Binder1 may 5, 2014 by Newtelegraphonline

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Monday, May 5, 2014 Vol. 1 No. 76

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2015: 500 politicians to watch World Economic Forum: IG orders massive security in Abuja

Chime, Nnamani, Ekweremadu, A others test } 13-16 might in Enugu

Simeon Ogoegbulem and Emmanuel Onani s part of measures to ensure a hitch-free World Economic Forum (WEF) for Africa holding in Abuja between May 7 and 9, the Inspector General of Police (IGP),

Mohammed Abubakar, has ordered a massive security cordon within and around the Federal Capital Territory (FCT). Already, the Federal Government, has declared May 7, 8 and 9 as public holidays, to decongest the centre.

Police field commanders are expected to coordinate the operations, with special attention on vulnerable places such as hotels, entry and exit points, as well as the Nnamdi Azikiwe International Airport. The IGP’s order, con-

tained in a statement signed by the Force Public Relations Officer (FPRO), Frank Mba, reads in part: “In line with presidential directive and the desire of the country to host a hitch-free and peaceful CONTINUED ON PAGE 5

Chibok: Identities of 180 abducted girls revealed

Pages } 2

List of MISSING STUDENTs

L-R: Principal, Government Girls’ Secondary School, Chibok, Borno State, Mrs Asabe Kwabura; Director General, State Security Services, Mr. Ita Ekpenyong; Inspector General of Police, Mohammed Abubakar and Chief of Army Staff, Lt. General Kenneth Minimah, after a meeting with President Goodluck Jonathan at the Presidential Villa, Abuja…at the weekend. Photo: Timothy Ikuomenisan

1. Deborah Abge Chrstian 2. Awa Abge 3. Hauwa Yirma 4. Asabe Manu 5. Mwa Malam pogu 6. Patiant Dzakwa 7. Saraya Mal Stover 8. Mary Dauda 9. Gloria Mainta 10. Hanatu Ishaku 11. Gloria Dama 12. Tabitha Pogu 13. Maifa Dama 14. Ruth kollo 15. Esther Usman 16. Awa James 17. Anthonia Yahonna 18. Kume Mutah 19. Aisha Ezekial 20. Nguba Buba 21. Kwanta Simon 22. Kummai Aboku 23. Esther Markus 24. Hana Stephen. 25. Rifkatu Amos 26. Rebecca Mallum 27. Blessing Abana.

28. Ladi Wadai 29. Tabitha Hyelampa 30. Ruth Ngladar 31. Safiya Abdu 32. Na’omi Yahonna 33. Solomi Titus 34. Rhoda John 35. Rebecca Kabu 36. Christy Yahi. 37. Rebecca Luka. 38. Laraba John 39. Saratu Markus. 40. Mary Usman. 41. Debora Yahonna. 42. Naomi Zakaria 43 Hanatu Musa 44. Hauwa Tella 45. Juliana Yakubu. 46. Suzana Yakubu 47. Saraya Paul. 48. Jummai Paul 49. Mary Sule 50. Jummai John. 51. Yanke Shittima. 52. Muli Waligam . 53. Fatima Tabji. 54. Eli Joseph. 55. Saratu

Emmanuel. 56. Deborah Peter. 57. Rahila Bitrus. 58. Luggwa Sanda. 59. Kauna Lalai. 60. Lydia Emmar. 61. Laraba Maman. 62. Hauwa Isuwa. 63. Confort Habila. 64. Hauwa Abdu. 65. Hauwa Balti. 66. Yana Joshua. 67. Laraba Paul. 68. Saraya Amos. 69. Glory Yaga. 70. Na’omi Bitrus. 71. Godiya Bitrus. 72. Awa Bitrus. 73. Na’omi Luka. 74. Maryamu Lawan. 75. Tabitha Silas. 76. Mary Yahona. 77. Ladi Joel. 78. Rejoice Sanki. 79. Luggwa Samuel. 80. Comfort Amos. 81. Saraya Samuel. CONTD ON PAGE 1

Jonathan considers extension of emergency rule in Adamawa, Borno, Yobe Etaghene Edirin, Temitope Ogunbanke and Wale Elegbede

he Federal Government has begun consultations with a view to determining whether or not to extend the state of emergency rule imposed on Adamawa, Borno and Yobe States in May last year.

The emergency rule, which was renewed for another six-month period last November by the National Assembly following a request by President Goodluck Jonathan, is to elapse this month. However, there has been agitation against a renewal, for another period of six months, by governors of the affected states and some other

Justice Oputa dies at 96 p.8

critical stakeholders in the north. But the president, while fielding questions yesterday during the presidential media chat, defended the imposition of the emergency rule on the three states wracked by insurgency. Jonathan also responded to various questions on the state of the nation, especially on the abduc-

tion of over 200 schoolgirls from Government Girls’ Secondary School, Chibok, Borno State, the issue corruption, the upcoming World Economic Forum and whether or not he would seek a second term in 2015. On the emergency rule, Jonathan hinted on the possibility of extending it, saying that his administration is consulting

Aviation unions set for strike p.5

across board on the issue. The president, while justifying the need for a state of emergency in the three states, said the governors opposed to the

INSIDE

News . . . . . . . . . . . . . . 2 Metro. . . . . . . . . . . . . 12 Politics. . . . . . . . . . . . 13 Opinions . . . . . . . . . 20 Investigation . . . . . . 21 Business . . . . . . . . . . 25 Entrepreneur . . . . . . 41 Sport . . . . . . . . . . . . . 51

extension of the rule were not being realistic, adding that they were only expressing their frustration. C O N T I N U E D O N PA G E 2

LAGOS

Storm

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Monday, May 5, 2014

List of MISSING STUDENTs 82. Sicker Abdul. 83. Talata Daniel. 84. Rejoice Musa. 85. Deborah Abari. 86. Salomi Pogu. 87. Mary Amor. 88. Ruth Joshua. 89. Esther John. 90. Esther Ayuba 91. Maryamu Yakubu 91. Zara Ishaku 93. Maryamu Wavi 94. Lydia Habila 95. Laraba Yahonna 96. Na’omi Bitrus. 97. Rahila Yahanna 98. Ruth Lawan 99. Ladi Paul 100. Mary Paul 101. Esther Joshua 102. Helen Musa 103. Margret Watsai 104. Deborah Jafaru 105. Filo Dauda 106. Febi Haruna 107. Ruth Ishaku 108. Racheal Nkeki 109. Rifkatu Soloman 110. Mairama yahaya 111. Saratu Dauda 112. Jinkai Yama 113. Margret Shettima 114. Yana yidau 115. Grace Paul 116. Amina Ali 117. Palmata Musa 118. Awagana Musa 119. Pindar Nuhu 120. Yana Pogu 121. Saraya Musa 122. Hauwa Joseph 123. Hauwa Kwakwi 125. Hauwa Musa 126. Maryamu Musa 127. Maimuna Usman 128. Rebeca Joseph 129. Liyatu Habitu 130. Rifkatu Yakubu 131. Naomi Philimon

132. 133. 134. 135. 136. 137. 138. 139. 140. 141. 142. 143. 144. 145. 146. 147. 148. 149. 150. 151. 152. 153. 154. 155. 156. 157. 158. 159. 160. 162. 163. 164. 165. 166. 167. 168. 169. 170. 171 . 172. 173. 174. 175. 176. 177. 178. 179. 180.

Deborah Abbas Ladi Ibrahim Asabe Ali Maryamu Bulama Ruth Amos Mary Ali Abigail Bukar Deborah Amos Saraya Yanga Kauna Luka Christiana Bitrus Yana Bukar Hauwa peter Hadiza Yakubu Lydia Simon Ruth Bitrus Mary Yakubu Lugwa Mutah Muwa Daniel Hanatu Nuhu Monica Enoch Margret Yama Docas Yakubu Rhoda peter Rifkatu Galang Saratu Ayuba Naomi Adamu Hauwa Ishaya Rahap Ibrahim Deborah Soloman Hauwa Mutah Hauwa Takai Serah Samuel Aishatu Musa Aishatu Grema Hauwa Nkeki Hamsatu Abubakar Mairama Abubakar Hauwa Wule Ihyi Abdu Hasana Adamu. Rakiya Kwamtah Halima Gamba Aisha Lawan Kabu Malla Yayi Abana Falta Lawan Kwadugu Manu

Identities of 180 abducted girls revealed

lJonathan pledges speedy rescue of abductees Onwuka Nzeshi, Ibraheem Musa, Anule Emmanuel and Ummal-Fadal Babagirei

he Northern States Christian Elders’ Forum (NOSCEF), an affiliate of the Christian Association of Nigeria (CAN), yesterday released the names of 180 schoolgirls believed to be still missing after members of the outlawed Boko Haram sect invaded Government Girls’ Secondary School (GGSS), Chibok, in Borno State and kidnapped over 200 pupils. The forum also demanded N50 million as compensation to each of the abductees just as President Goodluck Jonathan intensified efforts to ensure that the schoolgirls are reunited with their families. Jonathan, who on Friday met with security chiefs over the reign of terror in the country, especially the second bomb attack on Nyanya, a suburb of the Federal Capital Territory (FCT), followed up with another meeting on Saturday night with the Borno State Governor, Alhaji Kashim Shettima and the Principal of GGSS, Chibok, Mrs. Asabe Kwabura. He reiterated his directive to security agencies to speedily

rescue the pupils, who have been in captivity for three weeks. Releasing the list of the 180 pupils who are yet to be accounted for, former Chairman, NOSCEF, Evangelist Matthew Owojaiye, expressed regrets that the insurgents chose to invade Chibok, a predominantly Christian town, to perpetrate their atrocity. He called on the Christendom to pray fervently for the release of the schoolgirls. “Chibok Local Government is 90 per cent Christians. Majority of the girls abducted are Christians! Why did Boko Haram visit Chibok Local Government? Why didn’t they visit so many other Government Girls’ Secondary Schools in Borno State? “The military may not be able to solve the problem but prayer will. Ordinary military force may not get them out! Intensive agonising prayer will do so. The church in Nigeria is hereby called to a lamentation prayer. Every Christian home must raise a lamentation to heaven daily. Let God arise and defend his name, honour and majesty. Let a 15-minute cry to heaven be done in every church every time they gather,”

Owojaiye said. He explained that the Federal Government, whose duty it is to protect the pupils, must after they had been rescued, not only pay the N50 million compensation to each of them but must make adequate arrangements to give all of them scholarship to study in any university abroad. In addition, he said all SS1 and SS2 female pupils in GGSS, Chibok, must be transferred to schools of their choice and sponsored by the government because none of them would feel safe again in that school after their ordeal. Owojaiye in an interview with New Telegraph confirmed being the author of the list of the abducted schoolgirls. Speaking to our correspondent on phone yesterday, Owojaiye said that the list was by no means comprehensive but that “this is what I have.” When asked to name his source of information, he blurted out to our reporter, “what is your business?” However, at a meeting on Saturday night with Shettima, security chiefs and CONTINUED ON PAGE 4

TODAY’S WEATHER FORECAST ABUJA

32oC 26oC Storm

PORT HARCOURT

30o C 23oC Storm

KANO

33oC 23oC Storm

ENUGU

33o C 24oC Storm

IBADAN

33oC 22oC Storm

CALABAR

23o C 12oC Sunny

MAIDUGURI

36oC 26oC Partially Cloudy

ONITSHA

33oC 24oC Storm

L-R: Chief Executive Officer, Oando Exploration and Production Ltd, Mr. Pade Durotoye; Group Managing Director, UBA Plc, Mr. Phillips Oduoza; Senior Adviser, Dalberg Consulting, Mr. Jonathan Berman; Chairman, De Beers Consolidated Mines, South Africa, Barend Petersen and Chairman, Citadel Capital, Egypt, Mr. Ahmed Heikal, at the Milken Institute Global Conference on Pan African Business, in Los Angeles, United States recently.

Police foil suicide bombing in Yobe

he Police said yesterday that they had foiled an attempt by a suicide bomber operating in a pick-up van laden with Improvised Explosive Devices (IEDs) to explode them in Damaturu, the Yobe State capital. This is contained in a statement issued in Abuja by Maj.-Gen. Chris Olukolade, Director of Defence Information and Coordinator of Joint Information Centre, Counter Ter-

rorism Campaign. According to the statement, “the target was the `A’ Division Police Command situated by the main round about in the heart of the town. “The attempt was, however, foiled as the culprit was arrested by police personnel on duty. “Six turbine containers loaded with explosives, 20 litres of petrol and 11 bags of bean chaff were recovered from the scene,” the

statement said. It added that the police and the bomb squad had defused the IEDs. Earlier, the Commissioner of Police in the state, Alhaji Sanusi Rufai, said a 19-year-old Abubakar Umar, driving a Chevrolet pickup van, attempted to ram into the police station. Rufai said policemen on duty halted the suspected bomber who made an escape bid by abandon-

ing the vehicle but was arrested. The commissioner said that the policemen fired warning shots before apprehending the suspect. “Five gas cylinders, 20 litres of A.G.O., 10 litres of PMS, fire extinguishers loaded with explosives, five battery chargers and a wall clock were recovered from the vehicle. “The police anti-bomb squad defused the explosives, evacuated the materials and ensured safety of the area,” Rufai said.

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 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

CONTINUED FROM PAGE 2

the Inspector General of Police (IG), Mohammed Abubakar, and other critical stakeholders to discuss how to rescue the abductees, Jonathan ordered the security agencies to spare no efforts in bringing back the pupils safely. Special Adviser on Media and Publicity to the president, Dr. Reuben Abati, told State House correspondents after the meeting, which began at 9p.m. and lasted four hours, that the gathering was a follow-up to that of Friday, which saw the setting up of a presidential fact-finding committee on the abducted students. The meeting was also attended by Vice-President Namadi Sambo, all the service chiefs and the Secretary to the Government of the Federation (SGF). “This meeting is a follow-up to the meeting the president had yesterday (Friday) and a further determination, commitment to make sure that the girls who were abducted from Chibok are brought back to safety; that no stone is left unturned to ensure that this is achieved and that there is complete cooperation at all levels – federal, state, local government, community – and that other stakeholders are mobilised at all levels to ensure that these girls are brought back to safety. “As you can see, all the security chiefs attended this meeting and the president has given very clear directives that everything must be done to ensure that these girls are brought back to safety,” he added. According to Abati, “This is the first time the president will be meeting with some of the key

Monday, May 5, 2014

Jonathan insists on speedy rescue of abductees persons involved like the principal of the school. Before now, the president and the governor of the state have been meeting regularly and have been discussing. “Yes, a lot of information was given, but you should know that this is also a security meeting. At this stage, with all the efforts of the Federal Government, not every detail can be put in the public domain, particularly as there has been indications that those responsible for the abduction have been issuing all kinds of

threats. “You know that security operation will not require every detail to be put in public domain. What is clear is the determination, the commitment and the resolve of the president personally and of the government to ensure that these girls are brought to safety.” On the exact number of girls abducted, the presidential spokesman said he was not ready to go into that to avoid complicating the issue. “You know what the is-

sue of numbers has been. And I don’t think the issue is about numbers, even if it is one person, the safety of every Nigerian is important. The security of every Nigerian, be they girls or boys, be they students or workers, that is the commitment of the Federal Government to ensure that they are brought back to safety,” he added. Meanwhile, Canada has condemned the mass kidnapping of the schoolgirls and described the incident as a repugnant

act that should be condemned by the world. Canada’s Foreign Affairs Minister, John Baird, in a statement yesterday, said: “Canada condemns in the strongest terms the kidnapping of Nigerian schoolgirls, along with other terrorist acts committed against unarmed civilians, by Boko Haram. These acts are absolutely repugnant and will never be tolerated. “We are concerned about the safety and well-being of these girls,

including recent reports that suggest they may be forced into marriage by Boko Haram. Canada has made it a priority to promote the human rights of women and girls worldwide, including working with the international community to end the practice of child, early and forced marriage. “We will continue to closely monitor the situation and work with Nigeria to combat terrorism and secure the welfare of its children and youth.”

L-R: Governors Theodore Orji of Abia, Martin Elechi of Ebonyi and Sullivan Chime of Enugu with Deputy Governors Eze Madumere of Imo and Nkem Okeke of Anambra after a meeting of the South-East Governors’ Forum in Enugu …yesterday.

$US174bn The nominal GDP of Algeria (IMF) in 2009. Source: Blatantworld.com

0.64

The number of fixed-telephone subscriptions per 100 inhabitants of Bangladesh in 2011. Source: Itu.int

4.12m

The total number of internet users in Hong Kong in 2008. Source: Blatantworld.com

PDP won’t name presidential candidate before APC, says president CONTINUED FROM PAGE 1

According to him, the state of emergency declared in the states has been effective as it has given security personnel some leverage in prosecuting the anti-terror campaign in the affected states and minimised legal challenges that might have stymied the efforts to defeat terror in the North-East. The president, who noted that the activities of terrorists are making the nation to go through a trying time, also accused some Nigerians of playing politics with national issues, stressing that Nigeria is receiving an unfair share of terror owing to her high population of black people in the world. He also assured Nigerians that his administration is striving hard to ensure the rescue of the schoolgirls and expressed delight that no report

has indicated that any of them has been hurt, injured or dead. While calling for the cooperation of parents and guardians of the abducted girls, the president said government and the security agencies would need the photographs of the pupils to help in the attempts to find them . He also disclosed that Nigeria was discussing with the United States, France, China and other countries to help tackle terrorism in Nigeria. “The Nigeria Government is ready and willing to do everything to ensure that this act of insurgency is brought to an end. What we request is the maximum cooperation of the parents of these girls. We are pleading that they should cooperate with us by releasing the identities of these girls,” he said. On the possibility of

the Federal Government negotiating with the suspected abductors, the president said this had not been possible because no group had taken responsibility for the kidnap. The president, however, expressed sadness over the conflicting number of the schoolgirls kidnapped. Responding to a question on whether the security personnel were capable of fighting the insurgency, he said they were equipped to do so but added that there was need to increase their capacity. On his political future, the president said the issue of whether or not he would run should not be a problem to Nigerians, adding that what is paramount to him is the issue of governance. He however said the ruling Peoples Democratic Party (PDP) would

not name its presidential candidate for the 2015 election until the All Progressives Congress (APC) had named its. “PDP is not in a hurry to name its presidential candidate when APC has not done so. Remember that PDP is still the champion,” he added. He also clarified government’s position on the shutting down of Abuja for the World Economic Forum, saying what his administration has ordered was for the closure of public offices and public schools for the period of the forum. He also advised private establishments to shut down for the three days, when the forum will hold, to allow for a free flow of traffic in the city, but noted that those on essential services would still be on duty. On insinuations that government may increase

fuel pump price soon, the president said he would not hesitate to do so if the need arose. But for now, he has no plans to increase pump price. “I cannot increase pump price through the backdoor. If I want to do it, I will do it. But for now, I have no plan to increase fuel price,” the president added. On the legitimacy of the ongoing National Conference, the president said the conference was legitimate, stressing that the key thing is how to work with the National Assembly to make the best use of the outcome of the exercise. Reacting to a tweet, President Jonathan denied saying that the Boko Haram was in his cabinet. According to him, what he said was that the sect had sympathisers within the government.

The president expressed disappointment on the progress so far on the power reforms, stating that the country will not retrogress to the days of producing just 2,000 MW of electricity. On claims that the presidency has not been decisive enough in dealing with allegations of corruptions against some members of his cabinet, the president stated that he was not trying to shield anyone, but would act if there was a genuine case of corruption against any cabinet member. Speaking on the ongoing probe by the National Assembly on the allegations that Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, spent N10 billion on chartered jets, the president stated that the ministry has always maintained a jet for use by its top official due to the nature of their job.

Monday, May 5, 2014

Merger bid: Aviation unions set for strike Wednesday

lNCAA, CPC at loggerheads over sanction on Aero Wole Shadare

f they make good their threat, Nigeria’s aviation industry may be grounded by Wednesday as workers begin a two-day warning strike to protest the bid by the Federal Government to merge three agencies in the sector. The Federal Government, in a White Paper issued on the Steve Oronsaye committee report, had accepted the recommendation to merge the Nigerian Civil Aviation Authority (NCAA), the Nigerian Airspace Management Agency (NAMA)

and the Nigerian Meteorological Agency (NIMET) to form the Federal CivilAviation Authority. The workers have kicked against the proposal and have written the National Assembly, the Presidency and the National Security Adviser, Col Sambo Dasuki (rtd), over the planned strike and given reasons government must rethink its decision. As the aviation workers get ready for the strike, NCAA has engaged in a turf war with the Consumer Protection Council (CPC) for imposing sanctions on Aero Contractor, for violating passengers’

NiMet forecasts storms in Kogi, Benue, FCT he Nigerian MeteoTMet) rological Agency (Nihas said cloudy

conditions would be experienced today, with prospects of localised thunderstorms over high grounds of central states of Kogi, Benue and Federal Capital Territory. A report issued yesterday in Abuja by NiMet’s Central Forecast Office (CFO) contained the weather forecast and outlook for Monday, May 5. It said Jos, Kaduna

and Mambila were expected to have thunderous activities in afternoon and evening. The report also stated that “northern states will experience partly cloudy conditions over the entire region throughout the forecast period. “The southern coastal areas will experience cloudy conditions with chances of continuous rains over the coaster cities throughout the forecast period.”

rights. But the agency considered the CPC’s action an ‘encroachment’ on its statutory functions. And worried by the spate of delays, flight cancellations, among Nigerian airlines, the NCAA has invited the management of Arik Air to meeting over the delay of more than 14 hours of Flight W3 077 (FNA/BJL). Unions in the aviation industry – Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Union of Air Transport Employees (NUATE) and National Association of Aircraft Pilot and Engineers (NAAPE) – have begun preparations for the strike, by mobilising their members to stay at home during the period. Meanwhile, the NCAA has carpeted the CPC for penalising Aero Contractors for violating passen-

gers’ rights, alleging intermittent encroachment into matters within NCAA’s regulatory purview. It described CPC’s actions as not only illegal, but also capable of scaring off investors. The aviation regulatory body however notified the International Air Transport Association (IATA), other aviation and allied service providers and aviation service consumers, that it is the only one legally empowered to regulate civil aviation in Nigeria, including protection of the interests of aggrieved aviation consumers. It vowed to explore all avenues of intergovernmental relations to ensure a discontinuation of what it described as unlawful intrusion into its regulatory purview by any other body. The NCAA has also taken steps to protect air passengers, especially over the delay in their flights as it invited the management

of Arik Air to a meeting over a 14-hour holdup of its Flight W3 077 (FNA/ BJL). The NCAA said the meeting was consequent upon several complaints received by the Directorate of Consumer Protection (DCP) of the NCAA from passengers who were scheduled for Arik Air’s combined service to Freetown and Banjul on May 2. According to the NCAA, “The flight scheduled for 8.00hrs was delayed till 10:00hrs but was later rescheduled to 12:00hrs.The departure was again moved to 15:00hrs with verbal notification from the airline officials. At 15:00hrs, there was an announcement that the flight had been further delayed for one hour ‘due to operational reasons.’ At 16:00hrs, the anxious passengers were once again informed of a further delay to 21:35hrs. “At this stage, NCAA’s Consumer Protection officers who were on hand to intervene and caused the airline to serve the passengers light refreshment at 18:07hrs. “When it became clear that the flight would not

depart at 21:35hrs, the passengers who had become enraged took over the boarding gates, thereby preventing the commencement of boarding of another Arik Air service Flight W3 103 to Johannesburg.” NCAA’ s CPD officers were said to have had a hard time restoring order before Flight W3 077 (FNA/BJL) eventually departed at 23:46hrs. Another Arik Flight W3 792 scheduled service from Ibadan to Abuja was similarly delayed at Ibadan Airport on May 3. The flight was to depart at 3:15pm but did not leave until 6:25pm. Although Arik Air officials said passengers were duly inform of the rescheduled departure time of the flight, they disputed. NCAA has therefore summoned the management of Arik Air to explain the circumstances that led to the delay. It would also determine whether the airline complied with the requirements of the Nigerian Civil Aviation Regulations (NCARs) in the treatment of the passengers on these flights.

Institute concludes research on bad roads

he Nigerian Building Tstituteyesterday and Road Research Insaid it

had undertaken a study on the frequent deterioration of roads in the country. Prof. Danladi Matawal, Director-General of the institute said in an interview with the News Agency of Nigeria (NAN) in Abuja that

CONTINUED FROM PAGE 1

World Economic Forum on Africa, the InspectorGeneral of Police, IGP MD Abubakar, has ordered a massive security cordon around the FCT and its environs. “In a detailed Operational Order released this morning, May 4, 2014, at the Force Headquarters Abuja, the IGP ordered the immediate deployment of men and relevant security equipment to Abuja and the satellite towns around it so as to ensure a safe, secure and conducive atmosphere before, during and after the World Economic Forum.

the research was funded by the Samuel Olatunde Fadahunsi Foundation. He said N6.8 million was received from the foundation for the project, which also entailed designing and fabricating an interlocking block making machine and developing ceiling boards using pulp and sawdust.

L-R: Interim National Chairman, All Progressives Congress (APC), Chief Bisi Akande; Chairman, BusinessWorld Newspaper, Mr Daisi Omidiji; Osun State Governor, Rauf Aregbesola; his wife, Sherifat; Speaker, Osun State House of Assembly, Najeem Salam, and guest speaker, Prof. Pat Utomi, during the presentation of the newspaper’s award to Aregbesola in Ilesa, Osun State …at the weekend.

Abuja set for World Economic Forum “The IGP directed Police field commanders to step up tight security measures in all strategic locations and vulnerable points and further strengthen security at entry and exit points of FCT, Airports and Highways as well as City roads, Hotels and the Conference venue. “Calling on the cooperation of all towards this important event, the IGP assured the conference participants, the citizenry as well as members of the international

community of adequate security, stressing that the Nigeria Police Force and other security agencies have already put in place effective security measures for their safety and comfort. “The IGP further charged the citizens to show understanding and continue to cooperate with the Police and all security agencies in the ongoing special security operations.” Already, Abuja is agog as government puts finishing touches to ar-

rangements for the hosting of the WEF for Africa. This is the first time Nigeria will be hosting the high-profile event that draws key economic players from across the globe. About 11 African Heads of State and Government have confirmed their participation at the event scheduled to open at the Transcorp Hilton Hotel, Abuja. President Goodluck Jonathan and Premier Li Keqiang of China are also expected at the three-day event opening on Wednes-

day. Security has been tightened in the capital city of Abuja especially around the City Centre with restrictions in movement expected to come into force early Wednesday. As part of measures to ensure adequate security of delegates to the WEF and residents, government at the weekend announced the closure of all government office and advised private sector operators with sizable workforce to also follow suit.

At the Transcorp Hilton, workers were seen putting finishing touches to some renovation works including the renovation of the VIP car park with all cars evacuated from the park. In addition to the renovated VIP car park, the hotel embarked on the construction of a new car park for the visiting heads of state and other important dignitaries expected at the conference. Access to the major hotels in the city has been restricted as people with no clear business at those hotels are politely turned back.

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Fayose visits Ewi, promises better deal for Ado-Ekiti Adesina Wahab

Ado-Ekiti

he governorship candidate of the Peoples Democratic Party (PDP) in June 21 election in Ekiti State, Mr. Ayo Fayose, at the weekend, paid a visit to the Ewi of Ado-Ekiti, promising more goodies for the state capital. He also used the occasion to debunk the insinuation that he had any ill-feeling against the Ewi, Oba Rufus Adejugbe, saying his regard for the traditional institution remaining high. The PDP candidate said;

“I urge you, Kabiyesi, to forgive and forget the past, so that tomorrow can come. I will accord you the desired respect and recognition if you offer me another chance. It is my detractors that stood between me and your royal majesty.” Fayose recalled what he did at transforming Ado town when he was governor, promising to do more for the state capital, if he becomes governor. In his response, Oba Adejugbe said the relationship between him and Fayose was cordial and perfect. The Ewi said neither him nor Ado people was against Fayose.

‘Imported’ politician not good to lead Ekiti – Accord Party Adesina Wahab

Ado-Ekiti

he governorship candidate of Accord Party in the June 21 election in Ekiti State, Mr. Kole Ajayi, has said only home bred politicians are good to lead the state, as they are conversant with the problems confronting the people. He also said that the idea of ‘importing’ politicians to come and lead the state is a disservice to its growth. He said this at the weekend while featuring on a programme on a local television station in Ado-Ekiti. He advised the people of the state to elect

a home-based politician to lead the state come June. He said only a candidate that is based at home, who understands the terrain and the challenges confronting the people, was best suited for Ekiti governorship seat in view of the colossal damage those he described as 'imported'politicianshaddoneto the economy of the state. Ajayi, a lawyer and publisher, described himself as a home-based politician, who had an in depth understanding of the economic, social and political dynamism of the state to be able to transform the lives of people, whoseconditionshesaidhad beenworsenedby elected officials.

Fayemi faults poll on Ekiti election Adesina Wahab

Ado-Ekiti

he Kayode Fayemi Campaign Organisation yesterday faulted the result of a public opinion poll conducted on the June 21 governorship election in the state, which put the Peoples Democratic Party (PDP) candidate, Mr. Ayo Fayose, ahead of other candidates. In a statement in Ado-

Ekiti by the Head of Media, Mr. Dimeji Daniels, the group said the poll was skewed to favour the PDP candidate. "The attention of the John Kayode Fayemi (JKF) Campaign Organisation has been drawn to the result of a poll purportedly conducted to test the opinions of Ekiti people in the run-up to the June 21 governorship elections.

L-R: Ekiti State governor, Dr. Kayode Fayemi; Pope Francis and Prefect, Pontifical Household, Archbishop Georg Ganswein, during the Canonisation of Pope John Paul II and Pope John XXIII, in Rome... yesterday

75.17%

The percentage of individuals using the internet in Austria in 2010. Source: Itu.int

324.1

The number of journalist per 1m inhabitants of Lebanon in 2005. Source: Blatantworld.com

1.285m

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

Oni confused over plan to move to APC – Investigation POLITICAL BRIDE

Former governor at a Cross Roads on which way to go as pressure mounts Adesina Wahab Ado-Ekiti

or mer Ekiti State gover nor, Olusegun Oni, was at the weekend, in a dilemma over pressure on him to defect from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), investigations by New Telegraph has has revealed. It was gathered that while some top shots in the APC are mounting pressure on Oni to dump the PDP for the APC, leaders of the PDP are not relenting in their efforts at retaining him in the PDP. However, reports said the main reason Oni was

hesitant about moving to the APC was that if he moved, he would do that with more than 80 percent of his loyalists not following him. Prior to the emergence of former Governor Ayo Fayose as the PDP candidate in the June 21, governorship election, a number of Oni’s loyalists in the Segun Oni Campaign Organisation (SOCO) also struggled for the ticket and they shared members of SOCO among themselves. They included Prince Dayo Adeyeye, Chief Bisi Omoyeni, Ambassador Dare Bejide and Hon. Tunji Odeyemi. Another group, led by Mr. Akin Omole, who contested the post of state chairman of the PDP with the incumbent, Mr. Makanjuola Ogundipe, in March 2012, left the party for the Labour Party (LP). However, majority of the aspirants are staying put in the PDP as the disagreement that followed

the primary election of the PDP has been resolved. Also, Dr. Sikiru Tae Lawal, who was Oni’s deputy, few weeks ago, openly said he and his supporters would not leave the PDP. A loyalist of Oni, who craved anonymity, said if Oni should leave the PDP, he would only be taking a stroll. “When you are a leader and you are going with nobody following you, you are not leading anybody again, but taking a stroll. “It is obvious that more than 90 per cent of SOCO members are in the PDP and committing themselves to its success. Governor Oni should know that APC people only want to use him. These are people who called him electoral thief, saying his tenure never existed in the face of law and even removed his portrait from those of former governors in the state. “Now, he has become their brother, a former

governor and is no longer a thief. Governor Oni has the right to join any party, but he must remember how APC people used Fayose during re-run polls and later dumped him,” he said. But a source in the APC said the party is not trying to woo Oni by deceit and that if he joins APC now some of his loyalists in PDP would follow him. It will be recalled that the relationship between Oni and Fayose has been frosty since the re-run election during Oni’s tenure that eventually led to the removal of Oni by the court for the incumbent, Dr. Kayode Fayemi. Fayose then teamed up with Fayemi. While the speculation of Oni joining PDP is rife, another possibility is that he may remain neutral, not joining APC, but not working for the PDP as well. He may do that just like his godfather, former President Olusegun Obasanjo, is doing now.

2, 000 defectors join Labour Party in Ekiti

Campaign of hatred against Fayose’ll fail – PDP chieftain

Adesina Wahab

he aspiration of Hon. Opeyemi Bamidele, the Labour Party candidate in the June 2014 governorship election in Ekiti State, received a boost at the weekend, when over 2, 000 members of opposition parties in the state declared for the Labour Party. The defectors, who officially joined the Labour Party at a ceremony at the party’s secretariat in Ado-Ekiti on Saturday, were members of the

now defunct All Nigeria Peoples Party (ANPP) and members of different groups in the All Progressives Congress (APC) and the Peoples Democratic Party (PDP). Leader of the defectors from the ANPP, Arowolo Johnson, said about 1, 200 members of the party in the state did not join the APC as part of the merger-cum-transformation to APC because they saw early signs that they would not have a voice in

the party. According to him; “There were indications at the very beginning of the merger of our former party to become APC that we would be marginalised, because there were serious complaints of same even among members of the ACN, being a principal partner in the merger and we concluded that if we really want to make an impact in the governance of our dear state, Labour Party would be the best for us.”

Ado-Ekiti

chieftain of the Peoples Democratic Party (PDP) in Ekiti State, Mr. Lati Ajijola, has said those going about embarking on campaign of calumny against the PDP governorship candidate, Mr. Ayo Fayose, are only wasting their time. He challenged the All Progressives Congress (APC) government in the state to debunk, with facts and figures, the claim by

Fayose that PDP governments developed the state better than any other governments. Ajijola, who said no amount of character assassination would save the APC from defeat in the June 21 election, added that; “From Ado-Ekiti to Mobaland, Ekiti people have made up their minds to reject the APC government and no amount of campaign of calumny against the person of Fayose will change that.” Ajijola described as “lie

from the pit of hell,” the claim by the Kayode Fayemi Campaign Organisation (KFCO) that Fayose locked the Alafao of Afao-Ekiti, Oba Joseph Ademilua, in his palace to prevent the monarch from attending to Governor Kayode Fayemi, during his campaign tour of the town. He said; “First and foremost, the liars in the APC do not even know that the Kabiyesi, Alafao does not live in the palace. He lives in his private residence.

Monday, May 5, 2014

ALL PROGRESSIVES CONGRESS OGUN STATE

PR ESS STATE M E N T

MONDAY 5TH MAY, 2014

RE: INAGURATION OF EXCO FOR OGUN STATE APC IN ALL THE 236 WARDS, LOCAL GOVERNMENT AND THE STATE EXCO

THE TRUTH OF THE MATTER

equel to the Radio and Television announcement made on Ogun Radio and Ogun State Television Stations since Friday 2nd May, 2014 and up to this present time on the inauguration of APC Exco at all levels in Ogun State on Tuesday 6th May, 2014 as made by one of the Special Assistants to the Governor of Ogun State; we heard these announcements with utmost dismay and outright disapproval.

We would have opted to ignore the false announcements whose motive is suspicious and reckless and not to dignify the shallow and disjunctive objective as there is freedom of speech and association in a democracy. However, for the fact that we do not want the generality of the populace, especially members of APC in Ogun State to be misled ahead of the pending decision of the National Headquarters on the report of Appeal Committee members sent to Ogun State in regard to the misunderstanding in Ogun State APC that led to the emergence of two (2) factions, we want to set the record straight for posterity purposes. Silence, as they say, constitutes acceptance. Therefore, to prove that the content of the announcement is misleading, malicious, devoid of historical context, ungodly and preposterous, we state as follows:1). That we disassociate ourselves from this charade as the Constitution of the party is clear on such issues and more so the National Headquarters is yet to sit on the report of Appeal Committee members that came to Ogun State on 23rd April, 2014. The result/decision is still being awaited. We therefore wonder who the announcer refers to as the National Officers that are coming to inaugurate when decision is yet to be made by them. 2). That nobody/faction has been recognized nor mandated to go ahead on inauguration as the matter is still with the National Headquarters. We therefore state clearly that it is not “TRUE” that the National Headquarters has recognized or give pass mark to any faction to do any inauguration up to this moment. If there is such a directive in anyway, it is not known to us. We also hereby challenge anybody/faction to produce the related approval letter/document from the National Headquarters to that effect to the security agencies and the generality of members to see and confirm the authenticity of such approval. 3). That we want to implore all our loyal party members to disregard such pranks as it is a play by enemies of our Great Party to destroy the foundation we are laying for a better tomorrow and a major distraction to the bigger picture. 4). That the truth shall always prevail as there is no amount of falsehood and misleading statements that will subvert the truth. 5). That State Executives and other Elected Party officers and, in-fact, the loyal party members will not want themselves to be part of this “AWADA MOVIES” as we suspect foul play. 6). That we hereby implore our teeming loyal party members to remain calm as those in high authority of our great Party will soon come out with an official final decision on the matter. 7). That we condemn in all entirety the way public funds is being deplored with reckless abandon to fund political jamborees, a behaviour not synonymous with progressives. 8). That this won’t be the first time that such anti-party activities have been perpetuated in Ogun State and we wonder why the case of Ogun is always isolated in rallies and inaugurations when the other states of the Nations are involved. Long Live APC! Long Live Ogun State!! Signed: Comrade Clement Olubayo Adeniyi APC State Publicity Secretary, Ogun State.

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Sanctity of Truth

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Ecological funds: Kwankwaso tackles Jonathan BIAS Kano governor accuses President of targeting APC states Kunle Olayeni

Abeokuta

ano State Governor, Alhaji Rabiu Musa Kwankwaso, yesterday accused the President Goodluck Jonathanled Federal Government of deliberately withholding the ecological funds of states under the control of All Progressives Congress (APC). Kwankwaso, who was in Abeokuta, the Ogun State capital, also met behind-closed doors with former President Olusegun

lKano gov consults with Obasanjo Obasanjo. The governor was on a two-day working visit with Kano State students that are studying at two private tertiary institutions – Bells University of Technology, Ota, and Crescent University, Abeokuta. New Telegraph reliably gathered that Kwankwaso met Obasanjo at the ex-president’s hilltop residence in Abeokuta on Saturday after which he visited the Bells University of Technology, Ota to monitor Kano students studying in the institution. Though details of the meeting were not made

public, a source privy to the meeting said it was not unconnected with national and political issues in the country. Kwankwaso is one of the five aggrieved governors that defected from the ruling Peoples Democratic Party (PDP) to the APC. The governor is believed to be interested in contesting the 2015 presidential election as his presidential campaign posters under the aegis of APC reportedly flooded the streets of Kano on Friday. But speaking with reporters at Crescent University, Abeokuta

yesterday, he alleged that the Federal Government had been discriminatory as it had yet to release ecological funds to states controlled by APC. The governor stated that other states, apart from APC-controlled ones, have been paid N2 billion ecological funds by the Jonathan government. Kwankwaso said he was not deterred, in any way, in funding the education sector in his state, adding that his administration had expended N500 million on Kano students who are in various tertiary institutions across the country. He pointed out that his government planned

to bridge the gap that exists between the North and South in the area of education as part of the commitment to improving the level of education. He said: “Nobody gives me any extra money, the Federal Government has given non-APC states N2 billion. They called it ecological fund but they gave us nothing, all of us. At least, I know what I am saying; there is no extra money from anybody, Federal Government or any other person. “Our policy is not to borrow money because we don’t want to mortgage our future. All we are doing is out of our

resources, the resources that we get locally and the resources that we get from Federal government.” On the Boko Haram insurgency in the country, Kwankwaso urged the Federal Government to change strategy by focusing more education and agriculture to absorb the unemployed youths. The governor contented that no educated person would accept to be a suicide bomber, adding that other critical aspects of the nation’s economy should be developed like the government is doing with security sector.

APC condemns Boko Haram attacks lTerrorists cashing in on nation’s weaknesses, Says NLC Yekeen Nurudeen

Abuja

he All Progressives Congress (APC) has described as cowardly and incomprehensible the last week Thursday's bombing at Nyanya, Abuja, saying nothing in the world can justify the mindless, senseless and barbaric killing of innocent people by a group of demented people masquerading as ideologues. The party also challenged President Goodluck Jonathan to order the arrest and prosecution of the so-called opposition believed to be sponsoring the insurgents. The opposition party in a statement issued in Lagos yesterday by its Interim National Publicity Secretary, Alhaji Lai Mohammed, also said the fact that the dead-enders can bomb the same area twice in as many weeks has given a fillip to the widening call on the President to provide much-needed leadership instead of shifting blames. “That almost the same spot can be bombed twice is the height of devilish audacity by those who perpetrated the evil act. “But it is also a poke in the eye for the authorities, considering the closeness of the scene to the seat of power. “If these insurgents are gaining in strength and audacity, it is because President Jonathan has allowed them through failure of leadership. If these insurgents are back in Abuja after almost three years of their last attack in the city, it is because they

have seen a soft target in a President who has failed to lead,” it said. The APC said the time had come for the President and Commander-in-Chief to earn his epaulet by providing purposeful leadership at a critical juncture in the history of the nation, rather than quietly egging on those who stupidly believe these insurgents are being sponsored by the opposition and some other ill-defined people to discredit the government. “It has been argued in certain quarters that the resurgent attacks and the shameless abduction of the over 200 schoolgirls are aimed at discrediting the Jonathan Administration, especially ahead of this week's World Economic Forum on Africa. “What these evil theorists have forgotten, conveniently, is that the activities of the insurgents tar every Nigerian, whether in the ruling or opposition party, with same brush and that no Nigerian, ultimately, benefits from these barbarous insurgency. “Therefore, Mr. President, rise above the fray and seize this moment in history to assert your leadership and stop whinging about this insurgency. “The buck stops on your desk, so stop pushing it to other people. If indeed you believe in the lies being peddled by your genuflecting and capricious party officials that the opposition are behind these attacks, what prevents you from ordering the arrest and prosecution of these sponsors if you have concrete evidence of their involvement?

L-R: Executive Director, Lagos and South West, Fidelity Bank Plc, Ikemefuna Mbagwu; Managing Director/CEO, Nnamdi Okonkwo and Chairman, Board of Directors, Dr. Christopher Ezeh, at the bank's 26th AGM held at Le Meridien Ibom Hotel & Golf Resort, Uyo, Akwa Ibom State… at the weekend

2015: We’ll use our own police to protect votes-Fasehun Yekeen Nurudeen

Abuja

he Founder of Oodua Peoples' Congress (OPC) and National Chairman of newly registered Unity Party of Nigeria (UPN), Dr. Fredrick Fasheun, has said that his party would not rely on the Nigeria Police and other security agencies in 2015 to stop election riggers. According to him, the party would make use of its own trained vote’s protectors

during the election to prevent rigging. Fasheun, who addressed a press conference in Abuja at the weekend, noted that riggers were successful in previous elections because Nigerians allowed them, adding that anybody that attempts to rig election in 2015 would not have a palatable experience. His words: “Election rigging has been possible in this country because people allowed riggers to rig. This time, no rigger will succeed in rigging.

Suswam sues FG over Tiv killings Cephas Iorhemen

Makurdi

mmediate elder brother to Governor Gabriel Suwam of Benue State, Chief Terkula Suswam, has dragged the Federal Government before the International Court of Justice at The Hague over what he described crimes against humanity committed against theTivnation. Chief Suswam, who disclosed his intention while

briefing journalists weekend in Anyiin in Logo Local Government Area, said he and others are worried that over the years, there has been a plot to wipe out the entire Tiv people citing the invasion of ZakiBiam by the military forces during the Chief Obasanjo administration where scores of Tiv farmers were massacred in cold blood; as well as the recent Fulani attack on many Tiv communities.

Justice Oputa dies at 96 Tony Okuyeme and Jonah Iboma

ormer Justice of the Supreme Court of Nigeria, Chukwudifu Oputa is dead, aged 96 years. According to information late last night, Justice Oputa was said to have suffered from stroke in February, and has been hospitalised in Oguta, his hometown in Imo State. He was said to have on the intervention of the Imo State government flown abroad for treatment. His family, in a statement signed by his son, Charles Oputa popularly known as Charly Boy, announced the passing to glory of the eminent jurist and retired justice of the Supreme Court of Nigeria, at the age of 96 years. “He passed on peacefully on Sunday afternoon, May 4, 2014, after recovering from a brief illness. Funeral arrangement will soon be announced by the family.”

He was born September 22, 1924, into the family of Chief Oputa Uzukwu and Mrs. Nwametu Oputa. Oputa, was appointed to investigate abuses during 15 years of military rule, which ended when President Obasanjo took office as elected president on 29 May. The Oputa panel examined human rights abuses when President Obasanjo was in power previously as a military ruler from 1976 to 1979. The former head of the human rights investigation commission, the Oputa Panel, was rushed to the hospital on Friday February 14, after he suffered partial stroke. He was rushed from the Federal Medical Centre, Owerri, to a specialist hospital in Enugu on February 18. His condition was said to have stabilised and the entire family had been praying for his recovery, although, were readying themselves for the worst. He was the first Chief Judge of Imo State.

NEWS

Sanctity of Truth

Monday, May 5, 2014

LG scrapping, a recipe for crisis –Council boss Sola Adeyemo Ibadan

ARETAKER Chairman of the Iseyin Local Government in the Oke Ogun zone of Oyo State, Hon Saheed Yusuff-Alaran, has described the proposal by the National Conference to scrap local government administration in the country as an attempt to trigger off a very serious crisis.  “Local government is the closest arm of government to the people and so, any attempt to scrap it amounts to taking the people miles away from governance.  Yusuff- Alaran advised the confab delegates to address other problems confronting the nation, instead of scrapping the only level of government that is so accessible to the people.  The confab had rea-

soned that local governments had become wasteful ventures and conduit pipe through which state monies were being siphoned, and so suggested that it be scrapped outright.  Discountenancing the proposal, the council boss said, “If they say they want to scrap the local governments, to me, they just want to trigger a very serious crisis. Local Governments ,as far as I am concerned, although I may be challenged, are the closest level of government to the people.   “Tell me when last a Minister or President visited Iseyin to know what is happening here. Or tell me how often will a governor be coming to each local government to know what is happening. The people at the local government level are the ones we interact with everyday,” he said.

FG lacks powers to supervise states, local govts —Oshiomhole FEDERALISM

Edo governor lectures Federal Commissioner on government Cajetan Mmuta BENIN

overnor Adams Oshiomhole of Edo State, has descended on the Federal Government over constitutional breaches, insisting that it cannot supervise states or Local Governments. He said that was because the Constitution of Nigeria prescribes a federal and not unitary system of government.

Oshiomhole spoke at the weekend when he granted audience to Hon Ifaluyi Isibor, the Federal Commissioner representing Edo State in the Federal Character Commission. He said: “I believe Edo people will expect you to ensure the interests of the people of Edo State are well represented in Federal appointments.” Oshiomhole, who reacted to Isibor’s call on the governor to direct the state’s Local Governments, Ministries, Departments and Agencies (MDAs) to appear before the Federal Character Commission as part of its monitoring exercise, said, “I am accountable not to the Federal Government; I am accountable to the

people of Edo State. Our Local Governments are not accountable to me as the Governor of Edo State. Our Local Governments are accountable to the people of their locality. That is the logic of the Federal system.” He argued that “to think that a local government that is not under the supervision of the Federal Government will have to convince you about the genuineness of their appointments and projects, is to mistakenly assume that we are in a unitary system of government. “So, for any person in Abuja to think that he will come as a general overseer to ask the local governments to open their books, is not acceptable.”

Oshiomhole advised the Federal Government to recognize the principles of federalism, adding that “you don’t appoint a federal agent to come and supervise me.” He emphasized that he was elected by the Edo people and is accountable to the Edo people, who elected him. He, however. said, “We are co-managers of the economy and we go to Abuja to coordinate and collaborate but not as Federal Government being my supervisor. The Federal Government is not the supervisor of states. The location of projects in Edo State is purely as approved by Edo State House of Assembly, not by the National Assembly”.

Edo PDP to reject ‘foreign’ influence in 2015 Cajetan Mmuta BENIN

eaders and members of the Peoples Democratic Party in Oredo council in Edo South Senatorial District have endorsed the aspiration of Engineer Omoregie Ogbeide Ihama to represent the Federal Constituency at the House of Representatives come 2015 elections. The stakeholders of the party, made up of ward executives, leaders and various groups drawn from the twelve political wards of the council made the declaration at a well attended sensitization and awareness ceremony organized by the Ogbeide Ihama Foundation held at the weekend in Benin. Speaker after speaker unanimously expressed the strong resolve and desire to ensure that positive change in improved standard of living and greater political awareness and participation

remain the hallmark of representatives of the area in next year’s elections through their votes and massive support. They vowed that never again would people of the area subject themselves to undue influence of external forces, division by partisan politics and unnecessary bickering that has never done them any good. The state Publicity Secretary of PDP, Matthew Urhoghide, urged the people to remain united and focused in all their dealings towards the realization of the goals of the 2015 project. He said, “our area has remained a force in the politics of the state and, therefore, we must speak with one voice and strive at all times to leave legacies for better tomorrow.” He assured the gathering that the state chapter of the PDP is poised to reclaim its rightful place ahead of next year polls.

L-R: Niger State Governor, Babangida Aliyu; Senate President, David Mark and Delta State Governor, Emmanuel Uduaghan, during the funeral service of Chief Uche Okpuno’s mother, in Asaba …at the weekend.

4,487m

The number of mobile-cellular subscriptions of developing countries in 2011. Source: Itu.int

94.5%

The percentage of male internet users in Netherlands in 2012. Source: Itu.int

N1.71bn

The internally generated revenue of Zamfara State in 2011. Source: National Bureau of Statistics

Plateau teachers groan over unpaid salaries Buhari Bello Jos

eachers and local Government workers in Plateau State are now grumbling due to unpaid four months salaries. That is despite the agreement signed with the state government two years ago.   The workers are also

disturbed about government’s attitude to full implementation of the minimum wage to local government staffers in all the 17 council areas.  “This is the government that pledged the payment of salaries before the 25th of every month. Today, two months down the line, no salary has been paid in the state and workers

are daily slaving without stopping”, said Comrade Jibril K Bangir in an address to the workers to mark this year’s May Day held at the Rwang Pam Stadium Jos.  He frowned that for “over eight years, workers in the public service of Plateau State have been denied promotion for no reason”.

The workers in the state demand the immediate release of their promotion with benefit, which he said, “has caused a lot of dissatisfaction and loss of morale within the service.”  “We are, therefore, calling on government to revisit this issue urgently and pay workers what rightly belong to them.”

10 News

Sanctity of Truth

Monday, May 5, 2014

Abia re-engages sacked non-indigenes into civil service Ikechukwu Ucheoma Umuahia

ver 2, 600 of the 4, 533 civil servants sacked in 2012 by the Abia State government over their non-indigene status are being recalled to the offices they left during the ill-fated policy that generated condemnation from neighbouring states. Already, about 1, 500 of such workers, mostly female, who are from the state, but married to nonindigenes, have returned

to their former positions with the rest directed to report with documented evidence that they were actually in the service, but were laid off and the positions they held at the time of the exercise. State Head of Service, Chief Godwin Adiele, made this known during an interview session in a local radio programme monitored in Umuahia. He said modalities for reabsorbing the disengaged workers into the service of the state, have been

worked out with the cost implications made known to government. Adiele said the delay in carrying out the directive of Governor Theodore Orji, who rescinded an earlier government decision to sack all nonindigenes in the state public service, "was to prepare all necessary grounds for those to be re-absorbed to be included in the monthly salary schedule, so that they will join their colleagues in receiving pay-

ments from the period they resumed duties in their various offices." Asked whether every non-indigene that was laid off from service during the period would be eligible to benefit from the turn-around policy regime, the head of service said "only those that declare interest in writing, would be considered as some of them may have been absorbed into their home state’s public service as was agreed or secured employment

elsewhere and would, therefore, have no need to return." The head of service also said that the ban placed on employment has been lifted by the state government, adding that the number of vacant positions in government establishments are being collated and would be made public through advertisements to enable those in need of employment to apply. He said a supplementary budgetary provision

was being planned to capture needed inputs, including financial obligations of government and will be presented to the appropriate government functionaries to scrutinise and approve before implementation. He commended the Orji administration for heeding pleas and calls from public-spirited Nigerians to rescind the decision to relieve non-indigenes of the state from positions they occupied in the service of the state.

Oyo governorship aspirant canvasses support for retirees PENSION

Makinde, a politician wants better retirement life for workers Sola Adeyemo

Ibadan

eoples Democratic Party (PDP) governorship aspirant in Oyo State, Mr. Seyi Makinde, has charged the Federal Government and other tiers of government to ensure prompt and regular payment of gratuities and allowances of retirees in the country. He said this was to stem the ugly trend of the senior citizens dying on queues while awaiting their entitlements. Makinde, an engineer and oil magnate, said this in Ibadan during the send-forth ceremony organised for five of the staff of Amuludun FM (Yoruba outfit of the Federal Radio Corporation of Nigeria, Dugbe, Ibadan), who retired, having meritoriously served the Federal Government for 35 years in their various

capacities. The retirees honoured by the management include the General Manager, Elder Adenrele Ajisefini, Olajire Oladimeji, Adeola Oluwole, Wahab Ayinla, Wole Afolabi and Oyetunde Sadiq. The governorship aspirant, who was represented on the occasion by a former Speaker of the Oyo House of Assembly, Hon. Kehinde Ayoola, noted that; “Retirement is a period of joy and celebration for workers who have given their all to the service of the organisation they represented. “However, such joy has always turned to sorrow when governments responsible for paying their entitlements fail to fulfil their part of the bargain through prompt payment of the gratuities and allowances due to the retiring staff. He promised that his party was poised to correct the anomaly “as we have already been empowering widows and the jobless, including bursary awards to students of academic institutions, so that life could be meaningful to them.”

Misau Emirate elevates Yuguda, Pate Yuzarsif Alhassan

Bauchi

auchi State governor, Isa Yuguda, yesterday added another feather to his cap as he was turbaned the Dan’isan Misau along with his younger brother, Dr. Ali Pate, who was turbaned the Chi-Garin Misau by the Misau Emirate Council in the state. The ceremony, which took place on Saturday, was witnessed by thousands of dignitaries including Emirs, chiefs, members of state House of Assembly, among others. The emirate said the turbanning of the two illustrious sons of the emirate was a function of their contribution to the

development of the state in the area of education, health, human development, among others. Responding, Governor Yuguda, who spoke on behalf of himself and Dr. Muhammad Ali Pate, assured the Emirate of their loyalty and support saying that they will live up to expectation to protect the culture and tradition of the emirate. He also pledged to bring more development, not only to the emirate council, but also to the people of Misau Local Government area in the state. Among dignitaries at the event were the Alaafin of Oyo; Oba Lamidi Adeyemi and Alhaji Muhammad Nadada.

L-R: Acting Company Secretary, Dangote Cement PLC, Ityoyila Ukpi; Chairman, Aliko Dangote; Group Managing Director/CEO, Mr. Devakumar Edwin; Director, Mr. Olakunle Alake and another Director, Mr. Joseph Makoju, during the 5th Annual General Meeting in Lagos…at the weekend. PHOTO:SULEIMAN HUSAINI

41.6

980,000

N2.53bn

The number of fixed-telephone subscrip- The total number of adults and children estimated The IGR realized from other revenue sources of Kaduna State in 2011. tions per 100 inhabitants of Europe in 2011. to be living with HIV in Ethiopia in 2008. Source: National Bureau of Statistics Source: Itu.int Source: Blatantworld.com

Bauchi moves to curb Almajiri syndrome Yuzarsif Alhassan

Bauchi

n continuation of the need to boost morale among school children under the Tsangaya education system, Sheikhs, Alarammas, Mallams and reciters of the Holy Quran across Bauchi State yesterday gathered to brain storm on the modalities of curbing the almajiranchi syndrome in the state. The stakeholders on Tsangaya education system gathered to find a lasting solution to the menace of Almajiranchi syndrome in the state. The seminar, which took place in the office of the Director-General on Tsangaya Education in Bauchi, discussed, among others, the necessity or otherwise of almajiri lifestyle in the state. Also part of their brief was how to curb

the menace of almajiri, as well as the measures to be taken by the state government towards arresting the trend. Representative of Sheikh Dahiru Usman Bauchi and son, Sheikh Tijjani Usman Dahiru, while declaring the seminar open, said there is no nation in the world where begging is prohibited. Dahiru said peace reigns in a place or society where the Holy Qur’an is being recited and that this makes Nigeria one of the most peaceful countries in the world, attributable to its recitation of the holy book. Sheikh Tijjani Bauchi, who described Almajiranchi as being synonymous with the Holy Qur’an, said however, that the almajiranchi system modernises itself with changing times, which gradually leads to its abrogation.

LDPC: Trial of Ekomaru over N5m legal fee continues May 7

earing in the petition brought by a former member of the House of Representatives, Hon. Austin Nwachukwu, to the Legal Practitioners Disciplinary Committee (LPDC) against a Senior Advocate of Nigeria, Chief Chukwuma Ekomaru, over allegations of unethical conducts will continue on Wednesday, May 7. Ekomaru was also accused of fraudulently collecting N5 million from Nwachukwu as legal fees even as he later abandoned the case. The Legal Practitioners Disciplinary Committee (LPDC), the disciplinary arm of the Nigeria Bar Association has fixed May 7, for the adoption of final arguments. It will be recalled that the disciplinary committee set up by the Nigeria Bar Association (NBA) Abuja branch had, after its investigation of the allegations against Ekomaru, held that he has a

case to answer and then sent his case to the LPDC for determination. According to the petition by Nwachukwu dated October 25, 2012, “Sometime in 2010, I instructed Chief (Sir) Chukwuma Ekomaru, SAN, to institute a suit on my behalf against Arik Air Limited for negligence. He charged me N5 million as his professional fee for instituting and prosecuting the suit to its logical conclusion. After taking my money he abandoned my case.” “Being aggrieved by the said injustice meted out to me, I consulted my lawyer, Chief Sir, Chukwuma Ekomaru, SAN, to institute a pre-election suit on my behalf against the PDP and others. He interviewed me and requested me to submit all relevant documents on the primary elections. “I did so and after studying and perusing the documents, he told me that I have a good case."

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ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

Monday, may 5, 2014

Gate leading to the centre

Some of the disused equipment

ational Youth Development Centres (NYDCs) across the country are meant to equip youths with different trades and skills. But the NYDC at Owode Egba in Obafemi Owode Local Government Area of Ogun State, which covers the South-West region, is in a shambles. The structures are dilapidated as rodents, reptiles and weeds have taken over the premises covering about 20 hectares of land. “A training event or workshop takes place here may be once or twice in a year,” said one of the security men guarding the centre. Villagers, who see the fallow land as an opportunity to farm, have also taken over the place. The facilities there are rusty, unused and dusty, while the ceilings have been covered up by cobwebs. “We have visitors here only when churches want to use the place for crusade,” another guard said. The mechanical workshop, the auditorium, the block of eight flats, and the male and female hostels are dirty. They are only cleaned up when a church is having a crusade there, it was learnt. The government, it was gathered, constantly renovates the infrastructure, which includes the flats, the hostels, the workshops and the relaxation blocks. The Federal Government had established the NYDCs in all the country’s three geopolitical regions to engage the youth in different fields of life and check youth restiveness. The Principal of the NYDC at Owode Egba, Mrs Monica Ogbonna, spoke on the objectives of establishing development centres across the country. He said: “The youth camp is primarily established for youth empowerment and ap-

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Structures overgrown by weeds

PHOTOS: CAMILLUS NNAJI

NYDC: Another failed project?

The Federal Government’s purpose of establishing the National Youth Development Centres may be defeated if they are continued to be neglected, writes CAMILLUS NNAJI prenticeship training in different fields of life such as mechanic training, welding, tailoring, carpentry. “It is also for workshops, seminars and lectures for youth skill acquisition.” In recognition of the importance of the youth as the future and leaders of the country, the Federal Government built the centre at Owode Egba in the late 1980s. However, similar to many Nigerian institutions, the youth camp has suffered neglect and underutilisation. “The government is trying but I can say the place is not fully put into use. A facility like this needs to be under constant use and maintenance,” she added. One of the residents of Owode Egba, Mr Faith Onyenikan, said he was aware when the youth camp was established in the com-

We have visitors here only when churches want to use the place for crusade

munity. He said: “The intention of the government in bringing this facility to Owode is very good, but I must tell you that many people are not benefitting anything from it because in a year, you can witness only one or two events there. “The place has turned to a crusade ground for churches. The only people you can see coming to the youth camp for activities are the churches that use the facility as a campsite and crusade ground. Some of those who spoke with our correspondent said it would more profitable for the government to give the centre to private individuals to manage. “We have been hearing about that but no privatisation has taken place yet. The only thing is that the state tends to make use of the place more, while the Federal Government is the one constantly renovating the place,” Ogbonna One of the workers at the centre, Mr Doyin Oyekan, said poor power supply was one of the challenges facing the youth centre. He said: “You can see the place is bushy,

we are at the mercy of snakes and wild animals. The generator we are using is about 10 years old. It was brought by the Educational Trust Fund (ETF) when it held a programme here. That is the only generator and it is always faulty. “On maintenance, a company, Lions Engineering Limited, with the government mandate to renovate the youth camp, has done tremendously well so far. The hostels are once again wearing a new look, with fantastic aluminium fittings and electrical installations.” According to the Site Engineer, Bede Asoluka, by continuously investing in the youth centre it means the government give priority to the future and welfare of the youth. Asoluka said that Non-Governmental Organisations (NGO) should not wait for the government before they begin to use the camp. He said: “They can apply to the respective ministries and use the place. The facilities are here, the workshops are equipped, what the government should do is what it has done, by providing the enabling environment for the youth to be trained. “When the youth centres are effectively put to use, the issue of social vices, violence, touting, miscreants, drug addiction will be very be reduced.”

METRO

Monday, M

Husband, wife, five kids die in their apartment

lPolice rescue three children from kidnappers MYSTERY Seven members of the same family found dead in their beds

Juliana Francis

olice are still trying to unravel the mystery behind the death of a family of seven in Lagos. The body of the head of the family, an employee of Nigerian Brewery Plc, identified as Etim Edet, was found along with those of his wife and five children in their apart-

ment at Bagido area of Ijede. The state Police Public Relations Officer, Ngozi Braide, who confirmed the incident, said it occurred about 4pm on May 1. She said: “Edet was found dead with his wife and five children on their beds at his residence at Bagido area of Ijede. No sign of violence was seen on their bodies. “They were suspected to have died from generator fumes. The decomposed corpses have been removed to Ikorodu General Hospital mortuary for autopsy. The incident is under investigation at Ijede Division.”

Ebonyi community decries rise in criminal activities Leo Sobechi

he residents of Okposi community in Ohaozara Local Government Area of Ebonyi State have bemoaned the sudden rise in crime such as armed robbery and kidnapping. The people also condemned the attitude of some politicians employing youths as thugs to perpetrate violence and criminal activities in the community. This is contained in a communiqué issued after a meeting on the situation in the community. The communiqué was jointly signed by leaders of thought and religious leaders in the four wards of Okposi Ezi-N’asato clan such as Eze Anoke, (President General, Okposi Community Development Union, OCDU); Chief Ogbonna Sam Okoro, (former President General, Okposi Okwu Development Union, OODU); Mr Isaiah Nwite, (1st Vice President, Mgbom Na Achara Development Union, MADU); Rev Father Lawrence Aja, (Holy Rosary Parish, Okposi); Rev Johnson Odii, (Okposi Achara); Hon. Benson Igboke, (Amaeluagu Okposi) and Hon. Ogbonnaya O. Akpoke, (2nd Vice President, MADU), among others. The communiqué also commended the state government for the timely change of leadership of Okposi Development Centre with the appointment of Mr. Magnus Eze as coordinator. It reads in part: “We the lead-

ers of thought of Okposi Ezinansato met and after exhaustive deliberations on recent ugly happenings in the community noted with serious concern as follows: That although crime may never be eradicated completely from any society, the sudden rise in crime in our dear community from a once peaceful and almost crime-free community to a den of criminals and home to highly militant youths calls for concerted efforts by all well-meaning Okposi indigenes and government at all levels, including the security agencies. “And after a critical x-ray of all the issues; the meeting hereby resolved as follows: That the two coordinators of Okposi and Anuagata Development Centres in Okposi Ezin’asato should liaise with the traditional institutions and development unions of the three autonomous communities to ensure the security of lives and property in Okposi Ezin’asato. “The abduction and gruesome murder of Elder Ihebunandu Okorie, former coordinator of Okposi Development Centre is a big blow not only to Okposi Ezin’asato but to the entire Ebonyi State and we therefore urge the Ebonyi State Government and the security agencies concerned to ensure that the perpetrators of the dastardly act are brought to book, no matter how highly placed the person or group of persons may be.”

Also policemen attached to the Ojo Police Station have rescued three children from suspected kidnappers. Braide, who also confirmed the incident, said the policemen acted on tip-off and arrested one Iheanachor Collins of unknown address at CTU Point Iyana-Iba, with three male children allegedly abducted from one Iyabo Lawal at Ojo area of Lagos. She said: “The children were rescued and handed over to their parents. The case is now under investigation at Ojo Division.”

Braide

Sokoto auto crash claims nin

ine persons lost their lives when a petroleum tanker and a Peugeot 406 car collided at Hausari village, on SokotoTambuwal Road in Sokoto State. The accident occurred about 7.30pm three kilometres from Dogon Daji town on Saturday night. The Peugeot 406, according to the News Agency of Nigeria (NAN), was part of a wedding delegation conveying a bride to Sokoto from Dogon-Daji, about 76 kilometres from Sokoto, while the tanker was going from Sokoto to Jega in Kebbi State.

A reporter with the Nigerian Television Authority (NTA), Sokoto Network Centre, Mr Umar Dogon-Daji, said two other persons were receiving treatment at the Uthmanu Danfodiyo University Teaching Hospital, Sokoto. Dogon-Daji said that eight of the victims were all relatives of the bride, while a co-driver of the petrol tanker was among those who died. He said: “I attended the burial of the eight deceased persons, comprising a man, four women and three children aged between eighteen months and three

years. “The burial was conducted around 10am on Sunday and they were thereafter buried at the Dogon-Daji cemetery.” According to him, the body of the co-driver has been taken away by his relatives. A younger sister of the bride, Miss Iklima Tafida, also said yesterday that their family and the entire town had been thrown into mourning, following the incident. She said: “We are all confused and shocked, although we strongly believe that God knows best.”

T Fed sio how wa ma A Rel tap Pol Sha cid H to g do you get

102 applicants try luck in Lagos hom Muritala Ayinla

t least 102 applicants will slug it out in the third round of public draw for the emergence of another set of new homeowners in the Lagos Home Ownership Mortgage Scheme (Lagos HOMS) this week. The Executive Secretary of the Lagos Mortgage Board, Mr Akinola Kojo Sagoe, said in a statement that 158 application forms were received, out of which 102 applicants were prequalified for the May draw. According to him, the estates listed for the draw are Alhaja Adetoun Mustapha Estate, Ojokoro; Oba Adeboruwa, Ikorodu; Chois Gardens, Abijo, Lekki; Hon Olaitan Mustapha Estate, Ojokoro; Hon Rotimi Shotomiwa Estate, Igbogbo, Ikorodu; Shitta Estate, Surulere; Shogunro Scheme 1, Ogba, Ikeja and Sir Michael Otedola Estate, Odoragunshin,

Epe. Sagoe also said from the first draw held on March 21, applicants had paid their equity contribution while20 applicants had signed the legal documents and had been handed keys to their houses. He also said eight applicants

had paid their equity contribution from the second draw in April, adding that many of the applicants had signed the legal documents and received keys to their houses. The executive secretary added that some successful applicants were already moving

M th se o m p in

Resolve Oyeri Juliana Francis

A The late Oyerinde

Non-Governmental organisation, the Network on Police Reforms in Nigeria (NOPRIN), has called on President Goodluck Jonathan and the Inspector General of Police, Mohammed Abubakar, to resolve the contradictions surrounding the murder of Olaitan Oyerinde. The group said the actual killers

of Sec Osh fou

the Nw tha ter un wa res

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Ekiti: Bamidele raises stakes with mega rally

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MONday, May 5, 2014

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2015: 500 POLITICIANS TO WATCH

Battle royale in Coal City State Leo Sobechi Enugu

nugu, the Coal City State, is renowned for hate politics. The acrimonious political struggles in the state predates its creation in 1991. Not many have forgotten the serial bitter struggle for the governorship of old Anambra State between the late Chief Christian Onoh and Chief Jim Ifeanyichukwu Nwobodo in 1979 and 1983. Though Nwobodo climbed on the popularity of late Owelle of Onitsha, Dr. Nnamdi Azikiwe, to defeat Onoh for the governorship in 1979, he was stopped in 1983. T h e stiff political battle f o r t h e soul o f Enug u w a s only exceeded in intensity and naked display of savagery by a similar show in Ondo State in 1983. Believing that the defunct National Party of Nigeria (NPN) to which Onoh belonged robbed him of deserved victory, Nwobodo flying the gubernatorial flag of defunct Nigeria Peoples Party (NPP); went to court and obtained a temporary reprieve. But backed with the ubiquitous federal might, Onoh’s ‘victory’ at the poll was restored at the Court of Appeal which was by then the court of final instance in election disputes. If the Onoh/Nwobodo political battle could be dismissed on the notable dichotomy prevailing in the state between the ‘Ijekebes’ of present day Anambra State and ‘Wawas’ of today’s Enugu State, what transpired in Enugu after it was carved out as a separate state, beat every sane imagination. Perhaps fuelled by naked poverty or sheer greed for power, power play in Enugu State has continued to describe political wickedness, mischief making and vicious exclusion. Shortly after the state was created, the Ibrahim Babangida military regime, experimenting with the idea of a possible diarchy, partially lifted the ban on political activities under the two government-decreed political parties: National Republican Congress (NRC) and Social Democratic Party (SDP). Despite the fact of their conservative political ideological leaning, most prominent political actors in Enugu were evenly distributed within NRC and SDP. It was in that setting that Rev. Hyde Onuaguluchi from Oji River went into the governorship race. There were obvious signs that the balance would tip in favour of NRC, as such the major political battles were fought on that turf. And just when it was becoming clear that Onuaguluchi would clinch the governorship ticket of NRC, in fact barely two weeks after Igwe John Nwodo of Ukehe, prayed for his victory at the

polls; one of the monarch’s sons, Dr. Joe Nwodo, joined the race. Given the fact of their political clouts, Onuaguluchi and Nwodo polarised the length and breadth of old Enugu State. So intense and ferocious was their campaign for the governorship that the Armed Forces Ruling Council (AFRC) led by President Babangida banned the duo from further participation in the election. Having been barred from the contest, the younger Nwodo,

Dr. Okwesilieze Nwodo, was drafted into the race. It was obvious that the Nwodos reached for their close connection with Babangida to stop Onuaguluchi, who was looking unstoppable. The junior Nwodo ultimately picked the NRC ticket and went ahead to win the governorship election against the SDP candidate, Chief Gbazuagu Nweke Gbazuagu. But as happened to Onoh in old Anambra State, Nwodo’s perch at the Government House was short-lived following the dismantling of civilian governance structures and the Interim National Government of Chief Ernest Shonekan by the late General Sani Abacha. At the return of democracy in 1999, prominent political leaders in the state hinted on the need for power rotation to ease the tension associated with the contest for the coveted seat. These leaders congregated around Dr. Chimaroke Nnamani from Enugu East Senatorial district to ensure that he defeated the politically savvy and grassroots champion, Chief Gbazuagu. After the contest and losing the governorship for a second time, Gbazuagu saw through the elite conspiracy and intrigues of the political leaders. He retreated to his private business and ever since, he has maintained a principled and dignified aloofness to Enugu politics. But as it turned out, the malaise of bitter political struggles did not seem to have been cured by zoning. Because in 2003, former Governor Nwobodo, then a senator, attempted to cut short Nnamani’s tenure through impeachment and later by supporting Arch. Alex Obiechina, from Enugu West Senatorial District; for the governorship post on the platform of United Nigeria Peoples Party (UNPP). Governor Nnamani, however, succeeded in serving two terms in office as well as annointing the incumbent Sullivan Iheanacho Chime to succeed him in 2007. Now, though Chime’s desire to stick to the rotation principle has damped the mad rush of contestants for the post of governor, some political actors are lining behind the Deputy Senate President, Ike Ekweremadu, to fight for an open contest. Even at that, Chime’s ambition to retire to the Senate seems to be waking up the hate politics for which Enugu is notorious for. As 2015 approaches, the following personalities would surely be on hand to perform crucial roles: Sullivan Chime Unknown to many, Chime’s journey to the governorship began with a simple obedience to CONTINUED ON PAGE 14

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Monday, May 5, 2014

2015: 500 POLITICIANS TO WATCH CO N T I N U E D F R O M PA G E 1 3

his father’s admonition. Though the elder Chime was a renowned quantity surveyor, his understanding of political strategy was acute. He served as a minister in the old Eastern Region. In 1983, he called his sons together and warned them against taking part in politics resting his admonition on the possibility of another military intervention. “Do not contest for any position yet; the military will still take over power. Time will come when you should participate then you will win,” the old man was said to have cautioned his sons. But Sullivan’s elder brother, Sunny with the backing of Dr. Sam Orji, Onoh’s cousin; defied the advice and went ahead to contest the House of Representatives ticket of NPN. He was defeated by his kinsman, Mr. Tony Eneh (Gary), the son of another Udi businessman, Chief G.O D Eneh. Perhaps touched by the reality of their father’s prediction and the effect of its disobedience, Sullivan developed a cold attitude to active politics. However, that indifference thawed in 1999 when his former school mate and friend, Governor Nnamani, appointed him to the position of Special Assistant (Legal) and later, Special Adviser to the Government on Legal Matters. From the position of an aide, Chime was elevated to the post of Attorney General and Commissioner for Justice. He continued to play behind the scene until 2007 when Nnamani shocked bookmakers to nominate and support him for the governorship. Seven years on as governor, Chime has been confounding all those who still hold his past and introverted mood against him by his political calculations and decisions. His support for Adada State movement and recently zoning of the governorship to Nsukka cultural zone of Enugu North Senatorial District are some of the courageous political steps taken by the Udi-born lawyer. In 2015, all bucks would stop on his table and much political calculations in Enugu State would revolve around the governor. Chimaroke Nnamani As governor of Enugu State, Dr. Nnamani affected virtually everything in the state. Having understudied the political methodologies of his godfather, Nwobodo, Nnamani did not waste time to raise his own political structure. The Ebeano political grouping which he inspired flowed from his political supremacy battle with the Abuja politicians led by Nwobodo. After he emerged from the battle with his head bloodied but unbowed, Nnamani went about politics in the high way. He tried to dominate the political scene in the state via the cult following which the Ebeano family conferred on him. Nnamani raised the political consciousness of some streetwise young elements and gave them access to the pedestal of policy formulation and execution. The culture of violence and ceaseless bickering that dominated his eight years in office obfuscated his performance. Rivals accuse him of promoting cronyism and mediocrity during his tenure as governor. Nnamani fell out with Chime shortly after nomination. He started lamenting that Chime conned him while serving as his aide as self-effacing and politically indifferent. Sources disclosed that while serving as special assistant, Chime sided with Nnamani during his squabbles with powerful forces by giving him the impression that as captain, his orders must be obeyed by subordinates. The political differences between the godfather and his godson expanded such that in 2011, Nnamani’s effort to make it back to the Senate on Peoples Democratic Party (PDP) platform was inconceivable. Challenged by the unfolding scenario and desirous of showing

Chime, Nnamani, Ekweremadu,

Chime

Nnamani

Ekweremadu

Nwobodo

that he still command so much in Enugu politics, Nnamani founded the Peoples for Democratic Change (PDC) in apparent bid to produce a state governor and return to the Senate for a second term. That was not to be because the PDP machinery he devised was used to torpedo his inchoate political vessel. Recently, Nnamani who served Enugu East in the Senate said he was returning to the PDP, boasting that he remains the defining institution in Enugu politics. In 2015 it would be left to been how the Agbani-born paediatric surgeon hopes to influence the system. Ike Ekweremadu The Deputy Senate President, Ike Ekweremadu is considered as a lucky boy of Enugu politics. A creation of the Ebeano political grouping, he was rescued from constant pummelling by the Nwoye family in Aninri politics by Nnamani, who appointed him to the post of first, Chief of Staff and later, Secretary to Enugu State Government (SSG) after

he lost the local government chairmanship. Espying his ambitious disposition and prepared to expand his political interests, Nnamani supported Ekweremadu to the Senate in 2003. While in the Senate, he honed his skill as a penetrating politician and smooth operator, earning wide political mileage and financial muscle thereby. He emerged as Deputy President of Senate; he has garnered a lot of experience and political influence such that as 2015 approaches, his name has become a constant wherever discussions of the next election are being held both in Enugu and Abuja. His political future in 2015 is uncertain. The decision of Governor Chime to contest the senatorial election has put his ambition in limbo. The duo are from the same senatorial district. Also, the decision of PDP to zone the governorship to Nzukka zone has put paid to his rumoured governorship ambition in 2015. With the senatorial and governorship seats daily becoming impossible, Ekweremadu only has two options: to

contest against Chime for the Senate seat on PDP ticket or another political platform. The alternative is to bank on federal appointment. Definitely, he would put up a fight in the 2015 elections. Jim Nwobodo Nwobodo is a household name as far as Enugu and Nigerian politics is concerned. The charismatic former Governor of old Anambra State, former minister, senator and presidential candidate represents the ancient and modern face of Nigerian politics. Though he enjoyed some fleeting romance with progressives, Nwobodo is a well-known pragmatic and establishment politician. His belief in means as the basic access to power makes him a recurring decimal in Enugu politics, especially as it concerns governorship of the state. Presently he is one of the elder statesmen supporting the incumbent governor. As the clouds gather for the 2015 elections, he would not be missing in action both at the presidential, governorship and senato-

POLITICS

Sanctity of Truth

Monday, May 5, 2014

2015: 500 POLITICIANS TO WATCH

Nwobodo, Nwodo test might in Enugu

Nnaji

Nnamani

Eze

Ezeugwu

Nwodo

Abba

rial elections in Enugu East and Enugu State. His views and inputs still counts in Enugu politics, even if procured by those who can afford it. Okwy Nwodo His Excellency, Dr. Okwy Nwodo is the favoured son of the famous Nwodo dynasty. Providence pulled him out from his medical practice into an eventful political presence. He served briefly as governor of old Enugu State, National Chairman and Secretary of PDP at various times. He experimented with the idea of going to the Senate under the All Nigeria People’s Party (ANPP) and went on political excursion out of PDP to the Action Congress of Nigeria (ACN). He is associated with another aspiration to represent Enugu North Senatorial district in the Senate in 2015. Nwodo is also one of those supporting Chime’s efforts to ensure that the governorship is zoned to Enugu North. Owing to his experience and reach in PDP, Nwodo is one of the major players in 2015. Ken Nnamani He has a chequered political experience in Enugu State. His attempt to go to the Senate in 1999 was effectively blocked by his kinsman, Nwobodo, who raised as surrogate to defeat him under

the platform of Alliance of Democracy (AD). Nnamani, having been once beaten became twice shy by joining forces with Governor Nnamani in 2003 to defeat Nwobodo’s ‘insurrection’. As a reward for that support, he was supported with state government machinery to ensure his smooth berth at the Senate. He went on to become the President of Senate and made name when he presided over the killing of former President Olusegun Obasanjo’s third term gambit. At home, the former President of Senate is still a visible and active force especially regarding the distribution of political positions. He is currently leading Enugu delegates to the National Conference. For that and more, in 2015 Nnamani would not be on the sidelines when the drum beats faster.

Senate Committee on Works has garnered a lot of political experience and financial strength. He dangles his support for Chime and the national leadership of PDP with the hope of making a good show of his ambition to be the next governor of Enugu State. Those who have had close interactions with the Enugu-Ezike politician say he is brash, intolerant of opposition and given to a lone-ranger mentality. Nonetheless, with the speed he rose to political visibility, Eze may spring some surprises in 2015 regardless of which way he may turn in the unfolding politics of the state. Chime’s insistence that governorship must go to Nsukka zone is part of the reason Eze is always seen in programmes organised by or for the governor.

Ayogu Eze Senator Eze is one of the young men that came into limelight through the Ebeano political grouping in the state by associating with the Governor Nnamani. The journalist-turned politician once served as Personal Assistant to Dr. Nwodo from where he gained insight into Nigerian politics. After serving as Commissioner for Information under Nnamani, Eze found his way to the Senate. He is now on his second term. Like Ekweremadu, the Chairman,

Vita Abba Before he emerged as the state chairman of the PDP in a thoroughly disputed convention, not much was known about Engr. Abbah. Much of what was known about the Nsukka-born politician was that he was doing well in business in Aba, Abia State. Described as a good friend and faithful ally of Governor Chime, Abba is one of those angling to succeed the governor in 2015. Perhaps, in his haste to emulate his master by being less vocal and visible, the PDP state

chairman makes great effort to avoid being noticed. During the little distraction between Chime and Nwodo, Abba sided with Chime. It is this display of loyalty and support that he hopes to harvest during considerations for who earns the governor’s support for the 2015 governorship. Okechukwu Itanyi A son of the former transporter and politician, Edmond Itanyi; Chief Ezenwata Okechukwu Itanyi was Deputy Governor from 1999 through 2007. Currently a Director at the Nigeria Communications Commission (NCC), he is believed to be the unanimous choice of stakeholders to succeed Chime. In 2007, he defied the directives of Nnamani to purchase the PDP nomination form for the governorship, a development that heightened his cold war with Nnamani. His father was Deputy Majority Leader in old Anambra House of Assembly where he was a member under the defunct NPP. Frank Nweke Jnr. He is currently the Director General of Nigeria Economic Summit Group, (NESG). He served as Minister of Information and Orientation under President CONTINUED ON PAGE 16

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2015: 500 POLITICIANS TO WATCH

Hate politics take centre stage

Nwodo

Njeze

Nweke Jnr.

Onyia

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Shere J

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

Olusegun Obasanjo and is presently associated with interest to contest the PDP ticket for the Enugu East senatorial seat. Nnamani brought him into politics while he was busy getting ready for a test to take appointment in a commercial bank. After serving as commissioner in Enugu, Nweke jnr. has had a rewarding exposure in politics so far and is indeed one of the few people to watch in 2015. Nnia Nwodo This former Information Minister is toast master in speech making. He headed the Coal City Centenary Celebration Committee and left the impression of a poor finisher. Being third among the scions of the legendary John Nwodo, Ogbonnia has encyclopaedic knowledge of political history. He once ran for the presidential ticket of ANPP like his elder brother, Dr. Joe Nwodo. Given his activities in Adada State Creation Movement and the fact that he lost favour in Chime’s camp during the dog fight with his brother, the then National Chairman of PDP, Nnia would expose his relevance in 2015. Okey Ezea (Ideke) Chief Okechukwu Ezea contested for the governorship of Enugu State in 2007 and 2011 under the Labour Party (LP).

However, owing to an understanding Chime reached with the Nsukka cultural zone from which he hails, Ezea could not change the winning streak of the PDP. He is currently one of the leading lights in All Progressives Congress (APC) in the state. It is not very clear as yet whether Ezea would run again for the post now that the position of governor has been officially zoned to his Nsukka zone by both PDP and APC. But whatever he decides to do or not do in 2015, Nigerians will definitely hear about Okey Ezea. Ugo Agballah He was the campaign manager to Nnamani in 1999. He was appointed Commissioner for Works and Transport shortly after the election was won. However, midway into the tenure Agballah resigned from the cabinet citing “irreconcilable differences and principled stand against oppression, cronyism and nepotism.” Agballah hails from Udi Local Government Area as the incumbent. He contested the governorship against Nnamani in 2003 and Chime in 2007. Though he returned to the PDP after Nnamani’s exit, Agballah, the son of Second Republic Leader of opposition in old Anambra State, Ogbuiboo Petrus Agballah, has sided with any of the contending fac-

tions in the fight for the soul of Enugu. But, seen by many as a possible beautiful bride, when the push for 2015 gets tough, Agballah is one of the politicians that could help to shape the battle for Enugu. Fidel Anyogu He was a member of the House of Representatives until 2003 when he contested the governorship on the ANPP platform. He was until recently Nigeria’s Ambassador to Uganda. Presently a delegate to the national conference, Ayogu is one of the three aspirants that have shown serious interest in the race to succeed Chime. With a wide network of supporters in the state, if the powers that be consider Ayogu loyal enough to be trusted with the PDP ticket, he would give a good account of himself in 2015. Sunday Onyebuchi He is the current Deputy Governor of Enugu State. Until recently, he had been enjoying a smooth working relationship with Governor Chime. Onyebuchi tried to shake off his public image of Mr. Anonymous by voicing some flak against some members of Chime’s cabinet. Again, weeks back, the deputy governor served public notice of his intention to contest the PDP ticket for Enugu East Senatorial Zone against

Chime’s favoured candidate and Chief of Staff, Government House, Mrs. Ifeoma Nwobodo. Whether the deputy governor was merely flying a kite to catch attention, or serious, his political relevance would be seen in 2015. Eugene Odoh He is the Speaker, Enugu State House of Assembly. He was once a junior partner in Chime’s law chamber in New Haven, Enugu. Many people believe that his close association with the governor helped the Igbo-Etiti politician to clinch the Speakership position. This relationship is also being ascribed to the Speaker’s aspiration for the governorship. All these, when taken together with the able way the Speaker comported himself and the Assembly during Chime’s prolonged absence contributes to the current belief that Odoh would be very visible in 2015 calculations in Enugu State. Ifeoma Nwobodo As Chief of Staff, Government House, Mrs. Nwobodo is seen as the chief influencer in the Chime administration. She has displayed uncommon understanding of the warp and woof that attends to Enugu politics. She has not been found a push over in the administration as she plays key roles in the formulation and

POLITICS 17

Sanctity of Truth

Monday, May 5, 2014

2015: 500 POLITICIANS TO WATCH

among Enugu gladiators

Okoro

Onyebuchi

Nwobodo

Onyishi

Ezea

Agballah

Ayogu

implementation of various policies that have distinguished the Chime administration. It is therefore not for nothing that Mrs. Nwobodo is being given serious consideration to replace Senator Gilbert Nnaji as the representative of Enugu East Senatorial District. Whenever the mention of ‘Ifeomadiniru’ (Great expectations) is mentioned in Enugu State, it is to drive home the point that Mrs. Nwobodo is the next good thing to be unveiled by the Chime administration, where the issue of women participation in politics is become an interesting topic. In 2015, if the expectation that women should be in the Senate from Enugu State would be realised, it has hoped that Ifeoma would arise to break the jinx.

one of the political actors to watch.

Minister of State, Foreign Affairs, Onyia is one of the fiercely loyal foot-soldiers of former Vice President Atiku Abubakar in Enugu State. Onyia is involved in the current campaigns to shore up support for Turaki in South-East. He is also believed to be among a team of politicians working for the emergence of a governorship candidate from Enugu North that could give PDP nightmares in 2015. Given the interest generated by the likely candidate to fly the APC presidential ticket, Onyia would be actively engaged both at home and in Abuja come 2015.

mani, Shere may be thrown up again by situation and circumstances to play prominent roles in the 2015 activities.

Barth Nnaji Professor of Robotics and former Minister of Power, Nnaji is one of the few respected names in Enugu politics. With a carriage and profound academic and professional accomplishments, Prof. Nnaji contested the governorship of Enugu State in 2003 when he was exposed to the raw power of political contests in Enugu nay, Nigeria. His focus and determined effort to redress the dismal energy situation in Nigeria during his stint as Minister of Power raised his public adulation and appreciation of his patriotism and selflessness. It is not known yet where his political horoscope may be pointing but definitely, Nnaji is

Samuel Maduka Onyishi Chief Onyishi is the Chief Executive of Peace Mass Transit Limited. He caused great anxiety within the PDP fold when he hinted about his desire to decamp and contest the governorship on the platform of APC. Apart from possessing the deep pocket needed to prosecute the governorship campaigns, the ability of Onyishi to mobilise the masses aided by his buses cannot be underestimated. He made a mark in the state through the moderate fares his mass transit introduced for commuters, especially university students. When he runs on the PDP platform for the governorship or falls for the APC overtures to fly its flag in 2015, it is no longer possible to dismiss Onyishi in Enugu politics. Fidelis Okoro Senator Okoro served as Senator representing Enugu North in the Senate from 1999 through 2003. He was also chairman, Senate Committee on Defence. Though very controversial for his style of politics especially in Nsukka cultural zone, Okoro would be in the thick of activities leading to the 2015 politics in Enugu State moreso when the governorship has been zoned to his constituency. Dubem Onyia The Ngwo-born politician and former

Willy Ezeugwu He has been Secretary-General of the Conference of Nigerian Political Parties (CNPP). A former loyalist to the founder of All Progressives Grand Alliance (APGA), Chief Chekwas Okorie, Willy went his separate way when his bread was buttered elsewhere. However he caused a political stir during Chime’s medical vacation by convening the Save Enugu Group. Having domiciled in Nsukka for long, Ezeugwu is considered a grassroots political asset. Dan Shere J Dr. Shere served as Secretary to Enugu State Government (SSG) at the latter days of Chimaroke Nnamanai’s administration. He was also the PDC governorship candidate in the 2011 election. A loyal ally of former Governor Nna-

Fidelia Njeze Mrs. Fidelia Akuabata Njeze hails from Obinagu and married to Abor in the same Udi Local Government Area. She was a former Minister of Aviation and currently, Special Adviser to President Goodluck Jonathan on NEPAD. Her appearance on the federal cabinet excited some small political dog fights between Chime and Ekweremadu when it was popularly held that Ekweremadu recommended her appointment to paint Chime as being blind to the need to spread appointments in Enugu West Senatorial zone. Njeze like Chime hails from Udi. This time around, there are talks that Ekweremadu may throw up Njeze for the Senate after foisting a stalemate in the contest for Enugu West senatorial seat ticket in PDP. Ezebuilo Ozobu Eze Ozobu was not only the State Chief Judge; he is a well-respected elder statesman in Enugu State. He once served as President General of Ohanaeze Nd’Igbo. Because he was one of the active players behind the scenes in the politics of old Anambra and Enugu states, it would be a costly act of omission to leave Eze Ozobu out of consideration in the 2015 schemes in Enugu State.

18 POLITICS

Sanctity of Truth

Monday, May 5, 2014

Ekiti: Bamidele raises stakes with mega rally The governorship candidate of the Labour Party (LP) in Ekiti State, Hon. Michael Opeyemi Bamidele last week Tuesday held a mega rally in Ado-Ekiti as part of his efforts at becoming the next occupant of the Government House, Oke Bareke, Ado-Ekiti. ADESINA WAHAB reports

hen he decided to contest the governorship election in Ekiti State where the sitting governor still wants to go for a second term and threw his hat into the ring, some did not take him serious. When he finally dumped the ruling All Progressives Congress (APC) for the Labour Party (LP), the cynicism got higher. But Hon. Michael Opeyemi Bamidele popularly known as MOB, who represents Ekiti Central Constituency 1 in the House of Representatives, has been trying to prove cynics wrong. Those cynical about the legislator’s move have their reasons. What MOB did, they argue, cannot be likened to what Governor Olusegun Mimiko did in Ondo State, where he left the Peoples Democratic Party (PDP) for the LP. When Mimiko left for the LP, it was like he took the entire structure of the PDP to the LP. State officials of the PDP, including the then State Chairman, Alhaji Ali Olanusi, followed Mimiko to the LP. Though a number of APC stalwarts also followed Bamidele to the LP and he even drew some members of the PDP to his side, some believe he still has a long way to go. Trying to prove that he has wide acceptance in the state, last September he wanted to formally launch his political group, Ekiti Bibiire Coalition, in a grand style. His supporters, drawn from across the 16 local government areas of the state were mobilised to Ado-Ekiti. The event initially went peaceful until it was disrupted by security agencies, but Bamidele eventually launched his group. Despite the fact that the crowd was impressive, his critics were still of the opinion that the support base would soon fizzle out. It was with that in mind that both his supporters and antagonists waited with bated breath for his mega rally of April 29, 2014. Why would the expectation not be high? His critics have been saying that his party has no support base in the state and that the recent congress of the party showed that it exists in only 55 out of the 177 wards in Ekiti. The mega rally was fixed to start by 10a.m. at the Ajitadidun Ground, Adebayo, Ado-Ekiti, but it didn’t start until about five hours later. As early as 8a.m., LP members and supporters started arriving the venue from all over the state. That is apart from others who had taken position at the palace of Ewi of Ado-Ekiti, Oba Rufus Adejugbe, on whom the candidate would pay a courtesy call. Other party members and supporters also waited at the Mobil Filling station, Ajilosun Road owned by an ally of MOB, Chief Remi Oguntuase. The programme did not, however, start until about 4p.m. when Bamidele and his team arrived the palace followed by a tumultuous crowd. Giving reasons for the delay while at the palace of Oba Adejugbe, Governor Mimiko said himself and the national leaders of the party had gone to Abuja to commiserate with Vice President Namadi Sambo who few days earlier lost his younger brother and were delayed in Abuja. The governor also said by the time the team entered Ado-Ekiti, the state capital, the huge crowd slowed down their pace and that for about a kilometre from the palace, that is Ijigbo Junction, they had to get out of their vehicles and walk to the palace. When Bamidele stood up to address the gathering, made up of traditional

Opeyemi Bamidele addressing the crowd at the event.

By God’s grace, I have been blessed and given what to live on. I am from a humble background and God has raised me up to be able to sit among princes and princesses. So, I know where the shoe pinches. I will run a government that has human face, I know how to handle issues to make life more abundant for the masses chiefs from all quarters of Ado-Ekiti, his first assignment was to apologise too. He expressed happiness that the monarch and chiefs still waited for him. Reeling out what he has been able to do for the people since his foray into politics, he sought the blessings and support of the palace. After the palace event, it took the team over an hour to drive from there to the venue of the rally because of the throng of people. The rally finally took off well after 5p.m. It was testimonies galore about the quality and character of Bamidele from people such as the National Chairman of LP, Barrister Dan Nwanyanwu; Ekiti State LP Chairman, Mr. Akin Omole; human rights activist, Yinka Odumakin, Prince Akin Olayisade, Comrade Joseph Akinlaja, and Alhaji A.A. Salam among other speakers. Nwanyanwu, in particular, said Bamidele’s decision to join the LP was a good political move, as he could realise his ambition in the party without bottlenecks. “There is no godfather who will bring him the list of commissioners if he wins the election. Nobody will sit in Lagos and order him to give contracts to people from outside the state which will lead to capital flight. “That is why our man, Governor Olusegun Mimiko of Ondo State is doing well. Apart from that, the good programmes of Labour Party that are being implemented in Ondo will be replicated here,” he said. On his part, Bamidele thanked the

L-R: Deputy Speaker, Ondo State House of Assembly, Hon. Dare Emiola, Governor Olusegun Mimiko, Bamidele; National Chairman of Labour Party, Dan Nwanyanwu and Hon. Joseph Akinlaja.

people for having faith in him. “Our critics say we have no support base. They say we have no structure in the state, but all eyes can see this now. We do not have to rent a crowd to give false impression about ourselves. I thank you all for believing in this project. I am not desperate to be governor. “It is not also because I am looking for a means of livelihood. By God’s grace, I have been blessed and given what to live on. I am from a humble background and God has raised me up to be able to sit among princes and princesses. So, I know where the shoe pinches. I will run a government that has human face, I know how to handle issues to make life more abundant for the masses. “The state lacks potable water, there is nowhere in the state where people have 24 hours access to water. Our state is agrarian and we will mechanise agriculture and reposition education in our state,” he said. Also speaking, Governor Mimiko said the difference between an LP-led government could be seen in the access people have to public utilities. “We have university in Ondo State, others build universities in Ekiti and Lagos for example, but the difference is in the quality and access by the people to the facility. In Ondo State, students in our university pay N25, 000, while in Ekiti they pay over N100,000 and in Lagos they pay over N250,000. How many people can send their children to such schools? “We have Mother and Child Hospitals in Ondo and we cater for people without financial load being put on their heads or hung on their necks and the facilities are accessible to all. “We are coming to make a difference

in Ekiti State and I don’t support a loser or somebody that will put me to shame and I am calling on Ekiti people to vote Bamidele in the election,” he said. He noted that the party would reduce the fees being paid by students in the Ekiti State University and other tertiary institutions. While urging the people of the state to vote Bamidele as their next governor, he described him as a man of character, integrity and a man who has a combination of uncommon virtues with the needed experience to deliver the dividends of democracy to them. Apart from the fact that the people still waited at the venue till few minutes to 7p.m. when the rally ended, a section of the adjoining dual carriage Ado-Ifaki Road was still full of supporters who had been singing and dancing since morning. Probably summarising the feelings of LP leaders and allaying the fear of doubting Thomases as to the level of support being enjoyed by Bamidele, an aide of Governor Mimiko, Mr. Eni Akinsola said: “People have been here since morning. Apart from the podium, there was no tent to cover their heads and no seats and they have been here all day long. “If this is a rented crowd, they would have left, no matter how much is given them. The people here are real passionate friends and supporters of Bamidele and with their support today, they have put to shame those who say he doesn’t have a structure base or acceptance among the people. I am really impressed.” The LP mega rally has come and gone, people trooped out in large number, but the work is not yet done until Bamidele translates the huge crowd to massive votes in his support on June 21.

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

MONday, MAY 5, 2014

A country of porous borders

omptroller General of the Nigeria Immigration Service (NIS), David Parradang, recently highlighted the porous nature of the country’s borders, while addressing the National Conference Committee on Immigration. He said that even though the country has only 84 approved land border control posts designated in the 1980s after the Maitatsine riots, there are more than 1,400 illegal entry and exit points. The number of illegal routes is 100 times more than the number of approved routes. In Adamawa State for instance, there are five control posts but over 80 illegal routes. Long before the current insurgency, smuggling had been a serious problem which various administrations had to grapple with, and which had negatively affected several economic policies. According to one of the reports by the World Bank, an astonishing N750 billion ($5 billion) worth of assorted goods are smuggled into Nigeria through Benin Republic alone every year. It should be worrisome to all concerned that this amount represents about 15 percent of total smuggled goods through that border. The World Bank report also claims it that over $400 million (N6 billion) representing about 25 percent of the total current annual revenue collected by the Customs Service is lost through nefarious smuggling across the sub-regional borders.

Thus it has been a longstanding problem with multi-faced causes as has been noted elsewhere, “that several trade-related policies instituted by the Federal Government are frustrated by poor border control. Unbridled corruption fuelled by greed and lack of patriotism is at the heart of the problem buffeting Nigeria’s borders. Security operatives and users of the land borders must share the blame for this. The nation’s porous borders arise as a result of poor law enforcement. The unbridled influx of goods and persons through the numerous land borders has constituted major threats to local manufacturing, the national economy and security of the citizenry.” These illegal routes have grave security implications. Boko Haram’s activities in Northern Nigeria (especially the northeast zone) have been exacerbated by Nigeria’s porous borders with Cameroon (1,690 kilometres) in the east, Niger (1,497 kilometres) in the north, Benin (773 kilometres) in the west, and Chad (87 kilometres) in the northeast. Most of these border areas are either mountainous or in the jungle. Irrespective of their geographic nature, a common feature of the nation’s borders is their porosity. Insurgents are using various smuggling methods such as the use of specially crafted skin or thatched bags attached to camels, donkeys and cows to bring in arms across the borders with the aid of accom-

plices. The activities of Boko Haram have cost Nigeria a lot in terms of human, material and financial losses. The Nigerian government has responded with different measures to weaken or defeating the group, of which military crackdown is the most prominent. The widespread availability of Small Arms and Light Weapons (SALW’s) has helped stoke deadly insurgency , demanding that something urgent must be done to stop the inflow and proliferation of arms in Nigeria. The porosity of Nigeria’s borders is an important factor in the survival of the insurgency, offering it a lifeline to external support from transnational groups in the form of weapons, training, radicalization, and funding. Thus, thorough shoring up of border security constitutes a critical component of any short-term measures to degrade the sect. The Nigeria government therefore needs to evolve a new approach to securing the border, one that includes an integrated mix of development interventions for border communities, trained and dedicated border officials, and enhanced border situation awareness infrastructure. All the war against insurgency and terror will amount to nothing at the end of the end of the day, if the borders are not properly secured. Nigeria should have the capacity and capability to close and open its borders at any given point in time. Nigeria cannot allow the

war on terror to extend to other parts of the country, the nefarious activities of these miscreants must be promptly curtailed, if this is not urgently done, all the funds voted to address terrorism would just have gone down the drain. Mr. Parradang has also revealed the extent to which NIS is facing difficulties in undertaking its operations successfully. He said that the Service requires an annual recruitment of 5,000 personnel for a period of five years to carry out its duties effectively. He added that the current 22,300 immigration officers were grossly inadequate to carry out the Service’s mandate. According to him, the mandate of the service includes issuance of passport, border patrol and other security-related duties among other functions. He noted that apart from the shortage of manpower, the Service was contending with other numerous challenges. Hence, the very exigent need to give NIS utmost attention to function optimally and play a pivotal role to deal with terror in the country. Besides it is necessary to create better understanding of the ECOWAS Protocol on the free movement of people. So far this has been misunderstood to mean entry without valid documents. This problem needs to be properly addressed so that the NIS will not be using its limited resources on searching for those without valid papers, when there are other serious challenges to contend with. GABRIEL AKINADEWO Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALLA Managing Editor, North AYODELE OJO Acting 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.

Monday, May 5, 2014

OPINION Those in favour of the Pope’s visit to Nigeria (1) Bashorun JK Randle

t is truly amazing how much heat is being generated by the invitation extended by Dr Goodluck Jonathan, President and Commander-In-Chief Armed Forces of Nigeria to Pope Francis I to visit our beloved country. Thankfully, our friends have arisen to the occasion and are backing us with both money and hope. Our President’s invitation was delivered on Saturday 22nd March 2014. On Monday 24th March 2014, The International Finance Corporation (IFC) which is the private sector arm of the World Bank announced that its Executive Vice President/Chief Executive Officer For Africa Mr. JinYong Cai was already in Abuja and we should await further announcements. We did not have long to wait. By noon CNN carried as BREAKING NEWS, a report beamed directly from the conference room of Dr Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance. First to speak was Mr. Cai: “IFC plans to commence an annual investment of US $1.5 billion in critical sectors of the Nigerian economy. The first tranche of the investment will be channeled into housing and infrastructure, particularly power generation and distribution. Natural gas is also on the priority list. Our yearly investment in Nigeria will be somewhat different from the World Bank loans which bear tenor and interest rate components. Rather, IFC would work with the private sector in carrying out the various projects with the Federal Government only providing the required guarantee for the Fund. As confirmation that this was the real deal, Dr (Mrs) Okonjo-Iweala declared: “I am truly elated that our discussions with the IFC team have yielded good (terrific) results. With the proposed yearly investment by IFC, the scope of investments in Nigeria

would have been expanded and consequently provide a tremendous boost for the Nigerian economy in the process.” However, Al Jazeera chose to play the mischief card by describing our Minister as a staunch catholic!! It did not stop there. It preferred to highlight the moving of the goal post by Nigeria: “Previously, Nigeria had boasted that it would achieve superstar status by becoming one of the world’s leading economies by 2020. Now it is aiming to become the 15th largest economy in the world by 2050.” It then proceeded to describe the soothsayer as a catholic priest. Fortunately, before the day was over, it corrected itself and carried the following sober report: “Mr Jim O’Neil, former chairman, Goldman Sachs Asset Management, made this assertion in his address. “From BRICS to MINT: The centrality of education and learning to nation-building and economy” at the closing of the 20th Nigerian Economic Summit (NES), yesterday in Abuja. He said economic growth is driven over a long time by two things; the size of the country’s labour force and its productivity, noting that Nigerian has both. Speaking to student representatives from across the country at the summit, he said Nigeria will be the 15 largest economy in their time. He said the country has a large and young population, noting that these are variables that will take the country to that position. “If this largest population can be honest, you will be the 15 largest economy in the world by 2050 and possibly it will be for the young population to deliver what they desire for the nation,” he said. O’Neil said when he was of the age of the children representatives, the wealth of South Korea was the same as that of present day Nigeria but that today South Korea has wealth level very similar to that of most G7 nations. “They had large populations that brought that change and the same can happen in Nigeria.”

The student representatives, among other things, desire to see Nigerian schools that will truly represent what the nation should be, where learning is practical, where parents will spend more time with their children, where they are not judged by grade but by what they can offer, where there is no lack of electricity and where there is no gender disparity.” Those who are determined to sabotage the Pope’s visit are leaving no stone unturned. The international press is clearly on their side. Here is the witness statement of “Daily Mail” newspaper (published in London): Headline: ‘KIDNAPPERS’ DEN “Bound in chains next to corpses, Nigerian kidnap victims found in the House of Hell where they were to be sacrificed in black magic rituals by human organ traffickers. • Several severely malnourished people found wandering around • Some victims of kidnapping are often sacrificed in black magic rituals Rotting bodies and skeletons have been found inside an abandoned Nigerian building which has been dubbed a ‘House of Horror’. Nigerian police rescued several severely malnourished people found wandering in the bush near the building in the southwestern city of Ibadan, and more were found shackled in leg-chains inside. The grisly discovery came after a group of motorcycle taxi riders reported that some of their members had gone missing and were believed to have been kidnapped. ‘When we got to the abandoned building in the Soka community of Ibadan, we saw decomposed corpses, skeletons and skulls in the building and surrounding bushes,’ said Oyo state police spokeswoman Olabisi Ilobanafor. • Bashorun J.K. Randle (jkrandleintuk@gmail.com) writes from Lagos

The media and promotion of instability Ofole Okafor

igerian politics is gradually taking a hue that should bother all lovers of the country. This has to do with the increasingly negative role being played by media practitioners, members of the so-called Fourth Estate of the Realm. A deliberate attempt is being made in the print, electronic and social media to blanket in negativity issues that are clearly seen through the prism of partisan politics. Mendacity has taken centrestage. It is like Nigerian media has swallowed hook, line and sinker, the propagandist policy of the Nazi, to wit, tell a lie, tell it repeatedly, and people will begin to believe it. Let us take the case of the torment which Mrs. Diezani Alison-Madueke, the Honourable Minister of Petroleum Resources, has had to face in the hands of the media. I must state in parenthesis that I use the media here but only in the general sense because the culprits are actually sectional and blackmailing in essence. Now, Sanusi Lamido Sanusi, the suspended Governor of the Central Bank of Nigeria (CBN), writes to the President alleging that huge sums are missing from the accounts of the Nigerian National Petroleum Corporation (NNPC). While he was submit-

ting his written accusation to the President, he ensured that a copy of his wild claims was made available to the punitive media. Before long, the storm burst. All over the place, there were media reports quoting Sanusi to the effect that billions had gone missing at the NNPC. The desired hysteria had been achieved, without an iota of investigation. When the House of Representative looked into the matter, Sanusi reversed himself downwards regarding the sum he claimed was missing. Without any apologies, he went on record a second time to reduce the figure he claimed was missing. Ordinarily, this was enough to put into serious question the integrity of Sanusi’s charge. But the media that latched onto his every vomit and broadcast it with relish failed to interrogate Sanusi’s whistle-blowing credibility. Not to worry, the Presidency did what any responsible government would do. It ordered a forensic audit of NNPC accounts. A patriotic media would await the report of this forensic audit before carrying on. But not in Nigeria, where the sectional press and political blacmailers continued to bay for the blood of Alison-Madueke and that of Mr. Andrew Yakubu, the Group managing Director of the NNPC . There is another angle from

which to look at the issue. Shortly after the fiasco of Sanusi’s flagrant allegations, the issue of aircraft usage by Alison-Maduaeke surfaced. They – the sectional press, amplifying wild claims from the floor of the House of Representatives – started disseminating the story that the Petroleum Minister had to her exclusive use a private aircraft into the maintenance of which a whopping N10 billion had been sunk in two years. Predictably, a new hysteria surfaced. The sectional press went to town again. They called for Alison-Madueke to be fired. They wrote incendiary editorials alleging that she led an extravagant lifestyle unsustainable by Nigeria’s finances. But on Minister’s lifestyle, the maligners produced not a shred of evidence to support their actionable effluvia. Yes, they did “justify” their call for Alison-Madueke to be fired or, at least, suspended. Sanusi had been suspended from his governorship of the Central Bank, they correctly stated. So, why not Diezani Alison-Madueke? In their hate, they forgot that there was a stark difference between what led to Sanusi’s suspension and the allegations against the Oil Minister. Sanusi was investigated by the Financial Reporting Council (FRC), a legally constituted

body in existence well before Sanusi’s appointment. The FRC indicted Sanusi on countless grounds. On the strength of this, the Federal Government took the wise decision to separate him from his job pending a scrutiny of and necessary action on the substance of his indictment. This is far from the case with AlisonMadueke. Her use or none use of private or public aircraft has not been investigated. The gargantuan sum of N10 billion allegedly burnt in servicing the so-called aircraft remains no more than a wild figure thrown up by blackmail to elicit odium and hysteria. So, why should a serving Minister of the Federal Republic of Nigeria resign her appointment or be sacked on the strength of allegations uninvestigated? Why should Alison-Madueke be suspended when there is no indictment against her? Why are her traducers so impatient that they cannot wait for the forensic audit of the NNPC to be conducted and concluded? Why are they so impatient that they cannot wait for the House of Representatives to finish its oversight function of investigating the allegation of use of private aircraft by the Oil Minister? • Mr. Okafor ( ofoleokafor@gmail.com), a TV producer, wrote from Awka, Anambra State.

INVESTIGATION

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Monday, MAY 5, 2014

Nigerian soldiers arriving in Yola, Adamawa State after declaration of emergency

War against Boko Haram: The untold story Ibrahim Abdul Yola

s the war against Boko Haram continues, with the belief in some quarters that the insurgency is a contraption to whittle down the economy of the North, some soldiers drafted to the war front in Adamawa, Borno and Yobe states, in a new twist that those with such belief may not be wrong after all. These soldiers, who are among those currently serving in the Boko Haram plagued area, are claiming that the military is part of a grand conspiracy to ensure that Boko Haram insurgency persists, for pecuniary reasons. And that some Army Generals are siphoning the security funds into their private pockets. This twist is coming on the heels of criticisms by governors of the most affected states of Borno, Yobe and Adamawa that the Federal Government, which controls all security agencies,

has failed . Governor Murtala Nyako of Adamawa State, it could be recalled had raised some questions. Said he: “There is no excuse whatsoever. We want to know more from the authorities. By now, the authorities should be able to know what is happening. We should be able to know where these arms are manufactured and even the signatures of the weapons. We ought to know who ordered it, who paid for it, how did it come into the country, from where were they shipped, through which port in Nigeria they arrived and who cleared it. “President, vice president, governors and the military – they are the only groups that pass checkpoints without being searched and which of these groups are conveying these arms to the scene of the action. We want to know.” The governor alleged that the army often failed to respond during the

course of attacks by the outlawed sect, and demanded to know why there was always delay in the military’s response to attacks. “The other aspect is that army withdrew from the checkpoints. Take the case of attack in Yadi –Buni. Who ordered the withdrawal? We also have a case where General Shuwa was killed by so-called Boko Haram. There are army units there but they didn’t respond during the incident. Who told them not to respond, when Shuwa was being attack? “The air force base was being raided, there is unit of army nearby, who gave them order not to response until all the aircraft were destroyed? “These are questions that need answers. So, either this thing is controlled by unknown fellows or unknown Boko Haram strategic commanders in the defence system or staged-managed. We have reached a point to come out and tell them our displeasure over the way the situation is escalating,’’ he added.

He said the recent attacks by Boko Haram had ridiculed President Goodluck Jonathan’s claim of success against the sect. Alleged conspiracy Just like the governors, some disenchanted soldiers deployed to the war front are also alleging that the Nigerian Army is part of a grand conspiracy to ensure insurgency persist in the North. In telephone conversations, the soldiers who don’t want their names and ranks to be made known for fear of victimisation, said that there is a conspiracy. “They came in droves driving about 20 pickup trucks accompanied by two light armored tankers, all wearing our military colours – desert-camouflage . We had to retreat to our base to reinforce after running out of arms. But they followed us down there, surrounded our base and began to shell our building. We CO NTINUED O N PAGE 22

22 INVESTIGATION

Sanctity of Truth

Monday, May 5, 2014

‘Nigerian Army lacks anti-tank weapon’ CONTINUED FR O M PAGE 21

couldn’t stand the heat of their superior fire power. We had to retreat into the village after they killed two of our soldiers and three policemen. They left with an armoured tanker and four military patrol trucks,” one of the soldiers recalled. Prolonged stay on war front These soldiers battling insurgents are also lamenting alleged decision of the military authorities to keep them in the war front beyond the officially stated time. The soldiers lamented that they have stayed beyond their regular period of deployment. Many of them claim they had spent over two years instead of the approved six months on the war front. They implored their superiors to adhere to the practice of routine troops rotation. “We have been in this operation for almost two years, since our return from Liberia, and we were supposed to be here for six months. You, journalists, are supposed to beam this to the world that troops are made to suffer unnecessarily even though funds are being released for their welfare. “Unlike before, our allowance are being short-changed. Instead of the complete, N30,000 monthly allowance that we are used to getting, they have reduced it... We have not seen our wives for nearly two years,” said one disgruntled soldier manning a checkpoint in one of the border towns. Investigations revealed that in Yobe and Borno states, many of the soldiers had been there since last two years, several months before the state of emergency declaration in Adamawa, Borno and Yobe states. ‘’It is commonplace for the military, both in Nigeria and globally, to rotate troops based on approved schedule for specific missions,’’ said a top retired military brass. Another soldier said due to the prolonged stay in the state, some of their wives have relocated to join their relations and families. “Our wives thought we were dead when they did not see us return home after nine months and decided to go back to their family houses or to our relations. “You, the media, are our hope when you speak through your medium the world would know how we are faring but I tell you it is not palatable at all,” the soldier said. Generals enriching themselves During the interviews, the soldiers further alleged that their generals and other officers were enriching themselves even as they (soldiers ) in the frontline were living in squalid conditions and suffer from extreme deprivation as well as lack of basic facilities. The soldiers decried operational tactics used by the top brass who decide how to run the counter-offensive against Boko Haram insurgents. They explained that it was their common view that their commanding offi-

cers’ decisions were informed primarily by a desire to enrich themselves at the expense of the welfare and morale of soldiers and the effectiveness of the overall fight against Boko Haram. They wondered why three different units with separate command structures have been stationed in the same barracks located along Maha Road in the Mubi Local Government Area of Adamawa State. ‘’In order to respond to the attacks of Boko Haram, the Nigerian Army Headquarters deemed it necessary to form a Special Operations called Army Headquarters Special Operation Battalion (AHQ SOB), with headquarters and base camp on Maha Road in Mubi. The members of the unit, including officers and soldiers, were selected from various army barracks all over Nigeria,” an army officer said. According to him, the soldiers in the unit are regularly replaced by other soldiers from their respective barracks. “The SOB has so far recorded great successes in their area of responsibilities (AOR), even though they have major problems,” another source disclosed. Most officers in the Nigerian Army are questioning the decision to form another battalion called Forward Operation Battalion (FOB) and place its members in the same barracks in Mubi. “The FOB is a specially formed battalion carved out from 23 Armored Brigade, Yola,” stated one of our sources. In his words, “Its area of responsibilities (AOR) is the same as that of the Special Operation Battalion (SOB). Why then are the two battalions given the same area to operate in? And why is the FOB base camp also situated in the same base camp with the SOB?” Different sources disclosed that the duplication of tasks is a way for the different commanding officers to pocket a huge chunks of the funds meant for the war against Boko Haram insurgents. “The whole thing amounts to a waste of public funds. The generals in charge are receiving funds for two separate operations and two separate bases, but it is the same operation and the same area of responsibilities. This is a formula for some generals to siphon money,” fumed another commission officer. Another soldier alleged that soldiers’ welfare and the supply of adequate weaponry have suffered due to the greed of some generals. “Why is it that both SOB and FOB base camps are situated within the same fence?” asked a source. A different source corroborated that: “They cover the same area of responsibility, but have different commanding officers and different budgetary allocations. And why is it that there has not been any special improvement in their operations.” The sources recalled that in November 2013, the Army organised a unit made up of 10 officers and 360 soldiers to make a foot advance into Izhge Village in Gwoza Local Government Area of Borno State. This new formation,

Where food is cooked

Soldiers source of water in camp

according to sources, was named Task Force Mike (TFM). “The soldiers [in the unit] were picked from the Special Operation Battalion (SOB), the Forward Operation Battalion (FOB), from 232 Armored Battalion, Yola, from 20 Battalion, Serti Baruwa, Taraba State, and some others from Sokoto State. “Now, SOB, FOB and TFM are the same set of troops, spread aimlessly across just one area of responsibility (AOR) with different budgetary allocations,” said an inside source. All the soldiers maintained that, despite the three-fold allocations coming to the same base, the troops still faced incessant attacks and frequently sustained casualties from Boko Haram insurgents. “This is because we lack arms and ammunitions” one source stated. “And worst of all, welfare is very poor.” The soldiers cited a February 12, 2014 attack by Boko Haram militants on one of their defensive locations. According a source, “The attack came at exactly 12 midnight by the strongly prepared Boko Haram insurgents. They are strongly prepared because they have first-class warfare weapons.”

The sources said the insurgents were equipped with night vision goggles (NVG) that enabled them to see the soldiers easily, even in the dark. “They also drove in armored personnel carrier (APC) with a BMG mounted on it. Their footmen were armed with assault rifles, hand grenades and rocket-propelled grenades (RPG),” said one source, adding, “The Nigerian Army troops in Izge do not even have an anti-tank weapon let alone an APC.” Soldiers fed poorly In addition to being poorly armed, several soldiers decried that they were also poorly fed. One of the soldiers revealed that : “We feed poorly every day. We are given a maximum of three sachets of pure water a day even in the hot desert temperature. Soldiers are not issued any sleeping kit, so many of us sleep on bare dusty ground, no tents to lay our heads on. We are made to lie openly under the scorching sun and the night stars.” Investigations further revealed that some soldiers have been able to make their own individual make shift thatched CO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, May 5, 2014

Corruption, conspiracy allegations are part of smear campaign against military – Defence Headquarters In this interview with our correspondent, EMMANUEL ONANI the Director of Defence Information (DDI), Major-General Chris Olukolade said the allegations of compromise, corruption and conspiracy in the war against insurgents in the North-East are part of deliberate campaign by some entrenched forces, to smear the image of the wNigerian Armed Forces. Excerpts: Some of your men in Yola, the Adamawa State capital, have alleged that their Commanders are shortchanging them, in terms of their allowances. Also, that some of them have exceeded the six months period of engagement, without being relieved. How would you react to all these? First of all, I want you to bear in mind that you are not the first journalist coming with story, as some of it is already online, even as several other media organisations have been given the same complaints. That is to give you an idea that that is a campaign with questionable intentions. The reasons for my belief that this is a deliberate campaign to undermine our sincere efforts are that, one: every genuine officer or soldier knows the appropriate procedure for raising weighty complaints such as this, and they know that the authorities have ways of dealing with such allegations. So, if anybody now chooses to use the media or the international channel, then his motive, definitely, is not professional. On the issue of allowances, I make bold to say that no officer of the Nigerian Armed Forces has the capacity or can explore any loophole, to steal the allowances due to any officer or soldier. Maybe for procedural reasons the money or entitlements may not have reached them at the moment, but that may be related to financial regulations, which we need to comply with, and also post properly. So, procedures are on to make sure they are paid their allowances. These soldiers know that occa-

sionally, these allowances are even paid in arrears. This is not as general as the impression has been given. There must be a genuine reason, if anyone of them has not gotten his allowance, that will most likely be related to procedural issues. All I can assure them is that once those procedures are completed, they will get their money. Nobody can steal that money from them. What is your reaction to the claim that some of your soldiers have exceeded the six months period of engagement, without being rotated? In respect of the allegation that some of them have over-stayed on the war front first of all, I must tell you that in internal security operations, nobody give anybody a tenure. It could happen in foreign peacekeeping; but, when operating within the country, they are paid to defend and soldiers are posted. So, they should not be relating the standards of the Union Nations on Peacekeeping Missions with us operating within the country. And so, anybody making such complaint has a motive, and such motives to all intents and purposes, are related to cowardice. But, the authorities know the appropriate time to rotate, and that is a strategic decision. And, if soldiers or anybody is exhibiting indiscipline tendencies, either for fear of being embattled and is generating non-existing conditions, then he can only say that to the media and not to the authorities. This is because, soldiers know that the authorities take decisions and they (authorities) know

Olukolade the appropriate time that anybody is due for rotation. So, to say six months, is not appropriate or even two years; postings are determined at the headquarters. Postings are determined based on needs. Some of the soldiers making such complaints will be in foreign missions and be lobbying for extension, but because we are operating in the country, and the condition may look dicey, they now feel that they must generate issues, with a view to putting the authorities under pressure and get out of performance. This is an act of indiscipline. There is also the allegation of conspiracy against a certain region. What is your reaction to that? On the allegation of conspiracy and corruption, I want to say that these are deliberately intended to smear the image of the Nigerian Armed Forces. As it is, nobody is praying to use this situation for corrupt enrichment. Everybody is concerned about it. And, don’t be surprised that those generating these allegations

are equally interested in leaving the area, regardless of whether or not the laudable intentions of government are achieved. Government has a good intention of declaring a state of emergency in the three North-East states, and the interest of every officer or soldier, should be primarily of accomplishing that mission. The question that arises here is: has the mission for the state of emergency been achieved? If it has not been accomplished, why then is the haste to get out, when the political authorities have not given the directive to so do? So, alleging corruption is just an attempt to smear the system, for selfish intention. Do you subscribe to a further extension of the emergency rule, in view of the opposition in some quarters against such moves? Any decision taken by the political authorities regarding the state of emergency will be implemented by the military.

‘Soldiers’ allowances can’t be stolen’ CON TINUED FR O M PAGE 22

pavilions knowns as “Gidan Zana,” a kind of house made of shrubs and grasses. The soldiers also wondered why their commanders had not yet commissioned the newly formed and built barrack within the same base camp in Mubi, Adamawa State. Similarly, other soldiers called for the disbandment of the SOB, FOB and TFM and sending the soldiers back to their respective original barracks for proper re-organisation. “There is no point making troops hide under three different operational tags just because some greedy

Generals up there want to redirect the flow of money,” they stressed. In the meantime, efforts to get the army public relations officer Capt.Jafaru Nuhu to comment proved abortive as he declined to pick calls, so also Lt. Col. Beyidi Martins, the Commanding Officer, the Nigerian Military Special Operation Unit, Mubi Battalion, as his GSM phone lines were switched-off as at the time of filing this report. Army refutes allegations However, speaking in an exclusive interview with New Telegraph on Friday, the Director of Defence Information (DDI), Major-General Chris Olukolade, questioned the motive of any soldier,

who complains in public, noting that such development smacks of indiscipline and mischief. The DDI said it was unprofessional of any officer or soldier, to use the press as a veritable platform to ventilate perceived grievances, since there is established procedures for such cases to be addressed. In refuting the allegation that allowances of soldiers were being cut, Olukolade said: “I make bold to say that no officer of the Nigerian Armed Forces has the capacity or can explore any loophole to steal the allowances due to any officer or soldier. Maybe for procedural reasons the money or entitle-

ments may not have reached them at the moment, but that may be related to financial regulations, which we need to comply with... “So, procedures are on to make sure they are paid their allowances. These soldiers know that occasionally, these allowances are even paid in arrears. This is not as general as the impression has been given. There must be a genuine reason, if anyone of them has not gotten his allowance, that will most likely be related to procedural issues. “All I can assure them is that once those procedures are completed, they will get their money. No body can steal their money.”

24 INVESTIGATION

Sanctity of Truth

Monday, May 5, 2014

‘Boko Haram can be dealt with in one day if there is sincerity’ Recently one of the disenchanted soldiers told VOA Hausa service, that the military was part of the grand conspiracy to ensure that Boko Haram insurgency persisted for pecuniary reasons. Below are excerpts of the interview with soldier, who craved anonymity as transcribed by our correspondent, IBRAHIM ABDUL in Yola

Troops of Nigerian army

May we know who you are? I am a Nigerian soldier but I will not disclose my name for the fear of persecution. What do you want to tell us? I want to tell the world that the Nigerian Army has actually dumped us at Konduga to our fate. And it appeared that they don’t care about the fact that we are being killed one after the other. I don’t think it is right for a Colonel to come and corral us into following him to Bama without telling us where he was taking us to. Before we knew what was happening, we found ourselves near Sambisa and there and then the Colonel asked us to go forward and gave us two different Army uniforms. We at the front were given camouflage while he gave his troops green uniform. After pushing us to the centre of the war front, the Colonel withdrew all his troops together with the tanks and left us from Konduga to face the enemies giving the enemies the leverage to kill us in numbers. Why is this happening and why are they jeopardising innocent souls? I was at a loss when the Colonel said since the beginning of the onslaught no one among our troops from Konduga was killed. How is it possible that the Boko Haram camp is located less than a kilometre to the Bama camp and the military did not do anything about it. My surprise was that there were many mercenaries among our enemies and these mercenaries were Nigerian soldiers. In fact, some of them actually trained us at Kontagora. They were hired to do the

Boko Haram fighters

dirty job. There are some of them whose names I cannot recall but there are some that I really know and they even trained us the tactics of fighting insurgents but alas they were deeply involved in terrorism and they were behind the killing of Nigerian soldiers. Who are these mercenaries fighting, are they fighting you or Boko Haram elements? One surprising thing is that the soldiers from Bama 202, who escorted us alongside their tanks, withdrew from the operations. And they said the reason for their withdrawal was that since the beginning of the operations, we never recorded casualties. I believe their antics is a wicked design to get us killed. That is why they sent us with AK 47 assault rifles to fight with people who possessed AA, BMG and LMG. How can someone with AK 47 fight someone with LMG, AA and MG. What do you think is the reason for the strategy...in which the military fight each other? I am telling you with all sense of honesty that the government is just doing business with our lives to fulfill its selfish goal. If there is sincerity of purpose, Boko Haram can be dealt with in one day. Whoever said any genuine war against Boko Haram will take two or three days is just lying. The fact is, in one day, Nigerian Army can crush Boko Haram. But I must tell you that the Nigerian Army is not ready for that and I will not be party to those whose life would be at stake. My life is important to me and I cannot resolve the problems of Nigeria. In fact ,they have refused to pay us even our allowances from January till date. You can tell the world that. Up till now I have not

got more than N50, 000 but still my life was at stake. Since January, I was prevented to go for Sallah and Christmas break as we were sent for that useless training in Kontagora. We came here fully trained but were denied working tools. We were denied even common life jackets. Our complaints have also fallen on deaf ears as we are always told that we are fighting mere Almajiris. But I must state here that we are not fighting Almajiris. We are actually fighting soldiers trained from abroad including indigenes of Niger, Chad and Libya.

are manufactured from Kaduna, who gave them these bullets. The world should know that and it is high time to prevent the military authorities from wasting the precious lives of soldiers because they also have families.

Are there non-Nigerians among the Boko Haram elements? Yes there are Libyans, Nigeriens, Chadians and Nigerian soldiers who are playing the role of mercenaries who will later go back to their various formations.

So, does that justify the talks gaining grounds that the insurgents are better equipped than soldiers? I swear, the insinuation that the Boko Haram is better equipped is not a vain one. The Nigerian Army has state of the art weapons but we are not getting them. We are being deceived right from Kontagora when we were given LMG which we used for our training but since we came here they just feed us with lies. They said they will give us LMG but they refused to bring them to us. They brought an unhealthy commander. Right now he is under admission receiving doses of drips. He refuses to even eat because he knows he was brought here to be killed.

Are all these people fighting for Boko Haram against the Nigerian Army? I think the game plan is that on learning that many of us were killed, the GOC will get millions of naira in order to purchase weapons and other equipment. The truth is that the GOC will end up pocketing the money. He has failed to supply us the long range Modern Machine Guns (MMGs) he promised us but only gave us the outdated ones with small magazines and by the time you fire two shots, you will be exhausted. Are there other soldiers who share the same views with you? Of course, we are many and between 9:00 p.m. till 6:00 a.m. of Friday, we came under intense fire and to be precise their weapons are more potent than ours. Their bullets

Are there many soldiers like you that... Those that are camped here are mostly Boko Haram elements, otherwise how can they remain here for close to five years and yet the distance between the soldiers and the enemy is not more than two kilometres and no group attacked the other for almost five years.

In your estimation, what do you think is the reason for all these troubles? I am telling you this government is only doing business with our lives. And in their quest to get the money, they felt that our lives are no more important. Boko Haram can be defeated in a day. But it seems the Nigerian Army is not ready to crush Boko Haram.

BUSINESS Sanctity of Truth

Monday, May 5, 2014

MONDAY, MAY 5, 2014

WHAT'S NEWS Fuel-efficient vehicles: UNILAG, UNIBEN break record Two Nigerian universities; University of Lagos (UNILAG) and the University of Benin (UNIBEN) have broken records by designing and building the first ever fuel-efficient vehicle in sub-Saharan Africa.

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Nigeria, others’ oil exports to Asia fall to 1.72m barrels Nigerian and other West African oil exports to Asia are set to fall to around 1.72 million barrels per day (bpd) this month from 2.05 million bpd in April, a survey of traders conducted has revealed.

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Sell pressure drags down equities Contrary to the expectations that earnings being posted by quoted companies at the Nigerian Stock Exchange (NSE) would spur positive confidence inthe equities market, sell pressure dominated the Nigerian bourse last week as the bears maintained a stronghold on trading activities in spite of the gains recorded on the last two days of trading.

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Over 70% insurers yet to forward 2013 account details

The sudden impact of the introduction of the International Financial Reporting Standard on insurance operators is still taking its toll on the industry as majority of them are yet to forward their account details to the National Insurance Commission for scrutiny.

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

RED ALERT Security checks increased at major airports to ensure safety of live and property

CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter

www.newtelegraphonline.com/business

MILLION JOBS –UWAJE }p-28-29

AYODELE AMINU, DEPUTY EDITOR, BUSINESS

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

Passengers to experience delay Vehicles not allowed near terminals

Wole Shadare

s a sequel to the rising insurgency in the country, the Federal Government has increased security checks at all Nigerian airports including Murtala Muhammed and Nnamdi Azikiwe International Airports. The new security measure is to ensure that security operatives are alert to be able to repel threats to air safety and to protect the airports, which could be easy targets for members of the Boko Haram sect. Consequently, the government has noted that intending travellers may experience traffic build up due to diversion of vehicles approaching the departure area and risk of missing their flights due to excessive traffic approaching the airport terminal. It equally stated that unauthorised vehicles approaching the terminal may also experience delays due to expected traffic from the diversion of vehicles.

L-R: General Manager, Listings, Sales and Retention, Nigerian Stock Exchange, Taba Peterside; Head, Business Development, Europe and Africa, Toronto Stock Exchange, Graham Dallas; Business Development Manager, Johannesburg Stock Exchange, Tamsin Freemantle; Senior Manager, Primary Markets, London Stock Exchange, Darko Hajdukovic and Managing Director, Investment Banking, UBA Capital Plc, Wale Shonibare, during UBA Capital Plc’s hosting of international exchanges in discussion on dual listings for oil and mining firms held in Lagos.

In a related development, one of the biggest European airlines operating to Nigeria, the British Airways, has

intimated its customers of the new security measures at Nigerian airports as handed down by the Federal Airports

dueke had announced last November that the new marginal fields' bid round would be completed by March 2014. But one month after the promised deadline (April, 2014), the DPR is yet to make available, the list of fields to be auctioned. Amao stressed that oil and gas business has global standards, which must be followed. She said; “We are now probably a laughing stock because

Authority of Nigeria (FAAN) to ensure that travellers booked on the airline do not miss their flights. The carrier in a statement last Friday said that effective May 1, 2014, only crew buses, airport operational vehicles, VIP, as well as government and military vehicles would be allowed to approach the airport terminal building. Other measures are that intending passengers can no longer be dropped off at the departure area or picked up from the arrival areas of the airport; all intending passengers (with luggage) are now to be dropped off at the departure area or picked up from the arrival areas of the airport; arriving passengers are to either join the shuttle bus provided by FAAN from the car park or walk to the departure termi-

CONTINUED ON PAGE 26

Marginal field bid: Nigeria now a laughing stock, says expert SEALED LIPS DPR keeps mum over bid round Adeola Yusuf

he manner in which the new marginal field bid round is been handled has turned Nigeria into a laughing stock before the interna-

tional community, Oil and gas expert, Dr. Ibiloloa Amao, has lamented. Specifically, he said the Department of Petroleum Resources (DPR) need to up its ante in the way the new marginal field bid round is being handled. Amao said this in an online interview with New Telegraph from London, United Kingdom (UK). The minister of petroleum resources, Diezani Alison-Ma-

Rates Dashboard

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

NEW TELEGRAPH

Insurgency: Govt issues fresh guidelines to protect airports

WOLE SHADARE, Aviation Editor CHRIS UGWU, Capital Market Editor

SOFTWARE INDUSTRY25 BUSINESS | BRANDS & ADVERTISING CAN CREATE OVER THREE

INFLATION RATE March 2014...........................7.08% February 2014........................7.70% January 2014 ........................8.00%

LENDING RATE InterBank Rate . . . . . . . . . 10.50% Prime Lending Rate. . . . . 16.93% Maximum Lending Rate..25.83%

EXCHANGE RATE

(Parellel As at May 2)

USD . . . . . . . . . . . . . . . . . . N169.50 Pounds . . . . . . . . . . . . . . . . . . N284 Euro . . . . . . . . . . . . . . . . . . . . . N236

EXCHANGE RATE

(Official As at May 2)

USD . . . . . . . . . . . . . . . . . . . N155.73 Pounds . . . . . . . . . . . . . . . N262.70 Euro . . . . . . . . . . . . . . . . . . N215.88 Source: CBN

26 BUSINESS | NEWS HISTORIC Nigerian Varsities to compete at 75 year-old Shell Eco-marathon in Rotterdam

Adeola Yusuf

wo Nigerian universities; University of Lagos (UNILAG) and the University of Benin (UNIBEN) have broken records by designing and building the first ever fuel-efficient vehicle in sub-Saharan Africa. The two institutions are billed to take their innovations to the 2014 edition of 75 year-old Shell Eco-marathon Europe, the first teams from Sub-Saharan to enter the global event. The Shell Petroleum Development Company of Nigeria (SPDC) Ltd operated Joint Venture is sponsoring University of Lagos and University of Benin to the event, which holds in the Dutch city of Rotterdam, May 15 – 18. Last year, students from the Ahmadu Bello University, University of Lagos and University of Benin attended Shell Ecomarathon Europe as observers of the 2013 edition on SPDC JV sponsorship. Since then, the students from Lagos and Benin have successfully built cars that are being sent to Rotterdam this week, in line with the main objective of Shell Eco-marathon: to challenge students from around the world to design, build and race fuel-efficient vehicles. The judges will be looking to reward the cars that drive farthest with the least amount of fuel. “We are pleased to take our students to Europe,” said SPDC Managing Director and Country Chairman, Shell companies in Nigeria, Mutiu Sunmonu, in a statement. “As first time entries, we’re modest in our expectations from Team Nigeria, but to scale through the technical qualification phase is itself a reward. We want to focus attention on the future of energy in a world with a rapidly growing population, and we believe the undergraduates travelling to Rotterdam will help push the boundaries of this discussion. At Shell, we use human ingenuity, innovation and technology to unlock the energy our customers need.”

Sanctity of Truth

Monday, May 5, 2014

Fuel-efficient vehicles: UNILAG, UNIBEN break record The SPDC JV has supported the teams of engineering undergraduates to design and build cars, which have been tested to cheering crowds on their cam-

puses. A Professor of Electrical/Electronic Engineering, Ike Mowete is leading the team in Lagos, while a Professor of Mechanical Engineering, Akii Ib-

hadode heads the Benin group. The students from the University of Benin have named their car “Tuke-tuke,” while that of the University of Lagos is

L-R: Chief Representative, Middle East and African Regional Office, Institute of International Finance(IIF), USA, Mr. Wolfang Engel; Group Managing Director/Chief Executive Officer designate, Skye Bank Plc, Mr. Timothy Oguntayo; Director, Global Events, IIF, Mr. Abdesattar Ouanes and the Head, Corporate Planning and Strategy, Skye Bank, Mr. Tajudeen Ahmed, during the visit of the IIF team to Skye Bank.

Insurgency: Govt issues fresh guidelines to protect airports C O N T I N U E D F R O M PA G E 2 5

Taskforce on Airport Security had a hectic time enforcing an order to remove protocol officers attached to state governors, influential citizens and others attached to high ranking government officials from major airports across the country. The forceful ‘arrest’ and removal of the personnel last Friday led to fisticuffs, with many of them claiming that they needed to get permission or directive from their principals to comply. The situation led to pandemonium around the vicinity and inside the Lagos airport terminal. Many who were not sure

of what was happening scampered for safety as they were said to be scared by the presence of heavily armed security personnel. Others who were approaching the airport had to turn back thinking there was a breach of security. Some were seen informing others that there was a bomb scare, but an eye witness who spoke to New Telegraph at the Lagos airport yesterday under a strict condition of anonymity, said that the task force came in three Hilux buses, brandishing weapons. According to the source, they immediately moved to the baggage clearance area of the airport with a view to whisk-

ing away people who are not authorised to be in such sensitive areas. A visit to the area yesterday showed that calm had returned to the airport as travellers and other users of the airport conducted their affairs peacefully, devoid of the usual siren blazing from top government officials and their protocol officers who practically shove other people aside, especially during peak hours. To ensure security of the nation’s airports, the Federal Government had barred all military and civilian protocol officials from the restricted areas including the arrival and baggage halls at the five international airports in the country.

Marginal field bid: Nigeria now a laughing stock, says Expert C O N T I N U E D F R O M PA G E 2 5

we went ahead to announce a bid round with a set timetable that seemed rather ambitious, commenced a road show and then went silent on the existence of 31 or 29 marginal fields.” The original programme with timelines provided by DPR, according to the Project Initiator/Director of Youth emancipation programme tagged; Vision 2020, “indicated that the bid rounds would be concluded by March and the winners of the bids would be announced in April 2014.”

She added: “Today, we are nowhere near any announcement of winners and a visit to the DPR website would confirm that with a notice to prospective bidder’s which states: “The modalities on the impending Marginal Field Bid Round shall soon be uploaded on this site in due course.” Where else in the world can this play out? “To think that many credible Nigerians were able to identify serious minded investors, invest time, effort and resources to develop strategies, plans and put agreements in place with

the anticipation that a bid round had commenced shows how far from serious we have become as a nation.” She insisted that the future of the Nigerian economy, nay oil and gas depends on the youth. “I made a pledge in 2006 to embark on a 15 year project that would empower, educate and enlighten youths and by the 31st of December 2020, I would evaluate the progress made and recognize those who contributed to touching the lives of the over 100,000 game changers,” she said.

Amao explained: “Producing a critical mass of strategic thinkers and planners who are people of integrity and patriotic to the cause of a better Nigeria seems not to be the priority of government. “It is my prayer that these ones that we have sacrificed much to expose to excellence in Science, Technology, Engineering and Mathematics would one day become the leaders who would take Nigeria from its wasteful culture that is plagued with greed and corruption, to one that is fully strategic in creating and adding value.”

known as “Autonov-11.” Shell Eco-marathon dates back to 1939, and has been an annual event in Europe since 1985, the US since 2007 and went global with the first edition in Asia in 2010. The Nigerian teams join a long line of youth innovators who have designed increasingly fuel-efficient vehicles using energy types ranging from electricity to biofuel. Team Nigeria’s participation at Shell Eco-marathon, according to the statement, has caught the interest of the National Automotive Council (NAC), which has appointed a focal point to support the students. “The interest in fuel efficient cars fits well with Government efforts to encourage the automobile industry in Nigeria,” said NAC Director-General, Aminu Jalal, when an SPDC team led by General Manager, Communications Philip Mshelbila called on him in Abuja recently. Ahmadu Bello University, Zaria is expected to join Team Nigeria at the Asia edition of Shell Eco-marathon, billed for Manila, The Philippines in May 2015. Before then, protocol officers who are attached to state governors, top government officials, influential Nigerians among others are regularly seen in restricted and sterile areas of the airports to fetch their principals. The Federal Airports Authority of Nigeria (FAAN) issued On Duty Cards (ODC) for them to gain easy access to security areas. The Chairman, Presidential Committee on Airport Security, Prof. Sylvester Monye, had, last week, said that personnel drawn from the military and the police would be set up and empowered to enforce the order which, he said, would affect aides to governors and other dignitaries as well as military and Para-military personnel. Monye said that the Federal Government was concerned about the security situation at the five international airports, adding that the directive “was aimed at ensuring sanity, security and global best practices at all international airports in Nigeria. However, Monye said that accredited Ministry of Foreign Affairs’ protocol officers may be allowed in the restricted areas, adding that “all visitors to Nigeria, including foreign dignitaries and officials of multi-lateral institutions, will be required to submit themselves to immigration officers for requisite scrutiny and clearance.” As the 2015 general elections draw near and electioneering begins in a few months, Monye said that party faithful could see off or receive their political leaders but such activities would not be allowed around the airport-restricted areas.

BUSINESS | NEWS

Sanctity of Truth

Monday, May 5, 2014

LULL Nigerian crude is selling slowly in recent months

Bayo Akomolafe

igerian and other West African oil exports to Asia are set to fall to around 1.72 million barrels per day (bpd) this month from 2.05 million bpd in April, a survey of traders conducted has revealed. West African crudes, which are benchmarked against Brent crude, have become less attractive to Asian buyers as

Nigeria, others’ oil exports to Asia fall to 1.72m barrels the discount for Dubai-bench marked crude against European oil has grown. In Nigeria, the survey conducted by Reuters revealed that Qua Iboe cargoes have been offered as high as dated plus $3.80 last week. Traders said levels around $3-$3.20 a barrel would be more realistic for deals to be done. Already, Shell has declared force majeure on its Forcados

Blend in March and has given no indication that it has been removed. There are around 25 of 59 Nigerian cargoes for June loading yet to find buyers, with a wide range of grades still available. Nigerian crude is selling more slowly than in recent

months. "It's realistic to pull up offers when trade is brisk but inevitably there comes a point where buyers won't chase any further and let sellers sit," a trader said. In Angola, three Girassol and one Cabinda grade cargoes were the only vessels available for sale, a trader

said. Also, the survey said Asian lender’s HPCL would reissue a tender, with part one today, part two tomorrow and the results on Wednesday. It said: “Pertamina will issue a tender on Friday, with the result expected on Monday or Tuesday.”

Boost for Nigerian Sugar Master Plan • As Africa eyes regional trade Siaka Momoh

he Nigerian Sugar Master Plan (NSMP), which was launched in year 2012 by President Goodluck Jonathan, has some good days ahead as African sugar producers are set to focus on maximising regional trade, New Telegraph can confirm. Nigeria is among the top five importers of sugar, producing only about three per cent of its domestic consumption. However, on September 19, 2012, the Federal Executive Council approved the NSMP and implementation commenced in January 2013. NSMP has stimulated investments of $3 billion thus far. It is targeting the production of 1.7 metric tons of sugar; creation of 117,181 direct jobs; generation of 411.7MW of electricity; total forex saving of up to $565.8 million annually from savings from sugar production and fuel importation. The good news is that “the end of the European Union’s quotas on African sugar exports in three years and falling world prices will force

African producers to focus on maximising regional trade, the Swaziland Sugar Association said, according to Bloomberg report. “We must look to Africa to provide a market for this sugar,” SSA Chief Executive Officer, Mike Matsebula, said at a conference in the Kenyan port city of Mombasa at the weekend. Cooperation in research and training among the continent’s nations will reduce output costs and make the region competitive, he said. Some African, Caribbean and Pacific states can ship their sugar to the EU dutyfree under a quota system that expires in September 2017. In February, African leaders at the Common Markets for East and Southern Africa summit urged the EU to delay the end of the export quotas to September 2020 to allow time to modernise the industry. Nigeria will find the move suitable for its sugar since the country currently has refused to sign the EU’s Economic Partnership Agreement (EPA) which asks for free trade between EU and AU.

Jonathan to commission maritime varsity, dockyard Bayo Akomolafe

resident Goodluck Jonathan will commission Nigeria’s first specialised university for the maritime sector this week. Also, the president will tour the facilities of the Nigerian Maritime Administration and Safety Agency (NIMASA) in the Eastern areas on Saturday. A statement from the agency’s Deputy Director, Public Relations, Mr Isichei Osamgbi, said Jonathan would be conducted round the state-of-theart facilities at the temporary site of Nigeria Maritime University at Kurutie. He would also perform the groundbreaking of the permanent site of the university located at Okerenkoko, both in Warri Southwest Local Government Area of Delta State. The NIMASA’s Director-

General, Mr. Patrick Akpobolokemi, also said the president would execute the ground-breaking of the agency’s dockyard and shipyard, also sited in the town, which is expected to build and maintain various sizes of vessels. The minister commended NIMASA for the pace of work at the temporary site of the university and the takeoff of construction activities at Okerenkoko where the NIMASA dockyard, shipyard and the permanent site of the university is located. Akpobolokemi said the dearth of human capacity in the maritime sector occasioned by inadequate maritime training institutions in Nigeria was a major challenge that influenced the decision of the National Assembly to endorse the recommendation of NIMASA to establish a maritime university.

L-R: Country Manager, Ericsson Nigeria, Kamar Abass; Chief Executive Officer, MTN, Mr. Mike Ikpoki; Chief Executive Officer, Airtel, Mr. Segun Ogunsanya and Head, sub-Saharan Africa Region, Ericsson, Fredrik Jejdling, at Ericsson’s Business Dinner with partners in Lagos

Nigeria to achieve fish self-sufficiency via aquaculture –Adesina FOUR-YEAR-TARGET European Union countries supplies 70% of Nigeria frozen seafood Siaka Momoh

hat Nigeria spends about 125 billion importing 1.9 million tons of fish to meet the country’s demand per annum is irritating to the Minister of Agriculture and Rural Development, Akinwunmi Adesina. He has, therefore, set in motion a drive by Nigeria to achieve self-sufficiency in the production of fish through promotion of greater investments in aquaculture. Nigeria currently produces 800,000 tons of its 2.7 million tons fish consumption needs per annum. Adesina said at a recent fisheries stakeholder’s interactive forum in Lagos: “We will achieve this by promoting greater investments in aquaculture, improving artisanal, inland and marine fisheries. “Our four-year target is to increase the production of fish fingerlings by 1.25 billion per year; the production of fish feed by 400,000 metric tons per year and increase table size fish production by an additional 250,000 tons a year. In addition, we will

produce 100,000 tons of value added fish and fisheries products annually. We expect that within four years, we will add an additional one million tons of fish to our domestic production and reach 67 per cent selfsufficiency.” It would be recalled that government is currently on war path with some importers who, with the aid of some corrupt civil servants in the fisheries department, smuggle unwholesome fish into the country. The minister descended on some fish importers by impounding their stock and destroying them. The exercise is still in progress. The civil servants in question were apparently trying to undermine the minister’s drive to sanitise the Federal Department of Fisheries. The minister, however, noted that “the same disgruntled staff members are the same that have perpetuated wastage, corruption and the undermining of laws and regulations that were to guide the fisheries sector and protect Nigerians from nefarious activities of illegal operators in the fisheries sector. They are clearly uncomfortable with the search light being beamed on their professional misconduct and activities and those of their associates who continue to avoid government scrutiny of their business operations in the fisheries sector.” For health reasons, the Nigerian government classifies

port clearance for fish landings at Nigeria’s ports as “priority.” Importers are allowed to transport their consignments to their warehouses even upon a partial payment of duty and port charges (usually 80 per cent), the remainder to be paid later at an agreed time. Meanwhile, a ban is hanging on the importation of fish into the country going by government’s directive in a letter dated October 29, 2013, that all fish importers should ensure that “all Bills of Lading must carry dates not later than October, 2013 and the fish cargoes (consignments) must arrive the Nigerian waters not later than December 31, 2013.” This is being done to promote local production. It is expected that fish importers should by now be looking inwards for their fish business. The EU is the dominant supplier of frozen seafood products with over 70 per cent of market share in the country. Other supplying countries include China, Korea, Brazil, Paraguay, Uruguay, USA, The Gambia, Mauritania, Namibia, Angola and Morocco, among others. Suppliers in the EU countries arrange frozen seafood products from different loading ports around the world and are therefore able to sell larger quantities shipped in large river vessels of 3,5004,000 metric tons, reducing ocean freight costs significantly.

28 MONDAY| INTERVIEW

Sanctity

Monday, M

Software industry can create Information technology development has been an issue that has attracted a lot of publicity and attention in Nigeria over the years. One man who has been at the centre of driving technology development in the country for about two decades is Chris Uwaje, who is often called the ‘Oracle of ICT’ in Nigeria. In this Interview with JONAH IBOMA, he highlights some important issues relating to ICT adoption, including the emerging local software industry, appointment of a new director general for the National IT Development Agency and the outsourcing industry. Excerpts: Recently, there were complaints from stakeholders that no ICT body was called to the on-going national confab in Abuja, despite the fact that 13 professional bodies were invited. What is your say on this? It is not the first time that government will convene a conference of national importance and refuse to involve information technology professionals. During the Obasanjo’s regime, there was a conference called then and the ICT community was left out. We wrote to them to address the anomaly. I was then a member of the think tank on national ICT development and we submitted a position paper to them, which I believe is still relevant today. I must tell you that the way we treat information technology today is a reflection of our national information systems management character. When you look at our transportation system, water system, our energy system, they reflect the character of the way we manage our information system. It is the same thing that you have in our education and pension systems. The Boko Haram and other crises that you have today in Nigeria is a reflection of the way we manage information. Nigeria does not accord IT an important place because of the level of understanding of those in government. We see that, globally, ICT stocks are at the top of global stocks. What does that tell you? It tells you how important ICT is today and Nigeria needs to recognise that and accord IT its right place. Mr. Peter Jack was recently appointed as new DG for NITDA. What should be the areas of his focus? He is a veteran and should know how to sustain what is on ground. However, one of the things that he needs to do is to have professionals to surround him. Software development should be his focus as well. He should retool the NITDA workforce. He should focus on retooling the educational sector so that it becomes the centre of IT knowledge in Nigeria. Today, it is the reverse that is the case; it is the industry that is championing IT and taking it to the schools. This should not be so. The residents of knowledge in any country should be academia. Also, the new DG should focus on professional conversion, that is, converting of professionals such as doctors to software engineers so that they can write software for medicine; conversion of engineers to write software for engineering; conversion of marine experts so that they write software for the marine industry. We need to convert more Nigerians to be software compliant. Also, the DG needs to refocus Nigeria from a telecoms country to a knowledge country. Many people have been saying that Nigeria has a lot of undeveloped IT potentials? How can this be tapped? Nigeria has a great chance to compete with the rest of the world viewed from the perspective of her potential resources in high school and university graduates

coupled with her ability to speak and communicate in the English language. The software industry in Nigeria has been given a limited attention by policy makers and other stakeholders, thus the country is heavily dependent on foreign software which accounts for over 90 per cent of all software used in Nigeria. This country must not be left behind on the race of climaxing on ICT with the rest of the world and must play on its vision the right way. Nigeria needs to develop a software strategy, policy and legislation and this must be accorded highest priority in all sectors, as it will create over three million jobs and fire the national economy. The communication technology ministry, operators and stakeholders must adopt the strategy towards strengthening the campaign of promoting software development in the country. There is the need for ICT industry to undergo a massive transformation because our national content, from e-Government to national database, to digital education, digital litigation process, digital transportation, digital urban planning and residency data or what you call national identity information system are in crises which can only be resolved by software. India recognised the great potential inherent in software long ago and if Nigeria does not accelerate her engagement to promote and develop indigenous software, our information crises will multiply into what I had described many years back in my book e-Knowledge - Time is Running Out - as information overload. With over 100 million mobile phones, we may have failed if we cannot fire the sector with Nigerian content or software. IT professionals often talk about need to establish IT Parks. How relevant are they? We need knowledge parks where people can go in and be creative and be self-employed. We need science parks where people can do research and develop and innovate. Nigeria should create a knowledge corridor which is where you say from street A to B, anyone who works there is a knowledge worker and you have light there 24/7. You must be able to build information technology and knowledge parks. Mumbai in India has more than 17 of them, so how can you compete with them? Aside building the parks, you must have facility park managers who can manage the parks effectively and then you have investors who can come in and invest and take the commercial content out. You need to have market protection to some extent, to be able to ensure that grants would be given because what is really debarring software development in this country is lack of grants, no incentives. We have the resources to do that. It does not make sense that a child born today in Africa compared to a child born today in Europe, that after seven years,

Uwaje

Nigeria needs to develop a software strategy, policy and legislation and this must be accorded highest priority in all sectors the child born in Europe is in class while the child born in Africa is on the street selling pure water. It does not make sense. They can never compete and it is not fair because there has to be a fundamental right and Nigeria should make information technology a fundamental human right. That is what obtains in Europe, America and Asia. Worldwide outsourcing service set to worth several billions of dollars in 2013. How can Nigeria increase her participation? The BPO industry is grossing about 800 billion. In fact, in Egypt, the software development institute earned about $862 million in 2013 from outsourcing services.

This is a country that we are at the same development with. There is so much to be done. We need to build at least 20 knowledge parks in the country and I have been at the forefront of championing this since 1999 and I have helped in setting up Akwa Ibom Knowledge Park and that of Tinapa. I thank God that the one in Lagos is coming up and incubation centres are also coming up as well. We need to take this to the grassroots to further develop IT. The first thing that we must focus upon is the innovation process. This, centres on the process of creation that ultimately results in a successfully executed software solution or platform. The second is focus on companies, not code. We have to keep sight of the fact that brilliantly written lines of code must still be considered as building blocks for the successful software companies that must be our ultimate target in building a viable software industry. With 60.3 per cent youth population, Nigeria is definitely a nation to reckon with in the emerging information society. The comfortable mantra seeking to explain the inability to designate special funding scheme to promote innovation and youth entrepreneurship start-up development

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over three million jobs –Uwaje on the grounds of lack of realistic collateral for lending opportunities is, to state the least, a blatant misinformation to the pioneers and champions of software development in Nigeria. People often talk about India and China, when it comes to outsourcing, can Nigeria also play in this field and how can it be done? We can do much more than India and China and even exceed our Diaspora remittance of $20 billion annually. Nigeria can generate around $100 billion from foreign software outsourcing if it taps its rich wealth of human capital. In fact, this country can create around 10 million jobs for Nigerians through business process outsourcing. There is the need for government and other stakeholders to establish legislation that will enhance BPO growth in Nigeria. This is a task that must be done and I want to believe with all my colleagues, who are pioneers of the industry and who have been yearning for the establishment of the BPOs, that this can be achieved. Why have there been problems with local IT development and acceptance? For a very long time, Africans (and Nigerians in particular) have been indoctrinated, intimidated and confused about software engineering knowledge and capability in the digital realm. I believe that it is therefore unacceptable to affirm that Africa/Nigerians cannot develop functional software –which sums up that Africans cannot think logically. We can make the Software Nigeria project as the winning story for the sustainable development of Nigeria’s future. After-all, software is life. At this challenging and significant moment of our national development, we are faced with the task of articulating and mastering our IT strategy as an effective response to the emerging information

Uwaje

society. There is the need for peace engineering in order to achieve this. The fact is that there can be no sustainable and meaningful development without innovative peace architecture. Did you see the play called Kakadu? Here is another valid evidence of knowledge software - out of Africa. Kakadu is an exceptionally breathtaking musical-play by bold Nigerians led by Uche Nwokedi, the executive producer of the cast, and they once again, broke the ice of the mystery behind thought-process. The play demystified the erroneous view and perception of inferiority of local software knowledge content - especially at the innovative technology levels. Kakadu, as you know, is already acclaimed as an award winning musical and it is simply a master-piece of knowledge scripting. In my opinion, Kakadu is an innovative statement and code of a generation. It is, therefore, unacceptable to affirm that Africa/Nigeria cannot develop functional software, which sums up that Africans cannot think logically. The most remarkable feature of Kakadu is its scholarly focus and adventure on peace engineering and nation building. If the message and mission of Kakadu is to build Nigeria anew, then we must restructure our national software knowledge engineering ecosystem to achieve same. For Nigeria, what should be the area of focus for IT development? Nigeria’s core competence is not in heavy technology industry, but on software knowledge industry, which means that Nigeria needs to rethink her ICT development strategy as an urgent and critical imperative because no nation succeeds in her ICT development without a central focus on its core competence. I must state that predicting the future of global ICT landscape may be nearly impossible, it is important for the nation to

Uwaje

work with the right vision. Any country in the world is capable of mastering her ICT destiny provided she concentrates on developing infrastructure and skilled capacities to promote her core competences and domestic market requirements as a precondition for mastering the export market.

nary paper, not realising that the content of the paper produced the generator and could produce millions of it. This mindset is what I call Nigerian/ African technophobia, and the erroneous belief of what science and technology is and what it is not. We are more or less afraid of technology.

For long, you have been canvassing technology adoption for national development. Why? One critical thing that we have not understood is how technology works, and until we do that, our environment will remain an environment of what I call ‘capital merchandising.’ If you look at how other countries are planned and how they function, take a capitalist state like the US for example, you have individuals, capital and the factories, the manufacturing domain. So, people with capital invest and those without capital are made to work in the factories and produce. It means entrepreneurs and capital create employment which reflects in the GDP and nation-building. That is why when you go to those countries, you don’t see a lot of people on the streets because they are in the factories, but here, we have a capital merchandising environment where finished goods change hands with capital. You take those finished goods and exchange, so people are many on the streets trying to buy and sell. It means there is no much creativity, no much science circulating in the domain. Until we can have more science and technology injected in that domain, the people will continue to cluster. Therefore, there is the need for Nigeria to embrace science and technology if it must compete favourably with other nations. A Nigerian will prefer to pay N10 million for a generator than to pay N12 million for the blueprint used in making the generator because, to him, it is an ordi-

Sometime ago you canvassed for a national software board. Is the idea still relevant today? Absolutely yes. We need a national software commission. It is a strategic imperative that is long overdue. I have advanced this concept over the last seven years and we may not achieve much without this. The Federal Government needs to urgently establish a national software commission to streamline software implementations by both the government and private sector with the aim of addressing corruption in the sector. There is a preference for foreign software by government agencies and organisations even when indigenous software are better, because of alleged financial gratification promised some of the officers in foreign currency. If set up, this commission should determine the performance compliance of every software with respect to ISO standards on software, and ensure that they did not infringe with limitations that bother on national security. The commission should be able to determine if software to be imported could be developed locally by Nigerians and then make recommendations You can see what the Financial Reporting Council of Nigeria is doing in the moderation of accounting practice in the country especially with the adoption of International Financial Reporting System (IFRS). The commission should do same.

30 BUSINESS | NEWS INNOVATION Dangote Cement has scored another first with the introduction of 42.5 and 52.5 grades of cement Chris Ugwu

hareholders lauded the Dangote Cement Plc management for rising to the occasion by raising the bar with the 42.5 and 52.5 grades recently rebranded against the background of the incessant building collapse across the nation. The shareholders, who spoke during the company’s 2013 annual general meeting, according to a statement, described the development as a good response to the demands of the time. They stated that with the upgrade of the cement from the staple of Dangote Cement Plc, it would now be clear that any incident of building collapse anywhere could no longer be traced to the quality of cement produced by Dangote. The Company Chairman Alhaji Aliko Dangote disclosed that the company's expansion drive would increase capacity and add additional nine million metric tonnes. He expressed satisfaction that the importation of cement into the country has continued to thin out with an estimate of just 1.1m metric tonnes imported in 2013 down from 1.9million in 2012. He noted that the company would stop at nothing to expand because presently most the Nigeria’s neighbours are importing cement from Far East. “And we are confident that Nigeria’s cement will prove more attractive than the imports, particularly within the 15 member ECOWAS,” he said.

Cement upgrade: Shareholders laud Dangote initiatives “To stabilize the price of cement and free the consumers from the profiteering middlemen, Dangote, said that his company would intensify direct-to-consumer deliveries. Insisting that his company has not increased the price of cement, he explained that though prices of most inputs into cement production has gone astronomically high but that his organization is committed to making the commodity available to consumers at the most reasonable price. “We have not increased the prices of our product, we have embarked on an initiative to improve the standard of cement sold in Nigeria and our belief is that 42.5 strength cement, is the most appropriate for general use now. “We have recently introduced 52.5 strength cement, which is appropriate for heavy load-bearing structures such as bridges and flyovers, we hope to increase the market share in the short-term by increasing the level of directto-customers deliveries and competing on product superiority”, he stated The company's Chairman also expressed optimism that the current year would offer better returns because trading has remained robust in the country and the company has started witnessing solid start to the year with demand up in all regions. Dangote also informed the shareholders the status of the company’s various African projects as the shareholders one after another showered commendations on the management of the cement com-

‘GDP rebasing boosts Nigeria’s Vision 2020 target’

he Gross Domestic Product (GDP) rebasing exercise suggests that by mere statistical adjustments and better measurement of Nigeria’s economic activity, the country is on its way to achieving the Vision 2020 target, Opeyemi Agbaje, CEO, RTC Advisory Services Limited has said. The Vision seeks to place Nigerian among the best 20 economies in the world by year 2020. Agbaje, who spoke at the Finance Correspondents Association of Nigeria (FICAN) Bi-Monthly Discourse in Lagos, said rebasing makes Nigeria the 26th largest economy in the world and biggest African economy by 2013. He said the feat also enhances the country’s Vision 2020 target considering its GDP growth rate post-rebasing averaging 6.4 per cent. Speaking on the theme: ‘Nigeria’s Economy in First Quarter 2014: Issues and Outlook’, he said GDP rebasing does not imply an

Sanctity of Truth

Monday, May 5, 2014

increase in national income and productivity. He also said GDP is not a measurement of income, but of economic output and production within an economy. “GDP rebasing doesn’t alter our poor performance in terms of poverty, unemployment and inequality-GDP, rebasing doesn’t change the material conditions of individuals, homes and firms within the economy,” he explained. Agabje said the exercise gives Nigeria a more accurate picture of the current state of our economy and presents a more credible and contemporary report of the state of sectors and overall activity within the economy. He said: “Nigeria’s GDP rebasing clarifies some previously unresolved incong ruities in our economy, like why the large global telecommunications companies and sector analysts under-estimated the potential depth and size of the sector pre-digital mobile license auction in 2001”.

pany. Said he: In Ethopia, work is underway, to build 2.5m mtpa plant at Mugher with production expected late in 2014. In Tanzania, we have begun work on a 3m mtpa plant at Mtwara and would be fully operational in 2015. In Zambia, work is underway on a 1.5m mtpa at Ndola with cement production ex-

pected in second half of 2014. “We are reviewing plans for Kenya with a view to increasing the scale of our proposed factory from 1.5 to 3.0m tpa, because we are confident there will be sufficient demand both in Kenya and neighbouring countries.” Dangote disclosed that plan were afoot to build import and grinding facilities along the

coast of West Africa to receive and process raw materials supplied from Nigeria, Senegal, and elsewhere. In his comment during an interview journalists, Group Managing Director of Dangote Cement Plc, DVG Edwin attributed the impressive results of the company to focused and strategic management.

L-R: General Manager, British American Tobacco Nigeria Foundation (BATN), Abimbola Okoya; Permanent Secretary, Rivers State Ministry of Education, Minabelem Michael West; Lagos State Commissioner for Education, Oladunjoye Sadiat Olayinka and keynote speaker, Chris Ogbechie, at the Annual Giving Back Conference 2014 in Lagos.

Custodian and Allied’s Q1 profit rises by 91%

ustodian and Allied Plc has announced a profit before tax of N1.3billion for the unaudited first quarter results ended 31 March 2014. This indicates an increase of 78.5 per cent over the N746.9 million recorded in the corresponding period of 2013. Head, Corporate Affairs, Custodian, Bunmi Aderemi, who made this known in a statement, said the results have been transmitted to the Nigerian Stock Exchange (NSE). She noted that profit after tax increased by 90.7 per cent from N587 million to N1.1 billion for the period

in review, while the gross written premium was N5.9 billion from N4.1 billion written in the same period in 2013, representing 41.8 per cent increase. The Group’s asset base increased from 45.6 billion as at 31 December 2013 to N47.6 billion for the first quarter ended 31 March 2014, depicting 4.2 per cent growth within a three-month period. Commenting the results, Mrs Aderemi said: “Our performance in the first quarter of 2014 is a reflection of our expertise in delivering quality innovative service whilst offering a varied product portfolio to our

clients, ultimately giving value to all our stakeholders. As we strive to be Africa’s insurer of choice, our aim is to keep improving on past performance, realise untapped potential in the various sectors we operate in, whilst maintaining efficiency in the system.’’ Custodian and Allied is a wholly owned Nigerian Insurance investment holding company quoted on the Exchange. The Custodian Group offers services including general and life insurance, pensions, trusteeship and property investment.

‘Transport ministry lacks maritime professional’ Bayo Akomolafe

he Federal Ministry of Transport lacks mariners to advise the Federal Government on maritime issues, the Nigerian Association of master mariners has said. Its President, Captain Ade Olopoenia noted that there was no professional in the ministry to advice the minister or president. He suggested that professionals from the

Nigerian Maritime Administration and Safety Agency (NIMASA) should be seconded to the ministry. Olopoenia said: “ NIMASA has a lot of mariners who can assist the ministry. There is nobody guiding them in decision making. He noted that piracy was still on the increase despite the huge amount spent by the government on maritime security. The president stressed the need for a total review of the

Inland and Coastal Shipping Act 2003 to enable Nigerians participate coastal shipping. Olopoenia added that the government should allow all stakeholders to make input in the review of the Act. On maritime education, he lamented the influx of illegal nautical colleges springing up in the country, saying the Maritime Academy of Nigeria was the only institution recognised by the International Maritime Organisation in the country.

BUSINESS | MONEYLINE

Sanctity of Truth

Monday, May 5, 2014

Ecobank to scrap dividend after 34% profit fall

Bank records impairment losses on loans

an-African lender Ecobank reported a 2013 pre-tax profit of $222 million, down 34 per cent on the previous year and said it would not propose a dividend for 2013. Basic earnings per share from continuing operations stood at $0.60 compared to $1.67 in 2012,

LONG WAIT Ecobank shareholders would hopefully have to wait for another year as they are to go home empty handed

the bank said in a statement last Friday. Impairment losses on loans included a $165 million one-off charge to address legacy assets, the bank said. "Our profitability for 2013 has been impacted by increased impairment provisions. A significant proportion of these relate to certain

legacy assets in Nigeria, which the company took a conservative decision to fully address," chief executive Albert Essien said. Ecobank is one of Africa's largest financial institutions with operations in 35 countries and assets of $22.5 billion, according to the results and the company's website. The bank, according to Re-

uters, saw a months-long leadership crisis that culminated in March when the board removed chief executive Thierry Tanoh and replaced him with Essien, previously the bank's deputy CEO. Ecobank's profit after tax from continuing operations was $156 million, down 45 per cent on 2012, the bank said. Revenue was $2 billion.

Shareholders approve Fidelity Bank's 14k dividend

hareholders of Fidelity Bank Plc have unanimously approved the 14 kobo per ordinary share of 50 kobo dividend payable to those whose names appear on the bank's register as at the close of business on April 12, 2014. With this, Fidelity Bank has, for nine years, consistently paid out dividends to its shareholders. Speaking at the bank’s annual general meeting held in Uyo, Managing Director/Chief Executive Officer, Fidelity Bank, Nnamdi Okonkwo, noted that the bank already has a solid platform for its growth, underpinned by strong customer loyalty and significant investments in physical and electronic distribution channels. To drive the next growth trajectory, Okonkwo revealed that Fidelity Bank has adopted a mantra tagged: “back to the

basics, forward to the future.” This, he explained, involves its drive to build a performancedriven organisation on the back of product innovation, superior customer service and to enable it compete fiercely in the retail and electronic banking segment with technology driven innovation. Furthermore, the Fidelity Bank boss said the bank has commenced a technology driven transformation project for performance management, retail and electronic banking. Leading experts in the various areas who have proven competence to increase stakeholders’ value by leveraging technological innovations would drive the transformation, according to Okonkwo. He added: “We have also restructured our sales force into a flatter and more nimble organization, which is closer to the customers and aggressive

enough to drive our market share aspirations in order to achieve our corporate strategy. “On cost optimisation, we are centralising our processing functions which will reduce our cost to serve and improve uniformity of customer service. Our resolve to support the productive sector of the economy and grow a new generation of passionate entrepreneurs was further accentuated with the creation of the Fidelity Managed SME team that provides financing, business advisory services, capacity development and shared technology platform to SMEs.” The bank’s audited results for the financial year ended December 31, 2013, showed that its profit before tax was N9.03 billion. Its gross earnings also increased by 6.5 per cent to N126.92 billion in the year under review, from the N119.14 billion recorded in December

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Bid 12.10 12.10 12.05

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

cent to N426.08 billion from N345.50 billion. Shareholders’ funds stood at N163.46 billion. Earlier the Chairman of the bank Chief Christopher Ezeh, used the opportunity to thank the immediate past managing director, Reginald Ihejiahi, who retired recently after 10 years for his services to the bank.

Bank Arranger of the Year emerges tomorrow Sunday Ojeme

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

E 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

31, 2012. Total assets also increased by 18.2 per cent to N1.081 trillion in the year under review, from N914.36 billion as at 2012, while total customer deposits increased by 12.5 per cent from N716.75 billion as at 2012, to N806.32 billion last year. Similarly, its net loans and advances grew by 23.3 per

lAccess, Dangote, UBA Capital, FBN Capital listed

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

Okonkwo

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

ight financial institutions including four from Nigeria will slug it out in Abuja tomorrow to clinch the prestigious award for the Bank Arranger of the Year. The event organized by African investor (Ai), is in its seventh series. The nominees include Access Bank Plc, Ecobank, Societe Generale, Nedbank Capital, UBA Capital, FBN Capital, Standard Bank and HSBC. A statement by Africa investor (Ai), one of the leading international investment and communications group, said Ai Infrastructure Investment Awards is a platform for investors and governments in Africa’s fast-growing infrastructure sectors to gauge and compare their performance and achievements. The statement added that the 2014 Awards would showcase African public and private sector project innovations and the growing international competitiveness of African infrastructure as an investible asset class. It noted that the highly sought-after Ai Infrastructure Investment Awards, now in their 7th year, formally recognised achievements across the main infrastructure sectors in Africa, and reward the institutions and personalities driving transactions and improving the continent’s infrastructure

investment climate. Commenting on the shortlist, the Chief Executive Officer and Vice-Chairman of Africa investor, Hubert Danso, said, "The past year has witnessed increased private sector participation and capital into African infrastructure projects and we are delighted to be able to recognise the best of these at the Ai Infrastructure Investment Awards and, in so doing, encourage all public and private sector infrastructure actors to promote their investment success stories, as a means to creating a global recognition of Africa’s infrastructure investment competitiveness and success stories." Besides the banking sector, other categories where some Nigerian organisations have been nominated are Power Deal of the Year with the Bureau of Public Enterprises nominated alongside eight other organsations scattered across Africa for its role in the Nigerian electricity privatization project; Oil and Gas Deal of the Year with Oando Energy Resource nominated over its acquisition of CocoPhilips in Nigeria; Infrastructure Regulator of the Year with the Nigerian Electricity Regulatory Commission nominated; Sponsor of the Year with Dangote Group, as well as Financial Advisor of the Year with Stanbic IBTC also in the list of nominees.

BUSINESS | STOCK WATCH

Sanctity of Truth

Monday, May 5, 2014

FBN Holdings: Investors sustain loyalty IRREPRESSIBLE

Share price movement of

Bargain hunters are resilient on future outlook of the bank

FBN Holdings Plc 2013

Chris Ugwu

n spite of the dip in bottom line, investors’ loyalty in FBN Holdings Plc rekindled on the back of proposed dividend pay out to its shareholders and the bank’s strong fundamentals, which have made the lender a delight to customers and shareholders. FBN Holdings had proposed dividend of N1.10 per share to its shareholders for the financial year ended December 31, 2013, despite the harsh operating environment occasioned by the revised banking charges and increase in the cash reserve ratio (CRR), which has weighed down the bottom line of most lenders in the country. Analysts at global rating agency, Fitch and other financial analysts had predicted that tougher regulations and anticipated higher cost of funds were likely to constrain Nigerian banks’ profitability. They envisaged that Nigerian banks were unlikely to see a repeat of their robust 2012 profits because of increasing pressure on earnings. Analysts noted that the First Bank’s expansion drive will shore up investors’ confidence in the stock as bargain hunters jostle to take positions on the back of strong fundamentals and future prospects. Growth strategies In 2013, the group grew the distribution network by 77 locations (53 branches and 24 quick service points (QSPs)) to exploit gaps in client coverage; bringing distribution network across the group to 867 business locations, with 827 locations devoted to commercial banking activities within (765) and outside Nigeria (62). Thirty-two of the new locations resulted from the acquisition of the West African operations of ICB. Overall, headcount increased 5.19 per cent while on a like-for-like basis, adjusting for the impact of the acquisition underlying headcount increased 0.51 per cent to 9,136. The share price, which closed at N17.10 per share in January 2, 2013 when the stock market opened for the year, declined considerably. At the close of business last Friday; the bank’s share price stood at N13.80, a decline of N3.3 or 23.9 per cent year to date. According to market pundits, investors’ appetite for the stocks will be strengthened not only on the proposed dividend for the 2013 financial year results but also as an old generation bank, which has weathered the storm and has earned itself one of the largest customer base in the country. Financials A cursory look at the num-

June 30

N17.90

July 31

N16.92

Aug 31

N16.00

Sept

N16.40

Oct 31

N16.45

Nov 30

N16.10

Dec 31

N16.30

Dec 31

N16.30 2014

Jan 31

N14.45

Feb 28

N13.45

Mar 31

N12.51

Apr 17

N14.16

May 2

N13.80

MD, First Bank, Bisi Onasanya

bers showed a 7 per cent growth in gross earnings year on year from N370.2 billion in 2012 to N395.9 billion in 2013, while net interest income stood at N230.1 billion, up by 1.5 per cent year-on-year from N226.6 billion recorded in 2012. Non-interest income was down by 9.3 per cent to N67.0 billion as against N73.9 billion posted in 2012, while operating income also declined by 1.7 per cent from N301.1 billion in 2012 to N296.1 billion in 2013. Impairment charge for credit losses was N20.3 billion during the year under review as against N12.5 billion recorded in 2012. The bank’s PBT and PAT declined by 2.8 per cent and 8 per cent to N91.34billion from N93.9 billion and N70.63 billion from N76.8 billion respectively. The bank had also reported a 21 per cent decline in profit PBT during its first quarter ended March 31, 2014. The quarter are financial report submitted to the Nigerian Stock Exchange (NSE) showed that the bank’s PBT fell to N24.779 billion from N31.409 billion in the same period of 2013. Similarly, PAT declined 13 per cent to N21.555 billion in the quarter one of 2014 from N24.691 billion in the corresponding period of 2013. However, gross earnings increased slightly by 6.4 per cent to N81.479 billion in the review period of 2014 from N76.570 billion in the first quarter of 2013. Factors that impaired results The resultant impact of the regulatory headwinds was a slowdown in the run rate of the group’s revenue, which coupled with higher funding costs, culminated in margin-

ally lower (-1.7 per cent) operating income y-o-y. However, the much greater 4.4 per cent decline in operating expenses, reflecting benefits of improved cost control measures, drove a 1.8 percentage-point improvement in the cost-to-income ratio to 62.5 per cent (Dec. 2012: 64.3 per cent). In the short term, the bank said it implemented measures to address the headwinds to revenues, which it expect to see some pressure on the cost to income ratio, but which will moderate later on in the year. “We have made progress with respect to managing the cost base in a more prudent manner, underlying cost trends are positive and we remain focused on driving further efficiencies in the coming periods. We will focus on rationalising unprofitable branches, which should drive some reduction in maintenance and personnel costs, tightening the expenditure approval and procurement process further as well as exploring ways of optimising the balance sheet

Our financial performance was impacted largely due to revised banking charges, whilst the increase in the cash reserve ratio (CRR) impacted our overall performance as reflected through FirstBank, our flagship subsidiary

structure,” the bank noted. Commenting on the results, Chief Executive officer of FBN Holdings said, Bello Maccido said the prevalent theme over the course of 2013 was one of moderate economic growth within the context of significant regulatory changes in our sector. “Our financial performance was impacted largely due to revised banking charges, whilst the increase in the cash reserve ratio (CRR) impacted our overall performance as reflected through FirstBank, our flagship subsidiary. During 2013, whilst the Group delivered a year-on-year rise in gross earnings of 7.0 per cent to N395.9 billion, profit before tax dipped marginally by 3 per cent to N91.3 billion,” he said. Maccido noted that the scale and scope of the bank’s business, brand portfolio, geographic reach coupled with the diversity of its business portfolio creates highly-valuable scale benefits that are difficult to replicate. “The diversification and strong natural synergies, in turn, reduce risk and improve the quality of our earnings. With the recent acquisition of ICB banks across four West African countries, the acquisition of Oasis Insurance and our ongoing effort to strengthen the investment banking and asset management business through the acquisition of a merchant banking license, the Group is on track to deliver on its promises to its various stakeholders. “As we look ahead to the future, we will continue to enhance the contribution of the non-bank subsidiaries to the Group through deepening market penetration in each of our business lines, investments in other growing sub-sectors of financial servic-

es and driving cross-sell and synergy realisation across the Group and consolidating our position as the leading commercial banking franchise in Sub Saharan Africa,” he said. Analysts’ perception Analysts at Cordros Capital Limited posited that a more aggressive expansion of the loan portfolio around the peer average would have mitigated the reduced NIM (and RoAA), and significantly boosted FBNH’s top line and bottom line performance. “A major ramp up of loan assets was a hard task to achieve following the hike in public sector CRR from 12 per cent to 50 per cent in July 2013; FBNH is heavily reliant on public sector funds, which consist of 27 per cent of deposits as at FY-13. “In terms of the quantitative impact of the public sector CRR hike on earnings, the increase in reserve requirements quarantined an extra N144billion of funds and led to an opportunity cost of N5.70billion in lost interest income,” they said. The analysts noted that the other main driver of the modest growth in top line earnings was the shift in regulatory regime, which hit FBNH numbers more severely than its peers. “In specific terms, noninterest income was particularly hit by revised banking chargesCOT reduced from N5/ mille to N3/mille (COT income declined by 16.20 per cent y/y to N17.60billion), Automated Teller Machine (ATM) withdrawal charge was scrapped, and SMS alert fees reduced by 60 per cent to N4. Non-interest income fell by 12 per cent y/y to N64.23billion; with the bank mitigating lost the impact of lost fees by increasing transaction volumes,” they said.

BUSINESS | CAPITAL MARKET REPORT 33

Sanctity of Truth

Monday, May 5, 2014

NEGATIVE Investors count their losses as the bears depress the equities market

Sell pressure drags down equities

Chris Ugwu

ontrary to the expectations that earnings being posted by quoted companies at the Nigerian Stock Exchange (NSE) would spur positive confidence inthe equities market, sell pressure dominated the Nigerian bourse last week as the bears maintained a stronghold on trading activities in spite of the gains recorded on the last two days of trading. Bargain hunters had retreated from taking positions - leading to a drop in appetite as profit taking held sway on the stock market. Investors continued to take profits arising from the bullish trends that characterized activities of Exchange in the past few weeks. The market had just like the previous week traded for four days as Thursday was declared public holiday by the Federal Government as Workers’ Day celebration. Last Monday, the stock market opened amid sell pressure dominance as the NSE ASI and the NSE 30, a sample portfolio of diversified shares, declined by 77 and 88 bps respectively following lower investment appetite. Gainers were led by building materials manufacturer, Lafarge Cement Wapco, which gained N0.80 to close at N110.00, while industry competitor, Ashaka Cement, rose by N0.18 to close at N16.41 per share. Stanbic IBTC holdings, the only financial services provider in the top 10 appreciated by N0.20 to close at N23.20 per share. On the flip side, shares of brewery major, Guinness Nigeria, fell by N9.49 to close at N180.51 apiece. Shares of indigenous upstream oil and gas player, Seplat Petroleum, declined by N8.00 to close at N590.00 each. Financial services providers, Ecobank Transnational Incorporated and FBN Holdings, shed N0.33 and N0.30 to close at N13.27and N12.89 per share respectively. The bears The bears on Tuesday maintained their strongholds on the Exchange as major bluechip companies joined the league of losers, causing both the market capitalisation and the All-Share Index to remain on the red zone. The key benchmark indices maintained a downtrend, taking hits majorly from Medium CAP stocks led by Mansard Insurance and Mobil Nigeria, while continuous bargain activities witnessed in Conglomerates, Financial Services, Healthcare, Industrial Goods and Services sectors also contributed to the bearish outlook recorded last Friday. In the same vein, the market capitalisation of equities depreciated by N41 billion during the day.

DG, SEC, Aruma Oteh

Specifically, at the close of business, the NSE All-Share Index depreciated by 117.73 points or 0.31 per cent to close at 38,480.60 from 38,598.33 recorded the previous day, while the market capitalisation of equities fell to N12.667 trillion from 12.708 trillion, representing a drop of N41 billion or 0.31 per cent as market sentiments remained negative. At the close of transactions, 18 stocks appreciated in price during the day as against 25 that depreciated in value. FBN Holdings FBN Holding, riding on the back its results released to the Exchange, led the gainers’ table with 8.30 per cent to close at N13.96 per share while Ikeja Hotel Plc followed with a gain of 5 per cent to close at 63 kobo per share. Vitafoam added 4.88 per cent to close at N4.30 among other price gainers. On the other hand, Mansard Insurance led on the price losers’ table, dropping 4.94 per cent to close at N2.31 per share, while Mobil Nigeria Plc followed with a loss of 4.91 per cent to close at N116.10 per share. Honeywell added 4.90 per cent to close at N3.69, among other price losers. Further analysis of the trading showed that the Banking subsector of the Financial Services sector remained the most active during the week (measured by turnover volume); with 109.2 million shares worth N1.12 billion exchanged by investors in 1496 deals. Volume in the Banking subsector was largely driven by activity in the shares of Zenith Bank and Skye Bank.

DG, NSE, Oscar Onyema

Other financial institutions subsector, boosted by activity in the shares of FBN Holdings Plc followed on the day’s activity chart with a subsector turnover of 54 million shares valued at N494.5 million traded in 1,126 deals. On the whole, investors exchanged a total of 221.9 million shares valued at N2.8 billion in 4,783 transactions. The bulls The bulls made a sluggish return on the Nigerian Capital market on Wednesday as the local bourse closed marginally, gaining N4 billion in market capitalisation. The market had being on the bearish trends for the past few weeks as profit taking overshadowed the market - causing investors to lose substantive amount of investible funds. At the close of trading, key market parameters, the NSE ASI and market capitalisation, rose one basis point, as bulls made sluggish return. Driven by Nigerian Breweries, Seplat Petroleum and financial services stocks - First Bank Holdings, Zenith Bank and Guaranty Trust Bank, the stock market closed on the green as market sentiment returned. Indigenous upstream petroleum and exploration company, Seplat Petroleum, strengthened further by N29.81 to close at N626.31 per share, while refined petroleum products marketer, Mobil Nigeria, gained N2.12 to close at N118.22. Also, shares of top tier financial services providers, Zenith Bank and Guaranty Trust Bank, rose

by N0.78 and N0.21 to close at N22.70 and N26.23 per share respectively. On the flip side, shares of nutrition and wellness multinational, Nestle Nigeria, shed N40.00 to close at N1, 040.00 per share even as multinational confectionery company, Cadbury Nigeria, moderated by N3.95 to close at N75.05. Similarly, building materials manufacturers, Lafarge Cement Wapco and Dangote Cement, fell by N1.54 and N0.99 to close at N108.50 and N226.01 per share respectively. Further analysis of the trading showed that the Banking subsector of the Financial Services sector remained the most active during the week (measured by turnover volume); with 94 million shares worth N1.07 billion exchanged by investors in 1490 deals. Volume in the Banking subsector was largely driven

Five most capitalized stocks@ May 2, 2014 Dangote

N3.8tn

Cement Plc Nigeria

N1.1 tn

Brewery Plc Nestlen Nig

N849.9bn

Plc GTB Plc

N799bn

Zenith Bank

N712.7bn

Plc

by activity in the shares of Zenith Bank and UBA. Other financial institutions subsector, boosted by activity in the shares of FBN Holdings Plc trailed with a subsector turnover of 92 million shares valued at N1.1billion traded in 1,035 deals. The stock market last Friday riding on the back of the green light it showed on Wednesday, sustained bullish rally as both performance indices closed on the positive trajectory. At the close business last Friday, the NSE AllShare Index appreciated by 86.65 basis points or 0.22 per cent to close at 38,578.78 from 38,492.13 recorded the previous day, while the market capitalisation of equities rose to N12.700 trillion from N12.671 trillion, representing an increase of N29 billion or 0.22 per cent as market sentiments remained positive. At the close of transactions, 20 stocks appreciated in price during the day as against 31 that depreciated in value. Ashaka Cement, riding on the back its results released to the Exchange, led the gainers’ table with 10.18 per cent to close at N18.18 per share, while NPF Microfinance Bank followed with a gain of 4.94 per cent to close at 85 kobo per share. Access Bank added 4.88 per cent to close at N8.59 among other price gainers. On the other hand, Dangote Sugar led on the price losers’ table, dropping by 9.26 per cent to close at N6.46 per share, while Total Nigeria Plc and UPL Plc trailed with a loss of 5 per cent each to close at N153.14 and 3.80 per share respectively.

Insurance

Sanctity of Truth

Monday, May 5, 2014

Q2: Over 70% insurers yet to forward 2013 account details

NCRIB president, Ayodapo Shoderu.

Managing Director/Chief Executive Officer LASACO Assurance, Mr. Olusola Ladipo Ajayi

Chairman, Nigerian Insurers Association, Mr Remi Olowude

Commissioner for Insurance,Mr Fola Daniel

Gbolahan Olutayo

MD/CEO GNI Plc, Mrs. Cecilia Osipitan

Managing-Director Niger Insurance Plc, Mr Kola Adedeji.

dapo Shoderu, said that the leadership of the council took the appeal to the Commissioner for Insurance, Mr. Fola Daniel, who graciously granted the request. He said that the commissioner was not happy with the number of companies that had so far submitted their 2013 accounts, which he put at less than 30 per cent. The delayed submission of accounts by the insurance operators has remained the dominant challenge in the industry since the beginning of the year. The situation is similar to the 2012 accounts that were submitted late by some companies while some others are still waiting to be cleared for the year’s annual general meeting. Even with the second quarter of 2014 gradually coming to an end, industry watchers are of the opinion that not all the operators might succeed in pulling through the hurdles. The development also prompted some operators to change their auditors to enable them meet the necessary requirements so as to avoid delays. The NAICOM boss has not stopped short of blaming the operators for the awkward and unprecedented development as he stressed that they were giving enough time for the adoption of the financial reporting standard. Latest development seems to have

proved him wrong when early in the year, he had anticipated that the 2013 situation would be different from that of 2012. According to him, “2012 was a special year with the adoption of IFRS. The transition was a very big challenge. The Commission did a lot by providing leadership. IFRS provided the opportunity to deal with legacy issue in the industry. Only one insurance company has dropped its account for 2013. We are expecting that for 2013 things would be much better.” Daniel had said that the IFRS was not a policy of NAICOM but a national policy, which Nigeria as a nation decided on its date of implementation. He said: “As regulators, what we are doing is to key in to that national idea, we cannot add to it, we cannot subtract from it. But let me say that

STRANDED The directive by the National Insurance Commission on the adoption of a uniform financial reporting standard for underwriters has left some operators confused Sunday Ojeme

he sudden impact of the introduction of the International Financial Reporting Standard on insurance operators is still taking its toll on the industry as majority of them are yet to forward their account details to the National Insurance Commission for scrutiny. With just one month left in the second quarter of 2014 financial year, the commission disclosed that less than 30 per cent of operators had forwarded their account details for examination. The situation also affected the industry brokers as the delay had made it difficult for the commission to process the 2014 renewal details for them to go ahead with business for the year. Reports emanating from the regulator revealed that only 10 out of the over 50 insurance firms have forwarded their 2013 accounts for review. The last to be reviewed and approved so far is that of Cornerstone Insurance Plc. This brings the number of firms that have scaled the hurdles to four as those of Mansard Insurance Plc, Custodian General Insurance Limited and Custodian Life Assurance Limited had earlier been endorsed. The commission, in a circular, also noted that as at Wednesday, April 23, the accounts of Zenith Life Insurance Limited, NSIA Insurance Limited, FBN Life Assurance Limited, Wapic Insurances Plc, Zenith Insurance Company Limited and Wapic Life Assurances were being reviewed. The telling effect on the brokers has, however, been doused by the commission, which agreed to apply details of the 2012 accounts for this year’s renewal due to the delay. Disclosing this in Lagos, the President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Ayo-

Reports emanating from the regulator revealed that only 10 out of the over 50 insurance firms have forwarded their 2013 accounts for review.

one of the biggest issues we had in the insurance industry is the issue of accounts that are not trusted, accounts that are not reliable. And you find out that from interaction with some would-be investors, from inquiries, the first thing they do is to discard audited results of insurance companies. “They don’t trust them, the figures are not adding up. The fundamentals are not real and that is why these would-be investors spend a lot of quality time doing a forensic on an account that we had approved. It is not good for us as a country, it is worse for us as a regulator if we allow some audited account that are not truthful to be put in public domain. “The implication of audited reports that are not truthful is that Nigerians and other investors would be led or misled to buy shares on the basis of such. There are representations, and the National Insurance Commission can become liable for this kind of action. We are not making excuses and not offering apologies to those who are complaining that their accounts are delayed. The NSE (Nigerian Stock Exchange) is on the same page with us, they know exactly what we are doing and they share information with us. SEC (Securities & Exchange Commission) is also aware,” he said.

BUSINESS | INSURANCE

Sanctity of Truth

Monday, May 5, 2014

REINSURANCE Continental Reinsurance widens coverage to ensure more business, funds are kept back home Sunday Ojeme

he Group Managing Director/Chief Executive Officer, Continental Reinsurance Plc, Dr. Femi Oyetunji, has restated the need to have a strong, robust and large reinsurance institution in Africa as part of efforts to drive development in the continent. He disclosed this during the opening of a regional office of the reinsurance firm in Tunis and the introduction of its Sharia-complaint Takaful offering. He said: "Our strategically positioned local office in

We want more premiums retained in Africa –Oyetunji Tunis is a central location, which greatly helps extend our reach into the Maghreb and North African markets. Being close to our clients allows us to improve our insight into local markets, better understand their needs and local risk requirements, and deliver locally relevant offerings. “Opening of the regional office in Tunis is part of Continental Reinsurance’s strategic approach to develop the African reinsurance market and to realise the company’s vision to be the premier PanAfrican reinsurer. "It’s important for Africa’s

ARIAN aims to register 20,000 members by 2015

he President, Association of Registered Insurance Agents, Mr. Gbadebo Olameru, has set a target of 20,000 fully registered members for the group by 2015 to help deepen insurance penetration and boost premium income. Disclosing this in a statement, Gbadebo said that even though over 20,000 agents were currently transacting insurance business across the country, only 3,000 were actually recognised by the association and the National Insurance Commission (NAICOM). Calling on the insurers to collaborate with the association to ensure all their agents are licensed by NAICOM, he said that increasing the number of registered insurance agents with the commission would also increase premium which will lead to increase in the insurance Gross Domestic Product contribution in the country. He said: “In ensuring that the insurance agency business is made easy, collaborat-

ing with stakeholders is a top notch on our agenda, I will rather stand on the shoulders of the giants in the industry than do it my own way because no man is an island of his own. “Likewise, we will collaborate with all insurance practitioners, including my constituency, the agents. We are proposing an interactive session with all insurance agents tagged MEI (Members Evening Initiative) which will be a quarterly strategic session where agents will be hosted by one of the leading insurance companies. This will afford all the major players in the industry to meet with the agents, increasing their capacities, give them a positive mind set and sense of belonging.” He also pointed out that professionalism of Agents was another key area of implementation for the association, stressing that lots of trainings would be organised for agents and training for the trainers.

US faces challenges as Obamacare sign-ups move to year two

he Obama administration needs to improve everything from customer service to Spanish-language outreach if it’s to parlay a functioning website and recent enrollment momentum into even more Americans with health coverage, supporters said. “Adding new people - the marginal enrollment - only gets harder and harder,” George Brandes, director of health-care programs at tax preparer, Jackson Hewitt, said in a telephone interview. “For whatever reason, these people sat on the fence. This is no longer the low-hanging fruit.” Bloomberg report indicates that eight million people signed up for private plans under the Patient Protection and

Affordable Care Act through April 19, the US government reported on Friday. The total includes a surge of 910,000 enrollments in the past month highlighted by young, lowincome applicants. The Congressional Budget Office expects an average of 13 million people to enroll in private health-insurance plans for 2015 using the marketplaces created under the law known as Obamacare. Enrollment surpassed expectations this year, and next year a penalty on people who don’t carry insurance will double to as much as two per cent of income. The federal website that is expected to serve 35 states next year, healthcare. gov, no longer suffer regular malfunctions.

development and growth to have strong, robust and large reinsurance institutions so that African premiums remain in Africa." The launch of the Tunis office is coupled with the introduction of Continental Reinsurance’s Takaful offering, which will serve clients and partners from Africa, the Middle East and Asia. The exponential growth of Takaful has led to increasing demand for Retakaful capacity, particularly in the region of North Africa which has a majority Islamic population in the range of 95 per cent to 99 per cent. Oyetunji said it was Continental Reinsurance’s aim to meet local market needs by developing innovative offerings. Life insurance is currently significantly underdeveloped in the majority of Muslim countries in the Middle East and North Africa (MENA). Reports indicate that global Takaful premium is presently estimated at US$9.15 billion

and is projected to grow to $25 billion by 2015 – and African income is projected to grow at the same pace. Meanwhile,Mrs. Dorsaf Sassi has been appointed as the Regional Director for the newly established Continental Reinsurance office in Tunis. She brings to the region her extensive reinsurance experience in the Tunisian and North African markets. Speaking on the insurance market in Tunis, Mrs. Sassi said that the insurance market in North Africa was still in its infancy and accounted for roughly 0.46 per cent of total world premiums, including the Middle East while its contribution to Gross Development Product was still below international standards. She said: "Our regional office in Tunis will enable Continental Reinsurance to play a significant role in the region’s growth and development by delivering worldclass service and locally relevant offerings to our clients

and partners. It will also be the company’s underwriting centre for the Maghreb region." Continental Reinsurance is one of the few reinsurance companies in Africa committed to sustainable business and corporate responsibility by signing up to the UN Principles for Sustainable Insurance. Signatories to this accord commit to integrating environmental, social and governance (ESG) issues into their core business strategies and operations. Established in 1985, and listed on the Nigerian Stock Exchange (NSE) in 2007, Continental Reinsurance provides support to over 200 insurance companies in Africa. It has operations in 44 African countries, with its main offices in Nigeria, Kenya, Cameroon,Côte d’Ivoire and Tunisia. The company has plans to open another office later this year to support business development plans in southern Africa.

L-R: Head, Retail Distribution, FBN Insurance Limited, Mr. Odinaka Umekwe; Director , Business Segment, Etisalat Nigeria, Mr. Lucas Dada; General Manager, FBN Insurance, Mr. Segun Balogun and Head, Corporate Service, Ms. Ngozi Onuora, at the unveiling of FBN Insurance “Sure4Life” in Lagos

Mobile insurance: FBN, Etisalat collaborate

he list of insurance products being marketed through telecommunication portal grew last week as FBN Insurance entered into a deal with Etisalat to unveil a new offering into the market. The new product tagged ‘Sure4Life’ is designed like others to create more awareness as well as deepen penetration through mobile telephone. The new project is expected to drive availability and accessibility to a vast portion of the uninsured Nigerian population and also provide Etisalat customers with one month free life insurance cover between May and July 2014. Speaking at the inauguration, the General Manager, FBN Insurance, Mr. Segun Balogun, said that it would take a maximum of 72 hours for the claims to be made after the customer had registered the initial complaint to the

company. Last month, the National Insurance Commission (NAICOM) revealed that no fewer than 600,000 Nigerians had subscribed to microinsurance products through the mobile network providers. The commission said that at least 100,000 telecommunication subscribers were being registered on this scheme every month since October last year. While Airtel is offering its airtime-based microinsurance product called Padi4Life also in partnership with FBN Insurance, MTN is offering its own insurance service with Mansard Insurance called MTN Y’ello Cover. In a bid to capture the market, FBN Life Assurance Limited and its partner, Airtel Nigeria, always persuade the public with free cover through their Padi4Life product. Under this plan, the public were offered the privilege

to enjoy seven-day free insurance cover worth N500,000. Speaking further on the latest deal, the Director, Business Segment at Etisalat Nigeria, Mr. Lucas Dada, said that the partnership would bring inexpensive and easy to reach insurance products to the benefit of Etisalat’s growing prepaid and postpaid customers. He said: “Sure4Life is an innovative insurance product which takes away all the challenges that may be associated with taking an insurance policy and allows our subscribers to access and maintain insurance coverage with ease. It is in line with our reputation as the most innovative telecommunications company to provide such life changing products to our customers.” He added that the plan was optional and open to all registered Etisalat subscribers between the ages of 18 and 80.

36 BUSINESS | I FINANCIAL MARKET NEWS

Sanctity of Truth

Monday, May 5, 2014

FMDQ Daily Quotations List

2-May-14

Bonds

Price

FGN Bonds Issuer

Rating/Agency

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

45.00 100.00 535.00 435.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 75.00 150.00 200.00 591.57

TOTAL OUTSTANDING VALUE Rating/Agency

Bid Price

Offer Price

0.16 0.41 0.98 2.29 2.99 3.24 3.33 4.08 5.16 5.48 7.74 9.87 14.58 15.06 15.55 16.23

10.65 11.28 12.31 12.95 13.02 12.96 12.96 12.96 13.03 12.96 13.05 13.04 13.28 13.31 13.34 13.43

9.72 10.89 11.71 12.87 12.96 12.84 12.84 12.86 12.96 12.87 12.99 12.99 13.23 13.26 13.27 13.38

99.72 99.18 92.58 100.15 105.00 91.94 90.45 92.99 110.85 77.12 115.90 106.30 110.97 94.74 68.60 77.50

99.87 99.33 93.08 100.30 105.15 92.24 90.75 93.29 111.15 77.42 116.20 106.60 111.27 95.04 68.90 77.80

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

4,264.84 Issuer

Agency Bonds AMCON FMBN

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

0.50 1.06 1.55 2.61 2.97 3.18

1.00 2.63 2.27 2.00 1.49 1.00

12.48 15.00 14.84 14.88 14.45 13.96

94.19 85.77 103.34 93.42 90.40 88.95

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

0.26 0.45 1.33 0.93 1.23 1.24 2.97 1.80 3.67 2.64 4.42 2.64 2.64 3.22 3.29 5.56 3.26 3.97 6.57 6.67 3.97 4.01

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

15.75 17.36 16.92 15.46 16.90 15.92 18.55 20.27 14.75 14.69 13.96 13.89 14.10 13.96 15.42 14.90 15.70 15.70 13.98 14.92 14.40 14.91

99.43 98.54 94.87 98.22 97.00 99.89 81.14 90.58 97.88 98.70 100.11 101.46 111.43 101.39 100.29 98.49 97.74 97.37 97.96 100.28 108.29 107.96

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 14-Nov-20

0.43 0.63 0.67 0.81 0.89 0.97 2.41 2.48 3.41 2.03 2.19 2.35 2.35 4.39 2.46 2.55 6.54

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 3.06 2.29 6.11 2.76

12.31 16.92 20.48 16.91 13.16 14.93 13.84 14.19 17.48 14.64 16.27 18.03 17.89 16.02 15.14 18.98 15.74

99.63 97.98 97.85 95.05 99.20 99.57 98.30 100.11 88.80 106.91 99.67 100.23 101.94 93.76 101.25 96.53 98.04

11-Feb-18

3.78

1.00

13.96

89.20

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 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# NAHCO

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

07-Oct-11 18-Dec-09 01-Apr-10 17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 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 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 2.05

TOTAL OUTSTANDING VALUE

175.67

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

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.18

5.02

108.83

109.76

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.43

4.22

102.64

103.41

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

5.65

5.52

105.17

106.10

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

3.78

3.37

112.83

113.56

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.14

4.58

104.50

105.61

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.22

5.98

99.14

100.07

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.13

6.70

100.34

101.56

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.22

7.70

95.49

97.20

AFREN PLC

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.27

4.49

113.61

115.18

ZENITH BANK PLC FIRST BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.28

6.13

99.88

100.50

B/S&P; B-/Fitch

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.16

6.69

103.93

105.69

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.61

6.32

100.07

101.18

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 48 55 62

FIXINGS Maturity 15-May-14 22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14

Bid Discount (%) 10.10 10.10 10.10 10.05 10.65 10.50 10.50

Offer Discount (%) 9.85 9.85 9.85 9.80 10.40 10.25 10.25

Bid Yield (%) 10.14 10.16 10.18 10.14 10.80 10.67 10.69

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.5000 12.7847 13.5792 14.3787

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.25

Tenor

Bid ($/N)

Offer ($/N)

10.50

Spot 7D 14D 1M 2M

159.70 160.77 161.03 161.62 162.75

159.80 161.04 161.40 162.34 164.07

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 75.00 75.00 150.00 200.00 591.57

TOTAL OUTSTANDING VALUE Rating/Agency

Agency Bonds AMCON

Sanctity of Truth

FMBN

Stories by Chris Ugwu

7.74 9.87 14.58 15.06 15.55 16.23

13.05 13.04 13.28 13.31 13.34 13.43

12.99 12.99 13.23 13.26 13.27 13.38

115.90 106.30 110.97 94.74 68.60 77.50

116.20 106.60 111.27 95.04 68.90 77.80

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

1.00 2.63 2.27 2.00 1.49 1.00

12.48 15.00 14.84 14.88 14.45 13.96

94.19 85.77 103.34 93.42 90.40 88.95

4.88

15.75

99.43

7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.94 1.44 1.95

20.27 14.75 14.69 13.96 13.89 14.10 13.96 15.42 14.90 15.70 15.70 13.98 14.92 14.40 14.91

90.58 97.88 98.70 100.11 101.46 111.43 101.39 100.29 98.49 97.74 97.37 97.96 100.28 108.29 107.96

4,264.84 Description

Issuer

Monday, May 5, 2014

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

***LCRM

TOTAL OUTSTANDING VALUE

idson Healthcare Plc at Sub-National Bonds the weekend released its A/Agusto KWARA 2013 financial statement A-/GCR NIGER with a decline in profits. A+/Agusto KADUNA A/Agusto In a filings with*EBONYI the NigeNil *BENUE rian Stock Exchange (NSE), A+/Agusto *IMO the company’s profit before A+/Agusto; A+/GCR LAGOS tax (PBT) for the 2013 audited A-/Agusto *BAYELSA A/Agusto EDO cent to year was down 54 per A+/Agusto;million A+/GCR *DELTA N249.591 from N540.080 A-/Agusto; A-/GCR NIGER million reported the previous A/Agusto; A-/GCR† *EKITI year. A-/Agusto *NIGER Profit after tax (PAT) A/Agusto; A-/GCR *ONDO also A/Agusto; *GOMBE dipped 25A-/GCR per cent to N154.980 Aa-/Agusto; AA-/GCR LAGOS million from N206.889 million A/Agusto; A-/GCR *OSUN inA/Agusto 2012. Revenue grew 29 per *OSUN cent to N.247 in the Aa-/Agusto; AA-/GCR billion LAGOS A-/Agusto; period BBB+/DataPro audited of KOGI 2013 from A/Agusto billion the *EKITI N7.168 previous A-/GCR *NASARAWA year. TOTAL OUTSTANDING VALUE The corporate action reCorporate Bonds leased by the healthcare firm, A+/Agusto; AA/GCR LAFARGE WAPCO shows that dividend dropped GTB board byAa/Agusto 17 per cent as the NGC ofNil directors of the*UPDC company Bbb-/Agusto proposed to offer investors A-/Agusto *FLOURMILLS a 10BB+/GCR kobo per share*CHELLARAMS dividend A+/Agusto; A-/GCR NAHCO paid compared with 12 kobo A-/Agusto FSDH last year. µ

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 (%)

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

BUSINESS | FINANCIAL MARKET NEWS 37 978.35 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

0.50 1.06 1.55 2.61 2.97 3.18

17.00

05-Aug-14

0.26

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

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

1.80 3.67 2.64 4.42 2.64 2.64 3.22 3.29 5.56 3.26 3.97 6.57 6.67 3.97 4.01

Fidson's pre-tax profit falls 54% 1,304.32

However, the healthcare company reported a positive 2014-quarter one result as it recorded a growth in PBT of five per cent from N269.563 million in the first quarter of 2013 to N283.015 million in the Q1 of 2014. Similarly, Fidson posted an increase of five per cent in its PAT, as it recorded N203.771 million compared to N194.503 million. Revenue climbed slightly three per cent to N2.699 billion from N2.624 billion recorded in the corresponding period of the previous year. Driven by population increase, constant upscale and 11.50 LAFARGE WAPCO 7-OCT 2014 sophistication of Nigeria’s 13.50 GUARANTY TRUST 18-DEC-2014 healthcare delivery, the com17.00 NGC 31-DEC-2014 pany announced that 10.00recently UPDC 17-AUG-2015 it was set to join the nation’s 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 market intravenous infusion NAHCO 29-SEP-2016 as 13.00 it foresees N4 billion profit 14.25 FSDH 25-OCT-2016 from its new product pipeline 13.00 UBA 30-SEP-2017

05-Aug-09

14.00

(intravenous (IV) infusion and 15-Oct-09 14.00 31-Aug-10 lines) by12.50 injectables 2015. 30-Sep-10 The new product13.00 pipeline 14.00 set to30-Jun-11 be manufactured at its 30-Jun-09 15.50 N7billion biotech plant 19-Apr-10 10.00 located in Sango Ota, Ogun13.75 State, in30-Jun-10 30-Dec-10 14.00 dustry watchers believe, will 30-Sep-11 14.00 change the dynamics of Ni04-Oct-11 14.00 geria’s intravenous14.50 infusion 09-Dec-11 market currently dominated 12-Dec-13 14.00 14-Feb-12 15.50 by three major players. 02-Oct-12Adebayo, 15.50Fidson Biola 22-Nov-12 14.50 Healthcare operations di12-Dec-12 14.75 rector, in a report 14.75 said that 30-Sep-13 the new biotech plant, 27-Nov-13 13.50 when 31-Dec-13 within 15.00 completed the third 31-Dec-13 quarter of 2014, is14.50 expected 06-Jan-14 15.00 to manufacture pharmaceutical products whose demand is anticipated to surpass supply. 07-Oct-11 11.50 With the company current13.50 ly in18-Dec-09 discussion with some 01-Apr-10 17.00 pharmaceutical firms such 17-Aug-10 10.00 as Sanofi to carry 09-Dec-10 (France)12.00 06-Jan-11 14.00 out secondary manufactur13.00that its ing, 29-Sep-11 Adebayo stated 25-Oct-13 entrant into the IV14.25 infusion

market will break 6.00 15-Oct-14 the oligopo0.45 31-Aug-15 ly8.50through price reduction1.33 and 16.50 30-Sep-15 quality.0.93 improved product 13.00 30-Jun-16 1.23 “Before now, only one phar18.50 30-Jun-16 1.24 maceutical company had the 57.00 19-Apr-17 2.97

monopoly of17.36 anti-retroviral 5.99 98.54 4.44 (ARVs) 16.92 94.87 livdrugs for persons 15.46 98.22Fiding3.23 with HIV/AIDS until 16.90 97.00 son4.46 Healthcare commenced its 3.48 15.92 99.89 own ARV manufacture. 5.59 18.55 81.14

‘Investment in infrastructure critical to economic devt’ GROWTH

Infrastructure enhances economic productivity

572.90

07-Oct-14 0.43 xecutive Director for Cor18-Dec-14 0.63 porate and Investment 31-Dec-14 0.67 Banking, 17-Aug-15 Stanbic IBTC,0.81 Mr. Victor Williams, has described 09-Dec-15 0.89 06-Jan-16 0.97 investment in infrastructure 2.41 as crucial to29-Sep-16 the overall devel25-Oct-16 opment of any economy. 2.48 30-Sep-10 13.00 30-Sep-17 3.41 Williams, 30-Nov-17 who stated this at 30-Nov-12 18.00 2.03 a forum, said that the bank’s 09-Apr-11 16.00 09-Apr-18 2.19 robust support in financing 09-Sep-11 18.00 09-Sep-18 2.35 09-Sep-11 16.00 2.35 investments09-Sep-18 in critical infra22-Sep-11 14.00 22-Sep-18 structure has a definite 4.39 cor18-Oct-13 15.75 18-Oct-18 2.46 relation to economic growth 17-Feb-12 17.00 17-Feb-19 2.55 other14-Nov-13 53 to be completed and development. 15.25 before 14-Nov-20 6.54 the end of the year. This, he said, was based on 175.67 The Union Bank boss not- the understanding that invested that previously upgraded ment in infrastructure is cen11-Feb-13 10.20 12.00 11-Feb-18 3.78 branches are already yield- tral to enhancing economic 12.00 ing financial upsides, adding productivity, empowering that positive Net Promoter people and overall advanceIssue Date Coupon (%) ($'mm) Date Scores (NPS) Divestment ofIssue Value ment of theMaturity society . Bid Yield (%) four portfolio companies has He said that Standard Bank almost completed and await- group’s 151 years’ experience 07-Oct-11 6.75 500.00 28-Jan-21 5.18 ing regulatory approvals. has been instrumental in The group gross earnings funding and supporting criti18-Dec-09 5.13 500.00 12-Jul-18 4.43 for the first quarter ended cal projects across the conti01-Apr-10 6.38 500.00 12-Jul-23 5.65 March 31, 2014 stood at N26 nent. billion as against N29.4 billion 1,500.00 “Stanbic IBTC is committed recorded in the comparable to supporting infrastructure period of quarter one 2013. development, particularly 01-Feb-11 450.00 01-Feb-16 3.78 Interest income was11.50 N18.8 bil- those that have the potential to 19-May-11 7.50 500.00 19-May-16 5.14 lion during the period under advance economic prosperity . 08-Nov-13 400.00 08-Nov-18 6.22 review in contrast to6.00 N20.7 bil- Standard Bank Group’s long25-Jul-12 7.25 350.00 25-Jul-17 7.13 lion of corresponding period standing experience in fund09-May-13 6.88 300.00 02-May-18 8.22 on the previous year. ing strategic infrastructure 08-Apr-12 10.25 300.00 08-Apr-19 5.27 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 2.05

projects across Africa will be instrumental in contributing to Nigeria’s development. In so doing, we will help to drive economic growth by enhancing market access, technology acquisition, improving efficiency levels and creating 1.00 12.31 99.63 employment opportunities,” 16.92 97.98 he 5.21 added. 8.71 20.48 97.85 He highlighted the bank’s 4.88 16.91 95.05 role in providing financial 1.00 13.16 99.20 2.63 14.93 99.57 support to individuals, busi1.00 98.30 to nesses and 13.84 governments 1.34 help unlock 14.19 economic100.11 oppor4.52 17.48 88.80 tunities. 1.88 14.64 106.91 Among these bank 3.48 16.27 are the 99.67 partnering with Standard 5.20 18.03 100.23 5.06 London 17.89and Afrinvest 101.94 Bank, 16.02 93.76 as 3.06 lead arrangers of the his2.29 15.14 101.25 toric $350 million Eurobond is6.11 18.98 96.53 sue2.76 for Guaranty Trust98.04 Bank 15.74 and arranging the largest telecommunications deal ever in Africa - a $2 billion syndicated 1.00 loan for MTN13.96 Nigeria. 89.20 Others include the sole financing of the $100 million Offer Yield (%) Bid Price Offer Price (N15.8 billion) ultra-modern Ikeja City Shopping Mall, Prices & Yields Lagos; providing US$200 mil5.02 108.83 109.76 lion into the syndication of Dangote Industries Limited’s 4.22 102.64 103.41 US$3.3 billion facility for the 5.52 106.10 building of a105.17 greenfield fertilizer plant and crude oil refinery in Ondo State and serving as Joint Mandated Lead Ar3.37 113.56 ranger with112.83 FirstRand Bank 4.58 105.61 Limited for 104.50 a $100 million fa5.98 99.14 cility for Oando Wings100.07 Devel6.70 100.34 101.56 opment Limited’s Office Com7.70 95.49 97.20 plex, Victoria Island, Lagos. 4.49 113.61 115.18

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 A+/Agusto; A-/GCR

UBA *C & I LEASING *DANA# *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# NAHCO

B+/Fitch; BB-/S&P

ZENITH BANK PLC FIRST BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.28

6.13

99.88

100.50

B/S&P; B-/Fitch

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.16

6.69

103.93

105.69

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

360.00

09-Dec-20

6.61

6.32

100.07

18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

Union Bank targets 30% loan growth

uilding on its loan portfo-

tional metrics supporting our strategy. The first quarter of 2013, Union Bank of Nige- 2014 was impacted by reguBond riaSupranational Plc expects a loan growth latory and monetary policy 10.20 IFC 11-FEB-2018 AAA/S&P of about 30 per cent IFC by the end changes in the financial indusof TOTAL 2014. OUTSTANDING VALUE try, which curtailed earnings Group Managing Director growth. Nonetheless, having Description Rating/Agency Issuer and Chief Executive of Union clearly defined our growth Bank, Emeka Emuwa, said this strategy for the next three to FGN Eurobonds while commenting on the bank’s five years, we remain focused 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P first quarter 2014 results. on repositioning the business, BB-/Fitch; Noting that the lender’s increasing banking product FGN 5.13 JUL 12, 2018 BB-/S&P loans to deposits ratio is impenetration in the country and BB-/Fitch; 6.38 JUL 12, 2023 proving optimising our cost structure. BB-/S&P and now stands at 52 per cent,OUTSTANDING he said theVALUE bank’s op“Going forward, we remain TOTAL erating expenditure remains confident that we will deliver Corporate Eurobonds under tight control whilst the on our growth aspirations for 11.50 FEB 01, 2016 B-/S&P; B/Fitch AFREN PLC I instrument make new invest- the year,” Emuwa said. 7.50 MAY 19, 2016 ments growth. GTBANK PLC I He explained that branch B+/S&P;for B+/Fitch NOV 08, 2018 GTBANK PLC “Union Bank has mainoptimisation6.00 programme was 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC tained its profitability and is underway as 13 branches are 6.88 MAY 09, 2018 B/S&P; B/Fitch FIDELITY BANK PLC delivering against key opera- currently being refit and an10.25 APR 08, 2019 B/Fitch AFREN PLC lio growth of 55 VALUE per cent in TOTAL OUTSTANDING

09-Dec-13 6.63 FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

3,460.00

2-May-14101.18

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 20 FGN Bonds27 34 48 Rating/Agency 55 62 69 76 83 90 97 104 111 118 125 NA 160 216 251 265 279 293 307 342 356

15-May-14 22-May-14 29-May-14 5-Jun-14 19-Jun-14 Issuer 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 7-Aug-14 14-Aug-14 21-Aug-14 28-Aug-14 4-Sep-14 NA 9-Oct-14 4-Dec-14 8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15 9-Apr-15 23-Apr-15

10.10 10.10 10.10 10.05 10.65 Description 10.50 10.50 10.10 9.20 29-JUN-2014 10.10 9.25 28-SEP-2014 10.60 4.00 23-APR-2015 10.50 13.05 16-AUG-2016 10.35 15.10 27-APR-2017 10.50 9.85 27-JUL-2017 10.70 9.35 31-AUG-2017 10.80 10.50 10.70 30-MAY-2018 10.80 16.00 29-JUN-2019 10.40 7.00 23-OCT-2019 11.25 16.39 27-JAN-2022 11.10 14.20 14-MAR-2024 11.20 15.00 28-NOV-2028 10.90 11.30 12.49 22-MAY-2029 11.30 8.50 20-NOV-2029 11.30 10.00 23-JUL-2030

9.85 9.85 9.85 9.80 10.40 Issue Date 10.25 10.25 9.85 29-Jun-07 9.85 28-Sep-07 10.35 23-Apr-10 10.25 16-Aug-13 10.10 27-Apr-12 10.25 27-Jul-07 10.45 31-Aug-07 10.55 10.25 30-May-08 10.55 29-Jun-12 10.15 23-Oct-09 11.00 27-Jan-12 10.85 14-Mar-14 10.95 28-Nov-08 10.65 11.05 22-May-09 11.05 20-Nov-09 11.05 23-Jul-10

10.14 10.16 10.18 10.14 10.80 Coupon 10.67(%) 10.69 10.30 9.20 10.32 9.25 10.86 4.00 10.78 13.05 10.64 15.10 10.82 9.85 11.06 9.35 11.19 10.89 10.70 11.34 16.00 11.08 7.00 12.19 16.39 12.07 14.20 12.25 15.00 11.95 12.49 12.49 12.64 8.50 12.70 10.00

TOTAL VALUE *from theOUTSTANDING Amortising

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

Agency Bonds AMCON FMBN

***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†

Description

Issuer

<3 3<5 KWARA >5 NIGER Market KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI

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)

911.36 1,084.82 14.00 KWARA 5-AUG-2014 458.47 14.00 NIGER 15-OCT-2014 2,454.64 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

Tenor O/N 1M 3M Value Outstanding 6M

(N'bn)

Rate (%) 10.5000 12.7847 13.5792 Maturity Date 14.3787

45.00 100.00 NITTY 535.00 Tenor 435.27 1M 452.80 2M 20.00 3M 100.00 6M 9M 300.00 12M 351.30 233.90 600.00 NIFEX 75.00 75.00 Current Price ($/N) BID($/N) 150.00 OFFER200.00 ($/N) 591.57

29-Jun-14 28-Sep-14 23-Apr-15 Rate (%) 16-Aug-16 10.1846 27-Apr-17 10.6499 27-Jul-17 10.7000 31-Aug-17 11.1971 12.0546 30-May-18 12.5757 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 159.9575 22-May-29 160.0575 20-Nov-29 23-Jul-30

OBB

10.25

O/N

10.50

TTM (Yrs) Tenor Call 1M 0.16 3M 0.41 6M 0.98

REPO BidRate Yield (%) (%) 10.25

Tenor Spot 7D Offer14D Yield 1M (%) 2M 3M 9.72 6M 10.89 1Y 11.71

11.70 10.65 12.52 11.28 13.31 12.31 2.29 12.95 12.87 NOTE: 2.99 13.02 12.96 3.24 12.96 12.84 :Benchmarks 3.33 Bond 12.96 12.84 * :Amortising µ :Convertible 4.08 Bond 12.96 12.86 AMCON:5.16 Asset Management Corporation of12.96 Nigeria 13.03 FGN: Federal Government of Nigeria 5.48 12.96 12.87 FMBN: Federal Mortgage Bank of Nigeria 7.74 13.05 12.99 IFC: International Finance Corporation 9.87 Contractors Receivables 13.04 12.99 LCRM: Local Management 13.23 NAHCO:14.58 Nigerian Aviation 13.28 Handling Company 15.06 13.31 13.26 O/N: Overnight UPDC: UAC Property Development Company 15.55 13.34 13.27 WAPCO:West Africa Portland Cement Company 16.23 13.43 13.38

Bid ($/N) 159.70 160.77 161.03 Bid161.62 Price 162.75 164.07 99.72 167.66 99.18 174.59 92.58

Offer ($/N)

Price

159.80 161.04 161.40 Offer Price 162.34 164.07 166.06 99.87 171.86 99.33 183.63 93.08

100.15 100.30 105.00 105.15 91.94 92.24 NA :Not Applicable 90.45 Rate Bond 90.75 # :Floating ***: Deferred 92.99 coupon bonds 93.29 110.85 111.15 †: Bond rating expired 77.12 77.42 115.90 116.20 106.30 106.60 NGC:110.97 Nigeria-German 111.27 Company UBA: 94.74 United Bank for Africa 95.04 68.60 68.90 77.50 77.80

4,264.84

# bonds,

Rating/Agency

NIBOR

Bonds

Volume(Bn)

888.07 951.30 591.57 2,430.94

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

Outstanding Vol

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00 978.35 0.00 24.56 FMDQ 17.25 FGN BOND INDEX 6.00 0.00/16.00 112.22 0.00/16.50 116.70 Weighting by Mkt 0.00/16.50 Bucket66.49 Weighting

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

0.50 1.06 1.55 2.61 2.97 3.18Yield Implied

1.00 2.63 2.27 2.00 1.49 Implied 1.00

12.48 15.00 14.84 14.88 14.45 13.96 INDEX

94.19 85.77 103.34 93.42 90.40 YTD Return 88.95

Coupon (%)

Value

1,304.32

36.53

37.13

39.13 05-Aug-09 15-Oct-0924.33 100.00 31-Aug-10

14.00 44.19 14.00 18.68 12.50100.00

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

13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00

0.37 0.39 0.24 1.00

Mod_Duration

19.57

12.99

05-Aug-1439.75 15-Oct-1440.67 100.00 31-Aug-15

0.2613.05 0.4513.43 1.3313.19

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

0.93 1.23 1.24 2.97 1.80 3.67 2.64 4.42 2.64

Portfolio Price

111.1589 124.0399 4.88 85.3445 5.99 109.9177 4.44 3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00

(%)

1,055.78

5.5783

1,050.32 15.75 1,033.16 17.36 1,042.98 16.92

5.0323 99.43 3.3164 98.54 4.2976 94.87

15.46 16.90 15.92 18.55 20.27 14.75 14.69 13.96 13.89

98.22 97.00 99.89 81.14 90.58 97.88 98.70 100.11 101.46

Daily Summary as of 02/05/2014

Printed 02/05/2014 15:46:13.013

38 BUSINESS | CAPITAL MARKET

Daily Summary as of 02/05/2014 Printed 02/05/2014 15:46:13.013

Daily Summary (Bonds)

Sanctity of Truth

Monday, May 5, 2014

The Nigerian Stock Market Exchange as at May 2, 2014

No Debt Trading Activity

Daily Summary (Equities)

Activity Summary on Board EQTY

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

Symbol OKOMUOIL PRESCO

No. of Deals 33 85 118

Current Price 33.50 39.00

Quantity Traded 73,080 2,570,966 2,644,046

Value Traded 2,468,972.16 101,670,396.35 104,139,368.51

Symbol LIVESTOCK

No. of Deals 8 8

Current Price 3.14

Quantity Traded 217,620 217,620

Value Traded 683,326.80 683,326.80

2,861,666

104,822,695.31

Quantity Traded 230,571 11,509,710 229,165 11,969,446

Value Traded 374,186.48 39,614,539.24 13,075,855.95 53,064,581.67

11,969,446

53,064,581.67

AGRICULTURE Totals

Daily Summary as of 02/05/2014 CONGLOMERATES Printed 02/05/2014 15:46:13.013 Diversified Industries

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

126 Symbol AGLEVENT TRANSCORP UACN

Daily Summary

No. of Deals 7 174 52 (Equities) 233

CONGLOMERATES Totals

233

Activity Summary on Board EQTY CONSTRUCTION/REAL ESTATE Building Construction

Current Price 1.60 3.42 57.00

Symbol ARBICO

No. of Deals 2 2

Current Price 5.30

Quantity Traded 189 Page 189

Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Symbol COSTAIN

No. of Deals 19 19

Current Price 1.50

Quantity Traded 233,345 233,345

Value Traded 340,804.70 340,804.70

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

Symbol JBERGER

No. of Deals 25 25

Current Price 69.42

Quantity Traded 391,000 391,000

Value Traded 27,105,843.83 27,105,843.83

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

Symbol UAC-PROP

No. of Deals 74 74

Current Price 24.52

Quantity Traded 796,976 796,976

Value Traded 19,680,892.18 19,680,892.18

1,421,510

47,128,493.27

ARBICO PLC. Published by The Nigerian Stock Exchange © Building Construction Totals

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Daily Summary as of 02/05/2014 Automobiles/Auto Parts Printed 02/05/2014 15:46:13.013 DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL Activity Summary onBREWERIES Board EQTYPLC. GOODS PublishedCONSUMER by The Nigerian Stock Exchange © Beverages--Brewers/Distillers NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

120 Current Price 0.50

Quantity Traded 320,000 320,000

Value Traded 160,000.00 160,000.00

Symbol

No. of Deals 1 73 35

Current Price 13.79 170.50 26.00

Quantity Traded 5,232 210,932 299,939

Value Traded 68,591.52 36,185,973.84 7,417,142.34

GUINNESS INTBREW

Page

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

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

Symbol 7UP

No. of Deals 36 36

Current Price 90.00

Quantity Traded 46,512 46,512

Value Traded 3,784,172.94 3,784,172.94

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. U T C NIG. PLC. Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON NNFM UTC

No. of Deals 49 103 30 26 3 38 3 3 255

Current Price 7.78 9.26 68.43 3.69 0.50 11.36 22.01 0.53

Quantity Traded 371,074 2,365,902 69,843 315,680 88,907 695,276 1,050 58,500 3,966,232

Value Traded 2,924,662.80 22,066,498.87 4,750,008.29 1,170,564.88 44,453.50 7,904,339.88 21,955.50 29,835.00 38,912,318.72

Symbol CADBURY NESTLE

No. of Deals 81 62 143

Current Price 71.32 1,072.00

Quantity Traded 469,911 164,378 634,289

Value Traded 33,602,782.65 174,061,219.97 207,664,002.62

Symbol VITAFOAM

No. of Deals 6

Current Price 4.30

Quantity Traded 75,196

Value Traded 307,551.64

Household Durables VITAFOAM NIG PLC.

Daily Summary (Equities)

Activity Summary on Board EQTY

Page

Published by The Nigerian Stock Exchange © CONSUMER GOODS Household Durables Household Durables Totals

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

FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking TotalsStock Exchange © Published by The Nigerian Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC MANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC PRESTIGE ASSURANCE CO. PLC. SOVEREIGN TRUST INSURANCE PLC Daily Summary as of 02/05/2014 UNITY KAPITAL ASSURANCE PLC Printed 02/05/2014 15:46:13.013 UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC

Activity Summary on Board EQTY PublishedFINANCIAL by The Nigerian Stock Exchange © SERVICES Micro-Finance Banks Micro-Finance Banks Totals

Mortgage Carriers, Brokers and Services ASO SAVINGS AND LOANS PLC INFINITY TRUST MORTGAGE BANK PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

No. of Deals 6

Current Price

Quantity Traded 75,196

Value Traded 307,551.64

Symbol PZ UNILEVER

No. of Deals 37 62 99

Current Price 36.00 48.01

Quantity Traded 138,879 783,540 922,419

Value Traded 4,937,618.81 37,627,548.57 42,565,167.38

7,495,820

489,866,500.14

Current Price 8.59 6.28 13.00 1.90 27.15 3.44 2.18 6.88 10.00 0.50 0.98

Quantity Traded 11,871,857 16,222,277 7,678,717 3,011,236 12,776,386 6,133,583 9,610,699 13,924,448 314,209 3,306,286 1,109,731

Value Traded 100,997,523.05 100,097,774.08 100,484,292.68 5,753,500.18 345,139,309.73 21,398,937.48 21,322,471.68 95,536,526.47 3,130,248.53 1,653,143.00 1,087,260.12

716 Symbol No. of Deals ACCESS 170 DIAMONDBNK 94 ETI 227 FIDELITYBK 75 GUARANTY 302 SKYEBANK 123 STERLNBANK 71 UBA 171 Daily Summary (Equities) UBN 49 UNITYBNK 20 WEMABANK 24

Published by The Nigerian Stock Exchange ©

Quantity Traded 146,700

Value Traded 124,695.00

Symbol ASOSAVINGS INFINITY UNHOMES

No. of Deals 1 1 1 3

Current Price 0.50 1.61 0.50

Quantity Traded 200 332 262 794

Value Traded 100.00 507.96 131.00 738.96

Symbol AFRIPRUD CUSTODYINS FBNH FCMB STANBIC UBCAP

No. of Deals 57 54 1,188 79 25 44 1,447

Current Price 3.00 2.42 13.80 3.55 23.00 2.14

3,319 Symbol UNIONDAC

No. of Deals 1 1

Current Price 0.50

Quantity Traded 1,811,253 4,757,097 33,061,614 4,697,662 96,303 4,522,749 48,946,678

Value Traded 5,419,077.97 11,439,209.41 465,248,799.10 16,520,311.19 2,151,030.46 9,679,510.36 510,457,938.49

192,398,866

2,260,376,356.06

Quantity Traded 4,000 4,000

Value Traded 2,000.00 2,000.00

Page

Current Price 0.50

Quantity Traded 167,611,100

Value Traded 83,805,550.00

Current Price

Page Quantity Traded 167,611,100

7 of 13 Value Traded 83,805,550.00

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

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

Activity Summary on Board EQTY

Published byAND The Nigerian Stock Exchange © OIL GAS Exploration and Production Exploration and Production Totals

Symbol

No. of Deals 3 9

Symbol

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

84,053,406.30

Current Price 18.18 8.75 40.35

Quantity Traded 1,613,475 41,962 38,647

Value Traded 28,566,613.45 374,278.96 1,546,625.19

Symbol CCNN DANGCEM DNMEYER FIRSTALUM IPWA WAPCO

No. of Deals 30 31 3 2 4 68 248

Current Price 9.25 226.00 1.06 0.50 0.58 108.00

Quantity Traded 819,620 175,581 16,640 27,000 33,500 643,596 3,410,021

Value Traded 7,649,779.83 39,474,955.73 18,400.40 13,500.00 18,761.20 69,508,984.49 147,171,899.25

Symbol CUTIX

No. of Deals 5 5

Current Price 1.85

Quantity Traded 131,153 131,153

Value Traded 242,226.93 242,226.93

Symbol BETAGLAS

No. of Deals 10 10

Current Price 18.97

Quantity Traded 186,530 186,530 Page

Value Traded 3,542,127.09 83,542,127.09 of 13

BERGER CAP

263 Symbol ALEX

3,727,704

150,956,253.27

No. of Deals 2 2

Current Price 10.50

Quantity Traded 70 70

Value Traded 698.60 698.60

Symbol MULTIVERSE

No. of Deals 1

Current Price 0.50

Quantity Traded 3,730

Value Traded 1,865.00

Symbol

No. of Deals 1

Current Price

Quantity Traded 3,730

Value Traded 1,865.00

3,800

2,563.60

Daily Summary (Equities)

Page

Symbol JAPAULOIL

No. of Deals 40 40

Current Price 0.50

Quantity Traded 2,123,349 2,123,349

Value Traded 1,061,674.50 1,061,674.50

Symbol OANDO

No. of Deals 140 140

Current Price 15.90

Quantity Traded 1,653,739 1,653,739

Value Traded 25,960,231.96 25,960,231.96

Symbol BECOPETRO CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 1 2 3 63 34 3 28 134

Current Price 0.50 49.20 3.61 148.99 115.00 51.72 153.14

Quantity Traded 463 3,124 30,100 327,651 61,315 1,219 60,430 484,302

Value Traded 231.50 152,497.00 103,243.00 44,080,322.88 7,206,570.09 59,901.66 9,289,797.70 60,892,563.83

Symbol SEPLAT

No. of Deals 79

Current Price 630.00

Quantity Traded 1,037,136

Value Traded 652,378,984.60

Symbol

No. of Deals 79

Current Price

Quantity Traded 1,037,136

Value Traded 652,378,984.60

5,298,526

740,293,454.89

Daily Summary (Equities)

Page

393

Symbol LENNARDS

No. of Deals 6 6

Current Price 3.31

Quantity Traded 10,000 10,000

Value Traded 31,500.00 31,500.00

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

Symbol RTBRISCOE

No. of Deals 20 20

Current Price 1.14

Quantity Traded 1,160,441 1,160,441

Value Traded 1,324,967.41 1,324,967.41

Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals

Symbol REDSTAREX

No. of Deals 4 4

Current Price 4.16

Quantity Traded 12,100 12,100

Value Traded 51,546.00 51,546.00

Symbol CILEASING

No. of Deals 2 2

Current Price 0.50

Quantity Traded 26,000 26,000

Value Traded 13,000.00 13,000.00

Symbol IKEJAHOTEL

No. of Deals 5 5

Current Price 0.63

Quantity Traded 43,640 43,640

Value Traded 26,729.60 26,729.60

Symbol LEARNAFRCA UPL

No. of Deals 23 12 35

Current Price 1.66 3.80

Quantity Traded Page 1,028,913 308,841 1,337,754

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 13 13

Current Price 0.80

Quantity Traded 824,000 824,000

Value Traded 670,400.00 670,400.00

Specialty SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

Symbol NSLTECH

No. of Deals 1 1

Current Price 0.50

Quantity Traded 31,000,000 31,000,000

Value Traded 15,500,000.00 15,500,000.00

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

Symbol AIRSERVICE NAHCO

No. of Deals 4 45 49

Current Price 2.14 4.56

Quantity Traded 38,807 1,111,782 1,150,589

Value Traded 86,927.68 5,087,995.10 5,174,922.78

Daily Summary as of 02/05/2014 Employment Solutions Printed 02/05/2014 15:46:13.013 C & I LEASING PLC. Employment Solutions Totals Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Daily Summary (Equities)

Activity Summary on Board EQTY SERVICES

Published byPrinting/Publishing The Nigerian Stock Exchange © LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

168,093,270

No. of Deals 71 19 20

Daily Summary (Equities) ASHAKACEM

OIL AND GAS Totals

Value Traded 124,695.00

Current Price

Telecommunications Services Symbol No. of Deals Daily Summary (Equities) MASS TELECOMMUNICATION INNOVATIONS NIGERIA MTI 3 PLC

Activity Summary on Board EQTY

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

Quantity Traded 146,700

No. of Deals 3

Value Traded 225,170.00 225,170.00

Petroleum and Petroleum Products Distributors BECO PETROLEUM PRODUCT PLC CONOIL PLC ETERNA PLC. FORTE OIL PLC. Daily Summary as of 02/05/2014 MOBIL OIL NIG PLC. Printed 02/05/2014 15:46:13.013 MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Value Traded 2,723,389.29 3,693,645.49 120,252.00 80,000.00 650.00 116,620.00 58,500.00 100.00 1,636,692.30 5,000.00 110,000.00 3,168.54 100.00 900.00 1,034.50 4,333,457.40 12,883,509.52

Symbol

Quantity Traded 450,340 450,340

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

Quantity Traded 3,487,075 3,709,700 240,500 160,000 1,300 220,000 26,000 200 2,185,586 10,000 200,000 5,463 200 1,800 2,069 6,143,118 16,393,011

Current Price 0.50

NATURAL RESOURCES Totals

Current Price 0.77 1.01 0.50 0.50 0.50 0.53 2.31 0.50 0.75 0.50 0.55 0.60 0.50 0.50 0.50 0.72

No. of Deals 2 2

No. of Deals 28 46 7 1 2 3 3 2 17 1 4 2 2 2 1 69 190

Page

Symbol CHAMS

Mining Services MULTIVERSE PLC

Symbol AIICO CONTINSURE CORNERST EQUITYASUR GUINEAINS INTENEGINS MANSARD MBENEFIT NEM NIGERINS OASISINS PRESTIGE SOVRENINS UNITYKAP UNIVINSURE WAPIC

0.85

Value Traded 1,198.30 1,198.30

Activity Summary on Board EQTY

Quantity Traded Value Traded 40,952,254 940,308,487.09 126,911,683 1,736,909,474.09 Page 4 of 13

Quantity Traded 230 230

INDUSTRIAL GOODS Totals

Current Price 22.70

NPFMCRFBK

Current Price 5.48

Daily Summary as of 02/05/2014 NATURAL RESOURCES Printed 02/05/2014 15:46:13.013 Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals

No. of Deals 350 1,676

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

No. of Deals 2 2

Symbol ZENITHBANK

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

Symbol

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED Daily Summary as of 02/05/2014 FIDELITY BANK PLC Printed 02/05/2014 15:46:13.013 GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC Activity Summary Board EQTY WEMA BANK on PLC.

4,067,123.09

Symbol CWG

INDUSTRIAL GOODS Building Materials CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. FIRST ALUMINIUM NIGERIA PLC IPWA PLC LAFARGE WAPCO PLC. Building Materials Totals

Value Traded 152,801,579.14 196,473,286.84

1,261,307

Value Traded 21,488.00 21,488.00

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

Quantity Traded 1,015,069 1,531,172

Value Traded 153,298.58 1,406,690.15 1,450,056.98 833,266.88 221,810.50 4,065,123.09

Quantity Traded 31,600 31,600

Current Price 151.00

Quantity Traded 65,237 511,505 21,106 471,484 187,975 1,257,307

Current Price 0.71

Telecommunications Daily Summary as of 02/05/2014 Services Totals Printed 02/05/2014 15:46:13.013 ICT Totals

No. of Deals 66 175

Current Price 2.46 2.75 69.50 1.78 1.18

No. of Deals 2 2

CHAMS PLC Processing Systems Totals

Symbol NB

Food Products--Diversified Daily Summary as of 02/05/2014 CADBURY NIGERIA PLC. Printed 02/05/2014 15:46:13.013 NESTLE NIGERIA PLC. Food Products--Diversified Totals

No. of Deals 6 23 11 15 10 65

Symbol COURTVILLE

IT Services COMPUTER WAREHOUSE GROUP PLC IT Services Totals Daily Summary as of 02/05/2014 Printed 02/05/2014 15:46:13.013 Processing Systems

Value Traded 952.56 13 of 952.56

No. of Deals 2 2

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

HEALTHCARE Totals

Symbol DUNLOP

Daily Summary (Equities) CHAMPION

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

SERVICES Totals Daily Summary as of 02/05/2014 PrintedEQTY 02/05/2014 15:46:13.013 Board Totals

Equity Activity Totals

Value Traded 11 of 13 1,712,131.27 1,182,848.80 2,894,980.07

135

35,564,524

25,688,045.86

5,383

430,096,439

3,960,319,473.46

5,383

430,096,439

3,960,319,473.46

Daily Summary (ETP) Exchange Traded Fund

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

Symbol NEWGOLD VETGRIF30

No. of Deals 1 5 6

Current Price 1,988.00 17.50

Quantity Traded Page 18 15,010 15,028

Value Traded 12 of 13 35,784.00 263,075.00 298,859.00

ETF Board Totals

15,028

298,859.00

ETP Activity Totals

15,028

298,859.00

BUSINESS | FINANCE 39

Sanctity of Truth

Monday, May 5, 2014

Emerging Markets and the semantics of Nigeria’s rebased GDP

successful economic development strategy must focus on improving the skills of the area’s workforce, reducing the cost of doing business and making available the resources businesses need to compete and thrive in today’s global economy” – Rod Blagojevich, Former Illinois Governor, USA When the twentieth century Austrian-American economist and political scientist, Joseph Schumpeter postulated that capitalism is a positive source of “creative destruction”, many economists criticized him for normative bias. But this perennial hurricane has continued to form the flagship for modern thinking on how economies evolve. He had argued that the opening up of new markets, foreign or domestic, and organizational development incessantly window-shop to revolutionize the economic structure from within. Schumpeter’s hypothesis thus set the stage for globalization, making international borders to be opened for capitals to flow freely to markets where exceptional profit-making opportunities exist. The behavioral mechanism of this transaction epitomizes the classification of economies as developed, emerging or frontier markets. Experts deploy measurable indices to exhume markets with great and prolific prospects for global investors. For instance, the US-based provider of equity, fixed income, and hedge fund stock market indexes, and equity portfolio analysis tools, MSCI through its Market Classification Framework, examines each country’s economic development, size, liquidity and market accessibility in order to classify it in a given investment universe. Its report acts as a magnetic compass for investors in determining investment destination and strategy. According to EPFR Global, a total of $50bn was invested in emerging markets in 2012. Then the crucial questions: Where is Nigeria in this powerful global equa-

tion? Do we have the kind of development that adds up to global credibility as to woo large chunk of foreign direct investors (FDI)? Succinctly put, the May 2014 Semi Annual Index Review of the MSCI global stock analysis pencils Nigeria under the Frontier Markets. South Africa and Egypt are the only African countries classified as Emerging Markets. The reports show that Qatar and the United Arab Emirates have progressed from Frontier Markets to Emerging Markets, and are reclassified. This is not a cherry news! One wonders the relevance of our celebrated “rebased economy – largest in Africa” when it cannot reflect our position in international rating. Never mind, President Goodluck Jonathan and his economic protagonists at Aso Rock will sure find a way to discredit or ridicule the MSCI report! But a closer look at the indices utilized for markets ranking show that the Federal Government needs to stop this euphoria and get to work. Some of the indices include: Average GDP growth, average inflation rate, average government debt as percent of GDP, average percentage points change in government debt as percentage of GDP, and average total investment as percentage of GDP. Others are on areas of particular interest to foreign investors - the ease of doing business, perceived level of corruption and economic freedom. This explains why smaller economies like South Africa enjoys the same Emerging Markets category with China - seen as the world's economic powerhouse. Both South Africa and China have progressed on policies and developmental projects that stabilized their economy and opened up their markets to "emerge" into the global scene. Policies and Prospects woo foreign investors, not statistics! With the nominal GDP at $509.9bn (N80.2 trillion), 77 percent more than the GDP of all other West African countries, Nigeria would have been in-

Ojiabor

stantly reclassified among the Emerging Markets. Yes, the current GDP elevates the country 14 places on top of Argentina, Austria and Iran and after Norway, Poland and Belgium. This ranks Nigeria number one economy in Africa and third in OPEC. But the sad situation is that, irrespective of these huge fortunes, Nigeria may continue to wobble among the world’s poorest countries. Over 70 percent of Nigerians still live below the UN stipulated poverty line – less than $1.25 a day. I think every patriotic Nigerian should be asking at this level: How can our “large economy” translate to real economic development reminiscent of peoples’ true standard of living? The truth is: Higher percentage of global investors may continue to shun Nigeria unless government tackles all suffocating factors militating against the country’s economic and political development. Nigeria’s bogus GDP may amount to nothing if the Federal Government doesn’t, as a matter of ur-

gency, confront the sandbags of corruption, insecurity, high exchange rate, human rights abuses, unemployment and ease of doing business challenges. The World Bank Ease of Doing Business survey recently ranked Nigeria at 147, slightly ahead of Iraq and Sudan. South Africa and Ghana are ranked much higher at 41 and 67 respectively. Nigeria ranks lower than its peers in three crucial segments of Protecting Investors, Getting electricity and Trading across borders. The country also came 144th out of 177 countries in Transparency International’s Corruption Perception Index. According to the IMF, continued weaknesses in labour markets, access to electricity, cost of doing business, and small and medium enterprises’ access to finance have prevented Nigeria’s transition to a more robust and inclusive growth track. This is where the problem lies! Sadly, instead of addressing this monster, the Federal Government expended its energies in rebasing the economy; and has rolled out drums to celebrate. Don’t get me wrong! I’m not saying it’s bad to rebase our economy. What I am saying is that we need to put down the drums and patch our seeping economy! Please, Mr. President and team redirect your focus; Nigeria is still bleeding! According to John W. Snow, the former US Secretary of the Treasury, global economy is engaged when we advance the interest of our citizens. Nigerian Government should strategize and marshal out a more effective way to utilize and manage our resources, to improve the per capita income and living standard of Nigerians. Poverty level in Nigeria is too flamboyant to be masked by any rebased economy! This will sure magnet the type of investment portfolio and development Nigeria needs to get to the Promised Land. Ojiabor is Head of Media, JSP Communications Limited

S&P miscalculated risk in postponed mortgage bonds, says Fitch

S L-R: Founder/Creative Director, Maki OH, Maki Osakwe; Executive Director, Polo Luxury Group, Jennifer Obayuwana, and Creative Director Stylehouse Files, Omoyemi Akerele, at the Women Inspiration and Enterprise Africa symposium held in Lagos. PHOTO: SULEIMAN HUSAINI

Eurozone unemployment numbers fall in March

urozone unemployment numbers have fallen slightly to 19.81 million, according to EU figures for March. Unemployment for the area, according to the British Broadcasting Corporation (BBC), is down from 19.84 million in February. The unemployment rate has remained at a steady 11.8 per cent since December 2013, but numbers of unemployed in the area have gradually fallen since January.

The figures bolster European Central Bank (ECB) projections of steady economic growth in the currency area, economists said. Timo del Carpio, European economist at RBC Capital Markets, said the figures "lend more weight to the view that unemployment in the euro area peaked late last year, which will offer some degree of reassurance to policymakers that the recovery is slowly gaining traction."

The March unemployment figures are an average for the 18 countries in the Eurozone. There are large differences in employment between countries. Austria had the lowest rate of unemployment, at 4.9 per cent, while the country with the highest unemployment rate for March was Spain, at 25.3 per cent unemployment. However, the most recently available figures for Greece put unemployment at 26.7 per cent for January.

tandard & Poor’s underestimated the risk of mortgage-backed securities it had planned to rate before the deal was postponed, according to competitor Fitch Ratings. S&P’s preliminary rankings, which were pulled Friday after the issuer said it would delay the sale, relied on optimistic home values, Fitch said today in a report. S&P said in a statement it had asked for more information from issuer Bayview Asset Management LLC after releasing the planned grades as the deal started to be marketed. Based on the propertyprice estimates of realty brokers instead of the computer models relied on by S&P, Fitch said the loans exceed current home values by more than 45 per cent. That would increase projections for defaults by about 20 per cent and the size of losses after foreclosures by 30 per cent, Fitch said in its statement. The $184.9 million transaction, called Bayview Opportunity Master Fund IIIa Trust 2014-9RPL, would be the first sale since the fi-

nancial crisis of publicly rated securities backed by once-delinquent mortgages, according to Fitch. Similar deals without credit grades have been completed as recently as July 2013, GlobalCapital reported April 28 on its website. Ed Sweeney, a spokesman for S&P, declined to comment. S&P said in a statement that Bayview sought to delay the sale after the ratings company requested more information about property valuations and loss severities. Brian Bomstein, general counsel for Bayview, declined to comment. The Coral Gables, Florida-based mortgage investment and servicing firm is partly owned by affiliates of Blackstone Group LP, according to its website. Fitch and Moody’s Investors Service (MCO) have led rating firms criticizing rivals’ grades as the companies seek to rebuild their reputations following the 2008 financial crisis fueled by inflated rankings on mortgage securities.

40 BUSINESS | GLOBAL NEWS

Sanctity of Truth

Monday, May 5, 2014

Fed may hike rates in June 2015

he Federal Reserve could start raising benchmark interest rates in just over a year, based on trading in US short-term interest-rate futures after a government report showed employers added many more jobs than expected in April. The surge in job creation, which topped economists’ expectations by over 30 per cent, helped push US unemployment to a 5-1/2 year low. Traders bet that the rosier jobs picture could prompt the Fed, which has kept rates near zero for over five years, to raise rates as soon as next June, about six weeks earlier than traders had forecast before the report. But the jobs data also showed a sharp decline in labour force participation, a rate that Fed Chair, Janet Yellen, has said she watches closely. A drop in the rate is seen as sign of labor market weakness. Senior economist at Ameriprse Financial in Troy, Michigan, Russell Price, said: “The big drop in the unemployment

rate may cause some concerns in consideration of what the Fed may do. But I still think that we’re looking at a second quarter of 2015 likelihood for the first consideration for the hike in the Fed funds rate.” Futures contracts tied to the Fed funds rate, the US central bank’s target rate for overnight lending between banks, dropped after the reports. The contracts show markets are assigning a roughly 50 chance of a first Fed rate hike in June 2015, based on CME FedWatch, which tracks rate hike expectations using the contracts. Before the report, they showed traders gave a first rate hike in June 2015 only about a 47 per cent chance, and that they thought the Fed was much more likely to wait until July 2015 to raise rates. The Fed has targeted shortterm rates of between zero and 0.25 per cent since December 2008, and has promised to keep them there for a “considerable time” after it ends its bond-buying program.

Apple win falls short of $2bn damages from Samsung

pple Inc. (AAPL) has won only $120 million from Samsung Electronics Co. (005930) in a jury trial over smartphone technology. Apple had sought a $2 billion damages. The jury also found that Apple infringed one Samsung patent, awarding it $158,000. The verdict sets the stage for each company to seek a judge’s order banning U.S. sales of some older devices found to infringe its patents. An assistant professor at the Santa Clara University School of Law, Brian Love, said in an e-mail: “It is hard to view this outcome as much of a victory for Apple. This amount is less than 10 per cent of the amount Apple requested and probably doesn’t surpass by too much the amount Apple spent litigating this case.” The world’s top two smartphone makers have spent hundreds of millions of dollars in legal fees on battles across four continents to dominate a market that was valued at $338.2

billion last year, according to data compiled by Bloomberg. Samsung had 31 per cent of industry revenue, compared with 15 per cent for Apple, whose share of the market has shrunk as the touch-screen interface has become more commonplace and Samsung, LG Electronics Inc. (066570) and Lenovo Group Ltd. (992) have introduced lower-cost alternatives. Apple wanted Samsung to pay as much as $40 for each phone sold that uses infringing technology, for a total of $2.19 billion. Samsung argued that the jury should award no more than $38.4 million for any infringement damages. The verdict doesn’t slow down Samsung at all because the implied royalty rate is so low that Samsung doesn’t need to worry about paying it. It was absurd for Apple to ask for $2 billion. That was a case of ‘Am I going to laugh now or laugh later?’ a 3LP Advisors LLC partner, Kevin Rivette, said.

China’s April services growth quickens slightly –Survey

rowth in China’s services sector accelerated slightly in April as new orders held steady, an official survey showed, an encouraging sign of strength in an economy that otherwise faces a cloudy outlook. The purchasing manufacturing index (PMI) for the services industry edged up to 54.8 last month, the National Bureau of Statistics said, up marginally from 54.5 in March. A reading above 50 in PMI surveys indicates growth on a monthly basis, while a number

below that threshold points to a contraction in activity. The mild improvement in the services sector, which mirrors a marginal gain in the official PMI survey of Chinese factories in April, should be welcomed by investors fretting about the health of the world’s second-largest economy. But the pick-ups in the official PMI surveys for factories and services firms would not be enough to dispel concerns that China’s slowing growth engine might cool at a sharper pace faster in coming months.

President Barack Obama and Janet Yellen.

JPMorgan sees 20% drop in Q2 markets revenue

he world’s biggest investment bank by revenue, JPMorgan Chase & Co. (JPM), said Wall Street’s trading slump has deepened and could last through the second quarter. Fixed-income and equities trading revenue will drop about 20 per cent from a year earlier at the New York-based company amid “a continued challenging environment and lower client activity levels,” JPMorgan said in its quarterly regulatory filing. Chief Executive Officer, Jamie Dimon, 58, was the first head of a major U.S. bank to warn investors this year that trading was down, saying in February that revenue had fallen 15 per cent. Continued weakness has spurred analysts, including Chris Mutascio of Stifel Financial Corp.’s KBW unit, to ponder whether the drop in fixed-income trading might persist through 2014 and beyond. An analyst at Portales Partners LLC, Charles Peabody, said: “It’s an industry phe-

nomenon, and other banks allow JPMorgan to grease the skids for them so there can be a gentle letdown process.” A 20 per cent revenue slide from the $5.37 billion JPMorgan posted in last year’s second quarter would mean results of $4.3 billion this period. That figure, along with the first quarter’s $5.06 billion, would mark the bank’s worst first half in trading since the financial crisis. “The trading division’s actual results will hinge on its performance during remaining months in the quarter, which “can be volatile,” the company said. Analysts have cited the Federal Reserve’s decision to slow its bond purchasing program for some of the decline, which eroded first-quarter results at the biggest U.S. financial firms from Bank of America Corp. to Goldman Sachs Group Inc. Morgan Stanley, which is concentrated more on equities than bonds, was alone in registering a trading rise dur-

Huawei plots future elsewhere as US trust stays elusive

hina’s biggest maker of phone-network equipment, Huawei Technologies Co., is focusing investments on countries in which it has been accepted, because of lingering suspicions in the US about its motives. Founder and Chief Executive Officer, Ren Zhengfei, said: “Right now we should not be expending too much effort in the United States as it might take 10 or 20 years for them to know that Huawei is a company with integrity. We will accelerate efforts in countries that have accepted us.” Ren, 69, set up Huawei in 1987 after retiring from the Chinese military in 1983. Since then, he has built the company into the world’s largest maker of equipment for phone networks behind Ericsson AB (ERICB), even with-

out access to the US telecommunications market, where “Huawei has battled claims that the company’s gear may provide opportunity for Chinese intelligence services to tamper with networks for spying. The closely held company has repeatedly denied those allegations, and doesn’t see a public listing as a way of building trust,” Ren said. He added: “By increasing our level of transparency, we still may not be able to address the US government’s concerns. The reality is that shareholders are greedy and want to squeeze every bit out of the company. Not listing on the stock market is one of the

ing the first three months of the year. Still, Chief Financial Officer, Ruth Porat, said that she saw continued weakness. “The volumes that we talked a lot about during the first quarter - lower activity - we’re continuing to see that really does persist into the second quarter,” Porat said. JPMorgan gave forecasts on other business units in a new section called “selected outlook items.” The company affirmed that mortgage banking will post a pretax production loss of $100 million to $150 million in the second quarter, driven by higher interest rates. Companywide expenses will be lower than the $59 billion reported last year. First-quarter profit fell 19 per cent to $5.27 billion, driven by a 21 per cent tumble in fixed-income trading, JPMorgan said on April 11. The stock declined five per cent this year through weekend’s close of regular New York trading, compared with a 1.8 per cent increase for the Standard& Poor’s 500 Index.

reasons we have overtaken our peers.” Even as Huawei fights cybersecurity concerns that have restricted access for its network equipment in the US and Australia, the company said last month that its sales will rise 77 per cent to $70 billion by 2018, from $39.5 billion last year. To reach its target, Huawei is broadening its portfolio with smartphones, tablets and business-computing products, and cloud services. Ericsson, which divested its mobile-device business to focus on network equipment, has reported stalling revenue for two consecutive years.

ENTREPRENEUR STO R I ES O F BU S I N ES S S U CC ES S ES

B RUESAI LNI ET SY S

NEW TELEGRAPH

newtelegraphonline.com/entrepreneur

MONDAY, MAY 5, 2014

How to do business in hard times

Remi Dairo is the CEO, Solvere Word Consult and President, School of Productivity. You can reach him on : +235 815 397 6354, +234 803 590 0175T or E-mail: info@schoolofproductivity.org

ecession is no news in this part of the world. For decades, “financial challenge” has been the song of business starters while employees clamour for pay rise because their take home pay cannot take them home. Everyone is crying for a better life in the midst of austerity. How many times does an average Nigerian eat a balance diet? The noise about economic recession hit the world when it showed up in the World’s Power Economy, The United States. That is hardly surprising as there is always much publicity when the chips are down in America and Europe, amongst other first world countries. It will interest you to know that recession has always been part of the developing world;

I PD EA RENEUR

the third world, where Nigeria falls. The idea is therefore not about hard times but what to do during hard times. So I ask, “What should the average Nigerian know and do in order to perpetually step out of recession?” The circle can be broken if you know what to do. If you are a Nigerian businessman or woman, here are a few productive steps that can take you out of recession permanently. Find your purpose: Ask yourself questions like; why was I born here? What am I here for? What do I have to offer? To whom am I sent? Why was I not born in America or Europe? If you don’t know your purpose, you may likely be living a frustrating life. When the purpose of a thing is not known, abuse becomes inevitable. Many have been abused in life because they lack the understanding of their purpose. Understanding your

“In any recession, there are thousands of problems to solve. There’s the problem of food, transportation, clothing e.t.c It is your responsibility to find out the problem you can solve. No one solves a problem without gaining some value in return. One way or the other, you will always be paid. Develop a solutionseeking mentality and you’ll always have resources at your disposal.” purpose will help you know the problem you are here to solve. Many suffer during recessions because they lack purpose. Be on the lookout for problem: In any recession, there are thousands of problems to solve.

There’s the problem of food, transportation, clothing e.t.c It is your responsibility to find out the problem you can solve. No one solves a problem without gaining some value in return. One way or the other, you

will always be paid. Develop a solution-seeking mentality and you’ll always have resources at your disposal. Develop your product: It is not enough to find the problem; you have to convert your solutions into products. Your product must be a solution to a problem, answer to some questions and relieve to a particular tension. That’s how to flourish in a recession; people don’t just buy products, they buy solutions. During recessions, resources always flow in the direction of solution providers. C O N T I N U E D O N PA G E 4 2

1O business lessons from billionaire businessman, Mike Adenuga Emenne Ifeanyi is the Senior Vice President, Strategy and Development, Corporate Kanselor. Phone: +234 802 632 2171 Email: emenneifeanyi@yahoo.com www.richnigerianpharmacists.com www.facebook.com/richnigerianpharmacists

ometime ago, I wrote on business lessons from Africa’s Richest Man,

Aliko Dangote. Today, I’ll be offering you business lessons from Otunba Mike Adenuga, an enigma in the Nigerian business world. This man has single-handedly run a group of companies that occupy the top twenty companies slot in Nigeria. I have taken some time to study his businesses, here are 10 lessons any business owner can learn from. Focus on what is working for you and not what the professionals are saying Mike Adenuga follows

his own rules in business. He has developed business models that others once said are not possible and deployed them. He went for the “per second billing” system in telecoms when other telecom companies said it was not possible. He ran a fibre optic cable from Europe to Nigeria when experts said one man couldn’t do it. LESSON – Listen to experts but practice only what has been giving you great results. Let the experts prove their the-

ory before you accept them. Be involved in selecting your management team Ask any senior staff of Globacom or Conoil and they will all tell you that Otunba must interview you before you get a job. LESSON – play a key role in selecting your key staff. Never delegate key staff recruitment to others. You don’t have to do the training; employ skilled people others have trained Mike Adenuga realised early enough that the most

difficult people to market things to were doctors. He knew that phar macists were specially trained to market to doctors. Since he was coming into the market quite late, he needed people trained to market in a very challenging environment. He thus poached as many pharmacists as possible to help him break into the very difficult telecoms market. At a stage he had more pharmaC O N T I N U E D O N PA G E 4 4

42 BUSINESS | ENTREPRENEUR

SF I NM E ANCE

Sanctity of Truth

Monday, May 5, 2014

2014: Taking stock

BUSINESS

R EA L I T Y How to do business in hard times C O N T I N U E D F R O M PA G E 4 1

Gbonjubola Sanni, is an associate member of the Institute of Chartered Accountants of Nigeria. She worked in the Audit Practice of KPMG Professional Services, Lagos (Nigeria) and as Financial Planning and Analysis Manager in Cadbury Nigeria Plc. Email: gbonjute@yahoo. co.uk Phone: 08028268924, 08072692134 Blog address: www.gbonjubolasanni.wordpress.com

e are in the month of May, the fifth month of the year. This is a good time for you to review how you fared financially in the last Four months. Like we all know, progress will only occur when we are determined to change the way we do things. You can’t continue to do things the same way you have done it and expect a different result. It won’t work that way. Setting goals and reviewing them periodically is a great way for you to make that

30 SECONDS LECTURE

big shift in your life. Find below some of the questions you need to ask yourself. Don’t just stop at asking the questions only; take the necessary steps that will bring you closer to your goals and life dream. Did you have your financial goals written out at the beginning of the year? I come across people daily who continually have their goals in their minds. The faintest pencil is better than your brain. Learn to write down the vision if it isn’t your custom yet. If you didn’t have any before the year started then it is time to write it down. Did you achieve your income goal? Or did you surpass them? Did things go the way you envisaged? What did you do to make it happen? What can you do to make things better in the second quarter and onwards? Were you able to increase your income streams? If no, this is the time to begin to consider opportunities in that regard.

POWER “I have always known that whatsoever you do and you do well enough, money will not be a problem. If you provide certain services and provide it with worldclass quality, people will always pay you” – Kelechi Amadi-Obi, Celebrity Photographer

POINT

Quality: Are you offering superior quality products and services to your target market?

“Were you able to pay down your liabilities this period? Or did you just increase it? Was the increase used for something that will help you generate more income or was it to finance your many wants and cravings?” Were you able to keep your expenses within the confines of what you planned? If no, what was the reason? What can you change in your lifestyle to help you manage your expenses? You don’t necessarily have to reduce your expenses but you can work at managing them. Did you record any positive cash flow? By that I mean - was your income greater than your expenses in the period under

review? If yes, where is the difference? Is the cash safe from you? Do you have an escrow account? Do you have an accountability partner ensuring that you don’t go back to square one? Depending on what the balance of your escrow account is, are there any investments you can be a part of to help you put your money to work? Which assets can you buy? Or can you get a leverage to secure an asset? Were you able to pay down your liabilities this period? Or did you just increase it? Was the increase used for something that will help you generate more income or was it to finance your many wants and cravings? How about your business? How has it fared? Are you making progress? All the questions will also apply. How about helping your child get started financially? What are you doing about that? Have you made some progress? Answer these questions honestly and let it help you as you revisit your financial goals and budgets for quarter two.

Are you one? Give it a fantastic package: Your product must have fantastic packaging so that it can attract the right people to buy. Poor packaging translates to poor pay. Your packaging distinguishes you in the marketplace and gives you a marketing edge. Packaging affects your pricing. If your product has good packaging, you can’t go down in a recession. Somebody somewhere would always go for a well-packaged product. Find your market, find your people: Finding people who need and are willing to buy your product is very essential. If you don’t define your market well enough, you may not make a great deal during a recession. People are the reason for your product. You need to search for them, know their choice, taste, buying power and so on. If you must excel in a recession, you need to do a thorough market research. The fact remains that there are people looking for the exact product you are offering. Find them! You must have a place: Location is very important in a recession. After you have found your purpose and your product, you must have a location where people can reach you. A strategic place makes it easier for people to locate you. It is important that you are not far away from where people can access you. Multiply your selling points over time so that you can make multiple sales. A man who has strategic sales points cannot go hungry in a recession. Have a platform: It is very important to have a platform where you are legally visible to your world. Registering a business name, belonging to a social group (internet networks like Facebook, Twitter etc) can be a good platform to announce your product to people. In a recession, relationship is very key. In fact, you spend relational capital more than financial capital. Where would people find you? Do you have/belong to an NGO, a company or a stage to access your world? If you follow the above steps, you will always have a smile on your face when others are grumbling. Be wise!

How well is that business performing? Quick delivery:

Delivery reliability:

If competition is offering same quality, have you tried delivering it faster?

Are you consistent in this delivery? Can you be relied upon to deliver time after time?

Design: Does competition have better designed products? Who does your design appeal to?

Product changes: When last did you make functional, value-driven adjustments to your products?

Price: At what cost are you delivering your services or products? Is it consistent with business reality?

BUSINESS | ENTREPRENEUR

Sanctity of Truth

Monday, May 5, 2014

ENTREPRENEUR OF THE WEEK

Praise Fowowe, Family Life Consultant:

I love to explore and create STRATEGY

I have had to create a mentorship system which helps me hire from within Tell us about yourself, particularly your business? My name is Praise Fowowe. I am a Family Life Consultant. Basically, my job involves generating family life solutions in form of products and services to make life easier for every family. Our business primarily focuses on generating simple solutions to complex family problems. Our services include but are not limited to; Pre-marital solution sessions, Post marital and marital crisis management, Sex addictive therapy, Child sexual abuse prevention and response services, Domestic Assistant recruitment and deployment and Pleasure Cab Services. How does your work serve other businesses and the economy in general? It is a known fact that what happens at home affects what happens at work in most cases hence we consider ourselves as the live wire of the economy. This is visible in the fact that we constantly seek to ensure that the home front is

safe which ultimately takes a lot of worries off our clients. For example, loads of kids are being messed up by house helps whose origin many parents can’t trace and whose communication is below the expensive schools parents send their kids to. We recruit well trained graduates and deploy them as domestic assistants to work with families from morning to evening, in a way that parents don’t have to worry about sexual abuse, how well their home is structured or who is talking to their kids. Taking the stress and worries of running the household off families has created an emerging market in that kind of service. This automatically creates employment opportunities for graduates who ordinarily would have been sitting at home. Like we always say, “It’s better to build a child than try to repair broken adults” Interventions, such as ours, guarantees wholesome future for the economy and the people who drive it. What is the attraction for you? The attraction for me is the fact that we are creating a path never trodden before. Even more interesting is the fact that this part is measureable. I love the concept of family and can’t stand a

messed up family hence my decision to build everything we do around the family and family life. Personally, I love to explore and create what has never been done before and that is what drives me each time to create new things. But above all, I have always believed that as humans, we can experience “heaven on earth” in all that we do. That is our guiding principle. How has it been since you started? Exciting, difficult or satisfying? We don’t see challenges, we see opportunities all the time and we keep taking steps in the direction of the vision we see. The major challenge was the fact that nobody wanted to deal with the issues of sexuality education when we started but with the awareness about child sexual abuse everywhere, it became easy for people to relate with us and our interventions but I must say that it has been satisfying look at our client base at the moment. We are not where we would want to be but the truth is that we have made great progress over time. What stands you out from the competition? We try not to copy anyone and that has taken us off competition as people have come to trust us overtime because of the quality of diligence we put into what we do. We have always wanted to be an organisation of choice where family matters are concerned and that informs the multi-faceted approach to our operations. We ensure that our people live up to our values, first, in their private lives, before they go out to assist others. We are quite detailed at what we do but above all else, we say to everyone that we have a BOSS who runs the script and we simply act it out and that is the key reason we are bold enough to say that we live above competition. Did you always know you’ll be an entrepreneur? From my 200level in the University I knew I wanted to be on my own and that drove me to experiment with a lot of things. I painted doors for builders earning 500 Naira daily and that sustained me and my friends while I was in school. I also tried my hands on a special local drink called “Zobo” that I called “Zobeen” which I sold in a couple of churches in Lagos as a graduate. I earned money playing drums and performing for clients during wed-

“That someone is successful on a particular path doesn’t make the path good enough for you. Find your place and stay in that place. Create a standard that your competitors would applaud. Ultimately, work for posterity and ensure your delivery is good enough for your customers to become your marketers and for your competitor to recommend you.”

dings before now. I created a special subject for a school in 2003 and was earning 5 Thousand Naira as well, in my quest for freedom. I have done several things and experimented with so many things before now so there has always been that entrepreneurial flair in me. It has always been in me to create something new. I live my life by the Jewish proverb that says ‘It is better to get your hands dirty and eat than to be too proud to work and starve’ What would you say is the biggest challenge of entrepreneurs today? What’s your biggest challenge? I think the biggest challenge I hear from most people is the enabling environment especially because the overhead cost is high from the point of view of having to generate your own power and water but for me, the greatest challenge, especially in Lagos, is traffic and skilled manpower. Traffic in the sense that you waste precious time trying to move from one place to another in traffic which could affect productivity but the most important headache is that of skilled man power which I have discovered is a home training problem. You hire a graduate and you realise he or she has attitude that sucks and now you have to be a boss and a parent; spending a lot of time retraining because loads of people have been so damaged that they can’t deliver on any given task. That is the biggest challenge for me. But I have had to create a mentorship system which helps me hire from within. What’s your turning point in business? My turning point was when I left paid employment in 2003 and realised no salary was going to come at the end of that month. It drove me into learning to stretch my brain to create value that people would be willing to pay for but I can’t also forget the fact that I have been a beneficiary of some strong mentorship platforms and systems which has helped me grow as a person and as an organisation. But the most important turning point was my discovery of how spiritual matters can translate to products and services and how spiritual principles can be applied to everything we do and how a business is run. How do you see the economy in the next 5 and 10 years? Nigeria is a growing economy which will explode with the right government because if we have done this much with all the challenges in the country then I wonder what can happen if we have half of the systems available in some of the first world countries. What’s your advice to those coming into your line of business? Very simple: Be clear about what you want to do, discover your own path and don’t do it because someone else is doing it. That someone is successful on a particular path doesn’t make the path good enough for you. Find your place and stay in that place. Create a standard that your competitors would applaud. Ultimately, work for posterity and ensure your delivery is good enough for your customers to become your marketers and for your competitor to recommend you.

44 BUSINESS | ENTREPRENEUR

I P RDE N EE U RA C O N T I N U E D F R O M PA G E 4 1

cists working for him than a lot of pharmaceutical companies. LESSON – Employ great people others have trained. Do not start a new business with novice employees. Study other industries to see how they are overcoming key challenges, and then borrow their strategies. Maintain your cool even under attack When Sanusi was made the Governor of Central Bank of Nigeria, he went after Akingbola of Intercontinental bank who had opposed his nomination. Instead of giving Intercontinental Bank a few months to shore up their capital base, he slammed the bank shut. Unfortunately Adenuga’s Equatorial bank was also low on funds at that moment and to look like he was not targeting Akingbola, Equatorial Bank and Oceanic Bank suffered the collateral damage of Sanusi’s actions. Despite all the double standard cries that followed, the same Sanusi gave United Bank for Africa time to shore up their asset base, Adenuga never lamented for a day. After all, compared to paying for the landmark undersea cable, shoring up the bank’s finances was peanuts. The billionaire never fought Sanusi openly. LESSON- There are injustices you must not cry out or shout about. Sometimes business owners must learn to accept certain damages to their business and reputation in silence. Succession planning is key: Who is taking over from you? Presently Otunba has two of his children as executive directors. These chaps got the best business management education before joining the organisation. LESSON -If you are

Sanctity of Truth

Monday, May 5, 2014

1O business lessons from billionaire businessman

anyone. I don’t know how he does it because it takes a lot of courage to ignore some of the things that have been said about him. LESSON – You must master the art of smiling and walking away when people expect you to strike back. If Nigerians don’t deliver results, try foreigners When he started he had top Nigerians as executives, but when he did not get good enough results, he employed an Indian to manage Globacom for him. LESSON – If your people do not give you results, fire them and get people that will give you great result irrespective of where they might come from.

building a great organisation, start on time to train your children so that they can move your business to the next level. MKO Abiola’s businesses collapsed because his children were not groomed to handle a multi -billion Naira businesses. Never isolate your children from the principles

you are using to drive your business success. Forget gossip and focus on what you do best You will hear a lot of gossips about Mike Adenuga but you will never hear him joining words with

“He knew that pharmacists are specially trained to market to doctors. Since he was coming into the market quite late, he needed people trained to market in a very challenging environment. He thus poached as many pharmacists as possible to help him break into the very difficult telecoms market.”

Take on projects that need some element of faith to accomplish Think of Glo when it was launched. Think of Glo One cable when it was launched. These are projects most people can never get their mind to undertake. LESSON – Stop trying to start small businesses. Go for a business that will require you to have some element of faith to start. Start projects people say you cannot achieve. THINK BIG! Understand politics Like most multi-millionaires, he has mastered the art of political economics. You will likely not see him openly support a party but you will see politicians appreciating him. LESSON- Never detach yourself from the politics of your community or associations. Play a role in any organisation whose decisions can adversely affect your businesses.

B ULSI BIRNA REY S S What are you reading this week? Entrepreneurs who lead, read. Here is one book you should read this week.

The Creative Entrepreneur . by Lisa Sonora Beam

he Creative Entrepreneur is an award-winning book on creativity and business for the creative minded who want to do what they love, and make a difference. The author, Lisa Sonora Beam is worth reading and listening to. Word has it that in 2000, she realised that she could use her marketing and advertising ability for good, so she founded Digital Hive EcoLogical Design - a communications firm that specializes in promoting green and social products and enterprises. The book, Creative Entrepreneur will motivate you to try out new ideas that will grow your business.

For feedback and Information Please contact the Project Coordinator: ENTREPRENEUR Phone: +234 803 721 9064 | +234 809 551 0411 | Email: mailyourthoughts@gmail.com | www.book-brands.com

METRO

May 5, 2014

Taiwo Jimoh

29-year-old man, Kingsley Ekerete, is now in police custody for allegedly killing his seven-yearold daughter, Favour. The commercial bus driver, who hails from Nto Osung community in Ikot Ekpene Local Government Area of Akwa Ibom State, according to the police, was enraged when he discovered that his daughter had eaten his “reserved” rice. The First School Leaving Certificate holder has to drive his bus daily through the bustling traffic of Port Harcourt, the Rivers State capital, to make ends meet for his family. As usual, on April 12, he returned home at 7pm, but famished. He went straight for the pot of rice he had prepared before leaving for work only to find that his equally hun-

The Sector Commander of the deral Roads Safety Commison (FRSC), Dr Umar Gummi, wever, said that the auto-crash as yet to be reported to the comand. Also, the state Police Public lations Officer, DSP El-Muspha Sani, said the Divisional lice Officers in Tambuwal and agari had not reported the indent. He said: “I have been trying get their lines but could not so up till now. I will furnish u with the details anytime I t them.”

me draw

nto their houses. According to him, the Lagos Mortgage Board is creating jobs hrough its management of the everal estates in line with the overall objective of the government to create economic prosperity through development of nfrastructure.

Man murders daughter over plate of rice

The grave

Ekerete standing over Favour’s grave

gry daughter had eaten the food. Ekerete’s animal instincts were aroused and in a fit of mad rage he descended on the innocent girl. Favour, who, according to report, was ill before then, cried herself to sleep. Her illness became aggravated because of the

excessive beating from her father. She died a few hours after the beating. The man then placed the body in a corner of his one room apartment in Obeama, Oyigbo Local Government Area, which he shares with his two other chil-

dren aged two and three. The body stayed there for a whole night. After the neighbours had gone to sleep, Ekerete wrapped the body in his own clothing, armed himself with a shovel and buried it in a shallow grave behind his room. Ekerete’s evil act would have probably gone unreported but for the inquisitiveness of a female caretaker of the house, identified as one Ugwu. The caretaker queried Ekerete over the unexplained disappearance of Favour, described as the darling of neighbours. The man tried to cover up his deeds but Ugwu, who was not convinced, told a neighbour, one Pastor Emeka Onuoha of Jesus Reigneth Ministry. In the ensuing confrontation, Onuoha flagged down policemen attached to the Afam Police division who were on patrol.

The police arrested the man and after interrogation transferred him to the State Criminal Investigation Department (SCID). Later Ekerete took policemen to the place he buried his daughter. His wife, according his parents, abandoned her marriage because of Ekerete’s wired behavior. The state Commissioner of Police, Tunde Ogunsakin, who spoke on the issue, said that his men, on receiving the file case from Afam police station, noticed that Ekerete’s explanation on the missing daughter was suspicious and that efforts to reach the mother were rebuffed when police started investigation. According to Ogunsakin, this is a case of homicide and considering the nature of the crime, Ekerete needs to go through a psychiatric test before he is arraigned in court.

Road construction: Our expectations high –Ogun residents Samuel Inyang

he residents of Alagbole and Akute in Ifo Local Government Area of Ogun State have expressed hope that the construction of the Sango – Akute Road would be completed on schedule. The people, who said many of them suffered losses when their houses, shops, structures housing their business concerns, etc, were demolished to give way for the road, told NT Metro that the road, when completed, would impact positively on their social and economic fortunes. One of the residents, who gave his name as Mr Aruwa, said though the government was yet to compensate him for his demolished house, he was excited about the construction of the road. He said: “I like the way they

are constructing the new bridge on the road; they are doing it well.” Aruwa also said that the road would reduce traffic congestion and would bring development to the area. “I really hope and I pray that they do it well and fast too. All my pains and agony should be for the good of this area,” he added. A businessman, Mr Segun Idowu, said he had lived in the area for more than three years, disclosed that the demolition affected neither his house nor office. He said: “The construction of the bridge is a good idea because the gridlock in this area is terrible. I have to wake up and set out for work very early. One can spend about two hours at a spot. “The work is going on fast and they are doing it well. I am impressed. I just pray that they finish it on schedule.”

A secondary school student, Chidera Okenwa, said she had become a perpetual late comer at school because of the traffic jam on the road. She said: “My house is about 10 minutes’ drive to school but I spend about two hours on the road every morning. I get to school most time very late because of the traffic whereas I wake up very early. “I’m really happy they are fixing this road. I will be able to get to school and return home early, read, eat and have time to rest.” Another resident, Rev. Kanimo Inyang, also corroborated the views of others. The architect cum pastor said the traffic situation in the area was too stressful. He commended the administration of Governor Ibikunle Amosun for embarking on the road project.

Akute bridge contruction site

inde’s murder, group urges Jonathan, Abubakar

the former Principal Private cretary to Governor Adams shiomhole of Edo State must be und and brought to justice. The National Coordinator of e organisation, Okechukwu wanguma, said in a statement at it was exactly two years yesrday when the former labour nionist and democracy activist as murdered by gunmen in his sidence in Benin, Edo State on

May 4, 2012. He said: “Two years on, the directive by President Jonathan to security agencies in Nigeria to ‘fish out the killers’ of Oyerinde and to resolve previous politicallymotivated killings in Nigeria is yet to yield the desired result, which is justice for Olaitan, his family and allies. “Two months after President Jonathan’s directive, and in the

weeks close to the Edo State governorship election, the IG announced that four suspects had been arrested in connection with the murder of Oyerinde. “Two weeks after the Edo State governorship election on July 12, 2012 the police arrested Rev. David Ugolor, the Executive Director of Africa Network for Environment and Economic Justice who was also a close friend to the slain

Oyerinde.” Nwanguma recalled that the police claimed that one of the suspects in their custody named ‘one David’ was the sponsor of the murder. The police paraded Ugolor and claimed that he was ‘positively identified’ as the sponsor. “However, the suspect who ostensibly identified him during the identification parade later recanted saying he never knew Ugolor.

Residents trekking through the site.

PHOTOS: SAMUEL INYANG

NEWS 47

Sanctity of Truth

Monday, May 5, 2014

OPPOSITION APC in cat and mouse politics with PDP over use of stadium for congress

Dan Atori

MINNA

o fewer than 83 candidates of the All Progressives Congress (APC) have been cleared to contest elections into various positions in the Niger State congress of the party. Eight of the candidates are contesting for the position of state chairman. This was even as the

APC congress: 83 candidates jostle for positions in Niger …As state govt denies party use of venue Peoples Democratic Party (PDP) led government in the state denied the APC use venue for the congress. Reports yesterday said those contesting for the chairmanship of the party, according to the list of cleared candidates, include former commissioners in the state, Idris Abubakar

Azozo; Engineer Mohammed Inuwa Zakari; Hon. Solomon Yaze; Adamu Saidu Erana; Idris Mohammed; Abubakar Idris Kantaba; Engineer Mohammed Jibrin Imam and Abdulkadir Shehu Nafutua. It was also learnt that four other candidates that are slogging it out for the position

of state secretary were cleared by the state congress committee and they include Mohammed Ahmed Ketso, Barrister Mohammed Lima, Umaru Ndana and Yusuf Suleiman. New Telegraph reliably gathered that the congress earlier scheduled for Saturday was shifted to Sunday because the

party was denied the use of the trade fair complex and the Bako Kontagora Stadium earlier booked by the party. Chairman of the Niger State Congress Committee, Usman Dahaltu Batagarawa, from Katsina State, told journalists that the committee had applied for use of the Bako Kontagora Stadium and the Trade

Fair Complex, but was told at the last minute that both would not be available. According to him; “The unavailability of the venue earlier booked affected the arrangement put in place as we had to scout for a place that could accommodate 1, 800 delegates from the 25 local governments of the state for the election.

Power: Wakil campaigns against vandalism Muhammad Bashir

Lokoja

inister of State for Power, Hon. Muhammed Wakil, has attributed the delay in the attainment of 10, 000 megawatts of electricity targeted by President Goodluck Jonathan’s administration in the power sector to vandalism. The minister stated this at Ogori Magongo Local Government area in Kogi State during the celebration of the annual Ovie Osese festival, over the weekend. He said his ministry in partnership with the National Orientation Agency (NOA) was embarking on sensitisation campaign in every nook and cranny of the country to awaken Nigerians on the need to protect power and pipeline infrastructure. Wakil said the menace has continued to militate against the effort of the President to deliver on his promise. “We have resolved to go to all the communities to talk to our people

that it is not government alone that will handle the issue of power and vandalisation of pipelines and other infrastructure.” Wakil said the choice of Ogori Magongo as the first place to kick start the campaign was deliberate, to put an end to the issue of communities vandalising transformers and other power installations. He said the sensitisation train would move from community to community, neighbourhood to neighbourhood and from individuals to individuals to ask Nigerians to guard power infrastructure and installations. “That is the reason we chose Ogori Magongo as a pilot community, which is organised to use them as a model to kick start our campaign in collaboration with NOA. “By the end of June, President Goodluck Jonathan wants to achieve 6, 000 megawatts but I don't think we can achieve that when communities allow these infrastructures to be tampered with.”

Orji commends FRCN Ikechukwu Ucheoma Umuahia

bia State governor, Chief Theodore Orji, has commended the Federal Radio Corporation of Nigeria (FRCN) for its robust relationship with the state government. Governor Orji, who stated this when the Director-General of the FRCN, Alhaji Ladan Salihu and his management team paid him a visit at the Government House, Umuahia, over the weekend, said the corporation is doing well in the discharge of its duties. He said members of staff of the FRCN in Abia State are doing well under

the leadership of their General Manager, Mr. Stone Echereobia, adding that his government was ready to partner with the corporation. The governor said his administration has fought criminality doggedly with the assistance of the Federal Government, thanking the director-general for coming to the state to see his numerous legacy projects and promised to give a bus, transformer and a 100 KVA generator to the FRCN. Earlier in his speech, the Director General, Alhaji Salihu said he came to the state on a working visit, commending the governor for his various legacy projects.

L-R: Wife of Oyo State Governor, Mrs. Florence Ajimobi; wife of the Deputy Governor, Mrs. Janet Adeyemo; Mrs. Oluremi Olaogun; the couple, Mr. & Mrs.Folusho Bukola Adeyemo; bride's father, Mr. Lateef Majolagbe; Oyo State Deputy Governor, Otunba Moses Alake Adeyemo and Governor Abiola Ajimobi, at the wedding ceremony of the son of the deputy governor, held at the Masifa Baptist Church, Ogbomosho…on Saturday

5.2m

The total population of Santiago, Chile in 2010. Source: Blatantworld.com

317.6m

Lagos blames boat mishap on abandoned logs on waterways Muritala Ayinla xactly a month after an Ikorodu-bound passengers’ boat belonging to Bell Marine Operators was involved in an accident, leaving at least eight people dead and 12 others injured, the Lagos State government has blamed the incident on abandoned logs on the waterways. It said the logs being pulled from Ondo State via Epe into Ebute Metta sawmill and left on the waterways was responsible for the accident, blaming the loggers for fastening the logs together as they travelled across the waterways. Although, the committee set up by the government to investigate the cause of the accident was yet to submit its findings, the state government said the blocking of the water-

37.4%

The total population of United States The percentage of households with internet (representing 4.6% of the world’s population) access in world in 2012. in 2010. Source: Itu.int Source: Blatantworld.com

ways by the loggers was responsible. But, speaking at a ministerial press briefing of the Ministry of Waterfront Infrastructure Development, the Managing Director of the Lagos State Waterways Authority (LASWA), Yinka Marinho, who made the disclosure, said aside ship wrecks, the abandoned logs on the lagoons also contribute to boat mishaps. He said: “The logs are very huge and they can’t be carried physically, sometimes the logs lose while being pulled and when this happens, it floats along the waterways, whichever way the current carries it, when the boats are coming, it is not very visible to see those logs." On that unfortunate day, the boat hit the log, that size of log could affect any size of boat.”

‘No state of emergency in Taraba' Temitope Ogunbanke

ollowing the call for a state of emergency in Taraba State by Senator Emmanuel Bwacha, representing Taraba South in the National Assembly, over the security situation in the state, the Senior Special Assistant to Acting Governor of the state on Media and Publicity, Aaron Artmas, has described Bwacha’s call as a shortcut to seize power from the acting governor. Speaking to some jour nalists, Artmas said if Senator Bwacha has any incriminating evidence against the acting Governor Garba Umar led government, he should make it public rather than making unverifiable, inflammatory comments aimed at destabilising and sabotaging the lofty efforts of the government. “What does the acting governor stand to gain

from sponsoring war in Taraba State? By the grace of God, he is already the leader of the state and he obviously needs a tranquil and peaceful environment to consolidate. “It is Bwacha who has been calling for violence. Now, his agenda has come out, which is to cause confusion and attract a state of emergency. It is Bwacha’s shortcut to power. “Since he started making this inciting allegation, which is purely political, he is yet to produce any evidence linking the acting governor to any crisis. So far the state government has involved every important stakeholder in the southern part of the state in the effort to restore peace. “He has succeeded in bringing the warring parties together to sign a peace agreement and provide relief to the victims. He visited the area to personally plead for peace."

48 NEWS

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Monday, May 5, 2014

PDP faults INEC over election postponement LITIGATION Last words not coming soon on the incondusive elections in Ondo Babatope Okeowo Akure

he Peoples Democratic Party (PDP) in Ondo State, yesterday, tackled the Independent National Electoral Commission

(INEC) over the indefinite postponement of the Ilaje/Eseodo Federal Constituency supplementary election. The electoral umpire had announced the indefinite postponement of the supplementary election in the Federal Constituency, citing the suit filed by the ruling Labour Party (LP) as an excuse. The LP had instituted the suit at the Federal High Court, praying it to declare the candidate of the party, Mr. Kolade Akinjo, winner of the election, since he was

Kano rally: Team Jonathan blasts APC Yekeen Nurudeen Abuja

ollowing its verbal attacks on President Goodluck Jonathan for participating in a rally in Kano after the first Nyanya bomb blast, a group loyal to the President has called on the major opposition party, All for Progressives Congress (APC) to stop playing politics with the lives of innocent Nigerians. The group, under the auspices of Team Jonathan, has equally tasked the leadership of APC to always look beyond 2015 general elections, noting that Nigeria as a corporate entity, would still exist beyond 2015. Speaking to journalists in Abuja at the weekend, the spokesman of the group, Prince Shield Nwazurahu, noted that progressive minds the world over are always united in thought during difficult periods, stressing that the country is undoubtedly undergoing a difficult time.

"We as a group are appalled by the high level of criticism Mr. President has received from the opposition party over his peace rally in Kano. “We are worried because people's lives are involved in the tragic incidents that took place at Nyanya in almost the same spot. And as a responsive leader, Mr. President cancelled his trip to Oyo State and visited the victims of the blast in the first blast. As progressive people as claimed, we are expecting the APC to rally round Mr. President in this challenging time of our history. “As we stated during our maiden launch, Nigerians should look beyond 2015 general elections because we are concerned about the next generation," he stated. Nwazurahu used the occasion to debunk claims in some section of the media that the President was in Kano to flag off the 2015 campaign, stressing that it was a zonal peace rally organised by the Peoples Democratic Party.

Raji takes over from Jimoh as new Odu'a GMD/CEO Sola Adeyemo

Ibadan

EQUEL to the voluntary retirement of the Group Managing Director/ CEO of Odu’a Investment Company Limited, Dr. Adebayo Jimoh, who has been in the saddle of the conglomerate for nine years, a successor, Mr. Adewale Raji, has been appointed. According to Victor Ayetoro, Corporate Affairs Manager of the conglomerate, Raji, who emerged through a thorough, competitive and transparent selection process carried out by KPMG Advisory Services, "is expected to as-

sume office on June 2, 2014". Raji hails from Ogun State and graduated from the University of Jos in 1985, with a first degree in History, and was in the pioneer MBA class of Lagos State University (LASUMBA) that graduated in 1997 with specialization in Marketing. He is a Fellow of the Institute of Logistic Management (FILM) and has attended a number of Executive Management Training Courses locally at the University of Lagos and internationally at Cranfield and Manchester Universities.

leading the closest challenger and the candidate of the PDP, Chief Adewale Kukute with 1, 300 votes. But the PDP, through its Director of Publicity, Mr Ayo Fadaka, faulted the INEC over the postponement, saying its action does not have the backing of the law. Fadaka said the suit was filed by the ruling LP because it knew it would lose the election. According to him, the action of INEC represents a betrayal of trust and fairness expected of an unbiased umpire that

624.9

ordinarily must maintain neutrality. The opposition PDP said the INEC has merely succumbed to the demand and dictate of LP, by declaring this unjustified intention to assist the Labour Party in its quest to frustrate the emergence of a representative for that constituency. His words: "We make this assertions in view of the fact that INEC in other places, had conducted election not withstanding litigations against such elections and to buttress this claim, we refer to Agbaso vs INEC, PDP and

The number of journalists per 1m in Croatia in 2005. Source: Blatantworld.com

Ohakim vs INEC. "It is pertinent to underscore the fact in the cited instances, INEC relied on the provisions of Section 87, subsection 10, which empowers it not to subject already declared elections to any litigation whatsoever, thereby empowering it to disregard frivolous litigations that may be prosecuted to disturb delay or frustrate INEC in the execution of its responsibility. "We condemn outrightly the decision of the INEC Resident Elec-

1.96m

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

toral Commissioner and his team to subvert the law to satisfy their whims and caprices by adopting this faulty position. "Therefore, we urge them to revert to the spirit of the Electoral Act and immediately commence the prosecution of plans to conduct the election forthwith, any other action aside this will leave us with no other impression than that INEC in Ondo State has been compromised, bought and absolutely acquired by Mimiko."

32.88%

The percentage of individuals using the internet in Nigeria in 2012. Source: Itu.int

Ogun State Head of Service, Mrs. Modupe Adekunle (left), addressing Permanent Secretaries in the state Civil Service when she led them on a tour of projects executed and being constructed by the Senator Ibikunle Amosun government in the Ogun East and Ogun Central Senatorial Districts of the state….at the weekend

Insurgency: MSSN wants security overhaul Dan Atori

MINNA

he Muslim Students Society of Nigeria (MSSN) has called on the Federal Government for a total overhaul on the nations security outfit and declare a state of emergency on the security sector. National President of the MSSN, Mallam Abdulazeez Sirajudeen Folayemi, made the call in Minna over the weekend at the occasion of the 60th anniversary lecture of MSSN for the North Central zone with the theme “MSSN impact, problem and prospects.” He called on various authorities to stop politicising the nation's security situation, but rather come up with proactive measures to make Nigeria a

safe place to live. According to him: "The nation's security forces are not on top of the situation, with the double explosions at Nyanya, almost at the same arena, despite the check points all over the place. They (security) have failed us; they have failed in their responsibility to the people of this country. "A state of emergency should be declared on the nation's security outfit as it is evident that the insurgency has continued to beat their arsenal while the innocent masses continue to be the victims. "We say there should be a total overhaul of the nation's security system". Folayemi noted that millions of muslim students in Nigeria and in the Diaspora reject the activities of the insurgents in totality.

Kwara gives job to late journalist's wife Biodun Oyeleye

Ilorin

he Kwara State government has offered employment to Mrs. Bilikis Sanni, the wife of late Alhaji Tunde Sanni, ThisDay Bureau Chief in Ibadan, Oyo State, who died in November, 2013. While handing over the letter of full employment to Mrs. Sanni in Ilorin last Friday, the Senior Special Assistant to the state government on Youth Employment, Alhaji Saka Babatunde, said the move was an expression of the government towards the continued well-being of the family left behind by the deceased. Mrs. Sanni, who holds Nigeria Certificate in Education (NCE) certificate, was posted to the Local

Government Education Authority, Ilorin South. She has since resumed duties as her appointment was with immediate effect. Mrs. Sanni expressed gratitude to Governor AbdulFatah Ahmed and the leader of All Progressives Congress (APC) in the state, Dr. Bukola Saraki, for their interest in the well-being of the family left behind by her husband. Although the late journalist hailed from Ogun State, his wife and children are residing in Ilorin, the Kwara State capital. The late Tunde Sanni had served as correspondent of the defunct Daily Sketch, The Punch, Post Express and ThisDay in Kwara State before he was later moved to Ibadan, Oyo state as ThisDay’s Bureau Chief.

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Monday, May 5, 2014

ELECTION

Ruling party sends strong message of unity inspite of dwindling fortunes

outh Africa's ruling ANC swept aside a weak economy, fierce criticism of its president and questions about the party's future at a massive Soweto rally yesterday, in a preelection show of force. More than 90,000 jubilant and defiant ANC cadres packed the vast Soccer City Stadium to capacity for a final

S. Africa's ANC in huge pre-election show of force "victory" rally ahead of Wednesday's vote, which the ANC is expected to win by a wide margin. The party has won every general election by a landslide since South Africa became a full democracy in 1994. Bikers, DJs and marching bands stired up the yellow-clad crowd to cries of "viva, ANC, viva!", offering no hint of the turbulence

the party has suffered during President Jacob Zuma's nearly five-year stewardship. Corruption scandals, poor public services, a cratering economy and the use of $23 million of taxpayer funds to upgrade Zuma's private home have, for many South Africans, sullied the party's revolutionary zeal. Former stalwarts like

Ronnie Kasrils have gone so far as to publicly ask voters not to back the party that delivered them from Apartheid. But that legacy, for now, still looks set to be enough to hand the ANC another thumping electoral victory. Zuma himself entered the stadium to the sound of a military drumroll and cheers, avoiding a

Supporters sing and dance in the stands of the FNB Stadium in Soweto filled to capacity at the final ANC campaign rally yesterday. AFP photon

Libya's parliament names Egypt militants claim Matiq new Prime Minister responsibility for attacks ibya's parliament swore ment to handle the budn Egyptian militant group was, at first, concentrated Lyesterday, in a new Prime Minister get." A claimed responsibility in the lawless northern Sidespite a Initially, only 113 law- yesterday for twin suicide nai, where a slew of milidisputed vote and walkouts from a largely secular bloc, lawmakers and a Libyan television. Despite the protest from a number of non-Islamist parliamentarians, the interim parliament swore in 42-year-old businessman, Ahmed Matiq, in a televised session headed by the second deputy of parliament, Saleh al-Makhzoum, and member of the Muslim Brotherhood's Justice and Construction Party. "I swear I will carry out my duties honestly and in devotion," Matiq told parliament as several seats appeared empty. "Thank you for your confidence."AlMakhzoum asked Matiq to form the new government within two weeks or sooner. "The country can't bear any more delays," al-Makhzoum said. "We need a govern-

makers voted for Matiq, falling short of the 120 votes necessary to secure his win. After the session was adjourned, Libyan TV station Al-Ahrar reported that voting resumed and Matiq secured eight new votes. Lawmaker Mohammed Samoud confirmed Matiq, from Misrata, won. Lawmaker Fatma al-Majbari told Al-Ahrar the new votes came after the session was adjourned and after absent lawmakers were asked to vote after the session was terminated. She and another lawmaker who refused to be named said they will contest the decision. "There are violations in today's session," al-Majbari told the TV station. Omar al-Hassi, a political science professor from the country's secondlargest city of Benghazi, ran against Matiq. "

bombings that targeted a military checkpoint and a tourist bus, killing at least one soldier and wounding nine in the southern Sinai Peninsula two days earlier. In a statement posted on militant websites, the al-Qaida inspired group, Champions of Jerusalem, warned the Egyptian army: "We will not rest until we achieve retribution for the blood and honor of the Muslims. The group has been behind the deadliest attacks against military and police installations in Egypt since a spike in violence last summer following the military overthrow of Islamist President Mohammed Morsi. Another new group, known as Egypt's Soldiers, has claimed responsibility for several smaller bombings targeting individual police officers. The violent campaign

tant groups have found refuge since the Egypt's 2011 uprising. But the attacks moved closer to the capital as security forces intensified a security crackdown on supporters of the ousted president, leaving hundreds killed and thousands behind bars. Security officials fear the attacks on troops would intensify ahead of the presidential elections, scheduled for later this month, where Abdel-Fattah el-Sissi, the former military chief who oversaw Morsi's ouster, is the front-runner. Friday witnessed a series of attacks in Cairo and southern Sinai, a tourist destination that has seen so far four suicide bombings since Morsi's ouster, including one in February that killed three South Korean tourists on the bus they were riding.

repeat of the humiliating boos he suffered in the same stadium during Nelson Mandela's memorial service in December.But this was a day for party not president. "Twenty years has not been enough to achieve all we want," said 50-year old party activist Nomonde Klaas. "We hope to rule for 100 years, to fully bring freedom." The ANC is expected to garner 63 percent of the vote, according to the latest Ipsos poll, just three points less than in 2009. The stillweak opposition and low predicted turn out are likely to play to the ANC's unparallelled ground operations and help mask otherwise disappointing results for the party. It is expected to see its share of the vote fall for a second consecutive election. Meanwhile the opposition Democratic Alliance, which has painted today's ANC as unfit to bear the name, is predicting increase in its share of the vote by nearly six percentage points to 22 percent. It is predicted to do well in Gauteng -- which includes Johannesburg and Pretoria -- and the Northern Cape, in addi-

tion to the Western Cape, which it already runs at provincial level. Seventytwo year old president Zuma is also touted to get a second five-year term, his last under South Africa's constitution. But he risks becoming a lame duck in a party that taps into its revolutionary roots to appear publicly unified, which behind the scenes is facing internal discord. South Africa sees an estimated 30 demonstrations a day against appalling public services, with many citizens furious that 20 years of majority ANC rule have not improved their lot. With the election outcome seen by many as a foregone conclusion, analysts say business rattled by strikes; a weakened rand and unsustainable levels of unemployment will hope that the ANC's margin of victory is reduced. "A lower-than-expected majority for the ANC would probably be regarded positively by markets, as it may jolt the party into reforming itself internally over the coming years," said Shilan Shah, an economist with Capital Economics.

Terrorists hit Nairobi bus

n explosion ripped through a passenger bus in the Kenyan capital Nairobi yesterday, causing casualties, police and Kenyan Red Cross officials said. The blast occurred in the Thika Road area, close to the city centre, and it was quickly sealed off, witnesses said. Two buses driving along a busy highway in the Kenyan capital Nairobi were struck by

explosive devices thrown at them, Kenyan media and police said yesterday. There was no word on casualties and no immediate claim of re s p o n s i b i l i t y, bu t Kenya has blamed similar attacks on the al Qaeda-linked Somali g roup al Shabaab, which killed at least 67 people at the Westgate shopping mall in Nairobi last September.

37 militants killed in Yemen military Y37 emen's says it has killed suspected al-Qaida fighters in an ongoing offensive in a southern province. A Defense Ministry statement, yesterday said the fighters were killed over night in clashes and airstrikes in the town of Meyfaa during an ongoing U.Sbacked campaign to drive al-Qaida out of the southern provinces of Abyan and Shabwa. Intermittent violence persists in the area and soldiers remain de-

ployed there. Some families fled the town for the provincial capital. Also in Shabwa, security officials said the ar my exploded land mines in several areas around Meyfaa that they said al-Qaida fighters had laid. The security officials spoke on condition of anonymity because they were not authorized to speak to journalists. T he U.S. considers Yemen's al-Qaida branch to be the world's most dangerous.

50 WORLD | NEWS

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Monday, May 5, 2014

13 die as passenger train derails in India

passenger train derailed in western India yesterday, killing at least 13 people and injuring more than 100, an official said. The engine and four coaches jumped the tracks near Roha station, 110 kilometers (70 miles) south of Mumbai,

said police officer Ankush Shinde. The rescuers used gas cutters to open the derailed coaches to reach those trapped inside. Big cranes were deployed to remove these coaches from the rail track, Shinde said. Two of the derailed coaches tilted on one side

and one overturned, said railway spokesman Anil Kumar Saxena. The rescue operation was continuing and the death toll was expected to rise, Shinde said. Saxena said that 123 injured passengers, some of them in serious condition, were taken to a hospital. The cause of the

derailment was not immediately known. Rail authorities ordered an investigation into the accident, Saxena said. Train movement in the area was suspended as the derailed coaches and the rescue operation blocked an adjacent track

South Korean divers struggle to open blocked ferry cabins

People gather around a passenger train that derailed near Roha station,110 kilometers (70miles) south of Mumbai,Maharashtra state, India.

PHOTO: AP

outh Korean dive teams struggled yesterday to gain access to blocked cabins of a submerged ferry that sank nearly three weeks ago, as the confirmed death toll from the disaster rose to 242. Six more bodies were recovered early yesterday, 18 days after the 6,825-tonne Sewol capsized and sank with 476 people on board -- most of them schoolchildren -- while 60 remain unaccounted for. “Rescuers using some equipment are trying to open blocked cabins,” spokesman Ko Myeong-Suk told a morning briefing. The search has been hampered by fast currents and high waves, while

Syrian court accepts Assad’s presidential nomination

Syrian court, yesterday said it had accepted requests from President Bashar al-Assad and two other candidates to be nominated to run in a presidential election next month. Assad’s challengers are unlikely to pose a serious threat to the president in the June 3 vote, which his international opponents and the rebels fighting to overthrow him have dismissed as a farce. Syria’s opposition leaders in exile are barred from standing by a constitutional clause

requiring candidates to have lived in the country continuously for 10 years. The constitution also says candidates must have the backing of 35 members of the proAssad parliament, effectively ruling out dissenting voices from the campaign. The Supreme Constitutional Court had accepted nomination requests from Assad as well as Hassan Abdallah al-Nouri and lawmaker Maher Abdel-Hafiz Hajjar, court spokesman Majid Khadra said in statements broadcast on state television.

He said those whose requests had been rejected had a right to appeal to the court from today, May 5 until May 7. Authorities have not said how they will hold the vote in a country where six million people have been displaced and large swathes of territory remain outside government control. Another 2.5 million refugees have fled Syria, many smuggling themselves across the frontier to avoid Assad’s security forces. Election commission head Hisham al-Shaar was quoted by Syria’s Al-Watan

newspaper on Monday as saying Syrians who had left the country illegally would not be eligible to vote. Syria’s conflict started over three years ago as a peaceful protest movement calling for reforms, but descended into civil war after a government crackdown. The government has lost swathes of territory to rebels, especially in the country’s north and east, although it has maintained control over much of Syria’s centre and Mediterranean coast.

Philippine rebels seize gold prospectors

ommunist rebels waging one of Asia’s longest running insurgencies seized dozens of prospectors in a remote Philippine gold rush site and used them as “human shields” against pursuing troops, a military official said yesterday. About 80 members of the New People’s Army (NPA) “prevented” 39 miners, including four children, from leaving the mining site in Compostela Valley on Saturday to stop troops from advancing and capturing them, regional army chief Lieutenant Colo-

nel Michael Logico told AFP. Local officials persuaded the rebels to free most of the miners; although it is believed around a dozen are still being held at the site. “It’s a desperatemove,”Logicosaid.“They are using them as human shields. They know without the civilians, they are vulnerable to an assault.” Logico said the military launched the assault in two fronts last week to flush out the rebels amid reports that they were harassing villages. “We had been conducting platoon-sized combat operations that forced them to flee,” he said, adding that all in all,

two battalions, or about 800 men, were involved in the operation. The mountainous area in the southern Philippines where the offensives took place is a mineral-rich sitethathas,overtheyears,attracted thousandsof prospectorswhooperate illegal gold mines. Entire villages have been set up around such mines, which have also become a lucrative source of extorting money from the rebels, officials have said. The Philippines hassteppedupitsoperationsagainst the NPA in recent months, capturing three of its senior leaders since March in what has been described

as well. Railway accidents are common in India, which has one of the world’s largest train networks and serves 20 million passengers a day. Most accidents are blamed on poor maintenance and human error.

by the military as a deadly blow to the movement. The NPA is the armed wing of the Communist Party of the Philippines, whose Maoist rebellion has claimed tens of thousands since 1969. President Benigno Aquino had hoped to reach a peace deal with the rebels before his six-year term endsin2016,butplannedpeacetalks have been hampered by demands by the rebels to free detained comrades. With the fresh arrests and continuingoffensives,theprospects of reopening talks have further dimmed, officials said.

dive teams have been working in challenging and sometimes hazardous conditions. They have to grope their way down guiding ropes to the sunken ship, struggling through narrow passageways and rooms littered with floating debris in silty water. As days go by, personal belongings and other items from the ship have been spotted further and further away, fuelling concerns that some victims of the ferry disaster may never be found. One body was retrieved Friday by a fishing vessel four kilometres (two miles) away from the recovery site, and another was found two kilometres away on Wednesday. As a precaution, recovery workers have put rings of netting around the site. Bedding materials from the ship were found as far as 30 kilometres from the disaster site on Friday. It is one of South Korea’s worst peacetime disasters, made all the more shocking by the loss of so many young lives. Of those on board, 325 were students from the same high school in Ansan city, just south of Seoul. Public anger has focused on the captain and crew members who abandoned the ship while hundreds were trapped inside and on the authorities as more evidence emerges of lax safety standards and possible corruption among state regulators. The captain and 14 of his crew have been arrested. The Sewol’s regular captain, who was off duty on the day of the accident, has told prosecutors that the ferry operator, Chonghaejin Marine Co “brushed aside” repeated warnings that the 20-year-old ship had stability issues following a renovation in 2012. Two Chonghaejin officials were arrested on Friday on charges of having the ferry overloaded well beyond its legal limit.

Chelsea title hopes end with Norwich draw

Iran, Bosnia no threat to Eagles -Westerhof

May weather beats Maidana

}p-52

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newtelegraphonline.com/sports

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

Did you know? That during a match played in Paraguay between Sportivo Ameliano and General Caballero, a total of 20 red cards were shown

Monday, MAY 5, 2014

AUTHORITATIVE VOICE IN GLOBAL SPORT

Onazi exposes Bosnia’s danger…says man Lulic, not Dzeko, is major threat

Nsofor

Onazi Lulic

Okpekpe Race lived up to expectation - Alli Charles Ogundiya

… As Ethiopia dominates top three positions

with the event adjudged to be better than last year’s edition. Speaking during the medal presentation, the race administrator, Yusuf Ali, said the

espite some hitches, the second edition of the Okpekpe 10 kilometre Road Race lived up to its billing

race was not only better organised than last year’s, the return times were also better. According to Alli; “The return times of the top five

runners this year are better than last year’s top five; the top three this year also beat last year winner’s record. So I can say it is an improvement CONTINUED ON PAGE 54

52 SPORT | EURO FOOTBALL

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Monday, May 5, 2014

Arsenal pip West Brom

Eagles stars on rampage in Europe lOsaze, Ameobi, Matins hit targets Ajibade Olusesan

lAs Chelsea title hopes end with Norwich draw

livier Giroud scored the only goal as Arsenal beat West Bromwich Albion in their last home game of the season at the Emirates , The best chance in the opening 10 minutes fell to visitors West Brom when Saido Berahino broke the offside trap but couldn’t get off a shot from a tight angle. Arsenal broke the deadlock in the 14th minute when Santi Cazorla, moments after his goalbound

shot was deflected over, swung over a corner from the left that Giroud headed low into the corner for his 16th Premier League goal of the season. Cazorla would go close to an Arsenal second in the 34th minute when his shot from Lukas Podolski’s cutback was tipped around the post by Ben Foster. Meanwhile, Chelsea’s Premier League title hopes were dealt a severe blow as Jose Mourinho’s side were held 0-0 by relegation battlers Norwich

My future will be decided after Cup final - Guardiola

Arsenal vs West Brom

City at Stamford Bridge. The best chances fell to a dominant Chelsea, with John Terry going close with a header and Andre Schurrle hitting the post in the first half. Chelsea also hit the woodwork after the break with David Luiz

the man denied. Victory would have moved Chelsea to the top of the table, but the draw means Jose Mourinho’s side are a point behind leaders Manchester City and secondplaced Liverpool, having played a game more than the top two.

Liverpool prepare for Palace

uper Eagles striker, Osaze Odemwingie, underlined his readiness for the World Cup with another goal for his Premier League club, Stoke City as he tops the list of Nigerians who were on song for their teams abroad over the weekend. Odemwingie scored in the 39th minute, his seventh Premier League goal of the season, as the Potters defeated Fulham 4-0 on Saturday. Shola Ameobi helped Newcastle United to end their poor run of six consecutive defeats by scoring in their 3 - 0 win over bottom side, Cardiff City, on Saturday. Ameobi scored his second goal of the seaon in the 18th minute of the encounter. In Spain, Ramon Azeez scored his second goal of the season when his club, Almeria beat Nosa Igiebor’s Real Betis on Sunday. The former Golden Eaglets and Flying Eagles skipper scored in the concluding minutes after coming on as a 74th minute substitute for Corona. Out-of-favour Eagles star, Obafemi Martins, continued his scoring spree in the United States when he recorded his name on the scorers’ sheet in Seattle Sounders 2-1 victory over Philadelphia on Sunday. Imoh Ezekiel came off the bench to score in Standard Liege 4-1 win over SC Zulte Waregem in Belgium on Friday.

mountain to climb once more we haven’t played well as Everton failed to do them a farecently, especially in vor by dropping all three points the first half against to Manchester City at Goodison Real Madrid at the Park Saturday. Allianz,”Guardiola said. The Reds now have to win For the time being both of their remaining matchthe Catalan coach is foes and overturn what is at the uventus won a third consecutive Secused on the cup final moment a nine goal differential, rie A title without playing on Sunday against Dortmund: “It’s but could grow to be much more. when AS Roma, the only team who normal, I know that if Brendan Rodgers puts his could catch them, capitulated to a 4-1 Suarez side through their paces over defeat at lowly Catania. I don’t win, I’m in danger. That’s always the iverpool have their work cut the weekend as they prepared Roma, who had bravely kept their case for coaches, all the out as they head to London’s for yet another must win match challenge going by winning their last more so at the big clubs. Selhurst Park on Monday if they want to have the title nine games, inexplicably produced one After the cup final I’ll night. The Reds now have a race come down to the final day. of their worst performances of the season against the Sicilian strugglers. sit down with [Bayern Mariano Izco stunned Roma by scordirector of football Matthias] Sammer and ing twice in a six-minute spell in the [CEO Karl-Heinz] Rumfirst half and, although Francesco Totti pulled one back, it was only a lull in the menigge, we’ll put our ideas on the table and arcelona midfielder Sergio after being held to a 2-2 home draw storm. Busquets wants his side to by struggling Getafe on Saturday. come to a decision - one Gonzalo Bergessio extended Catania’s learn from the disappoint“The league is all but over for lead in the 56th minute and Pablo Barrithat is the best for them Guardiola and the club,”he said. ments of this season to ensure us. We have to learn for the com- entos fired a fourth to leave Roma’s title ing years. We have two games left hopes in tatters. there is no repeat in the future. Ronaldo, best I ever played with - Zidane The defeat left Roma eight points beBarca look set to end the cam- and we have to try to finish as inedine Zidane says for- los and current Real striker paign without any major silver- strong as possible because we play hind Juventus, who host Atalanta on mer Brazil star Ronal- Karim Benzema in show- ware for the first time in six years for the best club in the world.” Monday with only two games left to play. do is the best player he ering Ronaldo with praise ever played with. as they looked back on his Results The Real Madrid’s assis- glorious career. Bundesliga tant coach played alongside “The best striker, the Spanish La Liga English Premier League Glo Premier League the former Inter, Barcelona best player I’ve ever played West Ham 2 - 0 Tottenham Barcelona 2 - 2 Getafe Dortmund 3 - 2 Hoffenheim Crystal Palace 0 - 2 Man City and Blancos striker dur- with,” Zidane said. Malaga 0 - 1 Elche Aston Villa 3 - 1 Hull City M’gladbach 3 - 1 Mainz Sunderland 4 - 0 Cardiff City Benzema added: “He is ing his playing days at the Osasuna 0 2 Celta Vigo Braunschweig 0 - 1 Augsburg Liverpool 0 - 2 Chelsea Santiago Bernabeu, with the best striker of all-time. Man United 0 - 1 Sunderland Valladolid 1 - 0 Es panyol the pair part of the same He knows everything, drib- Newcastle 3 - 0 Cardiff City Frankfurt 0 - 2 Leverkusen Southampton 2 - 0 Everton Madrid side that won the bling, scoring… you have Stoke City 4 - 1 Fulham Almeria 3 - 2 Real Betis Freiburg 0 - 2 Schalke Fulham 2 - 2 Hull City La Liga title back in 2003. to be inspired by such playLevante 1 - 0 Atletico Hamburg 1 - 4 Bayern Swansea 0 - 1 Southampton Stoke City 0 - 1 Tottenham In a programme broad- ers. Vallecano 0 - 3 Bilbao Nurnberg 0 - 2 Hannover Swansea 4 - 1 Aston Villa cast on French television He made me dream Everton 2 - 3 Man City Stuttgart 1 - 2 Wolfsburg West Brom 1 - 0 West Ham station Telefoot, Zidane and will always make me Arsenal 1 - 0 West Brom was joined by Roberto Car- dream.” Bremen 2 - 0 Hertha Man Utd 4 - 0 Norwich

ep Guardiola talked about his future again following the win over Hamburg: “I know the score. I know that this is a club where only winning will do, just like my previous club. I can handle that. We’ve won three trophies and we’re in the Cup final, but it’s true

Juventus claim Serie A title

Barca must learn from poor season -Busquets

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Sanctity of Truth

Monday, May 5, 2014

Mayweather beats Maidana

Nigeria, Scotland friendly tickets go for £25, £10

lUnifies welterweight belts

Emmanuel Tobi

loyd Mayweather won a 12-round majority decision over Marcos Maidana early Sunday mor ning to run his perfect record to 46-0 in a welterweight world title unification bout. The 37-year-old American Mayweather retained his World Boxing Council world title and took Maidana’s World Boxing Association belt, winning the fight on two of the three judges’ scorecards with the third scoring it a draw. Mayweather, who was an 11-1 favourite heading into the fight, received scores of 117-111 and 116112. The third judge scored it 114114. He did not get the decisive victory that so many had predicted as the more aggressive Maidana gave him all he could handle. A r g e n t i n a ’s h a rd - p u n ch i n g Maidana, who was making the first defence of his title, suffered

Floyd Mayweather (right) connecting on a right punch to the face of Marcos Maidana during their welterweight unification title fight in Las Vegas on Sunday.

the fourth loss of his career to go with 35 victories. Earlier in the Las Vegas evening, Amir Khan showed no sign of ring rustiness as he made a convincing debut in the welterweight division with a unanimous decision victory

Iran,Bosnia no threat to Eagles -Westerhof

Westerhof

Emmanuel Tobi

ormer Nigeria coach Clemens Westerhof has maintained that both Iran and Bosnia are no threat to Super Eagles’ ambition of qualifying for the second round of the 2014 FIFA World Cup in Brazil. Westerhof who was on a working visit to Lagos over the weekend, further stressed that the Eagles would have qualified for the next

round before their final group match against favourites Argentina. “I strongly believe Nigeria will qualify for the round of 16 before their match against Argentina,” Westerhof said. “For me, Iran and Bosnia are no worries for the Super Eagles. We will always beat them.” Westerhof also disclosed that he has kept in regular contact with Keshi, who was his captain for many years. “I’m in constant touch with Keshi and I always offer him my advice. I tell him to look out for players who are ready to fight on the pitch for the nation.” Westerhof qualified and led Nigeria to her first ever World Cup finals in 1994.

…Bosnia coach to name World Cup squad today Ifeanyi Ibeh

eanwhile, Coach of the national team of BosniaHerzegovina, Safet Susic, is set to announce his squad list for the 2014 World Cup in Brazil today, Monday, May 5. The Bosnians are in Group F along with Argentina, Iran and Nigeria and former Paris SaintGermain of France star, Susic, has revealed he will be making public the names of the players who, barring any injuries, will be on the plane to Brazil in June. He also disclosed that the players will be in the Bosnian capital, Sarajevo, on May 15 for a training camp as the Eastern European

nation gets set to make its debut World Cup appearance. “On the list will be the players who will be invited to train and prepare for the World Cup. There will be 23, maybe 24 players, given that (Freiburg of Germany player) Mensur Mujdza has not yet recovered,” said Susic in an interview with Bosnia-based agency FENA (www.fena.ba). Susic wasn’t specific on who will be included in the list but did state that Bosnia’s “best players will be on the list”, which means players like Edin Dzeko (Manchester City), Miralem Pjanic (Roma), Asmir Begovic (Stoke City) and Vedad Ibisevic (Stuttgart) will be on the list.

over the durable Luis Collazo. Khan, who last fought in April 2013, was looking to make a statement in the 147lb ranks as he attempts to lure pound-for-pound king Floyd Mayweather into a bout in the future.

atch tickets for the May 28th international friendly between Nigeria and Scotland is currently on sale as organisers have pegged the prices for adult and juniors at £25 (N6800) and £10 (N2720) respectively as the lowest range. The match billed for Craven Cottage, the home of Fulham FC, is expected to have a host of premiership stars on parade including Chelsea’s John Obi Mikel, Liverpool’s Victor Moses and Manchester United’s Darren Fletcher. Perhaps most exciting of all is Watford’s Ikechi Anya who will don a Scotland shirt against his father’s home nation. Tickets for the friendly are available from www.fulhamfc.com/tickets or via 0843 208 1234. Scotland will arrive London looking to extend their six match unbeaten run, whilst the Super Eagles are hungry to start their World Cup preparations with a victory. The two teams last met in Aberdeen in 2002 when Nigeria triumphed 2-1, a result Scotland are looking to reverse in front of an anticipated capacity crowd.

2014 DStv All-Star Game: Savannah Conference out dunks Atlantic 66-45

he 2014 edition of the All-Star Game of the ing the Pillars the only side to remain unbeaten in 2013/ 2014 season of the DStv Premier Bas- nine DStv regular season game, was adjudged the ketball League was held at the weekend 2014 All-Star Game Most Valuable Player (MVP) at the Sports Hall of the University of Lagos thus reclaiming the title he lost to Atlantic ConferSports Complex, Akoka, Yaba, Lagos with the ence and Dodan Warriors basketball club captain Savannah Conference triumphing over their Azuoma Dike. Atlantic Conference counterpart 66-45 points. The highly advertised game which saw the twenty-four players carefully selected from the two conferences of the league, was watched by capacity crowd who yearned for more basketball action as the Stanley Gumut captained Savannah Conference dominated their Atlantic counterpart in a pay-back situation after losing narrowly to the Atlantic side by 104-103 in 2013. Though Savannah conference fell short on the board with 24-26 rebounds they gained the upper hand in other areas of the game with 16-10 assist, seven to five steals and a lesser turn-over of nine to twelve. The Savannah Conference also won in all four L-R: Stanley Gumut Savannah Conference captain receiving quarters by 18-12, 18-08, 15-13 and 15-12 points re- trophy from Tijjani Umar, NBBF President and Chioma Afe, spectively. Marketing Manager, DStv, MultiChoice Nigeria during the Usman who has had a splendid performance 2014 DStv Basketball All Star held at Unilag Indoor Sport with Kano Pillars basketball club this season mak- Hall on Saturday 3rd of May, 2014.

Nigeria finishes 7th at World T/Tennis Championship Ifeanyi Ibeh

igerias team to the2014 World Team Table Tennis Championship finished in seventh position after suffering a narrow loss to England in the quarterfinal stage of the competition over the weekend. England dominate Nigeria in most of their meeting, but with what transpired in Tokyo over the weekend, Nigeria is returning to its fine form with the excellent performance in Japan by the quartet of Toriola, Aruna Quadri, Ojo Onaolapo and Kazeem Makanjuola. Having come through from the group to beat Turkey in the knockout stage, the team started the match against England on a good note when Quadri, who finished 16 at the 2014 Spanish Open

beat the Paul Drinkhall 12-10, 6-11, 11-9, 11-6 to give Nigeria a 1-0 lead. Drinkhall won the Spanish Open few weeks ago in the city of Almeria in Spain, but he was no match for Quadri. However, England captain, Drinkhall admitted that, “We’re really happy to have come through, we had a difficult start to the match with me losing the first match. I think if I had won that, we might have won 3-0; this was the first real test for our team and I am happy we made it through. I think we can take this match as positive,” Drinkhall admitted. Meanwhile, the Nigerian female team also gave a good account of themselves in the classification match to avoid relegation with win over Peru, Turkey and Israel.

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Onazi exposes Bosnia’s Okpekpe Race lived up to expectation -Alli …says Lulic, not danger man Dzeko, is major threat CONTINUED FROM PAGE 51

on last edition.” Meanwhile, Ethiopian runners dominated the event, unlike last year when it was Kenyans who dominated the medal stable. In the men’s category, Ethiopian Asafan Jiesmone, won in time of 28.36mins, with Amos Liter of Kenya coming second, returning to the finish line in 28.59mins. Another Kenyan, Ihegego, came third in 29.01mins. In the women’s category, it was all Ethiopian affair; Wodi Ayela (32.41mins), Janet Yala (32.52) and Josephine (32.59) came first, second and third re-

spectively. Also, the Governor of Edo State, Adams Oshiomhole, on the day changed the prize money of the women’s category from $15,000 to $25,000, bringing it to par with the men’s prize as he did last year, promising to add the shortfall of $10,000. Nigerian athletes unlike last year failed to mount the rostrum in both categories. The top Nigeria in the men’s category, Ismail Sadjo, from Cross River State, ended the race in 10th position, three places lower than his position last year, while in the women’s category, Deborah Pam, came 10th overall.

Ishola Williams to re-contest Africa Baseball post Charles Ogundiya

Oboabona (right)

Ajibade Olusesan

uper Eagles midfielder, Ogenyi Onazi, has exposed his Lazio teammate, Senad Lulic as the biggest threat ahead of Nigeria World Cup group match against Bosnia Herzegovina. The two teams will meet in a Group F match in Brazil, and the winner might move to the next round. Manchester City striker, Edin Dzeko, has been identified as Nigeria’s biggest threat.

But in an interview with New Telegraph, Onazi said that it could be a mistake to focus more on Dzeko saying that there are many other players in the squad that could punish the Eagles if they are not careful. “I believe that a tree cannot make a forest, I have heard of Dzeko but he is not the only player there that is dangerous. We just have to be on top of our game not just in the Bosnia match, but in all our matches at the World Cup and have hope in God to

help, because I believe with God we can do all things. “Bosnia have very good players just like the Super Eagles. One of them is in my team, Lulic. He is a good player and we must look out for him. He has had a wonderful season and we always joke about the match. I hope Nigeria gets a better result in the game and by the grace of God we will be successful,” he said. The Brazil 2014 World Cup holds between June 12 and July 13 in 12 centres.

Eagles need a team not individual stars –Dike Mercy Jacob

head of the release of his World Cup list, a former Golden Eaglets coach, Alphonsus Dike, has advised Super Eagles coach, Stephen Keshi to go for team players rather than individual stars. Dike who is optimistic that Super Eagles will excel in Brazil ,however insisted that Keshi must avoid picking mediocre and individual players or be ready to be booted out in the group stage . “Keshi needs to be focused and avoid any form

of distractions coming from any angle because World Cup is not a child’s play, it is where stars from all over the World gather to showcase their talents. “He needs to settle down and pick players that he knows would give him results,the players that he has confidence in that will play for him; above all the players must not be mediocre and individual ones who could scuttle his game plan.Keshi needs to go for team players, those that will play for one another with the aim of achieving result”. The former Rangers Inter-

national coach, also charges Super Eagles to learn to do extra work to attain glory. “The Super Eagles need to learn from players like Cristiano Rolnado, the current World Best player, who usually go for extra training aside from the normal training in the club, and that is why he is always shinning like stars in each match. It is wrong for any player who wants to do well in any competition to depend only on the training he receives from the coach. Super Eagles players must ensure they do additional work if they;re to excel in Brazil,” Dike said.

igeria’s Maj Gen Ishola Williams, is set to re-contest as the president of The Africa Baseball and Softball Association, after his name was listed among nominees for the executive board of the association, holding on May 9 in Hammamet, Tunisia. Contesting the post of the ABSA presidency with Williams is Saber Jlajla from Tunisia. Etienne Kouame N’guessan and Slim El Fatnassi both from Tunisia, are contesting the post

of the Vice-President baseball. So far, Fridah Shiroya from Kenya, is the only candidate contesting the post of ABSA VicePresident Softball. Also, Ahlem Ganfaly from Tunisia and Ibrahim N’Diaye from Burkina Faso will via for the post of ABSA secretary General. While Moira Dempsey from South Africa and Hichem Haouri from Tunisia will contest for the post of treasurer. Meanwhile, Hamamet will also host the inaugural World Baseball Softball Confederation Congress from May 10 to May 11.

Sony receives World Cup with Brazil Promo

ONY, the official FIFA partner, has signed an eight-year agreement with FIFA giving it worldwide marketing and promotional tie-ins for events between January 1st 2007 and December 31st 2014, including the flagship FIFA World Cup events in 2010 and 2014. “Through SONY Mobile FIFA 2014 promotion customers will get a free over the ear headset and premium Roxfit case and stand a chance to win a trip to Brazil to be a ‘Fan Photographer’ to watch a match at the FIFA 2014 World Cup when they buy

any of SONY smartphones (Xperia Z1, Xperia Z1 Compact, Xperia C, Xperia M Dual, Xperia E Dual & Xperia E1). “Fans watching from home will be able to enjoy this fabulous event via Sony videos as it unfolds on the pitch with the same speed, power and the same excitement.” Sony revealed in a statement. SONY Mobile stated that customers can also participate in the promotion and get the opportunity for a child to be a FIFA Flag bearer for the Nigeria vs. Argentina match at the FIFA 2014 World Cup.

Ibile Games: Lagos City,Wesley Girls shine in Squash event

thletes of Lagos City Senior College and Wesley Girls High Secondary School were outstanding in the Squash event of the Junior Category of the ongoing Lagos State Sports Festival tagged Ibile Games. Adegoke Temiloluwa of Lagos City Senior College won the gold medal of the boys’ event beating Adegoke Onaopemipo of Morocco High School to silver medal. The duo of Michael John of Herbert

Macauley High School and Ayomide Oladipupo of Lagos City settled for bronze medals in the final decide at the Rowe Park Sports Centre, Yaba weekend. In the girls’ event, Tutu Abudusalam of Wesley College Girls High School won gold medal. Kemi Oyewole of Rumratul Ismaliyah School won silver medal, while the pair of George Kehinde of Herbert Macauley and Idowu Ogunyemi of Lagos City won bronze medal.

46 NEWS

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Monday, May 5, 2014

APGA factions for peace meeting May13 T RESOLUTION

Police set to help resolve the authentic party faction to occupy national secretariat

Leo Sobechi

n a bid to forestall breach of public peace, the Federal Capital Territory, (FCT) Police Command has invited both the current leadership of All Progressives Grand Alliance, (APGA) led by Chief Maxi Okwu and the erstwhile leaders, Chief Victor Umeh and Alhaji Sani Shinkafi, to a meeting on May 13, 2014.

20.6

he meeting is to resolve the issue of who occupies the party’s National Secretariat at Wuse, Abuja. In a statement made available to New Telegraph, yesterday; the Special Assistant to Maxi Okwu on Media, Mr. Victor Chigozie Eneh, disclosed that the FCT police authorities on May 4, 2014 invited the National Secretary of the Party, Dr. Sagir Auwal Maidoya, to respond to the petition to the command by Umeh and Shinkafi. He insisted that contrary to Shinkafi’s allegation, the party leaders and members did not come with any thug nor forced their way to the secretariat since, accord-

The number of fixed (wired)-broadband subscriptions of Europe region in 2008. Source: Itu.int

ing to him, the gate was open when they arrived. Eneh dismissed the allegation as “spurious, frivolous and emptyheaded the allegation by drowning men seeking relevance and public sympathy that the party leadership came to the secretariat with thugs and forcefully gained entrance to the premises.” “One of Umeh’s staff confronted a party member and was called to order immediately; he sat with other members of the party, chatted and ate with them in the spirit of APGA motto: “Be Your Brother’s Keeper”,” he added. The statement noted that in a letter dated January 20, 2014, APGA

94.5%

The percentage of male internet users in Sweden in 2012. Source: Itu.int

leadership demanded the audited account and handover note from Umeh, stressing that the letter was also copied to the Inspector General of Police, Director State Security Service (SSS), Chairman Economic And Financial Crimes Commission (EFCC), Chairman Independent Corrupt Practices Commission (ICPC) and FCT Commissioner of Police. “The Okwu leadership has always followed due process to ensure a smooth and rancor-free change of baton at the National Secretariat of our great party. Since their removal from office, both the Federal High Court and the Court of Appeal had dismissed

$US335.2bn The nominal GDP of Iran (IMF) in 2009. Source: Blatantworld.com

Umeh and Shinkafi’s applications for stay of execution,” the statement said. He lamented that Umeh and Shinkafi want to cling to power in violation of

the High Court and appellate court rulings, but expressed hope that on May 13, 2014 when the current and former leaders meet with the Police,the matter will be amicably resolved.

Bayelsa Govt to boost indigenous businesses

he Bayelsa State Government has said that it will institute policies and programmes that will encourage the growth of indigenous businesses and enhance the rapid turnaround of the state’s economy. The state governor, Seriake Dickson made the declaration when he undertook a tour of some of the exhibition stands at the ongoing International Conference on Small and Medium enterprises at the Banquet Hall of Government House in Yenagoa. In a statement signed by the Chief Press Secretary to the Governor, Daniel Iworiso-Markson, Dickson expressed confidence in the capacity of Bayelsans to participate in the emerging economy of the state, which he noted, had been reinforced by the number of Bayelsa entrepreneurs and the quality of wares displayed at the exhibition. “Today, my faith and confidence in the capacity of our people to participate in our economy has been reinforced. What we have seen is a tip of the iceberg,” he declared.

The state governor asserted that various businesses of international repute definitely will spring forth, because of the Bayelsa spirit. “Businesses of international repute will spring forth because of the Bayelsa ingenuity. Already, the world is getting to know and notice them. Their products are already found in exclusive shops in the world and some have started receiving international acclaim,” the governor remarked. Dickson attributed the rapid growth and successes of businesses in the state to the robust policies and programmes of the government to promote local enterprise. According to him, “I am left with no doubt at all, that Bayelsa will start to lead the way for other states to follow.” Speaking in the same vein, the Commissioner of Trade, Industry and Investment, Kemela Okara, said the state government wanted to grow the private sector, adding that everything possible was being done in that regard.

Community leaders deny initiating juveniles into witchcraft Cephas Iorhemen

L-R: Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alhaji Bature Masari; Bayelsa State Governor, Seriake Makurdi Dickson; Bayelsa State Commissioner for Trade Industry and Investment, Kemera Okara and Acting Managing Director/CEO, Bank Of Industry, Mr. Waheed Olagunju, at the 5-day International Confrence on Small & Medium Enterprises (ICSME 2014) held at the Civic Centre, Yenagoa…at the weekend

Adeolu Adeye Osogbo

sun State Chapter Of the All Progressives Congress (APC) yesterday alerted security agencies and members of the public that the state chapter of the Peoples Democratic Party (PDP) has started recruiting thugs from neighbouring states to unleash terror on the state. The state APC Director Of Publicity and Strategies, Kunle Oyatomi, made the accusation in a statement in Osogbo and called on security agents not to close their eyes on the matter. In a swift reaction, the state chapter of the PDP through its chairman, Alhaji Ganiyu Olaoluwa, described APC as a party of propaganda,

Osun APC alleges plans by PDP to import thugs l APC a pack of liars, says PDP

deceit and blackmail, always feeding people with lies. Olaoluwa charged security agents and members of the public to dismiss the claim. But, the APC insisted that anytime from now, "The State PDP will unleash terror on the cities and towns of the state." Oyatomi said: "Credible information at the disposal of the APC revealed that plans for this terror attack was concluded during a meeting at the residence of a former Oyo State senator in

Ibadan few weeks ago. "Those in attendance at that meeting were said to include the former senator, a notorious road transport kingpin in Ibadan and some Osun PDP chieftains, among others. "The plan is to clothe thugs that will be assembled by the transport kingpin in the uniforms of both Osun Governor's Monitoring Team (GMT) and the traffic section of O'Yes to give the impression that they were statesponsored thugs. These uniforms were said to

have already been sewn by Osun PDP. "The APC is, therefore, alerting the security agencies to watch out for criminals who will be imported from neighbouring states dressed in uniforms of Osun O'Yes and GMT officials, with a mission to create chaos and spill blood." However, PDP fired back describing APC members as a set of politicians with lying tongues and deceptive lips that should not be living in the midst of credible people.

ommunity leaders in Otukpo Local Government Area of Benue State yesterday refuted media publications that juveniles are being hypnotized into witchcraft in the area. The community leaders particularly described as unfounded allegations by a group of people that human flesh was being sold in place of chicken meat by one Ikwubiela, a dealer in fried chicken. Speaking to journalists in Otukpo, Chief John Aduma, the Ejila of Igbanonmaje, a suburb of Otukpo said the kids, who confessed to be witches, were initiated by one Aboh, a porter at the Otukpo timber shed (now at large) to tarnish the image of community. They insisted that those who claimed to have been initiated into witchcraft by Ikwubiela were merely out to tarnish her image.

"From our findings, Ikwubiela is not into anything like that. She has been selling chicken…for many years and no such allegation has been made against her. So, the whole story is false, it's not true," Aduma said. Also commenting on the matter, the Uloja of Ai-Agboko, Chief Obogo Alapa said frantic efforts were being made to track down Aboh whom, he said, was mentally deranged in order to unveil his sponsors, stressing that issues of witchcraft can only be tackled through traditional process. On his part, Chief Aikwucheyi Alama, ward head of Ward 1, appealed to Ikwubiela to bury the hatchet, stressing that "a woman who sells rice at Ogiri Oko Street in the town had been accused of cooking with water used for bathing corpses but she ignored the story and has continued with her business."

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Confab: Igbo group to resist grazing reserves in S/East T REJECTION

No plan to seize property of nonindigenes in Abia, says Abaribe Wale Elegbede

Group describes creation of grazing land for hardsmen as new imperial territorial expansionist agenda Buhari Bello Jos

he Izu-Umunna Cultural Association of Nigeria, a pan- Igbo think-tank, and an affiliate of Ohanaeze Ndigbo, has said that it is against the creation of grazing reserves/routes for Fulani herdsmen in any part of Igboland. The group said that it wass averse to the appropriation of any part of Igbo land for the purpose of creating grazing reserve

5.2m

or grazing routes, saying that the violent quest for grazing reserves by Fulani herdsmen outside their geo-political zones of origin is nothing but a neo-imperial territorial expansionist agenda. The position was contained in a memo to the South East delegates to the national conference, and signed by the President, Prof. Zebulon Okoye and Secretary, Chief Elvis Chukwu and made available to journalists in Jos yesterday. The association "drew attention to the various schemes currently being adopted by protagonists to actualize the grazing reserve project either by default (through acquiescence to forceful occupation of farmlands by armed Fulani herdsmen)

The total population of Santiago, Chile in 2010. Source: Blatantworld.com

or by legislation and advised against caving in to such designs." The group, in particular, rejected the location of any grazing reserve for Fulani herdsmen in Igboland on several grounds, the most notable being the absurd socio-cultural impact and existential catastrophe that would attend the creation of an enclave of a socio-culturally distinct ethnic population, and the fact that Igboland has dire arable land constraint. "Cattle-rearing is not an occupation of Igboland and no group should be imported to inaugurate and entrench it." “Going by the established trend in the history of the founding of Hausa/ Fulani settlements among non-Hausa/Fulani host

317.6m

The total population of United States (representing 4.6% of the world’s population) in 2010. Source: Blatantworld.com

populations in the North, Fulani occupation settlers not only would dislodge the indigenous population of any officially designated grazing reserve but also would, after a period of residence, certainly claim political autonomy. In due cause, they would demand to be governed by Sharia law and for the inclusion of the same in the law of the host state since, as Muslims, they would not want to be subjected to the customary law that operates n the host state.” According to Izu-Umunna, with little land area and very dense population, Igboland cannot afford appropriation of her choice scarce farmlands. Moreover, the association was sure that were the reverse to be the situation, Fulani would not oblige Ndigbo.

37.4%

The percentage of households with internet access in world in 2012. Source: Itu.int

he Chairman, Senate Committee on Information, Media and Public Affairs, Senator Enyinnaya Abaribe has refuted rumours that the emergence of an Ukwa-Ngwa extraction as Abia State Governor in 2015 would lead to the seizure of properties of non-indigenes in Aba. He described the allusion as baseless and naive. Abaribe, a governorship aspirant, made the declaration in Umuahia in continuation of his consultation with the people of Abia Central Senatorial zone over the weekend. While noting that the incumbent governor of the state, Dr. Theodore Orji has effectively laid a solid foundation to set the state on the path of economic growth, he added that it behoves a focused successor to consolidate on his achievements. Addressing the gathering which comprises

APC vows to defeat Sambo in Kaduna Ibraheem Musa

Kaduna

L-R: Olori of Awujale, Oluwakemi; wife of Ogun State Governor, Olufunso; Olori of Awujale, Iyabo; Ogun State Governor, Senator Ibikunle Amosun; Paramount Ruler of Ijebuland, Oba Sikiru Kayode Adetona; and former President, Chief Olusegun Obasanjo, during a Thanksgiving Service to mark Awujale's 80th birthday at The Cathedral Church of Our Saviour, Ijasi, Italowajoda, Ijebu-Ode …yesterday.

Ebonyi community decries rise in crime Leo Sobechi

he Okposi community in Ohaozara Local Government council of Ebonyi State has lamented the sudden rise in dangerous crime, including armed robbery and kidnapping in the community. It also condemned the attitude of some politician, who employ youths as thugs to perpetrate violence and criminal activities in the community. The community also commended the state government on the “timely change of leadership at Okposi Development Centre with the appointment

of Mr. Magnus Eze as Coordinator” A communiqué jointly signed by leaders of thought, religious elite in the four wards of Okposi Ezi-N'asato Clan, including Barrister Eze Anoke, (President General Okposi Community Development Union (OCDU)); Chief Ogbonna Sam Okoro, (former President General Okposi Okwu Development Union (OODU)); Mr. Isaiah Nwite, (1st Vice President Mgbom Na Achara Development Union (MADU)); Reverend Father Lawrence Aja, (Holy Rosary Parish, Okposi); Reverend Dr. Johnson Odii, (Okposi Achara); Honourable Ben-

son Igboke, (Amaeluagu Okposi) and Honourable Ogbonnaya O. Akpoke, (2nd Vice President Mgbom Na Achara Development Union (MADU) expressed the worries of the community. Part of the communiqué read: “We, the leaders of thought of Okposi Ezinasato met and after exhaustive deliberations on recent ugly happenings in the community, noted with serious concern as follows: That, although, crime may never be eradicated completely from any society, the sudden rise of crime in our dear community from a once peaceful and almost crime-free com-

munity to a den of criminals and home to highly militant youths calls for concerted efforts by all well-meaning Okposi indigenes and government at all levels including the security agencies. “And having carefully taken a critical x-ray of all the issues; the meeting hereby resolved as follows: that the two Coordinators of Okposi and Anuagata Development Centres in Okposi Ezin’asato should liaise with the traditional institutions and Development Unions of the three Autonomous Communities to ensure the security of lives and property in Okposi EziN'asato."

of 'who is who' in the Abia political circles including former National Chairman of the Peoples Democratic Party (PDP), Prince Vincent Ogbulafor; former Senator and a commissioner in the Revenue Mobilisation and Fiscal Allocation Commission, Senator Chris Adighije; former state Chairman of PDP, Chief Tony Ukasoanya; wife of former Head of State Mrs Victoria Aguiyi-Ironsi, among others, Abaribe declared that it is morally, spiritually and legally reprehensible to talk of seizing property of any Nigerian wherever the person resides. "It is, therefore, a case of a barefaced wicked propaganda, to insinuate that in Abia, a section will suddenly wake up and declare fellow citizens persona non grata on account of having assumed the office of a governor of the state. It is the height of illiteracy by the authors of such hate propaganda. It will never happen in Abia", he said.

he Kaduna North APC Stakeholders’ Forum has vowed to defeat Vice President Namadi Sambo in his ward and local government, as well as at the state level in 2015 elections. Speaking to newsmen after its meeting yesterday, the forum’s Chairman, Alhaji Kabiru Umar, said that they met to review the inconclusive ward congresses in Kaduna North Local Government. It will be recalled that the recently held ward congresses in Kaduna North was marred by violence, imposition of candidates and cancellation of the elections. According to Kabiru,

the forum discovered that some congress officials behaved in a selfish manner which was unbecoming of them. He said that three ward chairmen had emerged by consensus out of the 12 wards in the local government. Kabiru, however, said there were problems in the rest nine wards and that ‘’is why the forum decided to intervene in order to prevent it from escalating further.’’ The chairman noted that in spite of this challenge, APC will still defeat PDP in the entire elections in Kaduna State. He recalled that the vice president was defeated at his Kabala ward, local government and National Assembly in the 2011 elections.

Group commends NDDC on youth empowerment Tony Anichebe uyo

he Coalition of Niger Tguard Delta Youths Van(CONDYV) has

commended the present Board of the Niger Delta Development Commission (NDDC) for its programmes tailored towards youth empowerment and peace in the region. In a statement made available to newsmen in Uyo over the weekend and signed by Solomon Nse Solomon, President and Mr. Paul Abam, the

group paid special tribute to the Managing Director of the Commission, Mr. Bassey Dan Abia and the Chairman, Senator Bassey Ewa Henshaw, for giving priority to youth matters. “We are comfortable with the present board of the NDDC for hunting after abandoned projects in the region for completion which is in keeping with the directives of the presidency. We are also happy that the Board has prioritized youth development”, the statement said.

World Record

On Marble Sometimes, the most healing thing we can do for another human being, is to listen to them, just ... LISTEN. – Jaeda DeWalt

Sanctity of Truth

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

Three things cannot be long hidden: the sun, the moon and the truth – Buddha MONday, MAY 5, 2014

Zainab Usman

N150

Melissa “Missy” Franklin (USA) swam the 200 m backstroke in a record time of 2 min 4.06 sec to win Olympic gold at the Aquatics Centre in London, UK, on 3 August 2012.

Structural distortions in the economy

ccording to recently reviewed GDP figures, Nigeria is now Africa’s biggest economy. It was about time a more accurate measure of economic output, which captures Nigerians’ entrepreneurial zeal, was adopted. The headline-capturing highlights of the new series reveal the scale of the economy, and greater economic diversification with the rapid growth of non-oil sectors. Significantly, the figures indicate how this growth accounts for the “jobless” economic expansion, the slow pace of industrial development and the regional dimensions of the economic boom. According to the rebased figures, six sectors now account for 70% of nominal GDP rather than three in the old series. The service sector grew fastest, by 240%, and is progressively constituting a larger portion of the GDP. Conversely, the share of the two hitherto giants – agriculture and oil has fallen to 21% and 14.4% respectively. Nigeria is transiting to a services-driven economy due to the rapid growth of information and communications technology (ICT), banking, trade and the informal economy. Zenith Bank, UBA and Guaranty Trust Bank are Nigerian financial institutions with a huge presence across the continent. Mobile phone subscription has exploded from just 2.2 million lines in 2002 to over 169 million by 2013. Call credit vendors, petty traders and other unofficial activities in the informal economy have also been included in the new series, as a component of the services sector. On the surface, the emergence of the service sector as a major growth driver indicates a greater diversification of the country’s production structure away from oil (a long sought after goal). The share of the oil and gas sector has fallen from 32.4% of GDP in the old series to just 14.4% in the new series. On one hand this is good news, on the other hand, it reveals deeper structural distortions. Nigeria appears to be leap-frogging from an extractive to a services-oriented economy without commensurate industrial development, and this comes with some baggage. This slow pace of industrialisation accounts for the non-inclusive nature of growth and widening inequality in the country. The necessity to experience industrialisation as a phase in the economic development process from a poor to a rich society is well documented. The Economist and Foreign Policy magazines both recently hosted debates on the necessity of industrialisation for sub-Saharan African economies. Economist Ha-Joon Chang points out categorically that “…it is a fantasy to

think that developing countries can skip industrialisation and build prosperity on the basis of service industries”. Multilateral organisations such as the United Nations Industrial Development Organisation (UNIDO), the United Nations Economic Commission for Africa (UNECA) and the African Union are advocating for inclusive and sustainable industrial development as the key to structural economic transformation of African economies. This is hinged on the export-oriented-industrialisation (EOI) route taken by South Korea, Singapore and other East Asian Tigers to economic development and prosperity. Industrialisation is regarded as the surest route to poverty reduction and economic transformation. With the labour intensive nature of manufacturing industry, the share of people engaged in subsistence agriculture falls as those engaged in agroprocessing, light and heavy manufacturing and ancillary services rises. Economists argue that industrial development creates employment along a value chain, raises incomes, and improves human development. As Dani Rodrik emphasises, the manufacturing sector is where the world’s middle classes take shape and grow; without a vibrant manufacturing base, societies tend to be more unequal. In Nigeria, as the new GDP series reveals, this industrialisation process is yet to take root. The manufacturing sector, which was 10% of GDP in 1980, constitutes only 6.9% in the revised figures. By contrast, the over 200-fold growth in ICT, trade and financial services means that the service sector now constitutes 52.3% of economic output. Unlike the manufacturing sector, which employs low-skilled, low-wage labour, these services are highly capital and technology intensive. Entry-level staff in banks in the country require a minimum of a tertiary qualification. While the mobile tech start-up revolution sweeping across the commercial capital Lagos, is dominated by tech-savvy entrepreneurs with a highly specialised skill set. Therefore, the mobile revolution hasn’t led to an explosion of job opportunities, as youth unemployment persists at 54%. A stark reminder of the unemployment situation is the recent recruitment exercise of the immigration service, in which 6.5 million Nigerians applied for 4,000 jobs and where 19 people were crushed to death at stampedes at the recruitment centres. At the other end of the scale, the telecoms sector is creating a booming informal economy of call credit vendors, informal call centres and other microenterprises with limited scope for upward mobility. Though the GDP series involve macro-

Dr. Okonjo-Iweala

level aggregate data, some inferences about regional distribution of economic activity can be made. While agricultural output has increased, it has grown much more slowly than the capital, technology and skills intensive services sector. Agriculture’s decline as a share of GDP has more implications in the northern states, where it dominates. Critically, the diminishing share of agriculture as a percentage of GDP, which should indicate economic development in an industrialising economy, is not the case here. Hundreds of textile, food and beverage and other light manufacturing industries lie moribund in industrial hubs in Kaduna and Kano states. Electricity shortages, infrastructural decay and influx of cheap Chinese imports and smuggled consumer goods are some of the factors attributed to the acceleration of de-industrialisation in the North. Tellingly, farmers are not leaving their farmlands in villages to become factory workers in modern industries, but are urbanising in the fringes and becoming an underclass in the vast unofficial activities in the informal sector. Although some states like Kano have a vibrant trade-based economy (and the ‘Kannywood’ local entertainment sector is booming), economic output in the northern states is mostly agrarian. On the other hand, the services sector – banks, telecoms, hospitality, trade – are mostly concentrated in the South. Of the 21 commercial banks in the country, only one is owned by and headquartered in the North. Even in the South, Lagos and to a lesser extent, the four major oil-producing states, account for the bulk of economic output. Lagos, where most banks, financial institutions, telecoms firms, oil companies and other private sector organisations are

headquartered could be Africa’s fifth largest economy, if it were a separate country. As an outlier, it is the only self-sufficient state out of 35 others, able to generate over 50% of its revenues from internal sources more than its monthly allocations from the centre. Conclusions about the regional dimension of economic growth can only be made with certainty when the state-level GDP figures are released by the Nigerian Bureau of Statistics (NBS). Yet we can deduce from the new series as to why Nigeria’s economic boom is not only non-inclusive, but geographically concentrated, in which many northern states lag behind. As expected, these figures are being politicised by both the government – which has adopted a triumphalist attitude and implicitly claims credit – and sceptical Nigerians, who are worried about the ‘jobless growth’ and poor human development situation. Both sides miss the point about the purpose of the rebasing exercise, which is mainly to provide a more accurate picture of the economy. Thankfully, the NBS has dispassionately emphasised that “the rebasing exercise does not in itself reflect the effectiveness or otherwise of public policy”. The onus now lies on policy makers to address these structural economic problems head on, not merely to politicise them. The government has recently launched an industrial policy, an Agricultural Transformation Agenda, and has privatised the power sector. With Nigeria’s staggering size, its booming population and its equally staggering problems, there is certainly scope for doing much more. • Zainab Usman is a DPhil candidate at the University of Oxford.

OmoBaba

PDP ‘LL CHASE APC OUT OF SOUTH-WEST - Kashamu

– With cutlasses, guns or what?

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