW YORK TIMES

of transportation.” The connected car of 2020 will zip down the highway, pass other vehicles and possibly take the next off-ramp, all on its own. It will warn drivers of daily dangers like pedestrians or bicyclists suddenly crossing traffic. If drivers don’t react in time, the car could take over, braking or steering away. It will monitor drivers’ eyes and how often they close, to jolt them awake if needed. And parking? Cars will go find a spot, then return later, all on their own. Soon, vehicles will use a combination of sensors in the car

and communication between cars to transform the traditional driving experience. A report released this month by the consulting firm McKinsey & Company projected that the revenue associated with connected-car technology will grow to more than $230 billion by the end of the decade, about a sixfold increase from current levels. Active safety features like emergency braking and other semiautonomous driving capabilities are expected to capture the largest share of that revenue. Last month General Motors said that its Super Cruise tech-

nology — the company’s version of autonomous highway driving — will be available in two years on certain Cadillac models. Other automakers, including Honda, BMW and Volkswagen, are also planning hands-offthe-wheel offerings within five years. Gerald J. Witt, with the auto supplier Delphi, said the company was working on driver monitoring that by 2016 could be ready for production vehicles. The system would know if a driver was being distracted or falling asleep. The goal is to eventually tap into other aspects of the connected car, like the Internet connection, not only to warn drivers but also to offer timely suggestions. “If your eyelids are closing at a rate that shows you’re seriously fatigued, we could see the car say: ‘Hey, it looks like you’re tired; there’s a Starbucks up ahead in one mile. Want some coffee?’ ” Mr. Witt said.

Earth’s cycle of day and night rules our lives. When the sun sets, the encroaching darkness sets off a chain of molecular events spreading from our eyes to our pineal gland, which oozes a hormone called melatonin into the brain. When the melatonin latches onto neurons, it alters their electrical rhythm, nudging the brain into the realm of sleep. At dawn, sunlight snuffs out the melatonin, forcing the brain back to its wakeful pattern again. Scientists at the European Molecular Biology Laboratory in Germany study the activity of genes involved in making melatonin and other sleep-related molecules. They have compared the activity of these genes in vertebrates like us with their activity in a marine worm called Platynereis dumerilii. The scientists studied the worms when they were 2-day-old larvae. Many of them spend their nights near the ocean surface, feeding on algae and other bits of food. Then they spend the day at lower depths, where they can hide from predators. Maria Antonietta Tosches and her colleagues discovered that some cells on the top of the larvae make light-catching proteins — the same ones we make in our eyes to switch melatonin produc-

An invertebrate relies on melatonin to regulate activity. tion on and off. Dr. Tosches and her colleagues found that the worms didn’t produce melatonin all the time. Instead, they made it only at night, just as we do. The scientists also found that this nightly surge of melatonin allowed the worms to move up and down in the ocean each day. The worms travel by beating tiny hairs back and forth. During the day, they rise toward the surface of the ocean. By then the sun has gotten so faint that the worms start making melatonin. The hormone latches onto the neurons that control the beating hairs and cause them to produce a steady rhythm of electrical bursts. The bursts override the beating, causing the hairs to freeze and the worm to sink. When dawn comes, the worms lose their melatonin and start to swim upward again. The new study may help explain how sleep cuts us off from the world. When we’re awake, signals from our eyes and other senses pass through the thalamus, a gateway in the brain. Melatonin shuts the thalamus down by causing its neurons to produce a regular rhythm of bursts. Dr. Tosches said, “They’re busy doing their own thing, so they can’t relay information to the rest of the brain.”

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 20, 2014

Sanctity of Truth

ARTS & DESIGN

The Pitfalls of Fame in an Actor’s Return to the Fray By MELENA RYZIK

LOS ANGELES — The door to Michael Keaton’s house was wide open. Inside, the two-time Batman and one-and-only Beetlejuice emerged from the kitchen for a hello. He gave a tour of his living room in the Pacific Palisades neighborhood here. On the coffee table was a book about fly fishing written by Thomas McGuane, a friend and fishing buddy in Montana, where Mr. Keaton also has a home. In the corner, the baby grand piano played by his son, Sean Douglas, a songwriter. On the walls, muted landscapes and photography; Mr. Keaton is a collector, especially of midcentury, smoky Americana images. These days, his own photography is on Instagram, close-ups of ballgames, ranch living and safari. Movie sets and co-stars, not so much. “I’ve got a big life,” he said. “I’m curious about a lot of stuff.” Fans wondered, too, about the path of this versatile performer who made his name in the ’80s and ’90s in comedy, drama and cape, before seemingly disappearing. Meanwhile, Mr. Keaton, an actor known for mercurial tastes and turning down parts, was happily camped out in Montana, hiding in plain sight. Now his talent is resurfacing. In the dark comedy “Birdman or The Unexpected Virtue of Ignorance,” opening this fall in North America and in early 2015 across Europe, he plays a washed-up action star trying to make a comeback. Some parallels to his life

are intentional: Grappling with a superhero alter-ego — the Birdman of the title — his character is hoping to recapture artistic prestige, or a shred of what turned him on to acting in the first place. In the film, the results are bumpy. Off screen, though, it’s working out great. With Alejandro G. Iñárritu as director and co-writer, “Birdman” is generating the kind of critical response that leads to Oscar front-runner status. The film is a meta-commentary about the pitfalls of fame, ambition and ego, but it is delivering Mr. Keaton, 63, in a daredevil, career-defining role.

A film that in some ways parallels the career of its star. “The movie gets dark and gets weird, and it gets funny,” he said. As the balding, once fit, now paunchy Riggan Thomson, Mr. Keaton adapts, directs and stars in a stage adaptation of the landmark Raymond Carver story “What We Talk About When We Talk About Love.” The film follows along, often in spiraling close-up, as this idea unravels, taking with it Riggan; his Broadway co-stars, including Edward Norton and Naomi Watts as a theatrical power couple; and his daughter turned aide, a gloriously tart-tongued Emma Stone.

Throughout, he is haunted by the voice and vision of Birdman (also Mr. Keaton, in full latex plumage), who reminds him, mercilessly, of the celebrity he used to be. “When I finished the script, I knew that Michael was not the choice or option, he was the guy,” said Mr. Iñárritu, the filmmaker known for “Babel,” “21 Grams” and “Amores Perros.” Mr. Keaton, he said, had the emotional range and Everyman charm to offset the moody, narcissistic Riggan. “He’s one of the few guys in the world who has worn that cape,” he continued, referring to the 1989 and 1992 “Batman” films. “The authority and the relatability that he gave, all those were essential.” But when they met over dinner to discuss working together, “the first thing he said to me was, ‘Are you trying to make fun of me?’ ” Mr. Iñárritu recalled. The film, he said, may fit Mr. Keaton, but it was inspired by the director’s own life. “When I’m working, my Birdman, my ego, becomes really big,” he said. “It can elevate me, and, 30 minutes later, it destroys me.” “Birdman” functions as a backstage satire (there is a biting theater critic from The New York Times) and an insider’s laceration of Hollywood life and pecking order. But Mr. Norton found universal themes. “Everybody wants approval,” he said. “Everybody gets to the point in their life where you feel like you’ve drifted from the vision of yourself that you’ve had at earlier, more

MICHAEL LEWIS FOR THE NEW YORK TIMES

‘‘I’ve got a big life,’’ said Michael Keaton. ‘‘I’m curious about a lot of stuff.’’ At his home in California. idealistic times.” Mr. Keaton said it was no accident that “Birdman” came his way now. Some of it was good fortune, and “some of it was me making this happen,” he said, by casting for work, which he has done more of recently, as the rest of his life — home, family — has felt settled. He did not like Riggan, “but I can’t say there weren’t scenes where I didn’t identify with him,” he said, especially in the superhero hysteria and its aftermath. Mr. Keaton began as a standup and has the born performer’s habit of acting out all his stories, for which his expressive face and Jack Nicholson eyebrows seem purpose built. Mr. Keaton had his big break with the 1982 comedy “Night Shift,” after which he sought out unlikely roles, a template he’s

kept through his career. He admitted to taking some low-quality Hollywood jobs for the easy money, while raising his son, now 31. And as he waited out shifting tastes in the entertainment industry, he did other things, like a fishing show for the Outdoor Channel. Compared with other stars, “he’s a different kind of a cat,” said Mr. McGuane, his fishing buddy, whose friendships have included Marlon Brando and Steve McQueen. “He’s had plenty to do, by choice, that has had nothing to do with making movies.” Perhaps that kept his Birdman at bay. “My father always used to say to me, ‘When you have success, just taste it and spit it out, because it’s really poisonous,’ ” Mr. Iñárritu said. “I think Michael has been there.”

Broadway Takes a Step Toward the Big Screen By LORNE MANLY

Efforts to screen high-definition broadcasts of Broadway shows in movie theaters have been halting and frustrating. But the latest — the recent Broadway production of “Of Mice and Men” — could augur a boost in HD broadcasts of commercial theater. Beginning in November, the play will be beamed into about 1,400 theaters around the world. At the same time, a joint venture between Broadway Worldwide, a production company, and a Chinese entertainment and media conglomerate has announced it will begin capturing live-in-performance Broadway musicals. The National Theater, the Royal Opera, the Bolshoi and, most successfully, the Metropolitan Opera have heavily marketed HD broadcasts, attracting international audiences along the way. But Broadway offerings have been few, the most notable being “Memphis” and “Jekyll and Hyde,” largely because deals need to be cut with unions and members of the creative team. When David Binder, the lead producer of “Of Mice and Men,” was putting together its 19-week

run, beginning in April, an HD broadcast wasn’t in the offing. But toward the end of June, after the show’s two Tony nominations and recoupment of its $3.8 million capitalization, James Franco, its creatively restless star, became intrigued by the idea of translating the production into a different medium. Mr. Binder said: “He came to me and said, ‘How do we do it, David?’ ” Mr. Binder called Tim Levy, who runs the National Theater of London’s office in New York. The National had started National Theater Live in 2009 with a production of “Phèdre,” starring Helen Mirren. Since doing five broadcasts that season, it has ramped up to between eight and 10 and expanded beyond its own fare. First came shows by other theaters in the subsidized arts sector in Britain, like the Donmar Warehouse’s “King Lear”; now, shows in the commercial realm are on the roster, including its first West End production, “The Audience,” filmed last year. Conquering Broadway was next. There had been previous approaches, but nothing stuck. “Of Mice and Men,” which also starred Chris O’Dowd and Leighton Meester, had the right profile.

James Franco, far left, and Chris O’Dowd in the recent Broadway production of ‘‘Of Mice and Men.’’ The play will be screened in movie theaters.

SARA KRULWICH/THE NEW YORK TIMES

The world to get ‘Of Mice and Men’ in high definition. “We see a wide appetite for limited-engagement, star-driven shows,” said David Sabel, the National’s director of broadcast and digital. Spurred by Mr. Franco and Mr. Binder, the producing and creative teams behind “Of Mice and Men” quickly signed on. It also didn’t hurt that National Theater Live was picking up the entire

cost of producing and distributing the broadcast, which topped an estimated $1 million. The creative team wrestled with adapting the show. There were obvious tweaks to be made: lighting adjustments and subtler makeup for the five all-seeing high-definition cameras. More knottily, there was much discussion on how best to capture what was transpiring onstage. “The action isn’t always in the obvious spot,” Mr. Binder said. “It might be upstage with the character who’s sitting up there, who’s listening and reacting.”Profit — or the lack of it — remains a bedeviling issue for those looking to film Broadway

shows. The nonprofit National Theater hasn’t lost money on any of its HD broadcasts for the last two years, Mr. Sabel said. But its productions cost significantly less than those on Broadway, “Memphis” has had two runs and has brought in about $2 million, slightly less than the $2.5 million it cost to produce. Even movie stars — like Orlando Bloom, who starred in the “Romeo and Juliet” released by Broadway HD — are no guarantee of box office success. Mr. Franco and the team behind the “Of Mice and Men” broadcast hope that at least in this case, Steinbeck will resonate more than Shakespeare.

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 20, 2014

ARTS & DESIGN

Leading a New Wave Of Caribbean Writers

CLOCKWISE FROM TOP LEFT: COURTESY OF CONDÉ NAST ARCHIVE, CONDÉ NAST PUBLICATIONS INC., NEW YORK; MARIO TESTINO; CONDÉ NAST/HORST ESTATE, VIA VICTORIA AND ALBERT MUSEUM

Clockwise from top left: ‘‘Actress Gloria Swanson,’’ 1924, Edward Steichen; ‘‘Traditional Women’s Dress,’’ 2007, Mario Testino; “Mainbocher Corset,” 1939, Horst P. Horst.

Fashion Photos, in a New Light By MELANIE ABRAMS

“Fashion photographers are the new painters,” Peter Lindbergh said as he was preparing the show of his dramatic blackand-white images at the Gagosian Gallery in Paris. Who would have guessed in the heady 1980s — when Mr. Lindbergh’s new, natural images of Linda Evangelista, Cindy Crawford and others created the supermodel — that the art world would lose its disdain for fashion photography’s commercialism? Today, fashion photography is art’s rising star, drawing crowds and enticing collectors. Even the fashion industry is showing more respect for the form. Big names are in museum spotlights, from Horst’s classical elegance at the Victoria and Albert Museum in London, to Mario Testino’s “Alta Moda,” Peruvians in local dress, at Dallas Contemporary. Mark McKenna, executive director of the Herb Ritts Foundation, pinpointed the 2008 economic downturn as the catalyst for fashion photography’s emergence. “People wanted to surround themselves with images of glamour and beauty as things were tough, and fashion photos represented the opposite of what was happening in their day-today lives,” he said. With the explosion of streetstyle blogs, Instagram and Pinterest, fashion photography has become the new visual language. “We’re very conscious about what people look like now, so that is how we see photos today,” said Michael Hoppen, whose gallery in London represents fashion favorites such as Ellen von Unwerth and William Klein. At the Smithsonian American Art Museum in Washington, Elizabeth Broun, its director, said, “We are much more accepting of

fashion photography because we have moved from high art to an all-embracing visual culture.” Several shows have had the crowds to prove the appeal: Consider the 2012 Ritts exhibit at the Getty Museum in Los Angeles, which drew 364,656 visitors, or Mr. Lindbergh’s “Images of Woman and the Unknown” this spring at Gallery HDLU in Zagreb, Croatia. It attracted 11,200 visitors in three weeks, making it, the gallery said, the most popular contemporary art event of the last 10 years in Croatia and neighboring countries. From an art venue’s standpoint, fashion exhibits also produce new commercial opportunities. Brett Rogers, director of the Photographers’ Gallery in

Art’s rising star is appealing to crowds and collectors. London, said the gallery’s rental for corporate events increased an average of 20 percent when it shows fashion photography like the elegant flappers of Edward Steichen and the edgy, vibrant looks of the Dutch photographer Viviane Sassen, both to debut on October 31. “Some photography shows are too provocative for corporates,” she said, “but beautiful clothes mean more businesses want to be linked with and entertain in these rooms.” Fashion photography has also become an increasingly attractive investment. Auction prices have soared, with fashion photography regularly topping the tallies thanks to famous names

such as Richard Avedon, Helmut Newton, Irving Penn and now Mr. Lindbergh. For example, two of the three top lots at Christie’s New York photography sale in April were Penn images: “Woman With Roses on Her Arm (Lisa Fonssagrives)” sold for $185,000. International markets also have been responding to fashion photography’s appeal, which is why Arnaud Adida, founder of the A. Galerie in Paris, said in an email interview that he took only fashion images to display at Photo Shanghai, the city’s first international photography fair, held in September. Mr. Adida said his stand, which showcased images such as Patrick Demarchelier’s 1994 intimate portrait of Kate Moss and Carla Bruni, proved to be so popular that within a week of the event he had made enough sales to recoup his expenses. Fashion photography is also more recognized as a big part of the fashion industry today, said Inez Van Lamsweerde, who, along with Vinoodh Matadin, make up a well-known duo in the field. Their digitally manipulated fashion images are often seen in spaces like the Whitney Museum of American Art and the São Paulo Biennial, in Brazil. “We translate the designers’ idea into an image that people buy,” Ms. Van Lamsweerde said. “Nowadays this is valued more because of the Internet and the need for attention-grabbing content on the web in our image-saturated culture.” With fashion institutions financing major cultural events, like Chanel’s sponsorship at the Hyères fashion and photography festival in France, many see photography’s role within art continuing to grow. After all, Mr. Lindbergh said, “art is after fashion’s big bucks.”

By LARRY ROHTER which Mr. James described as “a very conscious template.” The novelist Marlon James Characters based on real-life grew up in Jamaica in the 1970s, people, including Cuban exwhich means he has a child’s memories of that politically iles and their C.I.A. handlers, turbulent and culturally ferplay central roles in the novel. Jamaican politicians like the tile period. But as an adult, he rival former prime ministers keeps circling around that time Michael Manley and Edward and place in his mind, trying to Seaga are very much present, make sense of what he could too, along with leaders of the perceive only dimly then. “garrisons,” the communities Out of that quest comes his and criminal militias that their third novel, “A Brief History parties controlled. of Seven Killings,” which beMr. James warns, though, gins as the optimistic glow of that “if you are going to read independence is giving way to this as history, you’re bound to the harsh realities of Cold War be disappointed and confoundpolitics and the rise of gangs connected to the country’s two ed.” A lot of the novel, he said, is main political parties. Crack “just me being a trickster.” cocaine appears and the gangs But he does remember overgo international, setting up hearing as a child some of the operations in Miami and New stories he incorporates into the York. novel. His mother was a police “The idea for this book is the detective and his father a povery first I had, even before the lice officer who became a lawother two novels, because I alyer, “so the world of crime and politics and disturbances was ways was interested in writing always around,” he said. about the Jamaica I grew up A few years ago, Mr. James in,” Mr. James said. “I thought said, a European interviewer it was going to be a short novel, began a question to him with that it was one person’s story. “as someone who escaped the But I was wrong, because hisghetto....” He remembers obtory is always shaping everything.” jecting: “I grew up in the subAt 43, Mr. James is part of a new generation of Caribbean writers whose main cultural reference, aside from their home countries, is the United States rather than their former colonial power (in Jamaica’s case, Britain). Mr. James calls himself a “post-postcolonial writer” with a hybrid intellectual BRYAN DERBALLA FOR THE NEW YORK TIMES backg rou nd . So while he read Shake“If you are going to read this speare and Henry as history, you’re bound to be Fielding in school, disappointed and confounded.” he noted, he also listened to Michael Jackson; his novel MARLON JAMES makes references to Andy Gibb’s “ShadAuthor of “A Brief History of Seven Killings” ow Dancing.” “Our sense of what it means to be a real Caurbs, like every other kid in every other part of the world. ribbean person is much more We had two cars, and we arexpansive, fluid and complicated” than that of earlier genergued about things like ‘Is “T. J. Hooker” better than “Starsky ations, said Nicholas Laugh& Hutch?” ’ ” lin, a Trinidadian writer and Mr. James describes himcritic. “Marlon is a writer who not only makes a mess of those self as “bilingual,” fond of usboundaries and definitions, he ing dialect in speech and also totally obliterates them.” to discuss serious questions “Seven Killings” centers on of race, class and politics in the assassination attempt on the novel, but equally comBob Marley in December 1976. fortable employing standard Marley is called simply the speech in interviews and the Singer in the novel, Mr. James classroom, with an accent that said, because his persona is beginning to incorporate risked overwhelming the novel, the flat tones of the American which is just under 700 pages. Midwest. “I needed him more to hov“When we are taking our business out in the public, that’s er over the book, as opposed not how you are supposed to to being in the middle of it,” he speak,” he said of patois. “It’s explained. He said he found an embarrassment” to older a solution when he read Gay and middle-class Jamaicans, Talese’s Esquire magazine he added, “especially if they article “Frank Sinatra Has a hear I’m an English teacher. Cold,” which focuses on the cir‘Why are you speaking broken cle around that singer. Another English?’ As if this is somehelp was Roberto Bolaño’s novel “The Savage Detectives,” thing that needs to be fixed.”

Business | Money Line

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Interbank rates flat as FG hikes bond yields TRANSACTIONS The expected distribution of budgetary allocations reassures financial market operators of stable atmosphere Godson Ikoro

WITH AGENCY REPORT

igeria’s interbank lending rates were unchanged for the third straight weeks at 10.37 per cent at the weekend, supported by a large pool of naira liquidity and expected large cash flows in the coming weeks. Traders said the Central Bank of Nigeria repaid N218 billion ($1.32 billion) in mature Open Market Operations bills this week. Given the expectations that monthly budgetary allocations will soon be disbursed to government agencies put the market in a comfortable position. Although market liquidity opened with a

cash balance of around N431 billion last Friday, lower than the N550 billion surpluses the previous Friday, traders said more cash flow from budget allocations and planned retirement of about N978 billion at the end of October by the country’s “bad” bank calmed the market. “The expectation of additional cash flow from budget allocations next week, and AMCON’s (Assets Management Company of Nigeria) plans to retire about N978 billion bonds by October 31, helped to stabilise interest rate,” one dealer said. The open buy-back rate was flat at 10.25 per cent last week, 1.75 basis points below the CBN’s benchmark interest rate of 12 per cent. Overnight placements also remained flat at 10.50 per cent for the third consecutive week. Traders said NNPC recalled a portion of its deposits with some banks to its account with CBN this week, while cash flows to OMO bills and bond auctions led to reduction in system cash balance. Meanwhile, the nation priced its three-year government bond at 12.14 per cent at Wednesday’s

year stood at 12.91 per cent, up 14 basis point. Financial markets in Nigeria have been under pressure as foreign investors exit naira assets because of declining global oil prices and a weaker local currency, which has lost 3.7 per cent since the beginning of the year. The naira closed at 165.35 to the US dollar, its weakest in at least eight months, as investors rushed to repatriate mon-

auction, up 102 basis points from the previous sale, to attract foreign investors not comfortable with falling oil prices and a weakening naira. The Debt Management Office said at the weekend that yields on its longer-term 10-year and 20-year government bonds were priced for sale at more than 30 basis points higher than at its last debt auction, in September. The foreign investors who are significant buyers of Nigerian debt were not rolling over bonds at maturity, analysts said. Instead, they were sending their money abroad to safe havens as interest rates in the United States begin to normalise. Demand for government notes from Africa’s biggest economy dropped to N116.31 billion from N174.01 billion in September. “There was some buying interest as the market sold off yesterday. Some domestic investors took advantage to take position,” one dealer told Reuters. At the secondary market, yield on the three-year most liquid bond rose 7 basis points to 12.81 per cent. The 10-

CBN identifies impediments to financial inclusion Godson Ikoro

he Central Bank of Nigeria at the weekend identified poverty, illiteracy, uncompetitive wage and deficient Know Your Customer (KYC) checks as major impediments to its drive to reduce the 40 million people estimated to be financially excluded Nigerians through its financial inclusion programme. A 45-page report on Financial Inclusion in Nigeria: Issues and Challenges, authored by U. Kama and M. Adigun, and posted on the apex bank’s website, said that the major challenge in the financial inclusion process was how to ensure that the poor rural dwellers were carried along considering the lack of financial sophistication among this segment of the Nigerian society, a consequence attributed to general low level of financial literacy. According to the report, majority of the estimated 40 million financially excluded Ni-

Economic Indicators As at M2* CPS* INF IBR MPR 91-day NTB DPR PLR Bonny Light Ext Res**

N14,737,618.7m N16,509,472.5m 8 0.0000 12 10.899 7.96 17.01 US$109.9 US$42,604,781,796.6

Description

TTM

4.00% 23-Apr-2015 13.05% 16-Aug-2016 15.10% 27-Apr-2017 16.00% 29-Jun-2019 16.39% 27-Jan-2022 10.00% 23-Jul-2030

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Dec, 2013 Dec, 2013 Dec, 2013 2/5/2014 1/20/2014 11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 2/5/2014 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

Bid Spot ($/N) 163.28 THE FIXINGS –NIBOR,NITTY and NIFEX of February 6,2014

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

gerians lack knowledge of the services and benefits derivable from accessing financial services, while staff of the service providers often display lack of adequate understanding of the services and so unable to educate effectively. The lenders watchdog said that the sub-optimal outcome from attempts to increase Customer awareness was reflected in the lack of appreciable progress in the literacy level of the populace. This has remained a major impediment to the progress of the financial inclusion. Another major challenge, especially from the part of growing saving, is the inability of the populace to save as a result of double digit inflation in the economy, with its attendant effects on real interest rate and continuous loss of money value. Added to this is the disincentive negative real interest rates obviously have made potential savers remain with other non-bank avenues for savings.

Why Sterling Bank supports Social Media Awards Africa

Treasury Bills Maturity Date 08-May-14 07-Aug-14 22-Jan-15

ey to safe havens, dealers said. The debt office raised N30 billion in 10-year debt at 12.79 per cent, up 57 basis points. The 20-year paper fetched 12.69 per cent to raise N25 billion, up 31 basis point from September’s auction. It raised N18.6 billion in three-year debt. The debt office sold an additional N10.33 billion in 10-year bonds on a non-competitive basis at 14.20 per cent, it said.

Open-Buy-Back (OBB) Overnight (O/N)

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

terling Bank has attributed its decision to support the 2014 Social Media Award Africa on the need to recognise and celebrate excellence, creativity and the impact of social media on human socio-economic development across the continent. The Bank’s Group Head, Strategy and Communications, Mr. Shina Atilola, in a statement, said that the award also provided the platform for the bank to further consolidate its position as a leading light in the social media space. Atilola added that the bank could not overlook the importance of social media in today’s society and the increasing role it played in the lives of people on a daily basis, hence the need to identify with the award. Explaining the modalities for the award, the Project Lead of the award, Mr. Femi Aderibigbe, said that there were nomination opportunities into four categories of 15 awards, “interested indi-

viduals and organisations can nominate from October 1 till 27, 2014 for a chance to win any of the coveted awards. All entries will be judged on influence, originality, creativity, scalability and impact. The judging process will see winners emerge through an open and credible system involving the general public, a virtual council and jury,” he added. He listed the award prizes to include dollar denominated cash prizes, professional and institutional trainings on social media and access to mentorship opportunities amongst other benefits for excellence and impact in social media practice. The Social Media Africa Initiative is supervised by an Advisory Board of respected individuals including the CEO, CrowdCentric and Founder, Social Media Week, Toby Daniels; , Executive Director, West African NGO Network (WANGONeT), Tunji LardnerIni Onuk, amongst others.

Business |News

NOVELTY

Increased innovations will stimulate employment and create value for investors

Godson Ikoro

he National Summit on entrepreneurship and innovation (NSEI) targets to boost Nigeria’s business density index to 100 per cent by next year, Chairman, African Centre for Business Development Strategy and Innovation, Mazi Sam Ohuabunwa, has said. At a press briefing on the forthcoming National Summit on Entrepreneurship and Innovation (NSEI) 2014 slated for November in Lagos, Ohuabunwa stated that Nigeria’s business density, a measure of the growth of entrepreneurship, was 0. 91, according to 2012 World Bank statistics. Although this represents an appreciable growth from the nation’s rating of 0.32 in 2004, he argued that the country was significantly behind such developing economies as Uganda, 1.17; Tunisia, 1.52; Malaysia 2.28, South Africa, 6.54 and Singapore, 8.04. He noted that global development was entering a phase where entrepreneurship would increasingly play a more important role than ever

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Nigeria’s business density index to hit 100% before. Citing World Bank analysis of business growth in 2013, Ohuabunwa contended that the biggest difference between the developed and developing economies lay in their innovative performances. He emphasised that while entrepreneurship and innovation were very critical for economic growth, they have become increasingly important for addressing major development challenges, such as the ones relating to inclusion and sustainability, adding that the nation could increase its business density index 0.91 to at least one or 100 per cent. The former Chairman of Nigeria Economic Summit Group and former Chairman of Neimeth Pharmaceutical Company Plc believes that there is an urgent need to conscientiously transform the structure of Nigeria’s economy by propelling positive industrial trends through the growth and small scale industrial group and eventually large scale manufacturing sector. It was on this premise that the national summit was predicated. According to him, the NSEI summit is an integrated programme spe-

cially designed to bring together policy makers, industry leaders, flourishing entrepreneurs, and aspiring entrepreneurs in Nigeria and West African region. NSEI, he said, is intended to bridge the gap between policy makers and investors and between entrepreneurial aspirations and market opportunities. Other objectives are to

An annual $83 billion investment is needed to feed growing world population Dele Alao

he Food and Agriculture Organisation (FAO), has said that an average net investment of $83 billion a year will be necessary to raise agricultural production by 60 per cent and feed the global population of over nine billion expected by 2050. This is coming in the aftermath of governments from around the world approving a landmark set of principles meant to guide investment in agriculture and food systems.

The principles are aimed at assuring that cross-border and corporate investment flows lead to improved food security and sustainability and respect the rights of farm and food workers. The Principles for Responsible Investment in Agriculture and Food Systems were approved by the Committee on World Food Security (CFS). Last Thursday, the world celebrated World Food Day themed: “Family farming: Feeding the world, caring for the earth.” It is estimated that no fewer than 805 million people in the world lack enough food to lead a healthy, active life, representing one in nine people on earth. Meanwhile, the Director-General, FAO, José Graziano da Silva, has

formation of strategic alliances, partnership and collaborations that will further strengthen organisations and increase their success potentials. The objectives also include creating opportunity for the celebration of successes (by government and private sector organisations), and realigning to confront current and future challenges.

L-R: Managing Director, Midcom Group, Mr Akash Kumah; Deputy Managing Director, First City Monument Bank (FCMB) Limited, Mr Segun Odusanya; Group Managing Director/CEO, Mr Ladi Balogun and Managing Director/ CEO, Nestle Nigeria Plc, Mr Dharnesh Gordhon, at a dinner hosted by FCMB to celebrate this year’s International Customer Service Week, in Lagos.

Feeding global population requires $83bn yearly -FAO INVESTMENT

create a forum that will facilitate policy communication, adoption and refinement and contribute to the development of SMEs in Nigeria; create opportunity for entrepreneurs to access information that can promote their businesses, and make a difference in the bottom line; create opportunity for networking among entrepreneurs, and thus stimulate the

lauded the Principles for Responsible Investment in Agriculture and Food Systems agreement, saying that a clear and unified set of principles would “enable larger and more sustainable investment in agriculture while also making all stakeholders responsible for creating the conditions for the principles to be met. “The private sector will play an important role in implementing the principles. FAO stands ready to assist governments and all stakeholders into transforming the principles into reality, as we are also doing with the Voluntary Guidelines on the Responsible Governance of Tenure,” he said. The Principles were hammered out over two years of consultations and negotiations.

CONTINUED FROM PAGE 21

they lead us through to come up to their own standard, why would you have to send somebody to GE school in the United States instead of sending him here? This is why we are looking at our faculty, this is why we are looking at our curriculum, this is why we are looking at our training and equipment, simulators and electrical engineering training laboratory which we are about to establish in about three more locations. “We already have one in Kanji, a comprehensive one and a simulator in Ijora, Lagos, but we want to get it across the country in three other locations so that at least, if any private institute wants to come in it is free. We are talking of almost 8,244 new engineers that will be required, trained engineers, skilled engineers that will be required to support 40,000 megawatts by the year 2020.” According to him,

Aged engineers endanger $18bn power investments there has been a dramatic reduction in the number of power accidents and equipment failure in the nation’s electricity sector as a result of the expansive trainings and re-trainings undertaken by the Institute for workers in the sector. “Since we started in 2009, we have been able to train about 5,244 of those who are in PHCN, and when you talk about PHCN you are talking about almost the entire power sector because PHCN is almost about 95percent of the power sector in Nigeria. “Before we started this training, the newspapers were filled daily with reports of power accidents and failure of equipment, and it was rampant. This means that even though the level of generation got up to 4,500MW, if people are not getting this power it would be of little or no consequence

how much power you generate. So, for you to get the 4,500MW to those who need it, a lot of things have to take place and the biggest of them all is manpower.” He added that “failure of equipment has reduced, rate of accidents both to customers and staff has reduced and we can conveniently affirm that the training that we are doing has had a direct impact on the improvement in this area and I can tell you that that must have been one of the things that gave us a global recognition that we are talking about so it has impact but we are not yet there. “First of all, employment in the power sector has not started, we are dealing with those who are already in and like you know majority of them are retiring so we have huge manpower gap.”

Business | Stock Watch

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

RECEDING

Increased competition stifles profits Chris Ugwu

espite the perceived boom in Nigeria’s hospitality industry with quality and classifications, it has also continued to grapple with a mixture of positive and negative challenges. The industry faces many challenges including instability in power supply, security, negative global publicity and the effects of the general issues facing the growth of tourism in Nigeria. There is no doubt that the security challenges in some parts of the country with the attendant consequences of loss of lives and properties, the Ebola virus scare, domestic constraints such as depletion of fiscal buffers, dwindling foreign reserves, erratic supply of public electricity, poor infrastructures, among others have remained a thorn in the business environment. While some companies have been able to successfully weather the storm notwithstanding the difficulty posed by these challenges, others are yet to. Ikeja Hotels Plc is one of those companies in hospitality market that have remained under cost pressures on many fronts as the hotel struggles with high financial leverage and tight topline. While the turnover witnessed low growth and the company held tightly to operating expenses, financial expenses have also continued to weaken the bottom-line as it has remained susceptible to the challenges facing the hospitality industry in Nigeria. However, market sentiments for the shares of the company have remained firm despite the massive sell off the equities market has witnessed in recent time. Stockbrokers attributed improvement in the share price to investors’ sustained confidence on the back of build up to 2015 elections which is expected to increase revenue for hotel business in the country. The share price, which closed at 72 kobo per share in November 30, 2013, recorded an appreciable growth. When the closing bell rang on Friday, the company’s share price stood at N2.90, an increase of N2.17 or 75.08 per cent year to date.

Ikeja Hotels Plc: Grappling with operating challenges ing of December 2012 financial result, while Aso Savings was fined N5 million for late filling of its financials for the same year. For failing to file its 2012 result as at when due, International Energy was fined N5.4 million, while Abbey Building, National Salt Company and Austin Laz paid N200,000 (Two hundred thousand naira only), and N300,000 (Three hundred thousand naira only) respectively for late filing of 2013 results. On the other hand, Interlinked Technology was fined N2.9 million for late filing of interim result for the period ended June, 2013. The Exchange noted that it applied the sanctions in accordance with the provisions of Section 14 of Appendix 111 of its Listing Rules. “Companies that are listed on the Exchange are required to adhere to high disclosure standards which are prescribed in Appendix 111 of the Listing Rules. Financial information, which is periodic disclosure and ongoing material events disclosure, should be released to the Exchange in a timely manner to enable it efficiently perform its function of maintaining an orderly market,” the NSE said.

Ibru

Share price movement of Ikeja Hotels Plc 2013 Nov 30

72 kobo

Dec 31

78 kobo

2014 Jan 31

73 kobo

Corporate profile Ikeja Hotel Plc, formerly Properties Development Limited, was incorporated on November 18, 1972. It owns the Sheraton Lagos Hotel, a core investor in Capital Hotel Plc (Owners of Sheraton Abuja Hotel) and a core shareholder in the Tourist Company of Nigeria (Owners of Federal Palace Hotel & Casino, Lagos). The principal activities of the company are operations of hotels and provision of catering services. Ikeja Hotels was listed on the floor of the Nigerian Stock Exchange on August 6, 2007.

Feb 28

66 kobo

Mar 31

60 kobo

Apr 30

63 kobo

May 30

90 kobo

Jun 30

82 kobo

Jul 31

76 kobo

Aug 29

78 kobo

Sept 30

N1.66

Oct 17

N2.89

Financials Ikeja Hotels Plc has continued to struggle with lower revenue and declining bottom-line as it recorded a 60.4 per cent drop in pre-tax profit during the financial year ended December 2013. The group’s Profit Before Tax (PBT) as contained in a filing with the NSE showed N1.627 billion during the review period of 2013 as against N2.610 billion posted in comparable period of 2012, indicating a drop of 60.4 per cent. Also, the company’s profit After Tax (PAT) dropped by 102 per cent

from N2.016 billion in 2012 to N994.806 million in 2013. Revenue for the group stood at N11.223 billion which represents 0.35 per cent decline from 2012 results of N11.263 billion. A cursory look at the first quarter 2014 financials showed the company’s profit before tax dropped by 36.4 per cent from N343.063 million to N251.443 million. After taxes, net profit also

dropped by 36.4 per cent to N170.981 million in 2014 compared with N233.283 million in 2013 while turnover declined by 4.9 per cent from N1.597 billion in 2013 to N1.522 billion in 2014. Ikeja Hotel also posted 17.4 per cent drop in revenue during the half year ended June 30, 2014 as it continues to grapple with operating challenges. In a filing with the Nigerian Stock Exchange, the financial statement for the first six months through June 2014 showed that the company’s revenue fell by 17.4 per cent to N2.73 billion from N3.20 billion the same period of the corresponding year of 2013. The company recorded a loss after tax of N41.561 million during the period under review as against profit of N527.790 million posted in the comparable period of 2013. Regulatory issues The Nigerian Stock Exchange had imposed N19.6 million fine on Ikeja Hotels Plc, Aso Savings and Loans Plc, and five other quoted companies for late submission of their respective audited financial statements for years ended 2011 and 2012. Others are International Energy Insurance Plc, Abbey Building Society Plc, Interlinked Technologies Plc, National Salt Company of Nigeria Plc and Austin Laz & Co. Plc. According to the NSE in its latest X-Compliance report for the week ended May 30, 2014, the companies did not submit their results after the regulatory due date. Ikeja Hotels Plc was fined N5.5 million for late fill-

Profit deflators The hit at the top-line level, according to market watchers, was caused by operating challenges such as increased competition from new entrants like Intercontinental Hotel and four star resorts in the whole of Lagos metropolis. This also caused reduction in room lodgments, which is a major revenue driver. They also blame the decline in profit and turnover on the security challenges in the country, which they agreed is having negative effect on tourism and the hospitality industry. The insecurity challenges coupled with Ebola virus scare slowed down international travel into the country and many government functions were also cancelled or moved to areas perceived to be relatively more secure. The security challenges currently engulfing Northern Nigeria is also having adverse effect on tourism and the hospitality industry in the country as companies in the sector are recording declining profits. Addressing shareholders at its 39th Annual General Meeting (AGM) in Lagos, the Managing Director of the company, Mr. Goodie Ibru, said the year under review posed a number of operating challenges to the company, adding that the major one was competition from new hotels both in the catchment area of Sheraton, Ikeja and in Lagos. He noted that the company had completed the acquisition of controlling interest in Capital Hotel Plc, adding that they were now focusing on addressing the challenges facing it in order to put the company in a position that would make it function efficiently in the present state of hotel business in the country. Ibru noted that the company had put behind it the cost of acquisition of controlling interest in Capital Hotel Plc, adding that the immediate challenge was to reposition Sheraton Hotels Lagos to meet the growing competition in the Lagos metropolis.

Business | Capital Market Report

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Nigerian stocks lose N742bn in one week PLUNGE

Sell pressure mounts on Nigerian stocks as recapitalisation fever grips investors Chris Ugwu

he Nigerian equities market, last week, recorded massive sell offs that was unprecedented in the history of the stock market. Market watchers are apprehensive that the market is again witnessing the 2007 trend that led to its crash. For trading to go on for a whole week towards the negative direction raises concerns in the investment community. They fear that the consistent sell pressure recorded last week was a pointer that the market may crash, if adequate measures are not taken. The effect of the sell pressure was a loss of N742 billion or 5.8 per cent in market capitalisation and 2246.66 basis points within last one week of trading. The low sentiment in the market had overshadowed the local bourse in recent times following upset in the financial market arising from insecurities, build up to 2015 elections and recapitalisation fever, among others. Financial analysts believed that some of these factors have continued to send a shock wave to both local and foreign investors and created uncertainty in the investment environment raising concerns in the investment community. Bears dominate equities market Trading activities commenced on the floor of the Nigerian Stock Exchange on Monday on a bearish note as sell pressure was sustained on the local bourse amid investor apathy. Specifically, the NSE All Share Index lost 0.98 per cent as did the market capitalisation. Likewise, the NSE Consumer Goods Index declined by 1.24 per cent as shares of Nestle declined 2.67 per cent while the NSE Oil/Gas Index shed 0.94 per cent partly due to a 2.49 per cent drop in shares of Forte Oil. Consequently, the All-Share Index dipped 393.1 basis points to close at 40,051.29 as against 40,444.39 recorded the previous Friday while the market capitalisation of equities depreciated by N130 billion as market sentiment remained red. Meanwhile, a turnover of 191.7 million shares worth N2.8 billion in 4,483 deals was recorded in the day’s trading. The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 107 million shares worth N1.2 billion exchanged by investors in 1,574 deals. Volume in the banking sub-sector was largely driven by activities in the shares of Access Bank Plc and Skye Bank Plc. Also, other financial services subsector, boosted by activity in the shares of FBNH Plc, followed with a turnover of 17 million shares valued at N205 million in 737 deals. Shares of hotelier, Ikeja Hotel, rose by 26 kobo (a 9.77 per cent increase), to close at N2.92 per share. Also, International Breweries gained 97 kobo to close at N31.47 per share. On the flip side, Seplat Petroleum, an indigenous oil exploration company, dipped by N31.97 (a five per cent drop) to close at N607.53, while consumer goods company, Nestle Nigeria, fell by N28.00

Trading floor

per share to close at N1022.00. Nigerian Stocks drop by N122 billion The Nigerian stock market, on Tuesday, suffered further depression following 0.93 per cent drop in both market performance indices reflecting profit taking, amid drop in investment activities. Transactions in the market ended with 39 losers against 14 gainers after the day’s trading. Heavyweights such as Seplat Petroleum, Nestle, Forte Oil, Nigeria Breweries and Lafarge Africa dipped to offset the gains of relatively cheap Ikeja Hotels, May & Baker, Courtville, Golden Breweries and Custodian & Allied Insurance. Consequently, the All-Share Index dropped 369.58 basis points or 0.93 per cent to close at 39,681.7 as against 40,051.29 recorded the previous day while the market capitalisation of equities depreciated by N122 billion or 0.93 per cent as market sentiment remained red. Meanwhile, a turnover of 387.4 million shares worth N4.7 billion in 5,100 deals was recorded in the day’s trading. Just as in the previous day , the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 227.3 million shares worth N2.3 billion exchanged by investors in 1,871 deals. Volume in the banking sub-sector was largely driven by activities in the shares of Fidelity Bank Plc and Access Bank Plc. Also, other financial services sub-sector, boosted by activity in the shares of FBNH Plc, followed with a turnover of 52.2 million shares valued at N358.6 million in 785 deals. Further setback The Nigerian stock market continued on southwards trajectory following a 1.02 per cent drop in both market performance indices as the bear dominated investment activities on Wednesday. Trading activities on the floor of the Exchange had, the previous day, also closed in the red following negative sentiments of investors which have pervaded the local burse in recent times. Consequently, the All-Share Index dipped 403.24 basis points or 1.02 per cent to close at 39,278.47 as against 39,681.71 recorded the previous day while the market capitalisation of equities depreciated by N133 billion or 1.02 per cent as market sentiment remained red. Meanwhile, a turnover of 420 million shares worth N4.6 billion in 5,497 deals was recorded in the day’s trading. Just as in the previous day , the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 151.5 million shares worth N1.7 billion exchanged by investors in

1,619 deals. Volume in the banking sub-sector was largely driven by activities in the shares of Zenith Bank Plc and Access Bank Plc. Also, other financial services sub-sector, boosted by activity in the shares of FBNH Plc, followed with a turnover of 103 million shares valued at N987 million in 1,193 deals. The number of gainers at the close of trading session was eight while losers closed at 41. On the other hand, Nestle Nigeria Plc led the price losers’ table, dropping N20.00 to close at N980 per share while Total Nigeria Plc followed with a loss of N3.34 to close at N172.16 and Nigerian Breweries Plc shed N3.00 per share to close at N171.00.

Five most capitalized stocks@ Oct 17, 2014 Dangote Cement Plc

N3.6trn

Nigerian N1.2trn Breweries Plc Guaranty Trust Bank Plc

N782.8bn

Nestle Nigeria Plc

N776.8bn

Zenith Bank Plc

N671.8bn

Negative sentiments ruled the stock market The bear, on Thursday, sustained its stronghold on the Nigerian Stock Exchange, as major blue-chip companies join the league of losers, causing market capitalisation and the All-Share Index to remain on the red zone. At the close of trading, the key benchmark indices maintained downward trend, taking hits majorly from high capitalised stocks led by Forte Oil Plc and Lafarge Wapco Plc. Specifically, at the ringing of closing bell, the NSE All-Share Index depreciated by 787.8 basis points or 2.04 per cent to return at 38,490.67 index points from 39,278.47 recorded the previous day while the market capitalisation of equities declined to N12.709 trillion from 12.969 trillion, representing a drop of N260 billion or 2.04 per cent as market sentiments remained negative. At the close of transactions, 10 stocks appreciated in price as against 41 that depreciated in value. On the gainers’ chart, brewer of soft drinks, Seven-Up, advanced by N15.13 to close at N162.00 while Honeywell Plc upped by 16 kobo to close at N3.85 per share. On the flip side, oil and gas company, Forte Oil Nigeria, declined by N10.90, to close at N207.10. Also, Lafarge Wapco Plc fell by N6.15 per share to close at N116.85 while Dangote Cement dipped by N4.94 to close at N217 per share. Market closed bearish The Nigerian stock market, on Friday, remained on the downward trend following a 0.76 per cent drop in both market performance indices as the bear dominated investment activities. Consequently, the All-Share Index dipped 292.94 basis points or 0.76 per cent to close at 38,197.73 as against 38,490.67 recorded the previous day while the market capitalisation of equities depreciated by N97 billion or 0.76 per cent as market sentiment remained red. Meanwhile, a turnover of 362.5 million shares worth N3.8 billion in 4,847 deals was recorded in the day’s trading. Just as in the previous day , the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 232.2 million shares worth N2.1 billion exchanged by investors in 1,447 deals.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Insurance

Mark, Okonjo-Iweala, others for NCRIB’s disaster management conference p.40

UK group picks Custodian as most innovative insurance company p.40

Insurance sector critical to Nigeria’s transformation, says Oteh

MD/CEO, GNI Plc, Mrs. Cecilia Osipitan

PENETRATION

The underwriting market has enormous potential to turn the nation’s economy around if adequately harnessed Abdulwahab Isa Abuja

he Director-General, Securities and Exchange Commission (SEC), Arunma Oteh, has commended the strides recorded in the insurance sector describing it as a strong force that has helped in driving the growth recorded in the capital market. She said the industry was key to the transformation of the Nigerian economy and the capital market. She made the observation during a television programme “Eye on Nigeria’s Capital Market” on CBNC Africa monitored in Abuja. Oteh said the insurance sector had often been instrumental to the growth of several economies in the world. “With a market of 170 million people, the market has enormous potential especially as reforms take hold with respect to group life insurance and other pension related products. I think the focus on micro insurance is exciting because one of the challenges of our country is that not as many of the 170 million people participate in the economy and I believe that helping us to understand micro insurance better is important. What we want is for Nigerians to be able to participate in the economy and I believe that micro insurance is absolutely essential

Daniel

Chairman, NIA, GUS Wiggle

Oteh

in that regard. If we do not focus on micro-insurance, we will not transform our society,” she said. The SEC boss further said, “We believe that as SEC, the apex regulator of the Nigerian capital market, the transformation in the insurance sector is critical for the transformation of Nigeria. I don’t think that despite the fact that we have had the insurance industry existing for several years that people realise the importance of insurance to our lives, whether it is agriculture, whether it is housing, among others. The housing sector in America was strengthened because of monoline insurance, because of credit enhancement that insurance provides.” According to her, insurance has become critical for better living conditions including health insurance, which permeates society. The DG said the insurance industry provided domestic instruments that are investor based and could assist Nigerians participate in the capital market. “The industry is replete with opportunities for the investing public. Present reforms in the power sector, the oil and gas sector as well as housing sector are clearly an opportunity for products to support these sectors,” she said. She expressed delight with technological innovations, which she said had assisted people to be able to reach insurance companies and purchase products that are relevant to them. Oteh also commended the Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM), Mr. Fola Daniel, for the transformation in the industry. She said NAICOM’s compulsory insurance policy meant that premium would rise and become investible assets in the capital market. “Those investible assets will enable

us as the capital market to also contribute to transforming the economy. What we expect is that the results of these reforms that we are seeing will lead to us having insurance entities become very well recognised institutional investors. Some of the large institutional investors around the world are insurance companies and we are not seeing that yet in Nigeria, but it is going to happen,” she added. The commissioner for insurance had disclosed at a forum early in the year that Nigerian insurance industry was growing on the average 40 per cent from less than three per cent in the last three years. He said the industry had the capacity to grow between 200 and 400 per cent if compulsory insurance and the ‘no premium no cover’ policy among other reforms were strictly adhered to. The Market Development and Re-

structuring Initiative (MDRI) has also been initiated to help enforce compulsory insurances and eradicate fake insurances in the country. The commissioner attributed the positive developments in the industry to a series of new reforms embarked upon by NAICOM. Chief among the reforms are the introduction of risk-based supervision, migration to International Financial Reporting Standard (IFRS) from the Nigerian Generally Accepted Accounting Principles (NGAAP), and market conduct reforms. Others include claims settlement reforms, and financial inclusion amongst others, all geared towards developing the industry and improving the general perception about insurance. The reforms are in line with the Federal Government’s vision 2020:20 of deepening insurance penetration to become the insurance industry of choice among the emerging markets in terms of capacity, safety, transparency and efficiency. According to Daniel, “Nigeria is much likely to attain a sustained economic growth and development if it can adapt its insurance industry with innovative ways that will bring on board the generality of the country’s population. “The Nigerian insurance sector has great potentials for massive growth. You will agree with me that the population size of the country, if adequately harnessed, gives an added advantage to the insurance industry to further develop its market. “This is what we intend to achieve with the various initiatives incepted by the Commission in recent times. We will definitely appreciate the unflinching support and cooperation of all of you in this drive.”

Present reforms in the power sector, the oil and gas sector as well as housing sector are clearly an opportunity for products to support these sectors

Business | Insurance

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Mark, Okonjo-Iweala, others for NCRIB’s disaster management conference CRISES Losses encountered in the event of disasters, be it natural or manmade, can better be curtailed with proper insurance management Sunday Ojeme

he Nigerian Council of Registered Insurance Brokers is stepping up its 2014 National Insurance Conference holding this week with the invitation of top government officials among others to deliberate on the role of insurance in disaster management. Top on the list are the Senate President, David Mark, Minister of Finance, Mrs NgoziOkonjo-Iweala, , Honourable Minister of Health, Professor Onyebuchi Chukwu, Commandant General,Nigerian Security and Civil Defence Corps (NSCDC), Dr Ade Abolurin, and the Commissioner for Insurance,

L- R: Executive Director, Ivory Banking, Heritage Bank, Mrs. Mary Akpobome; Heritage Bank’s Financial Literacy Ambassador, Zuriel Oduwole; Executive Director, Manila Banking, Heritage Bank, Niyi Adeseun and Group Head, Customer Experience and Analytics, Heritage Bank, Ralph Omoregie, at the launch of Heritage Bank’s SkoolBank product in Lagos. PHOTO: SULEIMAN HUSAINI

Mr Fola Daniel, among others. A statement by the Chairman, Events Organising Committee of the Conference, Mr Sola Tinubu, said the Conference, which is expected to draw participation from disaster and insurance management institutions in

Nigeria and abroad was to further impress the role of insurance industry in disaster management in the country. The statement noted that the insurance industry, which has the professional obligations of risk mitigation, had often been sidelined

in disaster management in Nigeria against practices in other parts of the globe. It added that the Conference could not have been more timely than now considering the chain of combustible events happening all over the world leading to unprecedented losses of hu-

UK group picks Custodian as most innovative insurance company

ustodian and Allied Insurance Limited, (CAIL) has emerged winner of CFI.co award for ‘Most Innovative Insurance Company, Nigeria 2014’. This enviable honour was given by UK-based Capital Finance International’s (CFI) multinational panel of judges comprising renowned experts and scholars drawn from diverse backgrounds after a painstaking assessment of the Insurance and other financial services industry in the country. According to CFI.co, “The award programmes identify individuals and organizations that truly add value. We want to demonstrate through these programmes the many ways in which the economies of the world are converging: best practice can be found everywhere around the globe and we can all learn from each other. We are very interested in including those smaller companies that might otherwise go unnoticed

on the international stage but still contribute to global progress.” Commenting on the award, CFI noted that Custodian provided good evidence for this important characteristic with the recent launch of a mobile application -Custodian Direct- that guides the customer through the complexities of the complete insurance cycle in addition to an online insurance platform it introduced earlier. According to the group, “Innovation in risk management is evidence too and the insurer has a good response time record in respect of claims payment. There is an attitude at Custodian of seeking out innovation to drive the best possible methods of service delivery. The Judging panel was also impressed with this company’s highly innovative approach and intelligent actions to encourage stability and described Custodian as

a most thoughtful corporate citizen.” In arriving at award decisions, CFI’s Judging Panel reviews information generated during the nomination process and draws on their members’ expertise to identify candidates for award consideration. It then brings into focus the critical eye of a combined 170 years

of business leadership and experience in financial journalism to make informed decisions. While it recognises larger and indeed global players, CFI is no less keen to applaud firms operating in niche areas; drawing its initial nominations from readers, subscribers, contributors and visitors to its website.

Service of songs for Olowude

he Nigerian insurance community will today join family members of the late founder of Industrial & General Insurance (IGI), Chief Remi Olowude, in a service of songs being organised for the insurance icon, who died about three weeks ago in the United States after a protracted battle with cancer. In an email message on Friday, the Nigeria n Insurers Association, through its spokesperson, Davis Iyasere, called on everyone to attend the service of songs for the

Olowude

late past chairman of the Association on Monday, October 20, 2014 at 4pm. Venue is the Function Room, Muson Centre, Onikan, Lagos.

man and material assets It was opined that the Nigerian government would have seen the need to involve insurance practitioners in formulating policies and establishment of institutions to manage disasters and mitigate losses caused to victims The Conference, which would also feature the sub theme: “Insurance Regulation: The Global Perspective,” would provide a robust platform for discussing current trends with regards to insurance regulation in Nigeria. Also, the conference will provide a platform for the NCRIB team led by the council’s President, Mr Ayodapo Shoderu, to generate robust discourse on issue that has continued to affect operation insurance professionals in Nigeria. Shoderu stressed that the intention of the choice theme was to allow for ventilation of views and opinions by eminent resourceful professionals and stakeholders drawn from all sectors of the nation’s economy and particularly disaster management institutions.

Six underwriters partner Venia Group on e-insurance

ix insurance firms have joined forces with an Information Technology outfit – Venia Group to deplore the sales of motor insurance online. The underwriting firms involved in this transformation mission are: Sovereign Trust Insurance Plc; AIICO Plc; Royal Exchange Plc; Leadway Assurance Limited; NEM Insurance Plc and Custodian and Allied. The Chief Executive Officer (CEO) Venia Group, Kola Oyeneyin, said the new trend, tagged, AutoGenius, would transform insurance business by changing the way people buy insurance. He said the system, which will help curb the menace of fake motor certificates, would be activated by noon on Monday October 20, adding that with the system the public could procure their motor insurance online within five minute. He noted that the first

1000 subscribers to the insurance products – Oga at the Top; Eminado and Swag -would qualify for a lottery that will enable them win a brand new car He said the firm, through the initiative, would be selling convenience; quality and good price. He noted that the initiative would also help generate accurate data for the National Insurance Commission He further affirmed that the products purchased from the platform were immediately uploaded to the Nigerian Insurance Industry Database (NIID). The Commissioner for Insurance, Fola Daniel, lauded the initiative, stressing that the commission will continue to support every noble steps aimed at deepening insurance penetration. Daniel was represented by the Deputy Director, Inspectorate, National Insurance Commission (NAICOM), Emmanuel Farinu.

Business | Financial Market News

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

FMDQ Daily Quotations List

17-Oct-14

The FMDQ Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject to the FMDQ OTC PLC Terms of Use and Disclaimer Statement on www.fmdqotc.com.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030 12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

535.00 545.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 331.35 75.00 150.00 200.00 591.57 105.00

TOTAL OUTSTANDING VALUE

4,591.19

TOTAL MARKET CAPITALISATION

4,511.97

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

0.52 1.83 2.53 2.78 2.87 3.62 4.70 5.02 7.28 9.41 14.12 14.60 15.09 15.77 19.75

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

11.75 12.71 12.86 12.91 12.91 12.90 12.85 12.88 12.82 12.84 13.02 13.04 13.06 12.95 12.89

11.43 12.61 12.79 12.84 12.84 12.79 12.77 12.78 12.76 12.78 12.98 12.99 13.00 12.89 12.84

96.22 100.50 104.70 93.00 91.65 93.77 110.80 78.76 116.50 107.30 112.60 96.41 70.22 80.35 94.70

96.37 100.65 104.85 93.15 91.80 94.07 111.10 79.06 116.80 107.60 112.90 96.71 70.52 80.65 95.00

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

978.35 24.56 3.00 112.22 116.70 66.49

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.04 0.60 1.34 2.15 2.51 2.72

1.00 2.63 2.27 2.00 1.00 1.00

12.33 14.41 14.53 14.84 13.92 13.91

99.53 91.95 103.28 99.86 97.48 94.75

96.98

Agency Bonds AMCON FMBN

***LCRM

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

1,301.32

TOTAL MARKET CAPITALISATION

1,288.29

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.87

4.44

16.31

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.71

3.23

15.04

14.00

6.27

30-Jun-16

1.00

4.46

16.37

98.19

30-Jun-16

1.00

3.48

15.39

100.64

98.93

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.51

5.59

18.51

83.53

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.55

1.00

13.46

100.71

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.21

1.79

14.70

98.21

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.38

1.80

14.69

98.77

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.96

1.00

13.89

100.30

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.38

1.00

13.89

101.40

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.38

4.78

17.67

93.27

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.76

1.00

13.91

101.33

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

3.01

1.00

13.91

103.74

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.10

1.00

13.88

102.19

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

2.98

2.74

15.65

98.00

A/Agusto

*OSUN

14.75 OSUN II 30-SEP-2020

30-Sep-13

14.75

11.40

30-Sep-20

3.51

1.00

13.90

102.25

Aa-/Agusto; AA-/GCR

LAGOS

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.00

27-Nov-20

6.11

1.00

13.85

98.53

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

6.21

1.94

14.79

100.76

A/Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.78

31-Dec-20

3.69

1.44

14.34

100.59

06-Jan-14

15.00

4.79

06-Jan-21

3.72

1.95

14.85

100.57

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

471.18 461.49

Corporate Bonds Aa/Agusto Nil

GTB NGC

13.50 GUARANTY TRUST 18-DEC-2014

18-Dec-09

13.50

13.17

18-Dec-14

0.17

5.21

16.63

99.36

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

2.00

31-Dec-14

0.21

8.71

20.15

99.18 96.79

Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

3.61

17-Aug-15

0.59

4.88

16.65

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

13.62

09-Dec-15

0.66

1.00

12.80

99.93

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.60

06-Jan-16

0.74

2.63

14.46

100.34

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.95

1.00

13.77

98.71

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

2.02

1.34

14.15

100.16

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.95

1.00

13.91

97.83

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.73

30-Nov-17

1.77

1.88

14.51

106.58

BBB+/DataPro†; BB+/GCR

*C & I LEASING *DANA#

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.98

3.48

16.27

99.63

A-/DataPro†; BB-/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

2.15

5.20

18.04

100.18

101.78

AAA/DataPro†; A+/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

2.15

5.06

17.90

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.93

1.35

14.24

99.26

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.70

18-Oct-18

2.00

2.29

15.10

101.17

BBB-/DataPro†; BB+/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

17.00

0.41

17-Feb-19

2.33

6.11

18.99

96.75

BBB/GCR

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

3.21

2.16

15.07

102.30

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

6.08

2.76

15.62

98.56

A/GCR

STANBIC IBTC

182D T.bills+1.20 STANBIC IA 30-SEP-2024

30-Sep-14

N/A

0.10

30-Sep-24

9.95

1.00

13.87

85.80

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.95

1.00

13.87

96.69

11-Feb-18

3.32

1.00

13.90

90.37

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

144.46

TOTAL MARKET CAPITALISATION

142.97

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE

12.00 10.84

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.43

5.24

106.95

107.99

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.48

4.21

102.19

103.11

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.70

5.56

104.57

105.54

FGN Eurobonds

Prices & Yields

BB-/Fitch; B+/S&P BB-/Fitch; BB-/S&P

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,568.54

Corporate Eurobonds B/Fitch; B-/S&P

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

8.68

103.30

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.16

105.04

105.04 101.72

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.55

101.72

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.89

8.31

93.98

95.66

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

5.99

5.73

100.04

100.96

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

9.68

102.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.31

96.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

9.12

8.76

98.62

99.95

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.67

101.63

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

7.50

95.75

9.25/6M USD LIBOR+7.677 JUN 24, 2021

24-Jun-14

9.25

400.00

24-Jun-21

8.63

8.48

103.13

103.88

B-/Fitch; B/S&P

AFREN PLC III

B-/Fitch; B/S&P

ACCESS BANK PLC II

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

7.47

101.63

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.43

8.22

100.52

101.58

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

4,782.08

**Treasury Bills DTM 13 20 27 34 41 48 55 69

Money Market

FIXINGS Maturity 30-Oct-14 6-Nov-14 13-Nov-14 20-Nov-14 27-Nov-14 4-Dec-14 11-Dec-14 25-Dec-14

Bid Discount (%) 10.60 11.00 11.00 10.80 11.00 10.80 10.90 11.15

Offer Discount (%) 10.35 10.75 10.75 10.55 10.75 10.55 10.65 10.90

Bid Yield (%) 10.64 11.07 11.09 10.91 11.14 10.96 11.08 11.39

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.8167 12.9367 13.5911 14.4094

Tenor

Rate (%)

OBB

10.42

O/N

10.54

Tenor Call 1M

REPO

Rate (%) 10.42 11.98

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

165.25 165.20 165.47 166.20 167.42 168.77

165.35 165.42 165.82 166.82 168.60 170.47

Business | Interview

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Cabotage: Government policy allows Nigerians front for foreigners, says NISA boss Ship owners from Greece, Italy and Lebanon are exploiting the Cabotage bare-boat registration in the Nigerian Coastal and Inland Shipping Act to milk the nation. Chairman, Nigerian Shipowners Association (NISA), Chief Isaac Jolapamo, explains the difficulties faced by local ship owners to BAYO AKOMOLAFE.

How would you assess the nation’s shipping industry? I can say that we have finally entered the stage or phase of frustration. Looking back with my years of experience, I think we have gotten to a stage of frustration. When you look critically at where we are coming from and where we are, some people might say we have recorded some minor successes, but the minor successes have not translated into anything that one can write home about. Let us first take an overview of what happened last year. The success that we can say we actually recorded last year was largely as a result of the noise we made. May be government was forced to act and so, finally called for a retreat to really examine whether what we have been saying was true. That is, whether government is indeed loosing so much trillions of naira annually in terms of freight loses in local operations, in national and international trading and whether such could have been used to create employment opportunities. You will discover that after that retreat, the president was so touched to the extent that he wanted a report. He set up a committee and gave it two weeks, thus showing a positive sign. But of course, when you look at what we have done in over one decade, you will agree that we have a group of people who own ships and have acquired the relevant experience and skills and who should come together so as to handle a national carrier. There were so many hullabaloos at the beginning of last year and there were hopes that they were going to grant Nigerian Shipowners Association (NISA) and some other groups the national carrier status. But for political reasons or considerations or interest, it has again not worked! Even during the Dr. Ade Dosumu’s time at the Nigerian Maritime Administration and Safety Agency (NIMASA) when they said our ships were rust buckets, we proposed that they should give us money as bail-out funds (loans) to repair our ships. And we also proposed that beneficiaries of such loans should be allowed to pay in two or three years’ time, with interest to government. Has Nigeria taken advantage of its untapped maritime potential? Nigeria has failed to take advantage of its vast untapped maritime potentials. The maritime sector is capable of providing employment for over five million Nigerians directly or indirectly. We have identified participation in the carriage of Nigerian crude oil and gas, general cargoes of about 150 million tons per annum and the domestic cabotage trade as very important for our socioeconomic development to make the transformation

Jolapamo

Over 15 Nigerian ship owners have sold their vessels because of the harsh operating environment. Only foreigners are benefiting from cabotage which was designed to offer succour for indigenous ship owners.

agenda of Jonathan’s administration realisable. Other developed and developing nations have used their maritime industry to develop their economies. The United Kingdom, India, South Korea, Malaysia, Indonesia, the United States and Canada are some of the developed countries that have exploited their maritime capability to the fullest. Why are Nigerian ship owners complaining over Cabotage regime? Nigerians were faring better in the past than now that the Cabotage is in place. Nigerians were faring better in the 80s. I can cite the time of the likes of Chief Adewolu Ladoja. He came into shipping in the 80s. He made a mark. Today, he is useful to the society. Abuli came into shipping in the 80s, they started a bank called the Crystal Bank. That was where the seasoned banker, Tony Elumelu of the United Bank for Africa (UBA), started from.

If we had allowed shipping to work in Nigeria and if the trend that started in the 80s was allowed to continue, Nigerians by now would have arrived at a destination. But look at the situation now, how many people are left in the indigenous shipping today, especially those that started in the 80s and of these, how many of them can still say they have ships today? Today, my company is indebted to banks to the tune of N40 million for ship acquisition and since the beginning of the implementation of the Cabotage Act, my vessels have been reduced from six to one, which was damaged by high-jackers. This is the 11th year that Cabotage started and instead of increasing, we are reducing in size. I had six vessels 10 years ago, but now have only one, and I am indebted. NISA started with me, Capt Iheanacho and Capt Labinjo, I know that Capt Labinjo has no working ship today and Captain Ihenacho’s vessel has deplet-

Business | Interview

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

BIODATA Schools:

Royal Navy Marine Engineering College, GOSPORT, HANTS, England, Certificates: Naval Marine Engineering Qualifying Certificate Parts 2 and 3, Higher National Diploma (HND equaivalent), as well as Full Technological Certificate of the City and Guilds, London, Institute of Mechanical Engineering (Plant Maintenance Option) in 1974. Work experience: Chairman/ Chief Executive, Morlap Shipping Company and Chairman, Nigerian Ship owners’ Association Previous jobs: Chief Engineer on the NN Seaward Defense Boat (SDB) and later the Covet class of vessels Expertise: Marine Engineering

ed. What I’m saying is that many shipping companies have closed shops due to the unfavourable shipping environment in Nigeria and that many of the seafarers are now disgruntled due to lack of jobs. No indigenous vessel is qualified to load petroleum products for the Nigerian National Petroleum Corporation (NNPC). Cabotage trade is not a lucrative business in Nigeria. Cargo trade is nothing in the West African coast. Over 15 Nigerian ship owners have sold their vessels because of the harsh operating environment. Only foreigners are benefiting from cabotage which was designed to offer succour for indigenous ship owners. There is no provision in the international shipping law for 15 years age limit of vessels. The enforcement of the 15-year-age limit specified in the cabotage act was a disincentive to Nigerian ship operators to fully participate in the coastal trade. Do you think that government is really serious with domestic shipping? Up till today, they are still playing politics with local ship owners. Come to think of it, there was a time a committee was set up between NISA and NIMASA. But the recommendations of that committee were not followed by the agency that supposed to implement them. So, what do you want the stakeholders to do? Yet, everybody wants to claim that he is working and he is achieving something. Now, we have a fund devoted for that cause. But the money has been in the bank, for how long now? Who is taking the interest on it? How much is the commission and who is earning it? Even during Dr. Dosunmu’s time, I had emphasised the need to gather even if just five persons, to flag off this gesture. Whatever is there, let it start revolving. At least, people will know that the country is doing something. We have talked about training and we agreed that the people who are there presently are half-baked and they should be trained because without the ships, I mean, if the ships are not there, every other Nigerian shipping-related industry would only pretend to be functional. We took this position because we know that the country would not go anywhere if we don’t develop the ship acquisition and management visions. The Americans are ready to help us, especially in the area of starting a local training and retraining. They can help in training our existing talents. We can then begin to fine tune and expand. But what did we see? They recruited over a thousand cadets for overseas training when those you already trained cannot find any jobs.

Jolapamo

As at today, instead of calling the shot in the industry, we have become like spectators

The problem is that the country has failed to understand that shipping cannot be developed on political platforms. It never works! If the Nigerian National Shipping Line (NNSL) was not there, people who got trainings in those days would be doing nothing because there would be nothing to keep them down. You would only train them so as to send-them to go and serve other nations. As at today, instead of calling the shot in the industry, we have become like spectators! We can be best described as spectators! Unfortunately, it is when they leave the government employment that they begin to understand how best the solutions may be applied to the problems. It is not that we are rubbishing all other areas of maritime. But our own area is the core area that government must develop. And until they do that, all other areas may not effectively stand. Who should we blame for the woes in the maritime sector? Every appointment in NIMASA is being done by government. So, it is government that is not sincere. It is pure and simple. But, it is like they also want us to take some lectures now. So, my question is: ‘If I start taking lecture now, when do I start to use it?’ I started taking lecture on maritime issues at the age of 19. Now, people want me to still take lectures and I ask ‘when do I use it?’ Some of those things I learnt at the age of 19, I have not effectively finish using them. Is Nigerian shipping sector collapsing? From what I have said, you can see it is dying. The number of foreigners participating in our domestic shipping is soaring by the day and the participation of Nigerians is dwindling. Of course, those who should implement the Cabotage may say it is not so. But everyone knows this is the truth. Have you scrutinised the issue of Cabotage bare-boat registration or why we resisted it? It is now in place and what has it achieved? Government has succeeded in cre-

ating opportunities to have Nigerians who can front for the Greeks, Italians, Lebanese and Indians, among others, but the real owners of the ships are still the foreigners. And that is what the Cabotage bare boat has given us! Is it that government is not listening to stakeholders? They are listening. What I said is that they are not doing anything. The Minister of Finance and Coordinating Chairman even recounted what the country was losing because things are not in order. But if they did not believe this, why won’t they allow us to make some presentation on that? Our presentation will be based on fact and figures of amounts paid by the Central Bank of Nigeria (CBN) in terms of what the CBN paid out as freights on cargoes from one year to another and we would be able to prove the fact that if we had been able to earn just a quarter of it, this is the much we would have been able to contribute to the national economy in the area of national development and employment. But they also know all these, but the problem may be in the fact of personal interest of groups within the government. This is what is adversely affecting implementation. Bamangar Tukur used to say that shipping is a sector with hydra-headed problems. And in my translation, I have come to understand that the moment you cut off one head, three others will spring up from that very point. So, in the process of solving one problem, you may often create three others there.

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.87

4.44

16.31

96.98

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.71

3.23

15.04

98.93

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

1.00

4.46

16.37

98.19

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

1.00

3.48

15.39

100.64

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.51

5.59

18.51

83.53

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.55

1.00

13.46

100.71

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.21

1.79

14.70

98.21

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.38

1.80

14.69

98.77

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.38

1.00

13.89

101.40

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.38

4.78

17.67

93.27

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.76

1.00

13.91

101.33

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

3.01

1.00

13.91

103.74

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.10

1.00

13.88

102.19

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

2.98

2.74

15.65

98.00

14.75 OSUN II 30-SEP-2020

30-Sep-13

14.75

11.40

30-Sep-20

3.51

1.00

13.90

102.25

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.00

27-Nov-20

6.11

1.00

13.85

98.53

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

6.21

1.94

14.79

100.76

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.78

31-Dec-20

3.69

1.44

14.34

100.59

06-Jan-14

15.00

4.79

06-Jan-21

3.72

1.95

14.85

100.57

Business | Financial Market News

INTEGRITY

NSE, CBI to inaugurate Corporate Governance Rating System

A/Agusto; A-/GCR to encourage *OSUN NSE moves A/Agusto *OSUN competitiveness on best Aa-/Agusto; AA-/GCR LAGOS A-/Agusto; BBB+/DataPro KOGI practice A/Agusto *EKITI A-/GCR

*NASARAWA

TOTAL OUTSTANDING VALUE Stories by Chris Ugwu TOTAL MARKET CAPITALISATION

Corporate heBonds Nigerian

Stock Exchange µGTB (NSE) in Nil partnershipNGC with the Bbb-/Agusto *UPDC Convention for BusiA-/Agusto *FLOURMILLS ness Integrity (CBI)*CHELLARAMS will soon BB+/GCR A+/Agusto; A-/GCR launch the foremostNAHCO Corporate A-/Agusto FSDHSystem Governance Rating A/GCR (CGRS) in Nigeria. UBA BBB-/GCR *C & I LEASING The launch which is slated BBB+/DataPro†; BB+/GCR *DANA# for Monday , November 3, 2014, A-/DataPro†; BB-/GCR *TOWER# inAAA/DataPro†; Lagos, will by A+/GCRbe attended *TOWER# corporate sector participants, A/Agusto; A/GCR UBA Bbb+/Agusto; BBB+/GCR *LA CASERA government and civil society # BBB-/DataPro†;from BB+/GCR *CHELLARAMS delegates, across Nigeria BBB/GCR *DANA and globally. A+/Agusto; A-/GCR NAHCO Management ofSTANBIC theIBTC ExA/GCR change said in a statement A/GCR STANBIC IBTC that some of theVALUE speakers TOTAL OUTSTANDING scheduled for the event themed TOTAL MARKET CAPITALISATION “Better for Business” are Mr Supranational Bond Andrea Grimminger of PGS AAA/S&P International; IFC Advisers Mr MiAa/Agusto

TOTAL OUTSTANDING VALUE

471.18 Executive Officer 461.49

chael Lakota, Managing Director/CEO of Siemens Nigeria Ltd. and Mr Jermyn Brooks, 13.50 GUARANTY TRUST 18-DEC-2014 Director, Transparency Inter17.00 NGC 31-DEC-2014 national. 10.00 UPDC 17-AUG-2015 The12.00 discussions will provide FLOURMILLS 9-DEC-2015 unique insights into issues of 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 leadership and corporate gov14.25 FSDH 25-OCT-2016 ernance within the African 13.00 UBA 30-SEP-2017 context. 18.00 C&I LEASING 30-NOV-2017 “The event will also present MPR+7.00 DANA 9-APR-2018 details on CGRS framework MPR+7.00 TOWER 9-SEP-2018 whichMPR+5.25 is designed to evaluate TOWER 9-SEP-2018 companies on the qual14.00 UBA based II 22-SEP-2018 LA CASERA 18-OCT-2018 ity of 15.75 their corporate integrity; MPR+5.00 CHELLARAMS II 17-FEB-2019 corporate compliance; under16.00 DANA II 1-APR-2019 standing of fiduciary respon15.25 NAHCO II 14-NOV-2020 sibilities by their directors and 182D T.bills+1.20 STANBIC IA 30-SEP-2024 their corporate reputation. The 13.25 STANBIC IB 30-SEP-2024 CGRS will mark the beginning of a new era in market transparency and it is a new model for 21st century corporate re10.20 IFC 11-FEB-2018 porting,” the statement noted.

18-Dec-09 01-Apr-10 17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 30-Sep-14 30-Sep-14

11-Feb-13

Chief of The Nigerian Stock Exchange (NSE), Mr Oscar Onyema, had 13.50 13.17 explained at the World Invest-18-Dec-14 17.00 2.00 31-Dec-14 ment10.00 Forum (WIF)3.61organised17-Aug-15 by the12.00 United Nations 13.62 Confer-09-Dec-15 ence 14.00 on Trade and 0.60 Develop-06-Jan-16 15.00 the NSE29-Sep-16 ment13.00 (UNCTAD), that 14.25 governance rating5.53system is25-Oct-16 20.00 30-Sep-17 being13.00 set up in partnership 18.00 0.73 with 16.00 the Nigerian 6.30 Convention30-Nov-17 09-Apr-18 on Business Integrity with as-09-Sep-18 18.00 2.90 sistance and guidance from 16.00 0.80 09-Sep-18 Humboldt-Viadrina School of22-Sep-18 14.00 35.00 15.75 2.70 18-Oct-18 Governance in Berlin. 17.00 “For us, it is very0.41important17-Feb-19 16.00 4.50 that the NSE not only has cred-01-Apr-19 15.25 2.05 14-Nov-20 ibilityN/Ain Nigeria,0.10 but across30-Sep-24 the world. This is why we have 13.25 15.44 30-Sep-24 asked international entities to 144.46 rate and review our progress 142.97 and to provide external assurances that when the NSE rates 10.20 12.00 a company , 70 out of a possible11-Feb-18

Description

Issue Date

Coupon (%)

8.75 AUG 14, 2021

ECOBANK NIG. LTD

14-Aug-14

Outstanding Value ($mm)

Maturity Date

250.00

14-Aug-21

hemical and Allied ing an increase of 16 per cent N909 million posted in the HI 6.75 JAN 28, 2021 Products (CAP) Plc from N2.883 billion in the cor- of 2013. Profit after tax rose 07-Oct-11 6.75 by recorded a 19 per cent responding period of 2013. 20 per cent to N744.874 million, BB-/Fitch; FGN 12, 2018 5.13 BB-/S&P in net earnings durgrowth Profit before 5.13 taxJULstood at from N61812-Jul-13 million in 2013. BB-/Fitch; ing the third quarter ended N1.09 billion in 2014, Addressing 6.38 JUL indicat12, 2023 12-Jul-13 shareholders 6.38 BB-/S&P Septmber 31, 2014. ing an increase of 20 per cent. at the company’s Annual TOTAL OUTSTANDING VALUE The company, in a filing A further analysis of the un- General Meeting (AGM) in TOTAL MARKET CAPITALISATION with the Nigerian Stock Ex- audited results showed that Lagos, Chairman of CAP Plc, change, posted a profit after CAP Plc’s cost of sales went Mr Larry Ettah, said that deCorporate Eurobonds tax of N1.128 billion during up by 10 per cent11.50 from N1.481 spite the 01-Feb-11 challenging operatFEB 01, 2016 B/Fitch; B-/S&P AFREN PLC I 11.50 billion to N1.633billion, while the third quarter as against ing environment in 2013, the 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 7.50 N946.2 million in the corredistribution/administrative company ended the year with 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC 25-Jul-12 7.25 rose by an impressive performance. sponding period of FIDELITY 2013. BANK PLC and other expenses 6.88 MAY 09, 2018 B/Fitch; B/S&P 09-May-13 6.88 He noted that the company Its revenue grew by 15 per 25 per cent from N584 million 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 6.00 to N728 million. 10.25 APR 08, 2019 cent to N5.054 billion inPLC 2014 recorded08-Apr-12 a turnover of10.25 N6.2 B/Fitch AFREN II Financial charges also wit- billion, a growth from N4.412 in 2013. cent 6.25 APR 22, 2019 B+/Fitch; BB-/S&Pbillion ZENITH BANK PLC 22-Apr-14 of 18 per 6.25 8.75 May 2019 B/Fitch; DIAMOND BANK 8.75 a CAPB/S&P Plc had recorded anPLC nessed an increase of21,18 per over the 21-May-14 previous year and AUG million 07, 2020 B-/Fitch; B/S&Pprofit for FIRST PLC 07-Aug-13 8.25bilimproved theBANK half cent, rising from8.25 N69 profit before tax of N2.1 DEC 09, 2020 B-/Fitch; B/S&P June 30,AFREN III 09-Dec-13 6.63 inyear ended 2014.PLCThe to N82 million. 6.63 Consequentlion, which represents an 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&Pposted revenue ACCESS BANK 9.25the 26 per cent over company ofPLC II ly, profit before tax stood at crease of 24-Jun-14 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD 8.00 year. N3.349 billion in 2014, show- N1.095 billion compared with previous 23-Jul-14 BB-/Fitch; B+/S&P

TOTAL OUTSTANDING VALUE

8.75

0.66 0.74 1.95 2.02 2.95 1.77 1.98 2.15 2.15 3.93 2.00 2.33 3.21 6.08 9.95 9.95

3.32

Bid Yield (%)

8.43

Offer Yield (%)

Bid Price

Offer Price

According to him, the ISO Prices & Yields 22301:2012 specifies requirements establish,107.99 imple5.24to plan,106.95 ment, operate, monitor, review, 4.21 103.11 maintain and102.19 continually improve manage5.56a documented 104.57 105.54 ment system to prepare for, respond to and recover from disruptive events when they arise. He said: “The ISO103.30 22301 8.68 103.30 standardisation certification 4.16 105.04 105.04 will 6.55 help improve the 101.72 bank’s 101.72 business by ensuring planned, 8.31 93.98 95.66 effective Business Continu5.73 100.04 100.96 ity Management levels, 9.68 102.00 at all 102.00 including: Organisation-wide 7.31 96.00 96.00 8.76 98.62 99.95 identification and understand7.67critical 101.63 101.63 ing of business process7.50the impact 95.75 of disruption, 95.75 es and 8.48 and orderly 103.13 responses 103.88 to timely 7.47 101.63 101.63 incidents/business disruptions.

4,760.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

0.59

ccess Bank Plc has been awarded the International Organisation for 500.00 28-Jan-21 5.43 Standardisation, ISO, 22301:2012 500.00 12-Jul-18 4.48 certificate for ‘Societal Security - Business Continuity 500.00 12-Jul-23 Manage5.70 ment Systems.’ 1,500.00 The award was presented to the1,568.54 bank by the British Standard Institute (BSI), after about three months of01-Feb-16 rigorous busi450.00 8.68 ness500.00 impact analysis across all 19-May-16 4.16 the 350.00 departments25-Jul-17 of the bank.6.55 Speaking during the pre300.00 02-May-18 8.89 sentation of the certificate 5.99 in 400.00 08-Nov-18 Lagos, Manag300.00 Group Deputy 08-Apr-19 9.68 ing 500.00 Director of22-Apr-19 Access Bank, 7.31 21-May-19 said that 9.12 Mr 200.00 Obinna Nwosu, 300.00 07-Aug-20 7.67 ‎the certification is based on 360.00 09-Dec-20 7.50 international best practices de400.00by the bank 24-Jun-21 8.63 ployed to manage 450.00 23-Jul-21 7.47 business continuity .

FGN Eurobonds

B-/S&P

0.17 0.21

Access Bank gets ISO 22301 certification

CAP reports 19% growth in net earnings Issuer

100 for corporate governance, this truly tells the whole story.” He said that the NSE is also 5.21 16.63 working on the launch of99.36 a gov8.71 20.15 99.18 ernance index and the creation 4.88 16.65 96.79 of a1.00 premium12.80 board which 99.93is to become the realm of companies 2.63 14.46 100.34 13.77 exceptionally 98.71 that1.00have scored 14.15 100.16 well1.34on the governance rating 1.00 13.91 system and also meet or 97.83 exceed 1.88 14.51 106.58 other stringent listing criteria. 3.48 16.27 99.63 Onyema added that the pre5.20 18.04 100.18 mium board will be exclusive 5.06 17.90 101.78 to companies with capi1.35 14.24 a market 99.26 2.29 15.10 101.17 talisation of at least $1 billion. 6.11 revealed 18.99that pilot 96.75proHe 2.16 102.30 grammes have15.07 shown that com2.76 15.62 98.56 panies which wholeheartedly 1.00 13.87 85.80 embrace corporate governance 1.00 13.87 96.69 best practices and feature on the NSE premium board may expect to outperform the overall market by as much as 300 13.90 90.37 per1.00 cent.

12.00 10.84

TOTAL MARKET CAPITALISATION Rating/Agency

MONDAY, OCTOBER NEW TELEGRAPH 3.96 1.00 20, 2014 13.89 100.30

8.22

100.52

101.58

17-Oct-14 CEO, ETI, Thierry Tanoh

4,782.08

The FMDQBills Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixedFIXINGS income securities and instruments the OTC market. The use of this report is subject to Money in Market **Treasury Foreign Exchange (Spot & Forwards) the FMDQDTM OTC PLC Terms of Use and Disclaimer Statement Maturity Bid Discounton (%)www.fmdqotc.com. Offer Discount (%) Bid Yield (%) Tenor Rate (%)

13 30-Oct-14 10.60 20 6-Nov-14 11.00 13-Nov-14 11.00 FGN Bonds27 34 20-Nov-14 10.80 41 27-Nov-14 11.00 Rating/Agency Issuer Description 48 4-Dec-14 10.80 55 11-Dec-14 10.90 69 25-Dec-14 11.15 4.00 23-APR-2015 76 1-Jan-15 11.15 13.05 16-AUG-2016 83 8-Jan-15 11.20 15.10 27-APR-2017 90 15-Jan-15 11.00 9.85 27-JUL-2017 97 22-Jan-15 11.00 9.35 31-AUG-2017 104 29-Jan-15 11.15 10.70 30-MAY-2018 111 5-Feb-15 11.15 16.00 29-JUN-2019 118 12-Feb-15 11.10 NA NA 7.00 23-OCT-2019 125 19-Feb-15 11.00 16.39 27-JAN-2022 132 26-Feb-15 11.10 14.20 14-MAR-2024 139 5-Mar-15 11.20 15.00 28-NOV-2028 146 12-Mar-15 11.00 12.49 22-MAY-2029 160 26-Mar-15 10.85 8.50 20-NOV-2029 174 9-Apr-15 11.20 188 23-Apr-15 11.10 10.00 23-JUL-2030 202 7-May-15 10.45 12.1493 18-JUL-2034 293 6-Aug-15 11.05 TOTAL OUTSTANDING VALUE 3-Sep-15 321 10.90 *from the Amortising bonds, the average life is calculated and not the duration

10.35 10.75 10.75 10.55 10.75 Issue Date 10.55 10.65 10.90 23-Apr-10 10.90 16-Aug-13 10.95 27-Apr-12 10.75 27-Jul-07 10.75 31-Aug-07 10.90 30-May-08 10.90 29-Jun-12 10.85 23-Oct-09 10.75 27-Jan-12 10.85 14-Mar-14 10.95 28-Nov-08 10.75 22-May-09 10.60 20-Nov-09 10.95 10.85 23-Jul-10 10.20 18-Jul-14 10.80 10.65

10.64 11.07 11.09 10.91 11.14 Coupon 10.96 (%) 11.08 11.39 4.00 11.42 13.05 11.49 15.10 11.31 9.85 11.33 9.35 11.52 10.70 11.54 16.00 11.51 7.00 11.43 16.39 11.56 14.20 11.70 15.00 11.51 12.49 11.39 8.50 11.83 11.77 10.00 11.09 12.1493 12.13 12.06

TOTAL MARKET CAPITALISATION

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

Issuer

Description

AMCON

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 Total Outstanding Porfolio Market Value(Bn) 0.00/16.00 LCRM 09-DEC-2016 Volume(Bn) 0.00/16.50 LCRM II 20-APR-2017 998.07 0.00/16.50 LCRM1,022.08 III 06-JUL-2017

Issue Date

Agency Bonds

FMBN Modified Duration Buckets

***LCRM

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Tenor O/N 1M 3M Value Outstanding 6M

(N'bn)

535.00 23-Apr-15 545.27 16-Aug-16 NITTY 452.80 27-Apr-17 Tenor Rate (%) 20.00 27-Jul-17 1M 11.0129 100.00 31-Aug-17 2M 11.1913 300.00 30-May-18 3M 11.2715 351.30 29-Jun-19 6M 11.7221 233.90 23-Oct-19 9M 11.8659 600.00 27-Jan-22 12M 12.3834 331.35 14-Mar-24 75.00 28-Nov-28 150.00 22-May-29 NIFEX 200.00 20-Nov-29 Current Price ($/N) 591.57 23-Jul-30 BID($/N)105.00 164.9050 18-Jul-34

OFFER ($/N)

4,591.19

Coupon (%)

BOND 28-Dec-11 FMDQ FGN 0.00 24-May-10 0.00 03-Apr-12by 17.25by Mkt Weighting Weighting 09-Dec-11Vol 0.00/16.00 Outstanding Value 20-Apr-12 0.00/16.50 06-Jul-1233.52 0.00/16.5033.61

3<5

1,088.24

951.30

31.95

35.79

930.30

1,027.92

34.53

30.60

3,040.62

2,977.29

100.00

Market

Rate (%) 10.8167 12.9367 13.5911 Maturity Date 14.4094

165.0050

OBB

10.42

O/N

10.54

REPO

TTM (Yrs) Tenor Call 1M 0.52 3M 1.83 6M 2.53

Bid Yield Rate (%) (%) 10.42 11.98 11.75 12.45 12.71 12.89 12.86

Tenor Spot 7D 14DYield Offer 1M (%) 2M 3M 11.43 6M 12.61 1Y 12.79

2.78 12.91 12.84 2.87 12.91 12.84 3.62 12.90 12.79 :Benchmarks 4.70 12.85 12.77 * :Amortising Bond 5.02 12.88 12.78 µ :Convertible Bond 7.28 Management 12.82 12.76 AMCON: Asset Corporation of Nigeria 9.41 Government of12.84 12.78 FGN: Federal Nigeria 14.12 Mortgage Bank 13.02 12.98 FMBN: Federal of Nigeria 14.60 13.04 12.99 IFC: International Finance Corporation 15.09Contractors Receivables 13.06 13.00 LCRM: Local Management NAHCO: 15.77 Nigerian Aviation Handling 12.95 Company12.89 O/N: Overnight 19.75 12.89 12.84 NOTE:

UPDC: UAC Property Development Company WAPCO:West Africa Portland Cement Company

Bid ($/N)

Offer ($/N)

165.25 Price 165.35 165.20 165.42 165.47 165.82 Bid Price Offer Price 166.20 166.82 167.42 168.60 168.77 170.47 96.22 96.37 172.81 175.99 100.50 100.65 182.19 187.21 104.70 104.85

93.00 93.15 91.65 91.80 93.77 94.07 NA :Not Applicable 110.80 111.10 # :Floating Rate Bond 78.76 79.06 ***: Deferred coupon bonds 116.50 116.80 107.30 †: Bond rating expired 107.60 112.60 112.90 N/A :Not Available 96.41 96.71 70.22 70.52 NGC: Nigeria-German Company 80.35 80.65 UBA: United 94.70 Bank for Africa 95.00

4,511.97

Rating/Agency

NIBOR

Bonds

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

24.56 3.00 Bucket Weighting 112.22 116.70 66.49 0.34

31-Oct-14 24-May-15 % 03-Apr-17 Exposure_ 09-Dec-16 Mod_Duration 20-Apr-17 06-Jul-1714.64

0.04 0.60 1.34 Implied Yield 2.15 2.51 12.79 2.72

1.00 2.63 2.27 Implied 2.00Price Portfolio 1.00 117.7591 1.00

1,301.320.32

Outstanding Value (N'bn)

INDEX978.35

Valuation Yield (%)

Indicative Price

12.33 14.41 14.53 INDEX 14.84 13.92 1,118.47 13.91

99.53 91.95 YTD103.28 Return 99.86 (%) 97.48 11.8471 94.75

11.9601

31.44

12.83

132.2214

1,119.60

0.35

53.92

12.90

100.8506

1,179.12

17.9121

1.00

100.00

12.86

116.5424

1,112.88

11.2878

1,288.29

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.87

4.44

16.31

96.98

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.71

3.23

15.04

98.93

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

1.00

4.46

16.37

98.19

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

1.00

3.48

15.39

100.64

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.51

5.59

18.51

83.53

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.55

1.00

13.46

100.71

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.21

1.79

14.70

98.21

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.38

1.80

14.69

98.77

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.96

1.00

13.89

100.30

Daily Summary as of 17/10/2014 Printed 17/10/2014 15:05:17.017

Daily Summary (Equities) Activity Summary on Board EQTY FINANCIAL SERVICES Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals

Daily Summary as of 17/10/2014

Printed 17/10/2014 15:05:17.017

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Daily Summary (Bonds)

Symbol ABBEYBDS

No. of Deals 2 2

Current Price 1.30

Quantity Traded 746 746

Value Traded 969.80 969.80

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 91 20 563 29 10 43 93 849

Current Price 3.08 3.91 11.80 4.20 0.51 31.00 1.92

Quantity Traded 4,640,276 575,699 24,037,300 385,340 743,606 855,379 4,743,549 35,981,149

Value Traded 13,961,675.62 2,250,004.90 277,191,066.01 1,591,640.10 382,071.08 26,502,791.20 9,208,596.27 331,087,845.18

274,361,972

2,473,028,542.01

Quantity Traded 459,725 522,791 1,607 708,064 173,825 39,901 1,905,913

Value Traded 898,511.75 1,745,274.03 87,792.40 1,281,270.96 171,185.90 94,577.49 4,278,612.53

Business | Capital Market

The Nigerian Stock Market Exchange as at October 17, 2014

No Debt Trading Activity

Daily Summary (Equities)

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 2 5 5 12

Current Price 0.50 33.00 35.50

Quantity Traded 58,000 7,407 14,020 79,427

Value Traded 29,000.00 235,459.45 472,894.60 737,354.05

Symbol LIVESTOCK

No. of Deals 19 19

Current Price 2.70

Quantity Traded 759,465 759,465

Value Traded 2,079,778.00 2,079,778.00

838,892

2,817,132.05

Quantity Traded 26,937 100 4,211 48,410,318 383,427 48,824,993

Value Traded 37,442.43 390.00 4,337.33 221,562,515.50 19,895,254.66 241,499,939.92

AGRICULTURE Totals

Daily Summary as of 17/10/2014 CONGLOMERATES Printed 17/10/2014 15:05:17.017 Diversified Industries

Symbol AGLEVENT CHELLARAM JOHNHOLT Daily Summary TRANSCORP UACN

A.G. LEVENTIS NIGERIA PLC. CHELLARAMS PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals Activity Summary on Board EQTY

No. of Deals 6 1 2 (Equities) 442 91 542

CONGLOMERATES

Current Price 1.33 3.95 1.08 4.69 51.23

542

CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

48,824,993 Page

No. of Deals 26 26

Current Price 0.80

Quantity Traded 327,832 327,832

Value Traded 262,269.60 262,269.60

Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. ROADS NIG PLC. Infrastructure/Heavy Construction Totals

Symbol JBERGER ROADS

No. of Deals 4 1 5

Current Price 67.20 6.29

Quantity Traded 4,000 666 4,666

Value Traded 255,360.00 4,395.60 259,755.60

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Symbol UAC-PROP

No. of Deals 13 13

Current Price 14.50

Quantity Traded 49,611 49,611

Value Traded 688,248.74 688,248.74

Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC

Symbol SKYESHELT UPDCREIT

No. of Deals 1 2 3

Current Price 100.00 9.00

Quantity Traded 2,500 119,700 122,200

Value Traded 250,000.00 1,077,300.00 1,327,300.00

504,309

2,537,573.94

Current Price 14.94 180.00

Quantity Traded 62,012 103,667

Value Traded 843,641.88 18,654,717.74

No. of Deals 26 132 1 207

Current Price 31.50 165.45 3.98

Quantity Traded 196,434 2,241,570 1,000 2,604,683

Value Traded 6,070,109.80 380,328,847.34 3,790.00 405,901,106.76

CONSTRUCTION/REAL ESTATE Totals

CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC

Daily Summary (Equities) Symbol No. of Deals CHAMPION GUINNESS

Activity Summary on Board EQTY

6 42

Page

CONSUMER GOODS Beverages--Brewers/Distillers INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals

Symbol INTBREW NB PREMBREW

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. Daily Summary as of 17/10/2014 FIDSON HEALTHCARE PLC Printed 17/10/2014 15:05:17.017 GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals

Electronic and Electrical Products

Activity Summary on Board EQTY

CUTIX PLC. NIGERIAN WIRE AND CABLE PLC. Electronic and Electrical Products Totals

Quantity Traded 91,788 91,788

Value Traded 16,305,730.30 16,305,730.30

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON

No. of Deals 8 66 70 16 81 241

Current Price 6.55 7.05 61.40 3.85 8.15

Quantity Traded 19,979 3,417,274 444,973 93,864 2,080,453 6,056,543

Value Traded 124,469.17 24,253,184.97 25,938,918.68 357,033.20 17,103,128.25 67,776,734.27

No. of Deals 23 51 74

Current Price 52.51 980.00

Quantity Traded 33,327 91,193 124,520

Value Traded 1,706,582.15 88,362,874.18 90,069,456.33

Quantity Traded 194,865 194,865

Value Traded 829,617.53 829,617.53

Page Quantity Traded 72,867 28,511 101,378

3 of 11 Value Traded 2,100,026.94 1,241,939.16 3,341,966.10

Daily Summary (Equities) Symbol No. of Deals Current Price

GOODS PublishedCONSUMER by The Nigerian Stock Exchange © Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

VITAFOAM

16 16

4.29

Symbol PZ UNILEVER

No. of Deals 19 8 27

Current Price 30.33 45.85

CONSUMER GOODS Totals

605

FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC Daily Summary as of 17/10/2014 ECOBANK TRANSNATIONAL INCORPORATED Printed 17/10/2014 15:05:17.017 FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC.

Symbol No. of Deals ACCESS 165 DIAMONDBNK 64 ETI 48 FIDELITYBK 48 GUARANTY 340 SKYEBANK 113 STERLNBANK 52 Daily Summary (Equities) 269 UBA UBN 34

Current Price 8.30 5.84 18.25 1.94 26.60 2.66 2.35 5.29 8.60

9,173,777

584,224,611.29

Quantity Traded 71,779,663 13,267,519 28,303,759 52,315,883 16,863,039 5,170,719 4,791,749 11,768,814 247,592

Value Traded 592,487,610.33 75,787,971.95 516,894,669.17 102,022,625.32 444,402,397.65 13,493,761.76 11,114,370.81 62,449,322.47 2,135,084.99

NATURAL RESOURCES Totals Daily Summary as of 17/10/2014 AND GAS PrintedOIL 17/10/2014 15:05:17.017 Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC

Activity Summary on Board EQTY OIL AND GAS Published by The Nigerian Stock Exchange © Integrated Oil and Gas Services Integrated Oil and Gas Services Totals

Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. MANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. STANDARD ALLIANCE INSURANCE PLC. UNIVERSAL INSURANCE COMPANY PLC Daily Summary as of 17/10/2014 WAPIC INSURANCE PLC Printed 17/10/2014 15:05:17.017 Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals

Symbol UNITYBNK WEMABANK ZENITHBANK

No. of Deals Current Price 9 0.50 31 0.95 274 21.40 1,447

Quantity Traded 1,688,645 2,754,563 14,285,765 223,237,710

Value Traded 844,322.50 2,590,001.71 306,374,388.76 2,130,596,527.42

Symbol AIICO CONTINSURE INTENEGINS LASACO MANSARD MBENEFIT NEM NIGERINS PRESTIGE STDINSURE UNIVINSURE WAPIC

No. of Deals Current Price 32 0.78 8 0.91 2 0.52 1 0.50 6 2.99 7 0.54 35 0.69 1 0.50 3 0.50 2 0.50 1 0.50 53 0.63 151

Quantity Traded 6,532,339 705,000 100,000 112,500 62,500 429,000 2,372,300 800 50,000 32,205 150,000 3,517,923 14,064,567

Value Traded 5,223,524.26 641,550.00 52,000.00 56,250.00 190,755.00 231,660.00 1,651,004.60 400.00 25,000.00 16,102.50 75,000.00 2,241,675.25 10,404,921.61

Symbol NPFMCRFBK

No. of Deals Current Price 17 0.94 17

Quantity Traded 1,077,800 1,077,800

Daily Summary (Equities)

Page

FINANCIAL SERVICES Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals

Symbol ABBEYBDS Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

No. of Deals 2 2

Current Price 1.30

No. of Deals 91 20 563 29 10 43 93 849

Current Price 3.08 3.91 11.80 4.20 0.51 31.00 1.92

2,466 Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

No. of Deals 13 15 4 27 12 4 75

Current Price 1.95 3.33 56.00 1.80 0.98 2.49

Page

Quantity Traded 746 746

Value Traded 969.80 969.80

Quantity Traded 4,640,276 575,699 24,037,300 385,340 743,606 855,379 4,743,549 35,981,149

Value Traded 13,961,675.62 2,250,004.90 277,191,066.01 1,591,640.10 382,071.08 26,502,791.20 9,208,596.27 331,087,845.18

274,361,972

2,473,028,542.01

Quantity Traded 459,725 522,791 1,607 708,064 173,825 39,901 1,905,913

Value Traded 898,511.75 1,745,274.03 87,792.40 1,281,270.96 171,185.90 94,577.49 4,278,612.53

No. of Deals 8 8

Current Price 0.53

Quantity Traded 149,100 149,100

Value Traded 79,664.00 79,664.00

Symbol CHAMS

No. of Deals 3 3

Current Price 0.50

Quantity Traded 1,004,000 1,004,000

Value Traded 502,000.00 502,000.00

1,153,100

581,664.00

11 Symbol ASHAKACEM BERGER CAP CCNN DANGCEM DNMEYER PORTPAINT WAPCO

Daily Summary Symbol

No. of Deals 35 25 34 46 25 2 2 124 (Equities) 293

Current Price 30.68 8.50 39.00 14.00 212.00 1.05 4.84 111.06

Quantity Traded 899,965 272,164 216,865 250,975 152,331 2,512 4,900 1,679,928 3,479,640

Value Traded 27,570,851.03 2,285,251.78 8,378,620.12 3,443,003.20 31,720,939.47 2,530.00 23,056.00 186,603,161.08 260,027,412.68

No. of Deals

Current Price

Quantity Traded

Value Traded 7

No. of Deals 8 1 9

Current Price 1.88 0.50

Quantity Traded 231,600 2,550 234,150

Value Traded 435,410.00 1,275.00 436,685.00

Symbol AVONCROWN BETAGLAS

No. of Deals 2 2 4

Current Price 1.59 20.00

Quantity Traded 20,741 1,431 22,172

Value Traded 31,526.32 28,076.22 59,602.54

3,735,962

260,523,700.22

Quantity Traded 10,000 10,000

Value Traded 52,100.00 52,100.00

10,000

52,100.00

306 Symbol BOCGAS

No. of Deals 1 1

Current Price 5.48

1 Symbol JAPAULOIL

No. of Deals 4 4

Current Price 0.50

Quantity Traded 83,772 83,772

Value Traded 41,886.00 41,886.00

No. of Deals 374

Current Price 21.40

Quantity Traded 7,297,066

Value Traded 152,395,266.35

Daily Summary (Equities) Symbol OANDO

Page Quantity Traded 7,297,066

of 11 Value Traded 152,395,266.35

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 20 17 55 18 2 22 134

Current Price 49.23 3.75 215.90 165.80 56.00 171.00

Quantity Traded 45,437 132,414 126,135 42,545 12,100 91,156 449,787

Value Traded 2,025,097.09 473,017.98 26,579,852.05 7,055,034.81 643,720.00 15,590,688.85 52,367,410.78

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

Symbol SEPLAT

No. of Deals 24 24

Current Price 548.31

Quantity Traded 91,165 91,165

Value Traded 50,051,887.65 50,051,887.65

7,921,790

254,856,450.78

Current Price 0.89

Quantity Traded 110,312 110,312

Value Traded 98,177.68 98,177.68

Symbol No. of Deals Current Price Daily Summary (Equities)

Quantity Traded 253,450 253,450

Value Traded 1,015,720.00 1,015,720.00

Page Quantity Traded 7,500 7,500

9 of 11 Value Traded 3,750.00

536 Symbol RTBRISCOE

No. of Deals 4 4

REDSTAREX

10 10

4.00

Symbol CILEASING

No. of Deals 1 1

Current Price 0.50

Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL

No. of Deals 95 95

Current Price 2.89

Quantity Traded 10,428,708 10,428,708

Value Traded 29,313,732.73 29,313,732.73

Media/Entertainment DAAR COMMUNICATIONS PLC Media/Entertainment Totals

Symbol DAARCOMM

No. of Deals 5 5

Current Price 0.50

Quantity Traded 114,000 114,000

Value Traded 57,000.00 57,000.00

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 6 14 17 37

Current Price 1.38 1.31 4.00

Quantity Traded 108,170 94,498 307,700 510,368

Value Traded 148,554.52 124,647.38 1,192,615.97 1,465,817.87

Road Transportation

Symbol ABCTRANS

No. of Deals 16 16

Current Price 0.65

Quantity Traded 1,278,657 1,278,657

Value Traded 840,572.86 840,572.86

Symbol AIRSERVICE

No. of Deals 3 32 35

Current Price 1.91 5.00

Quantity Traded 71,500 1,239,458 1,310,958

Value Traded 136,565.00 6,215,174.55 6,351,739.55

Activity Summary on Board EQTY

Employment Solutions Totals

ASSOCIATED BUS COMPANY PLC Daily Summary as of 17/10/2014 Printed 17/10/2014 15:05:17.017 Totals Road Transportation Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Activity Summary on Board EQTY SERVICES Published by The Nigerian Stock Exchange ©

Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

Page

Symbol CUTIX NIWICABLE

Current Price

Activity Summary on Board EQTY

No. of Deals 374

Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals

Value Traded 938,278.00 938,278.00

4,278,612.53

Symbol COURTVILLE

OIL AND GAS Totals

1,905,913

Symbol

Daily Summary as of 17/10/2014 SERVICES Printed 17/10/2014 15:05:17.017 Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

Activity Summary on Board EQTY FINANCIAL SERVICES Banking UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

Packaging/Containers AVON CROWNCAPS & CONTAINERS BETA GLASS CO PLC. Packaging/Containers Totals

NATURAL RESOURCES Chemicals B.O.C. GASES PLC. Chemicals Totals

Current Price 162.86

Household Durables VITAFOAM NIG PLC. Household Durables Totals EQTY Activity Summary on Board

Page

INDUSTRIAL GOODS Totals

No. of Deals 40 40

NESTLE NIGERIA PLC. Food Products--Diversified Totals

Processing Systems CHAMS PLC Processing Systems Totals

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC Daily Summary as of 17/10/2014 CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC Printed 17/10/2014 15:05:17.017 DN MEYER PLC. PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals

Current Price 1.95 3.33 56.00 1.80 0.98 2.49

ICT Totals

Symbol 7UP

Symbol CADBURY NESTLE

Symbol No. of Deals EVANSMED 13 FIDSON 15 GLAXOSMITH 4 MAYBAKER 27 NEIMETH 12 PHARMDEKO 4 Daily Summary (Equities) 75

Activity Summary on Board EQTY

Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Daily Summary as of 17/10/2014 Food Products--Diversified Printed 17/10/2014 15:05:17.017 CADBURY NIGERIA PLC.

2,466

241,499,939.92 1 of 11

Symbol COSTAIN

UPDC REAL ESTATE INVESTMENT TRUST Daily Summary as of 17/10/2014 Real Estate Investment Trusts (REITs) Totals Printed 17/10/2014 15:05:17.017

FINANCIAL SERVICES Totals

DailyNAHCO Summary (Equities)

Symbol CAVERTON

No. of Deals 23 23

Page

Quantity Traded 119,612 119,612

Value Traded 500,258.16 500,258.16

226

14,133,565

39,646,768.85

EQTY Board Totals

4,846

362,564,273

3,864,047,095.59

Equity Activity Totals

4,846

362,564,273

3,864,047,095.59

SERVICES Totals

Current Price 4.18

3,750.00

Daily Summary (ETP) Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol NEWGOLD VETGRIF30

No. of Deals 1 2 3

Current Price 1,957.00 17.28

Quantity Traded 11 65 76

Value Traded 21,527.00 1,133.10 22,660.10

ETF Board Totals

22,660.10

ETP Activity Totals

22,660.10

Page

News

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

SOUTH EAST

Aba, a testimony of misrule against Orji, PDP, says APC chieftain Steve Uzoechi OWERRI

hieftain of the All Progressives Congress (APC) Chief Okey Nwagbara, has described the administration of Governor Theodore Orji in Abia as a complete failure. “If we had been in a military era, Governor Theodore Orji of Abia State and his Peoples Democratic Party (PDP) cronies would have been sure of facing a tribunal and possibly a firing squad after his tenure. But thankfully, we are still rehearsing a democracy,

where anything goes.” Nwagbara said in a telephone interview. That was the feeling of Chief Okey Nwagbara, the All Progressives Congress (APC) Zonal Chairman for Abia Central while responding, in a telephone interview, to assertion against the APC credited to Chief Uchechi Ogbuka, the Publicity Secretary for Abia PDP. Nwagbara regretted that Abia people freely gave their mandate to the PDP for the eight years of Orji and all they have to show for it is the unprecedented dilapidation

and deprivation visited on the people of the state. Said he: “I appreciate Ogbuka’s need to do the job he was paid to do but beyond politics, let us judge for ourselves. Is it not an insult on Abia people that every Nigerian is avoiding Aba like a plague? In a state with a sitting governor, is it not an insult that motorists spend upwards of six hours along Osisioma road to enter Aba? Is it not a tragedy that the Theodore Orji-led PDP government in Abia State is leaving Aba and indeed Abia State worse than they met it after eight years of maladministra-

tion? Whether they accept it or not, I can assure them that our ancestors will not forgive Governor Theodore Orji and everybody that is a party to the ongoing misrule in Abia State.” According to the APC chieftain, Orji and the PDP have exalted mediocrity above excellence and credibility in Abia State. “Because of the non performance of this administration and their definition of governance, every idle politician in the PDP now thinks he can govern Abia State. Their thinking is that; if Orji could govern Abia for eight years, then

anybody can”, he said. Citing the Hero’s Brewery attracted by former Governor Peter Obi of Anambra State, which he said has created job opportunities for over 5, 000 persons in the state, Nwagbara said: “Let them mention one single investor they attracted to Abia State in spite of the commercial status of Aba. “Let them tell us one major federal project fully completed and the performance of all their Abujabased politicians in the PDP. Honestly, they care little or nothing about the people.”

Speaker, House of Representatives, Hon. Aminu Tambuwal (left), exchanging pleasantries with the Catholic Bishop of Okigwe Diocese, Most Rev. Solomon Amatu, during the innauguration of St. Peter’s Catholic Church, Umuokpara, Okigwe, Imo State…yesterday

Arunsi goes for third term Igbeaku Orji Umuahia

rince Arua Arunsi, the member representing Arochukwu/ Ohafia Federal Constituency of Abia State was among the early callers at the Abia State PDP secretariat to pick the nomination and expression of interest forms to return to the lower legislative chamber. Arunsi wants to return for the third term to complete his eight years. His first term was short by over two years by the former occupant, who was sacked by an election tribunal. Speaking to newsmen at the Finbars Road secretariat of the PDP after picking the forms, Arunsi, who hails from Nkporo in Ohafia council area, said he believes in rotation, equity and fairness and would have on those basis relinquished the position to the Arochukwu area but had to complete at least eight years, which he said were shortened in what was supposed to be his first tenure. He admitted that the Arochukwu area would be right to agitate for the position “but I must do eight years. I spent only six months in the first term. I believe in zoning.” He said he has attracted N8bn worth of projects to his constituents, including the rehabilitation of the Nkporo/Nguzu/Oso Edda Road and the Ohafia/Arochukwu Road.

Onyebuchi, ex-Enugu Dep Gov, challenges impeachment APGA aspirant supports Uwakwe Abugu Enugu

or mer deputy governor of Enugu State, Mr. Sunday Onyebuchi, who was recently impeached by the state House of Assembly, has instituted a legal action seeking a declaration that his removal from office was illegal, null and void. He prayed the Enugu State High Court to reinstate him. In the event his tenure expires before the final determination of the suit, he asked the court to

grant an order that his full entitlements within the period be paid to him. Onyebuchi’s five-man team of lawyers is led by Chief Femi Falana (SAN). The suit number E/373/2014, filed on September 30, 2014, is also asking the court to determine whether the state Assembly could initiate removal or impeachment proceedings against him when he had not committed a gross misconduct in the performance of his functions as the state deputy governor. Appearing with Falana in the matter are Chief Ogochukwu

Onyekwuluje, Chief Chris Aghanwa, Osinachi Nwoye, and C.K. Ogbonnaya. Those listed as defendants in the case include the Speaker, Hon. Eugene Odoh, 23 other lawmakers of the House, the House of Assembly, and the new deputy governor, Pastor Ifeanyi Nwoye. In the originating summons, Onyebuchi contends that in view of the provisions of Sections 188(2) and 188 (11) of the 1999 Constitution of the Federation (as amended) and the momentous decision of the Supreme Court in Inako-

ju and others VS Adeleke and others (2007) 4 NWLR ( Pt. 1025) 423, his impeachment was illegal, null and void. He wants the court to determine: “Whether the Enugu State House of Assembly could initiate removal or impeachment proceedings against His Excellency, Sunday Onyebuchi, the Deputy Governor of Enugu State for the purposes of removing him from office when he had not committed a gross misconduct in the performance of the functions of his office as deputy governor of Enugu State.

Ihenacho, Ezeh trade words over Imo endorsment Steve Uzoechi Owerri

ollowing the rejection of the endorsement of Captain Emmanuel Ihenacho as the consensus candidate for the Imo gover-

norship election in 2015 by Mr. Okey Ezeh, an aspirant on the party’s platform, a war of words has ensued between the two. Ezeh, had in rejecting the adoption, described the action as illegal and undemocratic. But a

group known as Imo Consultative Assembly (ICA) has accused Ezeh of allegedly being sponsored by the rival All Progressives Congress (APC) to instigate crisis and possibly scuttle the party’s chances of reclaiming Imo gover-

norship position in 2015. Beside the position of the group, Emperor Iwuala, the media aide to Iheanacho, has also said as much insisting that the endorsement was valid and in accordance with the party’s constitution.

removal of immunity clause Peter OSONDU

ABA

n aspirant in the Ideato North/Ideato South Federal Constituency of Imo State on the platform of the All Progressives Grand Alliance (APGA), Chief Emeka Diwe, says the removal of the immunity conferred on the President, Vice President, governors and deputy governors, will deepen democracy and respect for rule of law in Nigeria. Speaking in Aba, Diwe, who was reacting to the proposal by the House of Representatives to remove the immunity clause, added that the provision has been so much abused by public officers. “I commend members of the House of Representatives. The immunity clause in the Nigerian Constitution has been so much abused and needs to be reviewed. So, if the

House of Representatives has considered it important, it is a welcome development. If immunity clause is removed, it will control the impunity being exhibited by some members of the executive arm of government. “If they are aware that they will be held accountable for their deeds while they are in office, they will show restraint in some of their actions. There will be respect for the rule of law and the judiciary. People in public offices will show more responsibility in governance. I only pray that the senate will back the proposal.” The APGA chieftain, who is said to have been receiving endorsements by several stakeholders in the constituency, called on the electorate to only support candidates with rich credentials, capable of bringing concrete dividends of democracy to the area.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

News 47

SOUTH-SOUTH

APC, PDP bicker over bomb scare in Ize-Iyamu’s house Cajetan Mmuta BENIN

he political crisis ragging between the ruling All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP) in Edo state, assumed fresh dimension yesterday, as the two camps launched verbal attacks against each other over a suspected bomb blast at the residence of PDP Chieftain and former Secretary to State government, Mr. Osagie Ize Iyamu. The incident which occurred at about 10:40pm on Saturday at No 16, Dennis Osadebey Avenue, about a few meters away from one of the gates leading to

government house, had ripped off a section of the security gate of the residential property. It was gathered that the complex also serves as a clinic of the wife of Ize Iyamu. Residents of the area expressed shock and were panic stricken following the deafening impact of the explosion. No life was however lost in the attack but a security guard narrowly escaped being hurt. The guard whose name could not be ascertained as at the time of filing this report was said to be patrolling round the premises which houses blocks of flats when the unidentified suspects threw in the explosive device. The leaderships of

both the PDP and APC in the state have pointed accusing fingers at each other since the attack on the member representing Etsako West constituency 1, Mr. Razak Momoh of the PDP and a counter attack on the APC lawmakers at the legislative quarters which left about 36 exotic cars and many other valuable properties destroyed by some hoodlums suspected to be thugs of one of the political parties in the state. Ize-Iyamu in reaction yesterday accused the State Governor, Adams Oshiomhole of allegedly masterminding the attack on his wife’s clinic, pointing out that the governor had few days past also threatened his life at public functions. Ize Iyamu, who spoke

on the incident while addressing to newsmen in Benin the state capital said, “Last night at about 10:40 pm, I got a text from one of the tenants living here (scene of the explosion) that a bomb had been thrown into my wife’s clinic. So immediately called a tenant who told me that it just happened; so I called the security agencies and I rushed there”. “I actually found that a bomb was detonated, security agencies were able to see the wire that was used from across the road, and it was a white wire and a masking tape. “I want to say categorically that I am not surprised at what happened even though the dimension was sudden. I say categorically that

I hold Governor Adams Oshiomhole responsible because in the past few days he has threatened my person publicly. I have it on tape even in many fora and the rally he held at Ikpoba Okha where he falsely accused me and some other PDP leaders of masterminding the attack of the legislative quarters”. He said: “Many of you will recall that since I left APC it has become Oshiomhole’s past time to mention my name at every opportunity he has and I have a right to associate politically. Oshiomhole has made this state ungovernable by his action and conduct. I want to make it clear that Oshiomhole cannot intimidate me. “This is not the only

state in Nigeria that you have opposition, this is a man who pretended he come from a civil background but is intolerant to opposition. It will interest many of you to know that members duly elected, because they belong to the PDP, their salaries, allowances, vehicles have been seized and many ejected from their quarters. This is the action of a tyrant,” he said. He added that, “The target obviously was my wife’s clinic but the bomb denoted right here , the security guard I was told was patrolling the compound when the incident occurred if he was here he would have been killed instantly but luckily he was far away. The director of the SSS, the bomb deposal men also came”.

Sacked Mobil workers demand payment

he recently 238 sacked contract staff of Mobil Producing Nigeria (MPN), Unlimited in Ibeno, Akwa Ibom, have asked the management of the company to pay all their disengagement benefits. Spokesperson of the sacked workers, Mr Elioto Emmanuel, made the appeal in an interview with the News Agency of Nigeria (NAN) in Ibeno on yesterday. Emmanuel said the sacked staff were surprised at the company’s action because no reason was given for their sack stating, ``We were shocked because the oil company did not give us any tangible reasons for disengaging us and nobody expected it. After the Sallah break, we went to work and heard that ExxonMobil had sacked 238 of us and no reason was given for that,’’ he said. The spokesman said that since they were thrown out of job two weeks ago, they had been destabilised and facing hard times. He appealed to the company to pay them their disengagement benefits to enable them to start a business of their own. The affected staff worked at the company’s Qua Iboe terminal, airstrip and estate. Mr Ozemoya Okordion, the Manager, Public and Government Affairs (Media and Communication) ExxonMobil, confirmed the sack but did not give any reasons for the company’s decision.

L-R: Five Dutch citizens kidnapped in the creeks of the Niger Delta in May 2014, Miss Marianne Vos-Hendrix; Erhard Leffers; Femi Soewu; Jandries Groenendijk and Comrade Sunny Ofehe, during an award on media, humanitarian and activism by the Africa Diaspora Merit Award (ADMA) in Amsterdam, Netherlands… recently.

Senate Leader laments high turnover of legislators Chukwu David Abuja

enate Leader, Victor Ndoma-Egba, at the weekend decried the high turnover of legislators in the National Assembly, lamenting that the trend was inimical to the growth and development

of democracy in Nigeria. Senator Ndoma-Egba, who spoke with journalists on high turnover in the apex parliament in Abuja, noted that from 1999 till date, only two senators – David Mark and Bello Gwarzo – were able to survive the political tide that swept many senators out of the Red Chamber every four years.

Nyiam, others kick against adoption of candidate Clement James Calabar

elegate to the recently concluded National Conference, Colonel Tony Nyiam (rtd), has promised to kick against any plan to adopt any aspirant for the Cross River Central Senatorial seat. Nyiam while speaking in Ikom during at a declaration for the Senatorial seat by a member representing Etung/Obubra

federal constituency in the House of Representatives, Hon John Owan Enoh, yesterday, said the adoption of candidates would be wrong signal that will only set the zone several years backward. “How can we be talking of adoption when our roads are impassable? We have made our choice. Our choice is Hon Owan Enoh, and we shall not accept any form of automatic ticket or whatever name you call it,” Nyiam stated.

He observed that the presence of Mark, who is the President of the Senate, and Gwarzo, the Chief Whip, as the longest serving senators, had brought peace and stability to the Senate and by extension to Nigeria in general. He argued that even though the National Assembly had not done badly

in the last 16 years of democratic governance in the country, the legislative institution would have done better if members were allowed to return as many times as possible in order to invest their wealth of experience in the business of lawmaking. The politician, who represents Cross River Cen-

tral, explained that while the constitution allows the executive arm two-term limit for the heads of the arm at all levels, there is no term limit for the legislature. He wondered why the parliamentarians should not be given a chance to make career in legislative business to the benefit of the entire system.

Ijaw youths move against zoning Chris Ejim Yenagoa

undreds of Ijaw Youths at the weekend, condemned the zoning of elective positions in Bayelsa State campaigns for the East Senatorial district heightned with the declaration of the incumbent, Senator Nimi Barigha-Amange, that he is the best materials that can effectively represent Bayelsa at the Senate. The move by the Youths is said to have however

put pressure on stakeholders of the Peoples Democratic Party (PDP) to zone the Bayelsa East Senatorial ticket to Brass Local Government area. While the Ijaw Youths, drawn from the eight local government councils area of the State under the aegis of the Nigerian Youth Project for Jonathan 2015, noted that though President,Goodluck Jonathan is yet to declare, they have unanimously stated that the duo of

Jonathan and BarighaAmange have become the needed combination for accelerated development and growth in the area. The Director General of the Nigerian Youths Project for Jonathan,Comrade Ken Okorodas,while addressing women and youths in Yenagoa, said the achievements recorded by the administration of Dr. Jonathan have rejuvenated the various sectors of the economy including roads, aviation, transport.

News

monday, OCTOBER 20, 2014 NEW TELEGRAPH

north

Benue APC accuses Akume of anti-party activities Cephas Iorhemen Makurdi

he All Progressives Congress (APC) in Benue State, at the weekend, lost the bye-election conducted for Buruku federal constituency to the ruling Peoples Democratic Party (PDP) with its stakeholders accusing

Senate Minority Leader and leader of the party in the state, Senator George Akume, of anti-party activities. INEC Returning Officer, Dr. Mathias Ndev, who declared the results in Buruku office of the commission, said the PDP candidate, Mr. Terfa Tyav, scored a total of 25,988 votes to beat the Labour Party (LP) candidate, Mr.

John Tine, who polled 3, 602 votes while APC’s Sekav Iortyom, who withdrew from the race on the eve of the election for reasons best known to him, got 395 votes. Our correspondent, who witnessed the exercise, observed that it was hitch-free as accreditation of voters started as early as 8.00am before voting commenced by 12.00 noon

till 4.00pm. New Telegraph observed that there was heavy security presence in the area, just as there was voter apathy, while most of the polling units were seen with curious voters waiting to exercise their franchise. It was also observed that there were pockets of irregularities in some polling units and council

wards while low turnout of voters was the order of the day due to the heavy down pour that prevented others from coming out to vote. But, a chieftain of the APC from Buruku, Mr. Anongo Imbor, linked the failure of the APC to win the bye-election to the inability of Akume to do proper homework with supporters of the party

L-R: Asiwaju Musulumi of Yorubaland, Alhaji Khamis Olatunde Badmus; newly-turbaned Chief Imam of Osogboland, Osun State, Sheikh Musa Animasaun; Governor Rauf Aregbesola and the Ataoja of Osogbo, Oba Jimoh Olanipekun, during the installation of Animasaun at the Osogbo Central Mosque, Osogbo …yesterday

Nigeria’ll meet 2015 target on MDGs, says lawmaker

he Chairman, House Committee on Millennium Development Goals (MDGs) in the House of Representatives, Alhaji Hassan Doguwa, has assured that Nigeria would meet the 2015 deadline for achieving the MDGs. Doguwa gave the assurance in an interview with the News Agency of Nigeria (NAN) yesterday, after inspecting some MDGs’ projects in Dutse. According to him; Nigeria has already attained most of the MDGs except for some few areas. He listed the areas of achievement to include

the Universal Basic Education, curtailing the spread of HIV and AIDS, as well as the reduction of poverty and hunger, among others. “We have engaged or tackled most of the MDGs effectively and Nigeria continues to play a leading role in the continent of Africa, standing very tall in the comity of nations. “I am optimistic that Nigeria will successfully emerge victorious in 2015, thereafter start the next level of development after the MDGS, which is sustainable development goals,” he said.

Awoniyi: No longer business as usual Muhammad Bashir Lokoja

ogi State Deputy Gover nor, Yomi Awoniyi, has assured that it will no longer be business as usual in the way the affairs of the Peoples Democratic Party (PDP) will be run in Mopamuro Local Government of the state. Awoniyi said the party under the leadership

of President Goodluck Jonathan and Alhaji Adamu Muazu, is more than ever before poised to be people centred, with power derived from the people. The deputy governor gave the assurance at a meeting held in Mopa with PDP members in the council area. The meeting was geared towards repositioning the party for greater challenges ahead the 2015 elections.

despite the fact that the area was a stronghold of the APC. Imbor said Akume had called some of his lieutenants and directed that all APC faithful should vote for Labour Party candidate, John Tine, wondering why such decision was taken without the consent of the leader of the party in the area, Hon. Orker Jev. Commenting on the conduct of the election, INEC Resident Electoral Commissioner in the state, Alhaji Abba Yusuf, said any individual or political party that is not satisfied with the outcome of the exercise should channel it to the legal department of the electoral umpire. It will be recalled that Iyortom of the defunct ACN had instituted a suit against his party, the defunct ACN, INEC and Mr. Orker Jev, at the Federal High Court, Makurdi, alleging that his name was wrongfully substituted by his party with the name of Jev shortly before the 2011 general elections. After hearing the suit, the trial court in Makurdi entered judgement in favour of Iortyom on the grounds that the ACN (now APC) erred in law by substituting the name of Iortyom with that of Jev.

APC rues LGs’ Caretaker Borno schools get November resumption date Committee in Niger B impunity Jonathan Vatsa thinks the Aliyu regime does not follow the rule

Dan Atori MINNA

he All Progressives Congress (APC) in Niger State yesterday flayed the appointment and inauguration of caretaker committees to run the affairs of the 25 local government areas of the state by the governor, Dr. Muazu Babangida Aliyu. The party in a statement signed by its Publicity Secretary, Comrade Jonathan Vatsa and made available to our correspondent reads in part; “The action of the Peoples Democratic Party (PDP) led government of Dr. Mu’azu Babangida Aliyu was not only unconstitutional, but a naked show of impunity, a trademark that has become the identity of the

ruling party. According to Vatsa; “We view the excuse of closeness to the 2015 general elections advanced by Governor Aliyu as reason for the non-conduct of elections into the 25 local government councils as untenable and unacceptable.” However, in a statement reacting to APC’s position on the issue, the Chief Press Secretary to the Governor, Mr. Israel Ebije said: “The APC has failed to realise that Niger State under the leadership of Dr. Mu’azu Babangida Aliyu, is one of the few that have consistently complied with the constitutional process of producing local government chairmen in Nigeria. He said: “For emphasis sake, Niger State has broken the record as one of the few states in the federation that have conducted elections in local government areas since the last seven years. Dr. Aliyu’s administration has always advocated for a democratic local government and has been consistent in its position in that direction.”

orno State government yesterday said that public schools in the state would reopen in November. Chairman, Committee on the Resuscitation of Primary School Education, Dr. Mohammed Dongel, who stated this at a meeting in Maiduguri, said the schools would reopen in the first or second week of the month. The News Agency of Nigeria (NAN) reports that public schools were closed down on March 14, after deadly attacks by suspected Boko Haram insurgents in schools in neighbouring Yobe State. “We hope to reopen

all public schools by the first or second week of November, God willing. “By then, we hope to have put in place all necessary infrastructure and instructional materials needed for teaching and learning,” he said. Dongel said the committee would also introduce measures to enhance school enrollment in the state. “We plan to introduce various measures to encourage parents to send their children and wards to school. “The measures will also help entice pupils, who are enrolled in school to remain,” he said.

Jonathan to inaugurate Dutse airport tomorrow

ll is now set for President Goodluck Jonathan’s state visit to Jigawa tomorrow, an official of the state government has said. The Director of Press at the Gover nment House, Dutse, Alhaji Umar Kyari, gave the assurance in an interview with the News Agency of Nigeria (NAN) in Dutse. Kyari said Jonathan would, during the visit,

inaugurate the multi-billion naira Dutse International Airport. NAN reports that the first batch of the state’s 2014 pilgrims to Saudi Arabia took off from the airport. According to the spokesman, Jonathan will also inspect projects in the newly established Jigawa State University, Kafin-Hausa.

News 49

NEW TELEGRAPH monday, OCTOBER 20, 2014

Jonathan, most tolerant president, says Rep Philip Nyam

Abuja

hairman of the House of Representatives’ committee on Niger Delta Affairs, Hon. Warman Ogoriba (PDP, Bayelsa) has said President Goodluck Jonathan’s tolerance for opponents will be difficult for his successors to sustain. Ogoriba, who made this assertion in Abuja, while speaking to the House press corps, said though the Jonathan remains the most criticised of the nation’s leaders, he has never attempted to gag his critics or go after them. He said: “In terms of political stability in the country, you can’t take the unrivalled achievement of a stable political climate away from the Jonathan administration. “Just take for instance, the National Assembly. From 1999 to 2009, you can count the number of impeachments of presiding officers in both chambers of the National Assembly. And all of those impeachments had the imprints of the Executive arm on them.

Jonathan: Nigeria has learnt from Gowon Anule Emmanuel

resident Goodluck Jonathan yesterday said that the country and its leader particularly have learnt a lot from former Head of State, General Yakubu Gowon, who strived and continues to work towards stronger unity of Nigeria. The President made reference to what seems to be the soft approach of his administration towards the fight against

insurgency. Speaking at the service to commemorate Gowon’s 80th birthday at the National Christian Centre, Abuja, the President cited Gowon ‘s principle of not crushing his enemies during the civil war as a quality worth emulating to unite the country other than divide it. Jonathan described the former Head of State as a great example of a genuine elder statesman, who was accommodating

of even his enemies in the interest of peace and unity of the country. He spoke of Gowon’s commitment to Nigeria and his disposition during and after the Nigerian civil war, especially with his pursuit of the three Rs, reconstruction, rehabilitation and reconciliation. “As a patriot and head of government then and was prosecuting the civil war, he did not see the Biafran side as a thing that must be crushed.

He saw the war as a struggle of Nigerians and his emphasis was ‘how do we keep Nigeria together.” “It was not ‘we must crush them or we must defeat them’. Of course, that was why the slogan, ‘To keep Nigeria one is a task that must be done,’ came up and of course, ‘Go on with one Nigeria’.” “That is, his commitment is to unite this country, to keep Nigeria one. Not to win a war, not

to defeat an opponent, not to crush a rebellion but how do we bring this nation as indivisible body,” Jonathan observed. Jonathan noted Gowon’s effort to galvanise Nigerians into prayer for unity and his cooperation with succeeding administration to develop the country. “He hardly misses Council of State. If we call for Council of State and Gowon is not there, it must be for something inevitable,” he said.

‘Kwara PDP leaders won’t defect after primaries’ Biodun Oyeleye Ilorin

he fears that some of the gladiators in the Peoples Democratic Party (PDP) in Kwara State would dump the party if they fail to pick their expected tickets have been allayed. One of the aspirants for the House of Representatives’ ticket in the state, Dr. Rafiu Ajiboye, who made the assertion in Ilorin, the state capital, during a chat with our reporter, said that the contrary to such position, each of the so-called gladiators understood why they must remain in the ruling party, even if they fail to be picked to run in the forthcoming elections. Fears have been expressed that given the array of aspirants in the party, particularly for the gubernatorial ticket, the party stands the risk of losing some of those, who may lose during the primaries. The ruling All Progressives Congress (APC) in the state has recently made indirect references to the situation in the PDP and expressed certainty that some of them would be forced to come back to the APC.

L-R: Chief John Ayodele; Princess Shola Adedoyin and Kwara State PDP governorship candidate, Mr. Jani Ibrahim, at the inauguration of the Jani Campaign Council in Ilorin…yesterday.

PDP will win in Chibok, says Aruwa Ibraheem Musa Kaduna

resident Goodluck Jonathan will win even in Chibok, the town where 270 school girls were abducted in Borno State over six months ago, if he decides to seek reelection on the platform of the Peoples Democratic Party(PDP). That is according to Senator Ahmed Aruwa. Aruwa, who represented Kaduna Central Senatorial District, made this known during an interaction with newsmen. He faulted the widely-held belief that the president will lose the coming election due to the insurgency that is plaguing some parts of the country. According to him, the argument of the opposition that Jonathan will lose the election based on the activities of Boko Haram is just a waste of time, considering what the president has achieved. Aruwa, who contested for the governorship of Kaduna State in two previous elections, pointed out that the president needed just

25 per cent of votes from the North to get re-elected. The PDP chieftain also noted that overcoming the country’s security challenges, “is not the responsibility of Jonathan alone. It is the responsibility of all of us. So, if you look at the elections of President Jonathan, all he need is 25 per cent, and I can assure you even in Chibok, Jonathan will get 25 per cent of the public votes. That’s all he needs.’’ Aruwa also described the All Progressives Congress gubernatorial aspirant, former Minister of Federal Capita Territory, Mallam Nasir El-Rufai as a threat to Governor Muktar Yero, adding that the threat is surmountable. “Any opposition is a threat to incumbent. Any opposition no matter how small, but it is not the threat that will consume the ruling party. It is threat that must be addressed democratically. “He’s trying his best. He’s trying his luck. Others have tried. I have contested the same seat twice. So, nothing stops him from contesting but then, I cannot say whether he’s fit and proper.

FG can’t take over LagosBadagry Expressway project Muritala Ayinla

over nor Babatunde Fashola of Lagos State yesterday debunked insinuation by the Federal Government to take over the expansion of the LagosBadagry Road project, describing the attempt as unlawful and impossible. The governor questioned the rationale for the Federal Government to imagine embarking on the project it had not provided the logistic, design and the fund for its execution and vowed to challenge the move if indeed there was an attempt to do so. He also demanded the

payment of the N51 billion that the Logos Government expended in maintaining Federal-roads in the state, saying that the long overdue refund would go a long way in reducing the debt profile of the State, which the Federal Government and her “voodoo economists” recently published to mislead the public. He spoke in Lagos at occasion to mark his 2, 700 days in office, saying his administration delivered numerous dividends of democracy to Lagosians in the last 100 days and was not aware of plans by Federal Government to derail development process in the state.

Akwa Ibom SSG resigns

he Secretary to the Akwa Ibom State Government, Mr Udom Gabriel Emmanuel, will resign his appointment today. Emmanuel, who has been under intense pressure from different quarters to contest the 2015 governorship election, appears to have heeded the pleas and is set to declare his governorship

ambition tomorrow. Speculations had been rife that the former banker, who became the SSG less than a year ago was set to succeed Governor Godswill Akpabio, whose second term expires in 2015. But with his resignation and declaration scheduled for tomorrow in Uyo, he has put paid to those speculations.

Saraki’s aide joins senatorial race Biodun Oyeleye Ilorin

hief of Staff to Dr Bukola Saraki and a former member of the House of Representatives, Hon. Gbenga Makanjuola, has joined the Senatorial race in Kwara South. Makanjuola, who obtained the intent form at the All Progressives Congress (APC) secretariat in Ilorin, pledged to deliver the district to APC, if given the mandate. According to him, he joined the race in order to ensure qualitative representation for the district. He said: “I am ready to deliver Kwara South to APC in the forthcoming election if given the opportunity and also set to perform better than I did as a member of the House of Representatives.” He said the Senatorial district needs development both in infrastructure and human capital and “this is only possible with APC under the leadership of our leader, Senator Bukola Saraki”.

50 WORLD | News

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

India PM’s party tightens grip on power with thumping poll wins

ndia’s right-wing ruling party secured strong victories yesterday in two important state elections, tightening its grip on power after storming to power nationally five months ago. Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) was assured of victory in Maharashtra, of which financial hub Mumbai is the capital, over its centre-left rival the Congress party which ruled the western state with its allies for 15 years. Celebrations erupted at BJP headquarters in Mumbai, with supporters lighting firecrackers, feeding each other sweets, throwing flower petals and

shouting “Long live Mother India!” The BJP won outright for the first time in Haryana, which borders the national capital, handing the once-powerful Congress a humiliating defeat after its 10-year rule of the state, official results showed. “We are two steps closer to our mission of a Congress-free India,” BJP president Amit Shah told reporters in New Delhi with a grin as vote-counting continued. “Today’s results show that the Modi wave is still the tsunami that can destroy,” Shah said after supporters placed a garland around his neck. Modi, a popular leader and fiery orator, campaigned doggedly for

the elections held last week. The victories are likely to encourage him to push ahead with promised economic reforms, some of which could prove unpopular. The nationalist leader won a landslide victory win at the national polls in May on a pledge to revive the ailing economy

and clean up endemic corruption, but many reforms have yet to be introduced. On the eve of the results, Modi’s government lifted controls on diesel prices in an attempt to give market forces greater influence over the economy, attract investment and cut subsidies. Suc-

cess for the BJP would also strengthen its power in the national parliament’s upper house, crucial for the passing of contentious laws. The BJP currently lacks a majority in that chamber, whose composition is based on seats won in regional assemblies.

Killer in the honeymoon murder trial dies in prison

he man convicted for the murder of a woman killed on honeymoon in Cape Town has died, announced South Africa’s Department of Correctional Services. Xolile Mngeni, who was convicted for the murder in 2010 of Anni Dewani, died in a hospital unit of a Cape Town prison yesterday. South African prosecutors argue that the woman’s husband, Shrien Dewani, conspired with Mngeni and two other men to kill his wife. Dewani, who has pleaded not guilty to charges ranging from murder to kidnapping, said he and his wife were hijacked at gunpoint while on a nighttime drive through a Cape Town township. Dewani said he was forced out of the car and the alleged assailants drove off with his wife still in the backseat of the car. The car

and the body of Anni Dewani were found the next day. Mngeni, who was convicted as the man who fired the gun that killed the 28-year-old Swedish national, was serving a life sentence when he died. Mngeni was diagnosed with a brain tumor during his murder trial in 2011. The Cape Town local applied for medical parole in July this year but it was denied. Earlier this month, another man convicted for the murder, Mziwamadoda Qwabe testified that he was hired by the Dewani’s taxi driver, Zola Tongo, to kill Anni Dewani. Qwabe and Tongo are currently serving long prison theories for the killing. Dewani is standing trial in South Africa after fighting extradition from the United Kingdom for nearly four years. Mngeni has been a figure during the ongoing trial.

Jihadists take heavy losses in battle for Syria’s Kobane

he Islamic State group was taking heavy losses in the Syrian battleground of Kobane yesterday as Iraqi forces fought the jihadists buoyed by US backing for top government security appointments. US Secretary of State John Kerry said the appointment of defence and interior ministers after weeks of delay was a “very positive step forward” in the fightback against IS in Iraq, which Washington has made its priority. But US-led warplanes launched 11 air strikes near Kobane Saturday and yesterday, US Central Command said, helping the town’s Kurdish defenders to repulse a new attempt to cut their supply lines into Turkey. The Kurdish fighters, who have been under IS assault for more than a month, weathered fierce street fighting and at least two jihadist suicide bombings but the front line remained unchanged on Sunday, a Kurdish official

said. “(IS) brought in reinforcements... and attacked hard,” Idris Nassen told AFP by telephone. “But thanks to air strikes and (the Kurdish fighters’) response, they did not make any progress.” The IS fighters suffered heavy losses in Kobane, which has become a key prize as it is being fought under the gaze of the world’s press massed just over the border in Turkey. From Saturday into yesterday morning, a total of 31 jihadists died in the battle, said the Syrian Observatory for Human Rights. Coalition air strikes near Kobane hit 20 IS fighting positions, five IS vehicles and two ISheld buildings, said Central Command, with the Observatory adding that they killed 15 jihadists. Clashes on the ground killed another 16 jihadists and seven Kurdish fighters, said the Britain-based Observatory, which has a wide network of sources inside Syria.

Bharatiya Janata Party(BJP) supporters celebrate outside the party’s office following state elections in Mumbai yesterday.

Egypt, Sudan to coordinate on Libya unrest

gyptian President AbdelFattah el-Sissi said yesterday his country will work with Sudan to support Libya’s military against Islamic militants in a bid to restore stability to the two countries’ war-torn neighbor. El-Sissi’s remarks came at the end of a two-day visit by Sudan’s President Omar alBashir. The chaos in Libya is a top foreign policy concern for Egypt, which has seen crossborder attacks by Islamic militants. Libya’s new government has accused Sudan of arming “terrorist groups” in Libya, a charge Khartoum denies. El-Sissi said Sudan and Egypt agreed to coordinate efforts to achieve stability in Libya through supporting state

institutions, primarily the military. Al-Bashir said his country “sees eye to eye” with Egypt on bilateral and regional issues. The two leaders said they want to move past recent strains in relations over divergent views over shared water resources and borders. A dam constructed by Ethiopia threatens to reduce Egypt’s share of the Nile, challenging a colonialera agreement that has given most of the water to Egypt and Sudan. Sudan is not against the dam, while Egypt has been lobbying to reduce the impact of the project on its share of the river. Egypt and Sudan have a border dispute that also dates back to colonial times. Ahead of his visit, al-Bashir raised the issue

of the “Halayeb Triangle” along the Egypt-Sudan border with reporters, saying his country won’t go to war over it but seeks to resolve the dispute. “I assert now, after this second meeting with my brother president el-Sissi, there is a strong political will for the bilateral relations to move forward,” al-Bashir said yesterday. This is his first visit to Egypt since el-Sissi came to office in June, following the ouster of Islamist President Mohammed Morsi in July 2013 amid popular protests demanding his resignation. Morsi was an ally of alBashir and his Islamist party. Al-Bashir has an international arrest warrant against him for war crimes in Sudan’s restive western Darfur region.

Street clashes erupt in Hong Kong despite imminent talks

iolent clashes erupted in Hong Kong early yesterday for a second night, deepening a sense of impasse between a government with limited options and a pro-democracy movement increasingly willing to confront police. The worst political crisis in Hong Kong since Britain handed the free-wheeling city back to China in 1997 entered its fourth week with no sign of a resolution despite talks scheduled on Tuesday between the government and student protest leaders. Beijing has signaled through Hong Kong’s leaders that it is not willing to reverse a decision in late August that effectively denies the financial hub the full democracy the protesters are demanding for an election in 2017. “Unless

there is some kind of breakthrough in two hours of talks on Tuesday, I’m worried we will see the standoff worsen and get violent,” Sonny Lo, a professor at the Hong Kong Institute of Education, told Reuters. “We could be entering a new and much more problematic stage. I hope the government has worked out some compromises, because things could get very difficult now.” Hong Kong’s Beijing-backed leader Leung Chun-ying, who has so far resisted calls to quit, said more time was needed to broker what he hoped would be a non-violent end to the upheaval. “To work out a solution, to put an end to this problem, we need time. We need time to talk to the people, particularly young students,” he told Hong Kong’s ATV Television. “What I want is to see a peaceful and a mean-

ingful end to this problem.” Hong Kong’s 28,000 strong police have been struggling to contain a youth-led movement that has shown little sign of waning after three weeks of standoffs. Roughly a thousand demonstrators in the Mong Kok district launched a fresh assault early yesterday, putting on helmets and goggles before surging forward to grab a line of metal barricades hemming them into a section of road. Scores of riot police had smashed batons at a wall of umbrellas that protesters raised to defend themselves. Amid shouts and hurled insults, violent scuffles erupted before police surged forward with shields, forcing the crowds back. One activist in a white T-shirt and goggles was hit with a flurry of baton blows, leaving him bleeding from a gash in the head. Several protesters were taken away.

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

International Football

Sports News

Fresh Revelation: Eagles’ problem more than Keshi

Record breaker Aguero hungry for more

14 Nigeria weightlifters for world championship

Sport S

If Congo can come here and score three goals, nothing stops us going to Congo to score three or more goals

uper Eagles interim coach, Shaibu Amodu, is confident that Nigeria’s flag will be hoisted at the 2015 Africa Cup of Nations as Nigerians continue to sharpen their proficiency in arithmetics and burden their calculators on how the team can qualify for the championship. In April 2001, then NFA sacked Dutchman Johannes Bonfrere with Nigeria’s 2002 FIFA World Cup qualifying ship in troubled waters. They brought in Amodu, with Stephen Keshi and Joe Erico as his assistants. They needed to win all of Nigeria’s last three matches of the campaign to be sure of a place in Korea/Japan.

Did you know? That Christian Pyagbara of Shark FC is the second player after Adamu Mohammed of Gombe Utd to score four goals in a game in the Glo Nigeria Professional Football League this season

Congo, South Africa beatable –Amodu lTargets 3-0 in Pointe Noire

Ever confident of his own ability, Amodu led the team to turn back Liberia 2-0 in Port Harcourt, hammer Sudan 4-0 in Omdurman and dismiss Ghana 3-0 in Port Harcourt to qualify for the World Cup. The present situation is no less daunting, but Amodu who is stepping into the saddle for his fifth stint with the Super Eagles is not ruffled. “If Congo can come here

and score three goals, nothing stops us from going to Congo to score three or more goals. We have done it before. We will do it again.” As a result of CAF’s regulation for the 2015 Africa Cup of Nations qualifiers, the Super Eagles need to score three goals in Brazzaville on November 15 and not concede more than one to steady their ship for Morocco. This is because they

lost 3-2 to the Congolese in Calabar on September 6, and should both teams finish on equal number of points, CAF will take into consideration the team that scored the most away goals in the fixture involving both teams. Once Nigeria hits three goals in Pointe Noire and does not concede more than one, all they need do is defeat South Africa in Uyo on November 19 to qualify for the final tournament.

AFCON QUALIFIERS: Ik Uche, Iheanacho on the cards

Ik Uche Iheanacho

Ifeanyi Ibeh

The Sport Team

Adekunle Salami l Deputy Editor, Sports Emmanuel Tobi l Assistant Editor, Sports

Ifeanyi Ibeh l Sports Correspondent

Ajibade Olusesan l Sports Correspondent

anchester City starlet, Kelechi Iheanacho, barring any injury concerns, will be called up to the Super Eagles ahead of next month’s 2015 Africa Cup of Nations qualifiers against Congo and South Africa. According to a New Telegraph source, who is a member of the recently constituted Tech-

nical a n d D eve l opment Committee of the Nigeria Football Federation, the highly rated teenager will b e given a chance to show what he is capable of producing at full international level, in line with the wishes of

most Nigerians, by the time Shuaibu Amodu releases his list for both games. “The football world has been speaking highly of this young man. Everyone saw what he was able to produce for Manchester City during preseason. I am sure that if not for work permit issues, he would have been playing for Manchester City or loaned out to another club in England,” said our source, who spoke on the condition of anonymity. Iheanacho is currently training with American Major League Soccer outfit, Sporting Kansas City, the US affiliate of his parent club, Manchester City, as he awaits a work permit. Reports in the foreign media however suggest that a number of European clubs are waiting for the next European transfer window to table bids to take the youngster on loan for the remainder of the season. “Maybe if he had been called up to the national team these past

few months he would have gotten a work permit because he is such an exceptional talent,” continued the official, who also informed New Telegraph that a number of players who were considered persona non grata by the team’s immediate past handler, Stephen Keshi, would be recalled to the Super Eagles. These include players such as Ikechukwu Uche, who has been frozen out of the Super Eagles since the end of the 2013 AFCON despite his consistent displays in the colours of his Spanish club, Villarreal, and Sunday Mba, who fell out with Keshi prior to the last World Cup, as well as Brown Ideye, who despite being unceremoniously dropped from the World Cup was able to secure a big summer transfer move to English Premier League side, West Brom, from Dynamo Kiev of Ukraine. Our source also disclosed that another former Dynamo Kiev player, Taye Taiwo, who has not played for the Super Eagles after falling out of favour with Keshi two years ago but has been consistent in the Turkish Super Lig, as well as current Dynamo Kiev midfielder, Lukman Haruna, who had been frozen out of the national team since the end of the 2010 World Cup, are also under consideration for a recall to the national team.

SPORT

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

Fresh revelation: Eagles’ problem more than Keshi lMikel, Emenike, Enyeama lead three camps

Ajibade Olusesan

A Mikel (left)

The task ahead is enormous – Salisu Charles Ogundiya

member of the newly appointed consortium of coaches for the Super Eagles, Salisu Yusuf, has stated that the task ahead of the team was enormous, but confident that the team could still qualify for the Africa Cup of Nations in Morocco next year. Speaking exclusively to New Telegraph, the former Enyimba coach said qualification was still very possible through dedication, hard work and God’s assistance. “The important thing on our mind now is the two remaining matches, we will also look at what happens in the remaining two matches involving the teams in our group and pray the results favour us. “I will however say we need to do our part by winning the remaining matches against Congo and South

Africa,” he said. Salisu who is the Technical Director of El-Kanemi Warriors of Maiduguri said: “Amodu was my coach as a player in ElKanemi Warriors, and I have great respect for him. He is a good coach and I’m sure we are going to be a great team together. “We know what Gbenga Ogunbote can do as a coach, same goes for Alloy Agu. We are going to be a great combination, and with Amodu as the head we can go a long way.”

Glo Week 34 results El-Kanemi 3-0 Nembe Lobi Stars 2-1 Abia Warriors Kaduna Utd 0-1 Enyimba Sharks 4-1 Sunshine Heartland 1-0 Warri Wolves Crown 0-3 Rangers Bayelsa Utd 3-0 FC Taraba Gombe Utd 1-1 Giwa Akwa Utd 2-1 Dolphins Nasarawa Utd 1-0 Kano Pillars

top Super Eagles player has revealed that the removal of Coach Stephen Keshi would not end the crisis in the team, saying the problem in the national team is more than what the public knows. The player who sought anonymity told our correspondent that Coach Shuaibu Amodu’s immediate responsibility would be to restore normalcy in the Super Eagles that has been deeply polarised by the animosity among senior players. The player who was in the starting line-up against Sudan in Abuja said that the crisis in the

team began shortly after the Nations Cup when members of the team started acting above the law. He said that some senior players were intimidating the younger ones but that some others had to stand up to resist that. “At the Nations Cup we were like one big family, we loved one another and we were ready to play like a team. But the trouble started shortly after the Nations Cup triumph when some players began to see themselves as the reason we won the tournament. They were acting as If they were more important than others and were intimidating some of us the younger players. “Now we have three camps in the team, Mikel Obi has his own camp, Emmanuel Emenike has

his own and Vincent Enyeama has his own too. Our captain tried to be neutral but it did not help matters. “The coach too did not help, he took sides with a particular group and this further caused disharmony in the team. Our coach is a very good man but the way he handled the crisis was not good enough. “Besides, another problem is that the national team has become like a military command system where you cannot air your views. Some people will go back to the coach and tell him what you did not say. There is serious backbiting and backstabbing in our team; these are some of the issues the new coach must address, otherwise we will not make any progress,” he said.

NSCDC wins national Table Tennis League

he Nigeria Security and Civil Defence Corps emerged as the overall champions in the men and women events of the Nigeria Table Tennis Federation national league held at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium in Lagos. The Kazeem Makanjuola-led NSCDC male team defeated Union Maritime 3-0 to be crowned the champion, while the Rashidat Ogundele-led female team rallied from behind to beat Union Bank Sports Club 3-2 to take the title. Also for their efforts in the one-week league, Makanjuola and Ogundele were named the most valuable players of the competition. For their feat the male team carted home N.4m, while the female team took away N.25m. Individually, Makanjuola and Ogundele were rewarded with N50,000 and N25,000 respectively for their perfor-

mance in the tournament. Also, two junior players – Abayomi Animashahun and Michael Obayomi- were given full sponsorship to attend the 2015 Egypt Cadet and Junior Open by Friends of Table Tennis. An elated ITTF blue badge umpire and referee of the tournament, John Peters, lauded all the participating teams for putting up good performance in the championship. “We are indeed thrilled by the performance of all the teams especially teams that took part in the grand finale. One thing that made this tournament distinct was that from the start of the championship, no team was sure of winning the competition,” Peters said.

Sports Festival: Oyo ready to create upset Charles Ogundiya

head of the National Sports Festival slated for Calabar later in the year, the Oyo State Sports Council has said the state would be the one to beat at the festival. Disclosing this to New Telegraph in Ibadan, the director of organisation of the council, Gboyega Makinde, said the athletes have been training since May 2013 and were ready to make the state proud. “His Excellency has made it easy for us by placing all our athletes on contract, so I can tell you that they have been training very hard since last year.

“All we need now is to get to camp and work on making them a winning team at the festival and I can assure you that we are going to camp soon,” he said. The University of Ibadan graduate further stated that the state would be looking forward to the special sports where they have so many talents that could win medals. He said: “Special sport will be our strong point in Calabar; we have athletes like Yakubu Adesokan and others that are not well known but who could spring surprises. We have some hidden talents that we are going to expose at the festival the way we did with Adesokan in the past.”

Archbishop Martins Cup enters quarterfinals

uarter finalists have emerged in the on-going Archbishop Alfred Adewale Martins football tournament for Catholic churches in the Lagos archdiocese. After the round robin group games at the respective venues, St Gabriel’s Catholic Church, Ladi-Lak and Ss Peter and Paul Catholic Church, Oke-Afa, emerged from group A, while St Joseph’s Catholic Church, Ipaja and Ss Peter and Paul Catholic Church, Tedi qualified from group B. Catholic Church of the Assumption, Falomo,

and St Joseph’s Catholic Church, Kirikiri Town, grabbed the tickets in group C, with Our Lady of Holy Rosary Catholic Church, Arida, and St Thomas Catholic Church, Onilekere, respectively qualifying from group D. The quarter finals will feature St Gabriel, LadiLak versus Ss Peter and Paul, Tedi, Church of the Assumption, Falomo against St Thomas, Onilekere, St Joseph, Ipaja confronting Ss Peter and Paul, Oke-Afa and Our Lady of Holy Rosary, Arida locking horns with St Joseph, Kirikiri Town.

NSSDC’s Oriyomi Shodiya

Guinness wants stronger partnership with new NFF Board

lArik keen to be official airline

he new Executive Committee of Nigeria Football Federation has hit the ground running in its determination to give assurance to current partners and woo more sponsors, with a visit to the corporate headquarters of Guinness Nigeria PLC and Arik Airline on Friday. The high –powered team led by NFF President, Mr. Amaju Pinnick, also included 1st Vice President, Mr. Seyi Akinwunmi, Chairman of the newly –constituted Marketing, Sponsorship and Television Advisory Committee, Mr. Emeka Inyama, NFF Marketing Consultant, Mr. Mike Itemuagbor and Director of Marketing, Mr. Adama Idris. Pinnick said, “We thank you for your huge support to the NFF, Nigeria football and the National Teams for so many years now. This is to

assure you that the new board wants to continue to partner with you and also to ensure that you gain maximum mileage from this partnership.” Responding, Guinness Managing Director, Mr. Seni Adetu, stressed that, “Guinness Nigeria PLC has remained a strong partner of the NFF and the National Teams over the years, in rain and sunshine. We have no regrets whatsoever. “I want to assure you that wherever there are grey areas, we will jointly sit down and look at them and address this in order to have an even stronger and better partnership.” The NFF team also visited the offices of leading Nigeria airline, ARIK where they met with the Public Relations and Communications Manager, Mr. Adebanji Ola.

SPORT | International football 53

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Record breaker Aguero hungry for more

ergio Aguero hopes there are plenty more goals to come after smashing four past Tottenham to become Manchester City’s record Premier League scorer. The Argentine netted all of City’s goals in their 4-1 defeat of Tottenham at the Etihad on Saturday to keep Manuel Pellegrini’s men second in the table. Aguero’s haul took him to 61 in the competition, three past Carlos Tevez’s mark of 58 for the club, with 85 in 132 City appearances overall. The 26-year-old forward admitted he was delighted to break his compatriot’s

record but said the most ing important thing on 13 was for the team to minutes Aguero get the win. with a crisp “I am very hapdrive past Hugo py to be part of Lloris and restored the history of this City’s advantage club and I hope from the penalty spot I can continue seven minutes later afscoring goals,” ter Spurs had equalised said Aguero. through Christian Erik“But the sen. most imHe had a penalty saved portant t h i n g in the second half before is City can win games with City were awarded a third, my goals. which he converted, and he “I was very happy with rounded off the scoring on my performance but the 75 minutes when he cut in most important thing is we from the right and powered got the three points.” a low left-footed strike past Aguero opened the scor- Lloris.

Mascherano calls for Barca focus

avier Mascherano has urged Barcelona to stay focused on Tuesday’s UEFA Champions Lea gue home clash with Ajax, despite obvious distractions. The Catalan giants can ill-afford another slip-up in Group F after a 3-2 loss a t Paris SaintG e r main last t i m e out. W i t h t h e season’s first Clasico coming just four days after the visit of the Eredivisie champions, coach

Klopp slams ‘pointless’ Dortmund

orussia Dortmund coach Jurgen Klopp said his side’s football was “pointless” after they fell to their fifth defeat of the season on Saturday. A 2-1 loss at Cologne plummeted the club into their “worst situation in years”, in the words of director of sport Michael Zorc, and Klopp did not beat about the bush either. “We played a kind of football which is absolutely pointless,” he said at the post-match press conference. “We misplaced so many passes in the first half and made simple mistakes which can be explained in a whole host of ways, but still should not be happening. “We’ve just got to face the music once again.” He added: “We just made it too easy for our opponents,” Klopp moaned. “We’ve got to

Gerrard ‘in shock’ after Reds snatch late win

iverpool captain Steven Gerrard was stunned as his side edged QPR 3-2 following a frantic finish at Loftus Road. The hosts dominated for an hour on Sunday, as Leroy Fer twice hit the crossbar and Charlie Austin and Sandro also went close. However, the deadlock was broken by Richard Dunne scoring his 10th Premier League own goal after quick thinking from Raheem Sterling and Glen Johnson at a free-kick. Eduardo Vargas levelled for

the hosts in the 87th minute, but that was only the start of the amazing late drama. Philippe Coutinho raced up the other end to score and then Vargas headed in his second equaliser, before the match was settled by another bizarre twist. Sterling sprinted in behind the QPR defence on the break and pulled a pass back in search of Mario Balotelli, only for Steven Caulker to turn the ball into his own net when trying to intercept. “I’m still in shock,” Gerrard told Sky Sports. “We

were very lucky and would have had no complaints if we’d come away with nothing. It was a very stop-start performance but what I will say is that we hung in there and got the win.” Sterling had endured a difficult week after coming under the spotlight for feeling tired while on international duty with England and he was just glad to get back to playing football. “We weren’t at our best but we hung in there to get the three points we didn’t deserve and that’s football,” added the 19-year-old winger.

Ribery hoping to regain form F

Ribery

ranck Ribery is feeling no ill-effects after playing his first game for Bayern Munich in over a month following a knee injury. The France winger came on as a second-half substitute as the Bundesliga champions thumped Werder Bremen 6-0 on Saturday. That appearance marked Ribery’s first for the Bavarians since he scored in the 2-0 win over Stuttgart last month. And the 31-year-old

is now looking to get back to his best after coming through 29 minutes against Bremen. “I felt good,” Ribery said. “Now I need to string together games to regain my rhythm and thus quickly reach my best level. “The fact that we can play every three days can be beneficial to me. “My knee is holding firm. Now I hope to really play, play and play.”

Mertesacker remains confident of title quest

erman defender Per Mertesacker is confident that Arsenal can fight their way back into the Premier League title race. Arsenal, who needed a stoppage-time equaliser from Danny Welbeck to secure a 2-2 draw with Hull City on Saturday, trail league leaders Chelsea by 11 points and are currently sixth in the table but Mertesacker believes that recent performances have been good enough to help build momentum. “We have to take the

responsibility for that, to have dropped points again, but what really makes me confident is the way that we play at the moment, because no matter what happens, we just carry on and have great potential, that just has to come out much more,” said Mertesacker. “We started really well and put the pressure on them, did a great job to score that opener and were really confident to keep on going like that, but they came back all of Mertesacker a sudden.

L u i s E n r i q u e h a s a l re a dy war ned his players ag ainst taking their eye of f the ball in midweek. T h o s e s e n t i m e n t s we r e echoed by Mascherano as the versatile Argentina inter national set his sights on success in Europe, with domestic ambitions on the back bur ner for now. “The most important game is always the next one,” he told the club’s official website. “If you win [the next game], that changes the next one. “We need to win ag ainst Ajax and go into the next game [Clasico] with confidence.”

Mourinho hails Oscar’s ‘evolution’

eradicate these mistakes. Not tomorrow, not the day after but straight away. “We are almost always scoring goals and if we didn’t concede any, then the situation would look completely different. We’ve got to resolve this and nobody’s going to help us.”

RESULTS Premier League QPR 2 – 3 Liverpool Stoke 2 – 1 Swansea Man City 4 – 1 Tottenham Arsenal 2 – 2 Hull Burnley 1 – 3 West Ham C/Palace 1 – 2 Chelsea Everton 3 – 0 Aston Villa Newcastle 1 – 0 Leicester S’ampton 8 – 0 S’derland

Serie A Roma 3 – 0 Chievo Sassuolo 1 – 1 Juventus Verona 1 – 3 AC Milan Fiorentina 0 – 2 Lazio Atalanta 1 – 0 Parma Cagliari 2 – 2 Sampdoria Palermo 2 – 1 Cesena Torino 1 – 0 Udinese

La Liga Atl. Madrid 2 – 0 Espanyol Levante 0 – 5 Real Madrid Ath. Bilbao 1 – 1 Celta Vigo Barcelona 3 – 0 Eibar Cordoba 1 – 2 Malaga

Oscar

ose Mourinho says Chelsea midfielder Oscar has ‘evolved’ into a player capable of controlling matches such as the one at Crystal Palace on Saturday. The Brazilian scored an excellent free-kick after six minutes to put Chelsea on their way to a 2-1 win at Selhurst Park that was their seventh victory in eight Premier League games. It was a different type of midfield performance to the ones with which Oscar made his name last season before the Blues’ title challenge tailed off towards the end of the campaign. Mourinho now does not regard Oscar as simply a playmaker, and says his game is improving all the time. “Oscar, in this moment, is not a number 10,” the Blues boss said. “He had an evolution, a mental, tactical evolution that allows him to be a fantastic player. Can he physically improve? Of course. People forget that he is still so young.”

ENGLISH PREMIER LEAGUE Team P GD 1. Chelsea 8 15 2. Man City 8 10 3. S’ampton 8 14 4. West Ham 8 4 5. Liverpool 8 1 6. Man United 7 3

Pts 22 17 16 13 13 11

7. Arsenal 8. Swansea 9. Tottenham 10. Stoke 11. Hull 12. Aston Villa 13. Everton 14. Leicester 15. West Brom 16. C/Palace 17. Sunderland 18. Newcastle 19. Burnley 20. QPR

11 11 11 11 10 10 9 9 8 8 8 7 4 4

8 8 8 8 8 8 8 8 7 8 8 8 8 8

2 1 -1 -1 0 -8 0 -2 -1 -3 -7 -6 -9 -12

SPORT

MONDAY, OCTOBER 20, 2014 NEW TELEGRAPH

14 Nigerian weightlifters for world championship Emmanuel Tobi

he International Weightlifting Federation has confirmed eight female and six male Nigerian weightlifters for the World Weightlifting Championship billed to run from November 4-16 in Almaty, Kazakhstan. The all-important championship which is a Rio 2016 Olympic qualifier is attracting over 500 weightlifters from different parts of

the world. to George Aluo, a board member of Nigeria Weightlifting Federation, however expressed worries over the inability of NWF to call lifters to camp barely three weeks to the championship which is the most important event on the IWF calendar. According to Aluo, “It’s unfortunate we are not in camp yet less than three weeks to the world championship. In spite of this setback, our

lifters are ever ready to do the country proud. They did it in Glasgow at the 2014 Commonwealth Games and they are battle ready for Kazakhstan. This is one competition where we can’t afford to fail because if we do, then we won’t be able to be part of the weightlifting event of Rio 2016 Olympics. And as we all know, weightlifting is one sport where Nigeria has very strong medal potentials if only our lifters are encouraged.”

Omeruo, Oboabona must improve –Taribo

ormer Nigeria international Taribo West has criticised Super Eagles centre-backs Kenneth Omeruo and Godfrey Oboabona for their performance in the Africa Cup of Nations qualifiers. The pair were caught ball-watching in both of Sudan’s goals in the recent backto-back encounters, with Nigeria losing the first leg away and winning the return match when they hosted.

“The Eagles impressed me (during their 3-1 win over Sudan), but our defence was suspect and Omeruo and Oboabona played like amateur defenders,” West told hereisthecity.com. “They are good defenders but they were too relaxed and made the same mistakes over and over again. We have conceded goals in the same way in the qualifiers. “Sudan’s goal in Nigeria’s 3-1 win was similar to the

one against us in the first leg in Kartoum. They only did well against South Africa, although they made some mistakes. “I think they need competition. We need to scout for new central defenders. I would have suggested that they should be dropped, but we don’t have better replacements for them now. But we should work on improving their weaknesses.”

Lagos to host 2014 Glo-CAF award

he Confederation of African Football has announced that the 2014 Globacom-CAF awards will be once again be hosted in Lagos, Nigeria. This will be the third time the Nigerian city will be hosting the event after last year and 2008. The ceremony will take place on Thursday, January 8, 2015 with anticipation high on

who will claim the prestigious Player of the Year award last won by Manchester City midfielder Yaya Toure. A statement on the CAF website confirmed the awards up for grabs on the night as follows: Player of the Year, Player of The Year - Based in Africa, National Team of the Year, Club of the Year, Referee of

the Year, Coach of the Year, Most Promising Talent and Women’s National Team of the Year. Others categories are: Women’s Player of the Year, African Legend, CAF Fair Play award, Youth Player of the Year and Platinum Award. Nominees for the different awards will be announced at a later stage.

Mariam Usman in action for Nigeria

Matthaus, Jens Keller eye Eagles job lNFF opens contact with Gullit

he race to coach the Super Eagles has become very interesting as Germany World Cup legend Lothar Matthäus and Jens Keller have signified interest to lead Nigeria. For the past three years, Matthäus has been in the unemployment market after severing ties with the Bulgaria national team, whom he handled for 12 months, from September 23, 2010 to September 19, 2011. On the other hand, Jens Keller is searching for a new employer after he was relieved of his duties earlier this month at Bundesliga side Schalke 04. Both high profile coaches have given their word that they will send in their applications to officials at the Nigeria Football Federation before the end of this week. Meanwhile, the Nigeria Football Federation has initiated moves to sound out former Dutch coach Ruud Gullit as the country’s new coach.

According to AfricanFootball. com, “The Nigeria contacts in Europe are first to sound out Gullit whether he will be open to handle the Super Eagles and if he would be available,” a top source told AfricanFootball.com “It will be only after this contact that other considerations like the duration of the contract and the personal terms of Gullit will be tabled.” The 52-year-old Gullit who once coached English Premier League clubs Chelsea and Newcastle United as well as Dutch side Feyenoord and Los Angeles Galaxy in the MLS, last coached Russian club Terek Grozny in 2011. He has most recently worked as a TV pundit for SuperSport and BBC.

Gullit

EAGLES ROUND-UP

Musa, Ogbeche, Ighalo on fire

Musa

Stories:AjibadeOlusesan

hree days after helping Nigeria to a 3-1 win over Sudan in AFCON qualifiers with two goals, Ahmed Musa, bagged another brace for his club, CSKA Moscow, as they walloped Kuban Krasnodar 6-0 on Saturday. Musa opened the scoring for the Russian champions in the 13th minute to put them 1-0 ahead and completed his brace with a 70th minute

strike to give the army team a 4-0 lead. He then assisted Seydou Doumbia for the fifth goal in the 85th minute. He has now taken his goal tally to five in the Russian league. Erstwhile Super Eagles striker, Bartholomew Ogbeche, is proving to be one of the African hottest strikers in Europe as he scored his sixth goal in nine games in his Dutch side Cambuur’s 2-2 draw at Heerenveen on Sunday. Still,inNetherlands,AbiolaDauda also took his tally to five when he scored in Vitesse Arnhe’s 4-1 thrashing of Willem II. Odion Ighalo was also on song for English Championship side, Watford, as he scored the team’s opening goal in their 3-0 win at Sheffield Wednesday. He scored in the 21st minute of the encounter. Former Flying Eagles striker Solomon Owello scored the only goal as his side, IK Start, lost 2-1 to Leke James’s Aalesund. James also registered his name on score sheet as he got the opening goal for the hosts.

Enyeama’s poor form continues

incent Enyeama endured a forgettable afternoon on Saturday as he conceded two goals as his club, Lille lost 2-1 at home in their Ligue 1 fixture against Giungamp. The Nigerian goalkeeper who went 1l matches without conceding a goal last season has suffered a dip in

form recently as he has now conceded seven goals in just three matches for Lille. Similarly, Emmanuel Emenike extended his goal drought after he failed to score before he was substituted in the 61 minute as Fenerbahce lost 2-1 in the Istanbul derby against Galatasaray on Saturday.

John Mikel Obi did not feature for Chelsea as they won 2-1 at Crystal Palace just as Sone Aluko was left on the bench in Hull City’s 2-2 draw at Arsenal. Kenneth Omeruo was surprisingly omitted from Middlebrough squad that claimed a 2-1 win at Brighton and Hove Albion on Saturday.

to Stoke’s first goal of the game. The visitors took the lead at the Britannia Stadium with a spot-kick, with Wilfried Bony converting from 12 yards after being manhandled inside the box by Ryan Shawcross. But just before the break, Moses theatrically went down when

challenged by Angel Rangel and Referee Michael Oliver gave a penalty that was converted by Charlie Adam. In Italy, Ogenyi Onazi played a part in Lazio’s 2-0 win at Fiorentina on Sunday. The Nigerian midfielder was introduced in the 58th minute to play his fourth match of the season.

Moses shines for Stoke City

ictor Moses played a controversial role in Stoke City’s 2-1 win over visiting Swansea as he made a return to the Potters’ starting line up after shrugging off injury. The winger had been out of action since October 4, but he was installed as a starter in the game against the Welsh side and he was instrumental

NEW TELEGRAPH MONDAY, OCTOBER 20, 2014

Sanctity of Truth

On Marble

A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do. – Bob Dylan

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

MONDAY, OCTOBER 20, 2014

World Record

N150

Donna Simpson holds the dubious honour of being the Guinness Book of Records’ fattest woman ever to give birth, requiring a team of 30 medics to deliver her daughter during a high-risk Caesarean birth.

One step towards victory

he good news is that a ceasefire has been announced between the Federal Government and Boko Haram and the girls may well be released very soon. This came as a consequence of the fact that the Nigerian military finally managed to acquire the weapons that they so badly needed to fight Boko Haram and, having done so, they were able to bring the terrorists to their knees. My counsel has always been that the Federal Government ought to crush Boko Haram utterly, beat them to a pulp in the field of battle, force them into retreat, decimate their defences, eliminate their leaders, bring them to justice and, after all that has been achieved, the terrorists would have no choice but to come begging through their numerous friends and surrogates. This is precisely what seems to be happening today and I wish that the Jonathan administration had set this process of “getting tough” with the terrorists as far back as three years ago. If they had done so many lives would have been saved. Yet, as they say, it is better late than never and I am delighted with the latest developments and our apparent string of successes and victories in the war against terror. It appears that Nigeria has survived yet another civil war and that those that sought to turn us into a sixth century caliphate, ISIL-style Islamic state have failed in their insane, ignoble and thoroughly evil endeavour. The official military wing of the opposition have lost the war, they have been put to shame and Nigeria has prevailed. Next year, when the presidential and gubernatorial elections are held, their political wing, the All Progressives Congress (APC), will also lose woefully and finally meet their waterloo. This state of affairs and unfolding set of events provides telling evidence of the veracity of the biblical assertion and age-old spiritual truism that says “darkness cannot overcome light.” In Nigeria, the light is breaking through and the darkness is on the retreat. The servants of satan and their misguided minions, emissaries, associates and political allies are crawling on their knees. They have tugged their tail between their legs and they are on the run whilst the sons and daughters of the Living God are on the rise and are witnessing a new beginning and resounding victories. The night was dark and full of horrors yet joy, saddled with God’s unfathomable mercies and blessings, came in the morning. We prayed for peace, we yearned for victory, we cried for mercy and in the end the Ancient of Days, the Lord God of Hosts, the El Shaddai, the Elohim, the Adonai and He that is known as the Man of War answered our prayers. He has done His bit by breaking the ranks of the terrorists and now it is left for us to

Crossfire FEMI FANI-KAYODE ffk2011@aol.com

Abducted Chibok girls

Jonathan

Shekau

do ours. My prayer is that Boko Haram honours the terms of the ceasefire agree-

ment, that they cease all hostilities, that they stop killing our people, that they drop their arms and surrender and that they release our girls and all the other prisoners of war that are in their custody. If that happens, and I pray that it does, it will not be simply as a consequence of the efforts of the worldwide “BringBackOurGirlsCampaign” but as a direct consequence of the prayers of the Nigerian people and the supplications of millions of others throughout the world. It will also be as a consequence of the efforts of President Goodluck Jonathan, his National Security Adviser, our intelligence agencies and the Nigerian Armed Forces.

Now is the time for us to heal our wounds, to forgive one another, to preach peace and unity and to put the evil behind us

Our nation defeated the Ebola virus even though our detractors never thought we could do so and now we are on the brink of defeating Boko Haram even if our foreign friends and partners put obstacles in our way and refused to sell us arms. For this we must give thanks to God. Now is the time for us to heal our wounds, to forgive one another, to preach peace and unity and to put the evil behind us. Now is the time to put the past behind us, to put our hands to the plough and to build a great nation. Now is the time to ask God to bless Nigeria and to shame all those that collaborated with the enemy, that joined forces with the demons of hell and that shed the blood and tormented the souls of our people. The declaration of the ceasefire is indeed a thing of joy but that in itself is not victory: it is only one step towards achieving it. Given this I cannot help but to be swayed by the words of Mr. Nnamdi Egbudi when he wrote the following on my facebook page. He said: ‘’Reaching a ceasefire agreement with a terrorist group that killed thousands of Nigerians and slit the throats of our military personnel is not my own definition of victory neither is exchanging the abducted Chibok schoolgirls with terrorist commanders anything to be proud of. For me, the terrorists with all their commanders should be exterminated from the face of the earth as there are no half measures in the quest for peace and security of a nation.” I am compelled to agree with this young man’s insightful assertion. Nevertheless the fact that a ceasefire is now in place is cause for cheer. They say that a journey of one thousand miles starts with one step. With this ceasefire in place, we have just taken that first step. May God see us through to the end of the journey and may all those that killed our people at will, terrorised our nation, abducted our children, raped our women and maimed our men be brought to a terrible end. Permit me to conclude this contribution by pointing out what I would describe as an instructive sequence of events. General Muhammadu Buhari, the leading APC presidential aspirant, the man that wishes to ‘’spread sharia law to the south’’ and the man who once said that ‘’an attack on Boko Haram is an attack on the north’’ declared his presidential ambition on Wednesday, bought his nomination form on Thursday and Boko Haram, the terrorist organisation that he has consistently sought to protect and that he has often expressed some sympathy for, entered into a ceasefire agreement with the Federal Government on Friday. Is this interesting sequence of events a mere coincidence or is there more to it than meets the eye? I guess that only God knows the answer to that question but whichever way we view it we can all agree on at least one thing: the plot seems to thicken by the day. God bless Nigeria.

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotline: 01-8541248, Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: YEMI AJAYI.