Binder1234567890 monday, october27,2014 by Newtelegraphonline

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, October 27, 2014

Vol. 1 No. 251

/newtelegraph

@newtelegraph1

www.newtelegraphonline.com

N150

12 pages of New York Times inside

Meet CEOs of Nigeria’s leading banks

ith total assets estimated at N22.64 trillion ($138b) and robust annual profit that pale the

figures posted by some multinationals, banks no doubt make some of the most significant contributions to Nige-

ria’s economic growth. That fact inevitably implies that chief executive officers of banks should rank among the most

influential personalities in the country. But the self-effacing ethos of the banking world has made ample knowledge of these

individuals a very remote possibility. Today, New Telegraph, beams its searchlight on the CEOs of Nigeria’s 24

banks whose strength is evident in the many stress tests they have survived, from the recapitalisation CONTINUED ON PAGE 4

APC govs mobilise support for Buhari lI am not bothered, says Atiku

Quick Read Editorial L-R: Country Manager, International Finance Corporation (IFC), Mr. Solomon Quaynor; Group Managing Director, First City Monument Bank (FCMB) Limited, Mr. Ladi Balogun and Company Secretary, Mrs. Funmi Adedibu, at the signing of a loan facility secured by FCMB from IFC in Lagos…at the weekend

The NUC directive }19 on PhD

I’m fully in senatorial race, says Kalu

Obasanjo warns against candidates of same religion }4

Felix Nwaneri

ormer Abia State governor, Dr. Orji Uzor Kalu, has reiterated that he is

still in the race for the Abia North Senatorial District in the 2015 general election. A media aide to the former governor, Emeka

Ohia, said yesterday that contrary to misleading reports in some sections of the media, including the Broadcasting Corporation of Abia State, Kalu is fully

in the race for the senatorial seat. According to him, the former governor is not just in the race but sure of victory, given his popularity,

political experience and business contacts. He warned the Peoples Democratic Party (PDP) National Vice Chairman CONTINUED ON PAGE 6

2014 budget: Lagos has lion’s share of federal projects }5

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Obasanjo warns parties against fielding candidates of same religion Kunle Olayeni and Babatope Okeowo

ormer President Olusegun Obasanjo yesterday cautioned political parties against fielding candidates and their running mates who are of the same religious faith in the 2015 general election. He said in a statement in Abeokuta, a copy which was made available to reporters, that it was insensitive for any political party or political leader to be toying with “proselytisation”, given the current happenings in the polity. The former president’s warning came against the backdrop of the statement by former Head of State and a leading presidential aspirant of the All Progressives Congress (APC), Major General Muhammadu Buhari, that he could pick a fellow Muslim as running mate if he emerged as the party’s standard bearer for the February 2015 presidential election. He had said he could pick either a Muslim or a Christian, as he had done in 2003, 2007 and 2011, as

TODAY’S WEATHER FORECAST LAGOS

28oC

25oC

Thunder Storms

ABUJA

19oC

12oC

Sunny

PORT HARCOURT

23oC

18oC

Thunder Storms

KANO

37oC

17oC

Mostly Sunny

ENUGU

32oC

23oC

Thunder Storms

IBADAN

29oC

23oC

Thunder Storms

CALABAR

29o C 22oC Storms

MAIDUGURI

ONITSHA

running mate. Buhari, in an interview with The Cable, an online newspaper, had said: “I firmly believe that Nigerians, having gone through what they have gone through, realise it is not a matter of religion, but a matter of Nigeria.” But Obasanjo warned of danger inherent in giving religious colouration to 2015 electioneering. According to him, Nigeria cannot, at this stage, raise the spectre and fear of Islamisation or Christianisation that a same-religious ticket will connote. He said: “Sensitivity is a necessary ingredient for enhancement of peace, security and stability at this point in the political discourse and arrangement for Nigeria and for encouraging confidence and trust. “It will be insensitive to the point of absurdity for any leader or any political party to be toying with Muslim-Muslim or Christian-Christian ticket at this juncture. “Nigeria cannot, at this stage, raise the spectre and fear of Islamisation or Christianisation. The idea of proselytisation in any form is grave danger that must not be contemplated by any serious-minded politician at this delicate situation in Nigeria, as this time is different from any other time. “Therefore, disregarding the fact that there are fears that need to be allayed at this point will amount not only to insensitivity of the highest order, but will also amount to very bad politics indeed.” Meanwhile, ahead of the APC presidential primaries slated for December, the Coordinator of Buhari’s campaign in the South-West, Mr. Bola Ilori, has said the leaders of the party in the geo-political zone had agreed to support the candidature of the former military head of state. Ilori, a Special Adviser on the Environment to Osun State Governor, Mr. Rauf Aregbesola, said this at the weekend in Akure during a meeting with the delegates to the party’s primaries. The delegates included chairmen and secretaries of APC in each of the local

Meet CEOs of Nigeria’s leading banks CONTINUED FROM PAGE 1

38oC 24oC Partially Cloudy

18oC

11oC

Partially Cloudy

government in Ondo State and ward executives. Ilori told them there was no better time to salvage the country from its problems than now and no better person to do the job than Buhari. “If we all accept that Nigeria is facing one of the most trying periods as a nation and we equally agree that the ruling Peoples Democratic Party (PDP) and its leaders have failed to improve the lot of the Nigerian people, but have rather foisted political and economic terrorism on the country, then this is the period to join hands to salvage the ship of the Nigerian state from imminent collapse. No person is more qualified and available than a man who possesses the requisite ingredients and character that Nigeria needs at this moment. That person is Buhari,” he stated. Ilori said corruption and indiscipline were at the root of the Nigerian problem and if properly addressed, the Nigerian project would become a reality. He said: “Unfortunately, those who have been leading Nigeria since 1999 have become masters of indiscipline and are too involved in corruption that they have become too engaged in it they cannot do anything to make the system work. Invariably, the situation of Nigeria is close to the state of nature where life has become brutish, nasty and short. “The incidence of violence has become common place; kidnapping, rape, rituals, infrastructural decay, unemployment, bare-faced robbery in high places have become the order of the day. For the Nigerian project to survive, Nigeria needs a new leader whose integrity, self-discipline and incorruptibility have been adjudged even by his arch-political enemies as never being in doubt.” According to him, the choice before Nigeria is whether to continue to have leaders who are treasury looters or a leader who will use the nation’s resources for the benefit of the people and lead Nigeria on the path of growth and development.

of the Prof. Charles Soludo era as CBN governor. The series is essentially a celebration of success exemplified in the careers of these professionals over the years.

It will highlight their work and the philosophy that shape their work ethic, and help put a face to the enduring brands that Nigerian banks have become. Detail on pages 37 - 40

KANO ELECTRICITY DISTRIBUTION PLC The Chairman, NUJ, Kano State Council No. 13 B Farm Center Kano Kano state

23/10/2014

Dear Sir,

LETTER OF APOLOGY On behalf of the Management of Kano Electricity Distribution Plc, I wish to convey our sincere and unreserved apologies over the unfortunate incident of Wednesday 22nd October 2014 at the Board Room of KEDCO Plc. It is highly regrettable that what started as an interesting and highly engaging interactive session later turned to be a bad experience for some of us that attended the exercise through such a weighty but unsubstantiated allegation of thievery. This has caused the Management of KEDCO untold hardship and incalculable embarrassment and it is our sincere hope and prayer that such ugly incident will never repeat itself. Let me categorically state that the Management of KEDCO regards members of the press with esteem and highest level of consideration and will never partake in anything that will embarrass the profession or bring journalists into disrepute either directly or indirectly. We genuinely see you as our compatriots and partners in progress. And we cherish the warm and cordial relations which we have built over the years and we intend to keep the flag flying for many more years ahead. Please accept this humble apology and we fervently pray that together we open yet a new chapter in our dynamic and mutually rewarding interface. Yours sincerely,

Mukhtar Baffa Usman

Head Corporate Communication For: Management

News

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

APC govs mobilise support for Buhari Ayodele Ojo and Johnchuks Onuanyim

ormer military Head of State, Major General Muhammadu Buhari, is primed to emerge as the presidential candidate of the All Progressives Congress (APC) for the February 14, 2015 election as support for his candidacy continues to grow among influential party members. His chances at the December 2 national convention, where the party’s presidential candidate will emerge, have become brighter with the resolve of APC governors to throw their weight behind him. Given the peculiarity of Nigeria’s political environment, the governors, as party leaders in their states, play central roles in the emergence of a presi-

dential candidate, especially for the nation’s two leading political parties, APC and Peoples Democratic Party (PDP). As the party leaders in their respective states, they control the structures and by extension the delegates to the national convention who in turn will elect the party’s presidential candidate. New Telegraph learnt that the governors’ decision to back Buhari was arrived at after the APC governors did a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis on the four aspirants that have indicated interest in the presidential race. Those in the race apart from Buhari are former Vice-President Atiku Abubakar; Kano State Governor, Dr. Rabiu

Kwankwaso and publisher of Leadership Newspapers, Mr. Sam Nda-Isaiah. Kwankwaso was knocked out of contention because of his “limited” political scope, which is restricted only to Kano State while Nda-Isaiah is considered to be a lightweight who does not have political base even in his home state, Niger. The governors also do not see the former vice-president as being “strong” enough to defeat Jonathan in the North. The governors’ preference for Buhari was evident during his October 15 declaration at the Eagle Square, Abuja where four of them – Rotimi Amaechi (Rivers), Babatunde Fashola (Lagos), Tanko Al-Makura (Nasarawa) and Adams Oshiomhole (Edo) attended the event

unlike a situation whereby none of them was present at Atiku’s declaration on September 25. Buhari’s electoral strength as demonstrated in the previous elections, especially in the 2011 presidential election, in which he garnered about 12 million votes, convinced the governors of his ability to beat President Goodluck Jonathan, who from all indications will emerge as the PDP’s standard bearer. In the 2011 election, Buhari, who was the candidate of the defunct Congress for Progressives Change (CPC), won in 12 out of the 19 northern states of Bauchi, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Niger, Borno, Sokoto, Yobe and Zamfara. Jonathan won in seven states of Kwara, Kogi, Pla-

teau, Benue, Nasarawa, Taraba and Adamawa. The former head of state polled 11, 914,953 votes while Jonathan secured 22, 350, 242 votes to emerge as president. Buhari, before his declaration, had held meetings with virtually all the APC governors, seeking their support for his ambition. “We are confident that with Buhari as APC presidential candidate, President Goodluck Jonathan will be in for a big battle. You know Buhari does not have money, but we have resolved to deliver the party ticket to him and provide the needed logistics. All things being equal, the Buhari candidacy is a done deal,” an APC governor told New Telegraph. The governors have stepped up mobilisation for the former military

L-R: Special Adviser to the Minister of Power, Mr. Olajuwon Olaleye; President, World Stage Limited, Mr. Segun Adeleye; President, Lagos Chamber of Commerce and Industry, Alhaji Aderemi Bello and lecturer, Centre for Petroleum Energy, Economy and Law, Ibadan, Dr. Joseph Omojolaibi, at a national electricity power conference in Lagos…at the weekend. PHOTO: SULEIMAN HUSAINI

2014 budget: Lagos has lion’s share of federal projects Onwuka Nzeshi ABUJA

espite political rivalry between the Federal Government and the Lagos State Government, the state got the lion’s share of N22.68 billion worth of capital projects being executed by the central government across the six states of the South West geo- political zone in the 2014 Appropriation Act. The allocation is 49.8 per cent of the total amount of N45.54 billion allocated to by the Federal Government to execute 1, 169 projects in the zone. Of the lot, Lagos has a

total of 442 projects, the highest in the zone, with Ekiti State having the least allocation of N1.78billion, representing 3.39 per cent for 96 projects. The latest report of the National Assembly Budget and Research Office (NABRO), a copy of which New Telegraph obtained at the weekend, showed that the allocation to Lagos is less than that of 2013 by 30.73 per cent as the state got N32.74 billion last year. Similarly, Ekiti State had its share reduced by 62 per cent as it got N4.64 billion worth of federal projects in the 2013 Appropriation Act. According to the report, Ogun State has a total al-

location of N6.28 billion in the 2014 Appropriation Act to execute capital projects. This is less than the total of its 2013 allocation of N9.09 billion by over 30 per cent. The highest capital fund allocation went to the Ministry of Works with N2.55 billion, representing 40.6 per cent of the state’s total allocation for the period. Ondo State has a total allocation of N3.48 billion, representing 7.64 per cent of the total allocations to the zone for federal capital projects during the period. A total of 92 projects are being executed by the Federal Government in the state. In Osun State, the Fed-

eral Government has a total allocation of N4.05 billion in the 2014 Appropriation Act for capital projects execution. Out of this, the highest capital fund allocation went to the Ministry of Education with N1.01 billion, representing 25 per cent of the state’s total allocation while the Ministry of Works has the second highest allocation of N780 million. During the period under review, Oyo State has a total allocation of N7.27 billion for the execution of Federal Government’s capital projects in the state. This amount is less than that of previous year’s allocation of N13.42 billion

by about 46 per cent. The highest capital fund allocation of N1.3 billion went to the Ministry of Agriculture and Rural Development while N697.57 million went to the Ministry of Education. NABRO had, since its inception in 2012, published an annual Mapping of Capital Projects Report to afford legislators a better opportunity of monitoring Federal Government projects in their states. This will enable them to appreciate the quantum of funds allocated to their states in the national budget and the distribution of capital projects throughout the country.

ruler who had contested the 2003, 2007 and 2011 presidential elections on different platforms. It was learnt that the governors are mobilising funds for Buhari to match the heavy war chest of Atiku. The governors are also funding some of the states where the party has no governors or elected public office holders. A source told New Telegraph that Amaechi is mobilising the party structures in the SouthSouth for Buhari and he is also liaising with his Imo State counterpart, Chief Rochas Okorocha, mobilising party members in the South-East. The party leadership is also pro-Buhari as one of the leaders of the party and former Lagos State Governor, Senator Bola Tinubu, is among those mobilising support for Buhari. A source said Tinubu had met some governors, especially those from the South-West, and persuaded them to back Buhari. However, the support of the governors for Buhari may cost Tinubu the vicepresidential slot reportedly ceded to him. Tinubu has been considering three of his lieutenants as Buhari’s running mate. They are: former Lagos State Attorney General and Commissioner for Justice, Prof. Yemi Osibajo; former Lagos State Commissioner for Economic Planning, Mr. Yemi Cardoso and Senator Ajayi Borroffice. But it was learnt that as a condition for supporting Buhari, the governors are determined to present one of their own as his running mate. Already, Oshiomhole is being considered to be Buhari’s running mate based on his popularity, mass appeal and for being less controversial. “The governors are looking in the direction of Oshiomhole as running mate to Buhari because he has mass appeal. The fact that he is also from the Niger Delta also confers an advantage on him. The essence is to divide the Niger Delta votes. Oshiomhole will also receive more sympathy from the people than Amaechi who is seen as President Goodluck Jonathan’s enemy,” the source said. But Atiku has dismissed the claim that the governors have endorsed Buhari as the party’s candidate, saying he is not bothered by their position. “That story is false. Whoever tells you that all CONTINUED ON PAGE 7

News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Oil prices: Nigeria has three months’ savings, says Okonjo-Iweala Ayodele Aminu

hould world oil prices continue to fall, Nigeria has two to three months of rainy day savings to cushion the economic effects, the Coordinating Minister for the Economy and Finance Minister, Dr. Ngozi OkonjoIweala, has stressed. The minister, who disclosed this to the Financial Times (FT), said should the oil price dip below $78 per barrel, Nigeria could draw down on the Excess Crude Account (ECA) in spite of the “contingencies are put in place.” The ECA, which Okonjo-Iweala set up during a previous stint as finance minister, is for gathering savings above the budgeted oil price and currently has $4 billion, which is $2 billon short of what the International Monetary Fund (IMF) recommended. Having witnessed a near 30 per cent decline in revenues over the past three months, Africa’s leading oil producer is already facing a painful readjustment. The political timing is awkward, with opposition preparing to mount a strong challenge to President Goodluck Jonathan at elections scheduled for next February, and rival politicians bidding to

outspend each other ahead of the vote. The minister, however, noted that “even if prices continue to go down we can survive sufficiently for two to three months. That is the time needed to get other measures in place,” she said. “What you don’t want is a hard landing.” Nigeria, which depends on oil typically for about 80 per cent of revenues, is assuming an oil price of $78 per barrel for its 2015 budget, Okonjo-Iweala told the FT. This is up from $77.5 per barrel in 2013 and precariously close to recent world prices. Nigeria was in a much stronger position last time the world price of oil tumbled, with about $22 billion squirrelled away in the ECA. Those funds helped the country weather the 2008 global financial crisis with economic output relatively unscathed. But during recent boom years the government has persistently used the ECA, dividing out the proceeds among the 36 states in the federation, which are constitutionally entitled to their share. A sustained slump in world oil prices would therefore necessitate either greater borrowing to finance the deficit, or budget cuts.

Nigeria also holds foreign reserves equivalent to $39 billion. These have come under recent pressure as the Central Bank of Nigeria (CBN) has stepped in to prop up the naira, but still cover nine months’ worth of imports. “On the fiscal side we need to ramp up our nonoil revenues,” Mrs OkonjoIweala said. To this end, she said, the consulting firm McKinsey, has been carrying out an extensive review of revenue services in order to identify potential gains. Nigeria’s ratio of nonoil tax revenues to GDP, at 4.5 per cent, is among the lowest on the continent.

McKinsey helped South Africa broaden its tax base to the tune of about $3 billion and Okonjo-Iweala believed similar gains were possible over the longer term in Nigeria. The minister added she was encouraged by an exhaustive data review, which saw Nigeria’s economy overtake South Africa’s as the continent’s largest, showing that the economy had diversified to a much greater extent than previously thought. “In an oil country you can never feel at ease exactly. But I feel we can master this situation because we have a diverse base,” she said.

A sustained slump in prices, however, would necessitate more painful measures. “We will have to look very hard at recurrent expenditure, and identify overlapping agencies. When the price is heading down everyone sees the necessity but that doesn’t stop them hating you,” she said. Okonjo-Iweala agreed, however, that lower oil prices would provide a stronger incentive to government to rein in oil theft, which has cost billions of dollars a year, and help to drive through stalled oil sector legislation to stimulate production.

“That would enable us to pick up quantity to help us cushion on the price side,” she said. Global oil prices had tumbled to four-year lows below $83 per barrel this month, threatening - if current levels are sustained for a long period - to push some countries budgets (Nigeria inclusive), especially some of the six members of the Gulf Cooperation Council into deficit after several years of big surpluses. The price of crude closed last Friday at $81.01 a barrel after dropping to $80.49 earlier in the week, a price not seen since June 2012.

I’m fully in senatorial race, says Kalu CONTINUED FROM PAGE 1

(South-East), Colonel Austin Akobundu (rtd), to stop misleading the National Working Committee (NWC) and other organs of the party on Kalu’s ambition. “Dr. Orji Kalu is fully in the 2015 senatorial race. He is not just in the race, but will win the contest. With his popularity, political experience, business contacts and the niche he has carved out for himself, he is sure of winning the election. “So, Colonel Akobundu should stop misleading the PDP, its National Working Committee and other organs on the former governor’s ambition,” he said. Akobundu and some chieftains of the Abia State chapter of the PDP are working to frustrate Kalu’s ambition despite the initiative of the party’s national leadership to reconcile aggrieved members across the various state chapters, he added. He stated that to them, any attempt to “readmit” the former governor into the PDP would cause disaffection in the state chapter. But, Kalu, who had severally dismissed the claim,

attributed his interest to run for the seat on the platform of the PDP to his resolve to serve the people. He had told journalists penultimate weekend at the Lagos airport, while on his way to the Middle East, that bickering by some politicians in the state would not deter him. He also declared that he would continue to pursue the ongoing reconciliation in the PDP despite distractions from the Abia State chapter of the party. He said: “I have picked my nomination form at Wadata Plaza. I decided to run for Senate after several calls by the good people of Abia North for better representation. Governor Theodore Orji and I are from different senatorial zones and more so, the mandate belongs to the people. No one has monopoly of power to make anyone senator except God and your constituents. “I believe that the beauty of democracy is fair play and the president has promised a level playing field for all aspirants. Before venturing into politics, I had been empowering my people, so I am sure of victory,” Kalu added.

L-R: Raw Material Development Manager, Nigerian Breweries (NB) Plc, Mr. Uzodinma Onuoha; Head, Government Relations, Vivian Ikem; Managing Director, Mr. Nicolaas Vervelde and the Technical Director, Mr. Henk Wymenga, at the signing of an agreement between the ministry and the company in Abuja…at the weekend.

Army to arraign more soldiers for mutiny Emmanuel Onani

arring any change in plan, the Army will, today, arraign more soldiers before a General Court Martial (GCM), which began sitting on October 15, to try 96 officers and soldiers for alleged mutiny and other related offences against service laws. Upon the formal convening of the GCM on October 2, the Army had announced that 15 officers and 82 soldiers, will be tried for offences bordering on alleged mutiny, assault, absence without leave, house breaking, conduct prejudicial to good orders and service discipline, as well as offences relating to public property. However, during the first sitting of the BrigGen. Musa Yusuf-led ninemember court martial, on October 15, the prosecut-

ing team made an oral application for the striking out of the name of Lance Corporal Anthony Simeon, based on a medical report, which showed that he was indisposed, and could not stand trial. Yusuf, also informed that owing to the large number of accused persons, coupled with the small nature of the Conference room of the Army Headquarters (AHQ) Garrison, venue of the trial, accused soldiers will be tried in batches. Speaking with New Telegraph yesterday, a highly-placed military source disclosed, that more accused soldiers will be arraigned today. The military source, who craved anonymity, said the arraignment is scheduled for 9a.m. today. According to him, “I can confirm that some of them (soldiers) will be arraigned today, before the

ongoing court martial. You know the court martial is an ongoing exercise, and don’t forget that they are facing trial in phases,” he stated. Asked if any of the officers will appear today, since none in that category has been arraigned, he said: “I won’t give you specifics; even if it’s one soldier or an officer that is for trial, I believe it’s new to you. “But, if you want to be Oliver Twist, I wish you good luck,” he added. The court-martial proceedings, which were open to journalists, are now being conducted behind closed doors. The decision to hold proceedings in secret, according to the spokesman for the AHQ Garrison, Col. Aliyu Yusuf, was to preserve national security, and also not to jeopardise military operations in the North-East.

Before the development, however, the Commanding Officer of 111 Special Forces Battalion, where the accused soldiers had served, Lt. Col. Timothy Opurum, told the court that “All the units in the North East have been asking for equipment.” In his examination-inchief, Col. Opurum told the court martial, that “on the 3rd of August, my battalion was tasked to advance to Delwa, capture and hold Delwa, to enable the 251 battalion to pass through me on their own objective, which was to capture Damboa.” He had further stated that as at when the orders to advance to Delwa were given, 47 soldiers refused to proceed on the operation. In that connection, Opulum said he had to resort to advancing with only five officers and 29 soldiers.

News

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Nigeria’s oil reserves drop to 34bn barrels Adeola Yusuf

igeria’s oil reserves have been depleted to 34.46 billion barrels, New Telegraph gathered at the weekend. The depletion, which occurred against the backdrop of the falling prices of crude at the international market, came on a day the Nigerian Association of Petroleum Explorationists (NAPE), said exploration drilling for oil had dipped to the lowest ever in the nation’s history. Nigeria, Africa’s biggest crude exporter, has, according to findings, depleted 540 million barrels in nine months based on a

daily average of two million barrels production from the reserves. The depletion was recorded on production data from February, when the Director, Department of Petroleum Resources (DPR), George Osahon, officially said the nation’s reserves had been depleted to 35 million barrels. Osahon had said at the Nigeria Oil and Gas (NOG) conference in Abuja that the oil reserves base for Nigeria, which has set 40 billion barrels target for 2020, was 35 billion. A DPR production schedule seen by New Telegraph, however, revealed that the International Oil Companies (IOCs) and the

indigenous operators of marginal field acreages produced an average total of two million barrels per day from January till date. This is due to the relative stability in the production from the oil-rich Niger Delta region during the time under review. New oil discoveries, on the other hand, are few and far between and where reported, the reserves are getting smaller. President of NAPE, Adedoja Ojelabi, told New Telegraph that changes in the exploration for oil and gas “are even more profound.” She said: “For the first time in several years, the nation’s reserves are

showing a sign of decline as exploration drilling has hit the lowest level ever experienced in the nation’s history. “Expectedly, reports of new discoveries are few and far between and where reported, the reserves are getting smaller. “The operating landscape is experiencing an unprecedented rate of pluralisation as the industry witnessed the largest number of divestment and acquisition (D&A) activities that bring new players as operators to the risky business of oil and gas exploration and production.” She added that the Nigerian oil and gas industry landscape has, in the

last five years, witnessed some of the most sweeping changes since the crude oil was first discovered in commercial quantity at Oloibiri, Bayelsa State, in 1956. She stated that NAPE would continue to support the government’s efforts aimed at salvaging the nation’s oil industry. The nation’s 40 billion barrels reserves target, she said, was possible if explorationists drill deeper and deploy latest technology. “These and many more could be made possible if there is a boost in investments for exploration,” she said. Global oil prices had tumbled to four-year low below $83 per barrel this month, threatening - if current levels are sustained for a long period - to push Nigeria and some of the six members of the Gulf Cooperation Council into deficit after several years of big surpluses. The price of crude closed last Friday at $81.01 a barrel after dropping to $80.49 earlier in the week, a price not seen since June 2012. Nigeria joined Russia, Colombia and Venezuela as the biggest losers from

the decline in oil, according to Neil Shearing, the chief emerging-markets economist at Capital Economics Ltd. in London. Nigeria is the continent’s biggest producer of crude, which accounts for about 85 per cent of government revenue. The country also imports about 70 per cent of its fuel needs because of inadequate refining capacity. In response, the Federal Government had unveiled contingency plan aimed at shielding the economy against the steep fall in the price of oil, by raising revenue targets of the key non-oil revenue agencies for next fiscal year. Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said last week in Abuja, in an apparent response to New Telegraph’s story in which experts faulted the $78 oil benchmark for 2015 budget, that the exigency plan by the Federal Government would see an increase in the revenue targets for both the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS).

Boko Haram abducts 30 teenagers in Borno

L-R: Legal Adviser, Bank of Industry (BoI), Mr. Emmanuel Onaji; Managing Director, Mr. Rasheed OlaOluwa; Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina and Permanent Secretary, Ministry of Agriculture and Rural development, Mrs. Ibukun Odusote, after the signing of Memorandum of Understanding (MoU) on rice production between the ministry and the bank in Abuja…at the weekend. PHOTO: TIMOTHY IKUOMENISAN

APC governors mobilise for Buhari CONTINUED FROM PAGE 5

the APC governors are sitting down to pick one candidate, is not telling the truth. The governors are divided in their opinions as Nigerians. That is all I can tell you. We are not making too much noise, when the time comes people will know who is who,” Atiku, who spoke through his spokesman, Mallam Garba Shehu, told New Telegraph. The former vice-president, however, dismissed reports that he could defect from APC if he lost the presidential ticket. “Atiku has said APC is the final bus stop, so we are not going to jump into any crisis concerning his political future,” Shehu said. Meanwhile, the APC has debunked insinuation that the party was formed to return power to the North.

The party’s National Secretary, Alhaji Mai Mala Buni, said APC had no Northern agenda. He said: “It is not about producing a northern or southern president. We want to produce a Nigerian president. We want to produce a president who will work for the country, sacrifice himself for the country and be selfless in discharging his responsibilities to the country and who will be acceptable to every Nigerian as an upright person who can fight corruption and bring development to the country. That is what we want and not about south or north. “We want to have somebody who will fight corruption because it is the major dent that is underdeveloping the country. We want somebody who can fight insecurity and

restore peace, harmony and tranquility in all communities. This is our hope and I don’t think we will now restrict this to either south or north. These are political boundaries.” On zoning of the presidency, Buni said: “APC is poised to give the best president who will be ready to address the problems militating against the development of Nigeria. This is our common problem and it is our common challenge. So, it is not about where the person comes from. “Let me tell you that the level of poverty and degradation and impoverishment in this country has no boundary of south or north, Christian or Muslim. “We are all suffering and nobody is left out. Everybody is desirous of change and that is why the APC is poised to pro-

duce the best president for this country.” As at today, all the presidential aspirants of the APC are from the North. The party is also in the process of amending its constitution. Asked if the amendment has to do with the party’s presidential primaries, the party said: “It is the processes. Anything that serves as impediment to any of our operations has to be looked into.” APC has been trying to get a system of primaries that would suit the party for its choice of presidential candidate. They are looking at indirect primaries, direct primaries and modified direct primaries. According to a source in the party, APC will amend its constitution to adopt a system that will agree with the provisions of the 2010 Electoral Act.

ome 30 teenagers, some of them as young as 11, have been abducted in a village in Borno by suspected Boko Haram rebels, a local village chief told reporters yesterday. “The insurgents... grabbed young people, boys and girls, from our region,” a report by Agence France Presse (AFP) quoted Alhaji Shettima Maina, who is in charge of the Mafa village, near Maiduguri, as saying. “They took all boys aged 13 and over... and all girls aged 11 and more. According to our information, 30 young people were abducted in the last two days.” Another village elder, Mallam Ashiekh Mustapha, confirmed the account. Both men said 17 people were also killed in recent days in a Boko Haram attack on the nearby village of Ndongo. Maina said his village and areas around it were targeted in nearly daily raids by Boko Haram, and many residents have fled to Maiduguri “for fear of being killed or losing their children”. He said he had pleaded for help from the Federal Government but that so far none had been forthcoming. The latest kidnapping

comes despite the Nigerian government declaring a truce with the insurgents and the army retaking control of Abadam in the north-east on Saturday, according to a senior security official in the region. Earlier this month the government and army had announced an accord with Boko Haram, whose insurgency has left more than 10,000 dead over the past five years. But on the ground in north Nigeria the truce has not taken hold as attacks have continued. The reported retaking of Abadam, near Lake Chad, from Boko Haram fighters could not be immediately confirmed by the Nigerian army and witnesses could not be reached as most of the inhabitants fled to neighbouring Niger when the Islamists had taken over the village. Also, Cameroun, where Boko Haram attacks have increased in recent months, said yesterday that it had pushed back three incursions Friday by Boko Haram in the country’s extreme north, including at the village of Glawi where four Nigerian refugees were killed and a Camerounian civilian was wounded by the Islamists.

News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

NATIONAL

Jonathan warns Amaechi against blackmail Anule Emmanuel

resident Goodluck Jonathan has warned Gover nor Rotimi Amaechi of Rivers State to desist from playing politics of blackmail and denigration of the office of the president. The President, in a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati, yesterday also warned that there are

legal, constitutional and moral limits to political rascality beyond which the Rivers State governor will not be allowed to go without repercussions. Jonathan said Amaechi took his obnoxious willingness to denigrate the highest office in the land in a reckless bid to advance his selfish political interests to a new level of irresponsible and rascally behaviour on Saturday in Port Harcourt. He described Amae-

chi’s claim as false and baseless vituperations against his office, that of the First Lady and the Federal Government. “It appears from the governor’s completely unfounded and off-themark allegations that he had totally lost all sense of propriety, decorum and responsible political behaviour and resorted to unacceptable demagoguery, libel, blackmail and incitement of public disorder.”

“Unless his unbridled ambition and desire for self-promotion have completely befuddled his mental faculties and caused him to totally lose touch with reality, Governor Amaechi must know that his claims and allegations are untrue. “We can only assume therefore that he is deliberately spewing malicious falsehood in a desperate effort to incite the people of Rivers State and Nigeria against his

L-R: Daughter of the Lagos State House of Assembly Speaker, Hon. Olaomopo Ikuforiji; Speaker and All Progressives Congress Lagos governorship aspirant, Mr Adeyemi Ikuforiji and his wife, Mayowa, during Ikuforiji’s declaration for the Lagos governorship in Lagos...

PHOTO: SULEIMAN HUSAINI

assumed political foes. “We warn him that there are legal, constitutional and moral limits to political rascality beyond which he will not be allowed to go without repercussions. “The immunity, which he currently enjoys notwithstanding, Governor Amaechi should be under no illusions: A day of reckoning will surely come when he will answer for all his actions and false allegations against President Jonathan, the First Lady and the Federal Government. “He should also know that Nigerians are aware of the truth and will never be fooled or swayed by his arrant opportunism and anti-Jonathan rantings. “Nigerians know that while Mr. Amaechi falsely accuses others of corruption, he cannot show or explain to the people of Rivers State, what he has done with the billions of Naira that has accrued to the state under his tenure.” Jonathan added: “They also know that while Amaechi continues to falsely accuse the Jonathan administration of having done nothing for Rivers State, he has recklessly squandered huge state resources on dubious, vain-glorious projects or self aggrandizement.

Polytechnic lecturers prepare for another strike Yekeen Nurudeen Abuja

he industrial crisis that recently ended in the Polytechnic education sector in the country may soon resurface. The Academic Staff Union of Polytechnics (ASUP) said it is re-strategising and re-considering available alternatives which include industrial action on seeking the way forward over its suspended 10-month old strike. The Federal Government is yet to meet the demands of the union even three months after the strike was suspended. The President of the union, Dr Chibuzor Asomugha, stated this in Abuja at the weekend, while speaking with journalists on the expiration of the three months relief period earlier requested by the Federal Government to sort-out key demands of the union. Asomugha, who said the three months expired on October 15, stressed that the strike option was the most glaring alternative, adding that the National Executive Council of the Union (NEC) would meet more on further deliberation.

Court hears SERAP’s suit against Lagos, Dec. 10 After intrigues, new NCAA DG resumes Akeem Nafiu Wole Shadare J A ustice Saliu Saidu of a Federal High Court in Lagos will on the December 10, hear arguments in a suit filed by a human rights group, the Socio-Economic Rights and Accountability Project (SERAP) against the State Governor, Babatunde Fashola, and the Attorney General and Commissioner for Justice, Ade Ipaye. The applicant is seeking information on the spending of $90 million loan given to the state government by the World Bank to develop the edu-

cation sector. At the last hearing of the matter before the court, SERAP argued that the government has failed to comply with Order 29, Rule 2 of the Federal High Court Rules of Procedure which requires an applicant challenging the jurisdiction of the court to first file a memorandum of appearance indicating a conditional appearance. However, the judge waived this requirement, relying on Order 51 of the Federal High Court Rules of Procedure waived the requirement and granted a motion dated 30th June,

2014 by the AttorneyGeneral for an extension of time within which the government would file preliminary objection, affidavit in support and the written address. Order 51 deals with effect of non-compliance with the rules, and grants the court the power to allow any amendment to be made and to make any such order dealing with the proceedings generally as it deems fit. The judge, while adjourning the case, asked Ipaye why the government has not provided the information request-

ed by SERAP to which the Attorney General said the government has already widely released the information to the media. The judge then asked why the government has not provided the information directly to SERAP, so as to see whether that can bring the case to an end. The Attorney-General, S.Y Kolawole, Director Civil Litigation and Olamide Ibrahim represented the government while Olukayode Majekodunmi and Oyindamola Musa-Oseni appeared for SERAP.

APC holds extraordinary national convention Wednesday Temitope Ogunbanke

he All Progressives Congress (APC) will on Wednesday, October 29 hold an extraordinary national convention in Abuja to approve amendments to the constitution of the party and also adopt its manifesto for the 2015 general elections. APC, in a statement issued in Lagos yesterday

by its National Publicity Secretary, Alhaji Lai Mohammed, said the proposed amendments when approved at the national convention, will align the party’s constitution better with the Electoral Act and also allow the APC to function more efficiently. It also noted that the convention would adopt the six-point manifesto that has been extracted from the

one submitted to INEC earlier for the purpose of the 2015 general elections. ‘’The manifesto to be adopted at the extraordinary convention of our party is specifically for the 2015 general elections. Because of shifting priorities, we do not believe that a party manifesto should be one for all time but a document that will adjust to the changing needs of the people.

“In this regard, we have conducted a survey to find out what Nigerians urgently need at the moment to raise their standard of living and ensure their security and welfare, which is the raison d’etre of any government. Based on the outcome of the survey, we have come up with a sixpoint manifesto, which we extracted from the one we submitted to INEC earlier.

fter weeks of intrigues on the appointment of a substantive Director-General of the Nigerian Civil Aviation Authority (NCAA), Captain Muktar Usman will resume today to take over from the acting Director General, Mr. Benedict Adeyileka. New Telegraph was told by a source from the Presidency that the office of the Secretary to the Government of the Federation had last week issued Usman an appointment letter, which was delayed for an unknown reason after the confirmation by the Senate over four weeks ago. The source, who spoke on condition of anonymity, said that the Director of Human Resources, A. Amadi had last Wednesday sent out an internal circular to all Directorates in the agency to prepare a handover note in preparation of resumption of Usman. Also, another circular was last Friday issued to all management staff for

a meeting at the agency’s headquarters at the Murtala Mohammed Airport, MMA, Lagos today at 11am. Commenting on the issue, the General Manager, Public Affairs, NCAA, Mr. Fan Ndubuoke, said that he was not aware of the resumption of Usman today, but confirmed that there were circulars to each directorate to prepare a handover note and a meeting for today for all management staff. He, however, said that the agenda for today’s meeting was not disclosed in the circular, but said that the purpose for it would be made known during the meeting. He said: “I don’t know if he would resume tomorrow (today), but what I can confirm to you is that there were two circulars last week, which advised each directorate to prepare a handover note and another one on Friday, which called for a management meeting tomorrow (today). “Nobody told us the agenda for the meeting, but we will surely be there.”

NEW TELEGRAPH monday, OCTOBER 27, 2014

Industrial unrest looms at ITF as new DG gets 21-day ultimatum Abdulwahab Isa Abuja

ewly appointed Director-General of Industrial Training Fund (ITF), Mrs. Juliet Chukas-Onaeko may experience her first baptism of industrial unrest as CEO of Nigeria’s capacity training organization following a 21 -day ultimatum served her by the unions, New Telegraph exclusively learnt. ITF unions Senior Staff Association of Communications (SSATAC) and Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Service Employees (AUPCTRE) in a memo dated 15th October addressed to Onaeko, decried sharp decline in the activities of ITF and demanded that urgent action be put in place by the management to arrest the trend, failing which the bodies would be left with the choice of embarking on strike. Inside sources at the Jos corporate headquarters of the organization, who spoke to New Telegraph on anonymous condition because of the sensitivity of the issue, said the union listed specific issues they want the new Director General to tackle as condition to stave off imminent strike. Listed as grouses in the ultimatum notice include, tactical relocation of ITF operation headquarters from Jos in Plateau State to Abuja, a development that warrants Directors, who are in Jos to constantly be on the road to Abuja with files that need urgent attention of the Director General, pile ups of unpaid five per cent reimbursement training levy fees to companies and outsourcing of ITF schedules to consultants. New Telegraph learnt that the Director General’s preference to function from Abuja office is taking huge toll on operation in Jos corporate headquarters of ITF, a development that is almost grounding the Jos office to a halt. The development , the source said, has made Directors, whose office are in Jos to be shuttling between Abuja and Plateau to see their boss. The second issue the unions want the Director General to address is training reimbursement to firms.

News

national

Mimiko’s defection stirs crisis

Onyekachi Eze ABUJA

arely three weeks after the defection of Governor Olusegun Mimiko of Ondo State from Labour Party to the Peoples Democratic Party (PDP), crisis is brewing in the state chapter of the party. Before the governor was formally received into PDP by Vice President Namadi Sambo on October 2, the State Working Committee

104

(SWC) had asked the Federal High Court in Abuja to restrain the national leadership from dissolving the state executive. But yesterday, PDP announced the dissolution of PDP Ondo State chapter. In a statement signed by its National Publicity Secretary, Olisa Metuh, the PDP announced that “all structures of the party at the ward, local government and state levels stand dissolved”.

The sex ratio of women to 100 men in Sierra Leone in 2012. Source: Un.org.

Metuh further stated that a caretaker committee headed by Hon. Dare Adeleke with Hon. Dare Solomon Osawu as secretary has been constituted to pilot the affairs of the party. “We enjoin all members of our great party in Ondo State to continue to work together in harmony, even as we are confident now, more than ever before, of our total domination of Ondo politics especially

N17.2m

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

with the rejoining of our political family by the hardworking Governor of Ondo State, His Excellency, Olusegun Mimiko,” the statement added. It was gathered that the dissolution of the state executive is to allow the governor to choose members of the party leadership who will be loyal to him. PDP’s Organising Secretary in Ondo State, Afolabi Akinbowale, had earlier disclosed that at a meeting pre-

48.8%

The percentage of the urban population of Bosnia and Herzegovina in 2012. Source: Un.org

sided over by the President of the Senate, David Mark, who is chairman of PDP Integration Committee for South West, the governor had requested to be allowed to produce the chairman, secretary, treasurer, publicity secretary and organising secretary, which the other group rejected. Akinbowale stated that the negotiation between them and the governor broke down because he refused to shift ground.

2.1m

The number of people dying from AIDS-related causes worldwide in 2003. Source: Who.int

L-R: Former Governor of Ebonyi State, Dr. Sam Egwu; Mrs. Joel Ama Orji; Chief Executive Officer, The LILYGATE Lagos, Chief Julius Ama Orji; Secretary to the Government of the Federation, Chief Anyim Pius Anyim; General Manager, The LILYGATE Lagos, Mr. Ronald Stilting and Chief Anya O. Anya, during the commissioning of The LILYGATE Lagos in Lekki, Lagos…yesterday. PHOTO: SULEIMAN HUSAINI

Okorie: PDP, APC can’t fight corruption change

UPP leader sees corruption in PDP, APC and wants Nigerians to chart a new course Charles Onyekwere ABAKALIKI

he National Chairman of United Progressives Party (UPP), Chief Chekwas Okorie, at the weekend said neither Peoples Democratic Party nor the All Progressives Congress has the capacity to fight corruption, saying that both are made up of corrupt politicians. Okorie stated this in Abakaliki, Ebonyi State capital during the inauguration of the newly constituted executive members of the party in the state. He noted that politicians in PDP and APC are

the same people, who put the country’s politics and economy in coma. Okorie explained that the UPP will provide Nigerians the option of remaining the way they are by voting PDP or APC and the option of a change by voting the UPP in 2015. He assured that if Nigerians vote for UPP in the next year’s election, the government led by the party will wipe out corruption in the country, stressing that UPP has no corrupt politicians in its leadership. He noted that UPP is a progressive platform that is mobilizing all the progressive forces against the reactionary forces of PDP and APC, as according to him,” PDP and APC are two sides of the same coin”. His words: “Nigerians should expect political party that can fight corruption like no other. PDP and APC cannot fight corruption.”

CJN urges female judges to shun corruption Tunde Oyesina Abuja

hief Justice of Nigeria, Justice Mariam Aloma Muhktar, has urged female judges to stay above board as far as corruption was concerned and also maintain a high level of humility in discharging their responsibilities. This was just as the first female Senior Advocate of Nigeria, SAN, Chief Mrs. Folake Solanke, made a case for financial independence for the Nigerian judiciary, especially at the state levels. The CJN, who gave this charge on Friday at the 2014 Annual National Conference and National Glow Conference of the National Association of Women Judges held in Abuja, scored women judges 95 per cent, adding that women judges in the country, compete favourably with their male counterparts.

She noted that the National Association of Women Judges, Nigeria, with the membership at about 397 now, started with only 25 members when the association was conceived and brought into fruition. She further stated that she was instrumental to the setting up of the association when she was newly appointed Justice of Supreme Court. Speaking on the financial autonomy for the judiciary, Solanke who was the guest speaker at the conference said she is always embarrassed whenever she sees pictures of Chief Judges of states bowing down to state governors. She, however, stressed that the executive, judiciary and the legislative arms of the government share the same statutes under the 1999 constitution, as amended and further noted that, she does not see any reason why a Chief Judge of state should bow to the state governor.

Nigeria to host 2015 World Schools Debate Yekeen Nurudeen Abuja

ollowing the participation of Nigerian contingent in the World Schools Debate in Bangkok this year, Nigeria has been granted the right to host the 2015 edition of the competition. According to the Coordinator of President’s School Debate, Mr. Dare Oritu, Nigeria won the hosting right due to the brilliant performance of Nigerian students, in Bangkok. He disclosed this in Abuja at the weekend during a press briefing to announce the commencement of 54th Independence Anniversary School Debate, which holds between October 26 and 30 in the Federal Capital Territory (FCT). “Our performance at the last World Debate School Championship has given Nigeria the right to host the next International Debate.”

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Metro

Keep money at home, robbers write Lagos residents AUDACITY Suspected robbers tell residents to expect them and keep enough money handy, boasting that nobody can stop them Taiwo Jimoh

ear has gripped the people of College area, Igando Road, Ikotun, Lagos State over threats of invasion of the area by armed robbers. Some people, believed to be robbers, on Thursday sent threat letters to people, warning them to keep “enough” money at home. The letter, written on an A4 paper and pasted at strategic places in about 15 streets, was noticed by the residents when they woke up on Thursday morning. Our correspondent learnt that the people called the attention of the executives of the landlords’ associations to the letter. The associations, in turn, reported the matter at Igando Police Division. In the letter, the robbers advised the residents to be prepared to ‘entertain’ them as they could come at any time. It reads in part: “Be pre-

pared, be prepared, be prepared. Our dues must be paid this festive season. Nobody can stop us. “We can strike at any time. Only enough money can save your life. To be forewarned is to be forearmed.” Speaking with our correspondent, one of the executives of the landlords’ associations, who craved anonymity, said the robbers also dispatched the letter to neighbouring areas such as Pako and Irepodun. Another landlord, who identified himself simply as Mr Sikiru, showed our correspondent the dilapidated fence of a government primary school in the area which the robbers allegedly used as a hideout. Sikiru urged the Lagos State Commissioner of Police, Mr Kayode Aderanti, to come their rescue. He said: “Since the day we got the letter, we have not been able to sleep with our two eyes closed in all the 15 streets which they sent the letter to.” When our correspondent got to the premises of the primary school, the fence had been broken through in several places, while a section of the compound had an uncompleted building overgrown by bush. It was also gathered that some of the residents have started moving out of the

Ex-militants protest non-payment of salaries, block road Joe Obende Warri

The letter

area for fear of being caught unawares by the robbers. Mr Babatunde Ogidan, one of the residents, said: “I and my family have decided to relocate to my younger brother’s house at Iyana-Iba to avoid being caught unawares. “What the robbers wrote in their letter was that it is only enough money that can save our lives. In case they come and I don’t have enough money, what will be the fate of my family?” The state Police Public Relations Officer (PPRO), DSP Kenneth Nwosu, said he was still consulting with the DPO in Aderanti charge of the area. Nwosu promised to call our later, but he was yet to do so at correspondent on the matter press time.

rate former militants at the weekend barricaded the DSC-NPA Expressway by Ughelli Junction roundabout in Effurun, Uvwie Local Government Area of Delta State to protest the non-payment of their two months’ salaries and allowances by the Federal Government. The militants arrived the area in a Marcopollo luxury bus at 8:30am. They made use of disused tyres and other junks to stop the flow of traffic on the ever-busy expressway. This led to gridlock, which lasted for many hours. Spokespersons for the protesting group, Kenneth Ebi and Perez Ebi, told journalists that they were former militants drawn from across the Niger Delta Region undergoing apprenticeship programmes in welding and fabrication in Warri. The protesters alleged that the Federal Government had failed to pay their salaries, feeding and accommodation allowances in the last two months, leaving them hungry and stranded in the hotel they had been staying in the last eight months. The hotel bill, according to them, runs into several millions of naira. They also claimed that efforts to get across to the Amnesty Office in Abuja were futile. However, armed security agents persuaded the former militants to leave the road after about two hours.

Personal hygiene will check Ebola, says Fashola’s aide Muritala Ayinla and Cephas Iorhemen

he Lagos residents have been advised to work harder to improve environmental sanitation and hygiene to avert the recurrence of Ebola Virus Disease (EVD) and outbreak of epidemics. The Special Adviser to the governor on Environment, Dr Taofeek Folami, gave the charge while monitoring this month’s edition of the monthly environmental sanitation exercise in Bariga Local Council Development Area. This is as about 50 people

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

l50 convicted for environmental offences in Benue were at the weekend convicted by the Special Sanitation Court in Makurdi, Benue State for violating sanitation laws. The General Manager of Benue State Environmental and Sanitation Authority (BENSESA), Mr Ediga Akpa, who briefed journalists after the exercise, disclosed that about 1,000 violators of the sanitation laws were arrested and prosecuted since the beginning of the year. In Lagos, Folami said that the only way to remain Ebola-free nation was to maintain good personal hygiene. Urging the residents not to relent in their efforts to remain healthy always, the special adviser said that by doing so, they would be contributing to the reduction of disease burden in the country. Folami, however, decried the indiscriminate dumping of refuse into canals, saying such

habit usually comes with health hazards and capable of frustrating efforts to contain EVD permanently in the country. He said: “The reason the residents give for the refuse in their canals was that the water current brings the refuse to their community. We know that the refuse do not get into canals without the human factor. And that was why we have decided to strengthen our advocacy exercise to ensure that the residents desist from this act. “At the moment, some of the canals are under repairs but we have appealed to the residents to desist from dumping refuse into canals because when the community gets flooded, it will affect everyone.” In Benue, Akpa explained that those arrested and prosecuted were found wondering about, idling away and keeping filthy environment while the exercise was on. He said the convicts were made

Some Lagos State government officials inspecting blocked canal on Saturday

to pay between N2,000 and N3,000, depending on the gravity of the offense and warned that the agency would always catch those in the habit of defaulting the law. The BENSESA GM, however,

commended the residents of North-Bank and Ankpa settlements for their compliance. Akpa urged the residents to always keep their environment clean, to avoid outbreak of diseases.

News 11

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Police arrest suspected robbers, rapists

Lagos begins distribution of inputs to 3,149 farmers Muritala Ayinla

The suspects

Adesina Wahab Ado-Ekiti

olice in Ekiti State have arrested two serial rapists and armed robbers who invaded a GSM accessories’ outlet and stole goods worth about N5 million. The state Commissioner of Police, Mr Taiwo Lakanu, who paraded the suspects before journalists in Ado-Ekiti on Friday, said his men also foiled a robbery operation at Olorunsogo area of the state capital. Lakanu said the men of the underworld invaded a firm, Card Mega System Limited, at Ilawe-Ekiti on August 22, and stole recharge cards worth

Weapons recovered from the suspects

N4.1 million. He said upon receiving a distress call, operatives of the Special Anti-Robbery Squad went after the robbers, engaged them in a gun duel and recovered part of the stolen goods. The commissioner said items like Toshiba Laptop Computer and GSM phones valued at N178,000, were stolen during the operation. He said: “My men also approached the telecommunication company to block the remainders that are yet to be recovered to prevent unsuspecting members of the public from using them.” The police also paraded one Akinsola Faleye for robbery.

He was recently released from prisons having been sentenced to jail for robbing one Victor Yusuf at Ajilosun area of Ado-Ekiti. The commissioner said Faleye would be charged to court soon. He added that his men foiled a robbery operation with the aid of a vigilance group at Olorunsogo in Ado-Ekiti on September 4 during which one Femi Abegunde was arrested after robbing some victims of N662,000, jewellery, phones and Automated Teller Machine (ATM) cards. Lakanu said that the police also arrested and detained one Abraham Kayode, 35, for allegedly defiling an

eight-year-old primary three pupil on September 28, under the guise of sending her on errand. He said that investigation showed that the suspect was a serial paedophile. In similar way, the command also arrested one Shuaibu Ojo in Emure-Ekiti on October 12 for allegedly breaking into a residential building and raping a 17-year-old girl. Lakanu promised to make the state a ‘no-go-area’ for robbers and criminals in compliance with the directive of the Inspector General of Police, Suleiman Abba, that lives and property of Nigerians must be protected.

Don’t ban motorcycles, Obi warns FG Tony Okafor Awka

ormer Governor of Anambra State, Mr Peter Obi, yesterday appealed to the Federal Government not to ban commercial motorcycles otherwise known as Okada or Achaba. Obi said the socio-economic indices in the country did not support the ban of Okada as a means of transportation in parts of the country, especially Anambra State. The former governor, who spoke with some journalists yesterday at a function at Igboukwu in Aguata Local Government Area of Anambra State, was reacting to the plans by the Federal Government to ban the use of motorcycles for com-

mercial purposes. The National Council on Transport made the proposal to ban Okada after its annual conference in Enugu State and endorsed by the Minister of Transport, Idris Umar. The Federal Ministry of Transport said in a statement at the weekend that the ban was one of the measures to ensure adequate provision of safety and secure transportation in the country. But Obi, who said that he was under pressure to ban Okada when he was the governor, explained that he always considered the socioeconomic implication of policies and actions before taking them. He said: “I agree that Okada contribute to crime, but we

Some commercial motorcyclists

must also accept that many of them (riders) are also good people and we cannot punish the multitude because of the sins of a few. We cannot, for example, seek the closure of a market because a few sell fake products in the market.”

The former governor said that what would be needed would be to strictly monitor Okada riders, adding that under his administration, a law limiting their operations to certain hours of the day was passed.

agos State Government has started to distribute inputs to 3,149 farmers to boost food production under the Agricultural Value Chains Empowerment. Governor Babatunde Fashola had during the World Food Day announced the empowerment of 3,149 residents, comprising youths, traders and farmers with farm inputs and produce. Presenting the inputs at the Fish Farm Estate, Odogunyan in Ikorodu, the Commissioner for Agriculture and Cooperatives, Prince Gbolahan Lawal, said no fewer than 747 people would receive their inputs in the areas of fishing, piggery, sheep and goat, egg marketing, feed mill, poultry feed, fish feed, cassava, aquaculture, rice, pepper soup, fish marketing, coconut, vegetable, horticulture and butchery in Ikorodu. Lawal ad d ed Fashola’s administration had promised to reduce poverty by ensuring that the programme became an annual event. The commissioner disclosed that the state had been zoned into four redemption centres for easy access of the beneficiaries. He said: “These four centres are Mowo in Badagry Division where 320 people benefited from the empowerment programme, Odogunyan, Ikorodu where 747 people comprising of individuals and groups received their inputs and produce in all the enterprises.” Lawal hinted that

the redemption would continue next week at Araga, Epe, where beneficiaries who chose that location would receive their inputs followed by Agege. The commissioner added that there were extension officers who would be available to give professional advice when necessary. “Government will also follow up on the progress of the inputs and produce received to assess the impact on the beneficiaries,” he added. A beneficiary, Bose Oyesanmi, who was given 50 creates of egg, she had been adequately empowered. She said: “I will never forget what happened here as I have no job but with the 50 crates of egg I collected, government has given me a good business. I thank God.” Another beneficiary, Juwon Owoade, who spoke on behalf of the Ayegbami Fishermen Cooperative Society, said it was not easy to buy the 40 HP Waterman outboard engine given to his society. He commended the government for the initiative. Also, Alhaji Taliat Lawal, chairman, Butchers’ Association in Ikorodu said, with the cattle and accessories given the association, all his members would adhere strictly to the best practices. Mr Ola Iroko, a farmer in Badagry, said: “I am happy today because I know with this empowerment, my farm produce will increase and I will need to get more farm hands to assist me on the farm.”

Mimiko, others sued for Ondo monarch’s installation Babatope Okeowo Akure

he dispute over the installation of Gen. Olufemi Olutoye (rtd) as Alani of Idoani in Ose Local Government Area of Ondo State deepened at the weekend. The only ruling house in the community sued the government and some traditional chiefs over Olutoye’s coronation. The 83-year retired gen-

eral has been installed as the Alani of Idoani years after the stool became vacant. The Secretary to the State Government (SSG), Dr Rotimi Adelola, who performed the installation, said it took place after all the contending forces in the community and the nine of the 15 kingmakers agreed on Olutoye. But prominent traditional chiefs and members of the ruling house took Governor Olusegun Mimiko, the

state Attorney-General and Commissioner for Justice, Eyitayo Jegede and 10 others to an Owo High Court over Olutoye’s appointment as the Alani of Idoani. The traditional chiefs, including Chiefs Samson Aladetoun Ologbosere, Musa Sadibo, David Adetola Owusi and Prince Jackson Agunloye Falade, who filed the suit, claimed that they represented the sole ruling house of Obasunloye in Ido-

ani and that Olutoye had no right to the stool because he was not one of them. Apart from the governor and the Attorney-General, other defendants include the commissioner for local government and chieftaincy affairs, the secretary of Ose Local Government and Olutoye. Joined were seven traditional chiefs of the town such as David Ojo (the Alasan), Gbenga Ajana (the Ajana), Soji Ajayi

(the Ohunoron), Michael Oluka (the Oluka), Sunday Oludosi (the Oludosi), Adelana Gideon (the Asewa) and Kehinde Oshodi. The statement of claims listed 62 paragraphs in which the litigants explained the factors that are against Olutoye’s claim to the throne and prayed the court for a declaration that the a letter dated 16th September, 2013 written and signed by one High Chief Samson Olog-

bosere did not emanate from the ruling house. The 10-paragraph prayers also sought a declaration that any process that emanated from the letter, which they claimed was forged, should be deemed “illegal and invalid to the level of its illegality and for being grossly contrary to the Chiefs Law of Ondo State, customs and tradition and Declaration on Alani of Idoani Chieftaincy.”

News

monday, OCTOBER 27, 2014 NEW TELEGRAPH

south — west

Lagos multi-door Courthouse begins settlement week with 200 cases Akeem Nafiu

he Lagos MultiDoor Courthouse (LMDC), will today begin its pilot District Settlement Week with about 200 cases from the Igbosere Magistrate Court. The five-day exercise is meant to use Alternative Dispute Resolution (ADR), mechanism to resolve disputes on con-

11%

tract, debt recovery, property, landlord and tenant, defamation, family matters among others. Already, seasoned mediators have been carefully selected to mediate on the cases and about ten cases are expected to be settled per day. According to the LMDC Director, Mrs. Caroline Nene Etuk, the Pilot District Settlement Week would give partici-

The percentage of the population of Hong Kong, China under 15 years in 2012. Source: Un.org

pants opportunity to explore settlement of their disputes not merely by negotiations with one another, but by the intervention of skilled mediators. She stated that parties in the cases slated for hearing have already indicated willingness to be part of the exercise adding that it was part of measures to bring ADR to the grassroots. Mrs. Etuk said that

562m

The number of fixed-telephone subscriptions of developed countries in 2009. Source: Itu.int

the District Settlement Week was also meant to encourage early settlement of cases that are pending at the Igbosere Magistrate’s Court. She revealed further that the exercise would soon be extended to Ikeja, Yaba, Ebute- Meta Magistrates courts among others. ‘’The parties are not deprived of their day in court. In the event of non-settlement, the matter is returned to the

5.23m

The total population of Eritrea (rep. 0.076% of world’s population) in 2010. Source: Blatantworld.com

court’s docket and the parties are at liberty to continue with the case in court and because the mediation process is conducted confidentially and without prejudice, neither party is prejudiced by the mediation process”, she added. Besides, she stated that the primary objective of the week-long event is to provide access to justice at the grassroots through a definitive reduction of

41,290

The total area (in sq. km) of Switzerland. Source: Worldfactsandfigures.com

the case load of the courts within a specified time. She added that the LMDC provides services for disputants in various areas of law including commercial, employment and contract, maritime, matrimonial and energy using ADR mechanism such as mediation, arbitration, conciliation, early neutral evaluation and hybrid process. The Lagos Multi-Door Courthouse (LMDC) was established on June 11, 2002, as a public-private partnership between the High Court of Justice, Lagos State and the Negotiation and Conflict Management Group (NCMG). Its objective is to facilitate dispute resolution within the Nigerian Justice System. It is the first court-connected Alternative Dispute Resolution Centre in Africa. Section 3(1) of the Lagos Multi-Door Courthouse empowered the Chief Judge of Lagos State to designate a week in which disputants, lawyers and neutrals would engage in the settlement of disputes through the deployment of ADR mechanisms.

Kayode Williams joins Lagos guber race Wale Abiodun Ogun State Governor, Ibikunle Amosun and his wife, Olufunso, acknowledging cheers from a large crowd of supporters at Ita Iyalode, Owu, Abeokuta North Local Government on the final day of his assessment tour of the 20 local government areas in the state…at the weekend

Fayose explains ‘stomach infrastructure’ concept food

It is not all about food, stomach infractructure is also structured on well being Adesina Wahab ADO-EKITI

kiti State Governor, Ayodele Fayose has explained the concept of ‘stomach infrastructure’, describing it as going beyond establishing soup kitchens or doling handouts to the poor. Fayose, who spoke through his Special Assistant on Information and Civic Orientation Mr Lanre Ogunsuyi, in AdoEkiti on Sunday, noted that the ‘novel idea’ was a total package for the wellbeing of the less privileged in the society. Ogunsuyi said: “Even the Holy Book enjoins us to be our brothers’ keeper, we are not talking about

having soup kitchens here and there, even if we do, it is only a part of the exercise. In advanced countries, they have such things for the poor. “However, what we are working on is a total package including the health needs of the people. A man is not only poor by the lack of the three basic needs of life such as food, shelter and clothing, sickness can also render a man poor.” According to him, “The need for societies globally to eradicate or at least alleviate poverty cannot be over-emphasised and that is why the United Nations declared October 17 of every year the International Day for the Eradication of Poverty. “This administration is placing emphasis on making food abundant and that is why agriculture will be accorded top priority.” Shelter is another vital area and that is not new to Fayose. During his first term in office, he built housing estate and other structures in that respect.

Ogundipe: We will re-position PDP in South-West Adesina Wahab ADO-EKITI

he newly-elected South-West National Vice-Chairman of the Peoples Democratic Party (PDP), Chief Makanjuola Ogundipe, has said his team will re-position the party in the geo-political zone to record sound electoral victory in next year’s general elections. Speaking in Ado-Ekiti on Sunday on the recent

election of new zonal leaders of the party, he promised that the new leadership will run an all inclusive administration, that would take it to higher heights. Ogundipe, who was the state chairman of the PDP when the party overwhelmingly won the governorship election in Ekiti State last June, said the resurgence of the party had begun with the Ekiti victory. “We did not perform poorly in the Osun gov-

ernorship poll that followed that of Ekiti and we are all aware of our opponents electoral underhand game which is being looked into by the electoral tribunal . “I am happy that our members and leaders across the zone have seen the need to work together as a team and they are closing ranks. Everybody can see that our mega rally in Abeokuta, Ogun State, is already unsettling the APC, .

LAUTECH CMD wants alternative to health sector’s strikes Adeolu Adeyemo OSOGBO

he Chief Medical Director, Ladoke Akintola University of Technology (LAUTECH), Teaching Hospital Osogbo, Prof. Solomon Olufemi Fadiora, at the weekend suggested that there should be an alternative to industrial actions in the nation’s health sector to avert pre-mature death usually associated with

such incidents. Fadiora, gave the suggestion while delivering a keynote address at the opening session of the National Regular Meeting of the University Teaching/ Specialist Hospital Trade Group Council meeting hosted by Non_Academic Staff Union (NASU) LAUTECH Teaching Hospital Osogbo branch. He argued that, strike should be minimised or prevented if possible because, it leaves tales

of woes behind for beneficiaries of health care services who invariably become innocent victims. Prof. Fadiora stated that the principle of mutual human rights implies that, those who benefit from the services rendered by any group of workers deserve to be taken into consideration before industrial actions are embarked upon especially in critical services such as medical care and its ancillaries.

nited Kingdom based security consultant, Alhaji Kayode Williams has joined the Lagos 2015 governorship race on the platform of Peoples Democratic Party (PDP). He disclosed his ambition over the weekend in Lagos at a press briefing. He stated that he decided to join the race to effect positive change. “I am a grass root politician and very versatile with the grass root. My mission for joining is to uplift the standard of things in Lagos State that demand change and that is what I am going to implement if I am elected as the governor. I am determined to improve the standard of living improve infrastructure, education, health care and implement sound welfare programmes. I crave to be the governor of Lagos State just because I want to improve Lagos State. I assure you that a vote for me is a vote for the improvement of Lagos”, he said. Williams, added that he stands a good chance because Lagosians are fed up with the current style of administration in the state.

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Anambra

2015 polls

Battle for Imo

APGA’s future without Obi

Ex-governors come to Senate for protection –Nwagu

APGA polarised over endorsement

Politics

Decision time for APGA The 2015 general election will determine the continued existence or otherwise of the All Progressives Grand Alliance (APGA), which at inception raised the hope of an alternative political platform for the people of the SouthEast who have continually cried marginalisation in the major political parties, writes FELIX NWANERI

he battle for the soul of the South-East in the forthcoming general election promises to be an interesting one as three political parties – Peoples Democratic Party (PDP), All Progressives Congress (APC) and All Progressives Grand Alliance (APGA) – square up for the various elective positions in the five states that make up the zone. Unlike in the other five geo-political zones, where the polls are likely to be two-horse races between the ruling PDP and main opposition party, APC, elections in the South-East in 2015 will have a third force in APGA. APGA and PDP were the dominant parties in the zone with the former having three states (Abia, Enugu and Ebonyi), while the latter had two states (Anambra and Imo) until the defection of the Imo State governor, Rochas Okorocha, to the APC, last year. Okorocha’s action, some analysts say, has opened the window for the APC’s “broom revolution” to sweep across the Niger. And ahead of the elections, the governor has vowed to win the zone for the party. To him, the APC is not only a formidable platform that will enthrone good governance at all levels, but the fastest political vehicle for the realisation of a Nigerian president of Igbo extraction. The PDP on its part believes that 2015 is the time to reclaim the two states out

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

Ojukwu of its grip – Anambra and Imo, though governorship election would not be holding in the former. To chieftains of the party in the zone, the South-East has always belonged to the PDP and 2015 provides the opportunity for all the states in the zone to return to the “big umbrella” and in turn, mainstream politics. The optimism and strength of the PPD and APC, notwithstanding, APGA is resolved to consolidate its stronghold in Anambra and possibly expand frontiers to sister states. Anambra State governor, Chief Willie Obiano, who expressed the optimism recently, declared that APGA will sweep the polls in the zone in 2015. “We are working towards winning the five states in the South-East to ensure that APGA flies in the whole of the zone,” he said. The party’s national chairman, Chief Victor Umeh, who expressed the same confidence, said APGA will ensure that it reclaims Imo State and go ahead to win other states in the South-East. While many believe that the three parties will be going into the contest on equal strength given the structures they have on ground, a few pessimists insists that APGA will only make up the number. To members of this political school, the party’s fortune has dwindled with the losses it suffered recently, especially the defection of the immediate past governor of Anambra State, Mr. Peter Obi and four

Umeh members of the House of Representatives. Another factor that may work against the party, they said, is the “alliance” between the PDP and APGA that will see the latter not fielding a candidate for the presidential poll as it did in 2011. The argument is that APGA is likely to witness the near dismal performance it recorded in Anambra in the last general election despite being the ruling party in the state because Obi was engrossed with the campaign of President Goodluck Jonathan. While it was possible for the former governor to mobilise about 99 per cent of votes in the state for President Jonathan and the PDP in the presidential poll, APGA was unable to garner up to 50 per cent for itself in other elections, losing the three senatorial seats in the state to the PDP and the defunct Action Congress of Nigeria (ACN). Despite the criticisms over the former governor’s action then, the support was however not a failed venture for APGA, as it paid off in the November 2013 governorship election, which Obiano won. Many still insist that APGA had an unwritten understanding with the PDP for the prosecution of the poll, and that it was the pact that informed the uninspiring support by PDP’s national leadership to the party’s candidate in that election, Mr. Tony Nwoye.

Part of the deal, it was further alleged, was to cede some senatorial and House of Representatives’ seats to APGA in the 2015 elections in order to get the party’s support for the second term bid of President Jonathan. Already APGA had adopted Jonathan as its candidate for the 2015 poll. But Senate President David Mark recently dismissed any deal between the two parties. “There is no such deal with any opposition party anywhere. Nobody should deceive you into believing that PDP has an agreement with any opposition party. PDP has a manifesto and only elected PDP candidates can implement it,” he said while addressing PDP stakeholders in Nteje, Oyi Local Government Area. APGA must also surmount the lingering leadership crisis over who controls the party at the national level. The tussle has not only taken a toll on the party’s fortune, but almost spelt its doom. So the Umeh and Maxi Okwu-led factions must sheathe their swords to pursue a common goal if the party is to realise the set target in the 2015 elections. As it is, the party is only strong in two states – Anambra and Imo – out of the five in the South-East. In Ebonyi, Abia and Enugu, APGA is near non-existence. Yet the party, according to Obiano, wants to sweep the South-East in the 2015 general election.

Politics

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

decision time for APGA

Anambra: APGA’s future without Obi TONY OKAFOR writes on the future of the ruling All Progressives Grand Alliance (APGA) in Anambra State with the defection of the former governor of the state, Mr. Peter Obi

he exit of former governor of Anambra State, Mr. Peter Obi, from the All Progressives Grand Alliance (APGA) to the Peoples Democratic Party (PDP) is a devastation. For some people, the development could result to the end of the party. The National Publicity Secretary of the PDP, Chief Olisa Metuh, on receiving Obi into the party had said: “Your Excellency, we must confess that we had been losing election in Anambra State to you and not APGA, because of what you worth. Now that you have joined us, Anambra State will return to PDP.” Kodilichukwu Okelekwe, a senatorial aspirant in the state on the platform of the PDP, puts it this way: “Now that Anamba PDP is united APGA, is finished.” Anambra before 2003 was a PDP state weaved around Dr. Alex Ekwueme, the former vice president. But from the moment Obi became governor in March 17, 2006, the trend changed and remained so till Obi left office on March 17, 2014 after serving eight years.” Through Obi, APGA became a household name, but hope is not lost over his defection, as the national chairman of APGA, Chief Victor Umeh, recently observed that: “APGA is like a religion. Can

Obiano

Obi

Christianity die? Can anyone kill Islam? So, APGA has come to stay in the South East. Even if I leave today as the national chairman of the APGA, the party will continue to wax strong. No one person has the capacity to destroy this party. ” Umeh may be correct by describing APGA as a creed. When vicissitudes and frustrations visited the party in its political journey, her members persevered even amidst obvious lack and want, wearing worn out party uniforms to meeting all to sustain hope and identity. In fact, there is this saying that those who foment trouble in APGA were not “aboriginal” party members. Truly, the “virus” that is devastating APGA was somewhat introduced into the party when people who had kindred consanguinity and affinity with the PDP were given automatic tickets to vie for various political positions in APGA in 2011 general election. Prominent among

them were Uche Ekwunife, Joy Emordi, and Chuma Nzeribe. All of them had jettisoned the party. The reality is that the future of APGA is in the hands of the incumbent governor of Anambra State, Willie Obiano, who has three years plus as governor in the first instance, and another four years if he sustains the momentum. This is so because in a few months, the tenure of the national chairman of APGA, Umeh, who has shown demonstrable commitment and doggedness to keep the party alive, will come to an end. The APGA boss is currently prosecuting his senatorial election. This development, observers say has placed the fate and leadership of the party on Obiano’s hands. Peterson Okeke, an APGA House of Assembly aspirant argues thus: “I feel irritated if some people talk about Obi’s defection to PDP. For me, Obi has respected the wish of Ojukwu by sustaining APGA

Ebonyi: No functional structure The All Progressives Grand Alliance (APGA) has resigned itself to fate in Ebonyi State with no indication that the party is prepared for the 2015 general election. CHARLES ONYEKWERE reports

ew months to the 2015 general election, the leadership crisis rocking the Ebonyi State chapter of the All Progressives Grand Alliance (APGA) is far from over. Against this backdrop, the party, like other parties has no state executive and structure on ground throughout the 13 local government areas of the state. Ahead of the general election, the party has not been engaged in any political activity and has not started preparing for campaigns. New Telegraph ’s findings in Ebonyi State revealed that no political posters of any aspirants in the state have been seen in any of the three senatorial zones of the state including that of the governorship, Senate and House of Representatives’ seats. Only recently, a onetime senator who represented Ebonyi North in the National Assembly, Senator Anthony Agbo resigned from the Peoples Democratic Party (PDP) and joined APGA for the governorship race.

Agbo, who made his intention known while briefing newsmen at his hometown, Mgbo in Ohaukwu Local Government Area of the state, said that APGA provided him the veritable platform of realising his gubernatorial ambition. Similarly, another aspirant who also, declared for the senatorial seat of Ebonyi Central, is a university don, Prof. Bernard Odoh on the APGA platform. Odoh said APGA remained the party to beat in Igbo land and also, the only platform with Igbo aspiration and ideology. The aspirant teaches Geophysics at the Nnamdi Azikiwe University, Awka,

Agbo

Anambra State. As at today, none of the aspirants on the party’s platform have purchased expression of interest and nomination forms in readiness of the election. New Telegraph learnt that APGA has no functional state office in Abakaliki, the state capital. The factional leader of the party in the state, Comrade Jerry Obasi claimed that the party has an office at No. 37 Ogoja-Abakaliki road and another one on Afikpo road. But a visit by New Telegraph to the purported two offices proved Obasi wrong as nothing to that effect. To make matter worse, the national chairman of APGA, Chief Victor Umeh is not in good terms with Obasi. A cross section of people who spoke with our correspondent said the chances of the party to win any seat in the state is in doubt. A youth leader, Comrade Chisom Nwali said that a party that is not on ground cannot win an election, adding that since the beginning of the year, nobody has heard about APGA talk of winning the poll. A woman leader, Lady Ifeoma Nwachukwu blamed the national leadership of the party for the crisis. With less than four months to the general election, there is no indication that APGA is ready for any electoral contest in Ebonyi. The state is purely a Peoples Democratic Party (PDP) state and may remain so beyond 2015.

for nearly 10 years now. He has not only finished the race, he has won the battle and successfully handed over the baton to an APGA government. It is now for Obiano to keep the candle on.” Though Obiano had at several fora vowed that APGA would remain unbeatable in Anambra, nay South-East in the next elections, some people have dubbed him “one term governor.” People holding this view say the way the governor is hobnobbing with certain politicians that were literally retired by his predecessor (Obi) is dicey. “Some of these politicians killed this state. Today, they are our governor’s best friends. For me, this is like the return of the locusts an before the governor would realise it, they would have pulled the carpet off his feet,” Lawrence Njepuo submitted. Despite all these, APGA has good reasons to sustain its lead in Anambra if the right things are done during its primaries because most contestants on the platform of the party are what it takes to ensure victory for the party. They include Dubem Obaze, Afam Ogene, Victor Umeh, Okey Udey and many others. That is not to say, it will be and easy task. Recently PDP stalwarts have rekindled hope and commitment to take over the state. Oil moguls such as Chief Arthur Eze and Sir Emeka Offor are leading the forces determined to make a change. In 2015, APGA is not pursuing any governorship election until 2017. Already, the party has declared that it would back President Goodluck Jonathan in the February 14, 2015 presidential poll. So, what is left for the party is the legislative seats – House of Assembly and National Assembly. In the past, APGA has not done well in legislative elections except in 2011 where it won four seats in the House of Representatives. Despite controlling the state, the Anambra State House of Assembly is peopled by the PDP. The three senators from the state belong to the PDP (two) and the All Progressives Congress (APC). The 2015 elections will show if Obi’s exit has incapacitated the party in the state and to a large extent determines the future of the party in Anambra State.

UWAKWE ABUGU reports that the All Progressives Grand Alliance (APGA) in Enugu State seems to be non-existent in Enugu State

t a time when most political parties and their various stakeholders are already rallying round aspirants and preparing for the 2015 general election, not much has been seen or heard from the All Progressives Grand Alliance (APGA) in Enugu State. Recently some leaders and members of the party in Anambra State stormed the Zoo Estate, Enugu residence of its national chairman, Chief Victor Umeh, when they came to urge him to throw his hat in the ring for the Anambra Central senatorial seat. Contrary to the carnival that event turned out to be, the situation on ground in Enugu State does not seem to have much to cheer about. When our reporter visited the state secretariat of the party located on O’conor Street, Asata, Enugu last week, it was discovered that the facility is the office used by the faction

Politics

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

decision time for APGA

Abia not in APGA’s radar for 2015 A few months to the general election, nothing is on ground to prove that the All Progressives Grand Alliance (APGA) in Abia State is making efforts to make an impact, IGBEAKU ORJI reports

eyond political grandstanding there is hardly any convincing structure on ground that the All Progressives Grand Alliance (APGA) in Abia State will make any impact in the forthcoming elections, let alone winning. Many hold that APGA itself will not wager on its strength to win any election in the state, but in politics no party can be ignored. While other serious political parties are busy with the sale of forms for the 2015 elections, the APGA state secretariat on Mission Hill Umuahia is locked. Even the ancillary staff were not seen as the office gate was under lock and key. Opposition, it is generally believed, is the spice of democracy. Where there is no opposition the ruling party embarks on a journey of impunity, ineptitude and corruption. It is against this backdrop that Nigerians rejoiced that the amalgam of parties that gave birth to the All Progressives Congress (APC) would provide a viable alternative to the ruling Peoples Democratic Party (PDP’s) hold on the reins of government. The last time Abia State had opposition was in 2007 when the incumbent Governor Theodore Orji won the election on the platform of the Progressive Peoples Alliance (PPA). At that time the major stakeholders who were in PDP constituted a formidable opposition to the government.

But since Orji returned to the PDP, opposition in the state capitulated including the APGA. During Orji’s journey back to the PDP he made a brief stopover at APGA. That was the most glorious moment of the party in the state. Even when Uzodinma Okpara was its governorship candidate in 2007 and Reagan Ufomba in 2011, the party made no impact in the state. When Governor Orji made a stopover at APGA, it became obvious that all was not well with the party. Internal wrangling in the party came to the fore. Two factions emerged. The Morgan Anyalechi and Longman Nwachukwu-led factions squared up for the battle of legitimacy and supremacy. Nwachukwu has since joined the government of Orji first as the Commissioner for Lands and presently the Commissioner for Works. Many thought the visit of the national chairman of the party, Victor Umeh, to the Abia State secretariat in July would chart a new trajectory for the party but this also failed to reverse the party’s fortunes. Since that visit, the party has not fared better. There is no sign that it wants to participate in the 2015 election. It is also possible that the party is waiting for those who will jump over from other parties. That is the only plausible explanation for the desolation in the secretariat. Chairman of the party in the state, Prince Nnanna Ukegbu,

APGA’s secretariat in Umuahia, Abia State

said the party is on ground “and by the grace of God, we will take the state in 2015.” He said that no fewer than five candidates have indicated interest in the governorship of the state on the party’s platform. He said the party just released its fees for various offices. Aside Sir Chikwe Udensi whose billboard stands across the road to the secretariat, Ukaegbu said Emeka Kalu and Regale Nwachukwu are also in the race, “and others hanging around.” But even so, these names are little known political figures in the state. He said many candidates for different elective offices are jostling for the party’s endorsement. But APGA governorship candidate in 2011 election, Ufomba said: “APGA is in court, you can’t do anything when you are in court, I can win election in any party especially now that they have approved independent candidacy.” One factor that has worked against the party’s strength is the inordinate ambition of

During Orji’s journey back to the PDP, he made a brief stopover at APGA. That was the most glorious moment of the party in the state. Even when Uzodinma Okpara was its governorship candidate in 2007 and Reagan Ufomba in 2011, the party made no impact in the state

Party still on drawing board in Enugu of the Maxi Okwu-led executive of the party before the last court verdict that finally ceded the leadership of the party to Umeh. Yet, at No. 38 Ogui Road also in Enugu metropolis now housing the current and authentic state office of the party led by the state chairman, Okey Nkolagu, there was not much to show that it was a state office of a party preparing for election that would hold in a few months’ time. However, Nkolagu told New Telegraph that a lot is happening in the party but that for strategic reasons bordering on certain calculations on alignments and realignments, not much has been heard about the party’s leading candidates for next year’s elections. He boasted that the party is battle ready to take on even the ruling Peoples Democratic Party (PDP) in the state. It is known that the PDP has had so much influence on the state that at present, not even one elective

Okwu

position is held by any opposition parties in the state. Asked about how the PDP was going to take the planned challenge in the offing from APGA, especially with the pronouncement by Governor Willie Obiano of Anambra State concerning next year’s

At No. 38 Ogui Road also in Enugu metropolis now housing the current and authentic state office of the party led by the state chairman, Okey Nkolagu, there was not much to show that it is a state office of a party preparing for election that would hold in a few months’ time

election, the state publicity secretary of the PDP, Dr. Okey Eze, was firm in dismissing any possible threat from APGA. With an air of finality, he said: “I can tell you, and you should quote me, that no party can pose any threat to us here in the state. Even if all the parties come together, they can’t threaten PDP let alone APGA jolting PDP.” Yet, the state chairman of APGA said the leadership of the party in the state is keeping its grand plans closely to its chest and that many aspirants are already queuing up to contests for all the elective positions available for contest in the state. He said: “In terms of the aspirants for the various positions, we are not lacking and we have no problem. What happens is that we are trying to harmonise their positions to ensure a near rancour-free primaries. “We are trying to do this so that we don’t throw the race open to those who are weak

its national chairman, Victor Umeh, said a politician who preferred to be anonymous. He described Umeh’s sit tight policy as democratic dictatorship. “Since Chekwas Okorie was forced out of the party Victor Umeh has remained the national chairman, he does not want to organise a congress nor does he want another person to emerge. He sees the position as a lifetime office and that is not good for democracy,” the source said. “Not even APGA would wager on picking a councillorship position not to talk of the governorship seat,” said another politician, adding that “opposition in Abia is dead or let them prove me wrong.” Again, the numerous court cases that have become the lot of APGA seem to have dampened the enthusiasm of many supporters of the party. It is hardly profitable to speculate on the strength of the party in 2015 in Abia State but the scenario would become clearer in a few months time. electorally when we can strategise more to get the stronger candidates. We are planning to win the state and to ensure that APGA regains the South-East. It is a national party though actually a movement and we want to ensure its firm-footing in the South-East and even here in Enugu,” said Nkolagu. Speaking on the state of APGA not just in Enugu but in other parts of the South-East, former President-General of Ohanaeze Ndigbo, Dr. Dozie Ikedife, lamented the gale of defections from the party by former Governor Peter Obi and some National Assembly members who had won elections on the party’s platform. He said it is difficult to predict whether the party would win in Enugu or elsewhere considering the effect of the on-going crisis rocking its leadership. According to the elder statesman, “APGA is really a crusading body and there are people who are in it and very passionate as members of that crusade, but there are others who CONTINUED ON PAGE 20

16 Politics /Monday Interview

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Nwagu: Ex-governors come to Senate for protection Senator Paulinus Nwagu is the chairman, Senate Committee on Police Affairs. He is contesting the Ebonyi State governorship seat on the platform of the Peoples Democratic Party (PDP). In this interview with CHUKWU DAVID in Abuja, he argues that the principles of zoning, federal character and consensus candidacy are inimical to the growth of democracy. He also speaks on the security challenges in the country and the influx of ex-governors to the Senate, amongst others. You have publicly declared your intention to run for the governorship seat of Ebonyi State in 2015. Now that your governor, Martin Elechi, and other political stakeholders have adopted the former Minister of Health, Prof. Onyebuchi Chukwu, as the consensus candidate, are you still going ahead with your ambition? You know that the Peoples Democratic Party (PDP) constitution does not have provision for adoption; neither does it have provision for endorsement. The internal democracy in the PDP provides the platform for everybody who is an aspirant or who is interested and eligible to participate in an election, both in primaries and in general election. And those who win the primaries carry the party’s flag in the general election. Ebonyi cannot be different. I heard that Governor Martin Elechi at a meeting with his friends announced that he was interested in Onyebuchi Chukwu. That is not the position of the party. And I am not sure it was the decision of the party’s stakeholders in Ebonyi because I am also a stakeholder, and we also put money to build the PDP to where it is today. I have remained in the PDP from the beginning till today. So, if I build a structure to this level and we are not considered as stakeholders, I imagine who the stakeholders are. I am also very much aware that the Secretary to the Government of the Federation (SGF), who is a former President of the Senate, is a major stakeholder in Ebonyi; and am sure he was not there. I am also aware that the former Governor of Ebonyi State for eight years, Dr. Sam Egwu, was not there. So, if these people were not in such a meeting and you call it stakeholders meeting, then I am wondering what kind of stakeholders would have taken the decision. In any case, it is easy for governors to play with words especially as election is coming. Endorsement has become a new political vocabulary. Endorsement or imposition or selection are not ingredients of democracy. Democracy is founded on the principle of freedom and participation. And as far as I am concerned, we are going to participate. The power to decide who represents the PDP is in the hands of PDP members who are delegates. And the power to decide who rules Ebonyi in 2015 rests on Ebonyi people. That is the social contract; that is the mandate of the people. There is no politician without the people, and there can’t be people without the politicians. The two complement each other. So, until that time; we have gone ahead to purchase our forms, we have filled these forms and I have submitted the forms to the national secretariat of the PDP. I have

also flagged off my campaign officially on Saturday, October 25 in Ebonyi. Zoning or rotation is adopted in Nigeria to protect the weak from the oppression or domination of the strong. Are you saying that the concept of zoning does not mean anything to you particularly as it affects Ebonyi State? President Goodluck Jonathan comes from a very small community called Otuoke. I am not sure the population of Otuoke is up to 100,000 but he is the President of the Federal Republic of Nigeria. I am not sure his emergence was borne out of zoning. In any case, President Umaru Yar’Adua was the President of Nigeria up to 2010, and Dr. Jonathan was the vice president; and the president died. If he wanted to do zoning, then ordinarily, he would have just served the remaining terms and allow the zone that produced the president to produce someone to complete the term. But he went ahead to contest the election because we don’t have the concept of zoning. So, we couldn’t have said because it was zoned to the north the man who should succeed him should not. So, if we are to go by zoning, naturally President Jonathan wouldn’t have been president of Nigeria. Of course, Ekiti State is just a typical example. The election was just concluded a few months ago and Governor Ayodele Fayose was just inaugurated. The PDP did not ask them to go and zone the party. Fayose contested the election before and was impeached. He went away. Then he came back again. Ordinarily, if he had been governor before, is he not from a particular zone; why did PDP not stop him from coming out to contest again but he did and won the election. So, basically, those are the things that you look at. It is what applies to people that you look at. You cannot say because you want to satisfy a particular people in the concept of equity; equity brings mediocrity. That is why the federal character principle we have in Nigeria has almost killed our federal civil service. Because you want to do federal character you go to a particular place, you want to bring equity, then you bring in mediocrity; bringing in all sorts of people to fill the service in the name of equity, in the name of equal participation, and in the name of equality. And what happens? Those who are not qualified to hold positions hold positions and the system dies. What happens all over the world is that people who are qualified, people who are accepted – are the ingredients of democracy. Acceptability: are you accepted by the people; are you able to perform, are you able to know that these are the needs

of the people? It is poverty of leadership for people to impose themselves on people even when people don’t want them. As a result of what we are going through in Ebonyi, there is nobody who will emerge from Ebonyi and the people already know that he is capable of changing the story of Ebonyi for better that will not be voted for. It doesn’t matter whether the person is from the South or from the Central or from the North. What is important is that this person is acceptable to the people of the state, and they will vote for him. I am not coming out because I am the most acceptable and the most performing but I know that in Ebonyi today, I am the most qualified, having become a councillor, become a local government chairman, being to the House of Representatives and now a Senator of the Federal Republic of Nigeria. That is what makes the difference. I am a politician who grew from the grassroots, it makes the difference. And because I am qualified and accepted to the people, so the issue of zoning is not the defining factors in this election. People may listen to you and conclude that you are reasoning this way because of your vested political interest in Ebonyi. Are you saying that the fundamental problems such as the issue of marginalisation and domination, which the concepts of federal character, zoning or rotation set out to tackle in the

I don’t even know if he (Chukwu) knows the name of his ward chairman. Does he have any structure? Is he a member of the party? Does he even have membership card or you just bring him because you just want to bring him?

Nwagu

polity are not meaningful? Then if it has solved the problem, there shouldn’t be any cry of marginalisation because everyday in Nigeria, people are crying of marginalisation. If that problem has been solved, why are people still complaining? These are not the issues. We know that after the civil war, some parts of this country lost out completely in the federal system, and there was need for reintegration; there was real reason for people coming back together. The National Youth Service Corps (NYSC) scheme was one of the principles; the establishment of the unity schools was one of those things brought for people to reintegrate, through the young people coming up and reintegrating and coming together to remember to call themselves members of this project called Nigeria. There is no doubt about that, but when you talk about zoning or federal character and all that, that does not remove the fact that the intention may be good but the application of the principle may be wrong and that brings mediocrity and that is what we are talking about. If you rely on equity and zoning and federal character in running the affairs of state, of course the society will not grow. We are trying to grow our democracy. We are 54 years, but we are just 15 years as a democratic country; which means we are still learning, and someone who is learning does not learn the wrong ones, you learn the right ones, so that when you are maturing, you are maturing with good ideas. That is the essence of learning. So, democratic principles all

Politics /Monday Interview 17

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

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

over the world are the same. Application may vary, depending on where you find yourself but that has not changed the fundamental principles of democracyfreedom and participation. So, as far as I am concerned and I know, what is important is good leadership. We know that many politicians promise to build bridges where there are no rivers. That is what creates the gap between performance and promises. The problem we have in this country is the gap between performance and promises; and we feel that the time has come for those who have got both the grassroots experience, national and international experience especially in politics to have opportunity to give the people what they deserve; and that is good leadership. It does not matter where the person comes from. It is not where you comes from that defines your quality of leadership but what is inherent in you; and because I know that I am going to deliver, and if given the opportunity by Ebonyians, not by somebody, I am not going to disappoint them. You know that the federal character is an establishment of the law, would you now advocate that the act establishing it be repealed? I have told you that the intentions of these laws are okay but the applicability is the issue. If you are talking about federal character, you are talking about the nation; it has nothing to do with zoning or its formula by political parties. Of course, federal character is in the constitution. It is meant to give every part

of this country some equal opportunity in the federal civil service. And it has achieved this to some extent; whether it is properly done or not is not the issue. For whatever it is, there is good intent and purposes of this law. Perhaps, where Nigerians may look at is the proper application especially in terms of quality in our federal civil service. That will help to strengthen the system, check corruption, and bring back international best practices in our system. You remember here in the National Assembly, how many probes we have had or people absconding with billions of pension fund. Naturally, if it is a service that is run by quality people; run by people who are ready to give good leadership, we wouldn’t be absconding with N3 billion of public fund, N20 billion of public fund. I think that is not what the service is meant for; that is why we are talking about proper applicability of federal character. It is quite different from the issue of zoning or the rules of the party. PDP as a party, does not have provision for zoning, imposition or anointing. Those are alien concepts. PDP’s internal democracy provides the platform for all its members who are interested in holding political offices. Internal democracy means give everybody equal opportunity. If Ebonyians feel that there is a credible person coming from any part of the state for this election, let them vote for the person. But what we are saying is that there can’t be anointing; there can’t be a selection, there can’t be imposition; it is a level playing field.

And let’s even look at the candidates we are even presenting, how do you just come in, you bring somebody from nowhere. I don’t even know if he knows the name of his ward chairman. Does he have any structure? Is he a member of the party? Does he even have a membership card or you just bring him because you just want to bring him. What are the qualities in him that makes the difference amongst other people who are contesting, and you make it look as if others who are contesting are non-issues. That is the basis of consultation. You have to consult the people of the state and tell them that this person has done this and this; and if given the opportunity, he will do so and so. That will make the difference and people will make their decision based on facts available to them on the person. And you don’t foreclose the people having opportunity, if not, you will be uncharitable to PDP because you will be providing the platform for members of the opposition party to bring in other people in a different way and win the election and the PDP will lose. That is what we don’t want, Ebonyi is a PDP state and it will remain a PDP state. That is what we want because we have to deliver good quality leadership, dividends of democracy, give the people what they deserve. The mistakes we made in the past, we have to correct them to project the party in good light in Ebonyi. How do you see the trend of former governors flocking to the Senate on completion of their tenure as if the National Assembly is a

retirement institution? Some of the ex-governors are coming into the National Assembly with good intention while some are coming into the National Assembly to hide from the security agencies based on their past record while in office as governors. They come under the cover of the National Assembly to evade trial or police arrest. We have had such cases in the past. Some of the ex-governors also come to the Senate to prove to Nigerians that they can fight Mr. President by finding fault with any little loophole in the financial record of the executive arm. If you take a look at the happenings in the past six months, you would see that some of our senators are even saying that President Jonathan should be pulled down because he didn’t do this or he didn’t do that. The senators engage in such acts are ex-governors in the Senate. They acquire wealth and force their way into the National Assembly and begin to perfect strategies of attacking the president through fault finding with anything done by any agency or parastatal of the executive. If you watch with keen interest at our deliberations, you would see that 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. Some of them would prove that they are big men and what is the point allowing them to occupy space in the Senate? In fact, any time we had issues at the Senate, it must be traced to them. So, the ex-governors are just coming to the Red Chamber to prove that they have much money to do anything they like. Imagine a situation where somebody will just come into the Senate as a former governor and begin to prove that he knows the law. It is not done. If you come, you queue up because there were legislators who started the business of lawmaking long before you came, and there is ranking even in heaven which was why Jesus Christ was sent to us by His father and you can’t go to heaven without passing through Jesus. So, the issue of ranking in the National Assembly started from heaven, it didn’t start here. Nigeria has been facing stiff security challenges in the last five years. Why is this challenge lingering despite efforts by the Federal Government to tackle the problem by imposing emergency rule on the three North East states? Most Nigerians could not believe that by today we would be passing through this type of security challenge. It is a new trend in the security sector. We never experienced this. To me, in the last 10 years, if somebody had told me that we would one day see a Nigerian with bomb around his or her waist to kill himself and others, I wouldn’t believe it because it is alien to our culture. So, it is a new development in our security sector but my concern is that we should be able to try and understand what the government and the security agencies are doing. To me, our security agencies are doing very well. Those of us who are in the sector will also tell you that they are doing very well because we know what they are doing. The only hiccup we have here is that to fight insurgency is a herculean task. If you look at America, you will find out that up till now, having gotten their independence over 200 years ago, they are still fighting insurgency. Ours just started few years ago and this is where we are and yet the security agencies are doing their best to curtail it. Nigerians should be patient and cooperate with government because we will definitely overcome these challenges confronting us in the country.

APGA polarised IN IMO over endorsement –page 20

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Opinion

Ifeanyi Ugwuanyi: A personal encounter

Godson Ogbu-Nweke

here are two things, in my view, that define a man: his spirit of philanthropy and sense of community. A man who gives freely of his possessions to others does the will of God and is always on top (as the late MKO Abiola would say, the hand that gives is always on top). Similarly, a successful man is actually one who easily connects with and does things for, or the will of, his people. Such a man has a strong, powerful kindred spirit, a keen sense of community and is almost always called upon to lead. Hon. Ifeanyi Ugwuanyi, PDP consensus candidate for the Enugu governorship race next year, a grassroots politician and a cheerful giver, fits this bill very well. He is one of the few men in his generation in our part of Igboland about whom the people can veritably say “here is our leader in whom we are well pleased.” I am yet to see a politician in Enugu State whose choice as a governorship candidate has generated such widespread interest and acclaim as Ugwuanyi’s. But, back to the matter of my personal encounter with Hon. Ugwuanyi… When Dr. Ike Abugu, an engineer and small and medium enterprises scholar died in the ill-fated Dana Air crash of June 3, 2012, it fell on some of us his relatives, friends and associates living with him in Lagos, to organize a befitting burial for the Russian-trained metallurgical engineer. We formed a burial committee where one was appointed chairman of the publicity sub-committee. The publicity sub-committee processed and produced the burial programme brochure, posters, banners and T-shirts. It also made radio/Tv announcements and placed adverts in newspapers. Emma, Ike’s younger brother, a chartered accountant, is a well-heeled young man and could easily have financed his brother’s burial. But, chairman of the burial committee Bishop Oscar Ossai, founder/pastor of the City of Refuge, Ogudu GRA, Lagos, and co-chairman Dr. Nick Okonkwo Idoko, had reasoned that the job of the committee was not just to come and draw up budget for the burial but to raise money to support the burial effort as well.

I am yet to see a politician in Enugu State whose choice as a governorship candidate has generated such widespread interest and acclaim as Ugwuanyi’s. But, back to the matter of my personal encounter with Hon. Ugwuanyi… On that note, we started reeling off names of Ike’s friends and associates to contact. Quickly, we ticked Dr. Obiora Okonkwo, Dikeora Ogidi and a senatorial aspirant on the platform of PDP for Anambra Central; Vita Abba, Chairman PDP, Enugu State; Okey Ezea (Ideke Nsukka), LP governorship candidate for 2011in Enugu State and Chairman of Ideke Holdings (PH); Senator Ayogu Eze, Chairman Senate Committee on Works; Charlie Ugwu (Onowu Igugu), a lawyer and estate magnate, Abuja; Olisaemeka Ugwunze of MESCANA Holdings Lagos and Prince Emeka Mamah, Chairman Ifesinachi Industries and Ifex Couriers (Nigeria Ltd), among others. One of the committee members and my good friend, Hillary Ogili, then whispered into my ears: “O’l boy, put down Gburugburu (Hon. Ugwuanyi’s) name.” Okay, I said, but I didn’t have his number. And in any case, I didn’t know how familiar he was with Abugu. The names we had written down were people with whom we shared friendship . But Larry assured that he would provide Gburugburu’s number, stressing that going by Abugu’s gregarious nature and Ugwuanyi’s penchant for connecting with people, especially with members of his Igbo-Eze North/Udenu Federal Constituency constituency, how sure was I that he didn’t know the deceased personally? So, I put down his name. To be sure, we got very encouraging responses from the aforementioned people and much more. But, the interesting thing about Ugwuanyi’s contribution was that it was the only one made largely

in blind trust—he didn’t know me very well and it turned out that he wasn’t quite familiar with Abugu either. But he was moved by the fact that such a prominent person from his constituency had died in such horrible circumstances, to make a generous contribution. He was in South Korea attending to his official assignment as Chairman of the House Committee on Maritime when all this was happening. Could I KINDLY meet him at the airport on Saturday (he sent the text Thursday evening), to collect his own contribution? The rest is history, as they say. Before, then I had met Ugwuanyi briefly at a function in a very telling circumstance. In November 2009, my club, Ezike Diamond Club had, in collaboration with the Movement for the Creation of Adada State, organized a lecture at the Yar’Adua Centre, Abuja, with the theme State Creation: Imperative for Adada in the South East, to which many prominent people from the South East, Enugu State in particular, had been invited. Ugwuanyi, a tall, huge man, had come in quietly and sat in the crowd: no frills, no fanfare, no airs. I was introducing guests to the high-table as we waited for the official compere to arrive without even looking towards the direction where Ugwuanyi sat when club Chairman Mr. Ted Ojimba, feeling very uncomfortable, ran to me and asked why I had not introduced Gburugburu; did I not know him? Of course, I knew him by reputation, but I had hitherto not met the PDP consensus candidate for Enugu 2015 governorship election, and so did not know he was the one sitting where he sat. I was later to discover that he constantly signaled to people who went to greet him not to hail him loudly so as not to disrupt proceedings, otherwise the hall would have broken out in thunderous Gburugburu! Ggburugburu! Two character traits are obvious here: empathy and humility. Ugwuany is typical of the biblical concept of the good man--one who rejoices with those who rejoice and mourns with those who mourn. He is also the type that humbles himself that the good Lord may exalt him. If a leader has these two qualities in good measures, he is certain to excel. Think of Bill Clinton and you have the portrait of Enugu Governor-in-waiting. •Ogbu-Nweke sent this piece from Lagos

Buhari and his flawed tactics Sufuyan Ojeifo

ormer military dictator and presidential aspirant of the All Progressives Congress (APC), General Muhammadu Buhari, is continuing his trademark politics of bitterness, blackmail and fear mongering. At a Northern stakeholders’ meeting of the APC, held on Saturday, October 18, 2014, in Kaduna, Buhari once again threw caution, which is expected of an elder, to the winds and launched a subtle jibe at the judges of the country’s apex court. He said, “I tried to be a President three times; three times I failed. I challenged the election up to the Supreme Court. Who were the judges of the Supreme Court? What were their decisions? The most interesting one was in 2007 where three of the sevenman panel of judges said the election was not done according to the law....” It is worrisome that an elder of Buhari’s standing will make utterances which insinuate that judges of the Supreme Court were compromised or suborned to arrive at a verdict not favourable to him, an indication that he has no respect for the judiciary. If, as Buhari said, “three of the seven-man panel of

judges said the election was not done according to the law” in 2007, does it not follow that the remaining four judges were of the legal opinion that the election satisfied the requirements of the law? Or, would Buhari have preferred to be handed a victory on the basis of the three judges who were ostensibly in support of his case against the four judges who were not? Moreover, that Buhari, in 2014, is still talking about his 2007 loss at the Supreme Court is a pointer to just how unsportsmanlike he can be and how long his bitterness can last. It also brings to the fore the fear mongering with which Buhari has often laced his public statements, some of which, if one is to be kind, can only, at best, be described as not statesmanlike. Lest Nigerians forget, it was Buhari who once told the world during a BBC Hausa Service interview that, “If what happened in 2011 should again happen in 2015, by the grace of God, the dog and the baboon would all be soaked in blood.” And if we are to follow Buhari’s example and go back to the past, let every wellmeaning Nigerian challenge Buhari to search his conscience whether his utterances before and after the 2011 Presidential Election did not stoke and encourage the violence in some parts of the north that led to the loss of many Nigerians after the election.

Coming back to the Saturday, October 18, 2014 event in Kaduna, Buhari further scored a new low in fear mongering while reinforcing the APC policy of demonizing the Peoples Democratic Party (PDP). He said: “another four years of PDP will send this country down the drain.” This is a classic example of Buhari’s brand of politicking, which is to mix fear with blackmail and intimidation in the hope that voters will be cowed into supporting him. It is simply incredible that after three failed attempts at winning the presidency through the ballot box, instead of the military coup that he once used, Buhari’s handlers cannot advise him to change his flawed tactics. In reality, what does Buhari’s “another four years of PDP will send this country down the drain” mean? Nigerians are intelligent beings and can fact-check things for themselves. Yes, the PDP has been in power for 15 years, in which time the country has witnessed many positive changes. To be clear, nobody is saying Nigeria has reached the state of Utopia; but then, again, which country can be said to have reached Utopia? However, the many positive changes that Nigeria has witnessed under the PDP include tremendous growth in the areas of telecommunications, agriculture, women empowerment and, perhaps, most importantly, freedom of democratic expression. It is this freedom of democratic ex-

pression that allows Buhari to go around making unguarded statements aimed at stoking anger against the government of the day, something which Buhari, the military dictator, would never have tolerated. For those who may have short memories, let us recall that Buhari is one of the very few Nigerians who have had the privilege of ruling Nigeria in the past. Let us recall specifically that Buhari is, indeed, a former military dictator who truncated the democratically elected government of President Shehu Shagari in 1983. Let us remember that Buhari’s Decree No.4 remains one of the most draconian laws against press freedom that the entire world has ever seen. And let us never forget that Buhari’s regime incarcerated many Nigerians, including former Vice President Alex Ekwueme, for long periods of time without trial. So if today, as is the case, retired General Muhammadu Buhari, a man who appears negatively rigid and incapable of putting on a democratic temperament, offers himself for service as Nigeria’s democratically elected president, and he seeks to achieve this feat through the misguided politics of fear mongering, intimidation and outright blackmail, Nigerians have the right to look him in the face and say, “Thanks, but no thanks, General! We’ve seen your style before. It did us no good then and it would do us no good now.” • Ojeifo contributed this piece from Abuja.

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

EDITORIAL

Our VISION To build a newspaper organisation anchored on the sanctity of truth.

Three things cannot be long hidden: the sun, the moon and the truth – Buddha

Sanctity of Truth

Our MISSION To publish a newspaper of superior value, upholding the fundamental ethics of journalism: balanced reporting, fairness, accuracy and objectivity.

Nigeria’s most authoritative newspaper in politics and business

The NUC directive on PhD

t the University of Ilorin recently, the Executive Secretary, Nigerian Universities Commission (NUC), Professor Julius Okojie, had cause to lament the paucity of highly trained manpower in the university system. Speaking at the first International Conference of UNILORIN Postgraduate Students’ Association (POGSASS), held at the university, Okojie, who was represented by Professor Akaneren Essien, Chairman, NUC Standing Committee on Private Universities, said “only the University of Ilorin (UNILORIN) and six others have 60 per cent academic staff with PhD qualification.” Meaning: the remaining 111 other universities do not have the requisite manpower to teach and conduct research in the institutions. The NUC scribe, however, commended the university authorities for placing high premium on both undergraduate and postgraduate studies and advised the university authority not to rest on its oars, but to strive to attain a minimum of 80 per cent of academic staff with PhDs. By NUC directive, all university lecturers were to have earned a minimum of PhD as far back as 2009 or lose their job. Obviously, that directive has been observed largely in the breach. And while the existing ones face this fundamental challenge, more universi-

ties are springing up practically by the day. Where are they going to get the manpower with the requisite qualification to teach? To be sure, the directive has generated a great deal of controversy in and outside the university system. But both supporters and opponents of the idea are unanimous about one thing: to prevent instability and uncertainty in the fragile university system, the qualifications deadline should be extended to allow affected academics to obtain their PhDs. In an address to the Association and Committee of Vice Chancellors, the NUC’s Okojie referred to a regulation called the Benchmark Minimum Academics Standard (BMAS), which relates to the basic qualification a university teacher must possess. He said: “If you don’t have a PhD, you cannot teach. It has been an old regulation in the university system. If you graduate with a first class or second class upper, we take you as a graduate assistant. You are a trainee fellow. You are not a lecturer. When you earn your masters, you become an assistant lecturer. You are still not a lecturer…”A lecturer is an examiner. The day you obtain your PhD, even if you have never worked before, your first appointment is lecturer grade two. What has happened in the past is that because of the dearth of PhD holders, universities employed those

with mature masters as a lecturer grade two.” However, Okojie added, an academic without a PhD is not an examiner and is excluded, among other things, from board of examiners’ meetings. On the surface, there is nothing wrong with the idea. The underlining objective is, of course, to improve the overall quality of education particularly at the post-secondary level, in the country. But, it must be stressed that PhD should not be acquired for the sake of the certificate but for deepening genuine intellectualism in any discipline and for the transfer of knowledge to up and coming students. It is a pity that, today many university lecturers do not write articles in local and international journals, thereby contributing nothing to the body of knowledge. They are promoted administratively and not on the number of outstanding contributions to academics. Too bad that the old virtue of discipline is now lost in many of our tertiary institutions; lecturers have become excessively materialistic just as the larger society has lost its well-cherished values and moral ethos. The point, however, must be made that there are scholars who never had PhD, but have published very widely in local and international journals as well as written books that are read worldwide. Notable examples

include home boys, the Nobel Laureate, Professor Wole Soyinka and the late Professor Chinua Achebe. Thus, while it is desirable for a lecturer to possess a Ph.D, it does not necessarily make one a good lecturer. Unless well handled, the policy could lead to good lecturers who do not have doctoral certificates exiting the university system. Therefore, our advice is that the NUC directive must be measured in relation to the lecturer’s contribution to knowledge. The sad truth is that for about 20 years, postgraduate programmes in Nigeria were undermined to the point of collapse. The military governments at that time wantonly denied the university system adequate funding. Between 1983 and 1999 when the military ruled Nigeria, there was enough money from high oil prices to fund, equip and encourage postgraduate programmes in Nigerian universities. But the government, apparently seeing lecturers and students as drivers of opposition to perpetual military rule, decided not to adequately fund the universities. Thus, numerous professors in charge of postgraduate programmes migrated to greener pastures abroad. The challenge now for NUC is to evolve a more holistic, pragmatic and rewarding approach to improving the quality of university education in Nigeria.

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

Felix Oguejiofor Abugu

Managing Editor n Suleiman Uba Gaya

Editor, Daily n Yemi Ajayi

Editor, Saturday n Laurence Ani

Editor, Sunday n Emeka Madunagu

Deputy Editors, Daily n Emeka Obasi, Ayodele Ojo

Bureau Chief, Brussels n Leo Cendrowicz

Bureau Chief, Washington DC n Marshall Comins

Editorial Coordinator, Europe n Sam Amsterdam

Ag. Bureau Chief, Abuja n Onwuka Nzeshi News Editor n Geoffrey Ekenna

Business Development Manager n Taiwo Ahmed

Ag. Sales/Circulation Manager n Uchey Okezie

Head, Graphics n Timothy Akinleye

Head, Admin. n Robinson Ezeh

Politics

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

decision time for APGA

Imo: APGA polarised over endorsement The All Progressives Grand Alliance (APGA) in Imo State is polarised over the endorsement of a governorship hopeful, writes STEVE UZOECHI

he All Progressives Grand Alliance (APGA) is a political party that has always held some promise in Imo State. Founded in 2004, APGA did not wait too long to get off the ground as it indeed shook up the status quo in 2007 when Chief Martin Agbaso, its then governorship candidate lost the Imo governorship by the whiskers. Due to the crisis in the Imo State chapter of the Peoples Democratic Party (PDP) and the conspiracy that rendered the governorship ticket of the PDP governorship candidate at the time, Senator Ifeanyi Araraume, nugatory, followers of the then incumbent governor, Chief Achike Udenwa, were mobilised to vote the next alternative party on the line, APGA, which enjoyed the popular tag as ‘the Igbo political party’. Most PDP supporters and APGA loyalists poured in their votes for APGA across the state aggregating votes to the benefit of Agbaso. By the end of voting, APGA and indeed Agbaso were certain to occupy the Douglas House after the announcement of polling results but that was not to be as a master political stroke by politicians of Imo North (Okigwe zone) extraction who pushed a valid case of marginalisation were considered with due respect to Prof. Maurice Iwu, who hails from the zone, and the governorship poll was cancelled while the State Assembly poll that held at the same time was upheld. The rescheduled election threw up Chief Ikedi Ohakim, a son of Imo North and not even the electoral tribunal and tortuous litigation processes could restore the mandate lost by APGA in 2007. As big a loss as it was, APGA has announced its entry into Imo politics and in 2011, they posted another brilliant performance and this time, the party held on to their victory until it was consummated with the swearing-in of Governor Rochas Okorocha. Though, along the line, Okorocha dumped the party for the All Progressives Congress (APC), APGA remains a political platform on ground in Imo state. Though sales of APGA governorship nomination forms would commence by Monday, October 27, it is evident that the contest for the party’s ticket is between Capt. Emmanuel Ihenacho and Mr. Okey Ezeh. The fact that there is no

The state secretariat of APGA in Owerri, the Imo State capital

scramble for the party’s governorship ticket does not imply that the party would not pull its weight in the 2015 governorship election. Besides, whenever the PDP is stretched by internal crisis or is faced by possibilities of implosion as seems the case presently, APGA is always the alternative and most acceptable party that comes to mind in Imo State. APGA enjoys the advantage of the sentiment that labels it, ‘the Igbo party’ drawing artisans and pro-Biafran and other self-determination groups, but the party’s chances in a state like Imo has been heavily blighted by controversy and intra-party crises. The recent endorsement controversy between Capt. Emmanuel Iheanacho and Mr. Okey Ezeh is an ill wind that will blow nobody in the party any good. A clique of leaders in the party under the platform, ‘Imo Apex leadership Caucus of APGA’ had last month issued a communiqué of a meeting where Iheanacho, a former minister in PDP government, was unanimously endorsed by the party leaders as the consensus candidate of the party for the Imo governorship election in 2015. This threw open a flood gate of protests and agitations against the said endorsement of an automatic candidate for the party against the process of primary elections. This further snowballed into confrontations between supporters of Iheanacho and Ezeh and was also the cause of the disruption of one of the party’s sensitization rallies by thugs believed to be loyal to Ezeh. Not even the state executive of the party was spared as they were, following the publication of the endorsement of Iheanacho, split in the middle. Ezeh had promptly rejected the endorsement of Iheanacho, describing the action as “illegal, childish and undemocratic.” While Iheanacho maintained a studied silence, some of his handlers including his Director of Media, Emperor Iwuala, moved in to justify the endorse-

ment, saying it was valid and in accordance with the APGA constitution. This triggered blistering exchanges across the two political camps while the national leadership of the party was at a loss as to how to mitigate the crisis. In a statement signed by Nze Benjamin Iroham and Comrade Benjamin Ogoke, Coordinator

The fact that there is no scramble for the party’s governorship ticket does not imply that the party would not pull its weight in the 2015 governorship election... Whatever be the case, APGA in Imo State is not yet a write-off

and Secretary of Imo Consultative Assembly (ICA) respectively, the group alleged that investigations have revealed that “an APC governor in one of the South-West states is behind Okey Ezeh’s governorship aspiration with the wicked intention of destabilising the party ahead of 2015 and by so doing enhancing Governor Okorocha’s chances of winning the Imo governorship election in 2015.” They further challenged Ezeh to disclose his businesses and sources of income to Imo people to prove his sincerity and the genuineness of his governorship bid. In a swift reaction, Ezeh who spoke through his media aide, Mr. Dozie Samuel, said that the allegation of being sponsored is as “laughable as it is dumb” and goes to show the level of desperation, people who are supposed to be role models could resort to. The endorsement controversy did not only estrange two political camps in the party, but has also thrown members of the APGA state executives poles apart. Chairman of APGA in Imo State, Barr. Peter Ezeobi, had described the endorsement of Iheanacho as the consensus governorship candidate of the party, as democratic and in line with the party’s constitution. He said: “The endorsement

of Capt. Iheanacho was done by the leaders of the party and it is not only conventional but legal, democratic and in line with APGA constitution on nomination of aspirants for governorship election. The Publicity Secretary of the party, Chief Tony Mgbeahuruike, however countered the endorsement in a press statement in which he inferred that the action was out of place in a democracy and incompatible with the ideals of the party. The exchange of brickbats has continued and the APGA structure across the state is gradually being perilously polarized, creating bad blood and unnecessary hostilities within the party. It was also gathered that efforts by some party bigwigs to calm the situation hit a brick wall when an offer of the party’s senatorial ticket was rejected by Ezeh who is insisting on a fair contest. Following the development, the national chairman of the party, Chief Victor Umeh, was reported to have attended one of the party’s recent sensitization rallies where he reassured that the party would not impose any candidate on the people but would ensure that candidates emerge through a free and fair process in line with the APGA constitution. It is not clear whether the storm in the Imo State chapter of APGA has settled but what is certain is that a huge crack has been created on the APGA structure in the state with a pervading presence of mutual distrust among party members. This is evidently not the disposition of a political party that wants to win a governorship election in the next four months. Political pundits expect that APGA should quickly conduct its primary elections; swiftly manage the fall-outs from the primaries and put its house in order before the governorship election proper. Whatever be the case, APGA in Imo State is not yet a writeoff, as no one can entirely determine all the variables that ensure electoral victory.

Party still on the drawing board in Enugu C O N T I N U E D F R O M PA G E 1 5

are there as stepping stones to their destinations.” He was of the view that in the past two years, the party should have done better in expansion, aiming to become a truly national party. . On what Enugu State chapter of APGA has done in the area of governorship election, especially with the ruling party already out with a consensus candidate, Nkolagu explained that there are about three governorship aspirants running under the party’s platform. Curiously however, he would not reveal their identities, cit-

ing political calculations. Even in the senatorial race, it was the same disposition. He merely said the party had no problem with the senatorial candidates for Enugu North and Enugu East but that it is so far not fielding any candidate for Enugu West senatorial zone where Deputy Senate President, Ike Ekweremadu, and Governor Sullivan Chime are already engaged in a frightening duel. When asked whether his party was waiting for a fallout of the on-going pre-primaries harmonization going on in the state PDP, he did not give any definite response.

At present, the party has no elective office holder in the state unlike what obtains in Anambra. In 2011, APGA was at the verge of winning chairmanship election in Isi-Uzo local council area of the state. It missed it narrowly but eventually won the councillorship seat for Ehamufu Ward III with its candidate, Paul Olinya. Except for elements of surprise that could occur as a fallout of the on-going misgivings being expressed by certain aggrieved elements within the PDP, it would be difficult for the make an appreciable impact in Enugu come 2015.

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

21 Capital Market Report

Special Report

37-40

Nigerian equities rise on undervalued stocks

24 Leading Bank CEOs and how they run the economy

Business What's news

N9.6bn lost yearly to foreign training, others Nigeria is said to be losing approximately $60 million (N9.6billion) annually to training of engineers outside her shores and employment of expatriate aircraft engineers when, in actual fact, indigenous engineers could be trained locally to halt capital flight.

FG shops for N320bn to avert national grid collapse VOLTE-FACE Government moves to develop coal reserves to raise power generation capacity

p.22

‘Nigeria needs N20trn for 2m houses yearly’ Considering the huge accommodation deficit in the country, an average of N20 trillion is required to provide two million housing units each year to bridge the gap, Executive Director, Ecobank Capital, Mr Kunle Osilaja, has said.

p.22

The Business Desk Ayodele Aminu Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Godson Ikoro

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Nnamdi Amadi Reporter

Johnson Adebayo Asst Production Editor

The minister announced that the Transmission Company of Nigeria (TCN) was discussing with some potential investors towards building a solid transmission network for the country. He said: “The Federal CONTINUED ON PAGE 22

he Federal Government has admitted that the national transmission grid is ‘a weak link’ which will require $2 billion (N320 billion) investments to guard against its collapse in the next two years. New Telegraph had, several times, reported that the grid, which collapsed last year, is under another threat of a major collapse. Minister of Power, Prof. Chinedu Nebo, admitted that the transmission network, which he described as the life-blood of the entire electricity eco-system, is “proving to be a weak link,” in a speech at the 4th WorldStage National Electricity Power Conference in Lagos. He noted that on a yearly basis, N160 billion investments are required to achieve improvement in power transmission network. Represented by his aide on Investment and Finance, Olajuwon Olaleye, the minister said that vandalisation and obsolete infrastructure are some of the major impediments to the development of effective power transmission network for the nation. “The transmission net-

Kunle Azeez Energy

the NEPA/PHCN eras. It is expected that the transmission network will require a minimum investment of one billion dollars (about N160 billion) a year over the next few years to meet current demands and position itself towards global competitiveness.”

Adeola Yusuf

L-R: Head, Corporate Planning and Stategy, Skye Bank Plc, Mr Tajudeen Ahmed; Group Managing Director/Chief Executive Officer, Mr Timothy Oguntayo; Trade Representative, Enterprise Ireland, Mrs Thesa Brongers Bagu and the Directorate Head, Corporate Banking/Lagos Commercial Banking, Mr Segun Opeke, during Bagu’s visit to the bank on Friday

Nigeria’s gas export threatened as Chinese shale output rises Sunday Ojeme

igeria is likely to suffer more blows in its oil and gas export as its biggest customer at the moment, China, moves to cut further gas import due to the Asian country’s shale gas production steady rise.

A new estimate from the county’s National Energy Administration confirmed that China’s shale gas output is expected to reach 6.5 billion cubic metres (m3) in 2015. NEA Vice-Director, Zhang Yuqing, said the rise would represent an increase of up to 1.5billion m3 compared to this year, the state-run Xin-

hua News Agency reported. Reports from China Customs indicate that imports from Nigeria constituted 26 per cent of cargoes from non-traditional originations in 2013, while other non-traditional exporters to the Chinese market in 2013 included CONTINUED ON PAGE 22

Rates Dashboard

Senior Correspondent

Chuks Onuanyin

work is the life-blood of the entire electricity eco-system and currently it is proving to be a weak link in the Nigerian electricity supply industry. “Transmission infrastructure is outdated and many of the equipment are in poor shape due to neglect during

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 23)

USD . . . . . . . . . . . . . . . . . . . . . . N169 Pounds . . . . . . . . . . . . . . . . . . N275 Euro . . . . . . . . . . . . . . . . . . . . . N205

l Foreign Reserves – $39.06bn as at 23/10/2014

Source: CBN

EXCHANGE RATE (Official As at Oct 23)

USD . . . . . . . . . . . . . . . . . . . . N156.76 Pounds . . . . . . . . . . . . . . . . N250.69 Euro . . . . . . . . . . . . . . . . . . . N198.30

Business | News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

N9.6bn lost yearly to foreign training, others –Caverton boss CAPITAL FLIGHT

Growing local capacity is way out of the rising trend Wole Shadare

igeria is said to be losing approximately $60 million (N9.6billion) annually to training of engineers outside her shores and employment of expatriate aircraft engineers when, in actual fact, indigenous engineers could be trained locally to halt capital flight. Managing Director of Caverton Helicopters, Capt Josiah Choms, disclosed this to New Telegraph on the side-lines of graduation ceremony at the airline’s office at the Murtala Muhammed Airport, Lagos, for 15 Caverton engineers, who successfully completed the AW139 Type Rating course. He said that there is a shortfall in the pool of type-rated engineers in the country, stressing that his airline has a dedicated programme

to train and give types to indigenous engineers on an on-going basis. Choms said that the investment in training tallies with the vision of the Federal Government on local content in so many ways, adding that indigenous staff are trained to world standards and deployed within their operations.

Republic of Yemen (47 per cent), Egypt (17 per cent) and Equatorial Guinea (10 per cent). Nigeria’s economy is already experiencing a gloom as a result of free falling prices of the commodity at the global market. The development is heightened by the recent surge in Shale Oil production in the United States, which has seen crude oil fall steadily from one year high of $110.48 a barrel in May 2014, to a two-year low of $92.31 a barrel in September 2014. The Nigerian Bonny Light, though at $95.2 a barrel, is still substantially above the 2014 Budget Benchmark Crude Price of $77.5 a barrel, the production volume since the year has largely underperformed the 2.38 million barrels per day estimation. China, the world’s biggest energy consumer, traditionally imports its LNG cargoes from Qatar, Australia, Malaysia and Indonesia. The data shows Nigeria and Equatorial Guinea as maintaining their shares

capacity development in Nigeria, adding that the firm has trained local pilots, engineers and seafarers in support of its aviation and marine logistics service provision to the oil and gas industry in line with government’s intention to increase indigenous participation in the industry through the de-

velopment of human capacity, as stipulated in the Nigerian Content Development Act of 2010. Also, Chairman of Caverton Helicopters, Mr Adeniyi Makanjuola, said that by collaborating with renowned training providers to deliver training in-country and having the oversight of the Nigerian Civil Avia-

L-R: Mr Anietie Michael, Divisional Head, Keystone Bank, Uyo, representing the Managing Director/CEO; Mrs Nella Andem-Rabana (SAN), former Attorney-General of Cross River State (Book reviewer); Elder Mrs Edisua Usang Iso, Chairman, Bakassi Local Government Area and Mr Michael Williams, MD, Tourism Bureau, Cross River State, at the launch of Tupelo & Green’s Quintessentially Efik Recipes written by Nky Iweka in Calabar.

Nigeria’s gas export threatened CONTINUED FROM PAGE 21

His words: “We do not have to spend scarce foreign exchange recruiting staff from all over the world. In this way, we build indigenous capacity and also stem capital flight from the Nigerian shores.” He explained that Caverton Helicopters has made significant investments towards human

in 2014, with the entry of Angola (10 per cent), Russia (five per cent), Oman (five per cent) and Norway (4 percent) and Trinidad and Tobago (4 per cent). Share of Republic of Yemen dropped to 27 per cent and Egypt nine per cent. Angola’s $10bilion LNG plant, which came on line with the first cargo shipped in June 2013, was halted in April this year due to a leak. The plant is expected to restart in the middle of next year. According to Xinhua, Zhang told a workshop in Beijing that shale gas production, in which gas is extracted from shale rock using a process called hydraulic fracturing, or ‘fracking’, has seen “leapfrog developments” since the NEA began exploratory surveys in 2009. Zhang said shale gas was “an important unconventional source of natural gas” and that investment to date is being directed into exploratory activities for an estimated 130bn m3 of shale gas reserves.

DEFICIT NMRC is expected to bridge Nigeria’s housing gap through mortgages Dayo Ayeyemi

onsidering the huge accommodation deficit in the country, an average of N20 trillion is required to provide two million housing units each year to bridge the gap, Executive Director, Ecobank Capital, Mr Kunle Osilaja, has said. Justifying the amount at a forum in Lagos, Osilaja noted that Nigeria has 17 million housing deficit and considering the low budget for the housing sector by government, there has been a huge

tion Authority (NCAA), the company has demonstrated that it can adequately adapt the business to meet changes in the operating environment. Deputy Technical Manager, Shell Contract at Caverton, Mr Sean Ward, noted that “following the completion, the engineers will be positioned within the company to the operational bases that will add more to the practical elements required to the theoretical knowledge they have obtained to become unrestricted licensed type rated AW139 engineers.” According to him, as the largest operator of AW139 aircraft in the region and the authorised Agusta Westland Service Centre, it is to be a onestop-shop for training and logistics services in sub-Saharan Africa. It would be recalled that employing expatriate pilots and engineers in Nigeria is no piece of cake, as it takes a huge chunk of airline’s finance to maintain a foreign pilot. Airlines that hire them also spend huge amount of money on their security, among others.

‘Nigeria needs N20trn for 2m houses yearly’ funding gap that needed to be filled. According to his estimates, between N10 million and N20 million would be required per house, noting that approximately 90 per cent of urban housing is being produced by private developers. He said: “There are about 12 million houses in Nigeria. Considering a total population of 170 million people, there is still a dearth of housing, especially for the lowincome segment. Nigeria’s housing deficit is estimated at 17 million units and additional two million units needed each year at an estimate of

N10 million to N20 million per house.” Osilaja pointed out that the key segment to target with affordable mortgage finance are the lower-middle class, which represents five per cent; lower class that is made up of 40 per cent; and the other lower class – very poor - that represent 33 per cent of those that need affordable housing. He commended the launch of the Nigerian Mortgage Refinance Company (NMRC), noting that the firm would guarantee continuous lowcost and long-term funding for affordable housing in the country.

FG shops for N320bn CONTINUED FROM PAGE 21

Ministry of Power will continue in its role to attract and facilitate strategic and innovative investments in the sector that will further enhance our power generation, distribution, and transmission capacity to meet current and future demands. This would involve ensuring a robust and diverse energy mix.

To sustain a robust energy mix, however, the Federal Ministry of Power, Nebo said, has put in place structure and mechanisms to develop its coal reserves as a means of increasing generation capacity. “Already, in collaboration with the Federal Ministry of Mines and Steel, exploration licenses have been granted and soon coal power plants

will be developed across the country where the opportunity exists in a clean, responsible and strategic way,” he said. “It is expected that the transmission network will require a minimum investment of $1 billion a year over the next few years to meet current demands and position itself towards global competiveness.

INTERNATIONAL WEEKLY

In collaboration with

Sanctity of Truth

DANIEL BEREHULAK FOR THE NEW YORK TIMES; BELOW, JOHN MOORE/GETTY IMAGES

Resilient Liberia Confronts Ebola Liberians are used to coping with crises like Ebola. Checking an infant’s temperature. Above, a member of a housedisinfecting team.

Monrovia, Liberia

Liberians have become accustomed to living with demons. Long before Ebola arrived, the people here endured 14 years of civil war, one that snuffed out 200,000 lives and ignited acts of barbarism that laid waste to the country. The war produced mad generals who led ritual sacrifices of children

HELENE COOPER

before going into battle, naked except for shoes and a gun. It produced amphetamine-fueled 10-year-old fighters wielding ESSAY M16s while toting teddy bear backpacks, and rapists who wore masks and wedding gowns. When it finally ended in 2003, what was left was a nation of survivors, a place where nearly

every person of a certain age has a painful story to tell. I know this all too well, as a native Liberian who emigrated to the United States. My family has its own war stories. One sister was kidnapped and fought to protect her 1-year-old son while marching for days behind rebel lines. Another sister spent two years — two years

Continued on Page 26

Awash in Apps, Investors Turn to Science Once Again By HIROKO TABUCHI

Vestaron makes an eco-friendly pesticide derived from spider venom. Bagaveev uses 3-D printers to make rocket engines for nanosatellites. Transatomic Power is developing a reactor that runs on nuclear waste. They all have one thing in common: money from Silicon Valley venture capitalists. After years of shying away from science, engineering and clean-technology start-ups, in-

vestors are beginning to take an interest in them again. But these start-ups face intense pressure to prove that their science can turn a profit more quickly than hot tech companies like Snapchat and Uber. In August, the Founders Fund, which has backed social networks, announced a $2 million investment in Transatomic Power of Cambridge, Massachusetts. Days earlier, Y Combinator took part in a $1.5 million early invest-

ment in Helion Energy, which is developing an engine powered by nuclear fusion. And in September, Google said it was buying Lift Labs, a San Francisco biotechnology start-up that makes a high-tech spoon for people with hand tremors “We’re trying to revolutionize pesticides,” said John Sorenson, Vestaron’s chief executive. “Thankfully, venture funders

Continued on Page 27

MIKE MASSEE/XCOR AEROSPACE

Xcor Aerospace, which wants to build a space plane, has raised $14.2 million to work on its fuselage.

INTELLIGENCE

WORLD TRENDS

SCIENCE & TECHNOLOGY

ARTS & DESIGN

An Arab finds the road unwelcoming. PAGE 24

White waiters arrive in Kenya. PAGE 28

Preparing for a mass extinction. PAGE 31

Obscurity ends for an Indian artist. PAGE 34

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

27, 2014 MONDAY, OCTOBER 13,

O P I N I O N & C O M M E N TA RY Cairo My literary works have been translated into 35 languages, and so I have traveled to various countries for numerous seminars and book signings. Despite the amicable way I am treated by people in the book world, in airports I am just another Arab, a potential terrorist. I have no complaint about security measures because they have obviously been instituted for my protection as a passenger. Most security personnel perform their duties in a polite and exemplary manner, but some use the procedures to slight you or to make you understand that you are unwelcome or inferior. The purpose of customs officers at airports is to catch smugglers, but if you look Arabic, or if you are black, or if you are a woman in a head scarf, they make a beeline for you and ask you a seAlaa Al Aswany is the author of the novel “The Yacoubian Building” and other books. This article was translated by Russell Harris from the Arabic. Send comments to intelligence@nytimes.com.

INTELLIGENCE/ALAA AL ASWANY

Traveling While Arab ries of provocative questions that I doubt have anything to do with smuggling. “How many cartons of cigarettes have you got with you?” asked an officer, before she opened my suitcase. I replied that I had a single carton. “Are you sure about that?” she responded. Once, at John F. Kennedy International Airport, I was held for two hours because I objected to the officer’s attitude; another time, at Nice, in France, an officer summoned me by curling his index finger, which I found disrespectful. He examined my passport, then demanded, “What are you doing here?” “I’ve come to buy some cows,” I told him, in earnest. He looked confused: “Cows? But your passport gives your profession as ‘dentist!’ ” “There are some dentists,” I explained (for that is my profes-

EDI TO RI A LS O F THE TI MES

A Rebuke to Egypt Over three decades, the Carter Center in Atlanta, led by former President Jimmy Carter, has sent observers to 97 elections in 38 countries, worked to persuade governments to respect freedoms and human rights, and supported citizens who defend those principles. But it has given up on Egypt. The center recently said in a statement that it would close its Cairo office. “The current environment in Egypt is not conducive to genuine democratic elections and civic participation,” Mr. Carter said as part of the statement, which warned that political campaigning in an already polarized situation “could be extremely difficult, and possibly dangerous, for critics of the regime.” The center’s judgment is a damning critique of Abdel Fattah el-Sisi, a former general who overthrew President Mohamed Morsi, an Islamist allied with the Muslim Brotherhood, in 2013. It also sends two powerful messages to the Obama administration. One is that playing down Mr. Sisi’s repressive tactics is bound to backfire and drive aggrieved Egyptians to violence. The other is that absent a radical shift in Egypt’s approach, there is no way the

American secretary of state, John Kerry, can credibly certify to Congress that the country is on a democratic path. That certification is a condition of Egypt’s receiving $650 million worth of American tanks and fighter planes. It should be withheld until Mr. Sisi shows he is serious about putting in place “a state that respects the rights and freedoms,” which he disingenuously described in a United Nations speech in September. Washington is concerned about upsetting an important Arab ally that honors its peace treaty with Israel and permits expedited passage through the Suez Canal. But the United States must draw a line. It would also be helpful if Israel encouraged Mr. Sisi to abandon his authoritarian course. Mr. Sisi has cracked down on dissidents, opposition groups and journalists. The Carter Center expressed alarm about the mass arrests of Brotherhood leaders and supporters, whom Egypt has unfairly branded as terrorists. More than 16,000 people are in jail for political reasons; more than 1,000 were killed during protests. America must do what it can to persuade Mr. Sisi to abandon this dangerous course.

INTERNATIONAL WEEKLY NANCY LEE Executive editor TOM BRADY Editor ALAN MATTINGLY Managing editor The New York Times International Weekly 620 Eighth Avenue, New York, NY 10018

EDITORIAL INQUIRIES: nytweekly@nytimes.com SALES AND ADVERTISING INQUIRIES: nytweeklysales@nytimes.com

sional occupation), “whose hobby is collecting cows, and I’m one of them.” Finally, he returned the passport and let me proceed. A French police officer of Tunisian origin named Sihem Souid, who worked at Orly Airport in Paris, objected to the racist treatment of Arab and African travelers. She and seven of her colleagues complained about the behavior of other police officers, but nothing was done. Ms. Sihem went on to publish a book, “Omerta dans la police,” that exposed the racist practices at Orly, including the story of an African woman whom an officer referred to as a “filthy black,” and who was strip-searched and photographed, while the officer looked on, laughing. Why do some officials mete out this kind of racist treatment at airports? Clay Routledge at North Da-

kota State University argues that some people crave control, and discriminate against others in order to gratify that desire and boost their self-esteem; for others, racism might provide a stark worldview in which “good” whites and Christians were ranged against “evil” blacks and Muslims. According to the scholar Edward W. Said, in his 1981 book “Covering Islam,” Arabs and Muslims were generally portrayed in the Western media as either oil sheikhs or likely terrorists, while Islam itself was presented as a poorly defined and misunderstood abstraction. It is true, of course, that terrifying and barbarous crimes committed by terrorists in the name of Islam have cast a shadow over the image of all Muslims. But the most basic rule of justice is that criminal responsibility lies with the individual, and not “by association” with a group

that happens to share a religious or ethnic identity. Can all Americans be held responsible for the torture of Iraqi detainees in Abu Ghraib prison? Christianity has had its phases of persecution of so-called heretics, sects, Jews and Muslims, as well as its religious wars, its inquisitions and crusades. Over centuries, such crimes were carried out in the name of a faith that preaches love and tolerance. No one religion is more bloodthirsty than another, or has a monopoly on violent extremism. Just as Islam can be followed as a humane religion that urges tolerance, so, too, can it be twisted to justify terrorism. If we want to make this world a better place for our children, we have to teach them that, different as we may be in color, sex, culture or religion, we are all human beings who feel and think and suffer in the same way. We must put aside our prejudices and deal with one another on the basis of equality and individual responsibility. Only then will a black or an Arab traveler in a Western airport be treated just like anybody else.

PAUL KRUGMAN

What Markets Will In the Middle Ages, the call for a crusade to conquer the Holy Land was met with cries of “Deus vult!” — God wills it. But did the crusaders really know what God wanted? Given how the venture turned out, apparently not. Now, that was a long time ago, and, in the areas I write about, invocations of God’s presumed will are rare. You do, however, see a lot of policy crusades, and these are often justified with implicit cries of “Mercatus vult!” — the market wills it. But do those invoking the will of the market really know what markets want? Again, apparently not. And the recent financial turmoil has widened the gap between what we’re told must be done to appease the market and what markets actually seem to be asking for. To get more specific: We have been told repeatedly that governments must cease and desist from their efforts to mitigate economic pain, lest their excessive compassion be punished by the financial gods, but the markets themselves have never seemed to agree that these human sacrifices are actually necessary. Investors were supposed to be terrified by budget deficits, fearing that we were about to turn into Greece, but year after year, interest rates stayed low. The Fed’s efforts to boost the economy were supposed to backfire as markets reacted to the prospect of runaway inflation, but market measures of expected inflation similarly stayed low. Alan Greenspan once declared the failure of interest rates and inflation to spike “regrettable, because it is fostering a false sense of complacency.” But that was more than four years ago;

maybe the sense of complacency wasn’t all that false? All in all, it’s hard to escape the conclusion that people like Mr. Greenspan knew as much about what the market wanted as medieval crusaders knew about God’s plan — that is, nothing. The real message from the market seems to be that we should be running bigger deficits and printing more money. And that message has gotten a lot stronger in recent weeks. I’m not mainly talking about plunging stock prices, although that’s surely telling us something (but as the late Paul Samuelson famously pointed out, stocks are not a reliable indicator of eco-

The real motivation behind speaking for the invisible hand. nomic prospects: “Wall Street indexes predicted nine out of the last five recessions!”). Instead, I’m talking about interest rates, which are flashing warnings, not of fiscal crisis and inflation, but of depression and deflation. Most obviously, interest rates on long-term United States government debt have fallen sharply. This tells us that markets aren’t worried about default, but that they are worried about persistent economic weakness, which will keep the Fed from raising the short-term interest rates it controls. Interest rates on much European debt are even lower, because Europe’s economic outlook is so

bad. France is currently in conflict with the European Commission, which says that the projected French deficit is too big, but investors — who are still buying French bonds despite a 10-year interest rate of only 1.26 percent — are evidently much more worried about European stagnation than French default. It’s also instructive to look at interest rates on “inflation-protected” or “index” bonds, which are telling us two things. First, markets are practically begging governments to borrow and spend, say on infrastructure; interest rates on index bonds are barely above zero, so that financing for roads, bridges, and sewers would be almost free. Second, the difference between interest rates on index and ordinary bonds tells us how much inflation the market expects, and it turns out that expected inflation has fallen sharply over the past few months, so that it’s now far below the Fed’s target. In effect, the market is saying that the Fed isn’t printing nearly enough money. But why has the market’s pro-spending, print-more-money message become louder? My guess is that it’s mainly driven by events in Europe, where the slide into deflation and the backlash against austerity have reached a tipping point. It’s reasonable to worry that Europe’s problems may spill over to the rest of us. In any case, the next time you hear some commentator opining on what we must do to satisfy the markets, ask yourself, “How does he know?” For the truth is that when people talk about what markets demand, what they’re really doing is trying to bully us into doing what they themselves want.

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

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 27, 2014

Sanctity of Truth

WORLD TRENDS

In War on Graft, China Infers Guilt By ANDREW JACOBS and CHRIS BUCKLEY

BEIJING — He was starved, pummeled and interrogated for days in an ice-cold room where sleeping, sitting and even leaning against a wall were forbidden. One beating left Wang Guanglong, a m i d l e ve l official from China’s Fujian Province, partly deaf, according to his later Zhou testimony. SuiYongkang cide, he told his lawyers afterward, tempted him. In the end, he said, he took a deal: He signed a confession acknowledging he had accepted $27,000 in bribes, wrongly believing he would be released on bail and able to clear his name of a crime he says he did not commit. “He did what they told him to do in order to save his own life,” his sister, Wang Xiuyun, said. China is in the midst of a campaign against government corruption, one that has netted more than 50 high-ranking officials and tens of thousands of workaday bureaucrats as part of President Xi Jinping’s effort to restore public confidence in

Confessions are coerced; access to evidence is limited. the ruling Communist Party. But admirers of the antigraft blitz overlook a key paradox of the campaign, critics say: Waged in the name of law and accountability, the war on corruption often operates beyond the law in a secretive realm of party-run agencies. Legal scholars and lawyers who have represented fallen officials said defending them was especially difficult, even by the standards of a judicial system tightly controlled by the party. The biggest challenge, they said, begins the moment an accused official disappears into the custody of party investigators for a monthslong period during which interrogators seek to extract confessions, sometimes through torture. Known as shuanggui, it is a secretive, extralegal process that leaves detainees cut off from lawyers, associates and relatives. “It deprives citizens of their fundamental rights,” said Mao Lixin, a lawyer who represented Mr. Wang. But even after a case leaves the hands of party investigators and enters the criminal justice system, lawyers say, they have limited access to evidence, witnesses and their clients. And trials, they say, are often hasty affairs that ignore defendants’ allegations

of coercion and torture. Guilty verdicts are rarely in doubt. Of the 8,110 officials who received court verdicts on bribery and graft charges in the first half of this year, only 14 of the defendants were cleared of charges. “There are too many cases of unjust and false verdicts,” said Shen Zhigeng, a defense lawyer who has represented scores of government officials. “What ordinary people hate most isn’t corruption, it’s the abuse of the law.” Mr. Wang, 51, was sentenced in November to 10 years in a trial based largely on his confession. “We believe that in reality we’re still working inside an old system that hasn’t gone through any fundamental change,” said Li Xiaolin, a lawyer who for a time represented Bo Xilai, the former Politburo member serving a life sentence on corruption charges. Many lawyers view the case of Zhou Yongkang, the former domestic security chief who is facing charges of violating party discipline, as a test of whether party leaders are truly committed to legal reform. Few expect the proceedings to adhere to international norms. Analysts expect Mr. Zhou will be found guilty during a trial choreographed to give the impression of due process. Wang Qishan, who oversees the party’s anticorruption agency, has said that corruption investigations should adhere to “rule of law,” and that cases should be given to the legal authorities more quickly than they are now. In August, he said the campaign would take years, given the entrenched habits of corrupt officials. “It’s like quitting smoking and drinking,” he said. “Can you stop smoking or drinking just like that?” So far, Mr. Xi and Mr. Wang have racked up detentions and arrests that have surpassed even the boldest expectations when they took their posts in 2012. In the first half of this year, the party punished some 84,000 members for infractions of discipline, with penalties ranging from demotions to ejection from the party, according to official statistics. “The party and country’s fate has been put in our hands, and we must shoulder this responsibility,” Mr. Xi said, according to a party newspaper in August. But his rallying cry has yet to win over many Chinese lawyers, who say that without systemic change, the campaign is bound to fail and rampant corruption will eventually reemerge. Borrowing Mr. Xi’s often repeated metaphor of tackling “both tigers and flies” in his drive to uproot graft, Mr. Li, the lawyer who represented Bo Xilai, said, “When your cesspool is still there, and the flies are drawn by the odor, then you can never swat them all.”

PHOTOGRAPHS BY BRYAN DENTON FOR THE NEW YORK TIMES

Journey Through the Ages in Iraq By TIM ARANGO

BAGHDAD — Saad al-Tammimi is in his fourth decade working for Iraq’s railroads, a career that has taken him all around his country and the Middle East. Now, though, he can go only from Baghdad to Basra, across the relatively calm Shiite-dominated south of this war-torn country. “If we have a problem and have to stop, it’s safe,” he said on a recent evening as he drove his regular train route. “Even the Sunnis feel comfortable going to Basra.” With so much violence, neglect and political dysfunction here, it has been years since passenger trains leaving Baghdad went anywhere other than Basra. Grand ambitions to link the country by railroad had begun taking shape. Freight trains shuttled goods around Iraq, and a few years ago there were test runs of a new train service between Mosul and Turkey. But as the militants of the Islamic State have advanced around the country, those efforts have halted. Mr. Tammimi’s new train glides out of the station at dusk and through the thicket of this city. It almost kisses the storefront awnings and low-slung homes that line the track as it moves past waving families, boys playing soccer and trash being burned, before reaching the rural south, past endless rows of date palms, on an overnight journey. Inside are the luxuries of firstclass rail travel, including flatscreen televisions and refrigerators in the sleeper cabins. Young army recruits, answering the call to arms from their Shiite religious leaders and on their way to basic training, crowd the brightly lit cafe car. The new train, built in China, is a small sign of progress — of oil money spent in the interests of the public — in a country consumed by violence and corruption that is quickly coming apart in the face of an onslaught by the Sunni militants of the Islamic State, also called ISIS or ISIL. Once, the region was connectOmar Al-Jawoshy and Falih Hassan contributed reporting.

Plans to unite Iraq with a $60-billion rail project have been delayed by violent ISIS militants. Passengers traveling to Basra. ed by trains; building rail lines was central to the imperial ambitions of European powers — the Germans, the British and the French — to exert influence in the Middle East when the region was part of the Ottoman Empire. In more recent times, sectarian violence has torn apart diverse societies, and the areas reachable by trains have steadily shrunk. “Before was different,” said Ahmed Ali, who for 31 years has worked for Iraqi Republic Railways. “I used to meet the educated people, the uneducated, the actors, the poets, the poor man. Many different groups.” He add-

A first-class Chinese train, but only one route to use it on. ed, “Now, everything is gone.” Mr. Ali recalled trips to Mosul, where he would visit the city’s famous shrines, and buy pistachios to bring back to his family in Baghdad. For months now, Mosul, Iraq’s second-largest city, has been under control of the militants, and many of those historical sites have been destroyed. On alternate nights, a train built by the French and in operation for almost three decades makes the same trip. That train may lack amenities, but it has an abundance of charm with its wood paneling and velvet seats. Ehab al-Shiekhly stood recently under a chandelier in the grand

foyer of Baghdad Central Station, built by the British and opened in 1953. “Sometimes I just sit here and take pictures of the dome,” said Mr. Shiekhly, 41, who has worked here since he was a teenager. “It reminds me of the old days of Iraq, when it was safe.” The station itself is a time capsule. A sign reads, “Booking for Mosul Train.” One booth is where passengers once bought tickets to Turkey, Syria and Anbar Province. “Now you have to take tanks or jet fighters to get to these places,” said Ahmed Abdulrahman, 50, who has worked at the station since the late 1970s. Ali Abdul Hussein, a rail worker for 24 years, recalls the old bar car. There, during the rule by Saddam Hussein’s secular, but brutal, Baath Party, the favorite drink was Grant’s whisky. Today there is no alcohol, a reflection of the religious mores that have dominated Iraqi life since 2003. As the country is being pulled apart by the insurgency, many men of the railways are dreaming of knitting it back together. In his office at the station, Hamid Ali Hashim, a project manager, outlines a route from Jalawla in the northeast, a city that has seen fierce fighting against ISIS militants, to Sulaimaniya in the Kurdish north, and across to Mosul. It is one piece of an ambitious, $60 billion rail project that at this stage feels aspirational at best — one that Mr. Hashim said “would mean all the villages and cities in Iraq would be linked.” “This,” he said, with a degree of optimism rare in Iraq these days, “is the goal.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 27, 2014

WORLD TRENDS

Timeless Impulse To Create

JOHN MOORE/GETTY IMAGES

Liberians do their best to navigate around the threat from the Ebola virus, which has killed 2,500 people in the country. A team taking away the body of a woman’s sister in Monrovia.

Resilient Liberia Confronts Ebola Continued from Page 23 — hiding deep up country in an area known only as Territory 3C after witnessing gunmen disembowel a co-worker in front of his son. I have long stopped asking people what happened to them during the war. But as I moved in recent weeks around this city where I was born, reporting about the Ebola epidemic, I was aware of this: There is a strength here that I had never before realized. My friend Wael Hariz, a Lebanese citizen living here who had been away for a couple of months, said he came back in late September expecting the worst, after watching the coverage of Ebola overseas. Standing just off Tubman Boulevard, Monrovia’s main road, he looked at the cars and pedestrians going by. “I had forgotten, after what they’ve been through, how resilient people here are,” he said. They came by that resilience the hard way. This is a beautiful place, where tropical rain forests give way to pure white sandy beaches. But the average Liberian lives on $1.25 a day, has no access to clean water and does not have a flush toilet at home. The average Liberian lives with mother, father, auntie, uncle and second cousins, sharing mattresses in cramped two-room shanties. When one of those family members gets sick, the average Liberian takes muddy, potholed dirt roads to Tubman Boulevard to hail a taxi to get to the nearest clinic. When Comfort Fayiah, 32, was turned away last month from a private hospital, she gave birth to twins in the dirt near Du Port Road. A local woman and man delivered the two girls. The new demon, of course, is Ebola, which has killed around 2,500 Liberians and has struck close to double that number, crippled the country’s health system, ground the economy to a standstill and made international pariahs of anyone with a Liberian passport. But many Liberians are treating the disease with much the same resignation as the killers

of the past — accepting that the threat is there, and doing their best to navigate around it. They wash their hands with chlorine, they walk up to the laser thermometers at the entrances of public buildings to check their temperature. They still take care of family members who fall ill because there is no alternative. I have been trying to be as unruffled as my Liberian compatriots, but I’ve been living in the United States for too long now. I have been consumed with worry. My oldest sister is a health care worker in Liberia who is deeply involved in the Ebola response. Another sister, Eunice, is a pensions manager at the Firestone rubber company; every day pensioners line up outside her office 56 kilometers from Monrovia and reach their hands toward her to receive their checks. My 9-year-old

A history of warfare has produced a nation of survivors. niece, Nyepu, who has sickle-cell anemia, has been locked in the house since July. I have nightmares that she will escape. Packing to come here, I brought rehydration tablets for one sister, a box of latex gloves for the other and a portable DVD player for my niece. Visiting Eunice and her family, I admonished Nyepu not to touch me — I had been in an Ebola treatment unit. Two days after I arrived in Monrovia, news broke that an Ebola case had been diagnosed at Texas Health Presbyterian Hospital in Dallas, the first in the United States. American officials said they were not releasing the name of the patient, citing confidentiality, but Liberia’s health minister, Dr. Walter T. Gwenigale, was having none of it. “There is no privacy in Ebola,” he said. Everyone in Monrovia was talking about the case of Thom-

as Eric Duncan, the patient in Dallas. The biggest question here was whether the United States would prevent Liberians from traveling to America. It is not as if many of them get visas anyway. But what if President Obama pulls out the United States troops he has sent to build treatment units? When Mr. Duncan died, the first Ebola fatality in the United States, there was suspicion in Monrovia of both governments. “They wanted him to die, to teach us a lesson” not to try to go to America in hopes of surviving the disease, a friend told me. Her tone was matter of fact. Life here comes with a higher level of risk. A week or so ago, I went up country to cover President Ellen Johnson Sirleaf. I stayed overnight in Gbarnga, but had to return to Monrovia, four hours away, at 5 a.m. A member of the president’s security detail whom I know, Varsay Sirleaf, hopped into the car with me. “She doesn’t want you going alone,” he said. I knew it was pointless to argue. Besides, the road was potholed and dark. About 30 minutes after setting out, on the blackest stretch of the road, the headlights picked up a form on the side. “Stop!” Varsay yelled. “That’s a body!” He jumped out of the car, grabbing a flashlight and a pistol. “Lock the doors,” he said, and took off. My mind immediately went to the civil war, to magic soldiers jumping out of the bush. It was quiet except for my heart beating. Finally, Varsay returned. “He wasn’t dead,” he said. “He was drunk. I woke him up, and he went into the bush.” I couldn’t believe he had just gone up to a body on the side of the road. “It could have been an ambush!” I cried. “He could have had Ebola!” Varsay looked at me. “That what y’all do in America?” he asked. He turned back toward the front, looking ahead. Then, he spoke again. “You can’t just leave somebody on the side of the road to die.”

What inspires humans to leave their mark on the world? A quest for immortality? A fear of being forgotten? Whatever the answer is, it goes back LENS tens of thousands of years. As evidence, consider cave paintings on the Indonesian island of Sulawesi. New research, detailed in the journal Nature, suggests the paintings are at least 39,900 years old. The cave art was previously thought to be no more than 10,000 years old, but researchers used a uranium decay technique to date the paintings of 12 human hands and two figurative animal depictions. The new dates, The Times explained, “challenge the long-held view” that Western Europe was the center of such creativity at that time. Nicholas Conard, an archaeologist at the University of Tübingen in Germany, suggested that such cultural innovations followed modern Homo sapiens as they spread around the globe. “One would expect different regions to have distinctive signatures and to contribute to the story in their own way,” he told The Times. Whatever the origin, creative expression is a central thread in the human experience, and three jewelry designers profiled recently in The Times have made it their mission to bring one older artistic tradition into the present. Amedeo Scognamiglio and Wilfredo Rosado are transforming an art form that is hundreds of years old: sculpted cameo images on Mediterranean seashells, corals and volcanic lava stones. The art form was once used “to depict Roman gods, exotic animals, floral bouquets or the titled aristocracy of Europe,” The Times noted. These days, Mr. Scognamiglio, a native of For comments, write to nytweekly@nytimes.com.

Italy, peddles his wares, including rings and necklaces, at his stores in New York and Tokyo. “I wanted to bring cameos into the 21st century,” he said. Mr. Rosado, based in New York, likewise creates modern pieces, with racier designs like a topless woman with a pink sapphire on her nipple. “When you think of cameos, they’re fuddy-duddy, old and dusty,” he said. “They were considered sort of radical and new when they were first invented hundreds of years ago, but nobody had brought a level of sexiness to them.” Julie Wolfe, a jewelry designer in Washington, also incorporates vintage cameos into her work. “I think people are looking for jewelry that has a soul and has a story,” she told The Times. Yet it isn’t just the soul that goes into the art of creating. It is also, for many artists and

For many writers, watching the clock is important. writers, a matter of practical considerations like scheduling and perseverance. As The Times columnist David Brooks wrote recently, imaginative thinking is often a product of routine and discipline. Maya Angelou, for example, would routinely wake up at 6 a.m., settle into her room dedicated to writing by 7 and remain there, working, until at least lunchtime. John Cheever and Anthony Trollope were also dedicated to writing routines, Mr. Brooks pointed out. Such creators “think like artists but work like accountants,” he wrote. “People who lead routine, anal-retentive lives have a bad reputation in our culture,” Mr. Brooks explained. “But life is paradoxical.” Indeed. Poetry may come to mind at any fleeting moment. But sometimes, inspiration needs a deadline. TESS FELDER

KINEZ RIZA/AGENCE FRANCE-PRESSE — GETTY IMAGES

Cave paintings in Indonesia that may be nearly 40,000 years old throw into doubt the origins of creativity.

MONDAY, OCTOBER 27, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

WORLD TRENDS

Barred Runner Fights to Remain Who She Is GRAHAM CROUCH FOR THE NEW YORK TIMES

Dutee Chand, India’s 18-and-under champion at 100 meters, is appealing a track governing body’s ban on her competing. By JULIET MACUR

Dutee Chand loves her long, dark hair, which is often pulled back into a tight ponytail, and the toned biceps she likes to show off with tank tops. She believes that the body she was born with makes her the woman she is now, at 18. But last summer, Ms. Chand, India’s 100-meter champion in the 18-and-under category, was barred from competing against women. She has a condition called hyperandrogenism, and her body produces levels of testosterone so high that they place her in the male range in the eyes of international track and field. Following a rule by the International Association of Athletics Federations, track’s governing body, the Athletics Federation of India will allow Ms. Chand to compete if she lowers her testos-

terone level beneath the male range. She can do that with drugs or surgery. Her response? “It’s wrong to have to change your body for sport participation,” she said. “I’m not changing for anyone.” Last month, she filed an appeal with the Court of Arbitration for Sport in Switzerland. “It’s like in some societies, they used to cut off the hand of people caught stealing,” Ms. Chand said of the idea of medically altering her body. “I feel like this is the same kind of primitive, unethical rule. It goes too far.” Ms. Chand’s situation has highlighted one of the most perplexing issues facing sports and society: that there is no indisputable way to draw a line between male and female. Olympic sports have chosen to set a limit on testosterone, because it is known

to increase strength and muscle mass, and to help bodies recover from workouts. “We’ve come up with an imperfect solution, but there’s no easy way around this,” said Eric Vilain of the University of California, Los Angeles, who helped create the International Olympic Committee’s policy. “The other solution is mixing genders for competitions, and that wouldn’t be fair to women.” One recent study on women competing at the 2011 track and field world championships found that 7 in 1,000 had hyperandrogenism and some blend of male and female anatomical characteristics. That’s 140 times more than expected in the general population. During her appeal, Ms. Chand will remain in limbo, worried that her childhood dream will perma-

nently derail. The daughter of weavers who make about $8 a week, Ms. Chand was about 4 when she started tagging along with one of her six siblings for workouts on a local track. By the age of 10, she was training in a national program, sending home prize money. With her financial help, her parents moved out of their two-room mud hut into a fourroom house. She was an Olympic hopeful on India’s roster for the Commonwealth Games in July when she was pulled from the team. Evidently, an official or a competitor at the Asian Junior Athletics Championships in June, where Ms. Chand had won two gold medals, had requested that she be tested. Doctors poked and prodded her, took her blood, and sent her for a magnetic reso-

Investors Turn Again to Science Continued from Page 23 are starting to invest again in real, hard-core science.” Industrial and energy startups attracted $1.24 billion in American venture capital financing in the first half of 2014, more than twice as much as in the period a year earlier, according to statistics from the National Venture Capital Association. Still, investment remains well below peaks reached in 2008, when industrial and energy start-ups attracted $4.64 billion. The investments are still dwarfed by the money pouring into other kinds of technology companies. Software start-ups attracted $11.2 billion in venture capital financing last year. Investors partly feel betrayed by the billions of dollars they lost on the clean-tech boom and bust, when backers of solar panels and futuristic batteries promised to change the world, but the companies mostly flopped. But there is a growing feeling, investors say, that Silicon Valley has been avoiding the world’s more difficult problems, a sentiment cap-

tured by a Founders Fund motto: “We wanted flying cars, instead we got 140 characters.” “I’m just so interested in anything that gets me closer to an Iron Man suit,” said Adam Draper, the chief executive and founder of Boost VC. One of the companies that Boost has mentored is Bagaveev, a start-up using 3-D printers to make rocket engines

‘We wanted flying cars, instead we got 140 characters.’ that launch nanosatellites, a type of satellite that may weigh as little as a kilogram. “Social media’s already happened,” he said. Venture capital “is supposed to be about funding what comes next.” Transatomic Power, founded in 2011 by nuclear scientists at the Massachusetts Institute of Technology, is in the early stages of developing small-scale

molten-salt reactors that could generate reliable, clean energy without creating nuclear waste. The start-up would need far more funding, or a partner, to start building the reactors. “The world needs a source of stable, cheap electricity, and a new approach to nuclear power would seem like an obvious solution,” said Leslie Dewan, the chief executive of Transatomic Power. “But it’s tricky getting $300 million from investors. ” Vestaron, a pesticide company started in 2001, has lofty goals in agriculture and food, a specialty basking in newfound attention from Silicon Valley. Vestaron says its spider-venom insecticide controls beetles, caterpillars and other pests without harming other animals. The insecticide, the company says, reduces agriculture’s environmental footprint, makes work safer for agricultural laborers and overcomes the resistance pests have built up to other pesticides over the years. The company has a target of $1 million in sales in the first year. Even when science start-ups attract money, they are pres-

nance imaging exam. After Ms. Chand’s name was dropped from India’s announced roster, Payoshni Mitra, a researcher and activist on gender and sports, tracked down Ms. Chand and explained what was happening to her. She urged Ms. Chand not to consent to drugs or surgery too soon, and suggested she appeal her case. Ms. Chand’s supporters have persuaded the Sports Authority of India to back Ms. Chand’s appeal. Most important, they have probably spared Ms. Chand untold pain. Others have not been as fortunate. Four female athletes at the 2012 London Olympics were flagged and were found to have a mix of male and female anatomical features. They ended up having surgery to remove their testes. But a study published last year reported that those athletes also had medical procedures that had nothing to do with lowering their testosterone levels for sports: a reduction to the size of their clitorises, feminizing plastic surgery and estrogen replacement therapy. “We don’t know what was said to these women,” said Katrina Karkazis, a researcher in bioethics at Stanford University in California. She added, “At least this time we got to the athlete before any interventions were done, and we’ve spared one person from that colonial mentality.” Ms. Chand has said that if she loses her appeal she will pursue coaching. But she is not giving up yet. Recently, she watched the documentary “Too Fast to Be a Woman?” about Caster Semenya, a South African runner who was banned and reinstated after being forced to undergo humiliating gender testing in 2009. Ms. Chand was overwhelmed with emotions. “Look, I’m not alone,” she said. “There are other people like me.”

John Sorenson, the chief executive of Vestaron, which invented a pesticide made from spider venom.

ADAM BIRD FOR THE NEW YORK TIMES

sured from the beginning to think about profit. For Xcor Aerospace in Mojave, California, that meant putting aside its long-term goals of building suborbital space planes and focusing instead on developing rocket-engine igniters to sell to NASA, the American space agency, and aerospace companies. With a steady stream of income, Xcor was able to put the engine on the back of an experimental aircraft to test its space plane concept. After raising $14.2 million in May through the Space Angels Network, a group of angel investors in the aerospace field, Xcor is putting together its plane’s fuselage.

“They knew that you couldn’t come and ask for a billion dollars to build a space plane,” said Chad Anderson of the Space Angels Network. “So what they started with was the smallest component they could make that had commercial value.” Bagaveev raised just $535,000 in seed funding in April to develop its reusable satellite launchers — a technology that Nadir Bagaveyev, the company’s chief executive, says will help open outer space to small companies. “We’re like the UPS of space,” Mr. Bagaveyev said. “You bring it to us, and we promise to bring it up within a week to a month.” The start-up is planning its first test launch at the end of the year, and Mr. Bagaveyev hopes that will help the company attract more investment. “We’ll show what we’re capable of, and then we’ll be back for more investment,” he said. “I think investors are bored with investing in another messaging app. And our idea is crazy enough that it might just work.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 27, 2014

WORLD TRENDS NAIROBI JOURNAL

A Curiosity At Tables: Whites By JEFFREY GETTLEMAN

URIEL SINAI FOR THE NEW YORK TIMES

Jewish emigration from Israel to Germany is contentious. Two Israelis arguing in Tel Aviv.

For Young Israelis, Exodus to Berlin By JODI RUDOREN

TEL AVIV — Ori Haber’s father escaped Germany during the height of the Holocaust for what would become the State of Israel. Now Mr. Haber, a 35-yearold computer technician, is part of a cadre of frustrated young Israelis clamoring to move to Berlin in what has become a contentious campaign revealing economic fissures and identity struggles in Israel’s still-adolescent society. “I cannot see the future here,” he said, without a touch of irony at the idea that an Israeli Jew was looking for a better life in Germany. “The middle class in Israel is going down. We feel it in our flesh.” Even his father seemed to understand, Mr. Haber said: “He has bad memories from Germany, but still he is like, ‘If you have the opportunity, go, try your luck.’ ” Israelis have for years been drawn to Berlin’s cosmopolitan flair, vibrant arts scene and advanced public transportation. There are already several places in the city where one can have authentic hummus, and there is a bimonthly Hebrew- language magazine. But a Facebook post that recently went viral, a photograph of a receipt showcasing the low price in Berlin of a beloved snack, has revived a raw debate over the meaning of outmigration. Pundits and politicians have denounced those who want to leave as anti-Zionist traitors. The news media have been filled with diatribes against Israel’s cost of living, dissections of food costs, and reports intended to debunk the benefits of Berlin. The person behind the Facebook post insisted on anonymity because he said he had received death threats. Analysts attributed the interest in emigration to the failure of a 2011 protest movement that drew 400,000 to the streets, calling for economic changes. The latest flare, they said, highlights Israel’s insecurity, particularly after a summer of war and amid signs of growing international isolation and rising

European anti-Semitism. Last year, after two Israelis who live abroad won Nobel Prizes, a similar outcry erupted over a feared brain drain. “Israel is like an extremely insecure husband who needs to be reassured in every passing moment that his wife still loves him,” said Aviad Kleinberg, a historian at Tel Aviv University who wrote in a recent column that the backlash was overblown. “We live in a state of constant existential threat,” said Aviad Kleinberg, a historian at Tel Aviv University who wrote in a recent column that the backlash was overblown. “There is this feeling that we’re always just a minute away from the trains’ leaving for Auschwitz.” That the object of desire is Berlin has only heightened emotions. “People move to where Hitler designed the Final Solution and

A clash of identity and economics in an insecure nation. do it happily?” said Aluf Benn, editor of the daily newspaper Haaretz. “The Holocaust is the most important pillar of Israeli education. Going to Berlin is like, ‘Have you learned anything?’ ” Official estimates of Israelis living in Berlin range from 5,000 to more than 15,000. Asaf Moses, 32, said there were “no Israelis around” when he moved to Berlin a decade ago, but now he could hardly walk a kilometer from home “without picking up some Hebrew from the sidewalk.” There are at least three Israeli restaurants in Prenzlauer Berg, a central neighborhood near a synagogue and Jewish cemetery. What began as a casual monthly book exchange over coffee has grown into a Hebrew lending library with 2,000 volumes. “Our community is growing every day,” said Diana Reizman,

32, who moved to Berlin as a student and now owns Elfenbein, a kosher cafe. “Israel will always be the place where you go when you have nowhere else to go, but eventually you have to pay your bills.” Sergio DellaPergola, a leading demographer, said emigration was actually lower now than at any time in Israel’s 66-year history. Far more people left Israel in the 1970s and 1980s, when inflation skyrocketed, he said. But facts seem to matter much less than feelings. The uproar began on September 29 with the creation of a Facebook page called “Olim L’Berlin,” the very name of which some found offensive for appropriating a Hebrew word — literally, “those who go up” — usually reserved for immigrants to Israel. It intensified on October 4 with the posting on that page of the receipt, which included pudding topped with cream for .19 euros. Israel’s beloved version, under the brand name Milky, goes for three times that price. Milky became the symbol of a revolution. The 25-year-old behind Olim L’Berlin, who said that he had moved to Germany in May after serving in the Israeli Army, said the receipt had gotten “80,000 views in a few hours.” Responding to a call on the Facebook page, about 100 exit-seeking Israelis gathered on a recent night in Tel Aviv’s Rabin Square. Many milled about sharing aspirations for an easier life. There was a 40-year-old Ph.D. candidate in an “I ♥ Berlin” T-shirt and an underemployed graphic designer who had memorized a several-minute speech in German on why he was worthy of a work visa. But Eliran Levy, 28, recently moved back after six months in Germany. Employers prefer natives, or at least fluent German speakers, he said, and so do landlords. Friends were slow in the making. “I felt very lonely there — it’s such a different culture,” Mr. Levy said. “Fulfilling life dreams is not the product of low prices at the supermarket.”

NAIROBI, Kenya — There’s a newcomer on the Nairobi restaurant scene: the White Waiter. The other night, Martin Mileveski, a smiley young man from Macedonia, leaned over a table of three immaculately dressed Kenyan women and delicately poured the Captain Morgan rum. “Anything else I can get you ladies?” They smiled and he drifted away. “That’s kind of cool,” said one of the women, Lawrencia Namulanda. “A mzungu,” or foreigner. Kenyans don’t usually see working-class mzungus. White visitors and residents tend to be professionals, diplomats or safarigoers — people with means. But Kenya’s business landscape is changing at dizzying speed. International franchises are racing to set up shop here — Subway, Domino’s, Cold Stone Creamery and other big worldwide brands that had stayed away from this region but now want a piece of East Africa’s fast-growing pie. Nothing, though, may signify that Kenya has arrived more than the sight of a white man with sweat trickling down his temple, hustling trays of drinks and sweeping up steak scraps with the edge of his hand. That’s what you see at Caramel, a new restaurant with a humidor, a private lounge, $450 shots of Louis XIII de Rémy Martin Cognac and outside labor. The other night Caramel featured a hostess from Las Vegas, a leggy bartender from San Diego, a chef from Goa, Mr. Mileveski and another young man from Macedonia. The foreigners made up a small percentage of the total staff but were definitely the most visible. Some said they were here for just a short time, to train Kenyans; others said they planned to stay awhile.

“I see job in Internet, I come Africa,” said Nenad Angelovski, the other Macedonian import, whose English was not nearly at the level of the Kenyan waiters. “I like Africa. I like adventure.” There have previously been a handful of Westerners running restaurants here, the occasional Italian maître d’hôtel or Israeli manager helping bring a hot plate to a table or making a wine suggestion. But when Caramel opened in September, the word quickly spread: mzungu waiters. Many Kenyan customers said it was the first time they ever had their dirty dishes cleared by a white person. “We never had anything like this in Nairobi,” said Cecilia Wairimu, a well-known Kenyan singer who recently

Foreign franchises, and waiters, are flocking to Kenya. dined at Caramel. “I think it’s awesome.” Economic growth in Kenya last year was nearly 6 percent, and the country is on a retail binge. Malls are going up everywhere, with high-end retail space set to double or even triple in the next few years. Caramel is in a mall, ABC Place, which just underwent a face-lift. One Kenyan couple on a recent evening seemed amused by the mzungu factor. “I think it’s going to work,” said the woman, who asked not to be identified because she knew one of Caramel’s investors. She added: “Where else in this country are you going to get a mzungu waiter? It’s a bit of a screwed-up mentality, but some people have a post-colonial hang-up, and if they can turn the tables, they’ll pay a premium for that.”

SVEN TORFINN FOR THE NEW YORK TIMES

At Caramel, a new restaurant, customers being served by Martin Mileveski, who was imported from Macedonia.

MONDAY, OCTOBER 27, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

WORLD TRENDS

In Barcelona, the Past Recedes as Rents Rise By RAPHAEL MINDER

BARCELONA — In the center of Barcelona’s old city, a historic bookshop is being turned into a store for Mango, the giant clothing retailer. A maker of combs, founded in 1922, is now a big-name bag store. And a toy store, owned by the same family since the Spanish Civil War, has been converted into an outlet for Geox, the Italian footwear company. The changes are more than the result of the kind of creeping gentrification that has reshaped so many cities worldwide. Here, and across Spain, historic districts are being transformed as tens of thousands of small, often family-run shops face the end of decades of rent controls this year. The establishments had 20 years’ warning, but now, finally, are resisting as small shops are pushed from historic districts by an inundation of international brands which can afford the huge increases in rents. The rapid turnover has spurred soul-searching about just how far the city should go to protect its distinctive character in the face of the homogenization. The removal of traditional stores from the old city center,

ONLINE: LOSS OF PATRIMONY

PHOTOGRAPHS BY GUILLEM VALLE FOR THE NEW YORK TIMES

More images of family-run businesses under threat: nytimes.com Search La Colmena

Xavier Banchs, left, owns the Palacio del Juguete (the Toy Palace), founded by his family in 1936. He had to move to a storage room when the rent at the shop’s former space went from 1,000 to 35,000 euros. Above, El Indio, a fabric store that was founded in 1870.

known as the Gothic Quarter, is “a criminal loss of patrimony in a city that is getting drowned by big money and international brands and is losing all sense of history, order and proper urban planning,” said Josep Maria Roig, the owner of La Colmena, a pastry shop founded in 1872. Mr. Roig estimates that 100 more stores will shut their doors in Barcelona this year because their owners cannot afford the higher rents. Across Spain, about 200,000 store owners may be affected, according to the union that represents independent store owners. Xavier Banchs, the toy store owner here, used to pay 1,000 euros, or about $1,275, a month in rent for his shop, the Palacio del Juguete (the Toy Palace), which his family has owned since 1936, when Spain’s Civil War started. He handed it over to Geox, which is paying about 35,000 euros a month for his former shop, according to Mr. Banchs. Geox

also paid him some extra cash to move out and cover the cost of laying off three employees. He now rents a former storage room for 800 euros a month. While many store owners have cut similar deals, a significant number have chosen to fight the changes, demanding that Barcelona’s City Hall grant them special protection as owners of stores that have emblematic value for the city. Their requests are under review. Spain’s rent controls were adopted in 1964, in the midst of the Franco dictatorship, when the regime decided to protect shopkeepers. In 1994, the law was revised under the Socialist government to ensure that rents would eventually adjust to the market, giving property and store owners 20 years to agree on new terms. “There were 20 years to solve the problem, but last-minute improvisation is a trait of the Latin character,” said Raimond Blasi,

Barcelona’s city councilor for commerce. Mr. Roig recently took the city to court for not fully protecting a building that housed Monge, a stamp shop that closed in August. The new owner plans to convert Monge into a shopping gallery

Fears that chain stores will take over the Gothic Quarter. and move the building’s historic wooden facade to the other side of the building and replace it with a larger entrance. “Do we really want tourists to go home only with souvenirs from a shopping gallery that are made in China and have zero to do with Barcelona?” Mr. Roig asked.

Mr. Roig saved his pastry shop by signing a new, 15-year rental contract with the building’s owner that will raise his rent to 7,500 euros from 1,000 euros a month. Mr. Roig said the owner had better offers, but was persuaded to allow La Colmena to survive. The rent deadline comes amid a wider debate in Barcelona about what kind of tourism the city can sustain. Barcelona has become Spain’s tourism hub, drawing a record 7.5 million visitors last year. Ada Colau, who is expected to run for mayor, said that she and her family had in fact stopped going to the Gothic Quarter because it was overwhelmed by foreign tourists and global brands. “The main attraction of Barcelona is a certain way of living, but we’re allowing this to get replaced by what I would call a fast food model,” Ms. Colau said. “The traditional stores are getting evicted and the big multinationals are winning.”

Public Profile for Afghan First Lady By DECLAN WALSH and ROD NORDLAND

KABUL, Afghanistan — For more than a decade, the Afghan first lady, Zeenat Karzai, was virtually invisible. Sequestered in the high-walled presidential palace, she appeared to have abandoned her career in medicine and was only rarely allowed out in public by President Hamid Karzai. The new president, Ashraf Ghani, is moving quickly in the opposite direction. During his inauguration speech recently, Mr. Ghani’s voice crackled with emotion as he paid tribute to his Lebanese-born “life partner and beloved wife,” Rula Ghani. A murmur ran through the crowd. It was a symbolic moment. Many Afghan men are reluctant to talk about their wives with other men in private, let alone before a crowd. Not only did Mr. Ghani introduce the first

Clerics criticize a leader whose wife will be active. lady publicly, he announced that she would have a public role in advocating for women, children and the internally displaced. Among the mostly urban Afghans who have supported the widening freedoms for women, it was an occasion to be celebrated. “Not only did he say her name, he said it with pride,” said Hasina Safi of the Afghan Women’s Network. “This is really a big deal in this country.” Just as predictably, religious conservatives were critical. “Nobody has seen her convert to Islam,” Maulavi Habibullah Hasham, of the Bagh Bala mosque

in Kabul, said. “I believe her mission is to convert people to Christianity.” Mrs. Ghani is a Christian who met her husband at a university in Beirut, Lebanon, in the 1970s and moved with him to the United States. The cleric’s comments echoed slurs employed by Mr. Ghani’s rivals during the election. Mrs. Ghani’s initial public foray was a brief and deferential speech commemorating International Women’s Day in March. Speaking in halting Dari, she noted the importance of women’s traditional roles as homemakers and mothers, while suggesting they could “use these skills outside the home as well.” Atta Mohammad Noor, a powerful regional governor, led the public attacks that followed, while scurrilous claims circulated on social media: a doctored photograph showing Mr. Ghani

MASSOUD HOSSAINI/ASSOCIATED PRESS

worshiping in a Christian church, and accusations that his wife was an Israeli agent. The controversy was a reminder that for all the gains made by Afghan women over the past decade — soaring education rates and solid representation in Parliament, among others — obstacles remain. Mrs. Ghani studied in Paris, Beirut and New York, where she graduated from Columbia University. Friends say that she has a softer, more composed de-

President Ashraf Ghani of Afghanistan, with his wife Rula, announced that she would advocate for women, children and the displaced.

meanor than her husband. “If it wasn’t for Rula’s wisdom, I don’t think Dr. Ghani would have had so much success,” said Seema Ghani, a family friend. Mr. Ghani is a feminist by conviction, Seema Ghani said. “His grandmother, who was an authoritarian, had a great influence on him,” she said. “He was the first person to say, ‘Respect a woman as a woman — not as a mother, sister or wife.’ Coming from an Afghan man, that’s quite unique.”

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, OCTOBER 27, 2014

SCIENCE & TECHNOLOGY

The Pioneering Women Forgotten by High Tech By NICK BILTON

While spending the summer of 2007 in Aspen, Colorado, Walter Isaacson and his wife, Cathy, hounded their daughter to finish her compulsory college essay. Finally, after hearing enough nagging, Betsy Isaacson locked herself in her bedroom until she emerged with a completed twonot only reinforced stereotypes page essay. about women and technology, “Congratulations, Betsy,” Mr. but has arguably had a self-fulIsaacson recalls saying. “What filling effect in America. In 1985, did you write it about?” 37 percent of computer science “Ada Lovelace,” she replied. undergraduate degrees were This was followed by a long, awkearned by women. By 2010, that ward silence. Mr. Isaacson, who number had fallen by half to 18 was just beginning work on a bipercent. Now just 0.4 percent of ography of Steve Jobs, could not all female college freshmen say recall who Ms. Lovelace was. they plan to major in computer “She’s one of the women who science. has been written out of the hisThis is visible at major tech tory of computing,” his daughcompanies. At Google, men ter replied. Though some in tech make up 83 percent of engineers. know of her, Ms. Lovelace, who Of Google’s 36 top-ranking execlived from 1815 to 1852, is an unutives and managers, only three known. are women. At Apple, male tech It’s no secret that people are employees account for 80 percent often erased from the history of of the work force. And at Facebig-tech companies. It’s so prevbook, 85 percent of the compaalent in Silicon Valley that it is ny’s tech workers are men. known as “The Creation Myth.” “Stereotypes are very reinBut what may come as a surprise forcing because as human beings is the number of women who we expect what is familiar,” said played a pivotal role but who are Sheryl Sandberg, the chief opernow forgotten. ating officer of Facebook. That is a central theme in Mr. Isaacson’s new book, “The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution.” The book could have been called “The Collaborators.” Each chapter reinforces the core premise that Mr. Isaacson made after 15 years of research: That every technology innovation, whether programming code, transistors, personal computers or the Internet, was built by groups of people (usually by borrowing from past ideas). But while a number of the men have become celebrities, most of the women are Ada Lovelace, who wrote the first lost. computer algorithm and dreamed up Ms. Lovelace’s role in tech, for example, is the concept of artificial intelligence. so paramount that her story is the opening and closing chapter. An English Ms. Sandberg said that it is mathematician and writer, she imperative to debunk the myth wrote the first-ever computer that women are uninterested in algorithm, put forth the idea technology. that humanities and technology Reshma Saujani of Girls Who should coexist and dreamed up Code, which aims to close the the concept of artificial intelligender gap in computer science gence. and technology, agrees. “Ada Lovelace defined the dig“If women had been more ital age,” Mr. Isaacson said in a prominently talked about in recent interview about the book. computing, both in the history “Yet she, along with all these othbooks and schools, we literally er women, was ignored or forgotwould not have the lack of women ten.” programmers that we do today,” In her day, she was all but igMs. Saujani said. “It’s about role nored, too. In 1843, when Ms. models. You can’t be what you Lovelace’s seminal computing cannot see.” notes were presented to ScientifPart of the problem, Mr. Isaaic Memoirs, an English scientifcson writes in “The Innovators,” ic journal of the day, the editors is how the creation myth seeks to pushed back and told her colmake heroes out of individuals, league Charles Babbage that he rather than the group. should “manfully” sign his name He said, “Most of the great adin lieu of hers. vances of the digital age were doThe exclusion of women has ne collaboratively.”

A steep drop in female students in computer science.

COOPER NEILL FOR THE NEW YORK TIMES

Biologists do not believe the huge size of the current outbreak of Ebola is a result of new mutations. Outside the home of a patient in Texas.

Trying to Lessen Fear of Ebola By CARL ZIMMER

News that a nurse in full protective gear had become infected with the Ebola virus raised disturbing questions. Has the virus evolved into a super-pathogen? Might it soon mutate into something even more terrifying? Evolutionary biologists generally agree on the answers to those questions: no, and probably not. The Ebola viruses buffeting West Africa today are not fundamentally different from those in previous outbreaks, they say. And it is highly unlikely that natural selection will give the viruses the ability to spread more easily, particularly by becoming airborne. “I’ve been dismayed by some of the nonsense speculation out there,” said Edward Holmes of the University of Sydney in Australia. “I understand why people get nervous about this, but as scientists we need to be very careful we don’t scaremonger.” Ebola is a mystery that invites speculation. The virus came to light only in 1976, the first known outbreak. Scientists are only now just starting to answer some important questions about it. Just last month, for example, Derek J. Taylor of the University at Buffalo in New York State and his colleagues published evidence that Ebola viruses are profoundly ancient, splitting off from other viral lineages at least 20 million years ago. Dr. Taylor’s research suggests that for most of that time, strains of Ebola infected rodents and other mammals. In 1976, the virus spilled over into the human population. And every few years since then, a new outbreak has emerged in different parts of Central Africa. Each has been caused by a descendant of the 1976 strain, according to new research by Andrew Rambaut of the University of Edinburgh. “It’s possible that there’s a diverse range of viruses, but just a few can make the jump,” Dr.

CENTERS FOR DISEASE CONTROL, VIA ASSOCIATED PRESS

The Ebola virus, which new evidence shows could have split off from other viruses at least 20 million years ago. Rambaut said. Pardis C. Sabeti, a geneticist at Harvard University, and her colleagues have analyzed the genomes of Ebola viruses isolated from patients in Sierra Leone to reconstruct the history of the current outbreak. Their research indicates it was the result of a single infection, probably last December. Since then, the viruses have acquired new mutations as they have spread from person to person. Scary though that may sound, it does not surprise researchers. All viruses are especially

Mutations in a virus, but not a leap to airborne. prone to making errors as they copy their genes, and many of these new mutations have no effect. Some are beneficial for the virus — but they don’t necessarily make it more deadly. Evolutionary biologists say that while the Ebola virus is mutating as it spreads, there is no evidence that this is responsible for the huge size of the outbreak. “It’s far more plausible that the difference is that it’s gotten into a different human population,” Dr. Rambaut said. Instead of being limited to villages, the virus ended up in

cities like Freetown, Sierra Leone, and Conakry, Guinea. The combination of a big population of hosts and a medical system unable to control the infection has led to an epidemic. As the current outbreak spreads, the virus will continue to mutate. It is conceivable that those increased mutations will lead to evolutionary changes. Dr. Sabeti said it is vital to keep track of the evolution of shifts in Ebola. Otherwise, an experimental vaccine might target an out-of-date type of virus. It would be a mistake, Dr. Holmes warned, to imagine that with a single mutation Ebola might become an airborne pathogen. The change would require many mutations in many genes, and it might be nearly impossible for so many mutations to emerge during a single outbreak. The mutated viruses would survive only if they were superior to the ones spread by bodily fluids. “The virus is doing pretty well right now,” Dr. Holmes said. “So it would need to be beneficial for the virus to make this quite big jump.” The ancient history of Ebola, just now coming to light, suggests we may expect to encounter more of its cousins in the future. This fearsome lineage of viruses may have been sprouting many evolutionary branches for tens of millions of years. Dr. Holmes said, “There will be lots more things like Ebola out there.”

MONDAY, OCTOBER 27, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

SCIENCE & TECHNOLOGY NEWS ANALYSIS

Building an Ark for the Anthropocene By JIM ROBBINS

We are barreling into the Anthropocene, the sixth mass extinction in the history of the planet. A recent study published in the journal Science concluded that the world’s species are disappearing as much as 1,000 times faster than the rate at which species naturally go extinct. By 2100, researchers say, one-third to one-half of all Earth’s species could be wiped out. As a result, efforts to protect species are ramping up as governments, scientists and nonprofit organizations try to build a modern version of Noah’s Ark. The new ark certainly won’t come in the form of a large boat. Instead it is a patchwork quilt of approaches, including assisted migration, seed banks and new preserves and travel corridors based on where species are likely to migrate. The questions are complex. What species do you save? The ones most at risk? Charismatic animals, such as lions or bears or elephants? The ones most likely to survive? The species that hold the most value for us? One initiative, the Intergovernmental Platform on Biodiversity and Ecosystem Services formed in 2012 by the governments of 121 countries, aims to protect and restore species in wild areas and to protect species like bees that carry out valuable ecosystem service functions in the places people live. Some three-quarters of the world’s food production depends primarily on bees. “We still know very little about what could or should be included in the ark and where,” said Walter Jetz, an ecologist at Yale University involved with the project. While the traditional approach to protecting species is to buy land, preservation of the right habitat can be a moving target, since it’s not known how Jim Robbins is the author of “The Man Who Planted Trees.”

By TARA PARKER-POPE

Does a good grade always mean a student has learned the material? And does a bad grade mean a student just needs to study more? In the new book “How We Learn: The Surprising Truth About When, Where, and Why It Happens,” Benedict Carey, a science reporter for The New York Times, challenges the notion that a high test score equals true learning. He argues that although a good grade may be achieved in the short term by cramming for an exam, chances are that most of the information will be quickly lost. Mr. Carey offers students a new blueprint for learning based on decades of brain science, memory tests and learning studies. He upends the notion that hard study is all that is required to be a successful student, and offers a detailed exploration of the brain to reveal

JASON HOLLEY

species will respond to a changing climate. A crowdsourcing effort called the Global Biodiversity Information Facility identifies and curates biodiversity data — such as photos of species taken with a smartphone — to show their distribution and then makes the information available online. That is especially helpful to researchers in developing countries with limited budgets. Another project, Lifemapper, at the University of Kansas Biodiversity Institute, uses the data to understand where a species might move as its world changes. “We know that species don’t persist long in fragmented areas and so we try and reconnect those fragments,” said Stuart L. Pimm, head of a nonprofit organization called SavingSpecies. One of his group’s projects in the Colombian Andes identified a forest that contains a carnivorous mammal that some have described as a cross between

a house cat and a teddy bear, called an olinguito, new to science. Using crowd-sourced data, “we worked with local conservation groups and helped them buy land, reforest the land and reconnect pieces,” Dr. Pimm said. Biologists in Florida, which faces a daunting sea level rise, are working on a plan to set aside land farther inland as a reserve for everything from the MacGillivray’s seaside sparrow to the tiny Key deer. To thwart something called “coastal squeeze,” a network of “migratory greenways” is envisioned so that species can move on their own to new habitat. “But some are basically trapped,” said Reed F. Noss, a professor at the University of Central Florida who is involved in the effort, and they will most likely need to be moved. One species at risk is the Florida panther. Once highly endangered, with just 20 left, it has come back — some. But a

Trying to figure out which species to save, and how. quarter of its habitat is predicted to be under a meter of water by 2100. Researchers have also focused on “refugia,” regions around the world that have remained stable during previous swings of the Earth’s climate — and that might be the best bet for the survival of life this time around. A 100-hectare refugia on the Little Cahaba River in Alabama has been called a botanical lost world because of its wide range of plants, including eight species found nowhere else. Dr. Noss said these kinds of places should be sought out and protected. Daniel Janzen, a conservation

Finding Better Ways to Truly Learn exactly how we learn. “Most of us study and hope we are doing it right,” Mr. Carey says. “But we tend to have a static and narrow notion of how learning should happen.” Long and focused study sessions may seem productive, but chances are you are spending most of your brainpower on trying to maintain your concentration. “It’s hard to sit there and push yourself for hours,” Mr. Carey says. “You’re spending a lot of effort just staying there, when there are other ways to make the learning more efficient, fun and interesting.” One tip is to change your study environment from time to time. Rather than sitting at your desk studying for hours, finding some new scenery will create new as-

Sleep and variety help the brain in retaining lessons. sociations in your brain. “The brain wants variation,” Mr. Carey says. “It wants to move, it wants to take periodic breaks.” By studying only once in a concentrated fashion, the learner has not signaled to the brain that the information is important. So while the initial study session starts the learning, it’s the review session a few days later that forces the brain to retrieve the information — essentially flagging

it as important. Another way to signal to the brain that information is important is to talk about it. Self-testing and writing down information on flashcards also reinforces learning. Another technique is called distributed learning, or “spacing.” Mr. Carey compares it to watering a lawn. You can water a lawn once a week for 90 minutes or three times a week for 30 minutes. Spacing out the watering during the week will keep the lawn greener over time. Repeating lessons a few days or a week later, rather than in rapid succession, sends a stronger signal to the brain that it needs to retain the information. Spaced study can also add contextual cues. At home, a student trying to memorize the presi-

ecologist at the University of Pennsylvania who is working to protect large tracts in Costa Rica, said a place-based approach must be tailored to the country. A reserve needs to be large, to be resilient against a changing climate, and so needs the support of the people who live with the wild place and will want to protect it. The Svalbard Global Seed Vault, beneath the permafrost on an island in the Arctic Ocean off Norway, preserves seeds from food crops. Frozen zoos keep the genetic material from extinct and endangered animals. Connie Barlow, a biologist and conservationist, is working in the western United States. “I just assisted in the migration of the alligator juniper in New Mexico by planting seeds in Colorado,” she said. “We have to. Climate change is happening so fast and trees are the least capable of moving.”

dents may hear the dog bark or phone ring. Move the study time to the coffee shop a few days later, and the student hears the barista steaming milk. Now the list of presidents is embedded in the student’s memory in two contexts, and that makes the memory stronger. Scientists have determined the optimal intervals. If the test is a week away, plan two study periods at least one to two days apart. If the test is a month away, begin studying in oneweek intervals. Sleep is an important part of good studying. The first half of the sleep cycle helps retain facts; the second half is important for math skills. So a student with a language test should go to bed early to get the most retention from sleep. For math students, better to review before going to bed, then sleep in. “Sleep is the finisher on learning,” Mr. Carey says.

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 27, 2014

N E W YO R K

In the East River, The Catch of the Day By COREY KILGANNON

DAMON WINTER/THE NEW YORK TIMES; BELOW, DLANDSTUDIO/WXY ARCHITECTURE+URBAN DESIGN

A Parkland in Place of Old Tracks An abandoned rail line in Queens, above, and an artist’s rendering of a linear park for the area.

By LISA W. FODERARO

What use is an abandoned railway, its rusted tracks overgrown with invasive vines, snaking past houses, chain stores and forested parkland? A new study by the Trust for Public Land and Friends of the QueensWay presented a kaleidoscope of possibilities: an outdoor classroom, a commuter route, a bicycle trail, an arts hub, a showcase for ethnic foods and a verdant balm for a park-starved corner of Queens. The plan follows months of workshops and meetings with community groups and lays out a vision for a nearly six-kilometer linear park, to be called the QueensWay, that would be the borough’s version of the wildly popular High Line in Lower Manhattan. Only better, its proponents say. “The plan is beautiful, but highly functional,” said Adrian Benepe of the nonprofit Trust for Public Land. The QueensWay would also address two policy goals of Mayor Bill de Blasio’s administration: fostering more fairness in the city’s park system and reducing pedestrian fatalities. The linear park would open new space and recreational venues to a diverse swath of Queens. It would be accessible to 322,000 residents who live within a kilometer of a former Rockaway Beach branch of the Long Island Rail Road. The park would, its supporters argue, further Mr. de Blasio’s Vision Zero campaign to deal with pedestrian deaths by providing better access to Forest Park, through which the QueensWay would run. At about 200 hectares, Forest Park touches three of the most dangerous streets in the borough — Woodhaven Boulevard, Jamaica Avenue and Union Turnpike. As a result, an estimated 70 percent of the 900,000 annual visitors use a car to reach the park. “The delivery of the QueensWay would really give people a safe, off-street pedestrian route to Forest Park,” said Adam Lubinsky, managing principal of WXY Architecture & Urban Design, which created the new plan with DlandStudio Architecture & Landscape Architecture. It is far from clear whether the

QueensWay will come to fruition. For one thing, not everyone is in agreement on the vision. Some residents are pushing for the revival of the passenger rail line, while others whose houses abut the tracks worry about a loss of privacy. Another obstacle is the cost. The new plan puts it at $122 million, nearly as much as the cost of the Community Parks Initiative that Mr. de Blasio announced recently. That $130 million plan calls for rebuilding 35 small, neglected parks in low-income areas across the city. The Trust for Public Land, which is trying to raise $40 million for the elevated park now under construction in Chicago, known as the 606, has already

A verdant balm for a park-starved corner of the city. raised $1.2 million in support of the QueensWay, including $467,000 in state park funds. The plan has been shown to officials from the city’s parks and transportation departments, as well as City Hall. But the response so far is noncommittal. “We look forward to continuing conversations with stakeholders about the future of this asset,” Wiley Norvell, a spokesman for Mr. de Blasio’s office, said. One advantage of the QueensWay project is that the city owns the rail line, which encompasses 19 hectares and includes several

bridges and trestles. Thus, if the plan moves forward, there would be no need for negotiations with third parties. Unlike the High Line, the QueensWay rises and falls. It is elevated at the northern and southern ends but dips below grade through Forest Park. The plan strives to keep many of the trees and shrubs that have emerged since passenger and freight trains stopped running in 1962. “The advantage of leaving the site vacant for so long is that we’ve got some very large oaks, maple and walnut trees,” said Susannah C. Drake, the principal of DlandStudio. “On the viaduct, some smaller things have sprouted up like wild roses, sumac and cedars.” The goal is to keep some of the wild feel while adding cultural and recreational attractions. A rock-climbing wall is envisioned beneath a bridge over the rail line in Forest Park. In the Ozone Park neighborhood, a vacant power station with soaring windows, adjacent to the QueensWay, would be converted into an arts space. Nearby, a new pavilion would provide a site for games and live performances. For privacy, the designers would place the bicycle path closest to the houses, since walkers would be more likely to gaze into windows. Evergreens and fencing would create an additional screen, they said. And the lights would be turned down. “In those passages,” said Mr. Lubinsky, “the lights will be at the footpath level, so people don’t have to worry about light pollution coming in through their windows.”

It may seem like an unusual spot to catch dinner, across the East River from Manhattan’s imposing skyline. And the tiny fish that a group of fisherwomen trap in these waters may not seem like dinner at all. But the women, Bangladeshi immigrants who live nearby, show up nearly every day in late summer. They wear long, colorful dresses and head scarves, and tote numerous metal traps that they toss into the river to lure small, silvery fish typically used by many anglers as bait and commonly called spearing or shiners. Small fish like these happen to be staples of the Bangladeshi diet, often stir-fried with rice and vegetables. So these women appear in late summer when schools of the fish are plentiful in New York City’s warm waterways, even in this urban stretch of river where the coastline is dominated by power plants and sewage treatment centers. Pushing shopping carts loaded with wire traps, the women arrive during mid- or high-tide. They bait the traps with raw chicken and stale bread and toss them in the water, tying them to a railing. “This is the time of year that the fish are here, the end of the summer,” said one of the women. There were perhaps a dozen traps in all one Saturday in late September, and the women pulled them out of the water every few minutes to pick out a handful of the fish, each five to eight centimeters long, and toss them in a plastic bucket. A woman — a 55-year-old Bangladeshi immigrant — declined to give her name, explaining that she did not want to attract any attention because she feared the practice of catching the fish was illegal. “Little fish, big ticket,” she said, making the other women laugh. The women, who lack a New York State-mandated recreational fishing license or a city permit to fish near a boat launch at the location, also

seem to be far exceeding the strict limitations that state health authorities recommend for eating fish taken from the East River. The woman said that when enough fish were in her bucket, she would, as usual, take them home to her family’s apartment in the nearby Astoria Houses public housing project, and serve them to her family for dinner, frying them and adding tomato sauce, garlic, onions, chili pepper and other spices. The same fish are available in the freezers of local Bengali groceries, she said, but just as with any fish, they taste much better when freshly caught. Another popular fishing spot for shiners among Bengali immigrants is Jamaica Bay. Her son, Mohammed Rahman, 31, watched the woman tend the traps and said: “My friend told me the water is no good here, and that we

Locally caught fish for dinner, from not-so-pure waters. shouldn’t be eating the fish from it, but we’ve never had a problem. My mom eats it every night.” A local resident, Gabriela Torrano, 55, said that she had seen the women fish off the Vernon Boulevard sidewalk over the years, and that she would never eat the fish herself. “I guess it’s their culture,” Ms. Torrano said, “but I’d be concerned that they’re depleting the local fish population.” The women also fish near Astoria Houses complex, where the sandy bottom is littered with flashlight batteries, a child’s scooter, the head of a streetlamp. Two girls who live in Astoria Houses — Brianna White, 12, and her sister, Iyanna, 10 — walked by the women as they were emptying their traps. “That’s nasty,” Brianna said. “I’d never eat anything from that water.”

Bangladeshi women use traps to catch spearing, a staple of their diet.

PHOTOGRAPHS BY TODD HEISLER/THE NEW YORK TIMES

MONDAY, OCTOBER 27, 2014

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

N E W YO R K

‘Stop-and-Frisk’ Policy Hangs Over Brooklyn Lives Replacing stop-andfrisk tactics, New York City police officers have adopted a strategy of being seen in highcrime areas. Below, from left, Shawn Pitts, Ernest Johnson, Pharaoh Pearson and Ernest Payne outside of Tilden Houses.

By JOSEPH GOLDSTEIN

In the housing projects of eastern Brooklyn, some young men no longer clasp hands when greeting each other, they say, fearful that their grasp might be mistaken for a drug deal. Friends heading to the bodega sometimes split up, worried that walking in a group will attract police attention. They are lasting effects of years of police stops of young men, mostly in black and Latino neighborhoods. Often the stops were without legal justification, a federal court found last year. Today, the policy of “stop-andfrisk” as New York City knew it is over, undone by a torrent of public outrage and political pressure, and by legal challenges that culminated in the ruling that the Police Department’s drastically increased use of the street stops over the preceding decade was unconstitutional. The police remain a visible presence in the borough’s Brownsville neighborhood, where the vast expanse of public housing had made the neighborhood a proving ground for the department’s use of the tactics as a way to curb gun violence. As part of a new strategy called Omnipresence, the officers now stand on street corners like sentries, only rarely confronting young men and patting them down for weapons. But the residents of Brownsville still view these officers warily. Some people head indoors earlier, they say, because darkness brings not only the increased threat of violence, but also a lower threshold for being stopped. Some people are hesitant to visit friends or relatives in neighboring projects, where they risk being stopped on suspicion of trespass. And instead of enthusiastic handshakes, a bump of the fists or the elbows is a more common greeting. “No open palm anymore; we just do elbows,” Pharaoh Pearson, a 38-year-old club promoter, said recently as he sat in the courtyard of the Tilden Houses in

PHOTOGRAPHS BY VICTOR J. BLUE FOR THE NEW YORK TIMES

ONLINE: RESIDENTS REACT

Brooklyn residents discussing policing methods: nytimes.com Search Omnipresence

Brownsville. “That’s an automatic search because they say we were doing hand-to-hand transactions,” said one of his friends, Ernest Payne, a construction worker. Under Mayor Michael R. Bloomberg, the number of street stops soared as they became a cornerstone of his antigun efforts. The stops rarely turned up evidence of criminality but became a fact of life for young black and Hispanic men in high-crime neighborhoods. By the time Bill de Blasio took office as mayor this year, the

practice was declining. Mayor de Blasio heralded the change as an important step toward improving police-community relations. But there are limits to how quickly campaign pledges and court rulings can change how people feel about the police, particularly in neighborhoods where the police are a perpetual presence. While Brownsville is safer than it was in the early 1990s, when the local precinct, the 73rd, recorded more than 70 homicides in some years, it is still a dangerous place. This year, as of September 7, it had recorded

13 homicides and more than 400 felony assaults. The new strategy for policing the projects is taking shape. Officers stand at posts, often along the perimeter of the Tilden Houses or at the edge of the neighboring Brownsville Houses. To add to their visibility, officers park their cars on the sidewalk and turn on the flashing roof lights. “They’ll be here all night,” said a 20-year-old man who declined to give his name. But if the number of police stops has declined, stops for matters like congregating outside a building entrance remain a core part of policing the projects. Enforcement of minor offenses has been a hallmark of Mr. de Blasio’s police commissioner, William J. Bratton, and he has shown little sign of abandoning it, even after Eric Garner died in July after a struggle with officers on Staten Island who were trying

to arrest him for selling loose, untaxed cigarettes. Car stops, which are not reflected in the Police Department’s stop-and-frisk totals, are also a source of friction. “They pull up on you and knock on your window, pull you over, and they ask to search your car,” said Lamel Battle, a 28-year-old construction worker. Today, teenagers and young men in Brownsville live in the shadow of years of police encounters that accustomed them to having to prove their innocence to police again and again. “Sometimes I’ll let them check me so they don’t think I have anything to hide,” Tijay Lewis, 15, said of what happens when officers stop him for a frisk. “I tell them I don’t have any guns on me. They say, ‘That’s for me to find out.’ ” Tijay said he had been stopped 10 times since turning 13. “I’m black so I get stopped a lot of times,” he said as he stood in the courtyard of the Tilden Houses. But he observed that it had been months since he was last stopped. “It feels a little bit different,” he said.

Nurturing and Hope, Built Into Housing Designed by a marquee architect with no concessions to timid taste, Sugar Hill Development in Upper Manhattan aspires to must-see status. But it is intended to house the poorest New Yorkers. With a preschool for more REVIEW than 100 children and a museum of children’s art and storytelling, Sugar Hill sets out to show how subsidized housing may lift a neighborhood and mold a generation. This takes the project beyond even exceptional subsidized housing, like Arbor House in the South Bronx, which has a gym and a hydroponic farm on the roof. The building, with 124 units for low-income and formerly home-

MICHAEL KIMMELMAN

less residents, rises 13 stories. It is clad in shadowy gray precast, thickly grooved concrete panels spectrally embossed with abstracted roses that refer to floral decorations on historic buildings in the neighborhood. The building is designed by David Adjaye, the gifted British architect. He has produced expensive private houses with dark, fashionably textured exteriors. “Why is it that this is ‘cool’ for rich people but ‘tough’ for poor people?” he is right to ask. Fearsome in photographs, the $84 million development is, in fact, not nearly so imposing when you see it next to some of the public housing towers glowering over surrounding streets. Its north and south facades, staggered into saw-tooth patterns, echo an arrangement of several nearby rowhouses. The

corrugated concrete panels, studded with recycled glass, lighten and glint in the sun. Trees planned for the building’s plaza should soften the entrance. A premium was paid for concrete-frame construction, with the goal of adding some 21st-century flair to a district of brownstones and postwar housing blocks, today lacking even basics like a decent supermarket. What’s more unusual about Sugar Hill is the emphasis on child- and family-centered programming. Children make up the fasting-growing segment of New York’s homeless population. It is estimated that each resident in a supportive housing development like Sugar Hill costs taxpayers $12,500 a year, on average. A cot in an emergency shelter costs twice that; a psychiatric hospital bed, 10

times that. So, with Sugar Hill, the school and the children’s museum become the foundation for the building. Classrooms have views, light, privacy. The other day I dropped by the preschool. Parents were ecstatic. Squirmy 4-year-olds ate cereal and did yoga on tiny mats in bright spaces with floor-toceiling windows and cheery pea green floors. That leaves the apartments, which seem like an afterthought: awkward, with angled walls, quirky layouts that tenants may find hard to furnish, and weirdly placed windows of various sizes. The health benefits of light and air are well known. A commanding apartment building still has to serve residents who want tranquility when they pass through their front doors.

ROBERT WRIGHT FOR THE NEW YORK TIMES

Sugar Hill Development in Upper Manhattan has ambitions to lift a neighborhood. Providing poor families with small, distinctive but difficult living spaces to accommodate a striking facade throws the whole design into question, betraying the project’s basic mission. Mr. Adjaye has squeezed a lot into the building. But subsidized housing always involves tradeoffs. The housing shouldn’t be one of them.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, OCTOBER 27, 2014

ARTS & DESIGN

Indian Modernist, Artist of Mystery By ARTHUR LUBOW

When Sandhini Poddar first saw the paintings of V. S. Gaitonde, their silence spoke loudly. Displayed in a group show in 1997 at the National Gallery of Modern Art in Mumbai, the large abstract canvases, with layered colors and textures, invited long contemplation. “This was a feeling that wasn’t ephemeral, it stayed with me, and I could recall it whenever I wanted to go to a place of silence,” she said. Gaitonde, in his early 70s at the time, was living in a oneroom rented apartment in New Delhi. Although fellow artists and knowledgeable collectors admired his work, he remained

V. S. Gaitonde had no interest in material possessions. Right, an untitled 1955 work. in the shadows, as he preferred. He had friends but never married. He gave few interviews. “He was a special kind of fellow,” said the New Delhi painter Krishen Khanna, a friend. “He didn’t doubt himself. ” By the time Ms. Poddar, 38, adjunct curator at the Guggenheim Museum in New York, was in a position to help raise awareness of Gaitonde’s achievement, the painter, whom she never met, was no longer available to assist her. He died in 2001. Exploring the residual traces of his life, she discovered that he left remarkably little trail. There were no

heirs. No one had inventoried his output. In a long career, he produced relatively few paintings. “There’s always been a kind of mystery surrounding the artist,” Ms. Poddar said. As she researched his self-effacing craft, in preparation for a retrospective now open at the Guggenheim, the mysteries of Gaitonde only deepened. His obscurity, however, ended with a dramatic flourish. Last December in Mumbai, as part of Christie’s first auction in India, a painting by Gaitonde sold for $3.8 million, the highest price ever for a work of modern Indian art. The auction signaled the arrival not only of this singular painter, but also of an entire generation of postwar Indian artists. India’s economic growth in the last two decades has made its business class richer, and with it has come an increased interest in India’s art. Almost every work in the sale of Indian modern art fetched a price that was triple its low estimate, said Deepanjana Klein of Christie’s. The leading Indian modernist painters belonged to the Progressive Artists Group, a loose clique of painters that formed in 1947 in Bombay (now Mumbai). They borrowed the techniques and formal devices of avant-garde Western painting. However, as has happened over the ages, the imported aesthetic would change as it was synthesized in India. Gaitonde was raised in Bombay and lived there until his move to New Delhi in 1972. In 1950, he joined the Progressive Artists, painting pictures that were heavily influenced by Paul Klee. Gaitonde, interested in Zen Buddhism, gradually eliminated all figurative representation from his work. He used a roller to build up thin washes of color in translucent complexity, and a palette knife to create contrast-

FLORIAN BIBER/CHOWDHURY FAMILY COLLECTION, VIENNA — MUMBAI; LEFT, SHALINI SARAN

ing patches of thick impasto. In 1964, he moved for a year to New York, where he could view actual paintings by Western artists instead of reproductions. Mr. Khanna went with him to visit Mark Rothko. “We saw Mark doing his big paintings, the black ones,” Mr. Khanna recalled. “We were both suitably impressed — Gaitonde greatly impressed.” Although Gaitonde’s paint-

ings don’t resemble Rothko’s formally, they inspire a similar meditative mood. “When you concentrate on the painting, you are sucked into the painting,” Mr. Khanna said. In his later years, Gaitonde would apply cutout strips to his canvas and apply his roller over them until they hovered as ghostly forms. He created only a handful of paintings in a year. Although he could be adamant

about his pricing — Mr. Khanna remembered once seeing the director of the National Gallery of Modern Art approach Gaitonde to suggest a discount, then walk away quickly in obvious defeat — he showed no interest in material possessions or commercial success. “After the work was taken away, he didn’t have any relationship with it,” Ms. Poddar said. “He went on to the next idea.”

Sanitized Books Cater to Rich Youth Market By ALEXANDRA ALTER

Of all the horrors Louis Zamperini endured during World War II — a plane crash into the Pacific, 47 days stranded at sea, two years in a prisoner-of-war camp —what truly haunted him was when a Japanese guard tortured and killed a duck. The episode, recounted in Laura Hillenbrand’s best seller “Unbroken,” also traumatized many readers, Ms. Hillenbrand said. So when she was writing a new edition aimed at young adults, she left that scene out. “I know that if I were 12 and reading it, that would upset me,” Ms. Hillenbrand said. Inspired by the booming market for young adult novels, a growing number of writers are retrofitting their works to make them palatable for younger readers. Nonfiction writers like Ms. Hillenbrand, Jon Meacham and Rick Atkinson are now grappling

with how to handle unsettling or controversial material in their books as they try to win over this impressionable new audience. And these slimmed-down and sometimes sanitized editions of nonfiction titles are fast becoming a vibrant and lucrative niche. Publishers are unleashing a

Some say teenagers benefit from reading adult versions. flood of these books. Mr. Meacham recently published his first children’s book, a version of his 759-page biography of Thomas Jefferson tailored to readers 10 and older. It can be hard to maintain the

drama and nuance of historical narratives while targeting the under-13 crowd. Mr. Meacham said he had a lengthy debate with his publisher over how to describe Jefferson’s sexual relationship with his slave Sally Hemings. “For a fifth or sixth grader, how do you explain an illicit relationship between master and slave, and be honest, but not send them screaming?” said Mr. Meacham, a Pulitzer Prize-winning biographer. “It’s hard enough to do it for grown-ups.” “D Day,” a recent children’s title carved out of “The Guns at Last Light,” Mr. Atkinson’s 877-page history of World War II, omits explicit descriptions of the carnage on the Normandy beaches. “Sure, it lost some of its impact,” Mr. Atkinson said of the book, recast for 8- to 12-year-olds. “But that was the point.” Some educators and literacy experts question whether dedi-

cated children’s editions of best-selling adult titles are really necessary, or even a good idea. Before such books existed, avid young readers would often just pick up the adult version, and many still do. “A well-rounded teen who reads on a high level would probably do well to read the adult version of these books,” said Angela Frederick, a public school librarian in Nashville, Tennessee. Revenue from children’s and young adult books jumped 30 percent in the first quarter of this year compared with the same period last year. Meanwhile, adult fiction and nonfiction sales dipped nearly 4 percent, according the Association of American Publishers. Nonfiction books for kids now take on a wider range of topics and literary forms, with memoirs, self-help, narratives, and portraits of complex con-

WILLIAM P. O’DONNELL/THE NEW YORK TIMES

Original and youngsters’ versions of ‘‘Unbroken.’’ temporary figures like the Apple co-founder Steve Jobs and the Pakistani teenager Malala Yousafzai, who was shot by the Taliban for her activism. “Not everybody wants to read about vampires and dystopia,” said Steve Sheinkin, who has written original children’s books about the Civil War and the atomic bomb. “Some kids want to read about World War II or spies.”

Business | Money Line

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Interbank rates flat as CBN cancels Treasury Bills sale

HIGH YEILDS Investors are demanding for higher yields

Godson Ikoro

igeria’s interbank lending rates remained unchanged at 10.37 percent for the fourth week last Friday after the Central Bank of Nigeria (CBN) cancelled the sale of fresh open

terling Bank Plc will continue to partner all sectors to bolster growth of the Nigerian economy, its management has assured. The lender’s Group Head, Strategy & Communications, Mr. Shina Atilola, gave the assurance at the Pret-a-porter fashion show sponsored by the bank in Lagos at the weekend. He also said that the sponsorship of the show has again demonstrated the bank’s reputation as one of the leading institutions spearheading the development of entrepreneurship in Nigeria. Pret-a-Porter is a soiree and networking event that brought together the best of the players in the fashion in-

market (OMO) bills, as investors demanded higher yields. The apex bank had offered to sell treasury bills in the week, but withheld the auction due to demand for high yields by investors as the risk of holding Nigerian assets has risen with falling oil

prices and a weakening naira currency, dealers said. Instead it repaid N170 billion ($1.03 billion) worth of matured OMO bills last week, increasing interbank liquidity. Banks were also expecting monthly government revenue disbursements

to hit the system from this week. The cash balance that lenders held at the banking watchdog opened around N389 billion last Friday, down from N431 billion penultimate week. The Debt Management Office (DMO) sold

Sterling Bank assures of sectors partnership for economic growth dustry for an evening of intimate ideas exchange and an exhibition of ready-to-wear collections from some of Nigeria’s leading fashion expressions. The exhibition, which is an initiative of Lagos Laid Bac and held at Wheat Baker Hotel, Ikoyi, was attended by government officials, editors, civil society, retail organizations and academics that shared their experiences on value chain development and discussed how best smallholders can be incorporated into value chains in order to promote garment pro-

duction and rural development. Some of those, who attended the event included the Assistant Creative Director, Ruff and Tumble, Ifueko Igiehon; Founder of Konga, Mr. Sim Shagaya; the CCO, Mr. Mark Russell; and Head of Fashion, Konga, Mr. Ochije Nnani. The bank noted that this situation has led many youths to work in the informal economy under difficult working conditions largely in the absence of social protection. “Youth unemployment is a critical issue for business concerns, which is

why we at Sterling Bank are willing to support young entrepreneurs that would like to create sustainable enterprises”, the bank stated in the statement. Also in his remarks, the Chief Operating Of-

As at 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

N171.26 billion worth of treasury bills with the six month and one year paper fetching higher yields than at a previous auction on Sept. 24. The open buy back rate was unchanged at 10.25 percent last week, 1.75 basis points below the central bank’s bench-

mark interest rate of 12 percent. Overnight placements also remained flat at 10.50 percent for the forth-consecutive week. Dealers expect interbank lending rates to remain flat this week as more liquidity flows into the banking system.

ficer of Laid Bac, Mr. Chucks Nwachukwu, explained that the programme was packaged to address the major challenges facing the youths in the country, adding that creating of enterprises is one response to youth unemployment. The Lagos Laid Bac boss observed : “Our youths are faced with numerous challenges in the process of actualiz-

ing their dreams. Such challenges include lack of knowledge of relevant legislation (commercial, labour law, etc.), bureaucracy, inadequate information and corruption. “ “This programme is therefore designed to create enterprises by developing winning partnerships with senior entrepreneurs in order to overcome the risk and fear of creating an enterprise”, he enthused.

Enterprise Bank floats product for young graduates

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

Offer 163.5000 Source: FMDQ

uccour has come the way of young graduates brimming with ideas but do not have the financial capacity to bring their dreams into reality, as Enterprise Bank Limited has tailored its products and services to specially cater for them. Christened Enterprise Graduate Empowerment Scheme (EGES), the product, which was inspired by a personal experience the Managing Director/Chief Executive Officer of the bank, Mallam Ahmed Kuru, had in an encounter with a bright but unemployed young graduate, “is designed to bridge the gap that exists between the innovative entrepreneurial ideas of young school leavers and access to the right financial support to transform these ideas into concrete money making enterprises.” According to a statement from the lender, such candidates, who must be university or polytechnic graduates of not more than three years prior to the time of application, are to apply through the bank’s website for a pre-qualification exercise. Those candidates who meet with the criteria will now be invited, taken through an intensive business appreciation programme, where they will learn practical book keeping, market intelligence, human resource management, conceptualisation and implementation of business proposals among others. At the end of the programme, a test will be administered to select those that will participate in the Enterprise Graduate Empowerment Scheme.

Speaking during the launch in Lagos, the Managing Director/CEO stated that EGES is in line with both the Federal Government transformation agenda and that of the Central Bank of Nigeria (CBN) on growth towards promoting the Micro, Small and Medium Enterprise (MSME) sector of the economy. Kuru said that EGES is also meant to access the relatively unbanked sector of the economy by altering the negative mindset of the public that Nigerian banks do not support new and growing businesses. Also commenting on the product, Yetunde Dehinbo, a graduate of Industrial Chemistry from the Olabisi Onabanjo University, Ago Iwoye and a participant in the programme, lauded the scheme, saying that “it is for people like me who really do not want to work for anybody.” She said: “…from day one, I have always known that I want to have my own business but there is no money to give expression to the business ideas that I have. I am currently into trading but will require assistance like EGES to take it to the next level.” Similarly, Olorunfemi Oluwasanmi Silas, who has just finished his National Youth Service is an Information and Communication Science graduate from the University of Ilorin. He said his desire is to go into the laundry business. As a fresh graduate with practically no experience, he stated that EGES will be very key in helping young school leavers to find their rhythm quickly.

Business | Capital Market Report

ENCOURAGING

The stock market closed the week on positive trajectory Chris Ugwu

espite Nigerian’s equity market skewing downwards during the last two trading days of last week with bearish sentiments jostling to overrun the activities on the floor of the Exchange, the bulls maintained its grip on the market activities as bargain hunters struggled to take positions. Analysts said the resilience of the bulls to sustain market rally was enough evidence that investors confidence is returning to take advantage of the undervalued stocks in spite of security challenges that have posed threat to investment in the country. They had forecast that the uncertainty surrounding the market following massive sell off that most blue chip companies witnessed consistently for 10 consecutive days would be over and stability returned following investors’ appetite to leverage on prospective stocks. Cumulatively, the NSE AllShare Index and Market Capitalisation rose by 2.33 per cent to close on Friday at 39,087.10 and N12.906 trillion respectively. Similarly, all the indices appreciated during the week with the exception of the NSE Lotus II Index that sheds 0.31 per cent to close at 2,533.50. Week opened on a positive note Trading activities on the floor of the Nigerian stock market began last week on the positive note as bullish tendencies sustained rally to dominate the trading activities after consistent sell pressure. The NSE ASI and market capitalisation increased by 1.2 per cent as market sentiments returned on the green zone. Transaction in the share prices of Seplat Petroleum and Lafarge Wapco led other gainers to lift market indicators. The key benchmark indices maintained positive trajectory to close in the green, taking supports majorly from large capitalised stocks, which was particularly driven by the two companies. Consequently, at the close of transactions, market capitalisation firmed up by 1.2 per cent or N154 billion from N12.612 trillion traded on Friday to N12.766 trillion. Also, the NSE All Share Index (ASI) appreciated by 464.92 basis points or 1.2 per cent to hit 38,662.65 index points from 38,197.73 points recorded in the previous day. Further review of the day’s trading showed that investors bought 353.8 million shares worth N4.1 billion in 5,221 deals. Seplat Petroleum Plc topped the day’s gainers table with N25.69 to close at N574.00 while Lafarge Wapco Plc followed with N5.94 to close at N117.00 per share and UACN Plc with a

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Nigerian equities rise on undervalued stocks

NSE building

gain of N2.56 to close at N53.79 per share. On the flip side, Nestle Nigeria led the losers with a drop of N5.00 to close at N975.00 while Forte Oil Nigeria shed N4.40 to close at N211.50. On the activity chart, the banking sub-sector dominated in volume terms with 129.2 million shares worth N2.08 billion in 1,985 deals. The sub sector was enhanced by the activities in the shares of GTB Plc and UBA Plc. Insurance services sub-sector boosted by activities on the shares of AIICO Plc followed with 97.3 million units, worth N71.6 million in 148 deals. Stocks extend gaining streaks On Tuesday, the bulls maintained its grip on the market activities as bargain hunters jostle for shares on the back of blue chip companies after the jinx of market depression was broken the previous day. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.29 per cent as market sentiments extended gaining streaks following investors’ awaken optimism. Consequently, the All-Share Index gained 114.02 basis points or 0.29 per cent to close at 38,776.67as against 38,662.65 recorded the previous day while the market capitalisation of equities appreciated by N37 billion or 0.29 per cent as market sentiment remained green. Meanwhile, a turnover of 352.9 million shares worth N3.2 billion in 6,171 deals was recorded in the day’s trading. Insurance sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 122.08 million shares worth N313.9 million exchanged by investors in 203 deals. Volume in the sub-sector was largely driven by activity in the shares of Mansard In-

Five most capitalized stocks@ Oct 24, 2014 Dangote Cement Plc

N3.6trn

Nigerian N1.2trn Breweries Plc Guaranty Trust Bank Plc

N803.4bn

Nestle Nigeria Plc

N791.8bn

Zenith Bank Plc

N709.2bn

surance Plc and Wapic Insurance Plc. Also, the banking sub-sector was boosted by activity in the shares of UBA and Access Bank Plc followed with a turnover of 102.6 million shares valued at N920.8 billion in 2,403 deals. Bulls sustain rally The bullish tendencies on the Nigerian Stock Exchange (NSE) sustained rally on Wednesday as bargain hunters taking position on equities dominated the trading activities. The NSE ASI and market capitalisation increased by 0.86 per cent as market sentiments remained on the green zone. Transaction in the share prices of Guinness Nigeria and Nestle Nigeria Plc led other gainers to lift market indicators. The key benchmark indices maintained positive trajectory to close in the green, taking supports majorly from large capitalised stocks which was particularly driven by the two companies. Consequently, at the close of transactions, market capitalisation increased by 0.86 per cent or N112 billion from N12.803 trillion traded on Tuesday to N12.915 trillion on

Tuesday. Also the NSE All Share Index (ASI) appreciated by 336.95 basis points or 0.86 per cent to 39,113.62 index points from 38,776.67 points recorded the previous day. Further review of Tuesday’s trading showed that investors bought 193.2 million shares worth N2.6 billion in 4,302. On the sub-sectorial level, banking sub sector of the financial service sector strengthened by the activities on the shares of ETI Plc and Sterling Bank Plc led in volume terms with 85.7 million shares worth 947.04 million in 1,444 deals while other financial services sub sector, also of the financial service sector boosted by the shares of FBNH had 21.2 million ordinary shares worth N250.4 billion done in 779 deals. Bears return The Nigerian stock market, Thursday lowered down its momentum from the previous three days gain as market sentiment turned red with a loss of N5 billion. After recording significant growth, the market, which opened the week in a positive trajectory, skewed downward to enable the bears regain stronghold. This was due to profit taking by investors in the wake of the cautious optimism that has prevailed in the market in recent times. Market operators had predicted that the bullish trend that was recorded during the three days would trigger profit taking and impact negatively on the stock market when market speculators slow down to pick profits. Consequently, the All-Share Index shed 14.9 basis points or 0.038 per cent to close at 39,098.72 as against 39,113.62 recorded the previous day while, the market capitalisation of equities depreciated marginally by N5 billion or 0.038 per cent as market senti-

ments turned red. Meanwhile, a turnover of 304.3 million shares worth N3.1 billion in 4,693 deals was recorded in the day’s trading. Banking sub sector of the financial services sector was the most active during the day (measured by turnover volume); with 180.8 million shares worth N1.8 billion exchanged by investors in 1,932 deals. Volume in the sub-sector was largely driven by activity in the shares of Diamond Bank Plc and Zenith Bank Plc. Market suffers further depression On Friday, the stock market further closed on a bearish note following 0.03 per cent drop in both market performance indices reflecting profit taking, amid drop in investment activities. The key benchmark indices maintained negative trajectory to close in the red, as activities in the shares of Cadbury Nigeria and Lafarge Wapco dragged down the equity market. Consequently, the All-Share Index dipped 11.62 basis points or 0.03 per cent to close at 39,087.10 as against 39,098.72 recorded the previous day while the market capitalisation of equities depreciated by N4 billion or 0.03 per cent from N12.910 trillion the previous day to N12.906 trillion as market sentiment remained on the red. Meanwhile, a turnover of 208.6 million shares worth N3.8 billion in 4,040 deals was recorded in the day’s trading. Just as in the previous day , the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 105.4 million shares worth N1.4 billion exchanged by investors in 1,295 deals. Volume in the banking subsector was largely driven by activities in the shares of GTB Plc and Sterling Bank Plc.

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

SPECIAL REPORT

in partnership with

24 Leading Bank CEOs …How they run the economy Although lenders have been facing a profit squeeze since last year as a result of regulatory measures put in place to get them to lend more to domestic businesses and consumers, chief executive officers of these institutions have no doubt contributed in diverse ways to the growth of the Nigerian economy. New Telegraph profiles these CEOs

Mr. Olusegun Agbaje

MD, Guaranty Trust Bank,

Yemi Adeola

Described as a core professional, Mr. Olusegun Agbaje has been the Chief Executive Officer and Managing Director of Guaranty Trust Bank Plc since July 12. He served as Deputy Managing Director of Guaranty Trust Bank from August 2002 to April 20, 2011 and its Divisional Head Institutional Banking Division. Agbaje also served as Acting Managing Director of Guaranty Trust Bank (Ghana) Limited since April 20, 2011. Prior to joining Guaranty Trust Bank, he worked for Ernst & Young, San Francisco, from 1988 to 1990 as a staff Auditor. He helped to develop the Interbank Derivatives market amongst dealers and introduced the Balance Sheet Management Efficiency System in Nigeria. As Head of the Settlements Group of Guaranty Trust Bank, he supervised the conversion of its operations from a cost centre to a profit centre by the year 2000. Being a project-oriented person, he was very instrumental in the introduction of Valucard (an electronic payment system) and Western Union Money Transfer. He was also directly responsible for Guaranty Trust Bank’s Initial Public Offer of N2.5 billion in July 2002. Agbaje holds a first degree in Accountancy from the University of San Francisco, California (1986), and a Master’s degree in Business Administration from the same university in 1988.

Known as a ‘silent operator’, who lets his works speak for him,’ Mr. Yemi Adeola is the Managing Director and Chief Executive Officer of Sterling Bank Plc – a position he has held in a substantive capacity since February 2009. Under his leadership, the bank has been transformed into a fast-growing, competitive institution with a strong foundation in spite of challenging economic conditions in recent periods. Following the evolution of Sterling Bank in January 2006, he served as Executive Director, Corporate & Commercial Banking. Prior to this, Adeola was the Deputy Managing Director of Trust Bank of Africa Ltd – a position he held from June 2003 till December 2005. Earlier in his career, he served in various general/executive management roles at Citibank spanning a 16-year period (notably Chief Legal Counsel, Executive Director, Emerging Target Markets (Commercial Banking) and Head, Public Sector & Infrastructure Finance). He holds a Master of Laws (LL.M) with specialisation in Secured Credit Transactions, Comparative Company Law and International Economics Law, from the University of Lagos, Nigeria. He is a JFK Scholar.

MD, Sterling Bank

Herbert Wigwe

Sola David-Borha

Labeled a ‘stricter for results,’ Mr. Herbert Wigwe, serves as the Group Deputy Managing Director of Access Bank Plc. He has in his possession an impressive and intimidating CV to earn him the raise to be the post. He started his professional career with Coopers and Lybrand Associates, an international firm of Chartered Accountants. He spent over 10 years at Guaranty Trust Bank where he managed several portfolios including financial institutions, Corporate and Multinationals. He serves as the Chairman of Intercontinental Homes Savings & Loans Plc. He has been a Director at Associated Discount House Limited since December 1, 2011. Wigwe, who served as an Executive Director of Access Bank, is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also an Alumnus of Harvard Business School Executive Management Programme and holds a Master’s degree in Banking and International Finance from the University College of North Wales; a Master’s degree in Financial Economics from the University of London and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka.

Acknowledged as ‘driver for excellence,’ for Sola David-Borha serves as the Chief Executive Officer of Stanbic IBTC Holdings PLC (a member of Standard Bank Group). Prior to this, she served as the Chief Executive Officer of Stanbic IBTC Bank PLC. She was Deputy Chief Executive Officer of Stanbic IBTC Bank PLC from March 2008 to April 2011 and also served as Head of Investment Banking Coverage for Sub-Saharan Africa (excluding South Africa). She currently serves as a Director of Stanbic IBTC Bank PLC & Stanbic IBTC Pension Managers Limited and is Chairman of Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited and Stanbic IBTC Asset Management Limited. She is a director of CR Services (Credit Bureau) PLC. She holds a B.Sc. Economics degree from the University of Ibadan, and an MBA from Manchester Business School, United Kingdom. Her executive educational experience includes the Advanced Management Programme of the Harvard Business School. She is a fellow of the Chartered Institute of Bankers (CIBN) and the Vice Chairman of the Nigerian Economic Summit Group.

MD, Access Bank

MD, Stanbic IBTC Holdings

38 Special Report Faith Tuedor-Matthews MD, Mainstreet Bank

Branded as a ‘perfectionist,’ Faith Tuedor-Matthews, who is the Managing Director of Mainstreet Bank Limited, is a Harvard Business School alumnus and holds an MBA from the Aston University, Birmingham, UK. Armed with extensive experience garnered from working with leading lenders in Nigeria, she started her career with the United Bank for Africa in 1985 after her Youth Service. She then joined Ecobank Transnational Inc. in 1992, where she rose to the position of General Manager before taking up an appointment as Executive Director with Standard Trust Bank/United Bank For Africa Plc. She left UBA as Deputy Managing Director in 2011. Her over 26 years banking experience spans all facets of banking from junior to Executive management levels. A highly accomplished Banking Executive, with a track record in driving complex, high-level business transformation and change, Tuedor-Matthews is able to deliver results for large private and public sector organisations.

Henry James Semenitari MD, Unity Bank

Semenitari has valued and consistent banking experience in operations, internal control, commercial and retail banking, consumer banking, corporate banking (Energy) among others, acquired from various banks over a 22-year career. He has worked with First City Monument Bank (FCMB), Zenith Bank, Diamond Bank, United Bank for Africa (UBA), ACB International Bank and Continental Trust Bank. Sementari has held senior management positions in UBA Plc as an assistant general manager, Commercial and Retail Banking Group; general manager (Credit and Marketing) in ACB International Bank Plc; acting managing director/CEO, ACB International Bank Plc; executive director (Business Development) in Continental Trust Bank Limited and general manager, Afribank Nigeria Plc, in charge of Consumer and Retail Banking with the responsibility of supervising and developing business activities across over 150 branch network. He was also an executive director, Retail and Enterprise Banking at FCMB with responsibility for developing and growing Retail and Enterprise Banking business across the entire branch network. Semenitari holds a Bachelor of Science in Chemical Engineering from the University of Lagos and a Master in Business Administration (MBA) from International Graduate School of Management, University of Navara (I.E.S.E) Barcelona, Spain.

Ifie Sekibo

MD, Heritage Bank Sekibo is the Managing Director Heritage Bank, the lender with unbridled passion to surpass the existing big names in the banking industry. He has a proven track record of giving life to hitherto moribund entities. Few years back, he successfully steered indigenous oil company, MoniPulo Limited to profitability by paying off all debt and even going as far as buying out its foreign technical partners. A passionate game changer, he took on Global Assurance and transformed it into International Energy Insurance (IEI). This led to the listing of IEI on the Nigerian Stock Exchange (NSE). An Alumnus of Harvard Business School and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Sekibo holds B.Sc, Accountancy from University of Science and Technology Port Harcourt.

Michael Larbie

MD, Rand Merchant Bank Larbie is the Chief executive Officer of Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, one of the leading African corporate and investment bank and part of one of the largest financial services groups in Africa. He is a strategic advisor to leading corporations and governments across Africa and the USA. Prior to assuming his current position, Larbie, was a Vice President in Merrill Lynch’s Investment Banking Financial Institutions Group where he focused on Mergers & Acquisitions and Financing transactions. He has worked as Head of In-

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

vestment Banking and Coverage for Africa, Financial Controller for Participant Service Group, Merrill Lynch & Co. Inc. Under his leadership RMB offers clients advisory, funding, trading, corporate banking and principal investing solutions. RMB has funded several infrastructure and resource finance projects, mergers and acquisitions, and developments across 35 African countries over the past decade. Larbie attended University of Ghana

Ladi Balogun MD, FCMB

Ladi Balogun, who is the Group Managing Director / Chief Executive Officer of First City Monument Bank (FCMB) Ltd, began his banking career in 1993 at Morgan Grenfell and Co Limited and worked at Citibank in New York. Subsequently, he worked at Citibank New York before returning to Nigeria as the executive assistant to the chairman and chief executive of FCMB in 1996. With over 20 years experience in commercial and investment banking in Europe, the United States of America and Africa, he was responsible for managing the bank’s trading and investment positions in debt instruments numerous complex debt deals in Latin America, Eastern Europe and the Asian sub-continent. In 1997, he was appointed executive director, and deputy managing director in 2001. He became Managing Director in 2005. During his tenure as managing director and subsequently group managing director, he has led the organisations transformation from a privately owned merchant bank to one of Nigeria’s top 10 banking groups with over 500,000 shareholders, 270 branches, two million customers, 20 per cent market share in personal loan origination and a presence in two continents. He has also led the acquisition and integration of four banks with FCMB in the last eight years. He holds a bachelor’s degree in Economics from the University of East Anglia, United Kingdom and an MBA from Harvard Business School, USA.

Omar Hafeez MD, Citi Bank

Prior to his appointment as managing Director / CEO, Omar Hafeez, came to Nigeria in 2010, as Executive Director responsible for Corporate and Investment Banking at Citi Nigeria. He started his career at Citi in 1994 in Pakistan, and served as Head of Corporate Banking from 2004 to 2007. Prior to relocating to Nigeria, he was the Managing Director for Citi in Tanzania. Hafeez has 18 years of experience operating in emerging markets, covering a cross-section of industries. He has extensively advised both private sector clients and governments on financial solutions across a range of products. He has represented Citi at various forums and presented papers both nationally and internationally. Before joining Citi Bank, he spent five years with Kershen Fairfax & Co. Chartered Accountants in the United Kingdom as audit manager between 1989 and 1994. He holds a bachelor’s degree in law from the University of London. He is also a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and a Fellow of the Institute of Chartered Accountants of Pakistan (ICAP)

Rilwan Belo-Osagie

MD, FSDH Merchant Bank Limited, Rilwan Belo-Osagie is a pioneer member of staff of FSDH Merchant Bank Limited and was appointed the Managing Director and Chief Executive Officer in 1998. Belo-Osagie has worked at First Securities Discount House, Chartered Bank Plc., Lagos, Nigeria. (Now Stanbic IBTC Bank Plc.). He was appointed the Managing Director and CEO in 1998 after serving as the General Manager and Chief Operating Officer for two years. Belo-Osagie had worked with African International Bank Limited and Chartered Bank Nigeria Limited in managerial positions. Also, he served as the chairman of the Nigeria Discount Market Association from January 1998 to January 1999. His area of specialization include: investment banking, corporate finance, private equity, portfolio management, investments, emerging markets, financial modeling, risk management, business strategy and financial analysis. He is a graduate of the Imperial College of Science and Technology, London and Strathclyde University, Glasgow. He also holds a Masters in Business Administration degree from the London Business School, B.Sc., Mechanical Engineering (1976 – 1979) and MSc., Production Management & Manufacturing Technology (1980 –1982) Imperial College London.

Special Report

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Peter Amangbo

MD, Zenith Banks Plc Known as a ‘motivator and mentor,’ Peter Amangbo, holds an MBA from the Warwick Business School and a B.Eng in Electrical and Electronics Engineering from the University of Benin. He is also an alumnus of INSEAD and a fellow of the Institute of Chartered Accountants of Nigeria. Amangbo is the third chief executive officer of the 24-year-old bank. He has over two decades of banking experience with Zenith Bank in corporate finance and investment banking, business development, credit and marketing, treasury, financial control and strategic planning and operations. He was appointed to the board of the bank and its subsidiary companies in 2005, and was a pioneer Non-Executive Director of Zenith Bank UK. As an Executive Director of Zenith Bank for the last nine nine years, Amangbo was responsible for the supervision of corporate and commercial banking, corporate finance, trade services and all the subsidiaries of the bank. He was part of the team that drove the strategic planning and successful execution of positioning the bank as one of the best in the country. His leadership skills continue to make significant contributions to the bank’s growth. Before joining the banking industry, he was a senior consultant with PriceWaterhouseCoopers where he covered assignments in financial services, manufacturing and general commerce.

Emeka Emuwa MD, Union Bank

Emeka Emuwa is the Group Managing Director and Chief Executive Officer. He joined Union Bank Nigeria PLC after 25 years with Citigroup. He began his banking career in 1986 as a Management Associate with Citibank Nigeria Limited and eventually rose through the ranks to become its first Nigerian Managing Director and Chief Executive Officer. During his career with Citi, Emuwa held various senior positions within and outside Nigeria including assignments as Country Officer and Country head in Cameroon where he had regional responsibility for the bank’s Central African businesses in Gabon and Congo. He was also Country Officer for Citi in Tanzania, Ghana and Niger. Prior to his external and regional roles, Emuwa held several operational and client facing roles in Nigeria. He was appointed Country Officer and Managing Director in 2005 and held the position until his departure in 2012. Emuwa is a graduate of Finance from the University of Lagos and holds M.Sc. in Management from Purdue University’s Krannert School of Management.

Bola Adesola

MD, Standard Chartered Bank A seasoned financial services expert, Adesola is the Chief Executive Officer of Standard Chartered Bank Plc. As the CEO of Standard Chartered Bank, her main responsibilities include the provision of leadership for the Group in Nigeria, through the development of overall country strategy/direction; the provision of leadership on corporate governance issues; and the achievement of the overall country’s financial and headcount budgets. Adesola had worked as the Managing Director/Chief Executive of Kakawa Discount House Limited, a company she successfully repositioned from an essentially mono-product profile into a multi product enterprise. She spent nine years in Citibank Nigeria (Nigeria International Bank, a member of Citigroup). She was also part of the start-up team for Citibank, Tanzania, Dar es Salaam where she served as pioneer Treasurer. Adesola holds a Law degree from the University of Buckingham, United Kingdom, and was called to the Nigerian Bar in 1985.

Mr Timothy Oguntayo MD, Skye Bank

An alumnus of the prestigious INSEAD, Fontainebleau in France and a Fellow of the Chartered Institute of Bankers of Nigeria, Mr Timothy Oguntayo is the Managing Director/ Chief Executive Officer of Skye Bank Plc. He is also an Associate of the Institute of Chartered Accountants of Nigeria and has over two decades of banking experience in corporate finance and investment banking, business development, credit and marketing and operations. Prior to his appointment as the CEO of the bank, Oguntayo was the bank’s executive director responsible for the supervision of corporate and investment banking group, commercial

banking in the South-West region and all the international banking subsidiaries of the bank. His vast knowledge of banking easily advertises him as a cerebral authority within industry circles where he has benevolently enriched the existing literature and knowledge base of professional bankers through his well researched and properly documented views and insights on industry issues. Oguntayo started his banking career in 1981 with United Bank for Africa Plc. Having acquired extensive experience in Commercial and Retail banking, he joined the then Prudent Merchant Bank, in 1990. Timothy was appointed to the Board of the Bank and its subsidiary companies in 2009. He was the pioneer MD/CEO of Skye Financial Services Limited (the investment banking arm of Skye Bank) before the Bank’s divestment from it in 2012.

Philip Ikeazor

MD, Keystone Bank Mr. Philip Ikeazor is the Managing Director/Chief Executive Officer (CEO) of Keystone Bank, acquired by the Asset Management Corporation of Nigeria (AMCON) in 2011. A chartered accountant and graduate of Economics, University of Buckingham, England, Ikeazor is a professional banker with over 22 years cognate experience (largely in corporate and investment banking). He started his banking career in 1990 working for Nigerian American Merchant Bank, then affiliated to Bank of Boston, United States of America where he trained as a loan officer (19901996) and also worked at Merchant Banking Corporation (MBC), then affiliated to Bank Paribas (1996-2003). He was also director, Wholesale Banking with United Bank for Africa (UBA). Ikeazor had handled commercial and offshore banking assignments in Ecobank Nigeria Limited. He was the pioneer Managing Director/Chief Executive of Ecobank Kenya Limited; a medium- sized commercial bank in Kenya affiliated to the Ecobank Group, between May 2008 and February 2009.

Nurul Islam MD, Jaiz Bank

Mr Muhammad Nurul Islami from the Islami Bank Bangladesh Limited is the Managing Director/Chief Executive steering the affairs of Jaiz Bank Plc, Nigeria’s prominent Islamic finance institution. Until his appointment, Nurul Islami was a deputy managing director at the Islam Bank Bangladesh. He took over from Hassan Usman, who had been acting managing director of Jaiz Bank since April. Nurul Islam has vast knowledge of non-interest Islamic banking experience garnered for over three decades. He joined the Islami Bank Bangladesh Limited on the March 30, 1983 as an officer and within a decade he rose to the position of Assistant Vice President (AVP) in 1993, Vice President 1996, Senior Vice President (SVP) in 2000, Executive Vice President (EVP) in 2003, and then Deputy Managing Director (DMD) on February 10, 2010, a position he held until his appointment as MD/CEO by Jaiz Bank PLC. Prior to joining IBBL, he served at Agrani Bank Ltd from 1976 to 1983 as a Computer Professional recruited through IBM worldwide Corporation, USA. He is a member of many professional associations, including Life Member, Association of the Bankers’ Bangladesh. He holds Masters in Business Administration from the Institute of Business Administration (IBA), University of Dhaka in 1982, with a major in finance. He obtained a first class honour division in his MBA.

Ahmed Lawan Kuru MD, Enterprise Bank

Ahmed Lawan Kuru is the Managing Director/Chief Executive Officer of Enter of Enter Prior to his appointment, he was Executive Vice Chairman, Emeritus Capital Limited, a financial services firm, with specialty in international business development focusing in sub-Saharan Africa. He also played at the top echelon of Bank PHB Plc as an Executive Director, overseeing critical areas like, Risk Management, Compliance, Commercial Banking, Northern Operations, Public Sector, Multilateral Agencies and the West Coast, East and Central Africa expansion programme of the bank. He held several other top positions, including General Manager/Regional Manager in charge of bank operations at Habib Nigeria Bank. He holds the Bachelor of Science (B.Sc) and Master’s degrees in Business Administration of the Ahmadu Bello University (ABU), Zaria. He attended many local and international courses including, the Senior Management Development Programme by Philip Consulting in South Africa and Leadership Programmes at the London Business School.

40 Special Report Segun Oloketuyi MD, WEMA Bank

A consummate banker with several years of banking and managerial experience, until his appointment, The Managing Director of Wema Bank Plc, Mr. Segun Oloketuyi he was an Executive Director, Skye Bank with the responsibility for business development across Lagos and South-West directorates of the bank.  A Fellow of the Institute of Chartered Accounts of Nigeria (ICAN), a Second Class Upper Division graduate of Chemistry and MBA Alumnus, University of Lagos and the Advanced Management Programme of INSEAD, Fontainebleau, France, Oloketuyi has also attended various professional and leadership training programmes in the course of his banking career. He began his career in 1985 as an Auditor with the then Akintola Williams and Co. (Chartered Accountants). Prior to that, he was appointed the acting Managing Director of Bond Bank Plc in October 2005 during which he steered the bank through a successful merger process with Skye Bank Plc. Following the successful and hitch-free merger, he was appointed an Executive Director (Finance & Enterprise risk Management) in January 2006. He was also the Post-merger Integration Coordinator that worked with different integration teams and external consultants following the merger of the different legacy banks that formed Skye Bank Plc. A 2007 recipient of the distinguished Alumni Merit Award of the University of Lagos, Segun holds the memberships of the Institute of Directors (IOD) and the Ikoyi Club 1938.

Mr. Jibril Aku

MD, Ecobank Nigeria Mr. Jibril Aku has been The Managing Director and Chief Executive of Ecobank Nigeria Plc since March 2010. Until his appointment, he was also Executive Director of Ecobank Nigeria, since May 2006. Aku also served as Acting Treasurer of Citibank Tanzania and Country Treasurer at Citibank Nigeria. He started his banking career in 1979 with the United Bank for Africa Plc, where he worked for three years. Between 1986 and December 1987, he served at Continental Merchant Bank Plc, where he worked as a Credit and Investment Analyst. In 1988, he moved to Citibank Nigeria where he served in different capacities; holding many key management positions. He was Interbank Dealer from 1988 to 1991, Head of Dealing from 1991 to 1993 and Head of Treasury Marketing Unit from 1993 to 1996. He served as Executive Director of Operations & Information Technology of Afribank Nigeria Plc. Aku, who served as Acting Treasurer of Citibank Tanzania, was also Country Treasurer at Citibank Nigeria. As an experienced banker, Aku served the Money Market Association of Nigeria (MMA) at different levels, first as vice president since 1993 and later President since 1995. He served as Chairman of Risk Management Committee of First Securities Discount House Limited; Member of The Nigeria Inter-Bank Offered Rate (NIBOR) and a Director of Nigeria Inter-Bank Settlement System (NIBSS) Plc. Mr. Aku studied Business Administration in Banking and Finance at the Ahmadu Bello University where he graduated with Honours in 1986. He also holds a Diploma in Insurance in 1993 at the Institute of Administration, ABU Zaria and Masters of Business Administration, from the University of Benin.

Nnamdi Okonkwo MD, Fidelity Bank

Okonkwo assumed duties as the substantive Managing Director and Chief Executive Officer of Fidelity Bank Plc of effective January 1, 2014. Until his appointment, Okonkwo was the Executive Director in charge of the South Directorate of the bank. He holds a Bachelor of Science degree in Agricultural Economics from the University of Benin and an MBA in Banking & Finance from Enugu State University. He is also a graduate of the Advanced Management Programme of INSEAD Business School, Fontainebleau, France, as well as an alumnus of Harvard Business School and Wharton School University of Pennsylvania. In addition, he has attended various other business and management training programmes locally and overseas.  Okonkwo comes with over 24 years experience in various aspects of banking covering Domestic Operations, Corporate Finance, Corporate Banking, Retail, and Commercial/Consumer Banking. Before joining Fidelity, he had a shiny career in United Bank for Africa (UBA) where he rose to the position of Managing Director and CEO, UBA Ghana, and later doubled as the Regional Chief Executive Officer for UBA West African Monetary Zone, with responsibility for Ghana, Liberia and Sierra Leone.  Between 2004 and 2006, Okonkwo was General Manager in Standard Trust

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

(which later became UBA) and later in 2005 was Regional Director of UBA in charge of branches in the FCT, Niger and Kogi States. He later became Divisional Head for the Corporate Bank Directorate between 2009 and 2012, before coming back to Fidelity Bank Plc, as Executive Director, having earlier worked in Fidelity Bank (old FSB that consolidated to form the enlarged Fidelity) between 1998 and 2000. In that period he had been Senior Manager in branches both in Lagos and Port Harcourt.

Stephen Olabisi Onasanya MD, First Bank of Nigeria

Until his appointment as GMD/CEO of First Bank of Nigeria Plc, Stephen Olabisi Onasanya was Executive Director, Banking Operations & Services. Prior to joining the Board of FirstBank he was the Managing Director/Chief Executive Officer of First Pension Custodian Nigeria Limited, a wholly owned subsidiary of First Bank of Nigeria Plc. Onasanya, who has over 23 years post-qualification experience, began his banking career as Senior Accountant with Wema Bank in 1985. He joined FirstBank in 1994 as a Senior Manager and held several positions. He was Deputy General Manager and Group Head, Finance and Performance Management Department, as well as Coordinator, Century 2 Enterprise Transformation Project, before his appointment as MD/ CEO of First Pension Custodian in 2005. He holds an HND Upper Credit in Accountancy from Lagos State College of Science & Technology and is a Fellow of the Institute of Chartered Accountants of Nigeria and an Associate Member of the Nigeria Institute of Taxation. He is also a Director of FBN Bank (UK) Limited and FBN Insurance Brokers Limited

Uzoma Dozie

MD, Diamond Bank Mr. Uzoma Dozie, the first son of the founder of Diamond bank Plc, Mr. Pascal Dozie, was last Friday appointed the Group Managing Director/ CEO of the bank. Prior to the appointment, Dozie served as Deputy Managing Director of Retail Banking. He had also served at different times as Executive Director of Retail Banking and Executive Director of Corporate Banking, as well as Executive Director of Regional Business – Lagos and West. He has over 15 years cognate banking experience in three different financial institutions in Nigeria on the job. Dozie, who joined Diamond Bank in 1998 as an Assistant Manager and Head of Diamond Bank’s Oil and Gas Unit, also served as Financial Controller of Diamond Bank, from June 2001 to April 2004. He has been a Director of one of the faculties at the Lagos Business School since 2007 and has been an Executive Director of Diamond Bank Plc since 2005. He holds a Bachelor of Science degree in Chemistry from the University of Reading, Berkshire, a Master’s of Science degree in Chemical Research from the University College, London and a Master’s degree in Business Administration from the Imperial College Management School of London 1998.

Phillips Oduoza MD,UBA

Mr. Phillips Oduoza, the GMD/CEO of UBA Group commenced his banking career in 1987 with International Merchant Bank (IMB) as a Credit Officer, where he trained in credit analysis. Prior to that, he had a stint between 1988 and 1991 at Citibank, the world’s largest financial services institution, a period during which he was equipped with an indispensable knowledge of banking operations, relationship management, credit/marketing, efficient implementation of technology, risk management and lean banking methods. Consequently, in 1991, he worked with a small team of young and talented professionals to pioneer Diamond Bank PLC and built it into one of the strongest brands and most successful financial services entity in the country. As Executive Director, Operations & Technology at Diamond Bank in 1999, he transformed IT within the bank to global standards. In 2002, he became the Executive Director, Commercial/Retail Banking at the same bank until 2004. He joined Reliance Bank Limited in August 2004 as Deputy Managing Director, where he worked briefly before joining the Management and Board of Standard Trust Bank PLC in December 2004. He holds a 1st Class B.Sc. (Hons.) degree in Civil Engineering and an MBA (Finance), both from the University of Lagos. He has also undertaken the Advanced Management Programme of Harvard Business School and attended numerous banking, management and leadership courses. He has strengths in execution, talent management, technology integration and lean banking.

Business | Financial Market News

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

FMDQ Daily Quotations List

24-Oct-14

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

Bonds FGN Bonds

Price

Rating/Agency

Issuer

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

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

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

TOTAL OUTSTANDING VALUE

4,675.13

TOTAL MARKET CAPITALISATION

4,638.13

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

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

0.50 1.81 2.51 2.76 2.85 3.60 4.68 5.00 7.26 9.39 14.10 14.58 15.07 15.75 19.73

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

10.74 12.48 12.57 12.65 12.66 12.72 12.73 12.79 12.65 12.62 12.71 12.72 12.73 12.68 12.74

10.41 12.39 12.50 12.59 12.59 12.60 12.65 12.69 12.60 12.57 12.67 12.68 12.68 12.63 12.69

96.82 100.85 105.30 93.60 92.25 94.29 111.20 79.10 117.35 108.50 114.81 98.45 71.91 81.85 95.75

96.97 101.00 105.45 93.75 92.40 94.59 111.50 79.40 117.65 108.80 115.11 98.75 72.21 82.15 96.05

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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

978.35 24.56 3.00 112.22 116.70 66.49

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

0.02 0.58 1.32 2.13 2.49 2.70

1.00 2.63 2.27 2.00 1.00 1.00

11.70 13.53 14.27 14.59 13.64 13.65

99.78 92.64 103.59 100.57 98.32 95.58

Agency Bonds AMCON FMBN

***LCRM

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

TOTAL OUTSTANDING VALUE

1,301.32

TOTAL MARKET CAPITALISATION

1,293.19

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.85

4.44

15.81

97.40

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.69

3.23

14.32

99.53

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

0.98

4.46

16.05

98.50

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

0.98

3.48

15.08

100.93

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.49

5.59

18.22

84.11

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.53

1.00

13.23

101.03

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.19

1.79

14.47

98.77

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.36

1.80

14.42

99.30

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.95

1.00

13.74

100.74

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.36

1.00

13.62

101.92

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.36

4.78

17.40

93.76

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.74

1.00

13.65

101.89

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

2.99

1.00

13.67

104.33

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.08

1.00

13.78

102.53

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

2.96

2.74

15.41

98.56

A/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

11.40

10-Oct-20

3.52

1.00

13.71

102.77

Aa-/Agusto; AA-/GCR

LAGOS

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.00

27-Nov-20

6.09

1.00

13.73

99.04

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

6.19

1.94

14.66

101.28

A/Agusto A-/GCR

*EKITI *NASARAWA

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

31-Dec-13

14.50

4.78

31-Dec-20

3.67

1.44

14.16

101.06

06-Jan-14

15.00

4.79

06-Jan-21

3.70

1.95

14.67

101.03

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

471.18 463.76

Corporate Bonds Aa/Agusto Nil

GTB NGC

13.50 GUARANTY TRUST 18-DEC-2014

18-Dec-09

13.50

13.17

18-Dec-14

0.15

5.21

15.29

99.63

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

2.00

31-Dec-14

0.19

8.71

18.62

99.53

Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

3.61

17-Aug-15

0.57

4.88

15.76

97.41

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

13.62

09-Dec-15

0.65

1.00

12.01

100.48

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.60

06-Jan-16

0.72

2.63

13.78

100.85

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.93

1.00

13.53

99.10

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

2.00

1.34

13.92

100.56

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.93

1.00

13.67

98.41

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.73

30-Nov-17

1.75

1.88

14.27

106.92

BBB+/DataPro†; BB+/GCR

*C & I LEASING *DANA#

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.96

3.48

16.03

100.06

A-/DataPro†; BB-/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

2.13

5.20

17.79

100.62

101.80

AAA/DataPro†; A+/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

2.13

5.06

17.65

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.91

1.35

14.09

99.70

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.40

18-Oct-18

2.23

2.29

14.90

101.56

BBB-/DataPro†; BB+/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

17.00

0.41

17-Feb-19

2.32

6.11

18.73

97.23

BBB/GCR

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

3.19

2.16

14.84

102.85

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

6.06

2.76

15.49

99.05

A/GCR

STANBIC IBTC

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

30-Sep-14

N/A

0.10

30-Sep-24

9.94

1.00

13.62

87.00

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.94

1.00

13.62

97.98

11-Feb-18

3.30

1.00

13.69

90.93

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

144.16

TOTAL MARKET CAPITALISATION

143.45

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE

12.00 10.91

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.25

5.08

107.88

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

108.82

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.35

4.07

102.60

103.57

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.57

5.44

105.45

106.38

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,579.69

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

8.64

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

4.12

105.04

105.04 101.72

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.55

101.72

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.63

8.37

94.75

95.50

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.16

5.85

99.45

100.52

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

6.77

98.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

9.13

8.77

98.59

99.93

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.68

101.63

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

7.50

95.75

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

24-Jun-14

9.25

400.00

24-Jun-21

9.01

8.69

101.25

102.88

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

8.10

98.40

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.43

8.22

100.53

101.58

B-/Fitch; B/S&P

AFREN PLC III

B-/Fitch; B/S&P

ACCESS BANK PLC II

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

4,769.97

**Treasury Bills DTM 13 20 27 34 41 48 62

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

Bid Discount (%) 10.80 10.60 10.15 10.75 10.40 10.75 10.85

Offer Discount (%) 10.55 10.35 9.90 10.50 10.15 10.50 10.60

Bid Yield (%) 10.84 10.66 10.23 10.86 10.52 10.90 11.05

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.7917 12.3930 13.1284 13.9377

Tenor

Rate (%)

OBB

10.58

O/N

10.83

Tenor Call

REPO

Rate (%) 10.75

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

164.65 164.81 165.07 165.72 166.85

164.75 165.05 165.38 166.33 167.91

Business | Interview

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Why Islamic finance is not popular Unlike conventional finance that started over 500 years ago, Islamic banking, which was formed some 40 years ago, is becoming more popular, as Standard & Poor’s Ratings Services expects the growth of Islamic banks to gradually converge with that of their conventional peers over the next decade. But the reverse is the case in Nigeria. Head of Islamic Finance, World Bank Group, Abayomi Alawode, in this interview with Ayodele Aminu in Washington D.C. United States of America, says Nigeria has potential to explore and reap the benefits of Islamic finance, but the initiative is difficult to promote and aggressively develop in the country because of its religious nuance. Excerpts Islamic Banking is still relatively young in most countries and there are issues around awareness creation among the people for it to be fully embraced. What is your take on this? To start with, I agree with you that there is a need to raise awareness in Nigeria in particular around the issue of Islamic finance. One thing I want to make clear right away is that many people think Islamic finance is for Muslims only. That’s not true. I am a Christian myself and I have been doing this thing for the last five years and it is something I believe in not because of any religious conviction but because I think the model itself is sound and relevant for growth and development and I will tell you why. First, Islamic finance emphasises partnership between financial institution and businesses. That is to say you don’t necessarily have to give a loan for a business man waiting for loan and principals at the end of the day but you are encouraged to actually go into partnership with businesses wherein Islamic financial institution is like an investor going into a joint venture with a businessman. So, they have something at stake and the businessman has something at stake. So, the incentives are aligned for them to ensure that the business does well. So, at the end of the day, you have a situation where financial institutions are not just standby providers of finance but they are also active participant in business. So, Islamic finance does have this kind of instrument that encourage financial institutions to be a partner with businesses and this is good because for Small and Medium Enterprises, in particular, there is always a struggle to get loan from banks and other financial institutions because they don’t have collateral. If you don’t have collateral, you have very limited chance of raising funds externally if you are SME. But for Islamic financial transactions, what you then get is a situation where financial institutions are willing to go into partnership with businesses and we feel this offer a benefit with a chance for getting the capital they need for working capital as well as for investment. Most SME lacks god accounting system. So, how do you handle the challenges that come with this in Islamic banking? There is an instrument called ‘Mudaraba’ under Islamic finance. What this means is that the Islamic finance institution brings money to the table; let’s say you are a journalist and you want to set up a newspaper and you go a bank and say ‘I want to set up a newspaper in Nigeria’. The Islamic bank will say ‘okay’, we want to go into this business with you. We will give you X amount of dollars to set up the business. You will run the business because we don’t have experience in journalism but we will sign a contract that two of us, from day one, will closely track the money that we make.’ You may not have an existing business but a new business, where

Alawode

from, day one; you can track how much you are making. Everybody knows how much money you are making; you may not keep the records properly but if you keep the book properly, both the financial institutions and the businessman can track the returns from their investments. Remember that you want to make money; you don’t want to put all your efforts and make losses;

‘There is empirical evidence that Islamic finance is more resilient to economic shocks’

nobody wants to make losses. So, the businessman and the financial institution together will track the investments; you are putting in your time and energy, you will get returns based on the energy and time you have put in and you will track the profits, which you also have share in with the business. So, it sounds strange, especially in an environment, where you have conventional financing working for so many years. Remember that conventional finances were over 500 years old and Islamic banking was formed about 40 years ago. So, it is still taking time for people to understand how it works. But if you check the countries where it has worked, when you have this kind of transactions between financial institutions and businesses, there are challenges there is no doubt. There are more incentives for the two sides to work together to ensure that the business succeeds. So, we have seen this happening in other countries. Otherwise, you won’t see the growth of interest from any country, not even from Muslim countries because if you go to Europe now, they do have Islamic finance growing rapidly and last year,

David Cameroun said he wanted London to become the centre for Islamic finance in the Western world. South Africa has issued Sukuq a month ago; Hong Kong has issued a Sukuq because they see it not from religious side, but they are seeing some features and instruments that they can deploy to accelerate their economic development. The scenarios you have painted now bring us to the question of confidence and the relations between Islamic financier and businessman in an environment where the trust element is lacking. What is your take on this? Absolutely, the issue of tºrust is not only Islamic finance; you also see it in the conventional finance. If a businessman takes a loan from the bank, the bank will monitor how you are using the fund. They will come and check your books to see that you are spending the money appropriately. It is exactly the same in the Islamic banking. What is then the added confidence in Islamic finance? It is the fact that in Islamic finance, you need a strong legal framework for contract to be honoured. So, it is not that we shake hands and we all go and do whatever we like. No! There are

Business | Interview

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

in Nigeria, by World Bank legal documents that are signed and enforced. But problem comes in when enforcement is weak but this is also a problem for the conventional finance. So, it is not a problem with Islamic finance alone. It cuts across. So, how, therefore, does an Islamic finance works in an environment like ours, where sanctity of confidence is an issue? If you go to a conventional bank and you took a loan, you will still sign a contract. If though contracts are poorly enforced, everyday, contracts are still signed in Africa and in Nigeria in particular. You still have to enter into contracts and also go to court to enforce those contracts. If you rent a house from your landlord, you still enter into contract by paying your rents and so on. This is why the World Bank has a strong focus in helping countries in this environment where contracts and the rules of laws are not functioning properly. These are the basic building blocks of a well functioning financial system, whether conventional or Islamic, you still need those legal frameworks. So, we at the World Bank, help different countries including Nigeria in the area of legal reforms, putting in place stronger enforcement mechanism, not only for conventional finance but also for all forms of transactions. Africa may be behind but it is journey going towards a future where contacts are respected and where contracts are honoured and where court system functions efficiently. What do you think are the constraints to embracing the Islamic banking system in Nigeria? In Nigeria, the challenges are several but I think the Central Bank of Nigeria (CBN) has done a lot of work to put in place a regulatory framework for Islamic banking but you do have a big problem in term of perception and awareness. Anytime I talk to my fellow Nigerians about Islamic banking, they still see it from religious point of view. This is why the CBN could not call it Islamic banking; it calls it non-interest banking. So, that sends the signal that the word Islamic is loaded and the CBN took the step of shying away from that and they called it non-interest banking. Now, when people now see it from religious point of view in a country that historically has tension between Muslims and other religions; in a country where today, you have an Islamic insurgency in northern Nigeria, the Boko Haram; so it becomes really tricky to promote and aggressively develop Islamic banking until people become aware of it as not being for Muslims alone and not that through it, Muslims are trying to take over Nigeria or take over the Nigerian financial system. These are political economic issues really that you and I cannot solve; these are fundamental issues that we cannot wave our hands and they will go away. But until the general level of awareness increases and people understand the benefits of the Islamic institution and the overall environment improves, it is going to be challenging for Nigerian banks to develop. But it is not an issue unique to Nigeria. If you are familiar with Turkey, you will see that in Turkey as well, they could not call it Islamic banking because Turkey constitution says that Turkey is a secular country without a national religion. So, Turkey calls it Islamic banks ‘participation banks’. So, you do have challenges in some of these countries where the political economy is not conducive to

Alawode

aggressively promoting ‘Islamic banking’, because, it is either the constitution forbids it or the environment is not conducive to aggressively champion a particular form of finance that has got the religion attached to it. In case of any dispute on contracts between the Islamic investors and a businessman, do you take the case to the conventional court or courts, which base their judgment on Islamic jurisdiction? This is one area we are working on. This kind of thing is not only in Nigeria but it is predominant in Muslim countries. Let me pick one at random, like Unite Arab Emirate (UAE). If you go to UAE, they have a system, where for financial transactions, you have to agree beforehand, which court you are going to adopt to settle dispute should it arise. Why? Because, even though they have Sharia, Sharia does not cover all transactions. So, today, if you go to say, Dubai, they have what they call Dubai International Financial Centre, where you do have Islamic banks, where you have

‘Islamic finance emphasises partnership between financial institution and businesses’

Sukuq. However, the law they use is the common law of England and everybody agrees we are going to settle any dispute with the common law of England and the common law applicable in England. Which country in West Africa will you say this initiative (Islamic Finance) is succeeding? Well, in Africa, the Islamic finance is just starting. Nigeria has potential because of the population and the size of the economy. Senegal and Gambia are into Sukuk. From Mali, Burkina Faso, it is limited for now. Again, awareness is an issue and in addition, many of the countries are battling with so many other issues at this time. But in West Africa, Nigeria, Gambia and Senegal and Mauritanian are countries that can have strong interest in Islamic banking. Is World Bank just offering capacity in that respect? Our work in Islamic finance is what I would call ‘four main branches.’ The first one, we started lending money on Sharia-compliant principle. Two, projects are ongoing in Egypt and Turkey, where we have loans to SMEs in form of Islamic finance loans but the loans go to the countries first and then, the government disburses on Sharia-compliant basis by first of all, lending the money to Islamic banking and then the Islamic finance institution, which in turn, lend to the SMEs. This means we are providing the liquidity and then lend this on Sharia-compliant basis to SMEs. In Egypt, it is the same structure, it is just that Islamic banks there are using this to finance leases, they are leasing equipment to SMEs because many SMEs there want leases. Now, we are trying another one in Bangladesh, which is also another project that provides money to SMEs. So, we do have loans that we are giving out now that lend on Sharia-compliant basis. Secondly, our private-sector arm,

the International Finance Corporation (IFC), does take equity in Islamic banks because the IFC is a profit-making entity and it does equity investment and invests in Islamic banks. Thirdly, we have knowledge and capacity building initiatives, which I just described. We do a lot of workshops, for instance. We have Islamic Finance Centre based in Istanbul, through which we are doing conferences and workshops, policy dialogue to raise awareness. Many of these issued you raised, we brought them up; we bring lawyers, Sharia experts, who debate what the problems are and what possible solutions that may be proffered. Then we offer direct assistance to central banks and regulators. In Nigeria, we may start doing something soon because we have gotten a request from the CBN to explore possible ways in which we can collaborate to develop Islamic finance and in the first phase of this programme, it might be conference and workshops to raise awareness to move forward including how Islamic finance is relevant to Nigeria’s economic development. So, there is a range of things that we have and we can deploy this in different countries depending on the needs. Like how much has World Bank voted for this? Well, the two projects I am talking about, if you look at Islamic finance components of the two projects, it is about $200 million. $50 million in Egypt and $150 million in Turkey and this are over the next five years as money available to disburse for the projects on Sharia-compliant basis. However, if we begin to get into infrastructure projects, you can expect this to get much bigger because infrastructure projects usually involve a lot of budget and here we expect to leverage available public sector financing. In Nigeria, for instance, it is the public sector that does the financing of this infrastructure. So, if you bring Islamic finance, it is a case of bringing in private sector to join with the public sector money in the Public Private Partnership (PPP) type of arrangement. What will be your advice to the Federal Government on Takaful micro insurance as insurance awareness has been a major issue? Yes. You have made a valid point. Even conventional insurance is not well developed in Nigeria and it is not a Nigerian problem; it is a global problem. Conventional insurance has not really developed in many countries. What you discover is that there is a linkage in level of development and level of development of insurance. Insurance is more active in the advanced economy because of the income level; people are willing to pay premium because the per capital income is impressive. So, many developing countries struggle to develop conventional insurance and you are absolutely right that Takaful will struggle to develop conventional insurance itself in an environment like Nigeria. The advice we have given other countries, which is the same advice I will give the CBN is that you need to go stage by stage: get the banking right first; if you look at global Islamic finance, banking is over 80 per cent of global Islamic finance and even in countries where they have well-developed Islamic finance system like Malaysia, banking is the biggest. So, our own advice is that, get the banking sector right first before you start looking aggressively at insurance.

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.85

4.44

15.81

97.40

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.69

3.23

14.32

99.53

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

0.98

4.46

16.05

98.50

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

0.98

3.48

15.08

100.93

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.49

5.59

18.22

84.11

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.53

1.00

13.23

101.03

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.19

1.79

14.47

98.77

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.36

1.80

14.42

99.30

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.36

1.00

13.62

101.92

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.36

4.78

17.40

93.76

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.74

1.00

13.65

101.89

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

2.99

1.00

13.67

104.33

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.08

1.00

13.78

102.53

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

2.96

2.74

15.41

98.56

A/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

11.40

10-Oct-20

3.52

1.00

13.71

102.77

Aa-/Agusto; AA-/GCR

LAGOS

A-/Agusto; BBB+/DataPro

KOGI

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

30-Sep-24

9.94

1.00

13.62

97.98

11-Feb-18

3.30

1.00

13.69

90.93

Business | Financial Market News

MONDAY, OCTOBER 27, 201413.74 NEW TELEGRAPH 3.95 1.00 100.74

Oteh is W’ African ‘business woman of the year’ 27-Nov-13 13.50 LAGOS at IV 27-NOV-2020 business awards the year’s AABLA Awards 15.00 KOGI 31-DEC-2020 gameAll Africa Business Lead- exemplified the 31-Dec-13 31-Dec-13 A/Agusto *EKITI 14.50 EKITI II 31-DEC-2020 ers Awards (AABLA) orchanging vision that had 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 SEC DG recognised ganised by ABN Group, helped to grow the West TOTAL OUTSTANDING VALUE for being through broadcast part- African economy, with TOTAL MARKET CAPITALISATION ner, CNBC Africa, in La- Nigeria making incrediinstrumental to Corporate Bonds gos weekend, was hon- ble strides in this regard. Nigeria’s growth GTB GUARANTY TRUST 18-DEC-2014 18-Dec-09 Aa/Agusto oured for 13.50 her peerless “Johnnie Walker Blue µ 17.00 NGC 31-DEC-2014 01-Apr-10 NGC Nil vision and10.00 dedication in Label is proud to acknowlUPDC 17-AUG-2015 17-Aug-10 Bbb-/Agusto *UPDC her role as12.00 Director-Genedge all these individuals FLOURMILLS 9-DEC-2015 A-/Agusto 09-Dec-10 *FLOURMILLS Stories by Chris Ugwu eral of SEC Nigeria. who, through their tire14.00 CHELLARAMS 06-JAN-2016 BB+/GCR 06-Jan-11 *CHELLARAMS 29-SEP-2016 less innovation and A+/Agusto; A-/GCR 29-Sep-11 She was13.00 alsoNAHCO honoured pioNAHCO 14.25instrumenFSDH 25-OCT-2016 A-/Agusto he Director-GenFSDH for being an neering spirit, have25-Oct-13 made UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA eral, Securities tal force in13.00 the ongoing a lasting impact on the 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING and Exchange growth and development continent’s business sec# MPR+7.00 DANA 9-APR-2018 09-Apr-11 BBB+/DataPro†; BB+/GCR *DANA C o m m i s s*TOWER i o n# of Nigeria’s economic tor. The fact that all winMPR+7.00 TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; BB-/GCR # (SEC), Ms. Arunma Oteh, landscape, according to ners were from Nigeria MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A+/GCR *TOWER emphasises the impact has emerged a statement from 14.00 UBA II SEC. 22-SEP-2018 A/Agusto; A/GCR the West 22-Sep-11 UBAAf15.75 CASERA 18-OCT-2018 Bbb+/Agusto; BBB+/GCR Woman 18-Oct-13 *LA CASERA the country’s business Speaking atLAthe event, rica’s Business # MPR+5.00 CHELLARAMS of ABN II 17-FEB-2019 ofBBB-/DataPro†; the YearBB+/GCR 2014. *CHELLARAMSHead of Reserve leaders are having 17-Feb-12 on the 16.00 DANA II 1-APR-2019 BBB/GCR 01-Apr-14 *DANA Oteh, who emerged Group, Mr. Joe Nazzal, continents’ business land15.25 NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR 14-Nov-13 NAHCO Africa’s most prestigious said the nominees in this scape” he added. 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR 30-Sep-14 STANBIC IBTC

HONOUR

T A/GCR

STANBIC IBTC

In 13.50 her remarks,87.00 Oteh 15.00 5.00 expressed gratitude to 14.50 4.78 CNBC15.00 Africa which 4.79she said had changed the 471.18 landscape of business 463.76 reporting and connecting Africa to the world. 13.50 13.17 “I just want to say that 17.00 2.00 this recognition for me 10.00 3.61 means very much. I had 12.00 13.62 vision, but I had a0.60 team 14.00 13.00 15.00 around me, the SEC staff 14.25 5.53 viwho tapped into that 13.00 20.00 sion. We also have had cap18.00 0.73 ital market operators who 16.00 6.30 have aligned behind our 18.00 2.90 vision. I want to celebrate 16.00 0.80 SEC staff, 14.00 capital market 35.00 15.75 and Nigerians. 2.40 operators 17.00is very important 0.41 “This 4.50 to me16.00 because I think it is 15.25 2.05 an outstanding category N/A 0.10 13.25

UBA’s pre-tax profit down, earnings up

15.44

Courteville reports 17% increase in pre-tax profit

TOTAL OUTSTANDING VALUE

144.16

TOTAL MARKET CAPITALISATION

143.45

Supranational Bond nited Bank

for Af- while commenting on the profitable. 10.20the IFC 11-FEB-2018 11-Feb-13 “We are confident that rica (UBA) PlcIFChas results, said bank’s TOTAL OUTSTANDING recorded a 12VALUE per gross earnings received our performance will TOTAL MARKET CAPITALISATION cent growth in gross earn- a boost from interest in- continue to improve in ings for the third quarter come, which rose 12.5 per the last quarter 2014, with Description Rating/Agency Issue Date ended September 30, 2014. Issuer cent to N149 billion in the increased contribution to Group Balance sheet The bank in a filing same period. FGN Eurobonds with the Nigerian Stock “The rise in gross from the African subsid2021 in-JAN 28, iaries,” Oduoza said. Exchange (NSE) grew earnings reflects the 6.75 BB-/Fitch; B+/S&P 07-Oct-11 earnings from N188 bilcreasing business activThe bank announced BB-/Fitch; FGN 5.13 JUL 12, 2018 BB-/S&P lion in 2013 to N210 bil- ity across our operations, a deal with Ixaris12-Jul-13 and BB-/Fitch; its lion for the nine-month as we support businesses 6.38 JUL 12, 2023 Nigerian partner 12-Jul-13 BB-/S&P period ended September, and institutions with the “Ojapay” to deploy a virTOTAL OUTSTANDING VALUE accounting for an in- finance to exploit emerg- tual card platform across TOTALof MARKET crease 12 perCAPITALISATION cent. ing opportunities on the its 20 African markets. Its operating income continent. The lender will use Corporate Eurobonds firmed up by 6.6 per cent “The operating inIxaris payment server to 11.50 FEB 01, 2016 B/Fitch; B-/S&P AFREN PLC I 01-Feb-11 to B+/Fitch; N138.389 billion from come of N138 billion for deliver innovative pay7.50 MAY 19, 2016 B+/S&P GTBANK PLC I 19-May-11 N129.866 billion recorded the nine-month period7.25 toJUL 25,ment options for 25-Jul-12 indi2017 B+/S&P ACCESS BANK PLC during the comparable 30 September, 2014, repviduals and corporates. 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC 09-May-13 year of B+/S&P 2013 whileGTBANK the PLCresenting a 6.6 per cent “They will offer our 6.00 NOV 08, 2018 B+/Fitch; 08-Nov-13 pretax atPLC IIincrease over the correcustomers across Africa 10.25 APR 08, 2019 B/Fitch profit stood AFREN 08-Apr-12 N42.543 billion as against period of last a 2019 new layer protection 6.25 APR 22, B+/Fitch; BB-/S&P ZENITH BANKsponding PLC 22-Apr-14 8.75 May 21, 2019security for their B/Fitch; B/S&P DIAMOND BANK PLC shows the strong 21-May-14 year, N43.428 billion recorded and on2020 transactions,” B-/Fitch;earlier. B/S&P FIRST BANK PLC 07-Aug-13 a year underlying operating8.25 ef-AUG 07, line said 6.63 DEC 09, 2020 B-/Fitch; AFREN PLC IIIficiency of UBA business 09-Dec-13 The B/S&P Group ManagDeputy Managing DirecUSD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS PLC II 24-Jun-14 ing Director/CEO, UBA BANK globally , and the9.25/6M capacity tor and CEO, UBA Africa, 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD 23-Jul-14 Group, Philips Oduoza, of the business to remain Mr. Kennedy Uzoka. AAA/S&P

B-/S&P

8.75 AUG 14, 2021

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

10.20

12.00

12.00 10.91 ourteville

Business SoluAlso, basic earnings per tion Plc has recorded 17 share increased from N7.53 in Outstanding Value Date inBid Yield (%) the OfferQ3 Yield of (%) 2013 Bid Price Offer Price per centMaturity growth preto N10.5 in the ($mm) tax profit for the third quarter review period of 2014. Prices & Yields The Chairman of the comended September 30, 2014. pany, Murtala The statement of financial 500.00 28-Jan-21 5.25 5.08Group Captain 107.88 108.82 position of the company in a Salami (rtd), had at the com500.00 12-Jul-18 4.35 4.07 102.60 filing with the Nigerian Stock pany’s Annual General103.57 MeetExchange (NSE) showed that ing 5.44 recently 105.45 in Lagos,106.38 said, 500.00 12-Jul-23 5.57 the profit before tax (PBT) in- “the company initiated a mix 1,500.00 creased 17 per cent to N365.683 of long-range strategies and 1,579.69from N313.423 million million agile tactical responses to the in the Q3 of 2013. challenges and opportunities Similarly, profit after tax that8.64 were developing in the 450.00 01-Feb-16 8.64 103.30 103.30 (PAT) firmed up 16 per cent to environment. 500.00 19-May-16 4.12 4.12 105.04 105.04 N310.830 million25-Jul-17 from N267.588 Salami noted that the 350.00 6.55 6.55 101.72 101.72 million recorded in the correthrust of these strategies and 300.00 02-May-18 8.63 8.37 94.75 95.50 sponding period of 2013. 6.16 responses, which to cre400.00 08-Nov-18 5.85 99.45 were 100.52 The also posted ate a9.68sound base 300.00 company 08-Apr-19 9.68 102.00 for sustain102.00 revenue of N1.116 in able6.77 future growth, was 500.00 22-Apr-19billion 6.77 98.00 98.00 the 200.00 quarter 21-May-19 9.13 8.77 99.93 adoption of a98.59 new strategic its third (Q3) 2014 pe7.68 7.68 101.63 101.63 endirection that had been riod300.00 compared07-Aug-20 with N913.863 360.00 recorded 09-Dec-20 7.50 7.50 95.75 million in the same capsulated in95.75 a five-year plan 400.00 of 2013; 24-Jun-21 8.69 101.25 effectively 102.88 period indicating9.01a document and 450.00 23-Jul-21 8.10 8.10 98.40 98.40 growth of 22 per cent. rolled out in 2013.

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

14-Aug-14

8.75

250.00

14-Aug-21

8.43

4,760.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

13.73 99.04was for27-Nov-20 what we do 6.09 at SEC. I 1.00in the recognition 31-Dec-20 6.19 1.94 14.66 101.28 think what we have done that around the world, 31-Dec-20 3.67 1.44 14.16 101.06 is to create an enabling en- 1.95capital market regulators 06-Jan-21 3.70 14.67 101.03 vironment such that busi- feel that there is a greater nesses can realise their po- understanding of the role tential but also such that that capital market plays our nation can realise its in transforming society. 18-Dec-14 15.29 99.63 it is to help potential. But 0.15 in doing 5.21 “Whether 31-Dec-14 0.19 8.71 18.62 99.53 that, what we have seen is businesses or create jobs, 17-Aug-15 0.57 4.88 15.76 97.41 that we have been it is just100.48 build09-Dec-15 0.65 such a 1.00whether 12.01 role model for other couning a meritocracy, 06-Jan-16 0.72 2.63 13.78 100.85but 29-Sep-16 99.10 the tries around the1.93 world be- 1.00even as 13.53 we deal with 25-Oct-16 2.00 bold,” 1.34security 13.92 100.56that cause we have been challenges 30-Sep-17 2.93 1.00 98.41 Oteh said. we face 13.67 today, all of us as 30-Nov-17 1.75 1.88 14.27 106.92 While admitting that regulators, whether mar09-Apr-18 1.96 3.48 16.03 100.06 the09-Sep-18 Commission had ket participants believe 2.13 5.20 17.79 100.62 taken some risks market 09-Sep-18 2.13 in the 5.06that what 17.65capital 101.80 course of doing3.91 its work, 1.35does is 14.09 to enable99.70 social 22-Sep-18 18-Oct-18 2.23 14.90 and 101.56 enable she, however, said that 2.29cohesion 17-Feb-19 18.73 some 97.23 of the those risks had2.32 paid off, 6.11us address 01-Apr-19 3.19 14.84 102.85 that we face adding that what was 2.16challenges 14-Nov-20 6.06 2.76 15.49 99.05 most important for her today ,” she said. 30-Sep-24 9.94 1.00 13.62 87.00

8.22

100.53

101.58

24-Oct-14 CEO, ETI, Thierry Tanoh

4,769.97

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

13 20 Bonds27 34 41 Rating/Agency 48 62 69 76 83 90 97 104 111 118 NA 125 132 139 153 167 181 195 286 314

TOTAL OUTSTANDING VALUE

6-Nov-14 13-Nov-14 20-Nov-14 27-Nov-14 4-Dec-14 Issuer 11-Dec-14 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 23-Apr-15 7-May-15 6-Aug-15 3-Sep-15

10.80 10.60 10.15 10.75 10.40 Description 10.75 10.85 10.85 4.00 23-APR-2015 10.65 13.05 16-AUG-2016 10.70 15.10 27-APR-2017 9.25 9.85 27-JUL-2017 10.85 9.35 31-AUG-2017 10.20 10.70 30-MAY-2018 11.00 16.00 29-JUN-2019 10.35 7.00 23-OCT-2019 11.00 16.39 27-JAN-2022 10.90 14.20 14-MAR-2024 11.00 15.00 28-NOV-2028 11.10 12.49 22-MAY-2029 10.90 8.50 20-NOV-2029 10.20 10.35 10.00 23-JUL-2030 10.75 12.1493 18-JUL-2034 10.65

10.55 10.35 9.90 10.50 10.15 Issue Date 10.50 10.60 10.60 23-Apr-10 10.40 16-Aug-13 10.45 27-Apr-12 9.00 27-Jul-07 10.60 31-Aug-07 9.95 30-May-08 10.75 29-Jun-12 10.10 23-Oct-09 10.75 27-Jan-12 10.65 14-Mar-14 10.75 28-Nov-08 10.85 22-May-09 10.65 20-Nov-09 9.95 10.10 23-Jul-10 10.50 18-Jul-14 10.40

10.84 10.66 10.23 10.86 10.52 Coupon 10.90 (%) 11.05 11.08 4.00 10.89 13.05 10.97 15.10 9.47 9.85 11.17 9.35 10.51 10.70 11.38 16.00 10.71 7.00 11.43 16.39 11.35 14.20 11.48 15.00 11.64 12.49 11.47 8.50 10.74 10.96 10.00 11.74 12.1493 11.72

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

TOTAL MARKET CAPITALISATION

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

Issuer

Description

AMCON

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 Total Outstanding Porfolio Market Value(Bn) 0.00/16.00 LCRM 09-DEC-2016 Volume(Bn) 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM1,045.47 III 06-JUL-2017 1,016.68

Issue Date

Agency Bonds

FMBN Modified Duration Buckets

***LCRM

TOTAL OUTSTANDING VALUE

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

(N'bn)

535.00 23-Apr-15 563.89 16-Aug-16 NITTY 452.80 27-Apr-17 Tenor Rate (%) 20.00 27-Jul-17 1M 10.6233 100.00 31-Aug-17 2M 11.0328 300.00 30-May-18 3M 11.0651 351.30 29-Jun-19 6M 11.2758 233.90 23-Oct-19 9M 11.4746 600.00 27-Jan-22 12M 11.5844 371.68 14-Mar-24 75.00 28-Nov-28 150.00 22-May-29 NIFEX 200.00 20-Nov-29 Current Price ($/N) 591.57 23-Jul-30 BID($/N)130.00 164.5000 18-Jul-34 OFFER ($/N)

4,675.13

Coupon (%)

BOND 28-Dec-11 FMDQ FGN 0.00 24-May-10 0.00 03-Apr-12by 17.25by Mkt Weighting Weighting 09-Dec-11Vol 0.00/16.00 Outstanding Value 20-Apr-12 0.00/16.50 06-Jul-1233.21 0.00/16.5033.17

3<5

1,094.75

951.30

31.08

34.73

1,011.95

1,093.25

35.71

32.10

Market

3,152.17

3,061.23

100.00

TOTAL MARKET CAPITALISATION

Rate (%) 10.7917 12.3930 13.1284 Maturity Date 13.9377

164.6000

OBB

10.58

O/N

10.83

REPO

TTM (Yrs) Tenor Call 1M 0.50 3M 1.81 6M 2.51

Bid Yield Rate (%) (%) 10.75 12.21 10.74 13.29 12.48 14.15 12.57

Tenor Spot 7D 14D Offer Yield 1M (%) 2M 3M 10.41 6M 12.39 1Y 12.50

2.76 12.65 12.59 2.85 12.66 12.59 3.60 12.72 12.60 :Benchmarks 4.68 12.73 12.65 * :Amortising Bond 5.00 12.79 12.69 µ :Convertible Bond 7.26 Management 12.65 12.60 AMCON: Asset Corporation of Nigeria 9.39 Government of12.62 12.57 FGN: Federal Nigeria 14.10 Mortgage Bank 12.71 12.67 FMBN: Federal of Nigeria 14.58 12.72 12.68 IFC: International Finance Corporation 15.07Contractors Receivables 12.73 12.68 LCRM: Local Management NAHCO: 15.75 Nigerian Aviation Handling 12.68 Company12.63 O/N: Overnight 19.73 12.74 12.69 NOTE:

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

Bid ($/N)

Offer ($/N)

164.65 Price 164.75 164.81 165.05 165.07 165.38 Bid Price Offer Price 165.72 166.33 166.85 167.91 168.01 169.63 96.82 96.97 171.72 175.13 100.85 101.00 179.17 187.13 105.30 105.45

93.60 93.75 92.25 92.40 94.29 94.59 NA :Not Applicable 111.20 111.50 # :Floating Rate Bond 79.10 79.40 ***: Deferred coupon bonds 117.35 117.65 108.50 †: Bond rating expired 108.80 114.81 115.11 N/A :Not Available 98.45 98.75 71.91 72.21 NGC: Nigeria-German Company 81.85 82.15 UBA: United 95.75 Bank for Africa 96.05

4,638.13

Rating/Agency

NIBOR

Bonds

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

24.56 3.00 Bucket Weighting 112.22 116.70 66.49 0.33

31-Oct-14 24-May-15 % 03-Apr-17 Exposure_ 09-Dec-16 Mod_Duration 20-Apr-17 06-Jul-1714.24

0.02 0.58 1.32 Implied Yield 2.13 2.49 12.53 2.70

1.00 2.63 2.27 Implied 2.00Price Portfolio 1.00 118.4745 1.00

1,301.320.31

Outstanding Value (N'bn)

INDEX978.35

Valuation Yield (%)

Indicative Price

11.70 13.53 14.27 INDEX 14.59 13.64 1,125.27 13.65

99.78 92.64 YTD103.59 Return 100.57 (%) 98.32 12.5266 95.58

12.8190

30.29

12.68

133.2358

1,128.19

0.36

55.46

12.67

102.9085

1,203.18

20.3181

1.00

100.00

12.65

117.5026

1,122.05

12.2048

1,293.19

Sub-National Bonds A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.85

4.44

15.81

97.40

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.69

3.23

14.32

99.53

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

0.98

4.46

16.05

98.50

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

0.98

3.48

15.08

100.93

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.49

5.59

18.22

84.11

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.53

1.00

13.23

101.03

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.19

1.79

14.47

98.77

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.36

1.80

14.42

99.30

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.95

1.00

13.74

100.74

Daily Summary as of 24/10/2014

Printed 24/10/2014 15:00:05.005

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Daily Summary as of 24/10/2014 Printed 24/10/2014 15:00:05.005

Daily Summary (Bonds)

Business | Capital Market

The Nigerian Stock Market Exchange as at October 24, 2014

No Debt Trading Activity

Daily Summary (Equities)

Activity Summary on Board EQTY

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

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 3 10 17 30

Current Price 0.50 33.00 32.05

Quantity Traded 93,830 37,150 813,078 944,058

Value Traded 46,915.00 1,164,667.50 26,059,149.90 27,270,732.40

Symbol LIVESTOCK

No. of Deals 23 23

Current Price 2.95

Quantity Traded 511,645 511,645

Value Traded 1,504,731.40 1,504,731.40

1,455,703

28,775,463.80

Quantity Traded 110,583 200 20,073,190 138,745 20,322,718

Value Traded 164,258.91 752.00 100,789,986.79 7,396,427.69 108,351,425.39

20,322,718

108,351,425.39

AGRICULTURE Totals CONGLOMERATES Daily Summary as of 24/10/2014 Diversified Industries Printed 24/10/2014 15:00:05.005 A.G. LEVENTIS NIGERIA PLC.

CHELLARAMS PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

53 Symbol AGLEVENT CHELLARAM TRANSCORP UACN

Daily Summary

No. of Deals 15 1 173 48 (Equities) 237

CONGLOMERATES Activity Summary onTotals Board EQTY

CONSTRUCTION/REAL ESTATE Published by The Nigerian Stock Exchange © Building Structure/Completion/Other COSTAIN (W A) PLC. G CAPPA PLC Building Structure/Completion/Other Totals

Current Price 1.45 3.95 5.00 54.02

237

Page Quantity Traded 364,928 10,000 374,928

1 of 12 Value Traded 340,468.40 137,400.00 477,868.40

Symbol COSTAIN GCAPPA

No. of Deals 18 1 19

Current Price 0.93 14.46

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

Symbol JBERGER

No. of Deals 27 27

Current Price 67.20

Quantity Traded 86,183 86,183

Value Traded 5,230,452.10 5,230,452.10

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

Symbol UAC-PROP

No. of Deals 21 21

Current Price 14.00

Quantity Traded 129,844 129,844

Value Traded 1,813,283.39 1,813,283.39

590,955

7,521,603.89

Current Price 14.94 0.88 182.00 31.82 170.00 3.98

Quantity Traded 3,333 50,000 3,770,765 2,026,434 1,618,898 11,087 7,480,517

Value Traded 47,328.60 44,000.00 686,122,647.16 62,207,287.31 275,289,048.73 42,019.73 1,023,752,331.53

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers Daily Summary as of 24/10/2014 CHAMPION BREW. PLC. Printed 24/10/2014 15:00:05.005 GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals

Activity Summary on Board EQTY CONSUMER GOODS Beverages--Non-Alcoholic

7-UPNigerian BOTTLING COMP. PLC.© Published by The Stock Exchange Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals Food Products--Diversified CADBURY PLC. Daily Summary as of NIGERIA 24/10/2014 NESTLE NIGERIA PLC. Printed 24/10/2014 15:00:05.005 Food Products--Diversified Totals

67 Symbol No. of Deals CHAMPION 1 GOLDBREW 1 GUINNESS 41 INTBREW 35 NBSummary (Equities) 162 Daily PREMBREW 7 247

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM UNIONDICON UTC

No. of Deals 6 41 51 24 29 1 10 1 163

Current Price 6.55 7.70 61.40 3.99 9.00 21.99 13.41 0.50

Quantity Traded 44,555 673,421 132,002 139,758 569,100 25,000 100,000 61 1,683,897

Value Traded 277,577.65 5,192,330.34 7,713,451.29 546,215.40 5,129,355.00 522,500.00 1,274,000.00 30.50 20,655,460.18

Symbol CADBURY NESTLE

No. of Deals 37 51 88

Current Price 49.89 999.00

Quantity Traded 842,400 39,682 882,082

Value Traded 42,143,731.63 39,297,291.10 81,441,022.73

No. of Deals Current Price 29 4.30 29 Summary (Equities)

Quantity Traded 370,895 370,895

Value Traded 1,566,302.45 1,566,302.45

Quantity Traded 1,536,523

Value Traded 38,873,154.53

Symbol PZ

Personal/Household Products UNILEVER NIGERIA PLC. Personal/Household Products Totals

No. of Deals 123

Symbol UNILEVER

Current Price 26.99

No. of Deals 50 173

CONSUMER GOODS Totals

Page

Current Price 40.00

Quantity Traded 215,904 1,752,427

725

IT Services COMPUTER WAREHOUSE GROUP PLC Activity Summary on Board EQTY ICT IT Services NCR (NIGERIA) PLC. IT Services Totals

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DNas MEYER PLC. Daily Summary of 24/10/2014 PORTLAND PAINTS & PRODUCTS NIGERIA PLC Printed 24/10/2014 15:00:05.005 LAFARGE AFRICA PLC. Building Materials Totals

Value Traded 2 of 12 14,159,405.95 14,159,405.95

Personal/Household Products

P Z CUSSONS PLC. EQTY Activity SummaryNIGERIA on Board

Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals

No. of Deals 156 49 75 40 289 64 49 263

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

NATURAL RESOURCES Mining Services MULTIVERSE PLC Mining Services Totals

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

Daily Summary as of 24/10/2014 Printed 24/10/2014 15:00:05.005 Integrated Oil and Gas Services 12

OANDO PLC Integrated Oil and Gas Services Totals

Value Traded Petroleum and Petroleum Products Distributors 8,376,365.43 CONOIL PLC 47,249,519.96 ETERNA PLC.

Activity Summary on Board EQTY

1,188,824,042.80FORTE OIL PLC.

Petroleum and Petroleum Products Distributors Value Traded MOBIL OIL NIG PLC. 109,226,074.48 14,015,211.86 MRS OIL NIGERIA PLC. 66,869,061.84 TOTAL NIGERIA PLC.

Quantity Traded 12,492,060 2,209,267 3,662,513 1,046,865 29,017,815 1,122,478 19,185,130 13,232,270

Petroleum and Petroleum Products Distributors Totals 2,051,227.90 789,214,618.41 Exploration and Production 3,106,642.05 SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 44,658,824.17 Exploration and Production Totals 75,593,985.25

Symbol UBN UNITYBNK WEMABANK ZENITHBANK

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

Current Price 9.06 0.50 0.94 22.59

Quantity Traded 223,168 5,158,100 2,424,482 15,687,721 105,461,869

No. of Deals 17 8 1 2 1 2 1 10 7 21 2 11 1 (Equities) 1 2 1 64

Current Price 0.81 0.92 0.50 0.50 0.50 0.52 0.50 2.98 0.54 0.76 0.50 0.50 0.50 0.50 0.50 0.50 0.65

Quantity Traded 521,138 1,055,541 145,200 40,000 1,000,000 50,530 160 1,207,028 1,177,700 2,004,443 40,500 885,641 1,000 5,000 3,774 1,182,550 4,303,775

Value Traded 425,251.73 Page 971,397.72 72,600.00 20,000.00 500,000.00 26,270.30 80.00 3,599,310.97 635,958.00 1,544,425.96 20,250.00 442,840.50 500.00 2,500.00 1,887.00 591,275.00 2,794,482.68

Symbol

No. of Deals 152

Current Price

Quantity Traded Page 13,623,980

5Value Traded of 12 11,649,029.86

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

Symbol NPFMCRFBK

No. of Deals 9 9

Current Price 0.97

Quantity Traded 767,000 767,000

Value Traded 755,190.00 755,190.00

Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC RESORT SAVINGS & LOANS PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals

Symbol ABBEYBDS RESORTSAL UNHOMES

No. of Deals 1 1 2 4

Current Price 1.30 0.50 0.50

Quantity Traded 300 200,000 40,522 240,822

Value Traded 390.00 100,000.00 20,261.00 120,651.00

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

No. of Deals 43 11 367 51 10 32 87 601

Current Price 3.20 4.00 12.32 4.09 0.51 31.00 2.00

Quantity Traded 1,361,199 50,919 11,878,966 4,323,419 700,000 9,360,409 2,122,515 29,797,427

Value Traded 4,354,366.25 196,355.60 146,470,234.12 17,506,248.78 357,613.20 294,724,310.53 4,304,853.10 467,913,981.58

149,891,098

1,946,203,134.85

Insurance Carriers, Brokers and Services Symbol AIICO INSURANCE PLC. AIICO CONTINENTAL REINSURANCE PLC CONTINSURE EQUITY ASSURANCE PLC. EQUITYASUR GUINEA INSURANCE PLC. GUINEAINS CONSOLIDATED HALLMARK INSURANCE PLC HMARKINS INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS LASACO ASSURANCE PLC. LASACO MANSARD INSURANCE PLC MANSARD Daily Summary as of 24/10/2014 MUTUAL BENEFITS ASSURANCE PLC. MBENEFIT Printed 24/10/2014 N.E.M15:00:05.005 INSURANCE CO (NIG) PLC. NEM NIGER INSURANCE CO. PLC. NIGERINS PRESTIGE ASSURANCE CO. PLC. PRESTIGE SOVEREIGN TRUST INSURANCE PLC SOVRENINS Daily Summary STANDARD ALLIANCE INSURANCE PLC. STDINSURE UNIC INSURANCE PLC. UNIC UNIVERSAL INSURANCE COMPANY PLC UNIVINSURE Activity Summary on Board EQTY WAPIC INSURANCE PLC WAPIC

FINANCIAL SERVICES Totals

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

No. of Deals 4 10 19 10 14 57

Current Price 1.95 3.33 54.00 1.71 1.11

Quantity Traded 74,500 95,417 1,226,438 252,273 397,345 2,045,973

Value Traded 143,452.40 323,551.10 66,218,971.23 430,886.83 448,584.30 67,565,445.86

2,645,973

67,865,445.86

58 Symbol COURTVILLE

No. of Deals 16 16

Current Price 0.57

Quantity Traded 4,403,634 4,403,634

Value Traded 2,507,611.38 2,507,611.38

Symbol CWG

No. of Deals 1

Current Price 4.80

Quantity Traded 10

Value Traded 45.60

Symbol NCR

No. of Deals 2 3

Current Price 12.83

Quantity Traded 694 704

Value Traded 8,904.02 8,949.62

Symbol CHAMS

No. of Deals 5 5

Current Price 0.50

Quantity Traded Page 1,000,000 1,000,000

7 500,000.00 of 12

Daily Summary (Equities)

2,061

Page

Value Traded 2,021,024.37 2,579,050.00 2,291,301.00 354,137,261.08 1,465,764,282.41

Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals 4

Daily Summary as of 24/10/2014 of 12 Hotels/Lodging Printed 24/10/2014 15:00:05.005

IKEJA HOTEL PLC Hotels/Lodging Totals Media/Entertainment DAAR COMMUNICATIONS PLC

Activity Summary on Board EQTY

500,000.00

5,404,338

3,016,561.00

No. of Deals 40 8 54 10 44 1 1 129 287

Current Price 32.25 8.08 41.00 14.49 215.00 1.05 5.01 115.93

Quantity Traded 1,671,056 16,226 458,360 73,217 672,671 2,000 5,000 1,444,136 4,342,666

Value Traded 53,962,895.39 129,208.00 18,769,105.21 1,048,157.44 143,416,087.12 2,000.00 25,100.00 169,580,376.46 386,932,929.62

Symbol

No. of Deals 4 4

Current Price 1.75

Quantity Traded 250,200 250,200

Value Traded 437,850.00 437,850.00

Symbol AVONCROWN BETAGLAS

No. of Deals 2 7 9

Current Price 1.59 20.00

Quantity Traded 15,341 135,155 150,496

Value Traded 23,318.32 2,705,250.00 2,728,568.32

4,743,362

390,099,347.94

Quantity Traded 950,000 950,000

Value Traded 475,000.00 475,000.00

950,000

475,000.00

Daily Summary (Equities) CUTIX

Page

300 Symbol MULTIVERSE

No. of Deals 1 1

Current Price 0.50

Symbol JAPAULOIL

No. of Deals 38 38

Current Price 0.50

Quantity Traded 2,599,332 2,599,332

Value Traded 1,299,724.30 1,299,724.30

Symbol OANDO

No. of Deals 191 191

Current Price 23.56

Quantity Traded 1,781,446 1,781,446

Value Traded 42,091,371.69 42,091,371.69

Symbol No. of Deals Daily Summary (Equities)

Current Price 49.23 3.80 219.00

Quantity Traded 112,677 84,115 111,017

Value Traded 5,298,753.88 314,463.67 24,319,545.03

CONOIL ETERNA FO

27 14 64

Page

Symbol MOBIL MRS TOTAL

No. of Deals Current Price 19 169.25 1 56.00 15 173.00 140

Quantity Traded 15,748 100 33,978 357,635

Symbol SEPLAT

No. of Deals Current Price 5 574.00 5

Quantity Traded 1,537 1,537

Value Traded 863,677.00 863,677.00

4,739,950

82,746,832.36

374

Value Traded 2,680,568.04 5,320.00 5,873,408.75 38,492,059.37

Symbol RTBRISCOE

No. of Deals Current Price 6 0.84 6

Quantity Traded 317,660 317,660

Value Traded 266,834.40 266,834.40

Symbol REDSTAREX

No. of Deals Current Price 8 4.15 8

Quantity Traded 97,500 97,500

Value Traded 401,965.00 401,965.00

Symbol IKEJAHOTEL

No. of Deals Current Price 42 3.12 42

Quantity Traded 3,191,600 3,191,600

Value Traded 9,943,078.00 9,943,078.00

Daily Summary (Equities) Symbol No. of Deals Current Price DAARCOMM 29 0.50

Quantity Traded 650,000

Value Traded 325,000.00

Page

Media/Entertainment Media/Entertainment Totals

Symbol

No. of Deals 29

Current Price

Quantity Traded 650,000

Value Traded 325,000.00

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

Symbol LEARNAFRCA UPL

No. of Deals 7 10 17

Current Price 1.45 4.14

Quantity Traded 115,855 53,899 169,754

Value Traded 161,627.11 206,466.20 368,093.31

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 7 7

Current Price 0.69

Quantity Traded 83,723 83,723

Value Traded 56,497.18 56,497.18

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

No. of Deals 7 15 22

Current Price 1.83 5.01

Quantity Traded 820,000 265,724 1,085,724

Value Traded 1,500,600.00 1,337,304.50 2,837,904.50

Symbol CAVERTON

No. of Deals 9 9

Current Price 4.21

Quantity Traded 47,101 47,101

Value Traded 197,824.20 197,824.20

140

5,643,062

14,397,196.59

4,040 4,040

208,635,995 208,635,995

3,838,276,054.48 3,838,276,054.48

Support and Logistics Daily SummaryCAVERTON as of 24/10/2014 OFFSHORE SUPPORT GRP PLC Printed 24/10/2014 15:00:05.005 Support and Logistics Totals SERVICES Totals

EQTY BoardTotals Totals Equity Activity

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

Value Traded

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM DNMEYER PORTPAINT WAPCO

OIL AND GAS Totals No. of Deals 52 12 33 213 1,295

FINANCIAL SERVICES Insurance Carriers, and Published by The Nigerian StockBrokers Exchange © Services Insurance Carriers, Brokers and Services Totals

Value Traded 300,000.00 300,000.00

NATURAL RESOURCES Totals

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

Quantity Traded 600,000 600,000

INDUSTRIAL GOODS Totals

12,248,836 Current Price 8.60 6.30 18.26 1.95 27.30 2.75 2.23 5.66

Current Price 0.50

FINANCIAL SERVICES Banking Symbol ACCESS BANK PLC. ACCESS DIAMOND BANK PLC DIAMONDBNK Daily Summary as of 24/10/2014 ECOBANK TRANSNATIONAL INCORPORATED ETI Printed 24/10/2014 15:00:05.005 FIDELITY BANK PLC FIDELITYBK GUARANTY TRUST BANK PLC. GUARANTY SKYE BANK PLC SKYEBANK STERLING BANK PLC. STERLNBANK Daily Summary (Equities) UNITED BANK FOR AFRICA PLC UBA

No. of Deals 1 1

ICT Totals

Quantity Traded Page 79,018

Daily

COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals

Processing Systems

Current Price 162.86

Symbol VITAFOAM

Symbol UNIONDAC

HEALTHCARE Totals Daily Summary as of 24/10/2014 ICT Printed 24/10/2014 15:00:05.005 Computer Based Systems

Processing Systems Totals

No. of Deals 25 25

Household Durables VITAFOAM NIG PLC. Household Durables Totals

Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

Symbol 7UP

79,018

HEALTHCARE Healthcare Providers UNION DIAGNOSTIC & CLINICAL SERVICES PLC Healthcare Providers Totals

Daily Summary (ETP) Symbol NEWGOLD VETGRIF30

Page No. of Deals 3 4 7

Current Price 1,964.00 17.63

Quantity Traded 62 595,010 595,072

Value Traded 122,648.00 10,420,598.05 10,543,246.05

ETF Board Totals

595,072

10,543,246.05

ETP Activity Totals

595,072

10,543,246.05

News

monday, OCTOBER 27, 2014 NEW TELEGRAPH

south — east

Enugu PDP gladiators dig trenches as chairman resigns Uwakwe Abugu Enugu

he resignation of the Enugu State Chairman of the Peoples Democratic Party (PDP), Chief Vita Abba, has raised the level of political activities in the state as the State Executive Committee (SEC) of the party also endorsed Hon. Ifeanyi Ugwuanyi, as the governorship candidate of the party for the 2015 elections. The party’s SEC moved further at the weekend to enhance Ugwuanyi’s chances by endorsing him while also accepting Abba’s resignation as he was said to have concluded plans to contest the House of Representatives’ elec-

tion for the Nsukka/IgboEze South federal constituency. These actions, at the weekend, we gathered, are part of the strategies of the party to forestall alleged “sinister moves by those few elements in the party, who have been fighting the governor and the overwhelming majority of the stakeholders, who unanimously endorsed Hon. Ugwuanyi.” Yesterday, the party

moved to consolidate the decision of its SEC to replace Abba with Chief Ikeje Asogwa, who has been the managing director of the State Housing Corporation for some years now, by alluding to the constitutional provision in the party’s constitution that backed the decision to appoint the new party chairman. For instance, sources at the party’s secretariat and the Government House yesterday pointed out that

The life expectancy of men at birth of Algeria in 2010-2015. Source: Un.org

Article 47 (6) of the PDP constitution states that “where a vacancy occurs in any of the offices of the party, the executive committee at the appropriate level shall appoint another person from the area or zone, where the officer originated from pending the conduct of election to fill the vacancy.” Both PDP and the Government House sources also justified the choice of Asogwa as Abba’s replace-

1.91m

The number of refugees in Afghanistan at the beginning of 2010. Source: Blatantworld.com

ment, and one of them said: “Abba resigned to contest the House of Representatives election and that paved the way for the SEC to appoint Ikeje Asogwa, who is from the same federal constituency with the former chairman to plot the party’s affairs till a substantive chairman is elected.” Happening simultaneously with the meeting of the PDP Enugu SEC on Saturday, was a gathering

4.5%

The percentage of individuals using the internet in Rwanda in 2008. Source: Itu.int

at the Enugu residence of Senator Ayogu Eze, who has been protesting against the emergence of a consensus candidate and who used the opportunity of the visit of some of his supporter to tell newsmen that he would fight on and take part in the coming party primaries, saying he still enjoyed the best of relationship with Governor Sulivan Chime, who fully backed Ugwuanyi’s emergence.

The number of disputes that involved violence has occurred in the last fifty years. Source: Unesco.org

Chime’s kinsmen endorse Ekweremadu

insmen of Governor Sullivan Chime in Udi Local Government of Enugu State, at the weekend, trooped out to receive the Deputy Senate President, Chief Ike Ekweremadu, who they endorsed to continue his services to the people of Enugu West senatorial district come 2015. Ekweremadu, who was accompanied to Udi, Chime’s hometown by Peoples Democratic Party (PDP) stakeholders and supporters, on a condolence visit over the demise of their illustrious sons, Obiora Onyia and Emma Onyia, was overwhelmed by the massive turn out of the natives. Several dancing troupes performed as they sang solidarity songs for Ekweremadu, who was applauded for the numerous development projects he had executed in Udi area also known as Umuneke clan, as they assured him of their support to enable him continue his good works at the Senate. A member of House of Representatives in the Second Republic and a native of Udi, Chief Mike Ugwu, said Ekweremadu has the capacity remain a senator, unlike Chime, who is angling to take the Enugu West senatorial seat from him. He said: “I am a stakeholder of PDP in Enugu West and therefore I know everything about PDP. What I’m saying is that Ekweremadu has the capacity of being a senator. Sullivan Chime hasn’t got the attribute, what it takes to be a senator. I was a member of National Assembly.”

Former Anambra State Governor, Mr. Peter Obi (left) and Archbishop Christian Efobi, at the one year memorial service of Mother Lucy Okoli-Ogudebe, Hon. Uche Ekwunife’s mother, at St. Barnabas Anglican Church, Igboukwu…yesterday

Ihenacho: Policy inconsistencies have killed Imo industries Steve Uzoechi OWERRI

ormer Minister of Interior and governorship aspirant on the platform of the All Progressives Grand Alliance (APGA) in Imo State, Captain Emmanuel Ihenacho, has lamented the grounding of over 35 industries established by former Governor Sam Mbakwe, in less than three decades after his administration. He said policy inconsistencies by various administrations killed the industries. Ihenacho, who blamed the mismanagement of the industries on the failure of successive administrations after Mbakwe to implement a purpose-driven and result-oriented work plan, made the assertion while unveiling an action plan geared towards capacity development and massive job creation if elected the next governor of the state. “It is regrettable that

past and present administrations have failed the youths on many fronts. The foundation laid by the late Sam Mbakwe, for the speedy industrialisation of the state as well as massive job creation for our youths were rubbished by successive governments. “If not so, how do we explain that about 35 industries established by the late Sam Mbakwe are all moribund as we speak?,” Ihenacho queried. Addressing the 27 local government APGA youth leaders led by Comrade Ikechukwu Chukwunyere and Emeka Nwankwo, national and Imo state youth leaders of the party respectively, Ihenacho decried the increasing level of joblessness among them, attributing such development to the inability of successive governments to implement sound economic policies and programmes with the potency of revamping the economy.

Amadi picks guber nomination form rescue

Rescue has become a familiar word, yet the rescue mission is not working Philip Nyam Abuja

resident of the PanAfrican Parliament (PAP), Hon. Bethel Amadi, has purchased the Peoples Democratic Party (PDP) nomination

form to contest the 2015 gubernatorial election in Imo State. Amadi, who bought the form at the weekend, promised to liberate the people from what he called ‘maladministration and insincerity of the incumbent government.’ Speaking to New Telegraph shortly after obtaining his nomination form, the Chairman of the House of Representatives Committee on National Planning, said his intention to contest the election was informed

by the desire to render selfless service and good governance. Amadi said he was sad with the stunted development of the state, especially the deception of the All Progressives Congress (APC) government of Governor Rochas Okorocha. “I can tell you that Imo is presently on life support and deserves to be rescued by a man like me with the required experience and integrity to restore the dignity of the Imo man and woman.”

Adim promises to re-name Douglas House Peter Osondu ABA

n Imo State governorship aspirant on the platform of the Peoples Democratic Party (PDP), Ambassador Obi Adim, has promised to change the name of the Government House from Douglas House to Peoples House as

a policy step to end what he described as the slavish rule prevailing in the state. Adim, who gave the hint while addressing a crowd of party supporters in his country home, was of the view that Douglas was a colonial slave merchant and the continued use of his name in the state house

has brought slavish mentality with which the government holds down the state. The governorship aspirant, who was the special adviser to President Goodluck Jonathan on Youth Affairs, said he had set up a formidable platform to empower youths in the state, nay Nigeria if he becomes governor.

NEW TELEGRAPH monday, OCTOBER 27, 2014

landslide

Opposition parties go to bed as new LG bosses emerge Dominic Adewole ASABA

he Peoples Democratic Party (PDP), swept the polls in last Saturday’s Local Government elections winning in 23, out of the total 25 council areas. The party triumphed against all oppositions

News 47

south — south

PDP sweeps Delta council polls l Clark’s son, Tompolo’s brother win parties which include the All Progressives Congress (APC), the Labour Party (LP), the All Progressives Grand Alliance (APGA) and the Peoples Democratic Movement (PDM). Announcing the election results, at the Delta State Independent Electoral Commission (DSIEC) headquarters in Asaba, yesterday, Chairman of the commission, Mr. Moses Ogbe, who led returning officers

from the 23 council areas, noted that the commission ensured a successful polls despite the anti-democratic postures by some politicians who were bent on creating trouble. According to him, some unscrupulous politicians who attempted to disrupt the smooth conduct of the elections in Ethiope East and few others peaces, failed. He said, “We have reports from few areas

where some politicians attempted to disrupt the exercise. It is unfortunate that we have not learnt our lessons from past election. We envisaged that this election will serve as litmus test for 2015 general election in the state but it is regrettable that few unscrupulous elements complicated the matter.” The results declared by the commission, revealed that the ruling party won 23 council

areas, which include the two council areas – Ethiope West and Patani local government areas, where opposition fielded no candidates. He however disclosed that elections were inconclusive in Ethiope East. Ogbe also announced the ruling party returned unopposed in 96 wards, out of the 466 wards across the state. He listed the council areas where PDP won to include, Warri South,

L-R: Speaker, Bayelsa State House of Assembly, Rt. Hon. Konbowei Benson; Deputy Governor, Rear Admiral Gboribiogha John Jonah (rtd); wife of the Governor of Bayelsa State, Dr. Rachael Dickson, mother of President Goodluck Jonathan, Madam Eunice Jonathan; Governor Seriake Dickson; Bishop, Diocese of Ogbia, Rt. Rev. James Oruwori (JP); Chief Asara Asara and Chief Iboro Edaba, cutting the anniversary cake in commemoration of the centenary celebration, (1911-2014) of St. Matthews Anglican Church Akipelai, in Ogbia Local Government…at the weekend

2015: Dickson warns against political instability Akwa-Ibom guber race: Esuene Chris Ejim Yenagoa

s political activities toward the 2015 general elections gather momentum across the country, Governor Seriake Dickson at the weekend urged politicians to be cautious in the pursuing their ambitions, to avoid plunging the country into political instability which is also capable of stagnating her economic growth. He gave the advice at the swearing-in ceremony of the new Special Adviser to the Governor on Political Matters, Chief Fyneman Wilson at Gov-

ernment House, Yenagoa. Dickson said, “One cannot fathom the cost of political instability, as some sacred institutions have now been violated and desecrated. Some institutions have closed down; some cannot function, brothers can’t talk to brothers, friends have turned against friends. This is one thing we have avoided in the restoration of government. “So in this government, not only are we building roads, bridges, hospitals and schools; not only have we ensured safety and security of our people, but we have also unfolded a comprehensive pro-

gramme of reconciliation and consensus building such that, all our people no matter the differences, are together and we want to keep it so.” Charging the new Special Adviser to facilitate the process of consensus building towards promoting peace and stability in the state, Governor Dickson said Wilson’s antecedents as a former Rivers State, House of Assembly member, Commissioner and Director General in the Green Movement, he should be able to bring his experience to bear on his new assignment to achieve success for the party and the state.

Obuh has the capacity to govern, says Emami Gabriel Choba

UGHELLI

s the governorship primary of the Peoples’ Democratic Party (PDP) draws near, the convener of Delta United for Tony Obuh, Chief Ayiri Emami

has stated that his group would not be deterred by activities of detractors, saying that Obuh has the capacity to govern and build on the achievements of Governor Emmanuel Uduaghan. The convener of the group, Chief Ayiri Emami, who spoke during a meet-

ing of the group at OgbeIjoh, Warri South-West Local Government Area of the State, said the group had been on ground for over three months, noting that the group was out to deliver Obuh for governor and Dr. Goodluck Jonathan for President in 2015.

gets group’s endorsement Chukwu David ABUJA

enator Helen Esuene, representing AkwaIbom South Senatorial District and a governorship aspirant on platform of the Peoples Democratic Party (PDP), in the state, at the weekend in Abuja expressed her intention to continue with her ambition in the governorship contest despite what she described as series of moves to frustrate her ambition. She had recently accused highly influencial politicians including the governor’s aides of being behind an attack on her by some suspected political thugs. Esuene stated this as the Ibom Consolidated Assembly, ICA, a frontline Socio- Political Organization for all Akwa Ibomites endorsed her as the candidate of their choice in the 2015 governorship election in the state.

Speaking on the development, Hon. Otib Etiebet, National Co-ordinator of ICA, at the inauguration of the Abuja chapter of the Assembly at the weekend, explained that the group decided to endorse Senator Esuene as a result of consultations in 19 out of the 31 local government councils in the state in the last two months, which convinced the group that the female contestant was the most qualified of all the aspirants. His words: “after the zoning of the governorship slot of the state to Eket Senatorial District, where Senator Helen Esuene hails from and presently represents in the Senate, ICA as a concerned Socio- political group went into action for critical assessment of the entire 28 aspirants as regards their requisite experience in public service, competence and acceptability and found Esuene as most qualified with her political pedigree.”

Sapele, Oshimili North, Oshimili South, Ika South, Ika North-East, Ukwuani, Ndokwa West, Warri North, Okpe, Udu, Ughelli North, Warri South-West, Bomadi, Ughelli South, Burutu, Patani, Ethiope West, Uvwie, Aniocha South, Isoko North and South, and Aniocha North. The election in Ndowka East was annulled following the crisis of nonconduct of the exercise in the locality. The commission Chairman disclosed that crisis was recorded in Burutu, where the son of the First Republican Minister of Information and foremost Ijaw leader, Chief Edwin Clark, Ebikeme Clerk, emerged as the winner, as the Returning Officer of the council was forced to escape to the Government House (Annex), Warri, before results were collated. Besides Ebikeke Clark, other winners of the election include, Chief Isaac Anwuzia (Aniocha South), Hon. Ejaife Odebala (Sapele), Mr. Mofe Matthew Edema (Warri South), Mr. Chuks Oseme (Aniocha North), Mr. Ofume Fred (Ika South), Francis Eboka (Ika North East), Mr. Malik Ikpopo (Isoko South) and Mrs. Benedicta Ndudi (Ukwuani).

Cleric to Jonathan: Give us roads, bridges in Niger Delta Joe Obende WARRI

resident Goodluck Jonathan has been urged to ensure the construction of at least seven major roads and bridges in Delta, Rivers and Bayelsa States, as a way to get the deserved support from the people of Niger Delta region in his reelection bid. General Overseer of God’s Ministry International in Salvation City, New Ogbe-Ijoh, Warri South-West Local Government Area of Delta State, Evangelist Samson Mamamu, who stated this at the close of the church’s five-day 38th annual spiritual convention yesterday, also called on political office seekers including President Jonathan, to ignore those he described as “false men and women of God” for their false prophecies as political activities for next year’s general elections gather momentum.

News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

NORTH

Crack in Jigawa PDP over Lamido’s choice of successor Muhammad Kabir Dutse

he issue of who succeeds Jigawa State Governor, Sule Lamido, on the platform of the Peoples Democratic Party (PDP) has led to a crack in the party. Reports in the state said stakeholders in the party have even threatened a showdown with Governor Lamido over his anointed candidate for the position, his Chief of Staff, Alhaji Aminu Ringim. New Telegraph gathered that many commissioners in the state and some members of the state and national assemblies are concerned over what they called undemocratic tendencies on the part of the governor. Even the Deputy Governor, Ahmad Gumel, who was said to be eyeing the position and has been working towards succeeding his boss, was

Progressives back Adamawa governor Ibrahim Abdul Yola

group, Adamawa Progressive People Movement, yesterday said it has collected enough contributions from the public to enable it purchase the 2015 governorship nomination form for Governor Bala Ngilari. Convener of the group, Mr. Sunday Wugira, said the group in collaboration with other interest groups, including Christian and Muslim leagues, who wanted Ngilari to contest, had gone round the 21 local governments to raise money for that purpose. “We have generated enough for the form and by the grace of God, we will go to Abuja and obtain the form for Governor Ngilari,” Wugira said. “This man must contest, the people of Adamawa have spoke,” Wugira said. Also speaking, representative of past PDP state executive, Mr. Phineas Elisha, said most of the members, including those that defected to the APC have declared that they would work for PDP if Ngilari indicated interest in the governorship seat. “Ngilari is man of the people and the only one that can unite and bring stability to Adamawa at this critical moment,” Elisha said.

said to have been enraged by the action of Lamido. Reports also said that the development has led to a frosty relationship between him and the governor as he was said to have kept mum at every meeting involving the governor since then. Another of Governor Lamido’s commissioners,

who has been working to succeeding him, is his Commissioner for Works, Baba Aliyu Santali. Reports have it that Santali has done his best in making the governor proud of him by diligently overseeing his road project, which today is one of the best legacies of the Lamido

administration; all in an effort to secure his trust ahead of the 2015 governorship election. Other politicians like the former Minister of Power and Steel, Alhaji Bashir Dalhatu, who, speculations also have it to be another of Lamido’s favoured sons, was said to be disappointed at the

turn out of events regarding the action of Lamido on who succeeds him. Already, there were rumours of moves by some party members to defect to other parties to ensure that the governor and the party pay for this. However, reports said that the deputy governor has decided to remain in

the PDP, but may work against the interest of the eventual candidate. Sources also said people like Bashir Dalhatu, are hell-bent in ensuring that they truncate whatever decision that will be taken without them even as the party in the state seems to be in disarray now.

Emir of Ilorin, Alhaji Ibrahim Sulu Gambari (middle), receiving Mr. Jani Ibrahim, in his palace before Jani’s declaration of intention to contest the PDP 2015 governorship election in Ilorin...Kwara State …yesterday.

Crisis brews in Benue over 14, 000 ghost workers Cephas Iorhemen Makurdi

he discovery of 14,000 ghost workers on the payroll of the 23 local government areas in Benue State is brewing mistrust between the Bureau of Local Government and Chieftaincy Affairs and the Local

Government Service Commission with the latter accusing the former of gross fiscal irresponsibility. Following this discovery, the local government service commission is insisting that the allegations must be probed to ascertain the truth, especially now that the present administration has

Learn from Fintiri, Adamawa workers advise Ngilari Ibrahim Abdul Yola

damawa State chapter of the Nigeria Labour Congress (NLC) has urged Governor Bala James Ngilari, to emulate erstwhile Acting Governor, Alhaji Ahmadu Umaru Fintiri, in ensuring a smooth relationship between government and workers. NLC chairman in the state, Comrade Dauda Maina, made the call in Yola at a workshop on corruption organised by the Association of Senior Civil Servants of Nigeria (ASCSN). Maina said Fintiri in his 86 days as acting governor, carried the workers along and recognised

their value as the engineroom of the government. “Fintiri was able to make impact by carrying the workers along during his tenure; we hope Governor Ngilari will emulate him to avoid crisis,” Maina said. He said the theme of the workshop; “Towards a corrupt free civil service,” was timely, adding that corruption was not only collecting money illegally to do something, but also not coming to work and not doing one’s job properly. He lamented what he described as gossips and blackmail that characterised the civil service, urging those involved to change for the better for the civil service to be taken more seriously by politicians.

less than seven months to leave office. New Telegraph gathered that the Bureau of Local Government and Chieftaincy Affairs that oversees the affairs of the 23 local governments recently embarked on biometric registration in order to automate payment of workers, but shocking-

ly discovered that 14,000 thousand staff did not show up for the process. New Telegraph gathered that most of the alleged ghost workers were fictitious names entered on the payroll by some powerful politicians and other stakeholders at the various local governments to increase their monthly earnings.

Our correspondent gathered that worried by the incident, Chairman of the Local Government Service Commission, Richard Gbande, called a meeting of stakeholders of the 23 local government areas, insisting on verification to ascertain the authenticity of the alleged 14,000 ghost workers.

Biem picks governorship nomination form

ormer Permanent Secretary, Bureau of Internal Affairs and Special Services, Mr. Hingah Biem, has picked the expression of interest and nomination forms to contest the Benue State governorship election in 2015 on the platform of the Peoples Democratic Party (PDP). Biem, a former Director General, Information and Culture, under later

Governor Moses Adasu, was among the four governorship aspirants endorsed by the MINDA Tiv Traditional Councils. Those screened and selected by the monarchs were Hingah Biem (Gwer), Samuel Ortom (Guma), Terhemen Tarzoor (Makurdi) and Felix Atume (Gwer West) Local Government, the political bloc warming up

to govern the state. Addressing journalists and thousands of his supporters shortly after purchasing the nomination form at the PDP National Secretariat in Abuja, Biem said his quest to govern the state was in response to calls by people from various segments of the state to sustain the transformation drive of the current administration.

Insurgency hampers agric transformation in Borno Ahmed Miringa Maiduguri

hairman, Agricultural transformation Team in Borno State, Ibrahim Ali, yesterday said that the insurgency has tremendously affected the agricultural transformation and the general eco-

nomic growth of the state. Speaking to our correspondent in Maiduguri, the Borno State capital, Ali said the state government had planned to completely transform the agricultural sector, but that the insurgency is taking its toll on the sector. “We have procured

enough agricultural equipment, but we cannot deploy both the equipment and the workers because of the insurgency, as agricultural is rural-based, hence the disruption of our laudable programme. I cannot even visit my farm in Daboa for three years now,” he lamented.

NEW TELEGRAPH monday, OCTOBER 27, 2014

News 49

national

N2m expired drugs handed over to NAFDAC Sola Adeyemo Ibadan

L-R: Former Technical Officer, Chrome Oil & Gas, Adebanji Babarinde; his wife, Mrs Babarinde; Admin Manager, Chrome Group, Mr. Inno Anoliefo and Chief Operating Officer, Chrome Oil & Gas, Mr. Ikechukwu Okpala, at the send-forth for Engr. Adebanji Babarinde, in Abuja…at the weekend

Fayose disowns fake Facebook accounts

Lagos 2015: Ikuforiji to stop medical tourism if elected

Adesina Wahab

Temitope Ogunbanke and Muritala Ayinla

Ado-Ekiti

kiti State Governor, Mr. Ayo Fayose, has alerted members of the public on activities of some fraudsters operating fake facebook accounts in his name, and using the fake accounts to dupe unsuspecting people. Special Assistant on Public Communications and New Media, Mr. Lere Olayinka, in a statement issued yesterday in AdoEkiti, warned members of the public against falling victims of the fraudsters operating such fake facebook accounts. Olayinka, who said he was compelled to once again alert the public on activities of the fraudsters, said money was being demanded from people by the fake facebook operators in exchange for government contracts.

Ihedioha: Stop vilifying politicians Tony Okafor Awka

he Deputy Speaker of the House of Representatives, Hon. Emeka Ihedioha, yesterday implored the church to stop vilifying politicians, saying the impression being created about the political class by some clerics is that they (politicians) are “criminals”. Ihedioha spoke yesterday at St Barnabas Anglican Church, Igboukwu, Anambra State, during the one year memorial service of Mrs. Lucy Okoli-Ogudebe(the mother of Uche Ekwunife, House of Representives member for Anaocha/Njikoka/Dunokofia)

he Speaker of the Lagos State House of Assembly, Rt Hon Adeyemi Ikuforiji, yesterday formally declared his ambition to run for the governorship race in the state, saying he would put an end to medical check up abroad among government officials, if elected. Speaking during his official declaration for Lagos State governorship at Blue roof Event

Centre in Ikeja, Lagos, Ikuforiji said he was in the race to make a difference, adding that he has what it takes to take Lagos State to the next level. The Speaker also promised that if elected as Governor Babatunde Fashola’s successor, he would upgrade all medical facilities in the state to international standards, such that all the government officials, including him, would be mandated to undergo medical check up in the state owned facilities instead of going abroad.

Alaafin seeks political debates among contestants Sola Adeyemo Ibadan

he Alaafin of Oyo, Oba Lamiidi Olayiwola Adeyemi, has advised political parties to organise debates for their aspirants and candidates to ensure pragmatic governance. He gave the advice at the weekend in his palace while addressing thousands of residents, including members of the Oyo traditional council, the kingmakers (Oyomesi), leaders of the

All Progressives Congress (APC) in the four local government councils, traders, artisans, professionals and students across Oyo federal constituency. The monarch said organising such debates “will prevent most aspirants, who have no clear-cut and result-oriented programme of actions for the people, but only with the ulterior intention of looting the treasury and amassing illgotten wealth to the detriment of the teeming impoverished populace.”

Aspirant promises jobs in Kwara Biodun Oyeleye Ilorin

enowned industrialist and gubernatorial aspirant on the platform of the Peoples Democratic Party (PDP), Alhaji Jani Ibrahim, yesterday presented a four-point agenda to pursue if elected as Kwara State governor in the 2015 elections. Ibrahim, an engineer and Chairman of LUBCON, an indigenous petrochemical manufactur-

ing outfit with presence in five countries, said he would focus on job creation, agricultural revolution, natural resources development and infrastructure development. The PDP aspirant made the pledge at the formal declaration of his intention at the open field of Lower Niger River Development Authority, Ilorin. He described his aspiration as influenced by a divine prompting with the active support of several stakeholders.

“In fact, within the first 18 months of my administration, our hospital will be upgraded to world class standard; government officials including myself will be mandated to undergo their medical check up in our facilities instead of going abroad. Our school will be restored to their former glory; government officials will be able to send their children to public schools. I will not rest until the Lagos State University becomes one of the top 500 universities in the world,” he said. Ikuforiji also prom-

ised that his 10-pointcardinal programme will include job creation and poverty alleviation, a knowledge-based economy and entrepreneurship, transportation, security, housing, education, health care, tourism, sports and environment. He also said that his core vision is to consolidate and enlarge the enviable legacy of good governance, sterling leadership and unmatched excellence for which Lagos State has come to be known.

PUBLIC NOTICE

EDENGATE HERITAGE FOUNDATION The general public is hereby notified that the above named FOUNDATION has applied to the Corporate Affairs Commission for registration under part ‘C’ of the Companies and Allied Matters Act, 2004. The Trustees are: 1. Pst. Gabriel John Abah 2. Pst. Friday Daniel Itodo 3. Sis. Rosemary Gabriel Abah AIMS AND OBJECTIVES: 1. To provide, promote, establish education, health, sport and social welfare services to the people and community. 2. Giving general assistance to the people in disaster throughout global community 3. Collaborating with the global community projects of poverty alleviation. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

Signed: A&A REHOBOTH LIMITED

10, Ariyibi Oke Street, Off Agege Motor Road,Near WEMA Bank, Bolade,Oshodi, Lagos. Telephone: 08122222162, 07066933337

PUBLIC NOTICE EVER READY CHAPLAIN & HUMANITARIAN MISSION The general public is hereby notified that the above named MISSION has applied to the Corporate Affairs Commission for registration under part ‘C’ of the Companies and Allied Matters Act, 2004. The Trustees are: 1. Chaplain Akanni Isreal Abimbola - President 2. Chaplain Adebayo Elijah Jolajesu - Secretary 3. Chaplain Adesola Michael 4. Chaplain Akanni Janet 5. Chaplain Adebayo Beborah AIMS AND OBJECTIVES: 1. 1 Assisting the less privilege ones like widows, orphans, vulnerable children e.t.c 2. To preach unity, peace and love in a caring and compassionate member 3. To take the word of God to secluded places so as to transform them by leading them to the right of God, such places shall include prisons, hospitals, cells, schools. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

Signed: TRUSTEES

n appreciation of the efforts of the National Agency for Food and Drug Administration and Control (NAFDAC) to rid the nation of avoidable deaths through expired and fake drugs, the Ibadan chapter of the Association of Community Pharmacists of Nigeria (ACPN) has handed over large quantities of expired drugs worth over two million naira to the agency. The drugs estimated at N2.2 million and classified as Prescription Only Medicines (POMs) and Over The Counter Medicines (OTCs) had been retrieved from various shelves across the state.

Osun declares today public holiday

sun State government yesterday declared today a public holiday in commemoration of the beginning of the Islamic calendar (Year HIJRAH 1436.) Commissioner for Information and Strategy, Mr. Sunday Akere, announced this in a statement in Osogbo, at the weekend. Akere said the public holiday is to allow Muslim faithful fully observe the celebration of the beginning of the new Islamic calendar year.

APC party of propaganda - Ahamba Emmanuel Onani

Abuja

lawyer and Peoples Democratic Party (PDP’s) governorship aspirant in Imo State, Sir Mike Ahamba (SAN), has described the All Progressives Congress (APC), as a party that thrives on deception and propaganda. Ahamba, who picked his nomination form for the PDP’s ticket last week at the party’s national headquarters in Abuja, also argued that contrary to views in some quarters, President Goodluck Jonathan is eligible to contest next year’s presidential election. He stated these in an interview with New Telegraph in Abuja, over the weekend. According to Ahamba, the APC allegedly deceives the unwary public, by getting them to believe what may not exist. He further accused the party of “confusing” Nigerians and also allegedly playing politics with serious issues of national importance.

50 WORLD | News

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

Britain ends combat role in Afghanistan •Marines hand over base

ritish troops ended their combat operations in Afghanistan yesterday as they and U.S. Marines handed over two huge adjacent bases to the Afghan military, 13 years after a US-led invasion launched the long and costly war against the Taliban. Their coming departure leaves Afghanistan and its newly installed president, Ashraf Ghani, to deal almost unaided with an emboldened Taliban insurgency after the last foreign combat troops withdraw by year-end. At the U.S. Camp Leatherneck and Britain’s Camp Bastion, which lie next to each other in the southwestern province of Helmand, troops lowered the American and British flags for the final time yesterday and folded them

away. The timing of their withdrawal has not been announced for security reasons. Camp Leatherneck, the largest U.S. base to be handed over to Afghan control, and Camp Bastion together formed the international coalition’s regional headquarters for the southwest of Afghanistan, housing up to 40,000 military personnel and civilian contractors. But yesterday, the base resembled a dust-swept ghost town of concrete blast walls, empty barracks and razor wire. Offices and bulletin boards, which once showed photo tributes to dead American and British soldiers, had been stripped. “It’s eerily empty,” said Lt. Will Davis, of the Queen’s Dragoon Guards in the British Army. Camp Bastion was also where Prince Harry was based in 2012

as an Apache helicopter gunner. In all, 2,210 American soldiers and 453 British soldiers have been killed in Afghanistan since 2001, when the U.S.led coalition toppled the Tali-

ban government for harboring al Qaeda after the militant group carried out the Sept. 11, 2001, attacks on the United States. The coalition has been led by NATO since 2003, and includes forces from Germany,

Italy, Jordan and Turkey. After yesterday’s ceremony, the Afghan National Army’s 215th Corps will be headquartered at the 28 sq km (11 sq mile) base, leaving almost no foreign military presence in Helmand.

Sudan’s Bashir wins party’s backing for vote, set to extend 25-year rule

udan’s ruling party has given final approval to President Omar Hassan al-Bashir as its candidate in next year’s presidential vote, sealing his bid to extend his rule after 25 years in power. Wanted on charges of genocide and war crimes by the International Criminal Court, Bashir has reason to fear his future should he leave office as he would have to entrust his fate to a successor. He can now cast those fears aside. National Congress Party leaders endorsed Bashir by a 94 percent margin at a party conference late Saturday. Senior leaders had already eliminated four rival party candidates in an earlier vote last week. The formal endorsement confirmed what many in Sudan had ex-

pected: Bashir would break his promise to step down and not run for another term in April 2015 polls. Though the 70-year-old Bashir pledged in January to redraw the constitution, bring opposition parties into government, and launch a national dialogue, no visible progress has been made. The few active opposition movements in Sudan are already losing hope of any change in the political climate and some have recently announced their plan to boycott the presidential vote. Dire economic conditions since the secession of the oil-rich southern half of the country in 2011 including inflation that currently hovers around 40 percent, anger struggling citizens.

Iraqi forces seize four villages after victory near Baghdad

raqi government forces retook four villages yesterday near a mountain ridge overlooking Islamic State supply lines, security officials said, in a campaign which has struggled to make advances against the Sunni Islamist insurgents. Iraqi security forces backed by Shi’ite militias gained some momentum Saturday in their bid to loosen the grip of Islamic State, which controls large swathes of territory in the north and west of the country. After months of fighting they drove Islamic State militants out of Jurf al-Sakhar, just south of Baghdad, while Kurdish fighters regained control over the town of Zumar in the north. Sunni insurgents have been moving fighters, weapons and supplies from western Iraq through secret desert tunnels to Jurf al-Sakhar, Iraqi officials have said. Now it appears government forces may be able to disrupt that network. Iraqi se-

curity forces backed by Shi’ite militias launched an assault on Saturday on areas around the Himreen mountains, a hotbed of militant activity 100 km (60 miles) south of the oil city of Kirkuk. Yesterday, they seized control of four villages in the area, security officials said, adding that it was very difficult to accelerate efforts to capture more territory because of roadside bombs and booby-trapped houses. “We have decided to make slow advances. We hold the ground, set up watch towers, clear the explosives and build sand barriers to prevent the armed men from returning,” army major Ahmed Nu’aman told Reuters by telephone. The operation is designed to isolate Islamic State fighters controlling the towns of Jalawla and Saadiya and cut off the areas they seized northeast of the city of Baquba, which is held by Iraqi security forces and Shi’ite militias.

U S Marines march with flags during a handover ceremony, as the last U S Marines unit and British combat troops end their Afgan operations yesterday

Egyptian court jails 23 activists for protesting

n Egyptian court yesterday convicted 23 activists, including prominent rights campaigners, of staging an illegal demonstration and sentenced them each to three years in jail. The Cairo court also fined the defendants, who include eight women, 10,000 pounds (about $1,400) each. The case is rooted in a peaceful demonstration the defendants had allegedly participated in last summer near the presidential palace in Cairo’s Heliopolis suburb. The demonstration was called to protest a law adopted late last year severely restricting the right to stage street protests. The defendants have also faced other charges, like damaging public property and assaulting policemen. The conviction of the 23 is the latest in a government crackdown

against liberal pro-democracy activists, many of whom were iconic figures of the popular uprising that forced longtime ruler Hosni Mubarak to step down in February 2011. The crackdown has also killed hundreds of Islamists and jailed thousands. Among the 23 is Sanaa Seif, who hails from a family of longtime rights campaigners, including her late father Ahmed Seif al-Islam and brother Alaa Abdel-Fattah, who has recently been freed from prison pending his appeal of a 15-year jail sentence for breaking the protests law and assaulting an on-duty police officer. Another defendant is Yara Sallam, a prominent rights lawyer. Yesterday’s verdict, which can be appealed, comes at a time when Egypt is swept by nationalist sentiments following a dramatic surge in attacks blamed on Islamic mili-

tants on troops and security forces in the Sinai Peninsula while witnessing a smear campaign targeting many of the secular pro-democracy campaigners behind the 2011 uprising. Suspected militants killed at least 30 army soldiers in the restive north of Sinai, Friday, the deadliest attack on the Egyptian army in decades. In newspaper articles and television talk shows, media celebrities loyal to President Abdel-Fattah el-Sissi have over the weekend urged the general-turned-politician to step up military actions against the militants and clamp down on dissent. El-Sissi himself on Saturday described the battle against the militants as “existential” imposed a nightto-dawn curfew in the northern part of Sinai and declared a national three-day state of mourning. “Don’t let Sinai be your final goal Mr. President.

Israeli schools skip Jerusalem trip over tension

chools in the Israeli city of Tel Aviv have postponed class trips to Jerusalem this week because of heightened tensions in the city, Tel Aviv officials said yesterday. The move came as Israeli police announced they were beefing up security patrols in Jerusalem with a thousand extra officers and Special Forces. “We will not allow the reality in the city to become such that people lob stones, throw firebombs and disturb public order,” Netanyahu said at the start of his weekly Cabinet meeting. In recent weeks, Palestinian youths have clashed frequently with Israeli police, thrown stones and firebombs

at Israeli motorists and disrupted service of the city’s light rail train a service meant to unify the city. A 14-year old Palestinian-American was also shot dead Friday during clashes with police near the West Bank city of Ramallah. The municipality of Tel Aviv, Israel’s commercial and cultural capital, said it honored a request by parents of 8th grade pupils to postpone a field trip planned for most Tel Aviv schools this week because it included visits to areas where violence recently occurred. Last week a Palestinian motorist with a history of anti-Israel violence slammed his car into a crowded light rail train station, killing a 3-month-old

girl who was a U.S. citizen and wounding eight people. The municipality said pupils were scheduled to visit a nearby site. The postponement of this week’s trip angered Jerusalem city officials. In a statement, the municipality said Jerusalem is “a safe and open city” and canceling trips would “reward those who are disturbing the peace.” In recent months, clashes have erupted at Jerusalem’s most sensitive holy site between Palestinian stone throwers and Israeli police. Similar clashes have erupted elsewhere in east Jerusalem, the section of the holy city captured by Israel in 1967 and claimed by the Palestinians as their capital.

NEW TELEGRAPH MONDAY, OCTOBER 13, 2014

International Football

Sports News

Jonathan hosts victorious Falcons on Wednesday

Late van Persie strike denies Chelsea victory

Sport

Did you know? That Emem Eduok six goals against Nembe City was the highest by a player during a single match in the Nigeria professional Football League

Eucheria: Falcons can win World Cup if…

Ifeanyi Ibeh

ormer handler of Nigeria’s women’s national team, Eucharia Uche, is confident the Super Falcons can go all the way at next year’s FIFA Women’s World Cup in Canada. Uche, who featured at that inaugural tournament 23 years ago, and who went on to coach the Super Falcons at the World Cup, believes the time is ripe for Nigeria to become world champions.

“It’s remarkable the way the girls won the AWC with a blend of youth and experience. There was no other team more deserving of the title and I am so happy they won, but the World Cup is a different kettle of fish though,” she told New Telegraph. “It is much tougher than the AWC as there are so many strong teams to contend with. The Germans will be there, so will the Americans, Brazilians and the two Korean nations. But I have a strong feeling that the time

Blatter

IFA president Sepp Blatter and CAF supremo Issa Hayatou are furious with Nigeria over the unending crisis in its football, the latest of which was the sacking of the Nigeria Football Federation board led by Amaju Pinnick by the Federal High Court sitting in Jos, Plateau State last Thursday. Chris Giwa who has continued to insist on the mandate he claims to have been given at the election of August 26, in Abuja instituted the case to declare the FIFA-sanctioned NFF election of September 30, in Warri which brought Amaju to power null and void. Hayatou who was at the Sam Nujoma Stadium when the Super Falcons reclaimed the African Women Championship title, did not mince words when he said that it was Nigeria, ironically,

lUltimatum ends today l ‘Nigeria always gives us headache’ the biggest federation in CAF that keeps giving the confederation so much headache. He said he had to plead with Blatter

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

Ifeanyi Ibeh l Sports Correspondent

Ajibade Olusesan l Sports Correspondent

still strong enough to play at this level, you would understand why I am very optimistic about our chances,” added Uche. She however charged the Nigeria Football Federation and the Sports Ministry, to lay as much emphasis on the women’s game as they do with the men. “Send them out on playing tours against the big teams, arrange to bring some of these strong teams to play against us here in Nigeria to build the team’s confidence.

Blatter, Hayatou angry with Nigeria l FIFA’s hammer dangles again

The Sport Team

is ripe for us to finally win the World Cup.” Asked why she feels the Super Falcons have a chance at winning the World Cup next year, the former Nigeria striker noted: “We have in the last six years developed a number of remarkable young girls who have progressed from playing at the U17s and U20s to the Super Falcons. “Most of them are now the key players in the Super Falcons. If you now add some of the other experienced players who are

Musa (left)

not to take immediate action, adding that Nigeria agreed to be a member of FIFA and should therefore respect the statutes of the world football governing body and

Asisat (left) and Oparanozie

Hayatou

that if Nigeria were tired of being part of the world football family then so be it. Hayatou’s words: “I had to plead passionately with FIFA President, Mr. Sepp Blatter not to take action on Nigeria on Friday, because Nigeria was in the final of the African Women Championship and a ban on your country would have been bad for the competition and our sponsors. We all heard the news of the court ruling on Thursday, and the football world is angry with Nigeria. That is the truth. “The FIFA letter that came to your Federation before the elections of September 30 was very clear about an automatic suspension should there be any interference with the political process, and after the elections went ahead, we all thought you had settled your issues.” The CAF supremo, at a meeting that had Nigeria’s Sports Minister, Dr. Tammy Danagogo, Nigeria’s High Commissioner to Namibia, Ambassador Biodun Olorunfemi, Nigeria’s Deputy President of the CAF Appeal Board, Amanze Uchegbulam, CAF General Coordinator, Mr. Paul Bassey and CAF Media Committee Member, Aisha Falode in attendance, said there was no going back on suspension of Nigeria this week if football matters are not withdrawn from civil courts. “I appealed to FIFA to give until MonCONTINUED ON PAGE 51

SPORT

MONDAY, OCTOBER 13, 2014 NEW TELEGRAPH

Jonathan hosts victorious Falcons on Wednesday lTeam arrives Lagos today

Emmanuel Tobi

P Nigeria’s Super Falcons celebrating their seventh championship triumph on Saturday

resident Goodluck Jonathan will receive the victorious African women champions, Super Falcons, at the federal executive council meeting on Wednesday, Minister of Sports and chairman of National Sports Commission, Tammy Danagogo, revealed to the team after the final on Saturday. According to the minister, a proposal has been sent to Mr. President to receive

Blatter, Hayatou angry with Nigeria CONTINUED F RO M PAG E 5 1

day for Nigeria to put its act together. After that, there is absolutely nothing I can do. It is all very disappointing because we have over 50 National Associations in Africa, but a big country like Nigeria is the one always giving us the biggest headache. “Nigeria signed to be part of the football world by joining FIFA, and opted to abide by the FIFA –approved Statutes that you have. How many times do we have to tell your country that football matters are not taken to civil courts? If Nigeria no longer wants to be part of the football world, then so be it,” an obviously exasperated Hayatou said. His French words were translated to the rest of the Nigeria delegation by the multilingual Paul Bassey. NFF President, Mr. Amaju Pinnick, who was, inexplicably, stopped by security operatives at the Murtala Muhammed International Airport, Lagos on his way to Namibia on Friday night with the Sports Minister, monitored the meeting on phone. On Thursday, the Federal High Court, Jos gave a ruling setting aside the FIFA

–ordered elections of September 30, into the NFF Executive Committee, stoking the fire of anger at the world body’s Zurich headquarters. The NFF Executive Committee, led by Pinnick, has filed for a Stay-of-Execution of the order at the same court, which the court said it will be hear on Wednesday. The Super Eagles still have a chance of qualifying for the 2015 Africa Cup of Nations to defend their crown, despite a poor start in the race; even with the Golden Eaglets, the reigning champions of the world, ready to compete at the African Championship to be eligible to travel to Chile to defend their world title next year, and with the Super Falcons reclaiming their continental title in Namibia on Saturday, non –conformity to simple football rules and regulations has put Nigeria at the danger of a big slam that affect these competition. As it stands now, Nigeria football looks to be, unfortunately, heading into a long, dark night as world football –governing body is set to wield the big stick on Monday if this latest twist in the endless crisis is not sorted out quickly.

the team at FEC meeting on Wednesday noting that he is quite sure Mr. President will be looking forward to meeting the Falcons on their return as he praised the girls for doing Nigeria proud in Namibia. “I know it is not just going to be a presidential hand shake alone because he likes to appreciate those who do the country proud in any sector of national endeavour. Just get the job done and leave the rest,” the minister stated Meanwhile the Super Fal-

cons were expected to depart Windhoek for Johannesburg by 2pm on Sunday enroute Lagos. They are expected to spend the night in Lagos. The Minister also disclosed during the victory dinner at the Nigerian House Windhoek that on arriving Lagos, the team will be welcomed by the Lagos community. They will then leave for Abuja on Tuesday where they will be hosted by the National Sports Commission before the team meets with Mr. President on Wednesday.

ITTF World Cup: Germans commend Quadri despite exit Charles Ogundiya

igeria’s Aruna Quadri continues to get accolades despite his elimination at the quarterfinal stage of the just concluded International Table Tennis Federation World Cup in Dusseldorf, Germany. The Germans could not hide their joy with the beautiful display by the Nigerian who eliminated world number 16, Hong Kong’s Tang Peng 4-2 before he narrowly lost 4-2 in his quarterfinal tie against the current World and Olympics champion, Jike Zhang of China. Ranked 73 in the world, Quadri

defeated top rated players to get to the last 16 despite not been given a chance at the beginning of the competition. A respected German sports analyst, Bernd-Ulrich Gross, said he was stunned by the display of the Nigerian. “He is a huge player with a lot of skills. While watching the television, I saw this young African with his superb forehand which I can describe as the best I have ever seen in recent time. I had to abandon what I was doing to come and witness it live,” said Gross. “Sincerely I was not disappointed because he gave a good account of himself. If he continues to work hard he will be unbeatable.”

Pinnick hails Falcons,promises early W’Cup preparation

Pinnick

resident of Nigeria Football Federation, Mr. Amaju Pinnick, on Saturday night congratulated the senior Women National Team, Super Falcons, following the team’s triumph over Cameroon that saw them reclaiming the African Women Championship trophy. The Falcons defeated the Lionesses 2-0 in the final at the Sam Nujoma Stadium, Windhoek, with goals from Desire Oparanozie and Asisat Oshoala – unarguably the two best players of the competition. “I am very happy with the performance of the Super Falcons. They have

given this new board of NFF its first trophy in under one month in office, and I am delighted. “They played the Lionesses with lion hearts and there was no doubt which was the better team. They made the country proud and I want to assure that the NFF will do everything possible to prepare the team adequately for next year’s FIFA Women’s World Cup finals in Canada.” Pinnick was scheduled to travel out of the country on Friday night alongside Sports Minister, Dr. Tammy Danagogo to watch the final match in Windhoek. He was however, inexplicably, stopped from traveling by some security operatives at the Murtala Muhammed International Airport, Lagos. Dr. Danagogo was joined at the State Box of the Sam Nujoma Stadium by Nigeria’s High Commissioner to Namibia, Ambassador Biodun Olorunfemi. Pinnick added: “The domination of our women in African football is no longer in doubt. Seven titles out of nine editions aptly tell the story. What we must now work hard towards is making our mark at the global stage. That is going to start with Canada 2015.”

Babatunde Adedokun captain of Apapa Golden Stars receiving trophy from Mr Novan Bill Brand Manager Extra-Joss at the weekend

Akwa Ibom schools set for Mobil Athletics A kwa Ibom secondary schools are set for this year’s edition of AKS/ NNPC/MPN Schools Athletics Championships, the 14th in the series. Consultant to the project, Paul Bassey revealed that Mobil Producing Nigeria has once again decided to keep faith with a laudable initiative it launched thirteen years ago, by deciding to facilitate this year’s championship. “We are much grateful to NNPC and its joint venture partner, Mobil Producing Nigeria, for the faith it has kept with this programme which has contributed immensely to the development of track and field in our schools and colleges,” he said. Mr Bassey also revealed that there would be a stakeholders meeting in

Uyo on November 7, to fine tune preparations for the zonal finals that would be held a week earlier in the eight sports zones of the state. According to Dr. Lucia Ituen, a director in the State Schools Sports Board, “The state ministry of education will be forever grateful to them for giving our students an opportunity for first class extra curricula activity.” This year’s final will be held at the brand new tracks of the ultra-modern Akwa Ibom International Stadium in Uyo, and the sponsors are guaranteeing that all the students will have the opportunity of having the chance to run with spike shoes and the use of modern track and field equipment.

SPORT | International football 53

NEW TELEGRAPH MONDAY, OCTOBER 13, 2014

Suarez laments ‘bittersweet’ debut loss

arcelona striker Luis Suarez described his return to action from a four-month ban for biting as bittersweet after the Catalans suffered their first league defeat of the season 3-1 away to Real Madrid on Saturday. “I am very happy to return to playing, it is a great relief to have this time behind me,” said Suarez, who was substituted after 68 minutes. “The feeling is bittersweet because of the

result, but this team has lifted itself many times before.” It took the Uruguayan just three minutes to make an impact as he set up Neymar for the opening goal. But after Cristiano Ronaldo had levelled from the penalty spot 10 minutes before the break, Barca were blown away in the second-half by goals from Pepe and Karim Benzema. “Obviously what everyone wants on a debut is a victory, even more so in a game of this

Late van Persie goal denies Chelsea victory

Barcelona Luis Suarez (left) battling with Real Madrid’s Sergio Ramos

Ogba calls for more athletics championships Charles Ogundiya

he President of Athletic Federation of Nigeria, Solomon Ogba, has urged stakeholders especially zonal representatives of the federation to organise athletics championship in their zones. The president tasked the board members to emulate the AFN North Central Zone representative on the board, Abdulkareem Agbaji, who sponsored the North Central Athletics Championships which ended at the weekend at the Ilorin Township Stadium.

Agbaji also sponsors the Kwara State All Secondary Athletics Championships, which is an annual event. Ogba said, “We have a lot of young talents that have the potential to become world beaters in the next two or three seasons, and there are still many others across the country, and it is only through competitions like this that we can discover these hidden talents. “I therefore urge my colleagues on the board, zonal representatives and stakeholders in track and field across the country to regularly organise talent hunts to discover new talents.”

obin van Persie struck deep into stoppage time to rescue Manchester United a 1-1 draw against Chelsea at Old Trafford on Sunday. The visitors looked set to strengthen their grip on top spot in the Premier League table with all three points, before a late twist in the fourth minute of added time ensured that the spoils were shared. Following a goalless first half, Chelsea got their breakthrough eight minutes after the restart with Didier Drogba flicking a header into the back of the net just moments after David De Gea had produced a fine save to deny Eden Hazard who was through on goal.

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

European Premier League

Van persie

The league leaders spurned a great chance to double their advantage when Branislav Ivanovic weaved his way through the United defence, but he could not find the target at the end of his run. The game looked to be beyond the Red Devils, but Van Persie converted in the fourth minute of added time to rescue a point for the hosts.

Man United 1 – 1 Chelsea Burnley 1 – 3 Everton Tottenham 1 – 2 Newcastle West Ham 2 – 1 Man City Liverpool 0 – 0 Hull S’ampton 1 – 0 Stoke Sunderland 0 – 2 Arsenal West Brom 2 – 2 C/Palace Swansea 2 – 0 Leicester

Serie A Chievo 1 – 2 Genoa Juventus 2 – 0 Palermo Udinese 2 – 0 Atalanta

Anichebe, Ameobi, others dazzle

Empoli 0 – 4 Cagliari Parma 1 – 3 Sassuolo Sampdoria 0 – 0 AS Roma

La Liga

Ajibade Olusesan

Almeria 0 – 1 Ath. Bilbao

ictor Anichebe and Sammy Ameobi scored their first goals of the season in England as unsung Nigerian players shone in Europe at the weekend. Anichebe scored in the 51st minute as West Brom came from two goals down to snatch a point at home against Crystal Palace. The goal was Anichebe’s first goal this season. Ameobi came off the bench in the 46th minute and headed Newcastle in front, just one minute later as they snatched a 2-1 victory at Tottenham on Sunday. The winger who is a younger brother of Super Eagles striker, Shola, really tormented Spur’s defence even after scoring his goal. Similarly, Cologne striker Anthony Ujah came off the bench in the 58th and scored a minute later to give his club a 1-0 victory at Bremen. The strike was his second this season in the Bundelsiga. In Russia, midfielder Fegor Ogude scored his first goal of the season in Amkar Perm 2-0 win over FK Rostov. Super Eagles midfielder to the last World Cup, Michael Uchebo, is one of the surprise goal scorers last weekend as he hit target on his debut for Boavista in their 2-1 loss to Pacos Ferreira. Erstwhile Eagles defender Danny Shittu marked his first league start in over seven months with the winning goal for Millwall as they pipped Cardiff City 1-0 in the Championship.

magnitude. I think that we did everything we could to get a good result, but it wasn’t to be,” added Suarez. “We need to forget this game and think about our next opponents. After they equalised to make it 1-1 we controlled the game, we had chances to score and it’s always difficult if you don’t take your chances. In the secondhalf they surprised us with their speed on the counter and killed the game.”

Real Madrid 3 – 1 Barcelona Valencia 3 – 1 Elche Cordoba 1 – 1 Sociedad Eibar 1 – 1 Granada Malaga 4 – 0 Vallecano

Governor Abiola Ajimobi taking a tee shot during the ceremonial tee-off of the Governor’s Cup Golf Tournament of Ibadan Golf Club (IGC) in Ibadan at the weekend.

Eduok,Udoh score 20th goal,equal Aneke’s record Charles Ogundiya

olphins of Port Harcourt striker, Emem Eduok, and Enyimba striker Mfon Udoh on Sunday equalled Jude Aneke’s goal record after scoring their 20th goals of the season for Dolphins in a 3-1 loss to Bayelsa United and Enyimba in their 2-1 win away to Nembe City respectively. Since 2011 no player has been able to break Jude Aneke’s all-time record of 20 goals in a single league season, but with two matches to the end of the season, Eduok and Udoh are on the verge of breaking the record.

Udoh scored a brace as Enyimba came from behind to defeat relegationbound Nembe City while Christian Pyagbara broke Warri Wolves heart with a last minute goal to secure a 1-1 draw for Sharks. Defending champion Kano pillars maintain their push for third consecutive title, beating El-Kanemi Warriors 2-1 in Kano, the adopted home of El-Kanemi. Gombe United and FC Taraba helped their survival cause with interesting results in their games. Gombe United overcame Rangers 1-0 while FC Taraba secured a hardfought 0-0 draw away to Heartland.

ENGLISH PREMIER LEAGUE Team P GD 1 Chelsea 9 +15 2 Southampton 9 +15 3 Man City 9 +9 4 West Ham 9 +5 5 Arsenal 9 +4 6 Swansea 9 +3

Pts 23 19 17 16 14 14

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

14 13 12 11 11 11 10 10 10 9 9 8 4 4

9 9 9 9 9 9 9 9 8 9 9 9 9 8

+1 +3 +2 +0 -2 -2 -1 -5 -8 -3 -4 -9 -11 -12

MONDAY, OCTOBER 27, 2014 NEW TELEGRAPH

NEW TELEGRAPH MONDAY, OCTOBER 27, 2014

Sanctity of Truth

On Marble

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened. – Winston Churchill

World Record

The world’s longest road tunnel: Travelling from Laerdal to Aurland in Norway 15.2 miles of tunnel through mountains nearly 6000 feet high.

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

MONDAY, OCTOBER 27, 2014

N150

Words of a Haramite, perfidy of BBOG campaign

“W

hen I say that the Presidency must come to the north next year I am referring to the Hausa-Fulani core north and not any northern Christian or Muslim minority tribe. The Christians in the north are nothing and the muslim minorities in the north know that when we are talking about leadership in the north and in Nigeria, Allah has given it to us, the Hausa-Fulani. They can grumble, moan and groan as much as they want but each time they go into their bedrooms to meet their wives and each time they get on their prayer mats to begin their prayers, it is we the Fulani that they think of, that they fear, that they bow to and that they pray for. Some of them are even ready to give us their wives and daughters for one night’s sport and pleasure. They owe us everything. This is because we gave them Islam through the great Jihad waged by Sheik Uthman Dan Fodio. We also captured Ilorin, killed their local King and installed our Fulani Emir. We took that ancient town away from the barbarian Yoruba and their filthy pagan gods. We liberated all these places and all these people by imposing Islam on them by force. It was either the Koran or the sword and most of them chose the Koran. In return for the good works of our forefathers, Allah, through the British, gave us Nigeria to rule and to do with as we please. Since 1960 we have been doing that and we intend to continue. The Igbo tried to stop us in 1966 and between 1967 and 1969 they paid a terrible price. They were brought to heel and since then they have been broken. No Goodluck or anyone else will stop us from taking back our power next year. We will kill, maim, destroy and turn this country into Africa’s biggest war zone and refugee camp if they try it. Many say we are behind Boko Haram. My answer is what do you expect? We do not have economic power or intellectual power. All we have is political power and they want to take even that from us. We must fight and we will fight back in order to keep it. They have brought in the infidels from America and the pigs from Israel to help them but they will fail. The war has just begun, the Mujahadeen are more than ready and by Allah we shall win. If they don’t want an ISIS in Nigeria then they must give us back the Presidency and our political power. Their soldiers are killing our warriors and our people every day but mark this: even if it takes one hundred years we will have our revenge. Every Fulani man that they kill is a debt that will be repaid even if it takes 100 years. The Fulani have very long memories’’. These are the words of an unrepentant Haramite by the name of Aliyu Gwarzo who I am told hails from Kano. I might add that his views do not represent the thinking of the majority of

Crossfire FEMI FANI-KAYODE ffk2011@aol.com

hausa-fulani people but it does represent a tendency which is, more often than not, kept as hidden and as secret as possible. The fact that it is not often spoken or publicly expressed does not mean that it is not, there. Whether we like to admit it or not there are some individuals, like Gwarzo, in our country that fully espouse the doctrines of apartheid and who honestly believe that they were born to rule and that Nigeria was bequethed to their fathers and ancestors. Wining and dining with such people is like making merry with a cult of vampires: one must do so with a very long fork and knife. To them the return of power to the north, and when they say north they mean the small cabal of ultra conservative fulanis and no-one else, is an imperative that must be achieved by any and every means necessary. To them cheating, lying, killing, maiming, deceiving and pretending is fair game providing that objective is achieved. It is an insidious, deadly and dangerous agenda which, sadly, many from outside the north that have aligned with the opposition and particularly the Buhari presidential aspiration are unknowingly feeding into. Luckily for us, the Aliyu Gwarzo’s of this world do not speak for or represent the thinking of the ordinary working class hausa-fulani, or indeed northerner, who are as much of a victim of this chronically racist cabal as anyone else. Neither do they speak for the more enlightened, progressive and civilised elements within the northern ruling class that are silently rising up like the Kashim Ibrahim Imams, the Nuhu Ribadus, the Sambo Dasukis and the Ahmed Muazus of this world who are doing their very best to swim against the tide and establish a new northern Nigeria where racism and ethnic bigotry have no place and where all men, regardless of tribe or creed, are regarded as being equal before the law and before God. Unfortunately I cannot vouch for some of the leading members of the opposition and particularly the Buharis of this world in the same way. One of the strategies that the hegemonists have employed to achieve their objectives is the insidious attempt to use the Nigerian chapter of the Bring Back Our Girls campaign group (BBOG) to undermine and rubbish the attempts of the present government to get the Chibok girls back home. It would be interesting to know who funds this group and who the hidden forces, foreign or otherwise, that give

Ezekwesili

them orders really are. Are they involved with the CIA? Are they linked to the South African intelligence agencies? Are they in bed with M16? These are questions that need to be answered. Every single Nigerian yearns and prays for the return of the Chibok girls but when this otherwise laudable initiative and noble activism becomes a rallying point for everything that is anti-Jonathan, anti-government and anti-military it gives cause for concern. In their determination to denigrate the efforts of our intelligence agencies and our armed forces, the leaders of the BBOG campaign seem to forget that men and women of the Nigerian military and security agencies are being killed every day in their attempt to protect us against Boko Haram. These courageous and patriotic Nigerians are risking their lives for us and they are giving their today so that we may have our tomorrow. It is as a consequence of their gallant and courageous efforts that many of us can sleep well late into the night in the knowledge that we are safe and secure. Yet the leadership of BBOG do not appear to appreciate this and instead of commending our armed forces and security agencies for their noble sacrifice they constantly ridicule their efforts on CNN, BBC, Al Jazeera and elsewhere. Worse still they are clearly in bed with the opposition. If it is true that the Nigerian wing of the ‘’Bring Back Our Girls Campaign Group’’ is the political wing of APC as Chief Audu Ogbeh, the Director General of the Buhari for President Campaign Organisation, has said, then some of it’s leading figures have some hard questions to answer. Whatever happened to their claim of impartiality and neutrality when

it comes to political matters? This has proved to be the lie of the century. Some of us knew all along that they were manipulating the system and using the Chibok tragedy just to embarass the Federal Government and the PDP. I smelt a rat right from the beginning when it was brought to my attention that virtually every single key figure in the Nigerian wing of the Bring Back Our Girls Campaign is an APC member or sympathiser and when I noticed that they constantly shied away from attacking or criticising Boko Haram itself. Instead of doing that they have channeled all their anger and toxic frustrations towards the Federal Government and saved all their vitriol and hate for the President. One would have thought that they would blame the terrorists, kidnappers and abductors as much as the security agencies who failed to find the girls and rescue them but this is not the case. As far as the key figures behind the Bring Back Our Girls Campaign are concerned the Federal Government, who have not been able to find the girls and return them home safely, are the demons whilst Boko Haram, who are the ones that actually abducted the girls and subjected them to rape, slavery, torture and the most extreme and brutal form of physical abuse, are the angels. This twisted logic is a manifestation of their sheer perfidy and a reflection of their confused minds. They are a handful of heartless people that will do and use anything or any situation to gain some political mileage for their friends in high places. This is so even where the liberty,welfare, future and lives of innocent little children are involved. The truth is that those behind the Bring Back Our Girls Campaign in Nigeria are shedding crocodile tears and they have been doing so for the last few months. They do not mean what they say and they do not want those girls to be found and brought home because the political party that they represent is getting so much political mileage out of this whole sordid episode. This is sad and unfortunate but it is the bitter truth. It is utterly despicable to use the plight of those poor girls for political purposes. Worse still it is clear to me that Boko Haram, the military wing of the APC, are working closely and in tandem with it’s political wing which, according to Audu Ogbeh, is the BBOG campaign organisation. The former are a bunch of sadistic murderers, pyschotic beasts, perverted child rapists and reprobate sociopaths who actually carried out the kidnapping and stole our girls from their school in the middle of the night whilst the latter are a bunch of sanctimonious ‘’holier than thou’’ pretenders who have an insidious and dangerous political agenda, who do not give a hoot about the welfare or well-being of the girls and who take pleasure and delight in gloating over the fact that the Federal Government has been unable to locate, find or rescue them.

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.