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Monday, November 3, 2014

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Vol. 1 No. 258

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Meet CEOs of Nigeria’s advertising agencies

n any economy, you could glimpse the relevance of any sector by its sheer impact on the wellbeing of other businesses. Although a few sectors

that exert such enormous influence could be cited, but there’s hardly any one that commands the sort of indispensability that the advertising industry

flaunts In simpler terms, a company’s bottom line is inevitably tied to the ability of the advertising agency that oversees its marketing

communications profile to create for it a cutting edge campaign which could help such company gain an ample slice of the market.

So the era - like the 60s and 70s - when the few advertising agencies that existed then were mere fringe players in the country’s economic life, is long gone.

In its place has emerged a bustling industry with turnover figures that are just as impressive as those posted by the blue chips CONTINUED ON PAGE 7

Reps draw dagger over Tambuwal }3 lPDP moves to oust speaker lPlots to reconvene House this week

Quick Read Editorial

Time to address power crisis }19 Dangote cuts cement price to }7 N1,000 Amosun, Bankole, Akinlade, others battle for the soul }14 of Ogun

L-R: Wife of President, Dayspring Christian Ministries International, Rev. Mae Olowojoba; mother of the church’s president, Mrs. Aiyetutu Olowojoba; and the church’s president, Bishop Charles Jimoh Olowojoba and former Abia State Governor, Dr. Orji Uzor Kalu, during the consecration of the bishop in Abuja...at the weekend. PHOTO: TIMOTHY IKUOMENISAN

Skye Bank completes payment for Mainstreet acquisition

kye Bank Plc has completed payment for the acquisition of100 per cent shares of Mainstreet Bank from the Asset Management

Corporation of Nigeria (AMCON). The bank, in a statement yesterday, said the last tranche of the money for Mainstreet Bank acqui-

sition was paid to AMCON last Friday, ahead of the November 3 deadline. “The 80 per cent balance payment was made to AMCON in fulfilment of the

Share Sale and Purchase Agreement earlier signed by both AMCON and Skye Bank,” the statement said. Skye Bank had on OctoCONTINUED ON PAGE 7

ber 9 paid the mandatory deposit of 20 per cent for the acquisition of Mainstreet Bank, with a pledge to complete the 80 per cent balance payment within

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

News

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Reps draw dagger over Speaker Tambuwal Ayodele Ojo

he presidency and the Peoples Democratic Party (PDP) will today launch coordinated attacks to remove House of Representatives Speaker, Hon. Aminu Tambuwal, following his defection to the All Progressives Congress (APC). A source told New Telegraph that the House will reconvene either tomorrow or Wednesday in a bid

to oust the speaker who, on defecting last Tuesday, had adjourned plenary till December 3. According to the House Rules, one-third of the members, representing 120 of the 360 membership of the House, is required to reconvene the House. The PDP, with about 200 lawmakers in the House, is optimistic that it will be able to get the signatures of the required lawmakers to reconvene the House earlier.

As part of the plots to remove the speaker, the PDP leadership is meeting party members in the House today at 3p.m. in Abuja to give a seal to the plan. The APC lawmakers are also holding their meeting at 8p.m. for a counter-offensive. “We are going to meet tomorrow (Monday). By then we’ll sign those papers and Tuesday or Wednesday is going to be the shortest time, because

we have no time to waste. We have to put an end to this business; the whole of our political interest as a people is at stake. It behoves on us to address some of these challenges and very embarrassing scenario that we find ourselves. Nothing can stop our plan to reconvene on Tuesday or Wednesday,” a top party official, privy to the plot, told New Telegraph yesterday. It was learnt that the presidency had directed

security agencies to provide adequate cover for the PDP lawmakers to reconvene and remove Tambuwal. “Adequate security will be provided to ward off any insurrection from the opposition lawmakers,” the source added. A PDP lawmaker confirmed the plot, saying there is no going back on reconvening the House. He said: “Definitely, that one is not negotiable. The House is reconven-

L-R: Chief Executive, Forte Oil Plc, Mr. Femi Otedola; Director General, National Pension Commission, Mrs. Chinelo Anohu-Amazu and President, Dangote Group, Alhaji Aliko Dangote, at the 10th anniversary of pension reform, in Lagos…at the weekend. PHOTO: SULEIMAN HUSAINI

Shell loses $146m to insecurity, divestment Yusuf Shuaib Abuja

oyal Dutch Shell has lost $146 million to insecurity in Nigeria and from the impact of its divestment across the globe, among others, in the third quarter of 2014. Shell, in its third quarter 2014 financial statement released to the investing community at the weekend, said it was, however, expecting $15 billion from its monies in the Niger Delta region. Shell recorded oil and gas production of 2.79 million barrels of oil equivalent per day in the third quarter of 2014, representing a 4.81 per cent decline from 2.93 million barrels per day recorded in the third quarter of 2013 and a decline of 9.33 per cent from 3.077 million barrels per day recorded in the second quarter of 2014.

According to the financial statement, Shell’s liquids production reduced by four per cent, while natural gas production diminished by six per cent, compared with the third quarter of 2013. “Excluding the impact of divestments just as Abu Dhabi licence expired, PSC price effects, and security impacts in Nigeria, third quarter 2014 production were two per cent higher than same period previous year. “Underlying production was driven by increased high-margin liquids production in America, including the impact of substantially lower downtime, partly offset by higher downtime elsewhere,” the statement said. The company explained it recorded first production from the Bonga NorthWest deep-water development while oil from the

Bonga North-West subsea services is transported by a new undersea pipeline to the existing Bonga floating production, storage and offloading (FPSO) export facility. “Bonga FPSO has been upgraded to handle the additional oil flow from Bonga North-West which, at peak production, is expected to contribute 40,000 barrels of oil equivalent per day. “Shell announced the final investment decision on the Bonga Main phase three project offshore Nigeria. The development is expected to contribute some 40,000 barrels of oil equivalent per day production through the existing Bonga FPSO export facility,” the company said. Shell’s third quarter 2014 earnings, on a current cost of supplies (CCS) basis were $5.3 billion compared with $4.2 billion for the same quarter in 2013,

while third quarter 2014 CCS earnings, excluding identified items, were $5.8 billion, compared with $4.5 billion for the third quarter 2013, representing an increase of 31 per cent. Compared with the third quarter 2013, the company said CCS earnings excluding identified items benefitted from improved downstream and upstream results. It said: “In downstream, earnings benefited from increased contributions from refining, including improved operating performance, and trading. “In upstream, earnings increased due to the impact of new, highermargin production, lower exploration expenses, and higher earnings from integrated gas, despite the effect of lower oil prices and volumes overall. “The increase of a deferred tax liability as a result of the weakening

Australian dollar reduced earnings by some $400 million compared with the third quarter 2013.” Commenting on the company’s financial statement, Chief Executive Officer, Royal Dutch Shell, said: “Shell is proud to deliver high-quality fuels, lubricants and petrochemicals, for transportation, power generation and manufacturing industries. With over 90,000 employees in more than 70 countries around the world, Shell is dedicated to delivering low-cost, safe and reliable energy for our customers. “The recent decline in oil prices is part of the volatility in our industry. It underlines the importance of our drive to get a tighter grip on performance management, keep a tight hold on costs and spending, and improve the balance between growth and returns.”

ing. We have a moral justification to prove to the whole world that we are lawmakers, and, at the end of the day, we made some mistakes in actually going on that long period of recess, because the budget session is going to be before us. The bill has not been discussed, and these are issues that are quite important for national development. So, we will reconvene and, in the process, manage the situation effectively.” On what happens if Tambuwal fails to attend the session, the source said: “If he doesn’t come, he (Tambuwal) is still going. The issue is very straightforward. If he doesn’t come, that means indirectly he must have removed himself, but I think whether we like it or not, this is a foreclosed matter, he is as good as gone.” It was learnt that whenever the House reconvened, a motion for Tambuwal’s removal would be tabled by a lawmaker from the North. The plan, according to sources, will also consume the Deputy Speaker, Hon. Emeka Ihedioha. “A speaker-designate is already in place,” the source said, saying a Northern lawmaker had been picked to serve as speaker pro tempore before the election of Tambuwal’s successor to be. The source, who declined to name who the party had settled for to succeed Tambuwal, however, ruled out either Ihedioha or House Leader, Hon. Mulikat Adeola-Akande, whom the party had, in 2011, tipped for the speakership, zoned to the SouthWest, before rebellious PDP lawmakers, with the aid of their opposition colleagues, subverted the party’s zoning system by electing the speaker, who is from North-West. He said Adeola-Akande was not being considered for the speakership, adding: “How can Mulikat be the speaker? She cannot get it. We are talking of issue of capacity. She won’t be able to do the job.” On the fate of Ihedioha, the lawmaker said: “Let’s take it step by step. I believe immediately we finish with the Tambuwal issue, I don’t think Ihedioha will be the speaker, but there is a speaker we will be able to pick among ourselves.” New Telegraph learnt that the race to succeed Tambuwal had pitted the South-West, which is fighting to regain the position, against the North-West, seeking to complete the speaker’s tenure. It was learnt that toCONTINUED ON PAGE 5

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

News

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Declare state of emergency in education sector, varsity unions tell FG Sola Adeyemo Ibadan

he Academic Staff Union of Universities (ASUU) and three other unions in the Nigerian universities have asked the Federal Government to declare a state of emergency in the education sector. The unions also called for the re-conceptualisation of the Nigerian education sector in a manner capable of performing its transformative functions for individuals, groups and the nation at large. The unions have vowed

to develop and present to the Federal Government a new education policy (Charter), which will reflect the aspirations, culture, values and realities of the Nigerian people within the context of a dynamic world. According to the unions, “The current educational system is characterised by chronic underfunding, bad leadership, and infrastructural decay, poor conditions of learning and service, promotion of mediocrity, shortage of personnel (academic, technical and administrative) and entrenchment of ortho-

doxy, parochialism and chauvinism.” These remarks were contained in a communiqué jointly signed by the president of the four unions – ASUU, National Association of Academic Technologists (NAAT), Non-academic Staff Union of Universities and Associated Institutions (NASU) and Senior Staff Association of Nigerian Universities (SSANU) at the end of one-week National Education Summit held in Abuja. The four unions, which jointly held the summit with a theme: “Towards a System of Education for

Liberation in Nigeria,” warned the Federal Government not to use public funds such as Tertiary Education Trust Fund (TETFund), Petroleum Trust Development Fund (PTDF) among others to fund private educational institutions and associated enterprises. It condemned corruption, lack of professionalism, poor and opportunistic leadership, and unethical conducts that impinge on learning environment and the integrity of teaching and research, while calling on its members nationwide to rid the sector of these ills.

L-R: Speaker, House of Representatives, Hon. Aminu Tanbuwwal; former Osun State Governor, Prince Olagunsoye Oyinlola and his successor, Mr. Rauf Aregbesola, during a victory colloquium for the governor in Lagos…at the weekend

Dangote cuts cement price to N1,000 Dele Alao

n a move that will raise the stakes in the rapidly evolving Nigerian cement market, a leading cement manufacturer, Dangote Cement Plc, has slashed the price of the essential product. The company has pegged the Dangote 32.5 cement grade at N1,000 per 50 kg bag, while the higher 42.5 grade is to sell for N1,150 per bag. The new prices exclusive of the Value Added Tax (VAT), represents about 40 per cent discount on the prevailing market price of the product, which is currently sold nationwide for N1,700 irrespective of the grade. The new price regime, according to the Group

Managing Director of Dangote Cement, Mr. Devakumar Edwin, in a statement, will make cement cheaper than it has ever been since 2005. Edwin said the move was in line with the company’s commitment to the nation’s dire need for the development of infrastructure and to boost the federal and state governments’ ongoing effort to reduce the near 20 million housing deficit in the country. He said: “We recognise the need for an increase rapid response to the huge infrastructure and housing deficit in the country, and one of the ways of addressing the issue is bringing the price of building materials down to much more affordable level, especially cement, which is within

our own control as part of our own contribution to the transformation agenda of the Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals (MDGs).” Since the commencement of the implementation of the backward integration policy for cement in the country over 12 years ago, the local production capacity of the product rose from less than three million metric tonnes per annum to about 38 million metric tonnes per annum. During the over 12year period of the backward integration policy, nearly $20 billion has been directly and indirectly injected into the cement industry with Dangote Cement Plc ac-

counting for 60 per cent of the money. Meanwhile, the timing of the initiative has confounded industry watchers, who say that from experience, the cement market is on the verge of entering the accelerated demand phase as the raining season is tapering and the dry season which provides the opportunity for increased construction and building activities is setting in. The National President of Block Moulders Association of Nigeria, Alhaji Rasidi Adebowale, said he received the news with much happiness as it would have positive effect on his members. He expressed the hope that the new price review will translate to reduction in the price of blocks.

Moves to oust speaker begin CONTINUED FROM PAGE 3

day’s meeting between PDP and its lawmakers, to be presided over by the National Chairman of the PDP, Alhaji Adamu Mu’azu, would resolve the succession tussle and the fate of Ihedioha. The meeting will also consider the demand of PDP lawmakers for automatic tickets as a precondition to support the moves to remove Tambuwal. “The lawmakers also insisted that they won’t sign for the House to be reconvened until the issue of their tickets are sorted out by the party,” a lawmaker said. One of the lawmakers said they would table a demand before the party’s leadership at the meeting before their support could be elicited. “Many members of the House have lost out in their respective states. As it is, majority of us are not returning to the House in 2015. So, at the meeting, we will demand guaranteed return tickets from the party leadership before we can be part of the plot to remove Tambuwal. “Already, the state governors have positioned their allies to take over our seats. So, what is the need of being part of the plot to remove Tambuwal when the governors have rubbished us by denying us the return tickets,” the lawmaker stated. Today’s PDP meeting, it was learnt, is for the party leadership to direct the lawmakers to begin the process to remove Tambuwal. Shedding more light on the plot against Tambuwal, a presidency official told New Telegraph that the party’s interest was in protecting its majority status in the House. “We are not interested in removing Tambuwal from the House as a member, but we want to retrieve the speakership of the House from him. We can’t be a majority and be in minority,” the source said. The source said President Goodluck Jonathan had directed Mu’azu to meet with the PDP lawmakers and fine-tune strategies to oust Tambuwal. A member of the PDP National Working Committee (PDP) said the party leadership had also concluded that Tambuwal must be removed by all means, saying the process has begun in earnest. He said: “There is no moral justification for Tambuwal to even be on that seat at the moment, you will agree with me. The subject matter is going to be for him to resign. You cannot be a presiding officer; a referee who is being partial in a scenario where a political party in which you have been with for about three-and-a-half years, and from nowhere

within two hours, just after crossing into the other political party, you start castigating it, with all forms of abuses. “In a scenario of that nature, there is no way you can sit down and preside over government bills and other things because you are not going to be fair in your judgment. So, the time has come for him really as a lawmaker to go; let him go and face his politics; because he left because of a scenario that is in his local Sokoto State, on the basis of which he claims. “But he deviated and started playing national politics, not just ending there, but calling some people corrupt, and you are part and parcel of this government that you are saying is corrupt. “The issue has gone so wild and I believe the best thing for him now is to go, and I believe that is going to be the position of the members.” On the demand by lawmakers for automatic tickets before supporting Tambuwal’s ouster, a PDP NWC member admitted that the issue is on the card. “There is no correlation between those two things. Those are the things we are going to discuss but it has nothing to do with the Tambuwal issue. The Tambuwal issue is anchored purely on morality,” he said. Besides the plan to remove Tambuwal, it was also learnt that the presidency was considering setting the anti-graft agencies on him. A source in the presidency told New Telegraph that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) would be compelled to look into the books of the House to see any breach of the rules. “The anti-graft agencies will launch a discreet probe of the House books. If Tambuwal is found to have compromised the standard, corrupt charges will be brought against him in the court. Don’t forget that he does not enjoy immunity but privileges. This will also ease his removal from office,” the source said. Meanwhile, the buddy relationship between Tambuwal and Ihedioha is being ruptured by the plot. The presidency is pushing Ihedioha to be on the side of the PDP and lead the plot to remove Tambuwal with a promise to give him the Imo State governorship ticket. There are some lawmakers working on the possibility of Ihedioha succeeding Tambuwal “if he acted as a party man to remove the speaker.” CONTINUED ON PAGE 7

News

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

350 children feared missing in Mubi attack lMilitary deploys more Special Forces, fighter jets to rout Boko Haram Ibrahim Abdul and Emmanuel Onani

o fewer than 350 children are feared missing following the commotion that greeted the annexation of Mubi, Adamawa State, by Boko Haram. As at the time the insurgents attacked the town last Wednesday, many children were said to be in schools and were feared missing in the attendant melee as people scampered to safety to avoid being hit by stray bullets. A distraught displaced woman, Hajiya Mairo Abdullahi, was seen at the weekend holding the picture of her seven-year-old son whom she said she had not seen since the attack. “Since morning, I have been going from one street to another asking people whether they have seen Farouk, my last child. “I have been making calls since the day he got missing, but up till now I could not hear any positive response,” she said. Another mother, Na’omi Bitrus, said she

could not locate three of her two children since the insurgents struck. “They are still missing as I am talking to you, nobody knows their whereabouts,’’ she said. Similarly, Mr. Solomon Kabila said about eight of his children were yet to be found. “When the insurgents struck in Mubi, my wife called to inform me that she and the children were in the midst of the insurgents who were firing gunshots sporadically and im-

mediately, the line went off. “Since then, I could neither communicate with her nor any of the children. “My life has no more value as I could not even eat because whenever I tried to put anything into my mouth, the thought that my little children may be starving in the bush always made me cringe with exasperation,” he said. Another victim, who told reporters that he had lost contact with his three wives and 15 children said

his life had been shattered by the development. “I tried without luck to get across to them, I reached my contacts in Cameroun and Yola without success. Right now, I don’t know whether they are alive or dead,” he said. Many children were similarly stranded in Yola as they said they could not locate their parents. One of such children, who was seen wandering the streets of Yola, identified himself as Sulaiman. He said he hailed from

Uba town and fled when the insurgents attacked his home, killed his father, two brothers and abducted his mother and her sister. “When the insurgents entered our compound, they slaughtered my father, killed my two brothers, and abducted my mother and her sister. “I escaped from the house through the fence and ran into the bush and since then I had been walking till I reached this place,” Sulaiman stated. CONTINUED ON PAGE 7

ABUJA

18o C 14oC Rain Showers

PORT HARCOURT

23o C 18oC Storms

KANO

36oC

19oC

Mostly Sunny

ENUGU

22o C 18oC Rain Showers

IBADAN

22o C 17oC Rain Showers

CALABAR

28o C 22oC Storms

MAIDUGURI

ONITSHA

38oC 21oC Sunny

22oC

11oC

Partially Cloudy

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

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

18o C 13oC Rain Showers

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

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

TODAY’S WEATHER FORECAST LAGOS

FLIGHT SCHEDULE

L-R: Managing Director, Bank of Industry (BoI), Mr. Rasheed Olaoluwa; Executive Director, Large Scale Enterprise, BoI, Alhaji Mohammed Alkali; General Manager, Large Scale Enterprise, BoI, Mr. Joseph Babatunde and Managing Director, Innoson Industries Ltd, Mr. Innocent Chukwuma, during a visit of the bank’s officials to the company in Enugu…at the weekend.

2014 budget implementation on track, says Okogu

he Director-General, Budget Office of the Federation, Dr. Bright Okogu, has said that the implementation of the 2014 budget is on the right track. Okogu said this in an interview with the News Agency of Nigeria (NAN) yesterday in Abuja. Okogu said: “We are on target; we are paying and meeting all of the obligations of government. Salaries are being paid which is usually the first area that you generally will look out for as a government. “We are also doing our usual with servicing our debt. Again, these are things you need to do as a sovereign nation; it’s something you can’t simply ignore. “That one is being done and we are very much up to date. The transfers to the National Assembly, Judiciary, Niger Delta Development Commission (NDDC) and Universal Basic Education Commission (UBEC);

by current laws, they are required to have special amounts transferred to them and we are doing all of those.” On the capital aspects of the 2014 budget, Okogu said that although it was not yet 100 per cent but a lot of money had been released to different Ministries, Departments and Agencies (MDAs) to do their work. He said N210 billion was released in the first quarter, N200 billion in the second quarter while another N200 billion was released for the third quarter to all MDAs to do their work. “The money released in the third quarter is being cash backed and we have already done a N100 billion and the rest of it is being cash backed as we go forward,” he said. Okogu said that the Federal Government had been consistent in releasing money for the progress of the Subsidy Re-investment and Empowerment Pro-

gramme (SURE-P). “SURE-P has N268 billion in the 2014 budget; the money is being released at the moment to the various MDAs that are benefiting from that. And I need to tell you that the utilisation so far out of the N268 billion is roughly N160 billion. Some new claims have come which we are finalising. “To that extent, you can easily say that the budget is being implemented.” Okogu said that the government was working to improve an alternate source of funding since oil revenue had become undependable due to the fall of crude oil prices at the international market. “One of the areas that has not been well publicised is the non-oil drive. We have set a new target for the Federal Inland Revenue Services (FIRS), working with the McKinsey group, an international consulting firm. “They were given a target of half a billion dollars

which translates to about N75 to N80 billion and as at July, they had done more than N44 billion as extra over and above what FIRS would normally collect. “So we are very optimistic that before or by the end of the year, they must have met the target or even surpassed it.” Okogu said that he was aware that a lot of MDAs were complaining of inadequate funding and urged them to be patient. According to him, it is a fact that some MDAS are not getting what they should receive. “When you are doing budget implementation, you look at the seasonality aspect, agriculture needs to be funded more during certain seasons. The same thing with Ministry of Works, Niger Delta Affairs and Federal Capital Territory (FCT) because these ones have to do with a lot of construction activities during the dry season,” he said.

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

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Reps to probe WAEC, CBN, AMCON over unaudited accounts Philip Nyam Abuja

he House of Representatives’ Committee on Public Accounts has concluded arrangements to investigate the West African Examination Council (WAEC) for the non-submission of its unaudited accounts for 2011, 2012 and 2013 to the Office of the AuditorGeneral of the Federation (AGF). Also to be investigated is the Central Bank of Nigeria (CBN), Asset Management Corporation of Nigeria (AMCON), Bank of Industry (BoI), Abuja Environmental Protection Board (AEPB), and Consumer Protection Council (CPC) for failing to present their audited accounts to the AGF office for two

years and beyond. Chairman of the committee, Hon. Solomon Olamilekan (APC, Lagos), who disclosed this at the weekend, said the investigation was necessitated by the audit queries from the AGF. He said the investigation is on the non-remittance of the internally generated revenue of WAEC from its inception to the federation account. The amount in question, according to the committee, runs into billions. According to him, the committee will also probe the contracts and other expenditure of the Council within the period under review, “to ensure accountability and transparency in the management of public fund.” He said: “The attitudinal behaviour you (WAEC)

have exhibited over the years does not portray the kind of institution Nigerians expect of WAEC. Is it the monumental fraud, or lack of records, or financial improprieties that have taken place in the institution?

“I was not taken aback when I found your name on that list (Auditor- General’s). I was not surprised. It is expected. “Sir, if you know the amount of fraud accruing to WAEC day in day out; year in year out. And all

WAEC can tell Nigerians is that they only submitted their audited account up to 2010. Our insistence made them rush down with 2011 and 2012 while 2013 is still awaiting the signature of the Council. “I know that a whole lot

of activities including contracts are being awarded by WAEC. We want to know how much is generated by the sale of forms and how much subventions is paid to the headquarters in Accra as well as other expenditures.”

House to reconvene this week CONTINUED FROM PAGE 5

But the PDP leadership and presidency are opposed to this idea. It was learnt that at a meeting at the State House last week, presided over by the president and attended by House members and the PDP leadership, Ihedioha was chided for not doing enough for the party. New Telegraph learnt that Chairman, PDP Governors’ Forum and Akwa Ibom State helmsman, Chief Godswill Akpabio, confronted Ihedioha and accused him of not doing enough to protect the party’s interest in the House and for allowing the smooth defection of Tambuwal. Ihedioha was said to have countered Akpabio, challenging him to state what he has done, as chairman of the PDP Governors’ Forum, for party members of the House. Mu’azu had to calm Akpabio and Ihedioha when tempers rose in the presence of Jonathan. However, the House, in a statement yesterday, faulted moves by the PDP to unilaterally reconvene the legislature.

Chairman, House Media and Publicity, Hon. Zakari Mohammed, said the House had adjourned sitting to allow members carry out pre-budget oversight in preparations for the 2015 budget and also to meet the political calendar of all the political parties. He added that the adjournment was unanimously approved by all the principal officers of the House and it would require the consent of all parties to reconvene the House. “The procedure for reconvening or reassembling of the House is contained in the House Standing Orders made pursuant to Section 60 of the 1999 Constitution of the Federal Republic of Nigeria, which empowers the House to regulate its own procedure, including the procedure for Summoning and Recess of the House. “This means that the leaders of all the political parties in the House, especially the majority and minority leaders respectively must consent before the representation is made to the speaker who has a discretion to agree or not,” he stated.

Meet CEOs of Nigeria’s advertising agencies CONTINUED FROM PAGE 1

they manage. With the economy getting even more robust and fuelling much stiffer competition, the importance of advertising agencies grows inevitably. From its marginal position of the bygone era, the industry has today grown into the mainstream and the proof is evident in the several advertising budgets they

control on behalf of multinationals, banks and other businesses with healthy balance sheets. New Telegraph, starting from this edition, launches a series that looks at the chief executive officers in this industry that helps turn companies into iconic brands. Their compelling tale will surely be a pleasant revelation. Details on pages 37-40

Senior Special Assistant to the President on Public Affairs, Dr Doyin Okupe (left) and Minister of Transport, Senator Idris Umar, at a forum organised by the Office of the Senior Special Assistant to the President on Public Affairs in Abuja…at the weekend.

Skye Bank completes payment for Mainstreet acquisition CONTINUED FROM PAGE 1

the agreed time frame. AMCON had announced Skye Bank as the preferred bidder for the acquisition of all its interest in Mainstreet Bank, representing the entire capital of the bridged bank. Skye Bank emerged the preferred bidder after a rigorous bidding ex-

ercise that spanned five months, with over 20 bidders contending. With the final payment, Skye Bank Plc has moved from a mid-tier to a tierone bank. Skye Bank emerged from the successful merger and integration of five banks in 2006, following the first phase

of the banking industry consolidation. The bank, according to the statement, said it “intends to leverage its wealth of experience from the successful integration of five banks to drive efficiency, increase market share and ultimately ramp up stakeholders’ value from the acquisition of Main-

street Bank.” Besides, Skye Bank said the acquisition would avail it many of benefits, including cost leadership, business optimisation, and greater ability to offer business convenience to customers, with a combined branch network of over 450, across all the states of the Federation.

350 children feared missing in Mubi attack CONTINUED FROM PAGE 6

However, the people of Adamawa State yesterday sought divine intervention to end the Boko Haram siege on their towns and the North-East. At a prayer session in Yola, Imam Abubakar Hussaini, who led the prayer, urged Muslims to remain calm and prayerful. “You should not be intimidated and don’t allow anyone to force you to flee your homes. “We must be united and have the firm belief that with God on our side, we have nothing to fear,” Hussaini said. Also speaking, Ustaz Adam Usman cautioned against rumour mongering and urged those contemplating running away from Yola, because of fear of an impending Boko Haram attack, to have a change of mind.

Similarly, Christians during the Sunday service, prayed for the return of peace to the country. The state branch chairman of Christian Association of Nigeria (CAN), Rev Fr Moses Taparki, said special prayers had been on since the insurgency started and would be sustained. Meanwhile, the military has stepped up air raids on towns under Boko Haram control in a bid to dislodge the insurgents. It was gathered that fierce fighting has continued in the area, with the military deploying Special Forces, fighter jets and helicopter gunships to reverse the loss of territory. A military source told New Telegraph yesterday that additional reinforcement of ground troops, backed by air force jets, was ongoing in the area

and its surroundings. The source described Boko Haram’s control of Mubi as an affront to the Chief of Defence Staff (CDS), Air Chief Alex Badeh, who is from the area. He said: “How can you talk about any (ceasefire) agreement, when these terrorists have continued to kill innocent civilians in those parts of the Nigerian territory? “I told you before, that the military will not fold their arms, because there is a ceasefire, and let the terrorists continue with these killings. “Right now, we are deploying more special forces, the kinds that have repelled several attempts on Maiduguri and Konduga, to Mubi and other towns, to reverse this trend and restore order to the place. “As I speak to you now, the intensity of bombard-

ment in Mubi is such that within a few days, we will retake the town and others; not an inch of the Nigerian territory will be ceded to terrorist elements. “As at today (yesterday), the situation report we got from the field, was that our men are pushing them out of Mubi.” “While the fighter jets and helicopter gunships decimate their holds, through aerial bombardment, ground troops will capture the wounded, in an organised mop-up operation, and clear the areas for the return of the civilian population.” The source accused “the political authority” of putting pressure on the CDS to announce the ceasefire deal, regretting that the development may have erroneously made the public feel that the military was tired of fighting.

News

ultimatum

Group proposes to down tools over unresolved issues with government Wole Shadare

ith effect from today, air traffic controllers, under the aegis of the Nigerian Air Traffic Controllers’ Association (NATCA) has issued a 21-day ultimatum to the management of the Nigerian Airspace Management Agency (NAMA) to resolve all pending issues regarding their demands. The group, in a communiqué jointly signed by President and General Secretary of NATCA, Victor Eyaru and Banji Olawode respectively, issued at the end of its 43rd annual general meeting/ conference held in Kano State at the weekend, further demanded that all outstanding, unresolved and/or pending issues regarding Air Traffic Controllers’ remuneration, professional allowances and promotion/advancement in NAMA should be attended to within 21 days with effect from November 3, 2014. The threat by NATCA

national

monday, november 3, 2014 NEW TELEGRAPH

Air controllers set to ground aviation, issue strike threat to go on strike to press for their demands is usually taken seriously by NAMA because the controllers have the capacity to ground flight operations nationwide because of the sensitive services they provide. Additionally, the controllers requested for the review of the allowances of their members working at the Nigeria College of Aviation Technology (NCAT), Zaria, stressing that it has been waiting for approval at the National Salaries, Income and Wages Commission since 2010. They prayed that the allowances be released for implementation within the same time frame; failure of which they threatened would make the group to be left with no other option than to act within legitimate means recognized by labour law to press home these demands. They equally vowed to resist alleged plan by NAMA management to appoint non-air traffic controller as Airspace Manager at Mallam Aminu Kano Internation-

al Airport, Kano, describing it as absurd and unacceptable to the generality of Air Traffic Controllers. “In addition, NATCA demands that the headship of all stations be reverted to Air Traffic Controllers”. The duo lauded the efforts of NCAT at improving on its training facilities such as virtual tower and radar simulators. It however opposed the deployment of the radar simulators outright for the training of ATCOs in radar control until the equipment has been deployed to carry out radar refresher courses to allow for proper appraisal of both the equipment and manpower. “Consequent upon this, the training of terminal and Area radar should be allowed to continue at other ICAO recognized training institutions outside the country to avoid worsening the already critical manpower situation”. NATCA said it is in support of the plans by the Federal Government to float a national carrier,

saying the association fully identifies with the calls for speedy action in the establishment of the project for the most populous nation in Africa to fur-

Tambuwal debunks rumoured arrest Philip Nyam Abuja

he office of the Speaker of the House of Representatives, Hon. Aminu Waziri Tambuwal, has described as untrue the rumoured arrest of the speaker. Stories were rife at the weekend that the Speaker, who dumped the ruling Peoples Democratic Party (PDP) may have been arrested by the police. But denying the story in a telephone chat with New Telegraph, the Special Adviser to the Speaker on Media and Public Affairs, Mallam Imam Imam said the story was just the orchestrated plot to weaken and bring to disrepute the office of the speaker.

ADDENDUM TO THE PUBLICATION IN THE NIGERIAN TRIBUNE (PAGE 7), VANGUARD NEWS PAPER (PAGE 33) AND FEDERAL TENDERS JOURNAL (PAGE 2) OF MONDAY, SEPTEMBER 22, 2014 UNDER FAAN 2014 FGN BUDGET IN RESPECT OF: Lot A1

- Murtala Muhammed International Airport (MMIA), Lagos – Height increase to a portion of the existing reinforced concrete perimeter fence wall.

Lot A2

- Height increase to the existing block-wall fence around the new Protocol Lounge / Personnel building including the provision of toilet/bathroom facilities for airside security access gate and construction of ground equipment parking lot at Murtala Muhammed International Airport (MMIA), Lagos.

Lot A3

- Complete remarking of the airfield pavement for (Domestic and International) at Murtala Muhammed International Airport (MMIA), Lagos.

Lot A4

- Construction of hard stand for the disable aircrafts at General Aviation Terminal (GAT), Lagos.

Lot B1

- Improvement to the airstrip Runway End Safety Area (RESA) at Nnamdi Azikwe International Airport (NAIA), Abuja.

Lot C

- Port Harcourt International Airport (PHIA), Port Harcourt – Restoration of the sewage treatment plant.

FEDERAL AIRPORTS AUTHORITY OF NIGERIA THIS ADDENDUM IS MADE AS FOLLOWS: THE DATE FOR THE OPENNING OF BID DOCUMENTS FOR ABOVE PROPOSED PROJECTS HAS BEEN POSTPONED TILL

MONDAY, NOVEMBER 17TH, 2014 AT 12 NOON AT THE COMMERCIAL CONFERENCE ROOM, FAAN HEADQUARTERS – LAGOS SIGNED

MA N AG E M E N T

He said Tambuwal was not surprised by sponsored stories like this, which were aimed at distracting him from delivering on the legislative agenda, the roadmap for responsive and responsible legislative Meanwhile, the Senator representing Rivers South East Senatorial District, Magnus Abe, has said that the plot by the Peoples Democratic Party (PDP) to impeach Tambuwal, for defecting to the All Progressives Congress (APC) violates the constitution. Abe said that Tambuwal cannot be impeached except the 240 members of the House of Representatives agree that he should be removed, and that any thing other than that is an attempt to throw the country into confusion.

Yusuf Shuaib Abuja

he Federal Government has said it has created over one million direct and indirect new jobs from the resuscitation of rail transportation by the President Goodluck Jonathan administration in the last four years. Minister of Transport Senator Idris Umar disclosed this while speaking on the sidelines of Public affairs forum, a programme organized by the Office of the Senior Special Assistant to the President on Public Affairs in Abuja. Also, a Former minister of Aviation, Chief Femi Fani Kayode has argued that there will be no change of government in 2015, following the excellent performance of President Goodluck Jonathan led-administration. “He has gotten it right; he is on the right track as best president”.

APC demands independent inquiry on Boko Haram ceasefire

Ajasin varsity to honour Falae, Osemawe, Awe, others

Johnchuks Onuanyim

Kayode Olanrewaju

Abuja

FEDERAL AIRPORTS AUTHORITY OF NIGERIA

ther boost her economy by reducing capital flight, provide more jobs in the sector and gives Nigeria a befitting identity in global air transport.

FG created one million jobs in transport sector — Minister

he All Progressives Congress (APC) is demanding an independent inquiry to unravel the circumstances surrounding the failed ceasefire between the Federal Government and Boko Haram sect. Federal Government had on October 17 announced ceasefire agreement with the Boko Haram, but the leader of the group, Abubakar Shekau at the weekend announced that there was no deal with the Federal Government. Chief of Defence Staff, Air Marshal Alex Badeh announced the ceasefire agreement. In a statement issued by the APC National Publicity Secretary, Alhaji Lai Mohammed, the party said Nigerians will like to know how the Jonathan administration got swindled by an impostor, who the major players were and what the government plans to do to address what has now become a monumental national and international embarrassment. “President Goodluck Jonathan owes Nigerians an explanation on what has now turned to be an unprecedented global faux pas. Engaging in cheap damage control by insisting on the genuineness of the deal will only amount to taking Nige-

rians for a ride,” it said. APC said the saddest part of what has now turned out to be a fake deal is that it gave false hopes to the parents of the 218 schoolgirls who remain in Boko Haram captivity that their children’s release was imminent, especially as the government even announced a specific date for the release of the girls. “Now the parents and indeed all Nigerians have been victimized for the umpteenth time by the same government that has failed in its main reason for existence, which is the security and welfare of the citizenry,” the party said. It wondered whether the government sought to buy time and gain political mileage by knowingly negotiating with a man who has no authority to do so on behalf of Boko Haram, as claimed by the sect’s leadership. “The ceasefire deal with Boko Haram was announced at the highest level of the military and supported by the political authority on October 17. Now that it has been described as a fluke, there is every indication that the Jonathan administration was swindled by someone masquerading as a Boko Haram negotiator, while the administration itself went ahead to fool Nigerians as well as the international community.”

he paramount ruler of Ondo Kingdom, Oba Victor Adesimbo Kiladejo, Jillo III, the Osemawe of Ondo; former Finance Minister and the Olu of Ilu-Abo in Akureland, Chief Samuel Olu Falae; and a Professor of History, Professor (Mrs.) Bolanle Awe, are distinguished Nigerians that will be conferred with the honorary doctorate degrees (Honoris Causa) of the Adekunle Ajasin University, Akungba-Akoko (AAUA), Ondo State. The trio will be conferred with the awards at the fifth graduation ceremony of the university, billed for November 7. In a statement by the university Registrar and Secretary to the Governing Council, Mr. Bamidele Olotu, Falae, will be conferred with Doctor of Public Administration (D.P.A.) in recognition of his commitment to national development both as a technocrat and a politician; while Oba Kiladejo will be decorated with Doctor of Science (D.Sc.) for his commitment to health care development, distinctive leadership qualities and his efforts at developing and transforming the society.

NEW TELEGRAPH monday, november 3, 2014

News

national

Tambuwal: Buhari group accuses IG of double standard double standard

Ondo Assembly Speaker left LP for PDP and is enjoying protection

Babatope Okeowo Akure

he furore generated by the withdrawal of the security personnel

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attached to the Speaker of House of Representatives, Hon. Aminu Tambuwal is yet to abate. The Ondo State chapter of Buhari Campaign Organization has accused the Nigerian Police of double standard in the implementation of the law. The Coordinator of the Campaign Organization, Mr Bola Ilori, also described the action of the Inspector General of Police as a foretaste of

The number of pending asylum seekers from Namibia at the beginning of 2010. Source: Blatantworld.com

danger ahead of the 2015 elections and the threat police could pose to democracy and continued existence of Nigeria as a united country. Ilori said if the Police could withdraw the security personnel attached to Tambuwal, who is a number four citizen in the country, it should also withdraw that of the Speaker of the State House of Assembly, Mrs Jumoke Akindele, who defected from Labour

The life expectancy (in years) at birth of men in Hong Kong, China in 2010-2015. Source: Un.org

Party (LP) to Peoples Democratic Party (PDP). Ilori, in a statement after holding a strategic meeting of the organization in Akure, the state capital, said the Buhari group holds that it is not only a breach of the constitution of the Federal Republic of Nigeria but also as an act of impunity, targeted towards the opposition and a show of naked power by the Goodluck Jonathan administration ahead of

28.52

The average age of Portugal team in Brazil 2014 World Cup. Source: Telegraph.co.uk

the 2015 general elections. The group maintained that the Nigerian Police is a creation of the constitution and belongs to the Nigerian people irrespective of party affiliation and not part of the PDP; hence should not behave in a way that shows partiality and disrespect for democratic virtues. Ilori noted with dismay the clear double standard being adopted by the Nigerian Police in

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The sex ratio of women to 100 men (international migrants) in Montenegro in 2010. Source: Un.org

treating similar issues. His words: “This act of withdrawing the security details of the House of Reps Speaker without a court order is proof that the Nigerian police under the current Inspector General sees the force as the armed wing of the PDP. “One wonders why the police had to adopt a different approach when a high ranking official like the fourth citizen of Nigeria defected from PDP to APC.” It stated that if the speaker of the House of Representatives should be treated so shabbily while a mere Speaker of a House of Assembly is being protected just because of party affiliation, one wonders what will happen to an ordinary Nigeria in the opposition party in 2015.

Shekarau in Ogun for NCE summit Kunle Olayeni, Mojeed Alabi Abeokuta

L-R: Chairman, Sub Committee, Mediation Rules Launch, International Chambers of Commerce Nigeria (ICCN), Chief Anthony Idigbe; Vice Chairman, Mrs. Dorothy Ufot; Hon. Justice Efunkumbi Oyefeso of Lagos State High Court and Mr. Sami Houerbi of ICC Headquarters, Paris, during the Nigeria launch of ICC Mediation rules in Lagos…at the weekend. PHOTO: GODWIN IREKHE

UPP to field South East Presidential candidate Johnchuks Onuanyim Abuja

he United Peoples Party, (UPP’s) candidate for next year’s presidential election would emerge from the South East geopolitical zone. The party’s National Chairman, Chief Chekwas Okorie, who stated that the party will hold its national convention this week in Abuja, revealed that UPP will compulsorily field a presidential candidate from the South East. The party chairman condemned some political parties that came out with election guidelines and cost of nomination forms before holding National Executive Committee meeting. According to him, if the NEC of the party is so strong, it could set

aside the decision of the National working Committee or few individuals that brought out the guidelines. Giving example of such political party, Okorie said: “If you watch what APGA did, you will see that they published the nomination fees and gave a deadline which will end on the Novemver. 4 and stated that their NEC would meet on the 3rd. It doesn’t make sense. You ask people to come and pay money and on the eve of the closure, you now convey a NEC meeting and they might not approve the guidelines”. The UPP national chairman stated that his party is following the Independent National Electoral Commission’s guideline and would not be late in the submission of candidates.

Three APGA chieftains die in crash Yekeen Nurudeen Abuja

he Integrity Group, an arm of the All Progressives Grand Alliance (APGA) has expressed shock and sadness over the death of three members of the party from Imo State in a motor accident while returning from Abuja. According to a statement issued in Abuja yesterday by the Pub-

licity Secretary of the group, Martin Kalu, the three Imo State chapter officials, Mr. Tony Mgbeahurike, the State Publicity Secretary; Mr. Obinna Ibe and Mr. Uche Okeke died in the crash at Uromi, Edo State, while the State Organizing Secretary, Chief John Iwuala sustained injuries and lying critically in a hospital. The statement said the deceased had accompanied one of the party’s

gubernatorial aspirants, Okey Eze to obtain his Expression of Interest and nomination forms at APGA National Secretariat, Abuja. It described the death of the three politicians as a big blow to APGA and the nation’s democracy, noting that they were shining stars of progressive politics in Imo State and strongly determined to rescue the state from the cabal that has held it hostage.

Shell budgets N2bn for centenary projects hell said it will imple- Media Relations Man- brary and health projS ment three projects ager, ects exclusively, and worth nearly N2 billion to Precious Okolobo, funding 30 per cent of mark Nigeria’s 100 years of existence. The Anglo-Dutch oil giant also said that it identifies with the aspirations of the largest Black African country on the attainment of 100 years of modern nationhood. According to a statement by the Corporate

the projects include a 200-seater library in Port Harcourt, Rivers State, a health project at Oloibiri, Bayelsa State and upgrade of athletics infrastructure in five secondary schools in Delta State. The statement further said that Shell is implementing the li-

the cost of the athletics infrastructure upgrade through its share in the Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture, with the other partners, NNPC, Total and ENI providing the rest of the funding for this project.

inister of Education, Mallam Ibrahim Shekarau, and state commissioners for education across the federation are billed to participate in the 60th National Council on Education (NCE) meeting which kicks off today in Abeokuta, the Ogun State capital. Meanwhile, almost four months after his assumption of office, Shekarau will this week visit Federal Government owned education institutions including the Yaba College of Technology, Yaba; University of Lagos, UNILAG, Akoka; Federal College of Education, Technical, Akoka, among others. The week-long meeting, which opens at the Valley View Auditorium, Government House, Abeokuta, is set to review issues bordering on school curriculum, out-of-school children, funding and other fundamental matters in the education sector. Governor Ibikunle Amosun is scheduled to officially declare open the meeting, with the theme: “Access and equity: Imperative to national development.” Speaking with reporters ahead of the summit, the Ogun State Commissioner for Education, Science and Technology, Segun Odubela, said arrangements had been made by the state government for a hitch-free meeting.

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Metro 22-year-old girl stabs alleged rapist to death John Edu

omicide detectives attached to the State Criminal Investigations Department (SCID), Panti, Yaba, Lagos, have arrested a lady who reportedly stabbed an alleged rapist to death. The suspect, Efoma Okechukwu, 22, residing at 11 Enaoro Street, New Road, Lekki/Ajah, Lagos, said she killed the suspected assailant in self-defence. According to her, the victim threatened to shoot her with an unseen gun if she did not succumb to his sexual demands. The man, whose identity the police were yet to establish, was killed about 12:30pm on October 20, at the suspect’s residence. The case seems to be complicated since nobody is corroborating or denying the suspect’s story. The only other witness in the murder case was the deceased. Police said that a condom, money and clothes were all the items recovered from the deceased. Narrating how the victim was killed, Okechukwu said: “I was going out to get a sanitary pad, when the man, whom I had never met before, approached me. He said I should take him to my house without any justifiable reason. “He threatened he would strangle me to death if I didn’t

obey him. He had a gun which he pretended to bring out of his pocket when I tried to question him. But because I was scared, I cooperated with him. I took him to my uncle’s apartment. I live with my uncle and his family.” Okechukwu said that on getting to the house, the man asked her to pull off her clothes and lay flat on the ground. She begged him not to have any sexual intercourse with her, but the man allegedly refused to listen. She added: “I was boiling water on the gas-cooker in the kitchen, which I wanted to use for cooking noodles. I begged him to allow me to go and put off the gas. He didn’t argue with me. I entered and noticed there was a wrapper on the floor of the kitchen. I also noticed an iron rod, which I took and concealed it in the wrapper. “I switched off the gascooker. I heard his footsteps and noticed he was coming. He was still in pant, but wearing a condom. I rushed to catch up with him. Before he knew what was happening, I hit the rod on his head. “He fell to the ground and was screaming. He attempted to grab me. I had to hit him again until he started bleeding profusely. He lost consciousness. “I quickly made a call to my uncle, telling him what had just happened. He said he would be becoming with

policemen, that I should keep calm. But before my uncle came with the policemen, the rapist was dead.” The suspect denied deliberately killing the man. She also said that she had been in Lagos for the past five

years and did not have anything to do with anybody aside her uncle and his family. Okechukwu said that security guards attached to the estate, where she stays, said the alleged rapist did not come through the main gate into

the estate. They added that the deceased may have gained entrance into the estate via another route, not manned by security guards. Police are still investigating the matter.

Okechukwu

Lagos seals 39 illegal drugstores Appolonia Adeyemi

fficials of the Lagos State Task Force on Counterfeit, Fake Drugs and Unwholesome Processed Foods have sealed about 39 illegal drugstores. The outlets are in Alapere,

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

Magodo and Ikosi-Isheri in Kosofe Local Government and Ikosi-Isheri Local Council Development Area. The Special Adviser to the governor on Public Health, Dr Yewande Adeshina, who disclosed this over the weekend, explained that government’s resolve to streamline the activities of operators in the drug sector was borne out of its zeal to stop the inherent dangers associated with the peddling of fake, substandard and expired drugs by unauthorised and unregistered drug and pharmaceutical outlets. “In furtherance of government’s commitment to rid the state of the menace of illegal drug store operators, we cannot fold our arms and do nothing in respect of the excesses of these illegal

drug store operators. “That is why we will not relent in our drive to sanitise the drug distribution system in Lagos, hence the mandate of the Task Force on Counterfeit, Fake Drugs and Unwholesome Processed Foods,” Adeshina was quoted as saying in a statement issued by the Public Relations Officer, Ministry of Health, Mr Tubosun Ogunbanwo. According to the special adviser, the provisions of the law as stipulated by the Phar macists Council of Nigeria Act of 1992 and the Registration of Pharmaceutical Premises Regulation Law of 2005 outline the requirements for the registration and renewal of pharmaceutical premises, culpability and punishment

for offenders. She said: “The provision of the pharmaceutical laws stipulates that pharmaceutical premises cannot be located in motor parks and environment where commercial activities take place like market places, kiosks, roadside stores and containers. The law also frowns at pharmaceutical stores standing and growing very close together.” Adeshina listed the sealed drug stores to include Viewland Pharmaceutical Limited at No 5, Palace Street, Ogudu; Goodhealth Supermarket at No 13, Agboyi Road, Ogudu; E. Emodobi Patent Medicine Store at No 15, Old Olowora Street, Isheri; Max Supermarket and Medicine Store at No 23, Agboyi road, Ogudu; Sadus

Pharmacy at No 51, Olowora Road, Ogudu; Festina Pharmacy Limited at No 2, Ogun River Road, Isheri; Celens Pharmacy at Isheri Market Plaza and Spacon Healthcare at No 19, Ogudu Road. Others are Tolex Pharmaceutical Limited at No 44, Ikosi Road, Ketu; Amexco Pharmacy at No 1, Ikosi Road, Ketu; Igba Stores at No 11, Oluyombo Street, Ikosi; Mr Kelechi Store at No 10 Odun Street, Ikosi; Ademola Ologunagba at No 31, Oluwalogbon Street, Ikosi; Benkeson Pharmaceutical at No 16, Anibaba Street, Ikosi; Danest Stores at No 17, Jimoh Balogun Street, Ikosi; Patent Medicine Store at No 6, Dairo Street, Ikosi and two unnamed stores at 73, Oluyombo and 35, Jimoh Balogun streets.

Metro 11

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Farmers, butchers get N10.5m machines, 100 cattle Muritala Ayinla

F Olatunji

The late Obiagulum

ish farmers and butchers in Lagos State received multi-million naira worth of fish processing machines and 100 cattle from the Lagos State Government. The items were distributed to the beneficiaries as part of efforts to meet the 25 per cent food production target in the state. A total of 117 residents, who specialise in fish production, were given 20 bags of fish feeds each to boost their productivity while 35 processing machines were also presented to cooperative groups as well as individuals who specialise in food processing and production. Some of the beneficiaries expressed joy over the gesture, saying it would help in alleviating poverty and raise their living standard. Mrs Omotayo Atoba, a beneficiary of fish processing machine, said that fish processed by regulated processing machines did not contain some of the dangerous substances common in the smoked fish usually sold in parts of the state.

The late Kerry

Customs officer, daughter’s murder: Police seize herbalist’s property Taiwo Jimoh

olice in Lagos State have Lagos State have confiscated belongings of Alhaji Olatunji Azees, who allegedly murdered a 64-year-old retired Customs officer, Angela Uzo Kery, and her 10-year-old daughter, Obiagulum, at Wadoye Street, Pipeline, Ajuwon in Ifo Local Government Area of Ogun State. It was gathered that policemen attached to the Special Anti-Robbery Squad (SARS) stormed the community recently, with two trucks and carted away every item inside Azees’ house. A resident of the street, who craved anonymity, told our correspondent that operatives of SARS came to the herbalist’s house and took away his belongings. He said: “I was resting in my bedroom when my wife came to tell me that policeman were in the community again. I came out to find out what their mission was. They went inside the herbalist’s building with trucks and locked the gate.

“I waited outside my house to see what they wanted to do with the two trucks. But they came out with the man’s belongings.” Another resident, who identified himself simply as John, said he was afraid when he saw the fully armed policemen. He said: “The policemen carted away his chairs, television set, refrigerator, generating set, mattresses and clothes. Others were different charms and local pots with different inscriptions on them.” Some people in the area, however, said the murder of the Customs officer and her adopted daughter was still having a negative impact on their businesses. Mr Philip Mathew, the manager of Osas Hotel, said since the incident, the hotel had been recording low patronage. He said: “We have lost many of our customers since the murder of the retired Customs officer and her daughter in the herbalist’s house. “Before the incident, we

had a lot of patronage. But immediately after the incident, the number of people who come to the hotel dropped drastically. “However, we try to persuade the few who still patronise us. We always try to make them to know that the incident did not occur in our hotel.” Susan, Kery’s sister, visited the house of the deceased on May 31 but discovered that she and her daughter had not returned home since May 10 when they said they were going for a prayer session at Sango area of Ogun State. The suspect was later arrested with two alleged accomplices by policemen from Oko Oba Police Division after the matter was reported there. During interrogation, Azeez confessed that he killed Kery and her daughter and buried them in his house at No 9, Wadoye Street because the victim was pressuring him to return her money. The decomposing bodies of the victims were later exhumed from a 30-metre well Azees purposely dug for the burial.

Obey, Wale Oke, others in Ogbomoso for revival

vangelist Ebenezer Obey, Bishop Francis Wale Oke of Christ Life Church, Ibadan, Evangelist Bola Are, and Evangelist Bisi Alawiye, among other anointed men and women of God will from today converge on Ogbomoso for a seven-day revival. The revival, which will end on Sunday, is hosted by Christ Zion Prayer Ministry, a.k.a. Aaye Ni Jesu Wa, with the theme: “Goodness and Mercy Shall Follow Me,” at Fountain Area, Oke-Anu, Ogbomoso, Oyo State. Pastor Mark Debo Taiwo said in a statement issued on behalf of the host ministers, Sakin & Funmi Akinloye,

that several other notable men and women of God would be at the revival to minister to the spiritual needs of the people of Ogbomosoland. Other guest ministers, according to the statement, are Prophet Gabriel Oyelami of Ori-Oke Alasepe, Ikire Osun State; Prophet Amos Oluwafemi, City of Joy, Ibadan; Prophet Muideen Kasali, Ori-Oke Alaseyori, Ibadan; Evangelist J. A. Adelakun, Akute, Lagos; Prophet Evangelist J. O. Adeniji, CAC, Ilorin DCC revivalist and Evangelist Titilola Showunmi, a.k.a. Everlasting Joy, Ogbomoso.

Government officials handing over the cows

Taiwo Jimoh

ormer Chairman of Ajeromi-Ifelodun Local Area of Lagos State, Mr Kamal Bayewu, has inaugurated a block of 10 classrooms and an administrative centre at Ajuwa community in Ajegunle. The project, which was inaugurated as part of the activities marking the end of Bayewu’s administration, was handed over to the Ajuwa Community As-

Police probe disappearance of six motorcycles Juliana Francis

olicemen attached to the Olodi-Apapa Police Station have launched investigation into the stealing of six motorcycles at once. Preliminary investigation showed that the motorcycles were stolen in the same axis.

Investigation also showed that the owners of the motorcycles parked them in front of their houses on Sunday night, woke up the following morning to discover them gone. One of the victims, Mr Samson Akor, 28, disclosed that thieves stole his TVS motorcycle

According to Mrs Sururat Ariyibi, the fish processing machines would not only enhance fish production but also reduce rate at which residents develop cancer through consumption of smoked fish locally processed. She said: “With this gesture, the government is one way or the other putting money in our businesses. At least, a fish machine is sold for between N250,000 and N300,000. We are happy because very few of us can afford it. But these machines would boost our productivity. The fish processed through the machines is hygienic and healthy. But the ones produced locally could cause cancer.” On his part, Olakoya Olusegun, who also got 20 bags of fish feeds, said the best way to encourage Nigerians to embrace agriculture was through empowerment of citizens in their areas of interest. The Commissioner for Agriculture and Cooperative, Prince Gbolahan Lawal, described the gesture as a value chain empowerment programme designed to assist and alleviate poverty among farmers.

on August 23, 2013 and that he had had to struggle to buy his Bajaj Boxer motorcycle with registration number LSR 387, which stolen along with other five motorcycles. Akor said that the motorcycle of his friend, Akpajaka, was also stolen the same day.

Ajeromi-Ifelodun LG builds ultra-modern classroom block sociation Chairman, Shina Ikudeyinbu. Bayewu urged the youth and the elders of the community to make judicious use of the project. He said: “I have fulfilled my campaign promise to your community; I urge you to make use of the purpose the building was built for. “It is not easy erecting such a structure in a waterlogged area like ours here. The money spent on the building we are commissioning today could take us to build additional two. “It is not the money that matters most; all we are after is that we don’t want our pupils to feel inferior when they go outside their community and see what others are enjoying in their domains. “We want our pupils to

learn in a conducive and peaceful atmosphere devoid of distractions.” There was a mild-drama as the residents of Ajuwa asked Bayewu not to name the project after a former chairman of the local government. The residents asked Bayewu, whose tenure ended the same day, to retain the name of the school, Olodi Apapa Primary School, as against Prince Rabiu Oluwa Primary School. Bayewu also inaugurated a primary health centre named after a former legislator, Mr Dele Fayemi. He said: “We have observed low patronage of the health centre by the residents despite the qualified medical personnel and drugs at the health centre.

News

south - west

Don’t undermine us, Ogun PDP warns Bankole, Okupe Kunle Olayeni Abeokuta

risis seems to be brewing again in the Ogun State chapter of Peoples Democratic Party (PDP) following alleged moves to dissolve the current state executive committee of the party. The executive, headed by Chief Adebayo Dayo, is backed by the Chairman, Mobilisation and Organisation Committee of South West PDP, Prince Buruji Kashamu. But the party leadership has been pitted against certain powerful interests in the build-up to the 2015 elections with some scheming for its dissolution. Rumour about the dissolution of the Dayo-led state executive by the PDP national leadership was rife yesterday. This is coming on the heels of the party’s unification rally, where former Governor Gbenga Daniel and his loyalists from Labour Party (LP) were received back into the PDP as well as the alarm by Dayo about attempts by some chieftains to hijack the party’s primaries through manipulation of delegates. But reacting yesterday,

PDP Publicity Secretary, Waliu Oladipupo, said the state executive committee remained intact. In a statement made available to New Telegraph in Abeokuta, Oladipupo said any attempt to tinker with the structures on ground will be illegal and an invitation to avoidable lawlessness. “It is hoped that those angling to sow the seeds of discord know the implications of their contrived plot. If they think that they can ride on the back of one powerful man at the national headquarters to trample on the rule of law, we wish to serve them notice that we are ready for them,” he added. Oladipupo also chided former House of Representatives Speaker, Dimeji Bankole and President Goodluck Jonathan’s Special Adviser on Public Affairs, Doyin Okupe, for abandoning Ogun PDP in the past. He said: “The Ogun State PDP excos, from the ward to local government and state levels were not just elected at validly conducted congresses; they were refined through the crucibles of the party constitution and the laws of land and endorsed by the electoral umpire – the Independent National Elec-

Senator, others reject Ekiti PDP congress Adesina Wahab Ado-Ekiti

espite the peaceful conduct of the Peoples Democratic Party (PDP) ward congress at the weekend, a former senator, Ayo Arise and some other stakeholders in Ekiti North senatorial district have rejected the outcome of the exercise. According to them, the exercise conducted last Saturday, was fraught with irregularities. Briefing journalists in Oye-Ekiti yesterday, Arise, who represented Ekiti North senatorial district from 2007 to 2011,

alleged that Governor Ayodele Fayose, connived with some PDP leaders to manipulate the exercise. He also accused the Senator Ahmed Markafiled team from Abuja, of not distributing electoral materials to any of the five councils in the district. Arise, who called for a new congress that would be in consonance with the PDP’s constitution, said he would officially lodge his complaints before the PDP Congress Appeal Panel. He called for the reversal of the congress to prevent a backlash during the 2015 polls.

Osun PDP, APC at loggerheads over governorship poll result Adeolu Adeyemo Osogbo

sun State chapter of the All P r o g r e s s ive s Congress (APC) and the PDP were at the weekend at loggerheads over who would be sworn in as governor of the state at the end of the sitting of the Election Petition Tribunal this month. As the APC argued in a statement made available to newsmen in Osogbo by its Director of Publicity and Strategy, Kunle Oya-

Akure

ormer Chairman of the Forum of Commissioners of Finance and a chieftain of the All Progressives Congress (APC), Chief Tayo Alasoadura, has joined the senatorial race in Ondo State. Alasoadura, who was also a commissioner for finance in the immediate

past Peoples Democratic Party (PDP) administration in the state, said he decided to join the race to provide good representation and positive contribution towards the development of the state, particularly the people of Ondo Central senatorial district. Alasoadura said representatives of the state in the senate have failed to bring dividends of de-

tomi, charged the PDP governorship candidate, Senator Iyiola Omisore, to accept his fate on the result declared by INEC at the end of the August 9 election. While saying Aregbesola was the winner of the election, the PDP through its Chairman, Alhaji Ganiyu Olaoluwa declared APC’s claim as unrealistic as the election was characterised by fraud. Oyatomi told Omisore to honourably discontinue his impossible mission to remove Governor

Rauf Aregbesola from office as his exercise will be as futile as that of his party’s wasted effort to annul the legislative elections of 2011 in which all PDP’s candidates lost their bid to be elected into the state and National Assembly. From what the public has seen and heard so far, APC claimed, Omisore and the PDP appeared to be relying purely on falsehood, and not the facts on the ground and their lies are falling apart like a pack of cards. But Olaoluwa insisted

that the electorate in the state voted for Omisore and asked the people to exercise patience on the matter as he believes that all wrongs perpetrated during the electoral day would be righted by the election petition tribunal. The PDP boss kicked against the claim by the APC, saying a lot of malpractices perpetrated by the APC during the contest of the election had been discovered by the PDP lawyers during the inspection of electoral materials used for the last election in the state.

L-R: Celebrant, Chief (Mrs.) Nike Akande; Wife of Oyo State Governor, Mrs. Florence Ajimobi; Governor Ajimobi and husband of the celebrant/ Eketa Olubadan of Ibadan, Chief Adebayo Akande, during the 70th birthday of Mrs. Akande in Lagos…at the weekend. PHOTO:GODWINIREKHE

Group alleges arm-twisting of judge in Fayose’s case Adesina Wahab Ado-Ekiti

group, the Ekiti Movement for Good Governance (EMGG), has accused the state Chief Judge, Justice Ayodeji Daramola, of putting undue pressure on Justice Segun Ogunyemi to resume the case filed by a group, the E-11, challenging the eligibility of Governor Ayodele Fayose to contest the June 21, 2014

Former finance commissioner joins senate race Babatope Okeowo

monday, november 3, 2014 NEW TELEGRAPH

mocracy to the doorsteps of those who they represent on the floor of the senate. The former commissioner, however, pledged to contribute positively on the floor of the House on matters that will usher development to the state. He said: “We need quality people that will work with the president that will be produced by APC and we need quality

gubernatorial election. In a statement issued yesterday by EMGG Secretary, Dr. Abiodun Aina, the group also accused the chief judge of pressurising Justice Ogunyemi to believe that the National Judicial Council (NJC) had mandated him (Ogunyemi) not to withdraw from the case. EMGG said: “We are aware that the Chief Judge is compelling Justice Ogunyemi to assume sitting on the case. Our

question is, when did NJC asked Justice Daramola to compel Justice Ogunyemi to continue sitting on the E-11 case? “Is it the duty of the NJC to compel judges to sit on cases even if they do not want to? “Most importantly, can Justice Daramola produce the correspondence between him and the NJC, in which he was directed to compel Justice Ogunyemi to sit on the case? “The reality is that the

NJC did not give such directive,” the group alleged. The EMGG advised those who might have pledged to, at all cost, stop Fayose to know that they had engaged themselves in bad business. “Now that Fayose has assumed office, those who lavished millions of naira on the agenda should know by now that they put their money on a bad business,” the body said.

I will leave Ekiti better than I met it, says Fayose Adesina Wahab Ado-Ekiti

kiti State Governor, Mr. Ayodele Fayose, has promised to take the state to higher heights during his tenure, saying the current economic challenges notwithstanding. Fayose, who spoke through his Chief Press Secretary, Mr. Idowu Ade-

lusi, in Ado-Ekiti yesterday, said the administration would do everything possible to meet and even surpass the expectations of the people. He urged the people to perform their civic duties of prompt payment of taxes, levies and rates, adding that the government would also be alive to its responsibilities. “We know the expec-

tations are high and we are in a tough period as far as the economy is concerned. We are taking note of all the pieces of advice given to us by people and groups. For instance, we appreciate the Ekiti Council of Elders on the advice that we embark on projects having quick and direct bearing on the welfare of the people.

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Governorship aspirants

Stewardship

Amosun, Bankole, Akinlade, others battle for the soul of Ogun

I’m not sleeping in the Senate, says Ngige

14, 15, 16

Politics

Public offices for millionaires

Jonathan

Jega

The high cost of nomination forms by some political parties into certain political offices has continued to stir debate in the polity. ETAGHENE EDIRIN reports

n the build up to the 2015 general election, the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) have announced the prices for the governorship and presidential

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

forms for interested aspirants. The PDP fixed its presidential nomination fee at N20 million with a N2 million fee for Expression of Interest, and the governorship nomination form is fixed at N10 million with the Expression of Interest Form to be obtained at N1 million. For the APC, those aspiring for the presidential ticket of the party are expected to pay N27.5 million for both forms (expression and nomination). Incumbent governors, who wish to run for a second term, will pay N10.5 million, while fresh aspirants will pay N5.5 million. The All Progressives Grand Alliance (APGA) on its part pegged its governorship form at N12 million, comprising the Expression of Interest form for N2 million while the nomination form is N10 million. Female aspirants shall pay only 50 per cent of the fees for the nomination forms. National Secretary of the party, Dr. Abdulahi Shinkafi, said the purchase and return of the expression of interest forms and nomination would commence on October 27 and end on November 4. APGA was silent on its presidential primary or cost of forms for the presidential aspirants confirming speculations that

Buhari

PDP

APC Incumbent /Fresh

APGA

Presidential

N22m

N27.5m

N/A

Governorship

N11m

N10.5 / N5.5m

N14m

Senate

N4.5m

N5.3m / N3.3

N3.5m

House of Reps

N2.5m

N3.2 / N2.2

N2.5m

House of Assembly

N1.2m

N.8m / N.55

N1.2m

it was going to endorse the reelection bid of President Goodluck Jonathan in 2015. The cost of these nomination fees has elicited some controversy in the polity, as many have decried the cost, while others, especially, political parties officials have defended the cost of the nomination fees, which have been described by many as too high. Buhari laments First to complain of the high cost of the forms was an APC presidential aspirant and former military Head of State, Gen. Muhammadu Buhari, who decried the N27.5 million being charged by the party for the presidential nomination form, describing it as “too high for comfort.” Buhari lamented that the party leadership did not listen to his pleas that the amount be reviewed downward. Speaking to reporters shortly

after picking the forms, Buhari said: “It’s a pity I couldn’t influence this amount to be put down as in the case of ladies and the physically challenged that intend to participate. I always look left and right in our meetings but I could not read sympathy, so I kept my trap.” The retired General said he feels sorry for himself because he does not want to resort to asking anybody to pay for the nomination forms for him, adding that his saving grace was the good relationship he has with his bank manager in Kaduna, whom he has put on standby to honour the payment for forms notwithstanding whatever his account balance may be. Continuing, Buhari said: “I was about to go to Kaduna this morning and I told the chairman, but he said in that case, you better pick your form and keep a straight face, that means there is no excuse.” Also, a former sports minis-

ter and governorship aspirant in Oyo State on the platform of the PDP, Prof. Taoheed Adedoja, stated that the amount charged by the party as expression of interest fee for governorship is outrageous and capable of increasing corruption among politicians. Adedoja, who lost the PDP governorship primaries to Adebayo Alao-Akala in 2007, said the fee could disenfranchise many potential aspirants and rob the nation of quality contributions to governance by those who may not be able to pay the fee. He said: “Raising intention fees from N1m to N5.5m is outrageous. It would discourage many intending participants from taking part in the elections, more so when there is another N10 milliom payment at the national level. “The high fees will discourage party members with brilliant ideas from contributing to the governance of Oyo State. There are other legitimate means of raising funds for the party in the state but certainly not to be tied to the expression of interest fees of various elective positions.” Another aspirant who spoke CONTINUED ON PAGE 20

Politics

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

LEADING GOVERNORSHIP ASPIRANTS

Amosun, Bankole, Akinlade, others battle for the soul of Ogun With the 2015 general election fast approaching, Ogun State is set for an epic contest. Though the state’s political climate is currently filled with an air of uncertainty, going by the emerging realignment of forces, there are strong indications that the battle for the soul of the state will be a three-horse race. The ruling All Progressives Congress (APC), the Peoples Democratic Party (PDP) and the Labour Party (LP) are the three leading parties in contention for elections in the state. For the governorship seat, the incumbent Governor Ibikunle Amosun is seeking re-election. However, he is faced with stiff opposition, particularly from other politicians interested in his seat. KUNLE OLAYENI profiles the governorship aspirants in the state, their strengths, weaknesses and chances.

Ibikunle Amosun Senator Amosun is the incumbent governor of Ogun State. He is the fourth democratically-elected governor out of the 15 governors (military and civilian) that have ruled the state. He was elected in 2011 on the platform of the defunct Action Congress of Nigeria (ACN), which has transformed into the All Progressives Congress (APC). His governorship ambition materialised after an initial unsuccessful bid in 2007. Amosun’s foray into politics began out of the desire to give back to the society. In 2003, he was elected into the Senate on the platform of the Peoples Democratic Party (PDP) to represent Ogun Central Senatorial District. During his tenure in the upper chamber of the National Assembly, Amosun served as the Chairman, Senate Committee on Commerce and was member of several other committees. In 2007, he contested the governorship on the platform of the All Nigeria Peoples Party (ANPP) but lost to the then incumbent, Otunba Gbenga Daniel. He disputed the election results at the courts but the

Amosun

Bankole

Isola

Akinlade

judiciary validated his opponent’s victory. Amosun eventually dumped the ANPP and contested the 2011 governorship as ACN standard bearer. He polled 377,487 votes to beat his main challengers, Brig.-Gen. Adetunji Olurin of the PDP and Gboyega Isiaka of the Peoples Party of Nigeria (PPN), to second and third positions respectively. As governor in the last three years, Amosun has recorded landmark achievements, especially in the areas of road construction, urban and infrastructural renewal, education, transportation, improved security and environmental transformation, though critics disprove such. But ahead of the 2015 elections, he is confronted by daunting political battles both within and outside his party. In the APC, the crisis has polarised the party into two camps: those loyal to Amosun and those sympathetic to former Governor Olusegun Osoba. The division has also pitted the senators and majority of the House of Representatives members from the state against the governor’s camp. Osoba and his supporters are reportedly

making moves to dump the APC. In the final analysis, however, Amosun is likely to secure his party’s ticket for re-election. While his achievements may likely speak for him, the political exploits and game-plan he is able to marshal would go a long way in determining his success or otherwise at the poll. Dimeji Bankole Former Speaker of the House of Representatives, Bankole, is one of the leading governorship aspirants in Ogun PDP. For eight years, he represented Abeokuta South Federal Constituency at the National Assembly. He had a running battle with then governor Daniel, though the feud was later resolved. After losing re-election bid in 2011 and defying the PDP hierarchy’s opposition to the installation of Aminu Tambuwal as his successor, Bankole faced the battle of his life. The former Speaker was arraigned for fraud by the Economic and Financial Crimes Commission (EFCC). But in January 2012, he and his erstwhile Deputy Speaker, Usman Nafada, secured judicial victory.

Also in February, this year, an Abuja Federal High Court discharged and acquitted Bankole over involvement in N874 million contract scam. In the crisis-ridden Ogun PDP, some chieftains who are apparently concerned about the situation in the party, found in Bankole a unifying factor and strong candidate to unseat the incumbent governor. The ex-Speaker has stepped up strategic meetings and consultations towards realizing the goal. With his political antecedents and track record, not quite a few believed Bankole is a formidable aspirant for the governorship. If the PDP decides to take the gubernatorial battle to Amosun’s doorstep by zoning the governorship to Ogun Central Senatorial District, Bankole would be among the aspirants to be strongly considered. Speculations are rife that the Presidency is interested in fielding him as the party’s governorship candidate though this has as well stoked controversy. The former Speaker’s ambition may, however, come under threat if forces loyal to the party’s notable financier, Prince

Politics

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

LEADING GOVERNORSHIP ASPIRANTS campaign anchored on the slogan “Life more abundant.” His chances are quite bright due to the fact that Ogun West zone, comprising the Yewa-Awori people, has not produced governor in the history of the state. If the governorship is zoned to Ogun West, he may well be in the calculation. But Isiaka may find it difficult to unseat the incumbent because his senatorial district has a political history of presenting multiple candidates for gubernatorial elections.

Isiaka

Kawonise

Amusan

Bakare

Buruji Kashamu, oppose him. Before he united with the Chief Adebayo Dayoled executive of Ogun PDP, Kashamu had threatened to thwart the aspiration of Bankole in the party. Safara Isola Alhaji Isola is a politician of note who rose through the ranks in Ogun State. He was chairman, Abeokuta North Local Government between 1997 and 1998; appointed Special Assistant to the then Minister of State for Finance, Senator Jubril Martins-Kuye, between 1999 and 2003; served as Secretary to the State Government (SSG) from 2003 to 2007 and was Minister of Mines and Steel Development in the cabinet of late President Umaru Yar’Adua. His gubernatorial ambition in the build-up to 2011 made him to fall out with Daniel. The former minister played a key role in the PDP and served as Director-General of the Ogun PDP governorship campaign organisation of General Olurin (rtd) in the 2011 elections. Shortly after the poll, he parted ways with the camp of former President Olusegun Obasanjo and reconciled with Daniel. He sought the governorship ticket under LP but later returned to PDP alongside Daniel. The former minister has renewed his gubernatorial ambition in the PDP and is among the top contenders for the plum job. The Ogun Central Senatorial District, where he hails from like the incumbent governor, is in strong bid to retain the

number one seat. If the PDP zones the governorship to Ogun Central, Isola is tipped among the frontline aspirants that may be favoured. Abiodun Akinlade Hon. Akinlade is a member of the House of Representatives, representing Yewa South/Ipokia Federal Constituency. He is the chairman, House Committee on Science and Technology and is currently serving his third term. He was first elected into the National Assembly on the PDP platform but defected to the defunct Action Congress of Nigeria (ACN) in the run-up to the 2011 elections to seek the party’s governorship ticket. He, however, lost the ticket to Amosun. Akinlade was subsequently rewarded with the House of Representatives ticket. When the APC was formed, he renewed his interest in the governorship. But in the ensuing power tussle between Amosun and former Governor Olusegun Osoba, the federal lawmaker dumped the APC. He initially romanced the Labour Party before returning to the PDP. Akinlade has reportedly facilitated various Federal projects, ensured employment for over 450 youths and empowered thousands in the field of ICT. He recently accused Amosun of concentrating developmental efforts in few urban locations to the exclusion of rural communities which is predominant in his (Akinlade) federal constituency. Apart from being a politician with

Sina Kawonise Kawonise is the immediate past Commissioner for Information and Orientation in Ogun State. A native of Ago-Iwoye, Ijebu North Local Government Area of the state, he plans to contest the governorship seat on the platform of Labour Party (LP). Since his exit from government in 2011, Kawonise has been one of the most vocal critics of the Amosun-led administration. He founded the Association for Greater Ogun State (AGOS), which occasionally publishes critical comments about the state government’s policies and programmes in newspapers. In November 2012, unknown gunmen shot the ex-commissioner and his police orderly in Osun State on their way back from Awka, Anambra State. While Kawonise continues to prosecute his ambition, pundits opine that the electorate may not be favourably disposed to his zone. The former commissioner hails from Ogun East Senatorial District like the immediate past governor. If permutations in the leading political parties prop up zoning, Ogun Central and West may hold the ace. Another setback for Kawonise is the decision of his political leader, Daniel, to dump LP. This has consequently taken the steam out of his quest for governorship as the formidable structure that could help galvanise and crystallise his dream has cross-carpeted with Daniel. Notwithstanding, the ex-commissioner has declared his readiness to stay back in LP, saying the party remains the best platform to actualise his ambition. vast network, Akinlade is also banking on the power shift agitation by Ogun West Senatorial District which has not produced the state governor since the creation of the state 38 years ago. Gboyega Isiaka Prince Isiaka, fondly called GNI, was the former Group Managing Director of Gateway Holdings Limited, an investment arm of the Ogun State government. He hails from Imeko-Afon Local Government Area in the Ogun West Senatorial District. A First Class graduate in Accounting at the University of Ife (now OAU), he contested the 2011 governorship on the platform of the PPN and emerged third in the contest, losing to Amosun. He was originally the PDP governorship candidate before an order of Justice Abdul Kafarati of an Abuja Federal High Court altered the ticket in favour of General Olurin (rtd). Undeterred, the investment bankerturned politician moved with ex-Governor Daniel to LP where he emerged as a leading gubernatorial aspirant. However, Isiaka is back in the PDP again following the defection of Daniel’s loyalists. He has already obtained the party’s nomination form and looks set to slug it out with other contenders during the forthcoming primaries. With sound professional background, enviable private sector experience and sterling public sector performance, GNI has intensified his

Kayode Amusan Amusan, a member of the PDP, was in the House of Representatives between 2003 and 2011. He represented Odeda/Abeokuta North/Obafemi Owode Federal Constituency and was appointed into various committees in the lower chamber of the National Assembly. In his quest to further serve his state, he attempted to contest the governorship in 2011. Due to political maneuverings in the state PDP at that time, he dumped the gubernatorial ambition for a senatorial aspiration. He eventually contested the 2011 elections as a candidate for House of Representatives but lost to APC candidate and Olusegun Osoba’s son, Olumide. Ahead of the 2015 governorship election, Amusan is back to slug it out on the political scene again. Amusan believes his legislative experience with active participation in the affairs of the state had given him an insight into the challenges of the state. He has promised to run a responsive, participatory, accountable and transparent administration. If the PDP leadership decides to select the party’s gubernatorial candidate from Ogun Central Senatorial District, Amusan may be among the contenders. Remilekun Bakare Dr. Bakare is popularly called Arole Osoba – the heir to erstwhile governor of the state, Olusegun Osoba. In 2007, he contested the Ogun Central SenaCONTINUED ON PAGE 16

16 Politics /Monday Interview

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

LEADING GOVERNORSHIP ASPIRANTS

Ogunleye C O N T I N U E D F R O M PA G E 1 5

torial District on the platform of the Action Congress (AC) but lost to Iyabo Obasanjo-Bello of PDP. Though he challenged the result, the election petitions tribunal upheld his opponent’s victory. He attempted to run for the governorship in 2011 but lost the ACN ticket to Amosun. Bakare, a chartered accountant and Director-General of the Executive Business School in Lagos, recently dumped the ruling All Progressives Congress (APC) for the PDP in his quest for governorship seat in 2015. Many analysts believe his change of party was inevitable following the supremacy battle in the APC, which has seen Amosun gaining the upper hand and firm control of the ruling party. Coming from Ogun Central zone which is in prime contention for the gubernatorial race, Bakare seems to have chances. But, on the other hand, his ambition may not likely receive much needed support from key PDP stakeholders who may not be favourably disposed to handing over the governorship ticket to a “new entrant.” Rafiu Ogunleye Alhaji Ogunleye, who hails from Itele in Ijebu East Local Government Area, is one of the PDP governorship aspirants. He served as the deputy governor in the first stint of Chief Olusegun Osoba as governor between 1992 and 1993. He actively participated in the formation of the defunct ACN and later, the APC. When crisis was brewing in the ruling party in the state, Ogunleye was one of the elders who cried out. However, in August 2013, he defected to the PDP alongside hundreds of his supporters in the Imole Group. Having served as deputy governor, Ogunleye no doubt possesses the experience to govern the state. But due to age factor, some segments of the electorate may not be favourably disposed to him. In addition, zoning arrangement may shut him out of political calculations. The fact that he hails from Ogun East Senatorial District which produced the immediate past governor (Daniel) may work against him in the race for Oke-Mosan. Yanju Lipede Prince Lipede, popularly called “Solution,” is a former chairman of Abeokuta South Local Government Area of Ogun State. In fact, he was the local government helmsman for three terms. He was one-time chairman, Board of Gateway Hotels. He was also the state chairman, Association of Local Gov-

Lipede

Adewale

APC, PDP, LP aspirants jostle for Ogun guber seat ernments of Nigeria (ALGON). In 2011, he was appointed the Coordinator of the Jonathan/Sambo Presidential Campaign in Ogun State. Currently, he is the chief executive officer of Solution Media and Infotech Ltd, Lagos. The free transportation provided for students of primary and secondary schools and other achievements recorded by Lipede cannot be forgotten in a hurry by many residents of Abeokuta township and its environs. Having successfully created awareness with the slogan “Omoba Nbo,” the PDP gubernatorial aspirant is making deft moves and intensifying consultations among critical stakeholders in the state. Among all the PDP governorship aspirants from Egba division (or Ogun Central zone), Lipede appears acceptable to the different groups in the party. Though some believe he is an offshoot of the OGD political structure, they still don’t see him as a stooge of the former governor. Another plus for Lipede is his financial viability. He is believed to have the capacity to single-handedly fund his campaign without seeking help from any party member. His financial war chest therefore stands him in good stead for the governorship race. Segun Adewale Omooba Adewale known as OSA in political circles is another gubernatorial aspirant in PDP. An advertising executive and media professional with decades of experience, he threw his hat in the ring to serve the interest of his people. Adewale entered the political terrain through the LP, where he aspired to contest as senator representing Ogun West Senatorial District. However, in May 2014, he defected to the PDP in the wake of the factional crisis rocking LP. According to him, the PDP offered a better platform for him to achieve better his intentions to serve the nation. Adewale consolidated on his ambition to run for the Senate but later changed gear to governorship after consulting with his supporters and some party elders. While he may not be among the frontline contenders for the number one seat in the state, the

calculation that his zone (Ogun West) has not produced a governor since the creation of the state in 1976 may throw him into consideration in the PDP’s horse-trading.

Amosun is likely to secure his party’s ticket for re-election. While his achievements may likely speak for him, the political exploits and game-plan he is able to marshal would go a long way in determining his success or otherwise at the poll

Anthony Ojesina Engr. Ojesina is not only a politician but also a businessman and scholar. A graduate of Chemical Engineering and Chemistry from St. Mary’s University, Nova Scotia, Canada, he served as Commissioner for Environment in the Gbenga Daniel administration. When there was factional crisis in Ogun PDP and Daniel’s loyalists defected to the Peoples Party of Nigeria (PPN), Ojesina chose to remain in the PDP. He has since kept faith with the party. He was among loyalists of former President Olusegun Obasanjo who vowed not to cross-carpet to the APC. He has promised to embark on industrial, energy, agricultural and infrastructural revolution and prioritised human capital development if elected governor of the state. Dr. Yomi Majekodunmi Dr. Majekodunmi is a chartered accountant, stockbroker, taxation expert, investment banker and communications technology expert. He was the pioneer chief executive officer of the defunct Nationwide Merchant Bank as well as former managing director of Reliance Bank Limited. Between 2007 and 2011, he served as the Chief of Staff to ex-Governor Daniel. Majekodunmi joined the PDP since inception in 1998. He was chairman, Collegiate Council, Abeokuta North Local Government Area and was member, President Goodluck Jonathan Campaign Team in Ogun State. After he left government in 2011, he was said to have parted ways with Daniel following the latter’s corruption case with the Economic and Financial Crimes Commission (EFCC). He, however, reunited with the former governor some months ago. An amiable personality, Majekodunmi has always aspired to be a positive change agent and significant contributor to nation-building and statesmanship. This may have informed his decision to contest the 2015 governorship on the platform of the PDP.

Politics 17

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Senator Chris Ngige represents Anambra Central in the Senate. In this interview with TONY OKAFOR, the chieftain of the All Progressives Congress (APC) speaks on the 2015 general election and his political future. Excerpts:

You are yet to make your intention known prior to the conduct of primaries by your party. Are you interested in returning to the Senate or are you grooming someone else to take over? Your question simply put is when am I declaring? The answer would not be straightforward because I will disappoint you by not giving a very categorical answer on declaration. If you had watched the 2011 elections, I did not declare to run for the elections till about five weeks to that election. I did that for two reasons. First was that my party at the time, the Action Congress of Nigeria (ACN), wanted to watch who the gladiators would be from the other political parties. This time around, I am the incumbent senator and as far as my party is concerned, I have discharged the functions of that office creditably. As for my constituents, they have never had it so good because for the first time they have seen a senator go direct, and do the constituency projects the way it should be done. You can go round and see what we have done on a personal level. I have also initiated some scholarship programme for the people of my senatorial district. About 6,000 people are benefiting from the secondary and tertiary institutions scholarship programme we have. We have not been sleeping in the chambers of the National Assembly; I have about seven bills to my name having passed the first and second readings. We have a resounding motion cosponsored by 108 senators for the late Chinua Achebe. He is the only man who has no legislative standing that got a Senate recognition in death and was given a full day in the Senate and to ask the Federal Government to give him a national burial. I co-sponsored the motion for the Ikemba of Nnewi to be given a national burial and for a national monument to be named after him. I wasn’t sleeping in the chambers; if I was sleeping those motions would not go through. I also, participated in the National Health Bill, which emanated from my committee of health. These are things I have done in my three years staying in the Senate. I feel satisfied that I have tried my best within the situation of being an opposition senator, within the excruciating and hostile political climate in Nigeria, especially against the legislators and the legislature. Some of the legislatives are misplaced because some of us are there with good intentions to alleviate and ameliorate the problems besetting this country. So, if I am to judge by what I have achieved, I think my constituents will want me to go back, but for me as a person I am still doing what I call strategic consultations with various power groups, opinion molders and my political party, to see if I have their blessing or if they think that there is another office or assignment that I can be asked to do. I will be very willingly do it. I am not desperate to cling on to political office. Political office is for public service, and

I’m not sleeping in the Senate, says Ngige Some of the ex-governors turned senators are not doing well in the chambers. Some of them come to the Senate to rest; they do not even participate actively in our debates. When you call them for a meeting at committee levels, they will not come

Ngige

once it is not for public service count me out. Critics say you are afraid of some of the contestants who are challenging your seat like the national chairman of the All Progressives Grand Alliance (APGA), Chief Victor Umeh. I am the incumbent and consultation is part of what I owe my constituency. Some people like to do town hall meetings; I do my own in bits. I do them local government by local government and sometimes even ward by ward. I will call a bigger senatorial meeting and that would be around December, where I would give full account to the senatorial district and then take some feedback from them. If there are some of these projects that have not worked or have not been executed, they will let me know officially there. Are you afraid of them? The issue is that they are the ones that are afraid of Ngige. I cannot be afraid of them. They are new aspirants. They are aspiring from their various political parties and they need to sell themselves to their party members. At the end of the day only one of them will be selected. In PDP today, you have Hon. Uche Ekwunife, Senator Annie Okonkwo, Sylvester Okonkwo, Obiora Okonkwo, Okelekwe, Ezenwa Osita and Christy Okoye, there are plenty of them. In my party, I am an incumbent. If you have done well as an incumbent in a legislative office, you would have the right of first refusal. These people will be going about heating the polity. There is only one man that I say has already taken a ticket without any primary and that is the national chairman of APGA who has allocated a ticket to himself. The governor has raised his hands and blessed the ticket. There is no party primary election; there is no party announcement, no sale of form, nothing. When I look at it I laugh and I say what a country and what a democracy. I don’t have to start making noise like them. There is an English adage that says ‘when a vessel is empty and you knock on it, what happens? It makes the loudest noise’. A vessel containing certain object like water, stone or whatever, you knock

on it and the sound is not the same. We are not going to compete in noise-making with them. If I am not going to run for any reason, one thing I can assure you is that my party will retain that senatorial district. It is an APC senatorial district. President Goodluck Jonathan has been endorsed as the PDP candidate for the 2015 election. But your party is yet to produce a candidate to face him? Our democracy is ripening and we are deepening it every day. In the American presidential system which we copied, the political parties give the sitting president right of first refusal, especially if they feel he has done well. PDP claims that President Jonathan has done well. Whether or not he has done well, on a weighted scale after assessment by other political parties, is another kettle of fish. It is only Ebola that we have handled, because everybody wants to be alive including the treasury looters, thieves, fraudsters; all of them complied, they rallied round and we all fought Ebola. In APC, we have said that we are going to abide by our party’s constitution. Our party constitution makes provision for consensus; it makes provision also for direct or indirect primaries. We have chosen to go indirect because we have too many good aspirants who want to be our candidate. So, we have difficulty of choice. Within the next few weeks we will sort them out and present a candidate to Nigerians. Former Governor Peter Obi has joined the PDP, what do you make of that? When I first heard from the grapevine that Mr. Peter Obi was on his way to the PDP, I wasn’t very surprised, because some of us are privy to his type of politics. But what is nauseating is that just about six months ago, the same person had publicly vowed that we should consider him as having quit politics the day we hear that he is no longer in APGA. He also said that he was going back to face his business which has suffered due to his long absence. I am just dumbfounded that he has not left partisan politics but he left APGA to the Peoples Democratic Party (PDP). He has not gone back to his business. I had always held the view that most

people in APGA leadership including Obi at the time are traders. They were there to trade with the party and make money. I said so and I still hold that view. I am yet to be proved wrong. I wish him luck but I only ask the Ibos that with this movement, they have to open their eyes and note that those of us, Rochas Okorocha, Ogbonnaya Onu, Chief George Muoghalu, Senator Osita Izunaso, Okey Nzem of Enugu, Julius Ocha of Ebonyi, Ohajiuka of Abia, B.B Apugo, Chris Ngige and others; we are not sellouts. Our Ibo blood and Ibo spirit is very strong and that is why we have chosen to make our people the third leg of a tripod in the APC which is a national movement of all Nigerians. How do you see various campaigns for President Jonathan and PDP? I quite agree with you, the PDP has been campaigning vigorously. The situation is made more difficult because their candidate is the incumbent president. It is actually difficult to stop an incumbent political office holder. But the Electoral Act forbids political parties from canvassing for votes, except a few weeks to the main election. So I find it difficult when TAN, 4J, Nigerian Redemption Movement and the rest of them, come out and used the words “we gave you 90 per cent votes, this time we are going to give 100 per cent vote for Jonathan,” that is where I have problems with them. If it is a serious country, those organisations would be prosecuted by INEC. In prosecuting them, the court might not give them any option of fine, their leaders would be jailed. If it’s in a civilised society, the president should call them to order. These mushroom and sycophantic organisations, he should call them to order. I thought he was doing that when he started asking that one billboard put up for him should be removed, and that has been done. We hailed him for that. He has also asked them to go and register with the office of his political adviser, and they have been doing that. But that is not enough. They should be told in plain language to stop canvassing for votes. This is not the time for it. They are violating the Electoral Act.

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Opinion

Re: Arthur Eze’s puzzle on Abia

Godwin Odum

ecently, one journalistic rolling stone that has never gathered any moss right from his fleeting days in the old Daily Times up to his crashed misadventure in fledgling Hallmark Newspapers, Ethelberth Okere, sought to elucidate on Prince Arthur Eze’s unassailable declarations on the systemic rot in Abia State. In the fiasco, Okere displayed hollowness that confirmed his uncanny instability in the media. Okere’s futility to reconstruct what was said by the Prince of the Niger was sheer demonstration of illogicality of the worst order. In the first place, there is no ‘puzzle’ whatsoever with Prince Eze’s re-affirmative avowals on issues already known by one and all in and outside the country. The subject is very clear to discerning members of the society. Perhaps the only exceptions would be the Okeres whose desire for stomach infrastructure could make them twist just about anything as long as the economics is right! Writing in THE NATION ON SUNDAY of September 14, 2014, Okere said only Daily Sun carried the dispassionate summation of Prince Eze simply because the newspaper belongs to Dr Orji Kalu, the former governor of Abia State, who is at loggerheads with his successor, Theodore Orji, for reasons that bother on the latter’s legendary incompetency, ingratitude and witch-hunt. Can Okere that I have known for the past 20 years afford to buy a newspaper as to know that only Kalu’s medium carried the damning report? For Okere’s civilization and benefit, The Moment, People’s Daily, Daily Champion and copious online portals disseminated the developmental information. In any case, I also read elsewhere that a lot of money was expended by the Abia State government on the day of the incident to ensure that the report did not come out the next day. And to a large extent, there was near-blackout of the critical event! This is confirmatory of the level of media corruption in the country. It is unfortunate that a hanger-on-for-life like Okere cannot know some of these exclusive details. Okere also talked about Prince Eze’s “Anambra State nativity and sowing the seed of discord among the good people of Abia State.” If Okere is comfortable with the graveyard accord/silence in Abia State, most Abians are not fooled and would gladly welcome seeds of discord from sympathetic Nigerians irrespective

I advise Okere, my good friend, to face pastoral work which seems to be his last port of employment call. Having failed abysmally in journalism on account of his mercantilism and holistic professional irresponsibility as a certified hack, Okere should, as a matter of last resort, concentrate on winning souls for the Lord of their states of origin—which is immaterial in the circumstance. Such anaemic distractions in the name of analyses by the Okeres of this world can only appeal to those who cannot see beyond their nasal cavities. So, because someone is from another state he should not intervene in another state? What kind of brainlessness is this? Do we have to sacrifice our dignity because of a pot of porridge from Government House, Umuahia? Okere said equally that the only reactions to Prince Eze’s “diatribe and outburst” he found after monitoring were from persons and groups known to be critical of the present administration in the state. Did Okere expect reactions from praise-singers and worshipers like himself, ‘Abia elders’ as defined by Government House and members of Abia Patriots all of whom are undergoing a rehabilitative regime of the generous Orji leadership? Let there be some modicum of rationale in public discourse, Handouts should not make us unthinking animals! And to cap his ignorance, Okere rounds off this aspect of his weird interjection by saying that only the same newspaper (veiled and cowardly reference to Daily Sun) reported the reactions. I advise Okere to join the free readers’ club present at major newsstands to pay N20 and hurriedly scan as many publications as possible. The governor’s Chief Press Secretary’s office where Okere hangs on in the absence of gainful employment confided in me that they buy mostly “friendly newspapers” and the Sun titles for obvious reasons. Therefore,

how can he have access to leading publications or other unfriendly media? At this point, I advise Okere, my good friend, to face pastoral work which seems to be his last port of employment call. Having failed abysmally in journalism on account of his mercantilism and holistic professional irresponsibility as a certified hack, Okere should, as a matter of last resort, concentrate on winning souls for the Lord—and this is hoping that he has the ability and anointing to discharge this onerous evangelical task he has compellingly chosen. Communication generally and journalism particularly are not Okere’s forte. It is possible he did not know until now! Okere also made allusions to his emptiness by saying that drums were not rolled out in celebration of Prince Eze’s comments. When people are shocked to the marrow, there is usually little or nothing to add. What was anyone going to say that had not been said before Prince Eze’s contribution? It was not a revelation. The matter had been in the public domain since May 29, 2007. Why it was generally rehashed at all in the media was because of the personality of the eminent business mogul and billionaire philanthropist. Otherwise, not even Sun would have given it a mention! Who, apart from beneficiaries of the stench, does not know that Gov. Orji is a colossal failure and that Abia is under arrested development? Because of what Okere gets from Gov. Orji for sustenance, he used gutter language in describing Prince Eze’s comments and rounded off by saying that the prince made those utterances because of his filial relationship with Kalu and went ahead to make betrothal linkages which must have informed Prince Eze’s position! It is only in Igbo land that this kind of blatant disrespect is possible. If Okere were from the Southwest or the North and made this kind of impolitic, absurd and disrespectful vitriolic, he would have been in hot soup by now. The lesson for Okere, henceforth, is that he should not be indecorous in his choice of words especially when addressing a man of Prince Eze’s standing. There is life after Ochendoism. May God help us so that what we shall eat will not kill us. And so shall it be! The faceoff between Kalu and Orji cannot be resolved with an irritant like Okere. • Odum, a media independent, sent this article from Park Road, Aba

Kidnappers still winning Iyke Ozemena

fter 13 days in captivity the immediate past and the 26th president of Nigerian Bar Association (NBA), Okey Wali , SAN regained freedom from armed kidnappers. They had struck on Satyurday 11th October, 2014 at Rumualogu in Obio Akpor, Port Harcourt, Rivers State while on his way to visit a relative that evening. I was actually shocked on hearing the breaking news. Gazing around and trying to recover from the disbelief and come to terms with the reality, the thought that came across my mind was an interjection: who is safe? A man of that status should be able to move around, if not the entire country with lawyers all lover which is his constituency but at least in Port Harcourt from where he hails, practices and socializes. I felt really sad that a prominent Nigerian such as the past president of NBA could lack intelligence hints from members, his constituency and even within security and intelligence community. Since victims of these high profile abductions and kidnappings are known to be politicians or any stake therein, one wonders what the motives of the kidnappers

These governments consider kidnapping as treason in the sense that it is duty of governments at all levels to provide security and welfare to all citizens; any threat to any citizen is an affront to the government of the day really are. The logical deduction points to no other than economic extortion for material gains. Therefore, the challenge facing Nigeria today is to tackle the menace headlong, to shape a better future for the nation. These are people Chief Mike Ozekhome, SAN had laboured hard to exonerate on the grounds of economic pressure and unemployment; and even advocated amnesty for . He probably went that far because of what Dr Juan Summasi, Director-General of International Labor Organization (ILO) said: “Poverty anywhere is a threat to prosperity everywhere”. Be that as it may, the

Senior Advocate though did not expatiate how to achieve such legal largesse. However, amnesty under Section 175(1) of the 1999 constitution “may be” granted by the president to a “convicted” person. The riddle is, if it is an idea that would appeal to the authorities as a panacea to the menace, how do you assemble all past, present and future kidnappers to grant them presidential amnesty without first nominally charging and extracting undertaking from them? Unless Chief Ozekhome describes graphically how to achieve that, it does not seem feasible and I seriously doubt whether that is a solution option a nation would want to adopt to cure the menace. So, it seems to me inelegant for the Attorney-General and Minister of Justice to recommend Ozekhome’s option in advising the president on the possible cure for the menace. Kidnapping is a terrorist act and which western nations do not treat with kid gloves by direct government negotiations. These governments consider kidnapping as treason in the sense that it is duty of governments at all levels to provide security and welfare to all citizens; any threat to any citizen is an affront to the government of the day. Therefore, kidnapping a citizen is a direct challenge to the government to roll out troops in pursuit of the kidnappers, in an attempt to restore liberty to an innocent citizen who owes allegiance to the state and in return is guaranteed government’s security and welfare.

Is there any doubt therefore that many states have resorted to legislation not only to criminalize the act but to make it attract capital punishment. These tragic incidents are just symptoms that the security situation is worsening. The insurgency in the North East started with kidnapping but without any monetary ransom. It is also an indication that intelligence gathering in the communities is non-existent or weak. I am of the candid opinion that there is no intelligence network in the various communities, especially the rural areas. What do you make of the fact that those who run the terrorist group unleash such masterly onslaught on the masses without independent communication network like internet exclusively used by them alone. Which means that they live and interact amongst everyone in the communities where they hold their meetings, detail orders and decisions without any infiltration or detection by patriotic citizens. Deterrence is almost zero since a legal survey conducted recently showed that possibility of arrest and punishment is about 10 per cent. It is my submission that the level of patriotism on the thorny issue is rather low and pathetic. There is need for continued public enlightenment by the National Orientation Agency on basic civic duties of security conscious citizens. • Ozemena, wrote in from Lagos

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

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Time to address power crisis

igeria’s power problem has assumed a disturbing dimension with recent revelation that an estimated N796.4 billion is spent yearly on fuel to power electric generators in the country. The programme director, Community Research and Development Centre, Godfrey Ogbemudia made the disclosure and attributed the disheartening development to insufficient power supply in the country. Nigerians spend the whopping sum in order to generate their own electricity. Ogbemudia further explained at the official launch of the Nigeria Renewable Energy for All Project in Benin, that the figure is the same as the federal government’s budget of N796.7 billion for the capital expenditure for the 2009 fiscal year for 36 states of the federation. He lamented that despite the various government policies to revive the energy sector, many citizens of the country still get as low as four hours of electricity supply per day, paving the way for Nigerians to do with solar energy as an alternative source of power. Ogbemudia said CREDC had been playing a major role in the deployment of renewable energy to rural communities since 2006. Part of this he said was the installation of stand-alone solar systems for more than 550 households in Edo state. He further explained

that the solar project, also known as Nigeria-REAP, was meant to improve access to sustainable and uninterrupted electricity supply using renewable energy in collaboration with Schneider Electric. Since the inception of the democratic administration in 1999, a lot of promises have been made by successive governments to provide constant power supply but has ended in unmitigated fiasco. The fact that Nigeria has spent billions of US dollars on power projects over the past 13 years with very little tangible results shows the level of corruption and misapplication of funds in our country. How can the power supply situation in Nigeria improve when most of the people involved in the bidding and subsequent execution of power contracts know little or nothing about electrical power generation, transmission or distribution? It is hard to believe that with all her gas and oil deposits, Nigeria cannot sustain adequate gas supply to run the thermal stations dependent on this resource. Granted that a lot of the gas pipelines are frequently damaged by vandals and economic saboteurs, the Federal Government should, as a matter of urgency and priority, improve as well as maintain steady gas supply to the existing generating stations and protect the gas pipelines and power transmission lines/equipment from further vandalization.

This can be done by entering into long term gas supply contracts with Nigerian gas companies. The strategy will build tempo and raise the capacity utilization of the existing power generating stations/ power transmission equipment. Power transmission equipment are very costly and therefore should be protected from nefarious vandals and power industry cabals. Efforts should be made to rehabilitate the existing power generating stations to enable them run at or near 100 per cent of their Demonstrated Maximum Net Capability (DMNC). We must point out that generating constant power supply is not a rocket science. Smaller West African countries like Republic of Benin, Togo and Ghana have achieved this feat, so why not Nigeria? It will be recalled that the date of uninterrupted power supply has been shifted several times in the country and the deadline now seems to have no end. Nigerians are wallowing in horrendous darkness, and the roadmap to constant power supply in the country has so far led to nowhere. The excuse that has been bandied around is that of system collapse and loss of substantial megawatts in the national grid. This national tragedy has had deleterious consequences on the political economy of the country. Admittedly, the shocks from the electricity crisis in Nigeria have created some wedges in the nation-

al wheel of effective management of industrial and other socio-economic development programmes. Imagine a population of 150 million people depending on less than 3000 MW of electricity. No wonder Nigeria’s economy has been described as a “Fossil Generator Economy” and small and medium scale businesses incur extremely high overhead costs maintaining their expensive economically, environmentally, and health wise fossil fuel powered generators. Nigeria is blessed with an abundance of renewable energy both as direct and indirect solar energy. Indirect solar energy includes water power in the form of hydroelectric power, wind power, bio-fuels derived from corn and other plants, biomass, and biogas from garbage and other biological wastes. Solar energy can be exploited directly in thermal applications, such as drying, water heating, distillation, solar cooking, refrigeration and air conditioning, thermal power generation and in solar electricity production using photovoltaic converters. Therefore, Nigeria has no business being in darkness under any circumstances. So, enough of the alibi. Nigeria must wake up from its seemingly very deep slumber and show sufficient determination to turn things around. We as a people and nation cannot continue in this path, which is self-defeating and crisis-ridden.

Managing Director/Editor-in-Chief n Eric Osagie Deputy Managing Directors n Gabriel Akinadewo

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Politics

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Furore over nomination fees C O N T I N U E D F R O M PA G E 1 3

under anonymity to New Telegraph said, “The high cost of nomination forms shows no ideological difference between the APC and the ruling PDP, which has also hiked the cost of forms beyond the reach of its ordinary members.” Some analysts are of the view that the cost of the parties’ nomination fees, especially for governorship and presidential positions is akin to selling political power, and that such concept is capable of attracting mostly people with hidden intentions towards political offices, and the public treasury. They note that it is for this same reason the political parties have no clear-cut ideologies, enabling the politicians to junket from one platform to another with relative ease. According to pundits, the cost of the forms for various political positions in the different parties only confirms fears in some quarters that such offices are only open to the super rich, and does not allow people with low income, but sound ideas any chance to aspire to serve the people. The Jonathan model While Buhari was lamenting the high cost of the nomination fee of his party, the APC, President Goodluck Jonathan, who has been endorsed by virtually every organ of the PDP as the sole candidate for the February 14, 2015 presidential election, is having a field day as far as the financial cost of purchasing the form was concerned. No sooner than the president had signified his interest to collect the forms, and perhaps to demonstrate his popularity, a number of individuals and groups from virtually every geo-political zone of the country, trooped out to offer to buy the form for him, or at least contribute to fund its purchase. Special Adviser to the President on Media and Publicity, Dr. Reuben Abati reeled out a list of the individuals and groups who had offered to be a part of history by offering to pay the required N22 million for the PDP Presidential Nomination Fee and Expression of Interest Form. The PDP governors and Transformation Ambassadors of Nigeria (TAN) led the pack of contributors, by doling out N22 million each. Other contributions ranged between N5, 000 and N5 million. The president re-election contribution fund presently stands at about N100 million as others have continued to donate money even after the president has purchased the forms. But the question on the minds of most analysts is: what will the president owe these contributors if he does win the election? In defence In defence of the cost of the nomination fees, national chairman of the APC, Chief John Odigie-Oyegun, told Buhari that: “The N27.5 million is to

Atiku

separate the men from the boys. It is quite clear, we know you. I don’t expect that you have N27.5 million under your belt, but I expected that there are Nigerians who will vouch for you any day and who are ready to stand for you any day.” He also congratulated Buhari for selling himself and the party with the way he handled his formal declaration. Speaking with New Telegraph, Dele Ojogbede, a legal practitioner and public affairs commentator, noted that though the cost of the nomination forms are too exorbitant, “but I know that they must have done that in order to whittle down the number of aspirants and to distinguish between the serious and unserious aspirants.” On criticisms that the cost of the forms may encourage corruption on the part of candidates who eventually win the elections to occupy public office, Ojegbede noted that “even if you ask people to pay N2 million for nomination form, it does not mean that if they get to power they won’t steal, if they want to.” According to him, “there may be the tendency to want to steal if that person already has stealing in his blood. And there may not necessarily be the tendency to steal if that person is a man of integrity.” Ojogbede also said that the personal characteristic of each aspirant will tell a lot about what they are offering, and what they have to offer. He, therefore, advised Nigerians not to worry themselves too much about the cost of the nomination fees, but focus more on the individuals seeking their votes and their pedigree. Some other commentators contend that the cost and collection of fees for the nomination forms is a means by which some of the political parties raise funds and resources to organise party primaries and other running cost for the parties. Position for sale But this argument has been faulted by some critics who contend that political parties all

Mu’azu

The cost of the parties’ nomination fees, especially for governorship and presidential positions is akin to selling political power, and that such concept is capable of attracting mostly people with hidden intentions towards political offices, and the public treasury

Oyegun

over the world generate funds through the payment of dues by its registered members, and lament that this is not the case of Nigeria, as the parties are viewed first and foremost by members as a means to access and get a share of the national cake. This school of thought noted that the level of political understanding and culture amongst citizens, and those who occupy the political landscape is so low that what people are looking for is immediate gratification. Barr. Monday Ubani, the immediate past chairman of the Nigerian Bar Association (NBA), Ikeja branch, who described the cost of the nomination fees as outrageous, stated that the justification by the APC that it is meant for funding and financing of the party is not tenable. According to him, “that is not how to fund political parties, because parties are funded by constant contribution of members, and not through outrageous demand on governorship and presidential aspirants,” he said. Ubani asked: “Do you know how much this money would be in dollars? It can change a whole local government if well appropriated. Of course, you know that Buhari was crying while paying the money because he had to ask his bank to ensure that the cheque didn’t bounce. It is very sad and not reflecting an attitude of change, it is condemnable.” He lamented that one major problem with the political space in the country, is that it is highly monetised. “We know that politics is expensive all over the world but ours go extra especially now that we have added stomach infrastructure to it. You have to brand the rice, kerosene, foodstuffs and the rest. So, no matter the ideas you have, or what you genuinely want to do for the people, if you are not ready to give people money, you are going nowhere,” Ubani stated. Some questioned the justification for an individual to spend such huge sums in purchasing

the forms, considering the lawful and legal annual earnings of the president, asking what happens when the nomination form purchaser at the end of the day wins the nomination and the election, or should he win the party nomination and fail to win the election, and should he loose getting nominated at all by his political party in an arena of uncertainties. If such happens, how do they recoup their monies, which are usually considered as investments? Role of INEC Others lamented that political parties in the country have no form of accounting for such funds, especially since the Independent National Electoral Commission (INEC) has abdicated its responsibility of monitoring and regulating the sources of funding and spending of political parties, as provided for in the Electoral Act. They therefore advice that there is the need for Nigerians to task INEC to put a limit to what can be paid for nomination fees, and what can be spent by the parties on campaign. Another school of thought also argues that the high cost of such fees for a party’s form may leave some highly gifted individuals who have something to offer at the mercy of godfathers and moneybags, who will call the shorts, after providing the financial backing needed by such aspirant to ascend to public office. In this way, they argue, the monetised political system will exclude good people who have a lot to offer from governance, because they don’t have financial resources for the so-called logistics. And although they commend the recent legislation by the Senate on independent candidature, which they said, has given a measure of hope to those without party affiliations to aspire for public offices, they are also quick to mention that this will only produce tenable results where people are enlightened and interested in ideas and antecedents of what someone has done before.

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

IGR: 98% state govts embrace automation

Money Line

Q4 2014’ll be tough for banks –RenCap

Special Report

Nigeria’s leading brands /advertising managers

Proust: No refinery investments in Nigeria for now

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Business Telecoms: N480bn undersea What's news

Nigerian firms strong despite weak oil prices –Report

Despite the disturbing crash in oil prices in the international market, companies that are domiciled in Nigeria are still waxing strong and confident in their future prospect, according to the latest Business Sentiment Indicator for Nigeria report released by Chartered Bank.

cables in Nigeria ‘idle’ FUNDING More investment is required by telecoms investors to drive last-mile connectivity

nology industry. With their landing in Lagos, experts say that additional investment is required by telecoms investors to drive lastmile connectivity across the country. “The encouragement of

inter-city fibre link investors is critical to ensuring widespread internet connectivity, expected to take bandwidth capacity across the country,” said Chief Executive Officer, Telecoms Answers Associates and former President, Associa-

tion of Telecoms Companies of Nigeria, Mr Titi Omo-Ettu. This, according to him, is expected to have positive multiplier effects on the Nigerian economy within the shortest CONTINUED ON PAGE 22

Kunle Azeez

p.22

Oil tumbles toward fourth straight monthly decline Oil production from Nigeria and other members of the Organisation of Petroleum Exporting Countries (OPEC) dipped by 120,000 barrels per day in October, just as oil prices dropped and headed toward their fourth consecutive monthly fall.

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The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Godson Ikoro

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Dele Alao

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he various international submarine fibre optic cables in Nigeria valued at $3 billion (about N480 billion) are ‘grossly under-utilised and largely idle,’ New Telegraph has learnt. The continent’s submarine cable market is valued at an estimated $20 billion, with cable operators including the South Atlantic 3; MainOne; Glo1; West African Cable System (WACS); African Coast to Europe (ACE); Lower Indian Ocean Network (Lion); Seacom; EASSy; TEAMS; among others, dominating the market. The submarine cables, which have their landing points on Nigeria’s shores are South Atlantic 3 (SAT-3) valued at $600 million; Glo 1 cable built at the cost of $800 million; MainOne Cable, whose construction cost $250 million; West African Cable System (WACS) at $650 million and ACE valued at $700 million. All the five in-country cables come with an investment of $3 billion (N480 billion) with checks indicting that they are virtually stranded on the coastline. The cables, which brought huge internet capacity running into over 10 terabit bandwidth into the country also represents a key investment in Nigeria’s and Africa’s Information and Communication Tech-

L-R: Chairman, Owode Onirin International Motor Spare Parts Dealers Association, Alhaji Raimi Adebayo; Regional Business Executive, Lagos Mainland 2, Sterling Bank Plc, Mr Tunde Adeola and the Vice Chairman, Owode Onirin International Motor Spare Parts Dealers Association, Mr Nureni Oshilalu, at the opening of Sterling Bank’s branch at the market.

Power shortfall, tariff hinder new owners’ N2.7trn investments Adeola Yusuf

he shortfalls in power and ‘inadequate tariff ’ have inhibited the 2.7 trillion investments, which new owners of power assets are expected to commit to the sector, just as the privatisation clocked one year at the weekend. The investors and the Bureau of Public Enterprises

(BPE) had on November 1, 2013, signed a purchase agreement, which states that the new owners should commit an average of N42 billion each over a fiveyear period, to the companies. The agreement states further that investments of N11 billion are expected at the first year after the privatisation. Investigation by New Telegraph however showed that none of the investors was able

to meet up with this pact. “The business environment during the last one first year was harsh,” a top management staff one of the companies, who craved anonymity, said, adding: “It is true that none of us could be able to meet up with this investments commitment. In fact, the highest we could do in the N11 billion target was N2 CONTINUED ON PAGE 36

Abdulwahab Isa Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Rates Dashboard INFLATION RATE September 2014.....................8.3% August 2014............................8.5% July 2014.................................8.3%

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

EXCHANGE RATE

(Parellel As at Oct 31)

USD . . . . . . . . . . . . . . . . . . . N170.50 Pounds . . . . . . . . . . . . . . . . . . N278 Euro . . . . . . . . . . . . . . . . . . . . . . N217

l Foreign Reserves – $38.76bn as at 29/10/2014

Source: CBN

EXCHANGE RATE (Official As at Oct 31)

USD . . . . . . . . . . . . . . . . . . . . N156.76 Pounds . . . . . . . . . . . . . . . . N252.02 Euro . . . . . . . . . . . . . . . . . . . . N199.32

Business | News

UNEMPLOYMENT

Employment fell for the sixth consecutive month to 50.7 in October Sunday Ojeme

espite the disturbing crash in oil prices in the inter national market, companies that are domiciled in Nigeria are still waxing strong and confident in their future prospect, accord-

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Nigerian firms strong despite weak oil prices –Report ing to the latest Business Sentiment Indicator for Nigeria report released by Chartered Bank. The report, which indicated that business confidence in Nigeria bounced back to a series high of 66.6 in October from 62.4 in September, revealed that despite a

sharp deterioration in future expectations of credit availability (to 39.1 from 55.4), companies’ assessment of their financial positions rose to a series high of 81.3. It added that future expectations of companies’ financial positions rose to 96.1, a new series high.

According to the report, “while many externally are fretting over the likely impact of weaker oil prices on the Nigerian economy, it does not appear to have done very much to shake the confidence of Nigerian companies in their own prospects and percep-

L-R: Admin Officer, Lagos State Security Trust Fund (LSSTF), Mr Degbola Lewis; Chief Executive Officer, Mr Fola Arthur-Worrey and Managing Director, Ecobank Nigeria, Mr Jibril Aku, during the handing-over of Hilux Vans donated by the bank to LSSTF in Lagos.

N480bn undersea cables ‘idle’ CONTINUED FROM PAGE 21

possible time. New Telegraph gathered that on account of the apparent lack of incentives for local investors to drive last-mile connectivity on the undersea cables, the cables’ capacity is ‘grossly under utilised and largely idle.’ “Only about 10 per cent of the total capacity of undersea cables in Nigeria is currently being utilised, leaving a whopping 90 per cent of the bandwidth capacity on the submarine cables idle,” said Chief Executive Officer of Ceragon Networks Limited, Mr Bekele Tadesse, in an interview. He, however, stressed that proper usage of the capacity on the submarine cables holds the solution to the provision of the pervasive broadband and other telecoms services for Nigeria. Nigeria’s broadband penetration is still low at six per cent, according to the Minister of Communication Technology, Mrs Omobola Johnson. “Today, we have a mandate to achieve a five-fold broadband penetration in the country by the end of 2018 as contained

in the National Broadband Plan 2013-2018 and we know that last-mile is still a challenge that needs to be surmounted,” Mrs Johnson said. Group Managing Director, Teledom International, Dr Emmanuel Ekuwem, said that by ensuring last-mile connectivity of the bandwidth capacity on the cables across the nooks and crannies of the country, “the country will experience unprecedented ubiquitous telecoms services, especially broadband, which is the next frontier of revolution in the country.” Meanwhile, the telecoms industry regulator, the Nigerian Communications (NCC), is currently planning licensing of seven Infrastructure Companies (InfraCos) each in the six geo-political zones and the Federal Capital Territory, Abuja, which will tap capacity on the submarine cables to provide services in their areas of operation. Also, the Chief Executive Officer, MainOne, Ms Funke Opeke, said that the disruptive nature of the InfraCos is necessary because of the slow pace CONTINUED ON PAGE 36

CURBING FRAUD E-payments eliminate corruption and irregularities related with cash collection Kunle Azeez

aced with the corruption associated with physical collection of cash by government institutions, about 98 per cent of state governments in Nigeria have deployed automated system for collection of their internally generated revenues (IGR). The Group Head, Industry and Regulation, Interswitch Limited, Mr Paul Ohakim, disclosed this at a media training organised by the Electronic Payment Providers Association of Nigeria (E-PPAN) in Lagos at the weekend. He said that electronic payment system has become one of the key ways to eliminate all the corruptions and irregularities associated with cash collection by individuals, private and public institutions. “As such, I can tell you that about 32 states in Nigeria are currently connected to the Interswitch network, where they have automated their revenue collection processes and they have continued to

tions of future financial strength. “Business confidence in Nigeria is strong. In October, business sentiment bounced back to a series high of 66.6 from 62.4 in September. Both demand and output increased at their fastest pace since the series began in March 2014. It is likely that the Id-el Kabir festival in October, after the independence holiday, helped boost activity. “Companies also reported healthy production and orders ahead of the Christmas holiday season. In this piece, we explore in further detail the methodology and interpretation of the BSI.” The BSI is a part of a series of African economic indicators, including a real-time price tracker being launched by Standard Chartered and its data partners, to enhance the availability of private-sector information on African economies between official data releases. They also partner with MNI, a well-known data provider that has

long produced the Chicago PMI among other indicators, to construct the Standard Chartered-MNI BSI for Nigeria. Each month, up to 200 formalsector businesses, active in different segments of Nigeria’s economy, respond to questions on Nigeria’s current and future economic conditions. The report further affirmed that while the rebased Nigerian GDP series tended to favour accelerated activity in Q4 ahead of Christmas, and while this is consistent with Nigeria’s calendar-year budget cycle in which spending at the start of the year is typically slower, it is too early to draw meaningful conclusions about the relationship between the BSI and GDP. “In October, two of the five components that make up the headline Standard Chartered-MNI Nigeria BSI increased. New orders, with a 35 per cent weight in the headline index, posted CONTINUED ON PAGE 36

IGR: 98% state govts embrace automation increase their IGR level as a result. This figure represents almost 98 per cent of the states in the country. “This shows that almost all the states in the country have realised the importance of embracing automated system of revenue collection and payment settlements in the current global economy being driven by Information and Communication technology (ICT),” he said. According to him, “most payments that were hitherto collected by governments’ ministries, departments and agencies (MDAs) through physical cash, with a large chunk of such revenue poorly accounted for, have now been well automated one way or the other.” He said that in achieving the objective of plugging all the leakages associated with physical cash collection, governments and their agencies had been partnering with banks and switching companies such as Interswitch and others. With an automated scheme, according to Ohakim, governments are able to see clearly what is happening to their incomes from various sources. “Also, the automated system of payment provides what we call ‘trail’, whereby you are able to trace the jour-

ney of the payment right from the point it is paid; you can see if it eventually reaches its designated account or not. This is one merit of automated payment system that guarantees transparency and accountability. This, therefore, discourages instances of corruption associated with physical cash collection,” he said. Ohakim explained that regardless of the little challenges that may still be associated with electronic payment in the current cashless economy policy regime being promoted by the Central Bank of Nigeria (CBN), “the advantages of going electronic payment are huge in enthroning financial transparency and accountability in the economy.” He explained that together with the Bankers’ Committee, the apex bank is working with stakeholders to ensure a safe e-payment ecosystem in the country. Ohakim said that the banks and the apex banks are also collaborating to ensure that cases of irregularities associated with cashless economy scheme are settled between the parties involved in a more effective manner so CONTINUED ON PAGE 36

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Sanctity of Truth

From Life In a Dump In Rwanda To Harvard By MICHAEL WINES

BOSTON — Nine years old and orphaned by ethnic genocide, he was living in a burned-out car in a Rwandan garbage dump. Daytimes, he was a street beggar. He had not bathed in more than a year. When an American charity worker, Clare Effiong, visited the dump one day, other children scattered. But Justus Uwayesu stayed put, and she asked him why. “I want to go to school,” he replied. He got his wish. This autumn, Mr. Uwayesu enrolled as a freshman at Harvard University on a full scholarship, studying math, economics and human rights. Now about 22 — his birthday is unknown — he could be, in jeans and sneakers, just another of the 1,667 first-year students here. But of course, he is not. Over the 13 years since his escape, Mr. Uwayesu did not simply rise through his nation’s top academic ranks. As a student in Rwanda, he learned English, French, Swahili and Lingala. And he helped found a youth charity to help poor high school students. Fresh from a land dominated by two ethnic groups — the majority Hutu and the Tutsi, who died en masse with some moderate Hutu in the 1994 conflict — he says he is delighted by Harvard’s stew of nationalities and lifestyles. He was pleasantly taken aback by the blasé acceptance of openly gay students — “that’s not something we hear about in Rwanda”— and disturbed to find homeless beggars in a nation

Continued on Page 26

IAN THOMAS JANSEN-LONNQUIST FOR THE NEW YORK TIMES

Justus Uwayesu’s parents were killed in the genocide in 1994.

JASPER JUINEN FOR THE NEW YORK TIMES; BELOW, AP PHOTO/MANU BRABO, FREEJAMESFOLEY.ORG

Horror Before Beheadings Inside an ISIS Prison, Grim Months of Torture and Dashed Hopes By RUKMINI CALLIMACHI

James Foley returned to the cell he shared with nearly two dozen other Western hostages and collapsed in tears of joy. The questions his kidnappers had just asked were so personal — Who cried at your brother’s wedding? Who was the captain of your high school soccer team? —that he knew they were finally in touch with his family. It was December 2013, and more than a year had passed since Mr. Foley vanished in northern Syria. Finally, his parents would know he was alive, and his government, he believed, would soon negotiate his release. What appeared to be a turning point was in fact the start of a downward spiral for Mr. Foley, a 40-year-old journalist, that ended in August when he was forced to his knees somewhere in the bald hills of Syria and beheaded as a camera rolled — a very public end to a hidden ordeal. The story of what happened in the Islamic State’s underground network of prisons in Syria is one of excruciating suffering. Mr. Foley and his fellow hostages were routinely beaten and subjected to waterboarding. They were starved and threatened with execution by one group of fighters, then handed off to others who brought them sweets and contemplated

The father of a young Belgian who spent three weeks in the same cell as James Foley, left, and other hostages, holds a picture of the prison where they were held. freeing them. The prisoners banded together, playing games to pass the endless hours, but as conditions grew more desperate, they turned on one another. Some, including Mr. Foley, sought comfort in the faith of their captors. Their captivity coincided with the rise of the group that came to be known as the Islamic State out of the chaos of the Syrian civil war. It did not exist when Mr. Foley was abducted, but it slowly grew to become the most powerful and feared rebel movement in the region. By the second year of Mr. Foley’s imprisonment, the fighters had amassed close to two dozen

hostages and devised a strategy to trade them for cash. He was one of at least 23 Western hostages from 12 countries, most of them nations with a history of paying ransoms. Now, the hostages’ journeys would begin to diverge in response to actions taken in Washington, Paris, Madrid, Rome and beyond.

Seized at an Internet Cafe In Binesh, Syria, two years ago, Mr. Foley and his traveling companion, the Continued on Page 26

INTELLIGENCE

WORLD TRENDS

MONEY & BUSINESS

ARTS & DESIGN

The complexities of being French. PAGE 24

Iraqi Christians flee into Jordan. PAGE 29

Sheep farming takes a big turn. PAGE 31

An architect enchants Paris. PAGE 34

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, NOVEMBER 3, 2014

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

EDITORI A LS OF THE TI ME S

Shifting Oil Prices The price of crude oil has fallen roughly 25 percent since a peak in June. That is bad news for members of the Organization of the Petroleum Exporting Countries, or OPEC, and other nations and governments that rely heavily on oil exports because their income has taken a huge hit. It is especially bad for Russia and Iran, which have relied on high oil prices to defy the United States and Western sanctions. It is bad for the environment because cheaper oil means fewer incentives to develop alternative and less carbon-intensive sources of energy. But the news is not bad for Saudi Arabia. The country has ample cash reserves to withstand a drop in income, shows no inclination to reduce production and seems to prefer putting a squeeze on its rivals in Iran and Russia. For the United States, the news is mixed. American oil production is soaring, and lower prices could slow production of shale oil, which is expensive and needs higher prices to be profitable. But lower oil prices mean reduced costs for consumers and businesses and a boost for economies across the industrialized world. The large increase in American production is, in fact, one reason cited for the drop in prices. The other is a continuing slump in demand in Europe and other developed regions and slower growth in China. Russia has sniffed an American-led plot, with articles in the government press recalling how a sharp increase in Saudi production in 1985 caused prices to drop so low that the Soviet economy folded, followed by the Soviet state. Regardless of whether oil ministers at the next OPEC meeting decide to reduce production and nudge prices up, the fact is oil prices will always vary in response to political crises, economic trends and natural disasters. For now, it is enough to see petro-dictators at least temporarily humbled and forced to understand that oil riches do not give them license to bend the international order to their will. And it is good for all countries to get some juice into their economies. But it is imperative that the United States and all other beneficiaries resist the temptation to use what could be a fleeting drop in prices to slow the search for alternative sources of energy. The planet, alas, does not have the resilience of oil prices.

INTELLIGENCE/MARC LAMBRON

Crisis Aside, It’s Still France Paris It’s amusing to note that as soon as France receives good news, the rest of the world reacts like a pessimistic doctor. The recent awarding of two Nobel Prizes to Frenchmen — Patrick Modiano for literature and Jean Tirole for economics — triggered another round of French bashing. Is the country on its deathbed? Is its decline irreversible? The details of France’s crisis are well known, and they are serious problems. Our social and economic model worked beautifully between 1945 and 1975, years of reconstruction and prosperity. The French welfare state was one of the most generous in the world. Waves of immigrants, in particular those from North Africa, were integrated into a prosperous economy. For the rest of the world, French grandeur was personified by General de Gaulle. France asserted itself as a nuclear power, invented the supersonic plane Concorde and submitted a balanced budget every year. It was Marc Lambron is a writer and a member of the French Academy. This column was translated from the French by Philippe Gélie. Send comments to intelligence@nytimes.com.

When the American secretary of state, John Kerry, began his effort to forge an Israeli-Palestinian peace, I argued that it was the last train for a twostate solution. If it didn’t work, it would mean the diplomatically constructed two-state concept was over as a way out of that conflict. For Israelis and Palestinians, the next train would be the one coming at them. That train first appeared in the Gaza war and could soon be rounding the bend in the West Bank. A couple of weeks ago, an East Jerusalem Palestinian killed a 3-month-old Israeli baby and wounded seven others when he deliberately rammed his car into a light rail station. Can a bigger collision be averted? It can only come from Israelis and Palestinians acting on their own, directly with one another, to convert what is now an “unhealthy interdependency” into a “healthy interdependency.” Actually, a model already exists among Israeli, Palestinian and Jordanian environmentalists and the example they set is the best hope for the future. Here’s why: The Israeli right

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the France of my childhood. In the last 30 years or so, the situation has deteriorated. France started to live beyond its means. Public expenditures for social programs rose drastically, and resorting to loans to pay for it all has put the country deep in debt. The pact the Republic had with its citizens doesn’t work well anymore, in particular in suburbs where a population of immigrants feels rejected and is ripe to be recruited by Islamic fundamentalists. The French are jealous of Germany. Many French people hoped that François Hollande would undertake the reforms the country needs. He was a man with a strong economic background, a socialist in his 50s who could have embodied progressive modernism. But President Hollande hasn’t freed himself from his party dogmas — one of the last political movements in the world cultivating nostalgia for the Marxist worldview. With more taxes, more public grants, the protective state has become a devouring state that confiscates and squanders the country’s resources. The French left continues to promote a fetal relationship with the real world: a citizen’s life is like that of an embryo sheltered in a nourishing mother, the state, being

fed a diet of subsidies through the umbilical cord. We’re still awaiting the moment when the child will be born to the world. And yet, living in France remains desirable. The country has one of the highest birthrates in Europe. It is the foremost tourist destination in the world, a reflection of the appeal of a certain refinement à la française. In the past few weeks, French culture has had triumphs beyond Mr. Modiano’s Nobel Prize; the magnificent Picasso Museum has just reopened in Paris, a reminder of a time not so long ago when artists from all over the world, from Foujita to Hemingway, Neruda to Chagall, wanted to live in France. The French emperor of luxury goods, Bernard Arnault, has inaugurated his Louis Vuitton Foundation, an impressive center for contemporary culture designed by Frank Gehry. One aspect of the French crisis is the excessively somber way France, through its media, tends to see itself. This complacently bereaved vision of France is in large part a journalistic construction that appeared during Nicolas Sarkozy’s presidency. Since most French journalists are left-wingers, they have shifted from bashing the former president to adopting a pessi-

THOMAS L. FRIEDMAN

The Last Train today, led by Prime Minister Bibi Netanyahu, has some strong arguments for maintaining the status quo — arguments that in the long run are deadly for Israel as a Jewish democratic state. Israel today is surrounded on four out of five borders — South Lebanon, Gaza, Sinai and Syria — not by states but by militias, dressed as civilians, armed with rockets and nested among civilians. That is not a scene that inspires risk-taking on the West Bank. The fact that Israel unilaterally withdrew from Gaza in 2005 and Hamas took over there in 2007 and then devoted most of its energies to fighting Israel rather than building Palestine also does not inspire risk-taking to move away from the status quo. In March, President Obama personally, face-to-face, offered compromise ideas on key sticking points in the Kerry framework to the Palestinian president, Mahmoud Abbas, and asked him point blank if he would accept them. Obama is still waiting for an answer. So the status quo prevails. But this is no normal status quo. It gets more toxic by the day. If Israel retains the West Bank and its 2.7 million Palestinians, it will be creating an even bigger multisectarian, multinational state in its belly, with one reli-

gion/nationality dominating the other — exactly the kind of state that is blowing up in civil wars everywhere around it. Also, the longer this status quo goes on, the more Israel’s settlement expansion in the West Bank goes on, fostering more Israeli delegitimization on the world stage. Right after the Gaza war, in which the United

An environmental example of how to get along. States basically defended Israel, Israel announced the seizure of around 400 hectares of West Bank land for settlements near Bethlehem. “No worries,” Israeli officials said, explaining that this is land that Israel would keep in any two-state deal. That would be fine if Israel delineated the area Palestinians would get — and stopped building settlements there, too. But it won’t. Is anyone trying to build healthy interdependencies? Recently, I had a visit from EcoPeace Middle East, led by Munqeth Mehyar, a Jordanian

mistic tone in principle, understanding that the Apocalypse sells. As a result, President Hollande is hunted with cartridges manufactured to shoot his conservative predecessor. This compulsion has set in motion a mimetic echo in the international press. But what newspapers write about France does not jibe with the experiences or attitudes of most people who call France home. My fellow citizens are far more resourceful, courageous and elegant than what’s written about them. And most foreign visitors don’t leave France with memories of a journey in a ghost nation. So the theme of the day is not merely the French crisis, it is the dramatized construction by the media of a gruesome soap opera intended to sell more copies. The journalistic caste is not afraid of stigmatizing politicians it loathes and envies, wielding power over public opinion. “Emphasize the negative,” it sings. In the end, it all depends on perspective. If you consider life in terms of assets to be earned, France is certainly not the best country to make a fortune. But if you consider life in terms of taste, there still is a French exception that remains enigmatic, if not irritating, to the rest of the world.

architect; Gidon Bromberg, an Israeli environmental lawyer; and Nader al-Khateeb, a Palestinian water expert. They came to Washington to warn of the water crisis in Gaza. With little electricity available to desalinate water or pump in chlorine — and Gazans having vastly overexploited their only aquifer — seawater is now seeping in so badly that freshwater is in short supply. Untreated waste is being dumped into the Mediterranean, where it moves north with the current, threatening drinking water produced by Israel’s desalination plant in Ashkelon. It is all one ecosystem. Everyone is connected. Up north, though, EcoPeace helped to inspire Israeli, Palestinian and Jordanian mayors to rehabilitate the Jordan River, which they had all turned into an open sewer. Since 1994, Jordan has stored water in the winter from its Yarmouk River in Israel’s Sea of Galilee, and then Israel gives it back to Jordan in the summer. It shows how “prior enemies can create positive interdependencies once they start trusting each other,” Bromberg said. And that is the point. The only source of lasting security is not walls, rockets or United Nations votes. It’s relationships of trust between neighbors that create healthy interdependencies — ecological and political. They are the hardest things to build, but also the hardest things to break once in place.

THE NEW YORK TIMES IS PUBLISHED WEEKLY IN THE FOLLOWING NEWSPAPERS: CLARÍN, ARGENTINA n DER STANDARD, AUSTRIA n LA RAZÓN, BOLIVIA n A TARDE, FOLHA, GAZETA DO POVO, JORNAL O POVO AND O LIBERAL, BRAZIL n GUELPH MERCURY, THE HAMILTON SPECTATOR, TORONTO STAR AND WATERLOO REGION RECORD, CANADA n LA SEGUNDA, CHILE n EL ESPECTADOR, COLOMBIA n LISTIN DIARIO, DOMINICAN REPUBLIC n LE FIGARO, FRANCE n SÜDDEUTSCHE ZEITUNG, GERMANY n PRENSA LIBRE, GUATEMALA n LA REPUBBLICA, ITALY n ASAHI SHIMBUN, JAPAN n DIARIO DE YUCATÁN, EL NORTE, EXPRESO, MURAL, REFORMA AND SÍNTESIS, MEXICO n EL NUEVO DIARIO, NICARAGUA n NEW TELEGRAPH, NIGERIA n LA PRENSA, PANAMA n CORREO, PERU n MANILA BULLETIN, PHILIPPINES n TODAY, SINGAPORE n EL PAÍS, SPAIN n UNITED DAILY NEWS, TAIWAN n THE OBSERVER, UNITED KINGDOM n THE DALLAS MORNING NEWS, UNITED STATES

MONDAY, NOVEMBER 3, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

WORLD TRENDS

Migrant Disaster Seen as Murder By JIM YARDLEY

DANIEL BEREHULAK FOR THE NEW YORK TIMES; BEOW, SAMUEL ARANDA FOR THE NEW YORK TIMES

In the Vanguard of Ebola Fight A Doctors Without Borders vehicle taking an Ebola survivor home in Sierra Leone. Top, a treatment center in Liberia.

This article is by Sheri Fink, Adam Nossiter and James Kanter.

When the Ebola virus began spreading in Sierra Leone, officials made an urgent plea to Doctors Without Borders, all that appeared to stand between the country and chaos. “They asked us to be everywhere,” recalled Walter Lorenzi, the medical charity’s former coordinator in Sierra Leone. “They didn’t know what to do.” The group opened a treatment center in Kailahun that was hacked out of the bush in just 12 days. Doctors Without Borders remains the primary group battling Ebola in West Africa. As local health systems have all but collapsed, the charity has erected six treatment centers and treated most patients. But it, too, has been stretched. While also maintaining its outposts in war zones and other danger areas, the group has pushed in recent weeks to do more in the Ebola epidemic — tripling its staff on the ground and offering guidance to others joining the fight. “We decided to scale up; we decided to do things we’ve never done before,” said Dr. Joanne Liu, the international president of the group, which is also known as Médecins Sans Frontières. The group’s state-of-the-art supply depot in Brussels has sent hundreds of thousands of masks, protective suits, large tents and medical supplies to West Africa in recent months. To overcome obstacles, the Brussels logistics team is innovating — developing field tents rigged so workers do not get overheated, retrofitting body bags to absorb infectious fluids and seeking fast ways to dry wet boots that must be regularly disinfected. Specialists in Brussels designed treatment centers that are laid out with single entry and exit points, strict separation of high risk and low risk areas, and space for health workers in a buddy system to watch over one another while removing contaminated protective gear. And the group has drawn on its legions of volunteers and bil-

lion-dollar base of donors who are attracted by its insistence on independence and record of providing care in places where often no one else dares to go. Other aid organizations occasionally grumble about cockiness among Doctors Without Borders workers, safety protocols so rigorous they can seem like overkill and a focus on immediate help that does little to buttress local health systems over the long term. But the organization, which won the Nobel Peace Prize in 1999, usually delivers. The group emerged in the late 1960s, as

Doctors Without Borders evolves during an outbreak. Nigerian forces fought a secessionist struggle in Biafra. When the government refused to allow French Red Cross doctors to deliver food to the famine-stricken rebel territory, they revolted, breaking their Red Cross pledge of neutrality and silence. Médecins Sans Frontières was created to tend to people wherever they suffered. Most of its $1.3 billion in donations last year came from private individuals; just 9 percent came from governments. The charity

sent about 6,000 health, logistics and other experts to 67 countries last year, and hired 30,000 local workers. This year, those numbers are swelling. In the Ebola outbreak, the requests from the field attest to the the organization’s grim labor: patient wristbands with bar codes that can withstand repeated dousing with chlorine, an industrial-strength vacuum cleaner to suck up contaminated fluids, a cart designed to move bodies in rough terrain. The team is sending out computers that work in the bush so patients can share final words with their families. And it is providing 70,000 disinfection kits to patients’ families and others, including every taxi driver in Monrovia. “Ebola is like having an earthquake that never stops,” said Jean Pletinckx, 47, the logistics chief. “It is a constant emergency for the supply chain.” The group is deciding where to go next in Sierra Leone, Makeni or Freetown. In Liberia, the worst-hit country, the group is working to improve its 250-bed center in Monrovia. The center had stopped putting in intravenous lines for patients to combat dehydration because of safety risks for health workers. “We’re very aware of the kind of compromises we’re having to make,” said Christopher Stokes, general director of the organization’s Belgium office. “We’re trying to put a boost on quality.”

VALLETTA, Malta — Only four of the survivors remained. Two sets of Palestinian brothers, adrift in the Mediterranean. The Awadallah brothers were delirious. Mohammed saw vampires and Ibrahim kept removing his life jacket, imagining himself at home in Gaza. Nearby, Mamoun Doghmosh, 27, propped up his brother, Amin, 24, who was hallucinating. Nearly four days had passed since their overcrowded migrant boat had capsized on September 9, after being rammed by another vessel following an apparent quarrel between smugglers. At least 300 people, trying to reach Europe, are estimated to have died. For those few who survived, an enduring memory would be the ruthlessness of the smugglers. “They wanted to kill us,” said Mohammed Awadallah, 23. “They started circling us, laughing at us.” Smuggling refugees and migrants across the Mediterranean into Europe has become a hugely profitable, if deadly, enterprise, with more than 3,000 people believed to have died so far this year. One United Nations official estimated that in 2014 smugglers on those routes would gross more than $1 billion. The journey of the Awadallah and Doghmosh brothers — involving an elaborate network of smugglers, bus drivers and safe houses — illustrates how quickly these human smuggling routes have coalesced in response to upheaval in the Arab world. For each of the four men, who were trying to reach relatives in Sweden, the cost was roughly $4,000. “We got the number for Abu Sharaf,” said Mohammed Awadallah. Several people identified Abu Sharaf Al-Massri as a smuggler. His cousin, Samir Al-Massri, said Abu Sharaf was connected with smugglers in Egypt, who arranged for transportation and safe houses through the Sinai to the Egyptian coast and, finally, onto boats. The Awadallahs spent three hours crawling and nine hours waiting at the Egyptian end for a signal to exit. There, a smuggler opened the hatch, even as Egyptian border guards started firing. “He started shouting, ‘Run! Run! Run!’ ” Mohammed Awadallah recalled. They ran until smugglers pushed them into a car. For days they were shuttled, finally into a building filled with hundreds of migrants in a city that they assumed was Alexandria. As many as one million migrants were hiding on the North African coast, from Libya to Egypt, during the peak summer months, waiting for Merna Thomas contributed reporting from Damietta, Egypt; and Fares Akram from Gaza.

boats. The Awadallah and Doghmosh brothers say they used a ring run by a smuggling boss known as Abu Hamada. Over the next three days they were transferred onto a succession of boats, each more crowded than the last. “They treated us like animals,” said Mohammed Awadallah. Finally, a rickety wooden boat, even smaller, appeared. The brothers said the captain called to complain to the smuggling boss in Egypt about the unsafe boat. It was September 9. Another boat appeared, with an Egyptian crew that began shouting at the captain and throwing metal objects at him. Then the larger boat pulled parallel and turned, ramming its nose into the hull of the migrant boat, flipping it over. Soon, dead bodies were floating in the water, as survivors grabbed life jackets. Mamoun Doghmosh desperately searched for his nephews. Both would die. For the next three days, the group steadily dwin-

LYNSEY ADDARIO FOR THE NEW YORK TIMES

Mamoun Doghmosh, foreground, and Ibrahim and Mohammed Awadallah of Gaza tried to migrate to Sweden. dled. Some people broke off into smaller groups and floated away. Two people were later found and taken to Italy; a few more survivors were rescued and taken to Crete. By September 12, only the Awadallahs and the Doghmoshes remained. Finally, they saw a light. The Antarctica, an oil tanker, had received a call from Maltese officials providing coordinates to join rescue efforts for a capsized migrant boat. The brothers were brought on board, but only three had survived. Amin Doghmosh had died. Today, the three survivors are living in a migrant center and trapped in bureaucratic limbo in Malta. They want to reach a country that will provide them asylum, perhaps Sweden or Canada or Australia.“We need help,” said Mamoun Doghmosh. Mamoun has since spoken to his family in Gaza, and they have asked about the condition of Amin and the young nephews. “I can’t tell them,” he said, his eyes turning red. “What am I going to say?”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, NOVEMBER 3, 2014

WORLD TRENDS

Before Beheadings, Sessions of Torture

When Positive Thinking Backfires The dangers of stress are well-documented — sleep loss, anxiety, depression, stomach problems, obesity, headaches. We have long been warned that stress could LENS be killing us. But some of us may be at risk of the opposite: being bored to death. Recent research shows that being underworked can be as unhealthy as being overworked, Alina Tugend reported in The Times. “In essence, boredom is stressful,” she wrote. “We tend to think of stress in the original engineering way, that too much pressure or too much weight on a bridge causes it to collapse,” Paul E. Spector, a professor of psychology at the University of South Florida, told The Times. “It’s more complicated.” Professor Spector and other researchers say too little work (called underload), can cause problems associated with stress: muscle tension, stomachaches and headaches. A study published this year in the journal Experimental Brain Research found that subjects watching a boring movie — men hanging laundry — showed greater signs of stress than those watching a sad movie. James Danckert, a professor of neuroscience at the University of Waterloo in Ontario, Canada, and a co-author of that paper, said boredom is not so much laziness as the profound inability to engage with the environment. For comments, write to nytweekly@nytimes.com.

Continued from Page 23 otherwise so wealthy that “you can’t tell who is rich and who isn’t.” He says his four roommates have helped him adjust to Boston life. But he is still trying to figure out an American culture that is more frenetic and obstreperous than that in his homeland. “People work hard for everything,” he said. “They do things fast, and they move fast. They tell you the truth; they tell you their experiences and their reservations. In Rwanda, we have a different way of talking to adults. We don’t shout. We don’t be rowdy.” Mr. Uwayesu was only 3 when his parents, both illiterate farmers, died in a slaughter that killed some 800,000 people in 100 days. Red Cross workers rescued him with a brother and two sisters and cared for them until 1998, when the growing tide of parentless children forced workers to return them to their village.

Continued from Page 23

ANGEL FRANCO/ THE NEW YORK TIMES

For the king of beasts, another boring day at the zoo may be stressful instead of relaxing. “It’s aggressively dissatisfying,” he told The Times. Professor Spector and his colleagues say that the stress of boredom at work can lead to calling in sick, taking long breaks, spending time on the Internet, gossiping about colleagues, playing practical jokes or even stealing. Most workers engage in those activities, but those who are bored do it more often. So the trick is to manage stress, and it seems that women are better at that than men, at least in some situations. “Neuroscientists have uncov-

Problems associated with stress can also come from boredom. ered evidence suggesting that, when the pressure is on, women bring unique strengths to decision making,” Therese Huston, a cognitive psychologist at Seattle University, wrote in The Times. Researchers set up a variety of situations in which subjects were forced to gamble, and came up with similar findings: Men took more risks when stressed, trying to score big wins, even when they were costly and less likely. Ruud van den Bos, a neurobiologist at Radboud University in the Netherlands, and his col-

leagues discovered that risk-taking under pressure is stronger in men who experience a larger spike in cortisol, a hormone associated with stress, Professor Huston reported. But a slight increase in cortisol seemed to help women with decision-making. In a 2007 study in which men and women were both exposed to a stressful event, Stephanie D. Preston, a cognitive neuroscientist at the University of Michigan, found that women tended to look for smaller, surer wins as time grew shorter. For men, their decision-making became more questionable as the deadline approached, and they were less aware that they had pursued a risky strategy. Too much positive thinking can be a risky strategy as well, at least according to Gabriele Oettingen, professor of psychology at New York University and the University of Hamburg. Professor Oettingen and her colleagues have performed numerous studies showing that people who fantasized about happy results were less likely to realize their dreams. Dreaming about the future helps people calm down and reduces systolic blood pressure — in essence, lowering stress levels — but that means they have less energy to achieve their goals. “Positive thinking fools our minds into perceiving that we’ve already attained our goal,” she cautioned, “slackening our readiness to pursue it.” TOM BRADY

British photojournalist John Cantlie, were heading to Turkey when they stopped at an Internet cafe to file their work. The two were no strangers to the perils of reporting in Syria. Only a few months earlier, Mr. Cantlie had been kidnapped a few dozen miles from near Binesh. He had tried to escape, barefoot and handcuffed, running for his life as bullets kicked up the dirt, only to be caught again. He was released a week later after moderate rebels intervened. At the cafe, Mr. Foley and Mr. Cantlie were uploading their images when a man walked in. “He had a big beard,” said Mustafa Ali, their Syrian translator, who was with the Westerners and recounted their final hours together. “He didn’t smile or say anything. And he looked at us with evil eyes.” The man “went to the computer and sat for one minute only,” Mr. Ali said. “He wasn’t Syrian. He looked like he was from the Gulf.” Mr. Foley, an American freelance journalist filing for GlobalPost and Agence France-Presse, and Mr. Cantlie, a photographer for British newspapers, continued transmitting, according to Mr. Ali, whose account was confirmed by emails the journalists sent that day. More than an hour later, they flagged a taxi for the 40-kilometer drive to Turkey. They never reached the border. The gunmen who sped up behind their taxi did not call themselves the Islamic State because the group did not yet exist on November 22, 2012, the day the two men were grabbed. Kidnappings, carried out by groups of fighters jousting for influence in Syria, became more frequent. In June 2013, four French journalists were

From a Dump in Rwanda to Harvard They arrived as a drought and famine gripped their home province. “I was malnourished,” Mr. Uwayesu said. “My brother would tell me, ‘I’m going out to look for food,’ and then he would come back without it.” In 2000, Justus and his brother walked to Kigali, Rwanda’s capital and a city of about one million, in search of food and help. Instead, they wound up at Ruviri, a sprawling garbage dump on the city’s outskirts that was home to hundreds of orphans and herds of pigs. Justus found a home with two other children in an abandoned car. For the next year and a half, he said, he was consumed by the search for food and shelter. “There was no shower, no bathing at all,” he said. He learned to spot trucks from hotels that

carried castoffs, and to grab the food before they discharged their loads to other orphans. Mr. Uwayesu said he was once nearly buried alive by a bulldozer pushing mounds of garbage into a pit. He spent nights in terror that a tiger said to roam the dump would attack him (there are no tigers in Africa). Begging on the streets, he saw a world that was beyond him. “At noon,” he said, “kids would be coming back from school in their uniforms, running and playing in the road. Sometimes they would call me nayibobo” — literally, forgotten child. “It was a really dark time, because I couldn’t see a future,” he said. “I couldn’t see how life could be better, or how I could come out of that.” The charity that Ms. Effiong

founded, Esther’s Aid, based outside New York, decided in 2000 to devote its efforts to helping Rwanda’s orphans. One day in 2001, after delivering a container of food and clothing, she spotted Justus and other orphans and offered to take them to a safe place. “I took him to where I was, cleaned him up, changed his clothes, dressed the wounds on his body and eventually sent him to primary school,” she said. In first grade, he finished at the top of his class. He earned straight A’s in high school, and a seat in a high school specializing in the sciences. Mr. Uwayesu moved into an orphanage run by Esther’s Aid, then, with two sisters, into the compound where Ms. Effiong lives while in Kigali. He worked at the charity, which since has

abducted. A growing number of foreign fighters were flooding into Syria, dreaming of establishing a “caliphate.” These jihadists, many of them veterans of Al Qaeda’s branch in Iraq, looked and behaved differently from the moderate rebels. They wore their beards long. And they spoke with foreign accents, coming from the PersianGulf, North Africa, Europe and beyond. Yosef Abobaker, a Syrian translator, drove Steven J. Sotloff, an American freelance journalist, into Syria on August 4, 2013. “They must have had a spy on the border that saw my car and told them I was coming,” Mr. Abobaker said. (He was released two weeks later.) In October, Peter Kassig, 25, an emergency medical technician from Indianapolis, Indiana, was abducted at a checkpoint. And in December, Alan Henning, a British taxi driver who had bought an ambulance hoping to join an aid caravan, disappeared at another checkpoint. He had been in Syria 30 minutes.

American Named Hamza “You could see the scars on his ankles,” said Jejoen Bontinck, 19, of Belgium, who spent three weeks in the summer of 2013 in the same cell in Aleppo as Mr. Foley. “He told me how they had chained his feet to a bar and then hung the bar so that he was upside down from the ceiling,” said Mr. Bontinck, a convert to Islam. “Then they left him there.” Mr. Bontinck, who was released late last year, is now on trial on charges of belonging to a terrorist organization. He said that during the time they were together, when the call to prayer sounded, he, Mr. Foley and Mr. Cantlie all stood. Mr. Foley had converted to Islam soon after his capture and

opened a cooking school for girls and is building a campus for orphans. He would not have been able to compete for a spot in an American university without outside help, however. He won a seat in a yearlong scholars program, Bridge2Rwanda, run by a charity in Arkansas that prepares students for the college-application process. For the past decade, Harvard’s international admissions director has scoured Africa for applicants each year. But until this year, the Cambridge campus had only one Rwandan student, Juliette Musabeyezu, a sophomore. No more. Of the 25 or so African applicants who made this year’s cut, three are from Rwanda, including a second Bridge2Rwanda scholar. A photograph of Rwanda’s Harvard contingent appears on Ms. Musabeyezu’s Facebook page. The caption reads: “My people are finally here.”

MONDAY, NOVEMBER 3, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

WORLD TRENDS

FROM LEFT: DANNY LAWSON/PA WIRE; ETIENNE DE MALGLAIVE VIA GETTY IMAGES; VIA ASSOCIATED PRESS

EXECUTED Militants beheaded David Cawthorne Haines from Britain; Steven J. Sotloff, in black helmet, an American; and Alan Henning, also from Britain. adopted the name Abu Hamza, Mr. Bontinck said. (His conversion was confirmed by others.) “I recited the Quran with him,” Mr. Bontinck said. “Most people would say, ‘Let’s convert so that we can get better treatment.’ But in his case, I think it was sincere.” Only a handful of the hostages stayed true to their own faiths, including Mr. Sotloff, then 30, a practicing Jew. On Yom Kippur, he told his guards he was not feeling well and refused his food so he could secretly observe the traditional fast, a witness said. Those recently released said that unlike the Syrian prisoners, who were chained to radiators, Mr. Foley and Mr. Cantlie were able to move freely in their cell. Mr. Bontinck said he asked the prison’s emir, a Dutch citizen, whether the militants had asked for a ransom for the foreigners. He said they had not. “He explained there was a Plan A and a Plan B,” Mr. Bontinck said. The journalists would be put under house arrest, or they would be conscripted into a jihadist training camp. When Mr. Bontinck was released, he thought that the journalists would soon be freed.

A Terrorist State Arises The Syrian civil war, previously dominated by secular rebels and a few rival jihadist groups, was shifting decisively, and the new extremist group had taken a dominant position. Sometime last year, the battalion in Aleppo pledged allegiance to what was then called the Islamic State in Iraq and Syria. Other factions of fighters joined forces with the group and began pooling their prisoners. By January, there were at least 19 men in one 20-square-meter cell and four women in an adjoining one. All but one of them were European or North American. More worrying was the fact that their French-speaking guards were replaced by English-speaking ones. Mr. Foley recognized them as those who had called him “naughty” during the worst torture in a pervious location. They were the ones the hostages called the Beatles. They instituted a strict security protocol. When they approached the cell holding Marcin Suder, a Polish photojournalist, they called out “arba’een”: Arabic for the number 40. That was his cue to face the wall so that when the guards entered, he would not see their faces. After months of holding the hostages without making any

demands, the jihadists devised a plan to ransom them.

Triage and Negotiations By December, the militants had exchanged several emails with Mr. Foley’s family and the families of other hostages. After the first proof-of-life questions, Mr. Foley was hopeful that he would be home soon. As his second Christmas away from home approached, he organized a gift exchange, a tradition in the Foley household. Each prisoner gave another a gift fashioned out of trash. Mr. Foley received a circle made from the wax of a discard-

“They started with the Spanish.” As the negotiations for the Spanish prisoners progressed, the militants moved on to the four French journalists. The European prisoners went from answering additional personal questions to filming videos to be sent to their families or governments. The videos eventually included death threats and execution deadlines in an effort to force their nations to pay. In one video, the militants lined up the French hostages in bright orange uniforms, mimicking those worn by prisoners at the United States’ facility in

was repeatedly waterboarded. Meant to simulate drowning, the procedure can cause the victim to pass out. “It was when there was no blood,” a former cellmate said, “that we knew he had suffered something even worse.” In one basement, the hostages’ only illumination was the finger of sunlight that stretched under their door. After dusk, they could not see anything. Most of the locations had no mattresses and few blankets. Some of the prisoners took discarded pants, tied one end and filled the trouser legs with rags to create makeshift pillows.

RELEASED Javier Espinoza of Spain being greeted by his son. Mr. Espinoza was among European hostages whose freedom was won when ISIS ransom demands were met.

REUTERS/PACO CAMPOS/POOL

ed candle to cushion his forehead when he bowed down to pray. As the weeks passed, Mr. Foley noticed that his European cellmates were invited outside again and again to answer questions. But the Americans and Britons were not. Soon, the prisoners realized that their kidnappers had identified which nations were most likely to pay ransoms, a former hostage said. “The kidnappers knew which countries would be the most amenable to their demands, and they created an order based on the ease with which they thought they could negotiate,” one said.

Guantánamo Bay, Cuba. They also began waterboarding a select few, just as C.I.A. interrogators had treated Muslim prisoners at so-called black sites during the George W. Bush administration, former hostages and witnesses said. The three American men and the three British hostages were singled out for the worst abuse, both because of the militants’ grievances against their countries and because their governments would not negotiate. The person who suffered the cruelest treatment, former hostages said, was Mr. Foley, who underwent mock executions and

The prisoners turned on one another. Fights broke out. Mr. Foley shared his meager rations and offered another prisoner his only blanket. He kept the others entertained, proposing activities like Risk, a board game that involves moving imaginary armies across a map.

Hostages’ Fates Sealed This spring, the hostages were moved to Raqqa, the capital of the Islamic State’s self-declared caliphate. Mr. Foley watched as his cellmates were released in roughly two-week increments. It was hard to stay hopeful but Mr. Fo-

ley, who had campaigned for President Obama, continued to believe his government would come to his rescue, said his family, who learned this from recently freed hostages. On May 27, the few remaining hostages were reminded that different passports spelled different fates. Those who had been taken together were, in most cases, released together. Not so for the Italian and British aid workers for the Agency for Technical Cooperation and Development, a small French organization, who were grabbed near the Turkish border after returning from a refugee camp where they had gone to deliver tents. In late May, the Italian, Federico Motka, was told he could go, according to a fellow captive, allegedly after Italy paid a ransom. (The Italian government denied the claim.) But his British co-worker, David Cawthorne Haines, was beheaded in September after being forced to read a script blaming the British government for his death. Fifteen hostages were freed from March to June for ransoms averaging more than two million euros, the former captives and those close to them said. By June, only seven hostages remained — four were Americans and three were British — all citizens of countries whose governments had refused to pay ransoms. In an article recently published in an official Islamic State magazine, the jihadists described the American-led airstrikes that began in August as the event that sealed the hostages’ fate. In August, when the militants came for Mr. Foley, they made him slip on a pair of plastic sandals. They drove him to a bare hill outside Raqqa. They made him kneel. He looked straight into the camera, his expression defiant. Then they slit his throat. Two weeks later, a similar video surfaced on YouTube showing Mr. Sotloff’s death. In September, the militants uploaded Mr. Haines’s execution. In October, they killed Mr. Henning. Across Europe, those who had survived gasped when they saw the images of Mr. Foley’s death: The cheap plastic flip-flops splayed next to his body were the same pair the prisoners had shared. They had all worn those sandals to the bathroom. Those who survived had walked in the same shoes as those who did not.

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, NOVEMBER 3, 2014

WORLD TRENDS

Artists Paying Price For Roles in Protests By AMY QIN and ALAN WONG

Outspoken Hong Kong stars may be on a blacklist.

RODONG SINMUN/EUROPEAN PRESSPHOTO AGENCY

Kim Jong-un reappeared in public and was said to have ordered an American freed.

North Korea Turns to Charm By MARK LANDLER

WASHINGTON — For weeks, American intelligence agencies puzzled over the mysterious disappearance of Kim Jong-un, the North Korean dictator. Now Mr. Kim is back on the public stage — a walking stick in his left hand — and it is the State Department’s turn to puzzle. A series of gestures by the North Korean leader, most dramatically the recent release of an imprisoned American tourist, Jeffrey E. Fowle, has raised hopes that after two and a half years of bellicose rhetoric, punctuated by periodic missile tests, Mr. Kim is groping for some kind of rapprochement with the United States and its allies. It has been a multifront charm offensive: North Korea unexpectedly sent a high-level delegation to South Korea to attend the closing ceremonies of the Asian Games. It dispatched a senior envoy to the European Union to voice an interest in dialogue, and another to the wood-paneled confines of the Council on Foreign Relations in New York, where he sparred with an establishment crowd over North Korea’s human rights record. North Korea said Mr. Kim had personally ordered Mr. Fowle’s release after considering requests from President Obama. With Mr. Obama traveling to Beijing soon for a meeting of Pacific Rim leaders, that could be interpreted as an olive branch to both the United States and China, which is fed up with Pyongyang’s provocations but weary of American demands to pressure its hermetic neighbor. “This is either Kim Jong-un on his own, or the people around him saying, ‘We’ve got to change this paradigm, because it is not working,’ ” said Joseph R. DeTrani, president of the Intelligence and National Security Alliance, an industry group. Secretary of State John Kerry took note of the shift in the dip-

lomatic winds. On a recent visit to Germany, he said, “We hope that the dynamics can develop in the next weeks, months perhaps, where we could get back to talks.” American officials played down any suggestion that the United States saw an opening for engagement. North Korea policy, they said, has not changed: There will be no return to negotiations unless Pyongyang commits to relinquishing its nuclear arsenal. Though the United States won the release of Mr. Fowle, who was arrested as he tried to leave North Korea after leaving a Bible behind, it is still demanding the release of two other Americans: Kenneth Bae, who has been sentenced to 15 years of hard labor after being accused of plotting to overthrow the government; and Matthew Todd Miller, who

New gestures and continuing mystery from Kim Jong-un. was given six years of hard labor after being charged with spying. Guessing whether Mr. Kim is trying another in a series of charm offensives that eventually burn out, or seeking a genuine shift in North Korea’s relations with the world, is all but impossible. Still, his actions could revive a debate over North Korea policy inside the White House that has been dormant since 2012, when the United States made a brief, ill-fated bid for a deal with Pyongyang. The administration has returned to its policy, known as “strategic patience,” which can be summed up as trying to outlast the regime by granting it no concessions upfront and staying in sync with its neighbors.

The trouble is, those countries may be softening their stances, too. South Korea warily welcomed North Korea’s number-2 official, Hwang Pyong-so, when he turned up at the Asian Games. Japan’s prime minister, Shinzo Abe, is exploring direct talks with Pyongyang on the fraught issue of Japanese citizens who were abducted by North Korea in the 1970s and ’80s. China has long encouraged the United States to keep talking to North Korea, even as President Xi Jinping has grown deeply restless with the young dictator next door, snubbing him in July by visiting South Korea on his first presidential visit to the Korean Peninsula. For Mr. Xi, a return to diplomacy with North Korea would be a tangible accomplishment of his meeting with Mr. Obama at the Asia-Pacific Economic Cooperation forum in Beijing. “The American missionary is a pawn in a larger game,” said Michael J. Green, who served as a senior adviser on Asia during the George W. Bush administration. Mr. Fowle’s release, he said, “may have been done in that context to ease the Americans and others back to a less-conditional resumption of the talks, which Pyongyang will argue is de facto acceptance of their new nuclear weapons status.” Mr. Green said he was dubious that Mr. Kim would ever give up his nuclear weapons. If the administration shifted to a policy of engagement, he said, that could provoke Republicans in Congress, who are already worried that the United States will offer too many concessions to seal a nuclear agreement with Iran. “It’s a tricky game for the administration,” he said. Joel S. Wit, the founder of 38North, a website that follows the country, said, “It’s amazing how all these people who talk about how mysterious North Korea is seem so sure about what they are doing.”

BEIJING — On the night of October 4, at one of the largest pro-democracy rallies in Hong Kong, Denise Ho, a local pop singer, performed a new song, “Raise the Umbrella,” a reference to the ubiquitous umbrellas that protesters have used to Basic Law, and earned fistfuls ward off pepper spray. Tens of of cash only to then turn and thousands waved their lighted scold your motherland,” said cellphones in the air, ecstatic. the commentary, singling out But it is unlikely that Ms. Ms. Ho, Mr. Wong and a Hong Ho will be singing that song in Kong actor, Chapman To. “Is mainland China, where, she this how you treat the counsaid the other day, she gets about 80 percent of her income, try that gave birth to you and mostly from performances. raised you?” She has had no invitations to “Chapman To and all, don’t perform there since the sumthink that you can eat our food and smash our pots at the mer, when she began publicly same time,” the commentary showing support for the pro-dewarned. mocracy movement. A fashion It is unclear how strictly a brand recently canceled a job blacklist, if one even exists, with her, giving no particular would be enforced. For exreason, she said. Anthony Wong, another ample, the state broadcaster Hong Kong singer, said that CCTV has gone ahead with a two November shows in mainshowing of “Mr. Cinema,” a 2007 film starring Anthony land China had been “indefiWong Chau-sang, an actor who nitely postponed” by concert was said to be on the blacklist. organizers, and that he had no But books by the popular Gidpending invitations to perform there. “I’m just guessing, but I think they are trying to ban us because they’re afraid of different views,” Mr. Wong sa id. “They fear that we would spread them. And of course it’s an attempt to punish us.” Mr. Wong, Ms. Ho and other artistic figures from Hong Kong and Taiwan — including actors like Chow Yun-fat and Tony Leung, and a filmmaker, Shu Kei — have been among PAUL YEUNG/REUTERS the most recognizAnthony Wong’s Chinese mainland able faces during the shows have been put on hold. protests that have occupied parts of the city for weeks. Arms of China’s state-run dens Ko have been pulled from news media have denounced the shelves of major bookstores them as disloyal to their counin mainland China. The protests have created a try. Photographs of a list condivide among the celebrities taining the names of Mr. Wong, in Hong Kong. Many have reMs. Ho and other artists were circulated on social media remained silent, and others have been outspoken in their criticenty. The list was said to be a blacklist sent to mainland news cism of the protests. In a mesmedia outlets and entertainsage posted on Sina Weibo, a Hong Kong film director, Wong ment companies, with instrucJing, declared that he was “untions not to mention or promote the stars. friending” Ms. Ho, Mr. To and An American celebrity, the Mr. Wong, the singer. jazz saxophonist Kenny G, ap“We have worked well topeared to stumble into the congether in the past and I respect your right to hold your own troversy when he posted online political views,” the director photos of himself at one of the wrote. “But I absolutely do not protest sites. The musician, agree. To avoid embarrasswho is popular in mainland China, later deleted the photos ment, your contact details will and issued statements saying be erased from my phone and they had not been meant to my computer.” show support for the demonMr. Wong has vowed to constrations. tinue supporting the protests. In a commentary, the state “It affects us a lot because news agency, Xinhua, hinted at much of my income comes from further consequences to come China, about more than half,” for the Hong Kong celebrities. he said. “But I think this is what “You have violated the prinwe have to do. Our markets there and money aren’t more ciples of ‘one country, two sysimportant than our need to tems,’ challenged the authority speak our mind.” of the central party, ignored the

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WORLD TRENDS

Chased by ISIS, Mosul’s Christians Flee to Jordan Radwan Shamra, with his son, Martin, 3, had hoped his Christian community could survive the sectarian war in Iraq.

By RANA F. SWEIS

AMMAN, Jordan — They were among the final holdouts. Even as many of their neighbors fled the violence that engulfed Iraq after the American invasion, the three men refused to give up on their country or their centuries-old Christian community. Maythim Najib, 37, stayed despite being kidnapped and stabbed 12 times in what he believed was a random attack. Radwan Shamra, 35, continued to hope he could survive the sectarian war between his Sunni and Shiite countrymen even after losing two friends shot by an unknown gunman and left in a Mosul street. And a 74-year-old too frightened to give his name said he remained despite the trauma of spending three anguished days in 2007 waiting to learn if his kidnapped 17-year-old son was dead or alive. Now all three men from Mosul, Iraq’s second-largest city, and its environs have fled with their families to Jordan, forced out by Islamic State fighters. After capturing the city in June, the Sunni militant group gave Christians a day to make up their minds: convert, pay a tax or be killed. It was “the last breath,” said Mr. Shamra, one of 4,000 Iraqi Christians from Mosul who have come to Jordan in the past three months and one of more than 50 people sheltering in St. Ephraim Syrian Orthodox Church in Amman. “We waited as long as possible until we knew we would die if we remained.” Their flight is part of a larger exodus of Christians leaving those Arab lands where religious intolerance is on the rise, a trend that has caused concern among Christians outside the region — including the pope. It has also captured the attention of King Abdullah II of Jordan, a close American ally who has made the case for the continued presence of multiple religions in the Middle East in recent years. So when fighters from the Islamic State, also known as ISIS

WARRICK PAGE FOR THE NEW YORK TIMES

ONLINE: JORDANIAN WELCOME

Images of Iraqi refugees living in a Christian church in Amman: nytimes.com Search Mosul Najib

or ISIL, stormed into Mosul, the Jordanian government threw open the country to Iraq’s Christians despite rising tensions in Jordan over waves of Syrian refugees whose presence has burdened ill-prepared communities. Hasan Abu Hanieh, a Jordanian political analyst, said the government’s decision was both humanitarian and strategic, at a time when Jordan is edgy over Islamist militants on its borders and eager to keep its bonds with the West strong. “The government can show the world that Jordan has a policy that seeks to protect minorities,

unlike its neighbors,” he said. Jordan’s small Christian community maintains good relations with its majority Sunni neighbors and mobilized quickly. Payment for visas was waived. Caritas, an international Christian charity, and Jordan’s churches said they would provide for basic needs. Refugees paid for their flights from Erbil, in Iraq, to Amman. About 500 of the refugees now live in churches in Amman and nearby Zarqa. Many others are living several families to an apartment or house, paying the rent with their own money or with aid from Caritas. At Mary, Mother of the Church in Amman, where dozens of the Christian refugees reside, thin mattresses with floral designs are spread across the floor and wet garments hang from windows to dry. The children, still

View Into Minutiae of Medieval Life By DAVID M. HERSZENHORN

VELIKY NOVGOROD, Russia — The note was the sort of routine list that today would be dashed off on a smartphone. In 14th-century Russia, it was etched into the bark of a birch tree and curled into a scroll. “Send me a shirt, towel, trousers, reins, and, for my sister, send fabric,” a father, whose name was Onus, wrote to his son, Danilo, the block letters of Old Novgorod language, a precursor to Russian, neatly carved into the wood. Onus ended with a bit of humor. “If I am alive,” he wrote, “I will pay for it.” The scroll and a dozen others were among the finds from this year’s digging season, adding to a collection of more than 1,000 documents uncovered here after hundreds of years in the mud that makes this city one of the most extraordinary archaeological

sites. “Novgorod for Russia is like Pompeii for Italy,” said Pyotr G. Gaidukov of the Russian Academy of Sciences Institute of Archaeology. “Only Novgorod is still alive.” Written in conversational language, the birch-bark documents provide a human soundtrack to accompany a vast — and growing — trove of artifacts including coins, official seals, kitchenware, jewelry and clothing. Each year, thousands of items are found in the soil. There are records of business transactions, inventories of goods, accusations of crimes, letters among family, even love letters. “Marry me,” a man named Mikita wrote to a woman named Anna in a birch-bark letter dated to between 1280 and 1300. “I want you, and you me.” Archaeologists say the documents, once deciphered by lin-

guists, breathe life into all of their other findings. “They open a road for us, a window in the everyday life and relations,” said Sergei Yazikov, who led a dig on Bolshaya Moskovskaya Street. Nestled in a curve of the Volkhov River, Veliky Novgorod was founded, according to legend, by Rurik, a Varangian chieftain, in 859. It is a place where democracy once flourished, where benevolent princes ruled with the consent of a parliament of local elites, where markets hummed and international trade thrived, where women were empowered to participate in business and other aspects of public life. Among the most poignant of the birch documents are those writings by a boy named Onfim, believed to be 6 or 7 years old. Dated to around 1260, they included school exercises and doodles. In one, Onfim envisions

afraid, rarely wander off without their parents, even to play. Like the 620,000 Syrian refugees in Jordan and more than 30,000 other Iraqi refugees, the latest arrivals are not allowed to work — an attempt to ensure they do not stay forever. To while away the time, the men play backgammon or help with chores at the church’s school. The women mainly care for their children and help prepare meals. Mostly, they are haunted by the abrupt end to their lives in Iraq, and to a Christian tradition that had survived in Mosul for more than 1,700 years. At St. Ephraim, the 74-yearold said his greatest worry was the safety of his older son, who remains in Erbil. A younger son, the one who had been kidnapped, is with him, having survived that earlier ordeal. The elderly man

carefully laid out photos of his old home, sent to him by a neighbor after the family fled. A letter N for Nazrene, a term used for Christians in the Quran, is painted on the wall surrounding the home, which is marked Property of the Islamic State. Mr. Najib, the man who survived the stabbing, said his 8-year-old daughter did not understand that there was nothing to go back to, and had been crying a lot recently, asking to go home. He bemoaned the loss of Mosul’s Christian community. Under the Islamic State, “diversity is dead or at least dying,” he said. Saif Jebrita, a photographer who fled, shared his despair. “We are very much part of the Arab culture, we are citizens of Iraq,” he said. “What do we go back to? There is no home, and if this continues, there will be no country.”

Moskovskaya Street, Mr. Yazikov bounded down a ramp, descending through hundreds of years of Russian history. Pieces of paper marked the layers corresponding to the different centuries. SERGEY PONOMAREV FOR THE NEW YORK TIMES In Russia, Novgorod is the place where arA boy left a message and drawing on chaeology students a scroll found in Veliky Novgorod. hope to apprentice and professionals seek to make their careers. himself as a warrior, writing his Jos Schaeken, the dean of name next to a figure on horseLeiden University College The back. Hague, who is a professor of The city and its outskirts are Slavic and Baltic languages, said dotted with excavation sites. Novgorod had not received suffiThe first birch-bark scrolls were found in 1951. Experts say cient notice in the West. the wet, clay soil that lies under He said, “It is revolutionary in Novgorod, and contains little the sense that it gives you inside or no oxygen, has the unusual knowledge of a medieval city that chemical quality that preserves had international ties with the both hard artifacts made of metal East and the West, how it was orand items made of softer material ganized and functioned, and how like leather. people communicated with each At the huge pit on Bolshaya other.”

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MONEY & BUSINESS

Hoping to Regain Focus Through Breaking Up By DAVID GELLES

ENTERPRISE PRODUCTS

The BW Zambesi headed for Korea in July carrying U.S. oil, the first such export in 39 years.

Turning Point for U.S. Oil Flow By CLIFFORD KRAUSS

HOUSTON — The Singapore-flagged tanker BW Zambesi set sail from the port of Galveston, Texas, on July 30, loaded with crude oil for South Korea. Although the ship left with little fanfare, the 400,000 barrels it carried represented the first unrestricted export of American oil to a country outside of North America in nearly four decades. The Obama administration insisted there was no change in energy trade policy. But many viewed the launch as the curtain raiser for the United States’ emergence as a major oil exporter. The prospect was unthinkable as recently as 2008, when the conventional wisdom had it that the country was “addicted” — a word that President George W. Bush famously used — to oil from unstable or unfriendly countries. Then came the frenzy of drilling in shale oil and gas fields. Daniel Yergin, an energy historian, said the Galveston shipment symbolized a new era. “Economically, it means that money that was flowing out of the United States into sovereign wealth funds and treasuries around the world will now stay in the U.S. and be invested in the U.S., creating jobs,” he said. The oil bounty is thanks to modern production techniques including hydraulic fracturing, or fracking. Exports would mean more of that, which environmentalists say would endanger water supplies or create other hazards. The Energy Department has begun a major study on the merits of exports. Refiners argue that exports could mean more expensive domestic oil for them, which they say could mean higher prices for American consumers. But oil companies, and many economists, say the exports would add to global supplies and lower international oil benchmark prices. Domestic oil production has risen by 70 percent over the last

six years to 8.7 million barrels a day, and imports from members of the Organization of the Petroleum Exporting Countries have been cut by half. United States output is expected to rise to 12 million barrels a day over the next decade. “A flood is upon us,” John Auers of Turner, Mason & Company, a Dallas engineering consulting firm, recently said at a conference. “We are getting close.” Shale oil is predominantly light, sweet oil, meaning it is low in sulfur content and flows freely at room temperature. American refineries were structured to process heavier crudes imported from Mexico, Venezuela and Canada. That is leading to a crudeoil glut in parts of the country’s midsection already — which has pushed oil companies to lobby for

A top importer of oil products becomes a top exporter. expanded exports and led to that shipment from Galveston. The United States had strictly limited exports since the era of the Arab oil embargo in 1975. Then, suddenly, parts of the Midwest and the Gulf of Mexico regions were overflowing with light grades of crude and, in 2011, the United States pivoted from being the world’s largest importer of petroleum products to becoming one of the leading exporters. Refined products like gasoline and diesel had always been excluded from the embargo. United States exports of oil could reach three million to four million barrels a day in a few years, more than most OPEC producers currently provide world markets. For David L. Goldwyn, the State Depart-

ment’s coordinator for international energy affairs in the first Obama administration, that would increase Washington’s credibility in global trade talks, where the nation typically argues that countries with excess supplies should export them. The exports would let China and India diversify their supplies from the Middle East, and Europe diversify from Russia, the Middle East and North Africa. But Bill Day, a vice president for the independent U.S. refiner Valero, said those who argue for free trade in oil are overlooking the fact that prices are largely controlled by OPEC. “To us this should be a question of economics, pragmatism and good business sense rather than ideology,” he said. The refiners are joined in an unlikely alliance by liberals like Senator Edward Markey, Democrat of Massachusetts, who noted that the United States still imports a third of the oil it uses, about the same as when Congress limited exports 39 years ago. Many oil experts say that the debate will be settled when American oil production rises to such a high level that there are no longer adequate domestic markets. “You would see a significant reduction in drilling, resulting in a significant reduction in production, a significant reduction in employment in the industry,” predicted Scott Sheffield of Pioneer Natural Resources, a company that won export approval. The White House and Congress would not let that happen, oil executives say. Senator Markey took a different view: “They claim that exporting American oil to China will be good for oil companies and there will be no impact on American consumers and industries and our national security. If something sounds too good to be true, it probably is.”

In the aftermath of the financial crisis, investors bet on companies that seemed too big to fail. Even if a business wasn’t growing at breakneck speed, there was safety in large numbers; the more sales the better, it seemed. So in 2011, when Hewlett-Packard announced a plan to break in two, investors balked. Separating HP’s personal computers unit from its enterprise products and services seemed a risky bet that could leave both halves vulnerable. That plan was shelved, and the chief executive who proposed it was dismissed. But today, stock market investors are betting on companies with tightly focused visions. Too many divisions are seen as a distraction for management. And activist investors are eager to take small stakes in big companies and call for breakups, betting that profit will follow. So when HP announced in October that it would split, essentially reviving the 2011 plan, shareholders rejoiced. In announcing a plan to break apart, HP is following a trail blazed by companies like eBay and IBM. “During the financial crisis shareholders rewarded size, sales and diversity,” said Chris Ventresca, co-head of global mergers and acquisitions at JPMorgan Chase. “Now they don’t feel like they need the safety net of larger scale. Companies are healthier and stronger. That gives boards the confidence to take a harder look at their portfolio.” Recently, eBay announced that it would spin off its PayPal unit into a separate publicly traded company. IBM recently sold its low-end server business to Lenovo, the Chinese company that acquired IBM’s personal computer business nearly a decade ago. “Companies have lots of choices right now,” Mr. Ventresca said. “They can sell because buyers are hungry.” DuPont, under pressure from the activist investor Nelson Peltz, said last year that it would split. While Dow Chemical has resisted calls from the activist investor Daniel S. Loeb to split itself in half, it continues to divest itself of smaller business lines. General Electric spun off its retail finance arm in July and sold its appliance business in September. Consumer goods and pharmaceuticals companies have joined the fray. Procter & Gamble is selling more than half its brands. The drug maker Abbott Laboratories spun off AbbVie in 2013, creating two enormous companies. And still, HP is among the most attention-getting splits to date. HP was founded 75 years ago, when friends from Stanford University in California, William Hewlett and David Packard, began making audio equipment in a garage.

Investors think too many divisions may be too distracting. The company grew to become the largest maker of personal computers in the world, a major supplier of printers and ink and a big provider of servers, software and supplies for other businesses. When Meg Whitman took over HP in 2011 after the failed tenure of Léo Apotheker, she inherited a troubled company that lacked focus and had lost some of its financial muscle. “HP was under acute pressure,” said Peter Burris, an analyst at Forrester Research. “They had a hugely complex portfolio. The balance sheet had degraded a bit.” Ms. Whitman cut jobs, refocused the business units and tidied the balance sheet, moves that allowed her to revive the idea of a split with a measure of confidence that shareholders would cheer the idea.

DONNA CARSON/REUTERS

Hewlett-Packard will split its personal and business units. Assembling an HP server in Houston. “A move like this a few years ago might have looked like a fire sale,” Mr. Burris said. “Now, this move improves its focus, simplifying some of the complexity.” Ralph V. Whitworth, the activist investor who gained a seat on HP’s board, hailed the split as a victory for shareholders, a reminder of the degree to which the decision was motivated by financial concerns. The separation is “a brilliant value-enhancing move at the perfect time in the turnaround,” Mr. Whitworth said. Both companies could be in the market for deals, and both could face risks as they fend for themselves. “It doesn’t make all the challenges go away,” Mr. Burris said. “Their successes or failures will be much more transparent. They won’t be able to hide their struggles anymore.”

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MONEY & BUSINESS

In New Zealand, Sheep Farmers Adapt to Change Meat has replaced wool as the primary profit maker for many New Zealand sheep farmers. Newly sheared sheep. Below, a wool handler tossing a merino fleece onto a sorting table.

By MIKE IVES

ST. ANDREWS, New Zealand — About three decades ago, when Andrew Fraser began raising sheep, wool was among the star exports of this nation. Its other sheep products — lamb and mutton — were supporting actors. Today, the situation is reversed. New Zealand’s sheep meat exports are up, while wool, whose export earnings have been sliding for decades, faces intensifying competition from synthetic fibers. Although sheep farming is still enmeshed in the fabric of New Zealand’s cultural identity, it is another economic activity that this nation is retooling for a globalized world. “Wool has traditionally been — and still is — a very good product,” Mr. Fraser said. “The trouble is that now, a similar product can be manufactured out of used Coke bottles and all sorts of stuff.” From 1982 to 2011, New Zealand’s sheep population declined to 31.1 million from 70.2 million, according to government data, as many sheep pastures were converted to dairy farms or other uses. The roughly 17,000 sheep farmers who remain still earn money from selling the fleece of their animals. But on many sheep farms, meat has replaced wool as the primary profit maker. Since 1990, the value of New Zealand’s annual exports of raw wool and manufactured wool products has declined to about $700 million from $1.2 billion, according to government data. By contrast, lamb and mutton exports have increased almost threefold to $2.3 billion. And dairy exports, worth $1.9 billion in 1992, have soared to $14.1 billion. New Zealand, with 4.4 million people, is the world’s third-largest wool producer behind Australia and China, according to Beef and Lamb New Zealand, a

PHOTOGRAPHS BY GUY FREDERICK FOR THE NEW YORK TIMES

farmer-owned industry group. It supplies 45 percent of all carpet wool globally, the Australia and New Zealand Banking Group said in a report last year. Yet more than 90 percent of New Zealand’s wool is exported in raw form, rather than in finished products like carpets

or upholstery, leaving it vulnerable to swings in commodity markets. Farmers said the wool industry would benefit from having a unified voice to promote New Zealand wool abroad as a high-end fiber that, in their view, beats synthetic alternatives in several categories, including overall quality and environmental sustainability. Having a single voice could help the industry reach beyond China, its primary export market by far, into relatively untapped markets like the United States. But New Zealand’s wool industry is viewed as highly fragmented. There were 35 wool exporters

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operating across the country last year, “a huge level of decentralization” given the industry’s relatively modest export earnings, the Banking Group reported. “Everyone’s sort of undercutting each other,” said Ross Andrews, a South Island farmer who earns around $3 a kilogram for his carpet-grade wool. Wool growers long assumed that their industry would somehow look after itself, but there is now a clear need to promote wool over synthetic fibers, said Sandra Faulkner, an industry

advocate. According to an industry group, Beef and Lamb New Zealand, wool accounts for 1.3 percent of global fiber production and synthetics 61.4 percent. “It’s about identifying ourselves in the luxury marketplace, which is where we’ve always belonged,” Ms. Faulkner said. Peter Lyon, the supervisor of a South Island shearing team, said farmers’ views on how the wool industry should evolve typically depend on factors like whether they have reliable export contractors, the quality of wool they produce and their level of debt. In the mid-20th century, wool growers were often “asset-rich and cash-poor,” Mr. Lyon said. “But you can’t afford to be cashpoor today or you’ll get thrown out.”

The Debt We Cause Ourselves We often worry too much about the wrong things. The biggest threat to our financial lives is probably not an online security breach that will give thieves our payment card information. Instead, we should concern ourselves with the way we chip ESSAY away at our own net worth by using credit cards too much in the first place. A handful of academic researchers have studied what goes on inside our heads when credit cards are in our wallets. One of the most well-known studies, published in 2001 and titled “Always Leave Home Without It,” showed that in certain contexts, people were willing to pay up to twice as much for the same item when paying with a credit card instead of cash. This is known as the “credit card premium.” A study in 2008, titled “Monopoly Money,” featured a gift card

RON LIEBER

denominated in dollars. Even though the gift card lost value instantly when people used it, people were still more likely to spend freely with it than they did with cash. And a 2011 study found people considering using credit cards tended to focus more heavily on product features when shopping, while cash buyers paid closer attention to costs. This all seems perfectly logical on the face of it. People will spend more using credit cards since the pain of paying is further away, by at least a month or so But the most surprising thing about these studies? When I tracked down many of their authors recently, I found that they, too, can’t quite kick the credit card habit. Why, for instance, doesn’t Joydeep Srivastava, co-author of the Monopoly money study, use a debit card or cash? “Mostly because my credit card is giving me lots of miles,” he said, referring to the air miles

Even researchers are lured by credit card incentives. credit program offered by many airlines. This is exactly what the credit card companies want us to think. They buy frequent-flier miles for a penny or two each from the airlines and hope that we will pay lots of interest or buy more than we otherwise would have. Mr. Srivastava, a professor of marketing and consumer psychology at the University of Maryland, pays his bill off each month and doesn’t think he falls victim to the credit card premium. When he was doing the research that led to the paper, he switched to using a debit card for a while to establish his baseline for expenses. Now, he watch-

es carefully to make sure he doesn’t exceed that level when using a credit card. To Zac Bissonnette, author of a forthcoming book about the Beanie Baby stuffed animals and the enormous amount of money that people once paid for them, any credit card use in pursuit of rewards is just further evidence of our continuing delusions about our own self-control. He compares people who think they can keep themselves from spending more on reward cards than they would with debit or cash to climate-change deniers. First Data, which processes transactions, reports that the growth in credit card spending has outpaced the growth in debit card spending. If more payments move to phones, we will need to be ever more aware of the way our brains work when making purchases. A smartphone is another step removed from cash, after all. At least people who had bad experiences with debt or iden-

ROBERT NEUBECKER

tity theft might remember that each time they pull out a plastic payment card. Not so with Apple Pay. What would really be useful is some kind of physical reminder, an app of some sort that turns itself on when it senses that a phone payment is about to happen. A little jolt of electricity would be nice, just to deliver the same kind of vivid feeling that we used to get once upon a time when parting with our hardearned paper money.

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SCIENCE & TECHNOLOGY

Frugal, but Effective, Approach to Malaria Fight By DONALD G. McNEIL Jr.

BA WA PIN, Myanmar — After a knee-to-knee chat with this hamlet’s chief in the local malaria clinic as rain hammered the tin roof, Rear Admiral R. Timothy Ziemer reached into his pocket for his usual thank-you gift. The clinic was well run, and there was a big turnout of mothers grateful for the free mosquito nets. Accepting the thick gold-colored coin with President Obama’s face on it, the chief looked as thrilled as if he had won the Presidential Medal of Freedom. “They’re not official,” Admiral Ziemer confessed later. “I buy them in a souvenir shop in the Reagan office building for $4.50 each.” The moment illustrates how this 67-year-old retired Navy flier who is the coordinator of the president’s Malaria Initiative gets things done: on the ground, with little cash and less fanfare, in faraway African and Asian villages. Many malaria fighters call him one of the most quietly effective leaders in public health. “All the organizations fighting malaria work more closely

GREG KAHN FOR THE NEW YORK TIMES

“The people who just go to meetings in hotels aren’t the ones who matter.” REAR ADMIRAL R. TIMOTHY ZIEMER

Coordinator of President Obama’s Malaria Initiative than they did eight years ago,” said Ray Chambers, the United Nations Secretary General’s Special Envoy for Malaria. “I think that’s due in no small part to Tim and his personality. He’s not seeking individual credit and he works for the team.” Since he took the job in 2006, worldwide malaria deaths have dropped 40 percent, to about 600,000 a year from one million. Many countries now use the tactics Admiral Ziemer adopted,

such as free distribution of nets impregnated with insecticide, indoor pesticide spraying, routine doses of malaria medicine for pregnant women, rapid blood tests and pills that combine a new fast-acting Chinese drug, artemisinin, with one of several longer-lasting drugs. He was touring rural Myanmar because the region is the cradle of drug-resistant malaria and his agency is fighting it by subsidizing two-drug pills. Admiral Ziemer was appointed by President George W. Bush. He drafted a resignation letter after Mr. Obama was elected, but it was declined. On a four-day visit to Myanmar this summer, he flew and drove for hours to chat with village chiefs, local malaria educators, rural doctors and pharmacists, rubber tappers and road builders. “The people who just go to meetings in hotels aren’t the ones who matter,” he said. “They enjoy each other’s shrimp, then go home and forget everything.” At each stop, he grills people for details: Is malaria down? How is that measured? How is the money accounted for? In Zambia, he said, he shut down a

$200,000 program “when I asked where our money was going and I got the ‘stunned owl’ look.” From infancy through high school, he lived in Ban Me Thuot, in the central highlands of French Indochina, in what is now Vietnam. The son of Presbyterian missionaries, he spoke Rade, the local mountain tribe’s dialect, ate coconut “lakewater Popsicles,” chased French convoys begging the soldiers to throw chocolate and played in tunnels dug by the Japanese during World War II. He slept under mosquito nets and survived his own bout of malaria. In 1964, he left for Wheaton, a religious college near Chicago. Four years later, during the Tet offensive, North Vietnamese and Vietcong soldiers overran Ban Me Thuot. His father was killed while trying to negotiate evacuation of the wounded. In his senior year, facing the draft, he joined the Navy and asked to return to Vietnam. He became a helicopter pilot and flew 550 missions with the Sea Wolves, a unit based in the Mekong Delta. After Vietnam, he spent years as a squadron leader, before being promoted into the Pentagon.

After retirement, he headed World Relief. The malaria initiative was founded in 2005. At the time, the government’s anti-malaria efforts were a shambles. They were backing outdated drugs, and most of the budget went to ads telling Africans to buy mosquito nets — which most could not afford. The United States Congress authorized $1.2 billion for the first five years, specifying that the bulk of it be spent on goods to be given away free or at subsidized prices — not on consultants. The initiative now supports efforts by 25 countries in Africa and Southeast Asia. “My motivation is to keep it moving — and to look out for the kids I brought onto the team,” he said. So he keeps traveling to places like Ba Wa Pin. “All my ex-flag-officer colleagues work for Beltway bandits,” he said, describing former admirals working for defense contractors. “They play a lot of golf, go up and down the Chesapeake in their boats. At reunions, they’ll give me grief. ‘Hey, Z, you still saving the world?’ And I’ll say, ‘Yep, still saving the world.’ ”

New Device Advances Quest to Skate on Air By CONOR DOUGHERTY

LOS GATOS, California — A lot of things can hover. There are helicopters. There are hovercraft. But for the last three decades, a generation of engineers and movie fans have been waiting for something else: a hovering skateboard like the one in “Back to the Future Part II.” The hoverboard is fiction, the vision of screenwriters who created the film about Marty McFly, a teenager who travels from 1985 to 2015, and uses a floating skateboard to flee a gang of bullies. Ever since, various garage tinkerers and physics professors — and more recently, top engineers at Google — have tried to replicate it. In California, Greg and Jill Henderson allowed a reporter to stand on a magnetic skateboard that can float a couple of centimeters above a copper surface. The Hendersons have poured their life savings into the technology and are hoping to create industries based on this science. Dustin Rubio, 39, an electrician who grew up skateboarding and saw “Back to the Future Part II” when he was a teenager, is not thinking quite that big. This year, Mr. Rubio turned “a leaf blower, some plywood, some plastic and duct tape” into a small hovercraft that his daughters used to glide down the driveway at his home in Napa, California. “I was like I’m just gonna make something funny and see if it works,” he said. But Mr. Rubio’s invention is not really a hoverboard. Bob Gale, who wrote the “Back to

ONLINE: A BOARD THAT FLOATS

The evolution of hoverboards and a video ride on the latest: nytimes.com Search hoverboard

the Future” trilogy, said that in his imagination the hoverboard floats on a magnetic field similar to magnetic levitation trains. This has been extremely difficult, mostly because of Earnshaw’s theorem, which states, more or less, that repelling magnets are tough to balance. One way is to use a track to hold the magnetic skateboard in place, but what self-respecting skateboarder wants to be constrained to a track?. In 2011, a research group directed by Alain Sacuto, a physics professor at of the Université Paris Diderot, used smoking-cold superconductors to levitate a liquid-nitrogen-filled skateboard that he and others rode across a five-meter magnetic rail. Last year, Rich DeVaul, a senior engineer at Google X, the company’s research division, and Dan Piponi, a Google mathematician, got a fingernail-size piece of carbon to hover above a lattice of small magnets. They remain confident they could have built a board, but are less confident they could have found a use for it. Mr. DeVaul imagined several applications, like a futuristic assembly line where robotic machine tools could levitate from job to job. “I was racking my brain because I so wanted to build this

JASON HENRY FOR THE NEW YORK TIMES

Magnetic field architecture technology allows a board to hover over a ramp lined with copper. damn thing,” he said. But, he added, “we weren’t sure exactly what big problem we were solving except for this global lack of hoverboard skate parks,” Mr. DeVaul said. It turns out Mr. Henderson was working on this very thing. In the back of his office, there is a copper halfpipe that may be the first hoverboard skate park. Mr. Henderson, though, doesn’t even skate and his “Hendo Hoverboard” is basically a publicity stunt. Mr. Henderson became enamored of hover technology in 1989 after the Loma Prieta earthquake, thinking that if you could make buildings float, you could build cities to better withstand earthquakes.

Tinkering to fulfill the fantasy of a hoverboard. Two years ago, he started his company, Arx Pax, hoping to develop magnetic technologies and license patents. The Hendo Hoverboard is not yet for sale. Mr. Henderson may be a dreamer, but he understands that people are likely to be more interested in hovering skateboards than they are in his ideas for new kinds of building foundations. “That’s why we picked the hoverboard: to capture that attention,” he said.

The Hendersons have started a campaign to raise $250,000 on Kickstarter, the crowdfunding site. Mr. Gale said that when he and Robert Zemeckis wrote “Back to the Future Part II,” they envisioned a future of pedestrian-friendly downtowns and flying skateboards. Mr. Zemeckis told an interviewer that the technology was real, prompting an avalanche of letters from boys like Dave Mertes. Mr. Mertes, now a 36-year-old clothing designer in Seattle, said he was crushed when it turned out that Mr. Zemeckis was joking. “I was like, oh, the director just said it was real. How can I get one?”

MONDAY, NOVEMBER 3, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

ONLINE

Time for Web TV Has Now Arrived

EKTA

Wanting Privacy, Posting Anyway By KATE MURPHY

Imagine a world suddenly devoid of doors. The controlling authorities say if you aren’t doing anything wrong, then you shouldn’t mind. That’s essentially the state of affairs on the Internet. There is no privacy. Increasingly, people are coming to understand how their online data might be used against them. You might not get a job, a loan or a date because of an indiscreet tweet. But less obvious is the psychic toll. “With all the focus on the legal aspects of privacy and the impact on global trade there’s been little discussion of why you want privacy and why it’s intrinsically important to you as an individual,” said Adam Joinson of the University of the West of England in Bristol. Perhaps that’s because there is no agreement over what constitutes private information. It varies among cultures, genders and individuals. Moreover, it’s hard to argue for the value of privacy when people eagerly share so much personal information. But the history of privacy is one of status. Those who are institutionalized for criminal behavior or ill health, children and the impoverished have less privacy than those who are upstanding, healthy, mature and wealthy. “The implication is that if you don’t have it, you haven’t earned the right or aren’t capable or trustworthy,” said Christena Nippert-Eng of the Illinois Insti-

tute of Technology in Chicago. So it’s not surprising that privacy research has shown that just the perception of being watched results in feelings of low self-esteem, depression and anxiety. Whether observed by a supervisor at work or Facebook friends, people are inclined to conform. Their performance of tasks suffers and they have elevated levels of stress hormones. A three-year German study ending in 2012 showed that the more people disclosed about themselves on social media, the more privacy they said they desired. The lead author of the

A fear of being viewed as unengaged losers. study, Sabine Trepte of the University of Hohenheim in Stuttgart, said the paradox indicated participants’ dissatisfaction with what they got in return for giving away so much about themselves. “It’s a bad deal because what they get is mainly informational support like maybe a tip for a restaurant or link to an article,” she said. “What they don’t get is the kind of emotional and instrumental support that leads to well-being, like a shoulder to cry on or someone who will sit by

your bedside at the hospital.” And yet, she added, they continued to participate because they were afraid of being judged by others as unengaged losers. So the cycle continued. The problem is that if you reveal everything about yourself or it’s discoverable with a Google search, you may be diminished in your capacity for intimacy. This goes back to social penetration theory, one of the most cited explanations of human connection. Developed by Irwin Altman and Dalmas A. Taylor in the 1970s, the theory holds that relationships develop through gradual self-disclosure of private and sensitive personal information. “Building and maintaining an enduring, intimate relationship is a process of privacy regulation,” said Dr. Altman, now an emeritus professor of psychology at the University of Utah. Privacy researchers said they are starting to see signs of a backlash. People are beginning to exercise a bit more reserve online or are otherwise engaging in subversive tactics to thwart data miners. Such small acts of defiance might include setting up multiple fake identities and not “liking” anything on Facebook making their social networks and preferences harder to track. Professor Nippert-Eng said, “When people want privacy there’s often this idea that, ‘Oh, they are hiding something dirty,’ but they are really just trying to hold onto themselves.”

By EMILY STEEL cheaper streaming alternaA new era of television viewtives, or free video options like YouTube and other social ing has arrived, and with it, the media. The growth of subscripvirtual monopoly that cable, satellite and telecommunications to cable and satellite sertions companies have had over vices in the United States has TV programming in America is stalled, dropping 0.5 percent dissipating. to 101.4 million this year, from Just one day after the HBO 101.9 million in 2012, according network said it would start an to SNL Kagan. Internet-only offering, the CBS Sports are one major componetwork announced its own nent holding the cable bundle subscription streaming service together. But a growing numthat lets people watch its live ber of sports options exist on programming and thousands the web with a traditional payof current and past shows on TV package, including ESPN3. demand. The networks that offer new The moves signal a turning streaming services must perpoint for web-delivered televiform a delicate balancing act so as not to cannibalize the bilsion, where viewers have more options to pay only for the netlions of dollars that cable and satellite operators pay them to works or programs they want distribute their programming. to watch — and to decide how, The new stand-alone web serwhen and where to watch them. Rapidly fading are the days in vices could cause cable compawhich people pay an average nies to demand that CBS and of $90 a month for a bundle of HBO charge lower fees for their networks from a traditional programming. And to hold on provider. to their own customers, cable Leslie Moonves, chief execcompanies could be forced to create more segmented packutive of the CBS Corporation, said, “Our job is to do the best ages. But in some ways, the content we can and let people new web-only products could enjoy it in whatever way they benefit the cable companies, want.” M r. Moonves wants his channel to stay relevant to a new generation of people who have never paid for a standard television package, and “cord cutters” who have canceled their cable service. The push into web-only offerings by HBO and CBS, two networks that earn billions of dolDAVID GIESBRECHT/ lars in profits from CBS, VIA ASSOCIATED PRESS the traditional sysCBS is making current series like tem, highlights how ‘‘The Good Wife’’ available on rapidly the balance of power is shifting. demand for $6 a month. The CBS All Access service, at $6 a which make billions of dollars month, began on October 16; selling Internet service in the HBO’s service will start in 2015. home. The initiatives are largely a CBS and HBO are not the reaction to the success of Netonly new web-only offerings. flix, whose streaming service Sony is preparing an Internet has more than 50 million globproduct expected to include al subscribers. Other services programming from Viacom, like Amazon and Hulu now ofthe parent of networks like fer on-demand programming Comedy Central, MTV and that can be watched anytime Nickelodeon. DirecTV, the and anywhere on a laptop or a satellite television provider, smartphone. “Smart” televialso said that it would start an sions and streaming devices online video service. A similar like Apple TV and Roku also service from Showtime, the allow viewers to watch Intercable network owned by CBS, net-delivered video on a big is likely in the “not too distant screen. future,” Mr. Moonves said. Reed Hastings, who leads It remains to be seen how Netflix, said the streaming opmany web-TV subscriptions tions from traditional outlets viewers will want to pay for. validated his company’s longNetflix starts at $8 a month and held belief that the Internet was Hulu’s premium service costs replacing traditional television, $8 a month. apps were replacing channels, The new CBS service will remote controls were disapmake available on demand curpearing and screens were proliferating. “We are Internet disrent shows the day after they are shown, and more than 5,000 rupters, through and through,” episodes of shows it is calling he said. CBS Classics like “Star Trek.” Media executives are eager As Marc DeBevoise at CBS to appeal to the fast-growing Interactive said, “It is going to number of viewers who pay look a lot like Netflix.” for Internet but watch TV via

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, NOVEMBER 3, 2014

ARTS & DESIGN

Bollywood Is Evolving, Prancing Far Abroad By ANUPAMA CHOPRA

MUMBAI — Shah Rukh Khan has many titles. The 48-year-old Bollywood superstar is known as King Khan, King of Bollywood and Bollywood Badshah (or emperor). This past summer Mr. Khan became a knight. The French foreign affairs minister, Laurent Fabius, conferred France’s highest civilian honor — the Knight of the Legion of Honor — on Mr. Khan. Mr. Khan’s archrival Aamir Khan (no relation) was also transcending cultural differences. On July 25, his latest film, “Dhoom 3,” an action thriller, was released on 2,000 screens in China. The French and Chinese are among the many converts to Bollywood’s rapidly growing following. Hindi films have long had devoted fans among the 21 million Indians living overseas, and in the 1950s and ’60s, the actor-director Raj Kapoor became a household name in Soviet Russia, while Hindi films

Hindi films gaining fans, despite being a hard sell. traveled to the Middle East and Africa. But in the last decade, Bollywood’s unique cocktail of emotion, song, dance and melodrama has found takers in several new markets. According to the box office tracking company Rentrak, revenues for Indian films across 36 territories rose from $66.2 million for 69 titles in 2009 to $289 million for 170 titles in 2013. The new fans are in countries as diverse as Turkey, Peru, Panama and Iraq. Hindi films first reached Japanese theaters in 1952, but regular releases began only last year. The Japanese pop musician and soundtrack composer Matsumura Masahide (known as Titi Matsumura) is a fan and said the appeal lies in the films’ ardent approach. “We like Indian films full of emotional feeling with the richness of heart, which Japanese people tend to miss now,” he said by email. “Even when films describe a negative problem, the way to describe it is full of

big Indian love.” The Germans are besotted with Shah Rukh Khan. Their ardor can be traced to 2004, when a German television station programmed a prime slot for “Kabhi Khushi Kabhie Gham” (“Sometimes Happiness, Sometimes Sadness”), featuring Mr. Khan as the estranged, adopted son of a rich industrialist. The three-hankie melodrama — the film’s tagline was “It’s all about loving your parents” — single-handedly opened up a new market. Viewers “cried, felt great pleasure, joy and release,” the film’s distributor, Stephan Holla, said by email. “We do not get this from German movies or Hollywood.” But Brand Bollywood hasn’t been an easy sell. Hollywood and regional productions provide stiff competition. Even big-name studios like Disney India, which produces Disney-branded films, find it tough going in other countries. Amrita Pandey, who heads marketing and distribution for the studio, cited a host of factors in an email: “Language barriers, high investments required to develop new markets, the definite grammar of Hindi films and cultural gaps are also barriers.” Relativity Media, an American company, is hoping to alter the landscape. At the Cannes Film Festival in May, it announced a $100 million joint venture with B4U, a Bollywood entertainment company. Instead of finding one film that satisfies both palates, the Relativity strategy is to tailor the same content for two markets. With an as-yet-untitled action-comedy now in production with Zach Galifianakis, Owen Wilson and Kristen Wiig, the plan is to film it again in Bollywood. Along with consumers, Hindi films have also evolved. They are no longer a monolithic entity defined by song and dance. Daring, more personal indie productions known as Hindie movies are also making inroads. In the past year, “The Lunchbox,” a film starring Irrfan Khan, made about $10 million globally at the box office. Could films like “The Lunchbox” help the Hindi film industry expand? As Shah Rukh Khan put it in an email: “Our content is improving. Our technology is improving. It’s time.”

RED CHILLIES ENTERTAINMENTS/UTV MOTION PICTURES

The Bollywood superstar Shah Rukh Khan, left, and Deepika Padukone in ‘‘Chennai Express,’’ from 2013.

BENOIT TESSIER/REUTERS; BELOW, IWAN BAAN

Architect Dazzles Parisians With New Design and Show Frank Gehry’s Louis Vuitton Foundation building looks like a Cubist sailboat. It has 11 galleries.

By JOSEPH GIOVANNINI

PARIS — President François Hollande described the building as a “cathedral of light” that was “a miracle of intelligence, creativity and technology.” He was talking about the 11,700-square-meter, $135 million Louis Vuitton Foundation, a private cultural center and contemporary-art museum designed by Frank Gehry and inaugurated on October 21. Claude Parent, France’s 91-year-old éminence grise in architecture, said that when he first saw it, “I was seized by an emotion so strong that it seemed to come from something other than architecture.” Paris is celebrating Mr. Gehry at the moment. Some critics have called the building in the Bois de Boulogne one of the most technologically sophisticated, artistically motivated buildings in an oeuvre that started with small wood-frame studios and houses in Southern California and is the subject of a retrospective at the Pompidou Center. At Vuitton, visitors encounter what looks like a Cubist sailboat, with glass sails and spinnakers rising above the tree line and billowing fore, aft, port and starboard. The building appears to glide over a cascade of water lapping down a stepped embankment below its cantilevered prow. The two-story structure has 11 galleries, an auditorium and multilevel roof terraces for events and art installations. The site is next to the Jardin d’Acclimatation, a 19th-century children’s park and zoo. The architect had to build within the dimensions of a bowling alley that previously stood here; anything higher had to be glass. Mr.Gehry said he needed the approval of only one client, Bernard Arnault, chairman and chief executive of the luxury goods conglomerate LVMH. “The guy knew what he wanted, and he wanted a building that would be different than anything

else anybody had ever seen,” Mr. Gehry said. Mr. Gehry ignored France’s geometric traditions. “The clouds of glass respond to nature’s geometry, to the park’s English landscaping,” he said of the Bois de Boulogne. “Nature’s apparent disorder has its own order.” Mr. Gehry said he was “very moved by the park, which reminded me of Proust’s Paris.” He added: “I read him over and over again, and I realized it was a pretty emotional site for everybody.” He had two mandates: respecting the park and garden

Proust’s evocations inform a Frank Gehry building. and satisfying the requirements for the galleries. “Once we had the big, basic premise that there was a solid piece for the galleries, which we started to call the icebergs, and then the glass sails for the garden, we started to work them independently,” Mr. Gehry said. “Merging the two would not work, because you couldn’t have curvy galleries, and you can’t hang paintings on glass.” The diaphanous sails, supported on an acrobatic armature of wood and steel, project outside the iceberg.

The glass structure takes its place in a long Parisian tradition dating from the 13th-century Gothic Sainte-Chapelle on the Île de la Cité, with its tall walls of stained glass, and the 19th-century Grand Palais, an exhibition hall whose glass vaults echo the vast public spaces of Rome. The Foundation’s fragmented, multidirectional forms recall the Cubism of Braque and Picasso. Visitors enter a tall hall from which angled staircases and meandering paths lead to the galleries and to a roofscape of outdoor terraces enclosed by the glass sails. Between the iceberg and the sailboat, accordion spaces expand and contract, alternately intimate and grand, in what Mr. Gehry called “a chaotic dance.” Not all critics have been impressed. In The Observer, Rowan Moore criticized the sails as unnecessary. In the Pompidou retrospective, models and original drawings show the evolution of Mr. Gehry’s ideas leading up to the Vuitton Foundation. Other shows, said Frédéric Migayrou, the deputy director of the Pompidou, “have portrayed Gehry’s buildings as an object, a shape.” “I tried to do the reverse,” he said, “going through all the works to define the evolution of the language, the continuities, the idea of dynamic movement, how he opens form so that they interact with the city and provoke the movement of the body around the building.”

Business | Money Line

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Q4 2014’ll be tough for banks –RenCap MORE TIGHTENING Private sector CRR may be hiked at the next MPC meeting Godson Ikoro

enaissance Capital has predicted a very tough and challenging fourth quarter for banks following the reducing TP (Trading Profits) being returned by banks in their nine months reports. Apart from Sterling Bank Plc and a few others, most of the banks

that have so far released their third quarter results recorded either a fall or a marginal rise in their profits. The company in a report released after participating in First Bank of Nigeria Plc’s conference call to discuss the lender’s nine months results, said its key takeaway was that 4Q14 is set to be tough and the outlook is likely to remain challenging. On the back of updated guidance, RenCap said it has reduced its return on equity, (RoE) forecast on First Bank and cut its TP by 39 per cent to NGN15.0 , but maintained its buy rating.

In its analysis, RenCap said that First Bank’s management is guiding for lower margins in 4Q14 on the back of underlying growth in foreign exchange credits; believing the impact of this growth could feed into the 2015 numbers and therefore lowered its margin forecasts accordingly. Besides, given the likelihood of the private sector cash reserve ratio (CRR) being hiked at the next Monetary Policy Committee (MPC) meeting is another risk to margins, Rencap also lowered its NIM (Net Interest Margin) forecasts over the

next two years by 30-40 basis points. While the Cost of risk (CoR) guidance has been raised to 1-1.5per cent, from of 1-1.3per cent, Rencap interpreted this to mean YE14 CoR is at least 20 bpts higher than our previous forecast and it has kept CoR elevated going forward. Furthermore, it noted that First Bank’s management highlighted potential risks arising from some watch-listed loans in telecoms and infrastructure that are taking longer than expected to resolve. Citing its $45million London Mining (not cov-

filing with the Nigerian Stock Exchange (NSE). Meanwhile, the award given to Fidelity Private Banking, a Division of Fidelity Bank Plc by Professional Wealth Management (PWM) and The Banker magazines, publications of the Financial Times Group, was announced at the 6th Annual Global Private Banking Awards, which took place in Geneva, Switzerland over a gala

dinner. Speaking after the award ceremony in Geneva, Managing Director/Chief Executive Officer, Fidelity Bank Plc. Nnamdi Okonkwo, said that the award was recognition of excellence, achieved through commitment to the ideals of Fidelity Bank. He noted that it is in line with the bank’s vision: “To be No.1 in every market we serve and every branded product we offer.”

igeria’s foreign exchange reserves fell 1.94 percent month-onmonth to stand at $38.76 billion on October. 29, the lowest level in more than three months, data from Central Bank of Nigeria (CBN) showed at the weekend. Interbank lending rates also eased to 10.2 percent on average on Friday, from 10.37 percent penultimate week after stateowned ‘bad bank’ Asset Management Corporation of Nigeria (AMCON) repaid matured bonds, buoying liquidity in the system, traders said The reserves according to Reuters news, also dropped 14.28 percent year-on-year, compared with $45.22 billion the same time last year. The reserves were last seen at the current level on July 21, when they stood at $38.72 billion. Since last month the banking watchdog has increased

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

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

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

Bid 12.10 12.10 12.05

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

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

per cent term deposits from 24per cent in FY13. RenCap said it is concerned that deposit growth could generally struggle in the future and have lowered its forecasts over the next two years to 10 per cent from 13-14 per cent up from 2 per cent in FY14E. RenCap also noted that First Bank’s composite risk rating from the Central Bank of Nigeria is “above average,” implying that its dividend payout ratio will be capped at 30 per cent. It also added that management said it plans to retain as much of FY14E earnings as possible.

Foreign exchange reserves, interbank rates fall

Fidelity Bank’s nine-month pre-tax profit falls idelity Bank Plc said last Friday its nine month pretax profit fell 2 percent to N13.38 billion(80.87 million), fromN13.65 billion 2013, even as it bags Financial Times ‘best private bank award 2014.’ Revenue at the mid-tier lender however, rose 5.7 percent to N96.02 billion during the nine months to September 30, against N90.32 billion in the same period last year, the bank said in a

ered) exposure out of First Bank UK’s subsidiary, RenCap averred that management is essentially optimistic about the ongoing restructuring and does not expect to take any provisions on the asset in 2014. Although the deposit growth has been lacking this year, given the implications of the 75 per cent public sector CRR, which has seen the bank de-emphasise growth in this area, RenCap said that increased customer preference for T-bills has slowed the bank’s ability to grow deposits. Furthermore, the mix has also weakened to 28

Offer 163.5000 Source: FMDQ

the amount of dollars sold at its twice-weekly foreign exchange auction, and also sells dollars directly to banks on the interbank market to provide support for the currency and calm the market. The naira has been under pressure over the past five weeks from falling global oil prices, which has caused offshore investors to cut back their positions in the debt and stock markets. Meanwhile, AMCON repaid N867 billion ($5.24 billion) worth of bonds last Friday, cutting its liabilities to around N3 trillion, bankers said. Dealers said 30 percent of the repaid bond - about N260 billion naira was expected to enter the system in the form of cash last Friday, while the balance would be in treasury bills, transferring that part of the liability to the Central Bank of Nigeria (CBN).

Sterling Bank opens new branches nationwide

n line with its focus on the retail end of the market and its quest to deliver its quality banking services to the doorsteps of its customers, Sterling Bank Plc has opened 10 new branches nationwide. The lender according to a statement, has also embarked on the remodeling of about 40 of its branches nationwide to reflect its retail positioning. The new branches are located in Festac Town, Owode Onirin, a retail market that deals with motor spare parts along Ikorodu Road, Itire, and Awoyaya all in Lagos. Others are the NNPC Depot in Mosimi in Ogun State, Ezi-ukwu in Aba, Birin-Kebbi in Kebbi, Rumuola and Onne in Port Harcourt and Bank Road in Ekiti. The new branches are additions to the bank’s expanding branch network in the country just as more locations will be added in the coming months to enable it achieve its

200 mark before the end of the 2014 financial year. The bank’s total branch network currently stands at 175. Commenting on expansion, Group Head, Strategy & Communications, Mr. Shina Atilola, said the bank’s on-going branch expansion is part of its strategy to expand its operations and branch network across the country to enable the Bank deploy its services to all parts of the country and leverage on this to successfully increase its share of the retail end of the market. The new branch locations, he said, will serve both retail and wholesale banking customers with a comprehensive range of products including the traditional banking products and services with an emphasis on technology driven products/services delivered through an on-line real-time technology platform already put in place by the Bank.

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Business | News

Oil tumbles toward fourth straight monthly decline STATIC

OPEC is unlikely to change production quota in 2015

Adeola Yusuf

il production from Nigeria and other members of the Organisation of Petroleum Exporting Countries

(OPEC) dipped by 120,000 barrels per day in October, just as oil prices dropped and headed toward their fourth consecutive monthly fall. Reuters news agency, which revealed this in a survey published last Friday, maintained that the downtick was led by Nigeria, with overall OPEC production still hovering around 720,000 barrels per day above its 30 million barrels a day target.

Nigerian firms strong despite weak oil prices CONTINUED FROM PAGE 22

the largest increase, rising 18.7 per cent m/m. Production, with a 25 per cent weight in the headline index, rose 11.2 per cent m/m. “The broad findings of our business sentiment survey suggest that optimism remains robust among the representative panel of Nigerian companies. The rise in the headline BSI in October was supported by increases in nine out of the 15 current conditions indicators. Six of these indicators expanded at the fastest pace since the series began in March 2014 (new orders, export orders, production, productive capacity, prices received, and financial position). “Nine of the future expectations indicators also increased. In all, 12 indicators rose to a serieshigh in October. More than half of the indicators (17/31 – this number includes the headline BSI) now stand above 65.” the report added. On the impact of the dreaded Ebola Virus Disease on the economy, the report pointed out that limited reading from

the BSI suggested that Ebola had not significantly impacted business confidence, saying: “The three-month average BSI reading, through all the months that Nigeria would have been on high alert for the Ebola virus, held up at 64.3, suggesting little discernible impact on local business sentiment. Business confidence in Nigeria was strong, and remained strong, throughout this time.” It, however, highlighted that despite strength in orders and output, employment fell for the sixth consecutive month to 50.7 in October. According to the survey, in response to higher demand, Nigerian companies appear to have a preference for increasing the productivity of their current work force, rather than hiring more workers. This is likely to be even more of a concern if we see a slowdown in public-sector job generation because of weaker oil earnings. Despite Nigeria’s diversified economy, oil still contributes 70 per cent of consolidated government revenue.

98% state govts embrace automation CONTINUED FROM PAGE 22

as to instill confidence in both the payers and payees. Speaking earlier, Deputy Director, Payment Systems and Oversight, CBN, Mr Musa Jimoh, in his presentation, said that as part of the apex bank’s anti-fraud check, it had resolved disputes worth N20 billion that arose between deposit money banks (DMBs) and their customers across the country. Jimoh, who represented the Director, Banking and Payments System Department at CBN, Mr ‘Dipo Fatokun, at the forum, said that the regulator had done well

in putting measures in place to check frauds in the banking industry. He also explained that though, there are challenges on the way, the achievements so far recorded by the apex bank in the area of putting in place dependable payment platforms far outweighs these challenges. According to him, complaints received from bank customers by the apex bank are usually treated diligently, adding that this had led to the resolution of customers’ complaints in relation to the use of Automated Teller Machines (ATMs), whose financial value he put at N20 billion.

Further pressure, the survey showed, came from monthly surveys showing the OPEC made almost no effort to curb production this month even as oil prices extended a months-long rout to four-year lows. “The downtick was led by Angola and Nigeria, with overall OPEC production still hovering around 720,000 barrels per day above its 30 million barrels a day target,” it said. US and Brent crude fell by almost a dollar to put them both on pace for the steepest monthly decline since May 2012,

and the longest monthly losing streak since 2008. December Brent was down 92 cents at $85.32 a barrel at 11:43 a.m. EDT (1543 GMT). The oil benchmark has fallen over 10 per cent so far in October. US crude was down 88 cents at $80.24 per barrel, having lost 12 per cent last month. OPEC Secretary General, Abdullah al-Badri, said last Wednesday that the cartel’s output was unlikely to change in 2015 and that he was not concerned about falling prices, echoing the views from several of the group’s core Gulf

members. There will be “tough discussions” at OPEC’s next meeting in late November, but the cartel is unlikely to alter its official quota of 30 million barrels a day, Hans van Cleef, senior energy economist at ABN AMRO in Amsterdam, told the Reuters Global Oil Forum. “OPEC will be happy to see prices languish in a lower range in order to regain market share against US producers, whose costs are higher,” said Tony Machacek, a broker at Jefferies in London.

The Bank of Japan surprised financial markets last Friday by expanding its stimulus programme, boosting Japanese equities, but raising concerns about the economic health of the oil importer. “It’s a big shot of stimulus, you see Japan basically doubling down on quantitative easing at a time when the US. is getting out of the Q.E. business,” said Phil Flynn of the Price Futures Group. “What better time to have an impact in the market, to have a big shock value in the system?”

L-R: Director, PanAfrican Capital Plc, Tesssa Egbe Ikimi; Company Secretary, Emeka Akwuaka; Chairman, Dolapo Atekoja, and Group Managing Director/CEO, Chris Oshiafi, at the company’s 7th Annual General meeting in Lagos. PHOTO: SULEIMAN HUSAINI

N480bn undersea cables ‘idle’ CONTINUED FROM PAGE 22

of capacity distribution in the country. “Currently, there is limited distribution of infrastructure and the coming on board of InfraCos will also help in taking the capacity from undersea cables to different parts of the country. This is why we feel that the Open Access Model of NCC, which is bringing about the licensing of InfraCos will also bring down the cost of distributing services to all Nigerians,” she

added. The InfraCos, according to NCC, would further accelerate the rollout of a nationwide metropolitan and backbone fibre network on an open access, non-discriminatory, price-regulated basis. Opeke noted that there are many initiatives embarked upon by MainOne even before the regulator came up with the InfraCo model, which makes the company an ideal candidate for the licence. Meanwhile, strengthening last-mile connectivity is

considered one of the most pressing issues currently facing the Information Communications Technology (ICT) industry. “We have been calling for the release of more spectrum to enable operators deliver services to the people,” said ATCON’s incumbent President, Mr Lanre Ajayi. “We are doing well in international connectivity, but in-country connectivity has been our major challenge as operators are faced with many hurdles impeding last-mile rollout.”

Power shortfall, tariff hinder new owners’ N2.7trn investments CONTINUED FROM PAGE 21

billion investments.” He continued in a telephone chat with New Telegraph: “You and I know that we contended with shortfall in power generation and supply from the national grid, while the tariff was also not feasible for business during the first one year. “We experienced serious apathy from the lenders over this, but the good news is that the Federal Government is working on how to create a conducive environment

through the N213 billion power intervention. With this, the second year of power privatisation will ensure customers to see more boosts in supply.” He maintained that issues of aged and retiring engineers, who formed the bulk of skilled workforce in the Nigerian power sector are being addressed, promising to explore the new environment to boast investments. The Federal Government, in an effort to boost electricity supply, announced on September 18, an injection of N213 billion bailout funds for

the new electricity generation (GenCos) and distribution companies (DisCos). The GenCos and DisCos have seemingly been battling to provide stable electricity to consumers during the first year of privatisation. The bailout fund, it said, was meant to settle legacy gas debts of N36 billion (up from N25 billion in August) as well as the shortfall in revenues to the sector since the new power firms took over the successor companies of the Power Holding Company of Nigeria (PHCN) in November 2013.

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

SPECIAL REPORT in partnership with

Nigeria’s advertising Czars

Bunmi Oke,

Managing Director/CEO, 141 Worldwide

141 Worldwide, one of the top-flight advertising agency in Nigeria, run by Bunmi, who started her career at Grant Advertising (McCann-Erickson affiliate) in 1986, where she worked as a PR Executive/Account Management trainee, before moving to LTC – (now JWT) advertising in 1989, where her exceptional organisational and presentation skills culminated in her rising through the ranks to become the first female Client Service Director. An alumnus of the University of Lagos, Queen’s College, Yaba, Lagos and Holy Child College, Obalende, Lagos, her close to 30 years in the industry has seen her rise to the top of the ladder. She has an impressive profile as the 17th and 2nd female President of the Association of Advertising Agencies of Nigeria (AAAN), having served as an Executive and Vice President of AAAN Board. She is the only practicing female fellow of APCON amongst the four women in Nigeria, who have attained this level. She was a delegate to the National Conference in Abuja, Nigeria.

Lolu Akinwunmi,

Group Chief Executive Officer, Prima Garnet Group

Over the years, they have helped to build and manage great brands. They are also the faces behind great advertising campaigns and reputation management of many organisations. New Telegraph unveils these gurus ised in graphic design at the Ahmadu Bello University where he graduated. He began his advertising career as an art director with Desmark Advertising, where his unique illustrative style and flair for writing quickly drew attention. He soon joined Insight Communications where he also showed a flair for client service work, rising to be Deputy Creative Director in the five years he spent with the agency. Following an agency attachment course with German Saatchi and Saatchi affiliate – Scholz and Friends, he returned home with a burning desire to redefine existing templates. He co-founded SO&U in 1990 – with a vision to be the most creative agency in Nigeria within two years. With close to three decades of marketing communications experience under his belt, Udeme was a past president of both the Association of Advertising Practitioners of Nigeria (AAPN) now Association of Advertising Agencies of Nigeria (AAAN) and the Lagos Business School Alumni Association. He is also a board member of the Nigerian Economic Summit Group.

Kelechi Nwosu

Managing Director, TBWA\Concept

A Fellow of the Advertising Practitioners Council of Nigeria (APCON), Mr Akinwunmi has served the regulatory body in different capacities, including Member of the Governing Council for several years. He is also Fellow, National Council of Marketing of Nigeria; Member, Institute of Directors; Member, International Advertising Association and Member, Board of Trustees, the Olive Bloom Orphanage. He served as member of the Advertising Standard Panel (ASP) and a pioneer Chief Executive Officer, Federal Government Rebranding Project Business Group; immediate past President, Association of Advertising Agencies of Nigeria (AAAN); Board member, Ogilvy Africa BV and has remained the Group Chief Executive Officer, Prima Garnet Group. Akinwunmi succeded Chris Doghudje as APCON chairman. He was born in Ijebu Ode, Ogun State on September 27, 1958 and attended Comprehensive High School Aiyetoro, Ogun State, as well as The Polytechnic, Ibadan and the University of Lagos.

Nwosu, who is also the incumbent president, AAAN, has spent the greater chunk of his youth conceptualising and executing-award winning campaigns. He is one of the key architects of the growth of TBWA\Concept in the last decade. His determination to take TBWA\Concept to its rightful place of the world map of advertising has seen him expand relationships within the TBWA\ network across the region. He started his career over 20 years ago and has experience in marketing communication having worked with clients such as MTN, Motorola, Stanbic IBTC Bank, Visa, UAC of Nigeria and at least 20 other blue chip companies nationally as well as Pan-Africa. His professional career has spanned Channels Television, Zepol Advertising and LTC/JWT and he has also attended courses at INSEAD in addition to holding a Masters in Mass Communication specialising in advertising and public relations.

Udeme Ufot

Doyin Adewunmi

Group Managing Director, SO&U

One of Nigeria’s most influential advertising practitioners, Udeme studied industrial design and special-

Managing Director, Creativexone

Barely four years in operation, Adewunmi has driven Creativexone to a point of reference in the industry.

An associate member of Advertising Practitioners Council of Nigeria (APCON), Adewumi, who joined Centrespread then known as CentrespreadFCB, in 1991 as a copywriter, is a Mass Communications graduate of the University of Lagos. He subsequently rose through the ranks and later became the managing director, the position he held for two years before setting up Creativexone alongside Sola Adegborioye, who was also at Centrespread.

Sir Steve Bamidele Omajafor, Group Chairman, STB-Mccann

He broke the age-old jinx in the Nigerian advertising sector by becoming the first Nigerian advertising practitioner to be conferred with the prestigious national award of the Order Of the Niger (OON). Born on 6th January, 1946, in Lagos Nigeria, Omojafor was a former journalist, co-founder Rosabel Advertising in 1978. He is not only the Chairman of this big advertising agency; he had served as the President, Association of Advertising Practitioners of Nigeria (AAPN). He was former Vice President, International Advertising Association, IAA Nigeria Chapter. He is a member of Nigeria Institute of Marketing (NIMARK) and Council member, APCON. His uprightness earned him a PAPAL Knight of the Order of St. Sylvester. A widely traveled man among other qualifications and trainings, he graduated with BA Mass Communication, specialising in marketing communication from University of Lagos, Akoka in 1972.

Segun Adewale

Group Managing Director/CEO, 24/7 Communications

An advertising guru and brand specialist, with 23 years record of un-broken service in advertising in Nigeria, Segun has worked on virtually all multinational brands in the FMCGs and telecoms sectors. One of his greatest experiences was working on the Econet mobile while at CentreSpread Advertising as account manager. Also, at Unilever he brought the idea of taking BlueBand from tin to plastic among other many other experiences.

38 Special Report Funmi Onabolu,

Managing Director, Cosse TTL Limited

Armed with a Bachelor of Arts degree from the University of Ife, Nigeria in 1978, Funmi Onabolu has had and impressive and extensive career spanning broadcasting and marketing communications. He had a brief stint at NTA Abeokuta as Presenter/Producer between 1979 and 1980 and was also a pioneer staff at Lagos Television, Ikeja, Nigeria where he worked as Producer, Presenter and Newscaster. Onabolu went into advertising in January 1982, working with Insight Communications where he became the first General Manager and Chief Operating Officer of the company in 1989 and was invited to the board in 1991. He rose to the position of Executive Director and left in June 1995 to become the founder of Bates Cosse. Onabolu, who serves on APCON Financial Committee and on the board of AAPN in many capacities since 1986, is a fellow of the advertising profession, member of the International Institute of Marketing, International Special Event Society. He is also on the Board of Trustees of Culture Conservation Foundation of Nigeria and National Association of Tour Operators (NATOP). He was a past President, Association of Advertising Agencies of Nigeria (AAAN).

Hakeem Adenekan,

Managing Director/ CEO, Commstrat Associates Limited

Adenekan holds an MBA from the Lagos State University, among other professional qualifications. He had his formative years in Mushin, Lagos and Abeokuta and attended the Islamic Mission Primary School, Ishaga, along Itire Road, Mushin; and Premier Grammar School, Abeokuta. He later had his Higher National Diploma in Mass Communications at the Ogun State Polytechnic (now Moshood Abiola Polytechnic). He had worked with numerous advertising firms such as Centrespread FCB Advertising Ltd, Campaign Palace Advertising Limited, LTC J. Walter Thomson Advertising, among others, before he started the Commstrat Associates Group comprising Commstrat Brand Communication; Commstrat PR and Evagrin Konsepts Ltd.

Jimi Awosika,

Managing Director, Insight Communications

His professional career started with the Nigerian Broadcasting Corporation (NBC) where he worked as a sub-editor. By 1977, the challenge of advertising attracted him to Grant Advertising where he started as an Account Executive. Recognising his penchant for hard work and attention to strategic details, that Agency turned over its major accounts to him to service until he left to co-found Insight in 1980. He has undergone vigorous training programmes in various places across the globe and is recognised in the industry as a sound practitioner, who has contributed papers and practical demonstrations to the education of younger generations of advertising professionals. Awosika is Vice Chairman of Troyka, West Africa’s biggest marketing communications group. Jimi brings to his position over 36 years experience in advertising working mainly in accounts management, strategy and creative. Along with his colleagues, he has helped to build Insight Communications into the biggest and most awarded creative agency in Nigeria and West Africa; winning several laurels the world over.

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Lanre Adisa,

Managing Director/Executive Creative Director, Noah’s Ark Communications

prestigious Unilag Alumni’s Outstanding Merit Award, Thani, who is a resourceful and relentless go-getter, diversified his advertising business into other areas of the economy. Today, he sits as the chairman of many successful companies including, Corporate Insignia Consulting, Sharpshooters Ltd, Treasure M Halls & Events Centre, Treasures F&B Limited and Energybiz Ltd.

Wale Olabiyi, Adisa, whose agency emerged the first creative agency in Nigeria to be recognised by Cannes Lions, is a highly accomplished Creative Leader, who has groomed many young creative talent in a career spanning about two decades. More importantly, he has been instrumental to the growth of some of Nigeria’s major brands. Adisa had worked at Insight as Associate Creative Director, TBWA/Concept, Executive Creative Director and Waseet/Adwise Nigeria as Executive Director.

Steve Babaeko,

Chief Executive Officer, X3M Ideas

Babaeko joined 141 Worldwide from inception in 2005, where he worked for seven years as a creative director before floating X3M Ideas. Babaeko, had also had a five-year stint at Prima Garnet Ogilvy, is a writer, business development enthusiast, consumer behaviour analyst, brand development expert and multi-platform media influencer. His advertising career spans nearly two decades and a half, starting off at MC&A Saatchi & Saatchi, from where he moved to Prima Garnet Ogilvy and later 141. While at 141, he led a team of result-oriented professionals, working on several award-winning campaigns for brands such as TomTom, Etisalat, British American Tobacco, First Bank and MultiChoice. He is an associate registered member of Advertising Practitioners Council of Nigeria (APCON).

Kayode Oluwasona, CEO, Harmony Concept

Managing Consultant/CEO, Xstrata Consulting

A graduate of Fine Arts from the Obafemi Awolowo University, Ile Ife, Wale started working at OBM, one of Nigeria’s first generation advertising agencies. He later became Head, Creative Department at Bluebird Communications where he resigned to become principal partner at KWT Limited in May 1999. Thereafter, he had a brief stint at Amethyst & Turquoise as the Managing Consultant/CEO. He is an Alumnus of the prestigious Lagos Business School and a member of Advertising Practitioners Council of Nigeria (APCON).

Funke Nwankwo,

Chief Operating Officer, Wetherheads Advertising Group Limited

A graduate of Psychology with post-graduate degree in Industrial and Organisational Psychology, Nwankwo has over 17 years work experience in various advertising agencies, eight of which were in Insight Communications, where she started as an Accounts Planner and rose to the position of Accounts Director, before joining SO & U Saatchi & Saatchi in 2004 as Associate Client Service Director. She was later appointed the Chief Operating Officer (COO) of Quest Publicis Advertising Limited, a second line Agency of SO & U Saatchi & Saatchi in 2008. She later held the position of Executive Director/ Chief Operating Officer of the same Agency from January 2009 to December 2012.

Helen Ese Emore, He is a thorough-bred marketing and communication professional, who has garnered experience spanning both advertising and agency sides. Before his three years sojourn at Rosabel, where he became the managing director, he was the executive director in charge of business development at Insight Communications. He began his career in marketing as a Trainee Manager in Leventis Motors from 1992 to 1993. He was at different times a Management Trainee at Lever Brothers Nig Plc (now Unilever Nigeria) from 1993 - 1995, Brand Manager at Lever Brothers Nig. Plc from 1995 - 1997 and Senior Brand Manager, SmithKline Beecham Nig. Plc from 1997 - 2001. He crossed over to advertising when he joined Insight Communications as Senior Account Director in 2001. At Insight he served severally as Group Account Director, New Business Development Director and Executive Director, New Business Development.

Tunde Thani,

CEO, Vantgarde

An expert in communications strategy and marketing with demonstrated track record of managing development projects, driving growth, reducing costs and improving operations of government agencies, businesses and Non-Governmental Organisations, Helen has worked on sponsorship programmes, management of events, marketing communication and issues management campaigns for reputable organisations such as Nestle Plc, Evans Medical, Continental Pharmaceuticals, Chevron Plc, Courteville Plc, Virgin Nigeria and A&G Insurance.

CEO, Explicit Communications Limited

Tunde Ojo,

Thani, who holds a 2nd Class Upper degree and Msc both in Mass Communications from the University of Lagos, is a consummate and astute professional advertising practitioner of almost 30 years. He is a fellow of Advertising Practitioners Council of Nigeria (APCON), Fellow Chartered Institute of Marketing Communication (FCIMC) and Fellow Chartered Institute of Marketing (FCIMN). A recipient of many industry awards including the

A thoroughbred communications professional, who has helped in giving strategic direction to major brands from Fast Moving Consumer Goods (FMCG), financial services to Non-for-Profit organisations in the Nigerian market, Ojo holds B.Sc and M.Sc degrees in Mass Communications from University of Lagos. He is also an alumnus of Lagos Business School’s (LBS) Chief Executive Programme (CEP) and had pre-

CEO, Touchstone

Special Report

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

viously worked in two foremost advertising agencies in Nigeria, Insight and Lintas, and two respectable financial institutions- International Merchant Bank (IMB) (established by First National Bank of Chicago) and First City Merchant Bank (FCMB), the first indigenous investment bank in Nigeria. Tunde has attended many training programmes both within Nigeria and offshore in management, communication, marketing, branding and leadership.

Yomi Benson,

Managing Director/CEO, Culture Communications

Until his appointment as Managing Director, Omemu, he was the Creative Director of Rosabel. He succeeded Oluwasona as the Managing Director of the agency and studied at the University of Port Harcourt.

Adedayo Ojo,

Managing Director/CEO, Caritas Communications

Kayode Ebatamehi,

Chief Operating Officer, Bluebird Communications

A graduate of the humanities Yomi holds a PGD in

Clement Omemu,

Managing Director/CEO, Rosabel

Advertising and a Masters in Business Administration. As a full member of APCON with over 18 years rounded experience in advertising, brand management and sales, YB, as he is known to his friends, is no stranger to the world of brand management. He commenced his advertising career at OBM as a Client Service Executive in 1994 from where he left to STB-McCann and rose to Group Head Client Service before he left the organization in 2001. In 2001, he joined BAT as a Brand manager on International VFM Brands but later went back to the advertising world as a Senior Account Director at Insight in 2004. He did exceptionally well and was promoted to Group Account Director in 2005. He left Insight to become the Managing Director of Media Plus in 2009. Yomi alongside a small group of believers founded Culture Communications in January 2010.

Kayode exudes advertising and has dedicated his entire professional career to building brands across diverse business sectors. Beyond building brands, he is passionate about developing brand champions, who define advertising as a passion and not a job. Mr “Bang On”, his popular phrase when excited, shares the conviction that a modern agency must be able to “Predict and Exceed” the expectations of consumers in order to remain relevant to the business goals of clients. He sees no border between work and fun, because advertising offers him the rare opportunity of being paid for having lifetime fun. He holds a degree in History from the University of Lagos in 1990, and an MBA (Marketing) from Delta State University, Abraka.

Odun Fadoju,

CEO, DP Partnership +FCB

Tunji Olugbodi,

GMD/GCEO, Verdant Zeal A foremost reputation and corporate communications strategist, Dayo has over 25 years experience spanning journalism, issues management, stakeholder relations, and corporate social responsibility programmes management. Prior to setting up Caritas Communications, he spent 15 years with ExxonMobil’s Nigerian affiliate, Mobil Producing Nigeria (MPN), where he made a mark overseeing the Public Affairs unit. Dayo retired in 2006 as Manager, Government Relations and Head of Abuja Office. Also, he had a stint as pioneer Vice President in charge of Corporate Relations with Transnational Corporation of Nigeria Plc. A graduate of University of Ife (now Obafemi Awolowo University), Dayo holds a 1984 Master of Arts Degree in Communication Arts from the University of Ibadan as well as a Diploma in Public Relations from London.

Joe Anatune,

Managing Director, B43 Communications

Anatune had his primary education in Awaka and secondary school in Emekuku, Owerri, Imo State. He attended the University of Nigeria, Nsukka, to study marketing and graduated in 1985. Since then, he has been in general marketing and advertising management. He started his working experience with Nipol - a plastic manufacturing firm based in Ibadan. From there, he worked briefly with May Manufacturing Company Limited and later joined Dawn Function, where he rose to become Executive Director and Chief Operating Officer, Lagos office. He left the company and with some friends, founded B3 Communications

Temitope Jemerigbe,

Managing Director, DKK & Associates

In her 15 years of practice that have covered some of Nigeria’s biggest advertising agencies, from STB McCann Lagos to Prima Garnet Ogilvy, and from ZK Advertising to DKK, her excellent work on such brands as Coca-Cola, Multichoice, Standard Chartered Bank, Dangote, UBA, Zain, Unilever, among others, reflect her philosophy that “there is no end to perfection.” Under her leadership, DKK has grown in revenue exponentially in eight months and, if you ask her, “the company is just getting started.”

His sojourn into the industry, which has produced great titans, started from his days as an editor with The Guardian Newspaper. He rose through the ranks in the marketing communications industry working with SAAL Advertising, PromoServe, Grey and Prima Garnet Ogilvy where he championed innovative marketing strategies using the 360 degree tactics to execute major campaigns. After over a decade, he retired from Prima Garnet as the Executive Director to establish Verdant Zeal in 2007. Tunji and the Verdant Zeal Group were the first indigenous advertising agency to acquire marketing communication agencies in sub Saharan Africa. A co-coordinator of Nigeria’s first ever truly global advertising campaign on CNN in 1994, Tunji was also the pioneer chairman of the Lagos Advertising and Ideas Festival (LAIF), the industry’s first ever-creative awards, which he organised to international standards. He is a fellow of the Advertising Practitioners’ Council of Nigeria (APCON) and Nigerian Institute of Marketing (NIM) and also a member of the Chartered Institute of Marketing (CIM), London and Institute of Directors (IoD).

Henry Bassey,

Chief Enthusiast, Digibrands Limited

He is a seasoned marketing consultant and effective communicator with strong business development competencies garnered over the past 19 years of postgraduate work experience in highly competitive markets such as Nigeria, South Africa and the UK. Henry has over these years, developed strong brand management skills to deliver lucid solutions in the Public & Private Sector whilst specialising in the areas of media, strategic planning, research, advertising, public relations and corporate affairs, for organisations such as the Central Bank of Nigeria (CBN), Nigeria Security Printing and Minting Company (NSPMC), Emirates, Coca-Cola, British American Tobacco, Unilever, Nestle, Visa, GSK, Access Bank amongst others. A graduate of Economics from the University of Jos and a Master Degree in Marketing from DeMontfort University, Leicester UK,Henry is a seasoned marketing consultant and effective communicator with strong business development competencies garnered over the past 19 years of post-graduate work experience in highly competitive markets such as Nigeria, South Africa and the United Kingdom.

He began his advertising career at PAL Advertising Ltd and has since worked in many agencies: Kilburn Advertising, Bluebell Advertising, Rocke-Forte Advertising and Sunrise DMB& B where he left as the Managing Director in 2003 to team up with others to become the founding CEO of DP Partnerhip+FCB Nigeria. He has been involved in policy making in the advertising industry with Association of Advertising Practitioners of Nigeria (AAPN), now Association of Advertising Agencies of Nigeria (AAAN) and Advertising Practitioners Council of Nigeria (APCON) since 1986.

Tunji Abioye,

Managing Director, Fuel Communications

Abioye, until he floated Fuel Communications, was the managing director, Rosabel. He started with Rosabel as an executive trainee and later became the Managing Director of the company. He spent 16 years at Rosabel.

Afolabi Sorunke,

Managing Director/CEO, Business Strategy & Communications

Afolabi, who emerged the best graduating student of the English Department of Ogun State University in 1988, started his career in communications with The Guardian Newspapers, which he joined as Supplement Executive in October 1989. Afterwards, he moved on to The Punch Newspapers as a Special Projects’ Executive. In October 1991, Afolabi came into mainstream advertising when he took up appointment with Total Marketing Communications Ltd.; as Senior Client Service Executive, virtually overseeing the agency’s portfolio, which included R.T Briscoe, Dell (Tritech) Computers, Wema Bank, Eagle Package and Toyota among others. He rose through the ranks to become Accounts Director & Head of Department in 1998. In April 2001, Afolabi joined the services of DDB, a multinational advertising firm as Senior Business Development Manager. At DDB, he handled blue-chip accounts such as Sony, Mercedes-Benz, UBA, First Atlantic Bank, Emirates Airline etc. He left DDB in April 2004 to co-found and manage BSC Ltd.

40 Special Report Yinka Ogunde,

Managing Director, Goals & Ideas

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

communications counsel to a select clientele including: Apple (Core Group Africa), Emirates, Fedex RedStar, MasterCard, Cotecna, Cheveron among others.

Yomi Badejo-Okusanya, CEO, CMC Connect

A graduate from University of Lagos in 1984 with a B.A English and MSc Mass Communication, she is one of the few seasoned marketing communications strategists. Yinka had a stint with the Nigerian Television Authority and the Broadcasting Corporation of Oyo State, and have since been in the marketing communications field. She began her career at Promoserve, where she worked on several multinational accounts. She later served with M-Gold Communications before setting up Goals & Ideas.

Gabriel Abah,

tional’s Brandfaces Magazine where he rose to become an Editor, is a 1992 graduate of Communications Art from the University of Ibadan. He also worked at Ruyi Communications (Advertising & PR practitioners) as a General Manager/MD. He made a comeback to journalism when he joined TPT International as Group Head, Publications. As an entrepreneur, he published Marketing Standard – an all gloss marketing magazine until his appointment as the managing director of PRRedline then known as FCB Redline.

Celey Okogun, His deep knowledge of the public relations industry and business is not in doubt. Badejo-Okusanya, who once served as a Council Member to the national body of Nigeria Institute of Public Relations (NIPR), is a graduate of History from the University of Benin. He has to his credit over two decades of work experience. He is currently the SecretaryGeneral of the African Public Relations Association.

Managing Director, Novelpotta Y & R

Managing Director/CEO, Solutions Communications Ltd

Chido Nwakanma,

He has traversed the marketing stretch in some of the best companies in Nigeria: United African Company Nigeria (UACN), Mobil Oil, Insight Communications Limited and MC&A, an offshoot of Insight Communications. At UAC he had a foretaste of work before moving on to Mobil Oil in Sales Operations, from where he moved into Marketing Communications at Insight. He was Account Director and then Senior Account Director before he was moved to the Client Service Department of MC&A - an offshoot as Associate Director. While at Insight and MC&A, he was involved in the development of Advertising and Public Relations strategies for several blue chip clients and famous brands such as DHL and Texaco among others.. An Alumnus of Bolton Institute and the Manchester Metropolitan University UK, he holds an MBA degree [Marketing].

Nwakanma, who has distinguished himself in the areas of public relations management, strategic communications, and publication management among others, is the current president of Public Relations Consultancy Association of Nigeria (PRCAN). He holds a B.A Mass communications from the University of Nigeria, Nsukka a Masters Degree in Industrial Sociology from the University of Lagos.

He holds a master’s degree in Communication Arts and a PhD in Organizational Leadership at Capella University, US. Celey had a brief stint in publishing as a Senior Editor in 1990 before venturing into core advertising in 1993. A member of both the Advertising Practitioners Council of Nigeria (APCON) and the Nigerian Institute of Public Relations (NIPR), he began his career in marketing communications at Insight-Grey in 1993 where he rose to become an Account Manager, guiding strategic marketing efforts for world space, in the West African market. He joined DDB CASERS in 1998 as a Senior Business Development Manager and Head of Client Service during, which he supervised accounts such as Glaxowellcome, Smithcline, Sona Breweries (Maltonic, Gold beer), Equatorial Trust Bank and the Nigerian National Petroleum Corporation, among many other high profile accounts.

Tokunbo Modupe,

Bolaji Okusaga,

Managing Director, IMS Advertising

Modupe, who runs the company with Charles Igbinidu, has carved a niche for himself in the Nigeria’s PR business. In the last two decades, Toks, as he is fondly called by admirers, has proved beyond any reasonable doubt that he knows his onions as far as both the business and practice of public relations are concerned. The company has won several local businesses that cut across finance, telecoms among other sectors.

A leading brand and communications specialist in West Africa, Esiekpe is a graduated from the University of Lagos with an Honours Degree in Mass Communication. He also has Postgraduate certificate in Strategic Marketing Management from the Harvard Business School and a certificate in Executive Development from The Wharton School, University of Pennsylvania. He worked for Unilever/Heineken as Sales and Marketing Manager (Sierra Leone), Sales and Marketing Director (Ghana), Sales and Marketing Director (Nigeria). His experience stretches across various functional areas of marketing in the Fast Moving Consumer Goods (FMCG) market segment.

Nn’emeka Maduegbuna,

He attended Obafemi Awolowo University, Ile-Ife where he studied Dramatic Arts. Upon completion of his first degree, he was under the tutelage of Chief Segun Olusola and Oba Gbenga Sonuga in Arts Management at the International Centre for Arts Lagos. After his Youth Service, he proceeded to the University of Ibadan where he acquired a Master’s degree in Communication and Language Arts. Upon completion of his masters, he ventured into independent T.V production and marketing of programmes. He moved from broadcasting into PR, joining Presentations Plus in 2002 where he helped manage the publicity aspect of the Obasanjo-Atiku 2003 Presidential Campaign. From there, he moved to Marina International Bank as Head of Communications and upon the merger of the defunct Marina Bank with Access Bank, he became the Head of Investor Relations at Access Bank before moving to Ecobank as Head, Branding.

Dan Esiekpe,

Dr. Phil Osagie,

Global Strategist, JSP Corporate Communications & JSP Canada Corporation

A global communications and PR specialist with vast experience and track record in helping multi-billion dollar corporations succeed in Nigeria, West Africa and chosen emerging markets, Phil was the pioneer chief executive officer of the first full-fledged Public Relations Consultancy firm, The Quadrant Company. Phil, who schooled at Anglia Ruskin University, Cambridge, England, is a trusted communications adviser to almost 10 fortune 500 companies and selected governments, PR and

CEO, Blueflower Limited

Chairman,TPT International

Chairman/CEO, C& F Porter Novelli

Maduegbuna brings close to three decades of experience in strategic communications planning, corporate positioning and reputation management, as well as extensive practice in the areas of issues and crisis management and litigation communications. Recognised as one of the leading Public Relations practitioners in the West African sub-region, he continues to lead consulting teams on complex communications programmes covering a wide variety of sectors and industries. Prior to co-founding C&F Porter Novelli, Nn’emeka was a senior functionary of the Nigerian government privatisation agency, Bureau of Public Enterprises.

Lekan Ishola

Managing Director, PR Redline

Lekan, who started his marketing Communications career with SDI Associates and later joined TPT Interna-

Managing Director, The Quadrant Company

John Ehiguese,

Managing Director, Mediacraft Associates

The founder and Chief Executive Officer of Mediacraft Associates Limited, John is a graduate of Mass Communications and also holds an MBA from the Lagos Business School (Pan African University). He is also an alumnus of the IESE Business School, University of Navarra, Barcelona, Spain. He brought into Mediacraft, over 20 years crossfunctional experience spanning Sales and Marketing, Journalism, Broadcasting, Advertising and Public Relations (10 of which were in senior management positions). In 26 July 2010, he was elected the Secretary General of the Public Relations Consultants Association of Nigeria (PRCAN).

Business | Financial Market News

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

FMDQ Daily Quotations List

31-Oct-14

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description

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

535.00 563.89 452.80 20.00 100.00 300.00 351.30 233.90 600.00 371.68 75.00 150.00 200.00 591.57 130.00

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

TOTAL OUTSTANDING VALUE

4,675.13

TOTAL MARKET CAPITALISATION

4,642.49

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

Bid Price

Offer Price

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

0.48 1.79 2.49 2.74 2.83 3.58 4.66 4.98 7.24 9.37 14.08 14.56 15.06 15.73 19.71

Bid Yield (%) Offer Yield (%) 11.02 12.22 12.46 12.55 12.56 12.60 12.60 12.68 12.63 12.60 12.80 12.82 12.85 12.72 12.71

10.68 12.13 12.39 12.48 12.49 12.49 12.52 12.58 12.57 12.55 12.76 12.78 12.79 12.67 12.67

96.81 101.25 105.50 93.85 92.52 94.63 111.65 79.50 117.45 108.60 114.15 97.81 71.35 81.65 95.90

96.96 101.40 105.65 94.00 92.67 94.93 111.95 79.80 117.75 108.90 114.45 98.11 71.65 81.95 96.20

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 3.00 112.22 116.70 66.49

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

0.56 1.30 2.11 2.47 2.68

2.63 2.27 2.00 1.00 1.00

13.67 13.95 14.40 13.53 13.55

92.80 103.97 101.18 98.79 96.04

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 10-Oct-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

0.83 0.67 0.96 0.96 2.47 1.51 3.17 2.34 3.93 2.34 2.34 2.72 2.98 5.06 2.94 3.50 6.07 6.17 3.65 3.68

4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 2.74 1.00 1.00 1.94 1.44 1.95

15.65 14.34 15.74 14.77 18.12 12.94 14.37 14.29 13.62 13.48 17.26 13.55 13.57 13.68 15.30 13.60 13.68 14.62 14.05 14.56

97.58 99.64 98.79 101.21 84.38 101.43 99.04 99.58 101.08 102.17 94.01 102.10 104.58 102.91 98.79 103.07 99.25 101.46 101.37 101.34

Agency Bonds FMBN ***LCRM

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

322.97

TOTAL MARKET CAPITALISATION

318.59

Sub-National Bonds A+/Agusto A/Agusto A-/Agusto A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A-/Agusto; BBB+/DataPro A/Agusto A-/GCR

KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS KOGI *EKITI *NASARAWA

31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 10-Oct-13 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14

12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 10-OCT-2020 13.50 LAGOS IV 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 15.00 14.50 15.00

8.50 4.18 6.27 7.37 57.00 29.92 25.00 34.14 9.00 14.96 11.13 27.00 16.23 80.00 27.51 11.40 87.00 5.00 4.78 4.79

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

471.18 465.08

Corporate Bonds Aa/Agusto

13.50 GUARANTY TRUST 18-DEC-2014

18-Dec-09

13.50

13.17

18-Dec-14

0.13

5.21

16.32

99.53

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

2.00

31-Dec-14

0.17

8.71

19.86

99.36

GTB NGC

Nil Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

3.61

17-Aug-15

0.55

4.88

15.91

97.43

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

13.62

09-Dec-15

0.63

1.00

12.08

100.39 100.85

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.60

06-Jan-16

0.70

2.63

13.76

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.91

1.00

13.29

99.50

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.98

1.34

13.69

100.93

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.92

1.00

13.56

98.65

BBB-/GCR

*C & I LEASING

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.73

30-Nov-17

1.73

1.88

14.01

107.30

Nil

*DANA

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.94

3.48

15.79

100.48

A-/DataPro†; BB-/GCR

*TOWER

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

2.11

5.20

17.60

100.96

AAA/DataPro†; A+/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

2.11

5.06

17.46

101.82

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.89

1.35

13.97

100.04

Bbb+/Agusto; BBB+/GCR

*LA CASERA

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.40

18-Oct-18

2.21

2.29

14.73

101.89

BBB-/DataPro†; BB+/GCR

*CHELLARAMS

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

17.00

0.41

17-Feb-19

2.30

6.11

18.58

97.51

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

3.17

2.16

14.74

103.10

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

2.05

14-Nov-20

6.04

2.76

15.44

99.26

A/GCR

STANBIC IBTC

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

30-Sep-14

N/A

0.10

30-Sep-24

9.92

1.00

13.65

86.88

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.92

1.00

13.65

97.84

11-Feb-18

3.28

1.00

13.58

91.24

Bid Price

Offer Price

A/GCR

14-Nov-13

15.25

TOTAL OUTSTANDING VALUE

144.16

TOTAL MARKET CAPITALISATION

143.71

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE

12.00 10.95

TOTAL MARKET CAPITALISATION Rating/Agency

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

5.16

5.01

108.37

Issuer

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

109.22

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.31

4.09

102.73

103.51

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.48

5.36

106.13

106.95

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,586.18

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

8.61

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

4.09

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

6.54

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

9.17

8.44

93.23

95.32

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.06

5.90

99.79

100.36

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

6.45

99.25

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

9.22

8.86

98.27

99.60

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

8.11

99.75

B-/Fitch; B/S&P

AFREN PLC III

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

7.99

93.50

B-/Fitch; B/S&P

ACCESS BANK PLC II

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

24-Jun-14

9.25

400.00

24-Jun-21

9.14

8.94

100.75

101.75

B-/Fitch; B/S&P

FIRST BANK LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

8.21

97.95

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.45

8.25

100.49

101.52

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 4,754.55

**Treasury Bills DTM 13 20 27 34 41 55 62

Money Market

FIXINGS Maturity 13-Nov-14 20-Nov-14 27-Nov-14 4-Dec-14 11-Dec-14 25-Dec-14 1-Jan-15

Bid Discount (%) 10.65 10.15 10.70 10.70 10.80 10.80 10.95

Offer Discount (%) 10.40 9.90 10.45 10.45 10.55 10.55 10.70

Bid Yield (%) 10.69 10.21 10.79 10.81 10.93 10.98 11.16

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.4833 12.3369 13.2888 14.2661

Tenor

Rate (%)

OBB

10.25

O/N

10.50

Tenor Call

REPO

Rate (%) 10.25

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

165.55 165.73 165.99 166.64 167.77

165.65 165.96 166.30 167.25 168.84

Business | Interview

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Proust: No refinery investments Total has operated in Nigeria for the past 60 years but the first female Managing Director of Total Upstream Companies in Nigeria, a subsidiary of the French oil giant, Mrs. Elisabeth Proust, says the company does not intend to build a refinery in Nigeria in the nearest future. ENERGY EDITOR, Adeola Yusuf, presents the no-hold-bar chat. Excerpts What’s your plan on gas flaring? How long will it take the company to control it? Ofon is the only major installation where we have gas flaring and we will stop flaring there in January 2015. All the other installations, onshore on OML58, on the FPSO and on other platforms that we have, are already connected to a gas utilisation solution designed to inject or commercialise the gas. So we will achieve zero flaring, though installations will maintain a small steady flow of gas to maintain a safety flare. All gas flaring associated with oil exploration will be stopped by January 2015. There will be a formal flare out ceremony to which you will be invited. Do you have any programme on gas supply? We have invested in a 24-inch wide 50 kilometre long pipeline onshore starting from OML58 to go to Imo River. Here, we already have a contract with the Alaoji Power Plant and this is our first customer and we will be ready in 2015 to deliver 100 million cubic meters per day. We have contacted other industrial users, not just power plants, because when you have the energy, it stimulates development. My plan is that by 2017, we should evacuate 300 million cubic feet of gas through the pipeline. It’s a huge pipeline crossing several communities. So, it was not so easy. The cost of the pipeline is now around $900 million. To get return on such investment in pipeline, we need effectively good clients and an improved gas price. The improvement on gas price is good but it cannot cover the budget of the pipeline. I hope that with increased industrial uptake, we will be able to achieve a better price and we can offset the cost of investment in the pipeline. To stimulate the development of gas facilities, we calculated that the average price of the gas will be between $5 and $7 per million btu. If fiscal terms change, then it will affect the price. What is your view on the notion that international oil companies (IOCs) are playing politics with the Petroleum Industry Bill (PIB)? At Total, we don’t play politics. It is the role of government and legislature to produce laws. But it is difficult for us to understand why we should not be aware of what is going

to happen especially as we are investing billions of dollars in this sector under agreed terms which may change without any consultation. Total has taken the risk to launch projects because we believe that the conditions will remain the same but with improvement through the PIB. Among the major things we seek in the PIB, apart from stable fiscal conditions that promote investment, are reduced bureaucracy. Today, getting approvals is very complex. The duration of getting approvals in Nigeria is the longest globally with the complexity in the number of agencies that we have to face. This is one of the areas we expect that the PIB will address. The other is on gas terms. The PIB should address both fiscal and non-fiscal policies that will accelerate the development of gas. And this is our expectation of the PIB. What will you do if the PIB does not favour Total? There was a South American country that suddenly made big changes to existing fiscal terms and conditions. Many IOCs left the country. Total is still working in that country but at a very low level and we have been unable to do any new project in that country because of the change in its fiscal policy. Government revenues dropped dramatically and government is now reviewing its current policies to bring back investments. We sincerely hope that it is not going to be the case in Nigeria. This is because the dialogue is still there and because the magnitude of our investment is such that I hope that we will be able to convince all stakeholders that it is important to first sustain the existing contracts and conditions and second, to increase investment and production. Shale oil has been described as an energy changer and so far, we have been seeing the implications. What do you think Nigeria can do to tackle the threat of shale? First, Nigeria has many resources, and I have to say that Nigeria also has unconventional resources. They are not yet developed, but there is a long term future for Nigeria because what has been developed and explored is what we call the conventional resources which are onshore, offshore and deep offshore. However, what we call unconventional shale oil or shale gas has not yet been explored

Proust

in Nigeria. We presume it is in Nigeria. When it is discovered, Nigeria will have changed the face of the world with unconventional resources. What is most important for Nigeria is to ensure that there is market for the oil. There are still many countries that have no resources. So there is a market worldwide. To constantly see where the market is may be difficult, but there is no worry on the value of the oil and gas resources in Nigeria.

All gas flaring associated with oil exploration will be stopped by January 2015. There will be a formal flare out ceremony to which you will be invited

Oil theft has become a cankerworm in the nation’s oil output and the economy as a whole. What is your view about this saga? The issue of oil theft is a major concern for everybody. We need to be very precise for Total. Total trading company lifts our own share of oil. We don’t lift oil for any other organisation or government. Therefore, we cannot be accused of contributing to oil theft. We produce oil onshore on OML 58 and transport it to Bonny terminal through the Trans Nigeria Pipeline operated by SPDC. We have installed metering to know the quantity we inject into the pipeline and we equally measure what is delivered on arrival at the terminal.

Using simple arithmetic, we know what has entered and we know what has arrived. The differential is what has been stolen in transit from point of injection to point of arrival. These are precise calculations. Between 2010 and 2014, I will say on the average, we have lost seven per cent of Total’s operated production, which works out to about a minimum of 3,000 barrels of Total operated oil production stolen daily. For Total, the oil theft is a big concern because we are not only moving oil through the pipelines, we are also transporting gas; so when this pipeline is stopped, we also have to stop gas production. In order to minimise production losses, we have put in place a 42-inch O.U.R pipeline, so called because it starts from Obagi through Ubeta to Rumuji (O-U-R). This is in order to allow us to still be able to produce gas when the Trans Nigeria Pipeline is stopped for any reason. We are partners in the Shell Petroleum Development Company (SPDC)-operated joint venture which has a much larger onshore presence with movement of crude oil through a much larger network of pipes. The oil theft from those pipelines is much more dramatic

Business | Interview

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

in Nigeria for now and we also suffer losses based on our interest in the production from that joint venture.

What particularly are the stages of the projects, the prospects and challenges? Usan is in production but we have transferred the operatorship to ExxonMobil because ExxonMobil has higher equity than Total. However, for Egina FPSO, there is a start-up now on the construction and integration of the construction yard. The subsea manifolds are being fabricated in the Aveon yard in Port Harcourt. The last part is the drilling rigs. The two drilling rigs will start to drill maybe in December 2014 but most likely in January 2015. One is already in Nigeria and the other will arrive this month. So, all the parts of the projects are going well. We are well prepared.

Casualisation and contracting terms of employment have become issues in Nigeria, especially with oil companies. What is Total’s disposition to the issues? We have no casual workers, absolutely zero. All the workers are covered directly with an employment contract either directly by Total or by their contractor firms which then send them to work in our offices. We have no casual workers. It is very important because if we want to get the standard and quality required, we need to have qualified people who are used to working in our kind of environment. So we always either hire directly or we get contractors to provide qualified staff. All such persons have clearly defined employment contracts. We make sure of that. There has been an issue that companies you contracted to work for you don’t treat those workers well. And people outside view these workers as Total staff. People don’t know they work directly for a contracting company. How do you take care of this? In the contract, we really take care to ensure that the company will effectively give the benefits of the work to the personnel. We audit the contractors and the employment contracts to be sure that the people are properly treated, that they receive their salaries on time that their end of service benefits are defined and so on. Each year, we check to confirm that these people have access to good health and medical check-ups and this is for all the persons working for us. When other IOCs could not implement new projects and complain of non-passage of PIB, Total is bringing new project on stream. What could have informed this disposition? Nigeria is one of Total’s biggest affiliates. One of Total’s attributes is boldness and we took a bold attitude to commence the development of Egina as we are reasonably confident that for the existing production and projects, government and legislature would look at the risk and very heavy investment we have undertaken and decide not to modify initially agreed investment and fiscal terms. However, on PIB, we don’t really know the content of the draft in circulation as at now. This was because the last time the industry had access to the draft was during the public hearing of April 2014. Since then, we have never had any official access to the terms. What we understand could be in the actual PIB draft is a big worry for Total. This is because we have started all these deep offshore projects on the economics of existing terms and condition of our production sharing con-

in maintaining production with very little exploration. But the future of Nigeria is in exploration to renew reserves and to find development opportunities. For us, it is clear that we have to continue exploration.

Proust

tracts or PSCs we signed with NNPC and government. We took the risk in accordance with the terms of the PSCs, which many people don’t realise meant that we make all the investment with government paying nothing. If we didn’t find oil, then we lost everything without compensation or any recovery from government. We took the risk but on the other hand, when you take a risk, you want your reward and the real reward is to be able to maintain our investment in Nigeria and our commensurate returns in line with the contracts. For the joint venture projects like Ofon 2 and OML58, we are very close to concluding the development of those projects. But for Egina, which is a deepwater PSC project, we are just at the relatively early stages and we will continue based on the actual fiscal and PSC terms that we know. On other projects, I want to say that Usan is my baby. I was involved in Usan right from when I was in charge of project architecture and engineering for E&P at Total Headquarters and I was happy that Usan was on-stream by the time I came to Nigeria as MD. We have discovered more fields like Ikike, Ubeta, and on the deep offshore we are conducting appraisal oil well. We still have a lot of projects in our portfolio. Some need to perform. Some are undergoing appraisal but I will say that my major objective as MD in Nigeria is to perform exploration. I am concerned that most of the companies in Nigeria are involved only

For now, we do not intend to build a refinery. Not yet, but I will not want to say never. This is because it depends a lot on how we understand the chain from the upstream, midstream and downstream.

How is Total’s HR policy taking care of capacity utilisation? We have a staff of about 3,000 employees and we continue to recruit, we have filled 75 positions this year. We plan to reduce the number of expatriates working in Nigeria, especially specialists. This is the reason behind developing educational programmes that will assist in creating a pool of specialists from within the country. It is a long term process, like in Indonesia where I was managing director before coming to Nigeria, where we have increased the capacity of the national employees. As I said before, we have systematic approach such that once there is a vacancy, the structure is that the first consideration goes to a Nigerian with competency to handle the task. This is how we have been able to continue to reduce the number of expatriates in the company. However, on big projects like Ofon 2 and OML 58, we still have some specialist expatriates but we have Nigerian employees who are ready to continue the project. When will Total put up a refinery in Nigeria? For now, we do not intend to build a refinery. Not yet I will say. The midstream has been reserved for a long time for the national company and how to insert us in this business is particularly difficult. So, not yet, but I will not want to say never. This is because it depends a lot on how we understand the chain from the upstream, midstream and downstream. What is the company doing to support the country in the fight against Ebola virus scourge? I just made a round trip to Abuja, Port Harcourt and Lagos on this subject. What we have done, first, is to hold a very big information session in all locations. We started with Lagos at the end of July after the first case and we had information sessions about the virus, how you can get it, what you should

not do, how to prevent it and how to decontaminate. Total operates three clinics, one each in Abuja, Port Harcourt and Lagos. In these clinics, we do temperature check prior to access; we have questionnaires that check where you have been and how you feel. The questionnaire is administered to all staff in Nigeria, employees, contractors and expatriates and we also distribute this to our staff to use with their families, relatives and personal staff at home. What is Total doing in the area of provision of alternative energy? Total in Nigeria has decided to focus on one type of alternative energy which is Solar. We started in many countries in West Africa, Asia and the Middle East by providing energy to the people with no lights and no electricity. We also bought one of the leading developers of solar panels, called Sun Power. It is good to see that CSR can lead to an industry change. Total has developed what we call the Awango solar lamp for personal use where electricity supply is not constant. We sell this through Total filling stations in Nigeria but hope to also move it into commercial stores. There are two types of solar energy depending on how electricity is generated from the sun. The first types are photovoltaic cells. This has special cells which capture the sun radiation even where you have clouds. This was the case in Indonesia and it is also the case for Nigeria - you need to use photovoltaic cells. The second one uses a system of direct mirrors. We used this in Abu Dhabi because we have constant direct radiation from the sun. But for Nigeria, if you want everyday electricity, the photovoltaic system is the right technology to use as it works even in a rainy country though it is obviously more effective if it gets direct sunlight. Total has developed industrial solar plants in several countries and in Nigeria we started three years ago. We identified five projects that we could do in collaboration with other companies and some institutions that provide funds to assist in the creation of such projects. The funds are not from us but they provide for our partners. At the present, we are planning to launch one of the projects in 2015. This requires a lot of measures because you need to effectively identify the best location with high intensity of radiation. The North of Nigeria is the best place because it has the most sun. We have a project in Katsina because it is an ideal position with a lot of sunlight and less clouds and rains. We work with authorities to achieve our objective. We are targeting plants of about 200 to 300 megawatts so we can reach something around 1,000 megawatts. So, this is really an industrial development. We have a big organisation on solar energy in Total in Nigeria and we have a special team that are ready to assist on the special technical side to address any challenges.

***LCRM

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

03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

17.25 0.00/16.00 0.00/16.50 0.00/16.50

3.00 112.22 116.70 66.49

TOTAL OUTSTANDING VALUE

322.97

TOTAL MARKET CAPITALISATION

318.59

03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

1.30 2.11 2.47 2.68

2.27 2.00 1.00 1.00

13.95 14.40 13.53 13.55

103.97 101.18 98.79 96.04

0.83 0.67

4.44 3.23

15.65 14.34

97.58 99.64

101.21

Sub-National Bonds 31-Aug-10 30-Sep-10

12.50 13.00

8.50 4.18

31-Aug-15 30-Sep-15

30-Jun-11 30-Jun-09

14.00 15.50

6.27 7.37

30-Jun-16 30-Jun-16

0.96

3.48

14.77

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.47

5.59

18.12

84.38

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

A/Agusto A-/Agusto

*EBONYI *BENUE

13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016

Business | Financial Market News

0.96 4.46 15.74NEW TELEGRAPH 98.79 MONDAY, NOVEMBER 3, 2014

A+/Agusto A+/Agusto; A+/GCR

*IMO LAGOS

A-/Agusto A/Agusto

*BAYELSA EDO

13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017

30-Jun-10 30-Dec-10

13.75 14.00

29.92 25.00

30-Jun-17 31-Dec-17

1.51 3.17

1.00 1.79

12.94 14.37

101.43 99.04

A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR†

*DELTA NIGER *EKITI

A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR

*NIGER *ONDO *GOMBE LAGOS *OSUN

14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019

30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12

14.00 14.00 14.50 14.00 15.50

34.14 9.00 14.96 11.13 27.00

30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19

2.34 3.93 2.34 2.34 2.72

1.80 1.00 1.00 4.78 1.00

14.29 13.62 13.48 17.26 13.55

99.58 101.08 102.17 94.01 102.10

103.10

Lack of regulation, bane of entertainment, says SEC major challenges facing of regulation, which has 02-Oct-12 15.50 GOMBE 02-OCT-2019 the sector.14.50 LAGOS 22-NOV-2019 resulted in a lot of self22-Nov-12 The Director General regulation in the sector. 12-Dec-12 14.75 OSUN 12-DEC-2019 Operators move *OSUN 10-Oct-13 A/Agusto 14.75 OSUN II 10-OCT-2020 of Commission, Ms. Regulation is important 27-Nov-13 Aa-/Agusto; AA-/GCR LAGOS 13.50 LAGOS IV 27-NOV-2020 Arunma Oteh, stated this in any industry to bridge capital 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 at the 18th yearly stockThat is where the capi31-Dec-13 A/Agusto 14.50 EKITI II 31-DEC-2020 formation gap *EKITI A-/GCR *NASARAWA brokers’ conference 15.00 NASARAWA 06-JAN-2021 and tal market comes06-Jan-14 in, In TOTAL OUTSTANDING VALUE investiture of fellows/ the US, banks raise monTOTAL MARKET CAPITALISATION induction of new asso- ey from the bond market ciates held in Lagos last for lending to movie proCorporate Bonds Stories by Chris Ugwu weekend. 13.50 GUARANTY TRUST 18-DEC-2014 duction houses; the ar18-Dec-09 Aa/Agusto GTB NGC 31-DEC-2014 01-Apr-10 NGC Nil “At the17.00 moment, the rangement is typically 10.00 UPDC 17-AUG-2015 17-Aug-10 Bbb-/Agusto *UPDC n spite the 4.1 per entertainment industry asset-based lending. JP 12.00 FLOURMILLS 9-DEC-2015 A-/Agusto 09-Dec-10 *FLOURMILLS cent the entertaincontributes 4.1 per cent Morgan, one of the larg14.00 CHELLARAMS 06-JAN-2016 BB+/GCR 06-Jan-11 *CHELLARAMS in ment industryNAHCO con- to the nation’s gross do- est investment banks 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDHnaraistributes to the mestic products (GDP), the world has been 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA tion’s Gross Domestic this tells you the poten- ing funds for the film 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING Products (GDP), the Setial of the industry if it industry in the US since MPR+7.00 DANA 9-APR-2018 09-Apr-11 Nil *DANA is well funded. curities and Exchange MPR+7.00 However, TOWER 9-SEP-2018 1920. It has expended 09-Sep-11 a A-/DataPro†; BB-/GCR *TOWER MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A+/GCR (SEC) *TOWER Commission has the industry faces a lot of $10 billion credit line 14.00 UBA II 22-SEP-2018 A/Agusto; A/GCR 22-Sep-11 UBA of identified absence challenges. One of such to the entertainment 15.75 LA CASERA 18-OCT-2018 Bbb+/Agusto; BBB+/GCR 18-Oct-13 *LA CASERA regulation as one of the challengeMPR+5.00 is theCHELLARAMS absenceII 17-FEB-2019 industry in 2011. 17-Feb-12 There BBB-/DataPro†; BB+/GCR *CHELLARAMS

CAPITAL

# #

are currently about 20 15.50 16.23 banks that are raising 14.50 80.00 funding for lending to 14.75 27.51 14.75 Hollywood,” Oteh11.40 noted. 13.50 Speaking on87.00 the 15.00 5.00 theme: 14.50‘The capital 4.78mar15.00 key catalyst 4.79 ket: the to the development471.18 of the 465.08 entertainment industry in Nigeria’, Oteh urged the entertainment 13.50 13.17 in17.00 to access 2.00 the dustry 10.00 3.61 nation’s capital market 12.00 13.62 to enable them benefit 14.00 0.60 from13.00 the market. 15.00 14.25 5.53 “The SEC started 20.00 very 13.00 early to collaborate 18.00 0.73 with16.00 the entertainment 6.30 industry to educate 18.00 2.90 the 16.00 0.80 investment community 14.00 35.00 and leverage on the in15.75 2.40 dustry to grow our capi17.00 0.41

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

A/GCR

STANBIC IBTC

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

30-Sep-14

N/A

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

Merger: Nigerian Breweries seeks shareholders’ approval

the re- the approval of the statu- informed the Board of 10.20 IFC 11-FEB-2018 IFC 11-Feb-13 ceipt of approval tory authorities, the dis- Nigerian Breweries that TOTAL OUTSTANDING VALUE from the Federal tribution of the Scheme it will not vote at the TOTAL Court MARKET CAPITALISATION High to hold a of Merger document to Court Ordered Meeting. Court Ordered Meeting, shareholders will comHeineken’s decision Description Rating/Agency Issue Date will give the minorNigerian Breweries Plc Issuer mence immediately. The would on December 4 in essential proposal before ity shareholders of the FGN Eurobonds Lagos, seek shareholders our shareholders is to company the sole discre6.75 JAN 28, 2021 BB-/Fitch; B+/S&P 07-Oct-11 approval for its proposed combine the operations tion to decide on whethBB-/Fitch; the merger with Consolidat- FGN of Nigerian Breweries 5.13 JUL 12,er 2018or not to approve 12-Jul-13 BB-/S&P edBB-/Fitch; Breweries Plc. Plc and Consolidated merger of the two com6.38 JUL 12, 2023 BB-/S&P Heineken, the majority Breweries Plc into one panies,” Vervelde 12-Jul-13 noted. TOTAL OUTSTANDING VALUE shareholder in Nigerian legal entity effected The scheme docuBreweries, acquired a con- through a Scheme of ment provides details TOTAL MARKET CAPITALISATION trolling stake in Consoli- Merger with Nigerian of the consideration and Corporate Eurobonds dated Breweries in 2005 Breweries being the other terms of the mergB/Fitch; B-/S&P AFREN PLC I 11.50 FEB 01, 2016 01-Feb-11 and is seeking to merge surviving entity.” er. Under the terms of 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 both businesses to take “For the proposed the Scheme of Merger, B+/S&P ACCESS BANK PLC 7.25 JUL 25, 2017 25-Jul-12 advantage of Nigeria’s merger to be approved, it is proposed that each B/Fitch; B/S&P FIDELITY BANK PLC 6.88 MAY 09, 2018 09-May-13 growing market forGTBANK beerPLC 75 per cent of the shareBreweries 6.00 NOV 08,Consolidated 2018 B+/Fitch; B+/S&P 08-Nov-13 and malt drinks. AFREN PLC II holders present and 10.25 vot-APR 08,shareholder will receive 2019 B/Fitch 08-Apr-12 6.25 APR 22,four 2019 B+/Fitch; ZENITH BANK PLC 22-Apr-14 In aBB-/S&P statement signed ing at the meeting will Nigerian Brewer8.75 May 21,ies 2019 shares for every B/Fitch; B/S&P DIAMOND BANKneed PLC 21-May-14 the Managing Director/ to vote in favour.” five AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 CEO, Nigerian BrewerHeineken N.V, 8.25 the shares held in Consoli6.63 DEC 09, 2020 B-/Fitch; B/S&P AFREN PLC III 09-Dec-13 ies, Mr. Nico Vervelde, majority shareholder in dated Breweries or elect 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II 24-Jun-14 said, “Having obtained Nigerian Breweries, has for a cash alternative. 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD 23-Jul-14 8.75 AUG 14, 2021

3.17

2.16

14.74

6.04

2.76

15.44

99.26

0.10

30-Sep-24

9.92

1.00

13.65

86.88

15.44

30-Sep-24

9.92

1.00

13.65

97.84

idson Healthcare Plc 143.71 has posted a 26 per cent growth in pre-tax profit for 11-Feb-18 3.28 the 12.00 third quarter ended September12.00 30, 2014. 10.95 In a notice to Nigerian Stock Exchange (NSE), the company’s Outstanding Value Maturity Date Bid Yield (%) ($mm) before tax grew from profit N545.037 million in the corresponding period of 2013 to 500.00 28-Jan-21 5.16 N685.825 million in 2014. Its profit after 500.00 12-Jul-18 tax (PAT) 4.31 also rose to 22 per cent from 500.00 12-Jul-23 N381.526 million in the Q35.48 of 1,500.00 2013 to N466.361 million in the review 1,586.18period of 2014. Gross earnings also firmed up to N7.510 billion from N7.240 450.00 01-Feb-16 8.61 billion, indicating a growth of 500.00 19-May-16 4.09 four per cent. 350.00 25-Jul-17 6.54 The healthcare company 300.00 02-May-18 9.17 had400.00 reported 08-Nov-18 a positive 6.06 Q1 result 300.00 as it recorded 08-Apr-19 a growth 9.68 500.00 of five22-Apr-19 6.45 in PBT per cent from 200.00 21-May-19 9.22 N269.563 million in the first 300.00 8.11 quarter of 201307-Aug-20 to N283.015 mil360.00 09-Dec-20 7.99 lion400.00 in the Q1 of 2014. 24-Jun-21 9.14 Similarly, Fidson an 450.00 23-Jul-21 posted 8.21

Supranational Bond ollowing

AAA/S&P

ECOBANK NIG. LTD

01-Apr-19

14-Nov-20

144.16

TOTAL MARKET CAPITALISATION

10.20

Coupon (%)

6.75 5.13 6.38

11.50 7.50 7.25 6.88 6.00 10.25 6.25 8.75 8.25 6.63 9.25 8.00 8.75

14-Aug-14

250.00

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4.50

2.05

Fidson grows Q3 profit by 26%

TOTAL OUTSTANDING VALUE

B-/S&P

tal market. Nigeria has Nigerians on the impor02-Oct-19 2.98 1.00 13.57 104.58 tance of savings102.91 and inever been celebrated 22-Nov-19 5.06 1.00 13.68 vestment. across the globe because 12-Dec-19 2.94 2.74 15.30 98.79 3.50 13.60plan is 103.07 of10-Oct-20 the works, which the1.00 “Our to con27-Nov-20 6.07 99.25 entertainment industry1.00 tinue 13.68 to leverage on 31-Dec-20 6.17 1.94 14.62 101.46 to101.37 teach does, and its contribu31-Dec-20 3.65 1.44 the industry 14.05 06-Jan-21 3.68 14.56 tion to our GDP. I be-1.95 our children the101.34 imporlieve that the challenges, tance of savings. Since which the industry faces independence, Nigeria are surmountable,” she has had world-renowned added. Nigeria is 18-Dec-14 0.13 5.21 entertainers. 16.32 99.53 31-Dec-14 0.17 noted8.71 a nation 19.86that is grossly 99.36 The SEC boss 17-Aug-15 0.55 4.88 15.91 97.43 that the entertainment misunderstood but the 09-Dec-15 0.63 1.00 12.08 100.39 industry if well-funded, entertainment industry 06-Jan-16 0.70 2.63 13.76 100.85 is29-Sep-16 capable of providing to 99.50 project 1.91 1.00 has continued 13.29 25-Oct-16 13.69 image100.93 lots of jobs and1.98 also solv-1.34 a positive for the 30-Sep-17 2.92 13.56 98.65 ing the nation’s unem-1.00 country,” she said. 30-Nov-17 1.73 1.88 14.01 107.30 ployment problems. Oteh15.79noted that the 09-Apr-18 1.94 3.48 100.48 She said the SEC has market is well positioned 09-Sep-18 2.11 5.20 17.60 100.96 09-Sep-18 2.11 17.46 101.82 been partnering with the5.06 to provide long-term 22-Sep-18 3.89 1.35 13.97 100.04 Nigerian entertainment funds that drive business 18-Oct-18 2.21 2.29 14.73 101.89 industry to sensitise growth. 17-Feb-19 2.30 6.11 18.58 97.51

14-Aug-21

increase of five per cent in its PAT, as it recorded N203.771 million compared with 1.00 13.58 the same 91.24 peN194.503 million riod of 2013. Revenue climbed up slightly by three per cent to N2.699 bilOffer Yield (%) Bid Price Offer Price lion from N2.624 billion recorded inPrices the corresponding period & Yields of the previous year. 5.01 108.37 109.22 Spurred by population increase country, constant 4.09 in the 102.73 103.51 upscale and sophistication of 5.36 106.13 106.95 Nigeria’s healthcare delivery, the Chairman of Fidson, Mr. Felix Ohiwerei had at the 15th Annual General Meeting (AGM) recently in Lagos, said 8.61 103.30 103.30 the company had commenced 4.09 105.04 105.04 its brand building and exten6.54 101.72 101.72 sion8.44 programme in the produc93.23 95.32 tion5.90 of new products. 99.79 100.36 The the ini9.68 chairman 102.00 said 102.00 6.45 99.25 line with 99.25 the tiative was in 8.86 98.27 99.60posistrategy to continuously 99.75 99.75 tion8.11the company as foremost 7.99 93.50 93.50 therapeutic segments in the 8.94 100.75 101.75 pharmaceutical industry . 8.21 97.95 97.95

8.45

4,760.00 4,754.55

8.25

100.49

101.52

31-Oct-14

CEO, ETI, Thierry Tanoh

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 Money Market **Treasury FIXINGS PLC TermsBills of Use and Disclaimer Statementon www.fmdqotc.com. Foreign Exchange (Spot & Forwards) DTM 13 20 FGN Bonds27 34 41 Rating/Agency 55 62 69 76 83 90 97 104 111 NA 118 125 132 146 160 167 174 188 279 TOTAL OUTSTANDING 307

VALUE

Maturity 13-Nov-14 20-Nov-14 27-Nov-14 4-Dec-14 11-Dec-14 Issuer 25-Dec-14 1-Jan-15 8-Jan-15 15-Jan-15 22-Jan-15 29-Jan-15 5-Feb-15 12-Feb-15 19-Feb-15 NA 26-Feb-15 5-Mar-15 12-Mar-15 26-Mar-15 9-Apr-15 16-Apr-15 23-Apr-15 7-May-15 6-Aug-15 3-Sep-15

Bid Discount (%) 10.65 10.15 10.70 10.70 10.80 Description 10.80 10.95 4.00 23-APR-2015 10.70 13.05 16-AUG-2016 10.90 15.10 27-APR-2017 10.00 9.85 27-JUL-2017 10.80 9.35 31-AUG-2017 10.30 10.70 30-MAY-2018 10.90 16.00 29-JUN-2019 10.30 7.00 23-OCT-2019 10.90 16.39 27-JAN-2022 10.80 14.20 14-MAR-2024 10.90 15.00 28-NOV-2028 11.00 12.49 22-MAY-2029 10.90 10.90 8.50 20-NOV-2029 10.30 10.00 23-JUL-2030 10.40 12.1493 18-JUL-2034 10.70 10.35

Offer Discount (%) 10.40 9.90 10.45 10.45 10.55Date Issue 10.55 10.70 23-Apr-10 10.45 16-Aug-13 10.65 27-Apr-12 9.75 27-Jul-07 10.55 31-Aug-07 10.05 30-May-08 10.65 29-Jun-12 10.05 23-Oct-09 10.65 27-Jan-12 10.55 14-Mar-14 10.65 28-Nov-08 10.75 22-May-09 10.65 10.65 20-Nov-09 10.05 23-Jul-10 10.15 18-Jul-14 10.45 10.10

Bid Yield (%) 10.69 10.21 10.79 10.81 10.93 (%) Coupon 10.98 11.16 4.00 10.92 13.05 11.15 15.10 10.23 9.85 11.10 9.35 10.59 10.70 11.25 16.00 10.63 7.00 11.30 16.39 11.21 14.20 11.35 15.00 11.51 12.49 11.45 11.48 8.50 10.83 10.00 10.99 12.1493 11.65 11.34

Bonds

TOTAL MARKET CAPITALISATION

NIBOR

Tenor O/N 1M Outstanding Value 3M (N'bn) 6M

Rate (%) 10.4833 12.3369 13.2888Date Maturity 14.2661

535.00 23-Apr-15 563.89 16-Aug-16 452.80 27-Apr-17 NITTY 20.00 27-Jul-17 Tenor Rate (%) 100.00 31-Aug-17 1M 10.7124 300.00 30-May-18 2M 10.9247 351.30 29-Jun-19 3M 11.1043 233.90 23-Oct-19 6M 11.1185 600.00 27-Jan-22 9M 11.2286 371.68 14-Mar-24 12M 11.5037 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 NIFEX 591.57 23-Jul-30 Current Price ($/N) 130.00 18-Jul-34

BID($/N) 4,675.13 OFFER ($/N)

165.4350 165.5350

4,642.49

*for the Amortising bonds, the average life is calculated and not the duration

Tenor

Rate (%)

OBB

10.25

O/N

10.50

REPO Bid Yield (%) TTM (Yrs) Tenor Call 0.48 1M 1.79 3M 2.49 6M

Rate (%) 10.25 11.02 12.35 12.22 13.29 12.46 14.06

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

O/N: Overnight UPDC: UAC Property Development Company WAPCO:West Africa Portland Cement Company

Maturity Date

Avg. Life/TTM (Yrs)

Bid ($/N)

Spot 7D Offer14D Yield (%) 1M 2M 10.68 3M 12.13 6M 12.39 1Y

2.74 12.55 12.48 2.83 12.56 12.49 NOTE: 3.58 12.60 12.49 4.66 12.60 12.52 :Benchmarks 4.98Bond 12.68 12.58 * :Amortising 7.24Bond 12.63 12.57 µ :Convertible 9.37 12.60 12.55 AMCON: Asset Management Corporation of Nigeria 14.08 12.80 12.76 FGN: Federal Government of Nigeria 14.56Mortgage Bank of 12.82 12.78 FMBN: Federal Nigeria IFC: International 15.06 Finance Corporation 12.85 12.79 LCRM: Local Contractors Receivables 15.73 12.72 Management 12.67 NAHCO: Nigerian 19.71 Aviation Handling 12.71Company 12.67

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

Tenor

# Risk Premium (%)

165.55 165.73 165.99 Bid Price 166.64 167.77 96.81 168.95 101.25 172.68 105.50 180.17

Offer ($/N)

Price 165.65 165.96

166.30 Offer Price 167.25 168.84 96.96 170.57 101.40 176.10 105.65 188.17

93.85 94.00 92.52 92.67 94.63 94.93 111.65 111.95 NA :Not Applicable 79.50 79.80 # :Floating Rate Bond 117.45 ***: Deferred coupon bonds117.75 108.60 108.90 114.45 †: Bond 114.15 rating expired 98.11 N/A :Not 97.81 Available 71.35 71.65 81.65 81.95 NGC: Nigeria-German Company 95.90 96.20 UBA: United Bank for Africa

Valuation Yield (%)

Indicative Price

Agency Bonds FMBN ***LCRM

Modified Duration Buckets

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION 3<5 >5

Sub-National Bonds A+/Agusto

KADUNA

A/Agusto A-/Agusto A+/Agusto

*EBONYI *BENUE *IMO

A+/Agusto; A+/GCR A-/Agusto A/Agusto

LAGOS *BAYELSA EDO

A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR†

*DELTA NIGER *EKITI

A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR

*NIGER *ONDO *GOMBE

Market

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 Total Outstanding Porfolio Market Value(Bn) 0.00/16.50 LCRM III 06-JUL-2017 Volume(Bn)

24-May-10 0.00 FMDQ FGN17.25 BOND 03-Apr-12 09-Dec-11 0.00/16.00 20-Apr-12 0.00/16.50 Weighting by Weighting by Mkt Outstanding Vol Value 06-Jul-12 0.00/16.50

24.56 3.00 112.22 116.70 Bucket Weighting 66.49

INDEX

322.97

1,048.63

1,016.68

33.21

33.22

1,096.93

951.30

31.08

34.75

318.59 0.31

1,011.33

1,093.25

35.71

32.04

0.36

3,156.89

3,061.23

100.00

31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09

12.50 13.00 14.00 15.50

8.50 4.18 6.27 7.37

19-Apr-10 30-Jun-10 30-Dec-10

10.00 13.75 14.00

30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12

0.33

1.00

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

0.56 1.30 2.11 2.47 Implied Yield 2.68

2.63 2.27 2.00 1.00 Implied Portfolio Price 1.00

13.67 13.95 14.40 13.53 INDEX 13.55

92.80 103.97 101.18 98.79 YTD Return (%) 96.04

14.62

12.35

119.0733

1,130.95

13.0953

30.15

12.62

133.7950

1,132.93

13.2925

55.23

12.68

103.0878

1,205.28

20.5277

12.61

117.9393

1,126.22

12.6217

100.00

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16

0.83 0.67 0.96 0.96

4.44 3.23 4.46 3.48

15.65 14.34 15.74 14.77

97.58 99.64 98.79 101.21

57.00 29.92 25.00

19-Apr-17 30-Jun-17 31-Dec-17

2.47 1.51 3.17

5.59 1.00 1.79

18.12 12.94 14.37

84.38 101.43 99.04

14.00 14.00 14.50

34.14 9.00 14.96

30-Sep-18 04-Oct-18 09-Dec-18

2.34 3.93 2.34

1.80 1.00 1.00

14.29 13.62 13.48

99.58 101.08 102.17

14.00 15.50 15.50

11.13 27.00 16.23

12-Dec-18 14-Feb-19 02-Oct-19

2.34 2.72 2.98

4.78 1.00 1.00

17.26 13.55 13.57

94.01 102.10 104.58

Daily Summary as of 31/10/2014

Printed 31/10/2014 14:57:01.001

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014 Daily Summary (Bonds)

Daily Summary as of 31/10/2014 Printed 31/10/2014 14:57:01.001

Business | Capital Market

The Nigerian Stock Market Exchange as at October 31, 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

Activity Summary on Board EQTY Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 2 5 2 9

Current Price 0.50 31.35 30.45

Quantity Traded 92,000 64,726 400 157,126

Value Traded 46,000.00 1,928,187.54 11,572.00 1,985,759.54

Symbol LIVESTOCK

No. of Deals 21 21

Current Price 2.98

Quantity Traded 275,370 275,370

Value Traded 803,635.96 803,635.96

432,496

2,789,395.50

Quantity Traded 100,260 91,100 34,792,487 166,712 35,150,559

Value Traded 149,438.23 93,833.00 140,548,899.59 8,679,295.55 149,471,466.37

35,150,559

149,471,466.37

AGRICULTURE Totals CONGLOMERATES Diversified Industries Daily Summary as of 31/10/2014 A.G. LEVENTIS NIGERIA PLC. Printed 31/10/2014 14:57:01.001 JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

30 Symbol AGLEVENT JOHNHOLT TRANSCORP UACN

Daily Summary

No. of Deals 12 3 363 45 423 (Equities)

CONGLOMERATES Totals

423

Activity Summary on Board EQTY Published by The Nigerian Stock ESTATE Exchange © CONSTRUCTION/REAL Building Construction ARBICO PLC. Building Construction Totals

Current Price 1.45 1.03 4.04 53.00

Page

No. of Deals 1 1

Current Price 5.30

Quantity Traded 12,409 12,409

Value Traded 65,767.70 65,767.70

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

Symbol COSTAIN

No. of Deals 12 12

Current Price 0.92

Quantity Traded 990,823 990,823

Value Traded 916,857.16 916,857.16

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

Symbol JBERGER ROADS

No. of Deals 1 2 3

Current Price 67.20 6.29

Quantity Traded 100 1,315 1,415

Value Traded 6,384.00 8,679.00 15,063.00

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

Symbol UAC-PROP

No. of Deals 11 11

Current Price 14.00

Quantity Traded 39,882 39,882

Value Traded 536,121.82 536,121.82

Symbol SKYESHELT

No. of Deals 1 1

Current Price 100.00

Quantity Traded 10 10

Value Traded 1,000.00 1,000.00

1,044,539

1,534,809.68

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts

Daily Summary (Equities)

Activity Summary on Board EQTY HEALTHCARE Pharmaceuticals PHARMA-DEKO PLC. Pharmaceuticals Totals

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

No. of Deals 1

Current Price 0.50

Quantity Traded 25,000

Value Traded 12,500.00

Symbol

No. of Deals 1

Current Price

Page Quantity Traded 25,000

2Value Traded of 13 12,500.00

Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals

Symbol CHAMPION GUINNESS INTBREW NB PREMBREW

No. of Deals 2 62 10 86 1 161

Current Price 14.20 161.50 31.50 162.00 3.98

Quantity Traded 102,000 703,391 106,500 1,339,870 4,100 2,255,861

Value Traded 1,448,400.00 113,607,740.86 3,337,494.83 219,557,285.55 17,097.00 337,968,018.24

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

Symbol 7UP

No. of Deals 58 58

Current Price 165.00

Quantity Traded 2,827,267 2,827,267

Value Traded 466,395,107.92 466,395,107.92

No. of Deals 18 121 24 23 23 2 Daily Summary (Equities) 211

Current Price 6.55 7.00 61.40 3.96 8.10 0.50

Quantity Traded 90,567 1,290,062 194,945 1,030,355 270,435 400 2,876,764

Value Traded 564,232.41 8,777,388.41 11,371,141.85 4,021,344.27 2,197,878.06 200.00 26,932,185.00

Current Price 42.78

Quantity Traded 131,978

Value Traded 5,646,243.84

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC Daily Summary as of 31/10/2014 FLOUR 14:57:01.001 MILLS NIG. PLC. Printed 31/10/2014 HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC U T C NIG. PLC. Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC.

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UTC Symbol CADBURY

No. of Deals 14

Symbol NESTLE

No. of Deals 79 93

Current Price 980.00

Page Quantity Traded 175,669 307,647

Household Durables VITAFOAM NIG PLC. Household Durables Totals

Symbol VITAFOAM

No. of Deals 18 18

Current Price 4.21

Quantity Traded 499,269 499,269

Value Traded 2,117,904.44 2,117,904.44

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

Symbol PZ UNILEVER

No. of Deals 42 14 56

Current Price 23.84 36.10

Quantity Traded 500,993 103,425 604,418

Value Traded 12,027,597.70 3,558,577.50 15,586,175.20

9,396,226

1,023,653,819.90

Current Price 8.50 6.00 19.00 1.95 25.00 2.40 2.36 4.75

Quantity Traded 20,056,087 7,539,546 6,970,944 15,825,348 26,054,708 4,930,798 32,811,370 18,594,774

Value Traded 170,597,001.15 44,797,196.80 130,570,673.30 30,758,466.85 657,992,567.06 12,341,710.11 76,570,770.49 89,461,067.36

No. of Deals 52 6 24 254 1,779

Current Price 7.90 0.50 0.95 21.20

Quantity Traded Page 1,183,717

Insurance Carriers, Brokers and Services Symbol No. of Deals AFRICAN ALLIANCE INSURANCE COMPANY PLC AFRINSURE 1 AIICO INSURANCE PLC. AIICO 47 CONTINENTAL REINSURANCE PLC CONTINSURE 7 CORNERSTONE INSURANCE COMPANY PLC. CORNERST 1 EQUITY ASSURANCE PLC. EQUITYASUR 1 GUINEA INSURANCE PLC. GUINEAINS 1 CONSOLIDATED HALLMARK INSURANCE PLC HMARKINS 1 INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS 5 LASACO ASSURANCE PLC. LASACO 2 Daily Summary as of 31/10/2014 LINKAGE ASSURANCE PLC LINKASSURE 88 Printed 31/10/2014 14:57:01.001 MANSARD INSURANCE PLC MANSARD 11 MUTUAL BENEFITS ASSURANCE PLC. MBENEFIT 3 N.E.M INSURANCE CO (NIG) PLC. NEM 21 NIGER INSURANCE CO. PLC. NIGERINS 1 DailyPRESTIGE Summary (Equities) PRESTIGE ASSURANCE CO. PLC. 10 STANDARD TRUST ASSURANCE PLC STACO 1 PLC. STDINSURE 3 ActivitySTANDARD Summary ALLIANCE on Board INSURANCE EQTY

Current Price 0.50 0.85 0.97 0.50 0.50 0.50 0.50 0.52 0.50 0.50 3.00 0.52 0.75 0.50 0.51 0.50 0.50

Quantity Traded 200 3,194,287 586,980 16,000 28,791 10,000 20,000,000 159,816 34,065 41,069,900 6,282,100 50,400 812,952 50,000 723,647 200 11,200

NESTLE NIGERIA PLC. Food Products--Diversified Totals

CONSUMER GOODS Totals FINANCIAL SERVICES Banking Daily Summary as of 31/10/2014 ACCESS BANK PLC. Printed 31/10/2014 14:57:01.001 DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. Activity Summary Board EQTY UNITED BANKon FOR AFRICA PLC FINANCIAL SERVICES Banking Published by The Nigerian Exchange © UNION BANKStock NIG.PLC.

UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Insurance Carriers, Brokers and Services UNIC INSURANCE PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

598 Symbol No. of Deals ACCESS 117 DIAMONDBNK 94 ETI 105 FIDELITYBK 93 GUARANTY 499 Daily Summary (Equities) SKYEBANK 90 STERLNBANK 167 UBA 278 Symbol UBN UNITYBNK WEMABANK ZENITHBANK

Value Traded 4 of 13 9,459,484.37 147,975.00 2,291,409.84 239,432,809.13 1,464,421,131.46 Value Traded 100.00 2,718,857.45 567,900.60 8,000.00 14,395.50 5,000.00 10,000,000.00 83,104.32 17,032.50 20,534,950.00 18,830,873.00 26,208.00 610,744.00 25,000.00 366,569.97 100.00 5,600.00 5 of 13 Value Traded 9,750.00 100.00 8,986,768.38 62,811,053.72

Current Price 0.94

Quantity Traded 311,508 311,508

Value Traded 288,272.28 288,272.28

No. of Deals 1 4 5

Current Price 1.30 0.50

Quantity Traded 4,500 850,000 854,500

Value Traded 6,075.00 425,000.00 431,075.00

No. of Deals 55 27 478 44 1 21 45 671

Current Price 2.88 3.79 11.58 3.89 0.55 29.60 1.90

Quantity Traded 2,004,756 836,308 21,744,134 2,852,238 116,500 742,686 735,557 29,032,179

Value Traded 5,995,856.35 3,183,869.48 252,621,981.89 11,067,743.78 64,075.00 22,006,650.15 1,396,687.18 296,336,863.83

264,731,521

1,824,288,396.29

No. of Deals 2 1 44 251

Current Price 0.50 0.50 0.66

Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals

Symbol NPFMCRFBK

No. of Deals 7 7

Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC RESORT SAVINGS & LOANS PLC Mortgage Carriers, Brokers and Services Totals

Symbol ABBEYBDS RESORTSAL

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

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

3Value of Traded13 168,995,685.26 174,641,929.10

Page Quantity Traded 19,500 200 13,467,893 86,518,131

Symbol UNIC UNITYKAP WAPIC

FINANCIAL SERVICES Totals

295,950 2,430,027 11,321,934 148,015,203

2,713

Page

No. of Deals 2 48

INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. ASHAKA CEM PLC BERGER PAINTS PLC PLC Published by CAP The Stock Exchange © Daily Summary asNigerian of 31/10/2014 CEMENT CO. OF NORTH.NIG. PLC Printed 31/10/2014 14:57:01.001 DANGOTE CEMENT PLC FIRST ALUMINIUM NIGERIA PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC PREMIER PAINTS PLC. LAFARGE AFRICA PLC. Building Materials Totals

Activity Summary on Board EQTY

INDUSTRIAL GOODS Published by The Nigerian Stock Exchange © Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. GREIF NIGERIA PLC Packaging/Containers Totals

Symbol COURTVILLE

Paper/Forest Products THOMAS WYATT NIG. PLC. Daily Summary as of 31/10/2014 Paper/Forest Products Totals Printed 31/10/2014 14:57:01.001 NATURAL RESOURCES Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

Current Price 0.55

9 Symbol No. of Deals AFRPAINTS 3 ASHAKACEM 37 BERGER 8 CAP 16 CCNN 29 DANGCEM 39 FIRSTALUM 1 PORTPAINT 7 PREMPAINTS 1 Daily Summary (Equities) WAPCO 66 207

Quantity Traded 11,630 269,239 9,904 850,681 215,000 1,473

Value Traded 24,388.70 923,561.72 510,191.60 1,531,771.32 209,550.00 9,795.45

Quantity Traded 49,000 1,406,927

Value Traded 121,520.00 3,330,778.79

1,406,927

3,330,778.79

Quantity Traded 88,193 88,193

Value Traded 46,742.29 46,742.29

88,193

46,742.29

Current Price 2.72 31.34 8.00 41.90 12.84 215.00 0.50 5.23 10.93 109.99

Quantity Traded 1,900 236,637 14,807 95,720Page 545,713 1,297,385 3,000 249,900 500 1,069,384 3,514,946 Page

Value Traded 4,921.00 7,394,245.34 118,313.20 73,939,645.84 of 13 7,079,174.75 278,432,576.97 1,500.00 1,294,972.84 5,195.00 115,794,983.15 414,065,528.09 8

Symbol CUTIX

No. of Deals 7 7

Current Price 1.59

Quantity Traded 76,084 76,084

Symbol BETAGLAS VANLEER

No. of Deals 2 3 5

Current Price 21.00 12.08

Quantity Traded 200 846 1,046

Value Traded 4,002.00 9,712.08 13,714.08

3,592,076

414,200,316.57

219

Value Traded 121,074.40 121,074.40

Symbol ALUMACO

No. of Deals 2 2

Current Price 7.75

Quantity Traded 400 400

Value Traded 2,948.00 2,948.00

Symbol THOMASWY

No. of Deals 1 1

Current Price 0.79

Quantity Traded 200 200

Value Traded 152.00 152.00

600

3,100.00

Quantity Traded 658,630 658,630

Value Traded 329,315.00 329,315.00

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

6 6

Activity Summary on Board EQTY

OIL AND GAS Published by The Nigerian Stock Exchange © Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

Current Price 2.61

No. of Deals 9 9

INDUSTRIAL GOODS Totals NATURAL RESOURCES Metals ALUMINIUM MANUFACTURING COMPANY PLC Metals Totals

Current Price 2.20 3.48 54.00 1.72 0.97 7.00

ICT Totals

Symbol DUNLOP

DNSummary TYRE & RUBBER PLCEQTY Activity on Board

Symbol PHARMDEKO

HEALTHCARE Totals

Symbol ARBICO

Real Estate Investment Trusts (REITs) Daily Summary as of 31/10/2014 SKYE SHELTER FUND PLC Printed 31/10/2014 14:57:01.001 Real Estate Investment Trusts (REITs) Totals

HEALTHCARE Daily Summary as of 31/10/2014 Pharmaceuticals Symbol No. of Deals Printed 31/10/2014 14:57:01.001 EVANS MEDICAL PLC. EVANSMED 2 FIDSON HEALTHCARE PLC FIDSON 10 GLAXO SMITHKLINE CONSUMER NIG. PLC. GLAXOSMITH 9 MAY & BAKER NIGERIA PLC. MAYBAKER 18 Daily Summary (Equities) NEIMETH INTERNATIONAL PHARMACEUTICALS PLC NEIMETH 5 NIGERIA-GERMAN CHEMICALS PLC. NIG-GERMAN 2

0.50

Page Quantity Traded 2,523,155 2,523,155

of 13 Value Traded 54,776,278.48 54,776,278.48

Symbol OANDO

No. of Deals 215 215

Current Price 21.66

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 17 28 62 17 1 16 141

Current Price 49.23 3.50 211.95 170.98 56.00 157.71

Quantity Traded 20,115 762,910 182,684 17,963 400 21,450 1,005,522

Value Traded 894,178.55 2,667,417.97 38,604,030.95 2,991,664.08 21,280.00 3,421,505.47 48,600,077.02

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

Symbol SEPLAT

No. of Deals 10 10

Current Price 544.59

Quantity Traded 3,608 3,608

Value Traded 1,891,979.00 1,891,979.00

4,190,915

105,597,649.50

OIL AND GAS Totals Daily Summary as of 31/10/2014 Printed 31/10/2014 SERVICES 14:57:01.001

Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

372 No. of Deals 1 1

Current Price 0.90

Quantity Traded 20,000 20,000

Value Traded 17,200.00 17,200.00

Symbol REDSTAREX

No. of Deals 7

Current Price 4.00

Quantity Traded 109,400

Value Traded 437,900.00

Symbol TRANSEXPR

No. of Deals 1 8

Current Price 1.29

Page Quantity Traded 1,000 110,400

Hotels/Lodging IKEJA HOTEL PLC TOURIST COMPANY OF NIGERIA PLC. Hotels/Lodging Totals

Symbol IKEJAHOTEL TOURIST

No. of Deals 65 2 67

Current Price 2.70 3.51

Quantity Traded 9,623,485 60 9,623,545

Value Traded 25,983,178.18 200.40 25,983,378.58

Media/Entertainment DAAR COMMUNICATIONS PLC Media/Entertainment Totals

Symbol DAARCOMM

No. of Deals 1 1

Current Price 0.50

Quantity Traded 1,000 1,000

Value Traded 500.00 500.00

Symbol ACADEMY LEARNAFRCA STUDPRESS UPL

No. of Deals 5 5 1 4 15

Current Price 1.32 1.51 2.30 4.15

Quantity Traded 162,489 31,347 960 3,850 198,646

Value Traded 219,021.48 43,085.39 2,102.40 15,265.25 279,474.52

Symbol ABCTRANS

No. of Deals 3 3

Current Price 0.65

Quantity Traded 129,800 129,800

Value Traded 84,570.00 84,570.00

No. of Deals 24

Current Price 5.09

Quantity Traded 645,926

Value Traded 3,223,215.93

Courier/Freight/Delivery RED STAR EXPRESS PLC

Activity Summary on Board EQTY SERVICES Published by The Nigerian Stock Exchange © Courier/Freight/Delivery TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. UNIVERSITY PRESS PLC. Printing/Publishing Daily Summary as of 31/10/2014Totals

Printed 31/10/2014 14:57:01.001 Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals Transport-Related Services NIGERIAN AVIATION HANDLING COMPANY PLC

Activity Summary on Board EQTY

Symbol RTBRISCOE

Daily Summary (Equities)

Daily Summary (Equities) Symbol NAHCO

Page Symbol

No. of Deals 24

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

Current Price

Quantity Traded 645,926

10 of 13 Value Traded 1,290.00 439,190.00

Value Traded 3,223,215.93

119

10,729,317

30,027,529.03

4,562

330,763,369

3,554,944,003.92

Quantity Traded 511 511

Value Traded 853.37 853.37

511

853.37

Activity Summary on Board ASeM SERVICES Food/Drug Retailers and Wholesalers JULI PLC. Food/Drug Retailers and Wholesalers Totals

Symbol JULI

No. of Deals 2 2

SERVICES Totals

Current Price 1.75

ASeM Board Totals

Daily Summary as of 31/10/2014 PrintedEquity 31/10/2014 14:57:01.001 Activity Totals

511

853.37

4,564

330,763,880

3,554,944,857.29

Daily Summary (ETP) Exchange Traded Fund

Name Published by The Nigerian Stock Exchange © NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol NEWGOLD VETGRIF30

No. of Deals 1 2 3

Current Price 1,867.00 16.82

Quantity Traded Page 6 100,000 100,006

Value Traded 12 of 13 11,202.00 1,680,100.00 1,691,302.00

ETF Board Totals

100,006

1,691,302.00

ETP Activity Totals

100,006

1,691,302.00

News

monday, november 3, 2014 NEW TELEGRAPH

south — east

Abia senatorial aspirants reject congress disappearance Nothing works in Abia anymore. All 184 wards could not find the PDP membership register

Igbeaku Orji UMUAHIA

ll three senators of Abia state, Uche Chukwumereije, (North) Nkechi Nwaogu (Central) and Enyinnaya Abaribe (South), have rejected the

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Peoples Democratic Party (PDP), ward congress held across the state on Saturday describing it as a charade. In the same vein, various groups rejected the congress along some of the governorship aspirants, which include: Alex Otti and Acho Nwakanma. Others stakeholders, who also condemned the conduct of the congress are Engr Solomon Ogunji, a former Commissioner in the state, Reverend G Nwandu, Chief Uzoma Abonta, the member rep-

The number of pending asylum seekers from Namibia at the beginning of 2010. Source: Blatantworld.com

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resenting Ukwa East and Ukwa West in the House of Representatives, Hon Emeka Atuma and Hon Nze Esiaga. Presenting their stand titled ‘No congress in Abia’, to journalists in Umuahia yesterday, the spokesman of the group Chukwumereije, said, “Our ward congresses never took place in November 1, until members dispersed after 6pm when nobody came.” He said that from the arrival of Tony Ceaser Okeke, and the National

The sex ratio of women to 100 men (international migrants) in Montenegro in 2010. Source: Un.org

Congress team at 1.20pm to the State Secretariat of the Abia PDP, its meeting with aspirants, delegates and stakeholders was characterized by expressions of fears of the plan to hijack the congresses by the Abia State government executive with the meeting ending at 2.15pm. He said, “There was disappearance of the party membership registers of all the 184 wards in Abia contrary to the guidelines for conduct of congresses. This fact was clearly made known to the Abuja panel

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The average age of Portugal team in Brazil 2014 World Cup. Source: Telegraph.co.uk

during the meeting and the panel gave the assurance that the congresses will follow strictly the party’s guidelines and constitution. “The Tony Ceaser Okeke team’s failure to produce the mandatory election materials for the congresses viz ; Collation materials ; Identity tags for those to go to supervise the elections; no party registers and even nobody deployed to the field. “In the field where people waited, nobody came with any materials.

The life expectancy (in years) at birth of men in Hong Kong, China in 2010-2015. Source: Un.org

The only activity was the Transition Committee Chairmen in every local government moving about with their security and video crew and still photographers taking pictures of the crowds anxiously waiting for the arrival of the electoral officers. “Between 5.30pm and 6pm, the people dispersed to their homes disappointed. Which means that there was no congress held anywhere in Abia, according to the guidelines of the party.” “At about 8pm we noticed surreptitious movements of non-executive members of the party and government officials carrying prepared fictitious result sheets of papers to the members of the Okeke led congress panel in Damgrete hotel, where they were logged on arrival after the meeting with stakeholders and aspirants which as earlier noted ended at 2.15pm.”

Aba youths unite for Azubuike Peter Osondu ABA

Sokoto State Governor, Aliyu Magatakarda Wamakko (right) and Imo State Deputy Governor, Prince Eze Madumere, during Wamakko’s visit to Imo Government House, Owerri…recently.

Umeh advocates law against unemployment Abia APC wants Emenike Tony Okafor AWKA

ational Chairman of All Progressives Grand Alliance (APGA), Chief Victor Umeh, has described youth unemployment as a scourge that should be curbed, calling for a legislation that will end the trend. Umeh, who spoke at Emmaus House, Awka, Anambra state, during a

youth rally said the future of the country would remain bleak if the youth could not be gainfully employed as it shows today. The APGA chief who is aspiring for the Senate, in the Anambra Central Senatorial District in next year’s general elections vouched that if elected a senator, he would initiate laws that would cause government to employ any youth of this country upon gradu-

ation from a tertiary institution within two years or in the alternative provide them with a social welfare in form of unemployment allowance. He noted that if such laws were put in place, the three tiers of government would sit up over employment issues. “ No university graduate in Nigeria will be allowed not to have a job after two years of graduation,” Umeh added.

I have a blueprint for Abia , says Alex Otti Peter Osondu ABA

mmediate past Group Managing Director of Diamond Bank, Dr. Alex Otti, has said he has a blue print that would turn the fortunes of Abia State around in the shortest possible time if elected

governor of the state in 2015. Otti, who is a governorship aspirant on the platform of Peoples’ Democratic Party (PDP), stated this while unveiling his plans for the state in a discourse with major stakeholders. Stating his reasons for declaring his aspiration

to govern Abia state, he said the deplorable state of things in the state was a cause for concern for him to the extent that he had to resign his appointment as the GMD/CEO of a major bank, even when he had over six years left in his employment at the helm of affairs of the bank.

to embrace peace

Johnchuks Onuanyim ABUJA

he Abia State Chairman of the All Progressives Congress (APC), Hon. Jonathan Nwakpa, has urged a chieftain of the party, Chief Ikechi Emenike, to embrace peace in the state. Nwakpa, made the call at the National Headquarters of the party in Abuja, when he led his state executive to oversee obtain the expression of interest and nomination forms for the State’s gubernatorial election in 2015. The chairman, while fielding questions with journalists on the current in-fighting within the party in the state, particularly, the recent free for all fight at the Abia State Pavilion during the

extraordinary convention of the party, called on everybody concerned to embrace peace. He said, “To me it was something that concerns the behavior of an individualperson who has shown highest level of overbearing influence which is constituting a big threat to other people within the party. “There is a saying in Igbo that when one man cooks for the community, the whole community will finish it, but when the community cooks for one man, he cannot finish it. So there is no way a single person would make himself an Island”. Stating that the party in the state had resolved its crisis, he said: “The people who started that fight were not party members.”

wo youth groups have clashed over return of a member of the House of Representatives, representing Aba North/ Aba South Federal Constituency, Hon. Uzo Azubuike. The Aba North Indigenous youth Forum (ANIYF), Abia state has endorsed the second tenure of the Reps member, rising in the defence of the lawmaker over what it alleged as moves by some powerful politicians in the state against his reelection. However, another group, the Aba Youths Initiatives (AYI), which had earlier last week given its nod to the re-election of Azubuike, who hails from Umuna-Nsulu in Isiala Ngwa North Local Government, protested against what it described as moves to frustrate the return of the Reps to the National Assembly, with a vow that no non indigene will be allowed to represent the Constituency . But in a reaction to the protest, ANIYF in a communiqué after an emergency meeting in Aba, endorsed Azubuike for a second tenure but condemned the action of the protesters who they accused of being sponsored by some politicians who want to cause hatred in the constituency.

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

PLOT Rivers PDP chairman claims the party outsmarted APC Emmanuel Masha Port Harcourt

hairman of the Rivers State chapter of the Peoples Democratic Party (PDP), Mr. Felix Obuah, has described the 16 governorship aspirants who called for the postponement of Saturday’s ward congresses in the state as agents of the All Progressives Congress (APC). It will be recalled that

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PDP labels 16 aggrieved aspirants Amechi’s agents 16 aspirants had stayed away from the congresses, while alleging that the outcome had been predetermined to favour the immediate past Minister of State for Education, Mr. Nyesom Wike. But Obuah said the 16 aspirants were working for “their pay master and Rivers State Governor, Rotimi Amaechi,” noting that despite calls for postponement, the ward congresses in the state’s 319 wards were conducted peacefully

and successfully. Obuah, who voted in Ward 4 of Ogba/Egbema/Ndoni Local Government, commended party members for turning out in their numbers to vote delegates during the ward congresses, assuring them that the PDP would win all elections in the state. But, one of the 16 PDP aspirants, Prince Tonye Princewill, has described the non-participation of the key aspirants in the congress as a sign of se-

rious crisis in the party. Princewill, who stated this in a statement, said there was need for the party to put its house in order so as to deliver President Goodluck Jonathan in 2015. He said: “The Rivers State Wike-led PDP executives don’t realise that we are several steps ahead of them; none of the key aspirants was involved in the congress. That should be a signal for the party. Our silence will speak louder than

our words. “In the end, PDP will either sit up or address this sham or they will lose us and lose Rivers State. Nothing is impossible. “Our people say the difference between a small snake and a big worm is teeth. Neither Amaechi nor Wike will deliver Rivers State because even the grass will reject them. It’s time to start afresh. It’s time for renewal. And all of their money and more will never change that,” Princewill added.

L-R: Hon. Willy Oyadougha; Bayelsa State Governor, Seriake Dickson; Chief Clifford Apina and Dibiya Egberibuloemi, at the PDP Ward Congress, Angalabiri in Sagbama Local Government…at the weekend

Aspirants reject consensus bargain in Delta Dominic Adewole ASABA

s the race to succeed the Delta State Governor, Dr. Emmanuel Uduaghan, intensifies, a governorship hopeful in the state, Prof. Sylvester Monye, yesterday kicked against the idea of consensus candidates in the 2015 elections. Prior to this, a Lagosbased business mogul, Chief Peter Okocha, who is also in the race, had rejected the idea. Okocha said any attempt to infringe on his

right of contesting next year’s election would be contested in court. Already, more than 20 aspirants contesting on the platform of the Peoples Democratic Party (PDP) have indicated interest, out of which 10 have collected nomination forms. Monye, who resigned last month as President Goodluck Jonathan’s aide on Projects Monitoring, said he joined the race, because he had been prepared by three presidents in the country for the seat.

Between 2005 and 2011, he served as the Executive Secretary of the National Planning Commission (NPC) and the National Economic Council and as Director, International Economic Relations, Federal Ministry of Finance. He was on the board of the Federal Inland Revenue (FIRS), Governing Council, Nigerian Investment Promotion Commission (NIPC), National Hospital, Abuja, Alternate Governor for Nigeria, OPEC Fund for International Development, Vi-

enna, Austria and Board Director, Bank of Industry (BoI), among others. Speaking in OnichaUgbo, Aniocha North Local Government yesterday, the aspirant said: “I push myself forward because I am patriotic, tested and trusted while I served for 14 years under three successive presidents. “I consulted for 18 months before declaring for the race. I did not enter the race because of consensus. I am working on my own. I am not going to enter into consensus bargain,” he said.

Akpabio, others commend conduct of ward congress

kwa Ibom State Governor, Godswill Akpabio and the Chairman of the Peoples Democratic Party (PDP) in the state, Chief Paul Ekpo, yesterday described the ward congress of the party in the state as peaceful, orderly and a demonstration by the people to ensure that de-

mocracy survives. Both spoke at different venues of the exercise at the weekend. Speaking to newsmen shortly after participating in the congress, Akpabio said: “I commend our party members for this demonstration of peace and orderliness. It is a confirmation of the

party’s readiness to ensure that internal democracy is entrenched in our party.” In his reaction, Ekpo said: “The peaceful and orderly conduct of party members before, during and after the congress is a demonstration that the party is one united entity. “Contrary to what had

been peddled in the media in the last few weeks that the party was not one, the report I have received from chapter chairmen across the state is really encouraging and we are happy about that, because our members turned out en masse to partake in the exercise, devoid of any rancour.”

APC gains 6,000 members in Edo Cajetan Mmuta BENIN

he ruling All Progressives Congress (APC) in Edo State at the weekend received more than 6,000 members of the Peoples Democratic Party (PDP) into its fold. Among the defectors are an aide of the former Majority Leader of the House of Representatives, Col. Tunde Akogun (rtd) and Frank Awe and many others, who declared their resolve to work for the progress and success of the ruling party and Governor Adams Oshiomhole’s government in the state. Senator Domingo Obende, representing Edo North senatorial district in the National Assembly, told the mammoth crowd that had gathered in Igarra, headquarters of Akoko-Edo Local Government that with the defection of the Speaker of the House of Representatives, Aminu Tambuwal, to the APC and the inability of the PDP to garner two-third members for a change in leadership in the House, the APC lawmakers have taken full control of the House. Members of the APC also blasted the police and the Federal Government for the withdrawal of Tambuwal’s police detail. Obende said that; “The position of the Speaker of the House of Representatives is not a position of a political party, but a position given to someone in the chambers to lead the others, they are equal, but one has to be given the power to lead.”

In Cross River, everyone is happy Clement James Calabar

ross River State Chairman of the Peoples Democratic Party (PDP), Ntufam John Okon, has claimed that the ward congresses held across the 196 wards in the state at the weekend were peaceful, free and fair. Okon made the clarification yesterday while speaking to our correspondent on phone. He said the party had long prepared for the congress and everything was put in place to ensure its success. The chairman, however, denied that the party was biased, explaining that those who had no grassroots base were the once making what he called ‘unfounded allegations.’ He said: “The congresses have been held across the wards and we are expecting the returning officers to bring back

the results. So far, reports from the field show that the process has been peaceful, fair and transparent and everybody is happy,” he said. On the protest by the senate leader that the delegates’ list had been lopsided against him, Okon said: “The Senate Leader had made up his mind to protest. When he came to the party secretariat to collect his form, he made some statements and wanted us to postpone the congress. He knew he was not going to succeed, so he had made up his mind to protest before now. We knew this all along, but nobody can fault our process. Meanwhile, an aspirant contesting against the senate leader, Hon. Owan Enoh, yesterday commended the process adopted by the party during the ward congress, even as the senate leader kicked against the process.

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Boko Haram: ACF condemns politicians ELECTIONS Ahead of 2015, politics has taken over their minds even as Boko Haram spills more blood

socio-political group in northern Nigeria, the Arewa Consul-

tative Forum (ACF) has accused leading politicians in the country of being insensitive to the plight of victims of the insurgency that has ravaged the North-East part of the country. The group said in a statement yesterday that it was concerned that rather than working together to resolve the Boko Haram issue that has

claimed over 13,000 lives and displaced hundreds of thousands of people, politicians in the country are more interested in their 2015 ambitions. “It’s an irony that while Nigerians in the North-East are being killed by insurgents and Nigerian territories being seized,” the ACF said “our politicians are busy collecting party declara-

tion forms to contest the 2015 elections instead of collaborating to contain the insurgency.” In yesterday’s statement signed by its spokesperson, Muhammad Ibrahim, the ACF also questioned the ceasefire announced by the Jonathan administration. The group said the bomb explosion in Gombe last Friday that killed

about 30 people, as well as the continuous attacks in Borno and Adamawa States by the insurgents bring to question the ceasefire the Federal Government announced it had with the insurgents. “It is really disturbing and worrisome that despite the assurances given by government that appropriate security measures are being

put in place to contain the insurgency, including the ceasefire agreement, the situation in the North-East region is deteriorating.” “Towns like Bama, Gwoza and many others are still under the control of the insurgents despite the emergency rule in Borno, Yobe and Adamawa States,” the group said.

PDP congress marred in Plateau Buhari Bello Jos

he ward congress of the ruling Peoples Democratic Party (PDP) in Plateau State at the weekend ended up with more disaffection and crisis, which is now threatening the party. There were also allegations of the imposition of governorship candidates. Consequently, the acting state Chairman of the party, Raymond Dabo, has announced the cancellation of the congress in Pankshin Local Government due to widespread crisis that nearly marred the exercise. He, however, said despite the condemnation that trailed the congress, the party leadership still adjudged the exercise the best so far. Investigation by New Telegraph showed that the alleged insistence of some government officials, supported by party executives, in putting preferred delegates on the list resulted in more crises in the wards where the congresses were held. A Source at the party secretariat in Jos said: “The congresses in all the wards, where delegates were expected to come to the local governments, state and national levels was characterised by irregularities of the highest order.”

L-R: Kwara State Governor, Dr. Abdulfatah Ahmed; members, Judicial Service Commission (JSC), Hon. Justice Idrees Haroon and Alhaji Sambo Yamman Haliru, during the inauguration of the commission in Ilorin....at the weekend

Adamawa guber: Group protests PDP’s exclusion of Ngilari Philip Nyam Abuja

coalition of communities and youth groups under the auspices of The Adamawa Collective (TAC) has kicked against the position of the National Working Committee (NWC) of the Peoples Democratic Party (PDP) over what it

Lar: My vision for Plateau Buhari Bello Jos

lateau State gubernatorial hopeful on the platform of the Peoples Democratic Party (PDP), Senator Victor Lar, has said that his desire to govern the state was to revolutionise the tourism sector and prevent it from eventual collapse. Lar stated this during an interview with New Telegraph in Jos, where he emphasised the need to restore the lost glory of the state in the area of tourism and education. “I came into the race to move Plateau State forward through a five-point agenda

that would better the tourism, education, agriculture and mining sectors as well as the health sector. “We will encourage religious tourism, where people of different faith will be at peace with one another and Plateau will serve as a regional centre for other states to emulate.” He also promised to address the segregated pattern of settlement in the metropolis and ensure that both Muslims as well as Christians live in harmony as was the case in the past. Lar further canvassed for the total overhauling of the civil service to make it more productive and resultoriented.

described as ‘tilted and unacceptable zoning’ of the Adamawa governorship ticket to the central senatorial district. TAC, which made its position on the arrangement known at a press conference in Abuja yesterday, said the PDP NWC’s position was not only unjust, but smacks of double standard in the policy drive of the party. TAC National Coordina-

tor, Mr. Eli Gamaniel and Secretary, Dr. Panny Boga, said it is absurd to compel someone that was not part of a meeting to accept a decision that is not known to law, but taken as a form of exigency to solve a particular situation that has now been overtaken by events. Gamaniel said: “It is important to state in very clear and unmistaken terms that when the decision was taken to zone

the governorship to Adamawa Central senatorial district, Governor Bala James Ngilari was not in office, neither was he part of the meeting. “The doctrine of necessity that brought President Goodluck Jonathan to office during the illness and later, death of late President Umar Yar’Adua, remains a good reference point for the PDP. “It was in that same

spirit of the doctrine of necessity that the late Governor Patrick Yakowa, continued in office and contested in 2011 and won. Speaking in the same vein, Boga said the new twist in the PDP is being orchestrated by the National Chairman of the party, Alhaji Adamu Muázu and the Principal Private Secretary to the President, Alhaji Hassan Tukur.

Aliyu decries non-payment of teachers’ salaries Dan Atori MINNA

iger State Governor and Chairman, Northern States Governors’ Forum (NSGF), Dr. Mu’azu Babangida Aliyu, has described as unfortunate the

backlog of salaries being owed teachers at the primary school level, calling on affected states to save education in the country from total collapse. Aliyu, who made the call in Minna at the weekend, when he declared

open the 18th edition of the Nigeria Colleges of Education Games, being hosted by Niger State College of Education, said it is morally, physically and socially wrong for government at any level to withhold the salaries of

teachers or any workers, who have done their jobs. He said this happens, especially in some states of the north, therefore calling on the affected states to ensure prompt payment of salaries and allowances of teachers.

Wada freezes local governments’ accounts Muhammad Bashir Lokoja

orried by alleged financial recklessness of council chairmen in Kogi State, Governor Idris Wada has ordered the immediate freezing

of local government accounts in the state. The governor as part of efforts to improve on the welfare of the people at the grassroots, also set up an audit panel to investigate the financial activities of the 21 local

government areas in the state. Governor Wada, who disclosed this at the weekend in Lokoja at a meeting with council chairmen, said the audit exercise will be performed by more than one

firm, noting that it will be accomplished within three weeks. He further hinted that his administration will leave no stone unturned in sanitising the local government system in the state.

NEW TELEGRAPH monday, november 3, 2014

I won’t step down, says Nda Isaiah Tony Okafor Awka

head of his declaration for presidential ticket on the platform of the All Progressives Congress, APC, the publisher of Leadership newspapers, Mr. Sam Nda Isaiah,yesterday insisted that he was in the race to win. In a statement by the Director of Publicity, Sam Nda-Isaiah Cam-

paign Organisation, Mr. Igboeli Arinze, he urged well meaning Nigerians and members of the APC to disregard the claims that Nda Isaiah would step down for anybody. He said that no amount of intimidation and falsehood spun now or in the future would make him succumb to the wishes of those who he claimed saw him as a threat. He said those spreading the information that he was no longer in the race were only jittery

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over what he claimed was his acceptable choice by the APC delegates and Nigerians. Nda Isaiah, who also said he had no working arrangement with any candidate, added: “Contrary to speculations in certain quarters, I wish to state that I have never held meetings with any individual or group where it was agreed that I would team up or step down for a particular candidate. “I decided to throw my hat into this ring

well ahead of others, in 2012 and I have come this far; I have reached a far and wide audience, met with stakeholders, travelled around the country understanding our problems and have put down a policy document that will actualize my vision for Nigeria, if you look at my candidature, you will see that I am the most acceptable of the aspirants on the platform of the APC. Why then and for what reasons will it be justified to step down?”

Labour carpets FG over withdrawal of Tambuwal’s security aides Yekeen Nurudeen Abuja

eadership of the Nigeria Labour Congress(NLC)has condemned the withdrawal of security details of the Speaker of the House of Representatives, Aminu Tambuwal, ostensibly on his defection to the opposition party, the All Progressives Congress (APC). The NLC’s General Secretary, Dr. Peter Ozo-Eson, in a statement issued in Abuja yesterday, described the government’s action as a shameful act, distasteful,

unconstitutional and a demonstration parochial sense of power and very little knowledge of history. He said no part of the constitution of the Federal Republic of Nigeria says the Speaker of the House of Representatives should come from the majority party. Quoting from the 1999 Constitution, the NLC Scribe said Section 50(1)(b) only says, “ There shall be ...a Speaker and a Deputy Speaker of the House of Representatives, who shall be elected by the members of that House from among themselves...”

‘CBN not selling application forms for loan’ Abdulwahab Isa

he Central Bank of Nigeria (CBN) has denied selling application forms as pre-condition for members of the public willing to access the bank’s N220 billion Micro, Small and Medium Enterprises (MSMEs) Development Fund. In a statement, the banking watchdog said that the form is obtained free with no payment. The apex bank therefore, warn the public to

L-R: Company Secretary, Sovereign Trust Insurance Plc, Mrs. Yetunde Martins; Chairman, Dr. Ephraim Faloughi and Managing Director/ CEO, Mr. Wale Onaolapo, during the company’s 19th Annual General Meeting in Lagos …at the weekend. PHOTO: GODWIN IREKHE

Abacha’s son promises to Be wary of fake INEC officials, Fashola warns residents recover Kano for PDP Onyekachi Eze ABUJA

ohammed Abacha, son of the former Head of State, General Sani Abacha has promised to recover Kano State, which is now under All Progressives Congress (APC) for the Peoples Democratic Party (PDP). Abacha, who has already purchased the PDP governorship forms, said

Kano State was strategically located to be controlled by the opposition. The aspirant, who recently defected to PDP, expressed optimism that if given the ticket, PDP would win Kano State and promised to work with like minds to unseat the opposition. Abacha, who was candidate of the defunct Congress for Progressive Change (CPC) in Kano State in 2011, denied that he lost the election.

States may sue FG over revenue, says Ahmed Biodun Oyeleye Ilorin

wara State Governor, Alhaji Abdulfatah Ahmed has hinted that the recent reduction in the allocation to states and local government councils by the Federal Government may be subjected to examination by the judiciary. Ahmed, who gave the hint during the swearingin of members of the reconstituted Kwara State

Judicial Service Commission, also insisted that despite the uproar within the Peoples Democratic Party (PDP), it was the business of the judiciary and not that of any order organ of government to interpret laws and legal implication of political actions such as the defection of Speaker of the House of Representatives, Alhaji Aminu Tambuwal’s defection to the All Progressives Congress (APC)

Muritala Ayinla

agos State Governor, Mr Babatunde Fashola, yesterday warned residents to be wary of individuals who pretend as Independent National Electoral Commission (INEC) officials to fraudulently demand for their Temporary Voter’ s Card with a promise to replace them with Permanent

Voter’s Card, PVC. The governor’s advice came on the heels of a suspected fake official of the Independent National Electoral Commission (INEC), who was arrested on Friday for allegedly attempting to mop up INEC’s temporary voter’s cards from residents of Agbado Oke-Odo area of the state.

Why I don’t subscribe to capital punishment, by Uduaghan Joe Obende

Warri

overnor Emmanuel Uduaghan of Delta State, has advanced reasons why his administration has refrained from signing death warrants on condemned criminals. The governor said his belief in the sanctity of life has been the reason why he has not appended his signature to death warrants even though he expressed confidence in the nation’s judiciary to deliver fair judgment.

Uduaghan, spoke weekend through his Commissioner for Agriculture, Hon. Missan Ukubeyinje, at the reception in Warri in honour of Civil Rights Campaigner, Dr. Jeo Okei-Odumakin and inaugural lecture of LITE-Africa Leadership Institute. While extolling what he called the sterling qualities of Okei-Odumakin, the governor said without the agitations of people like her who stood against military dictatorship and other civil rights abuses, he wouldn’t have become a governor.

beware of fraudsters and dishonest elements going about to extort between N2,000 and N40,000 from their victims by asking them to pay the said sums for forms as a pre-condition and/or guarantee for securing loans from the Fund. The statement said that the fraudsters are also asking would-be borrowers to contribute into a dedicated account certain sums as percentages of the loan they intend to access.

Akpan for burial tomorrow

ioneer Editor-in-Chief of Realnews, an online investigative and general interest weekly magazine published in Lagos, Nigeria, Mr. Mike Akpan, who died recently, will be buried on Tuesday, November 4, in his hometown in Abak, Akwa Ibom State. Akpan, who is also a fellow of the Nigeria Guild of Editors, NGE, was on admission in Uyo Teaching Hospital in Akwa Ibom State, for a few days before he died on September 30. A text message on the funeral arrangement sent to Realnews magazine by Mfom Mike Akpan, the first son of the deceased, stated that there will be a Vigil Mass at St’ John Pro-cathedral Abak, today. Also, a Requiem Mass for the deceased will hold at the St’ John Pro-cathedral, Abak Parish by 10am prompt. He will be interred immediately after the mass

The late Akpan

service at his compound in Edem Anwa, Afaha ObongAbak. Akpan worked for more than 40 years as a journalist and brought his years of experience to pen a book entitled: Godswill Akpabio: Champion of Free Education in Akwa Ibom State and edited Issues in Security Awareness written by Ebongakasi EkpeJuda. He joined the Newswatch team in 1990 as an assistant editor and moved up the ranks to become editor of the magazine in 1997.

BBOG begins new campaign Yekeen Nurudeen Abuja

ollowing the failure of Federal Government to secure the release of 219 abducted Chibok Secondary Schools from the den of Boko Haram as promised last week,

the BringBackOurGirls advocacy group has started a hands on head campaign. According to the leader of the group, Dr. Oby Ezekwesili, the hands on head campaign would be staged at the Unity Foutain to lament the state of the nation.

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Thousands protest Burkina Faso army’s power grab

housands gathered yesterday in the center of Burkina Faso’s capital to denounce what they called a military coup, two days after mass protests forced President Blaise Compaore to resign. Compaore’s 27 years in charge of the landlocked West African country ended on Friday when his bid

to change the constitution to extend his rule was thwarted. A power struggle ensued and Saturday, Presidential Guard commander Lieutenant Colonel Isaac Zida was appointed as transitional leader, superseding an earlier claim by the army chief of staff. In Ouagadougou’s Place de La Nation yesterday, opposition

leaders denounced the power grab to the assembled crowds, while a U.N. official warned of possible sanctions if Zida obstructed a return to civilian rule. The central square was the site of the violent demonstrations against Compaore, in which three people were killed and the parliament set ablaze. Yesterday those gathered there

turned their anger against Zida, a large bespectacled man little known outside military circles whose trademark is a red beret. “They are coming from Kossyam to enslave us,” said protestor Sanou Eric, in a reference to the Presidential Palace. “This is a coup d’etat. Zida has come out of nowhere.” “I am here to stop the army from stealing our victory,” said another protestor, Boubacar Sow. The head of the United Nations Office for West Africa joined the United States and the African Union in rejecting the army’s seizure of power but expressed cautious optimism about a return to civilian rule. “We are hoping for a transition

led by civilians in line with the constitution,” Mohammed Ibn Chambas said. “He (Zida) said he will reflect and try to work with the U.N., African Union and the Economic Community of West African States and to find an acceptable agreement which conforms to the constitution,” he said, adding that sanctions were a possibility if there was no progress. Under Burkina Faso’s constitution, the head of the National Assembly should take office if the president resigns, with a mandate to organize elections within 90 days. However the army has dissolved the legislature and suspended the constitution.

US asks UN to blacklist ex-Yemen president, rebel leaders

T Opposition supporters, one holding up a sign that reads in French No to the confiscation of our victory Long live the people.

Pro-Russian rebels vote for leaders in eastern Ukraine

ro-Russian rebels voted in an election to set up a separatist leadership in eastern Ukraine yesterday, taking the war-torn region closer to Russia and defying Kiev and the West, as shelling continued across the territory. The United States and European Union have denounced the vote as illegitimate, which is sure to stoke tensions further between the West and Russia. The separatists’ election of a leader and People’s Council is the latest twist in a face-off between Russia and the West that started with Ukraine’s ouster of a Moscowbacked president in February and the installation of a proEuropean leadership. In Donetsk, eastern Ukraine’s former industrial capital and the separatists’ political and military stronghold, Soviet music blared out of speakers in front of a central voting station carrying the separatist’s red black and blue flag. Across the region suf-

fering from years of neglect and months of war between Ukrainian forces and pro-Russian rebels, people stood in freezing temperatures to cast their vote in some places near the remains of shrapnel from mortar bombings. “We are citizens of Donetsk, and we don’t want to live under the Kiev government that has turned its back on us,” said Sergei Kovalenko, 58, a private security guard who came to vote with his wife at a polling station set up at an elementary school. People brought truck loads of carrots, potatoes and cabbages to polling stations where they were sold off for pennies to those waiting in line. Some of the heaviest artillery shelling of the past few weeks could be heard in the predominantly Russian-speaking area hours before voting was to begin. Rebels said more artillery was heard in a northern district of Donetsk during the vote. Ukraine’s military said three of its soldiers had

been killed in the past 24 hours, two of them by an explosion at a check point near the city of Mariupol, which is under Ukrainian control. Kiev says the vote in its Donetsk and Luhansk regions violates a series of agreements known as the Minsk protocol that underpins a Sept. 5 ceasefire between the rebels and Kiev. Although sporadically broken, the truce has allowed a semblance of normality to return to Donetsk following violence that has killed more than 4,000 people in the region. Kiev says the agreements, signed by rebel leaders and envoys from Kiev, Russia and the Organization for Security and Cooperation in Europe (OSCE), arrange for elections held under Ukrainian law that would appoint purely local officials. But the rebels’ plan to elect leaders and institutions in a breakaway territory in the regions of Donetsk and neighboring Luhansk violates that agreement, Kiev says.

Violent protest after eight more killed in DR Congo

undreds of people took to the streets of the eastern Democratic Republic of Congo city of Beni yesterday after another eight people were killed overnight in new violence. “Things are bad in Beni, there is the crackling of gunfire because the police are trying to disperse the demonstrators,” youth leader Chirac Katalya told AFP, adding that the death toll from the latest killings could rise. The reported killings in the city added to more than 110 deaths counted in the region since last month. Ugandan Muslim rebels using machetes and clubs were blamed for the bloodshed. Katalya said police

fired into the air to disperse the demonstrators, adding: “The people want to destroy the city hall at whatever cost.” The demonstrators were dispersed outside the city hall, but the police and soldiers were chasing them down back alleys as they tried to regroup, Katalya said, adding that gunfire was continuing. The protesters partially destroyed a roundabout where there is a statue of President Joseph Kabila, who visited the city Friday, speaking of the killings for the first time. Kabila pledged to “vanquish” the Allied Democratic Forces and National Army for the Liberation of Uganda (ADF-

NALU) and asked the UN peacekeeping force MONUSCO to step up its presence in the region. He also vowed to reorganise the leadership of the military campaign against the rebels. Beni Mayor Bwanakawa Nyonyi lamented the violence, saying “there was nothing peaceful”. “We condemn this behaviour,” he told AFP, suggesting that a “black hand” was behind the unrest, without elaborating. Teddy Kataliko, head of the Beni region civil society, told AFP that “the carnage” happened in the city’s eastern BelAir district overnight. “Eight people were killed, two soldiers and six civilians,” he said.

he United States has asked for targeted U.N. sanctions to be imposed on Yemen’s former president Ali Abdullah Saleh and two Houthi rebel leaders for threatening the peace and stability of Yemen and obstructing the political process. Washington submitted a formal request on Friday for the United Nations Security Council Yemen sanctions committee to subject the men to a global travel ban and asset freeze. The committee is due to discuss the request on Tuesday, diplomats said. Yemen, a U.S. ally with a population of 25 million neighboring oil-producing giant Saudi Arabia, is trying to end political unrest that began with mass protests against Saleh, president for 33 years until he stepped down in 2012. “As of fall 2012 Ali Abdullah Saleh had reportedly become one of the primary supporters of the Huthi rebellion. Saleh was behind the attempts to cause chaos throughout Yemen,” the United States said in its ‘statement of case’ obtained by Reuters. “More recently, as of September 2014, Saleh is reportedly inciting instability in Yemen by using the Huthi dissident group to not

only delegitimize the central government, but also create enough instability to stage a coup,” it said. The United States has also requested that two Houthi rebel leader be blacklisted -- Houthi leader Abd al-Khaliq al-Huthi and the group’s second-in-command Abdullah Yahya al Hakim. Fighting has flared in different parts of Yemen since the Houthis, a group of Shi’ite Muslim rebels, rose to dominance in recent months, threatening the fragile stability of a country bordering on Saudi Arabia, the world’s biggest oil exporter. Houthi forces took over the capital, Sanaa, in September and fanned out into central and western Yemen. That antagonized Sunni tribesmen and al Qaeda militants, who regard the Houthis as heretics. “In late September 2014, an unknown number of unidentified Huthi movement fighters allegedly were prepared to attack the U.S. Embassy in Sana’a, Yemen, upon receiving orders from Huthi military commander of Sana’a, Abd al-Khaliq al-Huthi,” said the United States in its ‘statement of case’.

China declares holiday as part of law campaign

hina’s legislature designated Dec. 4 as Constitution Day yesterday amid a drive to strengthen the authority of the country’s legal system. The move by the National People’s Congress’ Standing Committee aims to increase awareness of the constitution, promote its spirit, and strengthen its implementation, the official Xinhua News Agency reported. The holiday will be marked by activities to promote the constitution around the country, Xinhua said. China has enacted a total of four constitutions since the founding of the communist state in 1949, with the current version adopted in 1982. The new holiday is part of President Xi Jinping’s “rule of law” campaign seen as an attempt to institutionalize the powers of the

ruling Communist Party while reducing corruption and improving government efficiency. Critics have pointed to numerous contradictions inherent in the campaign, primarily the party’s firm rejection of calls for independent supervision under the constitution, whose first article forbids any challenge to the country’s socialist system. The spirit of the constitution includes acknowledging “the leadership of the Communist Party of China,” Xinhua quoted NPC Standing Committee member Xu Xianming as saying. China’s constitution also enshrines the concept of freedom of speech and other basic rights that are nonetheless severely restricted by Chinese law, party regulations and the arbitrary preferences of the authorities and security forces.

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Sports News

International Sport

Aguero wins Manchester derby for City

Moses, Echiejile, Oboabona hit targets

Expect war in Congo, Le Roy warns Eagles

Sports News

Sport T

That Modupe Oshikoya was the first Nigerian woman to win a gold medal at the Commonwealth Games after winning the women’s long jump event of the 1974 Games in Christchurch, New Zealand

Opinion: Keshi’s return, a bad omen

Adekunle Salami he Nigerian football scene is fast becoming another theatre industry that could rival Nollywood. Since the 2014 World Cup in Brazil, so many dramatic scenes have been recorded such that if put together, an award-winning movie could be packaged. A coach that was asked to step down due to poor performance, bad selection and ‘other happenings’ in the camp was again asked to re-

Did you know?

turn just exactly two weeks after. Stephen Keshi did well to raise a team that won the 2013 Nations Cup but he destroyed the team with sentiments, arrogance and greed. In four games, Keshi won only one, drew one and lost two. Four points out of possible 12 place the Eagles on a tight rope and the Nigeria Football Federation took the right decision by asking the coach to take a walk on Oc-

tober 16. Only last Thursday (October 30), reports came in from Abuja that Keshi was back. It was learnt that his return was a directive from President Goodluck Jonathan. Another version has it that embattled club owner, Chris Giwa, insisted that Keshi should return as part of his conditions for the out of court settlement. Shaibu Amodu, who was

named as interim coach after Keshi was asked to leave was not even considered in the unfolding drama. He was already working towards rebuilding the team and bringing the players together but rather, a script came out that it was Amodu who sent an appeal to the NFF asking for Keshi’s return. The best Nollywood producer will even envy the NFF at this point. It is so sad that the Presi-

dent will involve himself in technical matters he knows nothing about. Those who are also standing up for Keshi in the corridors of power should find out what has been happening in the Eagles camp in the past one year or more. Agents from various places determine the players to be called to camp. One of Keshi’s assistants is said to be selling wristwatches worth 5,000 pounds to the players and it is a must buy item. There are other allegations of corrupCONTINUED ON PAGE 51

2015 Afcon:

Eagles have strong mentality – Echiejile Ajibade Olusesan

uper Eagles defender, Elderson Echiejile, has said that the team has a strong mentality good enough to win Nigeria’s last two matches in the African Nations Cup qualifiers. Echiejile appears to have regained his form and confidence after scoring Monaco’s only goal in their 1-1 draw with Reims at the weekend. He has been impressive in recent time, playing regularly for the Municipal club. He said that he was hopeful that his newfound form would help him contribute hugely

Echiejile (left) in action against South Africa

F 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

He said that the Congo match would be tough for the Eagles, challenging his teammates and all stakeholders to be ready for all kinds of tricks from their opponents. “We want to qualify for the Nations Cup and the Congolese too know they have a chance to make it and that makes the whole thing very interesting. We must be ready for serious business when we travel there but I have confidence in the team and the technical crew; we have the mentality to survive this kind of situation. It was like this at the Nations Cup but we scaled through because of the kind of mentality that we have,” he said.

Keshi’s recall, huge gamble, says ex-international Ifeanyi Ibeh

to the success of the national team against Congo and South Africa. The defender said that his goal came at the right time, insisting that it has boosted his confidence level and the national team would benefit as a result. ‘“I am happy to score my first goal this season even though we did not win the match. It is good to score a goal like this because it will further boost my confidence. I want to continue getting more playing time because I really need it, but like I always say, the coach knows the best, and in whichever capacity I can help Monaco, I will do my best,” he said.

ormer Nigeria international, Stephen Abarowei, has refused to join the army of those applauding the recent recall of Stephen Keshi to the Super Eagles’ managerial position, insisting the decision could have a damaging effect on the team’s chances of making it to next year’s Africa Cup of Nations. “It is no longer news that Keshi is back as possibly part of the conditions for us to have peace in the NFF and not to be banned by FIFA but

I just hope that this gamble pays off,” said Abarowei. “I have never liked the idea of replacing a coach midway through a qualifying campaign even though it works out well sometimes, but it is always a gamble when such happens and an even bigger gamble, a huge gamble, when you decide to bring him back weeks after telling him to pack his bags and leave. “The day he was told it was over was the day Keshi forgot everything about the Super Eagles, and with just over a week to the next match, we have decided to recall him.

Not just that, he has within 24 hours released a list of players for the upcoming matches. And I find all of these very funny as I don’t think he had much input in that list. The 25-man list purportedly released by Keshi included the name of Ikechukwu Uche, a player Keshi had time and again vowed never to recall to the national team so long as he remained in charge, despite the general public’s clamour for the Villarreal of Spain forward. “The ‘Big Boss’ I knew back then would never go back on his word. His yes is

yes, and his no is no,” continued Abarowei. “And that is why I think he didn’t have much input in that list and why I think it is all a huge gamble. “So, except he and the NFF had known all along that he was going to remain in charge and only pretended to be sacked and looking for another job in Ethiopia and Ghana in order to catch the Congolese with their pants down, I think this is a very huge gamble that if it doesn’t work out will only lead to disaster,” added the former Nigeria forward.

SPORT

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Expect war in Congo, Le Roy warns Eagles C ongo Coach, Claude Le Roy, is confident that his team will not lose to Nigeria when they host the Super Eagles in an Africa Cup of Nations qualifier on November 15. The Red Devils coach told Radio France International that Congo will beat Nigeria and qualify for the 2015 Africa Cup of Nations in Morocco. “I’m sure that we shall qualify for next year’s Nations Cup because we are not going to lose at home

Onazi (right) against Congo

Judo boss vows to popularise sport Ajibade Olusesan

he President of the Nigeria Judo Federation Musa Oshodi has said that his board will make the sport attractive to sponsors by regularly organising competitions. Oshodi, who was elected the new helmsman of the sport following the sack of Timothy Nsirim by the board in June, said the vision of the board was to stage regular competitions to popularise the sport in the country. “As a federation, we intend to continuously organise competitions, especially age-grade tournaments so that we can discover new talents that will take over from the ageing ones. “Our intention is to also sponsor our athletes to major international competitions. We have to give them that exposure,” he said. Oshodi added that the board has placed priority on the training of coaches and referees and would have several seminars for its technical officials.

“We will place emphasis on the training of our technical officials. We will organise coaches and referees seminars. Even journalists can benefit from our seminars so that we can let them know the rudiments of the sport,” he said.

to Nigeria. “I’m confident that we shall beat Nigeria, which will guarantee our place in next year’s tournament,” Le Roy said. He noted that his side’s 3-2 win over the Super Eagles in Calabar was the game changer and insisted that he and his boys won’t let such advantage slip away. “The magic for us was beating Nigeria in Calabar, that result was so crucial for us and we are not going to let our effort

go in vain when Nigeria comes to Congo,” Le Roy said confidently.

Le-Roy

Satech FC wins GOtv ‘Hood to Hood’ championship Emmanuel Tobi

atech FC of Mushin emerged champions of Season 2 of the GOtv Hood to Hood Football Championship after defeating Kings

L-R: Martin Mabutho, General Manager, Marketing, MultiChoice Nigeria; Elizabeth Amkpa, GOtv General Manager, captain of Satech FC, Tayo Saheed and Seyi Akinwunmi, NFF Vice President after the final of the 2nd GOtv Hood2Hood Football Championship at the National Stadium, Lagos on Saturday

FC 2-1in the final match played at the Legacy Pitch, National Stadium, Lagos on Saturday. The champions were presented with gold medals, a trophy and a cash prize of N500,000 while the second-placed team got N250,000. Earlier in the third place match, IGI Premier FC of Apapa defeated Rainbow FC of Iyana Ipaja 4-1 to cart home a cash prize of N150,000 while the fourth-placed team received a consolatory prize of N100,000. Gideon Benson of IGI Premier FC emerged as the tournament’s Most Valuable Player while his teammate, Onyekachi Wilston, finished as the highest goal scorer

of the tour nament. Kings FC’s Aaron Micheal was declared the best goalkeeper of the tournament. The trio received a GOtv decoder each for their feats. Speaking during the presentation of medals and prizes to the teams, the General Manager, GOtv, Mrs Elizabeth Amkpa, restated the commitment of her organisation to the development of grassroots football in Nigeria. Amkpa commended the 16 teams that participated in the tournament for their outstanding performances and for the spirit of sportsmanship and fair play displayed throughout the duration of the competition.

Akwa Ibom Stadium, consecration to youths Grace Adewara

unday Akpan is an undergraduate in the University of Uyo. The 300 level student is so excited about the new stadium complex in the state. The 30,000 capacity edifice is one of the projects of Governor Godswill Akpabio who is working towards making the state a destination for tourists within and outside Nigeria. Akpan shares the vision of the governor and is also looking beyond the immediate benefits the people of the state will derive from the stadium fashioned after the Soccer City Stadium in Johannesburg, South Africa. He said: “Many young ones will gain employment, and the services to be provided within the complex are also enormous. There will be administrative areas in the office and also technical areas. It is a big plus for the youths and it also means many of us will not have to go out of the state to seek employment. “It is another opportunity for

athletes to enjoy modern facilities while lovers of sports will have the chance of seeing national athletes in Akwa Ibom. It is a massive one for us in Uyo.” A sports consultant to the state, Paul Bassey, also believes the new Akwa Ibom Stadium is a good legacy for the youths not only in the state but in the entire country. He noted that the stadium would be open to talented youths to prepare for national and international competitions. The training pitch of the complex according to him is expected to be used on a daily basis for keep-fit purposes and there will be facilities to boost the talents of an average athlete at the complex. Bassey stressed that apart from the mainbowl which is for football and athletics, he expects athletes in other fields to make use of the training pitch and other facilities to be provided to enhance their talents. He said: “There will be quality coaches at the training pitch to help athletes in their various

disciplines and to generally be very fit. “Other athletes are also expected to be at the training pitch to meet the coaches. Boxers, weightlifters and others could do normal training on the pitch.” The consultant added that employment opportunities to be provided at the new stadium would also be a huge benefit to the youths in the state. “Hundreds of youths will be employed for various services at the stadium. Some will be administrative and others will be in technical areas. This administration has done so much for the youths. We also have the Ibom Tropicana as a relaxation centre for movies and shopping generally. “Whatever the youths are seeing in other big cities all over the world will also be available in the state. It is part of the uncommon transformation to give youths things they could be proud of. It is also expected that non-indigenes of Akwa Ibom will also benefit from the opportunities available at the new stadium,”

Bassey added. The stadium has a total of 90 exits. There are also an additional 30 for emergency purposes. In six minutes, spectators could be evacuated from the stadium in case of an emergency. The stadium, which is fully covered, has a Grand Stand, South Curve, North Curve and the West curve. There are four levels at the VIP area of the stadium. Level One is a business lounge. Level Two is the Super VIP lounge where the governor and other dignitaries stay. It has 90 seats and the arena is bullet proof. Level Three is Access level while Level Four is Media Tribune. The stadium, which has already been certified by the International Athletics Federation and the Confederation of Africa Football, also has a six-lane warm up track, while the mainbowl has a modern scoreboard capable of transmitting live images. Only recently, the Confederation of Africa Football gave

the stadium a go ahead to host the Nations Cup qualifier between Nigeria and South Africa on November 19. After an inspection visit last week, a CAF official, Fred Crentsil, said the edifice was a big addition to the sporting facilities in Nigeria. “I am happy with the modern facilities at the stadium which we see in top countries in Europe and I am particularly impressed that there are provisions for physically-challenged persons. Everything is taken care of at the stadium,” Crentsil, a Ghanaian, said. German outfit, Julius Berger Construction Company, built the stadium estimated to have cost around $20m, and the government of the state has already engaged the company to maintain the stadium for an initial period of 10 years. Adewara is a Mass Communication undergraduate of the University of Lagos.

International Sport 53

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Aguero wins Manchester derby for City

anchester City on Sunday kept their Premier League title race alive after beating 10-man Manchester United 1-0 at the Etihad with Sergio Aguero grabbing the game’s only goal. The result meant City are now six points behind leaders Chelsea, while United have dropped to ninth. Sergio Aguero had the game’s first real chance after eight minutes , but his effort was straight at David de Gea, who

pushed the Argentine’s strike away from danger. But the Spanish goalkeeper had no answer on 63 minutes, when Aguero powerfully turned a Gael Clichy cross into the back of the net. By this time United were already a man down after Chris Smalling was dismissed for two bookable offences. And when asked about referee Michael Oliver’s decision to red card Smalling, United manager, Louis van Gaal, admitted that the 24-year-old deserved

his marching orders. “The first yellow card for Chris Smalling, I did not see but OK, the referee gives a yellow card. You know as a player you have a yellow and you cannot do what he did for the second yellow card. That is logical,” he told BBC Sport. “I say a lot of things to the players and despite that they do not always follow what I say. There is also emotion and sometimes you cannot control your emotion but it was not very smart.”

Aguero (right)

RESULTS

Walcott warnsSanchezto‘calmdown’

rsenal forward Theo Walcott has revealed that the squad have told Alexis Sanchez to “chill out” or risk burnout later in the season. The Chilean, who arrived from Barcelona for around £32m in July, has made an impressive start to life with the Gunners by scoring seven Premier League goals in 10 games. However, Walcott, who returned to action in the 3-0 win over Burnley after 10 months out, said that Sanchez’s teammates have warned him to calm down and preserve some of his energy for the hectic festive schedule.

“In training he doesn’t even want to do recovery days,” Walcott told talkSPORT. “That’s how much he loves football. All the guys have told him he needs to chill out because at Christmas when all the fixtures come along, it’s going to catch up with you. “He doesn’t care, he just wants to play and win. He’s a good leader, and something that we haven’t had in the Arsenal team before. He’s a dream to play with.” Sanchez netted either side of Calum Chambers’ first Arsenal goal in the victory over the Clarets.

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

European Premier League Man City 1 – 0 Man United Newcastle 1 – 0 Liverpool Arsenal 3 – 0 Burnley Chelsea 2 – 1 QPR Everton 0 – 0 Swansea

Sanchez

Hull 0 – 1 S’ampton

Djokovic retains Paris Masters title ovak Djokovic has also gave birth to their “I won Wimbledon N insisted that feels on first child last month, and I’m still number top of the world having with the world num- one, so this is definitely

Djokovic

defeated Milos Raonic to retain his Paris Masters title. The 27-year-old, who did not drop a single set throughout the tournament, came out on top 6-2 6-3 to claim his sixth crown of the year. As well as this, Djokovic’s wife Jelena

ber one in strong form heading into the World Tour Finals at London’s O2 Arena. “I can’t be more grateful than I am at this moment and happier at this stage of my life,” he told Sky Sports News. “I became a dad and got married in July this year.

Mourinho backs Costa to hit top form

ose Mourinho is confident Diego Costa will soon be back to top form after making his return from injury in Chelsea’s 2-1 win over QPR. Costa was missing from Chelsea’s previous four competitive matches after returning injured from Spain duty following the last international break, reigniting the club-versuscountry debate. The 26-year-old striker was back in the starting

XI for the victory over Harry Redknapp’s men at Stamford Bridge, but, after a decent first-half showing, he appeared to tire and was substituted in the 78th minute. Manager Mourinho stated his belief that Costa could quickly reach the form that has seen him score nine Premier League goals in just eight appearances this term. “A muscular injury doesn’t just affect your body but also your brain,

Costa

because after that you are afraid of reactions,” he said. “Normally, the next match for him will be much better.”

the best time of my life. I’m trying to savour every moment of it. I’m going to go back home and see my boy for a few days and then come to the O2.” Djokovic is on course to end the year on top of the rankings with a lead of 1,310 points over Roger Federer.

Robben mocks Dortmund

rjen Robben insists Bayern Munich do not have any sympathy for Borussia Dortmund’s Bundesliga struggles. Netherlands international Robben scored an 85th-minute penalty as Bayern came from behind to defeat Dortmund 2-1 in Saturday’s Der Klassiker at the Allianz Arena. That marked Dortmund’s fifth consecutive league defeat and saw them slip into the Bundesliga’s relegation play-off spot. “I don’t think they’d have any sympathy for us [if the situation was the other way around],” he said. “We don’t need to sympathise with them, they’re a top team despite their league position. I have no doubt they’ll work their way back up the table.”

Too much money ruining F1 – Ecclestone

F Ecclestone

ormula 1 boss Bernie Ecclestone has said that there is “too much money” in the sport and that he does not know how to resolve its issues. The 84-year-old spoke candidly ahead of the United States Grand

Prix, a race in which Caterham and Marussia will not compete after going into administration. He told BBC Sport: “There is too much money being distributed badly - probably my fault. Like lots of agreements people

make, they seemed a good idea at the time. I know what’s wrong, but don’t know how to fix it. “We’ll have to do something about it because we can’t all sit back nicely, relaxed and think the problem will go away.”

Leicester 0 – 1 West Brom Stoke 2 – 2 West Ham

Serie A Chievo 0 – 0 Sassuolo Sampdoria 3 – 1 Fiorentina Torino 0 – 0 Atalanta Udinese 2 – 4 Genoa Napoli 2 – 0 AS Roma Empoli 0 – 2 Juventus

La Liga Granada 0 – 4 Real Madrid Atl. Madrid 4 – 2 Cordoba Barcelona 0 – 1 Celta Vigo Sociedad 0 – 1 Malaga Ath. Bilbao 1 – 0 Sevilla Villarreal 1 – 3 Valencia

ENGLISH PREMIER LEAGUE Team P GD 1 Chelsea 10 16 2 S’ampton 10 16 3 Man City 10 10 4 Arsenal 10 7 5 West Ham 10 5 6 Swansea City 10 3 7 Liverpool 8 Tottenham 9 Everton 10 Man United 11 West Brom 12 Newcastle 13 Stoke City 14 Hull City 15 Aston Villa 16 C/Palace 17 Leicester 18 Sunderland 19 QPR 20 Burnley

10 10 10 10 10 10 10 10 10 9 10 9 10 10

0 -1 2 2 0 -4 -2 -1 -11 -3 -5 -9 -11 -14

Pts 26 22 20 17 17 15 14 14 13 13 13 13 12 11 10 9 9 8

7 4

SPORT

MONDAY, NOVEMBER 3, 2014 NEW TELEGRAPH

Moses, Echiejile, Oboabona hit targets Ajibade Olusesan

ictor Moses reminded national team selectors that he has now returned to form when he scored Stoke’s first goal in their 2-2 home draw against West Ham on a weekend that defenders Elderson Echiejile and Godfrey Oboabona also hit target

in Europe. Moses who was overlooked by Coach Stephen Keshi for the next African Nations Cup qualifying match against Congo and South Africa scored in the 33rd minute of the Premier League match. The Nigerian who has had an excellent season so far with Stoke profited from a defensive mix up to scramble

home a Bojan Krkic’s weak effort. In France, Echiejile scored his first goal since joining Monaco last January in their 1-1 draw at home with Reims Friday night. Similarly, Oboabona did not allow the 45th minute yellow card he bagged in his club Rizespor’s league tie with Erciyesspor on Sunday affect his play as he

Opinion: Keshi’s return, a bad omen CONTINUED FRO M PAG E 5 4

other allegations of corruption that are unprintable. In camp, some of the players are not on talking terms. Some of them are so big such that they determine those to be fielded. There is disaffection in the team and the players are no longer playing for Keshi. Bringing him back due to presidential fiat or to settle political score is a big setback for the team and

the country. Let us ask ourselves why players like Azubuike Egwuekwe will always make the call up list but not trusted enough to feature in games. The return of Keshi is a bad omen. Now Nigeria is almost certain to miss Morocco 2015. It also means Keshi is bigger than the NFF and Nigerians, who rightfully so in my view, called for his sacking.

Funny enough, Keshi himself jumped at the opportunity to return. In his shoes, I would have rejected such offer. Somehow, Amodu will also be thankful to God that the ‘dirty job’ is back to the person who started it all. The NFF owes Amodu an apology. However, I am sure the last has not been heard about the drama in the house of football. We are anxious to see more scenes unfold.

put the home team ahead in the 75th minute before Edinho’s last minute goal denied his team victory as the game ended 1-1. Meanwhile, Efe Ambrose appears to have finally lost his place in Celtic line-up as Coach Ronny Deila again overlooked him in the club’s 1-0 win over Inverness last weekend. Ambrose has not played in Celtic’s last five games. Mikel Obi was not listed by Chelsea in their 2-1 win over QPR on Saturday.

Moses

Kano Pillars secure third league title Charles Ogundiya

ano Pillars on Sunday secured their third title in three years with a game to spare after a 4-0 whitewash of Nembe City in Kano. The victory was made possible after Dolphins dashed Enyimba’s title hope with a 1-1 draw in Port Harcourt, a win for Enyimba in the game would have put them in the driving He said: “I am not a staff of IESL. I was seat for the title as their last about going for a jog this (Saturday) morn- game was against Kano Pillars ing and when I heard about this, I decided in Aba. to key in and I am really enjoyed myself.” Enyimba striker, Mfon Udoh,

IESL keeps fit with cancer awareness walk

Charles Ogundiya

he International Energy Services Limited on Saturday staged a power walk to create awareness for breast cancer in Lagos. Speaking to New Telegraph, the chairman of the company, Dr Diran Fawibe, said exercise and awareness go hand-in-hand describing the walk as a way to exercise the body. According to Fawibe, the awareness power walk is one of the company’s corporate social responsibilities, adding that he hopes the event would be bigger next year. While appreciating the staff and everyone that

participated in the walk, Fawibe said walking the entire 10km has helped to increase the energy level of the participants. Some of the participants who spoke with our correspondent said there was need for people to be aware of the effect of cancer on people. An Indonesian, Jarot Mursito, said: “The most important aspect of life is happiness, and engaging in more exercise like we are doing now can help in controlling the scourge of cancer in our society.” For Kemi Akinrinmade, chairman of Made2serve Limited, he was about to embark on his daily run when he heard about the walk.

Participants at the IESL cancer awareness walk on Saturday

Match Fixing: Sodje thanks sporting press, Nigerians ormer Super Eagles the ‘Fake Sheikh’s five-page In July Mahmood was susF defender, Sam Sodje, article in The Sun on Sunday pended by his employers folwho was recently given reprieve from accusations of match fixing by a court in England has thanked millions of Nigerians, especially the spor ting press, who stood by him during his ordeal. Sodje, who once played in the English Premier League, got the re prieve when the National Crime Agency that had been i nve s t i g a t i n g h i m and 12 others for alle g ations of match fixing, were released following a judge’s comment in relation to the collapse of the Tulisa Contostavlos drugs trial. Undercover reporter, Mazher Mahmood, also known as

Lagos Squash Classics serves off with qualifiers

olade Okoya-Thomas Hall of Teslim Balogun Stadium will on Monday come alive as the qualifiers for the Lagos International Squash Classics serve off. 16 players will compete in the twoday qualifiers with four expected to make it to the main draw of the championship. Already 12 players have secured automatic places in the main draw based on their world rating, while four qualifiers will join them in the main draw scheduled to kick off on Wednesday. Players like Nigeria’s Sodiq Taiwo and Wale Amao who will take part in

scored his 21 goals, breaking Jude Aneke’s three years 20 goals record. Speaking to New Telegraph on telephone after the victory, media officer of Kano Pillars, Idris Malikawa, said it was a tough match despite the scoreline, but happy that they have secured the title with a game to go. In Warri, Gombe United secured a priceless 1-1 draw against Warri Wolves as the team continued their battle to avoid relegation at the end of the season.

the qualifiers have vowed to make the country proud. According to the Chairman, Lagos State Squash Association, Sanya Akindele, the tournament is a point-hauling event with players also jostling for honours in the boys’ U-19 event. Also an official from the World Squash Federation- Pakistan’s Tahir Khandaza will be in charge of proceedings at the tournament, while the draw for the competition has also been conducted by PSA and WSA. The prize money in men’s category is $25,000 while the women will jostle for the $15,000 prize money at stake.

led to the prosecution of Sodje and others. Mahmood’s article also led to the Contostavlos drug trial.

Sodje

lowing a judge’s statement that Mahmood might have perjured himself. Contostavlos’s case, that of Sodje and 29 others were dropped because of accusations of perjury against their accuser, Mahmood. Sodje who spoke at the weekend said he chose not to go into details about the matter but he thanked Nigerians and the sporting press for their support. “Our jour nalists have been wonderful, they stood by me, and did not condemn me while the case was in court, I really appreciate them and I thank them for their support and kind words. I also thank millions of Nigerians for their prayers and support, they have been wonderful,” said Sodje.

Kalika hails Siasia’s appointment as U-23 coach Olusoji Olukayode

utchman and former Super Eagles assistant coach, Simon Kalika, says Samson Siasia’s appointment as the national Under 23 chief coach is the right decision. Siasia appointment last month marks his second time as chief handler of the team, the first saw him lead the team to the final of the Olympics in 2008 and that also, Kalika told New Telegraph, marks the former Nigerian striker out as the best man for the job. His words: “I think the appointment of Samson Siasia is a very good one because he has a lot of experience with the Olympic Team already. He turned a team with basi-

cally local players into a world class team that made the Olympic final. Kalika was Siasia’s assistant in his first spell as the team’s gaffer.

Kalika (left) with Ronadihno

NEW TELEGRAPH MONDAY, NOVEMBER 3, 2014

Sanctity of Truth

On Marble

Developing your unique thought to the level of being appreciated and adopted by the world - that’s genius. – Ogwo David Emenike

World Record

May 18, 2012, Ram Singh Chauhan of India has the world’s longest mustache, 14 feet, according to the Guinness Book of World Records.

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Some hard questions for the Buharists

his is indeed the time for us to answer some hard questions and speak some home truths. It is a season that shall separate the men from the boys. It is a time that the holy and wholesome light of truth shall overwhelm and expose the evil darkness of doublespeak and deceit. It is a season that the enunciation and exposure of the ugly realities of the day must not be sacrificed or compromised on the alter of political expediency or on the table of fear. Thankfully there are a few courageous and discerning voices that have risen to the occasion, made the relevant observations and asked the right questions. Amongst them are Mr. Bayo Oladeji and Mr. Opeyemi Agbaje. Permit me to begin with the former. Oladeji, a seasoned and experienced journalist who writes for the Leadership Newspaper in Nigeria, wrote the following on his Facebook page on 31st October 2014. “When Chief Femi Fani-Kayode came out to expose the plan of the APC chieftains to impose a Muslim/Muslim ticket on the party, their attack dogs were ordered to abuse him using words picked from the gutter. They even told us he was never part of them! Chief Tom Ikimi came out and corroborated him and they said he was telling a moon tale. They then recalled his participation in the Abacha evil rule which murdered Ken Saro Wiwa as if their hero, Muhammadu Buhari did not play same role in the same government. When I raised the issue here after confirming from those who were involved in the plan some who can never talk to their hero rose up ignorantly to fault me. But since President Olusegun Obasanjo did the same, their response remains a deafening silence! When I was growing up I was told that SILENCE MEANS CONSENT. Meaning those who have been saying it are not wrong after all. The Church has kept mum for so long and they are cornering all for themselves. For example, I have challenged the apologists of APC to publish the list of names and the religions of all their political appointees in the Southwest especially the following- the governors, SSGs, Speakers, Finance Commissioners in all the APC controlled states in the southwest. Let us see how fair they are to the two religions in the country. If they could do this at the state level where they have someone who claims to be a Christian as deputy governor, we wonder what they would do when they have the President and the Vice President from them. In the whole of the North, there is only one Christian in the National Executive Commitee and the National Working Commitee of the APC. His name Engineer Babachir David Lawal from Adamawa State! And if you know the extent he went to get that seat, you would know what that party is up to. These are the issues. It goes beyond President Goodluck Jonathan. If the party does not change, God spare our lives, come 2019, you will still find me doing the same. Until the rotten tooth is pulled out, the mouth will continue eating with caution. It is a tragic irony that those who have come out to defend them

Crossfire FEMI FANI-KAYODE ffk2011@aol.com

are those who claim to be Christians’’. Oladeji’s observations are indeed food for thought even though in fairness to the APC, their party Chairman, Chief John Odigie-Oyegun, did come out and responded to Obasanjo saying that his party had no intention to field a Muslim/Muslim ticket. The question is this: in the light of General Mohammadu Buhari’s latest assertion that he cannot rule out choosing a muslim running mate if he manages to win the nomination can we believe the National Chairman? I certainly don’t but even if I do and even if Oyegun has the best of intentions, at the end of the day it is the Presidential candidate of the party that will make his choice as to who his running mate will be and what faith that running mate represents and not the party’s National Chairman. To that extent Buhari’s celebrated and widely reported comments about not seeing anything wrong with a Muslim/Muslim ticket, in my view, speak volumes and outweigh Odigie-Oyegun’s denials. To add to Bayo’s concerns, permit me to point out the fact that in the APCcontrolled Lagos State today 80 per cent of State House of Assembly members are muslim, 80 per cent of Local Government Area Chairmen are muslim, 80 per cent of National Assembly members are muslim and 80 per cent of Commissioners and key government functionaries are muslim. All this in a state that has an overwhelming christian majority. Are you surprised or alarmed? That is the APC for you. They implement their hidden agenda by guile, deceit and subtefuge and they prey on our sense of fair play, generosity and magnamosity. In short thay have taken us all for granted. Yet it gets worse and it doesn’t stop there. It is also a fact that every single state that is under the control of the APC in the south west today is governed by a muslim whilst 90 per cent of APC governors throughout the Federation are muslims. If this does not paint a clear picture about what the overall agenda of the APC is and if it does not give a clear indication about what their intentions for our country really are then nothing ever will. Let us come to our second commentator. Agbaje, a banker, an economist and a lecturer at the Lagos Business School has made his own contribution to the debate by asking the following insightful questions on his Facebook page on 31st October, 2014 . He asks: “How come the only debates we have in Nigeria are over a “Muslim-Muslim” ticket? How come the opposition party’s instincts are always in that directionNuhu Ribadu/Fola Adeola in 2011 and

Buhari

now all sorts of Muslim-Muslim permutations and possibilities? How come a discussion of a Christian-Christian presidential ticket is completely inconceivable and has not been countenanced by anyone? How come Buhari, who even in a military regime instituted a Muslim-Muslim/North-North ruling clique along with Tunde Idiagbon and eight or nine out of 11 Supreme Military Council members, is now testing the ground again with another possible Muslim-Muslim pairing? Is it that we have a shortage of capable Christians in NIgeria?’’ I wonder if anyone can answer these questions. I believe that the Nigerian people deserve to hear the answers. The fact of the matter is that even though many in our country are in deep denial and have buried their heads in the sand like the proverbial ostrich, religion has not only become a factor in our politics today but it has actually become THE factor. This was never meant to be the case and it is a sad and unwelcome development but, sadly, that is the reality and we have no choice but to live with it. Those that dispute it ought to be reminded of the fact that these are the days of Boko Haram. They ought to be reminded of the fact that this is an age that has witnessed the unprecedented and meteoric rise of Islamic fundamentalism in the affairs of our nation. They ought to be reminded of the fact that these are the days that have witnessed the advent of an opposition party that is hell bent on using religion as a major political weapon in an attempt to grab power at the center regardless of the dangers of doing so. Given all this only a fool would suggest that religion is not a major factor in the unfolding events in Nigeria’s political arena today.

There is no gainsaying that both Oladeji and Agbaje have raised some very pertinent issues and their deep concerns reflect the thinking of millions of Nigerian who are very worried about the unfolding agenda. We await the response of anyone within the ranks of the Buharists and the Haramite hordes for an answer to these pertinent questions and observations that these two courageous and deeply patriotic Nigerians have raised. Meanwhile let us look at the unfolding events in the Federal House of Representatives and the shenanigans of the Speaker of the House, Alhaji Aminu Tambuwal. It is bad enough that the APC deprived the yoruba the slot of Speaker of the House when Tambuwal emerged but the latest exercise in perfidy is even worse. A Speaker of the House changes parties and yet refuses to resign as Speaker after the party on whose platform he got that position has asked him to do so. Can this be right? Just how shameless and devoid of morality or conscience can the APC be? Will these Buharists and Haramites ever know the meaning of decency? Do they have any honour? Can they be trusted with power? When ignorance reigns supreme in the mind of an imbecile that knows next to nothing it lowers the quality of debate and discussion. Those that compare the case of Tambuwal to that of Governor Segun Mimiko of Ondo state and a number of others are good examples of the proverbial imbecile and I will tell you why. Mimiko’s former party, the Labour Party, did not complain about his decamping to the PDP and neither did they ask for him to resign as governor. As a matter of fact virtually the whole of the Labour Party in Ondo state and the entire country decamped with him and went back to the PDP. In the case of Tambuwal, the PDP, on whose platform he was elected to be Speaker, has formally asked for his resignation from that position. Instead of responding to that call and resigning honorably the man has refused to resign and instead has adjourned the sitting of the House for at least one month. Surely even those that have a brain that is the size of a monkeys can appreciate the fact that this is totally unacceptable behaviour. Yet I am not surprised and neither should anyone else be. That is the style and manner of Nigeria’s opposition party. That is the APC way: lies, deceit, doublespeak, Byzantian manouverings, subterranean plots and hidden agendas are their stock in trade. They are nothing but darkness and only the light of God and the power of truth will expose them. May God deliver our nation from their ilk. Meanwhile those that are claiming that the Federal Government is planning to kill Tambuwal should grow up. If I were Tambuwal I would watch my back very carefully and sleep with one eye wide open because the Haramites that he has just joined cannot be trusted. They are prepared to say and do anything in their quest to win power and in an attempt to discredit the Federal Government.

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.