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New York Times ‘weds’ New Telegraph today lHistoric eight-page debut pullout inside Biodun Durojaiye

fter months of frenzied preparations and anxious expectations, it is here at last! The

New York Times makes a historic debut in today’s edition of New Telegraph, in form of an eight-page pullout. The Board of Editors of New Telegraph had,

in the last few weeks, been working round the clock in consultation with the New York Times’ team and our Editorial Coordinator in Europe, Sam Am-

sterdam, to ensure a hitch-free take-off of the weekly insert, every Monday from today. The publication of the New York Times International Weekly

insert is sequel to the granting of an exclusive licence by the New York Times to New Telegraph, to print and distribute the publication in Nigeria every week for the

next three years. With the debut of the insert today, business and political leaders in Nigeria will be able to join their counterparts CONTINUED ON PAGE 5

APC ticket not for sale

lOdigie-Oyegun: Presidential slot not for highest bidder lDeclares race free for all }5 Quick Read Editorial

Before the new national carrier starts flying }19 APC, PDP bicker over containment of Ebola }7

UK church removes Oyakhilome as trustee }7 PDP petitions NJC over alleged bid to stop Fayose’s inauguration }12 Chime: Consensus candidacy democratic }45 L-R: Head of Glo Value Added Service, Mr. Viswanath Nagasai; Head IT, Nigerian Educational Research and Development Council (NERDC), Mr. Christian Obi; Sales Director, Glo 1 Enterprise, Mrs. Bolanle Ogundogba and Lagos State Chairman, Nigeria Union of Teachers (NUT), Mr. Segun Raheem, at the launch of Glo Mobile Tutor for primary and secondary school pupils in Lagos...at the weekend.

Shell assets’ winners to get consent before 2015 polls Adeola Yusuf

inners of $5 billion assets of Shell Petroleum Development Company (SPDC) which the oil major

has put up for sale in Nigeria have intensified lobbying to secure the statutory minister’s consent for the deal before the presidential election billed for February 2015, New Telegraph gath-

ered at the weekend. Although, Shell has finalised key sale and purchase agreements on four oil blocks, the firm is awaiting the statutory minister’s consent before

it announces the winners. The company is divesting its 30 per cent stake, while Total and ENI are set to sell 10 per cent and five per cent equities respectively in four Nigerian oil

blocks – Oil Mining Leases (OMLs) 18, 24, 25 and 29. The Nigerian National Petroleum Corporation (NNPC) will retain ownership of the remaining CONTINUED ON PAGE 6

Borno, Taraba pilgrims pray for end to insurgency }47 LAGOS

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MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

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MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

News

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

APC throws open presidential race Ayodele Ojo and Johnchuks Onuanyim

he All Progressives Congress (APC) has made its presidential race an all comers’ affair, subject to an aspirant’s ability to meet some prescribed criteria. According to the party, it will neither give automatic ticket nor adopt any of its presidential hopefuls as the candidate for the February 14, 2015 election. APC National Chairman, Chief John OdigieOyegun, told New Telegraph at the weekend that the party would also not zone its plum office to any of the six geopolitical regions. However, in a bid to reduce the rancour the battle for its presidential ticket is set to generate, a new code of conduct is to be handed over to former Head of State, Major General Muhammadu Buhari, former Vice-President Atiku Abubakar and other presidential hopefuls ahead

of the party’s national convention holding on December 2. Besides Buhari and Atiku, others jockeying to fly the party’s flag in the next presidential election are the publisher of Leadership Newspapers, Mr. Sam Nda-Isaiah as well as Governors Rabiu Kwankwaso (Kano), Adams Oshiomhole (Edo) and Rochas Okorocha. Odigie-Oyegun dismissed an idea of giving automatic ticket to Buhari as being canvassed by some people, saying he will not be a party to foisting an aspirant on the party. “This is a free country; anybody can canvass any point of view. All we do is to listen. If we have three, four or five aspirants and four out of five say this is the man we want, no problem. But I am not going to spearhead that kind of move. I am not going to force that kind of move and I am not going to appeal to any aspirant to withdraw from any race.

“If the presidential aspirants all sit down and say out of us, we want this aspirant to be the candidate, beautiful. Which means the aspirants among themselves have arrived at a consensus; we are alright by it. Any day that is fantastic; we can welcome this but we will not enforce the situation,” he added. He also dismissed speculation that there was an understanding at the formation of the APC that preference will be given to Buhari as the party’s candidate in the 2015 election. He said: “There is no such thing in a democratic system. Our constitution is supreme and, in any case, I am not aware about such an understanding. I am not aware of that kind of promise or commitment to any deal.” According to him, the APC will never tow the path of the PDP following the adoption of President Jonathan by the party as its sole candidate for the February election.

“One thing we will never do is to imitate what PDP has done. God forbid. We cannot walk in the same path as PDP; we are different. You can be sure that not all the party members are happy about the decision,” he said. The national chairman also ruled out zoning of the presidency, saying the party members will determine the best man for the job. “Look, the members of the party will decide on the best person to get them to Aso Rock. The best person to discharge the manifesto of the party and our contract with the people of the nation will emerge as our presidential candidate. Wherever that person comes from, who is best for Nigeria, will be our candidate,” he told New Telegraph. But ahead of the APC’s presidential primaries, New Telegraph learnt that the aspirants are to adhere to the code of conduct that will be handed over to them by next week.

Other aspirants for governorship and legislative seats are also to subscribe to the code of conduct. The document is awaiting ratification from the National Executive Committee (NEC) of the party. A breach of the code, according to the party, may lead to the disqualification of an aspirant that does so. It was learnt that part of the code of conduct is that the presidential hopefuls must eschew negative campaign or running down their opponents. The document specifies that campaign should be issue-driven and devoid of “abusive or vile or derogatory language.” Also, aspirants’ campaigns will not be based on ethnic or religious sentiments or prejudices. A member of the National Working Committee (NWC) of the APC told New Telegraph that the clause against negative or hate campaign was inserted in the code of conduct to guard against the

L-R: Former Chairman, Intra-party Advisory Council, Mr. Shitu Mohammed; former governoship aspirant in River State, Chief Kio Bestman; former Governor of Abia State, Dr. Orji Uzor Kalu and former member, House of Representatives, Hon. Edozie Madu, during the birthday ceremony for Madu’s children in Abuja...at the weekend.

New York Times ‘weds’ New Telegraph today CONTINUED FROM PAGE 1

across the globe, every Monday, in reading one of the world’s most reputable newspapers. Commenting on the development, the Managing Director/Editorin-Chief of New Telegraph, Mr. Eric Osagie, said: “This partnership is part of the newspaper’s strategic process of continuous improvement and value offering on our products, to our esteemed readers and advertisers, who have

believed in this newspaper from the start. We decided to partner New York Times because it is one of the most reputable newspapers in the world, and what those amongst our target audience would read when they are in America or any part of Europe. Now, our audience in Nigeria don’t have to go to America to read the NYT. Every Monday, when they buy the New Telegraph, they hit the international news

highway instantly. It is the best of two worlds our readers and advertisers will be getting for the price of one.” The insert is a cobranded weekly section in the New Telegraph, in the layout and typography of the New York Times domestic edition. It shall be composed of news coverage, business, arts, science, commentary, color photos and graphics about the United States, world affairs, culture and so-

cial trends. The deal with the New York Times (NYT) is the first of its kind by the newspaper with any newspaper organisation in Africa and entails the New Telegraph carrying the 12-page insert of which is produced by Chief Correspondents and Editors of NYT, every Monday for the next three years. Also as part of the deal, the New Telegraph will display a PDF version of each issue of

the insert on the newspaper’s website, http:// www.newtelegraphonline.com, for a period of no more than 14 days following first publication. The New York Times is an American daily newspaper, which was founded on September 18, 1851 and has continuously been published in New York City since then. It has won 112 Pulitzer Prizes, more than any other news organisation.

repeat of the bitter contest in the build-up to the 2011 presidential primaries of the Peoples Democratic Party (PDP) wherein the supporters and campaign organisations of Jonathan and former Atiku engaged in a bitter struggle for the party’s ticket. The airwaves and print media were awash of negative campaigns by both Jonathan and Atiku. Also, party officials at all levels are prohibited from being involved in the campaign of any aspirants. The thinking is that the involvement of party officials in the campaign of the presidential aspirants will defeat the essence of level playing field for members of the leading opposition party. One other issue in the guidelines is the clause against bribery or inducement, either directly or indirectly, by the aspirants or their agents. “Any act of inducement of party delegates to the national convention will amount to disqualification of any aspirants. “If the use of money is not guarded against, the party may be denied of the preferred candidate. In that case, the highest bidder will get the APC ticket,” a member of the party’s Board of Trustees (BoT) said. Also, the code of conduct entails aspirants ensuring that their campaign is devoid of violence, thuggery and any act that could breach public peace. Odigie-Oyegun also confirmed the existence of the code of conduct for the presidential aspirants. He said the need for a code of conduct was to avoid acrimonious campaign and ensuring a level playing field for all the aspirants. “We are going to provide a level playing field for all the aspirants. And while they are in the process of selling themselves to the party, there is going to be a strict code of conduct which the aspirants must adhere to. People should sell their qualities. They should not bring any negative campaign of any type; tell the people why you are the best person for the job. That is the basic code of conduct. There are others too. “Besides, no party official should be involved in the campaign structure of any of the aspirants because it is the source of division. No party official at whatever level should be involved. Those are the basic things,” he said. He said his leadership would ensure the provision of a level playing field for all CONTINUED ON PAGE 7

News

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Budgetary constraint stalls Aso Rock clinic expansion Anule Emmanuel Abuja

here are indications that the plan to expand the Aso Rock State House Medical Clinic (SHMC) with the construction of an elite section (a presidential wing) has been stalled by paucity of funds. In the 2014 appropriation act, the National Assembly approved a total of N205.3 million as against N1.3 billion earlier proposed by the Presidency for the expansion project at the SHMC. New Telegraph gathered that the proposed new VIP wing of the clinic has been designed to take care of special medical needs of high profile visitors to the country including heads of states and governments. Sources in the Villa told our correspondent that although government has since engaged the services of foreign consultants for the reclamation of a portion of land located close to one of the military barracks in Abuja where the new VIP structure will be built, non-release of funds from the N205.3 million approved by the legislature has caused a halt in the execution of the project. Chief Medical Director of the SHMC, who is also the chief physician to the

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President, Dr. Fortune Fiberesima, told New Telegraph that there was no money to continue with the project. He said: “Nothing is happening now. The VIP wing project has been phased to be completed in the next couple of years but there are no funds to continue at the moment.” Meanwhile, the management of the clinic is yet to dispose of 10 special Ford Ambulances which

they put up for auction some months ago. Fiberesima had also told our correspondent that the 10 ambulances which were purchased in 2008by the Umaru Yar’Adua administration for the clinic became expensive to maintain leaving government with the only option to sell them. The ambulances were ordered from the United States. According to him, “the

ambulance use Sulphur Diesel which is expensive and hard to get against the type of diesel we use in the country. We could not afford it,” he said. He noted that it was costing the SHMC N1 million to service one ambulance at each service period, a situation which could not be sustained. Two of the Ford Ambulances broke down in Lagos some months back and have since been aban-

doned there because they could not be fixed. “The Ford Ambulances have already been out for auction but no one is coming forward to buy. Because the presidential convoy cannot move without an ambulance, the State House in 2012 purchased two new Mercedes ambulances to replace the Ford model. Only these two ambulances are currently in use for presidential movement,” he added.

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

L-R: Permanent Secretary, Lagos State Ministry of Science and Technology, Nike Animashaun; Governor of Lagos State, Babatunde Fashola; Chief Strategist, Chain Reactions Nigeria, Israel Jaiye Opayemi; Managing Director, Grenadines Homes, Noimot Olatunji and Chief Executive Officer, 3Invest, Ruth Obih, at a property conference in Lagos...at the weekend.

Shell assets’ winners to get consent before 2015 polls CONTINUED FROM PAGE 1

55 per cent in each of the four leases. The sale of the four oilfields is expected to raise at least £2 billion for the SPDC. A representative of one of the winners confided in New Telegraph at the weekend that his company was optimistic that the approval would be secured even before the end of 2014. “Of course, our wish is to secure the Federal Government’s approval before the expiration of this present government. We believe that the government is following due process and it will be in the best interest of the Local Content Development Act of the government if the minister’s consent is given before the next political dispensation. Our aim is to get it by December, if possible. “We are meeting with the government representatives on this regularly and I can tell you that talks have reached an advanced stage,” he said. According to him, the buyers are afraid of policy somersault and political manoeuvring.

“It is this fear that made us to believe that the current government is in the best place to witness the completion of the deal; this is because transaction of this magnitude requires stability of policy and funds,” he added. Shell has signed all major documents on the sale of the assets worth $5 billion with buyers. The companies that have won the bids are already in talks with lenders on how to raise funds for the assets. Under the ongoing divestment programme, Nigerian-led oil traders, Aiteo and Taleveras, are believed to have won the race for the largest block, OML 29 and the Nembe Creek Trunkline, beating off competition from another local firm, Seplat Petroleum. Aiteo and Taleveras have made the highest bid of $2.85 billion for the biggest of the four Shell assets up for sale. Seplat, which listed in London earlier this year, was also outbid on block OML 24 by the United States-based Pan Ocean Energy.

Dangote Group, headed by Africa’s richest man, Alhaji Aliko Dangote, leads one of the few Nigerian only consortia with the financial firepower for the auction. But another source said he was outbid on OML 18 by a Canadian firm, Mart Resources. A Swiss-based commodities firm, Glencore, expressed initial interest in making a foray into Nigerian oil but dropped out of the race months ago. Pan Ocean Oil Corporation Nigeria Limited, operator of the NNPC/ Pan Ocean Joint Venture, clinched OML 24 valued at between $500 million and $1 billion, while Lekoil, Crestar, GreenAcres/ CCC/ Signet Petroleum, NDPR/ SAPETRO and Essar submitted bids for OML 25. OML 24 currently delivers 25,000 barrels of oil equivalent per day from three fields and outputs eight million standard cubic feet per day of gas (MMscf/d). “Even the Department of State Security (DSS) and the Economic and Financial Crimes Commission (EFCC) have concluded the

probe of the transactions of Shell’s assets worth $3 billion, while all is set for the announcement of winners. But this cannot be done without the statutory minister’s consent,” another source said at the weekend. The EFCC and DSS probes are statutory requirements before the deal can be consummated, while the Federal Government’s approval through the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, gives the final approval to complete the transaction. Another source with knowledge of the bidding process said: ‘They (winning bids) have paid massively over the odds.” The divestment by SPDC is part of the Anglo/ Dutch giant’s plan to dispose off $15 billion of assets globally between 2014 and 2015. Choosing the right buyer, rather than the highest bidder, can be crucial to securing sales, in a country where political influence can decide deals and legal disputes or financial problems can scupper them.

OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00 IBADAN-ABUJA (MON-FRI) 08:00 IBADAN-LAGOS (MON-FRI) 16:30 ILORIN –ABUJA (MON-FRI) 08:30 ILORIN –LAGOS (MON-FRI) 17:00 ABUJA-ASABA (MON-FRI) 10:00 ASABA-ABUJA (MON-FRI) 14:15 ASABA-LAGOS (MON-FRI) 11:30 LAGOS-ASABA (MON-FRI) 13:00 ABUJA-ILORIN 16:00 ABUJA-IBADAN 15:00 ARIK AIR LAGOS-ABUJA (MON-FRI) 07:00; 08:00; 09:00; 11:00 13:00; 15:00; 17:00; 19:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 11:00; 13:00; 15:00; 17:00; 19:00 ABUJA-LAGOS (MON-FRI) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00; 20:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 09:00; 13:00; 15:00; 17:00; 19:00 LAGOS-PORT-HARCOURT (MON-FRI) 07:00; 09:30; 11:00; 13:30; 15:00; 17:30 (SAT) 07:00; 11:00; 15:00 (SUN) 09:30; 11:00; 13:30; 15:00; 17:30 PORT-HARCOURT-LAGOS (MON-FRI) 07:30; 09:00; 11:30; 13:00; 15:30; 17:00 (SAT) 07:30; 11:30; 09:00; 13:00; 17:00 (SUN) 11:30; 13:00; 15:30; 17:00 ABUJA-PORT-HARCOURT (MON-FRI) 06:45; 10:10; 13:30; 16:50 (SAT/SUN) 06:45; 10:10; 13:30 PORT-HARCOURT-ABUJA (MON-FRI) 08:30; 11:50; 15:10; 18:30 (SAT/SUN) 08:30; 11:50; 15:10

News

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

APC, PDP spat over containment of Ebola Temitope Ogunbanke, Johnchuks Onuanyim and Onyekachi Eze

he All Progressives Congress (APC) and Peoples Democratic Party (PDP) yesterday engaged in brickbats over who should take credit for the containment of the Ebola Virus Disease (EVD) in Nigeria. The APC told President Goodluck Jonathan and the ruling party that it will amount to sheer dishonesty for the duo to turn what was a collective effort to a PDP campaign issue. But the PDP accused the opposition party of being unhappy that the Federal Government was able to contain the spread of Ebola. In a statement issued by the National Publicity Secretary of the APC, Alhaji

Lai Mohammed, the party said President Jonathan and his party were wrong to have appropriated the credit for the successful containment of the EVD without giving due credit to the real heroes of the successful battle: Dr. Stella Adadevoh and her colleagues at the First Consultant Hospital; officials of the Ministries of Health in Lagos and Rivers states and the patriotic Nigerian volunteers, among others. The Transformational Ambassador of Nigerians (TAN), a group campaigning for the re-election of the president, credited the success of the battle against Ebola to President Jonathan in its campaigns. But the APC described this as a cheap publicity. Mohammed said: “The cities of Lagos and Port Harcourt are perhaps the

largest metropolis to have ever been hit by the EVD since the first outbreak was recorded in the Democratic Republic of Congo almost 40 years ago, and any mishandling of the disease could have spelt disaster not just for the cities but for the country as a whole. “Governors Babatunde Fashola of Lagos State and Rotimi Amaechi of Rivers State employed the same winning strategies that have stood their states out of the pack and quickly rose to the occasion, putting in place measures that ensured a quick curtailing of the EVD spread. “Unlike the President and the PDP, we will also like to give credit to the Minister of Health, Prof. Onyebuchi Chukwu, for acting out of character with the do-nothing Jona-

than administration. We hope President Jonathan and his party will stop making the Ebola success story in which opposition states were the main actors a fulcrum of their campaign for the 2015 general election. They cannot and should not take credit for the containment of Ebola in Nigeria,” APC said. The party also advised President Jonathan not to use the Ebola containment effort as another tool to divide Nigerians along party lines. PDP’s spokesman, Chief Olisa Metuh, said the APC is unhappy with the speed and energy with which the Federal Government tackled the Ebola scourge and brought it under control. It described the APC’s statement as yet another failed attempt to discredit the PDP-led Federal Gov-

ernment and relegate its efforts in the containment of Ebola in Nigeria. “We know that the APC prefers that the Ebola scourge continued unabated in Nigeria so as to have what to blame the PDP-led government for. Now that it has been contained, the APC is frustrated because the people are happy with President Jonathan and the PDP-led Federal Government for the proactive manner with which the disease was confronted and overcame,” the party said. The PDP noted that the success recorded on Ebola was because President Jonathan refused to politicise the issue but embark on aggressive multi-sectoral approach for treatment, awareness and control to the admiration of all Nigerians and the international community. Metuh said: “The PDP makes bold to state that the

multi-sectoral approach deployed by the Federal Government with the concerted collaboration of the Federal Ministries of Health, Aviation, Information, Education, Transport and other relevant agencies such as the Nigerian Immigration Service for intensive screening, quarantine and treatment efforts as well as the massive awareness which ended the spread of the disease and resulted in its containment in our country. “We are also amused by the contradictions in the APC’s statement in which it also commended the roles played by the Minister of Health, Prof. Onyebuchi Chukwu, in the containment effort. We ask; Is the minister not appointed and supervised by President Jonathan? Is he not of the PDP? Or is the APC now trying to appropriate him?”

APC declares race free for all CONTINUED FROM PAGE 5

Children having fun at Heritage Recreational Park, Oshodi during the Eid-el-Kabir holiday…yesterday.

PHOTO: GODWIN IREKHE

Christ Embassy: UK church removes Oyakhilome as trustee

he Founder of Believers Love World (aka Christ Embassy), Pastor Chris Oyakhilome, has been removed as a trustee of the United Kingdom’s branch of the church. In the documents filed by the church’s UK branch to the Charity Commission of England and Wales, Oyakhilome is no longer a registered trustee of the church. According to PREMIUM TIMES, Anita now heads the seven-man Board of Trustees peopled by loyalists of the estranged wife. The six other members of the board, according to the online portal, are Obi Chiemeka, Ifeoma Onubogu, Nkem Odiakah, Raymond Okocha, Tony Obi and Uche Onubogu. No reason has been given for the removal

of Oyakhilome’s name from the trustees. He was consistently listed as a prominent trustee since 1996, when the branch was established. The development is a fallout of the marital crisis between Oyakhilome and Anita. Anita’s profile was recently pulled down from the church’s website. The estranged couple are locked in a divorce battle in a London court to end their 20-year-old marriage. Anita accuses her husband of “unreasonable behaviour,” a charge Oyakhilome has repeatedly denied. The UK church is worth £31 million (N8.2 billion). Before the crisis set in between the couple, Oyakhilome headed the Board of Trustees while his wife presides over the UK branch of the church.

The new development also signifies the existence of a leadership tussle between the embattled couple. Oyakhilome had earlier dropped a hint of the power tussle when he reportedly accused his wife of acting like an equal and wanting to overpower the authorities of the elders she met in the church. According to the online medium, the removal of the pastor from the trustees was a plot by his wife to take total control of the affairs of the branch. “He [Chris] has been effectively sidelined,” an insider in the church said. “The law in the U.K. does not recognise him as an interested party in that branch of the church anymore.” It’s not yet a win-win situation for Anita as the Charity Commission had

on August 11 sidelined the seven-man board led by Mrs. Oyakhilome with the appointment of an interim manager to run the affairs of the church. Already the Charity Commission has launched an inquiry into the finances of the church following suspicious payments worth N941 million made between 2008 and 2012. In what it described as a “temporary and protective measure,” the commission appointed Rod Weston of the international audit and accounting firm, Mazars, to take over the running of the church. Until investigation is concluded, Weston would preside “over the management of the charity, including its staff, assets, interests, and relations with third parties,” the commission said.

the aspirants. “What the party asked me to do and that I am doing is to ensure a level playing field. And I am not going to accept anything less than a level playing field. We are going to do everything possible to ensure that. I will be in charge of all this and I will set up a team that will make sure there is no nonsense,” he added. Odigie-Oyegun also assured Nigerians that the defection of some heavyweights from the APC would not affect the fortunes of the party in the 2015 general election. He said: “Please, do me a favour, who are the big members? With Ibrahim Shekarau going, we got five PDP governors. Why don’t you people look at the other side of the coin? That though we lose, we gain. Look at that side of the coin; list those who have left us, list those who have come to us and see what the balance is like. “Only a week ago, I went to Lokoja to receive seven out of 20 members of the Kogi State House of Assembly. We have been growing every day in quality; those who left us are controversial people who cannot fit into our ideological orientation. You can see, it is obvious. Instead of Shekarau, we got Governor Kwankwaso of Kano State. Haba! Look at the balance. Instead of Attahiru Bafarawa, we got the Governor of Sokoto State, Aliyu Wamakko. Haba! Can you compare! When Tom Ikimi was the National Chairman of the (defunct) National Republican Convention (NRC), I won the governorship elec-

tion in Edo State. So, you people should see that we are increasing in quality every day.” Odigie-Oyegun also expressed confidence that his party will win the 2015 elections. “We are confident that we will win in 2015. Our campaign is not going to be a long one. Our campaign is going to be on PDP, point one. Number two, what we offer will be very clear and we have no doubt at all what the response of the public will be. Because every day we are testing the pulse of the public, every day we are asking questions nationwide. We had to create a team of people all over the country telling us what the people think about us week in week out and we are going to tailor our message to what the people want any government, our government, to do for them,” he said. Meanwhile, the APC will today begin selling of its Expression of interest form. The party’s timetable, which was adopted at the last NEC meeting, stipulates that collection of the form will begin on October 6 and close on October 19. Collection of nomination form begins from October 19 to November 16. Those aspiring for the presidential ticket of the party are expected to pay N27 million for both forms, while sitting governors aspiring to return are expected to pay N10.5 million and their challengers are expected to pay N5.5 million. Also, the party’s NEC approved indirect primaries for the tickets of the party.

News

monday, OCTOBER 6, 2014 NEW TELEGRAPH

Azura-Edo power plant for inauguration Temitope Ogunbanke

L-R: Chairman, Rivers State All Progressives Party (APC), Chief Ibiamu Ikanya; Governor Rotimi Amaechi and Chairman, Degema Local Government, Mr. Daddy Ipokima, at the inauguration of the Tonye Harry Stadium by the governor…at the Weekend

endorsement Ugwuanyi is scoring more marks uniting the PDP caucus leaving Ayogu Eze with little option Uwakwe Abugu Enugu

he Enugu State Caucus of the Peoples Democratic Party (PDP) has endorsed Hon. Ifeanyi Ugwuanyi as the consensus candidate of the party for the 2015 governorship election in the state. The party also formally reacted to the protest lodged by one of the aspirants. Senator Ayogu Eze, and told him that the party has not barred any governorship aspi-

Enugu PDP caucus adopts Ugwuanyi as consensus governorship candidate l Gives other aspirants green light rant on the platform of the party from presenting himself during the coming party primaries in the state. Rising from a special meeting held on Saturday at the Government House, Enugu, the state PDP Caucus reviewed the earlier endorsements of Ugwuanyi by the three Senatorial District caucuses of the party and unanimously adopted him as the consensus governorship candidate of the party in Enugu State. The motion for his adoption was moved

Amaechi mobilises for votes against Jonathan

ivers State Governor, Chief Chibuike Rotimi Amaechi has urged the people of the state to vote out the PDP-led Federal Government in next year’s election to secure their future. Amaechi spoke at the weekend in Degema, the headquarters of Degema Local Government Area of the state, after commissioning an 8,000-sitting capacity football stadium complex built by the local government administration. Amaechi said the PDP has nothing to offer Kalabari people, and one way for the people to regain their lost oil wells and benefit from democratic governance was to vote out the PDP. Amaechi explained that the President was taking sides in the Soku oil wells matter, as he

narrated the president’s reaction during a meeting with Kalabari Chiefs. “In that meeting, before Kalabari Chiefs, Mr. President said to us, ‘you people call it Soku, we from Bayelsa call it Oluasiri’. ‘Is Soku Oluasiri?’, he questioned and the people said ‘no’. “As President of the Federal Republic of Nigeria, he is not supposed to take sides. The moment he said it is called Oluasiri, he is taking sides and we have no faith in Mr. President returning our oil wells. They have taken the (Soku) oil wells; they are spending the money because they have the Presidency. The only way you can get back your oil wells is to vote out Mr. President. The only opportunity you have now is your vote. Vote him out. He is not Rivers,” Amaechi said.

by a member of the Federal House of Representatives, Hon. Ogbuefi Ozomgbachi and seconded by the former National Secretary of the party and member of the party’s Board of Trustees, Chief Rex Onyeabor. On the protest against the action, the party explained that the process of the endorsements has not barred any aspirant who has a contrary position on the matter and still insists on participating in the party primary election from presenting him or herself for the ex-

ercise. In a statement signed by its State Publicity Secretary, Dr. Okey Eze, the party stated that the clarification has become necessary “in view of the erroneous impression being created in some sections of the media by an aggrieved aspirant from the state that he has been denied the right to participate in the party’s governorship primary election. He said “PDP Family in Enugu State has since the inception of the present administration adopted a systematic

APC group accuses OdigieOyegun of supporting Buhari Johnchuks Onuanyim Abuja.

political group in the All Progressives Congress, Southern Mandate, has accused the National Chairman of the party, Chief John Odigie Oyegun, of supporting the presidential ambition of Gen. Muhammadu Buhari against others. The group, which held its meeting last weekend, said it would soon stage a national protest to demand for the sack of the national chairman of the party over his preference of a presidential aspirant. But in another development, another support group, the Buhari Vanguard, also called for the adoption of Buhari as a consensus candidate of

APC. The Southern Mandate, headed by one of the aides to Edo State governor and founding father of CPC in the state, said it has discovered a plot by the national chairman and other National Executive Members towards adopting Buhari as the party’s sole candidate for the presidential race in 2015, adding that such move will spell doom for the party. The group comprising chairmen and secretaries of the 17 states of the defunct Congress for Progressives Change (CPC) in its meeting held at the weekend in Abuja and Edo State respectively, said that it have reached an agreement to support a younger presidential aspirant, Governor Rabiu Musa Kwankwaso, instead of Buhari.

approach of peacefully dealing with the issues of its primaries through dialogue and wider consultations with the people.” Eze said such approach, which has always worked for the party has never stopped other aspirants, who insist on participating in the primaries from doing so, saying the party “wonders why one of the major beneficiaries of the process should raise such false alarm against the party in order to whip up negative sentiment”.

resident Goodluck Jonathan will perform the foundation laying ceremony of the $1 billion Azura-Edo 1,000 megawatts gas-powered Independent Power Plant on Friday at Ihovbe/ Orior Osemwende communities, in Benin City, Edo State. Chief Press Secretary to Governor Adams Oshiomhole, Mr Peter Okhiria, in a statement made available to New Telegraph yesterday, stated that the AzuraEdo IPP will provide over 4,000 direct and indirect jobs for the people of the state from the construction to the post-construction period of the project. “The Azura-Edo Power Project is a clear demonstration of the confidence of the international community in the economy of Edo State. It is an indication that Edo State is investor-friendly as the government under Comrade Adams Oshiomhole has put in place the necessary infrastructure to attract investors to the state. “This is another project conceptualized by the Edo State Government under the Public Private Partnership Programme to unlock the industrial potentials in the state and make the state the nation’s energy hub,” he said. The first phase of the project, which was conceptualized in 2010 and jointly incubated by the Edo State Government and Amaya Capital, the key promoters of Azura Power West Africa Ltd, is 450-500 mega watts to be scaled up.

Firm asks court to re-open Abuja market Tunde Oyesina Abuja

n Abuja High Court has been asked to order that full scale business transaction be commenced to avoid dilapidation of the newly built N6.5billion Wuye Ultra modern Market in the Federal Capital Territory, Abuja. The market which has 1,700 shops could not be used for business transactions after it was commissioned by President Goodluck Jonathan due to an order of the court in February 2014 issued in Suit No: CV/440/2012 and motion No: M/864/14 restraining the Federal Capital Development Authority (FCDA); All Purpose Shelters Limited and Abuja Property Development Company,

who are first to third defendants in the case “from allocating any of the office or offices in the market pending the hearing and determination of the substantive suit.” The market was built on 7.3 hectares of land under the Public Private Partnership (PPP) and Build, Operate and Transfer (BOT) agreement. The plaintiffs, numbering over 370, under the aegis of Wuye Ultra Modern Market Owners dragged the defendants to court to challenge the allocation of the market. However, the 3rd defendant in the matter, All Purpose Shelters Limited, in its amended statement of claim, prayed the court to dismiss the case of the plaintiffs and order the re-opening of the market for business.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Metro

Eid-el-Kabir: Commuters cry out over high transport fares

Stranded commuters at Berger

Camillus Nnaji

ommuters in Lagos, especially those travelling out of the metropolis for the Eid-el-Kabir celebration, are bemoaning the high transportation cost. The commuters, who waited anxiously under the rain and sometimes intense heat at different motor parks, expressed displeasure with the drivers and park managers who they said had taken advantage of the celebration to hike transport fares. Our correspondent, who went round some major motor parks over the weekend, spoke with scores of stranded passengers. At Berger bus stop, some passengers wondered why a journey from Lagos to Ibadan, which at ordinary time cost N300 or N400, was hiked to N2,000. A passenger, who gave his name simply as Adeleye, said he was going to Ibadan. He said: “I came out thinking that at most I will pay N600 or N700, now they have raised the fare to N2,000.” Another passenger at Ojota, Emmanuel Akpan, who said he was going to Ore in Ondo State to see his family, said the fare went up because many passengers were on the road. He said: “At ordinary time, I will pay

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

Commuters waiting for bus on Lagos-Ibadan Expressway

about N500, but they hiked the fare to N2,000. What can I do? I have to pay because passengers are many and I have to travel to see my family.” It was gathered that even short distance routes were not left out. From Berger to Mowe, which ordinarily costs N100, was raised to N500. Mowe to Abeokuta went for N1,000 against the normal fare of N400. When contacted, some of the drivers claimed that the gridlock on the expressways in and out of Lagos led to such increase.

If I go on this trip, I cannot come back to Lagos again today because of traffic

Commuters scrambling to board a commercial bus at Ojota

A commercial bus driver, who plies Berger to Ibadan, Mr Tunde Olowu, said it had become impossible to go on the usual number of trips. He said: “If I go on this trip, I cannot come back to Lagos again today because of traffic. The long bridge is blocked; people selling rams on the expressway have blocked the road at Kara. “The RCCG Youth Camp to Sagamu interchange is also blocked. We sometimes spend more than four hours in traffic, burning fuel. “When we increase the fare, it seems the drivers are wicked. But that is what we have to do to make enough money to pay the owners and have something for ourselves.”

Body recovered from Abuja collapsed building Yekeen Nurudeen Abuja

escuers yesterday recovered one body about 48 hours after a storey building collapsed in Jikwoyi, Abuja Municipal Area Council (AMAC) of the Federal Capital Territory (FCT). The body, a witness said, was that of an electrician working at the site. The recovery of the body followed several hours of rescue operation by the officials of National Emergency Management Agency (NEMA), the Nigerian Red Cross Society, and other agencies who have been at the

scene of the collapsed building since Friday. Five persons who were trapped under the rubble of the collapsed building were rescued alive on Friday. It was gathered that owner of the collapsed building, which was being used as a night club, bar and relaxation joint, Mr Joseph Meshack, a serving police officer, had been warned of the danger of raising the building because the original plan of the building was not for that purpose. The building gave away as a result of attempts by the owner, apparently with the intention of maximising the available space, to add another level to it without

carrying out necessary structural and engineering tests to ascertain the state of the structure. A witness, Mr Silas Simon, who runs a shop on the premises, said the storey building was built within three days. He said: “One of the mistakes both the engineer and the owner of the building made was to remove the bamboo used to support the decking. That singular act led to the collapse of the building.” Meanwhile, some of the traders have deserted the premises following a notice of demolition served on the remaining shopping mall in front of the building by the Department of Development Control.

10 Metro

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Worshipper dies after drinking pastor’s concoction LETHAL MIXTURE A man develops swollen head, eyes and dies after drinking a concoction during prayer session in Delta Dominic Adewole

ASABA

andemonium broke out yesterday at Ozoro, Ndokwa West Local Government Area of Delta State following the alleged sudden death of one Evi Samson in the hands of the Presiding Minister of the God Solution Ministry, Ozoro. The cleric, Pastor Jonathan Ojigbo, allegedly prepared a black concoction for the victim to drink. The concoction, it was gathered, reacted negatively in the

victim’s stomach. Evi was said to have developed swollen head and eyes in night, a few hours after drinking the concoction and died. The state Police Public Relations Officer (PPRO), Celetina Kalu, who confirmed the incident, said that one Samson Uwhemw of Erovie Quarters, Ozoro, raced to the police station in the locality to report the case. According to Kalu, the pastor, who doubles as the registrar of a Magistrates’ Court in the state, had engaged the victim in a prayer session before the dosage. She said: “The man (Samson) said the pastor gave his son a black concoction to drink, following which his son developed swollen head and eyes and died in pains. “On the receipt of the report, detectives swung into action and arrested the said Pastor Jonathan Ojigbo. The suspect claimed that what he gave the deceased was a bottle of coke.” She listed the items recovered, after searching the pastor’s house, to include some charms from his shrine

behind the church. Meanwhile, the body of the deceased has been deposited in the hospital for autopsy while discreet investigation into the matter has commenced.

Sulaiman Abba, IG

Father, son, others remanded for armed robbery Babatope Okeowo Akure

man, Mr Ayodeji Idima and his son, Smith, were among the five persons remanded in prison custody on the orders of an Akure Chief Magistrate Court for armed robbery. The men were also accused of attacking policemen carrying out their lawful duties. The three others remanded in prison custody for alleged armed robbery, cultism and prevention of police from their lawful duties at the weekend were Amedu Anuoluwa (20), Fauyi Olusola (34) and Adesua Adeyinka Vincent (48). The suspects, according to Mr John Mark, a Chief Superintendent of Police (CSP), were picked up on Thursday night when the police were on patrol around Oke-Ogba in Akure South Local Government Area of the state and charged to court the following day. Mark said the suspects attacked his men who were about to arrest two cult members and inflicted machete wounds on them. He said the two policemen sustained serious injuries and were receiving treatment at undisclosed hospitals in Akure, the Ondo State capital.

The charge, which was read to the accused stated, “that you Idima Ayodeji, Amedu Anuoluwa, Fauyi Olusola, Idima Smith, Adesua Adeyinka and others now at large on October 2, 2014 about 6.30pm at Oke-Ogba area, Akure in the Akure Magisterial District, did conspire together to commit felony to wit armed robbery and thereby committed an offence contrary to and punishable under Section 6(b) of Armed Robbery and Firearms (Special

Provision) Act R11, Law of Ondo State of Nigeria 2004. “That you Idima Ayodeji, Amedu Anuoluwa, Fauyi Olusola, Idima Smith, Adesua Adeyinka and others now at large on October 2, 2014 about 6.30pm at Oke-Ogba area, Akure in the Akure Magisterial District, armed yourselves with cutlasses, planks and other dangerous weapons did attack one Sunday Daniel and Stephen Momoh and inflicted serious head injury on them and dispossessed them of the sum of N78,000, one Gorgio Armani wristwatch valued N85,000, one gold necklace valued N65,000, one customised Chelsea shirt valued N12,000, one Nokia N7 phone valued N70,000, one Tecno handset phone valued N8,000, one Tecno IPad valued N65,000; total valued N383,000 and thereby committed an offence contrary to and punishable under Section 1(2)(a & b) of Armed Robbery and Firearms (Special Provision) Act, Cap R11 Laws of the Federation, 2004.” When the case was mentioned, the police prosecutor, Mr Isah Itanegbe, said the court had no jurisdiction and that the accused should be remanded in prison custody pending the time the case file would be duplicated and sent to Directorate of Public Prosecution (DPP) for legal advice. The court, presided over by Chief Magistrate W. A. Daomi, ordered that they should be remanded in prison custody until October 17.

Olokun festival will promote Yoruba culture, says Adams Shola Adefuwa

he chief promoter of Olokun Festival Foundation, Chief Gani Adams, has described Olokun festival as a ceremony designed to promote the Yoruba culture and tradition. Adams, who addressed a press conference in Lagos yesterday, said the yearly ceremony was also to extol the values of Youruba. He said: “When this festival started in 2002, it was like a mustard seed. I am happy to tell the world that the seed has grown into a big tree providing shade for several people all over the world. “We kicked off this year’s festival on October 2, with prayers at Oworonshoki. On October 16, we shall hold a lecture which will centre on research done on Yoruba people’s history, culture and tradition. “October 14 is set aside for Olokun Quiz Competition; prizes will be won and more schools are expected to enrol.” Adams added that the grand finale would be on October 24, at Suntan Beach, Badagry Celebrating Ologun goddess, according to him, does not mean the people are involved in fetish practices but they do so because of the importance of water to humanity which the goddess stands for. The Oodua People’s Congress (OPC) coordinator asked the government to promote places like Oke-Idanre, Oke-Ibadan, Olumo Rock, Zuma Rock and other important monuments to promote tourism in the country. Adams said the traditional rulers should see themselves as custodians of culture and tradition through such festivals as Olokun which would help bring their sons and daughters back home for economic development of their towns. He said: “The same applies to the Yoruba in the Diaspora. It is time they began to promote Yoruba culture and tradition wherever they are. They should as well provide funds for the monarchs to celebrate cultural festivals of their people.”

Adams

Bank, foundation offer free eye surgeries Cajetan Mmuta BENIN

idelity Bank Plc, through its Helping Hands programme, in conjunction with Africa Cataract and Eye Foundation, is carrying out surgical operations for those with eye problems in Ofunama community in Ovia South-West Local Government Area of Edo State. The Head, Midwest Region of the bank, Mr Emma Esinnah, said at the weekend that the Helping Hands scheme instituted five years ago, with a bottom-top approach, was to make life meaningful for the people.

He said: “Having seen that we are doing well as an organisation, we felt we should be able to do good. That was why our Helping Hands scheme was established about five years ago. In Helping Hands scheme, we adopt the bottom-top approach where the life of the common man is affected positively.” Esinnah explained that the bank decided to buy into Dr Okorodudu’s idea due to its profitability to mankind. Okorodudu, who is the founder of Africa Cataract and Eye Foundation, said that he had worked in Ofunama before, but felt drawn to it and that explained why he returned to the community. He said: “What we want to do is to bring specialist doctors into the creeks. Hopefully, someday, if

you give us the land, we will build a hospital here. What I am going to do is my usual work; to treat your eyes. “Let me use this opportunity to thank Fidelity Bank. What they have done is something I have always been looking for, someone to recognise and help with the work. They have agreed to sponsor a number of free surgeries for the community. ‘If I come to Ofunama and tell you that 100 people are blind, it means nothing, because every person gets blind alone, and suffers it alone. So when they told me they were going to help me with some surgeries, they didn’t know why I was very happy. If with their help we are able to make one, two, three people see again, that is massive.”

Metro

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Road crashes: FRSC takes campaign to worship centres

UNIBEN lecturer held for forgery as woman assaults VC Cajetan Mmuta BENIN

File picture of a road crash

Sola Adeyemo Ibadan

he Federal Road Safety Commission (FRSC) has taken sensitisation of road users to worship centres in Oyo State. The state Sector Commander, Sir Luka Ikpi, was at the Government House Chapel where he addressed the congregation. According to him, as part of its 2014 strategic goals, the FRSC has put in place machinery to reduce crashes on Nigerian roads by 15 per cent, and fatality by 25 per cent. He said: “The FRSC, Oyo State Sector Command, has designed a strategy of meeting road users in different religious centres bearing in mind that greater percentage of the people that use the road are either in the churches or in the mosques.” Ikpi told the congregation, being shepherded by Rev Canon Ezekiel Adeyemi, that many people got involved in avoidable crashes as a result of things that were seen as negligible. According to him, the command bitter is worried at the rate at which precious lives and property get wasted on

the road on a daily basis. He said: “It is necessary to note that the road is very patient, and it takes only patient and careful person to use it without problems. There are many people who get involved in avoidable crashes as a result of things that are seen as negligible. “It is worth noting that 85 per cent of road traffic crashes are as a result of human factor which can be avoided if we apply caution with carefulness.” Explaining the reason behind the casualty statistics in 2013, the sector commander said the FRSC engaged so much in enlightening commercial drivers and not much was done in reaching the individual road users. He said: “One of the ways to reach the individual road users is by going to worship centres to educate worshipers. This calls for the reason of deploying some officers and men to this church today.” According to him, the country records high rate of road crashes during the ‘ember’ months owing to high vehicular movements. Ikpi, therefore, called on passengers to always call the commercial drivers to order when driving recklessly on the highways.

Boboye Oyeyemi, FRSC Corps Marshal

He said: “These months are full of festivities: marriages, meetings, cultural festivities, sallah and Christmas, to mention but a few. It is the time that commercial drivers think of making it quick, thus drive with speed and dangerously to offload and load passengers.” The sector commander expressed the command’s readiness to partner with any religious centre to organise training programme to worshipers in different churches and mosques to deliver lectures on defensive driving techniques and other topics. The aim, according to him, is to reduce crashes involving private road users.

Son stabs mother to death Uwakwe Abugu Enugu

young man, Uchechukwu Ugwuozor, has allegedly stabbed his mother, Eunice Ugwuozor, in Ubiekpo Abor in Udi Local Government Area of Enugu State. The suspect, who is in custody, is helping the police to unravel the circumstances surrounding the murder. A police source said that the victim was asleep when her son attacked her with a knife and killed her instantly. The state Police Public Relations Officer (PPRO), Ebere Amaraizu, who con-

firmed the incident yesterday, explained the suspect initially absconded after committing the murder. He, however, said that police detectives later apprehended him while he was now helping them in their investigations. “On that fateful day, around 5am, the suspect identified as Uchechukwu Ugwuozor had allegedly gone to the bed where his mother identified as Eunice Ugwuozor was sleeping and stabbed her to death,” the police source said. The source added that the suspect was yet to disclose the reason behind his action. He said that Uchechukwu had abandoned the lifeless body of his

mother. However, a source close to the family said that the alleged murderer was linked to an unresolved psychological problem. Meanwhile, the body of the victim has been deposited at the mortuary of Our Saviour Hospital located at 9th Mile Corner, Ngwo, Enugu. Also at the weekend, some armed men suspected to be Fulani herdsmen laid siege to the new Enugu-Ugwuogo Nike-Opi Nsukka Road and robbed motorists and commuters. One of the victims said that the driver of the commercial bus she rode in was stabbed several times by the robbers who also assaulted many other Kalu passengers.

he police have arrested a lecturer in the Chemistry Department of the University of Benin (UNIBEN), Benin, Edo State for allegedly forging the signature of the institution’s chairman of the Academic Staff Union of Universities (ASUU). The suspect was nabbed for also forging the letterhead of ASUU and signature of the chairman of ASUU, UNIBEN chapter, Dr Anthony MonyeEmina, for alleged fraudulent activities. Operatives of the state police command have been on the trail of the suspect for the past one month. The suspect was said to have used the forged items to write a petition to the Minister of Education, where he alleged that Vice-Chancellor, Prof Osayuki Godwin Oshodin, was no longer fit to preside over the affairs of the university following his then health problem. He therefore called for the appointment of an acting VC for the university. Meanwhile, there was confusion at the administrative complex of UNIBEN, when a woman beat hordes of security to assault Oshodin, in his office. Oshodin was later rescued from the grip of the strange woman who wailed and asked the VC to reinstate her after she was sacked from the institution. It was gathered that police sent to the university queried security guards attached to the VC’s office complex and others on duty within the premises for breach of security. It was learnt that Oshodin was walking towards his office on Friday to meet waiting guests when the woman said to have been axed by the university authorities for alleged misconduct, held unto his trousers and screamed that she should be reinstated. The VC was shocked by the woman’s outburst. “The VC was shocked because he does not even know the woman. He is the head but there are disciplinary measures in different departments. “But people were even shocked that the woman breached security and entered the VC’s office to wait until he came out to meet with people,” a source said.

32-year-old fake soldier apprehended in Kogi Muhammad Bashir Lokoja

olice in Kogi State at the weekend paraded a 32-year old man, Mohammed Usman, for alleged impersonation. Usman, according to the Police Commissioner, Mr Paul Okafor, was posing as a corporal in the Nigerian Army and duping unsuspected members of the public with impunity. However, the suspect told journalists that he only snapped a picture with a military uniform. He said: “I got the uniform from a friend, who is a soldier. I never stole in my life. I used the uniform to snap pictures. “They came to arrest me in my house. The policemen that arrested me are all my friends. They come to my house regularly. We usually eat and drink together. But they came and arrested me for impersonation because they saw an Army uniform in my house.” Meanwhile, Okafor warned criminals causing unrest in the state to turn a new leaf or relocate from the state. The commissioner promised that his command would rid the state of criminal activities. He said: “Criminals will have no hiding place in Kogi State, as I have directed and warned all officers and men to go out and ransack every nook and cranny of the state, with a view to flushing out criminals and criminal elements in the state.”

12 News

MONDAY OCTOBER 6, 2014 NEW TELEGRAPH

Security agents, vandals clash in Ikorodu Juliana Francis

here was pandemonium yesterday at the Majidun area of Ikorodu, Lagos State, after some security agents stormed vandals’ hideout. Eye witnesses claimed the security agents, comprising operatives of Nigerian Army, Navy and Nigeria Security and Civil Defence Corps, (NSCDC) were shot at by the vandals. It was also alleged that the security agents, returned fire. An eye witness

claimed that a security agent was killed, but there was no official confirmation to that effect. It was further gathered that the agents stormed the creeks around the community, impounding several ferries loaded with petroleum products. Another eye witness said that he sighted some vandals who were arrested and later whisked away by the agents. The clamp down on the suspected vandals started at about 2am. A lady, Funmi, said

that most of the young men in the community, bolted, fearing they may be arrested for a crime they did not commit. She added: “Most of the perpetrators ran away, while some of them were arrested. Two days ago, I noticed that a helicopter hovered around here for five hours. Since then, I’ve been expecting something like this.” The security men did not only storm the scene yesterday armed to the teeth, they also came with a naval helicopter. It was also learnt that

the helicopter made an aerial sweep of the community before the men embarked on the massive arrests and combing of the area for gallons of fuel. “We really don’t know what happened, but we heard that soldiers and vandals were fighting. Some people even said vandals killed a soldier,” said a resident. “The altercation caused gridlock from Agric to Majidun as the uniformed men also ransacked motorists.” The security agents allegedly accosted some

commercial operators and passersby who also went to the creeks to collect fuel. Recovered gallons of fuel were offloaded from ferries into trucks. No fewer than five trucks loaded with petroleum products were recovered. NSCDC, Lagos spokesman, Mr. Mefor Chibuzor, confirmed the operation. He said the corps was alerted yesterday morning, adding that the security agencies would continue oppressing vandals until they desist from tampering with the pipelines.

Ogun State Governor, Ibikunle Amosun, presenting a trophy to the winner of the Poem and Quranic Recitation (Primary School Category), Faridah Jubril, during the Ileya Kiddies Party, organised by the wife of the governor, Olufunso, in Abeokuta… yesterday

Saraki blames FG over Ilorin flood Biodun Oyeleye Ilorin.

he chairman, Senate Committee on Environment and Ecology, Senator Bukola Saraki has lamented the failure by the Federal Government to complete the channelisation of the River Asa in Ilorin, Kwara State. He said it has led to the loss of properties worth millions of naira by residents along the path of the river. Contract for the work was awarded during the administration of late President Umar Yar’adua after a devastating flood in the metropolis but actual work did not begin until about three years ago. It was meant to enlarge the passage of the river which has many tributaries round the state capital. This year’s flood has affected residents at the southern end of the river where the project stopped but some of the residents claimed to have been informed by the contractor that the work has been completed. They have since been mounting pressure on the state government to assist them over the matter.

Again, PDP alleges plot to abort Ladoja: Accord’ll endorse best presidential candidate Fayose’s inauguration Sola Adeyemo Adesina Wahab and Temitope Ogunbanke

kiti State chapter of the Peoples Democratic Party (PDP) has once again raised the alarm of subtle plans to scuttle the inauguration of the Governor-Elect, Mr. Ayo Fayose, on October 16. The party has therefore written the Chief Justice of Nigeria (CJN), Justice Alooma Mukthar, alleging that the Ekiti State Chief Judge, Justice Ayodeji Daramola, is conniving with the outgoing governor, Dr. Kayode Fayemi, to execute the plan. The PDP’s claim came amid knocks from the All Progressives Congress (APC) to the Federal Government on what it described as the government’s tardy response to the brazen attack on judges in Ekiti State. In the letter titled; “Another judicial coup plotted to avert the swearing in of the governor-elect of Ekiti State,” signed by the Secretary, Dr. Tope Aluko and

the Publicity Secretary, Kola Oluwawole, in Ado-Ekiti yesterday, the PDP said it had it on good authority that plans were on by Justice Daramola and Governor Fayemi to give accelerated hearing to some suits challenging the eligibility of Fayose for the June 21 governorship election despite the Notice of Appeal and the Stay of Proceedings filed in respect of the suits. Fayose had challenged the assumption of jurisdiction by Justice Olusegun Ogunremi of an Ado-Ekiti High Court on the matter and also filed a Stay of Proceedings on the hearing of the substantive suit. “My Lord, on the 28th September, 2014, the Governor-Elect of Ekiti State, personally wrote a letter to you, the Chief Justice of Nigeria, raising fears about the attempts of the Chief Judge of Ekiti State to frustrate the swearingin of the Governor-Elect of Ekiti State, produced by our party. “This was done in view of Section 185 (2) of the 1999 Constitution of the Federal Republic of Nigeria (as

Amended), which empowers only the Chief Judge of Ekiti State to swear in the governor-elect as the new governor of the state, as Ekiti State presently has no Grand Khadi of the Sharia Court of Appeal, or President of the Customary Court of Appeal that can perform such function in case the Chief Judge decline to do so. Meanwhile, the Conference of All Progressives Congress (APC) state Publicity Secretaries (CAPS) has described Federal Government’s response to the attack on judges and the judiciary in Ekiti State as characteristically tardy and regrettable. CAPS in a statement signed by its chairman, Joe Igbokwe, and six geo-political zonal coordinators, noted that there cannot be any other explanation for the Federal Government’s response to the Ekiti State crisis, except that the Peoples Democratic Party (PDP) controlled Federal Government is interested in perverting justice in the state.

Ibadan

ational leader of the Accord party, Senator Rashidi Ladoja, at the weekend in Ibadan disclosed that his party has not adopted any presidential candidate for the 2015 election. He said that though the Peoples Democratic Party had endorsed President Goodluck Jonathan

as its flag-bearer, Accord has decided to keenly watch all parties’ presidential candidates and later align with the best. Speaking with journalists in Ibadan, Oyo State capital, the former governor said that the PDP reserved the right to endorse Jonathan as its sole candidate for 2015 presidential election, stressing that, “if the PDP generally believe that Dr. Goodluck Jonathan should be their sole

candidate and they endorse him, they are exercising their fundamental rights under the constitution of this country. “Also if All Progressives Grand Alliance (APGA), follow the step of PDP by endorsing Jonathan as their presidential candidate, they reserve the right to do so under the constitution. From another point of view, APGA at the end may join PDP if they so decided,” he said.

Jonathan visits Lagos, meets Obanikoro, Agbaje, stakeholders Wale Elegbede

s Nigerians continue to await the second term declaration of President Goodluck Jonathan, the president yesterday in Lagos, had a private meeting with Peoples Democratic Party (PDP) gubernatorial aspirants and stakeholders in the state. President Jonathan, who was in Lagos two weeks ago to attend the PDP South West zone rally, where he was en-

dorsed, met with party big wigs led by Chief Olabode George. Although details of the meeting held at the State House, Marina, was still sketchy as at press time, sources at the meeting confided in New Telegraph that it was connected with the 2015 election, and how the party in the state should co-ordinate itself for the election as one indivisible fold. The PDP, which at one time or the other had been at the helms in all of the

six states in the South West except Lagos, has vowed to wrest the state from the ruling All Progressives Congress (APC). With over 11 aspirants already jostling to pick the party’s ticket, the race for the flag bearer of the party has been narrowed between pharmacist-turned-politician, Mr. Jimi Agbaje and the Minister of State for Defence, Senator Musiliu Obanikoro, who is expected to resign from the federal cabinet soon.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

54 years after Independence

Nigeria’s political leaders have failed –IBM Haruna

16, 17

Politics 2015: Ndigbo at crossroads

over Jonathan’s endorsement FELIX NWANERI writes on the hurried endorsement of President Goodluck Jonathan for the February 14, 2015 election by some political leaders in the South-East, which has put the zone in a disadvantaged position for meaningful political negotiation with the ruling party

Jonathan

he ruling Peoples Democratic Party (PDP) may be in for a shocker if it banks on the purported endorsement of President Goodluck Jonathan for a second term by the South-East, as the Igbo apex socio-political group, Ohanaeze Ndigbo seems to be at crossroads over the issue. Ohanaeze has not officially endorsed Jonathan’s re-election but its pronouncement that the Igbo nation is not pursuing any presidential ambition in 2015 sent the signal that the people of the zone will back the president like they did in 2011. President General of Ohanaeze, Chief Gary Enwo-Igariwey, while speaking in Abuja last month after an

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

enlarged meeting of the group with leaders of Igbo organisations from the 19 Northern states and Abuja, had said that Ndigbo are not looking at the presidency in 2015. “We are not looking at Igbo presidency in 2015. Our decisions would be made known at the appropriate time,” he said. While the Ohanaeze leader was not categorical then, the position of Ndigbo became clearer at the just held 20th convention of the World Igbo Congress (WIC) in Houston, Texas, United States. It was at the conference that Ndigbo officially endorsed the president for a second term over his several accomplishments in the South-East, particularly road projects since he came to power. A communiqué issued at the conference attended by Ndigbo at home and the Diaspora, read in part: “Congress is impressed by the superfluous rendition of the accomplishments of Dr. Goodluck Ebele Azikiwe Jonathan despite opposition-induced challenges.” The South-East endorsement of the president started last year when some political leaders in the zone led by billionaire businessman, Prince Arthur Eze and the then Anambra State

Igariwey

governor, Mr. Peter Obi, told Jonathan during his visit to the state that since it is constitutional for presidents to take two tenures of four years each, he should not short-change himself, or disappoint his supporters by refusing to go for another tenure with an assurance of support from the zone. “Former President Olusegun Obasanjo took eight years; we are calling on you to take another four years as one term is too short for you to finish the job you have at hand. You can consider giving power to the North after your eight years, so that they will return it to the South-East after their own eight years,” Eze said. Obi, who spoke in like manner, also assured the president that he will get the backing of Ndigbo if he decides to go for another term to complete his work. He added that the president is very much loved by the people and that they do not regret voting for him in the 2011 elections. Dissenting voices Whereas it is common for individuals or groups to endorse candidates of their choice ahead of elections, analysts are however of the view that the

president would be getting it wrong, if he was convinced that he has the backing of Ndigbo going into the election, given the various endorsements by individuals and groups in the zone. This is because some South-East leaders have dismissed the support, saying that it is not the collective resolve of Ndigbo. To them, Ndigbo have nothing to show for the massive support they gave to the president in the 2011 polls, and as a result, there is need to ponder before taking such step again. They also reasoned that the early rush to endorse the president, who is yet to declare his intention, is a clear indication that Ndigbo are yet to learn any political lesson from past experiences. According to them, with the North insisting on the presidency in 2015, it is evident that the forthcoming election will be a hotly contested one, and all rules of decorum are likely going to be jettisoned. How prepared are Ndigbo for this anticipated battle, and what would be their fate in the aftermath, given the discordant tunes coming from the South-East at a time other zones are eiCONTINUED ON PAGE 14

Politics

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

C O N T I N U E D F R O M PA G E 1 3

ther consolidating on already held positions or negotiating new ones. “While Ndigbo are not at war with Jonathan, there is absolutely no reason at this time to endorse him or any other politician for the 2015 elections,” a chieftain of Aka Ikenga, an Igbo think-thank told New Telegraph . Chairman of the United Progressives Party (UPP), Chief Chekwas Okorie, an Igbo, berated the Ohanaeze leadership for endorsing Jonathan, saying it is a betrayal of the Igbo nation. Speaking at the party’s recent stakeholders meeting in Enugu, he described such arrangement as unfair to the Ndigbo. “It is heart-rending, unkindest thing I have ever heard in my 38 years of active involvement in Igbo rights crusade. No Igbo leader occupying the exalted office of president general of Ohanaeze Ndigbo has gone this far in betraying the Igbo people,” he said. He added: “Ohanaeze Ndigbo was designed as a non-partisan socio-cultural pan-Igbo organisation, for propagation, promotion and preservation of Igbo cultural heritage, education, economic and welfare of Igbo people in Nigeria and the Diaspora.” Ohanaeze recants Apparently to save itself from the embarrassment over the hasty decision, EnwoIgariwey, last week debunked claims that Ohanaeze had adopted Jonathan or anyone else for the forthcoming presidential election. He made the clarification at the post-Igbo Day 2014 press briefing held in Awka, Anambra State. According to him, Ohanaeze is still making consultations on the issue of 2015 presidential election. “The main Ohanaeze has not made any statement on the adoption of any candidate for 2015 and that is the truth. Nobody can quote me as having said so,” he said. He added: “The last interest shown by some people was when I was asked what plan Ohanaeze had for 2015 about Igbo candidate for 2015 and my answer was that Ohanaeze did not have a programme for Igbo president in 2015. I left it there. For obvious reasons, I didn’t want to be seen to have jumped the gun, we have our usual way for adoption of candidate; it is usually by consultation with all major Igbo groups, organisations and stakeholders. It is also in consultation with the SouthEast Council of Traditional Rulers and the Ime Obi Ohanaeze, we have not done this. “The consultations are ongoing and until we are through with the consultations, it is not for me as an individual or as an organisation to make such statement without clearance. So, we hope that at the appropriate time and that time will soon come, we would have made the consultation and I would have had the proper mandate to make that kind of statement.”

Obi

Okorie

Twists and turns of Jonathan’s endorsement On claims by some Igbo leaders that the South-East has not benefited in terms of infrastructure from the Jonathan administration, the Ohaneaze boss said: “I did not share the view that he has done nothing, but I share the views on the state of our roads, when we visited him, we made some observations and they are part of the consultations. We need to sit with the President and review some of the issues, but all the same, we feel he has done a lot for us.” APC reacts The South-East chapter of the APC, in reaction to EnwoIgariwey’s clarification, commended the Ohanaeze for avoiding the issue of the adoption of President Jonathan as the Igbo candidate in 2015. The party through its spokesperson, Osita Okechukwu, said it was excited that despite the intense pressure on it, the Igbo group refused to discuss the matter. “For this noble act, we salute the Ohanaeze Ndigbo leadership for abiding by the old African maxim that it is very dangerous to put all our eggs in one basket, a mistake which the late Ambassador Ralph Uwaechue-led Ohanaeze leadership made in 2011,” Okechukwu said. The party said it was of the view that Ndigbo should think out of the box, embark on introspection and do soulsearching before supporting again the same president who, it alleged, had failed to honour the promises he made to the people. The party added that it was glaring that most federal roads in Igbo land were death traps, thus halting economic activities, and the Second Niger

Bridge may be dead on arrival, as Julius Berger had not been able to source the fund for the execution of the project.

It is heart-rending, unkindest thing I have ever heard in my 38 years of active involvement in Igbo rights crusade. No Igbo leader occupying the exalted office of president general of Ohanaeze Ndigbo has gone this far in betraying the Igbo people

What next? While alignment and realignment is still open till the elections, unfolding events in the polity indicates that Ndigbo may reconsider their endorsement of the president’s second term bid. A source within the Igbo apex socio-cultural body who revealed this in a chat with New Telegraph , said the rethink is over non-fulfilment of several promises of the administration to the zone. The source, who pleaded anonymity because of the sensitive nature of the issue, told the newspaper that Ndigbo are not happy with the way they are being treated by the Jonathan administration, especially in the area of projects execution, wondering why Ndigbo will just rush to endorse the president for a second term without any form of negotiation He said: “Jonathan’s presidency was made possible by Ndigbo in 2011, but we are likely to reconsider our position on his re-election bid because he is yet to fulfil his campaign promises to us, which include the construction of the Second Niger Bridge; construction of the Onitsha-Enugu Expressway and Enugu-Port Harcourt Expressway. “As we speak, nothing shows that the Second Niger Bridge is going to be done, it is all about politics. We supported the President in 2011 to prove to Northern political leaders that their campaign that Ndigbo always want to dominate their South-South brothers is nothing but a divisive tendency. If we have done all these for him, the question then is; what is

our own?” On the next move by the South-East, he said: “I will confirm to you that an underground meeting is going on at the moment among Igbo political leaders. Those behind the plot are even following the president around. They are not happy with what is going on and are likely to dump his campaign train any time from now.” He added that as it stands, Ndigbo are ready to throw their weight behind any party that gives them its presidential ticket, advising Imo State governor, Rochas Okorocha not to give up on his bid for the APC presidential ticket. His words: “Let the APC give Okorocha its presidential ticket, and you will see how we will shake Jonathan. If Okorocha wins the APC primaries, he will get our support, but we won’t accept a vice presidential slot.” The source also revealed that former Vice-President Atiku Abubakar has reached out to Ndigbo, who have asked him to get his party’s ticket first, as they cannot continue to follow Jonathan when they have not been compensated for their votes for him in 2011. While the hurriedly taken position to back Jonathan, no doubt, will put Ndigbo in a disadvantaged position to negotiate with either the ruling party or even the opposition, the consensus among stakeholders is that power shift and the emergence of a national twoparty structure have triggered a process of re-alignment of political interests, which will anchor Nigeria’s ruling formations for the foreseeable future, and that Ndigbo must effectively key into this dialectical process now, or continue to be sidelined.

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16 Politics

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Nigeria’s political leaders Gen. Ibrahim Bata Malgui Haruna (rtd) is a former Federal Commissioner of Information and Culture during the regime of Gen. Olusegun Obasanjo. In this interview, the septuagenarian relives his memories of Nigeria’s independence 54 years ago. The onetime chairman of the Arewa Consultative Forum (ACF) spoke with ONWUKA NZESHI on how the dreams of the founding fathers of Nigeria to build a great nation have been frustrated. Excerpts: Where were you on October 1, 1960? I was in England as an officer cadet at the Royal Military Academy, London and we had a parade to commemorate our independence. The rest that happened in Nigeria, we watched it as films. At that time, there were many Nigerian officer cadets and other military personnel who happened to be there for training in England and we all converged at the Nigeria High Commission to celebrate our independence ceremony and make our own contributions. What was the atmosphere like in London, the seat of colonial masters? Well, we jubilated. We were happy even though we felt we were following the footsteps of Ghana and we were the big country that ought to have taken the lead for the continent in terms of securing independence from the colonial masters. However, we were jubilant and we had high hopes. We had been very critical of colonial rule and we felt that the independence was an opportunity given to us to march on to become, hopefully, a great nation. Like our colonial masters were a great imperial nation, we wanted to be a great African nation. We heard of the challenges of what was happening then in Arab countries like Egypt, there was also South Africa and the challenge of racism and we had our own taste of how racism worked in England. Our hope was that we would grow a nation where we would be equal and be able to face the challenges of civilisation across the world and lead the new conscience to a stage where other colonised nations would be free, apply merit in every opportunity they have; to acquire knowledge, to be employed and practice their professions. Now 54 years down the line, what has happened to those high hopes? Do you think that the goals of independence have been achieved? Well, we have achieved a great deal, but the goals of independence were the goals of creating a viable, powerful African nation that would be fully developed and civilised to confront those challenges that we had at the onset. These are the challenges of leadership on the continent. But many things have happened that can cheer us up. For example, racism has been defeated in South Africa; we participated in furthering democracy in Tanganyika (Tanzania); we supported the liberation of other nations; we intervened in the Congo crisis, I was personally there in 1961 with the 4th Division of the Nigerian Army.

Haruna

So, as a nation, we have made our contributions to African countries and to world bodies such as the United Nations (UN) and United Nations Educational, Scientific and Cultural Organisation (UNESCO). We are proud to say that we did these things as an independent nation and not as a subordinative colony. When we fought in the First and Second World Wars, we were doing it for and on behalf of our then imperial masters. But we have come a long way on our own. We have our Army, we have our Navy, Airforce, Police, Civil Service, universities and dons. So, we’ve come a long way on our own. But that is not to say that we have attained all that our founding fathers had hoped for at independence. The challenge of knitting the fabrics of the country’s multifarious ethnic cultures to one is a continuous factor. Of course, we have had conflicts or crises; we have had the civil war and now terrorism and insurgency. Before now we have had the breakdown of confidence in the electoral system but we are weathering the storm and I am sure that our youths of today are hopeful, enthusiastic and keen to make their contributions and to unite themselves as Nigerian citizens. Maybe, I can say that we have handed the baton to the worthy successors who are today graduates in various disciplines. We didn’t have the privilege of being graduates at our youthful age. I went to study law after I had retired as a General but today, in all walks of life including the Armed Forces, you have highly qualified manpower. Unlike the colonial times, our soldiers are literate. So, I believe that in any respect, the nation has made some giant strides. But since it’s a giant, the stride is still very small compared to its potential. Some people feel there is nothing to celebrate about Nigeria given the poor state of our infrastructure, flawed elections and the current insecurity. Don’t you see any problem in the way the country is today?

Why did we have poor leadership? It is because we didn’t have institutions that will teach our leaders and tell them what to do. The bottom line is that we cannot ignore the need to groom our leaders and make them imbibe the right ethics for good governance

Well, many people who say these things and dwell so much on the negative side have not asked themselves some pertinent questions. Where are the roads built by the colonial masters 54 years ago? I don’t see them. The ones I see today were built by us. Where are the polytechnics, universities, teaching hospitals existing before 1960? Many of these institutions that we see today were built by us. Where is social welfare that we talk about? In unison, we are making demands on the Nigerian state for better life for our people. Fifty-four years ago, we were all working for the imperialist government to service their factories and industries with primary raw materials – cocoa, rubber, groundnut, cotton, palm oil, etc. We didn’t have factories to make clothes (textiles) and yet we had cotton. But today we can boast of having factories even though they have become dormant due to poor leadership and non-sustainability of our economic policies. But we are managing our economy, which was then not ours. We have our Central Bank and we have our currency. Yes, one could say that we have not managed the growth of our agriculture to sustain our domestic needs. This stunted growth came as a result of our lack of concert for the objectivity which leadership must sustain. But we can say today that we are cohering, we are making progress in terms of getting the concert of our leaders to see beyond the very narrow perspective of either their ethnic or family goals. We are gradually shedding off discrimination against one another and we are beginning to establish some standards for merit and to give merit a chance in all spheres of life. We are setting standards in various fields of endeavour. My belief is that nations do not just emerge; they grow. England, Wales, Scotland and Ireland grew over time. They had differences but they have sustained their unity as a United Kingdom for many years. They have put to test whether it is still sustainable through a form of democratic mandate.

Politics 17

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

have failed – IBM Haruna Do you think that Nigeria should also go for a referendum to determine whether we should continue to live together as one? The issue is this: England, Scotland and Ireland have come a long way in developing their civilisation for over 300 years. Here, we are talking about 54 years. The underlying consideration that would make people express a viable view does not exist here. We have not correctly and truly determined our population through registration of births or deaths. We are still building a conscience of people who can determine right from wrong, equity and justice on the basis of principles not on the basis of prejudices such as: they are Christians, we are Muslims; they are Southerners, we are Northerners, they are Easterners, they are Westerners. Only years ago, we brought you down from the mountains and clothed you and so on and so forth. These prejudices must give way to rational and logical thinking on issues on the basis of equal humanity. We are not there yet. You see how distribution of polling units is raising controversy. Already there is an inbuilt suspicion and bias that there is a desire by somebody to take advantage of his position to favour a section of the country. That is because the fundamental factors are not themselves credible So, I think we are managing things according to our perception of conscience. We are trying to manage these things so that we can defeat these primordial sentiments and discrimination. We have to build on what we have by bringing our level of understanding and civilisation higher which we cannot get until we have established a coherent educational system. To me, what we have now is incoherent. The President has just handed various national honours to 305 Nigerians. What are your thoughts about these awards, which some critics say, had always gone to those who do not deserve them? I think those criticising the national honours are justified because there is always going to be an imperfection in judging people’s eligibility for the awards. First of all, who is doing the judgement and on what basis are they identifying the awardees? What is the optimum number? So, whatever you do in our circumstances, you will not be perfectly right. Sometimes, I ask myself that having done all the things I have done then, did I not deserve a national honour? If you read the histories of other countries, their war generals are honoured but years after I retired, it was President Shehu Shagari who gave me recognition of a national honour. I think it was by accident; I happened to be the chairman of the Nigerian Institute of International Affairs (NIIA). It was purely by accident. I didn’t think I merited it because I was a soldier who was a rear Commander First Division, substantial Commander Second Division, principal this, principal that, worked with Yakubu Gowon and we all got a successful execution of the Biafran civil war to sustain one Nigeria. I did not get it because I did all that, but I read histories of countries where generals that commanded their troops and then became heroes were honoured. Only recently, a colleague of mine, Brig.Gen. Benjamin Adekunle passed on. To me, he was our greatest civil war hero. I don’t think that Adekunle got a national honour that I know of and I don’t think he had a national recognition of any kind as a Nigerian civil war hero. I think that there is some kind of twisted appreciation of endeavours and honour in this country. Most times we blame the woes of the country on leadership. From your experience, is

I don’t think that Adekunle got a national honour that I know of and I don’t think he had a national recognition of any kind as a Nigerian civil war hero. I think that there is some kind of twisted appreciation of endeavours and honour in this country

there any difference between the leadership of today and the leadership we had in the early days of our independence? The leadership of the past were identified as people whose commitment to leadership coincided with the hopes and aspirations of their people. At that time, “their people” were circumscribed by the knowledge we had of one another. The North did not know much about the South; the South did not know much about the North; the East did not know as much as they ought to and likewise the West. Each of these regions did not have adequate knowledge of the others in a manner that they were all citizens of one country. So, legitimately, we had leaders who were like lawyers defending their own against the others perhaps from their limited objectivity. But the leaders that succeeded them had a higher horizon to challenge their predecessors. At least after the civil war, the leaders ought to have known that legitimacy, viability or credibility as a leader is not to stand on the high pedestal as the champion of one ethnic group or the other but as a citizen and a Nigerian leader not fortified by the fact that you are sourced from one ethnic group or one dominant literate and enlightened zone. Circumstances have changed the requirements and the direction which leadership should go. Our leadership should be by a Nigerian for Nigeria not a Nigerian who serves the imperial world in their different colours and institutions. What do you think the leadership of today can do to take Nigeria to where we truly ought to be? The leadership of today has good blueprints. Transformation Agenda is good. Seven-Point agenda is good. Eight-year development plan is good. Four-year development plan is good. Rolling plan is good. But have you developed the capacity to implement those plans and to build on them? If you are always drawing up plans and abandoning them to start all over again, then you will remain perpetually at ground zero. I am sure that several conferences, several investigations, several reports have laid down what we need to do. If these blueprints are implemented sincerely and sustained, we will not be in the kind of chaos we seem to be under successive leadership in our country. Do you think we have managed our economy

Haruna

well 54 year after we gained our freedom from the colonial masters? One thing I think we should admit is that the colonial economy was not our economy. We were being used to source materials for the metropolitan colonial masters. The extent to which we benefitted was much the same way slaves were taken away to go and sustain the growing economy in other lands. But after independence, we had a chance to identify our resources and improve on them to earn foreign exchange. We sustained our own economy by producing for our needs. But we did not manage it properly, hence we ended up importing cocoa produce, rice and many other things that we grow and could have produced locally. So, it is this same planning and retracting. We tried to assemble vehicles including trucks and tractors but down the line, we abandoned it. We had large cotton farms and textile factories. People were employed, fabrics were being produced but we ended up not sustaining this sector as well. We are now importing at a high cost fabrics from other places like China which we can produce at a low cost. We must admit that we tried to build our own economy but didn’t have the courage and tenacity to sustain the efforts. Look at Ajaokuta, a project with great dreams that was meant to supply iron rods and other metals for building. Down the line, all the investments went down the drain. Some of the functioning parts and equipment were even sold. Haba! We have to remain committed and if it requires making it a law that any leader who diverts from our fundamental and strategic development plans is committing a crime against the country, let us do it. There should be certain arterial and strategic development projects that must be implemented to their logical conclusion once it is agreed to be the basis of our industrialisation, technological development and the growth of our economy. If we can do that for a number of years as was conceived in the development plans in the early years of our independence, we would have gotten somewhere by now. We should be looking at why these plans crumbled. They say it is poor leadership. Why did we have poor leadership? It is because we didn’t have institutions that will teach our leaders and tell them what to do. CONTINUED ON PAGE 20

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Opinion

Still on lessons of Scottish vote (1)

Okechukwu Emeh, Jr

fter the much-heralded referendum on September 18, 2014 to decide whether Scotland should remain part of the United Kingdom (UK) or be an independent country, the “No” vote won the race with a fairly large margin, thereby settling for now the status of the UK as a great multinational state with England, Scotland, Wales and Northern Ireland as the component provinces. In truth, the rejection of separation by many Scots was a triumph for the centripetal forces of multiculturalism and unity over the centrifugal forces of insular culture and fragmentation. It would be recalled that before the Scottish vote, there were widespread fears and anxieties about the outcome of the event not just for Great Britain but for other plural political societies with separatist or secessionist ethnic nationalities and cultures. Politically, a “Yes” vote by a large majority of Scots would have shaken the country to the core by resulting in a chunk of its territory being exercised, alas making it a kind of Lesser Britain. And this would have come with the dire prospect of Wales and Northern Ireland opting to be out of the union. Apart from redesigning its iconic union flag (the Union Jack), which currently incorporates Scotland’s cross of St. Andrew, the Saltire, a vote for Scottish selfrule would have made the UK to lose its international clout and prestige as a world power. The economic implications of a “Yes” vote would have also been daunting, as the country would lose the North Sea oil and gas and manufacturing and shipping industries that are at the hub of Scotland. In terms of defence capability, Britain would have been impelled to withdraw its Trident nuclear weapons on the Clyde, which is within the territory of that separatist province, alongside losing the famous Scottish regiments and battalions highly needed for military and diplomatic interventions in many of the world’s trouble spots. Independence for Scotland would have also made the

multinational state to leave the European Union (EU) it reluctantly joined on account of its continued opposition to currency union in order to maintain its ever stable pound sterling. Other member states of the EU beset by ethnic nationalism like Belgium, Spain, France and Italy would have followed suit if they failed to veto Scottish membership, as they would be disinclined to see a struggle for secession rewarded. For complex and diverse national societies around the world like Russia, Canada, China, India, Pakistan, Myanmar, Indonesia, Iraq, Nigeria, Ethiopia and Democratic Republic of Congo, a Scottish exit from the UK would have sounded a wake-up call to their restive regions to inject momentum in their struggle for greater autonomy or even independence. With Scotland’s referendum on statehood won and lost, it is hoped that the British people would leave the emotions surrounding the event in months of spirited and somehow divisive debate behind them in order to forge ahead as a nation state with a sense of common identity. However, in these perilous times of the Post-Cold War order when the twin problems of ethnic nationalism and religious fundamentalism are increasingly nudging to undermine tolerance and peaceful coexistence in many multinational societies, the lessons of that referendum cannot be swept under the rug. One lesson of the Scottish vote is that the struggle for national self-determination – a major factor informing national question in different parts of the globe – can be channelled away from violence and bloodshed through democratic process. In retrospect, Canada used this process in 1995 to decide the bid of French-speaking Quebec for independence, in which a reasonable majority of voters in the region opposed secession. But the compelling cases of the UK and Canada have no parallel with the Russia-inspired plebiscite in the Crimean peninsula (with a Russian-speaking majority), which subsequently led to the annexation of that part of Ukraine in the manner of the Nazi Germany’s seizure of Austria and the Sudetenland in 1938-39. The same is with that of eastern Ukraine (in the regions of Donetsk

and Luhansk), where pro-Russia separatists voted for independence early this year – an action that was not only widely condemned but has morphed into a bloody civil war. Many international watchers have interpreted the referenda conducted in Crimea and eastern Ukraine as a subterfuge or pretext by apparently adventurist and revanchist Russia, under President Vladimir Putin, to undermine the territorial integrity of its neighbour in the Caucasus for refusing to kowtow to its political whims and caprices – just as it did in Georgia in 2008, where it instigated the secession of Abkhazia and South Ossetia. In the case of the referendum in Scotland, it was conceded by the British government following the overall majority of the pro-independence Scottish National Party (SNP), led by Alex Salmond, during the region’s parliamentary election in 2011. Apart from making Salmond, who was also the leader of the Separatist Yes Campaign the first minister of the province, that electoral victory also fuelled political demands of ethno-nationalists. In the face of such demands, the Scots were given the freedom to decide their future and convictions were made for and against independence by Separatist Yes advocacy campaigners and those of Better Together (or Unionist No). The Unionist leaders, including David Cameron (the Conservative prime minister), Ed Miliband (leader of the Labour Party) and Nick Clegg of the Liberal Democrats, in a clear display of the spirit of the guardian class in the midst of unprecedented national challenge, had advanced cogent reasons to persuade the Scots to reject quitting the UK. Apart from the binding ties of families, shared values, solidarity and liberal democracy, they also cited factors like currency, trade and support for the banking system as part of the basis for the union to remain together. The Westminister (or the British Houses of Parliament) also made concessions to the Scottish people, including further devolution of power, tax-raising powers and strengthening of their welfare system. •Emeh, a social researcher, wrote from Abuja. 08036895746, okemehjr@yahoo.com

Teachers as miracle workers Tayo Ogunbiyi

ince 1994, the World Teachers Day has been celebrated by UNESCO every October 5th, to mobilize support for the teaching profession across the world. Without doubt, teachers are worthy to be celebrated in view of their role as moulders of future leaders. To underscore their role as initiators, every major attainment in the world could be traced, either directly or indirectly, to teachers. This is because each of the world’s greatest achievers attained the feat because they were once motivated by their teachers. Tosay that teachers have an enormous role to play in the education of not only students but the entire nation is to belabor the obvious. In taking care of pupils and students put in their care for a considerable number of hours on a daily basis (it has been discovered that students/pupils spend a greater proportion of their day under the watchful eyes of teachers), they act proxy parents. By helping to shape the destinies of numerous children, they perform the task of social workers. A teacher could equally be likened to a miracle worker who is well schooled in the art of helping a student to discover his/her untapped potentials. Whenever the innate but largely hidden potential of a student comes in contact with the therapeutic skill of a teacher, a

miracle occurs. Teachers hold the key to the future since they help to mould future leaders. They don’t just teach, they are also critical personalities who nurture the young folks to mature, to understand the world and to understand themselves. The education of a child involves a total development of personality and this means that the human element of improvement is essential. This is something that can only be done by the teacher. In the words of famous rabbi and scholar of Judaism, Jonathan Sacks, “when teachers open our eyes to the world, they give us curiosity and confidence. They teach us to ask questions. They connect us to our past and future. They are the guardians of our social heritage…Life without a teacher is simply not a life”. In a world that is daily confronted with swift social changes, sometimes inexplicable crisis and bizarre natural occurrences, teachers remain the most constant bastion of hope. In line with the theme of this year’s World Teachers’ Day, “invest in the future, invest in a teacher”, every investment in teachers is one that is worthy of every penny spent. A society that refuses to invest in teachers will only be promoting ignorance. And ignorance, in its nastiest manifestation, breeds all manners of social ills. Ultimately, the price that a nation might have to pay for encouraging ignorance almost always exceeds what it needs to do to uphold education. This is

why every nation of the world must fully come to terms with the need to further enhance the competence of teachers at all levels. It is in doing this that the critical issue of nation-building, especially in Third World countries, could be effectively tackled. In other words, building in a nation without first building teachers would basically amount to chasing shadow. The occasion of the 2014 World Teachers Day is, therefore, quite timely as it offers a vital opening for all stakeholders to reflect on the state of teachers across the world. In our country, in particular, this is the time to go beyond paying lip service to capacity building for teachers. Concerted efforts should be made by appropriate authorities to improve the working conditions of teachers. A situation where teachers are hired by some private schools as cheap labour should be utterly discouraged. You can imagine a graduate teacher receiving an amount as miserable N15,000 as salary in 21st Century Nigeria. When considered alongside the fact that teachers, especially those that operate in private schools, don’t usually get paid during holidays (especially long vacations) not to talk of being insured for the future, then the despondent situation of teachers in the country would be appropriately appreciated. A nation that toils with the wellbeing of its teachers inadvertently puts its own future in serious jeopardy. Without putting in place the proper machinery to improve the working condition of teachers, all efforts to

bring about the realization of the national mass literacy project would simply go down the drain. Consequently, the successful execution of the mass literacy project could only be made possible with the active participation of a well-motivated, properly trained and competent teaching force. Appropriate governmental and non-governmental organizations, therefore, need to intensify efforts towards developing the competence of teachers across the country. Perhaps, the most convincing approach to deal with the numerous problems we face in our dear nation is to urgently attend to the waning fortune of teachers in the country. As much as we try, poverty, disease, religious fanaticism, political chaos, ethnic bigotry, gender discrimination, economic depression among others, could only be effective confronted with the assistance of proficient and loyal teaching personnel. It is, however, important that teachers, particularly in our nation, continue to uphold the integrity and dignity of the profession. A situation where teachers get involved in unimaginable acts capable of denting the image of the profession is, to say the least, unacceptable. The teaching profession, the world over, is a noble vocation. Ours must not be an exception. No nation desirous of making meaningful progress could survive with a mediocre teaching workforce. •Ogunbiyi is of the Features Unit, Min•istry of Information & Strategy, Alausa, Ikeja.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

EDITORIAL

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Before the new national carrier starts flying

f reports are anything to go by, Nigeria’s dream of having a new national carrier may soon materialize. In an interview with Bloomberg TV Africa recently, aviation minister Osita Chidoka said Nigeria would spend some $2b over the next four years to float a new national carrier and rebuild its airports to meet international standards. Although he did not disclose the name of the new company, the minister said the carrier would start operations with an initial take-off grant of $1 billion while another $1 billion was expected to be spent over time to rebuild old airport terminals and construct new ones, including13 cargo airports for the export of perishable agricultural produce such as pineapples, mangoes and tomatoes. He said the government might engage the British Airways to recommend strategic partners for the proposed national carrier. “The government wants to start a national carrier within the same period (as the airports reconstruction is going on) to tap the growth (in the sector). It will be commercially run. Nigeria is studying the possibility of attracting private capital to do that,” he told Bloomberg. Nigeria has been unable to sustain a national carrier since

it liquidated Nigeria Airways in 2003 and replaced it with Virgin Nigeria, a joint venture in which Richard Branson’s Virgin Atlantic Airways Limited originally held a 49 per cent stake. The airline was to change its name to in 2010 after Branson pulled out and businessman Jimoh Ibrahim bought over the business. But, barely two years later, Air Nigeria ceased operating altogether. Today, Lagos-based Arik Air Ltd., a privately-owned airline, is Nigeria’s largest carrier with 26 aircraft. Is a new national carrier desirable? This is the nagging question that is begging for an answer. Hitherto, the government had declared that based on emerging global trends, it had no business in business. Indeed, if Nigeria Airways were still in existence, it would have been privatized. And, come to think of it, Nigeria Airways failed principally because of government’s interference? So, in the light of the not-too-palatable experience with Nigeria Airways as a government-owned business, will this new initiative be another full-fledged government business? Or will government simply support private-sector players by creating an enabling environment for investment? Government must answer this question so as to clear whatever doubts

exist in the minds of citizens as to the desirability or otherwise of a new national carrier. Again, this brings to the fore the way and manner assets of the defunct Nigerian Airways were cannibalized and frittered away. Government needs to re-interrogate that process, as much to find out what actually happened as to see if there are things that could be salvaged from the ‘wreck’ and put into good use for the proposed new national carrier. We want to assume that the government knows what it is doing. For, who says Nigeria does not need a national carrier? However, we hasten to advise that every effort must be made to avoid the loopholes inherent in the business model of the defunct Nigeria Airways. We need to study the models on which of some successful African national airlines such as South African Airways, Ethiopian Airways, Kenya Airways, Rwandan Airways, among others, are run with a view to seeing what we can apply from their experiences to make a success of the proposed new national carrier. The fulcrum of air transport development centres on a national carrier, which could be private sector-driven or fully government-owned, like Africa’s most profitable airline, Ethiopian Airlines. Nigeria lost its bearing

and prime position in the sector when it liquidated the Nigeria Airways Limited (NAL) well over a decade ago. Manpower development, dominance of a country’s lucrative routes and commercial air service agreements revolve around a national carrier or flag carrier that has the full backing of the government. Experts say Nigeria loses over N400 billion yearly to foreign airlines and expatriate manpower since the NAL was liquidated. The training of aviators and NAL’s lucrative routes have been taken over by foreign airlines, which easily get frequencies from the government. It has been suggested that the new national carrier must be private sector-driven. That is good, but an international airline of repute must hold equity as core investor. This core investor and partner must nurse the airline until it becomes strong and then hand it over to Nigerians to manage. Even at that, the core investor must retain some equity to sustain its commitment to the success of the carrier. We believe that with such tight business arrangement and a good understanding of the challenges the local operators face, the government will be in a strong position to remove all obstacles to a thriving aviation industry and a sustainable national carrier.

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Politics

CO NTINUED FROM PAG E 1 6

The bottom line is that we cannot ignore the need to groom our leaders and make them imbibe the right ethics for good governance. If we don’t do that, the Independent Corrupt Practises and other related offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC) and other anti-corruption agencies would only remain like scarecrows. It will be just a dance! If you cannot instill morality, ethics and discipline in your leaders, then what do you expect of the followers if they have the opportunity not to act according to the laws of the land? What was the security situation in Nigeria as at independence? Can we compare it with what we have today? Security is a small word but it has an all-encompassing meaning. If you say security is synonymous with lack of challenge and a peaceful environment like Aso Rock that is the seat of power, it will not be relevant to the security of human beings. Security in the post-independence period was quite different. People were culturally free and untainted whether they were Muslins or Christians. There were incidents of stealing and violence but they were not at the scale of today’s conflict flashpoints. At that time, political disagreements were not as heated as they have become now. The only violence that erupted then was either due to the colonial people trying to subdue the people or the Jihadists trying to convert people. So, generally, the reasons for which people feel insecure now did not exist then. People were safe in their villages even though there were no police stations and policemen, electricity and other social amenities. People could sleep outside on their mats; a few who had cars could afford to have a breakdown, leave the car and still pick it up intact days afterwards. The explosion of the feeling of insecurity generally is the sense of deprivation. Pressure to have a house, jobs, to earn money to pay school fees, pay hotel bills and support the family and pressure to be influential as a politician are some of the factors responsible for insecurity in our society. The way our political development has evolved after independence deviated from serving the people, and adding value to their lives to one of opportunity to be influential, have access to the treasury and on the basis of that determine who gets what. It also brought us a culture of not wanting to be transparently accountable. In that situation, many who become disgruntled are under pressure; they form gangs, they kidnap, loot, break in and steal and they set up cabals or secret cults. I think it is a dynamic evolution in society. Even countries like America went through it. We are going through it now because we are a big country. A big country ought to weave its various diversities and sort out the challenges so that as many people as possible would feel the impact of good governance. When they have access to their basic needs, they will have hope for education, jobs, healthcare, sports and leisure. Once people are convinced that their endowments and prowess can get them to heights where they can feel fulfilled in life, there will be security. But I think that our insecurity of today can be said to have erupted out of political dissatisfaction and that is an indices of political disservice. If budgets are not implemented, development plans are not implemented and budgeted funds are not used for the purposes they were meant, then you will never have people appreciate or associate themselves with the government. So, why should they go out and vote? Why not fight for the opportunity to grab power, access the treasury, oppress the people who will go to school, sit down on them and

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

We’ve mismanaged our opportunities –Haruna

Haruna

A few years ago, a study group in the United States predicted that Nigeria would disintegrate in 2015. Given our present security challenges, do you see Nigeria surviving 2015? Those who predicted Nigeria’s disintegration in 2015 were only involved in a study, and they were making the prediction on the premises which they built themselves. So, from those premises they can do one or two things. They can instigate and support the breakdown or in the alternative manoeuvre it so that it doesn’t break down in furtherance of your own interest. This study was not done for the benefit of Nigeria. It was for the benefit of policies that can be impacted to manipulate Nigeria one way or the other. So, it is up to the leaders of our country to determine and manoeuvre our own policies in a direction where we can defend the integrity and sovereignty of our country.

declare themselves by whatever name that enthroned you next to God over people. How do we relate this analogy to the current insecurity posed by Boko Haram? Well, they are closely related because those who are sacking police stations, attacking military bases, burning schools and depriving people from going to school certainly feel that they are left out of the civilised world. They have seen or enjoyed their sponsors who don’t feel they should be educated or encourage them to seek modern education. So they (Boko Haram) don’t feel that they are committed to education because educated people turn out to manage them and become their oppressors. If they were enlightened and given the benefit of due process of democratisation, equality and they feel that they are also human beings deserving of human rights, not objects or instruments of other people who use them for their own causes, then they would have seen the world differently. Again, we ask: what part did the leadership play? What do you think Nigeria should do to get out of the present security challenges? Well, with respect to Boko Haram, they have exercised their freedom of expression in a democracy wrongly because your freedom ends where someone else’s starts. All these violent groups are challenging the audacity of the state. Whether they are insurgents, militants, cults or cabals; they are challenging the authority of the state as the arbitrator in the competition and conflict between different interests. The law is there to be applied equally. So to contain it is by the full use and proper use of the national institutions for sustaining law and order. Are you comfortable with the way the

insurgency is being tackled by the government? It’s a process and as a process, you know there are basic principles when you are confronting insecurity within your territorial boundaries. It is minimum use of force. But then, the solution is not just force. It’s a mixed bag of palliatives, cajoling, educating and maybe propaganda. But you have to handle all these issues in such a way that the people living in those areas will be satisfied. They are hungry; they have no farms; they have no jobs, they can’t produce food, they can’t earn income because their produce is not relevant to the needs of the economy. Their labour is not consolidated to make them relevant and value added to the society. Perhaps they have no regard for themselves as being valuable members of this society. It is a gamut of strategies. I think that during the course of our independence, the leaders, particularly the political leaders did not look at the growth of dissatisfaction of alienated people within the system. I think that our political leaders after independence failed and in their failing they didn’t consolidate the system of education nor did they provide the kind of economy to which people could subscribe and feel satisfied. The cotton farms, cocoa and groundnut pyramids, the marketing boards, the textiles all broke down. I think that largely it is a form of protest of people who have been alienated by the system in the evolving nationhood.

Have you developed the capacity to implement those plans and to build on them? If you are always drawing up plans and abandoning them to start all over again, then you will remain perpetually at ground zero

Do you think that this insecurity could have been instigated from outside to achieve this 2015 doomsday prediction on Nigeria? There is always the possibility of conspiracy theory to test your capacity to wriggle out of such crisis. That strengthens you to be recognised as a worthy country to do business with. In the alternative, we can let things fall apart because whichever way, the advanced economies and their industries would benefit. So, it’s the world system. There are good guys, there are bad guys. If you want to be a government of bad guys, you can work with them. We have governments run by bad guys in Africa. The government of Mobutu Sese Seko, for instance, sold all the diamonds and had all the riches. The people were starving and dying of wants. So, there are political choices which every leader and every nation must make at one time or the other.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

‘Deviant behaviours,traceable to drugs’ Don’t die in silence

When a personis now doing drug, he or she becomes a danger to those around him or her

More women, who suffer this humiliation, are coming out with their stories

‘AbusedwomeninNigeriadon’treportcases’ Rape cases in particular are often settled financially out of court

Investigation

A slave in marriage (2) Marriage, which is ordained by God, is adored by humans as the oldest institution on earth. Yet, to some, it has remained an albatross that has permanently reshaped their world view. But, is marriage worth dying for? Find out, as ISIOMA MADIKE concludes this two-part series on ‘marriage made in hell’

t is almost becoming an everyday occurrence across Nigeria at present. The headlines that dot the Nigerian media nowadays are as horrific as they are nauseating. They are stories of men killing their wives, or wives killing their husbands. Sometimes, it is about father or mother killing his or her child. Children are also not left out; killing their parents is increasingly becoming a pass time. Just recently, an undergraduate of one of the privately-owned university butchered his pastor father at the Redeemed Christian of God (RCCG) Camp ground at kilometre 46, LagosIbadan Expressway in Ogun State. Another involved a police man, who suddenly went berserk and sent not only his wife but six others to their early graves. The “madman” took his life thereafter. There was once a report also of how a man beat up his wife and in his fit of jealous rage poured acid on her. In Akwa Ibom State, another was said to have dealt a heavy machete blow on his wife on the allegation that she was unfaithful. These are few incidences of where domestic violence was taken to the extreme. Increasingly, the menace of domestic violence is fast being entrenched in the Nigerian society and has led to the sudden death of many across the country. Today, many have died, others brutalised or maimed for life by their violent partners. There are also those, who kill themselves to exit violent relationships, or die dejectedly in their attempt to avoid violent spouses. In these circumstances, the Nigerian Police are being confronted with the challenge of resolving the riddles arising from killing of one’s spouse or children. In like manner, magistrate courts are daily being inundated by divorce cas-

ISIOMA MADIKE

EDITOR, INVESTIGATIONS isioma.madike@newtelegraphonline.com

Kate Henshaw, Weird MC and Okei-Odumakin leading a protest against domestic violence

A woman beating her husband

PHOTO: GONGNEW.NET

es also. This has caused marriages to be failing at an alarming rate. A psychologist, who refused his name in print, told this reporter that the escalating domestic fracas leading to avoidable deaths could be partly blamed on economic challenges in the country as well as the state of mind of the individuals concern. “What we are seeing these days was

Marriage, to women as to men, must be a luxury, not a necessity; an incident of life, not all of it

PHOTO: CENTRE4CHANGE.ORG

not totally alien in the years gone by. Although, people have become more desperate these days going through much stress-induced conditions that affect their behaviour. “With the level of poverty in the land, a good number of families are leaving in frustration. As a result, they spend quality time hobnobbing with some worthless fellows, and before long, they begin to manifest some phony traits. Some, who equally are driven by sheer envy of their working wives, try to employ undue brute to assert their headship in the home. And because they are financially incapable of meeting the family needs, they begin to suspect their wives, who struggle to do so,” he said. Dr. Joe Okei-Odumakin, president of Women Arise, a non-government organisation, has also blamed the upsurge in domestic violence to C O N T I N U E D O N PA G E 2 2

Investigation

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

‘Deviant behaviours, traceable to drugs, alcoholism’

Orelope-Adefulire C O N T I N U E D F R O M PA G E 2 1

Often, she complains in the presence of their children, letting them feel their father has failed in his duty and therefore, is useless

what she calls ego problem. “If the man, who is considered the bread winner, is unable to make money available for the family food, the woman starts nagging. Often, she complains in the presence of their children, letting them feel their father has failed in his duty and therefore, is useless. These breeds’ quarrels, which degenerate to fighting; swearing and cursing, become the order of the day. With this, poor emotional mental environment is created. The couples may now just be co-habiting and not really living as a family. Love is lost and respect is lost for one another. At this point, anything is possible,” she said. However, there are people, who believe that some of the deviant behaviours resulting in domestic violence are traceable to drugs and alcoholism. “When a person, it could be a man or woman, is now doing drug, he or she becomes a danger to those around him or her. Those, who abuse alcohol, narcotics, morphine, heroin or stimulants such as cocaine, marijuana among others are capable of causing harm to other people under the influence of such substances. In Nigeria, many people easily get hooked to some of these drugs as a result of peer influence, particularly through constant association with bad people,” an expert was quoted to have said. Tagged men, who batter their wives as criminals Perhaps, this may be why the Lagos State Deputy Gover-

nor, Mrs. Adejoke Orelope-Adefulire, on Monday, June 15 advocated for stringent sentence of life imprisonment, without an option of fine, for offenders. She also called for compulsory psychiatric tests for some men, particularly perpetrators, as part of routine checks. According to her, parents should not hesitate to report such cases to the police, in order to expose and prosecute the offenders, to serve as a deterrent to others. “The problem we are having is that people, especially victims, do not speak out and report; even when they report to the police, the perpetrators lure them to drop the case,” she said. Lagos State Government, in the bid to harmonise approach towards the prosecution of domestic and sexual violence offences, inaugurated the Domestic and Sexual violence response team (DSVRT). At the Inaugural meeting, the State Attorney-General and Commissioner for Justice, Ade Ipaye, disclosed that the team is a specialised one that will co-ordinate partnership work to develop a community response in preventing domestic violence, protect and support victims and bring perpetrators to justice. The commissioner said the purpose for the establishment of the team is to increase victim safety and offender responsibility by providing a cross jurisdictional response that is uniform in approach in domestic violence cases. ‘‘The establishment of DSVCT will be instrumental in the reduction of domestic and sexual related crimes and ultimately provide

Ipaye

Afolabi-Akiyode

Damasus

Ali Baba

some succour to the victims of these heinous crimes in Lagos State,’’ he said. He said that efforts of the Police and other Community Service Organisations, who are “working passionately with a view to tackling this menace” are commendable, adding that it is important to harmonise this efforts and provide a coordinated response to this issue while working towards one common goal. He said the team is devoted to education and creation of awareness among all interest groups in order to prevent or reduce the incidence of sexual and domestic violence in the state. Before then, Goodwill celebrity ambassadors had called on Federal Government to put in place stiffer penalties for men, who batter their wives. The celebrities at an awareness campaign against domestic violence, in Lagos State recently also want men, who batter their wives to be tagged criminals. The campaign was organised by an NGO, Project Alert. Some of the ambassadors alleged that the government was not treating the issue of domestic violence with the seriousness it deserved. For instance, a Nollywood act, Stella Damasus, said although there was a law against domestic violence in Lagos State, “it is one thing to make laws but another to enforce it. The Police have to help us; we take cases to the Police and they will tell us that it is a domestic affair; it is the husband, we cannot interfere,” she said. Damasus, however, called on the government to support Project Alert and other agen-

cies that take care of women that had been battered and displaced, saying the people hurt the most are not just the women but their children. Domestic violence has reached an alarming level in the country Ali Baba, a comedian and actor, also recommended the creation of a public awareness campaign on violence against women just like it was done for refuse disposal on the streets. According to him, parents are 40 per cent guilty why some women get beaten up because when they find out that their daughters are beaten they tell her to go and endure. Some lawyers have equally decried the growing trend of domestic violence and blamed the women for not reporting their ordeals. A lawyer and social critic, Ogedi Ogu, told News Agency of Nigeria that domestic violence was a major contributory factor to the rising rate of divorce cases in the country. “The weight of domestic violence unleashed on women in the society is becoming alarming, and requires redress,” he said. Another lawyer, Mike Dugeri, said a combination of factors have led to the perpetuation of domestic violence in the society. “Domestic violence is perceived as a family issue, and some women have come to accept it as part of family life and would rather prefer to keep mute,” he said. He argued that women, who experienced violence from their spouses, should protest to the appropriate channels, C O N T I N U E D O N PA G E 2 3

Investigation 23

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Don’t die in silence, says Effah-Chukwuma Mrs. Josephine Effah– Chukwuma, an activist and Sociologist, is the founder and Executive Director of Project Alert on Violence Against Women. She tells ISIOMA MADIKE in this interview that marriage should not be a death sentence to anybody. Excerpts

daughters, brothers are holding their sisters by their hands and saying, come, you can’t sit down there and die like that. So, that awareness is there now and the increased reporting of such incidences. Yet, I am a bit skeptical to talk about increase incidences. For all we know, 20 years ago, we may have more of such issues but nobody was talking about it. That is the difference today. It is everybody’s business now and more people are interested in talking about it. The media has also helped to always bring it to public discuss; even the deaf, dumb and the blind are all talking about it openly. It is no longer a secret thing. But, is marriage a death sentence? The straight answer to that is capital NO. It is not, it has never been and it will never be a death sentence. Although, we usually say “till death do us part” when we are getting married that again does not connote that a partner reserves the right to terminate the other’s life. That is not what it is and anybody thinking along that line is simply leaving in fool’s paradise and should better go and inhabit with the animals in the forest.

How would you like to describe domestic violence? It is what it is; evil against humanity. For this simple definition, all civilised humans, especially men should denounce it in its entirety. It is an attitude reserved for animals. And any human in such despicable act should have his or her head reexamined. Do men also suffer this kind of violence? Yes, of course. The only difference is that women are more at the receiving end. That does not mean that it does not happen to men; but they are a negligible number compare to women that suffers domestic violence What really constitute domestic violence? It is simply violent treatment by intimate partners. While some take the form of physical abuse, others are sexual, psychological or arbitrary deprivation of liberty. Victims in most case suffer in silence and in extreme cases, could lead to untimely death. Would you say this act is on the rise in Nigeria? It is difficult to say really. We must have figures to back up whatever our claims are, and this ordinarily should come from a survey. This kind of survey should be able to show what it was at a point and what it is at present and should be done over a period of years. It entails serious and conscientious monitoring, watching closely, if you

Effah–Chukwuma

like. The survey should also take into account the figures of reported cases from police and those reported to Non-Governmental Organisations. It is then then you will be able to establish that it was, for instance, this figure 10 years ago and this other figure today. Until this index is taking seriously into consideration, it will be foolhardy to speculate. What I feel more comfortable in saying is that we are having increase reporting, increased publicity because of the noise, the advocacies of the rights groups. As such, we have continuously thrown the issue into public domain as against decades ago when just a handful could summon the courage to speak out. Are you saying that more people are coming out with their stories today? Yes; that is why it looks like there is

an increase of the incidence of domestic violence. People are no longer intimidated to keep quiet. Today, more women, who suffer this humiliation, are coming out with their stories. Fathers, brothers, friends and relatives are all coming out to cry against this evil. This is happening because of the understanding, the sensitivity that domestic violence is a serious issue that should not be downgraded and people are seeing the danger in keeping mute. We were all here in Lagos when Titilayo Arowolo was killed, and we still have several Titilayos across the country. Are you saying that domestic violence has always been there? Yes, I would say that domestic violence has always been there. But now, the silence is being broken. Like I said earlier, fathers are crying out for their

How are men reacting to all these? I must say that we have different categories of men. There are some, who come in and appreciate what we try to do; they can see what we are talking about and appreciate that we are talking about their marriage not ours. Here, we do achieve reconciliation while some would prefer to take it home to resolve with extended family members, but that does not mean we have to withdraw, no; we still monitor to see that there is a proper reconciliation. But, some men have ego and would never see the point we are making. What advice for victims and those intending to get married? For those in marriage, we don’t advise them to die in the marriage. If it gets nastier, please quit. They should not die in silence; no marriage is what dying for and marriage should not be a death sentence to anybody. But, for those intending to get married, we should try as marriage counselors, to include the issue of domestic violence at that point. We should not shy away from talking about it or pretending that it’s all bed of roses.

Don’t see domestic violence as a family issue –Lawyer C O N T I N U E D F R O M PA G E 2 2

to make the vice a thing of the past. “It is erroneous for any person to see domestic violence as a family issue. This has been a major reason why cases of violence keep lingering in the society,” Dugeri said. He, however, said women were not the only victims of violence, since some of them also engaged in the habit of assaulting their husbands. “Women are the major victims of violence in the home. But, it is also important to note that some women harass and assault their husbands, though, the cases are rare,” the lawyer said. In his comments, Emmanuel Adesina, also a lawyer, said that there was the need to encourage female education and empowerment. “This will act as a check on some of the vices against women in the society,” he said. According to the permanent

secretary, Lagos State Ministry for Women Affairs, Mrs. Riskat Akiyode, “it has been established that both physical and psychological violence against women result in physical injury, depression, low self-esteem, trauma, stress and other health-related problems and may sometimes result in death. It is not only the victims that suffer, children also get hurt when they see their mothers being maltreated, yelled at, pushed, or hit. They experience confusion, fear, stress and shame.” Speaking further, she established a link between juvenile delinquency, deviancy, violence conduct among children and youths to broken homes, which were the direct results of domestic violence. To a Lagos-based lawyer and right activist, Dr. Abiola Akiyode-Afolabi, domestic violence has reached an alarming level in the country. She called on various stakeholders to join forces to arrest the ugly trend.

Couple showing bad example to kids

According to her, domestic violence, under whatever guise, is a crime that has to be tackled head-on.

PHOTO: 9JABOOK.COM

Incidentally, Nigeria is failing C O N T I N U E D O N PA G E 2 4

Investigation

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

‘95.2% of abused women in Nigeria don’t report cases’

Couple fighting dirty outside

PHOTO: INFORMATIONNG.COM

A victim of domestic violence PHOTO: ENIGERIANNEW.BLOGSPOT.COM

C O N T I N U E D F R O M PA G E 2 3

to implement its current obligations under international law. In early 2007, Nigeria’s National Assembly rejected the domestication of the international law of the Convention on the Elimination of all forms of Discrimination Against Women (CEDAW), despite having ratified it in the 1980s without reservation. Long-term behavioural changes will not be incurred through top-down approaches. However, some legal reform has got underway. In the same 2007, the Lagos State House of Assembly passed a law “to provide protection against domestic violence”. Funmi Falana, Chairwoman of Women Empowerment and Legal Aid (WELA) said that since being passed, “the law has rarely been tested by victims of domestic violence”. The Domestic Violence Protection Bill 2006 has only passed its first reading at the National Assembly, and out of the 36 states in Nigeria, only four have enacted the Domestic Violence Law. There are certain alternative authorities to the courts that are often consulted when settling a case of domestic violence. However, discrimination against women may continue in the consulting of community elders, and women’s version of events may

Faces of domestic violence

CJN, Aloma Mukhtar

be dismissed out of hand. Rape cases in particular are often settled financially out of court. This results in a serious lack of data on the levels of rape in Nigeria. Not only does a culture of silence and distrust prevent women from coming forward, but government policy prevents records of gender-based violence such as rape going public. The reasons for this may be manifold but it is notable that violence against women is perpetrated not just inside homes but

PHOTO: LINDAIKEJI.BLOGSPOT.COM

Provision of gender sensitivity training to Nigeria’s police and security forces, judges, and other officials in the criminal justice system and lawyers would go a long way to solving the menace

directly by some police and security forces. Amnesty International report documents sexual violence including rape by members of the police against women in their homes, in the street and in detention. Currently, the Public Officers Protection Act prevents prosecution of state actors charged for rape. Many have said that the provision of gender sensitivity training to Nigeria’s police and security forces, judges, and other officials in the criminal justice system and lawyers would go a long way to solving the menace. It is also believed that long-term behavioural changes will not be incurred through top-down approaches. The public, according to opinions, must be educated about women’s rights, women and men must have access to safe houses where they can escape domestic violence, and thorough documentation of cases of domestic violence must be gathered, and the statistics made publicly available. Only then, they said, will the culture of impunity be confronted. There are people, who also believe that Nigeria’s film industry has the potential to defy the patriarchal culture that currently accepts violence against women. A recent music video from Nigerian artist, Aituaje Iruobe, popularly known as Waje, about a woman, who refuses to let her husband’s abuse get to her is one example of the ways in which popular culture can be mobilised to raise awareness of human rights violations such as domestic violence. However, statistics have also shown that husband-on-wife violence is becoming endemic around the world, particularly in Nigeria. According to the United Nations Population Fund (UNPF), about 50 per cent of women are said to have been battered by their husbands. Incidentally, the percentage of educated women, who are being abused, was put at 65 as compared to their low income counterpart that stands at 55 per cent. In Nigeria, a staggering 95.2 per cent of abused women do not report cases of domestic violence. The law has also failed to protect them against this evil. For example, only Ebonyi, Jigawa, Cross Rivers and Lagos states have signed the Violence against Women, Prevention, Protection and Prohibition Bill into law. Concluded

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Issue of the Week

Insurance

Stock Watch

Interview

Ease of doing business: The moral lessons

Transcorp: Investors bank on earnings’ growth

Minister to intervene in insurers’ tax burden

Nigeria’s economic growth should not be mistaken for devt –Omoleh

Business What's news

Security: Experts seek review of private jets’ operations Aviation experts have called for review of the certification and operations of private jets, alleging that safety and security of the nation is being threatened.

Telcos hold 173.5m unsold phone numbers

p.26

COMPETITION

Nigeria’s exports hit N8.24tr in 12 years

Operators now scramble to sell more of their allocated phone numbers to boost market share

Nigeria recorded N8.24 trillion from its non-crude export between 2002 and March 2014.

p.31

One of the Central Bank of Nigeria-licensed mobile money operators, Paga, has hinted that with over five years of operations in the mobile payments market, its customerbase is rapidly approaching the two million mark.

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The Business Desk Ayodele Aminu l Deputy Editor (Business)

Simeon Ogoegbulem l Dep. Business Editor

Bayo Akomolafe l Asst. Editor (Maritime)

Sunday Ojeme l Asst. Editor (Insurance)

Godson Ikoro l Asst. Editor (Money Market) Adeola Yusuf l Energy Editor

Wole Shadare l Aviation Editor

Other allocations include 1.5 million phone numbers to NITEL; one million to Prest Cable & TV Systems Limited; 20 million to Alpha Technologies and two million phone numbers so far allocated to Megatech. However, it was gathered that a large chunk of the 177 CONTINUED ON PAGE 26

elecoms companies in Nigeria are still holding about 173.5 million yet-to-be-sold phone numbers allocated to them by the Nigerian Communications Commission (NCC), which they are jostling to sell, New Telegraph has learnt. According to investigation, telecoms operators in Nigeria have been allocated an aggregate of 350.5 million Nigeria phone numbers of different numbering ranges, which they, in turn, are expected to sell to their customers to access both voice and data services on their networks. However, the operators have only sold about 177 million of the total phone numbers, leaving 173.5 million yet to be sold, according to the National Mobile Telephone Number Allocation report obtained from the NCC at the weekend. According to the report, the Global System for Mobile Communications (GSM) including MTN, Globacom, Airtel and Etisalat have the lion share of the number allocation, as they hold 250 million phone numbers. Only 13 telecoms companies were captured by the reports and they include MTN,

L-R: Director, Euromoney Conferences, Christopher Garnett; Group managing Director/CEO, First Bank, Bisi Onasanya and Group Chief Financial Officer, Jagal Group, Richard Turner, at the 2014 Nigeria Banking and Capital Markets Conference, in Lagos.

10 underwriters pay N162.51m claims to Dangote Group Sunday Ojeme

s part of measures to fulfill their contractual agreements, 10 insurance companies paid over N162 million as claims to Dangote Group in

respect of fire incidents that gutted some of the group’s establishments. A document obtained from the Nigerian Insurers Association (NIA) by New Telegraph revealed that the underwriting firms at various times paid

sums ranging from N3.9 million to N20 million, depending on the policy agreement and the premium collected. According to the breakdown, while AIICO Insurance CONTINUED ON PAGE 26

Dayo Adeyemi l Property Editor

each, while Etisalat’s phone number allocation capacity stands at 40 million. Also, Visafone, Multi-Links, Starcomms, Zoom Mobile, the four Code Division Multiple Access (CDMA) operators in the country hold 10 million; 11 million; 5 million and 11 million phone number allocations respectively.

Kunle Azeez

Cashless: Paga targets 2m customer base

Glo, Airtel, Etisalat, Visafone, Multi-Links, Starcomms, Zoom Mobile, NITEL, Prest Cable & TV Systems Limited, Alpha Technologies and Megatech Engrg. The report shows that so far, MTN has been allocated 90 million phone numbers; followed by Glo and Airtel, which now hold 60 million phone numbers

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

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

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

EXCHANGE RATE

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

USD . . . . . . . . . . . . . . . . . . . . . . . N169 Pounds . . . . . . . . . . . . . . . . . . . N280 Euro . . . . . . . . . . . . . . . . . . . . . . N222

(Parellel As at Oct 3)

l Foreign Reserves – $39.47bn as at 2/10/2014

Source: CBN

(Official As at Oct 3)

Business |News

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Security: Experts seek review of private jets’ operations LAPSES

Only 52 or 37.4 per cent of private jets operating in Nigeria are registered locally

Wole Shadare

viation experts have called for review of the c e r t i f i c at i o n and operations of private jets, alleging that safety and security of the nation is being threatened. They also said that non-scheduled operators are being short-changed. Most jets, according to stakeholders, who preferred to remain anonymous because it is an issue on security, said that most jets with private licenses operate commercially without paying the regulatory tax because 80 per cent of about 150 jets mostly owned by Nigerians and operating in the country, are registered overseas and therefore, exempted from paying taxes and five per cent charges to Nigerian Civil Aviation Authority (NCAA). Over the years, there have been allegations that most of the private jet owners use their jets for smuggling out of the country a number of wanted persons, accusations, which they have consistently debunked. But, the recent seizure of $9.3 million in South

Africa involving the Bombardier Challenger 600 with the registration No N808HG belonging to the President of Christian Association of Nigeria, (CAN), Pastor Ayo Oritsejafor, has further confirmed the allegation. A top official of the Federal Airports Authority of Nigeria (FAAN), who preferred anonymity, said that findings by security agencies proved that private carriers, which receive minimal checks compared with the commercial airlines, have

been repeatedly abused, and have been used to illegally convey persons, cash and other effects. The source also said that government intends to monitor operations of unscheduled flights and their manifests following the country’s security situation. He further lamented the loss of revenue from operations by charter flights and its safety challenges due to the usage of private jets for charter operations. Director of Research and Strategies at Zenith

Travels, Olumide Ohunayo, disclosed that the supervision and monitoring of private jets owners is suspect and selective. Speaking on using of private jets for other uses they are not registered for, Ohunayo told New Telegraph at a forum in Lagos: “There is the need to review the certification and operations of private jets as safety and security of the nation is being threatened while non-scheduled operators are being short changed.”

Telcos hold 173.5m unsold phone numbers CONTINUED FROM PAGE 25 L-R: Executive Director, Corporate Bank and Treasury, Keystone Bank, Mr Hafiz Bakare; Director Keystone Bank, Mrs Maria Teju Phillips; Keystone Bank Brand Ambassador, Ms Rita Dominic; Executive Director, Operations and Technology, Keystone Bank, Mrs Yvonne Isichei and Executive Director, Lagos and West, Mr Innocent Ike. Seated is Chairman, Spinal Cord Association of Nigeria, Mr Obioha Ononogbu, during the commissioning of the first wheelchair-friendly Automated Teller Machine, ATM Gallery at the Maryland Branch, Lagos.

10 underwriters pay N162.51m claims CONTINUED FROM PAGE 25

made a total payment of over N15.17 million, Cornerstone paid over N10.84 million. Custodian & Allied paid over N12.19 million while Equity Assurance made a payment of N4.19 million. Within the same period, Industrial & General Insurance was paid over N15.27 million; International Energy insurance, N10.84 million; Leadway Assurance, N36.10 million; Mansard, N31.16 million; Old Mutual, N10.84 million, and Zenith, N15.88 million. New Telegraph recalls that Dangote Group suffered a major loss in 2012 when the sugar refining firm’s plant in Apapa was gutted by fire. Shortly after the incident, some experts had put the ex-

Speaking in the same vein, Commandant, Murtala Muhammed Airport, Lagos, Group Captain John Ojikutu (rtd) noted that 80 per cent of private jets in Nigeria are foreign-registered. “We have very little control over them. NCAA is much aware of the development,” which he said explains the recklessness and lawlessness that are being exhibited by most of the so-called owners. Consequently, he said that the Nigeria Customs Services (NCS) NCAA and Nigerian Airspace Management Agency (NAMA) are responsible for any foreign registered aircraft that is not on wet lease to domestic airlines operator but owned by an individuals or Nigerian vendors, which flies in the country beyond its point of entry. To prevent future occurrence where private aircraft not registered in the country are used illegally, he suggested that foreign registered aircraft must not go beyond the point of entry until they are registered.

pected claims at over N8 billion. Till date, fire claims remain one of the highest paid by the underwriters as a result of negligence on the part of the policyholders. In 2009, about N6.824billion was paid to the Nigerian Bottling Company, bottlers of Coca- Cola following the fire incident at its Benin Plant. Some years later, Friesland Campina Wamco Nigeria Plc, makers of Peak Evaporated Milk was paid N3.636 billion as insurance claim on the flood damage to its Ogba warehouse, Ikeja, Lagos. Insurers are wondering if fire portfolio, which in the past was one of the most profitable, would ever return to the good old days, more

so that it usually takes several years to recover from such huge losses. Dangote Sugar Refinery is owned by Alhaji Aliko Dangote, Africa’s richest man, and the refining plant has a capacity of 600,000 metric tonnes per annum. It can also supply over 70 per cent of Nigeria’s sugar demand. The fire, which occurred during weekend, started at the bagging station at about 7pm, but was successfully contained within 30 minutes through the combined efforts of the company, Nigerian Ports Authority (NPA), Lagos State and Federal Fire Service and others. Lately, claims payment by insurance operators has improved partly due to reforms in the sector and the willing-

ness by the operators to boost penetration. Intervention by the National Insurance Commission’s has also boosted the industry’s claims payment profile especially in the last two years. The intervention, necessitated by conflicts between insurers and policyholders over claims settlement, increased the claims redemption from N1.2 billion in 2012 to N2.2 billion in 2013. Commissioner for Insurance, Mr Fola Daniel, said that the intervention became necessary in order to reinforce public confidence in the sector, which has recorded improvement in the threshold of growth to an all-time high of 40 per cent in 2013 from three per cent in 2007.

million sold and connected telephone lines are now redundant as only 130.7 million are active, leaving over 46.3 million sold phone numbers inactive on the mobile networks. Meanwhile, New Telegraph learnt that some of the GSM operators are currently engaging frenetic competition to seek ways to sell more of their unsold phone numbers to shore up their market share. Only recently, Globacom overtook Airtel Nigeria, which has held the second place status since March. This now rates Globacom as having the second largest number of telephone users after MTN Nigeria, the undisputed leader in the market, as South Africa-based telecoms operators gained 2.8 million new customers between February and June this year. However, analysts say the development in the industry shows Airtel is set to contest the feat by Globacom as Airtel seeks to sell more of its allocated bloc of phone numbers.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

The Mega City ...for the love of Lagos

(: 08023151382 sms only

Edited by: TOSIN OMONIYI

MEGA CITY EVENT

MY CITY, MY WORLD (Carena)

LIFE IN THE CITY (Interview)

Titi Oseni’s 50th Birthday in Lagos

Lagos is my passion

Horn-free day: We want to reduce noise pollution in Lagos, says Opeifa

Mile 12 market: Lagos’ home of foodstuff Joseph Onyekwere

lder statesman and legal practitioner, Dr. Tunji Braithwaite, has insisted that the construction of a 14 story building and a multilevel car park opposite his residence in Victoria Island by the Standard Chartered Bank is illegal. Braithwaite made the assertion at the weekend while being cross-examined by counsel to the Bank, Adeniyi Adegbonmire. He maintained that the structure is illegal and did not comply with the requirement of the law. When Adegbonmire demanded to know if he wasn’t aware that the controversial structure was going to be put up, the activist lawyer said he was not officially informed but got wind of it and approached the court to stop it. Before he mounted the witness box, his counsel, Razaq Okesiji, had sought the leave of court to file certain documents, including pictures of the structure. In granting the leave, the trial judge, Doris Okuwobi, thereafter admitted the documents as exhibit C15 (1), (11) and (111), C16 and C17. Leading his client in examination, Okesiji asked Braithwaite to identify from the picture the level to which the structure had gone at present. Adegbonmire vehemently opposed the examination, there-

Business at the tomatoe section of the market

by forcing the judge to take a short break for a ruling. In her ruling, she dismissed the objection and held that the exhibit upon which the question arose touches on the res(subject matter) and therefore, it was in order for the claimant to explain the contents of the documents he front-loaded to the court.

Responding to the question, Braithwaite informed the court that in violation of an injunction of the court, construction “has now reached 14th storey and five-level car park. The judge, with the consent of parties, adjourned further proceedings to October 28 and 30. At the last hearing, Justice

Synagogue: Coroner’s inquest to commence sitting on Oct.13

he coroner’s inquest into the recent collapse of a building within the premises of the Synagogue Church of All Nations at Ikotun Egbe, a Lagos suburb, would commence sitting on Oct.13. This is contained in a press statement signed by Mrs Bola Akingbade, spokesperson of the Lagos State Ministry of Justice, and made available to journalists on Friday in Ikeja. The statement said the inquest would take place at the premises of the Ikeja High Court and would be presided over by Magistrate Oyetade Komolafe. The News Agency of Nigeria (NAN) reports that 86 persons were reportedly killed and 131 others rescued after the multistorey building collapsed on

Sept.12. The inquest was instituted under the Lagos State Coroner’s System Law No. 7 of 2007 for the purpose of establishing the cause and manner of the collapsed building incident. The statement said those expected to give evidence at the inquest would include Prophet Temitope Joshuafounder of The Synagogue Church of All Nations, and the contractors handling the church building. Others are members of the families of the victims of the incident, some media houses including NAN, Channels TV, Television Continental, Vanguard newspaper , Daily Independent, The Nation and Punch newspapers. The statement also stated

that some ministries, departments and parastatal agencies (MDAs) of Lagos State, the state police command, security agencies and the Nigerian Red Cross, would testify. The statement said an eye witness, Lindiw Ndwande and Mr Rebone Tau, Chairman of the Youth League’s International Relations Committee of South Africa, would also give evidence. It urged the expected organisations, bodies and persons to contact the coroner’s registrar immediately to schedule their appearances. The statement also urged those who wish to give evidence or tender any material that would assist the coroner in its findings to contact its registrar.

Okuwobi also dismissed an application filed by the bank against the plaintiff ’s amended statement of claims for lack of merit. In her ruling, Justice Okuwobi stated that she did not see how the issues raised by the claimant had hampered the case. She said: “I do not foresee that the defendant/applicant will be denied the right to plead his own case in full and that he will be denied the right to fair hearing. For this reason, this application cannot sail through. Consequently, it is accordingly hereby dismissed.” The bank had prayed the court to strike out some paragraphs of the claimant’s reply to the bank’s amended statement of defence. The application followed Briathwaite’s response to the bank’s amended statement of defence in which he raised some vital issues in support of his position. Standard Chartered Bank, responding through its counsel, Adegbonmire, urged the court to strike out certain paragraphs it considered inimical to it, on the ground that the claimant is introducing new facts outside the issue in contention.

Opposing the motion, counsel to the plaintiff, Okesiji, had told court that the contents of the claimant’s reply to the defence’s statement and witness statement on oath are relevant to the subject matter of the suit and necessitated by the averments in the amended statement of the defence as well as the documents introduced by the defence, which were not in existence at the time of filing the amended statement of claims. He further stated that the claimant had neither departed, contradicted nor added new item to its claim, which should prejudice the defendant. Citing several Supreme Court authorities, Okesiji said the reply was within the rights of the claimant and that Order 15, Rule 19 of the High Court Rules allows new pleadings to come up in a reply. He urged the court to dismiss the defendant application, pointing out that the paragraphs of the claimant’s reply to amended statement of defence and corresponding paragraphs of the statement on oath which the defendant seeks to be struck out relate CONTINUED ON PAGE 28

News | Mega City

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Braithewaite, bank bicker over building Joseph Onyekwere

In her ruling, she dismissed the objection and held that the exhibit upon which the question arose touches on the res(subject matter) and therefore, it was in order for the claimant to explain the contents of the documents he frontloaded to the court. Responding to the question, Braithwaite informed the court that in violation of an injunction of the court, construction “has now reached 14th storey and five-level car park. The judge, with the consent of parties, adjourned further proceedings to October 28 and 30. At the last hearing, Justice Okuwobi also dismissed an application filed by the bank against the plaintiff ’s amended statement of claims for lack of merit. In her ruling, Justice Okuwobi stated that she did not see how the issues raised by the claimant had hampered the case. She said: “I do not foresee that the defendant/applicant will be denied the right to plead his own case in full and that he will be denied the right to fair hearing. For this reason, this application cannot sail through. Consequently, it is accordingly hereby dismissed.” The bank had prayed the court to strike out some paragraphs of the claimant’s reply to the bank’s amended statement of defence. The application followed Briathwaite’s response to the bank’s amended statement of defence in which he raised some vital issues in support of

Lagos’ home of foodstuff

Offloading baskets of tomatoes CO NTINUED FROM PAG E 27

to the Environmental Impact Assessment Procedure in Nigeria, and the failure of the defendant to compete therewith, has always been the kernel of the claimant’s case right from the commencement of the suit. Braithwaite in the suit is seeking an order declaring as illegal, the erection of a 15-storey commercial building and multilevel car park by the bank in an

otherwise residential area in Victoria Island, Lagos. The claimant is also uncomfortable with the bank’s installation of giant industrial generators directly opposite his house with the concomitant fumes and noise shattering the air and serenity. Braithwaite in view of this, is praying the court to grant him N10billion in damages and a demolition of the building.

The controversial building

his position. Standard Chartered Bank, responding through its counsel, Adegbonmire, urged the court to strike out certain paragraphs it considered inimical to it, on the ground that the claimant is introducing new facts outside the issue in contention. Opposing the motion, counsel to the plaintiff, Okesiji, had told court that the contents of the claimant’s reply to the defence’s statement and witness statement on oath are relevant to the subject matter of the suit and necessitated by the averments in the amended statement of the defence as well as the documents introduced by the defence, which were not in existence at the time of filing the amended statement of claims. He further stated that the claimant had neither departed, contradicted nor added new item to its claim, which should prejudice the defendant. Citing several Supreme Court authorities, Okesiji said the reply was within the rights of the claimant and that Order 15, Rule 19 of the High Court Rules allows new pleadings to

come up in a reply. He urged the court to dismiss the defendant application, pointing out that the paragraphs of the claimant’s reply to amended statement of defence and corresponding paragraphs of the statement on oath which the defendant seeks to be struck out relate to the Environmental Impact Assessment Procedure in Nigeria, and the failure of the defendant to compete therewith, has always been the kernel of the claimant’s case right from the commencement of the suit. Braithwaite in the suit is seeking an order declaring as illegal, the erection of a 15-storey commercial building and multi-level car park by the bank in an otherwise residential area in Victoria Island, Lagos. The claimant is also uncomfortable with the bank’s installation of giant industrial generators directly opposite his house with the concomitant fumes and noise shattering the air and serenity. Braithwaite in view of this, is praying the court to grant him N10billion in damages and a demolition of the building.

Council moves to relocate street traders from Lagos/Abeokuta Expressway r. Sola Popoola, Secretary, M Agbado Oke-Odo Local Council Development Area

(LCDA), Lagos, on Monday said that the council had concluded plans to take street traders off major roads in the area. Popoola told the News Agency of Nigeria (NAN) in Lagos that the council was expanding Unity Market, along Ray Power Road in Alabgado to ac-

commodate the traders. He said that the council was seriously disturbed by increasing activities of the traders which had obstructed vehicular movement along Ray Power Road and Lagos/ Abeokuta Expressway. According to him, the market expansion involves the construction of cheap key clamps to accommodate petty

traders, who obstruct traffic. Popoola said that the five feet by six feet key clamps would be offered at between N100, 000 and N120, 000 on owner occupier basis. He said that the developer was asked to spread the payment into three installments payable in six months for the various measurements available at different prices.

INTERNATIONAL WEEKLY

In collaboration with

Sanctity of Truth

Friends of Putin Reap Richest Rewards This article is by Steven Lee Myers, Jo Becker and Jim Yardley.

FELIPE DANA/ASSOCIATED PRESS

Sanctions are testing Vladimir V. Putin’s system of crony capitalism.

ST. PETERSBURG, Russia — Weeks after President Vladimir V. Putin annexed Crimea, an obscure regulatory board in Moscow known as the Market Council convened to discuss the country’s wholesale electricity market. It is a colossal business, worth 2 percent of Russia’s gross domestic product, and a rich source of fees for the bank that had long held the exclusive right to service it. With no advance notice or public debate,

the board voted that day in April to shift that business to Bank Rossiya, a smaller institution that lacked the ability to immediately absorb the work. For Bank Rossiya, it was a tidy coup set to yield $100 million or more in annual commissions, yet it was just the beginning. Suddenly, state corporations, local governments and even the Black Sea Fleet in Crimea were shifting their accounts to the bank. Bank Rossiya’s windfall was delivering a message. In late March, the United States had made the bank a primary target

of sanctions, ostracizing it from the global financial system. Now the Kremlin was pushing back. The rush to prop up Bank Rossiya, which now has nearly $11 billion in assets, was for the same reason that the United States, and later its European allies, placed it on the sanctions list: its privileged status as what the Obama administration calls the “personal bank” of the Putin inner circle. Bank Rossiya is emblematic of the way Mr.

Continued on Page 5

BYRON EGGENSCHWILER

The Ways Of Caves Catch On

By ALEX WILLIAMS Which is more primal, hard cider or a strawberry margarita? Would a self-respecting cave man check his iPhone after 8 p.m., as long as he was wearing amber goggles? What about that morning beauty regimen? Is coconut oil or castor oil more likely to restore that neo-Neanderthal glow to a woman’s cheek? To the uninitiated, the much talked about Paleo diet — a nutritional regimen centered around pasture-raised meat, eggs, fresh fruit and vegeta-

bles, and nuts, in the spirit of our cave-dwelling forebears — may seem like another low-carb fad. But lately Paleo has charged toward the mainstream, not only as a hugely popular diet, but as a lifestyle and a fast-growing industry. There are now glossy magazines on the Paleo lifestyle, conferences like Paleo f(x) and vacation retreats like PrimalCon. There are Paleo books, action figures, beauty products, liquors, sleep masks and “barefoot” shoes and clothing. And, of course, Paleo has its

INTELLIGENCE

WORLD TRENDS

MONEY & BUSINESS

Japan’s conservative force. PAGE 2

Sicilians’ compassion for refugees. PAGE 3

Small spenders are big business. PAGE 6

celebrity followers. Actors like Megan Fox, Jessica Biel and Matthew McConaughey have reportedly taken the plunge. Karen Phelps, a freelance writer in Ashland, Oregon, converted to the diet a few years ago, and it ended up becoming a total-life commitment. “You start thinking, ‘Wait a minute, if I can fix my diet from ancestral health principles, what else can I fix through ancestral health principles?’ The list

Continued on Page 4

ARTS & DESIGN

A star architect’s first museum. PAGE 8

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, OCTOBER 6, 2014

WORLD TRENDS

Beatification Puts Opus Dei in Spotlight

Nippon Kaigi, a nationalist organization that is gaining in strength, has adopted provocative stances toward some of Japan’s neighbors, such as defending the country’s claim over the Senkaku/Diaoyu Islands, which China also claims.

By RAPHAEL MINDER and ELISABETTA POVOLEDO

ical and financial institutions. The movement’s founder, Father Escrivá, was a SpanMADRID — There is always a hint of mystery, even politics, ish priest who urged Catholics whenever the Roman Catholic to sanctify God through their Church advances someone toregular work and hence named his institution using the Latin ward sainthood. But when that for “work of God.” step involves one of the more Father Escrivá founded revolutionizing popes of reSpain’s first faculty of journalcent history advancing a figure from one of the most powerful ism, within the University of and discreet of Catholic moveNavarra. That university also runs IESE, which ranks among ments, the mysteries and polEurope’s best business schools. itics seem to run even deeper. That educational network, in In a Mass near Madrid on turn, has made Opus Dei a wellSeptember 27, the Catholic Church beatified Monsignor spring of elite talent that has Álvaro del Portillo, a Spanish gone on to fill positions of power. priest who led Opus Dei and Monsignor del Portillo spent died 20 years ago. It was not most of his life in Rome, workthe first time that a leading figing alongside Father Escrivá before succeeding him at Opus ure from Opus Dei had been so Dei. His beatification was jushonored — the group’s founder, José María Escrivá de Balagutified by the miraculous recover, was canonized by John Paul ery from heart failure of a ChilII in 2002 — and Monsignor del ean baby, whose mother put an Portillo’s process toward saintimage of Monsignor del Portillo above his cradle. hood was already underway beIn Spain, where Opus Dei fore Pope Francis was elected. has a third of its 90,000 official But the rite was seen as tellmembers, the movement’s iming coming under Pope Francis, an Argentine who belongs age has suffered from its past to the Jesuit religious order, links to the Franco dictatorship. “Many people still see us as the strongest sup porters of the Franco regime, but Opus Dei tells members to have a socially responsible role and left each one to choose whether this was best done ANDRES KUDACKI/ASSOCIATED PRESS within the regime An education network run by Opus or not,” said Antonio Argandoña, an Dei led to a wealth of talent. Priests economics profespreparing for beatification rites. sor at IESE, who is also among the numeraries of Opus Dei, devowhich is viewed as liberal and emphasizes ministering to the tees who are celibate and usupoor and the dispossessed. ally live in Opus Dei centers. Opus Dei runs many efforts The movement’s assets were that serve the poor, but it is best estimated to be at least $2.8 bilknown for cultivating the highlion by John Allen, who wrote a book about Opus Dei after the ly educated and elite profespublication in 2003 of “The Da sionals who can spread Opus Vinci Code,” the best-selling Dei’s brand of spirituality to work of fiction by Dan Brown ever-wider circles. that portrayed the movement The beatification, the third as a criminal organization. of four steps toward sainthood, Followers dismissed such was a result of “indefatigable works as fantasy. Membership lobbying” by Opus Dei, accordis “like going to the gym, but to ing to Marco Politi, a Vatican stay spiritually fit every day,” journalist with Il Fatto Quotidisaid Javier Cremades, chairano, an Italian newspaper. Within Spain, where Opus man of Cremades & Calvo-SoDei was founded in 1928, the telo, a Spanish law firm. movement is still regarded as a “If you’re not tied to Opus Dei force behind an array of politor some other movement,” he said, “being a Catholic today isn’t easy in a world that has beLaurie Goodstein contributed reporting from New York. come much more materialistic.”

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Tea Party Politics in Japan Tokyo On September 3, Prime Minister Shinzo Abe reshuffled his cabinet for the first time since he came to office in late 2012. Determined to show that he is progressive on women’s issues, he appointed five new female ministers, tying the record set by Prime Minister Junichiro Koizumi. The foreign news media seem to have been impressed by the gesture. But Japanese outlets were more interested in the gains of another group: Fifteen of the 19 members in the new cabinet belong to Nippon Kaigi, the “Japan Conference,” a nationalistic right-wing group that was all but unknown until recently. An American congressional report from early this year mentioned Nippon Kaigi as one of several organizations to which Mr. Abe has ties that believe that “Japan should be applauded for liberating much of East Asia from Western colonial powers, that the 1946-1948 Tokyo War Crimes tribunals were illegitimate, and that the killings by Imperial Japanese troops during the 1937 ‘Nanjing massacre’ were exaggerated or fabricated.” This is standard fare in the noxious world of Japanese ultra-nationalism. So, too, are the goals of Nippon Kaigi. On its web page the group calls for preserving Japan’s “beautiful traditional national character,” which centers on the imperial household; adopting “a new constitution suited to a new age,” which would presumably allow Japan to maintain a full-fledged military; and instilling patriotism and morality in Japanese schoolchildren by revising our “masochistic” history curriculum and “the rampant spread of gender-free education.” The group also staunchly opposes the notion that a woman could be emperor — even though there have been female emperors in the past — or allowing women to use their maiden names after Norihiro Kato is a literary critic and a professor emeritus of Waseda University in Tokyo. This article was translated by Michael Emmerich from the Japanese. Send comments to intelligence@nytimes.com.

they get married. Nippon Kaigi started drawing attention to itself late this summer. The daily Tokyo Shimbun reported that two local politicians who had come under fire for sexist or otherwise insensitive comments belonged to the group, and noted its size and reach. And The Asahi Shimbun reported that local politicians throughout the country who are affiliated with Nippon Kaigi were trying to stir up a grass-roots movement to eliminate the so-called “peace clause” from the Constitution. With the recent reshuffling of Mr. Abe’s cabinet, Japanese people are only just realizing that a group they had not even heard of a month and a half ago is helping shape national policy. Nippon Kaigi has about 35,000 dues-paying members. (In accordance with its values, men pay 10,000 yen in annual fees and women half that much.) The

An upstart group that is helping shape national policy. group has more than 250 offices around the country. According to The Asahi Shimbun, the Nippon Kaigi Discussion Group of the Diet has 289 members, mostly conservatives from the Liberal Democratic Party (L.D.P.) — about 40 percent of the entire Parliament. Revising the Constitution requires a twothirds majority (plus a simple majority in a subsequent referendum), but it probably already exists if you add to the Nippon Kaigi discussion group the other pro-revision politicians in the L.D.P. and other parties. And, of course, Nippon Kaigi has a powerful friend in Mr. Abe. Recent reports on Nippon Kaigi describe it simply as the largest right-wing organization in Japan. In reality it is akin to Japan’s version of the Tea Party in the United States: Like the Tea Party, it is a product of deep conservative anxieties about the future. Nippon Kaigi first

emerged in 1997, a few years after the L.D.P. lost the ability to govern on its own and began forming coalition governments, and it expanded after the centrist Democratic Party of Japan’s brief rise to power in 2009. Both Nippon Kaigi and the Tea Party cast themselves as “grass-roots” movements that represent the “traditional” values of “the people.” One of the Tea Party’s slogans is “Take Back America,” and in the last election, one of the L.D.P.’s was “Take Back Japan.” But from whom exactly do Mr. Abe, the L.D.P. and Nippon Kaigi want to take Japan back? Unlike the Tea Party, which could not be more explicit in its rejection of President Obama and the American left, these Japanese conservatives have been unwilling to come out and say exactly what they oppose. Their vagueness reminds me of the title of a book that the conservative politician (and Nippon Kaigi officer) Shintaro Ishihara published in English in 1991: “The Japan That Can Say No.” At the time, Mr. Ishihara was arguing that Japan had to stand up to the United States. Later he redirected his frustration about Japan’s seeming inability to do this into infamous anti-Chinese polemics. Nippon Kaigi and the L.D.P., which the group is rapidly claiming as its own party, are also adopting provocative stances toward some of Japan’s neighbors: They vigorously defend Japan’s claim over the Senkaku/Diaoyu Islands, which China also claims, and they deny that during World War II the Japanese military forced so-called comfort women into sexual slavery. Ultimately, however, these positions are only proxies. The real issue is this: the profound sense, shared by Japanese of many other political persuasions, that postwar Japan has never stood on an equal footing with the United States. For now, the Tea Party of Japan looks like any other nationalist right-wing group. But its strength is growing. And there is no telling when its members might start saying what really is on their mind: “Take Back Japan From America.”

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Italy’s coastal towns have struggled to help a flood of refugees. Right, a burial in Modica for some who died at sea. Migrants in Augusta and, below, Catania.

Migrants in Sicily Find Compassion PHOTOGRAPHS BY LYNSEY ADDARIO FOR THE NEW YORK TIMES

By JIM YARDLEY

POZZALLO, Sicily — The 18 coffins were placed in rows as the mayor and other dignitaries took their seats in the hilltop cemetery. A Catholic vicar-general offered a homily. A Muslim imam knelt in prayer, his voice rising above the mausoleums toward the blue of the Mediterranean. They had come to mourn strangers. Inside the coffins were the bodies of Africans who died in August, collected from the smuggler boats that were carrying them into Europe. Eight coffins bore plaques that stated, simply, “Sconosciuto,” or “Unknown.” “The opposite of love is not hatred,” Monsignor Angelo Giurdanella said, “but indifference.” No one could accuse Pozzallo of indifference. This small Sicilian town, like Italy itself, has staggered its way through a migration crisis in the Mediterranean that has seen 120,000 migrants rescued by Italian ships this year, almost triple last year’s figure, while nearly 2,800 have died in shipwrecks or in transit, a fourfold increase. Gaia Pianigiani contributed reporting from Pozzallo and Augusta, Italy, and Lynsey Addario from Pozzallo.

“It is a river of people coming in,” said Daniele Carrozza, who runs one of the many holding centers in Sicily that house migrants, among them several thousand unaccompanied minors. “For the next few years, we are going to have an exponential increase.” Until three years ago, Europe mostly acted to deter migrant boats, as Italian ships and those of Europe’s border agency, Frontex, pursued the “pushback” tactics along the Libyan coastline. But the outbreak of the Arab Spring in 2011 changed the strategy, as well as public attitudes. Waves of refugees risking their lives to make passage to Europe stirred global sympathy. In response, Italy suspended the pushback operations. Then a 2012 ruling by the European Court of Human Rights barred Italy from continuing the tactic. “We can’t have people fleeing war — young children, fathers, mothers — and drowning within sight of Europe,” said Leonard Doyle, spokesman for the Geneva-based International Organization for Migration. “It just isn’t acceptable.” After a shipwreck last October, in which more than 300 migrants died within a few hundred meters of the Italian island of Lampedu-

Where pushing refugees away is no longer acceptable.

sa, the government announced the creation of Mare Nostrum, its search-and-rescue program. With Italian leaders calling for help, European officials in August announced that Frontex would be expanded in November to include rescue efforts. But few details have been provided. Along the southeastern coast of Sicily, small cities have opened holding centers, including an abandoned school in Augusta that now houses unaccompanied teenage boys. Many of them had left Gambia, Ghana and even Bangladesh to work as migrants in oil-rich Libya. But as Libya has unraveled into anarchy, they

have feared for their lives. “They can kill you at any moment, any second,” said Ibrima, a 17-year-old from Gambia, who worked in Libya before paying smugglers to reach Italy in August. Asked why he had originally left Gambia, Ibrima lifted his shirt to show a scar. He said his father had two wives, and the second wife, jealous of Ibrima’s mother, doused him with scalding oil. “Here is now my country,” he said of Italy. “I want to stay here.” In Pozzallo, Mayor Luigi Ammatuna and his chief of staff, Virginia Giugno, spend much of

their time dealing with the bureaucratic and emotional tasks of migration. Ms. Giugno, who has two children, is now listed as the legal guardian of all the roughly 150 unaccompanied minors who have arrived in Pozzallo. “I can’t imagine what mothers and fathers go through when they put an 11-year-old boy on a boat and say, ‘Good luck,’ ” she said. “They know they will never see them again, that they may die at sea.” Death has become one of the city’s bureaucratic tasks. The recent funeral in Pozzallo was held outdoors because there were too many bodies to fit into the cemetery’s small chapel. Joining the officials were a few dozen local residents, including Claudia Scala, 42, who felt compelled to come since the families of the migrants could not be there. “These people have nobody,” she said. “So I thought, ‘At least they can have me.’ ”

A Veteran of Sydney’s Red-Light District Becomes an ISIS Leader By JANE PERLEZ

SYDNEY, Australia — In Kings Cross, this city’s red-light district, Mohammad Ali Baryalei was a bouncer patrolling the sidewalk outside the Love Machine club. His was a world of prostitutes, drugs, gambling. But a few years ago, Mr. Baryalei embraced radical Islam, then traveled to Syria, where he resurfaced as a lieutenant of the Islamic State. In September, he was recorded on a phone call telling a young Australian to carry out what the police described as a “demonstration killing” of a random person in Sydney. Mr. Baryalei’s phone call is one of the few known instances of the Islamic State attempting a terrorist act outside the Middle East. It set off the largest counterterrorism operation in Australian history, resulting in the arrest of a 22-year-old Sydney man. Prime Minister Tony Abbott said it showed “a knife, an iPhone and a victim” were the only ingredi-

Australian Muslims have been recruited to fight in Syria. ents needed for a terrorist attack. Days later, an 18-year-old man stabbed two counterterrorism officers outside Melbourne before one of the officers killed him. The police described the man as a “known terror suspect” who had been seen carrying an Islamic State flag at a shopping center. The two cases have prompted outrage here about Australia’s apparent status as the top source for foreign fighters in Syria outside the Middle East and Europe. More than a dozen Australians have been reported killed in fighting in Syria. The cases have also driven home concerns in Australia, and across the West, about the Is-

lamic State’s ability to send foreign fighters back to their home countries undetected to commit terrorist attacks. Intelligence officials say about 70 Australians are fighting as members of the Islamic State, typically disaffected young Muslim men. But it is not those on the battlefield who most worry the authorities in Australia. The government says it has also canceled the passports of more than 100 other Australians to stop them from traveling — for fear that they have been recruited by the militants — and put about 150 residents under surveillance. Some of them are former fighters who have returned from Syria in recent months. The numbers are fairly significant given Australia’s relatively small population of 23 million. Some who have been recruited in Australia are second-generation Lebanese, the children of refugees from the civil war in the 1970s who resettled here. Many

of these come from families that have built successful businesses. Since 2001, the country’s Muslim population has climbed nearly 70 percent, to about 500,000. But most Muslims live in neighborhoods with few non-Muslims. Public concern about the Islamic State’s ties to Australia has been amplified by photographs of an Australian man and a 7-yearold Australian boy in Syria, each holding a severed head. But it is the case of Mr. Baryalei, 33, that has captured the most attention. Law enforcement officials describe him as the highest-ranking Australian fighting with the Islamic State. Mr. Baryalei’s family fled Afghanistan in 1981 during the war with the Soviet Union months after Mr. Baryalei was born. The young boy had a tumultuous relationship with an abusive father, suffered from depression and performed poorly in school. He eventually drifted to Kings Cross, but at some point after

2009 he joined a Muslim group that preaches near university campuses and shopping centers. Mr. Baryalei’s initial contact with the militants appears to have been Hamdi AlQudsi, 40, a Sydney man arrested in December on charges of recruiting and helping seven Australian men travel to Syria. According to court documents, Mr. Baryalei traveled to Syria in April 2013 and was in regular phone contact afterward with Mr. AlQudsi. The police said Mr. Baryalei acted as Mr. AlQudsi’s key man on the Turkish and Syrian border. Mr. Baryalei’s phone call last month prompted the authorities to raid more than a dozen homes in suburban Sydney. Mr. Abbott has introduced legislation that would give the police and intelligence agencies greater powers of surveillance and detention. Dr. Rifi warned that the heightened monitoring of Muslim men could fuel further radicalization.

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The Ways Of Caves Catch On

Michelle Tam’s Paleospecific diet. Her recipe blog, Nom Nom Paleo, draws more than 100,000 page views daily.

Continued from Page 1 is endless.” Among the Paleo crowd, limiting one’s enthusiasm for Paleo to food is almost a novice maneuver. The basic theory of the socalled cave-man diet is that modern food, with its reliance on grains, starches, dairy and processed sugar, is not what the human body evolved to thrive on, and has contributed to widespread “diseases of civilization” like diabetes and heart disease. That is why leaders of the movement like Loren Cordain and Robb Wolf advocate a “wild” diet that falls roughly in line with that of those Paleolithic forager ancestors who had not yet learned to cultivate and eat grain, much less pry the lid off a can of potato chips. Paleo is not without its critics. Some nutritionists counter that verboten foods like grains, dairy and beans contain valuable nutrients. Elizabeth Kolbert, in a recent New Yorker magazine article about the diet, also pointed out that a meat-heavy diet has dire environmental implications. Still, converts often find that being Paleo quickly becomes a round-the-clock duty. That was the experience of Michelle Tam, a former pharmacist in Palo Alto, California, who has adopted a primal sleep regimen. It started four years ago, when Ms. Tam, now 40, tried the Paleo diet to combat sluggishness and excess weight. But it didn’t end when she shed the extra kilos, as she sought to reorder the rest of her life along those ancestral principles. She quit her hospital job and transformed herself. Her recipe blog, Nom Nom Paleo, draws more than 100,000 page views daily. And she has a cookbook, an app and action figure. Ms. Tam also found herself altering her sleep to become more Paleo. As Mark Sisson put it in his seminal 2009 book, “The Pri-

As teenagers set off for college, there is so much to be done: the packing, the organizing, the getting them there and settled in. But when the checklists are checked off LENS and the bustle dies down, parents are left with a question: What do we do now with this extra time and empty space? One thing parents should do, experts say, is recognize the loss and grieve properly. And this goes for men as well as women. Writing in The Times recently, Liza Mundy reflected on the subject after she and her husband returned from taking For comments, write to nytweekly@nytimes.com.

JASON HENRY FOR THE NEW YORK TIMES

mal Blueprint,” “our ancestors’ activity and sleep patterns were shaped by sunrise and sunset.” Ms. Tam decided to cut out all electronic devices after 8 p.m. If she has to check her iPhone, she wears amber goggles to block the blue-spectrum light that she believes interferes with her circadian rhythms. Next, she turned her bedroom into the equivalent of a Lascaux cave, installing blackout window inserts. But the lifestyle does not end when you roll out of bed. Vita Pedrazzi, a former fashion manager at Harrods in London who now lives in the Canary Islands, said she used to be the sort of beauty obsessive who would slap on makeup to take out the trash, in

A lifestyle that goes way back spawns a modern industry. part because of her sheepishness over her acne. But when the primal path inspired her to rid her bathroom of any product containing creepy-sounding chemicals, she adopted a zero-tolerance policy to any store-bought beauty product or cleanser — even soap. As she proudly related on her blog, Vita Lives Free, Ms. Pedrazzi, 30, now makes her own beauty products, including a “no-poo” shampoo method (baking soda and apple cider vinegar, with a few drops of jojoba oil for the tips as a leave-in conditioner), body scrub made from olive oil and brown sugar, and toothpaste made with coconut oil and baking soda, with activated charcoal

tablets for whitening. The preferred form of exercise for the Paleo tribe is CrossFit, a high-intensity workout that stresses Cybex-equipment-free motions like lunges and burpees, and the high-protein, low-carb diet of neo-cave men. For those who spend their day rearing children, the primal impulse has made major inroads into parenting, too. Websites like The Primal Parent extol cornsyrup-free candy, baby slings for “attachment parenting” and placenta-eating for new mothers. Unstructured play, in particular, has become a cherished concept. Primal parents are the polar opposite of the hyper-achievement-oriented “Tiger Mom” model. Instead of overscheduling her 5-year-old daughter with cello lessons and science fairs, Ms. Phelps, the Oregon freelance writer, plays with her in a muddy creek near their house. “Play is the method by which all mammals learn,” she said. But Paleos, too, know how to rage after the workday is done, even though liquor, logically speaking, should be off limits. For those looking to raise a glass, anything grain-forward, like beer, is typically out. But Paleos tend to look the other way on vodka (particularly potato vodka, which is free from all associations with gluten) and 100 percent agave tequila. The Paleo Strawberry Daiquiri, courtesy of Paleo Girl’s Kitchen on Pinterest, is made with organic strawberries, ice, freshsqueezed orange juice, rum and honey. It sounds pretty much like a regular daiquiri. In movements that require at least a dash of faith, however, sometimes it’s the spirit that counts.

A Spate of Suicides By Chinese Officials By DIDI KIRSTEN TATLOW

XIAOGAN, China — Li Haihua’s rise from poor farming boy to one of the most powerful officials in this city of one million people took decades, but his demise took seconds. A former deputy mayor, Mr. Li worked his way up through agriculture departments to become chairman of the city’s People’s Congress, which oversees local government. A position on Xiaogan’s Communist Party Committee cemented his power. One day in July, about 9 a.m., he leapt from his 11th-floor office in the city’s government headquarters, according to the police. With his death, Mr. Li, 56, joined a growing list of Chinese officials who have committed suicide, a trend that some researchers suspect may be linked to an anticorruption campaign begun last year by President Xi Jinping, the toughest in decades. About 30 officials have killed themselves this year, according to anticorruption researchers and local news reports. That equates to a rate of about 6.9 suicides per 100,000 officials per year. That is 30 percent higher than the overall suicide rate in urban areas of China, according to a paper by Paul Yip and others at the Center for Suicide Research and Prevention at the University of Hong Kong. In one recent case, a former deputy Communist Party secretary in Hohhot, the capital of the Inner Mongolia region of China, slit his wrists in his government office, the state media reported. “A lot of officials have varying degrees of corruption problems, and now the risk of being investigated is always there,” said Qi Xingfa, a researcher at Shanghai’s East China Normal University who studies suicide among officials. “They are reading about a case in the

For Parents, It’s Hard to Let Go their daughter to college. What struck her, she wrote, was that her mother-in-law had called to sympathize with her as a mother. But what about fathers? “The empty-nest transition is harder on fathers than conventional wisdom might have us believe,” she wrote. One friend who shed tears the night before driving his son to college told her, “I don’t think my dad, one of the Greatest Generation, did anything of the sort.” The difference these days is partly that many men are more open about having such emotions, and partly that they have had the benefit of playing a more active role in their children’s lives along the way. Since the 1960s, American men have nearly tripled the time they spend

with their children, from 2.5 hours a week to 7.3, according to Pew Research Center data cited by Ms. Mundy. And now there are many more ways for parents to stay connected to their children who are living away from home. Ms. Mundy’s husband, for example, now sends his daughter a brief email every morning. Then again, some parents not satisfied with a mere daily message are choosing a different approach: When their children move out, they move with them. Writing in The Times, Penelope Green explained that some parents are buying or renting houses or apartments to be close to their children at boarding school or college. “Families, particularly af-

fluent families, have the ability to be family-centered in their choices of where to live,” Ruth Kennedy Sudduth, director of the residential division for a high-end real estate brokerage, told Ms. Green. “It is a quest for meaning and a better life.” That does not mean these parents will still spend every weekend with their children, though. Nancy Garcia Ponte, of Rhode Island, moved into an apartment near the boarding school where her daughter is a freshman. The school encourages local parents not to spend time with their children for the first few weeks, to give them a chance to adjust to their new surroundings. “And they only get two weekends away per trimester,” Ms. Garcia Ponte said.

paper in the morning and by afternoon the official is in detention. It’s really frightening, and people don’t know if they will see the end of the day.” In Mr. Li’s case, investigators from the Hubei Province antigraft agency in the provincial capital, Wuhan, had been looking into his finances since February, according to news reports. The investigation was focused on real estate and agribusiness deals, some involving a younger brother who worked at a large food company, the reports said. Investigators had planned to arrest him at a meeting the morning of his suicide. He left a note saying he was suffering from ill health, the police said. But Pan Zefu, a journalist for The Paper, a new on-

Public shaming strikes fear into party leaders. line publication specializing in corruption, wrote that former officials in Xiaogan said the note also asked the Communist Party to forgive him and protect his family. About 32 senior officials a week were investigated or punished across China in the first half of this year, according to a report in the Yangcheng Evening News. The total may be in the thousands. Punishment often means long prison terms and, perhaps worse, public shame. Torture during interrogations is not uncommon, former officials and rights activists say. Liao Ran at Transparency International, a nongovernmental organization, said, “The attitude is still leniency to those who confess, severity to those who resist.”

Of course, if parents can’t get their children back in the house, there is another option: pets. This, Julie Salamon wrote in The Times, is how she ended up filling some of the emptiness in her home. Just days after their daughter left for college, she and her husband got a puppy. “The reason, I persuaded my husband, was to help her younger brother feel less alone — even though we already had two cats,” she wrote. They did not bring home another pet when her son left for college five years later (one cat and the dog still remained), but she held on to the feeling that animals can help a house in transition feel like home. “Now the dog and the cat crowd onto our bed, the way the kids used to,” she wrote. “Animals may not replace humans, but they fill the gaps people leave in their wake.” TESS FELDER

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In Putin’s System, Closest Friends Reap Richest Rewards Continued from Page 1 Putin’s brand of crony capitalism has turned loyalists into billionaires whose influence over the economy has helped him maintain his iron-fisted grip on power. Now the sanctions are testing the resilience of his economic and political system. Even as President Obama argues that the measures aimed at Mr. Putin’s inner circle are pinching Russia’s economy and squeezing the tycoons who dominate it, many of them have mocked the sanctions as a mere nuisance. “He has given and he has taken away,” said Mikhail M. Kasyanov, who served as prime minister during Mr. Putin’s first term. “They depend on him, and he depends on them.”

‘A Bouquet of Friends’ When the last Soviet leader, Mikhail S. Gorbachev, began to allow experiments in private enterprise in the 1980s, St. Petersburg was still Leningrad, an impoverished shadow of the czarist capital it had been. An early adapter was Yuri V. Kovalchuk, a physicist at the Ioffe Physical Technical Institute, who founded an enterprise to turn its scientific work into commercially viable products. Another was Gennady N. Timchenko, who formed a cooperative to export products from an oil refinery on the Baltic Sea. What brought Mr. Putin into their orbit was the fall of the Berlin Wall in 1989. After five years as a K.G.B. officer, he joined a new committee on foreign economic relations, and later the mayor’s office, that worked with emerging entrepreneurs, regulating trade and distributing city contracts. His fluency in German was useful with the many Germans seeking a foothold in St. Petersburg. Among them was Matthias Warnig, formerly of the East German secret police, who opened one of the city’s first foreign banks, Dresdner. Mr. Putin was, in short, both collecting new friends and laying the foundation for what would evolve into the system of personalized, state-sponsored capitalism now at the heart of his power. “It was a favorable environment for such a bouquet of friends to appear,” explained Mikhail I. Amosov, who served on the City Council. “Everything was decided through personal connections,” he said. “We didn’t like it.” One beneficiary was Bank Rossiya. The bank had been founded in 1990 at the initiative of the local Communist Party. But with the collapse of the Soviet Union, it was all but bust. In December 1991, Mr. Kovalchuk and a group of friends bought the foundering bank. The investors included three others from the institute — Victor Y. Myachin, Andrei A. Fursenko and Vladimir I. Yakunin. According to news reports, the city opened large accounts at the bank, setting it on its way. Mr. Timchenko, the oil trader, entered the Bank Rossiya circle Alexandra Odynova and Dimitris Bounias contributed reporting. Maria Goncharova contributed research.

ALEXEI DRUZHININ/VIA ASSOCIATED PRESS

Vladimir Putin has moved to prop up Bank Rossiya and others sanctioned by the West.

ALEXANDER ZEMLIANICHENKO/ ASSOCIATED PRESS

YURI V. KOVALCHUK $1.4 billion, according to Forbes.

NET WORTH

Chairman and largest shareholder in Bank Rossiya.

SERGEI KARPUKHIN/REUTERS

VLADIMIR I. YAKUNIN Unknown. 2013 salary: $15 million.

NET WORTH

Chairman of Russian Railways and an early investor in Bank Rossiya. as an investor. Mr. Warnig, the German banker, would later join Bank Rossiya’s board. And there was Sergei P. Roldugin, the director of the House of Music, a training academy for musicians. He had met Mr. Putin in the 1970s, and is godfather to his eldest daughter, Maria. His investment in the small bank run by men close to his old friend Mr. Putin, he said, involved “a lot of manipulations.” Today the bank lists him as owner of 3.2 percent of its shares. On paper, he has a fortune that could be worth $350 million. Mr. Putin’s stint in St. Petersburg ended in 1996, when his boss lost his bid for re-election. Soon Mr. Putin had a new boss, President Boris N. Yeltsin. And

SERGEI KARPUKHIN/REUTERS

GENNADY N. TIMCHENKO

ALEXEI NIKOLSKY/VIA ASSOCIATED PRESS

ANDREI A. FURSENKO

NET WORTH

$14.5 billion, according to Forbes.

2013 government income declared: $360,000.

Holdings in energy, chemical and construction companies, and Bank Rossiya.

Senior aide to President Putin and an early investor in Bank Rossiya.

MIKHAIL METZEL/ASSOCIATED PRESS

IGOR I. SECHIN Rosneft shares worth about $169 million.

NET WORTH

President of Rosneft, the state-controlled oil company, and a target of sanctions. after Mr. Yeltsin elevated him to prime minister and then acting president on New Year’s Eve in 1999, the fortunes of many of his friends — and their little bank — began to be transformed.

‘Bank Rossiya, That’s It’ Bank Rossiya’s holdings would increase tenfold during Mr. Putin’s second term. Critical to the growth was the bank’s ability to buy assets, at low prices, that had belonged to the state-owned energy company Gazprom. Those deals were documented in reports by Boris Y. Nemtsov, a former deputy prime minister, Vladimir V. Milov, a former deputy energy minister, and others. “The total value of the assets exfiltrated from Gazprom,” they

NET WORTH

CARL COURT/ AGENCE FRANCE PRESSE—GETTY IMAGES

MATTHIAS WARNIG NET WORTH

Unknown.

In the secret police in East Germany when Putin was stationed there for the K.G.B. estimated, was $60 billion. An early deal involved one of the country’s biggest insurers, Sogaz. Bank Rossiya bought a controlling stake in Sogaz paying around $100 million, according to Mr. Nemtsov and Mr. Milov, who later valued Sogaz at $2 billion. “Putin said, ‘Bank Rossiya, that’s it,’ ” Mr. Milov later told the Russian edition of Forbes. Sogaz became the insurer of choice for major state companies like Russian Railways, headed by Mr. Yakunin, and the growing oil giant, Rosneft, by then led by Igor I. Sechin, who had been Mr. Putin’s deputy in the St. Petersburg mayor’s office. Sogaz also bought 75 percent of a company called Leader that managed Gazprom’s $6 billion pension fund, Gazfond.

The purchase price was $30 million, less than Leader’s profits that year alone, according to Mr. Nemtsov and Mr. Milov. At the same time, Mr. Kovalchuk, the bank’s chairman, began assembling a media empire. “The first goal was political control of the media,” said Roman Pivovarov, a leading analyst of the Russian media landscape. “But that was achieved relatively early on. So this was as much about money. The picture today is clear, in that the big media belongs to the small circle of people who control not only the politics but the economics of Russia.” By 2008, Mr. Putin’s second term was ending and the Bank Rossiya media empire provided a supportive voice when he decided to serve as prime minister. Then, in 2012, Mr. Putin announced he would seek a third term as president. No one doubted he would win.

‘A Medium-Sized Bank’ The day after Mr. Obama blacklisted Bank Rossiya, Mr. Putin met with his national security council. Told that 20 people had also been sanctioned — including three security council members, his compatriots from St. Petersburg — the president said, sarcastically, “We should distance ourselves from them. They compromise us.” As for Bank Rossiya, he went on: “As far as I recall, this is a medium-sized bank. Personally, I did not have an account there, but I will definitely open one on Monday.” He later directed the presidential administration to begin depositing his official salary — roughly $7,500 a month — into a Bank Rossiya account. The president’s public gesture, Mr. Kovalchuk said in a rare television interview, had prompted a flood of new customers. Mr. Putin’s efforts to protect the bank were not just symbolic. He ordered the Central Bank to provide assistance if needed. And on April 10, the Market Council stepped in, shifting the business to Bank Rossiya. It is an open question how long the government can continue to prop up the institutions faced with sanctions. The European Bank for Reconstruction and Development recently predicted that, with the added impact of Western sanctions and Mr. Putin’s retaliatory embargo on Western goods, the economy could contract next year. The government recently announced it would pump $6.6 billion into two state banks whose access to foreign capital has been cut. And Mr. Sechin’s Rosneft has requested a $42 billion loan. For his part, Mr. Putin has denounced the sanctions as unfairly targeting people with no influence over Russia’s policies on Crimea or Ukraine. “Yes, these people are my friends and I’m proud to have such friends,” he said in May. “They are true patriots and their business is oriented towards Russia. Have these sanctions done damage to them? Yes, they have. If I’m being honest, they have. But they are seasoned entrepreneurs and brought all their money back to Russia, so don’t worry about them too much.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 6, 2014

MONEY & BUSINESS

Billions Of Buyers, But Less To Spend

NEWS ANALYSIS

An Evolving Picture For Globalization By EDUARDO PORTER

By STEPHANIE STROM

BANGALORE, India — When General Electric engineers here wanted to develop a more affordable baby warmer for India’s small, private hospitals, they initially replaced the fat, rubberized wheels standard on high-end models with smaller metal ones. They figured it was a quick, easy way to cut costs. But the wheels failed the field test. They caught on the uneven floors in rural health centers, toppling baby and mattress to the floor. Luckily, the baby was a doll. “You can’t take a product and simply strip it down and replace expensive parts with cheaper ones,” said Vikram Damodaran, director of health care innovations at Wipro GE Healthcare, which is based here. “It has to come from the ground up, with a lot of input from the people who might actually use it.” That is Lesson Number 1 in developing products for consumers who live on pennies a day in places like India. For years, multinational companies had little interest in lower-end consumers, figuring no money was to be made. Now, those consumers are increasingly attractive to all types of industries, from consumer product makers to technology businesses. Google just announced plans to sell a stripped-down, cheaper version of its Android phone in India. A decade ago, C.K. Prahalad, a University of Michigan business professor, in his book “The Fortune at the Bottom of the Pyramid,” detailed the potential, contending that such households were every bit as discriminating and aspirational as their counterparts at the other end of the income spectrum. Mr. Prahalad, who died in 2010, estimated there were four billion such consumers in a market worth $13 trillion. “People were saying, ‘There’s a fortune to be made. Let’s go,’ ” said Mark B. Milstein, director of the Center for Sustainable Global Enterprise at Cornell University in Ithaca, New York. But many of the first efforts failed. “There was not much thinking about what those consumers needed or wanted or how they might be different from consumers with more disposable income,” Mr. Milstein said. For years, Procter & Gamble tried to sell a water purification system — a packet of powder that is mixed in water, which is then strained through a cloth. While it cost pennies, consumers had no idea how to use it. Procter & Gamble decided educating consumers about the product would be too expensive, and the system, Pur, became a philanthropic effort. “A lot of times a product we take for granted may be wholly unknown to consumers in this market,” Mr. Milstein said. “If a

SAM PANTHAKY/AGENCE FRANCE-PRESSE—GETTY IMAGES

Designing products for poorer consumers is good business for General Electric, which built a center in Bangalore. Above, a street market in India. JYOTHY KARAT FOR THE NEW YORK TIMES

housewife has never used a water purification system before, she may ask herself why she needs it.” There were challenges. Distributing goods to the tiny shops that serve poor Indian consumers, for instance, is vastly different from getting products into Walmart or convenience stores that use technology and warehouses to manage inventory. Companies often forget to consider whether consumers want or

The market for cheaper products is huge, and profitable. need a product with too many accessories. A phone with a built-in camera, for example, makes little sense if a family does not have access to the Internet. Pricing, too, can be complicated. D. Shivakumar, chief executive of PepsiCo’s India business, said companies often focused too much on how little poor consumers had to spend and developed products to fit that budget. Instead, he said, it is important to determine how to give them the best at a price they can afford.

For Nokia, the trick was persuading component suppliers to cut prices. “In order to do business in phones priced below $40, you have to have a scale that’s powerful enough to negotiate component prices to match those prices,” said Sami Ranta, vice president for affordable phones at Microsoft, which owns Nokia. “You also have to sell a lot of phones.” So was born the Nokia 105, used by Rajesh Gupta, a tuk-tuk driver in Varanasi, and legions of other Indians living in slums. The phone, which Mr. Gupta bought for about $20, has a dustand splash-proof keyboard, flashlight, alarm clock and FM radio. Now Nokia is selling the 105 in Austria, Britain, Denmark, Switzerland and other developed countries, as well as across Africa and Asia. General Electric realized more than a decade ago that products devised for the Indian market might appeal to developed markets, and planted the company’s first international research and development center here. The lab has 4,500 engineers, 1,600 of whom work on health care innovations. “There has been a shift,” said Shyam Rajan, chief technology officer at Wipro GE Healthcare. “Before, it was in India for India. Today, it is in India for the world.”

Not long ago, executives at the Dutch multinational Royal DSM, a maker of nutritional supplements and high-tech materials, used to require a battery of internal studies to decide where to do a deal or locate a new manufacturing plant. But today, “we won’t even do the study,” said Stephan B. Tanda, who is responsible for the Americas. “It’s clear it will be the United States.” The United States, he said, has lots of cheap natural gas and a very lightly regulated labor market. At the same time, China, where Royal DSM has some 40 plants, is losing its edge. “It is less attractive than it used to be as a source from which to serve the world,” Mr. Tanda said. Of the $3.6 billion in acquisitions by Royal DSM since 2010, 80 percent has been in the United States. Could globalization make a U-turn? Over the last year or two, business analysts have been arguing that we are entering a new era of global manufacturing, with the United States at center stage. Last month, the Boston Consulting Group, a business advising firm, said the United States had the lowest manufacturing costs among major exporters in the developed world and was nearly competitive with China. “I don’t agree that China’s moment is coming to an end,” said Karl P. Sauvant at the Columbia Center on Sustainable Investment. “The most important determinant of investment is market size and market growth, and China remains a big market.” So what if workers in China’s coastal areas are becoming more expensive? The country will make more sophisticated stuff. Indeed, countries tend to trade more as their incomes converge, not less. Manufacturers seeking cheap labor still have plenty of places to go, like Vietnam, Bangladesh, Mexico or even China’s heavily populated hinterland, which will benefit from Beijing’s huge investments in infrastructure connecting it to the coast. There are dynamics that could put a real dent in glo-

balization. If energy prices take off again, that will favor regional rather than global production networks. Intellectual property piracy in China might temper multinational corporations’ appetite to invest in advanced industries there. Perhaps China’s rising costs will finally provide a break to American workers who have been losing ground to a once-bottomless pool of cheap workers. Still, Richard Baldwin of the Graduate Institute of International and Development Studies in Geneva said the convergence in incomes driven by the fast industrialization of China and some other countries like Brazil and India is unlikely to stop soon. In 1988, the share of world income held by the seven richest nations peaked at twothirds. By 2010 it was down to half. It is, Mr. Baldwin propos-

America has cheap fuel and a flexible labor force. es, “likely to continue to sag for decades.” Evidence that globalization might be going into reverse is hard to find in the data. Global foreign direct investment flows remain substantially below the record $2 trillion of 2007. But last year they rebounded 9 percent, to $1.45 trillion, according to United Nations data. More than half went to developing countries and China received $124 billion, nearly a record and roughly 50 percent more than six years ago. Even if the United States draws a larger share of global manufacturing, lots of highwage jobs are unlikely to follow. James B. Rice Jr. and Francesco Stefanelli at the Massachusetts Institute of Technology looked at some 50 American companies that have said they were bringing jobs home. Most have yet to make any move. Mr. Rice said, “We don’t think that’s really what’s happening.”

SHEPHERD ZHOU / EUROPEAN PRESSPHOTO AGENCY

Rising wages in China have pushed more companies to locate plants in the United States. A factory in Wuhan.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, OCTOBER 6, 2014

Sanctity of Truth

SCIENCE & TECHNOLOGY

The Cars Today Are Talking to Us By PHIL PATTON

Your car has something to tell you: Hello. And goodbye. Today’s automobiles are raising lights like stage curtains, playing little movies on our screens and serenading us with melodies. “We call it the welcome-farewell experience,” said Parrish Hanna, Ford’s world director of human-machine interaction. “It can be an emotionally resonant experience.” Designers are carefully orchestrating the experience of slipping behind the wheel. This has become more like entering a room than taking control of a machine, with hints of changes to come that may alter the driving experience profoundly. For some vehicles, saying hello is simple. The Honda Odyssey and Hyundai Santa Fe display the words “Welcome” and “Goodbye” on their screens. Others show more attitude: As you leave one of Ford’s hybrids, you get a digital note of appreciation: “Thank you for driving a hybrid,” the screen says. In luxury vehicles, there is more: Colors and textures on screens match the leather and wood of the interior, and logos or images appear with an animated splash. Door handles illuminate when the car senses one’s presence. Cabin lamps rise and fall like footlights on stage; needles on instruments snap to attention. A few years ago, a driver was greeted with a nagging chime that warned of an unfastened seat belt. But now many cars have sound themes, like Microsoft’s Windows. The Cadillac ELR, a hybrid coupe, plays a welcoming theme

CHRIS MORRIS

part Hollywood soundtrack, part jet-plane swoosh. The latest fashion among luxury vehicles is the puddle lamp. Several luxury models greet drivers and passengers with “welcome mats” of light. The Range Rover Evoque projects the company logo on the pavement. Kia has a sound called “The Rise of Surprise” and other sounds linked to safety and convenience features. The company says the sound is intended to create a positive “emotional trigger” and future models will have variations of it. At Hyundai, designers try to reflect the brand and the character of the vehicle in the greetings,

said Derek Joyce, a company spokesman. “We try to make sure it matches the personality of the vehicle,” he said. “An economy car might be cheerful, while in the Equus the sound would be more classical and mature.” But often, cars end up sounding like computers or robots. That should come as no surprise, said Dan Saffer, an interaction designer in San Francisco. “Cars have secretly been robots for a long time,” he said, adding, “The trick now is having the personality in not just the body of the car, but also in the behavior of the car.” In a survey asking how well people liked their computers, one

Orchestrating the moment of slipping behind the wheel. group filled it out on their own computers and another on different machines. The “like” percentage was higher for those who used their own computers. People, the late Clifford Nass, a researcher at Stanford University, concluded, did not want to hurt the machines’ feelings. “Although it may seem ludicrous, humans expect computers to act as

though they were people,” he wrote. Perhaps future cars will greet us with something like Siri’s “How can I help you?” Several carmakers seem to suggest this, by signing on for Apple’s Carplay or Android’s rival system. Mr. Saffer says the ideal car would know our preferences and act like a personal chauffeur. Such a car would recall the design ideal of Dieter Rams, the Braun designer who inspired Apple. “Never forget that a good product should be like a good English butler,” Mr. Rams said. “They’re there for you when you need them, but in the background at all other times.”

Childhood Diet Habits Are Set in Infancy, Research Finds Exposing infants to a variety of fruits and vegetables as they make the transition to table food is seen as crucial to good eating habits.

By CATHERINE SAINT LOUIS

Efforts to improve what children eat should begin before they even learn to walk, a series of nutritional studies published recently has found. Taken together, the data indicate that infant feeding patterns persist far longer than has been appreciated. “Our early taste preferences, particularly for fruits and vegetables, and on the flip side for sugary beverages, are lasting,” said Dr. Elsie M. Taveras of MassGeneral Hospital for Children in Boston, who was not involved in the new research. The package of 11 studies was published in the journal Pediatrics. Investigators tracked the diets of roughly 1,500 6-year-olds, comparing their eating patterns to those observed in a study that followed them until age 1. Previous research has shown taste preferences are developed in infancy. Yet until now it was unclear how infant diets influence what children prefer to consume years later, once in school. “When infants had infrequent

KEVIN FRAYER/GETTY IMAGES

consumption of fruits and vegetables, they also had infrequent consumption at 6,” said Kelley Scanlon of the Centers for Disease Control and Prevention and one of the authors. Dr. Scanlon’s findings emphasize the importance of exposing infants to a variety of fruits and vegetables as they make the transition to table food. Catherine A. Forestell, an associate professor of psychology at the College of William

and Mary in Virginia, said it is crucial for parents “not to be deterred by an initial negative response.” In a 2007 study by Dr. Forestell, infants who were offered green beans wrinkled their noses. But they willingly opened their mouths to try another spoonful if parents persisted, she said. One study in the new series found that babies who consumed any amount of sugar-sweetened beverages were two times more

likely to drink them at least once daily at age 6. Another study found infants ages 10 to 12 months who were given sugar-sweetened beverages more than three times a week were twice as likely to be obese at age 6 than those who consumed none as infants. Dr. Sohyun Park of the Centers for Disease Control and Prevention and one of the authors said 27 percent of the infants had been fed sugar-sweetened beverages.

Some experts argue that parents lack consistent guidance on how to interest infants in unfamiliar, often bitter vegetables. The task is made tougher by the fact that infants do not need repeat exposures to become enamored of sweet and salty foods. “We don’t do a very good job of teaching parents about good nutrition in infancy,” said Deanna Hoelscher of the University of Texas School of Public Health. Still, all is not lost for parents who failed to feed their infants puréed green beans, Dr. Forestell said. But there is a catch. Children tend to sample, say, brussels sprouts more readily when they see adults eating them, too. “It’s not just changing your children’s diet,” she said. “It’s changing the whole family’s.”

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, OCTOBER 6, 2014

ARTS & DESIGN

Museum’s Worldview Overlooks the Local By HOLLAND COTTER

ASPEN, Colorado — The trend in boutique museum building reached a chilly, sun-gilded peak a few years ago and has leveled out, at least in the United States. These days we mostly get unsexy makeovers and add-ons, and the critical conversation has moved on. Still, celebrity commissions appear. Last month, a new home for the Aspen Art Museum designed by the Japanese architect Shigeru Ban, winner of the 2014 Pritzker Prize, made its debut. The building has its virtues, and they are not small; it also embodies some of the absurdities and contradictions that have given “starchitecture” a bad name. Yet the Aspen museum itself as an institution — which is modest in size, collects no art and has free admission — offers, at least potentially, a working model for what a new kind of 21st-century museum could be. The particular setting in this case is a promising one. Aspen, set high in the Rockies, is physically gorgeous. Socioeconomically, it’s a very strange place. Founded as a gold-and-silver mining camp in the 19th century, it is now a perch for a significant percentage of the financial elite. Dozens of Forbes 400 billionaires own property here. Given that some of those billionaires — Gustavo Cisneros, Leonard Lauder, etc. — are major art collectors, it makes sense that the town, despite its remoteness and primary identity as a ski resort, should have an art museum, though the one that exists today is quite different from what it once was. The original Aspen Art Museum opened in 1979 in a one-gallery space in a repurposed hydroelectric station. For years most of the exhibitions were of local artists, including student shows. With the arrival of Heidi Zuckerman Jacobson as director and chief curator in 2005 that identity changed. She organized shows

By ALEXANDRA ALTE

When John Ashbery, the Pulitzer Prize-winning poet, first learned that the digital editions of his poetry looked nothing like the print version, he was stunned. There were no line breaks, and the stanzas had been jammed together into a block of text that looked like prose. The careful architecture of his poems had been leveled. He complained to his publisher, Ecco, and those four e-books were immediately withdrawn. That was three years ago, and digital publishing has evolved.

Billy Collins’s ‘‘Aimless Love,’’ on Kindle before, near right, and after a redesign.

by young East and West Coast figures, with some international artists. After assembling a supportive board, she proposed moving and expanding the museum. In 2007, it commissioned Mr. Ban. At that point he had never built a permanent museum. His reputation rested mainly on his imaginative designs for temporary, disaster-relief housing using cheap, recyclable materials: hollow cardboard tubes, treated paper, canvas tarps, plastic sheeting. He had applied this technology to shelters for victims of catastrophes in Africa, India and Japan. The building he has delivered is a curious one, ugly-beautiful: A three-story glass cube enclosed in thick latticework of waterproofed paper. Where some viewers will see the inspiration of Japanese basketry, others will see a grim, squat cage. The building is shoehorned into a tight corner lot at a downtown intersection, emphasizing both the structure’s nearly 3,066-square-meter bulk and its cultural estrangement from the Victorian-style build-

Aspen’s new museum, designed by Shigeru Ban, shows off his penchant for using recyclable materials.

PHOTOGRAPHS BY MICHAEL MORAN/OTTO; TOP LEFT, TONY PRIKRYL

ings around it. The interior, by contrast, is conventional, with three levels of plain white-box galleries topped with a restaurant and terrace with a ski-slope view. Signature elements of Mr. Ban’s disaster designs — molded paper outside, cardboard tubing inside — have been incorporated throughout. And one of the building’s several inaugural shows, “Shigeru Ban: Humanitarian Architecture,” seeks to associate the museum with the architect’s many relief projects. The exhibition is gripping, with photographs and full-scale

examples of tent-like structures he’s made for hard-hit places around the world, from Rwanda to New Orleans. But it has no substantive relationship to the $45 million building it’s in. Paper and tubing are often merely decorative detail. The Aspen Art Museum’s founders were wise to create a noncollecting, community-serving museum on the classic European kunsthalle model, a model that assures that even residents of small cities have access to art. And a kunsthalle like the Aspen Art Museum should make room for artists closer to home,

E-Books Evolve, to Get Poetry Right Publishers can now create e-books that better preserve a poet’s meticulous formatting. So when Open Road Media, a digital publishing company, approached Mr. Ashbery about creating electronic versions of his books, he agreed. Poetry publishers are scrambling to carve out a place in the digital market. In 2013, publishers released about 2,050 poetry e-books, up from about 200 in

PHOTOGRAPHS BY WILLIAM P. O’DONNELL/THE NEW YORK TIMES

2007, the year the first Kindle came out, according to Bowker, which tracks releases. Of all the literary genres, poetry has proved the most resistant to digital technology for tricky mechanical reasons. Most e-readers mangle the line breaks and stanzas. As a result, many publishers have held back on digitizing poetry, and works by some major poets still are not available as e-books, including Ezra Pound’s “The Cantos” and poems by Jorie Graham, Tracy K. Smith and Czeslaw Milosz. “The line is the unit in which poetry is communicated, and the technology of most e-books is unfriendly to that unit,” said Jeff Shotts of Graywolf Press. Some publishers hand-code poetry e-books so that line breaks

Taking into account the careful crafting of a poem’s lines. and stanzas are maintained; others have resorted to using PDFs, or static files, to reproduce digital images of elaborately shaped poetry. Digital poetry is still dwarfed by print, and some writers and publishers question whether there is much demand for poetry e-books. “A large percentage of poetry readers are fetishistic and like holding the physical book,” said Michael Wiegers of the nonprofit Copper Canyon Press.

and in so doing help break up the longstanding art-center hegemony. Not all such institutions need the $74.6 million that Ms. Jacobson has raised for her museum. Indeed, an argument could be made that modest can be better for art, encouraging chance-taking. Still, whether there is money or not, what’s needed first is the will to believe, the will to treat local — what’s here — as big league instead of perpetuating the myth that innovative, important and valuable can emerge only from somewhere else.

Some poets have insisted that publishers add disclaimers to their e-books. Billy Collins, a former poet laureate of the United States, made that request a few years ago after seeing how changing the font size on an e-reader “threw the poem out of kilter,” as he put it. His e-books now carry a warning that certain functions of an e-reader can change the “physical integrity of the poem.” “The first impression you have of a poem is looking at the shape on a page,” Mr. Collins said. “A poem has a sculptural integrity that is not registered on any e-reader.” The poetry of Mr. Ashbery, who uses complex indentations, was difficult to digitize. “The impact of a poem very often comes down to line breaks, which publishers of poetry often don’t seem to find as important as the people who write the poems,” he said.

Life | In The City

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Horn-free day: We want to reduce noise pollution in Lagos, says Opeifa Comrade Kayode Opeifa is the Commissioner for Transport in Lagos State. In this interview with MURITALA AYINLA, he speaks on the newly introduced horn-free day in the state and other strategies towards improving transportation in the state. Excerpts: The Lagos State Government recently announced plans to introduce a horn-free day starting from on October 15, 2014. What is the reason behind the Lagos horn free day? Horn free day idea came up as a kind of a challenge by Governor Babatunde Fashola at the 13th annual council meeting of transportation where, in his opening speech, he alluded to the fact that our society will be better if the citizens show much respect for road users, show more respect for traffic laws and if they appreciate that vehicle is an asset that is used according to the manual. He cited an example of horn which people use as a result of just not being patient enough or out of rage or a sign of showing one is in a hurry and in the process, just end up creating disturbance in the society. Since then, we have been working hard to ensure that we have a beautiful campaign that could be sustained and allow for voluntary compliance. So, we set a target of a minimum of four million people, comprising 2 million vehicle owners and another 2 million of drivers that are resident in Lagos. The horn is an integral part of the motor vehicle. It is a critical part that is fitted into the vehicle to alert and caution other road users as to the presence of that particular motor vehicle, so as to allow for everybody to maintain their lane and take their appropriate share of the road space. However, if is not properly used, it has a lot deleterious effect. Some of these deleterious effects could include noise pollution, distraction, creation of panic and it could even lead to medical bad condition. It is not just damaging eardrum, but could also aggravate high blood pressure. It could include the adrenalin level and subsequently make the other person or even yourself to overreact. Indiscriminate use of horn while driving is also lack of respect and patience for other road users and it is even a sign of lack of respect for the driver and his or her vehicle. The attitude also demonstrates lack of respect for the road infrastructure. This is because you should know that even when you speed, there is traffic light to stop you. So, you make attempt to get out of the road with the usage of horn indiscriminately as a result of impatience. Arbitrary usage of horn while driving is a sign of indiscipline and it shows that such a driver is not disciplined enough. It shows that the driver is not disciplined enough to be contented with the particular place you are. It is also a sign of lack of courtesy. Even very late in the evening, you hear horn. This is as a result of discipline. You see somebody crossing the road and start horning; it demonstrates that you don’t have courtesy. It shows you are impatient. It is also a sign of unfriendliness to the road, the road users and the vehicle you are driving. It is a clear indication that such driver is not defensive. Some Nigerian motorists believe the horn is fitted in their vehicles to harass people. Also, if you have respect for the way you use your horn and somebody is coming and he wants to hit you and you are on

your lane, you have the right to call his attention that he is leaving his lane to hit you. But if you are behind him, why do you want to call his attention to cause panic? There are times you can use it. For instance, if he wants to run into a ditch, you use it to call his attention. But if you don’t use it the way it should be used, you may create another panic and the person is scared and eventually loses control. But what is the main goal or objective of the campaign against indiscriminate use of horn in the state? So, what we want to achieve by the current campaign is to put up a campaign for voluntary compliance and encourage people to use the horn only when it becomes inevitable to use horn and if we can achieve that, we would have reduced noise pollution. The cascading effect of the reduction of noise pollution is that it will create awareness that noise is bad. Then it will move down to your houses. When you are now watching TV or playing radio, you will appreciate there is a neighbour beside you that you don’t need to disturb. If you are able to do it on your road, it will cascade to your bedroom, sitting room, your compound, your street and then, if you are very religious in the mosque or church, your will be mindful of your noise. It is necessary to call to prayer but if the noise goes to miles away from your mosque, where people can’t come to pray, then what is the value? What is the essence of making your prayer point at the night vigil known or heard to other neighbours? So, it will cascade to the bus stop. Danfo drivers will get to know that there is no need shouting Ojuelegba! Ojuelegba!! Ojuelegba!!! Will the commercial drivers comply with this directive? Indiscriminate use of the horn is disturbing and distractive; it is interesting to let you know that our motor parks have started putting up banners which read: “A day without horn in Lagos 15 10, 2014”. They are already buying into it. But reactions have continued to trail the declaration of the horn-free day by the state government. Many still strongly believe that it is not feasible. How do you intend to achieve this? You know Nigeria believed it is impossible to annul election until General Babangida did it. Nigerian believed that it is impossible to kidnap until some people did it. Those are extreme negative things. How much more positive things? Nigerian believed it is impossible to use seat belt while driving before. Now hand washing has become a norm. It took Nigerians Ebola Virus Diseases outbreak before we uphold the practice of regular hand washing. Some people had to experience Okada accident before they realised how bad okada is as means of transportation. I tell you what is possible. I have travelled outside this country. I don’t remember I have ever used horn while driving abroad. Yet, I ‘m a Nigerian. The gene that runs in me is a Nigerian gene. When Nigerians get out of the country, they learn how to do the right thing. The practice will be adopted because

Opeifa

people now respect zebra crossing, people now maintain their lane while driving on the Third Mainland Bridge. I believe it will work. I believe Nigerians, Lagosians especially, are the best set of people to work with. I believe Lagosians respect this government and when we bring out any policy, they comply because of the level of acceptance they have in our government. What are the gains in the horn-free day? What this initiative will do is that it will change the behaviour of drivers; they can learn how to drive without horn. That is lesson number one, apart from the fact that it will eradicate noise pollution due to the indiscriminate honking while driving. In the last five minutes, that we have begun this interview, I have heard over 30 horns. What are the measures put in place to ensure compliance? What we want members of the public to do on their own part is to avoid the use of the horn, siren as much as they can. We want them to do is to be tolerant, cautious, patient and be road user-friendly and obey traffic rules and regulations. By the time they do all these, they will have done all that we want them to do. How will October 15, 2014 be like in Lagos, will you be on the road to monitor will uses horn? There will be 1,000 LASTMA and Vehicle Inspection Personnel on the road, monitoring the horn. They will have a paper and take record of the horn each person makes per day while driving and that will give us the level of effect on whether it has reduced or not. If private vehicle owners comply, how will you check or monitor compliance on the part of Danfo drivers? Look, private vehicles owners have

not brought out their banners to sensitise the public. Danfo drivers have. Private vehicle owners are busy twitting us, telling us about their readiness while the danfo drivers are busy and communicating with their people on the need to comply with the directive. All our drivers are safe. It is true that when they drive yellow buses, they tend to behave otherwise, but believe it, we have done a lot to change their attitude. As soon as we do the uniform for them, people will see that they are nice people. It is just that sometimes, when people get out to the street, they get agitated, stressed-out and allow the condition to influence their behaviour. They drive up to six to seven hours; they believe they need to be in a hurry to make money. By the time we fully normalise this sector, much more will be seen. Have you dropped the idea of introducing uniform for the commercial drivers and conductors for 2015 general election? No! Not at all. In fact, they need it for 2015. They are saying they want it before the general elections. So, what is delaying the implementation? It is the logistics. We are on the logistic. The logistics is not as simple as we think. People will sow different kinds of uniforms and the colour will be different, if care is not taken. Whose company, agency will be responsible for the making of the uniforms for the drivers? Lagosians will make them. Is any government’s official’s private company taking the contract for the uniform on behalf of the state government? Go and investigate it. Lagosians will take contract for the sewing of the uniforms. I’m sure it will generate employment for more residents in the state. We are not involved in that.

The Mega City

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

UPCOMING EVENTS

Lagos Veg Fest

Organiser: Veggie Victory Date: October 10 - 12, 2014, 10:00 AM - 10:00 PM Venue: Freedom Park Lagos Hospital Road, Lagos Island, Lagos, Nigeria.

Young, Outstanding & Unique (Y.O.U) 2014

Organiser: BDIVAconcepts lntl Date: October 11, 2014, 8:30 AM to 5:00 PM Venue: 17, Olu Adebayo Street, Savage St Oke Afa Bustop, Oke Afa ,Isolo Lagos, Nigeria.

MEGA CITY EVENTS:

Donate or Sponsor

Organiser: Ashani Media Group Date: October 6- November 6, 2014, 08:00 - (BST) Venue: Lekki Phase 1, Lekki, Lagos, Nigeria.

Eliza’s Beauty Make Up School

Organiser: Eliza’s Beauty Service Date: Second Monday of every month: 11:00 AM to 2:00 PM Venue: Plot 235, 11 Road, A Close Junction off Gemade Estate, Ipaja, Lagos, Nigeria.

My City, My World Lagos is my passion Oluwatosin Omoniyi emi Carena, a politiFbred cian was born and in Lagos. He

is a bona fide omo Eko, (Lagosian). He loves Lagos because it is very accommodating and sociable. “For me, Lagos is about passion and not ambition,” he said. Even non-indigenes holds a Carena political title in Lagos and are not discriminated against, according to him anytime one enters Lagos, it is 24 hours bubbly.” Lagos, according to him, is a mini-Nigeria. “It is the cultural melting pot. People come from all over West Africa to do business in Lagos. “It is the commercial nerve centre of Nigeria.” For Carena, life outside Lagos is a waste of time. As such, he cannot exchange L-R: Lagos State governorship aspirant, Jimi Agbaje; celebrant/ living in Lagos for anywhere in the world. “I can L-R: Prof. Toyin Ashiru; Senator Olorunnibe Mamora and Tunji Ex-speaker, Ogun State House of Assembly, Hon. Titi Oseni and go anywhere for holiday, but I can’t exchange Alapini. living in Lagos for anywhere in the world,” he former Oyo State Governor, Alao Akala. said. Carena attributes the uniqueness of Lagos to traffic and the hustle and bustle. The beauty Wedding ceremony of Mr. and Mrs. Irene Damope of Lagos, he added, is that it is the commercial nerve centre of West Africa, “and that is the main attraction to Lagos.” Another attraction, he noted, is the abundance of freelance job in Lagos. He explained that no matter how bad and tough, it is, there is always a way out for people in Lagos, as long as that individual is not lazy. Carena, however, said Lagos is a mega city that lacks basic infrastructure in terms of transportation, mono-rail, water, and low-cost housing. However, he prays for a visionary leader for Lagos State. The leader, he explained, should be able to spin Lagos around to a 24 hours mega city and be able to harness the tourism potential of the state. He emphasised that Lagos can become a Dubai if the leader builds on the tourism aspect of the L-R: The couple, Mr. and Mrs. Ayodamope Adigun; Groom parents, state. Epe, for instance, he noted, is a treasure Prof and Mrs. Adigun Agbaje and Mr. Folu Olamiti. waiting to be explored. “I want a 24 hours mega PHOTO: ADEYANJU OLOWOJOBA city like other developed cities like Paris, Dubai L-R: Prof. Femi Bamiro; Prof Adigun Agbaje and Mr. Folu Olamiti. e.t.c. By turning 24 hours, it reduces crime and Second City People Political Excellence Awards 2014 boosts the economy,” he said. Titi Oseni’s 50th Birthday in Lagos

Lagos has a big heart Giwa, founder of ‘3rd Tlyoun Age Initiative for ElderRight and Welfare’,

Former Ogun State Deputy Speaker, Hon. Ayo Odugbesan; former Central Bank of Nigeria Deputy Governor, Mr. Tunde Lemo and Otunba Tope Tokoya.

L-R: Former Super Eagles Coach, Samson Siasia; Nollywood actor, Emeka Ike; Abia State Youth Leader on Political Matters, Great Imo and former sprinter, Mary Onyali.

Head, The House of Cedar Church, Ado Ekiti, Pastor Afolayan Daniel, Special Adviser on Communications and Strategy, Kwara State, Hon. Raheem Adedoyin and the founder, Leadership Newspaper/ APC presidential aspirant, Mr. Sam Nda-Isaiah.

L-R: Former Ogun State Governor, Otunba Gbenga Daniel; exchanging pleasantries with Nda-Isaiah, while Hon. Segun Seriki looks on.

PHOTOs: ADEYANJU OLOWOJOBA

likes the city of Lagos because of the cosmopolitan view. According to her, Lagos sets the pace. “It is a state that other states wants to be like,” she said. For her, Lagos is a social centre; there is diversity of fun at different levels Giwa in the state and there is security consciousness. “We hear more of accident than robbery incident and that is because of people’s carelessness,” she said. As much as Giwa loves going abroad, she said she can’t live there because she will miss the city of Lagos. She pointed out that there are varieties of standards of living in Lagos which is what makes life interesting in the state. She also said that Lagos is a place anyone can survive as long as that person is not lazy. She added that Lagos is very accommodating and tolerant; it is like United Kingdom and New York and that is why people rush to Lagos. “Lagos has a big heart,” she said. Giwa, however, thanked the governor of the state for having the political will power to turn around the state for good in terms of discipline, policy and infrastructure. She believes the people are feeling the ripple effect of his good governance.

Business | News

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Nigeria’s exports hit N8.24tr in 12 years COMMON TARIFF

ECOWAS plans to introduce a common external tariff in January 2015 Bayo Akomolafe

igeria recorded N8.24 trillion from its noncrude export between 2002 and March 2014. The country’s exports in 2011 were N2.65 trillion but it began to soar when Nigeria’s non-oil exports suddenly rose to 117, from 106 reported by year-end 2012. Non-oil exports totaled $2.97 billion in 2013, recording 16 per cent increase from $2.56 billion documented in 2012 Data from the Nigerian Export Promotion Council (NEPC) revealed that 126 companies, mostly small and mediumscale enterprises (SMEs) exported non-oil to some countries. In the first quarter of 2014, exports of manufactures and industrial products by Nigeria reached N254.7billion in two months. Some of the export

L-R: Lagos State Governor, Babatunde Fashola; Chief Strategist, Chain Reactions Nigeria, Israel Jaiye Opayemi; Managing Director, Grenadines Homes, Mrs Noimot Olatunji and Chief Executive Officer, 3Invest, Ruth Obih, during the Real Estate Unite Property Conference in Lagos.

products include leather, rubber, wood and articles of wood, charcoal, plastics cocoa, prawns and fish, cashew nuts, aluminium, gum arabic, edible fruits and copper. It would recalled that exports in Nigeria increased to N128.40 billion in March 2014 from N126.30billion in Febru-

ary, 2014. The Central Bank of Nigeria (CBN) data for 2014 first quarter revealed that manufactures and industrial products accounted for 77 percent of total non-oil exports. The data noted that non-oil products accounted for just 5 percent of total annual Nigerian

exports in 2013 on a balance of payments basis. Nigeria’s main exports partners are: USA (30 percent), Equatorial Guinea (8 percent), Brazil (6.6 percent), France (6 percent) and India (6 percent). But despite the improvement, FBN’s Purchasing Managers’ In-

dex released this month explained that the Economic Community of West African States (ECOWAS) did not offer attractive export markets, as non-tariff barriers and the modest level of integration within the region were not encouraging pointers. However it said the community planned to introduce a common external tariff in January 2015. The research and finance firm noted that a 5 percent rate for raw materials and capital goods, 10 percent for intermediates and 15 percent for finished consumer goods would be applied. However, it was not clear whether the tariff would be implemented on schedule. “We do not expect significant export diversification. Nigeria’s economic model is based upon supplying domestic demand, mostly unmet, and manufacturing policy upon import substitution. “The reading for new orders fell sharply from 62 to 57 in September. The number of respondents reporting higher orders secured 36 percent, compared to 50 percent in August,” the report added:

Cashless: Paga targets 2m customer base ACCESS

Till date, over 3,000 businesses have already signed up for Paga’s payment offerings Kunle Azeez

ne of the Central Bank of Nigerialicensed mobile money operators, Paga, has hinted that with over five years of operations in the mobile payments market, its customerbase is rapidly approaching the two million mark. The company stated this during the launch of its new suite of businessfocused service line, in line with its continuous move to drive the cashless economy policy of CBN. The solution christened ‘Paga for Business’ is a one-stop-shop solution for any business looking for a smart way to collect payments from its customers in person,

online or remotely from anywhere in the world. The company, in a statement, also said that the payment solution, suitable for large to small businesses, also allows businesses to disburse cash to any phone number or bank account and to disburse airtime to any phone number in real-time. Paga which has been in operation since 2009, is an indigenous company focused on delivering efficient payment solutions to all Nigerians, whether individuals or businesses. The introduction of solutions aimed solely at businesses, is the next step in Paga’s evolution towards solving the payment challenges of Nigeria. Speaking at the launch of the new payment solution, co-founder and Head of Agent Network and Business Sales at Paga, Mr Jay Alabraba, said: “With over five years experience within the mobile payments market and a customer base rapidly

approaching the two million mark, we believe that as a payments platform.” He said Paga had already demonstrated its ability to accurately assess the payment challenges facing not just consumers but businesses nationwide; and provide innovative solutions to address them. “Best of all our offering is easy to use and has zero setup costs,” he said. The initial offerings within Paga for Business are a robust online payment gateway, “Paga e-Pay”, and a web-based, real-time payment solution “Paga Bulk Pay”. Paga e-Pay allows any business selling online to accept payments from customers with a Paga account, MasterCard, Visa, or Verve. The gateway is free to setup and businesses can view their transactions in real time online. Paga’s disbursement solution, Paga Bulk Pay, allows businesses, irrespective of size to send cash to a large number of recipients anywhere

in the country either to their bank account directly or to the recipients phone number. Also, those, who receive money via their phone number, can pick up at Paga agents nationwide or select Automated Teller Machines (ATMs) without a card. The solution also allows businesses to send airtime to a large number of recipients on all mobile networks. Founder and Paga Chief Executive Offcer, Mr Tayo Oviosu, said: “As is our approach at Paga, we have created a suite of offerings by listening to our customers. To date, over 3,000 businesses have already signed up for our business offerings.” According to him, “from global brands such as Emirates Airlines who use Paga’s payment gateway to accept payments from customers purchasing a plane ticket with a debit card or Paga account, to local businesses such as FoodPro who use Paga to disburse payments to

staff at their cashew processing facility in Ilorin. We will continue to build on our current offering and expect to announce additional products to our suite soon.” With the rapid growth of Small and Medium Enterprises (SMEs) and online commerce within the economy, Paga said it believes using technology to create payment solutions that are low cost, convenient for entrepreneurs and most importantly accessible for their customers is the key to boosting economic development within our emerging economy. “With its industry experience and through its in-house innovation labs “Paga labs” the company’s aim is to constantly develop and deliver on new and beneficial services to both individual consumers and businesses alike. The introduction of Paga for Business can only be an added bonus to the fastest growing mobile payments company in the country,” the company said in the statement.

Business | Money Line

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Interbank rates ease as CBN pays off matured T. bills

the benchmark interest rate to support the falling naira currency. The naira has been slipping for the past three weeks, weakened by declines in global oil prices and low inflows of hard currency into Nigeria’s debt and equity markets. “The impact of the falling naira is weighing on the bond market... some investors believe the central bank could hike interest rates to stem the rapid depreciation of the local currency,” one dealer said.

• Bonds rise by 20 basis points the apex bank opened in surplus of around N560 billion at the weekend, compared with around N300 billion the previous week. The open buy-back rate eased by 25 basis points to 10.25 percent at the last weekend compared with 10.50 percent penultimate week, 1.75 basis points below the central bank’s benchmark interest rate of 12 percent. Overnight placements remained unchanged at 10.50 per cent, the same level as penultimate week. Traders said rates should climb marginally this week with the banking watchdog expected to enforce its cash reserve requirement on bank balances next week, while possible cash flow to foreign exchange purchases could also curb liquidity. Meanwhile, yields on the nations bonds climbed by around 20 basis points across the board, caused by selling pressure from some offshore and local pensions. That trend is expected to continue this week according to Reuters Traders said some investors were selling off their bond positions over concerns that the banking watchdog could hike

LIQUIDITY The money market opened with a cash balance of N516 billion

igeria’s interbank lending rates eased marginally to an average of 10.37 percent at the last week, down from 10.50 percent penultimate week, after the government paid off open market treasury bills and retired matured bonds, dealers said. The Central Bank of Nigeria (CBN) repaid about N308 billion ($1.88 billion) in matured open market bills, while the debt office retired N100 billion in matured bond last week, boosting liquidity and lowering the cost of borrowing among lenders. The market according to Reuters, opened with a cash balance of around N516 billion made up of government budgetary allocations, oil company cash call payments and matured open market bills, before it paid off treasury bills during week, dealers said. Lenders’ cash balance with

IMF frets over sustained slow global growth

head of the annual International Monetary Fund (IMF/World Bank) meeting this week, IMF Managing Director, Christine Lagarde warned at the weekend that the global economy could be sinking into a prolonged period of “mediocre” growth, which could endanger efforts to bring down unemployment worldwide. Lagarde, who was guest speaker at Georgetown University in Washington, DC, said that the world’s economy has weakened in the past six months, despite the efforts of leading central banks to boost activity with ultra-low interest rates. She also warned that the Ukraine crisis, the deadly Ebola outbreak in West Africa, and Middle East turmoil posed additional threats to the world’s economy. Without more active stimulus from governments themselves, the managing director of the Fund said, there is “the risk that the world could get stuck for some time with a ‘mediocre’ level of growth.” That imperils efforts to

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

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Yields on the most active tenor 2022 rose to 12.65 per cent, higher than 12.28 per cent at the weekend. The 2024 bond closed at 12.56 percent, up from 12.39 per cent, while the 2034 bond closed at 12.43 per cent compared with 12.29 per cent. The apex bank kept its benchmark interest rate at 12 percent at its last meeting on September 19 on concerns over increased liquidity and rising inflation in Africa’s biggest economy.

Bid 163.4000

Offer 163.5000 Source: FMDQ

bring down the number of unemployed worldwide, some 200 million people, including 75 million youths. “Six years after the financial crisis began; we see continued weakness in the global economy. Countries are still dealing with the legacies of the crisis, including high debt burdens and unemployment,” she said. Furthermore, she insisted: “If people expect growth potential to be lower tomorrow, they will cut back on investment and consumption today. “This dynamic could seriously impede the recovery, especially in advanced economies that are also grappling with high unemployment and low inflation. This is the case for the euro area.” Lagarde said the IMF is forecasting “only a modest pickup” for next year, and that governments need to do more, with better-targeted spending and “growth-friendly” reforms. In addition, more public investment in infrastructure would improve economies, acting as “a powerful impetus for growth and jobs.”

Bank CEO to auditors: Tackle emerging e-fraud trends

he Group Managing Director of Union Bank Plc., Mr Emeka Emuwa, has challenged Internal Auditors in the banking industry to brace up to tackle emerging trends in electronic fraud, which have become a real threat to the survival of the sector. Addressing members of the Committee of Chief Internal Auditors of Banks in Nigeria (CCIABN) at their 28th Quarterly Meeting hosted by Union Bank in Lagos, Mr Emuwa acknowledged that e-fraud was not just a Nigerian problem but a global challenge. As such, it required an “all hands on deck” approach to proffering proactive strategies, realigning processes and devel-

oping realistic action plans to curtail the menace. Emuwa, who was represented by Executive Director, Corporate and International Banking at Union Bank, Emeka Okonkwo, said: “While winning the war against cybercrime seems like a daunting task, it is not an impossible one and would require key stakeholders to effectively work together to surmount the challenge.” He therefore urged the Committee to continue to foster collaboration within the banking sector and enjoined Internal Auditors to constantly upgrade their skills, knowledge and techniques to ensure that the right level of assurance is provided always.

Business | Issue of the Week

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Ease of doing business: The moral lessons Abdulwahab Isa Abuja

or the third consecutive time, the World Bank has demonstrated through its numerous assessment reports its unwavering commitment to see Nigeria improve substantially in her quest to reducing burgeoning poverty index. In the World Bank’s estimation, it’s an outright case of misnomer for a country hugely endowed with abundant human and natural deposits to be conspicuous in every poverty assessment report. And poverty, a development of income inequality in a given society, can be corrected by enthroning deliberate social policies aimed at strengthening the imbalances. One of such means of righting the mistake include, creating a conducive environment that will encourage thriving of micro, small businesses. To assist the country achieve growth, reduce the unemployment and ultimately as a means of addressing the poverty level, the bank initiated a data – ‘Doing Business in Nigeria,’ which it measures and assesses bottlenecks that a typical businessman desirous of setting up business faces. Doing business In 2008, the World Bank unveiled quantitative indicators on business regulation for 10 local locations in Nigeria including commercial city centers. The startup gave impetus to the project and by 2010; the bank expanded the analysis to all the 36 states including the Federal Capital Territory (FCT ) in Abuja. In each state, the report measured the largest business city. Instructively, the report, which is aimed at job creation and increased non-oil growth in specific high potential value chain sectors, focuses on states of the federation including FCT, on their simplicity, complexity of doing businesses. The report investigates regulations that enhance business activities and those that constraint it. Regulations affecting four stages of the life of a business are measured at the subnational level- starting business, dealing with construction permit, registering property and enforcing contract. According to the global bank, the four indicators were selected because they cover areas of local jurisdiction or practice. The indicators were then used to analyse economic outcomes and identify what reforms have worked, where and why. Top performers In continuation of Doing Business report series, the World Bank last week, launched ‘Doing Business in Nigeria’ 2014. The report indicated that positive improvement had been recorded in some sectors and by extension some state governments. The study, which benchmarked four regulatory areas such as starting a business; dealing with construction permits; registering property and enforcing contracts, also measured the progress made by the respective states since January 2010 when the last benchmarking exercise was conducted.

Minister of Finance, Okonjo-Iweala

The report listed five states - Ogun, Cross River, Ekiti, Niger and Rivers that had continued to implement business regulatory framework. The five states towered above other 30 states benchmarked by the World Bank and were adjudged to have simplified the process of doing business in Nigeria. According to the report, from 2010 till date, the country recorded 34 improvements in its Ease of Doing Business Index, of which 13 focused on starting a business, eight on dealing with construction permits, 10 on registering property, and three on enforcing contracts. Speaking during the public presentation of the report in Abuja last week, World Bank Country Director, Nigeria, Ms Marie Francoise Marie-Nelly, said 22 states in Nigeria had recorded significant improvements in their Ease of Doing Business ratings within the period under review. The states are: Anambra, Bauchi, Bayelsa, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Imo, Jigawa, Kaduna, Katsina and Lagos. Others are Nasarawa, Niger, Ogun, Ondo, Oyo, Plateau, Rivers and Zamfara states. Out of the 22, which recorded significant improvements in their Doing Business indices, Cross River, Niger, Ogun, Rivers and Ekiti states made more progress than others. Reactions Instructively, the report by the World Bank has been described as an unbiased assessment of business environment that prevailed in 36 across Nigeria. While kudos and thumb up were accorded the five states rated exceptionally for easing the process of doing business, other states have been enjoined to initiate measures that will to loosen up the bottlenecks. The elation that goes with such positive endorsement accorded by the World Bank to the five states of Ogun, Cross River, Ekiti, Niger and Rivers, was captured by Ogun State governor, Senator Ibikunle Amosun. Amosun expressed happiness. Brief-

MInister of Trade and Investment, Olusegun Aganga

ing members of the State Executive Council and Body of Permanent Secretaries on the report, he thanked all officials of the government for their contributions to the on-going development in the state, which had attracted the attention of the World Bank.

In the World Bank’s estimation, it’s an outright case of misnomer for a country hugely endowed with abundant human and natural deposits to be conspicuous in every poverty assessment report

Way forward There is a moral lesson to be learnt by all states including the federal government on 2014 doing business report. One of such lessons is that, any state with strong determination could change the face of doing business in its domain by evolving policies that will enhance businesses to grow, thus creating more jobs for its teeming unemployed youths. Take Ogun State as an example. Ogun was one of the lowest ranked overall performers in both 2008 and 2010, but due to conscious effort by the government, the state is one of the top reforming states in 2014. The World Bank does not fail in recognizing genuine efforts made by some state especially states in some part of the country in spite of security challenges. It also slammed nine undisclosed states which it said had made processes of business more cumbersome, slower or less affordable for entrepreneurs. Experts and analysts have posited that states that found themselves on the lower ladder of the World Bank ranking, have much to learn from states that received endorsement. For instance, the Bank noted that, Abuja and Lagos were among the top performing states on the ease of starting a business, but ranked in the bottom two positions on ease of dealing with construction permits. The World Bank report on ease of doing could be said to be very timely and decisive. Coming at a period the nation is on the verge of conducting a general elections to usher in another democratically elected leaders, the next crop of elected leaders are expected to leverage on recommendations of the Bank to bring economic succour to the states.

Business | Stock Watch

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Transcorp: Investors bank on earnings’ growth OUTLOOK

In a filing with the Exchange, the group posted profit before tax (PBT) of N8.02 billion for the six months ended June 30, 2014, a 122 per cent increase from N3.61 billion achieved during the corresponding period in 2013. The group’s operating profit for half year 2014 was N9.75 billion, an increase of 145 per cent compared with corresponding period in 2013, while gross revenue for the group stood at N21.21 billion, which represents 177 per cent growth from half year 2013 results of N7.67 billion. Total assets grew by six per cent from N149.64 billion for full year 2013 to N158.18 billion for six months ended June 30, 2014. Commenting on the results, the President and Chief Executive Officer, Transcorp, Mr Obinna Ufudo, said: “Our half year results for 2014 consolidates the significant growth achieved in first quarter 2014 and firmly sets us on course for the attainment of FY 2014 financial targets.

Investors’ appetite is driven by future prospects of hotel subsidiary

Chris Ugwu

hile it was accepted generally that the overall economic and business climate in Nigeria has been a mixed due to mounting economic challenges, Transcorp Nigeria Plc has fairly maintained an upward trend in its share price and financials. Notwithstanding the difficult business environment, the company broke the jinx of non-dividend payout with the payment of N1.9 billion dividends to shareholders for the 2013 financial year, making it the first in history since the company was quoted in the Nigeria Stock Exchange (NSE). The group had sustained its financial performance through innovative and proactive responses to market dynamics and competitive pressures. Market watchers believe that the relative patronage on the stock could be adduced to the high liquidity of the shares due to confidence investors have in the company occasioned by on-going expansion and diversification in the company, especially in Transcorp Hotels (THP) Plc, a hospitality subsidiary of the conglomerate. They also credited the patronage to the growth prospect of the group in the medium term following the N8 billion Initial Public Offering (IPO) of the hospitality firm, which opened recently for subscription to the investing community. The group’s interest in oil and gas, power and agribusiness, among others the factors said to be driving the demand for shares of the company. The offer is said to have excited investors owing to strong financial performance of the subsidiary for the year ended December 2013. The hotels reported a profit after tax of N4.41 billion, a growth of 51.5 per cent, when compared with N2.91 billion recorded in the same period of 2012. The turnover firmed up from N13.3 billion in 2012 to N15.3 billion in 2013, while earnings per share rose to 882 kobo from 582 kobo in the preceding year. The group has continued to retain the number two position among industry competitors listed on the conglomerate sector, in terms of share price, which financial analysts believe will be sustained in the next few years. Although trading activities have continued to oscillate between bullish and bearish performance for most part of the year, the company’s shares are said to have witnessed a complete turnaround and transformation since 2013, as Heirs Holdings became a strategic shareholder under the chairmanship of Mr Tony Elumelu. Despite the recent lull in the market following massive profit taking that saw the market lose considerable chunk of investors’ wealth, Transcorp’s share price, which closed at N3.56 per share on November 31, 2013, stood at N5.79 when the closing bell rang last Friday.

Ozigbo

The group recorded an increase of N2.23 or 38.5 per cent year to date. Corporate profile Transnational Corporation Plc was incorporated on November 16, 2004, as a private sector response to the economic reform initiative of former President Olusegun Obasanjo’s regime. At the beginning, Transcorp was modelled after the South Korean “Chaebols.” These Chaebols were powerful global multinationals owning numerous international enterprises. Listed on the NSE in 2006, the company has a shareholder-base of about 300,000 and operates as a diversified investment company by investing in companies focused on hospitality, agribusiness and energy. Group financials A cursory look at the figures showed that the group whose profit before tax rose by 129 per cent from N3.9 billion in 2012 to N9.0 billion in 2013, continued upbeat with a 278 per cent growth in profit after tax in its first quarter 2014 earnings. The group’s profit after tax (PAT) grew by 278 per cent from N834 million in Q1 2013 to N3.15 billion in the first quarter ended March 31, 2014. Gross earnings for the group stood at N11.15 billion, which represents 152 per cent growth from Q1 2013 results of N4.42 billion. Total assets also grew by 16 per cent from N149.64 billion for full year 2013 to N173.61 billion for the first quarter ended 31 March 2014. The trend continued through the half year as the group posted a 122 per cent growth in profit for the half year ended June 30, 2014.

Share price movement of Transcorp Nigeria Plc 2013 Nov 30

N3.56

Dec 31

N4.35

2014 Jan 31

N3.92

Feb 28

N4.00

Mar 31

N3.76

Apr 30

N3.45

May 30

N3.90

Jun 30

N5.05

Jul 31

N5.50

Aug 29

N6.1

Sept 30

N5.80

Oct 3

N5.79

Recent strategic plan As a part of the company’s growth strategy, Transcorp Hotels is undergoing an Initial Public Offering (IPO) to raise fresh funds from the capital market to support the development of two hotels in Ikoyi, Lagos and Port Harcourt, Rivers State. THP is offering eight hundred million (800,000,000) ordinary shares of 50 kobo each at N10.00 per share valued at N8 billion for subscription. The offering, which commenced on September 25 and expected to close on October 17, 2014, will be followed by a listing of the entire shares of the company on the Exchange. Transcorp Hotels will focus on Nigerian expansion in the short to mid-term and thereafter develop a strong African footprint in high population and competitive cities. Over the next five years, the company will take a phased approach in developing high-end hotels and apartments in prime locations, including Ikoyi, Port Harcourt and Abuja. In addition to the new developments, the Transcorp Hotels has also commenced the facelift of the Transcorp Hilton Hotel, Abuja, with a view to consolidating its position as the premier hotel destination in Nigeria. This will involve the modernisation of the hotels’ core facilities for which the company plans to spend approximately $57.5 million (N9.2 billion) over the next three years. The funding for this will be sourced from the company’s internal operating cash flows. At the “Facts behind the offer” presentation recently at the Exchange, MD/ CEO Transcorp Hotels Plc, Mr Valentine Ozigbo, said: “The Nigerian hospitality industry is fast becoming more competitive with the presence of international brands in recent years. We have a strong brand and success story in Nigeria as well as good long-term relationships with established suppliers in Nigeria. These, coupled with our partnership with the Hilton Worldwide for management of our facilities, opens up a large opportunity for our proposed developments in the high density areas of Nigeria to attract a considerable portion of business travel and tourist traffic, which should translate to adequate guest patronage.”

Business | Capital Market Report

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

OPTIMISTIC

The stock market closed on positive track

Chris Ugwu

espite the downward movement of the Nigerian equity market during the last two trading days of last week, the bulls maintained their grip on the market, as bargain hunters struggled to take positions. Analysts said that the resilience of the bulls to sustain market rally was testimony that investors’ confidence is returning to take advantage of the undervalued stocks notwithstanding security challenges that threatens investments in the country. They had predicted that the uncertainty surrounding the market following the massive sell-off that most blue chip companies witnessed during the third quarter, would be over and stability would return, following investors’ appetite to leverage on prospective stocks. Cumulatively, the NSE All-Share Index and Market Capitalisation rose by 0.70 per cent to close last Friday at 41,103.94 and N13.572 trillion respectively. Consequently, five indices appreciated during the week with the exception of the NSE Insurance Index (-0.51 per cent), NSE Lotus II Index (-0.36 per cent) and NSE Industrial Goods Index (-0.32 per cent). Gaining streak Trading activities on the floor of the Nigerian Stock Exchange (NSE) began last Monday on a positive note, as bullish tendencies sustained rally to dominate trading activities. The NSE ASI and market capitalisation increased by 0.69 per cent, as market sentiment remained on the green zone. Transactions in the shares of Nestle Nigeria Plc and Guinness 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 particularly drove the two companies. Consequently, at the close of business, market capitalisation increased by 0.69 per cent or N94 billion from N13.478 trillion traded penultimate Friday to N13.572 trillion last Monday. Also, the NSE All Share Index (ASI) appreciated by 285.66 basis points or 0.69 per cent to hit 41,105.38 index points from 40,819.72 points recorded in the previous day. Further review of the day’s trading showed that investors bought 274.02 million shares worth N4.7 billion in 4,567 deals. Further analysis indicated that Nestle Nigeria Plc topped the day’s gainers table with N45.00 to close at N1,100, while Guinness Nigeria Plc followed with N9.50 to close at N199.50 per share. Dangote Cement Plc trailed with a gain of N2.00 to close at N222.00 per share. On the flip side, Mobil Nigeria led the losers with a drop of N3.96 to close at N172.04, while Unilever Nigeria shed N2.30 to close at N46.90. On the activity chart, the banking sub-sector dominated in volume terms with 93.4 million shares worth N1.6 billion in 1,517 deals. The sub-sector was enhanced by the activities in the shares of Zenith Bank and GTB Plc. Stocks advance further The bulls, last Tuesday strengthen their grip on the market activities, caus-

Nigerian stocks rebound on positive sentiment

NSE trading floor

ing bargain hunters to jostle for shares on the back of blue chip companies. Analysts said that the resurgent of the bulls to sustain market rally after weeks of loss was an indication that confidence is returning to market despite security challenges that threatened investments in the country. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.25 per cent, as market sentiments extended gaining streak following investors’ high optimism. Consequently, the All-Share Index gained 104.72 basis points or 0.25 per cent to close at 41,210.10 as against 41,105.38 recorded at the previous day, while the market capitalisation of equities appreciated by N35 billion or 0.25 per cent, as market sentiment remained on the green territory. Meanwhile, a turnover of 1.07 billion shares worth N8.8 billion in 4,894 deals were recorded in the day’s trading. Banking sub-sector of the financial services sector was the most active (measured by turnover volume); with 764.3 million shares worth N4.1 billion exchanged by investors in 1,502 deals. Volume in the sub-sector was largely driven by activities in the shares of Skye Bank Plc and Zenith Bank Plc. Bears return Trading activities on the floor of the Exchange closed in the red last Thursday, as the bears fought back to cull gains recorded the previous day. The return of bearish sentiment was on the backdrop of the bargain hunters jostling to take profit, which consequently lead to price losses suffered by major blue chip companies. Specifically, at the close of transactions, the banking sub-sector of the financial sector returned as the most active stock in volume terms with 289.3 million shares valued at N3.3 billion in 1,922 deals. Shares of Skye Bank Plc and Zenith Bank Plc activated the sub-sector. Other financial services sub-sector enhanced by the shares of FBNH Plc followed with a turnover of 104.6 mil-

Five most capitalized stocks@ Oct 3, 2014 Dangote

N3.7tn

Cement Plc Nigerian

N1.3tn

Breweries Plc Guaranty

N883.2bn

Trust Bank Plc Nestle

N832.2bn

Nigeria Plc Zenith Bank Plc

N762.9bn

lion units valued at N1.07 billion in 804 deals. On the whole, investors exchanged a total of 673.9 million shares valued at N6.3 billion in 4,967 transactions. Further analysis showed that at the close of trading session, the NSE AllShare Index was down by 74.35 basis points or 0.18 per cent to close at 41,135.75, as against 41,210.10 recorded the previous day, while market capitalisation depreciated by N25 billion or 0.18 per cent to close at N13, 582 trillion in contrast to N13.607 posted the previous day. The number of gainers at the close of trading session closed at 29 while decliners closed higher at 25. Full service financial solutions provider, Stanbic IBTC Holdings, rose by N1.40 to close at N35.00. Also, Beta Glass Plc advanced by N1.15 to close at N20.00, while Unilever Plc added N1.14 to close at N47.99 per share. Shares of consumer goods company, Nestle Nigeria, declined by N39.97 to close at N1, 050.03 to lead loser’s chart, while manufacturer of alcoholic drinks, Guinness Nigeria Plc, receded by N10.74 to close at N204.24. Seplat Petroleum slid by N5.00 to close at N640.00 per share. Negative sentiment The equities market’s decline persisted for the second consecutive day, as investment levels continued to decline. The NSE ASI and market capitalisation slid by a marginal 0.07 per cent. The NSE Consumer Goods Index also fell by 0.53 per cent atop shares of Guinness Nigeria, Nigerian Breweries and PZ Cussons. Also, the NSE Banking Index dipped by 0.17 per cent, as shares of Guaranty Trust Bank and Zenith Bank nosedived. Consequently, the All-Share Index dropped 31.81 basis points or 0.07 per cent to close at 41,103.94, as against 41,135.75 recorded at the previous day, while the market capitalisation of equities shed N10 billion or 0.07 per cent, as market sentiment remained on the red territory.

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

LASACO restates commitment to customer satisfaction p.37

Insurance Minister to intervene in insurers’ tax burden More tributes for Olowude p.37

DISCOURAGEMENT

A quick look into unfavourable government policies will curtail foreign investors’ reluctance to venture into the country’s business environment

Sunday Ojeme

inister of State for Finance, Ambassador Bashir Yuguda, has promised to intervene in the overbearing tax burden on the underwriting industry, which has been on since 2007. Yuguda, who made the promise when a delegation from the Nigerian Insurers Association paid him a courtesy visit in Abuja last week expressed surprise that such a law had been in existence since 2007 without any concrete move to address it. He therefore promised to give his support to the association and provide the political push to help the insurance industry solve the problem. He said: “I am surprised that this law has been in existence since 2007. Yes, government wants income from taxes, but not taxes that will kill businesses. Once I have your position paper on this matter, I will set up a committee and I promise to give it my support and the needed political push to ease the process of addressing the issues you have raised.” The Companies’ Income Tax Act (CITA) 2007 places a heavy tax burden on insurance companies operating in Nigeria, thus making it unattractive to investors. NIA Chairman, Mr Godwin U.S Wiggle, while briefing the minister on the issue, said that the obnoxious law placed a cap on expenses and claims payable by insurance companies, adding that it was discouraging foreign

direct investment in the insurance sector. Wiggle who also used the occasion to congratulate the minister for the national honours bestowed on him by Presidenty Goodluck Jonathan, urged him to assist the insurance industry by setting in motion the process of amending the law to reflect present day realities and in line with global trends and best practice. He said: “We are here to congratulate you on the conferment of the national award as Commander of the Order of Niger (OON) by President Goodluck Jonathan. I must say that it is a well-deserved award given your rich background and antecedents. “While congratulating you, I wish to take this opportunity to draw your attention to the crippling effects of CITA 2007 on insurance business. The law expects insurance companies to pay 20 per cent of their premium as tax irrespective of expenses or losses incurred. We believe that it is not only punitive, it is also anti-investment.” The NIA chairman supported his position with a brief presentation highlighting critical sections of CITA 2007 for the minister’s attention. According to the presentation, Section 14(7) of the Companies Income Tax Act (CITA) 2007 as amended, restricts the number of years which an insurance company can carry forward its tax losses to four years; Adoption of different basis for the computation of minimum tax payable by insurance companies as specified in Section 14(8)(b) and Section 14(9) (c) of CITA 2007 differs significantly from that adopted for other Nigerian companies; Section 14(8)(a) prescribing percentage basis of calculation of reserves for unexpired risks for tax purposes rather than time apportionment which is prescribed in Section 20(1)(a) of the Insurance Act 2003; and Section 14(8)(b) of CITA

amendment provides for the restriction of other reserves, claims and outgoings for the purpose of computing taxes payable by insurance companies Wiggle, therefore, implored the minister to convene a meeting of key stakeholders which will include the Federal Inland Revenue Service (FIRS), the National Insurance Commission (NAICOM),

Federal Ministry of Finance and the NIA with a view to critically assess the relevant provisions of the Act and make recommendation on the way forward. In his contribution, the Commissioner for Insurance, Mr Fola Daniel, appealed to the minister to assist the insurance companies resolve the issue of heavy taxation placed on

them by the law. He said: “I will very much appreciate your intervention sir. We have tried so much in the past but we have not been able to make much headway on the matter. I am sure that with your intervention, there will be light at the end of the tunnel. We will be grateful if the Hon Minister will do this for the insurance companies.”

Members of the Governing Council led by the NIA Chairman, Godwin Wiggle, pose for photograph with the Minister of State for Finance, Ambassador Bashir Yuguda (CON) and Commissioner for Insurance, Fola Daniel, when NIA Chairman and members of the Council paid a courtesy visit to the Minister of State for Finance in Abuja.

Zimbabwe insurer eyes Nigerian market

Zimbabwean insurance fir m, ZIMRE Holdings Limited, is warming up to join the league of foreign underwriters who have invested in Nigeria’s insurance market where the sector is rated at US $1.5 billion (over N200 billion). ZIMRe Chief Executive Officer, Albert Nduna, said that his flourishing company was exploring partnerships as it prepared to establish a presence in the West African country. “We want to go to Nigeria and have identified people who have $100 million. They want somebody who runs. We bring a bit of capital and management. We say we are there, use us,” Nduna said. Nigeria has become Africa’s biggest economy since May, overtaking South Africa, which

used to boast the status of being the continent’s largest economic powerhouse. Nduna said for his company to make an impact in Nigeria, it had to inject “millions of dollars.” He said that the Nigerian insurance sector grew by 15 per cent last year with a penetration ratio of 0.5 per cent. Nduna disclosed that apart from being headquartered in Zimbabwe, his company had presence in Botswana, South Africa, Uganda and Zambia. In the past, Nigeria has enjoyed a warm partnership with some foreign underwriters. The partnership show that apart from Metropolitan Life of South Africa that owns 50 per cent equity in UBA Life, UK-based Old Mutual also boasts of 80 per cent stake in the life arm of

Oceanic Insurance while another subsidiary of Old Mutual equally took 80 per cent share in the general arm of Oceanic Insurance. Further breakdown also revealed that companies from Germany and other European countries have taken up 80 per cent stake in former Guaranty Trust Assurance that has been renamed Mansard. Not left out in the scramble for the booming local insurance market is a company from Ivory Coast that has taken 95 per cent equity holding in ADIC and subsequently changed the name to NISA. In the league are also Salam and another operator that took up 50 per cent shares each from FBN Insurance, which was changed to FBN Life and Prestige Assurance respectively.

Business | Insurance

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

More tributes for Olowude LEGACY

The insurance industry will continue to benefit and develop from the chieftains’ immeasurable wealth of experience

he death, last week, of one of Nigeria’s biggest insurance icons, Chief Remi Olowude, is still taking its toll on the industry as stakeholders have continued to express grief over the sudden loss. In the latest outpouring of grief and tribute, the Executive Secretary, Nigerian Council of Registered Insurance Brokers, Mr Tope Adaramola, said that Olowude’s death devastated many Nigerians, especially members of the insurance community. Olowude died last week in a United States hospital after a protracted battle with cancer. Describing the late insurer as a man who bestrode the insurance industry like a colossus, he said that it was painful that a chapter had been closed in the history of the Nigerian insurance industry and the financial services sector in general. He noted that Olowude always came across as a man who was approachable, witty and generous in all dimensions of life. You cannot miss his

L-R: Company Secretary/Legal Adviser, Royal Exchange Plc, Sheila Ezeuko; Chairman, Kenneth Odogwu; and Group Managing Director Chike Mokwunye, at the company’s Annual General Meeting in Lagos.

boldness, frankness and crave to do things differently, virtues which he horned since his tutelage at the then octopus NICON Insurance Corporation.” According to him, at NICON, young Olowude showed irrepressible traits of an upwardly mobile executive who was not content with the arm chair disposition of most insurance practitioners of yesteryears. Despite his scholastic inclination that put him on the threshold of a Doctoral degree in Econometrics at the University of Santa Clara, USA, after obtaining a glowing Master of Science de-

gree in Economics from the University of Lagos, Olowude amazingly gave in to the allure of being an insurance practitioner with distinction. He brought his robust multi- disciplinary background to bear on the underwriting world. Not the type to be twined in the then pervasive conservative cocoon, Olowude pioneered IGI Insurance Company Limited as a wholly private company, a feat that was an uphill task in those days. He said that against all odds, IGI opened the flood gate for other corporate initiatives, while the company in itself

became one of the templates for modern day insurance operation. In his words, Olowude, without doubt, brought dynamism and candour to the insurance industry and regardless of divergent opinions that people at some point may have about him and his style, it is an inimitable fact that Olowude was a leader in the conjectures of J. C Maxwell who connected superbly with his workers and subordinates or followers. “Through his large heart and affableness, Olowude turned IGI into an academy of

some sort, with a strong nexus connecting his employees even when they may have left the company. Personally, Olowude’s large heart comes to play in the recruitment of insurance professionals from diverse backgrounds who he may have met in the course of his work life. “It is therefore not strange for the ‘human products’ of IGI to be seen dotting the landscape and holding commanding heights in the nation’s politics and economy. “Among the notable ‘products of IGI’ are the present Deputy Governor of Osun State, Mrs Laoye Tomori and the Commissioner for Education in Lagos State, Mr Bisi Oladunjoye, to mention but a few. There is definitely no way the history of the Nigeria’s industry into foreign markets would be told without a mention of Olowude’s IGI. “The company opened the flood gate of insurance operation to Uganda, Sudan, the Gambia and Ghana before other companies followed. Rightly, he may be regarded as the avantgarde of Nigerian insurance expansionism.” He added that despite his love and deep passion for the insurance industry, Olowude made impressionable landmarks in other avocations, notably communications and sports, going by his special interest in promoting the Nigerian local league to prominence.

LASACO restates commitment to customer satisfaction

ASACO Assurance has reiterated its services for guaranteed customer satisfaction as part of strategic efforts to establish a solid reputation as a customer centric organisation. The Group Managing Director of LASACO Assurance, Mr Olusola Ladipo-Ajayi, said in a statement that the company was ensuring its customers had unfettered access to its numerous product and services. This is one potent reason the company leverages on the ICT platform as a veritable avenue to raise the bar of superior service delivery. Ladipo-Ajayi said that one of the numerous ways to achieve this strategic vision is through seamless service delivery through the company’s ICT platform, adding that the opera-

tions of the organisation had been rejuvenated for customers to have great customer experience with LASACO. He said that LASACO was clearly positioned to deepen customer experience through several platforms to great value and also delight them. This, according to him, has manifested in several innovative product development. LASACO has developed several platforms to reach out to numerous and potential clients by embarking on digital marketing and making its services more prominent through the social media. These services are supported with strong IT channels with web-based solutions with powerful administrative and marketing services. He affirmed that the

Enterprise Resource Planning (ERP) supports the vision of the company to provide quality customer services that aligns with global standards. The company has over

the years re-invented the rules of customer service. It has developed a strategic blueprint to position itself as a one stop shop for excellent customer service. LASACO Assurance has a

mission to sustain the quality of life and it has not reneged on this premix to provide customer centric service while also raising the bar of service delivery

Senate confirms Anohu-Amazu as PenCom DG

igeria’s upper legislative chamber, the Senate, has confirmed Chinelo AnohuAmazu as Director-General of the National Pension Commission (PenCom). Mrs Ahinu-Amazu was recently nominated by President Goodluck Jonathan in a letter to Senate President, David Mark, asking the upper chamber to confirm her appointment. In the letter, President Jonathan had said that the appointment was

in consonance with the provisions of the Pension Reform Act 2004 as amended. Recall that Chinelo Anohu-Amazu, who represents south east in PenCom, had been in acting capacity since December 2012 when the tenure of the former Director-General, Mohammed Ahmad, ended. While congratulating her on her confirmation, Deputy Senate President, Ike Ekweremadu, who presided over the

plenary, charged the new DG to bring transformation to the pension industry to ensure that pensioners are paid their entitlement as at when due. The commission, under her watch in the last two years, initiated some notable measures that have not only sustained the Contributory Pension Scheme, but also ensured that it is running according to the dictates of the law setting up.

Business | Financial Market News

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

FMDQ Daily Quotations List

3-Oct-14

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

Bonds FGN Bonds

Price

Rating/Agency

Issuer

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

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

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

TOTAL OUTSTANDING VALUE

4,591.19

TOTAL MARKET CAPITALISATION

4,572.71

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

0.55 1.87 2.57 2.81 2.91 3.66 4.74 5.06 7.32 9.44 14.15 14.63 15.13 15.80 19.79

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

11.19 12.41 12.43 12.50 12.50 12.53 12.53 12.59 12.58 12.56 12.54 12.54 12.53 12.54 12.43

10.89 12.32 12.36 12.43 12.43 12.43 12.45 12.50 12.52 12.51 12.50 12.49 12.47 12.48 12.39

96.23 101.00 105.70 93.84 92.49 94.71 112.05 79.53 117.83 108.90 116.04 99.65 72.92 82.70 97.90

96.38 101.15 105.85 93.99 92.64 95.01 112.35 79.83 118.13 109.20 116.34 99.95 73.22 83.00 98.20

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 3.30 112.22 116.70 66.49

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

0.08 0.64 1.50 2.18 2.55 2.76

1.00 2.63 2.27 2.00 1.00 1.00

12.04 13.85 14.26 14.49 13.49 13.50

99.09 91.77 103.86 99.95 97.89 95.21

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

1,301.62

TOTAL MARKET CAPITALISATION

1,285.14

Sub-National Bonds A-/GCR

NIGER

14.00 NIGER 15-OCT-2014

15-Oct-09

14.00

6.00

15-Oct-14

0.03

3.29

14.23

99.96

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.91

4.44

15.75

97.31

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.75

3.23

14.48

99.04

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

1.03

4.46

15.84

98.67

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

1.04

3.48

14.87

101.17

10.00

57.00

19-Apr-17

2.54

5.59

18.08

84.07

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.59

1.00

13.08

101.27

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.24

1.79

14.30

99.17

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.42

1.80

14.29

99.46

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

4.00

1.00

13.55

101.35

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.41

1.00

13.49

102.25

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.42

4.78

17.27

93.97

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.80

1.00

13.50

102.26

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

3.05

1.00

13.51

104.69

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.14

1.00

13.59

103.22

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

3.02

2.74

15.24

98.90

14.75

11.40

30-Sep-20

3.55

1.00

13.53

103.26

A/Agusto

*OSUN

14.75 OSUN II 30-SEP-2020

30-Sep-13

Aa-/Agusto; AA-/GCR

LAGOS

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.00

27-Nov-20

6.15

1.00

13.61

99.50

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

6.24

1.94

14.55

101.73

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

3.73

1.44

13.98

101.59

06-Jan-14

15.00

4.79

06-Jan-21

3.76

1.95

14.49

101.55

99.99

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

477.18 471.42

Corporate Bonds A+/Agusto; AA/GCR

LAFARGE WAPCO

11.50 LAFARGE WAPCO 7-OCT 2014

07-Oct-11

11.50

11.80

07-Oct-14

0.01

1.00

11.88

Aa/Agusto

13.50 GUARANTY TRUST 18-DEC-2014

18-Dec-09

13.50

13.17

18-Dec-14

0.21

5.21

16.57

99.25

Nil

GTB µ NGC

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

2.00

31-Dec-14

0.24

8.71

20.16

99.07

Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

3.61

17-Aug-15

0.63

4.88

16.09

96.86

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

13.62

09-Dec-15

0.70

1.00

12.24

100.40 100.76

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.60

06-Jan-16

0.78

2.63

13.89

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.99

1.00

13.48

99.18

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

2.06

1.34

13.83

100.70

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.99

1.00

13.50

98.79

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.73

30-Nov-17

1.81

1.88

14.18

107.23

BBB+/DataPro†; BB+/GCR

*C & I LEASING *DANA#

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

7.20

09-Apr-18

1.77

3.48

15.74

100.47

A-/DataPro†; BB-/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

2.18

5.20

17.69

100.69

AAA/DataPro†; A+/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

2.18

5.06

17.55

101.72

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.97

1.35

13.90

100.29

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.70

18-Oct-18

2.04

2.29

14.78

101.84

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

2.37

6.11

18.60

97.37

BBB/GCR

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

3.24

2.16

14.67

103.29

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

6.12

2.76

15.37

99.48

11-Feb-18

3.36

1.00

13.52

91.24

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

141.62

TOTAL MARKET CAPITALISATION

141.52

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE

12.00 10.95

TOTAL MARKET CAPITALISATION Rating/Agency

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

5.08

4.92

108.92

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

109.78

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.25

4.02

103.01

103.82

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.38

5.26

106.86

107.76

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,593.92

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

7.42

105.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.23

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

6.56

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

8.57

8.13

94.86

96.14

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

5.94

5.64

100.20

101.29

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

8.68

105.75

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.25

100.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

8.91

8.64

99.39

100.39

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.44

103.01

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

7.50

95.75

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

24-Jun-14

9.25

400.00

24-Jun-21

8.70

8.53

103.13

104.00

B-/Fitch; B/S&P

AFREN PLC III

B-/Fitch; B/S&P

ACCESS BANK PLC II

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

7.52

101.63

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.44

8.22

100.68

101.82

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

4,830.34

**Treasury Bills DTM 13 20 27 34 41 48 55 62

Money Market

FIXINGS Maturity 16-Oct-14 23-Oct-14 30-Oct-14 6-Nov-14 13-Nov-14 20-Nov-14 27-Nov-14 4-Dec-14

Bid Discount (%) 10.70 10.70 10.70 10.75 10.70 10.80 10.80 10.60

Offer Discount (%) 10.45 10.45 10.45 10.50 10.45 10.55 10.55 10.35

Bid Yield (%) 10.74 10.76 10.79 10.86 10.83 10.96 10.98 10.79

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.6667 12.4513 13.2925 14.2611

Tenor

Rate (%)

OBB

10.25

O/N Tenor Call 1M

10.50

REPO

Rate (%) 10.25 11.97

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

164.20 164.31 164.57 165.22 166.34 167.50

164.30 164.55 164.88 165.82 167.40 169.11

Sub-National Bonds A-/GCR

NIGER

14.00 NIGER 15-OCT-2014

15-Oct-09

14.00

6.00

15-Oct-14

0.03

3.29

14.23

99.96

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.91

4.44

15.75

97.31

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.75

3.23

14.48

99.04

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

1.03

4.46

15.84

98.67

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

1.04

3.48

14.87

101.17

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.54

5.59

18.08

84.07

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.59

1.00

13.08

101.27

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.24

1.79

14.30

99.17

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.42

1.80

14.29

99.46

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014 A+/Agusto; A+/GCR *DELTA

Business | Financial Market News

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

4.00

1.00

13.55

101.35

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

14.96

09-Dec-18

2.41

1.00

13.49

102.25

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

11.13

12-Dec-18

2.42

4.78

17.27

93.97

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.80

1.00

13.50

102.26

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

16.23

02-Oct-19

3.05

1.00

13.51

104.69

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.14

1.00

13.59

103.22

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

27.51

12-Dec-19

3.02

2.74

15.24

98.90

A/Agusto

*OSUN

Aa-/Agusto; AA-/GCR

LAGOS

A-/Agusto; BBB+/DataPro

KOGI

2.76

15.37

99.48

Process for Direct Market Access unveiled INTEGRATION

A/Agusto *EKITI NSE begins procedure of A-/GCR *NASARAWA amalgamating regional TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION capital markets

Corporate Bonds A+/Agusto; AA/GCR

LAFARGE WAPCO

Aa/Agusto

GTB µ NGC

Stories by Chris Ugwu Nil

Bbb-/Agusto A-/Agusto

*UPDC

he Nigerian Stock *FLOURMILLS BB+/GCR Exchange (NSE) *CHELLARAMS has A+/Agusto; A-/GCR NAHCO established a compreA-/Agusto FSDH hensive internal proA/GCR UBA cess to ensure seamless inteBBB-/GCR *C & I LEASING # gration of the West African BBB+/DataPro†; BB+/GCR *DANA Capital Integration A-/DataPro†;Market BB-/GCR *TOWER# AAA/DataPro†; A+/GCR applications *TOWER# (WACMI)-based A/GCR UBA Access forA/Agusto; the Direct Market Bbb+/Agusto; BBB+/GCR (DMA) programme.*LA CASERA # BBB-/DataPro†; BB+/GCR *CHELLARAMS The NSE’s management in BBB/GCR *DANA A+/Agusto; A-/GCR

14.75 OSUN IIsaid 30-SEP-2020 a statement it will sup13.50 LAGOS IV 27-NOV-2020 port Direct DMA as an interim 15.00 KOGI 31-DEC-2020 step to the implementation of 14.50 EKITI II 31-DEC-2020 Sponsored Access. 15.00 NASARAWA 06-JAN-2021 “In Phase 1, brokers in WACMI member countries will now be able to trade securities and settle in markets 11.50 LAFARGE WAPCO 7-OCT 2014 other13.50 than theirs through loGUARANTY TRUST 18-DEC-2014 cal brokers in those domestic 17.00 NGC 31-DEC-2014 markets. The main objective 10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS of Phase 1 is to9-DEC-2015 enable brokers 14.00 thatCHELLARAMS are not06-JAN-2016 registered 13.00 NAHCO 29-SEP-2016 market operators in Nigeria 14.25 FSDH 25-OCT-2016 to participate in the market by 13.00 UBA 30-SEP-2017 granting them remote access 18.00 C&I LEASING 30-NOV-2017 to theMPR+7.00 NSE’s trading DANA 9-APR-2018 facility through a local MPR+7.00 TOWERDealing 9-SEP-2018 MemMPR+5.25the TOWER 9-SEP-2018 ber Firm,” Exchange said. 14.00 UBA II 22-SEP-2018 The statement noted that 15.75 LA CASERA 18-OCT-2018 with DMA, a Dealing Member MPR+5.00 CHELLARAMS II 17-FEB-2019 Firm16.00 (Sponsoring Member DANA II 1-APR-2019

30-Sep-13 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14

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

15.25 NAHCO II 14-NOV-2020

NAHCO

14.75allow a Sponsored 11.40 SM) can Par-30-Sep-20 13.50 87.00 ticipant (SP) to submit orders27-Nov-20 15.00 5.00 31-Dec-20 to the 14.50 trading system under the31-Dec-20 4.78 member codes06-Jan-21 15.00 firm’s trading 4.79 via the member firm’s 477.18 order management systems 471.42(OMS). “In the next sub-phase, Sponsored Access, unlike 07-Oct-14 DMA,11.50 will allow a11.80 Sponsored18-Dec-14 13.50 13.17 Participant to submit orders31-Dec-14 17.00 2.00 under10.00a Dealing3.61Member17-Aug-15 Firm’s to the09-Dec-15 12.00trading codes 13.62 14.00system without 0.60 trading pass-06-Jan-16 13.00 15.00 ing through a member firm’s29-Sep-16 5.53 order14.25 management systems;25-Oct-16 13.00 20.00 30-Sep-17 instead their orders pass30-Nov-17 18.00 0.73 through a series of valida16.00 7.20 09-Apr-18 tion checks provided by the09-Sep-18 18.00 2.90 16.00 Exchange and the 0.80 orders are09-Sep-18 14.00 35.00 monitored by the member firm22-Sep-18 15.75 2.70 in real-time (i.e. Exchange’s in-18-Oct-18 17.00 0.41 17-Feb-19 frastructure). 16.00 4.50 01-Apr-19

14-Nov-13

15.25

2.05

Unity Bank’s Q3 pre-tax profit grows 90%

8.75 AUG 14, 2021

14-Aug-14

3.76

0.01 0.21 0.24 0.63 0.70 0.78 1.99 2.06 2.99 1.81 1.77 2.18 2.18 3.97 2.04 2.37 3.24 6.12

he Nigerian Stock Ex- Competition. The competition’s 11-Feb-18 has offi3.36 1.00 goal is 13.52 change (NSE) overall to develop91.24 a cul12.00 cially kicked off the 2014 ture of wealth creation amongst 10.95of its Annual National edition our youth – by “Catching Them Essay Competition with the call Young.” Outstanding Value Maturity Date schools Bid Yield (%) Offer (%)noted Bidthat Price the competiOffer Price for entries to secondary HeYield also ($mm) across the country. tion’s key objective is to expose Prices & Yields The topic for this year is the younger generation to the “Understanding the activities operations of the 500.00 28-Jan-21 5.08 4.92 108.92stock market; 109.78 of the Nigerian Capital Market allow them develop a culture of 500.00 4.25 4.02 103.01 103.82 is important for12-Jul-18 today’s youth. medium and long-term investDiscuss” ment5.26 habit; encourage the 500.00 12-Jul-23 5.38 106.86 107.76stuThis year’s edition according dents to consider career choices to a1,500.00 statement from NSE, is only in the securities market and re1,593.92 open to Senior Secondary School lated professions and fill the gaps students. The deadline for the between school curriculum and 2014450.00 edition is the second week practical approach to investing in 01-Feb-16 7.42 7.42 105.00 105.00 in November. the stock market; and to encour500.00 19-May-16 4.23 4.23 105.04 105.04 Head, Corporate Division of age critical thinking amongst stu350.00 25-Jul-17 6.56 6.56 101.72 101.72 the NSE, Mr Bola Adeeko, said: dents to help reinforce financial 300.00 02-May-18 8.57 8.13 94.86 96.14 market “The400.00 Exchange is committed 5.94 to and capital 08-Nov-18 5.64 100.20 concepts. 101.29 supporting efforts aimed at adAdeeko also mentioned that 300.00 08-Apr-19 8.68 8.68 105.75 105.75 dressing literacy and the 2013 was quite historic 500.00 financial 22-Apr-19 6.25 6.25 edition100.00 100.00 empowerment; this commitment as the 200.00 21-May-19 8.91 8.64competition 99.39 was won 100.39 by 300.00 07-Aug-20 7.44 7.44 Mahmud 103.01 Abdullahi, 103.01 a Master is expressed in the various finan360.00 09-Dec-20 7.50 7.50 with physical 95.75 95.75 cial inclusion and literacy initiastudent disability 8.70 103.13 College, 104.00 tives400.00 undertaken24-Jun-21 by the NSE, one from8.53 Government Aza450.00 7.52 7.52 101.63 101.63 re, Bauchi State. of which is the 23-Jul-21 Annual Essay 12.00

8.75

250.00

14-Aug-21

8.44

4,760.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

3.73

Plc has re- years. in this country that is well-lo10.20 IFC 11-FEB-2018 10.20 “Our strategies are strictly cated and11-Feb-13 situated within the corded 89.98 IFC per cent TOTAL OUTSTANDING VALUEprofin three folds. First, the main agrarian belt of the country. increase in pretax TOTAL it for theMARKET third CAPITALISATION quarter ended derivative is leveraging on a “There is a semantic difSeptember 30, 2014. very strong network across the ference between location Description Issuer country. We are looking Date are situated. Coupon (%) you TheRating/Agency bank in a filing with at net- and howIssue the Nigerian Stock Exchange works in excess of 240 branch- You could be located around FGN Eurobonds (NSE) recorded a pretax profit es coming from an amalgama- a place, but when you are 6.75 JAN 28, 2021 of BB-/Fitch; N12.018 billion during Q3 tion of nine institutions that situated, it means you are B+/S&P 07-Oct-11 6.75really into where the business from N1.204 billion in the are pretty very active in their BB-/Fitch; FGN JUL 12, 2018 12-Jul-13 5.13 BB-/S&P own right and in 5.13 their chosen is. We are same period of 2013. not just located BB-/Fitch; Similarly, post tax profit business of strategy spread around the agrarian belt, 6.38 JUL 12, 2023 12-Jul-13 6.38we BB-/S&P are also situated,” he said. climbed 89.5 per cent to N11.057 across Nigeria. TOTAL OUTSTANDING VALUE billion in the Q3 of 2014 from “And also leveraging on “Three is rural economy. TOTALbillion MARKETreported CAPITALISATION N1.153 in the the strong personalities that By rural economy, we mean same period of 2013. make up the board of direc- leveraging our presence hisCorporate Eurobonds Gross earnings rose to tors as well as the quality of torically 01-Feb-11 that was modelled 11.50 FEB 01, 2016 B/Fitch; B-/S&P AFREN PLC I 11.50 N48.140 billion during the manpower that exists, they are around urban-rural drift. 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 7.50 nine-month period, against The essence of taking the what drives our proposition of 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC 25-Jul-12 7.25 N45.395 billion a year ago, acaspiring to be the retail bank economy to the last tiers of 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC 09-May-13 6.88 counting for 5.7 per cent. of choice in five years. We are governance is to bridge6.00the 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 Managing Director and targeting small and mediumurban-rural economy. 10.25 Post 10.25 APR 08, 2019 B/Fitch AFREN PLC II 08-Apr-12 Chief Officer ofPLC sized business (SMEs); that Bank in South 6.25 APR 22, 2019 B+/Fitch;Executive BB-/S&P ZENITH BANK 22-Apr-14 Africa is 6.25the 8.75 May 21, 2019 Unity Mr. Henry Se- PLCtakes you to local content, bank with the highest 8.75 local B/Fitch; Bank, B/S&P DIAMOND BANK 21-May-14 AUG 07, 2020 B-/Fitch; B/S&Psaid strategically FIRST BANK PLC menitari, , emerging middle8.25 market busi- dwelling 07-Aug-13 settlements in8.25the B-/Fitch; B/S&P AFRENas PLC an III 09-Dec-13 6.63 70 the company’s vision nesses,” he said. 6.63 DEC 09, 2020 African continent. About 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&Pwas to beACCESS BANK PLC II 9.25 institution the retail Secondly , Semenitari said percent of24-Jun-14 its revenues come 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P BANK LTD 23-Jul-14 8.00 bank of choice in theFIRST next five the bank was economy. the only bank from rural Supranational Bond nity Bank

AAA/S&P

ECOBANK NIG. LTD

6.24

141.62

TOTAL MARKET CAPITALISATION

TOTAL OUTSTANDING VALUE

6.15

1.00part of the 13.53 process, 103.26 As Deal13.61 ing 1.00 Member Firms who99.50 wish 1.94 14.55 101.73 to provide DMA services to 1.44 13.98 101.59 Sponsored Participants 1.95 14.49 101.55are required to inform the Exchange by submitting a DMA Notification, along with other required information and seek 11.88 99.99 the 1.00 NSE’s “No Objection” to 5.21 16.57 99.25 the 8.71 DMA arrangement. 20.16 99.07 Any Dealing Member 4.88 active 16.09 96.86 firm regis1.00in Nigeria 12.24 that is100.40 2.63 with the 13.89 100.76 tered Securities and 1.00 13.48 99.18 Exchange Commission (SEC) 100.70 and1.34 licensed 13.83 by the Nigerian 1.00 13.50 98.79 Stock Exchange can apply for 1.88 14.18 107.23 Phase 1 under the WACMI pro3.48 15.74 100.47 gramme. The 17.69 Dealing Member 5.20 100.69 5.06 must have 17.55 an OMS 101.72 firms ven13.90 100.29Exdor1.35 that is certified by the 2.29 14.78 101.84 change for sub-phase 1, DMA,” 6.11 18.60 97.37 the 2.16 Exchange14.67 noted. 103.29

NSE begins 2014 students’ essay competition 141.52

TOTAL OUTSTANDING VALUE

B-/S&P

14-Nov-20

3.55

8.22

100.68

101.82

3-Oct-14 CEO, ETI, Thierry Tanoh

4,830.34

The FMDQ Bills 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 MoneyinMarket **Treasury Foreign Exchange (Spot & Forwards) the FMDQDTM OTC PLC Terms of Use and Disclaimer Statement Maturity Bid Discounton (%)www.fmdqotc.com. Offer Discount (%) Bid Yield (%) Tenor Rate (%)

13 16-Oct-14 10.70 20 23-Oct-14 10.70 30-Oct-14 10.70 FGN Bonds27 34 6-Nov-14 10.75 41 13-Nov-14 10.70 Rating/Agency Issuer Description 48 20-Nov-14 10.80 55 27-Nov-14 10.80 62 4-Dec-14 10.60 4.00 23-APR-2015 69 11-Dec-14 10.95 13.05 16-AUG-2016 83 25-Dec-14 10.80 15.10 27-APR-2017 90 1-Jan-15 11.00 9.85 27-JUL-2017 97 8-Jan-15 10.85 9.35 31-AUG-2017 104 15-Jan-15 11.00 10.70 30-MAY-2018 111 22-Jan-15 10.75 16.00 29-JUN-2019 118 29-Jan-15 11.00 NA NA 7.00 23-OCT-2019 125 5-Feb-15 10.70 16.39 27-JAN-2022 132 12-Feb-15 11.00 14.20 14-MAR-2024 139 19-Feb-15 10.70 15.00 28-NOV-2028 146 26-Feb-15 11.00 12.49 22-MAY-2029 153 5-Mar-15 10.75 8.50 20-NOV-2029 188 9-Apr-15 10.55 202 23-Apr-15 10.70 10.00 23-JUL-2030 216 7-May-15 10.40 12.1493 18-JUL-2034 307 6-Aug-15 10.50 TOTAL OUTSTANDING VALUE 3-Sep-15 335 10.40 *from the Amortising bonds, the average life is calculated and not the duration

10.45 10.45 10.45 10.50 10.45 Issue Date 10.55 10.55 10.35 23-Apr-10 10.70 16-Aug-13 10.55 27-Apr-12 10.75 27-Jul-07 10.60 31-Aug-07 10.75 30-May-08 10.50 29-Jun-12 10.75 23-Oct-09 10.45 27-Jan-12 10.75 14-Mar-14 10.45 28-Nov-08 10.75 22-May-09 10.50 20-Nov-09 10.30 10.45 23-Jul-10 10.15 18-Jul-14 10.25 10.15

10.74 10.76 10.79 10.86 10.83 Coupon 10.96(%) 10.98 10.79 4.00 11.18 13.05 11.07 15.10 11.31 9.85 11.17 9.35 11.36 10.70 11.11 16.00 11.41 7.00 11.11 16.39 11.46 14.20 11.15 15.00 11.51 12.49 11.26 8.50 11.16 11.37 10.00 11.08 12.1493 11.52 11.50

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 LCRM1,029.33 III 06-JUL-2017 998.07

Issue Date

Agency Bonds

FMBN Modified Duration Buckets

***LCRM

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

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

(N'bn)

535.00 23-Apr-15 545.27 16-Aug-16 NITTY 452.80 27-Apr-17 Tenor Rate (%) 20.00 27-Jul-17 1M 10.8604 100.00 31-Aug-17 2M 11.0577 300.00 30-May-18 3M 11.1660 351.30 29-Jun-19 6M 11.1729 233.90 23-Oct-19 9M 11.3451 600.00 27-Jan-22 12M 11.5704 331.35 14-Mar-24 75.00 28-Nov-28 150.00 22-May-29 NIFEX 200.00 20-Nov-29 Current Price ($/N) 591.57 23-Jul-30 BID($/N)105.00 164.4675 18-Jul-34

OFFER ($/N)

4,591.19

Coupon (%)

28-Dec-11 FMDQ FGN 0.00BOND 24-May-10 0.00 03-Apr-12by 17.25by Mkt Weighting Weighting 09-Dec-11 Vol 0.00/16.00 Outstanding Value 20-Apr-12 0.00/16.50 06-Jul-12 33.52 0.00/16.5033.39

3<5

1,100.61

951.30

31.95

35.70

952.86

1,027.92

34.53

30.91

3,082.81

2,977.29

100.00

Market

Rate (%) 10.6667 12.4513 13.2925 Maturity Date 14.2611

OBB

10.25

O/N

10.50

REPO

TTM (Yrs) Tenor Call 1M 0.55 3M 1.87 6M 2.57

BidRate Yield (%)(%) 10.25

Tenor Spot 7D 14D Offer Yield 1M (%) 2M 3M 10.89 6M 12.32 1Y 12.36

11.97 11.19 12.72 12.41 13.57 12.43 2.81 12.50 12.43 12.50 12.43 NOTE: 2.91 3.66 12.53 12.43 :Benchmarks 4.74 12.53 12.45 * :Amortising Bond 5.06 12.59 12.50 µ :Convertible Bond 12.52 AMCON: 7.32 Asset Management12.58 Corporation of Nigeria 9.44 Government of12.56 12.51 FGN: Federal Nigeria 14.15 Mortgage Bank 12.54 12.50 FMBN: Federal of Nigeria 14.63 12.54 12.49 IFC: International Finance Corporation 15.13Contractors Receivables 12.53 12.47 LCRM: Local Management NAHCO:15.80 Nigerian Aviation Handling 12.54 Company12.48 O/N: Overnight 19.79 12.43 12.39

164.5675

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

Bid ($/N)

Offer ($/N)

164.20 Price 164.30 164.31 164.55 164.57 164.88 Bid Price Offer Price 165.22 165.82 166.34 167.40 167.50 169.11 96.23 96.38 171.20 174.60 101.00 101.15 178.63 186.57 105.70 105.85

93.84 93.99 92.49 92.64 94.71 95.01 NA :Not Applicable 112.05 112.35 # :Floating Rate Bond 79.53 79.83 ***: Deferred coupon bonds 117.83 118.13 108.90 †: Bond rating expired 109.20 116.04 116.34 99.65 99.95 72.92 73.22 NGC: Nigeria-German Company 82.70 83.00 UBA: United 97.90 Bank for Africa 98.20

4,572.71

Rating/Agency

NIBOR

Bonds

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

24.56 3.30 Bucket Weighting 112.22 116.70 66.49 0.34

31-Oct-14 24-May-15 %03-Apr-17 Exposure_ 09-Dec-16 Mod_Duration 20-Apr-17 06-Jul-1714.70

0.08 0.64 1.50 Implied Yield 2.18 2.55 2.7612.42

1.00 2.63 2.27 Implied 2.00Price Portfolio 1.00 117.9271 1.00

1,301.62 0.32

Outstanding Value (N'bn)

INDEX 978.35

1,285.14

Valuation Yield (%)

Indicative Price

12.04 13.85 14.26 INDEX 14.49 13.49 1,120.07 13.50

99.09 91.77 103.86 YTD Return 99.95 (%) 97.89 12.0067 95.21

12.5096

31.26

12.57

132.8704

1,125.10

0.35

54.04

12.53

102.5831

1,199.38

19.9377

1.00

100.00

12.52

117.4042

1,121.11

12.1107

Sub-National Bonds A-/GCR

NIGER

14.00 NIGER 15-OCT-2014

15-Oct-09

14.00

6.00

15-Oct-14

0.03

3.29

14.23

99.96

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.91

4.44

15.75

97.31

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.75

3.23

14.48

99.04

A-/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

6.27

30-Jun-16

1.03

4.46

15.84

98.67

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

7.37

30-Jun-16

1.04

3.48

14.87

101.17

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.54

5.59

18.08

84.07

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

29.92

30-Jun-17

1.59

1.00

13.08

101.27

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.24

1.79

14.30

99.17

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.42

1.80

14.29

99.46

Daily Summary as of 03/10/2014 Printed 03/10/2014 14:45:17.017

Daily Summary (Equities) Activity Summary on Board EQTY FINANCIAL SERVICES Micro-Finance Banks Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services RESORT SAVINGS & LOANS PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals

Business | Capital Market

Daily Summary as of 03/10/2014

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA PLC Daily Summary asCAPITAL of 03/10/2014 Other Financial Institutions Totals Printed 03/10/2014 14:45:17.017

Printed 03/10/2014 14:45:17.017

Symbol Symbol RESORTSAL UNHOMES Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 13

Current Price

Quantity Traded 2,128,000

Value Traded 2,098,250.00

No. of Deals

Current Price

Quantity Traded

Value Traded

1 2

0.50

1,000 301,000

500.00 150,500.00

No. of Deals 65 46 394 79 5 33 87 709

Current Price 3.30 4.09 13.48 4.51 0.59 35.00 2.18

Quantity Traded 8,694,328 1,766,917 11,251,614 7,371,169 10,100 123,030 6,289,604 35,506,762

Value Traded 28,657,594.58 7,068,212.26 151,618,509.42 31,819,285.82 5,794.84 4,151,587.08 13,764,547.04 237,085,531.04

468,808,517

2,443,949,203.51

Quantity Traded 92 92

Value Traded 159.16 159.16

1 0.506, 2014 300,000 150,000.00 MONDAY, OCTOBER NEW TELEGRAPH

The Nigerian Stock Market Exchange as at October 3, 2014 Daily Summary (Bonds)

Activity Summary on Board DEBT Federal

Bond Name 16.00% FGN JUN 2019 Federal Totals

Symbol FG9B2019S3

DEBT Board Totals

No. of Deals 1 1

Current Price 111.85

Bond Activity Totals

Quantity Traded 10 10

Value Traded 11,630.89 11,630.89

11,630.89

FINANCIAL SERVICES Totals HEALTHCARE Medical Supplies MORISON INDUSTRIES PLC. Medical Supplies Activity Summary onTotals Board EQTY

11,630.89

Daily Summary (Equities)

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. Published by The Nigerian Stock Exchange © FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. Daily Summary as of 03/10/2014 PRESCO PLC Printed 03/10/2014 14:45:17.017 Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 19 26 4 49

Current Price 0.50 34.00 37.50

Quantity Traded 1,109,654 225,175 7,536 1,342,365

Value Traded 554,827.00 7,529,686.47 281,236.00 8,365,749.47

Symbol

No. of Deals 19 19

Current Price 2.99

Quantity Traded 505,970 505,970

Value Traded 1,495,557.26 1,495,557.26

1,848,335

9,861,306.73

LIVESTOCK Daily Summary (Equities)

Activity Summary on Board EQTY AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. Published by The Nigerian Stock Exchange © S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

Symbol AGLEVENT JOHNHOLT SCOA TRANSCORP UACN

CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Daily Summary as of 03/10/2014

Printed 03/10/2014 14:45:17.017 Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC

Activity Summary on Board EQTY Real Estate Investment Trusts (REITs) Totals

Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Daily Summary as of 03/10/2014

Printed 03/10/2014 14:45:17.017 Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC Activity Summary on Board EQTY N NIG. FLOUR MILLS PLC. CONSUMER GOODS Published by Food The Nigerian Stock Exchange © Products Food Products Totals

Current Price 1.54 1.08 4.67 5.79 58.00

Quantity Traded 38,000 1,000 Page 3,600 10,319,496 980,299 11,342,395

236

11,342,395

116,137,603.18

No. of Deals 18 18

Current Price 0.90

Quantity Traded 652,495 652,495

Value Traded 587,355.50 587,355.50

Symbol JBERGER

No. of Deals 4 4

Current Price 67.20

Quantity Traded 9,301 9,301

Value Traded 593,775.84 593,775.84

Symbol UAC-PROP

No. of Deals 12 12

Current Price 15.85

Quantity Traded 22,116 22,116

Value Traded 349,743.36 349,743.36

Quantity Traded 5,000 5,000

Value Traded 500,000.00 500,000.00

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

1 1

100.00

Page 688,912

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

No. of Deals 1 1

Current Price 0.50

Quantity Traded 6,125 6,125

Value Traded 3,062.50 3,062.50

Symbol CHAMPION GUINNESS INTBREW NB PREMBREW

No. of Deals 5 51 18 104 3 181

Current Price 12.35 195.70 30.90 176.66 4.40

Quantity Traded 200,390 87,664 205,839 815,195 21,000 1,330,088

Value Traded 2,474,590.30 16,821,371.42 6,298,596.45 144,367,349.84 87,780.00 170,049,688.01

Symbol 7UP

No. of Deals 13 13

Current Price 147.73

Quantity Traded 16,736 16,736

Value Traded 2,721,749.96 2,721,749.96

Symbol No. of Deals DANGFLOUR 55 DANGSUGAR 83 FLOURMILL 33 Daily Summary (Equities) HONYFLOUR 22 NASCON 43 NNFM 1

Current Price 6.55 8.17 62.00 4.00 9.37 21.99

Quantity Traded 152,820 2,680,729 50,464 916,159 655,499 217

Value Traded 963,302.50 21,932,258.09 3,120,524.57 3,674,008.20 6,092,936.25 4,969.30

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC

INDUSTRIAL GOODS Building Materials CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC IPWA PLC PAINTS AND COATINGS MANUFACTURES PLC LAFARGE AFRICA PLC. Building Materials Totals

No. of Deals 36 50 86

Current Price 53.69 1,050.00

Quantity Traded 139,090 57,241 196,331

Value Traded 7,477,161.32 60,144,354.49 67,621,515.81

Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals

Symbol VITAFOAM VONO

No. of Deals 11 3 14

Current Price 4.27 1.42

Quantity Traded 125,025 14,900 139,925

Value Traded 513,436.25 19,371.00 532,807.25

Symbol PZ UNILEVER

No. of Deals 72 39 111

Current Price 32.15 47.99

Quantity Traded 762,669 238,795 1,001,464

Value Traded 24,696,175.04 11,387,019.64 36,083,194.68

7,146,557

312,800,017.12

Current Price 9.02 6.25 18.70 2.05

Quantity Traded 11,885,323 7,349,729 6,792,518 24,205,413

Value Traded 107,038,202.45 45,937,638.85 127,024,063.51 49,594,343.77

Current Price 30.01 2.87 2.30 6.65

Page Quantity Traded 12,250,439 303,035,428 9,570,001 15,227,141

4Value Traded of 13 367,586,736.26 732,441,110.75 21,827,727.94 101,604,912.67

Value Traded 6,689,742.85 559,265.00 1,333,312.80 636,097,820.62 2,197,734,877.47

FINANCIAL SERVICES Banking UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

Symbol GUARANTY

No. of Deals 286

STERLNBANK UBA

Quantity Traded 1,812,391 97,100 456,127 1,000 2,000 1,192,154 12,000 4,771,900 77,230 645,838 1,024,158 1,400 Page 80,000 823,769 10,997,067

Current Price 1.00

Quantity Traded 2,128,000

Value Traded 2,098,250.00

No. of Deals 13

Current Price

Page Quantity Traded 2,128,000

6 of 13 Value Traded 2,098,250.00

Symbol Symbol RESORTSAL UNHOMES

No. of Deals 1 1 2

Current Price 0.50 0.50

Quantity Traded 300,000 1,000 301,000

Value Traded 150,000.00 500.00 150,500.00

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 65 46 394 79 5 33 87 709

Current Price 3.30 4.09 13.48 4.51 0.59 35.00 2.18

Quantity Traded 8,694,328 1,766,917 11,251,614 7,371,169 10,100 123,030 6,289,604 35,506,762

Value Traded 28,657,594.58 7,068,212.26 151,618,509.42 31,819,285.82 5,794.84 4,151,587.08 13,764,547.04 237,085,531.04

468,808,517

2,443,949,203.51

Quantity Traded 92 92

Value Traded 159.16 159.16

FINANCIAL SERVICES Totals HEALTHCARE Medical Supplies MORISON INDUSTRIES PLC. Medical Supplies Totals

2,214 Symbol MORISON

No. of Deals 1 1

Current Price 1.82

Page

Value Traded 108.00 108.00

Symbol CHAMS

No. of Deals 1 1

Current Price 0.50

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

Value Traded 500,000.00 500,000.00

1,000,200

500,108.00

Quantity Traded 2,643,413 33,337 147,362

Value Traded 84,569,986.83 299,187.04 5,643,811.99

2 Symbol ASHAKACEM

No. of Deals 44 5 16

Current Price 32.00 8.60 39.00

DailyBERGER Summary (Equities) CAP

Page

Current Price 1.80

Quantity Traded 318,691 318,691

Value Traded 578,705.80 578,705.80

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

Symbol AVONCROWN BETAGLAS

No. of Deals 1 3 4

Current Price 1.59 20.00

Quantity Traded 335 15,029 15,364

Value Traded 532.65 300,565.50 301,098.15

15,768,500

2,496,949,446.64

Quantity Traded 2,156,788 2,156,788

Value Traded 1,078,394.00 1,078,394.00

2,156,788

1,078,394.00

249 Symbol MULTIVERSE

No. of Deals 1 1 Daily Summary (Equities)

Current Price 0.50

Symbol JAPAULOIL

No. of Deals 50 50

Current Price 0.50

Quantity Traded Page 8,966,697 8,966,697

Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

Symbol OANDO

No. of Deals 306 306

Current Price 26.37

Quantity Traded 7,522,790 7,522,790

Value Traded 196,897,347.21 196,897,347.21

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 30 26 63 25 1 17 162

Current Price 47.01 3.74 225.00 173.08 56.00 180.00

Quantity Traded 112,160 620,191 119,851 56,074 350 11,937 920,563

Value Traded 5,484,457.67 2,344,445.38 26,801,796.86 9,718,298.69 18,620.00 2,172,331.94 46,539,950.54

Symbol SEPLAT

No. of Deals 25 25

Current Price 640.00

Quantity Traded 44,688 44,688

Value Traded 28,600,800.33 28,600,800.33

17,454,738

276,521,446.58 Value Traded 134,356.36

543

Daily Summary (Equities)

4,483,348.50 4,483,348.50

No. of Deals 13

Current Price 0.85

Quantity Traded 157,402

Symbol

No. of Deals 13

Current Price

Page Quantity Traded 157,402

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Symbol REDSTAREX TRANSEXPR

No. of Deals 4 3 7

Current Price 4.40 1.35

Quantity Traded 12,579 14,654 27,233

Value Traded 55,797.60 20,103.66 75,901.26

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 2 2

Current Price 0.50

Quantity Traded 10,515 10,515

Value Traded 5,257.50 5,257.50

Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL

No. of Deals 93 93

Current Price 2.00

Quantity Traded 23,539,246 23,539,246

Value Traded 46,695,672.00 46,695,672.00

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 1 5 24 30

Current Price 1.32 1.32 4.10

Quantity Traded 1 27,522 724,000 751,523

Value Traded 1.38 38,737.67 2,804,438.30 2,843,177.35

Symbol ABCTRANS

No. of Deals 9 9

Current Price 0.68

Quantity Traded 157,150 157,150

Value Traded 105,612.00 105,612.00

Symbol INTERLINK NSLTECH

No. of Deals 1 1 2

Current Price 4.66 0.50

Quantity Traded Page 54,281

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

Symbol AIRSERVICE NAHCO

No. of Deals 2 52 54

Current Price 2.01 4.98

Quantity Traded 50,000 3,650,263 3,700,263

Value Traded 105,500.00 18,643,451.59 18,748,951.59

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

Symbol CAVERTON

No. of Deals 47 47

Current Price 5.00

Quantity Traded 4,648,110 4,648,110

Value Traded 22,124,322.50 22,124,322.50

257

33,046,723

90,986,700.02

EQTY Board Totals

4,322

560,322,603

5,758,044,369.95

Equity Activity Totals

4,322

560,322,603

5,758,044,369.95

Printing/Publishing Daily Summary as of 03/10/2014 ACADEMY PRESS PLC. Printed 03/10/2014 14:45:17.017 LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

Daily Summary (Equities)

SERVICES Totals

Daily Summary as of 03/10/2014 Printed 03/10/2014 14:45:17.017

Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF)

Exchange Traded Fund

1,000 55,281

9Value Traded of 13

Symbol RTBRISCOE

Road Transportation ASSOCIATED BUS COMPANY PLC

No. of Deals 11 11

Activity on Board RoadSummary Transportation TotalsEQTY

Value Traded 1,453,373.39 95,500.00 228,064.50 500.00 1,000.00 676,214.89 6,000.00 2,385,953.00 229,111.00 348,752.52 805,069.68 700.00 5 of 13 40,000.00 609,806.02 6,880,045.00

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

Quantity Traded 200 200

Symbol CUTIX

Current Price 0.80 1.00 0.50 0.50 0.50 0.59 0.50 0.50 2.90 0.54 0.79 0.50 0.50 0.74

No. of Deals 13

Current Price 0.52

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

Activity Summary on Board EQTY

Insurance Carriers, Brokers and Services Symbol No. of Deals AIICO INSURANCE PLC. AIICO 24 CONTINENTAL REINSURANCE PLC CONTINSURE 5 CORNERSTONE INSURANCE COMPANY PLC. CORNERST 8 GREAT NIGERIAN INSURANCE PLC GNI 1 GUINEA INSURANCE PLC. GUINEAINS 1 INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS 16 LASACO ASSURANCE PLC. LASACO 3 LAW UNION AND ROCK INS. PLC. LAWUNION 10 MANSARD INSURANCE PLC MANSARD 8 MUTUAL BENEFITS ASSURANCE PLC. MBENEFIT 4 Daily Summary as of 03/10/2014 N.E.M INSURANCE CO (NIG) PLC. NEM 14 Printed 03/10/2014 14:45:17.017 PRESTIGE ASSURANCE CO. PLC. PRESTIGE 1 Published by The Nigerian Stock ExchangeINSURANCE © STANDARD ALLIANCE PLC. STDINSURE 1 WAPIC INSURANCE PLC WAPIC 40 Insurance Carriers, Brokers and Services Totals 136 Daily Summary (Equities) Symbol NPFMCRFBK

No. of Deals 1 1

Value Traded 16,844,549.41 2,266,230,282.32 5,500.00 1,092.00 122,475,233.10 2,496,069,642.69

SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC.

Quantity Traded 714,535 1,118,530 1,408,878 26,317,753 419,875,688

Micro-Finance Banks

Symbol COURTVILLE

OIL AND GAS Totals

Current Price 9.39 0.50 0.95 24.30

7,229,269.47

Quantity Traded 1,094,572 10,538,928 11,000 650 965,183 15,434,445

Exploration and Production Daily Summary as of 03/10/2014 SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Printed 03/10/2014 14:45:17.017 Exploration and Production Totals

No. of Deals 58 5 28 201 1,354

Activity Summary on Board EQTY NPF MICROFINANCE BANK PLC

Symbol UBN UNITYBNK WEMABANK ZENITHBANK

47 201

1,060,938

Current Price 15.75 220.80 0.50 1.60 127.00

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

Symbol CADBURY NESTLE

Value Traded 346,801.55 of 13 1,182,229.27 4,934,384.34 748,815.10 14,510.05 2,370.00 7,229,110.31

No. of Deals 36 71 1 1 60 234

Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals

Daily Summary (Equities) 151 SKYEBANK

Quantity Traded 172,030 Page 354,919 80,420 439,029 13,448 1,000 1,060,846

NATURAL RESOURCES Totals Activity Summary on Board EQTY

3Value Traded of 13 35,787,998.91

GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR Activity Summary onAFRICA Board PLC EQTY

Current Price 2.05 3.33 62.61 1.72 1.06 2.49

Symbol CCNN DANGCEM IPWA PAINTCOM WAPCO

NATURAL RESOURCES Mining Services MULTIVERSE PLC Mining Services Totals

Page Quantity Traded 4,455,888

Symbol No. of Deals ACCESS 118 Daily Summary (Equities) DIAMONDBNK 49 ETI 82 FIDELITYBK 128

No. of Deals 9 5 24 27 7 1 73

INDUSTRIAL GOODS Totals

Current Price

643

1.82

Daily Summary as of 03/10/2014 Printed 03/10/2014 14:45:17.017

No. of Deals 237

FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED Daily Summary as ofBANK 03/10/2014 Activity Summary on Board FIDELITY PLC EQTY Printed 03/10/2014 14:45:17.017 FINANCIAL SERVICES PublishedBanking by The Nigerian Stock Exchange ©

1 1

Symbol

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals Daily Summary as of 03/10/2014 CONSUMER GOODS Totals Printed 03/10/2014 14:45:17.017

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

Daily Summary as of 03/10/2014 ICT Totals Printed 03/10/2014 14:45:17.017

of 13 2,030,874.70

Symbol DUNLOP

MORISON

HEALTHCARE Totals

Value Traded 53,270.00 1,030.00 1 of 13 15,984.00 59,232,604.83 56,834,714.35 116,137,603.18

Symbol COSTAIN

CONSTRUCTION/REAL ESTATE PublishedCONSTRUCTION/REAL by The Nigerian Stock Exchange ESTATE © Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals

No. of Deals 5 1 2 181 47 236

2,214

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

10 of 13 Value Traded 134,356.36

Value Traded 11 252,949.46 of 13 500.00 253,449.46

Daily Summary (ETP) Symbol

No. of Deals 1

Current Price 1,908.00

Quantity Traded 12

Symbol VETGRIF30

No. of Deals 2 3

Current Price 18.73

Page Quantity Traded 110 122

NEWGOLD Daily Summary (ETP)

Value Traded 22,896.00 12 of 13 Value Traded 2,076.30 24,972.30

ETF Board Totals

122

24,972.30

ETP Activity Totals

122

24,972.30

Business | Global News

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

JPMorgan hack exposed data of 83m entities

ames, addresses, phone numbers and email addresses of the holders of some 83 million households and small business accounts were exposed when computer systems at JPMorgan Chase & Co (JPM.N) were recently compromised by hackers, making it one of the biggest data breaches in history. The bank revealed the scope of the previously disclosed breach on Thursday, saying that there was no evidence that account numbers, passwords, user IDs, birth dates or Social Security numbers had been stolen. It added that it has not seen “unusual customer

fraud” related to the attack which exposed contact information for 76 million households and seven million small businesses. The people affected are mostly account holders, but may also include former account holders and others who entered their contact information at the bank’s online and mobile sites, according to a bank spokeswoman. Security experts outside of the bank warned that the breach could result in an increase in crime as scammers will likely attempt to use the stolen information to engage in various types of fraud. The bank’s customers

should be on heightened alert for fraud, said Mark Rasch, a former federal cybercrimes prosecutor. “All of this data is useful to hackers and identity thieves,” he said. “The kind of information that was stolen is not sensitive itself, but is frequently used to validate people’s identities.” Tal Klein, vice president with the cybersecurity firm Adallom, said that the breach could undermine confidence in the security of banks and other companies that people assume are well protected from hackers. “Criminals could literally take on the identities of these 83 million businesses and people.

US employers ramped up hiring in September and the jobless rate fell to a six-year low, bolstering bets the Federal Reserve will hike interest rates in mid-2015.

China services growth dips to eight-month low C hina’s services sector grew at its slowest pace in eight months in September after new orders shrank for the first time since the 2008 global financial crisis, a survey showed on Friday, exposing more weakness in the world’s second-largest economy. The official non-manufacturing Purchasing Managers’ Index (PMI) edged down to 54.0 in September from 54.4 in August, the National Bureau of Statistics said, but still well above the 50-point mark demarcating growth on the month from a contraction. In a sign that China’s cooling property market remained a key drag on the economy, the PMI showed the real estate sector shrank in Sep-

tember, alongside other industries such as logistics and aviation. Lackluster activity in the housing sector weighed on overall new orders, which fell to 49.5, a level not seen since December 2008 and down from 50 in August. “The ‘Golden September’ peak season in the property sector did not materialise. The market tracked a weak trend and activity was on the subdued side,” said Wu Wei, an official at the China Federation of Logistics and Purchasing, which helps to publish the PMI. Friday’s data raised questions about whether China’s move this week to cut mortgage rates and down payment levels for some home buyers would be

enough to revive its sagging housing market and rejuvenate its sputtering economic momentum. Indeed, the PMI showed the property, aviation, catering and environmental protection industries all took in fewer orders last month.

That’s the biggest concern,” he said. “Until now the assumption has been that the companies that get breached are the ones that have poor security practices, but we know that JPMorgan had a good security program and that they invest heavily in this area,” he said. “So what we are waking up to is that the fundamental nature of security is broken.” Still, JPMorgan advised customers on its website that it does not believe they need to change their passwords

or account information. Company spokeswoman Patricia Wexler said that the bank is not offering credit monitoring to its customers because no financial information, account data or personally identifiable information was compromised. At the end of August, JPMorgan said it was working with U.S. law enforcement authorities to investigate a possible cyberattack. As with home break-ins, it can take victims of data attacks months to discover what, if anything, is missing.

GM recalls 500,000 cars, SUVs

eneral Motors Co said on Friday that it was recalling 524,384 cars and sport utility vehicles globally in two actions dealing with potential latch problems and loose parts and would stop sales of two new truck models with potential air bag defects. The latest recalls, which involve Cadillac and Saab SUVs and Chevrolet Spark small cars, bring the number by the No. 1 US automaker to 71 this year, affecting almost 30 million vehicles. The highest profile is the recall of 2.6 million cars with defective ignition switches linked to at least 23 deaths. GM also said it had told US dealers on Thursday to stop selling the newly introduced 2015 Chevy Colorado and GMC Canyon mid-sized pickup trucks in advance of a recall to fix a potential air bag defect. The company said it was recalling 430,550 Cadillac SRX and Saab 9-4X SUVs for possible loose joint and worn threads in the rear toe link assembly that could cause the vehicle to wander at highway speed and if it separates, increasing the risk of a crash. GM said it was aware of three crashes and two injuries resulting from the problem. Dealers will replace the SUVs’ rear toe link

assembly as needed. The recall affects SRX SUVs from model years 2010 through 2015 and 9-4X SUVs from 2011 and 2012 model years. Of the recalled SUVs, 290,107 are in the United States and the rest are vehicles exported to Canada, Mexico and other markets. The Detroit company also recalled 93,834 newer South Korea-built Chevrolet Spark cars because of a risk of the hood opening unexpectedly during driving, increasing the likelihood of a crash. GM said it was not aware of any crashes, injuries or deaths from this problem, but in documents filed with the US National Highway Traffic Safety Administration it cited two cases in the United Kingdom and one in Denmark where the vehicle hood opened while the customer was driving. During its investigation, GM said it had discovered the suspect secondary hood latch failed a 10-year component level corrosion test in November, the documents said. By February, GM determined that the anticorrosion coating was deficient, and it began applying a different coating in late July.

Facebook wins EU approval for $19bn WhatsApp bid

acebook (FB.O), the world’s most popular social network, gained European Union clearance on Friday for its proposed $19 billion takeover of mobile messaging start-up WhatsApp in a deal setting it against the telecoms industry. The landmark deal is the largest in Facebook’s 10-year history and will give it a strong foothold

in the fast-growing mobile messaging market. WhatsApp is poised to become a potentially powerful rival to companies such as Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA) and Telecom Italia (TLIT.MI) with its plan to add free voice-call services for its 450 million customers later this year. The European Commission said the Facebook-WhatsApp deal would not hurt competition.

“We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market. Consumers will continue to have a wide choice of consumer communications apps,” European Competition Commissioner Joaquin Almunia said. Reuters was the first to report on September 25 that the deal would be cleared unconditionally. US regulators nodded through the deal in April.

Business | Interview

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Nigeria’s economic growth should Derek Omoleh is the Director-General, Special Intervention Office in Nigeria, a business management outfit with interest in the promotion of Small and Medium Enterprises and strategic economic management. In this interview with Sunday Ojeme, he bares his mind on factors limiting the growth of SMEs, the failure of government to improve human lives and sundry issues Your organisation is particularly bent on compelling government to free more funds for the economy, especially the Small and Medium Enterprises. What really are the fundamental economic issues that need to be addressed? Given the impact of the evolution of the World Bank and the International Monetary Fund (IMF) in the 1940s, the global economy has never been the same. Some of the goals of Bretton Woods Institutions (BWI) include economic unification, trade liberalisation and currency stabilisation in an esoteric manner. There has been a lot of attacks on BWI to be operating in a form of neocolonialism mashed under the pretext of economic support; from Structural Adjustment Programme (SAP), the Highly Indebted Poor Countries (HIPCs) initiatives, to the current Poverty Reduction Papers (PRSPs); it is the same paradigm. A survey conducted across economists and concerned Nigerians reveals that the several economic prescriptions from the BWIs and their harsh conditionalties made Africa the guinea pig of the global north. It has also been noted that over the years, underdevelopment in Nigeria is traceable to the deliberate orchestration of economic instability by Bretton Wood Group of Institutions with the collaboration of a thieving clan of do or die politicians. Like other African economies, Nigeria suffers from experimental economic theories, strategies and prescriptions from the BWIs. Nigeria’s political class and the intelligentsia have allowed the manipulative and exploitative tendencies of the BWIs in her economy. How far have you gone with government and, may be private institutions, to ensure the right things are done? We have received government’s attention. We had several meetings with the Coordinating Minister of the Economy team; Ministry of Trade, Industry and Investment; Ministry of Culture, Tourism and National Orientation. We are also discussing with the Central Bank of Nigeria on the implementation of the economic, industrial and technology transformation model.

Omoleh

thronement of value-based leadership in our polity, Nigerians will not beg for men and women who embrace a higher nobility of purpose and conduct; people who provide service with an attitude of integrity, honesty, compassion and godliness, but like a natural course, mediocrity will be exposed, people will be tested and incompetence will be removed from the several systems in Nigeria.

We have concluded discussions with the organised private sector and we are already in the process towards launching the project. First, we shall have a presentation day and press conference at the Lagos Chamber of Commerce and Industry. In the past, under SME secretariat, we have anchored several SME schemes, partnerships and collaborations. We are a partner to NIDO and whenever they have programmes like international seminar, trade missions in Nigeria and abroad, they contact us and we work together. Nigeria turned 54 as an independent nation last week. How would you rate the leadership in terms of economic development and otherwise? Let me refer to Chinua Achebe’s evergreen masterpiece titled: The Trouble with Nigeria, which demonstrated Nigeria’s problem as leadership at different levels. Some other works and survey have identified corruption as the primary problem plaguing Nigeria. From our strategic opinion, talking too much about a parasitic or decaying problem does not proffer long term good for us. The twin problem of corruption and dearth of valuebased leadership simultaneously pulls down development progress. One solution we have designed to address this double-barreled parasite is to identify the gaps one by one, expose them and provide strategic models and modular intervention schemes to solve the problems. Nigerians will not beg for the en-

Our projects are designed to improve SME access to finance and business development services, thereby fostering SME growth, competitiveness and employment creation

What role will SION play in this regard? As a sequel to a number of successful consultations and high level deliberations across the offices of the President of the Federal Republic of Nigeria, incomparable cabinet and other relevant ministries, departments and agencies relevant to the Nigerian economic industrial boom and in view of the implementation of the World Economic Forum Agreements, the Project Executive Task (PET) team has orchestrated the operational roadmap for the implementation of this national intervention. The project, which is intended to be OPS focused, is aimed at fashioning out an agreed coordinated approach to drive real growth process by utilising the macro-economic model of ensuring that economic funds made in Nigeria are ploughed back into the Nigerian economy for growth through massive job creation, reduction of poverty and inequality, development of technology driven industrialisation with eco-social reform, strengthening institutions and scale up investment in research, capital market revamps,

Business | Interview

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

not be mistaken for devt –Omoleh robust action on multi-stakeholder approach, cooperation, implementation of innovative policies, among others. The PET Team includes eminent Nigerians like Prof. Jerry Gana as Chairman, Mazi Sam Ohuabunwa, Dr. Ernest Ndukwe, Hon. Collins Nweke and a host of others. The PET Team has been involved in policy development for the liberalisation of trade and the development of SMEs. Our projects are designed to improve SME access to finance and business development services. This will fostering SME growth, competitiveness and employment creation – key to achieving economic growth and poverty reduction – which will address term financing constraints faced by banks in their SME lending and hence, enable SMEs to access longer term funds for capital formation. For us at SION, the essence of leadership in any polity is the recognition of real need, the uncovering and exploiting of contradictions among values and between values and practice, the realigning of values. The leaders’ fundamental act must be to induce people for good and to be aware or conscious of what they feel. Nigerians want to see progress and development by bringing up men and women who have the dogged leadership capacity that will provide a sense of direction towards achieving national goals as well as harness and effectively oversee the utilisation and allocation of scarce national resources for the provision of basic needs of the citizenry. Nigerians want to see a stop of the preponderance of rent-seeking traders, looters and impostors who populate the recesses of power at all levels of our polity and parade themselves as leaders of a free nation. Nigerians want freedom from lack in the land of plenty. How do you intend to achieve this? The SION is set to review a long list of drawbacks and focus on implementation or values recovery systems. With the full implementation of the values recovery system, Nigerians will have greater enthusiasm and patriotism for the task of nation building. This will lead to a formidable culture of social responsibility and a reputation of integrity, fairness, equity, honesty and reliability, openness, accountability, transparency and trust between the citizenry and those leading them. In this process, Nigeria would have risen from the ashes of failure, reborn and renewed to lead Africa to take its rightful place in this new global order. The SION has set its strategy to arrest the development drift in Nigeria and secure the future of Nigerians. This is an action-based conceptualisation of a good Nigerian society. Nigeria has been adjudged as having the biggest economy in Africa. What does this actually translate to in terms of economic development? I think most Nigerians fail to realise the difference between economic growth and economic development. You will agree with me that electricity, motion picture, financial institutions, arts, entertainment and recreation, plastic and rubber as well as coal mining are the fastest growing sectors in Nigeria. Crop production (agriculture), trade, crude petroleum and natural gas, telecoms and infor-

opment of key sectors of the economy such as power, agriculture, MSMEs, oil and gas and health, among others. What is your view on the power situation in the country? Would you say government has gotten things right with privatisation of the sector? Power has been a challenge in Africa’s oil rich nation with output consistently wobbling between 3,000 Mega Watts and 4,000 MW. However, we expect that the privatisation exercise will lead to greater output and realisation of government’s target of 40,000 mega watts by the end of 2020. The question now is: “Do we have enough efficient operators to manage the systems of generation, transmission and distribution? With the current feasibility of operators, do they have an operational capacity to generate sufficient electricity for transmission and distribution? Can we have 40,000 electricity generation companies to produce 1,000 MW? Then we can reliably say that we are on the right roadmap to achieving power for all in the year 2020. Prior to your current project, which area or areas have you been involved with government in the past? Before now, our PET Team successfully deployed a Credit Possible Solution for the implementation of the Entertainment Enterprise Fund – this solution was presented to the Minister of Culture, Tourism & National Orientation, Chief Edem Duke, and a copy was also presented to the MD/CEO, NEXIM Bank, Mr. Robert Orya. To kick-start the operation of this laudable project, we have been engaged in fundamental local and international research that has propelled our balance and efficiency in handling the project effectively, held several high level deliberations and meetings with Nigerian economic stakeholders and our investment counterparts and hired technocrats in the specialised industry fields we want to operate. At the moment, we have five sources of funding for the project, namely the FDI, Foreign Aid, Equity & Venture Capital, sectoral, and government.

Omoleh

mation services, real estate, food, beverage and tobacco are the largest contributors to Nigeria GDP. Having understood our problems as a nation, let us now understand what we need. As a people, we urgently need Economic Development. Economic Development is synonymous with national development, which involves the provision of tangible service and social amenities that enhance the value of life and ultimately encourage enhanced long term productivity of the people, thereby increasing the financial capacity of a state and her citizens through their active involvement in international trade. In this case, economic development differs from economic growth. Economic development is a policy intervention endeavor which is aimed at the economic and social well-being of the people; economic growth is a phenomenon of market productivity and rise in gross domestic product (GDP). Economic growth is one aspect of the process of economic development. This confirms why poor countries sometimes experience economic growth with little or no economic development. At this time, Nigerians and the global community are watching to see how the economy will revamp itself after the rebasing of her GDP. From available survey, even if our economy is growing, interviews across the states shows that Nigerians are not yet feeling the physical impact of economic growth. The Federal Government, through the Coordinating Minister for the Economy, cannot afford to concentrate only on fiscal and monetary policy stability. Additional measures are required towards identifying real productive sectors of the economy, putting in place the right monitoring and performance measures in order to ensure that the goals of increased employment and poverty reduction are attained. Development finance and intervention, which our project seeks to achieve, is fundamental to the devel-

Economic Development is synonymous with national development, which involves the provision of tangible service and social amenities that enhance the value of life

Who are your partners? Aside from the OPS (comprising: MAN, NACCIMA, NECA, NASSI, NASME, LCCI and NESG) and SME Secretariat, which are the official core partners for this project, other co-partners, in the spirit of Public-Private Partnership (PPP) arrangement are the - Ministry of Finance; Ministry of Industry, Trade and Investment; CBN; NNPC: Ministry of Power and Ministry of Communications and Technology, other strategic MDAs; Bank of Industry (BoI); Bank of Agriculture (BoA); commercial bank partner; international research partner; Nigerians in Diaspora Organisation (NIDO). Our operational strategy is to engage the OPS as partners in progress to jointly own this project, with a view to further boosting the renewed identity to create a people–development economy, including of course a new framework for industries, especially SMEs in the country. Our concern is that while Nigeria had witnessed impressive GDP growth rates over the past seven years; we still experience the absence of a corresponding reduction in the unemployment rate, resulting in worrisome increasing rate of youth unemployment.

Business | Global News

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

US oil imports climb as global price slumps

nited States oil imports from West Africa and the North Sea will increase after global crude prices fell faster than the American benchmark, according to Lipow Oil Associates LLC, an energy consultant. West Texas Intermediate cost $2.46 a barrel less than Brent crude at the weekend, the smallest discount in 13 months, according to data from the ICE Futures Europe exchange. It traded at $3.34 at 3:23 p.m. in London on Friday. Restrictions on shipping oil from the Gulf of Mexico to the East Coast means that imports will now be more attractive than domestic supplies,

Andy Lipow, the company’s president, said. Shipments of oil between US ports must be carried on vessels owned and built in the country, and crewed by citizens. Just 1.1 per cent of the global oil tanker fleet complies with this law, known as the Jones Act, according to data compiled by Bloomberg. That means international freight costs are lower per mile because the supply of vessels is greater. The WTI discount is now small enough for this cost difference to spur imports, Lipow said. “The narrowing of the spread will attract crude from West Africa and the North Sea to compete with Jones Act tankers

in the US,” Lipow said. “This will further add to supply in the US, causing the Brent-WTI spread to widen to stop that flow.” The price of Brent has dropped more quickly than WTI as Libyan crude exports were restored while Chinese demand for oil grew at a slower rate, the head of commodity markets strategy at BNP Paribas (BNP), Harry Tchilinguirian, said by e-mail weekend. “We’re at the point where vessels are being chartered now with options to come to the U.S. whereas two or three

weeks ago, that wasn’t even a viable option to request,” Thomas Finlon, director of Energy Analytics Group LLC in Jupiter, Fla., said. Refineries on the US East Coast processed 1.2 million barrels a day of crude in the week to September 26, according to data from the Department of Energy. That was 7.4 per cent of the nation’s total refining input, the data show. There are 50 crude and product tankers with total capacity of 7.6 million deadweight tons that are compliant with the Jones Act, according to data re-

leased by the US Department of Transport on September 16. The global tanker fleet numbers 4,432, with a capacity of 480.4 million deadweight tons, according to data compiled by Bloomberg. New imports lured by the narrowing WTIBrent spread probably won’t begin arriving until November, because domestic supplies are already scheduled for October delivery to refiners, according to a Bloomberg survey of eight traders and brokers active in US physical crude markets.

Marriott fined $600,000 for blocking customers’ Wi-Fi

global hospitality company, Marriott International Inc., was fined $600,000 by the United States Federal Communications Commission for blocking hotel customers from connecting to the Internet on personal Wi-Fi networks in order to force them to pay for the hotel’s network. Bloomberg reports that Marriott employees blocked mobile “hotspots” at the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee, while at the same time charging consumers, small businesses and exhibitors as much as $1,000 per device to access Marriott’s WiFi network, the FCC said

in a statement. “Consumers who purchase cellular data plans should be able to use them without fear that their personal Internet connection will be blocked by their hotel or conference centre,” FCC Enforcement Bureau Chief, Travis LeBlanc, said in the statement. Under a consent decree with the FCC, Marriott must stop using Wi-Fi blocking technology and file compliance and usage reports every three months for three years, the FCC said. Bethesda, Marylandbased Marriott, the world’s second-largest publicly traded hotel chain, also will pay a civil penalty of $600,000.

Canada to start first carboncapture coal power plant

anada is poised to open the first largescale power plant that will burn coal while cutting carbon emissions by 90 per cent, part of an effort to continue the use of fossil fuels without worsening global warming. The 110-megawatt project will cut carbon dioxide emissions by about 1 million metric tons annually, by trapping it before it enters the atmosphere and pumping it underground. Countries from China to the United States are seeking ways to reduce the environmental impact of burning coal for heat and power to take advantage of plentiful supplies of the fuel. Carbon capture and storage, or CCS, while operational in only a handful of countries, is expected to play a key

role in meeting growing demand for power without contributing to climate change, according to the International Energy Agency. “CCS is the only known technology that will enable us to continue to use fossil fuels and also de-carbonize the energy sector,” executive director of the Paris-based IEA, Maria van der Hoeven, said in a statement. “As fossil fuel consumption is expected to continue for decades, deployment of CCS is essential.” Earlier attempts to use CCS at coal plants have failed under the weight of high costs. In 2011, American Electric Power Co. (AEP) shelved plans to add the technology to a power plant in West Virginia, a project estimated to cost $668 million.

L-R: Sen. Robert Menendez, D-N.J., Republican New Jersey Governor Chris Christie, House Minority Leader, Nancy Pelosi of California and Rep. Donald Payne, Jr., D-N.J., hold hands at the opening of a new prisoner re-entry center in Jersey City, New Jersey.

S&P faces probe over mortgage bonds

ew York Attorney General, Eric Schneiderman, is investigating Standard & Poor’s to determine whether it failed to follow its own methodology in rating commercialmortgage bonds in order to win business from banks, according to two people with knowledge of the matter. The unit of McGraw Hill Financial Inc. (MHFI) is facing scrutiny on six such deals it graded in 2011, said the people, who asked not to be identified because the probe hasn’t been made public. Ed Sweeney, a spokesman for S&P in New York, declined to comment, as did Matt Mittenthal, a spokesman for Schneiderman. The New York Attorney General’s office is, at least, the third government agency investigating S&P’s business of grading commercial mortgage-backed securi-

ties, in which banks pool loans on properties such as shopping malls, hotels and skyscrapers to create securities that are sold to investors. S&P said in July that it received a notice from the U.S. Securities and Exchange Commission that the regulator may seek an enforcement action related to the firm’s CMBS ratings in 2011. Massachusetts Attorney General, Martha Coakley, is also looking into how the firm rated such securities, people familiar with the matter said last year. The ratings firm is separately facing a $5 billion lawsuit filed by the US Justice Department in February 2013, alleging that S&P and its parent inflated ratings on bonds backed by home loans made to the riskiest borrowers to win business from Wall Street banks. S&P, along with

Moody’s Investors Service and Fitch Ratings, were blamed for helping trigger a financial crisis that sent the world’s largest economy into its longest recession since 1933. After the Justice Department filed the lawsuit, S&P said it would defend itself “vigorously” against the “meritless” claims. Four days before receiving the SEC warning on July 22, S&P cut almost a third of its CMBS group and transferred department head, Peter Eastham, to a role in his native Australia, according to a person with knowledge of the move. Following the reduction, there were about 32 people in the group. The SEC alleged violations related to the CMBS rankings and “public disclosure made by S&P regarding those ratings thereafter,” according to a July 23 regulatory filing.

News 45

NEW TELEGRAPH monday, OCTOBER 6, 2014

Consensus candidacy is democratic, says Chime negotiation

Enugu governor sees no wrong in the arrangement that threw up Ugwuanyi

nugu State Governor, Sullivan Chime, said yesterday in Enugu that consensus candidacy was democratic in politics, if the people approved of the arrange-

ment. He spoke while addressing journalists on the recent emergence of Mr. Ifeanyi Ugwuanyi, as the consensus governorship candidate for the Peoples Democratic Party (PDP) in the 2015 elections. “I do not see why any party at any level should be against negotiation, it cannot, under any circumstance, be described as undemocratic. “This is the most

democratic thing; this is what lobbying is all about. We are not running contrary to the rules of the party; we are doing what the party encourages, that is dialogue. “In Enugu, we do not anoint candidates, we allow the people to speak. What we did was a feat. We achieved a feat,” he said. The governor said Ugwuanyi would, nonetheless, go through party

primaries to validate his choice as a consensus candidate. Chima said he recently convened the meeting of stakeholders from the Enugu North senatorial district, where PDP zoned the gubernatorial slot to. He explained further that when Ugwuanyi was nominated, there was no dissenting voice. The governor added that all the stakeholders from the district, includ-

ing retired and serving public servants, attended the meeting, where Ugwuanyi was endorsed. “Everybody was given the opportunity to speak and the two people who moved and supported the motion to endorse Ugwuanyi were aspirants as well,” he said. The governor said in spite of the development, other aspirants would not be prevented from purchasing forms for the primary elections

of the party. Chime urged the people to support the endorsement of Ugwuanyi in the interest of peace and unity in the state. Ugwuanyi is a member of the House of Representatives, representing Igbo-Eze North/ Udenu federal constituency.

Group faults Enugu gov Onyekachi Eze ABUJA

L-R: Chief Commercial Officer, Airtel Nigeria, Maurice Newa; Chief Executive Officer, Kennis Music, Kenny Ogungbe and Managing Director, Trace Nigeria, Sam Onyemelukwe, at the Airtel Trace Music Star Press launch, in Ikeja, Lagos

Obende: Jonathan can’t win in Edo Cajetan Mmuta BENIN

he senator representing Edo North senatorial district in the National Assembly, Senator Domingo Obende, has urged President Goodluck Jonathan to concentrate on strategies that will earn him victory at the polls rather than beating war drums on how the Peoples Democratic Party (PDP) hopes to take over power in Edo State. Obende said the APC was deeply rooted in the state and would therefore be no longer business as

usual after the Federal Government failed the people of the state after they voted massively for the President in 2011 and yet got nothing to show for it. Speaking during an interview with newsmen in Benin, Obende described the South-South unity rally organised by the PDP as the gathering of political prostitutes and men who have no credibility to sway votes in favour of their political party. Obende spoke against the backdrop of President Jonathan’s declaration that the PDP would take

over Edo and Rivers States come 2015 and 2016 respectively. But the lawmaker said, “‘magine putting political prostitutes together and saying you are going to win Edo State. How are you going to win Edo State? A prostitute remains a prostitute. She works for the highest bidder everywhere. “For me in Edo State, APC holds the ground and there is something I want to say here. In 2011, Edo State was not a PDP state, but we voted for Jonathan, because everybody expected so much from him.”

‘Lawmakers must account for N36m annual constituency funds’ Cajetan Mmuta BENIN

ajority Leader of the Edo State House of Assembly, Hon. Phillip Shaibu, has asked lawmakers in the state to account for the yearly N36 million constituency funds collected by them. He also tasked the electorate to demand for ex-

planation from incumbent legislators how they spend a whopping N36 million yearly constituency funds approved by the House for projects in their various localities. Besides, Shaibu challenged those seeking for elective positions to rise above board in ensuring that they deliver on their campaign promises if elected as that would pave

way for them in future as well as meet the yearnings and aspirations of people they hope to represent. Shaibu said this at the weekend during an interview with newsmen shortly after inaugurating three blocks of classrooms at Oyagha Primary School and Ugieda Primary School, all in Jattu and South Ibie communities in Etsako West council area of the state.

Ibeto eyes Niger governor’s job Dan Atori MINNA

pressure group, the Niger Consensus Project, has called on the people of Niger State to give maximum support to the candidature of the deputy governor, Ahmed Musa Ibeto, for the 2015 gubernatorial election in the state. The group’s spokesman, Aliyu Mohammed Gambo, said this while addressing journalists in Minna. He said Ibeto has been loyal, trustworthy, experienced and a grass root politician, who gave maximum sup-

port to the administration of governor Muazu Babangida Aliyu. Gambo added that the vision of the group was to promote and mobilise the people for Ibeto’s 2015 governorship election, describing him as a bridge builder and patient person, who is the most experienced among all those that have indicated interest in the exalted office. He said: “Ibeto is the right person for the job, because he has proved himself to be honest, trustworthy, loyal, who can carry out the activities of government to the next level, especially Vision 20:2020.”

Aginighan takes Ijaw crusade to Uduaghan Gabriel Choba Ughelli

ormer Acting Managing Director of the Niger Delta Development Commission (NDDC), Power Ziakede Aginighan, yesterday urged the Delta State Governor, Dr. Emmanuel Uduaghan, to correct the injustice done unto the Ijaw people

before handing over on May 29, 2015. Aginighan, who made this known in an online letter to Governor Uduaghan said the governor’s predecessor in office, Chief James Ibori, delivered the Bomadi Bridge as the only legacy project for the Ijaw people during his eight-year administration, saying that the Ijaws will forever be grateful to him.

political group, ‘Enugu Conscience Group,’ yesterday warned the leadership of the Peoples Democratic Party (PDP) to avoid a repeat of the 2011 scenario, where Enugu State submitted two separate electoral lists to the Independent National Electoral Commission (INEC) as a result of two parallel congresses. The group in a statement by its Secretary, Uchenna Nnamani, advised political gladiators to spare the state of unnecessary and avoidable crisis by allowing for free contest among aspirants to the party’s ticket. This is against the adoption of one of the aspirants, Hon. Ifeanyi Ugwuanyi, as a consensus governorship candidate for PDP in the February 28, gubernatorial election. The group said the adoption was a conspiracy of a few to foist their wishes on the generality of the people of Enugu State. “The endorsement is of the same status with what former Governor Chimaroke Nnamani did when he singlehandedly named the present governor, Sullivan Chime, as the PDP candidate for Enugu State in 2007 against the popular wish of the people. “This so-called endorsement has once again challenged the people of Enugu State in their quest to produce a governor, whose emergence will reflect the wishes and aspirations of the people. We therefore call on all stakeholders to resist the forces of darkness that are bent on stagnating political developments in the state,” the statement added. Chairman, Senate Committee on Works, Senator Ayogu Eze, who is also a governorship aspirant to the Enugu Government House, had earlier rejected Ugwuanyi’s adoption, saying he has not stepped down for him.

News

MONDAY OCTOBER 6, 2014 NEW TELEGRAPH

Waku, Jime, Audu in race to succeed Suswam Cephas Iorhemen Makurdi

s the All Progressive Congress (APC) released its timetable for the conduct of next year’s general elections, Benue State chapter of the party says it is shopping for a credible candidate that will take over from Governor Gabriel Suswam. Besides, the party says the issue of zoning as being canvassed by certain

groups and associations in the state that the position be relinquished to them, is virtually not on the party’s card for now. About five APC members including Senator Joseph Waku, House of Representatives member, Hon. Emmanuel Jime and former Permanent Secretary, the Bureau of Internal Affairs and Boundaries, Mr. Akange Audu are jostling for the position. Spokesman to Prof.

Steve Ugba, the party’s 2011 governorship candidate, Mr. Simon Imobo-Tswam expressed the determination of the party to dislodge the ruling People’s Democratic Party (PDP) to New Telegraph in an interview in Makurdi yesterday. He said the party is ready to ensure a repeat the feat it achieved eight years ago when in three months it took the state by storm and created an impact through an overwhelming

support of the people. “We are looking for a credible candidate who has statewide appeal, a tested, confirmed and experienced politician who combines charm and action; someone who will talk less and work more. “We want a visionary person who is eminently prepared for the challenges of leadership especially now that the Tiv nation is beset on every side by decay, violence and terror

merchants, and so the issue of zoning is not on the cards”, said Tswam. The Benue State-born journalist who hinted of the APC’s plan to field its defeated gubernatorial hopeful during the 2011 general elections, Prof. Ugba into the 2015 contest, denied that he (Ugba) was beaten by Suswam. He explained that Ugba went to court to seek justice but was not given fair hearing by the jurists,

whom he maintained were audacious and continued to wallow around the controversial 180 days issue. According to him, Prof. Ugba is not jittery over the recent defection of APC strong supporters to the PDP, and further dispelled the reported political rift between Senate Minority Leader and leader of the party in the state, Senator George Akume and Ugba, stressing that the party is not mourning the exit of its members.

‘APC’ ll bounce back in Ekiti’ Adesina Wahab Ado-Ekiti

President Goodluck Jonathan (left), presenting the Officer of the Order of the Niger (OON) Award to former President of the International Federation of Women Lawyers (FIDA), Mrs. Stella Ugboma, in Abuja…recently

DSIEC tasks media on professionalism Abaribe: I’m sure of journalists, harped on strict permit yellow journalism. picking PDP ticket Dominic Adewole adherence to the provisions According to him, of Asaba

he Delta State Independent Electoral Commission (DSIEC) has charged media practitioners to uphold the ethics of the profession. The commission, which condemned “sloppy and junk reporting” among

of the 2010 Electoral Act. Chairman of the commission, Mr. Moses Ogbe, who spoke at the maiden DSIEC/Nigeria Union Journalists (NUJ) Workshop in Asaba, said the standard of reporting expected of journalists during elections does not

necessity, every report before, during and after every election, must pass through the most thorough soul search, to ensure that what is released for public consumption is factual and presented in a manner that would not cause undue anxiety.

ASUU: Nigeria’s education is dysfunctional Sola Adeyemo Ibadan

he Academic Staff Union of Universities (ASUU) has rated the current education system in Nigeria as dysfunctional and incapable of making the nation a forerunner in the global education system.

Former president of the union and Chairman, Local Organizing Committee of National Education Summit being put together by the four unions in Nigerian Universities, Dr. Dipo Fashina stated this in Ibadan over the weekend while briefing newsmen on the forthcoming summit holding in Abuja between October

27 and November 1, 2014. Fashina, who hinted that the national education summit will x-ray the current education system in the country with a view to restructuring it to liberate Nigerians, stressed that the current system will continue to make Nigeria an appendage to Europe and America if not urgently addressed.

Igbeaku Orji Umuahia

enate spokesman and PDP governorship aspirant in Abia State, Chief Enyinnaya Abaribe has said that he has no fear of picking the ticket to fly the party’s flag in 2015 because the primary that will produce the candidate is purely a PDP business in which only party members would decide the outcome. He said that as a loyal party man he is not afraid of those who have jumped into the party now to actualize their ambition arguing that no true party man will accept a nonparty man as a candidate because such would soon abandon the party as soon as he realizes his ambition. Speaking to journalists

at his Ohuru country home in Obingwa council area weekend, the former Abia State deputy Governor said that to actualize the ambition, he has set up machinery to formally commence campaign even as INEC has released the time table for the elections. He explained that his manifesto would not be different from that of the party. Abaribe disclosed that the acronym for his campaign is Alasala Campaign Team (ACT) hinting that he was going to bring to the governance of the state three core pillars, including values, competence and integrity. “The Governor’s job is not to be the engineer. His job is to assemble a team of tested people who can do what the people expect from him.”

Fayose vs Fayemi: Group warns against subversion of people’s will Adesina Wahab Ado-Ekiti

fter the peaceful conduct of the June 21 governorship election in Ekiti State, a socio-political group, the Coalition of Democracy Vanguard, has urged politicians in

the state against acts that could subvert the will of the people freely expressed during the election. Speaking in Ado-Ekiti on Sunday, the President, Mr. Femi Omoya said democracy would be a mockery if people’s will is doctored and twisted

by politicians acting in concert with some elements either in the judiciary or legislative arm of government. Omoya, speaking on behalf of his group, was reacting to recent developments in the state. He described the al-

leged attempt by some people to disqualify the Governor-Elect, Mr. Ayo Fayose, after winning the June 21 election handsomely as a ‘coup against democracy and the people of the state.’ He lambasted the outgoing governor, Dr. Kay-

ode Fayemi for allegedly attempting to subvert the will of the people through a suit filed by his party’s (All Progressives Congress’) proxy, saying that Ekiti people would resist any subterranean effort being made to nullify Fayose’s election.

he Chairman, House of Representatives Committee on Communications, Mr. Oyetunji Ojo, has said the loss of his party, the All Progressives Congress (APC) in Ekiti State in the June 21 governorship is just a temporary setback for the party in the state. The lawmaker, who is son in-law of APC national leader, Bola Tinubu represents Ekiti Central Federal Constituency (two) in the National Assembly. He told newsmen yesterday after commissioning some projects he initiated in Ekiti West, Ijero, and Efon local government areas that the APC would soon bounce back. He described as fake, recent claims by some leaders of Peoples Democratic Party (PDP), that scores of APC members were defecting to their party in droves. “I can tell you without any fear of contradiction that irrespective of what the opposition parties maybe saying, our party is still firmly on ground and people will get to know this in not too distant time, all that is happening now is just for a while”, he said. Ojo, who is married to Tinubu’s first, Folashade said contrary to such claims, APC in the state was still intact. He urged members of the APC across the state not to be bothered by the development, saying efforts should be geared towards winning all other elective offices such as Senatorial, House of Representatives as well as House of Assembly seats in next year’s general election in the state. Ojo who is seeking reelection, said concerned leaders of APC in the state had been meeting to ensure the party was strengthened and all aggrieved persons reconciled, preparatory to next year’s poll.

EID-EL-KABIR CELEBRATION

NEW TELEGRAPH MONDAY OCTOBER 6, 2014

News 47

Borno, Taraba pilgrims pray for end to insurgency Ibrahim Abdul Saudi Arabia

isturbed by the insurgency plaguing their states, pilgrims from Borno, Adamawa and Taraba States currently performing this year’s pilgrimage in Saudi Arabia, yesterday offered special prayers to God for an end to Boko Haram insurgency and other vices in Nigeria.

They said they did not only pray for themselves, their immediate families and friends while performing the pilgrimage, but that they asked God to restore peace, harmony and progress in all parts of Nigeria, particularly in Borno and Taraba States, worst hit by insurgency. Executive Secretary of Taraba State Muslim Pilgrims Welfare Board, Alhaji Habibu Al-Maki, said

as citizens of Nigeria and indigenes of Borno and Taraba states, they had a responsibility to wish their states and Nigeria well by offering special prayer for the general progress of the nation. “We organised special prayers, we prayed for peace to reign. We prayed that Boko Haram, which is a problem in Nigeria, should be put to an end and the problems of armed robbery, kidnap-

ping, killings as well as other ethno-religion conflicts in different parts of Nigeria being witnessed in recent time,” he said. Also in an interview, Adamawa State Amirul Hajj, Emir of Mubi, Alhaji Abubakar Isa Ahmadu, said they offered special prayers for the progress of Nigeria in general. He said pilgrims from the state also offered special prayers for peace to reign in all parts of Nigeria.

L-R: Alhaji Morayo Giwa; Alhaji Otunba Lateef; Senator ‘Gbenga Ashafa and Mr. Owolabi Emokpare, during the Eid-el-Kabir prayers at Magodo praying ground in Lagos…at the weekend

The percentage of the total population under 15 years in Bolivia in 2012. Source: Un.org

$US166.9bn

The nominal GDP of Philippines (World Bank) in 2009. Source: Blatantworld.com

53%

The fatality rate of Ebola virus outbreak in Sudan in 1976. Source: Who.int

Lagos seeks end to deprivation, poverty Muritala Ayinla

hairman of the Lagos Secretariat Mosque and Solicitor General of the state, Mr. Lawal Pedro, has urged the Federal Government to address problem of injustice, deprivation and poverty as solution to the current security challenges in the country. Pedro, who described the cesspool of corruption, deprivation and poverty in the country as the breeding ground for insurgency, charged the Federal Government to overhaul the current political system and develop a system that would not encourage corruption and negligence of the poor. He made the disclosure after the Eid-elKabir prayer held at the mosque’s open field, Alau-

sa, Ikeja at the weekend. The chairman, who was reacting to the continued killing of innocent Nigerians by the dreaded Boko Haram sect, said the killings might not stop until the Federal Government overhaul the current system, which according to him, makes corruption, deprivation and poverty thrive. Commenting on the security situation in the country, Lagos State Governor, Babatunde Fashola, urged Nigerians to brace up to surmount the challenges, saying it is the duty of Nigerians to rescue the country from the vices threatening to pull it down. The governor, who spoke after observing the Eid-el-Kabir prayers at the Lagos Central Mosque located in La-

gos Island, said all will be well with the country. He said: “First, I use this opportunity to wish all Muslims Eid Mubarak and all Nigerians peace, but whatever we want for ourselves lies in our hands to achieve. “I am sure that all will be well and it must be well only, because we want it to be well. If it is well within us, it will be well around us and in our nation.” Fashola said God has been very good to the

country by ensuring peace irrespective of aggressions and vexed issues. “Really, you must be grateful that you are alive and so, the last one year, everyday has been a season of countless blessings in spite of unwanted developments, but live goes on and as long as one is alive; “You must remain grateful for many things; peace, love, wellbeing and so long as there is hope, yesterday’s challenges can become history.”

“During these holy rites, we offered prayers for our state and country as a whole. “We joined many other Nigerians in praying for peace for the progress of the country; for the unity of the various people and we prayed that God would continue to bless Nigeria and that we work together for the development of the country in spite of all the diversities we have as a people and as a nation,” he said.

Mimiko, Obiano felicitate with Muslims Babatope Okeowo Akure

ndo State Governor, Olusegun Mimiko, at the weekend, felicitated with Muslim faithful in the state on the occasion of this year’s Eid-elKabir festival, charging them to imbibe the spirit of sacrifice in the interest of the nation. Mimiko in his message issued by his Chief Press Secretary, Eni Akinsola, urged Muslim faithful to use the season to reflect on the importance of sacrifice for the interest of the nation as exemplified by Prophet Ibrahim in the Holy Books. He said: “At this critical time in the history of our nation and as we approach another general election, I urge all Muslim faithful to rekindle the spirit of sacrifice, demonstrate love and tolerance towards our nation and one another.” “I rejoice and felicitate with all Muslim faithful in Ondo State and in Nigeria as they celebrate this year’s Eid-el-Kabir, and I wish them happy celebration,” Mimiko said. Meanwhile, Anambra State Governor, Chief Willie Obiano, yesterday urged muslims to pray for peace in the country.

Aregbesola distributes relief materials to less privileged Adeolu Adeyemo Osogbo

sun State Governor, Rauf Aregbesola, at the weekend, gave out relief materials worth thousands of naira to less privileged Muslim faithful in Iwo, during the celebration of this year’s Eid-elKabir festival in the town. The beneficiaries, numbering 305, who were orphans and widows, appreciated the hand of fellowship extended to them by the governor, praying that God would continue to be with him, direct him in the governing of the state. Distributing the items at Tahawun Mosque, Iwo, leader of Tahawun Muslim organisation, Sheikh Daud Imran, described Aregbesola as a kind and considerate

person, whose attributes could not be equated with other serving governors. He said: “The governor in his wisdom took the step to alleviate the suffering of the needy ones in the society, because he is a concerned leader.” Imran then admonished those at the helm of affairs to “emulate his good governance in terms of showing empathy to the needy.” The Islamic scholar while charging Muslims to be tolerant of others also told them to embrace peace at all times, arguing that; “It is only when there is tolerance and peace within the people living in the community, irrespective of their religious differences; that remarkable achievements, successes and harmony could be recorded.”

Esan monarch tasks Christians, Muslims on peaceful coexistence Cajetan Mmuta BENIN

he traditional ruler of Ewu in Esan Central Local Government of Edo State, Alhaji Rasak Ojeifoh, yesterday urged Muslims and

Christian faithful to see themselves as one creation, so that the country can be a better place for all to live in. Ojeifoh stated this in an interview with newsmen shortly after observing the Eid-el-Kabir

prayer in Ewu town. He tasked faithful of the two religions to use the opportunity offered by the Eid-el-Kabir celebration to reflect on the unity, peace and oneness of the country, asking all to imbibe the virtues of

God’s teaching on oneness in their daily lives and relationships. The monarch also harped on the importance of oneness as a vital tool towards achieving greatness as a people and a nation.

News

monday, OCTOBER 6, 2014 NEW TELEGRAPH

Bello may succeed Adefulire Muritala Ayinla

s consultations intensify for the governorship aspirants under the platform of the Lagos State All Progressives Congress (APC), indications have emerged that the Lagos State Commissioner for the Environment, Mr. Tunji Bello is being considered as the next deputy governor of Lagos State. New Telegraph authoritatively gathered that Bello has also been penciled to succeed the state APC

chairman, Otunba Henry Ajomale, should the plan to make him running mate of Fashola’s successor fails, depending on the religion of who eventually emerges as the party gubernatorial flag bearers in the November primaries. This is even as fresh facts emerge that aspirants such as former Accountant-General of Lagos, Mr. Akinwunmi Ambode and state Commissioner for Works and Infrastructure, Dr. Obafemi Hamzat, Leke Pitan

and other aspirants may be dropped for another less popular and less controversial and indeed a reluctant candidate in the next few weeks. This, is still subject to the decision of the former Lagos State Governor and National Leader of the party, Chief Bola Tinubu and Governor Babatunde Fashola, who, it was learnt, would ratify the final candidate who becomes the party flag bearer in the February 2015 general election.

Already, about 10 aspirants of the APC are struggling to get the governorship ticket. While few eminent citizens within and outside the party are clamouring for the emergence of a Christian governor, others, including Governor Fashola want competence, merit and capability prioritised above religious consideration. He argued that good governance does not discriminate. Hence, there is also a stiff competition among

$9.3m: N/ Central CAN flay attacks on Oritsejafor

loyal party members who want to be running mate to the flag bearer. According to the sources in the party, if the argument of those bent at emergence of Christian Governor scales through, a male Muslim Deputy like Tunji Bello, who is seen as a bridge between the out-going government and the in-coming administration may automatically become inevitable, thereby altering the political calculation of a female Deputy Governor.

L-R: Director-General, State Security Service (SSS), Mr. Ita Ekpenyoung; Minister of Finance, Dr. Ngozi Okonjo-Iweala; Akwa Ibom State Governor, Chief Godswill Akpabio and Cross River State Governor, Sen. Liyel Imoke, during the wedding of the son of Mr. Ita Ekpenyoung (Inimfon), in Abuja…at the Weekend

Makurdi Catholic Diocese gets ASSUS tasks teachers new Co-adjutor Bishop on ICT skill Cephas Iorhemen Makurdi

he Catholic Diocese of Makurdi, Benue state at the weekend celebrated the ordination of Mosignor Wifred Chikpa Anagbe as the new co-adjutor bishop of the diocese. Anagbe, the first to be ordained a Claretian Bishop in Nigeria and the 21st among the living Claretian bishops of Catholic faith worldwide is expected to take over from Bishop Anthanasius Usuh who has attained 75 years retire-

ment age. Anagbe by his ordination will be on acting capacity with the automatic right to succeed Usoh in the event he dies or resigns his position as the bishop of the Makurdi diocese. In a message delivered at the episcopal ordination ceremony held at IBB square in Makurdi, Archbishop Augustine Kasujja who is the apostolic Nuncio to Nigeria on behalf of the conference of Catholic bishops, said Usuh deserves more than an applause.

PUBLIC NOTICE

IBILE PEACEFUL ASSEMBLY The general public is hereby notified that the above ASSEMBLY has applied to the Corporate Affairs Commission for registration under the Companies and Allied Matters Act No. of 1990. The Trustees are: 1. AUDULLAHI SAHEED MOSADOLUWA — CHAIRMAN 2. AZEEZ ADEKUNLE LAWAL 3. ABIODUN OGEDENGBE — SECRETARY 4. ALI ABEEB AKANBI AIMS AND OBJECTIVES: To champion the interest and welfare of the less priviledge. 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: NWEKE ANDY OJO ESQ. 08033955229, 08056607492

Babatope Okeowo Akure

he Ondo State Academic Staff Union of Secondary Schools (ASSUS) yesterday directed teachers of secondary schools in the state to acquire Information Communication Technology (ICT) skills if they want to remain relevant in the teaching profession. The Chairman of ASSUS, Mr. Dayo Adebiyi in his remark to mark this year’s edition of World Teachers Day celebration said teachers should be ready to take the opportunity to develop the use of computer or be ready to lose their means of livelihood as modern day teaching methodology require the use of computer. Adebiyi said the union would be ready to help the teachers to acquire computer and the needed training so as to remain relevant in the teaching profession. His words: “Note that education without computer literacy will soon become very obsolete both professionally and personally. This has to do with skills required to

surf the net, navigate the World Wide Web and use internet resources and services. “We have arranged to assist all our members who are yet to acquire their own computer laptop or tablets to apply for the third batch of the system as we have concluded fresh arrangement for supplies of cheaper tablets for interested members to benefit from.” On the title of the celebration which is: “invest in teachers”, Adebiyi said the world today was witnessing an unprecedented rapid changes that is pervasive in all human endeavours, while the world has suddenly become a global village where nation states are all grappling with realities of defining their status and strength along both technology and scientific development in an emergent scientific global village of a cut-throat competition. According to him, the vehicle through which the global race is being prosecuted is ICT which leading nations like China, America, Britain, Japan, Russia, Germany, France.

Alaafin lauds Jonathan’s performance at UN

he Alaafin of Oyo, Oba Lamidi Adeyemi III, has applauded President Goodluck Jonathan’s performance at the 68th session of the United Nations Organisation (UNO) held in the United States of America. The monarch gave the commendation in a letter dated September 29, 2014 and addressed to the President, and made available to New Telegraph in Ibadan at the weekend. The letter reads: “I am writing this open letter to you to put on record my impression of your performance at the just concluded 68th session of the United Nations Organisation, which was held in the United States of America. “In particular, I wish to applaud the content and delivery of your speeches at the Assembly and the high level meeting of the UN Security Council meeting of Wednesday September 24”.

he Christain Association of Nigeria, CAN, at the weekend took an exception over what it called unwarranted attacks on its President, Pastor Ayo Oritsejafor over the recent involvement of his aircraft in the $9.3m arms deal in South Africa. The Christian body also washed its hands off in the whole affair and warned individuals and groups to desist from making unguarded utterances capable of misleading members of the public over the issue CAN, in a statement jointly signed by its Chairman, North Central Zone, Rev.Dr Yakubu Pam and Secretary, Rev.Moses J.Ebuga and made available to journalists in Jos yesterday said: “We have been watching with keen interest the unfolding events since September 5 ,2014 when the scandal broke out and attempts by individuals and groups to rope CAN into the whole affair and wish to state clearly that CAN as a body does not have a private jet. This is owned by an individual and not CAN and such has nothing to do with the jet and its mission. “Moreover, Pastor Ayo Oritsejafor as the President of CAN has informed us formally of the area of his involvement in which, he only leased the jet out and nothing more. Since it is not in his place to monitor who will hire the aircraft from the company, it does not follow to extend his role involvement beyond the point.

Chibok leader commends military operations against insurgents Yekeen Nurudeen Abuja

leader of Chibok community in Borno State, Peter Iliya has commended recent military operations in Konduga village, where several members of Boko Haram sect were killed. According to Iliya, who spoke to New Telegraph in Abuja yesterday, the military operations routed the insurgents, who were already making inroad into Maiduguri, the capital city of Borno State. He said that the operation has tremendously lifted the spirit of the people of Konduga and Maiduguri, who were hitherto, living in fear of the imminent takeover of the two places by the insurgents.

News 49

NEW TELEGRAPH monday, OCTOBER 6, 2014

Attack on judges: Lawyers drag Fayose, PDP to NHRC Tunde Oyesina ABUJA

awyers in a suit before the Ekiti State High Court challenging the eligibility of the state’s Governor-Elect, Mr. Ayodele Fayose, have petitioned the National Human Rights Commission (NHRC) over allegations of threats to life, violation of their rights to practice their profession against the governor-elect and the Peoples Democratic Party (PDP). In a petition addressed to the Executive Secretary of the Commission dated September 29, the litigants through their counsel, Norrisom Quakers (SAN) and M.J. Onigbanjo (SAN), accused the PDP of organising the thugs that invaded the Ekiti High Court premises on September 22 and attacked Justice Olusegun Ogunyemi and the claimants that were in court. The petition reads in part: “We write to report to your office and formally bring to your attention the barbaric and barefaced violation of the constitutionally guaranteed rights of the claimants (litigants), claimants’ counsel, the judge and other officers of the court by thugs who were organised by the PDP

on September 22 and invaded the Ekiti State High Court, particularly Honourable Justice Olusegun Ogunyemi’s courtroom.” The petitioners further stated that the claimants, having instituted a suit challenging the eligibility of Fayose to contest the June 21 Ekiti gubernatorial election were in court on the said date where a handful of Fayose’s supporters

even years after he was sentenced to death, a 77 year-old man, Dickson Umukoro, alongside three others have been granted state pardon by the Delta State Governor, Dr. Emmanuel Uduaghan to commemorate the nation’s 54 independence anniversary. Others had theirs commuted from life imprisonment to between 15 and 10 years respectively . Their release came at the weekend following the

governor’s prerogative powers as contained under Section 212 of the 1999 Constitution. Those released by the governor along with Umokoro were a 53-year –old Monday Tom and an unnamed adolescent who were on the hangman’s noose. Others are Dele Mokwunye, Ufuoma Paul Eto and Moses Orakpor, Uche Dike, Jonathan Igbi, Chukwuemeka Igwebuike, Chijioke Edeh, Augustine Okoroh and Joshua Musa.

Burutu/Warri North women settle for Clark Joe Obende Warri

urutu/Warri North Grassroots Women in Politics have settled for Ebikeme, son of former Federal Commissioner for Information, Chief Edwin Clark as their candidate of choice for the chairmanship slot in the forthcoming local government poll in Delta State. The women, who turned out in their hun-

“One of the litigants was dragged from his seat, assaulted and physically brutalised before forcefully dragging him on the floor out of the courtroom while police officers stood by helplessly,” the petition alleged. The lawyers, however, stated that they are apprehensive of the safety of their lives and that of the team, the dignity of their

human persons, their right to practice their profession and their clients’ rights as citizens of Nigeria to seek redress in the court of law. They further submitted that all the rights listed above were clearly violated by the instigated mob, whose objectives included ensuring that the court did not deliver its scheduled ruling at 12 noon or conduct any other business

thereafter. “We hereby urge you to use your good office and wherewithal at your disposal to investigate this matter, with a view to unearthing those behind this shameful display of banditry and gross violation of human rights with a view to prosecuting and bringing them to justice,” the petitioners added.

L-R: Marketing Manager, Colas, Coca-Cola Nigeria Limited, Bolajoko Bayo-Ajayi; Marketing Director, Coca Nigeria Limited, Patricia Jemibewon; Managing Director, Nigerian Bottling Company, Ben Langat; and Brand Manager, Colas, Coca-Cola Nigeria, Olufemi Ashipa, during the Coke Studio Campus Concert at the University of Lagos …at the weekend

Septuagenarian, others escape hangman’s noose as Uduaghan grants pardon Foluso Ogunmodede

attacked them. “…His [Fayose] crowd marched into Justice Ogunyemi’s courtroom where they started to stir trouble by challenging the police officers on their partiality in allowing the claimants to sit in the courtroom and not the defendants. It was obvious that this group of people had another agenda which subsequently unfolded.

dreds in solidarity with Clark said after a thorough scrutiny of all the candidates for the chairmanship position, submitted that they found him more credible than any other candidate. The other reasons adduced for settling for Him is that it is in appreciation of the good deeds of Ebikeme’s father, Clark, and that of the leadership of the Peoples Democratic Party in the local government area.

Aliyu: Oyo a role model for Bureau directs Fayemi, others to declare assets women in the media Dan Atori MINNA

iger State Governor, Dr. Mu’azu Babangida Aliyu, has described the late Oluremi Oyo as a distinguished media practitioner who is a role model for women in the profession. Governor Aliyu in a

press statement signed by his Chief Press Secretary, Israel Ebije, said late Mrs. Oyo who was the Managing Director of the News Agency of Nigeria (NAN) and former Media adviser to former President Olusegun Obasanjo, will be remembered for her role in repositioning media practice in Nigeria.

Forcados terminal achieves milestone

he Forcados Terminal in the western Niger Delta has achieved a significant 14 year milestone in oil lifting. The firm operated without a significant safety incident between September 2000

and September 2014, during which some 1.25 billion barrels of oil passed through the facility that is operated by the Shell Petroleum Development Company (SPDC) operated Joint Venture.

World Bank to engage 2,000 youths in Delta

orld Bank’s State Employment and Expenditure for Results (SEEFOR) in Delta is to engage 2,000 youths in refuse disposal techniques in different parts of the state. Its coordinator, Mr. Benson Ojoko said in Asaba yesterday that

the youths would be deployed to work in Oshimili South, Uvwie, Udu, Sapele and Warri South local government areas. The coordinator said 320 graduates of tertiary institutions would also be engaged to supervise the youths.

r Akinfolarin Feyisola, Director, Code of Conduct Bureau, Ekiti State, has directed Gov. Kayode Fayemi to declare his “end of tenure assets” unfailingly before the expiration of his tenure. Feyisola told the News Agency of Nigeria (NAN) in Ado-Ekiti yesterday that the directive also affected the outgoing deputy governor and other political office holders. He said that all the affected public officers had been duly informed.

Feyisola said that it was mandatory for every political office holder in all parts of the country to declare their assets when coming and leaving office. He said that defaulters would be dragged before the Code of Conduct Tribunal for going against the law. He said that some of the officers had started collecting the assets declaration forms after receiving the reminder of the constitutional provision.

Sultan, Wamakko advocate creation of state police

he Sultan of Sokoto, Alhaji Saad Abubakar III and Gov. Aliyu Wamakko of Sokoto have advocated the creation of State Police in the country to tacke insurgency . The two leaders spoke in Sokoto on Sunday, when the sultan paid the traditional Sallah homage to the governor. Abubakar, who was the first to speak, said state governments were already spending huge sums of money to provide vehicles

and security gadgets, among others to security agencies in the country. “Most state governments, if not all, provide one form of assistance or the other to security agencies; they build or renovate offices for them. ``The time for the creation of state police is now’’, the sultan said, adding that the creation of state would help in addressing current security challenges in parts of the nation,’’ he said.

50 WORLD | News

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Somali, African troops recapture key port from Shebab

omali troops backed by African peacekeepers yesterday recaptured the last major port in Somalia held by the Shebab, removing a key source of revenue for the Islamist militia, officials told AFP. “The army is in full control” of the port of Barawe, 200 kilometres (120 miles) southwest of Mogadishu, a Somali military official, Abdi Mire, said. “The situation is calm, and the militiamen had fled before the forces reached the town,” said provincial governor Abdukadir Mohamed Nur. “They could not

put up resistance and have emptied their positions.” The Shebab, Al-Qaeda’s main affiliate in Africa, exported charcoal through Barawe to Gulf countries, earning at least $25 million (19 million euros) a year from the trade according to UN estimates. “What is very significant is that the ‘capital’ of the Shebab has fallen,” a specialist on Somalia told AFP, requesting anonymity. The loss of the port comes a month after the Shebab’s supreme leader Ahmed Abdi Godane was killed in a US drone and

aircraft strike. The Shebab have vowed to avenge his death and continue their fight to topple the countries internationally backed government. Saturday, a Shebab commander, Mohamed Abu Abdallah, vowed that the militia would maintain pressure on Somali and AU forces even if the militia lost Barawe. “Let me assure you that we will never leave around Barawe, the

fighting will continue and we will turn the town into graveyards of the enemy,” he said, quoted by a pro-Shebab website. The strike against Godane came days after the AU and Somali troops launched a major offensive, “Operation Indian Ocean”, against the insurgents on several fronts. The 22,000-strong AMISOM forces, with soldiers drawn from six nations, have been fighting

alongside government troops against the Shebab since 2007. Losing Barawe and Godane in the space of a month constitutes “two major blows” to the Shebab, even more crippling than the military turnaround in 2011 that saw AMISOM and Somali forces take back Mogadishu, the analyst said. “What other major city do they have left? They have nothing left,” he said.

Hong Kong democracy protesters start to pull back

ro-democracy protesters remained in a tense stalemate with the Hong Kong government late yesterday after authorities warned they were determined to get the Asian financial hub back to work after more than a week of unrest. Some protesters left the Mong Kok area of the city, pulling back from the scene of recent clashes with those who back the pro-Beijing government. But many hundreds more remained, disputing reports on social media that their leaders had called for them to leave. “We’re afraid there may be a police crackdown, so we came here to support. The more people we have, the harder it is for the police to clear,” said Lester Leung, 25, who said he was ready to stay on the streets all night. Fearing a crackdown as city leaders have called for the streets to be cleared so businesses, schools and civil servants could resume on Monday, other protesters who have paralyzed parts of the former British colony with mass sit-ins also pulled back from outside Hong Kong Chief Executive Leung Chunying’s office. By late yesterday evening, Reuters reporters estimated around 4,000 protesters had gathered in Admiralty, the main area they have occupied over the past week at the heart of the government district - far fewer than rallied there the previous day. Over the past week, tens of thousands of protesters have demanded that Leung step down

and that China allow them the right to vote for a leader of their choice in 2017 elections. Facing separatist unrest in far-flung Tibet and Xinjiang, Beijing is fearful that calls for democracy in Hong Kong could spread to the mainland. The Communist Party leadership has dismissed the protests as illegal, but appears to have left it to Leung and his government to find a solution. In Mong Kok, a gritty, working class neighborhood where scuffles broke out between protesters and supporters of the government over the weekend, prompting police to use pepper spray and batons, some in the pro-democracy camp mixed defiance with pragmatism. “We want everyone to leave because we don’t want to see any more bloody conflicts , we will come back again if the government doesn’t respond (to calls for direct talks),” said Tang Sin-tung, a 16-year-old high school student. While some packed up and left, several hundred supporters stood their ground, shouting “Mong Kok, Mong Kok, never retreat,” watched by as many police. Many residents have criticized ineffective police handling of the recent unrest in Mong Kok, a traditional stronghold of Hong Kong’s notorious organized crime gangs, or Triads. Police have had to defend their tactics and denied allegations of any collaboration between the security forces and gang members - some of whom were arrested after altercations with protesters.

Portuguese teachers protest austerity cuts

everal hundred Portuguese schoolteachers demonstrated yesterday in Lisbon to protest the government’s education policies, especially spending cuts. Seven teachers’ unions organized the march, attracting protesters from across the country. Among the issues angering unions are evaluation tests for seasoned teachers, a lack of investment in specialized training, cuts to school budgets and layers of additional bureaucratic

responsibilities being added to teachers’ workloads. The protesters are also upset over the forced closures of schools with few students. Portugal’s center-right government has cut funds for public education and trimmed teachers’ pay in recent years as part of an austerity prog ram. The measures were among those enacted in return for Portugal’s three-year, 78 billion euro ($101 billion) international bailout.

Thousand of supporters of the anti-gay marriage, La Manif Pour Tous

Thousands march for ‘family values’ in France

ens of thousands took to the streets in Paris and Bordeaux yesterday to demonstrate for what protesters called “traditional family values” and against assisted pregnancies and surrogacy. The demonstrations were organised by the “Manif pour Tous” (“Protest for Everyone”) group that waged an ultimately unsuccessful grassroots movement against the adoption of same-sex marriage in France last year. Their target this time is medically assisted procreation techniques for lesbian couples, and surrogacy, which must be “fought at all costs,” according to the group’s president Ludovine de la Rochere. The group estimated that 500,000 people took part in the demonstration. There was no immediate confirmation from

authorities. In Bordeaux, police said 7,500 people turned out for the march. The Paris march began under grey skies and cool conditions under the watchful eye of some 1,000 police. Previous marches have seen isolated acts of violence and arrests. Seeking to calm passions ahead of the rally, Prime Minister Manuel Valls stressed that surrogacy “is and will remain banned in France”. But this did not seem to pacify the marchers who carried banners reading: “No to surrogate mothers” and “A woman is not a baby-machine”. One pensioner told AFP: “The next stage will be to put children on shop shelves and we will choose the ones we like.” Surrogacy is a form of “industrialisation” and “modern slavery,” judged another protester, 30-year-old Thibault. Manif pour Tous mounted a vig-

orous campaign against samesex marriage -- at one point claiming to have brought 1.4 million on the streets of Paris. But President Francois Hollande defied the protests and in April last year France became the 14th country worldwide to legalise same-sex marriage. An Ifop poll for the Atlantico website yesterday showed that less than a third (31 percent) of French people were behind the values of the demonstration. And the “All Out” gay rights organisation has called for a counter-demonstration “for equality of all couples and families”. An Internet petition it launched attracted more than 200,000 signatures as at yesterday. However its counter-demonstration drew only a few hundred people under the rain in a central Paris square, Place de la Republique.

Israeli leader: White House criticism un-American

srael’s prime minister dismissed a recent White House rebuke of Israeli settlement construction, saying in comments broadcast yesterday that the criticism goes “against American values.” The tough words by Prime Minister Benjamin Netanyahu threatened to deepen a rift with the White House over Israeli construction in the West Bank and east Jerusalem, areas captured by Israel in the 1967 Mideast war and claimed by the Palestinians as parts of a future independent state. Israel came under fire last week after a Jerusalem

city official signed the final go-ahead for construction of a new housing development in east Jerusalem. A day earlier, an ultranationalist Jewish group said dozens of settlers would move into six apartment buildings purchased in the heart of a predominantly Arab neighborhood of east Jerusalem. Israel says east Jerusalem is part of its capital and considers Jewish housing developments there to be neighborhoods of the city. But the international community, including the United States, does not recognize Israel’s annexation of the area and

considers construction there to be illegitimate settlement activity. In a striking public rebuke last week, the Obama administration warned Israel that the new project would distance Israel from “even its closest allies” and raise questions about its commitment to seeking peace with Palestinians. In an interview broadcast Sunday on CBS’s “Face the Nation,” Netanyahu said he does not accept restrictions on where Jews could live, and said that Jerusalem’s Arabs and Jews should be able to buy homes wherever they want.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

EURO Football

Tennis

Sports News

Djokovic, Sharapova capture China Open titles

Wenger loses cool as Blues silence Gunners

Ameobi, Ogbeche on song again

Sport

Did you know? That American twin Bob and Mike Bryan were the first doubles pair to win 100 titles together by winning the 2014 US Open men’s doubles

Hand Keshi new deal or forget AFCON –Iroha

Ifeanyi Ibeh

ormer Nigeria international, Ben Iroha, has called on the new board of the Nigeria Football Federation to, ‘as a matter of urgency,’ hand Stephen Keshi a new deal if the body wants the Super Eagles to defend their Africa Cup of Nations title in Morocco. The Super Eagles risk missing next year’s AFCON in Mo-

rocco after picking just a point from their opening two games of the qualifying campaign. In September, the Eagles lost 3-2 at home to Congo before playing out a goalless away draw against South Africa. Up next are away and home fixtures against Sudan, games which the Super Eagles must win in order to revive their chances of beating either group leaders Congo or second placed South Africa to one of Group

He (Keshi) is human and I don’t think he is happy about all that has been happening

A’s two automatic tickets to Morocco 2015. Iroha, who played alongside Keshi in the Super Eagles, believes his former teammate needs to be properly motivated to get the required results against Sudan. And one ‘sure way’ of doing that, according to the 1994 AFCON winner, is for the Amaju Pinnick-led NFF board to hand Keshi a new deal. “I don’t think he (Keshi) is

really motivated,” said Iroha. “Here is someone who led the team to the Nations Cup title in South Africa and to the last 16 at the World Cup in Brazil, and was expecting a new deal which up till now has not materialised. “He (Keshi) is human and I don’t think he is happy about all that has been happening. And when you are not happy, it can be very difficult to motivate yourself even when you plan on giving your best.

Keshi gambling with Eagles –Ex international after picking up just a point from their opening two Group A games against Congo and South Africa. And Abarowei feels there couldn’t have been a worse time for Keshi to hand first-time call-ups to the national team to ‘a bunch of unknown players.’ “Other than Akpan, I don’t even know where the other players are coming from or

Ifeanyi Ibeh

ormer Nigeria international, Stephen Abarowei, has said Stephen Keshi is gambling with Nigeria’s chances of qualifying for next year’s Africa Cup of Nations after leaving out some of the country’s in-form players and handing callups to a number of unheralded players ahead of this month’s crucial AFCON qualifiers against Sudan. Keshi handed first-time callups to Reading midfielder, Hope Akpan, China-based Aaron Samuel, Norway-based Anyora Ugonna and Sunday Emmanuel, who recently moved to Austria after spending the previous three seasons in Vietnam, while leaving out Seattle Sounders’ Obafemi Martins and Villarreal’s Ikechukwu Uche, who have both been ‘on fire’ for their respective clubs. The Super Eagles need to win the upcoming games against Sudan in Khartoum and Abuja, on October 11 and 15 respectively, in order to revive their chances of qualifying for next year’s AFCON

The Sport Team

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

Ifeanyi Ibeh l Sports Correspondent

Ajibade Olusesan l Sports Correspondent

Charles Ogundiya l Sports Correspondent

I don’t know how much research he has put into scouting these players because this is our national team we are talking about not just any club side.

what they have done to merit a call-up to the Super Eagles when players like Martins and IK Uche, who have both been on fire, have been left out,” said Abarowei, who manages the Lagos-based Abarowei Football Academy. “I don’t know how much research he has put into scouting these players be-

cause this is our national team we are talking about not just any club side. “I agree he (Keshi) is the coach and should be the one to decide who gets called up and who doesn’t, but only the best should be in the Super Eagles. Martins, IK Uche and some guys I have seen in the Nigerian League deserve to

Emenike (right) and Mikel. Inset: Keshi

be called up and not any Tom, Dick and Harry looking to use the national team to elevate their careers,” said Abarowei, who went down memory lane, recalling his time in the Super Eagles under Clemens Westerhof. The Dutch, who was in charge of the Super Eagles from 1989 to 1994, handed Abarowei his first call-up to the Super Eagles in 1990, prior to that year’s AFCON, which took place in Algeria. “Westerhof was never sentimental when it came to the selection of players,” continued Abarowei. “He only went for the best for each match and that was why it was difficult for me to break into the team because there were other players better than me, which was why I couldn’t make the final team to Algiers ‘90 despite the fondness he had for me. “He didn’t care if he had issues with a player; all he cared about was the result and that was why he called Chidi Nwanu and Peter Rufai to the Super Eagles at a time when both had issues with Keshi,” said the former ACB of Lagos star, recalling the highly publicised feud between Keshi and his Super Eagles teammates. “Keshi should set his personal grievances with Ik Uche and Martins aside and stop gambling with our chances before people begin to forget all the good things he has done. You know fans have very short memories,” added Abarowei.

SPORT

MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

Djokovic, Sharapova capture China Open titles

op-ranked Novak Djokovic won his fifth China Open title in what he called the most dominant final of his career, routing thirdseeded Tomas Berdych 6-0, 6-2 on Sunday in a little over an hour. Djokovic was one point away from handing Berdych a “double bagel” — a 6-0, 6-0 defeat — but the Czech player fought off match point, then broke Djokovic to win his first game. He raised both arms in celebration and smiled with relief as the crowd roared. The Serb sealed the victory two games later to im-

prove his sparkling record at the China Open to 24-0. “I met somebody in the final who I’ve never seen before,” Berdych said. “I was just swept out from the court.” On the women’s side, Maria Sharapova outlasted Petra Kvitova 6-4, 2-6, 6-3 in a hard-hitting, back-and-forth duel to win the title and return to No. 2 in the rankings. Djokovic said he woke up Sunday with a good feeling, and that continued when he stepped on court and broke Berdych in the first game. “Everything felt right,” he said. “I stepped on the court with this positive mindset.

Obviously, I felt it from the start.” Similarly, Sharapova overcame 10 double-faults and a number of untimely errors to defeat Kvitova in a rematch of their 2011 Wimbledon final, won by the Czech left-hander. The Russian had leads of 3-0 and 4-2 in the third set, but made consecutive errors in the seventh game to give Kvitova break point to get back on serve. She saved it with a hard, deep shot to the corner that Kvitova dumped in the net, then tracked down a short ball and hit a sharply angled backhand winner to make it 5-2.

Moses doubtful for Sudan games Emmanuel Tobi

uper Eagles returnee, Victor Moses, is a major doubt for Nigeria double header cracker against Sudan billed for October 11 and 15. Moses pulled up injured in Stoke’s 1-3 defeat to Sunderland in the Barclays English Premier League on Saturday. He had provided the assist for Stoke’s solitary goal at the Stadium of Light, dispatched by Charlie Adam, before he was forced off with the injury. The former Wigan winger however rued his club’s defeat while hop-

Charles Ogundiya Ibadan

rown Football Club and Enyimba Football Club on Sunday played out a goalless draw in Week 30 fixture in Ibadan but the encounter was almost marred by crowd trouble. If not for the intervention of police, the centre referee would have been physically injured by the fans of the home team who were protesting the poor performance of the officials. The fans believed that there were questionable calls made by the referee including two penalties claim by the home team which he waved off. They tried to vent their anger on the officials shortly after the final whistle, they had even started hurling stones and other objects at them before the security officials escorted them out of the stadium.

AWC : CAF snubs Nigerian referees

ing to bounce back soon. “Disappointed to lose today the lads gave everything, hopefully I’ll be back fully fit very soon,” Moses said on twitter. Meanwhile, Stoke City manager, Mark Hughes says the extent of Moses’ injury is not yet clear. “Victor had a bit of tightness after the Newcastle game (on Monday). “But he felt discomfort and we weren’t going to take a risk. We are hoping it’s nothing serious, but given nothing showed on the scan we’ve got to get to the bottom of what’s causMoses ing it,” he said.

Violence averted in Ibadan as Enyimba draw Crown The two teams created few chances in a match that was so dull. Although Enyimba looked more lively of the two sides they were lucky not to have conceded at least one penalty. In other matches, defending champions Kano Pillars remain atop the table desite losing 1-0 to Heartland in Owerri. Taraba beat Warri Wolves 3-1, while Bayelsa also secured 2-0 win over Sunshine. Enugu Rangers got a point away from home as their fixture with Akwa United ended in a goalless draw.

NPFL RESULTS Abia Warriors 2 – 1 Dolphin Akwa 0 – 0 Rangers Bayelsa 2 – 0 Sunshine Crown 0 – 0 Enyimba Gombe 0 – 0 El Kanemi Heartland 1 – 0 Kano Lobi Stars 2 – 1 Giwa Nasarawa 3 – 1 Kaduna Sharks 3 – 0 Nembe Taraba 3 – 1 Warri

Djokovic

Emmanuel Tobi

he Confederation of African football has again neglected Nigerian referees as match officials selected for the 9th African Women Championship Namibia 2014 gathered in Windhoek for a pre-tournament course to prepare for the championship. No Nigerian is among the Twenty-seven (27) match officials made up of 12 Referees and 15 Assistant Referees who will officiate at the tournament, where the top three finishers will qualify to represent the continent at the 2015 FIFA World Cup in Canada. The match officials are taking part in a Pre-Tournament course scheduled from October 2-10 to test their readiness for the eight-team tournament.

The course, the first of its kind as far as the flagship women’s championship is concerned, is intended to put the Referees and Assistant Referees in top shape for the championship that will last from October 11-25 in the Namibian capital, Windhoek. The eight days are dominated by practical sessions that will include fitness test and medicals as well as theoretical sessions. Hosts Namibia, Cote d’Ivoire, Nigeria and Zambia are in Group A, whilst Algeria, Cameroon, Ghana and South Africa are in Group B. The opening match will take place on Saturday, October 11 between Namibia and Zambia at the Sam Nujoma Stadium in Windhoek.

Abuja SWAN mourns Remi Oyo

he Sport Writers Associations of Nigeria SWAN FCT chapter has expressed shock and sadness at the news of the untimely death of former Managing Director News Agency of Nigeria, Mrs. Felicia Oluwaremilekun Oyo. According to a statement made public by assistant secretary, Bunmi Haruna, in Abuja, SWAN FCT chapter described the deceased as a woman who despite a rather short stay on earth left her mark on the sands

of time. It would be recalled that the late Oyo was reported to have died in a London Hospital on October 1. “To this end, we would like to express our heartfelt condolences to the Oyo family, friends, relatives as well as to NAN. “We can never forget your numerous good deeds aimed at developing sports in NAN, which include building of a mini fitness centre for staff and instituting table tennis competitions.”

Argentina, Portugal set up Messi-Ronaldo clash

a Liga rivals Lionel Messi and Cristiano Ronaldo look set to meet in an Argentina-Portugal friendly at the Old Trafford next month, in a match which could also mark Carlos Tevez’s international return. The teams would meet in Manchester on the FIFA-designated international date of November 18, the Argentine FA has confirmed on its website (www.afa.org.ar). It would be a second return to Old Trafford for former Manchester United winger Ronaldo since he left for Real Madrid in 2009. He was back there in March last year for a Champions league second

round tie in which he scored the winner and United fans and manager Louis van Gaal have said they would one day like to see him make a permanent return.

Messi

Wenger loses cool as Blues silence Gunners

rsenal manager Arsene Wenger shoved Jose Mourinho as their longrunning feud turned physical in a 2-0 win which saw Chelsea take a five-point lead at the top of the Premier League. Wenger refused to take a backwards step in the 20th minute after leaving his technical area following Gary Cahill’s tackle from behind on Alexis Sanchez. Mourinho told the Frenchman to “back off ” as their rivalry endured another ugly episode, with the Gunners boss firmly planting two hands on the Portuguese’s chest - risking Football Association disciplinary action - and the pair also eye-balling each other in close quarters. Cesc Fabregas might have conceded a penalty for handball before the former Arsenal captain played a beautifully flighted pass to allow Diego Costa to net his ninth Premier League goal of the season. Asked afterwards if the victory had been sweeter given the negativity aimed towards him by some Arsenal supporters, the Spain international told Sky Sports 1: “Not at all. I have huge respect for Arsenal - they gave me everything when I was little. Without them I wouldn’t be here and I wouldn’t have won what I have won. “I have huge respect and I take it in a positive way. I know they love me and it is all because we

were together once. Sometimes, circumstances mean these things can happen. But I have always said it - I am not scared. They will always be in my heart forever. “But this is football, I am in this fantastic football club now playing with great players, a great coach and great fans and I want to win everything. “I am hungry and really want to do well for this club. I hope I can make it in the future.”

First United goal a relief, says Falcao

adamel Falcao has conceded that he is relieved to have scored his first goal in a Manchester United shirt. The Colombian international, who joined the Red Devils on a season-long loan deal in August from Monaco failed to find the net in his opening three Premier League matches. However, he scored this afternoon at Old Trafford against Everton, which sealed a 2-1 victory for the home side. “All strikers need goals, and for me there was a little bit of relief to score my first goal. I hope to score many in the future,” he told MUTV.

Robben hails unstoppable Bayern

ayern Munich winger Arjen Robben has admitted that his side was ‘unstoppable’ during Saturday’s 4-0 win over Hannover. The Bundesliga champions continued their unbeaten start to the season thanks to an emphatic victory at the Allianz Arena. Robben found the net twice for Bayern, while summer signing Robert Lewandowski also grabbed himself a brace. “Hannover only wanted to defend, but they could not stop us,” the Dutchman is quoted as saying by Sky Sports News. “It’s nice to score four goals in front of our own fans, but we could have scored more too.” The result has seen Bayern open up a four-point lead at the top of the table after seven matches.

Wenger (left) shoving Mourinho during Sunday’s encounter at Stamford Bridge

Hughes puzzled by Moses ‘mystery’ injury

toke City manager Mark Hughes is eager to get to the root of Victor Moses’ mystery thigh injury. Moses, who is on loan at the Britannia Stadium from Chelsea until the end of the season, appeared to have overcome muscle tightness to take his place in Saturday’s XI to face Sunderland. The 23-year-old forward re-

turned to training after receiving the all-clear from a scan, but left the action after just 18 minutes at the Stadium of Light before Stoke went down to a 3-1 loss. Hughes said: “Victor had a little bit of tightness after the Newcastle game. Nothing showed on the scan so he trained on Thursday and Friday and said he was good to go.

“Obviously, almost immediately he felt discomfort and we weren’t going to take any risks with him so we made the change. “We’re hopeful it’s not too serious. “Given nothing showed up on the scan, we’ve got to get to the bottom of it and see what’s causing the pain that he’s obviously feeling.”

Goal scoring not my job –Toure

Toure

aya Toure has insisted that scoring goals is not his job for Manchester City in the Premier League. The Ivorian, who scored his first goal of the season during the

SPORT | EURO FOOTBALL

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

team’s 2-0 win over Aston Villa on Saturday, told CityTV: “For me, the most important thing is to try to keep winning. “Sometimes people forget I’m a midfielder and that my job is not to score all the goals. My job is to try to keep the team playing well, make a good pass, and if I am fortunate enough to score, that is fantastic. “Last year was quite open for me. I played in a good position and I was quite lucky, I was getting free-kicks. Now the criticism has started coming because I am not scoring. For me, not scoring is pretty normal because I play in midfield. “I have been playing for big sides in Europe for a long time. I know there is criticism, but for me, it doesn’t matter. If they want they can continue, it doesn’t matter. For me, the most important thing at the end of the day is if we win the Premier League or something else.”

anchester United winger Angel di Maria and manager Louis van Gaal have praised David de Gea for his match-winning performance during Sunday’s victory over Everton. The Spaniard saved a Leighton Baines penalty in the first half before making a string of fine stops late on as United triumphed 2-1 at Old Trafford. Di Maria was named man of the match after scoring his third goal of the season for the Red Devils, but the Argentine believes that De Gea should be given the plaudits. “I think David is the guy who deserves [the man of the match award] rather than myself,” he told BT Sport. “He saved us throughout the game and particularly towards the end and the penalty as well.” Manchester United manager, van Gaal, also praised

“It was amazing that my first goal was at Old Trafford, I enjoyed it with all the fans and I want to say thank you to God, my teammates, all the staff and the coaches.”

RESULTS Premier League Man United 2 – 1 Everton Chelsea 2 – 0 Arsenal Tottenham 1 – 0 Southampton Liverpool 2 – 1 West Brom Aston Villa 0 – 2 Man City West Ham 2 – 0 QPR Hull City 2 – 0 Crystal Palace Leicester City 2 – 2 Burnley Sunderland 3 – 1 Stoke City Swansea City 2 – 2 Newcastle

Serie A Juventus 3 – 2 AS Roma AC Milan 2 – 0 Chievo Empoli 3 – 0 Palermo Lazio 3 – 2 Sassuolo Parma 1 – 2 Genoa Sampdoria 1 – 0 Atalanta

La Liga Sevilla 4 – 1 La Coruna Celta Vigo 1 – 3 Villarreal Rayo 0 – 2 Barcelona Valencia 3 – 1 Atletico Madrid Eibar 3 – 3 Levante Almeria 2

– 2 Elche

Malaga 2 – 1 Granada Bundesliga Bayern 4 – 0 Hannover 96 Moses (left)

Di Maria, van Gaal commend De Gea

Falcao

the goalkeeper’s contribution in his side’s victory against Everton. Van Gaal told reporters after the game: “Everton got chances outside the box and they had good shots, but David De Gea was fantastic. “It was not easy for him because he had a lot of players in front of his view. Despite that he stopped good and speedy shots. I was very pleased with his performance.”

Dortmund 0 – 1 Hamburg Wolfsburg 1 – 0 Augsburg ‘Gladbach 1 – 1 Mainz Leverkusen 2 – 2 Paderborn Hoffenheim 2 – 1 Schalke Werder Bremen 1 – 1 Freiburg Frankfurt 3 - 2 FC Cologne ENGLISH PREMIER LEAGUE Team P GD Pts 1 Chelsea 7 14 19 2 Man City

3 Southampton

4 Man United 5 Swansea City

7 7

3 2

6 Tottenham

7 West Ham

8 Arsenal

9 Liverpool

10 Aston Villa

-5

11 Hull City

12 Leicester

-1

13 Sunderland

14 West Brom

-1

15 Crystal P.

-2

16 Stoke City

-2

17 Everton 18 Newcastle

7 7

-3 -7

19 Burnley

20 QPR

14 13 11

11 11 10 10 10 10 9 9 8 8 8 8 6

4 -7 4 -11 4

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MONDAY, OCTOBER 6, 2014 NEW TELEGRAPH

EAGLES EURO ROUND-UP Emenike benched, Ameobi, Ogbeche on song again Ideye missing Stories: Ajibade Olusesan E

mmanuel Emenike was benched for the first time by Fernabahce this season as they secured a 2-1 win over visiting Konyaspor on Saturday in the Turkish league. The Nigerian has endured a poor start to the season despite scoring on the opening day and he appears to be losing his place in the starting line as he played no part in the team’s win at the weekend. Brown Ideye failed to pass a late fitness test ahead of the West Brom’s trip to Liverpool. He has been injured for about three weeks now and there were suggestions that he may return for the Baggies last weekend but he was not even listed for the match that ended 2-1 in favour of the Kops. However, it was a weekend to forget for Super Eagles goalkeeper, Vincent Enyeama, as he conceded three goals in Lille 3-0 loss at Lyon on Sunday. Meanwhile, Kenneth Omeruo returned for Middlebrough in their 2-0 win over Fulham. He missed Boro’s previous match against Blackpool due to a knock he suffered in their penultimate game and he managed to see out the Fulham match.

Emenike

igerian players outside the mainstream of the Super Eagles are continuing to dominate headlines with their goals for their clubs abroad as a couple of them were on target last weekend. Cambur of Netherlands striker, Batholomew Ogbeche, hits a brace in the club’s 4-1 win over Dordrechet on Saturday. Ogbeche who was also on target last week scored in the 6th and 56 minutes to take his tally to five in eight g ames and become a joint top striker in the

Dutch Eredivisie. Similarly, Shola Ameobi continued his scoring for m for his Turkish side, Gaziante p, as he fired two goals in his club’s 2-2 home draw with Sanica Bor u Elazigspor. The for mer Newcastle player has now scored three goals for h i s T u rk i s h s e c o n d d iv i s i o n club. Also in Turkey, John Chibuike scored Gaziantespor first goal in a 4-2 loss at Kasimpasa in the 71st minute, exactly 10 minutes after he was introduced into the game as a substitute for Mustapha Durak.

Moses, Onazi, Oboabona get assists

lthough Super Eagles players, Victor Moses, Ogenyi Onazi and Godfey Oboabona did not score for their clubs in Europe, the trio gave the assists that led to some of the goals scored by their respective sides over the weekend. Moses who had two goal assists for Stoke City produced another one in their 3-1 loss to Sunderland on Saturday when he gave Charlie Adam the pass that resulted in Stoke’s equaliser after they had gone down to Connor Wickham’s 4th minute goal.

However, injury forced him to withdraw from the game shortly after and Stoke capitulated afterwards. Onazi was one of the stand-out perfor mers for Lazio as they beat Sassoulo 3-2 at home. The player assisted Filip Djordjevic to score Lazio’s second goal of the game. The Eagles midfielder has now played three times for his Italian side this season. Similarly, Godfrey Oboabona was in good for m over the weekend as he helped his Turkish side, Rizespor to 2-1 win

over Raheem Lawal’s Eskisehirspor. He put through Murat Duruer for Rizespor’s opener in the game. He played for 90 minutes while his Super Eagles teammate, Lawal was pulled out in the 72nd minute. Mikel Obi also got more playing time for Chelsea as the Blues continued their unbeaten run with a 2-0 win over Arsenal in London derby on Sunday. The Nigeria who is yet to start for Chelsea in the Premier League this season was introduced in the 69th minute and he gave a good account of himself.

Van Gaal targets Champions League spot lAs Falcao eyes permanent move

Falcao

oius Van Gaal is very confident of taking Manchester United back into Europe’s elite competition. Since becoming Manchester United manager, the Dutchman has found things tougher, although he still managed to talk his superiors into spending over £100 million this summer. And his situation at Old Trafford isn’t fazing him. As United slowly gather more and more momentum, Van Gaal is adamant he will take them back to the Champions League eventually. “I didn’t have to come

here to Manchester United,” he told reporters. “They asked me. And I will take United back into the Champions League yes but not at once. “There is a trajectory and a process of three years. I have signed a three-year contract. Believe me, I shall finish that. “At the time I was coming to the club, big leaders were leaving - [Patrice] Evra, [Nemanja] Vidic, [Rio] Ferdinand. They were big leaders. “Also, leadership is a process - you don’t go from one day to the next and become a leader. “It’s a process and now a lot of players are in that process.” Man United now have a break from

Van Gaal

Premier League action due to the upcoming international matches and Euro 2016 qualifiers. Meanwhile, Radamel Falcao wants to make his loan move from AS Monaco to Manchester United permanent. The good news just keep coming for Manchester United fans. The Red Devils won their second successive Premier League game on Sunday when they got the better of Everton 2-1 at Old Trafford. It was not an easy win for Louis van Gaal’s side, but eventually they picked up the three points. It was star striker Radamel Falcao who scored the winner, slotting home an apparent Angel di Maria mis-hit shot from close range in the 62nd minute. It was the Colombia international’s first goal for United since joining from AS Monaco in the summer transfer window. The 28-year-old moved to the Manchester outfit on transfer deadline day on a seasonlong loan deal. United have the option to sign Falcao on a permanent contract next summer, and it seems that the former Atletico Madrid man wants to remain at the Premier League giants for years. ‘Me and my family are happy here, and we would like to stay for many years at Manchester United’, he told MUTV. Falcao’s comments will certainly come as good news to the United fans. The former Porto star is one of the best strikers in the world, and him staying in Manchester for ‘many years’ is only going to be great for the club.

NEW TELEGRAPH MONDAY, OCTOBER 6, 2014

Sanctity of Truth

On Marble

Your visions will become clear only when you can look into your own heart. Who looks outside, dreams; who looks inside, awakes. – C.G. Jung

World Record

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First Man in Space. On 12 April 1961, Russian cosmonaut Yuri Gagarin became the first human to travel into space when he launched into orbit on the Vostok 3KA-3 spacecraft (Vostok 1).

Boosting shared prosperity (1) GUEST COLUMNIST Jim Yong Kim

ver the last two years, I have led an effort at the World Bank Group to reorganize the institution to accomplish our twin goals: end extreme poverty by 2030; and boost shared prosperity among the poorest 40 per cent in developing countries. The first goal is ambitious, and it reflects the tremendous progress we’ve made over the last quarter century in the fight against poverty. In 1990, 36 percent of the world’s population, or 1.9 billion people, earned less than $1.25 a day. By next year, our economists estimate that that rate will have declined to 12 percent – a two-thirds reduction in 25 years. This means that, by next year, one billion fewer people will be living in extreme poverty than in 1990. That’s major progress. However, helping the next billion escape poverty will be far more difficult. We have much work to do, especially in sub-Saharan Africa, where an estimated 450 million people wake up in poverty each day. The second goal – boosting shared prosperity – is what I want to talk with you about today. We are working to ensure that the growth of the global economy will improve the lives of all members of society, not only a fortunate few. To accomplish this, the World Bank Group aims to achieve specific income-related and social goals: We want to raise the income of the lowest 40 percent of earners in developing countries, and improve their access to life’s essentials, including food, shelter, health care, education and jobs. Let me put this in perspective: For the first time in the history of the World Bank Group, we have set a goal that aims to reduce global inequality. As the spread of the Ebola virus in West Africa shows, the importance of this objective could not be clearer. The battle against the virus is a fight on many fronts – human lives and health foremost among them. But it is also a fight against inequality. The knowledge and infrastructure to treat the sick and contain the virus exists in high and middle income counties. However, over many years, we have failed to make these things accessible to low-income people in Guinea, Liberia and Sierra Leone. So now, thousands of people in these countries are dying because, in the lottery of birth, they were born in the wrong place. If we do not stop Ebola now, the infection will continue to spread to other countries and even continents – just yesterday the Centers for Disease Control confirmed the first case of Ebola in the United States. This pandemic shows the deadly cost of unequal access to basic services and the consequences of our failure to fix this problem.

As I will discuss later in my remarks, the World Bank Group and others have begun to take steps to get resources into the right place. Our actions have arisen directly from our decision to make boosting shared prosperity part of the Bank’s primary mission. When a visitor enters our Pennsylvania Avenue headquarters, one of the first things she sees is an inscription on the wall that reads as follows: “Our dream is a world free of poverty.” While achieving this goal through development is a complex undertaking, two things are essential. First, we must help low-income countries grow their economies. In the last four years alone, high rates of growth in China and India have meant that 232 million people no longer live in poverty. Second, low-income people who live in low-income countries must share in the gains from that growth. Shared prosperity is part of the Bank’s headline goals simply because it is required to end poverty. Boosting shared prosperity is also important in the pursuit of justice. Oxfam International, the poverty fighting organization, recently reported that the world’s richest 85 people have as much combined wealth as the poorest 3.6 billion. Think about that: A group far smaller than the number of people in this room possesses more wealth than half the world’s population. With so many people in sub-Saharan Africa, as well as Asia, and Latin America, living in extreme poverty, this state of affairs is a stain on our collective conscience. Protecting an individual’s ability to reap financial reward for hard work and success is extremely important. It creates motivation; it drives innovation; and it permits people to help others. At the same time, what does it mean that so much of the world’s enormous wealth has accrued to so few? As an economic system, global market capitalism has produced af-

For the first time in the history of the World Bank Group, we have set a goal that aims to reduce global inequality

Jim Yong Kim

fluence and innovation. These are very good things. However, an economic system’s legitimacy is also tied to its ability to make two things accessible to all: the riches it generates and the social benefits that arise from that wealth. Unfortunately, national income gains from growth tend not to be shared among a population in anything close to equal measure. In his 2014 best seller Capital in the Twenty-First Century, French economist Thomas Piketty showed that, in developed economies, these gains generally flow at substantially higher rates to owners than to workers. Ultimately, we want to ensure the global economic system’s gains are distributed in a fashion that creates opportunity and respects human dignity. So what does it look like to boost shared prosperity? As I explained earlier, one important metric is the relative income level of the poorest 40 percent of a national population. During the 2000s, these earners enjoyed more rapid income growth rates than the general population in 52 out of 78 low-income countries. But our mixed progress in achieving the United Nations’ Millennium Development Goals shows that the general well-being of households in the bottom 40 percent remains much lower than in higherincome households. In other words, even though their incomes grew faster, low-income households did not reap the same social benefits as the more affluent, including access to food, clean water and sanitation. Fundamentally, increasing individual incomes, while important, is only part of the equation for boosting shared prosperity. We also need economic growth to deliver benefits that create more just societies. So, in addition to changes in income, boosting shared prosperity focuses on improving gender equity and low income people’s access to food, shelter, clean water, sanitation health care, education and jobs. How can the World Bank Group do this? One essential mechanism is

our more than $60 billion dollar annual portfolio of financial support to build public institutions and to catalyze a vibrant private sector. By creating knowledge-based global practice groups, our reorganization has developed another critical tool – something we’ve been calling the science of delivery. In order to solve the world’s most difficult development problems, we must ask ourselves two questions. The first is whether the solution is equal to the challenge. In other words, do we understand the problem and does our answer solve it? The second is whether someone, either in or outside the Bank, has found ways to deliver the solution. If so, can we capture it, apply it, and scale it up in other contexts? Our global practices are focused on answering these critical questions. Boosting shared prosperity is the World Bank Group’s way of tackling the challenge of inequality. Identifying ways to deliver the solution requires at least two steps. First, we need to improve our understanding of how economic growth at the national level has an impact on the development of individual households. So we need to collect better and more precise data from low-income countries. Second, when we provide projectbased financial and technical assistance, we must continue to evaluate these initiatives’ impact on low-income people’s earnings. Take building roads. In Bangladesh, we helped build and fix three thousand kilometers of roads. Then we studied whether these improvements made a difference. We found that in just six years’ time, the average household income in the areas of these projects grew 74 percent. This was largely because the roads connected communities to markets. We also looked at areas that had not received these upgrades. There, average household incomes declined 23 percent. These kinds of assessments show what does and doesn’t work when it comes to boosting shared prosperity. Our experience tells us that four strategies are also integral to accomplishing this goal: building human capital; constructing well-designed and implemented social safety nets; offering incentives for the private sector to create good jobs; and implementing fiscally and environmentally sustainable policies to pursue these ends. Projects that share these attributes will receive priority access to the Bank’s financial and technical assistance. The science of delivery has also helped guide our response to the Ebola epidemic. The virus is spreading out of control in Guinea, Liberia and Sierra Leone. Thousands of people are dead. Likely well over ten thousand people have become infected. And both of these numbers are climbing rapidly. As a consequence, our ability to boost shared prosperity in West Africa – and potentially the entire continent – may be quickly disappearing. •Jim Yong Kim is World Bank Group President

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