Binder1 june 9,2014

Sanctity of Truth Facebook.com/newtelegraph

Monday, June 9, 2014 Vol. 1 No. 111 Emmanuel Onani, Hassan Jirgi and Ugo Willies with agency report

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hree days after an explosion killed three soldiers in front of the residence of Gombe State Governor, Alhaji Ibrahim Hassan Dankwambo, another bomb exploded

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Female suicide bomber, soldier die in explosion at Gombe Army Barracks

lCameroun repels Boko Haram raid lEmir, district heads abandon domains over attacks yesterday morning in front of the 301 Artillery Regiment Quarter Guard in

Gombe claiming two lives.

According to sources, a woman suspected to be

a suicide bomber hid the explosives in her bag but the bomb went off prema-

turely before she could get to her target which is the military quarter-guard

that houses the office of the Commandant on Biu CONTINUED ON PAGE 4

Intrigues as Sanusi emerges Emir of Kano

lFashola, Amosun, Arisekola-Alao greet ex-CBN gov lPDP withdraws ‘hasty’ congratulations Muhammad Kabir Kano

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he immediate past Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi, was yesterday named the 14th Fulani Emir of Kano, to fulfil an age-long dream of the banker to mount the throne of his forefathers.

Sanusi, whose appointment to one of the most powerful thrones in the

Analysis on page 5

Ekiti State Governor, Dr Kayode Fayemi (right), protesting to the state Commissioner of Police, Mr. Felix Uyanna, over the attack on the governor and All Progressives Congress (APC) supporters in Ado-Ekiti...yesterday.

Second Term: Amaechi, Kwankwaso, Wamakko, others vow to stop Jonathan

North was announced by the Secretary to the Kano State Government (SSG), Alhaji Rabiu Sulaiman, succeeded Alhaji Ado Bayero, who died on Friday at the age of 83.

The four kingmakers who did the selection are the Makaman Kano, Sarki Ibrahim; the Sarki Bai, Alhaji Adnana; the CONTINUED ON PAGE 4

2015: 500 politicians to watch

lPolice fingered in attack on Fayemi as Ekiti boils after PDP’s rally lSambo moves to pacify aggrieved governorship aspirants Adesina Wahab and Onyekachi Eze of the Peoples Governors Democratic Party (PDP)

who last year defected to the All Progressives Congress (APC) have vowed to ensure the defeat of President Goodluck Jonathan

in the 2015 presidential election, if he seeks a second term in office.

Governors Chibuike Amaechi (Rivers), Rabiu

s

Kwankwaso (Kano), Aliyu Wamakko (Sokoto), Murtala Nyako (Adamawa) and Abdulfatah Ahmed (Kwara) had left the PDP

for the APC following irreconcilable differences between them and the ruling party leadership.

CONTINUED ON PAGE 5

}5

Edo: Oshiomhole, Anenih square up for Nigeria’s Heart Beat } 13-18

2 SPECIAL REPORT

Sanctity of Truth

Monday, June 9, 2014

How Fayemi restored public trust in governance

O

n October 16, 2010, when Dr. John Kayode Fayemi mounted the podium to take the oath of office as governor of Ekiti State, his main concern was how to restore public trust in governance in the state.

This is hinged on the fact that for a long time, there was distrust about government, its agencies, machinery and personnel in Ekiti. The widespread public cynicism was engendered by the bitter experiences of the people in the hands of politicians who failed to fulfil their electioneering promises.

Convinced that trust is fundamental to effective, responsive and representative government, Fayemi’s greatest initial challenge was how to rebuild trust in government as a mechanism for delivering public good.

Consequently, a detailed and clear-cut Ekiti State Development Strategy was designed with concrete inputs from all sectors of the economy.

The well-articulated plan, known as the Eight-Point Agenda, was launched by the Fayemi administration. The agenda is also known as the Roadmap to Ekiti Recovery. It included Governance, Infrastructural Development, Modernising Agriculture, Education and Human Capital Development, Healthcare Service, Industrial Development, Tourism and Environmental Sustainability, Gender Equality and Empowerment.

The primary thrust of the governance framework includes efficiency in service delivery, participatory governance, accountability and transparency at all levels of government.

As laudable as Fayemi’s developmental strategy was, there were initial challenges strong enough to dampen the spirit of a well-intended government. The administration inherited a huge debt burden in billions of naira and several abandoned projects. The state was among those that received the least monthly allocation from the federation account. To make matter worse, the Internally Generated Revenue (IGR) was poor.

But Fayemi has been able to lay the template for long-term diversification of revenue base from wholesome Federal Allocation into agriculture, services and tourism which has led to an unprecedented growth of IGR of the state from N109 million to over N600 million monthly.

Also, leakages in government’s finance have been plugged.

Participatory Governance

The administration has established an accountability framework and governance feedback mechanism through town hall and village square meetings; regular and direct interactive sessions with Ekiti indigenes upon which critical decisions are formulated.

The village square meeting was introduced for the sole purpose of getting the input of the communities into the budget.

It affords the government the knowledge of what each community wants and what it does not want.

The 2012, 2013 and 2014 budget documents are products of these interactions.

Governor Fayemi started the initiative in November 2011 when he toured all the 16 local government areas to ask for at least three projects each community would want to be included in the 2012 budget.

As at today, there is no community in Ekiti that has not benefited in terms of project execution.

General Hospital, Okemesi (maternity) (Now)

General Hospital, Okemesi (maternity ward) (Before)

Fayemi with public school children shortly after a live TV interview session with the children

Giant strides

Several roads of more than 400 kilometres have been constructed in Ekiti, including Federal Government roads. Many others are undergoing rehabilitation and complete reconstruction.

The government has established contacts and relationship with key development partners, bilateral and multilateral institutions.

Already, some of these partners (e.g. DFID) have established outposts in the state to support the government in its agenda of uplifting the state.

The biometric documentation for Ekiti State civil service workforce and adoption of a human resource development framework has been operational in the state.

Ekiti State government is the first in the South-West to implement the relativity pay for all categories of workers in the public service. Presently, the Fayemi-led administration has commenced implementation of the N19,300 minimum wage for all its workers.

Ekiti is also the first in the South-West to pay the CONMESS and CONHESS, which are consolidated salary structures for medical personnel.

Before Fayemi came on board, civil servants’ promotion was suspended for three years, but this has been carried out by the present administration as well as the resto-

ration of housing and car loans for the state workforce.

The government has also been honouring its commitment to its pensioners through prompt payment of gratuities and pensions.

The state government has been mopping the unemployment market with innovative programmes such as the Ekiti State Traffic Management Agency and Volunteer Corps.

The administration created the Ekiti State Traffic Management Agency which has employed about 500 young men and women.

Also, 7,500 non-skilled old and young volunteers have been employed as facility managers and street sweepers.

The government pays a monthly stipend of N10,000 to volunteer corps. As at now, there are 5,000 volunteer corps members currently benefiting from the scheme.

The Fayemi-led administration has embarked on continuous distribution of artisan tools such as hair driers, sewing machines and vulcanizing machines to artisans to reduce poverty.

The provision of social welfare security through the payment of monthly stipend of N5, 000 to elders in the state above 65 years of age has impacted on thousands of lives who have lost hope. Over 20,000 are currently benefiting from the welfare scheme.

In the past three years, the Fayemi-led

administration has demonstrated its commitment to the development of the state’s potential in agriculture. The government has been providing avenues for gainful employment. The Youth Commercial Agriculture Development (YCAD) has encouraged and enticed youths into agriculture, raising the performance of the state in the sector. The government has also established Agricultural/Community Skill Training Centres across the 16 local government areas of the state to train youths in various aspects of agriculture such as Sericulture, Poultry, Fishery and production of arable crops.

Also, through the Commercial Agric Credit Scheme (CACS), loans are being disbursed to farmers through a commercial bank to boost food production.

Quality healthcare service delivery is the fifth pillar in the eight-point agenda of the administration and is one of the important standpoints of the Millennium Development Goals (MDGs).

Some of the major accomplishments in the health sector include: Free distribution of drugs and consumables; Procurement and distribution of 34 Laptops, 16 units of 10KVA Elipaq Generators, 24 Haematocrit Centrifuges, 8 Scanning Machines, 34 Modern Delivery Beds, 150 hospital beds, 10 units of Solar Freezers and 3 units of Dental Chairs to state hospitals.

All the 18 General Hospitals in the state are undergoing renovation and three Mother and Child Hospitals are being constructed. To prevent avoidable deaths, the Funmi Adunni Olayinka Diagnostic and Wellness Centre has been established for early detection of cancer related ailments. There are free medical services for children, pregnant women, senior citizens and the physically challenged.

The Fayemi-led administration has made remarkable achievements in the education sector with procurement and distribution of over 30,000 laptops to students and 18,000 to teachers of senior secondary public schools in the state.

There is compulsory free education at primary and secondary levels.

The administration is boosting the morale of teachers with the payment of car and housing loans and regular payment of salaries and allowances.

So far, 183 secondary schools and 836 primary schools across the 16 local government areas have been renovated under the Operation Renovate All CONTINUED ON PAGE 3

SPECIAL REPORT 3

Sanctity of Truth

Monday, June 9, 2014

T

he infrastructural development agenda of the Kayode Fayemi-led administration is encapsulated thus: “Establishing optimum communities that will improve citizens’ lives and attract investment; by 2014, all parts of Ekiti to be accessible by major roads; making water dams in Ekiti functional to increase water supply by 80%; public private partnership for independent power projects.”

In his inaugural address on October 16, 2010, Dr. Fayemi described the state of infrastructure and public utilities as “public nightmare.” He spoke passionately about his developmental vision for Ekiti.

The governor believed that the provision of necessary infrastructure such as roads, power, water, and security create a conducive environment for the growth of the economy, and most especially for small businesses to thrive.

Hence, as soon as he settled down, the governor began processes of holistic transformation of the state along the line of his administration’s Eight-Point Agenda, which had infrastructural and industrial development as second and sixth items respectively on it.

The Special Adviser to the Governor on Infrastructure, Mr. Kayode Jegede, lamented the state of decay of infrastructure in the state before the inception of the present administration.

“Water was not flowing at all anywhere in the state, many communities in the state were in darkness as they could not access electricity from the national grid, necessary physical infrastructure needed in the capital city were not in place. Worse still, the state did not have an e-mail, much more having anything to do with ICT,” he said.

Infrastructure: From public nightmare to an enduring legacy

Fire fighting trucks and equipment of Ekiti State Fire Service

Roads

The road situation in the state before Fayemi came to office, according to the Senior Special Assistant to the Governor on Roads, Hon. Sunday Adunmo, “was terrible and messy.”

Adunmo added: “The roads in all parts of the state were in a total state of disrepair. What we had then was Road Revolution as signpost on vehicles without the translations on the roads.”

In view of the importance of roads to the socio-economic development of the state, the governor committed a chunk of the bond he sourced from the Capital Market to the construction, reconstruction and rehabilitation of roads across the state.

The result: Good roads today litter the state even in the rural areas and places erstwhile believed to be impossible with over 700 kilometres made up of intra-state and township roads completed by the present government, while many others are ongoing.

To ameliorate the deplorable state of roads in the state, the Fayemi administration has constructed over 400 kilometers of asphalt paved intra city, intercity and interstate roads.

Among road projects initiated and completed by the Fayemi administration are: IjigboIsato-Ile Abiye Road (1.8km); Dualization of Old Garage-Ojumose Road (0.8km); Dualisation of Atikantan-Nitel-Baptist Road (0.9km); Rehabilitation of Ado Township roads (Group A) 6.87km; Fajuyi–University Teaching Hospital Road (1.65km); Ojumose-Basiri/Police Hqrs (Iyin Road) 4.9km; Ijigbo-Baptist College (Ilawe Road)3.62km; Aladesanmi Crescent Road, Ekute Qtrs, Ado-Ekiti (0.6km); Rehabilitation of Ado Township roads (Group C) 9.7km;

Water treatment plant at Efon Alaaye

Adunmo said the less than N20 billion investment in roads was targeted at attracting investors to the state; ensuring comfort, safety and security of road users; aiding transportation of farm produce and as well boosting agriculture; among others.

The new look roads in the state have, no doubt, engendered accelerated growth in socio-economic activities and strengthened the state’s competitiveness and attractiveness to both domestic and foreign investors and thus increased citizens’ propensity to access economic opportunities.

Potable water

Dualised Ado-Iyin road

Ado-Afao Road (10.745km); Ikogosi-Ipole Iloro-Efon Road (24km); Ilawe-Igbara odo-Ibuji Road (17km); Ikole-Ijesa Isu-Iluomoba Road (23km); Ijero-Ipoti-Ayetoro Road (17km); Igede-Awo-Ido Road (24km); Odo Owa-Oke Ila Road (6km); Irele-Ponyan Road (11.64km); Erijiyan-Ilawe Road (14.3km); Ikere-Emure Road (30km); and Ijesa Isu-Ode Road (10km).

The administration is also committed to the provision of potable water across the state. This is in a bid to improve the health conditions of the citizenry and stimulate rapid in-

dustrialisation.

Some of the steps taken to improve on the water infrastructure include: Transfer of the management of dams and mini schemes to the management of the state water corporation; improving the output of existing water works; setting in motion the process for the complete rehabilitation of abandoned wa-

Fayemi’s industrialisation agenda for Ekiti CONTINUED FROM PAGE 2

Schools in Ekiti (ORASE). Sets of lockers and chairs have also been supplied to these schools. Education is free and compulsory up to senior secondary school. Government pays WAEC registration fees for candidates in public senior schools. Government also purchased computers for teachers and students in the senior secondary schools.

Industrialisation agenda

There have been efforts to ensure the industrial development of Ekiti. The for-

mer Odua Textiles has been transformed into the Odua Skill Acquisition Centre.

Artisan’s Village, Modern Industrial Park, Computer Accessories and Electronic Market have been established. Also established are the Starch/Fructose Processing Factory, Arewa Cotton/South West Cotton Farm and Ginnery, Alpha Rolling Mill, JKF Fabric Market, Palm Kernel Industry; Plywood, POP and Doors Industry, and Ceramic Tiles and Sanitary Ware Industry.

While the Ire Burnt Bricks has undergone turn-around, mining activities have commenced by the Fountain Solid Miner-

als Company in Itawure, Orin, Isan and Ijero. Exploration of Kaolin in Isan Ekiti and Aluminum bauxite in Orin Ekiti has also commenced.

In its efforts to make Ekiti State a most attractive destination for relaxation and holidays, the Ikogosi Warm Springs Tourist Centre has undergone a tremendous turn around and renewal. Heritage sites are being identified, acquired and developed. A Film Village and Ekiti State Council for Art and Culture have been established.

The Ogun Onire grove covering 300msq has been surveyed.

ter works in the state; award of contracts for the supply and installation of High Lift Pumps for eight communities; procurement of 2500KVA power generating set for Ero Dam to ease water supply to people in 10 local government areas of the State; extension of water pipelines within Ado-Ekiti.

There are also plans to increase distribution density through the reactivation of dormant pipelines, laying of new pipes, improving pumping capability and building of more water treatment plants in the state; construction of concrete reservoirs in two communities.

Other infrastructural development

As access to power supply remains an incentive for establishment of businesses – small or large scale and a means of checking rural-urban drift, the Fayemi administration considered it a priority, hence the investment in the sector to benefit the populace.

Already, over 150 transformers have been purchased and distributed to boost power supply in several communities across the state and intensify electrification of other numerous communities leading to a massive boost in economic activities and further unlocking citizens’ access to diverse opportunities.

Moreover, the administration had in three years completed rural electrification of over 15 new towns.

Other infrastructure in place by the administration include the Legacy Projects and other public buildings in the state capital, as part of the design to ensure the state capital has necessary infrastructure.

They are the Civic Centre, New Government House, State Mega Pavilion and New Governor’s Office which are at different stages of completion, while the new State House of Assembly, Deputy Governor’s Office and Oluyemi Kayode Stadium rehabilitation among others have been completed.

The administration has also inaugurated an urban renewal programme and a beautification project which have, in addition to the infrastructure development, transformed the physical outlook of the capital city where the pilot schemes have taken off.

Today, Governor Fayemi can beat his chest to say: “Our administration has achieved very significant progress in the area of infrastructural development across the state. We have worked hard to create the optimal physical environment that would stimulate economic activities, as well as improved security of lives and property.”

4

NEWS

Sanctity of Truth

Monday, June 9, 2014

Sanusi: PDP withdraws ‘hasty’ congratulations CONTINUED FROM PAGE 1

Sarki Dawaki Mai Tuta, Alhaji Bello Abubaka and the Madakin Kano, Yusuf NaBuhari.

It was learnt that the kingmakers submitted their shortlist of four candidates, two each from the Sanusi dynasty and the Alhaji Ado Ruling House to the governor.

They were said to have sent four nominees to the state governor, Dr. Rabiu Kwankwaso, to pick one who would be crowned the new emir.

Among the four names submitted were those of Sanusi and one of the sons of the late Bayero, Sanusi Lamido Ciroma, a lawyer.

Kwankwaso had on Saturday assured reporters after a visit by the four kingmakers to his office that barring any sudden development, a successor to the late Bayero would be announced yesterday.

“The kingmakers, led by their chairman, are here to condole with me over the death of our emir and I want to assure you that we would announce the new emir on Sunday,” he had said.

The announcement of

TODAY’S WEATHER FORECAST LAGOS

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27o C 23oC Thunder Storms

KANO

39oC 25oC Mostly Sunny

ENUGU

32o C 24oC Isolated Storms

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28oC 16oC Sunny

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29oC 23oC Storm

MAIDUGURI

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39oC 28oC Partially Cloudy

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Sanusi as the new Emir of Kano received instant commendations from Lagos State Governor, Mr. Babatunde Fashola, his Ogun State counterpart, Senator Ibikunle Amosun and Aare Musulumi of Yorubaland, Alhaji Azeez

Arisekola-Alao.

However, the Peoples Democratic Party (PDP), which had earlier issued a congratulatory statement following a report that Alhaji Sanusi Lamido Ado Bayero had been named the new emir immediately

withdrew it because the statement was not authorised.

It was gathered that the announcement of Sanusi as the next Emir of Kano, caused some concerns in some quarters, especially following an initial report

that the late Bayero’s had been named the new emir.

But the state government laid to rest speculations over who will succeed the late Bayero as Sanusi was announced the new emir after meetCONTINUED ON PAGE 6

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

L-R: Former Gombe State Governor, Senator Danjuma Goje; former acting National Chairman of the Peoples Democratic Party (PD), Alhaji Kawu Baraje; Senator Bukola Saraki, Kano State Governor, Dr. Rabiu Kwankwaso and former Lagos State Governor, Senator Bola Tinubu, during a condolence visit to Kwankwaso in Kano…at the weekend

Cameroun repels Boko Haram raid, kills two militants CONTINUED FROM PAGE 1

road, Gombe.

Immediately the explosion occurred, soldiers cordoned off the road leading to the barracks.

Also, shops and other business centres which were open at that time were hurriedly closed by their owners, while many other people ran helter-skelter.

The Defence Headquarters (DHQ) has said that troops, yesterday, foiled an attempt by a female suicide bomber, to hit a Barracks in Gombe.

A statement by the Director of Defence Information (DDI), disclosed that the “lady” suicide bomber, “had primed herself with improvised explosive devices concealed under her Hijjab.”

The statement added that the bomber and one of the soldiers that intercepted her, died in the process.

The statement reads: “Troops mounting a security check point at a Barrack entrance in Gombe this morning intercepted a lady suicide bomber while she was attempting to gain entry into the barracks.

“The lady suicide bomber who had primed herself with improvised explosive devices concealed under her Hijjab, was intercepted when troops acting on intelligence report indicating that a terrorist group was plotting to attack Barracks around Gombe using female suicide bombers,

halted her and as she was being searched the bomb detonated killing the lady.

“Unfortunately, one of the troops conducting the search also died while another was wounded in the explosion.

“Normal activities have since resumed in the barracks.”

It would be recalled that an armoured tanker stationed in front of the residence of Governor Dankwambo exploded, killing three soldiers and injuring six people last Thursday night.

In another development, suspected Boko Haram militants from Nigeria attacked a town in Cameroun’s far north on Saturday but local security forces fought them off, killing at least two gunmen, Cameroon’s government said.

Nigeria has accused Cameroun of not doing enough to tackle Boko Haram, which grabbed global attention in April by kidnapping over 200 girls from a school and has killed hundreds of civilians in northern Nigeria since then.

Cameroun recently deployed 1,000 troops to the area and the attack in the Mayo Tsanaga Division in the Far North Region is the latest in a series of clashes between Cameroun security forces and the group.

Cameroun government spokesperson, Issa Tchiroma Bakary, said a raid

was carried out early on Saturday morning by 50 well-armed gunmen believed to be members of Boko Haram.

“Our defence and security forces fought back immediately. They killed two of the assailants, seized one of their vehicles and a Kalashnikov war weapon, forcing them to run back crossing the border into the Nigerian territory,” he said.

According to Reuters, he did not say if any government troops were killed or wounded in the fighting.

Boko Haram has waged a five-year campaign of attacks on civilians and security forces in northern Nigeria but the mass kidnapping of the girls in April focused world attention and drew pledges of a regional coordinated push against them.

A number of Westerners have been kidnapped in Cameroun’s remote north over the last year but Yaounde has until now adopted a low-key response to the threat from across its long border with Nigeria.

Nigeria’s head of counter-terrorism said last month Cameroun was the weakest link in the regional fight against the group.

Cameroun security forces killed 40 militants in fighting a week ago, shortly after reinforcements were sent to the far north.

Meanwhile, Emir of

Gujba, Mai Muktari Idrissa Ali Gangarau, districts heads, village heads, farmers, civil servants, politicians and Islamic scholars, in Buni-Gari and Buni-Yadi in Gujba Local Government Area of Yobe State have fled to Damaturu, the Yobe State Capital, following the torching of their houses and market by suspected Boko Haram members.

New Telegraph gathered that many residents of the areas abandoned their houses for fear of attack by insurgents.

Those who spoke to our state correspondent in Damaturu at the weekend said that the two villages of Buni-Yadi and BuniGari, were attacked by the insurgents, killing over 40 persons and burning many buildings.

A village head who fled to Damaturu, the state capital, said: “We cannot remain in our domain and other villages as the houses, schools, local government secretariat and police station, were burnt by gunmen who also killed many peoples on that fateful day.”

A source from the special battalion operating in Damaturu however told New Telegraph that the military was on top of the situation as many soldiers, policemen were patrolling the affected villages in Gujba Local Government of the state.

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

NEWS

Sanctity of Truth

Monday, June 9, 2014

5

For Sanusi, a dream come true

Isioma Madike

T

he race to succeed the late Emir of Kano, Alhaji Ado Bayero, ended yesterday, with the emergence of the immediate past Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, who holds the traditional title of Danmajen Kano, at the occupier of the throne.

He beat three others, including his uncle, Sanusi Abbas, who holds the title of Wamban Kano and Sanusi Ado Bayero, the late Emir’s first son, who is the District Head of Gwale to the throne.

There were indications at the weekend that Kano State Governor, Dr. Rabiu Kwankwaso, might go for Sanusi, even though, the kingmakers and most influential indigenes of Kano were said to have favoured Sanusi Ado Bayero.

The governor is in the opposition All Progressives Congress (APC) and Sanusi, until he was suspended, fought a running battle with President Goodluck Jonathan and the ruling Peoples Democratic Party (PDP).

Kwankwaso was said to have met behind closed doors with the kingmakers for several hours, in what insider sources called a meeting to assess the person who will succeed Bayero.

The governor was also said to have met with Danmasanin Kano, Alhaji Yusuf Maitama Sule, at the Government House before the meeting with the kingmakers.

The appointment was a dream come true for Sanusi, who had never hidden his ambition to occupy the throne. On his first working day after his

installation as Dan-Majen Kano in June 2012, Sanusi discarded the traditional suit, shirt and tie attire of a top notch banker and came to the office in the full regalia of his chieftaincy title.

Sanusi, who was awarded the National Honour of Commander of the Order of the Niger (CON)

by Jonathan on July 22, 2010, hails from a family with a very long tradition of public service. His father, Muhammad Lamido Sanusi, was a technocrat and a career diplomat, who served as the Permanent Secretary of Federal Ministry of Foreign Affairs after serving as Nigerian Ambassador to Canada, Belgium and China.

He is also the grandson of the 11th deposed Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi.

As a prolific writer, Sanusi has written and presented numerous papers at national and International conferences and seminars bordering on banking, politics, religion and society.

Many of his papers have been published in academic/professional journals, books and newspapers around the world.

He was once quoted to have said in one of his numerous interviews as saying that the most important thing in his mind, is to become the Emir of Kano.

Even though, it is constitutionally recognised that it is the governor of a state that has residual powers to deal with chieftaincy matters, there were several pointers in the direction of Sanusi facing a tough time in realising his dream as the new Emir.

There has been allegation of the former CBN Governor courting the op-

Sanusi

position party stalwarts like former Federal Capital Territory Minister, Malam Nasir El-Rufai, Senator Bukola Saraki and others in the opposition All Progressives Congress (APC).

But with Kwankwaso being a staunch member of the opposition party, that made the journey to the throne much easier for Sanusi.

As was expected, poli-

tics took the centre stage on who takes the vacant stool. Sources said top echelon of APC were in Kano where they intensified lobby for the emergence of Sanusi as the new Emir.

Sanusi had a stormy tenure as CBN governor and perhaps it was in preparations for the throne that he wrote the president that he would not be interested in his appointment being

renewed for another term.

He was appointed governor in the middle of a global financial crisis with the banking system on the verge of collapse due to large exposure to the stock market in the form of bubble capital and excessive margin lending by some banks, as well as concentration of lending to other areas like petroleum marketing.

Under his leadership, the CBN moved swiftly and boldly to implement far-reaching reforms in the banking Industry aimed at addressing the root causes of the crises in poor corporate governance and risk management practices, management fraud, insider abuses and weak regulation supervision and enforcement.

A joint audit exercise carried out by the CBN and the Nigerian Deposit Insurance Corporation (NDIC) revealed that eight of the 24 deposit money

banks in the country were in a grave situation leading to the removal of the management by the CBN and injection of bail-out funds to stabilise the institution. The first set of intervention occurred on August 14, 2009. Since that date, the CBN has issued guidelines and implemented new regulation as policies to protect a shock in the financial system.

In February, Sanusi was suspended from office by the president on the allegation of financial misconduct and other far reaching irregularities.

The politics involved in his suspension was adjudged by many to be more than the administrative uprightness that is supposed to be sought.

With his emergence as the Emir of Kano, Sanusi has not only realised a lifetime ambition, Kano has got itself a traditional ruler who will shape its future in no uncertain ways.

L-R: Mr. Tajudeen Olusi; Senator Oluremi Tinubu, representing Lagos Central Senatorial District; and former Minister of State for Defence, Mr. Demola Seriki, during a press conference in Lagos…yesterday

2015: Amaechi, Kwankwaso, Wamakko, others vow to stop Jonathan CONTINUED FROM PAGE 1

The governors, in an apparent response to President Jonathan’s attack on them last Thursday at the PDP National Executive Committee (NEC) meeting in Abuja that the party did not miss them and described them as political lightweights who could not win their wards, said they would prove their electoral worth by stopping the president in next year’s election.

Former National Publicity Secretary of the defunct New Peoples Democratic Party (NPDP), a faction of the PDP they formed with others such

as former Vice-President Atiku Abubakar and former Kwara State Governor, Senator Bukola Saraki, before joining the PDP, Chief Eze Chukwuemeka Eze conveyed the determination of the governors to work against the president in a statement yesterday in Port Harcourt.

Their determination to stop Jonathan came on a day violence broke out in Ekiti State ahead of the June 21 governorship election as thugs and the police were accused of attacking APC members after they had gone to sweep off “the footprints of PDP’s members,” a symbolic gesture

to show that Ekiti people did not want the opposition party in the state.

Two people were shot dead in the attack while the police allegedly fired tear gas canisters at the car of the Governor, Dr. Kayode Fayemi.

Vice-President Namadi Sambo, a day after the PDP rally, at which the party’s governorship candidate, Mr. Ayodele Fayose, was presented with the PDP’s flag, also met with aggrieved governorship aspirants of the party and solicited their support for Fayose’s victory.

In a formal reaction by Amaechi and Kwankwaso

to Jonathan’s description of them as political lightweights, the governors, in the statement, urged the president “to prepare for a grand political war come 2015.”

As exclusively reported

by New Telegraph on Friday, Kwankwaso, Wamakko, Ahmed and Nyako, had earlier dismissed the president’s claim and told him to wait till 2015 before he could reach such a conclusion.

The governors said they would work together with other democratic forces in APC to rescue Nigeria from “the doom towards which Jonathan and PDP

are inevitably leading the country to.”

They described the president’s statement as shocking and ridiculous considering that he would not have been elected if not for the sacrifices of the governors which ensured that he won both the PDP presidential primaries and the 2011 presidential election.

“It is on record that Rivers State under Amaechi’s watch made Jonathan’s presidency possible by delivering over two million votes in his favour during the 2011 presidential poll.

For the same Dr. Jonathan to turn around, only three

years down the line, to describe Governor Amaechi as a political lightweight who cannot win his ward speaks volumes about how ungrateful and uncharitable a man he is,” the statement added.

It also faulted the vote of confidence the PDP passed on the president on his handling of the security challenges facing the country.

It said: “By commending President Jonathan at a time when he has proved to be completely overwhelmed by the security challenges confronting Nigeria, PDP has demonCONTINUED ON PAGE 6

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Monday, June 9, 2014

Fashola, Amosun, Arisekola greet new Kano emir CONTINUED FROM PAGE 4

ings with various stakeholders.

The naming of Sanusi means the return of the throne to his side of the family after the dethronement of his late grandfather, Muhammadu Sanusi, who ruled from 1954 to 1964 and was deposed by the then Northern Premier, the late Sir Ahmadu Bello, the Sar’dauna

of Sokoto.

Sanusi, born in on July 31, 1961 in Kano, obtained degrees in Economics and Islamic Law from the Ahmadu Bello University, Zaria and the International University of Africa, Khartoum.

After teaching economics for two years at the Ahmadu Bello University, he started a banking career in 1985 with Icon Limited (Merchant Bankers) and

later worked with the United Bank for Africa Plc and First Bank of Nigeria Plc. Although he held many positions during his banking career, he made a name for himself as a risk manager, having distinguished himself as the Chief Risk Officer in UBA and First Bank.

He was the Group Managing Director/ Chief Executive officer of

First Bank before he was named CBN governor in 2009.

He had a stormy tenure at the CBN, culminating in his suspension by President Goodluck Jonathan on February 20, 2014 on allegation of “financial recklessness”.

Congratulating the new emir, Fashola, in a statement, wished the former CBN governor long and fruitful reign and hoped

A cross-section of the kingmakers, during the announcement of the new Emir of Kano, Sanusi Lamido Sanusi, in Kano…yesterday

that his emergence would further cement the longstanding bond between the people of Kano and their brothers and sisters in Lagos and across the country with whom, he said, they have been living in peace and harmonious relationship.

Fashola said Sanusi’s election was a deserving feat for the former CBN helmsman who has endeared himself to the Nigerian public with his brilliance, courage, professionalism and tact, saying his tenure as CBN boss was very eventful and quite useful to moving the country forward.

Amosun also hailed the choice of Sanusi as the new emir, saying he will bring his wealth of experience to bear in the appointment.

In a statement by his Senior Special Assistant on Media, Mrs. Olufunmilayo Wakama, Amosun urged the emir to follow in the footsteps of the predecessor by bringing further development to the emirate and the state as a whole.

“As an accomplished technocrat, I believe the new emir will use his influence to foster peace and attract more development to the emirate and indeed the State,” the governor

said.

Also, Arisekola-Alao, described the appointment of Sanusi as “the wish of the Almighty Allah who gives power to whom He pleases.”

Meanwhile, the PDP yesterday withdrew a statement where it congratulated Alhaji Sanusi Ado Bayero as the new emir.

The party in a statement by its National Publicity Secretary, Chief Olisa Metuh said: “Our attention has been drawn to an unauthorised statement issued on behalf of the National Publicity Secretary of the PDP by his Special Assistant, Mr. Richard Ihediwa, congratulating the eldest son of the late Emir of Kano, Alhaji Sanusi Lamido Ado Bayero, as the new Emir of Kano.

“Mr. Ihediwa relied on a false news flash on the AIT and issued a statement in that direction without approval from the National Publicity Secretary, Chief Olisa Metuh.

“We hereby dissociate with the statement earlier issued and regret the embarrassment this may have caused the entire nation, the Kano Emirate and the good people of Kano State.”

Second Term: Amaechi, Kwankwaso, Wamakko, others vow to stop Jonathan CONTINUED FROM PAGE 5

strated without any reasonable doubt that it has lost its sense of value.”

Also yesterday, Sambo met behind closed doors with aggrieved PDP aspirants in Ado-Ekiti as well as with some stakeholders of the party in the SouthWest geopolitical zone.

The Ekiti State PDP Chairman, Chief Makanjuola Ogundipe, who briefed journalists at the end of the three-hour meeting, said the vice-president addressed all issues relating to the well-being of the party and preparations for the June 21 governorship poll in the state.

On the demands by some former aspirants that the money they paid for expression of interest and nomination forms, totalling N11 million be refunded, Ogundipe said all the issues raised by them were being addressed.

It was learnt that Sambo told the party chiefs to rally round Fayose and ensure his victory come June 21.

Besides, Sambo advised PDP members in the state against being provoked by any political party to resort to self-help.

Meanwhile, violence erupted in Ado-Ekiti yesterday as APC and PDP supporters clashed during the symbolic ceremony to show that Ekiti people did not want PDP in the state.

In the attack, a man was shot dead and many people were injured while some vehicles and motorcycles were destroyed.

Also, tear gas canisters were fired at the convoy of Fayemi, leading to an altercation between him and the Commander of the MOPOL Unit in the state, Mr. Gabriel Selekere.

The vehicle of a former Deputy Governor, Dr. Sikiru Tae Lawal, a leader of the PDP, was also damaged by some political thugs.

It was gathered that APC members, led by the state chairman of the party, Chief Jide Awe, had taken off to sweep away the perceived ‘evil’ footprints of the PDP leaders, when they clashed with PDP members on their way.

Awe, who later briefed the press on the issue, said he was on the mobilisation effort with Senator Femi Ojudu and a member of the House of Representatives, Oyetunde Ojo, among others, when Sele-

kere and his team accosted them.

“The MOPOL commander said he had an order to disperse us. We wanted to dialogue with him but he replied us with gunshots and tear gas and one person was killed.

“He pounced on our vehicles damaging three and many of our members were arrested and some were injured. The man said he came to Ekiti State to safeguard the interest of the president. We want to let them know that nobody has the monopoly of violence.

“We are calling on the Inspector General of Police to within 24 hours redeploy the MOPOL commander and the Commissioner of Police,” Awe said.

However, Ogundipe gave a different account of the incident as he accused Fayemi of causing chaos in the state.

“Fayemi led some thugs to Ijigbo Junction in his official capacity as the governor of the state.

If Fayemi is afraid of his impending loss in the election, he should not be shy or ashamed to voluntarily resign from office.

“I don’t know why a governor should personally supervise such a heinous crime. They are claiming that the person shot dead was APC member and that they were together in their mobilisation rally.

Why were they not able to give his name? The fact is that the person killed was a passenger on Okada and it was the APC people who covered him with their vest,” Ogundipe stated.

The Police Public Relations Officer (PPRO), Ekiti State Command, Victor Babayemi, an Assistant Superintendent of Police (ASP), said in a statement that eight persons were arrested in connection with the incident.

He however denied any attack on Fayemi.

He said: “While the Commissioner of Police and the State Director of the Department of State Security Service were physically mobilising more men from the Police Mobile Base, Okesa, AdoEkiti, they were intimated about the plan of the governor to visit the scene of the ongoing incident.

Considering the situation on ground, the CP and the Director SSS reached out

to the governor through his ADC and Chief Security Detail, who had earlier called them to intimate them of their intention, not to visit the scene until the situation has been brought under control.

However, the advice was not heeded.

“The CP having mobilised reinforcement, proceeded to the scene in company with the SSS Director where they met the governor. He narrated his encounter with the riot policemen which he found unacceptable. Once again, he was advised by the CP and SSS Director to leave the scene due to the situation on ground, which he heeded. Thereafter, the injured victim was rushed to the teaching hospital on the instruction of the CP and the SSS Director.”

But the APC, in a statement disputed his account, saying riot policemen led

by Selekere shot dead a member of the party.

It also accused the police of holding Fayemi hostage for about 45 minutes at the Ijigbo junction, and firing tear gas on the governor’s car while his security aides were disarmed and one of them

arrested.

It was learnt that a furious Fayemi had confronted the state Commissioner of Police, Mr. Felix Iyanna, demanding explanation for the police alleged brutality. But Iyanna was said to have denied ordering the attack on the APC supporters.

“I am here to protect you,” he told the governor.

But Fayemi fired back, saying: “You are here to protect me and your men were shooting at me? I am the chief security officer of this state and your men were firing at me. You have killed someone now!

You have killed someone!

Whose interest are you protecting? Whose interest are you protecting?”

The governor, who later addressed APC supporters said the attack was a rehearsal of what the PDP and the police intended doing during the governorship election.

According to him, Ekiti people will not allow anybody to return the state to the era of slavery and terror.

He urged them to continue to be law-abiding; saying no one could harm them.

Chekwas pays tribute Yekeen Nurudeen ABUJA

T

he United Progressive Party (UPP) has joined Nigerians paying tributes to the late former minister, Dora Akunyili who died of a cancer-related ailment on Saturday in a Indian hospital.

The National Chairman of the party, Chief Chekwas Okorie in a statement issued in Abuja yesterday said the late Director General of NAFDAC was a foremost patriot and a role model for all public office holders.

"She put her life on

the line to save millions of other lives who would have perished as a result of fake drugs. She survived all the plots by the merchants of death but only succumbed to death when the Almighty God chose to recall her having lived a very worthy life in spite of not attaining old age." He said " We condole with her family especially her husband, Dr. Chike Akunyili, who stood by her in all her struggle in public service and all through her period of sickness.

May her noble and valiant soul rest in the bosom of the Lord," he added

She was a fearless Nigerian –PDP Onyekachi Eze ABUJA

T

he Peoples Democratic Party (PDP) has described the death of Prof. Dora Akunyili as a great loss to Nigeria.

In a statement yesterday by its National Publicity Secretary, Olisa Metuh, the party said the former Director-General of the National Agency for Food, Drug Administration and Control (NAFDAC) was a great Nigerian, an exceptionally brilliant academician, a consummate and energetic administrator who excelled in all her given assignments.

PDP added that Dora would always be remembered “as a fearless Nigerian, a great African and an amazon who risked her life severally to save the lives of others with her unprecedented fight against fake and counter-

NEWS

DORA NKEM AKUNYILI (1954 - 2014)

Sanctity of Truth

Monday, June 9, 2014

feit drugs in the country.

“As a minister of information, she deployed her best in the effort to rebrand and reposition the image of the nation and rekindled the spirit of patriotism among the people with her 'Good people, Great nation' campaign”.

The statement noted that even in her battle with cancer, Akunyili demonstrated her love for the nation by making herself available as a delegate to the ongoing National Conference where she made very useful contributions for the stability and growth of the nation.

PDP condoled with the Akunyili family, the good people of Anambra State, the academic community and the entire nation for the loss and prays God to grant the bereaved the fortitude to bear the loss.

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Akunyili: A jewel, workaholic, EULOGY says Obasanjo From Abeokuta, former President Obasanjo mourns ex-NAFDAC boss

Kunle Olayeni ABEOKUTA

F

or mer President Olusegun Obasanjo yesterday paid tribute to the former Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Dora Akunyili, who died at the weekend.

Obasanjo, who spoke in Abeokuta, the Ogun State capital, said Akunyili made a great impact on the nation's health

7.9m

sector with her "successful crusade" against fake and substandard drugs.

The president said the demise of the exNAFDAC boss was a monumental loss to the country, which, according to him, "needs men and women of Dora Akunyili's high integrity, industry, patriotism and honesty."

He observed that the menace of fake drugs could have taken a heavy toll on Nigerians if not for the vigorous campaign by Akunyili.

"The deceased could best be described as one of the jewels in the glamour of my administration. I am shocked,

The total population of Peking, China in 2010.

Source: Blatantworld.com

because she could not survive the traumatic transfiguration of a once active and vibrant person," he added.

Obasanjo noted that the vacuum created by Akunyili's death could be filled when the country searches and motivates Nigerians of high integrity and standard.

He said, "There are two things involved.

One, is to search for the person. Men and women of such standing abound. Secondly, after the search, we have to tap them, motivate them and ensure that they are well directed.

"Akunyili was a workaholic member of my

170m

The total area (in hectares) of land equipped for irrigation farming in 1970.

Source: Unesco.org

administration. I sincerely appreciated her service. Her life made a great change in one specific area; the fake drug. She was there; everywhere to fight the fake drug war, which could have been fatal if she had not taken the bull by the horns."

While praying God to grant repose to the soul of the late Akunyili, Obasanjo said he was using the moment of grief "to commiserate with the entire Nigerian citizens, particularly, the people of Anambra State over the loss of this great icon of this country, who threw everything she had into the service of her fatherland."

405,024

The number of fixed-telephone subscriptions of Cyprus in 2011.

Source: Itu.int

Confab grieves over her passage Onwuka Nzeshi ABUJA

T

he National Conference yesterday expressed shock over the demise of yet another delegate, Professor Dora Akunyili, who died last Saturday in India.

Akunyili's death brings to three the number of such incidents recorded in the life of the conference since it was inaugurated on March 17, 2014.

In a statement issued by the Assistant Secretary, Media and Communications of the National Conference, Mr Akpadem James, Akunyili's death was a great loss coming at a time her contributions were most needed in the quest for a better country.

Chairman of the conference and former Chief Justice of Nigeria, Justice Idris Kutigi, expressed sadness at the demise of Akunyili whom he described as one of Nigeria’s finest administrators. On behalf of the principal officers and delegates to the con-

ference, Kutigi expressed condolences to the family of the deceased.

Akunyili’s death was preceded by the death of Hamma Misau, a delegate on the platform of the Retired Police officers, from Bauchi State, on Thursday, March 27, 2014, shortly after the conference lost Dr Mohammed Jumare, a delegate from Kaduna State who died on Monday May 5, 2014.

Senior Special Adviser to the President on Research and Documentation, Mr Oronto Douglas, has commiserated with the Conference. Douglas described the late Professor Akunyili as “a most amazing patriot who dedicated her life to defence of our country.”

In a special tribute to the memory of Akunyili, a former Governor of Anambra State and delegate to the National Conference, Dame Virgy Etiaba expressed sadness at the demise of Akunyili, a woman she described as a great amazon and trailblazer for the Nigerian woman in public service.

Late Dora Akunyuili, speaker at the National Confab, Abuja before death

Fayemi, Fashola, Ashafa mourn Muritala Ayinla, Sola Adeyemo, IBADAN

G

overnor Kayode Fayemi of Ekiti State and his Lagos counterpart, Raji Fashola expressed their grief over the death of the former information minister.

While Fayemi described her death as devastating, Fashola described her as “a different breed”.

Fayemi in a statement by his Chief Press Secretary, Mr Yinka Oyebode, said Akunyili's death has robbed Nigeria of a committed patriot and a selfless servant of the people.

Fayemi expressed deep regret that another precious jewel of the nation has been lost to the scourge of cancer.

He said Akunyili would be remembered for the prominent role she played in leading the fight against fake, substandard and adulterated drugs.

Akunyili, according to him, excelled in all capacities she served because of her undying love to affect her generation positively.

The governor explained that Akunyili had immortalized herself in the consciousness of Nigerians by turning NAFDAC to an agency of positive change in Nigeria.

He added that Akunyili's tenure as information minister created a better image for Nigeria in the comity of nations.

Fayemi prayed God to grant the family of the

deceased the fortitude to bear the loss.

Fashola (SAN) and the lawmaker representing the Lagos East Senatorial District, Senator Gbenga Ashafa, described the deaths of Emir of Kano, Alhaji Ado Bayero and Akunyili as painful losses.

Fashola who said the nation lost the two eminent Nigerians at a time their contributions to the peaceful coexistence of the country matters most, said both of them would be remembered for their contributions.

He said Bayero and Akunyinli 's deaths would leave vacuums in the country, as the late monarch did his best to uphold the unity of Nigeria.

In a condolence letter to the family of Akunyili, the governor described Dora Akunyili as an outstanding woman who showed Nigeria that she was a different breed.

He added that through her dedication and uprightness while serving as the Director General of the National Agency for Food and Drug Control (NAFDAC), she saved tens of thousands of lives and the country will forever be grateful to her for the war she waged and won against the manufacture and sale of fake drugs.

“Even till the weeks preceding her death, Mrs. Akunyili continued to show her passion for service to the Nation by serving as a delegate at the National Conference,” Fashola said.

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Monday, June 9, 2014

North out to frustrate Confab, says Okunrounmu Felix Nwaneri

C

hairman of the Presidential Advisory Committee on the 2014 National Conference, Senator Femi Okunrounmu, yesterday raised the fear that progressives in the country may not have the far-reaching decisions that they had hope for at the ongoing confab given the hard stance of North on critical national issues.

Okunrounmu, who stated this in Lagos while speaking at the annual luncheon of the Lagos Branch of the Government College, Ibadan Old Boys Association (GCIOBA), said the agenda of Northern delegates at the confab to block any change and ensure the sustenance of the status quo has pitched them against their SouthWest counterparts, who are in the vanguard of a return to regionalism, parliamentary system of government and devolution of powers to the regions.

In a lecture entitled: “After the National Conference, wither the nation,” Okunruonmu, however noted that despite the North’s posture, there is still hope that there may be enough departure from the status quo to justify the submission of the conference outcomes to a referendum preparatory to writing a new constitution.

He said: “Very early in the conference, three

categories of delegates emerged. People in the first category, consisting of delegates from the South-West and to a lesser extent, the South-East, were eagerly anticipating fundamental changes in the status quo, such as a return to regionalism and to the parliamentary form of democratic practice, and a substantial devolution of powers to the regions or zones.

“The South-West may be said to be the only zone that came with concrete proposals for changes that were conceived to be in the best interest of the entire nation, and not for the benefit of the zone alone.

“People in the second category of delegates, mostly from the minority zones of the country, while quite supportive of the conference, were mainly concerned with issues touching upon their marginalisation.

“Thus, the Middle Belt opposed a return to regionalism, fearing they may once again come under the domination of the ethnic nationalities in their zones, from which state creation had freed them. The South-South on its part was fixated on the issue of resource control and resource ownership.

“The third category consisted of delegates from the core North. They came with a very straight forward agenda, which is to block any change and

Bribery: Court sentences CSO to 33 years imprisonment Emmanuel Onani ABUJA

A

Delta State High Court sitting in Warri, has sentenced the Chief Security Officer (CSO) of the Delta State Polytechnic, Ozoro, Mr. Peter Obonyamo, to 33 years imprisonment.

Obonyamo would, however, spend seven years in prison as the terms are to run concurrently.

He was prosecuted by the Independent Corrupt Practices and Other Re-

lated Offences Commission (ICPC), for demanding N150,000 gratification from a contractor with the Delta State Polytechnic, Ozoro.

The disclosure was contained in a statement signed by the Head of Media and Events of the commission, Folu Olamiti.

The statement further revealed that the convicted CSO “was also charged for actually receiving N100,000 from the contractor.”

No student dropped out of LASU due to hiked fees –VC Muritala Ayinla

V

ice-Chancellor of the Lagos State University (LASU), Prof. John Obafunwa, has debunked claims by the leadership of the university’s students’ union that the fee regime introduced in 2011 has led to a high rate of students dropping out of school.

Obafunwa, who spoke at a media interactive session with senior journalists, said there was no truth in the claim as investigations by the au-

thorities of the university revealed that majority of the students who dropped out, did so because of reasons other than the fees.

According to the university administrator, when the list was checked against the records of the institution, it was discovered that some of the names on the list submitted by the students were those of non-students of the institution while others were those who dropped out because they did not meet the appropriate CGP of the school.

ensure the sustenance of the status quo. So, the conference has mostly been a clash of the South-West against the core North.”

Okunrounmu also warned of dangers ahead for the country, saying some documents currently being circulated by the North portrays the region as having a fixation with the immediate return of

power to the region. “That the Presidency is the North’s birthright, to have in perpetuity except when it graciously concedes it to others, seems to be the mindset of its leaders currently,” he said.

Chairman of the event and a former governor of Oyo State, Dr. Omololu Olunloyo, in his opening remarks, averred that the

ongoing National Conference is likely to fail.

His words: “The National Conference is not likely to succeed because what Okunrounmu asked them to do was not what they did. The same old people don’t only want to run the country but to run it down. If they don’t change, events will change them.”

Chairman of the Lagos

Branch of GCIOBA, Dr. Wale Babalakin (SAN), who spoke on the “Failing Intelligentsia of Nigeria,” decried that the Nigeria intelligentsia have not lived up to their calling and responsibility.

According to him, this has created a lacuna in the development of Nigeria that has proved to be catastrophic.

Managing Director/Editor-in-Chief of New Telegraph, Gabriel Akinadewo (second left), with some officials of Rivers State newspaper agents after a meeting in Port Harcourt...at the weekend

I will expose PDP’s atrocities, says Atiku Ibrahim Abdul'aziz YOLA

F

ormer Vice-President, Atiku Abubakar, yesterday vowed to expose the deluge of atrocities allegedly committed by the Peoples Democratic Party (PDP) against Nigerians, just as he counseled Nigerians to forget the party.

He also said that the PDP cannot and will not rescue Nigeians even if it will last in power till eternity.

The former vice-president, who was speaking in Yola, at the commissioning of his support group, said Nigerians should wait till the electioneering campaigns when he would have the opportunity to reel out

the malfeasance and sleaze perpetrated by the ruling PDP against the people in the last 15 years.

He added that: “We never started hitting PDP until the campaigns commences.”

He admonished Nigerians to reject the party come 2015 as it was the genesis and architect of all the problems afflicting the country, saying the party lacked the wisdom and the commitment to right the wrongs it afflicted on the country.

Atiku said the continued stay of the PDP in power is a bad omen for the country as the country has been moving from bad to the worse since the coming of the party.

NNPC explores Europe for gas market James Nwabueze ABUJA

A

s part of efforts to generate maximum economic benefit from the nation’s enormous gas resources, the Nigerian National Petroleum Corporation (NNPC) has dsaid that it was looking for more markets for the nation’s gas in Europe.

This hint was contained in a statement made available to newsmen in Abuja yesterday

by the Group General Manager, Group Public Affairs Division, NNPC, Ohi Alegbe.

According to the statement, the Group Managing Director of the NNPC, Andrew Yakubu, made this revelation while playing host to a Belgian business delegation under the auspices of the Flanders Investment and Trade Mission in his office at the NNPC Towers, Abuja, over the weekend.

Kwara govt accused of aiding deposed monarch Biodun Oyeleye ILORIN

he Olugbense Ruling TState, House in Offa, Kwara has accused Alhaji Mohammed Mufutau Gbadamosi, who was deposed as the traditional ruler of the town last year of disobedience of court order by allegedly still parading himself as the monarch.

But, in a petition to the Kwara State Attorney-General and Commissioner for Justice, the Olugbense Ruling House accused the government of aiding Gbadamosi to disobey the court, advising the state government to desist from further encouraging the deposed monarch from parading himself as one.

Suswam warns governorship One killed in police, robbers' aspirants against violence shootout Cephas Iorhemen MAKURDI

A

head of the 2015 general elections, Benue State governor, Gabriel Suswam, has warned Peoples Democratic Party (PDP) governorship aspirants that the party has the right to stop any aspirant found to be engaging in violent campaigns.

The governor gave the warning at the weekend while receiving to the party about 200 members

from the All Progressives Congress (APC) led by the former Speaker of the House of Assembly and former member of House of Representatives, Hon. David Mzenda Iho, at Katsina Ala Local Government.

Governor Suswam, who warned the aspirants against misconduct, urged the PDP leadership to immediately put in place a code of conduct for all its aspirants to checkmate their excesses.

Kunle Olayeni ABEOKUTA

O

gun State police command yesterday said its men have killed a suspected armed robber and recovered a vehicle stolen by a robbery gang.

Police Public Relations Officer (PPRO), Mr. Muyiwa Adejobi, said the incident occurred when policemen attached to Mowe Division engaged some bandits on Saturday along the Lagos-Ibadan Expressway.

Adejobi said the sus-

pects had earlier snatched a Toyota Sienna bus with registration number: Lagos LSD 339 CH, at gunpoint near the Redemption Youth Camp on the expressway.

He said: “The robbers had shot and injured the owner of the car (name withheld), who resides at Aguda area of Lagos State, before snatching the Toyota bus. The robbers’ gun shots attracted the policemen on duty near the scene and gave the robbers a hot chase.

news

Sanctity of Truth

Monday, June 9, 2014

9

2015: Delta politicians strategise for Olejeme eading politicians in Del- tial people in Delta State Lered ta State last week gath- and prominent indigenes in Sapele, Delta State, abroad. We are in touch to perfect strategies towards ensuring the emergence of the Chairman of Nigeria Social Insurance Trust Fund (NSITF), Dr. Ngozi Olejeme, as the governor of the state in 2015.

“Speaking through a statement by Chairman Delta Political Forum (DPF) Chief James Oki, they said, "we are building critical alliances with the various communities; we are dialoguing with bigwigs in the Peoples Democratic Party (PDP).

“We are talking with opinion leaders, influen-

with traditional rulers, youth leaders, professionals and others. Olejeme will scale through the primary as well as win the main election,” the leaders said.

The governorship ambition of Olejeme has the support of the country, particularly Delta State.

The leaders advised Delta citizens at home and abroad to be guided by wisdom in deciding the next governor.

DPF described Olejeme as an embodiment of political excellence, development and kindness.

Forum wants gender quota system in constitution Felix Nwaneri

embers of the National Assembly have been admonished to ensure the inclusion of gender quota system in the country’s constitution in order to encourage more women participation in politics.

This was part of resolutions reached at the second series of the Women in Government and Politics Conference: Africa Edition 2014, with the theme: “A Model for Change: Gender Quotas and Expanding Female Participation in Politics,” held in Lagos, at the weekend.

The conference organised by the Winihin Jemide Series and chaired by the Rwandan High Commissioner to Nigeria, Ambassador Joseph Habineza, also called for a compliance mechanism to be put in place to ensure strict compliance with the law.

As observed from the Rwandan experience,

M

participants at the conference drawn from advocacy groups, government agencies, development partners, social media influencers, students, diplomatic community and the media, agreed that enforcement of quota systems will gradually build a culture of gender equality and women participation in politics.

They also called on advocacy groups to improve the quality of advocacy on gender emergence and female participation in politics, while urging women groups to offer more support to women aspiring to hold public office.

A communiqué issued at the end of the conference read in part: “The conference agreed that African governments must re-commit themselves to the education of women and provide the opportunities to empower women with the necessary life skills."

CCPNY canvasses power shift in Plateau Buhari Bello

Jos

group Aof socio-political under the auspices the Coalition of Concerned Plateau Northern Youths (CCPNY) has canvassed power shift in Plateau State.

The group said the governorship of the state come 2015, should not remain in the northern zone for “fairness, inclusion, justice and fear of domination,” just as they called on Governor Jonah Jang to disassociate himself from those agitating for a governor from the northern zone.

The youth group in a press briefing held in Jos, said they decided to come together irrespective of ethnic, gender and religious backgrounds, to speak with a voice Leader of the group Mr. Mafeng Gwallson said,

"this undoubtedly is the key to the growth of democracy and good governance, as over time, we have failed to act and speak when we ought to.”

Speaking through it leader, Mr. Mafeng Gwallson, the group said: “... but in the spirit of social inclusion, fairness, equity, justice, fear of domination and undoubtedly peace in the state, it will be great if this position is simultaneously rotated, considering the fact that all zones have the capacity to produce the best of world leaders and not just Plateau governorship.”

Discarding an earlier agitation by a group of the Plateau North Political Front (PNPF), the youth group said, their agitation was unacceptable and does not reflect the view of an average Plateau northern man.

L-R: Deputy Governor, Kwara State, Mr. Peter Kisra; former Nigerian Permanent Representative to the United Nations/Chancellor, Kwara State University, Prof. Ibrahim Gambari; Vice-Chairman, Senate Committee on National Security and Intelligence/Pro-Chancellor, KWASU, Senator Shaaba Lafiagi and Vice-Chancellor, KWASU, Prof. AbdulRasheed Na’Allah, during the second convocation ceremony of KWASU in Malete, Moro Local Government Area of Kwara State … at the weekend

36.5%

The percentage of individuals using the internet in Colombia in 2010.

Source: Itu.int

912,050

The total area (in sq. km) of Venezuela.

Source: Worldfactsandfigures.com

196.2

The number of newspaper journalists per 1m inhabitants of Czech Republic in 2005.

Source: Blatantworld.com

Obiano: CNPP alleges foul play over INEC’s recruitment of CJN’s son • Urges amendment to Electoral Act JUSTICE The battle for the soul of Anambra is in full gear and eyes are watching Leo Sobechi

he Conference of Nigeria Political Parties (CNPP) has cried foul over an “imminent subversion of justice at the Appeal or Supreme Courts on the appeals filed by Comrade Tony Nwoye, of the Peoples Democratic Party (PDP) and Senator Chris Ngige, of the All Progressives Congress (APC) against Chief Willie Obiano of

T

the All Progressives Grand Alliance (APGA).

CNPP alleges that the sudden recruitment of the Chief Justice of Nigeria’s son, Mustapha Majiyagbe, by the Independent National Electoral Commission (INEC), would jeopardise the final determination of the validity of the election of Obiano as Governor of Anambra State in the November 16, 2013 governorship election.

Consequently, the CNPP called on the National Assembly to amend the Electoral Act and other relevant laws to bestow the burden of proof on INEC in order to guarantee transparent, free and fair elections in Ekiti and Osun States as well as the

2015 general elections.

The CNPP also stressed that: “An impartial umpire is the sine qua non to the survival of our fledgling democracy and our dear nation.”

In a statement signed by its National Publicity Secretary, Mr. Osita Okechukwu, and made available to journalists yesterday; the CNPP said it was “outraged that shortly after the Anambra Governorship Election Tribunal hurriedly delivered its judgement in Awka, against the two political parties in an election that was less than transparent, INEC has decided to hire the CJN Aloma Mukhtar’s son.

While noting that INEC, which did not bother to produce witnesses at the

lower tribunal, suddenly bent backwards to recruit the son of the Chief Justice of Nigeria, Barrister Majiyagbe; adding that the engagement was ostensibly to arrest justice in the forthcoming appeals.

CNPP decried any attempt to gang up against the wheel of justice, stressing that; “CNPP smelt foul play when Barrister Majiyagbe announced appearance for INEC in the Supreme Court and is of the candid view that this will generate conflict of interest and subvert the cause of justice, when the matter finally goes to the Appeal Court and subsequently to the Supreme Court where the CJN presides.”

Aregbesola is a bad manager, says Omisore Adeolu Adeyemo

OSOGBO

O

sun State Peoples Democratic Party (PDP) candidate in the August 9 governorship election, Iyiola Omisore, at the weekend, described Governor Rauf Aregbesola, as a failure in the management of human resources.

Omisore, who made the assertion in a release signed by his Director of Media and Strategy, Prince Diran Odeyemi,

said Aregbesola’s hardline posture towards offsetting the accumulated arrears the state government owes the striking workers of tertiary institutions, has crippled and rendered useless the standard of education in the state.

The PDP candidate also condemned the merger of schools by the Aregbesola administration, saying it has led to the destruction of the state’s educational programmme.

He argued that if Aregbesola were to be a good manager, he would have known how to solve the problem of the striking workers, who vacated their campuses over three months ago.

He, however, said that he will transform the educational sector, if elected governor.

Omisore particularly lamented the abnormal merging of secondary schools, common uniform for primary and secondary schools, cancellation

of primary and secondary education programme of 6-3-3-4, abnormal taxation on higher institution staffers and the denial of tertiary institutions’ workers legitimate retirement age of 65 years and the proposed merger of tertiary institutions.

The former deputy governor said: “It is only an illiterate governor that would demolish school buildings like Fakunle Comprehensive High School, for a Shoprite project.”

10 News BATTLE In Ogun, it is dress rehearsal as elections approach Kunle Olayeni

Abeokuta

A

s the race towards 2015 gathers momentum in Ogun State, a Labour Party (LP) governorship aspirant, Prince Gboyega Isiaka has accused the administration of Governor Ibikunle Amosun of failing to deliver on its electoral promises.

Isiaka, who contested the 2011 governorship against Amosun on the platform of Peoples Party of Nigeria (PPN), identi-

Sanctity of Truth

Monday, June 9, 2014

2015: Amosun, Isiaka in war of words fied the education and health sectors as key areas in which the governor made specific promises but failed to fulfill them in the last three years.

But in a swift reaction, the state Commissioner for Information and Strategy, Alhaji Yusuph Olaniyonu, berated the LP aspirant, saying opposition politicians were fond of speaking “blindly, blankly and carelessly.”

He said contrary to claims by Isiaka, the Amosun administration had made significant strides not only in the education and health sectors but other areas such as infrastruc-

ture, environment, security and agriculture.

Speaking while featuring at the “Guest Night Forum” organised by the state chapter of the Nigeria Union of Journalists (NUJ) in Abeokuta on Friday, Isiaka expressed reservation over the state government’s huge investment in projects that do not add value to the lives of the people.

He declared that the Amosu administration had failed to implement free education and free health programmes which it promised at inception on May 29, 2011.

He said: “The goal of

governance is about people, nobody says we should not have good environment.

But we cannot be doing this without recourse to the resources available and the impact they make on the lives of the people.

“There is a great level of failed policies in the area of Education and health for instance. They lack vision; that is why I said that there is quite a great policy somersault. Having said all this, I think we will not fold our arms and allow all these to continue. That is why I have said I am coming out to run for the governor of Ogun State in the 2015 elections.

According to Isiaka, "I am

not sure there is any policy on education in all fairness.

I think what we heard then was that school fees were going to be reduced by 50 percent. But now, they are actually on the increase.

“The only thing that we have is model schools in bushes all over the place at different levels; the promises that those model schools are going to be admitting students

Aregbesola's campaign group raises alarm over illegal voters' cards Adeolu Adeyemo

Osogbo

he Ogbeni Aregbesola TOrganization Door to Door Campaign (OD2D) in

L-R: Chief Pere Ajuwa; former Governor of Bayelsa State, Diepreye Alamieyeseigha; leader, Niger Delta Volunteer Force, Mujaheed Asari-Dokubo and Special Adviser to the President on Niger Delta Affairs, Kingsley Kuku, during the showcasing of graduants of Aviation Training under the Federal Government Amnesty Programme in Lagos…at the weekend

13%

The percentage of asylum applications registered & processed by UNHCR offices.

Source: Unhcr.org.uk

4,872m

The number of mobile-cellular subscriptions in developing countries in 2012.

Source: Itu.int

20%

The percentage of water withdrawals for agriculture in the Russian Federation.

Source: Unesco.org

from 2013 or thereabout and here we are almost 2015, I don’t see any one of them ready. So, if those are the criteria, then he’s a failure.”

But Olaniyonu yesterday described Isiaka’s allegation as “mischievous” and challenged the governorship aspirant to a public debate on the state government’s policies and programmes.

Osun state at the weekend raised alarm that some individuals are in mass possession of Voters’ cards illegally.

The organization in a statement signed by its' Coordinator, Mr. Segun Omoworare in Osogbo, however called on concerned authorities to act fast before it goes out of hand.

He said: "the Police and other security agencies should as a matter of necessity and urgency take serious action on the reported cases of illegal mass possession of Voters’ cards by some individuals.

The OD2D also called on the Independent National Electoral Commission (INEC) to investigate the matter and unravel the source of the cards from and what purpose they are amassing them for.

OD2D expressed concern that there were reported cases of voters’ card purchase, and surreptitious obtaining of voter cards from unsuspecting voters by some 'unscrupu-

lous' politicians who have consciously engaged in it for some time now.

According to the campaign organization, the illegal possession of the voter cards was not unconnected with the coming governorship election in the state.

It noted that some serious actions must be taken by the concerned securities authorities and the INEC so as to give all stakeholders a sense of safety for a free, fair and credible election, come August 9, 2014.

"OD2D team recalled the case of a woman, Mrs. Alice Gbadebo who was caught with many voters card at Ibokun in Obokun local government area of the state on Thursday 5th day of June 2014 and was handed over to the police.

"However, it was surprising to hear that rather than arraigning the alleged electoral offender in the court, it was said that she was transferred to the Police headquarters in Osogbo where the commissioner of Police allegedly seized the voters cards found on her when she gave the excuse that she was holding them on behalf of her family, the group alleged.

Abdullahi empowers Sokoto youths

Emergency rule not enough, says Gambari, ex-UN envoy

Senator representing Tate,heSokoto East in the SenEngr. Ibrahim Abdul-

Biodun Oyeleye

lahi has pledged to work assiduously towards effective economic empowerment of the people of his constituency.

Abdullahi who is also Sarduana Gobir, gave the pledge while highlighting some of the initiatives aimed at empowering the people since his election into the upper legislative chambers of the national assembly.

Some of the initiatives include the distribution of agricultural inputs such as water pumping machines and the construction of solar-powered boreholes in each of eight local councils that make up the senatorial district.

He also said that he was instrumental to the rehabilitation of the Goronyo Dam through

the federal ministry of water resources which gulped about N3.7 billion.

According to the lawmaker, arrangements have been concluded for a new project that would further empower youths in his district.

The new projects which he said would be flagged off soon will see over 100 unemployed graduates undergo training in various vocational skills.

As part of measures to stem unemployment, he disclosed that a vocational training center was established in Sabon Birni in order to help youths acquire various skills.

Abdullahi reassured the people that he will continue to work towards ensuring that social amenities and other infrastructure being provided by government get to them.

Ilorin

F

ormer Nigerian Permanent Representative to the United Nations, Professor Agboola Gambari has said that the emergency declaration in the North-East is not sufficient to end the insurgency in the region.

Gambari, who is Chancellor of the Kwara State University (KWASU), stated this at the 2014 convo-

cation of the institution.

Some 349 graduating students of the school were conferred with degrees.

He noted that the solution to the insurgency would be a national emergency with collective national response.

The former envoy said while the state of emergency declared in the three states is necessary, it is not sufficient to restore peace and security in the area.

According to him, with the insurgency in the North East, the country as a whole is under serious and unprecedented attack.

Gambari said: "In my view, it would be a great mistake to regard the Boko Haram insurgency as a problem of the North East of our country.

Hence, declaring a state of emergency in the three states of that zone is a necessary but insufficient condition for the restora-

tion and maintenance of peace and security in the area and the country as a whole.

"Let us be clear: the Nigerian state is under serious and unprecedented attack and we must regard the insurgency in the North East as a national emergency demanding a collective national response which is comprehensive, carefully calibrated and sustained."

Ogun workers undergo ICT training to enhance efficiency orkers in Ministries, DeW partments and Agencies (MDAs) in Ogun State are to

undergo ICT training to enhance their efficiency and accuracy in record keeping.

The training, which would be organised by the State Information, Communication and Technology Department in conjunction

with International Business Machine Corporation (IBM) and Voluntary Services Overseas International (VSO) will be declared open today (Monday, July 9) by Governor Ibikunle Amosun.

Senior Special Assistant (SSA) to the Governor on ICT, Mr. Bunmi Adebayo said in a statement that the

training, with the theme “Scope of Work” would among other things see workers of the state Water Corporation trained on how to design and develop a frame work for the setting up of a Wide Area Network (WAN) for all the business units of Ogun State and developing a Road Map/Guide

on collection and analysis of data on water production in Ogun state.

Workers of other ministries enrolled for the training include those of the Education, Science and Technology, Women Affairs and Social Development as well as Commerce and Industry.

11

NEW TELEGRAPH

www.newtelegraphonline.com/metro

ABIODUN BELLO FEATURES Editor

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

MONday,JUNE 9, 2014

0802 393 8212

How wife assisted husband to kidnap her employer COVETOUS EMPLOYEE Housewife helps her ex-jail bird husband to stage manage the abduction of her employer, a multi-millionaire hotelier, in Lagos

George

Recovered locally-made guns and cartridges

Olatunji

Juliana Francis

A

suspected robber cum kidnapper, Dominic George, said that a gang member’s wife helped them to abduct her employer, a multi-millionaire, in Lagos State.

Incidentally the woman’s husband, Ugo (still at large), had been to prison twice for kidnapping, which she knew, but apparently did not see anything wrong in assisting him to abduct her boss.

George told the police that Ugo’s wife helped them to monitor her employer’s movements.

He said: “Ugo’s wife works for the man. She works in one of his hotels.

About four of us on that day kidnapped the man at Lusada area of Ogun State.”

George, Umukoro Samuel and Abayomi Olatunji are now in police custody.

Aside from kidnapping, the gang was alleged to have robbed Airtel warehouse and tied the policeman guarding the place, before taking his AK47 rifle.

It was further gathered that the gang specialised in stealing back up batteries for telecom masts.

One AK47 rifle and a double-barrelled gun were recovered from the gang.

The investigation of the suspects was initially stalled when most of the victims they kidnapped refused to come forward to testify, a police source said.

“Most of the victims we called, said they were afraid to come forward and testify because once the matter gets to the court, the suspects would be released and come after them.

“The gang has robbed Airtel warehouse in GRA, Ikeja and collected AK47 rifle from a policeman. They were planning another robbery before the officer in charge of the Special Anti-Robbery Squad (SARS), SP Abba Kyarri, got a tip-off. Kyarri quickly drafted a team and they raced to the scene. The suspects were arrested at the Alakuko area of Lagos. Olatunji and George were arrested first and used as baits to catch Samuel,” the source said.

One of the victims, who was braved enough to answer police calls, identified himself simply as Igwe.

He recalled: “They kidnapped me at Lusada in Ogun State, in April 2013.

They collected ransom of one N1.05 million.”

George, 42, father of six, confessed that he told his friend, Samuel, that he desperately needed a job, to take care of his kids and wife, but he never asked to be introduced to robbery and kidnapping.

George, who sells foodstuff at Igando, where he met and befriended Samuel, said that he did not know that his buddy was into robbery and kidnapping.

It was due to his incessant complaints to Samuel that he needed a wellpaying job, that his friend introduced Uche to him.

“Samuel introduced Uche as his friend. Uche said he had a business for us. He said that he wanted us to go and kidnap somebody. He said that was how we would make money. I asked him how that was possible, but Samuel said I should leave everything to him. We robbed eight pieces of MTN mast batteries along Benin Expressway last year.

“After we collected the money from Igwe, we shared it. I was given only N100,000. Olatunji collected N50,000, while Samuel took N90,000. The second operation was the robbery of Airtel warehouse. We were many

Most of the victims we called, said they were afraid to come forward and testify because once the matter gets to the court, the suspects would be released and come after them

Samuel

that went for that operation. We stormed the place at midnight. We carted away Airtel cable wires. We used a truck to carry the cables. I didn’t know how much it was sold for but I received only N200,000. The third operation was what led to our arrest.”

Remembering how they met their waterloo, George said that Olatunji told the gang that the operation would fetch them N30 million.

Thirty-two-year-old Olatunji, a farmer, confessed that they used to keep their hostages at his farm.

He said: “We fed him with rice and water. It was Ugo who lured me into kidnapping. Ugo and his friend had done it twice and had been arrested twice. They were jailed. When they came out, they did this one and decided to bring the victim to my farm. They gave me N50,000. I had only gone with them for the Alakuko planned robbery.”

Samuel also 32 and father of three said that he participated only in one kidnapping, adding that it was George, who introduced him to the gang.

12

METRO

Monday, Ju

Driver kills pedestrian, reports self at police post RECTITUDE A man knocks down and kills a woman who dashes across the expressway. Walks into a police post to report himself Elijah Samuel

A

n unidentified woman lost her life yesterday as she was hit by a car while trying to dash across the Oshodi-Apapa Expressway.

The incident occurred at the Cele bus stop of the section of the ever-busy road.

The driver the car, a Daewoo, who reported the case at Cele Police Post, was detained by the police.

Incidentally, the accident occurred right under the pedestrian bridge.

When our correspondent got to the scene of the accident, the body of the woman, said to be in her 60’s, was lying in a pool of blood.

Policemen from Cele Police Post and

Policemen evacuating the corpse

Itire Police Station later evacuated the body.

One of the cleaners employed by the Lagos State Waste Management Agency (LAWMA), who witnessed the accident, said the woman was hit in the middle of the road while she was

running to the other side.

He said: “The accident occurred between 6.30am and 7am. The woman was killed while trying to cross from the Itire side of the expressway to the Okota side. We just heard the screeching of the tyres of the car that hit her.

The driver, who was right on the fast lane of the expressway, tried to save her by applying the brakes, but it was too late as the car hit the woman right on the pedestrian bridge.

“But curiously, the driver got out of the car, wailing over the incident.

By the time sympathisers gathered, the man went to the Cele Police Post and reported what had happened. Policemen later came and drove the car away.”

Policemen at the post did not allow our correspondent to speak with the driver.

“It is not time to speak with the man,” a sergeant said.

But the red Daewoo car with registration number KJA 97 DM, said to be involved in the accident, was parked inside the police post.

Association protests interference

Camillus Nnaji

M

embers of the Association of Plant and Engine Repairers (APER), Adesan chapter in Obafemi Owode Local Government Area of Ogun State, have staged a peaceful protest to the palace of the Baale of the community, Chief Tajudeen Adesanolu.

The people were protesting the alleged planned merger of the association with another.

The state Chairman of APER, Prince Adebola Adejumi, told our correspondent that they would not allow the community head to use his position to dissolve the association.

He said: “APER is an association duly registered. We have our Certificate of Incorporation issued by the Corporate Affairs Commission (CAC). We shall not allow any king or baale to control us. They have no right to tell us how to run our association or dissolve it. We have plans to go to court if he does not respect our constitutional right as a registered association.

“The issue is that the baale wants to merge us with another association, the Motorcycle Repairers Association, because that association holds its meetings in his house and pays him royalty.

“When we refuse on grounds

that APER is a registered association, having its own constitutions and deeds, the baale started locking our members’ shops. If I am not a motorcycle repairer, how can I belong to their association and how can they belong to APER which is for generators and plants?”

It was gathered that APER embarked on the protest on Saturday because the bale had refused to settle the issue on three occasions when members of the association went to meet him.

But addressing the protesters, Adesanolu asked them to send their officials to him on Friday Adejumi to settle issue.

Adesanolu

L-R: Odeyemi, Odedeogboro and Ashafa during the inauguration.

Muritala Ayinla

T

he residents of Bado-Isale community in Epe Local Government Area yesterday showered encomiums on the lawmaker representing Lagos State East Senatorial District,

Senator ‘Gbenga A citating an abando laundry house.

NT Metro gathere resuscitation of the the residents used clothes at the lagoon Many people, it w

Man steals dummy p Juliana Francis

W

orried by the frequent stealing of phones and other items in the church, members of the Favorite House Church, in Lekki area of Lagos State decided to set a trap for the thief.

The trap nailed 30-year-old Tunde Aro. Unaware that members had a secret meeting, where it was decided they should plant a dummy phone, to catch the thief, Aro had, as usual, sailed into the church, pretending to be pious like other worshippers.

But within a few seconds, he had stealthily stolen a Samsung Galaxy phone. He was, however, unaware that it was a dummy.

But the suspect denied being the sought-after thief. He claimed that he was just a victim of circumstance.

According to him, he had taken the dummy phone, with the inten-

Aro with the dummy phone

sion to hand it over to He said he was shoc they accused him of be “Members of the c us that several things h riously been disappea the church. They reco ing laptops, phones valuable items.

“The attention of th guards in the church w

Female kidnapper, three oth Dominic Adewole Asaba

P

Some APER Members during the protest

olice in Delta State have arrested a suspected notorious female kidnapper, identified as Favour Okonkwo, and three of her gang members, James Aleato, Ikechukwu Abua and Efe Ono. The suspects were arrested in Asaba, the state capital, after they abducted one Mrs Ibezimakor Chinelo, an official of the state command of the Nigeria Security and Civil Service Defence Corps (NSCDC).

The suspects immed call across to members o ily to prepare N10 millio The acting Police Pu tions Officer, Charles M paraded the suspects a mand’s headquarters at the weekend, said p caught them on Asaba pressway by Oshimili S Government Secretaria He said: “As the team ing in on the criminal tempted to push the vic In the process, the four namely, Favour Oko

13

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

AYODELE OJO

DEPUTY EDITOR, POLITICS

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

MONDAY, JUNE 9, 2014

Nobody has the automatic right to become president of this country.

If people prefer a particular candidate or somebody from a particular part of this country, his promoters should work for him so that he can emerge as the candate.

-Bashir Tofa

2015: 500 POLITICIANS TO WATCH

Edo: Oshiomhole, Anenih square up for Nigeria’s Heart Beat Cajetan Mmuta BENIN

I

f there are issues that will spur residents and people of Edo State in the choice of who leads them during the 2015 elections, the question of real representation, performance through human capital and infrastructural development and improved living standards of the people are expected to be true criteria.

This is given the high level of political awareness and information the masses of the state have been exposed to since the inception of democracy in 1999.

Above all, the calibre, character and attitude of elected and appointed political office holders and leaders that have at one time or the other presided over the collective destinies and interests of the people cannot be ignored. No doubt, an average Edo resident has become wiser taking into account the role the political class have played in an attempt at dispensing either equitably or otherwise the fortunes that accrue from the Federal Government at serving the needs of the over three million people of the Heart Beat state.

Indeed, Edo remains a strategic gateway to other states in the South-East, South-West, South-South and northern parts of the country. Edo State is richly blessed with human and material resources but its development appears slowed down by dearth of political will and courage to transform such rich endowments to overall development of the state, which before now was in the 60s and late 80s the historical and even commercial hub of reference of the then Mid-Western region and later Bendel State.

The development indices of the state from which Delta State was carved out on August 27, 1991 has been characterised by who is in power. Between 1999 and 2007, the Peoples Democratic Party (PDP) held sway untill the arrival of the Action Congress (AC) government of former President of the Nigeria Labour Congress (NLC), Comrade Adams Aliyu Oshiomhole, which overturned the table through the courts that swept the carpet off the feet of the 18-month gover nment of Prof.

Oserheimen Osunbor. The test of the seeming power tussle is what the state is hopefully going to pass through come 2015.

However, there are forces that will decide who gets what and when amongst the people in the 192 wards, 18 local government areas and the three Senatorial Districts of the state. These, to analysts, are the backbone of Edo politics. These personalities will shape the political direction of the state in the 2015 elections.

While the 2015 elections in Edo State will be a straight contest between the All Progressives Congress (APC) and PDP, in the real sense of it, the epic electoral battle is going to be between Governor Adams Oshiomhole and Chief Tony Anenih.

Adams Oshiomhole There is, no doubt, that Governor Oshiomhole is a man of history. The Iyamho-born former President of NLC is many things to different people in the country. He has tested life at its lowest, average and at the peak. Oshiomhole has fought many battles. His days in the labour world was both rewarding and one of pains having served during the military era and finally embraced the relief of democracy which struggle he was part of.

His coming into politics marked a turning point in the state. His administration since 2007 after gruelling legal battles at the state governorship election petitions tribunal and the Appeal Court, recorded inexplicable strides in capacity building, infrastr uctural development, security, transparency and accountability in government and governance in all spheres of human endeavour. These have been showcased by the APC-led government through employment generation and other empowerment schemes, improved transportation system that witnessed hordes of commercial buses and taxis, provision of electricity, water, massive road construction and building of drainages, beautification of urban centres, and several other intervention measures that assisted to bring about ease and peaceful coexistence amongst the residents and people in the three senatorial districts of the state.

Apart from the testimonies of achievements that have left the opposition in bad shape, Oshiomhole is still preparing many for leadership roles.

The story of Edo State at the moment is that of change from despondency, abandonment and ruins to a new order that sees total relief.

Interestingly, Oshiomhole has done his part as governor of the state and is expected to bow out of the Government House come 2016. This implies that the state has more time for preparation on who takes over from the governor. However, the governor will not wish to allow his foes take over the house he has laboured to build. This entails that the battle in 2015 will determine who CONTINUED ON PAGE 14

14 POLITICS

Sanctity of Truth

Monday, June 9, 2014

2015: 500 POLITICIANS TO WATCH

Igbinedion, Okunbo, Ize-Iyamu, Orbih, CO N T I N U E D F R O M PA G E 1 3

goes where in 2016 and such expected fierce contest is what awaits the APC and the PDP. Oshiomhole and Anenih’s men are no doubt prepared to do a final battle that will keep the grass ever ready to suffer for the soul of the state.

There are many questions for the governor: In the 2015 presidential poll, whose interest will Oshiomhole protect? Will Oshiomhole ever allow the return of Anenih and his men to political relevance in the state after they had taught him the hardest lesson of his life?

Already, Oshiomhole has positioned himself for another historic battle that may put the opposition to extinction and reference. In any case, the governor is faced with the arduous task of putting his house in order following defections that have hit the APC in recent time.

A lot of things will happen in Oshiomhole’s camp in 2015. If he is picked as the APC presidential running mate, he will ensure that he delivers Edo for his party. But if he does not run in the presidential poll, he may just decide to work for the success of his party in the legislative elections since the governorship election won’t hold until 2016.

He is sympathetic to Jonathan’s presidency.

Tony Anenih The Eyasele of Esan land is an old political war horse. No doubt, Chief Anenih has seen it all and does not belong to the present generation of politicians. From the Second Republic till date, the former Assistant Commissioner of Police has kept his ship afloat amid turbulence and sailed to port for decades. He has served variously in elective and appointive offices in the country. He was the former national chairman of the Social Democratic Party (SDP) and a founding member of the PDP which he is the chairman of its Board of Trustees (BoT).

The former Works Minister is a master strategist that has earned him the name ‘Mr. Fix It’ in politics.

Anenih commands large followership who have continued to enjoy his goodwill through empowerment initiatives and great assistants. He has played key roles in the installation of many governments in power including President Goodluck Jonathan. The party in government at the centre and some of the state governors defer to his wise counsel that has helped to resolve most crises within and outside the party and the nation at large. Although, he is getting older and a bit inactive in real politics unlike before, Anenih has scores to settle with the ruling APC in the state as both sides enter the ring for the stiff bout in 2015.

He is all out to give his best at returning the state to the PDP. Already, drums of campaigns, sensitisation and awareness creation have been rolled out across the 18 councils and three senatorial districts of the state. With the usual tradition, he is believed to have mapped out his men for various strategic positions as the 2015 elections draw nearer. How he hopes to perfect his plans is another puzzle.

In any case, Anenih holds the ace in PDP. He will along with other influential party men decide who gets what in the PDP for the 2015 contest. He will surely deliver Edo for the Jonathan’s re-election. But at the legislative polls, he will have to contend with Oshiomhole who is poised to overrun him and

Oshiomhole

Anenih

Igbinedion

Oghiadomhe

PDP. Lucky Igbinedion The success story or otherwise of the state cannot be written without mention of Lucky Igbinedion. He was the governor of the state between 1999 and 2007. He was roundly criticised for dismal performance in office. The ugly scenario sparked serious apathy within his party, the PDP, that some party leaders were vehemently opposed to giving him re-election ticket. It took the intervention of his father and Esama of Benin Kingdom, Gabriel, and some loyalists to the wealthy family to douse the tension. The onslaught led to the factionalisation of the PDP and emergence of the Grace Group (GG) political machinery that stood on the way of perceived enemies of government. This was followed by the massive deregistration of party members by the national body. The GG under Charles Idahosa and Pastor Osagie IzeIyamu perfected the formation of Ac-

tion Congress of Democrats (ACD) that dovetailed into AC and later Action Congress of Nigeria (ACN) and now APC in Edo State. It was the AC that prepared the ground for Oshiomhole to realise his governorship ambition.

The Lucky days in government has variously been tagged by those opposed to him as the locust years because of the apparent waste and nonperformance that characterised the administration. The politivian from Ovia South West Local Government is believed to have worked for the emergence of Oshiomhole. He has recently taken steps to identify with the PDP and is determined to work for the party in the 2015 elections. Some of his foot soldiers have returned to the PDP. He will play some roles in the election, but not as expected of a former governor because of his declining political status and goodwill in the state.

Mike Oghiadomhe Oghiadomhe is the immediate past

Chief of Staff to President Jonathan.

He is held in high esteem by members of the PDP in the state. He wields strong influence in Edo North, having served variously in appointive and elective positions in the state. He was deputy governor of the state during the eight years of Igbinedion.

As a PDP leader, Oghiadomhe will not chicken out from the task of ensuring the return of President Jonathan to Aso Rock in 2015, though, he may have his bitter pills against such ambition for the manner he left his position at the Presidency. He also has a soft spot for Governor Oshiomhole who shares the same North Senatorial District with him. His closeness to the governor may likely cause serious ripples in the PDP and Oshiomhole has never hidden his admiration for Oghiadomhe.

When he was eased out of office, the thinking was that he wanted to pursue political ambition. In 2015, governorship may not be on the card. If indeed,

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Monday, June 9, 2014

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2015: 500 POLITICIANS TO WATCH

Oghiadomhe, Airhiavbere lead PDP’s battle

l Igbinedion

Ize-Iyamu

Odubu

Okunbo

Airhiavbere

Orbih

Danjuma

Uzamere

he is seeking for political office in the next election, it will be that of fighting for senatorial seat. But would the governor allow his friend to defeat him in his own senatorial district?

Osagie Ize-Iyamu Pastor Ize-Iyamu was one of the major pillars of the ruling APC until he recently returned to the PDP. In 2006, he led the Grace Group chaired by Prince Tony Omoaghe that succeeded in upstaging and factionalising the PDP, to team up with the AC on which ticket Oshiomhole won the 2007 gubernatorial election. The Orhionmwonborn former National Vice Chairman (South-South) of the defunct ACN, now APC is a pastor of the Redeemed Christian Church of God (RCCG) and a lawyer. He was a key player in the Igbinedion administration, where he served as the Secretary to the State Government (SSG) and Chief of Staff (COS) for eight years of the administration.

His ambition is to be governor of the state in 2016. This informed his decision to return to the PDP as Oshiomhole is not disposed to his ambition. He is from the same Orhionmwon council with the deputy governor. He commands large army of followers and had last month called it quits with the ruling APC in the state over the controversies that dogged the conduct of the party’s congresses.

In 2015, Ize-Iyamu will be one of the major forces to mobilise massive support for the PDP in the presidential

and legislative elections.

Okunbo has large heart towards the welfare of his constituency, Edo South.

He is a strong supporter of the Goodluck Jonathan presidency and very close to Chief Anenih. He has many followers in his kitty and is expected to deploy his strong financial muscles towards making the PDP tick and the 2015 elections a dream come true for PDP in Edo State.

New Telegraph learnt that Okunbo has his eyes on the governorship. And since the gubernatorial election would not hold in 2015 in Edo State, Okunbo will likely contest for the senatorial seat of Edo South. He is expected to provide logistics for Edo PDP in 2015.

Gabriel Igbinedion He is a revered Bini high chief and father of former state governor, Lucky Igbinedion. The Esama of Bini Kingdom is a major factor in Edo politics.

He is a core stakeholder and chieftain of the PDP in the state; he hails from the South Senatorial District and commands financial muscles to get whatever he wants.

The Igbinedion dynasty is reputed more for business, traditional and classical lifestyles laced with much flamboyance. Before now, the family had stood out for its business enterprises till the late 80s when Lucky ventured into politics. Chief Igbinedion is a member, Board of Trustees (BoT) of the PDP. He was formerly a strong supporter and financier of the Oshiomhole government but later called it quits over disagreement on some issues. He backed the PDP during the April 2012 gubernatorial contest.

He is determined to ensure the return of the PDP to power in the state with his huge financial resources.

Pius Odubu He is the deputy governor of the state. Odubu before his ascendancy to the present status as the number two citizen of Edo State was a member of the House of Representatives for eight years on the platform of the PDP. The Okakuo of Orhionmwon politics to many stakeholders in Benin Kingdom is seen as a loyal deputy governor to Governor Oshiomhole. He has his eyes fixed on the governorship at the end of Oshiomhole’s second term in 2016.

Odubu is poised to realise his gubernatorial ambition with his crowd pooling Edo Solidarity Movement (ESM), a support group. As a major player in the scheme of things in the South Senatorial District and the entire state, he is expected to assert much influence in the decision making processes in 2015, a prelude to the 2016 governorship election.

Idahosa Okunbo The Oredo-born politician is a product of the Chief Gabriel Igbinedion political dynasty; a renowned pilot of the then Okada Air. He is a business magnate and one of the PDP leaders in Edo South as well as major financier of the party in the state.

Oserheimen Osunbor Osunbor is a law professor and former governor of Edo State under the PDP. He was on the saddle for just 18 months when the rug was dramatically pulled off his feet by the Court of Appeal sitting in Benin City. He is a principled man with focus on what he intends to get at any given opportunity.

He is said to be getting set for another come back in the governorship race of the state come 2016. Tragically, Osunbor crashed out in the last gubernatorial primaries contest in the state in CONTINUED ON PAGE 16

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2015: 500 POLITICIANS TO WATCH

Ikimi, Odubu, Oyegun, Ihonvbere, Shaibu, Idahosa, Obende in counter-offensive

Ikimi

Odigie-Oyegun

Idahosa

Osagie

Idahosa

Igbe

Iriase

Ogbemudia

CO N T I N U E D F R O M PA G E 1 5

of the PDP and hails from the same Etsako federal constituency in Edo North with Oshiomhole. He is Anenih’s right hand man. The PDP under Orbih has witnessed transformation. In 2003, Orbih was the governorship aspirant of the ANPP and lost the ticket to Senator Roland Owie. The former chairman, board of directors of the Nigeria National Petroleum Corporation (NNPC) is faced with the task of delivering his party in the 2015 presidential and legislative polls in the state.

At the moment, the PDP has eight members in the state assembly while the APC has 16 in its kitty. How the party hopes to do the magic still remains a mystery. Although, in recent times, the party has struggled to reposition itself in preparation for the epic battle that faces it. It is envisaged that the forthcoming polls and the 2016 governorship elections will determine the real direction of the party in the state.

Orbih along with other PDP leaders will decide the fate of many politicians who want to contest the 2015 polls.

moured gubernatorial ambition come 2016. The senator is seen to be close to the presidency because of his long standing relationship with the former governor of Bayelsa State, Chief Dieprieye Alamieyeseigha. He was a reputed contractor under the administration of Alamieyeseigha during which period he did the feasibility study of some of the projects executed in Bayelsa.

Uzamere’s movement back to the PDP may be a mistake if Okunbo finally decides on the senatorial election in 2015. He stands to lose both the senatorial seat and the 2016 governorship.

eral and was the PDP candidate in the April 2012 governorship election in Edo State. He is believed to be nursing a comeback in the 2016 gubernatorial race. He is presently the national coordinator of Goodluck to Goodluck (G2G) Campaign for 2015 presidential election.

The Oredo-born politician is poised to ensure that next year’s polls is not a fluke. He is expected to deploy his wealth of experience and work for PDP to win the presidential and legislative seats in the state. Through his CACO, a non-governmental organisation, he has been empowering youths and women in the state. He is one of the generals the PDP will rely on to do battle against the APC in 2015.

April 2012. His government witnessed a tough moment with forces within the PDP that the fold was split along two different factions till the recent reunion for obvious reasons. At the centre of it all was the control of party machinery. He is said to have a soft spot for the Oshiomhole-led government. The Iruekpen-born politician is an in-law of former President Obasanjo. He is at the moment a member of the Federal Government’s Law Review Commission.

He is definitely going to play a major role in 2015 elections in the state.

Samuel Ogbemudia Chief Ogbemudia could be described as the father of Edo politics. He was the former military Governor of the MidWestern region and later Bendel State as an elected governor. He is a member of the Board of Trustees (BoT) of the PDP. The Uhunmwonde-born politician has a soft spot for Oshiomhole. Presently, he is in the forefront of the campaign for a credible governorship candidate that will replace Oshiomhole. His influence may swell votes in favour of the party he supports. Though he is a PDP member, he supports the Oshiomhole’s government.

Dan Osi Orbih Chief Orbih is the state chairman

Ehigie Uzamere He is the senator representing Edo South senatorial zone at the National Assembly. Uzamere has been a member of the PDP from where he shifted camp to the APC which gave him a second term seat. He had in late January returned to the PDP to launch his ru-

Daisy Danjuma She was in the Senate on the platform of the PDP from 2003 to 2007 for Edo South Senatorial District. She is married to General Theophillus Danjuma. Daisy commands strong influence in the state and working to return to the Senate. She is likely to pitch her tent with Oshiomhole’s APC. The PDP didn’t give her a return ticket in 2007.

She has empowered many Edo indigenes through the T. Y. Danjuma Foundation which may count in her favour.

Whether she contest for a position or not, she is certainly going to play a role in the 2015 elections.

Charles Ehigie Airhiavbere Airhiavbere is a retired Major Gen-

Godwin Abbe Abbe is a retired Major General and a chieftain of the PDP from Edo South.

Although, he is not contesting for any elective position, he has a major stake in the politics of the state. As a party man, he has strong command of vast majority of people in Edo South with the largest population.

The former Minister of Interior and later Defence will surely play a role in the politics of the state. He believes in the PDP project and President Jonathan’s 2015 ambition.

Charles Idahosa He is a key player in the politics of the

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2015: 500 POLITICIANS TO WATCH

Ogiemwonyi

Iduoyekenmwen

Owie

Shaibu

Obende

Imasuen

Ihonvbere

Ogie

state and presently the chairman of Edo Political Forum and Special Adviser to Governor Oshiomhole on Politics. Idahosa, a former chairman of Uhunmwonde council, served in the Igbinedion administration as Director of Information and Protocol, and Commissioner for Information. He was also a former governorship candidate in the state.

The Edo South politician by virtue of his position is expected to lead the battle against Oshiomhole’s political foes in the 2015 elections.

light as a lawmaker on the platform of the then ACN representing Oredo constituency 1. Igbe is believed to be warming up and being positioned by forces in the APC-led government to replace Hon. Razaq Bello Osagie representing Oredo federal constituency in the House of Representatives.

He has piloted the affairs of the Assembly without hitch since 2007 where he has proved himself as a true leader. He has the support of many palace chiefs and people of Edo South in most of his programmes and is ever determined to mobilise the people during the epic contest.

former Managing Director of Nigeria Petroleum Development Company (NPDC). The former Minister of Works hails from Edo South and is highly speculated that he is going to contest for the gubernatorial seat in 2016. Hence, he is mobilising support for the party in 2015 prelude to the 2016 governorship election.

sitioned for the deputy governorship come 2016 by Oshiomhole. He may seek re-election into the House in 2015.

His ambition is stirring undue hatred and acrimony amongst lawmakers in the state assembly. The lawmaker has Oshiomhole’s ears as a point man.

Samson Osagie He is the Minority Whip of the House of Representatives. The vocal lawmaker represents Orhionmwon/ Uhunmwonde federal constituency on APC’s platform. A lawyer and astute politician, Osagie was elected into the House on the PDP ticket but later defected to the ruling APC. As preparations for the 2015 polls draw close, he is strongly eyeing the Edo South senatorial seat.

West Idahosa He was a three-time member of House of Representatives from 19992011. He is a seasoned lawyer, politician and member of the PDP until his recent defection from the PDP to the APC. Idahosa last month joined some aggrieved members of the APC in the state to return to the PDP where he is likely to mobilise strong support for the opposition ahead of the 2015 project. He is also showing interest in the Edo South senatorial seat next year.

Uyi Igbe He is the Speaker of the Edo State House of Assembly. He came to lime-

John Odigie-Oyegun He was the governor of Edo State between 1991 and 1993. In the 2011 presidential election, he was the running mate to former Kano State Governor, Ibrahim Shekarau, on the platform of the All Nigerian People’s Party (ANPP). He is a chieftain of the APC and one of the national chairmanship aspirants of the party at the June 13 and 14 national convention.

If he emerges as APC national chairman, he will be the rallying point of the party in 2015. In the event he loses, he is still a major factor in the state’s politics.

Tom Ikimi The former Minister of Foreign Affairs is also a major force in Edo politics. Like Oyegun, he is one of the aspirants to the APC’s national chairmanship. Win or lose, Ikimi remains a strong pillar for the APC in the 2015 electoral battle.

Chris Ogiemwonyi He is a chieftain of the PDP and

Matthew Iduoyekenmwen He was the former Majority Leader of the State House Assembly. He also was an ex-commissioner of the Niger Delta Development Commission (NDDC) board. Iduoyekenmwen was one of the PDP governorship aspirants in 2012. He is highly rated as one of those on the list for the governorship race come 2016. He is expected to rally round PDP in 2015.

Roland Owie Senator Owie is not a push over in Edo politics. He was a former Chief Whip of the Senate in 1999 and former gubernatorial aspirant in the defunct Mid-Western region under the platform of the Unity Party of Nigeria (UPN). The Uhunmwonde-born politician had lent his support to the Oshiomhole’s AC-led government but later dumped the ruling party moments he parted ways with the governor. He is one of the PDP leaders in the state.

Philip Shaibu The Etsako West-born politician is the Majority Leader of the state assembly. Shaibu represents Etsako West II on APC platform. The former President of the National Association of Nigerian Students (NANS) is Oshiomhole’s kinsman and is said to be po-

Domingo Obende The businessman is a member of the APC. Senator Obende is known for the controversial anti-gay law passed by the National Assembly early last year. The Akoko Edo-born politician is poised for a second term bid in the Senate. He was a former member of the PDP but later joined the APC. He was former Chief of Staff to ex-military Head of State, General Abdulsalami Abubakar and therefore has overwhelming touch with those that matter in the country’s political scene. He is a crowd puller. Apart from his strong and rooted support base, Obende may be faced with a possible uncertainty from some forces within the Oshiomhole cabinet who are set to strip him of the senatorial seat.

Lucky Imasuen Imasuen was the former deputy governor to Osunbor. He is the Edo South vice chairman of the PDP and also the chairman/coordinator of the Federal Government’s SURE-P. He has an unfailing commitment and is ever determined to work towards the party’s success come 2015 and that of 2016.

Julius Ihonvbere He is a Professor of Political Science and former PDP gubernatorial CONTINUED ON PAGE 18

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Gladiators that will shape Edo CO N T I N U E D F R O M PA G E 1 7

aspirant in 1999. Ihonvbere was Special Adviser to President Olusegun Obasanjo on Project Monitoring and Implementation. He hails from Owan federal constituency of the state and has what it takes to move the crowd to his side. He is the Secretary to the State Government (SSG) in the Oshiomhole administration, a position that has earned him many accolades in government circles.

Ihonvbere is eyeing the Edo North senatorial seat presently occupied by Senator Obende. Indeed, he is going to have a hard tackle because of the tactics that have so far been deployed by the incumbent senator representing the north zone. There are reports that he may defect to the PDP if he fails to clinch the APC’s ticket. He has denied such plan.

His senatorial ambition is going to ruffle feathers in the APC which has potential to affect the fortunes of the party in 2015.

Braimoh

Imasuangbon

Momoh

James

Osunbor

Obadan

other term in 2015. He has served as chairman of Owan West council.

positions in both the North Senatorial District and the state at large. He is one of the forces to rely on to do the master’s bidding when the chips are down. He has the governor’s ears and gets what he wants easily because of his resourcefulness and performance index across the 18 local government areas of the state.

Edo South and played a major role in the emergence of Oshiomhole as governor. He was the most popular senatorial candidate of the party in the build up to 2007 election, but the ticket was handed over to Uzamere.

The state publicity secretary of the PDP is eyeing the senatorial seat in 2015.

Abubakar Momoh He is a popular politician and a twotime member of the House of Representatives for Etsako federal constituency. The lawmaker before now was a member of the PDP but later moved to the APC. He is expected to mobilise the Etsako federal constituency ahead of the 2015 polls for the ruling APC.

David Edebiri The high ranking Bini chief has the spiritual aura that is seen as that of the Oba of Benin kingdom once he speaks on behalf of the revered ancient Bini palace. A former journalist, he has the power that sways opinions and political stands. He is the oldest chief in the kingdom and official spokesperson of the palace. He was a member of the ANPP before he pitched tent with the ruling APC. Edebiri is reputed as the proverbial oracle of the Bini kingdom and his words and pronouncements on behalf of the Oba are considered sacred.

Osarodion Ogie He is known as the Ikpoba Okha political general and reputed as Oshiomhole’s closest ally. Ogie, a former Chief of Staff to Oshiomhole, is the Commissioner for Works. The soft speaking lawyer is one of those angling to succeed Oshiomhole in 2016.

With an army of supporters in his kitty, the residence of the Ikpoba Okha-born politician has remained a Mecca of sorts. He is expected to mobilise support for the APC in 2015.

Osaro Idah The Bini palace chief is the son of a former Oredo council chairman, Chief Heorge Idah. He rose to the peak of his political career when he was made the General Manager of Bendel Brewery Limited and later a member of the kitchen cabinet of the Igbineion administration in the state from where he also became the Secretary of the Benin Traditional Council, the highest decision making of the Bini kingdom with the Oba of Benin presiding. Idah was later elected as state secretary of the defunct ACN, an Interim chairman of the APC and now substantive secretary of the ruling APC. As a key factor in Edo South politics, Idah remains a passive member of the government in the state, participating in many meetings that decide on government policies, programmes and projects. He is expected to galvanise support for APC in the state.

Yisa Braimoh Senator Braimoh is a staunch member of the PDP from Owan West. He is also a delegate to the National Conference. As a seasoned politician, he is a figure to reckon with in the Edo North politics and has remained a force in the Anenih political camp. He was in the Senate for one term where he represented Edo North. He was later defeated by Obende.

Braimoh was a running mate to Igbinedion in 1991 on the platform of the National Republican Convention (NRC) and defeated by John Oyegun’s Social Democratic Party (SDP). He is one of the PDP backers the party will rely on in Edo North where Oshiomhole has a grip.

Pally Iriase Iriase is among the vocal lawmakers in the National Assembly. He represents Owan federal constituency in the House of Representatives on APC platform and hopes to return for an-

Kenneth Imasuangbon The popular rice man as he is called in many circles in Edo is a consistent politician. He has worked all his life for the people of the state. He hails from Ewohinmi town and is a strong member of the PDP. He was one of the founding members and financiers of the defunct AC, a platform under which he had wished to realise his long standing gubernatorial ambition. The mandate was stripped off him to pave way for Oshiomhole in 2007. He has maintained a track record as an unfailing politician with desire to govern the Heart Beat state.

Imasuangbon, a seasoned lawyer, educationist, politician and businessman is a lot of things to many people. His philanthropy and service to humanity has touched many lives across the 18 local governments and three senatorial zones of the state. He contested the April 2012 governorship primaries of the PDP and lost.

In the scheme of Edo politics, Imasuagbon is a factor with his mass movement.

Lucky James He is one of the strongest allies of Governor Oshiomhole. He is the state Commissioner for Local Government and Chieftaincy Affairs. He is a rallying point for the grassroots because of his disposition to them.

James has a charisma that is hard to ignore and that has continued to pave way for him in politics and leadership

Usman Shagadi The no nonsense Alhaji Shagadi was once one of Oshiomhole’s strong political pillars in Edo North. He is the former APC senatorial vice chairman in the district. Shagadi recently joined the Ize-Iyamu group that resigned from the APC and returned to the PDP following disagreement with the governor on the conduct of the party’s congresses. He is believed to have firm control of the senatorial district because of his style of leadership and reach, but he does not possess the needed wherewithal to prosecute the 2015 polls.

Matthew Urhoghide Matthew Urhoghide is an outstanding and vocal politician who was part and parcel of the formation of the AC in the state. He hails from

Peter Obadan Rev. Obadan was a former deputy governor of the state under Chief John Odigie-Oyegun between 1991 and 1993. He hails from Owan in Edo North. Obadan was a strong supporter of Osunbor while the former governor had problem with Anenih. The cleric later dumped the PDP for the APC when Oshiomhole reclaimed his mandate through the courts. He has remained relevant in the Oshiomhole administration and is determined to ensure the dominance of APC in the state in 2015.

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EDITORIAL

Sanctity of Truth

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w w w.new telegraphonli ne.com

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

MONday, JUNE 9, 2014

State of the nation’s economy

he present state of Nigeria’s economy is clearly unacceptable; indeed, it is most galling given the nation’s enormous natural and human resource endowments. The short term macroeconomic outlook looks generally strong, with the likelihood of higher growth, lower inflation, and reserve accumulation.

This presents an opportunity for key reforms and public investments associated with the Transformation Agenda for job creation, diversification, and more effective governance, according to the World Bank in its Nigeria Economic Report (NER). However, the NER says that Nigeria’s economic growth has not automatically translated into better economic and social welfare for Nigerians, noting that “poverty reduction and job creation have not kept pace with population growth, implying social distress for an increasing number of Nigerians.

The economy remains driven mainly by incomes from the oil sector, which is as yet not diversified enough to generate the massive employment needed to reduce the high level of youth unemployment in the country or enough resources to address the various infrastructural deficits the country is also faced with. The strictly noneconomic factors that have impacted negatively on the economy are corruption, lack of enforcement of rule of law, civil disorder and labour unrest as well as insecurity.

In a recent Wall Street Journal interview, Finance Minister Ngozi Okonjo-Iweala indicated that the anticipated Sovereign Wealth Fund would

start operating with U.S. $1 billion from the Excess Crude Account, and that a governing council including representatives from civil society, the media and academia would oversee the account “to ensure that the money is transparently invested.” She emphasized the importance of diversifying the economy to create more jobs. Unfortunately, this would remain a dream for as long the country remains dependent on a monocultural economy as is currently the case. It is difficult to get the full picture of the gains and losses in the economy as data for the year will take time to compile.

However, tentative data from both the Nigerian Bureau of Statistics, the CBN and other statistics generating agencies of government and the private sector point to the fact that the economy did not fare better in 2013 than in preceding years. That is, the economy under-performed in many respects in 2013. And the trend has continued in this fiscal year. Several reasons account for this. First is that although Nigeria is said to be the best destination of choice for business and investment, Nigerians are not investing in their own economy owing to paucity of funds and the high cost of doing business. Another reason—and this is very important—is that the much talked about direct foreign investment is not seen in critical non-oil sectors of the economy such as aviation, tourism, agriculture, manufacturing, solid minerals etc. The oil sector is dominated by multinational corporations, which, by their operations, encourage capital flight and underdevelopment.

The economy is yet to achieve the

necessary structural changes required to jump-start rapid sustainable growth and development. Aside disarticulated and narrow productive base, sectorial linkages in the economy are weak. Primary production comprising agriculture, mining and quarrying inclusive of oil and gas dominate national output.

The manufacturing sector’s role in the economy is decidedly small in terms of share of gross output, contribution to growth, foreign exchange earnings, government revenues and employment generation.

The weak technological base is a consequence of low research and development efforts and disconnect between research findings and industry. The private sector is equally weak and diffuse with poor response record to industrial incentives. After several years of independence, the productive base of the Nigerian economy remains weak, narrow and externally-oriented with primary production activities of agriculture and mining and quarrying (including crude oil and gas) accounting for about 65 percent of the real gross output and over 80 percent of government revenues. In addition, primary production activities account for over 90 percent of foreign exchange earnings and 75 percent of employment.

In contrast, secondary activities comprising manufacturing and building and construction, which traditionally have greater potential for broadening the productive base of the economy and generating sustainable foreign exchange earnings and government revenues account for a mere 4.14 percent and 2.0 percent of gross output respectively.

Services or tertiary activities which depend on wealth generated by the productive sectors for their operations comprise about 30 percent of gross output. Significantly, service activities have been expanding their influence in the economy over the last decade accounting for over 35 percent of the growth of the real gross domestic product (GDP).

One of the nation’s finest minds on political economy, the late Claude Ake did note that social democracy that places emphasis on concrete political, social and economic rights, as opposed to a liberal democracy that emphasizes abstract political rights, could provide the much-needed solution. It would be social democracy that invests heavily in the improvement of people’s health, education, and capacity so that they can participate effectively in the democratic process. This is because the kind of democracy obtainable will be dependent on how far the democratization is driven

by Nigerians themselves and the modalities employed to achieve this. Only then can the economy be well managed and geared to provide solutions to unemployment and underemployment, infrastructural decay, parlous state of the economy, over-devaluation of the naira, high rate of inflation, increase in the cost of living, low capacity utilization of industry and the mono-cultural nature of our economy. Solutions too could be found to bad roads, terrible state of education, poor health facilities, bastardization of the agricultural sector, non- development of non-oil sector, abandonment of solid minerals, poor state of tourism and aviation and the problems in the power, housing and transportation sectors.

GABRIEL AKINADEWO Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALLA Managing Editor, North YEMI AJAYI Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board GEOFFREY EKENNA News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

20

Sanctity of Truth

Monday, June 9, 2014

OPINION Akwa Ibom Pension Bill: Why Akpabio is my hero Suleiman Ahmed

W

hen I received the news that Governor Godswill Akpabio, in response to public outcry, and in spite of the obvious politicization of the whole issue, had requested the Akwa Ibom State House of Assembly to expunge ‘contentious’ sections of the Pension for Governors and Deputy Governors Law, as amended recently and passed by the House on May 26, I could not but doff my heart for him. That he has exercised exceptional courage and rare humility to do this is proof that Akpabio is a true democrat who believes that right or wrong, power belongs to the people. He has shown how strong he is by actually acting 'weak' on the side of the people and, as they say, bowing to pressure in doing this.

It is pertinent to go over this issue briefly and put it in proper perspective. So, what was the hullabaloo?

The media has been awash of recent with a vicious onslaught against Gov. Akpabio on the Akwa Ibom State Governors and Deputy Governors Pension Bill 2014. Although this was an amendment of an existing Governors and Deputy Governors Pension Law 2006, which was initiated by former Governor Victor Attah, investigations reveal that the only difference between both laws is that Governor Akpabio's version sought to plug leakages by putting figures to provisions of the law, thereby having a ceiling beyond which the state must not spend. Sad to say, the red-eyed opponents pounced upon some provisions of the Bill to lampoon Governor Akpabio as a greedy man.

I listened to the governor when he came on Channels TV to clarify issues on the most contentious aspect of the Bill, which is in relation to medical services for the former governors and their spouses “at a sum

not exceeding N100 million.” Many people think this money is a pay-out or a hand-out to the former governors. That is far from the truth. Indeed, it is not even money they can draw cash from in person but money appropriated for the state to pay for medical exigencies that may arise to the limit of 100million per annum.

As Governor Akpabio revealed, there had been cases where he had had to pay over N42 million on medical claims alone, and several of such huge sums in a calendar year without control. This informed his move to peg the expenditure profile for medical expenses on the past leaders, so that government would not spend endlessly and create room for corruption. This money may even be saved if by the year’s end, the beneficiary never had major health issues, had the Law remained as amended.

Come to think of it, where were all these do-gooders and emergency public affairs analysts when the states of Lagos, Rivers, Gombe, Kwara, and Katsina among many others passed their own versions of the Pension for former Governors and Deputy Governor’s Law? Why should Akwa Ibom's case become a major crusade to crucify Governor Akpabio?

Why did the Nigeria Bar Association not raise eyebrows over the Lagos State Pensions Law, for instance?

Compared to Akwa Ibom's version, Lagos provides that a former governor and his family members are entitled to free medical care at state expense. Meaning, if he happens to marry three wives and has 36 children, the state has no choice but to foot all their medical bills for life.

The Lagos law also provides for six vehicles for the ex-governor renewable every three years whereas Akwa Ibom’s provided for two every four years. A further security sub-head stipulates the provision of three

State Security Services agents, eight policemen and one female orderly, which is far in excess of what is provided for in the Akwa Ibom version. But, nobody raised eyebrows over these stipulations by other states.

Reason Akpabio is the favourite prey of media hounds and attack dogs of politicians is that this man, in such a short span in office, has earned his place of honour and fame in the pantheon of outstanding leaders. That he was deservingly named NIGERIA'S EMERGING TIGER by ThisDay in January 2000, sticks to mind and tells in the best, but shortest way possible, the pedigree, achievement and potential of this Lionhearted leader who has forever altered our perception of good governance, responsible leadership and passion for development. Needless to say, this has attracted the envy and villainy of a few disgruntled persons and political elements. For these hating lots, everything and anything Akpabio does must be tarnished and his image sullied by all means.

But, whatever their contrivances, fact remains that Governor Godswill Akpabio deserves kudos not vituperations for he has judged our political history well. Aware that the June 12 annulment has become the single mistake that defined what was otherwise a glittering era under former Military President, Gen. Ibrahim Babangida, and that Chief Olusegun Obasanjo's stellar tenure is blighted only by the alleged Third term agenda, Governor Akpabio is brilliant enough not to allow political opponents define his extraordinary tenure with their misrepresentations of a well-intentioned Bill and jaundiced view of the Pension Law be manipulated as a spoil-sport for him. He has acted the statesman by submitting to a review of the Law. That's why he is my hero.

• Suleiman Ahmed, a public affairs analyst and wrote from Abuja

Sanusi’s whistle blown to pieces Ijele Agha-Ibeka

I

published during March an article entitled “Was Sanusi really a whistle blower?” The central point in that piece read thus: “Civil rights activists called for heads to roll, even without proper investigation, while carpetcrossing politicians saw pegs on which to hang their decrepit overcoats.” In extremely bad times such as the country is currently experiencing, the very fact that someone stands accused of whatever is enough to earn him capital punishment. Our national psyche, our sense of patient consideration and our equanimity have all been eaten up by the failings of the political class, by the years of economic down-turn and by the general flight of equity from our value vault.

Instant justice was to have been the fate of the Honourable Minister of Petroleum Resources, Mrs. Deziani AlisonMadueke and some principal officers of the NNPC. What saved them from kangaroo justice was President Jonathan’s adamantine refusal to crumble in the face of the highly orchestrated hoopla raised in the wake of Sanusi Lamido Sanusi’s claim that a whopping $49.8bn from crude oil sales had gone missing

from the vaults of the NNPC. While eyebrows were still raised over the gargantuan figure the former Central Bank Governor claimed was missing, the man went changing the amount of money he claimed was missing with astonishing regularity.

While Sanusi’s shenanigans continued remorselessly, NNPC officials made countless efforts to put out their own side of the story, to state that no money was missing. Their screams of mea culpa fell on deaf ears. As far as Sanusi and the hysterical army he had raised were concerned, the NNPC was culpable. It was really terrible, the fact that there was little room for the toleration of alternative opinion on the matter. Even the attempts

by Dr. Ngozi Okonjo-Iweala, the Finance Minister and Coordinating Minister for the Economy, to calm frayed nerves were rebuffed. Her idea was to show that the issues Sanusi had raised could be resolved through interdepartmental reconciliations involving the CBN, the Federal Ministry of Finance, the Ministry of Petroleum Resources, the Federal Inland Revenue Services (FIRS) and the Office of the Accountant General of the Federation. Critics lambasted her.

Many Nigerians did what they have

become past masters at – name-calling and blanket condemnation well before either of investigation and trial. It hardly occurred to all those baying for blood that if we jubilated over innocents sent to the hangman’s noose, the ignominious toga of sadism would become evidently ours.

That is why, for instance, we have in the Igbo country a saying to the effect that, “the elderly should abound, in order that youngsters do not roast the vulture, mistaking it for the edible kite’.

Aligning itself with the above words of wisdom, the Senate mandated its Finance Committee to investigate Sanusi’s claim. This followed a ‘Point of Order of Urgent National Importance raised by Sen. Olubunmi Adetunmbi (APC-Ekiti), who relied on the Senate Order 42’. One must note that the Senate Committee on Finance under the chairmanship of the distinguished Senator Ahmed Mohammed Makarfi (Kaduna PDP) deployed skills and speed at dispensing with the investigation in less than six months.

Relying on the Committee’s report, the Senate cleared the Nigerian National Petroleum Corporation of allegations of financial misappropriation on the one hand. On the other, it rebuked the former Governor of CBN, Sanusi Lamido

Sanusi, for dishing out “misleading and highly destabilizing allegations.” I have intentionally put the phrase misleading and highly destabilizing allegations in quotes, to draw the attention of Nigerians to the reality of the level of opprobrium and ill-will Sanusi willfully poured on all our heads.

Now that Sanusi’s whistle has been blown to pieces, would he take time off to clear himself of the grave allegations of official impropriety leveled against him by the indicting report of the Financial Reporting Council? It is my candid opinion that it is about time our public servants started to be held accountable for their deeds while in office. Apart from directing the searchlight on Sanusi’s years of stewardship as CBN Governor, there is the issue of his grandstanding that calls for forensic scrutiny. I am not in any way calling for Sanusi’s arraignment for mendacity. I am only suggesting that whatever it was that emboldened this controversial fellow who contested against businessmen for a chair in philanthropy using the nation’s funds, calls for clear identification.

•Agha-Ibeka is a commentator on national issues.

INVESTIGATION

21 NEW TELEGRAPH

www.newtelegraphonline.com/investigation

BIODUN DUROJAIYE Editor, INVESTIGATION

biodun.durojaiye@newtelegraphonline.com

Monday, JUNE 9, 2014

Abiola and Babangida. Inset: Nwosu

June 12: At times like these...

Currently wracked by ethnic and religious antagonism and disharmony, Nigerians remember with nostalgia how on June 12, 1993, citizens put aside their ethnic and religious differences and voted for a Muslim-Muslim in the hope of birthing a new Nigeria. Unfortunately, the military under General Ibrahim Babangida truncated that hope when it annulled the election considered the freest and fairest in Nigeria’s history. Had the June 12, 1993 Presidential election result been allowed to stay, would Nigeria and Nigerians have been faced with these times...? ISIOMA MADIKE reports

A

few-minute walk from the popular Onipanu Bus Stop in Lagos, Awoyokun Street, a nondescript alley, is like countless others that crisscross the slummy neighbourhood.

Modest storey buildings and bungalows line the street’s typically rustic façade.

But, beneath its rural exterior, Awoyokun Street nurses a dark testimony.

In three days time, it will be 21 years when, with agitation for the actualisation of the June 12, 1993 presidential election raging, human rights groups in the country formed a central body – Campaign for Democracy (CD). The idea was to use it to coordinate civil society’s resistance to the annulment of that election, which the late Moshood Kashimawo Olawale (MKO) Abiola was poised to win, by General Ibrahim Babangida.

Abiodun Mustapha was at the forefront of grassroots mobilisation for the resis-

tance in Lagos State. He fought alongside human rights activists like Gani Fawehinmi, Femi Falana, Beko Ransome-Kuti, Frederick Faseun, Chima Ubani, Frank Kokori, and others. Mustapha almost lost his life during a pro-June 12 rally in Lagos on July 6, 1993. But, he lost his right leg from gunshot wounds sustained when security agents bombarded their protest with gunfire. Gone with his right leg was also his livelihood.

“It happened on July 6, 1993 near the National Stadium during a rally for the actualisation of the June 12, 1993 election.

We were marching with Beko, Faseun, Fawehinmi, Ebenezer Babatope, and other members of the mainstream CD. We were on a peaceful rally,” he narrated.

“Suddenly, we heard gunshots being fired at us from different directions. We found ourselves in the midst of a volley of bullets. A bullet hit my right leg, and

the leg was broken instantly. As I writhed in pain, another bullet pierced into the other leg.

“That was the beginning of a new life and ever since, life has been so horrible.

People don’t want me in their midst again.

I moved from one place to the other begging. It was an ordeal I would not wish my enemies. Since that time people have nicknamed me ‘Mr. June 12’.

Prior to the incident, Mustapha was a popular fashion designer that made clothes for many eminent personalities at Awoyokun, Onipanu area of the state.

He is now 50, and embodies the winter of the June 12 discontent.

Dwelling in the shanty, hidden among rows of wooden-shuttered shacks on Awoyokun Street, there is little questioning that Mustapha is not getting the dividends of the democracy he risked his life to fight for. He has lost so much that

he manages to find a living for his family of six. He says, “what we have now is not the kind of democracy we struggle for in this nation. The democracy we had struggled for is not the democracy that we have seen.”

But his life, according him, would be greatly changed for the better with sets of items presented to him in 2013 by Senator Ganiyu Solomon.

“I thank Solomon for the gifts and selfempowerment items. Nobody has considered me worthy of these before then, that is why I would continue to thank him. I also thank God for directing me to that life-changing event. I had no money with me on that day. In fact, I had to borrow N200 to get transport fare to the place. I never knew I would be this lucky but I thank God for using the Senator to lift CONTINUED ON PAGE 22

22 INVESTIGATION

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Monday, June 9, 2014

‘Democracy, not fulfilling its promise to Nigerians’ CONTINUED FR O M PAGE 21

me again.”

Unfulfilled dreams However, Mustapha is not alone in his anguish. Akin Olushagbemi, ex-personal assistant to Mrs. Kudirat Abiola, was also shot during the June 12 crisis. Security agents in the premises of the Abuja High Court shot him on July 28, 1994. “We had accompanied Abiola to the court that day,” he said.

“Trouble started when some mobile policemen attached to the court tried to force me to remove the Hope ’93 cloth I was wearing. I refused to pull it, and in the presence of Senor Advocate of Nigeria (SAN), Chief G.O.K Ajayi, Aka Bashorun, Bayo Osinowo, Olu Akerele and Opeyemi Bamidele, one of the mobile policemen opened fire on me, pumping hot lead into my legs. Six bullets were extracted from my body; three at Eko Hospital, Lagos, and another three, traditionally by herbal medicine practitioners.”

Like Mustapha, Olushagbemi is depressed and disappointed that democracy, which he fought for in so much pain, is not fulfilling its promise to Nigerians.

Several years after that election, which seemed to highlight the fact that though tribe, tongue, and religion may differ in Nigeria, Nigerians could still stand in brotherhood if properly led by the elite. Many of those, who fought to try to realise the June 12, 1993 dream are disillusioned that their dreams are still very far from fulfilment.

“One could see that for a long time, a predominantly Christian area voted for Abiola-Babagana Kingibe (a MuslimMuslim ticket.) If that can go by, we may not have any other election that will cut across,” says President, CD, Dr. Joe OkeiOdumakin.

“In this country of ours, people never learn from history. When we don’t learn from history, there is the tendency for history to repeat itself. June 12 was free and fair, but all the other elections that we have had, nothing good has emerged from them.

We found out that there was no sponsoring of candidates – goddfatherrism during June 12. But now, it has become the order of the day,” she says.

Okei-Odumakin declares: “That is why we still have to insist that what we have now is not democracy but civil rule. If the people in power want to see it as democracy, well, it is their own democracy. What we have now is civil rule.”

Odds May 29, 1999, the day civil rule was restored with former president Olusegun Obasanjo as leader, emerged from series of fracas arising from June 12, 1993. That election featured two presidential candidates – Abiola for the Social Democratic Party (SDP) and Alhaji Bashir Tofa for the National Republican Party (NRC) in a two party system created by the Babangida military regime.

Abiola, with a massive economic prowess and experience, which Tofa significantly lacked, was popular with traditional rulers across the country. He also commanded

Nigerians on June 12 anniversary

Mustapha (Mr. June 12)

Abiola alighten from blackmaria

the crowds among the populace. He was widely seen as one prepared to commit class suicide in favour of the masses. He had appreciable support within the military and civilian wings of the Nigerian petty-bourgeoisie.

But, there were odds against the multimillionaire businessman on both the domestic and foreign scenes. Abiola agitation for reparation for Africa to compensate nearly one century of slavery by Western powers is a confrontation the West showed unrepentant aversion for. They were ready, many believed, to fix things by themselves or caused things to be fixed to ensure reparation to Africa never happens. Openly, however, the Western countries supported the 1993 presidential election.

On the domestic scene, Abiola was perceived among the ruling class as too rich to keep any effective allegiances. The ruling class elements felt he would hardly owe his position to anybody or group. Arthur Nzeribe and his Association for Better Nigeria (ABN) offered a veritable tool for the execution of the odds against Abiola.

The group got a court injunction from

now late Justice (Mrs.) Bassey Ikpeme of the Federal High Court, Abuja, on June 11, 1993 to stop the June 12 election. But, the election went on with the express permission of Babangida and then National Electoral Commission (NEC) chairman, Professor Humphrey Nwosu.

Yet, as Abiola came rapidly close to winning the election, Babangida aborted the process on June 23, 1993, and subsequently constituted an Interim National Government headed by Ernest Shonekan, with General Sani Abacha waiting in the wings.

Abiola soon made good his purpose by taking over government from Shonekan.

He died on July 7, 1998, one month after Abacha’s death on June 8. The businessman turned-politician died in prison after being detained for declaring himself president of Nigeria based on the outcome of the June 12 election, which was tipped clearly in his favour before it was cancelled.

The cancelation shocked an expectant world and consigned onto the rubbish dumps the votes of about 14 million Nigerians of the freest election in the country’s history. The sudden cancellation of

the results of the election left many within and around the world, grouping for explanations. It was a totally unexpected turnabout for what was supposed to be the highlight of a multimillion naira, multiyear transition programme and a coming of age of sorts for Nigerian electorate and politicians. The election was presumably intended to end a tortuous and seemingly interminable transition to civil rule.

Incidently, Tofa has been quoted severally, in recent times, to have said that “the June 12, 1993 presidential election was a fiction and its anniversary not worth celebrating.”

According to him: “Only those who don’t have anything to offer to this country to move forward can still be talking about June 12 presidential elections…. I am not one of those people that celebrate fiction, that is more reason I don’t like to be talking again on June 12, elections.”

This is understandable. The elections may not mean much to Tofa because, according to the publicity secretary of the CO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, June 9, 2014

23

Ghost of June still hunts Nigeria, 21 years after — Okei-Odumakin Dr. Joe Okei-Odumakin is the President, Campaign for Democracy (CD). She tells ISIOMA MADIKE in this interview that though, Nigerians are relieved on the success at sending the military back to the Barracks, they are unhappy because they are yet to genuinely reap the fruits of democracy they fought for.

Fifteen years inside civil rule, and 21 years after June 12, how has Nigeria fared in enthroning the virtues of democracy for which Nigerians remember that date?

Nigeria as a Nation hasn’t fared much in terms of meeting the aspiration and yearnings of the Nigerian people, who fought tirelessly for the enthronement of democracy, particularly those who lost their lives in the course of the struggle. I must also state that 21 years after the June 12 presidential election, the ghost of June has continued to hunt our Nation, Nigeria.

What is your position on the view in some quarters that June 12, rather than May 29, is Nigeria’s real democracy day?

It’s actually a consensus opinion because the May 29 Democracy Day is a Military imposed commemoration and does not in any way symbolise the struggle for the enthronement of Democratic rule in Nigeria. As far as I am concerned, which I believe is a popular opinion among Nigerians, what gave birth to the return to civil rule on May 29 was the June 12 struggle. Therefore, June 12 remains and has always been the day that we celebrate as our Democracy Day. Despite being one of the core structures of democracy, civil society in Nigeria has

seemed to be week. What do you think is responsible for this?

I may not completely align with the view that the Civil Society structures in Nigeria have gone weak. The truth remains that the approach by these groups have changed and this may have been responsible for the seeming silence, which does not necessarily translate to weakness. We need to remind ourselves that Nigeria is under a Civil rule and this has drastically reduce the resort to barricade in addressing societal issues by the Civil Society Organisations. Nonetheless, Civil Society groups have continued to serve as watchdogs, thereby, checkmating several excesses of Nigeria’s current ruling class. I can confidently say that the situation in Nigeria would have degenerated worse if not for the consistent pressures regularly mounted on government structures in Nigeria in the last 15 year.

How can civil society organisations be made more effective in Nigeria?

The most preferred way of making the Civil Society more effective in Nigeria is by ensuring that the ideals upon which the organisations are founded are devoid of government interference and primary motive of profit making. This has been the major reason why many Civil Society Organisations have lost their values and become irrelevant to-

Okei-Odumakin

day in the country.

How do you feel 21 years after the struggle that brought you and other Nigerians so much pain?

It is much of mixed feelings; while we felt some relief on our success at sending the military back to the Barracks, I, like others are surely still unhappy that Nigerians are not yet genuinely reaping the fruits of democracy.

What kind of democracy did your organisation struggle for?

The kind of democracy that our organisation struggled for is that which guarantees a better life for Nigerians.

The kind that is built on people-oriented

programmes like the Hope ‘93 manifestos of late Chief Moshood Kashimawo Olawale (MKO) Abiola; but unfortunately today, what we have is a government of the few, by the few and for the few. Government today in Nigeria is not yet meeting the total aspiration of the Nigerian people and that is not what we fought for.

What is your message to Nigerians on this June 12 anniversary?

My message to Nigerians on June 12 is that it is not yet Uhuru and that the democracy we all fought for as symbolised by the June 12 has not yet been entrenched in Nigeria. We must not relent until the dreams of those who fought the June 12 struggle is actualised.

Abiola’s appeal transcended ethnic, religious barriers CONTINUED FR O M PAGE 22

All Progressives Congress (APC) in Lagos State, Joe Igbokwe, “he has no sense of history. But, the world knows about June 12, 1993 presidential elections in Africa’s most populous country; the crisis, the pains, the agonies, the tears, the killings, the deaths, the chains of events that followed the annulments of that election, and the price Nigeria has paid for this mistake for 21 years.

“Tofa and his like may not know this but the trouble of June 12 will ever continue to haunt us until we come to terms with what transpired in those years of locusts. June 12, 1993 will continue to remind us of how Babangida and Abacha used the full weight of the Federal Military Government and the instrumentality of State power and machinery to destroy Abiola, his wife, his business and nearly five thousand other Nigerians between 1993 and 1998.

“21 years after the election and 15 years

Fawehinmi

Beko Ransome-Kuti

into our renascent democracy, Nigeria is getting into deeper troubles every day.

Militant organisations have been continuously putting knives on things that held us together and, like the famed Chinua Achebe’s classic novel, Things Fall Apart,

the centre can no longer hold.”

Election Day The day of the election had started on an auspicious note. The weather was fine and the outlook of the people was sunny.

Voters queued up in orderly manner across the length and breadth of the country. And the umpires, the men and women of NEC were in fine mettle – glad, no doubt, that the novel electoral system they introduced was undergoing its biggest test without undue stress. With election completed, the electoral body embarked on collation and announcement of results from the ward level. And, with most of the votes from most parts of Nigeria already counted, it was clear that Abiola’s team was clearly in the lead.

Abiola’s appeal in the election had transcended ethnic and religious barriers. He won declared elections in northern states such as Kano, Jigawa, Kaduna, Borno, Yobe, Plateau, Taraba and Benue. He also won in such other states as Anambra, Edo, Delta, Cross River, and Ondo. Local and foreign monitors tagged the election the best ever conducted in the history of Nigeria.

CO NTINUED O N PAGE 24

24 INVESTIGATION

Sanctity of Truth

Death broke four-year detention logjam

Williams

Ajayi

Kudirat

CONTINUED FR O M PAGE 23

When it became evident that Abiola would win, Tofa was said to have sent him congratulatory messages.

Reports also had it that, as the results were being announced, the prices of goods and services were dropping. There was even the story of a tailor, who refused to be paid for the services he had rendered. He was overjoyed that “at last” hope has come to the people. But, the hope died.

Contrived tussle Abiola and his mandate’s long tussle began on the eve of June 12. The then notorious ABN under the leadership of Nzeribe, had filed an application in an Abuja court asking that NEC be restrained from conducting the Presidential election. Many Nigerians, who had hitherto been prepared for the election, were jolted by the news on June 11 that Ikpeme had ordered that the election be stopped.

Unruffled, Nwosu-led NEC had gone ahead to conduct the poll. Nigerians trooped out in their millions to cast their votes for a man whom they deemed capable of steering the wheel of progress. At the end, it was adjudged by many to be the freest and fairest election in the nation’s history.

But, the hope of Nigerians was soon dashed when days after the election it was annulled on June 23.

The legal tale of Abiola’s mandate was further illuminated when the Chief Judge of the Federal Capital Territory, Justice Dahiru Saleh, issued an injunction restraining NEC from releasing the election results pending the determination of ABN’s application that the election be stopped, which NEC failed to comply with. Issues eventually came to a head when Babangida announced the annulment of the election.

The attendant uproar was unprecedented as thousands of Nigerians trooped to the streets in protest of the cancellation of their mandate. In the process, several lives and property were lost.

On June 11, 1994, exactly a year after the election, Abiola, in what has become known as ‘Epetedo declaration’, proclaimed himself as the President and Commander-In-Chief of the Armed Forces of Nigeria. After the declaration, he was arrested by the Abacha regime at his Lagos residence on June 23,

Riot after the annulment

Laying of wreath at Abiola grave site

1994. Two weeks later, he was arraigned before the Federal High Court, Abuja on a three-count charge of treason. He was, thereafter, clamped into detention.

Till he died on July 7, Abiola fought desperately to ensure the rule of law and justice concerning his mandate. Abacha was observed to have used delay tactics to stall the full process of law. Until his own death, Abacha maintained that the fate of the man he held in the gulag for four years, rested in the court.

But, contrary to this statement, he refused to appoint the needed justices to the Supreme Court. So much was the delay that the then Chief Justice of the Federation, Mohammed Uwais, alerted the public that nomination of the new justices had been forwarded to the Provisional Ruling Council for more than 18 months, but nothing was being done about it.

While this lull went on, a new and malicious quarrel erupted over Abiola’s legal representation. Not only was it a legal quarrel, it was also a family affair. While

Abiola’s wife, Kudirat, insisted on Ajayi to represent his husband, Kola, Abiola’s first son, preferred that his father’s case be handled by another legal luminary and SAN, Chief F.R.A. Williams.

It was during this squabble that Kudirat was gunned down by unknown gunmen in Lagos on June 4, 1996. Thereafter, Falana declared that the “treason charge on Abiola had died with Abacha.”

Death of the custodian Everyone dreamt of a free Abiola, who would somehow return to claim his presidential mandate. Even though, he was not formally freed, death broke the logjam created by his four-year detention. It was a rude awakening. Abiola was eventually released, but not to the millions, who voted for him. He was set free by death. Until he gave up the ghost and hence the struggle for his mandate, many Nigerians had been optimistic that his experience would be ‘from prison to praise’. But, that was not to be.

Monday, June 9, 2014

Nzeribe

Since the night of June 23, 1994, when a 600-man mobile police force stormed Abiola’s Lagos residence to effect his arrest, his gaolers, apparently had a mission. They seemed to have decided he would rot in jail.

As a result, throughout his 210 weeks in detention, he was kept in solitary confinement – a psychological torture designed to shatter a man’s most rugged possession – the human spirit, that self-will to live, to overcome.

Sources, who witnessed the bizarre scene when policemen dragged him into a police 504 station wagon, had said: “They pressed Abiola down to the seat of the car and learned over him so that the crowd at the gate would not know that he was being taken away.”

Once out of Lagos, Abiola’s psychological torture began. Punishment was applied in savage doses. He was moved from prison to prison until he was permanently kept in Abuja, the seat of his detractors.

While in detention, Abiola, according to reports, was subjected to unpardonable and unmentionable dishonour. The multimillionaire businessman was brutally humbled. He was locked up for 24 hours, except when his meals were served.

The meals, which were said to be delayed most of the time, were quickly handed over to him after which the door was firmly secured. On the few occasions that he was allowed visitors, he received them in a room reportedly fitted with security listening devices to monitor his conversations.

Abiola’s place of confinement was said to be so filthy and smelly that he could neither move around comfortably nor exercise himself. His solitary imprisonment was total. He was denied access to all forms of communications. Even his portable ‘sorry’ radio was seized by the police guarding him. Until his death, Abiola’s hunters played politics with his precious life.

At various points when he became critically ill and needed thorough medical check-up, Abacha refused to grant it.

But, when he died on June 8, many Nigerians saw his death as a palliative to the myriad of problems in Nigeria. Soon after that, Abiola’s imminent freedom raced through the land like wild fire. Although, contrary to expectations, he regained his freedom but never again treaded the surface of this earth. How sad!

BUSINESS MONDAY, JUNE 9, 2014

WHAT'S NEWS Deloitte list Nigeria’s investment challenges Deloitte has listed some of Nigeria and other African countries’ major investment challenges as stability, consistency and transparency.

}p-26

Doubts over Aerotroplis projects for four Nigerian airports There are doubts as to whether the aerotropolis for Nigerian airports, particularly for Lagos, Abuja, PortHarcourt and Kano airports, are still on course.

}p-30

Tanzania starts Africa’s first interoperable mobile Tanzania is to begin the first interoperable mobile money service in Africa following an agreement signed by three telecoms companies operating in the country – Tigo, Airtel and Zantel- to adopt a common platform by the end of the month.

}p-32

Nigerian stocks advance on Emefiele’s resumption In spite of the three-day depression last week, riding on operators’ expectations of market-friendly policies from the new Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, the Nigerian stock market remained resilient to close the week cumulatively on the green region.

}p-34

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 WOLE SHADARE, Aviation Editor

ABDULWAHAB ISA, Finance Editor CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter JOHNSON ADEBAYO, Asst. Production Editor

www.newtelegraphonline.com/business

NIGERIA SHOULDN'T BE IMPORTING HER CURRENCIES –EMEFIELE }p-28-29

AYODELE AMINU, DEPUTY EDITOR, BUSINESS

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

NAMA shops for N4bn flight-check plane SAFETY Operation of NAFIS is very important for safe and smooth flight navigation Wole Shadare

T

he Nigerian Airspace Management Agency (NAMA) needs to source N4 billion to revitalise operational activities in the Navigational Aids Flight Inspections and Surveillance (NAFIS) department, which includes acquisition of new aircraft for calibration.

For many years, NAMA had engaged the services of ASECNA, a Senegal-based aviation regulatory body that has continuously helped Nigeria to flight-check her navigational facilities to ensure accurate reading. This has cost the nation several billions of naira and it would have been cheaper had NAMA’s calibration airplanes been serviceable.

The new airplane would help to complement the Hawker Siddley (HS) 125 700B calibration airplanes, which has aged and remained grounded, thereby, impacting on the cost of maintenance and operations.

These were the positions of the Acting General Manager, NAFIS, Stanley Dasilva, on the position paper he sent to the Managing Director of NAMA, Ibrahim Abdulsalam, titled: “Challenges impeding the sustenance of smooth operations of navigational aids flight inspection and surveillance (NAFIS),” which was obtained by our correspondent.

The NAFIS department is saddled with the statutory function of providing flight calibration, inspection and surveillance of navigational aids at airports, en-route and airfields across the country.

NAFIS was modeled after the civil aviation-flying unit of United Kingdom Civil Aviation

DELE ALAO, Brands/Marketing Editor CHRIS UGWU, Capital Market Editor

NEW TELEGRAPH

25

Authority.

For more than two decades, the department has been carrying out flight calibration, inspection and surveillance operations.

Dasilva in the said memo had lamented that the only aircraft in the fleet of the department is the HS 125 with registration 5N-AVK, adding

that the aircraft was manufactured in 1982.

He noted that for an aircraft that is over 30 years of age, cost of maintenance has gone up astronomically, stressing that the calibration aircraft had been on ground and unserviceable for five years due to 48 month mandatory maintenance inspection.

To him, the inspection is proposed to be carried out in Nigeria at Execujet Aviation Services, which he said has an Approved Maintenance Organisation (AMO) facility certification by the NCAA to carry out such level of maintenance work.

CONTINUED ON PAGE 26

L-R: Michael Vincent, advisory leader, Deloitte West Africa; Tawanda Gumbo, transitional leader, Deloitte Nigeria; Steve Almond, global chairman, Deloitte, and Femi Abegunde, chairman, Deloitte Nigeria, during a breakfast meeting with clients and corporate CEO’s in Lagos.

Nationwide cashless policy'll put pressure on e-payment –Experts CBN: No cause for alarm Jonah Iboma

T

here would be enormous pressure on the electronic payment systems immediately the Central Bank of Nigeria (CBN)'s cashless policy takes off nationwide next month, experts in the technology industry have said.

According to them, once the service goes live nationwide

on July 1 as planned by the apex bank, bank customers will increasingly resort to the use of electronic payment options such as automatic teller machines (ATMs), point of sale terminals (PoS) and internet banking, which would increase traffic on the e-payment system.

Mr. Austin Egbunike, Chief Executive Officer, Cane Digi-

tal Services Limited, said that once the policy becomes fully operational, more people will use e-payment systems and this in turn will require banks to have more-payment transaction points and bandwidth to drive their systems.

He said that there would also be increased need for reliable network infrastructure to support reconciliation of CONTINUED ON PAGE 26

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

LENDING RATE

EXCHANGE RATE

(Parellel As at June 6)

USD . . . . . . . . . . . . . . . . . . N166.50 InterBank Rate . . . . . . . . . 10.50% Pounds . . . . . . . . . . . . . . . . . . N285 Prime Lending Rate. . . . . 16.93% Euro . . . . . . . . . . . . . . . . . . . . . N229 Maximum Lending Rate..25.83% • Foreign Reserves – $36.755bn as at 06/06/2014

EXCHANGE RATE

(Official As at June 6))

USD . . . . . . . . . . . . . . . . . . . N155.73 Pounds . . . . . . . . . . . . . . . N260.86 Euro . . . . . . . . . . . . . . . . . . . . N211.31 Source: CBN

26 BUSINESS | NEWS INEFFICIENCY Nigeria has huge assets in its population, which is underutilised Ayodele Aminu

D

eloitte has listed some of Nigeria and other African countries’ major investment challenges as stability, consistency and transparency.

Besides, Deloitte, which operates in over 100 countries, including Nigeria, providing audit, consulting, financial advisory, risk management and tax services to select clients across the globe, said that only a few people benefit from the enormous revenue generated from Nigeria’s oil and gas busi-

Sanctity of Truth

Monday, June 9, 2014

Nigeria’s biggest investment challenges, by Deloitte Says only a few benefiting from oil nesses.

Deloitte’s Global Chairman, Steve Almond, disclosed these in Lagos during an interactive session with select journalists at the weekend.

“What the business community likes anywhere in the world is stability, consistency and transparency. These are the biggest challenges for Nigeria and many other African nations. And you can apply these to critical situations like the rule of law, corporate gov-

ernance, tax system and flow of talent. If we look at some of the well-known indices like the global competitiveness index and ease of doing business index produced by the World Bank and International Monetary Fund (IMF), Nigeria is in the lower end of those indices.

So, I think Nigeria needs to look at what levers it need to push or pull to improve its competitiveness, the ease of doing business and to improve different talents.”

Noting that Nigeria has huge assets in its population, which is under-utilised, he said that from his interactions with business people and clients, what the business community needs is a flow of talent to respond to the market opportunities in Nigeria with the right skills.

“Just having a lot of people is an asset but unless you equip them to meet the demands of the business community, then you continue to have a challenge of youth unemployment.

Job creation is huge challenge in Africa. It is particularly a challenge if you’ve got a huge population as we have in Nigeria. So, I think, investing in education will be a very big priority for me if I have a say in Nigeria, both for economy advancement and social advancement.”

Moreover, he noted that another challenge for Nigeria and most of African countries is social inequality.

“Social index, which is an alternative measure to Gross Domestic Product (GDP), measures the advancement of the country across the whole range of environment and social measures component to GDP. Nigeria is one of the countries that do less well in the social progress index, relative to its GDP per capital. So, it is less on social index compared to GDP per capital. That is common with other oil-rich countries like Russia and Saudi Arabia.

All these do less well on social progress index than on GPD per capita, which suggests that the benefits of those oil and gas assets are not flowing through many, rather they are flowing to a few,” he concluded.

Consequently, he said that education would be a strong way of closing that inequality gap by creating jobs.

Also, corruption, he stressed, needs to be tackled because there are indications that it is huge drain on ease of doing business index and on GDP.

NAMA shops for N4bn flight-check plane C O N T I N U E D F R O M PA G E 2 5

R-L: Mr. Igwe U. Igwe, Head, Corporate Communications, Enterprise Bank Limited, Mr. Ogie Eboigbe, Mrs. Lola Odedina, President, Association of Corporate Communication Professionals of Financial Institutions (ACAMB) and Head of Communications & External Affairs of Guaranty Trust Bank Plc, Mr. Peter Walker, Chairman Pielle Consulting and guest speaker and Mrs. Folake Ani-Mumuney, Head, Marketing & Corporate Communications, First Bank of Nigeria Plc at the 2014 edition of ACAMB Summit, held at the Bankers’ House in Victoria Island Lagos.

CBN ready for nationwide cashless policy C O N T I N U E D F R O M PA G E 2 5

accounts and completion of transaction.

“Once the cashless policy takes off across the country, there will be extreme pressure on the e-payment system and more broadband will be needed by banks. Banks will need additional bandwidth to support the data that will be generated and if the bandwidth is not sufficient, this could lead to data corruption and this will mean that greater effort in terms of account reconciliation would be needed by banks,” he said.

President, Association of Software Testing and Quality Management Nigeria (ASTQM), Mr. Akinwale Akingbade, also said under the new policy, banks will be required to ensure that they have proper internet access, and highly functional and available infrastructure, otherwise, people will be dissatisfied.

He said, “Now that the Central Bank of Nigeria is saying that everybody should go cashless, we need to realise that things such as availability, infrastructure and internet are extremely important towards the success of such

initiatives.”

Akingbade noted that the impact the new policy would have on rural dwellers need to be properly studied, especially against the backdrop of service reliability and security. He stated that many electronic payment options such as ATMs in rural areas currently suffer from downtime, noting that once the cashless system commences fully in the country, this problem could worsen.

He therefore called on banks to embark on putting right infrastructure in place to monitor e-payment systems in the country.

“There is need to test to know whether people in remote areas who want to use ATMs can actually do so.

There is also need to provide security for ATMs. There is need to have reporting tools that monitor all ATMs in the country and ascertain their conditions,” he remarked.

Egbunike noted that the policy could however, benefit telecom firms, as they will be the ones to provide bandwidth for the banks to render these services.

The cashless policy initiative, which is now across six states and Abuja, would

become effective nationwide from July 1, 2014.

The policy commenced with the Lagos pilot phase in January 2012, before moving to states like Rivers, Kano, Ogun, Aba, and Anambra, as well as FCT, Abuja.

Statistics have shown that there has been shift from the traditional cash carrying system to electronic form of payment.

But head, CBN shared services, Chidi Umeano, said that there is no cause for alarm. He said that the banks taken into consideration the anticipated pressures on the e-payment systems.

"There should be no cause for alarm. There are lots of channels for making payments and the Bankers' Committee is also collaboration with the Nigeria Inter-bank Payment System (NIBSS) instant payment and the NIBSS Electronic Funds Transfer (NEFT).

Also, don't forget that epayments are easier, faster and more connvinient than people having to go and queue up in the banking halls.

So, we are ready for the full implementation of the cashless policy," said.

He however, stated that the mandatory inspection is expected to cost over $1 million at the initial inspection and defects that might arise in during maintenance, adding that the mandatory inspection also includes engine replacement and equipment upgrade to meet current airworthiness requirement of NCAA and aircraft manufacturer.

“These replacement engines are on ground in NAFIS hangar, though their relevant documents are yet to be sighted and their preservation period will expire by August 2014. Additional cost may be incurred except the engines are installed before the preservation period expires.

“We have seen aircraft fleet dropping from four to one. Even the only aircraft remaining in the fleet has been on ground now for over five years. Consequently, providing funds for scheduled mandatory maintenance inspection have become a big challenge due to paucity of fund”, he added.

He lamented that funding has been a major challenge, stating that even when little funds are provided, it has not considered flight calibration and inspection a priority. This he said is because government policies in this direction have not been driven with adequate funds, commitment and prioritization.

“Government should realise that flight calibration, inspection and surveillance are her sole responsibility. For safe operation of aircraft in our nation’s airspace, it cannot continue to neglect NAFIS department in view of the economic benefit and security implication,” added.

Dasilva further stated that in March 2012, NAFIS depart-

ment in NCAA was hurriedly transferred to the NAMA without considering the implication and putting adequate measure in place to address the challenges of the department, regretting that the issue of funding, personnel and professional matters were completely ignored.

According to him, prior to the transfer of NAFIS to NAMA, the NCAA had paid for the production of a new fully automatic flight calibration console, which is to be installed on board the HS125 calibration aircraft He equally disclosed that the sum of $2.7 million was paid for the flight inspection UNIFIS 300 console. This he said was done over two years ago and the console has been lying dormant in the manufacturer facility in Norway.

However, he noted that the UNIFIS 300 paid for over the years is due for upgrade due to advancement in aviation technology, stressing that the purpose of the fully automatic console is to facilitate a more efficient procedure of flight calibration services when installed on the aircraft. He said it is sad that the console has not been deployed due to the unserviceability of the HS125 calibration aircraft.

He averred that government should take a critical look at the above-mentioned issues with a view of addressing them, emphasising that the effectiveness, efficient management and coordination of the nation’s airspace system as a standard to facilitate proficient, dynamic and economic operation of air traffic, duly require government to fasttrack implementation of the flight calibration and inspection standardisation.

BUSINESS | NEWS

Sanctity of Truth

Monday, June 9, 2014

27

NLNG made $80bn from Nigeria, says MD DIVIDEND Nigeria has benefited $50 billion from the NLNG project Adeola Yusuf

T

he Nigeria Liquefied Natural Gas (NLNG) has rakedin $80 billion within the 15 years of its operations in Nigeria.

Managing Director of the company, Mr. Babs Omotowa, said this during the official presentation of 'NLNG 2014 fact and figures' in Lagos at the weekend.

He said that Nigeria has also benefited $50 billion from the company's operations.

The NLNG story, which, Omotowa said, started in 1969 when government wanted to diversify from oil and to reduce gas flaring, has been a success story. He said: "The information of how much we have made in 15 years of our operations in Nigeria is not hidden, only that we have to upgrade the figure every year. As at this moment, we have made $80 billion."

He said: “It took over 35 years of that project before they were able to, in 1989, form a company known as NLNG. In 1995, the first investments of $7.5 billion was $5 billion from international oil companies (IOCs) and $2.5 billion from the Nigerian government, was put in the project.

"In January this year (2014), we had achieved 3, 000 cargoes, which represents a 22 million tonnes of LNG and 5million

tonnes of usable bye products."

Omotowa said the NLNG accounts for four per cent of Nigeria’s Gross Domestic Product (GDP). “It is now more than this because we have not rebased ours when the government did it’s rebasing," he explained.

The company, he maintained, has helped tremendously in bringing down gas flaring in Nigeria. "As I said earlier, part of the mission for the establishment of NLNG is to ensure that gas, which was hitherto flared is converted into economic benefits for the coun-

try. “As we speak, 4, 000 trillion cubic feet of gas that could have otherwise been flared has been put into use through production.

“We have paid N27 billion in terms of interest to our shareholders, and we have also spent more than N10billion locally,” he said.

In all, Nigeria has benefited $50 billion from the initial $2.5 billion, which the government put down at the initial stage for the project.

On local content development, Omotowa said: "We have

100 per cent management peopled by Nigerians while our staff are 90 per cent Nigerians. We are indeed a truly Nigerian company because as at this moment, Nigeria has about 70 per cent stake in the company.

“Over N200 billion has been paid as tax to the Federal Government. With this, we are by far the largest and biggest tax payer to government in the whole of sub-Saharan Africa.

“The Rivers State government also get N7 billion from us while N66 million goes to Bonny Local Government.”

Prices of wheat, rice, sugar to rise Bayo Akomolafe

F

amine lurks around the corner as prices of wheat, rice and sugar may shoot up any moment from August, 2014.

It was learnt that shipping lines from Asian countries have decided to shun Nigeria and other West African ports due to inclement weather on the Pacific Ocean. They also prefer to divert to where their operations would not be disrupted by storm and flood.

Already, weather forecasters had predicted that a potential El Nino may wreak havoc on global crops and would disrupt shipping patterns and raise freight costs on these routes.

El Nino, a warming of sea-surface temperatures, is currently threatening ship movement in the Pacific region while Asian farmers and importers are said to be at the crossroads.

Researchers said that the warming of the sea surface could trigger floods and drought in different regions, hitting production of key foods such as rice, wheat and sugar.

Wheat represents about 5 per cent of the volume of global cargo transported by those vessels every year. Rice, on the other hand, only repre-

sents about 3 per cent of the volumes carried by handys and supras ships.

According to Managing Director of Precious Shipping, one of Thailand’s largest dry cargo ship owners, Khalid Hashim, the weather changes could lead to changes in the trades of agricultural commodities.

It was revealed that average water temperatures in the central and eastern Pacific could bring drought to West Africa, the world’s largest cocoa producing region.

It was learnt that while countries in Asia are scrambling to reduce El Nino’s impact, shipping markets expect trade flows will be affected.

“Disruptions are always very favourable to the freight market “Traditionally, South Asian rice heads for Africa and the Middle East. It is therefore those routes that would feel the brunt of potential shortfalls, and those countries may seek their rice elsewhere, in the US. Marc Pauchet of shipbrokers at ACM said that this would increase ton-mile demand comprehensively.

Ton-miles are a key indicator of shipping demand, measuring the volume of the transported cargo multiplied by the distance of the voyage.

L-R: Brand/Marketing Manager StarTimes, Mr. Habeeb Somoye; Assistant Marketing Director, Viju Industries Nigeria Limited, Ms. Andy Liao; Public Relations Manager, StarTimes, Irete Anetor, and a customer, Mrs. Emetoh Esther, at the StarTimes Extra Time promo draw in Lagos.

Stakeholders back FG’s agric project Siaka Momoh

T

he Nigerian Agribusiness Leadership Group (NABG) is bracing up to support the Federal Government’s Agriculture Transformation Agenda, New Telegraph can confirm.

Chairman of NABG, Sani Dangote, made the disclosure at Ikoyi, Lagos, at an Institute of Directors' event, where the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, was guest.

“We are laying a foundation; we are coming up with a

Fast food contributions to economy may drop Dele Alao

I

ndications have emerged that the contributions of fast food industry to the Nigerian economy, which hit N200 billion last year, may drop by 50 per cent this year, New Telegraph has learnt.

Last year, fast food or quick service restaurants (QSR) operators in the country under the aegis of Association of Fast Food and Confectioners of Nigeria (AFFCON), announced N200 billion as contributions of the sector to the economy.

However, stakeholders in the industry told this news-

paper that the sector may not record such a feat this year.

According to them, the rising insecurity in some Northern states, inadequate power supply, multiple taxation, dwindling disposable income in view of rising cost of living, among others, have hit hard on the sector.

“We are operating under a very tight condition. I am sure that revenue from the sector may drop by half compared with last year,” a major operator said under the condition of anonymity.

Findings also revealed that the sector is witnessing high

rate of job loss as most QSRs could not hold on to their staff.

On the importance of the sector, president of the body, Mrs Bose Ayeni, who claimed the sector has over 500,000 workers, said that the sector also pays over N1 billion to the various tiers of government in taxes and levies.

The sector, she noted, has a massive growth potential and is dominated by some 100 small-to medium –sized indigenous brands with over 800 outlets spread across and has the potential to become big given the right environment to thrive.

framework - an institutional draft and vision statement of the association.” He noted that BABG “is doing this because of the increasing realisation by all that agriculture is the mainstay of the economy.”

Dangote, said NABG is very well positioned for the task as a custodian for all agribusiness issues in Nigeria, adding that NABG would have a databank on produce, agricultural processes and information and can become a reference point for agricultural development in Nigeria.

Adesina, while corroborating Dangote, said: “We cannot go far on agricultural transformation in Nigeria without the private sector.” He added adding that the private sector is the engine of growth, stressing that “foreign direct investment (FDI) attraction into this country needs the big business people to engage.

“What we are doing now is making sure that government does what it should do to unlock potentials, give incentives that can make things work, with an objective to grow together.”

He said that he looked forward to members of NABG to identify particular agricultural commodities that can be given attention, “so that we can unlock their potentials.”

The minister assured that

President Goodluck Jonathan will be persuaded to convene a meeting of the Agricultural Transformation Implementation Council (ATIC) to enable stakeholders raise issues of interest in agricultural investment and advised NABG to have its own corporate personnel and be the face of agriculture in Nigeria.

The minister said that government “is going to further harmonise its functions and be better streamlined.”

He challenged the private sector also to demand for critical agencies to work with. “The association should be built around institutions and right regulatory framework that can influence government to act in specific desirable ways,” the minister said.

Adesina agreed that there are challenges of infrastructure, land security and finance and emphasised that everyone needs access to finance, particularly in terms of interest rates.

He disclosed that the new Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, was excited about the agricultural sector.

The minister added that commercial agricultural credit scheme has to be executed based on evidence and listening to people who are involved.

28 MONDAY| INTERVIEW

Sanctity

Monday, Ju

Nigeria shouldn't be importing The new Central Bank of Nigeria (CBN) Governor, Godwin Emefile, unveiled his policy thrust last week in Abuja at his maiden world press briefing. Abdulwahab Isa was there and presents the excerpt.

When do we begin to see a gradual reduction in interest and unemployment rates and what are your plans for the reduction of the housing deficit estimated at 1.8 million?

You asked when the interest begins to go down. This is a question I have answered not just here but even during my screening at The Senate. It is a serious question that I was asked by the senators and I did made a commitment that we will work hard to ensure the interest rate come down. In my presentation, what I have done was to show if you compare our figures in terms of interest rate and loans rate in frontier and emerging market, and I mentioned Malaysia, China, India; South Africa and Turkey. The study we conducted showed that our interest rate regime is actually very high and we would be looking at it, indeed we have started looking at it. We have had extensive discussions with the committee of governors and we would be unfolding various policy measures, which I’m very optimistic will lead to reduction in interest and deposit rates.

You also asked how and when poverty will be reduced. The issue is not just about Gross Domestic Products (GDP) or what rate the banks grow the GDP. Today, the government and the people are beginning to talk about job creation and inclusive growth. We found out that so many of our people, particularly those within age range of 15 and 30 are unemployed and that is the band where you have people that are credible and people who have lots of energy to work. We would put in place, as I said, a lot of policies that will support not only creating jobs for them, but it would also… if they want to develop their entrepreneurial skills, make it easy for them to access finance.

When you make it easy for them to access finance, obviously what you are helping to do is reducing poverty. In the last couple of years, CBN had been involved in granting credits, what I called commer-

Emefiele

Some percentages of our currencies are being printed abroad. Some of the things that we shouldn’t be doing is importing (currency) cial credit scheme, and I was watching the television a couple of weeks ago and I saw a state government, permit me not to mention the name of the governor, because so many state governments have done quite well. During that television programme, we were told that what the government did was that, they went to the streets and carried out what is called enumeration of people that sell wares on the streets - fish, sweet, provisions – just an enumeration of small traders. They enumerated them, took survey of these people and what they do.

They went and established open market, segmented it in order to ensure that those in the middle class benefit so that the big men don’t corner those stalls. After they have been built, they went and picked those people from the roads and allocated stores to them. After allocating the stores to them through the state micro credit agency, they were given loan of N50,000 each at nine per cent interest per annum. Most of the beneficiaries are women and the governor told them that, ‘look we are giving you this loan, not a grant and is not for free but trade with this money, when you trade with this money and pay back, we give more.’

I was moved and indeed I called the state governor and said ‘governor, we can collaborate with you by re-financing what you have done so that you can create more

MONDAY| INTERVIEW 29

of Truth

une 9, 2014

her currencies –Emefiele BIODATA Previous Positions: Group Managing Director, Deputy Managing Director, Qualifications: B.Sc , MBA in Finance both from the University of Nigeria Nsukka.

Works experience: Group Managing Director, Deputy Managing Director, Executive Director, Corporate Banking, Treasury, Financial Control and Strategic Planning of Zenith Bank Plc and lectured Finance and Insurance at University of Nigeria, Nsukka and University of Port Harcourt respectively Years of Experience: Over 26 years.

of those markets.’ Now you can imagine giving N50,000 to about 5,000 people, that is about N250 million. It is not much money but what we are doing through that avenue is reducing poverty, alleviating their lives and making it possible for them to be gainfully employed for life. Those are the kind of things that we will identify in different parts of the country where we find the people or government, where we find institutions that are put in place, programmes that will support creation of jobs and reducing the level of poverty as we identify them. What we will do is to collaborate with them, support them and make it easy for them to access finance so that we can reduce the level of poverty.

What would be your take on politics?

You also talked about the fact that I said we are going to be professional. We would be professional. We would be apolitical.

We will not go into politics. What we will do is to focus on our banking business and use our skills to support the effort of the government to increase jobs for our people. We want to use our effort to support economic growth of the country. It is not just politics, but it is about what contribution we are going to make towards achieving economic growth and development in our country. We want the banking system and the Central Bank to be able to stand and be counted and say yes, we have contributed to the growth and economic development of Nigeria.

What plans do you have for Primary Mortage Institutions and the housing deficit?

Yes, indeed there is a gap in the primary mortgage institutions (PMIs). We will certainly support every initiative towards reducing the housing deficit.

In fact, the CBN as a major stakeholder working on mortgage re-financing programme, we would aggressively support it, but I believe that there is the need for a couple of infrastructure we need to put in place. That kind of infrastructure I’m talking about is where you need to build data bank. A data bank whereby when you take a loan, when you take a mortgage and you don’t pay, it would be easy for the bank to recover that property from you, the foreclosure of property. If you take a loan and you don’t pay, you will be blacklisted so that you don’t take loans again.

Once we are able to put in place those infrastructures, I think it is going to be a lot easier to begin to look at mortgages.

Indeed, with 160 million people, you can’t get it wrong. I will say it’s only in Nigeria that if you want to build a house, you have to pay for the cost of the land with your cash, you have to pay for the blocks; you have to pay for cement with your cash. But in other countries, all you need do is put 10 per cent equity on ground and you can go tell people that you own a home. That is what is done. We will see how we begin

to embrace those practices.

Indeed, we have a lot of cash tied down in our existing mortgage system. If people who have already used their cash to build their homes can re-finance them, use those cash they pulled out to finance programme, it would be easy for us to grow the economy and I agree with you on that.

What is your take on naira devaluation and the confidence that naira would stay within the current trading band?

Somebody asked about the devaluation of naira. For me, I have said that before. Nigeria is a predominantly importdependent economy where we import practically everything. We even import refined oil product when we have crude oil. We import rice, we import wheat when our land is fertile. We import sugar, we import fish when close to 60 per cent of our environment is water. We need to do something about it. It is not possible

for us to consider depreciation, we talk about depreciation because we are under a management float. It’s not possible to talk about depreciating our currency this time until we are able to look into some of the structural problems that made our import bills to be high as it is today. We need to begin to look at how do we begin to produce some of these goods that we know we can produce locally whereas we are importing them. When we are able to do that and we see a situation whereby we have transformed ourselves from being an import-dependent economy to export oriented economy, then you can begin to look at what are the advantages of depreciating and devaluing our currency. At this moment it is not an option.

But we will continue to see what we can do in the short run and to use tools that we can use to hold on strong to our exchange rate. Luckily, crude prices are still favourable at above $100, luckily, we

have a reserve that can support close to about eight months of imports, those are enough ammunition for use to continue to hold on to exchange rate so we don’t go out to the rout of devaluation.

What is your take on Nigeria's foreign reserves?

Someone said that I don’t talk about Excess Crude Accounts (ECA) and sovereign wealth funds. Naturally, I may forget to talk about it, but it is expected that we need to yield, we need to build up our reserves; we need to build and part of the components of the reserves are also the ECA and all that. When we do so, what we are doing is that we are saving for the rainy days just in case the unexpected happens, you are not caught napping.

What happens if banks refuse to stop charges on deposits?

With the abolition of cashless and whether banks are not likely to resist the stoppage of charges, we would be fair and just, but firm. We are regulators and our job is to ensure that the right things are done and when we put policies in place, we will ensure that those policies are adhered to.

What would you want to be remembered for?

For me, I’d like that I do the job. After five years, let Nigerians judge whether we have done our best and they can determine what legacies we left behind.

What is your take on the re-designing of naira and Nigeria Security Printing and Minting Company (NSPMC) The re-designing of currencies is not something I’m looking at yet, but when we look at all the parameters, if the situation calls for that we will look at it, if it doesn’t it will remain the way it is.

On NSPMC, some percentages of our currencies are being printed abroad.

Some of the things that we shouldn’t be doing is importing (currency). We will look at the entire infrastructure that NSPMC has to see how we can develop it to ensure that with the skills and kind of machines that NSPMC has, it focuses on what should be done so that we really tackle the issue of importing currency.

30 BUSINESS | NEWS

Sanctity of Truth

Monday, June 9, 2014

Doubts over aerotropolis projects for four Nigerian airports FAAN cancels Terminal Zero concession deal CONTROVERSY The aerotropolis project is questionable

Wole Shadare

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here are doubts as to whether the aerotropolis for Nigerian airports, particularly for Lagos, Abuja, Port-Harcourt and Kano airports, are still on course.

The aerotropolis project embarked upon by the sacked Minister of Aviation, Stella Oduah, may have come under probe following allegations by the House of Representatives Committee on Aviation that the project lacked clear-cut direction.

The committee, however, stated that the project and its details were enmeshed in serious secrecy without knowing how the Ministry of Aviation and the Federal Airports Author-

ity wanted to fund the project at a go with lean its resources, saying that there was more to it than meet the ordinary eye.

Chairman of the Committee, Nkiruka Onyejiocha, stated that aerotropolis is a good concept but said that the committee wanted to know the relationship between Aerotropolis Company Limited, their directors and Arotropolis Company; a situation they said does not make the whole idea of the project transparent.

Managing Director of the Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma, said that he was not aware of anything about Aerotroplis as embarked upon by the ministry.

He said: “I don’t know anything about aerotropolis but what I know is the strategic development of the airports, which is expected to bring industries that are aviation related and those that can help develop the airports. What we have done is that we got land

in Abuja with the Federal Capital Development Authority (FCDA) and they want to do infrastructure design. We have signed a Memorandum of Understanding (MOU).”

Dunoma said the lack of space for development at the Lagos airport has made infrastructure development very cumbersome.

"Yes, many agreed that aerotropolis well implemented could bring enormous boost to the nation as it is done in many big airports across the world like what is obtainable in London Heathrow, Chicago, Frankfurt, and Dubai airports across the world," he said.

Travel expert, Mike Ohimemen told New Telegraph that lack of infrastructure coupled with lack of political will were capable of making the reality a mirage.

Commercial hubs such as Lagos, Abuja, Kano and Port Harcourt are being primed to host the aerotropolis. There is a plan to develop a 5-star hotel

L-R: Group Head, Revenue Collection and Franchise, Skye Bank Plc, Mrs. Bola Allinson; Chairman, Ojokoro LCDA, Benjamin Olabinjo; Council Manager, Ojokoro LCDA, Rasheed Pedro; and Mr. Olajide Ibrahim of Skye Bank Public Sector Group, during the launch of Point of Payment for Levy collection at Ojokoro LCDA in Lagos.

Review Land Use Act, expert tells govt Dayo Ayeyemi

T

he Acting Director General of Nigerian Pension Commission, Mrs Chinelo Amazu, has canvassed the review of the Land Use Act. She also stressed the need for property registration process and provision of guarantees in form of mortgage insurance to lenders by government to pave the way for investment of pension fund in the housing sector.

As at March 2014, over N4 trillion had accrued to the Pension Fund.

Mrs Amazu who spoke at the 50 years anniversary of the Association of Housing Corporation of Nigeria

(AHCN). She also suggested the creation of viable secondary mortgage market, a national credit database and continuous review of macroeconomic policies to stabilise inflation and interest rates in order to boost pension fund investment in housing development.

She had earlier identified the Land Use Act, liquidity constraints, pricing problems, inadequate knowledge of managers and advisers, shortage of data, specific risks associated with mortgage/housing investment, conflicts of interest and other governance issues as hindrances to pension investment in housing development.

According to her, the Land Use Act which vested all land in government and liquidity constraints have become obstacles limiting the investment of pension fund in housing.

She also listed construction risk, counterpart risk, credit risk and interest rate risk as part of the obstacles.

Mrs Amazu also mentioned inadequate mechanism for risk sharing that prevents pension funds from extending mortgage loans to lower income segment, regulatory constraints as it relate to asset classes, liquidity, concentration and diversification, ratings, valuation rules, performance regulation, solvency and funding rules as part of the obstacles

close to MMIA. He said that lack of good network of roads, airports, railway lines, telephones, electricity grid and telecommunications were issues that were not tackled before the former minister embarked “on what many have tagged white elephant project.”

Elsewhere, aerotropolis is not only real, it has taken root and blossomed to some of the most concrete and enduring examples to point at. Airports are no longer staging points for arrivals and departures of passengers and aircraft.

Amesterdam’s Schipol Airport, believed to be the world’s first airport city with more than

58,000 people who work daily within the airport grounds, is a modern transport hub integrating people and businesses, logistics and shops, information and entertainment.

Meanwhile, the FAAN has cancelled concession deal of Terminal Zero Company, the firm handed a deal to build a four star hotel, directly situated in front of the Murtala Muhammed International Airport terminal.

FAAN had concessioned the site and the temporary car park to the firm for 36 years at the cost of N35 million; a deal Onyejiocha said was not favourable to the sector.

Industry stakeholders bemoan gridlock at Lagos ports Siaka Momoh

I

ndustrialists, shippers, industry-related government agencies gathered recently in Lagos at the instance of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), to brainstorm on the business-crippling gridlock at Lagos ports.

Executive Secretary/CEO, Nigerian Shippers Council, Hassan Bello, reeled out the geography and logistic challenges to include growth and expansion of Lagos city over the years, in close proximity to the ports; enclosure of the ports, leaving no opportunities for inland expansion; the large volume of traffic in the city of Lagos posing great challenge to the movement of cargo and empty containers in and out of the ports.

He also listed poor connectivity to the hinterland arising from inadequate road and rail network links between the ports and the hinterland; and location of tank farms close to the ports causing fuel tankers to compete with cargo trucks on the same limited space of roads.

He said: “Everybody’s activities contributes to the gridlock in one way or the other – Nigeria Customs Service, shipping agents/companies, ports and terminal operators, regulatory agencies, freight forwarders, shippers and government agencies.”

Bello said that major complaints against the shipping companies include delays in the delivery of cargo by carriers; cumbersome documentation procedures on the part of the shipping lines/agents; misinforming shippers of the date of arrival of their goods so that they can charge demurrage for longer period; outrageous and unilateral shipping charges.

He lamented that these un-

wholesome practices create a lot of bottlenecks when shippers dispute spurious and arbitrary charges.

The Shippers Council CEO also indicted the Nigerian Customs Service and unscrupulous shippers. He said: “In playing its role as a key revenue collector for the state, Customs has, many times, been accused of creating bottlenecks in cargo clearance rather than facilitating the process. Customs activities in the verification of cargo documents in order to forestall false and under-declaration by shippers often delay the process.

“The attempt by unscrupulous shippers’ to evade duty payment leads to closer scrutiny of documents which could add to gridlocks in cargo clearance."

Port terminal operators also got some batching from Bello. Bello noted that often, the poor performance of this leg leads to enormous cost on the part of the cargo owner.

For him, “ports operations need to be efficient in terms of reduction in number of ships waiting to berth, adequate truck staging areas outside the Ports to decongest port access, a truck appointment system for cargo pick-up or delivery, modern equipment for cargo handling and processing and the availability of ancillary services (customs and banking).

He noted that often, some shippers contribute significantly to the delayin the clearance of goods at the ports due to the reluctance of some shippers to pick up their cargo for reasons of insolvency, malpractices such as importation of contrabands or fake products, under-declaration of goods, naivety or ignorance on the part of many small type shippers about the intricacies of international trade and shipping.

BUSINESS | PERSPECTIVE

Sanctity of Truth

Monday, June 9, 2014

31

Recent changes of guards at CBN Ayo Teriba Is Nigeria developing a single-term syndrome?

The appointment of a new governor to lead the Central Bank of Nigeria (CBN) from June 2014 to June 2019 brings the number of persons so appointed since May 29, 1999, to four, although only the last two appointments were made after the 2007 CBN Act was signed into law on May 28, 2007. Joseph Sanusi (1999-2004) and Charles Soludo (2004-2009) had been appointed by President Olusegun Obasanjo, while Lamido Sanusi (2009-2014) was nominated by President Umar Yar’adua and confirmed by the Senate, and President Goodluck Jonathan has lately nominated Godwin Emefiele for 2014-2019.

He has since been confirmed by the Senate and has assumed duty on the 4th of June 2014.

The occasion affords us the opportunity to reflect on what our lessons from the preceding three regimes can teach us about the next five years. It is instructive to note that while the CBN Act had always allowed for a possible maximum of two terms of five years each, none of the three persons to occupy the office so far had been deemed fit for second terms in office, each tending to assume office with seemingly very high credibility only for such credibility to be eroded before the first five-year term is up. This raises a lot of questions: Is Nigeria developing a Single- Term Syndrome? Or, why do Nigeria’s CBN Governors find it so difficult to succeed? Why do they end up failing so catastrophically?

Why is it that Nigeria (specifically the President and the 109- member strong Senate specifically) does not know how to appoint CBN Governors who will be successful (at least in their first five years). Will Mr. Emefiele now break the jinx?

Joseph Sanusi’s tenure President Obasanjo dramatically named Mr. Joseph Sanusi as the Governor of CBN as soon as he was sworn in as President at the Eagle Square on 29 May 1999, cutting short the tenure of the incumbent Mr. Paul Ogwuma. Sanusi was then the Managing Director of First Bank, the largest commercial bank in the country at the time, and he was Deputy Governor at the Central Bank before that. Unfolding events over the next four years were to expose Sanusi’s poor grasp of the main economic issues confronted in President Obasanjo’s first term (often relying on one of his Deputy Governors at the time, the LSE-trained economist, Dr. Shamusudeen Usman, to answer the difficult economic questions), notably depreciation of the naira and concomitant increases in inflation and interest rates, coupled with Mr. Sanusi’s indecisive approach to the resolution of weak banks throughout his tenure, especially his infamous ‘life boat arrangement’ in which healthy banks were asked by the CBN to lend to the not-so-healthy ones with CBN’s guarantee, meant that the President needed a more competent person to take charge on the expiration of his tenure.

Charles Soludo’s tenure President Obasanjo also dramatically named Professor Charles Soludo as Joseph Sanusi’s replacement a few weeks to the end of the latter’s tenure. Dramatic because Soludo had been the Chief Economic Adviser to the President in the 11 month period before his new appointment, and he appeared to have been doing a good job of redefining medium-term economic reform priorities and galvanizing popular support for same across the country. He arrived the CBN with this favourable image, announced a gigantic bank consolidation project that eventually meant that the 89 banks in the country were forced to merge into about 23 within a couple of years, with too much emphasis on high equity base. This coincided with the strongest upsurges in global commodity prices and global liquidity in recent decades. The Naira appreciated at an annual average of about 4 per cent from 2004 to 2007 and the 91-day Treasury bill rate fell steadily from 15 per cent in 2004 to five per cent by 2009. But the banks herded into the stock market and some financial institutions started booking huge loans just to buy their own shares. Just when the consolidation exercise seemed to be working wonders, the global economic and financial meltdown and the stock market contraction of 2008 hit the banks hard, and it became widely suspected that the CBN under Soludo was not saying all that needed to be said about the true state of health of the Nigerian banking system; the Soludo-led CBN even opened an infamous ‘expanded discount window’ that enabled some illiquid banks easy access to CBN funds to paper up the cracks.

Lamido Sanusi’s tenure

Focusing monetary policy on the big picture The biggest challenge will be how to keep the good components of Lamido’s approach to monetary policy while overcoming weaknesses that became glaring in the last three years. The proceedings of the Monetary Policy Committee (MPC) became more transparent in the Lamido era (communiqués, accompanied with individual statements, and so on). That transparency is worth keeping. The problem with the Lamido era was that beyond the transparency, the striking features of monetary policy deliberations were their lack of depth, breadth, or intellectual rigour. Real activity crept out of the MPC deliberations, which became too narrowly focused on money flows between the CBN, banks and Government. The economy should first be about consumer spending, especially in the 170-million-strong, world’ seventh most populous economy, before it is about business spending, and then government, banks, and finally the CBN. For so many years, monetary policy deliberations have had nothing to say about supply side issues of employment, unemployment rate, wages and incomes, or the practical implications of labour market conditions for monetary policy decisions. The deliberations have also had nothing to say about the demand side issues of growth of consumer spending or investment spending, or the practical implications of households and corporate sector balance sheets for monetary policy decisions.

Teriba

President Yar’adua, with the confirmation of the Senate, named Mallam Lamido Sanusi, a highly reputed institutional risk management expert, who was then Managing Director of First Bank, as Soludo’s replacement. It wasn’t long before Sanusi uncovered the rot that the Soludo regime had been papering over, to the applause of almost everyone. The procedure adopted for the resolution of the crisis in some of the banks however, created grey areas that the courts are still trying to resolve beyond Lamido’s tenure, and Lamido’s foray into overly hawkish monetary policy activism one and a half years into his tenure seems largely responsible (sub-optimal oil price benchmarks on the fiscal side is also responsible) for the deterioration of Nigeria’s unemployment rate from about 15 per cent when he took over in 2009 to about 30 per cent when he left in 2015, although Lamido will prefer to be remembered for overseeing the improvement in the inflation record from 15 per cent when he arrived in 2009 to 7.5 per cent when he left in 2015.

Global economic and financial realities Now that President Goodluck Jonathan has, with confirmation of the Senate, named Mr. Godwin Emefiele, as Lamido’s replacement, the Emefiele regime is inheriting a strong record of exchange rate and price stability, with high real growth from the Lamido regime, but the new regime will have to worry about how to conduct monetary policy in such a way that Nigeria’s superlative growth and stability will translate to a lower rate of unemployment. Fortunately for Emefiele, the global economy and the global financial environment seem to have strongly recovered from the contractions that put the Soludo reforms to test, and commodity prices have returned to the pre- crisis summit, while global liquidity conditions have become sufficiently strong for the United States to start cutting down on its monthly asset repurchases. Even the Nigerian stock market capitalisation has reached and surpassed the pre-crisis peak of N12.5 trillion, and it is reasonable to expect that beyond the next quarter or two, Nigeria’s external reserves should resume its pre-crisis path.

Mr. Emefiele’s tenure might see a repeat of the 20042007 situations, in which growing reserves will exert pressures on the Naira to appreciate, with concomitant steady declines in the rate of inflation and interest rates. Emefiele will have to be careful not to repeat the Soludo-era errors of misinterpreting global cyclical surges in commodity prices and liquidity as indication of the success of domestic policy reforms and should not allow banks to get too exposed to commodity price and stock price ‘bubbles’. Lamido had banned margin loans in his tenure but stock market operators have been quick to call on Emefiele to lift the ban. While economic realities rarely warrant bans on risky but legitimate activities, Emefiele should seek to find the optimal size of margin lending and ways of insuring the lenders against the likelihood of an eventual cyclical contraction in the market.

Filling the yawning economic data gaps It seems the latest detailed spending and employment data available as Emefiele assumes office are for 2011.

Meaning that availability of data required to gauge the supply side or demand side vulnerabilities that monetary policy decisions must be sensitive, so, cannot be taken for granted. CBN has partnered with the National Bureau for Statistics (NBS) to ensure reasonably up-todate collection of data on consumer price index and real production data. But these do not provide enough information for growth and employment supporting monetary policy decisions. Demand- side weaknesses revealed from household or business spending data can help to gain a clearer picture of the likely future path of output, inflation, or even employment than quarterly Gross Domestic Product (GDP) figures can do. Just as supply-side weaknesses revealed from employment and productivity data are vital for validating thinking about the underlying strength and sustainability of economic growth. It is hoped that the CBN will broaden its partnership with the NBS to ensure that these yawning data gaps are filled so that MPC can be adequately informed of these key aspects of the economy before vital policy decisions are taken.

Economic policy management by non-economists as a risk factor Finally, we must not shy away from the fact that Mr. Emefiele, a dedicated banker, both by training and nearly three decades of assiduous professional practice, is being made to lead a CBN Board on which there is currently no economist, and an MPC on which only a couple of the part-time members are economists.

While one cannot question the collective wisdom of President Goodluck Jonathan and the 109-member Nigerian House of Senate in nominating and confirming the amiable gentleman for the role, one must point out that the technical expertise required for the Board of the CBN and the MPC to confront contemporary global economic and financial complexities and translate them to growth, employment, price, exchange rate and financial stability outcomes for Nigeria cannot be currently assumed to exist within the CBN. Lawyers, accountants, bankers and/or stockbrokers now populate both the Board of the CBN and the MPC. None of the current members of the Board of the CBN or the full-time members of the MPC has any track record of writing to publicly articulate any aspect of monetary policy. Indeed, none has the technical capacity to do so now. As Mr. Emefiele’s vision statement of 5 June 2014 seem to have shown, the new Governor is most likely going to waste the next couple of years trying to convince us/himself that he can learn economics on the job, that he understands what the issues are, and hopefully that he knows what actions to take. Unlike Mr. Joseph Sanusi, he has no full-time qualified economists on either the CBN board or on the MPC. These must be borne in mind as a major risk factor Nigeria might have to mitigate as Emefiele serves out his first five-year tenure. Teriba, CEO, Economic Associates, writes from Lagos and can be reached atayo.teriba@econassociates.com

BUSINESS | MONEYLINE

32

Sanctity of Truth

Monday, June 9, 2014

Tanzania starts Africa’s first interoperable mobile money low each other’s customers to send money to its own clients, meaning that Tanzanians are able to send money to a user regardless of whether they are registered on Tigo Pesa, Airtel Money or EzyPesa.

The agreement appears to be the beginning of the plan announced by GSM Association in April that nine mobile network operators, including Bharti Airtel, Etisalat Group, Millicom, MTN Group, Ooredoo Group, Orange, STC Group, Vodafone Group and Zain Group, have committed to work together to accelerate the implementation of interoperable mobile money

LAUDABLE Airtel, Zantel and Tigo take the lead Jonah Iboma

T

anzania is to begin the first interoperable mobile money service in Africa following an agreement signed by three telecoms companies operating in the country – Tigo, Airtel and Zantel- to adopt a common platform by the end of the month.

According to the agreement, the networks will al-

services across Africa and the Middle East regions.

A statement by Millicom, owner of Tigo Tanzania, reads: “With this groundbreaking agreement, the potential number of customers able to send money by mobile to each other in Tanzania, regardless of network, will increase to over sixteen million.”

President and Chief Executive Officer of Millicom, HansHolger Albrecht, said: “We are delighted to work with our counterparts to extend the mobile money universe in Tanzania. With this agreement, we can help make Tanzania

Naira falls to two-month low

T

he naira fell to its lowest level since April as the newly appointed Central Bank of Nigeria (CBN) governor Godson Emefiele said policy makers may begin cutting recordhigh interest rates for the first time in almost three years.

The naira depreciated 0.9 per cent to N164.40 per dollar last Friday, the weakest on a closing basis since April 1. The naira has fallen for the past two days, extending this year’s decline to 2.5 per cent.

While the banking watchdog intends to keep the currency stable, the main rate- Monetary Policy Rate (MPR) would be gradually reduced, Emefiele said last Thursday in his first

public speech since taking office this month. The regulator has kept the key-lending rate unchanged at a record high of 12 per cent since October 2011.

The central bank has no plans to start cutting rates until after February 2015 elections, Reuters reported Friday, citing a phone interview with Emefiele.

“The naira could come under pressure as demand for the currency declines while its supply rises,” Chris Becker and Catherine Bennett, Johannesburg-based analysts at ETM Analytics, said in an e-mailed note today.

Emefiele said at a March Senate hearing that a devaluation of the naira would be “dev-

astating” for the economy and “is not an option.” His stance may undermine the CBN’s ability to maintain the official midpoint of the naira peg at N155 per dollar at its twice-a-week foreign-currency auctions.

Nigeria’s reserves have dropped 16 per cent this year to $36.7 billion as of June 4, according to CBN data.

“Our published forecasts already show token cuts in the monetary policy rate of 50 basis points both this year and next,” Gregory Kronsten and Bunmi Asaolu, analysts at FBN Capital Ltd., said in an e-mailed note.

“We are cautious as to the impact of such cuts on lending rates for the real economy.”

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

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

FX

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Offer 163.38

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

Spot ($/N)

Bid 163.4000

Payment standard: Mainstreet Bank bags certificate

I

n recognition of the security of its network, applications, hardware and business processes, Mainstreet Bank Limited has been awarded Payment Card Industry Data Security Standard certification (PCIDSS).

The PCI DSS is a set of requirements designed to ensure companies that process, store or transmit credit/debit card information, maintain a secure environment to manage the fast evolving Payment Card Industry (PCI) security standards.

PCI DSS is administered and managed by the PCI Security Standards Council, an independent body that was created by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB).

A statement made available to New Telegraph, said Mainstreet Bank has by this recognition earned the level 1 PCI certification, which is the highest rank available from the major credit card providers (Visa, MasterCard, American Express, Discover and JCB). Level 1 PCI certification is only given to thirdparty providers who meet the Council’s stringent and audited - credit/debit card transaction security protocols to protect customers’ personal transaction data.

Level 1 requires an external audit for approval, which

T

Rate (%) 11.33 11.63

NIFEX

tunities to extend this inclusion even further,” said Anne Bouverot, Director General, GSMA. “Mobile network operators are engaging with each other, with banks, financial institutions regulators, governments and ecosystem partners, to identify and implement solutions that will successfully allow more mobile financial services to be delivered to a broader range of people across both regions, while maintaining high service quality. We are very pleased that these operators are taking the next steps in providing convenient, affordable and ubiquitous financial services to men and women across the region.”

is more rigorous than lower level compliance. “The process further attests to the security of the bank’s network, applications, hardware and business processes. The Qualified Security Assessor from Phillips Consulting, the first indigenous QSA in Nigeria performed the audit,” the statement said.

Speaking on the certification, Faith Tuedor-Matthews, Group Managing Director/ Chief Executive, Mainstreet Bank noted : “Attaining the highest level in PCIDSS is a significant milestone for the bank being a key regulatory requirement for major electronic payment providers.

PCIDSS will further boost our customers’ confidence in the safety and protection of their electronic data and e- payment services.

“Having invested enormous time and resources in technology and manpower, Mainstreet Bank is now ready to roll out several e-payment solutions to serve its customers within and outside Nigeria who desire reliable payment solutions to ease their financial needs.”

Mainstreet Bank has by this certification joined other commercial banks, switches and processors who have become PCIDSS compliant ahead of the November 30 2014 given by The Central Bank of Nigeria (CBN).

Fed Govt sells N137.8b treasury bills

Money Market Offer 11.85 11.85 11.80

a global pioneer in digital financial inclusion. Interoperability will be a catalyst for growth in the mobile money sector and is long overdue.

It’s an example to operators in other countries.”

Millicom was among nine high profile telecoms companies with operations in Africa which have agreed to work together to accelerate the implementation of interoperable mobile money services across Africa and the Middle East regions.

“We have seen the significant benefits of mobile financial inclusion in the developing world and operators recognise that, through collaboration, there are oppor-

Offer 163.5000 Source: FMDQ

he Federal Government sold N137.85 billion ($843.12 million) worth of treasury bills ranging from three-month to one-year maturities with the six month and 1-year paper fetching higher yields than at the previous auction, while returns on the three -month bill was unchanged.

The Central Bank of Nigeria (CBN) said last Friday it issued N27.85 billion in the 91day Treasury bill at 10 per cent, the same rate attracted by the paper at the previous auction last month.

The bank according to Reuters

sold N30 billion worth of the six month bill at 10.45 per cent, 44 basis points higher than 10.01 per cent the same tenor got at the last auction, while it sold N80 billion in the one year paper at 10.49 per cent against 10.12 per cent previously.

Total demand stood at N304.36 billion lower than the N520.7 billion in subscriptions at the May 21 auction.

Yields on treasury bills fell 20 basis points across the board at the secondary market last Thursday after the new CBN Governor Godwin Emefiele signaled the bank would seek to gradually reduce interest rates.

BUSINESS | STOCK WATCH 33

Sanctity of Truth

Monday, June 9, 2014

Lafarge Wapco: Consolidation stirs investors’ interest AGGRESSIVE

Share price movement of Lafarge Wapco Plc

Lafarge strategises to increase market share

2013

Chris Ugwu

M

arket sentiments for the shares of Lafarge Wapco Plc, one of the leading cement manufacturing companies in the world, has continued beat analysts’ predictions following the strategic consolidation plans of the company.

The company has continued to retain the top two spots in the building materials sub-sector of industrial goods sector quoted on the floor of the Nigeria Stock Exchange (NSE) in terms of share price.

Though Dangote Cement is leading in NSE’s both market capitalisation and share price, Lafarge is currently the second largest cement company in the world, while Dangote is rated 18th.

Financial analysts believe that with the recent announcement by the management of Lafarge that it intends to consolidate its business interests in Nigeria and South Africa into Lafarge Cement WAPCO Nigeria Plc, the cement manufacturing firm is capable of significantly improving its share of the Nigerian market and beyond.

Analysts also think the latest announcement by Lafarge was aimed at responding to its more aggressive rival, Dangote Cement, and to consolidate its position as a leading cement firm.

Coalescing Lafarge had announced plans to combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, in a deal worth $1.35 billion, and listing its Africa interests together on the Nigerian bourse.

The merger deal, which will give Lafarge’s Nigerian unit a market capitalisation of over $3 billion on the Nigerian bourse, is however, subject to shareholders’ approval in July.

Value of Lafarge WAPCO stocks has continued to soar as its share price, which closed at N105 per share at the end of trading activities in July, 2013, stood at N118.00 - an increase of N13.00 or 11 per cent year to date when the closing bell rang last Friday.

This is an evidence that bargain hunters’ appetite for the shares has remained green in spite of the profit-taking trend that had ruled the market save for the recent renewed interest of investors’ confidence.

Since share-pricing trend primarily rests on the fundamentals of the company, the company’s upwardly pricing trend is an evidence of its operational and fundamental position.

Elevation In acknowledgement of upsurge of its share price, the Exchange had last April ranked the company as a new stock to join the league of high priced

July

N105.00

Aug 31

N93.00

Sept 30

N99.00

Oct 31

N96.50

Nov 30

N100.00

Dec 31

N115.00 2014

Joehudston

stocks in the capital market.

The announcement was made following the conclusion of NSE’s review of the prices of stocks, as part of its plans to improve liquidity and deepen the market.

Head, Market Operations of NSE, Mr. Ade Ewuosho noted that in the past, to move the price of any stock upwards or downwards, the brokers needed to have a volume of 50,000 shares and above.

However he said that in September 2012, the NSE introduced a pilot programme for its new market structure with the rollout of market making, where stockbrokers could move prices of some high priced stocks with 10,000 shares.

These High Priced Stocks are securities that have traded an average of N100 or more per share in four out of the last six months period.

Justifying the inclusion of Lafarge Cement WAPCO Nigeria Plc in the high priced stocks, Head, Market Surveillance of The NSE, Mr. Abimbola Babalola, said a review of trading activities of the company in the last six months showed that the company met the criteria set by the Exchange.

“The Exchange commenced the pilot programme with nine stocks - Dangote Cement, Guinness Plc, Nestle Plc, Nigerian Breweries, SIM Capital Fund, Skye Shelter Fund, Nigerian Energy Sector Fund (NESF) and Total Plc. The Programme became permanent in 2013 and the nine initial pilot stocks remained.

“With the inclusion, the company became the 10th stock on the programme. We have observed that the prices of these high priced stocks have been rather stable with none falling below the N100 mark, which is currently the benchmark.

“Stockbrokers would be able to move the prices of Lafarge Cement WAPCO Nigeria Plc, in addition to the existing high priced stocks, with 10,000 units

with effect from April 22, 2014,” said Babalola.

Financials Lafarge turned in interesting numbers in its 2013 full year results recording 12.3 per cent y-o-y revenue growth; a reflection of fairly sustained level of construction activity in its market niche.

A review of the 2013 audited accounts of the cement producer shows that profit after tax (PAT) increased significantly from N14.712 billion in 2012 end to N28.267 billion in the review period of 2013 end; indicating an increase in of 92.2 per cent.

Similarly, profit before tax (PBT) grew from N21.264 billion to N27.714 billion, showing a growth of 30.3 per cent in the period under review.

Also, revenue appreciated by 12.3 per cent as the company declared N98.798 billion in 2013 end compared with N87.965 billion reported in the same period of 2012.

A further breakdown of the performance showed that the company recorded net assets of N93 billion, compared with N68 billion in 2012. Return on average equity stood at 35 per cent while return on average asset was 18 per cent.

Based on the results, the company proposed a 175 per cent increase in dividend payout to its shareholders during the financial year ended December

Since share-pricing trend primarily rests on the fundamentals of the company, the company’s upwardly pricing trend is an evidence of its operational and fundamental position

Jan 31

N120.00

Feb 28

N105.54

Mar 31

N109.50

Apr 30

N108.50

May 30

N112.50

June 6

N118.00

31, 2013.

The increase in the payout amounted to N3.30 per share against N1.20 kobo paid to shareholders in its 2012 audited year-end, representing an increase of 175 per cent.

The company also reported a 20 per cent increase in pre-tax profit during the 2014 first quarter results.

The company’s profit was up to N8.621 billion in the Q1 of 2014 from N7.202 billion in the same period of 2013, representing a growth of 20 per cent Post tax profit also climbed 34 per cent to N8.148 billion from N6.073 billion. Its revenue also grew from N23.238 billion to N27.033 billion, indicating a growth of 16 per cent.

Profit drivers Chairman, Lafarge Cement, Chief Olusegun Osunkeye, commenting on the results, assured stakeholders that the company would continue to deliver impressive performance.

He attributed the company's steady growth to the various initiatives deployed by the management, assuring shareholders that the company would continue to introduce innovative building material products based on opportunities offered by the market.

According to him, the impressive turnover was due to significant increase in cement dispatched due to a combination of improved run time on our older plants, the ramp up of production volume at the new plant in Ewekoro and a more stabilised supply of natural gas.

The Chairman said despite the tough operating business environment in 2013, the company has been able to sustain a steady growth in operating margin in comparison to 2012.

“This demonstrates the strength of the company in delivering value to shareholders and other stakeholders," he said.

Analyst’s opinion Following the recent an-

nouncement by the management of Lafarge that it intends to consolidate its business interests in Nigeria and South Africa into Lafarge Cement WAPCO Nigeria Plc, analysts at the FBN Capital have predicted that the combined entity would earn the company market share of around 29 per cent of Nigeria’s domestic production.

They said the latest announcement by Lafarge was aimed at responding to its more aggressive rival, Dangote Cement, and to consolidate it’s positioning as a leading cement firm.

“With the combination, the Lafarge businesses in Nigeria will have a combined market share of almost 28.7 per cent of the domestic production. As for Lafarge Africa, the combined sales and EBITDA figures for the proposed entity represent 58 per cent and 28 per cent of Dangote Cement’s corresponding figures respectively, reinforcing the fact that the latter is significantly more profitable,” the analysts noted.

They noted that recently the management of Lafarge WAPCO disclosed plans to develop two new plants – one brown field plant in Shagamu, south-west Nigeria, and one in an undisclosed location in Nigeria, each with estimated capacities of around 2.5 million metric tonnes.

“Prior to that, Lafarge SA and Holcim unveiled plans to merge to create the world’s largest cement manufacturer in a US$40bn merger deal subject to regulatory approval.

“Given the different geographic locations of the different entities, we would expect synergies to be modest, although bigger scale in terms of production capacity, market share and reach are positives.

We would expect a neutral reaction from the market given the uncertainty surrounding the potential impact of the deal on the bottom line of Lafarge WAPCO,” they said.

According to Lafarge, the new entity is to be renamed Lafarge Africa Plc, and will have a combined production capacity of around 12 million metric tonnes (mmt), consisting of Lafarge WAPCO (4.5mmt), Lafarge South Africa Holdings (4mmt), United Cement Company of Nigeria (2.5mmt), Ashaka Cement (1mmt) and Atlas Cement Company - an import operation with bagging capacity of 0.5mmt.

This compares with Dangote Cement’s 20mmt in Nigeria and around 23.3mmt if we include its South Africa (Delmas) and Senegal operations.

Also, according to Lafarge, the Nigeria and South Africa businesses had combined sales of US$1.25billion and EBITDA of US$345million in 2013.

Analysts believe the Lafarge Africa, the combined entity, will become the sixth largest company on the NSE by market capitalisation.

The transaction will be concluded through a cash consideration of US$200million and the issuance of 1.4billion Lafarge Africa shares to the Lafarge Group.

34 BUSINESS | CAPITAL MARKET REPORT

Sanctity of Truth

Monday, June 9, 2014

CONSTRUCTIVE Equities upbeat as investors expect friendly policies from new CBN governor

Chris Ugwu

I

n spite of the three-day depression last week, riding on operators’ expectations of market-friendly policies from the new Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, the Nigerian stock market remained resilient to close the week cumulatively on the green region.

Some financial experts have expressed optimism on the CBN governor’s agenda to work out strategies aimed at promoting lending to the real sector.

They advised governor to pursue and consolidate policies that would create employment and stablise the economy.

They also expected the governor to work out strategies that would stabilise the nation’s currency and streamline money market policies to ensure economic stability and growth.

According to them, if Emefiele is able to streamline money market policies, the effect on the capital market will be positive because banks constitute 70 per cent of market activities.

Bargain hunters Riding on the back of the previous week, the bullish tendencies at the Nigerian Stock Exchange (NSE) were sustained on Monday as bargain hunters taking positions on equities dominated the trading activities.

The NSE ASI and market capitalisation increased by 0.06 per cent as market sentiments remained on the green zone.

Transactions in the share prices of Forte Oil Plc and Nestle Nigeria Plc led other gainers to lift market indicators.

The key benchmark indices maintained positive to close in the green, taking supports majorly from large capitalised stock, which was particularly driven by the two companies.

Medium capitalised stocks also contributed to the outlook recorded.

Consequently, at the close of transactions on Monday, market capitalisation increased by 0.06 per cent or N9 billion from N13.694 trillion traded on Friday to N13.703 trillion on Monday.

Also, the NSE All Share Index (ASI) appreciated by 27 basis points or 0.06 per cent to 41, 501.40 index points, from 41,474.40 points recorded in the previous day. Further review of the day’s trading showed that investors bought 418.4 million shares worth N11.5 billion in 6,063.

On the sub-sectorial level, banking sub sector of the financial service sector strengthened by the activities on the shares of Access Bank and ETI, which led in volume terms with 209.6 million shares worth N3.2 billion in 2275 deals while other financial services sub sector, boosted by the shares of FBNH had 90.2 million ordinary shares worth N1.09 billion done in 1,220 deals.

Trading floor

Nigerian stocks advance on Emefiele’s resumption Negative sentiment Last Tuesday, the equity market slumped as the bears overwhelmed the bulls following profit taking by investors.

The key market parameters, the NSE All Share Index and market capitalisation fell 27 basis points each as the financial services stocks were worst hit; the NSE Banking Index dipped 1.01 per cent of its former value while the NSE Insurance Index receded by 0.19 per cent.

Investment levels dropped as value and volume of transactions fell by 56.95 per cent and 19.51 per cent respectively. However, there were positives as the NSE Oil/Gas Index continued its upward surge, rising by 6.76 per cent while the NSE Consumer Goods Index increased by 3.00 per cent.

Oil marketing company, Forte Oil, extended its advance

by N21.22 to close at N257.01 per share. Similarly, indigenous oil exploration and producing company, Seplat Petroleum, revved

by N5.95 to close at N676.95 per share, while downstream petroleum company, Total Nigeria, appreciated by N4.99 to close at N173.00 apiece. Also, building materials manufacturer, Ashaka Cement, rose by N2.40 to close at N25.99.

On the flip side, nutrition and wellness multinational, Nestle Nigeria, lost N6.99 to close at N1, 083.00 per share while food and consumer goods company, Unilever Nigeria, shed N1.39 to close at N48.61 per share. Financial services stocks -FBN Holdings and Zenith Bank, also moderated by N0.77 and N0.46 to close at N15.21 and N24.55 per share respectively.

Positive route Last Wednesday, market

sentiment turned green as the Nigerian stock market recorded upward trends as the bulls staged a comeback after the market closed on the red zone the previous day.

The NSE ASI rose by 0.55 per cent on the back of positions taken by bargain hunters on the highly capitalised stocks.

The key market parameters, the NSE All Share Index and market capitalisation had the previous day fell by 27 basis points each as financial services stocks were worst hit.

The northwards movement was driven by the activities of cement producing company, Lafarge Wapco and Ashaka Cement Plc. At the close of business, the principal market indices, the NSE ASI and the market capitalisation, gained 0.55 per cent each.

Consequently, the All-Share Index added 229.75 basis points to close at 41,627.43 as against 41,397.68 recorded last Tuesday, while the market capitalisation of equities appreciated by N76 billion or 0.55 per cent as market sentiments turned green.

Meanwhile, a turnover of 430.9 million shares worth N6.5 billion in 5,569 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 221.8 million shares worth N3.09 billion exchanged by investors in 1,608 deals.

Volume in the banking subsector was largely driven by activity in the shares of Access Bank Plc and GTB Bank Plc. Downward trend However, last Thursday, key market parameters, the NSE All Share Index and market capi-

Five most capitalized stocks@ June 6, 2014 Dangote Cement Plc

N3.9tn

Nigeria Brewery Plc

N1.3 tn

Nestle Nig Plc N882.9bn GTB Plc

N858.4bn

Zenith Bank Plc

N784.9bn

talisation, fell 0.13 per cent each as the bears resurfaced following profit taking by investors.

The downward trend was driven by the activities of oil companies, Forte Oil and Seplat.

At the close of business, the principal market indices, the NSE ASI and the market capitalisation lost 0.13 per cent each.

Consequently, the All-Share Index shed 57.34 basis points to close at 41,570.09 as against 41,627.43 recorded last Wednesday, while the market capitalisation of equities appreciated by N17 billion or 0.13 per cent as market sentiments turned red.

In the meantime, a turnover of 447.4 million shares worth N6.3 billion in 5,943 deals was recorded in the day’s trading.

As usual, the banking subsector of the financial services sector was the most active during the day (measured by turnover volume); with 199.6 million shares worth N3.6 billion exchanged by investors in 1,617 deals.

Volume in the banking subsector was largely driven by activity in the shares of Zenith Bank Plc and Skye Bank Plc. Also, insurance sub sector

of the financial services sector, boosted by activity in the shares of Unity Capital Insurance Plc, followed with a turnover of 133.9 million shares valued at N70.1 billion in 235 deals.

The number of gainers at the close of trading session last Monday was 31, while decliners closed equally higher at 31.

Conoil Plc led on the gainers’ table with a gain of N2.41 to close at N50.82 per share, while Guinness Nigeria Plc and CAP Plc followed with a gain of N1.00 each to close at N178.50 and N40.00 per share respectively.

On the other hand, Forte Oil Plc led on the price losers’ table, dropping at N7.00 to close at N250.00 per share, while Seplat Plc followed with a loss of N1.95 to close at N675.00 per share. Oando lost N1.34 to close at N19.00 per share.

Bearish profile Last Friday, the market sustained bearish profile as the both market performance indices dip by 0.1 per cent.

Consequently, the All-Share Index lost 40.98 basis points to close at 41,529.11 as against 41,570.09 recorded last Thursday while, the market capitalisation of equities depreciated by N14 billion or 0.1 per cent as market sentiments remained red.

Meanwhile, a turnover of 244.9 million shares worth N2.8 billion in 4,737 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 79.3 million shares worth N1.06 billion exchanged by investors in 1,319 deals.

Volume in the banking subsector was largely driven by activity in the shares of UBA Plc and GTB Bank Plc.

Sanctity of Truth

Monday, June 9, 2014

TECHNOLOGY African insurers strategise to deploy technology in agriculture insurance Sunday Ojeme

L

ast week, insurance operators across Africa gathered in Kigali, Rwanda for the 41st annual African Insurance Organisation conference to explore more areas to up the status of the industry within the continent as well as fashion strategies to ensure that risks overwhelming rural dwellers are appropriately taken care of.

After the three-day event that attracted not less than 600 delegates across Africa and the rest of the world, it was unanimously resolved that more should be done in the area of agriculture insurance in order to boost food security in the country, and also enhance micro-insurance mechanism so as to reach the rural dwellers and also move speedily to the informal sector.

The operators were reminded that the time had come to adopt the use of technology in crop insurance by using satellite image with a view to reducing the processes in claims management and settlement.

The conference reflected in its communiqué that in order to harness the huge potential of its largely untapped informal economic sector and to draw from the success of pivotal efforts of M-PESA in mobile money operation, the African insurance industry should leverage on technology especially telecom-

Insurance

BUSINESS | INSURANCE

35

AIO 2014 secures commitment to rural penetration munications and the mobile telephony in promoting financial inclusion among rural populace, thereby making its products and services accessible and affordable thereby breaking the cycle of poverty in the continent.

It emphasised the need for the operators to partner with agencies such as local banks, micro finance institutions, agricultural processors and buyers, non-governmental organisations, government institutions working together and harmonizing the efforts with the view to provide the most needed finance to support agricultural development in Africa.

While not losing sight of the huge potential in information technology as a tool for insurance market, the communiqué underscored the need for effective regulation and coordination among the various stakeholders which include telecommunication, banking and insurance industry regulators.

The Rwanda conference is coming on the heels of the previous one held last year in Egypt where the industry potential and challenges were deeply dwelt on.

In her review of the meeting, Rania El Monayery observed that though existing challenges delayed the African insurance sector development, their resources and wealth remained one of the most important catalysts for developed markets.

L-R: Minister of Finance and Economic Planning, Rwanda, Ambassador Claver Gatete; outgone President of African Insurance Organisation (AIO), Raouf Kotb; President of Rwanda, Paul Kagame; the newly appointed President of the Organisation, Jean Baptiste Ntukamazina; Secretary General of AIO, Ms. Prisca Soares and members of the executive committee of the organisation after the closing ceremony of the Conference in Kigali, Rwanda.

She recalled that the insurance sector's activity in the African continent reached $66 billion, representing the total premiums paid by the end of 2012, an increase from $63 billion in 2010, compared with $68 billion in 2011.

She said the sector represents 4.5 per cent of the African continent's Gross Domestic Product, which is a high percentage compared to the international rates, due to higher insurance rates on major projects, especially in the oil and gas in like Nigeria

and sectors in South Africa, considered as one of the most advanced countries.

She said, “The African insurance sector is considered as one of the most promising sectors in the future due to the continent's wealth and promising opportunities for investment in infrastructure and huge investment projects.

“The African market is facing many challenges and obstacles, including the need for international expertise in addition to the African reinsurance industry's lack of

experience, which emphasizes the need to search for partnerships in the reinsurance field and to pay attention to cross border markets.

“The African market is also one of the emerging markets that need to offer new products to commensurate with the circumstances and the financial capabilities of their clients. They therefore need reinsurance experience through training and the use of insurance and investment experts through signed contracts.”

Traditional ruler tackles insurers over stale products

T Outgone President of African Insurance Organisation (AIO), Raouf Kotb, investing the new President, Jean Baptiste Ntukamazina at the event in Kigali, Rwanda

Takaful Insurance of Africa showcases unique products

T

akaful Insurance of Africa Limited (TIA) hosted a Business Breakfast Meeting where it declared surplus for the second year running.

It declared a Surplus of Ksh 11 million to be given to its eligible Policy holders while reserving 42 million of the Surplus Profit in the Risk Fund.

The Surplus announcement for the second year was testament to the impact of the shariabased insurance model, which emphasizes ethical practices

and sharing of surplus with its eligible surplus holders. The Business meeting provided an opportunity for Takaful Insurance of Africa to showcase and further emphasize the unique selling propositions of the very products that have propelled the growth of the company.

Takaful Insurance of Africa (TIA) CEO Hassan Bashir showcased some of the products, among them Family Takaful, Takaful Retirements Benefits Scheme (Pension), Medical

Takaful and the unique Index Based Livestock Cover, which is an innovative product that insures pastoralists against loss of forage and livestock. This product was launched in partnership with the International Livestock Research Institute (ILRI). The uptake of the product is steadily growing with beneficiaries registering positive feedback "The cover has improved my welfare and that of my family by providing a safety net for me and my family."

he Alake of Egbaland, Oba Adedotun Aremu Gbadebo, has called on insurance operators to create a thinking environment for initiation of creative products that will meet the changing insurance consumers’ needs.

He gave the advice at the 2014 Chief Executive Officers’ retreat of the Nigerian Council of Registered Insurance Brokers (NCRIB) held in Abeokuta, Ogun State.

The royal father also urged professionals in all fields of endeavours to create time regularly to retreat to enhance their efficiency and promote their work life balance.

Oba Gbadebo noted that professionals needed to always create ample time to rest and reflect, to effectively evaluate decisions and actions taken by them with a view to projecting more positively into the future.

The Alake observed that insurance brokers were the connecting link between the insurance providers and the customers, stressing that the anticipated success of the insurance industry depended greatly on them and that they must live

up to the challenge.

The royal father commended the NCRIB for holding the retreat in Ogun State and implored members of the public to always utilize the services of insurance brokers in order to maximize their insurances.

President of the Council, Ayodapo Shoderu, said the NCRIB retreat was a yearly forum for interaction amongst insurance broking top notchers in order to enhance their productivity and bolster the value of insurance broking in the insurance value chain.

Shoderu disclosed that the Council has continued to extend the frontiers of its international relationship with insurance professional bodies all over the world, noting that the initiative has recently earned the Council an affiliate status of the British Insurance Brokers Association (BIBA).

In a paper delivered on “Winning Corporate Bids” by Mrs Moji Odanye-Odusoga, apprised insurance brokers with details and technicalities of packaging corporate bids, and urged them to always be diligent and meticulous in prospecting for corporate businesses.

36 BUSINESS | INSURANCE PROJECTION The local underwriting sector is set to grow bigger with more players getting involved Sunday Ojeme

T

he renewed interest by foreign investors in Nigeria’s underwriting sector has been described as a sign of positive growth and a confirmation that the industry was moving in the right direction.

Making this declaration at the just concluded African Insurance Organisation meeting in Kigali, Rwanda, the Managing Director of Custodian and Allied Insurance Plc, Mr. Wole Oshin, said the existence of the foreign players could not be ignored, adding that local operators should, however, reposition their businesses to remain relevant in the insurance market

Sanctity of Truth

Monday, June 9, 2014

‘Foreign investors’ influx signals positive outlook for insurance’ both locally and globally.

He said the industry must have sufficient local champions while the operators remain circumspect like the banking sector, which foresaw it and were able to remain strong despite the influx of foreign investors at the peak of consolidation.

It will be recalled that a minimum of 10 foreign interests from the United Kingdom, Switzerland and other parts of the world have gone into partnership with local insurance firms to carry out underwriting business.

Details of the partnership show that apart from Metropolitan Life of South Africa that owns 50 per cent equity in UBA Life, UK-based Old Mutual also

boasts of 80 per cent stake in the life arm of Oceanic Insurance while another subsidiary of Old Mutual took equally took 80 per cent share in the general arm of Oceanic Insurance.

Further breakdown also revealed that companies from Germany and other European countries have taken up 80 per cent stake in former Guaranty Trust Assurance that has been renamed Mansard. Not left out in the scramble for the booming local insurance market is a company from Ivory Coast that has taken 95 per cent equity holding in ADIC and subsequently changed the name to NISA. In the league are also Salam and another operator that took

up 50 per cent shares each from FBN Insurance, which was changed to FBN Life and Prestige Assurance respectively.

Oshin, who advised local operators to look inwards in order to reposition themselves for the future, said he was optimistic that the market would get stronger and bigger in the next five years, stressing that it would be further consolidated and also have a voice in Nigeria’s financial industry.

Speaking on the next move by his company, he said Custodian and Allied would be investing in micro insurance business to deepen penetration.

He pointed out that the perceived challenges in that unit of insurance also providing big

opportunity for the operators to make their contributions to the grassroots.

While describing micro insurance as a channel of giving back to the society, he said in the last decade Custodian had operated only as a corporate top edge insurance company, adding that playing in the micro segment of insurance would give them the opportunity to relate to the insuring public in the grassroots.

He said the primary intention of the company was not to make profit from the investment but a willingness to deploy capital so that insurance could spread to a segment of the market that had lacked it for long.

CIIN confab: Insurance’s impact on economy tops agenda

T

L-R: Deputy President, Nigerian Council of Registered Insurance Brokers (NCRIB), Kayode Okunoren; Alake of Egbaland, Oba Adedotun Aremu Gbadebo; President, NCRIB, Ayodapo Shoderu; and Chairman, African Insurance Brokers Association, Dr Feyisayo Soyewo; during the 2014 Chief Executives Officers Retreat of the NCRIB held in Abeokuta, Ogun State

STI appointed into Oil & Energy Pool in Africa

S

overeign Trust Insurance Plc has been appointed into the nine-member committee in charge of the African Oil and Energy Pool.

The admission was announced at the 51st Management Board and 27th Annual General Assembly of African Underwriters in Oil & Energy Insurance at the just concluded African Insurance Organisation (AIO) Conference in Kigali, Rwanda.

Henceforth, the underwriting firm alongside two other insurance companies in the country and some African Insurance Companies, namely, Misr Insurance Company from Egypt, Chanas Assurances S.A, Cameroun, Compagnie Centrale De Reassurance, Algeria, Zeb Re, Kenya, Tunis Re, Tunisia and Cica Re, Togo will administer the Oil and Energy Pool from 2014-2016.

The AOEP was created in the 1980s by the African Insurance Organisation to meet the growing challenges posed by the prominent energy sector..

The pool is a group of insurers that write business among each other and members cede

business to the pool and receive business from the pool.

Non-members may also cede business to the pool.

Common pool perils include Nuclear, Earthquake, Flood, Decennial Liability, Energy, Aviation, Liability etc.

According to the mandate, all Pool members writing oil and energy insurance business shall cede a proportion of their business up to the Pool’s capacity at terms accorded to most favoured reinsurers.

The entire business received by the Pool shall be offered on original terms and conditions to members subject to necessary reinsurance protection.

Its objectives include creating capacity within Africa with a view to reducing foreign exchange outflow, providing adequate insurance cover to match the rapid technological advancement of individual African countries and creating the manpower capacity and acquire technical expertise in the insurance of oil and gas related risks.

Other are disseminating

technical information to members of the Pool on issues affecting oil and energy insurance risk and giving technical support and advice to insurance companies operating in Africa on matters relating to risk management and insurance of oil and energy related risks.

Membership is open to African Insurance/Reinsurance companies that are members of African Insurance Organisation.

Commenting on the appointment, the Managing Director, STI, Mr. Wale Onaolapo, said it was in recognition of the company’s expertise over the years in underwriting of oil and gas risks which further reaffirms the company’s overwhelming capacity in this very critical sector of the country’s economy and the African continent at large.

He noted that the underwriting firm will not relent in providing world-class insurance services in the Oil and Energy sector and other allied areas to further consolidate its leadership position in that regard.

he International Education Conference of the Chartered Insurance Institute of Nigeria (CIIN) is expected to provide another opportunity for insurance practitioners to explore how they can improve their contributions to the economy.

The annual confab with the theme, “Re-dimensioning the Insurance Industry Contributions to the National Economy,” will once again bring together top echelon practitioners and key operatives who hold the reins in their respective organisations.

A statement by its Director/ Head Corporate Affairs, Joseph Obah, quoted the CIIN President, Fatai Lawal, as saying that the conference theme could not be more apt, stating that the conference seeks to provoke the thoughts of participants who are key practitioners in the sector to the buoying effects of the rebasing of the economy which would, among others, show the real contribution of the insurance sector

to the nation’s GDP that currently stands at 0.6 per cent.

He noted that this low contribution to national productivity has always been in tandem with the low insurance penetration index in the country which operators now have ample opportunities of reversing.

Chief Executive Officer, Economics Associates Nigeria, DR. Ayo Teriba, and Vice Chancellor, Joseph Ayo Babalola University, Osun State Prof.Sola Fajana will lead other eminent speakers at the Conference.

CIIN’S Director-General, Kola Ahmed, noted that that the Conference will provide other opportunities by virtue of its sub-theme titled: “Paradigm Shifts in Insurance Education for Greater Relevance” which will be addressed by PROF. Fajana, adding that the papers will thereafter be discussed by a panel of eminent Speakers in a Roundtable Session which will be moderated by Sir Ogala Osoka, Chairman, Enterprise Bank Limited.

NAICOM approves six more accounts

T

he National Insurance Commission (NAICOM) has approved six insurance companies’ 2013 accounts out of the 20 it has received. This is coming few weeks to the deadline for the submission of all the operators’ accounts.

This was disclosed in a circular entitled: Submission Status of 2013 Financial Statement of Insurance Companies as at Friday, May 30, 2014.

The approved accounts are those of Mansard Insurance Plc; Custodian General Insurance Limited; Custodian Life Assurance Limited; Cornerstone Insurance Plc; Zenith Life Insurance Limited and NSIA Insurance Limited.

The commission noted that the accounts submitted by FBN Life Assurance Limited;

Wapic Insurances Plc; UBA Metropolian Life Insurance.

Limited; Wapic Life Assurances; Regency Alliance Insurance Plc; Law Union and Rock Insurance Plc; Zenith Insurance Company Limited; AIICO Insurance Plc; Oasis Insurance Plc and Continental Reinsurance were queried and it is awaiting their responses.

NAICOM said those of Lasaco Assurance Plc; Niger Insurance Plc; Linkage Assurance Plc and Leadway Assurance Limited are being reviewed.

The development has raised concern for industry watchers, as they believe the operators should have improved with the experience they acquired in securing approval for their 2012 accounts.

BUSINESS | FINANCIAL MARKET NEWS 37

Sanctity of Truth

Monday, June 9, 2014

FMDQ Daily Quotations List

6-Jun-14

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

Bonds

Price

FGN Bonds Issuer

Rating/Agency

NA

NA

Description 9.20 29-JUN-2014 9.25 28-SEP-2014 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

9.20 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

45.00 100.00 535.00 470.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 110.00 75.00 150.00 200.00 591.57

TOTAL OUTSTANDING VALUE Rating/Agency

Bid Price

Offer Price

0.06 0.31 0.88 2.20 2.89 3.14 3.24 3.98 5.06 5.38 7.64 9.77 14.48 14.96 15.46 16.13

9.71 10.74 11.18 11.44 11.54 11.51 11.52 11.59 11.78 11.77 12.29 12.30 12.75 12.81 12.86 12.99

7.41 10.24 10.54 11.37 11.48 11.39 11.40 11.50 11.70 11.69 12.24 12.25 12.71 12.76 12.80 12.93

99.94 99.50 94.13 103.00 108.50 95.70 94.25 97.21 115.75 81.35 119.90 110.60 114.66 97.91 71.03 80.00

100.09 99.65 94.63 103.15 108.65 96.00 94.55 97.51 116.05 81.65 120.20 110.90 114.96 98.21 71.33 80.30

Maturity Date

TTM (Yrs)

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

4,334.84 Issuer

Agency Bonds AMCON FMBN

NA

Bid Yield (%)

Offer Yield (%)

***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

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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

978.35 24.56 6.00 112.22 116.70 66.49

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

0.40 0.96 1.45 2.51 2.87 3.08

1.00 2.63 2.27 2.00 3.20 1.00

11.70 13.85 13.56 13.42 14.68 12.50

95.54 87.88 105.00 97.73 91.10 93.73

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

0.16 0.36 1.24 0.84 1.13 1.14 2.87 1.70 3.57 2.54 4.33 2.54 2.54 3.12 3.19 5.46 3.16 3.87 6.48 6.57 3.88 3.91

1.56 1.34 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00 1.21 1.00 1.00 1.94 2.74 2.74 1.00 1.94 1.44 1.95

11.59 11.92 15.71 14.38 15.72 14.74 17.07 12.31 13.34 13.23 12.63 12.43 12.64 12.51 12.51 13.73 14.25 14.32 13.00 13.95 13.02 13.54

100.30 100.63 96.47 99.43 98.25 101.08 84.44 102.42 101.79 101.79 104.42 104.55 117.77 104.97 107.67 102.88 101.23 101.21 102.15 104.37 114.76 114.42

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

0.34 0.53 0.57 0.72 0.79 0.88 2.32 2.39 3.32 2.13 2.09 2.26 2.26 4.30 2.37 2.45 3.57 6.44

1.00 5.21 8.71 4.88 1.00 2.63 1.00 1.34 4.52 1.88 3.48 5.20 5.06 1.00 2.29 6.11 2.16 2.76

11.51 16.20 19.72 15.97 12.13 13.81 12.39 12.74 16.05 13.25 14.84 16.58 16.44 12.63 13.69 17.52 13.71 14.75

99.93 98.66 98.56 96.04 99.91 100.48 101.14 102.98 92.33 109.25 102.28 102.91 101.97 104.40 104.20 99.29 106.28 102.01

11-Feb-18

3.69

1.00

12.56

93.16

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

1,304.32

Sub-National Bonds A/Agusto 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

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

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

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

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

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

TOTAL OUTSTANDING VALUE

572.90

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

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 15.00 37.50 1.50 15.00 5.53 20.00 0.94 8.01 3.63 1.00 35.00 3.00 0.54 4.50 2.05

TOTAL OUTSTANDING VALUE

180.17

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE Rating/Agency

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

Maturity Date

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

4.82

4.67

110.86

111.76

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.15

3.95

103.64

104.41

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

5.27

5.15

107.90

108.77

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

Corporate Eurobonds AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.87

3.24

112.00

113.07

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.97

4.42

104.62

105.66

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.21

5.94

99.19

100.21

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.16

6.71

100.25

101.49

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.58

8.14

94.42

95.82

AFREN PLC

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.17

4.52

113.40

114.63

ZENITH BANK PLC FIRST BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.44

6.24

99.23

100.03

B/S&P; B-/Fitch

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.03

6.62

104.33

105.84

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.02

5.75

102.36

103.43

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

ACCESS BANK PLC FIDELITY BANK PLC

TOTAL OUTSTANDING VALUE

3,460.00

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

FIXINGS Maturity 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14

Bid Discount (%) 9.15 8.30 9.50 8.00 9.70 9.60 9.95

Offer Discount (%) 8.90 8.05 9.25 7.75 9.45 9.35 9.70

Bid Yield (%) 9.18 8.34 9.57 8.06 9.81 9.72 10.10

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.5833 12.0313 12.8987 13.9534

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.25

Tenor

Bid ($/N)

Offer ($/N)

10.50

Spot 7D 14D 1M 2M

162.83 163.79 164.05 164.65 165.81

162.93 164.06 164.39 165.31 167.00

O/N Tenor Call

REPO

Rate (%) 10.25

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

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

16.39 14.20 15.00 12.49 8.50 10.00

600.00 110.00 75.00 150.00 200.00 591.57

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

7.64 9.77 14.48 14.96 15.46 16.13

12.29 12.30 12.75 12.81 12.86 12.99

12.24 12.25 12.71 12.76 12.80 12.93

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

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

978.35 24.56 6.00 112.22 116.70 66.49

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

0.40 0.96 1.45 2.51 2.87 3.08

1.00 2.63 2.27 2.00 3.20 1.00

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

0.16 0.36 1.24 0.84 1.13 1.14 2.87 1.70 3.57 2.54 4.33 2.54 2.54 3.12 3.19 5.46 3.16 3.87 6.48 6.57 3.88 3.91

TOTAL OUTSTANDING VALUE Rating/Agency

Description

Agency Bonds

Issue Date

38 BUSINESS | FINANCIAL MARKET NEWS 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

AMCON FMBN

NA

1,304.32

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

31, 2013. This translates to N5.94billion.

The approval came at the 1st Annual General Meeting (AGM) of FCMB Group Plc held in Lagos last Friday.

Commenting on the group’s performance, Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, praised the

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

Stories by Godson Ikoro

S

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

Shareholders approve FCMB’s N5.94bn dividend

***LCRM

FCMB eyes 20 per cent Sub-National Bonds A/Agusto KWARA return on equity and a A-/GCR NIGER cost-to-income ratio A+/Agusto KADUNA A/Agusto below 55 per cent *EBONYI Nil *BENUE 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

hareholders of FCMB Group Plc unanimously approved the payment of a cash dividend of 30 kobo per ordinary share, for the year ended December

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

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

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

board and management for improving FCMB’s profitability despite the particularly challenging operating environment for banks in 2013.

He said: ‘”The resumption of good dividend payment is proof that FCMB’s management team is successfully executing its strategy and leveraging the recent transformation into a fi-

nancial holding entity, to drive significant value creation for shareholders’’.

On his part, the National Chairman of Shareholders’ Trustees Association of Nigeria, Alhaji Mukhtar Mukhtar, expressed delight on the payment of dividend. He urged the management and board of FCMB to continue to improve

Guinness chair harps on shareholders’ education TOTAL OUTSTANDING VALUE

572.90

Corporate Bonds

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

11.50 LAFARGE WAPCO 7-OCT 2014

delivered by management of 13.50 GUARANTY TRUST 18-DEC-2014 the17.00 company .

NGC 31-DEC-2014 10.00 UPDC noted 17-AUG-2015 Savage that construc12.00 FLOURMILLS 9-DEC-2015 tive dialogue between man14.00 CHELLARAMS 06-JAN-2016 agement and its shareholders 13.00 NAHCO 29-SEP-2016 during AGMs helps investors 14.25 FSDH 25-OCT-2016 understand what the board of 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 directors is planning and how DANA 9-APR-2018 theMPR+7.00 company intends to set MPR+7.00 TOWER 9-SEP-2018 about achieving its objectives.

MPR+5.25 TOWER 9-SEP-2018 He said this form of open 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 communication also help shareMPR+5.00 II 17-FEB-2019 holders toCHELLARAMS understand better the 16.00 DANA II 1-APR-2019 performance and financial po15.25 NAHCO II 14-NOV-2020 sition of the company while at

LAFARGE WAPCO

ENLIGHTENMENT GTB NGC Need to create value *UPDC for AGMs through *FLOURMILLS *CHELLARAMS NAHCO shareholders awareness FSDH µ

UBA *C & I LEASING *DANA# *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA NAHCO

Stories by Chris Ugwu

F

120.20 110.90 114.96 98.21 71.33 80.30

Valuation Yield (%)

Indicative Price

4,334.84 Issuer

TALL ORDER TOTAL OUTSTANDING VALUE

119.90 110.60 114.66 97.91 71.03 80.00

or Annual General Meetings (AGM) to be a potent means for shaping the direction of corporate TOTAL OUTSTANDING VALUE decision-making in Nigeria, SupranationalGuinness Bond Chairman, Nigeria 10.20 IFC 11-FEB-2018 AAA/S&P IFCSavage, Plc, Mr. Babatunde TOTAL OUTSTANDING VALUE eduhas called for increased cation on the part of shareDescription Rating/Agency Issuer n a bid to become a global conholders. glomerate, Caverton Offshore Savage, who made the call reFGN Eurobonds cently at a shareholders’ workSupport Group Plc, has said 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P shop entitled ‘AGM as a Plat- that it will extend its operation BB-/Fitch; form for Value Optimisation’, to other sub -Saharan African FGN 5.13 JUL 12, 2018 BB-/S&P said this became necessary to countries.

BB-/Fitch; JUL 12, 2023 The Chief 6.38 Executive Officer make investors a strong force BB-/S&P OUTSTANDING VALUE inTOTAL helping management deliver of the company, Mr. Olabode optimal return on investment to Makanjuola, said this at the Corporate Eurobonds shareholders. company’s 5th Annual General 11.50 FEB 01, 2016 B-/S&P; B/Fitch I He noted that thereAFREN wasPLC need Meeting (AGM) where share7.50 MAY 19, 2016 GTBANK PLC I B+/Fitch education and enholders approved the payment forB+/S&P; increased 6.00 NOV 08, 2018 GTBANK PLC lightenment on the important of N418million This 7.25 dividend.

JUL 25, 2017 B+/S&P ACCESS BANK PLC role shareholders play in shap- represented N12.5 6.88 MAYkobo 09, 2018 for evB/S&P; B/Fitch FIDELITY BANK PLC 10.25 APR 08, 2019 held. ery 50 kobo ordinary share ing the return on investment B/Fitch AFREN PLC

07-Oct-11 the same time helping11.50 the board 18-Dec-09 13.50 of directors 01-Apr-10 learn more 17.00 about shareholders’ expectations and 17-Aug-10 10.00 09-Dec-10 12.00 concerns.

06-Jan-11 “This two way 14.00 dialogue 29-Sep-11 13.00 between the board and share25-Oct-13 14.25 holders must be a continuous 30-Sep-10 13.00 30-Nov-12 exercise and not just 18.00 a once in a 09-Apr-11 16.00 before year event during or just 18.00 AGM.09-Sep-11 The board must evolve a 09-Sep-11 16.00 strategy where it can feel the 22-Sep-11 14.00 pulse 18-Oct-13 of the shareholders 15.75 on the 17-Feb-12business 17.00 company’s from time 01-Apr-14 16.00 to time during the year both for14-Nov-13 15.25 mally and informally,” he said.

11.80 07-Oct-14 0.34 The apex18-Dec-14 market regulator, 13.17 0.53 Securities and Exchange Com2.00 31-Dec-14 0.57 mission (SEC) has enjoined 15.00 17-Aug-15 0.72 37.50 09-Dec-15 0.79 shareholders of quoted compa1.50 06-Jan-16 nies in Nigeria to ensure0.88 that 15.00 29-Sep-16 2.32 they always25-Oct-16 comply with2.39 pro5.53 visions of code of conducts 20.00 30-Sep-17 3.32for 0.94 30-Nov-17 2.13 shareholders association issued 8.01the commission.

09-Apr-18 2.09 by 3.63 09-Sep-18 2.26 The Director General, SEC 1.00 09-Sep-18 2.26 Ms. Otteh said some 35.00 Aruma22-Sep-18 4.30 shareholders’ associations 3.00 18-Oct-18 2.37 0.54 17-Feb-19 2.45 give the impression of collu4.50 01-Apr-19 3.57 sion with boards of some public 2.05 14-Nov-20 6.44 companies.

180.17

Caverton to expand operations, says CEO

I

11-Feb-13

10.20

12.00

11-Feb-18

3.69

12.00

Datethe company Coupon (%)has Issue ($'mm) Maturity Date Bid Yield (%) HeIssue said a ValueMakanjuola, who told the lot of plans in terms of diver- shareholders that the company sification. started 2014 with a corporate 07-Oct-11 6.75 500.00 28-Jan-21 “We are already in Cameroon rebranding exercise, said,4.82 “We and we intend to further have now obtained reg18-Dec-09 5.13 extend 500.00 12-Jul-18 relevant 4.15 to other countries in sub-Saha- ulatory approvals to commence 01-Apr-10 6.38 12-Jul-23 5.27 ran Africa.

We are evolving to a 500.00 the construction of our mainteglobal conglomerate,” he said. 1,500.00 nance, repair and overhaul cenMakanjuola noted that the tre as well as an aviation traincompany will begin the construc- ing centre on a 40,000 square 01-Feb-11 11.50 450.00 01-Feb-16 3.87 tion of19-May-11 an aircraft maintenance, meters facility at the Murtala 7.50 500.00 19-May-16 4.97 repair08-Nov-13 and overhaul 6.00 centre as 400.00 Muhammed08-Nov-18 International Air6.21 well as25-Jul-12 an aviation training cen- 350.00 port, Lagos, both of which7.16 will 7.25 25-Jul-17 tre at Murtala Inter- 300.00 house OEMs02-May-18 (Original Equip09-May-13 Muhammed 6.88 8.58 08-Apr-12 10.25 300.00 08-Apr-19 national Airport, Lagos. ment Manufacturers).”

5.17

#

11.70 13.85 Monday, 13.56 13.42 14.68 12.50

95.54

Sanctity of Truth

87.88 June 9, 2014 105.00 97.73 91.10 93.73

customer experience at every customer interface and invest in key sectors of the economy, stressing that these will im1.56 11.59 prove profitability and100.30 ability 1.34 11.92 100.63 to pay more dividends next year.

4.44 15.71 96.47 Addressing 3.23 14.38 shareholders, 99.43 4.46 15.72 98.25 Dr. Chairman, FCMB Group, 3.48 14.74 101.08 Jonathan Long, stated that the 5.59 17.07 84.44 Group, which comprises First 1.00 12.31 102.42 City 1.79Monument 13.34 Bank Limited, 101.79 1.80 Capital 13.23 101.79 FCMB Markets Limited 1.00 12.63 104.42 and CSL Stockbrokers Limited, 1.00 12.43 104.55 ‘’has over 1.21 recovered 12.64 strongly 117.77 the1.00 past two 12.51 years and 104.97 in 2013 1.00 sufficiently 12.51 107.67 made strong prog1.94 13.73 102.88 ress’’.

He attributed this to the 2.74 14.25 101.23 implementation 2.74 14.32 of initiatives 101.21 that efficiency 1.00have improved 13.00 102.15 1.94the successful 13.95 104.37 and integration 13.02 114.76 of 1.44 Fin Bank, which has boosted 1.95 13.54 114.42 FCMB in retail banking. ‘’The intention to pay dividend signifies the desire of the 1.00 11.51 99.93 Board to reward the Group’s 5.21 16.20 98.66 shareholders for their contin8.71 19.72 98.56 ued commitment 4.88 15.97 and support’’, 96.04 12.13 99.91 he1.00 added.

2.63 13.81 100.48 The Managing Director of 1.00 12.39 101.14 FCMB Group,12.74 Mr. Peter102.98 Obase1.34 ki,4.52 noted that the Group is on 16.05 92.33 1.88 to deliver 13.25 109.25 to track on its promise 14.84 102.28 its3.48 various shareholders.

He ex5.20 16.58 102.91 plained that the Financial Hold5.06 16.44 101.97 ing1.00 Company12.63 structure 104.40 enables the2.29 Group delivers more104.20 consis13.69 6.11 and sustainably 17.52 tently . 99.29 “As we 2.16 look ahead to13.71 the future,106.28 we will 2.76 14.75 102.01 continue to enhance the contribution of the non-bank subsidiaries to the Group through deepening 1.00 12.56 93.16 of market penetration in each our business lines, investments in other growing sub-sectors of Offer Yield (%) services, Bid Price while Offer Price financial driving cross-sell and synergy realisation Prices & Yields across the Group.”

4.67 110.86 Also speaking, the 111.76 Group Managing Director/Chief 3.95 103.64 104.41 Executive of First City Monu107.90 5.15 108.77 ment Bank Limited, Mr. Ladi Balogun, pointed out that the bank delivered improved financial performance, in spite 112.00 113.07 of 3.24 the challenging regulatory 4.42 104.62 105.66 environment, due to the high 5.94 99.19 100.21 liquidity levels it maintained 6.71 100.25 101.49 and retail 8.14its growing 94.42 focus on 95.82 banking.

4.52 113.40 114.63

ZENITH BANK PLC FIRST BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.44

6.24

99.23

100.03

B/S&P; B-/Fitch

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.03

6.62

104.33

105.84

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.02

5.75

102.36

B+/Fitch; BB-/S&P

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

3,460.00

6-Jun-14103.43

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 **Treasury Bills FIXINGS Money Market Foreign Exchange (Spot & Forwards) to the FMDQ OTC PLC TermsMaturity of Use and Disclaimer Statement. Offer Discount (%) DTM Bid Discount (%) Bid Yield (%) Tenor Rate (%)

13 19-Jun-14 9.15 20 26-Jun-14 8.30 27 3-Jul-14 9.50 FGN Bonds 34 10-Jul-14 8.00 41 17-Jul-14 9.70 Issuer Description 48 24-Jul-14 9.60 Rating/Agency 55 31-Jul-14 9.95 62 7-Aug-14 9.90 9.20 29-JUN-2014 69 14-Aug-14 10.00 9.25 28-SEP-2014 76 21-Aug-14 10.00 4.00 23-APR-2015 83 28-Aug-14 10.00 13.05 16-AUG-2016 90 4-Sep-14 10.25 15.10 27-APR-2017 97 11-Sep-14 10.55 104 18-Sep-14 10.55 9.85 27-JUL-2017 111 25-Sep-14 10.55 9.35 31-AUG-2017 118 2-Oct-14 10.55 10.70 30-MAY-2018 NA NA 125 9-Oct-14 10.80 16.00 29-JUN-2019 167 20-Nov-14 10.30 7.00 23-OCT-2019 181 4-Dec-14 10.40 16.39 27-JAN-2022 216 8-Jan-15 10.50 230 22-Jan-15 10.45 14.20 14-MAR-2024 244 5-Feb-15 10.60 15.00 28-NOV-2028 258 19-Feb-15 10.65 12.49 22-MAY-2029 272 5-Mar-15 10.50 8.50 20-NOV-2029 307 9-Apr-15 10.40 10.00 23-JUL-2030 321 23-Apr-15 10.35 335 7-May-15 10.40 TOTAL OUTSTANDING VALUE *from the Amortising # bonds, the average is Risk Premium is a life combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills Description

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

NA

***LCRM

Modified Duration Buckets

TOTAL OUTSTANDING VALUE Sub-National Bonds A/Agusto 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†

8.90 8.05 9.25 7.75 9.45 9.35 Issue Date 9.70 9.65 29-Jun-07 9.75 28-Sep-07 9.75 23-Apr-10 9.75 16-Aug-13 10.00 27-Apr-12 10.30 10.30 27-Jul-07 10.30 31-Aug-07 10.30 30-May-08 10.55 29-Jun-12 10.05 23-Oct-09 10.15 27-Jan-12 10.25 10.20 14-Mar-14 10.35 28-Nov-08 10.40 22-May-09 10.25 20-Nov-09 10.15 23-Jul-10 10.10 10.15

<3 3<5 KWARA >5 NIGER Market KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI

975.67 1,126.03 14.00 KWARA 5-AUG-2014 594.91 14.00 NIGER 15-OCT-2014 2,696.61 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

Volume(Bn)

923.07 951.30 701.57 2,575.94

NIBOR

Bonds

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

(N'bn)

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

Rate (%) 10.5833 12.0313 12.8987 13.9534 Maturity Date

45.00 100.00 NITTY 535.00 Tenor 470.27 1M 452.80 2M 3M 20.00 6M 100.00 9M 300.00 12M 351.30 233.90 600.00 NIFEX 110.00 Current Price ($/N) 75.00 BID($/N) 150.00 OFFER ($/N) 200.00 591.57

29-Jun-14 28-Sep-14 23-Apr-15 Rate (%) 16-Aug-16 9.1145 27-Apr-17 10.0687 10.3054 27-Jul-17 10.9583 31-Aug-17 11.2751 30-May-18 11.6022 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 164.4000 22-May-29 164.5000 20-Nov-29 23-Jul-30

OBB

10.25

Tenor

Bid ($/N)

O/N

10.50

Spot 7D Offer14D Yield 1M (%) 2M 3M 7.41 6M 10.24 1Y

162.83 163.79 164.05 164.65 Bid Price 165.81 167.15 99.94 170.81 99.50 178.68

REPO Tenor (%)(%) TTM (Yrs) BidRate Yield Call

10.25

1M 12.19 0.06 9.71 3M 12.79 0.31 10.74 6M 13.67 0.88 11.18 10.54 2.20 11.44 11.37 NOTE: 2.89 11.54 11.48 :Benchmarks 3.14 11.51 11.39 * :Amortising Bond 3.24 11.52 11.40 µ :Convertible Bond 3.98 11.59 11.50 AMCON: Asset Management Corporation of Nigeria 5.06 11.78 11.70 FGN: Federal Government of Nigeria 5.38 Mortgage Bank 11.77of Nigeria 11.69 FMBN: Federal 7.64 12.29 12.24 IFC: International Finance Corporation LCRM: Local Management 9.77 Contractors Receivables 12.30 12.25 NAHCO:14.48 Nigerian Aviation 12.75 Handling Company 12.71 O/N: Overnight 14.96 12.81 12.76 UPDC: UAC Property Development Company 15.46 12.86 12.80 WAPCO:West Africa Portland Cement Company 16.13 12.99 12.93

Offer ($/N)

Price

162.93 164.06 164.39 Offer Price 165.31 167.00 168.82 100.09 174.45 99.65 185.76

94.13 94.63 103.00 103.15 108.50 108.65 NA :Not Applicable 95.70 96.00 # :Floating Rate Bond 94.25 94.55 ***: Deferred coupon bonds 97.21 97.51 115.75 116.05 †: Bond rating expired 81.35 81.65 119.90 120.20 110.60 110.90 NGC:114.66 Nigeria-German 114.96 Company UBA: 97.91 United Bank for Africa 98.21 71.03 71.33 80.00 80.30

4,334.84

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-2016 0.00/16.50 LCRM II 20-APR-2017 Porfolio Market Total Outstanding 0.00/16.50 LCRM III 06-JUL-2017 Value(Bn)

9.18 8.34 9.57 8.06 9.81 9.72 (%) Coupon 10.10 10.07 9.20 10.19 9.25 10.21 4.00 10.23 13.05 10.52 15.10 10.85 10.88 9.85 10.90 9.35 10.92 10.70 11.21 16.00 10.81 7.00 10.97 16.39 11.20 11.19 14.20 11.41 15.00 11.52 12.49 11.39 8.50 11.40 10.00 11.39 11.50

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00

978.35

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

6.00 112.22 116.70 Bucket66.49 Weighting

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

0.40 0.96 1.45 2.51 2.87 Implied 3.08Yield

1.00 2.63 2.27 2.00 3.20 Implied 1.00 Price Portfolio

11.70 13.85 13.56 13.42 14.68 INDEX 12.50

95.54 87.88 105.00 97.73 91.10 YTD Return 93.73 (%)

0.00 BOND INDEX 24.56 FMDQ FGN

35.83 36.93 05-Aug-09 27.24 15-Oct-09 100.00 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

#

Coupon (%)

36.18 41.76 14.00 22.06 14.00100.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50

1,304.32 0.36 0.37 17.00 0.27 6.00 1.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00

18.57 37.40 05-Aug-14 44.03 15-Oct-14 100.00 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

11.50 12.14 0.1612.87 0.3612.34 1.24 0.84 1.13 1.14 2.87 1.70 3.57 2.54 4.33 2.54

115.6661 129.9775 1.56 92.7666 1.34 114.7146 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00

1,098.59 1,100.60 11.59 1,082.20 11.92 1,089.67 15.71 14.38 15.72 14.74 17.07 12.31 13.34 13.23 12.63 12.43

9.8592 10.0600 100.30 8.2197 100.63 8.9666 96.47 99.43 98.25 101.08 84.44 102.42 101.79 101.79 104.42 104.55

Daily Summary as of 06/06/2014

Printed 06/06/2014 16:41:42.042

Sanctity of Truth

Monday, June 9, 2014

Daily Summary (Bonds)

Daily Summary as of 06/06/2014 Printed 06/06/2014 16:41:42.042

No Debt Trading Activity

BUSINESS | CAPITAL MARKET 39

The Nigerian Stock Market Exchange as at June 6, 2014 Daily Summary (Equities)

Daily Summary (Equities)

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

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

Activity Summary on Board EQTY Symbol OKOMUOIL PRESCO

No. of Deals 48 16 64

Current Price 33.00 37.50

Quantity Traded 497,665 227,040 724,705

Value Traded 16,511,776.60 8,425,858.60 24,937,635.20

Symbol LIVESTOCK

No. of Deals 19 19

Current Price 3.15

Quantity Traded 312,879 312,879

Value Traded 977,751.41 977,751.41

1,037,584

25,915,386.61

Quantity Traded 123,688 500 3,540 36,346,392 73,707 36,547,827

Value Traded 173,474.08 1,880.00 3,894.00 156,091,313.79 4,321,648.58 160,592,210.45

36,547,827

160,592,210.45

AGRICULTURE Totals CONGLOMERATES Diversified Industries Daily Summary as of 06/06/2014 A.G. LEVENTIS NIGERIA PLC. Printed 06/06/2014 16:41:42.042 CHELLARAMS PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

83 Symbol No. of Deals AGLEVENT 10 CHELLARAM 1 JOHNHOLT 1 TRANSCORP 338 UACN 28 Daily Summary (Equities) 378

Activity SummaryTotals on Board EQTY CONGLOMERATES CONSTRUCTION/REAL ESTATE Published by The Nigerian Stock Exchange © Building Structure/Completion/Other

Current Price 1.40 3.95 1.15 4.39 60.00

378 Symbol COSTAIN

No. of Deals 16 16

Current Price 1.23

Page Quantity Traded 620,901 620,901

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

Symbol JBERGER ROADS

No. of Deals 15 1 16

Current Price 67.50 8.46

Quantity Traded 66,913 200 67,113

Value Traded 4,520,812.70 1,694.00 4,522,506.70

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

Symbol UAC-PROP

No. of Deals 14 14

Current Price 17.86

Quantity Traded 66,050 66,050

Value Traded 1,154,850.50 1,154,850.50

Real Estate Investment Trusts (REITs) UPDC REAL ESTATE INVESTMENT TRUST Real Estate Investment Trusts (REITs) Totals

Symbol UPDCREIT

No. of Deals 3 3

Current Price 10.47

Quantity Traded 1,200 1,200

Value Traded 11,940.00 11,940.00

755,264

6,453,095.43

Quantity Traded 33,850 33,850

Value Traded 16,925.00 16,925.00

Quantity Traded 57,500 380,835

Value Traded 753,825.00 68,119,929.53

COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

CONSTRUCTION/REAL ESTATE Totals

Daily Summary as of 06/06/2014 CONSUMER GOODS Printed 06/06/2014 16:41:42.042 Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESSon NIGBoard PLC EQTY Activity Summary Published

by The Nigerian CONSUMER GOODSStock Exchange ©

49 Symbol DUNLOP

No. of Deals 5 5

Current Price 0.50

DailySymbol Summary (Equities) No. of Deals Current Price CHAMPION GUINNESS

3 33

13.11 178.50

Page

2

of

No. of Deals 28 2 89 155

Current Price 26.01 2.93 178.40

Quantity Traded 145,303 8,081 1,372,233 1,963,952

Value Traded 3,863,480.83 21,742.46 246,890,393.87 319,649,371.69

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

Symbol 7UP

No. of Deals 15 15

Current Price 90.00

Quantity Traded 42,588 42,588

Value Traded 3,837,017.65 3,837,017.65

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM UNIONDICON UTC

No. of Deals 52 62 57 47 91 8 2 13 332

Current Price 8.50 9.55 77.50 4.00 13.03 20.91 14.11 0.55

Quantity Traded 543,051 947,273 2,770,618 2,321,117 1,937,614 109,095 11,047 1,083,796 9,723,611

Value Traded 4,556,083.33 9,011,186.55 214,708,736.30 9,064,336.93 25,179,384.16 2,281,176.45 148,140.27 590,541.80 265,539,585.79

Symbol

No. of Deals 40 45 85

Current Price 79.45 1,083.00

Quantity Traded 235,150 44,489 279,639

Value Traded 18,380,365.43 48,052,108.92 66,432,474.35

DailyCADBURY Summary (Equities) NESTLE

Activity Summary on Board EQTY

CONSUMER GOODS Published by The Nigerian Stock Exchange © Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals Daily Summary as of 06/06/2014 FINANCIAL SERVICES Printed 06/06/2014 16:41:42.042 Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST Activity Summary onBANK BoardPLC. EQTY SKYE BANK PLC FINANCIAL SERVICES Banking STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL Published by The Nigerian Stock Exchange ©BANK PLC Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. GREAT NIGERIAN INSURANCE PLC LAW UNION AND ROCK INS. PLC. MANSARD INSURANCE PLC Daily Summary as of 06/06/2014 MUTUAL BENEFITS ASSURANCE PLC. Printed 06/06/2014 16:41:42.042 N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC PRESTIGE ASSURANCE CO. PLC. STANDARD TRUST ASSURANCE PLC WAPIC INSURANCE PLC Activity Summary on Board EQTY Insurance Carriers, Brokers and Services Totals FINANCIAL SERVICES Micro-Finance Banks NPFNigerian MICROFINANCE BANK PLC Published by The Stock Exchange © Micro-Finance Banks 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

Symbol VITAFOAM VONO

No. of Deals 19 1 20

Current Price 4.48 1.51

Symbol PZ UNILEVER

No. of Deals 29 27 56

Current Price 36.00 48.42

668 Symbol No. of Deals ACCESS 100 DIAMONDBNK 81 Daily ETI Summary (Equities) 112 FIDELITYBK 60 GUARANTY 283 SKYEBANK 165 Symbol STERLNBANK UBA UBN UNITYBNK WEMABANK ZENITHBANK

HEALTHCARE Totals Published by The Nigerian Stock Exchange ©

664,233,921.40

Quantity Traded 3,199,823 6,311,737 6,806,790 2,246,779 17,116,298 8,225,562

Value Traded 31,219,136.79 42,869,754.42 112,560,236.74 4,538,716.98 513,359,307.72 27,759,146.77

Current Price 2.36 7.55 10.30 0.50 0.98 25.00

Value Traded 16,977,081.83 133,475,248.94 2,285,633.43 104,933.50 3,041,484.83 173,189,293.94 4 of 12 1,061,379,975.89

Symbol No. of Deals AIICO 19 CONTINSURE 9 CORNERST 7 GNI 1 LAWUNION 8 MANSARD 10 MBENEFIT 34 NEM 20 NIGERINS 3 OASISINS 18 PRESTIGE 2 Daily Summary (Equities) STACO 8 WAPIC 83 222

Current Price 0.84 1.04 0.50 0.50 0.50 2.41 0.50 0.81 0.50 0.54 0.51 0.50 0.72

Quantity Traded 424,705 243,960 1,087,696 40,000 1,600 251,038 10,936,450 1,282,208 50,000 249,887 7,291 1,600 6,036,609 20,613,044

Value Traded 349,674.83 252,896.82 546,848.00 20,000.00 800.00 610,806.90 5,468,225.00 1,034,359.09 25,000.00 134,938.98 3,721.08 800.00 4,325,469.04 12,773,539.74 Value Traded 5 135,059.68 of 12

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 64 34 427 65 2 38 58 688

Current Price 3.23 3.36 15.36 4.17 0.52 25.00 2.50

Quantity Traded 1,258,937 675,402 7,439,308 2,362,347 200,522 1,323,850 988,194 14,248,560

Value Traded 4,062,989.17 2,307,824.25 113,602,931.48 9,535,070.53 104,261.00 32,940,425.23 2,420,514.84 164,974,016.50

114,258,880

1,239,262,591.81

2,236 No. of Deals 11 21 8 19 10 69 69

Current Price 2.68 2.90 68.00 1.68 1.20

Value Traded 374,119.95 2,617,799.38 586,443.60 835,493.90 509,100.84 4,922,957.67

1,969,062

4,922,957.67

Page

6

of

Current Price 15.99 1.97

Quantity Traded 80 500 580

Value Traded 1,216.00 940.00 2,156.00

1,216,565

743,826.85

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM

No. of Deals 133 11 32 48 32

Current Price 27.36 8.61 40.00 10.55 229.99

Quantity Traded 1,765,518 48,265 198,109 2,208,263 170,138

Value Traded 48,799,928.66 431,095.26 7,889,355.75 23,936,316.02 38,241,067.49

Symbol DNMEYER PORTPAINT WAPCO

No. of Deals 1 15 85 357

Current Price 1.11 4.74 118.00

Quantity Traded 8,000 55,345,292 484,323 60,227,908

Value Traded 9,280.00 235,465,136.00 57,178,097.20 411,950,276.38

Symbol CUTIX

No. of Deals 2 2

Current Price 2.00

Quantity Traded 2,676 Page 2,676

Symbol AVONCROWN BETAGLAS

No. of Deals 2 4 6

Current Price 1.69 16.22

Quantity Traded 9,710 18,748 28,458

Value Traded 15,633.10 299,968.00 315,601.10

60,259,042

412,271,229.48

Quantity Traded 4,750 4,750

Value Traded 35,007.50 35,007.50

4,750

35,007.50

Quantity Traded 2,522,914

Value Traded 1,261,457.00

No. of Deals 4 4

Current Price 7.75

4 No. of Deals DailySymbol Summary (Equities) JAPAULOIL

Current Price 0.50

16

Page

Value Traded 5,352.00 of 12 5,352.00

7

8

of

12

Symbol

No. of Deals 16

Current Price

Quantity Traded 2,522,914

Value Traded 1,261,457.00

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

Symbol OANDO

No. of Deals 370 370

Current Price 19.98

Quantity Traded 9,111,494 9,111,494

Value Traded 182,636,599.53 182,636,599.53

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 69 38 146 15 21 16 305

Current Price 52.00 3.47 250.01 126.00 46.35 170.00

Quantity Traded 488,561 858,457 443,897 11,225 53,797 15,471 1,871,408

Value Traded 25,375,582.08 2,898,154.94 105,731,907.48 1,425,584.10 2,281,248.04 2,634,858.02 140,347,334.66

Exploration and Production

Symbol SEPLAT

No. of Deals 18 18

Current Price 675.00

Quantity Traded 64,747 64,747

Value Traded 43,688,670.53 43,688,670.53

13,570,563

367,934,061.72

Quantity Traded 46,789 46,789

Value Traded 49,738.92 49,738.92

Page Quantity Traded 355,400 4,600 360,000

9 of 12 Value Traded 1,596,391.60 10,166.00 1,606,557.60

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Daily Summary as of 06/06/2014 Exploration and Production Totals Printed 06/06/2014 16:41:42.042 OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

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

13 13

1.08

Symbol REDSTAREX TRANSEXPR

No. of Deals 13 1 14

Current Price 4.60 2.31

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 1 1

Current Price 0.50

Quantity Traded 10,000 10,000

Value Traded 5,000.00 5,000.00

Hotels/Lodging CAPITAL HOTEL PLC IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol CAPHOTEL IKEJAHOTEL

No. of Deals 1 6 7

Current Price 4.55 0.90

Quantity Traded 100 146,298 146,398

Value Traded 433.00 129,544.28 129,977.28

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

Symbol LEARNAFRCA UPL

No. of Deals 5 16 21

Current Price 1.76 4.48

Quantity Traded 20,000 120,040 140,040

Value Traded 35,574.30 534,045.20 569,619.50

Road Transportation

Symbol ABCTRANS

No. of Deals 5 5

Current Price 0.85

Quantity Traded 39,565 39,565

Value Traded 32,066.65 32,066.65

Symbol No. of Deals INTERLINK 1 Daily Summary (Equities) 1

Current Price 4.90

Quantity Traded 54 54

Value Traded 251.64 251.64

Activity Summary on Board EQTY

SERVICES Published by The Nigerian Stock Exchange © Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Daily Summary as of 06/06/2014 ASSOCIATED BUS COMPANY PLC Printed 06/06/2014 16:41:42.042

Road Transportation Totals

Specialty INTERLINKED TECHNOLOGIES PLC Specialty Totals

Activity Summary on Board EQTY

Page

Published by The Nigerian Stock Exchange ©

SERVICES Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

EQTY Board Totals

10

of

Symbol AIRSERVICE NAHCO

No. of Deals 4 53 57

Current Price 2.31 4.80

Quantity Traded 120,000 1,281,466 1,401,466

Value Traded 279,000.00 6,195,358.03 6,474,358.03

Symbol CAVERTON

No. of Deals 35 35

Current Price 4.41

Quantity Traded 894,871 894,871

Value Traded 3,946,406.61 3,946,406.61

154

3,039,183

12,813,976.23

4,737

244,994,845

2,895,178,265.15

Quantity Traded 8,000 8,000

Value Traded 4,000.00 4,000.00

5

8,000

4,000.00

5

8,000

4,000.00

4,742

245,002,845

SERVICES Totals

Daily Summary (Equities)

12

Activity Summary on Board ASeM

135,059.68

Quantity Traded 139,759 900,589 8,626 493,646 426,442 1,969,062

No. of Deals 8 2 10

Symbol ALUMACO

OIL AND GAS Energy Equipment and Services Energy Equipment and Services Totals

OIL AND GAS Petroleum and Petroleum Products Distributors CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals

Symbol CAPOIL

No. of Deals 5 5

OIL AND GAS Totals Daily Summary as of 06/06/2014 PrintedASeM 06/06/2014 Board16:41:42.042 Totals

Current Price 0.50

Page

Published by The Nigerian Stock Exchange ©

Equity Activity Totals

11

of

12

2,895,182,265.15

Daily Summary (ETP) Exchange Traded Fund

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

Symbol NCR TRIPPLEG

Activity Summary on Board EQTY Published

by The Nigerian Stock Exchange ©

12,336,125

126,224

Value Traded 741,670.85 741,670.85

365

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

404,475.60

Quantity Traded Page 126,224

Quantity Traded 1,215,985 1,215,985

NATURAL RESOURCES Totals

Value Traded 3,773,572.69 4,580,498.63 8,354,071.32

Current Price 1.12

INDUSTRIAL GOODS Building Materials DN MEYER PLC. PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

NATURAL RESOURCES Metals ALUMINIUM MANUFACTURING COMPANY PLC Daily Summary as of 06/06/2014 Metals Totals Printed 06/06/2014 16:41:42.042

Quantity Traded 104,704 93,289 197,993

No. of Deals 7 7

Current Price 0.61

INDUSTRIAL GOODS Totals

3 of 12 Value Traded 404,331.60 144.00

Symbol NPFMCRFBK

No. of Deals 12 12

Daily Summary (Equities)

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

Page Quantity Traded 94,392 100 94,492

Quantity Traded 7,244,193 17,684,760 222,042 209,867 3,095,041 6,908,160 Page 79,271,052

Symbol COURTVILLE

22

Electronic and Electrical Products CUTIX PLC. Published by The Nigerian Exchange © Totals Electronic and Stock Electrical Products

No. of Deals 56 188 42 5 31 196 1,319

FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

Current Price 9.75 6.80 16.40 2.06 30.00 3.40

ICT Totals Daily Summary as of 06/06/2014 Printed 06/06/2014 16:41:42.042 INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC Activity Summary on Board DANGOTE CEMENT PLCEQTY

12

Symbol INTBREW JOSBREW NB

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

IT Services NCR (NIGERIA) PLC. TRIPPLE GEE AND COMPANY PLC. IT Services Totals

1Value Traded of 12 763,798.23 763,798.23

Beverages--Brewers/Distillers INTERNATIONAL BREWERIES PLC. JOS INT. BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. DICON SALT PLC. Daily SummaryUNION as of 06/06/2014 U T 16:41:42.042 C NIG. PLC. Printed 06/06/2014 Food Products Totals

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

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

12

Symbol NEWGOLD VETGRIF30

No. of Deals 1 1 2

Current Price 1,975.00 19.10

Quantity Traded 111 10 121

Value Traded 219,225.00 191.00 219,416.00

ETF Board Totals

2

121

219,416.00

ETP Activity Totals

2

121

219,416.00

40 BUSINESS | INVESTMENT OPPORTUNITIES

Sanctity of Truth

Monday, June 9, 2014

Accessing business opportunities in Int'l trade events What are international trade events (ITEs)?

ITEs are events for companies and organisations in a specific industry or across different industries to showcase and demonstrate their new products and services. The ITEs assist local and foreign enterprises to identify opportunities, customers, suppliers, and manufacturers through participation in trade missions abroad, hosting foreign business missions, organising business meetings, seminars and conferences for business interest.

What business opportunities exist in ITEs? The answer to this question is in just these three words – Travels and Tour. You can take it up as a business to organize how individuals and groups of people would attend the international trade events, taking care of all their logistics and welfare in the whole trip.

If done well, this single business is enough to take care of all your needs and much more.

You can be the organizer of the event, represent the organizers and earn commission on each participant you mobilize or attend the event to sell your own products or services.

What services does travel business provide to its clients?

Travel businesses offer a wide spectrum of services, with the intent of saving their clients time or money or both. Creating travel itineraries, mediating on behalf of a traveler if plans become disrupted, and serving as a subject matter expert on customs regulations, travel advisories,

and exchange rates are just a few examples of the services that travel businesses provide.

The clients of travel businesses typically fall into one of three categories: independent leisure, business, or group travel`.

Three ways you can run your travel business Depending on how much resources are available to you, you can start your travel business in any of the following three ways: Establishing your own travel agency  Purchasing a travel agency franchise Working as an independent contractor for another agency.

Establishing your own travel agency require that you acquire the necessary training as you get yourself familiar with the legal and regulatory issues obtainable in the country for such business enterprise. Purchasing a travel agency franchise involved doing due diligence to ensure that the issuing agency is appropriately licensed to do so.

For instance, does the issuing agency have an IATA license?

If you work as an independent travel provider, you will likely be paid on commission basis through a host agency.

Independent contractors are business owners, not employees of the host agency and depending on your contract; a host agency may require a percentage of your sales or charge a transaction fee. Some travel providers that work as independent contractors work from the host agency's office, while others work from

Ogbeide

home. So depending on your preferred entry point into the industry, a lucrative business opportunity lies before you in the travels and tours industry.

You should consult widely with the necessary agencies on the regulations obtainable in the land, as regard starting a travel and tour business.

Challenges in the business From our experience in the business, there are a few challenges in the business. For example, VISA issuance is at the sole discretion of the embassies and so they could refuse a client VISA outrightly or issue it very late. It is therefore advisable to approach the embassies for VISA early enough.

Another challenge is that the intention of participant may not be genuine as we have had cases of participants refusing to return to their home coun-

try after the events.

Other challenges include situations where participants are not allowed to display and sell their own products at the event, fluctuation in ticket price from the airline, language barriers where the language of the host country is different which result in incurring extra cost hiring an interpreter, differences in culture and business etiquettes to name a few.

Making money from international trade events There are many people who are interested in travelling for the purpose of getting more exposure, partnerships and better deals for their business.

Taking the following steps would help you get started on a good note.  Get a list of all international trade events to different countries of interest for the year.  Contact the organizers of the event and their local representative to discuss your interest in having your group participate in the event. Be professional in your discussions as you agree on terms and conditions as regards cost, logistics, VISA and commission and other relevant issues.

If you are doing business as an independent contractor, be sure to clearly understand and work within stipulated terms because the travels and tour industry is a regulated one.  Use your best strategies to meet with your target audience, let them know about the event and how it will promote their business or interest, and get the ball rolling.

Your target market in this busi-

ness Visitors who want to attend the events for networking purpose Importers who want to meet directly with manufacturers and their representatives to broker new and better deals Businessmen and women who are looking to represent the business interest of foreign companies in the country.

These events provide opportunity for them to meet.  Exhibitors who are ready to showcase what they have to the outside world. These people seek an ideal platform to launch new products and find sales agent or distributors in new markets. Investors and government ministries, departments and agencies seeking viable areas of investments for good.

Hence, if you are considering this business, the market is there for you here in Nigeria.

Who can do this business?

Everyone who has integrity, pays attention to details, and ready to work hard – even under pressure because the demands of the business is great.

So much logistics is involved and there is barely any room for lapses. From getting the terms and conditions right to getting the clients convinced, assisting them in their VISA application procedures, hotels reservations, transportation and other necessary logistics, the business is good for everyone that can take care of things to details. Hope you can? Ogbeide, who writes from Lagos, can be reached at excelogbeide@yahoo.com

GLOBAL NEWS

Pakistani president to visit Nigeria on trade cooperation TRADE Meeting to strengthen business relations between Nigeria and Pakistani to improve

P

akistani President, Mamnoon Hussain, will pay an official visit to Nigeria from today to Thursday for talks on bilateral matters, with focus on economic cooperation, officials said on Friday.

The Foreign Ministry said that it is an important visit since it would be the first presidential visit to Nigeria for three decades.

During his stay in Abuja, Nigeria’s capital, Hussain would have deliberations with Nigerian President, Goodluck Jonathan, which would be followed by delegation level talks. Senior Nigerian officials would be calling on Hussain, including state governors as well as sultan of Sokoto.

The Pakistani president would also address business forum in Abuja and Lagos. He will also announce the estab-

lishment of commercial section in Lagos, a Foreign Ministry statement said.

Several agreements are expected to be signed during the upcoming visit, including those on cooperation between Chambers of Commerce of the two countries as well as on industrial cooperation.

Trade relations between Pakistan and Nigeria have improved considerably. The total value of trade between the two countries almost doubled from 30.68 million US dollars in 20112012 to 67.36 million in 2012-2013.

The visit will also provide a good opportunity for both sides to exchange views on bilateral, regional and international matters of mutual interest, the Foreign Ministry said.

“The president’s visit to Nigeria will give a new impetus to our trade relations and provide a welcome opportunity to discuss ways and means for further strengthening of economic and trade relations,” it said.

According to Xinhua News Agency, the visit was originally scheduled for April 21-24, 2014, but was later postponed.

Job candidates at a job fair at the Matrix centre in Detroit

Canada launches world’s first wasteto-biofuels, chemicals facility

A

Canadian company has launched the world’s first full-scale municipal wasteto-biofuels and chemicals facility.

Owned by Quebec company, Enerkem, the new plant will convert trash diverted from the city’s landfill into biofuels and chemicals. The pioneering facility will have a production capacity of up to 38 million litres per year and will help the City of Edmonton increase its residential waste diversion rate

to 90 per cent, Enerkem said.

Enerkem will handle the plant’s operations. The city, meantime, will supply 100,000 tons per year of sorted municipal waste identified as no longer can be composted or recycled.

“Our breakthrough technology uses garbage instead of fossil sources for the production of chemicals and liquid transportation fuels,” Vincent Chornet, President and CEO of Enerkem, said in a statement.

“We break down the waste using heat and convert it into a gas that is as clean as natural gas. Then we convert the gas to liquid methanol, and all that happens in three minutes.”

Minister of Environment and Sustainable Resource Development, and Government House Leader for the Government of Alberta, Robin Campbell, said that the facility provides clear environmental benefits as it converts waste into value-added products.

ENTREPRENEUR

MONDAY, JUNE 9, 2014

NEW TELEGRAPH

newtelegraphonline.com/entrepreneur

BIODUN DUROJAIYE 08023015582 biodun.durojaiye@newtelegraphonline.com biodunduro@gmail.com

â&#x20AC;&#x2DC;I opened 40 businesses in 35 years' Parija Kavilanz

K

enneth Jennings, 54, has started 40 businesses in 35 years. An impressive streak -- until he admits that most of the businesses failed.

"But that's what entrepreneurship is about," he said.

"We do what others won't do so that later on we have the freedom to do what others can't do."

After 22 years of "dabbling" in his startup ideas -- everything from selling exercise equipment and office supplies to running an auto service station -- Jennings hit on his most successful one in 1995.

It was a residential locksmith service called Mr. Rekey, which he launched out of the trunk of his mom's car when he was 35. It took a decade for the business to reach its first million in sales. Today, the Austin-based firm generates annual revenue of almost $8 million, employs 100 people and is a national franchise.

"With Rekey, I finally figured it out," said Jennings. "If I'm bootstrapping a startup, I have to be prepared to not give up too soon."

That's what he did with all of his other startups.

"I'd hit a wall in six months

Kenneth Jennings

and not know how to take the business to the next level," he said. "I'd go get a job until the entrepreneurial itch struck again, and I'd fall back into the same cycle."

(Some of those other ventures included selling pizza, painting houses and installing smoke alarms.)

The pattern stopped with Mr. Rekey. Six months after starting the business, he still wasn't making money but he

didn't bail on it. He hasn't looked back since.

Jennings says he loves the "game of business."

"I like taking educated risks and seeing something grow out of it," he said.

He got a taste of this after launching his first startup at 13. It was a door-to-door seedselling venture that he pursued out of necessity.

"My dad was an alcoholic who couldn't hold a job and

drank up the family money," said Jennings. "If I wanted toys and cool clothes, and later on a car, I realized that I had to make it happen for myself."

He made $400 in the first year and $1,500 the next year.

"I couldn't keep up with demand," he said.

But that early startup experience taught him basic fundamentals about entrepreneurship.

"At 14, the important lesson I learned was that it's a lot about relationships," he said.

Over the years, Jennings has crisscrossed the country to launch his ventures, which has come at a cost to his personal life.

He uprooted his son and daughter several times during their childhood (although both now work at Mr. Rekey's corporate headquarters). He also separated from his first wife and subsequently remarried.

"Being a serial entrepreneur isn't for everybody. You have to have that itch in your blood," he said.

As he continues to grow Mr. Rekey, Jennings is also involved in five other startups that he helped launch, including a garage door installation service and a house flipping venture with his wife.

Still, life isn't all about business. Jennings works half days and took a monthlong vacation to Costa Rica last year.

So what's on his mind lately? Jennings said he's starting to think about selling Mr. Rekey.

"In a way, it would be nice to be free of it to start something else," he said.

- Culled from CNNMoney

Do you think like a successful entrepreneur? of entrepreneurs thought they had a 100 percent chance of success.

A 2013 study from Erasmus University Rotterdam found that entrepreneurs think they will live longer than everybody else.

Mark Zuckerberg, founder of Facebook

Drake Baer

R

ichard Cantillon, the eighteenth-century economist who coined the term "entrepreneur," defined the term as "bearer of risk." Yet research shows that entrepreneurs are just as risk-averse as the rest of us.

"Only when it comes to starting a business are [entrepreneurs] daring," James Suriowecki writes at the New

Yorker, and that's "because the fundamental characteristic of entrepreneurs isn't risk-seeking; it's self-confidence."

Indeed, the confidence necessary to beat the odds and sustain a new business seems to verge on delusion. The research on how entrepreneurs overestimate themselves is staggering. Here's a digest: According to a 1997 study from the University of Houston, entrepreneurs are over-

confident about their capacity to prevent bad things from happening to their business.

According to the same study, entrepreneurs are overconfident about their business's prospects.

In a 1988 Purdue University study of 3,000 entrepreneurs, more than 80 percent of participants thought that their business had at least a 70 percent chance of success.

In the same study, 33 percent

Delusion Is Necessary Nobel Prize-winning psychologist Daniel Kahneman says that the delusion is necessary, given that a third of American small businesses flame out within the first five years and two-thirds perish within 10.

"A lot of progress in the world is driven by the delusional optimism of some people," he said in an interview. "The people who open small businesses don't think, 'I'm facing these odds, but I'll take them anyway.' They think their business will certainly succeed."

A realist will have a harder

shot at success in the world, Kahneman says, since people tend to favor optimists. They rise quicker in organizations because they believe they can.

Selling the Vision They attract more funding for their enterprises by selling their vision. People will work harder for the optimistic leader because they want to be assured that it'll all be OK. Studies of meetings show that people don't listen to the most informed person in the room; they default to the loudest one.

That's why we say that these people have a "can-do spirit," Kahneman says. "Among other things, a 'can-do spirit' means you think you can do things you cannot do."

And sometimes, it's this semi-delusional thinking and a little luck that makes the seemingly impossible possible.

- Culled from DailyFinance

42 BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 9, 2014

How to become a millionaire by age 30 jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.

6. Money doesn’t sleep.

Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Money loves people that have a great work ethic.

When I was 26 years old, I was in retail and the store I worked at closed at 7 p.m.

Most times you could find me there at 11 p.m. making an extra sale. Never try to be the smartest or luckiest person -- just make sure you outwork everyone.

Grant Cardone

G

etting rich and becoming a millionaire is a taboo topic. Saying it can be done by the age of 30 seems like a fantasy.

It shouldn’t be taboo and it is possible. At the age of 21, I got out of college, broke and in debt, and by the time I was 30, I was a millionaire.

Here are the 10 steps that will guarantee you will become a millionaire by 30.

1. Follow the money.

In today’s economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a

month and nine years later it was $20,000 a month. Start following the money and it will force you to control revenue and see opportunities.

2. Don’t show off -- show up!

I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.

3. Save to invest, don’t save to save.

The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable)

invest my surpluses into ventures I cannot access.

Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either.

Money loves people that have a great work ethic accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always

4. Avoid debt that doesn’t pay you.

Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.

5. Treat money like a jealous lover.

Millions wish for financial freedom, but only those that make it a priority have millions. To get rich and stay rich you will have to make it a priority. Money is like a

These 5 decisions define you as an entrepreneur Marty Zwilling

M

ost aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. In my experience, it's a lot more complicated than that. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great leaders evolve from key leadership decisions along the way.

Fortunately, basic leadership and entrepreneurial skills can be acquired from experience and training. If you don't have the entrepreneur leadership attribute or interest, but want to be an "idea person" or inventor, then I recommend that you find a partner with the requisite skills to implement and run the business from your idea.

Yet we all know that there is a big gap between good entrepreneurs and a great business leaders. Great leaders seem to make the right pivotal decisions at every critical point along the way. I've never been able to clearly define those key points, and what separates the good from the great at these points.

So I was happy to see Julia

Tang Peters, in her new book Pivot Points, tackle this issue.

She concludes from her work with many modern business leaders, including CEOs Bud Frankel (Frankel & Company) and Glen Tullman (7wire Ventures), that there are five pivotal decisions that propel certain entrepreneurs to be gifted leaders: The launching decision.

At some point an idea captures your imagination and creating a business becomes more than just about income. You define goals that rivet your attention, galvanizing you to turn dreams into reality. The launching point establishes the platform on which every potential entrepreneur becomes an actualized entrepreneur.

The turning point decision. This is the confluence of your willful decision to do more, and the pressing need to take action. It unleashes an extraordinary verve to take the idea or business to the next level. It tests your capabilities and capacity in various ways, stretching them far beyond your comfort zone and requiring total commitment.

The tipping point decision. Here you are catapulted into leading and working on the business, as distinctly different from the work of

mastering your subject and working in the business. At this point you will have built a team whom you trust with substantive responsibilities, freeing you to hone the art of leading, inside and outside the business.

The recommitment decision. Now is the time when you as the leader look at where you are and where you want to go, knowing the need to renew the commitment or leave. For many this happens during disruptive change, like being acquired or being the acquirer.

For others, it's a personal decision to balance family life, or do something different.

The letting go decision.

The ultimate test of leadership is letting go at a time of strength so that others can carry on the work. It may be a hold'em or fold'em business situation, or simply time to plan for succession. This decision point is the most emotionally challenging, since letting go is pivotal in defining the terms of the entrepreneur's legacy.

I'm certain that an understanding of these points will equip you with the knowledge you need to take the right path on decisions when it matters most. The world is full of highachievers and high expectations, but without the proper

framework for turning entrepreneurial determination into real leadership accomplishment, you risk going nowhere.

I agree with Peters that entrepreneurial leadership is not all about people traits or characteristics, but often about the choices they make at key decision points along the way.

Of course, skills in decisionmaking are not enough alone to make a great entrepreneurial leader. Here are some of the other characteristics I look for: • Willing to listen, and will address skeptical views.

• Always an evangelist and a good communicator.

• Willing to question assumptions and adapt.

• Proactively sets metrics and track goals.

• Ties rewards to performance results.

• Aggressively takes smart risks.

So a great idea is necessary but not sufficient to make you a great entrepreneur and a great leader. Work on the right characteristics, and think hard about those five key pivotal decisions that can make or break your satisfaction and your legacy. It's more fun when you are the entrepreneur leader you want to be.

- Culled from HuffingtonPost

7. Poor makes no sense.

I have been poor, and it sucks. I have had just enough and that sucks almost as bad.

Eliminate any and all ideas that being poor is somehow OK. Bill Gates has said, "If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake."

8. Get a millionaire mentor.

Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group. I have been studying millionaires to duplicate what they did. Get your own personal millionaire mentor and study them. Most rich people are extremely generous with their knowledge and their resources.

9. Get your money to do the heavy lifting.

Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. If you don’t have surplus money you won’t make investments.

The second company I started required a $50,000 investment. That company has paid me back that $50,000 every month for the last 10 years.

My third investment was in real estate, where I started with $350,000, a large part of my net worth at the time. I still own that property today and it continues to provide me with income. Investing is the only reason to do the other steps, and your money must work for you and do your heavy lifting.

10. Shoot for $10 million, not $1 million.

The single biggest financial mistake I’ve made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.

Apply these 10 steps and they will make you rich.

Steer clear of people that suggest your financial dreams are born of greed. Avoid getrich-quick schemes, be ethical, never give up, and once you make it, be willing to help others get there too.

- Grant Cardone is an international sales expert, New York Times best-selling author, and radio show host of The Cardone Zone.

BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 9, 2014

43

10 ways to lose your first million as an entrepreneur Martin Zwilling

S

Why moms are successful entrepreneurs Nellie Akalp

F

rom 1997 to 2013, the number of woman-owned businesses increased by 59 percent (in the United States).

That’s a pace one-and-a-half times faster than the national average. Many of these businesses are run by a new breed of “mompreneurs” who are juggling the needs of the business with the needs of their family.

While much is written about the challenges of simultaneously raising a family and building a business, moms also enjoy some unique advantages when it comes to being CEO. Of course, keep in mind that the following is a generalization: not every mom will have all of these qualities and many women without children and men who are primary child raisers may share a few: 1. Moms Are Expert Multitaskers A mom can dress a screaming baby while planning out the grocery list and fielding questions from her oldest child. She can simultaneously manage schedules for the babysitter, carpool, and afterschool activities, all while remembering the school permission slip and doctor’s appointment.

You’d be surprised at how similar this is to running a company: moms are built to handle the countless daily tasks required of an entrepreneur. They can balance the multiple roles and multiple priorities with relative ease.

2. Moms Emphasize Relationships In the office, women value the strength of their relationships more than men. Connections between male colleagues tend to be based on transactions: one thing is traded for another. Yet women typically report being happier at work when they have strong connections with co-workers and build long-term relationships.

While this applies to coworkers, it can also apply to vendors, customers, contractors, and employees — the essential building blocks for a successful company. In the eyes of many female business owners, employees are crucial members of the team; they aren’t just people who work for them in exchange for a salary. In this way, women can build trusting working relationships that translate into lower employee turnover rates and higher employee satisfaction levels.

3. Moms Can Stop and Ask for Directions It may be an over-generalization, but most women know that when you’re lost, you’ll probably get to your destination a lot faster if you stop and ask someone for directions. Over the ages, new moms have gotten support and advice from prior generations and experienced moms in the community.

As entrepreneurs, women won’t shy away from asking for help. They’ll ask the “stupid questions” needed to get up to speed quickly on their industry, their customers, and all the nuances of running a business.

4. Moms Understand the Importance of Life Outside Business While mompreneurs love the businesses they’ve created, their biggest priorities will always be outside of the office. While this traditionally may have been viewed as a liability in business, it can actually be a huge asset for the entrepreneur.

Why? For starters, many moms will strike a work-life balance that’s necessary for warding off entrepreneurial burnout. In addition, having priorities outside of work can give moms a healthy perspective on running a business; it removes some of the pressure that leads to analysis paralysis. You won’t see many moms fussing over every last

detail on the website or press release; sometimes, you just need to get a task done and move on to what’s next.

5. Moms Can Network Like Nobody Else An entrepreneur’s networking ability can make or break any business, and moms have a natural urge to share their experiences with other moms.

They bond over achievements and challenges, letting other moms know what products or techniques work and which don’t. In short, moms share.

Just take a look at the rapid rise of mommy bloggers (more than 3.9 million in 2010) to understand the sheer volume of discussions taking place on social media mommy groups and forums across the Web — not to mention those offline conversations at the playground, grocery store, and pediatrician’s waiting room.

6. Moms Adapt Life for a mom is full of change and unpredictability.

You can read as many books and take as many classes as you’d like, but nothing can fully prepare you for life with a teeny-tiny newborn. Then once you’ve gotten used to the infant stage, you now have to deal with the terrible twos, tweens, and teen years. As a mom, you need to stay on your toes and never get too set in your ways — because what worked so well yesterday may not work at all tomorrow.

If any of this sounds familiar, it’s because entrepreneurs need to be just as nimble to succeed. Success in business often boils down to your ability to adapt to change: your markets, technology, customers, and competition are never constant. A good entrepreneur, just like a good mother, won’t be afraid of change.

She’ll embrace the mess and the chaos and know the key is to just keep moving forward.

- Culled from AllBusiness.com

tarting a new business is a serious undertaking. Yet many aspiring entrepreneurs I know approach it as a fun project, get-rich quick scheme, or perhaps an expensive hobby.

Others quit their day jobs and commit everything to their new passion, without regard for their own well-being, or the welfare of others around them. Neither of these approaches bodes well for success.

As an entrepreneur, you need to start early to implement the discipline and business practices that will lead to success. Even though everyone has an opinion on good early stage practices, I was impressed with the actionable blueprint in a new book by Scott Duffy, “Launch! The Critical 90 Days From Idea To Market,” focusing on the first few steps that determine long-term success.

Duffy emphasizes the often overlooked personal side of entrepreneurship, including balancing finances, relationships, and your health. I am paraphrasing here, based on his book, ten of the top failures we both see in the early stages of entrepreneurship, followed immediately by recommendations to mitigate losses from each of these items: Take the largest risk to get the biggest return. Startups always involve risk, but should not be risky. Every business move should be planned and well thought out, with milestones set in advance. Processes should be in place to ensure that even if something does not go as planned, you, your family, and even your job are secure.

Let your passion drive your cash flow projections. Moderate your optimism. That means coming up with revenue and expense assumptions that balance your natural optimism and determine how much cash the business will really need. Then take your revenue projections and cut them in half. Now take your expenses and double them.

Your idea will attract the funding you need. Assume that raising money from investors to get started will be difficult, unless you have a track record in business, or friends with deep pockets. Will key funding be your family’s entire nest egg, or just half ? Are you going to bootstrap, or borrow from personal assets?

Pretend your family doesn’t matter. Discuss the plan and the costs with your spouse or significant other. It’s essential that the two of you be in agreement on key milestones and how much to put on the line.

It is better to risk less and be on the same page than to risk more and have your spouse worried and resentful day after day.

Mix personal and business funds. Put your risk capital into a separate checking account before you start. Once you see it moved from your savings account to an account tied to risk, it becomes real. You now have a clear financial framework to help you make better decisions, and you will act more strategically, less impulsively.

Use personal credit cards for business. Keep your person-

al credit cards separate from the business. You need to do this as a way of tracking, accounting, and leveraging business payments and expenses for tax purposes.

Never commingle personal and business funds. Remember that credit card cash advances are very expensive loans.

Keep business expenses in the bottom desk drawer. Hire a bookkeeper or setup a QuickBooks chart of accounts on your first day in business. If you don’t set up a system early, you will spend tremendous amounts of time and energy going back trying to reconstruct business transactions, for you, your investors, and tax preparers.

Don’t formalise the business until you get revenue.

Have an attorney set your business up as a Corporation, by the books, before the first transaction. We live in a very litigious society, so you need to at least protect yourself from liability.

Set aside money to create a proper legal entity and get business insurance. It is not just about you.

Strive for success before thinking about your own payback. Being unprepared for success is the fastest way to lose your first million. It is important to constantly expand your understanding of how investments work, so that as your business grows and spills off cash, you are able to manage personal profits.

Hedge your bets by starting several initiatives or products. Decide to launch one business or product at a time.

The best route to success is not to spread your energy and focus on ten things, hoping one will work.

Give that one focus everything you’ve got, or you will likely not have the resources to anything well.

Obviously, avoiding all of these errors won’t guarantee success and won’t save you if you don’t have a viable offering or a viable business model. Being an entrepreneur may start with passion and an idea, but turning that idea into a great business is all about smart execution. Don’t let a million dollar idea turn into a million dollar loss, for lack of proper discipline, personal balance, and business execution.

-Culled from Forbes.com

44 BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, June 9, 2014

How one entrepreneur is building the future in Myanmar Danny Crichton

I

t can be hard for even the strongest entrepreneurs to succeed in cutthroat Silicon Valley.

But throw in simmering civil conflict, an almost non-existent Internet infrastructure, a military junta that is still in the early phases of transitioning to democratic rule, and developers more familiar with ColdFusion than Ruby on Rails, and one might reasonably think that it would be nearly impossible for any company, let alone an Internet startup, to succeed in such an environment.

For Rita Nguyen, though, this is the everyday life of building the first social network in Myanmar. Nguyen is no stranger to the region or its conflict, born in Vietnam during the war and eventually fleeing to Canada with her family after the Republic of Vietnam fell. Nguyen would eventually study at the University of British Columbia, and worked in a variety of marketing roles early in her career including Electronic Arts, where she led the community management team.

While at EA, she was approached by a leading video game executive in Vietnam, who showed her the burgeoning startup scene underway there in 2009. After spending much of her life in Canada, Nguyen decided she wanted to spend more time in the country of her birth. “I decided to spend a year away from my career, knowing that it would not be my career longterm.” She wanted to build her own company, but didn’t know exactly what that would be and decided to go exploring.

Something must have clicked, because Nguyen has been working from Southeast Asia ever since. Vietnam is a “marketer’s dream” according to Nguyen.

While Western consumer markets are saturated with messages, markets like Vietnam are much earlier in their development, and thus, a lot of products have never even been seen by the public before. This was even more the case in Myanmar, which Nguyen visited after the suggestion of a friend.

Building An Internet Startup In A Country Without It Myanmar at first didn’t seem like the kind of place to build Rita Nguyen’s startup dream, but her interactions with locals propelled her to build a business in the country. “There was so little infrastructure, ” she observed, “but there was so much passion and interest in technology, and so much of it was untapped and unfocused.” Back during the military junta, which controlled the country from 1962 to 2011, much of the Internet was blocked, particularly to websites outside of Myanmar. That meant that the only way to access the Internet was using subversive tools to get around the firewalls,

creating a generation of hackers that are now key to Myanmar’s startup hopes.

That hacker culture, though, remains quite elite. Total Internet penetration in the country hovers around 1 percent of the population, much of it concentrated in the largest city of Yangon. And while prices for mobile services have declined dramatically, they remain out of reach for most consumers in the country. Today, one of the few popular websites is Facebook, which is used less for communications (since so few friends and family are members), but more to share controversial news and discussion. Many files are still shared via Bluetooth on mobile devices. Yet, the new government has deep optimism that it can increase access levels to greater than three-quarters of the population over the next few years.

Given such a gestating market, finding a product to build was a challenge. A nationwide consumer culture does not exist in Myanmar, so there is a lack of guidelines and best practices on consumer tastes like in the West. Plus, “there were clones of everything, from Eventful to Yelp,” Nguyen notes, making it difficult to find an entry point.

In the end, the difficulty of determining what consumers wanted was precisely the sort of problem that could be solved through technology.

Nguyen ended up developing Squar, a social platform that aims to create a community around content while actively collecting data on users and sharing analytical insights with advertisers.

“There are 60 million people in the country, and no one knows anything about them,” Nguyen points out. Such a model is of course common in the West, but it broke new ground in Myanmar. She brought in two engineer friends and developed an MVP in May of last year, and a few short weeks later, Squar was in the Google Play store for Android.

Finding Investors And Profit One gauntlet facing startups in emerging markets is finding the necessary funding to continue operating. Venture capitalists in Silicon Valley often perceive startups even from Portland and Boulder to be exotic, let alone from cities like Yangon or Karachi. This reality tends to encourage a culture of bootstrapping and a focus on profitability at all times, even in more developed innovation markets like Singapore and Korea.

Nguyen’s experience fundraising is typical of other frontier entrepreneurs who perceive a real culture clash between investors attuned to emerging markets, and those who are not.

“If you talk to investors who do a lot in frontier markets, they very rarely ask how you are different from Facebook. But when you talk to people from the west,

it’s the first question. They often think in terms of comparables, but the market just isn’t ready for it yet.” Nguyen notes that she didn’t have competitors in the marketplace when she started, and that there was no need for differentiation. “It’s actually just an awareness thing” in these early days. Nguyen’s startup remains one of the few venturebacked startups in the country.

Another misperception of frontier markets is that there is little money to be made outside the developed world. While the WhatsApp acquisition may change those views, it remains likely that VCs in the West will continue to focus on the American and European markets. Yet, there is incredible profit possible for companies that target emerging consumers properly. Nguyen notes that Starbucks and Korea’s Lotteria brands are now in the country, and are packed even at prices out of reach for most inside the country.

There is of course billions of foreign direct investment flowing into the country, much of it going to utilities and other nation building priorities. There were more than $1.8 billion foreign investment projects approved just during the spring and summer of 2013. But that money is failing to connect into the local startup scene. Nguyen

is disappointed with the current state of affairs: “There are all of these kids who are passionate, and there is all of this money coming in, but it is not connecting.”

One bright spot, which might be surprising to those in the United States, is that the telecommunications companies have been in the vanguard in Myanmar, assisting with innovation and partnering with entrepreneurs to produce more apps and content. Most consumers in Myanmar have a pre-paid mobile service plan, which means that telco companies have to constantly encourage their consumers to return to refill their SIM cards.

Longer-Term Development Of course, it is still early days in the country. Nguyen says that, “no one really knows anyone there since it has been so closed. Everyone is trying to understand what is going on and what the consumer mindset is.”

She also hopes to build a pipeline of female engineers into the startup ecosystem. She says that the pipeline for female engineers is actually higher than that for males, but many women don’t go on to work in technology, but instead end up working in other roles. She is hoping to develop better outlets, and catch students shortly after graduation before they are lost in the labor market.

- Culled from TechCrunch.com

High schoolers headed to entrepreneurship challenge Deborah M. Todd

T

wo high school students who turned after-school hobbies into cash-generating businesses are gearing up for a trip to pitch their businesses to some of Silicon Valley’s top investors.

Derica Sanchez, a 16-year-old senior at Northside Urban Pathways Charter School and Kara Rohlf, a 17-year-old senior at Brownsville Area High School, on Thursday won the shot to attend the Network for Teaching Entrepreneurship National Youth Entrepreneurship Challenge after winning the George W. Tippins Business Plan Competition during the Ignite Possibilities Business Expo at the Rivers Club.

Ms. Sanchez’s handcrafted dog collar company Deri took home the $1,500 startup prize and Ms. Rohlf’s sweets company Delightful, Delicate, Dainty, Flavorful Fudge won the $1,000

top prize in the upstart division.

Three other finalists received awards ranging from $1,000 to $250.

Beyond the cash, Ms. Sanchez and Ms. Rohlf won something that could provide greater value: Months of intensive training to help them bring home the $20,000 grand prize in October, said Jerry Cozewith, president of Downtown nonprofit Entrepreneuring Youth.

"This isn’t just about putting music to your slideshow. This is

a serious pitch in front of people who are serious about how they do venture capitalism,“ said Mr. Cozewith.

Noting that the students could come up against collegeaged youth and students with big-time budgets to back their ventures, Mr. Cozewith said his group shouldn’t feel any less prepared. After all, Entrepreneuring Youth has been working for the entire school year to put this year’s winners and hundreds of other area middle and high school students on a path toward entrepreneurship.

Founded in 2009 to promote small business and financial literacy among young people in urban neighborhoods, Entrepreneuring Youth has helped 230 students build small businesses, some of which became the foundation for future careers as entrepreneurs.

-Culled from: Post-gazette.com

METRO

une 9, 2014

Praises as lawmaker renovates community laundry house

Ashafa, for resusoned community

ed that prior to the e laundry house, d to wash their n banks. was gathered, had

been swept away by surges, especially during rainy season.

It was a joyful atmosphere at the rustic community when the lawmaker inaugurated the renovated Bado-Isale Laundry House which had been abandoned for over 10 years.

Dignitaries within and outside the state witnessed the inauguration of the laundry house.

Among them were the ‎Olu Epe of Epe, Oba Shefiu Adewale, represented by the Otun Seriki of Epe Kingdom, Oloye Kadiri Odedeogboro; an All Progressives Congress (APC) chieftain, Hon Wasiu Odeyemi (Wastab), the Iyaloja-General of Epe, Alhaja Mulikatu Onibon, market women and all the community leaders in the area.

The people described the renovation of the laundry house as laudable, saying that the elected political officer holders hardly

remembered those in the remote part of the state.

The residents, who lauded the lawmaker for always coming to their aid at the time of need, said past political office holders representing the community at both federal and state level had abandoned them.

Responding, Ashafa recalled the rationale behind the renovation of the historic laundry house.

He said: “The story of why we are gathered here today is an interesting one. On February 25, 2014, one of my followers and friends on Facebook, who goes by the name of Arogundade Liafeez Adeola, notified me in a comment on my Facebook page that there was an abandoned community laundry house at Ward A4 in Bado-Isale community, Epe Local Government.

“I instructed my team to check his claims and subsequently it was verified to

phone in church, lands in cell

e

o the usher. cked when eing a thief. church told had mystearing from orded missand other

he security was always

drawn to these missing items.

They became worried as it continued, but they did not want to accuse anybody, in order not to cause bad blood. The security team of the church decided to plant the dummy phone while they watch.

“Aro was said to have picked the phone and on his way outside the premises, he was caught and handed over to the police,” a police source said.

Preliminary investigations carried by the police at Lekki, show that Aro had been to prison in the past for criminal offences, prompting his transfer to the Special Anti-Robbery Squad (SARS), Ikeja, for further investigation.

According to the suspect, he used to work with Hotel De Island in Lekki, before he quit.

He said: “I left the hotel because of a problem. It bothers on salary problem and some missing stocks. I was arrested because I picked phone in the church after

closing from the church. They said I’m a thief. The usher said a lot of things have been missing in the church. I wanted to hand it over to the usher before I was arrested.”

But police insisted that Aro was had already walked out of the church premises before he was stopped.

“It was in the church premises. I had not gone far with. I wanted to go to the gate before they caught me in the front of the church,” Aro said.

He insisted that he had never stolen anything in the church before, especially since he was a church member.

“I am a member of the church.

I don’t know the name of the church because it was not too long I was invited to that church.

I attended the church twice before I had accident and stopped.

It was one of my neighbours who invited me to the church,” the suspect said.

hers held after abducting NSCDC official

diately put a of her famon ransom.

Public RelaMuka, who at the coms in Asaba policemen a-Benin ExSouth Local at, Asaba. m was closals, they atctim down. ur suspects, onkwo (f),

James Aleato (m, aged 62), Ikechukwu Abua (m, aged 35) and Efe Ono (m, aged 33) were arrested

by Kia Motors near Summit Junction, Asaba.”

According to him, the suspects sandwiched the victim in their Jetta car, painted in the state taxi colour and were whisking her to their hideout before police pounced on them.

While he said investigation was on to make them face prosecution, Muka also said that the police recovered firearms from vicious motorcycle armed robbers, identified

as Happy Krokeme and Barrister Akara, aka Solo in Ughelli axis of the state.

According to him, one Paul Yaovyim at Kpakiama town raised the alarm that Happy and two others used unregistered Lifan motorcycle valued at N95,000 along Bomdi-Oboro Road to dispossess him of his belongings.

He said: “SARS operatives based at Ughelli swung into action and arrested the said Happy and Solo, and recovered from them one locally-made pistol and the unregistered motorcycle.”

be true. One week after, renovation commenced and in less than three weeks, the renovation was 90 per cent complete. Today, it is a success story. It may also interest you to know that the manpower deployed for the renovation was locally sourced.”

Also speaking, Chief Mogaji Edu, one of the community leaders in the area, praised the lawmaker, saying the structure was built by the Bado-Isale community in 1990 for the general public to wash their clothes instead of going to the lagoon.

Edu added that the laundry house was later abandoned owing to lack of funds to maintain it.

He said: “We all benefited from this laundry project when it was built in 1990, but because the community did not have the wherewithal to maintain it, it was abandoned over 10 years ago.

45

21

“Efforts to make the local government come to our rescue proved abortive. But today we say a big thank you.”

The representative of the Olu Epe of Epe also commended the gesture‎, saying that the renovation of the structure would bring a lot of relief to the people of Bado-Isale ‎ and its environs.

“The renovation of this historic laundry house at this time is a proactive step by the lawmaker. It will not only serve this community alone but all other communities in Epe. I will like to advise the lawmaker not to relent in his good works because this is the only way he can be visible to his constituents,” Odedeogboro said.

Responding to the community leader’s question on how the laundry house can be maintained, Ashafa promised to the laundry house is kept running for public use for the next six months.

He advised the Community Development Committee (CDC) to make a solid arrangement for the maintenance in the nearest future and advised the beneficiaries to take ownership of the project.

Abduction: JTF frees four NYSC members Joe Ezuma

Port Harcourt

T

he Joint Military Task Force (JTF), code-named ‘Operation Pulo Shield, has rescued four National Youth Service Corps (NYSC) members in Rivers State.

The corps members were kidnapped last Thursday at Abonnema, headquarters of Akuku-Toru Local Government Area of Rivers State.

Also, the JTF men, assisted by men of the state command of the Vigilante Group of Nigeria (VGN), at the weekend rescued two widows, Mrs Mary Bob and Mrs Comfort Bob, from the hands of their abductors.

This is as the men of the VGN have arrested a suspected kidnapper, Gift James, who was alleged to be involved in the abduction of the two widows and wives of the late Thompson Bob of Ihuaba community in Ahoada East Local Government Area.

The Chairman, Caretaker Committee of Akuku-Toru Local Gover nment Area, Hon Charles Benibo, who confirmed the rescue of the four NYSC members, said no ransom was paid before they were freed.

Also speaking with journalists at Ahoada town, headquarters of Ahoada-East Local Government Area, the Commandant of the VGN

in Ahoada-East, Mr Justine Ayah, said nine suspected kidnappers had on May 25, invaded the house of the late Bob in Ihuaba community about 3am and whisked away the widows.

Ayah disclosed that the kidnappers had asked the family of their victims for a N20 million ransom and added that the hoodlums only reduced the ransom to N18 million when the relatives that they could only pay N3 million.

Explaining that his men were on ground in 23 local government areas of the state, the commandant said that they were able to discover that the kidnappers were from the same community with the widows.

He said: “One of the abductors, identified as Gift James, was apprehended by men of the VGN and handed over to the State Anti-robbery Squad (SARS) in Ahoada-East, for further investigation, while

NYSC DG, Johnson Olawumi

one Grass and seven others are currently on the run.

“In the course of our investigation, we were able to know that the kidnappers are from the same community with the kidnapped widows. We were able to found out that the widows were kidnapped in Ahoada-East Local Government Area and taken to a forest in Rumuodogo II community in Emohua local Government Area of the state.

“After combing the forest for three consecutive times, we gave a call to the kidnappers, informing them that we knew them already and asked them to release the widows unconditionally and without harm.”

Ayah disclosed that the threat to the traditional ruler of Rumuodogo II community, Chief Ataya Isih, that the entire village would be set ablaze if the widows were not released, prompted the kidnappers to abandon their hostages in the forest and took to their heels.

“The matter was reported to the JTF men and their swift response made the search for the widows in the forest easy and subsequently rescued them,” he added.

When contacted, the Assistant Police Public Relations Officer, Mrs Grace Iringe-Koko, confirmed the arrest of the kidnapper and the rescue of the two widows.

46 NEWS BYE-ELECTION Passage of former speaker Adesina creates vacuum in the legislature

Sanctity of Truth

Monday, June 9, 2014

PDP tasks Ondo Assembly over vacant seat

Hon. Ebenezer Alabi, said the Assembly, which is dominated by members of the ruling Labour Party (LP) should have written INEC officially for the Babatope Okeowo conduct of a bye-election, Akure but fears imminent defeat. he Ondo State chapter The seat became vaof the Peoples Demo- cant following the demise cratic Party (PDP) has the former Speaker, Hon. tasked the House of Samuel Ajayi Adesina, in Assembly to write the Inde- February. pendent National Electoral Alabi, who spoke with Commission (INEC) over reporters shortly after the vacant seat in Odigbo receiving some members Constituency II, which be- who defected from the All came vacant four months Progressives Congress ago.

(APC) and the LP led by Chairman of the party, Benjamin Akinbobola,

T

Chief Akinbisodun Adenisinmi and Bode Akinfolure, in Ile-Oluji/OkeIgbo Local Government at the weekend, said there was nothing stopping INEC from conducting the bye-election if the Assembly had informed the body about the vacant seat.

Alabi said LP was shocked with the outcome of the inconclusive Ilaje-Ese-Odo bye-election despite the huge money devoted to the poll. According to him, the PDP has a brighter chance to dominate the Assembly after the 2015 general

elections.

The PDP chairman added that the LP is now jittery about the rising profile and the acceptability of the PDP by the people.

He attributed this to the fact that the people have seen the difference between the PDP and the present administration.

He said: “The reason is very clear; PDP ruled this state between 2003 and 2009 and the achievements of the party then was far from what we have seen today, bearing in mind the quantum of money that came then

and what is coming now.

“The fact that our administration left behind N38 billion, unfortunately, people have not seen the achievements of the incumbent government, compared to what we did then. They can now see clearly the achievements on ground, the government cannot justify the quantum of money that came to the state; people have now realised that the PDP is better.

“The chances of the party in future elections in the state are very bright and you can see what happened in the Ilaje/Ese-Odo

by-election, we were there, the governor relocated to the area for almost three weeks, he brought a lot of money, he mobilised all and despite all these, you could see that the margin was so close that INEC could not declare a winner.

“Today, there is a byelection pending in Odigbo Local Government, we are expecting the House of Assembly to have communicated this to INEC, but up till now, they have not done so, because they are afraid of the election; but we are prepared and I can assure you that our chances are bright.”

Charms: Akinbade chides Aregbesola

L

abour Party governorship candidate in the August 9, 2014 election in Osun State, Fatai Akinbade, has described the call

by Governor Rauf Aregbesola on his supporters to use charms in the coming polls as a direct invitation to violence.

While Aregbesola had at a rally in Ikire, Irewole Local Government headquarters, called on All Progressive Congress (APC) members to be armed with charms to the various polling booths in the election, a member of the House of Representatives, Hon. Rotimi Makinde, had equally made a similar call in Ile Ife, when Aregbesola was flagging off his campaign.

But Akinbade in a statement by his Director of Media, Mr. Kayode Oladeji, condemned the call, insisting that it was capable of causing mayhem during the election.

Towards this end, the former Secretary to the State Government, while imploring security agencies to be on the alert, urged the Federal Government to fortify the state with enough security so as to forestall any possible outbreak of violence.

Akinbade, who said it

was unbecoming of the governor and his party members to be unguarded in their utterances, said the call for the use of charms

by Aregbesola should not just be dismissed.

“He knows what he is saying. He means it.

Aregbesola knows he has already lost. He is only being clever by half. Imagine somebody who is preaching peace, also urging his supporters to be armed with charms to the polling booths; to do what? Or does he want to turn polling units to shrine?”

The governorship hopeful averred that Aregbesola’s position on the use of charms was aimed at creating tension geared towards scaring away genuine voters at the polls.

“Yoruba leaders should prevail on Aregbesola to stop denigrating the race through such shenanigans, because we are a decent race noted for civility and as such, we should not be fanning the embers of discord under whatever guise.”

He said politics should not be a do-or-die affair, saying; “The people should be freely allowed to choose whoever they want without being scared or coerced.”

Outrage as Nwosu, Anya downgrade Ajaokuta Steel Muhammad Bashir

Lokoja

here has been disquiet Tmade over the comments by some delegates

from the South-East at the national conference that reviving the ailing Ajaokuta Steel Company will be a waste of fund and time.

Chairman, House Committee on Steel at the National Assembly, Hon. Sadiq Muhammed, has described such comments as unfortunate and unpatriotic.

Delegates ABC Nwosu and Anya O. Anya, had last week, at the national conference said that it will be a waste of fortune to re-

vive the multi-billion naira Ajaokuta Steel Company, because steel is no longer required in the international market.

But Muhammed, who reacted at the weekend, said the statement credited to the duo in the interest of the nation, but a deliberate attempt to slight a section of the country.

Mohammed, representing Ajaokuta Federal Constituency argued that steel is still playing a major role in technological advancement and in the world economy, stressing that the blast furnace at the steel factory in Ajaokuta is what they are using in steel companies in other countries.

Rector, Federal Polytechnic, Oko, Anambra State, Prof. Godwin Onu (left); former Minister of Aviation, Mrs. Stella Oduah and others, during a reception after the foundation stone laying of Aviation School of the Polytechnic at Atani Community in Ogbaru L.G.A of Anambra State…yesterday

Ogbomoso Baptist Seminary graduates 19 with First Class Sola Adeyemo

terial developments. We keep

Ibadan our eyes on God and we are

he Nigerian Baptist TheoTOgbomoso, logical Seminary (NBTS), Oyo State, has

recorded nineteen students with First Class honours among the 201 that graduated in the various classes of its 2014 degree programmes.

At the 115th graduation service held at the weekend, 19 students bagged doctoral degrees in the various courses, 131 obtained Master degrees, while 50 obtained bachelor degrees, and one had a diploma.

The courses included Church Music, Religious Education, Theology (Special), Theology, Theology in Missiology, Divinity, Ministry, Philosophy, among others.

Speaking at the ceremony, NBTS President, Rev. (Dr) Ezekiel Nihinlola, said the seminary has established a tradition of providing excellent ministerial training since 1989.

“We have been training and equipping students to balance and integrate spirituality, academic and minis-

conscious of the society as we work with international and indeed global best practices in teaching-learning activities,” he said.

Nihinlola said the seminary understood the essence of leadership development for kingdom harvest, just as it appreciated the sensitivity of having to train lecturers and heads for other theological institutions.

The institution, according to the Secretary, International Council for Higher Education, West Africa Network, recognised the sacredness of the opportunity to train Christian leaders for other countries in the African continent, while expressing delight in having the first set of students, to acquire doctoral degrees in Musical Arts under his administration.

In his remarks, President, Nigerian Baptist Convention (NBC), Rev. (Dr.) Olasupo Ayokunle, said the convention was a corporate entity that had impacted meaningfully on religion, academics and the society in the last 100 years.

FCC summons PTI chiefs Joe Obende

Warri

rincipal officers of the Pstitute, Petroleum Training InPTI, Warri, most

of whom have been in acting capacities since 2005, have been summoned by the Federal Character Commission to Abuja to appear before it today.

They are to explain the lopsidedness in appointments in the institution.

The officers include the Principal, Mr. A. J. Orukele; the Registrar, Mrs. Angela Ewhere; the Director of Finance and Accounts, Mr. Aaron Ikimi and Head of Human Resources and Development, Alhaji A. S. K. Tanimu.

Aside five of the seven principal officers coming from a particular segment of the country, they all have been in acting capacities since 2005.

The statutes provide six months for persons to hold positions in acting capacities in federal parastatals.

In 2008, there was a mass retirement of principal officers following a probe in PTI

which confirmed then that appointments in the institution were skewed in favour of a particular section of the country.

The principal then was Dr. Ovuru from Bayelsa, with Alhaji Lamido as registrar; Dr. Abas from Kaduna State with other northerners holding other vital positions.

But Head of Public Affairs of the institution, Mr. Brown Ukanefiomoni, would not hear any of these.

To him, there is only one principal officer in acting position as the principal's appointment had been confirmed.

The DFA, he said would retire soon so his case was not relevant for mention.

Ukanefiomoni said the council of the institute was working tirelessly to ensure the confirmation of those officers in acting capacities.

He added that PTI "has complied very well in federal character."

He maintained that the present chairman of the council, Mr. George Osahon "is a very straightforward officer, who will ensure that due process is followed. His track records are there to show for this."

NEWS 47

Sanctity of Truth

Monday, June 9, 2014

Soldiers on the rampage in Ogun SHOOTING Ijebu Ode motor park sees the red eyes of soldiers over fare Kunle Olayeni

Abeokuta

T

here was pandemonium yesterday in Ijebu-Ode, Ogun State, when suspected military personnel went on the rampage, beating several people and vandalising vehicles.

The incident came on the heels of the controversial seizure of newspapers and harassment of circulation agents by Nigerian Army operatives across the country at the weekend.

New Telegraph gathered that the Ijebu-Ode

2.43m

incident occurred in the morning at the popular Lagos Garage area of the town.

Traders and motorists promptly deserted the area for fear of being attacked by the rampaging soldiers.

But when contacted, the Public Relations Officer of the 35 Field Artillery Brigade, Nigerian Army, Abeokuta, Adamu Ngulde, declined to comment on the matter.

Ngulde only said: “Pending a thorough investigation of the matter, I will maintain silence for now.”

It was learnt that some yet to be identified soldiers stormed the motor park in Ijebu-Ode and were shooting sporadically.

A transporter and top official of the National Union of Road Transport

The total population of Khartoum, Sudan in 2010.

Source: Blatantworld.com

Workers (NURTW) in the town, Rotimi Okunowo, confirmed the incident.

Okunowo said: “What happened was that one of the soldiers, who was in mufti, came to the park around 6.30am, claiming that he was a staff and would not pay the fare.

When asked to identify himself; he engaged one of the motor boys in a fracas and in a jiffy, he left the scene only to return with about 20 men with various weapons like cutlasses, guns, broken bottles and other dangerous weapons.

“They beat one boy, Ademola Dosunmu, and stabbed him before taking him away. That was not enough, they vandalised vehicles in the park and pursued passengers out of the area. The development caused a lot of chaos.

32.3m

The number of fixed-telephone subscriptions of France in 2012.

Source: Itu.int

“I was in the heat of the incident myself, my cell phone was smashed and about six vehicles’ tyres were punctured. They pursued me up to Ore Ofe Hospital and were shooting all around. This is too much.”

The NURTW chief said military operatives were fond of maltreating people, appealing to the government to put an end to such.

“The government should help us caution these people. We are appealing to the government to help us. What we gathered was that they were among those assigned to be monitoring the pipelines across the area. We can’t bear this again,” he added.

New Telegraph learnt that two fully loaded Hilux vehicles with the inscription OP MESA later arrived the scene to restore normalcy.

$216.4bn

The nominal GDP of Czech Republic (IMF) in 2009.

Source: Blatantworld.com

2014 Trade Fair will be hitch-free, Lagos assures Muritala Ayinla

agos State government yesterday reiterated its commitment to provide adequate security for visitors, exhibitors and other participants at the 2014 trade fair, Eko Expo, assuring residents of an improved economy soon.

The government, which also said it was coming up with policies to boost industrial and commercial growth, told residents that all necessary steps to beef up security have been taken.

Special Adviser to the Governor on Commerce and Industry, Mr. Oluseye Oladejo, gave this assurance while briefing journalists.

Oladejo said the government was desirous of increasing the prospects of the private sector, hence its creation of platforms to improve the business environment.

The special adviser, who noted that there were no security threats, said the government, notwithstanding, is put-

L

ting in place security measures for the thousands of guests expected to attend the fair from within and outside the country.

“We don’t have any worrisome security situation in Lagos State. There is nowhere in the world where they don’t have security issues. With all the security issues in Brazil, the 2014 World Cup has not been postponed. And in few days, that country will witness massive influx of people.

“In the previous editions, there was no serious security challenge.

I can assure you that we will beef up security in that axis of the city as any responsible government will do whenever it is expecting a huge turnout of people in an event.

“The first responsibility of the government is to ensure that there is adequate security for life and property. And we will definitely not shy away from that. In this year’s fair, there will be no problem.”

APC warns members to stay away from PDP rallies Adeolu Adeyemo

OSOGBO

he All Progressives ConTState gress (APC) in Osun at the weekend ad-

Ondo State Governor, Dr Olusegun Mimiko (left) and the Bishop of Ondo Diocese (Anglican Communion), Rev. Latunji Lasebikan, at the thanksgiving service to commemorate the funeral of the mother of the Ondo First Lady, Madam Felicia Adeniyi, at the St Stephen's Cathedral, Ondo…at the weekend

Construction workers cripple road projects in Akwa Ibom Tony Anichebe

Uyo

work on the Cnanonstruction Eket-Ibeno and Eket Etiroads in Akwa Ibom

State was paralysed at the weekend as angry workers of the China Civil Engineering Construction Company (CCECC) protested their management’s alleged refusal to allow them unionise.

Our correspondent, who was at the company’s sites at Ikot Ekpan in Nsit Ubium and Ibeno Local Government areas, saw hundreds of workers barricading the entrance of the company and carrying placards with the inscription; ‘No Union, No Work.’

The face-off between the workers and the CCEECC management started when the authorities of the firm, without any formal reason, cancelled the workers’ union election that was scheduled to hold on Friday.

The election, which was to be jointly supervised by the Nigeria Labour Congress (NLC) and the National Union of Civil Engineering, Construction, Furniture and Wood Workers (NUCECFWW), was however, cancelled despite the fact that workers had waited in the rain for hours.

NLC Chairman Akwa Ibom State, Comrade Unyime Usoro, who boycotted

the botched Friday election, told New Telegraph that he stayed away because of his suspicion that the CCECC management was trying to manipulate the exercise.

However, the angry workers, who turned up at the company’s sitesat the weekend, refused to do any work despite threats by the authorities to sack them. They said they would stay off work until the management allows them elect a union that would protect and defend their interests.

Some of the workers, who spoke with our correspondent, accused the authorities of the Chinese

firm of plotting against the existence of a workers’ union, adding that the company has operated in the state for over 10 years without a workers’ union.

vised its supporters to be careful and avoid the campaign venues of the Peoples Democratic Party (PDP) to guide against the possibility of being accused of provoking violence at the opponent’s rally.

The PDP is proposing to flag off its governorship campaign activities in preparation for the August 9, governorship election.

The APC in a statement signed by its Director of Publicity and Strategies, Kunle Oyatomi, in Osogbo, said: ‘As much as possible, our supporters should stay away from the vicinity of PDP rallies until it is all over and safe to move around freely again.’

The APC said its sup-

porters “should go the extra mile to keep the peace, and it expects that the PDP will conduct itself in a similar manner.”

The party said: “The APC warmly welcomes its chief opponent in the August 9, governorship election, the Peoples Democratic Party, to the campaign turf, but with a word of admonition.

“Please conduct yourselves and your campaign activities in a civilised fashion, devoid of violence and thuggery,” the APC told the PDP. “The APC and its governor had conducted two very peaceful and festival-like campaigns in Ile Ife and Ikire, without any violence. The party is holding another epic rally at Ila tomorrow.

This is the minimum standard of responsible conduct we also expect from the PDP,” the party said.

NOPRIN faults detention of Iwuoha, wife Steve Uzoechi

OWERRI

etwork on Police N(NOPRIN) Reforms in Nigeria has called on

the Inspector-General of Police (IGP) to intervene and probe the circumstances surrounding the recent arrest and detention of Mr. Samuelson Iwuoha, and his

wife, over allegations of murder.

According to the group, information at its disposal indicates that; “Iwuoha survived an assassination attempt at his Ikenegbu Layout residence in Owerri, after gunmen came looking for him and left after killing one.”

In a statement signed

by the National Coordinator of the group, Mr. Okechukwu Nwanguma, NOPRIN said; “We are further informed that ‘the police that were called in for investigation started indiscriminate arrest of youths in the neighbourhood, detaining them illegally.’ Mr. Iwuoha and his wife have been in detention since June 3, 2014.”

48 NEWS

POLITICS

In Imo State, it is not yet over as the Governor keeps a traditional ruler battling for relevance Steve Uzoechi OWERRI

A

ngry reactions have continued to trail the sudden dethronement of Eze Cletus Ilomuanya by Governor Rochas Okorocha following the enforcement by policemen last week, of the Appeal Court judgment sacking Eze Agunwa Ohiri, appointed by Governor Rochas Okorocha as the Chairman, Imo State Council of Traditional Rulers, and reinstating Eze Cletus Ilomuanya whose tenure as Chairman was earlier cut short by Okorocha.

The Imo State Government had in a swift reaction announced the

Sanctity of Truth

Monday, June 9, 2014

Ihedioha faults Okorocha on Ilomuanya's sack withdrawal of the Staffof-Office and Certificate of Recognition of Eze Cletus Ilomuanya but the Deputy Speaker of the Federal House of Representative, Chief Emeka Ihedioha, viewed Okorocha’s action as a ‘crude and reckless display of naked power’.

In a statement signed by the Media Assistant to the Deputy Speaker, Mr. Chibuike Onyeukwu, and made available to New Telegraph, Ihedioha noted that while he had seldom commented on Okorocha’s manner of administration, it had become increasingly clear to all that the governor had continued to engage in actions that are ‘anathema to good governance; peaceful coexistence, the rule of law and due process.’

Ihedioha regretted that

$US929.1bn The nominal GDP of South Korea (IMF) in 2009.

Source: Blatantworld.com

the case involving Eze Ilomuanya who is the substantive Chairman, Imo State Traditional Rulers’ Council and Chairman South East Traditional Rulers’ Council, and that of another traditional ruler in Mbaise land, Eze Cosmas Onyeneke, are matters under litigation and according to him, conveys Okorocha’s disdain for the traditional institution.

The Deputy Speaker, in the statement, recalled that Okorocha had lost the litigation against the removal of Ilomuanya from office as the substantive Chairman of Traditional Rulers Council of Imo State before the expiration of his tenure.

Hear him: “The Court of Appeal in its judgment had issued an injunction restraining the Governor, his agents and priv-

41.1%

The percentage of male internet users of Brazil in 2010.

Source: Itu.int

ies from taking any step to further truncate the subsisting tenure of Eze Cletus Ilomuanya. The case of Eze Cosmas Onyeneke is also subjudice with a subsisting Order of Interlocutory Injunction against the Imo State Government. Governor Okorocha is only expected to comply with the law and stop making our dear state the laughing stock of civilized societies.”

Ihedioha however urged the governor to retrace his step and show more respect to judicial pronouncements by immediately rescinding the purported de-recognition of the monarchs.

Justifying the dethronement of Ilomuanya who is also the traditional ruler of Obinugwu community in Imo state, the Secretary to the State Government, Prof. An-

16%

The percentage of hydroelectricity power generation of global electricity needs.

Source: Unesco.org

thony Anwukah, in a statement said cited sections 11 and 14 of the Imo State Traditional Rulers Autonomous Communities Law No 6 of 2006, as the grounds upon which Governor Rochas Okorocha approved the with-

drawal of the Certificates of Recognition and Staff of Office of Eze Cletus Ikechukwu Ilomuanya, the Traditional Ruler of Obinugu autonomous community in Orlu Local Government Area of the State.

Tinubu: PDP senators are frustrating me Wale Elegbede

T

he senator representing Lagos Central Senatorial District, Mrs. Oluremi Tinubu, has alleged that the Peoples Democratic Party (PDP) members in the upper chamber are playing politics with bills originating from All Progressives Congress (APC) senators, adding that the development was frustrating.

Addressing newsmen yesterday in Lagos during a press parley to mark her third anniversary of representing the constituency at the senate, Mrs Tinubu said the PDP caucusin the Senate was frustrating opposition party efforts.

According to her, "Activities in the Senate have been very depressing

such that there are a lot of things that I expect should be on the front-burner but I see them manipulating the lives of Nigerians, its sad.

"To me, it’s not a place I really feel I want to go back to except the APC becomes a majority. But if it’s a PDP government, I don't think it’s an environment I want to be, I've had my fill already."

On the National Social Security Agency Bill she sponsored, Tinubu lamented that, "It is supposed to have been considered, it has passed first, second reading, it has reached the committee level and they are supposed to bring it back, but that is the politics they are playing; they won't want an APC member’s bill to scale through.

Imo needs better governors, says Ihenacho Steve Uzoechi OWERRI

former Interior Nueligeria’s Minister, Capt. EmmanIhenacho, has lamented

L-R: Keynote Speaker, Chairman, Presidential Advisory Committee on 2014 National Conference, Dr. Femi Okurounmu; former Oyo State Governor, Dr. Victor Omololu Olunloyo and Chairman, Government College Ibadan Old Boys Association (GCIOBA), Lagos Branch, Dr. Wale Babalakin, during the 2014 Annual Luncheon, Lecture/ Merit Awards of GCIOBA in Lagos…yesterday

Universal Energy workers shut down production Tony Anichebe UYO

W

orkers of Universal Energy Resources Limited (UERL) in Akwa Ibom State, an indigenous oil exploration firm and operator of the Stubb Creek Marginal Oil Field, through their unions, have expressed displeasure over the firm’s management’s insensitivity to their welfare.

The unions, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and National Union of Petroleum and Natural Gas Workers (NUPENG), said it was annoying that their sacrifices to sustain the company over the years were being treated with disdain.

Speaking on behalf of the unions, the Assistant Secretary General of PENGASSAN, Port Harcourt Zone, Tamuno Dappu, said there was a calculated attempt by the management to force redundancy on their members, saying “just when we were ready to produce our first oil, the management decided to kill the goose that laid the golden egg by bringing up a new set of employees to displace members who have worked tirelessly and when they were supposed to enjoy the fruit of their labour, the management, through an investor, SEPTA Energy, decided to bring in new set of people thereby rendering members of the unions redundant.

“And this, management did without consulting with the unions in line with the Collective Bargaining Agreement (CBA) as it concerns the Joint Operating Team (JOT) of UERL and SIPEC, a Chinese partnering company.”

“We have decided to sit in front of our company and refuse such tyranny to take place in a democratic and peace-loving state like Akwa Ibom State. We do not want any company that is anti-labour to come and disrupt the good things.

“And until they renege on their stance, we are not going to allow any operation,” he said further.

Investigation revealed that there was a move by the management through

what it called its ‘core investor,’ SEPTA Energy, to distort the organization’s structure by bringing in what the staff called ‘foreigners and non-indigenes”.

The aggrieved workers chanted solidarity songs and also displayed placards with some inscriptions like: “Another Chibok tragedy in AKS. SEPTA Energy bring back our Universal Energy for Akwa Ibom Youths,” “Seven Energy is on a mission to enslave Akwa Ibom people,” “JOT is for Universal Energy and SIPEC and not SEPTA Energy,” “Respect our CBA,” “SEPTA Energy don’t short change our members, UERL has only Stubb Creek project,” among others.

what he described as governance by default, arguing that there can be no reduction in the high level of unemployment and poverty in Imo State until the state makes a deliberate effort to put the right people in power.

The ex-minister, who is also a gubernatorial aspirant under the platform of the All Progressive Grand Alliance (APGA) made this remark at the inauguration of his Campaign Organisation for Orlu/Oru-East/ Orsu Federal Constituency

yesterday at the St. Mary’s Primary School playground Orlu in the state.

He said: “Poverty has become pervasive in Imo. Nothing is working. We have had enough ‘accidental’ governors. I cannot be an onlooker while professional politicians hijack the leadership of our state again. The best is not to condemn but to get involved. From 1999 (when) the military left till date it’s about 15 years. 15 years is enough to develop a state with great potentials like Imo. How many years did it take Dubai to get to where it is today? Imo is bigger than some countries that are thriving today.

APC Convention: Women, disabled candidates get 50 percent waiver Yekeen Nurudeen ABUJA

A

s the All Progressives Congress (APC) prepares for its national convention, women and physically challenged persons interested in various elective positions have been granted 50 percent waiver on the cost of nomination form.

The chairman, publicity and media sub-committee of the convention planning committee, Rotimi Fashakin, disclosed this to journalists in Abuja at the end of a meeting of the committee.

He said women and disabled members of the party wishing to contest during the convention

were to pay N100,000 as against N100,000 to be paid for other posts except National Chairman, Vice and National Secretary which are N200,000, N150,000 and N100,000 respectively.

He said the committee is still working on the guidelines for election during the convention.

His words: "Right now we have moved ahead again with respect to our arrangements for the APC convention.

Thursday and Friday June 12 and 13 are the days slated for the convention. Thursday we intend to have accreditation for all the delegates and Friday from 2:30pm we would start the convention."

NEWS 49

Sanctity of Truth

Monday, June 9, 2014

CLAMP DOWN ON NEWSPAPERS

You can't win war against media, APC warns Jonathan Yekeen Nurudeen ABUJA

T

he All Progressives Congress (APC) has condemned what it called the unreasonable siege on newspapers across the country by security agencies,warning that the Jonathan Administration, by tampering with press freedom, has taken on a battle it cannot win.

APC said with the clampdown on the media, the federal government has opened a new but dangerous flank in its war against Nigerians.

The opposition party said in a statement issued

in Lagos yesterday by its Interim National Publicity Secretary, Alhaji Lai Mohammed that the President failed to learn the lessons of history that the Nigerian media can neither be intimidated nor suppressed by anyone, noting that all those who tried to do so in the past lived to regret their actions.

While wondering what kind of weapons the small newspaper distribution vans could be used to ferry that cannot be conveyed by other, bigger vehicles that move around the country undisturbed, APC said the government ought to diligently prosecute the war on terror

that every Nigerian was asking it to vehemently embark on. ''Had the government pursued the insurgents who are killing and maiming Nigerians with the same vigour with which it had descended on the media, the war against terror would have been long over,'' he said.

The party described as disingenuous and ridiculous the explanation that an intelligence alert was responsible for the shameful and unacceptable clampdown on the media, and the platitude that the Jonathan Administration holds the media in high esteem.

Journalists will fight govt in streets, courts, says Ogundipe Lateef Ibrahim ABUJA

F

ORMER President of the Nigeria Union of Journalists, NUJ, and member of the on-going National Conference in Abuja, Mr Lanre Ogundipe has faulted the latest clampdown on the Nigerian press by the military, describing the development as worrisome.

Ogundipe stated this in a press release which he personally issued and signed, titled: "Is the usual Government attack on Media on stream again?”

The former NUJ president vowed that the Union and its members will fight

the government on the streets, in the courts, in the markets and even in Aso Rock if it dares.

The confab delegate declared that arresting journalists and clamping down on media houses will tarnish the image of the government.

This act, he reasoned, will further ruin the benefit of interface with the stakeholders in the industry.

Ogundipe made it clear that only dialogue between the authorities and the media would provide a more enabling environment for media freedom, freedom of expression and ultimately citizen government rather than arbitrary use of force.

The press statement reads: "It is worrisome to read the Military denial on the clampdown on Nigerian Press by the military spokesman, Major-General Chris Olukolade on the seizures of publications of The Punch, The Nation, Daily Trust, Leadership and others on the pretence of security reports as laughable.

"The siege on media practitioners in the last few months is an indication of government's plan to once again muzzle the press and prevent it from discharging its responsibility to the public as the watchdog of the society and the social conscience of the nation.

Aborisade condemns attack on the press

Temitope Ogunbanke

F

ormer National Secretary of National Conscience Party (NCP), Comrade Femi Aborisade, has described the forceful seizure and impounding of some printed copies of Nigerian newspapers as well as the automobiles conveying them by the military in several states of the country last Friday, as an attack on the fundamental right of all Nigerians to freely express themselves and be informed of facts, actions and inactions in the corridors of power.

Aborisade in a statement made available to New Telegraph, also noted that the attack on the press is not only undemocratic and unconstitutional, it also represents a rape on Nigeria's civil rule regime.

He stated: "The act of forceful seizure and impounding of printed copies of newspapers published by The Punch, The Nation, Leadership and Daily Trust as well as the automobiles conveying them by the military in several states of the Federation on Friday, 6 June 2014 is not only undemocratic and unconstitu-

tional, it also represents a rape on Nigeria's civil rule regime.

"It portends danger for the sustenance of democratic rule in Nigeria. It is a sad reminder that the dark era of military dictatorship (albeit under a civilian dispensation) is here again. Section 22 of the Constitution of the Federal Republic of Nigeria, 1999, provides that 'the press, radio, and other agencies of the mass media shall at all times be free to uphold the responsibility and accountability of the Government to the people.'

Clampdown on Newspapers, barbaric, unconstitutional - OCSC Adeolu Adeyemo OSOGBO

T

he Osun Civil Societies Coalition (OCSC), an umbrella for pressure groups in Osun State yesterday berated the Nigeria Army over the clamp down on some newspapers across the country.

OCSC also slammed President Goodluck Jona-

than for folding his arm and allowing soldiers to attack the media which it said soundly and effectively fought for the democracy that craved opportunity for him to lead Nigeria as a civilian president.

The pressure group in a press statement signed by its Publicity Secretary, Comrade Ismaeel Uthman in Osogbo, condemned the

act, which it described as illegal, barbaric and unconstitutional.

He said the action of the Nigeria Army contravened Sections 22 and 39 of the Constitution of the Federal Republic of Nigeria which among others guarantees the rights to own media house, freedom of opinion, expression and assembly.

L-R: Former Vice-President, Atiku Abubakar; Ambassador Ibrahim Maisule and Abdullahi Nyako, at the wedding of Muhammad, son of Ambassador Maisule in Abuja…at the weekend.

EKITI 2014

Sambo pacifies aggrieved PDP guber aspirants Stories by Adesina Wahab ADO-EKITI

V

ice President Namadi Sambo on Sunday in Ado-Ekiti held a closed door meeting with former governorship aspirants in Ekiti State as well as some stakeholders of Peoples Democratic Party (PDP) in the South-West geopolitical zone.

The State Chairman of Ekiti State PDP, Chief Makanjuola Ogundipe, who briefed journalists

at the end of the threehour meeting, said the Vice President addressed all issued relating to the well-being of the party and preparation for June 21 poll in the state.

On the demands by some former aspirants that the money they paid for expression of interest and nomination Forms, totaling N11 million be refunded, Ogundipe said all the issues they raised were being addressed.

However, it was

learnt that Sambo told the meeting, held at Pathfinder Hotel in the state capital to rally round the party's candidate, Mr. Ayo Fayose and ensure his victory at the poll.

The Vice President assured that the Presidency would provide every logistic possible that Fayose might need to excel in the election.

Besides, Sambo advised party members against being provoked to self-help.

Governor's wife empowers women, promises more

W

ife of Ekiti State Governor, Erelu Bisi Fayemi, has given out N5 million cash to over 45 co-operative societies drawn from various farmsteads across the state with a promise of more goodies if her husband is re-elected.

She also gave farm implements and items worth millions of naira to different farming groups.

Speaking on the occasion in Ado-Ekiti at the

weekend, Fayemi said the action was in fulfilment of the promises she made while on tour of the farmsteads in some parts of the state.

Equipment distributed at the event included palm oil processing machines, cassava grinding machines, motorbikes, and cassava flour frying plates among others.

Distributing the cash and other items to the people, Erelu Fayemi said

the gesture was part of the promises she made to them and that the administration of her husband would do more if given another chance.

She urged them to adequately and judiciously utilise the money, saying it was meant to improve their trade and businesses and not to be spent, urging them to manage their affairs with all seriousness in their various communities for better productivity.

Kinsmen tackle Bamidele over comments on Adebayo insmen of the Labour Party (LP) governorship candidate in Ekiti State, Hon. Opeyemi Bamidele, have launched a verbal attack on him over some comments he made against former Governor Niyi Adebayo.

The people, who are appointees of incumbent Governor Kayode Fayemi, said at the weekend in Ado-Ekiti that Bamidele was ungrateful to Adebayo and that he had bit-

K

ten the finger that fed him.

Adebayo, Bamidele and the political appointees are all from Iyin-Ekiti in Irepodun/Ifelodun Local Government Area of the state.

Their spokesman, who is also the Chairman, Ekiti State House of Assembly Service Commission, Chief George Ojo, said Bamidele had not impacted positively on the lives of his constituents in Ado/Irepodun Ifelodun

T

Ekiti is under Fayemi's siege, says LP

he Labour Party (LP) governorship candidate in Ekiti State, Hon. Michael Opeyemi Bamidele has described the rising spate of insecurity as a siege masterminded by the incumbent governor, Dr Kayode Fayemi in his bid to remain in power at all costs.

This is just as he con-

demned Sunday's killing of two youths in Ado-Ekiti.

He described the killing as uncalled for, barbaric and tragic.

In a statement signed by his media aide, Ahmed Salami in Ado-Ekiti on Sunday, he alleged that thugs sponsored by APC

Federal Constituency since he became a member of House of Representatives in 2011.

Ojo said that Adebayo, who governed the state between 1999 and 2003 on the platform of the defunct Alliance for Democracy, employed about 300 graduates of the town into the state public service, saying, “Adebayo has never been a political liability to Iyin-Ekiti as claimed

by Bamidele”.

unleashed terror on ordinary passersby in the heart of the state capital Sunday morning, leading to the death of the boys.

Bamidele called for urgent steps by stakeholders in Ekiti and the security agencies to stop the ongoing blood letting.

50 WORLD | NEWS

Sanctity of Truth

Monday, June 9, 2014

New Egypt president sworn in, calls for stability

E

gypt's former army chief Abdel-Fattah el-Sissi was sworn in yesterday as president for a four-year term, assuming the highest office of a deeply polarized nation roiled by deadly unrest and an economic crisis since its Arab Spring uprising in 2011.

El-Sissi's inauguration came less than a year after he ousted the country's first freely elected president, Islamist Mohammed Morsi, following days of mass protests demanding he step down.

While praised by many in a wave of nationalist fervor following the July 3 overthrow, el-

Sissi's rise to power coincided with the detention of thousands and the killing of hundreds of Morsi supporters. Now, the retired field marshal faces the daunting tasks of reviving Egypt's stagnant economy, fighting Islamic extremists and cementing his rule after years of turmoil in the Arab world's most populous country.

"The presidency of Egypt is a great honor and a huge responsibility," el-Sissi told local and foreign dignitaries gathered at an opulent Cairo palace hours after his swearing-in ceremony.

Under his rule, he said, Egypt will work for regional security

and stability. He also called on Egyptians to build a more stable future after three turbulent years, asking them to work hard so that their rights and freedoms could grow.

"It is time for us to build a future that is more stable and pen a new reality for the future of this nation," he said. Hard work, something that he has repeatedly called for in recent weeks, will allow Egyptians to "pay attention to rights and freedoms (to) deepen and develop them,"

he said.

El-Sissi, 59, earlier took the oath of office before the Supreme Constitutional Court at the tribunal's Nile-side headquarters in a suburb south of Cairo, the same venue where Morsi, now on trial for charges that carry the death penalty, was sworn in two years ago.

The building, designed to look like an ancient Egyptian temple, is a short distance away from a military hospital where longtime ruler Hosni Mubarak, toppled by

the 2011 uprising, is being held.

Forced out of office after 29 years in power, Mubarak was convicted last month on graft charges and sentenced to three years in prison. He is also being retried over the killing of protesters during the 18-day revolt.

Yesterday was declared a national holiday for el-Sissi's inauguration and police and troops deployed throughout Cairo. The entire Cabinet, as well as el-Sissi's wife and children, attended the swearing-in ceremony.

Israeli, Palestinian presidents in unprecedented Vatican prayers

I

sraeli and Palestinian presidents meet in an unprecedented prayer meeting with Pope Francis on Sunday, a gesture he hopes will "re-create a desire, a possibility" of re-launching the Middle East's stalled peace process.

The Vatican has played down any expectations that the yesterday evening meeting between Shimon Peres and Mahmoud Abbas - billed as a "pause from politics" will lead to any immediate breakthroughs in the region's tortuous problems and says it is not meddling in regional issues."No one is presumptuous enough to think peace will break out on Monday," said Father Pierbattista Pizzaballa, a Church official in charge of Catholic sites in the Holy Land and a key organiser of the encounter.

"The intention of this initiative is to re-open a road that has been closed for some time, to re-create a desire, a possibility, to make people dream," he said, adding that the pope does not want to get involved in details of issues such as borders or settlements.

Israeli Prime Minister Benjamin Netanyahu, the key Israeli decision-maker, is not attending and he refuses to deal with the Palestinian unity government, backed by Hamas Islamists, which Abbas swore in last Monday. Peres will leave office next month.Netanyahu has made no direct comment on the meeting but in remarks on Sunday at a paramilitary police base in Jerusalem he suggested that prayer is no substitute for security.

"For thousands of years, the people of Israel have been praying for peace daily. But until peace comes, we will continue to strengthen you so that you can continue to defend the State of

Israel. Ultimately, that is what will guarantee our future and will also bring peace," he told the troops.

But the fact that Francis' bold move has managed to bring the two presidents together shows his desire to engage political leaders, offering inter-religious dialogue as a building block.

The meeting is taking place more than a month after U.S.-led peace talks collapsed amid bitter mutual recrimination. The pope, in his weekly Sunday address in St. Peter's Square, said he hoped faithful of all religions "will unite themselves spiritually to our plea".

The pope made his surprise invitation to the two heads of state while he was in the Holy Land last month. The minutely orchestrated event on a small lawn in the Vatican gardens a space the Vatican has called "neutral" because it is bereft of religious symbols - will be the presidents' first public meeting in more than a year.

It will also mark the first time that Jewish, Christian and Islamic prayers will be held in the tiny city state that is the headquarters of the 1.2 billion member Roman Catholic Church.

The Palestinian and Israeli delegations will include religious leaders of various faiths.

President Abdel Fattah al-Sisi reviews guards of honor after he was sworn in as president of Egypt, at the presidential palace in Cairo

Sudan arrests second opposition leader

S

udanese police yesterday arrested an opposition leader accused of having criticised a counter-insurgency unit, an aide said, in the second such case in just over three weeks. Sudanese Congress Party chief Ibrahim alSheikh was taken away from his home in Nuhud town of West Kordofan by police acting on an arrest warrant, the party's secretary general, Abdelqayum Awad, told AFP. "They accused him of undermining the constitutional regime, spreading lies and threatening peace," he said.

Sheikh could face the death

penalty if found guilty of these charges, he said.

According to Awad, Sheikh, a former university professor, had at a rally on Saturday criticised the actions of the counterinsurgency unit known as the Rapid Support Forces (RSF) and protested over politicallymotivated arrests. On May 17, Sadiq al-Mahdi, an ex-premier who heads the opposition Umma Party, was arrested after he reportedly accused the RSF of rape and other abuses of civilians in the Darfur region of western Sudan. He too has been charged with treason-related offences and could face a

possible death sentence if convicted. Mahdi, a descendant of Sudan's legendary Islamic reformer known as the "Mahdi", is also a religious leader revered by his followers.

The United States and the European Union have expressed concern over his arrest, and in Sudan thousands of Mahdi's supporters have held protests demanding his release. Khartoum has banned newspapers from reporting on his case. The RSF operates under the authority of the National Intelligence and Security Service and has denied Mahdi's reported claims.

Three inmates escape with helicopter in Canada

T

hree inmates have escaped from a detention centre in Quebec City, Canada with the help of a helicopter.

It's the second helicopteraided inmate escape in Quebec province in two years.

Provincial police said the helicopter headed west from the Orsainville Detention Cen-

ter after the escape.

"We (are working with) a few partners like the airports of Quebec City and surrounding areas, the military bases, and of course there's a ground search in the event that the helicopter is located," said police spokeswoman Audrey-Anne Bilodeau.

Police identified the inmates on Twitter as Yves Denis, Denis Lefebvre and Serge Pomerleau and told anyone who sees them to not approach them and immediately contact police.

They were being held at the detention center waiting to stand trial.

In March of last year, a he-

licopter pilot was forced at gunpoint to pluck two inmates from the St-Jerome prison on a quiet Sunday afternoon. Two inmates climbed up a rope ladder into the hovering helicopter and fled.

Police caught the two escapees and the two suspects who hijacked the helicopter within a few hours of the escape.

Garba wants fighters in Brazil

Charles Ogundiya

F

lying Eagles coach, Manu Garba, has called on the Super Eagles players to fight for each other, as they take on the rest of the world in Brazil.

Super Eagles are yet to win a match after three preparatory matches. The

team played a 2-2 draw against Scotland, goalless draw against Greece before succumbing to a 2-1 loss against the USA. “Before now, Keshi said he was taking fighters to Brazil and not just players. I will implore the boys to proof him right by fighting for each other in Brazil.

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

“They must be focused handworking.

They must be determined to fight and do the nation proud at the World Cup,” Garba told New Telegraph.

The former Under-17 national coach said Nigeria can achieve success in Brazil and get as far as the final if the eagles cross the hurdle of the first round.

“If they can make it out of the group stage, the team has what it takes to go very far in Brazil. Who says Nigeria cannot win the World Cup? The boys can beat any team from the second round, but first they have to get out of the group by getting the needed results against Iran, Bosnia and Argentina.”

NEW TELEGRAPH

newtelegraphonline.com/sports

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

Monday, JUNE 9, 2014

Uwe reveals Bosnia’s weak links

...charges Eagles to whip Iran Ifeanyi Ibeh

F

ormer Nigeria defender, Andrew Uwe, has given some tips to Super Eagles Head Coach, Stephen Keshi, on how the team can easily exploit some weak links in the Bosnia-Herzegovina side, in the crunch group F tie scheduled to hold in June 21 in Cuiaba, Brazil.

Uwe noted that Bosnia are the most dangerous opponents of the Eagles in the preliminary stage of the World Cup but the Eagles should do the first job of beating Iran in the opener.

He argued that the greatest mistake any team could make would be to underrate the Bosnian team because of their debutant status.

Uwe recalled that at USA ‘94, Nigeria as debutants whipped Bulgaria 3-0 in the group opener because the Bulgarians underrated the Eagles.

“Everyone expects Iran to finish bottom of the group, and they will, but they will not want to leave Brazil without making some sort of impact, so our guys have to be careful, but not too careful. They need to play Iran as if their lives depend on it and get as many goals as they can to put pressure on Bosnia

51

USA’s striker Jozy Altidore making an attempt to score against Nigeria’s Joseph Yobo

and Argentina, especially the Bosnians,” stressed Uwe, who went on to disclose how the Super Eagles could get one over the Blue Dragons by taking advantage of the shortcomings of the team’s 33-year-old captain, Emir Spahic, who plays for German Bundesliga side, Bayer Leverkusen.

“Spahic is a very intelligent defender, but he is no longer as fast as he once was and now has a tendency to lose his cool and pick up cards, especially when facing strong, fast and stubborn strikers,” said Uwe. “(Emmanuel) Emenike is very strong and no matter how hard you tackle him he

keeps coming back for more. Same goes for (Osaze) Odemwingie, and even (Victor) Moses, so they should be given the green light to run at the Bosnian defence.”

Spahic has only been sent off once in his 11-year national team career, but last season the former Anzhi and Sevilla defender picked up 10 yellow cards and two red cards in 33 appearances in all competitions for Leverkusen.

The Super Eagles get their World Cup campaign underway on June 16 with a game against Iran before taking on Bosnia-Herzegovina five days later.

Uwe, who captained the Flying Eagles to a bronze medal finish at the 1985 FIFA U-20 World Cup in the former USSR, and who featured at both the 1988 and 1990 Africa Cup of Nations, isn’t underrating the Iranians, but feels the Asians are the weakest side in Group F and expects the Super Eagles, Argentina and Bosnia to grab wins against them.

The “true test” for Stephen Keshi’s side will however, come in the game against the Bosnians, a game Uwe feels will make or mar Nigeria’s chances of progressing to the knockout rounds.

“No game is easy anymore so I expect the Super Eagles to approach every game as they would approach a final, especially their opening games against Iran and Bosnia,” said Uwe, now a coach in Germany, in an interview with New Telegraph. “If they can win those games then they can face Argentina with little or no pressure.”

Oshonaike ready for Lagos Table Tennis Classics

Adekunle Salami

N Oshonaike

ational Table Tennis star, Funke Oshonaike, is battle ready to compete for honours in the forthcoming Lagos Table Tennis Classics.

The Germany based ping ponger told our correspondent that the event organised by Lagos state would be a good test for the Commonwealth Games scheduled to start on July

23 in Glasgow, Scotland.

Lagos Classics starts on June 23rd, and Oshonaike is one of the few professional players invited to feature in the international event that attracts players from other parts of Africa and Europe.

She said,” It is important to take every opportunity to keep fit seriously, especially as the Glasgow games draw near. The Lagos classics is very timely and I am set to do my best.

“Last year, the competition was amazing and so I expect an improvement this time because many of the top players coming for the event are also going for the Commonwealth Games.”

At last years’s event, Oshonaike lost in the semifinal of the competition, but this time she is hoping to go all the way.

“I am in good shape to go all the way,” she said.

52

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Monday, June 9, 2014

Countdown to Fifa World Cup 3

Days To Go

Brazil : Eagles seek first win in 16 years

Emenike

Onazi (right)

Adekunle Salami

T

he World Cup is a big stage. It comes up every four years with high expectations. The first edition of the event was held in 1930 and it took Nigeria 64 years to be part of the global football showpiece. If we are looking at it from Independence, it took 34 years after Independence before the Super Eagles qualified to play at the Mundial.

All through the 70s and 80s, Nigeria tried but always crumbled at the last qualifying stage. The North African countries; Tunisia, Algeria and Egypt proved to be the stumbling block. The Eagles were so close to earning a ticket to Italia 90, but the Lions of Cameroun also denied them after two legs. It was the first major test for coach Clemens Westerhof who eventually took Nigeria to her first World Cup in 1994 in the USA. In the first match, Nigeria defeated Bulgaria 3-0.

It took the world by surprise and against Argentina crumbled due to inexperience, but whipped Greece 2-0 to book second round berth.

After a very inspiring game, Eagles lost 2-1 to Italy in the last 16 stage. Emmanuel Amuneke shot Nigeria ahead but with just seconds left in the game Italy equalised to take the game into extra time and went ahead to score a penalty in the extra time to painfully clinch a quarterfinal ticket.

At France ’98, Nigeria recorded her best win in World Cup history with a pulsating 3-2 win over highly rated Spain in Nantes. Sunday Oliseh’s long range shot proved to be a crucial decider. In the second match, Nigeria again defeated Bulgaria 1-0 courtesy of a Victor Ikpeba strike.

Incidentally, the victory over Bulgaria in France was Nigeria’s last at the World Cup. At the Korea Japan 2002 and South Africa 2010, Nigeria lost two games and managed one draw respectively.

At the last World Cup in South Africa, Nigerian strikers bungled chances against Greece to give the Europeans their first World Cup win.

In Brazil, Emmanuel Emenike and Osase Odemwinge are expected to lead the attack of the Super Eagles with support from Victor Moses and Ahmed

Musa from the flanks.

Emenike is strong and agile upfront but it is easy to mark him out once there is no space for shot taking or solo runs. Odemwinge’s exploits last season with Stoke City was impressive and if he finds his rhythm, he will be a big boost to the team.

Ogenyi Onazi is a midfielder operating from the defensive position but he has a way of taking surprise shots that could help the team in Brazil if well directed. If he takes five in a match maybe one will hit the target.

Eagles coach, Stephen Keshi, is optimistic that his wards are good enough to break the 16-year old winless jinx at the Mundial.

He said, “We don’t believe there is a jinx anywhere, every team has its own features. Two teams cannot be the same. We have a team that can win games at the World Cup. In Brazil, we are going to win matches.

“The strikers are not alone in this. It is going to be team effort. Anybody can score in the team. We have been working hard to record wins in Brazil and I believe it will happen when the competition starts.”

Skipper Joseph Yobo is banking on teamwork to give the Eagles victories in Brazil.

“We are eager to get results. We are working hard by playing for one another as a team and that is a strong bond I believe will help us at the World Cup. It will be difficult for our opponents if they are looking for the player to mark out in our team. We are determined to win games and generally do well at the World Cup, “Yobo said.

Eagles’ pointman, Emenike, also argued that the support from his colleagues would be vital to the success of the team at the Mundial.

Osaze

“I cannot do it alone. I expect strong support from my colleagues to enable us to win games at the World Cup. We have been working hard in training to perfect our understanding. I am certain we are going to do well,” he said.

On June 16, Nigeria will lock horns with Iran and there can’t be a better opportunity to record a win.

Iranians are also good collectively, but if the Eagles rise to the challenge, the 16-year-old jinx will be broken.

A former international, Jonathan Akpoborie, however, urged the Eagles to approach the match with caution and respect.

“The Eagles must not underrate Iran. They are very good collectively but we have better talents to win the game. We have not won a match since France ’98, but I am positive we are going to win games in Brazil. With hard work’ we could win our first two games at the World Cup,” Akpoborie said.

Odemwinge also stated that he was up for the challenge of banging in goals when the global soccer fiesta kicks off in Brazil.

“I am ready to give my all in this competition. We have a good team and I am very positive that we are going to go far in the World Cup. We are going to take each match as it comes starting with the game against Iran,” he said.

On paper, Eagles are expected to have an easy ride over Iran but experience has shown that only 90 minutes decide outcomes of games.

“Every team in the World Cup finals is a potential champion. It is wise not to underrate anyone in Brazil.

We have a good team and all I will say is for them to be determined to achieve success with the Nigerian spirit,” a former Director General of the National Sports Commission, Dr. Patrick Ekeji, noted.

Against the USA in a friendly match on Saturday in Florida, USA, the Eagles lost 2-1 with Victor Moses converting a late penalty. The defence was poor while the attack did not show promise and readiness to win games at the Mundial.

Keshi needs to do more work to tidy the defence and sharpen the attack. He has just five days to do all that before the first match against Iran. It is a tough call.

52

SPORT

Monday, June 9, 2014

Countdown to Fifa World Cup 3

Days To Go

Brazil : Eagles seek first win in 16 years

Emenike

Onazi (right)

Adekunle Salami

T

he World Cup is a big stage. It comes up every four years with high expectations. The first edition of the event was held in 1930 and it took Nigeria 64 years to be part of the global football showpiece. If we are looking at it from Independence, it took 34 years after Independence before the Super Eagles qualified to play at the Mundial.

All through the 70s and 80s, Nigeria tried but always crumbled at the last qualifying stage. The North African countries; Tunisia, Algeria and Egypt proved to be the stumbling block. The Eagles were so close to earning a ticket to Italia 90, but the Lions of Cameroun also denied them after two legs. It was the first major test for coach Clemens Westerhof who eventually took Nigeria to her first World Cup in 1994 in the USA. In the first match, Nigeria defeated Bulgaria 3-0.

It took the world by surprise and against Argentina crumbled due to inexperience, but whipped Greece 2-0 to book second round berth.

After a very inspiring game, Eagles lost 2-1 to Italy in the last 16 stage. Emmanuel Amuneke shot Nigeria ahead but with just seconds left in the game Italy equalised to take the game into extra time and went ahead to score a penalty in the extra time to painfully clinch a quarterfinal ticket.

At France ’98, Nigeria recorded her best win in World Cup history with a pulsating 3-2 win over highly rated Spain in Nantes. Sunday Oliseh’s long range shot proved to be a crucial decider. In the second match, Nigeria again defeated Bulgaria 1-0 courtesy of a Victor Ikpeba strike.

Incidentally, the victory over Bulgaria in France was Nigeria’s last at the World Cup. At the Korea Japan 2002 and South Africa 2010, Nigeria lost two games and managed one draw respectively.

At the last World Cup in South Africa, Nigerian strikers bungled chances against Greece to give the Europeans their first World Cup win.

In Brazil, Emmanuel Emenike and Osase Odemwinge are expected to lead the attack of the Super Eagles with support from Victor Moses and Ahmed

Musa from the flanks.

Emenike is strong and agile upfront but it is easy to mark him out once there is no space for shot taking or solo runs. Odemwinge’s exploits last season with Stoke City was impressive and if he finds his rhythm, he will be a big boost to the team.

Ogenyi Onazi is a midfielder operating from the defensive position but he has a way of talking surprise shots that could help the team in Brazil if well directed. If he takes five in a match maybe one will hit the target.

Eagles coach, Stephen Keshi, is optimistic that his wards are good enough to break the 16-year old winless jinx at the Mundial.

He said, “We don’t believe there is a jinx anywhere, every team has its own features. Two teams cannot be the same. We have a team that can win games at the World Cup. In Brazil, we are going to win matches.

“The strikers are not alone in this. It is going to be team effort. Anybody can score in the team. We have been working hard to record wins in Brazil and I believe it will happen when the competition starts.”

Skipper Joseph Yobo is banking on teamwork to give the Eagles victories in Brazil.

“We are eager to get results. We are working hard by playing for one another as a team and that is a strong bond I believe will help us at the World Cup. It will be difficult for our opponents if they are looking for the player to mark out in our team. We are determined to win games and generally do well at the World Cup, “Yobo said.

Eagles’ pointman, Emenike, also argued that the support from his colleagues would be vital to the success of the team at the Mundial.

Osaze

“I cannot do it alone. I expect strong support from my colleagues to enable us to win games at the World Cup. We have been working hard in training to perfect our understanding. I am certain we are going to do well,” he said.

On June 16, Nigeria will lock horns with Iran and there can’t be a better opportunity to record a win.

Iranians are also good collectively, but if the Eagles rise to the challenge, the 16-year-old jinx will be broken.

A former international, Jonathan Akpoborie, however, urged the Eagles to approach the match with caution and respect.

“The Eagles must not underrate Iran. They are very good collectively but we have better talents to win the game. We have not won a match since France ’98, but I am positive we are going to win games in Brazil. With hard work’ we could win our first two games at the World Cup,” Akpoborie said.

Odemwinge also stated that he was up for the challenge of banging in goals when the global soccer fiesta kicks off in Brazil.

“I am ready to give my all in this competition. We have a good team and I am very positive that we are going to go far in the World Cup. We are going to take each match as it comes starting with the game against Iran,” he said.

On paper, Eagles are expected to have an easy ride over Iran but experience has shown that only 90 minutes decide outcomes of games.

“Every team in the World Cup finals is a potential champion. It is wise not to underrate anyone in Brazil.

We have a good team and all I will say is for them to be determined to achieve success with the Nigerian spirit,” a former Director General of the National Sports Commission, Dr. Patrick Ekeji, noted.

Against the USA in a friendly match on Saturday in Florida, USA, the Eagles lost 2-1 with Victor Moses converting a late penalty. The defence was poor while the attack did not show promise and readiness to win games at the Mundial.

Keshi needs to do more work to tidy the defence and sharpen the attack. He has just five days to do all that before the first match against Iran. It is a tough call.

SPORT 53

Monday, June 9, 2014

Inside Super Eagles Camp

Crisis hits Eagles camp

3

Days To Go

lAs Nigerian stars demand appearance fee

T

he camp of Super Eagles has been thrown into confusion as players demanded from the Nigeria Football Federation World Cup appearance fee.

Reports emerged that Nigerian stars led by skipper Joseph Yobo and Mikel Obi have met with the leadership of the NFF to demand an appearance fee.

This is outside the match bonus, which starts at $10,000-a-man for a first round match win, announced for the players for Brazil 2014.

“The players led by Yobo and Mikel met with NFF president Aminu Maigari and some of his officials to demand for their own share of the cash FIFA will pay the country for at least featuring in the first round of the World Cup,” a top source said.

Nigeria will already earn more than $9 million for qualification and participation in the first round of the 2014 World

Cup and they will get more if they reach the knockout stages of the competition.

For the World Cup warm-ups against Scotland, Greece and USA, each player received an appearance fee of $3,000.

Fellow World Cup finalists Ghana are on an appearance fee of $75,000-a-man for the 23 players who made the final cut to Brazil 2014.

It would be recalled that a row over such a fee derailed the Super Eagles at the 1998 World Cup in France as players and officials were locked in lengthy meetings to resolve the impasse.

Most recently, another pay row almost caused the country to miss out on the 2013 FIFA Confederations Cup in Brazil, be- United States’ defender Fabian Johnson, challenging Nigeria’s Victor Moses, during fore the Presidency intervened to avoid the international friendly match on Saturday an international embarrassment.

This has led to the introduction of a code of conduct for the Eagles.

The Eagles are due in Sao Paolo, Brazil, on Tuesday.

Don’t judge us with friendlies- Azeez

AkpoboriequestionsEchiejile‘sreplacement

E

x-Nigeria international, Jonathan Akpoborie, has questioned the rationale behind replacing injured defender, Elderson Echiejile, with a forward, Ejike Uzoenyi.

AS Monaco left back, Echiejile, was dropped from Brazil 2014 after his muscle tear injury against Greece, which will sideline him for at least three weeks.

In his place will be left-sided winger or midfielder Uzoenyi, who was first dropped from the provisional squad.

“I still don’t understand why Keshi took six central defenders to the World Cup. And the latest of replacing a left back with an attacking midfielder cum winger is alarming. I am waiting to see

because I have never seen Ejike Uzoenyi play in the left back before. And we already have five centre backs, so we are all waiting to see.”

Akpoborie again raised concerns over the Eagles defence, but said the Super Eagles should not be judged on the 2-1 loss to the USA. “Our defence is still very unstable.

We have Vincent Enyeama to thank for the scoreline because it could have been worse,” he remarked.

“But I don’t think the Eagles should be judged based on their performances in the recent friendly games especially against USA. I must say the performance against USA was very poor.”

GullitsnubsNigeria,tipsGhana,Cameroon Emmanuel Tobi

F

ormer Dutch star, Ruud Gullit, has snubbed Nigeria as one of the teams to watch at the World Cup but rather tipped the Black Stars of Ghana and Indomitable Lions of Cameroon to fly Africa’s flag high at the competition.

Four years ago in South Africa, Ghana were the only one of the continent’s six representatives to reach the knockout stage, where they beat the United States, but he lost to Uruguay on penalties in the quarter-final.

“I hope that an African country will do well. A lot of African countries have players that play in the Champions League, play in good teams in Europe.

“So maybe Ghana or Cameroon,” he told Reuters on Sunday.

Ghana are in a tough group with Germany, Portugal and the United States while Cameroon play hosts Brazil, Croatia and Mexico in Group A.

Algeria, Ivory Coast and Nigeria are the other sides from the continent that qualified for the showpiece event.

Gullit, who played at the 1990 World Cup, but missed the 1994 competition after walking out of the pre-tournament training camp, picked hosts Brazil as the favourites.

Ajibade Olusesan

S

uper Eagles midfielder, Ramon Azeez, has enjoined Nigerians not to rate the national team on the strength of the friendly matches they played ahead of the World Cup. The Almeria midfielder told New Telegraph in an exclusive interview that Nigeria would see a different team at the World Cup. “It is normal for Nigerians to be unhappy over the results we have had in the friendly matches, but I will advise them not to lose sleep over this because they were just friendly matches. I think those matches were to prepare us for the World

Cup, to identify the weaknesses and mistakes and correct them, but I can tell you that those results were not true reflection of the strength of this team.

“I can tell Nigerians that they need not fear because they are going to see the real Eagles at the World Cup,” he said.

The player said that the oneness and determination of the players coupled with support from Nigerians would get the team far in Brazil “I am impressed with what I have seen in this team so far, we are just one big family. Although I am new in the squad, I don’t feel that way because everyone has treated me well. We will go far in the World Cup, the determination is there, the skill and ability are there,” he said.

Oboabona slams Eagles defence

N

igeria defender, Godfrey Oboabona, is disappointed by the two goals conceded by the Super Eagles in their 2-1 loss to the USA, and blames it on lack of communication.

Jozy Altidore was left unmarked to tap in from close-range for the first, then held off the challenge of Yobo to whip in a second.

“I think it was a lack of communica-

Nigeria’s Godfrey Oboabona (left) and Efe Ambrose, battling US Defender DaMarcus Beasley.

tion that led to the two goals. Because in the last two years, I have not seen us concede those kinds of goals.

“I am not the kind of player that criticises another player because everybody makes mistakes and nobody is perfect, but I think we will have to work and communicate well.”

The loss snapped an eight-game unbeaten streak for the Super Eagles, and Oboabona was naturally disappointed, but says the lessons have to be learnt.

“I’m a bit disappointed but not too disappointed because the major purpose of being here is to identify our weaknesses.

“It is better we lose today (Saturday) than get to the World Cup and lose. I think everybody has to learn from this,” Oboabona said.

“Individually, we have to fight, we have to work hard. When we lose the ball, we have to come back. We are not putting as much seriousness or commitment as we used to do before.

“But I believe from this game, from the next training, we will have to talk to ourselves so we know what we have to do.”

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Monday, June 9, 2014

Focus on Africa

3

Days To Go

Time to make Ivorians proud – Yaya

C

Cameroun team lineup

Indomitable Lions resolve bonus row

C

ameroun coach Volker Finke has rubbished reports his side were going to pull out of the World Cup in a row over bonus payments by saying they will be in Brazil in time to face Mexico on Friday.

A report in France’s L’Equipe on Sunday claimed that the Cameroun players had refused to board the plane that was due to take them to Brazil since no agreement had been reached with the Camerounian Football Associa-

tion over the level of bonuses in Brazil.

Finke says that an agreement has now been struck and the team will be flying out to Brazil on Sunday.

“It’s just one of those things that these agreements can take longer in Africa,” Finke, a former coach of Bundesliga side Freiburg, told Germany’s Sport1 television. “That agreement was struck this morning and now we can fly to Brazil.

Algeria coach optimistic over chances

A

to fly to South America.

He said, “We had a good preparation and we are ready for the World Cup,” he is quoted as saying by Le Buteur. “We had two good friendlies against Armenia and Romania, two good results that have done much good to the group, who have confidence before the start of the competition.

“The three days of rest were also a lot of good for the players.

Our mission will be difficult, but we are optimistic.”

Algeria, who have n e ve r previously reached the knockout stages of a World Cup, have been drawn in Group H alongside Belgium, Russia and South Halilhodzic Korea.

lgeria coach, Vahid Halilhodzic, has declared himself optimistic ahead of the 2014 FIFA World Cup in Brazil.

Algeria have suffered just one defeat in their last 13 fixtures, and Halilhodzic said his squad were feeling confident as they prepared

Our fans will be pleased - Cameroun will of course be participating in the World Cup. “The agreement is there and there’s no point making such a big fuss out of the whole thing. It’s really not as big as it has been made out to be in recent days.”

Cameroun beat Moldova 1-0 in their final warm-up game on Saturday. After facing Mexico, they will also come up against Croatia and Brazil in the group stage of the competition.

ote d’Ivoire midfielder Yaya Toure has said he knows how much is riding on their FIFA World Cup performance back home as the Ivorians prepare to compete in their third successive World Cup finals, even though they have yet to reach the knockout stages.

Since 1999, two civil wars have broken out in the west African nation, and Toure feels the fortunes of the national side have been instrumental in helping Ivorians in their homeland.

“For many years, football has played a big part in the lives of the people,” the Manchester City man told the Mirror.

“Life during the war was so difficult for everyone.

Conditions were bad, life was tough, and we just wanted to give our people some happiness.”

Toure said the time is now for Ivory Coast to display their potential, and also hinted his international retirement could come soon.

“We have an amazing

Asamoah puts behind 2010 heartbreak

Asamoah

G

hana midfielder, Kwadwo Asamoah, is out to forget the heartbreak of the Black Stars’ quarter-final defeat to Uruguay at the 2010 World Cup. Asamoah played in the quarter-final against Uruguay in Johannesburg in 2010 when a Luis Suarez goal-line handball, a missed penalty by team mate Asamoah

Gyan and a defeat in the subsequent penalty shoot-out denied the Black Stars the honour of becoming the first African side to reach the semi-finals.

“We’re confident that we’ll be able to give a good account of ourselves,” Asamoah told Reuters in an e-mail interview ahead of the tournament. “We’re in a tough group, there’s no denying that, but we go into the competition following a strong qualifying campaign in which we won five out of six games,” he added.

“It’s our third consecutive appearance in the World Cup finals, we hope to have a long run and we’ll be doing all we possibly can to make that happen.

“In addition, even more Ghanaians are now playing in Europe’s top five leagues – this international experience will serve us in good stead,” added The Accra-born Asamoah is already a veteran international at the age of 25, having made his debut at 17 in 2006. He now has 59 caps, scoring four times, for the Black Stars and was lauded as Ghana Player of the Year in 2012 and 2013.

squad of players and we all think it is about time we reach our full potential,” Toure said. “When I look around and see players like (Didier) Drogba, (Salomon) Kalou, (Wilfried) Bony, Gervinho and (Didier) Zokora, I can only be filled with confidence.

“Why we haven’t gone on to win a trophy is something I can’t understand. We want and we hope we make it soon because some of us haven’t got a lot of time left to be winners.

“It won’t be long until we have to step aside and let the younger generation come through.”

Toure

Black Stars get $25,000 parting gift

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hana’s preparation for the 2014 World Cup was boosted by $25,000 donation to the players by the Edusei Foundation in Miami over the weekend.

The donation was presented to the players at a ceremony by Kwame Bawuah Edusei, the President of the Edusei Foundation, an organization that supports youth empowerment.

Black Stars captain Asamoah Gyan received the cash donation on behalf of the players and expressed his gratitude to the Edusei Foundation, adding that their donation shows that all Ghanaians are interested in the progress of the Black Stars.

“We are very grateful to H.E. Edusei and his foundation for this donation. This shows that Ghanaians are very supportive of what the Black Stars do and want us to do well,” Gyan said.

SPORT 55 Transfer Updates

Monday, June 9, 2014

French Open: Nadal defeats Djokovic, grabs ninth title

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afael Nadal on Sunday wrapped up his ninth French Open title with a 3-6 7-5 6-2 6-4 victory over Novak Djokovic.

Reacting to his victory, Nadal said: “For me it’s amazing and emotional, I lost the final at Australia this year where I had a problem with my back and that was a hard moment.

Today tennis has given me back what happened in Australia. Playing at Roland Garros is unforgettable.

“Thank you to everybody who works here to make this the best tournament in the world. I’d also like to thank the fans, it’s incredible to play here and your support is unforgettable. Thanks to my team, without them it would be impossible to be where I am today. In the good

Barca to spend €41m on Turan

moments and bad moments, all the work we have done is for days like today. Many thanks and I hope to see you next year.”

Nadal was full of praises for his opponent, after the victory assuring Djokovic of winning the French Open one day.

“In matches like this every moment is crucial. All the points are so hard. Playing against Novak is always a big challenge for me. Every time I have a chance with him it’s Nadal because I played to my limit.

On his part, Djokovic said; “It was a “It’s always a pleasure to play very emotional day and I gave everything. against you Novak and congratulaThanks to the fans for all the passion and tions for all the things you are doing, emotion they have shown throughout the all the best to you and your team, I tournament. The trophy was a bit too far am sure you will win here one day,” out of reach this yea,r but I will come back he added. again and again until I win it.”

Wrestling federation picks 30 for C’wealth Games

lCamp begins today in Abuja

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he Nigeria Wrestling Federation is poised to make the 2014 Commonwealth Games holding in Glasgow in July and August the best for Nigeria, as the Federation has named 30 wrestlers for the competition. The lucky wrestlers emerged at the weekend in Warri, Delta State after the conclusion of the 2nd Chief E. K. Clark National Wrestling Championship that ended on Saturday morning.

President of the federation, Hon

(Dr) Daniel Igali, expressed satisfaction saying that his federation has assembled the best wrestlers who are ready to shake the world with an unprecedented medal haul in Glasgow. The President heaved a sigh after watching the raw talent displayed by the athletes during the trials, stressing that most of the wrestlers are African champions.

Nigeria won 10 medals in wrestling at the last Commonwealth Games in Delhi, India, but Igali disclosed that

Nigeria would double the medal haul this time noting that wrestlers like Blessing Oburududu, Soso Tamara, Adekuoroye Odunayo and some others are gold medal hopeful, insisting that Glasgow will be Nigeria’s best outing at the Commonwealth Games.

Although the Commonwealth Games organisers have yanked off Greco-Roman style from the Games, Nigeria is happy with the caliber of wrestlers going for the Free Style bouts in both male and female categories.

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arcelona will trigger Arda Turan’s €41m release clause in an effort to beat Manchester United to his signature, according to the player’s agent. Ahmet Bulut claims that Barca are in talks with Turan over a move to the Nou Camp amid interest from Monaco and United.

United have been heavily linked with the Turkish international this summer, but national newspaper Milliyet claims he is close to finalising a move to Barca.

Roma ready £16m bid for ‘New Messi’

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oma are reportedly ready to make a bid of around £16m to Hellas Verona to sign highly-rated Argentine starlet Juan Iturbe, according to SportMediaSet.it.

The 21-year-old, who has been compared with Barcelona star Lionel Messi, is attracting plenty of interest from the Premier League’s big sides as well as from European champions, Real Madrid in this summer’s transfer window.

Liverpool to pay £10m for Ayew

A

ndre Ayew is set to leave Marseille this summer and, if reports in France are to be believed, he could be heading to Anfield.

The Ghanaian winger is rated at around £10million but, with just a year left on his contract, Liverpool could land him for a cut-price fee if Brendan Rodgers decides to firm up his interest.

Ayew admitted recently he favours a switch to the Premier League and has also been linked with Manchester United, but being able to offer Champions League football puts Liverpool in pole position to secure his signature.

Sevilla to move for Romero

LagosBadmintonClassics: Nigeriansclinchdoublestitles R International Badminton Classics, defeating compatriots Tosin Atolagbe and Fatima Azeez 21-19, 22-20.

It was a similar scenario in the mixed doubles as L-R Nigeria’s Ola Fagbemi and Jinkam Ifraimu, at Nigeria’s pair of Enejoh the Lagos International Badminton Classics Abah and Tosin Atolagbe Ifeanyi Ibeh claimed the coveted title after beating South Africa’s Andries Malan and Jenigeria’s pair of Dorcas Adesokan nnifer Fry 26-24, 22-20 in the final. and Maria Buraimoh emerged The country’s duo of Jinkam Bulus winners of the women’s doubles and Ola Fagbemi however, settled for title over the weekend at the Lagos second place in the men’s double after

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losing to reigning African champions, South Africa’s pair of Andries Malan and Willem Viljoen 21-10, 22-20.

The country’s stars were however, nowhere to be found in the singles events as men’s singles number one seed, Israel’s Misha Zilberman lived up to expectations, overcoming Austria’s Luka Wraber 21-15, 21-12 to clinch the prize money of $1,830, while Italy’s Jeanie Cicognini eased to victory after she defeated Slovakia’s Martina Pepiska 21-19, 21-9 in the women’s singles final.

Danagogo doubts Eagles’ World Cup chances

Glo Premier League

Jude Opara

Nembe 2-2 Sunshine

Abuja

M

inister and Chairman of the National Sports Commission, Dr. Tamuno Danagogo, says he decided to reconsider his earlier target for the Super Eagles to win the forthcoming 2014 World Cup, after watching the international friendly match between Nigeria and Scotland last week in London.

Danagogo had said the target of the federal government was that the na-

tional team should win the Mundial; but in a chat with journalists in Abuja over the weekend, the minister said what he saw of the team in London has forced him to back-pedal on that ambition.

“Honestly I am beginning to take another look at the target of winning the trophy. I was there physically in London when they played Scotland and that is why I decided to reappraise my aspirations, and when I saw them play the way they did, I asked both the technical crew and the Nigeria Football Federation president their own impression.

Heartland 1-0 Lobi Kaduna 1-0 Warri Wolves Enyimba 0-0 Giwa Crown 2-2 Bayelsa Sharks 1-2 Akwa Utd Nasarawa 3-1 Abia Warriors Gombe 1-0 FC Taraba Pillars P-P Dolphins El-Kanemi P-P Rangers

eports in Spain say Sevilla will make an approach for Velez Sarsfield midfielder, LucasRomero,havingscoutedhimallseason.

Spanishnewspaper,Marca,saytheArgentine wouldcostintheregionof€7m, butLosRojiblancosfacecompetition from Anderlecht, Fiorentina and Lazio.

The 20-year-old has however, been on Sevilla’s radar the whole year and would provide cover for what could be a problem area in Unai Emery’s side.

Reina set for Anfield return

P

epe Reina looks set to return to Anfield after Italian side Napoli refused to meet Liverpool’s valuation of the goalkeeper.

TheSpaininternationalspentlastseason on loan at the Serie A club under former LiverpoolmanagerRafaBenitez,buttheplayer’sagent has confirmed it will be ‘difficult’ for Reina to remain in Italy.

Although Napoli are interested in making the move permanent after the 31-year-old helped them to a third place finish in the league and claim the Copa Italia, they have been unable to agree a fee with the Premier League club.

Besiktas in talks to sign Ba

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helsea are in talks with Turkish club Besiktas over the sale of striker Demba Ba. Atletico Madrid forward Diego Costa is set to complete his £32m switch to Stamford Bridge next week following a successful medical and his arrival is likely to spell the end for Ba at Chelsea.

AccordingtoreportsinTurkey,BesiktaspresidentFikretOrmanhas alreadyhelddiscussionswithChelseachiefexecutiveRonGourlayand hopes to strike a deal for the Senegalese international.

World Record

On Marble

If women didn't exist, all the money in the world would have no meaning.

Sanctity of Truth

– Aristoteles Onassis

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

Three things cannot be long hidden: the sun, the moon and the truth – Buddha MONday, JUNE 9, 2014

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On 10 January 2013, John Kiewicz at Ellington Field in Houston, Texas, USA drove a record-breaking car from 0 - 300 km/h (0-186 mph) in 13.63 seconds.

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Boko Haram and the media

NN’s Isha Sesay made a comment on the Boko Haram crisis, being the expert dispatched to Nigeria by the American television network to cover the kidnap of hundreds of female students by the terrorists. She expected Chibok, the town in which the Boko Haram atrocity took place, to be swarming with Nigerian troops. But she found none!

In her opinion, that questioned the seriousness of Nigerian authorities in the task of crushing Boko Haram. People, including sensible and rational people, swallowed her inane thinking.

John Simpson, the BBC’s World Affairs Editor and a veteran who had covered the two Gulf Wars and Bosnia Herzegovina, stood on the tarmac of the Maiduguri Airport, kept company only by the lone pigeon. He announced to the world that seeing that Nigerian authorities were going through the motions of fighting terrorism, he expected the airport to be bristling with men, material and aircraft. But there wasn’t even a soul about or a glider at the airport. Folks, including the rational and the sophisticated, bought his untenable position hook, line and sinker.

These are just two examples of how the fight against Boko Haram by the Jonathan administration is being negated by the media. Yes, Chibok is the village in which hundreds of girls were kidnapped.

But, after the reprehensible act, the kidnappers didn’t dig in, waiting for Nigerian Army troops to descend on the village and engage them in a firefight. They returned to their hideouts, presumably to the Sambisa Forest. Why did Ms. Sesay consider it the height of military tactics to have Nigerian troops embedded in every centimetre of Chibok soil? If the village wasn’t teeming with soldiers, did that mean that approaches to it were also bereft of any military formations?

Boko Haram terrorists are armed with bazookas and rocket-propelled grenades. Why should the open belly of the Maiduguri Airport be strewn with fighter-bombers and helicopter gunships? An airport could be hit by a missile launched from many kilometres away; men, material and aircraft left at an airport that is a handy target for terrorists will require hundreds of troops to provide a veneer of defence. Would these hundreds not come from the ranks of those pursuing Boko Haram in an unconventional warfare? In any case, there are Air Force bases in Kano, Kaduna, Makurdi and Zaria. From each of these bases, the theatre of Boko Haram operations is less than 20 minutes away by fighter-bombers You could excuse Ms. Sesay’s dilettantish performance as the work of a green-

Guest Columnist Chuks Iloegbunam

horn. But, you would be wrong because the sum of her reportage from Nigeria portended a script carefully crafted to see no good in the Nigerian government and to amplify every incitement and vexation from the opposition ranks. Still, you would also wonder if 69-year old Mr. Simpson’s hogwash represents the sort of stuff imparted to cadets at his country’s Sandhurst Military Academy. Over the years, Nigerians have grown into the unsubstantiated condition that any news item and every news analysis disseminated by major international networks relate to fact and truth. More often than not, however, experts from these networks clobber their unsuspecting listeners and viewers with their unadulterated biases and prejudices.

That is why Senator Khlaifa Ahmed Zannah, representing Borno Central senatorial district, abdicated his responsibilities at the National Assembly and relocated to Chibok and its environs, to daily field questions from journalists. In one of his more outrageous outings, Zannah told his expert foreign correspondents that the Federal Government was not doing anything to solve the dire terrorist situation in Borno because “their people are not among those suffering from Boko Haram attacks”!

The Vice President of Nigeria is from the north. The Defence Minister is from the north. The National Security Adviser is from the north. The Inspector-General of Police is from the north. The Commander of the Army Division operating in the Borno area is from the north. The forces fighting and dying to rout Boko Haram come from all parts of the country. Yet Zannah mouthed his obscenity. Yet, again, no media outlet, foreign or local, bothered to subject him to critical interrogation.

We could mourn and writhe in pain on account of the disservice the foreign media is doing to Nigeria. But, the local media is, in fact, guiltier. Any content analysis of local media reports on the Boko Haram terrorism will inevitably throw up the conclusion that our media outfits are propagating the ideals of the criminal sect. It is as if Nigeria is involved in a soccer encounter against Cameroon, say, and our media take Boko Haram to be the Super Eagles while our dear country is on the opposite side, represented by the Indomitable Lions! Any belch, any fart, any sneeze from the terror-

ists’ leader gets front page treatment, with a banner headline at 96 points.

Why should a newspaper cast these headlines? 1) Bomb blast in Abuja and 2) Another bomb blast in Abuja. Aren’t the following better? 1) Terrorists murder workers and 2) Terrorist slaughter workers again. The point here is that the terrorists are mass murderers. Any report that does not cast them in this light is a blow against Nigerian interests. What are we doing with a demented terrorist leader regularly talking at Nigerians on television when there is something called “voiceover”? Why should Nigerians be subjected to the interminable leering of child abductors?

There is worse. Recently, a Lagos-based TV station broadcast for over 24 hours the interview of a man who claimed that soldiers stormed their village, sought out all Fulani people in it and shot them coldbloodedly at point-blank range. This airing of that incendiary clip represents the epitome of poor judgment. In a country where military uniforms and AK47s are three for a kobo, where is the certainty that the despicable act being broadcast was actually committed by officers and men of the Nigerian Army? What effect did the TV station expect the airing of that highly offensive footage to have? The massacre of Igbo members of the National Youth Service Corps (NYSC) posted to Bauchi in 2011 was said to have been ignited by inciting text messages sent by politicians smarting from Jonathan’s victory at the presidential ballot, who claimed that northerners were being killed in large numbers in the south.

To demonstrate that it was all lies what the interviewee said, no one showed the graves where the “killed” Fulani were buried. Or did they all ascend to heaven? The mortuaries didn’t throw up their corpses.

No report was filed with either the Federal or state government on the fiction. No instant widows, widowers or orphans have been produced from the village where the massacre was claimed to have occurred.

No one appeared who claimed that he miraculously escaped the murderous “onslaught”. But a Lagos-based TV station aired this treasonous item…

Then there is the social media. Before the social media, it took some time and considerable effort to air one’s views on radio, television and the print media. To-

day, instant journalists have been made of all owners of mobile telephones and laptops. Because, like pornography, instant media enjoys the triple A’s of Affordability, Anonymity and Availability, their impact, for ill or for good, on nations and peoples are beyond computation. That’s why they got Amnesty International, of all organizations, to go advertising the fairy tale that the Nigerian military had hours of warning before the Chibok kidnapping but failed to lift a finger.

By what means was the Nigerian military warned of the impending Chibok kidnapping? By phone calls or through text messages? Or by emails? The world knows that phone calls, text messages and emails are permanently on the hard disks of the service providers, even if the senders/receivers deleted the records in their devices. Why has Amnesty International not shown the repeated means by which the military was forewarned? Why has no man or woman come forth to say he personally contacted Officer Y of Officer Z before Boko Haram struck in Chibok?

Yet, the media went to town, or rather, to the world with the sensational accusation.

We must end with a warning. Those propagating media rascality over the Boko Haram blight should not forget that there are penalties to be paid for bad behavior everywhere. Those Nigerians propagating nonsense and incitement need to be reminded that, as Cervantes said centuries ago, “A man may build himself a throne of bayonets, but he cannot sit on it.”

• Iloegbunam is the author of Ironside, the biography of General Aguiyi-Ironsi.

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