Binder1999 wednesday, march 19, 2014 by Newtelegraphonline

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Wednesday, March 19, 2014 Vol. 1 No. 29

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Sanusi overstepped his bounds –Deputy Ayodele Aminu with agency report

he suspended whistleblower governor of the Central Bank

of Nigeria (CBN), Sanusi Lamido Sanusi, may have to think again if he hopes senior former colleagues will rally to his defence.

Sanusi was suspended last month by President Goodluck Jonathan after making explosive allegations about embezzlement on a massive scale

at the Nigerian National Petroleum Corporation (NNPC). The events, according to The Independent of the United Kingdom, alarmed

investors and created a sense of scandal around the presidency of Jonathan. The president suspended Sanusi, citing “fi-

Immigration test tragedy: Reps summon minister, Parradang Page } 3

CONTINUED ON PAGE 2

Petrol to hit N140 as govt plans total subsidy removal SUBSIDY

Adeola Yusuf

Minister of Petroleum Resources said that the government can no longer sustain subsidy on PMS

ubsidy on Premium Motor Spirit (PMS) will soon be removed by the Federal Government.

With the removal, a litre of petrol will be sold for N140. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who gave this hint at the Nige-

rian Oil and Gas (NOG) Conference in Abuja, stated categorically that the government could no longer sustain the subsidy on petrol. The fuel ex-depot price

of the commodity, without subsidy, is between N131 and 140 per litre. Nigeria, Africa’s biggest crude exporter, which depends largely on importation of refined products

to meet the 40 million litres daily fuel consumption due to insufficient refined capacity, has been spending millions of dollars on subsidy quarterly. CONTINUED ON PAGE 2

Foreign Journalists visit New Telegraph

L-R: Deputy Editor, Daily, New Telegraph, Emeka Obasi; Business Correspondent, TIME, Leo Cerdrowicz; Columnist, Forbes Online, Doug Bandow; President, Amsterdam Group Public Relation Inc., Sam Amsterdam; Daily Editor, New Telegraph, Gabriel Akinadewo; Managing Director/Editor-in-Chief, Bolaji Tunji; Contributing Editor, Alain Charles Publishing, Stephen Williams; Prince Kunle Oyewumi; Deputy Editor, Sport, New Telegraph, Adekunle Salami; Editor, Sunday, Emeka Madunagu and Editor, Saturday, Laurence Ani, during a courtesy visit by foreign correspondents to the Corporate Head Office of New Telegraph, Ikeja, Lagos...at the weekend. PHOTO: SULEIMAN HUSAINI

Confab adjourns amidst controversy over religion, ethnic agenda CONTROVERSY lConference adjourns to Monday lDelegates to earn equal allowances Attempts to place one religion over other causes row at the National Conference

INSIDE

News. . . . . . . . . . . . . . Metro . . . . . . . . . . . . . Politics . . . . . . . . . . . . Opinions. . . . . . . . . . . Arts. . . . . . . . . . . . . . . Education . . . . . . . . . . Business . . . . . . . . . . . Sport. . . . . . . . . . . . . .

2 11 13 20 18 21 31 51

lCourt strikes out ex-parte application seeking to stop confab Louis Achi, Onwuka Nzechi and Tunde Oyesina

Lagos

Partially cloudy O O

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espite President Goodluck Jonathan’s war ning

NEWS Six die in Benue Cement Plant protest Page 6

against the pursuit of any divisive agenda at the National Confer-

ence, ethnic, regional and religious cleavages may become stumbling

AT A GLANCE

blocks to smooth proceedings at the conference as some delegates yesterday openly kicked against attempts to place CONTINUED ON PAGE 4

POLITICS

BUSINESS

SPORT

Senate will subject confab report to legislative process, says Ndoma-Egba Page 14-15

FG to develop six new ports in Ondo, Ogun, Akwa Ibom, Delta, Bayelsa and Lagos. Page 36

Brazil: Nigeria, Cameroon are Africa’s Hope –Song Page 51

NEWS

Sanctity of Truth

Wednesday, March 19, 2014

Sanusi’s deputy: He overstepped his bounds CONTINUED FROM PAGE 1

nancial recklessness and misconduct” at the CBN and ordered an investigation into him, but many in Nigeria suspect the governor’s fate was linked to the claims he had made on an allegedly missing $20 billion of oil revenue. Speaking for the first time about the affair, one of Sanusi’s deputies, Kingsley Moghalu, distanced himself from his former boss and alleged that Sanusi overstepped his authority. Discussing the Sanusi affair in the sidelines of the Africa CEO Forum in Geneva, he told The Independent: “The lesson that can be drawn from it is the limits of Central Bank independence... There is a very thin line between central bank independence and political posturing.” In support of President Jonathan’s government, he said: “The president of Nigeria and the government of Nigeria have never in my knowledge interfered with the function of the Central Bank. And therefore I think we need to give them credit

for respecting [its] independence.” He added: “The governor began to make very damaging public allegations against the government... allegations that have not been proven, after the president had sent him a presidential query about the finances of the Central Bank. The government has given a reason for the suspension and that was... to enable an investigation into the allegations against him.” Preferring not to mention Sanusi by name, he went on to say: “Somebody in the Central Bank was taking on an activist political role. That is not our function. Central

banks over the world have clear functions and in your country [Britain] and any other civilised country I know that Central Bank governors operate within certain expectations and constraints and respect those expectations and constraints.” He added that the CBN had managed to contain the market fallout from the president’s actions, pointing out that he and his fellow deputy governors were in agreement with Sanusi’s internationally well-regarded position as an inflation hawk in favour of high interest rates to keep a lid on prices. “Life is back to nor-

mal,” he claimed. However, with the ghost of an investigation looming large over the most powerful banker in the country, and the suspicion among many that he was suspended for speaking out, analysts say Nigeria is far from being in a normal state. Moghalu was named as a possible successor to Sanusi but the president selected a non-central banker, Godwin Emefiele, as the governor-elect. Observers said he would be far less outspoken than the high-born Sanusi, a well-connected Muslim and Islamic scholar from the North of the country whose father was

Emir of the ancient city of Kano. Moghalu, who took his Ph.D at the London School of Economics and is the son of a Nigerian diplomat to Washington DC, is one of three deputy governors of the CBN, said he had no plans to resign. He vehemently denied being under investigation himself, or being accused of any wrongdoing by the report into Sanusi. Sanusi earlier this week requested the President reverse his suspension, saying that every one of the allegations levelled against him and the Central Bank under his leadership were false.

34o 23o Thunder storm

ABUJA

39o 26o Mostly sunny

KANO

39o 16o Sunny

ENUGU

36o 24o Cloudy

IBADAN

35o 24o storm

CALABAR

33o 24o storm

MAIDUGURI

42o 22o Sunny

ONITSHA

35o 24o Very cloudy

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

TODAY’S WEATHER FORECAST PORT HARCOURT

FLIGHT SCHEDULE

L-R: Minister of Education, Nyesom Wike; Vice President Namadi Sambo and Executive Director, CNBC African, Bronwyn Nelsen during the 20th Nigerian Economic Summit at the Transcorp Hilton, Abuja…yesterday PHOTO: TIMOTHY IKUOMENISAN

Petrol to hit N140 as govt plans total subsidy removal CONTINUED FROM PAGE 1

The country has been facing incessant scarcity of the products, the last of which was partly blamed on the rumoured plan to hike product’s price. Addressing a delegation of stakeholders at the conference, Alison-Madueke said: “The major reforms of the downstream sector, as we have in the power sector, is underway. This is the next step. “Continuing regulation of this sector has negative implication like subsidy. This subsidy cannot be sustained because it benefits the rich and not the poor as intended.” According to her, this downstream sector re-

forms will take the pattern of all other reforms by President Goodluck Jonathan. “Much has been achieved in the oil and gas industry since the take over of President Goodluck Ebele Jonathan. We have commissioned the 180,000 barrels USAN field FPSO by Total. The project is already producing 130,000 barrels per day. “We have revamped fuel depots like Enugu and Benin depots as well as pipelines (Gombe line). The establishment of Ogidigbe Gas Free Zone and the Uben-Geregu pipelines. “We have also secured $450 million funds for Cal-

abar-Ajaokuta-Kano pipeline extension. We have also taken critical Gas flare down programme and as a result of this, reduced gas by 20 per cent. “The government of Dr. Goodluck Ebele Jonathan has also liaised with international community on crude oil theft. One of this is the active crude oil theft session hosted by Nigeria at the Cambridge recently. The response from our partners from foreign land has been encouraging and I can assure you that in no distance future, the crude theft, through this efforts and others, will be checked. “In 2013 alone, all pipelines were severely vandal-

ised and sabotaged at one point or the other. This has led to resulting escalation of budget implementation and differed about 300, 000 oil production daily. “Most of our oil blocs in the onshore and shallow waters are already ageing. “We now have capacity for over three million barrels per day daily production. JV has been underfunded in recent times.” On the Petroleum Industry Bill (PIB), AlisonMadueke said that the bill was meant “to be a holistic legislation and when passed, it would guarantee a lot more protection in the setbacks of 2.3 million barrels per day we had till the year 2013.”

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

Sanctity of Truth

Wednesday, March 19, 2014

EXPLANATION

Interior Minister and Comptroller General of Immigration to explain their role in the tragedy Philip Nyam and Biodun Oyeleye

ouse of Representatives yesterday summoned Interior Minister, Comrade Abba Moro, and the Comptroller-General of Immigration, Davis Parradang, to explain their role in the death of some Nigerians last Saturday during the aptitude test conducted in various parts of the

Immigration test tragedy: Reps summon minister, Parradang Ex-Immigration chief flays use of consultants country. The House mandated its joint committees on Interior, Justice, Labour, Productivity and Public Service Matters to investigate Moro, Parradang “and all those involved in the national tragedy and report back in one week”. It also directed the Ministry of Interior to identify and offer automatic employment to relatives of all the can-

didates that died as compensation. This followed the adoption of a motion of urgent national importance brought by Hon. Sunday Karimi (PDP, Kogi), in which he sought for the condemnation of the tragedy. In passing the resolution, lawmakers took turns to condemn the ministry and the Immigration Service for the

poor handling of the exercise and urged the Federal Government to put a stop to such recruitment policies. While leading debate on the motion, Karimi noted that on March 15, 2014, over one million Nigerian youths trooped to Abuja and state capitals to participate in the 2014 Nigerian Immigration Service recruitment exercise, for which the Ser-

Members of the Movement for Democratic Change and Peoples’ Rights (MDCPR) during a protest rally to the Lagos State Governor’s office, Alausa, Ikeja, Lagos, demanding the suspension of the Minister of Interior, Mr. Abba Moro and the Comptroller General of Nigerian Immigration Service (NIS), Mr. David Parradang over the poor planning and execution of last Saturday’s NIS recruitment exercise…yesterday.

451

The total area (in sq. km) of Seychelles (Africa’s smallest country) Source: Blatantworld.com

69,485

The total area (in sq. km) of Lake Victoria (Africa’s largest lake) Source: Blatantworld.com

The number of disputed territories in Africa Source: Blatantworld.com

New Speaker emerges in Delta Dominic Adewole Asaba

equel to the resignation of the Speaker of the Delta Sate House of Assembly, Rt. Hon. Victor Ochei, three days ago, Hon. Peter Onwusanya, yesterday emerged as the new Speaker. Onwusanya represents Oshimili South State Constituency and is on his first term. He was generally accepted by his colleagues as the right man for the job.

The new Speaker won his constituency seat in 2011 after a protracted case of unlawful substitution by the Peoples Democratic Party (PDP). His emergence was nevertheless under tight security as stern-looking policemen were at hand to curb the excesses of hoodlums and spectators who besieged the Assembly complex to catch a glimpse of what would transpire. Ochei fell out with the powers-that-be in the state,

including the leaders of the state chapter of the PDP, after he hobnobbed with the newly registered All Progressives Congress (APC) ahead of 2015. A video clip of his romance with APC, recorded on phone, was allegedly played for Governor Uduaghan who expressed dismay that the man he and his predecessor, Chief James Ibori, empowered could betray them, and decided to rubbish his governorship bid.

He was allegedly told to retrace his steps but he refused having sensed that he may not win the PDP primary governorship election. His ambition to succeed Governor Uduaghan was called to question by the foremost Ijaw leader, Chief Edwin Kiagbodo Clark, last year when he queried the whereabouts of the N27 billion, the money earmarked for the state’s Independent Power Plant (IPP).

vice had in September, 2013 advertised positions into it and had obtained N1,000 as Application fee from each of the Applicants. He said about 70,000 showed up at the National Stadium, Lagos while at Liberty Stadium, Ibadan 20,000 participated. The statistics, according to him, include: Abuja National Stadium, 70,000, Ilorin, 25,000, Benin, at the Samuel Ogbemudia Stadium, 26,000, Sani Abacha Stadium in Kano, 5,800. “In Benue State, 17,800 youths took part in the exercise and in Port Harcourt, about 23,000 candidates enrolled for the recruitment exercise. Despite the crises and insecurity in the North-East, Gombe and Borno states played host to about 5,000 applicants each, while in Sokoto State, 10,000 applicants participated in the recruitment exercise,” he stated. “This resulted in chaos and stampede in all the centres and several persons were reported dead and many more critically injured. At least, about 21 deaths were reported. In Benin, three pregnant women lost their lives, in Abuja, eight candidates, including two men and six women died at the venue. In Port Harcourt, five corpses, including that of a pregnant woman, were recovered at the scene” Supporting the motion, Hon. Nkoyo Toyo (PDP, Cross River) attributed the crisis to a structural problem in the Nigerian society. She also carpeted the minister’s claim that the death resulted from the impatience of candidates. Deputy House leader, Hon. Leo Ogor (PDP, Delta) said the Immigration scandal called for sober reflection from all Nigerians particularly those in government arguing that devolution of powers was the only answer to

the intractable problem of unemployment in the country. Hon. Mohammed Kaita (APC, Katsina) berated the government for generating revenue from the hapless applicants instead of providing jobs to them. Hon. Nkiruka Onyejeocha (PDP, Imo) expressed disappointment that even with the tragic turn out of events at the recruitment, the minister and the Comptroller General did not resign, suggesting that serious sanction be taken against all those involved in the sham. According to Hon. Ali Madaki (APC, Kano), what happened was a “classic case of a failed state” and called on the House to urge the president to sack both the minister and the Comptroller General. To Peter Akpatason (APC, Edo), the incident was “a case of criminal neglect of duty” arguing that a responsible organisation should have prepared a conducive environment for the candidates instead of using stadia. Similarly, Hon. Jumoke Okoya-Thomas (APC, Lagos) blamed the National Assembly for failing to forestall the occurrence of the accident. She said it was unfortunate that getting quality education and job was a big challenge in Nigeria. Others who condemned the development were Hon. Patrick Asadu (PDP, Enugu), Hon. Bello Osagie (APC, Edo), Musa Adar (APC, Sokoto) and Chris Etah (PDP, Cross River). The House, presided over by Speaker Aminu Waziri Tambuwal, unanimously passed the motion after the exhaustive debate. Meanwhile, a former Assistant ComptrollerGeneral of Immigration, C O N T I N U E D O N PA G E 5

NEWS

STORMED Protest as security agents storm aspirant’s campaign office in Oyo State

Sanctity of Truth

Wednesday, March 19, 2014

Gun-running: Police raid PDP guber aspirant’s office, arrest 25 PDP accuses opposition of sponsoring terror to destabilise Jonathan

Sola Adeyemo and Onyekachi Eze

ecurity agents yesterday raided the Ibadan campaign office of a Peoples Democratic Party (PDP) governorship aspirant in Oyo State, Seyi Makinde, where about 25 loyalists were arrested. According to New Telegraph investigation, the office was raided following a petition that arms and ammunition were stored there. Nothing incriminating was, however, found in the building located around Bestway, along Iwo Road in Ibadan. During the sudden raid, one side of the ever-busy road was blocked by the combination of security men from the Special AntiRobbery Squad and Operation Burst who were fully armed. At the scene, tension

was so high with scores of Makinde’s supporters condemning the act, accusing Governor Abiola Ajimobi of being the brain behind the raid. Among those whisked away were women and men, including a pastor. Reacting to the development, an Ibadan High Chief, Senator Lekan Balogun, who is also a PDP chieftain, described the raid as a violation of the rights of innocent people, saying, before the raid, the police ought to have told the State Security Services (SSS) to carry out surveillance to know if it was true that arms were actually there. When the Public Relations Officer of the police, Olabisi Ilobanafor (DSP), was contacted on phone, a woman who answered the call said she was not on seat. Meanwhile, the PDP has accused opposition parties

of sponsoring insurgency and sectarian violence in the country to destabilise the President Goodluck Jonathan administration. The party, in a statement signed by its National Publicity Secretary, Chief Olisa Metuh, also alleged that investigations

have shown that these acts of terrorism were being sponsored by unpatriotic elements whose aim was to constrain the successful delivery of Jonathan’s transformation programme so as to portray him as nonperforming and thereby ridicule his score card.

“We accept the reality of terrorism as a global phenomenon, however, the peculiar trend of the Nigerian version which subsists on a welter of nebulous demands and masked identities, hacking down innocent Nigerians – women, children and the elderly

in an awful scorched earth fashion, and in an obstinate ridicule of dialogue, defies all reason and logic and only summarises a well-considered agenda of national destabilisation for a purely selfish political cause. We pointedly finger the opposition”.

L-R: Advert Manager, New Telegraph, Taiwo Ahmed; Admin Manager, Robinson Eze; Advert Executive, Esther Chima; General Manager, Marketing and Business Development, Mikano International Limited, Mr. Rayan Rayad; Assistant Marketing Manager, Carol; Deputy Editor, New Telegraph, Mr. Emeka Obasi, and Deputy Circulation Manager, Tunde Dosunmu during a courtesy visit by members of the newspaper to Mikano’s head office in Ogba, Lagos...yesterday. PHOTO: TONY EGUAYE

Confab adjourns amidst controversy over religion, ethnic agenda CONTINUED FROM PAGE 1

one religion above the others. The ugly trend reared its head same day delegates voted unanimously to be Nigerian delegates and not ethnic champions at the conference. They rejected an earlier proposal by Chief Sergeant Awuse seeking that the delegates should be made to sit according to their states and geo-political zones to enable them jointly articulate and present their peculiar agenda to the conference. The conference, which effectively kicked off a day after its inauguration, ran into the sensitive issue of religion when the Assistant Secretary, Finance and Administration, Professor Mahmood Yakubu, briefed the delegates on the arrangements being made for Muslims among them to have a place where they could observe their daily prayers. He said that since the

mosque in the premises of the National Judicial Institute was still under construction, an arrangement was being made to secure an alternative place for them. Yakubu was, however, silent on where adherents of other faiths may also meet to pray and offer supplications. In the course of the proceedings, prominent lawyer and human rights activist, Chief Mike Ozekhome (SAN), informed the gathering that adherents of the Christian faith were observing their Lenten season, a period of 40 days during which they were expected to fast and pray at intervals. Ozekhome asked if there was any arrangement by the secretariat of the conference to take care of the needs of Christians during the period. This drew some laughter and murmuring across the hall, an indication that the message of religious

equity had been understood. However, it took the intervention of radical Lagos cleric, Pastor Tunde Bakare, to calm frayed nerves. Bakare, who addressed the issue objectively, called for restraint on the issue of religion. He expressed discomfort at the penchant of the Chairman of the Conference, Justice Idris Kutigi, to begin proceedings with some incantations peculiar to the Islamic faith when he was supposed to be presiding over a multiethnic and multi-religious gathering. “Mr Chairman, you began your speech yesterday with some words I did not understand. Today again, you have also said something I do not understand. We should adopt a standard language. We should not allow religion to divide us. If I stand up to speak and I begin by saying: Praise God somebody...

We may end up having a church service instead of a national conference,” Bakare said. The conference later adjourned till Monday, March 24 to enable delegates conclude their registration formalities, study the conference documents given to them and return to start full deliberations. There were initial speculations that the adjournment was because the secretariat was yet to resolve the accommodation, remuneration and other challenges facing the delegates but Assistant Secretary, Media and Communications, Mr James Akpandem, explained that it was not true. “The adjournment has nothing to do with accommodation or other logistics. The reason is that we have given the delegates materials concerning the conference; they are to go and read and digest them. They will also be given the Rules of the Conference

by Thursday and we want them to study all these materials over the next few days and come back fully prepared so that we can hit the ground running,” Akpandem said. Earlier, Principal Officers of the Conference took turns to introduce themselves and brief the delegates on the roles each office was expected to pay. According to the briefing, the conference is billed to sit for four days (Monday-Thursday) every week. Proceedings would begin at 10am and end at 6pm each day. However, Secretary to the Conference, Dr Valetie Azinge, explained that all the rules and programmes would be subjected to debate and a common position would be adopted at the end. According to Azinge, the conference would be as democratic as possible, allow freedom of speech and give room for every delegate to challenge any

position he or she found unacceptable. Meanwhile, all delegates will earn same allowances. Yakubu told the delegates yesterday that the secretariat would not disclose the amount that would be paid to each of them. According to him, the payment covers accommodation, transportation and sitting allowances. He said that the delegates would be notified by their respective banks. ``Everything (allowances) has been monetised. Every delegate will be paid through e-payment and will be alerted by their banks. ``The payment, that covers accommodation, transportation and sitting allowances, will be paid every two weeks. ``We will not disclose it but the delegates are free to do so when they receive their payment slips. The C O N T I N U E D O N PA G E 5

Sanctity of Truth

Wednesday, March 19, 2014

Confusion as fire guts Christ Embassy Muritala Ayinla

here was confusion yesterday at Oregun and its environs as fire gutted the generator house of the Christ Embassy Headquarters in Lagos. For over three hours, church members, officials of the Lagos State Fire Service, Lagos State Emergency Management Agency, LASEMA battled to put out the fire. Although the cause of the inferno could not be immediately ascertained, New Telegraph

learnt that the fire was triggered by electrical fault at the generator house. The incident happened some seconds after power was interrupted. It was learnt that a member of the church had to put on the Generator in order to restore the light to enable them continue the evening service, which was put on hold by the power outage. Tick smoke bellowing from the scene enveloped the entire Alausa, Oregun, Seven UP axis while some members of the church ran helter-skel-

ter. The filling stations around the church were also seen making efforts to close down their stations to avert the spread of the inferno to them. The sudden fault developed by the fire truck of the Lagos State Fire Service almost marred emergency response efforts as church members attempted to beat some of

the officials. Some church members resorted to prayers while others collaborated with the state fire men to put out the fire. No life was lost in the incident in which property worth several millions of naira as all the mighty generators used to power the church were destroyed by the fire.

None of the church members was willing to comment on the incident. But the Lagos State Director of Fire Service, Rasak Fadipe said:” It was a serious fire incident, the tick black soot that rented the sky was conspicuous from our office in Alausa. We used four water trucks contain-

ing 10,000 litres of water each. On getting here we discovered that fire gutted the generator house, the power house. These are very big generators about 14 and tanks that are fully loaded with diesel. With the combined efforts of our men, we were able to prevent the fully loaded tanks from getting engulfed with fire.”

NSA reveals new strategy in Boko Haram fight

he Federal Government yesterday unveiled a new “soft power” plan to defeat Boko Haram, hoping to win hearts and minds in the restive northeast, as the military said it was tightening the net on the ground. National Security Adviser (NSA), Sambo Dasuki, said the government was to introduce schemes to encourage local communities to shun extremism as well as “deradicalise” suspected mili-

tants awaiting trial. “It’s a stick and carrot approach... We believe that we can win the war against terror by mobilising our family, cultural, religious and national values,” he told a news conference in Abuja. New tactics were required because the Islamists had infiltrated communities in the remote region, enabling them to spread their message more effectively than the government, he added.

Key elements of the STRATEGY • De-radicalisation of Boko Haram detainees • Two prisons have been refurbished to rehabilitate suspected insurgents. • Sixty prison psychologists will be trained specifically to counsel “terror suspects”. • Training for prison staff in areas including psychology, sport and art therapy. • Detainees to receive vocational training. • Relatives, local leaders and civil society groups will be given access to the detainees to monitor the rehabilitation programme.

Immigration test tragedy: Reps summon minister, Parradang CONTINUED FROM PAGE 3

Abdulmumini A. Abdulmalik, has condemned the involvement of consultants in the recruitment of personnel for the agency, saying no other arm of the military would have accepted such a practice. AbdulMalik also asked the supervision Ministry of Interior to hands off such exercise and concern itself mainly with

policy formulation for the paramilitary agencies under it as practised by other arms of the military. He argued that those asking for the sack of the leadership of the Nigerian Immigration Service (NIS) in the wake of the tragedy that followed the exercise have only missed the point because the exercise was a project of the supervising ministry from the start.

Christ Embassy, Oregun, Lagos on fire…yesterday.

PHOTO: MURItala ayinla

Confab adjourns amidst controversy CONTINUED FROM PAGE 4

allowances paid are the same for everybody,” he said. Yakubu said that the Federal Government policy did not allow payment in physical cash except through e-payment and every delegate would be notified by his/her bank. The Secretary to the conference, Dr Valerie Azinge, said no provision was made for aides of the delegates. She, however, said facilities would be provided for the physically-challenged and the elderly where necessary. Some of the delegates complained about facilities at the National Judicial Institute (NJI), which they said were not very conducive for the conference’s proceedings. Azinge, however, appealed to them to make use of the facilities available, adding that it was the best facility they could get in Abuja. She explained that the International Con-

ference Centre (ICC) is currently being occupied by the ECOWAS Parliament and that the centre had a standing rule with ECOWAS. She said other issues which were also noted not have been included in the President’s speech would form part of the agenda when the conference reconvenes. Azinge said that the speech would also form part of the major business of the conference for the next two weeks before breaking into committees. According to her, the presiding and principal officers have set out clear cut plans to achieve the purpose of the conference. She, however, said that before Monday’s session the rules of proceedings would be presented to the House to endorse, reject or make amendments. Also yesterday, the Federal High Court sitting in Abuja struck out the application for interlocutory injunction brought by a constitutional lawyer, Dr.

Tunji Abayomi, seeking to stop the Conference, pending the determination of the substantive suit. The striking out was sequel to the withdrawal of the application by the plaintiff. Counsel to the defendants, Femi Falana (SAN), did not oppose the application for withdrawal. The court also granted the plaintiff, leave to join the Chairman of the Conference, Justice Idris Legbo Kutigi (rtd), the Vice Chairman, Prof Bolaji Akinyemi and the Conference Secretary, Dr. (Mrs) Val Azinge as fifth to seventh defendants respectively. The Court consequently adjourned till March 31 for hearing. Abayomi had on March 4 approached the Court asking it to stop the conference on ground that President Goodluck Jonathan lacks power to convene it. Joined as first to fourth defendants are the President, Federal Republic of

Nigeria, Attorney General of the Federation, President of the Senate and Speaker of the House of Representatives. Abayomi, who spoke with New Telegraph after the court session, said that the funds earmarked for the conference can pay the salary of 200,000 youths for three months which is the duration of the conference at N40,000 per month. “You are spending N12 million on each delegate, those that are already overfed, meanwhile the hungry in their desperation to find solution to the terrible problem of sustenance by way of employment are dying at the stadium including a pregnant woman. “I am strongly opposing the convocation of the national conference by the President because no law gave him the power to do so. I am not doing this for anybody and no group paid for doing this. I am representing the rule of law and constitution.

NEWS

Wednesday, March 19, 2014

photo news

Nasarawa House summons Al-Makura

Muhammad Ahmad Lafia

T L-R: Special Adviser to the Governor on Women Affairs and Social Welfare, State of Osun, Mrs Funmilayo Eso-Williams; former Head of State, General Yakubu Gowon; Lord Watson of Richmond and Director General, Office of Economic Development & Partnerships, Osun State, Dr. Charles Akinola, during the presentation of 2014 AD King Prize for Achievement in Public Service to Governor, State of Osun, Ogbeni Rauf Aregbesola, at Commonwealth Observance Day in London.

he Nasarawa State House of Assembly has summoned Governor Umaru Tanko AlMakura to appear before it today . The summon was sequel to his failure to honour an earlier invitation by the Assembly. The governor had hinged his refusal to honour the invitation on the claim that the House did not state the reasons for the invitation in its letter. The latest summon came after a motion

Cephas Iorhemen

Makurdi

A L-R: Veteran Nollywood Actor, Olu Jacobs; Owner, Lufodo Academy of Performing Arts, Joke Silva and Chief Executive Officer/Founder, Public Vine, Nam Mokwunye, during the Public Vine Nigerian Video Vendor Registration, held in Lagos...yesterday

Edo State Governor, Adams Oshiomhole (left), signing the relevant documents after Mrs. Vera Obadan (right) was sworn-in as the Permanent Secretary, Edo State Inland Revenue Services…yesterday.

t least six persons were reported killed and scores of others injured in a fresh protest that rocked Dangote Cement plant Near Tse Kucha in Gboko Local Government Area of Benue State yesterday. Consequently, the ever-busy Gboko-Makurdi Expressway was blocked for over five hours compelling passengers and other personnel to remain stuck in the scorching sun. New Telegraph gathered that trouble started when one of the workers in the company was accosted and arrested by men of the Nigerian Army for urinating in a

vokes Section 129 (C) of the 1999 Constitution of the Federal Republic of Nigeria as amended to invite him to appear before the House on Wednesday March 19." Majority Leader, Godiya Akwashiki, who represents Nasarawa-Eggon West, explained that the governor had written to the House turning down its invitation, pointing out that the House had written letters of invitation to some key stakeholders in the state to discuss issues of security and local government election.

Six die in Benue cement plant protest corner of the company premises. It was learnt that in attempts by other workers to rescue their colleague from the soldiers, he was allegedly shot in the head. He died instantly. According to an eyewitness, "His (the deceased) colleagues had come to try to rescue him, but the angry army officer shot the young man and killed him instantly." Five other workers were also reported killed by the soldiers. The incident, the eyewitness said, triggered

the rioting which lasted over six hours forcing business and banking activities in the company to a halt. The intervention of armed mobile policemen from Gboko however saved the situation from deteriorating further. The cement plant is located 72 kilometers from Makurdi, the state capital. Meanwhile, five persons were also yesterday butchered and a pregnant woman set ablaze by suspected Funani herdsmen, at Iwenge near Welfare Quarters in Makurdi.

Lagos to sue owners of abandoned vessels for ecological damage Dayo Ayeyemi and Muritala Ayinla

L - R: Regional Trade Marketing Manager, East, Nigerian Breweries Plc, Mr. Austin Aka; winner of Brazil ticket, Chukwuma Tochukwu Obo; Brand Manager, Star, Nigerian Breweries Plc, Obabiyi Fagade, and show compere, ; Njoku Bethel (Senator) during the last edition of the Star Trip To Brazil promo, held at the Bamboo Garden, Awka, Anambra...yesterday

moved by the Deputy Speaker of the House, Elisha Agwadu (PDP -Obi 1) and seconded by Muhammed Muluku (PDPNassarawa-Eggon East). While moving the motion, Elisha urged the House to use its constitutional powers to summon the governor and that was unanimously accepted after the motion was seconded. Ruling on the motion, the Speaker, Musa Ahmed Mohammed, said, "Based on the refusal of the governor to honour its invitation, the House hereby in-

wners of abandoned vessels on Lagos coastline would soon have their days in court as the Lagos State Governor, Mr Babatunde Fashola, yesterday said plans had been concluded to prosecute them for causing ecological damage on the shoreline. Fashola said legal proceedings would soon begin on the abandoned ships, once the owners are identified.

Speaking at the opening ceremony of the three-day 6th Climate Change Summit held at the Eko Hotels and Suites, the governor also said the state, through its various climate change initiatives, has created no fewer than 58,578 jobs, to reduce the employment deficit in the state. Fashola, who also spoke on the theme of the summit “Exploring business opportunities in climate change mitigation and adaptation: Lagos state in focus”, said the state government would pursue

claims against owners of the vessels. He said: “We are looking at how to get professionals to assist in identifying owners of ocean-going vessels that are being abandoned on our shoreline. "We intend to pursue claims against such owners for ‘ecological damage’ which their ship has done to our state. The shoreline protection project of 12 groins out of which six are almost complete are helping to slow down erosion of the Atlantic coastline in the state.”

NEWS

Sanctity of Truth

Wednesday, March 19, 2014

We 'll reclaim stolen PDP mandates – Jonathan POLITICS

All PDP governors that decamped to APC will not be allowed to remain with them, President Jonathan vows Anule Emmanuel ABUJA

resident Goodluck Jonathan, yesterday, vowed that the Peoples Democratic Party (PDP) will reclaim all its mandates stolen by the opposition parties. The President stated

this when he received a delegation of PDP stakeholders from Kwara State who paid him a courtesy call at the presidential villa, Abuja, in appreciation of the successful unity rally held in the state two weeks ago. Addressing the delegation, President Jonathan, who commended the stakeholders for the reception accorded to him, the Vice President and the national team of the PDP while in the state, noted that Governors of the PDP who recently decamped to the All Progressives Congress (APC) had stolen

the party's mandates and must not be allowed to remain with them. States whose Governors recently defected from the PDP to APC are Kwara, Adamawa, Kano, Sokoto and Rivers. The President said, "All those stolen mandates will be returned to the PDP, and those who think that they can run away with our mandates, will not succeed. Just like the Principal Secretary said, the taste of the pudding is in the eating. In 2015, we will know who owns Kwara. And if God gives us the opportunity, which

I believe, He will, we will even test our strength before 2015. "We must take over the structures of these states, the Governor and the state Assembly, we must take all, because it is easy to reach the grass root through the states than at the center because the country is so big that by the time we distribute positions, you will not be noticed. But at the state level, we can touch more people. "This is because any state we are unable to win, members of the party in that state will continue to

live like orphans. So definitely, we are taking back Kwara" The President commended the PDP members from Kwara for their dedication, adding that "you spent your personal money in mobilizing our people to get there that day. We remain very grateful and from what we saw that day, I do not think we need a sooth sayer to say that Kwara is totally for the PDP. Kwara is totally for PDP" Earlier, Senator lak Jimoh, who spoke on behalf of the group said "What you saw on that day, is just

a tip of an ice berg compared to what we are able to achieve" He assured that they will do their very best to ensure Jonathan's re- election and victory of PDP in Kwara. Among those in attendance were special adviser to the President on Ethics and values, Serah Jubril, former minister of transport, Ibrahim Biu, Special Adviser to the President on National Assembly, Suleiman Ajadi, Senator Semion Ajibola and other prominent citizens of Kwara state.

EPZ project: FG summons 24 Itsekiri elders Joe Obende Warri

The Federal Government (FG) has directed that 24 elders from the feuding Ugborodo Community in Warri South-West Council Area of Delta State should be selected and invited to Abuja for a peace parley aimed at finding a lasting solution to the protracted leadership tussle rocking the riverside community and threatening the nation’s $16 billion Export Processing Zones (EPZ) project meant for the area. The peace parley billed for Thursday, March 20, 2014 is to be jointly chaired

by the Chief of Naval Staff, Rear Admiral Usman Jibrin and the Inspector General of Police, Alhaji Mohammed Abubakar, who have been heading a constituted committee over the crisis. The New Telegraph learnt in Warri that the elders are to be nominated from the two feuding factions headed by Chief Thomas Ereyitomi and Dr. Alex Ideh/Hon. David Tonwe. Government had earlier directed each of the two factions to submit ten nominees each for the 21-member Ogidigben interface committee to be reconstituted.

Night guard found dead in tanker in Ibadan Sola Adeyemo Ibadan

esidents of Amuloko area on Akanran Road in the Ona Ara Llocal Government Council of Ibadan were, yesterday, thrown into bewilderment when they discovered the dead body of a night guard in a trailer tanker marked LAGOS XL 45 JJJ. The guard, Ismaila Abiodun, a member of the Odua Peoples Congress,

was until Sunday night working with a colleague, Kabiru (who is now in police custody at Akanran) as night guard at the MRS Filling station, Amuloko. Opposite the filling station where kerosine was being dispensed, is a shopping complex with a trailer park behind, where petrol tankers of 'Friendly Top Filling Station' at Sawia area of Olorunsogo are usually kept.

L-R: National Leader, All Progressives Congress (APC), Asiwaju Bola Tinubu; Rivers State Governor, Mr. Rotimi Amaechi; Former Head of State, Gen. Muhammadu Buhari (rtd); Ekiti State Governor, Dr. Kayode Fayemi; and APC Interim Chairman, Chief Bisi Akande, during the National Executive Council Meeting of the Party, Abuja…yesterday

No religion is against Osun schools re-classification – Committee

sun State Governor, Rauf Aregbesola, on Monday, appreciated God for not allowing the state to be engulfed in crises over the schools reclassification, affirming that the basis for animosity was ego. The governor said this while receiving the report of the committee he set up four weeks ago to investigate and recommend solutions to the disturbances at the Baptist High School in Iwo, stating that the Yoruba race had lived for several millennia with strong distinction on how to approach the divine without any problem. The government had

embarked on a reclassification that saw to the emergence of bigger schools where instructional facilities are concentrated for effective learning. It was aimed at achieving a completely restructured education system for improved result with its meagre resources. He stressed that the policy was designed to bring out the best from pupils and students, hence the decision of government to nip in the bud the sectarian unrest at the Baptist High school, Iwo. The Committee led by a former Commissioner for Justice and Attorney General in the state,

Barrister Gbadegesin Adedeji, had noted while submitting it's report that no religion in the state was against the reclassification policy. He said that contrary to insinuations that the re-classification exercise of schools in Osun was the cause of unrest in schools, the Committee on Monday night revealed that no religion in the state is against the policy. According to Gbadegesin, "The crisis in Baptist High school in Iwo was an issue that should not be treated with kid gloves. I want to use this opportunity to applaud the state government for setting

up this committee." "If the case of Iwo Baptist High school had been allowed to fester, it could have spread over the state. During our assignment, people came out in their hundreds and we had frank exchange of what could be the problem. "On the basis of what they told us, we were able to get to a conclusion that no single religion is against the re-classification policy, rather all we noticed was that it was the ego among the three dominant religions in the state that has been played up," the chairman of the committee pointed out.

e ) n d e

8 ACROSS THE NATION LAGOS LAGOS

Fani-Kayode’s tral continues The trial of former Minister of Aviation, Chief Femi Fani-Kayode resumed yesterday at the Federal High Court in Lagos, with the prosecution tendering additional statement of his bank accounts. A prosecution witness, Mr Elonna Ezelo said no formal report was made to any authority concerning the former minister’s financial transactions. The Economic and Financial Crimes Commission (EFCC) charged Fani-Kayode with 40-count charges of money laundering.

Led in evidence by EFCC’s lawyer, Mr Festus Keyamo, Ezelo, the second witness for the prosecution and a Legal Officer with the First City Monument Bank Plc (FCMB), said the accused first maintained an account with First Atlantic Bank Plc, which later transformed to First Inland Bank Plc (Finbank Plc), and now FCMB.

ABUJA FCT

Nigeria targets 5.7 billion gas cubic per day by 2020

Sanctity of Truth

Wednesday, March 19, 2014

OGUN AbEOKUTA

Progressive govs move to tackle unemployment Few days after the disaster which plagued the Immigration Department’s recruitment exercise across the country, Commissioners in-charge of Budget and Planning in 16 states being governed by Progressive Governors Forum (PGF) have moved towards formulating policies that would tackle unemployment in their states. The commissioners, who converged at Abeokuta, the Ogun State capital for PGF Policy Design Session on Unemployment, identified lack of accurate data and viable plans among others as causes of rising rate of unemployment in Nigeria and agreed on the urgent need to deal with the scourge. Speaking on the causes identified by participants at the event,

the Director-General of PGF, Dr. Saliu Lukman said the issue of unemployment is about the number one problem in the country, which must be tackled holistically. He reiterated the commitment of the progressive governors to finding lasting solutions to the problem and said the technical session of the meeting would look at issues and how they manifest themselves with a view to generating recommendations. Beyond the theories which the session seeks to look at, we will go down to the State to get the people’s view and balance this with the theories, to form proposals to be presented to the governors. When they are adopted, they become polices for all the16 states of APC”, he submitted.

KANO

EBONYI

KANO

ABAKALIKI

Court sentences 4 armed robbers to 84 years imprisonment

College of Education dismisses 15 lecturers

A Kano State High Court has sentenced four persons to 84 years imprisonment for armed robbery. Monday Joseph, Umar Adamu, Simon Chile and Mukhtar Adamu, were convicted for robbing A. A. Rano Tudun Wada filling station in 2012. The convicts had in December 2012 attacked the Assistant Manager and some staff of the filling station, and carted away N2.68 million during the operation. Delivering judgment on Tuesday, Justice Nura Sagir said that each of the convicts would serve 21 years in prison. He said that the prosecution had convinced the court beyond reasonable doubt on their involvement.

To address, especially the shortage of gas to power problem holistically, the Group Managing Director of the Nigerian National Petroleum Corporation, Engr. Andrew Yakubu yesterday stated that the nation's gas supply target for the year 2020 is 5.7 billion OYO cubic feet per day. IBADAN Also he stated that Nigeria expects to produce over Oyo House approves 3 million barrels of oil per creation of three more day by 2020 which should ministries secure its position as AfReports of commit- rica's leading producer. tees on creation of three more ministries in Oyo has been approved by the Oyo State House of Assembly. The bill was passed into law for the establishment of the Ministries as held at the plenary presided over by the Speaker of the House, Honourable Monsurat Sunmonu. Chairmen of the committees on Works and Transport, Honourable Waliu Adekunle, Agriculture and Natural Resources, Honourable Amao Salaudeen and Special Duties, Honourable Adesope Azeez had earlier submitted their L-R: Chairman of the occasion, Chief Arthur Mbanifo; Senator Olabiyi Durojaye and Minister of Agriculture and Rural Development; reports before the lawDr.Akinwunmi Adesina during the 19th Annual Lecture, Award of Honours and Postgraduate Scholarships organised by Stephen Oluwole makers. Awokoya Foundation for Science Education in Lagos …yesterday. PHOTO:GOWIN IREKHE

The Ebonyi State College of Education, Ikwo, has dismissed 15 lecturers that allegedly obtained fake certificates from unrecognised universities by NUC in the country. The lecturers were last year demoted to different positions, pending the outcome of the investigation of the management on the issue, which came out last week with stertling facts that eventually led to their dismissal.

NASARAWA LAFIA

Al-Makura lays foundation of 100-bed hospital Gov. Umaru AlMakura of Nasarawa State yesterday laid the foundation for the construction of A 100-bed specialist hospital in Akwanga. In his speech at the occasion, Al-Makura said the project would mark a turning point in the provision of qualitative health care services to the people of the area. He said the project which was scheduled to commence last year, was delayed over land ownership tussle and litigation, which had been settled. The governor said the hospital, which was originally designed as a 60-bed capacity hospital, was expanded to 100 beds owing to the strategic location of the town.

EKITI STATE

ABUJA

BAUCHI

Ado-Ekiti

FCT

BAUCHI

Ekiti commissioner assures corps member The National Youth Service Corps (NYSC) member, Thompson Enobong, who was at the centre of a brawl at a registration unit in Otun-Ekiti at the weekend, has been assured of his safety. The assurance came on the heel of insinuation that he could be attacked as a result of the altercation he had with the Ekiti State Commissioner for

Youth and Sports, Mr Kayode Olaosebikan at the weekend. He was reportedly beaten by the commissioner at a polling unit in OtunEkiti. However, Olaosebikan said he did not lay his hand on Enobong during the conduct of the recent continuous voter registration exercise. In a chat with newsmen yesterday, he explained that it was the corps member that assaulted him.

NMA warns against use of tax payers’ money for overseas medicare The President, Nigerian Medical Association, Dr Osahon Enabulele, yesterday advised public officers against using tax payers’ resources to seek medical care abroad. Enabulele told the News Agency of Nigeria (NAN) in Abuja, after the Presidential Summit on Universal Health Cov-

erage, that tax payers’ money should be channelled toward building more healthcare facilities. He said that there was a need to restore confidence in the healthcare system and therefore called on government at all level to intensify political will to strengthen the system.

Post election violence: Bauchi LG received N11m from Fed. Gov’t The Federal Government has compensated the Bauchi Local Government of Bauchi State with the sum of N 11 million to take care of the post-election violence in the area. A press release signed by the Information Officer of the council, Umar Ghani, revealed. The local government

according to the Caretaker Committee Chairman, Alhaji Lawal Babama’aji in its effort to judiciously utilize the funds approved an additional N6m to complement the Federal Government’s N11m to renovate the offices of the Independent National Electoral Commission (INEC) and Directorate of National Civil Registration (DNCR) that were affected by the eruption of the violence.

NEWS

Sanctity of Truth

Wednesday, March 19, 2014

Why NIS applicants booed Okorocha DISTRACTION Job seekers kick against governor's 'unwanted distraction' at Recruitment centre Steve Uzoechi OWERRI

he last has not been heard of the recruitment test conducted by the Nigerian Immigration Service (NIS) that turned tragic in several state centres of the country last week. Yesterday, one of the applicants who participated in the test in Owerri, explained why the Governor of Imo State, Rochas Okorocha, was booed at the centre. According to the applicant, who would not allow his name in print,Dan Anyiam Stadium, Owerri did not witness any death, but the riotous exercise witnessed some dramatic scenes of the absurd.

According to the applicant, at the peak of the sweltering sun last Saturday, Governor Rochas Okorocha and his entourage walked into the Dan Anyiam stadium, venue of the NIS recruitment test. His mission was not known to the applicants. It was tough creating space for the gover nor’s entourage to pass through, as it was evident on the faces of the applicants that he was not wanted at the arena. The governor, however, addressed the job seekers, promising that he would ensure that the recruitment quota due to the state was not trifled with. While some sections of the stadium got unruly and noisy, others were totally indifferent to what the governor had to say, believing it was an unwanted distraction for any candidate preparing to write a test.

Rivers CJ appointment: Court nullifies NJC recommendation Joe Ezuma Port Harcourt

Federal High Court in Port Harcourt yesterday nullified the National Judicial Council’s (NJC) recommendation that Justice Daisy Okocha be appointed Chief Judge of Rivers. Justice Lambo Akanbi, in his judgment, held that ``NJC recommendation is wrong’’, because the council gave no reasons why it preferred Okocha to Justice Peter Agumagu. ``The governor is not a rubber stamp governor. The role of NJC is advisory; the governor has the right to accept or not; he is not a rubber stamp governor,’’ he said. Akanbi said the Rivers Judicial Councils (RJC) and NJC had the constitutional powers to advise the

governor, but that the NJC was expected to collaborate with Rivers council. He held that RJC was in a better position to advise NJC because it had the best knowledge of the candidates. Akanbi said the defence’s argument that Agumagu was not in the high court system did not hold water. He gave instances of states, including Oyo, where a chief judge was appointed from outside the high court. Mr Olusola Dare, Counsel to Gov. Rotimi Amaechi, described the judgment as a ``landmark judgment’’. Dare said that the state judicial council was in a better position to determine the most suitable candidate, and noted that NJC could refuse to act on its advice.

Oyo State Governor, Abiola Ajimobi (left), inspecting ongoing construction works at the Agodi Gardens, Ibadan …yesterday. With him are the contractor handling the project, Mr. Gbemi Adio-Moses (second left); Commissioner for Economic Planning, Mr. Atanda Fatai (second right) and others

8.6m

The total number of new Tuberculosis (TB) cases in 2012 Source: Who.int

56m

The total number of people successfully treated of Tuberculosis between 1995 and 2012 Source: Who.int

The rate by which Tuberculosis dropped globally between 2011 and 2012. Source: Who.int

Man docked for stabbing one-year-old baby REMANDED

Accused to remain in prison for allegedly killing an infant Babatope Okeowo Akure

25-year-old man, Olaoluwa Abiye has been docked before an Akure High Court for murder. He allegedly stabbed a year old baby to death. The offence was alleg-

edly committed earlier in the month in Abereke Village in Ilaje Local Government Area of Ondo State. Abiye was alleged to have stabbed to death the baby, Bisola Oludasa during a quarrel with the mother in the village. According to the charge, the incident happened at Abereke village in Igbokoda Area of Ondo State on March 3, 2014 at about 10:00 pm. The police prosecutor, Inspector Olowofeso Martins said the ac-

cused person repeatedly stabbed 'baby Bisola' in the chest, which resulted to her death. Olowofeso urged the court to remand the accused in prison custody in order to allow for further investigation as well as seek a legal advice from the Department of Public Prosecutions (DPP) in the Ministry of Justice. It was said that Olaoluwa committed the offence which is punishable under section 319 of the criminal

code cap 37 Vol.1 of the laws of Ondo State 2006. After reading the charge sheet, the accused pleaded not guilty to the one-count charge. In her ruling, Mrs Olufunke Adegoroye granted the plea of the prosecutor and remanded the accused in prison custody, pending legal advice from the Department of Public Prosecutions (DPP). Magistrate Adegoroye however adjour ned the case for hearing to March 31, 2014.

Immigrations deports nine in Kwara Biodun Oyeleye Ilorin

he Kwara State Command of the Nigerian Immigration Service (NIS) yesterday deported nine Nigerriens claimed to be illegal immigrants and were considered as security risks. Comptroller of the Command, Mr. Ahamefule Nwachukwu, while parading the illegal immigrants before they were deported

to their country, narrated how the nine were arrested following a tip-off around Tanke area of Ilorin with nothing to support their entry into Nigeria. Speaking with Newsmen, Nwachukwu said:“It may not be out of place that they could pose security challenge as, they have no travelling documents.” He insisted that if the Nigeriens had no ulterior motives, they would have entered the country with valid documents and

be accorded their rights as ECOWAS citizens. He said further: “There were some suspected illegal immigrants that were brought at a spot at Tanke by a trailer. They did not come in through the border. We mobilized and rounded them up. We have nine of them on ground to be Nigeriens. We have made arrangements to repatriate to their country today. “They have come into the country and Kwara State

through illegal means. They do not have national travel documents to show that they are travellers from Niger. From our investigation, we have come to know that they are not Nigerians. And they have identified themselves as Nigeriens. That is why we are repatriating them to Niger. If they were to have normal travelling documents, we will receive them as ECOWAS citizens who have the right of free movement."

10 NEWS

Wednesday, March 19, 2014

Power outage: Protest paralyses Ikere-Ekiti Adesina Wahab Ado-Ekiti

ocial and commercial activities in IkereEkiti were yesterday paralysed for hours when aggrieved youths in the town took to the streets, protesting months of power outage in the area. The irate youths, who were protesting two months of lack of electricity supply in the town, blocked major roads leading into the town. The roads blocked included the Ado-Akure Road, which links the state

with Ondo State. Also, commuters coming to the state from Ondo State had to divert to other routes. An eyewitness said the youths started the protest to express the mind of the people of Ikere-Ekiti, saying; “Since January this year there has been power outage in the town and people are suffering. “Officials of the power company just threw the entire town into darkness and nobody knows when it will stop. And this was what provoked the youths into taking to the streets,” she said.

Extractive industry: Jonathan optimistic of leap in economy ECONOMY

In spite of challenges, Nigerian economy looking up Cajetan Mmuta BENIN

resident Goodluck Jonathan said yesterday that the extractive sector has remained a major boost to the nation’s economy growth with the petro-

90%

Group lauds FG over 2nd Niger Bridge Lateef Ibrahim Abuja

socio-political group, the Enugu Roots Initiative (ERI), has lauded the Federal Government for inaugurating the second Niger Bridge, pointing out that the project will accelerate economic activities in the South-East and SouthSouth zones. The group equally called on President Goodluck Jonathan to compel the security agencies to unravel the identity and the mission of the hoodlums that invaded Government House, Enugu, penultimate weekend, stressing that such a serious matter must not be swept under the carpet.

Owerri

ollowing its consultative meeting on the national conference held in Owerri on March 13, 2014, the South East Governance Network (SEGON) yesterday called on delegates to the conference to, among other things, strip public office holders of immunity

change of name

Bello

Formerly Susan Omusun Okhuebor, now wish to be known and addressed as Susan Omusun Bello, all former documents remain valid. General public take note.

at the opening ceremony of the 50th annual International Conference and Exhibitions organised by members of the Nigerian Mining and Geosciences Society (NMGS) holding in Benin, Edo state. Besides, stakeholders in the extractive industry also decried the delay in the passage of the Petroleum Industry Bill (PIB), saying it is a major setback in the realisation of the vision of a vibrant oil and gas industry.

95.3%

Members at the conference after reviewing core issues in the country’s mining and geosciences sector resolved in its communiqué that the issue of security was germane for the development of the sector and should be adequately addressed. They urged members of the National Assembly to expedite action on the passage of the PIB for the survival of the oil industry and overall growth of the economy.

In a communiqué isThe percentage of female internet The percentage of male internet users The total number of regions sued at its enlarged meetusers in Bahrain in 2010-2012 in Luxembourg in 2010-2012 in the world ing in Enugu, the body Source: Itu.int Source: Itu.int Source: Blatantworld.com also called on the Federal Government to revitalise the coal industry because of its vast potentials as a veritable source of energy and as a major catalyst for foreign exchange earnings for the country as was the case in the 1960s. In the communiqué signed by the Chairman of the group, Joni Icheka; Treasurer, Emma Nwodo and the Public Relations Officer, Malachy Uzendu, ERI insisted that the Federal Government should complement the second Niger Bridge by paying attention to the slow pace of work of the contractors handling the Enugu-OnitDirector General, Progressive Governors' Forum (PGF), Dr. Saliu Lukman (fourth right); Ogun State Commissioner for Budget and Planning, sha Expressway.

Confab: Conferees urged to remove immunity clause Steve Uzoechi

leum subsector contributing about 90 percent to her export earnings amongst others. He said despite the challenges facing the country, it has recorded enormous strides, expressing optimism that there would not only be a quantum of economic leap from unraveling the potentials of the country, but also a comprehensive harnessing of its endowments. The President spoke

from criminal prosecution. In a statement signed by President of the group, Dr. Jude Ohanele, and made available to New Telegraph, SEGON urged delegates to the conference to use the opportunity to, once and for all, tackle the issue of corruption which has so far stopped the country from attaining its desired height among the comity of nations. The group also advocated the institutionalisation of a regime of open budget in the management of public resources as a first step towards fighting corruption.

Mrs. Oluwande Muoyo (fourth left), guest lecturer, Dr. Ayo Teriba (third left); commissioners for Budget and Planning from All Progressives Congress (APC)-controlled states at the PGF’s Policy Design Session on unemployment held in Abeokuta… yesterday.

APPOINTMENT New Anambra governor hits the ground running, make new appointments Uwakwe Abugu Awka

nambra State Governor, Willy Obiano, has named a Harvard University don, Prof. Joseph Asike, as his new chief of staff, retaining Mr. Oseloka Obaze, who served his predecessor as secretary to the state government (SSG) on that position. The governor also yesterday met with the leadership of the state House

Obiano appoints Harvard professor Chief of Staff, retains Obi’s SSG of Assembly led by Hon. Chinwe Nwebili, behind closed doors at the Government House. Obiano, according to our sources, was billed to visit the lawmakers at the House of Assembly but the arrangement was later changed and they had to move to the Government House for the meeting. There was no clue as to what transpired at the meeting as at the time of filing this report. Performing his first official duty at the Government House, Awka, Gov-

ernor Obiano announced Mr. Willy Nwokoye, as his principal secretary. Nwokoye before his new appointment was a banker. The appointments were followed with a brief ceremony during which oaths of allegiance and oaths of office were administered on the three appointees by the Solicitor-General of the State, Mrs. Tina EmekeEkwue, at the Government House. Observers see the first move by the governor as seeming tacit statement

that, as he promised on Monday, he will be business-minded in running his government, especially with the calibre of personal staff picked for the tasks ahead. By retaining the former SSG, one source said yesterday that “it could mean Obiano will not be in a haste to make s clean break from his predecessor's policies, at least, by retaining Obaze, he will not have any problem fathoming what exists in files and other government documents.”

NEWS

Sanctity of Truth

Wednesday, March 19, 2014

ELECTIONS

Governorship elections in Osun and Ekiti states may suffer setback Wale Elegbede

he leadership of Fresh Democratic Party has vowed to legally halt the conduct of the gubernatorial elections in Ekiti and Osun States except the Independent National Electoral Commission (INEC) recognises it as a political party. This development came even as the status of the party continues to generate ripples in political circles across the country. Addressing newsmen on Tuesday at the party's office in Lagos, the Na-

Okotie's Fresh Party vows to stop Ekiti, Osun elections tional Legal Adviser of the party, Kola Dopamu, noted that INEC's flagrant disregard for the judgement of the Federal High Court, Abuja that invalidated its deregistration, is a calculated attempt to disenfranchise millions of its members. INEC had on December 6, 2012, deregistered Fresh Democratic Party and some 27 other political parties, citing enabling provisions from the 1999 Constitution and the Electoral Act 2010 (as Amended). Fresh Party, which has the Presiding Pastor of the Household of God Church, Rev. Chris Oko-

tie, as its founder, engaged INEC in a legal battle and subsequently got a judgement delivered by Justice Gabriel Kolawole on July 29, 2013, in its favour. According to Dopamu, all efforts by the party’s leadership to seek audience with INEC to revert and recognise the party have proved abortive. “INEC decided to appeal and made a half effort at that. They filed the Notice of Appeal and abandoned it. It took INEC about five months after the judgement to file this ill-fated appeal. After this, they went to sleep. As we speak now, the said appeal

is otiose and dead. The judgement stands. “Now, the Osun and Ekiti States elections are approaching. Thousands of our supporters in these states are itching and eager to participate. “We have been advised by our lawyer, Chief Fred Agbaje, and we will take legal means to stop the conduct of elections in Ekiti and Osun, including the federal election if INEC fails to comply with the judgement and restore our name and logo on its ballot paper. No Fresh Party, no election,” he said. While denying that it approached INEC to recog-

L-R: Lagos State Commissioner for Waterfront and Infrastructure,, Prince Adesegun Oniru; Deputy Governor, Ajoke Orelope-Adefulire; Governor Babatunde Fashola (SAN) and Commissioner for Environment, Mr. Tunji Bello, during the 6th Cilmate Change Summit held at Eko Hotel, Victoria Island, Lagos…yesterday PHOTO:SULEIMAN HUSAINI

93m

The number of active mobile-broadband subscriptions in Africa in 2013 Source:Itu.int

25.77%

The population percentage of SouthCentral Asia to the world’s population. Source:Itu.int

1/3

The fraction of the world’s population that is infected with Tuberculosis (TB) bacteria (only a small proportion of those infected will become sick with TB). Source:Who.int

APC announces timetable for congresses, to hold Convention May 24 Julius Toba Abuja

he All Progressives Congress (APC) yesterday unveiled timetable for its congresses and national convention. The party announced the dates yesterday in a communiqué issued after a nine-hour meeting of its 9th Interim National Exec-

utive Committee meeting held in Abuja. It said the Ward Congresses will hold on 5th of April, while Local Government Congress will take place on the 12th of April, 2014. The interim NEC also agreed to hold State Congresses on the 23rd of April and National Convention on the 24th of May, 2014.

APC had initially scheduled 15th of March 2015 for the commencement of its ward congresses across the country, and 12th April for the national convention. Those at yesterday's meeting include Chief Bisi Akande, Governors Rochas Okorocha of Imo State, Rotimi Amaechi of Rivers State and Dr. Kayode Fayemi of Ekiti State. National

leaders of the party were also present in the person of Asiwaju Bola Tinubu, General Mohammed Buhari, Senator Alli Modu Sheriif, Chief Ogbonnoya Onu, former Vice President Atiku Abubakar, Chief Olusegun Osoba, Senator Bukola Saraki, Senator Goje and other members of National Interim Executive of the party.

nise it as a political party on the interim, pending when the appeal will be sorted out, the party noted that it will always seek to settle disputes on grounds of justice rather than by force.

When contacted, Kayode Idowu, the Chief Press Secretary to INEC Chairman, Prof. Attahiru Jega, said he cannot comment on the issue until he has adequate information.

Navy arrests 22 Chinese, 4 ships for illegal entry ARREST

Four ships, 22 suspects arrested for breaching international maritime laws

he Nigerian Navy has arrested four ships and 22 people suspected to be Chinese, who allegedly entered Nigeria’s territorial waters illegally. Commander of the Nigeria Navy Ship, NNS Pathfinder, Commodore Godwin Ochai, who announced the arrests, said the vessels were carrying large tonnes of fish. He named the vessels as Liadda Zhong Yu 15177, Liadda Zhong Yu 15178, Liao Zhung Yu 15030 and Liao Zhung Yu 15029. Ochai spoke while handing over the 22 suspected illegal immigrants in Onne, Rivers State, on Tuesday to the Nigeria Immigration Service and the State Department of Fisheries for further investigation. He said the suspects

breached international maritime laws and procedure by fishing in Nigeria’s territorial waters without permit. “As part of the Chief of Naval Staff, Vice-Admiral Usman Jubrin’s determination to fight maritime crime, one of our ships, NNS Burutu, arrested four foreign ships on our waters on March 14. “When our troops went on board the alien ships, they discovered that the four vessels had no immigration documents, neither did the 22 crew members have passports. “Similarly, on probing further, we discovered that the suspects did not have any form of permit to engage in fishing activities in the nation’s territorial waters. “The Nigerian Navy with statutory responsibility to provide maritime security in the country, will continue to go after both foreign and domestic threats capable of undermining the nation’s security and economy.

Imo to demolish structures on designated open spaces Steve Uzoechi OWERRI

he Imo state government has declared its resolve to demolish buildings and other structures erected in areas designated as open spaces in the state. State Commissioner for Lands, Survey and Urban Development, Chief Uche Nwosu, made the declaration yesterday in Owerri, the Imo state capital, during an interactive session with newsmen.

According to Nwosu, many speculators have erected structures in areas that clearly assault the eyes and sensibility of government and decent residents. He said; “There are lots of areas in the Owerri City Masterplan designated as open spaces in line with global best practices, but we have a situation where some unscrupulous elements have defied government directives to build structures in such areas."

metr

Wednesday,March 19, 2014

NEW TELEGRAPH

Wom ABIODUN BELLO FEATURES Editor

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I have a spiritual father in Nigeria – Kenyan drug courier DRUG ON THE ALTAR

32-year-old Kenyan lady has been arrested with 2.560kg of substance which tested positive for heroin. The suspect, identified as Imeloah Awino Noah, was arrested by officials of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed International Airport (MMIA), Lagos. Noah told anti-narcotic agents that she loved coming to Nigeria to receive “blessing” from her spiritual father. The spiritual father (names withheld), is a popular but controversial cleric. The suspect also claimed that her Nigerian girlfriend compelled her to become a drug courier. Noah, who left Bujumbura, Burundi under the pretext of going on pilgrimage to Nigeria, hid the drug inside the soles of two pairs of female sandals and in a false bottom of her luggage. She said: “My best friend masterminded my involvement in drug trafficking. I am a diploma holder in Community Health and Development at the African Institute of Development Studies in Western Kenyan town of Kisumu, Nyanza Province. “After my one year volunteer service, I have been searching for employment. My best friend introduced me to her Nigerian boyfriend who offered to assist me by sponsoring my trip to Ni-

geria. Initially I was reluctant but my friend persuaded me. They bought my ticket and gave me the bag containing clothes where the heroin was hidden. On arrival at the Lagos airport, the drug was detected.” The Head, Public Affairs of the NDLEA, Mr Mitchell Ofoyeju, who confirmed the arrest, explained that the seizure took place during inward screening of passengers on an Ethiopian Airline flight from Addis Ababa. According to him, preliminary investigation revealed that the suspect planned to smuggle the drugs into the country under the pretext of pilgrimage. He said: “This is her third visit to Nigeria in two years. It was also gathered that she left Nairobi, Kenya to Bujumbura where she collected the luggage containing the drugs before proceeding to Nigeria through Addis Ababa.” Ofoyeju said the suspect would soon be arraigned. The NDLEA Airport Commander, Mr Hamza Umar, said that Noah was already cooperating with the agency’s investigating team. Meanwhile, the Chairman/ Chief Executive of the NDLEA, Ahmadu Giade, has called on the public not to be ignorant of the devices of drug trafficking syndicates. He said: “Drug barons sometimes present themselves as philanthropists. They will offer you free tickets and make all travel arrangements but the ultimate objective is to get you to smuggle their drugs from one point to another. “Members of the public should be on the alert and report suspected drug barons to the agency.”

Noah

Where the drug was concealed

A Kenyan drug suspect, in NDLEA’s custody, says her spiritual father is a popular cleric in Nigeria Juliana Francis

Wednesday, M

www.newtelegraphonline.com/metro

CHILD ABUS A 27-year-ol dehumanise traumatises old girl for be

Juliana Franc

or bed-we old girl, F has been harrowing e hands of her The aunt, Amodu, now was said to girl to coma, to inflict bodi body, bit her ointment in h The suspe

Imo p

Steve Uzoechi Owerri

I Some of the teenagers

Baby factory: We need money, say pregnant teenagers THOU SHALL PROCREATE Some young girls, rescued from baby factory, say they love to procreate for money Tony Anichebe Uyo

ome pregnant girls, rescued from a baby factory in Akwa Ibom State, said they were enticed by money they would be paid after delivery. The girls, mostly teenagers, were discovered at a baby factory at NEPA Line, Ikot Ekpene. The Police Commissioner, Umar Gwadebe, who briefed journalists in Uyo yesterday, paraded seven pregnant young girls and five other suspects arrested in connec-

tion with the offence. Gwadebe said the arrests were made following a tip off that one Ima Thompson Akpan and a woman popularly called Mma Nurse, now at large, were operating illegal baby factory for commercial procreation. He said: “The expectant mothers, Ikwo Johnson Ofuo and Joy Mercy John, confessed that what enticed them to the business is that on delivery, a male child is sold for N400,000 while a female child goes for N350,000.” During an interview with journalists, the suspects, ranging from 15 to 25 years old, admitted to falling for the money promised them after delivery. The pregnant girls in police include Udeme Mfon George (25), Joy Michael (18), Blessing Jonah Udoka (20)

and Ikwo Johnson Ufuo (19). Others are Godslove Dominic Johnson (18), Uduak Effiong Okon (15) and Ukeme Okon Etim (18). Incidentally, Etim delivered a baby boy in police clinic on the day she was arrested. In the same vein, one Ima Obong Okon Effiong is presently explaining to the police how she connived with her younger sister, Uduak Okon Effiong to handover one Master Jessie Benson, left in their care, to a traditional birth attendant, identified as Mrs Christian Etim Okon, to sell off to child traffickers. The quick intervention of the police, according to Gwadebe, led to the recovery of the child who has been reunited with his biological mother, Mrs Doreen Benson Temple.

mo State Go threatened to ings and other ed in areas des spaces. The Commis Survey and Urb Chief Uche Nw warning yesterd state capital, du tive session wit According t people have ere

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Muritala Ayinl

oncerned boat mish communi State, the lawm ing Lagos Eas trict, Senator has distribute the residents and Ikorodu W development a The benefi commercial b the coastal com The lawma ered youths an in the commu only way out o in Nigerian wa less privileged Distributin Ashafa said

Presidency plotted my impeachment –Nyako / PAGE 41 | Unending probe of MDAs / PAGE 43

POLITICS

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ayodele Ojo

Deputy Editor, politics

Senate’ll subject confab report to legislative process –Ndoma-Egba

ayodele.ojo@newtelegraphonline.com

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p-14-15

WEDNESday March 19, 2014

Insurgency:

POLITICAL NOTES

Tambuwal’s lamentation T he recent murder of 59 students of Federal Government College, Buni Yadi, Yobe State has once again raised concern over the heinous activities of the Boko Haram sect, which has continued to portrayed Nigeria as a nation at war with her people. Coming on the heels of relentless attacks on defenceless citizens and even members of the armed forces in the north eastern part of the country, the killings have sparked off outrage across the country with many calling for more drastic measures against the terrorists. To some stakeholders, the Boko Haram menace, which has halted social and economic activities in the three most affected states of Yobe, Adamawa and Borno, if not tackled headlong now, could further plunge the entire country into untold disaster. Founder of the Oodua Peoples Congress (OPC), Dr. Fredrick Fasehun, for instance believes that it is high time the Federal Government used maximum force against the insurgents. Fasehun, who told New Telegraph that he was among those who advocated for dialogue as way out of the crisis in the past, said Nigeria cannot watch the terrorists destroy her future. His words: “About three years ago, I was one of those who said we should dialogue with the insurgents, but the more we preach dialogue, the more we lose our children and women to the insur-

Rising killings by the Boko Haram sect has heightened the debate over measures adopted by the Federal Government in tackling the insurgency in the North East. In this report, FELIX NWANERI x-rays the proposal by the Speaker, House of Representatives, Hon. Aminu Tambuwal on the development, which portends great threat to Nigeria’s peace and stability.

Tambuwal

gents. So, for how long should we keep losing innocent Nigerians? The future of any country is a function of its youths and we are folding our hands, looking at our children being slaughtered every day. We are compromising our future.” Insisting that Nigeria is in a state of war, the OPC leader called for the military to take charge of affairs in the three states under emergency rule, saying: “When that is done, Boko Haram will fizzle out within weeks.”

Speaker of the House of Representatives, Aminu Tambuwal, who is on the same page with Fasehun’s line of argument, ave r re d that it has become cl e a r that the agents of terror have murdered sleep and they henceforth deserve none.

CROSSFIRE We are blessed with a learned Chairman (Justice IdrisKutigi) with impeccable integrity and we have a Vice Chairman (Prof. Bolaji Akinyemi) with intellect and integrity. So, let us confound all the critics –Atedo Peterside

If these are the kinds of characters that we put as numbers one and two, you can see clearly that there is no hope to a fair representative national confab and everything is being pre- determined -Junaid Mohammed

Tambuwal, in a speech at a special session of the House on March 11, to remember students and other Nigerians killed through terrorism, insisted that there can be no reason or justification for the mindless brutality by the Boko Haram sect, adding that whatever message the terrorists set out to send to the Nigerian government has been drowned out by the cries for justice by the blood of the innocent martyrs. The emotion laden speech titled: “One massacre too many,” read in part: “On February 25, 2014, the very day the House adjourned plenary, Nigeria suffered a horrendous terrorist attack that struck a fatal blow at the heart and soul of the Nigerian nation and desecrated values that decent people of all nations hold dear. On that night, about 59 students of Federal Government CONTINUED ON PAGE 42

Bakare’s noble gesture

residing Pastor of the Latter Rain Assembly, Tunde Bakare at the start of the National Conference told Nigerians that he will not partake of the N12 million to be paid to each of the 492 delegates during the three-month event. Bakare, representing Ogun State at the conference, said he made the decision not to collect the money in order to dispel any speculation that his motivation for accepting to take part in the conference was for material gains. Bakare went further to promise his congregation that he would be giving them weekly report as the conference progressed. Indeed, the noble gesture by the cleric should be commended, as it shows that he is offering to serve the nation for love of country, and not for pecuniary gains. However, one wonders how many of the other 491 delegates can afford to do the same, even when there are a lot of prominent individuals on the conference’s list who own houses in Abuja. Should the Federal Government pay them to stay in their houses or is it that they feel the stipend is their share of the national cake, a piece of which every Nigerian seems to be unashamedly chasing after, throwing decency to the wind. As much as it is accepted that they have every right to receive compensation for the service they are offering, it also tells a lot if those who can afford to, also sacrifice the stipend. At least that way, he who is not paying the piper cannot dictate the tune.

Bakare

14 INTERVIEW

Sanctity of Truth

Wednesday, March 19, 2014

Senateâ&#x20AC;&#x2122;ll subject confab report to Victor Ndoma-Egba is a Senior Advocate of Nigeria (SAN) and Senate Majority Leader. In this interview with EMMANUEL ONANI in Abuja, he bares his mind on the National Conference, the controversial Petroleum Industry Bill (PIB), constitutional amendment and other issues of national concern. Excerpts:

Is there any known legal instrument upon which the conference is built? There is no legal instrument and that is why I started by saying that it is an executive intervention. Maybe, it is the output of the conference, the recommendations of the conference that will now be referred to us. I said maybe because it is at the discretion of the principal, the person who sets up the conference, but I will be categorical here that we believe that the conference at this point in time, is very necessary for Nigerians to discuss Nigeria. Will the National Assembly summon the needed courage to implement the recommendations of the National Conference, given that some of the positions may go against some decisions it had taken in the past? The National Assembly has not taken any position. We will look at issues the way they come. Like I said before, the National Assembly supports the conference. We believe that Nigerians should take advantage of every opportunity to discuss Nigeria. And we will as much as possible if, and that is conditional, the report is sent to us. If the report is not sent to us, we cannot be busy bodies, going around discussing the report of a panel set up by another arm of government. If the report is given to us, we will give legislative effect to it. We will subject it to normal or established legislative process because we cannot deal with the report outside our established legislative process and I cannot predict the outcome because it is not the Bible, it is not the Quran. So, we will still subject it to the normal legislative process.

Ndoma-Egba

Considering the fact that the 1999 Constitution recognises the National Assembly as the only law-making institution, what will be the fate of the recommendations expected from the National Conference? The confab is essentially an executive initiative. It is the initiative of Mr. President and I believe that he responded to the clamour for Nigerians to talk about Nigeria; our past, our present and our future. If you recall at the time of the clamour, there were those who insisted that the confab should be a Sovereign National Conference (SNC) and people like me asked questions. First, if we were to make such a conference sovereign, what were the attributes that will make the conference sovereign? Two, where would you be deriving that sovereignty from? Because the constitution that we have today, in spite of its imperfections, is a reality; it is the constitution of the Federal Republic of Nigeria. People have questioned its origin, saying we, the people never produced the constitution and I have a simple answer to that. I concede that we, the people never took part in producing that constitution

conference. So, it is not correct that the National Assembly does not support the conference.

but we have ratified it by conduct, because elections have been held under that imperfect constitution and we have accepted the results. The governors, the senators and the president, were elected under the imperfect constitution and they have continued to do their constitutional duties and were accepted. The judiciary created under that imperfect constitution has been giving judgements and we are obeying all the powers and institutions. So, we have ratified the constitution. We have gone past that point of complaining about the constitution. That imperfect constitution is the source of our sovereignty. Yes, sovereignty derives from the people, but it must be expressed somewhere and it is expressed in the

We have Constitution Review to put behind us and we have possibly, the outcome of the conference to put behind us

constitution. So, this other sovereignty for the conference, where will it come from? I believe that it was those constitutional constraints that led to the conference in the manner we have it now. But, it wouldnâ&#x20AC;&#x2122;t have been essentially an executive initiative. So, at the end of the day, the conference will report to its principal, that is Mr. President and he will decide the next step. If he decides to send it to the National Assembly, fine and good, we will look at it based on its merit. The National Assembly supports the conference and every legitimate opportunity for the Nigerian people to discuss Nigeria and her future. And, we recognise that the right to aggregate, the right to assemble, the right to speak, are all constitutional rights and these are all constitutionally guaranteed rights. In fact, I remember representing the Senate President at the Nigerian Bar Association Conference last August in Calabar and the Senate President was very categorical that this National Assembly will support and continue to support every forum for Nigerians to discuss Nigeria. So, we will support the

Less than a year from now, the 7th National Assembly would wind up legislative business. How feasible is it that the legislature will conclude debate on the Petroleum Industry Bill (PIB), Amendment to the Electoral Act and the Constitution ammendment? Well, as you mentioned, we have quite a number of issues to contend with. One of the big ones that you forgot to mention is even the 2014 budget. We have the budget to put behind us, we have PIB to put behind us, we have Electoral Act to put behind us, we have Constitution Review to put behind us and we have possibly, the outcome of the conference to put behind us. One thing I have noticed here is that we, at each time rise to the occasion. I remember our sitting time is 10a.m. to 2p.m. but I remember several instances when we had to sit beyond 2p.m.I have been in a plenary that ended at 8p.m.I have been in a committee meeting that ended at 4a.m. the next day. So, when we need to do it, we will have to do it. Is it true that you want to contest the Cross

INTERVIEW

Sanctity of Truth

Wednesday, March 19, 2014

legislative process –Ndoma-Egba River State governorship in 2015? I am from the Central Senatorial District like the incumbent governor. Except you want to adopt me as a son of the Cross River North, having grown up in Ogoja. But I am sure you prefer a free born than an adopted son to run. I come from the same zone with the governor and I believe in equity in every aspect of life including politics. So, I have always been an advocate that the governorship, having been in the South and now in the Central, should go to the North. I have been an ardent supporter of that position. I thank God that the PDP caucus in the state has come out categorically to say look, the governorship is going North. I have never contemplated the governorship; it was never part of my agenda. You were quoted as saying that if you don’t return as senator representing Cross River Central, that the district will suffer. How true is this? Those who know me well, know that that is not my manner of speaking. It is only a very boastful person that can make that kind of comment but by my own estimation, I am not a boastful person. I didn’t say so. I say here categorically that I never made such statement, I never did. What is your relationship with the governor, Senator Liyel Imoke? Like the story purporting that I said if I don’t come to the Senate, Cross River would suffer, it is a fiction. It is a fiction that has been repeated again and again that people are now beginning to believe themselves. And it is a fiction propagated by people who believe that the synergy between the governor and I will not serve their own interests. First, my relationship with Governor Liyel Imoke is not political. I must make that point very clear, that it is a relationship that started with our parents and we just inherited it. It has nothing to do with politics. And I am in touch with him and we discuss as often as we need to discuss. There are people who prefer to imagine that things are not well. I can only wish them luck and sympathise with them and tell them that their hopes and aspirations will crash and crumble if they have any political plans. They should find another strategy for propagating those plans. Now, when they talk about aspirants or candidates, do we have aspirants yet? We don’t. How a candidate emerges is through a process, it must follow a process. Now, supposing I want somebody to be my candidate for the governorship and at the end of the day, they say for the person to be a formal aspirant, he needs to collect the form for N20 million and he comes to me and says he doesn’t have the money and so I should cough out the money and I don’t have it, is that not the end of his aspiration? So, anybody who thinks that whatever they are imagining has to do with a crack, we haven’t reached that point.

If the report is given to us, we will give legislative effect to it. We will subject it to normal or established legislative process because we cannot deal with the report outside our established legislative process and I cannot predict the outcome I want to assure you that there is absolutely no problem in my relationship with my governor and if you ask him, he will tell you the same thing. Do you intend to return to the Senate come 2015? The legislature is totally different from the executive or the judiciary. If you become president today, you will have an elaborate bureaucracy that will just key you into government. I became a commissioner at a very young age and because of the effectiveness of the bureaucracy at the time, I wasn’t lost. When you are living especially in a constitutional arrangement, you know when you came in and you know when you must go and you prepare handing over notes. There is a handing over ceremony. If you go to the judiciary, the judiciary has what you call the hierarchy of courts. If you lose a case in the Customary Court, you appeal to the Magistrate Court, you appeal to High Court and Court of Appeal to Supreme Court. Whatever the Supreme Court pronounces on a specific legal issue is binding on all the courts. We call that judicial precedent; there is a precedent on an issue, so it is binding. Two, the judiciary perhaps has the most sophis-

Ndoma-Egba

ticated archives around. And that is why if you are looking a judgement between Kakwagong and Bawo, given in 1892, you will find the judgement because of how their records are kept and in these days of law reports and all of those things, it is even better documented. I need to take time to explain this so that you will understand why the legislature is different. We are 109 senators and 360 members of the House of Representatives. Each of these members of the House of Representatives and senators are equal and for want of proper words, they are sovereigns. Here, everybody is an island unto himself. If I come to my office, I do whatever I want to do, I go to plenary, I say what I want to say and cannot be arrested for what I said on the floor. The way the legislature works, you create your own network of friends and your own ways of doing your work. So, the records you accumulate are personal to you. The day I am leaving here, I clear my office of my records, I clear my office of my staff, I clear my office of what I remember and I clear my office of everything, my network and I go. I don’t meet the person taking over from me; there is nothing called handing over note. So what now constitutes the experience of the National Assembly? I believe it is the experience of every member and when you now put it together, that constitutes the institutional memory of this place. So, the legislature, unlike the executive and the judiciary depends on the individual memory. And that is why in the United States, late Senator Robert Byrd was in the Senate for 54 unbroken years. He came from the State Senate to Congress before the Senate. They are not adding those years. We have other senator in the US that was in the Senate for 52 years retired at the age of 100 and died at the age of 101. Kenedy was in the Senate for an unbroken 48 years, the present Vice

President of the US, Joe Biden entered the Senate the year I was writing school certificate, 1972. Senator McCain was in the Senate the year I entered secondary school, 1968 and he is still there. That is what constitutes their institutional memory, I do not hope to stay one-third of that length. I don’t hope to. Of the three arms of government, the one that symbolises our democracy is the National Assembly but it is the weakest, because in the 30 years that we had military rule, you had no National Assembly. So, we didn’t exist, we have no experience and we didn’t grow. Since 1999, we have only two senators who have been here since then – Senators David Mark and Gwarzo, the Chief Whip. Now, in the US Senate, for you to be chairman, Committee on Rules and Business, you must have spent an unbroken 26 years. So, if you combine the most experience senators in Nigeria – Mark and Gwarzo, they barely qualify, both of them together to be chairman, Rules and Business. So, it is about the institution and then you take the turnover rate. Like I said, from 1999 till now, everybody is gone, only two left. If you check those who came with me in 2003, we are only six left. And so all that memory is gone and then, when you now add the fact that our work is not just municipal, it is not only limited to Nigeria, you have ECOWAS Parliament, you have Pan African Parliament, you have the IPU, you have the CPU. These are all regional and global parliamentary bodies that have very critical regional roles to place. For example, take an issue like small arms confronting the ECOWAS sub-region. You will deal with it at the level of ECOWAS Heads of State, you will also deal with it at the level of ECOWAS Parliament and these are very technical areas before you now bring it to the Municipal Parliament but the moment you lose your seat here, you also lose your seat in the ECOWAS Parliament. So, in all those regional or continental bodies, Nigeria’s position is eroded by the high turnover rate. That is the problem. So, if you say why don’t I groom somebody, is it for him to be following me to the floor? First, they won’t allow him access because he is not a senator. This place, when you come, you are totally on your own. So, the question of grooming somebody does not arise. When it’s my turn to go and I go any person who comes will find his way. What is your take on the ceding of Bakassi peninsula to Cameroun? You remember how Senator EwaHenshaw and I fought that Bakassi issue. Even last year here, we again brought it to the fore, insisting that Nigeria should appeal. If they had no voice, government wouldn’t have listened but we put the debate in the public domain a long time. I am not giving to talking about myself, I feel very shy when I have to talk about myself but one thing I don’t shy away from is saying what should be said.

16 POLITICS

Sanctity of Truth

Wednesday, March 19, 2014

Budget: Wading through envelope system CHUKWU DAVID examines the envelope budget system and the role of the National Assembly in the practice.

he National Assembly has three core functions to carry out. These are legislation, oversight and representation. In carrying out its legislative functions, the apex law-making body is required and empowered by the 1999 Constitution of the Federal Republic of Nigeria (as amended) to make laws for the good governance of Nigeria and Nigerians. To carry out these functions more conveniently and effectively, the Assembly is further empowered to establish committees of its members for more detailed work on whatever legislation, investigation or oversight on issues that it already discussed at plenary. Since the restoration of democratic governance in Nigeria in 1999, the National Assembly has consistently told the world that its most important legislative function is appropriation, which is budgeting. After the President presents the national budget to the federal legislature, it is the duty of the two chambers – the Senate and the House of Representatives – to scrutinize the content of the document to ensure that it meets the needs and aspirations of the citizens, who entrusted them with their mandate to represent their interests in the affairs of government at the centre. Amongst all issues that cause misunderstanding between the executive and the National Assembly since the latter came into being about 15 years ago, is the issue of budgeting and its implementation. Ideally, since governance is a collective responsibility of the three arms and the citizens, the legislature and the executive, which make and implement the laws respectively are supposed to be collectively and inclusively involved in budgeting process. Although it can be claimed that the National Assembly is involved in the process in the sense that it tinkers with whatever proposals the executive brings to it as well as supervises or oversights its implementation, but the current envelope budgeting system tends to defeat the effective participation of the Assembly in the process. In detail, the system involves a designated official who is expected to account for all expenditures in respect of both capital and recurrent appropriations since the envelope system requires that the Ministries, Departments and Agencies (MDAs) adopt the estimates given in sealed envelope to the Ministry of Finance by the Budget Office. In 2013, members of the House of Representatives had damned the implementation of the ‘Envelope Template’ for budget preparation for MDAs with

Mark

no due consideration of individual peculiarity of the establishments. This followed the condemnation of the envelope system adopted by the various House committees engaging MDAs on the 2012 budget defence and 2013 budget presentation. Consequently, the committees of the House last year, in their separate remarks, said the system was not in the interest of the nation. They all rejected the system, saying that they would address the issue unfailingly with the 2013 budget. The Chairman, House Committee on Human Rights, Rep. Beni Lar, during the budget defence of the National Human Rights Commission (NHRC), in 2013, moved against the absence of MDAs in budget preparations as a result of the envelope method. Lar said: “This envelope system is not doing this nation any good; it is setting us back. It is our opinion that we have to find new ways of helping this country. One can imagine that in a country that is short on infrastructural development, the Ministry of Finance and the Budget Office would not find it expedient to have the input of the MDAs that actually know what they needed before being given whatever they feel. “It is disheartening to hear from agencies that they have no input in the final budget proposal sent to the National Assembly by Mr. President.” This envelope sealing approach by the Federal Ministry of Finance and the Budget Office has been causing a lot disagreement between the National Assembly and the Executive in the past few years, because apart from the fact that it is undemocratic, it frustrates the imperativeness of giving priority financial attention to various deserving sectors of the economy.

Okonjo-Iweala

It is disheartening to hear from agencies that they have no input in the final budget proposal sent to the National Assembly by Mr. President Consequently, the Senate on its part, had moved to reduce the power and role of the Ministry of Finance in budgeting process. Senator Olubunmi Adetunmbi, who was highly agitated by this undemocratic budgeting process, had moved a motion, seeking to make budget preparation a joint responsibility of the Budget Office and the National Planning Commission. The lawmaker argued that the current annual incremental envelope-based budgeting being used by the Ministry of Finance was arbitrary and inimical to economic growth and development. He called for a review of the country’s budgeting process and that the National Planning Commission should be involved in the budgeting process to whittle down the unbecoming influence of the Ministry of Finance. Adetunmbi also noted that the ongoing national budgeting process had made the legislature less involved and at best reactive. Many Senators supported the motion. The President of the Senate, David Mark, in his observation, said that other government agencies had usurped the role of the National Planning Commission. As a result of these observations and in order to tackle the problem, the Senate mandated its Committee on National Planning and Finance to review the current national planning and budgeting linkage and recommend amendment to the relevant laws. In spite of these observations and efforts by the National Assembly towards adjusting the defective budgeting process in the country in the previous years,

the situation has not changed. In the 2014 budget defence, which is still on-going at the National Assembly, the MDAs coming to defend their 2013 budget implementation and 2014 allocations in the Senate, have complained of inadequacy of funding, both in the previous budgets and the current one. Virtually all of them lamented the downward trend in their annual budgets, including the Ministry of Petroleum Resources that could be regarded as the goose that is laying the golden egg, upon which all the strata of the polity rely on for financial survival. Most of them faulted the envelop system, which has become a tradition in the nation’s budgeting process; a situation whereby the Budget Office allocates whatever it deems feat for the various MDAs, irrespective of the actual financial need of the individual establishments. Apart from the problem of inadequate sectoral allocations occasioned by the envelope system, another major problem that the MDAs complain about is poor releases of funds by the Ministry of Finance. According to almost all of them, most times, it is either that the money appropriated is not released or when released, there is no cash-backing. This, the budget implementing agencies frowned at, saying that the arrangement defeats the whole essence of budget implementation as specified in the Appropriation Act of each financial year. Although the National Assembly had made reasonable attempt in principle, by at least speaking against this practice, it has a responsibility to persist until the executive reverses the practice and allows for a budgeting process that would be participatory; realistic, implementable and people oriented both in content and implementation. Until this is done, Nigeria’s annual budget will be a mere ritual that will never yield positive results to the country’s development agenda, especially with respect to vision 20:2020.

POLITICS 17

Sanctity of Truth

Wednesday, March 19, 2014

n the past few months, Nigerian President, Goodluck Jonathan has embarked on a Church visitation exercise some have now humorously christened ‘Church tourism.’ It started with a trip to Jerusalem, the Holy Land. Nineteen governors, as well as some serving ministers and key government functionaries including the ever voluble President of the Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor accompanied the Nigerian President on a pilgrimage of sorts to Israel on what could be termed a spiritual sojourn of discovery. At the end of the spiritual odyssey, hands were laid on the President and prayers offered for his success. Perhaps still energized by the spiritual rebirth he experienced after the trip bankrolled by public funds, the president embarked on a church voyage with the usual array of top government functionaries and spiritual leaders in tow. In the last few months, the President has visited over six Churches and still counting. The Dunamis church has played host to the new found love of the number one citizen who worshipped there a few weeks ago. The Redeemed Christian Church of God (RCCG), Living Faith Church and the Apostolic Church, Utako including some notable churches in Lagos have also opened their doors to the President who has more or less used their hallowed pulpit to advocate what many have tagged, ‘the political patronage of the average church goer.’ The Nigerian Constitution clearly grants the President freedom of association, religious affiliation and worship. But it must be noted firmly that he also holds a unique position as an embodiment of the ethno-religious diversities of over 160 million Nigerians. Therefore, President Jonathan should pursue his religious belief mindful of his status so that he’s not seen as politicising religion or religionizing politics or further polarising an already fractured nation dangerously along ethno-religious cleavages. The President has been criticized severely in the past for being a master at playing the ethnic and religious card whenever it suits him best politically. His recent visits to churches filled with Nigerians who more or less share his religious beliefs, while harmless on the surface, undoubtedly gives credence to this school of thought. Given the vehement defense by the President’s handlers, Nigerians are to expect more of such visits in coming weeks as Jonathan has vowed to worship at least once every month at churches outside the presidential chapel. By using the intimidating paraphernalia of office to sway a religious segment of the society to his side, President Jonathan has taken the manipulative exploitation of religion for partisan political gains to a level unbecoming of a statesman. This desperate deployment of faith as a tool for political eligibility or qualification for election or re-election into office is a dangerous precedent. In retrospect, the President, must be urged by well-meaning Nigerians to learn to separate the pulpit from politics even if he banks on the voting strength of the Church in his mission to succeed himself in the face of mounting opposi-

2015: Jonathan playing religious card OLUBUNMI ADETUNMBI, a development expert and senator representing Ekiti North, is the Vice Chairman, Senate Committee on Interior. He examines the church tourism President Goodluck Jonathan has embarked on ahead of the 2015 elections and its implication

L-R: Pastor (Mrs.) Folu Adeboye, General Overseer of the Redeemed Christian Church of God, Pastor E. A. Adeboye and President Goodluck Jonathan at a church service in Lagos.

tion within and outside his party. History has shown that when politics is brought into the church, or the church into politics, society is worse off in the end. The suppression and manipulation of the society by the state, through the Church and religion, dates back to medieval Britain and 20th century pre-revolution Russia where some of the worst atrocities mankind has experienced took place. A multi-ethnic and multi-religious society like ours is certainly not immune to the dangers awaiting a nation which allows power and politics to lie comfortably on the shoulders of its religious institutions. The fragility of Nigeria will be further exacerbated by heightened religious and ethnic tension which is indirectly being stirred by the President’s ‘church tourism.’ Many across religious and even political divides agree that these politicised church visits are harmful on the long run to the president’s scorecard which is dismal at best and his warped political calculations. The question must be asked: why has GEJ allowed religion to take the centre stage of his campaign rather than corruption, jobs, security, defense spending, education etc? As a political analyst puts it succinctly, church or not, issues of performance with measurable indices are what would define the next elections. Therefore, the President should refrain from using the pulpit to make policy statements of government. Like every other Nigerian, the President is free to worship in churches or mosques if he so chooses, but pulpits and sacred alters should not be platforms for partisan political statements by presidential aspirants. The president’s speeches from the pulpits of prominent churches have begun to attract disparagement

President Jonathan has taken the manipulative exploitation of religion for partisan political gains to a level unbecoming of a statesman. This desperate deployment of faith as a tool for political eligibility or qualification for election or re-election into office is a dangerous precedent from a large segment of society and sadly are perceived as a subtle campaign for votes from the altar. Many say that this is not the first time the President would play the religious card in his political voyage. In 2010, before the 2011 presidential election, he visited the RCCG to secure the votes of Christians. Two years after that presidential electioneering, he paid another widely publicized visit to Redeemed camp to give thanks to God and asked for prayers to enable him rule the country. The President has the freedom to decide his religious leaning and worship in any Christian denomination of his preference. However, Nigerians, including those of other faiths, also own the inalienable liberty to express their dissatisfaction at a situation where the nation’s Chief Security Officer and number one citizen makes sensitive political pronouncements in churches. The President needs to be called to order quickly in order to avert a potentially

divisive situation in the ever tense ethnoreligious country like Nigeria. As canvassed by no less a religious figure than President of the Catholic Bishops Conference, Ignatius Kaigama, the President needs to stop forthwith his politically motivated visits to churches and the usage of church pulpits to indirectly request for votes of Christians. Bishop Kaigama is not just a lone voice in this call. A prominent clergyman, George Ehusani puts it succinctly “I think that the current President is mixing politics with religion. He is the President of the whole Nigeria; he is not only the president of Christians. He is a Christian who is President but while a Christian is President in a country that is 50 per cent Christian and 50 per cent Muslim, you have to be careful.” For the church, it is time to take up the gauntlet against this subtle presidential onslaught on its age-long independence. It is wrong for the President to bring the soapbox into the church. I also don’t think Pastors should allow their pulpits to become public policy platforms for politicians, it contaminates the gospel. The sanctuary is a hallowed chamber and should not be debased by politics of transient power. This is a desperate bid of a Christian politician to use the church for a subtle endorsement without reference to the capacity to perform and deliver welfare to the people as Jesus Christ did by feeding the multitude, healing the sick and giving hope. The President should be encouraged and advised to rise above partisanship and religious bigotry and scale up to the status of a statesman. The burden of personal desires and the clamour for power is real and it takes the grace of God to rise above C O N T I N U E D O N PA G E 4 4

ARTS

WEDNESDAY, MARCH 19, 2014

“It is in literature that the concrete outlook of humanity receives its expression.”― Alfred North Whitehead

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LITERATURE

WBC: Port Harcourt announces week-long programme Tony Okuyueme

he Port Harcourt World Book Capital 2014 year-long programme would kick off with a week-long of activities lasting from Tuesday 22 to Saturday 26 April. The main opening ceremony would take place on Wednesday 23rd April which is UN World Book and Copyright Day. On this occasion, when Bangkok hands over to Port Harcourt, the keynote address would be delivered by Nobel Laureate Professor Wole Soyinka. Announcing this in a press conference held last week at the Freedom Park, Broad Street, Lagos, the Programme Director of the Port Harcourt World Book Capital 2014 project and the founder of the Rainbow Book Club, Mrs. Koko Kalango, said pilot programmes for Port Harcourt’s tenure as UNESCO World Book Capital 2014 have rounded up and all hands are on deck to deliver the programmes in the bid that was submitted to UNESCO. She said the pilot phase of this programme included the test run of book clubs and reading tree as well as the Walking Book in Rivers State. A book donation drive and participation in CARNIVRIV (the annual Rivers State Carnival) were part of the effort to sensitize resident of the city to the World

R-L: Mrs. Kalango and Head of Communication, PHWBC, Mr. Chinedu Amah

Book Capital project. The opening ceremonies of Port Harcourt World Book Capital 2014, she stated, would include celebrities reading to children, interactive sessions with some of Nigeria’s most important authors, performance of “Along “Came the Book”, a dance-drama directed by Award winning playwright Bikiya Graham-Douglas. “There would also be the public presentation of The Walking Book, a communal story on the Sights and Sounds of Rivers State written by children from

across the 23 Local Government Areas of the state. Finally, visitors to Port Harcourt would be treated to the warm Rivers hospitality which includes the display of a boat regatta and excursion to Songhai Farms.” A key component of the opening ceremonies is an International literature exhibition which would hold from Tuesday 22 to Thursday 24th April. Embassies and foreign missions in Nigeria, local and international book festivals, literary awards bodies, as well as key partners and stakeholders in the book chain in-

dustry are expected to participate in the three-day exhibition. Also part of the programme is Africa 39 - a project comprises the selection and celebration of 39 writers under the age of 40 who have the potential to define the literature of an area or language. ‘Africa 39’ features writers from Africa, South of the Sahara. “This is a Hay Festival initiative which it carries out with World Book Capitals - with Bogota in 2007 and Beirut in 2010.” On Books of the Month, she said 12 carefully selected books will be featured in each of the months of the year. @Based on our general theme of Possibilities, these books will be the subject of discussions on partner electronic and print platforms. A play based on each book would be staged through the year. Books for the first 6 months are: Arrow of God by Chinua Achebe for April; The Great Ponds by Elechi Amadi (May); This Child Shall be Great by Ellen Shirleaf Johnson (June); Ake by Wole Soyinka (July); Tomorrow Died Yesterday by Chimeka Garricks (August); and Purple Hibiscus by Chimamanda Adichie (September).

Scar in the Heart of Pain: Rhythms, serenity Book Title: Scars in the Heart of Pain Author: Uche Uwadinachi Publisher: Virgilis Communications Year of publication: 2009 Number of pages: 70 Reviewer: Oladipo Kehinde

cars are indelible marks ripple with pains and pangs of memory. It is a pathetic incident or situation that affects the collective consciousness with pulsation of pains. “In Heart of Pain” the poet writes: Each turn multiplies a pain/ In the closest vein/ Another aching day/ Paralyzing the waking dawn/ With a new stitch/ The feelings make the heart to sing the song of anomie. These pains are political undertone. The heart bleeds in silence, hoping for a succor when the sun shines tomorrow to wipe away the tears of sorrow. The situation is moribund. This is a collection of poem with collective consciousness. The people bear the grunt and the price of freedom is love. Love is the soothing balm for arching heart. It is the only panacea for the songs of heartbreak. Every scar tells a story which the memory

cannot forget. “In the struggle against pain” the poet writes: And this generation/ Cannot begin scavenging the scenes/ For traces of faceless littering carcasses / When history too is dead/ We can only recover fear/ There is a scar when things are not right and no one is asking a question. Collective suffering breeds chaos and anarchy. Love is the bound of our existence. There is a scar in the heart when the promises of Eldorado have become an illusion. There is scar in the heart when situation is moribund. Fear and insecurity are the harbinger of Scar in the Heart of Pain. Cascade of tears from the eyes of the masses. They are spectators in the political arena. They listen and watch as the drama unfolds. The collection of poems is in three movements namely: the curse, cure and course. The alliteration of the movements is embedded in the heart of pain. The curse is the calamity and casualty. “Selfishness is the greatest curse of the human race.” William Ewart Gladstone. When one looks at people faces, one will notice things are not just right. The cure is to live and eat and let

others do likewise. In “A world of worries” the poet lament: A world of words/ Porridge of hopeful phrases/ In several dishes of religion/ There sweetness cures no hunger/ Only an after-earth nutrient/ Forsakes us in a world of famine/ It is only love that can bring that beautiful and peaceful bliss. There will be pain and upheaval when few people are living in affluence and opulence. And the majorities are wallowing in penury and misery. The poet’s writes in “Heart against earth”: Together our souls shall stamp/ This concrete ground/ In fleet strides that beat anger; / Breaking its brick to grab concrete crops/ The river sings and dances endlessly. The poet urges us to make the best out of every situation we are facing as a nation. The poet’s opine in “The river” In its pure cleansing depth/ Reasons are regalia in blotches/ To be washed in the stream/ Our conscience thrives strongly in consciousness/ The course is the wheel of progress and togetherness. A metaphor for Happiness River. We have to forget the past and look forward to the future.

The poet depicts the serenity of nature “In Heart of ease”: The river spreads/ Like mother blanket of hen’s wing/ Around earth’s naked surface/ Huhh…its curly little waves/ Create a resonance of rhymes/ Ushering water birds to play/ Soft songs of lullaby/ The river is a means of sustenance and we visit the river. The poet also gives tribute to River Osun in Osogbo, a venerable natural spring. The deity of the river is the goddess of fertility. Her festival attracts people from far and near with a national consciousness. The poet uses river in this segment as a metaphor. In “Osun” the poet’s write: Unsoiled to any earth tie/ Flowing generously for all/ Inviting us to thread/ New earth in water/ Where our mad pains/ Will be pacified and/ Taken away/ The river connects us together as one. The river belongs to us. When pain tears the heart apart, the only thing needed is love. The soothing balm of love will heal the land of it collective experience. Love will spring from that heart of pain. Let the rain of love fall and heal the land of all its pain.

EDITORIAL

Sanctity of Truth

Wednesday, March 19, 2014

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

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

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

WEDNESday, MARCH 19, 2014

The ill-fated Immigration Service interview

nother black spot for the country was recorded on Saturday, 15th of March as over 23 youths died while attending an interview organized by the Nigeria Immigration Service (NIS). The fatalities which were recorded at some of the venues across the country, resulted mainly from stampede. That 5,000 vacancies attracted hundreds of thousands of applicants reflects the unpalatable story of Nigeria’s frightening unemployment situation and epitomises government’s planlessness. In Lagos and Abuja alone, 56,000 and 69,000 applicants respectively showed up for the job test. Thousands of others took the exercise in other state capitals. NIS allegedly raked in N6billion from the applicants as processing fee as each applicant paid N1, 000. It is very disheartening that citizens of a country can be so dehumanised in the name of creating jobs for the youths. When the NIS knows that it has job placement for about 5,000 people, why would it sell forms for over one million people? Is it not unethical and illegal to collect money from jobless youths looking for a legitimate livelihood? Should there have not been a cut-off point? Who are the beneficiaries of this annual financial scam which is outrightly illegal, criminal and immoral? This gross misconduct by the

NIS, including crowding thousands of applicants in less than safe venues and even subjecting them to flogging and teargas by overzealous policemen, is inexcusable. Those responsible for this callous treatment of Nigerian citizens must be apprehended and prosecuted, because at the heart of the whole matter is avarice. The Minister of Interior, Abba Moro, the Comptroller-General and the Board of the Immigration Service should be summarily sacked. After all, this is not the first time that such interviews have resulted in needless fatalities. In fact, such reckless interviews in all government agencies must be stopped forthwith. It is even very disrespectful that official responses to the death of the youths have been anything but sympathetic. Abba Moro was far from contrite; instead he had the audacity to blame the victims for being impatient. The PDP spokesman, Olisah Metuh, was insensitively using the tragic situation to garner political mileage for his principal. We would have expected the President, as the father of the nation, to make a nationwide broadcast commiserating with the families of the departed souls, while sanctioning erring government officials. It is unbelievable that leaders can be so devoid of the milk of human compassion. Government cannot be lip-tied, it must demonstrate beyond all

reasonable doubts that it has regard for human lives. The right to life is the most fundamental of all the rights. The death, injuries and hopelessness of this recruitment exercise is indicative of the apparent failure of governance, as well as, the cluelessness to deal with the aspirations and expectations of the people. This is more so because the shoddy arrangement for the job test happened in all the centres. The bloodbath and loss of lives in the country in recent times are too colossal that any well-meaning and right-thinking person will be glaringly displeased and alarmed. We cannot just gloss over such serious matters and allow things to continue as usual. The government can no longer give any excuse for its failure which is more noticeable now than ever before. This is the sign of a failing state. Surely, the founding fathers of modern Nigeria would never have imagined that the country would fall into this abyss of neglect. It is also very worrisome that present occupiers of political offices are more preoccupied about the 2015 general elections than seriously engaging in the business of governance, to make life better for the people, thereby bringing the dividends of democracy to the doorsteps of the populace. This is one tragedy too many and it leaves an unpleasant taste in the mouth. Hence, government must not only

act appropriately and judiciously, it must wake up to its responsibilities, after all, the 1999 Constitution of the Federal Republic of Nigeria states very unequivocally that the primary purpose of government is welfare and security of the people, and regrettably, the two are glaingly missing in our milieu, while those in government do not seem to care a hoot about these lapses. Government officials can no longer hide behind the propaganda of reeling out false figures of employment opportunities created. The NIS interview scenario nationwide is a damning rebuttal of those false claims and confirms the 2012 survey which placed youth unemployment in Nigeria at 54 percent. This is an opportunity to get real with the demands of providing an enabling environment for the horde of unemployed citizens, especially the youth. Government should be able to provide qualitative leadership for the people, it should be able to inspire hope in them and galvanize them for the attainment of lofty goals. If a government does not know where it is coming from or where it is going, it cannot be able to provide a roadmap that will help the people to actualise their potentials. Government must deal with this issue with the urgency and attention it deserves and not sweep it under the carpet as a family affair. BOLAJI TUNJI Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALA Managing Editor, North GABRIEL AKINADEWO Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board BIODUN DUROJAIYE News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

Sanctity of Truth

Wednesday, March 19, 2014

OPINION

The first World’s centenary snub

Ladi Ayodeji

he Centenary celebrations have come and gone, but almost unnoticed is the absence of all the top western leaders and those of the emerging markets in the BRICS economic power blocks, notably Brazil, Russia, India, China and South Africa. French President, Francoise Hollande, was the only First World Leader present, not even David Cameron, the British Prime Minister, whose country did the 1914 Amalgamation was present. U.S. President, Barack Obama continued his insult of this country by sending a lowly official, State Counselor to represent his country. If Obama was too busy to attend, where was Vice President Joe Biden, Foreign Secretary John Kerry, National Security Adviser, Susan Rice or the Chairman of Joint Chiefs Mike Mullen? For a nation, a centenary comes once, like a child’s first birthday; so nobody should fault President Jonathan for rolling out the drums to celebrate it with pomp. But for the dysfunctional state of our beloved country, accentuated by institutional corruption with impunity, our very important guest-Presidents, Diplomats, heads of Missions, would have been over-awed by a well-developed, affluent modern state. What is in evidence is a rotten, badly run down country sliding down the road to Somalia. A part of the

country is virtually demarcated by the lawless Islamist Boko Haram insurgents whom someone has whimsically labeled “rebels without a cause”. Thus, there is little to showcase to the world except chaotic cities defaced by urban blight. Visitors to Nigeria receive their first culture shock at our airports where nothing works; power outages paralyse everything from the public address system, luggage conveyor belt, to illmaintained air-conditioners, God help you if you are pressed enough to use the toilets; you’d be repelled by horrible stench from WC’s that have no running water to flush down accumulated faeces or urine. Even the Presidential Villa’s lighting system is powered by generators imported from China. If the seat of power is in this state, how would the rest of the country be? If you want to gauge the level of development of a country, pass through the airports. It takes long, agonising hours by travelers to go through our airport procedures. Those who want to exit face the specter of touts and other hoodlums who create needless bottlenecks for smooth operations at the checking-in counters. After enduring horrendous traffic snarls, you get into an airport that is steaming hot because of dysfunctional cooling system. This is not the Nigeria of the dream of our patriarchs.

Foreigners need not tour our country to get a picture of what’s going on. Our newspaper stories tell it all with their regular banner headlines and graphic picture of the latest victims of Boko Harams’ serial attacks, street violence, kidnapping, billions of dollars of missing monies, and cock-fights by politicians over how to appropriate the nation’s oil revenue. The centenary of Jonathan’s country is a tale of two cites-one for the super rich with strong ties to Aso Rock or government Houses at state level; the other for the 120 million majority who live below the poverty line. For those unfortunate ones, the Centenary ball held no meaning at all. Their plight is worsened by the sight of luxury autos conveying government officials. Things have become so bad that even local council officials indulge in this extravagance; it is also not unusual these days to see vehicles on Governors’ convoy getting involved in ghastly road accidents because of reckless driving by our leaders on the highways. No wonder our Centenary is a story of reckless governance, which obviously kept many important guests away. • Ayodeji, CEO of BMG Promotions, a marketing communications outfit, wrote from Lagos

Curbing the menace of land speculators Adewale Kupoluyi

o doubt, housing is one of the basic comforts of life. It not only provides shelter for the people, the possession of a house confers a sort of social security and dignity on the owner. Sadly, our governments have failed to give Nigerians good and affordable houses. Worse still is our comatose mortgage system, which offers no succour either, going by the exorbitant prices of houses usually, being put out for sale. The land speculators, popularly known as Omo-Onile, often sell landed property illegally to unsuspecting members of public. Not only that, when construction work begins, these mischievous people extort fees in-discriminatory and if anyone dares to challenge them, he becomes vulnerable to violent attacks. In Lagos and some metropolitan states, the problem is compounded by the alleged active involvement of some traditional rulers - obas and baales - in this criminality. Many Lagosians became the latest victims of land speculators, as residents of Atinporome, Badagry area of Lagos, contended with 200 policemen from the Lagos State Police Command, when they demolished over 500 buildings worth billions of naira, which were erected on a land ear marked for construction of a police estate. The police was said to have acquired the property about eight years ago, having obtained the Certificates of Occupancy (Cof-O) from the Lagos State Government, to enable it build an estate for senior police officers. Unfortunately, nothing was done

on the land after obtaining the C-of-O, thus creating a room for the Omo-Onile to resell the land to needy property buyers as the residents, claimed that they acquired their properties from Omo-Onile. Before the latest demolition, the police authorities alleged that they had issued two eviction notices, but the residents refused to leave. While some of the residents claimed that they were not aware that the police actually purchased the land, others alleged that a law court had given an injunction, restraining the police from taking possession of the land. Recently, the Lagos State Government took a more decisive action, through an amendment to the state’s criminal law, dealing with persons that engaged in fraudulent land speculation, for prosecution. The state’s new criminal law ensures that assault, manslaughter and murder constitute criminal offences. The state also launched the ‘Code of Conduct of Estate Agency Practice in Lagos State’, under the Lagos State Real Estate Agent Transaction Department. Before the introduction of this new law, it has been taken for granted that landed property cannot be stolen which, in the real sense was not true for it aided unscrupulous people to sell third party properties. That is why the Lagos State House of Assembly should be commended for passing a bill to curb illegal acquisition and selling of land by indigenous land speculators. The Lagos State Properties Protection Bill 2013 also contains the punishment to be meted out to offenders. Aside Lagos, the ugly activities of land speculators are ever embarrassing in other

states of the federation. More pro-active approaches should be deployed to tame what has now turned out to be a social, economic and financial crime. To begin with, property agents should be made to have a registered office - a rare prescription in many states - which encourages mischievous persons to dupe innocent people and quickly change base in a jiffy. An agent should be made to maintain accessible record of his/her business and ensure that a prospective purchaser takes physical possession of the property paid for within a period, except otherwise stated in writing by explaining the necessary obligations. This is a necessity going by the frequent demands for payments by customers before their preferred property is found. In most cases, many people ended up being duped this way! The existing provisions of the Land Use Act that vest the ownership rights of all land in state governors, which are held in trust for all citizens, is not helpful. Rather, what I think should be of utmost importance to the people is a proviso that guarantees easy access to incontestable procedure and title perfection documents. Government officials should be closely monitored to ensure that they do not collude or abet fraud. This was the assurance given by the Lagos State AttorneyGeneral and Commissioner for Justice, Ade Ipaye, when he said, “Fraudulent staff, especially in the Land, Housing and Judiciary ministries, who aid and abet criminals outside in landed matters will be used to set example of how committed we are to checking fraudulent cases in

landed property in the state”. Other states in the country should follow suit. Stiffer penalty should be imposed on those found guilty of land speculation. For instance, the Lagos State bill, which stipulates a fine of N200, 000 or a-threeyearsjail term for any person found culpable, is too lenient. The N200,000 option of fine is so meagre that it may not serve as adequate deterrent. Or, how do we explain a situation where an Omo-Onile, who reeks in millions of naira from a victim is made to pay just N200,000 as fine? Hence, a more severe punishment of a long sentence without an option of fine should be ideal. The police should no longer be docile to land speculation cases, but be up and doing in nipping this malaise in the bud. Members of the public should take the pain to verify all claims that pertain to the landed property they intend to purchase. If this had been done, the Badagry land purchase, which invariably back-fired and led to demolition would probably have been avoided. For example, the Lagos State Bureau of Land is the registry that is responsible for all land matters in the state, where people can verify the status of land in the state. Usually, prospective seekers are made to obtain verification forms and a search process initiated that would tell the prospective land buyer if the land is free of government acquisition and unencumbered in anyway, in terms of litigation. • Kupoluyi writes from the Federal University of Agriculture, Abeokuta, vide, adewalekupoluyi@yahoo.co.uk, Twitter, @AdewaleKupoluyi

LASPOTECH: charting tech innovation }p-25&26

Nigerians crave for CAMPUS Academy UK higher education orientates }p-23

students on security }p-27

EDUCATION

NEW TELEGRAPH

newtelegraphonline.com/education

KAYODE OLANREWAJU, Editor, EDUCATION

kayode.olanrewaju@ newtelegraphonline.com kayolanre@gmail.com

WEDNESDAY, MARCH 19, 2014

It is in fact a part of the function of education to help us escape, not from our own time—for we are bound by that –but from the intellectual and emotional limitations of our time - T.S. Eliot

Emuwa at the teaching session with the pupils

FINANCIAL LITERACY

In what could be described as catch-them-young, Union Bank's top management last week, took their financial literacy campaign to schools, where the GMD taught the pupils of St. Mary’s Private School, for more than two hours.

Kayode Olanrewaju

or five hours last Friday, top management of Union Bank Plc, led by their Group Managing Director/Chief Executive Officer set aside Board Room activities and other banking functions, to teach the pupils of Saint Mary’s Private School, Broad Street, Lagos. It was a typical classroom setting and the teacher was the Group Managing Director of the Bank, Mr. Emeka Emuwa. The main topic is “Financial Literacy” on which the pupils were taught based on the full Junior Achievementdeveloped Financial Literacy Curriculum, developed by Junior Achievement Nigeria, a non-governmental organ-

Union Bank’s march to secure children’s future isation focused on educating children about their economic environment. The lessons taught by the ‘teacher’ (Emuwa) which focused on the Special Financial Literacy curriculum include Fun Fact about money; illustrations on the old Trade by Barter System; Work and Income; Spending Money and Saving. During the lesson, the pupils were also exposed to financial education such as saving, creating livelihoods, gaining employment, and entrepreneurship. The child-centred teaching session was not only interactive, but also interesting, as pupils asked and answered questions on every topic taught.

In the classroom setting were no fewer than 100 pupils who selected among the 870 pupils in the school enrolment, for the pilot phase of the programme. Part of the aims of the exercise, is to ensure that financial literacy is integrated into the mainstream of the school curriculum, as well as the consciousness of the pupils’ learning experience and behaviour. The teaching exercise, which lasted for more than two hours, was part of one-week long activities to celebrate the Global Money Week, aimed at creating money awareness among the children and youth by engaging them on financial education. At the classroom with their pupils

We believe strongly that a proper financial education will empower our young ones to make sound financial decisions in the future

was the Supervisor of the school, Sister Patricia Okwegba, who led other members of teaching staff to the teaching session. Dressed in a white T-Shirt with the Union Bank’s inscription, the Group Managing Director, spoke about the relevance of the exercise, saying: “We, at Union Bank see opportunities such as this, where we are part of the process of educating our children and equipping them for the future, as a privilege. “We believe strongly that a proper financial education will empower our young ones to make sound financial decisions in the future. In addition, as an organization that is firmly committed to the achievement of financial inclusion in Nigeria, we are convinced that financial literacy is a key step in the attainment of this aspiration.” Emuwa, who also chairs the Financial Literacy and Public Enlightenment Sub-Committee of the Bankers’ Committee, hinted that members of staff of the bank had volunteered to devote their time to teaching pupils financial literacy education. St. Mary’s Private School, is one of the schools adopted by Union Bank Plc in furtherance of its commitment toCONTI NUED ON PAGE22

22 EDUCATION

Wednesday, March 19, 2014

Sola Adeyemo Ibadan

ow response to warning signals, lack of sufficient welfare package for security agents, as well as loss of value system have been identified as major causes of violence and security challenges in the country. This was part of the views of members of the academic community and participants from 39 government agencies and academic institutions, who converged on the Nigerian Institute of Social and Economic Research (NISER), Ibadan, Oyo state capital, to brainstorm on insecurity confronting the country. The theme of the workshop delivered by Dr. Adebayo Ajala of the Social and Governance Policy Research Department of NISER: "Security Challenges in Nigeria: Which Way Forward." Ajala also identified major security concerns of the country to include armed robbery, burglary, kidnapping, religious conflicts, terrorism, rape and ethnic conflicts as well as high level of poverty, inability of gov-

Pupils of Whanyinna Primary School, Makoko, Lagos; presented with milk drink during the CEE-HOPE's anti-abuse campaign

Dons, experts brainstorm on causes of insecurity ernment to provide basic infrastructure and basic services for its citizenry, and youth being lured into arms carrying by politicians. The lecturer, however, recommended the following as a way forward: intensification

of efforts on job creation, enabling environment for private sector to provide employment opportunities for the teeming population, effective community policing and the need to psychologically and financially motivate and equip the security

personnel. Participants at the monthly seminar include Professor Olufemi Taiwo, D-G, NISER; Professor A. Aderinto; Dr. Nathaniel Danjibo; Dr. Michael Bolarinwa; representatives of the Nigeria Police, Immigration,

Customs, NSCDC and National Planning Commission. Aderinto, who chaired the session, expressed worries over rising political crises with the imminent 2015 elections, noting that "there cannot be meaningful development when there is insecurity". Some of the participants noted that there was the need for value re-orientation among Nigerians to curb violence and crimes such as rape, gunrunning, human trafficking, terrorism, armed robbery and kidnapping ravaging the country. The representative of the Immigration advocated adequate welfare package for security agents in order to give them sense of fulfillment, commitment and loyalty required to serve the nation better. Ajala said: "A situation where a security agent is killed while defending the nation and members of his family are subsequently sent packing from the barracks, with the children's education thrown into shambles, the security of such family has already been breached.

Day Union Bank moved to secure children’s future CO N T I N U E D F R O M PA G E 2 1

wards financial inclusion and financial literacy in the country. The adoption of the school, according to the bank, will involve a year-long programme of financial literacy support by the bank to the school. While enumerating the importance of the exercise, and welcoming the pupils and their teacher to the teaching session, Mrs. Oyinkan Adewale, Executive Director and Chief Financial Officer of the bank, explained: “The absence of financial literacy often leads to the development of poor financial habits.” According to her, “this can have profound adverse effects on an individual, their community and the nation at large.” Conscious of this, Mrs. Adewale noted that it is therefore important that the children understand the basics of finance from an early age. To support banking and saving culture among children and young adults, she spoke of how Union Bank developed a number of product offerings such as U-Kiddies and U-Teen Accounts, which are specifically designed and tailored for children and teenagers. Apart from the teaching session at the school, the bank also hosted a select group of pupils from other schools simultaneously to an Open Day excursion at the bank’s headquarters in Marina to observe the bank’s activities. The pupils asked questions on cash-

The pupils at the teaching session

less policy of Central Bank of Nigeria (CBN) entails, how to open an account with banks, benefits of the bank, positive contributions of Union Bank to the nation’s economic growth, which Emuwa said could been seen in the area of agriculture; why do banks ask for collateral for loans facility; and rising cases of fraud in the banking system, among others. The Group Managing Director, who noted that the programme is in its pilot phase and hinted the it would be extended to more schools within and outside Lagos, said the expectation is that the children through the teaching exercise would not only be financial literate, but also increase the knowledge and understanding about bank-

ing activities. He said the few children who benefitted from the teaching programme would reach out to their friends and parents about the functions and how the use the banks, stressing that the banking culture already imbued in them will improve their future. “Children will be able to plan for the future through this initiative, and it will build the future in them,” he added, noting that it is a broad based approach in which you educate the children, who in turn educate their parents. Emuwa, an alumnus of the school, described the children as “very enlightened children” going by the intelligent questions they asked and

answers to questions he asked them. While expressing gratitude to the bank for the exercise and for adopting the school, Sister Okwegba, the Supervisor of the school, said: “I am happy seeing what the bank is doing this morning. It is a big thing for St. Mary’s School and its children. It is the first time in the annals of the school to witness this kind of programme.” According to her, the teaching session was interesting and it has gone a long way to reveal a lot about banking and the entire banking industry. “I am convinced that through the lesson the children will go home with a lot of information and what they have learnt will stick into their memory for a long time,” she said, pleading with the bank to sustain the programme by making it a yearly exercise. Sister Okwegba said: “I want to thank the management of the bank. God will bless you and more grease to your elbow. And, I want them to plead you make it a yearly programme. Also, I want to request that the bank reach out to other schools so that more children could benefit from it. “As leaders of tomorrow, this is the kind of programme the children needed, and I am optimistic that this event will encourage them to move ahead in life,” she added, saying as the proverbial Oliver Twist, the school is still looking to the bank for more intervention that will develop the school, pupils and their teachers.

Wednesday, March 19, 2014

Nigerians crave for UK higher education Despite recent study by the United Kingdom National Union of Students indicating foreign students’ allegation of unfair treatments against UK authorities, more Nigerians are still aspiring to study in the Queen’s land. MOJEED ALABI reports.

orried by the dwindling enrolment of foreign students in their institutions, the National Union of Students in the United Kingdom, in a research and opinion poll conducted on 3,100 foreign students, revealed a startling position that non-European Union students are unhappy with UK authorities especially over some new policies which they described as unwelcoming to them. The survey published by UK based Independent Newspaper, “shows that PhD students are most affected by the UK education policy, who by the policies are no longer welcome in the land. Of the Ph.D students that are affected by the policy, Japan has 65.8 per cent; Nigeria 64.5 per cent), Nigeria; and India 62.8 per cent, who have received the UK hostile treatment. Students from India, Pakistan and Nigeria, based on the

treatment meted out to them through the new policy are most likely to advise their colleagues who may want to study in the UK not to do so. Part of the policy, investigations reveal include the introduction of £200 the country will now charge foreign students for the National Health Service (NHS); the cancellation of the free access to the General Practitioners in Medicine (GPs) and the introduction of strict rules for students willing to stay back in the country for job opportunities after graduation. They also complained of the new directives urging landlords in the UK to investigate their student tenants’ legal status. The reason for these rules, UK Government has said was to address the challenges currently being faced through bogus students enrolment, saying about 500 higher institutions “allegedly selling immigration and not education, have lost the

right to bring in international students." Investigations have further shown a drop in recruits from 239,000 in 2012 to 197,000 in 2013, while the latest UCAS statistics are still being awaited. The implication is that there will continue to be shortfall in the education income since about £8 billion is being contributed yearly by the international students to UK’s national economy. However, while applications from other countries on the list of foreign students in the UK from countries such as India, Pakistan, China and Saudi Arabia, are decreasing, New Telegraph investigations showed that more Nigerians are seeking higher education in the UK. The reason for this is that they want to run away from the harsh conditions they are being subjected to at home.” According to the Education UK Project Manager, Mrs. Sephora Imomoh, who disclosed this recently during the UK Education exhibition at the Eko Hotels and Suites, Victoria Island, Lagos, Nigeria

has a highest percentage of foreign students in the United Kingdom. The development might have influenced the number of UK higher institutions that participated in the exhibition, which had several thousands of high school students in the country in attendance. A total of 61 higher institutions including University of Leeds, University of Bradford, Swansea University, Oxford Brookes University and The Manchester University, among others took part in the yearly education exhibition or fair organised by the Council. Some of the students, who participated in the exhibition, including those from Bodija International College, Ibadan in Oyo State, said they were inspired to attend high institutions in the UK because of the standard of education and the various challenges confronting the education sector in Nigeria. Bayoji Oladejo, a Senior Secondary School (SS III) of the school, said he wished to study Civil Engineering at the Oxford Brookes University, UK.

Participants at the exhibition

EDUCATION

Youth tasked on good virtues Tunde Osowe

ouths in the country have been counseled and challenged on the urgent need for them to imbibe good virtues and character disposition required for nation building and transformation. The admonition was given in Lagos at the eighth edition of the ‘We are The Future of Our Nation' (WATFON) programme. The event, according to the organisers, was designed to arouse the consciousness of Nigerian youths by learning from the mistakes of the past, with a view to making sound decisions for the future. Dignitaries from all walks of life at the event to counsel and encourage participants (youths) on what to do to make meaningful impact, not only at present, but also in the future were the wife of Ogun State Governor, Mrs. Olufunso Amosun; Dr. Tokunbo Dosunmu-Awolowo, Prof. Taiwo Osipitan, Mr. Jimi Agbaje and Stephane Okereke. Osipitan, one of panelists who spoke on the topic: "Loving a Country You don't Like," advised the students that they should be up and doing in whatever career they are pursing, noting that though corruption is endemic in the country, the youths can take the bull by the horns to turn things around for the better. He maintained that they should be positive-minded and believe that the challenge the nation is currently facing is temporary, a situation he said would only last for a while. "The challenges of today are for a while. They are not peculiar to Nigeria alone. Nations all over the world experience one form of difficulty or the other.

FCT scholarship board canvasses for funds Sani Muh'd Sani Bauchi

CT Scholarship Board has spoken of plans to set up an education trust fund as part of moves to create additional funding sources without relying solely on government for funding. It said this is being planned with a view to creating room for more funding outside what is accruable from the government purse.

The Assistant Director, FCT Scholarship Board, Malam Abubakar Muhammad stated this when he visited to the Executive Chairman of Bauchi State Scholarship Board in Bauchi. Among areas the board plans to looking at to source funds according to the assistant director, is to appeal to the government to put in place a policy where one per cent of every plot of land sold in the FCT is remitted to the board, as well as one per cent of every contract awarded

by the Federal Government in the FCT, apart from the monthly allocation to local governments in the FCT. Mohammed, who said the FCT Scholarship Board was established in 2010, was in Bauchi to solicit the state's scholarship policy guidelines to fashion out a policy that will suit the board. While explaining that the board has been working with Education Support Scheme Guidelines which has now become effective, stressed the need

for the board to adopt the Bauchi board's structure, its mode of operations and mode of payments. Such move, according to him, will enable the board come out with effective and viable scholarship scheme that will stand the test of time and put a smile on the faces of students from the Federal Capital Territory, as well as their parents. In his remarks, the Executive Director of the Bauchi State scholarship Board, Allhaji

Kulloma Hardawa restated the commitment of the board to ICT to improve efficiency and capacity building. Hardawa, who described ICT as an important facility that make accessibility of services easier and contributes to the enhancement of performance of individuals and organisations, said “there is need to explore the opportunities and benefits offered by online and mobileenabled services and products to improve efficiency of the board.”

EDUCATION

Wednesday, March 19, 2014

Overhaul curriculum to Eggheads brainstorm on biotechnology accelerate technology, FG told Oye Ogunwale

he Federal Government has been urged to as a matter of urgency, re-overhaul the school curriculum in order to enhance educational standard and accelerate technological and industrial development. This call was made by the Chairman Governing Council, African Church College of Education, Mr. Babatunde Adewale Odufuwa, an engineer, while addressing journalists at the pre-graduation ceremony press briefing of the college. In his address: “Enhancing the Standard of Tertiary Education in Nigeria”, he pointed out that the present system of education had lost touch with the technological development and revolution going on in the entire world. Odufuwa said: “Nigeria needs to re-overhaul its educational curriculum and methodology in order to develop its human resources or else the country will lag behind. The

Wike, Minister

present type of education being offered the students in secondary schools and tertiary institutions could not provide the technological needs of the nation, while our infrastructural development was not matching the growing population. According to him, the present school curriculum, overloads the students with too many subjects, as a result of which the students only memorise their notes and other educational materials given to them by their teachers just to pass their examinations. He explained that the level of education a nation attains, determines the standard of its technological development, calling on the government to double its current funding to education being a big investment that will develop the nation’s technology and industrial sector. With the Board Chairman at the press briefing were Rev. Deji Sogbamu, Dr. Adelaja Omofade, Rev. Ayoko Babatunde, Professor Felicia Etim, Archbishop Segun Enigbokan, Secretary of the African Church, and Mrs. Folashade Erinle, Provost of the college. Odufuwa, who advised the government to look into how the education funds were being disbursed in order to serve its purpose, said the government should be specific in its intervention roles in education by giving every Nigerian child the opportunity to be educated.

Adeyemi presenting a plaque to Maziya-Dixon after the lecture

Mojeed Alabi

o prevent the imminent food crisis in the country, eggheads and members of the academic community, last week rose in a consensus that biotechnology, among other things should be deployed to address the challenges of food insecurity in the country and Africa as a whole. Their call was backed by relevant statistics and all indications that the nation is far from meeting the Goal One target of the Millennium Development Goals (MDGs) aimed at making enough food available to all Ni-

gerians by 2015. It was at the ninth annual lecture series of the College of Food Sciences, Bells University of Technology (BELLSTECH), Ota, an industrial community in Ogun State, where they beamed a searchlight on the relevance of the food insecurity challenge facing the African continent and Nigeria in particular. With theme: “The Place of Research for Development in the Food Sciences and Biotechnology in a Developing Agrarian Economy,” they said the challenge facing the country informed the choice of the theme. According to the guest speaker, a Crop Utilisation Specialist

at the International Institute of Tropical Agriculture (IITA), Dr. Busie Maziya-Dixon, the intervention of the academics through productive research works and the deployment of biotechnology to food production and distribution, is the only solution to the imminent crisis of food shortage in the country. Maziya-Dixon, who hinted that the insurrection in certain parts of the country has further heightened the existing food insecurity, however regretted that the development has further narrowed the chance of Nigeria to meet the Goal One target of the Millennium Development Goals.

Nigerians advised to develop Korean model Sola Adeyemo Ibadan

igerians have been called upon to develop and adopt “we-can-do-it” mind-set of the Koreans for the country to develop its human capital. The clarion called was made by the Group Managing Director of Oodu’a Investment Company Limited, Mr. Adebayo Jimoh in a paper he delivered at the Distinguished Alumnus Lecture organised by the University of Ibadan Alumni Association in Ibadan. In his lecture entitled: "Challenges of Human Capital Development", he noted that in educating the people, the promotion of entrepreneurship culture had become necessary in leapfrogging the country to a technological-driven nation. "The Koreans have adopted

a philosophical approach and mind-set, which is the 'we can do it mind-set' and this had in a long way helped the Koreans to experience a rapidly improved economical growth,” Jimoh said. Expatiating, the Odu'a boss added: "The Koreans have developed new technologies and now have a skilled workforce, which is exactly what is required for growth and development in Nigeria". He, however, advised the government to come up with policies that would make good use of the nation’s human capital as a replica of the Koreans model. His words: "Despite that Korea has no natural resources, they were able to grow their economy by enhancing their human resources. Nigeria should take a clue from this.

Mrs Makinde, Adelaja Dotun and Janet Gordion at the event

Kayode Olanrewaju

inners of the maiden edition of the Yojus Painting competition among pupils in some selected private primary schools in Lagos State will emerge at the grand finale, billed for this month. The contest, according to the organizers, will be among 55 pupils from 85 private primary schools in the state. The winners will go home with bicycles, computer games, Yojus products and other gift items, as well as certificates of participation for the contestants and their teachers. Addressing journalists at a

Painting competition set to enhance pupils’ creativity press briefing, held at the GRA, Ikeja, Lagos, Yojus Brand Manager, Mrs. Foluke Makinde, said the competition tagged: “Yojus Painting Star,” is for children between four and 12 years old in primary and Junior Secondary School level, otherwise referred to as the basic education level. The contest, she hinted is being promoted by Ranona, a member of the Olam Group and manufacturer of Yojus fruit drink, a brand, which according to her, was launched into the Nigerian market in March 2010.

With the theme: “Story of My Holiday,” the painting contest is part of the company’s effort to engage its target consumers. “Part of the aims of the competition is to encourage creativity and thinking among children, help children unlock their creativity in art and create healthy competition among pupils and their schools. So far, Mrs. Makinde, who disclosed that over 1,200 entries were received from 85 schools, noted that out of whom 55 pupils had been shortlisted for the grand finale.

EDUCATION

Wednesday, March 19, 2014

LASPOTECH: Charting technological innovation

The SM&BS complex

hat the foundation of the polytechnic was laid 37 years ago, to consolidate on need to produce skilled manpower for commerce and industry, using modern facilities and technology, is no longer news. But what has preoccupied the mind of the management, led by the Rector, Dr. Abdulazeez Lawal, is how to sustain and surpass the enviable height of the institution in the last four decades in line with the vision of its founding fathers, despite the prevailing challenges. Under his administration’s massive transformational programme, the Lagos State Polytechnic (LASPOTECH), Ikorodu, Lagos Rector said expansion of the polytechnic research capacity has ostensibly remained top on its priority list. According to him, the polytechnic that has produced over 70,110 well-trained graduates, who are today shakers and movers of the banking, oil and gas, insurance, business and technological world, as well as the nation’s political turf, in the last 37 years, is being repositioned as a technological-driven polytechnic of the 21st Century. Some of the old students of the institution, which opened

Lawal

Since his appointment as the Rector of the Lagos State Polytechnic (LASPOTECH), Ikorodu; Dr Abdulazeez Lawal’s focus has been on how to make the polytechnic a world-class institution in the delivery of technological education. KAYODE OLANREWAJU reports. its doors to the first set of students in January 1978, when it took off as Lagos State College of Science and Technology, at its Isolo campus, include Mr. Bisi Oresanya, Managing Director of First Bank Plc; Mr. Rotimi Edu, Managing Director, Quicklink Insurance; Mr. Bode Opadokun, Managing Director, Nigeria Agricultural Insurance; Senator Ganiyu Solomon; and Hon. Abike Dabiri-Erewa, member of House of Representatives and Chairman House Committee on Diaspora. Others are Mr. Olasunkanmi Longe, Deputy Rector of the polytechnic; Mrs. Charis Akinsanya, former Bursar of the institution and Mr. Benjamin Ashade, the current Bursar of the polytechnic. While highlighting some of the moves to put the polytechnic of the world map of academic and technological reckoning, Lawal said a new enabling law was enacted in April last year, for the institution with the appointment of two Deputy Rectors in charge of Academics, and Administration respectively. This, according to him, had further engendered the effective running and administration of the polytechnic, while the Governing Council membership was expanded to include representative of the alumni in order to give the association a sense of belonging in the development of their alma mater. The polytechnic, which changed its name to Lagos State Polytechnic in 1987, also relocated its main campus from Isolo to Ikorodu permanent site in May 2000. Tracing the journey of the polytechnic, the Rector explained that the institution, which took off with five depart-

ments at Isolo campus – Accountancy and Finance, Management and Business Studies, Insurance, Secretariat Studies and Basic Studies - has today grown in size and bound with 52 accredited programmes in 31 academic departments across the six schools at its Isolo, and Surulere mini campuses. “With 287 pioneering students 37 years ago, LASPOTECH now has 6,030 full-time and over 12,000 part-time students in its National Diploma (ND) and Higher National Diploma (HND),” Lawal noted, saying the polytechnic no doubt has in its existence contributed tremendously its quota towards the expansion of the qualified human resources base in all critical sector of the nation’s economic. Guided by the dream and aspirations of its founding fathers, the Rector said of the polytechnic’s mission, goals and core values: “We are focused on quality and excellence, service to students and society, research and innovation, creation of a vibrant intellectual environment, and most importantly, strategic partnerships with various organisations within and outside Nigeria.” While the polytechnic was established to “develop clear educational outcomes, its specific mandate was to produce skilled manpower for commerce and industry using facilities and competent personnel for the benefit of all.”

With 287 pioneering students 37 years ago, LASPOTECH now has 6,030 fulltime students...

The Rector stressed: “LASPOTECH is committed to avowed vision of becoming a world-class tertiary institution, whose mission is to extend the frontiers of knowledge through teaching, research, creative works, consultancy and community service. Towards this end, he noted that the management has continued the long tradition of providing quality education to meet the technological needs of the state and country in general. Part of strategies put in place to move the polytechnic forward and enhance the welfare of the workers, which Lawal said is a major priority of his administration, include the retirement age for members of academic and non-academic staff which is 65 years, while 35 years service rule still applies to the non-academic staff. He said regular promotion of the workers and improved welfare of students and staff had been aggressively pursued by the management, even as he added that the new polytechnic law also adjusted the tenure of office of all the principal officers of the polytechnic, except that of the deputy rector, to a single term of five years. Some of the infrastructural and development mechanism put in place in the last few years to facilitate effective teaching and learning environment, according to the Rector, include construction of Digital Centres on all three campuses for computer literacy education programme; construction of (2 No) blocks in the School of Technology complex; a sports complex and stadium; School of Management and Business Studies, and a modern Mechatronics workshop on Ikorodu main campus. Also, the polytechnic has

completed the construction of a new laboratory with modern equipment for the School of Technology; provision of stateof-the art equipment for Chemical Engineering Department through TETFund intervention allocation; construction of the access road linking the polytechnic and Itoikin; establishment of a resource centre in the polytechnic library; provision of large lecture theatres to facilitate the transition from annexes to distance learning; upgrading of the library into e-library; development of a robust software for result processing; re-engineering of the polytechnic ICT; provision of students’ hostels on Ikorodu campus; construction of a befitting administration block; and the Estate Management Department complex; provision of CAD Laboratory in Architectural Department; production of bottled/sachet water and establishment of a standard printing press. Others are construction of Entrepreneurship Development Centre; rehabilitation of the LASPOTECH commercial farm and the take-over of the LASPOTECH Guest House for effective management and income generation; completion of two blocks in SM&BS complex; construction of 700-capacity auditorium; rehabilitation of laboratories in the School of Engineering. Projects under construction include those of the Department of Banking and Finance block; one-storey classroom block in the School of Engineering; 700-seater auditorium in the School of Agriculture; Automotive Emission Testing Laboratory in line with mega city initiative of the Lagos State Government. Besides, the management making moves to improve on the subvention from the GovernCONTINUED ON PAGE26

26 EDUCATION | INTERVIEW

Wednesday, March 19, 2014

L-R: Fapetu, Daramola, Professor Adedayo Fasakin, Deputy Vice-Chancellor (Academic) and Professor Tolulope Akinbogun, Deputy Vice-Chancellor in charge of Development at the event.

Innovations as antedote for technological advancement - Don

don at the Federal University of Technology, Akure (FUTA), Ondo State has said that one of the essential ingredients for technological advancement of any nation is the creation of a field of innovations or inventors. This was part of the views of Olorunisola Peter Fapetu, a Professor of Mechanical Engineering, at the 65th inaugural lecture at the university, which was entitled: “Synthesizing the Fabrics

of Engineering Structures for Technological Emancipation.” The lecturer also spoke on the need to control innovations in science and technology in view of the attendant negative effects unbridled inventions have on human and environment. Alluding to some innovations and their postulators, he said “when Albert Einstein in 1905, armed with his theory of special relativity, propounded the massenergy equation, little did he re-

700-Seater Auditorium

CO N T I N U E D F R O M PA G E 2 5

ment – through various interventions and fund generation; provision of lecture theatres and classroom facilities; as well as moves of ensuring that government releases the outstanding salary arrears due to staff members, as promised in the agreement signed in March, 2013. To enhance the welfare of workers and students, the polytechnic has provided shuttle buses including 18-seater bus for students; 18-seater bus for staff plying Ikorodu to Lagos, a new TATA staff bus (from

alise that engineers would use it to develop the atomic bomb dropped on Hiroshima and Nagasaki in 1945”. According to him, one of the essential ingredients for technological advancement of any nation is the creation of a field of innovations or inventors. He, however, said that we could not continue to innovate without adequate control of such innovations, adding that for instance by rapidly inno-

vating and churning out exponential brands of automobiles in the last decade, some auto manufacturing organisations have been recalling millions of assorted brand of car products which he attributed to uncontrolled innovative activities in the organisations. While underscoring the low technological status of the country, the don recommended and advised the Nigerian university system should encourage

and stimulate innovative and inventive minds by creating an enabling environment for such to thrive. Fapetu, who urged university authorities to avoid interference in the works of creative minds except in the provision of adequate funding, however made a case for adequate funding of the universities, polytechnics and Trade schools. Towards this end, the don recommended the allocation of 50 per cent of the excess crude oil revenue to the institutions, even as he called for prudent management of available funds. Fapetu said: “Innovative/inventive activities in the universities should be accorded premium recognition in the assessment of staff for provision and award of excellence while the quanta of published journals should have secondary value.” On the role of federal and state governments towards the development of innovation, he said they should adopt the Industrial Initiatives and Innovation Cooperation Projects (IIICP) as propounded by the United Nations Development Project (UNDP) to stimulate cooperation between companies and universities, and research Institutions. In his remarks, the ViceChancellor, Professor Adebiyi Daramola, lauded the lecturer for his dexterity in delivering the lecture, saying despite the complexity and technicality of the engineering field he was able to hold his audience spell bound.

School of Tech on-going

‘Research is our top priority' Lagos to Ikorodu) and another TATA long bus for students also from Lagos to Ikorodu; 2 No of Coaster buses (one each for the Governing Council and management), as well as a Toyota Hilux for projects monitoring. Under the polytechnic’s staff development programme, no fewer than 43 members of academic staff are currently in universities within and outside the country, comprising 27 pursuing their PhD programmes, and 16 pursuing their Masters

programmes through the TETFund staff development intervention in the polytechnic. But, despite the laudable achievements of his adminis-

We are focused on quality and excellence, service to students and society

tration, Lawal is not happy over the challenges inhibiting his administration’s vision of realising the polytechnic’s dream of becoming a world-class institution in no distant future. One major challenge, according to him, is the lack of a befitting Administrative complex for the 37-year-old polytechnic, which has its administrative seat at the library complex, and inadequate funding, which though may not be peculiar to the polytechnic, to meet the

day-to-day running of the institution as well as payment of the workers’ monthly salaries, which he said “has been a pain in our neck.”. But, in view of all these daunting challenges, the Rector reiterated his administration’s avowed determination to improve the teaching, learning and research facilities, not only to create the best environment for staff and students, but also to put the polytechnic in path of technological development and growth in line with the aspirations of its founding fathers.

CAMPUS | EDUCATION 27

Wednesday, March 19, 2014

Briefs

VC optimistic over medical college’s accreditation

ice-Chancellor of Ekiti State University (EKSU), Prof. Oladipo Aina has expressed optimism that the human resources and infrastructural development at the university’s College of Medicine, will put the college in better position to do well in the accreditation exercise to be conducted on its programmes. He disclosed this while declaring open a one-day workshop organised by the college ahead of the accreditation exercise. The Vice-Chancellor urged participants at the sensitization workshop to engage in discussions and deliberations that would enlighten all stakeholders on the accreditation exercise by the National Universities Commission (NUC) and the Medical and Dental Council of Nigeria (MDCN), the agencies responsible for the accreditation of medical education in the country.

Cross section of the participants at the programme.

Academy orientates students on security Isola Taiwo, UNIMAID and Ajobiewe Tolulope, FUTMINNA

T Aina

...Police pledge support for varsity

kiti State Commissioner of Police, Mr. Felix Uyanna, has pledged the readiness of his Command to cooperate with the authorities of Ekiti State University (EKSU) to reduce the waves of crimes on the campus. He made the pledge during a visit to the Vice-Chancellor of the institution, Prof. Oladipo Aina. Uyanna, who was recently deployed to the state, noted that security was the business of everybody and stressed that he would rely on the cooperation of all and sundry to combat crimes in the university and state in general.

...Admits fresh students

reshers at the Ekiti State University (EKSU), Ado-Ekiti have sworn to the matriculation oaths of the institution, pledging to be of good behaviour and uphold the tenets of the university throughout their studies in the institution. Welcoming the fresh men and women to the campus, the Vice-Chancellor, Prof. Oladipo Aina assured the students that the university has been equipped with adequate facilities to train them to live in a dynamic global community.

he Tolerance Academy, trademark of Youth Tolerance for Peace Development Initiative has emphasised its commitment to foster social and cultural integration among youths as part of its efforts at reducing the spate of violence in the country. The Academy restated its commitment during the one-week activities making its Third Season, where it hosted some 40 students from different tertiary institutions across the country at the National Youth Development Centre, Ode-Omu, Osun State.. The programme, which featured six interactive sessions and case study analyses, also featured aerobics, interactive sessions, cultural display, presentations, debates and visits to important places in the state. In the first session entitled: "Relational Leadership," the Director of the Academy, Mr. Ayodele Jonah Obajeun

described leadership as a position and not an influence, which requires passion and “I can do it” spirit.” He enjoined participants to cultivate the habit of living together in peace, and to also imbibe the spirit of their brothers’ keepers. As part of activities lined up for the proghramme, participants visited the Ode-Omu Central Mosque, The African Church and the palace of the king of Ode-Omu, as well as the Erin Ijesa Water-Falls near Ilesa. The high point of the event, which was rounded off with a dinner, was the award ceremony for winners of the brain blogger contest, another initiative of the Academy that aimed at testing the intelligence capacity of Nigerian youths. It was a joyful moment for 400 Level undergraduate of the Faculty of Law of Obafemi Awolowo University (OAU), Olaoluwa Abagun, who emerged the star prize winner of contest, while Ajobiewe Tolulope a student of the Federal University of Technology, Minna,

Niger State, and Asanike Sekinat Adeola, also from OAU came second and third respectively. In his remarks, Obajeun, who spoke of his motivation and challenges about the initiative, however described his passion for national transformation and integration as strong and uncompromising. "Some of us believe this nation will not divide, we will stand on this conviction, work towards it and die with it, and so every one of you should imbibe this spirit to achieve a better Nigeria," he said. A participant at the Academy, Meimuna Yusuf Ahmad from Bayero University Kano, Kano State, who said of the Academy: "I have learnt a lot about our diverse cultures and people. There are several participants who speak different languages, but we all interacted freely and shared a lot of views. Prejudices that I have towards certain cultures and religions disappeared and I could now see myself in a different light and in a new way."

Ibadan students honour commissioner Sikiru Akinola OAU

or his outstanding contributions to youth development and education in Oyo State, the state’s Commissioner for Industry, Applied Science and Technology, Mr. Adedapo Lam-Adesina has been honoured by the Nigerian University Education Students Association (NUESA) and residents of Sultan Bello Hall, University of Ibadan. While presenting the award plaque to the recipient, NUESA President, Taiwo Amos Sunday commended the commis-

sioner for his outstanding leadership ation, even as he advised them not to rely qualities which, he said, is worthy of on white-collar jobs after graduation. emulation. In his response, LamAdesina thanked the students' groups for the recognition and honour bestowed on him, which he said, would further motivate and spur him to do more. However, he challenged the students on the need for them to pre- L-R: Mr. Adesina; Mayor of Sultan Bello Hall, Aremu Adedayo and another student pare for life after gradu- during the presentation of the award plaque.

EDUCATION | CAMPUS

Day Osogbo students showcased “Eko and Efo” at festival Kemi Busari

Some of the students eating eko at the event

ing competition. While welcoming guests to the event, the President of the association, Akano Sulaiman, said the association was very proud of their town and to identify with the cultural practices of their people, even as he praised their forefathers for showing them the right path. He said the promotion of African values, and Osogbo cultural system had become important to prove to the world “that we are men and women of good identity and cultural

values.” In his address entitled: “What Does it Take to be Educated?” Dr. Ademola Adeleke, a lecturer at the Faculty of Education at the university, noted that education goes beyond acquiring certificates, but rather the totality of human way of life. He said: “Education starts from birth; the informal training one gets from parents is a necessary tool of building a societal acceptable human being. To be educated is to have training capable of earning one a

living.” The lecturer added that to be successful in life, one needs to take firm decisions on issues, get the basic requirements to fulfill such decisions and pray for them to come to pass. Also addressing the students, Prof. Richard Olaniyan, a member of the Governing Council of the Ladoke Akintola University (LAUTECH), Ogbomoso challenged them to rise up to their academic and civic responsibilities by studying hard and preserve their cultural heritage.

Ajasin varsity celebrates NUGA, debate winners

The university's VC, Prof. Femi Mimiko (7th right) in a group photograph with other staff and the athletes at the event.

Hameed Muritala

t was time last week for Adekunle Ajasin University, Akungba-Akoko (AAUA) to honour its contingent to the 24th Nigerian University Games (NUGA), and representatives at the 2013 National Debate for Nigerian Tertiary Institutions. The event was a dinner organised by the university man-

Kwara state’s bursary enriches students Unilorin

OAU

t was one of those rare moments at the Obafemi Awolowo University (OAU) as a group of students, under the Osogbo National Students Union (ONSU) set aside the ‘borrowed western culture,’ to display their cultural values and system of eating and dressing. The students, who are origin of Osogbo brought their traditional delicacies of “Eko and Efo,” (pap and vegetable) says, the popular delicacies of the ancient town, the seat of Osun Festival, to the centre stage of their cultural week. To celebrate their week, the students gathered their friends, colleagues and other members of the university community including their lecturers, to mark this year’s Oroki Day Celebration. The event was organised to showcase a better way of eating the Eko and Efo, as a means of poularising the food among their people. During the event, the organisers were said to have requested for volunteers, who would display to the excitement of the audience the better way of eating the staple. Six students, comprising male and female were said to have gracefully marched to the rostrum to take part in the eat-

Wednesday, March 19, 2014

agement in appreciation of its ‘proud ambassadors’ for a job done well for doing the university proud. The university debaters (students) emerged the overall winner of the 2013 edition of the Annual Youth Debate of the Nigerian Tertiary Institutions, organised yearly by the Federal Ministry of Education, which

took place at the Abuja Head Office of the ministry. Also, the university community is still savouring the outstanding performance of the institution’s contingent to the just concluded 24th NUGA hosted by the Obafemi Awolowo University. The university, according to the information unit, partici-

pated in six games, winning two gold, three silver and one bronze medals to emerge 13th out of the 41 participating universities. To reward the winners for their exemplary performance, the university presented laptop computers to all the medalists and the four debaters, while every member of the contingent and debaters received Certificates of Award of Excellence at the dinner. The Vice-Chancellor, Prof. Femi Mimiko, in his remarks, praised the contingent and the debaters for doing the university proud. Mimiko, who visited members of the contingent during NUGA event, acknowledged the spirit of sportsmanship demonstrated by the students, saying, "I was very excited by the very high spirit of members of the contingent."

ROM its pocket, Kwara State Scholarship Board penultimate week enriched the purse of students of the state origin at the University of Ilorin (UNILORIN) with the disbursement of bursary allowance to them. The disbursement was carried out at the Faculty of Law of the institution, where each beneficiary received N5,000. Prior to the disbursement, the board was said to have pasted a list containing the names of those eligible to benefit from the government largesse at the Students’ Affairs Unit of the institution. Students, whose names appeared on the list and who were subsequently cleared were paid the N5,000 bursary. Before payment, each beneficiary parted away with N500 being the sum deducted from the amount by the executive of the National Association of Kwara State Students (NAKSS), UNILORIN chapter as their annual due to the association. The amount was not deducted by the State Scholarship Board, but by the National Association of Kwara State Students as alleged by some students. Some of the students’ names were said be missing in the list, and hence were not eligible to benefit from the bursary allowance. But, the Chairman of the scholarship board, Alhaji Isiaka Mogaji assured that the names of all affected students would be looked into and would be contained in the second batch of the disbursement, adding that only 5,000 students were paid in the first batch. He said: “We received 8,575 names of students of Kwara State origin from the Students Affair’s Unit of the university. We are paying in batches and only 5,000 students were being paid in batch one, while the remaining 3,575 students will be paid in the second batch.” Mogaji, who disclosed that students who were not present during the disbursement should go to the office of the board to collect their bursary allowance, recalled that the board had disbursed payment to Kwara State students in more than 32 higher institutions across the country.

CAMPUS | EDUCATION 29

Wednesday, March 19, 2014

Organisation equips students’ skills in leadership, entrepreneurship Hameed Muritala UNILORIN

or four days last week, a Non-Governmental Organisation (NGO), Enactus Nigeria engaged more than 400 students from 40 tertiary institutions in leadership and entrepreneurial training. The programme tagged: “Top Ten for Ten Leadership Training Programme” took place at the Kwara State Univeristy (KWASU), Malete, Kwara State. According to the Coordinator, Mr. Michael Ajayi, the Enactus leadership programme is a yearly capacity development programme designed to em-

power participating students in areas of effective leadership, personal development and project management. It is also designed to prepare them for the task of making progress and creating a better and more sustainable world through entrepreneurial activities. The Vice-Chancellor of the institution, Prof. Abdulrasheed Na’allah, who was the chief host, urged the students to develop entrepreneurship and leadership skills, noting that this was one of the ways they could impact their communities and the country at large. Na’allah, who was represented by the Provost of the School

of Communication and Technology, Prof. Innocent Okoye, reiterated the commitment of the university towards the development of the students’ entrepreneurship skills, saying that “every student of KWASU no matter his or her course of study must have a business enterprise before graduation.” The Director of the institution’s Centre for Entrepreneurship Development, Dr. Muritala Awodun, stressed the need for all higher institutions in the country to include entrepreneurship in their curriculum. He said: “Every student must be an entrepreneur and they should be job creators and not job seekers. This is the function

Students of Ladoke Akintola University of Technology, Ogbomoso, Oyo State, during a community service programme.

of education. They must be responsible to themselves and the nation.” In her presentation entitled: “Seeing Possibilities Changes Lives”, the Country Director of Enactus Nigeria, Mrs. Adesuwa Ifedi charged participating students to open their eyes to possibilities, engage in creation of ideas, and embark on quality projects that could impact people’s lives and sustain development. Her words: “Think of ideas and innovations that can change the country. We challenge you to solve problems in your various communities and be great stewards of a great future. “I equally want to advise you to make effective use of the opportunities around you and develop abilities to attract employers to yourselves. You must be innovative, dynamic, environmentally aware and socially responsible for you to cope effectively in what I describe as a fiercely competitive world.” The Country Director also engaged the students in different brainstorming sessions in order to test and sharpen their leadership skills. At one of the three sessions that evening, the Vice-Chancellor urged the students to become solutions of Nigeria problem by making the country a better place. “I always disagree with people who say the country is not going to change for better, because I believe the power of the youth in transforming a country and the opportunity to make a change,” Na’allah said. According to Adesuwa, Enactus Nigeria in partnership with

EKSU’s contingent to NUGA hailed

kiti State University (EKSU) contingent to the just concluded 24th Nigerian Universities Games (NUGA) at the Obafemi Awolowo University (OAU) has been commended by the Vice-Chancellor, Prof. Oladipo Aina for winning two gold and one bronze medal at the sports fiesta. The Vice-Chancellor, who attended the opening ceremony of the games, noted that out of the 59 universities that participated in the one-week sporting competition, the university placed 15th position on the medal table. In the break-down of the winners at the games, Olufemi Damilola of English Department in the Faculty of Arts won Gold medal in Squash (Women Singles) and she also received an individual award as the Best Female player in Squash. Ajayi Omobobola an undergraduate in the Economics Department, Faculty of Social Sciences also won Gold medal in Taekwondo (Women) and she also went home with an individual award. The Bronze medal in Judo (Women) was won by Fasuyi Bisola of the Accounting Department, Faculty of Management Science. Praising them and their coaches for doing the university proud, Aina urged members of the university community to encourage student’s participation in sports.

Indigent students laud varsity over job offer Akorede Shakir, Hameed Muritala UNILORIN

welve indigent students of the University of Ilorin (UNILORIN), Kwara State have expressed gratitude to the university management for providing them the opportunities to participate in the institution’s Work and Study Programme (WSP). According to the beneficiaries of the programme, including Adeogun Jamiu and Olowookere Omolara, the duo who are 200 Level undergraduates at the Departments of Accounting and Economics respectively, the initiative is lifeline and financial support for their education. Tracing the genesis of the help, they recalled how in December last year, the students approached the university’s Counseling and Human Development Centre (UCHDC) for financial support to enable them continue their education on the campus.

Beneficiaries of the programme are They also recalled their appeal was “It should, however, be noted that forwarded to the office of the Vice-Chan- either engaged in office or field work, the students could only work for a cellor, Prof. Abdul Ganiyu Ambali, who and they are paid monthly, based on the maximum of two hours per day with directed the Technical and Entrepre- number of hours of work-done at the exemptions of weekends, so that their neurial Centre (TEC) of the university rate of N200 or N300 per hour for office studies and leisure times would not be to look into their case. and field work, which amounts to N8,000 affected in anyway,” part of the rules “Following the directives and after and N12,000 per month respectively. guiding the programme read. carefully reviewing our request, we were attached to the various units of the university as assistants,” they said. The work and study programme, they noted, is an initiative designed by the university authority to assist needy students acquire work experience and earn money to meet their financial needs while on the campus. To ascertain the academic standard of the beneficiaries, only students with a minimum Cumulative Grade Point Average (CGPA) of 2.50 points could benefit from the programme. Scene of a protest recently staged by students over LASU fees

EDUCATION | CAMPUS

National confab: Where are the youths? Taiwo Isola UNIMAID

ver the years, Nigerian youths are regarded as objects in which decisions concerning the future are forcefully impacted not a subject in the process of actualising that future. This kind of mentality has robbed Nigeria of its much potential and left it at the junkyard of history. When Britain colonial administrators lowered the Union Jack in Lagos on October 1, 1960, Nigeria was Africa's great hope. Its pool of talents, mass of fertile land and newly discovered oil promised economic transformation and a role leading independent Africa on to global stage. Fifty-Four years down the line, and despite our vast wealth - abundant natural resources, talents and human capacity endowment which the country and its people are endowed with, we as a nation have continued to struggle with most basic needs – that have been paralysed by lack of foresight and non-involvement of younger generations in its decision making processes. This has made each successive government launched its own agenda because there was no long-term goal and the will to pursuit such as a nation. This 'new regime, new agenda' is premised on the long-held ideology of leaders not having the future of the youths in mind in their policy making. And when they do, there are no clearly mapped-out actions to sustain such vision. The consequence of this is that youths cannot locate their future in the big picture of this nation. This in a way has built in the younger generations a sense of irrelevance which made some to result to violent activities. The just released list of delegates to the national conference is an indicator that Nigeria has not learnt from history. We are still recycling our failures and errors. If the essence of the conference is to chart the future for the country and its people, then why does the government keep the 'future owners' (youths) at the back bench?

Why has the country raised its bar so high that the younger generation cannot attain it? Here is a list where only a handful of the youths are represented. It is the big 'mamas' and 'babas' that will decide the future where they will not be part of. It is high time the government stopped treating the youths as strangers in the terrain of their own future. We are the leaders of tomorrow and we have the right to decide how our future should be charted. I hereby advocate active involvement of a considerable number of youth in the National Conference. I advocate effective representation of youths because of the fact that it is their future that is being decided, and this will build in them a keen sense of responsibilities unmatched by prevailing oppositions. We have tremendous role to play towards national development and I dare say that no policy of the government that does not involve active participation of youths will see the light of the day, and even if it does, the effect will not be lasting. While I am not in any way shifting the responsibilities of youths to the government, of course part of the mandates of the government is to incorporate the youths into the process of national development. Really, youths, not crude oil, will be Nigeria's most valuable resource in the 21st Century and it is only when youths are positioned into the process of national planning that the future can be secured. The plea, therefore, is that the government should involve many youths in the National Conference in order to avoid holding a conference where failed ideology, policies and thoughts are re-cycled.

It is the big 'mamas' and 'babas' that will decide the future where they will not be part of

Provosts, Micheal Otedola College of Primary Education, Prof. Olu Akeusola, with some of the fresh students.

LECTURERS' FORUM

Wednesday, March 19, 2014

EDUPEACE with Mahfouz A. Adedimeji

Rape: Traditional education to the rescue These days, the news we read or hear about students of our universities is usually discomforting. If they do not commit suicide because of a love relationship turned sour, as a law student of Obafemi Awolowo University, Ige Dipo, did this month, they commit unimaginable sexual violence. We are in trouble and we need to watch it. It is worrisome that sexual violence is becoming rampant on our campuses and the brutality with which it is done is blood-chilling. If students, who are conceived to be leaders of tomorrow commit such acts against themselves, it is a signal that the future of the society is bleak especially if decisive action is not taken. This decisive action lies with parents as will be subsequently highlighted. A few weeks back, a student of Bowen University, Opeyemi Odusanya, was savagely raped in Lagos for declining the sexual advances of some youths, perhaps students, in the neighbourhood. The rapists were so mean and heartless. According to The Punch newspaper, “they stabbed her in the stomach several times and ripped out her intestines”. They then sent a text message to the mother that her daughter was proud because she turned down their sexual requests and they killed her to teach a lesson. The lesson the sick minds wanted to teach was for young women to succumb to sexual advances against their wish, contrary to all our cultural, social and religious norms. Also last month, a student of the University of Ibadan, Taiwo Omolara Shittu, was raped and brutally killed at her home in Gbagi, Ibadan, by suspected students. The reason was not different from that of the late Bowen University undergraduate: some deranged youngsters wanted to have carnal knowledge of her at all cost. The case of a student of Obafemi Awolowo University was most pathetic. In September last year, the final year medical student in question was raped and murdered. The beasts in human skin, who were students too, removed her private parts for rituals and threw her lifeless body on the street. The unfortunate student was said to be nine when her father died and it was the mother who laboured and suffered till she got her educated till 600 Level in the medical school. The above incidents show that there is something fundamentally wrong with our students, hence our education. If the ultimate purpose of education is the development of a total person, a gentle man, what sort of education are the rapists and killers receiving? Education, according to Prof. Babs Fafunwa’s famous History of Education in Nigeria, is “the aggregate of all the processes by which a child or a young adult develops the abilities, attitudes and other

forms of behavior which are of positive value to the society in which he lives”. If the cultists and rapists prowling many campuses are Nigerians, therefore our education has failed to imbue “positive value” in them. It was in the past that crime was assumed to be a product of illiteracy. Nowadays, students who are supposed to have been educated in standard schools commit heinous sexual and other crimes on campuses and in the larger society. The issue is that if the foundation is fetid, the superstructure will not stand. The bane of our society is that parents have abdicated their responsibilities in search of lucre. In other words, the concept of “home” is dead in many families today. Parents are rarely at home to give “eko ile” or home training to their children any longer. Most children grow on the “training” they receive from television, home videos and the underpaid maids and security guards. A number of parents erroneously believe that they do the best for their children by just enrolling them in the expensive “best” schools and giving them time-wasting gadgets. There is less parenting and father-child, mother-child communication again among the latter day career parents. It is so bad that one girl asked her mother about menstruation the other day. The woman dismissed her daughter’s question and asked her to go and ask Google; after all, she ensured she had an internet-enabled cell phone. Clutching their fancy gadgets as if their lives depend on them, young men and women on campuses “ping” and “chat” their lives away discussing inanities. The death or near-death of traditional education portends danger to our society. The outcome of this danger is partly the deluge of sexual assaults that is now commonplace. The truth is that our society may not have peace until we pay more attention to home training or traditional education. Traditional education is the informal process through which a society evolves a total person. One of the core components of this education is character, the righteousness with which one imbibes what is good or positive and shuns what is bad or negative. The cardinal goals of traditional education are listed as follows: to develop the child’s latent and physical skills; develop character; inculcate respect for elders and those in position of authority; develop intellectual skills; acquire specific vocational training and develop a healthy attitude towards honest labour; develop a sense of belonging and to participate actively in family and community affairs; and to understand, appreciate and promote the cultural heritage of the community at large. l Dr. Adedimeji, lectures at University of Ilorin

BUSINESS WEDNESDAY, MARCH 19, 2014

WHAT'S NEWS Nigeria, Rwanda top African retail devt index

Nigeria and Rwanda are among the top five African countries with a rapidly growing retail sector, according to a new study by A.T. Kearney, a leading global strategy consultancy firm.

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Deep consumer understanding is key to marketing –Experts Marketing has swiftly moved away from mundane pattern to sophistication due to dynamic society informed by technology. Consequently, constant information about the changing consumer is the next big thing in marketing.

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FG to develop six new ports The Federal Government has resolved to partner with private investors in order to develop six green field ports. The deep seaports are Olokola in Ondo and Ogun states, Ibaka in Akwa Ibom State, Ogidigbe, Delta State, Agge, Bayelsa State and Badagry, Lagos State.

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BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) SIMEON OGOEGBULEM, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) SIAKA MOMOH, Asst. Editor (Industry) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter

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AYODELE AMINU, DEPUTY EDITOR, BUSINESS

ayodele.aminu@newtelegraphonline.com ayodeleaminu@yahoo.com

Jonah Iboma

igeria will be holding Africa’s only slot to the Expert Working Group meeting starting today in Singapore as part of the beginning of discussions that will herald the expected handover of the control of the Internet by United States of America to Internet Corporation for Assigned Names and Numbers (ICANN). Mr. Lanre Ajayi, The President of Association of Telecommunication Companies of Nigeria will be representing Africa in the working group of ICANN, the non-for-profit body, which manages the Domain Name System (DNS). The DNS is the system that translates domain names into Internet Protocol addresses. The Singapore meeting, which had been scheduled as part of annual multi-stakeholders deliberations on Internet governance, will be focusing on the sudden announcement by the US government of its desire to hand over control of the Internet, Ajayi confirmed. The US Department of Com-

L-R: Head, Operations and Technology, Union Bank Nigeria Plc, Mr. Lucky Jayaratne; Executive Director, Retail and Commercial Banking {North}, Mr. Ibrahim Kwargana; Group Mananing Director and Chief Executive Officer, Mr. Emeka Emuwa, at an interative session with the media in Lagos... on Monday.

Nigeria leads Africa to global Internet handover confab merce announced last Friday that it was finally ready to relinquish government control over the internet and set out plans to ultimately let ICANN take over its long awaited control. The major control in question is the system of Web addresses and domain names that organise the Internet, which ICANN has managed under a contract with the Commerce

Department for more than a decade. Ajayi said the development was a positive one for the global internet governance community. “It is a welcome development. People have been asking for the US to hand over the control of the Internet to ICANN and it is nice that this is being done now,” he stated.

have to be designated and declared as ports of origin and ports of destination before they could operate. “The Inland Container Depots are ports of origin and ports of destination. The Federal Government is very serious about declaring them as such. The ICDs are being concessioned to private operators

He confirmed that there were threats to the stability and central control of the Internet but that with the expected handover, these will be addressed. The Internet was developed by the United States Military under its ARPANET (Advanced Research Project Agency Network) project established in 1969, which was later turned over to the commercial world that developed it to the current level it is today. ARPANET was a large wide area network created by US and it served as a test bed for new networking technologies linking many Universities and research centres. This made the control of the Internet to be US Government matter. However, as the Internet has assumed a major global communication, entertainment and information infrastructure, moves have been made in the last decade to wrestle its control from the United States. According to Ajayi, a general

CONTINUED ON PAGE 32

Six dry ports yet to assume ports of origin, destination status Bayo Akomolafe

he Inland Container Depots (ICDs) also known as dry ports, in the six geo-political region in Nigeria are yet to assume the status of ports of origin and destination. It was learnt that unless they are declared as ports of origin and destination, cargo may not be consigned to them. The Executive Secretary and

Chief Executive Officer of Nigeria Shippers’ Council (NSC), Barrister Hassan Bello, said in an interview that this was the hurdle the council was battling to solve. He explained that as soon as the dry ports were designated as ports of origin and ports of destination they would become operational. Bello said: “There is a legal framework, because these ports

Rates Dashboard

DELE ALAO, Brands/Marketing Editor ABDULWAHAB ISA, Finance Editor

www.newtelegraphonline.com/business

CONTROL The Internet is now to be controlled by a global non-profit organisation.

WOLE SHADARE, Aviation Editor CHRIS UGWU, Capital Market Editor

NEW TELEGRAPH

SKYE BANK: GONE WITH HAKUNA MATATA?

INFLATION RATE February 2014..........................7.70% January 2014 ...........................8.00% December 2013.......................8.00%

LENDING RATE InterBank Rate. . . . . . . . . . . 10.75% Prime Lending Rate. . . . . . 17.01% Maximum Lending Rate. .24.90%

EXCHANGE RATE

(Parellel As at Mar. 14)

USD. . . . . . . . . . . . . . . . . . . . . . . N172 Pounds. . . . . . . . . . . . . . . . . . . . N282 Euro. . . . . . . . . . . . . . . . . . . . . . . N240

EXCHANGE RATE

(Official As at Mar. 14)

USD. . . . . . . . . . . . . . . . . . . . N157.74 Pounds. . . . . . . . . . . . . . . . . N262.27 Euro. . . . . . . . . . . . . . . . . . . . N180.76

BUSINESS | NEWS

PROGRESS Nigeria is making progress in the retail market.

igeria and Rwanda are among the top five African countries with a rapidly growing retail sector, according to a new study by A.T. Kearney, a lead-

Nigeria leads Africa to global Internet handover confab C O N T I N U E D F R O M PA G E 3 1

meeting is expected to convene on Sunday in Singapore where all major stakeholders will be looking at the US expected handover. The Nigerian Internet registration association, NiRA will be among attending the event with a strong delegation Meanwhile, ICANN said it had last Monday launched a process to transition the role of the United States Government relating to the Internet's unique identifiers system. The US Government's current responsibilities to be transitioned include the procedural role of administering changes to the Domain Name System's (DNS) to the authoritative root zone file - the database containing the lists of names and addresses of all top-level domains – as well as serving as the historic steward of the unique identifiers registries for Domain names, IP addresses, and protocol parameters.

Nigeria, Rwanda top African retail devt index ing global strategy consultancy firm. The study provides global retailers with direction on entering specific African countries. The new study is designed to help large, organised retailers determine where and how to best enter Sub-Saharan Africa’s rapidly growing retail sector. The study noted: “Rwanda, Nigeria, Namibia, Tanzania

and the people are ready to run the dry ports. “Dry ports are conceived to solve the problem of perennial port congestion. They are ports in all aspects. It is just that you do not see water. But cargo can be consigned from anywhere to these ports. They are in six locations for now: Abia State, in Ibadan, Kano, Funtua, Maiduguri and others. We are also trying to bring up one each in Kaduna and Gombe. The essence is to have the ports brought to the doorstep of the shippers.” The executive secretary said when the ICDs are ready, shippers would be clearing cargo from the inland instead of going to the seaports. But Bello explained that there must a legal framework

and Gabon occupy the top five places of the inaugural A.T. Kearney African Retail Development Index (ARDI). Rwanda ranked top due to its higher potential and urgency to enter the country.” Other countries in the top 10 included Ghana, South Africa, Botswana, Mozambique and Ethiopia respectively. Rwanda’s performance in

this study may not be surprising as the country has seen tremendous transformation in policy and economic trendsthat have paved way for economic growth and large investment interests over the last decade. The ARDI was based on four elements: market size, market saturation, country risk, and time and the top 10 markets in

the Index are segmented into three high level approaches: basics, move quickly, and differentiate. While only Nigeria and Gabon managed to fit the ‘Move Quickly’ category due to rapidly evolving retail dynamics and demographics, with some established retail players and many other global retailers planning entries.

L-R: Chief Operating Officer, Dufil Prima Foods Plc, Mr. Adhi Narto; President, Nigerian Heart Foundation (NHF), Prof. Oladipo Akinkugb; Executive Director, National Housing Fund, Mr. Kingsley Akinroye and Managing Director, Paslim Fitness Centre, Mrs Pamela Umebuani, during the endorsement of Power Oil by Nigerian Heart Foundation, held at Protea Hotel, Ikeja, Lagos..

Six dry ports yet to assume ports of origin, destination status C O N T I N U E D F R O M PA G E 3 1

Sanctity of Truth

Wednesday, March 19, 2014

and it must be gazetted. He stressed that the Minister for Transport, Senator Idris, has already set up a committee and the committee had submitted its report on the issue “In a very short time they will be declared as ports of origin and ports of destination. People can consign cargo or export cargo from the dry ports. “The ICDs are very significant because they are ports like the Tincan Island Port. They are ports in all ramifications in the sense that you will have the presence of Nigeria Customs Service, Nigerian Ports Authority, terminal operators, clearing agents and other shippers there. With this, the economy would get a boost and there will be industrial clusters around them like warehouses and haulage businesses and other ancillary industries.

SEC may leverage CFA to enhance investment scheme

Chris Ugwu

ne of the initiatives the Securities and Exchange Commission (SEC) might undertake this year to boost collective investment scheme in the country, is to adopt CFA model, a common standard for reporting on performance so that investors can compare one from another. Director General, SEC, Ms. Arumeh Oteh, said this at a forum in Lagos. She said the commission is very pleased that there was already a body of people who are trained in the CFA qualification because it is a very comprehensive qualification for anybody in investment management. The CFA Society Nigeria serves its members by provid-

ing a regional forum for the discussion of investments, economics and finance. The organisation promotes high standards of expertise and conduct among investment managers and analysts. Oteh said the commission was also working through the Nigerian Capital Market Institute with the Financial Planning Association to try and ensure that it could train young people to become financial planners. "Maybe those who graduate from law school, in economics among others, we can put them through a booth camp programme that then prepares them to be able to affiliate with some of these fund managers and be able to sell their products to investors. “That is something that we are very keen to do because we

think it will also help the job situation in Nigeria. It is something that will take us time to be able to do because it is not just within our own hands in that respect. “In 2010 we first drew attention to the fact that as a retail investor, you may consider as an alternative instead of investing directly yourself while you are not so familiar with the company, that you may seek the services of a financial expert and go through collective investment schemes. “Before we did that, we decided to enhance the regulations of fund managers because you do not want a situation where you are encouraging people to go to mutual funds and it turns out that the fund managers will now steal their money," she noted.

BUSINESS | INVESTOR

BUSINESS | INVESTOR 33

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Demutualisation: Need for transparency Chris Ugwu

n charting the course of actualising a world class market and also ensure that enough time is allowed and due process followed, the Nigerian stock exchange (NSE) has concluded arrangement to hire two financial advisers (one International and one Nigerian) to undertake the assignment of advising it through the process of demutualisation. NSE in a circular recently said it is seeking invitation for expressions of interest for financial advisory services towards its demutualisation. According to the Exchange, in furtherance of the efforts to commence its demutualisation, the National Council of the NSE has given approval to engage the services of a consortium of two financial advisers (one International and one Nigerian) to undertake the assignment of advising it through the process. Merits Demutualisation is a process by which a member-owned Exchange is converted to a shareholder-owned Exchange. With demutualisation, the NSE would be exposed to robust corporate governance; enhanced efficiency and transparency associated with publicly quoted companies. Demutualisation allows the Exchange to be listed on its own floor where investors would have the opportunity of investing in the self-regulatory organisation. Besides, it allows the Exchange to be competitive and to take up investments that could enhance efficiency and returns for shareholders. Demutualisation has become a worldwide phenomenon. Exchanges that have demutualised include the Singapore Stock Exchange, Japan's Nikkei and New York's NASDAQ among others. Each of these Exchanges has gained global recognition and patronage since they went public. The idea of demutualising the NSE, which was mooted in 2001 under the administration of the former Director General, Ndi Okereke-Onyiuke, has continued to generate controversy among the operators in the market. Okereke-Onyiuke had explained that the global securities markets terrain is replete with cases of the transformation of Exchanges from not-forprofit-mutual- membership organiSations to for-profit limited liability companies. According to her, "Demutualization promises to improve the

They should start establishing a second stock exchange so that there will be competition, innovation and creativity governance and overall efficiency of stock exchanges and it was proposed for implementation at the NSE solely for these reasons. She noted that the whole process of demutualiSation of the Exchange is in its infancy and still evolving; adding that to say that it was an arrangement for the leadership of the Exchange to corner the shares of the demutualised Exchange was baseless. She noted that demutualisation is also part of the enterprise transformation programme of the Exchange, which the council has commissioned an international consulting firm, Acenture, to handle. Controversies But since the plan was conceptualied, it has pitched key capital market operators against each other. The delay in showing a genuine commitment to the process was believed in some quarters as one of the reasons that led to the sack of the former director general, Ndi Okereke-Onyiuke aside from the allegation of financial mismanagement and corporate governance lapses. Some critics of the process had argued that some clique in the leadership of the Exchange intended to hijack the demutualisation on selfish interest and called on the regulatory authorities to shelve its plan to commence the process. Operators' stand The Chief Executive Officer, Modus Market Concepts Limited, Mr. Brian Ojukwu, in a chat with New Telegraph said that plan to demutualise NSE at a period when crisis of confidence is still rocking the stock market was a grand ploy to take the control of the Exchange by a certain clique. Ojukwu noted that the phenomenon of demutualsation in advanced countries arose because of global competition and in search for greater returns, which according to him, was triggered by deregulation, globalisation, internationalisation, technology and investors behavior. He explained that deregula-

Onyema

tion of the capital market in Nigeria was partial because there is only one existing stock exchange in the country, which plays a monopolistic role. "Ours is a mono product market and mono products are considered shallow and don't attract foreign investors, demutualisation of Nigerian Stock Exchange now is like putting a cart before the horse. It is a misplaced priority, it is not due under the present circumstances," Ojukwu said. He noted that the priority of the capital market under the current situation was the attraction of more companies to be listed on the stock exchange so that the stock market can indeed serve as a barometer for measuring the economy. "There are many companies with good fundamentals that are yet to be listed on the Exchange, so regulatory authorities should intensify their drive to attract more quality listings," Ojukwu said. He said in order to bring about growth in the capital market; the regulatory authorities should also start to identify creative product innovations that would trigger competition for proper deregulation that would lead to demutualisation at the appropriate time. "They should start establishing a second stock exchange so that there will be competition, innovation and creativity, which is the trend in advanced capital market". He listed the problems of the Nigerian capital market to in-

clude the paucity of multiclass assets, lack of securities and appropriate judicial system, which according to him, would make the market shallow and unattractive to foreign investors. Shareholdersâ&#x20AC;&#x2122; perspective Sir Sunny Nwosu, President Independent Shareholders Association of Nigeria, noted that the issue of demutualisation created crisis for a market that is trying to restore investor confidence that was essentially lost because of regulatory ineffectiveness and arbitrariness. Nwosu advised the regulatory authorities to be careful in handling the issue, noting that the decision to demutualise the Exchange had to be mutually agreed upon by all stakeholders to ensure that it was not hijacked by a certain clique. Regulatorsâ&#x20AC;&#x2122; view However, the Director General of Securities and Exchange Commission, Ms. Aruma Oteh at the Women in Management, Business &Public Service (WIMBIZ) forum held in Lagos last week, reassured capital market stakeholders that the guidelines on the demutualisation of the Exchange would be thoroughly reviewed by the Ministry of Finance in such that the interest of the public is not affected. She expressed optimism that the exercise would be done in a transparent manner to ensure that the owners of the Exchange get real value on investments at the end of the exercise. Oteh disclosed that the min-

istry of the finance is already reviewing the guidelines on the demutualisation of NSE, developed by the industry committee and demutualization board. "We agree about the importance of demutualisation to Nigerians and that is why we started early on the issue. In 2011, we set up an industry committee on demutualisation who did an excellent work and presented the report to the board. We also consulted with the Deputy Chief Executive Officer of the Toronto Stock Exchange that advises countries of the world on demutualisation to work with us in developing guidelines and the board considered it and we submitted it to the ministry of finance. "I believe that the ministry of finance is reviewing it to make sure that public interest is not affected by the issue and that is why they are being diligent and taking their time to consider these issues. I believe that government is aware of the importance of public interest and that is why they are taking time to review this issue and the guideline we submitted to the ministry of finance is not just focused on NSE but guideline that can be used for any other demutualisation work anytime. "Our position is that if there will be demutualisation exercise, let it be that the owners real value and the Exchange that was inherited in 2010 is not the Exchange today. It would bring more value to the owners than it would have brought before," she noted. Oteh commended the management of the NSE for the idea to hire financial advisers to advise them on the process. "Am very proud and happy with both the CEO of the Stock Exchange and the Chairman of the board of demutualisation Committee of the Stock Exchange for hearing that they have brought in financial advisers to advise them, so I think it is a good thing that they are also preparing themselves so that when these guidelines are finally out, they too will be ready," she said. Conclusion While pursuing the demutualisation process, the concern expressed in some quarters that some cliques with self-aggrandizement could buy up the Exchange should be looked into. This is because, if this is allowed, the Exchange may fall into the hands of individuals and groups who lack the capacity to sustain the purpose of the process.

BUSINESS | BRANDS & MARKETING

Sanctity of Truth

Wednesday, March 19, 2014

Skye Bank: Gone with Hakuna matata? DISCONNECT After dropping Hakuna matata in 2008, has the bank really connected with its stakeholders in the now Say Yes campaign? Dele Alao

emember the Hakuna matata or ‘Don’t worry’ campaign from Skye Bank? The campaign became synonymous with the bank before it was dropped in 2008. Hakuna matata became an anthem in virtually every home and ring-tone of several phones. It obviously enjoyed wide acceptance until the interruption that saw the emergence of the ‘Yes’ television commercial. Stakeholders who initially wondered why owners of the bank would stop such a memorable campaign, are also still wondering if the current Say Yes campaign has delivered the same value almost six years after it was launched. For Skye Bank which evolved into one of the top financial institutions in Nigeria after its very seamless consolidation exercise in 2006, the resting of the popular Hakuna Matata campaign may not have really helped the brand going by investigations. Investigations by the New

INSIGHT Experts rally round to give fresh perspective on consumer understanding

arketing has swiftly moved away from mundane pattern to sophistication due to dynamic society informed by technology. Consequently, constant information about the changing consumer is the next big thing in marketing. This was the view of the three speakers on the marketing imperatives for the emerging Nigerian market space, a lecture organised recently by Lagos Business School Alumni Association and sponsored by Proximity Communications Nigeria. The speakers with deep understanding of marketing approached the topic from different perspectives, but unanimously established that the

Telegraph showed that only a few people could easily connect with the on-going ‘Say Yes’ compared to the Hakuna Matata campaign. The ‘Yes’ campaign was the forerunner to the Hakuna Matata campaign. All the creative campaigns were developed by CentreSpread Advertising. Rasheed Bolarinwa of the corporate affairs department of the bank said that the changing of the campaign to ‘Say Yes’ was in order. “You can’t use the same campaign all over. Hakuna Matata served a purpose, it was to entrench the brand in the minds of customers, and it achieved that purpose,” Bolarinwa said. Also, former head, corporate affairs of the bank, Kayode Akinyemi, who supervised the introduction of the Hakuna Matata campaign said he was happy the campaign was well received. “I was very pleased as the man at the helms of affairs of the bank’s corporate communications then, not only because it added to my professional profile and credentials, but more importantly, it was well received by the intended audience. That is the bank’s customers and the general public because of its uniqueness and the clarity of message. Above all, it added to the bank’s bottom line and also boosted its image,” Akinyemi said. Also, the Public Relations Manager of StarTimes, Mr. Irete Anetor, noted that the campaign got a lot of widespread

Kehinde Durosinmi-Etti, MD, Skye Bank

sing-along from all age group because of the popular cartoon, The Lion King. Anetor said: “Skye Bank using the Thematic Campaign - Hakuna Matata, created an aura of “relax, we care and we can solve your financial troubles,” which resonated a lot of confidence, care, trust and friendliness, not just in the mind of customers, but also in the bank. This is akin to “Don’t worry, be happy.” Also, a public relations consultant and brand analyst, Ganiyu Olowu, apparently referring to the change in campaign, noted that the essence of strategy in any field was re-engineering, reorientation and atimes retrieval or withdrawal, adding that a system must reinvent itself to be fit. “In an attempt to re-energise a brand, its architect, base on

corporate goal or marketing challenge, are pushed to create a change in communication campaign through its content, cast, volume, language variation and spend. Some of these probably have happened in the case of the rested Hakuna Matata commercial by Skye Bank,” Olowu said. He added: “As for me, the Hakuna Matata campaign resonates with most people. It provides opportunity for curiosity which is one of the great elements of any advertising copy. And it also propelled a didactic/ motivational message for most people- Don’t Worry. Such advert cannot be forgotten in haste. Brain remembers evergreen messages. On the other hand, it also brings to fore unlimited creativity by the thinkers around brand Skye Bank. Looking beyond the line or the basic, it

drives the brand to profitability and builds higher brand equity.” Furthermore, Rilwan Adebola Fashina of Standards Organisation of Nigeria (SON), described Hakuna Matata as a compelling campaign that was novel. However, the current campaign has not gone down well with people. For instance, Fashina said, the Say Yes campaign still has a long way to go. “Say Yes still has some way to go in catching up with the tempo,” he said. Also, Olowu said the Say Yes campaign though ‘beautiful,’ “doesn’t have enough recall potency which came with “Hakuna Matata.” On his part, Anietor, described the ‘Say Yes’ campaign as a disconnect. “‘Say Yes’ is a disconnect from the brand character of friendliness, care, confidence and trust created with the Hakuna Matata campaign theme. The ‘Say Yes’ campaign theme is perceived by people as too ambiguous and doesn’t connect with the customers in relations to the previous campaign,” Anetor said. But Akinyemi said: “Hakuna Matata is like saying yes in another way. If people are now saying there is disconnect, I don’t see it that way.” As it were, the bank might have lost its consciousness in the minds of stakeholders by resting the popular “Hakuna Matata.”

Deep consumer understanding is key to marketing –Experts marketers who need to grow their companies’ ‘bottom-line must understand the consumer through research and analysis data available. “Lack of understanding of consumer needs in certain cases has led to trial and error of marketing strategies and closure of companies,” they observed. In his submission, head of marketing, West Africa-consumer banking at Standard Chartered Bank, Chima Nwuke, who is an apostle of market segmentation, said marketers must have a clearer understanding of their target segments. “You need to put your consumers different baskets and every basket should be a homogenous entity. And how you reach and preach to them depends on

their lifestyle and media habit,” he said. In addition to consumer understanding, he said the 2014 marketing manager must be somebody who had clear understanding of the entire value chain, noting that “at value chain noting that “at any point the marketer must know whether the problem is distribution or advertisement. As a marketer you also need to track projects because if it is messed up on the way, then there is a problem.” He advised marketers to unlearn so that they can start to learn the new things. Also, the Marketing Director for Africa at GlaxoSmithKline consumer Healthcare, Reuben Onwubiko, who believes in the

use of metrics in marketing to measure impact, said marketers need to develop the right insight from the data that exist today and also recognise the coming trends through digitalisation of the world. Onwubiko also emphasised the need for marketers to understand consumers’ media consumption habit to reach target audience effectively. He said: “For appropriate marketing to the right audience, marketers need to involve more of research to understand their consumers better. They need to engage in research and interpret the data generated.” The Group Marketing Officer, Dangote Group of Companies, Oare Ojeike, who was worried that marketers were

not changing in line with the times, focused on youth as important marketing segment. He said that marketers need to understand the consumer of tomorrow, explaining that the audience has changed and marketers need to change, adding that marketers who don’t understand the youth market don’t have chance in the Nigeria market space because the next generation was youth. Also speaking, the Chief Executive Officer, Proximity Communications Nigeria, Rotimi Olaniyan, the sponsors of the annual lecture, said that the lecture was a great opportunity to bring the marketing managers together to share ideas and impact knowledge on the next generation of marketing idea.

BUSINESS | BRANDS & MARKETING 35

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Wednesday, March 19, 2014

Chivita Active leverages on commercials CAMPAIGN Chivita Active bonds with consumers in a new Radio/TV commercials.

s competition in the marketplace for consumers’ loyalty gets fiercer and fiercer still, lifestyle positioning has become an increasingly popular approach among brand managers, especially in categories where functional differences are hard to maintain. By connecting with consumers on a more personal level, contemporary brand managers hope to break free from aggressive competition and carve a niche for their brands through line extension that speaks to specific lifestyles. Because lifestyle brands get recognition through the experiences they are associated

with, their radio jingles and television commercials are usually developed to draw attention to the positive emotion that is likely to accrue through experiences with the brand. For instance, the new radio and TV commercials on Chivita Active from the House of Chi Limited, maker of the popular range of 100 per cent Chivita Premium fruit juice, draw heavily on benefits of consuming Chivita Active by people who desire a healthy and active lifestyle. “Although the brand can equally be enjoyed by all, it is targeted more at people who are eager to do more and thereby get more out of life. This is because Chivita Active fruit juice contains six citric fruits juices and added vitamin C. The citric fruit juices are orange, grapefruit, lime, tangerine, lemon and mandarine,” Managing Director of the CHI Limited, Mr. Deepanjan Roy, said.

Exposing the health benefits of the brand, the radio commercial said: “Some days, you really just want to stay in bed. Don’t you? Days when you have so much things to do in so little time, like wade through traffic, hold meetings, make presentations, submit reports, pick up laundry, visit parents, pick the kids, hang out with the girls, back to the gym, make dinner, tell bed time story. But not to worry, just get active with Chivita Active.” The commercial goes on to say that, Chivita Active helps you get more out of life. You work better, play harder and do so much more and success follows. The 60-second TV commercial opens with an executive meeting and moves on to a workout on the basketball court before panning on to a grueling photo shoot at a modeling session and ending the day on the dance floor.

The TVC depicts an activitypacked day that is sustained by the perfect choice of refreshment for an active life style “Undoubtedly, individuals who enjoy active lifestyles often participate in energysapping activities that include meetings, recreation sports, outdoor hobbies and an active social life. This is because a healthy active lifestyle is one that includes a healthy diet and a regular exercise plan. A healthy and active lifestyle is a lifestyle that many people of all ages strive for, and with a little effort, it is entirely possible to achieve through some simple life changes “Interestingly, Chivita Active is a perfect fit for people with active lifestyles who also desire a healthy life because the fruit juices contained in the juice are essential to

Noah’s Ark launches Boko Halal NEW An advertising agency, Noah’s Ark Communications, explores new way to tackle poor reading culture.

L-R: Group Chief Marketing Officer, Dangote Group, Mr. Oare Ojeikere; Chief Executive Officer, Proximity Communications, Mr. Rotimi Olaniyan; Head of Marketing (West Africa), Consumer Banking, Standard Chartered Bank, Chima Nwuke; Africa Marketing Director, Consumer Health Care, GlaxoSmithkline, Consumer HealthCare, Mr. Rueben Onwubiko and Director Strategic, Proximity Communications, Mr. Chris Oyetayo, during the Proximity Marketing colloquium held at Pan-African University, Victoria Island, Lagos.

BENEFIT Chief executive officer and founder, WPP, Sir Martin Sorrell, ‘pockets’ £22m.

PP shareholders keep trying to rein in chief executive officer and company founder, Sir Martin Sorrell, but the wily fox is rather more adept at escaping their clutches. Last year 60 per cent of shareholders revolted over his £17.6 million package, leading to changes aimed at

WPP’s Sorrell confounds shareholders with £22m reducing it. And this year Sorrell has trousered £22m. This is thanks to £17 million of share rewards garnered between 2009 and 2013 under the now-scrapped LEAP incentive scheme plus £5 million under a separate arrangement. Sorrell’s 1.5 per cent stake in the £17 billion company is now worth about £250 million. Sorrell will argue that the company’s value has trebled

in recent years and over the past year it’s the seventh-best performer in the FTSE100. Shareholders will grumble that he’s still paid too much and question if, at 69, he’s the right man to lead the company into battle with the merged Omnicom/Publicis giant and threats from the likes of Google and Facebook. At the very least they’re likely to demand some clues about a succession plan.

a healthy life. For instance, limes contain unique flavonoid compounds that have antioxidant and anti-cancer properties. While these flavonoids have been shown to stop cell division in many cancer cell lines, they are perhaps most interesting for their antibiotic effects. In several villages where cholera epidemics had occurred, the inclusion of lime juice during the main meal of the day was found to have been protective against the contraction of cholera,” the managing director said. Roy further said: “One thing we have always tried to do is provide our consumer a complete and balanced range of fruit juice offerings, so that we are ready to fulfill their needs irrespective of whatever they may be from the product or the lifestyle standpoint.”

etermined to reverse the trend of low reading culture in the country, Noah’s Ark Communications has launched a creative campaign tagged: Boko Halal. Boko Halal is a corporate social responsibility initiative of Noah’s Ark. The Lagos-based advertising agency recently ranked the second most creative ad agency at the Lagos Advertising and Ideas Festival. The Boko Halal initiative is well represented as a social cause towards changing the future of the Nigerian child through renewed and reinvigorated reading culture. “The objective of the Boko Halal initiative is not to tackle or challenge Boko Haram in any way, but a project with a voice of its own and the goal to ensure that every Nigerian child is educated and embrace reading which is the only way the nation can achieve the much-desired greatness,” a statement from Noah’s Ark said. Boko Halal, the young book worms, is a call to all citizens to stand up for the Nigerian child’s right to education, especially in Northern Nigeria.

Boko Halal challenges Nigerians to take a stand and enjoined Nigerians to pick up the book as the most potent weapon for driving social change. Furthermore, Boko Halal is a collection of young bookworms driven by the burning desire to fight ignorance with a strong reading culture. The leader of Boko Halal is a colorful bookworm mascot reading a book. In another statement issued in Lagos by Noah’s Ark, Boko Halal metaphorically described Nigeria as an indivisible book, adding that the world is waiting to read our success stories hence every citizen should play its part. “No Nigerian child is left behind. From Zungeru to Enugu to Abeokuta to Abakaliki, this is the time to send out a new message. This is the time to let our children know that the book, or Boko, or whichever name it goes by, and whatever language it is written in (Arabic, Chinese or English), it is the only way to that great future we all like to talk about,” the statement said. “Today is the day to read the handwriting on the wall. It’s all too clear. It is time we rewrite the current story and evolve a sustainable culture where every child has an opportunity to be the best they ought to be. This is when the world can truly look up to us as the giant that indeed we are. Dear Nigerians, today is the day for Boko Halal,” the statement said.

36 BUSINESS | MARITIME

Sanctity of Truth

Wednesday, March 19, 2014

FG to develop six new ports HUB New deep seaports that will make Nigeria the hub of maritime activities in the West and Central Africa coming. Stories Bayo Akomolafe

he Federal Government has resolved to partner with private investors in order to develop six green field ports. The deep seaports are Olokola in Ondo and Ogun states, Ibaka in Akwa Ibom State, Ogidigbe, Delta State, Agge, Bayelsa State and Badagry, Lagos State. Five of the ports are awaiting the Federal Executive Council (FEC)’s consideration. Already, FEC has approved the development of Lekki Deep Sea Port in order to handle bigger vessels. Transport Minister, Senator Idris Umar, disclosed this

at the Nigerian Maritime Expo (NIMAREX) held at Eko Hotel Expo Centre, Victoria Island, Lagos. He explained that the deep port would create employment opportunities under the Public Private Partnership (PPP) initiative. The minister added that the groundbreaking for the construction of the port would be performed soon. Umar said that the steering and project delivery committee which was constituted last year on Ibaka Deep Seaport in Akwa Ibom State had submitted its draft report, adding that the transaction adviser had produced initial due diligence report as well as the Outline Business Case (OBC) on the port. Umar explained that discussions were on between the Federal Ministry of Transport, the Nigerian Ports Authority (NPA) on one side and Lagos State Government as well as some investors to develop the Badagry Deep Sea Port. “Efforts are also being made to initiate similar arrange-

Traders seek review of import waivers, concession ELIMINATION

Traders have said waivers and exemption must be granted to eliminate competition.

he National Association of Nigerian Traders (NANTS) has called for the establishment of an independent body to review all import waivers and concession applications in order to ensure transparency and accountability. President of the Association, Mr Ken Ukaoha made the call in a statement in Abuja. He stressed the need for adequate and appropriate laws to guide, control and regulate the use of the instruments. Ukaoha said that the body would receive and review all applications for waivers, exemptions or other forms of import duty concession and advise the president on the merit of such applications. According to him, public policy could only be measured by its impact in promoting the common good.

Ukaoha added: “Weak institutions produce dysfunctional policies and dysfunctional policies only breed corruption, waste and retrogression, and this is what we are currently facing with the waivers and concessions.” NANTS said the independent body could be drawn from the private sector, civil society, consumer associations, academia and representatives of relevant government agencies such as the Ministry of Finance, agriculture and Nigeria Investment Promotion Council. He declared that the use of waivers and concessions was one of the legitimate tools available to any government in its pursuit of economic development and poverty eradication. Ukaoha stressed: “It should be mandated to monitor the use of such concessions to ensure that the set targets are met. “We advocate the setting up of an administrative body in the form of the International Trade Administration Commission (ITAC) in South Africa.

ments with Ogun and Ondo governments and some investors to develop the Olokola Deep Sea Port,” he added. The minister declared that the contract for the consultancy services for the establishment of a port at Ogidigbe near Escravos as part of the Gas Industrial Park with Free Zone status was awaiting the FEC approval. He noted that the gas park is expected to be the hub for gas revolution initiative of the Federal Government. Also, Umar stated that a pre-

liminary joint inspection had been carried out by the Federal Ministry of Transport, NPA and Bayelsa State government for the development of Agge Sea port. He noted that the state government had already commissioned a reputable consultant who had carried out extensive studies for the development of the port. Umar said that the Federal Government was committed to the resuscitation of the Calabar Access channel, saying

that government had approved the establishment of a Calabar Channel Management Company, a joint venture between NPA and Niger Global Limited in order to guarantee sustainability of the channel. According to him, the contract for the dredging of River Benue was being processed for FEC’s consideration and approval. He listed other river ports being processed as including Baro, Oguta and Lokoja river ports.

L-R: Emeka Akabogu of Akabogu and Associates watching the Chairman, Nigerian Shipowners Association (NISA), Chief Isaac Jolapamo and Chairman, Nigeria Maritime Expo (NIMAREX) Planning Committee, Mrs. Margaret Onyema-Orakwusi, presenting a plaque at the just-concluded expo in Lagos.

Ship owners to govt: Implement reports S hipowners under the aegis of Nigeria Indigenous Shipowners Association have urged the Federal Government to implement the report of the Presidential Committee on Development of the maritime industry. The committee was set up by the president and chaired by the Transport Minister, Senator Idris Umar. They also advised the Federal Government to remove the waiver clause on the Cabotage Act of 2003 to support the efforts of the Nigeria Ship Owners (NISA) especially as they owed indigenous banks over half a trillion naira. Chairman of the association, Chief Isaac Jolapamo, in his address at the Nigeria Maritime Expo (NIMAREX) tagged “100 years of maritime development in Nigeria,” held at the Eko Hotel and Suites in Lagos, explained that the shipping sector was faced with nu-

merous challenges. He said: “One quick way of resolving the situation we have found ourselves in the shipping sector today is by implementing the report of the Presidential Committee on Development of the maritime industry set up by the president and chaired by Senator Umar.” Jolapamo noted that the country had not paid the required attention to the shipping sector after 100 years of existence. The association advised the Federal Government to give urgent attention to the shipping sector and revive it. He noted that the country was struggling with getting it right especially in the indigenous ownership of key operations in the sector. The chairman added that the legacy laid by the colonial masters who were the initiators of the shipping sector had

a framework, which has not been developed since Nigerians took over. He said: “Our colonial masters set up a framework; they built schools and till today, some of the mission schools are about the best in the country because of their discipline and personal development programmes. Also speaking at the event, the Chairman of NIMAREX, Mrs. Margaret Onyema-Orakwusi, said that the prosperity of the country lies in the exploitation and harnessing of the maritime resources. He added that the key focus of the forum which is organised by the Nigerian Indigenous Ship Owners Association(NISA) with the collaboration of the Federal Ministry of Transport and other stakeholders in the industry will help position the maritime industry.

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Wednesday, March 19, 2014

LOSS For lack safety standard, a shipping line lost out in a case with government. Stories: Bayo Akomolafe

rickety vessel, MT Agbomien, has been asked by the Court of Appeal in Lagos to pay N7 billion to the maritime regulator, the Nigerian Maritime Administration and Safety Agency (NIMASA), for non-c0mpliance with safety standard. The ship was detained by the agency in accordance with the provisions of the Merchant Shipping Act 2007. In a unanimous judgment on the appeal filed by NIMASA, the Appeal Court, on Friday, reversed the earlier judgment of the Justice Okon Abang of the Federal High Court, which

Court orders tanker to pay NIMASA N7bn over lack of safety awarded N6.8 billion against NIMASA in favour of Hensmor Nigeria Limited. According to a statement by the agency’s Deputy Director, Public Relations, Mr. Isichei Osamgbi, yesterday, the lead judgment was read by Justice Chinwe Iyizoba (JCA) and supported by Justices Sidi Bage (JCA) and Rita Pemu (JCA). The Court of Appeal agreed with the arguments of the counsel to NIMASA, Mr. Louis Mbanefo (SAN), Chief Adegboyega Awomolo (SAN) and Dr. Fabian Ajogwu (SAN) and allowed the appeal on the ground that there was no credible evidence upon which the lower court entered judgment in favour of Hensmor Nigeria

Limited. The respondent was represented by Mr. Kola Awodein (SAN). Osamgbi stressed: “The Appeal Court also held that MT Agbomien, the vessel that was the subject matter of the suit, was unseaworthy going by the provisions of the Merchant Shipping Act 2007 and was therefore justifiably detained. “On the claim of $7,000 per day by the defendant as cost of hire of the vessel, the court held that the claim was unsubstantiated. The documents of the charter which ought to have been pleaded and tendered to prove the item of loss was not done. “The Appeal Court also held

that the Hensmor’s basis of arriving at $25 million as the estimated value of the vessel MT Agbomien was not even placed before the lower court to enable it determine if that was a fair and credible estimate before making the award. “The Appellate Court also noted that the respondent failed to plead full particulars of the various heads of damages claimed and also failed to strictly prove them and, accordingly, held that the awards by the lower court could not stand. “In affirming the regulatory power of NIMASA to detain vessels in accordance with the Merchant Shipping Act 2007, the Appeal Court ruling has re-echoed the international nature of shipping and hence the need for uniform compliance in global maritime safety practices as adopted and implemented in Nigeria by NIMASA.”

He noted that Hensmor Nigeria Limited had approached the Federal High Court alleging that its vessel, MT Agbomien, was illegally detained by NIMASA, arguing that although Hensmor’s certificate of seaworthiness had expired, the vessel was nonetheless seaworthy. It then claimed that the detention by NIMASA was unlawful. In its statement of defence, Osamgbi said that NIMASA stated that its Harbour Master called to inform the agency that MT Agbomien was not seaworthy and that as an agency responsible by statute for the safety of shipping and navigation, the vessel in question was inspected and it was discovered, among other things, that the sea worthiness certificate of the ship had expired since 2005. NIMASA said that the ship was promptly detained pending the time all the defects would be rectified.

Cargo expected this week at the Lagos port

Container terminal at the Lagos Port Complex, Apapa

Nigerian shipping policy produces weak institution

he National shipping policy as contained in the National Shipping Policy Act, 1987, has recorded limited success due to poor policy adaptation and design, poor governance culture and weak institution. Chairman of Oil and Gas Free Zone Authority, Chris Asoluka, has observed. He noted that Nigeria has adopted many policies and regulations to induce shipping development but the result has been mixed. Asoluka added: “Our findings indicate that the colonial state shipping development between 1914 and 1960 was clear, vigorously pursued and ensured

the monopolisation and cartelisation of trade and shipping to the British interests. “Shipping is becoming more constrained and it affects how shipping is managed, operated and financed. The chairman who delivered a paper tittled: “General review of Nigerian shipping policies, regulations and development from 1914 to 2014” stressed that regulations were more common to issues of operations, labour, environment, security and safety in Nigeria. He noted: “Outcome of surveys of 48 countries reveal varying types of support including the USA’s Jones Act, 1920 and

Merchant Marine Act of 1936. Nigeria colonial shipping was largely controlled by the British conference line, which held a stranglehold on the cargo freight, space and regularity, thus Freight fixing, discrimination in the allotment of cargo, financial burden such as taxes and port dues, aided and abetted the British monopoly Asoluka added that the dynamics in the colonial trade and shipping activities threw up many challenges for the emergent post-colonial state review of legislations, especially in the exercise of waiver power in the Cabotage Act, vessel condition and age limit.

Terminal

Ship

APMT APMT GNDL APMT APMT APMT APMT

MOL Valporaiso Rui ChangHai Storm Ranger Cont Cartagena Liwia P Maersk Gubangy Kota Gunawan

Tonnage Lagos port 350 units 8,764 tons 33,000 tons 350 units 750 units 400units 562 units

New risks emerge in maritime industry N ew risks have emerged in the global marine industry despite shipping losses of over 100 gross tons declining 20 per cent in 2013, according to a report by Allianz Global Corporate and Speciality (AGCS). In its second annual Safety and Shipping Review 2014, the company said that shipping losses continued their downward trend with 94 losses reported worldwide in 2013 compared to 117 in 2012. AGCS reports noted that the 2013 total represent only the second time in 12 years that there were fewer than 100 reported shipping losses of over 100 gross tons. Also positive, the 2013 accident year represents a significant improvement on the previous 10-year loss average with total worldwide shipping losses declining 45 per cent

cargo Containers Steel Wheat Containers Containers Containers Containers

since 2003, the reports stressed. It declared: “The 2013 marked the arrival of the largest container vessel on record, over 400 metres long with a capacity in excess of 18,000 Twenty Equivalent Units (TEU).” AGCS also estimated capacity growth by about 30 per cent every four to five years, meaning the arrival of 24,000 teu carriers can be anticipated around 2018. “These mega ships pose unprecedented risks and challenges in terms of operating safety and salvage efforts,” it said. The company noted that the use of liquefied natural gas to power ships was expected to dramatically increase by 2020. There are safety concerns, however, as the industry will see the rise of ports that have never previously handled LNG providing bunkering stations on dock.

wn the gic eduike Nichunk ge from a, shiparticles

ence of he conshowed not ate operaime inry.

38 BUSINESS | FOR THE REDORDS

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Wednesday, March 19, 2014

Sanusi Lamido Sanusi's response to CONTINUED FROM YESTERDAY 6. FACILITIES MANAGEMENT Briefing Note Allegation 6: that the CBN’s leadership uses this head of expense (Facilities Management) to capture what ordinarily should have been accounted for as their benefits-in-kind for tax purposes. It also alleges that this head of expense is used for ‘fraudulent activities’ based on the inclusion of items such as “Profit from sale of Diesel”. Response: i. The CBN outsources the management and maintenance of its landed properties across the 36 States of the Federation and the FCT. This involves three service areas: engineering services, building services and environmental services. These are operational costs relating principally to head offices, branches, currency centres and training institutes. ii. On the specific allegation of ‘fraudulent activities’, based on profits from the sale of diesel, it should be noted that the CBN’s Facilities Management Agreements clearly include the supply of diesel for the operation of generators to power CBN offices in 51 locations across the 36 States and the FCT. The Diesel is paid for at pump price, while overhead and profit at 10% is paid to the service providers. This overhead and profit is presumably what the FRCN erroneously regarded as “profits from the sale of diesel”. These profits do not go to the CBN but to the service providers, which is why they are an “expense item”. The CBN does not operate in any sector of the petroleum industry. 7. FIXED ASSETS CLEARING ACCOUNT Briefing Note Allegation 7: that the expenses under the Fixed Assets Clearing Account comprise properties acquired by the CBN without any expectation to derive future economic benefits and are written off by the CBN on a yearly basis. Response: i. Fixed Assets Clearing Account is used by the CBN to record the procurement of fixed assets, physical items and projects-related expenditure for the CBN, using the IT application Oracle ERP. However, some items, which do not qualify as fixed assets under the capitalisation policy of the CBN, are sometimes posted into this account. ii. The transactions are periodically reviewed for the purpose of capitalizing those which qualify under the Capitalization Policy and posting such to the respective Fixed Asset Account and Fixed Asset Register with tag numbers. All other assets which do not qualify are expensed through income and expenditure accounts at the end of the year. 8. OPERATION OF FOREIGN BANK ACCOUNTS Briefing Note Allegation 8: that for-

that is yet to be earned for 2014. With this level of prudent financial performance, it is puzzling to imagine the basis for the levied allegation of “Wastefulness”. It must be underscored that central banks all over the world are not considered as profit centres. The primary task of the CBN is the attainment of price stability rather than revenue generation. However, the CBN under my leadership has strived to deliver on its key mandate, while also maximising revenues for government.

Sanusi

eign bank accounts that were closed down were still operational in the General Ledger for over six months after the accounts had been confirmed closed by the offshore banks. Response: i. The balances on these accounts simply reflected the fact that the process of the transfer of gains and losses on them had not been concluded, hence their existence in the General Ledger. The process of closing the accounts has since been concluded and the journals evidencing closure are available in the CBN. 9. UNRECONCILED REAL TIME GROSS SETTLEMENT CLEARING ACCOUNT Briefing Note Allegation 9: that the Real Time Gross Settlement (RTGS) Account had longstanding unreconciled items which could not be substantiated. Response: i. These items resulted from epileptic operations of the RTGS system due to frequent system downtime, which in turn resulted in failure to seamlessly effect funds transfer. These items have since been reconciled and we have put in place an upgraded and more robust RTGS system, which would minimise reoccurrence. 10. MISSING STOCKPILES OF FOREIGN CURRENCY Briefing Note Allegation 10: that the external audit revealed debit/credit balances of sundry foreign currencies without the physical stock of foreign currencies at the CBN Head Office. Response: i. Generally, losses or gains may arise out of the account balances, which in turn, may be occasioned by exchange rate differentials. In either event, once crys-

talized, the net position is then posted to the Foreign Assets Revaluation Account. As such, as at 20 February 2014, there was no physical stock of currency missing at the CBN. 11. ALLEGED WASTEFULNESS Briefing Note Allegation 11: that the CBN has been wasteful in its expenditure incurred in the course of 2012. Response: i. This allegation is clearly at variance with the reality of the financial performance of the CBN under my leadership. For example, in the year 2008, just before I took over office at the CBN, the contribution of the CBN to the Federation Account was N8Billion. Based on the 2012 annual accounts, our contribution rose tenfold to N80Billion, while in 2013, our contribution, based on the audited accounts, was N159Billion. ii. It is noteworthy that in the 5 years of my tenure as CBN Governor (2009 – 2013), the CBN has contributed N376Billion to the Federal Budget as IGR (Internally-Generated Revenue). Indeed in 2012, the House of Representatives Committee on Finance publicly commended the CBN for being the highest contributor of revenues to the FGN among MDAs - accounting for 75% of the total IGR contributed by MDAs between 2009 and 2012. The CBN has been able to achieve this through prudent management of costs, including currency expenses and overheads. For example, we brought down currency expenses from N50.8 Billion in 2009 to N29.08 Billion in 2012. iii. It is worthy noting that the Ministry of Finance has already received its IGR from the CBN in full, based on our 2013 accounts and the Ministry even requested and received an advance of N70Billion in anticipation of surplus

12. PROMOTIONAL ACTIVITIES Briefing Note Allegation 12: that the sums expended on promotional efforts of the CBN in 2012 were too high. Response: i. The allegations do not suggest that proper procedure was not complied with in making the referenced expenditure. The Board of the CBN approved all the promotional expenses. ii. In the year under review, 2012, the CBN initiated several reforms and policies in the execution of its statutory mandate of promoting a sound financial system in Nigeria. Some of these policies included: iii. the introduction of the Cashless Lagos Initiative and mobile banking; iv. the Power and Aviation Intervention Fund (PAIF) campaign, for which the FG took credit. The PAIF campaign helped to stimulate growth in the power sector and raise investor confidence generally; v. the National Microfinance Development Strategy; and vi. the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and the Commercial Agriculture Credit Scheme (CACS), which supported the FG’s renewed focus on the development of agriculture as a major income earner for the country. vii. Essentially, what are characterized as ‘promotional’ were actually necessary education, enlightenment and awareness campaigns and conferences on initiatives which were, and remain, essential to economic growth, expansion of financial inclusion and the achievement of the policy objectives of the CBN and the FG. 13. TRAINING & TRAVEL EXPENSES Briefing Note Allegation 3: that CBN’s expenses in relation to training and travel went up from N7.65 Billion to N9.24 Billion. Response: i. In 2012, the Board of the CBN took the strategic decision to invest in the development and training of CBN staff across all departments. We trained our staff in the most prudent manner possible and this led to the outstanding achievements recorded by the CBN during my tenure. We had to send CBN staff to international finance and regulatory institutions for training; and overseas training comes at a steep cost. ii. Furthermore, in 2012, to match the

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Wednesday, March 19, 2014

allegations in relation to suspension increased need for bank supervision, CBN staff strength was increased. This further necessitated orientation and other training programmes to bring the new entrants up to speed with the CBN policies and practices. 14. EXPENSES ON ATM OFFSITE POLICY CHANGE Briefing Note Allegation 14: that expenses on the ATM offsite policy change came to N1.045 Billion. Response: i. Prior to my appointment as the CBN Governor, the CBN had initiated a policy of increasing accessibility to financial services through the use of ATMs. This was geared towards ensuring financial inclusion for all Nigerians. To achieve this, the CBN licensed independent ATM deployers (IADs). ii. However, it soon became apparent that these IADs had neither the capital nor the capacity to roll out ATMs and manage them at a rate consistent with our cashless Nigeria ambitions, and that a roll-out on the scale envisaged would require allowing banks to deploy ATMs outside their branches. As a result of this change in policy, the IADs incurred losses due to prior investments made based on the previous policy. iii. It was therefore in the interest of equity and fairness that the CBN agreed to negotiate some compensation payable to the IADs after verification of claims of the IADs by the CBN. The verification process resulted in the CBN paying only about 40% of the original claims of the IADs. iv. The implementation of the policy of increasing accessibility to financial services has been very successful with immense benefits to the country. It has led to an increase in ATM penetration and efficiency of the payment system along with all other benefits associated with this channel. 15. EXPENSES ON NON-INTEREST BANKING Briefing Note Allegation 15: that the expenses on Non-Interest Banking went up from N0.977 Billion in 2011 to N1.359 Billion in 2012 and speculation was made as to whether this had any relationship with the CBN’s investment in the International Islamic Liquidity Management Corporation (IILMC). Response: i. For the record, this expense item is not connected with the investment of the CBN in the IILMC. As such, there is no basis to make such an assumption. Rather, the item relates partially to the CBN’s specialised and non-interest banking policies and includes other expenses of the Financial Policy and Regulation Department such as (a) consolidated supervision; and (b) Consultancy fees for the adoption of IFRS & Basel II/III. 16. EXPENSES ON PRIVATE GUARDS AND POLICEMEN

19. LEGAL & PROFESSIONAL FEES Briefing Note Allegation 19: that the CBN paid excessive legal and professional fees of N20.202 Billion in 2011. Response: i. The CBN, like any other public entity, is not immune from liabilities that arise from judgments and orders of the Nigerian courts. The referenced N20.202Billion spent under this head covered the CBN’s judgment debt liabilities in the year under review. ii. Of particular reference is the judgment of the Supreme Court in the case of Amao v the Central Bank of Nigeria, [SC 168/2007] delivered on 21 May, 2010, wherein the apex Court directed that the CBN pay employees of the Bank who had retired prior to 2000, pension under the harmonised structure introduced by the FG. Note that the negotiated litigation liability that arose from the above-specified matter was approximately N19.8Billion. See Annexure J for the judgment of the Supreme Court in question.

Jonathan

Briefing Note Allegation 16: that the CBN’s expenses on Private Guards and Lunch for Policemen went up from N0.919 Billion in 2011 to N1.257Billion in 2012. Response: i. In 2007 (before my tenure), the CBN adopted a policy to outsource non-core functions, including security services. This decision enabled the Bank to focus on its statutory mandate and to reduce its overheads. Accordingly, the CBN retained the services of about thirteen (13) private security companies to provide access control and security check services. In 2012, the CBN budgeted N600 Million for security services but spent N582.2 Million on private guards. See Annexure I (A-B) for the breakdown of the costs incurred in this regard. ii. To complement the efforts of private guards, the CBN also requested the services of security agencies, in light of the increased security challenges, especially the activities of the Boko Haram terrorist group. These security personnel were engaged on a daily basis; and were attached to (x) senior CBN officials; (y) special assignments such as security coverage for currency movements; (z) static guard duties at the bank’s premises nationwide, and other sundry engagements. About 2,406 Policemen are currently deployed on a daily basis to various branches and other locations of the CBN. These security personnel were paid a daily lunch and transport allowances totalling N675.02 Million in the year under review. 17. PROJECT EAGLES The Briefing Note Allegation 17: that the expenses of the CBN on Project Eagles went up from N63 Million in 2011 to N606 Million in 2012. Response: i. Under Project Eagles, the CBN caters

for all expenses incurred in the course of an internal restructuring of the CBN on the understanding that central banking, by global standards and best practice measures, is an ever-evolving enterprise, with constantly changing requirements and frameworks that require adaptation. ii. In 2012, the expenses on Project Eagles included the following internal restructuring initiatives: Strategy Execution Framework Project, Transformation of the Procurement and Support Services Department, Transformation of the Finance Department and the NIPOST PPP Project in collaboration with the Ministry of Communication for the purpose of using NIPOST locations as outlets for our Financial Inclusion Strategy. iii. Project Eagles was carefully designed, well budgeted for and was approved by the Board. The objectives are being achieved in light of the improved efficiency of the CBN. 18. NEWSPAPERS, BOOKS & PERIODICALS Briefing Note Allegation 18: that the expenses of the CBN on newspapers, books and periodicals (excluding CBN’s publications) went up from N1.670 Billion in 2011 to N1.678 Billion in 2012. Response: i. The CBN’s peculiar status as a regulator underscores the need for its staff to be informed as to every development that has a bearing, however tangential, on the object and functions of the CBN in the economy. The expenses incurred were made in subscriptions for, and acquiring, local and foreign journals, magazines and periodicals for the CBN. These educational and information material are directly useful for the operations of the CBN. The CBN increased the number of employees entitled to access to newspapers, Books and periodicals.

20. REDUCED EXPENSES ON ETHICS & ANTI-CORRUPTION Briefing Note Allegation 20: that the CBN, under my watch, reduced its expenditure on Ethics and Anti-corruption and this reduction is purportedly an instance of ‘financial recklessness and wastefulness’. Response: i. In response to the need to improve ethical and best practice standards in its operations to bring it at par with international standards and the code of conduct requirements, the CBN expended N34Million in 2011 to develop the Code of Business Ethics and Compliance (COBEC) as well as the Code of Conduct for staff, the implementation of which spilled over into 2012. This explains why the expenditure dropped from N34 Million to N18 Million. 21. AUDITOR’S FEES Briefing Note Allegation 21: that the CBN paid an additional N140 Million over and above the agreed fees for the external auditors. Response: i. The 2012 financial statements of the CBN stated that the amount paid to the two firms of external auditors for the 2012 financial year was N200Million. The subsequent graduating revision of the fee was to the sum of N230Million effective from 2013. ii. The N140Million purportedly paid to the external auditors as “additional fees”, was paid as reimbursement of the expenses incurred by these firms in the execution of their mandate as external auditors of the Bank for previous audit exercises. See Annexure K for evidence of payments made to the auditors. Payment of reimbursables is a standard contractual practice when dealing with professional service firms. TO BE CONTINUED TOMORROW.

40 POLITICS Rather than appreciate government’s gesture, some Nigerians reject national honours, citing several reasons. ETAGHENE EDIRIN reports

Sanctity of Truth

Wednesday, March 19, 2014

National honours as rebuff items

lobally, nations confer national awards on individuals as a mark of recognition of their achievements and contributions to national development. In Nigeria, the national awards are conferred on worthy Nigerians, living or dead, who have made marks in their respective fields, and imparted positively on the nation and the world. There are different categories of awards and honours set up for this purpose, and over the years, government has made it a regular event to honour citizens who have accomplished major feats in their fields of endeavour, or others who have offered selfless services to people and country. Such awardees have always come from different walks of life. The Nigerian National Merit Award (NNMA) is one of such mark of distinction. The National Honours Award is another category of award also conferred on deserving Nigerians and friends of Nigeria every year. Until a few years ago, it was an honour to be so recognised by the Federal Government as being among the very few who have been found worthy to be conferred with any of the nation’s awards. According to President Goodluck Jonathan, “the award symbolizes the country’s values and integrity which must not be soiled. It is a very important part of the symbol of the country’s values and pride. The dignity, honour and respect of the National Honours must never be tarnished.” However, in recent times, a number of Nigerians who have been nominated for the otherwise coveted awards have rejected them. The rejections became pronounced during the centenary celebration to mark the country’s 100 years of existence as a nation in February. Ordinarily, it should be a great and exceptional honour to be included among the 100 outstanding citizens of the century, as far as Nigeria is concerned. But this was not the case as some prominent Nigerians, including family members of those honoured posthumously rejected it, and asked to be excluded from the list. Nobel laureate, Prof. Wole Soyinka, who was among those who turned down the centenary award, said he rejected his nomination for the decoration by the Federal Government because he could not share the award with the late Head of State, General Sani Abacha. Soyinka, who averred that Abacha’s memory ought to be wiped out of the nation’s daily encounter, also said, “under that ruler, torture and other forms of barbarism were enthroned as the norm of governance. To round up, nine Nigerian citizens, including the writer and environmentalist Ken Saro-Wiwa, were hanged after a trial that was stomach churning even by the most primitive standards of judicial trial, and in defiance of the intervention of world leadership. “We are speaking here of a man who

Soyinka

The late Achebe

The late Fawehinmi

The late Anikulapo-Kuti

placed this nation under siege during an unrelenting reign of terror that is barely different from the current rampage of Boko Haram. It is this very psychopath that was recently canonized by the government of Goodluck Jonathan in commemoration of 100 years of Nigerian trauma”. The families of late Afro-beat legend, Fela Anikulapo-Kuti also turned down the honour their forebear. Fela’s son, Femi Kuti who said that the family would not accept any centenary award in Fela’s honour, averred that the Federal Government should first apologise for killing his grandmother, Funmilayo Ransome-Kuti, and the burning of Kalakuta Republic. Baba 70, as Fela was popularly called, was to be honoured in the category of ‘Internationally Acclaimed Artistes, Literary Icons and Journalists’. Femi also went ahead to say that he doubts if the family would accept the award even if the government apologised for the two wrongs mentioned. Likewise, the family of the late human rights lawyer, Chief Gani Fawheinmi turned down his nomination for a Centenary Posthumous Award, citing the nomination of the former military president, General Ibrahim Babangida, for the same award, the killing of students by insurgents in the North-East and cases of corruption across the country, including the alleged missing of $20 billion from the Nigerian National Petroleum Corporation (NNPC) as reasons for rejecting

the nomination. Mohammed, who commended the Federal Government for considering his father for the honour, explained that their late father always championed the unity of the country and would have opted for the money being spent on the celebration of the centenary to have been devoted to infrastructural development instead of deploying the fund to celebrating Nigeria’s centenary. Many Nigerians are conversant with the issues raised by the late author of the classic novel, Things Fall Apart, the late Prof. Chinua Achebe, who also turned down the National Honour awarded him by the Federal Government twice. In 2004, the administration of President Olusegun Obasanjo had nominated the literary icon for a national award as, but he rejected that offer, explaining, that he was disappointed by the trend of events in the country in general, and his native Anambra State in particular. A few years later the Jonathan administration nominated Achebe for Nigeria’s third highest Honour – the Commander of the Federal Republic (CFR). Again, he turned it down lamenting that “the reasons for rejecting the offer when it was first made have not been addressed let alone solved.” Femi Gbajabiamila, the Minority Leader of the House of Representatives, also rejected the award of Order of the Federation (OFR) in 2011. As to what could make these Nigerians

Gbajabiamila

reject the nation’s honours, which should normally represent a proud turning point in the life of any citizen, a number of public affairs analysts observed that the Nigerian national honours appear to have been debased and do not seem to represent any more of those sterling ideals like distinction in character, industry and exceptional accomplishment which they were originally meant to celebrate. They further lamented that the value of Nigerian national awards have come to be equated with economic and political rewards, conferred on people to garner patronage, or because of their office and not their service to the nation. Speaking with New Telegraph on the issue, National Chairman, Conference of Nigerian Political Parties (CNPP), Alhaji Balarabe Musa said those who rejected the national awards were right if they did it based on principles. Musa, a former governor of the old Kaduna State, said the reason given is what will justify their decision, adding that if their conscience would not allow it, then they were right to reject it. He, however, noted that since the awards were for the celebration of the 100 years anniversary of the country, they should have reconsidered, and not associate it with any individual. Speaking on late Prof. Chinua Achebe who twice rejected national awards from the Federal Government, Musa said: “He’s right. A man of conscience should do that, especially when the reasons and complains he gave for rejecting it the first time were not even addressed before offering the award to him a second time.” Also, former Attorney General and Commissioner for Justice in Delta State, Chief Victor Otomiewo, noted that a person has the right to either reject or accept an award or commendation from whatever place or people. According to him, the circumstances surrounding the conferment of the awards were also questionable, adding that if conferred with such an award, given the prevailing circumstances he would have rejected it as well. Otomiewo told New Telegraph that, “It only goes to show the mentality of those in power. And it may get worse if they are returned in 2015, even though we did not vote them in in the first place.”

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Sanctity of Truth

Wednesday, March 19, 2014

Presidency plotted my impeachment â&#x20AC;&#x201C;Nyako Governor Murtala Nyako has blamed the Presidency for the rising insurgency in the North-East. In this interview, he speaks on how the military launched attack against Adamawa State, plot to impeach and eliminate him. IBRAHIM ABDUL presents excerpts Your convoy come under fire during your visit to Shuwa to commiserate with the victims of insurgent attacks. What do you think informed the shooting by the soldiers? I, just as many others, believed that there was more to the shootings than meet the eye because I believed a trap was set for me. Immediately after we finished condoling the people of Shuwa and after Muslim and Christian prayers were offered, I started heading towards my car but suddenly, a military vehicle stopped and a person in military uniform came out telling me they are coming. I asked who is coming and he said Boko Haram. There and then, he started shooting. As a leader, the best thing to do was to leave the place. So, we left. Even at that, they started pursuing us. After we went far, they retreated. When we reached a certain checkpoint, one of the soldiers at the checkpoint was busy asking the vehicle conveying me what happened. God in His infinite mercy protected all of us in the entourage as no one was harmed. What measures are you putting in place to prevent any similar occurrence? I will keep asking them the source of the weapons and where they keep them. We know that every gun is manufactured and they can be traced. So, we want to know who ordered the weapons; we want to know who transported them. Because we know if one placed an order for weapons, he will have to fill up documents which will indicate the destination of the weapons and the manufacturer will ensure that the weapons only reached the destination. So, we want to know who pays for the weapons because in the 21st century, if you remove a kobo from your account, the world knows. We can easily trace how these weapons are being bought and how they were ferried into the hinterland from the port. We know there are only two groups of people that pass checkpoints without being scrutinised and they include executive office holders including the president and the governors, and security operatives. Among the two groups, who is responsible for shipping weapons into the hinterland? We have more checkpoints now than even during the civil war, yet we are witnessing surge in insurgency attacks. Is that not surprising? My question again is who ferried these weapons across these checkpoints to our land? We were told that whenever they want to kill our children, the soldiers around the schools will be withdrawn or they will be directed not to repel the attackers. It is even an offence for any soldier to try to counter these attack-

ers. We even learnt that a soldier was queried for trying to repel the attackers. Who is the strategic commander behind all these atrocities? We know that these attacks are being coordinated from Abuja. They are the ones coordinating these Boko Haram activities from Abuja and they used to tell the soldiers to look the other way whenever they are launching such attacks. The senior commanders from Abuja were responsible for these attacks. We in Adamawa State have serious worries as there have been attempts to incite the people against each other. Since last year, some people went to Fulani communities to tell them that Chamba were attacking them while the people also went round to tell Chamba people that the Fulani were responsible for attacks on them and asked them to retaliate. We are very sure that Chamba were not responsible for any attack on Fulani. So, we pacified all the sides to be wary of those who want to incinerate the state; those people are only trying to cause conflict in the North. They want to incite trouble. What is your advice to the people of the state? I am calling on the people of Adamawa State to desist from being misled into killing each other by the Abuja people. We should emulate the Christians of Wusasa who exercised caution after their church was razed by assailants as they refused to attack the Muslims because they said the Muslims were not the people who razed their church. The Wusasa people said they believed that Muslims were not behind attack on their church and pledge not to raze any Mosque. That is what we want in Adamawa. They used the same strategy to destroy Plateau State but now, people of Plateau understand the cause of the mayhem. The problem in Plateau State started like play and it degenerated into a serious crisis that nearly consumed the whole state. You can see what is happening in Borno State when youths, who are fed up with the killings, started searching vehicles that are passing by and were lucky to recover weapons. But the soldiers came and testified that the gunrunners are part of them and when the youths insisted on arresting the people, they were killed by the soldiers. So, I want to appeal to soldiers to stop allowing others to use them to achieve their nefarious agenda as their allegiance should be with the people. We know that there are people being paid to plant bombs around targeted areas. That is why up till now, we cannot trace those behind the massive killings going on in the North.

Nyako

They planned to remove me from the office through impeachment but were frustrated after which they investigated my administration and could not indict me. When all that failed, they are now after my life as they are set to eliminate me It is in furtherance of that agenda that some people woke up and reviewed the curfew in the state to incite the people as Muslims may see it as an attempt to prevent them from performing their religious obligation. I challenged them on why they should impose another curfew on the state because even the President said that it is the duty of the state government to review curfew, but even at that, they reviewed the curfew without my knowledge. Is the state being run by a sole administrator that will deemed it fit to impose a curfew without consulting the state government? What do you think will nip this insurgency

in the bud? Three and a half years ago, I wrote a strong-worded letter to President Goodluck Jonathan informing him that involving the military in civil cases is only confounding problems because the military were trained to kill. It is as a result of that that 80 per cent of the world was against military intervention on internal security and that is the practice in America and Germany. An American soldier will rather die than shoot an American citizen and we tried to prevent that from happening. We advised that Nigeria should emulate the way other countries maintain their internal security. Let me tell you, my candid opinion was misinterpreted and they planned to remove me from the office through impeachment but were frustrated after which they investigated my administration and could not indict me. When all that failed, they are now after my life as they are set to eliminate me. Throughout the world, people said the emergency rule imposed on Adamawa was not justified because we are peaceful and the government was trying its best to maintain peace but suddenly, they imposed emergency rule on us and the Presidency told me that the emergency rule in the state will only last for three weeks.

42 POLITICS

Sanctity of Truth

Wednesday, March 19, 2014

Insurgency: Tambuwal’s roadmap to peace C O N T I N U E D F R O M PA G E 1 3

College, Buni Yadi, Yobe State were killed in the most heinous manner. Some of our future national leaders were mowed down in gruesome circumstances in their sleep. Some were shot dead while many were burnt beyond recognition. That day was a day that will live in infamy in the history of this nation. “When innocent, harmless and defenceless women and children become the targets of these heartless murderous bandits; when the lives of sleeping children are so callously snuffed out, it becomes clear that these agents of terror have murdered sleep and they henceforth deserve none. “Whatever grievances the terrorists harbour against the government of Nigeria, Nigeria’s innocent children have nothing to do with it. Nigeria’s children bear no responsibility for either policy making or policy implementation in Nigeria. It is therefore an act of cowardice worthy of ringing condemnation to target the children, to strike at those who are not only innocent but are also unable to strike back or defend themselves. There can be no reason, no justification and no acceptable excuse for this act of mindless brutality. Whatever message the terrorists set out to send to the Nigerian government has been drowned out by the cries for justice by the blood of these innocent martyrs.” Tambuwal, who revealed that members of the House declared Tuesday “a day of mourning” to remember the innocent children and other victims of violence in the country evoked emotion when he took his colleagues on an imaginary journey to the scene of the killings. His words: “My dear colleagues, please travel with me on an imaginary journey to Federal Government College, Buni Yadi. Picture the scene as the terrorists creep into the hostels and the children begin to wake up one after the other, with their eyes heavy with sleep, each of them convinced that this is some nightmare. “Picture the chaos in the rooms and the terror on the faces of the children as they watch the murderers attack; the first set of students, the ones nearest to the entrance, and the students begin to realise that what is happening is not a nightmare but a reality far harsher that any nightmare the mind of a child can construct. “Hear the panic in the voices of the children as they begin to scream for help, from God, their parents or security. But no help will come tonight. Feel the unbearable horror of this night, and hear the fading cries of these children as they finally succumb to the murderous onslaught. “Finally, my dear colleagues imagine that it is your own child in the hostels at Buni Yadi on this hellish night. I can still hear the voice of the father of Aliyu Yola, one of the victims of the school massacre crying: ‘Aliyu was scared to go back to school after the last holiday. I forced him to resume not knowing he will never come back to me again.” The Speaker, who recalled that he warned that Nigeria is running out of excuses for her failure to live up to her

Tambuwal

Fasehun

responsibility to protect her citizens, immediately after that attack, insisted that the government must rise to the occasion and come up with concrete solutions to the rising insecurity. He said: “Section 14 of the Constitution of the Federal Republic of Nigeria provides that the security and welfare of our people is the primary purpose of government. In making this provision, the constitution places a duty on all of us here and everyone else entrusted with the mandate of governance and representation to place a high premium on the security of lives and property of Nigerians. “By this parameter, the Nigerian government must rise to the occasion. And by government I do not mean only the executive. We in the legislature are also part of government. And we cannot therefore merely join in the chorus of lamentations. Our duty is to act swiftly and decisively in the protection of the citizenry.” Tambuwal recalled that the House had in the past initiated and supported all measures needed to combat terrorism in the country, including the passage of over 20 resolutions on the issue of national security. He added that while the House awaits the completion of the constitutional amendment process, it must in the interim adopt definite measures to ensure that the security agencies have all the support they need to put an end to the long-running orgy of bloodbath so that Nigerians can sleep with both eyes closed. To him, that is the most basic service citizens expect from their government. He said: “My dear colleagues, let us not forget that we have in place a state of emergency in the three affected North East states. Yet the killings have continued unabated in spite of the gallant efforts of our security forces. It is therefore clear that we need to come up with other ideas for a solution.” The House, in coming up with the proposals, the Speaker said, must ask certain questions. According to Tambuwal, such ques-

tions are: How do we ensure that the welfare of our military is effectively administered and that they have the appropriate equipment to execute their hazardous assignment? How do we strengthen the intelligence gathering capabilities of our intelligence agencies? How do we encourage the Nigerian Police Force to institutionalise community policing as a framework for engaging local communities in a partnership for checking crime and terrorism? Others are: What about integrating local security structures into the regular security windows of the Nigerian Police Force with the federal, state and local governments supporting them with necessary resources? Is it perhaps time for us to revisit the idea of state police? How do we develop an institutional framework for securing the land through a neighbourhood audit where a tab is kept on every member and every housing structure whether completed or uncompleted? Reasoning that a fully engaged and strongly organised local population would not allow terrorism in their community or across their territory, the Speaker charged that Nigerians must be mobilised to take back their communities. “Intelligence gathering will improve tremendously if security structures at the local levels are tapped effectively by the police,” he added. Tambuwal also called for the institution of a marshal plan to effectively ad-

What is wrong in a committee seeking to know certain things from a minister whom it oversights? There is virtually nothing wrong and we are fully behind the committee because it is part of our oversight responsibilities

dress the economic circumstances of the affected regions. Such a measure, he explained, will serve to check youth restiveness, unemployment and mass poverty, adding that the private sector has a huge role to play in this. He also raised the issue of traditional and religious institutions, asking: “Does the government now need to intensify engagement with these elders to take advantage of their unique position, wisdom and influence? Tambuwal also challenged his colleagues and other Nigerians to come forward with other ideas and solutions on how the nation can address the security situation. He said: “The involvement of the citizenry in the fight against terrorism is a vital issue. For the campaign against terrorism to succeed the people must get involved. A crisis of this magnitude is beyond the capacity of any government to resolve on its own without the support of the people. “One hundred years after Nigeria was amalgamated into one country, there are Nigerians who would still prefer to emphasise and celebrate our differentness and blame the British for amalgamating us, rather than embrace the reality of our oneness. At this stage of our journey of nationhood, all Nigerians should be highlighting the ties that bind us. We should be promoting the elements of our common heritage and emphasizing the imperatives of our common destiny. “In the light of a heart-wrenching tragedy like this, our people must now see that those political, sectional and sectarian differences that have made it impossible for us to present a united front against our challenges are petty and self-absorbed. “If a tragedy of the Buni Yadi magnitude does not bring us together as one nation, if the loss of our innocent children whose only offence was that they went to school to gain education and wisdom in preparation for a future of service to Nigeria and humanity does not unite us in grief, then we need to ask ourselves if we truly meet the basic spiritual requirements of nationhood.” Further challenging Nigerians to rise up to the security challenge, Tambuwal said: “We cannot claim to be one nation, if we cannot find unity in grief; just as we cannot claim to be a great nation when we are incapable of preventing horrendous attacks on our children peacefully asleep in their beds. “As a people we are known to be our brothers’ keeper. Terror has never been in our character and with God on our side we shall surely defeat this minority tribe of violence. Let us therefore arise with a single-minded resolve that the Buni Yadi massacre is one massacre too many and we shall tolerate no more.” Will the people continue to believe in the Nigerian nation in the face of rising insecurity? Only a conscious effort by the Federal Government to halt the terrorist trend, which portends great danger to the country’s corporate existence, will determine that.

POLITICS 43

Sanctity of Truth

Wednesday, March 19, 2014

Olamilekan

he House of Representatives’ Committee on Public Accounts led by Hon. Adeola Solomon Olamilekan was baffled from the magnitude of evidence of misappropriated, stolen or missing public funds meant for projects in the country. These revelations are not from outsiders but are products of the queries raised by the Office of the Auditor General of the Federation in the course of its statutory functions to audit the accounts of all government concerns. The worst culprit in these series of queries is the unwholesome management of the service wide votes, which the committee was compelled to label ‘a slush fund’ that was spent without recourse to laid down government financial regulations. Surprisingly, these queries have been lying unattended to for years, some for upward of 10 or more years. N1.05 b ballot papers contract The committee unearthed a query, which centred on a N1.05 billion contract awarded to a South African company for the printing of 65 million ballot papers for the 2007 presidential election. The bone of contention was not because a contract was awarded but the committee noted that there was some duplication in the payment for the contract. The committee said there was confusion over the exact amount Nigeria paid for the papers. The chairman of the committee, Olamilekan, said two figures of N1.015 billion and N2.030 billion were being bandied. Olamilekan explained that the printing of the fresh ballot papers became necessary after a judgement of the Supreme Court declared that former Vice President Atiku Abubakar was qualified to contest the election. He stated that the Independent National Electoral Commission (INEC) had already disqualified Abubakar from contesting the election when the court delivered the judgement. According to him, INEC was compelled in the circumstances to print another set of ballot papers with Atiku’s name included. But the chairman said records available indicates that the Central Bank

Alade

Otunla

Unending probe of MDAs For the past two months, the Public Accounts Committee of the House of Representatives has been investigating queries issued by the office of the Auditor General of the Federation on the financial transactions of Ministries, Departments and Agencies (MDAs) of government. PHILIP NYAM takes a look at the colossal sums of monies involved in some of these sordid revelations and likely outcome of the probe. of Nigeria (CBN) transferred N1.015 billion to the Nigerian High Commission in South Africa to print the 65 million ballot papers. He also said the Office of the Accountant-General of the Federation raised another cheque in the same amount. “The ballot papers were printed at the cost of N16 for one copy. What was the exact amount paid to print the papers? Was it N1.015 billion or N2.030 billion? Was there a case of double payment? We have to establish what exactly transpired?” These questions are begging for answers. Of course, the committee has summoned the Chairman of INEC, Prof. Attahiru Jega, Nigeria’s High Commissioner to South Africa, the AGF, the Permanent Secretary, State House, and officials of the CBN to appear before it. Missing N24 billion Police pension fund Another disturbing revelation was the disclosure by the Director General of Pension Transitional Arrangement Department (PTAD), Mrs. Nellie Mashak, before the committee that there was no documentary evidence on the whereabout of the N24 billion released from Service Wide Vote in 2010 for Police Pension Fund. Mashak had however told the committee that her office expended the sum

of N24 billion it received from the service wide vote account through the Budget Office. She explained that the money was received and expended before her appointment, adding that “we have no evidence, we have no record. It just looked bad on our part. We will rather tell you the truth or make it up.” Also corroborating the presentation of the DG, the internal auditor of the Pension office, Mr. Adeyemo Julius Adebolu confirmed that it was true that the sum of N24 billion was received from the Service Wide Vote for payment of pensioners in 2010. He said when the money was released, he advised the office to lodge the money in a First Bank account but after the lodgement, he was kept in the dark on further disbursement of the money to pensioners. The auditor revealed that a consulting firm was contracted to disburse the pension fund, instead of the staff of the police pension office, noting that he had

We have no evidence, we have no record. It just looked bad on our part. We will rather tell you the truth or make it up

to come in when some of the pensioners after receiving their money complained of being short-changed by the consulting firm. Consequently, the committee decided to summon the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala; the Accountant General of the Federation, Mr. Jonah Otunla; Auditor General of the Federation, Mr. Samuel Ukura and the Director General, Budget Office, Dr. Bright Okogu to appear before it and shed more light on the missing fund. Unaccounted N35 billion The committee also in the course of the investigation into the management of the Service Wide Votes discovered that the Office of the Head of Service of the Federation (OHSF) was unable to account for a total sum of N35 billion from the Service Wide Vote received from the Budget Office of the Federation over a period of nine years. A representative of the OHSF, Mr. Adelakun confirmed to the committee that the OHSF received only N17.6 billion between 2004 and 2012 even though the Budget Office insisted that over N52 billion was released to the office and rolled out the breakdown of the disbursement of the funds within the period in question and received by the office. According to the Budget Office, in 2004 the OHSF received N2.7 billion, N9.8 million in 2005, N701.7 million in 2006, N896.3 million in 2007, N5.3 billion in 2008, N612.9 million plus another N70 million in 2009, N17.6 billion in 2010 while other releases were N13.6 billion in 2011 and N8.5 billion in 2012. The committee, however, pointed out that the OHSF documents only referred to the N17.6 billion it received in the year 2010, saying that based on the figures given by the Budget Office, there was a disparity of almost N35 billion and C O N T I N U E D O N PA G E 4 4

44 POLITICS

Sanctity of Truth

Wednesday, March 19, 2014

Public officers: Paving way for foreign account Philip Nyam

ur bill for the week is “An Act to amend the Code of Conduct Bureau and Tribunal Act, Cap C15, Laws of the Federation of Nigeria, 2004 to provide for the leave of the Bureau to be obtained for any public officer to maintain or operate a bank account outside Nigeria, and for other matters connected therewith.” The bill is sponsored by Hon. Bamidele Faparusi representing Gboyin/Emure/Ekiti East Federal Constituency of Ekiti State.

The intendment The bill is hinged on the principle of disclosure and advocates for a process whereby a public office holder can inform and get leave of the Bureau concerning any bank account he wishes to maintain and operate, which leave shall not be “reasonable denied”. The overall objective of the bill is to remove the blanket order prohibiting foreign bank accounts by public office holders, which according to the sponsor “has more or less contributed to the entrenchment of

the very mischief that it was originally meant to cure.” The Code of Conduct for public officers, which the Bureau is constitutionally established to enforce, are some of the set of ethics and rules of behaviour enshrined in the Fifth Schedule of the constitution. It consists of 14 codes including assets declaration, which every public officer is expected to imbibe and be guided by them in the conduct of their official duties. Codes of conduct are to guide people and any breach should necessarily attract adequate punitive measures to serve as deterrence. However, Faparusi has argued that “it has been observed that provisions of the extant law, especially as it relates to the prohibition of foreign accounts by public officers in Nigeria as provided in section 7, has only been observed in breach owning to the obvious impracticability of the law as we have experienced in recent times.” In other words, the purport of the law is to discourage the launder of money and fraud by public officers. But again, the sponsor has insisted that “nobody would use his personal bank account to launder money, instead proxies and cronies have become ready instruments for

Jonathan playing religious card C O N T I N U E D F R O M PA G E 1 7

these. The President should ask God for this exceeding grace to overcome self and all primordial desires that do not edify him, the church and the nation. No one should commit the error that my views are ‘anti-Christian.’ No! Far from it! I am a confessed believer in the Person and the Divinity of Jesus Christ and He constitutes the centre of my being and hope for eternal life. I therefore consider it degrading to the status of Christ to be dragged into the politics of temporal power in a manner that excludes people of other faiths that Jesus gave His life for. And if Mr. President feels he must continue on his religious trail, I enjoin him to visit Pastor

Adetumbi

Tunde Bakare’s Latter Rain Assembly, he should also extend his worship to churches in Yobe, Adamawa, Borno and Benue states. If Mr. President cannot worship with the Christian community in these volatile states, then he should stop henceforth this obnoxious religious campaign. On a final note, from the accounts in the Holy Bible, Priests took messages of God to kings of nations and read riot acts to them through the famous quote, ‘Thus sayeth the Lord God.’ Ironically, we are now faced with the situation where an un-ordained person climbs the altar of God to say “Thus sayeth the President”. This is a reversal of spiritual protocol as we know it in the Holy Bible and this is a subordination of spiritual authority of Priesthood to the temporal powers of the President. Indeed, the President needs to be careful in his new found vocation. His decision in the coming weeks will determine if Nigerians have a President who shares the yearnings and aspirations of all Nigerians irrespective of tribe or religion or a leader who quickly retreats into his religious or ethnic enclave to achieve transient political gains. This is not exemplary leadership and clearly not the mind of Christ.

Faparusi

BILL OF

WEEK

THE

The content This bill comprises of three clauses and primarily seeks to amend section 7 of the Code of Conduct Bureau and Tribunal Act Cap, C15 LFN, 2004 so as to make the leave of the Bureau necessary for public officers to maintain or operate bank accounts outside Nigeria. The bill by extension would seek to amend paragraph 3, Part 1 of the Fifth Schedule of the 1999 Constitution of the Federal Republic of Nigeria which is impari material with the section which this bill seeks to amend.

Nobody would use his personal bank account to launder money, instead proxies and cronies have become ready instruments for such purposes

such purposes.” According to him, the extant law does not envisage or contemplate this development and to tackle it, there is need to make for such public officers, who hitherto maintain and operate foreign accounts and has cause to hold same to get leave of the Bureau to continue to use such accounts. The lawmaker insisted that ‘this would be an improvement from the practice of requiring a public office holder to close any foreign account so held by reason of the office now occupied.” Faparusi also submitted that if this amendment is allowed to sail through, ‘it would give the Bureau some teeth to bite based on the fact that it would be able to prosecute any defaulter and seek the imposition of sanctions in line with section 22 of the Act relying on the said public office holders decline to make proper declaration to the Bureau” The posers The Code of Conduct for public offi-

cers was entrenched in the constitution with the establishment of the Code of Conduct Bureau in Nigeria in the 1979 constitution but it was not until 1989 that it got the much-needed legal mandate following the promulgation of a decree, the Code of Conduct Bureau and Tribunal decree No. 1 of 1989, has since metamorphosed into the Code of Conduct Bureau Act Cap. 15, Laws of the Federation of Nigeria, 2004. Cap C15 LFN 2004 gives the Code of Conduct Bureau the mandate to “establish and maintain a high standard of morality in the conduct of government business and to ensure that the action and behaviour of public office holders conform to the highest standards of public morality and accountability.” However, with the argument posited by the sponsor of this bill, he has posed two basic questions to those opposed to this proposed amendment. Would the closure of foreign bank account, which a public servant maintains and operate, and which he uses to defray liabilities across the shores of this country not be a disservice to him? Would the disclosure of existence of such foreign accounts not enhance probity in our public service? The sponsor Hon. Faparusi came to the House of Representatives in 2011 and is of the All Progressives Congress (APC). He holds a B.Eng from the Federal University of Technology, Akure and an MBA (Project Management) at the Obafemi Awolowo University (OAU), Ile-Ife. He is a member of the following committees: Constituency Outreach, Foreign Affairs, Internal Security and National Planning as well as power and rural development.

Unending probe of MDAs C O N T I N U E D F R O M PA G E 4 3

requested for the documents for the rest of the years in question. CBN’s N1.015 billion The CBN also featured prominently in these allegations of missing and misappropriated funds. The committee had course, during the week, to order the management of the apex bank to refund N1.015 billion to the Consolidated Revenue Account (CRA) for the controversial contract for the supply of 65 million ballot papers for the 2007 presidential election. The order followed the inability of the apex bank to provide satisfactory evidence of the transaction which the committee maintained that available records before it indicate that it was paid for twice by the Federal Government. The committee had invited Jega, the Permanent Secretary of State House, Emmanuel Ogbila as well as the acting CBN governor, Sarah Alade to give accounts of the transaction. Dipo Fatokun, Director, Corporate Services, who represented the CBN, in his submission said there was no double payment for the transaction. The

Jega

committee doubted the submission of the CBN representative. According to the committee, State House statement of account generated from CBN showed that cheques for the transaction and debit entries were contradictory. Two cheques for N262 million and N763 million could not be found in the statement while two debit figures of N10.5 million and N1.4 billion in respect of the transaction were suspicious. The committee also expressed suspicion over the legitimacy of the transaction as the money remitted to South Africa for the supply was less than what was approved.

METRO 45

March 19, 2014

man tortures 10-year-old niece for bed-wetting

SE ld woman es and s a 10-yeared-wetting

cis

etting, a 10-yearFoziya Danjuma, n subjected to a experience in the r aunt. identified as Joy in police custody, have beaten the , used a big stick ily injuries on her r and poured hot her private part. ect, according to

the police, is a security guard. But according to the police, Amodu said she did not mean to hurt the girl, saying she was angry with her for bed-wetting. As a result of the abuse, the girl, according to investigation, fainted. She was then taken to several hospitals, but was rejected because of her critical condition. Apparently, many of the hospitals feared she might die. She was later referred to the Military Hospital, Awolowo Road, Ikoyi, Lagos State. Police became involved after a shocked Nigerian, who saw the severe injuries on the girl’s body, alerted police and a NonGovernmental Organisation (NGO) to come to the victim’s aid. When police went to the

Danjuma on her hospital bed

hospital, they found the victim with a swollen face and hands. The state Police Public Relations Officer, DSP Ngozi Braide, said the 27-year-old Amodu was arrested for allegedly inflicting injuries on the girl. Braide said the suspect, who

plans to demolish illegal structures

overnment has o demolish buildr structures erectsignated as open

ssioner for Lands, ban Development, wosu, issued the day in Owerri, the uring an interacth journalists. to Nwosu, many ected illegal struc-

tures in some areas. He said: “There are areas in the Owerri city master plan designated as open spaces in line with global best practices, but we have a situation where some unscrupulous elements have defied government directives to build structures in such areas. And we have no option but to demolish them and that we shall do in no distant time.” The commissioner regretted that most of such open spaces designed to cater for the recreational needs of residents, espe-

cially children, had now been put to unwholesome use. He said: “Well, I can assure you, we will reclaim our spaces. We will demolish every structure occupying our open spaces and restore sanity to our environment.” Nwosu added that the black and white Certificate of Occupancy had been phased out in favour of a counterfeit-proof coloured certificate printed with currency paper. He urged owners of the old copies to go to the Ministry of Lands for re-certification.

maker distributes life ets in coastal communities

nla

by the frequent haps in coastal ities in Lagos maker representst Senatorial DisGbenga Ashafa, ed life jackets to of Agboyi-Ketu West local council areas. iciaries included boat operators in mmunities. aker also empownd other artisans unities, saying the of abject poverty as to empower the d. ng the life jackets, the recent boat

mishaps, which claimed many lives, called for serious concern despite warnings on the use of life jackets while travelling on water. The legislator said it was either the boat operators and the commuters lacked the wherewithal to acquire the jackets or they were just being obstinate to adopt safety measures. He said: “We are gathered here today to encourage ourselves to always remain alert and be safety conscious, especially for people who use the waterways as their major mode of transportation. “The donation of life jackets to the local commercial boat owners operating in the riverine communities is my own quota to salvage the lives

Amodu

of our people from preventable disasters. “I enjoin the local commercial boat owners operating here to make use of the life jackets for the suited purpose and the passengers too should always obey safety instructions, so that we can all live in a more prosperous Lagos. “A recent incident that cast a dark shadow on our national landscape comes to mind this minute. It happened on Tuesday, March 11, 2014 at Amuwo Odofin Local Government Area.” Harping on the donation, Ashafa enjoined the beneficiaries to make use of the empowerment tools maximally to meet their daily needs and not to sell them for quick cash.

claimed to work with a private security company in Lagos, beat up the victim with stick and inflicted different injuries on her body. She said: “On February 29, police at Onikan Division got information that a little girl was in one hospital in a criti-

Taiwo Jimoh

etermined to reduce carnage on the road, the Federal Road Safety Commission (FRSC) has launched an intervention safety programme code-named Operation Crash the Crashes on Lagos - Ibadan Expressway The one-week programme intended to check speed violation, is fortified with mobile court. Warning motorists at the flag off point at the Mowe Unit Command of the FRSC, Acting Zonal Commanding Officer, RS2 HQ, Corps Commander John Meheux, said all motorists must comply with the speed limit regulations on the highways. He warned that any motorist caught violating the speed limit on the highway during the oneweek the programme would face the wrath of the law. Meheux, who said that about 120 officers and men of the FRSC in the zone had been deployed to monitor and patrol the entire length of Lagos - Sagamu

FRSC offcials educating motorists

cal condition. “An NGO, the Hands that Cares was also invited into the case by a good Nigerian. The NGO has taken over the case with a view to settling the hospital bills, while calling for prosecution of the suspect.

“The State Criminal Investigation Department (SCID), Panti-Yaba, had investigated the case and the suspect will be charge to court. The legal department of the SCID would advise us on the offence she will be charge with.”

FRSC moves to reduce crashes section of the expressway, added that the officers were equipped with the state-of-the-art speed monitoring guns to detect an over-speeding driver. The corps commander also called on passengers to desist from putting drivers on pressure to engage in speed violation. He said: “What we are doing is to reduce road crashes along the corridor of Lagos – Ibadan Expressway. That is the essence of the flag-off of what you are seeing today.” Also speaking at the launch, Lagos State Sector Commander, Chidi Nkwonta, admonished motorists to stick to speed limits approved for highways in the country. According to him, for a car, the maximum speed allowed is 100 kilometres per hour while all other vehicles have approved speed limits below that of the

car. Nkwonta also warned motorists and passengers against any attempt at harassing the FRSC personnel in the course of carrying out their duty, noting that such criminal act would not be tolerated by the commission as suspects would be charged to court. The Lagos State sector commander warned all officers and menthatwouldbedeployedforthe assignment to resist any attempt that would make them to demand or accept any form of gratification from offending motorists. He reminded them that any FRSC officer caught indulging in such criminal act would face the full wrath of the law. Some drivers whose cars were impounded for violating traffic laws were also educated during the launch on how to be good road users.

46 BUSINESS | FINANCIAL MARKET NEWS

Sanctity of Truth

Wednesday, March 19, 2014

FMDQ Daily Quotations List

18-Mar-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.

Bonds

FGN Bonds Issuer

Rating/Agency

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

31-Mar-07 29-Jun-07 28-Sep-07 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 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

10.75 9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 15.00 12.49 8.50 10.00

35.00 45.00 100.00 535.00 327.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 150.00 200.00 591.57

31-Mar-14 29-Jun-14 28-Sep-14 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 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

0.04 0.28 0.53 1.10 2.41 3.11 3.36 3.46 4.20 5.28 5.60 7.86 14.70 15.18 15.68 16.35

12.56 13.36 14.41 14.19 14.50 14.30 14.22 14.22 14.22 14.30 14.19 14.14 14.01 14.01 14.00 14.05

8.55 12.82 14.10 14.02 14.42 14.18 14.10 14.10 14.11 14.22 14.09 14.08 13.97 13.95 13.93 13.99

99.91 98.79 97.46 89.95 97.10 101.90 88.60 87.06 89.11 106.10 72.83 110.40 106.03 90.51 65.39 74.25

100.06 98.94 97.61 90.10 97.25 102.20 88.90 87.36 89.41 106.40 73.13 110.70 106.33 90.81 65.69 74.55

10.75 31-MAR-2014 9.20 29-JUN-2014 9.25 28-SEP-2014 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 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

TOTAL OUTSTANDING VALUE Rating/Agency

4,117.04 Issuer

Agency Bonds AMCON FMBN

Price

***LCRM

Description

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

Issue Date

Coupon (%)

Issue 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 6.00 112.22 116.70 66.49

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

0.62 1.18 1.54 2.73 3.09 3.30

1.00 2.63 2.27 2.00 1.49 1.00

15.49 17.36 16.81 16.24 15.71 15.22

91.18 82.10 100.67 88.90 85.91 84.36

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

0.38 0.58 1.45 0.83 1.35 1.36 3.09 1.92 3.79 2.56 4.55 2.76 2.76 3.34 3.23 5.68 3.38 4.09 6.70 4.10 4.13

4.88 5.99 4.44 3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.44 1.95

18.79 20.44 19.03 17.90 19.10 18.12 19.81 21.94 16.01 16.05 15.22 15.24 15.45 15.22 16.68 16.12 16.96 16.96 15.14 15.66 16.17

98.17 96.61 92.02 95.75 94.36 97.28 78.08 88.03 94.39 95.80 96.09 98.59 104.60 98.24 97.22 94.04 94.69 93.87 93.18 101.68 101.34

1,304.32

Sub-National Bonds Bbb-/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR Bb+/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A/Agusto A-/GCR

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

14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

05-Aug-09 15-Oct-09 31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 30-Sep-13 27-Nov-13 31-Dec-13 06-Jan-14

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

TOTAL OUTSTANDING VALUE

567.90

Corporate Bonds A+/Agusto; AA/GCR Aa/Agusto Nil Bbb+/Agusto A-/Agusto BB+/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR BBB+/DataPro; BB+/GCR A-/DataPro; BB-/GCR AAA/DataPro; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BB+/DataPro; BB+/GCR A+/Agusto; A-/GCR

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00

LAFARGE WAPCO GTB µ NGC *UPDC *FLOURMILLS *CHELLARAMS NAHCO FSDH UBA *C & I LEASING *DANA# *TOWER# # *TOWER UBA *LA CASERA *CHELLARAMS# NAHCO

11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

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

11.50 13.50 17.00 10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00

11.80 13.17 2.00 15.00 37.50 1.50 15.00 5.53 20.00 0.94 8.01 3.63

07-Oct-14 18-Dec-14 31-Dec-14 17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18

0.56 0.75 0.79 0.94 1.01 1.10 2.53 2.61 3.54 2.15 2.06 2.48

1.00 5.21 8.71 4.88 1.00 2.63 1.00 1.34 4.52 1.88 3.48 5.20

15.43 19.82 23.35 19.65 15.82 17.41 15.26 15.59 18.74 16.16 17.77 19.46

97.96 95.69 95.55 92.24 96.69 97.04 95.39 97.17 85.61 104.33 97.07 97.42

09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 14-Nov-13

16.00 14.00 15.75 17.00 15.25

1.00 35.00 3.00 0.54 2.05

09-Sep-18 22-Sep-18 18-Oct-18 17-Feb-19 14-Nov-20

2.48 4.52 2.34 2.67 6.66

5.06 3.06 2.29 6.11 2.76

19.32 17.28 16.56 20.36 16.90

101.79 90.01 98.61 93.80 93.47

11-Feb-18

3.90

1.00

15.22

85.60

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

175.67

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

TOTAL OUTSTANDING VALUE Rating/Agency

12.00

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

FGN Eurobonds

Prices & Yields

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

FGN

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.67

5.53

106.04

106.88

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.74

4.56

101.46

102.19

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

6.09

5.96

102.03

102.93

TOTAL OUTSTANDING VALUE

1,500.00

Corporate Eurobonds Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.90

3.31

113.51

114.67

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.39

4.71

104.25

105.66

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.37

6.09

98.51

99.63

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.28

6.81

99.91

101.28

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.44

8.03

94.63

96.00

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

Rating/Agency

Description

Issuer

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

Issue Date

Coupon (%)

Issue 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 6.00 112.22 116.70 66.49

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

0.62 1.18 1.54 2.73 3.09 3.30

1.00 2.63 2.27 2.00 1.49 1.00

15.49 17.36 16.81 16.24 15.71 15.22

91.18 82.10 100.67 88.90 85.91 84.36

BUSINESS | FINANCIAL MARKET NEWS 1,304.32

Sanctity of Truth

Wednesday, March 19, 2014

Sub-National Bonds

RUSTY

Jonathan promises prompt action on NES summit proposal

Bbb-/Agusto KWARA A-/GCR NIGER A+/Agusto KADUNA A/Agusto *EBONYI Nil *BENUE A+/Agusto *IMO A+/Agusto; A+/GCR LAGOS A-/Agusto *BAYELSA A/Agusto EDO A+/Agusto; A+/GCR *DELTA ABUJA Bb+/Agusto; A-/GCR NIGER A/Agusto; A-/GCR† *EKITI A-/Agusto *NIGER inal recommendations A/Agusto; A-/GCR *ONDO arising from on-going A/Agusto; A-/GCR *GOMBE Nigerian Aa-/Agusto; AA-/GCR Economic LAGOS SumA/Agusto; *OSUNwill be mitA-/GCR on education A/Agusto *OSUN forwarded to the Federal ExAa-/Agusto; AA-/GCR LAGOS ecutive Council(FEC) for an A/Agusto *EKITI accelerated action plan, PresiA-/GCR *NASARAWA

14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75of BAYELSA 30-JUN-2017Mr Nyesom ister Education, 14.00 EDO 31-DEC-2017 Wike, said the government had 14.00 DELTA 30-SEP-2018 invested in basic 14.00 NIGERN144.7bilion II 4-OCT-2018 education between 2009 and 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 2013. 15.50 ONDO 14-FEB-2019 The money, he said was given 15.50 GOMBE 02-OCT-2019 as14.50 grants states to assist them LAGOSto 22-NOV-2019 OSUN 12-DEC-2019 in14.75 funding basic education. He 14.75although OSUN II 30-SEP-2020 said basic education 13.50 LAGOS IV 27-NOV-2020 was the responsibility of states 14.50 EKITI II 31-DEC-2020 and local government, 15.00 NASARAWA 06-JAN-2021 the Fed-

05-Aug-09 14.00 15-Oct-09 14.00 31-Aug-10 12.50 30-Sep-10 13.00 30-Jun-11 14.00 30-Jun-09 15.50 19-Apr-10 10.00 30-Jun-10 13.75 tor and the was need to devise 30-Dec-10 14.00 a structure that will ensure sus30-Sep-11 14.00 tainability of an improving edu04-Oct-11 14.00 09-Dec-11 cational system. He14.50 identified 12-Dec-13 14.00 human capital development as 14-Feb-12 15.50 the most important of all areas 02-Oct-12 15.50 that needed 22-Nov-12 urgent reform. 14.50 He12-Dec-12 cited a recent14.75 survey on 30-Sep-13 14.75 education and employability 27-Nov-13 13.50 that 31-Dec-13 estimated 24 million jobs 14.50 15.00next 10 were06-Jan-14 needed over the

17.00 05-Aug-14 0.38 6.00 15-Oct-14 0.58 8.50 31-Aug-15 1.45 16.50 30-Sep-15 0.83 13.00 30-Jun-16 1.35 18.50 30-Jun-16 1.36 57.00 19-Apr-17 3.09 50.00levels, are30-Jun-17 1.92 all producing gradu25.00 31-Dec-17 3.79 ates not fit for purpose, " he said. 50.00 30-Sep-18 2.56 speakers at4.55 the 9.00Meanwhile, 04-Oct-18 20.00 09-Dec-18 2.76 presidential policy dialogue 12.00 12-Dec-18 on NESG have canvassed2.76 im27.00 14-Feb-19 3.34 proved remuneration, adequate 20.00 02-Oct-19 3.23 funding and22-Nov-19 the need for 5.68 gov80.00 30.00 12-Dec-19 the needed 3.38 ernment to muster 11.40 30-Sep-20 4.09 political will to implement pol87.00 27-Nov-20 6.70 icy 5.00 recommendations. 31-Dec-20 4.10 5.00Contributing 06-Jan-21 4.13 to discussion

TOTAL OUTSTANDING VALUE dent Goodluck Jonathan has assured. Corporate Bonds He made A+/Agusto; AA/GCRthis commitment LAFARGE WAPCO yesterday while flagging off Aa/Agusto GTB µ NGC which Nil 20th series of NES, the Bbb+/Agusto *UPDC attracted various stakeholders A-/Agusto *FLOURMILLS both from public and private BB+/GCR *CHELLARAMS A+/Agusto; A-/GCR sector. NAHCO A-/Agusto The President FSDH said his A/GCR UBA administration has shown BBB-/GCR *C & I LEASING # enough commitments towards BBB+/DataPro; BB+/GCR *DANA A-/DataPro; BB-/GCR improving the education *TOWER# sec# AAA/DataPro; A+/GCR tor through various*TOWER initiatives A/Agusto; A/GCR UBA and action plans, one of which Bbb+/Agusto; BBB+/GCR *LA CASERA he said, was the establishment BB+/DataPro; BB+/GCR *CHELLARAMS# A-/GCR ofA+/Agusto; 12 new federal universities NAHCO TOTAL the OUTSTANDING across country. VALUE Represented Supranational Bond the by VicePresident, Arch. Namadi MoAAA/S&P IFC hammed Sambo, he said providTOTAL OUTSTANDING VALUE ing quality education remains a focalRating/Agency point of the present adIssuer ministration, stressing that no FGN Eurobonds stone would be left unturned in achieving that purpose . BB-/Fitch; B+/S&P However, Supervising MinBB-/Fitch;

eral Governmenthad since 2005 been dedicating two per cent of its11.50 education vote7-OCT for assistance LAFARGE WAPCO 2014 to13.50 theGUARANTY states. TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 Earlier, the Chairman, Nige10.00 UPDC 17-AUG-2015 ria Economic Summit Group, 12.00 FLOURMILLS 9-DEC-2015 Mr Foluso Phillips, 14.00 CHELLARAMS 06-JAN-2016said the 13.00 NAHCO summit on29-SEP-2016 is meant to draw at14.25 FSDH 25-OCT-2016 tention to the fact that there is a 13.00 UBA 30-SEP-2017 problem in the educational sec18.00 C&I LEASING 30-NOV-2017

years to reduce the current unemployment level by half. "That is why you would have 07-Oct-11 11.50 over 18-Dec-09 100,000 people13.50 applying 01-Apr-10 17.00 losing for 4,500 jobs, with some 17-Aug-10 10.00 their09-Dec-10 lives in the process. In ad12.00 dition06-Jan-11 to the deficit in14.00 jobs creat29-Sep-11to new entrants, 13.00 ed relative the 25-Oct-13 14.25a major quality of labour poses 30-Sep-10 13.00 challenge. Our institutions, at 30-Nov-12 18.00

567.90 on ways to revamp the educa-

Nigeria’s educational system is in dire strait.

Simeon Oguegbulem and Abdulwahab Isa

FGN

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

MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

tion sector, Managing Director Bank, Mr. Alex 11.80 of Diamod 07-Oct-14 0.56 13.17 said the18-Dec-14 0.75 Oti, government must 2.00 31-Dec-14 towards 0.79 show commitment im15.00 17-Aug-15 0.94 proving the quality of teachers 37.50 09-Dec-15 1.01 in 1.50public school. 06-Jan-16 He stressed 1.10 15.00 need for the 29-Sep-16 2.53to the government 5.53 25-Oct-16 on educa2.61 declare emergency 20.00 30-Sep-17 3.54 tion 0.94 30-Nov-17 2.15

09-Apr-11 09-Sep-11 09-Sep-11

16.00 18.00 16.00

8.01 3.63 1.00

09-Apr-18 09-Sep-18 09-Sep-18

2.06 2.48 2.48

22-Sep-11 18-Oct-13

14.00 15.75

35.00 3.00

22-Sep-18 18-Oct-18

4.52 2.34

18-Dec-09

5.13

500.00

12-Jul-18

4.74

01-Apr-10

6.38

500.00

12-Jul-23

6.09

Aso Savings to acquire Union Homes Chris Ugwu

so Savings & Loans Plc, one of the primary mortgage institutions 10.20 IFC 11-FEB-2018 (PMIs) quoted on the Nigerian Stock Exchange (NSE), yesterday, announced its intention toDescription acquire Union Homes Savings and Loans Plc (UHSL). 6.75 JAN 28, 2021 The primary mortgage company, in a notice to the NSE, 5.13 JUL 12, 2018 6.38 JUL 12, 2023

said 17-Feb-12 as part of Central dum of understanding (MoU) 17.00 Bank 0.54 17-Feb-19 2.67 14-Nov-13 (CBN's) 15.25 2.05 Nigeria's approved with Union14-Nov-20 Bank under6.66 the restructuring exercise, Union 175.67 supervision of the CBN. Bank of Nigeria Plc decided to The board of the primary sell Union Homes. mortgage firm has also approved 11-Feb-13 10.20 12.00 11-Feb-18 3.90 ''After a bidding process, Aso 12.00 the bank to implement a transacSavings was selected as the pre- tion implementation agreement ferred bidder in October, ("TIA") Aso Savings, Issue Date Coupon (%) 2013,'' Issue Value ($'mm) amongst Maturity Date Bid Yield (%) the PMI said. Union Homes Investment NigeAccording to Aso Savings, ria Limited, ("UHNL"), Union 07-Oct-11this objective, 6.75 it pro500.00 28-Jan-21 to achieve Homes Savings and Loans5.67 and ceeded to execute a memoran- Union Bank of Nigeria.

FMDQ Daily Quotations List

Investors lost N289bn in two days

4.88 18.79 98.17 5.99 20.44 96.61 4.44 19.03 92.02 3.23 17.90 95.75 4.46 19.10 94.36 3.48 18.12 97.28 5.59 19.81 78.08 7.60 21.94 88.03 1.79 16.01 94.39 1.80 16.05 95.80 1.00 15.22 96.09 1.00 15.24 98.59 1.21 15.45 he Nigerian bourse104.60 yester1.00 15.22 98.24 day continued to record 2.46 16.68 97.22 losses as16.12sell pressure 1.94 94.04 2.74 16.96 remained the primary94.69 price 2.74 16.96 93.87 determinant in the equities 1.00 15.14 93.18 market. 1.44 15.66 101.68 1.95 bears 16.17 101.34 The maintained their

Chris Ugwu

stronghold on the stock market as major blue-chip companies join the league of losers, caus1.00 15.43 97.96 19.82 95.69and ing5.21 market capitalisation 95.55 the8.71 All-Share23.35 Index to remain 4.88 19.65 92.24 on 1.00 the red zone. 15.82 96.69 Market watchers have97.04 attrib2.63 17.41 1.00the resurgence 15.26 95.39 to uted of bears 1.34 takings15.59 profit by market97.17 specu4.52 18.74 85.61 lators whose consequential ef1.88 16.16 104.33 fect3.48was a loss of N289 billion 17.77 97.07 19.46 97.42two or 5.20 2.4 per cent within the 5.06of trading 19.32in the value 101.79 of days 3.06 17.28 90.01 equities. 2.29 16.56 98.61 The key benchmark indi6.11 20.36 93.80 16.90 downtrend, 93.47 ces2.76maintained taking hits majorly from high net worth and medium stocks led1.00 by African Prudential 15.22 85.60and UBA Capital, while continuous bargain activities witnessed in Conglomerates, Financial SerOffer Yield (%) Bid Price Offer Price vices, Healthcare, Industrial Pricesand & Yields Goods Services sectors also contributed gloom 5.53 106.04 to the106.88 outlook recorded yesterday. 4.56

101.46

102.19

5.96

102.03

102.93

18-Mar-14

TOTAL OUTSTANDING VALUE 1,500.00 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. Corporate Eurobonds B-/S&P; B/Fitch

FGN Bonds

B+/S&P; B+/Fitch

Rating/Agency B+/S&P

Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

GTBank PLC II

Issuer

Access Bank PLC

B/S&P; B/Fitch

Fidelity Bank PLC

B/Fitch

Afren PLC II

B/S&P; B-/Fitch

First Bank PLC

B+/S&P; B+/Fitch

Afren PLC III

TOTAL OUTSTANDING VALUE **Treasury Bills

DTM 9 16 23 30 37 51 58 TOTAL OUTSTANDING VALUE 65 72 79 Rating/Agency 93 100 107 Agency Bonds 114 121 142 NA 170 261 296 310 TOTAL OUTSTANDING VALUE 324 338 Sub-National Bonds 352

Maturity 27-Mar-14 3-Apr-14 10-Apr-14 17-Apr-14 24-Apr-14 8-May-14 15-May-14 22-May-14 29-May-14 5-Jun-14 Issuer 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14 AMCON 17-Jul-14 FMBN 7-Aug-14 4-Sep-14 4-Dec-14 ***LCRM 8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15

Description

6.00 NOV 08, 2018

Issue Date 7.25 JUL 25, 2017

6.88 MAY 09, 201831-Mar-07 10.75 31-MAR-2014 9.20 29-JUN-201410.25 APR 08, 2019 29-Jun-07 9.25 28-SEP-2014 8.25 AUG 07, 202028-Sep-07 4.00 23-APR-2015 23-Apr-10 6.63 DEC 09, 2020 13.05 16-AUG-2016 16-Aug-13 15.10 27-APR-2017 27-Apr-12 9.85 27-JUL-2017 27-Jul-07 9.35 31-AUG-2017 31-Aug-07 10.70 30-MAY-2018 30-May-08 Discount (%) Offer29-Jun-12 Discount (%) 16.00Bid 29-JUN-2019 11.70 11.45 7.00 23-OCT-2019 23-Oct-09 11.90 11.65 16.39 27-JAN-2022 27-Jan-12 12.00 11.75 15.00 28-NOV-2028 28-Nov-08 12.25 12.00 12.49 22-MAY-2029 22-May-09 13.00 12.75 8.50 20-NOV-2029 20-Nov-09 12.55 12.30 10.00 23-JUL-2030 23-Jul-10 13.10 12.85 13.10 12.85 13.10 12.85 12.75 12.50 Description 12.60 12.35 13.20 12.95 13.00 12.75 13.30 0.00 AMCON 31-OCT-2014 (SR.5 TR.1)13.05 13.30 13.05 0.00 FMB 24-MAY-2015 13.05 17.25 FMB13.30 II 03-APR-2017 13.15 0.00/16.00 13.40 LCRM 09-DEC-2016 12.85 0.00/16.50 13.10 LCRM II 20-APR-2017 13.15 0.00/16.50 13.40 LCRM III 06-JUL-2017 13.50 13.25 13.45 13.20 13.45 13.20 13.60 13.35

Bbb-/Agusto KWARA 14.00 KWARA 5-AUG-2014 A-/GCR NIGER 14.00 NIGER 15-OCT-2014 A+/Agusto KADUNA 12.50 KADUNA 31-AUG-2015 A/Agusto *EBONYI 13.00 30-SEP-2015 *from the Amortising bonds, the average life is calculated andEBONYI not the duration Nil *BENUE 14.00 BENUE 30-JUN-2016 # Risk Premium is a combination of credit risk and liquidity risk premiums A+/Agusto *IMO 15.50 IMO 30-JUN-2016 **Exclusive of non-trading t.bills A+/Agusto; A+/GCR LAGOS 10.00 LAGOS 19-APR-2017 A-/Agusto *BAYELSA 13.75 BAYELSA 30-JUN-2017 A/Agusto EDO 14.00 EDO 31-DEC-2017 A+/Agusto; A+/GCR *DELTA 14.00 DELTA 30-SEP-2018 Bb+/Agusto; A-/GCR NIGER 14.00 NIGER II 4-OCT-2018 A/Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 A-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 A/Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 A/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 Aa-/Agusto; AA-/GCR LAGOS 14.50 LAGOS 22-NOV-2019 A/Agusto; A-/GCR *OSUN 14.75 OSUN 12-DEC-2019 A/Agusto *OSUN 14.75 OSUN II 30-SEP-2020 Aa-/Agusto; AA-/GCR LAGOS 13.50 LAGOS IV 27-NOV-2020

08-Nov-13

Coupon (%) 25-Jul-12 09-May-13 10.75 08-Apr-12 9.20

9.25 07-Aug-13

4.00 13.05 15.10 9.85 9.35 10.70 Bid 16.00 Yield (%) 11.73 7.00 11.96 16.39 12.09 15.00 12.37 12.49 13.17 8.50 12.77 10.00

09-Dec-13

13.38 13.41 13.45 13.11 Issue Date 13.02 13.70 13.52 13.88 28-Dec-11 13.91 24-May-10 14.03 03-Apr-12 14.29 09-Dec-11 14.45 20-Apr-12 15.03 06-Jul-12 15.25 15.27 15.36 15.65 05-Aug-09 15-Oct-09 31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 30-Sep-13 27-Nov-13

Bonds

11.50

450.00

01-Feb-16

3.90

3.31

113.51

114.67

7.50

500.00

19-May-16

5.39

4.71

104.25

Price 105.66

6.00

Outstanding Value 7.25 (N'bn)

300.00 31-Mar-14 300.00 29-Jun-14 28-Sep-14 300.00 23-Apr-15 360.00 16-Aug-16 27-Apr-17 2,960.00 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 Rate (%) 23-Oct-19 10.8750 27-Jan-22 11.1667 28-Nov-28 11.5000 22-May-29 11.8333 20-Nov-29 12.0833 23-Jul-30

02-May-18 0.04

8.44 12.56

FIXINGS

180 DAYS 4,117.04 365 DAYS

Coupon (%) NITTY Issue Value (N'bn) Rate (%) 13.0127 13.3237 978.35 13.4332 24.56 14.3397 6.00 14.5202 112.22 15.9924 116.70

0.00/16.50

66.49

NIFEX

1,304.32

Current Price ($/N) 17.00 BID($/N) 14.00 164.7000 14.00 6.00 OFFER ($/N) 164.8000 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50

08-Apr-19 0.28

0.53 07-Aug-20

8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00

13.36 5.27

14.41 7.41 1.10 14.19 6.50 2.41 14.50 3.11 14.30 3.36 14.22 3.46 Money Market 14.22 4.20 14.22 Tenor Rate (%) 5.28 14.30 5.60 14.19 OBB 10.33 7.86 14.14 14.70 14.01 O/N 10.54 15.18 14.01 15.68 REPO 14.00 Tenor Rate (%) 16.35 14.05

09-Dec-20

12.3333 12.6667

Tenor 1M 2M 0.00 3M 0.00 6M 17.25 9M 0.00/16.00 12M 0.00/16.50

6.37

Bid 7.28 Yield (%)

6.88 35.00

NIBOR

08-Nov-18

TTM (Yrs) 25-Jul-17

10.25 45.00

100.00 8.25 535.00 6.63 327.47 452.80 20.00 100.00 300.00 351.30 Tenor 233.90 CALL 600.00 7 75.00 DAYS 30150.00 DAYS 60200.00 DAYS 90591.57 DAYS

400.00

Maturity 350.00Date

Call 1M 3M 6M

Maturity Date

10.25 11.25 11.92 Avg.12.17 Life/TTM (Yrs)

NOTE:

6.09Yield Offer 6.81 (%)

Bid Price 99.91

12.82 4.60

98.79 114.15

8.03 8.55

14.10 6.88 14.02

0.83 1.35 1.36 3.09 1.92 3.79 2.56 4.55 2.76 2.76 3.34 3.23 5.68 3.38 4.09 6.70

99.63

Offer Price 101.28

94.63 99.91

96.00 100.06

98.94 115.59

97.46 103.08

97.61 105.08

89.95

6.24 14.42

100.50 97.10

2M 3M 6M # Risk 1Y

166.79 168.74 171.67 179.11 Valuation

90.10

101.56 97.25

14.18 101.90 102.20 14.10 88.60 88.90 14.10 87.06 87.36 Foreign Exchange (Spot & Forwards) 14.11 89.11 89.41 14.22 106.10 106.40 14.09 73.13 Tenor Bid72.83 ($/N) Offer ($/N) 14.08 110.40 110.70 Spot 164.30 164.40 13.97 106.03 106.33 7D 164.97 165.24 13.95 90.51 90.81 14D 165.73 165.61 13.93 65.39 65.69 1M 165.83 166.57 13.99 74.25 74.55

Premium (%)

:Benchmarks 31-Oct-14 0.62 1.00 * :Amortising Bond 24-May-15 1.18 2.63 µ :Convertible Bond 03-Apr-17 1.54 2.27 AMCON: Asset Management Corporation of Nigeria 09-Dec-16 2.73 2.00 FGN: Federal Government of 3.09 Nigeria 20-Apr-17 1.49 FMBN: 06-Jul-17 Federal Mortgage Bank of Nigeria 3.30 1.00 IFC: International Finance Corporation LCRM: Local Contractors Receivables Management NAHCO: Nigerian Aviation Handling Company NGC: Nigeria-German Company 05-Aug-14 4.88 UBA: United Bank for Africa 0.38 0.58 Company 5.99 UPDC: 15-Oct-14 UAC Property Development 31-Aug-15 4.44 WAPCO:West Africa Portland 1.45 Cement Company 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20

98.51

3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00

Yield (%)

168.39 171.19 176.31 188.34 Indicative

Price

NA :Not15.49 Applicable 91.18 # :Floating 17.36Rate Bond 82.10 ***: Deferred 16.81 coupon bonds 100.67 16.24 15.22

88.90 85.91 84.36

18.79 20.44 19.03 17.90 19.10 18.12 19.81 21.94 16.01 16.05 15.22 15.24 15.45 15.22 16.68 16.12 16.96 16.96 15.14

98.17 96.61 92.02 95.75 94.36 97.28 78.08 88.03 94.39 95.80 96.09 98.59 104.60 98.24 97.22 94.04 94.69 93.87 93.18

†: Bond15.71 rating expired

48 BUSINESS | MONEY LINE

Sanctity of Truth

Wednesday, March 19, 2014

‘Nigeria's economy overtaking S’Africa's deceptive'

PARADOX Nigeria is getting richer, while more people remain poor.

s Nigeria gets richer, more Nigerians live in poverty. That’s the paradox of growth in Africa’s biggest oil producer, its most populous nation and which, as of March 31, may be its top-ranked economy. The National Bureau of Statistics according to Bloomberg news, is recalculating the value of gross domestic product based on production patterns in 2010, the first time it’s overhauled the data in two decades. That may boost the size of the economy by as much as 60 per cent to between $384 billion and $424 billion, according to Londonbased Renaissance Capital Ltd., putting Nigeria ahead of South Africa and close to Austria and Thailand in the World Bank’s global league table. Yet the most recent poverty survey by the Nigerian statistics agency, published in 2012, shows that 61 per cent of Nigerians were living on less than a dollar a day in 2010, up from 52 per cent in 2004. In the desert north, where Amnesty International estimates more than 600 people have been killed this year

as the government struggles to quell a violent Islamist insurgency, poverty is even starker. “Reducing poverty and inequality requires not just economic growth but also job creation and investment in improving the productive capacity of the economy and its people,” Giulia Pellegrini, sub-Saharan Africa economist at JPMorgan Chase & Co. in London, said in an e-mail. Oil Dependency These tensions underscore the shortcomings of the region’s economic powerhouse, whose growth potential has spurred investment from Cincinnati-based Procter & Gamble Co. (PG) to MTN Group Ltd. (MTN), Africa’s biggest mobilephone operator. While Nigeria’s economy has expanded 6 percent a year since 2006, according to the World Bank, the nation’s power supply is less than a 10th of South Africa’s. Nigeria’s benchmark stock index has dropped 12 per cent since the beginning of the year, after surging 47 per cent in 2013. The currency fell 0.1 per cent to N164.82 per dollar at 2:06 p.m. in

President Goodluck Jonathan

Lagos, the commercial capital, extending this year’s losses to 2.7 per cent. Oil production is concentrated in the south, with revenue accounting for about 80 per cent of government funds and more than 95 per cent of foreign income, according to the Finance Ministry. The government anticipates oil and gas income of N7.16 trillion ($44 billion) in 2014. Joblessness among young Nigerians may undermine economic progress in a nation where 23.9 per cent of the work-

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

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

ing population is unemployed, according to data from the Central Intelligence Agency’s World Fact book. It estimates that 62 per cent of the nation’s 177 million people are below the age of 25. Jobseekers stampede “The large number of underemployed youth is a serious threat to the economic and political stability of the country. The median age in Nigeria is 14, and the population continues to grow at a rate close to 3 per cent” a year, John Litwack, the World Bank’s lead economist for Nigeria, said by e-mail. On March 15, seven young jobseekers were killed in a stampede at an immigration service recruitment day in Abuja. Another eight people died in crowds at recruitment drives in three other cities. The north is particularly vulnerable with poverty rates estimated at about 80 percent, according to Oyin Anubi, subSaharan Africa economist at Bank of America Merrill Lynch in London. The government says its Federal Initiative for the North East will revive schools, health services and farming, in a region where poverty and lack of opportunity have bred a sense of alienation. Islamist militant group Boko Haram has sought to exploit that sentiment in order to destabilize the government, conducting a deadly campaign of bomb and gun attacks since 2009. ‘Persistent Inequality’ “Unequal distribution of this oil wealth has contributed to a persistent inequality problem,” Anubi said in an e-mailed response to questions. Poverty poses “a risk to the stability of that region.” One reason why tens of millions of Nigerians still live in

poverty is that growth has been concentrated on sectors that are less labour-intensive, such as oil, telecommunications, and banking. Development of agriculture, the biggest employer in the economy, has been largely ignored by the government until recently, said Funmi Akinluyi, investment director at Silk Invest, a frontier markets specialist based in London. “Growth in Nigeria has not been inclusive in decades,” she said in an e-mail. “Once agriculture gets the traction it needs we will have a stronger and a more diverse economy.” Business ranking Paul Nwabuikwu, spokesman for Finance Minister Ngozi Okonjo-Iweala, said in a Feb. 26 statement that there have been “visible achievements in roads, rail, power privatisation, agriculture and job creation programmes.” While the boost to Gross Domestic Product (GDP) may improve the investment outlook for Nigeria, social progress is slow. Nigeria is, along with Afghanistan and Pakistan, one of only three countries in the world where polio is still endemic, according to the International Federation of Red Cross and Red Crescent Societies. The US and UK, fearful of terrorism and kidnapping, warn their citizens to stay away from huge swathes of the country, while the World Bank’s most recent Ease of Doing Business survey in June ranked Nigeria at 147, only marginally better than Iraq and Sudan. By contrast, South Africa was at 41 and Ghana 67. Corruption Index Nigeria was listed at 144th out of 177 countries on Transparency International’s Corruption Perception Index last year. The nation’s leap up the wealth league table may intensify scrutiny of President Goodluck Jonathan’s administration. “The greater economic visibility should place more pressure on the Federal Government to undertake economic reforms, infrastructure, job creation, necessary to sustain the current trajectory of GDP growth,” Adewale Okunrinboye, an analyst at Lagos-based ARM Asset Management, which manages the equivalent of about $2.7 billion in assets, said in an e-mailed response to questions.

Daily Summary as of 18/03/2014 Printed 18/03/2014 15:53:44.044

Daily Summary (Equities) Activity Summary on Board EQTY HEALTHCARE Pharmaceuticals Pharmaceuticals Totals

Sanctity of Truth

Wednesday, March 19, 2014

BUSINESS | CAPITAL MARKET 49 Symbol

No. of Deals 82

HEALTHCARE Totals

Current Price

Quantity Traded 2,187,573

Value Traded 32,258,743.74

2,187,573

32,258,743.74

The Nigerian Stock Market Exchange as at March 18, 2014 ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals

Daily Summary as of 18/03/2014

Printed 18/03/2014 15:53:44.044

Daily Summary (Bonds)

Processing Systems CHAMS PLC Processing Systems Totals

No Debt Trading Activity

Daily Summary (Equities)

Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 3 10 33 46

Current Price 0.50 42.00 41.00

Quantity Traded 551,049 43,595 482,624 1,077,268

Value Traded 275,524.50 1,739,440.50 19,729,811.30 21,744,776.30

Symbol LIVESTOCK

No. of Deals 9 9

Current Price 3.55

Quantity Traded 230,200 230,200

Value Traded 816,132.00 816,132.00

1,307,468

22,560,908.30

Quantity Traded 129,075 23,210,933 882,589 24,222,597

Value Traded 181,866.90 86,654,181.05 54,941,794.65 141,777,842.60

24,222,597

141,777,842.60

AGRICULTURE Totals Daily Summary as of 18/03/2014 CONGLOMERATES Printed 18/03/2014 15:53:44.044 Diversified Industries

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

55 Symbol AGLEVENT TRANSCORP UACN

No. of Deals 11 197 59 Daily Summary (Equities) 267

CONGLOMERATES Activity Summary onTotals Board EQTY CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other Published by The Nigerian Stock Exchange © COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Current Price 1.41 3.76 62.00

267

Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF Activity Summary on NORTH.NIG. Board EQTYPLC

INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC DN MEYER PLC. FIRST ALUMINIUM NIGERIA PLC PAINTS AND COATINGS MANUFACTURES PLC Published by The Nigerian Stock Exchange © PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

Symbol COSTAIN

No. of Deals 17 17

Current Price 1.45

Quantity Traded Page 402,784 402,784

Value Traded 1 of 12 584,536.80 584,536.80

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

Symbol JBERGER

No. of Deals 9 9

Current Price 75.00

Quantity Traded 30,884 30,884

Value Traded 2,200,485.00 2,200,485.00

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

Symbol UAC-PROP

No. of Deals 15 15

Current Price 19.25

Quantity Traded 116,177 116,177

Value Traded 2,125,232.65 2,125,232.65

549,845

4,910,254.45

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Beverages--Brewers/Distillers Daily Summary as of 18/03/2014 CHAMPION BREW. PLC. Printed 18/03/2014 15:53:44.044

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

41 Symbol DUNLOP

No. of Deals 1 1

Current Price 0.50

Quantity Traded 20,000 20,000

Value Traded 10,000.00 10,000.00

No. of Deals 2 140 22 165 Daily Summary (Equities) 329

Current Price 14.51 170.00 25.00 145.01

Quantity Traded 16,000 1,727,156 161,845 5,421,921 7,326,922

Value Traded 220,640.00 291,361,880.75 4,030,836.00 786,008,183.92 1,081,621,540.67

Symbol CHAMPION GUINNESS INTBREW NB

Page

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

Symbol 7UP

No. of Deals 26 26

Current Price 88.01

Quantity Traded 130,317 130,317

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UNIONDICON UTC

No. of Deals 42 114 56 43 11 7 3 276

Current Price 9.00 8.90 74.50 3.50 11.87 14.14 0.54

Quantity Traded 370,877 2,592,401 5,240,047 1,632,571 210,600 102,125 11,553 10,160,174

Value Traded 3,324,254.79 22,997,743.50 419,237,096.29 5,773,099.05 2,500,522.00 1,381,085.00 6,011.22 455,219,811.85

Food Products--Diversified CADBURY NIGERIA PLC.

Symbol CADBURY NESTLE

No. of Deals 48 103 151

Current Price 85.40 975.08

Quantity Traded 136,695 241,812 378,507

Value Traded 11,242,117.20 236,091,186.39 247,333,303.59

Household Durables VITAFOAM NIG PLC. Household Durables Totals

Symbol VITAFOAM

No. of Deals 17 17

Current Price 4.07

Quantity Traded 137,200 137,200

Value Traded 553,458.50 553,458.50

Symbol PZ UNILEVER

No. of Deals 29 65

Current Price 34.00 44.65

Quantity Traded 102,199 556,385

Value Traded 3,304,663.70 24,135,998.18

Symbol

No. of Deals 94

Current Price

Quantity Traded 658,584

18,811,704

1,823,689,214.49

Current Price 7.60 6.50 13.40 2.05 23.79 3.33 2.24 6.70 10.25 0.50 0.94 20.50

Quantity Traded 12,982,380 5,003,176 12,441,805 13,349,700 28,932,951 18,738,830 8,736,771 32,537,507 417,114 26,239 5,090,387 17,040,150 155,297,010

Value Traded 99,594,200.85 32,305,151.94 166,456,456.29 27,384,405.14 669,883,635.51 63,509,858.20 19,067,534.39 224,511,300.36 4,238,520.72 13,119.50 4,775,669.83 353,686,113.41 1,665,425,966.14

Current Price

Quantity Traded

Value Traded

Daily Summary as of 18/03/2014 NESTLE NIGERIA PLC. Food Products--Diversified Totals Printed 18/03/2014 15:53:44.044

Personal/Household Products P Z CUSSONS NIGERIA PLC.

UNILEVER NIGERIA PLC.EQTY Activity Summary on Board

Personal/Household Products Personal/Household Products Totals

Daily Summary (Equities)

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC Daily Summary as of 18/03/2014 UNION BANK NIG.PLC. Printed 18/03/2014 15:53:44.044 UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals Insurance Carriers, Brokers and Services

Activity Summary on Board EQTY

894 Symbol ACCESS DIAMONDBNK ETI FIDELITYBK GUARANTY SKYEBANK STERLNBANK UBA UBN UNITYBNK WEMABANK ZENITHBANK

No. of Deals 195 74 113 82 344 233 53 224 56 2 46 411 Daily Summary (Equities) 1,833 Symbol

No. of Deals

FINANCIAL SERVICES Insurance Carriers, Brokers and Services Symbol No. of Deals AFRICAN ALLIANCE INSURANCE COMPANY PLC AFRINSURE 1 AIICO INSURANCE PLC. AIICO 45 Published byCONTINENTAL The Nigerian Stock Exchange © PLC REINSURANCE CONTINSURE 3 CORNERSTONE INSURANCE COMPANY PLC. CORNERST 2 GREAT NIGERIAN INSURANCE PLC GNI 4 GUINEA INSURANCE PLC. GUINEAINS 4 CONSOLIDATED HALLMARK INSURANCE PLC HMARKINS 2 INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS 13 LASACO ASSURANCE PLC. LASACO 1 LINKAGE ASSURANCE PLC LINKASSURE 1 MANSARD INSURANCE PLC MANSARD 6 N.E.M INSURANCE CO (NIG) PLC. NEM 44 NIGER INSURANCE CO. PLC. NIGERINS 3 OASIS INSURANCE PLC OASISINS 13 PRESTIGE ASSURANCE CO. PLC. PRESTIGE 12 SOVEREIGN TRUST INSURANCE PLC SOVRENINS 1 Daily Summary as of 18/03/2014 STANDARD ALLIANCE INSURANCE PLC. STDINSURE 1 Printed 18/03/2014 15:53:44.044 UNITY KAPITAL ASSURANCE PLC UNITYKAP 2 UNIVERSAL INSURANCE COMPANY PLC UNIVINSURE 2 WAPIC INSURANCE PLC WAPIC 50 Insurance Carriers, Brokers and Services Totals 210 Daily Summary (Equities) Micro-Finance Banks

Value Traded 11,510,438.00 11,510,438.00

Page

Value Traded 27,440,661.88

Current Price 0.50 0.79 1.00 0.52 0.50 0.50 0.50 0.56 0.50 0.50 2.14 0.76 0.50 0.54 0.58 0.50 0.50 0.50 0.50 0.73

Quantity Traded 100 3,104,139 Page 580,000

Value Traded 50.00 2,434,561.23 4 of 582,230.00

105,000 800 13,000 10,000 1,816,802 2,000 1,000 500,400 6,879,595 80,002 1,485,400 1,105,805 10,000 1,000 11,000 2,100 5,075,454 20,783,597

54,600.00 416.00 6,500.00 5,000.00 1,018,015.48 1,000.00 500.00 1,073,554.00 5,082,816.50 40,001.00 802,126.00 632,607.42 5,000.00 500.00 5,500.00 1,050.00 3,723,624.48 15,469,652.11

Quantity Traded 10,000,000 10,000,000

Value Traded 5,000,000.00 5,000,000.00

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 24 38 478 61 1 21 75 698

Current Price 2.91 2.00 11.70 3.12 0.59 19.91 2.19

Quantity Traded 1,125,976 2,041,455 16,975,121 9,347,556 3,500 320,637 5,817,351 35,631,596

Value Traded 3,277,790.16 4,024,368.38 199,361,281.77 29,178,123.18 1,995.00 6,378,066.25 12,783,936.88 255,005,561.62

221,863,683

1,941,013,275.07

Current Price 2.33 3.00 70.00 1.90 1.68

Quantity Traded 15,000 1,062,850 395,020 662,186 52,517

Value Traded 33,300.00 3,188,867.00 27,654,082.00 1,294,266.18 88,228.56

Current Price

Quantity Traded 2,187,573

Value Traded 32,258,743.74

2,187,573

32,258,743.74

Symbol No. of Deals EVANSMED 4 FIDSON 15 GLAXOSMITH 18 MAYBAKER 44 Daily Summary (Equities) NEIMETH 1

Activity Summary on Board EQTY

Page

No. of Deals 82 82

Symbol TRIPPLEG

No. of Deals 1 1

Current Price 1.97

Quantity Traded 400 400

Value Traded 752.00 752.00

Symbol CHAMS

No. of Deals 3 3

Current Price 0.50

Quantity Traded 173,000 173,000

Value Traded 86,500.00 86,500.00

173,400

87,252.00

Quantity Traded 938,881 16,977 34,367 183,390

Value Traded 13,894,930.42 145,323.12 1,469,489.60 1,531,938.00

4 No. of Deals 57 6 16 16

Current Price 14.73 9.01 45.00 8.76

Page

Value Traded 282,010.78 282,010.78

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

Symbol AVONCROWN BETAGLAS

No. of Deals 1 10 11

Current Price 1.55 18.40

Quantity Traded 3,000 268,468 271,468

Value Traded 4,860.00 4,912,216.76 4,917,076.76

4,295,244

358,697,514.48

Quantity Traded 5,000 5,000

Value Traded 31,650.00 31,650.00

243 Symbol BOCGAS

No. of Deals 3 3

Current Price 6.66

Value Traded 95,387,385.86 15,400.00 14,139.50 181.00 7 294,204.00 of 12 240,745,435.44 353,498,426.94

5,000

31,650.00

Page

Daily Summary (Equities)

Symbol JAPAULOIL

No. of Deals 7 7

Current Price 0.50

Quantity Traded 830,010 830,010

Value Traded 415,005.00 415,005.00

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

Symbol OANDO

No. of Deals 234 234

Current Price 14.59

Quantity Traded 9,831,308 9,831,308

Value Traded 143,596,804.64 143,596,804.64

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 8 18 29 29 4 48 136

Current Price 51.90 3.85 93.86 117.00 54.44 160.00

Quantity Traded 5,806 193,867 251,173 166,011 8,642 139,591 765,090

Value Traded 292,236.58 710,536.82 23,575,097.78 19,864,342.65 446,964.24 22,120,920.33 67,010,098.40

11,426,408

211,021,908.04

Printed 18/03/2014 15:53:44.044 Courier/Freight/Delivery RED STAR EXPRESS PLC

377 Symbol RTBRISCOE

No. of Deals 1 1

Current Price 1.35

Quantity Traded 4,000 4,000

Value Traded 5,160.00 5,160.00

Symbol REDSTAREX

No. of Deals 6

Current Price 4.35

Quantity Traded 236,180

Value Traded 1,027,083.00

Daily Summary (Equities)

Page

Symbol

No. of Deals 6

Current Price

Quantity Traded 236,180

Value Traded 1,027,083.00

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 2 2

Current Price 0.50

Quantity Traded 25,000 25,000

Value Traded 12,500.00 12,500.00

Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL

No. of Deals 6 6

Current Price 0.66

Quantity Traded 358,116 358,116

Value Traded 236,356.56 236,356.56

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

Symbol ACADEMY UPL

No. of Deals 2 22 24

Current Price 1.80 3.51

Quantity Traded 14,980 638,615 653,595

Value Traded 25,615.80 2,267,350.85 2,292,966.65

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 5 5

Current Price 0.95

Quantity Traded 284,692 284,692

Value Traded 262,377.77 262,377.77

Symbol NSLTECH

No. of Deals 2 2

Current Price 0.50

Quantity Traded 28,000 28,000

Value Traded 14,000.00 14,000.00

Symbol AIRSERVICE NAHCO

No. of Deals 3 32

Current Price 2.93 4.99

Quantity Traded 6,500 353,358

Value Traded 18,135.00 1,780,042.15

Daily Summary (Equities)

Page

Activity Summary on Board EQTY

Current Price 0.50

2,750

Quantity Traded 163,990 163,990

No. of Deals 5 5

Symbol ASHAKACEM BERGER CAP CCNN

Value Traded 13,894,930.42 145,323.12 1,469,489.60 1,531,938.00

Current Price 1.74

Specialty SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals Daily Summary as of 18/03/2014 Printed 18/03/2014 15:53:44.044 Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC

Symbol ASOSAVINGS

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC

Quantity Traded 938,881 16,977 34,367 183,390

No. of Deals 16 16

SERVICES Courier/Freight/Delivery Courier/Freight/Delivery Totals

Mortgage Carriers, Brokers and Services ASO SAVINGS AND LOANS PLC Mortgage Carriers, Brokers and Services Totals

ICT Totals

Current Price 14.73 9.01 45.00 8.76

Symbol No. of Deals ASHAKACEM 57 BERGER 6 Daily Summary (Equities) CAP 16 CCNN 16

Activity Summary on Board EQTY

5Value Traded of 12 112,095.20

Processing Systems CHAMS PLC Processing Systems Totals

87,252.00

Symbol CUTIX

Page Quantity Traded 151,480

ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals

173,400

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

SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Daily Summary as of 18/03/2014

Current Price

HEALTHCARE Totals

Value Traded 86,500.00 86,500.00

OIL AND GAS Totals

No. of Deals 4

Symbol

Quantity Traded 173,000 173,000

Quantity Traded 407,807 11,000 28,279 100 Page 63,400 2,175,585 3,859,786

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

Symbol

Pharmaceuticals Pharmaceuticals Totals

Current Price 0.50

Activity Summary on Board EQTY

Value Traded 112,095.20

No. of Deals 3 3

NATURAL RESOURCES Totals

Quantity Traded 151,480

HEALTHCARE Pharmaceuticals Daily Summary as of 18/03/2014 EVANS MEDICAL PLC. Printed 18/03/2014 15:53:44.044 FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

Symbol CHAMS

Current Price 228.40 1.34 0.50 1.90 4.88 110.00

Current Price 0.74

FINANCIAL SERVICES Totals

Value Traded 752.00 752.00

No. of Deals 55 4 1 1 9 51 216

Daily Printed 18/03/2014 15:53:44.044

No. of Deals 4

Quantity Traded 400 400

Symbol DANGCEM DNMEYER FIRSTALUM PAINTCOM PORTPAINT WAPCO

NATURAL RESOURCES Chemicals PLC. SummaryB.O.C. as of GASES 18/03/2014 Chemicals Totals

Symbol NPFMCRFBK

Activity Summary on Board EQTY NPF MICROFINANCE BANK PLC

Current Price 1.97

INDUSTRIAL GOODS Totals

No. of Deals 1 1

ICT Totals

Daily Summary as of 18/03/2014 Printed INDUSTRIAL 18/03/2014 15:53:44.044 GOODS

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals

Symbol TRIPPLEG

SERVICES Transport-Related Services Transport-Related Services Totals

Symbol

No. of Deals 35

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

Current Price

Quantity Traded 359,858

Value Traded 1,798,177.15

1,949,441

5,648,621.13

4,797

286,792,363

4,541,697,184.30

Quantity Traded 1,000 1,000

Value Traded 1,310.00 1,310.00

1,000

1,310.00

Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals

Symbol MCNICHOLS

No. of Deals 1 1

CONSUMER GOODS Totals

ASeM Board Totals Daily Equity Summary as of 18/03/2014 Activity Totals Printed 18/03/2014 15:53:44.044

1,000

1,310.00

4,798

286,793,363

4,541,698,494.30

Daily Summary (ETP) Exchange Traded Fund

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

Current Price 1.37

Symbol NEWGOLD VETGRIF30

No. of Deals 2 6 8

Current Price 2,159.00 16.71

Quantity Traded Page 100 55,600 55,700

Value Traded 11 215,900.00 of 929,731.00 1,145,631.00

ETF Board Totals

55,700

1,145,631.00

ETP Activity Totals

55,700

1,145,631.00

50 WORLD | NEWS

Sanctity of Truth

Wednesday, March19, 2014

Russia, Crimea sign treaty over territorial integration Sylva Okereke

with Agency Report

ussia has signed a treaty to incorporate Crimea into its territory, following a referendum in which residents of Ukraine’s region overwhelmingly backed the move. President Vladimir Putin signed the document yesterday with Crimea’s Prime Minister and Parliament Speaker, following a televised address to the nation in which he defended Crimea’s vote, describing it as a restoration of historical justice. The agreement has to be

endorsed by Russia’s Constitutional Court and ratified by both houses of parliament to take effect. Those steps are considered mere formalities. Putin has accused the West of encouraging unrest in Ukraine in order to break its historic ties with Russia and dismissed Western criticism of the Crimean vote as illegitimate. Fiercely defending Russia’s move to annex Crimea, President Putin said Russia had to respond to what he described as a Western plot to take Ukraine into its sphere of influence. Speaking before the par-

liament in a televised address to the nation, Putin said the rights of ethnic Russians had been abused by the new Ukrainian government. He insisted that Crimea’s vote to join Russia was in line with international law and reflected its right for self-determination. At the same time, the Russian leader said his nation didn’t want to move into other regions of Ukraine, saying “we don’t want division of Ukraine.” Putin’s speech came just hours after he approved a draft bill for the annexation of Crimea, a key move in a flurry of steps to formally

take over the Black Sea peninsula. To back his claim that Crimea’s vote was in line with international law, Putin pointed to Kosovo’s independence bid from Serbia, supported by the West and opposed by Russia and said Crimea’s secession from Ukraine repeats Ukraine’s own secession from the Soviet Union in 1991. He denied Western accusations that Russia invaded Crimea prior to the referendum, saying Russian troops were sent there in line with a treaty with Ukraine that allows Russia to have up to 25,000 troops at its Black Sea Fleet base in Crimea. He said the protests that

drove out Ukrainian President, Viktor Yanukovych were encouraged by the West. Russia’s Constitutional Court and the Kremlin-controlled parliament are expected to quickly endorse the move. Crimea on Sunday voted overwhelmingly to secede from Ukraine and seek to join Russia. The hastily called vote was held two weeks after Russian troops had overtaken the Black Sea peninsula. The West and Ukraine described the referendum, which was announced two weeks ago, as illegitimate and being held at gunpoint. But residents on the peninsula voted overwhelmingly to join Russia.

We will change our deportation policy –Obama

Pro-Kremlin activists rally in southern Russian city of Rostov-on-Don, yesterday, to celebrate the incorporation of Crimea. President Vladimir Putin pushed every emotional button of the collective Russian psyche as he justified the incorporation of Crimea, citing everything from ancient history to Russia’s demand for respect to Western double standar ds. AFP PHOTO / SERGEI VENYAVSKY

Pistorius trial: Defence alleges police error

he photographs of bloodstained scene, taken by the Police shows where Oscar Pistorius shot dead his girlfriend indicating that evidence was moved around in violation of procedure during the investigation of the killing, the chief defence lawyer said yesterday. Warrant Officer, Bennie van Staden took hundreds of photos of the scene, including blood marks, bullet casings, a gun and a cricket bat found inside Pistorius’ bathroom, after the double-amputee athlete killed girlfriend Reeva Steenkamp. Lawyer, Barry Roux has challenged previous police witnesses, seeking to uncover contradictions and reported mishaps to support his argument that officers bungled the investigation. He asked van Staden to ex-

plain differences in photographs of the 9mm pistol that Pistorius used to shoot Steenkamp through a closed toilet door and of a cricket bat that the Paralympian used to hit the door. “It seems there was movement of the bat” in the interval between two photographs taken by van Staden, Roux said. It seems like that,” van Staden conceded. The police photographer also acknowledged that two photographs of the gun indicated that a mat underneath it could have been shifted. Roux said one photo also differed from the other because it showed a wooden splinter on the gun handle and he questioned van Staden’s statement that he remembered being alone while taking photographs. “Are you sure that you were alone up there?” Roux said, citing timelines from the photos

of another officer as evidence that they were in the same area at the same time. “There was a great overlap early in the morning. You were together in the bathroom, sometimes together in the bedroom.” He has said he took nine photographs of Pistorius soon after the shooting, with the athlete seen in some of the images standing in blood-stained prosthetic legs and wearing bloodsoaked shorts in the garage of his home. Pistorius, 27, is charged with premeditated murder for killing Steenkamp, 29. He pleaded not guilty to murder and says he shot his girlfriend accidentally, thinking she was an intruder in a toilet cubicle in the bathroom, and that he struck the toilet door with a cricket bat to get to Steenkamp after realizing what he had done.

resident Barack Obama has said, his administration would change its deportation policy to become more “humane”. Already, pro-immigrant activists have embarked on hunger strikes to express displeasure over inhuman treatments of immigrants by immigration. “Make deportation policy ‘more humane”, Obama told the DHS Christian Science Monitor. As recently as last year, immigrant rights activists, along with an unusually-broad coalition of business, labour and religious groups were united in their demands that Congress pass a sweeping bill to remove the threat of deportation of 11 million immigrants and eventually make them citizens. Activists just want to stop deportations. They have pressured Obama to limit the number of people sent

back overseas, which led to his administration’s announcement of a review of deportation policies, after a meeting with the Hispanic Congressional Caucus. Activists are also pushing state legislatures to end participation in a programme to help federal immigration authorities to deport people and chain themselves across entrances to local jails or immigration detention centers. “We need relief and we need it soon,” said Reyna Montoya, 23, of Phoenix, whose father is fighting deportation and who co-wrote an open letter with dozens of other young activists, urging immigrant rights groups to stand down on the citizenship issue. People, who are directly affected just want peace. Later on, they will worry about becoming citizens”, the activists noted.

Kenyan police arrest two bombers

enyan police have arrested two men, suspected to be members of Somali Islamist militant group, after they were found to have two large bombs, aimed at the port city of Mombasa, a senior police officer has said. The two men arrested would appear in court to face formal charges, the police said. Somali al Shabaab Islamist group has claimed several attacks on Kenya in the past. After a September raid by gunmen on a Nairobi shopping mall that killed at least 67 people, the group said it planned more attacks. The coast, which is popular

with tourists, has been a target. Al Shabaab have demanded that Kenyan troops withdraw from Somalia, where they have been fighting the Islamist rebels. “Our first suspicion is that they are al Shabaab, especially because of their origin,” Robert Kitur, Mombasa police chief told Reuters, adding that one man was Somali and the other was a Kenyan of Somali origin. Kenya, which is close to Somalia, has a large community of ethnic Somalis. Police recovered two large improvised explosive devices (IEDs), or hand-made bombs from the men, Kitur said.

Zenith Bank boosts b’ball league with N90m Ifeanyi Ibeh

igeria’s Female National Basketball League, on Tuesday, received a massive financial boost after Zenith Bank declared the sum of N90m (ninety million naira) as sponsorship

money for the championship, which is now in its 10th year. At a press briefing held in Lagos to herald the 2013/2014 season, which gets underway on Friday in Abuja, Zenith Bank’s Head of Sponsorship, Marcel Okeke, presented a cheque of N90m to

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

the president of the Nigeria Basketball Federation, Tijani Umar, as sponsorship money for the next three seasons. A breakdown of the sponsorship deal will see the sum of N25m going into the 2014 season’s campaign, which is a five CONTINUED ON PAGE 53 NBBF boss, Tijani Umar

Did you know?

NEW TELEGRAPH

newtelegraphonline.com/sports

ADEKUNLE SALAMI, DepUTY Editor, SPORTS kunle.salami@newtelegraphonline.com adekunles@yahoo.com

That the last time Arsenal won 3 times in a season vs Tottenham was back in 88/89 and lost on opening day to Villa but won the title in the end

WEDNESday, march 19, 2014

Brazil : Nigeria, Cameroon are Africa’s Hope –Song

Emenike

Emmanuel Tobi

ormer Cameroon skipper, Rigobert Song, has tipped Nigeria and Cameroon to give Africa a good representation at the 2014 FIFA World Cup in Brazil. Song, a veteran of four FIFA World Cups (1994, 1998, 2002 and 2010) expressed optimism in the ability of the Super Eagles and the Indomitable Lions of Cameroon but cautioned that the two countries must avoid internal crises which he described as the bane of African teams at the World Cup. Speaking in an exclusive interview with New Telegraph, the ex-international who is currently the Team Manager of the Cameroonian national team maintained that both countries can qualify from their respective

Song

CONTINUED ON PAGE 53

Indoor flop, wake up call for Glasgow, Rio -Wilson

Brazil: Enyeama, Mikel plead for Uche,Osaze

Keshi: Nigeria ready For Argentina, Messi

}p-52

}p-53

Eto’o

Sanctity of Truth

Best football in Brazil: Enyeama, Mikel Germany-Gullit plead for Uche, Osaze

Charles Ogundiya

ormer Chelsea coach, Ruud Gullit, has stated that Germany is the home of best football while describing the UEFA Champions League as the Holy Grail of International football in the world. While responding to questions recently during the UEFA Champions League Trophy Tour in Lagos, Gullit said; “If you want to succeed, you have to play in Europe, the best football is in Europe at the moment, the best players around the world want to go to Europe and play club football there. Of course every continent has their own championships, Asia, South America, Africa, but if you want to be the best you have to play in Europe.” He also attributed the decline of English clubs in UEFA Champions League to a change of guard in

European football, noting there was a time when Italian clubs were also on the ascendance in Europe. “For like four years the English teams were dominating, now it is the turn of the Germans. The English teams are still strong, they had four teams in the last 16; Dutch clubs are not represented at all. The Champions League could be boring if the same teams keep winning it. You have the Spanish teams, PSG too are knocking on the door, Real Madrid are staging a comeback; to me that is good for football and the Champions League,” Gullit said.

Gullit

Ajibade Olusesan

enior players in the Super Eagles have interceded in the feud between Coach Stephen Keshi and striker Ikechukwu Uche, New Telegraph can authoritatively reveal. The coach declared that the Villarreal striker was not in his plans for the FIFA World Cup in Brazil. The coach accused the player of tactical indiscipline and said the forward would not be given a chance in the build-up for the tournament. The declaration by the coach has attracted mixed reactions as those who are calling for the return of the striker hinge their position on the imperious form the former Getafe striker is currently enjoying. The player remains arguably Nigeria’s best striker in Europe at the moment as he has racked up 12 goals in the La Liga. And according to a source in the Nigeria Football Federation, some senior players believe such a player who played a huge part in the country’s run in the qualifiers should be given an opportunity to at least prove himself. “ Many of Super Eagles players believe Keshi is taking the matter too far,” the source said. Our source informed that vice-captain,

Indoor flop,wake up call for Glasgow,Rio -Wilson Chimaobi Uchendu

Mikel

Vincent Enyeama, and Mikel Obi have both spoken to the coach but have not been able to prevail on him as he ramins adamant. “I am aware that Enyeama and Mikel have pleaded with the coach to allow both Ike Uche and Osaze Odemwingie return to the squad

Gloria Asumnu (left) one of the Athletes to the World Indoors

encourage them during on and off seasons and we got results but today there are lamentations over money while there are sponsors out there waiting for the administrators to approach

them for endorsements. “Government cannot do it all for sports. Those that find themselves in the corridor of sports should use the goodwill at their disposal to get things right.”

but Keshi says no,” he said. The source that is also a member of the Technical Committee of NFF added that “We agreed that Keshi is the one in charge but World Cup is something we cannot toy with and so we are concerned about the situation.”

Heineken winners relish Allianz Arena spectacle I

former President of Athletic Federation of Nigeria, Oluyomi Wilson, has described Nigeria’s flop at the last IAAF indoor championship as a glimpse of what to expect from athletes at the Commonwealth Games and the Olympics in Rio. Wilson said Nigeria had not learnt from past mistakes and as such it would continue to reap whatever it sows. He said; “You cannot sow whirlwind and expect to reap opposite of it, Nigeria neglects her athletes during off seasons, only to court them when competitions are around the corner, and it never works that way. “What we witnessed at the last IAAF indoors is a tip of what to expect from our athletes at the Commonwealth Games and the Olympics. This is a wake-up call if we are really serious.” He stressed that as professionals the athletes would need to cater for personal needs as well as their dependants. “These athletes are bread winners of their families and some are still studying, what we did in our time on board was to

Wednesday, March 19, 2014

t was indeed a dream come true for all the five winners of the Heineken ‘Match Your Half Ticket’ promotion as they were counted among the 69, 901 fans at the Allanz Arena, Munich, Germany for the Bayern Munich and FC Arsenal’s UEFA Champions League second round match played last week. All the five lucky consumers had enjoyed full expense paid trip to watch the match, courtesy of the International premium lager beer, Heineken. They all chorused last week on their return back to the country that the memorable trip would for a long time linger in their minds. “I am delighted to be part of this historic visit to one of the

best football stadiums in the world but more importantly, I watched live Arsenal FC my darling team at a major football tournament courtesy of Heineken,” Ejike Emmanuel recalled. Olawale Ajadi, a staunch FC Barcelona fan, said, “This allexpense paid trip courtesy of Heineken has really opened my world. I found myself in this massive crowd and everything was in order, no stampede or molestation from opposing football fans. Outside the stadium, fans of Bayern Munich and Arsenal were united by football and i was glad with the way they were taking pictures and I saw fans of different nationality united by the beautiful game of football.”

Okpekpe road race: Oshiomhole begins training

head of the second edition of the Okpekpe international 10km road race slated for May 3rd, 2014, comrade Adams Oshiomhole has resumed training. The governor who resumed training around the hilly Iyamoh/Ayua community is

been grilled by an ex international athlete, Yusuf Ali who doubles as the technical director of the Okpekpe road race. Oshiomhole was put through a 3km road walk before he traveled few days ago and he had since resumed training three days ago.

A close source to the governor, said, the governor has resumed full 10 kilometres training and he is ready to pick one of the star prizes this year. “Last year, which was the first edition, the governor finished in 131 position. This year, he is well prepared and ready

to be among the first ten positions.” Similarly, over six communities including Auchi are eagerly waiting for the second edition of the 10km road race which they said has brought life and economic activities to their communities.

SPORT 53

Sanctity of Truth

Wednesday, March 19, 2014

Brazil : Nigeria, Cameroon Africa’s Hope –Song C O N T I N U E D F R O M PA G E 5 1

groups unlike Ghana, Cote D’ Ivore and Algeria who are in difficult groups. “Nigeria and Cameroon will do Africa proud at the World Cup in Brazil because both countries have the experience of playing in more than three World Cup competitions and they will draw from that wealth of experience,” begins the former Liverpool defender. “Super Eagles and the Indomitable Lions are fortunate to be in a group they can easily qualify from if they put their acts together. “We all knew what it caused Cameroonian football when the players, coaches and officials were not united. Nigeria, Cameroon and other African countries

must avoid internal crisis so that they can give Africa a good representation at the World Cup in Brazil.” Song however warned against underrating any opponent at the tournament stressing that every match should be taken as a World Cup final. He said, “A good start will determine how far each African country can go in Brazil but they must play all their matches with seriousness and avoid complacency. “Nigeria can get good results against Bosnia and Iran to qualify from the group before the game against Argentina. Also, Cameroon can secure a good result against Mexico and Croatia and expect any result from host Brazil.”

Messi

Keshi: Nigeria ready For Argentina, Messi

Zenith Bank boosts b’ball league with N90m C O N T I N U E D F R O M PA G E 5 1

million naira increase from last that of last year. N30m will be used for the 2014/2015 season, while another N30m will go into the sponsorship of the 2015/2016 season. “The league has developed tremendously these past 10 years and has become a very attractive platform,” said Okeke. “No doubt, the sponsorship has brought a lot of mileage and value for Zenith Bank and there is a potential for building more value as the league continues to grow.” NBBF president, Umar, expressed gratitude

Sport Trending

TWITTER |@NTelegraphSport

Didier Drogba Une histoire d’amour, a love story. I never thought this would happen one day but it’s time for Chelsea FC to face the player they created. lGala striker, Didier Drogba, prior to last night’s Champions League match against Chelsea.@didierdrogba jonathan akpoborie Liverpool? EPL title? Very possible with Suarez around. @akpoborie Joseph Barton Might as well give @luis16suarez his Player of the Year awards now and be done with it. He should win everything. Been phenomenal this year. @Joey7Barton Ruud Gullit Game of football in Lagos On a bridge in the middle of rush hour. lDutch football legend, Ruud Gullit, after posting a video of kids playing a game of football on a bridge in Lagos. @GullitR Robin van Persie Training today looking forward to tomorrow! lManchester United striker, Robin van Persie, ahead of today’s Champions League clash against Olympiakos. @Persie_Official Micah Richards Think Laurent Koscielny has been centre back of the season this year! lManchester City defender, Micah Richards, gives his verdict on who he thinks is the best central defender in the EPL. @MicahRichards Aaron Ramsey Delighted to sign a new contract at @Arsenal. Really believe that this team can achieve great things and win trophies. @aaronramsey Mike Tyson Heart attacks claim 2K lives every year. Don’t let a #heartattack knock you out! @MikeTyson Abi Olajuwon When you can’t fall back asleep because of an earthquake. Workout!! @AbiOlajuwon

to Zenith Bank for footing the bill for the next three seasons. First Deep Water are the reigning league champions.

Lagos Stadium: NSC inaugurates concession committee

he Minister of Sports and Chairman of the National Sports Commission, Dr. Tammy Danagogo on Tuesday inaugurated the Project Steering Committee and the Project Delivery Team for the concession of the National stadium, Lagos and the Athletes hostel, Abuja. Inaugurating the Committee, the minister charged members to ensure transparency in the discharge of their duty saying that they should reciprocate the confidence reposed on them. Director General of the Commission, Gbenga Elegbeleye, revealed that the decision to concession the National Stadium, was predicated on the difficulty which aroused from maintaining the stadium after the introduction of the Envelop Budgeting which pegged the Capital expenditure of the Commission to an average of one billion naira per annum for all the six stadia and other Sports facilities.

Keshi

igeria head

coach Stephen Keshi insists he is not worried about facing Argentina at the 2014 Fifa World Cup finals in Brazil. Nigeria’s Super Eagles will face the Albiceleste on June 25 at the Estádio Beira-Rio, Porto Alegre in a Group F game. Argentina will expectedly be relying on the brilliance of FC Barcelona’s superstar, Lionel Messi to strike a dagger into Nigerian hearts but Keshi is relishing the prospect of stopping the little magician in his tracks. “Messi is probably the best footballer in the world but we cannot lose sleep about him because there will be 10 others on the pitch that day,” Keshi told supersport.com. Nigeria will be meeting Argentina for the fourth time in the World Cup group stages following earlier encoun-

ters i n 1994, 2002 and 2010. The Super Eagles lost all three previous encounters against the South Americans and Keshi is keen to end the trend. “I didn’t feel bad about the fact that we will play against Argentina in the group stages because even if we didn’t draw them, we would have met teams like, Spain, Germany, Brazil or England. “We have been drawn against Argentina. There’s nothing we can do about that. We just have to get ourselves ready,” he said. Nigeria will open its World Cup campaign against Iran at the Arena da Baixada, Curitiba on June 16. Five days later, the African champions will take on Bosnia-Herzegovina in their second game at the Arena Pantanal, Cuiabá befre rounding off their preliminary campain against the twotime World champions, Argentina.

FIFA rankings not important – Adepoju Vincent Eboigbe

utiu Adepoju says the FIFA rankings should be seen as ‘mere statistics’ that doesn’t reflect the true strength of any team and as such should not be elevated to the status of a definitive measurement barometer. In the latest rankings released last week by FIFA, the Super Eagles occupy the 47th position same as they did last month, while moving to seventh

place in Africa up from the eight spot in the last edition. Adepoju while reacting to the rankings and to Nigerians’ incredulity that the Eagles can rank lower than a team like Cape Verde, advises against taking the monthly exercise seriously. “I’m not bothered about Nigeria’s position in FIFA rankings in any way. We should just learn to ignore it. The truth is you may win two matches today and you are up, you lose one match tomorrow and you are down,”

says Adepoju. “Rankings as far as I’m concerned are not important; they are mere statistics. What should be important to us is the form the Super Eagles take to the World Cup.” Adepoju who featured in three World Cup finals for the Super Eagles, namely 1994, 1998 and 2002, also tells New Telegraph in Lagos on Sunday, that the Mundial is a competition for the very best and as such Nigeria need to take their best players to Brazil.

54 SPORT | INTERNATIONAL FOOTBALL

Sanctity of Truth

Wednesday, March 19, 2014

Expect tough match, Jones warns Olympiacos

anchester United defender Phil Jones warned Olympiacos that it is not in Manchester United’s nature to give up ahead of the second leg of their Champions League last16 tie. The Red Devils, who are currently seventh in the Premier League, trail the Greek champions 2-0 on aggregate after a surprise loss in Athens almost three weeks ago. United currently boast a 100 per cent record at Old Trafford in Europe this season after wins against Real Sociedad, Bayer Leverkusen and Shakhtar Donetsk. And Jones promised United would produce a performance to lift the Old Trafford crowd after

Jones

Briefs

Qatar2022:JackWarner Arsenal, Liverpool paid£1.2mforbidvote chase Brazil youngster

ormer FIFA vice-president Jack Warner has been accused of corruptly receiving vast sums of money in return for his influence in assisting Qatar’s successful 2022 World Cup bid according to the Daily Telegraph. Warner and his family are said to have received around £1.2m from a Qatari fir m linked to the country’s bid to host the 2022 World Cup finals. Warner’s sons are said to have received payments totaling £450k whilst a further £240k were paid to one of his employees.

rsenal and Liverpool could compete for the signing of Sao Paulo youngster Rodrigo Caio this summer, [football] direct news understands. The two clubs are both keen on the 20-year-old defender, who looks an outstanding prospect after a series of fine displays since breaking into the club’s first team in 2011. In one of his early appearances for Sao Paulo against Santos, Caio notably put in a strong performance against now-Barcelona striker Neymar, who has been widely regarded as one of the best young players in the world for some time.

Gerrard demands new Milanhasbeen destroyed–Maldini Rodgers deal

iverpool captain Steven Ger rard has urged the club’s owners to secure the services of manager Brendan Rodgers on a new longterm contract. “I am absolutely delighted he is here and I just hope that there is a lot of movement in Boston now, because they have got to get him signed up as soon as possible,” Gerrard said. “I’m sure the rest of the players would echo what I am saying.

i l a n legend Paolo Maldini is angered by the team’s c u r re n t plight and believes previous hard work has been “destroyed”. “Inside me there is a mixture of anger and disappointment, not so much for the results, because the club has previously been 10th or 11th, but because the impression is that they have thrown away what was built with hard work over the previous 10 years,” he said.

a humiliating 3-0 loss to bitter rivals Liverpool on Sunday. “We don’t give up, you know,” Jones told Uefa’s website. “Our mentality is to keep training hard, keep doing the right things and eventually it will turn. “We truly believe that, and that’s what will happen. We’ve got to be patient and stick at it but it will come. “We didn’t play as well as we’d like to have played [in Greece] but there’s no point dwelling on it now. “We’ve got to deal with what’s happened and look forward to the future, and the future is putting in a performance at Old Trafford that will lift the crowd, lift the players and turn it around.

Lewandowski: Dortmund must not underestimate Zenit

orussia Dortmund striker Robert Lewandowski has warned his teammates not to underestimate Zenit St Petersburg in the second leg of their Champions League round of 16 tie on Wednesday. The Bundesliga side recorded a 4-2 win in the first leg, but Lewandowski has stressed that BVB must do better than in this weekend’s Bundesliga defeat against Borussia Monchengladbach if they are to hold off Zenit in the return at the Signal Iduna Park. “We’re not in the quarter-finals yet, even after winning the first leg 4-2. We need to be on our toes and mustn’t underestimate Zenit,” the Poland international told Bundesliga.com. “I hope nothing happens that could jeopardise our passage into the next round, but the tie isn’t over

Monaco, Dortmund battle for €25m Lukaku

helsea’s Romelu Lukaku is being lined up for a summer exit from Stamford Bridge, after it emerged that his agent had been in contact with both Monaco and Borussia Dortmund over a potential move. According to French newspaper Le 10 Sport, citing sources in the Italian media, Lukaku’s agent, Mino Raiola, has been in contact with the two European outfits over a possible transfer at the end of this season. Reports claim that €25million would be enough to convince the Blues to part ways with the Belgian forward,

UEFA Champions League Fixtures Man Utd vs Olympiacos Dortmund vs Zenit Lewandowski

and we can’t afford to play like we did against Gladbach. “We will do everything to win the return leg in front of our own fans on Wednesday. We don’t want to lose in Dortmund again.” Lewandowski has netted six goals in seven Champions League appearances so far this term.

8:45 pm 8:45 pm

Villas-Boas named Zenit

ndre Villas-Boas has been named the new coach of Zenit Saint Petersburg and will return to management after nightmarish spells with Chelsea and Tottenham Hotspur in the English Premier League. The Portuguese boss’ two-year contract was confirmed on Zenit’s club website: Zenit has agreed terms on a contract with new head coach Andre Villas-Boas. The contract will be signed and Mr. Villas-Boas will be presented in St. Petersburg as Zenit’s new head coach on March 20. Mr. Villas-Boas’ contract

Brazil legends Ronaldo, Romario in World Cup spat

Ronaldo

razilian legends Ronaldo and Romario on Monday indulged in a World Cup war of words as the former accused his compatriot of blaming him for a promise of free tickets for handicapped fans which has not materialized. “It is deplorable to see Romario, once again, make me publicly responsible for things which are outside my remit,” World Cup Local Organisation Committee member Ronaldo wrote on his Facebook page.

Romario, 1994 world champion and now a lawmaker, himself took to social media in recent days to say that 2002 World Cup star and record tournament scorer Ronaldo “publicly promised free entrance for handicapped people”. “And so far, nothing.” One post shows the pair at a 2011 press conference during which Romario announced a promise on behalf of the Brazilian football Confederation (CBF) offering 32,000 free tickets or 500 per match for disabled people.

SPORT 55

Sanctity of Truth

Wednesday, March 19, 2014

Nigerian League Rendezvous with charles Ogundiya

Everton striker, Romelu Lukaku being tackled by a Manchester City player

Dearth of goal scorers hits League

T who was sent out on loan again this year after an impressive season with West Brom last campaign. At Everton Lukaku has continued to attract plaudits from the critics, and many see him as having the potential to become a Didier Drogba-esque type player in the future. However Jose Mourinho is said to be looking abroad for options to bolster his attack, which may imply that he does not see the 20-year-old as an ideal candidate in the long-run. Speculation arose on Monday suggesting that Chelsea would be open to the idea of offloading Lukaku, so long as it was to an overseas club and not another team in the Premier League.

manager

he Nigeria Premier League new season started two weeks ago after five months break with some impressive results, but the goals are hard to come by, with Kaduna United 3-1 victory over Taraba FC the biggest result so far in the new season. For some seasons now, the strikers are finding it difficult to find the back of the net,

begins in March, 2014, and is valid for two seasons (2014/2015, 2015/2016). Zenit are the sixth team AVB has managed, remarkable considering he is just 36 years old, and will allow the improving tactician a different challenge away from the Premier League. The Gazprom-owned club are currently second in the Russian top flight, lingering three points behind Lokomotiv Moscow. Villas-Boas will be expected to ensure his team capture the domestic title and qualify for next season’s Champions League, an extremely important feat considering Zenit are likely to be out of this year’s European competition by the time their new coach is introduced.

08098042287

Sunshine goalkeeper Ekenna Ezenwa stopping Enyimba striker Abdulraham Basir from scoring.

with the highest goal scorers failing to break the 20-goal record set by Kaduna United’s Jude Aneke in 2011. Before Aneke’s record, Ahmed Musa scored 18 goals for Kano Pillars in 2010 to send to consign to the history books

Ishaya Jatau of then Iwuanyawu Nationale (now Heartland) 17 goals scored in 1990, a record which stood for 20 years. Last season, Victor Namo recorded 18 goals to top the scorer’s chart, with several strikers failing to reach double

ThankGod and his customised boot

arri Wolves defender, Ike ThankGod is one of the few scoring defenders in the league, right from his days in Heartland of Owerri before joining Warri Wolves, where he has been one of the best performers for the Seasiders.

LMC has no power to deregister my team - Giwa Villas-Boas

charlesog2001@yahoo.com, charles.ogundiya@newtelegraphonline.com

Jude Opara Abuja

hairman of Giwa FC of Jos, Chris Giwa, says the League Management Company erred in delisting his team from the ongoing 2013/14 Nigeria Premier League. Speaking in an exclusive interview with New Telegraph from his base in Jos, Giwa said his team was still going to be part of the league adding that the only way his team can be shown the exit door was through relegation. According to him, Giwa FC fulfilled all the requirements for registration for the new season except for the fixed minimum wage of N150,000 which he argued he made it clear from day one

Recently, ThankGod added another dimension to his game, becoming the first Nigerian to wear a customised boot for the new season. Showing off his boot to New Telegraph with his name ‘IKEGOD’ and his team number ‘2’, the defender said he has two of the customised boot and hope to get more as the season progresses. “The boot was produced for me from Vietnam. I have two of them and hope to take delivery of more before mid-season,” he said. It remains to be seen if the boot can translate into goals and trophy for him and his club Warri Wolves this season. that his team can only afford N70,000 Nduka Irabor naira. The LMC has no right to do what t h e y did because all over the world the managers of the league do not fix wages for clubs and their players. It is the sole business of both the clubs and their players. In the English Premier League what Manchester United pays its players is never what Chelsea will play, if both the employer and his employees agree on any wage it is entirely their business,” he said.

figures for their clubs. At the beginning of the current season, a journalist, China Acheru, challenged strikers in the league to not only break the existing league top scorer record of 20 goals but to strive to score 30 league goals in the 2013/14 season, with

a promise of $1,000 (one thousand dollars) or $500 for any striker that can score 25 goals. The question is are there no good strikers in the league any more or are the defenders now too strong? Speaking with New Telegraph, a coach with one of the western teams who crave anonymity said; “We don’t have strikers in Nigeria league any more. What do our top strikers achieve whenever they move out of the country? I heard Jude Aneke is back in the country after failing to make the grade in Turkey. The truth is Nigeria players are lazy, they are not ready to improve on themselves and that is rubbing off on the league as a whole.” Some of the strikers however, have started setting targets for themselves as the new season progresses.

Early days for bad officiating

espite promises of fair officiating at the inception of the new season, clubs have already started complaining of bad officiating in the new season. During the pre-season seminar for referees and officials in Abuja, there were promises by the men in black that they would carry out their duty without favour or prejudice in the new season, allowing the best team to win matches at home or away. In the first game of the new season, Sharks FC of Port Harcourt accused centre referee Olajide Olayinka from Lagos State of poor officiating in their 1-0 loss against Bayelsa United. The Technical manager of Sharks, Gbenga Ogunbote, while hailing the performance of referee Henry Oguntamodi for doing what he described as a great job, said they would have got a result in Sapele if they had such high level of officiating in their week one game against Bayelsa. Ogunbote said; “I want to challenge the

media to get the DVD of our match against Bayelsa United in Sapele and show it to the world and do same with our match against Lobi Stars then you will understand what I am talking about.” In Aba, Enugu Rangers coach, John Obuh, also blamed referee Amoo Opeyemi for his team’s 2-1 loss to Enyimba in an ‘Oriental derby’. “We lost the game to the antics of the referee and his assistants; my players allowed the referee’s action to get to them and they lost concentration which resulted in the two goals,” Obuh said. While some league followers believe the referees should be blamed for their actions, some were of the opinion that teams cry foul only when things are not going their way.

World Record

On Marble A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.

– John C. Maxwell

Sanctity of Truth w w w. new tel eg rap ho nl i ne. co m

Three things cannot be long hidden: the sun, the moon and the truth – Buddha WEDNESday, MARCH 19, 2014

N150

The longest anamorphic painting measures 106.3 m (348 ft 9 in) and was created by Joe Hill of 3D Joe and Max (both UK) and unveiled at West India Quay, London, UK.

Awka: Peter Obi’s Achilles heel

n 2001, Mr. Peter Obi, then largely obscure, a green horn in Nigerian political landscape had appeared in Anambra State with probing philosophical billboards “is Anambra state cursed or are we the cause.” Most politicians did not take him serious and others dismissed him as a lone ranger, out to try his luck in the murky waters of Anambra politics. Behind the scene, in a quiet and uncanny manner, Peter Obi walked through the length and breadth of the state enlisting the support of religious institutions, particularly the Catholic Church and the Anglican Communion. His demeanour, infectious simplicity, un-ceremoniousness, self-effacing and down to earth nature, were refreshing departure from the “Tigbuo Zogbuo” (Kill and Destroy) politics that the state has witnessed since 1999. Even without a strong political platform then, Obi won convincingly the 2003 Anambra gubernatorial election, as the courts later confirmed in 2006, culminating in his swearing in, on March 16, 2006. Months before the election, a group of influential young political Turks had met Mr. Obi in Mr. Emeka Nwandu’s residence in Enugu to negotiate how they will assist him in ensuring his victory at the polls. They had told Peter Obi that the Mbadinuju Administration was willing to back him for the coveted position, since the then Obasanjo Presidency had declared Dr. Mbadinuju persona non grata, and rejected Mbadinuju’s effort to run for a second term under People’s Democratic Party, even after winning the primaries for a record third time. The group proposed that the Mbadinuju group be allowed to nominate Peter Obi’s deputy gubernatorial candidate. Mr. Obi’s response was unexpected, shocking and equally poignant. He said “rather than sacrifice my deputy, a lady I have given my word to and to those who nominated her, I would rather step aside as the candidate. I do not have to be Governor”. This ended the negotiation. It is an elementary maxim in political science that power corrupts and absolute power corrupts absolutely. While this holds true for majority of politicians all over the world, more so in developing societies, where governance institutions are not well entrenched, but for Obi, this may not be appropriate as his eight year tenure has shown. He remained true to himself, character and had the courage of his convictions. A man of natural frugality, who had rebuked some peers in his undergraduate days at the university of Nigeria, Nsukka in the early 1980s for demanding extra meat in “Two Sisters

IvoryGlory Nkemdili Nnonyelu

Restaurant”. His single mindedness of purpose, his sense of mission, perhaps not of vision, set him apart from other politicians. His belief in the rule of law, and confidence in the judiciary led him through a titanic painstaking struggle first, to reclaim his victory at the polls, second, to reverse his impeachment, and third, defend his tenure. He bore the pains stoically and with a deep sense of equanimity. Obi’s rule banished the era and reign of God fathers, who held Mbadinuju on the jugular, and even had the effrontery, audacity to kidnap a sitting Governor, Mr. Chris Ngige, sent thugs to attack innocent citizens and burnt down public institutions while the police watched with glee, arms akimbo. That was Anambra of the past. Through Obi’s Anambra Integrated Development Strategy, he sought to bring development to all the sectors simultaneously. Nigerian newspapers, particularly its cover pages are awash with pictures of Peter Obi donating money, vehicles and other equipments to public and private institutions in Anambra state, especially in the build up to the gubernatorial elections in the state on Nov. 16, 2013, and thereafter. A master stroke, or joker, if you like, Obi waited until the elections closed in, and he opened the state vault, in a state bazaar fashion, sending his opponents

Fellow Anambrarians, your clamour for a capital city that fully reflects the essence of our people will be addressed by my administration. We shall re-design and remodel Awka to meet the structural and aesthetic requirements of a 21st century city that we can all be proud of. (Willie Obiano, 2014)

scampering for safety. What I find incomprehensible, if not unreasonable, is the last ditch effort being made to recruit youths one month to the end of Obi’s tenure and the flaging off of several projects two days to Obi’s departure as if manna just came from heaven. Perhaps, it is all politics. Generally, some commentators in Anambra state have credited a stellar performance to Obi, but I disagree on one count. In their analysis and presentations, they have failed to comment on the state of Awka capital city and its woeful neglect by Peter Obi’s administration. In Awka, Peter Obi like his predecessors failed woefully. A capital city should be the epicentre of development. State development should move from the centre to the periphery. A visit to Awka, nay Anambra state, would confirm that much of what is heard about Anambra state, is more mythical than real. There is no theory in development planning that supports the neglect of a capital city, while purportedly concentrating in other areas. Awka remains, several years after the creation of Anambra state in 1991, the worst capital city in sub Saharan Africa. The government house is still on the old make shift structure owned by Lodijiani Construction Company while the Governor’s lodge is still the former High Court Judge’s quarters in Awka before state creation. Earth roads abound, there is no public portable pipe borne water. The water stopped running some 13 years ago in Awka, the state capital. Since the state creation, the business of government has been the acquisition of communal lands, not for overriding public interests, but for personal gains. Awka, the city of blacksmiths, a land once known for the technological ingenuity of its people, lies desolate, raped and plundered by successive ruling regimes. The ululation of residents and indigenes of Awka is strong and palpable. It is sheer grand standing, puerile for a state Governor to claim that he left 75 billion naira in the treasury, when all public schools in the capital city are like poultry houses, when the state capital is sleeping, even when the only public library in the state capital, built by Obi himself is without textbooks or other materials critical to effective learning. Even the Amaku

General Hospital Awka converted, thanks to Obi’s administration to a teaching hospital lacks some of the most distinguishing diagnostic and surgical equipments. There are no sporting facilities, no traffic or street lights. The situation is that bad. Awka has become decrepit and requires urgent attention. Intheaftermathof ChrisNgige’souster,and early in the life of Peter Obi’s rule, in fact duringtheEgwuzufestivalbyHisRoyalHighness, Obi Dr. Gibson Nwosu, some Awka folks had privately reminded Obi about the urgent need togiveAwkaafacelift,makeitarealcapitalcity, not in name only. His Excellency Mr. Peter Obi had replied to the chagrin and utter disbelief of thesepeoplethathewasnotwillingtospend that money on Awka. He queried how much Awka was contributing to the state internally generated revenue. This is like standing logic on its head. If Mr Obi’s argument holds, one would want to know how much of Nigeria’s national revenue comes from Abuja, and why is the nation spending hundreds of billions of naira, making Abuja the admirable city, that it is. Ditto for other capitals, from Uyo, that Akpabio has changed overnight through Abakaliki, the hitherto sleepy rice town now turned into a visitors’ delight, to Ado Ekiti, Dutse and other new state capitals, the story is the same. Awka is the only capital city in Nigeria that reeks of abandonment and neglect. While Obi may be said to have shone like a thousand stars in other areas, the state of Awka is heartrending and agonizing. The way Awka is today, leaves one with the question, is Awka part of Peter Obi’s beautiful legacy? No, of course, it is a sore commentary on Peter Obi’s performance.

OmoBaba

CAPTURED BOKO HARAM MEMBERS BEG FOR MERCY - News

- Ah, mercy died a long time ago!

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