Binder1 wednesday, march 18, 2015 by Newtelegraphonline

A media partner of Sanctity Of Truth

NIGERIAâ&#x20AC;&#x2122;S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Wednesday, March 18, 2015

/newtelegraph

Vol. 2 No. 392

@newtelegraph1 www.newtelegraphonline.com

N150

Federal Government cuts electricity tariff by 50% }6

Oil output threatened, says Alison-Madueke

lMinister denies NNPC got N1.3trn subsidy from central bank Adeola Yusuf

or the first time since oil price rout began last year, the Federal Government yesterday ad-

mitted that the persistent decline in oil prices would hamper Nigeria's bid to boost output to four million barrels per day (bpd). The government's ad-

mission came hours after crude oil traded near a six-year low in New York on prompting of talks between Nigeria and Algeria to start a global response

from oil-producing nations to the tumbling prices. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said at the ongoing Nigeria Oil

and Gas conference (NOG) in Abuja, that the decline in oil prices was threatening the output plans. The minister, at another CONTINUED ON PAGE 6

10 days to go... Nigeria Nigeria votes votes

2015

5 201}14-15

Buhari: No bloody polls lAPC candidate assures Nigerians of violence-free elections }5

Quick Read

Nigerian troops jubilating during a media tour of recaptured territories in the North-East, in Baga, Borno Stateâ&#x20AC;Śyesterday

Jonathan, Jega, service chiefs assess preparations for elections lNPAN insists polls must hold on March 28 Anule Emmanuel, Onyekachi Eze and Mojeed Alabi

resident Goodluck Jonathan, Chairman, In-

dependent National Electoral Commission (INEC), Professor Attahiru Jega, service chiefs and other heads of security agencies yesterday met behind

closed doors in Abuja to assess the level of preparations of the general elections. Although there was no formal briefing on the out-

come of the deliberations, a source told New Telegraph that the forum provided the service chiefs an avenue to brief the gathering on their readiness for

the elections in view of the ongoing anti-terror war in the North-East. The general elections, earlier slated to begin on CONTINUED ON PAGE 7

Editorial

Enough of this bloodletting }19 Kalu: Jonathan'll defeat Buhari by slight margin }13 Travel Advisory

Your guide to local and international flights }4

WEDNESday, March 18, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESday, March 18, 2015

Travel Advisory

WEDNESday, March 18, 2015 NEW TELEGRAPH

International Flight Schedule Air France

Destination Abuja- Paris Paris-Lagos Paris-PHC PHC-Paris Paris –Abuja Lagos –Paris

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

Departure 23.55hrs 10.55hrs 11:00hrs 21:20hrs 11:00hrs 23:55hrs

Arrival 6:05hrs 17:15hrs 19:15hrs 6:05hrs 17:00hrs 6:20hrs

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

W3 101 W3 102 W3 107 (Mon, Wed , Fri) New York-Lagos W3 108 (Tues,Thurs, Fri) Lagos-Johannesburg W3 103 Johannesburg-Lagos W3 104 Lagos-Douala - (Tues, Wed ,Thur) Douala-Lagos - (Tues, Wed, Thur) Lagos-Accra Accra-Lagos

Abuja-Accra Accra-Abuja Lagos-Freetown Freetown-Lagos Lagos-Banjul Banjul-Lagos Lagos-Dakar Dakar-Lagos

-(Tue, Thur, Sat, Sun) -(Mon, Wed, Fri) -(Daily) - (Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Mon, Tue, Thur, Fri,Sat) -(Tue,Wed, Fri,Sat,Sun)

BRITISH AIRWAYS

London-Lagos Lagos-London Abuja-London Abuja-London

07:00hrs 20:05hrs 20:10hrs 11:45hrs

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

10:45hrs 09:35hrs 11:10hrs 13:25hrs 07:20hrs 17:00hrs 08:05hrs 13:35hrs 18:00hrs

hrs 14:44hrs hrs hrs hrs hrs hrs hrs hrs

AWB 201 (Mon, Wed, Fri, Sun) AWB 202 (Tue, Thur, Sat, Sun)

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

17:00hrs 06:00hrs 08:00hrs 17:00hrs 08:00hrs 15:20hrs 21:00hrs

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

EK 7821 (Sun-Sat) EK 7822 EK 7831 EK 7811 EK 761

21:30hrs 14:40hrs 07:35hrs 14:20hrs 23:55hrs

07:40hrs 01:05hrs 12:50hrs 19:45hrs 10:30hrs

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

Lagos - Addis Ababa ET900 Addis Ababa - Lagos ET901 Abuja - Addis Ababa ET910 Addis Ababa - Abuja ET911 Enugu - Addis Ababa ET930 Addis Ababa - Enugu ET931 Kano - Addis Ababa ET930 Addis Ababa - Kano ET931

13:15hrs 09:00hrs 13:40hrs 09:40hrs 12:00hrs 09:20hrs 14:05hrs 09:20hrs

20:25hrs 12:15hr 20:10hrs 12:20hrs 20:50hrs 11:15hrs 20:50hrs 13:20hrs

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

20.45hrs 09:50hrs 09.20 hrs 06:30hrs

12:30hrs

Lagos-Dubai Lagos-Dubai Dubai-Lagos Dubai-Lagos Abuja-Dubai

IBERIA

Abu Dhabi-Lagos

EY 0672 (Sunday) (Monday) (Saturday) EY 955

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

11:55hrs 5:50hrs 14:35hrs 06:00hrs

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

17:55hrs 00:00hrs 09:00hrs 22:40hrs

QATAR AIRWAYS

VS 652 VS 651

18:30hrs 05:15hrs 05:30hrs

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

12:00hrs 21:30hrs 23:50hrs

Middle East Airlines (Two flights weekly (Tues & Friday)

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

HF 851 (Tues, Thurs, Fri, Sun) HF 852 (Mon,Wed, Thurs, Sat)

ASKY AIRLINES

Destination Lome to Abuja Abuja-LomeKinshasa Kinshasa-Abuja Abuja-Lome Lome-Lagos Lagos-Libreville Libreville-Kinshasa Kinshasa-Libreville Libreville-Lagos Lagos-Lome Lome-Lagos Lagos-Libreville Libreville-Brazaville Brazaville-Libreville Brazzaville-Lagos Lagos-Lome

10:10hrs

10:50hrs

19:20hrs

21.50hrs

Flight No. KP 032 (Tue-Fri) KP 032 ( Tue-Fri)

Departure Arrival 14:00hrs 15:55hrs 16:30hrs 18:15hrs

KP 033 (Wed-Sat) KP O33 (Wed-Sat) KP O40 (Sun-Sat) KP 040 (Sun-Sat) KP 040 (Sun-Sat) KP041 (Tue-Sat) KP 041 (Tue-Sat) KP 041 (Tue-Sat) KP O44 (Tue-Fri) KP 044 (Tue-Fri) KP 044 (Tue-Fri) KP O45 (Wed-Sat) KP 045 (Wed-Sat) KP 045 (Wed-Sat)

8:20hrs 10:35hrs 13:00hr 14:40hrs 17:00hrs 7:15hrs 9:35hrs 11:55hrs 13:10hrs 14:50hrs 17:10hrs 07:00hrs 09:20hrs 11:40hrs

10:00hrs 12:20hrs 14:00hrs 16:30hrs 18:45hrs 08:55hrs 11:25hrs 12:45hrs 14:10hrs 16:40hrs 18:50hrs 08:40hrs 11:10hrs 12:30hrs

Local FLIGHT SCHEDULE 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

AZMAN FLIGHT SCHEDULE

WEEKLY SCHEDULE Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 12:40pm

Lagos-Abuja/Kano 4:00pm Abuja-Kano 5:45pm Kaduna-Lagos 8:00am Lagos-Kan 10:10am Kano-Abuja/Lagos 12:40pm Abuja-Lagos 1:00pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm WEEKEND SCHEDULE SATURDAY Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 1:00pm Lagos-Kano 4:00pm Kaduna-Lagos 8:00am Lagos-Kano 4:00pm Sunday Kano-Lagos 8:00am Lagos-Kano 10:30am Kano-Abuja/Lagos 1:20pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm

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

News

wednesday, march 18, 2015 NEW TELEGRAPH

national

FG floats N39.6bn business devt project for MSMEs

he Federal Government launched the first ever-Nigerian Business Development Services Network for effective and productive performance of Micro, Small and Medium Enterprises in Nigeria, yesterday. A statement made available to New Telegraph yesterday, said that the N39.6billion ($200million) project, called the Nigerian Business Development Services Network, is a network of private sector business development service providers that will work with MSMEs across the

Speaker of the House of Representatives, Hon. Aminu Tambuwal, with the new Emir of Gusau, Alhaji Ibrahim Bello, when the speaker visited the traditional ruler in his palace in Gusau...yesterday.

Solicitor falls for £26m oil scam Ayodele Aminu

“naive” solicitor fell victim to a classic scam when he handed over £242,000 client's monies on the promise of getting £26.8 million from a Nigerian oil company, the Irish High Court has been told. Irish Times yesterday reported that no client of James J Maher, formerly practising as a partner in James Maher & Co, Essex Quay, Dublin, was left out of pocket because Mr Maher subsequently got an inheritance from an uncle, which enabled him pay the money back, the court also heard. Mr. Maher (53) was subsequently diagnosed as having suffered from bipolar disorder throughout his life. Two psychiatrists differed over whether this was the cause of him falling for the scam, the court heard. The president of the High Court, Mr Justice Nicholas Kearns, said he would not strike off Mr. Maher, but would order he may only practise in the future subject to certain restrictions. These include that he should only work as an assistant solicitor and

not be permitted to sign cheques or bank transfers. The court heard the scam arose at a time in Mr Maher’s life when he was having marriage difficulties, including the fact he and his wife were unable to have children. Both he and his wife believed she had cancer, the court heard. Mr Maher said his wife was also “blaming me because I had brought her to Castleknock and kept her there for three years when she wanted to be in Churchtown where she was from”. The court heard an architect client, for whom Mr Maher had previously acted, had told Mr Maher the architect’s wife was also dying of cancer in England, and he wanted to get 26.8 million owed to him by the “National Petroleum Company of Nigeria” for work the architect did on an oil pipeline. Mr Maher was told the architect first needed to send money to Nigeria to get “money laundering clearance and terrorist clearance” before the £26 million would be sent over and lodged in the solicitor’s account. Mr Maher made several withdrawals from his

client's account, totalling £242,219, and paid it to the architect between April and September 2011. Mr Maher told a Law Society investigating accountant he was in contact with a number of people in Nigeria, including the governor of its Central Bank, the president of the Nigerian Senate and the director of its Department of Finance. The accountant also said Mr Maher had referred to US President Barack Obama being involved in meetings with Nigerian officials with a view to getting the money released. Asked by Mr Justice Kearns was he not surprised to be told the architect was owed £26 million, Mr Maher said he was shown documentation, which seemed to support what he was being told. “I was very vulnerable and naive, but I often said I would prefer to be naive rather than cynical,” he said. As the architect’s wife was dying of cancer and because he wanted to undo “the damage I had done in relation to my own wife”, he ended up being “snared into this”, Mr Maher said. He had had difficulties throughout his life with

an alcoholic father and a mother who suffered from depression. Between the ages of one and three, he had lived with an uncle before going back to his parents, even though the uncle had wanted to adopt him. He was now on medication, and while his only income was £188 per week in disability benefit, he hoped he could eventually go back into practice if he could find a solicitor’s firm willing to employ him. His counsel, Seamus Tuathail, said he was the type of person who could readily sympathise with others, but “perhaps overdo it”. Paul Anthony McDermott BL, for the Law Society, said Mr Maher had fallen for the “classic scam” whereby a person is informed, usually by email, they had won the lottery in Nigeria and all they had to do was forward their bank details and £5,000 to collect their winnings. A psychiatrist for the Law Society had found his condition was triggered by falling victim to the scam and expressed concern there could be another lack of judgement in the future, Mr McDermott said.

Court quashes probe, indictment of former FCT CJ Tunde Oyesina Abuja

Federal High Court, sitting in Abuja yesterday set aside the probe and indictment of a former Chief Judge of the Federal Capital Territory, FCT, High Court, Justice Mohammed Lawal Gunmi.

The judgement was sequel to a suit filed by Gunmi seeking to quash his probe and indictment by the NJC over allegations of corruption and abuse of office. A company had petitioned the NJC, alleging that Gunmi abused his office. Gunmi, however, approached the court to stop the probe.

But during the pendency of the suit, the NJC went ahead to probe and indict Gunmi. Gunmi had voluntarily retired from service in May 2013 to ascend the throne as the Emir of Gunmi after the death of his elder brother. Before his retirement, a company, Nestello Gateways Group, wrote to the NJC, alleging that

Gunmi abused his office by handing over the company’s property to the Governor of Zamfara State, Abdulaziz Yari after an Abuja High Court had ruled against the governor. Another judge of the court, Justice Jude Okeke had, in a judgement, ordered the company to take possession of the property in question.

country to mentor them, provide support services and link them up with financial institutions. Speaking during the launch of the NBDS and the unveiling of the National Business Development Services Market Place in Abuja, Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said that the new initiative marked another milestone in the current administration’s determination to reposition the MSME sector as the major driver of inclusive and sustainable economic growth in Nigeria.

CBN tells Jaiz Bank to attach 2014 account with application Abdulwahab Isa Abuja

he Central Bank of Nigeria (CBN) has directed the board of Jaiz Bank plc, Nigeria’s foremost non-interest bank to represent its application for upgrading to a national bank and attach the bank’s 2014 audited account report along with the application. With the renewed directive by the apex bank, the bank has expressed optimism that its national license would be handy ‘hopefully by the second quarter of 2015”.

Managing Director/ CEO of Jaiz Bank plc, Muhammad Nurul Islam, exclusively told New Telegraph yesterday, in Abuja, at a sideline of event for conferment of ISO certification and certificate of PCI compliance on the bank. The bank started operations in 2012 as a regional bank with three branches, but has rapidly grown to 17 branches across areas of its operations, while the board has filed application with the CBN for upgrading to a national bank with presence in all the six geo-political zones of the country.

Senate approves $300m bond for Jonathan

he Senate yesterday jerked up the request of President Goodluck Jonathan for $100 million bond to $300 million. The Red Chamber gave the approval for the bond after the Senate Joint Committee on Local and Foreign Debts and Finance submitted its report on the request for consideration. The committee stated in the report that the proceed will be used to construct key capital projects in priority sectors of the economy like the LagosIbadan Expressway, Second Niger Bridge and the

infrastructure of Abuja Medical Centre. It would be recalled that last year, Jonathan wrote to the Senate, requesting for an increase in the amount to be raised through the Diaspora bond from the international capital markets. According to the President, the proposed increase in the Diaspora bond is to fund critical infrastructures in the country and to accommodate a greater number of Nigerians in the Diaspora, who have interest to invest in the development of the country

Jakande urges Nigerians to vote for credible leadership Tony Okuyeme

head of the coming general election, former Governor of Lagos State, Alhaji Lateef Kayode Jakande (CON) has called on Nigerians to make the best of this opportunity to make life

better for every Nigerian and to make Nigeria greater and better. He also called on those that are aspiring to leadership to submit themselves to the people, and to give priority to the development of Nigeria.

NEW TELEGRAPH WEDNESday, March 18, 2015

No bloody elections, says Buhari Johnchuks Onuanyim Abuja

he All Progressives Congress (APC) presidential candidate, Major General Muhammadu Buhari, yesterday raised hope of violencefree elections on March 28. He told media entrepreneurs in Abuja that Nigerians would go to the polls in less than two weeks without any bloodshed. He gave the assurance against the palpable fear that the elections would be marred by violence. Buhari, who took questions from journalists, reiterated his earlier statement that he accepted responsibility for his past actions and he is now a democrat. He said: "Our country is on the verge of something new. The tide has turned and the world can sense the wave of change that is about to flood this nation. In less than two weeks, the

Nigerian electorate will head to the polls to make their voices heard through the ballot, without a single shot fired. A change revolution will likely take place. "There are two specific reasons why I have invited you here today. The first is to use the opportunity to say a special thank you to the Nigerian media for the role you have played in advancing our country's democracy thus far, and especially for being a platform through which Nigerians' cry for change was articulated all around the world. "On newspaper pages, TV screens and radio waves, the alarming depth of corruption and impunity in our country, the terrifying level of insecurity, and the grim state of our economy were kept constantly before the world's eyes, making it impossible for the current government to doctor the truth, despite their meanest efforts.

"I urge you not to relent in your role as watchdogs, to continue to be the voice of the people. The health of Nigeria's democracy rests partly on you. Without a robust and thriving media, the masses would have no voice. The electorate would also not have sufficient information to make sound decisions, such as deciding to vote out a clueless government and vote in change. "Secondly, I want to give you my full assurances that in this democratic dispensation, I will ensure that the Nigerian constitution is upheld. This includes respect for the media, respect for the right to free expression and freedom of speech. I have said elsewhere that I cannot change the past. But I can change the present and the future. Dictatorship goes with military rule, as do edicts such as Decree 4. However, I am a former--former, note the emphasis on the word 'former'--military ruler and

now a converted democrat, who is ready to operate under democratic norms. "I am not only subjecting myself to the rigours of democratic elections for the fourth time, but even after being elected, I will continue to promote the consolidation of democracy in our great country, Nigeria, by guaranteeing that the media's freedom is not compromised in any way. I give you my full assurances that the Nigerian media will be free under our APC government." Buhari urged the media owners to help in shaping positive public discourse and eschew hate speech heating up the polity. On whether he would form a national government if he wins the poll, he said: "This is an issue which cannot be decided by a presidential candidate; it is a serious party issue that must be subjected to thorough discussion. Just because I have earned the presidential

candidature by winning the primaries doesn't mean I will impose my personal opinion on an issue as this. The party hierarchy must participate in such an important national decision." On his manifesto, he said his administration would give priority to security, fighting corruption and rejuvenating the economy. "We can put all Nigeria's trouble under one of them. And for our most urgent problems, I emphasised education and then infrastructure, followed by NEPA (electricity). NEPA would be the first because of the hearings conducted by the National Assembly where the National Assembly was constitutionally concerned about the corruption in the administration of the pension fund, in the petroleum industry, and in power." According to him, with stable power supply, artisans such as welders and tailors, as well as indus-

L-R: National Chairman, All Progressives Congress (APC), Chief John Odigie-Oyegun; the party’s presidential candidate, Major General Muhammadu Buhari and former Vice-President Atiku Abubakar, at a meeting with media executives in Abuja…yesterday.

TAN members in Diaspora root for Jonathan

t was moment for the celebration of the administration of President Goodluck Jonathan recently when Nigerians living in Ottawa, Canada came together under the auspices of the Transformation Ambassadors of Nigeria (TAN) Diaspora to declare support for the re-election of President Goodluck Jonathan. The Coordinator of TAN Diaspora, Mr. George Chukwu, in his address at the Ottawa gathering said that Jonathan has made all Nigerians proud with his humane approach to governance. He noted that the presi-

dent has performed more than every of his predecessors in their first tenures, hence deserves a re-election to enable him continue the good work he has been doing. Chukwu pointed out that it was only natural and in good faith to allow President Jonathan another four-year mandate because he has justified the first mandate adequately. The TAN coordinator stated that he is excited with the resuscitation of the rail transport in the country by the Jonathan administration, which according to him had been

discarded to the realm of history long before his emergence as the nation’s leader. In his remarks, Dr. Abel Onileola, a leader of Nigerian community in Canada, emphasised that Nigerians in diaspora have after a careful assessment of all the presidential candidates in the forthcoming March 28 poll agreed to endorse the incumbent because of his performance. Onileola said President Jonathan possesses the necessary vitality, vigour and qualifications to take the nation and her citizens to the next level of

growth and development. According to him, “by all standards and considerations, President Jonathan remains the best man for the job, because the office is so strategic to all citizens, Africa and the global politics. And should be entrusted to only the best material.” Nigerians in Ottawa defied the heavy snowfall in the country to be part of the endorsement. They carried placards as they moved round the select streets declaring to the world that there is no vacancy in Aso Rock, the Nigerian seat of power, till 2019.

Meanwhile the advocacy group has fully identified with the aspiration of the PDP governorship candidate for Lagos State, Mr. Jimi Agbaje. Leading the TAN executives to a strategy meeting with the executives of all markets in Lagos State, the Deputy Chairman (Contact and Mobilisation) of the PDP Campaign Organisation, Dr. Ifeanyi Ubah with Agbaje, said they were committed to the good governance of the city. He described Lagos as home for Nigerians, hence strategic to the nation.

tries will be able to contribute more meaningfully to the economy. Buhari also defended his decision not to participate in any presidential debate. He said: "To be fair to me and to Mr. President, after 16 years of PDP and six years of his time, is there anything to debate about? Very seriously, you know the condition we are in with our experiences no matter who you are. So what should I debate there? For the presidential debate, you have a lot of persuasion to do to convince me."

I pray for Nigeria every day, says Pope Wale Elegbede

eader of the Catholic Church, Pope Francis, has written a letter to the bishops of Nigeria, stating that he prays each day for the country and her suffering people for the gift of peace. A copy of the letter from the Pope released yesterday by the Vatican and obtained from the Catholic Herald website, stated that the Pope urged the country’s bishops to help build a united front against Boko Haram terrorists. “I would like to assure you and all who suffer of my closeness. Every day I remember you in my prayers and I repeat here, for your encouragement and comfort, the consoling words of the Lord Jesus, which must always resound in our hearts: Peace I leave with you; my peace I give to you (Jn 14:27).” Addressing issues of insurgency in the country, the Pope said: “Believers, both Christian and Muslim, have experienced a common tragic outcome at the hands of people who claim to be religious, but who instead abuse religion to make of it an ideology for their own distorted interests of exploitation and murder,” the Pope said, referring to the terrorists, who have been on a deadly campaign in the North Eastern part of the country. Pope Francis, who marked the second anniversary of his election last week, noted how Nigeria, with a population of more than 170 million people, has experienced strong economic growth, attracts foreign investments and has “distinguished itself as a political player widely committed to the resolution of crisis situations” around Africa.

WEDNESday, March 18, 2015 NEW TELEGRAPH

FG announces 50% reduction in electricity tariffs lNigerians need stable power supply, not price cut, says APC

Johnchuks Onuanyim Abuja

he Federal Government yesterday announced the reduction of electricity tariffs by 50 per cent. The Chairman of the Nigeria Electricity Regulatory Commission (NERC), Dr. Sam Amadi, who made the announcement on behalf of the Federal Government in Abuja, said the reduction, which takes effect from the end of March, followed the complaints received by the regulatory agency from consumers and its decision to remove collection losses from customer tariff under the multi-year tariff order. Amadi said following the approval of the multiyear tariff order, MYTO 2.1 in January 1, 2015, the commission had received several complaints and petitions against the decision, which resulted in astronomical increases in tariff across the different consumer categories. Announcing the reduction on electricity tariffs, the NERC chairman said: “The commission has

TODAY’S WEATHER FORECAST LAGOS

23oC

14oC

Partially Cloudy

ABUJA

40oC

25oC

Partially Cloudy

PORT HARCOURT

28oC

19oC

Storms

KANO

39oC

22oC

Mostly Sunny

ENUGU

37oC

25oC

Partially Cloudy

IBADAN

23oC

14oC

Partially Cloudy

CALABAR

32oC

24oC

Storms

MAIDUGURI

ONITSHA

41oC 23oC Mostly Sunny

37o C 24oC Isolated Storms

been listening to consumers’ complaints and taking full account of the impact of the high tariff on consumers and the Nigerian economy. “Therefore, the commission has reviewed the basis of the MYTO 2.1 assumptions and has determined that it is in-

appropriate to transfer to consumers collection losses that are controllable by the DISCOs (distribution companies)." Amadi noted that following the review of the petitions, the commission conducted public hearings to gather evidence from all consumer classes on the

affordability of the new tariff." He also explained that the commission had consulted with the Chief Executive Officers of the Distribution Companies before deciding to intervene by reviewing the tariffs. According to him, the reviews were in line with

the provisions of the Electricity Power Sector Reform Act 2005 and the Business Rules of the Commission’s mandate, which allow such a decision on a petition by an interested party within 60 days. But the All Progressives Congress (APC) described

the gesture as political. APC National Publicity Secretary, Alhaji Lai Mohammad, said what Nigerians need is the availability of power not reduction on tariff. “Why is the reduction coming a few days to the elections? It is purely political,” he said.

L-R: Nollywood actor, Mr. Saheed Balogun; Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; National Coordinator, Nigerians Unite Against Terror (NUAT), Dr. Joe-Okei Odumakin; Nigerian muscians - Naetochukwu Chikwe (Naeto C) and Amanyi Oche Gabriel (Terry G) - during a rally against terror in Lagos… yesterday. PHOTO: SULEIMAN HUSAINI

Minister denies NNPC got N1.3trn subsidy from CBN CONTINUED FROM PAGE 1

occasion yesterday, also faulted the claim by the Ad-hoc Committee of the House of Representatives on Subsidy Regime that the Nigerian National Petroleum Corporation (NNPC) received N1.329 trillion as subsidy payments between 2009 and 2011 from the Central Bank of Nigeria (CBN). The minister, represented by the NNPC Group Managing Director, Dr. Joseph Dahwa, said at the NOG conference that 2015 would see a further decline in investments in the industry as a result of the price dip. She said: “Flexibility in Capital Expenditure (capex) and funding in general will be further constrained in the year 2015. “Consistently depressed oil prices will limit industry's scope to manoeuvre …and reaching the target of four million bpd. "The industry must challenge itself to raise funds in order to meet these targets.” Oil price yesterday fell to $53 per barrel after it had peaked at $60 per barrel in February. Vice-President, Shell Exploration and Production Africa, Nigeria and Gabon, Mr. Markus Droll, said "nothing much" had changed in the Nigeria's

industry, adding that the oil price fall should be a cause for concern to all stakeholders. Alison-Madueke also yesterday dismissed the claim by the House Ad-hoc Committee on Subsidy Regime that CBN paid NNPC N1.3 trillion for fuel subsidy in three years. The ad-hoc committee, in a report, had said: “NNPC deducted directly the sum of N408.255 billion (in addition to the payment of N81.648 billion by CBN in 2009, the sum of N407.801 billion (in addition of the payment of N402.423 billion by CBN) in 2010, and the sum of N847.942 billion (in addition to the payment of N844.944 billion by CBN) for 2011 contrary to section 162 of the 1999 Constitution (as amended)”. But the minister, while fielding questions from reporters in Abuja, described the report as "totally baseless, false and without foundation." According to her, subsidy payments to NNPC are not based on cash remittance and, therefore, CBN could not have remitted any cash to the NNPC for the purpose of subsidy. "The mechanics of subsidy recovery by NNPC is non-fund based but by way of credit to NNPC against domestic crude cost due. When approval certificates are received from

Petroleum Products Pricing Regulatory Agency (PPPRA), their values are deducted from crude oil cost due in a given month after due consideration of what is approved. "All such approvals and deductions are regularly copied to other relevant agencies of government such as Federal Ministry of Finance (FMF), Office of the Accountant General of the Federation, Budget Office of the Federation, Federation Accounts Allocation Committee (FAAC) and Revenue Mobilisation and Fiscal Allocation Commission. "In the advice on subsidy deductions forwarded to FMF, NNPC always states that: in line with presidential directives, the FMF should authorise the Accountant General of the Federation to source for the approved subsidy amount and transfer same to the Federation Account for onward distribution by FAAC,” she stated. She accused the ad hoc committee of doing a shoddy job. "It is grossly inaccurate and misleading for the ad hoc committee to claim that NNPC made “double deductions” by deducting subsidy at source and simultaneously receiving payment for the same purpose from CBN," she added.

The conclusion by the committee of double payments to NNPC, she said, ‘obviously accounts for the erroneous and outrageous sum of “N2, 587.087 trillion” (N2.587 quadrillion?) as total subsidy payment for 2011 as stated in the committee's report." NNPC, she added, believed that the ad hoc committee’s assignment was a serious and important assignment for the nation for the purpose of “verifying and determining actual subsidy requirement…” and put to rest the issue of subsidy once and for all. Alison-Madueke said it was unfortunate that the wide allegations, suppositions and conjectures, which form the basis of the committee's report, actually did more damage to the objectives than verifying subsidy requirement, adding that such a reckless allegation could incite the public against the oil corporation and its personnel. The minister called on the Federal Government, the security agencies and Nigerians to demand full disclosure on the allegation in order to set the records straight. She called on the ad hoc committee to disclose the source of its data and disclose to the nation the demand note for the payment, the bank and account to which the amount

was paid and the purpose for which the money was expended and by who. Meanwhile, AlisonMadueke, who is also the president of the Organisation of the Petroleum Exporting Countries (OPEC), has said the cartel will call for an emergency meeting if the price rout continues. The global effort, which is being coordinated by Algeria, is to provide cooperation against the oil price rout. Algeria’s Energy Minister, Youcef Yousfi, said his country was seeking to coordinate this global response from oil-producing nations to tumbling prices. “The drastic fall in oil prices has had an extremely negative impact on the economies of all exporting countries, whether OPEC or not members of the Organisation of Petroleum Exporting Countries,” Yousfi said after a meeting in Algiers with Nigeria’s Ambassador to Algiers, Haruna Ginsau and Angolan Oil Minister, Jose Maria Botelho de Vasconcelos. A report yesterday by Algeria Press Service said the meeting in Algiers was part of an initiative by the country's president, Abdelaziz Bouteflika, to increase dialogue between oil exporters, members and non-members of OPEC and to restore balance to the oil market.

News

NEW TELEGRAPH WEDNESday, March 18, 2015

War on terrorism not over, says Soyinka Wale Elegbede

obel Laureate, Professor Wole Soyinka, has warned Nigerians not to be complacent with the war on terror over successes being recorded by the military against insurgents in the North Eastern part of the country. Speaking yesterday in Lagos at a national rally against terror organised by a group coordinated by Dr. Joe OkeiOdumakin, Nigerians Unite Against Terror (NUAT), the Nobel Laureate urged the citizens to shun any divisive tendencies, stating that Nigerians are one irrespective of tribe, language or leaning. In a message read on

his behalf at the rally by Okei-Odumakin, Soyinka said a people united can never be defeated or divided. He said: "I regret my absence at the rally for an urgent mission. However, I urge Nigerians to shun those things that tend to divide them. Despite recent successes by our army, we must understand that the battle is yet to be over. Every citizen must be on the front burner, irrespective of religion, ethnicity or political leanings," Soyinka said. Also speaking at the rally, Minister of Finance, Dr. Ngozi Okonjo-Iweala, noted that concerted efforts must be taken by all and sundry to ensure that terror activities abate in the

country. While commending the organisers of the rally, the minister stated that such effort was what Nigeria needed, adding that: "They will not win. We will defeat them.” "This is what we need for Nigeria. We are one Nigeria, we should not be bombing each other. When I went to Chibok,

CONTINUED FROM PAGE 1

governments." Responding to questions whether there were discussions on the forthcoming elections, Minimah said: "I am not competent to speak on that matter. "INEC is still there, INEC has to re-assess the situation and evaluate because the areas have been liberated; but I can also tell you that not all structures of governance has been reinstated and they will need to be reinstated so that citizens can go back to their areas and it is then I think they can execute their rights as voters. How soon? I don’t know." Asked whether the military will conclude operations in the North-East before March 28, the Army chief said, "war is war." On the whereabouts of the over 200 schoolgirls kidnapped in Chibok, Minimah said there was no clue yet on their location. Besides the president who chaired the meeting, those in attendance included Vice-President Namadi Sambo; Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim; Chief of Staff to the President, General Jones Arogbofa (rtd); National Security Adviser (NSA), Colonel Sambo Dasuki (rtd); Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN). However, the Newspaper Proprietors' Association of Nigeria (NPAN) has warned against further vote delay. According to the association, the rescheduled general elections must be allowed to hold by all stakeholders and Nigerians should support whoever emerges the president

here together to say terrorism will never work," she added. The minister commended the soldiers for their sacrifice, pledging that the Federal Government will continue to support security operatives fighting to conquer the insurgents. Earlier in her opening remarks, Okei-Od-

umakin explained that the Lagos rally was the 15th rally by the group across Nigeria, stating that, “Irrespective of our religious or political affiliation, we must join hands to ensure we have a violence-free country. All of us must take responsibility and ensure we are vigilant,” she said.

Geneva returns $380m Abacha loot Sunday Ojeme

he Geneva Public Prosecutor’s office has concluded arrangement to return about $380 million looted by the late former Head of State, General Sani

NPAN insists polls must hold on March 28 February 14, was shifted by six weeks on the demand on the service chiefs who said they needed the period to conclude operations to dislodge Boko Haram from seized territories in Adamawa, Borno and Yobe states. The first set of the elections will now hold on March 28. With about two weeks to the elections, the military has sacked Boko Haram from about 40 towns, the latest being Bama, in Borno States. Jega emerged from yesterday's meeting after about two hours, but declined to give details on what transpired. The meeting kicked off about 11: 45pm and continued when the he left around 2:42pm. When reporters accosted the INEC boss on his way out, he simply responded, "I believe it went well." But the Chief of Army Staff, Lt. Gen Kenneth Minimah, who addressed State House correspondents after the meeting, said the council reviewed the North-East operations, particularly in the last three weeks and renewed its confidence in the Nigerian Armed Forces and commended them too. "You know Yobe and Adamawa states have been liberated completely and we look forward to the reinstatement of structures of government and governance. I am also sure you know that in Borno State, out of the 27 local governments, we have three local governments remaining-Abadam, Kalabaldi and Gwoza-- and we are optimistic that with time, we will liberate those local

I saw the devastation wreaked on the parents from the loss of their daughters. The spirit of Chibok should be the spirit of Nigeria for even though the parents were in pain they continue to go on. "I am most touched that in spite of the widows, orphans, internally displaced people we are

in the poll. NPAN, in a communiqué yesterday by its President, Mr. Nduka Obaigbena, after a meeting in Abuja, also urged all stakeholders to work for the conduct of free, fair and credible polls. It said: “The election must be free, fair and held in such a way that it will deepen the nation's democracy, such that at the end of the electoral process, Nigeria must be the winner. “We call on the people of Nigeria, especially political leaders across the nation, to eschew every form of violence. The prevalent do-or-die attitude is unnecessary, unhelpful and unhealthy for our system of democracy. We must all say no to violence before, during and after the election.” Meanwhile, former Minister of Information, Professor Jerry Gana, and the INEC have disagreed over the use of card reader for the elections. Gana, at the public presentation of a book, "Guide to Understanding Electoral Offences", written by an INEC official, challenged the commission to explain to Nigerians the technology it will use for the elections. Gana, who is Director, Contact and Mobilisation of the Peoples Democratic Party (PDP) Presidential Campaign Organisation, said the people were suspicious of the functionality of the card reader and the commission should reconsider its position. But INEC’s Director of Voter Education and Publicity, Oluwole OsazeUzzi, said introduction of technology was inevitable whether now or in future.

Abacha, to the Federal Government. The authorities said yesterday that the move followed a deal entered into by the Federal Government and the Abacha family, adding that the Geneva file on the affair, ongoing since 1999, would subsequently be closed. Nigeria has long been chasing funds taken by the Abacha clan while Sani Abacha was in power from 1994-1998. Overall, the Abacha clan is thought to have diverted a total of about $5 billion from the Nigerian treasury. Much of it ended up abroad. The Federal Government under President Goodluck Jonathan had

cut a deal with the Abacha family over looted funds as part of an arrangement to curry political favour. The $380 million in question was seized in Luxembourg in 2006 on the orders of the Geneva justice authorities. The funds were under the control of various companies controlled by the Abacha family, which is considered a criminal organisation, the prosecutor’s office said in a statement. The repatriation and confiscation of the Geneva funds followed the conclusion of an agreement in July 2014 between Nigeria and the Abacha family. This set out the confiscation of the assets

and their return to Nigeria, as well as Abuja dropping its complaint against Abba Abacha, the son of the former dictator. According to the statement, the confiscation order “allows for, among other things, that the funds restituted to the Federal Republic of Nigeria are monitored by the World Bank. If the monitoring is not effective, the funds will be returned to the Geneva authorities.” The statement also said that the file against Abba Abacha was now closed, based on an article in the penal code which allowed criminal proceedings to be abandoned once the defendant had made amends as much as was possible.

are you the one we are looking for? A fast-growing newspaper needs the services of the following: 1. Online Editor 2. Production Editors 3. Head, Supplement 4. Business Development Executives – South East, South South and North West ONliNE EDitOr: Candidate for this post must have at least a first degree in Mass Communication, Social Sciences or Arts and 10 years’ post-qualification experience, four of which must be in the online department of a reputable newspaper. The candidate must have good writing and editing skills, news judgment and be Internet savvy. He must be able to generate content for the web edition of the newspaper. PrODuctiON EDitOrS: Candidates for the post must have at least first degree in Mass Communication, Social Sciences or Arts and 10 years’ post-qualification experience, four of which must be in a similar position. In addition, the candidates should have strong computer skill and an eye for details. They should be able to drive the production process in such an efficient manner to ensure that the production deadline is timely met. HEaD, SuPPlEmENt: Candidate for the post must have at least first degree in Mass Communication, Social Sciences or Arts and seven years’ post-qualification experience. He/she must have strong editorial background with good writing skills. He must have proven track record in supplements and event execution and must be able to conceive and execute revenue-generating ideas. Business Development Executives in: i. South East ii. South South iii. North West Candidates for the post must possess a minimum of HND/BSC in Mass Communication, Marketing or Social Sciences with at least 3 years’ post qualification experience in similar position. He/She must have very strong communication skill and must be able to meet required sales target. Such candidates are also expected to reside in zones applied for. interested candidates should direct their applications to tHE HEaD, aDmiNiStratiON, DailY tElEGraPH PuBliSHiNG cOmPaNY limitED, 1, aJimOBi StrEEt, OFF acmE rOaD, aGiDiNGBi, iKEJa, laGOS or newjobstoday2015@gmail.com. The applications should reach the company within one-week of the publication of these vacancies.

NEW TELEGRAPH wednesday, march 18, 2015

igeria’s $1.55 billion sovereign wealth fund had a “good year” after weighting its investments toward dollar assets, according to Chief Executive Officer Uche Orji. “Our currency position was great as we were very long the dollar,” Orji, a former Goldman Sachs Group Inc. banker and head of the Nigerian Sovereign Investment Authority (NSAI), said in an interview with Bloomberg in Geneva on Monday. “It was the only game in town.”

Nigeria’s wealth fund has ‘good year’ dollar investments NSAI, set up by President Goodluck Jonathan in 2011, gained exposure to the dollar through equities, private equity and fixed-income assets, said Harvard-trained Orji. The fund, which invests revenue generated when the oil price exceeds that budgeted by the government of Africa’s biggest crude producer, has adjusted to

Sanitation: Lagos asks Appeal Court to upturn judgement Akeem Nafiu

he Lagos State Government has asked the Court of Appeal, Lagos Division, to upturn the judgement which declared as unlawful the restriction of citizens' movement during the monthly environmental sanitation exercise in the state. It will be recalled that Justice Mohammed Idris of a Federal High Court in Lagos had on Monday, declared that the movement restriction policy of the government was illegal and a violation of the citizens' right to personal liberty and freedom of movement as protected by sections 35 and 41 of the Constitution. However, Lagos State Government, through the State's Solicitor-General, Lawal Pedro (SAN), in the Notice of Appeal, is contending that the judge was wrong to have made such a declaration. Pedro, in the notice

of appeal filed yesterday, insisted that the judge did not consider all other relevant provisions of the law before making his decision. The silk listed sections 24 (d), 34(2) (e) (i) and 45 of the Constitution and the Enviromental Sanitation Law (Edict No. 12 of 1985) as those other relevant laws that Idris failed to consider. According to him: "The court is deemed to know and is obliged to consider all relevant provisions of the Constitution and existing laws before arriving at its judgment. "The above provisions of the Constitution and the law of Lagos State provide for the performance of normal communal or civic obligation for the wellbeing of the community", he said. "The public health of the community, therefore, overrides the personal interest of the applicant," Pedro argued further.

Communique at the end of extra-ordinary meeting of the Newspaper Proprietors of Nigeria (NPAN) in Abuja on March 17, 2015

he Newspaper Proprietors Association of Nigeria( NPAN) on March 17th , 2015 held an Extra-Ordinary Meeting in Abuja. After exhaustive deliberations, and review of the political situation in Nigeria, the NPAN unanimously agreed as follows: The general election must hold on March 28th and April 11th as scheduled by the Independent National Electoral Commission ( INEC). The election must produce an outcome and Nigerians must rally around whoever emerges the winner. This election is for and by the Nigerian people and it must be free, fair and held in such a

News

national

way that it will deepen the nation's democracy such that at the end of the electoral process, Nigeria must be the winner. We call on the people of Nigeria, especially political leaders across the nation, to eschew every form of violence. The prevalent do-or-die attitude is unnecessary, unhelpful and unhealthy for our system of democracy. We must all say no to violence before, during and after the election. Many Thanks Signed: Nduka Obaigbena President, Newspapers Association of Nigeria ( NPAN )

the market slump since June, he said. “The budget was at $75 and we all know where the oil price is now, so you don’t expect any contributions to the fund,” said Orji, who was attending the Africa CEO Forum in Geneva. “We prepared ourselves for the impact.” Nigeria relies on crude exports for about 95 percent of its foreign-currency earnings and about 70 percent of government revenue.

The authority’s private-equity investments were “very successful” last year, said Orji, who declined to be more specific before the release of the fund’s annual report in the coming weeks. The NSIA’s mandate embraces a mix of stabilization, savings and infrastructure funds, while outsourcing to a range of asset managers, including Goldman Sachs and UBS AG. The Nigeria infrastructure fund, which has in-

vested in toll roads and gas pipelines, has yet to allocate most of its $400 million, said Orji. While the European Central Bank has commenced a 1.1 trillion-euro ($1.17 trillion) quantitative-easing programme to help resuscitate the region’s sluggish economy, Orji said his view on the ECB hasn’t changed. “We will see whether there is the political will to sustain it,” Orji said. “The political environment to

make these things happen is a lot easier in the U.S. than anywhere else.” Finance Minister Ngozi Okonjo-Iweala said last year the federal government is targeting $5 billion for the wealth fund in the medium term. Orji said he doesn’t have a target and declined to comment on Nigeria’s elections that start March 28. “You’ve got to able to look beyond these single events,” he said. “My No. 1 job is to keep these funds safe, and No. 2 is earn a return. Do I have the right asset allocation, do I have the right risk management in place? – those are the things that keep me up at night.”

L-R: Deputy Managing Director, Nigeria Liquefied Natural Gas Limited (NLNG), Isa Inuwa; Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Ernest Nwapa; Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Joseph Dahwa; General Manager, Finance, NLNG, Solomon Folaranmi and General Manager, External Relations, Kudo Eresia-Eke, during Dahwa’s visit to NLNG stand at the ongoing Nigeria Oil and Gas Conference and Exhibition in Abuja

Surety withdraws consent in Fani-Kayode’s suit Akeem Nafiu

here appears to be more trouble for the Media Director of Goodluck Jonathan 2015 Presidential Campaign Organization, Femi Fani-Kayode, as one of his sureties had applied for withdrawal of his consent in the bail granted to him in the money laundering case slammed on him by the Economic and Financial Crimes Commission (EFCC). The surety, Mr. Wale Ajisebutu, who stood as a surety for the embattled Fani-Kayode in the bail, has officially sought the permission of the court to withdraw his suretiship. Fani-Kayode is being prosecuted by the antigraft agency over alleged money laundering offences he committed while serving as both Minister of Culture and Tourism and Aviation. Ajisebutu, according to court papers, has formally made an application to Justice Rita Ofili-Ajumogobia, who is presiding over the trial, to withdraw from the case as surety to Fani-Kayode. The surety had hinged his application on the

ground that he urgently needed to make use of the Certificate of Occupancy (CofO) he deposited to the court to secure FaniKayode's bail after his arraignment for the money laundering crime. The application was initially scheduled for hearing yesterday, but had to be deferred to another date at the instance of the defence. The matter has been adjourned till March 26 for hearing of the application and continuation of trial. At the last proceedings of the accused trial, FaniKayode's first defence witness, Kola Olapoju, had admitted that the transactions that led to the trial were “unusual and exceptional.” Olapoju made the concession under cross-examination by EFCC's lawyer, Festus Keyamo. The witness, who claimed to be a lawyer and co-administrator of the estate of Fani-Kayode’s late father, had in his evidence in chief, told the court that while the accused was in public service in 2006, he requested for funds from the said estate of his father to pay artisans who effected repairs on a property.

Dangote’s refinery to start in 2017 Adeola Yusuf

new $9 billion oil refinery producing 500,000 barrels per day being developed by Africa's richest man, Aliko Dangote, is expected to come on stream in Nigeria by 2017. A senior Dangote Group official, who spoke yesterday, maintained that the refinery to be located in Lagos, would cut reliance on international markets for Africa's largest oil producer, which imports more than 80 per cent of its fuel needs. The lack of sufficient refining capacity is a major handicap in Africa's biggest economy. "By the third quarter of 2017, we expect to be looking at commissioning," Mansur Ahmed, Dangote Industries Ltd's Executive Director of Stakeholder Management and Corporate Communications, told Reuters at an African refiners' conference in Cape Town, South Africa. The refinery is being designed to process

Nigerian crude mix and produce products conforming to Euro V fuel specifications, as fuel demands across the continent are forecast to rise rapidly with many countries enjoying strong economic growth. Poor infrastructure, competitive global markets and financial constraints have traditionally held back Africa's refining capacity, while fuel subsidies in Nigeria are also an issue, said Ahmed, who spoke on behalf of Aliko Dangote. Ahmed said the refinery, which is being funded by debt and equity, including a $3 billion commitment from Dangote himself, could list in future should additional capital be needed. "In the past, when we have reached a point where we feel we need to increase capital we have listed," Ahmed said. "We have listed our cement business, we have listed our sugar business and our salt business... and, if you like, history is the best teacher."

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Metro

Police rescue kidnap victim, arrest suspect Kunle Olayeni Abeokuta

The Burnt tanker. Inset: The burnt house

EXPLOSION Fire kills cows, destroys vehicles, houses, etc in a fuel tanker explosion in Ikorodu area of Lagos Jimoh Taiwo and Muritala Ayinla

wo persons were feared killed while over 100 traders were displaced yesterday when a fuel crashed and exploded at Ebute area of Ikorodu, Lagos State. Witnesses said that two persons were burnt to death in the explosion which occurred about 6:45am. One of the victims was the conductor of the tanker, while the other

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

PHOTOS: GODWIN IREKHE

Two killed as tanker explodes in Lagos a motorcyclist. Two cars, two cows and many buildings were also burnt. The tanker was going towards Odo Eran Bus Stop when it lost control and tumbled to the other side of the road. It fell on a Mazda 606 car. Both vehicles went up in flames. The fire spread to a nearby abattoir which hosts some of the affected uncompleted buildings, a cold room, makeshift structures and two cows meant to be slaughtered yesterday. A butcher, Isah Waheef Akanji, 32, said that he escaped death by a whisker, but his Toyota Camry car and N220,000 got burnt. He said: “The fire erupted five minutes after I parked my car and went to the abattoir to inspect the cow which I booked for the previous day. I tried to call the seller when the tanker tumbled and went up in flames but the thick smoke was

too much. I ran away from the scene, leaving the car.” Some of the traders said they were trading with loans which they obtained from the bank. Bella Oladunni (37), Adidas Salami (45) and Michael Oseni, said their makeshift structures were fully stocked before the incident. One of them said that he just stocked his shop on Monday. Aminat Aliyu, 47, a widow, said she lost her source of livelihood to the incident. Another trader, Fausat Akeusola, however, thanked God for sparing her goods. She said her son was able to salvage her goods as soon as the fire alarm sounded. Akeusola added that although she lost recharge cards to the inferno, other goods were salvaged by sympathisers. While hoodlums allegedly carted away some wares, firefighters were attacked for com-

ing late. The Chairman, Traders’ Association, Alhaji Taliatu Lawal, said he ran to the scene from his hospital bed. He said: “I was on admission in Ikorodu General Hospital when I received the distress call. We want the government to come to our aid.” The Director, Lagos State Fire Services, Razak Fadipe, confirmed the incident. He said his men got to the scene around 7.15am. Fadipe, however, said it was only a man of about 35 years old who died in the incident. According to him, the man died while trying to escape the inferno. He said: “The 35-year-old man might have died while trying to escape the fire when he fell into the gutter. Others who sustained injuries, I mean serious burns, have been taken to the General Hospital, Ikorodu. The incident happened at Odo Eran area in the town.”

he Special Anti-Robbery Squad of Ogun State Police Command has rescued one Mrs Abosede Adenuga from suspected kidnappers. The SARS team, which rescued the victim, also arrested a member of the gang identified as Tunde Akilo. The state Police Public Relations Officer, Muyiwa Adejobi, said in a statement yesterday that the victim was kidnapped from Lagos State at 10:50pm on Monday. Adejobi disclosed that items recovered from the gang included one locally-made cut-to-size double-barrelled gun loaded with one live cartridge, four live cartridges, a Volkswagen car with registration number MUS 471 AU used by the kidnappers and assorted charms. He said: “The SARS operatives of the command, who had been deployed to police the Ibefun-Ikorodu Road where some suspected kidnappers operate and hide their captors, were informed of the kidnapping case by some informants that the gang was heading to Ijebu axis to hide the captors but the kidnappers met their waterloo when they were ambushed by the police at Imodi Ijasi on Ijebu OdeIkorodu Road, who rescued the captor and arrested one Tunde Akilo. “The kidnappers, who noticed police presence, jumped on a motorcycle to escape, but they were given a hot chase by the police operatives who used another motorcycle to pursue them before the arrest of the suspect and the rescue of the victim.” Adejobi said the Police Commissioner, Valentine Ntomchukwu, had already commended the SARS men who carried out the operation. He added that the commissioner had directed that the matter be properly investigated while other fleeing members of the gang be apprehended without delay. The PPRO assured the people of the state of proper investigation into the matter, stressing that justice would be done. He also reiterated the command’s commitment to adequate protection of lives and property of the people.

Metro 11

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

‘We raided cemeteries at night for human parts’

Arms and ammunition recovered

Sola Adeyemo Ibadan

suspected tomb raider, Taiwo Akinmola, has said that his gang usually visits cemeteries in the night to exhume bodies to get human parts. Akinmola was paraded yesterday alongside other members of his syndicate at the Oyo State Police Command headquarters, Eleyele, Ibadan. He said: “We normally visit

the burial ground around 9 pm to get human parts. The order we had was to get human skull on the day we were caught. Unfortunately, we did not get what we wanted until we were caught.” Other suspects are Abati Kolade, Ramon Korede, Mojeed Adediran and Mrs Saki Adediran. On her own part, Mrs Adediran said that she paid about N4,000 for each of the body parts supplied.

‘I embraced robbery to further my education’ Juliana Francis

25-year-old suspect, Tunde Olanrewaju Animashaun, said he took to robbery because he needed money to fund his education. Animashaun, who was arrested when he went with two seasoned robbers to attack a pharmacy, added that a friend in the underworld told him robbery was an easy vocation. The suspect also said he was apprehended during his first attempt at robbery. He added that he never had any intention to rob, but changed his mind after his friend, Biodun, convinced him it was an easy way to make money. Animashaun was arrested, while his friend and the third gang member escaped on their operational motorcycle. To further show how green Animashaun was on the job, he briefly stopped to assist Biodun pick his fallen gun while they were trying to escape. But before he could stand up after picking the gun, the residents swooped on him. The suspect was arrested by a team of policemen attached to the Special Anti-Robbery Squad (SARS), Ikeja, Lagos State by the Officer in Charge, Mr Abba Kyari. According to Animashaun, Biodun was the cause of his present predicament.

She said: “I normally buy a human skull for N4,000. The amount paid on other parts varies.” The state Commissioner of Police, Mohammed Katsina, also paraded nine suspected car snatchers nabbed in Lagos, Ogun, Oyo, Kwara and Kano states. The commissioner said the tomb raiders were arrested while carrying out their nefarious act at a Muslim cemetery located at Apete area of the city. He said: “Following a petition from a member of the public directed to the office of the state Commissioner of Police and forwarded to the State Intelligence Bureau, a discreet investigation into the criminal activity taking place at Muslim Cemetery, located around Lifefort International School, Apete in Ibadan, began. “The carefully coordinated investigation led to the discovery of about six graves that had been excavated by unknown perpetrators. Fortunately, a clue left behind by the suspected criminals helped us in our further investigation. Five persons were later arrested in connection with the crime and they have confessed their

involvement.” Katsina said the arrest of one Adejuwon Olanipekun aka Marchal, a member of a notorious armed robbery gang which specialised in snatching porch cars at gunpoint on February 19 in Lagos led to the arrest of five others. Other suspected car thieves are Funsho Aderopo Otuyalo, Oyelade Ganiyu, Baba Aliu (receiver based in Kano), Yahaya Muhammed (receiver based in Kano), Oladotun Oluwafemi, Babalola Kazeem (aka Omo Alhaja) and Suaibu Busari (aka Damenda). The commissioner said that two locally-made cut-to-size single-barrelled guns with two live cartridges and 49 live berretta pistol ammunition were also recovered from the suspects. Also recovered from them are one unregistered black Toyota Corolla, one Honda Accord car, a Ford car with registration number KSF 342 CY, two Honda Accord cars (E.O.D) with registration numbers EPE 814 CD and ABJ 777 CK , Toyota Corolla (metallic grey) marked LND 756 CK and one ash Toyota Camry with registration number KRD 708 DD, among others.

We targeted businessman for driving different cars, say suspects Shola Adefuwa and Gbemisola Oyedepo

our suspected kidnappers, arrested while plotting how to abduct a business tycoon in a hotel room have said they targeted the man because he was driving different cars. The suspects, Edet Ekuno, 32, Sunday Samiga, 24, Hope Edet Okon, 27, and Unagbon Isaiah, 31, said they were shocked when detectives from the Special Anti-Robbery Squad (SARS), Ikeja, Lagos, stormed into their hotel room, disrupting the ongoing meeting and slamming handcuffs on them. The suspects are supposed to be five, but a cab driver, who used to bring details about prospective victims, is presently on the run. The police recovered two locally-made pistols and 18 live cartridges from the suspects. Okon, an undergraduate, studying Computer Engineering at Uyo State Polytechnic, said: “We planned to attack the businessman on his way to work in the morning. We targeted him because our informant said he drives different cars. We assumed he is rich. It is only rich men that drive different cars. It was the cab driver who gave us

The suspected kidnappers with guns and ammunition recovered from them

information about the businessman.” The state Commissioner of Police, Mr Kayode Aderanti, who presented the suspects to journalists, said that around 2am on March 7, he got information that some kidnappers were lodging at D2 Hotel, Ojodu-Berger, Lagos, perfecting plans to kidnap a businessman in Magodo Estate. He said: “Immediately I got that information, I instructed the Officer in Charge of SARS (OC), SP. Abba Kyari, to trail and stop the suspects before they struck. The suspects were arrested in their hotel room.” Okon also confessed that in 2012, the gang attacked a man at 15 Golden Estate, Ajah. It

was, however, a foiled attack because the screams of the man forced them to run. He added: “We also had a deal in Akwa Ibom State. The deal fetched us N5 million. I got N800,000 as my share. We kidnapped a doctor. The family paid N5 million ransom. I used my share to start a poultry farm. The poultry, however, collapsed.” The suspect said he regretted coming to Lagos to join crime. Okon disclosed that he was doing well as an estate agent in Akwa Ibom State. “If I had remained in Akwa Ibom State, I would still been receiving nice commission for sales of land.”

Metro Briefs Notorious robber dies in Osun shootout Adeolu Adeyemo Osogbo

olice in Osun State yesterday killed a notorious armed robber simply called Abbey when they stormed his hideout at Modakeke area of the state. The robber was killed after he engaged a team of the Special Armed Robbery Squad (SARS) led by the Officer in Charge, DSP Omoyele Adekunle, in a shootout that lasted about 30 minutes. Abbey was said to be responsible for all highways and bank robberies which had claimed the lives of many innocent people in the state in the last few years. It was learnt that Abbeys gang usually lays siege to Akure-Ilesha Expressway to rob passengers of their belongings after frisking them from head to toe. A police source disclosed that the late robber and his five-man gang were known for molesting and killing innocent people.

Pre-poll killings worry Rivers Comfort Chukwu

he Rivers State Government yesterday raised the alarm over the number of people who had been killed or maimed in the pre-election violence in the state. The Commissioner for Health, Dr Samson Parker, told the National Council on Health meeting in Abuja that health workers in the two staterun hospitals alone had reported at least 41 gunshot injuries and 26 machete injuries in the last two months. The figure, according to him, exceeded the total cases the state has seen from Ebola Virus Disease, avian flu and cholera combined. He said all the cases were “due to political activities and clashes”. In a presentation to the council, the highest policymaking body for health in Nigeria, Parker said electoral violence was becoming an epidemic that needed a redefinition. He said: “There is an epidemic coming up, more than Ebola, avian flu and cholera.”

Be safety conscious, Ashafa tells traders Muritala Ayinla

awmaker representing the Lagos East Senatorial District, Gbanga Ashafa, has appealed to the traders in Lagos markets to be safety conscious to avert frequent fire disaster. Ashafa, who blamed the fire outbreak at Mile 12 Market at Ikosi-Ketu area of Lagos on Friday on electrical power surge, decried the inefficiency of the President Goodluck Jonathan-led Federal Government to find a lasting solution to stable and steady electricity supply in the country. He said: “You must also be safety conscious always to avert fire and other disasters. Our environment is vulnerable because traders also indulge in unsafe practices.” Ashafa also admonished the traders to be law-abiding and keep the records of their loss intact.

News

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

SOUTH-WEST

LASU crisis deepens as workers ‘sack’ VC Fayose moves to

l Convocation postponed indefinitely Mojeed Alabi

orkers of the Lagos State University, LASU, Ojo, yesterday called on the Vice Chancellor of the institution Prof. Oladapo Obafunwa to step down from his position without any further delay, even as his tenure officially ends in October. The workers also called on the Lagos State Governor, Babatunde Fashola to appoint a new “impartial” VC in acting capacity to complete Obafunwa’s tenure. The latest development, was a follow-up to Monday’s protest embarked upon by the

coalition of workers of the University under the umbrella of the Academic Staff Union of Universities (ASUU), Senior Staff Association of Nigerian Universities (SSANU), Non-Academic Staff Union of Universities (NASU) and National Association of Academic Technologists (NAAT), in response to the state’s plea that the VC be allowed to complete his term of office. At the ASUU congress held on the campus yesterday, members insisted that for the University’s 20th convocation to hold, the state government must meet about eight conditions including the removal of the VC; payment of

all the four-month salary arrears being owed them; resolution of the alleged cases of victimisation and withdrawal of PhD Certificates; readiness to access TETFund, among others. According to the Chairman of ASUU, Dr. Adekunle Idris, other state-owned Universities such as Ekiti State University, Ladoke Akintola University of Technology, LAUTECH, and Olabisi Onabanjo University, OOU, have all received N1.3 billion, N987 million and N1.2 billion respectively from the fund, saying LASU, has failed to access the fund due to what he described as the VC’s autocratic style of leadership.

He said; “It is a serious battle and we are just getting started. We are not calling for strike now, lectures are still going on but we will continue to monitor the situation, if the lives of our members are threatened then lectures will stop immediately.” Meanwhile, the university’s Centre for Information, Press and Public Relations, CIPPR, has announced the indefinite postponement of the convocation programme, saying new dates will be announced soon. The announcement was contained in an official bulletin of the university issued yesterday afternoon in response to the threat by the workers, as the convocation lecture scheduled to hold yesterday failed to take place.

L-R: The Obi of Onitsha, Igwe Nnayelugo Alfred Nnaemeka Achebe; Chairman, Board of Trustees, Stephen Oluwole Olukota Foundation for Science Education, Senator Olabiyi Durojaiye and Managing Director, Bank of Industry (BoI), Mr. Rasheed Olaoluwa, at the foundation’s 20th annual lecture and awards in Lagos…yesterday. PHOTO: GODWIN IREKHE

APC threatens to drag PDP senatorial candidate to ICC Adeolu Adeyemo Osogbo

he All Progressives Congress (APC) candidate for Ijesa-North Federal Constituency in Osun State, Jide Omoworare, yesterday threatened to drag the Ife/Ijesa Senatorial candidate of the Peoples Democratic Party, Mr Francis Fadahunsi before

the International Criminal Court for allegedly sponsoring violent attacks on its members. Chairman of the APC Campaign Committee in the area, Dr. Wale Bolorunduro, who dropped the hint in a press conference in Osogbo, said the step was to discourage such incident in the society. Bolorunduro, who condemned the PDP’s can-

didate’s action, said his resort to report the provocative incident to the ICC followed the failure of the Nigerian security agencies to call the PDP candidate to order over the terror act.” He said, “the APC members and supporters in Ilase, the hometown of Fadahunsi have been subjected to consistent attack and intimidation by the PDP chieftain who want-

ed to force the people into abandoning their original party, support and vote for the PDP.” “Fadahunsi’s hoodlums have gone to the extent of attempting to attack a female member of the APC in a church in Ilase and the political thugs were attacking people with impunity while the security agents refused to intervene in the matter.”

‘Yoruba’s purported endorsement of Jonathan, a fluke’ Sola Adeyemo Ibadan

he ‘Buhari/Osinbajo Support Organisation’ in the South West, yesterday in Ibadan dismissed the purported endorsement of President Goodluck Jonathan by the Zone for the March 28 presidential election, describing the move as

a fluke. The group’s Coordinator, Dr Femi Oluwafunmilade, said that the claim that Yoruba had endorsed the candidature of Jonathan was a wishful thinking and figment of the imagination of the elements in the zone, adding that there was never a forum where such a deal was struck.

He described the candidatures of Buhari/ Osinbajo as historic in the annals of Nigeria’s political history, stating that this was the first time the coreYoruba political group would align with the core-Northern political group, while urging the public to ignore the alleged adoption of President Jonathan as

Yoruba candidate in the forthcoming presidential election. While urging APC members in the South West not to be intimidated, Oluwafemilade emphasised that no amount of blackmail or intimidation would stop General Muhammadu Buhari from taking over the leadership of the country come March 28.

arrest Fayemi’s aides

l Planned arrest politically motivated, says APC Adesina Wahab Ado-Ekiti

kiti State Government yesterday said it may resort to the arrest of political appointees who served under the Dr Kayode Fayemiled All Progressives Congress (APC) government over their refusal to pay N109.4 million for vehicles through the monetization policy while in office. Brand new vehicles were believed to have been given to the political appointees that worked under Fayemi under the monetisation policy, but 54 of the appointees refused to complete payment for the vehicles, with some owing as much as N5 million. The government, in a release signed by the Chief Press Secretary to the Governor, Mr Idowu Adelusi, in Ado-Ekiti yesterday, said the ‘’Fayemi appointees should either pay the N109.4 million or return the vehicles without delay to avert the police being used to recover the vehicles from them.” The affected political office holders included the former Deputy Governor, Prof Modupe Adelabu (N1,393,789.00), former Secretary to the State Government, Alhaji Ganiyu Owolabi (N1,623,332.00), former Commissioner for Works, Mr Sola Adebayo, Fayemi’s Chief Press Secretary, Olayinka

Oyebode (N1,623,332.00), former Commissioner for Education and APC House of Representatives candidate for Ekiti Central I, Mrs Eniola Ajayi (N1,723,332.00), former Commissioner for Information, Tayo Ekundayo (N4,121,508.00), former Commissioner for Finance, Dapo Kolawole (N1,723,332.00) among others. The government said all its entreaties to the beneficiaries to repay the money had been abortive as letters written to them were disregarded. Meanwhile, the APC has raised the alarm that the planned arrest of former members of the state executive council by the Fayose administration was to harass and intimidate members of opposition, especially officials who served under the Dr Kayode Fayemi-led administration ahead of the March 28 presidential election. Reacting to the threat which was aired on state radio and circulated via press statements by the government, the former state officials in a statement made available to journalists, described the planned clampdown on them as a deliberate ploy by Fayose to keep them and other notable APC chieftains out of circulation ahead of the March 28 presidential election and subsequent elections.

Intel boss gives recipe for growth of science, technology Adesina Wahab Ado-Ekiti

or the nation to grow in the area of science and technology, the quality of teachers handling the subjects in schools must be improved upon and updated to meet current realities in the sector. Speaking in AdoEkiti yesterday during the final of the 2015 National Festival of School Science, the Corporate Affairs Manager, Intel Corporation, Babatunde Akinola, said the poor quality teaching of science subjects in schools was having negative effects on the development of the country. The annual national programme tagged AdoEkiti 2015, which was driven by ‘Genius Illumina,’ a private organisation in partnership with Intel Corporation. It was attended by

students of secondary schools in 27 states across the country. At the Science and Technology competition, Doregos Private Academy, Lagos came 1st and 2nd in two different exhibitions to emerge winner, while the third position went to Government College, Kastina. Akinola said the noticeable global decline in the standard of education could be tackled through public-private partnership and not through government efforts alone. “With this programme, we tend to give relevance to these kids and creating a veritable platform for them to realise their potentials. Even in the United States, jobs are there for people, but skills are lacking and that was why it is imperative to redirect and reshape the education sector. The quality of science teachers is poor in Nigeria.”

NEW TELEGRAPH WEDNESDAY, MarCh 18, 2015

General elections

Controversy

Work within ambit of law, Kalu tasks security agencies

Why PDP is afraid of card reader, by Tinubu

Card reader

Parliament

Gambari meets Obasanjo, deplores anti-Jega protests

The long-awaited PIB report

Politics What is this speculation that you are running for the Senate? To be honest with you, the rumour looks as if it is the truth. I was supposed to contest for Senate in the Peoples Democratic Party (PDP) but in the middle of the way, I backed out. When I was abroad, one of my aides used the same papers I had prepared to put up an application and when I came back and cross-checked, I saw that it was in order and given that the Independent National Electoral Commission (INEC) deadline had past and the elders of Abia North, the traditional rulers, students, everybody came on visitation to me in Abuja about two weeks ago and told me that they want me in the Senate and that the people that they are seeing now cannot represent them. They were now talking about their interests, not about me. I thought about it especially after a committee of professors who are from this area, top businessmen, they came and they said that I don’t need to spend one kobo, that they are going to pay for every expense of the campaign for me but that they want me to represent them. So, I told them that I will think about it and we are getting there and it seems we are running.

But given your flourishing business interests and your regular trips out of the country, how do you think you can give the people adequate representation? I was governor here for eight years and I sat here to do the job. I am going to do this job in the best interest of the people of our senatorial district and indeed Nigerians. I am going to be among the foremost senators Nigeria will ever have because I will like us to do the right things, be in the right places to enact laws that will enhance commerce, agriculture, industry and be able to pursue the laws not just enacting them. For example, I am disappointed that the National Assembly has not been able to do anything on the Petroleum Industry Bill (PIB). You should pass a bill whether that bill is right or wrong; amend-

Kalu: Jonathan’ll defeat Buhari by slight margin Dr. Orji Uzor Kalu, an accomplished businessman and politician, is a former governor of Abia State. He is running for the Abia North senatorial race on the platform of the Progressive Peoples Alliance (PPA). In this interview held at his country home in Igbere, Kalu opens up on his senatorial ambition, the general elections, card reader, his estranged political godson, TA Orji, governance in Abia and state of the nation. It is vintage Kalu. AYODELE OJO reports

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

going to do. We are here to promote the ideas of the Federal Government and it is going to work here. In your first contest for the Senate, you lost and here you are again running for the same office. Did I really lose? I did not vote. So, I didn’t lose. Why did you not vote? They caged me into my house with four Armoured Personnel Carriers (APCs). You know what happened.

Kalu

ments can come later in the future. You cannot leave one bill for 16 years in the House because of common interest. It is not fair to the Nigerian people, it is not fair to the industry and it is not fair to anybody. That was just an example. The politics of today requires the input of global businessmen.

ayodele.ojo@newtelegraphonline.com

Are you really saying that you are going to the Senate based on the papers filed by one of your aides? No, no, no. The papers were there because they were papers I had already signed to run on the PDP platform. So, my aide just made adjustment on them and submitted it. So, they are the right papers.

So, what do you want to do when you get to the Senate?

AYODELE OJO

DEPUTY EDITOR, PoLITICS

The president has a chance but the winning is not going to be a landslide. It is going to be a very tight victory

It is going to be a tug of war because people like me will be in the minority. But I thank God that I have capacity to lobby and move things around. So, I believe that I will be able to do a lot in support of good policies that will be able to enhance the development of Nigeria. You are going to contest on the platform of Progressive People’s Alliance (PPA). Given your pledge to the PDP, is that not anti-party? There is no difference between PDP and PPA in Nigeria because PDP is the senior brother of PPA. I never left the PDP. They both have a great alliance and that alliance has always been there. That alliance may be at the national level not the state level. Forget about what the state is

How are you sure that will not happen again? It will not! Our people will burn down the state. We are ready for them, we are not going to take it from anybody. The governor cannot try it. If he tries it, it would be the end of his administration because I have left him for too long and this is the last opportunity I am giving him in his life. I kept quiet because of President Jonathan because I don’t want crisis here for him. The governor is very incompetent, he is unreasonable, he is a liar and he is fraudulent. But you put him there? Because I didn’t know he was going to be fraudulent. He worked with you as your Chief of Staff for eight years. It was expected you know more of him. Yes, he was hiding his true coCONTINUED ON PAGE 41

Politics

Wale Elegbede

minent business mogul and former governor of Abia State, Dr. Orji Uzor Kalu, has called on the Nigerian armed forces, police and other security agencies to operate within the ambit of the law before, during and after the forthcoming elections. Speaking yesterday at an interactive session with newsmen and stakeholders at his Igbere country home, the former governor who is the Progressive People’s Alliance (PPA) senatorial candidate in Abia North, explained that some politicians have been boasting to use security personnel that they will intimidate and molest innocent citizens during elections in Abia State. According to him, “I am in touch with President Goodluck Jonathan

WEDNESDAY, MarCh 18, 2015 NEW TELEGRAPH

Work within ambit of law, Kalu tasks security agencies lOUK support group plans 1 million match for Jonathan and I can tell you on full authority that he has sent a note of warning to security agencies not to be partisan. The president has said it times without number that he is giving all contestants irrespective of political divides a level playing ground. “As an elder statesman and nationalist, we will resist any attempt of intimidation and rigging at the polls. The people’s votes must be protected so that genuine leaders can emerge.” The former governor further said: “The last elections in Abia State

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

was characterized by intimidation and massive rigging, but this time around, youths, artisans, traders and others in Abia have vowed to confront any security personnel that attempts to shortchange their will.

“The 2015 general elections are not only important to the nation but to the world as Nigeria remains the largest African country and a critical country in the League of Nations. The electoral process must be transparent before and after the polls.” While using the occasion to canvass votes for President Jonathan, the former governor stated that the impacts of President Jonathan’s Transformation Agenda are obvious in all sectors. “As a businessman, I can tell you that the privatisation, infrastruc-

L-R: Akwa Ibom State deputy governorship candidate, Mr. Moses Ekpo; wife of the governorship candidate, Mrs. Martha Emmanuel; governorship candidate of the PDP, Mr. Udom Emmanuel and Mr. Nkereuwem Ekanem, at a meeting with Akwa Ibom professionals in Lagos …on Monday.

Buhari’ll win March 28 poll, says Na’Abba Johnchuks Onuanyim Abuja

ormer Speaker, House of Representatives, Alhaji Ghali Na’Abba, yesterday expressed optimism that the All Progressives Congress (APC) presidential candidate, Major General Muhammadu Buhari, will win the March 28 election. Na’Abba, who was received into APC officially by members of the party’s National Working Committee (NWC) in Abuja, stated that his former party, the Peoples Democratic Party (PDP) has misruled the country in the past 16 years. Addressing APC NWC members and other national leaders, Na’Abba said: “I believe that the momentum today is in fa-

vour of the APC to change this country and we must never allow the momentum to go down. It is in that quest, that I feel that having resigned from the PDP, I must join the APC so that I can help grow that momentum. “It is quite remarkable that since I left the PDP, I have been receiving calls and messages of encouragement from across Nigeria. This is to show that APC is a national party and not what they use to regard it as a religious party or a sectional party. “My pledge today is to work with you and the presidential candidate of the party while trying to consolidate on the gains made so far. It is very remarkable that a convention was held and a free and fair election was conducted in which Gen. Muhammadu Buhari emerged as the presidential candidate of the party and I

am a witness to how popular Gen. Muhammadu Buhari is, not just in the north, but all over the country. “I am happy that he [Buhari] is going to be the next president of this country and when he becomes the next president, it is our desire that he continues to be a national leader and not a sectional leader. Nigerians have come a long way and I have continued to say that we cannot continue to rule this country on the basis of divisiveness.” On his exit from the PDP, he said: “I want to thank you for receiving me and my delegation which is largely constituted by my colleagues. I believe that most of you must have read or heard my communication to my former party, the PDP. The total sum of my communication was that I have decided to leave the party

having being a member for 16 years with a brief interregnum of about one year. “When I and other senior members of the party left the party between 2005 and 2007, a lot of things happened that we thought were undemocratic and we had to leave the party. Eventually, some of us returned after the late President, Umaru Yar’Adua made certain promises to effect change in the party which never happened. “In the last 16 years, there has been misrule in this country. Nigerians are being misruled by successive presidents of the PDP. Some of us fought over these tendencies to no success. APC National Chairman, Chief John OdigieOyegun, offered him an automatic membership of the party’s Board of Trustees (BoT).

tural regeneration, Local Content Act in petroleum industry, YouWin and Sure-P projects are key achievements of the Federal Government.” Speaking at the forum, a businessman and community leader from Uzuakoli Local Government Area of Abia State, Chukwuma Dinneya, said: “We know who we want and we shall stand by our decision even at the point of death. Orji Kalu remains the senator we want come March 28. “We are only sounding a note of warning to security agencies that we would not condone what happened in the 2011 elections where the electorate were disenfranchised. Our leader and mentor was also prevented from voting by security agents who blocked his residence with four Armoured Personnel Carriers (APCs). We maintain our collective resolve to prevent violence and rigging by any politician throughout polling,” he said. Meanwhile, the Orji Kalu Support Group said it is planning a One Million Youth March for President Jonathan, stating that youths comprising artisans, teachers, traders and students in Abia State under the auspices of Orji Kalu Support Group have reaffirmed their commitment to the re-election bid of the president.

Addressing journalists on its action plan in Umuahia, the president of the organisation, Mazi Stanley Okoro, noted that the collective decision to support President Jonathan and Dr. Orji Kalu for president and senator, Abia North respectively, is a testament to the goodwill of both personalities. Okoro said: “We have scheduled Monday, March 23 for one million youth march in support of Mr. President. The Transformation Agenda of the Federal Government is feasible in all sectors of the Nigerian economy. Our trains are working, power supply has stabilised, inter-state roads are reconstructed, making life meaningful for the people. Nigerian youths have made up their minds,” he said. Speaking on behalf of the artisans, Onyekachi Dimgba, said: “We are not going back on our decision to mobilise votes for Mr. President because of his love for the younger generation, of which, he is a member of. His projects and programmes are youth friendly such as YouWin, Agricultural Programmes and Sure P. We are solidly behind President Jonathan and victory is sure for him.” The group had earlier commenced a house-tohouse campaign in collaboration with civil society group on the need for violence-free and credible polls.

RMG trains observers for general elections Wale Elegbede

ne of the accredited observers for the forthcoming general elections, Rights Monitoring Group (RMG), will on Thursday commence a one-day training for its workforce to enhance their capacity ahead of the polls. According to a release signed by RMG’s national coordinator, Mr. Olufemi Aduwo, the training is in collaboration with Centre for Convention on Democratic Integrity (RMG/ CCDI) and will be held in Abuja. Aduwo noted that the programme will afford its members the opportunity to learn how to write accurate observation reports, the limitation of observers on the field and more importantly to perform their duties in strict compliance with code of

conduct as agreed by Nation States at International Convention on Election Observation held at the United Nations in New York on October 27,2005 and ECOWAS Code of Conduct for observers. While noting that the future of domestic observers could only be enhanced through capacity building and training, Aduwo stated that for democracy to properly germinate, institutions must be built and sustained. “We appeal to other observer groups for collaboration and INEC and the government should come to their aid through capacity building. The idea of domestic observers depending on donor agencies for financial assistance is quite embarrassing. Credible local foundation and corporate bodies should also assist,” he noted.

Politics

NEW TELEGRAPH WEDNESDAY, MarCh 18, 2015

Why PDP is afraid of card reader, by Tinubu Wale Elegbede

head of the forthcoming general elections, former governor of Lagos State and National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, has said that the ruling Peoples Democratic Party (PDP) is afraid of the Smart Card Readers because the party knows that the verdict of the people will be against them at the polls. Tinubu, in a statement signed by his media adviser, Sunday Dare, noted that despite the rescheduling of the elections, the six weeks window has not changed the electoral dynamic in favour of the PDP, stating that the extra time has only been a temporary stay of execution of the people’s sovereign will against the ruling party.

He said: “The PDP remains in virtually the same position they occupied in early February. They look behind them to find the people no longer there. They are angry because they think the people have deserted them at the 11th hour. The greater truth is that they abandoned the people at the very dawn of this administration. They will now reap the dividends of their indifference. “The claim that the use of the cards will disenfranchise voters is bogus. The world over, voters are required to register to vote and to present at the polling booth on election day a voter registration card. This process is not materially different than what takes place in other nations. “They cry that the cardreading machines are imperfect. No one can guarantee that each and every machine will perfectly

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

work. However, the alternative is fraught with even greater imprecision. Each national election conducted in Nigeria since 1999

has been a feat of ample rigging and malpractice. “That is the way of the old system. It incentivizes gross impropriety. This new way discourages if not prevents it. Unless the card readers are being sabotaged by PDP agents, the possibility of a massive failure of the readers is so scant as to be statistically implausible.” The APC leader explained further that, “The computerised card reader gives us a high probability of finally conducting a

clean and fair election. A return to the old system is a sure return to crimes and wrongs that have made our elections a mockery of the democratic ideal and of the people’s will. “That the PDP cohort wants the old way means they do not want to advance democracy by insuring a decent electoral process. They want to kidnap democracy by orchestrating the electoral result. They are afraid of the verdict of the people because they know they

have ill-served the nation for so many years. “The energy this administration should have invested in governing the people for six years is now being expended in these last few weeks in the frantic attempt to scuttle or side-wind an election that is tantamount to a referendum on the Jonathan administration. They want to save their skin by choking your democracy. Their efforts come as too much, too clumsily, too late,” Tinubu said.

Saraki alleges witch-hunt over N11bn bank loan Onwuka Nzeshi ABUJA

ormer Governor of Kwara State, Dr. Bukola Saraki, yesterday raised a fresh alarm about an alleged plot by some persons in the ruling Peoples Democratic Party (PDP) to witch hunt him by re-opening an N11 billion bank loan investigation involving firms linked to him. Saraki, a former member of the PDP defected alongside 10 other senators, to the All Progressives Congress (APC) last year. Saraki alleged that there were attempts by the ruling party to compel the security agencies and the Economic and Financial Crimes Commission (EFCC) to re-open a case of a bank loan obtained by Joy Petroleum Limited. According to him, the matter which arose from a petition against Intercontinental Bank Plc (now Access Bank Plc) had to do with alleged illegal withdrawal of funds from the accounts of Joy Petroleum Ltd which had been investigated and found to lack merit. Saraki explained that the company obtained a loan of N11 billion but was able to negotiate a payment that saw it paying back only N4.7 billion while the remaining N6 billion was written off. New Telegraph sighted a letter from the Director of Public Prosecution

marked: DPP/ADV:061/12 and dated October 09, 2012 in which the Attorney General of the Federation and Minister of Justice, Mr. Mohammed Adoke advised the Legal Prosecution Section of the Police Force Headquarters to discontinue the case as it lacked substance. The advice from the AGF was sequel to a request from the Police seeking guidance on the matter. According to the DPP letter, Saraki and his associates cannot be held criminally responsible on account of a loan obtained by a company linked to them. Saraki said that in spite of this clearance, there were renewed attempts to embarrass him by re- opening an already settled case.

L-R: National Chairman, All Progressives Congress (APC), Chief John Odigie-Oyegun; former Speaker, House of Representatives, Ghali Na’Abba and National Secretary, Mai Mala Buni, during Na’Abba’s defection from the PDP to APC in Abuja...yesterday. PHOTO: ELIJAH OLALUYI

Beware of Tinubu, PDP warns Buhari Onyekachi Eze ABUJA

he Peoples Democratic Party (PDP) has warned the presidential candidate of the All Progressives Congress (APC), Major General Muhammadu Buhari (retd), to beware of the National Leader of the party, Senator Bola Tinubu. In a statement yesterday by the Director,

Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode, the ruling party accused Tinubu of allegedly betraying people he had worked with. According to him, the APC leader allegedly lured Mallam Nuhu Ribadu in 2011 to become the presidential candidate of the defunct Action Congress of Nigeria (ACN) only for Tinubu to aban-

don him later. “After using Ribadu to gain some badly needed credibility at the federal level, he later dumped him,” Fani-Kayode said. He warned Buhari to watch his back and sleep with one eye wide open if Tinubu was on his side. “This is because, at the end of the day, Tinubu will not only use him, but after using him and draining him of all that he has, he will dump him.

“Now it is very clear that Tinubu is going to betray the APC and their presidential candidate, General Muhammadu Buhari,” he added. Fani-Kayode said Tinubu’s ultimate objective is not for Buhari to be president but for him (Tinubu) to “take over through a surrogate or take over directly. We have said this over and again and we will continue to say it.”

PDP denies sponsoring protest against Jega Onyekachi Eze ABUJA

he Peoples Democratic Party (PDP) has dissociated President Goodluck Jonathan from protests against the Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega. Director, Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode yesterday, described the allegation as childish.

“What we are witnessing from them are the frantic gasps of a failed political party that realises that it is about to face a crushing defeat and setback that will send it out of existence. By the time this is all over, the APC will be dumped and forgotten in the dustbin of Nigerian political history,” Fani-Kayode stated. He added that attempting to link President Jonathan with a protest by the Oodua People’s Congress (OPC) in Lagos was the same pattern of falsehood and scaremongering that

the APC and its Publicity Secretary have made their trademark. “We advise the APC to stop peddling falsehood and scaremongering and to prepare for defeat at the March 28 presidential elections. “Nigerians know very well that this is not the first time that the APC is embarking on spreading lies in the hope of inciting the people against the PDP and President Jonathan. The lies of Lai Mohammed and the APC have never achieved their nefarious objectives and

once again their falsehood shall fail. “Now that Lagosians are at last realising the level of sleeze and insurmountable greed among the APC leaders in the state, Lai Mohammed and his handlers are panicking because they know their chances of cornering the market on the golden goose which they have fleeced for the past 16 years are dimming. This is the single reason why Lai Mohammed and the APC have resorted to their ageold and outdated strategy of firing off a new state-

ment of falsehood every single day in the hope of distracting Lagosians and Nigerians at large from the key issues at stake in this election. “For the avoidance of doubt, many Nigerians are today questioning the wisdom of allowing the APC, a party that has superintended over an unimaginable level of outright theft of public funds and usurpation and conversion of government properties for personal use in Lagos State, anywhere near control of the Federal Government.”

16 Politics

WEDNESDAY, MarCh 18, 2015 NEW TELEGRAPH

Gambari meets Obasanjo, deplores anti-Jega protests Kunle Olayeni Abeokuta

ormer Nigeria’s Permanent Representative at the United Nations, Prof. Ibrahim Gambari, yesterday decried the series of protests by ethnic militias against the chairman of the Independent National Electoral Commission

(INEC), Prof. Attahiru Jega. He said such protests were partisan and should not be condoned in the interest of the nation. Gambari spoke with reporters shortly after leading the Council of the Wise to a closed-door meeting with former President Olusegun Obasanjo at the latter’s Hilltop residence in Abeokuta, Ogun State.

The council chairman is a retired Chief Justice of Nigeria (CJN), Mohammed Uwais. According to Gambari, the protests by some ethnic militia groups in the country and calls for the sacking of INEC chairman were unfortunate and partisan. He noted that those calling for the sack of Jega ought to know that it was an improper thing

to do at this crucial period. “You don’t change a referee in the middle of a game,” the former envoy said. “It is unfortunate. You cannot change a referee in the middle of a game for partisan reason. But INEC has the principal responsibility to conduct free and fair elections for all of us and we should join hands to support the electoral

L-R: Vice Chairman, Lagos State chapter of the Independent Petroleum Marketers Association (IPMAN), Alhaji Ayo Alanomu; Lagos State APC governorship candidate, Mr. Akinwunmi Ambode; Lagos State Chairman, IPMAN, Chief Adebayo Ajayi; Governor Babatunde Fashola and IPMAN Secretary, Prince Kunle Oyenuga, at a meeting in Lagos …yesterday.

body to conduct credible elections that will not undermine our security and development.” The former ambassador also cautioned the First Lady, Dame Patience Jonathan, against uttering statements that are capable of undermining the coming elections. He said: “It is not my duty to advise the First Lady and I don’t know exactly what was said and there has been retraction of what was reported to have been said. But in any case, what we are telling Nigerians both the ones at the top and those at the bottom, we should all be dedicated to peace and peaceful elections. “Elections should be held on time to avoid constitutional crisis, one whose outcome would be acceptable and credible not within Nigeria but also outside Nigeria. It is not a do-or-die.” Gambari said the council delegates visited Obasanjo in its quest for peaceful and credible polls. He said: “Obasanjo has received us, we have visited former President Shehu Shagari; they are important voice to add to the aspiration of Nigerians for peaceful elections.

“And they have lend their support for peaceful and credible elections; elections that are held on time, elections where all avenue to ensure transparency, credibility should be explored and nothing should be excluded. “As part of the mission of the Council of the Wise, established by Savannah Centre for Diplomacy, Democracy and Development, like many Nigerians, we feel concerned about this 2015 general elections. “As the most populous black country in Africa and the one with the largest economy, all of these place on us a greater responsibility to conduct our elections as an example for others. So, free and fair election is important, peace is important and a reason Nigeria should show a good exàmple. “The whole world is watching, including the representatives of the United Nations, the United States and also the International Criminal Court (ICC) because some people, whoever they may be that are fomenting violence and undermining the will of the people will be held accountable.”

God told me APC’ll lose March 28 poll – First Lady Ojougboh: Jega has lPromises 50% women representation compromised polls Biodun Oyeleye and Kunle Olayeni Ilorin, Abeokuta

irst Lady, Dame Patience Jonathan, has declared that God gave her a revelation that the presidential candidate of the All Progressives Congress (APC), Major General Muhammadu Buhari, will lose the March 28 election. She stated that her husband, President Goodluck Jonathan, will emerge winners of the poll. Mrs. Jonathan, who spoke in in Ilorin, Kwara State yesterday at a rally, also described the current APC government in the state as a stolen mandate and promised that the original owners of the mandate, the PDP, will reclaim it after the election. She accused leaders of the APC in the state of allegedly cornering benefits meant to the citizenry under the SURE-P, YOUWIN and other Federal Government empowerment programmes and telling lies to cover their tracks. Her words: “PDP is not shaken, as far as we are

there; there is no need for trouble. You know that Mama Peace, your mother is peace-loving so the children must also be peace-loving. Women are peace makers and any woman that makes trouble is not worth to be called a woman. “Kwara is PDP. They only stole the mandate because the Government House they are occupying today is in the name of PDP. We shall take it over. Everyday they change from one name to another and very soon they will change to Ebola and then death will come. My God that I serve has told me that they will fail. So don’t be deceived, don’t listen to their lies.” Apparently referring to Monday’s attack on the convoy of Hajia Buhari, wife of the APC presidential candidate in Ilorin, the First Lady took a swipe at leaders of the APC alleging that they were deliberately planning the campaign itinerary of Mrs Buhari to collide with her own itinerary, all in a bid to create an atmosphere for violence between the two camps. Meanwhile, the First

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

Lady has said that the PDP would continue to encourage women’s participation in politics to enhance national development. She said in order for Nigerian women to enjoy 35 per cent affirmative action and even attain 50 per cent representation in government, they must support the re-election bid of her husband, President Jonathan. She gave the assurance during a meeting of Women in Politics in Ogun State held at the PDP state secretariat in Abeokuta. The First Lady, who was represented by wife of the Vice President, Hajia Aminat Namadi Sambo, called on women to massively cast their votes for Jonathan’ reelection on March 28. She also urged women in the state to exercise

their civic responsibility wisely in Ogun State by the APC-led government of Senator Ibikunle Amosun. “If there is a place that we need change, it is Ogun State but we need transformation in Abuja,” the First Lady told a mammoth crowd of PDP supporters. She added: “My dear women, I urge you to come out en masse on March 28 and vote for Mr. President. We are all aware of the good works they have started and I think it is advisable that we allow them to continue what they have started. “Women are so excited and they are so appreciative. This administration has been a gender-friendly administration and we hope the president will continue to support women to attain not only the 35 per cent affirmative action that we have been calling for but also to take it up to 50 percent.” Speaking earlier, former governor of Ogun State, Otunba Gbenga Daniel said the PDP remained the party to beat during the general elections, adding that the party would regain control of governance in Ogun State.

Dominic Adewole ASABA

he South-South Zonal Vice Chairman of the Peoples Democratic Party (PDP), Dr. Cairo Ojougboh has accused the chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, of compromising the conduct of the forthcoming general elections. Ojougboh made the allegation while addressing PDP stakeholders and party faithful at a town hall meeting in Asaba, Delta State yesterday. He specifically alleged that the INEC Chairman had appointed his special assistant, one Professor Okuna to singlehandedly nominate and compile names of collation officers for the presidential elections in the 36 states and Abuja without recourse to INEC state commissioners. He alleged that Okuna is a card carrying member of the All Progressives Congress (APC). The PDP stalwart described such develop-

ment as worrisome. He suggested that the different political parties, in deference to the various Resident Electoral Commissioners (REC), should be giving the free hand to appoint their Collation Officers for the elections. On the chances of the PDP at the polls, Ojougboh expressed optimism that the ruling party will win. He charged all eligible voters in Delta State to collect their Permanent Voter’s Cards (PVCs) to enable them vote for President Goodluck Jonathan and all PDP candidates in the election. He explained that President Jonathan had done a lot for Nigerians particularly in the execution of people-oriented projects as espoused in the Transformation Agenda of his administration, adding that his re-election would translate to a better deal for all Nigerians. The state PDP governorship candidate, Senator Ifeanyi Okowa, said Delta State was prepared to deliver PDP at the polls.

Politics 17

NEW TELEGRAPH WEDNESDAY, MarCh 18, 2015

The long-awaited PIB report After more than three years of its assignment, the House of Representatives’ ad hoc committee on the Petroleum Industry Bill (PIB) submitted its report last Thursday. PHILIP NYAM presents the highlights

ollowing the controversy that trailed deliberation on the Petroleum industry Bill (PIB), the House of Representatives had in a resolution on November 15, 2012 constituted an ad hoc committee on the bill. The ad hoc committee headed by the Chief Whip, Hon. Ishaku Mohammed Bawa, was mandated to look into the bill and make recommendations on how or what form to pass the bill to an act that will provide for legal, fiscal and regulatory framework for the nation’s oil and gas industry. The present bill was initiated in July 2012 after the previous attempt initiated in December 2008 was unsuccessful. This time, the 23-member ad hoc committee held public hearings in the six geo-political zones including the Federal Capital Territory (FCT), which afforded stakeholders and the general public the opportunity to make inputs to the bill. However, after the public hearings, the report was not forthcoming raising concerns as to the commitment of the House to the passage of the bill. Speaker Aminu Tambuwal and his leadership kept assuring that the report will be presented and the bill passed. The day finally came on Thursday, March 12, 2015 when the chairman of the committee, Bawa, laid the report on the floor of the House. The committee scrutinised the whole 363 sections and annexures of the original bill and made some amendments and recommendations. The original bill The original bill, which was submitted by the Executive, covered salient areas such as the power of the Minister of Petroleum, establishment of the Petroleum Equalisation Fund, establishment of Petroleum Technical Bureau, establishment of Downstream Petroleum Regulatory Agency and the incorporation of a National Gas Company. Others are establishment of a Petroleum Directorate, establishment of the National Asset Management Company, administration of Petroleum Acreage/Licence and Leases, Environmental Quality Management in order to alleviate the sufferings of oil-producing communities and imposition of a new tax regime such as Nigeria Carbon Tax. The objectives of the bill is to

Tambuwal

create a conducive business environment for petroleum operations; to enhance exploration and exploitation of petroleum resources in Nigeria for the benefit of the Nigerian people; optimise domestic gas supplies, particularly for power generation and industrial development. The bill is to also help establish a progressive fiscal framework that encourages further investment in the petroleum industry while optimising revenues accruing to the government; establish commercially oriented and profit driven oil and gas entities as well as deregulate and liberalise the downstream petroleum sector. The intendment of the bill is also to create efficient and effective regulatory agencies, promote transparency and openness in the administration of petroleum resources, promote the development of the Nigerian content in the petroleum industry. It is expected that the bill when passed into law will protect health, safety and the environment in the course of petroleum operations and attain other objectives to promote a viable and sustainable petroleum industry in Nigeria. The report Presidential powers The ad hoc committee made broadly 11 recommendations. It recommended the “complete removal” of section 191 of the bill that gives the president discretional powers to grant petroleum licenses and lease and instead proposed biddings for the award of licences. According to the report, “the rationale behind this amendment is simply to avoid the practice whereby power for the award of oil blocs was discretionary.” In addition, the committee in sections 225-229 retained three conventional licensing systems namely; Petroleum Exploration Licence (PEL), Petroleum Prospecting Licence (PPL) and Petroleum Mining Leases (PML) but with different durations for the licences re-

Alison-Madueke

gimes. The different duration for the licensing regimes include three years for PEL, five years for PPL for onshore and shallow waters, consisting of initial period of three years, and renewal period of two years, with the possibility of further extension and five years initial period for deep waters and Frontier Acreages with further renewal of three years with the possibility of further extension.

The rationale behind the removal of ministerial powers is to ensure smooth running of the agencies without undue influence

The minister On the powers of the Minister of Petroleum, the committee retained the conventional powers of the minister under section 6 of the bill but recommended the removal of the powers of the minister either to serve as chairman or to recommend to the president the appointment of chairmen of boards of such agencies. “The rationale behind the removal of ministerial powers is to ensure smooth running of the agencies without undue influence and guarantee independence of the same, which is in line with current global practice.” Agencies affected by the recommendation include the National Oil Company (NOC), Upstream Petroleum Inspectorate Agency, Downstream Petroleum Regulatory Agency, Asset Management Corporation and any other corporate entity established by the act. Shares The committee also amended section 174 of the original bill recommending that 30 per cent of the Nigerian National Petroleum Corporation (NNPC) shares be sold through public offerings at the Nigerian Stock Exchange (NSE) as well as section 185 proposing that 49 per cent of Nigerian Gas Company shares be sold through public offerings at the Stock Exchange. Agencies The report recommended creation of Frontier Oil Services Agency in sections 193 to 217 to step up exploration activities in various Frontier Acreages of Nigeria’s oil industry which comprises, among others the Anambra, Sokoto, Benin, Chad and Benue Basins. The Frontier Oil Service is to be funded

through taxes from oil producing operations as well as national budgetary allocations in a dual funding strategy aimed at strengthening the agency’s and its operations so as to broaden government’s revenue base. This is captured in section 209. Petroleum Host Community Fund Under section 116, the Petroleum Host Community Fund is created to benefit any community where oil facilities and installations such as pipelines, depots and refineries are located. The report said: “In the bill, a new section 118 covers both upstream and downstream sectors. This innovation is intended to allay the raging distrust between oil producing and non-producing communities in the country.” Under section 203, the committee retained environmental remediation funds, which obligates petroleum investors to pay adequate compensation for the remediation of environmental damage. “This policy will at least minimise the environmental damages in the Niger Delta/oil producing communities. Moreover, gas flaring punishment and penalty was retained under section 323 in order to minimise environmental hazard in oil producing communities.” It has also retained with some amendments, provisions in the bill which uphold the sanctity of existing petroleum contracts. “This is to allay the fears of the investors both foreign and local who feel threatened that a new petroleum law will terminate existing contracts for oil exploration and production. Thus any licence, lease, permit, or other rights in respect of petroleum industry in Nigeria shall continue to be valid for the remainder of its duration as if it issued under the Act.” Also, in the report, oil production measurement is to be made at the flow station and not at the point of export. It is expected that the House will commence debate and consideration of the report perhaps after the general elections. With this development, the PIB may after all be passed before the 7th Assembly winds up on June 5.

MORE STORIES ON pageS 40-43

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Opinion All in the name of God Jide Ayobolu

hese are indeed weird times, where strange and befuddling things are happening with torrential rapidity and startling manifestations. Things that one would have thought are only possible in the world of one’s wild imagination are happening right here before our own very eyes and the characters involved are carrying on in an “I-don’t-care-manner”. Some so-called men of God-the clergy who should otherwise speak truth to power, have teamed up with those that control the state apparatuses against the people who they should provide physical and spiritual guidance for. The obsessive love and lust for money have blinded their sense of reasoning and rational thinking to their calling. But the greater question is, where they really called by God or do they call themselves to work in the “vineyard of the Lord”? The situation is so annoying to the extent that, in the eyes of these clergies the state and the present occupiers of political office at the federal level can do no wrong; to them, those in power at the centre in the country, are the representatives of God on earth and therefore, woe betides anyone that opposes them in any way, this is the influence of money these men of God that have lost their conscience and sold their birth right for a mess of porridge. These scavengers are no longer catering for the spiritual needs of men, they are no longer worried about lost souls, they are not bothered about spreading the good news, they are unconcerned about the propagation of the word of God, evangelism and mission outreaches to various parts of the globe

and their local communities. Rather, they are preoccupied with the expansion and consolidation of their gospel and church businesses and empires, it is now “In Jesus name PLC”. They behave in very unchristlike manner, wear robes like Mafiosi and not priests, flaunting their ill-acquired wealth with undignified insensitivity and displaying excessive materialism, they have largely become inaccessible to their members, while building institutions that members cannot afford, talking down on people and behaving like supermen made out of this world. While Christ was on earth, he never exhibited any of these evil tendencies and traits. This category of clergy are forever looking at their bank accounts, the number of houses, lands, private jets, universities, titles and other mundane things they have acquired no matter how illegitimate. They have therefore intrinsically become part and parcel of the ruling elite benefiting from the rent-seeking and patronage as well as leakages of the warped system operating in the country. Ordinarily, these Pentecostal entrepreneurs and their orthodox cohorts, should receive sacred word from God to feed the spiritual needs of the people; give them assurances of a better tomorrow using the word and revelation from God as the template for so doing. However, they have become emergency church businessmen and their involvement in systematic primitive accumulations in the country in recent times, is not only alarming but certainly appalling. We will not forget in a hurry the connection of the President of the Christian Association of Nigeria (CAN) in the ill-fated South African arms deal; the N7 billion purportedly col-

lected by the leadership of CAN to deliver Christian votes for the President in the forthcoming election is still fresh in our memories. It is still this same set of people that escorted the president on “holy” pilgrimage to Jerusalem and news is rife that some of these questionable characters have been given oil blocs, while others were given Rolls Royce exotic cars 2015 edition and other epicurean gifts. It is a pity that CAN has become the religious arm of the ruling PDP. Undoubtedly, they have sunk to the abyss of moral and spiritual degeneracy and rendered sightless by filthy lucre as well as pecuniary gains. They are besotted by excessive materialism and therefore impervious to reason and good judgement. They have lost all sense of dignity, morality and self-worth; they are no more than a piece of bread. No wonder, an eccentric musician recently referred to them as fraudsters (gangsters) and they falsely claim that, all they do, they do in the name of God. But this is a cheap lie, nobody can serve God and mammon at the same time. For them, “the cross is their enemy because their god is their belly, their glory is in their shame because they mind earthly things”. Their “Old man” is still alive and kicking. It is in this regard that the Bible says that at the end times, perilous times, shall come, it says the love of God will wax cold, that there will be many fake pastors and prophets and they will become lovers of themselves. This is exactly what is happening right now in our dear country, instead of these Pentecostal and orthodox contractors to be on the mountain, waiting on the Lord; they are shamelessly hobnobbing with men in power, men that can help them increase their illicit cum immoral material acquisitions, swell their on and off-shore bank accounts.

Nigeria’s electoral blindfold Chris Odediran

igerians troop to the polls (if allowed) before the end of this month, with a blindfold, knowing very little about what any of the politicians can do to ease the difficulties that were created by the same politicians. Politicians give very little information about their political programmes in this part of the world, because they have a gullible and undemanding citizenry. Since the 2015 elections campaign started, curiously just three months before the election, the two main presidential contenders, the incumbent President Goodluck “What a Name” Jonathan and former military dictator, General Mohammadu Buhari, have been locked in a war of words, leaving Nigerians to take sides on issues that have little substance on governance. The presidential candidates have talked about everything but the issues that directly affect the lives of the ordinary people who will vote. They offer no insight whatsoever about high-level policy plans, political ideology or priorities. Knowing the people they deal with, they have largely limited their campaigns to superficial subjects, generalized promises, assumptions and non-specific agenda. In short, Nigerians get to know everything about their likely president, except their political programmes. These tactics have been reinforced by an army of paid social network warriors who are online 24/7 to comment positively about their candidates and

negatively about their foes. Nigerian news websites have become regular Nigerian markets, with commonplace social skills found in Oshodi or Idumota- not a place for decent people to engage in political discourse. We recently found that President Jonathan’s chief of social media was relieved of his position because he was not aggressive enough. With Nigerians ever so reliant on the Internet for information, the fight for turf on the social media is so understandable, albeit it is depicting Nigerians as an uncivilized people to the world wide web. So far, the most important political discussion in Nigeria’s presidential politics is the validity of the high school certificate of General Buhari, obtained in 1961. It does not matter that the certificate is, in fact, the minimum requirement and the candidate has since obtained higher educational qualifications through the military. What matters is that the president’s political party, the People’s Democratic Party (PDP), chose to make that the political campaign programme, knowing fully well that Nigerians always fall for scandals, instead of issues. It worked. That is exactly what Nigerians have been talking about since the start of the political season. No one is asking: how will the problem of unemployment be tackled - Nigeria has 60 per cent unemployment rate? How will the bad roads be fixed? When will corruption be dealt with? Why can’t Nigerians have electricity to run their computers, smartphones and television sets like other people in other parts of the world? Lagos, the commercial capital, is just 737 kilometers from Abuja, the admin-

istrative capital. However, it takes over 10 hours, on a good day, to make this trip by road. There is no direct road linkage between Lagos and Abuja, and the trip often takes over 12 hours because of bad roads. These are the two most important cities in Nigeria, for which travel should not normally take more than five hours on a turnpike or parkway. If the most important cities have received no attention, I leave it to the reader’s imagination what happens to the rest of Nigerian roads, when they exist. Nigerians have placed all their bet on biometric technology for this election, thinking that as long as the election results are reflective of their wishes, all will be well. While the PCVs, as electronic voters’ cards are called, reduce fraud at the polls, the bigger fraud is the failure of the political candidates to reveal their political plans; and for the people to fail to ask. At the end of the day, Nigerians are allowing themselves to be raped again. In this election, there has not been, and there will not be, a presidential debate. An attempt to organize one has failed. General Buhari was suspicious of the motives of the organizers and had opted out. President Jonathan and the PDP have no moral justification to make that a political issue, since, in the 2011 election, contested by the same guys, Jonathan did not participate in the debate. At that time, Jonathan preferred to be interviewed by an hip-hop musician. The gain is to Jonathan and Buhari, who do not have to explain their programmes; and the loss is to the undemanding and sheepish Nigerians, who allow it. With no debate planned, and no engaging, issue-based discourse in the hori-

zon, Nigerians are left with the option of voting on their gut feeling, intuition or spiritual direction. There is no Nigerian who can honestly claim he or she intimately know what either of the presidential candidates will offer them in terms of solutions to endemic problems. Emotional as always, Nigerians believe, depending on their choice, either of these candidates will offer some hope and reality; but none actually has a factual information about what will happen after the election, if it holds. They engage in banters and brickbats, but beyond the talk, they are clueless about what to expect. Evidently, President Jonathan finds himself fighting for electoral value in the West, a region that gave him the presidency in 2011. He left the region without love until now, leaving him to lick the boots of the very same people he has ignored for four years. As for General Buhari, the perennial presidential candidate over the last four election cycles, it remains to be seen if he is truly a democrat. In his background is a history of absolute dictatorship, nepotism, radical Islamism and flagrant disregard for the rule of law. Has he changed? Maybe, but there is yet no evidence. As Nigerians walk blindly to this election, hoping that, either way, the nation will get it right this time, the fact that the election is taking place in an environment where the major political candidates offer little or no real revelation about their programs and manifestos, shows that little has changed. • Odediran, a journalist lives in U.S.

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

EDITORIAL

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

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

A media partner of

Sanctity of Truth

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

Nigeria’s most authoritative newspaper in politics and business

Enough of this bloodletting

hen the late founding editor-in-chief of the original Newswatch newsmagazine, Mr Dele Giwa described Nigerians as unshockable and ready to endure anything than rock the boat of routine, as it were, the country had not yet transmogrified into a killing field that it has since been reduced to by rampaging Fulani herdsmen who have, most unchallengeably, sown the seeds of unimaginable horror across the country. Against the combined bloodletting perpetrated against innocent citizens and hapless individuals by Boko Haram Islamic fundamentalists and roaming bands of murderous nomadic herdsmen since 2009, it is perfectly legitimate that the flamboyant journalist might have modified this observation to read that even within the context of supposed unshockability, recurring acts of brigandage by nomadic herdsmen qualify to shock even the most unshockable. Which is why latest reports that over 80 people were killed and over 500 houses razed in Egba village in Agatu Local Government Area of Benue State by suspected Fulani herdsmen, who allegedly invaded the community over the weekend, are most disturbing. The reports are disturbing

not because the obviously wellorganised invaders sorrounded the community around 5 a.m. and proceeded to unleash systematic terror but because throughout the duration of the assault, relevant security agencies who were alerted of the attack, failed woefully to respond to distress call. According to witnesses, most of the corpses of those killed in the attack were retrieved from nearby bushes into which victims had run, allegedly in search of refuge which turned out to be their undoing because in their desperation and panic, victims actually ran into an elaborate ambush mounted by the invaders. ‘We have made several presentations and appeals to the Federal Government to establish a military post in the towns bordering our area to avert these incessant attacks but to no avail. My people have been continually attacked and killed like animals and the Federal Government has not shown any concerns. This is really painful’, lamented Mr John Ngede, a community leader. He blamed the attack on the failure of the Federal Government to respond to distress calls made by the people to the relevant authorities. Continuing, he called for the deployment of troops in the area. Confirming the incident, the Benue State Commissioner of Police, Mr Hyacynth Dagala how-

ever disagreed with the casualty figure, saying that only 30, not 80 persons, were killed by the invaders who have conducted raid upon raids of several unsuspecting communities and caused so much mayhem unchallenged in so many parts of the country. Defending his men, Dagala said that as soon as they got wind of the attack, he swiftly deployed dozens of his men to the scene who combed the area to forestall further attacks as well as protect the lives and property of the people. The scandal in the latest attack is the fact that as in recent attacks in Okpokpolo and Ikpele areas of the state where over 36 people were killed, the latest incident is a boil over of long-running grievances between farmers and alleged Fulani herdsmen who recognize no difference between a farmland and fallow bush. Till date, over 6,000 Nigerian citizens from the Okpokpolo and Ikpele communities of Benue State have joined thousands of their compatriots across the country as refugees in their own country, no thanks to the unmolested criminality of some nomadic herdsmen who appear goaded on and emboldened by the frustrating failure of the Federal Government to call them to order. Disagreements between herdsmen and host communities always centred on land to graze

their livestock, following their historical refusal to differentiate between farmlands and ordinary bush. Recurring bloody clashes between nomadic Fulani herdsmen and host farming communities represent one of the enduring contradictions of the geographical contraption called Nigeria. One of the indices with which countries like Argentina and Brazil, for instance, jettisoned the uncomplimentary prefix of under-developed nation was the resolute political will to confine the anachronism of nomadic pastoralism to the past to which it rightly belongs. Summoning a similar political will to eradicate the primitive practice of pastoral nomadism was impossible in the country because for decades, herdsmen banked on nepotism and the domination of the military by their kinsmen which herdsmen erroneously thought could assist in perpetrating this anachronistic practice. Nomadic pastoralism is an anachronistic practice that has been phased out in the civilized world where animal farmers do so in well-designated ranches which eliminate the grave national security risks associated with unchecked activities by herdsmen which facilitate crossborder criminalities, including insurgency.

DAILY TELEGRAPH PUBLISHING COMPANY LIMITED Managing Director/Editor-in-Chief

Eric Osagie

Editor n Yemi Ajayi

Managing Editor n Suleiman Uba Gaya

Editor, Saturday n Laurence Ani

Editor, Sunday n Emeka Madunagu

Deputy Editor n Emeka Obasi

Deputy Editor n Ayodele Ojo

Bureau Chief, Brussels n Leo Cendrowicz

Bureau Chief, Washington DC n Marshall Comins

Editorial Coordinator, Europe n Sam Amsterdam

Ag. Bureau Chief, Abuja n Onwuka Nzeshi

News Editor n Geoffrey Ekenna

Business Development Manager n Taiwo Ahmed

Sales/Circulation Manager n Oyebanji Abiodun

Head, Graphics n Timothy Akinleye

Head, Admin. n Robinson Ezeh

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Arts

Book Review

Why Christians should be involved in politics, governance Title: Author: Publishers: Number of page: Year of publication:

The Basics of Christian Politics Tamaranebi M. Richard Kraft Books Limited, Ibadan 82 2012

Reviewer:

Nwagbo Obi

he misinterpretation given to such words like politics, politician, democracy, leadership, government, governance, democratic leadership and political administration to let them appear questionable have been corrected in “The Basics of Christian Politics” through Christological interpretations. The 82-page book by Richard Tamaranebi accomplished this through detailed definitions and systematic clarifications of these concepts with a God-centered approach. According to him, “Politics is God’s business. He is the author of democratic leadership. God is a democratic leader right from the beginning of creation. God the Creator is generous and interested in the affairs of men and their governments. He institutes all governments and supports righteous rulers. He also punishes the wicked rulers with His arm of power.” In Chapter One, the author explains what politics is all about, clarifies the concept of God as democrat, author of politics and politics as a ministry of God, how God enthrones and ordains governments in the politics of various nations. This chapter gives various meanings of politics from scholars and lexicons but opines, according to the scriptures in Hosea 4:6, that “my people die for lack of knowledge” and it is this lack of knowledge that

TONY OKUYEME tony.okuyeme@newtelegraphonline.com

drives Christians into feeling that politics is for unbelievers. Calling on churches to allow Christians to embrace politics, the author demonstrates that the new covenant Church is divided into eight functional departments (offices) in which God has shared His children into. These are the Department of Apostles, Department of Prophets, Department of Teachers, Department of Miracles, Department of Healing, Department of Helps, Department of Administrations/Governments and Department of Diverse tongues. In this chapter, the author observed that: “over the decades, the Church had been working with and celebrating more on the Departments of Apostles, Prophets, Teachers, Miracles, Healings and Tongues. In recent years, the Department of Helps which has to do with care and welfare of people are gaining a considerable attention, but the Department of Administrations which is totally about leadership and management of human and other material resources has been absolutely abandoned.” Several verses from the Bible are cited to show what God expects from governments, these include Proverbs 29:2, Proverbs 29:18, 1 Timothy 2:1-4, Romans 13:1-4 etc. Chapter two is on the need for Christians to participate in politics with emphasis on moral commitment to politics. This is because from the Catholics to the Reformers, Puritans, Methodist evangelists, Victorian evangelical social campaigners and Pentecostals, many believers throughout the centuries solidly stood for justice and freedom. They have opposed tyranny and oppression. The basis of modern democracy comes from the biblical concept that we are all made in the image of God. Our Christian ancestors laboured for a democratic system and the rights that we have come to enjoy; we need to preserve the inheritance we have received from them. Chapter three

highlights the biblical qualifications for political leadership. They include religious qualifications, among which are fear god, trust the lord, submission to our lord Jesus Christ; then moral and ethical qualifications which involve truth, wisdom, being impartial, being a servant, being righteous and just, keeping god’s law, hatred to dishonest gain and bribes, hatred to covetousness, must have integrity, being faithful, humble and teachable, patient and having self-control etc. The biblical evidences of all these requirements were also mentioned in this chapter. In chapter four, “Christian politics in the 21st century – time for creative thinking and engagement”, the author opines that Christian politics must always be principled to enable Christians nurture a Christian political consciousness through which political bond across states and national borders could be realized. Then in chapter five, the author charged men of faith to be involved in politics, so that

such men like Moses can free the people from the hand of a tyrannical government. To underscore the importance of men of faith being in politics, the author in this chapter sampled the opinions of men of God, including Pastor Enoch A. Adeboye, Apostle Chris Fearnot, Rev. Hananiah Zoe, Rev. Godday Akpoloma, Pastor Attah Williams, Bishop David Oyedepo, Apostle Dave Richard and Pastor Cephas B. Ezekiel. They are all in support of the view. Chapter six recommends the way forward by asking what African Christians will do together to gain domineering influence in national and international politics? In answer to this question, the author posits that it is high time Christians stood on their feet and be involved in political leadership in their various localities and nations. This

means that more Christians should be involved in politics to impact of good governance, those who work in the political offices should organize conferences nationally or internationally on politics. The author adopted the Modern Language Association (MLA) style of documentation in the research; however, the list of Works Cited should be checked. The abbreviations in some of the names are not permitted in MLA. The concept of Church premises and ballot box on the book cover is appropriate to the book’s central theme. Indeed, the book has succeeded in sensitizing African Christians on the need to actively participate in politics. It is worth acquiring by established and aspiring Christian politician. • Nwagbo Pat Obi is of National Institute for Cultural Orientation (NICO).

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

MY CITY, MY WORLD

LIFE IN THE CITY

I simply love Lagos, says Bambe

A place where Fela still lives

A slum in need of help

A bad section of Fadaina Street in Badia

Elijah Samuel

adia, a sprawling community in Ijora Town is situated in Apapa-Iganmu Local Council Developmental Area. It is an old settlement, whose evolution in the heart of the Centre of Excellence ordinarily should confer on it an advantage for accelerated development; its location anticipates to be a blessing which should fasten its pace on the path of infrastructur-

OLUWATOSIN OMONIYI CO-ORDINATOR

tosin.omoniyi@newtelegraphonline.com

PHOTOS: ELIJAH SAMUEL

al development and thus gets its slot in the league of slum communities eliminated. But right from Fadaina Street, the narrow path which offers access into the belly of Badia community from Ijora-Seven-up axis, the decrepit entrance almost promptly gives an insight into the scenario ahead. Marching through the access road that connects IjoraSeven-Up to Sari-Iganmu road continues, the thought of a community’s emergence from a chaotic structural basis persistently pounds the consciousness. True, on both sides of the access route – consisting of Fadaina, Obale and Oke-Oja Streets - an apparently abandoned stretch of road construction, different phases of impunity greet the eyes. Pedestrians and motorists compete for space on Fadaina Street, which is the first phase of the access route. Here, traders have effectively taken over as wares are displayed on almost a quarter of that narrow path, thus making free movement al-

The decrepit entrance gives an insight into the scenario ahead

The entry point at Ijora-Olopa

most strenuous. A few meters away, further commuting on that access route is thwarted as stagnant water has taken over a section of this connecting route between Fadaina Street and Obale Street. More worrisome is the clutter of mushroom schools, which dot that length of road, in which pupils are clustered for learning. However, from the Oke-Oja bridge which serves as a linking facility to the sections that

exist on both sides of the major traversing canal of IjoraBadia, a breath of relief is sighed as the area wears old tar which makes commuting into the end connecting SariIganmu Road very smooth. On this other side of the connecting bridge, a degree of relative orderliness and modernity reign. From here, most of the adjoining streets on either side are tarred. CONTINUED ON PAGE 22

Life | In The City

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Still on the main linking road: Obale Street

A slum in need of help

CONTINUED FROM PAG E 21

Akeem Ishola, a 45 year old furniture maker, who lives on Alhaji Onigemo Street, which runs on the border of the canal around Oke-Oja, has lived in Badia for over 15 years. He bemoaned the slow pace of development in the area, which has sprouted from the assembly of diverse ethnic groups across the country. “It’s unfortunate that Badia still remains the way it is. It is not a new community that is just emerging.

Probably because of the way settlements emerge without adequate planning given to its gradual development, everyone had made an input in the way they could have afforded,” Ishola said. On prompting of the likelihood of danger as a result of taking residence in an environment that apart from being messy, is located on the brink of a canal, Ishola responded: “We are only taking risk which we know but the affordability of a more decent accommodation elsewhere is

Faces of impunity: Trading activities on some of the roads in Badia

a major consideration for our staying or relocation. For now, I am only bidding for time when I can afford the cost of relocation. It’s usually worse and more risky during the rainy season as the whole of this place would be submerged in the flood.” Another resident of the area that is supposedly unfit for human habitation, is a middle-aged man, who claimed to be a landlord of a dilapidated building on the other side of the Oke-Oja Canal. For him, he had resigned to fate as he is not

contemplating relocation because of two main reasons: his economic condition and the responsibility to maintain his heritage. “Where do I have to go from here?” he queried, adding that “since I lost my job as a driver with a manufacturing company about five years ago, I had tried to see if I could do something else but it’s really not easy to get by. This building was built by my late father, and being the first born of the family, the responsibility rests on me to keep maintaining this heritage. There is nowhere to go now; even if the government comes and says they want to take over this place, there must be an adequate provision for an alternative accommodation and compensation for what they are taking from us.” As New Telegraph traversed the nooks and crannies of Badia, it was understood that the residents, most of who are traders are apparently self-contained perhaps because of the assurance of little successes which their efforts in different trade lines guarantee. A few traders that were approached for chats either displayed despair or indifference or even ignorance of the developmental backwardness of their environment. “My brother, let me make a reference to a statement in George Orwell’s Animal Farm. The statement CONTINUED ON PAGE 23

Life | In The City

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

CONTINUED FROM PAG E 22

says ‘all animals are equal, but some are more equal than others’. I’ve only given this analogy to buttress the lopsided allocation of resources by the state in the effort to develop the state. That is what you find around the state that some places are given preferences to the neglect and detriment of others. We all can see the way some places on the Island and the Mainland of the state are enjoying concentrated attention from the state government,” Tony Mba, a resident who also is a business centre proprietor in Badia , told New Telegraph. Offering an antidote to the seeming negligence of Lagos slums and the lopsided developmental endeavours in the state, Mba added that “it behoves the state government to realise the need for spread of the infrastructural development across different divisions in the state. They should ensure even distribution of resources among the constituents that make up the state. If I may suggest, the hinterland parts of the state deserve a concentrated attention in the next political tenure. This will go a long way to diffuse the density in the metropolis.” With an air of gaiety mixed with indifference, Ibrahim Akorede, a motorcycle mechanic dismissed the seeming non-intervention of the state government in their deplorable environment. “See, if the government likes, let them come and do what they are supposed to do, what’s my own? We are concerned with our vocation; let me just have strength to continue to do my work and be able to feed my family. Whatever they like, they (government) can do.” Some weeks ago, the Lagos State Commissioner for the Environment, Tunji Bello, ‎had assured the people that the state government would soon embark on the rebuilding of the Ijora-Badia slum settlements to improve the standard of living of the teeming residents. Residents in the area had complained about the deplorable state of their roads and streets, accusing the state government of excluding them in the urban renewal and slum upgrading projects. While accusing the state government of neglecting them shortly after the 2011 elections, the residents also lamented the frequent mayhem perpetrated by the rival hoodlums groups. They called on the state government to beef up the security in the area. But speaking on the government’s plan to rebuild the area, shortly after monitoring the February edition of the monthly sanitation exercise, Bello assured that the government has captured the densely populated area in its urban renewal plan. According to him, “the situation of the area we visited is not new; it has been existing for years. The government had done a lot in the last few years especially in terms of road and drainage constructions. “We need to understand that the community we visited to-

A community seeking govt’s attention

An International School in the midst of refuse at Oke-Oja

day in Apapa-Iganmu LCDA is a slum. The community is below the sea level and it is not conducive for living. “It started as a settlement since the creation of Apapa ports. People migrate there and erect structures on the drainage. And I know what the present government has done in the last few years through interventions funds from the World Bank and others.” He explained that while constructing the road, the drainages were constructed but that it collapsed in few months. He said that was why the Lagos State Government commenced the rebuilding exercise of the community. And it started with the housing project in Ilu-Eri. The entire community, he said, would need to be rebuilt. He added that the state government was not happy seeing people living in that community. He said that many infrastructural facilities in the area have collapsed due to segmentation and others; as such, the government will have to embark on soil test to know the strength of soil. “The Obale Road would be resurfaced to give the residents by-pass when the construction of Gasikiya road starts. After the completion of Gasikiya road, the contractor will construct the road. So, we cannot construct Obanle road without completing the constructing of Gasikiya road,” he said. Now, as it is not entirely inconceivable that all the consisting parts of the Centre of Excellence can be given equal attention in order that each one can manifest its potentials

Make shift bathroom and toilet on the blocked canal at Alhaji Onigemo Street

All animals are equal, but some are more equal than others

The entry point into Alhaji Onigemo Street

in the overall emergence of an egalitarian society that is craved by all and sundry, conscientious effort should be made by the government to create a platform on which the dreams and

aspirations of the citizenry can be actualised, and not attenuated by the measure of sex, class, choice of residency, religious or political affiliations, academic or material acquisition.

Life | Mega City

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

igerians, with joy unspeakable and gratitude immeasurable, heralded the takeoff of the Global System for Mobile Telecommunication in the country in the year 2000. Before then, little was known of this much talked about system of communication here. Only government offices in few urban cities could boast of telephone in their offices. To the few wealthy and influential families that had telephone those days, it makes them feel so important especially as people beggarly come around to make or receive a scheduled call from a relation who may have promised to call at a certain time. They wait for their calls like a groom waiting for the arrival of his new bride. The other means of communication apart from telephone and the not too popular telegramming were writing and posting letters. Today, the evolution in telecommunication has brought internet accessibility into our communication life. Through this, we now send our written messages within a twinkle of an eye and as we very often today talk of the social media which is made possible through internet via optic fibre connections. In a place like Lagos that the environment is already choked and the roads narrow; quite often, men are noticed burrowing the roads, walkways, flower beds, breaking of water pipes, gas pipelines and very worrying, creating holes that often pose as risk to people’s houses and business outlets, in the name of laying fibre optics cable that boosts the internet efficiency and accessibility. Some of the network providers include Etisalat, MTN, GLO, Airtel, Visafone, e.t.c. Accidents have occurred in many places in Lagos as a result of some uncovered burrows made for internet cables. People’s businesses have been temporarily stopped or eternally grounded, in some cases for weeks or months because of an ongoing cables laying project. As the worry of Lagosians over this issue lingers, Mrs. Grace Afolabi, a road side trader at the Iyana Ipaja roundabout area of Lagos was spotted by the correspondent trying to cover heaps of red sand dug out from the hole made by a telecommunication company with her spade. According to her, it was over one week they were necessitated to stop their trading activities around the place because of the ongoing cable laying in the area. Since the job has lingered for too long and the ground opened over the time remained uncovered, she deemed it appropriate herself to see how she could cover some portions of the burrowed earth. “What will I do now? I must work or sell something. This is the only source I have to take care of my family. Since one week that they came and dug this place open, I stopped coming to market because no place to put my table and display my wares. We thought they would finish it in three or four days’ time. Unfortunately, it has lingered for over one week now. Already, it has started to rain which would worsen the

Dug roads at different places in Lagos

A fibre cable mess

Ordinarily, fibre optic is a blessing to the technology world where it is used by many telecommunications companies to transmit telephone signals, internet communication and cable television signals. But to some people in Lagos, the indiscriminate cutting of roads and burrowing of grounds is a big inconvenience, if not total discomfort. EZURIKE UGOCHUKWU writes situation now. Virtually every corner is now muddy, sticky and water logged. If you are not observant, your legs will match into the flooded holes unknowingly. This is what we suffer here every time.” She lamented. Afolabi added that, “even if they had government approval, does it mean they will pursue us out of our source of livelihood because they want to give us telephone?” To a vulcanizer and a kiosk owner, around Kantogora market along Abule Egba road, area of Lagos, “their business in one way or the other hinders our own business. We still pay some revenue to the state. As such the cable laying company shouldn’t deny us our means of livelihood and the State Government should put us in consideration when granting license to the cable companies,” he said. Mr. Akin Akinbode, is a trader in Lagos; he perceives the activities of these network providers as a temporary nuisance but wonders aloud if there is an end to it in the nearest future. “Many cables have been laid before now. The supervisors to the various companies promised to cover the earth as they met them, but they never fulfilled that. We don’t even know the company that is laying the cables now. Within the period they carry out their work, our businesses are endangered, passers-by are endangered, likewise our customers. At times, holes are left uncovered up to one month. When it rains, they get flooded. Unsuspecting passers-by very often get fractured.” He said. Akinbode bemoaned the constant excavation of the environments, as not proper. He is worried that economic activities are disrupted in laying cables

Accidents have occurred in many places as a result of uncovered burrows

that ought not to have disrupted businesses and movement. He told a story of an accident that occurred. He said a tipper truck killed a little girl, who was hawking sachet water. “The girl wanted to jump across but was constrained by heap of sand dug by a telecommunication company and burrowed ground in front of her. The tipper came and crushed her. There are many cases of such. I may not be out of order to say the master plan of this city has been distorted by our politicians because of their selfishness. The work no doubt, stands to benefit Lagosians, but that’s not the best way to about it,” he said. An Electrical/Electronics engineer in one of the reputable multinational electrical engineering Companies, Engr. Samuel Orji, decried the shortsightedness of the government in not constructing tunnels ab initio for the companies to lay their optic fibre cables as it is practiced in other advanced countries of the world. According to him, if this procedure was followed, cables could be laid as often as network providers had wished without citizens knowing. “In developed world, hardly would citizens notice that a company is burying their optic fibres because there are already built tunnels/ducts underground where cables pass through with more space available for newer companies. All they will do is to go through the manholes or vaults created at some distances. Through that, they run their cables with ease, at a cheaper cost and lesser risks.” Orji expressed fear that it may be difficult to embark on such now, because it may be so

challenging in old cities, as it will amount to destroying the existing underground fittings such as, pipes and cables. On why optic fibre cables are not laid on poles like electric wires, Orji explained that electric wires could still be laid underground like the optic fibres as it’s practiced in other countries. “Even here at FESTAC town Lagos, optic cables are better done underground to avoid breakages on the cables. Such provisions should be made in the sprouting new cities of Lagos.” The Public Relations Officer, PRO, of the Lagos State Infrastructures Maintenance and Regulatory Agency (LASIMRA), Mrs. Alabi Ramat, said they have time frame agreement with every network company on when to start and finish their work. She said, “We are in-charge of underground facilities; and we understand you journalists are interested on the safety of the people. Though, at times, what we hear that happens in the field runs contrary to our agreements with them. The present job at Iyana Ipaja is being done by Etisalat Nigeria.” On whether government has a plan for an underground tunnel that could carry all the optic fibres rather than consistent burrowing, she said ideas expand on daily basis. She encouraged any of the network providers that could do that to come up. “We also expect and will encourage any of the companies that will do such a tunnel while others will pay them to install their own cables underground. Development cannot be tied to a particular model and pattern we are hoping to improve.” She said.

Life | In The City

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

Muritala Ayinla

uhammad Lawal 2, was recently diagnosed with tetralogy (a hole in the heart). Doctors who carried out the series of diagnosis on the little boy said he may not survive unless his parents were able to raise N2.8m for the heart surgery in India. Sadly, in spite of the urgency and the delicate state of Lawal’s health, his parent could only raise N5, 000 out of the N2.8m needed for the overseas surgery. Lawal’s father, Musa, apart from being unemployed graduates, was also a cadet member of an Osun State Youth Empowerment program, OYES. He has thus far appealed to well meaning Nigerians for financial assistance to enable him save his son’s life but he is yet to get positive result. For Mrs Blessing Eze 43, it will take the grace of God to come back to her healthy life again. Eze, a roasted yam seller on Lagos Island was diagnosed for kidney failure; she had been to several hospitals before the mother of four was discovered to be suffering from kidney infection. Having been to three specialist hospitals in search for the treatment of the sudden diseases, the medical experts strongly recommended foreign expertise and facilities to save her life. But how the poor family who live in Tolu area of Ajegunle will raise the N7million needed for the surgery in the United Kingdom remains the major concern, which had made the family to cry for assistance in the media. These are few cases of Nigerians who suddenly fell ill of cardiovascular diseases, CVD, and other deadly ailments. Their pathetic stories are sometimes published in the newspapers and aired on the television and radio; appealing to the public spirited Nigerians to pay into certain accounts to enable them do the surgery mostly overseas due to lack of the facility and expertise in the country. They are conditions and diseases that affect the heart and blood vessels throughout the body. Sadly, more than 80 per cent of deaths from CVD occurred in low and medium income people mostly because they lack the wherewithal to treat the diseases. According to some experts and the World Health Organisation, WHO, by 2015 about 20 million people would die from CVD, representing 30 per cent of total world death. WHO estimated that by 2030, there would be a great shift from infectious diseases to Non Communicable Diseases (NCD), with NCD accounting for more than 75 per cent of deaths worldwide. The organisation added that by 2030 CVD alone would be responsible for more deaths in low income countries than communicable diseases (including TB, HIV and Malaria), maternal and prenatal disease and nutritional disorders. CVD is the largest contributor to global mortality and will con-

The newly commissioned Cardiac and Renal Centre in Lagos

Giving hope to cardiac, renal patients tinue to dominate mortality trends in future. Experts say there are more than 60 types of CVD ranging from the common such as hypertension and coronary heart disease to the uncommon congenital malformation. Some cardiovascular conditions are present at birth, while others develop over many years. According to them, major causes of CVD deaths are: Coronary heart disease, stroke and rheumatic heart disease By 2005, the total number of cardiovascular disease (CVD) deaths had increased globally to 17.5 million from 14.4 million in 1990. 7.6 million deaths was due to coronary heart disease and 5.7 million due to stroke. In Lagos State health facilities, a total case of 22,785 cases of Hypertension were managed while the figure rose to 23,203 in 2013. Such was the growing rate of the people suffering from these deadly diseases. Those without the wherewithal to manage diseases succumb to death after writhing in pain for many months or years before they gathered enough money for the foreign medical bill, while the wealthy ones are hurriedly flown out of the country for the needed surgery without any publicity at all. In the long run, the lucky ones survived after the corrective surgery abroad while the not-so-lucky ones lose the battle and succumbed to death after spending huge sum of money they would have loved to invest in the more rewarding and lucrative ventures. Today, most Nigerians have become victims of medical pilgrimage abroad; the old, young, rich, poor, clerics, powerful, prominent

personalities, including thespians and politicians. Some of them had died before, during after the surgery abroad. According to experts, over 5,000 Nigerians fly out on monthly basis, seeking medical treatment in India and other countries. Consequently, Nigeria loses $500 million annually with India getting $260million of the resultant cash flight. The situation will even be worse with the current devaluation of Naira against US dollar , which automatically means that Nigerians will have to pay more to get treatment abroad and more people may have to die due to lack of purpose built cardiac and renal centre in the country to cater for the growing demands of hapless patients. But in a bid to address issues of evitable death arising from cardiac and renal failure and save the precious time which is constantly wasted in raising the fund needed for the surgery abroad, especially for the indigent, the Lagos State Governor, Babatunde Fashola will today commission a 67-Bed Cardiac and Renal Centre in Lagos. According to the state government, the establishment of the centre will also attract all Nigerians experts abroad who had left the nation due to lack of such facilities to practice. Speaking with journalists at the state Secretariat, Alausa, Ikeja, the state Commissioner for Health, Dr Jide Idris, who made the disclosure, said that the construction of the Cardiac and Renal Centre at the Lagos State University Teaching Hospital Annex at Gbagada General Hospital is to conserve the financial resources currently being expend-

ed in the management of patients with renal and cardiac diseases in foreign Idris said establishment was considered appropriate and timely following increasing number of patients presenting with end stage renal failure which had sent many Nigerians to their untimely graves. The facility, according to Idris is designed to handle heart and kidney related disease also offers out-patient services, diagnostic services, ultrasound, CT scan, Echo cardiography, Stress Electrocardiography, laboratory services and fluoroscopy. “Other cases to be handled by the facility include: ocular investigation for complications from hypertension, diabetes and renal conditions, haemo-dialysis for acute and chronic kidney diseases with 24 dialysis machine, admission for all cardiac conditions that requires hospital stay, critical care in intensive care unit (ICU) and high dependency wards, cardiac catherization, non invasive cardiology, open heart surgery, renal surgery, nursing and diabetic services, rehabilitation services and corporate wellness programme.” Equipped with 67-bed and located on 2,317 square metres or24,792 square feet of land, the centre is designed to provide access to all floors by two bed lifts and a wide ramp which allows two trolleys to pass simultaneously. At the side of the elevator were the fire service stairways provided to forestall outbreak of fire. Meanwhile, New Telegraph gathered that the initial cost of the edifice was N1.043 billion and was CONTINUED ON PAGE 27

Life |

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

A place where Fela still lives Samuel Tafa

ela Anikulapo Kuti is dead but he still lives on! He lives wide and free at the African Shrine, where his type of music reins and spirit flows mostly inside his fans who never wish to lose his memory. At the African Shrine, where Afro music is the main dish served, the adrenalines and pulses are ever at top gear. Of course, they are aided with all sorts of concoction, spirit drinks and marijuana. At the Shrine, all kind of slangs fly from one person to another person. It is normal. Abnormal dressing and wierd display of characters are the norms also. As matter of fact, proper spoken English and decent dressing is inappropriate and could be a giveaway for a first timer, which gives room for taunting from the touts at the place. Well, they are no crime; those are actually the factors that make the Shrine tick and lively. Located at Number 1 Nerdc Road, Agidingbi, Ikeja, not far from the Lagos State Secretariat at Alausa, is the social and lively environment of the Shrine. It just can’t be mistaken especially with the overpowering smell of marijuana and cigarettes. Driving through the street, Raster looking human beings are lingering in front of the building. They smoke marijuana freely in the open. With unkempt Bob Marley hair styles,(some are not even combed at all) they look dark, wide and with blood shot eyes but they are harmless and peaceful, except one looks for their trouble. But there are a handful of mentally deranged people, both male and female around the Shrine. According to Toriola, a petty trader, who deals on cigarettes, kola nuts and sweets, most of the mad human beings loitering around the environment are products of the shrine. How? “Their brain is light. They take Marijuana, with all sorts of concoction that their health cannot tolerate and before you know it, they go hey-wire. They began to dance out of beat and speak rubbish from their mouths. Some recovered by morning while some couldn’t get out of the mess. Sadly, their parents or relatives wouldn’t know about their whereabouts,” she said. Toriola cited an example of an insane woman, by name Sandra, living around the vicinity. She described Sandra as a very beautiful woman, who unfortunately got destroyed with hard drugs and marijuana. But she quipped that Sandra occasionally does control herself. “Anytime she is in self control, her beauty radiates out and she is an easy going woman who speaks fluent English to passers-by but she is totally insane,” she said. Toriola added that, “the environment here is very lively, mostly with easy going people. Whenever there is any misunderstanding between the occu-

Outside the Afrika shrine

Main auditorium of the Africa Shrine at night

pants of the shrine and people living within the vicinity, they have a way of settling it amicably.” Usually, the bone of contention, according to some of the residents around the vicinity is the issue of security and pollution of the air with scary faces roaming the street. Most of the residents who spoke with New Telegraph pleaded anonymity for fear of reprisal attack on them. One of the landlords whose building is very close to the shrine, told New Telegraph that there was a time that rape was very rampant but that has calmed down now, more because of the presence of security men(Police) around. “Until the presence of the Police force around and occasional

patrol, there wasn’t peace at all for us. They attacked, robbed us in front of our gates but that is gone now. The only challenge now is the smoke of their Marijuana renting the air. And I heard that those who inhale are smokers as well. If only the State Government can help look into that aspect for us, it will be fine for us,” he said. Another resident said the only problem she has is the issue of petty stealing and the loud voices of argument at night. “Their croaky voices enter into my sleep at midnight and wake me up. They don’t have regard for other users of the environment; they fight over marijuana or once they get intoxicated, they start to misbehave and talk incoherent-

ly,” she said. A landlord said his house has turned into a love nest where they have quick chat and puff cigarette smoke into the air. “My sitting room is like the centre of the shrine itself because there is no much difference between the inside and outside where the smoke emanate from. I must confess that this area is not too good to raise a decent child,” he said. CONTINUED ON PAGE 27

Life | In The City

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

My City, My World I simply love Lagos, says Bambe Ruth Okocha o Reverend Sister Roselyn Tprofession, Mary Bambe, a nurse by Lagos is a beau-

Some of the newly installed equipment of the centre

Lagos Cardiac and Renal Centre CO NTINUED FRO M PAG E 25

awarded to Deux Project Limited on 22 September, 2008 while the construction of the project commenced in March 2009 with oneyear completion duration. However, the cost of the project was later reviewed with the addition of N796.059 million in 2011 bringing the total cost of construction to N1.839 billion. The cost equipping the centre gulped N3.389 billion, bring the overall total cost of the project plus equipment to N5.228 billion. The Deux Project Limited also handled the equipment contract.

But to effectively manage the project and ensure that facilities and the equipment are not vandalised, the Lagos State Government has signed a Memorandum of Understanding with Renescor Health Limited Liability Partnership to run and manage the facility under a 5-year Operation and Management (O&M) concession renewable for another five years term subject to satisfactory performance and mutual agreement of the parties wherein the proponent will provide all of the healthcare services and total facilities management required for the value-engineering Renal and Cardiac Centre.

The centre will also attract all Nigerian experts abroad who had left the nation

‘Lagos is pacesetter state’

Fela is alive here CONTINUED FROM PAG E 26

While some residents are quiet disturbed about the Shrine, others are indifferent to it. Truth is, they actually enjoy it. Theodora Onyeka, said, “I do come to the shrine mostly on Thursdays and Sundays to watch Femi Kuti performing on stage life to entertain the people and make them to remember his father, Fela Anikulapo- Kuti. I really enjoy myself with the song of the musical icon Femi.” She also made it known that, the people living in the shrine are very friendly to me and most of them are my friends’’. Also speaking, Egiro Opkaye, a trader on the street said, “the shrine has been here before I started selling in this street. The people who live and patronize the Africa Shrine are our customers; they buy recharge cards and other items from us on credit and pay later but they do litter everywhere with papers, half smoked cigarette and sachet water nylon”. Painted in Orange colour makes the Shrine radiate beauty and life. Its environment is beautified with flower decorations and coconut trees planted at the front view. The garage is filled with exotics vehicles of different shapes

and sizes owned by customers, who patronize the club both day and night. Customers are strictly screened at the gate before coming inside the shrine. Inside the Shrine, photographs of the Afrobeat icon, Fela are hung around with other people of great history. The stage is built and set with musical instruments, ready for performance at a given time. The Africa Shrine can be viewed in various perspectives, concert hall by night, social drop in centre during daytime, living space, a place for political instructions, a temple. The Shrine remains a place where awareness is mixed with forgetting their daily problems and words are put into music. Differences games, such like Snooker, Naira Bet and many others are put in place for the customers to play and enjoy to the full. According to history, the shrine came into existence in the year 1968 and it was known as Afro spot, a night club that was rented and called Kalkuta. Then, it was moved to different places known as his place of worship. He was the chief Priest of the Shrine. Also in history, the shrine was seized in year 1977 after soldiers burned down Fela’s house before he found a land located at Pepple

tiful place that has evolved into a gigantic city. Having lived in Lagos for the past 33 years, she makes bold to say Lagos is peaceful to a large extent. She appreciates the efforts of the leaders of the Bambe state for the reforms thus far in the state. Oshodi, for instance, she described as a very rough place with a high rate of robbers and swindlers, rough roads, road side vendors occupied most of the road: but now “with the discipline and firmness of the governor, Oshodi has transformed into a very neat place with good roads, BRT buses are seen conveying people and there is orderliness. No more Molue buses and pick pockets inside buses. I’m not saying those things are not there but it is at the lowest minimal now,” she said. Bambe continued that Lagos is a place where everyone must be smart and vigilant. “It is only in Lagos where nothing and nobody can be predicted. Anything can happen at any time and in any place,” she said. She added even though she does not move about like most people do because she is always at the convent, the few times she went out, the traffic has being a constant challenge as a journey of two hours turns into four hours. She said the only way to reduce traffic is by constructing more alternative routes for Lagosians and also reducing the number of car owners on the road by attaching tax like they do in other countries. She also said there is inadequate power supply; she urged the government to do something to steady electricity in the state. I like Lagos so much and all thanks to the government.

Ruth Okocha oses Ajodun, the media direcM tor of OJB foundation believes Lagos is a pace setter and it has Street in Ikeja, where he rented a land and built the Africa Shrine. It was evicted at the location after Fela died on August 3rd 1997 at age of 58 . But his son, Femi, erected a new befitting “SHRINE” in honour of his father Fela Anikulapo-Kuti at the present location Agidingbi-Ikeja the heart of Lagos State. On the pillars of the Shrine are portraits of Great African Leaders, Africanist, Poets and heroes of Black Power, such as Fela Anikulapo-kuti, Nelson Mandela, Patrice Lumumba, Thomas Sankara, Kwame Nkrumah, Mathin Luther, Malcolm X, Olufunmilayo Ransom Kuti (Fela’s mother). Another shrine, but little, is built at a corner of the Africa Shrine with a status of the legend that symbolised the late Fela as a deity. The four elements of Earth, Water, Wind and Fire can be seen alongside memorable pictures of Fela. The sanctum at the heart of the Shrine is the fibre image of Fela starring at anyone looking right opposite him? Below the image is a spring-like flow of water. Significantly noticeable above the fibre image of Fela is his major trademark tight fitting costume that he wore for his last major performance before his demise.

set the pace for other states. He said: “I have lived in Lagos all my life, I was born here and I have no other place but here. Lagos is home Ajodun for me and all I am is Lagos”. He went on to say he has not been anywhere else except Lagos. He said perhaps, if he had other options of staying in another state, he might have done well but for now he cannot tell as all he has is kudos to Lagos. “I thank Lagos for making me a success in my career and family. He further said that Lagos can be likened to America in terms of the high level of infrastructural development, housing etc. Ajodun said that despite the fact that the government has done well so far, he appreciates them, but stressed that they can still do better. “For instance, the traffic in Lagos has not improved; we still experience vehicle and human congestion. The government has to provide more pedestrian walkways and also provide road for vehicles in order to avoid congestion. He said another major challenge in the state is the drainages. He pointed out that some parts of Lagos have been taken over by water. He lamented that some Lagosians are confined to their houses during the rainy season or go about with rainboots or canoe because there is lack of good drainage system. He said the government should also bring a sense of security and orderliness into the state by controlling the thugs or even send them packing totally from the road and they should be checkmated at all times. He added that the state government should provide more space for disposal of waste materials and more recycling centres for waste too. “Despite all these, Lagos is my home of origin and I have a paradox which says “everywhere can be a home for you if you made it so.”

The Mega City

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

UPCOMING EVENTS

Verdant Zeal 2015 Innovention Series

Organiser: Verdant Zeal Marketing Communication Date: March 24, 2015 From 11:00 AM - 4:00 PM Venue: Civic Center Ozumba Mbadiwe Victoria Island Lagos, Lagos 2341 Nigeria

Arts in the Digital Age

Organiser: Arts in the Digital Age Organiser: British Council Arts Date: March 17, 2015 From 11:00 - 13:00 Venue: TerraKulture Victoria Island, Lagos

CCN 3rd ANNIVESARY SUCCESS SHOWCASE 2015

Organiser: Carbon Credit Network Date: March 19, 2015 From 9:00 AM - 4:00 PM Venue: Convention Centre, Eko Hotel & Suites, Victoria Island, Lagos

iRead Network’s ‘Save the Environment’ Conference Organiser: iRead Network Date: March 19, 2015 From 10:00 AM - 12:00 PM Eko Hotel & Suite Adetokunbo Ademola Street, Victoria Island, Lagos Eti-Osa, Lagos Nigeria

SME FINANCE WORKSHOP! FINDING MONEY Organiser: CapitalSquare Lagos Date: March 21, 2015 From 11:00 AM - 4:00 PM Venue: CapitalSquare Lagos Lekki - Epe Express Road Lagos, Nigeria

THESPIAN Family Theatre & Productions presents “The Wizard of Law” Organiser: THESPIAN Family Theatre & Productions Venue: 10 Ikoya Street Off Macpherson Street, Off Bourdillon Road Ikoyi, Lagos, Nigeria

MEGA CITY EVENTS FRIENDS HOST RAZAQ OKOYA ON HIS BIRTHDAY IN LAGOS

L-R: Mrs. Doyin Abiola; Hajia Abba Folawiyo and Yewande Onilere…at the event

L-R: Otunba Adekunle Ojora; Prince Samuel Adedoyin; Oba Dapo Tejuosho; Prof. Pat Utomi; Alhaja Kuburat Okoya; Celebrant, Alhaji Rasaq Akanni Okoya; his wife, Shade and Erelu Ojuolape Ojora, during 70th Okoya’s birthday Anniversary organized for him by Pat Utomi and friends in Lagos

Wedding reception of Mr. & Mrs. Taiwo Solarin

L-R: Bride’s Father, Rear Admiral Lanre Amusu (rtd); groom’s sister, Mrs. Olabisi Adeyemi; the couple, Mr. & Mrs. Taiwo Solarin; groom’s father, Mr. Oluwole Solarin; and Bride’s mother, Major General Tilewa Amusu, during their wedding at St. Paul’s Anglican Church, Agege Motor Road, Idi-Oro, Lagos.

Groom’s men and bridal train maid with the couple…at the event

Wedding reception between Jumoke Oyatomi and Segun Ayinla, at Faith Arena, Winners Chapel, Isheri-Olofin. Lagos

The couple, Segun Ayinla and his wife Jumoke, cutting their wedding cake

L-R: Groom’s father, Mr. Oluwakemi Ayinla; Mrs. Kemi Oyatomi; bride’s mother, Segun Ayinla; groom and his wife Jumoke, bride’s Father, Barr. Kunle Oyatomi, and groom’s mother, Mrs. Elizabeth Ayinla, at the wedding ceremony

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

FCT Watch

Strengthening NDIC, CBN’s bond

Money

Maritime

2014 FY results may point to banks’ resilience

NPA moves to eject squatters from Lagos ports

Firms’ listing as fillip for stock market growth

The Investor

Business What's news

Nigeria imports N313.97bn palm oil in five years Nigeria imported 2,370,000 metric tons of palm oil valued at N313.97 billion ($1,569, 888,000) in the last five years through the nation’s seaports.

Oil price rout: Cash crunch hits govt agencies TRAGIC

Cash crunch linked to politics

of his colleagues, in the ranks of Assistant Director upward, got theirs only last Friday. Another civil servant, who spoke on the condition of ano-

nymity, disclosed that workers of the Ministry of Education were yet to be paid their February salary. On what could be responsible for salary delay,

the civil servant said that government was probably having CONTINUED ON PAGE 30

Isa Abdulwahab and Yekeen Nurudeen  Abuja

p.30

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

ndications emerged at the weekend that ministries, departments and agencies (MDAs) of the Federal Government are facing a severe cash crunch, resulting in delay in the payment of monthly emoluments of their staff.   The development has been attributed to the crash in the price of crude oil at the international market, which has lead to a reduction in the income of the Federal Government. Oil, which accounts for about 80 percent of government revenue and about 90 percent of Nigeria’s foreign exchange earnings, has lost about half its value since late June amid weakening international demand growth and rising supplies from US shale formations. There were also speculations that the cash crunch might not be unconnected with the political atmosphere particularly as the nation approaches the general elections. Some civil servants have, however, expressed different views on the cause of salary delays, insisting that it has become a new trend in the system. Checks by our correspondent showed that some civil servants at the Ministry of Defence were paid their February salaries last Friday. A senior staff of the Defence Ministry told New Telegraph that while he got his February salary earlier; some

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

L-R: Baba Oja, Oke-Arin Market, Shina Thomas; Deputy Chairman, House Committee on Finance, Lagos State House of Assembly, Oluyinka Ogundimu; Head, SME Banking, Stanbic IBTC Bank, Mr. Akintunde Oyebode and Iya Oja, Oke-Arin Market, Madam Adunni

Ojo, at the commissioning of the Stanbic IBTC Bank Offin Cash Centre, Oke-Arin, Lagos.

Shareholders lose N49bn in oil and gas firms Chris Ugwu

nvestors in oil and gas companies quoted on the Nigerian Stock Exchange (NSE) recorded a loss of about N48.513 billion between January and March 16, 2015, following panicky sales that had persisted in the equity market.

As at the time of filing this report, the market capitalisation of the Exchange, which gauges the value of listed stocks, stood at N9.987 trillion as against the opening figure of N11.477 trillion at the beginning of trading in January 2015. This translated to a loss of N1.490 trillion or 14.9 per cent.

Checks by New Telegraph showed that the oil and gas subsector recorded a loss of N48.513 billion or seven per cent to close at N703.511 billion in market capitalisation on March 11, 2015. This is against the opening figure of N752.024 billion at the beCONTINUED ON PAGE 30

Rates Dashboard INFLATION RATE January 2015...........................8.2% December 2014.........................8% November 2014........................7.9%

LENDING RATE InterBank Rate....................12.57% Prime Lending Rate...........17.93% Maximum Lending Rate...26.83%

EXCHANGE RATE (BDC as at Mar.13)

USD . . . . . . . . . . . . . . . . . . . N225.50 Pounds . . . . . . . . . . . . . . . . . . . N334 Euro . . . . . . . . . . . . . . . . . . . . . . N240

l Foreign Reserves – $30.414bn as at 12/03/2015

Source: CBN

EXCHANGE RATE (Interbank as at Mar.13)

USD . . . . . . . . . . . . . . . . . . . N198.10 Pounds . . . . . . . . . . . . . . . . . . N303 Euro . . . . . . . . . . . . . . . . . . . . . N225

Business | News

LOW OUTPUT

Nigeria has ceased to be the largest producer of oil palm in the world Bayo Akomolafe

igeria imported 2,370,000 metric tons of palm oil valued at N313.97 billion ($1,569, 888,000) in the last five years through the nation’s seaports.

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Nigeria imports N313.97bn palm oil in five years The commodity, which is being sold at $662.4 in the global market, was shipped to the country between 2010 and 2014. Data obtained from the United States Department of Agriculture (USDA) revealed that in 2010, some 435,000 metric tons were ferried through the port.

Also in 2011, it was 440,000 metric tons; 2012 - 470,000 metric tons; 2013 - 500,000 metric tons and 2014 - 525,000 metric tons. As at 2014, Nigeria produced only 930,000 metric tons per annum, while the annual consumption of the commodity in the country is 1.5 million met-

ric tons yearly. The country’s production began to decline in 1976 when the demand was greater than supply. Between 1950s and 1960s, USDA data explained that Nigeria was the largest producer of crude oil palm in the world with a market share

of 43 per cent. It supplied 645,000metric tons of palm oil, across the global market annually, but the reverse has been the case in the last seven years. Producers of noodles, vegetable oil, biscuits, chips, margarines, shortenings, cereals, baked stuff, washing detergents and cosmetics had to rely on imported crude palm oil for their business. Early this year, there was a report by the Guaranty Trust Bank Plc (GTBank) in its 2015 macroeconomic outlook that the Federal Government may limit palm oil importation into the country. The report noted that significant drop in Nigeria’s revenue as a result of the slide in crude oil prices may compel the Federal Government to

impose further restrictions on certain agricultural products such as nuts and rubber goods. But data by the USDA has revealed that the country may import 550,000 metric tons in 2015. Despite the revelation by the report, Lagos Port Complex has taken delivery of 23,200 metric tons of the commodity from two vessels this year. MV Champion Spirit discharged 5,000 metric tons at the Apapa Bulk terminal Limited of the Lagos Port Complex, while Alo MV Sira offloaded 18,200 tons in the same terminal. It was learnt that palm oil importers at the Lekki Free Trade Zone in Lagos had been enjoying 75 per cent duty waivers from government over the years at the expense of local palm oil farmers. Annual palm oil export from Malaysia and Indonesia, the largest producers, is valued at $50 billion in the global market.

Cash crunch hits govt agencies CONTINUED FROM PAGE 29

financial challenges because of the dwindling resources and the alleged diversion of available resources to political campaigns.  “They won’t own L-R: Communications and Engagement Manager, GSK Consumer Nigeria Plc, Ms. Bolaji Sanyaolu; First one million naira winner in the up that monies are being on-going Lucozade Ribena Big cash give away promo, Miss Glory Idoda; Brand Manager, Ribena, GSK Consumer Nigeria Plc, Mr. Essien mopped up to finance Ekemini and Head, Regulatory Affairs, Dr. Uwem Udoma, during the prize presentation in Lagos. elections, but that is the PHOTO: SULEIMAN HUSAINI reason. This is not peculiar to this administration. It happened during CONTINUED FROM PAGE 29 Chief Olusegun Obasanjo ginning of trading in January. and late Yar’ Adua’s era. Foreign investors have The fall in the price of crude of Finance and Coordinating Civil servants bear the continued to offload Nigerian oil in the international market Minister of the Economy, Dr. brunt of election financstocks as the price of crude is sending economic and politi- Ngozi Okonjo-Iweala, the fall es because funds are dropped into a bear market cal shocks around the world, in oil prices has led to new ausnaturally mopped up to and on concern that measures the hardest hit being coun- terity measures. prosecute elections of the the Central Bank of Nigeria tries whose economies depend The minister said that the government in power,” he (CBN) put in place to stem largely on oil for appreciable country would begin to feel the said. He noted that governcapital outflows would hinder percentage of their foreign ex- negative impact of the fall in ment will tie salary delay their ability to sell holdings in change earnings. global oil prices, cautioning to the introduction or deAfrica’s top oil producer. According to experts, crude that the country would need According to a recent re- oil accounts for about 90 per to brace up for tougher times ployment of Integrated cent of Nigeria’s foreign ex- ahead by reviewing its expenport, foreign investors sold off Personnel and Payroll InNigerian stocks valued at $4.5 change receipts. ditures and building economic formation System (IPPIS) billion since September last The reality of possible buffers through budgets based to compute MDAs salary payment.  year after a drop in the oil price crippling budget shortfalls on modest oil prices. She said that the decline in and the naira coupled with in- also stares many oil exporting Meanwhile, the Fedcreased political risk ahead of countries in the face as the crude oil prices had assumed a eral Capital Territory the presidential election later priced commodity has hit its disturbing dimension. Administration (FCTA) this month and insecurity due lowest price level in four years. may have also been hit “Without a doubt, this slowto persistent Boko Haram atCrude oil prices started down in global economic activby the apparent financial tacks. dropping in the international ities, coupled with the end in crisis plaguing the MDAs Data from the Exchange market from as high as N110 the quantitative easing in the of the Federal Governshowed that these investors in- per barrel in January to the US, will affect the sub-Saharan ment. New Telegraph recreased exiting the market to- current level of $57 dollars. African economy, in addition liably gathered that the wards the last quarter of 2014, It is noteworthy that crude to the regions’ other specific administration, which selling out of the relatively oil is not just the principal ex- challenges. As we all know, usually pays its staff salary on the 24th day of evliquid banking, consumer and port commodity of the coun- many countries on the contioil sectors as the price of Brent try, but, indeed, all aspects of nent depend on commodity ery month, had to push crude, the bench mark against the nation’s economy rely on exports as their main sources the payment of February salary to the second week which Nigeria’s oil is priced, the commodity as the major of revenue. of March.  dropped. source of revenue. “Nigeria and other counA staff of the adminisThe annual budgets, which tries on the African continent The plunge in the oil price has put Nigeria’s currency define the direction of the must step back and learn the tration privy to the rununder pressure and dampened country, is based on crude oil lessons of the on-going econing of the administraappetite for assets in Africa’s price benchmarks. nomic transformation. The tion confirmed that the biggest economy and chief oil While the 2014 budget was Federal Government has set payment of February salexporter, prompting the bank- based on $78 dollars per barrel, up a strong stabilisation policy, ary was delayed contrary to the practice when it is ing watchdog to intervene re- the 2015 has been predicated at but the most important being peatedly to try to prop up the $52 dollars per barrel. that we must be able to sustain paid on the 24th day of the local currency. According to the Minister the drive,” she said. month .

Shareholders lose N49bn

He, however, declined comment on what may have caused the delay in the payment of February salary, adding that the salaries for December and January were paid promptly.  “Yes, the February salary was delayed, but we don’t know why. January salary was paid on the 24th while in December we received salary on the 16th. We only hope that this month’s salary will be paid next week (this week),” the source said.  He added that the nation might also be running into serious economic crisis with the external reserves drawn down to $30 billion, adding that the recent visit of the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, to the Nigerian Stock Exchange (NSE) was an indication that all was not well with the nation’s economy.  Noting that the nation may be in serious economic crisis after the elections, he added that government had, in the last three months, spent huge sums of money to pay political campaign consultants rather than paying contractors who had executed some capital projects.  It would be recalled that the FCT administration recently introduced entertainment and event tax to augment its dwindling revenue.  The tax, which is targeted at luxury goods, is expected to generate between N10 billion and N15 billion annually.

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

FCT Business Watch

Strengthening NDIC, CBN’s bond assume and exercise and their consequences were analysed to include power to licence banks, power to supervise banks without reference to the CBN, power to determine the licenses of banks and power to appoint itself as liquidator.

Abdulwahab Isa Abuja

he benefit embedded in synergy and role sharing, especially between key organisations that share some forms of responsibilities, are unquantifiable. In the banking sector for instance, the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN), two key supervisory and regulatory agencies in the banking sector, have cooperated in various fronts with the aim of ensuring a sound and safe banking sector. In 2012, the synergy between Duo was the magic wand that saved the sector from what was clearly becoming another calamitous banking episode in the case of the defunct Afribank, Spring Bank and Bank PHB, which were manifesting symptoms of liquidity problems and encountering difficulty in meeting their obligations to depositors. The twin agencies - CBN and NDIC - worked seamlessly to resolve the apparent failures without loss of deposits by the depositors. Depositors’ funds were moved to other banks, which assumed control in purchase and assumption exercise consummated by CBN and NDIC’s efforts. In fact, the harmony in supervisory roles between CBN and NDIC was rooted in the NDIC Act of 2006, which enabled it to collaborate with CBN to resolve bank failures without loss of deposits by depositors of the affected banks. Needless to restate here that the responsibilities and functions being performed by NDIC as of today was hitherto vested in a department of CBN before NDIC was established in 1988 as a full-fledged agency whose take-off staff were deployed from CBN. NDIC’s quest for further amendments There is no doubt that NDIC’s role of safeguarding and protecting depositors in event of bank failure has been made a lot easier and efficient through various amendments effected in the 1988 Act in September, 2000. The Bill on amendment, which was in the nature of a repeal of the 1988 Act and an amendment of the NDIC Act 2006, was passed by the National Assembly and forwarded for the assent of the president, which was given on December 22, 2006, culminating in the promulgation of NDIC Act 2006. The Act substantially addressed some of the weaknesses in the 1988 Act. However, current developments in the international fi-

Mark

Emefiele

nancial system in general and the Nigerian financial services industry in particular, had necessitated the need to strengthen supervisory framework of the regulatory agencies to enable them meet the current challenges. Against the backdrop of the foregoing, NDIC sought repeal for some sections of NDIC Act 2006 and re-enactment of NDIC Act of 2014 through the National Assembly. In all, NDIC is seeking 25 amendments to the corporation’s 2006 Act aimed at rectifying errors noticed in the drafting of the 2006 Act as well as infusing additional insight and experience derived from the operation of the Deposit Insurance Scheme (DIS) in Nigeria. Some of the highlights of the proposed amendments include public policy objectives, NDIC functions, which seeks to include revocation of operating license of insured institutions as an additional point of crystallisation of the obligation to pay insured deposits, which is the current practice and delete the reference to imminent suspension of payments by insured institutions; disqualification of board members, composition of management committee and conflict of interest, among others. To garner inputs of all financial stakeholders on the 25 amendments being sought, the Senate Committee on Banks, Insurance and other Financial Institutions convened a public hearing last week, which had the CBN, NDIC and other interest groups in attendance. Senate President, David Mark, while declaring the public hearing opened, said that the exercise was aimed at obtaining authentic information from various shades of interest and opinion to enhance and guide the Senate in its legislative action. Represented by Senate Lead-

Ibrahim

er, Victor Ndoma-Egba, Mark said: “It is hoped that this exercise, if successfully completed, would produce results that are acceptable to the generality of our citizenry.” Chairman of the Senate Committee, Bassey Out, said that the repeal and re-enactment being sought in the Bill is targeted at revitalising and enhancing the operational framework of the nation’s financial institutions and, in essence, “strengthen their capacities in addressing challenges in line with international best practices.”

NDIC is not in competition with the CBN

CBN’s objection After listening to the amendments being sought by NDIC, the CBN concluded that there could be clash of interest or stand the risk of losing its supervisory powers to NDIC if those amendments were granted by the Senate. The Governor of CBN, Godwin Emefiele, represented by his deputy, Sulieman Barau, at the public hearing, said that the amendments being sought to the NDIC Act should be rejected as they are capable of causing chaos and anarchy in the financial sector. He noted that some of the proposals seek to confer coordinate functions and powers on the NDIC. As undertaker, CBN said that NDIC cannot seek to be a judge and prosecutor in its own case. Specifically, Emefiele insisted that the implications of the proposed amendment to the NDIC Act enactment would make the NDIC a parallel/coordinate regulator for banks as CBN; confer conflicting supervisory functions and powers on NDIC over banks; and create overlapping regulatory responsibilities for NDIC. He added that the powers that the Corporation sought to

NDIC’s defence Instructively, NDIC insisted that there was no anomaly, or what could bring conflict of interest in amendments being sought. In fact, the Corporation said that it was not asking fresher provisions, but a few alterations to ensure a healthy, safe banking environment. In a presentation to the Senate Committee on Banking, Managing Director of NDIC, Alhaji Umaru Ibrahim, said that the corporation was not seeking any role outside its lawful mandate. He said that the NDIC was seeking the amendments to ensure safety and soundness in the banking system. He succinctly dismissed the insinuation that the agency was in competition with the CBN, adding that its operational independence and mandate were provided by its Act. “Yes, we may have disagreements here and there; we are not reinventing the wheel. I noticed from the presentation of Mr. Barau that he may not be aware of the fact that many of these have been resolved and will be resolved. We are for collaboration; we are for the safety and soundness of the system. We are not in competition with the CBN. At the same time, we cherish our own operational independence and we cherish our mandate as provided by our Act. I can assure you that by the time we go through the details, you will find that there are very few areas of misunderstanding or conflict that we need to resolve,” he said. Conclusion From the foregoing, the fact remains that the interest of safe, healthy banking sector is paramount to both CBN and NDIC judging by the positions they canvassed. The importance of the banking sector cannot be toyed with by any of the stakeholders considering the banking failure experience of late 198o’s and early 90’s. It is therefore, safe to say that the National Assembly, which has the final say should be guided in taking action on the pending matter in the interest of ensuring a safe and sound banking system. Each player need to be empowered to discharge its mandate efficiently and effectively in a manner that the cooperation among the two is strengthened to deepen depositor’s confidence in the banking sector.

Business | The Investor

Chris Ugwu

nlike some markets in other climes, since the beginning of the economic meltdown in the mid 2008, the Nigerian capital market is yet to regain full investor confidence due to the loss suffered by investors and the inability of the market regulators to proffer a lasting solution to restore the market to its past glory when the stock market was a bastion of the nation’s economy. The question market operators and other stakeholders have continued to ask has remained how to turnaround the market. Hence, several players in the market are harping on the need to compel strategic companies such as oil, telecoms and power firms to be quoted on the Exchange considering the trend in some emerging markets. However, following the weak condition of the Nigerian bourse, market operators believe that the time is ripe for the Federal Government to heed the advice and toe the line of other countries, which have enacted a compelling law for the listing of all key companies doing business in the country. They noted that this is the only way to set in motion the necessary machinery required to turnaround the market. Experiences from other African markets According to reports, the Ghanaian Government is currently making moves to compel multinationals in the country to list on the Ghana Stock Exchange (GSE). Trade Minister, Ekwow Spio-Gabrah, disclosed this, saying that as part of plans to ensure that Ghanaians benefit from recent development in the economy, the local content policy would be replicated in all sectors of the economy. The move, according to him, is part of government’s indigenisation policy. Kenya enacted the Foreign Investor Regulation in 2002, which compelled multinationals operating in the country to list on the capital market. Also, the Tanzania parliament, in February 2010, passed a Communication Bill, which made it mandatory for mobile telecommunications companies to be listed on the Dares Salaam Stock Exchange. In Kenya, for instance, the legislation provided for a minimum of 25 per cent reserve of the issued share capital for local investors while the balance of 75 per cent was left for other categories of investors. The legislation made it possible for Kenyan citizens to invest in companies like Nation Media, a regional media player; TPS East Africa, a tourism operator and Safaricom, a mobile telecommunication company, amongst others.

Nigerian authorities’ efforts One of the efforts by the authorities to finding solutions that will bring these companies to list on the bourse led to the proposed Private Companies Conversion and Listing Bill presently at the National Assembly. Already, a trade group - Lagos Chamber of Commerce and Industry (LCCI), had said that the proposed bill would destroy the concept of free enterprise in Nigeria and has the undesirable consequence of dis-incentivising foreign investment in Nigeria. The bill seeks to provide for the private companies whose shareholders’ funds exceed N40 billion or its annual turnover exceeds N80 billion or its total assets exceed N80 billion, to convert to public liability company and get its shares listed in the Exchange market, thereby promoting growth for both the company and the Nigerian capital market. It was in a bid to save the equity market from collapse that the former Chair-

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Firms’ listing as fillip for stock market growth the NSE, I don’t see that not being successful.”

Jonathan

Minister of Trade and Investment, Olusegun Aganga

NSE is making progress in its bid to persuade telcos to list

Oscar Onyema

man, House of Representatives Committee on Capital Market and Institutions, Herman Hembe, also sponsored a bill to make it mandatory for the companies to be listed on the NSE. The chairman, in a statement in November 2011, said: “It is in the light of all these that this committee has set out to partner all stakeholders and market operators to engender growth and diversification of the market so that it can be more reflective of our nation’s economy. This House needs to lead the fray and we will, in ensuring that growth is engendered via the capital market. Thus, it is incumbent on us to pass legislative reforms that would encourage designated sectors to list on the Nigerian Stock Exchange. This will be through formal and contractual requirements to do so, supported by incentives, unbundling of stringent eligibility requirements that create high barriers for potential entrants and hinder participation by willing businesses, as well as adoption of options that promote foreign investment in our economy under terms that support our national interests. Also recently, NSE Chief Executive Officer, Mr. Oscar Onyema, had said that the bourse was making progress in its

bid to persuade MTN, Glo, Airtel and Etisalat, the nation’s four telecommunications firms to list their shares and offer ordinary citizens part-ownership. The NSE boss, who spoke on the sidelines of the World Federation of Exchanges (WFE) in Seoul, Korea, told Bloomberg by phone that discussions on the issue “has moved from them (the telcos) not wanting to list, to them looking at how to deal with the issues that would make it unattractive to list.” According to him, the NSE is “gaining traction,” in trying to entice more companies to place initial public offerings to better mirror the make-up of the Nigerian economy. While the last rebasing of Nigeria’s economy showed that the telecoms sector is a major contributor to the Gross Domestic Product (GDP), none of the telecommunication companies is present on the bourse. While none of the operators had come with applications to list stock, the companies did highlight “structural issues” hindering initial public offerings, Onyema said, adding that the bourse was working with the Federal Government to address any shortcomings. He said: “Some don’t need to raise capital, but some do. If any one of the four carriers wanted to raise capital on

Federal Govt’s intervention plan The efforts of the market authorities to bring these companies to list on the NSE received a boost recently when the Federal Government promised to come up with guidelines and incentives to encourage major companies in these sectors to list on the bourse. President Goodluck Jonathan said at a meeting with the capital market community in Lagos that the government attached much importance to the capital market, which reflects significant performance of the nation’s economy and would strive to make the market attractive to investors and issuers. As the biggest economy in Africa, the president said that the nation’s capital market ought to equally be the largest, adding that the only way to achieve that is to ensure that big companies operating in the economy made their shares available for Nigerians to invest in and benefit. He said that he had discussed with MTN during one of his visits to South Africa on the need to list their shares on the NSE. “When I met with MTN in South Africa, we discussed the need for them to list. We are working hard to make sure that companies that are supposed to list do so. That is the only way the Nigerian capital market and economy can grow so that Nigerians can participate. Definitely, if you take the power companies, as they grow bigger, they will list,” he said. The president added that after a proper study of the situation, the government would come up with the guidelines for the listing. “We will certainly come up with guidelines in that regard. It is only proper to study something and meet with technical experts before coming out with the final pronouncement on it. But we will definitely encourage most of these companies to list and make it a condition for them to benefit from government; in some areas you must do certain things properly. So, I believe we will give you what you want,” he said. Jonathan gave assurance to stockbrokers and executives of listed companies that the government would continue to partner the private sector and hands off the management of business in order to solely face the provision of an enabling environment for businesses to thrive. “We will continue to partner the private sector. We are moving away from where government used to be the best manager of companies and best investors to area where the government will create the enabling environment for the private sector to manage the economy,” he stated. Conclusion In as much as the Federal Government’s planned intervention is a welcome development to get key enterprises quoted listed, the NSE on its part needs to speed up its evolution process and become more like its counterparts in other economies in the world by adjusting its business and economic models from being only a source of raising capital for listed firms to one that creates economic linkages in the resident country, thus becoming a vehicle for infrastructural development, job creation and economic benchmarking through its internationally benchmarked market segments.

Business | Money

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

Rand Merchant Bank eyes universal license INDISPENSABLE

Nigeria is key to S’African banks’ growth Tony Chukwunyem

with agency reports

irstRand, which commenced operations in Nigeria in 2013 through its subsidiary Rand Merchant Bank plans to convert its merchant banking license to a universal one, New Telegraph has learnt. Ernest and Young’s African financial services sector leader, Emilio Pera, who said this also said that any South African bank planning to expand in the rest of Africa would need to have a presence in Nigeria for such an operation to contribute significantly to its bottom

line. According to a report on the online edition of BusinessDay South Africa, Pera said that setting up successful operations in Nigeria, the biggest economy in Africa, is the first prize for South African banks chasing growth. The report noted that Standard Bank is the only South African bank with a full Nigerian banking operation, which it has grown organically. Its unit in Nigeria, Stanbic Bank Nigeria Ltd merged with IBTC Chartered Bank in 2007 to form Stanbic IBTC Bank. It disclosed that Nedbank, another of the big five South African banks, gained access to Nigeria through its 20 per cent stake in Ecobank Transnational Incorporated (ETI) acquired last year. Last month, Barclays Africa Group Ltd.’s cor-

porate and investment banking unit announced that it had approached Nigerian authorities for approval to convert its representative office to a fully fledged business in the continent’s biggest economy. The bank has been increasing its staff in Lagos in preparation for receiving the license. Agency reports quoted Head of Corporate Affairs and Investment Banking for outside of South Africa for Barclays Africa, Temi Ofong, as saying: “We have an ongoing strategy to expand our footprint and we have formally engaged with the authorities in Nigeria to apply for licenses.” He disclosed that Barclays Africa unit’s representative office has been expanded to have a staff of 20. “These include investment brokers and a trade finance team of

four people out of Lagos,” Ofong said. The International Monetary Fund (IMF) expects Nigeria’s economy to expand by 4.8 percent this year, more than twice as fast as South Africa’s projected 2.1 percent. However, lower commodity prices, particularly that of oil, are expected to put pressure on the economies of Nigeria and Angola. This could hamper banks’ efforts to grow. Kagiso Asset Management investment analyst Jihad Jhaveri said Standard Bank faced “significant macro headwinds in many of the commodityfocused countries they operate in, such as Nigeria and Angola.” He said that this year “will be a much tougher year in Africa for them but the significant experience they’ve built up and investments they’ve made, means they should

navigate better than their peers.” The South African economic environment was expected to remain “challenging” this year, while the rest of Africa would also face difficulties, including elections in some jurisdictions. This would put pressure on the banks as consumers will remain under pressure and operating environments could

be volatile. The lower commodity prices could affect projects across Africa, drying up revenue for investment and corporate banking in commodity producing countries. Those banks with the most diversified portfolios are probably best positioned to grow in this difficult environment, said Pera.

AGF to boost Africa’s SMES with $500m

he Africa Guarantee Fund (AGF) has said that it plans to extend financial guarantees to Small and Medium Enterprises (SMEs) in Africa to the tune of 500 million US dollars in the next five years. AFG chief executive officer Felix Bikpo said the aim is to help at least 20,000 SMEs graduate into large businesses in the medium-term. “The guarantees will be given to the banks and micro-finance institutions that lend money to the SMEs,” Bikpo said. Bikpo said that financiers usually regard SMEs as being “very risky” to

lend money to. “AGF will pay up to 50 percent of the money lent to SMEs in case of a default,” he said. The CEO said the SMEs in Africa have not fully played its economic role, and their development could help the continent overcome its growth challenges. “Asian countries such as India, Indonesia, China, Malaysia, and South Korea have grown their SMEs sectors, which contribute between 70 to 90 per cent in employment and an estimated 40 percent to their respective Gross Domestic Products,” he said.

New Development Bank may replace IMF

A Executive Director Corporate Banking, Keystone Bank Limited, Mr. Hafiz Bakare, Senior Technical Assistance to MD, Keystone Bank Limited, Temitayo Olutoye, Principal, Isolo Junior Secondary School, Mrs. Anthonia Adekemi, JSS 3 Tutor, Mr. Oke Olarewaju, Divisional Head, Festac Region, Mr. Emmanuel Ntomchkwu, Teacher Isolo Junior Secondary School, Mr, Oyelade and the Schools prefects, during a financial literacy programme at the School in Lagos.

AfDB approves Gates Foundation’s $2.4m Trust Fund

he Board of Directors of the African Development Bank Group (AfDB) has approved the establishment of the Bill and Melinda Gates Trust Fund to be hosted by the Bank. In a statement posted on its website, the AfDB said that the Fund’s US $2.4 million initial contribution will support progressive initiatives on the issue of concessional finance in development by anAfrican Development Fund (ADF) Policy Lab. It would also support other future Bank activities.

According to the statement, it is the first bilateral fund with a non-sovereign entity and the first bilateral fund with the Foundation aimed to provide structure to the long-standing collaboration with the Bank and scale up areas of intervention. The Bank currently manages about 39 trust funds, most of which are depleted. It also intends to engage in strategic partnerships to disseminate knowledge and lead new policy initiatives. The ADF Policy Lab will complement the Mid-Term

Review of the ADF, which is the pool of concessional resources dedicated to less endowed Regional Member Countries. The Bank has been involved in multiple interactions with the Gates Foundation. In 2011, the Foundation contributed US $12 million to the African Water Facility (AWF) to support sanitation services to some of Africa’s urban poor. It also contributed $15 million towards implementation of the Action Plan for improved statistics for food security in Africa in 2013.

new Development Bank established by the BRICS (Brazil, Russia, India, China and South Africa) nations could be set to replace the International Monetary Fund (IMF) when it begins operations by the end of this year, according to Russian news agencies. The BRICS countries set up the new organisation as an alternative to going to the IMF for funding for investment projects in the participating countries. Apart from supporting the economies of the five countries, analysts also see the new bank as a counterbalance to the World Bank and other creditors. The idea to set up the financial institution was first discussed at a meeting of the BRICS countries during the G20 summit in 2012. The issue and its political and economic importance in the world were again widely discussed in the summer of 2014. According to analysts, the BRICS Development Bank has good prospects because developing coun-

tries will continue to be accepted as new BRICS members. For instance, a fortnight ago, the Russian Foreign Affairs Ministry, Coordinator of the Group of 20 and BRICS countries, announced that Argentina, Mexico, Nigeria, Indonesia and several other countries had already announced their readiness to join BRICS. Commenting on prospects for the new bank, a Russian expert, Vladimir Rozhankovsky, said, “I do not think it will be big competition for the IMF, as the IMF, as a rule, does not finance structural projects. It does not fund separate business projects. The IMF is a sovereign structure. The IMF, as we know, comes to the rescue when the entire financial system of this or that country is standing on the verge of collapse of great difficulties. Yet, the new banks of the BRICS countries will be a good replacement to the European Bank for Reconstruction and Development ( EBRD), the activity of which has died away during the recent years.”

Business | Money

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

2014 FY results may point to banks’ resilience Tony Chukwunyem

peculation about how seriously the oil price slump, devaluation of the naira and uncertainty surrounding the general elections are impacting the banking industry has been rife in recent times with reports emerging of several lenders adopting or planning to introduce cost-cutting measures, including job cuts. It was thus clearly in a bid to douse growing concern in some quarters that the situation poses a grave threat to the nation’s banks that the Central Bank of Nigeria (CBN) issued a statement penultimate Sunday, affirming that the industry is healthy. Citing the results of top-down stress tests it recently carried out on Deposit Money Banks (DMBs), the apex bank emphasised that lenders in the country have adequate capital to absorb unexpected losses. The CBN’s statement said: “Following the recent top-down stress tests of Deposit Money Banks carried out, the CBN re-affirms that the banks have adequate capital to absorb unexpected losses.” The statement recalled that the International Monetary Fund, (IMF) in a report on March 4 on the outcome of the Executive Board 2014 Consultation with Nigeria, commended CBN for ensuring financial system soundness. Perhaps, more significantly, the regulator also pointed out that the unaudited results of banks and the results released so far indicated that economic headwinds had not significantly affected their returns. Zenith, GTBank set the pace Indeed, the first two banks, Guaranty Trust Bank (GTBank) Plc and Zenith Bank Plc, to announce their 2014 results seem to have performed better than some industry analysts had predicted. For instance, Zenith Bank grew its gross earnings by 14.76 per cent to N403.3 billion, up from N351 billion recorded for the previous year. Interest Income grew by 15.9 per cent, from N272 billion to N313.4 billion, while non-interest income rose by 39.1 per cent to N90.1 billion. The first tier lender’s Profit Before tax (PBT) increased by 12.8 per cent from N106 billion to N119.8 billion, while Profit After Tax (PAT) for the year rose by 8.6 per cent, from N91.5 billion to N99.5 billion. Similarly, GTBank grew its gross earnings by 14.8 per cent to N278.5 billion, from N242.7 billion recorded in 2013. Interest Income rose by 8.2 per cent from N185.4 billion to N201 billion, while interest expenses surged by 20 per cent from N48.4 billion to N58.2 billion. The bank’s PBT increased by 8.7 per cent from N 107.1 billion in 2013 to N116.4 billion last year, while PAT rose by 9.6 per cent from N90 billion to N98.7 billion. The story was also not too different for another first tier lender, Access Bank, which announced its 2014 full year results

CBN Governor, Godwin Emefiele

GTB MD, Segun Agbaje

last week. The bank reported an increase in gross earnings by 18.5 per cent to N245.2 billion. Net Interest Income went up by 29 per cent to N100billion, while PAT increased by18 per cent to N42.9billion from N36.2 billion reported for the previous year. CRR hikes and other headwinds Although, most banks are yet to release their 2014 full year results, the performance of Zenith Bank and GTB may have surprised analysts who had predicted a generally muted performance for the industry for last year because of regulatory headwinds introduced by the CBN in its efforts to stabilise the exchange rate and curb inflation. Specifically, following flat results announced by banks for the first half of 2014, international financial and investment advisory firm, Renaissance Capital, had issued a special report entitled, “The Cost of Macro Stability”, which said Nigerian banks were not performing as well as their counterparts in sub-Saharan African because they had been hindered by CBN’s policies. The Rencap report stated, “From a macro perspective, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) under former Central Bank Governor, Lamido Sanusi, was focused on exchange rate stability and low inflation. To achieve this, the MPC used a combination of measures, including hiking the Monetary Policy Rate (MPR) and the Cash Reserve Ratio (CRR), tightening banks’ net open position limits and introducing multiple operational measures to keep the exchange rate in check.” The report further listed other regulatory constraints Nigerian banks were facing to include the Asset Management Corporation of Nigeria (AMCON) levy, which is computed at 0.5 per cent of DMBs’ assets, including 0.5 per cent of 33 per cent of specific off-balance sheet assets (largely bankers’ acceptances and commercial paper). The CBN and the banks agreed that the levy was necessary to fund any shortfalls from AMCON’s Non-Performing Loans (NPL) recovery efforts,

Zenith Bank CEO, Peter Amangbo

which should be used to repay its obligations on the bonds issued. According to the report, although these measures helped the regulator to achieve its goals during the period as inflation remained in single digits and the naira suffered marginal decline, they resulted in Nigeria banks facing significantly higher earnings constraints than their Sub Saharan African counterparts. “Nigerian banks have significantly less room to generate FX trading income, given their much lower net open position limits…. on the cost front, the AMCON levy will keep growing as banks total assets grow, for at least the next eight years to 2022,” the report said.

There is no doubt that the impact of AMCON has made banks very profitable

Benefits of the reforms The feeling in industry circles at the weekend was that if banks could still grow earnings and remain profitable in 2014 in spite of the formidable regulatory headwinds they had to contend with, they equally have a good chance of weathering current challenges triggered by the oil price slump and uncertainty over the elections. In a chat with New Telegraph, a financial analyst at Rimack Consulting, Mr. Henry Ogunbor, argued that banks were able to record profits in the face of the regulatory headwinds because, the reforms introduced by the apex bank under the leadership of its former Governor, Sanusi, have made it to be able to regulate and supervise the industry more effectively. He said: “Ordinarily, if banks don’t take excessive risk, they may not report the kind of eyecatching profits we usually see them reporting, but then they are not likely to get into trouble either. Sanusi realised this and that is why under him the CBN, for instance raised minimum capital thresholds and prescribed a 5 per cent NPL ratio limit for the industry. Unlike pre 2009 when owners of banks were lending to themselves and their friends and accumulating huge toxic loans, the situation is different today as banks are aware that the CBN will quickly step in if they exceed their lending threshold.” He also noted that although

the establishment of AMCON to acquire NPLs had helped to clean up banks’ balance sheet, the payment of the AMCON levy will be a constant reminder to the industry of the pain that reckless lending can bring. Interestingly, responding in a chat with a national daily to a suggestion that the setting up of AMCON and CBN policies were hurting banks’ profits, AMCON’s Chief Executive Officer, Mustafa Chike-Obi, said, “In 2010, banks profit was negative. In 2011 after AMCON came in, banks’ profits were marginally profitable. In 2012, they were profitable; 2013, they were very profitable. In 2014, they will remain very profitable. There is no doubt that the impact of AMCON has made banks very profitable. Without AMCON, most of those banks would be dead. They would neither be existing nor operating today.” He further stated: “As for the CBN policies, what they are doing will make the banks very profitable. They don’t want them to make money here and something happens and they crash down to zero. So, what the CBN is doing is to make them have sustainable profit. It is not that they will make 30 per cent this year and down to 20 per cent next year. All they are trying to do is to create a sustainable banking industry. Sometimes, these policies may appear as if they are slowing down profit but in the long run, they will all be good for it.” More headwinds in 2015 However, analysts are predicting that 2015 will be more challenging for banks than last year. For instance, commenting on GTB’s latest result, analysts at FBN Capital Limited, said: “The PBT came in ahead of consensus full year PBT forecast of N109 billion. Given that the positive surprise in the results was driven by non-interest income (and in particular foreign exchange trading), we do not expect much of the surprise to be carried forward as far as consensus forecasts are concerned. More importantly, these results do not yet reflect the fallout from the worst of the marked decline in oil prices.

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

Maritime

Vehicle importation drops at Tin-can port – Customs p.36 The Nigerian Ports Authority (NPA) is worried that its facilities in Lagos are habouring illegal tenants who have no business at the various terminals, BAYO AKOMOLAFE reports

wo years after, the Nigerian Ports Authority (NPA), has served another quit notice to squatters lodging and operating illegally within the Lagos Port Complex (LPC) in Apapa. Illegal users Some of the illegal port users, who claimed to be providing services to agencies, are hawkers, touts, food sellers, hustlers and outright thieves. They gain access into the terminals after bribing their ways through the porous gates. Reasons for quit notice The LPC Port Manager, Mr. Nasir Mohammed, said that the warning became necessary due to the security challenges country is facing. He explained that the port remains a security facility and cannot accommodate people without legitimate business. Mohammed noted that the

Nigeria, others export 9.9m tons of fish to UK p.37

NPA moves to eject squatters from Lagos ports security assessments of the port had revealed that some squatters and other unauthorised persons, for any reason, still found their ways into the port. Past record This is not the first time the authority would raid the ports. In 2013, 38 illegal port users were arrested by policemen at the Tin Can Island Port (TCIP) in Lagos. The team was drawn from the Ports Authority Police Command (PAPC), the Lagos State Police Task Force Unit and a detachment of the Police Mobile Force (PMF). Three weeks later, 64 suspected miscreants were nabbed while loitering around the port’s corridor. The former Commissioner of the Port Authority Police Command, Mrs. Sherifat DisuOlajoku, who had expressed displeasure over the attitude of the miscreants, said that the exercise would be a continuous one. She said: “When I assumed duty, I observed that people just wake up and head to the ports even when they have no business doing there. They loiter

around the port premises and constitute security risks to the system. We will no longer tolerate such acts. We will carry out these raids from time to time and it will be a regular exercise until we rid the port premises of undesirable elements.” However, the exercise was abandoned until recently, when NPA issued another threat. Agencies’ intervention Mohammed said: “Now, we have identified them and what they are doing. Some of them claim to be responsible for providing services to some of our sister agencies in the port. “We have written to Immigration, Customs and other agen-

cies inside the port, drawing attention to the fact that such persons are not acceptable to remain inside the port. “Also, we have written to the Area Commander and the Divisional Police Officer (DPO) of Apapa Port as well, drawing attention to the existence of some of these persons, who, in some cases, they harbour around their offices.” Mohammed added that a combined team of agencies operating at the port would carry out the ejection of the illegal occupants. Expert’s advice The Port Facility Security Officer (PFSO) at the Port and

Terminal Multi-services Limited (PTML), Mr. Oscar Aliu, had said that if the common user areas are left unchecked, the port complex would be porous. He urged the Federal Government to fence off the Tincan Port complex from the road, if it was serious about ending touting and securing the port. Aliu noted: “If it is done, the issue of touting will be minimised because there are a million and one ways to access the Tin Can Port and until the facility is fenced away from the road, it will keep operating the way it is and FPSOs can only do their best to resist security breach in their environment.”

NIWA partners Lagos private ferry operators

he National Inland Waterways Authority (NIWA) has partnered Seacoast Ferry Service to alleviate the suffering of Lagos residents. Already, the authority said that Seacoast had deployed nine boats in Lagos waters, adding that about 15 would join soon. It explained that institutional support necessary would be given to ferry operators in order to achieve their objectives and promised to make the inland water transportation busy and safer for Lagos residents. NIWA’s Lagos Area Manager, Mohammed Sambo, disclosed this at the official commissioning of Seacoast Ferry Service in Lagos. Sambo said that with over six million people traveling daily in Lagos to either their work places or around the city, water transportation remained the best option, adding that the business of NIWA was to develop inland waterway transport in Nige-

ria as the fourth mode of transportation, which is the least developed in the country. He said: “Our job is to make inland waterway transport as busy as possible and within a period of less than three days it (Seacoast) has our approval to operate ferry at our terminal at CMS, Victoria Island and Ikorodu. Sambo also said that NIWA was doing everything possible to ensure the clearance of water hyacinth on the waterways. “One of the major problems affecting water transportation in Nigeria is water hyacinth and NIWA has, every year, decided to deploy its water hyacinth clearing machine with the purpose of clearing water hyacinth from our waterways and make water transportation as easy as possible.” He said that NIWA was operating nine boats, noting that before the end of the year, the authority would acquire additional 11.

MV Tasinge Maersk positioned to discharge cargo at the port.

Group warns members over sharp practices at port

hippers Association of Lagos State (SALS) has cautioned Nigerian impoters against sharp practices in the port sector. SALS said that it would not protect anyone caught by the Nigeria Customs Service (NCS) for anti-trade practice in the port. President of the association, Rev. Jonathan Nicol, said in Lagos that his executive had resolved that those who engaged in corrupt practices would forfeit their cargo. He advised importers to make honest declarations and

comply with the laws of the land. He noted: “If any importer brings in contraband goods, such person will forfeit his or her cargoes; which is enough punishment for the importer. The Nigeria Customs Service has the right to impound such goods following government’s directive.” Nicol added that honesty remains the most reliable road for ensuring a win-win situation between the Customs and the shippers. The president also urged the Federal Government to es-

tablish a Maritime High Court within Apapa, Lagos, to facilitate trade. He said that it would enable stakeholders do the right business at the right time. Nicol said: “I am calling for the establishment of a Maritime High Court in Apapa area. You know we have a Federal High Court. So it will be the Federal High Court to be established within the maritime environment, precisely, within Apapa, because that would help all stakeholders to resolve their protracted disputes quickly since it has to do with revenue.”

Business | Maritime

POOR SERVICE Agencies unable to create enabling environment for efficient port operations Stories by Bayo Akomolafe

he Chairman of Seaport Terminal Operators Association of Nigeria, Dr. Vicky Haastrup, has said that ships are being endangered at the quayside over irregular sweeping of the habour bed.

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Ships face hazard at port over irregular habour bed

Speaking in Lagos during the port compliance conference organised by the Nigerian Ports Authority (NPA), she said that there had been inadequate provision of pilotage facilities, which had reduced berth occupancy/utility rate. Other challenges, according to her, include insecurity of vessels at the anchorage and water

front of the harbours; Customs delay of ship on arrival; inconsistent cargo release processes in the terminal and its associated delays when goods had been duly released and cleared in line with the ASYCUDA++ concept. Also, Haastrup explained that the nation’s port still face the problem of aged vessels with archaic handling

facilities calling at the terminals; inadequate transport network and road traffic congestion. Other challenges listed include delays attributed to importers and freight forwarders in the evacuation and delivery of cargoes due to inadequate warehousing logistics and problems associated with finance; incessant removal of management

in the maritime industry based on political patronage rather than professional considerations, thereby hindering policy implementation continuity, in line with international best practice; reluctance on the part of a few concessionaires to fulfill their statutory obligations, including development plans. She listed other con-

straints to include: “Diversion of vessels from other terminals and ports to a particular terminal/ port thereby creating monopolistic environment; inability of the supervising agencies in creating enabling environment for efficient port operationscreating monopolistic environment; host community restiveness and shanty villages within the ports environment; arrest of vessels at berth and attendant consequences; poor power generating system; intermittent ASYCUDA++ connectivity failure and frictions among maritime statutory agencies due to overlapping functions and poor implementation of cabotage regime. Other problems are lack of national carrier capacity for the United Nations Conference on Trade and Development (UNCTAD) 40:40:20; over demand on road transport facilities; lack of central truck holding-bay in the port as all spaces were concessioned; concentration of tank farms in the port environment, which has constituted serious security threat to lives and property thereby, precipitating imminent crises.”

Vehicle importation drops at Tin-can port – Customs

he Nigeria Customs Service, Tin Can Island Command, has said that vehicle imports has reduced at the Tin-Can Island Port in Lagos Public Relations Officer of the Command, Mr. Chris Osunkwo, explained that the Command had witnessed low imports since the beginning of the year. He noted that those who sent cars to their families were no longer doing so, rather, he said that such people had resorted to using the “Western Union Money Transfer,” adding that this had affected importation of used cars. But, Osunkwo said that the low vehicle imports had not adversely affected the revenue of the Command, disclosing that there are many sources of revenue for government. According to him, officers that were technically sound were managing strategic positions and they have been collecting maximum revenue for government.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

NPA scores three concessionaires low PENALTY Concessionaires may face sanction over poor service

Stories by Bayo Akomolafe

he Nigeria Ports Authority (NPA) has awarded low marks to Tincan Island Container Terminal (TICT), Five Stars Logistics and Brawal for their poor performances in the port. NPA, however, gave pass mark to AP Moller Terminal

Apapa Limited and ENL Consortium Limited. Already, the Minister of Transport, Senator Idris Umar, at a conference organised by the Nigerian Ports Authority (NPA) in Lagos tagged ‘Monitoring and compliance the experience of compliance with concessioning agreement eight years after,’ had directed the authority to furnish his office with detailed reports of the concessionaires’ performance, especially, those who are yet to comply with the concession agreement. The minister, who gave a breakdown of concession-

Customs train NAFDAC officials

he Nigeria Customs Service (NCS) has trained some personnel of the National Agency for Food, Drug Administration and Control (NAFDAC) to fasttrack its automation programme at port. NSE also donated 50 computers to the agency. Comptroller-General of Customs, Alhaji Dikko Abdullahi, who presented the computers to the Director-General of NAFDAC, Prof. Paul Orhii, in Abuja, said that the donation was to strengthen the partnership between the two agencies. He said that NCS had offered similar assistance to the Nigeria Immigration Service. Abdullahi noted: “We have found out that apart from the training, we have to help them with equipment in order to facilitate trade. “What we are doing is to strengthen them in order to key into Mr. President’s Transformation Agenda whereby we have been given 48 hours within which to clear goods. “But what we are hoping to achieve is six hours. So with NAFDAC, which has most of the drug, food administration bestowed with other responsibilities. “I believe that having them on our side will help us to achieve what we want to achieve.” Adullahi explained that

before training the officials of the agency, customs had trained some Immigration officers as well. He stressed: “The only thing is that we did not celebrate it and any other agencies that we feel also needs this type of assistance apart from training we have to do it. “Why we have to do it is because clearing of goods in the shortest and fastest way will help reduce the burden on the consumers and at the same time it will increase the traders’ turnover.” Abdullahi added that the service was ready to assist other agencies with similar needs. Responding, Orhii said that the computers would help ease the agency’s inspection efforts aimed at identifying fake drugs and unwholesome foods. He said that NAFDAC had keyed into the service’s Automated System for Customs Data (ASYCUDA) system, which is a data collecting system evolved by the Nigeria Customs, to facilitate cargo clearance process in the nation’s ports. Orhii further said that some of the computers would be used to implement the ASYCUDA programme while others would be used in the laboratories and offices of the agency.

Nigeria, others export 9.9m tons of fish to UK

ot less than 9.9 million tons of fish is being exported to the United Kingdom annually from Nigeria and other countries in the Gulf of Guinea. According to the New Partnership for Africa’s Development( NEPAD) and the African Union Inter-African Bureau for Animal Resources (AU-IBAR) report, it is estimated that unregulated or unreported fishing costs $1.3 billion annually. The country remains Africa’s biggest fishery customer. It was learnt that the continent’s fishing around the African coast was not only under pressure, but also unregulated due to lack of consistency, cost efficient supply chains and infrastructure in the continent. The report said: “If Africa can improve the management

of its fisheries, the industry can achieve resource rent (the difference between cost revenue derived from the resource and the cost of fishing) of 40 - 70 per cent. “The entire fisheries was approximately $22 billion. Africa can scale this to $3.81 billion per annum if the marine industry is well managed and regulated to international standards. “We have a consistent problem of too many fishing vessels and too little data about the current stock levels per region and the uptake from the sea to market ratio that occurs annually.” The report explained that Africa accounts for just 4.9 per cent of the global fishery trade.

aires equipment acquisitions said that AP Moller Terminal Apapa Limited had acquired 245 units, Ports and Cargo 161 units, ENL Consortium 138 units. He noted that the TICT had only 61 units, the Five Stars only 37 units while the Brawal had none. Umar, who was represented by the Executive Secretary of the Nigerian Shippers’ Council (NSC), Mr. Hassan Bello, also assured that if non compliance attracted no sanctions in the past, it would no longer be treated with kids glove, stressing that the Federal Government introduced ports concession so as to improve efficiency in port operations. He posited that the port reform was meant to reduce the cost of port services and promote competition in provision of port services. He said that it was, however, yet to achieve its cardinal purpose of making Nigerian ports the hub for international trade and

shipping in West and Central Africa sub-regions. He said: “The concession has brought us increase in local and foreign investments in infrastructure and cargo handling improvement which has increased cargo throughput by volume of trade. “Prior to concessioning of the ports in 2006, our ports were characterised by high cost, low efficiency, obsolete equipment, leakages and high level of centralisation. “But since concessioning, there had been increase in both local and foreign investments, in infrastructure and cargo handling equipment, which enhanced cargo throughput.” The minister added that the benefits of port concession could be seen in the rise in volume of trade from 82 million tons of cargo in 2008 to 93.7 million tons in 2009 and 100 million tons in 2012 with container volume of 1.4 million Twenty Equivalent Units (TEU) in 2011; 1.6 million TEUs in 2012 and 1.7

million TEUs in 2013. He said: “The average turnaround time of vessels has also decreased significantly. “The outcome of the reform made NPA a landlord and technical regulator while the ports were delineated into terminals and concessioned to terminal operators who are now responsible for all aspects of cargo handling, operations and upgrade of facilities.” While stating that a lot more work needs to be done in monitoring compliance with the port concession agreement, the minister directed NPA to furnish him with current compliance status by the operators. “I urge you to take advantage of this forum aimed at ensuring compliance with the terms of the port concession agreement to deliberate on the gains and challenges of concession, share ideas as well as brainstorm on the way forward in order to further develop the industry to stimulate economic growth,” the minister added.

Idle cranes rusting away at the Calabar Port Complex.

Liner extends US service to Nigeria, others BUILD UP Shipping line strengthens its footprint in W’ African trade

ultipurpose shipping line, Safmarine MPV, is expanding its United States project cargo, break-bulk and container services to Nigeria, Ghana, Togo, Benin, Congo and Angola, as well as other ports in the West and Central Africa. According to its Managing Director, Mr. Jorg Knuttel, the USA-WAF service southbound had been part of SafmarineMPV’s strategy. He said that the service

would include regular ports of call in Houston, Tin Can/ Lagos, Onne, Pointe Noire and Luanda/Sonils, with the option for ad-hoc inducement calls to handle special project cargoes in other West African ports. He explained: “The first step was to move key staff and responsibilities from Antwerp to Houston to strengthen the US organisation. This we did in August 2013. “The next step was to strengthen our footprint in the West African trade. This we’ve achieved with today’s announcement of the southbound extension of our USA – West Africa service.” Knuttel noted that the shipping line transports Liquefied Natural Gas (LNG) Gas Compression Tanks des-

tined for one of Nigeria’s Oil & Gas Projects. Also, the company’s Commercial Director for the USA-WAF service, Mr. Randy Jameson, said: “Our expansion into the southern range of western Africa is in response to the growing needs of our customer base that require faster transit times and direct sailings to the key ports in the region. “We’ve discussed this service extension with a number of key customers active across various end-markets and their response and initial cargo support has been very positive.” The new service would commence with MV Safmarine Linyati 15002, departing Houston on March 26 and would offer a monthly frequency.

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

L-R: Mrs. Bola Obasanjo; wife of the governor, Mrs. Olufunso Amosun; former President, Chief Olusegun Obasanjo; Ogun State Governor Ibikunle Amosun and Speaker, Ogun State House of Assembly, Rt. Hon. Ishola Suraj Adekunbi, during the annual National Summit and Obasanjo’s 78th birthday celebration in Abeokuta.

L-R: His Royal Majesty, Obi of Onitsha, Igwe Nnemeka Achebe; Anambra State Deputy Governor, Dr. Nkem Okeke; Governor Willie Obiano and his wife, Ebelechukwu, at the pontifical mass to commemorate the governor’s one-year in office held at the Governor’s Lodge, Amawbia.

L-R: Coordinator, South - West zone of Atiku Abubakar Support Group, Hon. Bode Ajewole; Governor Olusegun Mimiko; Ekiti state Coordinator of the group, Dr. Olajide Akinyemi and Mrs.Yemisi Ige, at a meeting of members of the South - West zone of Atiku Abubakar support group and Peoples Democratic Movement, to endorse the re-election bid of President Goodluck Jonathan in Akure.

L-R: Chairman, National Human Rights Commission, Prof. Chidi Odinkalu; former Rivers State Commissioner for Justice, Mrs. Ranti Bosede Daudu and president, Civil Rights Congress, Comrade Shehu Sani, during the presentation of Political Rules and Regulation to Daudu in Kaduna. PHOTO-NAN

Photo | News 39

Chief of Army Staff, Lt.-Gen. Kenneth Minimah (middle), with the participants, at the first quarter of Chief of Army Staff Conference in Abuja.

L-R: Wife of Kwara State governor, Mrs. Omolewa Ahmed; wife of APC presidential candidate, Hajia Aisha Muhammadu Buhari; Kwara State Governor, Dr. Abdulfatah Ahmed; wife of APC vice presidential candidate, Mrs. Oludolapo Osibajo and wife of former governor of Kwara State, Mrs. Oluwatoyin Saraki, during a courtesy visit to the governor in Ilorin.

Rivers APC Chairman, Mr Davies Ikanya (left), with Governor Chibuike Amaechi, at a news conference on the state of the nation in Port Harcourt .

Chief Executive Officer, CMC Connect Burson-Marsteller, Nigeria, Mr. Yomi Badejo-Okusanya; Chairman/ CEO, Burson-Marsteller, Africa, Mrs. Robyn de Villiers and immediate past president of the Association of Advertising Agencies of Nigeria (AAAN), Mrs. Bunmi Oke, at the unveiling of the new brand identity of CMC Connect Burson-Marsteller in Lagos. PHOTO: SULEIMAN HUSAINI

40 Politics PAT UCHE OKPOKO writes on the leadership qualities of former Governor of Anambra State, Mr. Peter Obi

WEDNESDAY, MarCh 18, 2015 NEW TELEGRAPH

Celebrating Peter Obi’s legacies

eadership is the pivotal element in any development equation. Whether for a small unit, conglomerate or geo-political entity, the quality of management will largely determine the nature and extent of progress [or regress] attained. A visionary and focused leader would guide his people forward, while the one with clouded purposes would become a nightmare for the citizenry. Governance is not some cryptic expression, but a series of processes which generates a range of outcomes – from the positive to the negative. In an environment long bereft of quality leadership, it is always refreshing to celebrate the few who have excelled. That way, we can assure ourselves that all is not lost for our dear country. About a year ago, mid-March 2014, Mr. Peter Obi, concluded his second term as Governor of Anambra State in South-East Nigeria. Easily more than most other state chief executives, his tenure had witnessed an amazing mix of travails and giant development strides. All through his campaign for the 2003 governorship elections, his primary poser to the people of the state was: “Is Anambra cursed or are we the cause?” As he traversed the length and breadth of the state, he contended that Anambra was not under any curse; but that it was the people themselves who had to rescue it. Increasingly, the people regained their faith in God and their self-worth, and gave him their support. Even when he was rigged out his deserved victory in favour of Dr. Chris Ngige, nobody heard him criticizing the incumbent on any of his decisions. When some vital state assets were burned down, he promptly condemned the act, and urged Ngige to stay focused on governance. In the meantime, he calmly adopted due process to regain his mandate, which he got some three years later. Illegally impeached but restored to office in his first term, Governor Obi demonstrated unusual magnanimity to his orchestrated traducers. Among others, he insisted that the offending House of Assembly Speaker [Hon. Balonwu] be retained, against the wishes of majority of the legislators, executives and citizenry. That is the man of faith, Peter Obi. Mid-way into his tenure, he further shocked the nation and Anambra watchers when he informed a group of civil society organisations (CSOs) that his administration had commenced a comprehensive savings plan. Many of us were sceptical; what with the massive development projects he had embarked on even as the state was not an oil-producing area with the benefit of oil derivation funds. As if that was not enough, just before the end of his tenure, Governor Obi announced to a stunned audience that Anambra State had accumulated savings to the tune of N75 billion – denominated into assets as well as local and foreign currencies. The audience, not one

Obi

to be toyed with, included former Commonwealth SecretaryGeneral, Chief Emeka Anyaoku; Finance Minister, Ngozi OkojoIweala; heads of churches in the state, CSOs and media executives. A recent inquiry with a senior banker revealed that the foreign currency savings bequeathed by the Obi administration, which was $156, 000 million then (variously in Fidelity Bank $56 million; Access bank, $50 million; and Diamond Bank, $50million]), which he presented publicly in the presence of the referred Banks CEOs, has with interest appreciated to about $171,500,000. A curious enquiry at the Bureau D’Change showed on their board that the exchange rate is now N228 to the dollar. With the above exchange rate, the money now stands at approximately N39 billion. This excludes the local currency and assets components of the savings. If one follows the same calculation, it will now amount to about N100 billion, without putting into consideration additional savings from his successor, Willie Obiano, which I believe that based on his electoral promises has continued the savings culture. At a time various states in Nigeria are saddled with huge debt profile, unpaid salaries and other monetary obligation, Nigerians should celebrate this outstanding vision, commitment and sacrifice for our dear country by Mr. Peter Obi. He should be honoured for this singular act, as I have never heard in this country, of any Nigerian leader bequeathing to his successor savings. All we hear is huge debt profile. Not to talk about savings in foreign currency, that is over 15 per cent of the entire countries Sovereign Wealth Fund (SWF). Many Nigerians have wondered why he left so much for his successor and did not simply retire it in sync. With the greedy venality of the generality

ANIDS is truly a study in commitment to meaningful development... On this integrated platform, Peter Obi aimed at several targets and scored many direct hits

of the political class. But again, is the man of vision, Obi. In the first instance, he invested in institutional structures, encompassing the Executive, Legislature and Judiciary – empowering them to perform their roles effectively. The outcomes included generating master plans for three major cities [Awka, Onitsha & Nnewi]; instilling transparency in the conduct of government business; strengthening the infrastructural base of the state [Anambra was acknowledged as having the best & most extensive road network in the country]; waste and emergency management, housing development; concrete support for primary, secondary and tertiary healthcare and educational services, and many others. The Obi administration firmly rooted the youth with the Anambra State Youth Re-Orientation & Empowerment Programme [ANSYREP]. Incorporating character development and vocational training, the scheme has boosted the basic industriousness of the people to grow cottage industries, among others. Similarly, he launched a Youth Employment Fund, with much emphasis on Agriculture and Agro-Business. The government provided the seed money, while individuals and private organisations have been making their donations to the Fund. Obi has since been utilising his extensive private-sector contacts to provide further opportunities for Anambra youths. In acknowledgement of the increasing role of ICT, his government collaborated with relevant organisations to inculcate ICT competencies in the state’s public and private sectors to enhance competitiveness and corporate governance. In effect, every Local Government Area of the state had a functional Microsoft Academy even as virtually all secondary schools

in the state were given computer equipment and accessories. Right from his first tenure, Peter Obi took on the hydra-headed challenges of insecurity and impunity. Under him, Anambra State became the second in the country [after Lagos] to launch a Security Trust Fund. In a comprehensive promotion of collective responsibility, he provided concrete support for security agencies, the state’s 177 autonomous communities and their vigilante groups. Edicts were enacted to indict traditional rulers who conferred chieftaincy titles on those “without day-time means of livelihood”, while the properties of known kidnappers and related felons were demolished. More telling, traditional rulers and PresidentsGeneral of communities experiencing frequent violent crimes were to be sacked and handed over to the Police for prosecution. Governor Obi stabilised basic education in Anambra State. He took the courageous decision to hand over more than 1,000 schools to their initial Missionary-owners; with the novel understanding that government will continue to cater to staff salaries, while the Missions will be in charge of general administration. Beyond these, he provided strong financial and other resources to tertiary institutions, including the state university, colleges of education, college of agriculture, schools of nursing and midwifery and even federalowned institutions, among others. Public and private health establishments also received regular boosts in funds, equipment and executive capacity. Governor Obi’s rationale for support to private health services was that those institutions catered primarily to indigenes of the state, like in the case of the private schools. Given the strategic place of agriculture, the Obi administration invested prudently to enhance activities and performance of the sector. Included here were provision of motorcycles, tractor services, implements, a range of inputs and agro-chemicals to farmers at subsidised rates. Capacity was also boosted with improved funding and expansion of the College of Agriculture, which now boasts of professional staff, modern hostels and laboratories. It is on record that he neither borrowed money from any quarters nor did he default in his state’s counterpart contributions on joint ventures. The first two-term Governor of Anambra State, Peter Obi has been acclaimed and honoured from within and outside the country. ANIDS is truly a study in commitment to meaningful development, with the human element taking centrestage. On this integrated platform, Peter Obi aimed at several targets and scored many direct hits. He should be celebrated as a veritable role model of good governance, to be emulated not just by incumbent governors, but by those aspiring to positions of public trust. He must be factored into the mainstream of national development to play greater roles in the management of public affairs. •Prof. Okpoko is of the University of Nigeria, Nsukka

Politics 41

NEW TELEGRAPH WEDNESDAY, MarCh 18, 2015

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

lour from me. Everybody warned me, both the Attorney-General, Commissioner of Finance and others because what they were seeing, I wasn’t seeing. This man will come to my face and dance. You see me eating at this table with over 100 people last night, but he is one staff I had who never ate on the same table with me for eight years. Why? Something was wrong. He was not sincere. All my commissioners, all my aides, all the people I worked with, speaker of the House, members of the House of Assembly, all of them ate on my table. What was his excuse? He will just come and say I don’t want to. He was pretending to be a good man. But I told the man that ‘your face looks like the face of a betrayer, that you will betray me one day.’ So, you see that I am not surprised. I don’t lose any sleep about him. He knows his reasons but I don’t know. Maybe what all these meaningless juju people tell him, it is all rubbish. It was when I left office that people started calling my attention to say you know we told you about this man. Maybe he was a humble person? You see, he tried to deceive people that he is humble. If there is a problem and that Jonathan is to be defended tomorrow, he will be the first to run away and I will stand by Jonathan. What I stand for, I stand for. If there is a little problem, he will do 180 degrees turn and I will stand. General Muhammadu Buhari is very close to me. He has slept in this house (Igbere country home in Abia) many times. If you go to that living room, you will see his pictures but I support Jonathan. If Buhari wins tomorrow that is his business, life continues because I will not have any regrets but people like Orji will be the first to somersault. All this loyalty he pledges to Jonathan will be zero and if we leave this state for him, he would lose it. Jonathan is very lucky that the three leading political parties in Abia are all supporting him. He will lose this election if he is banking on a savage like Orji. But Orji has strength in Aba…. I don’t want to talk about his strength in Aba. Let that strength be reserved for the people of Aba to decide whether he has strength or not. He [Orji] is also contesting for Senate? I wish him well, I can never go and campaign against him. He is competent to represent his people in the Senate. As an ex-governor, I will like to see him in the Senate as it will be more robust for our state and our people. What is your view about the coming presidential election? My view is very straight, it is going to be very tight and that is why we must work very hard. It is a tight race. Remember in September 2014, when Channels Television interviewed me, I said then that it would be balance of terror and many people in the PDP wanted to kill me. The issue in PDP is that most people lie to

Kalu

Orji can’t stand on my way, says Kalu themselves. I said nobody should think it is going to be business as usual because it will be balance of terror. When I came back to Abuja many of them were bashing me and saying that we have already won with 70 per cent, but I told them that you people are not reading the handwriting. It was then I told Nigerians that Jonathan has done a lot for Nigeria but that nobody was publicising it. To be sincere with you, they ostracised me and that statement also cost me the Senate seat because they believed that I was too vocal in telling them the truth. I am a very loyal person, ask people who had gone through me whether in business or politics. If I agree on anything with you, I will never go back. I may be losing or gaining, but I won’t go back. That is what loyalty is all about. I was very loyal to President Olusegun Obasanjo, very loyal. Ask him, forget about what you see in the newspapers. In every corner of President Obasanjo’s life he will remember all my discussions with him; they were for Nigeria. My discussions were on Nigeria, not Orji Kalu. It was the people, the people and the people. It wasn’t about me. I was very loyal to him because I was the odd man telling him what he never wanted to hear and today, the former President in Ogun State, when he wakes up will remember Orji Uzor Kalu. That’s me! I am a brand that nobody can take away. What is in my mind, I

speak; I speak the truth. Even with a gun and knife, I speak the truth.

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

I have left him for too long and this is the last opportunity I am giving him in his life... The governor is very incompetent, he is unreasonable, he is a liar and he is fraudulent

Do you think the president has a chance in winning the election? The president has a chance but the winning is not going to be a landslide. It is going to be a very tight victory. But I doubt what will happen in the National Assembly as the PDP may win one chamber and the APC the other and that is the balance of terror which I talked about. The president will win with two or three per cent. PDP is still the strongest brand in Nigeria, devoid of religion, tongue or anything, it is still the strongest brand in the country without religious, tribal or educational bias and that is the party the president belongs to. Why are the stakes high for the 2015 election and what is your stance on hate campaigns? The stakes are not supposed to be high; this is supposed to be as political as possible. A country should not suffer economically because they want to do election or vote for a president. It is because people have been winning elections without people’s votes. This is the first time that people are sweating. Before, people thought it was a joke, but now they are realising that with the Permanent Voters’ Cards (PVCs), smart card readers (SCRs) and everything they are putting in place, they

now know it’s not a joke. Before, when you had the PDP ticket, you could just go and sow a new babariga and sokoto to say that you have won already. But it is not the same thing now; you need to tell the people what you will do for them. I praise President Jonathan who even approved this money because this thing could have been done 10 years back but all presidents did not have the courage to do it. But Jonathan had the courage to do it and Nigerians must appreciate him. He could have said no to card reader, go to hell and nothing will happen! He could have said go and use the old method until I complete my presidency. So, Jonathan is a very courageous man and I give it to him. He was courageous to unbundle PHCN, courageous to approve budget for card readers. We are supposed to have done it in 2003, we didn’t do it, same with 2007 and now the man did it, we must give him accolades. All these things were proposed by Prof. Maurice Iwu but politicians said no, that they would lose election. Now Jonathan is gambling with it, so he is a courageous man. Nigerians should sympathise with him and vote for him because of his courage. Those who play courageous politics like Jonathan are few.

CONTINUE TOMORROW

42 Politics

WEDNESDAY, MarCh 18, 2015 NEW TELEGRAPH

Unmasking the motive of TAN The Transformation Ambassadors of Nigeria (TAN) took the media by storm last year, championing the reelection of President Goodluck Jonathan. ONYEKACHI EZE examines the motive behind the formation of the organisation

he history of the campaign for the second term in office of President Goodluck Jonathan will not be complete without the mentioning of Transformation Ambassadors of Nigeria (TAN). TAN was so vociferous in its campaign that it could easily be regarded as an arm of the ruling Peoples Democratic Party (PDP). But Ben Chuks-Nwosu, TAN’s Director of Operations may tend to disagree. Chuks-Nwosu, a former member of the Anambra State House of Assembly, explained that the philosophy of TAN goes beyond perceived sycophancy by the Nigerian people. According to him, “the philosophy of TAN is that if someone is doing well, that person should be supported irrespective of his political platform. As a non governmental organisation (NGO), we are not limited to the kind of things we can do, say or fund.” TAN played a leading role in the adoption of Jonathan as sole presidential candidate of PDP. It organised and collated over 12 million signatures from the six geopolitical zones of the country and Abuja, the Federal Capital Territory (FCT), urging the president to seek re-election. This, Chuks-Nwosu explained was because TAN believes that “this government has done well. That is why TAN is working in collaboration with the PDP for its reelection, not necessarily because he is a member of the PDP but because he has performed very well and need to be supported.” He said that a political party is a mere platform of the person TAN may wish to identify and support, adding, “we are going to continue this task for the good of the country. Even after his (Jonathan’s) presidency, if there is another president who is doing well, it will be our considered opinion to also render the same support. I don’t want us to be seen as a creation of PDP or being set up by Mr. President as it has been alleged by some individuals”. To further buttressed this point, the Director of Operations recalled that the initiator of TAN, Chief Ifeanyi Uba ran for the governorship of Anambra State on

President Jonathan (left) and Chief Ifeanyi Ubah the Labour Party (LP) platform in 2013. Although the LP has no presidential candidate in the forthcoming election, but TAN, according Chuks Nwosu, because of the numerous achievements of President Jonathan in the areas of education, road construction and reconstruction, threw its weight behind him. “We have found out that the numerous achievements of Mr. President were under publicised by the ministries and agencies under which such commendable feats were achieved. So, we at TAN took up that task and went round the ministries and their files to dig out such laudable projects which the president has undertaken in his Transformation Agenda so that we can sell them to the public. “When the party primaries were over and candidates emerged, the euphoria of Sai Buhari! Sai Buhari!! was overwhelming. So TAN went to articulate all the achievements of President Jonathan and put them in the media. And we are happy to say that not one single person has come out to contest or disprove all the things we have put in terms of the achievements of Mr. President. “We are of the view that the president has done much more than any other president that has come before him in his first term in office in areas like agriculture, water resources, aviation, transport, which are highly under publicised. But TAN has through its last tour of the six geo-political zones exposed the numerous achievements of Mr. President and that is why we are solidly behind him in his re-election bid,” Nwosu added. He was also of the view that

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

This government has done well. That is why TAN is working in collaboration with the PDP for its reelection

Jonathan will win the presidential election despite the crowd often witnessed at the campaign rallies of the main opposition All Progressives Congress (APC). Nwosu, who said he attended all PDP campaign rallies in the North, said most people who were always present at rallies do not have Permanent Voters’ Cards (PVCs). “I think that statistics and bloc votes will determine this election, not euphoria or crowd at campaign grounds. The truth is that whatever figure that is placed on the table on the day of the election is what will determine the winner of the election and not the number of people who have collected their PVCs. “We are convinced that General Buhari and the APC cannot win the election with only their organised crowd at campaign grounds. I can assure you that the organised labour, women, youths, the transport sector, aviation and agric sector will give Mr. President their bloc votes,” he added. He noted that President Jonathan has always insisted on campaigning with a manageable crowd even from the members of his party which were limited to what the security could control as against the mammoth crowd that follows the APC candidate without control. “Most of them are miscreants who do not have voters’ cards. In our rallies, we insisted that those who were allowed to enter the venue must show their PVCs,” Nwosu explained. According to him, the zonal rallies which TAN organised before the campaigns has watered the ground for the acceptability of the president, adding that what

the organisation has done was to publicise and sell the achievements of President Jonathan to Nigerian electorate. In furtherance to its commitment to ensure the victory of President Jonathan in next month’s presidential election, Nwosu disclosed that TAN has created PDP volunteer centres in every ward across the country. Each centre, according to him, has a minimum of five persons who will later be deployed to campaign and mobilise voters for President Jonathan during the election. He, however, said the activities of the organisation is not limited to political programmes alone as it has also delved into humanitarian activities. The recent is its visits to the Internally Displaced Persons (IDPs) camps in the North-eastern part of the country. Chuks Nwosu disclosed that the organisation is in its second leg of such visitations. “When we concluded the tour and TAN rallies at the zones, we commenced the second leg of our project which we started with humanitarian works in the North-East that has the IDPs. At the IDP camps, we saw that hunger has no colour or religion. “In places like Gombe, we went to Gudu Hausawa where upon the request of their leaders, we supplied to them large tons of rice, beans, Indomie, detergents and cloths which they said they needed most,” he said. TAN, according to him, is also involved in youth empowerment, and will build industrial park in every geo-political zones of the country. It equally intends to delve into environmental issues.

Politics 43

NEW TELEGRAPH WEDNESDAY, MarCh 18, 2015

‘Jimi Agbaje will work for Lagos’ Bode Bamkole

r. Joe Igbokwe’s write up recently is very interesting, but not unexpected. The man must earn his keeps, more so, like Akinwunmi Ambode, the All Progressives Congress (APC), he is a beneficiary of vested interest. However, contrary to his assertion about Jimi Agbaje, by a wide margin he missed the point. Agbaje is a man in total con-

trol of his destiny, he will not be governed by erstwhile governors or any vested interest for that matter. Agbaje will work for Lagos. He is the real change Lagos desires, not a continuity in absurdity. When voted in, he will truly transform Lagos, he will ensure probity and accountability. The corruptive system that has permeated governance in the state will become a thing of the past. Inflated contracts and leakages through Alpha Beta

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

will be plugged. Taxpayers’ money will be used solely for the benefit of the people. There is no doubt in the minds of Lagosians

Agbaje

that Agbaje’s candidacy is a product of well contested primaries of the Peoples Democratic

Party (PDP). Agbaje earned his victory. It is equally known that several months before the APC primaries, the Oba of Lagos, Alhaji Rilwan Akiolu has endorsed and presented Ambode as the next governor of Lagos on the platform APC. It is obvious that the primaries that produced Ambode was just a formality. Agbaje has been tested and he has proved himself, he is a technocrat. He built a pharmaceutical company from the

scratch, transformed it into a global manufacturing conglomerate. That is why Lagosians are trusting him to take Lagos to greater heights. However, the question the good people of Lagos are asking is why did Ambode suddenly “resign” from the Lagos State Civil Service when he has not attained the mandatory age of retirement nor spend the maximum of 35 years required by law or was he forced to resign as it has been rumoured Mr. Ambode must explain to the people of Lagos reasons for his sudden and untimely resignation. Lagosians cannot afford to leave the fortunes of our state in the hands of someone who has openly promised to work for a vested interest. Truly Lagos remains a viable state. It is equally true that Lagos is the most mismanaged state in the whole country. Industries are fleeing Lagos in droves to neighbouring states/countries because of the unbearable tax regime - thus, fuelling the problem of unemployment in the last 16 years. The APC government has put value on naira than on the people they are out to serve. We all can see the legacy Alhaji Lateef Jakande (Action Governor) bequeathed to the people of Lagos State by providing affordable housing. Can Mr. Igbokwe tell us where a level 10 officer in the service of Lagos State government can buy a two-bedroom flat in Lagos? Or show us what APC as a party has achieved at the national level. The recently commissioned Tejuosho market at N10.9 million per shop is out of the reach of ordinary people. The truth is that the APC Lagos is an elitist’s government. It is a government of the few for the few vested interests. Lagos debt profile is astronomical; over N400 billion, the largest owed by any state. With the resources available to the state, if well managed and not recklessly wasted on political empire building adventure by the vested interest, Lagos would have achieved its Million Development Goals (MDGs) objectives. Indeed to whom much is given, much is expected. That is why Lagos should vote en masse for Jimi Agbaje, so that Lagos State can truly excel. •Bamkole is a Marketing Communications Consultant and a politician.

Business | Money Line

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Deloitte: African mega project investments hit $326bn

VITAL

Africa continues to be a magnet for Foreign Direct Investment Tony Chukwunyem

nvestments in mega projects on the continent surged 46 per cent to US$326 billion last year, led by heavy investment in transport, energy and power, according to the third annual Deloitte African Construction Trends report made available to New Telegraph yesterday. According to a statement issued by the firm, to qualify for inclusion in the Deloitte African Construction Trends report, which monitors progress on capital intensive infrastructure on the continent, projects must be valued at more than US$50 million and had to have broken ground by at least 1 June 2014. While the number of projects that qualified for inclusion in the 2014 report fell to 257 from 322 the year before, the total value of projects under construction increased from USD 222.77 billion in 2013. Commenting on the report, Regional Director at Deloitte, Mr Andre Pottas, said, “Africa’s rapidly growing middle class continues

to drive demand for sustainable social infrastructure. Africa is en route to a brighter future and overall, we see the opportunities surpassing the challenges facing our continent.” Of the projects included in the 2014 Deloitte African Construction Trends report, no less than 143 were led by the public sector with a further 88 being private sector initiatives and 26 classified as Public Private Partnerships

(PPPs). Energy & Power accounted for 37 per cent of the number of mega projects undertaken in Africa in 2014, followed by transport (34 per cent), mining (9 per cent), real estate (6 per cent), water (5 per cent), oil & gas (4 per cent), mixed use facilities (2 per cent) and health care (1 per cent). “More than 10 per cent of the projects included in this year’s survey were structured as PPPs,

which is an increase from about 4 per cent the previous year,” said Mr Pottas. “That is very encouraging to see as we believe that significant private sector participation is required alongside government initiatives in order to enable Africa to close its infrastructure gap with the rest of the world.” Southern Africa led construction activity on the continent, accounting for $144.89 billion in

Firm tasks banks, others on e-funds’ challenges Kunle Azeez

recise Financial System (PFS), one of the leading indigenous software solution providers in the financial sector, has called on banks and Other Financial Institutions (OFIs) in the country to take proactive measures towards addressing challenges associated with their Electronic Fund Transfers (EFT) operations. Speaking at the unveiling of the PFS EFT Reconciliation solution christened, ‘Clirec’ in Lagos, Chief Executive Officer, PFS, Mr Yele Okeremi,

said that failure of banks and OFIs to find a lasting solution to the challenges portends grievous dangers for the sector. These challenges, Okeremi noted, were growing by the day and might continue to grow unabated, until a major proactive approach is employed. Okeremi, a software expert, said that account reconciliation across the Automated Teller Machine (ATM) cards and other electronics platform transactions, has become a nightmare to back-office systems’ custodians in the banking sector. Stating why the banks

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

N16,833,244.57 N16,509,472.5m 8.2 0.0000 13 10.899 7.96 17.01 US$61.39 US$30,340,087,165

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, 2014 Dec, 2013 Feb, 2015 2/5/2014 24/2/2015 11/6/2013 Dec, 2013 Dec, 2013 24/2/2015 13/3/2015 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

projects or 44.5 per cent of the total value of mega construction projects on the continent last year. West Africa overtook East Africa with the region attracting US$74.84 billion in projects, or 23 per cent of the total projects on the continent by value. Central Africa experienced a massive 117 per cent surge in the value of construction projects, which reached $33.21 billion while North Africa saw

the value of construction projects jump almost 36 per cent to $9.12 billion. East Africa experienced a moderate 10 per cent decline in the value of projects, which nevertheless totaled a respectable $60.67 billion in 2014. “Africa continues to be a magnet for Foreign Direct Investment (FDI) and intra-African capital inflows,” said Mr Pottas. “With a 76 per cent completion rate of projects collected from our previous report, expectations remain high for infrastructure to provide the developing continent with much needed market expansion.”

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

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

to ensure seamless and costeffective reconciliation of fund transfers on the various platforms being used for EFT. He said: “Though, they claimed the transactions are working because money kept moving from one account to another, but lots of them are suffering major losses. It gets worse if it is a loss they are aware of and it is getting really worse because most of these banks don’t know about it, but they are losing much.

IDB to partner Nigeria, Ivory Coast on Islamic bond issuance

he Islamic Corporation for the Development of the private sector (ICD), the private sector arm of the Islamic Development Bank (IDB), has said that it is collaborating with Nigeria and Ivory Coast on both countries’ plans to issue Islamic bonds also known as sukuk. Speaking on the sidelines of the Africa CEO Forum in Geneva, Chief executive of ICD, Khaled Al-Aboodi, was quoted by Reuters as saying that the corporation was, “actually exploring with Nigeria and Ivory Coast,” The ICD helped arrange Senegal’s debut 100 billion

CFA francs ($208 million) Islamic bond last June. Despite strong growth in the Middle East and Southeast Asia, Islamic finance has lagged in Africa, home to a quarter of the world’s Muslims, thus presenting an opportunity for the ICD. Nigeria, which has the largest Muslim population in subSaharan Africa, is trying to establish itself as the African hub for Islamic finance. “The issuance by Senegal has opened up the whole region. We will ... hopefully support at least two countries in 2015 to issue a sukuk,” said Al-Aboodi.

Ecobank showcases products, services at fair

Money Market Offer 11.85 11.85 11.80

face myriads of challenges in this regard, Okeremi said, “It is because EFT, more or less, crept into the Nigerian system, which was as a result of technological disruption bringing about innovations, with so many people going into it and some being forced into EFT without proper understanding of what they were actually going into.” He lamented that some of the banks went into EFT without getting the appropriate model that work for them

cobank Nigeria has put on display some of its flagship financial products and services at the 26th Enugu International Trade Fair, which opened last Saturday. According to a statement issued by the lender, special products that represent its e-banking, transfer and middle-class solutions are all on display and customers’ access and easy use are demonstrated to visitors at the fair. The bank said it is also offering financial solutions and advise to the various SME and Local Corporate size companies, on the new CBNs single digit in-

tervention facilities, such as the Micro, Small and Medium Enterprises (MSME) and Real Sector Support Finance (RSSF), of which Ecobank is a championing bank. Announcing the bank’s participation at the fair, Ecobank Regional Manager, South-East, Jovita Okeahialam, said the trade fair provides the bank the opportunity to demonstrate the use of its products such as those that connect to the bank’s e-platform for mass appeal. Also, he stated that other special product offering like the Ecobank Salary Advance is being offered to the public.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

FMDQ Daily Quotations List

17-Mar-15

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030 12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

535.00 581.39 476.80 20.00 100.00 300.00 351.30 233.90 54.00 600.00 499.68 75.00 150.00 200.00 591.57 254.50

TOTAL OUTSTANDING VALUE

5,023.13

TOTAL MARKET CAPITALISATION

4,487.34

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

0.10 1.42 2.11 2.36 2.46 3.20 4.29 4.60 4.91 6.87 8.99 13.70 14.18 14.68 15.35 19.34

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

15.39 16.26 16.43 16.38 16.38 16.28 16.19 16.12 16.10 16.08 16.68 14.51 14.24 13.97 15.24 16.73

13.90 16.14 16.35 16.29 16.29 16.15 16.09 16.00 16.01 16.01 16.61 14.46 14.19 13.90 15.17 16.66

98.84 96.03 97.64 87.57 86.24 86.43 99.34 71.13 98.10 101.20 88.64 102.83 89.40 66.21 69.18 73.81

98.99 96.18 97.79 87.72 86.39 86.73 99.64 71.43 98.40 101.50 88.94 103.13 89.70 66.51 69.48 74.11

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.19 0.92 1.73 2.09 2.30

2.63 2.27 2.00 1.00 2.85

18.03 19.38 18.31 17.39 19.23

96.68 98.41 96.62 97.08 90.40

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

307.94

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.46

4.44

20.30

96.71

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.30

3.23

18.74

98.44

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.81

4.46

21.27

94.84

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.81

3.48

20.30

96.53

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.09

1.00

17.39

87.47

13.75

25.73

30-Jun-17

1.36

1.00

17.55

95.64 91.19

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.79

1.79

18.13

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

1.96

1.80

18.18

93.66

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.98

1.00

17.38

94.79

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.16

1.00

17.38

95.11

‡ /Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.17

4.78

21.16

88.54

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.36

1.00

17.38

96.57

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

02-Oct-12 22-Nov-12 12-Dec-12

15.50 14.50 14.75

16.23 80.00 25.70

02-Oct-19 22-Nov-19 12-Dec-19

2.60 4.69 2.76

1.00 1.00 1.00

17.36 17.11 17.34

96.43 91.74 94.67

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

11.10

10-Oct-20

3.21

1.00

17.28

94.18

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.70

1.00

17.06

87.29

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.79

1.00

17.05

92.56

‡ /Agusto A-/GCR

*EKITI *NASARAWA

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

31-Dec-13

14.50

4.55

31-Dec-20

3.45

1.44

17.69

92.37

06-Jan-14

15.00

4.56

06-Jan-21

3.48

1.00

17.24

94.53

97.31

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

459.68 421.73

Corporate Bonds ‡ /Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.42

1.00

16.79

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.48

1.00

16.92

97.78

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.56

2.63

18.76

97.57

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.54

1.00

17.25

94.47

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.61

1.34

17.61

95.42

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.54

1.00

17.37

91.31

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.56

1.88

18.14

100.53

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.56

1.00

17.26

98.42

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.98

1.00

17.38

100.95

97.83

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.98

1.00

17.38

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.52

1.00

17.24

91.71

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.40

18-Oct-18

1.84

2.29

18.63

95.89

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

17-Feb-19

2.17

6.11

22.49

92.98

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.79

2.16

18.50

94.81

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.66

2.76

18.82

87.81

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.54

1.00

17.85

73.28

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.54

1.00

17.85

79.24

TOTAL OUTSTANDING VALUE

132.23

TOTAL MARKET CAPITALISATION

122.09

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.91

1.00

17.32

84.22

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

17.11

81.01

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 20.60

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.08

6.86

98.42

99.46

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

6.43

6.08

96.15

97.17

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.34

7.17

94.04

95.07

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,443.01

Corporate Eurobonds B/Fitch; B-/S&P

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

112.17

49.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

7.71

6.25

99.75

101.37

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

13.35

88.00

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

14.25

13.05

81.83

84.50

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

9.05

8.53

90.72

92.22

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

39.03

43.63

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.24

90.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

15.82

15.02

78.94

81.03

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

14.09

77.95

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

AFREN PLC III ACCESS BANK PLC II FIRST BANK LTD

6.63 DEC 09, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

09-Dec-13 24-Jun-14 23-Jul-14

6.63 9.25 8.00

360.00 400.00 450.00

09-Dec-20 24-Jun-21 23-Jul-21

23.92 14.51 13.06

23.92 13.94 13.06

47.50 78.92 78.00

47.50 80.92 78.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.46

10.95

87.25

89.38

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

3,664.03

**Treasury Bills DTM 9 16 23 30 37 44 51 58

Money Market

FIXINGS Maturity 26-Mar-15 2-Apr-15 9-Apr-15 16-Apr-15 23-Apr-15 30-Apr-15 7-May-15 14-May-15

Bid Discount (%) 13.87 14.48 13.97 14.74 14.90 14.72 13.69 14.74

Offer Discount (%) 13.62 14.23 13.72 14.49 14.65 14.47 13.44 14.49

Bid Yield (%) 13.91 14.57 14.09 14.92 15.12 14.98 13.96 15.09

Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 23.1250 16.6631 17.6405 18.6558

Rate (%)

OBB

15.00

O/N

15.92

Tenor Call 1M

REPO

Rate (%) 16.00 17.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

199.08 201.81 202.13 202.87 204.24 205.60

199.18 201.93 202.28 203.37 205.31 207.21

***LCRM

0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

20-Apr-12 06-Jul-12

0.00/16.50 0.00/16.50

116.70 66.49

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

307.94

19-Apr-17 06-Jul-17

2.09 2.30

1.00 2.85

17.39 19.23

97.08 90.40

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.46

4.44

20.30

96.71

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.30

3.23

18.74

98.44

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.81

4.46

21.27

94.84

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.81

3.48

20.30

96.53

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

‡ /Agusto

Business | Financial Market News

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH 2.09 1.00 17.39 87.47

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.36

1.00

17.55

95.64

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.79

1.79

18.13

91.19

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

1.96

1.80

18.18

93.66

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.98

1.00

17.38

94.79

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.16

1.00

17.38

95.11

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.17

4.78

21.16

88.54

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.36

1.00

17.38

96.57

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

02-Oct-12 22-Nov-12 12-Dec-12

15.50 14.50 14.75

16.23 80.00 25.70

02-Oct-19 22-Nov-19 12-Dec-19

2.60 4.69 2.76

1.00 1.00 1.00

17.36 17.11 17.34

96.43 91.74 94.67

31-Dec-20

5.79

1.00

17.05

92.56

NEGATIVE ‡ /Agusto; A-/GCR† ‡ /Agusto

Equities drain as ‡ /Agusto; A-/GCR BBB+/Agusto; A-/GCR investors step up Aa-/Agusto; ‡ /GCR BBB-/Agusto; A-/GCR profit taking BBB-/Agusto

*EKITI *NIGER *ONDO *GOMBE LAGOS

Stock market down by N126bn

ed some days14.75 ago, to12-DEC-2019 take The banking services OSUN profits. ser10-Oct-13 14.75 OSUN II 10-OCT-2020 sector of the financial Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS Consequently , the27-NOV-2020 All- vices sector was the27-Nov-13 most A-/Agusto; BBB+/DataPro KOGI KOGI 31-DEC-2020 Share Index15.00 shed 375.87 active (measured by31-Dec-13 turn31-Dec-13 ‡ /Agusto *EKITI 14.50 EKITI II 31-DEC-2020 Stories by Chris Ugwu basis points or 1.3 per cent over volume); with 315.04 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 to close at 29,553.69 index million shares worth N1.7 TOTAL OUTSTANDING VALUE he bears yester- points as against 29,929.56 billion exchanged by inTOTAL MARKET CAPITALISATION day continued to recorded the previous day, vestors in 1,288 deals. Corporate Bonds maintain their while market capitalisaVolume in the sub10.00 UPDC 17-AUG-2015 17-Aug-10 ‡ /Agusto *UPDC stronghold on tion of equities deprecisector was largely driven 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS by activities in the shares theBB/GCR Nigerian stock marated by N12614.00 billion or 1.306-JAN-2016 CHELLARAMS 06-Jan-11 *CHELLARAMS lower at of Diamond Bank Plc ketA+/Agusto; as activities of the and 13.00 NAHCO 29-SEP-2016 A-/GCR 29-Sep-11 NAHCO per cent to close 14.25as FSDH 25-OCT-2016 Access Bank Plc. A-/Agusto 25-Oct-13 FSDH N9.861 trillion against shares of blue chip com13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 panies culminated inUBAa N9.987 trillion. Also, other financial 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING services subsector, loss of N126 billion. Meanwhile, a turnover MPR+7.00 DANA 9-APR-2018 09-Apr-11 Nil *DANA boosted by activities in MarketB+/GCR watchers *TOWER be- of 452.3 billion MPR+7.00shares TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; lieve speculators made a worth N3.2 billion 3,739 the shares of FBNH Plc, MPR+5.25in TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A/GCR *TOWER 14.00 UBA IIin 22-SEP-2018 A/Agusto; 22-Sep-11 UBA retreat toA/GCR take advantage deals was recorded the followed with a turnover 15.75 LA CASERA 18-OCT-2018 BBB+/GCR 18-Oct-13 *LA CASERA day’s trading. of Bbb+/Agusto; the bullish rally recordof 93.09 million shares *OSUN *OSUN

#{r}

valued at N458.6 million in 99114.75 deals. 11.10 13.50 Further analysis87.50 of the 5.00 day’s 15.00 trading showed that 14.50 4.55 Access Bank Plc topped 15.00 4.56 the day’s gainers’ table 459.68 with 10.03 per cent421.73 to close at N6.58, while Costain West Africa Plc followed 10.00 2.50 with 4.69 per cent to close 12.00 18.75 at 67 14.00 kobo per share. 0.42 International Energy15.00 Insur13.00 5.53 per ance 14.25 Plc gained 3.85 20.00 cent 13.00 to close at 54 kobo 18.00 0.64 per share. 16.00 6.30 On18.00 the flip side, 2.54GTB Plc led 16.00the losers’ 0.70table 35.00 per with 14.00 a drop of 7.54 15.75 2.40 cent to close at N22.19 per

BBB-/DataPro†; BB/GCR

*CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

IFC lends GTB $175m

nternational Finance Corp 182D T.bills+1.20 STANBIC IA 30-SEP-2024 30-Sep-14 11.93 STANBIC IBTC 13.25 STANBIC IB 30-SEP-2024 A/GCR 30-Sep-14 13.25 IBTC (IFC) has lent $175 STANBIC million TOTAL OUTSTANDING VALUEBank to Guaranty Trust TOTAL MARKET (GT Bank) PlcCAPITALISATION to expand its In terms of value creation loans (NPL) ratio remained lending portfolio in Africa’s for its shareholders, the bank low at 3.15 per cent; down from Supranational Bond biggest economy, the private recorded pre-tax ROAE of 32.94 3.58 per cent in the compara10.20 IFC 11-FEB-2018 AAA/S&P IFC 11-Feb-13 10.20 arm of the World Bank said per cent11.25 and ROAA of 5.22 per tive period of 2013. AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB 10-Jul-14 11.25 cent respectively. yesterday . Following this stellar perTOTAL OUTSTANDING VALUE According Reuters News, The bank’s balance sheet foramance, the bank proposed TOTAL MARKETto CAPITALISATION the corporation said the financ- remained strong with 12.4 per total-year dividend of N1.75 share of ing comprised $100 million forIssuer cent growth in total assets, kobo perIssue Description Rating/Agency Date (inclusive Coupon (%) IFC’s own account and $75 mil- from N2.10 trillion in 2013 to the 25 kobo interim dividend FGN Eurobondsan IFC managed N2.36 trillion in the year unpaid at half year 2014). lion through co-lending portfolio. der review. Loan6.75 book Commenting JAN 28,grew 2021 BB-/Fitch; B+/S&P 07-Oct-11 on the finan6.75 GTB recently released its by 27.12 per cent to close at cial results, Managing DirecBB-/Fitch; FGN 5.13 JUL 12, 2018 5.13 audited N1.28 trillion from N1.01 tril- tor/CEO 12-Jul-13 of Guaranty Trust BB-/S&P financial results for theBB-/Fitch; year ended December 2014 lion in 2013; driven primarily Bank, Mr.12-Jul-13 Segun Agbaje,6.38said 6.38 JUL 12, 2023 to BB-/S&P the Nigerian and London by growth of the foreign cur- that the bank’s financial perTOTAL OUTSTANDING VALUE Stock Exchanges. rency loan book, on the back of formance in 2014 attested to the TOTAL MARKETof CAPITALISATION A review the results the 2013 $400million Eurobond inherent soundness of its stratshowed positive performance issue. egy and resilience of earnings. Corporate Eurobonds across all financial indices. On the back of continued Agbaje01-Feb-11 said: “We remain 11.50 FEB 01, 2016 B/Fitch; B-/S&P AFREN PLC I 11.50 retail committed to maximising The Group delivered profit be- growth of the bank’s 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 7.50 deposits shareholder fore tax of N116.39 billion, an franchise, customer value and deliver7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC 25-Jul-12 7.25 grew by 13.3 per6.88cent increase of 9.30billion or 8.7 ing superior and sustainable MAY 09,from 2018 B/Fitch; B/S&P FIDELITY BANK PLC 09-May-13 6.88 per centB+/S&P over the N107.09 N1.43 trillion in 2013 to08,N1.62 returns. 08-Nov-13 Our objective6.00 is to 6.00 NOV 2018 B+/Fitch; GTBANKbilPLC lion reported in December trillion in 2014. The remain a leading player10.25 in the 10.25bank APR 08, con2019 B/Fitch AFREN2013 PLC II 08-Apr-12 6.25 APR 2019 B+/Fitch; BB-/S&P BANK PLCtinued to maintain 22-Apr-14 6.25 and gross earnings of ZENITH N278.52 a 22,discifinancial services sector whilst 8.75 approach May 21, 2019 B/Fitch; B/S&P BANK PLC 21-May-14 billion, representingDIAMOND an inplined and prudent expanding our franchise8.75 in seAUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC crease of 14.8 per cent from the to loan growth in 8.25 line with its lect, high 07-Aug-13 growth African8.25 mar6.63 DEC 09, 2020 B-/Fitch; B/S&P AFREN PLC III 09-Dec-13 framework. kets where N242.67billion recorded in the risk management we believe we6.63 have 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II 24-Jun-14 9.25 same period competitive advantage.”8.00 non-performing USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P of 2013. FIRST BANK LTD The bank’s8.00/2Y 23-Jul-14 A/GCR

B-/S&P

8.75 AUG 14, 2021

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

14-Aug-14

Balogun succeeds Osunkeye at Lafarge Africa 3.45

1.44

17.69

92.37

06-Jan-21

3.48

1.00

17.24

94.53

0.42

1.00

16.79

97.31

11.46

10.95

87.25

89.38

hief Olusegun He16.92 was a member of 0.48 1.00 97.78 Osunkeye, the Committee that 06-Jan-16 0.56 will re2.63 18.76 97.57 drafttire voluntarily as ed the17.25 first Nigerian 29-Sep-16 1.54 1.00 94.47 Code 25-Oct-16 1.34 17.61 95.42 Chairman of 1.61 the Board of Corporate Governance. 2.54 1.00 17.37 91.31 of30-Sep-17 Directors of Lafarge Commenting on the 30-Nov-17 1.56 1.88 18.14 100.53 change of baton, OsunkAfrica Plc from the con09-Apr-18 1.56 1.00 17.26 98.42 clusion eye said: delighted 09-Sep-18 of the 1.982015 An1.00 17.38 “I am100.95 nual General1.98Meeting that the Board has appoint09-Sep-18 1.00 17.38 97.83 22-Sep-18 3.52 served 1.00 17.24 91.71 (AGM), having ed Mobolaji Balogun to 1.84 2.29 18.63 95.89 as18-Oct-18 a Director for 14 years, succeed me as chairman. 17-Feb-19 2.17 6.11 22.49 92.98 He18.50 has a breadth of exfive out of which was as 01-Apr-19 2.79 2.16 94.81 Chairman of the Board perience across finance, 14-Nov-20 5.66 2.76 18.82 87.81 of30-Sep-24 Directors. 9.54 1.00 strategy 17.85and management 73.28 30-Sep-24 9.54 from the 1.00 and is 17.85 79.24 In a statement very familiar with company, the Board an- Lafarge’s business in Ninounced that Mr. Mobola- geria and Africa and I am ji Balogun would succeed sure he is the right person Osunkeye as 2.91 Chairman to chair the Board going 11-Feb-18 1.00 17.32 84.22 effective May 23, 2015. 1.00 forward, after 81.01 the 2015 01-Feb-21 4.75 17.11 Balogun, a non-execu- AGM. We have made contive director of the com- siderable progress to crepany, is also Chairman of ate a stronger and more the Board, Finance and diversified Maturity Date Bid Yield (%) Offer Yield (%) Bid Price building Offer PricemateStrategic Planning Com- rials company but there is & Yields mittee and a Member ofPrices still work to be done. the Audit Committee. Bolaji is very well 28-Jan-21 7.08 6.86 98.42 99.46 He is the Chief Execu- equipped to lead Lafarge 12-Jul-18 6.43 6.08 96.15 tive Officer of Chapel Hill Africa through97.17 the next stage94.04 of its growth. His Denham, one of the lead12-Jul-23 7.34 7.17 95.07 ing independent invest- experience and expertise ment bank in Nigeria will be invaluable and I and a Director of Lafarge wish him every success Africa Plc and NAHCO in the future.” Aviance Plc. 112.17 Lafarge Africa’s Group 01-Feb-16 112.17 49.00 49.00 Balogun was appointManaging Director, Mr. 19-May-16 7.71 6.25 99.75 101.37 ed25-Jul-17 to the Johannesburg Guillaume Roux, said that 13.35 13.35 88.00 88.00 Stock had 02-May-18Exchange, 14.25 Africa 13.05 the company 81.83 84.50set out Advisory Board clear 90.72 strategies92.22 to create 08-Nov-18 9.05 in Sep8.53 tember He is also one 08-Apr-19 2009. 39.03 39.03 the number 43.63 43.63 build22-Apr-19 9.24 90.00 90.00 the immediate9.24 past Chairing materials business in 21-May-19 15.82 15.02 Africa 78.94 81.03 solufor customer man of the Association of 07-Aug-20 14.09 14.09 77.95 Issuing Houses of Nigetions,77.95 innovation, trust 09-Dec-20 23.92 23.92 47.50 47.50 and shareholder value ria, the investment banks’ 24-Jun-21 14.51 13.94 78.92 80.92 trade group. 13.06 23-Jul-21 13.06 creation. 78.00 78.00 09-Dec-15

0.10

132.23 122.09 12.00 12.95

24.95 20.60 Outstanding Value ($mm)

500.00 500.00 500.00

1,500.00 1,443.01

450.00 500.00 350.00 300.00 400.00 300.00 500.00 200.00 300.00 360.00 400.00 450.00

8.75

31-Dec-20

17-Aug-15

15.44

250.00

14-Aug-21

4,760.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

share, while UBA Capital UBN Plc trailed with five per cent at N9.50 Plc shed 6.06 per 10-Oct-20 3.21 cent to 1.00 17.28 to close 94.18 27-Nov-20 1.00 17.06 87.29 per share. close at N1.555.70 per share.

17-Mar-15

3,664.03

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute Market **Treasury Bills professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “ASFIXINGS IS” and on an “AS AVAILABLE”Money basis and may not be accurate or up to date.(Spot We do not guarantee Foreign Exchange & Forwards) Bid Discount (%) Offer Discount (%) Bid Yield (%) Tenor Rate (%) the accuracy, DTM timeliness, completeness,Maturity performance or fitness for a particular purpose of any of the Information, neither do we accept liability NIBORfor the results of any action taken on the basis of the Information. 9 26-Mar-15 13.87 16 2-Apr-15 14.48 23 9-Apr-15 13.97 30 16-Apr-15 14.74 FGN Bonds 37 23-Apr-15 14.90 44 30-Apr-15 14.72 Rating/Agency Issuer Description 51 7-May-15 13.69 58 14-May-15 14.74 4.00 23-APR-2015 65 21-May-15 14.77 13.05 16-AUG-2016 79 4-Jun-15 14.57 15.10 27-APR-2017 86 11-Jun-15 14.56 100 25-Jun-15 14.19 9.85 27-JUL-2017 107 2-Jul-15 14.98 9.35 31-AUG-2017 121 16-Jul-15 14.88 10.70 30-MAY-2018 128 23-Jul-15 14.82 16.00 29-JUN-2019 135 30-Jul-15 14.68 7.00 23-OCT-2019 NA NA 142 6-Aug-15 14.94 15.54 13-FEB-2020 149 13-Aug-15 14.89 16.39 27-JAN-2022 163 27-Aug-15 11.80 14.20 14-MAR-2024 170 3-Sep-15 14.74 15.00 28-NOV-2028 177 10-Sep-15 14.74 12.49 22-MAY-2029 191 24-Sep-15 14.80 261 3-Dec-15 13.84 8.50 20-NOV-2029 275 17-Dec-15 14.01 10.00 23-JUL-2030 296 7-Jan-16 14.49 12.1493 18-JUL-2034 310 21-Jan-16 14.55 TOTAL OUTSTANDING VALUE 324 4-Feb-16 14.59 338 18-Feb-16 14.76 TOTAL MARKET CAPITALISATION 352 3-Mar-16 15.42 *for the Amortising bonds, the average life is calculated and not the duration # Risk Premium is a combination of credit risk and liquidity risk premiums Rating/Agency Issuer **Exclusive of non-trading t.bills

13.62 14.23 13.72 14.49 14.65 14.47 Issue 13.44Date 14.49 23-Apr-10 14.52 16-Aug-13 14.32 27-Apr-12 14.31 13.94 27-Jul-07 14.73 31-Aug-07 14.63 30-May-08 14.57 29-Jun-12 14.43 23-Oct-09 14.69 13-Feb-15 14.64 27-Jan-12 11.55 14-Mar-14 14.49 28-Nov-08 14.49 22-May-09 14.55 13.59 20-Nov-09 13.76 23-Jul-10 14.24 18-Jul-14 14.30 14.34 14.51 15.17

Description

13.91 14.57 14.09 14.92 15.12 14.98 Coupon 13.96 (%) 15.09 4.00 15.16 13.05 15.05 15.10 15.07 14.76 9.85 15.67 9.35 15.65 10.70 15.63 16.00 15.53 7.00 15.87 15.54 15.85 16.39 12.46 14.20 15.83 15.00 15.88 12.49 16.04 15.37 8.50 15.66 10.00 16.42 12.1493 16.60 16.76 17.10 18.12

Bonds

Issue Date

Tenor O/N 1M 3M 6M Outstanding

(N'bn)

Value

Rate (%) 23.1250 16.6631 17.6405 18.6558

OBB

15.00

O/N

15.92

REPO

Tenor TTM Call (Yrs) 1M 3M0.10 6M1.42

Maturity Date

535.00 23-Apr-15 NITTY 581.39 16-Aug-16 476.80 27-Apr-17 Tenor Rate (%) 1M 14.7773 20.00 27-Jul-17 2M 15.0496 100.00 31-Aug-17 3M 15.2217 300.00 30-May-18 6M 15.8072 351.30 29-Jun-19 9M 15.8458 233.90 23-Oct-19 12M 17.0384 54.00 13-Feb-20 600.00 27-Jan-22 499.68 14-Mar-24 75.00 NIFEX 28-Nov-28 150.00 Current Price ($/N)22-May-29 BID($/N) 200.00 199.0250 20-Nov-29 OFFER ($/N) 199.1250 591.57 23-Jul-30 254.50 18-Jul-34

Rate (%) Bid Yield 16.00 17.00 15.39 18.00 16.26 19.00

Tenor

(%)

Bid ($/N)

Spot 7D 14D 1M Offer Yield 2M (%) 3M 6M 13.90 1Y 16.14

2.11 16.43 16.35 2.36 16.38 16.29 2.46 16.38 16.29 :Benchmarks 3.20 16.28 16.15 * :Amortising Bond 4.29 16.19 16.09 µ :Convertible Bond 4.60 16.12 16.00 AMCON: Asset Management Corporation of Nigeria 4.91 16.10 16.01 FGN: Federal Government of Nigeria 6.87 16.08 16.01 FMBN: Federal Mortgage Bank of Nigeria 8.99 16.68 16.61 IFC: International Finance Corporation 14.51 Management 14.46 LCRM: Local13.70 Contractors Receivables 14.18 Aviation Handling 14.24 14.19 NAHCO: Nigerian Company O/N: Overnight 14.68 13.97 13.90 UPDC: UAC 15.35 Property Development Company 15.24 15.17 WAPCO:West Africa Portland Cement 19.34 16.73 Company 16.66 NOTE:

Offer ($/N)

199.08 199.18 201.81 201.93 Price 202.13 202.28 202.87 203.37 Bid Price Offer Price 204.24 205.31 205.60 207.21 206.2898.84 213.4798.99 220.2996.03 226.2796.18

97.64 97.79 87.57 87.72 86.24 86.39 NA :Not Applicable 86.43 86.73 # :Floating99.34 Rate Bond 99.64 ***: Deferred coupon bonds 71.13 71.43 98.10 98.40 ‡ : Bond rating under review 101.20 101.50 †: Bond rating expired 88.64 88.94 N/A :Not Available 102.83 {r} :Issuer in receivership 103.13 89.40 89.70 NGC: Nigeria-German Company 66.21 66.51 UBA: United69.18 Bank for Africa 69.48 73.81 74.11

5,023.13 4,487.34 Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

Agency Bonds FMBN ***LCRM Modified Duration Buckets

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Sub-National Bonds

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 Total Outstanding 0.00/16.50 LCRMValue(Bn) III 06-JUL-2017 Porfolio Market Volume(Bn)

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

Outstanding Vol

Value

322.38

1,372.86

1,409.48

42.92

46.35

3<5

1,014.66

1,059.68

32.27

34.26

574.17

815.07

24.82

3,284.23

Market

12.50 KADUNA 2,961.69 31-AUG-2015

24.56 2.40 112.22 116.70 66.49 Bucket Weighting

INDEX

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 % Exposure_ 06-Jul-17

Mod_Duration

0.19 0.92 1.73 2.09 2.30 Implied Yield

2.63 2.27 2.00 1.00 Implied 2.85

Portfolio Price

18.03 19.38 18.31 17.39 INDEX19.23

(%)

0.43 307.94

21.12

16.29

100.7812

0.32

37.70

16.35

97.0388

19.39

0.25

41.18

15.65

72.8388

1,023.75

1.6623

100.00 31-Aug-10

100.00 12.50

8.501.00

100.00 31-Aug-15

16.05 0.46 0.30 0.81 0.81 2.09 1.36 2.79 1.96 1.98

92.6391 4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00

1,046.81 20.30 18.74 21.27 20.30 17.39 17.55 18.13 18.18 17.38

0.7932 96.71 98.44 94.84 96.53 87.47 95.64 91.19 93.66 94.79

A/Agusto

KADUNA

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1,129.15

96.68 98.41 96.62 97.08 YTD Return 90.40

968.26 -

1.9225 4.3759

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

TOTAL WAR Govt. extends war against opposition to royal fathers, suspending five of them Igbeaku Orji Umuahia

bia State government’s war against the opposition took an appalling dimension yesterday as it suspended opposition-friendly traditional rulers in the state. The state radio station yesterday announced the suspension of five traditional rulers, four of who are from Isiala Ngwa South Local Government, the stronghold and home of the All Progressives Grand Alliance (APGA) candidate, Dr. Alex Otti and one from Ikwuano Local Gover nment area. The suspension, com-

Abia suspends traditional rulers ing two weeks to the first phase of the general elections is, according to the media arm of the Alex Otti Campaign Organisation, targeted at the traditional rulers, who in supporting Otti, rejected the PDP zoning formula that excluded Isiala Ngwa and Osisioma from the race, because they believe that there should have been a level playing field for every Ngwa person. Though the statement signed by the Commissioner for Local Government and Chieftaincy Affairs, Emma Nwabuko, announced on state-owned radio, described their offence as “anti-gover nment postures.” The suspension order may not be

News 47

SOUTH-EAST

unconnected with their friendly disposition with all candidates, including APGA and its candidate. The statement named the suspended traditional rulers to include Eze Nelson Nmerengwa, Ezeukwu 1 of Isiekenta autonomous community; Eze N. N. Nwachukwu, Eze Oha 2 of Ovungvu autonomous community; Eze

Peter Emereonye, Eze Udo 1 of Okporoahaba autonomous community, Eze Sampson Jinanwa Ise 1 of Amaise Ovungwu autonomous community, all in Isiala Ngwa South Local Government area and Eze Engineer Gbufor Johnson, Igwe 1 of Ariam usaka autonomous community of Ikwuano Local Government area.

Enugu water boss denies knowledge of concession contract Uwakwe Abugu Enugu

he Managing Director, Enugu State Water Corporation, Mr. Chinedu Akah, yesterday caused a stir at the state House of Assembly, when he told lawmakers that he signed the document on the alleged concession agreement on water supply in Enugu metropolis to a private company, A. G. Gold Trust for 25 years without looking at the letters of the agreement. Akah, who was responding to inquisition at the House hearing on

the matter, stunned the legislators when he made no effort to explain the letters of the agreement, telling them that he was just made to sign the concession agreement without even looking at it. “I did not look at it, I just signed the document,” Akah said, contrary to the explanation earlier offered by the state Commissioner for Water Resources, Mike Nwachukwu, who told the House that there was no bidding for the contract for the concession, but that it was a decision of the government to concession the corporation in the interest of the state.

Police warn politicians against unguarded utterances Igbeaku Orji Umuahia

ess than two weeks to the March 28 and April 11 general elections, the Abia State police command has warned politicians and their supporters to desist from using ‘hate speeches’ in their campaigns. In a statement signed by the command’s Public Relations Officer, Geoffrey Ogbonna in Umuahia yesterday, the police admonished “all political parties and contestants to cultivate zero-tolerance for violence, adding that “you are encouraged to engage in politicking according to the rules of the game.” “It is the directive of the Commissioner of Police that political campaign in public places such as schools,

town halls, churches and others should receive approvals from the DPOs in whose domain it is taking place.” According to the statement, “Parents and guardians are advised to caution their children and wards to avoid being used as political thugs as any person or persons caught disturbing or trying to disturb the electoral process will have himself or herself to blame.” The statement also expressed the preparedness of the Abia State police command to checkmate the excesses of those who would not conform to the letter and spirit of the electoral process. It warned that “the command would not fold its hands and watch miscreants and political jobbers disturb the peace of the state.”

Anambra Coordinator, Special Marshals and Partnership, Mr Ben Osaka (middle); with FRSC Unit Commanders, during an e-Ticketing seminar for special marshals in Nnewi, Anambra State…yesterday

Obiano appoints eight judges Tony Okafor Awka

nambra State governor, Chief Willie Obiano, yesterday appointed eight high court judges as part of activities to mark his one year in office. The judges are Arinze Chidozie Akasu, Theophine Oguji, Michael Okonkwo and Irene Ndigwe. Others are Raphael Onunkwo, Dennis Maduechesi, David Onyefulu and Fidelis Aniukwu.

The new judges were among the 16 forwarded to the National Judicial Council (NJC) for recommendation before their appointment. Addressing the judges shortly after their swearing in, Obiano assured them of good working conditions, stressing that the judges would move into a state-of-the-art accommodation made available to them by the state government immediately. The governor said this was the first time in

Labour leader berates Buhari, Oshiomhole over NLC election Uchenna Inya Abakaliki

bonyi State Chairman of the Joint Public Service Negotiating Council (JPSNC), Comrade Ikechukwu Nwafor, yesterday berated the presidential candidate of the All Progressives Congress (APC) and the Edo State governor, Adams Oshiomhole, accusing them of turning the Nigeria Labour Congress (NLC)

election into a campaign ground. Speaking to newsmen in Abakaliki, Nwafor said this led to the controversies recorded in the exercise. He said: “Buhari came into the plenary and started campaigning, telling us what he will do if elected. Oshiomhole was the one who brought him in and he also joined in the campaign. He took up the podium and started saying all sorts of things against

the government. “Not only that Oshiomhole campaigned for his party; he was also campaigning for one of the candidates contesting the NLC election, Joe Ajaero. The video clips are there and Buhari and Oshiomhole cannot deny this. “We told Oshiomhole that you are an elder, you don’t do things like this. The two contestants are your children, stop campaigning for one particular candidate and your political party, but he refused to

listen to us and it led to the controversy that was witnessed,” Nwafor said. Nwafor, who is also the state chairman of the Medical and Health Workers’ Union of Nigeria, accused Ajaero of inducing the delegates with money.

change of nameS

OGBOLUMANI

I, formerly known as OMOLOLA ADEJOKE ADEWUNMI, now wishes to be known as Mrs. OMOLOLA ADEJOKE OGBOLUMANI. Former documents remain valid. General public take note.

the history of the state that the government was swearing in eight judges at the same time and providing them with accommodation instantly. He added that the state would provide other facilities to the judges, including cars to assist them in their jobs. He urged the new judges to always expedite judgement on kidnapping and other related crimes in line with the state government’s policy to reduce crime to the minimum in

the state. Thanking the governor on behalf of others for their appointment, Justice Arinze Chidozie Akasuapledged that they would live above board in the discharge of their duties. He commended the state government for the infrastructure it has put in place that made their appointments possible before the NJC. Meanwhile, Governor Obiano yesterday marked his one year in office with pomp and pageantry, assuring the people that the state “is truly and fully on the rebound.

PUBLIC NOTICE THE INDEPENDENT MOTOR DEALERS ASSOCIATION OF OGUN STATE The general public is hereby notified that the above named Association has applied to the Corporate Affairs Commission, Abuja for registration under Part “C” of the Companies and Allied Matter Act,1990. THE TRUSTEES ARE: (1) CHIEF AFARIOGUN IBIKUNLE (2) ALHAJI SALAMI SEMIU AKANBI (3) OBA ADESANYA ADESOYE - (4) PRINCE ABIODUN ABDUL FATAI (5) CHIEF SURAJUDEEN ABIOLA (6) CHIEF OSIYEMI FATAI (7) ALHAJI AKINLOTAN BABATUNDE AREMU

- PRESIDENT - 1. VICE PRESIDENT -2. VICE PRESIDENT - SECRETARY - MEMBER - MEMBER - MEMBER

AIMS AND OBJECTIVES (1) To promote and protect the interest of the members (2) To create a forum for and provide moral and financial assistance to deserving members (3) To promote peace, harmony and mutual assistance between members (4) To co-ordinate with the government and non-governmental organisation with a view to contributing to the growth and development of the members. Any objection to this registration should forwarded to the Registrar-General,Corporate Affairs Commission, Plot 420 , Tigris Crescent, off Aguiyi Ironsi,Maitama District,Abuja within 28 days from the date of this publication. SIGNED: CHIEF M.A.O ADEBAYO 95,LISABI ROAD,ADATAN ABEOKUTA OGUN STATE 08033452691

News

SOUTH-SOUTH

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Kumuyi blasts clerics’ involvement in politics GOD OR MAMMON? Pastors in politics are serving two master; God and mammon, says Deeper Life Founder Dominic Adewole ASABA

he founder of the Deeper Life Bible Church, Pastor Williams Kumuyi yesterday chided some clerics who he accused of abandoning

lSays they lack vision their responsibilities of imparting the right attitude in the society against the pursuit of mundane things. The Pastor, currently touring all the Local Government Areas across the country, with his evangelic message of Jesus Chirst, specifically decried the attitude of most clerics, whom he claimed were serving ‘two masters’ – God and mammon. Briefing journalists in

Asaba, Delta State yesterday, on his pastoral visit to the 25 council areas of the state, the cleric said if pastoral work entails liberating men from oppression by bringing the power of God on men’s situation, then Pastors in politics have lost their calling. Represented at the briefing by the state overseer of the church, Senior Pastor Obinna Nkemjika, Kumuyi said no Pastor involved in political ac-

tivities can claim to be upright. He said, “Everybody has his or her calling, but unfortunately lack of jobs has driven many clerics into politics. Look at our Pastor, who is currently touring all the local government areas of the federation, he has time for that because he did not involve himself in mundane things. “If a Pastor has such vision to go round and be pronouncing blessings of God on men and averting disasters on their behalf, then he would have no time

if he is in politics because he is already distracted.” Dismissing the allegation that some pastors received billions of naira to endorse President Goodluck Jonathan, he said his coming to Delta state had nothing to do with the build up to the general elections. He urged those suffering from political, moral, spiritual and family oppression, those bedeviled with witchcraft, the barren and the sick to avail themselves of the opportunity provided by his coming.

NEMA tasks Rivers community leaders on violence-free polls Emmanuel Masha Port Harcourt

he National Emerg e n cy Management Agency NEMA, has urged community leaders in Rivers State to lead in the spread of the message of peace in the forthcoming general elections, noting that it was the only way to achieve violence-free polls. NEMA’s South- South Coordinator, Benjamin Oghena, who gave the charge in Port Harcourt, at a sensitization workshop in collaboration with the National Orientation Agency, NOA, said that communities would remain vulnerable to violence if stakeholders refuse “to sensitize, caution and educate all and sundry on the need to shun violence and embrace peaceful.” He lamented the rising levels of destruction of lives and property, saying it was unacceptable for people to resort to bloodletting at the slightest provocation on political issues. “Gover nment can no longer accept the diversion of scarce resources from development purposes to address disasters, due to unwarranted violence, destructions, leading to displacements and reconstructions,” he said. Also speaking at the event, Oliver Wolugbom, Rivers State Director of National Orientation Agency, NOA, observed that those who perpetrate electoral violence were desperate politicians, who only nurse hope benefitting from the resultant consequencies as against the future development of the people.

Edo State Governor, Comrade Adams Oshiomhole (left), commiserating with Company Secretary, Nigerian Airspace Management Agency (NAMA), Mr. Paul Oki, at the valedictory court session in honour of the former Bendel State Chief Judge, late Hon. Justice J.A.P. Oki, in Benin City.

PDP dismisses APC’s claim of members’ defection in Edo Cajetan Mmuta BENIN

he Peoples Democratic Party (PDP), in Edo State yesterday dismissed the claim by the ruling All Progressives Congress (APC) that the PDP ward chairman and eleven members of the executives in the Ukpato Ward in Orhionmwon Council Area have defected to the APC. While dismissing the claim, the opposition party in the state said yesterday that neither its

leader, nor members in the area defected to the APC as claimed by the ruling party. The Ukpato PDP ward leaders had stormed the state secretariat of the PDP along Sapele Road in the state capital to protest a media report, which claimed that the defected PDP members were hosted by Governor Adams Oshiomole at the Government House. Led by the Secretary of the party in the area, Mr. Anthony Izevbigie, the PDP members disowned the claim of defection, stating that they

had no intention of leaving the PDP for the APC and would remain in the party to ensure that it emerge victorious in the forthcoming elections. Other members of the party who were on the visit to the party’s secretariat maintained that the ward Chairman, Mr. Vincent Aiwekhoe, was on his own in his journey to the APC. Also, the ward’s Youth Leader, Mr. Omorodion, stated that the ward chairman has been using them for his personal gains, describing his exit from the party as sign of good things.

Receiving the ward leaders on behalf of the State Chairman, Chief Dan Orbih, the State Publicity Secretary of the PDP, Mr. Chris Nehikhare, commended them for rejecting the pressure from the APC to defect from the PDP. Nehikhare said, “The true people of Ukpato Ward have rejected the APC, Edo people should disregard the statement that the executives of PDP in Ukpato Ward have defected to the PDP. They came today to affirm their faith in the PDP and the need for a change in the state.”

$16 bn EPZ project: Group advocates peace for take-off Joe Obende WARRI

group, the Niger Delta Peace Ambassadors (NDPA), has called on warring groups in the Ijaw and Itsekiri communities to sheathe their swords to pave way for the Federal Govern-

ment’s commissioning of the $16 billion Gas Export Processing Zone (EPZ) project in Delta State. In a statement signed by its National Coordinator, Chief Tonwei Jackson Tortor and Publicity Secretary, Comrade Chris Ejoh, the group called for ethnic harmony between the Ijaws

of Gbaramatu/Ogulagha and Itsekiris of Ugborodo in Warri South-West Local Government Area. NDPA urged the leaders of both ethnic nationalities to give peace a chance to ensure the smooth take-off of the project, which they said would boost the President Goodluck Jonathan’s transformation agenda and the

‘Delta Beyond oil’ initiative of the Delta State Government. The group said that the claim in some quarters, that the President was playing ethnic politics with the project was wrong, saying it was the rancour between the two ethnic groups that was actually stalling the project’s take-off.

Dickson, aides strategise for Jonathan’s victory Chris ejim yenagoa

ayelsa State Governor, Hon. Seriake Dickson yesterday met with appointees from the three senatorial districts in the state, to map-out strategies on the re-election of President Goodluck Jonathan and other Peoples Democratic Party, (PDP) contestants in the state. The meeting, which lasted for four hours, was said to have also had in attendance, the State Deputy Governor, Rear Admiral Gboribiogha John Jonah, the Speaker of the State House of Assembly, Hon. Kombowei Benson, Secretary to the State Government, Professor Edmond Allison Oguru, the Special Adviser to the governor on Political Matters, Hon. Fyneman Wilson, among other political stakeholders in the state who deliberated extensively on the success of the party in the forthcoming elections. The gover nor was said to have urged the stakeholders to put aside their political differences and work for the interest of the party.

...Promises to improve education sector Chris Ejim Yenagoa

over nor Seriake Dickson has assured the Association of Nigerian Conference of Principals of Secondary Schools [ANCOPSS] of his administration’s commitment to turn around the education sector in the state. He gave the assurance while playing host to the National Executive Committee of ANCOPSS at the Government House, Yenagoa, where he stated that his administration has initiated a number of projects and programmes towards achieving the administration’s objectives in the sector. Describing ANCOPSS, as key to stabilising the falling standard of education in the country, Dickson added that the secondary school standard was the most critical in the education sub-sector.

NEW TELEGRAPH wednesday, march 18, 2015

decision day

Former Adamawa Governor knows fate over impeachment as court is set to decide Mohammed Kawu Bauchi

Federal High Court sitting in Bauchi has fixed March 23, 2015 for ruling in a suit filed by the former Governor of Adamawa State, Murtala Nyako, against the Adamawa State House of Assembly over his impeachment from office. The court presided over by Justice Ibrahim Auta yesterday, ordered Olukoya Ogungbeje, counsel to Nyako, to file a written application today and serve all parties to the suit immediately to enable them reply. Justice Auta also directed all parties to the suit to reply to Ogungbeje's application within 48 hours if served as stipulated by law, emphasising that he would ‘hang the towel’ if he discovered that he lacks jurisdiction over the suit. “Therefore, I will not entertain anything in relation to the suit now as the jurisdiction of the court has been questioned,” he stated. Ogungbeje had earlier told the court that the suit had been presided over by

News 49

NORTH

Court fixes March 23 for ruling on Nyako’s impeachment Justice Bilkisu Bello, of the Federal High Court, Yola and had fixed March 12 for judgement and all of a sudden the case was transferred to the office of the Chief Judge of Federal High Court of Nigeria, Abuja. He emphasised that the case was moved to Abuja via a forwarding letter; “Forwarding of case file in suit No: FHC/ YL/CS/11/2014” dated 6th February, 2015 as directed by the Resident Judge of

Yola Division to forward the case file. Ogungbeje argued that the prediction of no jurisdiction was a point of law that the court could take oral application not necessarily written application. He asserted: “The case has to do with the tenure of my client which terminates on May 29, 2015; therefore, it was an issue of emergency since the case has suffered series of neglects.” Counsel to Adamawa

State House of Assembly, Abubakar Sa'ad, had in his argument told the court that the matter of urgency raised by counsel to Nyako was not necessary, because they failed to file the substantive suit three months after Nyako was impeached. Sa'ad emphasised that from the foregoing; urgency should not be translated into a defense and therefore urged the court to direct the counsel to the complainant to file

written application for no jurisdiction to enable parties to the suit reply. Justice Ibrahim Auta therefore adjourned the case to March 23, 2015 for ruling. The premises of the court were filed to capacity by Nyako’s supporters led by the former Adamawa State Chairman of the Peoples Democratic Party (PDP), Mijjiyawa Kugama and erstwhile Director of Press Affairs, Ahmed Sajo.

L-R: Group Medical Director, Esso Exploration Nigeria Limited, Dr. Mohammed Bello Aliyu; Kwara State Governor, Dr. Abdulfatah Ahmed and Founder/President, Wellbeing Foundation, Africa, Mrs. Toyin Saraki, at the commissioning of the Maternity Referral Centre built and equipped by Esso and NNPC at Eruku, Kwara State …yesterday

Culpable homicide: Why child bride must die — Prosecutor Muhammad Kabir Kano

he prosecution counsel canvassing death penalty for the 14-year-old child bride, Wasila Tasiu, over culpable homicide has told a Kano High Court in Gezawa that the suspect can't escape justice through back door.

The prosecution counsel, Lamido Abba Soron Dinki’s position came on the heels of a no case submission by the Defence counsel, Hussaina Aliyu Ibrahim that urged the court to acquit and discharge the accused person. Tasiu has been standing trial in the last 10 months for allegedly killing her husband and three

Aremu defends rejection of NLC election's result Ibraheem Musa Kaduna

he General Secretary, National Union of Textile Garment and Tailoring Workers of Nigeria, Comrade Issa Aremu, yesterday gave reasons why his group rejected the outcome of the recently concluded national delegates’ election of the Nigerian Labour Congress (NLC). Aremu, who made this known in a press briefing yesterday, said progressive industrial unions have dissociated themselves from the election. He alleged

that the election was designed to favour some particular candidates; and that was why some polling agents refused to sign the result sheets. However, he said the unions have resolved to reclaim NLC from the control of anti-democratic forces in the labour movement. According to him, the electoral process was not only flawed, but that Comrade AbdulWaheed Omar, the immediate past NLC president as well as the former General Secretary, John Odah, had also interfered with the process.

others via the application of a rat poison on the local delicacies she served her late husband. The prosecution lawyer told the court not to evaluate his evidence more, especially that the defence lawyers are yet to enter their defence. The state counsel further argued that “the issue about the credibility of our witnesses does not

even arise, because the law said the testimony of our witnesses should only be treated on case value.” Dinki cited Supreme Court judgement on Agbo versus The State in 2013 that “a no case submission should be determined within the narrow compass of the legally admissible evidence produced by the prosecution and as such

Suswam sends caretaker committees’ list to Assembly Cephas Iorhemen Makurdi

enue State governor, Gabriel Suswam, yesterday forwarded the list of caretaker committee chairmen to the Benue State House of Assembly for confirmation. Those who made the list include Mr. Mike Obiabo for Agatu, Mr. Abu Umoru for Apa, Jonathan Torhee for Buruku, Joseph Tsekaa for Gboko, Amos Aho for Guma, Donald Kertyo for Logo, Linus for Makurdi and Sunday

Mark for Ohimini Local Government. Others are Roy Ashirga for Tarka, Teryima Nguher for Ukum, John Chia for Vandeiya, Innocent Onuh for Otupko, Emmanuel Abah for Ogbadibo, Bright Igodo for Oju and Paul Ikwe for Obi Local Government. According to the letter, which transmitted the list to the House, the remaining caretaker committees for the local governments of Ushongo, Gwer West and East, Kwande Okpokwu and Ado will be forwarded to the House.

should be based on a case value.” He said the no case submission, can't stand in the case under review, adding that such step would pave way for the accused persons to escape justice through back door. However, the court has reserved ruling till March 31 on whether Wasila Tasiu, 14, has a case to answer under the law.

Mark tasks security on Benue massacre

isturbed by the recent massacre of his constituents in Agatu Local Government area of Benue State, the Senate President, David Mark, yesterday tasked security operatives to fish out the assassins and bring them to justice. Scores of indigenes of Egba community in Agatu Local Government were reportedly ambushed and murdered in cold blood by assailants believed to be Fulani herdsmen in the early hours of Monday. Reacting to the incident after some of his constituents briefed him on the development, Mark expressed grieve over the incident and wondered why his constituents would continue to be killed by their supposed neighbours without justification. He said: “This is condemnable. This guerrilla warfare must stop. All hands must be on deck to put an end to this. “Whatever the issue is, resort to violence or killings cannot bring any solution. We must come together and resolve the matter. This barbaric act is condemnable by any right thinking members of the society.” He, however, called for an aggressive security operation to fish out the hoodlums in order to bring them to justice and end the carnage in the area. The governments of Benue and Nasarawa States had last year waded into the protracted conflict between Agatu and the Fulani herdsmen, during which a peace pact was signed. However, Mark was of the view that a joint commission, specifically to address the problem had become imperative to forestall further outbreak of violence and killings.

APC accuses police of harassment in Jigawa Mojeed Alabi

he national secretariat of the All Progressives Congress (APC) has accused the Divisional Police Officer of Birniwa area of Jigawa State, Sale Abdulhamid, of harassing its members. In a statement issued in Abuja yesterday and signed by the party’s National Publicity Secretary, Alhaji Lai Mohammed, Abdulhamid was accused of detaining the party’s Secretary, Umar Bappa and an elder, Alhaji Rabiu Hamza for more than 48 hours

without any charge being brought against them. Mohammed said: “The DPO has also stopped APC from campaigning on the grounds that the party did not obtain permits, while he has requested that the APC remove all its posters and banners from the streets. This is not right.” The party called on the Inspector-General of Police to call Adulhamid to order and to impress it upon him that as an officer of the law, “he cannot continue to engage in brazen lawlessness, as he has been doing."

50 News

WORLD | News

Ignore Adams on Jega’s removal, ADU boss tells Yoruba

Israeli voters decide Netanyahu’s fate

Biodun Oyeleye Ilorin

enowned social critic and National President of Afonja Descendants Union (ADU) of Ilorin, Alhaji AbdulKareem Olola-Kasum, yesterday asked sons and daughters of Yoruba nation to shun the call for the resignation of Professor Attahiru Jega as chairman of the Independent National Electoral Commission (INEC) being championed by the National President of

Oodua People’s Congress (OPC), Otunba Gani Adams. Olola-Kasum, in a statement he made available to newsmen in Ilorin, Kwara State, lamented that Adams appeared to have lost the original focus of the OPC and is now set up against his former ideological strongholds and allegedly embarrassing his former benefactors. Adams had on Monday led hundreds of members of the OPC in a protest on the streets of Lagos, along with some support groups of the President,

Goodluck Jonathan, asking for the resignation of Jega on account of alleged failure of the INEC boss to undertake a transparent process leading to the forthcoming election. But Olola-Kasum, who claimed to have been the third member of the trio, including Adams and Chief Fredrick Fasheun that started the OPC in Century Hotel in 1993, expressed concerns that the incumbent National Coordinator of the OPC, by his participation in the anti-Jega protest, has derailed from the original idea of the organisation.

Stop harassing us, APC tells Police in Jigawa Temitope Ogunbanke

he All Progressives Congress (APC) has asked the police in the Birniwa Local Government Area of Jigawa State to stop the incessant harassment and intimidation of its members in the area, saying the police is a national institution that should always be neutral and non-partisan.  APC, in a statement issued in Abuja yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, alleged that the DPO of Birniwa, DSP

Sale M. Abdulhamid, has recently clamped down APC members and supporters in the area, putting at least, two of their leaders in detention.   It said APC Secretary, Umar Bappa and an elder of the party, Alhaji Rabiu Hamza, have been detained now for over 48 hours without any charges being brought against them, in violation of the law.  ‘’The DPO has also stopped APC from campaigning on the grounds that the party did not obtain permits, while he has requested that the APC should remove all its post-

ers and banners from the streets. This is not right,’’ APC said.  The party called on the InspectorGeneral of Police to call the DPO to order and to impress it upon him that as an officer of the law, he cannot continue to engage in brazen lawlessness, as he has been doing.  ‘’If the DPO feels beholden to the PDP or any other party, he is free to shed his uniform, resign from the police and join any party of his choice. Until then, he is wrong to favour one party over another. He should stop disgracing the police,’’ it said.

UBA Foundation sponsors screening on postrate cancer Segun Edwards

igeria’s foremost financial institution, the United Bank for Africa, through one of its subsidiaries, the UBA Foundation, has sponsored screening on Postrate cancer in various designated centres across the country, as part of its annual Postrate Cancer awareness campaign across Africa. Stating that the event was part of its Corporate

Social Responsibility (CSR), the bank said the annual event was meant to raise awareness on prostate cancer, which is a curable disease when detected early. UBA Foundation has taken up the mission to raise awareness on prostate cancer to help prevent the avoidable deaths that arise from the disease. It stated that the Prostate cancer awareness day, which took place on Saturday, March 14,

2014, leveraged on a mix of sporting activities to raise awareness on the disease. The events, which included jogging, aerobic exercises and soccer, took place in Nigeria and in 18 other African countries where UBA has subsidiaries. In Nigeria, the UBA Foundation also sponsored free prostate cancer screening at the National Stadium Surulere in Lagos, on Saturday, March 14, 2014.

Journalists mark international women’s day Isioma Madike

‘R

eport Women: Make It Happen’ was the theme of a share-fair amongst journalists held March 13 to commemorate the ‘International Women’s Day’. The event was organised by the Wole Soyinka Centre for Investigative Journalism (WSCIJ) and its partner, the Netherlands Embassy, to contribute to improving the quality, quantum and perhaps impact of reportage on girls

and women and to better mainstream gender into news reporting. The forum brought together journalists and members of Non-Governmental Organisations (NGOs) to reflect on the challenges facing Nigerian girls and women. The idea was to build the capacity of participants while lending a voice to the theme of the 2015 United Nations International Women’s Day – Make It Happen. At the meeting, five journalists, who were commis-

sioned by WSCIJ to investigative and publish stories on girls and women issues ranging from widowhood, to Female Genital Mutilation and Human Trafficking, had opportunity to share their experiences with colleagues. The journalists are Isioma Madike of New Telegraph, Simon Ateba of The News, Abiose AdamsAdelaja of International Centre for Investigative Reporting, Tosin OladosuAdebowale of World Pulse and Bamgbose Temiloluwa of Flair Nigeria.

illions of Israelis turned out to vote yesterday in a tightly-fought election, with Prime Minister Benjamin Netanyahu facing an uphill battle to defeat a strong campaign by the center-left opposition to deny him a fourth term in office. In many respects the election has turned into a referendum on “Bibi” Netanyahu, 65, who has been in power for a total of nine years spread over three terms. If he wins he would be on track to become Israel’s longestserving prime minister, but would probably also prolong a prickly rela-

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

tionship with the country’s main ally, the United States, at least as long as Barack Obama is in the White House. Netanyahu has focused on the threat from Iran’s nuclear program and militant Islam. But many Israelis say they are tiring of this message, and the center-left’s campaign on social and economic issues, especially the high cost of housing and everyday living in Israel, appears to have won support. In a possible sign of edginess, Netanyahu took to Facebook to denounce what he said was an effort by left-wing non-profit groups to get Arab-Israelis out to sway the election against him. “The right-

wing government is in danger,” he wrote. “Arab voters are going to vote in droves. Left-wing NGOs are bringing them in buses.” When the last opinion polls were published on March 13, the center-left Zionist Union led by Isaac Herzog held a four-seat lead over Netanyahu’s Likud, a margin that had the opposition set for a surprise victory. But in the last days of campaigning, Netanyahu fought to shore up his Likud base and lure voters from other right-wing, nationalist parties, promising more building of Jewish settlements and saying the Palestinians would not get their own state if he were re-elected.

Netanyahu stands with his wife ,Sara as he speaks to the media after voting in Israel’s parliamentary elections in Jerusalem yesterday.

Mediators arrive Mali to salvage peace talks

iplomats arrived in northern Mali’s Kidal by helicopter yesterday for talks aimed at salvaging a peace process one day after rebels rejected a UN-brokered deal. Rebels and northern community leaders said Monday the a proposed deal, which took months to thrash out and had already been signed by the government based in the southern capital of Bamako, did not go far enough in meeting their demands for autonomy. A collapse in peace talks could leave open the

question of north Mali’s political status indefinitely, a factor that may be exploited by Islamist militants active in the region. Hundreds of residents marched in the Tuareg stronghold yesterday carrying banners saying “We won’t sign” and waving flags for a region they call Azawad, witnesses said. “This decision is entirely theirs,” Pierre Buyoya, high representative of the African Union for Mali and the Sahel, told Radio France Internationale in Kidal. “Our mission is to

encourage them to take the right decision which is to sign.”UN and other mediators are also attending the meeting, said a spokesman for the UN mission in Mali, MINUSMA. The proposed deal aims to end decades of insurgency by Tuareg rebels. They last rose up in 2012 and briefly allied themselves with Islamist militants to seize the desert north. A French-led military intervention scattered the Islamists but the political status of the north has remained unresolved.

Pakistan hangs 12 convicts

akistan hanged 12 convicts yesterday, the Interior Ministry said, amid a growing uproar over plans to execute a man whose lawyers say was 14 when he was tortured into a confession of killing a child. Yesterday’s hangings, including one man whose lawyers say he was arrested when he was 16, were the largest number of people executed on the same day since an unoffi-

cial moratorium on capital punishment was lifted in December. The death sentence cannot be used against a defendant under the age of 18 when the crime was committed. Testimony obtained by torture is inadmissible. Pakistan says the ages of the defendants whose lawyers say they were juveniles is unclear. Prime Minister Nawaz Sharif lifted the moratorium on Dec. 17, a day af-

ter Pakistani Taliban gunmen attacked a school and killed 134 students and 19 adults. The killings put pressure the government to do more to tackle the Islamist insurgency. At first, the government said only militants would be executed. But last week it emerged that officials had quietly widened the policy for all prisoners on death row whose appeals had been rejected.

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

News

International Sport

Rackets & Bats

AYC 54

I’m ready for Eagles challenge-Ighalo

Man City can defeat Barcelona, says Lampard

Quadri opens German tourney account today

Sport

Final ticket up for grabs as Eagles, Satellites clash

Did you know? That Ronaldinho’s deal with Coca-Cola, worth around £500,000 annually, ended after he was caught sipping a Pepsi at a news conference in July 2012 during his time at Brazilian club, Atletico Mineiro.

Temile knocks NFF over Eagles job delay

•Advises Keshi to walk away Vincent Eboigbe

former Nigeria international, Clement Temile, has stated that the Nigeria Football Federation is to blame for the unresolved negotiation with out of contract Super Eagles coach, Stephen Keshi. Temile argued that it was the call of the federation whether to sack Keshi or not and should not give the impression that it is being constrained in anyway, in an apparent reference to the vaunted presidency position in the whole saga. The NFF and Keshi have been involved in a long-running contract negotiation that culminated in the body offering the coach a new deal that he (the coach) described as ‘a slave contract’. Temile is miffed at the entire episode that has dragged on since after the World Cup in Brazil in 2014, when Keshi’s con-

tract expired. He insisted that the Glass House had shown a marked indecisiveness in its handling of the issue. “The NFF has a responsibility to hire and fire its coaches, so the question that begs for answer is what is stopping the federation? As president of the NFF if you can’t sack your employee then there is a problem,” Temile said. “I don’t subscribe to the argument that President Goodluck Jonathan is the one stopping Keshi’s sacking. The NFF president, Amaju Pinnick, should be firm and take a decision, after all he is the one elected to run the game in the country. He is the one shirking that responsibility and should be held to account. There is no use attempting to shift the blame elsewhere.” Temile was Keshi’s teammate at the African Nations Cup in Cote d’Ivoire in 1984, where the Eagles won silver medal.

He advised the “Big Boss” to do the honourable thing by walking away. “Keshi can’t keep holding the entire country to ransom; he is just one man and is not the only coach in Nigeria,” Temile added. “Yes he won the Nations Cup in 2013 for which he got the credit but we need to move on. Apart from failing to qualify for the last AFCON, there were several issues in the team traceable to his actions. I think he should have resigned long ago; I am ashamed that he k e e p s hanging on.” The Super Eagles play Bolivia on March 26, in Uyo, before flying to South Africa to confront Bafana Bafana three days later. In the absence of a substantive coach, Daniel Amokachi, who had stepped in in the past, has been called upon once again to lead the team out in the double friendly internationals.

Keshi

Ideye, Moses make Eagles return •Amokachi drops Emenike, invites Ighalo, Ujah Emmanuel Tobi

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Moses (right)

fter a long absence from the national team, Brown Ideye, Victor Moses and John Ogu, have been recalled to the Super Eagles for the friendly matches against Bolivia at the Akwa Ibom International Stadium on March 26 and South Africa three days later in Nelspruit. Interim coach, Daniel Amokachi, who is expected to handle both matches, also extended invitations to inform strikers, FC Cologne’s Anthony Ujah, Watford’ Odion Ighalo and Genk’s Moses Simeon. Notable absentees in the 28-man team list include injured Chelsea midfielder, Mikel Obi, Celtic of Scotland defender, Efe Ambrose, and Emmanuel Emenike, who has been struggling to make

impact at his Turkish club, Fernabache. Also 10 home-based players led by Kano Pillars’ goalkeeper Theophilus Afelokhai and Enyimba striker, Mfon Udoh, are listed in the team.

TEAM LIST

Goalkeepers: Vincent Enyeama (Lille OSC, France); Theophilus Afelokhai (Kano Pillars); Chidiebere Eze (Ifeanyi Ubah United) Defenders: Chima Akas (Sharks FC); Godfrey Oboabona (Rizespor FC, Turkey); Azubuike Egwuekwe (Warri Wolves); Nelson Ogbonnaya (Heartland FC) Kenneth Omeruo (Middlesbrough FC, England); Akeem Latifu (Aalesunds FC, Norway); Leon Balogun (Darmstadt 98, Germany)

Midfielders: Ogenyi Onazi (SS Lazio, Italy); Steven Ukoh (BielBienne FC, Switzerland); Omatsone Aluko (Hull City, England); Joseph Nathaniel (Sharks FC); Kingsley Sokari (Enyimba FC Hope Akpan (Reading FC, England); John Ogu (Hapoel Be’er Sheva, Israel); Babatunde Michael (Volyn Lutsk, Ukraine) Forwards: Ahmed Musa (CSKA Moscow, Russia); Aaron Samuel (Guangzhou R&F, China); Brown Ideye (West Brom, England); Odion Ighalo (Watford FC, England); Anthony Ujah (FC Cologne, Germany); Moses Simon (KAA Gent, Belgium); Ubong Moses (Kano Pillars); Stanley Dimgba (Warri Wolves); Mfon Udoh (Enyimba FC); Standby – Victor Moses (Stoke City, England).

Sport

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

Reps stops NFF from returning FG money

Michael Babatunde (middle) in action agait Argentina

he House Committee on Sports led by Godfrey Gaiya ruled on Tuesday that the Nigeria Football Federation should not return the $3.6million “borrowed” from the federal government during the last FIFA World Cup in Brazil. The Federation had deducted the money from the $8.5million paid to it by FIFA as part of its World Cup appearance fee. Mr. Gaiya, during the budget hearing, said it was “alien” to return the $3.6million to the government. “Money for intervention for sports under the Presidency is N5 billion and the money was taken out of it so no need to return it,” he said.

The committee advised the NFF, instead, to use the money accrued from FIFA to cater for the federation’s programs in 2015. It added that based on this, it would cut fresh monies to the NFF in its 2015 budget. “The ruling of the house of representative was that the money kept by the NFF should be used for the 2015 affairs,” Gaiya said. “Work with the $8.5million and break it down and let’s look at it and pass it so it can be captured in the 2015 budget appropriation. Write the parliament, copy the senate committee chairman that the ruling was that the money shouldn’t be seen as a loan,

nobody should pay back because it has been expended.”

Ifeanyi Ibeh

turnaround in his fortunes at the Hawthorns, after a slow start and has now scored seven goals in all competitions for the Baggies. “So happy to be back with the National Team #SuperEagles #keepbelieving,” he tweeted. Also, Hapoel Beer Sheva of Israel midfielder, John Ogu, expressed delight over his return to the Super Eagles. Ogu writing on his Instagram page said, “Thank you lord for I was invited to represent my country Nigeria in the friendly games against Bolivia in Uyo and against South Africa.”

“It is a thing of joy to represent my country and I want to use this opportunity to say a big thank you to almighty God, and to Hapoel Beer Sheva for believing in me and to everyone who has made this possible and to my fans who always believed in my qualities.” Similarly, Volyn of Ukraine midfielder, Babatunde Michael said,“I’m very excited to have been recalled. I missed the last few games due to the injury which kept me out and it was a disappointing time for me. But now everything is good again and I am happy to be back.

Pinnick

Insecurity: Bolivia FA Ideye, Ogu, Babatunde relish Eagles’ return cancels Eagles friendly

he Bolivian Football Federation on Tuesday called off next week’s international friendly game against the Super Eagles billed for the Akwa Ibom international stadium for fear of Islamic terrorist group, Boko Haram. Carlos Chavez, President of the Federation said at a press conference in the eastern city of Santa Cruz that the FBF did not bow to the wish of national team coach, Mauricio Soria who wanted the match cancelled be-

cause of the distance between Nigeria and Bolivia. Soria had requested last week that the Bolivia-Nigeria clash should be cancelled because the trip would last five days. “The armed conflict in Nigeria and the tense political situation forced the cancellation of the game,” said Chavez Chavez expects there will be no financial penalty for breach of contract signed by Full Play and FIFA agent who organized the meeting, Colombian Jairo Pachon.

CAF orders Dolphins to remain in Tunis Charles Ogundiya

he Confederation of African Football has order Nigeria representatives, Dolphins FC to remain in Tunis until a decision is taken on their contentious CAF Confederation Cup first round, first leg match with Tunisian giants Club Africain after they were walked over at the weekend. In a mail received from the Deputy Director (CAF Competitions), Khaled Nassar on Monday evening, CAF instructed that the Port Harcourt-based side stayed back in Tunis until

a decision by the Confederation was communicated to the NFF. “Reference to the above mentioned match which was initially scheduled for March 14, 2015, we would like to request your team Dolphin to stay in Tunis until a decision is reached and communicated to you,” wrote Nassar. Dolphins FC were to play Club Africain in Tunis on Saturday by 3pm, and the team arrived in the city at 1pm aboard an Emirates Airline flight from Dubai, only for immigration authorities to take two hours to issue the team entry visas into the country.

Teams set to vie for Edo FA Cup

wenty men’s and women’s teams in Edo State are set to begin battle for the top prizes in both categories of the state FA Cup. An elaborate draws ceremony and presentation of trophies for the competition was held on Monday at the media centre of the Samuel Ogbemudia Stadium, Benin City. The competition begins on March 31, with Ine Stars battling Press Stars in the opening game in the men’s category while the finals of both events is scheduled for the Samuel Ogbemudia Stadium, Benin City, on April 5. The winners’ trophy christened the Adams Oshiomhole Cup was donated by former Nigeria player and coach, Austin Eguavoen, while the Pius Odu-

bu Cup for the losing finalists was donated by Osaro Asemota. The third-place winners’ trophy was donated by the Secretary to the Edo State Government, Prof Julius Ihonvbere. Other personalities that donated trophies were Godwin Dudu-Orumen (MVP and N50, 000 cash), Mike Itemuagbor (Best Defender) and Chris Okaeben, a former sports commissioner in the state (Best Goalkeeper). Financier of the Edo State U-13 Grassroots Football Tournament, Emmanuel Uso, also donated a trophy for the Best Young Player of the competition. The state’s Commissioner for Sports, Presley Ediagbonya, commended Edo FA chairman, Frank IIaboya, for bringing a new dimension to the Edo FA Cup.

est Bromwich Albion striker, Brown Ideye, has expressed joy over his recent recall to the Nigeria national team, after being out for over a year. The 26-year old has seen a

NFF confirms Pascal, Ibitoye appointments

he Nigeria Football Federation on Tuesday confirmed the appointments of Mr. Pascal Patrick (MON) and Mr. Toyin Ibitoye into the backroom crew of the Senior National Football Team, Super Eagles. Patrick, a former Nigeria international player, will resume as Team Coordinator, while Ibitoye, a frontline broadcast journalist, will become the team’s Media Officer, with immediate effect. Patrick, replaces Emmanuel Attah, while Ibitoye, who has a postgraduate diploma in sports management from the Nelson Mandela Metropolitan University in Port Elizabeth, South Africa, replaces Benjamin Alaiya, who has held the position since December 2011. Godfirst Chike will also become the Equipment Manager, replacing Chidi Ngoka.

Ogu (right) in action against South Africa

Quarterfinal begins at GTBank-Ogun Principal’s Cup Emmanuel Tobi

uarterfinal matches of the Season Three of the GTBank-Ogun state Principal’s Cup have been scheduled for March 18 to 19th at the MKO Abiola International Stadium, Abeokuta. In the first match billed for Wednesday, Our Lady Of Apostles Senior Secondary School, Ijebu Ode, will play Ikenne Community High School, Ikenne Remo, at 10am while Remo Divisional High School, Sagamu, play St Anthonys Grammar School, Esure, Ijebu

Mushin, in the second match in the female category. In the boys’ category, Idomila Comprehensive High School, Ijebu Ode, will battle Ode Remo High School, Iraye Road Odo, as Makun High School, Sagamu, confronts Anthonys Grammar School, Esure, Ijebu Mushin, in the last match of the day. Action resumes on Thursday in the girls’ categories with United Comprehensive High School, Wasimi, playing Community Senior High School, Ijoun Yewa North, as Ajogbo Senior Grammar School, Aji-

bode, and Ota Muslim High School, Isolu Abeokuta, battle for the semifinal ticket. Similarly, in the boys’ category, Asero Senior High School, Abeokuta, will battle Community Senior High School, Tube Ipokia, while Itolu Community Senior High School, Ilaro Yewa, play Pakoto Senior High School, Ayede Ifo. 344 teams participated from the four zones (Egba, Ijebu, Remo and Yewa) of the state with two representatives for both boys and girls categories from each zones qualifying to play at the quarterfinals stage.

International Sport 53

NEW TELEGRAPH WEDNESDAY, MARCH 18, 2015

Man City can defeat Barcelona, says Lampard •Iniesta wants punishment for visitors

rank Lampard has insisted that Manchester City are capable of stunning Barcelona to reach the Champions League quarterfinals. The Premier League champions travel to the Camp Nou on Wednesday looking to overturn a 2-1 first-leg deficit in the last 16. “There’s nothing wrong with been written off,” he told the club’s official website. “We’re certainly still in the tie though if it had been 3-1 or 4-1 in their favour, it would be a bit more understandable. Make no bones about it – Bar-

celona are obviously favourites; they’re ahead 2-1 and they are at home so they have the advantage, but we have the quality at this club to turn this game around.” Meanwhile, Andres Iniesta has called on Barcelona to make Manchester City “suffer” during the sides’ Champions League meeting at Camp Nou. “We’ll have to go out there and play in a very comprehensive manner. We need to have lots of possession so that they suffer and have to follow the ball,” he said.

Holyfield, Romney fight for Charity

Holyfield

itt Romney, former Massachusetts governor and 2012 Republican presidential candidate, Mitt Romney, will be stepping into the ring with former World Heavyweight Champion Evander Holyfield. The 68-year-old former Republican Party presidential nominee is joining Mr. Holyfield for a charity event that aims to bring medical care to impoverished areas around the globe. “It will either be a very short fight, or I will be knocked unconscious,” Mr. Romney told the Salt Lake Tribune on Monday.

CHAMPIONS LEAGUE FIXTURES Barcelona vs Manchester City

8.45pm

Dortmund vs Juventus

8.45pm

Sunderland appoint Advocaat Klopp eyes home advantage

underland have announced the appointment of Dick Advocaat as head coach until the end of the season following the sacking of Gus Poyet on Monday. The Uruguayan was shown the door after the Black Cats slumped to just one point above the relegation zone following Saturday’s 4-0 defeat to Aston Villa. The North-East outfit welcomed Advocaat to the

club, and the 67-year-old takes over with plenty of managerial experience having coached the Netherlands national team, Rangers, Belgium and PSV Eindhoven during his career. Advocaat told the club’s official website: “Sunderland is a big club and I am very much looking forward to the challenge ahead. We must now concentrate on Saturday as a priority and I can’t wait to get started.”

orussia Dortmund coach Jurgen Klopp is counting on the Westfalenstadion to make the difference when his side host Juventus on Wednesday night. Trailing 2-1 from the first leg of their Champions League last-16 tie, Klopp says the imposing venue could prove to be his side’s key weapon as they look to oust the Serie A leaders and join Bundesliga colleagues Bayern Munich in Friday’s quarterfinal draw. “This stadium is extraordinary,” he told UEFA.com. “It’s really the coolest thing about this club.”

Quadri opens German tourney account today with Ajibade Olusesan 0706 537 7853

Onaolapo targets Spanish Open

able tennis prodigy, Ojo Onaolapo, did not go back to his base in Italy after the International Table Tennis Federation World Tour in Lagos last week, preferring to prepare for the forthcoming Spanish Open in Akure, his home town. Onaolapo who lost his Lagos Open U-21 title and crashed out in the semifinal of the men’s singles of this year’s edition said that he skipped the ongoing German Open so that he would be in top shape for the Spanish Open which takes place between March 25 and 29 in Almeria. “If you planned to win a tournament and it did not come to pass you cannot kill yourself but look forward to another opportunity,” he said after losing to Aruna Quadri in the men’s singles semifinal of the Lagos Open. “I am not going back to my club for now. I want to train for the Spanish Open with my coach and from there I will move to Spain for the tournament.”

nternational Table Tennis Federation Star Player of the Year, Aruna Quadri, will today (Wednesday) play his first game in the on-going GAC Group World Tour, German Open as the tournament takes centre stage. His opponent in the preliminary round is yet to be determined as he awaits the result of the round of 256 match between Mohr Julian of Germany and Lee ChiaShengm of China Tapei . Aruna who lost in the final of the Lagos Open to Omar Assar of Egypt last Saturday will play on Table

16 at the tournament which is taking place in the city of Bremen. The Oyo State-born player has endured a poor start to 2015 as he followed up his shock ouster in the quarterfinal of the ITTF Africa Seniour Championship in Cairo with first round eliminations in both Qatar and Kuwait Opens before another loss in front of the disappointed home crowd in the final of Lagos Open last weekend. Another Nigerian, Kazeem Makanjuola, also entered for the German Open and he will confront Kim Minhyeok of Korea in the round of 256 also today.

Quadri

However, the duo will tomorrow (Thursday) team up for the round of 64 men’s

doubles match against Mohr Julian and Scheja Dominik of Germany.

Tunisia 2015 AJC: Nigeria qualify for quarterfinals in doubles

igeria has qualified for the quarterfinal of the girls’ U-14 doubles at the ongoing 38th ITF/CAT African Junior Tennis Championship in Tunisia as the pair of Oyinlomo Quadri and Charity Patrick defeated Evelyn Kwizora of Rwanda and Jackline Kayuga of Tanzania 6-0, 6-1. The Nigerians went

into the match in contrasting mood with Quadri progressing into the next round of the girls’ U-14 singles while Patrick was defeated by Kermene Kpadonou of Benin Republic in the first round of the singles. However, they were able to put their acts together with an impressive display to set up a quar-

terfinal clash with Moroccoan duo of Hiba El Kalifi and Oumaima Aziz who were drawn bye. But the feat achieved by Quadri and Patrick could not be matched by Ayoola Micheal and Michael Oshewa as they were defeated by Algeria’s Mohamed Rahim and Youcef Rihane 6-3, 7-5.

In some of the first round matches involving Nigerian players, Angel Macleod will battle No. four seed, Zani Barnard of South Africa today while in the Boys’ U-16, Martins Abamu will meet Mohamed Aziz Ouakaa of Tunisia with the winner going on to face Mohamed Ghshuot of Libya in the quarterfinal.

Sport

WEDNESDAY, MARCH 18, 2015 NEW TELEGRAPH

senegal 2015 AYC

Final ticket up for grabs as F’ Eagles, Satellites clash Stories by Ifeanyi Ibeh

ternal rivals, Nigeria and Ghana, will today (Wednesday) square off in the Senegalese capital, Dakar, for a place in the final of the CAF African U-20 Championship. The Flying Eagles, who are seeking a seventh African title, easily won Group A with seven points, while three-time winners, the Black Satellites, were runners-up in Group B with six points.

However the Ghanaians have the advantage when it comes to head-to-head records, having won four out of their previous five meetings with the Nigerians, whose only win over the Black Satellites came in the last meeting between both sides at the 2011 championship in South Africa. Most recently though, in February, the Flying Eagles played two friendly matches in Ghana prior to the championship, drawing 2-2 in Accra before winning 2-0 in Tema.

FIXTURES

Nigeria vs Ghana

6.00pm

Senegal vs Mali

6.00pm

And with their fine run of form so far in Senegal, that has seen them score an impressive nine goals in three games.The Nigerians will also be boosted with the return from suspension of first-choice goalkeeper, Joshua Enaholo, and exciting midfielder, Ifeanyi Matthew, who has accounted for two of Nigeria’s nine goals. Ghana may likely be without striker, Benjamin Tetteh, who was left out of his side’s disappointing 1-0 loss to Mali on Sunday, but Granada of Spain midfielder, Clifford Aboagye, and Manchester City starlet, Yaw Yeboah, will hope to make up for the absence of the big striker.

Flying eagles of Nigeria

Ojo confident of victory

oalkeeper of the Nigeria U-20 side, Olorunleke Ojo, has expressed optimism that his side will claim a resounding victory over Ghana in Wednesday’s semifinal clash at the Leopold Sedar Senghor Stadium in Dakar. Ojo, who was in goal for Nigeria during the country’s last group stage encounter against

Cote d’Ivoire, told SL10.com: “We are going into the game (on Wednesday) with confidence and concentration. Our mindset is to win the game and we believe we have what it takes to do so. He added: “We have beaten them before (in a friendly) and by God’s grace we will do it again (on Wednesday).”

Ghana duo ready for Nigeria grudge match

G Seidu

hana U-20 goalkeeper, Mutawakilu Seidu, and midfielder, Prosper Kassim, have stated that Wednesday’s African U-20 Championship semifinal clash against Nigeria is a big match, adding that they are pumped up for the game.

Clubs to provide match tickets

Hearts of Oak goalkeeper, Seidu, has blown hot and cold at the championship but he told Ghanasoccernet.com that he was looking forward to having a good game against the Flying Eagles. “It’s a big game where you don’t need to be motivated.

Nigerian League Rendezvous

This is Ghana against Nigeria,” said Seidu. He added: “For me everything is team work and I am ready for it Insha Allah.” Kassim also said he was looking forward to taking on the Flying Eagles in Wednes-

with charles Ogundiya

charlesog2001@yahoo.com,

08098042287

here are strong indications that clubs campaigning in the Nigeria Professional Football League might be mandated by the League Management Company to provide official match tickets for home games. According to a report monitored by League Rendezvous, the new board headed by Shehu Dikko, as part of its efforts aimed at improving the league, has encouraged clubs to print and issue tickets to fans so as to track attendance. The LMC at the beginning of the new season introduced cash-for-crowd reward whereby the participating clubs stand a chance of earning additional cash through the number of fans attending their home matches. The reward for improved fans attendance is also another way to put the clubs on their toes and ensure they fashion out ways of bringing back fans to the stadia for the domestic league. Speaking to our correspondent on the printing of tickets for matches, the Acting Secretary of the Club Owners, Alloy Chukwuemeka, said the clubs had been notified of the development. “The LMC has already notified clubs on that and the process will start nationwide in the next matches alongside other safety measures,” Chukwuemeka said.

Samuel Agba of Rangers (right) challenging Chiamaka Madu of Sharks

day’s highly anticipated clash. “We have a big game and we are all aware of how big this game is,” said the Inter Allies player. “Nigeria is a big footballing nation and I am sure that the players are aware of what Ghana is also.” He added: “As for me I am looking forward to playing in the game.”

Rangers’ bottled water

ans of one of the traditional clubs in the Nigeria Professional Football League, Rangers International of Enugu, were treated to an innovation by the management of the club at the weekend. The official bottled water bearing the name of the club, with the inscription ‘Rangers International FC appreciates your support’ was on sale at the stadium. One of the fans at the stadium informed League Rendezvous that it was a nice innovation by the club. “When I saw the water, I was surprised because it was a new thing, a good way of merchandising,” the fan said. “The money that will accrue from the sale of the water will also go a long way in supporting the club and hopefully reduce the burden on the government.” The water sells for N100 per bottle while the gate fee for a home game also stands at N100 for popular side and N200 for the covered pavilion

Too early for controversies

ust two weeks into the Nigeria Professional Football League 2015 season, controversies have started creeping in regarding the identity of a goal scorer. The goal scored by Sharks in the 44th minute of the game was amazingly credited against Rangers to three different players. Immediately the goal was scored, the League Management Company official

report credited the goal to Yusuf Jaiyeola while after the game, former Crown FC striker, Bode Daniel, posted on his Facebook page that he scored the goal against Rangers. “Glory be to God for the injury free game and special thanks to HIM for my first goal of the season, Rangers 2 - 1 Sharks,” Daniel posted. However, in a release by the media officer of

Sharks, Peter Abaje, the goal was credited to Frederick Obomate. In his report Abaje said: “Three minutes after Rangers shot into the lead, Frederick Obomate equalised for Sharks via a well taken free kick at the edge of the box.” To avoid such controversy, the LMC and the club managements should provide more cameras at match venues.

Rangers table water

NEW TELEGRAPH WEDNESday, March 18, 2015

On Marble

Nothing great was ever achieved without enthusiasm. – Ralph Waldo Emerson

World Record

Sanctity of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

WEDNESDAY, MARCH 18, 2015

N150

Oldest-living Head of State: Telmo Oswaldo Vargas Benalcázar (born October 9, 1912) was Chief of Staff of Armed Forces of Ecuador, who overthrew the military junta of Ramón Castro Jijón on 29 March 1966.

Surmountable electoral vulnerabilities

he 2015 elections must be substantially free, fair, transparent and peaceful. This is achievable even with all the challenges encountered during the party primary elections and electioneering campaigns. To achieve this, the Nigerian people, the political parties and the electoral management body must pay close attention to some recurrent and new electoral vulnerabilities. These challenges among others will be present on Election Day and thereafter and how they are handled will have great impact on the outcome and quality of the elections. Safety of the Card Readers Card Readers will be used in the 2015 elections and this is the first time that the electoral management body is deploying it for elections. The Card Reader will verify the biometrics of the holder of the Permanent Voters Card and authenticate the finger print of the holder. Thereafter the holder will be given a ballot paper for purposes of voting. In other words, the Card Reader and the Permanent Voters Card are mechanism designed for quality control and accreditation purposes. Ballot papers will be used for voting and it is the ballot papers that will be counted on Election Day. To get to the ballot papers and casting of votes and matching the accredited voters to the votes cast, the Card Readers must be safeguarded and used for accreditation. It is important to design mechanisms of protecting the Card Readers. Desperate politicians and their thugs can disrupt the accreditation and voting process through hijacking the Card Readers and or destroying them. In this wise, the electoral management body must issue photo accreditation to Political Party agents and insist that they must submit the names of their agents to the Commission at least seven days before elections. This will domicile the party Agents to particular polling stations and put faces to their names. The security agencies must also be vigilant as some of them are nonchalant and hardly understand their remit on Election Day. They must understand that crisis will erupt at polling units if the Card Reader is snatched or destroyed. Vigilance by security agents and the voters is the key word in the protection of the Card Readers. The Safety of Poll Official Some of the Youth Corp members that will serve as Presiding Officers are the hope and light of their various families. Some volunteered to serve out of patriotic instincts while some need the small stipend that will accrue to them. They want to serve and it must be seen as such. Volunteering to serve must not translate to suicide. The voters and the communities must see it as their duty to keep poll officials safe. The security agencies must also pay close attention to the safety of poll officials. We must resolve that no poll official must be harmed in the course

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only) Community Voting and or Conspiracy Most of the Political Parties understand that ultimately, the main determinant of the result of the election will be the votes cast on Election Day. The implication is that leaders of communities may close out areas where they believe is their catchment area and undermine the use of the Card Readers and or come to the polling units with the Permanent Voters Cards they have bought and put pressure on the poll officials to cooperate and or be in trouble. Some of the candidates and the parties still believe that the central server where the data from the Card Readers will be transmitted is only a theoretical constructs and may not really function. They may go ahead and do what they want and wait for their opponents to go to court.

Jega

of the 2015 elections. And anybody that attempts to harm and or harms a poll official must be brought to justice. PVC authentication and Ballot Papers The Permanent Voters Cards and the names on the register are the condition precedent for voting in the 2015 elections. The Permanent Voters Card allows the voter to go to the polling units for accreditation. The Card Reader verifies that the Permanent Voters Card is a card issued by the electoral management body. The Card Reader thereafter authenticates the fingerprint of the holder and the holder is accredited. Therefore, the function of the Card Readers is limited to accreditation and has nothing to do with the ballot paper and the voting process. It is the ballots by the voters that will be collated and counted and results declared and pasted at the polling units. Political Parties, observers, the security agencies and the voters must therefore make sure that accreditation takes place at the polling units. There are instances in the past where party agents and the voters forced the Presiding Officers to carry out accreditation and voting simultaneously. These are mostly in situations where the Presiding Officers arrived late to the Polling Units. The movement and deployment of the Presiding Officers and pool workers for the March 28, 2015 elections and the subsequent election on April 11, 2015 must be seamless.

Party Agents or Fixers Some of the skull crackers being used by the Parties and candidates during election campaigns will be deployed to the polling units as Party Agents. Some will have the mandate to snatch Card Readers. Others may be deployed to disrupt polling in polling units they consider as vulnerable and or hostile. The Political Parties have a responsibility to train their party agents and inculcate in them the attributes of civility and good electoral conduct. Transport Companies The Independent National Electoral Commission does not have enough vehicles to convey personnel and materials to over 120,000 polling units in the country. They rely on private transporters to supplement their vehicular inadequacy. To this end, they signed a memorandum of understanding with the National Union of Road Transport Workers to facilitate the supply of these vehicles. Some of these vehicles belong to politicians who are actively engaged in the electoral process. Acts of sabotage cannot be ruled out as there are instances in the past where they supplied rickety vehicles to the Commission. There are instances where they collected the monies and disappeared with their vehicles. There are instances where they connived with security officials and drove poll officials to the bush and forced them to do their bidding. Supplementary and or contingency provisions should be made in all the local governments to take care of the possibility of sabotage. Demographic Challenge Some of the polling units in the country are located in difficult ter-

rain. Some of the places can only be accessed by motorbikes and boats. The Supervisory Presiding Officers and Electoral Officers in the various Local Governments must be given the funds to make arrangements to access some of these seemingly inaccessible locations. Election riggers know the geography of these locations and their vulnerabilities and are always handy to offer assistance that leads to the corruption of the electoral process. Who are the Presiding Officers? Youth Corp members and students in tertiary institutions will form the core of Presiding Officers and poll officials on Election Day. The Independent National Electoral Commission must design concrete measures of quality control. There are instances in the past where Political Parties trained their own Presiding Officers and used Electoral Officers in the Local Governments to switch such Presiding Officers. The various Political parties must insist and demand on knowing who the Presiding Officers and poll officials are and demand the withdrawal of those with clearly partisan interest and inclination. Buying up PVC’s in vulnerable constituencies The Politicians and Political Parties that are buying up the Permanent Voters Cards in some constituencies know exactly what they are doing. Some of them have studied the voting pattern and preferences in some of the polling units and constituencies. It is part of the rigging and corruption process to keep voters away from polling units of less electoral worth and get voters to turn up in high numbers in polling units that are sympathetic to a particular candidate. We must continue the cleanup process of the voters register because it is still not clean. The use of biometrics in our electoral system may finally eliminate the possibility of double and under aged registrants. Go to the Court It is next to impossibility to prove electoral malpractices in over 120,000 polling units in a presidential election. In the first place, most of the Presiding Officers are floating and will leave their states of primary assignment on completion of their service. Others are students and former Youth Service members that do not really in the main have a settled abode. It is therefore difficult to get them to give evidence in court. The party agents are sometimes useless and have no knowledge of the workings of the electoral process and cannot help their parties in election petition proceedings. Moreover, the Constitution and the Electoral Act provides that election petitions must be determined within a period of 180 days from the date of the declaration of results. The Political Parties and their candidates know these permutations and will prefer to rig and dare their opponents to go to court.

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotline: 01-8541248, Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: YEMI AJAYI.