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Monday, June 30, 2014 Vol. 1 No. 132

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Brazil 2014: 250 supporters return, vow to sue NFSC Dan Atori Brazil

ver 250 members of the Nigeria Football Supporters Club (NFSC) will miss the match between Nigeria and France

in Brasilia today having left for Nigeria yesterday. Only 100 members of the club left Sao Paulo to Brasilia yesterday. The distance is about 16 hours by road. Their exit from watch-

ing the World Cup was as a result of paucity of funds. Members of the Supporters Club have threatened to drag NFSC leadership to court for mismanagement of fund accrued to the body for the

tournament. The return ticket of most supporters were slated for June 29 while others will depart on July 1. They lamented that the leadership of NFSC did not notify them of their depar-

ture until Saturday when their flight was billed for 12:40a.m. on Sunday. While lamenting the poor arrangement by the leadership of the club, a member who gave her name as Uju said: “We

have enough funds, most of us paid N300,000. I paid N300,000 as money charged, I spent N80,000 as visa fee but I was left in Nigeria. I had to spend another N350,000 on my CONTINUED ON PAGE 2

45 killed in attacks on villages near Chibok

lGunmen slay 13 herdsmen in Taraba Ahmed Mari Maiduguri

t least 45 persons were killed yesterday when gunmen suspected to be members of the outlawed Boko Haram sect attacked churches in two villages near Chibok, Borno State. About 30 of the dead were among worshippers from four churches attacked in Kwada while no fewer than 15 persons were said to have been killed in Kautikiri. Another attack by gunmen in Taraba State claimed the lives of 13 FuCONTINUED ON PAGE 2

2015: 500 politicians to watch

Atiku, Nyako, Haruna, Tukur battle for the soul of } 13-18 Adamawa Lagos

Storm

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L-R: Managing Director, Andalusian Mining Limited, Perth Western Australia, Wayne Miller; Project Manager, Colin Miller and Osun State Governor, Rauf Aregbesola, after the signing of Memorandum of Understanding (MoU) with the firm for gold mining in Ilesa, in Osogbo…at the weekend

Impeachment: Ministers, PDP mobilise against Nyako, Ngilari Ibrahim Abdul Yola

he Peoples Democratic Party (PDP) at the weekend mobilised against Governor Murtala Nyako and his

deputy, Mr. Bala Ngilari, urging the Adamawa State House of Assembly to speed up the removal process against the duo.

PDP stakeholders, including serving ministers, stormed Yola, the state capital, at the weekend and mounted pres-

sure on the lawmakers to expedite action on the removal. The Assembly had served Nyako and Ngilari

notice of impeachment where they detailed acts of gross misconduct. The PDP stakeholders CONTINUED ON PAGE 4

Boko Haram attacks Abuja to intimidate FG, says Okupe }4

NEWS

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Monday, June 30, 2014

Gunmen slay 13 herdsmen in Taraba CONTINUED FROM PAGE 1

lani herdsmen who were returning from village markets in Garba-Chede and Maihula. In the Borno attacks, the gunmen were said to have burnt the four churches during a raid on Kwada, less than 10 kilometres from Chibok where about 270 schoolchildren were abducted in April. A report by the Associated Press (AP) said some 30 bodies had been recovered and more were turning up in the bushes, where people tried to escape from Kwada village. “They killed dozens of people and burned houses after attacking worshippers,” a survivor, Mallam Yahi, told AP. Some of the church buildings destroyed included the Protestant Church of Christ in Nigeria, the Deeper Life Bible Church and Ekklesiyar Yan’uwa, which is Hausa for Church of the Brethren in Nigeria, Yahi said. The last was started by American missionaries from Illinois in the 1920s. Yahi said the attackers went on to neighbouring Kautikari, where they gunned down villagers and burned down homes. Another report by Reuters said the gunmen simultaneously attacked the two villages of Kwada and Kautikiri. A survivor of the at-

tack on Kautikiri village, which is about five kilometres from Chibok, Samuel Chibok, said about 20 men in a Toyota pick-up truck and motorcycles invaded the village and sprayed it with bullets, focusing much of their fire power on panicked worshippers in a local church. “Initially I thought they were military but when I came out, they were firing at people. I saw people fleeing and they burned our houses,” he said, adding that some people had died in the attack, including two of his relatives. “Smoke was billowing from our town as I left.” A local pro-government vigilante, who declined to be named, said residents had now recovered 15 bodies from the village. Angry Chibok residents said soldiers were slow to respond to news of the attack, and the vigilantes

said once they reached Kwada, the soldiers refused to confront the extremists directly, only shooting at them from a distance outside the village. They spoke on condition of anonymity for fear of reprisals from the military. A police officer, who lives in Chibok, confirmed that his brother was killed in the attack. The officer, who craved anonymity, said he received a telephone call while he was in church, informing him that his younger brother had been killed in Kwada. One of the houses destroyed in Kautikari belonged to a special assistant to the Borno State Governor, Baba John. Suspected Boko Haram militants, according to an online news portal, Premium Times, were said to have delivered a letter to Kautikari threatening at-

tacks soon. It is not clear whether the group made any demand as they are known to do with such threats. Borno State police spokesperson, Gideon Jubrin, an Assistant Superintendent of Police (ASP), said he had been informed of the attack, but declined to give details. Jubrin said he was yet to contact the district police officer in charge of Chibok. “My attention was brought to the incident by a reporter and we have been battling to connect with our divisional headquarters in Chibok for details, but it seems all the communication networks are down or something,” he said. But the police while giving detail of the attack that claimed the lives of 13 Fulani herdsmen in Taraba State, said the herdsmen

were killed by an unidentified group of armed youths on a bush path in the outskirts of Maihula in Bali Local Government Area of the state. The state Police Public Relations Officer (PPRO), Taraba State command, Joseph Kwaji, an Assistant Superintendent of Police (ASP), however, told reporters yesterday in Jalingo that no arrest had been made but the police had beefed up security in the area to track down the perpetrators. The Chairman of Bali Local Government Area, Mr. Andrew Yerima, said the herdsmen were trailed by the armed men from Garba-Chede market where they were believed to have gone to sell their cows. Yerima called for calm and advised residents of the area not to take the law into their hands.

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

TODAY’S WEATHER FORECAST ABUJA

FLIGHT SCHEDULE

L-R: Managing Director/CEO Financial Derivatives Company Limited, Mr. Bismark Rewane; Group Head, Retail Product, Sterling Bank Plc, Mr. Gbenga Adegoke and Group Head, Strategy and Communications, Mr. Shina Atilola, at the Businessday Annual Banking Awards in Lagos

Brazil 2014: 250 supporters return, vow to sue NFSC CONTINUED FROM PAGE 1

way to get to Brazil. Yet millions of naira were donated and given to us by President Goodluck Jonathan, our major sponsors, Globacom, Guinness and even Dangote. “What happened to all the money we have? What happened to the funds raised before the World Cup? Although, Brazil is expensive but the club budgeted and had made all the necessary arrangements. They will explain to us when we get to Nigeria.” Another member of the club simply identified as Mr. Obas said: “I paid N300,000 but since I got here (Brazil), I have been feeding myself. All the road trips to Curitiba, Cuiaba, Porto Alegre and back to Sao Paolo, I have

been spending money from my own pocket. Where then are the monies donated to us? “How could the leaders arrange that we are leaving after the group stage? Were they pessimistic about the Super Eagles’ performance? Did they anticipate that Nigeria will leave the competition after the group stage? How can they make flight arrangement and say we are returning on June 29 and July 1st when Nigeria is still in the competition?” Another member, Ms Titilayo, said: “Even though they had made such arrangements, now that the Super Eagles are in the round of 16, the leaders are supposed to reschedule our flights by extending it. That is what we usually do in other

competitions. They must explain to us what they did with all the monies we paid and the funds donated to us. “I can tell you that there is foul play among the executive. When we get home, the PresidentGeneral and the national chairman must explain to us what they did with our money. They are not feeding us, it is only cheap accommodation and transportation to the stadium that they have used money for. So, what happened to the remaining money?” A member from the Lagos chapter of the Club, who craved anonymity, lamented that the recent development was as a result of internal crisis in the Supporters’ Club. He said a faction is hoarding donated funds given to

members by some multinational organisations. Justifying the decision to send the supporters home, President General of the Club, Dr. Rafiu Ladipo, lamented the level at which the prices of goods and services have sky-rocketed in Brazil. Ladipo said: “Some members have to go for some of us to stay to support the Super Eagles. “Everybody cannot go to Brasilia. The cost of transportation here in Brazil is too much. Some members had their return flight schedule for June 29, others July 1st. We would have extended their return but we are spending more than we have and we may get stranded in Brazil. We have rescheduled the flight tickets of some members,” he added.

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

Sanctity of Truth

Monday, June 30, 2014

Sanctity of Truth

Monday, June 30, 2014

FIRS, NERC give deadline to power firms to remit VAT Abdulwahab Isa ABUJA

he Federal Inland Revenue Service (FIRS) and the National Electricity Regulatory Commission (NERC) have set today as deadline for power firms to remit outstanding Value Added Taxes (VAT) deducted to the FIRS. Today’s deadline is re-

gardless of ongoing discussion and collaboration on prompt remittance of taxes by power sector operators in the wake of the take-off of the Nigerian Electricity Supply Industry (NESI), a statement issued at the weekend by Wahab Gbadamosi, FIRS Head of corporate communications said. Today’s deadline for VAT remittance, accord-

ing to the statement, was adopted at a joint workshop for stakeholders in the power sector during the week, where both institutions agreed that while discussions were ongoing between stakeholders, outstanding VAT deducted be remitted to the FIRS on or before June 30. Part of the ongoing discussions are that capital items would be defined ac-

cording to the standards of the International Financial Reporting Standards (IFRS). Also gas purchases would need to be treated under some special dispensation such as input VAT suffered by GENCos (Generating Companies) would be considered under this dispensation. Earlier, Coordinating Minister for the Economy

Senior Special Assistant to President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, signing the condolence register, during his visit to the office of New Telegraph, Abuja on the death of the newspaper’s Managing Editor (North), Suleiman Bisalla…yesterday.

PHOTO: TIMOTHY IKUOMENISAN

Boko Haram attacks Abuja to intimidate FG, says Okupe lCondoles with New Telegraph over Editor’s death Emmanuel Anule ABUJA

he Special Assistant to President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, has revealed that the mission of the Boko Haram sect in Abuja was to intimidate the Federal Government and cause confusion in the country. Okupe stated this yesterday when he paid a condolence visit to the management and staff of New Telegraph newspaper at the Abuja office over the death of its Managing Editor (North), Alhaji Suleiman Bisalla. Bisalla died in the bomb explosion which hit the busy Emab plaza in Wednesday last week alongside 21 others. Okupe said against the thinking of the terrorists and their sponsors who are still faceless, the country would not go under. “The activities of Boko Haram are generally incomprehensible; we do not understand what they stand for fully. What they want, who they really are, all we see is wanton violence against our people. No delineation of class, religion or ethnicity.

“By coming to Abuja is to intimidate government; it is not working, it is not going to work,” Okupe emphasised. He continued: “At first, we thought it was Muslims fighting Christians, then we thought some Christians have seized the franchise and are also fighting Muslims. Now, we see that Boko Haram is fighting everybody. It is fighting the soul of Nigeria. “The incessant nature of these bombings worries government, it is perplexing. But government is not resting on its oars and their activities is not going to dampen in any way the spirit and the commitment of government to protecting lives and properties of the citizens. “Insurgencies may come but as far back as 1770’s that is what my research have shown me; insurgencies have been in various countries in the world. Vietnam, Britain everywhere but insurgencies have never ever won. By the grace of God, we will not go through that length of time; we will stop it.” The presidential aide explained that terrorism was new to Nigeria which

is why, at first, government was not prepared with the needed technology. “It is true, government was unprepared for it; our security agencies were unprepared for it but we are now ready for it. We will stop it. Let them go into any hole, hide anywhere, we have enough resources, men and material, committed people to defeat insurgency,” he added. Okupe disclosed that a number of credible Nigerians were currently working on a plan to establish a non governmental organisation that would begin to look into the plight of many families left behind as a result of the death of their bread winners. While expressing the condolences of the President on the death of Bisalla, Okupe noted that it was unfortunate that he died when the organisation and the country needed him most. “Bisalla’s death and those of many others are quite painful. His death will be most painful to you because, being a new organisation, this is when you need all hands on deck especially a reputable, knowledgeable, very re-

sourceful journalist like Bisalla who has had well over two decades in the profession. I want to on behalf of Mr. President, myself and my office express our very heartfelt condolences to your media organisation, your management and staff. Through you, I also condole the Nigerian Guild of Editors and the family that he has left behind,” he said. In his remark, Deputy Editor, Mr. Louis Achi, who received Okupe and his delegation, on behalf of management thanked him for finding time to pay the condolence visit. He said the death of Bisalla was a great shock to the entire New Telegraph family. Achi noted that Nigeria should not be left to continue under such insurgency by Boko Haram. “A country cannot continue like this. Some people say hope, but hope is not a plan. I believe this administration has some specific strategy to confront what is happening to us and Nigerians. What is happening is a threat to the unity of the country and nobody prays that they succeed,” Achi noted.

and Minister of Finance, Dr. Ngozi Okonjo-Iweala told participants at the workshop that VAT, provided an instant opportunity to measure progress for the ongoing transformation in the power sector. Okonjo-Iweala, represented by the Permanent Secretary in the Ministry, Mrs. Anastasia DanielNwaobia, noted that the workshop will “ensure there is a synergy between the two sectors in a manner that enables FIRS plug into existing platforms in the industry with a view to building or deploying effective technology base system that will enhance tax compliance and overall transactional efficiency in the sector.” Also, the Acting Executive Chairman of FIRS, Kabir Mashi, remarked that the collaborative efforts was part of the service’s resolve to focus more on the need to grow non-oil revenue in order to meet the developmental needs of the country. Noting that the FIRS had earlier embarked on

a similar initiatives in the aviation industry, banking sector, government’s Ministries, Departments and Agencies (MDAs), states through the Joint Tax Board (JTB) and the local government, Mashi said there were ongoing arrangements with the Office of the Accountant General of the Federation (OAGF) through the GIFMIS platform and E-Tax Pay to source-deduct VAT from MDAs and remit to the appropriate account. Prof. Chidi Onyia, the Chief of Staff, to the Minister of Power, Prof. Chinedu Nebo, who represented the minister as well as the chairman of NERC, Mr. Patrick Umeh, gave assurance that the ministry was committed to ensuring transparency in the entire process. They also pledged to support the FIRS in ensuring payment of appropriate taxes in order to impart on the nation’s Internally Generated Revenue (IGR) to lessen government’s overdependence on oil revenue.

Impeachment: Ministers, PDP mobilise against Nyako, Ngilari CONTINUED FROM PAGE 1

held a special meeting at the party’s secretariat in Yola, where they spoke in unison that the impeachment of Nyako and his deputy “will usher in a new era of development that have been denied the state since the inception of the Nyako-led administration.” For instance, the Minister of Youth Development, Mr. Boni Haruna, who was the immediate past governor of the state, alleged that the Nyako government plundered the resources of the state, “without any tangible project to commensurate with monies accrued to the state since 2007.” Similarly, former Minister of Health (State), Dr. Idi Hong, described Nyako’s administration “as cankerworm that should be done away with.” Chief Joel Madaki, the state chairman of PDP said Nyako should have been impeached long before now. “Nyako has converted state funds to personal use and he must account for it. Why is he running?” Madaki asked. A chieftain of the party, Dr. Umar Ardo, said no court could stop the process of impeachment. He therefore advised that the lawmakers should discharge their constitu-

tional responsibilities. Among those present were Minister of Women Affairs, Hajiya Zainab Maina, Senator Bello Tukur, Dr. Ahmed Modibbo, Wilberforce Juta, MC Tahir, Mr. John Elias, Dan Suleiman, Medan Teneke, Adamu Modibbo and a host of others. The stakeholders in a communiqué signed by 56 stakeholders accused the Nyako/Ngilari administration of bringing Adamawa State down to its knees politically, economically, infrastructurally and security wise. It added that through misguided policies, the regime has exacerbated social and religious tensions in the state by creating ethnic and religious distrust among the various groups just as it entrenched lawlessness, unconstitutionality, corruption, nepotism, favoritism and dishonesty in governance to the point that people can no longer condone the regime for a single day. They added that the removal of the governor and his deputy leading to the conduct of general elections in the state within the constitutionally specified period of three months represents the best solution to the politiCONTINUED ON PAGE 5

NEWS

Sanctity of Truth

Monday, June 30, 2014

Jonathan condemns Bauchi bomb attacks, Kaduna killings

lChange your strategy, APC tells FG Anule Emmanuel and Yekeen Nurudeen Abuja

resident Goodluck Jonathan has condemned Friday night bomb attacks in Bayan Gari area of Bauchi State and the recent mass killings in Southern part of Kaduna, vowing to apprehend the perpetrators. But the All Progressives Congress (APC) urged the Jonathan-led administration to change its strategy in the fight against terror and stop chasing shadows. The President in a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati, commiserated with families who lost loved ones in the attacks which he described as heinous. He also extended his heartfelt sympathies to all those who suffered injuries or lost their properties during the wanton assaults in the two states.

President Jonathan reassured the people of Bauchi and Kaduna states that the Federal Government would continue to take all necessary actions to apprehend the perpetrators of the dastardly attacks and restore the fullest possible security to all parts of the country. The president directed all relevant Federal Government agencies to continue to speedily make emergency medical and relief assistance available to all those who were either injured or displaced by recent bombings and attacks. He urged Nigerians to give maximum support and cooperation to the Armed Forces and security agencies who continue to work incessantly to end the menace of insecurity in the country within the shortest possible time. Meanwhile, the APC has called on Federal Government to review

its strategy for the fight against terrorism, noting that whatever is being done now is definitely not working, as deadly terrorist attacks have almost become a daily affair in the country. “Whatever strategy being used by this Federal Government is not yielding enough positive results. Otherwise, these terrorists would not have gone from carrying out their attacks on the outskirts of a city like Abuja, for example, to exploding a bomb right in the heart of the city as was witnessed in Wuse 2 last week,’’ APC said. APC in a statement issued in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, said nothing can justify the spilling of the blood of innocent citizens, while commiserating with the families of the victims. The party wondered in particular why Abuja has

remained so vulnerable to such attacks, considering the millions of naira reportedly spent on the CCTV project that was supposed to help secure the city, asking: ‘’Or has this project again become a victim of the runaway corruption and incompetence for which this administration is renowned?’’ It lamented that instead of reaching out across partisan lines as the opposition has suggested several times, the Federal Government has resorted to chasing shadows while the killing of innocent citizens intensifies “The scorecard of this Federal Government in the fight against terror is very dismal. Some 76 days after over 200 girls were abducted from Chibok, the girls are not any nearer home today than they were on the day they were abducted, and all the clueless and ineffective administration of President Jonathan can do is to engage in image-laundering that

Director, Centre on Democracy, Development and Rule of Law, Stanford University, United States, Prof. Larry Diamond (left) and former Governor of Lagos State, Senator Bola Tinubu, during Diamond’s visit to Tinubu in Lagos…at the weekend

has caused the taxpayers US$1.2 million; witch-hunt the media as well as those perceived to be opponents of the administration and engage in a continuous and unprecedented abuse of national institutions. ‘’This administration could have pumped the US$1.2 million it frittered away in the name of image-laundering in the US into the fight against terror, which seems to have waned. Unfortunately, as the President kicked started his wasteful image laundering with an op-ed in The Washington Post, he was being skewered in another US newspaper, The New York Post. ‘’The paper’s (New York Post) Editorial Board wrote of the President’s newspaper diplomacy: ‘Remember, this is the same leader whose military initially claimed it had freed the girls, whose wife’s anger was directed at Nigerians protesting the government’s inaction rather than the kidnappers and who presides over Africa’s largest economy and fourth-largest armed forces’. “There is no better demonstration of the fact that the administration has wasted public funds on a misbegotten image laundering than this,” it said. APC also described the treatment meted out to pilgrims travelling to Saudi Arabia for lesser Hajj from the Maiduguri airport as another in a series of shadow-chasing by the government, which would rather misuse national institutions to flex muscles against innocent citizens than tackle the terrorists headlong. The party said forcing

the pilgrims to travel by road from Maiduguri to Kano to be airlifted is callous and poorly-thoughtout, considering the dangers they are likely to face on the road. “The argument that the airlifting from Maiduguri was stopped at the last minute because of security is hogwash. Is that also the same reason that a private plane that flew into the same airport with eight people on board was forced to fly back empty after those who wanted to travel in it were prevented from doing so? Is it the same security reason that forced the closure of Akure airport even as planes that ferried APC leaders to the airport were on the tarmac? Is it also why newspapers were targeted across the nation? “The truth is that the Jonathan administration is playing dirty politics with the fight against terror, using national institutions to abridge constitutionally-guaranteed rights,” it said. APC advised the Federal Government to stop wasting public funds on image-laundering because no good advert can sell a bad product. “This government should realise that its raison d’etre is the security and welfare of Nigerians, and that it has failed woefully in this regard. Therefore, it should be humble enough to admit its limitations and then reach out to all stakeholders, including those in the opposition, to rejig its anti-terror strategy and save our innocent citizens from the killings and maimings by Boko Haram,” the party said.

Impeachment: Ministers, PDP mobilise against Nyako, Ngilari CONTINUED FROM PAGE 4

cal and governance crisis bedevilling the state since the coming of the administration into office. The communiqué further stated that the entire members of the PDP in the state including the Executive Committee members of its organs, members of its Board of Trustees (BoT), members of its National Executive Committee (NEC), its stakeholders and elders have condemned the acts of gross misconduct perpetrated by the governor and his deputy and hence its total support for the impeachment initiative and action of the legislative arm. “Members of the House

of Assembly are hereby commended for this bold initiative and encouraged to continue the impeachment process to its logical conclusion for it to serve as a lesson and deterrent to the executive,” the communiqué said. The stakeholders called on all PDP House of Assembly members to take note of the position taken by the state secretariat of the party in respect of the impeachment move, and remain steadfast on it. “While the party in the state solidly stands by and supports the legislature, the meeting also calls upon all people of good standing in the state to likewise support our law-

makers,” the communique stated. It also called on the judiciary to maintain neutrality in the matter and to allow due process of the constitution take its full course without hindrance, saying that the barefaced impunity of the state executive has also affected the judiciary itself. The communiqué also warned non-Adamawa indigenes to desist from meddling in the state affairs, saying that the issue is “solely an Adamawa state matter.” It called on the Economic and Financial Crimes Commission (EFCC), Independent Corrupt and other related offences Commission

(ICPC) and any other body investigating financial frauds against Adamawa State to make their preliminary findings public so as to help members of the public to both appreciate the magnitude of the frauds involved and possibly help the investigating bodies with more useful information that they may not possess. Some stakeholders were said to have backed out from the demand, preferring that only the governor should be removed. In a swift reaction, the immediate past chairman of PDP, Alhaji Mijinyawa Umaru Kugama described the PDP stakeholders’ meeting as gathering of anti-democratic

elements who are in desperate mission to topple an elected governor for personal interest. Kugama, now an APC chieftain, said Haruna should not be the one accusing Nyako of nonperformance. “Haruna governed the state for eight years without any tangible development to show for it. He should bury his head in shame for inflicting poverty on the people of the state he claimed he loved rather than joining force to pull down the administration led by Nyako who bring dividends of democracy to the electorate. “Boni would have been impeached by the then members of the House of

Assembly under the leadership of Hon. Abubakar Abdulahi Girei if not for the intervention of the National Secretary of the PDP and his political godfather, former Vice-President Atiku Abubakar, who rallied round him.” “What we are seeing is gang-up of old brigade looters who were denied access to the state treasury by Nyako administration as it was not business as usual,” he said. Kugama said no amount of intimidation from the PDP would stop the judiciary from its constitutional responsibility despite their claim that they are working on the presidency to remove Nyako at all cost.

NEWS

Sanctity of Truth

Monday, June 30, 2014

Confab goes tough on defection by governors, others Onwuka Nzeshi ABUJA

he National Conference has initiated moves to stop political office holders, particularly state governors and members of the federal and state legislature from defecting from one political party to another midway into their tenures in office. It has also set machinery in motion to instil some good measure of discipline into the political parties through the enforcement of internal democracy in the parties.

In this light, the Committee on Political Parties and Electoral Matters at the ongoing conference has recommended that Section 68(g) of the 1999 Constitution be amended to indicate that any elected official, executive or legislative, who cross-carpets, regardless of the reason for such defection, shall automatically forfeit his/ her seat. Such an official, would however, be free to contest for the position he/ she vacated or any other position on the basis of their new political party. The committee is also seeking an amendment of

PDP: PDI staff accuse NWC of disparity in salary structure Johnchuks Onuanyim Abuja

he staff of Peoples Democratic Institute (PDI) have accused the National Working Committee (NWC) of the Peoples Democratic Party of denying them their new salary structure for 19 months. They also accused the PDP NWC of embezzling their housing allowances for the past two years. According to a source from the Institute, the NWC members have refused to pay the staff the Enhanced Salary Structure approved and enjoyed by the staff of the PDP headquarters, Wadata House. The Enhanced Salary Structure of the PDP was approved and signed by former National Secretary of the party, Prince Olagunsoye Oyinlola. Given the present staff salary structure which the PDP staff enjoy, the junior staff earns more than the Director General of the Institute. PDI is the research arm of the PDP. Buttressing their claims, the staff stated that article 62 (7) of the party’s constitution states that whatever applies to the party financially will apply to the Institute. The Article states: The activities of the Institute shall be in accordance with its Charter and the provision of this constitution as regards the financial regulation of the party shall apply to it. In the Enhanced Salary Structure of the party, a Director at the PDP headquarters earns, N472, 757 monthly while that of PDI earns N88, 067; Assistant

Director in PDP, N349, 010 while that of PDI is N76, 766; Supervisory Staff of PDP, N241, 440; Intermediate staff of PDP, N213, 279, PDI, N37, 083 and Junior staff of PDP, N129, 005, PDI, N24, 893. The Director General of PDI take-home for the month is N106, 500. The staff in their articulated complaints said: “Annual budget of the Institute serves as conduit pipe by which NWC members source for funds and would not implement the budget when money is released; non-implementation of the approved Enhance Salary Structure enjoy by the staff of PDP Headquarters for 19 months contrary to Article 62(7) of the PDP’s constitution. It is disheartening to note that the staff of a junior staff at the PDP headquarters is far above that of the Director General of PDI.” They added: “Nonpayment of the Institute entitled two years housing allowances has led to the eviction of some staff by the landlords, while the staff of PDP had been paid the Enhanced Salary Structure.” The staff also stated that some of the PDI staff have died as a result of lack of money for proper medical treatment. They accused NWC of neglecting the welfare of PDI and the staff as they have refused to constitute the governing board of the Institute. All efforts made to get the party’s National Publicity Secretary, Chief Olisa Metuh’s reactions on the allegations were not successful as he neither picked his call nor responded to text sent to his phone.

the Electoral Act to disempower any political party to choose its officials or candidates for elections except through the democratic process of voting. These recommendations are contained in a 31-page report submitted by the 28-member committee headed by two former Presidents of the Senate, Senators Iyorchia Ayu and Ken Nnamani. The committee examined the political trends in the country over the past 15 years of democratic rule and identified several lapses for which it recommended appropriate legal and institutional remedies. The report which will be considered at plenary today noted that given the vital role of political par-

ties in the electioneering and democratic processes, it would be imperative for politicians and their parties to play by the rules and function in a manner that would support the growth of a robust democratic culture in Nigeria. In a copy of the report obtained by New Telegraph, the committee observed that political office holders are elected on the basis of their political parties, except where the law provides for independent candidature, and was therefore convinced that cross-carpeting is a major propellant of instability in the political system. The committee noted that the extant provisions in the 1999 Constitution and the Electoral Act were not profound enough to

discourage politicians from quitting the parties on whose platform they were elected and joining another party on flimsy excuses. In a bid to curb the excesses of political godfathers in the various parties, the committee recommended that henceforth, the votes of party members should be allowed to count at every situation where the rules of the parties make for voting, including at the primary elections of the parties. The committee stressed that the recurrent practice of “consensus” decisionmaking mechanism within the parties which often frustrates the laid down democratic processes should be discouraged.

The committee stated that while it may not rule out the possibility of the emergence of candidates for election through consensus, any such consensus agreement or decisions within the party should still be taken through the established democratic system of voting. The report said that absence of internal democracy has been a major challenge in Nigerian politics as it has not only heated up the system at various times but has denied the system the opportunity to develop a vibrant political culture. Interestingly, the report observed that the challenge is not about the absence of enabling laws but the lack of willingness of the politicians to play by the rules.

L-R: Wife of Anambra State Deputy Governor, Mrs. Oby Okeke; wife of the governor, Mrs Ebele Obiano and her husband, Mr. Willie Obiano, at the unveiling of the corporate logo of the Caring Family Enhancement Initiative (CAFE), in Awka...at the weekend

Reps get report on Tambuwal’s harassment Wednesday Philip Nyam Abuja

he House of Representatives will on Wednesday receive report of its joint committee on defence, army, police, interior and public safety on the alleged harassment of Speaker Aminu Waziri Tambuwal in Kaduna a week ago. The House had last Wednesday mandated the joint committee to investigate the issue and report back to the House within one week. Members of the House of Representatives put aside party loyalty Wednesday and formed a common ground in their condemnation of the harassment of the Speaker by security operatives last Monday. New Telegraph gathered that the committee, which is being led by the chairman, Committee on

Defence, Bashir Adamu, has been meeting and has made appreciable progress towards meeting the one-week deadline. A member of the House Committee on Army, who disclosed this to our correspondent, said: “Although I’m not the head of this joint committee and have not been mandated by anybody to speak to the press, I can confirm to you that we have been up and doing and God willing we will submit our report on Wednesday.” According to him, the committee decided to handle the matter discreetly because it was “very sensitive and because of the peculiar times we are in, we have to be careful in whatever we are doing. But I can tell you we will do a good job.” It will be recalled that last week, the House reverted to an executive session to discuss the al-

leged harassment of the Speaker by some soldiers in Kaduna where he went to attend a conference on security organised by the office of the National Security Adviser (NSA). Although, the NSA, Col. Sambo Dasuki has apologised to the Speaker, the lawmakers insisted that the matter be fully investigated in order to forestall further occurrence because the apology did not emanate from the “appropriate authorities” since the soldiers were said to be acting on the “orders from above”. Efforts to get the chairman of the joint committee, Adamu, to confirm the story did not yield results. It will be recalled that even after the committee was mandated to carry out the investigation, Tambuwal had told his colleagues that the matter was not about an individual, insisting that he

as a person was not above the law, but the office of the Speaker ought to be respected. According to the speaker, “I subjected myself to thorough search by ground staff of Air France about two weeks ago when I travelled to Paris as an individual and not Speaker of the House of Representatives. “I was frisked and my luggage searched. But I also remember that when I travel on official duty, I enjoy some form of protocol and benefits as I always get treated with respect as an official of the Nigerian government. “This was lacking in Kaduna on Monday. However, no one should have the impression that we are trying to say we are above the law, no, the issue here is about respect for the institution of the parliament and not the person of Aminu Tambuwal.”

NEWS

Sanctity of Truth

Monday, June 30, 2014

Tambuwal, Imoke challenge legislators on youth, women Clement James Calabar

peaker of the House of SAminu Representatives, Hon. Tambuwal, has

called on federal legislators to promote youth and women empowerment in their constituencies in order to assist in reducing the rate of unemployment in the country. Tambuwal made the appeal at the weekend in Calabar, during the empowerment programme put in place by Hon. Essien Ayi, the lawmaker representing Calabar South, Akpabuyo and Bakassi federal constituency in Cross River State. He said he was willing to encourage members of the lower House to give

back to their constituents by personally attending such programmes. Tambuwal, who was excited at the items that were given to the 107 constituents, which included cars, computers, hair dressing equipment, among others, said the challenge facing the present administration was job creation, appealing to wealthy Nigerians to bridge the gap by generating ideas that could help solve the problem. “I would want to see more of this from federal lawmakers and I promise to personally attend such programmes to encourage them. Of course, programmes like this touch directly on the lives of the people,” Tambuwal said.

Task force, NAFDAC seal 400 stores, seize N700m products Appolonia Adeyemi o fewer than 400 pharNbeen maceutical stores have sealed in the Idu-

mota and Mushin areas of Lagos State and the Sabon-Gari Drug Market in Kano State by the Federal Task Force on Fake and Counterfeit Drugs and Unwholesome Processed Foods. The stores were sealed over alleged sale and distribution of substandard, spurious, falsely labeled and falsified counterfeit medical products (SSFFC). Similarly, fake products valued at over N700 million have been seized by the Federal Task Force, which consists of operatives of the National Agency for Food and Drug Administration and Control (NAFDAC) and other stakeholders such as the Pharmacy Coun-

Babatope Okeowo Akure

he Federal GovernTestablishment ment has approved the of a new

polytechnic at Ile-Oluji in Ile-Oluji/Okeigbo Local Government area of Ondo State. The federal polytechnic makes it the second federal institution in the state and has addressed the agitation of the people of Ondo South senatorial district for federal presence. Governor Olusegun Mimiko, disclosed this at the palace of the Jegun of Ile Oluji, at the weekend. He said he received the letter announcing the establishment of the polytechnic from the Federal Government and decided

Sambo explains choice of Alkali as Jonathan’s adviser HEADWORK

It pays to be dedicated, that is what Alkali has going for him Onyekachi Eze ABUJA

ice-President Namadi Sambo, at the weekend, explained the choice of Prof. Rufa’i Ahmed Alkali as Special Adviser to President Goodluck Jonathan, on Political Affairs. Sambo, who spoke at a dinner organised in honour of the Special Adviser by the Peoples

24%

to locate it in Ile Oluji. President Jonathan in the letter signed by the Minister of State and Supervising Minister for Education, Nyesom Nwike, said “the new institution is established to provide increased access to our teeming youths, who are yearning for tertiary education and to provide skilled middlelevel manpower for national development.” While justifying the choice of the state, President Jonathan in the letter said: “The establishment of the polytechnic is informed by the fact that there is no federal polytechnic in Ondo State as is the case with some of its peers in the South-West zone of the country.”

Democratic Party (PDP) National Youth Vanguard in Abuja, said Alkali’s appointment was a mark of recognition for hard work and dedication to duty. Represented by his Special Assistant on Political Matters, Alhaji Abba Dabo, the vice-president observed that Prof. Alkali “was significant in the Goodluck/Sambo Campaign Organisation” that brought the duo into office in 2011. He added that the new special adviser, with his understanding of Nigeria’s political terrain, “is a great asset to the President,” advising him to deploy his wealth of knowledge and expe-

The percentage prevalence of diabetes (20-79 years) in Vanuatu in 2013. Source: Idp.com

cil of Nigeria (PCN), the Nigeria Police and the Nigeria Customs Service (NCS), among others. Director General of NAFDAC, Dr. Paul Orhii, who disclosed this at the weekend said, the operation to close the stores and confiscate the products was code-named, ‘Operation Porcupine,’ which was a follow up to ‘Operation Mamba’ in East Africa in 2008 and ‘Opration Cobra,’ which took place in seven West African countries in 2011. According to Orhii, their discoveries include counterfeit and expired products such as antibiotics, aphrodisiacs with pornographic pictorials, anti-malarial drugs, multivitamins, endocrinals like misoprostol, expired oxytocin injection and controlled products like Tramadol and Diazepam.

FG establishes new polytechnic in Ondo

rience in his new assignment. It was, however, a night of tribute and encomium on the new special adviser, who was the former National Publicity Secretary of the PDP, as chieftains of the party took turn to eulogise him. Former PDP National Chairman, Senator Ahmadu Ali, who chaired the occasion, described Alkali’s appointment as a reward for loyalty, just as another former National Chairman, Dr. Okwesilieze Nwodo, believed that his appointment was a show of confidence in him by President Jonathan. Nwodo described Alkali as a versatile politi-

18,953

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

cian, urging him to use his contact to win more support for Mr. President and the PDP. Former Minister of Defence, Dr. Mohammed Haliru Bello, however, noted that some people who served the party in 2011 are still waiting to be rewarded. Haliru, who was also a former National Chairman of the PDP, charged the new special adviser to insist that political decisions and actions are connected to the people, adding quickly that “it is not easy advising people in power.” He said Alkali’s choice was not by accident or coincidence, but a design to reward hard work.

N2.44bn

The internally generated revenue of Borno State in 2012. Source: National Bureau of Statistics

L-R: Abia State Governor, Theodore Orji; National Vice President, Ohaneze Ndigbo, Chief O.A.U.Onyema; President General, Chief Enwo Igariwey and Chairman of the occasion, Gen. Azubike Ihejirika (rtd.), after the election of the National Executives of Ohaneze Youth Council in Enugu

Insecurity: NOA boss urges citizens to give information Buhari Bello Jos

lateau State Director of the National Orientation Agency (NOA), Mr. Bulus Dabit, has advised members of the public to pass vital information to security agencies to help wipe out terrorists’ activities in the country. Dabit stated this in Jos during a oneday sensitisation programme on the security challenges in the country. “The protection of lives and property is everybody’s business and

should not be left in the hands of security agencies alone,” he said. He urged the public to assist them in the discharge of their functions by giving them needed information “The terrorists are human beings that live in the larger society and members of the public, who have information about them, should expose them so that security agents will arrest them. “Any member of the society that shields terrorists and their activities may one day turn out to be their victim.”

The director called on market women and commercial vehicle drivers operating around markets and motor parks to expose any suspicious movement to relevant security agencies. Dabit commended the National Union of Road Transport Workers (NURTW) in Plateau State for installing security gadgets at the various motor parks in Jos. Earlier, Vice-Chairman of the union, Alhaji Yushau Daniyamoon, called on security agents to treat information passed to them with

utmost confidentiality. Daniyamoon said as drivers, they are privileged to have different kinds of information that would be useful to the security agents as passengers discuss freely during their trips. He appealed to security agents to treat such information with dispatch without exposing the drivers to risk. The vice-chairman appealed to the Department of the State Security (DSS) and the police to post their agents to the various parks in Jos, to mitigate envisaged attacks on passengers.

NEWS

Sanctity of Truth

Monday, June 30, 2014

Boko Haram: SERAP seeks establishment of NEB civil society group, ARights Socio-Economic and Accountability Project (SERAP) has urged President Goodluck Jonathan to implement courts’ judgments on the right to education by establishing the Nigerian Education Bank. It said that would enhance access of millions of dis-

advantaged children to education. The organisation, through the statement signed by its Executive Director, Adetokunbo Mumuni, said that the nation has the resources and capacity to establish the bank if the government is able to exercise the required political will.

PDP, APC trade words over commissioner's arrest Adeolu Adeyemo Osogbo

he alleged arrest of the Tsioner Osun State Commisfor Finance, Budget

and Economic Planning, Dr. Wale Bolorunduro by security operatives in Delta State is now causing ripples between the state chapter of the Peoples Democratic Party (PDP) and the All Prrogressives Congress, APC. Both are now at each other's throat over the matter. As the PDP insisted that the case should not

Nigeria can't survive next four years, APC warns

Cajetan Mmuta BENIN

he All Progressives Congress, APC, warned yesterday that going by the unfolding events in the polity, Nigeria cannot survive in the next four years under the Peoples Democratic Party-led ad-

ministration of President Goodluck Jonathan. Chairman of the party, Chief John Odigie Oyegun, who gave the indication in an interview with journalists in Benin, Edo State, said the way things are going, it would be difficult for the country to survive under the PDP, if things

continue the way they are presently. He said there was an urgent need for the citizens to reflect on the numerous ills bedevilling the nation, particularly the Federal Government’s failure to deal with the issues of insecurity, rising state of unemployment among youths,

power generation, impunity, corruption and other excesses associated with the government of the day. Oyegun urged Nigerians to look the direction of the opposition, APC, as an alternative platform to provide the country with new leadership direction and desired change.

be handled with levity in a release made available to newsmen by his Chairman, Alhaji Ganiyu Olaoluwa, the APC in a separate release by its Director Of Publicity and Strategy, Kunle Oyatomi, described the alleged arrest as a plot by PDP to incapacitate Rauf Aregbesola-led government in the state. Olaoluwa charged the Inspector General of Police to ensure that the alleged arrest of the commissioner is investigated thoroughly.

Ebonyi NBA elects new officers Charles Onyekwere ABAKALIKI

he Ebonyi State chapTAssociation, ter of the Nigerian Bar NBA, has

elected its new leadership with Augustine Owo as the chairman and Bar Cletus Arthur as the vice chairman.

Announcing the results of the election, the chairman of the electoral committee, Albert Alo, said three contestants participated in the election, which are Ogazi Friday -76 votes, Emeka Anosike -88 votes while Augustine Owo got 98 votes making him winner.

50 Star Times subscribers win Jeremiah Madaki smiled on 50 subLatuck scribers of Star Times the second round of

the ongoing Star Times Extra-time promo as they won a 32' Digital LED TV. The grand prize for the promo was a Toyota Yaris 2014

model which was won by one Emeka Collins from Maraba area of the Federal Capital Territory, Abuja. Somoye Habeeb, Brand and Marketing manager, Star Times, said that the promo which began in May would continue till August.

NHRC boss appears before Reps today Philip Nyam Abuja

he Executive SecreTman tary of National HuRights Commission

(NHRC), Prof. Bem Angwe is to appear before the House of Representatives committee on Public Accounts (PAC) today. He is to explain how N724million Service Wide Vote (SWV) was allegedly misapplied by the commission. The invitation of the NHRC boss was conveyed when the chairman of PAC, Hon. Solomon Adeola Olamilekan (APC, Lagos), at an interactive session with officials of NHRC at the weekend. Olamilekan had told

the NHRC officials that "we've invited your executive secretary to appear before us but he has deliberately refused to show up. This committee is giving him from now till next week Monday to show up or we will declare him wanted". He explained that "all we need to hear from him is how the sum of N724m service wide vote was spent". Attempts by the commission's accountant, Mr. Balarabe Sambo to explain to the committee members why his boss failed to show up fell on deaf ears as the members insisted that Prof. Angwe must appear today.

L-R: Instructors, School for the Blind, Oshodi, Mr. Alleluyah Samuel; Mr. Akinjide Akinpelu and Lagos State Governor, Mr. Babatunde Fashola, during the Governor’s visit to the School to mark his 51st Birthday with the less Privileged in Lagos…at the weekend

Three killed, 500 houses burnt in Plateau

Musa Pam Jos

o fewer than three people were said to have been killed in a late evening attack in Wase Local Government Area of Plateau State on Saturday. Those killed included a primary school headmaster. Several persons sustained gunshot injuries. Their figure of those

that sustains injuries was put at not less than 20 people. The gunshot wounds were reportedly inflicted by youths from Kadarko town. Over 500 houses were said to have been razed by the heavily armed Kadarko ‘militants’. New Telegraph learnt that the crisis was over leadership between Jat community and Kumbwan community in Wase

Local Government of Area of Plateau State. The slain teacher, Ramson Nimmyel, hailed from Jat community in Gwantim. Nimmyel was reportedly killed at about 7:30pm when some heavily armed youths from Kadarko town stormed the community and started shooting sporadically and razing their houses. This left many wom-

en and children in critical condition, while some were rushed to Langtang General Hospital. A 13-year-old traditional leadership tussle among 12 clans resulted in some people of Tarok stock, who were displaced from Wase and Kanam Local Government Areas in a 2001 crisis, to agree to settle in a new settlement, Gwantim.

Ramadan: Pray for peace Drug abuse, threat to development, says Soyinka and unity, says Amosun gun State Governor, Islam that must be obrug abuse and illicit Trafficking in Abeokuta, OAmosun Senator Ibikunle served by all Muslims. Dtrafficking are threats he noted that drug abuse has urged Mus- With sincerity of pur- to socio-economic and and trafficking in narlim faithful to imbibe the Islamic principles of love, compassion, self discipline and obedience to constituted authority during the Holy Month of Ramadan. Amosun, in a statement by his Senior Special Assistant on Media, Mrs. Olufunmilayo Wakama, also admonished adherents of Islam to continue to pray for enduring unity, peace and progress of the country at all times. "As we all know, Ramadan, is one of the compulsory pillars of

pose and supplication to the almighty Allah, I believe that we can overcome all our challenges as a nation. I implore you to also continue to support the government in deeds and prayers," the governor said.

national development, Ogun State Commissioner for Health, Dr. Olaokun Soyinka has said. Speaking at a press conference to mark the 2014 United Nations International Day Against Drug Abuse and Illicit

cotic and psychotropic substances are global phenomena threatening not only the health of the citizens but also destroying the social cohesion, including economic and political stability of the nation.

Fire destroys facilities at Exxonmobil QIT Tony Anichebe uyo

bout 600,000 barrels Aweekend of crude oil was at the lost to fire at Mobil Producing Nigeria Qua Iboe Terminal facil-

ity in Ibeno Local Government Area of Akwa Ibom. The fire started as a result of leakage of crude oil from one of ExxonMobil’s platforms. A very reliable source, who claimed anonym-

ity disclosed this to the Newsmen in Ibeno, Akwa Ibom yesterday. He said that the incident started about 9 a.m on Friday, adding that the fire did not extend outside Mobil facility.

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0802 393 8212

MONday,JUNE 30, 2014

Ago-Okota Road: Lamentation over slow pace of work Again, slow pace of work on the Ago-Okota Road is impacting on the social and economic activities of the residents, writes ELIJAH SAMUEL

Ogbonna

A dilapidated section of the road

go is located on the western flank of Oshodi-Isolo Local Government territory, offering access routes to Oshodi-Apapa Expressway and Amuwo-Odofin Local Government. The importance of this passageway perhaps was never realised until the facelift at the Amuwo-Odofin axis extended to the road, which connects with Ago community brought to fore its viability. In the last three decades, Ago community has continued to witness steady influx of people who have taken up residences in the area. This, of course, has consequently stimulated tremendous growth of socioeconomic activities in the area. Invariably, the continual growth of human population in the community outstripped the existing infrastructure as there was no corresponding expansion and upgrade of facilities. Thus, difficulty in movement to and fro Ago crept in. The road became deplorable. It was therefore not surprising when people welcomed, with ecstasy, the decision by the state government to expand the AgoAmuwo Road. But the residents did not expect tardiness which now characterises the construction of the road, especially at the Ago end, as well as the attendant hardship. Lamentations by residents have become a daily ritual. Harrison Harika, a businessman in Ago, said the road linking the community with Amuwo was supposed to have been completed, but it stopped half way. He said: “One thing that we cannot understand is why a project of this magnitude should be handled in this manner; we don’t know whether it was the making of the government or the contractor.

Another failed section of the road

Harika

A flooded section of the road

“The present state of the road is really affecting us in diverse ways. Productive hours are usually lost in the traffic which occurs almost throughout the day because of the terrible state of the road.” Another resident, Godswill Moses, an Information Technology expert who is also a cleric, bemoaned the seeming abandonment of the road. He said: “The corruption in the nation has infested every level and aspect of our national life. It is unimaginable that a project of a few kilometres will take about three years to get to barely half of the road. “Moving in and out of Ago Palace Way is always hectic. I do not know whether it is the government or the construction company, China Civil Engineering Construction Company (CCECC), which is to blame for the slow pace of the road project. “Again, why should the company start the construction from Ago Junction only to stop less than half way at Century Hotel? We do not know whether it was the

government that had not given the company enough money for the project; but in as much as they have resolved to take the construction to the point it is now, the finishing should have been better than what they have done at that Century Hotel end. “The heavy traffic we encounter everyday on this road is mainly caused by the abandonment at that Century point. Every morning, you will pity pupils going to school because they are usually stalked in the traffic. They often get to school not earlier than 10am. “Nonetheless, as law-abiding citizens who pay taxes regularly, we have right to enjoy good roads which will enhance our socio-economic activities. But we are appealing to the government to come to the rescue of the people here. “As it is right now, this is an important road which connects Isolo, Mile 2 and Amuwo/FESTAC axis. If given proper attention, it will give life to the people and businesses in this community. Also,

good spirited individuals and the corporate organisations like the banks can also come in and do something to reduce the suffering of Ago-Palace residents.” A businesswoman and a resident of the area, Ngozi Ogbonna, said a lot had happened concerning the road construction from the beginning. She said the construction work was initially stalled due to several court injunctions obtained by some property owners so that government would not demolish their houses. According to her, the government is on the right course and means well. She said: “When the Amuwo end of this road was constructed, the aim was to come to the other end which is Ago-Palace and start the construction which will connect both ends together. But the way the road construction has been abandoned has made living so difficult for us. “At the beginning, court injunctions from property owners delayed the commencement of the project around the roundabout area where it started. When contacted, the spokesman, Ministry of Works, Biola Fagunwa, said the road was not abandoned. He said: “We did not abandon the road. It will be completed. We have awarded the last phase. This will terminate at the Amuwo end. “The Century Hotel section is the end of the present contract and the beginning of the new award.”

10 METRO

Monday, June 30, 2014

Flood disaster: Mob attacks construction firm, vandalises equipment PROTEST Angry youths embark on a violent protest over deaths blamed on slow pace of work on reconstruction of Apete Bridge in Ibadan Sola Adeyemo Ibadan

ne person was reportedly shot dead in Apete area of Ibadan, the Oyo State capital. The victim was said to be part of the angry youth protesting the death of 10 people who were swept away when flood following a down pour on Saturday evening carried away a makeshift bridge on the Apete River. Angry youths in the area had yesterday attacked the construction company handling the bridge, destroying equipment and vandalising property. It was learnt that the protest would have degenerated further but for the armed policemen and security unit tagged “Operation Burst.” But an unconfirmed report said that a youth was shot dead, leading to a face-off between the surging youths who were hauling stones and other objects at the security operatives, while they were being repelled with tear gas canisters fired into their midst. The rain, which started about 3 pm on Saturday, lasted for about three hours in most parts of Ibadan, leading to the sweeping away of the makeshift bridge constructed after the August 26, 2011 flood that damaged the bridge connecting Ijokodo with Apete community. The collapsed bridge led to the death of scores of people then. Miffed by the fact that over three years af-

The section where the bridge was swept away

Vandalised caterpillars at Apete

ter the bridge had collapsed, the contractor, Nairda, had not completed the new bridge, and people’s lives were still being wasted, the angry youths late Saturday evening attacked the work station situated on Ijokodo-Apete

Road, beside the bridge linking the two communities. The youth in the Ido Local Government Area broke the windscreens of the caterpillars, vandalised office equipment and other

Firms, shops, others shut over environmental degradation

One of the shut companies

Muritala Ayinla

agos State Government has closed five companies and an oil bunkering joint because of environmental degradation and violation of the environmental law.

A combined team of the Lagos State Task Force on Environmental and Special Offences (Enforcement) Unit and officials of the Zero Tolerance Department of the Lagos State Ministry of the Environment enforced the closure at the weekend.

The areas where the team enforced the law include Surulere, Ijesha, Cele, Ballet, Anthony and Jibowu. The team was led by the Assistant Chief Scientific Officer, Ministry of the Environment, Ademola Adegbite. The government had earlier warned residents and companies, especially car dealers occupying walkways and other rights of way to vacate their premises, threatening to enforce its law on recalcitrant automobile dealers. Hence, at Ballet area on Oshodi-Apapa Expressway, a car dealer company and Transglobal Logistics Company, dealing in caterpillars and other heavy duty equipment were shutdown. It was gathered that the two companies parked their vehicles on the walkways and did not abate the nuisance after they were served notices. Also, the team also shut down two travelling bus companies, Bonway Motors Nigeria Limited and Ifesinachi Motor Industry Nigeria Limited, at Jibowu area for degrading the environment.

property belonging to the company. A woman, who identified herself as Dammy, said the victims swept away by the river, were warned from the other end of the community not to use the plank bridge but because they wanted to get home on time, refused to heed the warning and eventually fell into the river, when the bridge gave way. She said: “We were at the Apete end of the bridge and when we noticed that the bridge was cracking and the current of the river was about to sweep it away, we started shouting at the people on the Ijokodo end of the bridge to go back and not use the bridge. “They did not heed our call because they wanted to reach their homes on time. At a point, the bridge, which had no balustrade at the sides, collapsed. As it was being swept away, many people fell into the river.” Another eyewitness, Tunde Emiola, said that the youth were angered by the slow pace of work by the construction company and increasing number of deaths because of the dilapidated state of the bridge. He said: “The rain started in the afternoon but by 6.30 pm, the bridge was submerged and standing precariously. “I was among the crowd at the Apete end of the river bank. We saw people trying to make use of the bridge and warned them but they were desperate to reach home before it was too dark. “Suddenly, the wooden pillars holding the bridge collapsed and people fell into the river. The current was too much so there was little hope for survival. We rescued two people but more than 10 others drowned immediately. I was there and I saw it all till very late. The youth were really angry at the number of death.” According to Emiola, the volume of the flood in the river was so high because it was formed by many other rivers like Ogun River, Eleyele River and so on. He added that the collapsed bridge was the only link between Ijokodo community and Apete, Ajibode, Arula, Awotan, Olomo and other communities in the area. One of the security men employed by the construction company, Bassey Etum, said that he and five of his colleagues had to run away when the irate youth came on Saturday night. He said: “The residents said people were drowned because of the bridge that collapsed. They vented their anger on the company and destroyed our machines and equipment. They stole computers and other office equipment too. “There were six security men here when they came last night (Saturday night). They wanted to lynch us, so we ran into the bush. When we returned around 11 pm, nothing was left untouched. The whole place had been vandalised.” One of the policemen at the scene of the disaster, however, said that the youth were hostile towards them, wondering why they had to take laws into their own hands. “They threw stones at us and shouted at us from the other side of the river when we reached here. They said the government abandoned them and caused the death of their neighbours who were swept away on Saturday evening. But we are trying to calm the situation,” he said. When the Chairman of Ido Local Government, Prof. Joseph Olowofela, visited the scene, he said the development was unfortunate.

METRO

Monday, June 30, 2014

‘Ondo Kidney Care Centre, one of world’s best’

ndo State Government said its Kidney Care Centre, located at the Medical Village in Ondo town, was one of the best in the world. The Commissioner for Information, Kayode Akinmade, disclosed this at the weekend while speaking with journalists at the Kidney Centre premises. Akinmade said with the provision, the practice by many wealthy Nigerians to leave the country in search of cure for kidney-related diseases would soon be a thing of the past. Speaking in the same vein, the Chief Medical Director (CMD) of the Kidney Care Centre, Dr Akinbodewa Akinwumi, said the centre was equipped with facilities ob-

Gov. Mimiko

tainable anywhere in Europe and America. The CMD added that the hospital, which was estab-

Group offers free eye test

KunleOlayeni Abeokuta

t least, 3,000 people benefited from an eye screening exercise sponsoredbyaNon-Governmental Organisation(NGO),BetterOpportunities for Tomorrow (BOT). At the screening held in Ilaro, the headquarters of Yewa South Local Government Area of Ogun State, the people also received free eyeglasses. The initiator of BOT, Mr Biyi Otegbeye (a lawyer), said the exercise was in continuation of the organisation’s medical intervention in Ogun West Senatorial District comprising Yewa-Awori people. Prior to the event, BOT had organised empowerment seminars in Ado-Odo, Ota, Igbesa and other major areas in the axis to prepare and empower people for inherent opportunities. The venue of the event, Gateway Multi-purpose Hall, Ilaro, started to bubble with activities as early 7am when people trooped to avail themselves of the rare op-

portunity of knowing the medical situation of their senses of sight. While ophthalmologists were attending to the people by carrying out thorough tests on their eyes to determinethelevelof impairment, optometristswereongroundtorecommendtherightcorrectivelenses. Apart from prescribing glasses, the specialists also gave advice to people with more severe eye conditions like glaucoma and cataract which could be treated in the hospital. OtegbeyesaidBOTwouldnotrelent in its efforts to make life more meaningful for the people of Yewa land. According to him, medical mission,asoneof theobjectivesof BOT, will not be toyed with as health of his people is key to productivity. He said: “Though eye screening and distribution of eyeglasses are one of the components of the medicalmission,itisbeingpursued vigorously now as it has been discovered that apart from high blood pressure and diabetes, eye defect is another serious health challenge facing our people.

lished in 2013 by Governor Olusegun Mimiko, had 15 dialysis machines and had already blazed the trail in kidney care by producing the first renal dietician in the country. He said: “This hospital, with

Abeokuta

gun State Government has resolved the lingering leadership crisis rocking the Awolowo market in Sagamu Local Government Area. At a stakeholders’ meeting in Abeokuta, the Commissioner for Local Government and Chieftaincy Affairs, Chief Muyiwa Oladipo, stressed the imperative

of peaceful co-existence as recipe for socio-economic development. The market had for some time been enmeshed in power tussle between the Iyaloja, Alhaja Suwebat Alimi, and the Babaloja, Mr Segun Moshood, which snowballed into serious division in the market before government’s intervention. Oladipo, who met the warring leaders of the market, said it was high time the leadership crisis stopped.

gists. “Now, that is peculiar because the care of the kidney patients is under the auspices of a team and the team is made up of the nephrologists, renal dieticians. “It is important to note that this is the centre where we have produced the first renal dietician in Nigeria. “The government keeps recruiting more and more just to make sure that we have enough people to take care of people in the community. “The medical staff that we have here are structured in such a way that we will be able to meet up with the three areas of focus that we have. “So, we have doctors, nurses (general nurses and dialysis nurses); dieticians, pharmacists, pharmacy technicians, medical lab scientists and health information managers.”

Cab drivers seek bomb detectors, security surveillance Camillus Nnaji

axi Drivers and Cab Operators Association (TDCOA), OjoduBerger Retail Market unit, has called on government, corporate organisations and public-spirited individuals to provide them with surveillance appliances which include bomb detectors. The Chairman of the association, Mr Sunday Ojo, said the provision of security gadgets had become necessary because of the strategic position of the park. “We are trying our best to provide security in and around this park; we need appliances like bomb detectors. Provision of these appliances has become very necessary because of our location. We need the support of the Lagos State Government and the public. You can see we are the first that receive people who come into Lagos at Berger bus stop. “You can also see we have very

The taxi park

large movement of passengers here. Therefore, we need more surveillance patrol, bomb detectors and security information.” Ojo explained that at the park, the drivers were not leaving any stone unturned in screening passengers. “We are doing our own here. We don’t entertain people sitting idly in the park. If we notice anyone, we will question him. We screen our passengers and their luggage. If we suspect anyone or if the per-

son does not allow us to search his/ her luggage, then we hand him/her over to the police,” he added. Also, a member of the association, Mr Sunday Olowu, requested increased security surveillance in and outside the park. Olowu said the association, at the state level, had constituted a security task force to monitor parks. He said: “Sometimes we don’t even see them here, therefore we need to involve more people to monitor this park.”

last night (Saturday night), just like most of other tenants. We just had a loud bang which terrified us. When we came out later, we discovered that it was from the room of the deceased. The man who we normally called More Blessing was shot dead. “We didn’t see anyone. But his wife told us that somebody just came in, shot her husband and ran away. Nobody could tell who actually the assailant was as people were so terrified to come out immediately.” The lady said the landlord and the neighbours went to report the

incident at Makinde Police Station, Oshodi. The body was later taken away by police around 1am. The widow, addressed as Mama Daniel, was not around for her account. It was learnt that she had been taken to the police station for questioning. At Makinde police station, a police officer simply confirmed that a murder incident actually happened. The state Police Public Relations Officer (PPRO), Ngozi Braide, could not be reached for comment as her lines were switched off.

Man shot dead in wife’s presence

Ogun resolves leadership ElijahSamuel crisis at Awolowo market A Kunle Olayeni

the effort of the governor, is already linked with hospitals abroad (in Maryland, USA, and other ones in Europe). “The Medical Village is designed for one purpose: medical tourism. That is why you find that the facilities you see here are second to none in Nigeria. “In the standard of operation and personnel, it is also second to none. Our doctors here are not just medical officers. Two of our doctors are members of the Postgraduate College of Nigeria, some are members of the West African College of Physicians, and it is a confidence booster that these are not just general practitioners, but specialists in training. “There are two consultant nephrologists here, we have three dieticians, two social workers, two clinical psycholo-

man popularly called More Blessing was shot dead by a yetto-be identified assailant on Saturday night while resting in his room in the presence of his wife and their only child, a two-month old baby boy named Daniel. The man, who resided at 24, Branco Street, Mafoluku-Oshodi, Lagos, was murdered around 9pm. One of the residents, a young lady who spoke on condition of anonymity, said they were alarmed by the gunshot while they were in their rooms. She said: “I was in the room

12 NEWS

Sanctity of Truth

Monday, June 30, 2014

Facebook: I have no account, beware of impostors, Ekweremadu warns Chukwu David

Abuja

eputy Senate President, Ike Ekweremadu has raised the alarm, cautioning the public to be weary of internet fraudsters, who might attempt to use his name to defraud them, saying that he never had any Facebook account. In a statement by his Special Adviser on Media, Uche Anichukwu, the Deputy Senate President alleged that the intention of the suspected criminals was to use his name to en-

gage in sinister activities and defraud unsuspecting members of the public. The statement reads: "The attention of the Office of the Deputy President of the Senate has been drawn to the activities of impostors who open Facebook accounts in the name of His Excellency, the Deputy President of the Senate, Senator Ike Ekweremadu. "Their intents are to engage in shady deals and defraud unsuspecting members of the public. "Our teeming supporters and members of the

public are hereby warned not to have anything to do with any of such Facebook accounts, as they have absolutely nothing to do with Senator Ike Ekweremadu or Office of the Deputy President of the Senate. According to Anichukwu, "distinguished Senator Ike Ekweremadu has no Facebook account and anyone dealing with or communicating with anyone who claims to be the Deputy President of the Senate on any matter, including contracts, appointments, scholarships, sponsorship, etc is

certainly doing so at his or her or risk. The person is obviously dealing with fraudsters. "His scholarship scheme and other empower ment programmes are handled by the Ikeoha Foundation, a nongovernmental and not-for-profit organisation he founded in 1997. Annual scholarship programmes and bursary awards are usually advertised and the beneficiaries selected based on pre-determined criteria", the statement concluded.

North must produce next president, says Shuluwa Cephas Iorhemen

Makurdi

frontline politician and ADemocratic a stalwart of the People's Party ( PDP) in Benue State, Chief Abu King Shuluwa has insisted that it is the turn of the north to produce the next president following what he termed 'a gentleman agreement' that was reached that in 2015 the pendulum of power would swing over to the region. He therefore implored President Goodluck Jonathan to take the path of honour and denounce his intention to contest presidential election next year in order to allow peace reign in the country. Speaking to journalists in his Makurdi residence, the erstwhile member of the Revenue Mobilization

Allocation and Fiscal Commission (RMAFC) argued that the gentleman agreement was brokered between the South and North in 1999 to the effect that come 2015, power would return to the north. He pointed out that the agreement is still alive in the minds of Northerners and called on the need to respect it. "If I agree with you that let's do this or let's do that and then tomorrow you truncate that agreement, what do you think I will do next", he said. Chief Shuluwa who disclosed that former President, Chief Olusegun Obasanjo was also aware of the signing of the agreement, reiterated the readiness of the North to resist Jonathan's re-election bid.

PDP raises alarm over plot to tamper with voting materials Adesina Wahab

Ado-Ekiti

he Ekiti State chapter of TParty the People’s Democratic (PDP) has accused

L-R:Director,GuinnessNigeriaFoundation,Mr.SesanSobowale;CountryDirector,ConcernUniversal,Mr.TimKellowandHead,SustainabilityandResponsibility, Guinness Nigeria, Mrs. Adrianne Nwagwu, after the Guinness Nigeria Foundation signing ceremony with Concern Universal for Safe Water and Improved Hygiene initiative for Cross River State, held in Lagos

Edo House of Assembly still boiling lOshiomhole, civil societies meet over impasse, say legislators must obey law Cajetan Mmuta

Benin

caucus of the All ProA(APC) gressives Congress members in the

Federal House of Representatives from Edo State has read the riot act to warring lawmakers in the state house of assembly. They warned that the National Assembly will take over legislative activities in the hallowed chambers if they fail to resolve the lingering impasse in the state legislature. House of Representatives’ Minority Leader, Hon Samson Osagie in a statement to newsmen in Benin bemoaned what he called the flagrant disobedience of court orders by legislators elected under the platform of the opposition Peoples Democratic

Party (PDP) in the state assembly. Speaking on behalf of other APC lawmakers in the National Assembly, Osagie in the statement said, “as lawmakers, ordinarily, we should not be seen to be interfering in the affairs of the state legislature, especially, when the courts have been called to intervene, but, it has become imperative in the interest of peace and for the protection of the institution of the legislature to state as follows". The warning came as the suspended deputy speaker of the state house of assembly, Rt. Hon. Festus Ebea insisted weekend that he still remains the speaker of the 24-members state assembly. Ebea who spoke shortly after his conferment

of the traditional title of Chief Obaisiagbon of Ubiaja at the Royal Palace of the Onogie of Ubiaja, HRH Curtis Aidenogie 1, in Esan South East council of the state said he was willing to return to his position as the number four citizen of the state but for the “illegal suspension” slammed on him and others. The suspended deputy speaker said his faction made up of nine PDP members will resume sitting in the hallowed chambers of the house today (Monday) despite the antics of the APC lawmakers under speaker Uyi Igbe which adjourned to Wednesday this week. But the caucus of the APC in the House of Representatives from the state, however, in its terse

statement urged the law enforcement agents in the state to ensure they enforce the court orders as they affect the crisis rocking state assembly in order to bring about peace, law and order. “We have watched with mixed feelings the needless imbroglio among members of our (Edo) State House of Assembly culminating in the invitation of the courts to resolve the logjam”, the Minority Leader said. He further stated: “As lawmakers we all owe the institution a duty not to bring it into disrepute by disobeying the rules of the parliament and all valid orders made by a court of competent jurisdiction when they are called to intervene in any matter involving the actions of the Legislature."

the All Progressives Congress (APC) and the State Governor, Dr Kayode Fayemi of plotting to conspire with some officials of the Independent National Electoral Commission (INEC) to manipulate ballot papers and other materials used during the June 21 governorship election, with a view to using the manipulated ballot papers as exhibits at the Election Petition Tribunal. The State Publicity Secretary of the PDP, Pastor Kola Oluwawole, who raised the alarm in a release issued in Ado-Ekiti on Sunday, said: "The APC is not new to what is known as 'ibo lehin ibo' (voting after voting), hence

our decision to alert the public." However, the APC, in a reaction by its Head of Media and Publicity, Mr Segun Dipe said the allegation was unfounded. "The PDP is only engaged in panic reaction. That is not possible as all stakeholders including INEC officials and party agents among others all endorsed result sheets at various stages. Our party should be counted out of such a move," Dipe said on the phone. This is as the PDP said it had it on good authority that some unscrupulous INEC officials were already being approached with millions of naira to carry out the devilish plan of voiding PDP votes, after which the APC would demand for ballot recount at the Tribunal.

Keep Arisekola's love for unity alive, Akinjide urges children Sola Adeyemo

Ibadan

inister of State for the M Federal Capital Territory, Jumoke Akinjide has

urged the family members of the late Aare Musulumi of Yorubaland, Alhaji Azeez Arisekola-Alao to continue to live in peace and unity in line with what their late father stood for. The Minister, an Oyo state indigene gave the counsel at the weekend when she paid a condolence visit to the residence of late Deputy President-General of the Nigerian Supreme Council of Islamic Affairs (NSCIA) at the OluwoKekere, Basorun area of Ibadan. She described the late

business mogul as a very unique person, whose type might not be seen in the foreseeable future. To her, Arisekola was "a real father, and I don't know if so soon we could see somebody like him". The occasion was the 8th Day Fidau prayer for the repose of the soul of the exemplary philanthropist, who died in London on June 18 at 69. Present at the condolence visit were, former Mines and Power Minister, Elder Wole Oyelese, Chief Kunle and Erelu Ojora, former member House of Representatives, Hon Moroof Akinwande and a former Deputy Governor of Oyo state, Alhaji Hazim Gbolarumi.

POLITICS MONDAY, JUNE 30, 2014

NEW TELEGRAPH

newtelegraphonline.com/politics

AYODELE OJO

DEPUTY EDITOR, POLITICS

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

We are all mourning. I remember that very day we had a football match to play and all Nigerians were celebrating the Eagles hoping they were going to win, then this act came up. I was airborne then.... Surely we will get through this.

-Goodluck Jonathan

2015: 500 POLITICIANS TO WATCH

PDP, APC test might in Adamawa Ibrahim Abdul YOLA

he Adamawa State political scene is getting busier by the day ahead of the 2015 general election, with leading contenders intensifying moves to outwit one another even as political parties are strategising to emerge victorious at the polls. For now, the two major parties, Peoples Democratic Party (PDP) and the ruling All Progressives Congress (APC) are perfecting plans for the battle of supremacy, tagged “Clash of the titans.” Both parties have employed the strategic plan of snooping on the opponent’s camp with a view to capitalising on their weakness, so as to capture the mandatory majority of ballots when voters file out in the 2015 polls. For instance, the PDP is said to be reinventing itself after the devastating news of Governor Murtala Nyako’s defection to the APC. This and other issues relating to the weight of APC’s incumbency factor in the state are said to be on the front burner. But the PDP chairman in the state, Chief Joel Madaki, while fielding questions from newsmen recently vowed to teach Nyako a bitter lesson.He said, “Nyako will regret dumping the party that made him who he is today”. Already, the PDP has instigated an impeachment move against the governor through the party’s dominated House of Assembly. How Nyako is able to wriggle out of the situation is yet to be seen. It could be recalled that, the PDP was shaken to its roots in the wake of the protracted leadership squabble that engulfed the national hierarchy of the party, which eventually consumed its national chairman and major stabilizer of the party in the state, Dr. Bamanga Tukur. Adamawa PDP was further devastated when former Vice-President Atiku Abubakar dumped the party and opted for APC. Atiku was relied upon as a heavy weight with the financial power to flex muzzles with the incumbent governor. Regarding the sudden political romance that evolved between Atiku and Nyako, political pundits are yet to define the chemistry that made that possible, as the two men were believed to be sworn enemies. Though, several PDP diehard members in the state believe that Atiku may have been deployed to the APC by President Goodluck Jonathan on a mission to “play the spoiler’s game”. Whatever that means, the APC so far is still celebrating such a catch. What however remains curious for now is how Atiku is maintaining a low profile since he joined the APC. His seeming docile posture has elicited all manner of questions prompting some APC stalwarts who claim to be in the know of how the present relationship between Atiku and Nyako developed, to suggest that the two leaders have a secret pact, which is designed to favour the former VP when delegates file out to nominate the party’s presidential candidate. As to how the Nyako/Atiku new romance rattled the PDP significantly and coupled with Tukur’s resignation, it appears the story is chang-

ing for the better. This is largely reflected in how the party recently harvested other heavy weight politicians like Brig.-Gen. Buba Marwa (rtd) and Engr. Markus Gundiri into its fold. Adamawa is a semiNigeria blessed with high profile personalities that most often clash when it comes to political interest. And one unique thing about the Adamawa gladiators is, most of these gentlemen presenting themselves for the governorship position particularly in the PDP are motivated by one reason – they want to show President Jonathan that they are on board for the fight against opponents, with the thinking, that may have one favour or another from the Presidency - business patronage or juicy political appointment. And one attention-grabbing factor in the PDP is that it is over-crowded with gubernatorial aspirants. But shockingly, each of the contenders is pegging his success to Jonathan’s endorsement, forgetting it is far beyond that, just as other pundits and on-the–street opinions on most of the aspirants seem to be the same. Here are some few of the prominent politicians that will do determine the political landscape in the state come 2015. Atiku Abubakar He has over the years proven to be a survivalist, and his never-say-die attitude has defined his politicking. For one, he has had to battle for his political life since he publicly fell out with his former boss and president, Olusegun Obasanjo, when the two were still in power in 2005. Atiku’s differences with Obasanjo were practically transformed into a battle for the PDP, then led by Dr. Ahmadu Ali. In 2007, after numerous legal challenges, he abandoned the PDP, a party he helped to establish, to contest the presidential election under the defunct Action Congress (AC). He lost at the polls to eventual winner, the late Umaru Musa Yar’Adua of the PDP. His effort to return to the PDP was earlier frustrated but he manoeuvred his way back and secured a waiver to contest the presidential primaries. Many have attributed the idea of having a consensus candidate from the North to Atiku. He went further to have the members of the committee populated by his political allies who at one time or the other faced similar fate with him in their struggles within the PDP. Atiku had based his campaign on five key areas: employment generation and wealth creation, power generation and infrastructural development; security, good governance and war against corruption; education, health and social services; and the Niger Delta. Born on November 25, 1946, Atiku was the vice-president of Nigeria from 1999 to 2007. He was an influential member of the PDP. Atiku joined the Customs and Excise Department in 1969. He served in Seme, Kano, Maiduguri, Kaduna, Ibadan and Lagos. He rose to the rank of Deputy Director of Customs. He attended courses in Leadership Management, Drug Enforcement and Control in Finland, Egypt and United States of America. He later went into private business after his retirement, with interests in oil services, agriculture, food and beverages, media, insurance, pharmaceuticals, and education. In the first term of the Obasanjo presidency, nobody got anything in the North without having to go through Atiku, with the exception of Mallam AdCONTINUED ON PAGE 14

14 POLITICS

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Monday, June 30, 2014

2015: 500 POLITICIANS TO WATCH

Atiku, Nyako, Haruna, Tukur

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

amu Ciroma and Lt. Gen T.Y Danjuma who were appointed ministers solely by Obasanjo. Atiku has been a force to reckon with in any political battle. He has defected to the APC to pursue his presidential ambition in 2015. He is expected to ensure the victory of APC in the state in all elections. He may gain the support of the state if he eventually picks the APC presidential election, but it is not clear if he would be able to deliver Adamawa to APC in the legislative and governorship election in 2015. Even as a presidential candidate of AC in 2007 and with the support of then Governor Boni Haruna, he could not secure victory for the defunct party in the governorship election which Nyako won. Murtala Nyako He was elected governor of Adamawa State, in 2007. Prior to then he served in the Navy. In February 1976, General Murtala Muhammad appointed Nyako governor of the newly formed Niger State, which had been split from Sokoto State. He served in this post until December 1977. Later he became the Chief of Naval Operations at the Naval Headquarters, the Flag Officer Commanding the Western Naval Command and the Flag Officer Commanding the Naval Training Command from where he was appointed the Chief of Naval Staff in January 1990. Two years later, he was appointed the Deputy Chief of Defence Staff and retired from the Service in September 1993 with the rank of Vice Admiral. Nyako is the president of the Horticultural Crops Growers Association of Nigeria, practicing Farmers Association of Nigeria and the Apex Farmers Association of Nigeria. He is a patron of numerous farmers’ commodity associations in the country. He is the sole owner of one of the largest dairy farms in the country, Sebore (EPZ) Farms. In addition, Nyako owns the largest mango farm in the country leading to him being known as Baba Mai Mangoro (BMM). In February 2008, the Election Petition Appeal Tribunal upheld nullification of his election, and the House Speaker, James Barka, was sworn in as Acting Governor on February 26, 2008. A fresh election was conducted, and Nyako was re-elected with a landslide victory taking all 21 local government areas, resuming office on April 29, 2008. Soon after, the House initiated moves to impeach Nyako, but was dissuaded after the personal intervention of President Umaru Yar’Adua. The relationship improved, and in March 2010 the Adamawa State House of Assembly passed a vote of confidence in Governor Nyako describing him as a “messiah” to the people of the state. In 2012 after the governor’s first tenure, he ran for a second term and was once again re-elected and also faced similar annulment and hullabaloos. For now only time will tell whether Nyako is sailing a sinking ship or not!? The impeachment move against him may consume the governor. In 2015, Nyako is a major force in the state. Though elected on PDP platform, he had switched camp to APC where he is the leader. As expected, the governor would determine the direction of the APC in 2015 in the state. Already, he had lost control of the Assembly and

Atiku

Nyako

Haruna

Aminu

the choice of his successor may pit him against the former vice president. Boni Haruna Presently the Minister of Youth Development, he was elected deputy governor in April 1999 and became the governor when Obasanjo picked Atiku as his running mate. He was re-elected in April 2003. The 2003 result was contested by the ANPP, which claimed massive electoral fraud. An electoral tribunal declared the election invalid. However, an Appeal Court overruled the judgement and reinstated Haruna. In March 2006, Haruna spoke against a third term for former President Obasanjo, saying most of the prothird term governors were supporting it because they had something to hide.

He repeated his opposition during an April 2006 meeting of 20 state governors. The same month, the Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, said that Haruna was among 31 state governors under investigation by the commission. In February 2007, the Adamawa State House of Assembly served Haruna an impeachment notice for alleged gross misconduct and inability to perform the functions of office as demanded by the 1999 Constitution. Shortly before the April 2007 general election, Haruna switched allegiance to the defunct Action Congress (AC). In April 2009, Haruna said that he was dropping support for Abubakar, due to his failure to listen to advice from

his associates. The split may have been due to Haruna’s decision to return to the PDP, while the former vice president was still remaining with the opposition. In August 2008, he was arrested by the EFCC headed by Farida Waziri over allegations of corruption while serving as governor of the state between 1999 and 2007. His application for bail was refused. In November 2008, an Abuja Federal High Court granted Haruna leave to travel to the United States for medical treatment, adjourning the case until February 2009 for the accused to take a fresh plea following the EFCC’s amended charges. In May 2009, Haruna was re-arraigned by the Federal Government over alleged money laundering involv-

POLITICS

Sanctity of Truth

Monday, June 30, 2014

2015: 500 POLITICIANS TO WATCH

battle for the soul of Adamawa

He is one of the major stakeholders who would influence decision in Adamawa in the 2015 election.

Tukur

Fintiri

ing N100 million, after the discovery of new evidence related to his period in office as governor. In August 2009, the EFCC brought a 28-count charge against him for forgery and illegal movement of about N150 million to an unknown destination. In October 2009, the EFCC filed 28 amended charges against Haruna and three others. In November 2009, the EFCC opposed an application by Haruna to again obtain travel documents for medical treatment in the United States. Haruna competed in the April 9, 2011 election for the Adamawa North Senatorial District on the Action Congress of Nigeria (ACN) platform. Bindo Jibrilla (PDP) defeated him, polling 75,112 votes to Haruna’s 70,890 votes. However as things unfold, Boni has since switched over to PDP and became minister. He is the leader of the party in the state since the governor had defected to the APC. He is expected to lead PDP’s battle against APC and

Ahmadu Umaru Fintiri The Speaker of Adamawa State House of Assembly, Hon. Fintiri has left an indelible mark in the state for spearheading the independence of the state assembly that had been hitherto caged by the executive arm of the government before he came on board. Fintiri’s courageous fight led to the independence of the legislative arm of the government that used to be known as a rubber stamp of state governors that have been dictating the line of activities of the lawmakers. The Assembly had to cross many hurdles under Fintiri’s leadership to regain its dignity in carrying out its constitutional duty of check and balance in the system. The Adamawa Assembly came to limelight in the nation’s political landscape in 2008 under James Shuaibu Barka, when 22 out of the 25 lawmakers served Governor Nyako a controversial impeachment notice, a first of its type in the present dispensation. During the impeachment fracas that nearly led to a state of anarchy, the national leadership of the PDP waded into the crisis and it was settled as a family issue by saving the governor from being disgraced out of office. Since then, the relationship between the legislative arm of government and the executive became that of cat and mouse, as the executive continuously wanted to have its way on who becomes the leader of the second arm of the government. Fintiri, it could be recalled, had once been an acting governor after Nyako’s election was annulled. With the impeachment treat dangling over Nyako and his deputy, James Ngilari, Fintiri may end up being the governor. If the impeachment sails through, the Speaker would be a major force in the build up to the 2015 elections.

Bent

Ardo

mobilise support for the PDP in the 2015 elections. Jibril Aminu The former PDP linkman in the state was born August 1939 and he is a professor of cardiology. He was Nigerian Ambassador to the United States (1999-2003) and was elected senator for Adamawa Central district between 2003 and 2007. He is a member of the PDP. Aminu was a Consultant in Medicine, Senior Lecturer and Sub-Dean, Clinical Studies at the University of Ibadan Medical School (1973–1975), and Executive Secretary of the National Universities Commission (1975–1979). He was Visiting Professor at Howard University College of Medicine in Washington DC (1979–1980) and ViceChancellor of the University of Maiduguri, 1980-1985. He was also Professor of Medicine at the University of Maiduguri (1979–1995).

Aminu was Minister of Education and then Minister of Petroleum and Mineral Resources (1989–1992). He was elected a delegate to the National Constitutional Conference (1994–1995). From 1999 to 2003. Aminu was elected to the Senate for Adamawa Central in 2003 and re-elected in 2007. As a senator, Aminu was a member of committees on Foreign Affairs, Education, Air Force and Health.

Already, he had lost control of the Assembly and the choice of his successor may pit him against the former vice president

Bamanga Tukur BMT as he is popularly referred to hails from Adamawa North-East. He was born on September, 15, 1935. He was governor of old Gongola State between October 1983 and December 1983. He also served as Minister for Industries and Chief Executive Officer, Nigerian Ports Authority (NPA) before his election as PDP National Chairman, March 24, 2012. Tukur, Tafidan Adamawa, was also the Executive President of the African Business Roundtable and Chairman of the NEPAD Business Group. His reign as PDP national chairman was turbulent. The party was factionalised, especially with the stiff opposition he faced from the governors, some stakeholders and members of the party’s National Working Committee (NWC). He was forced to resign. Even, out of office, Tukur still has his followers in the state. He is a major force to reckon with in the state and in 2015. Binta Masi Garba On April 30 this year, Garba was elected chairman of Adamawa State chapter of the APC during the party’s state congress held at Ribadu Square in Yola. She emerged through consensus arrangement after her two male opponents; Mr. P.P Elisha and Rev. Iliya CONTINUED ON PAGE 16

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Monday, June 30, 2014

2015: 500 POLITICIANS TO WATCH

Will Madaki, Marwa, Fintiri, Aminu, Gunderi deliver Adamawa for PDP? CO N T I N U E D F R O M PA G E 1 5

Agowa, voluntarily withdrew from the contest few hours before the election. Her election was endorsed through a voice vote in line with the provision of the party’s constitution. By her feat, Binta has become the first female politician to lead a state chapter of a registered political party in Nigeria, thereby portraying APC as a gender-sensitive party. The victory of the three-time member of the House of Representatives is not surprising to some pundits because of her past electoral capabilities. She is the first politician who was elected for three consecutive terms in the House of Representatives from two different states of Kaduna and Adamawa. She was elected as member representing Kaduna South Federal Constituency on the platform of the defunct All Nigeria People’s Party (ANPP) between 1999 and 2007. When she later returned to Adamawa, her state of birth, she was again elected to represent Michika/Madagali Federal Constituency between 2007 and 2011. Since her election, the former legislator has been building bridges in APC to consolidate the unity among various camps and making peace overtures to aggrieved members. Binta, nicknamed ‘the Iron Lady’ in political circles, is said to have demonstrated a rare fighting spirit and commitment in the pursuit of her goals and ideals as evident in the struggle for women empowerment and support for girl-child education during her days in the National Assembly. While in the House, she was opportuned to head several committees, including Infrastructural Development; Appropriation; Child Development; Anti Corruption, Ethics and Values; Inter Parliamentary Relations and Women Affairs. At the regional level, she served as the vice president, Commonwealth Women Parliamentarians (Africa Region). She is one of the three delegates nominated by Adamawa State government to the on-going National Conference. In recognition of her leadership qualities, Binta was given Dame Publication Award, Nigerian Women Award, Jaycees International Young Persons Role Model Award, Action-Aid Outstanding Role Model Award because of her contributions to girl-child education in Nigeria, and National Association of Nigerian Students Award among others. She was awarded a doctorate degree by Smith Christian University in Miami, Florida in the United States for her outstanding contribution to Christian ministry. Born to the family of Corporal Garba Tunba (rtd) and Hajiya Hauwa Masi Garba Tunba, Binta obtained Higher National Diploma (HND) in Marketing from Kaduna Polytechnic. She started her working career with New Nigeria Newspapers before she resigned in 1998 to join politics. She is currently the Managing Director, Chief Executive of BGT International Limited, a private business firm in Nigeria. In 2015, she is the rallying point of the APC in Adamawa.

Marwa

Gunduri

Madaki

Zwingina

Buba Marwa An officer and a gentleman, by every word of it, he is popular among the down-trodden because wherever he goes, he promotes people-oriented programmes. Marwa’s political stints cut across every facet of human endeavour. Born on September 9, 2013, in Kaduna, he had his primary education in Enugu, Zaria, Abeokuta and Lagos between 1960 and 1965. He proceeded to the Nigerian Military School, Zaria, from 1966 to 1970, afterwards the Nigerian Defence Academy, from 1970 to 1973. Marwa continued his educational pursuit at the University of Pittsburgh, the United States of America, from 1983 to 1985; and later Harvard University, USA, from 1985 to 1986. During this period, he acquired a number

of qualifications, among which are: Master of Public and International Affairs, Master of Public Administration, Leadership and Organisational Diploma and Graduate Certificate in International Security Studies. While in the military, as a true soldier, bonded by military professionalism, loyalty, respect and mutual understanding, Marwa set the pace as being the first student in the history of the Junior Staff College Course to be awarded a ‘B’ grade and the only B- grader of his set. He came first in the: Lieutenant to captain practical examination, captain to major written/ staff college qualifying examination, regimental signal officers’ course, and senior staff college course with excellent grades. He also grew steadily in the mili-

tary. From 1977 to 1979, Marwa was the Aide-de-camp to Gen. TY Danjuma. In 1988, he became the military attaché in the Nigerian Embassy, Washington DC, until 1990. In June 1990, he became the military administrator of Borno State (the present Borno and Yobe states), until 1992. He was the defence attaché, Mission of Nigeria to the United Nations in New York from 1993 to 1996. Marwa was the military administrator of Lagos State from 1996 to 1999. His military service medals include: Forces Service Star, Meritorious Service Star and Distinguished Service Star. Reports say that as the military administrator of Borno State, he made enviable marks on every sector of the state’s economy. In the healthcare sector, state-wide development of the Bor-

POLITICS 17

Sanctity of Truth

Monday, June 30, 2014

2015: 500 POLITICIANS TO WATCH beneficiaries of Governor Haruna’s goodwill. As PDP state chairman, he has considerable influence on the party. Since there is no governor as the leader of the party, he has the influence to determine who gets what in the party in 2015 elections. It is not certain if he will contest for the governorship again. His recent frequent visits to Abuja is making people believe he has governorship ambition, this is because the agitation for the next governor to come from Adamawa Central can be an advantage for him; though he lacks political network and financial resources.

Jada

Girei

no State primary healthcare scheme and construction and full equipping of seven general hospitals, in addition to the construction of doctors and staff quarters to ensure that doctors live within the hospitals. He upgraded 17 comprehensive health centres to general hospitals, bringing the total number of general hospitals to 24, one in each LGA. He was the governorship candidate of the defunct Congress for Progressive Change (CPC) in 2011. Recently, he defected from the APC to the PDP. Marwa is a governorship hopeful in 2015. He is expected to galvanise support for the PDP across the state in all the elections in 2015. Markus Natina Gunduri Engr. Gundiri was Commissioner of Agriculture, Water Resources and Rural Development between 1978 and 1981 in the defunct Gongola State. During that period, he designed, constructed and commissioned over 500 isolated rural water supply projects. Also to his credit are four regional water supply projects meant to provide potable water for 20 communities with an estimated population of 200,000 in

Jonathan Zwingina He is a former senator who represented Adamawa South Senatorial District. He came to limelight in 1983, when he testified as a witness in the Wilson Sabiya/Bamanga Tukur governorship tussle in court. Since then, people believed he had political ambitions. Zwingina is very articulate and well educated. Within the fold of the contenders, he is among the few that are yet to show seriousness in the contest. He is yet to establish offices, and before now Zwingina had the financial muscles to pursue his ambition. Many believe that he may enter the race to capitalise on the minority/majority issue, but such issues have never yielded fruits in Adamawa politics. To Zwingina’s disadvantage is the fact that there are issues that will stand as a great deal of setback to any gubernatorial ambitions he may have. The Paul Wanpana commission of enquiry found some skeletons in his cupboard when he was Commissioner of Water Resources in Adamawa State. The celebrated N50 million bribe scandal in the Senate in which he was fingered is another issue against him. Zwingina was an ardent supporter of the third term agenda, which infuriated many people; this led to attacks on his campaign offices throughout Adamawa State some time ago.

Bobbo

Tukur (Bello)

addition to over 250 kilometres of rural feeder roads. The former Action Congress of Nigeria (ACN) governorship candidate was appointed Deputy Director and Director in charge of all Federal Government dams and reservoirs under the Federal Ministry of Water Resources between 1999 and 2009. During this period, he was in charge of monitoring of all on-going projects in the ministry until his retirement in line with the recent Federal Government policy. He superintended over the design and construction of the Gurara, Galma, Owiwi, Owena, Kontagora and other dam projects located in 22 states of the federation for water supply, irrigation and fisheries among other national assignments given to him Though in the last governorship election, Gunduri tried to gain grounds, he still has hurdles ahead of him. He is seen as Haruna’s stooge and a ‘fanatical’ Christian candidate. It is said that if he becomes governor, Haruna, his godfather will take over the running of the government. About 98 per cent of the members of Gunduri campaign team are of one tribe and religion.

Pundits argue that having decamped to PDP, it’s a clear indication that Gunduri has no political structure and cannot take independent decisions as a governor. Majority of the members of his campaign team cannot deliver their polling units. Joel Madaki Perhaps the oldest politician amongst the contenders; he was elected a ward councillor during the 19761977 Local Government Reforms and a member of the state House of Assembly in 1979. He was Commissioner for Local Government in the Abubakar Barde administration. Madaki is a good planner, and to his plus, people see him as someone that is frank and straightforward in tackling issues. For a long time, since 1999, he was the state chairman of the PDP until the Emmanuel Iwuanyanwu PDP Reconciliation Committee forced him to resign, thus, halting his use of the PDP structures in oiling his governorship campaign then. Madaki who recently bounced back as PDP chairman after Tukur fired Nyako’s camp led by Umaru Mijinyawa Kugama, was among the greatest

Muhammad Koiranga Jada Jada came to limelight in the 1983 governorship campaign, when he became a ‘trouble shooter’ playing the spoiler to Tukur’s governorship ambition. Walin Ganye had to intervene and settled the issue; this formed the basis of Ganye being nicknamed Kalu, from the famous Justice Kalu of Borno, and Jada was compensated with a position of special assistant to Tukur. To Koiranga’s disadvantage the masses see him as a candidate ‘for sale’ to the highest bidder; because he has shown interest in contesting every governorship election in the state, but never participated in any of the party primaries, and to prove this, recently a contender was having a meeting with his followers, but out of the blue, Koiranga appeared and attended the meeting, surprising many people. His chances in the governorship contest are very slim. Dahiru Bobbo He is among technocrats and seasoned administrators of his generation, and has been in public service since the early 70’s, from registrar, University of Maiduguri to Secretary to the State Government of former Gongola State. He was once elected senator under the defunct United Nigeria Congress Party (UNCP) and of recent contested senatorial seat under Labour Party (LP). His age might seriously work against him, and observers are of the opinion that he is a man in a dilemma of loyalty; because he was CONTINUED ON PAGE 18

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2015: 500 POLITICIANS TO WATCH

Garba faces PDP’s onslaught CO N T I N U E D F R O M PA G E 1 7

brought to the position of Director General, National Boundaries Commission by Atiku. His generosity will give him an edge over the other contenders. Bobbo is presently in the APC. Abubakar Girei The long forgotten former senator came to limelight when he contested for the Senate under the now defunct UNCP but lost to his in-law Dahiru Bobbo. In 1999, he was elected senator on the PDP platform. In 2003, he slugged it out with Haruna in the PDP governorship primaries; but Senator Girei was only able to get one vote. He instantly knelt down at the venue of the party primaries and made a public apology; asking Haruna to plead for forgiveness on his behalf from the then vice president, Atiku. This marked the beginning of his political predicaments; the general opinion is that Girei is in the race just to gain relevance. No doubt, he is a politician to watch out for in PDP for the 2015 elections. Kasim Jidda Jidda is relatively unknown within Adamawa. He was the former Managing Director of AfriBank. On paper he has everything it takes to be a governor, but he lacks the political structure and has found himself amidst a political grouping that is complex and very calculating. Aliyu Kama He was a military Governor of Plateau State during the IBB days. Many believe that his coming into the race is probably motivated by Marwa’s entry into politics. His chances in the race are slim because financial capacity and political structures are his major constraints, even being a former military governor does not confer an advantage on him. Bello Tukur One-time deputy governor to Boni Haruna and former Chief of Staff to Governor Nyako, Tukur is presently representing Adamawa Central at the National Assembly, and before the recent political happenings in the state, the senator possessed a great deal of political influence in his constituency of Fufore. He has undergone leadership apprenticeship under a proactive and goal seeking minister; Haruna. His greatest weak point however, is that he is confined only to his political constituency. His adversaries say this makes Tukur’s candidature unappealing to the entire state, and therefore Tukur has a herculean task of stretching his hands outside his constituency to win support. He may seek re-election to the Senate in 2015. Adamu Mu’azu Modibbo Modibbo has been showing interest in politics since his school days as a student union president. In 1983, he was among the ‘Rambo boys’ of the famous Kontiki Research of the Bamanga Tukur Campaign Office. Mua’zu’s recent political moves can best be described as full of controversies and comics – he will go down in history as a governorship aspirant that emerged from a party primary election that lasted only two hours. This was necessitated when his opponents went to court to stop the primaries: Mu’azu quickly organised the primaries and emerged in 2003 as the All Nigeria People’s Party (ANPP)

Garba

governorship candidate. Another controversial moment was his decamping to PDP. The day he was to decamp to the PDP, Muhammadu Buhari reportedly phoned him to confirm the rumours, Mu’azu denied making such a move, but declared for the PDP a few hours later. Buhari was shocked to the extent that he said: “politics is not for people like me.” In the 2003 governorship election, Modibbo was only able to win two local government areas of the 21 local government areas in Adamawa State. Since then his political fortunes have been diminishing – because he only appears when election time approaches. His membership of the PDP has put him at poles apart with so many of his followers; and his one-man approach to issues would be a serious blow to his governorship ambition. Umar Ardo Many are stunned by his simplicity and intimidating profile of achievements as he generally takes people through the realms of wild fantasy and dreams to concrete reality with remarkable ease. Dr. Ardo was a former history lecturer at the Nigerian Defence Academy in Kaduna, a Masters Degree holder of Political Psychology and Leadership Development at the prestigious Walden University, USA. Ardo holds a PhD in Political History from the University of Maiduguri. Ardo, is a practicing politician of several years who fits any position that needs decisive action. He has courage in abundance, and so much understands human relations and without failing, always galvanize support, goodwill and understanding from the general public. He has been a dogged fighter in PDP, though he lacks the support of the elite even as his one-man approach to issues would be a serious blow to his governorship ambition. As a practical politician, he challenged an iniquitous establishment in his state of Adamawa and today he remains a very popular politician in

Ngilari

Most of these gentlemen presenting themselves for the governorship position particularly in the PDP are motivated by one reason – they want to show President Jonathan that they are on board for the fight that state. Not unexpectedly, in the course of this long fight against the establishment he has made influential opponents in the party, especially at the highest level. But being a man of strong intellect and conspicuous energies, Ardo has nonetheless remained the most popular choice of the ordinary floor members of the party in the constituencies. His candidacy, which is fully supported by the masses, had long acquired a momentum of its own. ‘Adamawa sai Doctor’ is today the political phrase of communities across the state, while the elite on the other hand maintain their stand of “No To Doctor!” Zainab Baba Kwonchi Kwonchi was Commissioner for Health in Nyako’s government. A medical doctor, she is from the Central Senatorial District. She was the first and only female that contested governorship election in the state. She claimed that some people, mostly men, asked her to contest. However, her biggest hurdle is finance. A strong supporter of Marwa, there were indications and unconfirmed reports that she could step down and support Marwa having decamped to the PDP.

Grace Folashade Bent Better referred to as “Goggo Grace”, she was born October 25, 1960, and was elected senator in April 2007 on the PDP platform to represent Adamawa South district. At the University of Calabar, she was a students’ union activist. She received a BA (Hons) in English and Literacy Studies in 1998, and an MSc in Political Science and International Relations in 2003. Before entering the Senate, Bent was political adviser to the then PDP National Chairman, Audu Ogbeh, Assistance Producer for NTA Kaduna, and Managing Director of Jack Ventures Nigeria. She has published a book titled Women in Inter Ethnic Marriages in Nigeria. She was elected into the Senate in 2007 and became chairperson of Committee on Environment. Bent competed in the PDP primaries to be the April 2011 candidate for Adamawa South, but lost to Ahmed Hassan Barata. He received 738 votes to her 406 votes. Bent, who was said to have been favoured by the PDP party leadership, later claimed that she had won a rerun primary. While the question was being reviewed, a judge ordered the Independent National Electoral Commission (INEC) to remove Barata’s name from the list of candidates and replace it with Bent. Bent’s claim was later rejected by the INEC, by the Federal High Court, Abuja and by the PDP’s counsel. She is still a force to reckon with in the state ahead of 2015 elections. James Ngilari He is the deputy governor of the state. Ngilari who is facing impeachment threat from the State House of Assembly is a major stakeholder who refused to defect along with Nyako to the APC. Initially, he was being tipped as a likely successor to Nyako until recently when other political bigwigs defected to the party. He may still throw his hat into the governorship contest in 2015.

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Attracting bankable cash from the populace

new report by MasterCard, a technology company in the payment industry, has shown reasons for many Nigerians not having bank accounts. The report profiled the financially excluded and underserved in Nigeria and five other emerging markets (Egypt, India, Indonesia, Vietnam, and Philippines), providing insights into how to bring them into the economic mainstream. The research was conducted in India, Indonesia, Vietnam, Philippines, Egypt, and Nigeria with the financially excluded (those without access to the formal banking facilities) and the underserved (those without access to any form of electronic payment). In Nigeria, the average age of the financially underserved and excluded is 28 years old, according to the report, which adds that 91 per cent of this group have achieved secondary education or above; and 64 percent hold a job. The report stated that the average family household income of Nigerian respondents was $200 a month. This, according to the research, results in lower disposable income, leading 41 per cent of the group to cite “not having enough money” as the main reason for not having a formal bank account. Other reasons were that they “don’t want or need” a bank account (17 per cent) or they felt that they needed cash on a daily basis (four per cent).

The report further stated, “Both the financially excluded and financially underserved still live within a cash economy. Instead of benefitting from bank account features like direct debits, internet banking or buying discounted goods online, the bulk of the excluded and underserved Nigerians use cash to pay for everyday items such as telecommunication (93 per cent), clothing (92 per cent), transportation (91 per cent) and food (73 per cent). “Though cash as a payment method remains prevalent, there are strong concerns about the safety and security in carrying cash. Fifty six per cent said that the main benefit of a bank account is that it is safer than keeping cash at home. Another benefit of banks is the interest that they offer.” It is evident that there is more cash outside the banking system than bankable funds. Apart from the reasons adduced above, other closely intertwined but very cogent reasons for this development include the fact that the process of opening bank accounts, paying money and withdrawing funds is very tedious and time- wasting, which is usually not very convenient for most people, hence the tendency to keep money at home. Closely linked to this is the fact that, in several places cash is mainly accepted as the mode of payment as POS are largely not available. Besides, many people who are into buying and selling or trad-

ing require readily available cash to transact urgent business on the basis of first come-first serve. However, the process of withdrawing cash is not only slow, but the new Central Bank of Nigeria (CBN) policy has put a limit on the amount an individual or an organization can withdraw in a day. Although, the CBN initiative is informed by attempt to check corruption and money laundering, but there are emergency situations that require huge financial requirements, which the prevailing banking policy is a bulwark against. Furthermore, when people visit the ATM machines on several occasions they are unable to withdraw cash as a result of power failure or network problem. This recurring frustrating experience serves as a discouragement for banking cash, and in some other instances, bank accounts are debited for cash not actually withdrawn, and making amends is sometimes a tedious process. It also has led several people to keep their money at home instead of keeping it in the bank, while alternatively some have joined the cooperative and thrift society or in some cases traditional communal moving saving schemes. Apart from the foregoing, people are very skeptical about keeping their cash in banks because of the massive frauds leading to the liquidation of banks over the years, this is coupled with poor customer relations services. If this trend must

change, there should be genuine corporate governance operation in banks. A good place to start would be with the customer services relations which, to put it mildly, needs a tremendous overhaul. The banking policies must be holistically reexamined with a view of making them more people friendly and making banking transactions to be done within a few minutes. The bitter-truth is that banks must begin to see that they have an important role in creating an environment where the ordinary citizen with good entrepreneurial ideas can be actively encouraged. That would go a long way in creating sustainable enterprises that would also offer job opportunities for a lot of Nigerians. In addition, the banks must carry out comprehensive enlightenment campaigns, especially in the rural areas and also urban centres, telling the people about the benefits of banking. The simple truth is that current strategies are not effective beyond generating profits for the banks. The consequence is that the banks are perceived negatively by a lot of the populace. That common notion that banks are only concerned about making profits at the expense of the customers must be drastically changed. The challenges of ethics and professionalism must be taken into cognisance in the areas of handling complaints and disputes and gross insider abuses.

GABRIEL AKINADEWO Managing Director/Editor-in-Chief FELIX OGUEJIOFOR ABUGU Deputy Managing Director/DEIC SULEIMAN BISALLA Managing Editor, North YEMI AJAYI 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 GEOFFREY EKENNA News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

Sanctity of Truth

OPINION Too many Nigerians are in darkness Doris I. Mangrum

igeria is one of the most populous countries in Africa. With its tropical climate, it benefits from lush vegetation and a wide range of crops that produce all year round. There is a bright aura over the rich oil reserve and an alarming darkness over the dearth of energy in the land. So vast is the energy poverty problem that over 100,000 Nigerians are dying annually from smoke coming from firewood use. The energy poverty line is wide with rural areas being the hardest hit. The situation is dark, it is dire, and it is desperate. Far too many of Nigeria’s citizens live with no real support for viable energy, there are over 600,000 million people in Africa and 140 million in Nigeria are without electricity or other energy provision. Africa has been called the Motherland, the Birthplace of Humanity, Mama Africa. It has

also been called the Dark Continent because of the mystery that surrounded it back when the Europeans visited. Today it could be called the Dark Continent because so many of its citizens live in TOTAL DARKNESS. Recently, OMOBABA posted an editorial cartoon depicting the magnitude of the problem. (pictured below) Although it was intended to be sarcastic, the reality of the drawing cannot be overlooked. The irony of the hand held lantern should not be ignored. 30 million versus 140 million – how do we respond? The very obvious response is - the need for power projects utilizing solar and renewable energy is great and the need must be met now. This is clearly a time like no other for the future of Nigeria. Juxtaposed against the backdrop of the country’s resource vitality is a distinctive atmosphere that hovers over the dearth of its energy power. There is no better time than right now to shift the paradigm.

Monday, June 30, 2014

This urgency places Nigeria in a point of pain. Points of pain occur around things that matter and are great motivators of change. Nigeria’s need for renewable energy is so great that it hurts to think about it. There is a reality that is the catch-22 of life. We are rarely motivated to change unless we are uncomfortable, threatened, or fed up with the status quo. Nigeria is primed for solar energy with no side effects - no fires - no pollution. As Nigeria prepares to make this leap into the solar world, the evolution itself will be remarkable. The renewable energy transformation that the country will experience will extend to provide a tremendous surge in job opportunities, a magical overflow of community possibilities and an amazing improvement – literally - from the lantern to solar light of the land – fueled by renewable energy. • Doris I. Mangrum (dorismsaid@aol.com) Editorial Columnist 1-925-354-6097

Fayose, Ekiti and Politics of South-West Matthew Adejoh

eter Ayodele Fayose, the Governor-Elect of Ekiti State, is an enigma in Nigerian politics. Nobody seems to understand his style and strategies. Until the declaration of the results of the governorship election held the previous Saturday, that is June 21, in which he was declared winner, by a large margin, it was confusing whether, indeed, this ebullient politician was truly a man of the people or merely a self-conceited rabble-rouser. Compared to the quiet, soft-spoken and shy-looking incumbent Governor of the State, Dr. Kayode Fayemi, Fayose appears loud and too much of an extrovert. He exhumes so much confidence that when he speaks, he is easily taken for an arrogant person. Yet, underneath Fayose’s outward appearance is a caring, humane and generous personality, attributes once tasted by the people of Ekiti State, but only for a few years, after his victory over sitting Governor Niyi Adebayo, at the election of April 19, 2003. Between 2003 and 2006 when Fayose was politically manipulated out of office, the people found in him a unique brand of compassion and commitment to service, never experienced in the state. Like old lovers, Fayose and the people of Ekiti State have been searching for one another. And now, they have been re-united. Governor–Elect Fayose’s second coming is also the return of the Peoples Democratic Party (PDP) to Ekiti State. The major infrastructure and social development, by which Fayose endeared himself to the people of Ekiti, was achieved on the platform of the PDP, deploying the party’s po-

litical expertise, and in keeping with its manifesto. Therefore, a substantial part of the credit of Fayose’s achievements in Ekiti State went to the party on which platform he served. Which explains why the PDP has been firmly entrenched in Ekiti State for a long time, in spite of the incursion of the All Progressives Congress (APC) into States of the South-West Zone. Apart from Fayose’s past record of excellent performance in Ekiti State, his victory was made easy by the woeful, if not total lack of performance of the APC Government of Fayemi. Like other APC States in the South-West, the Fayemi administration operates more as a propaganda machinery, rather than one devoted to practical efforts and concrete projects. The reason for the poor performance of the Fayemi administration in Ekiti State is that it lacks the necessary framework and policies for service delivery to the people. Not only is the APC without men and women of vision and commitment, the party lacks unity and focus, thereby making it easy for the PDP and a formidable politician like Fayose to reclaim the State. It should be noted that the bulk of members who joined the APC were frustrated members of the PDP who could not actualise their selfish interests in the party. In preparing for the Ekiti governorship election, the superior experience and political skills of the PDP were amply demonstrated, especially in the selection of the party’s flag bearer. Out of over 26 aspirants who contested the PDP primaries for the position, most of whom were eminently qualified, the party, under the supervision of former Rivers State Governor, Dr. Peter Odili, the party chosee Fayose as its candidate. Naturally, some of the

participants protested but, again, the party was able to calm frayed nerves and reconcile its members for a unified contest against the APC candidate. It was a clear demonstration of the advantage of experience, which the PDP has over all other political parties in the country. The Ekiti governorship election has been universally declared as transparent, free and fair. Even the opposition parties, including the APC and Labour parties, have accepted this position. The defeated incumbent governor, Kayode Fayemi, has conceded defeat and congratulated Fayose. There is not a single protest or threat of court action against the conduct or results of the election. The credit goes to President Goodluck Ebele Jonathan, whose electoral reforms are already yielding fruits. Compared to what elections in Nigeria used to be in the past, the Ekiti case has shown that we are, indeed, close to the Promised Land, as far as elections are concerned. The President’s proclamation of “one man, one vote - one woman, one vote and one youth, one vote”, is now almost a reality. Over the years, the Independent National Electoral Commission (INEC) has been the proverbial whipping boy in all matters relating to election failures. All that is now changing! In the Ekiti election, accusations of late arrival of voting materials were virtually non-existent, nor were there charges of bias or collusion against INEC officials. Indeed, Ekiti is the best in INEC’s performance in the conduct of elections in Nigeria. Professor Attahiru Jega and his officials must be commended for their roles in the success of the election in Ekiti State. Of course, the conduct of the Ekiti

election was successful because there was adequate security. The nation’s security agencies, the military, police and civil defence organizations, were adequately deployed to protect life and property during the election. Indeed, the security arrangements were so impressive that the United States Mission in Nigeria had to issue a statement, commending INEC, the nation’s security agencies and other electoral stakeholders for their preparations and logistics. Prominent politicians, including state governors and the chairman of the Board of Trustees of the PDP, Chief Tony Anenih, also commended the federal government, INEC and the security forces for the peaceful conduct of the elections in Ekiti State. While all those responsible for the success of the Ekiti election deserve commendation, the incumbent governor of the state, Dr. Fayemi, must be applauded for his unusual courage in accepting defeat and pledging to work with the winner in the interest of the people of Ekiti State. Governor-Elect, Peter Ayodele Fayose has proved himself to be a popular and truly grassroots politicians, highly loved in Ekiti land and as one of the most charismatic leaders in Nigeria. No other person could have generated the kind of excitement and mobilization experienced in Ekiti State during the election. The Ekiti election results, with the PDP winning in all the 16 Local Government Areas of the State, are a pointer to what will happen in subsequent elections in Nigeria. The results also show a new trend in the politics of the SouthWest geo-political zone. I dare say the next stop will be the State of Osun! • Adejoh contributed this piece from Abuja.

INVESTIGATION Monday, JUNE 30, 2014

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ISIOMA MADIKE Editor, INVESTIGATION

isioma.madike@newtelegraphonline.com isiomamadike69@gmail.com

Fish farming: Salvaging Nigeria’s unemployment crisis O behi Daniel’s visit to a fish farm at Ikorodu area of Lagos State in 2011 changed his perception about employment. He was an unemployed graduate of Agricultural Education from the College of Education, Ekiadolor, Edo State at the time. He had been unemployed since his graduation in 2005, and had once contemplated travelling abroad for the proverbial greener pasture. At the Ikorodu farm, Daniel encountered the owner, who, interestingly, feeds his fishes from juvenile to standard table size with local feeds about four times a day. Within a period of six to seven months, the man harvested nothing less than 1kg to 2kg of fishes. What surprised Daniel was the fact that the man used local feeds all-through, which he confirmed from some of his staff. Daniel was so shocked because it appeared hard to believe that catfish farmers could use local feedstuff all through without the foreign feed. “I consulted the man to give me the

A large earthen pond. Inset: Adult catfish

Aquaculture is fast gaining acceptability among Nigerians as a top employment and wealth-creating sub-sector. ISIOMA MADIKE writes on the emergence of fish-farming as big business in Nigeria

formula he used, but he said no. This made me to sit down, think and do some more research on how to use my little savings and knowledge to start something in that direction. Before then, my earlier knowledge of fish farming indicated that feeding alone takes up to 70 per cent of the investment, which was scary,” Daniel said. With this new thinking, Daniel started his little fish farm by stocking 100 pieces of post fingerlings in a 7 by 4ft earthen pond at his Agege residence. He fed the fish with coppens, twice a day, by the time he weighed them, what he saw was amazing; they weighed between 150-200grams. He was happy that his idea had worked. “So, I put more effort. The second month, I fed them with six

bags and spent only N17, 000 in milling local feed for the third and fourth months ,” Daniel recounted. Today, Daniel has imparted many aspiring agricultural entrepreneurs in his locality. He sees this move as one easy solution to help alleviate the problem of unemployment in the country. He also advices government to create an enabling environments for jobless youths and students to set up small scale fish fingerlings producing businesses like the way he started. This is because, Catfish fingerlings production, according to him, requires low set-up capital and grows rapidly within a short period, to generate quick and high turnover. “It is simple to set up a fish pond in your own backyard and it requires very little

initial capital,” Daniel confirmed with a sense of fulfilment. The hatchery does not, in the words of other experts, need large expanse of land to succeed. “If there is already available two room size of water and land, then one does not have problem starting this project. With less than N180, 000, one can set up a small-scale fish fingerlings producing business. “What one requires is a hatching pond of 12 by 4ft space, which can be constructed into a shape of box by any experienced carpenter and plumber with six planks, nails and 3×2 woods then lay tarpaulin material inside the box, put clean water and start your hatchery activities,” one fish farmer, who does not want his name in print, said. Currently, in Nigeria, catfish is in high demand due to its good taste, high protein content, medicinal characteristics and its appeal to a lot of people. CONTINUED ON PAGE 22

22 INVESTIGATION

Sanctity of Truth

Monday, June 30, 2014

We are fishing to feed Nigerians –Farmers

Obasanjo CONTINUED FR O M PAGE 21

This has made the market potential very huge. It is available for sale in the open markets, hotels beer parlours and various relaxation joints. Interestingly, in parties, only special guests enjoy this, because of the high price. At present, fish farming is being used to address the unpleasant unemployment crisis the country has found itself. Setting up a fish pond can be very easy Indeed, setting up a fish pond can be very easy and feasible with the right tools, materials and of course -technical know-how. The most cost effective way to construct a fish pond is to make one locally at one’s own backyard; the digging of the pond and every other necessary steps can be done by the person involved and his friends. There would be no need to pay for extra manual labour. Today, aquaculture is fast gaining acceptability among Nigerians. Incidentally, those, who have indicated interest in self-employment, have actually embraced fish farming long before now. For instance, Remi Michael, unemployed graduate of history from the University of Ilorin decided to go into fish farming after several years of searching for the unavailable jobs. But, little did he know that he was starting something that would stand as a practical response to the ravaging unemployment crisis in the land. That decision was, however, a tough one since he did not possess the financial outlay he had thought was needed to start some-

thing on his own. Michael had confided in his banker friend his intention to go into small scale business since, according to him, a job was not forthcoming. His friend, who along with other friends were sustaining him bought into the idea and requested Michael to immediately make inquiries on the nature and amount required for any business he had in mind. After several consultation and contemplation, Michael was advised to go into catfish farming. Thereafter, he embarked on an intensive course in aquaculture organised by some private individuals that had done extensive research on such projects. That was in 2009. Today, barely five years after, Michael is, continually grateful to Makinde, his friend, “who pointed me in the right direction.” He certainly has every reason to be. Not only is his fish cropping highly successful, his farm, Berems Fisheries, located in the heart of Ilorin, the Kwara State capital, which effectively took off with 3, 000 fingerlings, currently boasts of 40 concrete fish tanks, each enclosing 1, 000 catfish at various levels of growth. This is aside the 20, 000 fingerlings in his hatchery. Even at that, plans he says, are underway to expand the fish farm as a way of coping with local demand, which Michael insists is hard to meet. “We also get orders from Abuja, but we hardly can meet these demands. However, because we are fishing to feed

Adesina

Fashola

Suswam

Daniel

Nigerians and make them healthy, we are trying to approach the banks to possibly assist us in our expansion plans,” Michael further explained. But, he obviously failed to state how financially rewarding the business has been. Yet, Michael and Daniel are just few of the several thousands of catfish farmers in Nigeria today. These brands of farmers are commonly found in major cities like Lagos, Ogun, Plateau, Benue and Kaduna states among others. In Kwara where Berems is currently holding sway, are others like Kadi fisheries located at Igbejila Airport Road, Ilorin as well as Junio fisheries, which has its farm at Gaa Akanbi Road, also in Ilorin.

But, there was a big challenge ahead, which he never anticipated. The first of such challenge Fakolade encountered had to do with overstocking. He also experienced hiccups during the first harvesting period. “Not much money was made from it and that was quite discouraging,” the fish farmer said. Fakolade said the price of fish feeds has continually skyrocketed, and that is why, he says, the cost of fish in the market today has also increased. He blamed the use of generator in most cases to ensure that activities at his farm go on uninterrupted, the cost of fuelling eats deep into whatever gains the farm would have generated. He, however, insists that fish farming business has a very bright prospect in the country with a belief that in no distant time, majority of unemployed graduates would find solace in that sector of the economy. He also said that the phenomenon is an area the government should really show interest in. “The sector is really an area where the government should focus its attention on rather than the oil sector alone. I want to assure you that the business of fish farming is booming and it will continue to boom. I feed my family from the business and also send my children to school. In fact, very soon my house will be completed,” he said. But, the business is not for individuals alone. Government has also bought into it. For instance, one of the areas

Need for graduates to be self-employed Oluwaseyi Fakolade, a fish farmer whose fish pond is in Gemade Estate, Egbeda, Lagos also attended the University of Ilorin where he earned a Bachelor of Science degree in agricultural engineering as well as a Master’s in business administration from the Obafemi Awolowo University, Ile Ife. Fakolade went into fish farming based on the advice of one of his lecturers that there was need for graduates to be selfemployed rather than looking for whitecollar jobs that may not readily come. “On getting back to Lagos, I felt there was need for me to get somebody with ideas that could help one become an employer of labour. So, my uncle introduced me to fish farming after asking me to do a proposal,” Fakolade said.

CO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, June 30, 2014

‘Fish farming, a very profitable venture'

Muhammed and Jimil counting fish for selling Grid

Fish farmer feeding his fingerlings CONTINUED FR O M PAGE 22

of attempts and, in fact, efforts of the Ogun State government at “securing the future” of its citizenry was the reinvention of the agricultural policy of the late sage, Obafemi Awolowo. It actually started with the re-structuring and rekindling of the hitherto prostrate farm estate scattered all over the 20 local government areas of the state. This came with the administration of Gbenga Daniel in 2003. Demand for fishes outweigh their supply The government, according to investigations, entered into a synergy with the Ijebu-ode Poverty Reduction Development Board (IOPRDB), a non-governmental organisation, promoted by conglomerate of co-operative societies to shore up the protein intakes through the provision of 100 hectares of land. The monetary accruals from the well over 600 direct fish farmers in Eriwe in Ijebu-Ode stood at over N160 million, at the time Daniel left office. It was reputed then to be the largest in the entire West African sub-region. The success of the project encouraged the state government to consent to partnering with the local governments in the state to start up similar project. A fish farmer in Ogun State, Tajudeen Olori, who spoke to this reporter on phone, said the demand for fish and related aquatic meals outweigh their supply. He lauded the state government for encouraging more investment in the scheme. “It will not surprise you if I say that bookings for our fish, I know it applies to quite a number of our colleagues, are usually in advance. We cannot yet satisfy the local demand,” Olori said. Although, national acclaimed as the food basket of the nation, Benue State did not really carve a niche for itself in fishing until recently. This is despite its natural endowments in fishing that when

exploited would have placed the state on the fishing map. The River Benue, which traverses the length and breadth of the state and a dozen other small rivers, streams and the likes, would have come in handy in this regard. Incidentally, the interest of farmers in the state had been purely in cropping. But, since government stepped up campaigns for diversification in agricultural production, especially fish farming, the people, it seems, are beginning to realise the importance of that area of farming. Governor Gabriel Suswam, according to those who should know, has been struggling to revive the state’s fish ponds. At present, the ponds owned by the state have stocked well over 145, 000 fisheries, findings have revealed. With the renewed campaigns, there appears to be some interest in fish farming by the citizens. However, the executive Director, Winsome Farms Limited, Makurdi, Myke Gbe, said that farmers in the state are yet to fully embrace fish farming because of lack of awareness of the treasure in it, and the difficulty operating it. He said his ponds stock over 30, 000 fishes and that expansion has been gradual over the years, as government could not render financial support with the banks approached for loans giving conditions that are impossible to meet. Gbe, however, assured that if the renewed campaigns in fish farming embarked upon by Suswam are sustained along with his promises of establishing a Feed Mill in Makurdi with provision of a micro-finance facility fulfilled, more people will likely pick interest in fisheries. He extolled the potential of fish farming, but emphasised that most people are discouraged because of its delicate nature as well as ignorance. He added that he earns on the average, over N1 million from the investment and has three staff, who work on the farm with him. But largely, just a handful of fish

Another fish farmer tending his fishes

farms by individuals are found in the state and interest had waned considerably until recently. Suswam, though, has continued to preach the need to embrace fish farming, but it has not struck government that the special loan promised to arrange for willing fish farmers through the agricultural ministry is yet to materialise. Until such obligations are met, fish farming, according to indigenes, shall continue to be at its lowest ebb in the state. Ikorodu Farm Estate attracts international attention Lagos State has also encouraged what could be called fish farm estate. The Ikorodu Fish Farm Estate (IFFE), which is reputed to be the largest in West Africa, has been attracting international attention. Apart from that, the state, according to findings, has also introduced what it called the cage-and-pen culture in the country. It is the government’s initiative on aquaculture, or simply, marine agriculture. The idea of the government is to raise fishes in their natural habitats instead of doing that in concrete farms. “We have so far experimented in about six locations, including Dalewadeko in Badagry, Okorisan in Epe, Ijede and OtoAwori. But, we asked the communities to take over the facilities and we shall assist them to stock and monitor the essential things. Although, we don’t want to compete with the real fishermen but we want to help them so that they too can help

themselves in return. That basically is the objective of the project. We believe that we cannot produce all that we’ll eat in Lagos; so, whatever the people can produce would be a plus to the economy of Lagos State,” said a source at the state’s ministry of agriculture, who would not want to be named.” Fish farming, according to experts and those involved in it, is very profitable, provided it is managed well. Little wonder, the youth are finding it attractive to venture into. It requires little amount of money to set up, but not precluding the supper rich, who may wish to invest their millions into that sector of the economy. This may have accounted for why Plateau State is host to several thriving large-scale fish farms, like the Gengere, Jos-based Blue Star fish farm. The farm, which was established around 2006 by Awwal Al-Mansul, according to findings, is today a major player in the aquaculture business in that state. It was said to have started with N5 million and 20, 000 adult fishes and harbours brands like catfish, tilapia, goldfish and other showy fishes. It distinguished itself for using both the concrete tank as well as earth pond to rear the fishes. Afe Babalola, a renowned lawyer and industrialist, now based in his home state of Ekiti, also invested hugely into fish farming. He, however, has donated a large portion of the farm to the university he established, Afe Babalola University, situated also in Ekiti State. CO NTINUED O N PAGE 24

24 INVESTIGATION

Sanctity of Truth

Monday, June 30, 2014

Aquaculture, a veriatable source of employment

Pond culture

An erthen pond under construction CONTINUED FR O M PAGE 23

Billions of naira could be realised in fish farming Although, tilapia, catfish, carp and heterotis are the commonly cultivated fish species in the country, Michael says catfish remains the favourite for Nigerians, both for farmers and consumers. “It is because it is easiest to farm. Apart from its high growth rate and remarkable ability to endure adverse conditions, catfish market value is twice as high as that of tilapia, its closest rival in domestic fish farming. “Even those who love fish pepper soup, go for the one often referred to as ‘point and kill’. Ask any Lagos socialite about ‘point and kill’, and you would understand what 1 am talking about,” Michael remarked. Catfish fingerlings at most fish farms are sold to customers at between N150 and N200 each. Juvenile goes for N200 to N300 depending on size, while the table-size goes for N700 per kilogramme. However, despite the predominance of catfish farmers, which now accounts for more than 70 per cent of Nigerian aquaculture production, experts and stakeholders in the sector insists that the sub-sector is largely under-exploited. Nonetheless, fish farming has established itself as a veritable source of income and employment opportunities for graduating youths. It is believed in some quarters that billions of naira could be realised in fish farming sector if properly harnessed. Experts are also of the opinion that an average human being should eat one kilogramme of protein daily and this, according to them, can readily be got in fish. “It is better than industrial fishing on the high sea where more manpower is required and numerous problems to contend with,” Michael further stated. Victor Mbalewe, executive director, Food Security Network of Nigeria (FSNN), and a consultant on fish farming said his organisation is into aquaculture to create an environment, which would appear like the natural habitat of fish. That way, he said, the fishes would get almost the same level of clean oxygen; water and nourishment to enable them grow in an environment that has been created by man.

Smoking drying catfish in oven kiln

Bags of fish feed

Mbalewe also said that aquaculture can be practiced both in a big farm and in the home. He explained that fish naturally grows in water, but because of explosion in human population, which has resulted in continuous increase in demand for fish for human consumption, science, he explained, came in to help man to perfect the practice of rearing fish in enclosures. That way, he said, man was able to stimulate the natural habitat of fish, which is in river and ocean by building ponds that may be concrete or earthen. Nigerians are, no doubt, large consumers of fish and it remains one of the main products consumed in terms of animal protein. Study has shown that only around 50 per cent of demand for fish is currently being met by local supply. The sector is estimated to contribute 3.5 per cent of Nigeria’s Cross Domestic Product (GDP) and provides direct and indirect

employment to over six million people. However, in spite of the popularity of farming in Nigeria, the fish farming industry can best be described as being at the infant stage when compare to the large market potential for its production and marketing. This is mainly due to unavailability of fingerlings owing to lack of adequate infrastructure for hatcheries for its production. African fish and fisheries have annual value of $2.7b Former President Olusegun Obasanjo had at New Partnership for Africa’s Development (NEPAD) in 2006 “Fish for All” summit in Abuja alluded to the fact that “Africa’s fish sector makes vital contributions to food and security of 200 million of our people and provides income and trade. “Moreover, African fish and fisheries

products have an annual export value of over $2.7 billion. Yet, these benefits are at risk as the exploitation of African natural fish stocks is reaching its limits and aquaculture production has not yet realised its full potentials,” he said. Obasanjo had also promised to take the production of fish and fish products seriously. “The ultimate aim is to make Nigeria self-sufficient in fish production by increasing production and making the country a net exporter of fish and fishery products. We have thus paid great emphasis on commercial catfish farming and providing the enabling environment for it,” he further said. Also, Enoch Kolapomoye, former Commissioner for Agriculture and Cooperative in Lagos State believes that though the state enjoys an enviable aquatic splendour, there are still more to be done in the area of fish production. “If you take note, the traditional occupation of Lagosians, I mean cultural occupation where Lagosians derive their livelihood; you’ll discover that is fishing. They deal with fishes, from the ocean, Lagoon and the various creeks in Lagos State. “The state is richly endowed with aquatic habits, and that says a about it. So, fishing has a lot of economic implications for the state. “It makes a lot of contributions to the life of our rural folks. That is where a large number of them derive their livelihood. They make 100 per cent of their income from fish farming,” Kolapomoye stated. Interestingly, the Federal Government stated recently that Nigeria is saving N300 million annually from the substitution of imported fish feeds, with an estimate of 25 per cent of the 45,000 metric tonnes imported into the country, Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, said. Adesina, who revealed that the country spends at least N117.7 billion annually on the importation of fish feeds, said four major investors in the feeds production had been identified to increase capacity to meet local demands. He identified the investors as Grand Cereals in Jos, Plateau State; Durante in Oyo State; Wonder Feeds in Kaduna State, and Multifeeds, an Israeli company; all of which he said had declared their interest in the massive feeds’ production.

BUSINESS MONDAY, JUNE 30, 2014

WHAT'S NEWS $287m unlicensed software installed in Nigeria in 2013 A worldwide study on software installation has discovered that the commercial value of unlicensed software installed on personal computers in Nigeria reached over $287 million in 2013.

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Experts seek restriction of foreign airlines' access to Nigerian market Piqued by the huge flight rights given to foreign airlines without reciprocity from Nigerian carriers, experts have called on the Federal Government to review all traffic rights, market access and all other policies that have hampered the growth of the nation’s airlines.

}p-26

Illegal Logging: Africa loses $100bn yearly At least, 100 million dollars is estimated as being lost by African countries to the global economy through illegal logging every year, the United Nations Environment Protection (UNEP) has stated.

}p-27

Terrorism: Insurers advised to identify hidden opportunities Following the unending bombings and other terrorist acts in the country, a frontline stakeholder in the insurance sector, Mr. Yemi Soladoye, has advised insurance industry operators to identify available opportunities embedded in the crisis instead of staying away from it completely.

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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/Agric) GODSON IKORO , Asst. Editor (Money Market) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

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AYODELE AMINU,

25 NEW CBN GOVERNOR MUST FOCUS ON STABILITY OF EXCHANGE RATE –NIRANOLADUNNI }p-28-29

DEPUTY EDITOR, BUSINESS

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Chinese firm to invest N5bn in Nigeria’s steel industry FDI The country’s steel industry receives a major boost.

Dele Alao

Chinese firm, PAN Steel Corporation of China, has concluded plans to invest $5 billion in new steel plant in Nigeria. President, PAN Steel Group Corporation, Mr. Zhang Dade, who disclosed this during a courtesy call on the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, in Abuja, said that Nigeria has good investment environment which had prompted them to decide to invest the amount for new steel plant that will produce between four and five million metric tons per annum. “Nigeria has the biggest population, very good investment environment, rich natural resources and coming to Nigeria is our priority regarding selection of steel plant designation in Africa. We will put more effort toward industrialisation in Nigeria,” he said. Checks disclosed that the trade volume between China and Nigeria as at 2013 was $13.5 billion, an increase from the $7.7 billion recorded in 2010, while as at 2009, further checks revealed that China’s investment in Nigeria was $7.24 billion. China investors in the country are involved in infrastructure, energy, manufacturing, agriculture, mining and other fields. Meanwhile, Aganga, has commended PAN Steel Corporation of China for taking advantage of Nigeria Industrial Revolution Plan (NIRP) to invest in the steel sector. Aganga, who was represented by the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Abdulkadir Musa, said that the steel industry in Nigeria is

L-R: Director-General, United Nations Industrial Development Organisation, (UNIDO), Li Yong; Minister of Industry, Trade and Investment, Olusegun Aganga; Ambassador of Nigeria to the World Trade Organisation, David Adejuwon and Ambassador of Nigeria to Austria, Abel Ayoko, during the UNIDO Forum on Strategies and Instruments for Inclusive and Sustainable Industrial Development, in Vienna, Austria

quite open and transparent. “We welcome people who want to participate in the development of steel in Nigeria,” the minister said. He added that government has endorsed legislation in the

National Assembly to empower entrepreneurs and protect their investments in the country, adding that leading manufacturers in the automobile industry have come from different part of the world to embrace Federal gov-

ernment’s auto policy. “NISSAN has started production and not quite long ago were riding Chinese automobile in the country while others will roll out before the end of the year,” Aganga said.

Delay in 20-year oil blocks renewal affects divestment, says Shell TETE-A-TETE Shell has disclosed that it is still talking with the Federal Government on the renewal of its 20 year oil leases. Adeola Yusuf

oyal Dutch Shell, at the weekend, opened up on its inability to get the Federal Government to renew its 20year leases, six years after the expiration of the document,

declaring that the delay is hurting its divestment plan. New Telegraph had exclusively reported that Shell, Chevron, Total and Agip are operating onshore acreages with expired licenses. Country Chair, Shell companies in Nigeria, Mr. Mutiu Sunmonu who opened up on efforts made to renew the leases at the weekend, expressed optimism that the company would get its license renewed. Sunmonu said this while presenting the 2013 Briefing notes of the company to newsmen in Lagos. “On your question whether the delay is affecting divest-

ment, I will say that you all know that you cannot sell what you don’t have. And with the status of the leases, they have to be renewed in accordance with the laws guiding the oil and gas industry,” he said. New Telegraph gathered that the negotiations between the Federal Government and the four majors, including Chevron and Total, for renewal of the licenses was moved to 2014 after recurrent deadlocks. The oil majors, with the exception of ExxonMobil, have been in failed negotiations with government for several years to CONTINUED ON PAGE 26

WOLE SHADARE, Aviation Editor DELE ALAO, Brands/Marketing Editor CHRIS UGWU, Capital Market Editor ABDULWAHAB ISA, Finance Editor CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter JOHNSON ADEBAYO, Asst. Production Editor

Rates Dashboard INFLATION RATE April 2014...............................7.9% March 2014............................7.8% Feburary 2014 ........................7.7%

LENDING RATE

EXCHANGE RATE

(Parellel As at June 20)

USD . . . . . . . . . . . . . . . . . . N166.50 InterBank Rate . . . . . . . . . 10.50% Pounds . . . . . . . . . . . . . . . . . . N284 Prime Lending Rate. . . . . 16.93% Euro . . . . . . . . . . . . . . . . . . N227.50 Maximum Lending Rate..25.83% • Foreign Reserves – $37.08bn as at 19/06/2014

EXCHANGE RATE

(Official As at June 20)

USD . . . . . . . . . . . . . . . . . . . N156.73 Pounds . . . . . . . . . . . . . . . N266.36 Euro . . . . . . . . . . . . . . . . . . . N212.62 Source: CBN

26 BUSINESS | NEWS PIRACY Illegal use of technology products continue despite control efforts Jonah Iboma

worldwide study on software installation has discovered that the commercial value of unlicensed software installed on personal computers in Nigeria reached over $287 million in 2013. The report titled: "2013 Global Software Survey released by Business Software Alliance (BSA), found that in the Middle East and Africa, the commercial value of unlicensed software was over $4.3 billion in 2013. It stated that 81 per cent of the software installed on personal computers (PCs) in Nigeria in 2013 was not properly licensed, with computer users, citing the risk of security threats from malware as the top reason not to use unlicensed software. Among their specific concerns are intrusions by hackers and loss of data. Yet in the enterprise, only 35 percent of companies have written policies in place requiring use of properly licensed software, the report added. Another concern for Nigerian businesses is accidental piracy. “As methods to manu-

SKEWED Nigerian carriers have no answer for the predatory nature of foreign mega airlines Wole Shadare

iqued by the huge flight rights given to foreign airlines without reciprocity from Nigerian carriers, experts have called on the Federal Government to review all traffic rights, market access and all other policies that have hampered the growth of the nation’s airlines. They equally called for the review of aviation regulatory framework, joint ventures and partnership airport and air traffic control infrastructure among others. The exports also called for a high level meeting in Nigeria of all aviation industry stakeholders so that they can salvage the aviation sector and collectively move it forward. A former Assistant Secretary General of Airline Operators of Nigeria (AON), Mohammed Tukur, stated that Nigerian domestic airlines have been described as neither having the capacity to operate on international flights, nor meet with the Bilateral Air Service Agreement (BASA) they entered into with over 50 countries. He stated that many of them are currently bogged down by various challenges, adding that their hitherto competitive edge may have gone out through their respective rus-

Sanctity of Truth

Monday, June 30, 2014

$287m unlicensed software installed in Nigeria in 2013 –Report facture and sell counterfeit software become more sophisticated, there is an urgent need for greater awareness of this critical problem. Unsuspecting companies are at risk of downloading or purchasing counterfeit soft-

ware that can expose them to spyware, malware and viruses that can lead to identity theft, loss of data, and system failures,” said Haman. “Local law enforcement is taking action to tackle unscrupulous resellers and computer shops. An

effective partnership between the public and private sector is crucial to reducing unlicensed software use in Nigeria.” Among other findings in BSA's Global Software Survey are that the commercial value of unlicensed PC software

L-R: Africa Marketing Director, GlaxoSmithKline, Lampe Omoyele; Director, Corporate Communications and CSR, Airtel Nigeria, Emeka Oparah and Director, Chartered Institute of Personnel Management of Nigeria (CIPM), Toyin Ojudun, at the Customer Service Practitioners Association of Nigeria (CUSPA) debate, in Lagos .

Experts seek restriction of foreign airlines' access to market tic wings. According to him, they are constantly agitating for more routes when it is obvious that they do not have the capacity, noting that they already have flight right as enshrined in the BASA between Nigeria and other nations. “Why other carriers especially from Europe utilise theirs, the nation’s carriers have no answer for the predatory nature of foreign mega airlines.” BASA is an agreement, which two nations sign to allow international commercial air transport services between their territories. Consequently, the country

may have lost over N200 billion in form of capital flight by the operation of foreign airlines, who are capitalising on the operational inertia of the local carriers. Tukur noted that Nigeria has over 60 BASA across the globe with different countries for economic and air transportation benefits, but Nigerian airlines do not have the capacity and capability to reciprocate the pact, as only about 15 were being serviced while the others were virtually of little benefit, except for commercial income of $20 per seat carried by the foreign airline on routes not plied by

Nigerian airline. President of Aviation Round Table (ART), Captain Dele Ore, said that the local carriers are required to meet particular criteria, experience and financial and managerial capacities that would enable them meet the standards of operating international flights. His words: “The government should stop them from going to those places. Let them be limited to viable routes, so that when British Airways drops passengers in Lagos, our domestic airlines can carry them to Abuja or when Virgin Atlantic drops passengers in Abuja, our local carriers can take them to Lagos.

installations totaled $62.7 billion globally in 2013, a slight decrease from $63.5 billion in 2011. Also, the Middle East and Africa has the third highest regional rate of unlicensed software tied with Latin America at 59 percent. Asia-Pacific has the highest rate in the world (62 percent) followed by Central and Eastern Europe (61 percent). BSA also said that although there was a gradual shift occurring in the delivery of software functionality to the cloud, it is not likely to lower the rate of unlicensed software installations anytime soon. The study clearly shows how much work still has to be done,” said Marius Haman, Corporate Attorney, Digital Crimes Unit at Microsoft, one of BSA’s member companies. It stressed: “Reducing unlicensed software use will help to stimulate Nigeria’s economy, enhance businesses productivity and better avoid security risks. Security is especially important in light of the growing threat of cybercrime.” According to BSA, globally, unlicensed software use continues to be a major problem with 43 percent of the software installed on PCs around the world not properly licensed. It discovered that emerging markets now account for 56 percent of all PCs in use globally and nearly three-quarters of all unlicensed software installations (73 percent). That trend is likely to continue, it noted. The study, noted in particular that there was significant gap between workers’ and IT managers’ awareness of company software policies, a trend it described as alarming. The study also found that 42 percent of workers said their companies either did not have a policy on licensed software use or they didn’t know, while 86 percent of IT managers claimed that their companies had either a written policy or an informal one. “It is no surprise, then, that less than half of IT managers surveyed are very confident that their company's software is properly licensed,” the BSA report said.

Delay in oil blocks renewal affects divestment C O N T I N U E D F R O M PA G E 2 5

renew these expired licenses (which is done every 20 years), on many of their onshore and shallow water blocks. Minister of Petroleum Resources, Mrs. Diezani AlisonMadueke, had in May 2012, pledged government’s readiness to renew the licenses in June of that year, but over one year after, the stalemate continue to linger. “In order to show our commitment to a vibrant upstream sector, we have started the renewal of leases in good faith… renew-

als with Chevron and Shell are expected to be concluded by June at the latest,” Alison-Madueke had said at the signing of license renewal for ExxonMobil in Abuja in May 2012. The Exxon Mobil’s renewal in February, 2012, was worth trillions of dollars, while that of Shell, Chevron, Total and Eni will also be in the same region. Further checks showed that this stalemate was occasioned by government’s inability to pass the controversial Petroleum Industry Bill (PIB) into law in 2013. A source closed to the nego-

tiation told this newspaper at the weekend: “The government does not look optimistic on the renewal of these oil blocks leases before the passage of the Petroleum Industry Bill (PIB) and you are aware that the National Assembly on the other hand does not look optimistic on the passage of the bill. “I can tell you that negotiations and meetings have been held on several occasions at several times in Abuja and elsewhere between representatives of government led by the minister of petroleum resources, Diezani Alison-madueke and

the representatives of each of the IOCs namely Shell, Chevron, Eni and Total. But they have not been able to come up with a way forward.” A senior manager with one of the IOCs who preferred anonymity said that this situation is not good for the business of oil exploration and exploitation. “It is the major reason why many are now saying that the licenses might not be renewed until after the passage of the Petroleum Industry Bill (PIB), which is likely to increase royalties and taxes, becomes law,” she noted.

BUSINESS | NEWS

Sanctity of Truth

Monday, June 30, 2014

Illegal Logging: Africa loses $100bn yearly ALLIANCE Tanzania, Kenya and Uganda strategize to combat illegal timber trade Dayo Ayeyemi

t least, 100 million dollars is estimated as being lost by African countries to the global economy through illegal logging every year, the United Nations Environment Protection (UNEP) has stated. The amount, it said, has made the trade in illegally harvested timber highly damaging to national and regional economies. For example, 10 per cent of Nigeria’s land is covered by forests, and the country has experienced a high rate of deforestation which has continued to rise over the past twenty years. Between 2005 and 2010, the annual rate was four per cent, and today none of the country’s native forests remain. To arrest the situation, a high-level government representative from Kenya, Uganda and Tanzania at the first United Nations Environment Assembly (UNEA), at the weekend, announced their intention to work together, along with the International Police (INTERPOL) and the United Nations (UN) agencies, to curb illegal timber trade that is stripping East Africa of

one of its most valuable natural resources. According to a statement by UNEP, the East Africa Initiative on Illegal Timber Trade and strategy to Reduce Emissions from Deforestation and forest Degradation (REDD) represents an innovative crossborder, multi-sectoral effort that will create a powerful deterrent to Africa’s illegal timber trade. Illegal logging degrades forests, causes economic loss, destroys biodiversity and livelihoods, promotes corruption, and funds armed conflict. The economic costs of illegal logging are staggering. Well-managed forests are a vital economic resource that supports the livelihoods of 1.6 billion people. Ecosystem services from tropical forests alone are estimated to be worth, on average, $6,120 per hectare each year. Africa’s forest cover is estimated at 675 million hectares, or 23 per cent of the continent’s total land area. Between 2000 and 2010, 3.4 million hectares were lost annually to illegal logging, equivalent to an area 322 times the size of Paris, or 5.1 million football pitches. In addition to facing the challenges of illegal logging within their borders, Tanzania, Kenya and Uganda are also used as transit countries for timber illegally logged in other countries such as the Democratic Republic of Congo (DRC). The Tanzanian strategy to reduce emissions from defores-

Auto trade fair to attract exhibitors from 74 countries EXHIBITION Germany to host over 150,000 people at the 2014 edition of the international Bayo Akomolafe

o fewer than 4,597 international exhibitors from 74 countries will attend the 2014 edition of Automechanika holding in Frankfurt am Main, Germany, from September 16 to 20, 2014. The event is also expected to attract about 153,837 visitors from 176 counties and showcase the advance technology/ innovations and services. The fair, Automechanika Frankfurt, is the automotive industry’s most important international trade fair for the current trends in aftermarket and original parts and equipment in the auto world. Automechanika 2014 will present the entire process chain in the automotive aftermarket; from point-of-sale, services to recycling and waste disposal. This year edition which promises to be special for both visitors and exhibitors will occupy an exhibition space of ap-

proximately 294,300sqm. In a statement by the country representative in Nigeria and sub-West Africa, Exhibition and Trade Fair Limited, the 2014 Automechanika will be unique as it will spotlight innovations and solutions that will cover the breadth and depth in the fields of parts, systems, tuning, workshop equipment, bodywork and paintwork, car wash, IT and management and the lasted automobile services Benefits from the expertise of exhibitors of vehicle accessories, special equipment, tuning, performance systems and customizing will be showcased, the statement added. It said: “Latest offer from the sectors of vehicle service and repair equipment, OBD online diagnostics, body-work repair, accident repair, repair painting, dealership equipment, waste disposal and recycling will be exhibited. “Suppliers from the IT services and management sectors are a vital part of Automechanika. This product group has been created for these key areas, featuring hardware and software solutions, dealer management systems, workshop management and dealership market.”

tation and forest degradation (REDD), the on-going Kenya REDD governance project and the Uganda REDD readiness plan highlight the importance of strengthening law enforcement and forest governance to address the illegal timber trade as one of the key drivers of deforestation. These countries recognise that illegal logging must be mitigated, and forests managed sustainably, in order to reduce emissions from forest loss. As such, a key goal of the initiative is to curb illegal logging and trade in East Africa as a way to address deforestation and subsequently reduce emissions from forests.

The government of Norway, a strong global supporter of tropical forests and those that depend on them, has announced its intended support for this collaboration. Minister of Climate and Environment, Norway, Tine Sundtoft, said that he was very enthusiastic to learn that there was great interest from Kenya, Tanzania and Uganda to tackle illegal logging and trade. He said: “We know that these illegal activities constitute an important driver of deforestation and forest degradation in the region.” “Due to illegal logging, countries are deprived of substantial revenues from the

forest sector, and the income from this trade often ends up in illegal networks, fuelling crime as well as conflict,” she said. “Norway is committed to supporting this initiative and congratulates the countries, the UN and INTERPOL, for coming together and announcing their dedication to work together on this important initiative.” The East Africa Initiative on Illegal Timber Trade and REDDprovides an opportunity to build on each country’s experiences combatting the illegal timber trade, and brings in the specialized expertise of INTERPOL and each collaborating UN agency.

L-R: Zonal Business Manager, Airtel Nigeria, Lagos, Olawale Alao; Managing Director/CEO, Easy and Quiet Limited, Mohammed Mutiu Anthony, Regional Operations Director, Femi Oshinlaja and Public Relations Officer, Passport Office, Nigeria Immigration Service, Chief Sprindent, Oguejiofor Ifeanyi during the launch of the Airtel Express Shop at Festac, Lagos

Auto production surpasses 1bn mark Siaka Momoh

ondon-based IHS Automotive says the world’s fleet of lightduty vehicles has surpassed one billion, putting light vehicle (passenger car and light-duty truck) production in 2013 at 84.7 million, up from 81.5 million in 2012. It says five countries account for the production of 60 per cent of all light vehicles worldwide with China producing a stunning 20.9 million vehicles in 2013; the United States (10.9 million); Japan (nine million); Germany (5.6 million); and South Korea (4.5 million). Says HIS Automotive: “The United States has long been the world leader in motorization. The number of all motor vehicles per 1,000 people there rose to a peak of 844 in 2007. If all countries had the same car density relative to population as the United States does, there would be 4.4 billion motor vehicles worldwide - more than four times the actual fleet. “There are signs; however, that motorization in the United States may finally have peaked.

Almost one in ten U.S. households - 9.2 per cent in 2012 - does not have a vehicle, up from 8.9 per cent in 2005. In dense cities, the figure is much higher. In 2012, just over 56 per cent of households in New York City, for example, did not own a vehicle. But many other US cities lack the density, public transportation systems, walkability, and other factors necessary to make this a viable option.” It explains: “Vehicle fleets have either stopped growing or are growing very slowly in countries like Germany, France, Japan, and Canada. In many emerging economies, however, fleets continue to expand rapidly. The number of cars on China’s roads skyrocketed from 3.8 million in 2000 to 43.2 million in 2011, and the country now has the third largest fleet in the world, after the United States and Japan. Russia's fleet grew from 20.4 million to 36.4 million during the same period of time. Brazil’s fleet almost doubled, from 15.4 million to 27.4 million. India's nearly tripled, from 5.2 million to 14.2 million.

“Higher fuel efficiency is needed to limit automobiles’ contribution to air pollution and greenhouse gas emissions. The current global average fuel consumption for all lightduty vehicles is 7.2 litres per 100 kilometres. The Global Fuel Economy Initiative aims for a 50 per cent improvement by 2050, but current trends fall short of achieving this goal.” According to IHS Automotive, worldwide production of electric vehicles (battery electric and plug-in hybrids) has expanded from 13,866 in 2010 to 242,075 in 2013. The company forecasts production of slightly more than 403,000 vehicles in 2014, up 67 per cent from 2013. The number of electric cars on the world's roads has increased from nearly 100,000 at the beginning of 2012 to 405,000 units at the start of 2014. Most of the cars are in the United States (174,000), Japan (68,000), and China (45,000). “Alternative vehicles are slowly making inroads, but they are not yet significantly altering the resource and environmental impacts of automobiles.

28 MONDAY| INTERVIEW

Sanctity

Monday, Ju

New CBN governor must focus on stabi Moyosola Niran-Oladunni is the Senior Vice President/Chief Executive, International Roads Dynamics Africa Limited, a subsidiary of the Canada-based International Roads Dynamics. Oladunni whose company, I-CUBE W.A LTD., is a concessionaire of the Murtala Mohammed International Airport Access Gate, expresses his views on the task before the new Central Bank of Nigeria (CBN) governor, how government can make efficient use of the roads, investment climate in the country, need to pursue a private-driven economy, among other sundry issues in this interview with DELE ALAO. Excerpts What is IRD all about? IRD is an Intelligent Transportation Systems (ITS) company, a world leader in the highway traffic management and in-vehicle systems solutions industry. IRD was founded by Dr. A.T. Bergan, renowned expert in transportation and civil engineering. IRD’s technology-based evolved from Weigh-In-Motion (WIM), vehicle detection and vehicle measuring systems. For over 30 years, IRD has diversified both from a markets and geographical perspective. IRD Systems are designed and built by a multidisciplinary, customer-focused team which fuses core IRD technology with integrated computing and communications technologies. IRD operates in the following markets: We are number one in the industry in Nigeria called intelligent transport system. Intelligent transport system is all about ensuring safety on the roads for all road users and also advising and consulting for governments on how to generate money through the roads. We are basically also into road signs, equipment manufacturing and installations. We are also into tolls and traffic management and it is a big company and we thank God we are able to convince the management in Canada to see reasons on why they should come and set up their Africa operation in Nigeria. Generating money through the roads reminds one of the introduction of toll gates, its ban and the planned re-introduction. What can you say on the issue of toll gates? Well, in my personal opinion, I wouldn’t know what informed the decision in the first instance to cancel the toll gate then. But, I want to believe that government that did that had its reasons. But in modern day road infrastructure management, I think the best way we could actually maintain the standards of our roads and ensure that they are motorable is to have road users pay in one way or the other. So, I would think that even to assist government in having data and statistics of road users, there is the need for the toll gates to be re-introduced. I want to believe that if not for some legislative issues, it shouldn’t have been this difficult for government to bring back toll gates. How were you able to convince your foreign partners in view of the negative perception some of them have about this country? The fact remains that there is negative perceptions about almost every economy. Our own is not to dwell on that negative perception. Our own is to ensure we bring out what will interest the investors to come and do business with us. And I am also very sure that Nigeria is a hub that almost every investor, internationally, will want to come and invest. It wasn’t so much difficult because we work professionally and we are sure we abide by all globally accepted corporate

governance principles. And this foreign partner did their due diligence on our reputation and integrity, they found us suitable. So, it wasn’t so difficult for us to convince them to come and invest in Nigeria. Then, looking at the potentials in Nigerian economy too, they are very happy to work with us and make their presence felt. Taking a holistic look at the Nigerian economy, what is your assessment, especially in view of the recent rebasing? Well, Nigerian economy is just evolving. And I want to say that we have not even tapped up to one-tenth of the potentials that we have in the economy. We have the land mass, the population and friendly climatic condition, among others. I just think that our basic problem is attitude; the values have been eroded over some time and I think there is the need for government to ensure that it brings back the values that have been eroded, to ensure that we are professionals in what we are doing. Jobs should be given to professionals. Nigerian economy as it is today is almost 70 per cent driven by the public sector, I mean the government. And that is not good enough for any economy that really wants to evolve. I think we should be looking out for a way to ensure that our government got less involved and ensure that our economy is private sector-driven. Once that is done, I will say our economy is on the track. Although, there are so many challenges like power. When you say that our economy should be private sector- driven, don’t forget that there are so many challenges confronting the private sector; one of which is the issue of power you raised? Well, I know for a fact that at a point in time in this country, we were having regular power supply. And it is unimaginable how we got to this level of power supply. I think it is the problem of constant change in decisions. And I also think that most of our decision makers primarily dwell on politics when they want to take some decisions that will impact on the lives of people. In those days, you start looking at things on the merit and the values those people are bringing in and less on politics. But not so these days. And how do you think the private sector has so far fared? I think the private sector has actually failed. To me, there is corruption in Nigeria and when we say there is corruption in Nigeria, it is not only the public sector. There is no way funds can be moved from government purse without the connivance of players in the private sector like the banks. It is when we get to a level where we have professionally-driven private sector, sincere and transparent private sector, when we have genuine entrepreneurs, we can actually say the private sector has arrived.

Niran-Oladunni

For now, most of the people that are championing the interests of the private sector are mere capitalists, taking advan-

There is no way funds can be moved from government purse without the connivance of players in the private sector like the banks. It is when we get to a level where we have professionally-driven private sector, sincere and transparent private sector, when we have genuine entrepreneurs, we can actually say the private sector has arrived

tage of the loopholes in the system, exploiting the system for their own personal gains. And that is why we see less development in the system. When we want to talk about statistics, it is only in Nigeria that we dwell on statistics to measure development not physical things that we can see. I am an optimistic person. I am also of the opinion that we should play less emphasis on politics and look only at impacts that our actions will bring on the people. How do you then see the role of the banking sector in a private-driven economy? The banking sector has a lot to play. I think for now they are doing their best even though it is not enough. All these things depend on regulations from the Central Bank of Nigeria, the interest rate is very critical and you know most of these things are regulated from the CBN. So, one way or the other, you also see the CBN in serious competition with the commercial banks. I think there is a way government should look at this and define the roles and functions of CBN whether they want to go into banking or they want to regulate banking. In a situation

MONDAY| INTERVIEW 29

of Truth

une 30, 2014

ility of exchange rate –Niran-Oladunni BIODATA Previous positions: Founding Chief Efficiency Officer, I-CUBE W.A LTD Qualifications: B.A. Phil (Ondo State University), MBA.(Pan- African University, Lagos) Work Experience: Human resources and administration supervisor; banking executive; product manager; marketing manager; assistant general manager, business development, Years of experience: 15 years.

where CBN sells Treasury Bills, which is a secured investment even though with very minimum returns and you know sceptics investors would rather prefer to put their money in Treasury Bills than put the money in banks for the use of the generality of the people. I think we still have a long way to go. The roles of the CBN should be defined, the roles of the NDIC should be defined and the role of the banks should be clearly defined. I still think that there is a conflict between the activities of the CBN, Nigeria Deposit Insurance Corporation (NDIC) and the Nigerians banks. So, these are critical issues that are very important to the development of the economy. But for some political reasons that are not necessary; we want to exercise powers that we do not really need and that is why today, we are going up, tomorrow we are going down. So, policies have to be consistent. We have a lot of inconsistencies in our banking policies. And I think in the past few years there has been some form of stability in the banking sector. We only pray that the stability will be maintained. Still on the banking sector, we now have a new CBN governor. What is your take on him? I have read about the antecedents of the new CBN governor and I want to believe that he is ably qualified. He has done so very well at Zenith Bank. I think he has the character and the temperament to lead such agency of government. The sincere advice I will give such a man is that he should play less politics and initiate policies that will move the economy forward. What roles do you expect of him so that we can have a vibrant and dynamic CBN? There must be very strict policies and penalties for banks that flout money laundering; there must be very strict policies and penalties for transactions that are questionable as regards foreign exchange. You know, one of our major problems in this country is power and some problems in the petroleum industry. All of these problems are about the exchange rates. We must bring up policies that will stabilise our exchange rate and push up the value of our currency. The moment we can get all those two, then you can find that we will move forward. So, I would want the CBN governor to focus more on the stability of the exchange rate and ensure that we do everything humanly possible by encouraging international trade, more exports than imports that will boost the rate and the value of the naira. Can you expatiate more on why you think the country should boost export more than

import. And juxtapose that with the current efforts of President Goodluck Jonathan and the Agriculture Minister, Dr. Akinwunmi Adesina You see, when you want to dwell on some policies, you need to look at the primary driving force of that policy. There is a difference between some policies that are politically-motivated and policies that are economically and developmentally motivated. Most of our leaders, they look at polices from the political angle, they come up with policies primarily because they want to promote political interests. So, this now open them up to playing to the gallery. As regards the agriculture, to boost agriculture development in Nigeria and use that as a tool to improve the rate of our currency is not something that is theoretical. It is a simple thing. And it is not something that we should be making noise on television, never ever. These are things that automatically have impacts on the lives of everybody like food because you will go to the market and buy what you want to eat. And there is no human being that does not eat. So, I have personally not seen so much as we are being made to see as regards agricultural development. I still believe that we can do so much better. Yes, we saw a lot of silos that are being built across the country but when you want to look at the quality of the silos, viz-a-viz the cost of the project and the functionality of the silos, you now ask yourself; why are we doing this? Are we actually doing this because we are looking at shooting up the agricultural base or are we doing it because we just want the people to see that we are investing in agriculture? What is worth doing at all is worth doing well. If you build 500,000 silos with very low quality, it is not going to be as productive as having 10,000 silos of great quality. So, I want to implore the president and the minister of agriculture, that idea of building silos is good but the motive behind that idea was not something good to ensure that our primary concern is to develop agriculture. Let’s look at the Small and Medium Scale Enterprises which some countries have used as the bedrock of their economic development. Talk about China and Malaysia, among others? The challenge of the small and medium scale enterprise in Nigeria is primarily the challenge of power. We need to get our priority right. The moment we get our priority right, small and medium scale enterprises will come on stage. We also need to look at the sincerity of purpose. There is a lot of pretence in the hearts and minds of people that are ruling this country. So, I think, one, people in authority must decide whether they actually want to move this country forward or not. And I also think we need to dwell on the issue of power very seriously. How would you assess the present government, especially in attracting foreign direct investments? Let me tell you something, there cannot be economic development when there is no political stability. And in a situation where government is distracted politically, there is going to be very little time for such administration to churn out developmental policy. I think there have been a lot of challenges for this administration politically in terms of security and that is taking so much of attention and time. As a business man, I do not think we are moving forward. But a data recently said that our economy has overtaken that of South Africa? When we reel out data in Nigeria; what

Niran-Oladunni

is the basis for the data. How do we generate the data? Do you think in Nigeria we have anything that can say the data we have is foul-prove? Ordinary national identity card project, we cannot implement successfully. Can we vow that this is the population of Nigeria? This is the birth and death ratio? So, what is the basis for the data that we have been throwing around? We don’t want to dwell on false data or conjectured data. What we are looking at is what is physically visible to the people. How do you see an ordinary man on the street? Are we moving forward or moving back? I don’t want to put that on the doorsteps of this administration because there have been so much as regard insecurity in the polity. I think the distraction is affecting the performance in terms of the economy. And why do you think the national identity

card project has not been executed successful? It is because it was not sincerely conceived. It was conceived for pecuniary gains, not for developmental purpose. How do we do a national identity card when we don’t have solid platform for birth rate registration. That is why you cannot even confirm birth certificate. So, when you start a school, you start from learning A, B, C, D till you get to Z. So, the A, of any country that wants to implement solid national identity card is to first put in place a solid birth registration system. So, if that is not in place, there is no way a successful national identity card can be implemented. You realise that even the people who are driving it have little knowledge of information and communications’ technology system. So, I don’t think we are close to having a national identity card.

30 BUSINESS | MONEYLINE

Sanctity of Truth

Monday, June 30, 2014

FBN Capital knocks UNCTAD report in Nigeria and many frontier markets. These are domestic companies and foreign firms with no link to the western world such as Chinese and Indian operators. According to the report, Nigeria, which was rated as favourite of Foreign Direct Investment in 2012, recorded a total of $5.61 billion in FDI last financial year, making it the third in the continent after Mozambique and South Africa respectively. The report said: “In terms of FDI inflows, Nigeria achieved $5.61 billion last year, compared with the top position in 2012.” However, FBN Capital said that when the data was adjusted to reflect the outward investment of the country’s domestic players, Mozambique became the leader because its outflows were negligible compared with $5.62 billion for South Africa and $1.24 billion for Nigeria in 2013. Although FBN noted that

INVESTMENT Nigeria remains the favourite of foreign investors. Godson Ikoro

BN Capital Research has faulted the methodology employed by the United Nations Conference on Trade and Development (UNCTAD) on foreign direct investment among African nations. The methodology rated Nigeria as number three with $5.61 billion in 2013. In its 2014 World Report released last week by UNCTAD, it argued that the index released earlier this month and commissioned by the Wall Street Journal, overlooked two investor groups which are significant

the popular comparison was with South Africa, deposed recently by Nigeria as the largest economy on the continent, the recent decision of Lafarge, a world leader in cement, to regroup its South African and Nigerian operations in Lagos was not reflected. To buttress their point, FBN cited the work of the US-based Frontier Strategy Group, whose index shows Nigeria to be the favoured putative investment destination of over 200 multinationals surveyed. It would be recalled that the Federal Government was advised to boost the nation's Foreign Direct Investment (FDI) rather than Foreign Portfolio Investment (FPI) for economic growth even as it remains focused on the rebased economy. Bismarck Rewane, Managing Director and Chief Executive, Financial Deriva-

Mercedes partners Infiniti on $1.4bn Mexico plant aimler AG (DAI) and Nissan Dproduce Motor Co. (7201) will jointly luxury vehicles at a

said in a joint statement. The first cars are due to roll off the line in 2017. “This project shows how our collaboration, which began in Europe, has become global in scope,” Carlos Ghosn, chief executive officer of Nissan and its French affiliate Renault SA (RNO), said on a webcast with reporters. “I am now even more optimistic” on the future of the cooperation.

new 1 billion-euro ($1.4 billion) factory in Mexico, the biggest project to date in their four-year-old partnership. The German and Japanese automakers will assemble as many as 300,000 Mercedes-Benz and Infiniti compact cars at a facility near Nissan’s plant in Aguascalientes, the companies

Daimler and Renault-Nissan have worked together since 2010 to better compete with the likes of Volkswagen AG, which can spread costs across a stable of 12 brands. The partnership, which was initially focused on small cars and delivery vans, has since expanded to include motors and transmissions, while Infiniti’s Q30 hatchback will use underpinnings from Mercedes.

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

tive Company (FDC), while delivering a paper on, "Gross Domestic Product (GDP) Rebasing and the Impact on Nigeria's Investment Environment recently in Kaduna, said that FDI would automatically lead to national development, stressing that there was a correlation between FDI and FPI as related to GDP because the two have positive effects on the economy. According to him, at the mo-

ment, the government depended more on FPI which is not good enough because there is less commitment on the part of the investors. The researcher insisted that it was not so in the case of FDI because investors contributed to the development of the country by creating employment through creation of companies and infrastructure development.

Sterling Bank bags Most Innovative Bank award

or Sterling Bank Plc, it was a moment to cherish as its efforts aimed at providing unique banking products and services to suit the various categories of its “One Customer” has been recognised. The bank, at the weekend in Lagos, bagged the Most Innovative Bank award, courtesy of its Kia–Kia Account. The event was the BusinessDay Annual Banking Awards held at the Civic Centre, Victoria Island, Lagos. Receiving the award on behalf of the Bank, Sterling Bank’s Head of Retail Products, Mr. Gbenga Adegoke, described the award as a reward for hard work and painstaking research by the bank to come up with products that would be acceptable to the unbanked/ under-banked Nigerians and in support of the Central Bank of Nigeria’s financial inclusion initiative. He, however, expressed the appreciation of the bank to the management of BusinessDay, other institutions and individuals involved in the process of selecting the award winners for considering Sterling Bank worthy. Adegoke assured the over 1000 guests at the event that “Sterling Bank will continue to

engage in research and come up with new products and services to meet the changing needs of our “One Customer.” Later in an interview with journalists, Adegoke who described the introduction of the product as a success story, said that the acceptability of KiaKia had been unprecedented as artisans and many others who were previously excluded from the formal banking system now operate the account as it provides easy and instant access to top class banking services offered by Sterling Bank. He said: “Kia Kia Account is distinguished by the immense ease and convenience associated with its opening process. It can be opened on the spot even without the customer being physically present at the branch with limited documentation requirement. This has been responsible for the increased volume of customers this product has attracted during the slightly over 16 months of its introduction.” Sterling Bank Plc is a leading commercial bank in Nigeria and one of the country’s fastest growing banks. The bank currently operates with168 branches, about 4,648 POS and 422 ATMs across Nigeria.

Fidelity Bank partners PayPal on payment card acceptance Bank Plc has an- aging Director and Chief Exnounced the acceptance ecutive Officer of the bank, Fofidelity its payment cards on the Nnamdi Okonkwo, said that PayPal platform. With this development, Fidelity Bank’s cardholders can now shop from the world’s major international retailers with more flexibility and convenience. Coming on the heels of the proposed nationwide adoption of the CBN’s cashless initiative from July 1, this move is seen as part of the bank’s efforts at boosting electronic payments and fostering ease of transactions. PayPal, a global player in the e-commerce industry, offers a faster and effective means of conducting transactions over the internet and is being used by millions of customers across the world. Divisional Head, Electronic Banking, Adédèjì Olówè, who spoke on behalf of the Man-

the introduction of PayPal was a deliberate attempt by the bank to make financial services easy and accessible to its customers. Specifically, Olowe said that the development was in line with the bank’s commitment to consistently deploy innovative strategies to make life easier for its customers. “We believe that our customers will benefit immensely from this innovation, and the registration process is straightforward," he enthused. He, however, explained that the bank would adopt a phased approach to deployment, saying that, “only shopping on international websites is available at this time, other services will be introduced in the coming months.”

BUSINESS | STOCK WATCH

Sanctity of Truth

Monday, June 30, 2014

Wapic Insurance Plc: Sector perception depress returns INSIGHT

Limited; a development which enhanced its underwriting capacity and placed it amongst the top 5 insurance Company’s in Nigeria across a number of key performance indicators. The Company seeks to be a truly diversified financial services institution that provides protection against all forms of insurable risks to all customer segments and become one of the top twenty financial services institutions in Nigeria by 2017. Wapic has been listed on the Nigerian Stock Exchange since 1978.

Investors await return to profitability from transformation

Chris Ugwu

espite that other subsectors of the Nigerian economy have considerably shown signs of recovery as regards return on investment through appreciation in share prices and dividend payments, the insurance sub sector has fallen short of investors’ patronage and remain less visible in the scheme of things. Unlike other sub-sectors, the insurance companies rather than appreciating in value, have remained relatively stagnant even as a larger percentage of the companies have remained at the nominal prices of 50 kobo at which they were quoted on the market. When companies approach the equities market for listing of their shares, the nominal value quoted is usually 50 kobo as against the actual price they are being sold to the investing public. Save for Mansard Insurance and a few others that have marginally rose above nominal value at close of business on Friday, others have remained in abysmal trance. Since the crash of the nation’s capital market in 2008 negative perception has trailed the sub-sector which was compounded by inability of about 85 per cent of the companies in the industry to pay dividend to shareholders for many years. Market watchers linked the inability of the sub- sector to rise above the nominal level to crisis of confidence which according to them the few ones that raised high expectation for good results ended up posting negative financial results. “There were high expectations that some of them will bring good results to the market, investors started taking position on the insurance stocks, but they ended up posting negative results which now has a spiral effect on other insurance companies, hence investors started dumping their shares,” they said. Though the movement of share price remains relatively stable, Wapic Insurance Plc, one of Nigeria’s oldest and most capitalised insurance companies in Nigeria got its fair share from the dwindling fortune of the sub sector as 2013 full year results saw a loss of N208.1 million in profit after tax. However market sentiment for the company has remained relatively stable as volume in the insurance sub-sector has been largely driven by the activity in the shares of the com-

Financials In full year 2013, Wapic Insurance reported a N208 million loss in profit after tax during the financial year ended 2013. This was contained in the company’s fourth quarter 2013 financial statement submitted to the Nigerian Stock Exchange. The company recorded a loss in profit after tax of N208 million in 2013 as against a profit of N383 million in the comparable period of 2012. Wapic equally posted 213.9 per cent loss in profit before tax, from a gain of N552.3 million in 2012 to a loss of N629.1 million during the year under review. The results also indicate a 10 percent drop in Wapic’s gross written premium (revenue) from N4.17 billion in 2012, to N3.76 billion in 2013. However, in the period under review, the company grew its total assets by 76 percent from N12.68 billion in 2012, to N22.30 billion in 2013. Similarly, its shareholders’ funds increased significantly up from N7.62 billion in the preceding year to N14.18 billion in 2013.

Desai

pany. At the end of trading activities on Friday, the company recorded a turnover of 28.5 million shares worth N21.8 million in 105 deals accounting for about 65 per cent of the overall volume recorded by the sub-sector. The share price which closed at 89 kobo per share in July 31, 2013 has maintained as number five in the sub-sector. When the closing bell rang on Friday, the company’s share price stood at 80 kobo a decline of 9 kobo or 11.25 per cent year to date. Profile Wapic is a full-line insurance company offering diverse range of products and services covering life, general and special risk businesses. The company was founded in 1958 and licensed to underwrite all classes of insurance, such as fire and special perils, goods – in – transit and all risk insurance. Wapic operates two line

wholly owned business lines; Wapic Life Assurance Limited which operates in Nigeria and; a regional footprint in Ghana, Wapic Insurance (Ghana) Limited, as its subsidiaries. In order to bolster the Company’s repositioning and restructuring initiatives, Wapic consummated a merger with Intercontinental Properties

We have re-calibrated our operating model and have articulated unique value propositions targeted at growing relationships across all segments of the economy

Share price movement of Wapic Insurance Plc 2013 July

89 kobo

Aug 31

82 kobo

Sept 30

88 kobo

Oct 31

91 kobo

Nov 30

99 kobo

Dec 31

N1.08 2014

Jan 31

99 kobo

Feb 28

95 kobo

Mar 31

77 kobo

Apr 30

72 kobo

May 30

79 kobo

June 27

80 kobo

Outlook Managing Director of the company Mr. Ashish Desai said: “the past year has been a transformative one for Wapic and we are proud of the determination with which we have fundamentally restructured the business. Wapic is now more than ever positioned to deliver on all fronts. To achieve this, we have cleared out all legacy accounting issues, incurred necessary one-off costs and significantly increased our investment in our capital (both human and financial), governance and branding. We are confident that these will begin to reflect positively on our operating performance as from 2014. We have re-calibrated our operating model and have articulated unique value propositions targeted at growing relationships across all segments of the economy. We acquired requisite IT capabilities to enhance operational efficiency and support our multichannel strategy; and also remodelled our sales force. Our customers remain at the heart of our business and we will continue to adapt to changing market trends to meet their evolving needs. In this regard, we are redefining our products, services and systems and have introduced effective controls and outstanding people”. “We have also moved forward to make Wapic an industry leader in compliance, corporate governance and human capital with one of the most robust balance sheets in the Nigerian insurance sector. These achievements lay the foundation for our turnaround and most importantly to a dynamic and sustainable growth trajectory that is founded on the highest ethical and operational standards. All these will ensure that we deliver value to all stakeholders as we commence a new phase in our company’s history,” further said. Analysts’ perception Insurance companies are the worst hit in the capital market in terms of drop in share prices. According to analysts at Meristem Securities Limited, insurance sector has lost 7.9 per cent year to date compared with the 38 per cent gain in the same period in 2013. “Three stocks have recorded year to date gains, while 8 have lost and 16 stocks have traded flat. This can be largely explained by the overall negative sentiments in the market as well as the pre-existing low demand for insurance stocks owing to delayed reporting of results, lackluster performance by some companies and general negative perception of insurance by Nigerians,” they said. The analysts said they expect investors’ patronage for the stocks to improve given NAICOM’s enforcement of IFRS standards, companies’ innovative reforms to attain profitability and leverage on micro-insurance to improve awareness.

BUSINESS | STOCK WATCH

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Monday, June 30, 2014

Nigerian stocks advance on investors’ optimism

Oteh

Bullish Stock market closes the week on positive trajectory as bargain hunters take position Chris Ugwu

igeria local bourse staged a recovery last week, breaking the jinx of the lull that characterised trading activities the previous weeks. Analysts had forecast that the uncertainty surrounding the market following massive sell off that saw most blue chip companies witnessed the previous weeks would be over and stability returns during the week under review. Investors within the week heaved a sign of relieve as bargain hunters taking position on equities dominated the trading activities. Trading activities on the floor of the Nigerian Stock Exchange opened the week on Monday as transaction in the share prices of Seplat Petroleum Development Company Plc and Julius Berger Nigeria Plc led other gainers to lift market indicators. The key benchmark indices maintained positive trajectory to close in the green, taking supports majorly from highly capitalized stocks which was particularly driven by the two companies. Specifically, the market capitalization of equities appreciated by N148 billion as market sentiments remained positive. At the close of trading, 38 stocks recorded price appreciation, while 27 others equally constituted the losers table. The twin market indicators, the All-Share Index rose by 448.18 basis points or 1.07 per cent from 41,129.27 on Friday

Onyema

to close at 41,577.47, while market capitalization of equities gained N148 billion or 1.07 per cent from N13.580 trillion to N13.728 trillion. Further analysis of the day’s trading showed that Seplat topped the gainers table with N14.00 to close at N684.00 while Julius Berger followed with N7.10 to close at N76.45 per share. On the flip side PZ Cussons Nigeria Plc led the losers with a drop of N1.60 to close at N36.40 per share, while NNFM Plc shed N1.03 to close at N19.75 while Conoil dip by 80 kobo to close at N67.80. On the activity chart, the banking sub-sector dominated in volume terms with 256.9 million shares worth N2.2 billion in 1,397 deals. The sub sector was enhanced by the activities in the shares of UBA and Wema Bank Plc. Other financial services sub -sector boosted by the activities on the shares of FBNH Plc followed with 45.9 million units, worth N421 billion in 768 deals. When the closing bell rang, investors staked a total of 519.2 million shares, worth N5.3 billion in 5,913 deals. Market confidence On Tuesday, the bulls maintained market dominance following investment position taken by bargain hunters on blue chip companies. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.39 per cent as market sentiments extended gaining streak following investors’ high optimism. Consequently, the All-Share Index gained 163.05 basis points or 0.39 per cent to close at 41,740.52 as against 41,577.47 recorded Monday while the market capitalization of equities appreciated by N54 billion or 0.39 per cent as market senti-

Five most capitalised stocks@ June 27, 2014 Dangote Cement Plc

N4tn

Nigerian N1.3tn Breweries Plc Nestle Nig Plc N871bn Guaranty Trust Bank Plc

N854bn

Zenith Bank Plc

N784bn

ment remained green. Meanwhile, a turnover of 622.3 million shares worth N7.7 billion in 7,921 deals was recorded in the day’s trading. Just as in the previous day, the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 133.5 million shares worth N1.5 billion exchanged by investors in 1,717 deals. Volume in the banking subsector was largely driven by activity in the shares of Access Bank Plc and Zeinith Bank Plc. Also, insurance sub sector of the financial services sector, boosted by activity in the shares of Wapic Insurance Plc, followed with a turnover of 66.3 million shares valued at N49.9 billion in 269 deals. The number of gainers at the close of trading session was 34 while decliners closed at 26. Skye Shelter Nigeria Plc led the gainers’ table with a gain of N5.00 to close at N100.00 per share while Nigeria Breweries Plc followed with a gain of N4.98 to close at N175.00 and MRS Plc added N3.00 to close at N70.00 per share. On the other hand, Seplat Petroleum Development Company Plc led the price losers’

table, dropping N9.00 to close at N675.00 per share while NASCON followed with a loss of N1.50 to close at N40.50 per share and GSK Nigeria Plc shed 99 kobo to close at N65.01 per share. Upward trend On Wednesday, activities on the capital market sustained bullish rally as transaction in the share prices of Dangote Cement Plc and Mobil Oil Nigeria Plc led other gainers to lift market indicators. The key benchmark indices maintained upward trend to close in the green, taking supports majorly from highly capitalized stocks which was particularly driven the two companies. Specifically, the market capitalization of equities appreciated by N82 billion as market sentiments remained positive. At the close of trading, 24 stocks recorded price appreciation, while 29 others equally constituted the losers table. The twin market indicators, the All-Share Index, rose by 247.03 basis points or 0.59 per cent from 41,740.52 on Friday to close at 41,987.55, while market capitalization of equities gained N82 billion or 0.59 per cent from N13.782 trillion to N13.864 trillion. Further analysis of the day’s trading showed that Dangote Cement topped the gainers table with N6.75 to close at N235.00 while Mobil Oil followed with N1.43 to close at N131 per share. Sell offs The Nigerian stock market degenerated to sell offs on Thursday following crave by market speculators to cull profit from the previous gains. The bears however overshadowed the bulls leading to share decline in most blue chip companies.

The key market performance measures, the NSE All Share Index and market capitalisation, dropped by 0.6 per cent as market sentiments turned red on the back of losses recorded by two major oil marketing company, Forte Oil Plc and Oando Nigerian Plc. Specifically, the NSE AllShare Index depreciated by 257.96 basis points or 0.6 per cent to close at 41,729.59 as against 41,987.55 recorded the previous day. The market capitalization of equities equally declined by N85 billion or 0.6 per cent to close at N13.779 trillion from N13.864 trillion recorded the previous day. At the close of trading 21 stocks appreciated in price during the day as against 35 others that depreciated in value. Guinness Nigeria Plc advanced by N9.01 to close at N189.21 per share to lead the gainers table. Similarly, Seven Up followed with a gain of N2.00 to close at N93.00 while UAC of Nigeria Plc trailed with a gain of N1.10 to close at N61.30 per share. Reversing the previous day gains, shares of Forte Oil Plc depreciated by N24.37 to close at N25.64 per share, Oando followed with N2.95 to close at N27.43 per share. Nigerian Breweries Plc depreciated by N1.98 to close at N170.02 per share. Meanwhile, a turnover of 441.4 million shares worth N3.4 billion in 6,040 deals was recorded in the day’s trading. Just as in the previous day , the banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 85.7 million shares worth N932.7 billion exchanged by investors in 1,400 deals. Volume in the banking subsector was largely driven by activity in the shares of Access Bank and UBA Plc. Also, insurance sub sector of the financial services sector, boosted by activity in the shares of Wapic Insurance Plc, followed with a turnover of 45.7 million shares valued at N33.5 billion in 251 deals. Extension of gaining streak The bulls on Friday regained its strong hold as the key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.39 per cent as market sentiments extended gaining streak following investors’ high optimism. Trading activities on the floor of Exchange had the previous day closed on bearish note on the back of losses recorded by two major oil marketing company, Forte Oil Plc and Onado Nigerian Plc. Specifically, the All-Share Index gained 458.03 basis points or 1.08 per cent to close at 42,187.62 index points as against 41,729.59 recorded on Thursday while the market capitalization of equities appreciated by N151 billion or 1.08 per cent as market sentiment turned green. Meanwhile, a turnover of 361.2 million shares worth N4.9 billion in 4,789 deals was recorded in the day’s trading.

Insurance NIID: 2.5 million insurance certificates captured in three years 33

Sanctity of Truth

Monday, June 30, 2014

Concetration of vehicles on a busy road

AUTHENTIC The Nigerian Insurers Association has beaten fraudsters to their game as more motorists opt for genuine certificates Sunday Ojeme

he introduction of the Nigerian Insurance Industry Database about three years ago is beginning to yield the expected multiple benefits as more motorists have continued to key into the project with over 2.5 million motorists already captured. The motor insurance database, which was conceived by the Nigerian Insurers Association, was primarily aimed at checking the influx and use of fake insurance certificates by over 60 per cent Nigerian motorists. However, as at today, it has yielded triple benefits to the insurers, whose premium has been boosted through the initiative, the motorists, who are now confident about the authenticity of their insurance certificates, as well as the country and the economy being the ultimate beneficiaries in terms of integrity and contribution to the Gross Domestic Product. The NIID is a central system that allows all insurance companies to store all valid policy real time. The centralised Insurance Industry Database Solution is designed to serve the objective of developing a capacity to monitor and authenticate underwriting transactions within the insurance industry which would serve to reduce the incidence of fraudulent insurance transactions and policy certificates. The pilot run started in August 2011, while the solution was officially launched in November 2011. Speaking on the journey so far last week, the immediate past chairman of

Olowude

Chairman, NIA, Godwin Wiggle

The NIID has become an established verification tool for both law enforcement agents and the insuring public towards confirming genuine motor insurance policies Commissioner for Insurance, Mr Fola Daniel

NIA, Mr. Remi Olowude, said that the association had sustained its positive response to the menace of fake insurance documents with the inauguration of the project, stressing that within the three years of its existence, the NIID had become an established verification tool for both law enforcement agents and the insuring public towards confirming genuine motor insurance policies.

He also affirmed that the NIID project enjoyed the support of federal and state agencies in the enforcement of compliance with the minimum Third Party Motor Insurance requirements for motor vehicle owners. According to him, "it is gratifying to report that the level of compliance has been impressive. Till date, over 2.5 million motor insurance certificates have been captured in the database. This translates to significant increase in the motor insurance business portfolio of our member companies."

The initiative has pushed motor insurance business, especially third party, by over 50 per cent between 2012 and 2013. The Director-General, NIA, Mr. Sunday Thomas, also affirmed that over 2.5 million motor insurance certificates have been captured in the database to date. Recent report by the underwriters’ body also revealed that over 70 per cent of the people met, have knowledge about the NIID initiative, which is gradually restoring confidence of the public and their purchase of genuine motor insurance policies. The Commissioner for Insurance, Mr. Fola Daniel, is of the opinion that the NIID will be of great benefit to all stakeholders, including the insurance industry, governments at all levels, policyholders, shareholders of insurance firms and the insuring public. He said that the commission had never lost sight of the menace of fake insurances in the country, a situation that had deprived the nation of the socioeconomic benefits inherent in genuine insurance transactions. Describing the database as one instrument that would become very handy in the control or fight towards the eradication of fake insurances in Nigeria, he said that the project was expected to facilitate easy collation and dissemination of statistical information relating to all classes of insurance in Nigeria, and also serve as a platform for easy identification of genuine insurances by security agencies and other relevant authorities. According to him, “the NIID will provide protection to Nigerians against the dangerous activities of insurance fraudsters, particularly the Third Party Motor Insurance Certificate racketeers. “The eradication of fake insurances and the sanitisation of the insurance industry is one of the cardinal objectives of the Market Development and Restructuring Initiative.. We are of the belief that the launching of the NIID will go a long way in assisting the commission in this campaign.”

34 BUSINESS |INSURANCE GAINS Experts believe that a well thought out product can benefit underwriters in the face of extreme crises Sunday Ojeme

ollowing the unending bombings and other terrorist acts in the country, a frontline stakeholder in the insurance sector, Mr. Yemi Soladoye, has advised insurance industry operators to identify available opportunities embedded in the crisis instead of staying away from it completely. In a chat with New Telegraph, Soladoye, who is the Managing Director, Riskguard Africa Limited, said that although terrorism insurance was an excluded terrain under a typical insurance cover, the operators could still come together, develop a product and also bring in government so that if the level of compensation reached a certain level then government could come in to support them. He said: “It is always like a disaster, something like flood. What government does in that case is to create something like a national insurance company to handle such disasters. The underwriters themselves can also come together by creating something like a pool or a company for that purpose and enter into an agreement with government so that there would be a succor for people suffering from that. “Basically, what they need to do from the present situation is for the insurance industry to see it from the angle of opportunity, create products and provide the necessary cover.” Nigeria has been experiencing series of terrorist attacks from the dreaded Islamic sect, Boko Haram, in the last three years, with the latest one occurring in the heart of the Federal Capital Terrorist last week leaving over 20 people dead and sev-

Terrorism: Insurers advised to identify hidden opportunities eral others seriously injured. Since the development was alien to the country for a very long time, the underwriting industry had never made it part of their product design. Only recently, the Commissioner for Insurance, Mr. Fola Daniel, said that it was time the operators expedite action and design ways of providing insurance cover on terrorism. Describing terrorism as the bane of the country, he called on firms to rise to the challenge of providing cover for terrorism to avert loss of businesses in the industry. He advised the operators to take the initiative on terrorism insurance before an agency is set up to provide for risks on terrorism, stressing that the commission work with the operators to see that government supports the initiative as done in other climes. In the United Kingdom, following the Baltic Exchange bomb in 1992, all UK insurers stopped including terrorism cover on their commercial insurance policies with effect from January 1, 1993 (home insurance policies were unaffected). As a consequence, the government and insurance industry established Pool Re. Primarily funded by premiums paid by policyholders, the government guarantees the fund although any such support must be repaid from future premiums. To date, no government support has been necessary. On December 26, 2007, the President of the United States signed into law the Terrorism Risk Insurance Programme Reauthorization Act of 2007 which extends the Terrorism Risk Insurance Act (TRIA) through December 31, 2014. The law extends the temporary federal

Nigerian health insurance to become paperless he Executive Secretary, NiTsurance geria’s National Health InScheme (NHIS), Dr. Femi Thomas, said that the agency had concluded plans to make the health insurance process paperless beginning from next month. The initiative has also necessitated a Memorandum of Understanding that will make health insurance available to Nigerians for N250 per month. Disclosing this at the fifth anniversary and inauguration of Redcare Health Services’ head office in Ilupeju, Lagos, the executive secretary said that the MoU would digitalise insurance in Nigeria. According to him, "the business of health maintenance is growing day by day in Nigeria with new challenges that we have to cope with. We want to make health insurance paperless by next month; en-

Sanctity of Truth

Monday, June 30, 2014

rollment, monitoring will be digitalised. "We just signed a Memorandum of Understanding for Mobile Health Insurance and will become operational in the next few weeks. It means that people will now be able to register with their mobile devices, pay, and choose their Health Maintenance Organisations (HMOs). It also means that HMOs must make themselves more visible for Nigerians to access them. "With it, notification of referrals will be digitalised and transfer will be easier. The HMOs are expected to comply or face sanction. The device will only cost NGN250 subscription monthly." While advising HMOs to embrace and adapt to the mobile system, he said the move would improve the standard of education in the country.

Program that provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism. Terrorism insurance is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very difficult to predict and the potential liability enormous. For example, the September 11, 2001, attacks resulted in an estimated $31.7 billion loss. This combination of uncertainty and potentially huge losses makes the setting of premiums a difficult mat-

ter. Most insurance companies therefore exclude terrorism from coverage in casualty and property insurance, or else require endorsements to provide coverage. While urging the insurers to look deeply into the crisis so as to unearth hidden opportunities, Soladoye observed that kidnap and ransom insurance that were already available in other jurisdictions are yet to be fully introduced in Nigeria.. He also pointed out that the impact of the current terrorist acts in the country was bound

to further increase the premiums paid on behalf of the military despite the fact that their premiums remain one of the highest in the policy. In 2011, the armed forces' claims was over N.3billion out of a total of N1.9 billion paid by insurers to policyholders under the Group Life schedule. “From time, premium from the military is always the highest because of the nature of their job. In the present circumstance, what they could do is to further reload the premium or exclude some risks,” Soladoye added.

L-R: Deputy Chairman, Nigerian Insurers Association, Eddie Efokoha; Chairman, Godwin Wiggle; and President, Chartered Insurance Institute of Nigeria, Bola Temowo during the 43rd Annual General Meeting of NIA in Lagos last week.

Oil & gas: NIA to hasten reestablishment of pool T he Nigerian Insurers Association has pledged to hasten the process of reestablishing the oil and gas Insurance Pool in a bid to reap the full benefits as provided in the Nigerian Local Content Development Act. Disclosing this last week in Lagos, the new Chairman of NIA, Mr. Godwin Wiggle, said this had become necessary considering the nation’s comparative advantage in the production of oil and gas. Wiggle, who took over from Mr. Remi Olowude, in his acceptance speech, said he would do everything within his powers to sustain the incredible achievements of his predecessors and strengthen the association for the future generation of insurers. He said: “My election is a call to duty and it has, no doubt, given me the opportunity to build on the achievements of my predecessors in office. I am aware of the fact that the assignment is daunting and I therefore call

on all my colleagues to join me to reflect on the past, critically assess the present and look forward to the future with greater hope and enthusiasm. “During my tenure, I intend to lead the team, focusing primarily to sustain and improve on the good relationship that already exists with our regulator, NAICOM. We will also reach out to other regulators in the financial services sector whose oversight functions impact on our business. We will strengthen the cordial relationship that exists with other arms of the industry such as NCRIB, ILAN, ARIAN and CIIN, among others. “We will enforce market discipline by encouraging peer review among member companies with a view to aligning the market practice with international best practices. We will sustain the current effort at addressing those laws that are militating against the growth of the market. The Companies Income Tax Amendment Act

(CITA) 2007 amongst others readily comes to mind.” He said that the executive would also increase the support for the technical committees of the association with a view to realising their potential which will be harnessed for the achievement of the overall goals of the association. Wiggle expressed the Association's was appreciative of the efforts of NAICOM in promoting Microinsurance to deepen insurance penetration in Nigeria. “Our administration will take up the challenge by encouraging member companies to institute corporate structures that will ensure the success of the initiative. I want to restate that the NIA has remained true to its legacy as an institution that exists to champion the cause of the insurance industry and we will ensure that the founders sense of purpose will be upheld by us at all times,” he said.

BUSINESS | FINANCIAL MARKET NEWS

Sanctity of Truth

Monday, June 30, 2014

FMDQ Daily Quotations List

27-Jun-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

Price

Rating/Agency

Issuer

Description 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 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

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 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00

100.00 535.00 500.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 165.17 75.00 150.00 200.00 591.57

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 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

0.25 0.82 2.14 2.83 3.08 3.18 3.92 5.01 5.32 7.59 9.71 14.42 14.90 15.40 16.07

11.19 10.91 11.46 11.44 11.38 11.38 11.39 11.47 11.47 12.07 12.28 12.18 12.17 12.17 12.21

10.59 10.23 11.38 11.38 11.26 11.26 11.29 11.40 11.39 12.01 12.23 12.14 12.13 12.11 12.16

99.46 94.69 102.90 108.60 96.09 94.67 97.85 116.90 82.52 121.05 110.65 118.93 102.14 74.74 84.60

99.61 95.19 103.05 108.75 96.39 94.97 98.15 117.20 82.82 121.35 110.95 119.23 102.44 75.04 84.90

TOTAL OUTSTANDING VALUE

4,375.01

Rating/Agency

Issuer

Description

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

0.35 0.91 1.39 2.45 2.81 3.03

1.00 2.63 2.27 2.00 1.00 1.00

11.78 13.52 13.31 13.35 12.37 12.38

96.12 88.81 105.20 98.61 97.15 94.69

100.15

Agency Bonds AMCON FMBN

***LCRM

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

TOTAL OUTSTANDING VALUE

1,304.32

Sub-National Bonds A/Agusto

KWARA

14.00 KWARA 5-AUG-2014

05-Aug-09

14.00

17.00

05-Aug-14

0.11

1.56

11.98

A-/GCR

NIGER

14.00 NIGER 15-OCT-2014

15-Oct-09

14.00

6.00

15-Oct-14

0.30

3.29

14.00

99.89

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

1.18

4.44

15.38

96.95

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

16.50

30-Sep-15

0.78

3.23

14.16

99.72

Nil

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

13.00

30-Jun-16

1.08

4.46

15.35

98.52

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

18.50

30-Jun-16

1.08

3.48

14.37

101.30

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.81

5.59

16.96

84.88

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

50.00

30-Jun-17

1.64

1.00

12.15

102.54

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.51

1.79

13.18

102.25

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

50.00

30-Sep-18

2.48

1.80

13.15

101.95

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

4.27

1.00

12.39

105.16

A/Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

20.00

09-Dec-18

2.68

1.00

12.36

104.71

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

12.00

12-Dec-18

2.68

4.78

16.14

95.69

A/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

3.07

1.00

12.38

105.20

A/Agusto; A-/GCR

*GOMBE

15.50 GOMBE 02-OCT-2019

02-Oct-12

15.50

20.00

02-Oct-19

3.13

1.00

12.38

107.96

Aa-/Agusto; AA-/GCR

LAGOS

14.50 LAGOS 22-NOV-2019

22-Nov-12

14.50

80.00

22-Nov-19

5.41

1.00

12.49

107.69

A/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

12-Dec-12

14.75

30.00

12-Dec-19

3.19

2.74

14.12

101.55

A/Agusto

*OSUN

14.75 OSUN II 30-SEP-2020

30-Sep-13

14.75

11.40

30-Sep-20

3.81

1.00

12.39

106.83

Aa-/Agusto; AA-/GCR

LAGOS

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.00

27-Nov-20

6.42

1.00

12.73

103.26

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

6.51

1.94

13.70

105.50

A/Agusto A-/GCR

*EKITI *NASARAWA

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

31-Dec-13

14.50

5.00

31-Dec-20

3.82

1.44

12.83

116.80

06-Jan-14

15.00

5.00

06-Jan-21

3.85

1.95

13.34

116.48

99.87

TOTAL OUTSTANDING VALUE

572.90

Corporate Bonds A+/Agusto; AA/GCR

LAFARGE WAPCO

11.50 LAFARGE WAPCO 7-OCT 2014

07-Oct-11

11.50

11.80

07-Oct-14

0.28

1.00

11.68

Aa/Agusto

13.50 GUARANTY TRUST 18-DEC-2014

18-Dec-09

13.50

13.17

18-Dec-14

0.48

5.21

16.19

98.79

Nil

GTB µ NGC

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

2.00

31-Dec-14

0.51

8.71

19.72

98.74

Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

15.00

17-Aug-15

0.66

4.88

15.84

96.21

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

37.50

09-Dec-15

0.97

1.00

11.87

100.30

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

1.50

06-Jan-16

0.82

2.63

13.54

100.53

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

2.26

1.00

12.33

101.23

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

2.33

1.34

12.68

103.03

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

3.26

1.00

12.38

101.56

BBB-/GCR

*C & I LEASING *DANA#

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.94

30-Nov-17

2.08

1.88

13.20

109.32

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

8.01

09-Apr-18

2.03

3.48

14.80

102.37

A-/DataPro†; BB-/GCR

*TOWER

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

3.63

09-Sep-18

2.20

5.20

16.53

102.98

AAA/DataPro†; A+/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

1.00

09-Sep-18

2.20

5.06

16.39

101.95

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

4.24

1.35

12.74

103.97

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

3.00

18-Oct-18

2.31

2.29

13.63

104.33

BBB-/DataPro†; BB+/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

17.00

0.54

17-Feb-19

2.39

6.11

17.45

99.39

BBB/GCR

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

3.51

2.16

13.55

106.68

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

6.38

2.76

14.49

103.07

11-Feb-18

3.63

1.00

12.39

93.74

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

BBB+/DataPro†; BB+/GCR

TOTAL OUTSTANDING VALUE

180.17

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE Rating/Agency

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

4.88

4.72

110.38

111.33

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.15

3.93

103.57

104.40

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

5.28

5.16

107.78

108.69

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

3.86

3.18

111.59

112.72

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.99

4.29

104.45

105.73

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.14

5.88

99.48

100.43

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.02

6.41

100.63

102.31

B/S&P; B/Fitch

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.66

8.25

94.24

95.52

B/Fitch

AFREN PLC

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.16

4.51

113.16

114.37

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.41

6.22

99.33

100.13

B/S&P; B-/Fitch

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.11

6.69

103.99

105.50

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

5.74

5.46

103.41

104.52

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

TOTAL OUTSTANDING VALUE

3,460.00

**Treasury Bills DTM 13 20 27 34 41 48

Money Market

FIXINGS Maturity 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 7-Aug-14 14-Aug-14

Bid Discount (%) 10.60 10.45 10.05 10.70 10.40 10.30

Offer Discount (%) 10.35 10.20 9.80 10.45 10.15 10.05

Bid Yield (%) 10.64 10.51 10.13 10.81 10.52 10.44

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.5000 11.9005 13.1556 14.1275

Tenor

Rate (%)

OBB

10.25

O/N Tenor

10.50

REPO

Rate (%)

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M

162.90 163.13 163.38 163.98

163.00 163.39 163.73 164.64

16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

16.39 14.20 15.00 12.49 8.50 10.00

600.00 165.17 75.00 150.00 200.00 591.57

TOTAL OUTSTANDING VALUE

27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

7.59 9.71 14.42 14.90 15.40 16.07

12.07 12.28 12.18 12.17 12.17 12.21

12.01 12.23 12.14 12.13 12.11 12.16

121.05 110.65 118.93 102.14 74.74 84.60

121.35 110.95 119.23 102.44 75.04 84.90

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.35 0.91 1.39 2.45 2.81 3.03

1.00 2.63 2.27 2.00 1.00 1.00

11.78 Monday, 13.52 13.31 13.35 12.37 12.38

05-Aug-14

0.11

1.56

11.98

4,375.01

Rating/Agency

Description

Issuer

Issue Date

Agency Bonds

36 BUSINESS |FINANCIAL MARKET NEWS AMCON FMBN

EVALUATION TOTAL OUTSTANDING VALUE

***LCRM

A+/Agusto

KADUNA *EBONYI

Nil

*BENUE

A+/Agusto

*IMO

A+/Agusto; A+/GCR

LAGOS

A-/Agusto

*BAYELSA

Stories by Chris Ugwu

he Nigerian Stock ExEDO *DELTA change (NSE), at the A-/Agusto; A-/GCR announced NIGER weekend the A/Agusto; A-/GCR† *EKITI results of the biannual A-/Agusto *NIGER review The NSE 30, NSE A/Agusto; for A-/GCR *ONDO A/Agusto; A-/GCR Lotus Islamic Index*GOMBE (NSE LII) Aa-/Agusto; AA-/GCR LAGOS and the five Sectoral Indices A/Agusto; A-/GCR *OSUN ofA/Agusto The Exchange –The NSE *OSUN Banking, The NSE Consumer Aa-/Agusto; AA-/GCR LAGOS A-/Agusto; The BBB+/DataPro KOGI& Gas, Goods, NSE Oil A/Agusto *EKITI The NSE Industrial and The A-/GCR *NASARAWA NSE Insurance. TOTAL OUTSTANDING VALUE A statement from the InCorporate Bonds of the Nigeria dex Committee A/Agusto

A+/Agusto; A+/GCR

A+/Agusto; AA/GCR

05-Aug-09

14.00

17.00

15-Oct-09

14.00

6.00

15-Oct-14

0.30

3.29

14.00

99.89

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

1.18

4.44

15.38

96.95

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

16.50

30-Sep-15

0.78

3.23

14.16

99.72

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

13.00

30-Jun-16

1.08

4.46

15.35

98.52

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

18.50

30-Jun-16

1.08

LAFARGE WAPCO

10.00 LAGOS 19-APR-2017 Stock Exchange said they the 13.75 BAYELSA 30-JUN-2017 composition of these indices 14.00 EDO 31-DEC-2017 14.00the DELTA 30-SEP-2018 after review would be effec14.00tomorrow. NIGER II 4-OCT-2018 tive 14.50 EKITI 09-DEC-2018 The result of the biannual 14.00 NIGER III 12-DEC-2018 review showed 15.50 ONDO 14-FEB-2019that Ashaka 15.50 GOMBE Cement Plc02-OCT-2019 would replace Skye 14.50 LAGOS 22-NOV-2019 Bank Plc, join the league of 14.75 OSUN 12-DEC-2019 NSE 30. On NSE Lotus Islamic 14.75 OSUN II 30-SEP-2020 Index, UACN Plc will make an 13.50 LAGOS IV 27-NOV-2020 15.00 KOGI 31-DEC-2020 inroad while NAHCO Plc will EKITI II 31-DEC-2020 be14.50 exiting. Champion Brew15.00 NASARAWA 06-JAN-2021 eries Plc will join the pack of NSE Consumer Goods Index to replace DN Tyre & Rubber Plc, 11.50 LAFARGE WAPCO 7-OCT 2014

19-Apr-10 while30-Jun-10 Sterling Bank10.00 Plc will be 13.75 admitted into NSE Banking In30-Dec-10 14.00 30-Sep-11 14.00will exit dex as Wema Bank Plc 04-Oct-11 14.00 the league. 09-Dec-11 14.50 Also, Staco Insurance Plc 12-Dec-13 14.00 and Unity Kapital Plc 14-Feb-12 15.50 will replace02-Oct-12 Consolidated15.50 Hallmark 22-Nov-12 14.50 Plc and Prestige Assurance Plc 12-Dec-12 14.75 in NSE Insurance Index. How30-Sep-13 14.75 ever, 27-Nov-13 no changes were 13.50made in 15.00 NSE 31-Dec-13 Oil & Gas Index and NSE 31-Dec-13 14.50 Industrial Index. 06-Jan-14 15.00 According to Index Committee, the NSE-30 and NSE Industrial Indices are modified

GTB NGC

13.50 GUARANTY TRUST 18-DEC-2014

07-Oct-11

11.50

18-Dec-09

13.50

Nil

17.00 NGC 31-DEC-2014

01-Apr-10

17.00

Bbb-/Agusto A-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

BB+/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

29-Sep-11

13.00

Issue Date

Coupon (%)

A+/Agusto; A-/GCR

NAHCO ollowing the successful FSDH berthing of Islamic A/GCR UBAbanking BBB-/GCR in the country and near *C &the I LEASING BBB+/DataPro†; *DANA take off of BB+/GCR Takaful (Islamic A-/DataPro†; BB-/GCR *TOWER Insurance), the Federal GovAAA/DataPro†; A+/GCR *TOWER ernment is again working out A/Agusto; A/GCR UBA modalities towards kicking Bbb+/Agusto; BBB+/GCR *LA CASERAoff BBB-/DataPro†; *CHELLARAMS the Islamic BB+/GCR bonds transaction BBB/GCR otherwise known as*DANA Sukuk. A+/Agusto; A-/GCR NAHCO According to Bloomberg TOTAL OUTSTANDING VALUE news at the weekend, Senegal’s Supranational Bond incursion into the transaction IFC Africa’s inAAA/S&P the sub-Saharan TOTAL OUTSTANDING VALUE has biggest sovereign Sukuk cleared the path for the contiA-/Agusto

Rating/Agency

Issuer

13.00 NAHCO 29-SEP-2016

nent’s biggest economies, South 14.25 FSDH 25-OCT-2016 Africa and Nigeria to follow 13.00 UBA 30-SEP-2017 18.00debut C&I LEASING 30-NOV-2017 with Islamic bonds. MPR+7.00 DANAopened 9-APR-2018 a sale last Senegal MPR+7.00 TOWER 9-SEP-2018 week for 100 billion CFA francs MPR+5.25 TOWER 9-SEP-2018 ($208 million) of the debt that 14.00 UBA II 22-SEP-2018 will July 18, tapping a 15.75close LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 global market that may sur16.00 DANA II 1-APR-2019 pass record issuance of $46.5 15.25 NAHCO II 14-NOV-2020 billion in 2012, according to arrangers. Worldwide offerings rose 27 per cent to $24.4 billion IFC 11-FEB-2018 in10.20 2014 from a year earlier, data compiled by Bloomberg show. Gambia, which shares Description

57.00

19-Apr-17 2.81 market capitalisation index 30-Jun-17 1.64 with the numbers 25.00 31-Dec-17 of included 3.51 50.00 2.48 stocks fixed30-Sep-18 at 30 and 10 respec9.00 04-Oct-18 4.27 tively. The numbers of included 20.00 09-Dec-18 2.68 stocks in the NSE-Consumer 12.00 12-Dec-18 2.68 Goods, Banking, Insurance 27.00 14-Feb-19 3.07 20.00 02-Oct-19 3.13 10, and Oil/Gas Indices are 15, 80.00 22-Nov-19 15 and seven respectively. 5.41 30.00 12-Dec-19 3.19 The stocks are selected based 11.40 30-Sep-20 3.81 on their market capitalisation 87.00 27-Nov-20 6.42 5.00 31-Dec-20 6.51 from the most liquid sectors. 5.00 31-Dec-20 3.82 The liquidity is based on the 5.00 06-Jan-21 3.85 number of times the stock is 572.90 traded during the preceding two quarters. To be included, 50.00

11.80

07-Oct-14

0.28

13.17

18-Dec-14

0.48

2.00

31-Dec-14

0.51

Maturity Date

Bid Yield (%)

the first state in Nigeria 17-Aug-15 0.66 to 37.50 09-Dec-15 sell Sukuk.Sukuk is the0.97 Ara1.50 06-Jan-16 0.82 bic name for financial certifi15.00 29-Sep-16 2.26 cates, but 25-Oct-16 commonly refers 5.53 2.33 to the Islamic equivalent 20.00 30-Sep-17 3.26 of 0.94 30-Nov-17 2.08 inbonds. Since fixed income, 8.01 09-Apr-18 2.03not terest bearing bonds are 3.63 09-Sep-18 2.20 permissible in Islam, Sukuk 1.00 09-Sep-18 2.20 securities 22-Sep-18 are structured 35.00 4.24 to comply with the Islamic 3.00 18-Oct-18 2.31law 0.54 17-Feb-19 2.39 and its investment principles, 4.50 01-Apr-19 3.51 which prohibits the charging, 2.05 14-Nov-20 6.38 or paying of interest. Finan180.17 cial assets that comply with the Islamic law can be classi12.00 11-Feb-18 fied in accordance with3.63 their 12.00 tradability and non-tradability in the secondary markets. 15.00

a border with Senegal, sells 25-Oct-13 14.25 Sukuk maturing in13.00 less than 30-Sep-10 30-Nov-12 a year weekly, with18.00 yields on 09-Apr-11 91-day notes falling16.00 117 basis 09-Sep-11 points this year to18.00 14.89 per 09-Sep-11 16.00 cent.22-Sep-11 14.00 The Market Development 18-Oct-13 15.75 17-Feb-12 17.00 Director at the Debt Manage16.00 ment01-Apr-14 Office, Ms. Patience Oni14-Nov-13 15.25 ha, was quoted as saying in an email that a Sukuk was part of Nigeria’s strategic framework 11-Feb-13 10.20 through 2017. Osun state sold N10 billion of Islamic debt in September,

Issue Value ($'mm)

Shareholders endorse NPF MFB’s N229m dividend FGN Eurobonds

6.75 JAN 28, 2021

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

FGN

105.20 98.61 97.15 94.69

14.00 NIGER 15-OCT-2014

FG plans Islamic bonds transaction Aa/Agusto

96.12

Sanctity of Truth

June 30, 2014 88.81

NSE releases results of market indices bi-annual review 14.00 KWARA 5-AUG-2014

NIGER

A/Agusto

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

1,304.32

NSE modifies key market Sub-National Bonds A/Agusto KWARA performance measures A-/GCR

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

hareholders of NPF MicroFinance Bank Plc at TOTAL OUTSTANDING VALUE the Annual General Meeting approved the bank's total Corporate Eurobonds dividend of N228.7 million, B-/S&P; B/Fitch AFREN PLC I which translated to 10k per GTBANK PLC I B+/S&P; B+/Fitch share for the 2013 financial GTBANK PLC year. B+/S&P ACCESS BANK PLC Speaking at theFIDELITY meeting, B/S&P; B/Fitch BANK PLC Boniface Okezie, President, B/Fitch AFREN PLC BB-/Fitch; BB-/S&P

5.13 JUL 12, 2018

Progressive Shareholders AsJUL 12, 2023 sociation of 6.38 Nigeria (PSAN), commended the company for the sustainable growth witnessed in the past. 11.50 FEB 01, 2016 While urging the board 7.50 MAY 19, 2016 and management of the com6.00 NOV 08, 2018 pany to maintain the growth 7.25 JUL 25, 2017 in the years 6.88ahead, MAY 09, 2018Okezie said that the had 10.25 company APR 08, 2019

07-Oct-11

6.75

500.00

28-Jan-21

4.88

18-Dec-09

5.13

500.00

12-Jul-18

4.15

maintained dividend pay6.38 ment01-Apr-10 since it listed on the Nigerian Stock Exchange on December 1, 2010. A member at the Inde01-Feb-11 11.50 pendent Shareholders As19-May-11 7.50 sociation of Nigeria, Moses 08-Nov-13 6.00 Igbude, advised the bank to 25-Jul-12 7.25 embark on branch network to 09-May-13 6.88 improve revenue generation. 08-Apr-12 10.25

Igbude said that the bank 500.00 12-Jul-23 5.28 should ensure compliance in all its operations to avoid being 1,500.00 sanctioned by the regulators. An independent share450.00 01-Feb-16 3.86 holder, Solomon Akinsanya, 500.00 19-May-16 4.99 lauded the08-Nov-18 outgoing chair400.00 6.14 man for achievements re350.00 25-Jul-17 7.02 corded in the past nine 8.66 years 300.00 02-May-18 of service. 08-Apr-19 300.00 5.16

100.15

3.48stock must 14.37 be traded 101.30for at the 5.59 16.96 84.88 least 70 per cent of the number 1.00 12.15 102.54 of1.79times the13.18 market opened for 102.25 1.80 13.15 101.95 business. 1.00 12.39 105.16 The Nigerian bourse began 1.00 12.36 104.71 publishing the NSE 30 Index in 4.78 16.14 95.69 February 2009 1.00 12.38 with index 105.20 val1.00 available 12.38 107.96 ues from January 1, 1.00 12.49 2007. On July 1, 2008, 107.69 the NSE 2.74 14.12 101.55 developed four sectoral indi1.00 12.39 106.83 ces of 1,000 1.00 with a base 12.73 value103.26 1.94 13.70 105.50 points, designed to provide in1.44 12.83 116.80 vestable benchmarks to capture 1.95 13.34 116.48 the performance of specific sectors. The sectoral indices comprise the top fifteen most 1.00 11.68 99.87 capitalised and liquid com5.21 16.19 98.79 panies in the Insurance 8.71 19.72 98.74 and Consumer Goods sectors, top 4.88 15.84 96.21 1.00most capitalized 11.87 100.30 ten and liquid 2.63 13.54 100.53 companies in the Banking and 1.00 12.33 101.23 Industrial Goods sector and the 1.34 12.68 103.03 top 1.00seven most 12.38 capitalised 101.56 and 1.88 13.20 109.32Oil & liquid companies in the 3.48 sector. 14.80 102.37 Gas 5.20 16.53 102.98 In July 2012, the Nigerian 5.06 16.39 101.95 bourse launched The 103.97 NSE LII, 1.35 12.74 which consists 2.29 13.63 of companies 104.33 6.11 17.45 practices 99.39are in whose business 2.16 13.55 106.68 conformity with the principles 2.76 14.49 103.07 of Shari’ah with the aim of increasing the breadth of the market and creating an important 1.00 12.39 93.74 benchmark for investments as the alternative non-interest investment space widened. All Offer Yield (%) Bid Price Offer Price the companies that appear on thePrices Islamic Index have been & Yields thoroughly screened by Lotus 4.72 110.38 111.33 Capital Halal Investment, in accordance with 3.93 103.57 a methodology 104.40 approved by an internationally 5.16 107.78 108.69 recognized Shari’ah Advisory Board comprising of renowned Islamic scholars. The price indices, which 3.18 111.59 112.72 were developed using the mar4.29 104.45 105.73 ket capitalisation methodology , 5.88 99.48 100.43 are rebalanced on a biannual 6.41 100.63 102.31 basis -on the94.24 first business 8.25 95.52 day in4.51 January 113.16 and in July114.37 .

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.41

6.22

99.33

100.13

B/S&P; B-/Fitch

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.11

6.69

103.99

105.50

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

5.74

5.46

103.41

104.52

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

3,460.00

27-Jun-14

Marketin the OTC market. **Treasury FIXINGS The FMDQBills Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and Money instruments use of(Spot this &report is subject ForeignThe Exchange Forwards) DTM Bid Discount (%) Bid Yield (%) Tenor Rate (%) to the FMDQ OTC PLC TermsMaturity of Use and Disclaimer Statement. Offer Discount (%) NIBOR

FGN

13 20 27 Bonds34 41 48 55 Rating/Agency 62 69 76 83 90 97 104 111 118 125 146 160 195 209 223 237 251 286 300 314

10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 7-Aug-14 14-Aug-14 21-Aug-14 Issuer 28-Aug-14 4-Sep-14 11-Sep-14 18-Sep-14 25-Sep-14 2-Oct-14 9-Oct-14 16-Oct-14 23-Oct-14 30-Oct-14 20-Nov-14 4-Dec-14 8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15 9-Apr-15 23-Apr-15 7-May-15

TOTAL OUTSTANDING VALUE

10.60 10.45 10.05 10.70 10.40 10.30 10.30 Description 10.50 10.45 9.25 28-SEP-2014 10.75 4.00 23-APR-2015 10.70 13.05 16-AUG-2016 10.75 10.75 15.10 27-APR-2017 10.55 9.85 27-JUL-2017 10.80 9.35 31-AUG-2017 10.80 10.70 30-MAY-2018 10.80 16.00 29-JUN-2019 10.60 10.55 7.00 23-OCT-2019 10.40 16.39 27-JAN-2022 10.45 14.20 14-MAR-2024 10.45 15.00 28-NOV-2028 10.35 12.49 22-MAY-2029 10.40 8.50 20-NOV-2029 10.35 10.20 10.00 23-JUL-2030 10.05

*from the Amortising bonds, the # average life is is a calculated Risk Premium combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills Rating/Agency

Issuer

10.35 10.20 9.80 10.45 10.15 10.05 10.05Date Issue 10.25 10.20 28-Sep-07 10.50 23-Apr-10 10.45 16-Aug-13 10.50 10.50 27-Apr-12 10.30 27-Jul-07 10.55 31-Aug-07 10.55 30-May-08 10.55 29-Jun-12 10.35 10.30 23-Oct-09 10.15 27-Jan-12 10.20 14-Mar-14 10.20 28-Nov-08 10.10 22-May-09 10.15 20-Nov-09 10.10 9.95 23-Jul-10 9.80

Description

10.64 10.51 10.13 10.81 10.52 10.44 10.46 (%) Coupon 10.69 10.66 9.25 11.00 4.00 10.97 13.05 11.04 11.07 15.10 10.88 9.85 11.17 9.35 11.19 10.70 11.21 16.00 11.07 11.06 7.00 11.01 16.39 11.12 14.20 11.16 15.00 11.10 12.49 11.20 8.50 11.26 11.13 10.00 11.00

Bonds Tenor O/N

Rate (%) 10.5000 11.9005 13.1556 14.1275

1M 3M 6M

OBB

10.25

O/N

10.50

REPO

Outstanding Value (N'bn)

Maturity Date

100.00 NITTY 535.00 Tenor 500.27 1M 2M 452.80 3M 20.00 6M 100.00 9M 300.00 12M 351.30 233.90 600.00 NIFEX 165.17 Current Price ($/N) 75.00 BID($/N) 150.00 OFFER ($/N) 200.00 591.57

28-Sep-14 23-Apr-15 Rate (%) 16-Aug-16 10.2066 10.4849 27-Apr-17 10.9021 27-Jul-17 11.0331 31-Aug-17 11.1347 30-May-18 11.1524 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 162.9525 22-May-29 163.0525 20-Nov-29 23-Jul-30

Tenor Call (Yrs) TTM 1M 3M 0.25 6M

Rate (%)

Bid10.25 Yield (%) 12.10 13.22 11.19 13.84

Tenor

Spot 7D 14D 1M Offer Yield 2M 3M(%) 6M 10.59 1Y

0.82 10.91 10.23 2.14 11.46 11.38 2.83 11.44 11.38 :Benchmarks 3.08 11.38 11.26 * :Amortising Bond 3.18 11.38 11.26 µ :Convertible Bond 3.92 Management Corporation 11.39 11.29 AMCON: Asset of Nigeria 5.01 11.47 11.40 FGN: Federal Government of Nigeria FMBN: Federal of Nigeria 5.32 Mortgage Bank11.47 11.39 IFC: International 7.59 Finance Corporation 12.07 12.01 LCRM: Local Contractors Receivables Management 9.71 12.28 12.23 NAHCO: Nigerian Aviation Handling Company 14.42 12.18 12.14 O/N: Overnight 14.90 12.17Company 12.13 UPDC: UAC Property Development 15.40 12.17 Company12.11 WAPCO:West Africa Portland Cement 16.07 12.21 12.16 NOTE:

Bid ($/N)

Offer ($/N)

162.90 163.00 163.13 Price 163.39 163.38 163.73 163.98 164.64 165.14 166.32Price Bid Price Offer 166.47 168.13 170.11 173.74 99.46 99.61 177.96 184.99

94.69 95.19 102.90 103.05 108.60 108.75 NA :Not Applicable 96.09 96.39 # :Floating Rate Bond 94.67 94.97 ***: Deferred coupon bonds 97.85 98.15 117.20 †: Bond 116.90 rating expired 82.52 82.82 121.05 121.35 110.65 110.95 NGC: Nigeria-German Company 118.93 119.23 UBA: United Bank for Africa 102.14 102.44 74.74 75.04 84.60 84.90

4,375.01

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

Agency Bonds AMCON NA

FMBN Modified Duration ***LCRM Buckets

TOTAL OUTSTANDING VALUE Sub-National Bonds

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 Total Outstanding Porfolio Market Value(Bn) 0.00/16.50 LCRM II 20-APR-2017 Volume(Bn) 0.00/16.50 LCRM III 06-JUL-2017

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 Weighting by Outstanding Vol 20-Apr-12 06-Jul-12

0.00 BOND INDEX 978.35 FMDQ FGN 0.00 17.25 0.00/16.00 Weighting by Mkt Value 0.00/16.50 0.00/16.50

24.56 6.00 112.22 Bucket Weighting 116.70 66.49

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

0.35 0.91 1.39 2.45 Implied Yield 2.81 3.03

1.00 2.63 2.27 2.00 Implied Portfolio Price 1.00 1.00

11.78 13.52 13.31 13.35 INDEX 12.37 12.38

96.12 88.81 105.20 98.61 YTD Return (%) 97.15 94.69

1,006.52

953.07

35.81

35.61

0.36 1,304.32

18.00

11.45

116.4388

1,105.93

10.5931

3<5

1,136.97

951.30

35.75

40.22

0.36

35.84

11.89

132.0921

1,118.51

11.8506

683.23

756.74

28.44

24.17

0.28

46.16

12.22

98.5585

1,149.76

14.9764

2,661.11

100.00 05-Aug-09

100.00 14.00

17.00 1.00

100.00 05-Aug-14

11.96 0.11

116.9500 1.56

1,110.90 11.98

11.0900 100.15

A/Agusto

KWARA Market

2,826.72 14.00 KWARA 5-AUG-2014

A-/GCR

NIGER

14.00 NIGER 15-OCT-2014

15-Oct-09

14.00

6.00

15-Oct-14

0.30

3.29

14.00

99.89

A+/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

1.18

4.44

15.38

96.95

A/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

16.50

30-Sep-15

0.78

3.23

14.16

99.72

Nil

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

13.00

30-Jun-16

1.08

4.46

15.35

98.52

A+/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

18.50

30-Jun-16

1.08

3.48

14.37

101.30

A+/Agusto; A+/GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.81

5.59

16.96

84.88

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

50.00

30-Jun-17

1.64

1.00

12.15

102.54

A/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

3.51

1.79

13.18

102.25

A+/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

50.00

30-Sep-18

2.48

1.80

13.15

101.95

Daily Summary as of 27/06/2014

Printed 27/06/2014 14:46:41.041

Sanctity of Truth

Monday, June 30, 2014

Daily Summary (Bonds)

Daily Summary as of 27/06/2014 Printed 27/06/2014 14:46:41.041

BUSINESS | CAPITAL MARKET 37

No Debt Trading Activity

The Nigerian Stock Market Exchange as at June 27, 2014 Daily Summary (Equities)

Daily Summary (Equities)

Activity Summary on Board EQTY

AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol OKOMUOIL PRESCO

No. of Deals 33 8 41

Current Price 33.90 36.00

Quantity Traded 235,602 65,450 301,052

Value Traded 7,744,210.90 2,380,691.50 10,124,902.40

Symbol LIVESTOCK

No. of Deals 37 37

Current Price 3.10

Quantity Traded 1,112,940 1,112,940

Value Traded 3,439,301.42 3,439,301.42

1,413,992

13,564,203.82

Quantity Traded 101,820 144 20,236,040 209,475 20,547,479

Value Traded 140,439.54 158.40 95,511,302.48 13,017,791.61 108,669,692.03

20,547,479

108,669,692.03

AGRICULTURE Totals CONGLOMERATES Daily Summary as of 27/06/2014 Diversified Industries Printed 27/06/2014 14:46:41.041 A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

78 Symbol AGLEVENT JOHNHOLT TRANSCORP UACN

No. of Deals 9 1 192 39 Daily Summary (Equities) 241

CONGLOMERATES Activity Summary Totals on Board EQTY

Current Price 1.44 1.15 4.74 62.06

241

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

HEALTHCARE Pharmaceuticals GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

Current Price 1.35

Quantity Traded Page 743,700 743,700

Value Traded 1 of 13 997,956.25 997,956.25

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

Symbol JBERGER

No. of Deals 9 9

Current Price 76.45

Quantity Traded 65,220 65,220

Value Traded 4,792,678.60 4,792,678.60

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

Symbol UAC-PROP

No. of Deals 16 16

Current Price 17.60

Quantity Traded 134,411 134,411

Value Traded 2,381,513.60 2,381,513.60

943,331

8,172,148.45

CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Daily Summary as of 27/06/2014 Automobiles/Auto Parts Totals Printed 27/06/2014 14:46:41.041 Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Activity Summary on Board EQTYTotals

Symbol DUNLOP Symbol CHAMPION GUINNESS DailyINTBREW Summary NB

CONSUMER GOODS

Beverages--Non-Alcoholic Published by The Nigerian Stock Exchange © 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. U T C NIG. PLC. Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Daily Summary asProducts--Diversified of 27/06/2014 Food Totals Printed 27/06/2014 14:46:41.041 Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC.

No. of Deals 2 2

Current Price 0.50

Quantity Traded 11,699 11,699

Value Traded 5,849.50 5,849.50

No. of Deals 6 49 (Equities) 25 60 140

Current Price 10.17 200.00 26.70 172.00

Quantity Traded 249,457 95,976 401,677 888,530 1,635,640

Value Traded 2,538,848.69 19,096,668.00 10,722,406.00 152,605,916.69 184,963,839.38

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

Quantity Traded Page 1,544 1,544

Value Traded 2 of 13 146,783.09

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON NNFM UTC

No. of Deals 29 64 33 32 1 30 2 11 202

Current Price 8.10 9.40 78.00 4.02 0.50 11.40 19.75 0.50

Quantity Traded 76,969 2,743,538 178,056 867,980 500,000 465,292 22,696 156,520 5,011,051

Value Traded 622,127.70 25,925,737.00 13,759,221.42 3,482,014.98 250,000.00 5,285,576.75 426,003.92 78,260.00 49,828,941.77

Symbol CADBURY NESTLE

No. of Deals 33 59 92

Current Price 81.89 1,098.90

Quantity Traded 263,084 323,951 587,035

Value Traded 20,629,345.61 346,811,792.08 367,441,137.69

Symbol VITAFOAM

No. of Deals 16 16

Current Price 4.44

Quantity Traded 183,350 183,350

Value Traded 774,697.00 774,697.00

No. of Deals 43

Current Price 36.00

Quantity Traded 278,480

Value Traded 9,830,225.78

Page

Symbol UNILEVER

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY PLC Daily Summary asBANK of 27/06/2014 GUARANTY TRUST BANK PLC. Printed 27/06/2014 14:46:41.041 SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA Summary BANK PLC.on Board EQTY Activity FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC Published by The Nigerian Stock Exchange © EQUITY ASSURANCE PLC. GREAT NIGERIAN INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. MANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC Daily Summary as of 27/06/2014 PRESTIGE ASSURANCE CO. PLC. Printed 27/06/2014 14:46:41.041 STANDARD ALLIANCE INSURANCE PLC. WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks TotalsEQTY Activity Summary on Board FINANCIAL SERVICES Mortgage Carriers, Brokers and Services Published by The Nigerian Stock Exchange © ABBEY MORTGAGE BANK PLC

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

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

No. of Deals 34 77

Current Price 52.40

541 Symbol No. of Deals ACCESS 162 DIAMONDBNK 64 ETI 73 FIDELITYBK 104 GUARANTY 183 SKYEBANK 98 STERLNBANK 31 UBA 154 Daily UBN Summary (Equities) 50 UNITYBNK 5 WEMABANK 32

Current Price 9.70 6.30 16.24 2.04 29.02 3.30 2.30 7.81 9.97 0.50 0.98

146,783.09

Quantity Traded 240,323 518,803

Value Traded 12,416,599.95 22,246,825.73

7,949,122

625,408,074.16

Quantity Traded 17,336,361 4,586,357 2,933,880 9,825,045 10,780,664 4,626,334 915,838 8,295,588 586,874 148,000 1,617,902

Value Traded 48,413.84 48,413.84

Current Price 1.30 1.61 0.50

Quantity Traded Page 2,500,460 40,000 20 2,540,480

Value Traded 53,250,598.00 of 13 64,400.00 10.00 3,315,008.00

Current Price 3.25 3.60 15.60 4.20 0.53 26.00 2.34

Quantity Traded 1,574,667 808,187 136,302,928 833,714 302,438 1,838,772 4,684,333 146,345,039

Value Traded 5,130,646.78 2,889,334.89 2,126,414,588.81 3,460,704.34 165,271.52 47,804,587.15 10,982,934.50 2,196,848,067.99

271,862,270

3,182,597,538.69

No. of Deals 1 1

Current Price 0.50

Quantity Traded 400 400

Value Traded 200.00 200.00

Symbol EVANSMED FIDSON

No. of Deals 6 21

Current Price 2.40 3.10

Quantity Traded 13,595 1,010,466

Value Traded 31,268.50 3,040,793.81

Page

Current Price 5.00 15.20

Quantity Traded 900 10 910

Value Traded 4,680.00 159.60 4,839.60

No. of Deals 1 1

Current Price 2.21

Quantity Traded 500 500

Value Traded 1,105.00 1,105.00

Symbol ETRANZACT

111,897 Page

Daily Summary (Equities)

Symbol ASHAKACEM BERGER

No. of Deals 87 9

Current Price 29.00 9.00

69,047.06 of 13

Quantity Traded 2,436,384 109,887

Value Traded 71,141,025.92 961,151.97

Value Traded 254,341.96 254,341.96

Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals

Symbol BETAGLAS

No. of Deals 2 2

Current Price 16.59

Quantity Traded 9,917 9,917

Value Traded 164,622.20 164,622.20

4,230,526

174,022,961.22

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. Daily Summary as ofOIL 27/06/2014 FORTE PLC. Printed 27/06/2014 MOBIL14:46:41.041 OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

SERVICES Apparel Retailers LENNARDS (NIG) PLC. Apparel Retailers Totals

Quantity Traded 57,212 57,212

Symbol UNIONDAC

No. of Deals 1 1 2

235 Symbol BOCGAS

No. of Deals 1 1

Current Price 5.76

Quantity Traded Page 500

Symbol MULTIVERSE

No. of Deals 1

Current Price 0.50

Quantity Traded 105,000

Value Traded 52,500.00

Symbol

No. of Deals 1

Current Price

Quantity Traded Page 105,000

9Value Traded of 13 52,500.00

Daily Summary (Equities)

500

Value Traded of 13 2,750.00 2,750.00

105,500

55,250.00

Symbol JAPAULOIL

No. of Deals 96 96

Current Price 0.66

Quantity Traded 10,516,256 10,516,256

Value Traded 6,940,728.96 6,940,728.96

Symbol OANDO

No. of Deals 746 746

Current Price 27.36

Quantity Traded 21,155,782 21,155,782

Value Traded 571,841,546.79 571,841,546.79

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 78 88 243 18 9 15 451

Current Price 65.40 4.77 206.30 131.00 70.00 171.05

Quantity Traded 413,096 2,530,729 940,244 42,381 24,336 41,719 3,992,505

Value Traded 26,360,780.52 11,825,885.61 194,560,442.25 5,610,939.39 1,618,344.00 7,144,506.71 247,120,898.48

No. of Deals 11 11

Current Price 675.10

Quantity Traded 18,801 18,801

Value Traded 12,947,034.38 12,947,034.38

Daily Summary (Equities) Symbol SEPLAT

Value Traded 1,096,942.59 4 544,455.00 of 13 10,000.00 97,450.00 453,970.22 4,847,245.00 75,174.50 402,028.84 1,036,608.64 11,413.00 3,214,105.50 167,881.50 2,750.00 21,891,725.64 33,851,750.43

1,994

Symbol CWG NCR

Quantity Traded 138,670 138,670

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

Quantity Traded 1,304,884 499,500 Page 20,000 194,900 907,853 9,694,490 29,950 751,017 1,218,524 22,826 6,414,539 311,333 5,500 28,564,563 49,939,879

No. of Deals 68 17 367 47 6 41 76 622

Value Traded 500.00 500.00

Current Price 1.83

Activity Summary on Board EQTY

Current Price 0.84 1.09 0.50 0.50 0.50 0.50 2.50 0.54 0.85 0.50 0.53 0.53 0.50 0.80

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

Quantity Traded 1,000 1,000

No. of Deals 6 6

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

No. of Deals 27 3 1 1 8 4 3 10 20 2 12 6 2 105 204

No. of Deals 3 2 1 6

Current Price 0.50

Symbol CUTIX

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

Symbol AIICO CONTINSURE EQUITYASUR GNI INTENEGINS LASACO MANSARD MBENEFIT NEM NIGERINS OASISINS PRESTIGE STDINSURE WAPIC

Symbol ABBEYBDS INFINITY RESORTSAL

No. of Deals 1 1

NATURAL RESOURCES Totals

Value Traded 282,339,018.50 948,534,298.43

0.85

Symbol OMATEK

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

NATURAL RESOURCES

Quantity Traded 11,326,817 72,979,660

3 3

Value Traded 62,602.46 62,602.46

Value Traded 4,170,400.90 7,171,421.30 77,164,303.67 119,527.55 1,305,593.00 11,570,572.75 173,603,997.06

Current Price 25.00

NPFMCRFBK

Quantity Traded 109,487 109,487

Quantity Traded 104,719 641,682 327,548 103,137 254,430 104,152 4,081,939

Mining Services MULTIVERSE PLC

No. of Deals 203 1,159

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

Current Price 0.59

Current Price 40.00 11.14 240.00 1.11 5.14 111.40

Chemicals Totals

Value Traded 166,398,089.26 28,541,043.40 46,735,055.10 20,010,970.45 314,404,468.61 15,329,809.04 2,120,960.84 65,187,023.20 5,862,537.28 74,000.00 1,531,322.75

8,253,176.30

No. of Deals 24 33 38 5 6 25 227

Activity Summary on Board EQTY

1,702,489

Symbol CAP CCNN DANGCEM DNMEYER PORTPAINT WAPCO

Daily Summary as ofGOODS 27/06/2014 INDUSTRIAL Totals Printed 27/06/2014 14:46:41.041 NATURAL RESOURCES Chemicals Published by The Nigerian Exchange B.O.C.Stock GASES PLC. ©

Symbol ZENITHBANK

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

INDUSTRIAL GOODS Building Materials CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

Current Price 93.00

Value Traded 4,247,987.81 576,490.35 354,935.83 1,500.00 8,252,976.30

No. of Deals 7 7

Daily Summary (Equities)

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC Activity Summary on Board EQTY BERGER PAINTS PLC

No. of Deals 12 12

Symbol PZ

Processing Systems E-TRANZACT INTERNATIONAL PLC Activity Summary on Board EQTY DailyProcessing Summary as of 27/06/2014 Systems Totals Printed 27/06/2014 14:46:41.041 ICT

Quantity Traded 65,875 326,330 284,823 1,000 1,702,089

Symbol COURTVILLE

Symbol 7UP

Daily Summary (Equities)

Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals Daily Summary as of 27/06/2014 IT Services Printed 27/06/2014 14:46:41.041 COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. IT Services Totals

Current Price 65.00 1.78 1.26 1.50

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

No. of Deals 21 21

CONSTRUCTION/REAL ESTATE Totals

No. of Deals 9 20 11 1 68

HEALTHCARE Totals

Symbol COSTAIN

Building Structure/Completion/Other Totals

Symbol GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

1,304

35,683,344 Page

838,850,208.61 10 of 13

Symbol LENNARDS

No. of Deals 1 1

Current Price 3.15

Quantity Traded 51,000 51,000

Value Traded 160,650.00 160,650.00

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

Symbol RTBRISCOE

No. of Deals 22 22

Current Price 1.03

Quantity Traded 786,014 786,014

Value Traded 790,458.57 790,458.57

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

Symbol REDSTAREX TRANSEXPR

No. of Deals 28 5 33

Current Price 5.17 2.07

Quantity Traded 1,300,748 190,297 1,491,045

Value Traded 6,695,866.84 391,687.50 7,087,554.34

Symbol CILEASING

No. of Deals 20 20

Current Price 0.52

Quantity Traded 3,522,655 3,522,655

Value Traded 1,832,779.48 1,832,779.48

Symbol TANTALIZER

No. of Deals 1 1

Current Price 0.50

Quantity Traded 50 50

Value Traded 25.00 25.00

Symbol IKEJAHOTEL

No. of Deals 6

Current Price 0.83

Quantity Traded 327,500

Value Traded 274,870.00

Symbol

No. of Deals 6

Current Price

Quantity Traded Page 327,500

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

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 1 8 10 19

Current Price 1.71 1.57 4.47

Quantity Traded 11,000 877,067 282,356 1,170,423

Value Traded 17,930.00 1,378,335.19 1,251,002.00 2,647,267.19

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 63 63

Current Price 0.94

Quantity Traded 7,264,420 7,264,420

Value Traded 6,814,035.64 6,814,035.64

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

Symbol AIRSERVICE NAHCO

No. of Deals 7 35 42

Current Price 2.45 4.99

Quantity Traded 39,420 1,158,526 1,197,946

Value Traded 97,588.00 5,771,530.18 5,869,118.18

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

Symbol CAVERTON

No. of Deals 61 61

Current Price 6.56

Quantity Traded 868,836 868,836

Value Traded 5,741,385.68 5,741,385.68

Employment Solutions Daily Summary of 27/06/2014 C &as I LEASING PLC. Printed 27/06/2014 14:46:41.041 Employment Solutions Totals Hospitality TANTALIZERS PLC Hospitality Totals Hotels/Lodging IKEJA HOTEL PLC

Daily Summary (Equities)

Daily Summary as of 27/06/2014 SERVICES Totals Printed 27/06/2014 14:46:41.041

EQTY Board Totals Equity Activity Totals

268

16,679,889

31,218,144.08

4,789

361,229,839

4,990,880,444.42

4,789

Value Traded 11 of 13 274,870.00

361,229,839

Page

4,990,880,444.42 12

Daily Summary (ETP) Exchange Traded Fund

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

Symbol NEWGOLD VETGRIF30

No. of Deals 1 2 3

Current Price 2,077.00 19.13

Quantity Traded 12 551 563

Value Traded 24,924.00 10,579.13 35,503.13

ETF Board Totals

563

35,503.13

ETP Activity Totals

563

35,503.13

38 BUSINESS | MOVERS, SHAKERS & CAREER

Matthew Willsher becomes Etisalat CEO

New CFO for MTN Nigeria

TN Group has named Ferdi Moolman as Chief Finance Officer of its Nigerian subsidiary. Moolman was moved from the company’s Iranian subsidiary, Irancell, to Nigeria to succeed Andrew Bing. President and Chief Executive Officer, MTN Group, Sifiso Dabengwa, said in a congratulatory message that a few executive movements had taken place within the group affecting Nigeria, Uganda and Iran.

tisalat Nigeria has announced the appointment of Matthew Charles Willsher as its new Chief Executive Officer (CEO). Willsher previously held the position of Chief Commercial Officer and has been the Acting, Chief Executive Officer since August 2013, in place of Steven Evans. According to the firm, under one year of Willsher’s leadership, Etisalat has recorded over 20 per cent growth in its customer base, increase in spend per customer, significant strengthening of margins, and maintained the top position on customer satisfaction. Willsher, a physics graduate from the prestigious University of Oxford and a holder of a Masters degree in Management from McGill University, started his career in brand management at Procter & Gamble. He joined Etisalat Nigeria with over 20 years experience in telecommunications. Prior to his coming to Etisalat Nigeria, he was Executive Vice President, Marketing at Etisalat Group from 2011 to 2013. He also served as Chief Marketing Officer and Head of the company’s consumer business from 2008 to 2011 at Maxis, the leading telecommunications operator in Malaysia and an innovative operator that overtook the incumbent operator in Malaysia to become number one. From 2005 to 2008, Willsher was Chief Operating Officer in CSL Limited, the largest mobile operator in Hong Kong; and before this, he spent four years at Telstra Australia where he occupied a number of leadership positions. Willsher’s blue-chip career also includes managing a range of consumer products for BT in the UK, leading marketing for BT’s mobile operator joint venture with LG Telecom in South Korea.

Sanctity of Truth

Monday, June 30, 2014

TICT appoints new CEO, acquires five more RTGs Bayo Akomolafe Can Island Container TtheinTerminal (TICT), one of terminal operators at

Willsher

Chairman of Etisalat Nigeria, Mr. Hakeem Belo-Osagie, said, “Matthew’s creativity and deep understanding of emerging markets has played a pivotal role in Etisalat’s strengthened market position in the highly competitive telecommunications industry. He brings with him the vision, passion and years of experience from diverse environments which have sustained the execution of our priorities providing superior customer experience, sustained network quality and increase in our operational excellence. We look forward to the continued leadership that he has brought to the company.” The company said that since Willsher’s assumption of the

position of acting CEO in 2013, its market position has been reinforced with an increased focus on sales channels, customer service, segment marketing and new self-service channels and increased operational efficiency. Willsher’s leadership has also led to the creation of a wide variety of innovative programmes including the first loyalty proposition in the Nigerian telecommunication industry, Etisalat GEM. Another is the educational tool in the youth market, Cliqlite; as well as the launch of the new state of the art gold series flagship experience centres, a revolutionary retail experience driven by the essence of the Etisalat brand.

Tincan Port, has appointed Mr Etienne Rocher as the new Chief Executive Officer to midwife its operations at the ports. Rocher, 48, took over from Mr. Yehuda Kotik who will remain as the company chairman. A French national, Rocher has over 25 years management experience in shipping and ports gained in diverse cultural environments in Europe, India sub continent and Africa - including leading Tangier-Med/ Morocco Greenfield Container Terminal development and start of operations from 2005 through 2011. He worked in Bollore Africa Logistics headquarters in Paris

work with good prospects and challenges presented by the global extractive industry. “Her record of non-executive director appointments, activist involvement and industry advisory board service is also an excellent complementary skill set to our Board,” Hayward said. Hayward is the former BP boss and was appointed a couple of months back to head the board of Glencore. The chairman replaced Sir John Bond, who was dramatically ousted from the position of chairman at Glencore board early last year after 80 percent of institutional investors opposed his idea of retaining payments for Xstrata managers. He had been functioning as interim chairman at Glencore from late last May. Hayward was pushed out of BP almost five years ago for allegedly mismanaging the Deepwater Horizon oil spill in the Gulf of Mexico. He raised the

ire of Americans when – during the Gulf of Mexico’s oil spill – declared: “I want my life back.” He made this claim in the aftershock of the oil spill which saw 11 people killed and BP left with about $40 billion in compensation costs.

before his new appointment in Nigeria. “I look forward to a great work experience here in Nigeria. Our company is committed to investing in the port and making significant contributions to port development in Nigeria,” the new TICT CEO, who has formally assumed office, stated. He said that the company’s investment at its terminal at Tin Can Island Port Complex, Lagos, has grown to over N16 billion over the past eight years. Rocher also disclosed that the company took delivery of five new additional Rubber Tyre Gantry (RTG) cranes, bringing the total number of RTGs at the terminal to 15. “This will certainly boost productivity and assist us in serving our customers better,” he said.

Efekoha emerges deputy chairman, Nigeria Insurers Association he Managing Director, ConTance solidated Hallmark InsurPlc, Eddie Efekoha, has

and London listJhasohannesburg ed resources firm, Glencore, Glencore makes trailblazer appointed Patrice Merrin, the former Chief Operating Of- non-executive director ficer of Sherritt, the Canadian diversified miner, to its board of directors. This is a sign that the newly-appointed chairman of Glencore, Tony Hayward, is strengthening his team to make Glencore a respected competitor in the global resources sector. Merrin has been appointed an independent non-executive director of Glencore with immediate effect. Merrin is also the former CEO of Luscar, Canada’s biggest thermal coal producer, and currently a nonexecutive director of Stillwater Mining listed in New York Stock Exchange (NYSE). She was elected as a director of Stillwater after she was recommended by activist investors in a proxy contest. Lately, she was also recommended by activists for the boards of MFC Industrial and Cliffs Natural Resources. Hayward said Merrin’s intensity of knowledge of operating across the resources sector will support the board’s ability to

Moolman will be replaced as chief operations officer of MTN Irancell by Mazen Mroue, head of MTN Uganda, while Brian Gouldie moves to the top position in Uganda from MTN South Africa, where he was chief marketing officer. 'We are delighted that we are able to fill these executive management positions from within our leadership ranks, in line with our leadership development strategy,' said Dabengwa.

Efekoha

emerged the Deputy Chairman of the Nigerian Insurers Association (NIA), the umbrella body of all insurance companies in the country. He defeated the Managing Director of Staco Insurance Plc, Mr. Sakiru Oyeseso, in a keenly contested election conducted at the 43rd Annual General Meeting (AGM) of the association in Lagos. Efekoha pulled 31 votes out of 44 cast, while Oyefeso got 13.

Minister instructs SABC to appoint CEO he South African BroadcastTbeen ing Corporation (SABC) has instructed by the coun-

try’s Minister of Communications Faith Muthambi to appoint a new chief executive officer (CEO) within the next three months. Muthambi was addressing the media in Cape Town last week about the department’s forthcoming plans. SABC CEO Lulama Mokhobo resigned in February amidst allegations of being part of the pubic protectors

investigation of the SABC for abuse of power and misadministration within the institution.Since the,n Tian Olivier has stepped in as acting CEO. According to the SABC, Mokhobo’s reasons for leaving were “private and confidential”. The minister has now said it is time for the public broadcaster to appoint another CEO. “I have recently indicated to the SABC to ensure that we can appoint a chief executive officer within the next three

months,” she said. “All other entities will also be attended to and pronouncements in this regard will be done after consultation with their leadership. Although we are a shareholder ministry we are determined that the boards of directors must do their work without needing the minister to interfere into their operations.” However, she said the ministry would step in wherever necessary so long as it is within the law.

BUSINESS | GLOBAL NEWS 39

Sanctity of Truth

Monday, June 30, 2014

UK business investment bounces back

K business investment has risen to its highest level since the financial crisis, in a further sign the economic recovery is becoming more balanced. In the first three months of the year, business investment was 10.6 per cent higher than the same period last year. It has now grown for five consecutive quarters, raising hopes of a sustained recovery in investment.

Climate change will cost big business dearly, report warns

In a raft of official releases from the Office for National Statistics, there was further good news in the balance of payment figures, with the UK’s current account deficit falling to 4.4 per cent of gross domestic product in the first quarter, down from 5.7 per cent in the final three months of last year. However, growth for the first quarter of the year was confirmed at 0.8 per cent, with overall growth for 2013 also unrevised at 1.7 per cent for the year, disappointing City expectations of upward revisions. Chris Williamson, chief economist at survey data com-

pany Markit, said the lack of upward revisions to GDP increased the chances that interest rates will remain on hold until next year. But he said policy makers would be “cheered by news the upturn is being supported by rising business investment, which makes for a more sustainable economic recovery.” Bank of England Governor, Mark Carney told MPs that the timing of the first increase in interest rates would be governed by shifts in economic data. On Friday, he shrugged off criticism that he has been giving mixed signals over the tim-

ing of increases, describing the issue as a “shorter-term question” which would be decided by “nine individuals on the Monetary Policy Committee”. Speaking on the Today programme, Mr Carney said the economy was performing even better than the Bank had expected, with unemployment and inflation both falling. “In terms of delivering, we are delivering,” he said. Samuel Tombs, senior UK economist at Capital Economics, said there was good news in the detail of the release with the household saving rate rising slightly, adding it

Asian shares sink after Wall Street losses sian markets were mostly Alosses lower Friday following on Wall Street fuelled

limate change will cost the U.S. economy dearly in the form of property damage, lost output and even deaths, a nonpartisan group backed by a trio of some of the heaviest hitters in the world of business. According to a report published by the so-called Risky Business Project, between $66 billion and $106 billion worth of existing coastal property will likely be below sea level by 2050 in America alone, with $238 billion to $507 billion worth of property below sea level by 2100. Temperature changes driven by greenhouse gas will require about $12 billion a year to build new power plants capable of producing as much as 95 gigawatts of electricity (about the equivalent of roughly 300 coal or natural-gas plants). It said American industry needs to start factoring weather and environmental-related losses into the cost of doing business, and take tangible steps toward reducing carbon emissions. The group describes itself as nonpartisan and is chaired by former New York City mayor Michael R. Bloomberg, former treasury secretary Henry M. Paulson Jr. and Thomas F. Steyer, a former hedge fund manager. Higher sea levels combining with storm surges will cost the Eastern Seaboard and Gulf of Mexico coastlines up to $35 billion a year. Increased drought and flooding will lead to a decline in crop yields of about 10 per cent per year, on average, for farmers. The productivity of outdoor workers will decline by about three per cent per year as America begins to experience three times as many days where the outside temperature is higher than 35 C every year. "Every year that goes by without a comprehensive public and private sector response to climate change is a year that locks in future climate events that will have a far more devastating effect on our local, regional, and national economies," warn the report's authors. "We have a choice whether we accept the climate risks laid out above or whether we get on another path. This is not a problem for another day.

was “reassuring that households did not have to save less to fund the 0.8 per cent rise in real spending.” Figures for the service sector confirmed the picture of robust economic growth, increasing 3.1 per cent in the year to April compared to the previous year. Separate unofficial figures from the GfK consumer confidence survey showed consumers’ confidence in the economic outlook is now at the strongest level since September 1997.

Japanese robotic scientist, Hiroshi Ishiguro, second from left, and National Museum of Emerging Science and Innovation (Miraikan) director, Mamoru Mori, second from right, pose with Kodomoroid, left, and Otonaroid, right.

Senegal shows way for South Africa, Nigeria to Islamic bonds enegal beat South Africa Ssub-Saharan and Nigeria to market with Africa’s biggest

sovereign sukuk, clearing the path for the continent’s biggest economies to follow with debut Islamic bonds. Senegal opened a sale this week for 100 billion CFA francs ($208 million) of the debt that will close July 18, tapping a global market that may surpass record issuance of $46.5 billion in 2012, according to arrangers. Worldwide offerings rose 27 percent to $24.4 billion in 2014 from a year earlier, data compiled by Bloomberg show. Gambia, which shares a border with Senegal, sells sukuk maturing in less than a year weekly, with yields on 91-day notes falling 117 basis points this year to 14.89 percent. “Other governments on the continent will be watching the issuance with interest,” Sarah Tzinieris, principal Africa analyst at Bath, U.K.-based risk advisory company Maplecroft, said in an e-mailed response to questions on June 25. “With the market still relatively undeveloped in sub-Saha-

ran Africa, the first countries issuing sukuk bonds - such as Senegal are in a strong position to position themselves as African hubs for Islamic finance.” South Africa, which has the continent’s largest stock and bond exchanges, plans to issue a sukuk this year, the National Treasury said in April. A sukuk is part of Nigeria’s strategic framework through 2017, Patience Oniha, the Abuja-based Debt Management Office market development director, said. Kenya may offer sukuk to broaden its investor base, Treasury Secretary Henry Rotich said two days ago. Nigeria’s Osun State sold 10 billion naira ($61 million) of Islamic debt in September, the first state in the country to sell sukuk. Since coming to power in the West African nation in 2012, Senegalese President Macky Sall has shut or combined 59 state agencies and allocated more money to curb water and power cuts in the capital, Dakar. He audited the administration of his predecessor, Abdoulaye Wade, and set up a court to try economic crimes, while

reducing Senegal’s inflation rate. Senegal’s economy is set to expand 4.6 percent this year, the fastest pace since 2007, and 4.8 percent in 2015, according to the International Monetary Fund. “Senegal is issuing sukuk bonds before more developed markets in North Africa, such as Morocco and Tunisia, reflecting the investment-minded approach of the Macky Sall government, as well as its crucial need to raise capital,” Tzinieris said. The sukuk issuance comes as Senegal plans to sell its second Eurobond, with the nation seeking to raise $500 million by July. Standard Chartered Plc, Societe Generale SA’s local unit and Citigroup Inc. have been appointed to manage the offering, Ange Constantin Mancabou, an adviser to Finance Minister Amadou Ba, said. Yields on its notes due May 2021 have dropped 87 basis points this year to 5.98 percent yesterday. The average yield on African dollar bonds dipped to a one-year low of 4.97 percent on May 29, JPMorgan Chase & Co. indexes show.

by anaemic US consumer spending, while the dollar and euro extended losses against the yen. Investors were taking a breather ahead of the release next week of key economic data, including on global manufacturing activity, US jobs and Japanese business confidence. Tokyo tumbled 1.39 percent, or 213.49 points, to 15,095.00 as the strong yen hit exporters, Sydney fell 0.35 percent, or 19.2 points, to close at 5,445.1 and Seoul slipped 0.33 percent, or 6.54 points, to 1,988.51. Shanghai closed 0.11 percent lower, giving up 2.17 points to 2,036.51 but Hong Kong reversed earlier losses to finish 0.10 percent higher, adding 23.69 points to 23,221.52. In New York the three main indexes ended lower Thursday after the government released figures showing consumer spending, which accounts for more than two-thirds of US economic activity, rose just 0.2 percent in May after a flat April. The figures came a day after news that the economy shrank a lot more than first thought in January-March, leading to worries that a recovery is still fragile.. The Dow eased 0.13 percent and the S&P 500 dipped 0.12 percent, having both touched record highs at the end of last week. The Nasdaq was flat. On currency markets the dollar, which sank in New York after the weak spending data, fell further in Tokyo. The greenback bought 101.42 yen compared with 101.70 yen in New York and 101.79 yen in Tokyo earlier Thursday. The euro also dropped, buying 138.16 yen, down from 138.42 in US trade and well off the 138.78 yen Thursday in Asia. The single currency was at $1.3619 against $1.3609. Oil prices which have been sitting at nine-month highs because of the Iraq crisis edged higher. US benchmark West Texas Intermediate was up five cents at $105.89, while Brent crude added seven cents to $113.28. Gold fetched $1,316.77 an ounce at 0813 GMT compared with $1,312.60 late Wednesday.

40 BUSINESS | GLOBAL NEWS

Sanctity of Truth

Monday, June 30, 2014

ABB sells steel structures business to Trinity Industries for $600m S wiss engineering group ABB has said it has agreed to sell Thomas & Betts’ steel structures business to Trinity Industries Inc for $600 million (352.41 million pounds) in cash, part of a plan to sell off assets outside its core expertise. ABB, which is pruning its portfolio under new Chief Executive, Ulrich Spiesshofer, said it expected the sale to close in

the third quarter of this year, subject to regulatory approval. The sale is the latest in a string of divestments by the Zurich-based company as industrial groups focus on their core strengths to ride out a tentative economic recovery. “This divestment is in line with our strategy for continuous portfolio optimization and reflects the limited synergies

that the steel structures business has with our core business,” Spiesshofer said in a statement. Shares in ABB were trading up 0.5 percent at 20.41 francs by 1231 GMT (01.31 p.m. BST) compared to a 0.3 percent firmer European Industrial Goods and Services. ABB was looking to hive off parts of Thomas & Betts Corp,

the U.S. electrical components maker it acquired two years ago for $3.9 billion, and from PowerOne Inc, the U.S. solar energy company it bought for about $1 billion last year. In March, ABB agreed to sell Thomas & Betts’ heating, ventilation and air conditioning business to U.S. conglomerate Nortek for $260 million in cash. It also sold the assets of Bal-

dor’s generator-set business to Generac Holdings last October for an undisclosed price. Thomas & Betts’ Meyer Steel Structures business manufactures steel mono pole structures for utility companies in North America. The Memphis, Tennessee-based firm employs more than 1,100 people and has four U.S.-based manufacturing sites.

Japan consumer price growth at 32-year high

onsumer prices in Japan rose at an annual rate of 3.4 per cent in May, the fastest pace in 32 years, as the effect of the sales tax hike started to be felt. Japan raised its sales tax rate from 5 per cent to 8 per cent on 1 April. The price growth in May follows a 3.2 per cent jump in April and is a big boost for Japan's attempt to trigger inflation. Japan has been battling deflation, or falling prices, for best part of the past two decades and that has hurt domestic demand and stifled growth. The Japanese government has taken various steps over the past few months to try and reverse this trend, and the country's central bank has set a target of a 2 per cent inflation rate. The measures, which include boosting the country's money supply, have started to have an impact and consumer prices in the country have now risen for 12 months in a row. Virtually the entire surge in the consumer price index (CPI) over the past two months can be

he European Union has signed an historic freetrade pact with Ukraine and warned it could impose more sanctions on Moscow unless pro-Russian rebels act to wind down the crisis in the east of the country by today. Ukrainian President, Petro Poroshenko, came to Brussels to sign a far-reaching trade and political cooperation agreement with the EU that has been at the heart of months of deadly violence and upheaval in his country, drawing an immediate threat of "grave consequences" from Russia. Georgia and Moldova signed similar deals, holding out the prospect of deep economic integration and unfettered access to the EU's 500 million citizens, but alarming Moscow which is concerned about losing influence over former Soviet republics. EU leaders meeting in Brussels demanded that, by Monday, Ukrainian rebels agree to ceasefire verification arrangements, return border checkpoints to Kiev authorities, free hostages and launch serious talks on implementing Poroshenko's peace plan.

attributed to April's consumption tax hike. Policymakers have been hoping that once prices start to rise, consumers and business will be encouraged to start spending and not hold back on purchases, as they may have to pay more later on. The tax hike in April was the first in 17 years. The increase comes as Japan is facing rising social welfare costs due to an ageing population. At the same time, the country is trying to rein in its public debt - which at nearly 230 per cent of its gross domestic product (GDP) is the highest among industrialised nations. The tax hike is expected to help ease some of the financial burden of the government. At the same time, the increase may also help to trigger inflation as businesses pass on the hike to consumers, resulting in increased prices of goods. Some analysts said that the inflation data of the past two months indicated that so far businesses had been doing that.

L-R: European Commission President, Jose Manuel Barroso, Ukraine's President, Petro Poroshenko and European Council President, Herman Van Rompuy, at the EU Council in Brussels.

EU signs trade pact with Ukraine, threatens sanctions on Russia "We expect progress in the next hours," German Chancellor Angela Merkel said. "If we don't see any steps forward on any of the points, then we are also prepared to take drastic measures." EU leaders said they were ready to meet again at any time to adopt significant sanctions on Russia. Diplomats said they could target new people and companies with asset freezes as early as next week. More than 60 names are already on the list. Although it has drawn up a list of hard-hitting economic sanctions against Russia, the EU is still hesitating over deploying them because of fears among some member states of antagonizing their major energy supplier. "We are talking about possible sanctions against Russia but we do not have to introduce sanctions for the sake of sanctions. We do have a need for a dialogue. I hope this dialogue

will take place and we will have a real ceasefire," Poroshenko told a news conference in Brussels. Poroshenko has drawn up a 15-point peace plan to defuse the crisis in eastern Ukraine, where hundreds of people have been killed in clashes between security forces and pro-Russian rebels. A week-long ceasefire is due to expire later on Friday. Poroshenko said on Friday he would take a decision on extending a ceasefire in the east of the country when he returns to Kiev following an EU summit in Brussels. But, according to two EU diplomats, Poroshenko told the leaders of France and Germany he was proposing to extend the ceasefire by 72 hours, coinciding with the EU's deadline. Ukraine, Georgia and Moldova have made clear their ultimate goal is EU entry but Brussels, under pressure from voters weary of further expan-

sion, has made no promise it will allow them in. Ukraine's former pro-Moscow President Viktor Yanukovich turned his back on signing the EU agreement last November in favor of closer ties with Moscow, prompting months of street protests that eventually led to his fleeing the country. Soon afterwards, Russia annexed Ukraine's Crimea region, drawing outrage and sanctions from the United States and EU, and pro-Russian separatists began an uprising in eastern Ukraine. "Over the last months, Ukraine paid the highest possible price to make her European dreams come true," Poroshenko said, calling Friday's accord the most important day for his country since independence from the crumbling Soviet Union in 1991. Symbolically, he signed the agreement with the same pen that had been prepared for Ya-

nukovich to sign the document last year. Russia's Deputy Foreign Minister Grigory Karasin immediately said the signing would have "grave consequences" for Ukraine, Interfax news agency reported. Poroshenko urged the EU to reward Ukraine for its sacrifices by promising the country would be eligible for membership of the EU once it was ready. The pledge would "cost the EU nothing but would mean the world to my country", he said. European Council President Herman Van Rompuy said Friday's deals were "not the final stage of our cooperation", but this fell short of the prospect of ultimate EU membership. Moldovan Prime Minister Iurie Leanca has also set his sights on EU membership, saying that he hoped his country would apply to join in the second half of 2015. Russia, which fought a war with Georgia in 2008, has met previous attempts by its neighbors to move closer to the EU with trade reprisals. EU officials fear it could happen again.

ENTREPRENEUR

MONDAY, JUNE 30, 2014

4 questions successful entrepreneurs ask when growing a business

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Matthew Toren

lthough the definition of success is subjective, there seem to be some common themes among the ultra-successful about what success really means. Very rarely does it have to do with money alone. In fact, none of these five inspiring entrepreneurs mention money at all. No, success is something much more personal and universal -- it’s all in the meaning behind the action. So here are five quotes about success from five mega-successful entrepreneurs.

“My definition of success? The more you’re actively and practically engaged, the more successful you will feel.” – Richard Branson

Holly Magister

y personal experience has taught me that growing a business, whether organically or by acquisition, is never easy. Coupled with my experience working with other entrepreneurs who are distracted easily by shiny, new opportunities, I recognized the need to develop a quick way to assess or evaluate new ways to grow a business. These four simple questions have served as a valuable tool to set boundaries for quick-start entrepreneurs by preventing them from pursuing unprofitable, costly new lines of business, partnerships, business acquisitions, etc. Doing The Math Really Does Matter The first step in evaluating a new opportunity is to compute the potential gross profit margin to be earned. Although the astute entrepreneur instinctively knows when new business will provide a healthy gross profit margin, doing the math is time well-spent. And when the additional revenue from a new opportunity is significant, or at least sufficient enough to ultimately contribute to the net profitability of the business, it has passed the first and most important test. Ask this Question: After paying the costs associated

Ask this Question: Are there customers in the marketplace who have money and are asking and/or looking for this product/service now? with producing and delivering the product/service, what percentage of the dollar paid by the customer remains to cover the operating expenses? Compare the expected gross profit margin from the new business opportunity to your present GPM. Is it more or less? Generally speaking, if the GPM is less than 33%, it’s difficult to make a profit in the long term and is wise to consider other opportunities. Avoid Commodities or Die By Them I can’t take credit for this line. A very successful entrepreneur I know drilled this mantra into my head several decades ago and it has stuck. And for good reason, it’s painfully true. Commodities come in many forms and it’s really important to consider carefully how a business can become commoditized if you seriously intend to grow a business. Ultimately, the gross profit margin in a com-

moditized business, product, or service line shrinks over time and eventually forces all but the leanest players out of business. Price competition makes it a race to the bottom! On the other hand, if a business has an element of exclusivity, be it by the way it delivers its product or service, sources its raw materials, or enjoys exceptional authority in the marketplace, the likelihood of success increases greatly. Ask this Question: Is there some element of exclusivity in the new business, product or service delivery model I am exploring? If the answer is no, it’s only a matter of time before the new business, product or service will become a commodity. Such an opportunity is rarely worth development. Never Believe You Have Enough Money to Create Market Demand Many entrepreneurs fail to recognize how costly it is to start a new business while they simultaneously create market demand for its products and/ or services. Raising the capital needed to simply start a business can be a daunting task. And creating market demand from scratch is terribly expensive and rarely achieved. Although I am the first to applaud disruptive industries, my experience has taught me that CO N T I N U E D O N PAG E 4 3

Sir Richard Branson is the UK billionaire behind the Virgin Empire of brands that include mobile carriers, a record label and a series of international airline routes. Yet to Branson, what’s most important for success is that interactivity with the work itself. What gets you fired up? What are you passionate about? The more you’re actively engaged in the work you love, the more successful you’ll feel and most likely from the feeling, become. Love what you do for maximum success.

“My definition of failure became not trying, not the outcome.” – Sara Blakely

While Sara Blakely’s quote is technically the definition of failure, it’s the crux of what success is: to try and try and not be afraid of failure. Success comes to those who are willing to try and risk and fail and stand up to do it all over again. Like Blakely says, failing isn’t the outcome, it’s not trying at all. Success can only come from being willing to fail. Considering that Blakely is the world’s youngest female self-made billionaire she seems innately qualified to talk about success and the need for your willingness to fail as part of the journey. “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful entrepreneurs is perseverance.” – Steve Jobs

If the key to success thus far is that you must be willing to fail and be actively engaged in your work, the next step toward success must certainly be to persevere. Success can come slowly and as the result of many, many trials and years of effort. It’s those who quit, like those who never try, that won’t make it through to success.

4 tips for attracting that bit of luck every entrepreneur needs Jason Womack

ometimes, as the adage advises sagely, a little luck is the best plan. Here are four things you can do to increase the likelihood that good things will come your way. Each one is designed to put you in a better position to advance toward whatever is your goal Visualize, don’t wish. One thing I’ve tried to never do is make wish lists. I try to

have a very steppingstone mentality about this whole thing, where as soon as you make one step you visualize the next step, not five steps ahead. -- Taylor Swift At the end of a particularly taxing day, feeling stressed and overwhelmed, a mentor asked me a simple question with complex answers: “Jason,” he said, “would you know a good day if you saw one?” Open a notebook to a fresh

page, and write tomorrow’s date on top. For just five minutes, write as much as you can to describe what would happen tomorrow, if it were a good one. At the end of those five minutes, read what you wrote and ask yourself, “What can I do today to get ready for tomorrow?” Know when you’re at your best. Every job is good if you do your best and work hard. A man who works hard stinks only to the ones that have nothing to

do but smell. -- Laura Ingalls Wilder One Sunday evening many years ago, I experienced one of “those” travel days. Near midnight, I decided to drive from Chicago to Cleveland Heights, Ohio, to fulfill my commitment to be “on stage” for a client the next morning. At about 4 a.m., halfway there, I stopped to fill the tank with gas. In those few minutes, I opened my notebook CONTINUED ON PAGE42

The definition of success, according to 5 entrepreneur superstars Jobs reminds you that much of success in life is continuing to come back and keep going. It may seem easy to look at other entrepreneurs and assume their success came overnight, yet rarely is that the case. By the time these “overnight successes” come to your attention, they’ve usually put in years or even decades of long, hard work. Don’t quit. “Remember: If the most unique ideas were obvious to everyone, there wouldn’t be entrepreneurs. The one thing that every entrepreneurial journey has in common is that there are many, many steps on the road to success.” -- Tori Burch

Tori Burch is the successful entrepreneur behind the Tori Burch fashion line brand. Burch talks a lot to other entrepreneurs about the importance of hard work and the belief in yourself to be and do your own unique thing. Entering the fashion industry is certainly not a simple task, and it would be easy for an entrepreneur to think that in a crowded industry there was little room for success. Yet Burch has created a multi-billion dollar brand just by keeping true to the fashion and vision she loves and her belief that other women would want the same style. Don’t get intimidated by others in your industry who are headed for success. Your journey will have lots of steps but ultimately being yourself and believing in what you have to offer will carry you through. “I like to be involved in things that change the world.” – Elon Musk

From Paypal, Tesla, Solar City, to SpaceX, Musk has certainly been a man involved in things that are changing the world. Ultimately, that seems to be where his success comes from, and it gets back to Branson’s original point: Do the things you’re passionate about. Musk wanted to change the market and the perception of the electric vehicle. He’s achieved that mission with Tesla. Put your power and your work behind the things you’re truly passionate about and you just might change the world. Musk certainly has. – Culled from Entrepreneur.com

42 BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 30, 2014

also critical to trust your gut. Often your first idea is the best and your first inkling is correct. Furthermore, if things go wrong – you will have no one to blame but yourself.

What to expect when you're ceo of a successful startup

3. Ban the phrase “other people’s money (OPM).” Every entrepreneur should always behave as if the money they are spending is theirs. People often become lackadaisical when they internalize that they are using OPM. And a startup cannot afford to be frivolous with resources.

Vance Loiselle

eading a startup is analogous to being a first-time parent. You can read books and articles, you can talk to others that have been through it, but no one can ever fully determine what it’s like until he or she experiences it first-hand. Since joining Sumo Logic as a first-time CEO in 2012, it has been quite a ride. Boiling down the experience of my first two years as a CEO of Sumo Logic, I have found eight tenets that I want

Mark W. Guay

kay, you can't really "teach" entrepreneurship. It's an experience, not so much a content-area like history. As Sir Richard Branson put it in a recent interview about implementing enterprise culture at schools, "The best way of learning about anything is doing." That said, teachers all around the world are finding ways to bring entrepreneurship into their instruction. Why? Because in a world with fewer jobs and the increasing ability to make a living off of your passion, it just makes sense. Here are 5 Tips to Teach Entrepreneurship 1. Teach The Structure of Design Thinking Using these terms helps provide concrete details for the adolescent brain. Here are the steps in summary. The Steps of Design Thinking: 1. Understand the need (a.k.a. Identify the problem) 2. Observe the market 3. Define the problem in detail 4. Ideate possible solutions 5. Prototype possible solutions 6. Take the best prototype and test, test, test it out. Remember, during the prototyping stage, students get to practice their idea and the classroom can be an incredibly valuable place to learn failure. 2. Use Writing as a Medium to Explore One's Passions. Many students really struggle to identify what their passions are. It's a very reflective meta-cognitive skill that requires complex thinking and a level of vulnerability many feel uncomfortable to share. Using writing as a tool to explore passions can often be a safe way to chart out what students like and dislike. A simple method? Give students 1:1 access to the internet and ask them to watch a TED

to share: 1. Few will understand your process or state of mind. Many will try, but few will succeed in understanding the investment of time, emotion and energy associated with leading a start-up company. Though it is difficult,

accepting the isolated nature of being a leader is important. This acceptance will embolden you to move forward with your work rather than exert energy to seek the understanding or acceptance of others. It’s lonely. Get over it. 2. Listen to your gut. En-

5 tips to "teach" entrepreneurship to students

talk. Then, ask students to journal their thoughts, including if they could see themselves doing something similar with their own life, making sure to explain why or why not. Take it one step further and ask students to share their thoughts with another classmate and write a short response to one another, much like adults do on a popular site like Harvard Business Review or here at The Huffington Post. 3. Show a Variety of Examples to Tap into a Student's Interests: TED or 99u talks, for instance. Whether or not you use writing as a vehicle to explore passions, TED talks and 99u talks work very well to expose students to innovative ideas and content that students may otherwise never see. One of the greatest roadblocks for students who don't get this exposure is the resulting achievement gap. This gap is created when one student

raised in a privileged setting is exposed to a far greater variety of experiences than a student raised in a disadvantaged setting. Like Sugata Mitra discovered with his School in the Cloud experiment, the internet can provide students with the content knowledge needed to learn anything and rise above socioeconomic limitations. 4. Centralize the Unit with a Text. To organize a teaching unit, teachers can pull content from a number of texts with a reading level suitable for adolescents. For instance, "Start Something That Matters" and "Kidpreneurs" offers straight-forward easy-to-follow information to help take a napkin idea to viable business model. In "Start Something That Matters," Blake Mycoskie tells his story of how he started TOMS, a popular shoe company that has both been a highly successful business and has also

trepreneurs receive a landslide of advice from well-meaning colleagues, friends and family – even total strangers offering advice in columns such as this one. But, even the best advice can prove worthless when it is heeded in the wrong situation. So while it is important to appreciate good advice, it is greatly helped the disadvantaged in the developing world by providing them with shoes on a one-for-one business model. For every shoe purchased, a person in need of shoes in the developing world receives a pair for free. Blake shares how he started the business of TOMS in a campfire storytelling format and also provides a very easyto-read breakdown of how students can also create a social purpose business. TOMS also includes a study guide to help teachersso they can include this book into their lesson plans. The reading level is young adult. Another helpful text, "Kidpreneurs," taps into the playful nature with starting up and taking an idea into a viable working business model. 5. What if Students Make Money from their Classwork? Okay, by all means there is far more to life than making money, but tapping into this extrinsic motivation does more than provide lunch money. When students actually practice taking their idea into the market, students own their learning and can feel empowered. Also, it's during practice that students practice their math, their effective rhetorical use of a language, and their need to think scientifically with design thinking to create an effective business plan. Keep in mind that money is only one form of currency. Students can barter their unique genius, food, or use their talent to help another classmate's project in exchange for a similar agreement. That's business to business (B2B) exchange, isn't it? Please leave a comment below and share other helpful sources teachers can use to teach entrepreneurship in the classroom. –Culled from HuffingtonPost

4. Believe in karma. I’ve seen many people sabotage their careers with arrogance. You never know how people will enter, exit and re-enter your life. Especially in Silicon Valley, where the entry level engineer today is tomorrow the startup founder on the rise. It is important to plant your feet firmly on the ground, keep a level head and be courteous to everyone you meet. As the old saying goes, “Keep your words sweet, you may have to eat them one day.” 5. Listen more than you speak. You don’t learn too much while you’re speaking. However, I learn many things during brainstorms with my team. A good leader listens first and speaks last. This will allow you to see all sides of a situation before weighing in. Silicon Valley is home to some of the brightest people in the world. What is the point in hiring them if you do not make time to listen to their ideas? 6. People matter. Though technology is a focal point of many businesses, people are still the foundation of the business. People are still the decision-makers. So it behooves the leader of a company to find the best people and create an environment they want to come to every day. Balancing the needs of people with the needs of the business will go a long way when scaling the business. 7. Your investors are a great resource. Working with high-quality venture capitalists (VCs) can change everything for a startup company in Silicon Valley. Their access to customers, top talent and strategic partners is invaluable. For Sumo Logic, our VC partners, Greylock, Sutter Hill Accel and Sequoia, have been instrumental in bringing us amazing talent and marquee customers. Venture capitalists make a living on identifying the right markets with the right teams with the right momentum. Markets and momentum can swing though, so be sure to secure funding when you are on the way up. Belief in your mission inspires. As unoriginal as it sounds, you must believe in yourself and your company more than anyone else. If you are not passionate, your employees, investors and customers will not get passionate about your company. In many ways, enthusiasm and belief in your vision is the most important asset of any entrepreneur. – Culled from Entrepreneur.com

BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 30, 2014

Teach entrepreneurship to cut graduate unemployment

Martin Bosompem

igher education students need practical skills to be employable, or employ themselves, says Martin Bosompem. Africa has the most youthful population in the world, with estimates suggesting young people make up 60 to 70 per cent of the total population, but too few have access to jobs. Unemployment among graduates is becoming one of the most serious problems facing youth in the continent. One major factor contributing to graduate unemployment is the defectiveeducation system, which focuses too much on theoretical teaching. There is next-to none of the practical training needed to either be employed in the job market, or become self-employed. Fixing this calls for making big changes in how governments conceive the higher educational system, as well as formulating policies to encourage businesses to start-up and then stay sustainable. Curriculum change Changes in African higher education systems must focus first on drastically reforming curriculums. These need to be practice-oriented and demanddriven. And they need to instil entrepreneurial competencies among graduates from all programmes and subjects. This is necessary because at present practical training is so

poor that many graduates are not employable, even in the few jobs available. Employers usually spend their own resources on re-training those that they choose to hire before these new staff can become productive. In addition to curriculum reform, higher education systems should be adequately resourced in terms of both infrastructure and the personnel needed to train students. And as part of their training, students need to be linked up with industries and firms through internship programmes. Entrepreneurship education is rare in most higher education systems in Sub-Saharan Africa. Even when it exists, it focuses more on helping students in business and economics programmes. But it should be part and parcel of the system in all fields — from the arts through to the pure sciences, agriculture, the social sciences and even medical schools. Incubators in universities Entrepreneurship training should focus on helping students develop viable business plans that they could start after graduation. One way of achieving this is by establishing ‘business incubators’ within universities. Such incubators can serve as a place where students nurture their business ideas and plans, and even try them at a micro scale before they start them up in the real world. A good example, from my own institution, is the Univer-

CO N T I N U E D F R O M PA G E 4 1

and on top of a blank page I wrote, “I’m at my best when…” Then, I filled in the blank lines with the kinds of things I could do over the following four hours to “increase the likelihood” that I’d have a good day with the client group that had hired me. Do it. Write your own list of 5-10 “conditions” for you to be at your best. Make sure they are 100 percent in your control, and 100 percent believable that they could happen. Want some examples? Just visit the website: www.AtMyBestWhen.com Build your team I am a member of a team, and I rely on the team, I defer to it and sacrifice for

sity of Cape Coast Business Incubator in Cape Coast, Ghana. The incubator provides students with infrastructure — an office space with equipment — as well as technical and financial support. Even though the incubator is housed in the Business School, it offers assistance to students in any programme in the university, provided that the student has a solid start-up business idea. An entrepreneurial development agenda for higher education must put a priority focus on agriculture and agribusiness which, according to the latest World Bank report on Agribusiness in Africa, should kick-start economic transformation in Sub-Saharan Africa by the year 2030. [1] Curriculums that encourage agribusiness would need to focus on mechanised farming and modern technologies for agriculturalproduction, such as precision agriculture — ICT-based farm management systems. They would also need to focus on processing, preservation, value addition and other aspects of the agricultural value chain. Broader help for start-ups But starting up businesses, especially in the agribusiness sector, is not just a matter for higher education policy. It also needs to be encouraged with broader policy changes by African governments. Despite the fact that most African countries have policies and laws governing aspects of

4 questions successful entrepreneurs ask CO N T I N U E D F R O M PA G E 4 1

establishing a business, such as copyright and patents, these laws are scarcely enforced. Many innovators have their works copied, or even stolen, but they get no help from law enforcement agencies. And protecting intellectual property is not the only challenge. My research shows that many graduates in agriculture are not willing to start their own businesses because of the apparent risks associated with such a venture. [2] Financial institutions take similar stands, and are often unwilling to provide credit facilities to those graduates and others who are bold enough to start a new venture. Also, in many African countries there are no dedicated insurance policies available that can protect agribusiness against times of trouble. Implementing policies that make it easier to start up a business, along with changes in the higher educational system — from creating curriculums that are practical and market oriented to instilling entrepreneurial skills — could go a long way to minimising graduate unemployment in Sub-Saharan Africa. Martin Bosompem is a lecturer at the Department of Agricultural Economics and Extension, School of Agriculture, University of Cape Coast in Ghana. He can be contacted at mbosompem@ucc.edu.gh and on Twitter @mbosompe

Apple’s iPhone success is an outlier. And you are not Steve Jobs. Ask this Question: Are there customers in the marketplace who have money and are asking and/or looking for this product/service now? If you have to put a second mortgage on your house while you’re convincing the world they need your product or service, the risk is too high and there are better ways to grow your business. Submit to the Strengths Test Before Firing the Green Light Every entrepreneur has his strengths and the smart ones know exactly what they are not good at doing! Extremely successful entrepreneurs delegate every weakness they have to others who excel in the task or skill. When considering a new business opportunity, carefully consider how compatible it is to your innate skill set and personal interests. Ask this Question: If on a given day in the new business, I was forced to step in to perform a job in one of my employee’s absence, would I be able to pitch hit or would I be in misery? Your answer says it all. Be Willing to Say ‘No’ to the Great Opportunity Many entrepreneurs find success with their initial business offering and many, many more do not. The business failure rates in the first five years of business ownership are staggering and well-known. Nonetheless, for those who do succeed initially, many of them think they will succeed at whatever business opportunity they chose to pursue. In fact, this assumption is so common among first-time entrepreneurs that observers refer to this type of entrepreneur’s thinking as the entrepreneur who believes he has the Midas touch. Unfortunately, in the real world, successfully launching multiple lines of business in succession is a rarity, especially if launching occurs before answering these four questions, and particularly so when the entrepreneur is unwilling to say ‘no’ to that great new opportunity! Have you said ‘no’ to opportunities to grow your business? Let’s talk about your ‘why.’ I’d love to hear from you!

– Culled from SciDevNet.net

– Culled from Forbes.com

4 tips for attracting that bit of luck every entrepreneur needs it, because the team, not the individual, is the ultimate champion. -- Mia Hamm Just the other day I heard my wife and business partner, Jodi, talking about about founding her small-business advising firm. My wife explained, in great detail, the effect her previous job had on her overall mental health. She was stressed. She was sad. She was sick. Sunday afternoons she started feeling depressed. Thursday mornings she started living for Friday night. It wasn’t a healthy life… Today, make a list of the 10 people who play a positive role in your business AND personal life. Then, over the next month,

reach out to each person, twice, in ways that develop the relationship positively. Measure the right feedback I don’t care what people say about my relationship; I don’t care what they say about my boobs. People are buying my songs; I have a sold-out tour. I’m getting incredible feedback from my music.'' -Katy Perry Back about 15 years ago, I was a firstyear high school teacher. The entire school district was focused on showing some marked, objective improvement that the students were making throughout the year. Each student was going to

complete the same curriculum and be assessed the same way at the end of the year. You have ask yourself, what is it all worth to you to experience the success you’re marching toward? If you take the time right now, some 15 minutes, that’s all, to identify a specific target you’re marching toward, you can break that down in to different parts. So, start that 15 minute timer (click here), take out some paper, and give yourself the gift of your attention and plan your future. – Culled from Entrepreneur.com

44 BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 30, 2014

The hard truth about entrepreneurship Laura Lorek

ntrepreneurship can empower ordinary people to do extraordinary things. Yet a huge disconnect exists between what is being taught about entrepreneurship and what they are really doing, said Gary Schoeniger, co-founder and CEO of the Entrepreneurial Learning Initiative. And the myths lead people to the wrong conclusions, he said. In fact, the typical Inc. 500 startup has no new technology or Intellectual Property and the entrepreneurs are not writing business plans, Schoeniger said. “They have little or no formal planning,” he said. “Their market research is ad hoc instead of in depth, the median startup capital is about $10,000 coming from credit cards, second mortgages, friends, fools and family.” And 40 percent have no experience in their chosen field, he said. Schoeniger could not find a curriculum to explain how entrepreneurs actually operate so he created the Ice House Program. It is based on the book “Who Owns the Ice House” with interviews of ore than 300 successful entrepreneurs. He wrote the book with Clifton L. Taulbert, one of the inventors of the Stairmaster.The Ice House Entrepreneurship Program is designed to teach the entrepreneurial mindset. Peter French, president of Cafe Commerce, brought Schoeniger to San Antonio to teach the program to San Antonio entrepreneurs. Schoeniger spoke for two hours Monday night to a group from Café Commerce in San Antonio about the Ice House Program, funded by the Ewing Marion Kauffman Foundation of Kansas City. During his talk, Schoeniger dispelled some Silicon Valley stories about entrepreneurs getting rich quick and coming up with earth-shattering innovations with the goal of making entrepreneurship accessible to everyone. The need for entrepreneurship is huge, Schoeniger said. Studies show that 70 percent of all American workers are not engaged in their work, he said. “Five us are flapping our paddles in the water and only three of us are pulling the whole boat,” he said. Jason’s Story To illustrate how transformative en-

trepreneurial thinking can be, Schoeniger recounted the story of Jason Campbell. He was a 12-year-old boy in his fourth foster home when Schoeniger met him. “Jason never knew a father,” he said. “His mom was in prison for the fourth time in his life.” Schoeniger took Jason in. He went to work on weekends with him at a construction management firm. At 15, Jason went to live with his mom, but that didn’t last because his mom went back to prison during his junior year. At the time, Jason had a 1.7 GPA. He dropped out of high school to work at Appleby’s full time. He wanted autonomy. “I convinced him that movie had already been made and it didn’t end well,” Schoeniger said. “I wasn’t looking to be a hero. I knew the kid. I knew he was bright. I felt like I had no choice but to get custody of him and grab hold.” Jason enrolled in high school and got a minimum wage job at a construction site. But six weeks into the job, Jason told Schoeniger he hated the job and he wanted to become an entrepreneur. Schoeniger helped him launch “Jason’s Jobsite Cleanup” with a shop vac, push broom, mop, bucket and some fliers. Schoeniger told Jason to charge $20 an hour even though Jason normally made $6 an hour. “That terrified him,” Schoeniger said. It was outside his realm of understanding. “It’s like I pushed him in the pool,” he said. Jason spent his first day as an entrepreneur driving around in his 1986 Toyota Corolla looking for a customer. He was afraid to get out of his car. He had a fear of behaving in a way outside of societal norms, Schoeniger said. When he did approach a group of construction workers, they laughed at him and offered him a job at $8 an hour. Jason said no thanks I own my own business. “They laughed at him, but he thought that’s survivable,” Schoeniger said. He kept pitching his service and his pitch got better. He also had to pitch to the decision makers and not the workers. But when he pitched to an owner, the guy turned him down and Jason wanted to lower the price. “So often when we are behaving in

these new ways we are looking for excuses to go back to the old ways,” Schoeniger said. The fifth or sixth time he encountered a builder the magic happened, Schoeniger said. The owner gave Jason an address of a house and told him to go there and tell him how much it would cost to clean it. Jason estimated it would take four hours and offered to do the job for $75. He got the job. It actually took eight hours. But after a few jobs, the man saw Jason was reliable and consistent and he started recommending Jason for other jobs. Jason hired two of his friends to work for him at $10 an hour. “Which end of that transaction do you want to be on?” Schoeniger asked. Jason graduated from high school, joined the Marine Corps. Special Forces and served two tours of duty in Iraq. Then he graduated with a B.A. in international relations from San Francisco State University. Looking back on his experience as an entrepreneur, Jason said the fact that he was reliable was the key to his success. He also saw other people’s problems as opportunities. He would leave the house at 5 a.m. to go clean construction sites before school. “This was the same job that he hated working for someone else,” Schoeniger said. The impact of entrepreneurship on Jason was so profound; Schoeniger began teaching a course on entrepreneurship at a local high school. One of his students received a $100,000 contract to clean parking lots. “I got a call from his father and he asked if there was any way he could take the class,” Schoeniger said. That’s what led to the creation of the Ice House program, Schoeniger said. Schoeniger met his co-author Taulbert in Tulsa. Taulbert, who was born to a teenage mom in the Mississippi Delta and picked cotton as a child, learned to be an entrepreneur from his Uncle Cleve. Uncle Cleve owned the Ice House. He had four other businesses. He had money in the bank but he still drove an old car and people in the community ridiculed Uncle Cleve because he deviated from societal norms. “It’s very difficult to make entrepreneurship education formulaic,” Schoe-

niger said. That’s why Schoeniger dislikes articles in Inc. Magazine, Forbes that assign attributes to entrepreneurship with titles like “Do you have what it takes to be an entrepreneur?” “They are assigning the wrong cause to the effect,” Schoeniger said. People need to stop looking at characteristics and instead create the circumstances that allow entrepreneurs to thrive, Schoeniger said. Entrepreneurs have to survive in resource-constrained environments and they develop traits to do that really quickly. “It’s up to each of us as individuals to figure out how to do something useful,” Schoeniger said. “I don’t care if it’s washing windows, curing cancer or making sandwiches.” Money is a horrible motivator, Schoeniger said. “Jason hated the job when he was told to do it,” he said. “He was completely immersed in it when he had ownership of it.” From his research, Schoeniger concluded it’s important for entrepreneurs to hang out with people who are entrepreneurial. They also have to have an entrepreneurial mindset or perspective. And lastly, the situational facts that will push you down the path are important, Schoeniger said. “It’s actually an advantage when you have nothing to lose,” he said. “The naiveté works for you.” That’s because highly uncertain niche opportunities take years of being in the market and just scratching away – that’s how entrepreneurs uncover what’s otherwise undiscoverable, Schoeniger said. “If you knew how hard it would be you would never get on the path,” he said. “You’re probably better off working for somebody else financially speaking.” “The Silicon Valley stories pollute our thinking,” he said. “We start to think it should be easy. If I just had the right idea, someone should be throwing money at me.” In reality, it takes eight years to get to $1 million in revenue. “It’s not about getting rich quick,” he said. LAURA LOREK is the Founder of Silicon Hills News Culled from SiliconHillNews.com

Sanctity of Truth

Monday, June 30, 2014

UPP condoles with New Telegraph over Bisalla's death •As NLC condemns blast

Party (UPP) commiserated with the management of New Telegraph More Nigerians join in for losing a vibrant promourning Managing fessional in the industry. A statement signed Editor, North by the National Chairman, UPP, Chief CheKenneth Tyohemba and kwas Okorie, said the party was deeply touched Yekeen Nurudeen Abuja by the death of one of country’s foremost jours New Telegraph nalists, adding that he mourns the sudden died at a time his serdemise of its Man- vices were needed most. aging Editor, Mr. Su“We, however, appreleiman Bisalla, who was ciate the fact that the killed in last week’s bomb quality of leadership blast at Emab Plaza in he provided in his last Wuse, Abuja, more Nige- position as Managing rians, at the weekend, con- Editor (North), continued to send condolences tributed massively to to the newspaper. the public’s acceptance In one of the condolenc- of New Telegraph,” it es, the United Progressives added.

MOURNING

Banks’ loan policy, bane of business growth, says Are Sola Adeyemo

Ibadan

hairman, Kakanfo Inn and Conference Centre, Ibadan, Dr. Lekan Are, has implored financial institutions in Nigeria to offer long-term lending and reduce interest rate on lending to promote development and growth in the country. The industrialist spoke at the maiden edition of Capital Bancorp Plc’s Customers’ Forum held at Kakanfo Inn, Ibadan, at the weekend. As the Chairman of the occasion, Are said that banks' rigidity and the complex short-term loans being offered, were responsible for the death of many business initiatives, with more on the verge of collapse after taking such loans from banks and other financial institutions. He said: “Most of the banks in Nigeria only take money from customers; they do not offer any help when needed. They ask for unreasonable and impossible conditions before accepting to offer a little loan.

“They hide other charges and add-ons that increase their profit and kill investors. These are some of the reasons why small businesses are not growing in Nigeria, because the investor will continue to pay the bank's high interest rate on the loan until his business packs up.” Making reference to his experience as an investor, Are said: “When I was building the hotel 26 years ago, most banks I approached were only ready to give me a loan that would be repaid in 24 months. It took me a long time to persuade one bank to give me seven years as repayment period. “I even paid back in five years two months. I am not happy that our financial institutions don’t give long-term loans. I have been a customer in a bank in the United States since 1978. When the hotel was getting ready, I travelled to Germany to buy the fittings. I bought more than the money I had, but the bank paid the excess of $87,000 I incurred with soft repayment plan.

‘Why terrorism reigns' Dominic Adewole

ASABA

acts emerged yesterday from a former Senior Special Assistant to late President Umar Yar’Adua on Policy, Mr. Clement Ofuani, on why Nigeria is wallowing in insecurity. The special adviser said the nation’s obsolete security structure must be overhauled if the war against Boko Haram must be won. Ofuani, a chartered accountant, and pioneer Commissioner for Economic Planning during the administration of Chief

James Ibori in delta State, wondered why the present security structure, which has outlived its usefulness in intelligence gathering, was still been adopted. According to him, the security structure, which has stayed for over 50 years, should be revamped. Ofuani, also a former Senior Special Assistant on Presidential Matters to President Goodluck Jonathan, said this during a visit to the leaders of the Peoples Democratic Party (PDP) in Ukwuani, Ika North-East and Ika South Local Government areas of state.

This was even as the Nigerian Labour Congress (NLC), at the weekend, condemned last week’s bomb blast at Emab Plaza, which left several persons dead and others injured. The NLC described the incident as a desperate act by evil-minded persons to kill the robust Nigerian spirit by instilling fear in the people. The umbrella body of the Nigerian workers stated this in a statement issued in Abuja yesterday by its acting Secretary General, Chris Uyot. The NLC while condemning what it called a cowardly act, urged Nigerians not to be cowed, but to resolve to fight this ter-

ror with a common front. “These wicked souls are a tiny minority and do not represent the Nigerian spirit. We can beat them and we shall beat them. Our strength lies in amicably sorting out our differences and suspicions as well as strengthening our internal governance regime and institutions. It is evident that our traducers do not discriminate in their campaign of slaughter and destruction,” it said. The body also called for the judicious use of the resources allocated to fight terrorism, noting that time has come for Nigerians to be more vigilant by way of tak-

Euro19.9bn The overall size of the European soccer market in 2013. Source: Goal.com

ing basic deterrent measures capable of delaying or preventing terrorists from striking at will. It also urged the Federal Government to appropriately equip the security forces as well as teach them the art of speedy screening of vehicles in order to avoid gridlock. “Our security forces, especially the ones at road check points should resist the temptation of creating vulnerable situations for terrorists to strike. “Accordingly, we urge the government to appropriately equip them as well as teach them the art of speedily screening vehicles in order to avoid build-ups.

50%

The percentage of thermal power sector of national water withdrawals in several countries in 2010. Source: Unesco.org

“We also wish to note that build-ups on the road impact negatively on productivity. Efforts should be made to make them less painful,” it said. In another development, a group under the umbrella of Independent Hajj Reporters expressed shock over the blast that claimed the life of ‘a dear colleague.’ A statement signed by its National Coordinator, Ibrahim Muhammed, and Publicity Secretary, Abubakar Mahmoud, said Bisalla’s death was a blow to the journalism profession, condemning in strong terms, the cascading bombings and killings of innocent Nigerians.

1.03m

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

L-R: Regional Sales Manager, Sweetco Foods Limited, Mr. Tharun George: Deputy Manager, National Lottery Regulatory Commission, Mr. Niyi Adeleke; Brand Strategist, NTA-Star TV Network Limited, Ayokunle Idowu and Brand/Marketing Manager, Mr. Habeeb Somoye, during the second draw of the on-going StarTimes ExtraTimes promo in Lagos PHOTO: GODWIN IREKHE

Osun 2014: Monarchs endorse Omisore Adeolu Adeyemo

OSOGBO

onarchs in Ayedire LoM cal Government area of Osun State, at the weekend,

endorsed the candidature of the Peoples Democratic Party (PDP) governorship flag-bearer, Senator Iyiola Omisore, in the race to the August 9 election in the state. The monarchs, who assured Omisore of their support when he visited towns and villages in the local government, described him as a humble politician with outstanding experience. While receiving Omisore in their palaces, the Olupo of Olupona, Oba Oyeleso Oyebanji and the Olu of Ile-Ogbo, Oba Habeeb Adetoyose Agbaje,

urged Senator Omisore to provide potable water for his communities. They also appealed to him to accord the people of the area the rightful position they deserve if elected governor. In his response, Omisore assured the people that if elected, “my administration would provide potable water and standard roads for you and will not let you down in any way.” The governor also promised to construct the Lagelu-Olupona-Gbongan road that would ease traffic congestion in the area, saying that; “I will be committed to creating wealth if elected by patronising indigenous contractors and artisans in the execution of developmental projects.”

Gold mining: Aregbesola signs MoU with Australian firm Adeolu Adeyemo

OSOGBO

State governor, Othesun Rauf Aregbesola, at weekend, signed a

Memorandum of Understanding (MoU) with an Australian mining firm, Andalusian Mining Industry, with a plea to the firm not to destroy people's means of livelihood and the environment in the course of prospecting for gold in the state. The signing of the MOU will give the company the legal right to mine gold at Itagunmodi in Ilesa, where gold is found in commercial quantities after a geological survey has been conducted. In his speech during

the signing of the MoU at the Government House, Osogbo, Governor Aregbesola said; “The discovery has presented the state with good opportunity to partner with Andalusian in the breakdown, exploration and mining of gold in the state, and the people would look forward to having maximum advantage of the mining firm's presence. “The government looks forward to a speedy operation and intervention in the prospecting for gold before the end of the year. “We also express hope that the state has joined the league of non-oil mineral producing states in the country."

46 NEWS

Sanctity of Truth

Monday, June 30, 2014

New councils: Ekiti lawmaker faults Fayemi's action LANDMINE

Controversy continues to trail Ekiti governor's bid to balkanise the state Adesina Wahab Ado-Ekiti

member of the Ekiti State House of Assembly, Ajibola Samuel Oyedele, representing Ekiti East Constituency Two, has faulted the attempt by the state governor, Dr. Kayode Fayemi, to create additional 18 councils in

2.81m

the twilight of his tenure as unconstitutional and tantamount to setting landmines for the incoming administration. Oyedele, the only Peoples Democratic Party (PDP) member in the 26man Assembly, spoke in an interview with newsmen in Ado-Ekiti at the weekend. He wondered why Fayemi woke up to the necessity of creating new council areas barely four months to the end of his tenure. Faulting the governor's claims, he described the action as “executive rascality”. Oyedele advised Fay-

The total population of Taiyuan, China in 2010. Source: Blatantworld.com

emi to note that there was no way a referendum to create new councils could be carried out in parent LGs that are run by caretaker chairmen and appointed councillors, as such a development was unknown to the nation's constitution. Only elected council leadership was allowed to do so, he said. "You see now, when they refused to follow due process to allow legally-approved men and women to man the State Independent Electoral Commission for the body to conduct local government election, they did not know they were digging their own graves, as

The life expectancy (in years) of men at birth in Brazil in 2010-2015. Source: Un.org

no legitimate referendum can be carried out in LGs manned by caretaker chairmen and councillors," he asserted. Oyedele attributed the hurried action of the governor to post-election trauma, saying Fayemi and the APC were yet to recover from the heavy defeat suffered during the last governorship election. He said the governor did not follow due process before announcing to the public that he had carved out 18 Local Council Development Areas. The governor, he said, neglected the provisions of Section 8: Sub-sections

3.4%

The percentage of households with internet access at home in Africa region in 2010. Source: Itu.int

3 and 4 of the Nigerian Constitution, and failed to send a bill to the state Assembly, thereby undermining the existence of the legislative arm of the government. The lawmaker noted that the governor did not have the power to create any local government area without the approval of the State Assembly. He pointed out that people and the traditional ruler of Osi Town in Ido/ Osi Local Government Area of the state, were at the Assembly last Friday to protest over the creation of the council areas, lamenting that if referendum had been

carried and due process followed, such protest wouldn’t have been. The lawmaker said if Fayemi truly loves Ekiti State, he should not create any situation that would make Ekiti people to start fighting themselves after he might have left office, adding that if he chooses to create problem for Ekiti, the people would rise against him. Oyedele noted, "Where would the state get money to fund 18 new council areas when he has already put the state in debt and the existing 16 local government areas are not well-funded," he said.

Group lauds Jega over transfer of Osun REC Adeolu Adeyemo Osogbo

ollowing the re-deployFResident ment of Osun State Electoral Com-

missioner (REC), Mr Rufus Akeju, from the state, a human rights group, the Centre for Human Rights and Social Justice(CHRSJ) has commended the Independent National Electoral Commission (INEC) Chairman, Professor Attairu Jega. In a statement issued

and signed by the group's chairman, Adeniyi Alimi Sulaiman in Osogbo, it described his removal as a welcome development for the growth of democracy in the state. He said with his redeployment, there would be free, fair, credible and acceptable governorship poll in the state. Sulaiman said with this step, Jega he has written his name in gold as the chairman of the electoral body.

I’m not fighting Jukun, says Taraba acting gov Temitope Ogunbanke cting Governor of AGarba Taraba State, Alhaji Umar, has vowed

L-R: Prof. Amakievi Gabriel; Prof. Titilola Filani and Dr. Ibrahim Garba, during the National Conference in Abuja.

Court to begin hearing on Amnesty exclusion suit October 2 Chris Ejim, Yenagoa

he Federal High Court sitting in Bayelsa State has summoned the Special Adviser to the President on Niger Delta Affairs and the Chairman of the Amnesty Implementation Committee, Kingsley Kuku, to appear before it on October 2, 2014 for the commencement of hearing into a suit filed by 18 aggrived ex-militants over their alleged exclusion from the ongoing Amnesty programme by the Federal Government.

Justice I.E Ekwo also directed that the counsel to the aggrieved exmilitants (including Asenekiri Oyile, Angiama-Owei Oyindoubra, John Government, John Sawyer, Trydy Okpeke, Dollar Motor, Selebi Ayowei, Bombra Angese and Ekerebi Ombe) file separate processes in reply to the state for defence filed by councel to Kingsley Kuku (1st Defendant). Ekwo, at yesterday’s proceedings where the suit numbered FHC/ YNG/CS/102/2013, was called for said the Appli-

cants and the Defendants must be in court to commence hearing on the substantive suit. Appearing for the first defendant and Chief State Counsel, Sweet Okudoyi, told the court that her client (Kingsley Kuku) had filed a statement of defence in reply to the Originating Summon filed by the Applicants. E k wo h oweve r frowned at the counsel to the Applicants, Lucky Anya, over his failure to file separate processes in reply to the Statement of

Defence filed by the First Defendant. He noted that such processes should be filed for each of the aggrieved ex-militants. The aggrieved exmilitants had in the suit claimed that the Amnesty Committee erred by refusing to include them in the ongoing Amnesty programme after series of resolutions from meetings with the past and present National Security Advisers to the President, the late General Owei Azazi and Col. Sambo Dasuki respectively.

Environment: Lagos shuts oil-bunkering hideout Muritala Ayinla bout five companies Ajoint and an oil bunkering were shut down

by the Lagos State Government at the weekend over environmental degradation and violation of the state environmental laws.

They were shut by a combined team of policemen from the Lagos State Taskforce on Environmental and Special Offences (Enforcement) Unit and officials of the Zero Tolerance Department of the Lagos State Ministry of Environment who stormed sev-

eral areas in the state to enforce state environmental laws. Some of the areas stormed are Surulere, Ijesha, Cele, Baliet, Anthony and Jibowu. The team was led by the Assistant Chief Scientific Officer, Ministry of Environment, Ademola

Adegbite. The state government had earlier warned residents and companies, especially car dealers occupying walkways and other right of way in the state to vacate their premises, threatening to enforce its law on recalcitrant dealers.

to return lasting peace to the southern part of the state, saying that those spreading rumour of government complicity in the Wukari crisis are enemies of the state. Speaking to journalists through his Senior Special Assistant on Media and Publicity, Aaron Artimas, in Lagos yesterday, the Acting Governor also described the

rumour that the Jukun were target of the killings as false, describing those insinuating that he has declared war on Jukun in the Southern part of the state as the real enemies of peace among the Jukun and the region. He also disclosed that the government has continued to boost security of lives and property in the southern part of the state but some elements were bent on disparaging all efforts of the government.

Nigeria introduces new visa regime Temitope Sobowale oreign investors whose Fbusinesses dreams of berthing in Nigeria

had been deterred in the past by difficult visa processing may now heave a sigh of relief. This is because the Federal Government has introduced a new visa that could guarantee them fluid entry into the country. The new Visa regime, known as Nigeria Intelligent Visa Administration (NIVA), makes Nigeria the first in Africa to completely digitalise its visa acquisition procedure. Information from the

interior ministry revealed that the new visa administration would commence in less than three week across about 140 Nigeria’s foreign missions with a formal launch in London, United Kingdom. It is also expected to significantly increase the number of genuine visitors, especially business people that are granted entry permit into the country per year from the current estimate of over 400,000. This is in view of the renewed interest by foreign investors in the country since Nigeria’s economy was rebased as the largest in Africa.

Sanctity of Truth

Monday, June 30, 2014

NLC, govt unite against HIV/AIDS Yekeen Nurudeen

Abuja

L-R: General Manager, Air Conditioning and Energy Solutions Division, LG Electronics West Africa operations, Mr. Junhwa Jeong; Managing Director, Mr. Deog Jun Kim and Technical Manager, Air Conditioning and Energy Solutions Division, LG Electronics West Africa Operations, Mr. Vijay Bakshi, during the official launch of LG GEN COOL INVERTER V Air Conditioner, in Lagos

Doctors set for strike tomorrow Appolonia Adeyemi and Obinna Odoh

arely three weeks after the Nigeria Medical Association (NMA) addressed a press conference in Abuja, making several demands, ranging from salary increase and other welfare packages, medical doctors in all public hospitals nationwide are set to commence an indefinite strike tomorrow, Tuesday, July 1. Lagos State NMA Public Relations Officer, Dr. Ogunnubi Peters, told New Telegraph that no medical doctors will work in any public hospital from tomorrow. The decision to go on strike was based on the deadlock that greeted the dialogue between the NMA and the Federal Government at a meeting held in Abuja last week.

Although, gover nment had agreed to meet most of the demands of the doctors during the last strike that was suspended in January, Peters regretted that representatives of the government had feigned ignorance over the issues at last week’s meeting. According to the new President of the NMA, Dr. Kayode Obembe, among issues being demanded by the doctors are the immediate appointment of a Surgeon-General of the Federation, increment of hazard allowance to 1,000,000 monthly, the establishment of a health trust fund that will enhance the upgrading of all hospitals in the country, among others. Also, the association wants the position of the chief medical director/medical director for medical centres

Court to deliver judgment in Delta Central senatorial tussle Tunde Oyesina

ABUJA

he Federal High Court sitTdetermine ting in Abuja will today whether or not

it will cancel the bye-election that was held in Delta Central senatorial district on October 12, 2013, over alleged electoral fraud. The All Progressives Party (APC) and its candidate at the election, Mr. Oghenetega Emerhor, had filed a suit challenging the conduct of the bye election. Joined as defendants in the suit were the Peoples Democratic Party (PDP) and the Independent National Electoral Commission (INEC). The trial judge, Justice Evoh Chukwu, slated the matter for judgement after all the parties argued their

case and adopted their final written addresses. At the argument stage, the PDP had, in a preliminary objection it filed before the court, sought a dismissal of the suit on the premise that it not only lacked merit, but was equally bereft of competence. Besides, the PDP also challenged the jurisdiction of the high court to entertain the matter. Specifically, the plaintiffs, had in the suit, alleged that the PDP connived with one Mr. Olawale Dawodu, an official of INEC in Abuja and smuggled-in forged documents it said were relied upon to endorse the Nomination Form of Senator Edesiri Aguariavwodo, who eventually won the election.

reserved for doctors only as contained in the Act establishing the tertiary hospitals. He said: “This position remains sacrosanct and untouchable; the NMA henceforth shall not accept the continued violation of any of the terms of the 2009 collective bargaining agreement. Similarly, the doctors prefer the phrase ‘Ministries, Departments and Agencies’ to the Federal Ministry of Health Institutions as contained in the 2009 CONMESS circular. Speaking on the dealocked, Peters said the Federal Government is playing hide-and-seek with health care, urging Nigerians to put pressure on the government to meet the demands of doctors so as to avert the strike. He said with the stance of the government, it was doubtful whether it was

committed to addressing the doctors’ demands. Rather, he reasoned that the government was merely buying time by feigning ignorance of what the issues were. In a related development, President of the Association of Medical Laboratory Scientists of Nigeria (AMLSN) Dr. Godswill Okara, has accused the NMA of ar m-twisting the Federal Gover nment to renege in its commitment to sanitise and strengthen medical laboratory services and practice in the nation. Okara said this in a press conference he called at the weekend. He accused the NMA of forcing the government to withdraw the circular authorising the Medical Laboratory Science Council of Nigeria to approve licences for the importation of in vitro diagnostics (IVDS).

Amosun’s aide slams LP pecial Assistant to SIbikunle Ogun State governor, Amosun, Mr.

Olusola Balogun on Print Media has berated the Gbenga Daniel faction of the Labour Party (LP) in the state over its ill-advised criticism of last week’s interactive session the governor had with civil servants. A spokesperson of the factional LP, in a statement, said the meeting was a deceit meant to hoodwink the civil servants and a reaction to the Ekiti governorship election. However, Balogun dismissed the position of the factional LP as a figment of its own warped imagination and a further display of hollowness on the part of the former governors’ men.

He insisted that the meeting, which was part of activities slated to mark the 2014 civil service week, was not a reaction, but the governor’s way of showing affection to the civil servants and addressing issues that bothers on workers’ welfare. According to Balogun “If this factional spokesman was well infor med, he would have been told that the Head of Service, Mrs. Modupe Adekunle, explained in her opening speech at the beginning of the event tagged ‘A day with the governor’ that the event was postponed by seven days due to certain work schedules that involved both the governor and top civil servants in the state."

he Nigeria Labour Congress (NLC) in collaboration with the Canadian Labour Congress and the International Confederation of Trade Union/ Africa have concluded agreements between the union, government and employers’ representatives in Nigeria to assess the country’s progress toward complying with the only international standard on HIV/AIDS at the workplace. The agreement is also known as Recommendation 200 of the International Labour Organization (ILO). The parties have reaffirmed to a tripartite process for determining the scope and terms of reference of the national assessment. NLC Acting General Secretary, Chris Uyot, disclosed this in a statement he issued in Abuja yesterday. According to him, discussions are now underway with funding agencies to support the initiative, which would identify gaps in making the country’s workplaces stronger

instruments of change for addressing the pandemic through joint union/employer actions. He said NLC welcomed the agreement as one that could have a lasting impact on the lives of Nigerian workers and their families. Uyot further disclosed that the Federal Ministry of Labour and Productivity would drive the tripartite process with the involvement of the Federal Ministry of Health and with support from the ILO, ILOAIDS and UNAIDS. “Employers will be re presented by the Nigeria Employers’ Consultative Association (NECA) and the Nigerian Business Coalition against AIDS (NIBUCA). The process was also welcomed by the National Agency for the Control of AIDS (NACA). “R200 promotes inclusive dialogue between the three Nigerian players and deals also with the underpinnings of HIV/AIDS, including human rights, stigma and discrimination, inequality and gender issues,” he said.

OAU: Okei-Odumakin, others warn against framing up union leaders Mojeed Alabi gainst the allegation by authorities of the Obafemi Awolowo University (OAU), Ile-Ife, Osun State, that students’ union leaders of the institution are making use of cultists to stage protests against the new fees regime, human rights activist and President of Women Arise, a nongovernmental organisation, Dr. Joe Okei-Odumakin, yesterday joined the students’ leaders to debunk the allegation and warned against framing up the union leaders. At a media briefing held in Ikeja, Lagos, yesterday, Okei-Odumakin, who addressed newsmen in company of the union leaders and a legal counsel, Christian Love, said the students had been widely commended by members of the university community for being peaceful and orderly in their approach. She said the introduction of the new fees was not only anti-masses, but was also against the transfor mation agenda of President Goodluck Jonathan administration.

President of the Students’ Union, Ibikunle Isaac, in his presentation, said the closure of the campus could not deter the students from opposing the new fees, saying there was no justification for the closure. He also called on the authorities of the university to first reverse the increment and be prepared to engage the union in a meaningful debate. He said the university has access to more funding than the public is being made to know, while also alleging that the authorities received a grant of N140 million to build a project, but that till date, nothing was on ground. He said as a beneficiary of the recently released N200 billion to the universities, the institution must justify these resources before imposing the new “obnoxious fees.” Isaac also enjoined other stakeholders in the university system, including the newly elected executive members of the alumni association, the Federal Ministry of Education, NUC and former students’ leaders to intervene in the matter before allowing it to degenerate.

48 NEWS

Sanctity of Truth

Monday, June 30, 2014

Commissioner, journalists, others attacked during sanitation exercise

lChinese expatriate arrested for violation ATTACK Motor park touts go on rampgae in Eboyi, attacking commissioner's entourage Charles Onyekwere

Abakaliki

he Ebonyi State Commissioner for Environment, David Egbu, journalists of different national and local media organizations as well as environmental tasks force team were attacked by suspected motor park touts and artisans at the popular Ezzamgbo junction in Ohaukwu Local Government Area of the State. They also attacked

all those who joined the commissioner to monitor sanitation exercise in Abakaliki, the Ebonyi State capital and its environs. The touts numbering over 50 vandalized the Commissioner's official vehicle, beat up the State correspondent of National Mirror Newspaper, Mr. Godwin Aluina, and an official of Elite security agency and also attempted destroying the Video camera of Ebonyi State Broadcasting Corporation EBBC. New Telegraph gathered that trouble started when the team arrived the Ezzamgbo junction motor park to monitor the level of compliance of the people to the monthly sanitation exercise. The Commissioner observed as he got to

110,000

The estimated number of deaths due to cholera annually. Source: Unesco.org

the place that people were carrying out their commercial activities unrestricted. When they sighting the Commissioner and his team, most of them ignored him and continued their businesses. But the commissioner ordered that they be stopped and their equipment confiscated. The security agents and the tasksforce confiscated some vulcanizing machine and carried it into the Hilux Van of the Commissioner but immediately, a man suspected to be the Chairman of the park ordered his boys to bring down the confiscated machines. Immediately, over 50 touts and artisans besieged the tasksforce team and surrounded the Commissioner's vehicle and started bringing down

The number of Cameroun players at Brazil 2014 to have been called up to at least one previous FIFA World Cup. Source: Goal.com

the machines, when the team attempted stopping them, the touts ran inside the park, carried stones, log of woods, axe, machete and other dangerous weapons and attacked the team. The Commissioner, Journalist and some tasksforce members had to escape from the scene but the touts started throwing stones and other dangerous items at the official vehicle of the Commissioner and the bus conveying Journalists. Attempting to also escape, the tout got hold of one of the security team and beat him to a pulp while others descended on the National Mirror Correspondent hitting him with wood. New Telegraph also gathered that all plea made by Journalists and members of the tasksforce team for the police team

The number of newspaper journalists per 1m inhabitants of Fiji in 2002. Source: Blatantworld.com

at the junction to help rescue the journalist and the security agent proved abortive. The Police team rather than assist drove out from the scene of the incident. Also at Onu Ebonyi in Abakaliki Local Government Area of the State, the tasksforce team were also attacked while there vehicle was also vandalized by some irate youths from the area. Narrating his ordeal,

the driver of the bus who did not give his name who was seriously manhandled said that on getting to the place, they found out that the people complied and while he came down from the bus to urinate, over 30 youths pounced on them and started beating them. He noted that they had to abandon their vehicle to escape adding that on coming back, the vehicle has been vandalized by the youths.

SS, SE states take stiffer security measures Joe Obende

Warri

ore states in the South-South and South-East of the country have evolved new proactive security strategies to stem the influx of strange persons who have no business in their domains. This is coming on the heels of the arrested 486 persons believed to have links with the Boko Haram sect in a convoy of buses in Abia State. In Delta State, Governor Emmanuel Uduaghan, constituted a task force, headed by the Commissioner of Police, Mr. Ikechukwu Aduba,

with a mandate to fish out such persons, “know who they are, and accept them or evacuate them if they are illegal aliens.” “There is an influx of persons who make people uncomfortable in the state. We do not know them, we do not know who they are and they live everywhere. You find them in all sorts of places”, the governor said. The task force which membership includes the military, the State Security Services, the Immigration Services and the Nigerian Security and Civil Defence Corps has commenced work in the state.

Only Jonathan can order me to quit PDP – Oyinlola Adeolu Adeyemo

Osogbo

fforts to woo former goverEOlagunsoye nor of Osun state, Prince Oyinlola by the

L–R: Public Relations Manager, GOtv, Efe Obiomah; General Manager, Elizabeth Amkpa; Marketing Manager, Mr Dare Kafar and MultiChoice Super Dealer in Jos, Mr Abdul Wahid Yusuf, during the launch of GOtv’s digital migration campaign in Jos

Dangote Cement Plant excites Cameroun, to commence production soon

he Africa expansion drive of the Leading Cement manufacturers in Nigeria, Dangote Cement is paying off with the announcement by the management that its $150 million Cameroon plant would commence production in August barring any last minute hitch. T he company management explained that the 1.5 million tons per annum capacity plant was almost ready and would commence initial production at one million tons per annum before productions would be stepped to maximum

capacity. Conducting journalists round the factory in Douala, Cameroon, the General Manager, Abdulahi Baba stated that the cement plant would revolutionalise the cement industry in Cameroon and help stimulate the Eastern African economy as Dangote Cement would be churning out its known quality grade of 42.5 at a very competitive price. According to him, the plant is ready for test running and what remains to be completed are little engineering finishing as well

as access roads to the plant. Baba explained that the plant would be the most modern in Cameroon because of the latest technologies used in the construction from Germany, USA and France and put together by the renowned plant engineers, Sinoma. The Dangote Cement boss stated that the Company would be bringing in Clinker and that production would be carried out at the most environmental friendly level, pointing out that the dust emission by the

plant would be lower than the 50mm international standard. He noted that but for the soil test that was carried out which showed that the entire plant areas needed to be piled, the factory would have been ready earlier. Baba said Cameroonians were eager to see Dangote Cement commence operations at the Douala plant because of the exploit of the Company in other countries and that the Company had enjoyed cooperation both from the host communities and the government of the country.

Osun state chapter of the All Progressive Congress (APC) may be unrealistic as the exgovernor assured his political supporters and some leaders from the PDP that his commitment to the party remains unshakened. Oyinlola made the assurance at a meeting

reportedly held with some stakeholders of the party at his country home, Okuku. He was quoted to have said that he would never act against the precepts of the PDP. Sources at the meeting who preferred anonymity told News Telegraph that the meeting lasted several hours and that the former governor promised to work for the progress of the party as he is still its bonafide member.

Imo on the precipice of epidemics, says Ohakim Steve Uzoechi

OWERRI

mmediate past governor IOhakim of Imo State, Chief Ikedi has lent his voice

to the festering water crisis in Owerri, the Imo State capital, warning that with no single drop of pipe-borne water in the state capital in the last 38

months, that an epidemic looms in Owerri. Interacting with newsmen in his country home at Okohia, Isiala Mbano, council area of Imo State, Ohakim stated that at the time he left office in 2011, Imo State had 1,900 functional water infrastructure across the state.

NEWS 49

Sanctity of Truth

Monday, June 30, 2014

Niger Deltans insist on 100 per cent resource control CONFAB

Fair play, that is what Niger Delta delegates want from the country Joe Ezuma

Port Harcourt

s the National conference enters its critical areas of discourse in the coming weeks, the Niger

Delta Self Determination Movement (NDSDM) which comprises some of the region's delegates to the conference and civil society groups, said at the weekend in Port Harcourt that it wanted 100 per cent resource control for the region or the regional autonomy arrangement. The group, which organized a forum in Port Harcourt to renew its mandate from the people of the region and sound

their opinion on the stand, told its audience that despite all attempts to frustrate the yearnings of the region at the confab, the delegates had been able to cover some mileage . Those who addressed the people include, Ms. Ankio Briggs, Tony Nnadi of the Lower Nigeria Congress; Mr. Yunusa Yusuf, Sec. General of the Original Inhabitants of Abuja and Dr. Chris Akanni.

Addressing the gathering, Dr. Isaac Osuaka, one of the delegates, explained the reason for the Niger Delta position, saying,'' God did not create Nigeria, the British did and that is the reality that is confronting us now.'' Explaining why some entrenched interests are opposed to change and true federalism at the confab, Osuaka said: '' In every system, there is a beneficiary and the

beneficiary will do everything to sustain that system and it is that unjust system thrown up and sustained by the order that gave rise to Niger Delta agitation''. For Barrister Tony Nnadi,''What is currently going on at the conference is far from what President Goodluck Jonathan envisioned and those who are frustrating the conference are poking fingers into the president's eyes, tell-

ing him he did not come from the chosen tribe to do what he wants to do.'' On her part, Ankio Briggs said that at the outset, it was clear from the body language of the northern delegates that they were out to shoot down Niger Delta aspiration, but reminded Nigerians that they should be grateful that Jonathan became president because that was why the Niger Delta people scaled down their agitation.

2015: APC wants Uduaghan’s successor to come from Delta North Dominic Adewole ASABA

by the criUinnperturbed sis rocking his party Delta State, one of

the factional Chairmen of the All Progressives Congress (APC), Chief Isaac Tobore Ajueshi, has said that the governorship position in the party in 2015 has been zoned to Delta North senatorial district. Three chairmen, including Chief Adolor Okotie-Eboh of the defunct Action Congress of Nigeria (ACN), Prophet Jones Ode Erue, who emerged during the party’s recently concluded congress and Chief Ajueshi, are laying claim to the soul of the party in Delta State. Two secretariats of the party are functioning concurrently in Asaba, along the popular Nnebi-

si and West-End roads, in the state capital. Chief Ajueshi set up one of the secretariats after he was dumped by the national leadership of the party for Prophet Erue, having worked as the protem chairman of the party shortly after the merger. Speaking in Asaba, at the weekend, Chief Ajueshi said the party has concluded plans to produce a Delta North man as Governor Emmanuel Uduaghan’s successor next year. According to him, the party is currently working on two options. He said option ‘A’ concedes the plum position to Delta North or make it an all-comers’ affairs while option ‘B’ would only be enforced, if the people of Delta North failed to push forward a credible candidate.

NAFDAC issues August deadline to dealers Sola Adeyemo Ibadan

he National Agency for Tistration Food, Drugs Adminand Control

(NAFDAC) has read the riot act to dealers in veterinary medicines, pesticides and animal feeds in the country, saying anyone caught dealing in it without registration by August 2014, would face the wrath of the law. The warning was given in Ibadan by the Director General of the agency, Dr. Paul Orhii, while declaring open a day workshop on "Safe and Responsible use of Veterinary Medicines, Pesticides and Animal feeds." Orhii said that the agency would not go back on the August 2014 deadline it gave almost a year ago, when it asked all dealers in the business to have their products registered with the agency, insisting that appropriate sanctions would be visited on any defaulter. The DG, who was represented on the occasion

by the agency’s Director, Veterinary Medicine and Allied Products, Dr. Musa Umar, observed that compliance with the agency’s one- year moratorium granted on the distribution and sales of the unregistered items, was still low despite the August 2014 deadline. His words: ”Even though the one-year moratorium granted on the distribution and sale of unregistered veterinary medicines, pesticides and animal feeds ends in August 2014, the response to compliance is still very low. Assuredly, sanctions will follow at the appropriate time.” The NAFDAC Director General explained that the workshop was meant to create awareness on the need to produce safe food through safe and responsible use of veterinary medicines, pesticides and animal feeds. “It is hoped that at the end of this workshop, participants would have contributed to and also benefited from the workshop deliberations."

L-R: Special Adviser on Security, Oyo State, Mr. Segun Abolarinwa; Governor Abiola Ajimobi and the State Director, National Drug Law Enforcement Agency (NDLEA), Mrs. Omolade Faboyede, during the commemoration of this year's International Day Against Drug Abuse and illicit Drug Trafficking in Ibadan…at the weekend

Boko Haram: PNF seeks better deal for soldiers Onwuka Nzeshi ABUJA

civil society organization, Put Nigeria First (PNF) yesterday charged Nigerians to support members of the armed forces and other security agencies involved in the war against terrorism and insurgency in Nigeria. National Co-ordinator of the group, Mrs Ijeoma Nwafor, said the men and women in uniform who leave their families for months and endure harsh weather, hunger and other dangerous situations in the anti-insurgency war deserved to be adequately catered for.

24%

Nwafor advocated better welfare for the troops on the frontline as a way of motivating them to fight harder to end the current spate of terrorism. At a news conference to unfold the agenda of the group, Nwafor lamented that in spite of the roles played by Nigerian soldiers in combating terrorism and insurgency in different parts of the country, the Nigerian populace often treat them to unfair criticisms and accusations of human rights abuses. She disclosed that PNF would not only launch an appeal fund to support widows and

The percentage prevalence of diabetes (20-79 years) in Vanuatu in 2013. Source: Idp.com

orphans of Nigerian soldiers but would organise public enlightenment events to raise awareness on the plight of soldiers and their families in times of conflict. "In most countries, the military is revered, cherished and appreciated by its citizens because they often are the unsung heroes of every sovereignty. Nigeria should not be different. In this war against insurgency, they are the ones that are paying the ultimate price to see that Nigeria is safer. They have put Nigeria first before their own lives. They go without support and sometimes unnoticed by those of us

18,953

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

who are benefitting directly or indirectly from their efforts. "Our men and women in uniform are faced with real challenges. They leave their families for months at a time; go into dangerous situations. Some are injured, others lose their lives and a portion of them are even unaccounted for, all in a bid to put Nigeria first. We believe we ought to support our soldiers beyond what the government ministries and agencies do; they ought to know that the citizens are not only aware of them and their efforts, but are appreciative,"she said.

N2.44bn

The internally generated revenue of Borno State in 2012. Source: National Bureau of Statistics

Aviation workers threaten strike over welfare Wole Shadare xcept a truce is reached, Eaviation the activities of the regulatory body

Nigeria Civil Aviation Authority (NCAA) could be grounded as the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has threatened to shut down the agency within 30 days

unless workers welfare is addressed. ATSSSAN, in a letter to the acting Director General of NCAA, Benedict Adeleyika, demanded that all pending welfare matters before the Director General involving workers of the organisation must be resolved before July 5, 2014. New Telegraph learnt

that so many outstanding employees’ files on staff welfare matters, allowances, travel claims, have been piled up on the desk of the DG unattended in the last ten months to one year, just as ATSSSAN also called for the full implementation of the approved conditions of service. The Union has vowed

to move its national secretariat temporarily to the NCAA headquarters until the matter was resolved at the expiration of the ultimatum. Sources close to the union said that ATSSSAN was not too pleased with the way the various agencies are handling the issue of 2014 staff training in the aviation sector.

50 WORLD | NEWS

Ukrainian soldiers call for lifting of cease-fire

everal hundred Ukrainian soldiers and activists gathered outside the presidential administration in Kiev yesterday to call for an end to the cease-fire in eastern Ukraine, an indication that tensions remain high a day ahead of a deadline for steps toward easing the violence. After the weeklong cease-fire expired Friday, President Petro Poroshenko agreed to extend it through today in an effort to stop the fighting between government troops and Moscow-backed separatists that has left hundreds dead. The European Union also set a Monday deadline for Russia and the

separatists to take a series of steps, including releasing all captives, retreating from border checkpoints, agreeing on a way to verify the cease-fire and beginning "substantial negotiations" on Poroshenko's peace plan. If this was not done, the EU warned that it was ready to impose new punitive measures on Russia. Soldiers from the Donbass battalion, a militia formed by volunteers, appealed to Poroshenko yesterday to allow them to resume the fight. A presidential administration official, Henadiy Zubko, promised to pass on their demands to the president, but told them that the cease-fire order would remain in effect until 10 p.m. today.

Both sides have been accused of violating the cease-fire. Late Saturday, proRussia separatists released a second team of four observers from the Organization for Security and Cooperation in Europe, who had been held captive in eastern Ukraine since the end of May. The first team of four was freed last week. Ukraine on Friday signed a free-trade pact with the EU, the very deal that the former Ukrainian president dumped under pressure from Moscow in November, fueling huge protests that eventually drove him from power. Moscow responded to those events by annexing the mainly Russian-speaking Crimean Peninsula in March, and the pro-Russia insurgency in eastern Ukraine broke out a month later.

NEWS

Amaechi, Yero, others counsel Muslims on fasting Ibraheem Musa, Kaduna; Muritala Ayinla and Joe Ezuma, Port Harcourt

s Muslims in Nigeria enter the third day of the Ramadan fast today, prominent Nigerians have continued the call on them to use the period to move closer to God and ensure peace in the country. Some of those who spoke yesterday, included the Rivers State Governor, Chief Rotimi Amaechi; the Governor of Kaduna State, Alhaji Ramalan Yero; Gover Jonah Jang of Plateau State; the Senator representing Lagos East Senatorial District, Gbenga Ashafa and the Ja-

Jos

T Iraq receives Russian jets as it takes fight to militants

raq said it received the first batch of Sukhoi warplanes from Russia as it pressed a counter-attack yesterday against Sunni militants whose offensive threatens to tear the country apart. The arrival of the fighter jets comes with Iraqi forces, backed by aerial cover, pushing to retake the militant-held city of Tikrit and world leaders urging a speeding up of government formation following elections in April. The newly-purchased Su-25 ground attack jets are expected to be pressed into service as soon as possible, bolstering Iraq's air power

as it combats a sweeping offensive by militants, led by the jihadist Islamic State of Iraq and the Levant, that has killed more than 1,000 people and sparked a humanitarian crisis with hundreds of thousands displaced. While Washington has begun sending military advisers to help Iraqi commanders and is flying armed drones over Baghdad, Iraqi officials have voiced frustration that multi-billion dollar deals for US-made F-16s and Apache helicopters have not been expedited. Iraqi forces have for days been pressing a campaign to retake Saddam's hometown of Tikrit,

which fell to the militants on June 11. Thousands of soldiers, backed by tanks and bomb disposal units, have been engaged in the battle for the city with air strikes adding firepower to the counteroffensive. According to Maliki's security spokesman, Iraqi forces are coordinating with US advisers over "important targets" of the air attacks. The spokesman has said hundreds of soldiers have been killed since the offensive was launched on June 9, while the UN puts the overall death toll at over 1,000, mostly civilians.

maátu Nasril Islam, JNI,. They called on Muslims to be more God conscious through the recitation of the Glorious Qurán and observing the five daily prayers in congregation. In a statement by his Chief Press Secretary, Mr. David Iyofor, Amaechi urged Muslims to make Nigeria a focal prayer point as they go through the Ramadan rites.  Amaechi also called for persistent prayers for the country's leaders to enable them act right.  "At this point in the life of our country where peace and safety of the citizens has become critical, it is evident that we need divine intervention in our nation."  "We need to pray for our leaders to know the right thing to do

and have the political will to do it right for the good of our country", the statement read. Jang, in a Press Statement signed by his Director of Press Affairs, Mr James Mannok and made available to New Telegraph in Jos, yesterday stressed that if all religions follow the teachings in their Holy books, the world would have achieved greater harmony and peace will blossom.  He urged Muslims to pray for the peace, unity and stability of the nation. The JNI in a press statement, yesterday, reminded preachers of its guidelines which was ‘’agreed upon at the last National Conference on Practical Steps in Uniting Nigerian Muslim Ummah, held in Kaduna.’’

Ramadan: Education, important to Muslims, says JNI Secretary Buhari Bello

People shouting slogan during a rally in Independence Square in Kiov, yesterday

Sanctity of Truth

Monday, June 30, 2014

he Secretary-General, the Jamaátu Nasril Islam, JNI, Shiekh Khalid Aliyu Abubakar, has tasked Muslims on the importance of sound education, good moral values as a process towards attaining the right path.   He gave the task in his paper presentation titled: "Education in Islam," at this year's NTA Jos Zonal network centre annual Ramadan lectures held in Jos.  According to him, Islam places great emphasis and importance on seeking knowledge and education, stressing that one cannot find proper path in this world and beyond without acquisition

of proper education.   He added that knowledge makes man a right thinking person in taking the right decision, saying knowledge is also that which distinguishes the learned and the ignorant.   "In fact, Islam called upon seeking knowledge at all levels. The first word of the Qur'an, revealed by Allah (SWT), to prophet Muhammad (PBUH), was read, which highlights the importance of education. The prophet (PBUH) said, seeking knowledge is a compulsory on every Muslim. He also said, whoever follows a path seeking knowledge, Allah (SWT), will make his path to paradise easy,"  The PhD holder in Islamic Studies, said Islam has never segregated

any class of people, "be it by sex, age, colour etc. from acquiring knowledge," adding that "...education in Islam is a religious obligation and ignorance does not always stand as an excuse."   "The issue of girl child education is pertinent. It is a known fact that Aisha (R.A), and Ummu Salma (R.A), the wives of the Noble prophet taught a lot of knowledge to the world."  Shiekh Khalid stated that Islamic educational objectives support the principle of democracy, justice, equity and respect to humanity, he added that the content of education is evaluated in a way that assures avoiding extremism which may terminate in bodily harms, or even some times psychological abnormalities.

Bauchi to spend N72m for Ramadan Yuzarsif Alhassan Bauchi

he Bauchi State government yesterday approved the sum of N72million for this year’s 2014 Ramadan feeding to about 188 Mosques in the state capital and its environs. The Commissioner for Religious Affairs and Community Relations,

Alhaji Salisu Ahmed Barau disclosed this to newsmen in Bauchi, saying that Mallam Isa Yuguda has currently released the sum of N36million out of the N72million to committees’ saddled with the responsibilities of sharing and feeding in the state. According to him, the mosques were increased by 68 saying

that last year, the number of mosques benefited were total to about 120, whereas this year, the number escalated by 188 as against last year 2013. He, however said the government has pledged the release of the remaining amount of money with a view to feeding the Muslims faithful in this holy month of Ramadan among others.

Eagles ready for France, says Oboabona

uper Eagles defender, Godfrey Oboabona, has revealed that the team has put behind it the internal financial row with the Nigeria Football Federation, and is now focused on defeating the Les Blues of France, when both teams clash in the second round of the World Cup in Brazil, on Monday. Speaking in an exclusive inter-

view with New Telegraph in Brazil, the former Sunshine of Akure captain, added that the team is poised to break the jinx of Nigeria not going beyond the second round since the country first made appearance at the World Cup in USA 1994. “We are very ready for the match against France because our lives depend on it. We have put

behind whatever happened in the past as our focus now is to fly the country’s flag high by qualifying for the quarterfinal. “We respect the French team, but we are not scared of them because we also have quality in our team which consists of young and experienced players,” he said. Oboabona who was stretchered

SPORT

out during the game against Iran however, expressed delight about his comeback from the foot injury which kept him out of the games against Bosnia and Argentina. “It was not easy being out there injured, but I’m happy to be back and I’m ready to contribute my best if selected,” the Rizespor of Turkey player added.

Oboabona

NEW TELEGRAPH

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

Monday, June 30, 2014

AUTHORITATIVE VOICE IN GLOBAL SPORT

Nigeria vs France

KICK-OFF: 5PM

Keshi calls for full FOCUS ‘We’re set to stop Les Bleus’

uper Eagles coach, Stephen Keshi, has charged his players to be focused in the World Cup second round encounter against France today at the Estadio de Nacional de Brasilia. Keshi said he had a good team that could stop the French from progressing at the ongoing Mundial. He expressed optimism that the players would rise to the occasion to put smiles on the faces of Nigerians after 90 minutes. He said; We have prepared well enough for this match and I have told the players how important it is to be focused. We cannot afford to lose

concentration even for one minute in this game especially in the defence. “France are very solid in the attack and they are one of the favourites for the trophy. We have to work hard to realise our ambition of stopping them. “On paper, it is believed we are no match, but we can change all of that on the pitch with our quality of play. It is going to be a tight match but we are ready for the challenge.” Keshi noted that some of the surprise results posted so far in the ongoing World Cup are enough to give his wards the confidence to go all out for a win. “We have lost count of the num-

ber of upsets recorded at this World Cup. Germany almost lost to Ghana; Iran held Argentina for 90 minutes but conceded in added time. Costa Rica defeated Italy and Uruguay to top group D, and so we have enough templates to consider in our quest to win. I believe strongly we can do it if the players apply the right attitude,” the coach stressed. Nigeria emerged second in Group F to qualify to meet France who are the leaders of Group E. The winner of this encounter will play the winner of the Germany, Algeria match. With an upset in the two ties, an all African quarterfinal will take the centre stage at the Mundial.

Osaze

Eagles on the cusp of history ...players’ battle cry! Ahmed Musa

Osaze Odemwinge

“The team is gradually getting better. I have high hopes that we can do well against France. We were unlucky in the match against Argentina and the performance is an indication that we can do well against any team. It is possible for us to beat them (France) because we are highly determined to move on in the competition.”

“We have a good team that can deliver result against any team in this competition, but we have to be focused and be on the alert throughout the 90 minutes of the game. France is one of the big teams in this competition and so we expect a tough encounter. We are going to fight hard and play for one another to move on”.

Emmanuel Emenike

“This is a knock out stage and for me this is the biggest test we are facing in this competition. It is not coming as a surprise we all know it as a big challenge and we are going to be up for it because it is going to be a difficult game. Football is a team effort, we are going to put our acts together to compete well with France and earn a ticket.”

Ogenyi Onazi

Efe Ambrose

Joseph Yobo

“Any team at this stage will be eyeing the quarterfinals. Our situation is not different and we want to get there and possibly beat the African record at the World Cup. It is not going to be very difficult but we are also aware that no team can have it easy at this level of the competition. We have seen France and we are going to give them a fight to get the ticket.”

“It has been tough coming this far in the competition. We are in the last 16 and we expect that things will get even tougher. France are a highly rated side with many top players, but we are not scared of this. We are going to approach the match like any other game to get victory. We are going to be mentally ready for the match and I am optimistic of a qualification to the last eight.”

“France are the favourites in this match but that does not mean they are going to beat us. We are very ambitious and we are enjoying the competition. We want to stay on. The only way to achieve this is a victory over France. They have very good players and we all know them, but that is not enough to scare us as professionals.We can do it.”

Vincent Enyeama “The competition is now open to who can do it in 90 minutes. It is not about big names. We all saw what Costa Rica did. We also saw Ghana almost beating Germany. We stand a good chance to go far, but we have to start with the game against France. I have a good knowledge of some of their players and we are going to give our best to excel.”

SPORT

Sanctity of Truth

Monday, June 30, 2014

Wimbledon: Players set for second week pressure

lAs Serena seeks more Slams after shock exit

Federer

Africa Top 16: Quadri crowned Africa’s best Ajibade Olusesan

iding on the back of home support, Nigerian table tennis star, Aruna Quadri, on Saturday won the men singles title at the Africa Top 16 championship in Lagos, becoming African champion, qualifying for this year’s ITTF World Cup, and ending Egypt’s dominance in the event. Quadri defeated defending champion, Egypt’s El-Sayed Lashin, in the final only hours after defeating the continent’s highest ranked player, Omar Assar, also

from Egypt, 4-2 in the semi-finals. Lashin and Quadri had previously met five times with the Egyptian winning all the matches. But at the weekend, it was a different story entirely as Quadri thrilled fans at the Teslim Balogun Stadium with a string of superb displays against the veteran Egyptian, winning 4-3 to claim the continent’s sole slot to this year’s ITTF World Cup in Germany. Reacting to his victory, Quadri said: “I played very well today (Saturday) because most of my matches with him have always been very close.”

ndy Murray says he is relishing the pressure as he heads into the second week of Wimbledon and a meeting with 20th seed Kevin Anderson on Monday. The Briton, seeded third, will continue his title defence against the 6ft 8in South African in the second match on Centre Court today. Day seven of the championships will see majority of men’s and women’s fourth-round singles matches take centre stage. Playing in his ninth

Wimbledon, and having ended Britain’s 77-year wait for a male champion last year, Murray is used to the expectation that surrounds him at SW19. World Number one player, Rafael Nadal is also happy getting to the second week of the All England Club. “I’m very happy to be in the second week after two years losing in the first and second rounds. I am fighting for every ball and playing to find right solutions in every game,” Nadal, seeded second, said as he prepares to face Aus-

tralian teenage wildcard, Nick Kyrgios. Fourth seed Roger Federer, who has not had his serve broken in his three matches so far, is looking forward to the second week of the tournament having been beaten in the second round last year. Meanwhile, women number one seed, Serena Williams is targeting more Grand Slams following her shock Wimbledon exit. The five-time champion, 32, who lost in three sets to 24th seed, Alize Cornet on Saturday, has won 17 Grand Slam titles.

Court stops LMC from interfering in League Broadcast Rights

Lagos High Court has stopped the League Management Company from interfering in the broadcast rights of the Nigeria Professional Football League which is owned by Total Promotions Limited. Justice O. A. Ogala in her ruling on an interlocutory injunction restrained the LMC and the Nigeria Football League Limited or their agents or proxy from interfering in any of the performance of the contract between Total Promotion and the Nigeria Premier League entered into on September 16, 2009.

The Claimant, Total Promotion had dragged the Nigeria Football League Limited and League Management Company headed by Hon Nduka Irabor before the Lagos court last November to among other reliefs stop the Defendant from interfering in any way or form with the performance of the contract between the Claimant and Supersports International (Proprietary) Limited interfering with the telecast of the Nigerian Premier League Football matches on the DStv and affiliate platforms, in any shape or form or in any way

whatsoever, pending the determination of the main suit. Delivering her ruling on Friday, Justice Ogala averred that the broadcast rights granted to the Claimant by virtue of an existing contract between Total Promotion and the Nigerian Football League Limited has shown that it has a legal right which it seeks to protect and correspondingly the LMC has not shown how it would be injured in the rights granted to it by its own license if restrained from meddling with the rights of the Claimant.

Airtel looks to discover new stars CharlesOgundiya

he race to discover new talents at the annual Airtel Rising Star programme gathers momentum Monday, June 30, across two centres in Nigeria – Abuja and Ilorin. The Area 10 Sports Complex will cater for kids in Abuja, while the Kwara Football Academy will be the venue for kids in the Ilorin centre. Former Nigerian internationals, Garba Lawal and Mutiu Adepoju, will serve as the Technical Advisers of the Abuja and Ilorin centres respectively. The train will thereafter move

to Lagos, Enugu and Port-Harcourt from next week with former Super Eagles goaltender, Peter Rufai, handling the Lagos centre, while former Super Falcons goalkeeper, Ann Chiejine, will take charge of the Enugu centre. Former Olympic gold medallist, Chioma Ajunwa-Opara, will be handling the kids in Port-Harcourt. And explaining the choice of Ajunwa-Opara, the organisers recalled that the former track and field star was part of the Super Falcons team that represented Nigeria at the maiden FIFA Women’s World Cup in 1991 before she switched to athletics.

Guinness raises stakes to $10,000

stheSuperEaglesattemptqualifying for the quarterfinals for the first time when they square up with the Les Blues of France in the round of 16 at the ongoing 2014 World Cup in Brazil on Monday, Guinness, official sponsors of the team has doubled its promise of $5,000 per goal scored by the team at the group stages. The sponsors announced a reward of $10,000 for each goal scored by the team at every level in the knockout stages. From an initial reward of $2,000 per goal scored during the

qualifying stages for the World Cup, Guinness has consistently fulfilled its commitment to the Super Eagles. Mr. Austin Ufomba, Marketing and Innovation Director, Guinness Nigeria Plc. while announcing the increase on the reward said Guinness was really proud of the team and the zeal they have shown so far. “We at Guinness and indeed the over 170 million Nigerians solidly behind the Super Eagles are excited that the team so far has lived up to their billing,” he said.

Staff of Keystone Bank Limited participating in the Bankers’ Walk for Fitness organised by the Chartered Institute of Bankers of Nigeria, CIBN, Lagos Branch. The 7km walk was from Marina to the National Stadium Lagos at the weekend.

Sanctity of Truth

Monday, June 30, 2014

inside eagles camp Samba notes from Brazil

Compiled by Adekunle Salami

Eto’o and the little fan Samuel Eto’o could be emotional. His country, Cameroun had a poor run on and off the pitch in Brazil. They had bonus row, the players displayed poor conduct on the pitch as well while the results they posted were as poor as their conduct. They did not win a single match here in Brazil. And so on the way to the airport, Eto’o and his colleagues were in sober mood. He was about to enter the bus taking the Lions to the airport when a boy of about six years shouted his name “Etooo, Etooo.” The striker who has earlier shunned press interviews looked back and went to the boy to embrace him. He did so for close to two minutes and tears rolled down the cheeks of the little boy while Eto’o was also unable to hold back tears. So emotional. Desperate teenagers Brazilians are very desperate to make money by all means as the World Cup enters crucial stages in the South American country. The latest now is people going about with handbills to woo visitors for sex. Investigation revealed that most of them are teenagers because one handbill made available to me was translated thus; “I am under 20, do you want me?” the picture of the lady was in the handbill and it was learnt that the ladies engage some young guys to distribute the handbills. Another ploy is for the lady to be with a guy and the guy will be pointing at her to prospective ‘clients.’ It was also learnt that they charge between 120 and 170 dollars as ‘appearance fee.’ 20 dollars, we hear is for the pimp who brokers the deal. Prostitution rate is high here and it’s so nauseating but it is backed by law in Brazil. Abidemi arrives for Ubani. Journalism is a tough job but not many people appreciate that. For about three weeks, some Nigerians left their respective homes to cover the ongoing World Cup in Brazil. It is like the job of the soldiers, when it’s time to go, you just have to go. And that was the fate of Tony Ubani of Vanguard. We came to Brazil on the same flight and he revealed to me that his wife was expecting a baby. Given a chance, he would have loved to stay back. Just two day ago, we received news that his wife delivered a baby. It was a big sigh of relieve as we rejoiced with him. The baby has been named “Abidemi” since she arrived when the father was abroad. Who named the baby? I did of course. Struggling supporters The cash crunch in Brazil is hitting everybody. The Nigeria football supporters here are over 250 in number. They are scattered in about four hotels, but things are getting tough for the management to maintain the number. On Sunday it was learnt that the body almost sent home 70 per cent of its contingent, but later had a rethink. However, the number of those going to Brasilia for the France, Nigeria match was drastically reduced to save cost. It is not easy here especially with the one dollar to two Reais exchange rate.

Omeruo cashes in on Nigeria World Cup run

helsea defender Kenneth Omeruo will be at least $60,000 richer courtesy of his personal kit sponsors by the time he

Omeruo (middle)

starts against France on Monday, AfricanFootball.com has specially learnt. A top source informed AfricanFootball.com

Omeruo has already pocketed $45,000 from adidas for starting and finishing three of Nigeria’s group games against Iran, Bosnia-Herzegovina and Argentina. He will get another $20,000 should he start and finish Monday’s round of 16 match against France in Brasilia. The past few months have been richly rewarding for Omeruo after Chelsea tripled his weekly pay to 15,000 pounds. He will earn a lot more by the time he makes his Chelsea debut, which could now be sooner rather than later after the positive vibes from the London club’s officials who are keeping tabs on him in Brazil.

Enyeama: Nigeria don’t fear France

Enyeama

uper Eagles goalkeeper, Vincent Enyeama, is looking forward to facing France in their second round tie on Monday, believing that his side is capable of pulling off a shock win Enyeama said Nigeria was not scared of France and are capable of beating them. The West African nation

ajor sponsor of the Super Eagles and all Nigerian national teams, Globacom, has commended the Super Eagles for qualifying for the second round of the on-going 2014 World Cup holding in Brazil. The Super Eagles lost to Argentina National team, Albicelestes by two goals to three in the third match of the group, but still qualified for the second round with four points while the Argentines led the Group with nine points. Globacom in a press statement released in Lagos, commended the Super Eagles for also qualifying for the second round of the

rance Coach, Didier Deschamps, has said that the physical style of play by Africans, especially Nigerians, might cause his side problems in today’s knockout match. But he is hoping his methods pay off, as he is not taking the match lightly. “They will undoubtedly cause us problems on a physical level and they have forwards who can make the difference at any moment,” he noted, while keeping his plans to unsettle the Super Eagles close to his chest. He further sad: “team spirit and the mentality of the players are essential. That isn’t what wins you games, but you can’t win them without it.” Given that his charges topped

their section with eight goals in three outings, the man who skippered the side to glory at the Stade de France in 1998 appears to have won that particular battle. Only time will now tell whether France’s current odyssey will end with even more thrilling echoes of 1998. His side’s inability to break down Ecuador was perhaps the only negative in their final Group E outing, but Deschamps is not unduly concerned. “We lacked efficiency, but we had a lot of chances,” he said. “We were very prolific in our games before that, and that was important. It would have been better to continue in the same vein, but that doesn’t spoil our joy at having qualified.”

went through as runners up in Group F, earning a last16 berth despite a 3-2 defeat rsenal’s France nation- well. In attack, they are in their final group match al team player, Laurent very dangerous. against Argentina in Porto Koscielny, believes Afri‘’(Osaze) Odemwingie, Alegre. can champions Nigeria (Ahmed) Musa, they are “We fear nobody,” the have the what it takes to good players. Afterwards, 31-year-old said in an inter- challenge them in Mon- they solve their problem view with L’Equipe. day’s second round show- among themselves. We “We have a culture for down in Brasilia. are well prepared.’’ football. It’s our way of life. And the 28-year-old has Looking forward to We work for that and we highlighted that there are the game at Estadio Estámust show the world what several quality players in dio Nacional de Brasília, we are capable of. the Super Eagles squad Koscielny pointed out “France are favourites especially in attack. that there are no longer but anything could happen. Speaking at a press minors in football, using I said before the tournament conference, the France Costa Rica’s performance competition. “Even though you lost that playing them would be number 21 said: ‘’The in the Mundial as a case Nigerians play especially study. the match to Argentina, my dream fixture. you were not disgraced. You Beat France for President Jonathan, Elegbeleye charges Eagles worked hard and contested he Director General closed that “as part of Presi- to go all out to beat France every ball. We are very of the National Sports dent Goodluck Jonathan’s in tomorrow’s (today’s) proud of you,” Globacom Commission, Honour- transformation agenda, World Cup second round stated further. able Gbenga Elegbeleye, our dear Mr. President has battle and book a place in The Super Eagles will has charged the Super contributed so much and the quarter-finals of the face France in the second Eagles and their techni- still contributing to the de- competition. round while the group cal crew to ensure they velopment and promotion As regards the Nigerian leader, Argentina will lock beat France in today’s of sports in this country, team, the NSC boss ashorns with Switzerland. second round match of including football and the sured that President Jona“The Super Eagles coach- the ongoing 2014 World result has been evidently than has approved all the ing crew should work round Cup in Estádio Nacional clear. funds needed by the team the clock and evolve the de Brasilia, Brazil, in ap“He has not for one day which have since been right strategy to ensure preciation of President stopped supporting sports. released to the football that the team emerges vic- Goodluck Jonathan’s That is why we have body- The Nigeria Football torious in the second round. huge support for football achieved all the positive Federation, and as such he We are quite optimistic that and other sports in the results we have had so far. is confident that the Eagles the team is up to the task,” country. So I am using this medium has a conducive platform to Globacom added. The former legislator dis- to charge the Super Eagles shine in Brazil.

Koscielny rates Osaze, Musa highly

Glo commends Eagles’ progress to second round

Eagles’ Enemies’ Camp Deschamps wary of Eagles physical strength

54 SPORT

Sanctity of Truth

Monday, June 30, 2014

News Updates

ermany insist they do not have revenge on their mind, and that captain Philipp Lahm is the right man in midfield, as they gear up for a history-laden last 16 clash with Algeria at the World Cup on Monday. Algeria famously beat

then West Germany 2-1 in the 1982 group stage, but even more famous is what happened a few days later when Germany and Austria stopped playing after an early German goal, the 1-0 good enough to see both through at the expense of the North Africans.

Algeria’s Yacine Brahimi celebrates after scoring against Korea Republic

Dutch break Mexican hearts, Memories of ‘82 as advance into quarterfinal Algeria, Germany clash A

Germany coach Joachim Loew insists his players are not thinking of revenge for the lost match, even more as most of them weren’t even born by the time of the embarrassing defeat. The Algerians, who would have even more reason to, are also not engaging in a war of words even though coach Vahid Halilhodzic admitted that “you can never forget 1982.” The Algeria camp is rather taking delight in reaching their first World Cup knock-out game, partly helped by the first fourgoal effort of an African team at a World Cup, an impressive 4-2 over South Korea.

But Halilhodzic is only too aware of the pecking order in world football lying ahead of the only Arab world representative left in the tournament. “We are the small, small Algeria and now play against the big, big Germany,” he said. “This fourth game will be more than complicated. The German team runs non-stop.”

Head-to-head Algeria Matches 1 Wins 1 Losses 0 Drawn 0 Goals for 2 FIFA ranking 22

9PM Germany 1 0 1 0 1 2

Scolari hopeful over Neymar injury B

Neymar, 22, took a knock razil coach, Luiz Felipe Scolari, hopes forto his thigh early on in the ward Neymar will be fit to face Colombia second-round win over Chile on Friday in the quarter-finals of the 2014 that was decided by penalWorld Cup. ties. Neymar scored Brazil’s fifth spot-kick in the penalty shootout before Chile deWith five goals, Rodriguez is the dangerous, so this is going to be a fender Gonzalo Jara missed leading scorer at this year’s tourna- beautiful match. It will be some- to send Scolari’s side into ment, one ahead of Lionel Messi, thing extraordinary for us to play.” the quarter-finals. Neymar and Thomas Muller. “Neymar needs to be valThe Monaco star has now scored in each of his country’s four games in the tournament and, while urgen Klinsmann claims aware of last-eight opponents Brathat the United States can zil’s threat, he says the hosts also dump Belgium out of the need to be wary of Colombia. World Cup when the two sides “There is no pressure. Obviously meet on Tuesday, in the last 16 Brazil have their good players, they in Salvador. play well, but I believe they must Klinsmann was branded also follow us closely,” he said. “We “un-American” by the US mehave good players and we can be Rodriguez dia before the World Cup for saying that winning the tournament was “just not realistic” for his side but has now talked up his team’s chances against Marc Wilmots’ outfit. witzerland striker Mario “We have enough confiGavranovic will miss the rest of the World Cup after iego Forlan is not ready to tearing his cruciate knee ligament in training. announce his retirement The Zurich forward fell badly from international football, after his foot got stuck in the even though he knows that at turf and a scan revealed he had his age the clock is certainly torn his cruciate ligament. ticking. Forlan, 35, won the Golden The 24-year-old requires an operation and will return home Ball award as the outstanding Zabaleta ahead of Switzerland’s last-16 player at the 2010 World Cup as braver in other situations. clash with Argentina in Sao Uruguay finished third in South “Now the situation is dif- Paulo on Tuesday. Africa, but was used more sparferent because each stage is A statement from the Swiss ingly during this year’s camcrucial. We hope our rivals are federation read: “Mario Gavra- paign. more open and we can take ad- novic badly injured his knee in The former Manchester vantage of these spaces. The Switzerland’s training in Porto United and Inter Milan striker’s important thing is to keep the Seguro on Saturday.” two starts in Brazil both came balance.”

Rodriguez compared to Maradona, Messi

olombia forward, James Rodriguez, is in the class of Diego Maradona, Lionel Messi and Luis Suarez, according to Uruguay boss Oscar Tabarez, after the Monaco star scored both goals in Colombia’s 2-0 win over the reigning South American champions. Colombia coach Jose Pekerman added: “I never had any doubts that this was going to be his World Cup.” “From what I have seen, he is the best player in the World Cup,” said Tabarez.”I am not exaggerating, he is a great striker.”

Argentina must improve – Zabaleta

ablo Zabaleta has told his Argentina team-mates they must improve if they want to win the World Cup. They play Switzerland on Tuesday for a place in the quarter-finals. And the City defender admits they’ll have to get better if they want to progress. Zabaleta said: “Beyond having qualified first, we know that there is always room for improvement and can work to adjust. We are entering a decisive phase in which there is no margin for error. “I think the important thing was learning about how rivals may pose threats in matches and how important it is to be more cautious about some things, and

stunning late turnaround gave Holland victory over Mexico in the World Cup Last 16 tie between the sides. The Dutch were far from at their best for long spells in Fortaleza, but after Wesley Schneider cancelled out Giovani Dos Santos’ opener, Klaas-Jan Huntelaar scored a final minute penalty to break Mexican hearts and consign them to yet another exit at this stage of the tournament. After a goalless first half, during which the tournament’s first official drinks break was called, Dos Santos arrowed a powerful shot in from range that flew past the Dutch keeper and into the bottom corner. It was third time lucky for the forward, who had two goals wrongly ruled out for offside earlier in the tournament. In a surprise move, Van Gaal then chose to withdraw Van Persie in favour of Huntelaar as the Dutch made their final change. They went very direct from then on, forcing their opponents further back, and a succession of corners finally bore fruit two minutes from time.

ued for what he did because it was a big effort,” added the Brazil boss, who criticised English referee Howard Webb for not protecting his star player. “He played 75 minutes of the match after a strong hit on the thigh and we couldn’t understand how somebody hits with that strength and gets no card,” added Scolari.

US can beat Belgium – Klinsmann

Gavranovic out for Swiss

dence now going into this game – a very special one, a knockout game – to say we are able to beat them,” the 49-year-old told a press conference. “Belgium are one of the secret favourites in this World Cup because of the players, individual players, that they have,” he said. “We have absolutely no fear at all. We feel like we are in a position now to challenge. We believe we have built a foundation in our team that we are

Forlan rules out retirement

in the absence of Luis Suarez -once through injury in their first game and again in the roundof-16 defeat to Colombia due to suspension -- but he said after Saturday’s 2-0 loss to Colombia that he is not ready to quit the reigning South American champions yet. ‘’I want to play football,’’ Forlan said. ‘’I still love to be on the field. I know there’s going to be a generational change. That’s to be expected, and I’m 35. But I’m always willing to help and be around.’’

SPORT 55

Sanctity of Truth

Monday, June 30, 2014

FIFA WORLD CUP

Yobo: Eagles’ve nothing to fear against Les Bleus with almost entirely positive memories. “Qualifying for the knockout phase was our first objective,” the Super Eagles’ captain told FIFA. com. “We’re very happy because that hadn’t happened to us since 1998. This time, we did it with pride, by finishing second and trying to win first place against Argentina.”

Yobo

or Joseph Yobo, the pre-match ritual is as much a part of the game as the half-time team talk. In his 16 years as a professional, the Nigeria defender has always readied himself for action the same way, slipping on his shirt and then singing and praying before stepping on to the pitch. Although his side slipped to a 3-2 loss in the match against Argentina, the 33-year-old Yobo came away

‘I’m proud of our team’ They gave the South Americans a genuine scare too, though Yobo feels they could have done even more. “We’re disappointed because we didn’t play that game to win it from the very first minute,” explained the Fenerbahce stopper, who spent the last six months on loan at Norwich City. “We thought a draw would be a good result, but in the second half we came out even stronger to try and win the match. That’s what we should have done from the very first minute.” Lionel Messi’s early strike showed up the flaw in their conservative game plan, but Yobo took plenty of encouragement from how the match subsequently played out. “I’m proud of our team and our reaction after we fell behind,” he said. “We’re happy to have qualified but disappointed not to have got a better result.”

That in itself says much about the ambition in the Nigeria ranks, given that La Albiceleste boast a pair of World Cup titles and were able to bring a four-time FIFA Ballon d’Or winner to the party. “They’re one of the best teams in the world and it was a huge test for us,” added the former Everton stalwart, who hardly needed a second to think before naming the greatest forward he has faced in his long career. “Oh Messi – he’s the best by far. I’d already played against him in 2010 and he caused us problems then, but we managed to stop him scoring. He’s a really special player. You only have to look at how he made us suffer today.” In truth, the Barcelona star was the one real difference between the teams in Porto Alegre, where Stephen Keshi’s men proved that they have made tangible progress since their campaign got under way. “Lots of people said that we started off too timidly against Iran (0-0), but they were a solid team and we’ve improved since our first game,” said Yobo. “Our third match was probably our best since the tournament began, even if it ended in defeat.” Forward momentum With 100 caps under his belt, the veteran is now able to adopt a more detached perspective on Nigeria’s

Evra: from public enemy to France’s ‘leader’

astigated after France’s players boycotted training at the 2010 World Cup in South Africa, Patrice Evra has rebuilt his reputation under Didier Deschamps and is sure to start against Nigeria. That footage from 2010 belongs in the World Cup hall of infamy. Patrice Evra, hands tucked inside his pockets, stood on the pitch at France’s training base in Knysna, arguing with Robert Duverne, the fitness coach. Raymond Domenech, the France manger, steps in and holds back Duverne, who is furious. Evra heads in one direction and Duverne in the other, leaving Domenech reduced to the humiliating role of reading out a statement from the players explaining why they are boycotting training. It was an extraordinary scene, one that was played out in front of the world’s media in South Africa and provoked outrage in France. Nicolas Anelka, the man at the centre of the

dispute, received an 18-match ban from the French Football Federation. Evra, the captain and leader of the rebellion, was suspended for five games. The real punishment, though, was the damage to Evra’s reputation. The row with France’s fitness coach at South Africa 2010 which made Patrice Evra a national pariah. It could easily have been the end of him as an international footballer but Evra never entertained that thought and now he has his reward. Four years on from the South Africa debacle, Evra has lost the armband, as well as a yard or two of pace, but not his place in the France team. As one of only four survivors from the 2010 World Cup, the Manchester United defender will line up against Nigeria at the Estádio Nacional on Monday night with a place in the quarter-finals, and a shot at redemption, the prize. This is not, however, the Evra of old,

Evra

as those who watched him at Old Trafford last season (and expect him to lose his place to Luke Shaw next term) will testify. The rampaging wing-back that Sir Alex Ferguson signed from Monaco eight years ago is no longer able to go

results, looking beyond the outcome for a more nuanced take on the performance. Even so, a study of their scorelines suggests that the Super Eagles have been resurgent since 2001. “I’ve played in this side for many years, so I’ve been able to see it evolve,” Yobo noted, having previously graced the World Cup stage at Korea/Japan 2002. “We won the Africa Cup of Nations, booked our place in the World Cup without any trouble and now we’ve qualified for the second round. It’s not often that I’ve experienced so many pieces of good news in a row. That shows you we’re improving. This team is young, but it’s growing fast and learning quickly. We’re taking confidence from our campaign so that it can help us in our next match.” That takes the African champions to Brasilia for a meeting with France, where Yobo spent the 2001/02 season during a brief spell at Marseille. Like Argentina, Les Bleus are sure to provide another probing examination, particularly with Karim Benzema in such keen form. “We’ve just played against the best forward in the world, so we’re ready to measure ourselves against anybody,” said Yobo, before adding with a grin: “I don’t see what we should be afraid of. I believe in this team, and I think we can do it.”

through the gears, to the point that some in France consider Evra a weak link in Didier Deschamps’ reinvigorated team. Evra, though, has two things in his favour: experience and the total faith that Deschamps has in him. Deschamps signed Evra for Monaco in 2002, made him vice-captain, worked with him for three seasons and came to admire the person as well as the player. Their relationship is tight; some close to the French camp go as far as to say that it is like father and son. Deschamps sees Evra as a leader, not a troublemaker. Far more important to the 33-year-old is the respect he continues to command from the players. He does not need to be given the job of calling heads or tails before kick-off to speak with authority and make his voice heard. “The captain is Hugo Lloris. I am captain in my club and that’s enough for me, and to be confirmed on the left side for the France national team,” Evra said before the 5-2 win over Switzerland in Salvador. “I did not need the armband to do my work in the dressing room and on the field. It’s beautiful to be captain, it is honourable, but it is not the most important.”

World Record

On Marble

Happiness is not something readymade. It comes from your own actions..

– Dalai Lama

Lina Medina, Ticrapo, Peru was the youngest person to ever become pregnant and give birth was only 5 years old!

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 MONday, JUNE 30, 2014

N150

The shame of UNIZIK Vice-Chancellorship

“N

namdi Azikiwe University is currently the biggest industry in Anambra State. Ours is one of the most sought-after universities in Nigeria today with students’ admission quota of over six thousand students. Considering the number of students we have and the number of academic and non-academic staff working in the university, you cannot fail to agree with my first statement. That explains why we must nurture this university with all we have to ensure that our people derive the best from it.” Those were the words spoken by Professor Boniface C. E. Egboka, the immediate past Vice Chancellor of Nnamdi Azikiwe University, at the valedictory lecture held in his honour at the institution’s Faculty of Business Quadrangle on June 2, this year. For us from Anambra State, and for Nigerians who align with all that is noble, Professor Egboka’s words are both heart-warming and a challenge to ensure the sustainability of all those things that have added to make the university one of the best in Nigeria today. Established in 1991 by Edict No. 5 of Anambra State, Nnamdi Azikiwe University was subsequently taken over by the Federal Government vide Decree No. 34 of 1992, which made it a federal university. In the 23 years of its existence, the university has had four substantive vice chancellors namely, the Late Prof. Festus A. Nwakor, Prof. Pita Ejiofor, Prof. Austin Ilochi Okafor (SAN) and Prof. B. C. E. Egboka in that order. These men were the best of the best and emerged as vice chancellors by coming out tops in interviews and screening exercises that preceded their individual appointments. Given this background, it is rather worrisome that the noble ideals, which made Nnamdi Azikiwe University what it is, have been jettisoned for a cladding of compromise. In the recent exercise for appointing a new vice chancellor, too many needless and pointless controversies surfaced. For instance, some of the candidates announced that university council members charged with the responsibility of selecting a new vice chancellor had demanded bribes and other inducements from them! Not only that, alien rules for the exercise unknown to the institution were introduced. These dealt a shattering blow on all true lovers of education. Available records (see page 50 of Sunday Vanguard of June 8, 2014) indi-

Guest Columnist Ijele Agha-Ibeka

Jonathan

Wike

cate that the contest was mainly among nine erudite academics. The initial results of the contest based on the assessment of curriculum vitae and interaction threw up three candidates as the most qualified. These were: Prof. Greg Nwakoby – 89.65 percent; Prof. Joseph Ahaneku – 80.65 percent and Prof. Ben Osisioma – 79.4 percent. The university board agreed that the final recommendation to Council would be based entirely on the outcome of the selection exercise, i.e. the total score on the two parts of CV and Interaction over 100 percent. This should have translated into Prof. Greg Nwakoby, the candidate with the highest score being announced as the successor to Prof Boniface Egboka! But this did not happen. Whatever subverted the standing principle of fairness and equity which denied the highest scorer the ultimate prize, calls for the scrupulous attention of the person of the President, and Commander in Chief of the Armed Forces of Nigeria, Dr. Goodluck Ebele Jonathan. To allow this wanton subversion of standards to stand, without explicitly establishing a justifiable reason the first (Professor Nwakoby) became the last will be a travesty of justice and can only reverse the upward trajectory in the

excellent showing of Nnamdi Azikiwe University in the past 23 years of its existence. A university must be the epitome of integrity and transparency, not a gambling house. When wuru-wuru or mago-mago becomes the critical yardstick for appointing a vice chancellor, a negative message is sent across the board. Lecturers are nodded to the understanding that their career prospects are not tied to application to teaching, research and publications, but to the connections they have. Students are pressed to the conclusion that the attainment of diplomas and degrees are through the doors of cultism, absenteeism, general lawlessness and the connections they have. While writing this piece, accusing fingers were pointing in many directions, but especially in the direction of a certain political figure from the South East geopolitical zone and his co-travelling moneybag known to abhor all that is noble and transparent. It should be disturbing to all and sundry that this charade of imposing the less qualified candidate as vice chancellor has been allowed to be played out in Anambra State – the home of the erudite and the learned, the swathe of land that holds the umbilical cord of

some of the most cerebral personages the African continent has ever known. What a travesty that a moneybag of doubtful paternity can arrogantly deride the noble who are in the sleep of death (like the personage after whom the university is named), and also urinate on the heads of the living who clamour for merit, and yet go unchallenged. Following the announcement of Prof. Joseph Ahaneku who came a distant second in the screening exercise as the new Vice Chancellor, the atmosphere in the university, is to say the least, inclement for academic pursuit. Already the university’s staff members have aligned themselves for and against what many observers consider a broad-daylight rape of equity and fair play. For all it is worth, the processes that threw up Prof. Greg Nwakoby as top scorer and Prof Joseph Ahaneku as first runner up require critical review and unbiased auditing to establish at what point the selection process was high-jacked and negated. Since there is a prima facie case of miscarriage of justice, both the President and the Minister of Education should step in without further delay, in order to halt the negation of the cathedral majesty and noble academic ideals of Nnamdi Azikiwe University. Existing ground rules for university appointments are there for the avoidance of landmines that may result in value erosions. A stitch in time they say saves nine! • Agha-Ibeka is a commentator on national issues.

OmoBaba

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– Charity begins at home!

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