Binder1 aug 18, 2014 by Newtelegraphonline

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Monday, August 18, 2014 Vol. 1 No. 181

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Minister’s consent delays unveiling Shell’s $3bn assets’ winners lCompany, buyers sign purchase agreements for four oil blocks lEFCC, DSS conclude probe of sale Adeola Yusuf

hell Petroleum development Company (SPDC) has finalised

key sales and purchase agreements on four oil blocks but the company is awaiting the statutory minister’s consent before

it will announce the winners, New Telegraph has gathered. The company has signed all major docu-

ments on the sale of the assets worth $3 billion while buyers, including Aiteo, Televeras and other winners are already in talks

with lenders on how to raise funds for the assets. SPDC spokesperson, Mr. Precious Okolobo, who confirmed the divestment declined further comments on the transaction, which he described as CONTINUED ON PAGE 4

Chidoka probes contract awards, freezes new jobs

lStakeholders laud minister’s move to sanitise aviation sector Wole Shadare

inister of Aviation, Mr. Osita Chidoka, has ordered all aviation agencies to halt further payment for all capital projects until after verification of the status of the contracts. The minister, who also stopped further recruitment into any of the agencies under the ministry and promotion, directed the parastatals to forward to him the list of all ongoing projects and payment status. In addition, Chidoka told the agencies to suspend further award of contracts on all Information and Communication Technology (ICT) related projects to allow for an audit/appraisal of infrastructure, establish relationship between service, CONTINUED ON PAGE 3

Atiku set to declare for 2015 presidential race }5 Lagos

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Speaker of the House of Representatives, Hon. Aminu Tambuwal (right), receiving his new Permanent Voter’s Card from the Electoral Officer of Tambuwal Local Government Area, Mr. Bello Umar, at Islamiyya Primary School, Tambuwal, Sokoto State, yesterday. With them is one of the supporters of the speaker.

Dangote spends N250m daily on diesel at Ogun cement factory Kunle Olayeni Abeokuta

frica’s richest businessman, Alhaji Aliko Dangote, at the weekend brought to the fore

the sorry state of power supply in the country when he told distributors of Dangote Cement that

he spends between N230 million and N250 million daily on diesel to power Dangote Cement Plant in

Ibeshe, Ogun State. He lamented the epileptic power supply in the country following the

generation of about 4,000 megawatts by the power plants, saying it has adCONTINUED ON PAGE 4

Ebola: ‘Doctors’ sack won’t affect emergency response’

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Monday, August 18, 2014

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Stakeholders laud minister’s move to sanitise aviation sector CONTINUED FROM PAGE 1

professional staff and identify areas of need and to steadily increase remittances of Internally Generated Revenue (IGR) in line with Fiscal Responsibility Act, 2007 and to prepare/ update condition of service and scheme of service. The directives were contained in a letter dated August 11, 2014, sent to the managing directors of the Federal Airports Authority of Nigeria (FAAN), the Nigerian Airspace Management Agency (NAMA), the Nigerian Meteorological Agency (NIMET), the Director General of the Nigerian Civil Aviation Authority (NCAA), Rector, Nigerian College of Aviation Technology (NCAT), Zaria and Accident Investigation Bureau (AIB) The letter entitled, “Re: Briefing of the Honourable Minister of Aviation: Matters Arising” was signed by Deputy Director (Planning), Stephen Okon, and copied to all the agencies. In the letter, a copy of which New Telegraph obtained at the weekend, the chief executives of the aviation agencies were asked to steadily increase their IGR beginning from this year and to immediately stop irregular employment while the update on condition of service and scheme of service in all the agencies are to be concluded by September 23. The letter also told the agencies to either immediately stop all recruitment and promotion matters, further payment for all capital projects until after verification of projects and ensuring that contractors comply with specifications on all contracts, among others. However, experts have welcomed the decision of Chidoka, which they said were necessary to sanitise a sector that has come under heavy criticisms for the way and manner most of the airports remodelling projects were carried out. They noted that the projects were poorly executed while many believed that the extent of work did not match the huge amount of money that was reportedly expended. Speaking to New Telegraph yesterday, former Commandant, Murtala Muhammed Airport, Lagos, Group Capt. John Ojikutu, said the minister had taken the best deci-

sion, urging all to support him in his bid to move the sector forward. He added that the decision was taken in order to verify the actual cost of the projects his predecessor, Ms. Stella Oduah, spent on airports remodelling in view of the over N154 billion debts FAAN incurred, which has greatly slowed down the work after contractors left sites. “We need to know how we arrived at N154 billion debts. What is the IGR of FAAN? Nobody knows. I have sent a paper to the minister, to the Senate President and Speaker, House of Representatives for them to cause investigation into this matter,” he stated. Ojikutu also backed Chidoka for stopping irregular employment into the agencies, adding that over 2,000 persons that were employed three years ago were not skilled personnel. Many of the employed had no experience in the sector, just as the employment cuts across the lower to the highest cadre of directors and general managers with the creation of more directorates without recourse to the Act establishing the agencies, he said. According to him, the minister needs to look at NCAA and NAMA and probe why the aviation regulatory bodies lack aircraft inspectors and there is a shortage of air traffic controllers. “Many of them in NAMA and NCAA are not skilled. Those are technical areas. NAMA is short of 200 controllers. They are not training and that is very dangerous for the overall safety of the sector. The minister has started very well. Let us hope he will continue in that stride. We had many who started well but ended badly. Let us hope he means well,” he said. Also, a former Assistant Secretary General of Airline Operators of Nigeria (AON), Mohammed Tukur, described the action as necessary for the sector to grow. Tukur said while over 400 Nigeria licensed aircraft engineers and pilots were searching for jobs, unskilled persons were employed and appointed general managers less than two years after engagement, adding that the situation has caused bad blood among the workers.

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Company, buyers sign purchase agreements for four oil blocks CONTINUED FROM PAGE 1

“confidential.” “Even the Department of State Security (DSS) and the Economic and Financial Crimes Commission (EFCC) have concluded the probe of the transactions of Shell assets worth $3 billion while all is set for the announcement of winners. But this cannot be done without the statutory minister’s consent,” a source close to the deal said at the weekend. The EFCC and DSS probes are statutory requirements before the deal can be consummated while the Federal Government’s approval through the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, gives the final approval to complete the transaction. Shell is divesting its 30 per cent stake, while Total and ENI are set to sell 10 per cent and five per cent respectively in four Nigerian oil blocks – Oil Mining Leases (OMLs) 18, 24, 25 and 29. The Nigerian National Petroleum Corporation (NNPC) shall retain ownership of the remaining 55 per cent in each of the four leases. Under the ongoing divestment programme, Nigerian-led oil traders, Aiteo and Taleveras, are thought to have won the

race for the largest block, OML 29, beating off competition from fellow local firm, Seplat Petroleum. Aiteo and Taleveras have made the highest bid of $2.85 billion for the biggest of the four Shell assets up for sale. Seplat, which listed in London earlier this year, was also outbid on block OML 24 by the United States-based Pan Ocean Energy. Dangote Group, headed by Africa’s richest man, Alhaji Aliko Dangote, leads one of the few Nigerianonly consortia with the financial firepower for the auction. But another source said he was outbid on OML 18 by a Canadian firm, Mart Resources. A Swiss-based commodities firm, Glencore, expressed initial interest in making a foray into Nigerian oil but dropped out of the race months ago. Shell owns 30 per cent of the blocks, with its Western partners in the SPDC, Total and Eni, holding 10

per cent and five per cent, respectively. The Federal Government owns a majority 55 per cent stake. The sale of the four oilfields is expected to raise at least £2 billion for the SPDC. Another source with knowledge of the bidding process said: ‘They (winning bids) have paid massively over the odds.” Midwestern Oil & Gas Plc/Mart Resources/ Suntrust Oil, under the Erotron Consortium, won the bid for OML 18. OML 29 and the Nembe Creek Trunkline were won by Aiteo/Taleveras in conjunction with four other companies in the consortium, having submitted a $2.5 billion bid for the assets. OML 29 is the most prolific oil lease under the current asset sale. Pan Ocean Oil Corporation Nigeria Limited, operator of the NNPC/Pan Ocean Joint Venture, clinched OML 24 valued at between $500 million and $1 billion, while Lekoil, Crestar, GreenA-

cres/ CCC/Signet Petroleum, NDPR/SAPETRO and Essar submitted bids for OML 25. OML 24 currently delivers 25,000 barrels of oil equivalent per day from three fields and outputs eight million standard cubic feet per day of gas (MMscf/d). The divestment by SPDC is part of the Anglo/ Dutch giant’s plan to dispose of $15 billion of assets globally between 2014 and 2015. Choosing the right buyer, rather than the highest bidder, can be crucial to securing sales, in a country where political influence can decide deals and legal disputes or financial problems can scupper them. “Taleveras is resisting because it wants the block for itself, not in partnership with Seplat,” a source said. Meanwhile, Shell has taken a major step towards announcing the multi-billion pound sale of four onshore oil Shell logo blocks in Nigeria, after wrapping

up key sales and purchase agreements. The company’s subsidiary in Nigeria, SPDC, has signed the sales of two blocks, while the buyers are on the verge of proving that they have the funding, industry sources with knowledge of the deals have said. That leaves government approval as the only hurdle to clear before the SPDC – a partnership between Shell, Total, Eni and the Federal Government – can formally announce the deals. Sales and purchase agreements on two more blocks were “imminent,” said one source, without offering any update on the parallel sale of the Nembe Creek pipeline. The asset disposals set to be worth £2 billion, form part of a planned £9 billion of sales over two years, as new boss, Ben van Beurden, reins in costs and focuses on the best performing projects. While Shell sees its Nigerian offshore devel-

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L-R: Former Abia State Governor, Dr. Orji Uzor Kalu; British High Commissioner to Nigeria, Mr. Andrew Pocock; his wife, Julie and the United States Ambassador to Nigeria, Mr. James Entwistle, during a visit to Kalu in Abuja…at the weekend. PHOTO: TIMOTHY IKUOMENISAN.

Dangote spends N250m daily on diesel at Ogun cement factory 28o C 22oC

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

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versely affected businesses in the country. He spoke on Friday while conducting distributors of the Dangote brand of cement on a facility tour of the Ibeshe plant. The President of Dangote Group of Companies expressed concern over the non-availability of sufficient gas to run the 12 million tonnes capacity cement plant and urged the Federal Government to find a lasting solution to the perennial problem of inadequate power supply. He said: “Our appeal to the Federal Government is to make sure that there is

enough gas so that we can continue to generate our own power. If you look at it in the last six months, we have been using diesel to produce power. “Our generators are made in such a way that if there is no gas, we have to use diesel and between diesel and low fuel oil, we are spending between N230 million and N250 million per day. So, that has really eaten up our own profit when compared to that of last year. “I think by now, we have fully stabilised a bit; we are using coal, but by next year, we will fully be on coal so that we don’t go through this mess any-

more.” Dangote told the distributors, drawn across the country, that the cement plant and other subsidiaries of his company are working towards attaining international standards. He said additional production lines in the Ibeshe plant were meant to expand production capacity and provide employment opportunities for Nigerians. “Since we have doubled our production capacity, this will create a lot of jobs directly and indirectly. It is our desire to employ more, about 60 per cent of the current figure,” he added. Dangote who said his

plants had already made Nigerians self-sufficient in cement production, assured stakeholders that the companies would work harder to meet increasing demands. He also told the distributors that 96 per cent of the raw materials for the cement were sourced from the Ibeshe area while “the only thing we import is gypsum, which is just four per cent.” Dangote explained that the reason for conducting the distributors round the plant was not only to appreciate them but also to demonstrate the extent of work on the company’s expansion.

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

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Peter Obi is an ingrate, says APGA chair, Umeh

lEx-governor justifies resignation as BoT chair Tony Okafor AWKA

he National Chairman of the All Progressives Grand Alliance (APGA), Chief Victor Umeh, yesterday broke his silence over the current travails in his party, accusing the former governor of Anambra State, Mr. Peter Obi, of being an ingrate. While Umeh was abroad, four members of his party in the House of Representatives defected to the Peoples Democratic Party (PDP). They included Uche Ekwunife,Victor Ogene, Hon. Egwuatu and Chris Azubuogu. As if that was not enough blow on APGA, the Chairman of Board of Trustees (BoT) of the party, Obi, last Thursday resigned his position. But Umeh, while addressing journalists at

a function in Aguleri, Anambra East local Government Area accused Obi of instigating the crisis in APGA for what he described as selfish reasons. The APGA boss, who described his former political ally (Obi) as an ingrate who would always want to blow off the bridge after crossing it, said it was unfair for Obi to have treated the party that made him governor for eight years so shabbily. He said all the evil plot against his party would come to nought as, according to him, APGA would continue to soar high, especially in the forthcoming elections in the state which he predicted APGA would sweep. Umeh, however, warned that what the party would not tolerate

is blackmail against its leadership, noting that certain characters had misinformed the Presidency that the government of Willie Obiano and APGA leadership were averse to his reelection. He maintained that he had said it in different fora that APGA would not field a presidential candidate in next year’s general election, noting that with such stand what it meant is that Jonathan is APGA’s adopted candidate in the race. He said besides that, the Obiano government and the APGA leadership had floated a Jonathan support group billed to be launched this week, all to ensure that the incumbent president is reelected. He, however, said that he had made it clear to President Goodluck Jona-

than that APGA’s support for his return next year would not be just for the fun of it but a product of serious contractual alliance. He said it was criminal and wicked for anybody to tell the president that APGA is against his reelection as being bandied by those he called political opportunists and job seekers. He asked APGA members in the state and beyond not to be worried by the recent developments in the party, saying “ we can’t be rattled by such things.” Reacting to Umeh, Obi’s media aide, Mr. Valentine Obienyem, insisted that tha the former governor remained the face of APGA. “If Obi had not stayed in court to regain his mandate, to fight his impeachment, to seek

tenure interpretation, there would have been no APGA today. If he had not supported the present governor under APGA, the party would have ceased to exist. He saw the party to its second tenure in Anambra and in the end handed over to an APGA-elected governor. “During electioneering, Anambra people, including Umeh said APGA won because of Obi’s work in the state. Even when he was asked by presidents of Nigeria to leave the party, he refused; the most recent being losing being appointed a minister because he refused to join another party. “Just in December, Sir Victor Umeh presented the most Consistent and Trustworthy Party

2015: NEF accuses FG of buying Northerners Ibraheem Musa Kaduna

L-R: Former Head of State, Gen. Muhammadu Buhari; Niger State Governor, Dr. Mu’azu Babangida Aliyu and Col. Sani Bello (rtd), during the wedding of the daughter of Emir of Borgu, Hajiya Hadiza Dantoro, in Borgu, Kwara State…at the weekend.

Atiku set to declare for 2015 presidential race Johnchuks Onuanyim Abuja

ormer Vice-President Atiku Abubakar, a chieftain of the All Progressives Congress (APC), is set to declare his presidential ambition ahead of next year’s general election. A source told reporters yesterday in Abuja that Atiku, who had twice made a bid to be president, first in 2007 and in 2011, had embarked on extensive consultations with stakeholders at home and abroad, in preparations

for his declaration which he would do before the party’s presidential primaries slated for November. According to the source, Atiku’s bridge-building outreach has an all-encompassing road map designed to tackle most of the core challenges facing the country, from security to unity, equity and socio-economic development. “The former vice-president, and his newly formed team, shall be interfacing with diverse religious and professional bodies nationally and internationally. His mission would be to

gauge the pulse of the people on the many troubles bedevilling the country with the aim of finding genuine and lasting solutions to them. “Atiku, who is believed to be a strong advocate of interfaith dialogue as a way of lessening tension in the land, may actually begin his campaign by taking messages of peaceful co-existence, true nationalism and an end to religious fanaticism and extremism that breed rebellion and anarchy. “Uppermost on Turaki’s mind, this time around, is

the need to foster a harmonious working relationship between Christians, Muslims and traditional believers – in order to have all hands on deck to rebuild our fatherland, Nigeria,” the source said According to him, the former vice-president was planning what has been tagged “Atiku Peace Tour” that will take his delegation to key places and people nationwide “giving hope to the hopeless masses and rekindling their patriotic zeal, duty to country and responsibility to society.”

Man’s Award to Obi. It is therefore unfortunate for anybody in Nigeria of today to call Obi an ingrate, not to talk of APGA members. Those who are ingrates are those who said he would become the Leader and Chairman of the party’s Board of Trustees, which could have been ratified the next day, but failed to do so for their selfish reasons.” Obi said his resignation as BoT chairman didn’t amount to ingratitude. “Obi remains an APGA member and has only resigned from being the Leader and BOT designate, which was under perpetual process of being formalised. When does an option to reject the bishopric and become an ordinary member a sign of ingratitude?”

he Maitama Sule-led Northern Elders’ Forum (NEF) has accused the Federal Government of buying some unnamed northerners in order to actualise President Goodluck Jonathan’s re-election in 2015. The spokesman of the Forum, Prof. Ango Abdullahi, who made this allegation yesterday, said that the same actors had done that in 2011 which facilitated Jonathan’s election and they are still doing so in the run up to 2015 elections. Abdullahi, who reiterated that there was a gentleman’s agreement for power to shift to the south after President Umaru Yar’Adua had completed two terms of eight years, noted that the agreement was breached following Yar’Adua’s death. According to the NEF spokesman, some elements in the south started buying northerners after Yar’Adua’s death in order to ensure power shift to the region, saying the same people are at it again. He noted that “the major problem is from the North; this we know but we will not give up.” “Those who were privy to the whole matter are silent and just pretending as if there is

nothing. So, we will continue to press for justice and fairness because that is the hallmark of democracy which we practice,” he noted. The forum also reiterated that it will mobilise Nigerians to vote out President Jonathan in the coming election because “he had betrayed the north and lacks the capacity to lead the country in view of current national challenges.” Abdullahi, who is a former Vice Chancellor of Ahmadu Bello University Zaria, also advocated that holding all elections on the same day in 2015 will ensure a free and fair process. “Let all the elections in 2015 hold in one day, that is the best thing and what is obtainable in countries practicing genuine democracy. Why will you say today we will hold presidential election, the other week governorship and subsequent weeks other elections?” the Forum queried. Abdullahi suggested that different colours should be used for the different stands of elections. “There is nothing difficult in it. Others are doing it, and it is not beyond our capacity. Why we think they are against it is because of the rigging they did in the past and they want to continue with it,’’ he added.

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2015: Kwankwaso cautions security agencies Chukwu David Abuja

head of 2015 general election, the Kano State Governor, Musa Rabiu Kwankwaso, at the weekend in Abuja, cautioned security agencies, traditional rulers and religious leaders not to be partisan in order not to further endanger the democracy. He also affirmed that there was nothing wrong with the 1999 Constitution, which many people had been condemning and asking for its holistic amendment, saying that it was the operators of the document that had problem and created the confusion affecting the entire system. Kwankwaso made these statements when the Kwakwasiyya Ambassadors of Nigeria, a non-governmental organisation, claiming to be fighting for the emancipation of Nigeria paid him a courtesy visit at the Kano State Governor’s Lodge, Asokoro, Abuja, to persuade him to contest in the 2015 presidential polls. The group, which was drawn from the six geo-political zones of the country, while impressing on the governor to make himself available for the plump job, also decried the security situation in the country, stressing that Nigeria needed a decisive, committed and non-relenting leader, who could courageously fight the security menace and protect the country’s integrity in the comity of nations. Kwankwaso, however, tactically failed to clarify whether or not he had accepted to run for the office

of the President of the Federal Republic of Nigeria in the forthcoming 2015 general election. While responding to the various issues raised by the NGO, the Kano State helmsman said: “Any country with a weak military cannot stand firm in the face of daunting challenges. I advise that military should stay away from politics. They should stay where they are. Traditional rulers, pastors and businessmen should stay clear of politics; that is the only way we can have peace in this country. “When they come into politics, others will go against them. My appeal to them is that they must not give impression that they are a political wing of a government or a political party that intends to assume government in the country.” Kwankwaso further alleged that many Nigerians, who were displaced from their natural habitations were compelled to live as refugees in the neighbouring countries, lamenting that if nothing was done urgently to tackle the security challenges in the country, the situation might be worse. “I feel extremely angry when I look around and I remember that we have thousands of Nigerians as refugees in Cameroun, Chad, Niger and other countries as internally displaced persons. So many are also in the forests and roads hiding. So many are being killed,” he lamented. Describing the visit of the group as a pleasant surprise, the All Progressives Congress (APC) chieftain commended them for re-

EFCC, DSS conclude probe of sale CONTINUED FROM PAGE 4

opment as a prized asset, onshore operations have been hampered by spills, hurting both the company’s finances and its reputation. The spills are mostly caused by thieves tapping into pipelines – known as bunkering – but Shell has struggled to convince critics that it is solving the problem or cleaning up spills fast enough. Its difficulties have encouraged the company to divest some of its oil blocks in the country. “We have signed sales and purchase agreements for some of the oil mining leases but not all that we are seeking to divest,” said an SPDC spokesman. “In the event of a suc-

cessful completion of the sales process, we shall make a market announcement,” he added. The company has begun consulting its workers that would be affected by the sales, but stressed that it would “continue to have a significant onshore presence in oil and gas.” The Federal Government has encouraged greater ownership by indigenous firms, who analysts said could suffer less from bunkering due to their smaller scale and local connections. This has encouraged a flood of bids from small explorers, with Shell Finance Chief, Simon Henry, saying earlier this year that the firm had received more than 100 early-stage offers.

posing their confidence in him as one who has the potential to take the country out of her present multifarious problems. He encouraged Nigerians from diverse background to unite as one indivisible entity and fight the current divisive

threats confronting the nation, saying that “it is weak leaders who talk about division amongst the various ethnic and religious groups in Nigeria.” “In a democracy, various divides should unite. None of us here can stand and abuse a Christian or

Muslim, Hausa, Itsekeiri or Igbo because they are all here now. Weak leaders abuse other tribes,” he stated. Speaking earlier, the National Coordinator of the campaign group, Mr. Victor Okamgbe, said that the governor had always

been on the side of the people even when the situation was inimical to his political ambition. He pointed out that the defection of Kwankwaso from the ruling Peoples Democratic Party (PDP) to APC was a progressive decision.

L-R: National Chairman, All Progressives Grand Alliance (APGA), Chief Victor Umeh; Anambra State Governor, Mr. Willie Obiano; Catholic Archbishop of Abuja Diocese, John Cardinal Onaiyekan and Anambra State Deputy Governor, Dr. Nkem Okeke, at a thanksgiving Mass, at the St Joseph’s Catholic Church, Aguleri, Anambra State…yesterday

Ebola: Doctors’ sack won’t affect emergency response, says minister lFashola urges victims’ relatives to appreciate specialists Appolonia Adeyemi and Muritala Ayinla

gainst the background of the row and protest generated by the suspension of doctors’ residency training in all federal hospitals and their subsequent sack, the Minister of Health, Prof. Onyebuchi Chukwu said their sack will not impact on the Ebola health emergency currently plaguing the country. Also, Lagos State Governor, Babatunde Fashola, has warned Nigerians to desist from spreading rumour to the effect that Ebola Virus Disease (EVD) patients had been neglected, saying it could discourage the few health workers who rose to the health emergency. Chukwu at a news conference in Lagos at the weekend claimed that doctors had not been involved in treatment and management of EVD cases. “As a group, they have not been participating in Ebola disease cases,” he said and added: “It is not as if we are missing anything yet.” He was responding to questions on why the Federal Government chose to suspend the training programme given the Ebola health emergency instead

of negotiating with the doctors so as to meet their demands. However, the minister explained that the suspension affected those undergoing their training in federal hospitals alone. “We do not have power to suspend the training in Lagos State hospitals and tertiary hospitals in other states. It affects only Federal Government hospitals. “Residency training in all private hospitals is still ongoing and all the institutions that regulate and accredit institutions are there. We did not close them. We want their programmes to be there. So, the West African Post Graduate Medical College will continue to do their work.” According to him, the government decided to suspend residency training in hospitals belonging to the Federal Government, adding that “we just feel that we needed the space to make it better so that we can get the best from the programme.” He stated that if a programme is suspended, “we cannot keep the students.” The minister said since the structure of residency training is one of the demands of doctors, the suspension would pro-

vide the government the opportunity to review the programme with a view to ensure a better outcome for it. On the rumour making rounds to the effect that Ebola patients were neglected, Fashola in a special broadcast on Ebola virus management yesterday saluted the courage, professionalism, patriotism and humanitarian disposition of the first set of workers that responded to the emergency and the leadership of the state and federal Ministries of Health with the support of international partners. He said: “While we are doing everything to assure their safety and to give them confidence to proceed, I want to passionately appeal that we must not do anything to distract them or demotivate them. What they need now is our encouragement and support to gain even stronger control of the situation.” On those who are seeking to do brisk business from this situation, Fashola said: “I offer a word of caution and re-assessment. This is not our way. I must also say to those who are seeking to raise funds that we appreciate your concerns but we are not yet at a fund raising stage and I

cannot foresee that eventuality.” According to Fashola, for now, Lagos State has enough resources to fund everything that is needed. “This is what your taxes can do in emergencies. Our House of Assembly has thankfully approved a request for any needed expenditure,” he said. In a related development, the Ogun State Government has procured a variety of emergency supplies, including specialised Personal Protective Equipment (PPE) to strengthen its preparedness at curtailing the EVD. Receiving the PPE, Permanent Secretary, Ministry of Health, Dr. Daisi Odeniyi said that other efforts of the state towards curtailing the disease included visitation by the State Steering Committee to the isolation centres being prepared by the state to further step up the capacity to combat any outbreak of the disease. The permanent secretary further said that the regular meeting of the Emergency Operation Committee and the Sub-Committees on Ebola would take place as the state continues to implement its emergency response plan.

Sanctity of Truth

Monday, August 18, 2014

Lawyer sues INEC over UPN, SDP Tunde Oyesina

ABUJA

he Independent National Electoral Commission (INEC) has been dragged before the Federal High Court sitting in Abuja over an alleged unlawful registration of two prohibited political parties-Unity Party of Nigeria (UPN) and Social Democratic Party (SDP) to participate in the 2015 general elections. The plaintiff, a pro-democracy activist, Richard Akinnola, who filed the suit at the registry of the court, is asking the court to nullify the purported registration granted the two parties on account of having been proscribed

and dissolved by existing laws. In the originating summons, filed by his counsel, James Ode Abah of Bamidele Aturu chambers, the plaintiff claimed that UPN and SDP were outlawed out of existence by the Political Parties Dissolution Decrees of 1984 and 1993 respectively. The plaintiff among others is also asking the court to determine whether INEC has powers to resuscitate prohibited and dissolved parties without first repealing the laws that proscribed them. He also wants the court to determine whether political parties dissolved or prohibited by an existing law from acting as politi-

cal parties can function or act as parties without the repeal of the law that proscribed them. The plaintiff, who joined UPN and SDP as co-defendants in the suit, is claiming against them declarations that having been duly dissolved by virtue of existing laws of 1984 and 1993, they are no longer political parties in the country and cannot function as such. He also applied for court declaration that INEC as the first defendant in his legal action cannot validly or lawfully register the two parties in the face of the existing laws that legally dissolved them. The plaintiff, however, sought for the court’s or-

der compelling INEC to de-register the two parties and its agents, officers, servants and privies by whomsoever from recognizing or treating UPN and SDP as political parties in the country. He also prayed for an order of perpetual injunction to stop the two parties, their agents, officers, servants and privies from acting, functioning or parading themselves as political parties. In a 10-point affidavit in support of the suit, the plaintiff averred that he read in The Punch newspaper of April 26, 2014 news that INEC had on April 25, 2014 registered UPN as a political party to canvass for votes.

BPE to Shippers' Council: Uphold best practices Abdulwahab Isa

Abuja

o succeed as a repuTmaritime table regulator in the sector, Director

General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki, has tasked the Nigerian Shippers Council (NSC) to uphold international best practices. A statement by Bureau of Public Enterprises (BPE) quoted Dikki as saying that, as the economic regulator, the Council has been mandated to urgently provide economic regulation for the ports to ensure customers were fairly treated. According to him, there is great room to improve efficiency, eliminate corruption and unnecessary bureaucracy which delay cargo clearance. Dikki, who was represented by Mallam Uba Audu Mohammed, the Deputy Director in charge of Marine Transport, canvassed the positions in a presentation at the retreat on the Draft Regulation for Implementation by the Nigerian Shippers Council as Economic Regulator organized in collaboration with the Federal Minis-

try of Justice, in Kaduna which held between August 13 and 15, 2014. The BPE chief executive enjoined the Council to ensure a highly professionalized and motivated staff, whose core values would be due process, transparency and accountability with credibility. He added that a “regulator’s credibility depends on professional neutrality and transparency.” He, however, noted that “economic regulation requires much more than just competent economic and financial analysis, but must also have the ability to manage complex interaction with regulated firms, consumers, politicians, court officials, the media and a range of other interests.” Dikki also tasked the Council to, as a matter of principle; ensure that its' regulations sustained private investment in infrastructure development, which is one of the rationale for the concessioning of the ports. He contended that regulations should focus on market rules that encourage free entry and exit with entry rules, the right tariffs, quality of service, ensure access for the players, incentive regulations and conducive environment.

SURE-P pumps N10bn into Abuja light rail ...Upbeat on 2015 completion date Yekeen Nurudeen

Abuja Chief of Army Staff, Lt.-General Kenneth Minimah (left), presenting a plaque to Edo State Governor, Adams Oshiomhole, after the inauguration of the remodeled Officers' Mess of the Nigerian Army School of Supply and Transport, Benin City…at the weekend

NIPOST seeks government support INEC extends PVCs Nigerian Postal SerTonhevice (NIPOST) has called the Federal Government

to provide adequate infrastructure for the service to enhance its productivity. According to the News Agency of Nigeria (NAN),the Deputy Postmaster-General, Counter Operation, Mr Emem Samuel, said on Sunday that some capital projects were being done by the service alone. “NIPOST is a government-owned institution responsible for providing postal services in Nigeria; so, the capital intensive infrastructure should not be left for it to manage. “We need capital investments from the Federal Government to upgrade NIPOST as this will attract investors “Britain drove the Royal Mail to its present enviable position and the British government is still investing in it because of the importance of postal service as employer of labour. “It is important for our

government to do the same as the job is labour intensive and investing in the service will reduce unemployment,’’ he said. He further appealed to the Federal Government not to neglect NIPOST in funding some of its basic needs. Nonetheless, Mr Irmiya Kulawe, the General Manager, Research and Quality Assurance, Counters Division, in a separate interview, said the service had mapped out strategies that could generate more revenue. According to him, one of such strategies is to implement more of the aspects of the Stamp Duties Act, which empowers the service to generate revenue. He said NIPOST would organise a summit to educate the public on Stamp Duties Actanditsprovisionsbetween Aug. 19 and Aug. 20 in Abuja. Kulawe said the summit would sustain advocacy on the enforcement of the provisions of the Act as applicable to NIPOST.

distribution in Abuja

Onyekachi Eze

ABUJA

he Independent National T(INEC) Electoral Commission has extended the

second phase of distribution of Permanent Voter Cards (PVCs) exercise by two days in the Federal Capital Territory (FCT). New Telegraph had reported that the exercise was marred by heavy downpour and logistically problems on Friday last week, which was the first day of the exercise. Mr. Oluwole Osaze-Uzzi, INEC Director for Voter Education and Public Enlightenment in a telephone interview yesterday said the exercise will now end on Tuesday in Abuja. He said that the extension became necessary following heavy downpour in the Federal Capital Territory (FCT) on Friday, the first day of the exercise. "Many people could

not come out on the first day and the Youth Corps members could also not do much because of the rain. So, it has been extended by two days and will now end on Tuesday in FCT", Osazeuzzi disclosed in a telephone interview. It would be recalled that INEC has announced that the distribution of PVCs will commence on Friday, August 15, and end on Sunday, 17th August in eleven states and the FCT. The states are: Yobe and Bauchi, (North East); Jigawa and Sokoto (North West); FCT and Kwara (North Central); Anambra and Ebonyi (South East); Ondo and Oyo (South West); and Delta and Cross River (South South). The commission also said the Continuous Voter Registration CVR, exercise will follow immediately in the eleven states, next week, from 20th to 25th August.

Chairman of the Tonhe Presidential Committee Subsidy Re-investment

Project (SURE-P) General (Rtd) Martin Luther Agwai, has given assurance that the December 2015 completion date of Abuja light rail project remains sacrosanct as the Federal Government through SURE-P would make funds available to its completion. According to him, the Federal Government has earmarked N10billion for the project out of the N268.37billon 2014 SUREP budget which will be released to the contractor handling it, China Civil Engineering Construction Corporation (CCECC). Agwai stated this at the weekend while speaking to journalists after a tour of the project with members of the committee. "I believe that seeing the commitment from the PIU and knowing the commitment of the FCT Minister because we have met severally on this and his desires to see it done as well as the willingness of our committee to make sure that funds that are meant for projects are delivered quickly and with integrity. I'm assuring

you that it will be done," he said. The SURE-P Committee Chairman remarked that the project when completed, would take a lot of people by surprise, adding that its completion would make mass transit system in Abuja a success. His words: " This project will take a lot of people by surprise when it is completed. It is a worthwhile exercise. In the long run, the mass transit system in Abuja will be a success and I'm happy you are also including bicycle lane which has now become a good source of transportation in most cities. Of course, it takes you quicker than walking and also it helps you to exercise yourself. I'm looking forward, including people in the committee and Abuja to the completion of this project. “This is one of the projects that will provide a mass transit for people working in and around the central area and other satellite towns of Abuja. “It is very clear that a lot of work has gone down here with many of us not knowing that there is such a development in the Federal Capital Territory. I'm impressed and I enjoyed the coach ride," Agwai added.

NEWS

Sanctity of Truth

Monday, August 18, 2014

Gwoza: Military moves to court-martial over 100 soldiers Emmanuel Onani

L-R: General Secretary, Motailatu Church Cherubim and Seraphim Worldwide, Dr. Israel Akinadewo; Secretary General, Christian Association of Nigeria (CAN), Lagos chapter, Revd. George Amu; General Evangelist, Motailatu Church Cherubim and Seraphim Worldwide, Prof. Joseph Otubu and Special Adviser on Religious Affairs, Lagos State, Dr. Sam Tokede, during the 50th Golden Jubilee Anniversary Thanksgiving Service of the Church in Lagos…yesterday. PHOTO: SULEIMAN HUSAINI

Imo Elders express worries over Ilomuanya's refusal to vacate seat Amadi Nnamdi ABUJA.

embers of the Imo State Council of Elders (IMSCE) have expressed worries over the continued stay in office by the deposed monarch and former Chairman, Imo State Council of Traditional Rulers, Eze Cletus Ilomuanya. At a press conference in Abuja to examine the state of Imo, the elders led by Prince Okey Israel Njemanze observed that Ilomuanya, against the orders of the state government, had continued to sit tight on the stool of Obinugwu and that of the office of Imo Traditional Rulers Council after his removal.

The exasperated council of elders wondered whether the deposed monarch was above constituted authority as he has boasted that a team of policemen surrounded him to ensure that he illegally retained his position. The group stated: “Despite the dethronement by the state government of the said Ilomuanya, who was appointed on the platform of traditional rulers, he still sat at the national conference” The council also decried the incessant security breaches and abuse of siren by some federal lawmakers from the state as well as frequent assault on Governor Rochas Okorocha by opposition politicians.

2015: Don't be partisan, Aliyu tells monarchs Dan Atori MINNA

state governor Dr. Nhasiger Muazu Babangida Aliyu advised the traditional

leaders in the State not to be involved in partisan politics rather they should maintain their neutrality and fatherly role to all their subjects irrespective of political affiliation. Governor Aliyu gave the advise at New-Bussa in Borgu local government of the state after the commissioning of a palace built for the district head of Babanna and turbarning of the Deputy Speaker of Niger state House of Assembly Hon. Gambo Bello as Dan Darman of Borgu. He said traditional institutions are the custodian of the people who deserved to be respected because the masses have more confidence in them

than the politicians who were public office holders. Aliyu warned that Nigerians should imbibe the spirit of honesty, truthfulness and uprightness in their conducts, saying "all kinds of things have been said and plotted about Major Al-Mustapha but God has done His will and he is here, therefore we should be honest, truthful in the discharge of our activities". He assured the people to do all that is possible to ensure a peaceful election come 2015 adding that the wrath of the law would catch up with anyone causing mayhem especially with the activities of insurgency in the country, adding that people hide under religion to do harm to others or cause political destructions, advising that they should desist from such unwarranted attitudes.

Njemanze, who was a former Deputy Director General, State Security Service (SSS) scored the security agencies in the state high on the discharge of their duties, adding however that danger loomed if the security breaches were not put under check. Njemanze also wondered why INEC has refused to declare the inconclusive Oguta election results which he

said remained only five out of 198 wards, noting that the All Progressive Grand Alliance (APGA) had won the declared results with 2011 votes. The elders expressed fears of a possible bloodbath among politicians in the state as electioneering draws nearer if the lawlessness of the actors were not curbed, calling on President Goodluck Jonathan to wade into the matter.

Women group endorses Jonathan for 2015 Wale Elegbede igerian women, on the platform of Transformation Ambassadors of Nigeria (TAN), have handed an ultimatum to President Goodluck Jonathan to run in the 2015 presidential race. Former Minister of Women Affairs and member of the Board of Trustees of the Peoples Democratic Party (PDP), Iyom Josephine Anenih,

announced the ultimatum at the weekend in Awka during a rally by TAN in the Southeast zone. She noted that the women would not want the PDP to play with Jonathan’s right to an automatic ticket as a sitting President, as is done in every civilized democratic nation in the world, insisting that the Party must give him the ticket to run.

Wada’s aide applauds environment ministry on ecology Muhammad Bashir LOKOJA

Special Adviser to Tonhe Kogi State Governor environment and

physical development, Barrister Ladi Ahmed Jatto, has commended the Federal Ministry of Environment for hosting the Northern Stakeholders Forum and Zonal Barrister Jatto who gave the over view of the two days programme with the theme: “Effective Partnership towards Sustainable Management of Ecological Projects”, held in Lokoja, Kogi state explained the

timeliness of the programme especially as some vital part of the country is still grappling to survive ecological problem. "Environmental problems in the northern part of the country have exposed our communities to all sorts of land degradation and chemical poisoning, leading to loss of lives. Some of the health environmental challenges which readily come to mind are the lead poisoning in Zamfara which killed so many children caused by unregulated mining activities.

he military high command has concluded plans to court martial over 100 soldiers for offences relating to cowardice. New Telegraph gathered from a highly-placed military source in Abuja yesterday, that the soldiers will be put on trial for attempting to frustrate planned military operations, to reclaim Gwoza from suspected Boko Haram fighters, who overran the town over a week ago. The impeccable source, who craved anonymity due to the sensitive nature of the issue, said: “Very soon, they (soldiers) will face a properly-constituted court- martial, to defend themselves against charges of cowardice and attempting to undermine military operations planned for Gwoza.” Efforts to get the Director of Defence Information (DDI), Maj. Gen Chris Olukolade, to corroborate the move, did not yield result, as he said he had “no comment” on the issue. The DDI, however, stated that every soldier knows how seriously the military view offences of cowardice, mutiny and desertion, and would, therefore, act in accordance with laid down rules and operational procedures. While underscoring the seriousness the military attaches to discipline, and the consequence of a breach, Olukolade said: “Court Martials are normal features of the disciplinary and judicial sys-

tem of the military. “The procedure is ever at work to handle any conduct that falls short of expectation, whether an operation is ongoing or not. “Those arraigned are only pronounced guilty after due process. Acts that qualify as cowardice, mutiny or desertion are grievous offences and all serious military personnel know the consequence and will do everything to avoid committing them.” An online medium, Premium Times, had also reported that over 100 soldiers from the 7 Division of the Nigerian Army in Maiduguri, the Borno State capital, will soon be court-martialled The online medium had said: “The Nigerian military is in the process of constituting a trial panel to try over 100 soldiers said to have exhibited “acts of cowardice” and “disobeyed deployment directives” in Maiduguri on Saturday...” It explained that: “The soldiers were among several hundred troops being deployed from the army’s 7 Division in Maiduguri to locations in Damboa and Gwoza for major operations planned to significantly rout the extremist Boko Haram sect from the areas.” It will be recalled that the Military had recently warned wives of officers and soldiers, to desist from protesting deployments of their husbands to Gwoza, to retake the town from suspected insurgents.

8th media nite out award holds August 31 Wale Abiodun reparations are in top Pedition gear towards the 2014 of Nigeria Me-

dia Nite Out Award to be held on August 31 in Lagos. This year award is the eighth edition in the series. Theme of this year’s award is “The role of journalism in the promotion of Democracy, Individual Rights and Civil liberty in Nigeria. In a statement made available to our correspondent by the organisers of the events, Solkem Entertainment and signed by its spokesperson, Shola Olugbenro, it is a platform to reward excellence by acknowl-

edging the efforts of performing media personalities, corporate bodies and supporting individuals. Among the top journalists to receive Hall of Fame award is the Managing Director/ Editor-inChief of New Telegraph Newspapers, Mr. Gabriel Akinadewo. Special Guest of Honours are Governor of Delta State, Dr. Emmanuel Uduaghan; Edo State Governor, Comrade Adams Oshiomhole; Ogun State Governor Senator Ibikunle Amosun; Lagos State Governor Mr. Babatunde Raji Fashola and Honourable Minister of Information, Mr. Labaran Maku”, the statement reads.

Licence more private varsities, expert urges NUC Yekeen Nurudeen ABUJA

he Chief Executive TAbuja Officer of Bratim, an based career de-

velopment organisation, Tijani Ibrahim has urged the management of National Universities Com-

mission to licence more private universities in the country. This, according to him would stop the mass exodus of Nigerian students to private universities in countries like Ghana, Benin Republic and England.

NEW TELEGRAPH

www.newtelegraphonline.com/metro

ABIODUN BELLO FEATURES Editor

John Edu, Jeremiah Madaki, Ayorinde Durojaiye, Sinmiloluwa Sokunbi and Shadrack Yusuf

ince the death of four victims of Ebola Virus Disease (EVD), the fear of contracting the deadly virus is spreading across the country like a wild fire. Many residents of Lagos, who spoke with NT Metro, expressed divergent views on the cause, spread and preventive measures. Mr Joseph Nwanchukwu, who resides in Ogba area of the metropolis, said the awareness level about Ebola was now high among the people. He said: “I went to a bank this morning the bank provided a bowl of water and soap for customers to wash their hands to avoid being infected with the deadly Ebola disease. Kudos to the bank for taking steps to preserve the lives of its customers.” A pharmacist, Mrs Grace Nelson, said that personal hygiene was the best way to avoid the disease. She said: “To me, personal hygiene keeps you healthy and people have been coming here to buy sanitizer and antiseptics, in order to protect themselves against the disease.” A trader at Avis bus stop in Ogba, who gave her name as Iya Esther, said one needed to be very careful. She said: “One must wash his or her hands and body with antiseptics and do not relate with anybody.” But a bookshop owner at Ogba, Innocent Odima, said he was just hearing of the disease for the first time. He said: “It is a viral disease and dangerous, based on what medical experts said, we just have to be careful and maintain personal hygiene. We also have to be careful the way we shake hands with people and also reduce body contacts.” A business centre owner, Gabriel Wabara, said he did not know much about Ebola. “All I know is to avoid careless contacts with people, blood, semen and other things,” he said. A pharmacist, John Oluseyi, said Ebola virus had been in Africa for a long time. According to him, the only way to curtail it is to ensure proper use of chlorine or bleach by diluting it with water before using it to wash hands. He said: “Since the disease is not contagious at its early stage which is between three to 21 days of infection, people should ensure that any suspected sign of whatever kind of fever is reported to the right quarters before it gets to the stage of high fever where it becomes contagious. Mrs. Florence Emmanuel, urged Nigerians to turn to God as the ultimate healer. She said: “We should just keep on praying for the country because God is our definite healer; He can heal us of Ebola.” A nurse, Miss Rachael Adesina, expressed the belief that Nigeria would soon overcome the Ebola scourge. She said: “Ebola will die down very soon, because I have heard of bird fluid, lasser fever and many other diseases and now they are no more in town. Ebola is just the work of the devil, nothing more. “As a nurse I am very careful of the patient I treat, and before I render any service I put on hand gloves and after I am done with the treatment I wash and sanitize my hands. At times I take my bath before I attend to my kids and husband. The government can’t really do much; all we need is prayer for the nation.” Mrs Rifkatu Hassan, a petty trader, said cases of victims of Ebola Virus had been reported in the country. She said: “Distance is no barrier to this virus in

MONday, AUGUST 18, 2014

abiodun. bello@newtelegraphonline.com; otuntise@yahoo.co.uk

0802 393 8212

Ebola: Awareness level high among Lagosians

Ogbu

Hassan

Adedeji

Kohen

Mamman

Okunade

as much as people move from one place to another. Such movements can transport an infected person to another state with no reported case of Ebola. “There is no inter-state border check in Nigeria and an infected person can hop in on a bus, either to visit a friend or a relative, and bring it to another state.” Patrick Ogbu said it was not just avoiding Ebola prone countries but also to avoid eating any meat one did not know its source. “Among other preventive measures is what Adamawa and Kaduna states have already started; checking passengers entering their states to ensure that no Ebola case is reported in any hospital in their state. “Handshake doesn’t get one infected unless the person has Ebola, but it is advised that people should take precaution when shaking someone they do not know.” On his part, Hamza Mamman said Nigerians should be mindful and careful with the kind of people they mingle with. He said: “We should be careful with its signs and consult physicians when we notice any sign of Ebola. Government should provide our healthcare providers with the necessary apparatus against the deadly Ebola virus.” Kelvin Kohen, who works with Skyway Aviation Handling Company Limited (SAHCOL), advised that people should completely avoid handshakes

and unnecessary talks in the public. According to him, people who work at airports, hospitals, transportation companies and eateries need to be very sensitive because those are areas where the deadly virus is mostly contacted. He said: “If the Catholics would change their way of taking Holy Communion because of Ebola, we also need to take preventive measures.” Adesina Adedeji, an engineer, said he knew what Ebola was all about. He said: “In fact, we know that the LiberianAmerican, Patrick Sawyer, brought the disease to the country and we are sad about it”. Mr Bolanle Okunade, a banker, warned against the use of salt and water, which has claimed more than four lives in parts of the country. He said: “I can only vouch for the ZMAPP serum, let not pay attention to rumours about the use of salt water to cure the disease.” Okunade, who urged Nigerians to queue behind the medical experts, acknowledged the efforts of the Federal Government to check the disease. “I appreciate the efforts of Federal Government trying to contain the situation. Recently, I learnt that the Bayelsa State Governor, Seriake Dickson, set up 103 surveillance centres to check Ebola in the state. “Also, President Goodluck Jonathan approved N1.9 billion to implement a Special Intervention Plan aimed at curtailing further spread of EVD.”

10 METRO

Monday, August 18, 2014

Police killed three of our members, motorcyclists allege Bola Kareem

ommercial motorcyclists, otherwise known as Okada riders, at the Iyana School bus stop, on LASU-Iba Road, Lagos State, have accused some policemen of shooting at them, killing three of their members and also pouring acid on them. The motorcyclists, who staged a protest at the weekend, were armed with placards, decrying police actions against them. They claimed that on Friday when the police swooped on them, three of their members were killed, 12 injured while acid was poured on about seven persons. Investigation shows that the riders were under the impression that the law barring commercial motorcyclists from plying certain routes in Iyano-Iba had been reviewed by the Lagos State Government. According to the riders, policemen from Isashi Police Station attacked them on Friday, while trying to seize their motorcycles because they were plying some certain routes in the axis. The motorcyclists resisted the seizure and the policemen started shooting sporadically into the air. Unfortunately, the bullets got three among the riders. “We want government’s intervention. Policemen from Isashi division are always troubling us. On Friday, they gunned down three of our members,” one of the motorcyclists said. “They were just shooting anyhow. There was confusion and we all scampered to different directions for safety. They shot

Okada riders protesting alleged killing by police

Laide who died instantly. “The policemen took his motorcycle to their station without even waiting to check if he was dead or not. Rather than check on Laide, they continued to shoot, leading to the shooting of two other people. The victims died,” another rider added. The policemen were alleged to have further spray acid on the riders. One Mr Giwa Gafaru and six others were affected. “The policemen came to our park on that Friday about 9am to arrest us, but we all disagreed because the state governor said we shouldn’t allow any police to harass us on this road again; that we are now free to work. In fact, he gave us helmets,” a rider, who gave his name as Jamiu

Giwa, said. The fuming motorcyclists said they were tired of the pressure from policemen. “The policemen are from Area K, Morogbo Command, but we are under Area E, Festac Command,” they said. One of the policemen identified as Mr. Leke reportedly said: “We came here today to kill, not to seize any motorcycle.” He then allegedly pointed his gun at a motorcyclist named Mr Taiye, but ended up shooting Laide to death. Leke allegedly killed three of the motorcyclists - Laide, Seventy, and Osha. Our correspondent located one of the wounded motorcyclists, Mr Sunday Okoro, in a

Ajimobi offers Aleshinloye fire victims assistance

Okoro

hospital. Okoro said they were having an association meeting, when the chairman received a call. He said: “The caller said that police had gunned down three motorcyclists at Iyana School. We rushed to the place. When we got there, I saw Mr Leke shoot sporadically into the air with his counterpart Mr. Kehinde. “I went to park my motorcycle by the end of the road. I was still trying to adjust it, when I felt something hit my ankle like a sharp stone. As I wanted to run then, I fell. It was then I realised I had been shot.” One of the riders two months ago allegedly committed suicide after Leke repeatedly seized up to six motorcycles from him. “He had six kids. He said he couldn’t pay their school fees anymore, take care of them, his wife or parent. He just went home and hanged himself,” Tunji, another motorcyclist, said. But the Deputy Police Public Relations Officer, Lelma Kolle, denied the allegations. He said that the police did not kill any motorcyclist at the park. Kolle, however, said that police shot two on the legs to stop them from setting Isashi Police Station ablaze, after they had poured acid on a senior officer of the station, who, according to him, is presently in hospital,

battling to stay alive. He explained that trouble started on that fateful day, after police attempted to carry out raid on a black spot at Iyano School, where many citizens had been dispossessed of their valuables. He said: “The DPO sent policemen to the black spot. When they reach there, they saw policemen, who thought they came to arrest them. Suddenly, they attacked them with broken bottles. Some of them poured acid on the station officer (SO), who is now in the hospital.” Kolle added that because of the tensed situation, the policemen went back to the station. The motorcyclists how regrouped, had a meeting and decided to attack the station and set it on fire. But some of the members disagreed, throwing them into two groups. “A fight broke out between the two groups - one of them used iron to hit another, leading to his death. They now came to the station, armed with broken bottles and jerry cans filled with fuel. They were too many. Police fired warning shots, but they kept advancing. The police were forced to shoot two on the leg. They are now in the hospital. They now claimed that their member, who they killed, was killed by the police. The police did not kill anybody.”

One dies as boat explodes in Lagos Muritala Ayinla Ajimobi (left) inspecting the burnt Aleshinloye Market.

Sola Adeyemo IBADAN

raders of the Alesinloye Market, Ibadan, whose goods worth about N1 billion were destroyed by fire on Friday night will soon have a reprieve as the Governor Abiola Ajimobi of Oyo State yesterday pledged government’s assistance within a week. The governor, who visited the place twice within 24 hours, made the pledge while inspecting the level of damage at the market and expressed sympathy with the traders.

The Special Adviser to the governor on Media, Dr Festus Adedayo, said in a statement that Ajimobi had first visited the burnt market at 2am on Saturday before visiting the place again later in the afternoon to identify with the affected traders. The governor described the fire incident, which destroyed over 500 shops as unfortunate, pledging that necessary machinery would be set in motion to provide succour for the victims to cushion the effect of the inferno. Ajimobi recalled his expe-

rience when his Lagos private residence was gutted by fire in 1993, praying that God, who assisted him to overcome the incident, would also compensate the traders. He directed the victims to form a committee to meet with government representatives for the provision of necessary assistance. The governor urged the leadership of the market to ensure the equitable distribution of whatever assistance offered by the government, stressing that it should not be politicised.

t least one person died while Aa passenger many others were injured as boat belonging to Aquitien Oil and Gas exploded while trying to refill gasoline at Capital Oil Jetty. It was gathered that the tragedy, which occurred on Friday on Victoria Island, left many passengers with various degrees of injury, while the lone casualty, Emmanuel Omu, was initially missing before his body was later found yesterday. It was also learnt that while other passengers who were immediately rescued were taken to different hospitals on Lagos Island, relatives of Omu could not find their son in any of the hospitals where the injured

were taken to. According to a relative of the deceased, Sunday Ezugha, the relatives were left to look for their son, even after they could not find him among the injured passengers in the hospitals. Hence, he reported to the National Emergency Management Agency (NEMA) to intervene. NEMA’s South-West spokesperson, Ibrahim Farinloye, confirmed the incident. He said: “The boat which was said to belong to Aquitien Oil and Gas, took off from VCraft Jetty, Lekki Phase One, and while trying to refill gasoline at Capital Oil Jetty on Victoria Island, the engine exploded.”

MEtro

Sanctity of Truth

Monday, August 18, 2014

Two feared dead as NURTW factions clash Juliana Francis

t least, two persons reportedly lost their lives when members of the National Union of Road Transport Workers (NURTW) clashed at the Isolo area of Lagos State. Witnesses said the fight started at the weekend between two factions of the union at the installation ceremony of two chiefs at the Metropolitan College, in Ireakari area of Isolo. “The installation of the two chiefs, Muyideen Aboy as Akile of Isolo land and Awolese as Shodoro of Isolo land, was in commemoration of the 10th anniversary of the Oba of Isolo, Oba Kabiru Alansi Agbabiaka. “The ceremony started very well, but suddenly everything went wild. We heard gunshots. We started running. We later heard that the shots were from a loyalist of one of the faction leaders around Cele/ Ejigbo area,” one of the witnesses said. While some people

claimed that two persons were killed, others said that the two persons were only wounded. Another witness explained that two Fuji musicians - Abass Akande, otherwise known as Obesere and Sefiu Alao - invited by the celebrants were entertaining the guests, when NURTW’s National Treasurer, Musiliu Oluomo, came to the party and started ‘spraying’ money on the two chiefs. “When Oluomo got to the stage, Obesere was playing for Muyideen Aboy. Oluomo walked to where the other celebrant, Awolese, was and saw one of his members ‘spraying’ the musician who was playing for the celebrant. Immediately the musician saw Oluomo, he started singing his praises. At that point, a member of the rival faction, cautioned the musician to stop. Before we knew what was happening, one Olowu, a member of the rival faction, brought out a pistol to shoot Oluomo,” a witness, who gave his name

Oba Agbabiaka

as Awoyega, said. He added that Oluomo’s supporters halted the execution of the treasurer. Apparently not satisfied because he did not achieve his aim, Olowu snatched up a bottle of beer, smashed it and used the

bottle to stab a man later identified as Oladimeji Kamoru on the left cheek. There was panic and confusion, as all the guests bolted. A policeman who accompanied one of the musicians tried to arrest Olowu but failed.

Commissioner lifts community with 600kva transformer Muritala Ayinla

he Lagos State Commissioner for Transportation, Comrade Kayode Opeifa, has donated a 600KVA transformer to the residents of Papa Ashafa community in Orile Agege Local Council Development Area (LCDA). Opeifa, who also empowered hundreds of youths and residents in the community, described the gesture as dividends of democracy. Speaking during the

presentation, the commissioner said the gesture was to halt the long wait of the residents, who had relied on the electric power provider to replace their burnt transformer. He said that the residents would have needed to contribute money before they could get a replacement as they would have waited till 2016. “The community needed one, and we all know that PHCN has been privatised and they said that the people will have to wait till September 2016.

And currently, there is none within the state. There is no other option; the community has to contribute money. “But since God has blessed us, we decided to provide it. They used to have one but it got burnt. And it was expected to be repaired. But someone promised them that he will get it from the electricity provider. Personally, we have done one but through the Lagos State government we have provided 15,” he said. Commending the ges-

ture on behalf of the residents, the Chairman of Papa Ashafa Community Development Area (CDA) and Community Development Committee (CDC) Chairman in Orile OrileAgege, Alhaji Yusuf Olajire Agboola, said with the new transformer, respite had come the way of the residents. Agboola said the replacement of the transformer would also boost economy of the community as artisans would spend less money to buy fuel to power their shops.

Two Chadians arrested for stealing phones Taiwo Jimoh

he Lagos State Taxi Drivers and Cab Operator Association, Ojodu Retail Market, branch has arrested two Chadians for allegedly stealing phones. They handed over the suspects to the police. Luck ran out on the two robbery suspects identified as Ibrahim Ali (23) and 25-year-old Ali Barisa yesterday at the busy Berger bus stop, when they posed as customers and stole three brands of phone from a shop owner. It was gathered that three persons, among them the two suspects, approached a seller to buy

The suspects

phone but to the surprise of the trader, two packs of phone had disappeared. The trader, Miss Rahmot Adeyemi, told our correspondent that she got

to the bus stop very early to trade before any of her colleagues selling phones. She said: “I was so happy when I saw the three of them; my thought was

that they would all buy phones. One of them asked for the price of D800 brand of phone from me and I told him it was N3,500. “He asked me to sell it for him for N3,000 and I said no. Then the two of them started speaking Hausa language, one was telling the other to hide the phone and run away. “I challenged one of them why he should tell his friend to disappear with my phone. As the matter was going on some other traders at the bus stop who were listening to our conversation ran after one of them and recovered the phones from him.”

NDDC targets 10,000 for free health programme Babatope Okeowo Akure

he Niger Delta Development Commission (NDDC) has targeted 10,000 people from various parts of Ondo State as beneficiaries of its free health programme. Already, about 6,000 people from various communities in Ondo South and North senatorial districts of the state have benefited from the free medical programme. The programme, put in place in conjunction with Pro-Health, was executed in Igbobini, EseOdo Local Government, Odun-Igho in Ilaje Local Government Area and Ajowa-Akoko, Akoko NorthWest Local Government. The programme involved treatment of eye diseases, laboratory test, dental, eye surgery and distribution of drugs. Speaking at the inauguration of the programme at Odun-Igho in the oil producing Ugbo kingdom, the Commissioner representing the state on the board of NDDC, Hon Benson Amu-

wa, said the programme was meant to alleviate the suffering of the people. According to him, the programme was as a result of the findings that many of the people at the grassroots level could not afford the cost of the treatment of the ailments they suffer from. He said since the commission was put in place for the development of the land and the people of the Niger Delta region of the country, there was the need for it to be proactive over issues that affect them. The commissioner explained that with prompt release of funds to the NDDC, the people would witness more development. Amuwa, however, urged the people to continue to support President Goodluck Jonathan to enable them continue to witness development. The team leader, Dr Levanus Martins, said the team in Igbobini attended to over 2,000 patients from Igo and other neighbouring communities.

Aspirant donates N30m equipment to health centres

Some of the equipment

Kunle Olayeni Abeokuta

House of Representatives aspirant in Ogun State, Olubiyi Ismail, has donated medical equipment worth N30 million to 32 primary health centres in Ijebu North, Ijebu-East and Ogun Waterside local government areas of the state. At a mega empowerment he sponsored in Ijebu-Ife, Ismail, who is a United States-based telecommunications engineer, also offered free eye treatment and health screening for no fewer than 500 rural dwellers in the area. Some of the items donated include manual and electric beds, crutches, examination tables, wheel chairs, paediatric scales, bedside tables, walkers, pillows, mattresses and bed sheets, among other

medical equipment. Ismail, an aspirant on the platform of All Progressives Congress (APC), said he donated the items to complement the efforts of Governor Ibikunle Amosun-led administration in the health sector. He explained that his visits to various health centres in the IjebuNorth/Ijebu-East/Ogun Waterside Federal Constituency showed inadequate medical equipment and infrastructural facilities. He said: “Right now, I see the health sector as being very key and important place to make a change. Someone can come tomorrow and look at educational sector. If different politicians can look at different sectors with us all not doing the same thing all over again like we are reinventing the wheel, we will never move forward.

12 NEWS

Sanctity of Truth

Monday, August 18, 2014

Enugu impeachment: Lawyer faults media reports CONJECTURES Enugu House counsel thinks Onyebuchi is being pampered by media reports Uwakwe Abugu ENUGU

ounsel to the Enugu State House of Assembly, Nduka Ikeyi, representing the as-

sembly at the seven-man panel trying the state Deputy Governor, Mr. Sunday Onyebuchi, on the allegations of gross misconduct leveled against him has raised an eyebrow over alleged inappropriate reporting of the proceedings of the panel by some sections of the media. Following the slumping of the deputy governor last Thursday, when he was on the dock testifying at the panel, hearing

‘Voters need more time to collect permanent cards' Yekeen Nurudeen ABUJA

South East DemoThashe cratic Network (SEDN) urged the Indepen-

dent National Electoral Commission (INEC) to extend the time for distribution of permanent voters’ cards across the country to enable registered voters to obtain them. The Network said the three days the Commission slated for distribution of permanent voters’ cards in some parts of the country, particularly the Federal Capital Territory (FCT) was insufficient for millions of registered voters to collect their per-

manent cards The group, which stated this in a statement issued in Abuja yesterday by its General Secretary, Okereke Elvis Orji, noted that adequate public awareness has not been created by the electoral body in respect of the ongoing exercise. "We commend INEC for improved conduct of elections in Ekiti and Osun states and urge the Commission to work harder ahead of 2015 general elections. Nigerians expect free, fair, credible, transparent and peaceful elections. We enjoin politicians to shun violence and imbibe issue- based campaign" it said.

resumes today even with the ban on journalists, who have been picking pieces of information outside the court room. However, speaking to reporters in Enugu, Ikeyi noted that some of the news reports on the proceedings had been " most inaccurate and full of conjectures", saying there appeared to be a deliberate effort to exclude evidence considered damaging to the Deputy Governor’s defence in the alleged skewed reports. He also alleged that none of the reports had so far reflected the evidence given by witnesses to the House of Assembly, nor did they reflect evidence elicited under cross-examination from the Deputy Governor’s witnesses. On the alleged inaccuracy of the reports, the counsel cited an example,

90%

stating that it was untrue, as reported in some newspapers that the panel continued proceedings after the deputy governor slumped on Wednesday, while being led in evidence by his counsel, Mr. Peter Eze. He said that, contrary to the report, the panel rose immediately the deputy governor was rushed out of the court room, and later invited counsel on both sides to discuss how to deal with the situation and that it was during that meeting that it was agreed that the panel should resume by 2pm to receive a report on the doctor’s evaluation of Onyebuchi’s condition. His words: "When the panel resumed sitting at 2pm, Chief Chris Aghanwa, lead counsel to the Deputy Governor, tendered a report, which

The percentage share of water-related hazards of all natural hazards. Source: Unesco.org

showed that the Deputy Governor had postural hypotension. Counsel to the Deputy Governor asked that the matter be adjourned to Monday 18 August. The Panel, however, preferred to deal with the matter one day at a time; and directed the parties to return the following day (Thursday) to receive further update on the state of health of the Deputy Governor. "On Thursday (14 August), counsel to the Deputy Governor, reported that he was not yet in a condition to continue his testimony and once again applied for the matter to be adjourned to Monday 18 August and further stated that the Deputy Governor would be his last witness, meaning that he would no longer require the evidence of the government officials whom

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

he had earlier caused to be summoned", he explained. Ikeyi added that he responded that he did not object to the application for adjournment, but requested that since the His Excellency, the Deputy Governor was a public officer in the Enugu State Government, that the panel should obtain the opinion of a specialist cardiologist from a medical facility operated by the State Government. He denied doubting the competence or objectivity of Dr. Anusiuba, who had seen the Deputy Governor immediately after the incident, but added that Dr. Anisuba, who works at the University of Nigeria Teaching Hospital (UNTH), however, saw the Deputy Governor as his private patient and not as a patient of the UNTH.

90,000

The estimated number of children that try a cigarette every day. Source: Smokingstatistics.org

National conference a deception, says Gumi Ibraheem Musa KADUNA

he just concluded NaTdeception tional Conference was a because the an-

swer to all the challenges bedevilling the nation is good governance, Sheikh Ahmad Gumi, a Kaduna based Islamic cleric said yesterday. Gumi, who made this observation in a statement issued in Kaduna, advised Nigerians to use their rights to vote in credible leaders in 2015 general elections. He noted that the lamentations which trailed the end of the conference signified that it was a failure.

The cleric, who is the son of the late prominent Islamic scholar, Sheikh Abubakar Mahmoud Gumi, noted that the conference was marred with irregularities and deception. He wondered how a select group can amend the constitution, when they are not representatives of the people. Gumi, who is a retired military officer and a medical doctor, noted that only a few of the delegates were truly representatives of Nigerians. ‘’Most were representing their personal interest. I, for instance, cannot say who represented me,’’ he pointed out.

Ribadu polarises Adamawa PDP Philip Nyam ABUJA

ome elders of the PeoS(PDP) ples Democratic Party have resolved to

work against the gubernatorial aspiration of former Chairman of the Economic and Financial Crimes Commission (EFCC) and erstwhile presidential candidate of the defunct Action Congress of Nigeria (ACN), Mallam Nuhu Ribadu. Ribadu bid farewell to the APC last Saturday and pitched his tent with the PDP. A chieftain of the party in Adamawa State,

who spoke to New Telegraph in Abuja yesterday on condition of anonymity, confirmed that Ribadu’s defection has already polarized the party in the state. The party member who disclosed this shortly after a meeting held at the residence of a senior national political office holder from the state in Abuja, said all functional members of the party are ready to work against alleged attempt by the National Chairman of the PDP, Alhaji Adamu Muazu to foist Ribadu as the candidate of the party in the state against all odds.

L-R: BoT member, Ambassador Aisha Audu-Emeje; Director General, Ogidi Ben Bara and Women Leader, Mrs. Funmi Uzo Nnaji, at the House-to-House campaign organisation rally in Abuja...Saturday

APC condemns renewed plan to remove Al-Makura Lateef Ibrahim ABUJA

he All Progressives Congress (APC) has condemned the renewed plan by members of the Nasarawa State House of Assembly to remove the state Governor, Alhaji Tanko Al-Makura. The party noted with regrets that state lawmakers were bent on thumbing their nose at the constitution in their desperation to remove the governor, who has been cleared of the charges against him by a duly constituted impeachment panel. APC, in a statement issued in Ilorin yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, pointed out that it would amount to an illegality for the lawmakers

to draft a pliant Vacation Judge, as it has been reported, to set up another panel to probe the same 16 allegations over which the governor has been absolved of any wrongdoing. According to the party; "the Constitution is clear that only the Chief Judge of the state can set up such a panel, upon receiving a request from the Speaker of the House of Assembly. Hence, any attempt to draft a Vacation Judge to set up another panel will mean working against the spirit and letter of the same Constitution that gave the legislature the impeachment power in the first instance". The APC also said that Al-Makura cannot be impeached on the basis of the same allegations, noting that if indeed the

lawmakers want to follow the Constitution, they will have to find a new set of alleged impeachable offences against the governor, notify him appropriately and then forward their request to the Chief Judge, not to a Vacation Judge. It said, ''That this latest move by the legislators, who are now marooned in Abuja instead of their base in Lafia, is being instigated by the PDP is not in doubt, irrespective of the unconvincing and tepid denial from the party. "That this illegality is being contemplated under the watch of President Goodluck Jonathan is clear for all to see. In fact, it is in line with the culture of lawlessness and impunity for which the Jonathan Administration has now become

infamous. ''This is the only reason why the Minister of Information, Mr. Labaran Maku, from Nasarawa State could be goading the state legislature to disregard the Constitution of the Federal Republic of Nigeria in its avowed determination to remove the Governor, for no reason other than he belongs to the opposition. "The Minister is well aware that he is functioning in an atmosphere that encourages impunity, and that the President will not sanction him for encouraging illegality. ''It is also as clear as daylight that the kind of money being dangled at the lawmakers to impeach Gov. Al-Makura at all costs could only have come from a deep purse or a war chest."

Misgivings over shadow government / PAGE 16 | Gale of defection rocks Ondo / PAGE 17

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Birthday reunites Oshiomhole, Igbinedion

p-18

MONday, AUGUST 18, 2014

NATIONAL CONFERENCE

What next after dialogue ends? The idea of convoking a sovereign national conference to discuss Nigeria has always been viewed with suspicion and apprehension in certain quarters. It was the battle cry of the human rights organisations and prodemocracy groups after the military annulled the results of the June 12, 1993 presidential elections. Twenty years after, the Goodluck Jonathan administration granted the request with the successful conclusion of the 2014 National Conference. In this report, ONWUKA NZESHI recaptures the highlights of the conference and examines what may happen next

t is often said that new ideas and opinions are always suspected and usually opposed for no other reason but because they are not already common. The political elite in Nigeria has over the years resisted the idea of a National Conference. They feared that the tag “sovereign” on it was a recipe for the dismantling of existing political structures and the disintegration of Nigeria. Even President Goodluck Jonathan had a few years ago expressed opposition to a conference that would have powers to challenge the status quo. But he later saw the need to allow the people exercise their fundamental freedom to gather in one place to discuss the future of the country in an unprec-

Jonathan

Kutigi

edented way. On October 1, 2013 when President Jonathan announced in a nationwide broadcast that his administration would organise a national conference to give Nigerians the opportunity to discuss the challenges confronting Nigeria, the idea was received with mixed feelings across the country. It was greeted with joy and hope in some quarters, but with suspicion, scepticism and apprehension in others. The different reactions were understandable given the long history of agitations for a sovereign national conference and the response of previous

governments to the idea. It was a surprise to many that even President Jonathan who had previously not been an advocate of the national conference suddenly decided to give the idea a chance. Even when some of the most influential and vocal opinion leaders spoke against the idea, the Federal Government went ahead to set up the Presidential Advisory Committee (PAC) on the National Conference to design the framework and modalities for the dialogue. When the PAC led by Dr. Femi Okurounmu toured the length and breadth of the country to sample the opinion of the

people at the grassroots, the team returned with a positive verdict that Nigerians were really concerned about the state of their country and wanted a forum to discuss several issues bothering them. The mandate On March 17, 2014, President Jonathan inaugurated the National Conference and gave it a period of three months within which to hold talks and produce a report of its deliberations and resolutions. He explained that the conference was to enable the 492 delegates “engage in deep introspection about the political and socio-economic

CROSSFIRE Until Osun State of our dream is realised, let it be known that our people would no longer be taken for granted as we have opened the floodgate of democratic challenge which no force on earth can stop -Iyiola Omisore

My advice to him and his party is: ‘don’t go to tribunal’. I am not expecting him to congratulate the governor but he should accept the voice of the people. His going to tribunal will jeopardise his next chance -Tam David-West

challenges confronting our nation and to chart the best and most acceptable way for the resolution of such challenges in the collective interest of all the constituent parts of our federation.” Jonathan said that the coming together of Nigerians from all walks of life was meant to build a fresh national consensus for the amicable resolution of issues that still cause friction among people from different parts of the country. He specifically mentioned the form of government, structure of government, devolution of powers, revenue sharing, resource control, state creation, state police, fiscal federalism, indigeneship and gender rights as some of the key issues that should engage the attention of delegates. “We cannot continue to fold our arms and assume that things will straighten themselves out in due course, instead of taking practical steps to overcome impediments on our path to true nationhood, rapid development and national prosperity. “It is our expectation that CONTINUED ON PAGE 14

14 POLITICS

Sanctity of Truth

Monday, August 18, 2014

NATIONAL CONFERENCE

What next after dialogue ends?

Akinyemi

Falae

Clark

Coomassie

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

In all of this, four committees stood out based on the assignment given to them. These include Committee on Devolution of Powers, Committee on Forms of Government and Political Restructuring, Committee on Political Parties and Electoral Matters and Committee on National Security.

sions (SIECs) are to be scrapped In a related development, each state will have its own constitution as it was for the regions during the First Republic. In addition, the states can now have their own police force if they so desire and this will run side by side with the federal police. The immunity clause is to be removed from the constitution to ensure that elected public officials are held accountable for their misdeed while in power. In order to engender a more decent political culture built on discipline and integrity, indiscriminate defection of elected officials from one party to the other would result in the loss of their seats especially for legislators and state governors. Since the country has had a history of bad elections, the conference decided that politicians found guilty of electoral fraud are to be disqualified and banned from taking part in future elections for 10 years. All litigations arising from the conduct of elections should be concluded before the winner of any election would be sworn into office. The much expected electronic voting system will be introduced in the conduct of elections in Nigeria after the 2015 gen-

eral election. The conference also approved the establishment of a Diaspora Commission to harness the human resource potential of Nigerians living abroad. These millions of Nigerians living abroad will now have the right to exercise their franchise during elections in Nigeria.

participants at this conference will patriotically articulate and synthesise our people’s thoughts, views and recommendations for a stronger, more united, peaceful and politically stable Nigeria, forge the broadest possible national consensus in support of those recommendations and strive to ensure that they are given the legal and constitutional backing to shape the present and future of our beloved fatherland,” Jonathan said in his inaugural address. Although the president spelt out the broad mandate of the conference, it was still not clear to the sceptics whether the dialogue would last beyond one week, let alone achieve its lofty goals. The execution Chairman of the National Conference and former Chief Justice of the Federation, Justice Idris Kutigi worked closely with the Deputy Chairman, Prof. Bolaji Akinyemi and Secretary, Dr. Valerie- Janette Azinge to execute the mandate of the conference. The conference worked through the 20 standing committees where each delegate had the opportunity to deliberate on specific issues assigned to each committee.

Key decisions It was from these key committees that major decisions were taken at the conference. At the end of the conference, it was resolved that the Local Government Council would cease to be a tier of government and would henceforth become the sole business of the states. Consequently, the 774 Local Government Areas will no longer be listed in the country’s constitution. In order to give teeth to this resolution without undermining the local government system, the conference resolved that all local government council officials would henceforth have a guaranteed tenure of three years. Similarly, all elections including those for the local government councils will henceforth be handled by the Independent National Electoral Commission (INEC) as the State Independent Electoral Commis-

Chairman, National Conference, Idris Kutigi (middle) flanked by the delegates during the adoption of the final report and closing of the conference in Abuja last Thursday

Last battle It would be recalled that in the last few days of the conference, the delegates were at war with one another over what should be done with these decisions. A good number of delegates, particularly from Southern Nigeria wanted these decisions translated into a new draft constitution while their colleagues from Northern Nigeria wanted the decisions left as mere recommendations to be transmitted to the government. The battle became intensified when a document tagged “Draft Constitution of the Federal Republic of Nigeria 2014” was found in the final report. The Northern Delegates Forum (NDF) at the National Conference promptly rejected the said document and described it as a calculated attempt by some fifth columnists at the conference to foist another third term agenda on the country. The NDF alleged that adopting a new constitution was a plot to enable incumbent elected office holders who are statute barred from going for another term having been elected twice to the same office, to go for a third term under the guise of running under a new constitution. The forum comprising delegates from the North West, North East and North Central zones claimed that their members were neither privy to nor were they accessories to the emergence of the controversial document distributed to delegates on Monday ahead of resumption of plenary. Co-chairman of the NDF and former Inspector General of Police, Alhaji Ibrahim Coomassie said that northern delegates would have nothing to do with the document because they were not elected and therefore lacked both legal and moral authority to draft a new constitution for Nigeria. The National Conference, Coomassie said, was constituted as representatives of a broad interests across the federation to serve as an ad hoc advisory mechanism to the president and cannot arrogate to themselves the function of making a new constitution for the country. According to him, only an appropriately constituted Constituent Assembly

POLITICS

Sanctity of Truth

Monday, August 18, 2014

NATIONAL CONFERENCE Highlights of decisions reached

Confab Facts and Milestones Date of inauguration

March 17, 2014

Plenary ends

July 14,2014

Adoption of Report

August 14, 2014

Number of delegates

492

Secretariat

Budget

N7billion

Duration

Four months Principal Officers

Justice Idris Legbo Kutigi

Chairman

Professor Bolaji Akinyemi

Deputy Chairman

Dr (Mrs) Valerie-Janette Azinge

Secretary

Committees •

Devolution of Power

•

Political Restructuring and Forms of Government

•

National Security

•

Environment

•

Two tiers of government - federal and states (as the federating units).

•

774 LGAs no longer listed in the constitution.

•

All elections will be handled by the Independent National Electoral Commission (INEC)

•

Scrapping of the State Independent Electoral Commissions (SIECs)

•

Three years guaranteed tenure of LG officials

•

State police

•

Abuja assumes the status of a state with an elected Mayor

•

Each state to have its own constitution

•

Immunity clause to be removed from the constitution

•

Politicians found guilty of electoral fraud risk 10 years ban.

•

Introduction of electronic voting system in 2015

•

Conclusion of all electoral litigations before swearing-in

•

Diaspora voting

•

Establishment of a Diaspora Commission.

•

Five per cent for the development of solid mineral

•

Loss of seats as a result of defection

•

Creation of 18 additional states

Barrister Hamma Misau, a delegate on the platform of the Retired Police officers), from Bauchi State, died on Thursday, March 27, 2014

members WhO died

•

Politics and Governance

•

Law, Judiciary, Human Rights and Legal Reforms

•

Social Sector

Dr Mohammed Jumare, a delegate representing Kaduna State, died on Monday May 5, 2014

•

Transportation

•

Science Technology and Development

Professor Dora Akunyili , a delegate who represented Anambra State at the conference died on June 7, 2014 after a protracted battle with cancer.

•

Agriculture

•

Civil Society, Labour and Sports

Professor Muhammad Nur Alkali, delegates representing the Supreme Council for Islamic Affairs (SCIA) at the National Conference. Alkali died on Friday, August 1, 2014.

•

Public Service

•

Political Parties and Electoral Matters

•

Foreign Policy and Diaspora Matters

•

Land Tenure and National Boundaries

•

Economy, Trade and Investment

•

Energy

•

Religion

•

Immigration and Related Matters

•

Public Finance and Revenue

could give the country a new constitution and accused the leadership of the conference of working with some fifth columnists whose goal was to subvert democratic processes and plunge the country into avoidable political crisis. In response to the NDF, a former Federal Commissioner for Information and leader of the South-South delegation at the conference, Chief Edwin Clark, said there was nothing wrong with the document except that some persons wanted to create confusion at the closing stage of the conference. According to Clark, there was nothing wrong with the draft constitution because if the resolutions of the conference must be implemented by the government to give birth to a new Nigeria, there must be an instrument to accomplish the task. Similarly, another delegate from South-West, Chief Olu Falae said the allegation by northern delegates, accusing confab leadership of harbouring a third term agenda for President Jonathan and other present political office holders with the introduction of a purported new constitution for Nigeria was false. Falae said that what the Northern delegates were trying to do was to mislead the public about the true position of things at the conference. Former Minister of Foreign Affairs, Gen. Ike Nwachukwu, who also spoke in support of the document said the conference had simply presented to

Misau

Jumare

Akunyili

Alkali

delegates the decisions earlier reached at the conference. Nwachukwu said that the report should be placed in the public domain so that Nigerians will understand what the conference had done so far instead of being fed with falsehood by a few. Chairman of the All Progressive Grand Alliance (APGA), Chief Victor Umeh described the protest of the northern delegates as crying wolf where there was none. He said that those raising the false alarm were people who did

not want the conference to hold in the first place and had been doing everything possible to scuttle it. According to Umeh, their attack on the conference draft report was to ensure that the final report would be discredited and sent to the dust bin. It took a renaming of the “offensive document” for the conference to adopt its final report. What’s next? Now that the conference is over, what is next? The conference report

will be formally submitted to President Jonathan on Thursday August 21, 2014. Thereafter, the ball will be in the court of the Presidency to decide what to do with it. It is expected that the Presidency will study the three volumes of the report and decide the appropriate steps to take in actualising the goals of the conference. One of the options open to the President is to send the entire report to the National Assembly and leave the parliamentarians to use their initiative in incorporating the decisions of the conference into the ongoing process of amending the 1999 Constitution. The Presidency also has the choice of dis-articulating the report and sending some of them as executive bills to the National Assembly to aid the parliamentarians in the process of law-making and constitutional amendments. But there are fears in some quarters that the members of the National Assembly might not be favourably disposed to giving the report of the National Conference, the right attention. Many Nigerians including delegates to the conference believe that the easiest way to send the report to an early grave is to send it to a parliament that has shown clear penchant to protect the old political system rather than embrace change. The second option open to the presidency is to study the report carefully to identify the key issues and aspects of policy and bureaucratic regulations that could be implemented through executive fiat. This option would enable the government get some quick results from the conference without necessarily going through the National Assembly. The third option is that the Presidency can initiate an intense lobby at the National Assembly to convince the parliament to amend the existing constitution and make provision for a referendum. When this is achieved, it would pave the way for the government to present the critical and fundamental decisions of the conference as captured in the “draft constitution” to the general public in a referendum. The fourth option may arise in the event that the National Assembly failed to incorporate the referendum clause on their amendment of the 1999 Constitution. Some analysts have suggested that the president could assume his inherent powers under Section 15 of the 1999 Constitution and go ahead in a national broadcast to declare that a referendum shall be conducted on the resolutions of the conference. As a follow up, he will then empower INEC to conduct the referendum. The legal basis for that will be drawn from the maxim of lex posterior derogate legi priori, a doctrine which states that a new law supersedes the one that came before it. He would also be relying on the doctrine of implied mandate which makes an act of illegality validated by its efficacy. The idea is that since the president has already convoked the national conference; he has also gotten the National Assembly to approve a budgetary allocation for the conference. This has legitimized the conference, more so when the entire people from all the regions and groups in the country have sent delegations, memoranda and position papers to this conference. The president could rely on the maxim of lex posterior derogate legi priori and the doctrine of implied mandate to complete the job. The last option is perhaps to make haste slowly by keeping the report of the National Conference in the cooler for a while and later using it as a working tool in the build up to the 2015 general election. In this light, the Presidency could identify the salient aspects of the report like the creation of new states with more autonomy and elevate it to an issue during electioneering.

16 POLITICS

Sanctity of Truth

Monday, August 18, 2014

Misgivings over shadow government ETAGHENE EDIRIN reports that the threat by the All Progressives Congress (APC) to form a parallel government should it lose the 2015 general election, and the reply of the ruling People’s Democratic Party (PDP) seems misconstrued on the part of both parties

s part of efforts to build a formidable political structure that will effectively tackle the ruling party at the centre, a group of stakeholders came together and merged to form what is today known as the opposition All Progressives Congress (APC), which has taken it as a point of duty to keep the ruling Peoples Democratic Party (PDP) on its toes. And one way the APC has done that has been to maintain a standpoint of criticism by condemning virtually every policy, action or inaction of the PDP, especially at the national level. In fact, it would be untrue and an exercise in self deceit to say the PDP leadership has never had sleepless nights over the criticisms or likely criticism of the APC. However, prior to the recently concluded governorship election in Osun State, the opposition APC went a step further when it accused the PDP of plans to rig that election and the forth coming general election. The APC not only criticized this suspicion, but threatened to form a parallel government if the PDP should rig the 2015 presidential election. National chairman of the party, Chief John Odigie Oyegun, had in Osogbo, the Osun State capital, promised that the party would set up a parallel government if the PDP attempts to ‘steal peoples mandate’ during the 2015 presidential election. Speaking at the final governorship election rally at the state stadium, Oyegun also warned that any move by the PDP to tamper with a single vote will mean that a battle line would be appropriately drawn. According to him, “we will not recognise a fraudulent government from any quarters and if anybody dares to steal people’s mandate in February 2015, we will proceed to set up people’s government that will be people-oriented. “The battle line has already been drawn. The APC will no longer accept any stolen mandate. We shall not recognise any government that emerges through rigging in February 2015.” As usual, piqued by APC’s accusations, criticisms and the new threat, National Publicity Secretary of the PDP, Olisa Metuh, fired a salvo at the APC, accusing it of making a treasonable pronouncement that is capable of reenacting the Arab Spring incidence in Nigeria. According to him, the leadership of the APC was in collaboration with some people from foreign countries to cause chaos, with the sole aim of forcefully taking over government after losing out in the 2015 general election. He said: “Nigerians need to be reminded that the APC’s understanding of ‘rigging’ is where they lose election. Whenever they win as was the case in Edo, it is free and fair,” adding, that “It is a globally-acknowledged fact that shadow or parallel governments have no place in a presidential system. Therefore, the threat to institute such is nothing short of implementing the agenda to destabilise and collapse the democratic system and institute a reign of anarchy”. According to Metuh, the pronounce-

Oyegun

ment “explains why they (APC) had been making inflammatory statements and publishing negative advertorials and articles in local and foreign media to incite Nigerians, embolden insurgents and stir hatred and division among the populace while balkanising the nation along its fault lines.” Not yet done, the PDP spokesperson also accused the APC of cultivating a fertile ground to unleash a reign of terror against the country, adding that, “all the pockets of anti-government protests and calls for civil disobedience in parts of the country bear the imprints” of this. And that, “The attacks on institutions of government, including the judiciary and the security agencies are all part of the larger plot to weaken government systems and make them vulnerable and powerless and set the stage for the materialisation of their ignoble plans”. Minister of State for Works, Mr. Adedayo Adeyeye, also added his voice to condemn the APC’s pronouncement, and cautioned the APC leaders against instigating bloodshed as they did during the 2011 elections. The minster in a recent statement in Ado-Ekiti, Ekiti State, said it was unbecoming of a party that wants to rule Nigeria to be threatening to cause anarchy in the country, adding that “Nigerians must begin to take note of what the APC intends to do in 2015 because it will definitely lose the presidential and other elections scandalously.” Adeyeye, who said the threat must not be taken with levity, added that it was the same way the APC instigated violence after the 2011 presidential election, leading to the murder of several youth corps members. The declaration by both sides of the divide however, has drawn a couple of knocks from many Nigerians who have stated that both parties seem to be playing to the gallery, and that such seems to have become their trade in stock: to bamboozle Nigerians with their arguments and criticisms, yet doing nothing substantial to show they have the welfare of the people at heart. According to this school of thought, both parties have totally taken the concept of shadow or parallel government as obtains in a civil democratic set up, and turned it into something for their usual exchange of political brickbats, motivated only by their political interests, with no intention of examining how it would benefit the nation by advancing, or strengthening democracy in the

Mua’zu

The battle line has already been drawn. The APC will no longer accept any stolen mandate. We shall not recognise any government that emerges through rigging in February 2015 country. Analysts explain that in most advanced democracies the world over, it is the responsibility of a viable opposition political party to form a shadow government with portfolios assigned to individuals, to propound alternatives to policy statements of the ruling government, as well as constructive criticisms, as a means of convincing the people that they can do better if elected into power. It is the shadow government’s responsibility to criticize policies, actions and inactions of the ruling government, as well as offer alternative programmes. It is not a body or government with any authority, nor does it ascribe any power to itself. It is merely a concept to put the government on its toes, and any well meaning government will gladly welcome it. From its informal beginnings in Britain to the modern Australian version, one major role of a shadow cabinet has been to provide experience and training for potential future cabinet members, and most notably, to present itself as an alternative government; it can do this by modeling its structure on that of the government by allocating portfolios in various areas to members. While arguing its case against the incumbent party and providing an alternative policy vision, the shadow government also provides superior agenda-setting capacity, to demonstrate how government would appear should it be in charge. Analysts are of the view that both political parties seem to be missing the vital points inherent in the concept of shadow governance as an important component of good governance, but instead attempting to bamboozle the electorate by overheating the polity, and ex-

hibiting their characteristic emptiness of political ideological substance, or genuine concern for meaningful beliefs development. Many are of the view that setting up a parallel, or shadow government is a good idea, in as much as it is not presented as a confrontation to stir up dissent, or violence against the ruling party, but merely a theoretical concept to demonstrate the alternative, and choice available to the people at the next election. A political activist and former presidential candidate of the African Democratic Congress (ADC) Prof Pat Utomi who himself once formed a parallel government, complete with portfolios assigned to different individuals noted that the shadow government which is different from the parallel government, is the standard Westminster model. He noted however that nothing says it cannot be operated in a presidential system as obtains in the country. According to him, there is already a variant of it epitomized in the American tradition of opposition spokesperson replying to presidential radio address. While many contend that the APC is already planning defeat scenarios, given its seemingly underdog position against the PDP, they also point out that the party has not in any way shown that they can be trusted to provide a more viable government, that would meet the aspirations of the people, or that they can in the least come up with better policies that would turn the country around, economically, or politically. Watchers of the unfolding squabble between both parties also contend that the PDP on its part, rather than threaten the opposition with jail, or fall into the entrapment of the APC, by contributing to heating up the polity, should encourage the opposition to present a more impressive challenge, by engaging them in a friendly debate, to first of all inform Nigerians, of who would make their list of ministers if they were to be in charge of government. To advance democracy in the country, analysts advocate that there is a need for politicians to ensure that politics is more about ideas and principles geared towards moving the country forward. They contend that the ‘pull them down by all means’ notion of opposition parties in the country, and the ‘winner takes, or knows it all’ conception of the ruling party are concepts that only advance individual concerns, and not national interests.

POLITICS 17

Sanctity of Truth

Monday, August 18, 2014

Gale of defection rocks Ondo In the last few months, the political atmosphere in Ondo State has been active as politicians moved from one political platform to another discarding the ideological divides of the political parties. Babatope Okeowo examines the defection fever

ften times, the game of politicking, especially the kind of murky nature that is the lot of the Nigerian version of it, has been described as one where there is no permanent friend or foe, a characteristic that has made it difficult to put a definite ideological barrier between the different political platforms. In Ondo State, this shifty nature of the players on the political turf is brought to the fore almost on daily basis as politicians, in preparation for next year’s general election, have been engaging themselves in the unending cycle of alignment and re-alignment in a fluid process that is making it difficult for analysts to predict with a certain degree of accuracy, where a particular politician would be the next moment. Observers however believe that the gale of defection, which is sweeping the political landscape at a great speed, can be used to measure the political temperature of the state to know where the pendulum of power would swing in the coming poll, because politicians, like ants drawn to sugar, have antenna to read the power barometer and galvanise towards it. In the last three months, the political scene has been agog with many politicians leaving their previous parties to team up with new ones with reasons ranging from the genuine to the absurd, confirming the assertion that it is about the power game and how to acquire it. While Boluwaji Kunlere, a senator representing Ondo South on the platform of the Labour Party (LP) is rumoured to be on a home coming trip to the Peoples Democratic Party (PDP) where he was a former state secretary, Chief Tayo Alasoadura, a former Commissioner for Finance is planning to retrace his steps home to the PDP from the All Progressives Congress (APC) where he for six years was a Commissioner for Finance under late Dr. Olusegun Agagu. For those who are close to Kunlere, his public declaration is a matter of days as he has completely fallen apart with the leader of the party, Governor Olusegun Mimiko who braced the odds to ensure he defeated Agagu who many saw as the favourite to win the seat. During the 2011 electioneering, Mimiko raised the hands of Kunlere up and told party supporters that “this is the David that will defeat Goliath of the PDP.” To every political observer, Agagu was going to clinch the seat as he had the structure, support and the fund to defeat his main challenger in the election. But the game changed when despite all the odds, Kunlere backed by Mimiko defeated Agagu. In the list of those planning to defect to PDP is the Action Congress of Nigeria (ACN) flag-bearer in the last Ondo State governorship election, Mr. Rotimi Akeredolu (SAN) and Tayo Oluwatuyi popularly known as Tukana, a former chairman of Akure South Local Government and Commissioner for Local Government and

Mimiko

Kunlere

Enikuomehin

Alasoadura

Chieftaincy Affairs. They are said to be having the same dream of becoming PDP members. Also on the rumoured list are Kunlere’s counterpart in the Senate, Dr Patrick Ayo Akinyelure, representing Ondo Central and Segun Ojo, who was a Commissioner for Finance between 1999 and 2003 and Mr Niran-Sule Akinsuyi, immediate past Commissioner for Special Duties. But if all these are in the realm of speculations, many politicians have publicly declared their intentions to jump ship and move on to other platforms. Among these is Prince Ademola Adegoroye, a former lawmaker who was the governorship candidate of Action Congress (AC) in the 2007 election who dumped the party for PDP shortly after the election over irreconcilable differences with the leadership of the party. He has since retraced his step to the progressive fold. He described his voyage at the PDP’s camp as the low moment in his political carrier. He said he decided to team up with his erstwhile party because the then leadership of the AC supported Governor Mimiko who was the Labour Party (LP) candidate over him. As Adegoroye was leaving the PDP for APC, the candidate of the party in Owo/Ose federal constituency in 2011 election, Chief Femi Adekanmbi left APC for PDP with all his supporters in the federal constituency just as about 2,000 members of ruling LP and APC in Ose Local Government area dumped their parties for the PDP. They were led by Daniel Ekundayo Asekhamen, a candidate of ACN in the 2011 local government election.

The new PDP entrants said they decided to join the party in the state because of the internal democracy prevalent in their former party. Also in the league of defectors is a former commissioner on the board of Niger Delta Development Commission (NDDC), Dr. Benson Enikuomehin who left PDP for LP and later retraced his steps to the PDP. Speaking on behalf of other defectors that included the immediate past chairman of Eseodo Local Government, Mr. Akin Sowore, Enikuomehin said he was deceived to believing that once Mimiko wins the governorship election under the platform of LP, he would defect to the PDP. He said many of them were members of PDP in Abuja and members of LP in Ondo State, a development that made them have two party cards. Enikuomehin said he and his supporters from Ilaje/Eseodo federal

Many of the politicians in the state are gravitating towards PDP, while others are leaving for APC. The major casualty is the ruling LP, whose members are daily leaving in droves to rival political parties

constituency have decided to remain in the PDP and work for the victory of the party and its candidates in future elections, saying he fell out with Mimiko and LP because the party has no good plan for the people of the riverine areas of the state. His words: “Despite the N2.1billion that accrues to the state monthly as 13 per cent oil derivation from federation account, the Ilaje/Eseodo federal constituency has nothing to show for the whopping amount of money.” He regretted that his constituents have been left unattended to since Mimiko administration came on board five years ago. The defectors’ train which took off in Ondo North quickly moved to Ondo South and has now berthed in Ondo town, the constituency of the incumbent governor in Ondo Central. And the defectors were former Special Assistants and political soul mates to the governor. The former appointees included immediate past Chairman of Ondo West local Government, Mr. Aro Benard and Special Assistants who were attached to various offices by Governor Mimiko in his first term. The Special Assistants were led by Messrs Adewale Williams and Fred Ojo. Speaking at a rally in Ondo, Williams said he led his supporters out of the ruling LP because the party and government have become personal properties of the governor. According to him, the government is not living up to expectations of the people since it was voted into office for the second term. Both Williams and Ojo said good governance is lacking in the state as many of the projects embarked upon were cosmetic in nature. According to him, “LP does not reward loyalty, hardwork and commitment. There is no dividend of democracy as there is no water, road and human development.” Aside the LP members who left for PDP, members of the executive committee of APC in the local government led by Valentine Ikusika said he led over 2, 000 members of APC to PDP and hinged his decision on the alleged undemocratic practices in his former party. He said some of those who left the APC with him were leaders of their political wards in the local government. According to him, the party is not ready to win any election in the state as the leadership of the party was always interested in sharing fund for elections and later vamoose into thin air after each election. Each time chairman of the PDP in the state, Mr. Ebenezer Alabi has the opportunity to receive new entrants, he usually says they should not see themselves as new comers into the party as there is no founder and joiner in the party. Alabi said the reward for hard work in the party is success at the polls as the party would not leave any stone unturned in order to ensure that the party wins the next round of elections in the state. Similarly, the PDP’s candidate in last governorship election in the state, Chief Olusola Oke said the development in the state points to the fact that the party would win the next election in the state. According to him, what happened when the PDP won in 2003 is repeating itself as many people are joining the party on daily basis. In the rumoured defection and actual defection, many of the politicians in the state are gravitating towards PDP, while others are leaving for APC. The major casualty is the ruling LP, whose members are daily leaving in droves to rival political parties. Whether or not this would affect the political fortune of LP in the forthcoming elections would be answered in a couple of months.

18 POLITICS

Sanctity of Truth

Monday, August 18, 2014

Birthday reunites Oshiomhole, Igbinedion CAJETAN MMUTA examines the visit of Esama of Benin, Chief Gabriel Igbinedion, to Governor Adams Oshiomhole which many terms as political reconciliation

opular business magnate and politician, Chief Gabriel Osawaru Igbinedion, the Esama of Benin, recently met with the Edo State Governor, Adams Oshiomhole, behind closed doors at the Government House, Benin, the state capital. The meeting has added to the political puzzle in the state. The dust stirred by the sudden ‘union’ of the two personalities raises concerns ahead of the 2015 elections. Many interpretations have also been adduced to the visit. Igbinedion, the father of former governor of the state, Lucky, in a long convoy stormed the Osadebay Avenue, the seat of power, at exactly 1:05p.m. in his customized maroon red Rolls Royce phantom car. The Ovia born Benin chief during the surprise visit spent about 35 minutes behind closed doors with Governor Oshiomhole. At the end of the meeting, the Esama of Benin said: “He (Oshiomhole) is the governor of Edo State and I have come to see my governor.” Igbinedion thanked Oshiomhole for receiving him and his entourage to his office. The governor on his part congratulated the Peoples Democratic Party (PDP) chieftain on his forthcoming 80th birthday. He acknowledged the receipt of an invitation extended to him and assured his guest that he would personally attend the birthday bash expected to attract crème de la crème in the society. Oshiomhole said: “Let me welcome you formally to my very modest office, thank you for taking time out to visit. I am in receipt of your birthday invitation; I promise you that I will be there with our friends. It is something that we want to join in celebrating because longevity and good health are a rare combination. “Some people have longevity, but poor health, others have good health but not long life; so when God gives you both, only He and He alone decides whom he chooses to favour.” As at the time of the visit, Igbinedion was obviously absent at the PDP South-South Stakeholders Forum held penultimate weekend in Calabar, the Cross River State capital. Many interpretations have been ascribed to the meeting between the two brothers from different political camps. Some analysts are of the view that Esama’s visit to the Comrade Governor indeed speaks volume. It is believed that it may not be unconnected with the protracted crisis that has continued to rock members of the nine PDP legislators and 15 APC lawmakers over the control of the legislative house. The battle of wits, might and funds has defied all known mediations, suggestions and counsels ably advanced by various stakeholders including the highly revered Oba of Benin, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Erediauwa, other royal institutions, civil society organisations and other highly respected individuals in the state. This is so because of the unyielding posturing in the over three months of sour political promptings and horse trading by forces of the ruling APC and the opposition PDP. Another school of thought has it that it was part of the political realignments tilting towards the 2015

Igbinedion (left) with Oshiomhole

project which promises a lot for politicians in the 36 states of Nigeria. In Edo, the tenure of the incumbent governor will end in 2016. Interestingly, there is a secret but fierce plot by forces within the APC and the PDP in the game plan leading to the 2015 and 2016 polls in the state. Strong indications point to the fact that the ruling APC is favourably disposed to allowing the South senatorial district to which Igbinedion belongs produce the next governor of the state, while the north zone (Oshiomhole’s political strong base) is expected to produce a deputy governorship candidate. Already, the ruling party has positioned a northerner for the chairmanship seat of the party. While it is still believed that the concept of give and take in politics cannot be completely dismissed, particularly, given the inevitability of political somersaults and surprises, the visit might not be far from an extension of an olive branch to the state governor. A quick reminder is that the Comrade Governor had late last year reconciled himself with the Esama after a frosty relationship. Both politicians were at daggers drawn during Oshiomhole’s re-election on April 14, 2012 at which point Igbinedion made a surprise return to the PDP at the peak of the campaigns. The dramatic twists had attracted official and public frowns following media war and criticisms that trailed it. The government did not hide its bitter venom with endless attacks. Igbinedion’s tacit move was seen as a slight on the government of the day. It was also believed to be a renewed move to his son from the grip of the anti-graft agency, the Economic and Financial Crimes Commission (EFCC) in its bid then to prosecute the ex-governor Lucky Igbinedion for the second time. Dramatically and in what seemed then as a retaliatory move, the state government on April 12, 2013 quickly declared its resolve to revoke parcels of land spanning several acres said

to belong to the Benin chief when Oshiomhole’s campaign train moved to Okada, the political strong base of Igbinedion in Ovia North East and Ovia South West local government areas as well as Orhionmwon local government area as part of the then ACN campaigns for the April 20th local government elections. The said land was being sublet to farmers in Ovia North East council but the state government seriously kicked against it, saying the steps taken by some individuals are meant to exploit the common and helpless farmers at their selfish advantage. Oshiomhole apart from revoking the land also assured farmers in the councils that they were free to farm on the land without fear of molestation. According to him, “the reason we revoked the land is simple. Every Nigerian has a right to live in any part of Nigeria. I lived in the North, I was

The governor on his part congratulated the Peoples Democratic Party (PDP) chieftain on his forthcoming 80th birthday... and assured his guest that he would personally attend the birthday bash

not treated as a settler. Therefore, we cannot be here while fellow Nigerians who are cocoa farmers are treated like tenants.” Oshiomhole added that “in this land there are only two authorities, the Edo State Government and His Royal Majesty, the Oba of Benin. That land has been reclaimed for the good of the people of Edo State. Anybody farming on that land will pay tax to government.” The rest is now history as the governor had since put the burning issues behind and had extended hands of friendship to all in the interest of peace and development of the state. Igbinedion may not have been alone in the steps taken by the state government. What is now the poser is the likelihood of Igbinedion pitching tent again with the APC as speculated in some quarters following his visit to the governor. However, Special Adviser to Governor Oshiomhole on Media and Publicity, Prince Kazzim Afegbua, put a death nail to all speculations when he told New Telegraph that there was nothing extraordinary or political in Igbinedion’s visit to the state chief executive. He said the Benin chief personally took his 80th birthday invitation card to the governor to acquaint him about it and to let him know that he is the chief host of the event. The governor’s media aide pointed out that Oshiomhole’s APC-led administration “is not running an exclusive government and the government is for all sons and daughters no matter how highly placed.” Afegbua added that: “Chief Igbinedion is one of the prominent sons of Edo State and just visited the governor to acquaint the governor about his birthday and to tell him that he is the chief host. There is no insinuation about it and there is nothing like politics about the visit.” Pundits expect that the new found relationship between the governor and Esama of Benin will be permanent and for the interest of the state.

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EDITORIAL

Sanctity of Truth

Monday, August 18, 2014

w w w.new telegraphonli ne.com

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

MONDAY, AUGUST 18, 2014

Maximising gains from the US-Africa Summit

n search of critical and strategic interests to secure the long-term wellbeing of their various countries, over 40 African leaders recently met with the US President, Mr. Barack Obama inWashington. So successful was this first summit between the US and these African countries that the host President Obama regarded in many quarters as the world’s biggest individual draw card, described it as an "extraordinary event." African Union Commission chairwoman Nkosazana Dlamini-Zuma said at the summit’s end: "I got the impression that African leaders actually enjoyed the summit, particularly interacting with businessmen. At most of these summits, you are not offered that opportunity. Leaders were saying that is what was unique about this summit." President Jacob Zuma of South Africa also said through a statement by the Presidency after the summit that "the US-Africa Leaders’ Summit has reshaped the relationship between Africa and the US and augurs well for co-operation for mutual benefit into the future." Among the most important purposes of the milestone summit on Africa, President Obama recorded resounding success in the objective of advertising the continent as a big but long underrated economic powerhouse with plum potential that must be optimally gleaned to guarantee it a more promising future. It was also a razor-sharp initia-

tive by President Obama to counter China and other countries investing massively in infrastructure projects and depending on Africa’s oil and metal for sustenance. The summit further provided a cutting-edge opportunity for President Obama to prove to the skeptic that he cherished the interests of the continent that gave birth to his Kenyan father beyond mere expressions. Among other spheres of interests, trade and investment, which constitute the fulcrum of America’s mantra in nearly all relationships with any country, dominated proceedings at the summit. This was manifest in many ways, especially the heavy presence of the key men and women of the country’s most successful corporations at the highly structured and targeted plenary and dinners attended by them during the summit. The meeting generated N6 trillion ($37 billion) in fresh investment for the continent to bulge the curves of sectors including infrastructure, electricity, public health and security. Fittingly, African participants included frontline institutions such as the African Union Commission, African Development Bank (AfDB), United Nations Economic Commission for Africa (UNECA), among others. This elaborate representation should ensure that the lessons and benefits from the fresh vistas and opportunity windows translate to gains rather than drains going forward. Anything short of us-

ing the platform of the summit to meaningfully break the shackles of development deadlocks aimed to dilate the curves of genuine and inclusive growth would be an ominous twist and drown the whole essence of the summit, which the convener has vowed to sustain. Aside the African Growth and Opportunity Act (AGOA), an initiative first signed into law on May 18, 2000 by President George W. Bush and later amended on August 6, 2002 to expand the preferential access for imports from eligible Sub-Saharan countries, this appears to be the next happening big deal involving the United States and Africa. Theoretically, the Act had great potential with the objective to facilitate trade between America and the African continent, thereby using trade as a vehicle to decrease poverty and increase economic progress and create stronger markets in the countries in question. It also aims to reform old economies by creating new incentives for good governance, sustained business enterprises and investments, as well as the creation of jobs. Sadly, the continent is still hobbled by manifold leakages, conflict, terrorism, corruption, human rights violations, poverty and disease. This explains why President Obama’s remark that “some African nations are making impressive progress. But we see troubling restrictions on universal rights,” needs to be taken seriously. The preponderance of these maladies testifies more than

anything else that leaders of African countries failed to tap into the lush opportunities, grow on the spur of the Act and reap maximal benefits from it. In light of this, we urge the present and future African leaders to muster courage and deal decisively with these oddities to ensure that the continent becomes the world’s next big economic frontier sooner than expected. This is possible with determination and balanced follow-through. We share the position of other analysts and commentators that “the ability to achieve real and sustained prosperity in the continent will be compromised if such problems are not addressed as robustly as efforts to land lucrative business contracts.” We are befuddled that the continent which is home to six of the 10 fastest-growing economies in the world, an emerging middle class and markets that are progressively more open to foreign investment continues to underperform in making evidenceled progress and emerging the pearl of the global economy. Billions of dollars that add up to trillions of Naira in deals and projects may have been offered, and expansion of Obama’s Power Africa initiative aimed to bring electricity to 60 million houses and businesses announced, up from a goal of 20 million last year but what the leaders of the continent make out of this remains to be seen in the nearest future. All said, the continent needs to be seen to be making convincing progress. GABRIEL AKINADEWO Managing Director/Editor-in-Chief FELIX OGUEJIOFOR ABUGU Deputy Managing Director/DEIC SULEIMAN UBA GAYA Managing Editor YEMI AJAYI Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday AYODELE OJO Deputy Editor, Daily EMEKA OBASI Deputy Editor, Daily LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board GEOFFREY EKENNA News Editor TAIWO AHMED Advert Manager UCHEY OKEZIE Ag. Sales/Marketing Manager TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

Sanctity of Truth

Monday, August 18, 2014

OPINION

The agony of monogamy (1)

Tola Adeniyi

t was at the church service for the 90th birthday of the legendary Matriarch of the Awo dynasty Chief Dr Hannah Dideolu Awolowo in Ikenne that the thoughts that prompted this article began. Some well-known highly placed gentlemen and their wives were called upon to partake in the wine sipping, bread breaking ritual called Holy Communion. As soon as these respectable ladies and gentlemen, all of them past age 70, and amongst whom were renowned professors, high court judges, legal luminaries and business moguls, finished their spiritual blessing and were returning to their seats, they caught a pitiable sight in their over-flowing garb of hypocrisy. They wore forlorn mien plastered with furrowed frowned faces like someone afflicted with putrid smell of heavy dose of fart. They looked as if they were mourning a three-year-old boy mistakenly killed by his own father, or the passing of a poor woman who has just succumbed to excruciatingly painful cancer. They clung to their wives as if they were newly wedded. I temporarily forgot that I was in a holy church, the spiritual enclave of Christians. I almost laughed my head off because I knew each of the ‘holy’ ‘monogamous’ men intimately and by Jove, I knew of their second, third or fourth wives/liaisons/mistresses with whom they had sired several children. To the whole world, they

This piece is not set out to condemn or criticise monogamy. Monogamy is perfect for those who believe in its concept and can genuinely keep to it were champions of monogamy, but to their hearts and conscience, they were celebrated polygamists, or at best, serial monogamists. Pshaw! I saw pain written all over them, the agony of living a lie, the unease of hypocrisy and the shame of going through life pretending to be what they are not. This is the sort of agony a lot of the so-called monogamists go through all their lives: agony over the series of lies they sell to their wives and the double life they present to their pastors and church leaders, most of whom are equally guilty of hypocrisy and double life. This piece is not set out to condemn or criticise monogamy. Monogamy is perfect for those who believe in its concept and can genuinely keep to it. I too have been married to one lovely woman for almost 45 years and it has been like a marriage made in heaven. I happen also to be the promoter along with some friends the 35-year-old Family Club of Nigeria, which is dedicated to the uplift and celebration of marriage and family values.

The article is designed to expose the hypocrisy and pain associated with embracing false notions which are really not observed by any culture in the world, and to advise those who erroneously sentence themselves to a life of sadness and emptiness because they were deceived to believe that there is some utopia somewhere called monogamy. I am very much aware that this article will generate a lot of controversy most especially from those who live holier-than-thou life and have continued to deceive the world that they are upholders of a doctrine that is not supported by true and enlightened interpretation of any religious doctrine. The white men--I am yet to see any human being whose skin colour is like that of chalk--came and told the unfortunate lands they invaded that the cherished cultures, traditions and religions of such lands were rubbish, and instead indoctrinated them with values, which they themselves never believed in or truly practiced. We know of King Henry Vlll, and several major historical figures in ‘Christian’ Europe who had more than one wife in addition to a string of wives whom their ‘laws’ forbade them to address as wives but who nonetheless performed all the functions of wife minus name. God bless President Mitterrand who openly confessed to having two women in his life, with the one in the other house with whom he fathered an 18-year-old daughter at the time he passed on.

Of APGA defectors and Uche Ekwunife’s political rascality (2) Ifeoma Ajoka Continued from last Friday

s for our friend, Victor Afam Ogene, the fear of Princess Chinwe Nwaebili is the beginning of wisdom. Hon. Ogene is scared stiff by the likelihood of Princess Nwaebili’s rumoured ambition that places her ahead of him in the race for the ticket to the House of Representatives. Like Ekwunife, Hon Ogene knows that it is arrivederci to his hope of retaining his seat in the federal legislative chamber once his worst fear is confirmed. So, who is fooling who with their stage-managed defection which is calculated to give the illusion of chaos in APGA? Ekwunife deserves some credit for the make-belief she has created though. Evidently, she seems to have learnt a thing or two from the last fiasco of dragging Chief Obiano to court over a dubious claim. Her current game-plan appears to have been better packaged. Not many people who are shocked at the defection of these APGA members to PDP are actually aware of its farcical nature; that it was in fact engineered to present Ekwunife as not acting alone this time and to give the false impression that APGA is terminally ill. The hard

question to ask is which party in Nigeria today does not have a fair share of internal struggle and jostling for power? Just before the Osun gubernatorial elections, APC was generally seen as a tattered broom. And who can wager on the impossibility of more turbulence for Nigeria’s leading opposition party as the electoral year of 2015 draws closer? So, how can any party man or woman whose political interest stretches beyond the metaphorical “stomach infrastructure” point at internal party wrangling as a reason for defection? What the discerning observer will not miss is the fact that Governor Willie Obiano has started on a solid footing. He has seamlessly eased himself into the role his predecessor left as the bridge between the South East and the Presidency, regardless of party politics. He has even campaigned openly for President Jonathan, urging Ndi Anambra to vote for him in the 2015 Presidential Election. At the same time, Obiano appears firmly in control of the party machinery that produced his regime in the state. He commands an overwhelming loyalty of the party hierarchy who see him as a focused leader and great party man. Unfortunately, this growing perception of strength appears to rub some opposition figures the wrong way.

And although it may not yet be in the open, it is no longer hidden in some quarters that governor Obiano’s sterling performance in the last 130 days has drawn the envy of some political dinosaurs in the state who feel their noses pinched by the high praise that has trailed him. Some of these conflicted elements openly grumble about the governor’s imaginary arrogance, about being left alone in the lurch and about their political interests not being protected by the increasingly popular governor. They claim that he does not pick their phone calls directly and has left their huge egos totally unmassaged in the last three months of his governorship. For this group of people, the governor’s strategic efforts in convening a highly successful Stakeholders Forum and running a people-oriented government was simply not enough. And for that, they have assembled hackwriters and chameleonic lawmakers to cause him some headaches and nibble away from his current happiness in surpassing the expectations of Ndi Anambra. Indeed the ovation that has trailed Obiano’s performance in less than six months is enough to cause predictable anxiety in some quarters and the governor would be naïve not to have envisaged a likely attempt by shadowy opposition figures to rub his

nose in the mud a bit. Of course party politics in Anambra State is like a house of egos. How far an actor goes depends on how adept he is in managing these egos. As the new star from the political rubble of a region that once gave the country some of her most colourful political characters in history, governor Obiano must understand that so much is expected of him. His success must not be limited to the provision of quality leadership for Ndi Anambra alone but must transcend his immediate environs. He must build APGA into a formidable political ark in which all political gladiators in the old Eastern Region and even the Mid-West can find a lasting shelter. He must jettison the narrow canvass of the present leadership and take the highway of his beckoning destiny that will lead to the emergence of party structure with a capacity to maintain the ageold tripod upon which the Nigerian federation has always stood and will continue to stand to ensure fairness and equity for all. That, in my reckoning, would be the ultimate test of the Obiano mystique! Concluded • Ifeoma Ajoka (asiriajoka@gmail.com), a public analyst writes from Agulu in Anambra State

INVESTIGATION MONDAY, AUGUST 18, 2014

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Waited for death in hangman’s noose (1) They are like every other Nigerian but different. They all share something in common. They were clammed to jail and condemned to death at very young ages, and declared innocent after years of humiliating torture in the hands of those that are paid to protect them. They would have become history if only government had found the perfect executioner. Their stories as retold by JULIANA FRANCIS, will sure melt the hardest of hearts

Federal High Court, Lagos. Inset: Condemned inmate praying for rescue

latunji Olaide, a native of Abeokuta in Ogun State, is aging rapidly at 56. He looks frail and half blind with his left eye completely impaired beyond restoration. That was his gift from Kirikiri Maximum Prison, which was his abode for 24 years. But, he was lucky to have left the prison walls alive; many that found themselves in that circumstance did not live to tell their sordid stories. Olaide was arrested on May 29, 1988, on allegations of stealing and murder. His trial was brisk after long spell in detention. He was eventually convicted and condemned to death by a Lagos High Court in 1995. Even when he pleaded not guilty, no one cared to listen to his plea of

innocent. He waited for death until what appeared to be a miracle came his way through the intervention of Pro-bono lawyers, spearheaded by the Legal Defence And Assistance Project (LEDAP), which was at the time coordinated by a lawyer simple identified as Vitalis. Olaide, who was 32 at the time his travail started, would have been history today. He was also lucky that the law on death penalty did not meet him in prisons; perhaps, he would still have been waiting, or executed by now. Olaide, who narrated his sorry story to this reporter reluctantly after months of tracking said, “I was a farmer. I worked with my father because he was a renowned farmer too. I was 32 years-old

when I got involved in this mess in 1988. We used to buy cows, which we supplied to hotels and people from Ojodu Berger, an outskirt of Lagos State. My Dad had a slaughter house. On that fateful day, he sent me to purchase rams and cows, the way we used to do because Eid El-Kabir (Ile ya) festival was approaching. That trip marked a terrible turning-point in my life. “We normally travel to Niger State to do the purchase. My Dad had a customer there. He gave me N325, 000 with which to go to Niger to get some stock. I got there late and couldn’t make any purchase the same day. While relaxing with my host, some elderly men brought an unpleasant message from the Chief of the village

that all strangers in the land should be summoned to his palace. Though, the man that harboured me protested by insisting that I had just arrived, the palace messengers were not in for any of such excuses. The only mission, according to them, was to take me to the Chief,” Olaide recounted. Olaide, on getting to the Chief’s palace, met other visitors that the messengers had arrested. Soon after, Police interrupted with their arrived and ordered them to the station. Even though, his host was reluctant to release him to the Police, the Chief of the land lured him to go with the law enforcement agents instead of CO NTINUED O N PAGE 22

22 INVESTIGATION

Sanctity of Truth

Monday, August 18, 2014

Innocent Nigerians that would have become history

Williams

Olaide

Sopuruchi Obed (right) and elder brother, Daniel at Kirikiri road after Obed regained his freedom

CONTINUED FR O M PAGE 21

“unnecessary” argument with them. The next day, they were all taking to Ilorin, the Kwara State capital. “My host was so kind as to follow me to Ilorin where we spent over a week at the Police Station. By that time I had already lost all my contacts. My Daddy was expecting me back because we were not used to spending more than a week whenever we go for such trip. And since I was yet to return, my parents believed that I was not through with my transactions. But, a week later, I called a police man to assist me find out why we were still being held at their station. The revelation was confounding. The man said we were waiting for the Commissioner of Police. When the Commissioner eventually arrived, we were taken to him. He started his own interrogation and later branded us suspects after which he ordered his men to keep me and some others aside,” Olaide said. Introduction of SARS changed case Yet, the humiliation continued. The Commissioner asked his men to detain the “suspects” again. The next day, AntiRobbery Squad (SARS) stormed Ilorin from Lagos State and took them to Adeniji Adele Police Station. According to Olaide, “we were paraded on arrival on allegation that we killed someone in Lagos. I argued that I was in Niger for a transaction, but that fell on deaf ears. When we were transferred to Lagos, my Niger State host followed me. Indeed, that turned out to be his first outing outside his neigbourhood.” However, Olaide and other suspects’ sojourn to Lagos kick-started their ordeal that snowballed into another night-

Otobong Edet

I was tortured in a dark room by four policemen with different instruments like rod, cutlass, hot electric pressing iron and one thing they called hanging pot marish interrogation by their new tormentor, identified simply as Inspector Joe. Though, he recalled that Inspector Joe was a nice man. “He told the other policemen after his investigation that “these ones” were not the killers they were looking for. He made it known to them that we were arrested wrongly,” he further recalled. Incidentally, Joe’s findings did not bring respite to the suspects. Instead, instruction allegedly emanated from above that visitors coming to see the suspects must be properly monitored and scrutinised. By this time, Olaide had spent more than two weeks in Adeniji Adele police custody. He later begged Inspector Joe to help him locate his parents because he knew they would be worried sick by then. The Inspector obliged him, collected the home address and traced his parents to Ojodu Berger area of Lagos State. He told Olaide’s parents that their son and others had been arrested for murder. Instead of the news bringing relief to Olaide’s parents, it infuriated his aged father, who warned the policeman never to repeat such “nonsense” about his son.

But, Joe was not hurt by such emotional outburst. It was expected. He continued by telling the old man that one certain man from Niger State, had followed his son’s case to Lagos. It was then that “my father revealed to the policeman that the supposed Good Samaritan was his friend, my host in Niger who I had gone to meet for business dealings.” Olaide’s father wanted to go immediately with the policeman, but the Inspector refused. He explained that he would get into trouble if anyone found out that he contacted Olaide’s family. They agreed to move separately. The next day, Olaide’s parents visited the station where the Investigating Police Officer (IPO) interrogated them and pretended never to have met them before. He was later allowed to see his troubled son. After explaining all that happened, his father thanked his friend and asked him to return to his home state. The senior Olaide, thereafter, requested to see the Commissioner of police. “Olaide said, “my father asked for the money he gave to me to purchase the goods. I told him that the Police had collected all that I had on me. He later brought his lawyer to take me on bail but they refused, insisting that they were still investigating. “My father tried all he could to bring me out to no avail. The police used the opportunity of his desperation to extort money from him on several occasions. At a point, our lawyer demanded that the case should be charged to court. By then, I had already spent seven months in the cell. Some days later, some police officers came from the Inspector General of Police (IGP) and requested for me and the

others. Those at the station then told my father that there was nothing they could do anymore since the matter had been taken over by Abuja. I was tortured to the point of death at Adeniji Adele; the scar is all over me. “I was tortured in a dark room by four policemen with different instruments like rod, cutlass, hot electric pressing iron and one thing they called hanging pot. Along the line, they would be the one to tell you what to say. But, I disagreed with them. I never accepted what they told me to say. Inspector Joe queried his colleagues on why they had to torture me without his consent since he was the IPO of the case. He warned that if anything should happen to me, he would report such to the authorities concerned. Some of the bruises had disappeared but this very one, (he pointed to the protruding bone), shooting out from the skin of his shoulder blade, is still here. I was taken to the Monitoring Unit, at Milverton where they interrogated me the same way we were interrogated at Adeniji Adele,” Olaide, who fought back tears at this point, said. Suspects taken to Third Mainland Bridge for execution According to Olaide, the Assistant Inspector General of Police (AIG), in charge of Milverton Station, called to ask why he refused to agree with what the policemen had been telling him. “He said I was stubborn, promising that I was going to die in the gulag for not cooperating. In spite of the intimidation, I told him that I was no longer scared of anybody, but CO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, August 18, 2014

‘We were tortured to point of death with dreadful instruments’

CJN, Mariam Mukhtar

Comptroller of Prisons, Zakari Ibrahim

Falana

Minister of Justice, Mohammed Adoke

Visitors at the Maximum Prisons

CONTINUED FR O M PAGE 22

sequently taken to the Lagos High Court where he pleaded not guilty. After reading the charge, the case was adjourned. I thought that I would leave the court room for home. How wrong I was; I return to prison in agony.” As the trial continued, Olaide said that he noticed that the Judge was biased. Even his lawyer, according to him, also noticed it and wanted to withdraw the case from that particular court. “All the evidences brought by my lawyer were countered by the Judge. At that point, my lawyer told my father that the judge was determined to send me to jail. He advised that we withdraw the case from that court, promising to do his best. Unfortunately, he died three weeks later.” After the death of the lawyer, everything began to fall apart for Olaide. His father, who had been everything to him, suddenly became sickly, forcing Olaide to plead with him to stop dragging himself to court at every trial day. “I knew he was thinking too much and it was affecting his health. But he refused. He said that he would see to the end of the matter. He continued to come. He even testified that he sent me to purchase goods for him, but this same Judge, refused to listen or belief. He eventually died 10 days later, in 1998. When I didn’t see him again, I asked but they lied to me that he had become so weak to continue to appear in court. It was my kid brother that broke the news I never wanted to hear. The man was dead. He died for my cause. I still vividly remember the day I was convicted. Some lawyers were angry. They said it was a wrong judgment. Many of them sympathised with me. Before then,

A prisoner waiting for a miracle

God. I reminded him that I never committed the offence they accused me of. At that point he ordered his men to take me away. His boys took me to Third Mainland Bridge, which was where the Police normally carry out their killings of suspects. Normally, once they get to the bridge, they would ask everybody to come down from the van. They would now order the suspects to start walking in front. That way, they would shoot and kill the suspects. Almost the same thing happened in our case as well. When we got to the bridge that day, they stopped and ordered us to start walking in front. Suddenly a call came, miraculously. The caller asked where they were. They told him and he ordered them to return immediately with the suspects or lose their job. I can still remember that day. The men were drunk and looked happy because they were going to kill that very night. I was surprised that those were the people who were supposed to protect the lives and property of Nigerians. One of the policemen said in pigeon English, ‘na because of this man dem ask us to return everybody back, nawa ooo. Other inmates were surprised to see us because they had never seen anybody they took away, returned again, let alone alive,” he said. Thereafter, he, along with others were charged to court for murder at Apapa Magistrate Court. From there, they were moved to Ikoyi Prisons. “I was taken to Medium Prison, were I spent about nine months before our documents came out and we were taken back to Ikoyi from the Medium.” Olaide and the rest were sub-

Femi Falana had taken over my case. He wanted to make it a media issue but that didn’t work,” Olaide said. Popoola's intervention turned out a miracle of sort Olaide lost his left eye due to lack of good medical facility and proper treatment after a minor accident. While he was waiting for death and possible miracle, one of his friends, Popoola, who had completed his jail term, beckoned with a ray of hope. “Popoola and I served in the Prison, a good fellow behind the walls. When he finished his jail terms, he started helping inmates to get out of prisons. Popoola said he was doing it for God. But, because I had been duped by some lawyers, I refused to listen to him. That was why I told Popoola off when he

came with another lawyer, whom he said could help. He tried to convince me, but I obstinately refused. I told him to leave me to God. I was tired of lawyers.” As he continued to snub Popoola, one Baba Toyin intervened and persuaded Olaide and others to give listening ears to people like Popoola, who went the extra length to help them. “Popoola met me at the condemn cell. He was the only one allowed to come into death row cell because he had served there. He preached about lawyers that could help me out. He talked for a long time, until I decided to give his idea a trial. Other inmates followed me,” he recounted. Popoola’s intervention turned out a miracle of sort, eventually. He helped CO NTINUED O N PAGE 24

24 INVESTIGATION

Sanctity of Truth

Monday, August 18, 2014

I was condemned to death at 17 years of age –Williams

Popular side

Executive prison cell CONTINUED FR O M PAGE 23

Olaide regained his freedom on July 13, 2012 through his lawyer. The day and time was, indeed, quite emotional for Olaide as he had lost all hopes. He had witnessed the execution of about 45 inmates before this great miracle. He had equally witnessed inmates dropping dead out of fear and loss of hope. His first day of freedom was dramatic. Tears of joy rolled down his wrinkled cheeks even as he confessed not to have recorgnised anywhere, anymore. “A good example was Fatai. He suddenly dropped dead. Do you know how it feels to see that somebody beside you was already dead? Most times, you would see someone’s eyes wide open; you wouldn’t know that the person was dead,” Olaide recalled in tears. He noted that many inmates on death row were innocent. “Innocent inmates, who may be killed if the Federal Government continues with the planned execution of people on death row, are many. There are so many of them in condemned cells,” he further said. Incidentally, Olaide is not an isolated case. Owodo Williams, now 35, was also condemned to death at 17 years of age. He was declared innocent after over 17 years of waiting for death. Williams presently squats with his younger brother at Ijora-Badia area of Lagos State. He was arrested in 1995 but regained his freedom on December 15, 2012. Just like Olaide, Williams was reluctant to talk about life on death row. He told this reporter in a subdued voice that “I’m just trying to forget that chapter of my life.” After much persuasion, Williams opened up, recalling how he was arrested while playing the game of soccer with other friends in their neighbourhood at Layinka area of Ajegunle, also in Lagos State before a fight broke out between two friends. He said: “It was a fight among friends. We were playing football. My friend, Tony, had a problem with another young boy called Daniel Obi. While we were on the field playing, they were busy fighting. They fought until they got into the field, forcing us to stop playing. We had to intervene at

that point. Obi was bigger in size. Tony grabbed a bottle and broke it. Obi attempted to wrest the bottle from him, but got cut in the process. We tried to take him to hospital, but he refused. He said that he wanted to retaliate. I left them and went home.” The following morning, Williams received some unusual visitors. They turned out to be policemen. When they asked him for the whereabouts of Tony, he innocently directed them to Agungu Street, where Tony stayed with his parents. “When they couldn’t get Tony, they said I should come with them to Ajeromi Police Station, to give statement on what happened on the field of play the previous day. At the station, I was detained. We were about 17 boys that were playing football on that day. They arrested us all and later granted some bail. “The Police later granted us bail too, but insisted that we must report back to the station on a daily basis. There was a day I reported as directed and I was ordered into the cell. Others that reported that reported at the station that day were also clammed into detention cell. Later, we were transferred to the State Criminal Investigations Department (SCID), Panti, Yaba and, thereafter, charged for murder. It was in detention that we heard that Obi didn’t make it. He had died. Five of us were taken to Ikoyi prison on February 21, 1995. It was like someone wrote a petition against us,” he recalled. Tortured and ordered to confess crime not committed Thereafter, the drama started. According to Williams, “we were tortured at SCID and repeatedly ordered by the police to confess that we were part of those that killed Obi. They specifically asked me to confess as a condition for regaining my freedom. They wanted me to say I killed the boy. I was just in SS3 at the time. Tony was accused of trying to collect Obi’s property. The beaten he received from the station, paralyzed him. It was indescribable. “When I entered the torture room, I saw him, unconscious. Some policemen there were fighting over money recovered from the poor boy. It’s like they had a bet. It was like a gamble to them. When

Condemned prisoners

they asked me what I knew about the case, I told them all that I knew but they didn’t believe me. One of the policemen slammed the butt of his rifle on my head. My head got broken and I bleed as if I was going to die. They asked me if Tony was my friend, I said yes. They gave me a statement to sign. I noticed that it was not the statement I had earlier written because I could read and write but I was forced to follow their wish,” Williams said. He did not stop there. He said, “going to prison appears to be my destiny; It was my path. If I think it outside of that belief, I would get depressed. If it’s not my destiny, all that happened to me, wouldn’t have happened to me. I wouldn’t have gone to prison. “Let me tell you the truth, I was not supposed to go to that field that day to play football. On that fateful day, I was supposed to be in my uncle’s saloon at Layinka Street. My uncle went out and left the saloon in my charge. I left the shop for other people to mind. I went out. Even as I walked to the football field, something kept telling me that I shouldn’t have left the saloon, that my uncle would beat me. I went there out of stubbornness and got into trouble. Sometimes in life, you don’t have to blame yourself for certain things that happened to you. You just have to accept it as fate,” he said. Williams, nevertheless, was comical in his narration. For instance, he recalled with how he became an acquaintance of

the legendary General Overseer of the Christian Praying Assembly, Chukwuemeka Ezeugo, popularly known as Reverend King in condemned cell. “Do you know Reverend King?” he asked. “We were all on death row. Whenever someone among us got injured and another said sorry to the person, King will caution the person not to say sorry to the person. He told us that in such situations, we should learn to thank God. Asked why? He would explain that God may have used such to divert the death of such a person. “Whenever I reflected on such wise counsel, I thanked God. What if I had died? So many of my friends had died; some are doing well, others not so well. I’m even better than some of them at present in spite of what I had been through in life. So, I strongly believe that what I went through was my destiny. If I hadn’t gone to prison, who knows, I may have died by now. Or, maybe, something more terrible might have happened to me. I don’t regret going to prison, but I regret staying in prison for too long. I am pained; pained because age is not on my side any more. I find it difficult to secure a good job now. If I had regained my freedom on time, say five or seven years ago, it would have been advantage of sort for me,” Williams said. He, nonetheless, regretted that Edo State had rushed to validate the freshly passed death law in the country by killing those he described as innocent Nigerians on death row.

BUSINESS Sanctity of Truth

Monday, August 18, 2014

What's news Dangote to replicate cement success in rice production African richest man and President, Dangote Group, Aliko Dangote, has reeled out reasons why he is going full blast into rice production, saying, among other things, that he is doing so to replicate his achievement in cement and sugar.

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Ebola threatens West African economy The raging Ebola virus outbreak in the West African sub-region has been described as a threat to the economies of Guinea, Liberia and Sierra Leone as companies from Sime Darby Bhd to ArcelorMittal have scaled back operations.

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Ex-militants’ bickering over N243bn amnesty funds degenerates The bickering among ex-militants over the amnesty funds has continued to degenerate.

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Why CBN reintroduced N65 ATM charge Ahead of the September 1, 2014 kick-off date for the re-introduction of the inter-bank Automatic Teller Machines (ATM) transactions fees of N65, the Bankers Committee at the weekend said the charges were to be paid by banks on behalf of their customers.

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BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) Simeon Ogoegbulem, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) SIAKA MOMOH, Asst. Editor (Industry/Agric) Godson ikoro , Asst. Editor (Money Market) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

Higher capital’ll 25 BUSINESS | BRANDS & ADVERTISING strengthen operators’

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Sugar: FG to provide N2bn support fund for investors ENCOURAGEMENT A single digit interest rate intervention fund for sugar production coming Siaka Momoh

he Federal Government has concluded plans to provide N2 billion Agricultural and Infrastructure Support Fund for investors in the sugar industry. Minister of Industry, Trade and Investment, Mr Olusegun Aganga, disclosed this during the quarterly meeting with the Directors General and chief executive officers of agencies and parastatals under the ministry in Abuja. Aganga noted that the intervention fund, which will be disbursed at a single digit interest rate, would serve as cheap and affordable capital for investors who are investing in the Backward Integration Programme of the Federal Government in the sugar sector. He said: “The National Sugar Development Council, a parastatal under my ministry, is providing N1 billion from the Sugar

L-R: Kogi State Deputy Governor, Yomi Awoniyi; Regional Director, Abuja/North Central, Skye Bank Plc, Mr Gbaye Adewuyi; Kogi State Governor, Captain Idris Wada; and the state's Commissioner of Finance, Mr Zakari Alfa during the submission of the report of the biometric exercise of civil servants in the state to the governor in Lokoja at the weekend.

Levy while the Bank of Agriculture will provide a matching fund of additional N1 billion as intervention fund to assist investors and farmers who are investing in the sugar-cane to sugar programme, which is an integral part of the Backward Integration Programme in the sugar sector. “The fund, which will be disbursed at a single digit interest

rate, is part of our on going efforts towards providing an enabling environment for Nigerians to take advantage of the Federal Government’s sector specific policies that are aimed at industrialising our country and create jobs for our people.” The minister added that the Nigerian Sugar Master Plan, which provides the roadmap for 100 per cent local production of

Etisalat to spend over $300m on service upgrade COMMUNICATION Nigerians to enjoy enhanced telephone network as more fund is being committed to improving facilities Sunday Ojeme

ne of the frontline telecommunications companies in Nigeria, Etisalat, has declared its willingness to spend

over $300 million on network upgrade as part of measures to further enhance customer satisfaction. Chief Executive Officer of the company, Mr Mattew Wilsher, who disclosed this in Lagos, also said that the need to provide quality service prompted the company to take deep interest in upgrading its facilities wherever it operates. He noted that in the last six years that Etisalat joined the GSM market in Nigeria, it had continually taken steps to locate areas where its services

have become weaker than its competitors and subsequently rectified it in order to retain the top spot. Wilsher who said that he would be drawing experience from other countries where he had worked in the past to drive Etisalat to profitability, pointed out that the management was focused on capital efficiency, adding that he was confident about the company’s future. The decision to sell 2,136 of Etisalat’s towers to IHS, Wilsher CONTINUED ON PAGE 26

sugar, had within one year of its implementation, raised the country’s profile by attracting about $3 billion pipeline investments into the sector. “We have done the due diligence for three new sites for sugar plantations and within the next three months, we shall be commissioning a bio-factory in Zaria and another one in University of Ilorin. The idea is that about one million good quality seedlings will come out from these factories,” Aganga said. Giving an overview of the activities and performance of the ministry, Aganga said that it had exceeded its expectations in terms of formulation and implementation of policies that have impacted positively on the country’s economy. He said: “We have developed and begun the implementation of the Nigerian Industrial Revolution Plan which was launched by President Goodluck Jonathan. The president has also inaugurated the Presidential Advisory Council on NIRP and they have been meeting to address all the bottlenecks that limit the productivity and competitiveness of our industrial sector. Their recommendations will soon be submitted to the president for necessary action."

WOLE SHADARE, Aviation Editor DELE ALAO, Brands/Marketing Editor CHRIS UGWU, Capital Market Editor Abdulwahab Isa, Finance Editor Chuks Onuanyin, Energy Nnamdi Amadi, Reporter JOHNSON ADEBAYO, Asst. Production Editor

Rates Dashboard INFLATION RATE June 2014................................8.2% May 2014....................................8% April 2014.................................7.9%

LENDING RATE

EXCHANGE RATE

(Parellel As at Aug 15)

USD . . . . . . . . . . . . . . . . . . N162.00 InterBank Rate . . . . . . . . . . 11.57% Pounds . . . . . . . . . . . . . . . N262.78 Prime Lending Rate. . . . . 16.93% Euro . . . . . . . . . . . . . . . . . . N209.50 Maximum Lending Rate..25.83% • Foreign Reserves – $39.61bn as at 15/08/2014

EXCHANGE RATE

(Official As at Aug 15)

USD . . . . . . . . . . . . . . . . . . . N155.73 Pounds . . . . . . . . . . . . . . . N259.94 Euro . . . . . . . . . . . . . . . . . . N208.51 Source: CBN

26 business | NEWS INVESTMENT Aliko Dangote explains why he is investing big in rice. Siaka Momoh

frican richest man and President, Dangote Group, Aliko Dangote, has reeled out reasons why he is going full blast into rice production, saying, among other things, he is doing so to replicate his achievement in cement and sugar. Said Dangote in Abuja, on the heels of an MoU he signed with the Federal Ministry of Agriculture and Rural Development recently: “I have seen it happen before in other sectors and can assure you that the rice thing will become a very, very big story. There are quite a few things that we need to try first and see that they work. Number one is in the non-food sector, so that people will know that, sometimes when you say you are going to eliminate the importation of food items, majority of people will believe that this is not possible.” He explained: “In 2002, there was a policy that Nigeria will start importing cement. The total production as at December 2003 to January 2004 was 1.8 million tons. By ten years, when the policy was in place, we were to make sure that cement was self-sufficient here. Today, the total production of the country is 28 million tons. We have moved from 1.8 million tons to 28 million tons. This August alone, we are adding nine million tons. We will get to 37 million tons all within ten years. “We are able to also demonstrate and remove the fear that agriculture is a poor man's business, that there is quite a lot of money in it. I used to tell a lot of people that, eight years ago, when we used to import sugar, we were importing sugar at about $143 into Nigeria. $143 will not really allow you to make money at all. But, last year and a half or so alone, we have imported sugar at a thousand dollars a ton or so. So can you imagine? Our people

Sanctity of Truth

Monday, August 18, 2014

Dangote to replicate cement success in rice production

are not looking at these issues because people are not projecting what is going on.” He explained that doing farming, doing rice, was by far much easier and also cheaper than cement, because, "for cement, to even build a factory, to go through the design, you need four years to be able to deliver, that is if you are going to deliver at all; but, you see, the impact on the society, there is no comparison." Dangote further explained that apart from making Nigeria self-sufficient in rice, the project will also ensure that Nigeria exports rice because “we have no reason not to export rice. The real reason why we want to move into agriculture is because the perception is that there is no money in agriculture. That is the perception also in the industry. People say ‘No, I am not going to try. There are so many people before, there are several of them that have tried and failed. “Our decision will also reduce a lot of tension. It will also reduce quite a lot of this unemployment, because there are a lot of people that have finished universities and don’t have employment. But agriculture is a chain of several other disciplines of jobs. We will be able to create jobs, and even if you don't want to go and work, you could become a trader. The rice is there. It will become cheaper. It will conserve our foreign exchange.” Dangote also noted that there is the need to really support government because “government is not in business. Their real business is to facilitate. Now, they have facilitated." We the entrepreneurs have to take the risk. Anything you do in life is a risk. This one is a calculated risk. I think, for us as Dangote, it will help to bring in other people who have been shying away.

L-R: Minister for Trade and Investment, Dr. Olusegun Aganga; Managing Director, Procter and Gamble Nigeria, Mr George Nassar; and Global Government Relations Associate Director for sub-Saharan Africa, P&G ,Mrs Temitope Iluyemi, during the Nigerian President's Dinner at the annual US-Africa Leaders’ Summit in Washington DC.

Ebola threatens West African economy ECOWAS Scourge of the dreadful virus is slowing down business operations in affected regions. Siaka Momoh

he raging Ebola virus outbreak in the West African sub-region has been described as threat to the economies of Guinea, Liberia and Sierra Leone as companies from Sime Darby Bhd to ArcelorMittal have scaled back operations. Bloomberg has, however, confirmed that the disease will inflict economic damage on these West African coun-

Etisalat to spend over $300m on service upgrade C O N T I N U E D F R O M PA G E 2 5

said, was borne out of the need to focus purely on activities bordering on customer satisfaction instead of being diverted by infrastructure maintenance, adding that it was better to keep and concentrate on areas the company had dominance. He said that the tower sale, which transaction would be completed later this year, would have gulped over a $100 million from IHS on the equipment. The transaction is such that at the conclusion of the deal, IHS will own and manage over 6,540 towers in Nigeria, all of which will be managed by the most advanced Network Operation Centre in the country, providing customers with market and industry leading levels of passive network uptime. IHS will market services on the towers, promoting tower sharing and collocation to help

drive network improvements, better service to subscribers and economic growth. Founded in 2001, IHS Towers is Africa’s leading independent mobile telecoms infrastructure provider headquartered in Nigeria. It provides services across the full tower value chain and managed services, deployment and site ownership and has operations in Nigeria, Cameroon, Côte d’Ivoire, Zambia, and Rwanda. It currently manages over 10,000 towers in Africa, prior to this transaction. On the financial performance in the last one year, Wilsher noted that the mobile phone service provider performed fairly well by increasing its earnings from $200 million in 2013 to over $300 million within the same period of 2014. Etisalat has invested about $1bn in network upgrades, infrastructure rollout and capac-

ity building, among others, in the last five years. The company currently has over 19 million subscribers and will invest more funds in the country as it makes plans to double the number of subscribers on the network. The firm is keen on improving on the current quality of the network and is also on the verge of completing a 2,800-kilometre back haul network infrastructure. Etisalat currently has 4,500 base transceiver stations spread across the country. Meanwhile, the chief executive officer has commended the Nigerian Communications Commission (NCC) over its commitment towards customer satisfaction by ensuring that telecoms companies deploy everything at their disposal in ensuring that the customer comes first in their business dealings.

tries. According to the report, commercial and transport disruptions that will probably last for at least the next month, along with increased health expenditure, may put pressure on budgets, jeopardising the nations’ economic growth, Matt Robinson, a senior credit officer at Moody’s Investors Service, said in a report. Sime Darby, the world’s largest listed palm oil producer, said it was slowing output in Liberia. ArcelorMittal, the world’s largest steel producer, said the spread of the virus had delayed expansion plans at its Liberia plant. Sifca Group, the Ivory Coast-based agribusiness, said it halted rubber exports from Liberia. MTN Group Ltd., the largest wireless carrier in subSaharan Africa, said five expatriate workers left Liberia as a precautionary measure. “Ebola threatens to have significant economic and fiscal ramifications for a number of sovereigns in the region,” Robinson said. “The outbreak risks having a direct financial effect on government budgets via increased health expenditures that could be significant,” he added. New Telegraph reported, quoting Reuters, that Barry Callebaut, the world’s biggest chocolate maker, confirmed on Monday that it had cancelled an annual meeting of managers that was due to take place in Ivory Coast because of concern over the spread of the Ebola virus. A total of 2.9 million metric tonnes of cocoa is produced in the region by four countries. At cocoa daily price of $3285.13 (as at August 11, 2014) per metric tonne, this gives a total annual cocoa production worth over $9.6 trillion. Ivory Coast is number one among the four cocoa producing countries and number one

producer of cocoa in the world, producing 1.6 million metric tonnes of cocoa. The others are Ghana, Nigeria and Cameroon producing 700,000, 400,000 and 272000 metric tonnes respectively. “There is a possibility that Barry Callebaut's decision may lead to a bandwagon effect that will see other foreign cocoa buyers following sooth,” it was reported. The outbreak that has killed over 1,000 people, the worst since the virus was first identified in 1976, has spread to Nigeria, Africa’s most populous nation of about 170 million. There is no cure for the disease, which is normally treated by keeping patients hydrated, replacing lost blood and using anti-biotics to fight opportunistic infections. The spread of the disease may have “an indirect effect arising from an Ebola-induced economic slowdown on government revenue generation in a region where budgets are already hindered by low tax collection,” Robinson said. The economies of Sierra Leone, Guinea and Liberia may lose one percentage point of growth because of the disease, Aliko Dangote, Africa’s richest man, said in a Bloomberg TV interview last week. Reduced agricultural production and trade may shave off as much as two percentage points of growth in those three countries, New York-based Teneo Intelligence said on Wednesday. Sierra Leone’s Ministry of Finance said on Wednesday that it will probably miss its growth target of 14 per cent this year and inflation is already quickening as trade slows. Guinea is set to expand about 4.5 per cent and Liberia about 7 per cent, according to the International Monetary Fund.

YOUTH CULTURE

Even after the late Patrick Sawyer imported the Ebola pestilence into Lagos, the night life of the city has not been affected by panic and fear of the contagion.

“I was in Abuja for ten years but I couldn’t settle there because I don’t know the history. But that of Lagos, I know like the back of my hands.”

Photos posted by some young rsident of the city on Instagram last week

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LIFE IN THIS CITY

MY CITY, MY WORLD (OGUNLEWE)

The Mega City

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...for the love of Lagos

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Muritala Ayinla

overnor Babatunde Fashola of Lagos State has renewed his appeal to residents to stop indiscriminate defecation in the state, saying unregulated public defecation and urination could lead to spread of the dreaded Ebola Virus Diseases. The Governor, who also cautioned residents against burying their loved one at homes, said the recent developments required everyone to be wary of health implications of their practices.

Ebola: Time to stop open defecation – Fashola Speaking at a meeting with the Local Government Chairmen and health workers in the various councils in the state, Fashola said for the state to overcome the outbreak of Ebola Virus Disease (EVD), everybody must play his/her role diligently, adding that Lagosians must also refrain from un-

safe and unhealthy practices. He said:” This not a disease that you transmit through the air. So, it is time to be cautious, it is time to be concerned but it is not time to panic. Our capacity is improving everyday and by the grace of God we shall defeat this problem. It is not by prayer alone but by hard work.

The Governor said that his administration would henceforth clamp down on open defecation in order to contain the spread of EVD, since urine and human faeces are sources of contracting the deadly virus, calling on the council chairmen and health workers to intensify campaign against EVD.

CHANGING LANDSCAPE OF LAGOS

“The diseases can be transmitted by body fluid, urine and human faeces and blood. This is the time to clamp down on severely on public urination and public defecation across all communities in Lagos. It must stop now! Before enforcement CONTINUED ON PAGE 28

Ikeja Zone Customs seizes smuggled goods worth N107m in 28 days he Customs Federal T(F.O.U.), Operations Unit Zone `A’ Ikeja ,

says it intercepted 336 units of smuggled goods valued at N107 million between July 13 and Aug. 9. In a statement issued in Lagos, Mr Usman Turaki, Acting Controller of the unit, said 19 suspects were being interrogated in connection with the seizures. Turaki said that the seized goods had a payable duty of N42.94 million with a duty paid value of N150.45 million. He advised smugglers to channel their resources to more meaningful ventures instead

of smuggling. According to him, the seizures include seven trucks of jumbo bales of textile materials impounded from a warehouse in Oshodi. Turaki said that on July 21, the Oyo Patrol Team of the unit intercepted two trucks loaded with 1,737 bags of smuggled rice on BasiIseyin Road. He said the Duty Payable Value (DPV) of the rice was N11.10 million, adding that over 2,000 cartoons of smuggled foreign poultry products were also intercepted on the Lagos- Abeokuta Expressway. CONTINUED ON PAGE 28

Photo: suleiman hussaini

‘Why shop owners in Tejuosho market won’t face difficulty paying’

FACT FILE Project: Victoria Island Tower Client: Drawcok Estate Ltd. Consultants: ACCL, IAA, Associates WSP Main Contractor: Julius Berger Location: Akin Adesola Street, Victoria

Island

IN NUMBERS 22% the percentage of the land area of Lagos State that are lagoons and creeks

3,577

is square kilometres, which is the land area of Lagos State

1,185

in square kilometres, which is the land area of Epe Local Government

Muritala Ayinla years after the Swaseven Tejuosho Market gutted by fire, Governor, Mr. Babatunde Fashola (SAN) last Friday officially reopened the Phase One of the shopping complex, saying adequate measures had been taken to ensure

the market is accessible for residents. The old Tejuosho Market was shut down on expert advice by the State Government following the December 17, 2007 fire that destroyed proper ties wor th several millions of CONTINUED ON PAGE 28

LASG trains 800 health workers on Ebola prevention Muritala Ayinla

s parts of measures to contain the rampaging deadly Ebola Virus Disease in the state, the Lagos State Government has trained

about 800 health workers and volunteers in all the 57 Local Government and Local Council Development Areas on preventive measures. The government, which also warned residents to stop

eating bush meat and desist from discharging fecal effluent into the drain or adjoining grounds, said it would not hesitate to sanction anyone who flouts environmental laws in the state.

The state Commissioner for the Environment, Mr Tunji Bello who made the disclosure at a sensitisation campaign tagged: “Train the CONTINUED ON PAGE 28

28 NEWS /MEGA CITY

Customs seizes smuggled goods CO NTINUED FROM PAG E 27

The controller said that the unit had identified some flashpoints and had mounted aggressive patrol activities to ensure that all flanks were blocked. “I am advising smugglers in the South West to relocate or else they would face the full wrath of the law,” he said. Turaki said that genuine importers or their representatives would always enjoy the support of the unit to facilitate legitimate trade in line with global best practices.

‘Stop open defecation in Lagos’ CONTINUED FRO M PAG E 27

, we have to strengthen advocacy, lets everybody police each other.” The Governor, who also justified enactment of the cremation law by his administration, said Nigerians can now see the beauty of the law, even though deadly diseases like Ebola was never envisaged. “When we passed the cremation Law there was a lot criticisms but even though it has come to be very useful. This was not what we were planning for before we made the law. I clarified the issue a number of times that nobody can cremate your loved ones by force. It is optional. At a point we were also getting sensitisation from members of our community”. Noting that dead victims of EVD are more dangerous than those living, Fashola said burying corpses at home is unhealthy, urging residents to refrain from the practice, especially with the outbreak of EVD in the country. “This is not the time for burial at home, it is a big risk and we must refrain form that practice. I have always said that is unhealthy because all of the body tissues eventually goes into the underground water which use as our boreholes. So it is a practice that is compelling for us now to stop.

FEATURES /MEGA CITY

Monday, August 18, 2014

Lagos trains health workers CONTINUED FROM PAGE 27

trainers’ Educative programme”, also said this is the time for residents to maintain proper hygiene so as to remain healthy and not endanger their neighbour’s lives through unhealthy practices. Noting that Ebola Virus Disease spread quickly in a society where unsafe and unhealthy practises hold sway, Bello was optimistic that Lagos and indeed Nigeria would contain and eradicate the scourge of Ebola virus. He appealed to the residents not to attempt hiding persons with suspected symptoms of Ebola disease as government has the right to quarantine or isolate such persons so as to prevent the disease from spreading. Speaking on the theme of the training, entitled “Cre-

ating an Army of Advocacy to Curb the Spread of Ebola Virus through Effective Enlightenment at the Grassroots”, Bello insisted that government would henceforth, sanction anyone who engages in open defecation and urinations, saying such practices could further lead to the spread of the diseases. Informing the large gathering that government would take public enlightenment campaign to the market and other public places in the state, Bello also warned all residents in the state to maintain proper hygiene and refrain from improper waste disposal. He said: “Some of the preventive steps we need to take individuals and residents of the state include: imbibe the culture of good hand washing with soap and water , use hand sanitizer; ensure strict personal

hygiene; ensure strict personal hygiene; ensure proper sanitation and cleanliness of sanitary facilities; don’t urinate, or defecate in open places, dispose your solid waste rightly.” “This message to Lagosians is that we should henceforth embrace strict personal hygiene not only for ourselves, we should extend the message further to the grassroots, other members of the public, our families, our friends and colleagues. If they are safe, we are safe; if they are not, we are not”. Tunji Bello emphasized that “a right environment can write off Ebola”, adding that “the earth, our environment is ours, Ebola is an alien and we must eject it out of our land, through clean and hygienic ways of life”. He pointed out that as Lagos is home to all with a population of over 21 mil-

lion inhabitants constituted by diverse tribes across the country, the State Government needs the support of the health workers who are professionally trained and Scientific Officers to act as health and environmental police to assist in maintaining hygienic environmental standard across the State. Speakers at the event include: Dr.Enigbonkan Olubunmi, an Epidemiologist and a Director in the Lagos State Ministry of Health; Barrister Jonanthan Godonu Ogun, Rtd. Head, Environmental Health Unit, Office of Environmental Services, Lagos State Ministry of the Environment; Mr.Toyin Awosika, Director of Public Enlightenment Department, Lagos State Ministry of Information and Strategy, and Dr. Abiodun Denloye, a lecturer at the Department of Zoology, Lagos State University, Ojo.

‘Why shop owners in Tejuosho market won’t face difficulty paying’ CO N TI N U ED F RO M PAGE 2 7

Naira. The state government thereafter decided to rebuild it in phases into a major Shopping Complex. Speaking on the method of payment for the shops during commissioning ceremony of the redeveloped market, Fashola explained that the shops are offered to prospective traders on Owner-Occupier basis whereby the owner-occupiers would pay for their shops gradually and over-

time. The Governor added that it would take them eight years of mortgage payment to fully pay for their shops, explaining that shops and houses are not things that could be bought in one day like other commodities. His words: “If you see the quality of what has been provided inside here for you, that is the quality of what we expected of you; not to be trading by the road sides. You deserve

better and that is what we did here. “What is good costs money. What we have decided to do is to make it easier and convenient for you to pay for it gradually so that you can do your business and put your profit back to own what you have”, He emphasised that without the provision of the complex, the traders would have resorted to all sorts of make-shift shops which would have ended up

in a disorganized market. On the available facilities in the new complex, Fashola said his administration has gone ahead to increase the number of lock-up shops from 1,484 before the fire incident to 2,640 in the new complex adding that instead of the illegal attachments which were used as key-clamps in the old market, Government has provided 1,251 key-clamps almost double the illegal attachments built at the old car-park.

Ilubirin: 1,254 flats project back on course Oluwatosin Omoniyi ork is now progressing at steady pace on the Ilubirin Foreshore W Housing Estate project, months after

the clash between the Lagos State government and the Federal government over ownership of the land, the Commissioner for Housing, Mr. Bosun Jeje has indicated. Located along the Osborne shore water front area in Ikoyi, the Ilubirin estate is to be made up of two and three bed room apartments of a total of 1, 254 flats. The flats will in in blocks which will all have eight floors. The project is owned by the Lagos State Government through the Ministry of Housing, and it is expected to be part of the Lagos State Homes Housing Scheme. Cyrou Turnkey Builders, the contractors for the project, had since commenced work, and pledged a completion period of 15 months. In April, the Lagos State governor, Mr. Babatunde Fashola had raised alarm that the Minister of State for Defence, Senator Musiliu Obanikoro visited Ilubirin Housing Estate project site, in company of soldiers, and ordered immediate halt of any form of

Ongoing construction at Ilubirin Estate

construction on site. Obanikoro allegedly claimed the land belonged to the Federal government. According to Fashola, Ilubirin site in question has been investigated by the State government, adding that “Our respected first Federal Com-

missioner of Works during General Yakubu Gowon’s regime, Alhaji Femi Okunnu had informed the state that the place belongs to Lagos and not federal government.” The Federal government had since then seem to have backed down on

its claim to ownership of the land reclaimed from the lagoon. In a chat with The MegaCity at the weekend, the Commissioner for Housing said: “Ilubirin is part of our developmental effort to address housing deficit in Lagos state. We are constructing 1,254 units at the site with a multiplier effect of job creation. “Since the misadventure of the Distinguished Senator to intimidate us at the site and spontaneous reaction of people like you, there has been respite. The 1st phase is on-going and in matters of months we shall be celebrating that aspect. “The most important thing is that the contractor is very diligent and share in our dream of early completion.” Before the reclamation, Ilubirin was a community that existed on Lagos Island for years. Majority of its dwellers were women. Behind this community was the popular ‘Isale-Eko.’ This reclaimed land, it was learnt was once a floating community occupied by mostly women who built their make-shift houses on the lagoon. According to Tunde Osomo, a busiCONTINUED ON PAGE29

LIFE / IN THE CITY 29

Monday, August 18, 2014

Even with Ebola, Lagos still ‘jumping’ at night Gbenga Adeoye

or those who are not accustomed to the unique lifestyle of Lagosians, it often plays out like one of the tales by moonlight. From about 11pm, parts of the city known for one form of night life or the other begin to wake up. Market men and women, ‘pure water’ in sachet sellers, food sellers, Mei Shai as hot tea sellers who are usually Hausa are popularly called and even shoe shiners begin to converge under government provided over-head bridges, relaxation gardens and even highway sidewalks. And like a bolt from the blue, noise begins to rent the air. Music from giant jukeboxes blare from different directions. Bus conductors and drivers, like psychiatric patients yell their destinations. Vehicle blare horns in trying to out-manoeuvre one another. From Badagry to Egbeda, Lagos Island to Somolu, Yaba to Ketu down to Ikorodu, the story is the same. These spots where amorous nocturnal activities are commonplace need no introduction. These are places where fagged out workers, single parents, the bothered and the deprived converge from eventide to douse tension. Ojuelegba tops these red zones where night life has come to stay. At Ojuelegba, people and vehicles join together in producing the ever present noise. It is a place where the safety of your eardrums cannot be easily guaranteed. At Ojuelegba, some few days back, after Patrick Sawyer had transported the Ebola pestilence from Liberia to Lagos, it was 12 midnight, a moony night and the area was coming awake as usual. Hundreds of people, mostly ladies, converged on the sides leading to the adjourning roads of Lawanson, Palmgroove, Yaba and Surulere. Under the bridge were few parked buses. The cars were arriving from different points to drop trendy ladies and men of different status who have just freshened up for the night’s fun. These skimpily clad girls in body hugging clothes and of different shapes lined the road stretching to Ayilara. Music was blaring from all directions, but mostly from the array of beer and pepper soup joints that dotted the way to Lawanson. Making way through the tempting faces to that road that stretched to Ayilara through Lawanson Road, a turn to the right at the first junction brings you to one of the most popular joints in the zone christened “Coconut”. The outer space accommodates the bar while the main building harbours some rooms designed for “short time” lodging for fun seekers who may want to have what is called “quickies” with their catches for the night. The bar was filled with men and women. Most men had picked their choice of girls for the day’s fun and CONTINUED FROM PAGE 28

ness tycoon who stays on the Island, Ilubirin had existed for decades, and was occupied by women who hailed from several places, including Ilaje Ese-Odo in Ondo State, Badagry, BeninRepublic and republic of Togo. “They were mostly fisher women, they used to supply us fresh fish and other sea foods on the Island,” he said. He continued that some of the women also brewed Ogogoro, otherwise called local gin, with fried fish and the women usually take the fish to Ebute-Ero market, near the palace of Oba of Lagos for sale. “it was an interesting quiet life with those people around. They were entirely in their world and contended with

were discussing or probably ‘bargaining’, on few bottles of beer while a chunk of others were yet to make up their minds on the array of options opened to them. To be honest, it required a lot of patience and tact to decide on a pick in such environment. Everything that makes a social gathering swing was present. Drinks, women of different ages and shapes, epicurean or local food. Name it! And aided by the aesthetics provided by the colourful lightening of the environment, all the girls on sight that night looked temptingly attractive. Most of the free ones were on their feet wriggling their waists sensuously to the cool music of Lionel Richie “All Night Long” coming out from a giant loud speaker displayed outside. The rooms at the back were for those who wished to go on ‘short time’ with their catches. “You get a room for a N1,000 per hour here and the girls charge between N2000 and N5,000 on short time. It depends on the class of girl you pick” said Wole Adesina, an electronics engineer who happened to be one of the regulars. When this reporter sought to find out how people who frequent this joint were feeling even with the presence of the Ebola disease in Nigeria, the lights went off before Wole could mutter a word. With interruption of electricity, the atmosphere became stifling. The air was hot and full of smoke. The lamp, which had just been lit before the generating plant could be put on, glowed dimly. From where the reporter sat at the entrance, it was possible to see the beer counter at the far end. And between him and the counter were a sea of faces, sweating and animated – like masks seen vaguely through curling tobacco smoke. Finding it extremely unbearable to cope with the situation, our correspondent found his way out and a turn to the right brought him to three gorgeously dressed girls, smoking and chatting happily. Amazed at the flow of the Queen’s English, the reporter tarried to eavesdrop on their conversation. And by this, he got to know that many of the girls patronizing Ojuelegba are students of higher institutions of learning in Lagos and environs. Some of them are also housewives, corporate workers in government and private offices who are single parents and spinsters alike. Within a twinkling of an eye, a white Infinity Jeep accommodating three men zoomed in from the dark with its light illuminating the dingy zone to expose the irresistible endowments of the three ladies. With a shriek, the jeep came to an abrupt stop beside the ladies. A lanky man in his midforties jumped out of the vehicle and approached the girls. They talked in low tones for some time. Then, the man

Ojuelegba road during the day

opened the rear door for the lucky girls. And stylishly, like Hollywood actresses, they sauntered in, while the equally lucky fun-seekers zoomed back into the night – A night of promise for them all. Talk of Ojuelegba, you are also talking of one of the hottest prostitution joints in Lagos, where amorous girls ooze hundred per cent sexuality, talk it and live it, with only one language as medium of communication – Money. Their patrons cut across segments of the society, and include the educated and the illiterates, with the educated easily distinguished by their composure and at times, the corporate mode of dressing and the impeccable use of English language. “Ojuelegba has always been bubbling for a very long time,” said another regular customer who would not want his name mentioned. Asked about the activities of hoodlums in a place that harbours such a huge number of perceived rouges, his eyes lit up. He raised his cigarette up and said: “This is the safest zone in Lagos. You see, for the fact that live is here 24 hours, hoodlums steer clear.” Aside the fact that there used to be regular parade of the Lagos city by men of the Nigeria Police, it is observed that all the joints and clubs that operate in the night have their own in-built security. Hefty bouncers dominate these zones to ensure that peace and tranquillity reign. For instance, if any fun seekers is seen to be spending too much time on his drink, the private security men would ask questions and in some cases if they are not satisfied with the response given, they send such persons out. They also ensure that every activity is monitored to ensure safety of lives and property. These zones also provide means of

livelihood for some young chaps who lost their jobs to the lingering biting economy. Hiding under the cover of night, this category of Lagosians drive out their cars to popular spots where they pick passengers to and fro, o keep body and soul intact. Lekan Abegunde, a one-time staff of Oceanic Bank told our correspondent that he had been living on the route since he was abruptly sacked in the merger that consumed his bank. “Nocturnal driving is a juicy business; I will not deceive you, my brother. Weather is cool, engine is not over-laboured, traffic is damn free and you make your money. Some of these ladies can pay anything to get to their destinations particularly when it is getting g too late and after business in the early hours. I spend the whole day relaxing and in the night, by 10:00pm, I set out for business and come back home between 3 and 5am every day,” he declared. Asked if he still aspired to go into his banking job, Lekan have these to say: “Very well. But this can only be possible through this kind of job. For now I am paying my rent and feeding comfortably. I also have the whole day to look for job when I feel like doing so,” he said. Talking about other benefits attached to nocturnal driving, Lekan said: “some of the girls are damn crazy, there have been occasions when I will pick some in the morning and they will insist on following me home without taking a dime. They get to my house, bath, I make them coffee and before you know it, we’ve had fun while they prepare and go to either school or their places of work in daytime. Oftentimes, they go, never to turn up again while some will want the relationship to continue,” he stressed.

1,254 flats project back on course it,” Osomo said. Titi Olowo, also a resident on the Island told The MegaCity that Ilubrin before the women occupied it was a dump site, a fenced off area for depositing waste. “It was an open fill of decay and filth,” she said and expressed happiness with the development. It is a beautiful idea of the state government. Instead of letting it waste, it is better they develop it into a decent habitable and affordable environment. Meanwhile some environmentalists frowned at the practice of the

state government reclaiming part of the ocean and the lagoon. They argued that the constant encroachment does not augur well for the state ecologically and environmentally. They maintained that the damage to the ecosystem by excessive reclamation of land is gradual, accumulative and imperceptible, noting that the effects are irreversible. However, Daniel Aboh, a Geologist and chairman, Nigeria Mining Association, told The MegaCity that there was nothing wrong with the exercise, if it was properly done. “But when it

becomes rampant and reckless, the people must resist it because usurping natural settings could be disastrous in the long run,” he said. He argued further that it is a practice done in other developed parts of the world. “Parts of some countries abroad, especially Netherlands, were reclaimed from the sea. What is happening in Lagos should not be different. Statistics have it that China reclaimed 13,455 hectares of land from the sea, resulting in earnings of more than 7.82 billion yuan. So why can’t we do same in Lagos, Nigeria?” he said.

30 THE MEGACITY

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Date: Wednesday, August 20, 2014 from 10:00 AM to 2:00 PM Venue: The Dream Center, 8 Gbagada Expressway, Anthony Oke, Lagos.

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“Building Entrepreneurs”

Organiser: Debo Adeyemi (Aca), Ceo Joyful Samba Productions Date: Saturday, August 23, 2014 from 8:00 AM to 3:00 PM Venue: FESTAC, Lagos.

Engineering Soft-Skills Training Organiser: Dpros Global Resources Ltd Date: August 18, 2014 from 9:00 AM Venue: Suite B6b, Festac Plaza, 24 Rd, Festac, Lagos.

photos as posted on Instagram by residents of the city

#fotd#instalove# by @toyahue

#kinkybraids#makeup by @houseofglamormakeovers

#Siblings #TakingThemToSpendMyMoney by @funkymimzz

untitled by @zarazee22

Its chap n Man by @mmshehu

#Wednesday by @lolaoj

#PicOfTheDay @2faceidibia1 @annieidibia1 by @960music

Late post by @oyindamolaayobami

My City, My World

Lagos is a city of friendship – Senator Ogunlewe Oluwatosin Omoniyi Adeseye Smerenator Ogunlewe, forMinister of

Works says he loves Lagos because it is a city of friendship. Recalling his childhood in Lagos, Ogunlewe said he was born at 8 Okoya Street, Lagos Island and attended schools on the Island. According to him, then, the city was a mini Nigeria. It was ‘Lagos of unity’, ‘Lagos of all Nigerians’. The former Minister said he would not dream of living outside Lagos, because Lagos is the only place he has known for the past 60 years. “I was in Abuja for 10 years but I couldn’t settle there at all because I don’t know the history. But that of Lagos, I know it like the back of my hands… Lagos is my passion, my ancestral home.” He also described Lagos as a family place, a community of families. “I don’t want to be a stranger especially in a place I do not know the history.” He recalled with nostalgia the good old days of Lagos with its fun and activities. He said that there was unique religious harmony and that most Lagosians were ‘pagans’ then. “It was very interesting. When it was Eyo festival, Sukunibia, gelede or ileya and corpus Christi, we all participated regardless of our different religious background,” he said. According to him, there was also sport created by the British, adding “every one of us growing up belonged to either Boys scout or Girls Guard clubs or other sporting clubs. “There were also Libraries and sport facilities. That was how all the excesses of the youth were curtailed. Our Lagos was Lagos of Library, there was central library. There was the culture of development, education, and competitive education because as you were in primary school, you were already eyeing the secondary school you would attend like St.Gregory, Our Lady of Apostle, CMS Grammar School, etc. Those were the aspiration. Lagos was very peaceful.” According to him, as part of his passion for Lagos of his birth, he would love the develop ment of the new Lagos which was initiated by the Lagos Executive Development Board into a more modern cosmopolitan city.

Lagos as a state has best social life in Nigeria – Sanusi onourable Nasir Sanusi, a former councillor of Lagos Island local government loves everyHthing about Lagos state. It would be an abomina-

Up High by @floeypeters

untitled by @abdul2abbas1

Natural by @blazingd2

Plenty jolification wit @officiallolo1 by @ wazobiafmlagos

untitled by @ajokekim

Wit my people... @badgyalkelly @youngskales by @hg2films

tion for him to live outside Lagos. “I prefer Lagos than any other place in the world and would not dare to live outside it,” he said. He said Lagos is unique in so many ways, including its culture. He cited the Eyo festival which he said is unique to the city, and is a very rich and interesting one at that. But what he loves most about Lagos is that the city is very accommodating to the extent that it opened up itself to people of different diverse origin to share out of its goodness and asset. Sanusi believes that Lagos state has the best social life in Nigeria. He said the people of Lagos are kind hearted who are ever ready to assist. He further stated that Lagos women are wonderful, as they ensure the chord of love is intact. To him, Lagosians also don’t have time for frivolities, “they are less envious.” He said Lagos is a place one can catch plenty of fun, regardless of the sufferings that abound too. And he considers the city more secured than other parts of the country, “it is a more secured place, a bit of a crime-free zone…I love Lagos for what it is,” he said.

BUSINESS | NEWS

Sanctity of Truth

Monday, August 18, 2014

PROTEST Former militants from Edo and Delta states protest exclusion from amnesty programme Adeola Yusuf

he bickering among exmilitants over the amnesty funds has continued to degenerate. The Federal Government had earlier said that it has so far invested N243 billion in the implementation of the Amnesty Programme for Niger Delta ex-militants, but some former militants from Edo and Delta states have petitioned the coordinators of the programme, alleging gross injustice and exclusion in the way the third phase of the programme is handled. Their protest is contained in a petition addressed to the Special Adviser to President Goodluck Jonathan on Niger Delta and Chairman, Presidential Amnesty Committee, Mr Kingsley Kuku. The letter was copied to Jonathan, both chambers of the National Assembly, the Police and the State Security Service (SSS). The former militants, through their counsel, Mr Ugha Kurumah, said that they were from nine camps scattered over

CONTRABAND Exotic vehicles, mosquito insectic ides are among several seizures recorded in Lagos and Oyo states. Bayo Akomolafe

he anti-smuggling unit of the Nigeria Customs Service (NCS), Federal Operation Unit, Zone A, has arrested 19 smugglers over N150.4 million contraband in less than one month in Lagos and Oyo states. Other seizures include some exotic vehicle such as Toyota 4-Runners, Toyota Land cruiser, Toyota Tundra and Honda Pilot, among others. Also seized were bags of rice,

Ex-militants’ bickering over N243bn amnesty funds degenerates the two states. They alleged that some people close to some political appointees who were not registered in the programme were benefitting from the exercise at the detriment of “real militants.” The petition said that Beni-

Obiri Camp headed by Ojuemi Prediseghbofa keyed into the third phase of the amnesty programme with 1,300 persons and surrendered over 109 automatic weapons and several ammunition. It said that only seven slots were allocated to them in the

ir travellers have appealed to the Nigerian Civil Aviation Authority (NCAA) to sanction airlines over flight delays and cancellations without prior notice. These have become the features of air travel as virtually all Nigerian carriers are now known not to maintain their normal flight schedules which have caused incalculable damage to passengers’ travel plans. Aside the early morning schedule which they try to maintain, subsequent flights are either delayed or cancelled without notice to intending travellers. For instance, Aero Contractors flight to Calabar last week Wednesday never took off. The flight that was scheduled to depart at 12.30 pm took off at 2.30 pm. Passengers booked on the

monthly stipend, while that of Pina-Ofini Camp headed by Saturday Ajemiri entered the programme with 1002 persons. The camp was said to have surrendered 49 arms, but was given only five slots. The petition said that 800 persons from Oweikontei Camp

L-R: Service Manager, Kitskoo Cloud Services, Mr Gilbrt Kimeng; Executive Director, Mr Monu Ogbe and Solution Specialist, Mr Chinedu Omenkukwu, at a press briefing in Lagos.

Customs nabs 19 smugglers over N150m contraband in Lagos used clothes, wine, various soap, shoes, canned tomatoes, spaghetti, insecticide, seven trucks of jumbo bales of textile materials, frozen poultry and different merchandise. The acting Controller of the unit, Comptroller Adamu Turaki, said that 336 seizures were recorded between July 13 and August 9, this year. He explained that 64 different seizures totaling 5,722 bags of parboiled rice with duty paid value of 49.6 million were made. Turaki listed others seizures as including 5,975 cartons of smuggled frozen poultry prod-

ucts with a duty paid valued of N32,2 million; 111 units of vehicles valued at N55.05 million and 201 merchandise vehicles valued at N13.5 million. The acting controller noted that in July, his patrol team intercepted two flatbed trucks carrying illegally imported 1,200 bags of 50 kilogrammes of rice concealed with tarpaulin coated with cement dust to escape arrest along Lagos-Abeokuta way. “The seizure became remarkable in view of its mode of concealment and ingenuity of the smugglers, “he added. Also, he said that a team

Anguish over flight delays, cancellations Wole Shadare

Experts seek NCAA's help NCAA accused of going to sleep flight had started arriving the Murtala Muhammed Airport 2 at 11am preparatory to checking in for the service. They were, however, told that the flight had been rescheduled for 2.30pm. The announcement infuriated many people as many of them made alternative arrangement, while others went back home. Others however had to wait as there were no alternative other than to go by road if they so desired. Virtually all the carriers, sources said, are guilty of this, especially at the General Aviation Terminal (GAT) of the Lagos airport. However, while most stakeholders blame airlines for delays and cancellations, others argued that many of the long

delays experienced by passengers at the various airports in the country were due to bad weather and ageing infrastructure at most of the airports in the country. President, Sabre West Africa, an America-based travel solution firm, Mr Gabriel Olowo, stated that lack of schedule integrity by Nigerian carriers would make it very impossible for them to enter into partnership with international airlines. Olowo told New Telegraph that foreign airlines have had problems interlining or entering code share with Nigerian airlines because of their penchant for delays, flight cancellation under what they term, operational reasons.”

led by Chief Superintendent of Customs, Osaje H E, intercepted two trucks laden with 1,737 bags of 50 kilogrammes of parboiled rice worth N11. 09 million. He stressed that some textile materials were also seized at Oshodi in Lagos. Turaki noted: “Having taken cognizance of the herculean nature of this mandate and appreciative of the need to maintain and sustain the rating of the unit as a hub and flagship of anti-smuggling, it became pertinent for the unit to put measures in place to actualise it.”

headed by Emmaunel Aboh subscribed to the amnesty and surrendered 49 arms and several rounds of ammunition, but got only five slots. It also said that the Toruiyesinghan Camp headed by Ayefagha Yeriyemi surrendered 351 persons and handed over 55 arms and several rounds of ammunition, but also got five slots. The Ukurisi Camp, it said, headed by Jacob Ikpi, keyed into the programme with 277 persons and surrendered 40 arms and several ammunitions, but received four slots. On the other hand, Kala Osuwo Camp headed by Agama Peter with 219 persons and surrendered 22 arms and several ammunitions, got only one slot. According to the petition, Urhode Camp headed by Ovwighovie Ovayebewho entered the programme with 150 persons, surrendered several ammunition and 12 arms, but got only one slot for monthly allowance. Okuku camp headed by Isaiah Ajemiri entered into the programme with 200 persons and surrendered several ammunition and 26 arms, got only three slots, among others. It said that “these inappropriate engagements are making life after amnesty miserable and unbearable for all members of the entire camps. “We are surprised that in the midst of these predicaments, we are aware that our friends, political thugs have got slots to themselves from which they receive fabulous monthly allowances.” It said that affected militant camps should be allocated slots that correspond with the number of persons in the camps. The petition also called for the payment of arrears of allowances to the militants from February 28, 2013, being the date they entered into the third phase of the amnesty. This story was supposed to have been published on Friday but due to production mix-up, only the headline was published while another story ran under it. The mix-up is regretted. Editor.

90,000 seek Airtel’s CSR intervention Jonah Iboma

ver 90,000 entries have been received from Nigerians across the country for assistance in the CSR programme dubbed Touching Lives, inaugurated by telecoms operator, Airtel Nigeria, barely a month ago. According to Airtel, the bulk of the entries received are passionate pleas, nominating disadvantaged persons or group of people needing help; major community problems requiring urgent intervention and other special cases ranging from health issues, scholarships, and renovation of schools, economic empowerment interventions and skill acquisition programme, among several others. Chief Executive Officer of Airtel Nigeria, Segun Ogunsanya, described the response from Nigerians as massive

and highly encouraging, saying that it underscores the trust and confidence many people have for the Touching Lives programme. “We are thrilled by the interest, excitement and level of participation of Nigerians in our Touching Lives programme. Without a doubt, this indicates that we have the enormous support of well-intentioned Nigerians just as it is a glowing testimony to the fact that we are on the right path with the Touching Lives programme. The massive response, Ogunsanya explained, clearly showed the enormity of challenges facing our people and the need to provide support for the less privileged no matter how little because “a little help will go a long way in making a difference in the lives of others or the community.”

BUSINESS | MONEYLINE

Sanctity of Truth

Monday, August 18, 2014

Why CBN reintroduced N65 ATM charge MAINTENANCE

their customers. Specifically, the Director of Banking Supervision of Central Bank of Nigeria, Mrs Tokunbo Martins, said that customers of banks were encouraged to use their bank ATMs where nothing would be charged. She said, however, that if a customer is constrained to use another bank’s ATM, perhaps because of proximity, he or she should be allowed the first three withdrawals. Furthermore, she stressed that the charging of fees would start on the fourth withdrawal, emphasising that the charge was for the maintenance of the machines and the provision

The N65 charge is to cover cost of maintaining the ATM machines Godson Ikoro

head of the September 1, 2014, kick-off date for the re-introduction of the inter-bank Automatic Teller Machines (ATM) transactions fees of N65, the Bankers Committee at the weekend said that the charges were to be paid by banks on behalf of

of crisp notes which the other banks had to make. She gave the explanation on the heels of CBN reintroduction of fees on remote on us ATM withdrawal transactions. In order to ease the substantial cost burden incurred by banks in defraying the cost of the service, payment structure for card carrying bank customers, the CBN had reviewed the fees in line with present realities. In a circular coded BPs/DIR/ GEN/01/010 and signed by Dipo Fatokun , Director of Banking and Payment Systems Department, which was sent to all banks, the apex bank said the

CBN revises guideline for N220 billion disbursement

Godson Ikoro

s preparations begin for the presidential launch of the Micro, Small and Medium Enterprises (MSEM) development fund on Tuesday (tomorrow), the Central Bank of Nigeria at the weekend published a revised guideline for the disbursement of the N220 billion funds. Going by the revised guideline, the objectives of the fund is to channel low interest funds to the MSME sub-sector of the Nigerian economy through Participating Financial Institution ( PFIs) to enhance access to financial services, increase productivity and output of microenterprises, increase employment and create wealth and engender inclusive growth.

It also stated that two categories of the fund would have commercial and developmental components. While the commercial component shall constitute 90 per cent of the fund which shall be disbursed in the form of wholesale funding to PFIs in the following ratio: 60per cent of the Fund will go to Women and 40per centto others. Others Objectives of Wholesale Funding are to provide facilities to qualified and eligible PFIs for on lending to MSMEs. According to the guideline, the developmental component made up of the remaining 10 per cent of the Fund would be

shared between grant of 9.75 per cent and operational expenses (0.25per cent) at take-off. Specifically, the 9.75 per cent grant component of the fund shall support general development of the MSME sub-sector. It averred that it shall be incentives targeted at institutions that demonstrate good loan repayment culture to enable them attain more capacity for expanded outreach. The guideline also stated that PFIs shall qualify for the grant component based on their performance rating in poverty reduction, job creation and financial inclusion.

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

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

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

Yields on Nigerian Treasury bills may rise

he yields on Nigerian Treasuries are expected to go up at this week's auction while those of Kenyan debt could remain flat. Yields are expected to head higher at the auction in tandem with a rise in yields on the secondary market. The government plans to issue N70.64 ($435 million) worth of Treasury bills with maturities of three and six months on Wednesday, August 20, 2014, according to Reuters. "We expect to see yields up at the auction because of tight liquidity which should reduce demand for the short-dated debt notes," one dealer said. Bond yields climbed at this week's auction on the back of lower demand among investors. The government sold N100 billion worth of bonds with maturities ranging between three

ustomers of Sterling Bank Cmended Plc nationwide have comthe bank for institut-

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

for by the issuing bank. Meanwhile the apex bank at the weekend published the list of bureau the change operators who complied with the upward review of the minimum capital base from N10 million to N35 million; caution fee from N3.2 million to N35 million; and yearly renewal from N10,000 to N250,000 and License fee was raised to N1 million. Out of the 3,208 BDCs as at June 2014, a total 2442 had complied.

and 20 years at the auction held on Wednesday. Meanwhile, the yields on Kenyan Treasury bills are expected to be stable at this week's auction mainly due to a liquidity squeeze in the money markets and the central bank's desire to maintain stability in rates. The Central Bank of Nigeria will sell Treasury bills of all maturities for a total of 12 billion shillings ($135 million) and it will also seek to raise another 15 billion shillings through a joint sale of a five-year and 30year Treasury bonds. "I expect the Treasury bills to remain fairly flat next week as liquidity largely remains unchanged and the central bank endeavours to maintain rates stability," said Alex Muiruri, a fixed income trader at Kestrel Capital.

Sterling Bank ATM activation excites customers

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

reintroduction of the remoteon-us ATM cash withdrawal would henceforth be N65 per transaction. The charge is to cover the ATM monitoring, and fit notes processing by acquiring banks. Furthermore, the new bank charge shall be applied as from the remote –on-us withdrawal (in a month) by a card holder, thereby making the first three on-us transaction free for the card holder but to be paid by

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

ing a reward system for users of its ATMs during the ongoing ATM activations across the country. They expressed the opinion that such an exercise would encourage the use of ATMs in the country in line with the cashless policy of the Central Bank of Nigeria (CBN). Already, some of the customers who used the Bank’s ATMs in Adeola Odeku and Idimu branches Lagos and in some branches in Port Harcourt were given the one customer experience as they were treated to what was termed Sterling exclusive offerings. They include make-overs, photography sessions with celebrities, saloon services, spa /relaxation services, fashion incentives, exotic car rides and refreshment. Speaking on the modalities for the activation, the Bank’s Group Head, Strategy & Communications, Mr. Shina Atilola, explained that customers who carry out transactions on Sterling Bank’s ATMs at selected branches will be prompted to experience the one-customer treatment of their choice from the list of gifts and activities on offer. Furthermore, with this initiative, he said that the bank

would create a conducive environment to interact directly with users of these channels. At the end of the experience, these individuals, according to him, will have a better understanding of the “One-Customer” proposition. Atilola said, “As a responsible financial institution, Sterling Bank is committed to projects that would enrich the lives of its customers and at the same time support the laudable initiatives and policies of the CBN, particularly the cashless policy. This initiative will encourage card users to actually transact with their cards while those yet to obtain theirs will have no reason not to obtain theirs.” As the promoter of this initiative, Atilola said that the ATM activation would further deepen brand awareness and street visibility, adding that the ATM activation would convert the bank’s share of awareness to actual affinity with customers. Also speaking, a businessman who won one of the gift items, Mr. Ogundokun Anuoluwapo, described the ATM activation campaign as a unique platform to encourage the use of ATMs by the banking public, adding that this also confirms that Sterling Bank is a responsible corporate institution in the country.

BUSINESS | ISSUE 33

Sanctity of Truth

Monday, August 18, 2014

Nigerians expectant as Jonathan kicksoff N220bn MSMEs fund disbursement WEALTH CREATION Unemployed youth may soon sing a new song as Federal Government opens doors of financial empowerment

Abdulwahab Isa Abuja

World Bank report earlier this year placed Nigeria in third position in the poverty index hierarchy of countries inhabited by extremely poor citizens. The report which also listed countries like Congo, India and China as some of the countries inhabited by the poor masses received misgivings from government officials. Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, a visible cabinet member driving government economic policy, was quick to counter the World Bank verdict. But beyond the minister’s outrage on the verdict, most Nigerians endorsed the global bank's report as a near perfect reflection of living condition of average Nigerians; a country with most youths roaming the streets due to lack of employment. MSMEs as tool for poverty reduction, employment generation However, to tackle the problem of huge unemployment and reduce acute poverty afflicting the country’s huge population, government over the years has being implementing several poverty pronged attack policies aimed at closing poverty gap in Nigeria. Some of these include, YouWin, Sure-P and the most visible, the promotion of Micro, Small and Medium Enterprises (MSMEs) as mechanism to create wealth, tackle poverty and create job. CBN N220bn SMEs funding As part of the cardinal function of promoting and sustaining economy development, the CBN, last year, announced the launch of N220 billion on lending fund to enhance operation of SMEs in the country. Former CBN Governor, Mallam Sanusi Lamido Sanusi, who announced the special fund at the 7th Annual MSMEs Finance Conference and D-8 workshop on microfinance for SMEs themed: “Strategies for Sustainable MSMEs Financing,” said the fund would further boost access to finance by MSMEs by provid-

Jonathan

ing wholesale financing windows for participating financial institutions (PFIs) as well as improved their capacity to meet credit needs of MSMEs. Sanusi said that the N220 billion micro small and medium enterprises (MSMEs) fund would be accessed by Microfinance Banks (MFBs) at a maximum interest rate of nine per cent. He added that the MFBs were expected to make the funds available for on-lending to young entrepreneurs, particularly businesses managed by women at reasonable rates. The initiative, according to Sanusi was expected to offer funds at reduced cost to PFIs and particularly improve access of women entrepreneurs to finance. He reiterated that 60 per cent of the fund would be allocated to women. According to him, the intervention would also improve access by Non-Governmental Organisations (NGOs) to finance. However, the former governor cautioned that MFBs’ access to the fund would not be automatic as they would still need to apply for the fund and meet certain regulatory requirements including competence as well as a record of good behaviour. CBN’s disbursement of N220 billion MSMEs fund On assumption of office some months ago, the CBN Governor, Godwin Emefiele, left no one in doubt about his strong commitment of the apex bank under his watch to give priority attention to the funding of SMEs. This commitment was demonstrated last month at an en-

Emefiele

larged meeting and signing of MOU between CBN and state governors thereby setting the stage for the disbursement of N220 billion SMES funding. Emefile harped on vital role played by the MSMEs. According to him, “MSMEs are globally recognised as the critical engines of economic growth due to their potential to create jobs, boost production, generate income, and reduce poverty.” But sadly, he said that this unique role of the sector was hardly met in Nigeria, adding that, “MSMEs in Nigeria do not have the adequate financing needed to play this pivotal role in our development trajectory. In order to address this gap and unlock the potential of Nigerian MSMEs, the Central Bank of Nigeria (CBN) has initiated this N 220 billion fund as a n innovative way of improving their access to finance, shoring up their potentials for job creation, and enabling them reduce poverty within the country. “This effort is in furtherance of the Bank’s earlier endeavor at establishing six

The MFBs were expected to make the funds available for on-lending to young entrepreneurs, particularly businesses managed by women at reasonable rates

Okonjo-Iweala

Entrepreneurship Development Centres (EDCs) in each Geopolitical Zone to support the mandate of the 23 Industrial Development Centres (IDCs) under the purview of the Small and Medium Enterprises Development Agency (SMEDAN).”, He made this declaration at an MOU signing meeting which had in attendance the Osun State Governor, Ogbeni Rauf Aregbesola; Senator Abiola Ajumobi of Oyo State; Godwill Akpabio of AkwaIbom State and Delta governor, Emmanuel Uduaghan while Enugu, Zamfara, Borno, Ondo Benue,Bayelsa, Gombe and Taraba were represented by Deputy governor and Secretary to the State Government respectively. To kick-start the payment of the soft loan launched last year to empower less financially vulnerable members in all the 36 states of the federation, Emefiele announced that President Goodluck Ebele Jonathan would administer the initial loan disbursement tomorrow (August 19, 2014). Announcing the historic event, he said President Jonathan will use the occasion of CBN 8th annual Micro, Small and Medium Enterprises (MSMEs) Finance Conference which begins today in Abuja for the occasion to declare the Conference open and flag off the disbursement of the N220 billion MSME Development Fund. The President is also billed to award prizes to MSMEs, Deposit Money Banks and State Governments who distinguished themselves in Entrepreneurship Development in 2013

Reactions to N220 billion MSEMES The governors were also quick to express their feelings on the N220billion fund. While expressing their gratitude to CBN for its intervention aimed at reducing poverty and creating jobs for Nigerian youths, they nonetheless tasked CBN on elimination of bureaucratic bottlenecks associated with accessing the fund. Speaking on likely impediments that could hamper the disbursement, Akwa-Ibom state governor, chief Godwill Akpabio, said, "The impediment we talk about is to reduce some of the banks the money will have to go through. If it moves from CBN directly to the micro finance banks, that would be fantastic from there straight to the beneficiaries. The states could mop up the interests and allow it to go to beneficiaries almost at zero per cent interest." In his contribution, the Osun state governor, Ogbeni Rauf Aregbesola, lauded the CBN initiative as coming at the best time. He said his administration had already put in place youth empowerment scheme which led to the engagement of over 40,000 Osun youths. To ensure the loans are disbursed to the rightful beneficiaries, the governor said the apex bank would equip its human resource to monitor disbursement. He also said that the intermediaries’ commercial banks that would be used as link for loans disbursement to micro finance banks would be required to submit periodic statement to ensure compliance.

business | STOCK WATCH

Sanctity of Truth

Monday, August 18, 2014

Okomu Oil Plc: Market sentiment returns on expansion drive Outlook

Share price movement of Okomu Oil Plc

Prospects drive investors’ appetite

2013

Chris Ugwu

il palm is one of the most important economic oil crops in Nigeria. According to World Rain-forest Movement, oil palm is indigenous to the Nigerian coastal plain, though it has migrated inland as a staple crop. Cultivation of oil palm serves as a means of livelihood for many rural families and, indeed, the farming culture of millions of people in the country. The reference to oil palm as a crop of multiple value underscores its economic importance. Oil palm is made of essential components, namely the fronds, the leaves, the trunk and the roots, which are used for several purposes ranging from palm oil, palm kernel oil, palm wine, broom, and palm kernel cake. According to reports, as at early 1900, Nigeria was producing palm oil sold in the world market and it was considered a dominant source of foreign exchange. Until the 1960s, Nigeria was the world’s largest producer of palm oil, accounting for 43 per cent of global palm oil production. However, over-reliance on traditional production methods, excessive tapping of palm trees for palm wine, the civil war between 1967-1970 and, above all, over dependence on oil and gas as major sources of revenue are factors that contributed to Nigeria’s inability to meet up with the global rise in demand for palm oil. Notwithstanding, the likes of Okomu Oil Plc and Presco Oil Plc, two big commercial operators in the Nigerian palm oil sector, have shown commitment to improving Nigerian economic outlook in the international community and bringing it out of the doldrums that has plagued it for over three decades, though, without challenges in financials of the companies. While it was accepted generally that the overall economic and business climate was a mixed fortune due to mounting economic challenges, Okomu Oil was not insulated as its full year profits dropped 95.3 per cent and share price movements has also declined, the company, like others, have remained susceptible to the challenges facing the manufacturing businesses in Nigeria. However, the company’s bottom-line had depleted during the financial year ended 2013, but have begun to soar as at the second quarter of 2014 financial report firmed up to what market watchers attributed to the strong recovery of the whole agricultural sector as a result of supportive government reforms

Sept 30

N46.00

Oct 31

N45.99

Nov 30

N42.40

Dec 31

N44.00 2014

Oyebode

after decades of neglect. Market sentiments for the shares of the company has remained firm, not only on the back of demand for palm oil which outstrips local supply by almost 50 per cent, but also beyond palm oil, as rubber which it also produce, offers diversification opportunities. Investors’ interest is also returning due to expansion strategies currently being embarked upon by the oil company. The share price which closed at N46 per share on September 30, 2013, has recorded a decline in growth that when the closing bell rang on Friday, the company’s share price stood at N36.47, a decrease of N9.53 or 26 per cent year to date.

of the company’s share capital. The principal activities of the company are the cultivation of oil palm and rubber, refining of fruits bunches, oil milling, palm kernel processing and the development of rubber plantation. The products are palm oil, palm kernel oil, palm kernel cake and rubber cup lumps.

Corporate profile Okomu Oil Palm was incorporated as a private limited liability company on December 3, 1979. It was converted to a Public Limited Company on September 8, 1997 under the Company and Allied Matters Act of CAP C20 LFN 2004. It is a member of the SocFinal Group of Belgium which owns 52.33 per cent

Investors’ interest is also returning due to expansion strategies currently being embarked upon by the oil company

Financials Okomu’s performance indicators for the year ended December 31, 2013, decreased as the company’s profit after tax dipped to N425.09 million against the N8.95 billion posted in 2012.

Jan 31

N40.60

Feb 28

N41.00

Mar 31

N42.00

Apr

N33.50

May 30

N33.10

Jun 30

N33.90

Jul 31

N32.80

Aug 15

N36.47

The result which was contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) was a decrease of 95.25 per cent in net profit over the figure in 2012. The profit before tax also declined by 38.17 per cent to N2.69 billion from N4.35 billion achieved in the corresponding period of 2012 while gross profit stood at N4.99 billion in contrast to the N6.31 billion achieved in 2012, a decrease of 20.92 per cent. The company’s turnover stood at N8.86 billion against N10.15 billion achieved in 2012, representing a decrease of 12.71 per cent. Okomu attributed the drop to a tough operating environment for agri-processing companies, especially seen in lower than average commodity prices and/or volumes. However, signs of improvement were triggered during the current year as the company recorded 17.5 per cent growth in pretax profit during the second quarter ended June 2014. In filing with the Nigerian Stock Exchange, the company’s profits grew from N1.427 billion during the comparable period of 2013 to N1.730 billion in 2014, indicating a growth of 17.5 per cent. Revenue inches up marginally by 0.8 per cent from N4.829 billion in 2013 to N4.869 billion during the period under review while total asset increased by 6.5 per cent to N32.594 billion from N30.491 billion during the comparable period. Outlook The company plans to invest about N8 billion over the next four years for expansion. Its Chairman, Mr Gbenga Oyebode, said that they would plant at least 10,000 hectares of

oil palm within the next three years and thereafter, a new 60 tonnes per hour oil mill would be installed to process the FFB produced, under the proposed investment plan. At the company’s 34th Annual General Meeting (AGM) in Abuja, Oyebode said that whilst prospects may not currently seem too optimistic, the company’s board feels that there was still underlying potential for the company’s development within Nigeria, promising that opportunities exit to offer better returns for the shareholders in future. He said that the company has begun the expansion of its current oil mill from 30t/hr to 60t/ hr at a cost of about N2.5 billion, adding that this will effectively make Okomu oil one of the largest mills in Africa, and certainly one of the newest technologies, featuring tilting sterilizers, scheduled for completion this year. Analysts’ perception Based on the results, analysts at the FBN Capital increased their 2014-15 E-earnings estimates by an average of 12 per cent, and price target by 13 per cent to N39.4. “Our revision is premised on Okomu’s Q2 numbers coming in much stronger than we had expected. Sales and PBT beat our estimates by 11 per cent and 64 per cent respectively. “We expect H2 output to be down vs H1 due to seasonality. In addition, prices for palm oil and rubber continue to be subdued (ytd they are down -6 per cent and -20 per cent respectively). Historically, Okomu’s earnings have been volatile q/q; hence, our estimates are conservative. We forecast H2 PBT to decline -64 per cent vs H1. We have rolled over our valuation to 2015. “Our new price target is N39.4 which implies an upside potential of 14.5 per cent from current levels. Okomu shares are trading on a 2014E P/E multiple of 16.8x for 2015 EPS growth of 15.6 per cent. Compared with our coverage of consumer goods names which are trading on current P/E multiples in the 10-34x range, Okomu remains relatively attractive. However, we do not envisage the shares outperforming the All Share Index (ASI) in the near to medium term. As such, we have retained our neutral rating.” The analysts noted that they expect Okomu to reach a processing rate of 60te/hr next year and double the current rate. “As such, volumes are unlikely to grow significantly in H2 2014. As for palm oil prices, we expect these to remain relatively stable till the end of the year. Rubber prices on the other hand have been on the downward trend and we expect them to remain subdued. Consequently, we forecast modest sales growth of three per cent y/y and a seven per cent decline in EPS in 2014E,” they said.

BUSINESS | CAPITAL MARKET REPORT

Sanctity of Truth

Monday, August 18, 2014

Nigerian stocks deflate as sentiment turns red DECLINE Negative sentiments rule the local bourse Chris Ugwu

he Nigerian stock market, last week, lowered its momentum from the previous week’s gain as market sentiment turned red. After recording significant growth, the market which opened the week in a negative trajectory, skewed downward during the week safe for Tuesday when the bulls managed to regain stronghold. This was due to profit taking by investors in the wake of the cautious optimism that has prevailed in the market occasioned by the current security challenges and the 2015 general elections that is gathering momentum. Market operators had predicted that the bullish trend that was recorded in the previous week would trigger profit taking and impact negatively on the stock market when market speculators slow down to pick profits. Cumulatively, the NSE AllShare Index and Market Capitalization depreciated by 2.86 per cent to close at 41,380.05 and N13.664 trillion respectively on Friday. Similarly, all the NSE sector indices depreciated during the week with the exception of the NSE ASeM index that closed flat. Stock Market opens the week in negative trajectory The Nigerian stock market degenerated from sell offs last Monday as the bears overshadowed the bulls, leading to share decline in most blue chip companies. The key market performance measures, the NSE All Share Index and market capitalisation, dropped by one per cent as market sentiments turned red on the back of losses recorded by two brewery giants and Dangote Cement Plc. Specifically, the NSE AllShare Index depreciated by 585.73 basis points or 1.4 per cent to close at 42,012.73 as against 42,598.46 recorded the previous day. The market capitalisation of equities equally plummeted by N193 billion or 1.4 per cent to close at N13.872 trillion from N14.065 trillion recorded the previous day. At the close of trading, 27 stocks appreciated in price during the day as against 34 others that depreciated in value. Seplat Nigeria Plc advanced by N5.00 to close at N695.00 per share to led the gainers table while Total Nigeria followed with a gain of N1.04 to close at N180.00. Reversing the day’s gains, shares of Nigerian Breweries Plc depreciated by N9.14 to close at N175.01 per share. Guinness Nigeria Plc followed by a drop of N6.50 to close at N193.50 while Dangote Cement fell by N3.99 to close at N226.01 per share.

NSE building

Meanwhile, a turnover of 143.09 million shares worth N1.9 billion in 4,697 deals was recorded in the day’s trading. The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 53.8 million shares worth N570.1 million exchanged by investors in 1,217 deals. Volume in the banking subsector was largely driven by activity in the shares of UBA Plc and Diamond Bank Plc. Also, other financial services sub-sector, boosted by the activity in the shares of FBNH Plc, followed with a turnover of 23 million shares valued at N263.6 billion in 743 deals. Bullish sentiments returned to local bourse Activities on the floor of the Nigerian Stock Exchange on Tuesday closed on the upward trends as the bulls staged back to shore up investors’ interest after the bear took centre stage at the opening of transactions the previous day. The return of bullish sentiments was on the backdrop of price appreciations by major blue chip companies - Nigeria Breweries Plc, Flour Mills Plc and Dangote Cement Plc. Specifically, at the close of transactions, the banking subsector of the financial sector remained the most active stock in volume terms with 170.6 million shares valued at N1.7 billion in 1,568 deals. The sub-sector was activated by the shares of Access Bank Plc and UBA Plc. Other financial institution services sub sector enhanced by the shares of UBA Capital followed with a turnover of 24.30 million units valued at N278 million in 756 deals. On the whole, investors exchanged a total of 288.5 million shares valued at N3.7 billion in 5,490 transactions. Further analysis showed that at the close of trading session, the NSE All-Share Index was up by 80 basis points or 0.19 per cent to close at 42,092.73 as against 42,012.73 recorded the previous day while the market

Five most capitalized stocks@ Aug 15, 2014 Dangote

N3.9tn

Cement Plc Nigerian

N1.3tn

Breweries Plc Nestle

N879.8bn

Nigeria Plc Guaranty

N856.4bn

Trust Bank Plc Zenith Bank

N750.4bn

Plc capitalisation appreciated by N26 billion or 0.19 per cent to close at N13.898 trillion in contrast to N13.872 trillion recorded a day before. Investment value dips N112 billion as market speculators take profits On Wednesday, the bulls returned to trenches, dashing the hope of investors that bullish rally witnessed at the stock exchange the previous day would be sustained. The return of the bearish sentiments was on the back of losses suffered by most blue chip companies, particularly from the oil and gas sector. Hence, trading activities closed on the negative trajectory as activities on the shares of oil and gas lowered momentum to give the bear enablement to regain stronghold in the Nigerian capital market. Forte Oil Plc along with Mobil Nigeria Plc and other blue chips shed weight, dragging the market southwards which was mainly due to profit taking by speculators in the wake of the cautious optimism that has prevailed in the market in the recent time. The twin market performance indices, the NSE ASI and

market capitalisation, dropped by 0.81 per cent as the market tempo lowered. At the close of trading in the day, 17 stocks recorded price appreciation, while 31 others constituted the losers’ table. The All-Share Index dropped by 339.54 basis points or 0.81 per cent from 42,092.73 the previous day to close at 41,753.19, while the market capitalisation dropped by N112 billion or 0.81 per cent from N13.898 trillion to N13.786 trillion. Further analysis of the day’s trading showed that CAP Plc topped the day’s gainers table with 52 kobo to close at N39.52 while Lafarge Wapco Plc added 20 kobo to close at N120.00 and Livestock Feeds Nigeria Plc followed with15 kobo to close at N3.22 per share. On the flip side, Forte Oil led losers with a drop of N6.93 to close at N227.07 while Mobil Oil Nigeria Plc shed N5.00 to close at N170.00 per share and Skye Shelter followed with N4.75 to close at N90.25 per share. Stock market records marginal loss The bear battled on Thursday to sustain stronghold in the Nigerian capital market following marginal drop in both market performance indices reflecting profit taking, amid drop in investment activities. Consequently, the All-Share Index shed 2.81 basis points or 0.007 per cent to close at 41,750.38 as against 41,753.19 recorded the previous day, while the market capitalisation of equities depreciated marginally by N1billion or 0.007 per cent as market sentiments turned red. Meanwhile, a turnover of 207.9 million shares worth N2.2 billion in 4,785 deals was recorded in the day’s trading. Banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 115.4 million shares worth N743.7 million exchanged by investors in 1,441 deals. Volume in the sub-sector was largely driven by activity in the shares of Unity Bank Plc and Diamond Bank Plc.

Also, other financial services sub-sector of the financial services sector, boosted by activity in the shares of FBNH Plc, followed with a turnover of 18.8 million shares valued at N191.8 million in 639 deals. At the close of trading session, 18 stocks recorded gain while 30 shed weight. On the gainers’ table, producer of building inputs, Dangote Cement, rose by N5.87 to close at N231.95 per share. Also, refined petroleum products manufacturer, Mobil Oil Nigeria, advanced by N5.00 to close at N175.00 per share. Oil services logistics company, The Caverton Offshore Group, firmed by N0.10 to close at N5.90 per share while Paints and Coatings Manufacturers Nigeria strengthened by N0.07 to close at N1.61 per share. On the flip side, refined petroleum products marketers, Conoil, plunged by N5.26 to close at N67.24 per share, while industry rival, Forte Oil, shed N1.07 to close at N226.00 per share. Brewery companies, Nigerian Breweries and Guinness Nigeria, pulled back by N4.29 and N2.94 to close at N170.70 and N190.06 per share respectively. Investors lost N122 billion On Friday, the bearish sentiment persisted as investors lost N122 billion following sell pressure on blue chip companies. The key market performance measures, the NSE All Share Index and market capitalisation, dropped by 0.89 per cent as market sentiments turned red on the back of losses recorded by Skye Shelter and Total Oil Plc. Specifically, the NSE AllShare Index depreciated by 370.33 basis points or 0.89 per cent to close at 41,380.05 as against 41,750.38 recorded the previous day. The market capitalisation of equities equally plummet by N122 billion or 0.89 per cent to close at N13.663 trillion from N13.785 trillion recorded the previous day. At the close of trading, 23 stocks appreciated in price during the day as against 24 others that depreciated in value.

RECOMMENDATIONS Members of the Nigerian Insurers Association may soon put an end to the incessant losses encountered in the maritime industry

Insurance

Marine: Underwriters intensify move to boost premium

Sunday Ojeme

ollowing series of consultations between stakeholders in the maritime sector and underwriters as a result of premium leakages, the Nigerian Insurers Association is taking an urgent step to put an end to the use of fake certificates and other insurance documents by operators in the maritime industry. The association arrived at the decision after a long drawn battle that has seen the underwriters losing over N46 billion to the use of fake insurance documents by unscrupulous maritime operators. To this end, the Marine Office Committee of the association has made a six-point recommendation to the association on the best way to get the issue straightened out. Among other things, the report suggested that companies should encourage adequate training and exposure of marine underwriters in the international world for proper skill acquisition. New Telegraph recalls in an interview with a practitioner that major stakeholders in maritime and insurance sectors met recently to finalise details on the extension of Nigerian Insurance Industry Database (NIID) to the maritime industry.

L-R: Commissioner for Establishment, Training and Pensions, Mrs Florence Oguntuase; Lagos State Governor, Babatunde Fashola; Director General, Lagos State Pension Commission, Mr Rotimi Hussain and Executive Director, Finance and Investment, Dr. Adekunle Wright, at an award ceremony where Lagos was award as best pension compliant state in Contributory Pension Scheme.

Although details of the meeting attended by members of committees from both sectors were not made available, it was, however, gathered that the essence of the parley was to put finishing touches to the documents that would guide the implementation of the project. The Head, Media and Communication of the association, Mr. Davies Iyasere, disclosed that the committees engaged final consultations with the major stakeholders towards the smooth implementation of the project before the end of the

year. He said, “The process commencing the implementation has gone into advance stage. Stakeholders in the maritime sector and the NIA committee on the implementation met recently to cross the ‘Ts’ and dot the ‘Is’. “Our technical team has also been meeting to sort out the gray areas prior to the launch. We are going to accommodate every single stakeholder in the sector. This will include the Nigeria Customs, the various association, the freight forwarders

and everyone involved in one form of business transaction or another.” Although he could not give the exact amount of money the insurers were losing to the loopholes in the sector, he, however, said that it was huge considering the fact that the marine industry is one of the highest revenue earners for the country. The maritime industry, which is unarguably the second highest revenue earner for the country after crude oil, has for long constituted a major problem for underwriters as fake

A.M. Best unveils Nigerian insurers' ratings he world's oldest and most authoritative insurance rating agency, A.M. Best Company, has unveiled the latest Financial Strength Rating (FSR) and Issuer Credit Rating (ICR) of the four Nigerian based insurance outfits rated by the organisation. In the latest edition of A.M. Best Non-US Ratings Monitor, the organisation assigned to African Reinsurance Corporation A- Positive (FSR) a- Positive (ICR), Continental Reinsurance

Plc got B+ Stable (FSR) bbb- Stable (ICR), Custodian and Allied Insurance Plc got B Stable (FSR) bb Stable (ICR) and Mansard Insurance Plc was assigned B Stable (FSR) bb+ Stable (ICR). The credit ratings became effective on August 1, 2014. Before now, the rating agency assigned to African Reinsurance Corporation AStable (FSR) a- Stable (ICR), while the remaining three insurance outfits retain their previous ratings.

he Managing Director of TPolycarp Guinea Insurance (GI) Plc, Didam, has once

Guinea to grow market share through strategic investment

again reiterated the company’s total commitment to consolidate and strategically grow its market share through decisive long-term investment and customer engagement initiatives. In a statement by the Team Lead, Corporate Services, Guinea Insurance Plc, Ufot Hanson, the Managing Director said: “We are peopled by skilled professionals in the business of underwriting; an edge we believe will take our organization to the next level. “Our company’s strength lies in our passion for high

Sanctity of Truth

Monday, August 18, 2014

standards and determination to become a world class enterprise, one with the scope and economies of scale necessary to serve the financial and risk management requirements of our numerous customers, many of whom trade not just in domestic markets, but regionally and throughout Sub-Saharan Africa.” While noting that part of the repositioning strategies of the company was to constantly

Associate Director, Market Development and Communications, A.M. Best -Europe, the Middle East and Africa (EMEA), Dr. Edem Kuenyehia, says the FSR indicates an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations, while the ICR specifies an insurer's financial strength and ability to meet its ongoing senior financial obligations. The rating agency explained

improve on customer service, claims experience and ultimately stand out the Guinea Insurance brand amongst its peers; Group Lead, Technical, Wole Fayemi, further emphasized the company’s commitment to continually optimise its business processes with the sole aim of meeting the dynamic needs of its numerous customers. He said: “Customer satisfaction is the pivot of our achievements and this, inevitably

that the FSR of African Reinsurance Corporation was APositive, meaning that the company has an excellent ability to meet its ongoing insurance obligations. Its ICR which was a- Positive also confirmed that the company has an excellent ability to meet their ongoing senior financial obligations. The positivity indicates possible rating upgrade due to favourable financial/market trends relative to the current rating level.

builds brand loyalty. Our company’s capacity to settle genuine claims to the insuring public is underscored by its increasing premium yielding policies and capital generating ventures. “We have therefore adopted a Rapid Claims Payment System (RCPS) to ensure that our response time for claims settlement is within 72 hours upon receipt of a duly Executed Discharge Voucher (EDV) from the insured.

insurance documents are often used to effect multi-million dollar transactions. In the latest recommendation to the Association by the committee, underwriters were also enjoined to develop scientific models for adequate insurance pricing in line with recommendations of International Union of Marine Insurance (IUMI); the law enforcement agents should step up security measures within our territorial waters to combat the menace of piracy and kidnapping that is threatening the marine insurance portfolio and underwriters should have proper understanding of the risks that they underwriter and the risk assessment should be taken seriously. They also recommended that modern technology and adequate flow of communications should be used strategically to reposition the Nigerian Insurance market against the unhealthy rivalry amongst the underwriters and that insurance data bank should be developed by the NIA for the market. It had also been suggested that the NIA should collaborate with government to ensure the provision of electronic invoices that would be issued to the Nigeria Customs Service, importers and insurers so as to reduce the incidences of under declaration in the system and allow for easy monitoring by concerned stakeholders. They also canvassed the adoption of electronic tracking system for the vessels operating in the nation’s sea ports. In spite of the premium leakages from the sector, past records showed that underwriters met their claims obligation to marine insurance policyholders to the tune of over N400 million in 2011 as revealed by the NIA digest. Findings revealed that the highest claim of N60.98 million was paid by Unitrust to oil conglomerate, Nigerian Agip Exploration Limited (NAE) for the losses it suffered in one of its premises. Besides Unitrust, ADIC Insurance Company Limited also paid out claims to Infinity Tyres and Dana Foods Limited, while Cornerstone and International Energy Insurance met their obligations to Anotech Global Nigeria Limited, Japaul Oil, Total E & P Nigeria Limited, and the Nigeria Police Force respectively. Details of the payments further revealed that Lasaco Assurance Plc, Law Union and Rock, Leadway Assurance, Mansard, Mutual Benefits, NEM, Staco, Union Assurance as well as Zenith General Insurance Limited also met their obligations to the policyholders. In a bid to cover the industry properly and block premium leakages, operators believe that the NIID scheme that has recorded a remarkable success in vehicle insurance division would be the best option to be deployed.

BUSINESS | INSURANCE 37

Sanctity of Truth

Monday, August 18, 2014

IEI, Ogun go practical with insurance for pupils RESCUE Brilliant but indigent students and those who lose their sponsors while still in school have been given an opportunity to complete their education Sunday Ojeme

he management of International Energy Insurance and Ogun State Government have gone a step further than merely introducing insurance education to children in primary and secondary schools by designing products to enable them

transfer some of their ‘risks.’ The insurance scheme put in place by the state government in conjunction with the Parent Teacher Association is to ensure that brilliant but indigent pupils have the means to continue their education when the chips are down. At a recent cheque presentation to some of the pupils in the state, the Commissioner for Education, Science and Technology, Barrister Segun Odubela, advised parents to allow their wards partake in the insurance scheme. Odubela said the government would not fold it arms and watch a situation whereby brilliant but indigent students’ educational career was caught short as a result of accidents and untimely death of their

parents or sponsors. In his words, "We will not allow brilliant students to withdraw out of schools just because of their poor background or death and or disability of their sponsors.” He, therefore, advised those who are yet to key into the insurance scheme to do so, saying that benefits derivable from the exercise outweighs the annual premium paid by subscribers. In his contribution, the Group Head, Business Development, International Energy Insurance, Dele Oyetunji, said more than 50,000 students have benefitted from the scheme from its commencement in 2012. He said, "Each of the students in the state public secondary school paid an annual premium of N500 while their counterpart

in the primary school paid N300." It will be recalled that major stakeholders in the insurance industry had made concerted efforts to inculcate the benefit of insurance into the minds of pupils through donation of insurance related academic materials. The Chartered Insurance Institute of Nigeria has developed programmes to enrich insurance subjects in schools. To this end, it has gone into partnership with Joseph Ayo Babalola University to conduct retraining programme for insurance teachers. The institute is organising the programme to equip the teachers for better teaching of the subject in schools as well as interacting with stakeholders in the academic circle. Supporting the school insurance project, the institute spent

N4 million to publish an insurance book, which over 2000 copies were donated to schools. The institute had earlier approved the donation some copies of the book to each of the over 2,000 Public Secondary Schools in Nigeria that was considered a significant step in the current campaign to facilitate the teaching and learning of Insurance in secondary schools. The publication of the book offered unique opportunity for advancing one of the cardinal programmes of the institute which is the promotion of insurance education in Nigeria and also to herald a new dawn in insurance education by entrenching insurance in the consciousness of secondary school students who are the future leaders of the nation.

Airtel pays claims to its policyholders

irtel Ghana, CIMG Telecoms Company of the Year, in collaboration with MicroEnsure and Enterprise Life Insurance, has paid out claims to beneficiaries of Airtel Insurance. Airtel Insurance offers Airtel customers life, accidental, permanent disability and hospitalization insurance with benefits increasing based on airtime topup. The product was launched in January this year to add to the company's range of products available to their valued customers. Receiving his claim, Cornelius Tetteh, a Marketing Officer who lives in Madina said the money had been of great help to him. "I was shattered by the death of my father and couldn't pay all the funeral expenses. That was when I remembered that my father named me as the next of kin on his Airtel Insurance policy", he explained. Describing how he went about the process, the recipient said, "I called '580' to enquire since I did not know the processes. A friendly agent from MicroEnsure returned my call, assisted me with my claim and within 72 hours after submission of my documents and verification of my claim, I received GHS 2,500.00 through Airtel Money. My Airtel number is now my

main contact number. I use it for both calls and data because I will get more insurance cover from Airtel if I recharge more. Airtel Insurance really works." Another beneficiary, Stanley Blewu, a journalist in Accra, also had his insurance claim paid to him when he was admitted at the hospital for some time. He had a challenge with meeting his huge medical expenses. He said, "I was very surprised to see a message pop up on my phone with Airtel informing me of the insurance cover I had earned this month. I received GHC 150.00 through Airtel Money after 24 hours of verification. The money came in handy. At first, I thought it was a hoax but it turned out to be true! Apart from offering good services, Airtel is now helping people through their free Insurance product.” Airtel Nigeria, Cornerstone Insurance Plc and MicroEnsure also unveiled a free insurance product that will offer customers life and hospitalisation insurance products in Nigeria last week. The product, which is tagged Airtel Insurance, comes with increasing benefits based on monthly airtime recharge and packaged to deliver affordable insurance services and encourage insurance culture among Nigerians.

KPMG releases South African insurance industry survey

ach year KPMG releases its South African Insurance Survey, and each year it provides the industry with interesting insight. The 2014 survey, which was presented on 7 August, was conducted based on the financials of 42 short-term insurers, 32 long-term insurers and seven reinsurers, and was presented in line with a football theme – a unique and fun way of presenting such information. With the industry constantly changing and evolving, KPMG had more than its fair share of adequate content to include in its 2014 edition. Among those topics covered are social media usage within the industry, salient features from South Af-

rica's short-term and long-term insurance markets, current industry trends, and data and analytics. It is interesting to note that many of its featured articles focus on the availability and use of information, as well as on data quality. KPMG noted how the insurance industry has made huge investments in technology over the past few years, which shows that insurers across the country realise the importance of, and need for, accurate data. Sticking with the football-

L-R: Group Managing Director, Union Bank, Mr Emeka Emuwa; Vice President/Executive Chairman, Aiteo Group, Mr Benedict Peters and Executive Director, Corporate Banking, Union Bank, Mr Emeka Okonkwo, after the signing ceremony of $ 1.488 billion loan facility for AITEO Eastern Exploration and Production Company Limited OML 28 & NCTL by a consortium of financial institutions in Lagos

Liberty eyes Nigeria, Ghana insurance markets

nsurer, Liberty, is finalising talks to acquire a business in Ghana as well as planning an inroad into the Nigerian insurance market. The Chief Executive Officer, Thabo Dloti, said, "We are making progress in Ghana, very good progress. We are still confident we will make progress in Nigeria."

inspired theme, KPMG picked two BRICS nations (Brazil and South Africa) who had both hosted the World Cup on their soil, and had KPMG insurance leaders from these two countries discuss market trends and contribute thought-provoking insight into their respective markets – which can also be found in the survey. In addition to the regulatory content contained in the 2014 edition, KPMG benchmarked the remuneration models of football players and insurance executives. The results are definitely worth a read.

"In Ghana, we are looking at insurance and asset management. We have made more progress on the asset management side." Liberty, which has a presence in about 15 African countries, has had difficulty in clinching deals. It had expressed interest in acquiring financial services firm Alexander Forbes as part of a plan to grow in the corporate market. Last year, it had an interest in Guardrisk, a business previously owned by Alexander Forbes, but nothing came through. On Alexander Forbes, Dloti said, "I think it’s known we had an interest. We are trying to grow in the corporate market not only in South Africa. We did express interest but it did not come through." Liberty is the largest writer of risk business in South Africa’s retail affluent market. It still believes that there is room for growth in this market, but it has been looking to expand in the corporate market. Deputy CEO, Steve Braudo, said the company was expanding its distribution channel and recruiting advisers that could

sell both to retail and corporate clients. "In the corporate space we have now built a direct model," Braudo said. Liberty is also trying to build a solid health offering in South Africa and the rest of Africa. It bought out minorities in Liberty Health for R133m as it looks to refine the business. Liberty Health is active in medical administration in South Africa and in the rest of Africa, where it provides medical insurance. Liberty Health has suffered losses and the company has been restructuring the business to position it for growth. Liberty Health narrowed its loss to R22m in the six months to end-June this year compared to R26m in the previous corresponding period. Liberty Corporate grew headline earnings 61.5 per cent to R84m, and Liberty Africa Insurance posted a 56 per cent earnings rise to R28m. In insurance, the retail segment reported a three per cent rise in headline earnings to R795m, and the institutional segment posted R90m headline earnings compared to R44m in the previous period.

38 business | FINANCIAL MARKET NEWS

Sanctity of Truth

Monday, August 18, 2014

FMDQ Daily Quotations List

15-Aug-14

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

Bonds

Price

FGN Bonds Issuer

Rating/Agency

Description 9.25 28-SEP-2014 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030 12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00 12.15

100.00 535.00 530.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 281.35 75.00 150.00 200.00 591.57 70.00

TOTAL OUTSTANDING VALUE

4,591.19

TOTAL MARKET CAPITALISATION

4,660.39

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

***LCRM

Description

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

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.12 0.69 2.00 2.70 2.95 3.04 3.79 4.87 5.19 7.45 9.58 14.29 14.77 15.27 15.94 19.92

10.74 11.01 11.39 11.29 11.34 11.34 11.44 11.54 11.68 12.15 12.31 12.35 12.32 12.29 12.19 12.37

9.51 10.21 11.31 11.23 11.27 11.22 11.34 11.46 11.59 12.09 12.26 12.31 12.28 12.24 12.14 12.33

99.78 95.46 102.90 108.60 96.35 94.98 97.74 116.25 82.13 120.40 110.45 117.53 101.09 74.11 84.75 98.35

99.93 95.96 103.05 108.75 96.50 95.28 98.04 116.55 82.43 120.70 110.75 117.83 101.39 74.41 85.05 98.65

Maturity Date

TTM (Yrs)

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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

978.35 24.56 3.30 112.22 116.70 66.49

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

0.21 0.77 1.38 2.32 2.68 2.89

1.00 2.63 2.27 2.00 1.00 1.00

11.98 13.65 13.46 13.36 12.33 12.34

97.55 90.28 104.89 100.30 98.81 96.34

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

0.17 1.04 0.65 1.17 1.17 2.68 1.72 3.38 2.35 4.14 2.55 2.55 2.93 3.00 5.27 3.06 3.68 6.29 6.38 3.86 3.89

3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 2.74 1.00 1.00 1.94 1.44 1.95

14.15 15.50 14.23 15.57 14.59 16.92 12.31 13.18 13.16 12.49 12.33 16.11 12.34 12.34 12.71 14.08 12.42 13.03 14.00 12.89 13.40

99.87 97.19 99.63 98.70 101.34 85.52 102.40 102.15 101.85 104.74 104.77 95.98 105.08 107.89 106.68 101.63 106.53 101.92 104.07 104.73 104.65

07-Oct-14 18-Dec-14 31-Dec-14 17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 22-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 14-Nov-20

0.15 0.34 0.38 0.52 0.84 0.91 2.12 2.20 3.13 1.94 1.90 2.07 2.07 4.10 2.17 2.26 3.38 6.25

1.00 5.21 8.71 4.88 1.00 2.63 1.00 1.34 1.00 1.88 3.48 5.20 5.06 1.35 2.29 6.11 2.16 2.76

11.81 16.26 19.74 15.87 12.03 13.67 12.39 12.72 12.35 13.27 14.85 16.60 16.46 12.83 13.67 17.48 13.55 14.78

99.89 98.99 98.90 96.01 100.49 100.70 101.07 102.80 101.60 109.08 102.20 102.64 101.77 103.61 104.15 99.12 106.46 101.81

11-Feb-18

3.49

1.00

12.40

93.92

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

1,301.62

TOTAL MARKET CAPITALISATION

1,271.99

Sub-National Bonds A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A-/Agusto; BBB+/DataPro A/Agusto A-/GCR

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

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

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

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

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds A+/Agusto; AA/GCR Aa/Agusto Nil Bbb-/Agusto A-/Agusto BB+/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR BBB/GCR A+/Agusto; A-/GCR

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

6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00 14.96 11.13 27.00 17.28 80.00 28.37 11.40 87.00 5.00 4.78 4.79

484.10 489.84 11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020

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

11.50 13.50 17.00 10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 17.00 16.00 15.25

11.80 13.17 2.00 5.29 13.62 0.60 15.00 5.53 20.00 0.73 7.20 3.27 0.90 35.00 2.70 0.45 4.50 2.05

TOTAL OUTSTANDING VALUE

143.81

TOTAL MARKET CAPITALISATION

146.16

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

12.00

12.00 11.27 Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

4.75

4.60

111.00

111.87

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

3.94

3.73

104.23

105.01

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.07

4.96

109.25

110.10

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,622.37

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

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.71

2.96

111.45

112.64

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.66

3.89

104.70

106.04

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.17

5.90

99.38

100.35

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.03

6.41

100.59

102.30

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.69

8.11

94.33

96.08

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

7.88

7.11

107.35

109.33

ACCESS BANK PLC FIDELITY BANK PLC AFREN PLC ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.39

6.09

99.41

100.66

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

8.96

8.71

99.17

100.14

B/S&P; B-/Fitch

DIAMOND BANK PLC FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.26

6.56

103.42

105.92

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.00

5.10

104.41

105.89

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

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3,660.00 3,761.15

BUSINESS |FINANCIAL MARKET NEWS 39

Sanctity of Truth

Monday, August 18, 2014

Exchange builds capacity of market participants UPLIFTMENT Market operators get empowerment training

Stories by Chris Ugwu

n line with its mandate to broaden and deepen the Nigerian capital market, the Nigerian Stock Exchange (NSE) in partnership with Exchange Traded Funds providers organized a one day seminar for stock market operators. The Investment Management seminar tagged “Portfolio Construction – Beta Strategies” was organized by Vetiva Fund Managers Limited, Lotus Capital Limited and ABSA Capital, South Africa for stockbrokers,

portfolio managers, insurance companies, Pension Funds Administrators, institutional investors and some selected staff of the Exchange. Speaking on the seminar, Head, Product Management Department of The Exchange, Mr. Dipo Omotoso, explained that the training was designed to enlighten stakeholders on key areas such as using beta strategies in Portfolio Construction and the benefits of ETFs as an asset allocation tool. “The seminar also emphasizes the Exchange’s commitment to facilitate capacity building for market practitioners” he added. Participants in the one-day seminar were taken through topics such as “Passive Investment & Portfolio Benchmarking; Alpha Vs. Beta Strategies; Use of Exchange Traded Funds (ETFs) and their benefits as al-

AIICO reports 29% drop in H1 profits

IICO Insurance Plc has posted 29 per cent decline in profits during the half year ended June 30, 2014. In filing with the Nigeria Stock Exchange, the group’s net earnings dropped from N1.46 billion during the comparable period of 2013 to N1.13 billion in 2014. The company’s gross premium firmed up by 14.9 per cent to N14.612 billion in 2014 to N12.430 billion in 2013. The company's bottom line showed a 22.6 per cent improvement from N746 million in the first quarter of last year to N915 million at the end of March. The company has experienced a wide fluctuation in profit in recent years. Its loss position last year was a big fall from an after tax profit

of N1.32 billion in 2012. The loss happened due to major increases in claims and underwriting expenses, which rose by 60.8 per cent and 33.8 per cent respectively against an improvement of only 13.3 per cent in net premium income in the year. AIICO had recently partnered Guaranty Trust Bank (GTBank) to provide a seamless service that would enable the public renew their life policies for free This according to a statement from the company said the public can now renew their life policies at all GTBank branches in Lagos for free, adding that the partnership is to ensure a seamless process flow that guarantees stress free service delivery.

ternative investment vehicles in portfolio construction; ETF Regulatory Framework in Nigeria and Investor Protection Guidelines. The chief Executive Officer, NSE, Mr. Oscar Onyema, had said that the improved regulatory environment and performance of quoted companies from 2012 till date, has positively impacted on stock market prices and overall market indices. He said, “We have seen strong and improved participation

from foreign investors and local institutional investors, but local retail investors are not as active as they used to be. "It is also no longer news that we have adopted a zero-tolerance stance on dealing member firms and listed companies violations. We have proposed several rules to codify the accepted mode of engagement in our market. These rules are available on our new and improved website. Two of such rules that might be of particular interest

to you are our proposed Related Parties Transaction rule and rules around the conduct of AGMs. "We have also started building out a robust financial literacy program. Back in February 2012, we kicked off our financial literacy program as a first step in protecting investors. This program aims to enhance investors’ understanding of the basics of investing around portfolio construction, asset allocation and risk diversification.”

Diamond Bank Rights Issue: Shareholders seek extension

ome shareholders of Diamond Bank Plc have called for time extension to enable them take up their rights in the ongoing N50.37 billion rights issue the bank is raising for strategic projects. The call was made during the Shareholders’ Forum organised by the bank in Owerri, the Imo State capital to sensitise shareholders on the offer as well as encourage them to take up their share rights. The bank is currently offering three new ordinary shares for every five ordinary shares of 50 Kobo held as at close of business on 13 June, 2014. The bank rights issue opened from Wednesday, July 30 to Tuesday, August 26, 2014. One of the shareholders at the event, Prof. R. N. Echebiri of the Department of Agricultural Economics, Michael Opara University of Agriculture, Umudike, Abia State, said: “Diamond Bank is on a very progressive trend and I think that the Issue will help the bank make further progress. The bank already has a very promising balance sheet and the

Rights Issue is going to boost it further and increase its capacity to diversify its operations, so it is a welcome development. "Basically, the performance of the bank has been impressive and it is on top on all indices of performance. If fortune were not on its side the bank would have been scraped like others that went under. I will surely pick up my share and possibly ask for more.” Mr. Chikeronwu Ezekiel, another shareholder requested that management give consideration to people who wished to take up more shares than allotted to them. “In my case, I did not have much money when I bought these shares and currently belong to what may be considered as the bottom of the rung. Given the profitability of the shares in the last few years, my family has now pooled funds to increase our investment in the bank and we would like management to give us opportunity to buy more than the three shares offered us for every five we currently have.” Dr. Alex Otti, the Group Man-

aging Director/CEO, Diamond Bank, explained to the shareholders that the bank operated a diversified business model and is one of the top performing banks in Nigeria, ranking sixth in total assets, deposits and earnings; and second by returns on Investment. “Diamond Bank boasts a credible leadership with clear focus and an enhanced risk management approach that has returned the bank to profitability since 2012. The strong profitability and healthy balance sheet are testament to management’s commitment to continue to yield value for shareholders,” Otti said. Continuing, he said, “The bank has recorded significant growth from December 2013 to June 2014 with assets up by fifteen per cent and deposits up by eight per cent. The net interest margin is also strong at 7.1 per cent as at half-year 2014. In a fast growing economy such as Nigeria, the recent rebasing of the GDP to $510bn offers fresh imperatives for investment opportunities,” he noted.

FMDQ Daily Quotations List

15-Aug-14

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

**Treasury Bills

DTM Maturity Bid Discount (%) 13 28-Aug-14 10.50 20 4-Sep-14 10.55 FGN Bonds 27 11-Sep-14 10.30 34 18-Sep-14 10.50 41 25-Sep-14 10.50 Issuer Description Rating/Agency 48 2-Oct-14 10.65 55 9-Oct-14 10.50 9.25 28-SEP-2014 62 16-Oct-14 10.65 4.00 23-APR-2015 69 23-Oct-14 10.65 13.05 16-AUG-2016 76 30-Oct-14 10.50 15.10 27-APR-2017 83 6-Nov-14 10.20 9.85 27-JUL-2017 90 13-Nov-14 10.65 9.35 31-AUG-2017 97 20-Nov-14 10.20 10.70 30-MAY-2018 104 27-Nov-14 10.75 111 4-Dec-14 10.10 16.00 29-JUN-2019 NA NA 118 11-Dec-14 10.75 7.00 23-OCT-2019 132 25-Dec-14 10.80 16.39 27-JAN-2022 146 8-Jan-15 10.30 14.20 14-MAR-2024 160 22-Jan-15 10.35 15.00 28-NOV-2028 174 5-Feb-15 10.40 12.49 22-MAY-2029 188 19-Feb-15 10.40 8.50 20-NOV-2029 202 5-Mar-15 10.40 10.00 23-JUL-2030 237 9-Apr-15 10.10 12.1493 18-JUL-2034 251 23-Apr-15 10.25 265 10.15 TOTAL OUTSTANDING VALUE7-May-15 356 6-Aug-15 10.20 TOTAL MARKET CAPITALISATION *from the Amortising bonds, the average life is calculated and not the duration

Offer Discount (%) 10.25 10.30 10.05 10.25 10.25 Issue Date 10.40 10.25 28-Sep-07 10.40 23-Apr-10 10.40 16-Aug-13 10.25 27-Apr-12 9.95 27-Jul-07 10.40 31-Aug-07 9.95 30-May-08 10.50 9.85 29-Jun-12 10.50 23-Oct-09 10.55 27-Jan-12 10.05 14-Mar-14 10.10 28-Nov-08 10.15 22-May-09 10.15 20-Nov-09 10.15 23-Jul-10 9.85 18-Jul-14 10.00 9.90 9.95

Bid Yield (%) 10.54 10.61 10.38 10.60 10.63 (%) Coupon 10.80 10.67 9.25 10.85 4.00 10.87 13.05 10.73 15.10 10.44 9.85 10.94 9.35 10.48 10.70 11.09 10.42 16.00 11.14 7.00 11.24 16.39 10.74 14.20 10.84 15.00 10.94 12.49 10.99 8.50 11.04 10.00 10.81 12.15 11.03 10.96 11.33

Rating/Agency

Issuer

Agency Bonds AMCON NA

FMBN Modified Duration Buckets ***LCRM

TOTAL OUTSTANDING VALUE <3

3<5 TOTAL MARKET CAPITALISATION >5 Market Sub-National Bonds A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR

NIGER KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA

Description

1,037.39 1,130.79 812.11 2,980.28 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018

983.07 951.30 872.92 2,807.29

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

100.00 535.00 530.27 452.80 Tenor 20.00 1M 100.00 2M 300.00 3M 6M 351.30 9M 233.90 12M 600.00

28-Sep-14 23-Apr-15 16-Aug-16 27-Apr-17 Rate (%) 27-Jul-17 10.4754 31-Aug-17 10.8423 30-May-18 10.9372 10.9517 29-Jun-19 10.9685 23-Oct-19 11.3579 27-Jan-22

NITTY

Tenor

Rate (%)

OBB

12.00

Tenor

Bid ($/N)

Offer ($/N)

Valuation Yield (%)

Indicative Price

1.00

11.98 13.65 13.46 13.36 INDEX 12.33 12.34

97.55 90.28 104.89 YTD100.30 Return (%) 98.81

3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80

14.15 15.50 14.23 15.57 14.59 16.92 12.31 13.18 13.16

Spot O/N 12.25 7D Offer REPO 14DYield TTM (Yrs) Bid Yield (%) (%) Tenor Rate (%) 1M Call 11.92 2M 0.12 10.74 9.51 1M 12.75 3M 0.69 11.01 10.21 3M 13.41 6M 2.00 11.39 11.31 6M 13.84 1Y 2.70 11.29 11.23 2.95 11.34 11.27 NOTE: 3.04 11.34 11.22 :Benchmarks 3.79 11.44 11.34 * :Amortising 4.87 Bond 11.54 11.46 µ :Convertible 5.19 Bond 11.68 11.59 AMCON: Asset of Nigeria 7.45 Management Corporation 12.15 12.09 FGN: Federal Government of Nigeria 9.58 12.31 12.26 FMBN: Federal Mortgage Bank of Nigeria 14.29 12.35 12.31 IFC: International Finance Corporation 14.77 12.32 12.28 LCRM: Local Contractors Receivables Management 15.27 Aviation Handling 12.29 Company12.24 NAHCO: Nigerian 15.94 12.19 12.14 O/N: Overnight 19.92 12.37 Company 12.33 UPDC: UAC Property Development WAPCO:West Africa Portland Cement Company

162.00 Price 162.10 162.35 162.61 162.61 162.95 Offer Price Bid Price 163.22 163.58 164.35 165.53 99.78 99.93 165.64 167.27 95.46 95.96 169.33 172.95 102.90 103.05 177.07 184.05 108.60 108.75 96.35 96.50 94.98 95.28 98.04 NA :Not97.74 Applicable # :Floating 116.25Rate Bond 116.55 ***: Deferred 82.13 coupon bonds 82.43 120.40 120.70 †: Bond rating expired 110.45 110.75 117.53 117.83 101.09 101.39 74.11 74.41 NGC: Nigeria-German Company 84.75 Bank for Africa 85.05 UBA: United 98.35 98.65

4,660.39 Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN 0.00 BOND INDEX 978.35

35.02 33.89 31.09 100.00

15-Oct-09 31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11

Rate (%) 12.1250 13.0100 14.0603Date Maturity 14.7140

4,591.19

Issue Date

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

Tenor O/N 1M Outstanding 3M Value (N'bn) 6M

281.35 14-Mar-24 75.00 28-Nov-28 NIFEX 150.00 22-May-29 200.00 20-Nov-29 Current Price ($/N) 23-Jul-30 BID($/N) 591.57 162.4425 70.00 18-Jul-34 OFFER ($/N) 162.5425

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

NIBOR

Bonds

0.00 17.25 Weighting by Mkt 0.00/16.00 Value 0.00/16.50 0.00/16.50

34.81 37.94 27.25 100.00

14.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00

24.56 3.30 112.22 Bucket Weighting 116.70 66.49

1,301.620.35 0.34 1,271.99 0.31 1.00 6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25

Maturity Date

Avg. Life/TTM (Yrs)

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

0.21 0.77 1.38 2.32 Implied Yield 2.68 2.89

16.18 34.60 49.22 100.00

15-Oct-14 31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18

11.34 11.96 12.23 11.99

0.17 1.04 0.65 1.17 1.17 2.68 1.72 3.38 2.35

# Risk Premium (%)

1.00 2.63 2.27 Implied 2.00 Portfolio 1.00Price

118.3306 133.7288 102.3163 118.5690

1,123.90 1,132.36 1,193.60 1,126.28

96.34

12.3899 13.2365 19.3602 12.6279

99.87 97.19 99.63 98.70 101.34 85.52 102.40 102.15 101.85

Daily Summary as of 15/08/2014

Printed 15/08/2014 14:56:13.013

40 business | CAPITAL MARKET

Sanctity of Truth

Daily Summary as of 15/08/2014 Printed 15/08/2014 14:56:13.013

Daily Summary (Bonds)

Monday, August 18, 2014

No Debt Trading Activity

The Nigerian Stock Market Exchange as at August 15, 2014 Daily Summary (Equities)

Daily Summary (Equities)

Activity Summary on Board EQTY

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

Symbol OKOMUOIL PRESCO

No. of Deals 20 4 24

Current Price 36.47 37.00

Quantity Traded 100,689 11,850 112,539

Value Traded 3,550,142.46 433,610.00 3,983,752.46

Symbol LIVESTOCK

No. of Deals 24 24

Current Price 3.22

Quantity Traded 345,775 345,775

Value Traded 1,109,656.46 1,109,656.46

458,314

5,093,408.92

Quantity Traded 480 62,378,125 440,073 62,818,678

Value Traded 638.40 349,437,462.98 26,785,919.93 376,224,021.31

62,818,678

376,224,021.31

AGRICULTURE Totals

Daily Summary as of 15/08/2014 CONGLOMERATES Printed 15/08/2014 14:56:13.013 Diversified Industries

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

Symbol AGLEVENT TRANSCORP UACN

Daily Summary

No. of Deals 2 281 52 (Equities) 335

CONGLOMERATES Totals

335

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

Current Price 1.40 5.63 61.00

Symbol COSTAIN

No. of Deals 17 17

Current Price 1.20

Quantity Traded 342,249Page 342,249

Value Traded 1 396,163.86 of 12 396,163.86

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

Symbol JBERGER ROADS

No. of Deals 26 1 27

Current Price 65.00 8.46

Quantity Traded 88,774 200 88,974

Value Traded 5,690,180.63 1,776.00 5,691,956.63

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

Symbol UAC-PROP

No. of Deals 16 16

Current Price 16.50

Quantity Traded 185,490 185,490

Value Traded 3,061,344.30 3,061,344.30

Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC Real Estate Investment Trusts (REITs) Totals

Symbol SKYESHELT

No. of Deals 1 1

Current Price 100.00

Quantity Traded 963 963

Value Traded 96,300.00 96,300.00

617,676

9,245,764.79

Current Price 8.31 189.00 27.50 171.30 1.10

Quantity Traded 565,600 84,930 58,723 331,943 52,000

Value Traded 4,468,240.00 16,109,778.78 1,584,488.05 56,979,515.20 57,200.00

Page Quantity Traded 1,093,196

2 of 12 Value Traded 79,199,222.03

Quantity Traded 25,378 25,378

Value Traded 3,216,729.39 3,216,729.39

CONSTRUCTION/REAL ESTATE Totals Daily Summary as of 15/08/2014 CONSUMER GOODS Printed 15/08/2014 14:56:13.013 Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC

Activity Summary on Board EQTY

CONSUMER GOODS Published by The Nigerian Stock Exchange © Beverages--Brewers/Distillers Beverages--Brewers/Distillers Totals

61 Symbol No. of Deals CHAMPION 17 GUINNESS 50 INTBREW 15 Daily Summary (Equities) NB 118 PREMBREW 1

Symbol

No. of Deals 201

Current Price

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

Symbol 7UP

No. of Deals 18 18

Current Price 115.00

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC NATIONAL SALT CO. NIG. PLC UNION DICON SALT PLC. Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON UNIONDICON

No. of Deals 34 59 70 60 2 22 3 250

Current Price 7.50 8.94 80.90 4.12 0.50 9.87 14.11

Quantity Traded 310,896 2,222,948 228,821 3,255,505 1,971,492 2,327,317 50 10,317,029

Value Traded 2,311,080.40 19,982,771.58 17,588,323.56 13,115,176.51 985,746.00 23,240,666.99 670.50 77,224,435.54

Symbol CADBURY NESTLE

No. of Deals 42 42 84

Current Price 67.02 1,110.00

Quantity Traded 66,421 39,682 106,103

Value Traded 4,237,857.70 42,258,294.69 46,496,152.39

No. of Deals 13 2 15

Current Price 4.25 1.37

Quantity Traded 106,923 19,539 126,462

Value Traded 452,145.14 25,596.09 477,741.23

No. of Deals 38 31 69

Current Price 36.00 49.00

Daily Summary as of 15/08/2014 Food Products--Diversified Printed 15/08/2014 14:56:13.013 CADBURY NIGERIA PLC.

NESTLE NIGERIA PLC. Food Products--Diversified Totals

Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durableson Totals Activity Summary Board

EQTY

PublishedCONSUMER by The NigerianGOODS Stock Exchange ©

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

Symbol Daily VITAFOAM VONO

Summary (Equities)

Page

Symbol PZ UNILEVER

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC Daily Summary as of 15/08/2014 ECOBANK TRANSNATIONAL INCORPORATED Printed 15/08/2014 14:56:13.013 FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. Activity Summary on Board EQTY UNITY BANK PLC FINANCIAL SERVICES Banking WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

Symbol No. of Deals ACCESS 131 DIAMONDBNK 101 ETI 89 FIDELITYBK 76 GUARANTY 288 SKYEBANK 70 STERLNBANK 64 Daily Summary (Equities) UBA 143 UBN 43 UNITYBNK 11

Mortgage Carriers, Brokers and Services RESORT SAVINGS & LOANS PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Published by The Nigerian Stock Exchange ©

Quantity Traded 33,450,483 17,108,097 1,112,082 20,923,328 11,714,289 5,136,025 5,408,891 3,450,637 113,720 36,556,273

No. of Deals 19 274 1,309

Current Price 0.98 23.90

Quantity Traded 1,030,958 14,726,350 150,731,133

No. of Deals 36 25 7 1 4 1 1 4 11 23 1 7 1 2 3 5 55 187

Current Price 0.81 1.00 0.52 0.50 0.50 0.50 0.50 2.50 0.54 0.80 0.50 0.52 0.50 0.50 0.50 0.50 0.78

IT Services COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. TRIPPLE GEE AND COMPANY PLC. IT Services Totals Processing Systems Daily Summary as of 15/08/2014 Printed 15/08/2014 14:56:13.013 CHAMS PLC

Processing Systems Totals

ICT Totals

Activity Summary on Board EQTY

Published by The Nigerian Stock Exchange © INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC PAINTS AND COATINGS MANUFACTURES PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC PREMIER PAINTS PLC. LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers AVON CROWNCAPS & CONTAINERS Daily Summary as of 15/08/2014 BETA GLASS CO PLC. Printed 15/08/2014 14:56:13.013 Totals Packaging/Containers

Activity Summary on Board EQTY Published by The Nigerian Stock Exchange © NATURAL RESOURCES Mining Services Mining Services Totals

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. Daily Summary as of 15/08/2014 MOBIL OIL NIG PLC. Printed 15/08/2014 14:56:13.013 MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Value Traded Petroleum and Petroleum Products Distributors Totals

Value Traded SERVICES Automobile/Auto Part Retailers 322,705,418.28 R T BRISCOE PLC. 107,088,784.32 Automobile/Auto Part Retailers Totals 19,119,214.81 44,060,256.93 Courier/Freight/Delivery RED STAR EXPRESS PLC 340,038,760.82 TRANS-NATIONWIDE EXPRESS PLC. 15,916,116.27 Courier/Freight/Delivery Totals 11,504,284.02 25,172,995.67 Employment Solutions 920,910.30 C & I LEASING PLC. Employment Solutions Totals 18,278,136.50 IKEJA HOTEL PLC Value Traded Hotels/Lodging Totals Daily Summary as of 15/08/2014 1,008,292.73 Printed 15/08/2014 14:56:13.013 353,523,151.97 Printing/Publishing LEARN AFRICA PLC 1,259,336,322.62

Value Traded 1,259,108.00 Page 1,259,108.00

Symbol RESORTSAL UNHOMES

No. of Deals 1 1 2

Current Price 0.50 0.50

Quantity Traded 200,000 320 200,320

Value Traded 100,000.00 160.00 100,160.00

2,119 Symbol EVANSMED FIDSON GLAXOSMITH

No. of Deals 3 13 13

Current Price 2.26 3.01 63.50

388,262,345

1,582,320,668.46

Quantity Traded 8,735 385,821 14,910

Value Traded 19,741.10 1,164,143.10 952,234.35

Page

3,269,386.10

Current Price 0.55

Quantity Traded 500,000 500,000

Value Traded 275,000.00 275,000.00

Symbol CWG NCR TRIPPLEG

No. of Deals 2 4 1 7

Current Price 5.00 13.72 1.88

Quantity Traded 120 22,213 200 22,533

Value Traded 576.00 319,222.94 358.00 320,156.94

Symbol CHAMS

No. of Deals 1 1

Current Price 0.50

Quantity Traded 100,000 100,000

Value Traded 50,000.00 50,000.00

622,533

645,156.94

Daily Summary (Equities) Symbol

No. of Deals

Current Price

Quantity Traded

UNIVERSITY PRESS PLC. Printing/Publishing Totals Value Traded

42,844,784.68 of Road12 Transportation 208,339,939.00 ASSOCIATED BUS COMPANY Activity Summary on Board EQTY PLC 105,669.45 Published by The Nigerian Stock Exchange © SERVICES 5.00 Road Transportation 61,654.50 Road Transportation Totals 175.00 Transport-Related Services 75.00 AIRLINE SERVICES AND LOGISTICS PLC 527,940.00 NIGERIAN AVIATION HANDLING COMPANY PLC 457,924.60 Transport-Related Services Totals 1,695,525.00 830.50 Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC 330,790.72 Support and Logistics Totals 400.00 275.00 SERVICES Totals 65,100.00 1,000,000.00 EQTY Board Totals 2,164,545.10 217,595,633.55 Daily Summary of 15/08/2014 Activity as Summary on Board ASeM Printed 15/08/2014 14:56:13.013 OIL AND GAS 5 of 12 Petroleum and Petroleum Products Distributors ANINO INTERNATIONAL PLC. Petroleum and Petroleum Products Distributors Totals

Value Traded

Page

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM PAINTCOM PORTPAINT PREMPAINTS WAPCO

No. of Deals 77 11 21 33 63 8 12 2 50 277

Current Price 34.00 9.00 39.52 14.33 226.00 1.61 5.09 10.93 118.00

Quantity Traded 1,495,816 89,579 57,920 660,359 386,672 129,900 464,300 10,000 151,499 3,446,045

Value Traded 50,587,138.16 795,941.44 2,305,419.43 9,364,220.94 87,624,597.19 209,649.00 2,364,175.30 103,900.00 17,932,600.12 171,287,641.58

Symbol CUTIX

No. of Deals 5 5

Current Price 1.95

Quantity Traded 31,200 31,200

Value Traded 60,328.00 60,328.00

Symbol AVONCROWN BETAGLAS

No. of Deals 1 4 5

Current Price 1.69 17.11

Quantity Traded 337 42,320 42,657

Value Traded 596.49 752,920.00 753,516.49

3,519,902

172,101,486.07 Value Traded 75.00

287

Daily Summary (Equities) Symbol MULTIVERSE

No. of Deals 3

Current Price 0.50

Quantity Traded 150

Symbol

No. of Deals 3

Current Price

Quantity Traded 150

Value Traded 75.00

150

75.00

Page

Symbol JAPAULOIL

No. of Deals 41 41

Current Price 0.53

Quantity Traded 3,722,767 3,722,767

Value Traded 1,954,061.06 1,954,061.06

Symbol OANDO

No. of Deals 278 278

Current Price 26.69

Quantity Traded 2,675,109 2,675,109

Value Traded 70,671,361.42 70,671,361.42

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 114 25 84 71 39 12 345

Current Price 65.20 3.99 226.00 175.00 54.00 180.00

Quantity Traded 455,281 272,180 248,126 248,336 175,830 19,713 1,419,466

Value Traded 29,745,496.14 1,053,744.00 55,807,832.91 44,386,876.27 9,595,523.04 3,533,082.50 144,122,554.86

Current Price 695.00

Quantity Traded 21,083 21,083

Value Traded 14,295,645.69 14,295,645.69

Quantity Traded 1,259,108 1,259,108

Value Traded 3,530,297.57 5,091,706.67 64,079,002.30 3,057,547.85 261,324.08 13,298,334.98 14,711,230.84 104,029,444.29

1,157,209

249,370,144.04

Quantity Traded 3,511,649 Page 208,340,598 206,495 10 123,309 350 150 211,000 847,990 2,119,149 1,661 636,136 800 550 130,200 2,000,000 2,765,462 220,895,509

Quantity Traded 1,087,498 1,288,995 4,305,550 717,788 435,893 453,334 6,887,217 15,176,275

Value Traded 194,319.00 490,254.55 448,694.00 3,269,386.10

No. of Deals 1 1

Exploration and on Production Totals Activity Summary Board EQTY

Current Price 1.00

Current Price 3.25 3.98 14.85 4.25 0.60 29.15 2.16

Quantity Traded 120,380 438,163 189,200 1,157,209

Symbol COURTVILLE

12,823,994.42 Daily Summary (Equities) Exploration and Production Symbol No. of Deals 29,931,869.04 SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD SEPLAT 17 42,755,863.46

No. of Deals 12 12

No. of Deals 58 23 353 46 8 29 92 609

Current Price 1.60 1.12 2.27

NATURAL RESOURCES Totals

Symbol NPFMCRFBK

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 8 11 10 58

INDUSTRIAL GOODS Totals NATURAL RESOURCES Mining Services MULTIVERSE PLC

12,637,819 Current Price 9.74 6.21 17.22 2.03 29.10 3.12 2.10 7.20 8.11 0.50

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

Hotels/Lodging

Symbol WEMABANK ZENITHBANK

FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC.

Symbol MAYBAKER NEIMETH PHARMDEKO

HEALTHCARE Totals

INDUSTRIAL GOODS Building Materials

Quantity Traded 358,508 611,143 969,651

637

Insurance Carriers, Brokers and Services Symbol AIICO INSURANCE PLC. AIICO Published by The Nigerian Stock Exchange © CONTINENTAL REINSURANCE PLC CONTINSURE CORNERSTONE INSURANCE COMPANY PLC. CORNERST GUINEA INSURANCE PLC. GUINEAINS INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS LAW UNION AND ROCK INS. PLC. LAWUNION LINKAGE ASSURANCE PLC LINKASSURE MANSARD INSURANCE PLC MANSARD MUTUAL BENEFITS ASSURANCE PLC. MBENEFIT N.E.M INSURANCE CO (NIG) PLC. NEM NIGER INSURANCE CO. PLC. NIGERINS Daily Summary as of 15/08/2014 PRESTIGE ASSURANCE CO. PLC. PRESTIGE Printed 15/08/2014 14:56:13.013 REGENCY ALLIANCE INSURANCE COMPANY PLC REGALINS STANDARD TRUST ASSURANCE PLC STACO STANDARD ALLIANCE INSURANCE PLC. STDINSURE Daily Summary (Equities) UNIC INSURANCE PLC. UNIC WAPIC INSURANCE PLC WAPIC Activity Summary on Board EQTY and Services Totals Insurance Carriers, Brokers FINANCIAL SERVICES Micro-Finance Banks NPF MICROFINANCE BANK PLC Published by The Nigerian Stock Exchange © Micro-Finance Banks Totals

HEALTHCARE Pharmaceuticals MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

Page 7,838,425

681

9 of 12 231,043,623.03

Symbol RTBRISCOE

No. of Deals 12 12

Current Price 0.95

Quantity Traded 97,960 97,960

Value Traded 90,174.00 90,174.00

Symbol REDSTAREX TRANSEXPR

No. of Deals 8 2 10

Current Price 4.40 1.79

Quantity Traded 387,000 10,500 397,500

Value Traded 1,696,226.80 17,955.00 1,714,181.80

Symbol CILEASING

No. of Deals 2 2

Current Price 0.50

Quantity Traded 125,000 125,000

Value Traded 62,500.00 62,500.00

Symbol IKEJAHOTEL

No. of Deals 19 19

Current Price 0.79

Quantity Traded 2,122,522 2,122,522

Value Traded 1,654,696.58 1,654,696.58

Symbol LEARNAFRCA UPL

No. of Deals 13 8 21

Current Price 1.58 4.50

Quantity Traded 196,828 132,323 329,151

Value Traded 306,121.36 566,162.44 872,283.80

Symbol ABCTRANS

No. of Deals 4

Current Price 0.70

Quantity Traded 22,520

Value Traded 15,763.80

Symbol

No. of Deals 4

Current Price

Quantity Traded 22,520

Value Traded 15,763.80

Symbol AIRSERVICE NAHCO

No. of Deals 3 23 26

Current Price 2.10 5.00

Quantity Traded 12,500 414,551 427,051

Value Traded 26,540.85 2,082,861.97 2,109,402.82

Symbol CAVERTON

No. of Deals 9 9

Current Price 5.90

Quantity Traded 170,301 170,301

Value Traded 1,004,307.90 1,004,307.90

Daily Summary (Equities)

Page

Daily Summary (Equities)

Symbol ANINO

OIL AND GAS Totals

103

3,692,005

7,523,310.70

481,625,056

2,636,837,045.36

Quantity Traded 30,000 30,000

Value Traded 6,300.00 6,300.00

No. of Deals 27 27

Current Price 0.21

Activity Summary on Board ASeM

4,341

Daily Summary (Equities)

30,000 Page

ASeM Board Totals

30,000

Equity Activity Totals

4,368

481,655,056

6,300.00 11

6,300.00

2,636,843,345.36

Daily Summary (ETP) Exchange Traded Fund

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

Symbol NEWGOLD VETGRIF30

No. of Deals 1 7 8

Current Price 2,054.00 18.79

Quantity Traded 9 20,040 20,049

Value Traded 18,486.00 379,737.28 398,223.28

ETF Board Totals

20,049

398,223.28

ETP Activity Totals

20,049

398,223.28

Page

Sanctity of Truth

Monday, August 18, 2014

Ondo APC calls for bye-election in ex-speaker’s constituency Babatope Okeowo

Akure

pposition All Progressives Congress (APC) in Ondo State yesterday asked the House of Assembly to declare the seat of the immediate past Speaker of the Assembly, Hon. Samuel Ajayi Adesina, vacant. The APC in a statement signed state Publicity Secretary of the party, Mr. Abayomi Adesanya, accused the Labour Party (LP) government in the state of playing pranks with the destiny and the development of the people of Odigbo Local Government, where the late speaker hailed from. The Odigbo Constitu-

ency ll seat became vacant following the death of Adesina. He died in February and was buried in April. Already, the Peoples Democratic Party (PDP) has tasked the House of Assembly to write the Independent National Electoral Commission (INEC) over the vacant seat, which became vacant seven months ago. Chairman of PDP, Hon. Ebenezer Alabi, said the Assembly dominated by members of the ruling Labour Party (LP) should have written to INEC for the conduct of a by-election for the vacant seat of Odigbo Constituency ll if not that they are afraid of defeat. But yesterday, the

APC said: “There are series of complaints, petitions and protests as to why the Speaker, Hon. Jumoke Akindele, and the House of Assembly, refused to notify INEC of the vacancy of Odigbo Constituency ll for it to conduct bye-election to fill in the gap.” Abayomi noted that since the demise of the late Adesina, the Labour Party government has not deemed it fit to fulfill its constitutional responsibility by declaring the seat vacant to avail the people of the area the right and opportunity of choosing another person to represent them at the Assembly. APC said the government is afraid of losing

the election to the APC, because Odigbo Local Government is one of the strongholds of the party; thereby using delay tactics for the by-election before the 2015 general elections. In his reaction, Chairman House Committee on Information, Hon. Kunle Olujuyigbe, said the Assembly has concluded arrangements in respect of the vacant seat. Olujiyigbe said: “As far as the House of Assembly is concerned, we have done what we are expected to do concerning the vacant seat and we have duly notified INEC. I think at the appropriate time, INEC will call for stakeholders’ meeting and tell us the next line of action.”

Fayose, Adeyeye vow to lift Ekiti Adesina Wahab Ado-Ekiti

kiti State Governor-Elect, EMinister Mr. Ayodele Fayose, and of State for Works,

Prince Dayo Adeyeye, have reiterated their determination to work together to ensure rapid and sustained development of the state. Fayose and Adeyeye, who spoke during the thanksgiving service in honour of Adeyeye at St Mark's Anglican Church, Odo Ise, Ise-Ekiti, at the weekend, said the only way to appreciate God for what He had done was to use their positions to lift up the people. Fayose, who described the appointment of Adeyeye as minister as “well deserved” said; “I will join hands with Adeyeye to promote the interest of every Ekiti indigene at the federal level. “We will work very closely

for the betterment of Ekiti and its people and I want to assure you that the minister will not be the type that would not be readily available to his people. “Continue to pray for him, and when you pray for Adeyeye, you will be praying for Ekiti. It is my prayer that one day; very soon, he will become a substantive minister.” In his remarks, Adeyeye dedicated his appointment to God and thanked President Goodluck Jonathan, saying; “I thank the President for righting the wrongs done to me seven years ago, because my name was withdrawn from the Senate as a ministerial nominee on July 9, 2007. I was cleared as a minister by the Senate on July 9, 2014. I pledge my loyalty to the President not only now, but throughout his second term, which he will get by the grace of God.”

LP faction withdraws suit against Daniel

Kunle Olayeni Abeokuta

arring members of W the Labour Party (LP) in Ogun State yesterday

L-R: Son of Delta State Commissioner for Water Resources/ new couple, Rume Oghenechovwen; his wife, former Miss Chinenye Mbamala and Delta State Governor, Emmanuel Uduaghan, shortly after Oghenechovwen's wedding ceremony in Warri…at the weekend

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

1,153

The number of refugee and people in refugee-like situation in Syria assisted by UNHCR at the beginning of 2010. Source: Blatantworld.com

1:4

The estimated ratio of pregnancies that end in miscarriage. Source: Hopexchange.com

moved to resolving their differences ahead of the 2015 general elections as a faction of the party said it will withdraw a suit challenging former Governor Gbenga Daniel’s leadership of the party. The development followed the intervention of the Ondo State Governor, Dr. Olusegun Mimiko, and the LP National Chairman, Chief Dan Nwanyanwu, in the factional tussle rocking the party. A statement jointly signed by a factional Secretary, Sunday Oginni, and factional Financial Secretary, Abayomi Arabambi, said the aggrieved faction had commenced moves to withdraw the suit filed against Daniel. Oginni and Arabambi said they have officially written their counsel, Oluyede Delano, to discon-

tinue with the case at the Federal High Court, Lagos. They added that the party has also commenced moves to harmonise the state executive of the party. The two officials also appealed to party members that defected to other political parties during the protracted crisis to return to LP in a bid to oust the ruling All Progressives Congress (APC) in the 2015 general elections. The statement reads in part; “In a bid to end the crisis, our leader, Ondo State governor, Dr Olusegun Mimiko, the National Chairman of the party, Chief Dan Nwayanwu, among other members of the national executive, have ordered that the suit filed against ex-governor Daniel be withdrawn. “The party has officially written Oluyede Delano, the party’s lawyer, to hands off from the case and we have notified the Federal High Court in Lagos, through an affidavit, of our desire to discontinue the suit."

Political guinea pig: Ekiti PDP replies Awe Group educates women

Adesina Wahab

Ado-Ekiti

kiti State chapter of the Peoples Democratic Party (PDP) has described the allegation by the All Progressives Congress (APC) that it was used as a guinea pig by the PDP-led Federal Government to ensure victory for its candidate in the June 21 governorship election in Ekiti State, as lacking in logic. The PDP in a statement signed by its Publicity Secretary, Pastor Kola Oluwawole, in AdoEkiti yesterday, said the

APC was showing itself to right-thinking Nigerians as being made up of self-centred people, who would never see anything good in other people not sharing the same political belief with them. The PDP was reacting to the claim by Chief Jide Awe, the APC chairman, that Governor Rauf Aregbesola of Osun State was able to retain his seat in the August 9 election, because the PDP was unable to manipulate the poll like it did in Ekiti. However, the PDP said it was aware that APC’s stock in trade was to de-

base anything that did not politically favour it no matter how good or noble. “By now, we are sure that Nigerians, and even outsiders familiar with political developments in the country and who are not bought over by the propaganda machinery of the APC, would have seen the double speak and the double standard in the party. “APC is only interested in destroying whatever does not favour it. How were they used as guinea pig in Ekiti? Let them explain to the

world. The Ekiti election was adjudged credible, free and fair by local and international observers. “It is only the purblind eyes of APC leaders that could not see the election the way others saw it. Also, their reprobate minds could not comprehend, because they are heading for destruction. “They should be told to keep their 'gun powder' to prove how they were cheated in the election for their wilderness journey at the tribunal. We know that they are only going to self-destruct,” Oluwawole said.

omen in the marketing W profession in the country have been advised to

give priority to networking if they really want to succeed in their career. Former Managing Director of Africa Magic and Principal Partner, Biola Alabi Media, Mrs. Biola Alabi, gave the advice at the maiden edition of Women in Marketing Conference and Awards (WIMCA). The event, which held at the MUSON Centre, Onikan, Lagos, was sponsored by the world’s

leading Fast Moving Consumer-packaged Goods (FMCG) manufacturers, Procter & Gamble (P&G) Nigeria Limited in conjunction with Awesome Communications. Alabi said for any woman in the marketing profession to make it, the person must pay due attention to three basic principles - networking, courage/ boldness and focus. According to her, these are ingredients aspiring woman-marketers must imbibe as innate character if they must succeed.

46 NEWS

Sanctity of Truth

Monday, August 18, 2014

Ortom unfolds agenda Cephas Iorhemen

Makurdi

orried by the W backwardness and neglect suffered by his state,

Rev. Fr. Peter Azagba (right), giving the Holy communion on the palms of the Catholic faithful of St. Anne's Catholic Church, Odokekere in Ikorodu, Lagos, following a directive by the Catholic Bishops Conference of Nigeria (CBCN) to curtail further spread and transmission of Ebola virus…at the weekend

2015: Murtala’s son joins Kano governorship battle Muhammad Kabir KANO

urviving son of the late Head of State, General Murtala Mohammed, Abba Risqua Mohammed, has said that he is under intense pressure to contest the governorship of Kano State in 2015. Abba said the pressure was coming from various groups both in Kano and other parts of Nigeria, to take a shot at the Kano governorship race. He said: “Nearly on daily basis, calls kept coming that I should participate in the contest for the Kano highest seat, and on my part, I kept talking to people of great influence and political strategy, to advise me on

how best to answer these clarion calls.” Abba, who sometimes in 2003 and 2007, participated in the House of Representatives elections, but failed to Ghali Naaba, from Kano municipality, hinted that his political maturity has grown beyond what many saw then, when he brought to the fore, politics of respect and understanding. He similarly told newsmen at a mini-dinner he organised for journalists in Kano that his participation in politics is not ‘a do-or-die affair’ as he believes that only God gives power to any one he so wishes. “In other words, I’m saying that I have accepted to participate, because no one will turn away

The life expectancy (in years) at age 60 years of men in Ghana in 2010-2015. Un.org

calls of elders, more specifically many of whom were my late father’s friends and believers, so I will contest; but not with character assassination, I will show the way, politics should be a brotherly affair, which I know Kano is used to.” Abba further noted that his mission to contest the Kano State governorship seat is to make the state and indeed Nigeria, once more great and make it a place worthy of living with dignity and love, adding that Kano right now is yearning for serious presence of investors and investments for it to retake its lost commercial glory. “I will work in unison with people of like

50%

The percentage of water that is abstracted for energy production as cooling water in Western Europe and the USA. Source: Unesco.org

minds to make Kano great again, the dream of my father and many people that were close to him, and I have the know-how and techniques to do it, I have great ideas of how to make places great. “I have been an adviser to former President Olusegun Obasanjo, I’m matured enough to steer the ship of a great state like Kano,” Abba proudly said. It will be recalled that sometimes last month, a lobby group from across the state, staged a peaceful demonstration and workshop, calling for Abba to contest the Kano governorship election, a gathering that saw women, children and old people participating.

4,157

The number of passes made by Germany at the just concluded Brazil 2014 World Cup. Source: Fifa.com

a governorship aspirant in Benue State on the platform of the Peoples Democratic Party (PDP), Chief Samuel Ortom, yesterday said if given the mandate to be governor in 2015, he would initiate the establishment of three categories of industries in the state to boost its revenue. Ortom made this disclosure while speaking on a live interactive programme, “The Manifest” on Ashiwaves Radio in Katsina Ala, at the weekend. He said his administration would formulate policies for the establishment of small, medium, and large scale industries

Elumelu foundation donates N100m for Ebola containment in W/Africa Wale Elegbede s one of the efforts to curtail the outbreak of the Ebola virus in West Africa and Nigeria, business leader, Tony O.Elumelu,through his Tony Elumelu Foundation, has pledged N100 million towards the containment and relief efforts of this deadly disease across the region. In a statement issued by the foundation yesterday, the donation will be used to equip medical teams and the general response in all four countries involved, namely; Nigeria, Sierra Leone, Guinea, and Liberia. Elumelu believes that is imperative that one of the most populous nations in the world be ready and equipped with the necessary tools it needs to adequately combat this disease. "It is with great sadness that we are struggling with this epidemic. However, I am a firm believer that the private sector must play

presence of the EVD in the country. The NHRC boss, who is one of the speakers penciled down for the conference, said he has been under observation for the virus, because as an out-patient, he was attended to by one of the doctors who managed the index case, Patrick Sawyer, in Lagos, on the day after the Liberian was admitted into the hospital. In a public statement signed by Odinkalu, he said the NBA has a responsibility to defer its annual conference as it will be ill-advised to continue with the conference in the circumstances of the

present public health emergency in the country. “NBA conference is usually a very large gathering. Its venues usually attract well in excess of 20, 000 participants, traders and visitors. It’s an excellent market place for a virus in search of vectors. On 15 August, the NBA issued a public statement claiming that it “is putting adequate anti-Ebola precautions for its members attending the 2014 Annual General Conference in Owerri. "It failed to say what these precautions were or who said they were “adequate.” The most “adequate precaution”

Chris Ejim

YENAGOA

the NBA can take at this time is to defer the conference. It should do so. If the NBA declines, I would urge government at all levels to strongly request it to do so. “I am a scheduled speaker at the Owerri conference. I have also been a person under observation for Ebola, because as an out-patient, I was attended to on 21 July, by one of the doctors in Lagos, who managed the index case, that is on the day after he was admitted. The NBA has no way of knowing this and has made no effort to elicit this kind of information from any of the participants," Odinkalu added.

a major role in Africa’s development, which includes supporting our health care system, especially during a time like this when existing infrastructure is stretched,” stated Elumelu "The N100 million donation from the Tony Elumelu Foundation will be used to equip medical teams and the general response in all four countries. N50 million will go directly to Mr. Elumelu’s home country of Nigeria, while the remaining N50 million will be distributed to the governments of Sierra Leone, Guinea, and Liberia to support their efforts," the statement said. In response to the donation, President Alpha Conde of Guinea said, “I thank Mr. Tony Elumelu for this contribution and hope that his example will be followed by others. This contribution will be used to help strengthen the coordinated international efforts to stop the Ebola epidemic."

Bayelsa monarchs blame indigenes for travails

NHRC urges NBA to shift confab over Ebola scare T

Wale Elegbede he Chairman, Governing Council, National Human Rights Commission of Nigeria (NHRC), Dr. Chidi Odinkalu, has called on the Nigerian Bar Association (NBA) to defer its annual conference earlier billed for August 24 to 29 at Owerri, Imo State, over the outbreak of the Ebola Virus Disease (EVD) in parts of the country. He said the deferment would be the body’s contribution to the current measures taken to control and manage the public health emergency caused by the

through public private partnership in accordance with international best practices. The Minister of State, Industry, Trade and Investment pledged that government would provide the enabling environment for a private sector-driven economy that would boost commercial activities as well as create wealth and opportunities aimed at tackling unemployment and poverty. He reiterated his promise to rule with the fear of God, which he said would equip him with wisdom for statecraft and enable him provide transparent, accountable, selfless, just and fair leadership that will promote forgiveness, reconciliation and unity, resulting in accelerated development.

raditional rulers in Bayelsa State, who came together under the auspices of Swamp Area Oil and Gas Producing Communities’ Association, have revealed that indigenes of the state working with multinational companies are behind the neglect suffered by the state over the years. According to them, their sons and brothers working with the various oil companies are the ones making things difficult for the communities each time they approach the management of these multinational corporations operating in the Niger Delta. The association, which inaugurated its executive

corps at the Ijaw House in Yenagoa with an impressive turnout, however, recorded no presence of multinational companies. The monarchs, however, said they would not allow that to discourage them from achieving their objective of forming a formidable body that would protect oil installations from vandalisation, and other prevalent crimes in the area. Speaking to newsmen in Yenagoa, the Chairman of the body, Chief Victor Kurekigha Ighaba, said letters were sent out to the multinational companies as they also wanted to use the medium to discuss some oil-related issues affecting the area, but that they turned their back on them.

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Okorocha demands apology from Ihedioha, Mbaise community lI won't apologise, says deputy speaker ATTACKS

the annual new yam festival (Iri ji Mbaise) of Mbaise community, the state govSomeone has to find ernment has demanded from the oracle why an apology from Ihedioha, Imo governor is always who was also the chief host of the event and the entire at the receiving end Mbaise nation, over what government described as ‘unprovoked verbal attacks’ Steve Uzoechi on the governor. OWERRI Speaking through the Senior Special Assistant on ollowing last week’s Media to the Governor, Sam altercations between Onwuemeodo, government Imo State Governor, alleged that there was an Rochas Okorocha, and elaborate plan to embarrass the Deputy Speaker of the Governor Okorocha and House of Representatives, deny him the opportunity Chief Emeka Ihedioha, at of addressing the people at

the occasion. A statement signed by the governor’s spokesman reads: “After those attacks, and the fruitless effort made to prevent the governor from addressing his people, we have waited till Sunday, August 17, to see whether the Deputy Speaker of the House of representatives or leaders of the Mbaise nation, could be guided by the rules of decency to apologise to the governor for those needless attacks and actions, but all to no avail.” The statement also accused Ihedioha of using every opportunity, at the

occasion, to attack the governor, saying when the Deputy Speaker was handed kolanuts to present to visitors, instead of doing the simple task, he deviated to bluntly tell the governor how he would not return to office in 2015. “As if that was not enough, when Hon. Ihedioha was also called upon to address the audience, instead of using that opportunity to tell the crowd what he has been able to attract to his people for twelve years, he opened another round of attack on the governor, telling the

people how all the projects of the Okorocha administration were inferior.. According to the statement, government expects Ihedioha, leaders and traditional rulers of Mbaise to be decent enough to apologise over the unwarranted verbal assault on the governor. Reacting to the statement, however, Ihedioha, who spoke through his Media Aide, Chibuike Onyeukwu, made his position clear saying; “We owe Okorocha no apology; he should as a matter of fact apologise to the

Mbaise nation for defiling their festival.” Ihedioha denied claims that he did not welcome the governor properly; saying kolanuts were duly presented to the governor. The statement by Ihedioha’s spokesman reads in part: “Ihedioha was simply expressing the opinion of the Mbaise nation and indeed the totality of Imo people, who have rejected Governor Okorocha for his mis-governance of the state as reflected, for instance, in the lack of state government presence in the land.”

Reactions trail return of commercial motorcycles on Lagos roads Muritala Ayinla eactions yesterday continued to trail the sudden emergence of commercial motorcyclists, popularly known as Okada riders on hitherto prohibited roads in Lagos. The motorcyclists retuned to major roads across the state after Governor Babatunde Fashola, announced the reversal of the Lagos State University tuition fee to N25, 000. While some residents, especially the operators hailed the development, others blamed the government for its inability to enforce the Lagos Traffic Law 2012, which prohibits the operation of commercial motorcyclists in 475 major highways and bridges, accusing the government of playing politics with the lives of the residents because of the 2015 general elections. Fashola while signing the Lagos Road Traffic bill into law in August 2012 said the law was meant to restore sanity, security and safety in the Lagos transportation sector, lamenting that his administration could no longer condone the rate of lawlessness on

Lagos roads. He specifically bemoaned the rate of crashes and the series of armed robbery operations perpetrated by commercial motorcyclists, saying most auto accidents and robberies in the metropolis were carried out using motorcycles. But speaking on the return of commercial motorcyclists yesterday, a resident, Kazeem Adetona, who bemoaned the reappearance of the motorcyclists, said the development portends danger for the populace. According to him, government and security operatives may have much to do to beef up security and stem daylight robbery, which takes place across the state with the use of Okada. He said: “What kind of leadership do we have in this country? Why will government compromise our safety, security all in the name of election? Why can’t we have leaders that will stand by their policies? Why do they have to be jittery because of 2015 elections, President Barrack Obama of the United States stood by his ‘Obama Care’ healthcare policy throughout?

Mark mourns Aziza Chukwu David

Abuja

President, Senator Sedenate David Mark, has lamentthe death of General Patrick Aziza, who he described as a dependable colleague, a fine officer and a gentleman while he was alive. In a press statement signed in Abuja yesterday by his Chief Press Secretary, Mr. Paul Mumeh, the Senate president said the late Aziza was one of the best and fertile minds the Nigeria military has ever produced. He noted the positive contributions of General

Aziza to the development of the country, pointing out that the late military officer unarguably excelled in all assignments he handled. Mark added that even during the trying times in our nation's contemporary history, the late Aziza was among military officers, who stood to be counted on the premise that peace and unity of Nigeria must be held sacrosanct at all times. “He was one of our best; he stood for the unity and indivisibility of Nigeria. He demonstrated unwavering commitment to the nation, he was a patriot to the core,” Mark stated.

L-R: Oyo State Governor, Abiola Ajimobi; Caretaker Committee Chairman, Ibadan South-West Local Government, Mr. Taoheed Bolaji Adeleke and others, during the governor’s visit to Aleshinloye Market, after it was gutted by fire on Friday night

Future of education depends on distance learning – Provost

Tukur’s removal, best for PDP, says Aliyu

Kayode Olanrewaju rked by the state of conventional university system in the country, which has been described as “too expensive,” a professor of Comparative Grammar and the Provost of Michael Otedola College of Primary Education (MOCPED), Noforija, Epe, Lagos, Prof. Olu Akewusola, has said that the future of Nigerian education depends on Open Distance Learning (ODL). Akewusola, a professor of Comparative Grammar at the National Open University of Nigeria (NOUN) described open distance learning as cheap, flexible and affordable, noting that as a mass education programme, ODL is highly qualitative. The university don, who traced the problems confronting conventional university system in Nigeria to insufficient number of universities, said private universities came into existence in response to the gap created by lack of access to university education by applicants yearly.

Dan Atori

He said: “Today Nigeria has about 170 million people, but with how many federal universities. Look at Ghana with less than five per cent of Nigeria’s population has almost the number of federal universities in Nigeria.” Akewusola, however, blamed this on the people whom he said have decided to leave university education for the government in the name of free education without any plan to pay for their children’s university education. According to him, the Federal Government is no longer interested in establishing more universities, because parents and students do not want to pay. The provost will deliver the fourth inaugural lecture of the National Open University of Nigeria (NOUN), which is billed for Tuesday, August 19, at the Victoria Island main campus of the open distance learning institution. The lecture is titled: “Preserving Yoruba Language through Linguistic Vaccination of Comparative Grammar.”

MINNA

State Governor, Dr. Nyu,iger Mu’azu Babangida Alihas insisted that the de-

cision of the G-7 to remove former National Chairman of the Peoples Democratic Party (PDP), Alhaji Bamanga Tukur, was designed to save the party. Aliyu, whose reaction was contained in a signed statement by his Chief Press Secretary, Mr. Israel Ebije, said his call on Tukur to always avail himself at all time for the PDP has been doctored from its main focus, which was aimed at encouraging unity and commitment of party members. He said the fact that PDP needs to properly stabilise does not mean it is not by far better than it was under the Tukur leadership. He said the party must, however, be encouraged to remain committed as the 2015 elections beckon. He added that his position offers no justification for the erstwhile national chairman’s impunity and disregard for due process

that tore the party apart while he was national chairman. “I don't think it is wrong for me to call on Bamanga Tukur to remain committed to the PDP regardless of what transpired before and after he was removed as PDP national chairman. My position was not meant to offer him any form of justification, but to spur party members to work harder towards excellent performance at the polls in 2015. "Let me once again insist that the impunity within the PDP leadership would have wrecked the party. Today, the party has stabilised, but we must all join hands to ensure that some challenges within the party are addressed to make it more formidable.” The Niger State governor said politics should be about democratisation of ideas, institution and policies towards getting the best out of the people. He said it would also help in getting the best in delivery of democratic dividends and not about justifications for doing the wrong thing.

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Why some businesses succeed and others fail

he aim of every person going into business is to succeed. Every entrepreneur wants to make profit although at various levels. Some to survive and pay the owner’s a living wage, some to pay its owners a wage equal to what they would earn by providing the same services working for someone else, others to pay its owner/ investor wages as well as repay its investor for their risk at a level commensurate with the risk level and finally some would include all of the above and also create wealth. All of these for many entrepreneurs should be coupled with satisfaction, self worth & a sense of identify and comfort. All of the above are achievable as proven by many entrepreneurs and for others it had been a sore experience as their expectation had either been dashed completely or their businesses functioning at a level far below the desired mark. Whatever the case may be, some ingredients that have made or marred businesses in developing economics are identified in the next few paragraphs and it is important to note that developing economics differ in a lot of ways from developed economics and therefore principle that work in these two economics would a lot of time differ based on their varying peculiarities.

•Relevance of the product or service It is amazing to know that a lot of businesses that exist today are no longer relevant or unable to meet up with the demands of the ever changing world. That a business or service was sellable in the 90’s, does not assure the same for such business in the 21st century as many things have change between then and now. This is the reason why many inherited or generational businesses have found it hard to survive through time especially in developing economies. Remember that developing is a present continuous tense implying some level of consistent change as against developed wish is pasted tense implying stability & consistency. Therefore a business in a developed economy can stay strong for ages while similar businesses in a developing economy may experience otherwise. Staying relevant at all time The key to staying relevant and hence ensuring continuous sustainable success which is the true definition of business success is to operate in dynamism, staying abreast and keeping passé with the fast changing 3rd world economy. This could mean organizational restructuring, product remodeling, expanding or contracting services, relocation,

in the business world. Adequate finance implies the ability to get necessary stocks and needed resources that would attract customers especially in retail business, it also implies ability to recruit and maintain the best of human resources whose input and expertise would bring about business growth. In developing economies, young businesses find it difficult to assess loans and even when available, interest rates are usually unbearable. This simple factor accounts for about 69% failed and successful businesses today. Ogbeide

acquiring additional expertise or even changing the business completely before it crashes. Do what you need to ensure that your relevance level does not drop below 80%, otherwise you may just be on your way out of business success into the arena of the undesirable. •Capital & Capital Management The word capital refers to all materials, non-material and human requirements/ resources upon which the business is established and runs. A business would either succeed or fail depending on the capital available for its start off and sustenance. Finance which is a major determinant for other capitals is a key player

•Capital Management It is however important to note that amidst all these difficulties ties to capital development in the 3rd world economy, many businesses have survived and today stand strong. The secret behind it is capital management. Your ability as an entrepreneur to effectively manage the available resources to meet business needs can give you an edge in the waving storm. Learn financial management, learn human resource development ( you don’t need the best of hands, you can develop the available personnel to become competent), learn to delay gratification, learn to adopt the most cost effective approaches to meet business needs spend extra time whenever needed e. t. c. You can use what you have

to get where you need to so you could get what you desire. •Location: In a previous article, I had explained the importance of location to a business. Your location counts a big deal when it comes to success or failure business wise. Location can determine the demand for your products, cost of transportation, cost of labour and even the nature of customers you get; Making your location work for you This may require relocation, if and when possible or restructuring your organization to fit into the strength of your location. •Organizational and management structure. When loop holes exist in the accounting or customers relations, there is higher tendency for business failure. The extent to which staffs take responsibility and are motivated can influence business outcome. In conclusion, your business has the inherent potential to succeed and would succeed if the following listed factors are adequally harnessed. Get them right and see your business fall into places for success. Ogbeide, is a business consultant, columnist and MD / CEO of Business Builders Limited. He can be reacted via email excelogbeide@yahoo.com

global NEWS

India, Singapore firms invest $51bn in markets

ndian and Singapore businesses lead in investing in each other’s markets, tapping on business growth potential, having committed $51 billion. Singapore was India’s largest investor last year with $5.98 billion, or a quarter of the inflow, and $26 billion accumulatively since 2000, reported Tabla!, an English language weekly in Singapore on Friday. Comparatively, Indian companies have made accumulative investment of close to $25 billion in Singapore, said that the tabloid in a report on 50 years of India-Singapore Diplomatic relations. "The Indian Foreign Direct

Investment(FDI) into Singapore has grown at a whopping compounded annual growth rate of 381 per cent since 2005," said Anil Kishora, country head and Chief Executive Officer of the State Bank of India in Singapore. The investment was especially boosted by the India-Singapore Comprehensive Economic Cooperation Agreement signed in 2005. The tabloid pointed out that Indian investment in Singapore has surpassed China's US $14.2 billion during the same time. Some 6,000 Indian companies are registered in Singapore at the latest count, making it the largest business community in the city state. Two years ago, the number

was 4,000, according to Indian businessmen. Tata Group’s activities in Singapore today are a microcosmic representation of its US $100 billion ventures across 100 companies worldwide, said K V Rao, Tata's Singapore-based resident director for the Asean region. Analysts said Indian companies see a growing inter national business opportunities to be in Singapore, especially using it as a platform to venture into the region and the world as they globalize. Singapore is a major routing point for setting up holding companies that are used for international investment in Asia or globally, as it is an international

financial centre with easier financing and refinancing schemes. "In fact, Singapore has emerged one of the preferred offshore financial centres for Indian corporates to set up Special Purpose Vehicles/ Companies (SPVs)," said Kishora. Among leading deals done by Indian corporations in Singapore is the Bharti Airtel Ltd's acquisition of telecommunication businesses in Africa and Bangladesh. Singapore-based subsidiary Bharti Airtel Holdings acquired Zain Africa International BV through a company in the Netherlands and expanded to 15 markets in the African continent.

Smuggling syndicates hit Nestlé business

ampant smuggling of food products into the country by an underworld network with military links is threatening to put Swiss-headquartered global food and beverages giant Nestlé’s local operation, Nestlé Zimbabwe, out of business as it is undercutting the company through substantially less than fair value prices. The smuggling syndicate, connected to powerful military figures in Zimbabwe, are illegally importing and selling various products, including

dairy ones, at lower prices, making Nestlé unable to compete as it produces on an unsustainable high-cost structure, while reeling from a liquidity crunch and an overvalued exchange rate in a multi-currency regime. As a result of various economic factors, including smuggling, Nestlé has been contemplating scaling down or closing because continuing to operate under the current circumstances is counterproductive and uneconomic.

Nestlé’s brands include baby foods, bottled water, cereals, chocolate and confectionary, coffee, culinary, chilled and frozen food, dairy products, drinks, food, health nutrition, ice cream and pet care. Besides economic and smuggling problems, Nestlé has since 2009 been facing political hostility linked to President Robert Mugabe’s Gushungo Dairy Estate. The impact of smuggling by the top military brass forced Nestlé management to

write to government seeking intervention. It has considered the option of downsizing or closing down. In a letter to Industry and Commerce minister Mike Bimha, copied to Finance minister Patrick Chinamasa and Industry and Commerce permanent secretary Abigail Shonhiwa dated August 8, Nestlé managing director Kumbirai Katsande said “irregular imports” were damaging the company and investment prospects.

Chinese team to visit India for multi-billion dollar industrial parks

high-level Chinese delegation will visit India this month to finalise plans for multi-billion- dollar investments in Industrial Parks as the official media here highlighted Prime Minister Narendra Modi's call to global business community to invest in India. 'Modi urges world to manufacture in India,' state-run Xinhua news agency headlined its report highlighting Modi's call at the Red Fort today to "come, make in India. Sell anywhere, but manufacture here. We have the skill and the talent." Modi also reiterated his prepoll promise of creating jobs and attracting investment, saying his priority would be "people, private partnership," the report said. An 18-member delegation comprising top Chinese investors and industrialists are scheduled to head to India on August 18 to make a final visit to some of the sites offered to set up Chinese Industrial Parks, officials told PTI here. The delegation would visit Delhi, Gujarat and Mumbai. India and China have already signed MoU which outlined the work to set up four such industrial parks to rebalance the ballooning trade-deficit averaging over $35 billion a year.

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Higher capital’ll strengthen operators’ liquidity base, says Olugbemi Mr Bayo Olugbemi is the President/Chairman of the Council, Institute of Capital Market Registrars (ICMR) and Managing Director/Chief Executive Officer, First Registrars Nigeria Limited. In this interview with Chris Ugwu, he bares his mind on the new capital requirement for market operators and other issues affecting the economy. In your capacity as a financial manager, how well do you think sovereign wealth fund should be managed to pull the economy? Honestly I don’t know whether there is any controversy, because I believe that the sovereign wealth funds were properly set up by the act of Parliament and the funding that should be done has been done. Of course, there are investment guidelines and unless if the investment guidelines have not been followed, then there is an issue. To me, there is no issue, I think so far so good, unless we want more funding, but based on what is done so far, I don’t think there is an issue. It took a lot of negotiations, a lot of politicking before it was accented into law. How has that affected the economy? There is always the problem of implementation; I mean the political will to implement our plans, be it long term or short term, I think our major problem has been the political will to implement. We always have good vision but action towards getting it implemented has been a kind of lip service. If the political will to do is developed today, we might not be able to meet 2020 but would have gone a long way. In recent times, we have seen some semblance of infrastructural development or renewal, we have seen what is happening on Ibadan Expressway, and we have seen what government has done with PHCN, the unbundling of power sector. NITEL is positioned to be sold as planned. We may not be able to meet (vision) 2020 but we may not be too far from it if we have the political will to implement. How has insurgency affected investment in the country? Recall that towards the end of Obasanjo’s regime, many things were done, but unfortunately they were also reversed, refineries were sold, it was reversed. I think one of the best things that have happened to us is the unbundling of the power sector. I always said that government has no business in business. The only business is to provide the enabling environment and a platform for business to thrive. Presently they have other is-

sues to battle, such as insurgency and the new health challenges. We will continue to pray and also put actions to our prayers. When there is insurgency or war, it always has a backslash to the economy. The money you would have used to do other things will now be redirected to rebuild. Remember after the Nigerian civil war, government came up with a programme of rehabilitation, reconciliation and reconstruction. Presently, government has also set up fund for those areas that were affected by the insurgency. Some people are lily-livered, if I may use that word, I don’t blame anybody because people’s money and lives are involved, so anybody who is saying that he won’t come to Nigeria for safety reasons because of insurgency is right. I think the Federal Government should step up the fight to take the bull by the horn. For foreign investors to come to Nigeria, they look at the figures, ordinarily if the figures were not right they won’t come. Because of infrastructural deficiencies, there is a lot of corruption, there is a lot of apathy. So there are enough reasons why we won’t get foreign direct investment, but because the figures are right. They take the risk because they know that the gains far outweigh the risks. But now, with the security challenges, people want to think twice before they take position, nevertheless, we still have some people who are still coming though the frequency or the rate might not be ordinarily what we expect. In your capacity as president of the Institute of Registrars, what is the state of unclaimed dividend in the country? I will tell you that unclaimed dividend is a moving thing, because as company declared, it is being paid. But for the umpteenth time, I will define unclaimed dividend. Unclaimed dividends are dividends not cleared, not presented, not claimed by the shareholders 15 months after declaration. That’s according to CAMA; dividend will not become unclaimed until a year and three months after declaration. We have been hearing a lot of figures and there has been a lot of wrong definition of what is an unclaimed dividend. Some take it that

Olugbemi

Here in First Registrars, we have developed a product called first dividend prepaid cards. The card is like ATM cards or debit cards, if you subscribe to it, we load your dividend into that card, even if you don’t have an account, you can go to ATM. POS or even at the web to cash your money dividend became unclaimed after six months, but it does not until after 15 months. You see I can’t give you an absolute figure, but I can give percentage, whether is

N50 billion, N45 billion or N70 billion as some people claimed. As I always say, I stand to be corrected or be challenged by anybody. As at today, it is just about five per cent. Quote me anywhere, I stand to be challenged, I stand to be faulted, and anybody can come and counter it. Ten years ago it was about 25 per cent, somebody will tell you that unclaimed dividend ten years ago was about N7 billion or less, N7 billion of how much? Ten years ago, Dangote was not quoted, today Dangote pays hundreds of billions as dividend, ten years ago First Bank hardly pay N1.5 billion as dividend, today it pays about N32 billion, ten years ago, a lot of companies that are quoted today were not quoted, they don’t pay dividend but today they pay billions of dividends, so all said and done, even at that, if compared with the last ten years, you will see that we have at least five per cent unclaimed divided. That is not to say that we have done well, that is not to say that there should be any at all, but what am trying to say is that we have

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Monday, August 18, 2014

BIODATA Education Experience: BSC Accountancy, University of Lagos MBA in Business Administration, Lagos State University Msc. Corporate Governance, Leeds Metropolitan University, United Kingdom Advanced Management Programme (AMP 179), Harvard Business School Work Experience: Managing Director/CEO, First Registrars Nigeria Limited President/ Chairman of Council, Institute of Capital Market Registrars (ICMR) Fellow, Chartered Institute of Bankers of Nigeria (CIBN) Fellow, Institute of Directors (IoD) Years of Experience: 34 years

moved forward. We have N7 billion or N10 billion in 2001 and 2002, it was about 25 per cent of dividend declared but today, N60 billion, as the case may be, it is just about five per cent. About a year or two ago, it was about seven per cent, as at the last time we computed it in March this year it was just about five per cent. Globally some have seven per cent, three per cent, some four per cent. In as much as am not saying that we should be given a pat on the back, I think we have moved forward from what it used to be. Again, with the CBN policy that you cannot claim dividend of more than N10 million by cheque, automatically as a shareholder who will claim such, you have to give us your account mandate to pay it in. I can tell you some of the bonds that came up about a year or two years ago, 100 per cent was claimed because everything go to their banks. The one that we have issued are the old ones, as soon as shareholders give their banks mandate, we try to look at even the ones in the past and pay. And that’s what is actually helping us to reduce the unclaimed divided. Like here in First Registrars, we have developed a product called First Dividend Prepaid Cards. The card is like ATM cards or debit cards, if you subscribe to it, we load your dividend into that card, even if you don’t have an account, you can go to ATM. POS or even at the web to cash your money. And another thing CBN has done that is laudable is that it will not reject dividend if it is paid into a savings account. So we encourage shareholders that savings accounts will be accepted if it is e-dividend. CBN, the banks and registrars have gone a long way to ensure that unclaimed dividend is reduced; it is now left for individual shareholders to take advantage of it by collecting forms from registrars. We have had cases where shareholders got alert while the AGM is being held. So it is easier to get your dividend via e-payment if you subscribe. What are registrars doing to advance the enlightenment, especially for those in rural areas? We communicate with them through

Though partnership in Nigeria is tough, we always want to do it alone, but if you want to go faster, go alone, if you want to go far, go with other people

advert in newspapers and even make use of radio giggles. In fact, we are planning shareholders’ investment matters that will be an interactive radio programme. We want to go through about three or four radio programmes and it will be like phone-in programme. The acceptance of e-dividend were low initially, but it is getting better now because people have realised that it is better for them to do it and get their money very quickly than waiting for months. What is your take on the current capital requirement for market operators? I can tell you as a registrar that when the idea was mooted over five years ago, we did our own; we are even more than what they are asking for now. And most registrars have been able to cross the Rubicon, if there was any one at all. I always advise that there is room for mergers and acquisition. What the regulators are doing is to strengthen the liquidity base of operators. I believe that I rather be a one per cent owner of a living company than be a 60 per cent shareholder of a dying rated company. There is nothing wrong in mergers and acquisition. Though partnership in Nigeria is tough, we always want to do it alone, but if you want to go faster, go alone, if you want to go far, go with other people. Looking at your company five, ten years, and you are not satisfied, take the option of synergy, merge, acquire, if you can’t do it alone, call others to come and join you because together the better, the more the merrier. We encourage people to go into merger and acquisition if they cannot do it alone. SEC has said there is no going back. What is the implication of foreign investors’ dominance of the stock market? The implication is the same thing with what we experienced in 2008. Foreign investors are here for business and if they are not comfortable, they exit and when they offload, the market will crash because they dominate the market. Foreign investors are trying to rearrange their portfolio especially now that the election is coming up. I think it is better for domestic investors to have higher stake than foreign investors because whatever happens, they will remain in their country. Domestic investors’ low memento is because of what happened in 2008. People are still recuperating and some are still in coma and others are dead while they are still alive because all their live savings are gone. For example, some people invested in Bank PHB and Afribank, among others, they were encouraged to invest, but government woke up one day, because some people have messed up, denied everybody their investment. It is not fair, if you want to punish the executive directors who mismanaged the banks, why then punish retail investors. There should be a way out. I agree that when you invest in stock market, you are taking risk. However, I have seen banks being taken over before even in this country, including Alfa Merchant Bank. The shareholders were not asked to go to hell, what government did was to first pay the creditors, when they are still recovering from the debtors or selling their property, they begin to pay the shareholders; that was what is called dividend per number of shares you have. I remember Alfa, we acted as the pay agent for their shareholders after they might have paid all their creditors. But in the case of Bank PHB, Spring Bank and Afribank, government took the bank away from the shareholders and asked them to go to hell. And you want them to come back and invest tomorrow. I thank God for SEC for coming up with investors’ confidence committee, they are working and I don’t know how far they have gone and how far they can go to assuage the feelings of the people whose lives have been destroyed by government. Government should review that decision of destroying peoples’ lives.

Olugbemi

44 business | global NEWS

Sanctity of Truth

Monday, August 18, 2014

UK economic growth revised up to 3.2%

he United Kingdom economy grew by 3.2per cent in the second quarter compared with the same period last year, slightly higher than the original 3.1per cent estimate. But the Office for National Statistics' second estimate of growth in the April-to-June period left the quarter-on-quarter figure unchanged at 0.8per cent. The construction sector performed better than previously assumed. The figures confirm the UK economy saw its best economic performance for six years and has passed its 2008 peak. The services sector - which accounts for around 78per cent of UK economic activity - grew 1per cent in the second quarter, the ONS added. In June alone the services sector expanded by 0.3per cent. compared with May. The annual growth rate in the sector, 3.6per cent, was also its best per-

formance in just over six years. The ONS preliminary estimate is based on about 40per cent of UK economic activity. The second estimate gives a more complete picture of economic growth. Output in production grew 0.3 per cent in the quarter, but agriculture contracted 0.2per cent. Construction was flat in the period but this was an improvement on the original estimate that it had contracted by 0.5per cent. On an annual basis construction was estimated to have expanded by 4.8per cent. Construction accounts for 6.3 per cent of economic activity in the UK. Consumer-led. Meanwhile, the services sector saw "widespread growth" the ONS said, with increases in each of the four main sub sectors: business services and finance; distribution, hotels and restaurants; transport, storage

& communication; and government and other services. The services sector is now 3per cent above its previous peak in the first three months of 2008 suggesting the UK's economic recovery is still being led by consumer spending. In contrast UK manufacturing output is still 7.5per cent below

its pre-recession peak. Separately, the ONS said business and financial services expanded by 4.3per cent in June, distribution, hotels and restaurants increased by 4.8, government and other services grew by 1.9 per cent and transport, storage and communication increased by 3.4 per cent.

Chris Williamson, economist at economic forecaster Markit, said the ONS data combined with more recent economic surveys pointed to economic growth of 0.7 per cent in the third quarter - which would suggest an overall expansion of 3.5 per cent in GDP in 20154 overall.

US stocks fall as Ukraine tension boosts haven demand

S stocks fell, trimming a weekly gain for the Standard & Poor’s 500 Index, after escalating tensions in Ukraine boosted demand for haven assets. It was learnt that Nordstrom Inc. sank four per cent after reporting sales that missed analysts’ estimates. Monster Beverage Corp. soared 29 per cent after Coca-Cola Co. agreed to buy a stake in the company. Applied Materials Inc. jumped 5 per cent after forecasting sales that may top analysts’ estimates. The S&P 500 fell 0.2 per cent to 1,950.51 at 11:23 a.m. in New York, erasing an earlier advance of 0.5 per cent. The Dow Jones Industrial Average slid 66.34 points, or 0.4 per cent, to 16,647.24. Trading in S&P 500 (SPX -0.37per cent) stocks was 16 per cent above the 30-day average at this time of day. The yield on the 10-year Treasury note sank eight basis points to 2.32 per cent, the lowest since June 2013. “You saw the market drift up because it appeared that things had quieted down a little bit, but this Ukraine headline changes that,” Walter Todd, who oversees more than $1 billion as chief investment officer for Greenwood, South Carolinabased Greenwood Capital Associates LLC, said in a phone interview. “The move highlights the sensitive and reactionary nature of markets right now.” Ukrainian troops attacked and destroyed “part” of military column that entered country from Russia through rebelheld border post of Izvaryne, Andriy Lysenko, spokesman for Ukraine’s military, told reporters in Kiev. The government earlier said Russia is still supplying rebels in the eastern part of the country with equipment, while NATO said it sees a continuous flow of Russian weapons into the region.

Russia’s Foreign Ministry said in a website statement that it’s getting information of direct threats to a convoy of trucks sent by the Kremlin to provide humanitarian aid to eastern Ukraine. Nigeria’s Dangote Cement firm eyes Middle East, Latin American markets. Nigeria’s Dangote Cement company will expand its cement production plants to the Middle East and Latin American countries, Mr Sunday Adondua, the Deputy General Manager in charge of Production at the company’s plant said on Friday. Adondua said the company was optimistic that the planned investment would propel it to be ranked among the top 10 global cement manufacturers and also earn Nigeria foreign exchange. He added that the company was currently operating in fourteen African countries and would soon move across the continent to other continents, adding that by the time we have consolidated our hold in Africa markets, we shall go beyond the borders. Specifically, we are targeting the Middle East and Latin America. The idea is to be a world leader in cement production, he said. Adondua revealed that the company had cement plants in South Africa, Cameroun, Zambia, Kenya; Senegal, Tanzania and Ethiopia and that it was planning to start a plant in Guinea Bissau, Mauritania and that the company is also planning projects in Gabon. Mr. Armando Martinez, the plant’s director noted that Aliko Dangote was creating employment across Nigeria and the African continent and that Dangote is the biggest investor in Africa and his investments are long term investments that can attract lots of foreign exchange earnings for the host country and the continent of Africa.

Shake Shack Chief Executive Officer Randy Garutti (L) and Goldman Sachs Group, Inc. Chairman and Chief Executive Officer Lloyd Blankfein participate in a panel discussion during the White House Summit on Working Families in Washington.

Exxon ends South Sudan oil plans with Total

xxon Mobil, the United State’s largest oil company, has ended exploration plans with Total in South Sudan, Total and the government said — a sign of faltering investor confidence in the nation as a civil war enters its eighth month. In April, Exxon did not renew an agreement with Total to negotiate for joint-exploration over parts of a 120,000km² concession in Jonglei state, Total spokeswoman Anastasia Zhivulina said on Tuesday in an e-mailed response to questions. She said Total was still bidding to explore in partnership with Kuwait’s state-owned Kuwait Foreign Exploration Petroleum Company. Exxon spokesman Patrick McGinn said by e-mail that the company does not comment on

specific ventures. "Losing the American oil company’s interest is definitely a blow for the future prospects of South Sudan’s oil industry," Luke Patey, a researcher on the country’s industry at the Danish Institute for International Studies, said in an e-mailed response to questions. Patey said that Exxon could re-enter South Sudan when security improved. Crude oil output, South Sudan’s almost sole source of revenue, has fallen by at least a third to about 160,000 barrels per day since conflict erupted in December and the army battled rebels in two oil-producing states. The conflict — which has left thousands dead — led to the evacuation of some staff by the country’s main oil producers including China National Petro-

leum Corporation and India’s Oil & Natural Gas Corporation. Petroleum Ministry spokesman Nicodemus Ajak Bior said in an e-mail he was aware of Texas-based Exxon’s "pull out". Paris-based Total has held the Block B concession in Jonglei state, near South Sudan’s eastern border with Ethiopia, since 1980 when it was part of a united Sudan. Recurrent violence has hampered exploration and there have been no proven oil finds. In September 2012, the government divided the block into three. Exxon is pulling out of its agreement to jointly-explore two of them, Ms Zhivulina said. The outbreak of war in South Sudan meant Total and the Kuwaiti company’s October offer for Blocks 1 and 2 has not been approved by the government.

Coca-Cola buys stake in Monster Beverage for $2b

oca-Cola is hungry for even more caffeine: six months after announcing it would acquire a stake in Green Mountain Coffee GMCR +0.24 per cent, the beverage behemoth said that it will pay $2.15 billion for a stake in energydrink maker Monster Beverage MNST +27.87 per cent and an opportunity to take an even larger slice of the beverage world. Coca-Cola and Monster Beverage announced that

Coke will make a net cash payment of $2.15 billion in exchange for a 16.7per cent stake in Monster. Coke will also gain two seats on Monster’s board of directors. The companies said the deal aims to better-align each of their product portfolio and distribution abilities, and so Coke will transfer ownership of its energy business — which includes drinks like Full Throttle, Burn and Power Play — to Monster, while Mon-

ster will transfer its non-energy business — which includes drinks like Hansen’s Natural Sodas, Peace Tea and Hubert’s Lemonade — to Coca-Cola. Monster will also issue Coke shares of its common stock. “Our equity investment in Monster is a capital efficient way to bolster our participation in the fast-growing and attractive global energy drinks category,” Muhtar Kent, CocaCola chairman and CEO, said in a statement.

NEWS 47

Sanctity of Truth

Monday, August 18, 2014

Maritime security: Stakeholders flay Dickson on appointment of ex-militants EXCLUSION

Maritime workers see ex-militants as unsuitable for the job of securing the creeks Chris Ejim YENAGOA

aritime Workers in Bayelsa State yesterday criticized the State Government on the composition of the 11-man Task Force made up of ex-militant leaders in the state to tackle rising issues of kidnapping and sea piracy along the waterways

and creeks, declaring the decision as lacking in proper consultation. According to the State Chapter of the Maritime Workers Union led by the Chairman, Comrade Llyod Sese, the exclusion of the members of the Union and the appointment of strange persons not involved in Marine transportation is a clear indication that the State Government have failed to proffer lasting solution to the issue of insecurity along the waterways. Sese, while commenting in Yenagoa on the setting up of the Task Force said the action of the state government is a clear failure and lacks proper consulta-

tion. "How can government appoint people who know nothing about the creeks and the rivers; who stays in Abuja to head that kind of task force without involving the maritime union? He queried, adding that the government should collaborate with the union by engaging them in the system since they are familiars with the creeks and other areas of the waterways. " You are asking people living in Abuja who built mansions there and know nothing about the waterways to come and man security on the waterways because you have interest, how can it work? We will withdraw our services in

other to stop wasting the lives of innocent citizens. The ex- militants were appointed as task force without maritime union. These are the same people who have boys doing one thing or the other along the waterways and you want their boss to call them to order, it won't work", he declared. Comrade Sese, also said the past empowerment programmes initiated in the transport sector by the State Government have not been extended to the Marine sector. According to him, the union has neither seen nor received anything from Ministry of Transport.

Kogi APC looks up to Aregbesola Muhammad Bashir LOKOJA

ogi State Chapter of All K(APC) Progressive Congress has congratulated

the Governor of Osun State, Ogbeni Rauf Aregbesola over his re-election as second term governor of Osun. The opposition party at a press briefing in Lokoja yesterday described the victory as the wish of the good people of Osun state, who believe in continuation of good governance. The State Chairman of the party, Alhaji Haddy Ametuo said further that the victory is for democracy and the people of

the country, noting that the result of the election is a divine intervention against election rigging especially the scientific method allegedly used to manipulate the people's mandate in Ekiti. Ametuo called on the people to have faith in God, saying God in his infinite mercy would replicate what happened in Osun state in Kogi state come 2015 general election. He urged the people of Kogi to be resolute, focused and prepared to make positive change, stressing that end time of the ruling PDP in Kogi is here.

Awoniyi tasks politicians on selfless service Muhammad Bashir LOKOJA

ogi state Deputy GoverKurged nor, Yomi Awoniyi has politicians to see

their election as a privilege that should be justified by selfless service to the electorates. Awoniyi made the call at the presentation of a score card by Hon. Saidu Akawu Salihu, member representing Kogi LGA in the Kogi State House of Assembly. Awoniyi, who was represented by the Permanent Secretary, Political Affairs under the

deputy governor's office, Alhaji Aliyu Lawal Jiya, described the ability of lawmakers to stand and present their score card as demonstrated by Salihu, as courageous and symbolic of the love he has for his people. He stated that the score card presented by Saidu is an indication that he keyed into the transformation agenda of the Capt Idris Wada's administration and commended the legislator for being one of those that have contributed to making laws towards attaining the objectives of the present administration.

PUBLIC NOTICE L-R: Deputy Speaker, House of Representatives, Hon. Emeka Ihedioha; Secretary to the Government of the Federation, Senator Anyim Pius Anyim; Abia State Governor, Theodore Orji and Senator Ben Obi, during the zonal rally of the Transformation Ambassadors of Nigeria, at Alex Ekwueme Square, in Awka, Anambra State…at the weekend

Terrorism: Oshiomhole proud of military push Cajetan Mmuta BENIN

overnor Adams Oshiomhole of Edo State and the Chief of Army Staff, Lt-General Kenneth Minimah have expressed confidence in the ability of the Nigerian Armed Forces to defeat the terrorists troubling parts of the county. Both spoke at the Nigerian Army Corps and School of Supply and Transport, Benin Edo state capital during the commissioning of the remodeled Officers Mess,

made possible by the state government. Governor Oshiomhole said terrorism and other violent crimes are alien to the nation and will be stamped out in no distant future. He stated: “We in Edo state appreciate the sacrifices which the men and officers are paying at this critical time of our history dealing with new forms of crime that one never thought was possible in this country a couple of years back. “We appreciate the will, the determination to

confront the risk and to defeat them. I believe the Commander-in-Chief and our President, Goodluck Jonathan, is providing the leadership and the Nigeria Army is doing an excellent job in making a bold statement that these terrorists will be defeated. By the grace of God, Nigeria will be secured for generations yet unborn. “I want to thank Mr. President who graciously approved the Army to support and compliment the efforts of the Nigeria Police. For us in Edo, the Nigeria Army is part and

parcel of the community. Edo people are proud of the Nigeria Army and are proud of the contributions you are making to make Edo state safe” the governor added. He thanked the Army for acknowledging the support of the state government. He said: “Giving the support is one thing and making judicious use of it is another. I think the officers who remodeled this building have shown the capacity of the Nigeria army to manage resources judiciously.”

Group drumps up support for Jonathan’s re-election he Lagos State PDP in Lagos. The Lagos PDP Patriots “Indeed, we are conTensure Patriots has vowed to Chief Jide Damazio, which has the objective of cerned about the unrelentthe re-election of convener of the move- mass mobilization and ing criticisms of the PresiPresident Goodluck Jonathan and deliver the state to the Peoples Democratic Party in the 2015 general elections. The body, a political movement within the Lagos State chapter of the PDP, made the declaration

ment, who led other leaders and members at the conference hinged the president’s re-election on his achievements in office while decrying what he regarded as the “unrelenting criticism against the presidency”.

unity among PDP leaders and members, Damazio said, will henceforth begin the spread of such “critical messages” of President Jonathan’s re-election as a necessity for national cohesion, integration and transformation.

dency as if the Federal Government hadn’t done anything in the country; so we will be ready to correct such erroneous and misleading perception which is at the core of the propaganda of the opposition," he said.

INNOVATION CHRISTIAN CENTRE

The general public is hereby notified that the above-named CENTRE has applied to the Corporate Affairs Commission for registration under part “C” of the Companies and Allied Matters Acts,1990.

The Trustees are: 1. Benedict Abayomi Odeleye — Senior Pastor 2. Oluwabunmi Itunu Odeleye — Secretary 3. Funke Bosede Odeleye 4. Adewale Wale Adeyemo 5 Mobolaji Adeola Adeniyi Aims and Objectives: 1. Preach the gospel, teaching converts to obey and follow Christ. 2.Preaching and propagating the gospel through print and electronic media . 3. To heal the sick, deliver the oppressed and set the captive free. Any objection to this application should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, Plot 420 Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

SIGNED: Trustees PUBLIC NOTICE THE CITY OF GOD CHRISTIAN DELIVERANCE CHURCH The general public is hereby notified that the above-named church has applied to the Corporate Affairs Commission for registration under part “C” of the Companies and Allied Matters Acts,1990.

The Trustees are: 1. Evang. Ekwe Onyewuchi Cornelius 2. Evang. Onyebuchi Ursla Chika 3. Anele Oparah Ethelbert 4. Chukwuma Pedro Emeka 5. Hon. Ihezuo Dennis Ahumaraeze 6. Chikezie Juliana 7. Momodu Yaya Aims and Objectives: 1. To preach the gospel of our Lord Jesus Christ in all parts of the country. 2. To establish fellowship centres or churches and to unite all Christians. 3. To organize crusades, revival meetings. Any objection to this application should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, Plot 420 Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

SIGNED: Evang. Ekwe Onyewuchi Cornelius

48 NEWS Biodun Oyeleye ILORIN

he Conference of Nigerian Political Parties (CNPP) Kwara State Chapter yesterday accused the Independent National Electoral Commission (INEC) of a deliberate ploy to disenfranchise thousands of its members ahead of the 2015 general election by refusing to make available their Permanent Voters Card. But spokesman for the electoral body in the state, Mr. Jacob Ayanda said there was no basis for such allegation as the commission was carrying every stakeholder along on the hitches being experienced in the course of the exercise. Chairman of the Conference, Alhaji Adebayo Lawal who made the disclosure while addressing a press conference on the exercise in Ilorin

Sanctity of Truth

Monday, August 18, 2014

CNPP, INEC disagree over PVC distribution in Kwara

along with his members lamented that contrary to the posture and promise of INEC the exercise has been lopsided and handled in a way to give the impression of bias against members of the Conference. Excerpt from the text of the conference reads: "The postponement of the Permanent Voter Card (PVC) distribution and Continuous Voter Registration (CVR) exercise that was initially fixed for July, 2014 in Kwara State by the Independent National Electoral Commission (INEC), the PVC distribution exercise commenced yesterday on a worrisome and disturbing note. “The preliminary report of the PVC dis-

US$1.6trn

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

tribution exercise from 193 wards across the 16 local government areas of Kwara State has shown that the integrity of INEC Chairman, Professor Attahiru Jega is on the line, the forthrightness of Kwara State Resident Electoral Commissioner (REC), Chief Timothy Ibitoye is being challenged and the credibility of INEC has been encroached by INEC itself whether by its action or inaction or by political conspiracy. "As we speak, thousands of CNPP members and supporters, with valid temporary voter cards issued by INEC, from the 16 local government areas of Kwara State are at the verge and borderline of being disenfranchised

13,500

The number of fixed-telephone subscriptions of Afghanistan in 2012. Source: Itu.int

by INEC due to its failure to provide their PVCs and without satisfactory explanation for this failure.” According to him, those patriotic Kwarans and CNPP members had thronged their various polling units to exchange their temporary voter cards for PVCs but surprisingly, were told their PVCs were unavailable without any further explanation on why the PVCs were unavailable. ”What has INEC done about it? Or better, what is INEC doing about it? We ask: with the enormous resources at INEC's disposal, how many years will it take INEC to provide PVCs to the less than 2million voting population in Kwara State?"

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

Benue deputy governor dispels rumours of Ebola spread Cephas Iorhemen MAKURDI

eputy governor of DSteven Benue State, Chief Lawani has

dispelled the rumour spreading round that the dreaded Ebola Virus Disease (EVD) has spread to the state. Chief Lawani stated this yesterday in Vandeikya Local Government Area of Benue State during traditional wedding reception. Chief Lawani assured Benue people that government has put in place adequate anti Ebola

preventive measures to check the spread of the deadly virus in the state. He further advised Benue people to desist from peddling unsubstantiated rumor about the disease but should always seek information from relevant government agencies. Chief Lawani advised the people of the state not to be apprehensive as government is keeping in touch with relevant agencies in the country and monitoring keenly to ensure the disease does not spread to the state.

SDP will check Aregbesola’s excesses, says Chiar Adeolu Adeyemo OSOGBO

he Chairman of SoT(SDP) cial Democratic Party in Osun state, Mr.

Ademola Isola yesterday affirmed that his party would serve as a veritable check and balances to the Rauf Aregbesola led administration in order to make the state more virile. The party Chairman who said this in a statement in Osogbo, stated that his party will not go to sleep after the poll but remain a strong opposition to the ruling All Progressives Congress (APC). He stated that the SDP would criticise the admin-

istration constructively by righting all wrongs to be able to add values to governance in the. “It is not over yet until we see that our collective money is spent judiciously. We won’t go to sleep after this election because this is our state. SDP will form an alternative cabinet or what is called shadow cabinet in United Kingdom to monitor the system and to put those in position of authority on their feet. “Our party is not just seeking to govern Osun. SDP is not just looking for power for its sake. But as a party, we see ourselves as the third force and the best option," Ishola said.

Typhoid vaccine for launch Appolonia Adeyemi igeria will next week Nlaunch witness the formal of a new vaccine

Acting Director of Studies, Nigeria Institute of Policy and Strategic Studies (NIPSS), Kuru, Air Commodore E.K. Jakada (left), receiving FRSC publications from Corps Marshal and Chief Executive, Federal Road Safety Commission (FRSC), Boboye Oyeyemi, after a lecture at NIPSS, Plateau State… at the weekend

Building Demolition Commission begins sitting August 28 PROPERTY

Illegal and sundry demolitions may not reign in Oyo henceforth

he Judicial Commission of Inquiry set up by the Oyo State Governor, Senator Abiola Ajimobi to investigate the complaints and grievances arising from demolition of buildings on grounds of Environmental and Town Planning Regulations’ contraventions in the state from May 29, 2011 till date will commence public sittings on August 28, 2014. Consequently, the Commission will be

sitting at the House of Chiefs, Parliament, Building, Secretariat, Ibadan at 10.00 am. each day. It has also requested for the submission of written memoranda by individuals, groups or organizations affected by the demolition. A statement issued in Ibadan yesterday by the Secretary to the Commission, Mr. Waheed Ajuwon, said anybody wishing to submit memorandum should produce 12 copies of such memorandum and submit to the office of the Commission's Secretary, Room 64, Office of the Governor, Secretariat, Ibadan between 9.00 a.m. and 4.00 p.m. According to the statement, all memoranda

are to be submitted within the next seven days, adding that such memoranda should be accompanied by relevant documents, including approved building plan, photograph(s) of such buildings(s), and proof of ownership of the affected property. It also stated that any other person wishing to give oral evidence could also appear personally at the public sittings. The commission of inquiry, under the Chairmanship of Justice Okanola Akintunde Boade (rtd.), was constituted on Monday, August 11, 2014. The commission was charged with the responsibility of receiving complaints of irregular

demolition of properties on the grounds of Environmental and Town Planning Regulations contraventions; determining the genuineness or otherwise of claims by complainants and recommend to the government the commensurate compensations to the complainants with genuine claims. It also has the mandate of advising the Government on the remote and immediate causes of contraventions and demolitions as well as investigating any public officer and/or person(s) responsible for allocation of premises and/or irregular demolition and recommend appropriate punishments for them.

for typhoid fever. The vaccine known as Tyvivac is a preventive medicine for typhoid fever and it comes in single and 10 doses. The vaccine which is being presented by Creative Ideas Limited (CIL) in partnership with its Vietnamese partners, Dalat Vaccine Company

(DAVAC) was a product of intense research that was undertaken by the Ministry of Health of Vietnam in collaboration with the World Health Organisation (WHO) as a result of the outbreak of typhoid attack over three decades ago. The efforts yielded results with the invention of the vaccine which eventually led to the total eradication of typhoid attacks in that country today.

PDP chieftains allege foul play, call for cancellation of PVC collector in Oyo Sola Adeyemo IBADAN

ome Peoples DemocratStains ic Party (PDP) chiefin Lagelu local gov-

ernment area of Oyo State have called for the cancellation of the ongoing distribution of Permanent Voters’ Card(PVC) in the state, alleging fraudulent withdrawals of the cards. They told newsmen that the ruling party in the state, the All Progressives’ Congress (APC) had connived with the Independent National Electoral Commission (INEC) and were withdrawing the cards by proxy.

Among the aggrieved chieftains was Chief Lekan Balogun, who described the act as "a structural rigging of the 2015 election", adding that the cards had been kept for friends of INEC. "We learnt that people were imported into Oyo with over 120 buses to collect the PVCs. We also learnt that a meeting was held where INEC had assured the APC on how to share the cards along political lines. This exercise must be cancelled and must start afresh from the registration stage,’’ he said.

WORLD | NEWS

Sanctity of Truth

Monday, August 18, 2014

Police deploy tear gas to impose Ferguson curfew

ne person was shot and seven people were arrested yesterday morning as police used smoke and tear gas to impose a curfew in a St. Louis suburb where a black teen walking down the street had been shot by a white police officer. Missouri State Highway Patrol Capt. Ron Johnson said during a news conference that police are still seeking the person who shot the critically

wounded victim and defended his department's strong strategic response that came after a midnight to 5 a.m. curfew took hold in Ferguson, Missouri. Johnson said the strong police response was precipitated by two events. Johnson said concerns about people who'd broken into a barbecue restaurant and taken position on the roof overlooking approaching police was one strategic concern. He said another involved

a man who flashed a handgun and appeared in the middle of the street as armoured vehicles approached the crowd of protesters. Hundreds of other protesters left peacefully before the curfew took effect in Ferguson, where 18-year-old Michael Brown was fatally shot on Aug. 9. The shooting has prompted protests, unrest and claims of civil rights violations. But remaining protesters chanting "No justice! No

curfew!" refused to leave the area. As five armoured tactical vehicles approached the crowd, officers spoke through a loudspeaker: "You are in violation of a state-imposed curfew. You must disperse immediately. Failure to comply may result in arrest." As officers put on gas masks, a chant from the distant crowd emerged: "We have the right to assemble peacefully." Highway Patrol Spokesman Lt. John Hotz initially said police only used smoke, but later told The Associated Press that they also fired tear gas canisters. He said of police efforts: "Obvi-

ously, we're trying to give them every opportunity to comply with the curfew." Jayson Ross, who was leading the protesters toward police before the canisters were fired, said: "They got guns. We got guns. We are ready." Nixon's curfew announcement came after tensions again flared in Ferguson late Friday night. Earlier that day, local police identified the officer who shot Brown as Darren Wilson and released documents and video footage alleging that Brown had robbed a convenience store just before he was shot.

UN condemns fresh clashes in Libyan capital

Protesters gesture as they stand in a street in defiance of a midnight curfew in Ferguson

Cairo talks must give Israel ‘clear' security answer

srael will not agree to any long-term ceasefire in Gaza at indirect talks in Cairo unless its security needs are clearly met, Prime Minister Benjamin Netanyahu said yesterday. "The Israeli delegation in Cairo is acting with a very clear mandate to stand firmly on Israel's security needs," Netanyahu told ministers at the start of the weekly cabinet meeting in Jerusalem. “Only if there is a clear answer to Israel's security needs, only then will we agree to reach an understanding," he said, as Israel's negotiating team made its way back to Cairo for indirect talks with the Palestinians over a long-term arrangement to end more than a month of bloodshed in Gaza. The Egyptian-brokered talks, which resumed on Sunday, are taking place during a five-day lull in the fighting between Israeli and Gaza's Hamas de facto rulers which is due to expire at midnight on Monday.

Israel has demanded the demilitarisation of Gaza as its condition for facilitating any reconstruction in the battered enclave, swathes of which have been reduced to rubble by the military offensive which began on July 8. The Palestinians have rejected any call to disarm Gaza and are pushing for Israel to lift its eight-year blockade on the coastal territory. They also want the establishment of a sea port and an airport. In Gaza, Hamas spokesman Sami Abu Zuhri said the Palestinians would not back down from their demands. "We are committed to achieving the Palestinian demands and there is no way back from this. All these demands are basic human rights that do not need this battle or these negotiations," said Abu Zuhri "If Hamas thinks it will make up for its military losses with a political achievement, it is wrong," he said. "If Hamas thinks that by continuing the steady trickle of rocket fire it will force us to make

concessions, it is wrong," he said. Ahead of yesterday's cabinet meeting, ministers insisted there would be no long-term truce agreement, nor would the Palestinians win Israel's agreement to the establishment of a port or airport without Gaza first being disarmed. "We have to insist on the matter of demilitarisation," Intelligence Minister Yuval Steinitz told reporters. "A sea port and or an airport without demilitarisation is like a duty free for missiles and rockets," he said."So far, many Grad (rockets) and Fajar missiles have been smuggled into Gaza and we don't want to find ourselves in a situation where Scud missiles are being smuggled into Gaza through the port," he said. Top diplomats from the European Union said Friday that a durable ceasefire must mean "all terrorist groups in Gaza must disarm" in a statement welcomed by Israel's foreign ministry which said it was the only way to ensure a "fundamental change" of the situation.

he United Nations condemned a new round of fighting between rival militias around Tripoli international airport, saying the clashes were undermining Libya's political process. Since mid-July, Libya has been rocked by fierce and deadly fighting between militias that has prompted an exodus of foreign nationals from the oil-rich North African country. The skirmishes have centred around Tripoli, where nationalists’ militiamen are battling pro-Islamist groups, and in second city Benghazi where a renegade army general is fighting Islamists. The new clashes in Tripoli raged on Friday and Saturday,

forcing hundreds of people to flee, residents said. There were no immediate reports of casualties. The confrontation between nationalist militiamen from Zintan and pro-Islamists from Misrata focused on a bridge leading to the capital's airport, which is controlled by the Zintan forces, residents added. Grad missiles and artillery were used in two days of battle which subsided Sunday after an unconfirmed claim by the Misrata fighters that they had seized the bridge and an army barracks. State news agency Lana said that around 1,000 families had fled the Tripoli fighting and were taken in by local officials in the town of Tarhuna, south of the capital.

Cameron harps on UK military prowess

ritain should use its military prowess to tackle Islamic State (IS) militants in Iraq, Prime Minister David Cameron said yesterday, stressing they had to be stopped from creating "a terrorist state on the shores of the Mediterranean". In his toughest comments yet on IS, an al Qaeda splinter group, Cameron said Britain needed to adopt a more robust stance against Islamic State to prevent it from one day launching an attack on British soil, a warning he first issued in June. Britain has so far limited its role in Iraq to aid drops, surveillance and agreeing to transport military re-supplies to Kurdish forces. In addition, Britain's trade envoy to Iraq has said SAS Special Forces are gathering intelligence there. "If we do not act to stem the onslaught of this exceptionally dangerous terrorist movement, it will only

grow stronger until it can target us on the streets of Britain. We already know that it has the murderous intent," Cameron wrote in an article for Britain's Sunday Telegraph newspaper. As part of its expanded role, he said he wanted Britain to lead diplomatic talks that include regional powers, possibly even Iran, to try to tackle the threat from IS. In recent weeks the group has seized swathes of territory in Syria and Iraq, in a swift and brutal push to the borders of Iraq's autonomous ethnic Kurdish region and towards Baghdad, sparking the first U.S. air strikes in Iraq since the withdrawal of American troops in 2011. Cameron said his government should also go further: "True security will only be achieved if we use all our resources – aid, diplomacy, our military prowess," he wrote.

Ebola: Ujiri rues cancellation of Africa Top 50 Ifeanyi Ibeh

oronto Raptors president and founder of Giants of Africa, Masai Ujiri, has expressed sadness over the postponement of this year’s Top 50 Camp due to the recent outbreak of Ebola Virus Disease in Nigeria.

Scores of promising teenage basketball players had been looking forward to the commencement of the annual basketball camp, which has over the years served as a launch pad for the college and professional careers of a host of Nigerian-born basketball players. But these teenagers, some of who

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

were hoping they would get the attention of some of the coaches and scouts associated with the Giants of Africa initiative, will have to wait until another time to showcase their basketball skills. And Ujiri, a former star of the Nigerian national team, is unhappy at

51 the situation. “It’s unfortunate we are not going to be in Nigeria. We know how much guys back home have been looking forward to it. We have also been looking forward to coming to Nigeria but this is something that is much bigger than all of us (the Ebola virus),” said Ujiri, via email.

Did you know? NEW TELEGRAPH

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

MONday, August 18, 2014

With their destruction of Brazil, Germany became the top scoring nation in World Cup history (223), overtaking Brazil in the process. Germany ended the tournament with 224 goals, three ahead of Brazil.

The NFF president Nigeria needs - Amodu

Charles Ogundiya

head of the elections into the executive board of the Nigeria Football Federation, former Super Eagles head coach, Shaibu Amodu, has expressed his thoughts on the attributes he would love to see in the person in charge of the football house. Speaking to New Telegraph, Amodu stated that it was important to have the right person voted in as president of the federation, insisting that such a

candidate must be a technocrat who can easily run the federation with little or no support from the government. “Some of the problems we are facing in our football are due to the total dependence on the government for everything; so we need someone who can source for funds to run the federation. “We need someone who can bring the private sector into our football; someone who can be trusted with funds and who is well educated.” He also stated that the person must be ready to develop football from the

grassroots. “We have been neglecting the grassroots which has produced some fantastic players that won us honours in the past. The Nigerian league has been neglected and there is a need to take the league back to what it was before. “In the past, the bulk of the national team players were drawn from the league and they were big names who impressed fans every week. So we need to bring back the glamour to the league.” The NFF elections will take place on August 26.

Appeals committee clears Umeh for NFF elections

Amodu

} p 55

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Sanctity of Truth

Monday, August 18, 2014

Mikel going nowhere, Mourinho insists

Eagles to face Congo, as CAF disqualifies Rwanda

Emmanuel Tobi

uper Eagles will not play Rwanda but Congo DR in their 2015 African Nations Cup qualifying series opener in Calabar after the Confederation of African Football disqualified the Amavubis. Rwanda got bundled out of the series after CAF found the country guilty of fielding an ineligible player during their preliminary fixtures against the Congolese. The controversial player, Dady Birori, was found to have been playing in the DRC under another name- Agiti Etekiama with a Congolese passport.

midst speculation about his future at Chelsea, Jose Mourinho has revealed that Super Eagles midfielder, Obi Mikel will play a significant role for the Blues as they begin their Premier League campaign against Burnley on Monday. Mourinho has players of Cesc Fabregas, Nemanja Matic, Ramires, John Obi Mikel and Marco Van Ginkel available for selection and has said that none of them will feel like they are second choice “Everybody will have a chance, nobody will feel as though they are first choice or second choice,” Mourinho told Chelsea’s official website. “For example, in midfield we have Mikel, Matic, Ramires, Fabregas and Van Ginkel, so everybody will play and will feel useful, important.” The Chelsea boss says every one of his midfielders will get a chance, implying that they will be staying with the Blues this season.

Samuel Peter returns to the ring October 24 Ifeanyi Ibeh

F Mikel

AFN signs agreement with CAA on training centre

he Athletics Federation of Nigeria has signed a memorandum of understanding with the Confederation of African Athletics (CAA) on behalf of IAAF, for the establishment of a training center at the University of Port Harcourt. This, for Nigeria, was the high point of the just concluded Marrakech 2014 African Athletics Championships. The center, the first of its kind in Africa, is nearing completion at the university’s main campus. Speaking at the signing ceremony the President of CAA, Hamad

Ajibade Olusesan

KaiKaba, revealed that the CAA and IAAF decided to establish the centre in the University of Port Harcourt because it will give athletes the opportunity to train and study. “This has been our dream for so long, but I thank God that the dream is now a reality, Kaikaba said.’’ He said strong countries like Nigeria and South Africa must assist smaller ones to achieve their potentials by providing assistance in all areas. Speaking on behalf of the Nigeria delegation, Akinyemi, expressed thanks to IAAF and CAA for establishing the

ormer World Boxing Council heavyweight champion, Samuel Peter, will make a much awaited return to action in October after agreeing to fight Alex Leapai, who recently fought and lost to undisputed heavyweight champion of the world, Vladimir Klitschko. The 10 round bout is scheduled for October 24 and is set for Leapai’s home country of Australia. Nigerian-born Peter has not stepped into the ring since losing to Finland’s Robert Helenius back in April 2011, and rumours have been circulating since December 2013 that the former world champion was planning a return to the ring. Peter was reportedly tinkering with the idea of retiring from the sport following that painful knockout loss to Helenius, a loss which followed an earlier one to Klitschko. The nature of that loss to the Finnish boxer and the fact that Peter has not boxed in three years, most likely means

The age-grade handball championship, which is taking place in Idah, Kogi state, got underway on Saturday. It will end on Saturday, 23 August, and Suleiman, while speaking with newsmen during a courtesy visit to the Kogi

Samuel Peter

the Nigerian is being used as a big name for Leapai to build upon after last April’s one-sided defeat to Klitschko. Peter is currently a far cry from the boxer who got the better of former champion James Toney in 2007, and defeated Oleg Maskaev a year later to claim the WBC title.

Lesotho withdrawal: F/Eagles await CAF verdict Ogba

Ifeanyi Ibeh

centre in Nigeria. Hawa Kulu-Akinyemi a director at NSC who signed on behalf of Nigeria said she was sure that the centre will be a success.

igeria’s Flying Eagles will have to wait on the Confederation of African Football to know if they have qualified for the 2015 African

Handball Championship: Kogi assures teams of security he Kogi state Commissioner for Youths and Sports, Alfa Ikani Suleiman, has assured participating teams at this year’s National U-12 Boys and U-15 Girls Handball Championships of adequate security over the course of the tournament.

Congolese Football Federation (FECOFOOT), in their protest to CAF, alleged that Rwanda named the player for their first leg of the second round match played on 20 July 2014 in Pointe-Noire. CAF also sated in a press statement that the player has been suspended from playing for both club and country till further notice despite claims by Rwanda that they were unaware he had another identity. However, Nigeria will now face Congo at the UJ Esuene Stadium in Calabar on September 6. Sudan and South Africa are the other countries in the same group with Nigeria in the qualifying series

state Chairman of the Nigeria Union of Journalists, Ali Atabor, in the state capital Lokoja, disclosed that 12 states weretaking part in the weeklong championship. And in a bid to ensure a hitch-free tournament, Suleiman revealed that

watertight security has been put in place to ensure the safety of all the participating teams, even as he commended the Kogi state Governor, Idris Wada, for providing the needed assistance to the ministry to enable it to stage the tournament.

Youth Championship after Lesotho failed to show up for Saturday’s qualifier in Kaduna. Lesotho had earlier expressed concerns over the outbreak of the Ebola virus in Nigeria and failed to show up for the game scheduled for the Ahmadu Bello Stadium. But match officials insisted till the last minute that they have not received any official notification that the first leg final qualifier has been called off and as a result went through the traditional walkover ceremony.

An official notification has not been received from CAF though, and as a result, the Nigerian team has returned to their Abuja camp pending when a final notice is received from the continent’s football body. CAF is expected to take a final decision on the match based on the reports of the match commissioner from Benin Republic and the match referees from Senegal, who were all in Kaduna. Senegal are hosts of the 2015 AYC, coming up next March.

SPORT

Sanctity of Truth

Monday, August 18, 2014

Liverpool stronger without Suarez, says Sturridge

lAs Man City open with Newcastle win

iverpool striker Daniel Sturridge believes the Reds are stronger in the absence of Luis Suarez after combining with Raheem Sterling to hand his side a 2-1 win over Southampton on Sunday. “It’s important as a collective unit that we all provide the goals, but it doesn’t matter how many we get so long as

we defend well and get the goals we need,” Sturridge told Sky Sports 1. He added: “The first game is always difficult. The pace was high, we worked hard and controlled things, but when they got a goal it was difficult for us. “But we got the result and that’s what matters.” Asked if Liverpool were stronger without

Suarez, Sturridge added: “I think so, with the players we have brought in. No disrespect to Luis - he’s a great player and he’ll be missed - but we move on from that. “We have shown we can win games, score goals and defend as well. But with the little man (Sterling) and the other players producing the goods, we’ll be okay.”

Elsewhere, goals from David Silva and Sergio Aguero were enough to ensure that Manchester City got their title defence off to a winning start against Newcastle. Silva put City in front after getting on the end of a Edin Dzeko backheel and slotting past Tim Krul in the Magpies’ goal before Aguero added a late second.

Suarez

Celtic duo doubtful ahead Euro tie Suarez in line for Barca bow

C (L-R) Mesut Ozil, Lukas Podolski and Per Mertesacker

Champions League:

eltic romped to a 6-1 Premiership win over Dundee United at the weekend, but it proved to be victory at a cost ahead of their midweek European excursion. Adam Matthews suffered a calf injury in the warm-up – his place in the starting line-up was taken by Efe Ambrose – and substitute James Forrest pulled up with a hamstring injury as he set up the final goal. They were injuries boss Ron-

ny Deila could have done without before what seems certain to be a Champions League qualifier – depending on the Court of Arbitration for Sport’s decision on Monday – against Maribor in Slovenia. Deila said: “There was something with Adam’s calf and we needed to switch before we started. “But Efe played very well at full-back, so we will see how big an injury it is for Matthews.

Wenger to recall German Navas relishes Madrid debut despite loss World Cup stars

rsenal manager Arsene Wenger admits he is considering bringing his German World Cup winners back into the squad ahead of schedule for the first leg of Tuesday’s Champions League play-off at Besiktas. Wenger had given German trio Mesut Ozil, Per Mertesacker and Lukas Podolski extra time off following their nation’s triumph in Brazil last month. But with Kieran Gibbs having suffered a hamstring injury against Palace and Jack Wilshere also taken off early following a heavy challenge, the Frenchman admitted he was tempted to issue a recall notice. “The Champions League qualifier is a massive game for us against Besiktas, we have a short time to recover,” said Wenger. “Normally the German players would not play in that game. We will have to see but only in case of emergency. “Because of the physicality and the organisation level of Crystal Palace it was very difficult for us. We conceded a goal from the first corner they had because we still lack a bit of pace in the final third when we build up into dangerous situations.

eylor Navas was satisfied with his Real Madrid debut, despite suffering a 2-1 loss to Fiorentina on his bow for the Spanish capital club. The Costa Rica international played the full 90 minutes as Real succumbed to defeat in Warsaw, goals from Mario Gomez and Marcos Alonso giving Fiorentina the victory after Cristiano

Ronaldo had opened the scoring for Carlo Ancelotti’s men. “Unfortunately, we couldn’t get the win, but I felt good and the team leaves feeling good,” Navas said. “The first time out with my new team-mates is important. We need to keep working and improve every day. “I’m very calm, I’m not here to do wrong by anyone.

ontroversial Uruguayan striker Luis Suarez will probably play his first game for Barcelona in a friendly on Monday, coach Luis Enrique said, despite the player’s competitive ban for biting a World Cup opponent. Suarez, who is banned from competitive matches until October 25 for biting Italy’s Giorgio Chiellini, trained with Barcelona on Sunday ahead of Monday’s Joan Gamper Trophy, the traditional curtainraiser to Barca’s season, against Mexican side Leon. “I would like him to be able to play for a few minutes (on Monday),” Enrique told a news conference after Sunday’s training. “Not many, because he has not played for some time, but he has worked very well when training on his own.” Barcelona bought Suarez for a reported 95 million euros (£75 million, $127 million) from Liverpool last month.

I deserved more time at United – Moyes

Moyes

avid Moyes says he should have been given more time to be a success at Manchester United before being sacked. In an interview in The Mail on Sunday, the former Manchester United manager said:

“It was a step into the unknown and, looking back now, it was near enough the impossible job. “I was devastated to lose the job because it was something I felt I could make a real success of. We knew it was

Rooney keen to move on from Swansea loss

ayne Rooney was proud to captain Manchester United against Swansea on Saturday but is desperate to put the shock home defeat behind him. The England striker scored the equalising goal at Old Trafford after Ki Sung-yueng had given Garry Monk’s side the lead but Gylfi Sigurds-

son pounced to earn a 2-1 victory for Swansea in Louis van Gaal’s first competitive game as United manager. “It was a proud moment but a disappointing result,” he told MUTV. “It’s not one I’ll look back on and remember with fond memories. You always want to win. It was a nice moment, but

I’m disappointed we lost.” Rooney is already looking ahead to the game at the Stadium of Light, where he and his team-mates will aim to make amends. “We need to prepare right and get this result out of our system. We start our season Wayne Rooney scoring against Swansea from there,” he added.

going to take time to make the necessary changes. It was going to take time to evolve. “But we were in the process of making other important changes. In the end, I don’t feel I was given time to succeed or fail.”

Sanctity of Truth

Monday, August 18, 2014

Toriola still relevant for Nigeria - Oshodi NTTF President, Enitan Oshodi

President of Nigeria Table Tennis Federation, Enitan Oshodi, believes veteran tennis player, Segun Toriola, still has some years to offer the national team while hailing the inspirational leadership of the team captain to the Glasgow game who has six Olympic appearances and seven commonwealth games medals to his credit. How will you assess the table tennis team performance in Glasgow Commonwealth Games? With regard to table tennis I think we did fairly well. The level of competition at the games was quite high. Several highly-ranked countries like Singapore, India, England, Canada, Australia and then some new faces like Mauritius featured. Also the home nations were really well supported. Winning a bronze medal in the men’s team event was quite an achievement when you put into consideration that Segun Toriola was really the only experienced player in the team. The young ones like Aruna Quadri and Ojo Onaolapo were a revelation. Although it was also disappointing that our players did not make the medal stage of the singles and doubles events. The female team failed to make impact like their male counterparts what can you attribute this to? A myriad of reasons first of all, we are not producing enough players to challenge the established stars. Our coaches have a lot of work to do in this regard. The overall performance of our female players was to say the least quite disappointing. The commitment of our female players has to be reassessed and we must now ensure that only people who are willing to wear the Nigerian shirt will represent the country. We have a few very young players that the Federation has been working with like Esther Oribamise, Ajoke Ojomu, Alimot Ayinla and it’s time we fast tracked their development. This means exposing them to quality coaching and attendance at international tournaments. One cannot throw out experience, but we have to challenge the older female players to bring out the best in them as is being done in the men’s game. Players can not have a divine right to represent the country even when their form and play suggest otherwise. We must now give the younger male and female players a chance. What lessons are you taking from Glasgow? We must ensure our preparation is of the highest international standard. We have improved a great deal over the last year, but we must continue to do so. This means ensuring that we have programmes all

Toriola

season long so that our players can be monitored and coached properly. We must also find better ways to monitor our players who are playing abroad. It is obvious from the performances of many of them during the Lagos Open that they cannot be playing seriously abroad. We will continue to find ways to improve our coaches, administrators and even umpires. We will need to find more funding for our programmes. Hopefully, our modest achievement in the last two months will help convince the National Sports Commission to support our programmes, especially in attending international events. Our players need to compete against the best in the world regularly. That is the only way we can continue to beat these players. We have seen that the gap between our players and the best in the World is not that wide, so we must find ways to bridge that gap. The performance of Onaolapo and Quadri tells us that we are on the right course, at least in the men’s game. Many believe Segun Toriola has nothing to offer and with what he played in Glasgow do you think he is still relevant in the team? Toriola is one of the greatest sportsmen this country has ever produced. We do not contextualise athletes’ performances properly. Six Olympic appearances, seven commonwealth games medals including an individual gold, countless African titles, the man is a legend. He has also had to deal with severe injuries in the past four years. Segun played very well but of course time tells on all of us. He was an excellent anchor in the team events especially in the doubles’ matches , where he brought his vast experience to bear on the matches. More importantly his assistance to the coaches was really good, especially in that crucial bronze medal match when Onaolapo ranked 358 in the world had to play the Indian number one player, ranked 44 in the world. The respect he commands from his peers is inspiring, and of course his match against the world number 12 from Singapore is one of the greatest moments of the games. That 41 shot rally really emphasises the variety of shots that Segun commands. He is a legend of world table tennis I think Segun still has a chance to play in the next All Africa Games but even he is now hinting at a career in coaching. I am sure he will be great success as a coach, because he has knowledge, skill

Ojo Onaolapo being lifted up by a teammate after he won bronze at the Commonwealth Games in Glasgow

and very importantly humility and discipline. He is a great asset to Nigerian table tennis. What do you think was Nigeria’s undoing in Glasgow? We did not do badly as a team but our preparation and its funding could have been much better. We need to ensure that we plan ahead. Quadri’s world ranking from 227 to 108 in just six months is a great testament to the talent in this country and the work of the Federation. We have a lot of hard work ahead but I am quietly confident that we are on our way back to the top table of world table tennis.

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Sanctity of Truth

Monday, August 18, 2014

Appeals committee clears Umeh for NFF elections Charles Ogundiya

eprieve has come the way of acting President of the Nigeria Football Federation, Mike Umeh, in his quest to become the next head of the football house after he was cleared by the NFF’s elections appeals committee. Umeh had earlier protested his disqualification

by the Electoral Committee headed by Amoni Biambo last week, citing irregularities in his nomination form, a situation which made the proprietor of Giwa FC, Chris Giwa, the sole candidate for the elections slated for August 26. According to Biambo, the acting President of the NFF had picked up a nomination form to contest as a first vice

President but submitted the form as a presidential candidate without attaching receipt for the purchase of the form. Umeh was, before becoming acting President of the NFF, first vice President of the football body. Speaking with New Telegraph, Umeh said he cannot settle for less in the election as he is ready to become the sub-

Enyimba, Abia Warriors in six-goal thriller Charles Ogundiya

he much anticipated Aba derby between Enyimba and city rivals Abia Warriors lived up to expectations on Sunday with the game ending in a thrilling three-all draw. Abia Warriors had earlier in the season defeated their more illustrious city rivals 1-0 and all eyes were on Enyimba to avenge the defeat. After an exciting first half that saw both sides going into the break with two goals apiece, Enyimba appeared set to carry the day after Rasheed Olabiyi handed them a 67th

minute lead. But a late Chisom Chikatara goal gave the Warriors a share of the spoils. Meanwhile, Bayelsa United striker, Peter Ebimobowei, increased his goals tally for the season to 13 as his hat-trick gave his club a 3-0 victory over Kaduna United in Benin. Ebimobowei is now joint top scorer with Rangers’ Osaguona Ighodaro. In Ibadan, two goals from brothers, Bode and Tunde Daniel, gave Crown FC of Ogbomosho a 2-0 home win over Sharks of Port Harcourt.

MATCH DAY 24 RESULTS Lobi Stars 1-0 Nasarawa Heartland 2-0 Gombe Utd Sunshine 0-0 Dolphins Warri Wolves 2-1 Kano Pillars Bayelsa Utd 3-0 Kaduna Utd Akwa Utd 1-0 El-Kanemi FC Taraba 1-1 Nembe Rangers 1-0 Giwa Abia Warriors 3-3 Enyimba Crown FC 2-0 Sharks

AYC qualifier: Pascal blasts Lesotho Charles Ogundiya

USA’s Makenzy Doniak (l) and North Korea’s Choe Sol Gyong battle for a high ball during their quarterfinal tie at the weekend

U-20 Women World Cup: Germany, North Korea reach semis

orth Korea beat the USA on penalties in the FIFA U-20 World Cup quarter-finals, while Germany eliminated hosts Canada. The USA let an early lead slip, eventually seeing most of their penalties saved as North Korea went through to the semi-final Mackenzy Doniak turned in Mallory Pugh’s 6th-minute cross at the second attempt but the Koreans were denied an equaliser 12 minutes later when Jon So-Yon hit the bar. The leveller finally came 8 minutes after the restart when Ri Un Sim’s goal-bound effort hit Stephanie Amack on the arm and Jon SoYon converted the penalty.

Chances were few in extra-time and when it came to a shoot-out, Kim Chol Ok made crucial saves and Rim Se-Ok netted the decider. Canada’s U-20 World Cup dream came to an end at the hands of Germany and in front of a huge turnout of over 22,000 fans. The Germans won 2-0 but Emma Fletcher did rattle the German crossbar before in the 24th minute Lena Petermann sent Pauline Bremer away to coolly finish. The result was put beyond doubt on 82 minutes, when Arsenal’s Turid Knaak got her head on the end of Sara Daebritz’s set-piece. Germany will now face France or South Korea in Wednesday’s semi-finals.

stantial president of the football house. When our correspondent put a call across to the secretary of the appeals committee, Lawrence Katken, to confirm the outcome of the meeting, he said he was in a meeting and would get back to us as soon as he was through with the meeting but did not as at the time of going to press.

ormer Nigeria international, Patrick Pascal, has described as lame the reason given by the Lesotho Football Federation for pulling out of the African Youth Championship qualifier against Nigeria. Lesotho over the weekend pulled out of the AYC qualifier, citing the outbreak of the Ebola virus in the country. Pascal has however called on the Lesotho FA to stop tarnishing the image of Nigeria, insisting the reason why they pulled out of the game against the Flying Eagles was because the Southern African nation didn’t have enough funds to prosecute last Saturday’s game. Speaking with New Telegraph, Pascal said: “If they don’t have the funds to prosecute the match, they should come out clean and stop all this propaganda. “These same people are struggling to get visas to America in their country, will they say because there are cases of the virus they will not go if given visas to America? The players they are coming to play against, do they have the virus? “What some of them are battling with in their country, nobody knows. But because they want to tarnish our image in front of the whole world, they are coming up with all sorts of excuses. This virus was brought into Nigeria from another country, so they should not tarnish our image. The most important thing is that the government has taken measures to contain the virus and make sure it does not spread across the country.”

EAGLES EURO ROUND-UP

Ujah hits brace in German Cup Stories by Ajibade Olusesan

uper Eagles fringe player, Anthony Ujah, was in great form on Saturday when he scored two goals in Cologne’s 4-0 win over Braunschweig in the German Cup. The player who was part of the Nigerian team to the Confederations Cup last year opened his account in the 46th minute and increased his tally six minutes later. The player was influential in Cologne’s promotion to the Bundesliga, scoring 11 goals as the club won the Bundesliga 2. Meanwhile, erstwhile Eagles defender Seyi Olajengbesi played for 90 minutes but he could

Ujah

not help Sandhausen to escape loss at Bielefeld. The club suffered a 1-0 defeat in the German Cup. In Russia, Ahmed Musa played for 90 minutes as CSKA capitulated at home in the match against Spartak Moscow. Ahmed Musa is yet to score his first league goal this season despite featuring in all CSKA’s four matches.

Osaze, Ideye, others benched in EPL

t was largely uneventful English Premier League opening weekend for Nigerian players, as virtually all of them did not taste action for their clubs in the English top tier. Osaze Odemwingie was not listed as Stoke City lost at home to Aston Villa. Coach Mark Hughes opted to field new strikers, Bojan Krkic and Mame Biram Diof, in his attack but the reason for Osaze’s omission was unknown as at press time. Victor Moses who completed his loan move to the Britannia Stadium at the weekend was also understandably omitted from the line-up. Brown Ideye will still

have to wait for his West Brom debut as he was confined to the bench in Baggies’ 2-2 home draw with Sunderland. His compatriot, Victor Anichebe, saw action for 90 minutes although he did not get on the score sheet. Sone Aluko was also an unused substitute for Hull City as the Tigers secured a 1-0 win at Queen Park Rangers on Saturday just as Sammy Ameobi was not even listed by Newcastle in their 2-0 home loss to Man City. Meanwhile, Kenneth Omeruo played all 90 minutes in Middleborough’s 1-0 loss to Leads City in the English Championship.

Ogbeche, Fatai on target

ut of favour Super Eagles player, Bartholomew Ogbeche, and former Flying Eagles striker, Kehinde Fatai, were on target for their clubs in Europe at the weekend. Ogbeche rescued a point for his Eredivisie club, SC Cambuur, in the Netherlands in their 2-2 draw with SBV Vitesse at GelreDome. Ogbeche struck from

close range in the 89th minute as Cambuur snatched an unlikely point that takes the club up to 9th on the Eredivisie standings. That was his first league goal this season. Similarly, Fatai scored his seventh goal of the season as he helped Astra Giurgiu to a 2-1 win over CSMS Iasi in the Romanian league on Saturday.

World Record

On Marble

There is only one way to avoid criticism: do nothing, say nothing, and be nothing.

– Aristotle

Sanctity of Truth

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

Three things cannot be long hidden: the sun, the moon and the truth – Buddha MONDAY, AUGUST 18, 2014

Shridhar Chillal (born 1938, in India) holds the world record for the longest fingernails ever reached on a single hand, measuring 6.15 meters (20 feet 2.25 inches). Chillal's longest nail is 4.25 feet.

N150

Higher interest rates, further bumps ahead

lobal interest rates will eventually move higher. We do not know precisely when, how fast, or how far, but we do know the direction. After a long period of very low interest rates following the global financial crisis, some central banks (mainly, the U.S. Federal Reserve and the Bank of England) are planning to “normalize”—that is, to gradually tighten their easy monetary policies as their economies improve. And when U.S. and U.K benchmark interest rates go up, interest rates tend to go up elsewhere, too. So should we worry if and when global financial conditions tighten? The 2014 IMF Spillover Report prepared by IMF staff looks into this important issue—what to watch out for and who to watch out for as interest rates begin to normalize. The answer depends on two sets of factors. First, what is going on in the originating source countries in terms of the underlying drivers behind higher yields—for example, whether or not stronger growth, say in the U.S. and U.K., is the main force behind higher interest rates. Second, what is going on in the receiving countries—that is, how vulnerable they might be to higher borrowing costs. Both these factors matter for spillovers as highlighted in the report. Factors that drive yields higher—good and bad spillovers Higher interest rates and exit from monetary stimulus in major advanced economies when led by stronger growth prospects (real shocks) produce good spillovers. Interest rates tend to rise elsewhere. But they are lifted by a rising tide of economic activity at home and abroad. Another positive development is that trade and capital flows tend to strengthen. On the other hand, when interest rates move up faster than what is suggested by the real economy (money shocks), things can look quite different. Interest rates elsewhere tend to go up more sharply as liquidity conditions tighten in major financial centres. Capital tends to flow out, especially from vulnerable emerging economies. Foreign activity is dampened. Spillovers then tend to be negative.

Guest Columnist

Hamid Faruqee

Bottom line So should we worry about higher interest rates? Not if stronger growth is the reason. We would happily take it over the alternative of lower interest rates and lower growth. However, the road ahead is a tricky one. Much will depend on how well the normalization process can be managed. That is, how smoothly can we transition along a path to higher growth and interest rates? And, given recent market trends, there may be further bumps along that road. Stay tuned.

On the other hand, when interest rates move up faster than what is suggested by the real economy (money shocks), things can look quite different Based on the report’s analysis, the chart below shows what have been the main drivers of higher U.S. longterm yields since the taper episode over a year ago. Notice what happened last summer. Against a backdrop of low market volatility, low spreads, and high asset prices, mere talk by the U.S. Fed of tapering its purchases came as a monetary shock or surprise to markets (blue area). Around this turning point, interest rates moved higher quickly. Market turbulence ensued. Negative spillovers were felt worldwide. The problem is that the central bank may have had little choice: if it felt market expectations and risk-taking had become too onesided, some course correction may have been needed. Whether fully intended or not, Fed

highs), this is something to watch out for. What else matters for spillovers? On the receiving end, spillovers from higher interest rates depend on local factors too. During the May 2013 taper episode, for example, spillover effects were not all the same. Instead, effects differentiated across emerging economies depending on their fundamentals and policies. Notably, those with higher external deficits or lower reserves, higher inflation or weaker growth were harder hit. Their interest rates rose or currencies fell by more. Moreover, risks can interact. Markets may reassess those economies with weaker fundamentals in the context of rising interest rates and tighter financial conditions. Thus, more vulnerable economies along these lines are the ones to watch out for going ahead.

OMOBABA

KESHI IS WORTH MORE THAN N10M MONTHLY - Agent

Faruque

communications during the episode have clear lessons going forward. Given an unconventional starting point—low interest rates and large balance sheets—major central banks face complex challenges when it comes to normalizing smoothly. If markets get well ahead of themselves, financial stability concerns may require higher interest rates even if growth is not stronger. With recent market volatility and spreads falling again to low levels and asset prices moving up (some at all-time

– Yes, for wobbling and fumbling at the last Mundial?

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