Binder1march 18, 2014 by Newtelegraphonline

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Tuesday, March 18, 2014 Vol. 1 No. 28

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Nigeria’s most authoritative newspaper in politics and business

65 die in Oyo, Obiano: I’ll tackle insecurity, outage Yobe auto crashes …assumes office as Anambra gov

lEight Boko Haram members, one soldier killed in Yobe

Pages } 3 & 8

Uwakwe Abugu Awka

The new Governor of

Anambra State, Chief Willy Obiano, took the oath of office yesterday, with a pledge to tackle the

areas would launch the state into a sustainable economic progress. Obiano spoke before a huge crowd that thronged

twin monsters of insecurity and poor electricity supply. The governor told the people at his swearingin that tackling the two

CONTINUED ON PAGE 2

IMMIGRATION TEST TRAGEDY

Jonathan gives minister 24 hours to answer query

lSix bodies still lying at National Hospital morgue lI won’t resign, says embattled minister lMoro must go, Reps insist lSurviving pregnant woman: I’m still interested in the job Philip Nyam, Chukwu David, Yekeen Nurudeen, Anule Emmanuel and Wale Elegbede

resident Goodluck Jonathan yesterday summoned the embattled Minister of Interior, Comrade Abba

Moro, and the Comptroller-General of the Nigerian Immigration Service, Davis Parradang, over the poor handling of Sat-

urday’s recruitment test into the Service in which about 15 people, including pregnant women, died. Dressed in a white Caf-

tan, the minister, who was visibly disturbed in company with the Immigration boss, arrived the Presidential Villa, Abuja, in a

hurry and headed straight for the office of the Chief of Staff to the President, Brigadier-General Jones CONTINUED ON PAGE 2

Confab: I’ve no personal agenda, says President Anule Emmanuel

resident Goodluck Jonathan yesterday inaugurated the National Conference in Abuja with a charge to delegates to approach issues for deliberation during the three-month period without suspicion and antagonism. He also declared that he CONTINUED ON PAGE 4

L-R: (Front row) Speaker, House of Representatives, Aminu Tambuwal; Chief Justice of Nigeria, Mariam Aloma Mukhtar; Vice President Namadi Sambo; President Goodluck Jonathan; Justice Idris Legbo Kutigi; Prof. Bolaji Akinyemi; Dr. Valerie Azinge and others at the opening session of the National Conference in Abuja...yesterday

PHOTO: Timothy Ikuomenisan

AT A GLANCE

INSIDE

POLITICS

BUSINESS

METRO

SPORTS

Cross River 2015: Friends, associates scramble for Imoke’s seat Page 14

Nigeria loses $9bn to oil theft monthly, says FG Page 25

Imo Transport Company workers protest non-payment of salaries Page 45

I’m not scared of Messi, Aguero, Dzeko – Omeruo Page 51

News. . . . . . . . . . . . . . Metro . . . . . . . . . . . . . Politics . . . . . . . . . . . . Opinions. . . . . . . . . . . Business . . . . . . . . . . . Mum & Parenting . . . Features . . . . . . . . . . . Sport. . . . . . . . . . . . . .

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Jonathan gives Moro 24 hours to answer query CONTINUED FROM PAGE 1

Arogbofa, where they spent over an hour before meeting the President. When the trio emerged from the President’s office, Moro and Parradang refused to be interviewed by State House Correspondents. Competent sources in the presidency, however, confirmed to New Telegraph that Jonathan, who is worried by the incident, queried the minister and ordered him to explain within 24 hours what led to the poor handling of the exercise as witnessed across the country. The deaths were as a result of the stampede which occurred at the Abuja National Stadium, venue of the recruitment. Similar incidents of stampede and death of applicants were reported across the country during the recruitment last Saturday. Meanwhile, six of the seven bodies brought to the National Hospital, Abuja from the stampede are still lying at the morgue of the hospital. The National Hospital’s Director of Information Management, Dr. Tayo Haastrup, told New Telegraph yesterday that one of the bodies was claimed by his relatives on Sunday who, according to him, requested for it to be released to them to be buried quickly according to Islamic rites. He explained that the management of the hospital has been waiting for the relatives of the remaining six bodies to come and identify them. His words: “Initially there were 70 of them that

were brought, our medical teams were able to attend to all of them, stabilised them. Some were discharged immediately because they had minor bruises here and there. They were not admitted. “When we stabilised them, some went to Garki Hospital and Maitama Hospital. At the end of it all, we have about 30 of them here in the hospital. They have received medical attention and treatment and we have also discharged a lot of them. “Those left are also stable and okay. They only have bruises here and there while the major ones are those with fractured legs. “The two pregnant women are okay and are even eager to go. They may be discharged soon. They don’t have any major injury, just the exhaustion that happened to them. They brought seven dead

bodies, the injured ones, none of them died. They brought five men and two women dead on Saturday. We are waiting for them to be identified by their relatives, you know family things, police reports and all that. We have released one now. No relative has come to identify them. We hope by tomorrow, they will come and identify them”. One of the pregnant women, who initially was thought to be dead, Folasade Omidiji Olanrewaju, became conscious when she got to the hospital. Folasade, who is six months pregnant and a National Diploma graduate of Business Administration from Federal Polytechnic, Ede, Osun State, said she arrived National Stadium as early as 6:10 am for the exercise. Though she has no injury, the mother of two, who said she was experiencing

body pains, however, said she is still interested in the job. “I went to the stadium as early as 6:10 am because they asked us to come there before 7am. The crowd was too much, they told us to go through the big gate. In fact, I don’t know how I got here. When I opened my eyes, I saw one Mopol that told me that we were four and that I’m the only one that survived. “They collected my husband’s telephone number that I’m at the National Hospital,” she said. For Endurance Ben, who hails from Benue State and also a graduate of Business Administration, her survival is a miracle. She was among those taken to the hospital unconscious but was revived. She told New Telegraph how, with six-month-old pregnancy, she jumped a fence to gain entrance

into the main bowl of the National Stadium. Her words: “ On Saturday, they asked us to come before 7am and I was there before 7am. When we got there, the gates were locked. The soldiers asked us to jump the gutter which was very big. “If you jump inside for you to go out, you have to jump back. So, with their assistance, we jumped the gutter and after then, we climbed on hill, just for us to get to the stadium. When we got there, the doors were locked. “They only opened small entrance and the population was much. Some people that were not patient jumped through the fence. I managed to enter but some people fell inside some big holes inside and died instantly. “With my condition, I had to jump through the fence. I climbed down. When we got there, we

C O N T I N U E D O N PA G E 3

TODAY’S WEATHER FORECAST PORT HARCOURT

the Dr. Alex Ekwueme Square, Awka, the state capital for the swearingin ceremony. “In Nigeria today, finding a permanent solution to the challenges of electricity supply and offering a secure environment for life and property is paramount to any viable economic blueprint to be laid out by any government. “These twin challenges

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Obiano (left) taking oath of office being administered by Chief Judge of Anambra State, Justice Peter Umeadi...yesterday.

Obiano: I’ll tackle insecurity, outage CONTINUED FROM PAGE 1

were waiting for the exams but they didn’t attend to us for more than two hours and that was how I fell down. “It was yesterday that I knew where I am. There were five pregnant women, three died and both of us are the surviving ones” Speaking yesterday on a Radio programme monitored in Lagos, Moro said that he would not resign his appointment over the issue, saying that his background does not permit him to run away from problems. Moro said neither his wife nor the wife of the Senate President was involved in the outsourcing of the ministry’s recruitment exercise, adding that the ministry and the consulting firm engaged for the recruitment were overwhelmed by the circumstances of the exercise. He said: “We laid out conditions and requirements for engagements for the various categories. The interview was both written and physical. Those pregnant women

have proven to be the biggest constraints to the full manifestation of the ingenuity for which Ndi Anambra are known. It has always been clear to me that the realisation of my dreams for Anambra State depends on how well we tackle these challenges,” Obiano declared. On the development of the state capital, Obiano explained that the people’s “clamour for a Capi-

tal City that fully reflects the essence of our people will be addressed by my administration. “We shall re-design and remodel Awka to meet the structural and aesthetic requirements of a 21st Century city we all will be proud of,” he also assured. President Goodluck Jonathan, who was represented by his adviser, Senator Ben Obi, said plans had been conclud-

ed to name Obi a member of the Federal Executive Council. A hint to that effect had been given sometime ago by the Finance Minister, Dr. Ngozi Okonjo-Iweala as correct. The outgoing governor, Peter Obi urged Obiano not to allow anybody dictate to him under any guise, stating that as someone handing over to him, he entered into no agreement with him but

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that he should discharge his duties well to the people of the state. Governor Theodore Orji of Abia State, Ambassador Bianca Ojukwu, widow of the late All progressives Grand Alliance (APGA) leader, Dim Emeka Odumegwu Ojukwu; Senator Margery Okadigbo and scores of other political and opinion leaders of the state and beyond graced the event.

IBADAN

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NEWS

Sanctity of Truth

Tuesday, March 18, 2014

TRAGEDY

As soldiers kill members of Boko Haram in Yobe, 10 passengers die in Ibadan auto crash Lateef Ibrahim and Sola Adeyemo Ibadan

ight fundamentalists and a soldier have been killed when troops ambushed the Boko Haram members on a mission to attack Goniri community in Gujiba Local Government Area of Yobe State. Goniri is not far from

Eight Boko Haram members, one soldier killed in Yobe Buni Yadi where the terrorists killed pupils recently. The Director of Defence Information, Major-General Chris Olukolade, who confirmed this yesterday in Abuja, said several other members of the insurgent group were wounded in the process. Olukolade further disclosed that troops operating around Gamboru, Ngala and Dikwa Local

Government Area towards the borders of Chad and Cameroun were busy, throughout the weekend, recovering weapons hidden by terrorists who were dislodged from the area. The statement by the Director of Defence Information reads: “The move by a group of terrorists on a mission to penetrate and attack Goniri Community in Gujba Local Government Area of Yobe State

has failed as they were ambushed by troops on patrol who were already alerted of the terrorists’ intention. “Troops are still in pursuit of the fleeing terrorists’ elements after the encounter which resulted in some casualties on both parties. “Rockets and machine guns were freely used by the terrorists who eventually lost over eight of their fighters with several oth-

Ondo State Governor, Dr Olusegun Mimiko (middle) cutting the tape to inaugurate the Igbokoda Caring Heart Mega Primary School in Ilaje Local Government Area at the weekend. With him are the Amapetu of Mahin Kingdom, Oba Lawrence Omowole (third left), Commissioner for Education, Jide Adejuyigbe (left), Olu of Igbokoda, Oba Afolabi Odidiomo (right) and others.

The number of countries out of 99 with ongoing malaria transmission are classified by WHO as being in malaria elimination phase Source: Who.int

573,133

443m

The total population of Micronesia in Oceania

The total number of school days lost

(the world’s least populous regions)

yearly due to water-related illness

Source: Blatantworld.com

Source: Globalissues.org

ers wounded. Arms were also captured from the terrorists while others fled. The troops, however, lost a soldier while an officer was seriously wounded in the encounter. “Goniri is not far from Buni Yadi where the terrorists killed school children recently. “Meanwhile troops operating around Gamboru, Ngala and Dikwa Local Government Area towards the borders of Chad and Cameroon, were, throughout the weekend, busy recovering weapons hidden by terrorists who were dislodged from the area. “Assisted by captured terrorists, the troops were led to the sites where arms have been hidden in farms and cemeteries. The cordon and search of the entire area is still in progress,” it said. Meanwhile, 10 people were yesterday burnt to death in an auto accident which occurred along Lagos-Ibadan Expressway Road. The Federal Road Safety Corps (FRSC) Oluyole Unit Commander, Sanya Adeoye, who confirmed the incident, said four people survived while the passengers were burnt beyond recognition.

The accident involved three vehicles, two trucks and one 18-seater Toyota Hiace commercial bus with registration number BDG 767 XB. According to him, the Lagos-Ibadan bound bus had stopped on the road to allow one of the trucks with registration number SW 175 EPE coming out from NSCE Quarry to pass when unfortunately, another truck coming from Lagos ran into the commercial bus and smashed it to the stationed truck. According to Adeoye, the accident was as a result of speed violation and dangerous driving of the driver. “Immediately, the commercial bus went up in flames which later spread to other trucks”, he said. Four people, who sustained injuries, were passengers in the trucks and they had been conveyed to the University College Hospital (UCH) for treatment while the victims, who were burnt beyond recognition, were deposited at the Adeoyo State Hospital mortuary. Efforts were made by the FRSC Unit Commander to reach out to families of the victims through the driver’s manifest which was not burnt.

Jonathan gives Moro 24 hours to answer query CONTINUED FROM PAGE 2

are not qualified and were not shortlisted for this interview. A lot of other persons from the reports I got, gate-crashed into the venue. They were not expected to be at the venue. “The purpose why we designed to hold this interview at the various stadia across the country is because of the vital physical exercise of it. We are supposed to conduct the physical exercise, conduct the written aptitude test and a combination of these materials would form the basis to select people that would join the Immigration Service. “As at the last report I got from the field, seven persons, which include

five females and two males, died in Abuja. In Rivers State, five people died in Port Harcourt, two in Niger State, and one pregnant woman died in Benin, Edo State. In all, 15 people lost their lives. “The waiver that was given to the ministry to recruit people was 4,556. The people, who were supposed to sit for the interview were 522,650, and that was the number that applied for the job,” he said. On whether his wife and the wife of the Senate President, Senator David Mark, are part of the team that own the outsourced organisation the ministry engaged, he said: “My wife or the wife of the Senate President are not involved

in the outsourcing of the exercise and they are definitely not members of board of this company. This is an organisation that has been in existence before I assumed office as a Minister.” He explained that his ministry would set up a panel that would consist of eminent Nigerians and stakeholders to unravel the remote and immediate causes of the stampede. Wife of the Senate President, Mrs. Helen Onma Mark, also denied the reports. In a statement signed by the Special Adviser to Mark, Mr. Kola Ologbondiyan, Mrs Mark described the report as a “wicked lie”, designed to tarnish

her image for no just cause. “It is very strange to me because I do not know the consultant that organised the recruitment exercise neither did I play any role in the recruitment exercise. I have no relationships of any sorts and in whatever form with the said consultant”. It was learnt yesterday that members of the House of Representatives will today move against Moro and the Immigration boss. The lawmakers, numbering about 40, will come under matters of urgent national importance and sponsor a motion, calling for the immediate sack of the duo. One of the lawmakers said the House would

urge Jonathan to sack Moro and Parradang, failure of which “failure of which, the House will not appropriate money for the Ministry of Interior in 2014 budget”. Other prayers in the motion, according to the source, are that “Both the minister and the CGI and all officers responsible for the scandalous handling of the recruitment exercise should be investigated and prosecuted, if found culpable. “That the Federal Government should take responsibility for the funeral and burial of all those who lost their lives and also foot the medical bills of those who sustained injuries during the exercise.

“That the recruitment test conducted on Saturday by the Immigration Service be cancelled and a proper employment exercise carried out. “In a country where the government is preaching to citizens to do the right thing, we (lawmakers) will be failing in our responsibility to keep quiet and sweep this matter under the carpet. “The minister and the Comptroller General of Immigration have all failed in their duties. They have clearly shown that they cannot be trusted with public office and must be shown the way out. We are ready and must insist for the right thing to be done”

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Tuesday, March 18, 2014

Jonathan okays 25 justices for Appeal Court Tunde Oyesina Abuja

resident Goodluck Jonathan yesterday approved the appointment of 25 new justices for the Court of Appeal. The National Judicial Council (NJC) had at its last meeting compiled the names and forwarded same to the President for approval. According to a statement by the spokesperson of the council, Soki Oye, the justices are Justices Hamma Akawu Barka (Gombe), Joseph Jude Jella (Taraba), Bitrus G. Sanga (Bauchi), Muhammed

Mustapha (Borno ) and Yargata Nimpar (Gombe). Others are Justices Sa’idu Tanko Hussein (Kogi), Mudashiru N. Oniyangi (Kwara), Amina Audi Wambai (Niger), Ridwan Maiwada Abdullahi (Nasarawa), Tani Y. Hassan (Kano), Muhammed Lawal Shuaibu (Jigawa), Kadi Musa Hassan Alkali (Kaduna), Jamilu Y. Tukur (Katsina) and Paul Obi Elechi (Ebonyi). Also on the list are Justices Ugochukwu A. Ogakwu (Enugu), Nonyerem Okoronkwo (Imo), Joseph E. Ekanem (Akwa Ibom), F.E. Oho (Delta), Abimbola O.O. Adejumo

Court: President can contest in 2015

he Federal High Court in Kaduna yesterday struck out a suit challenging the eligibility of President Goodluck Jonathan to contest the 2015 general elections. The suit, instituted by Shuaibu Lili and one other, had sought a declaration barring the president from contesting the 2015 presidential election. Counsel to the plaintiffs, Mohammed Ibrahim, had argued that Jonathan, haven been sworn twice into office as president, has no constitutional right to contest for the post

again. He cited Sections 145, 142 and 146 of the Constitution which limits the tenure of the president and governors to a maximum of eight years. The plaintiffs had also sought for an order to restrain the Peoples Democratic Party (PDP), joined as defendant, from fielding Jonathan as its presidential candidate in 2015. In her ruling, Justice Evlyn Enya-Dike said the plaintiffs had failed to convince the court in all the prayers they sought, and struck out the case.

(Edo), Bolokuromo M. Ugo (Bayelsa), Biobele A. Georgewill (Rivers), Oludotun A. AdefopeOkojie (Ogun) Misitura O.

Bolaji-Yusuf (Oyo), J.O.K. Oyewole (Osun) and O.E. Williams-Dawudu (Lagos). Oye, however, added that the appointment is in

line with the new Court of Appeal (Amendment) Act which increased the number of justices of the Court from 70 to 90 and the

vacancies which were occasioned by the demise, retirement and elevation of some Justices of the court to the Supreme Court.

Anyim, Azinge, Jonathan and others...yesterday

R-L: Chief Bayo Ojo, Dr. Kunle Olajide, Lt Gen Alani Akinrinade, Chief Seinde Arogbofa, Dr. Ahmadu Ali and others...yesterday PHOTOS: Timothy Ikuomenisan

Conference will re-energise Nigeria’s unity, says Anyim CONTINUED FROM PAGE 1

has no personal agenda. Speaking at the event, the President said although the delegates were selected as nominees and representatives of different interest groups, they must strive to progress in such a manner that seeks to achieve a more united, stronger, indivisible and prosperous Nigeria. “We must not approach these issues with suspicion and antagonism. Rather, we should be open-minded and work to achieve what is best for Nigeria,” the President stressed. According to Jonathan, delegates would focus on such issues as form of government, structures of

government, devolution of powers, revenue sharing and resource control. Other issues for consideration include state and local government creation, boundary adjustment, state police and fiscal federalism, local government elections, indigeneship, gender equality and children’s rights, amongst others. “It is our expectation that participants in this conference will patriotically articulate and synthesize our peoples’ thoughts, views and recommendations for a stronger, more united, peaceful and politically stable Nigeria, forge the broadest possible national consensus in sup-

port of those recommendations and strive to ensure that they are given the legal and constitutional backing to shape the present and the future of our beloved fatherland.” While explaining that the conference is open for Nigerians to table their collective thoughts and positions on issues, and make recommendations that will advance togetherness, he said: “Let me again repeat what I have been saying that Goodluck Jonathan has no personal agenda in convening this national conference.” He said that the Conference is a very important avenue for the voices of Nigerians to be heard.

“Our people have yearnings and desires that need to be discussed. Their representatives at this conference are neither usurping the role of the National Assembly nor the Executive. They are complementing us in our march towards a greater and stronger union.” “Over the years, wellmeaning Nigerians have drawn attention to inadequacies in our current constitution. Some have described it as a militaryinspired document which does not take into full consideration the genuine desires and wishes of the people. “A deeper look will reveal that the challenges

we faced before each of the preceding national conferences were different. The challenges of 1956 are certainly not the challenges of 2014, and definitely not the challenges that the nation will face in years to come. It makes sense, therefore, that as the challenges before us evolve, we must be constant and proactive in our search for fresh solutions. We cannot continue to proffer yesterday’s solutions for today’s problems.” He, therefore, noted that the conference will prove critics who do not believe that Nigeria can discuss its future wrong. Earlier, Secretary to the Government of the Federation (SGF), Senator

Anyim Pius Anyim, who welcomed the delegates, said the conference surely will re-energise the togetherness of the country. Among dignitaries at the ceremony were Vice President Namadi Sambo, Senate President David Mark represented by his deputy Ike Ekweremadu; Speaker of the House of Representatives, Aminu Tambuwal; Chief Justice of the Federation Mariam Aloma Muhktar; members of the diplomatic corps, Service Chiefs, the Inspector General of Police, Mohammed Abubakar; members of the Federal Executive Council and other top government functionaries.

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Tuesday, March 18, 2014

NEWS

Tuesday, March 18, 2014

Poly students, protest continued closure of schools

photo news

Camillus Nnaji

S L-R: Attorney-General and Commissioner for Justice, Delta State, Mr Charles Ajuyah; Governor Emmanuel Uduaghan; Speaker, Delta House of Assembly, Mr Victor Ochei and Clerk of the Assembly, Lyna Ochulor, at the signing of the N451 billion 2014 Delta Budget into law in Asaba …yesterday.

tudents of Yaba College of Technology, Lagos, took to the streets yesterday at Yaba through Jibowu and Ikorodu roads protesting the stoppage of academic activities in all federal polytechnics and colleges of education across the country since October 4, 2013. They displayed various placards with inscriptions like “HND is equal or greater than B.Sc” and ``Stop the discrimination”. Some placards also read, ``we say no to strike,” ``we want to go back to our

classrooms” and “Education is our right not a privilege”, among others. The students blocked all major roads linking other parts of Lagos to their school. Speaking to New Telegraph correspondent during the protest, The Student Affairs President, Comrade Salvatore Ganiu, said concerned students agreed to team up in the protest to inform the Supervising Minister of Education, Chief Nyeso Wike, that they are tired of staying at home. “We are equally demanding the creation of the National Polytechnic

Commission and the regularization of the equality between Higher National Diploma(HND) and Bachelor of Science(B.sc).” Ganiu queried why the present government should be toying with their future since without the Education sector other sectors will not have skilled workers. New Telegraph gathered that the protest drew support of sister federal colleges of education and polytechnics in Lagos like Federal College of Education, Akoka; Polytechnic of Ado Ekiti, Ilaro, Nasarawa and Bida.

Obasanjo canvasses better infrastructure for Africa Kunle Olayeni Abeokuta

L-R: Technical Director, Vitafoam Nigeria Plc, Mr. Taiwo Adeniyi; Managing Director, Mr. Joel Ajiga; Managing Director, Vono Products Plc, Mrs. Titi Bakare and Head of Sales, Vitafoam Nigeria Plc, Mr. Bamidele Owoade, during a press conference to mark Vitafoam Nigeria Plc 2014 World Sleep Day, at the Corporate head office, Ikeja, Lagos…..yesterday. PHOTO: TONY EGUAYE.

L-R: Assistant Corp commander, Ikeja Unit, Federal Road Safety Corps (FRSC), Odekunle Oladimeji; Unit Commander, Mowe, Dare Ogundare; Sector Commander, Lagos State, Chidi Nkwonta; Acting Zonal Commanding Officer, RS2 HQ, Lagos, John Meheux; Sector Commander, Ogun State, Goke Adetunji; and Assistant Corps Commander on Public Education Campaign, Segun Ogungbemile, during the inauguration of Crash the Crashes Campaign on Lagos-Ibadan Expressway…yesterday.

ormer President Olusegun Obasanjo yesterday expressed dissatisfaction over the level of infrastructural deficit in many African countries and called for policy-change towards addressing the problem. He spoke at the third International Conference on Infrastructure Development in Africa (ICIDA) organised in Abeokuta by the Bells University of Technology where experts proffered solutions to infrastructural decay. The three-day conference, held in collabora-

Port Harcourt

PHOTO: TONY EGUAYE.

ress will be futile without adequate infrastructural base. "The challenges of human insecurity stare us in the face not only in Nigeria but across the continent. These include, among others, food and nutrition, healthcare, power, transportation and housing. It is glaring that there is need for a change in policies and technique of actualization to achieve excellence," he said. Obasanjo charged the conference participants to break new grounds in infrastructure development in the African continent.

Rivers guber race: Kalabari dig into history to reinforce demand Joe Ezuma

A cross-section of students of polytechnics in peaceful protest along Ikorodu road, Lagos...yesterday.

tion with the University of Johannesburg, South Africa and Kwame Nkrumah University of Science and Technology, Ghana had as its theme: "Environmental sustainability, safety and health in infrastructure development in Africa." Obasanjo, who was chairman of the occasion, stressed the need for African nations to create the platform for development of infrastructure that addresses their continent's environmental challenges. The former president observed that efforts at socio-economic development, growth and prog-

s ethnic groups in Rivers State jostle for the 2015 governorship race, the riverine Kalabari ethnic group said yesterday that its agitation to produce the next governor is based on the 1999 Agreement. A chieftain of the Peoples Democratic Party (PDP) in Rivers State, Chief Anabs Sara-Igbe who advanced the group’s aspiration, told newsmen

in Port Harcourt that the agitation of the people of Kalabari kingdom to produce the next governor of the state come 2015 was based on an agreement reached between the various ethnic groups in the state in 1999. Sara-Igbe said the ethnic groups, which met under the aegis of Rivers Democratic Movement (RDM), agreed that after Ikwerre ethnic nationality, Kalabari kingdom will produce the next governor before it gets to the turn of

the Ogoni. He said; “Prominent indigenes of Rivers State under the aegis of Rivers Democratic Movement (RDM) met to arrange the state with the aim of determining the sequence in which geo-political zones produce the governor of the state. It is on record and common knowledge that the Ikwerres have been clamouring for opportunity to produce governor of the state since the era of the leadership of Dr. Obi Wali.

NEWS

Tuesday, March 18, 2014

ACCIDENTS

How 55 people died in road misharps Hassan Jirgi Damaturu

ifty-five people have died in two road crashes in Yobe State in the early hours of yesterday, the Federal Road Safety Yobe Command has said. The Public Relations Officer of the Corp in the State, Yusuf Sani told newsmen in Dama-

55 die in two separate auto-crashes in Yobe turu, that one of the accidents occurred along Gashua-Garin Alkali Road in which 20 people died, out of whom 16 were female and four male. Other one involving three cars occurred on Damaturu-Potiskum, causing the death of 35 people. An eye-witness in Gashua who spoke with our state correspondent on phone, informed that

3,547m

The total number of mobile-cellular subscriptions of Asia & Pacific region in 2013. Source: Itu.int

the accident happened while some villagers were returning from the Sunday Market in the area. Speaking to Newsmen, the FRSC PRO explained that only seven people survived the accident. The cause of the accident, Yusuf said, was as a result of “overspeeding and dangerous overtaking”. He added that,“the ac-

7.8%

The percentage of households with a computer in Africa in 2013. Source: Itu.int

cident at Gashua killed 20 people. Out of that number, 16 were women and four were men. They were returning from a local Sunday market from Garin Alkali. On the accident along Damaturu/ Potiskum Road, 35 people died, only 7 survived. “The accident was caused as a result of over-speeding and dangerous over-taking”, Sani disclosed.

16,086,000 The total population of Mumbai (Bombay), India. Source: Worldfactsandfigures.com

L-R: Group Managing Director, UAC of Nigeria Plc, Mr. Larry Ettah; Ex- Corp Member/the unveiling personality, Miss Doyinsola Ogunye; Managing Director, Chemical & Allied Products (CAP) Plc, Mrs. Omolara Elemide and Executive Director, Corporate Services, UAC of Nigeria Plc, Mr. Joe Dada during the unveiling of the 2014 Dulux Colour of the Year held at the Golden Tulip Hotel, Festac, Lagos….yesterday.

QUIZZED

Soldiers, commissioner in police net Adesina Wahab Ado-Ekiti

kiti State Commissioner for Youth and Sports, Mr Kayode Olaosebikan has been quizzed by the police in Ado-Ekiti for allegedly beating up a youth corps member at a registration unit in Otun-Ekiti, Moba Local GovernLOSS OF DOCUMENT

This is to inform the general public that the Original Right of Occupancy (R of O) in respect of Plot 1525 Mbora District with File No. ZA20212 is declared missing. All efforts made to trace the said missing documents proved abortive. If found, please kindly return to the nearest police station or to HALIMA M. LUKMAN of No. 42 Moses Adasu Close Gudu District Abuja.

Voter registration: Police arrest commissioner, soldier ment Area of the state. Olaosebikan was yesterday afternoon taken to the Police Headquarters in Ado-Ekiti for interrogation Also, a soldier, Private Clement John is being questioned by the police for disrupting the exercise in EmureEkiti. John, who told policemen that he is serving in an Army unit in Borno State, was reportedly overpowered by others at the registration unit and handed over to the police. He too has been transferred to Ado-Ekiti for further investigation. The Police Public Relations Officer, Ekiti State Command, Mr Victor Babayemi, said confirmed the two cases. He said the soldier would be handed over to the Army formation in Ondo State to ascertain whether he is a soldier or not.

Olaosebikan reportedly beat up a youth corps member, Mr Thompson Enobong, who was one of the Independent National Electoral Commission (INEC) staff. The assaulted National Youth Service Corps (NYSC) member with NYSC number EK/13c/1859 was said to have been rushed to the Federal Medical Centre (FMC), IdoEkiti where he is receiving treatment. Olaosebikan, who was asked to make a statement at the State Criminal Investigation Department, denied beating up the corps member. Meanwhile, the Director-General, Prince Adedayo Adeyeye Movement (PAAM), Hon Bisi Kolawole, has called on the NYSC to protect its members by making sure that the commissioner was not allowed to escape justice.

Ondo PDP vows to win April 5 byeelection, faults delegates list Babatope Okeowo Akure

he Ondo State chapter of the Peoples Democratic Party (PDP) yesterday faulted the list of delegates forwarded by the state government to the on-going National Conference, just as it vowed to win the bye election in Ilaje/ Eseodo federal constituency fixed for April 5. The party at a final reconciliation meeting held amongst its leaders in Akure, the state capital yesterday said, the nomination of political office holders as delegates for the state did not represent the wish of the majority of the people of the state. The state governor, Dr Olusegun Mimiko has nominated the Vice Chancellor of Adekunle Ajasin University, Akungba Akoko(AAUA), Prof Femi Mimiko, Commissioners for Adult and Vocational Education, Environment and Women Affairs, Mr. Remi Olatubora, Chief Sola Ebiseeni and Mrs

Yemi Mamud as state delegates to the conference. But the PDP at the meeting attended by Barrister Jimoh Ibrahim, Prof Olu Agbi, Mr Ife Adedipe SAN, Prince Adetokunbo Kayode SAN, Chief Soji Adesugba, Princess Oladunni Odu, Mr Ayo Ifayefunmi, Mr Ebenezer Alabi , Dr Tayo Dairo, Mr Janet Febisola Adeyemi and other leaders of the party, said the list submitted by Mimiko did not represent the best of the state. Addressing reporters at the end of the meeting, Fayefunmi, Odun and Adeyemi supported President Goodluck Jonathan for setting up the National Conference and other transformation agenda of the Federal Government. However, the party regretted that “having given a critical overview to the list that emanated from Ondo State, we observed that many of them are political office holders in the government of Ondo State.

Boko Haram invades Borno villages, kill 2, set ablaze churches, houses Ahmed Miringa Maiduguri

unmen suspected to be members of Boko Haram have again invaded Pela Birni Village in Hawul Local Government Area of Borno State, killing two residents and burning two churches and many residential houses. A resident, Mallam Musa who spoke to newsmen on phone said that, the gunmen invaded the village at about 10pm on Sunday with sophisticated weapons, shooting sporadically , and killing two before setting ablaze the two churches and many houses. He said the incident has forced people to have fled the village and were now taking refuge around the mountainous areas of

Kwajjafa District and it's environs. He said, he narrowly escaped being killed by the attackers, as the house he slept in was also set ablaze. He was lucky to have escaped by the Grace of God.. "The gunmen invaded our village at about 10 o'clock in the evening on Sunday, and started shouting. God is Great. Some were lucky to have gone out of their houses before they set them ablaze. We are here for God’s work". Another resident who did not want his name in print, told our Correspondent that the Church of Brethern, (EYN in Hausa) and the neighbouring houses were set ablaze, while two people lost their lives, while many sustained injuries.

NEWS

ACCIDENTS

How 55 people died in road misharps Hassan Jirgi Damaturu

Tuesday, March 18, 2014

3,547m

The total number of mobile-cellular subscriptions of Asia & Pacific region in 2013. Source: Itu.int

7.8%

The percentage of households with a computer in Africa in 2013. Source: Itu.int

16,086,000 The total population of Mumbai (Bombay), India. Source: Worldfactsandfigures.com

QUIZZED

Soldiers, commissioner in police net Adesina Wahab Ado-Ekiti

Ondo PDP vows to win April 5 byeelection, faults delegates list Babatope Okeowo Akure

Boko Haram invades Borno villages, kill 2, set ablaze churches, houses Ahmed Miringa Maiduguri

NEWS

Sanctity of Truth

Tuesday, March 18, 2014

WARNING

Government alerts prospective buyers against area earmarked for residential housing scheme Muritala Ayinla

he Lagos State Government, yesterday, warned residents, especially prospective land buyers in the state, to stay away from Ayobo lands, declaring that all parcels of land in the area are under its acquisition. It stated that by virtue of Lagos State Official Gazette No. 15 Volume 34 of May 5, 2001, the entire land in

Lagos warns buyers to stay off Ayobo lands Ayobo belonged to the state government. The Permanent Secretary of Lands Bureau, Mr. Hakeem Muri–Okunola, who gave the warning, said some members of the public had been selling lands under government's acquisition, warning everyone to be wary of individuals, families, traditional rulers and communities who might want to sell Ayobo land occupying 455.76 Hectares. According to him," members of the public must be wary of the act of individuals, families, traditional rulers and communities who engage

in the widespread indiscriminate and illegal sale of Government acquired land at Ayobo in Alimosho Local Government Area of Lagos State. "All parcels of land at Ayobo containing an area of 455.76 hectares were acquired by Lagos State Government, by virtue of Lagos State Official Gazette No. 15 Volume 34 of May 5, 2001 and the land was earmarked and named Ayobo Residential Scheme." The Permanent Secretary urged the members of the public to take formal step to verify the status of any landed property before

consummating the transaction. Muri-Okunola, however, urged the public to obtain Land Information Certificate from the Office of the SurveyorGeneral and ascertain the status of the land before purchasing, and after ensure proper validation of the titles from the Lagos State Land Registry before making attempt to purchase any landed property. He added that, "it is a fact of common knowledge that there is increasing illegal activities of fraudsters who deceive unsuspecting members of

L-R: Group Managing Director/CEO, Arco Petrochemical Engineering Plc, Mr. Alfred Okoigun; Football Legend, Taribo West; Edo State Commissioner for Environment, Mr.Clem Agba and Jayjay Okocha during a cruise on Arco Fast Crew Boat 4 to celebrate its arrival in Lagos

7,206,517

The total population of Washington, Baltimore. Source: Worldfactsandfigures.com

212,920,749

The total population of Northern Africa region (representing 3.08% of the world’s population). Source: Blatantworld.com

73.2

The number of households with computer per 100 inhabitants in developed nations in 2011. Source: Itu.int

the public based on unconfirmed claim that they are the owners of such lands. “The unsuspecting members of the public are, therefore, enjoined to take necessary caution by way

AMCON seminar for judges paralyses court activities

seminar for judges organised by the Asset Management Corporation of Nigeria (AMCON), yesterday, paralysed activities at the Federal High Court in Lagos, and stalled the trial of the Speaker of Lagos State House of Assembly, Mr. Adeyemi Ikuforiji, and his personal assistant, Mr. Oyebode Atoyebi. The Economic and Financial Crimes Commission (EFCC) charged them

with 54 counts of money laundering. They were accused of receiving over N600million from the Lagos State House of Assembly between April 2010 and July 2011 without passing through any financial institution. When the case was called, Justice Ibrahim Buba, presiding, adjourned the trial. The matter was adjourned the last time following a request by Ikuforiji's new lawyer, Wole Olanipekun (SAN), for

time to study the file. Olanipekun agreed that the case be adjourned in view of the seminar the judges were attending. According to Olanipekun, a former President of the Nigerian Bar Association (NBA), who took over from Mr. Tayo Oyetibo (SAN)., all judges of the Federal High Court were said to be attending the seminar. EFCC’s first witness, Adeniyi Adebayo began his testimony in the trial

on November 21. He said the sum of money collected from the House of Assembly was above the threshold of cash transaction stipulated by the Money Laundering Act. The EFCC said the alleged offence contravened Section 18 (a) of the Money Laundering (Prohibition) Act 2011. But lawyers who pleaded anonymity criticised the seminar, saying the judges might compromise cases in which AMCON would be a defendant.

of verifying the status of any landed property, else they may purchase litigation and venture that may end up as colossal waste of hard earned financial resources,” he summed.

Power privatization: Court stops BPE from bidding process Tunde Oyesina Abuja

Federal High Court sitting in Abuja yesterday stopped the Bureau of Public Enterprises (BPE) fromngoing ahead with the bidding process of three power stations. The BPE had began the sale of Aloaji, Amoku and Gbarain power stations on March 7, 2014 But a company, Ethiope Energy Limited that also submitted bid for the power stations was excluded from the bidding process. Not satisfied with its exclusion, Ethiope approached the court for an order to stop the BPE from further going ahead with the bidding process. In the statement of claim filed through its counsel, Dr. Alex Izinyon (SAN), Ethiope accused the Chairman of the Due Diligence Committee, Mr. Atedo Peterside as having enormous influence on the BPE.

The company said that Atedo Peterside has been having a running battle of blackmail, hostility, animosity against its Chairman, Chief Johnson Arumemi. Ethiope accused the BPE of bias, prejudice, conflict of interest, manipulation in the technical bid evaluation due diligence exercise and also said that Mr. Atedo Peterside should have excused himself completely in the whole evaluation as it relate to the plaintiff owing to the animosity and litigation he instituted against its Chairman. Other defendants in the suit are Niger Delta Power Holding Company Limited and the Attorney-General of the Federation. During yesterday's proceedings, Izinyon begged the presiding judge, Justice Abdul Kafarati to stop the BPE from going ahead with the bidding process pending the hearing and determination of the suit.

Group tips Ngama for Yobe PDP guber Hassan Jirgi Damaturu

Joseph Jibueze

obe State Coordinator of the Peoples Democratic Party (PDP) Fan Club Worldwide, Hon Muhammed Arabi Bello, has assured that the party is working hard to see that it produces the next governor of Yobe state in 2015. Speaking to Newsmen in Damaturu, the state capital, he said that the people who form majority of the membership of PDP in Yobe state had decided to call former state minister of Finance Dr Yarema Lawan Ngama to contest for governorship position

in 2015. According to him, PDP in the state was poised to produce senators, House of Rep members and state legislators in 2015. He said that, Ngama had provided the mechanism for PDP to take over the state in 2015, blaming the poor outing of the party during 2011 elections on selfish ambitions of the party's leadership. "Let me tell you that, for about three times we have been supporting one individual candidate to run for the governorship of the state. But when we come for the election proper we were always defeated," he said.

10 NEWS SUCCESSION

Recent events in Delta may shape the politics of 2015 in the state Dominic Adewole Asaba

limmers of what to expect during the race to succeed the Delta State governor, Emmanuel Uduaghan, became clearer in the state yesterday. The situation was made clearer with the resignation of the Speak-

Sanctity of Truth

Tuesday, March 18, 2014

Ochei’s resignation, Ogboru’s defection hot up Delta guber race er of the state’s House of Assembly, Hon. Victor Ochei and the collapse of the rival Democratic Peoples Party (DPP) structure to the Labour Party in the state. A reliable source said; “The Speakership position has tied Ochei down for so long because of the enormous duties attached to his office, he

could not reach out as it should be, but now that he has dropped the job, he can now go into full-blow campaign.” Also, Chief Great Ogboru had unceremoniously defected from the DPP sometime ago to add pep to the race to the Government House. Their actions have continued to generate uneasy

calm across the political divide of the oil rich state, as people wondered what was about to play out. While Ogboru has become the godfather of opposition politics in the state, Ochei, pundits said, “may soon wear the toga should the ruling People Democratic Party (PDP) refused him its ticket.”

Although, Ochei did not mention 2015 governorship race in his resignation letter, but that he wants to pave the way for a new leadership to emerge in the House, it was however gathered that the resignation would afford him opportunity to fly out of the PDP if the party’s primary elec-

tion is unfavourable as it happened to Chief Peter Okocha, who joined the defunct Action Congress (AC) after he allegedly spent millions to no avail to secure the PDP flag in 2007. Registered political parties in the state have since left their doors open for aggrieved aspirants in the PDP to come in.

Invest in quality education, Catholic bishops tell FG Yekeen Nurudeen Abuja

B L-R: Director General, Standard Organization of Nigeria (SON), Dr. Joseph Odumodu; former President, Nigerian Institute of Building (NIOB), Lagos chapter, Mr. Kunle Awobudu and President, COREN, Dr. Ali Kashim, during SON's Stakeholders’ Technical Forum on Cement held in Lagos…yesterday PHOTO:GODWIN IREKHE

N15.5bn

The total export value of cocoa paste not defatted of Nigeria in the second quarter of 2013. Source: National bureau of statistics

N10.7bn

80.4%

The total import value of Urea of Nigeria The percentage of female internet in the second quarter of 2013. users in France in 2010-2012. Source: National bureau of statistics Source: Itu.int

We didn’t endorse Obi for presidency – S’East monarchs ENDORSEMENT South-East monarchs wash hands clean of Anambra politics Steve Uzoechi Owerri

he South East Council of T raditional Rulers has denied reports in one of the national dailies (not New Telegraph) purporting that traditional rulers from the zone had endorsed the former

governor of Anambra State, Mr. Peter Obi for the presidency. In a statement signed by his Chief Press Secretary, Chairman of the South East Council of Traditional Rulers, Eze Cletus Ilomuanya, described the said report as ‘embarrassing and most unfortunate.’ He said the report did not reflect what actually transpired at the chieftaincy title conferment on Mr. Peter Obi by the state’s traditional rulers last Saturday in Awka, Anambra State.

Ilomuanya, however, urged Nigerians to disregard the aspect of the report suggesting that the South East monarchs have endorsed Mr. Peter Obi for the presidency. According to the statement; “It is baseless, lacks any modicum of truth and purely imaginary. No such issue has ever been discussed anywhere or at any time between Peter Obi and the South East monarchs. The council is indeed, perplexed by such misleading report.” The statement further

noted that the chieftaincy title conferment and the choice of title for Chief Peter Obi were purely an Anambra State traditional rulers’ affair and not that of the South East monarchs, who only attended the ceremony as invited guests. Ilomuanya continued: “These clarifications became imperative to avoid anybody hiding under the cloak of South East Traditional Rulers Council to pursue any self-serving agenda and cause unnecessary confusion.

ishops of the Catholic Church of Nigeria have called on the Federal Government to place premium on the provision of quality education for the citizenry, lamenting that the takeover of schools from religious institutions has killed the nation's education system. The bishops in a communiqué issued at the end of the First Plenary Meeting of the Catholic Bishops' Conference of Nigeria (CBCN), said only investment in quality education by the Federal

Government can help the country surmount its current challenges. The communiqué reads in part: “History shows that the Church started very early to invest heavily and fruitfully in quality education in what is now known as Nigeria. The church established schools which were known for their good academic and moral standards and their non-discriminatory policies, even in the difficult terrain of rural Nigeria. Prior to the government take-over of schools in the 1970s both the Church and the state were partners in education, the bishops said.

School girl, 6, found beheaded, dismembered in Ibadan Sola Adeyemo Ibadan

ragedy struck at Moniya area of Ibadan on Friday, when a lifeless body of a 6-year-old primary school girl was found in a building three days after she had been declared missing. The decomposed corpse of Adedayo Yetunde was found beheaded and disembowelled in a room in a deserted building close to a herbalist's house at Isale Awero, Moniya, Ibadan.

In the room were also found seven school uniforms and five school bags, suggestive of the fact that many other pupils might have been killed for ritual purposes in the past. According to her mother, Merry, the deceased had been found missing since Wednesday and all efforts to find her proved abortive until some vigilant sympathisers on Friday suspected offensive odour oozing out of the padlocked house and decided to force it open.

NEWS

Sanctity of Truth

Tuesday, March 18, 2014

Tension in Onitsha as businessman claims ownership of market Dilionye Dilibe Onitsha

ear yesterday gripped traders of Progress Market, situated along Niger Street, Onitsha, following the claim of the market ownership by an Onitsha-based businessman, Chief Chris Agwuncha. Chief Agwuncha is claming the market based on his purported possession of Certificate Of Occupancy, issued to him by the Anambra State Commissioner for Lands and Survey, Chief Okorie Akirika. Last two weeks, it was gathered that Chief Agwuncha arrived the market with some armed policemen to formally notify the market executives of his desire to reclaim the said market from the present occupiers. It was reliably gathered that the plan to sell the market, which is standing on four plots of

land, to the new claimant was hatched in the office of a top government official, with documents purportedly issued to the claimant. In a reaction to the claim, the chairman of Progress Market, Mr. Ekene Okoye told New Telegraph that the land transaction was between the traders and Onitsha South Local Government where all necessary documents were issued to the traders by the landlord. He wondered why somebody who has no business in the market should threaten the peace and stability of traders in the area. He however called on the state government to investigate Chief Agwuncha’s claim and establish the real owners of the market, stressing that the claimant had resorted to using hoodlums to harass the traders in a bid to forcefully take over the market.

Boko Haram: Islamic leader fingers Shettima, Northern elders Joe Ezuma Port Harcourt

ice President-General of Ja’amatu Nasil Islam (JNI), Alhaji Abubakar Orlu has called on the Federal Government to hold Borno State Governor, Alhaji Kashim Shettima, and elders in the North East geo-political zone for the menace of terrorists sect, Boko Haram. The governor earlier accused politicians of being behind the sect. Orlu, in a chat with newsmen in Port Harcourt yesterday, said for Shettima to allege that the activities of the Boko Haram was being sponsored by politicians, was an indication that the governor actually knew those behind the terrorists group. “The people we are going to hold responsible are all the politicians

from that area. Nigerians should hold these Northern people who know them and refused to bring them out. If the governor of Borno State can openly tell the world that the people sponsoring Boko Haram are politicians, that means he knew them. “The question now is; are they politicians from the South? Are they not politicians from the North? Let us hold the governor of Borno and elders from Northern Nigeria accountable for what Boko Haram is doing. The governor knows members of Boko Haram, so he should come and help to fish them out. “The people in Northern Nigeria where Boko Haramoperatesknowthemand membersof BokoHaramkill them and burn down their houses because they (Boko Haram members) feel that the residents are giving information to the federal troops.”, he said.

Deputy Speaker, House of Representatives, Emeka Ihedioa (left) and Senate President, Senator David Mark, during the 130th IPU conference in Geneva, Switzerland...yesterday

NIS tragedy: Fed Govt dragged to UN over violation of job-seekers’ rights PETITION

Group challenges death by stampede of job seekers Dayo Ayeyemi

erturbed by the stampede that took the lives of fifteen Nigerians seeking employment into the National Immigration Service (NIS), the SocioEconomic Rights and Accountability Project (SERAP) has sent a petition to UN Secretary General Mr. Ban Ki-Moon, requesting him to publicly condemn and refer the

unlawful deaths and inhuman and degrading treatment of job-seekers by the Nigerian government to appropriate United Nations human rights bodies . In a statement signed by the Executive Director of SERAP, Adetokunbo Mumuni, which was made available to New Telegraph yesterday, human rights bodies mentioned in the petition were the UN Committee on Economic, Social and Cultural Rights, the Office of the High Commissioner for Human Rights and the Human Rights Council. The group said intervention of UN was necessary in order to achieve

international accountability of Nigeria for the violations of the human rights of the job-seekers. The group pointed out that by doing this; the Secretary-General would be upholding the values and moral authority of the United Nations and sending a powerful message that the UN will not tolerate fragrant violations of human rights of Nigerians. In the petition dated 17 March 2014, the organization said, “Millions of Nigerian children and university graduates continue to be denied the right to work unfairly. Yet, work is important for personal

development as well as for social and economic inclusion.” “The unlawful deaths and inhuman and degrading treatment of the job-seekers constitute violations of their rights to life, dignity and work. The case also showed the growing level of economic injustice caused by pervasive corruption and lack of opportunities for Nigerian children to enjoy the right to employment and to gain a living by work, as guaranteed by international and regional human rights treaties to which Nigeria is a state party,” the organization said.

Group wants Land Use Act, others expunged Charles Onyekwere Port Harcourt

socio- political group, the Rivers Mainstream Coalition (RMC) has declared it total support for the National Conference of the Federal Government declared open yesterday, describing it as well-timed. The group, a rallying point of all ethnic nation-

alities in the state, made this known at the mininational conference, held at the Atlantic Hall of Hotel Presidential, Port Harcourt, Rivers State at the weekend. In a 19-point communiqué, issued at the end of the conference with the theme: “Task and Issues for the National Conference,” the group called on the Federal

Government to put a think tank in place to manage emerging events from the conference and provide secretarial and research support to the delegates. The communiqué, signed by the group’s Director, Information and Strategy, Mr. Sotonye Ijuye Dagogo, stated that polluted environments in Ogoni, Bonny, Ogba,

Kalabari, Eleme areas of the state should be cleaned up, including others affected by oil exploration activities. The communiqué further stated that the obnoxious laws such as the Petroleum Act, Land Use Act, Oil Pipeline Act, Mineral Resources Act, be expunged and the Petroleum Industry Bill should be passed.

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Tuesday,March 18, 2014

Six-year-old girl beheaded, dismembered HEARTLESS A six-year-old girl, on her way from school, was killed for ritual purpose

Sola Adeyemo Ibadan

he lifeless body of a six-yearold primary school girl, Adedayo Yetunde, has been discovered in a building three days

after she was declared missing. The girl was beheaded and disembowelled and dumped in a deserted building close to a herbalist’s house at Isale Awero, Moniya, Ibadan, Oyo State. In the room were also found seven school uniforms and five school bags, suggesting that many other pupils might have been killed for ritual purposes in the past. Yetunde’s mother, Merry, said the girl went missing last week

Fumigation will protect 1.5m residents against malaria - Commissioner

Idris

Appolina Adeyemi and Muritala Ayinla

agos State Government said yesterday it was determined to protect 1.5 million residents against malaria through the 2014 Indoor Residual Spraying (IRS) exercise. It also said it had so far protected 3.5 million people, adding that the 1.5 million residents would be protected as their houses would be fumigated against mosquitoes in the seven local government areas and local council development areas (LCDAs). The Commissioner for Health, Dr Jide Idris, who made the disclosure, said the exercise which commenced last Saturday, would continue for 40 days. Idris urged the residents to cooperate with the government of-

ficials, who would be going round the city to fumigate their houses. The commissioner described the fumigation exercise as government’s integrated vector management programme aimed at combating malaria. He said: “The malaria prevalence survey conducted in 2010 put the state prevalence at 4.8 per cent with a range from 0.5 per cent on Lagos Island to 13.1 per cent in Ikorodu. “However, using data from the health facilities within the IRS LGAs as proxy, there has been a decline in malaria cases.” Idris said the 2014 IRS exercise commenced on March 15 in Ojo, Ikorodu, Badagry, Amuwo-Odofin, Kosofe, Ibeju-Lekki councils and their corresponding LCDAs. According to him, the IRS exercise will include Epe LGA along with its two appurtenant LCDAs based on scientific recommendation. He said: “The larval source management (larviciding) is also expected to cover over 2,455 hectares of mosquito breeding sites in Surulere and Kosofe LGAs and protect an estimated population of 1.5 million people.” Idris noted that prior to the commencement of the 40 day spraying exercise; various preimplementation activities were planned and were currently being implemented to ensure maximum cooperation, acceptance and effectiveness of the exercise.

Wednesday, while efforts to find her were abortive until Friday when some sympathisers perceived an offensive odour oozing out of the padlocked house and forced it open. After opening the door, they were greeted by flies flying in and out of the house and the decomposing body. It was gathered that Yetunde and three of her colleagues were going home after school hours when she said she wanted to go

and drink water at a mosque called Allahu Mujeed Mosque nearby while the others waited for her in vain. But, that led to a three-day search. A Superintendent of Police at Moniya Police Station led the team of policemen who removed Yetunde’s body from the building. It was gathered that the owner of the building, which has no windows, apart from the net on the windows, is not living in the

house. The landlord’s daughter and a male tenant were said to be living in the six-room building. The house was said to belong to Iya Aladie (fowl seller), who could not be located at press time. The state Police Public Relations Officer, DSP Olabisi Ilobanafor, who confirmed the incident, said investigation had commenced into the case.

Gridlock: Motorists, residents groan over closed bridge Muritala Ayinla

otorists and residents in Dopemu/IyanaIpaja axis on Lagos Abeokuta Expressway now groan over gridlock in the area. They also called on the Lagos State and Federal Governments to expand roads and bridges in the area to clear the usual gridlock. The persistent traffic jam in the axis became worse because of the ongoing repair of the bridge by the state government. But the government said it had deployed more officials of the Lagos State Traffic Management Authority (LASTMA) to the axis to ensure free flow of traffic throughout the 20 days slated for the repair of the bridges. The Commissioner for Transport, Kayode Opeifa, made the disclosure, after carrying out on-the-spot assessment of the traffic situation and the rehabilitation works on the bridges. He admitted that the traffic situation was challenging for motorists, but assured that the pains they were experiencing would soon be over. Opeifa promised that with-

Gridlock in the area yesterday

in 10 days, driving in the axis would be a smooth ride, adding that when the repair was over, it would ease traffic from the Lagos-Abeokuta Expressway to Alimosho/Egbeda area of the metropolis. The commissioner said the decision to repair the bridges was to ensure free flow of traffic and lessen the pain motorists often experience.

On strategies put in place to manage traffic during the period, Opeifa said over 20 personnel from LASTMA, policemen, officials of the Federal Road Safety Commission (FRSC) and Special Traffic Marshals had been deployed. According to him, they will resume as early as six o’clock in the morning and work late into the night.

Friends, associates scramble for Imoke’s seat / PAGE 14 | PDP on course to reclaim S’West –Doherty / PAGE 17

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Jega: Poor funding, obstacle to credible polls When the Mustapha Akanbi Foundation (MAF) last week gathered key stakeholders in the polity to discuss the 2015 general elections, it was an opportunity for those concerned to open up on their fears and expectations about the polls particularly from the Independent National Electoral Commission (INEC). BIODUN OYELEYE, who covered the lecture, reports.

he chairman, Independent National Electoral Commission (INEC), Prof. Attahiru Jega, last week expressed fears over the possitivity of having credible elections in 2015. His fears arose as a result of poor funding of the commission by the Federal Government. He put the blame at the doorsteps of the Budget Office, which slashed its budget from N102 billion to N45 billion. Jega spoke at a public lecture with the theme “Challenges of fraud-free elections under a Democratic dispensation” organised by the Mustapha Akanbi Foundation (MAF), a body set up by Justice Mustapha Akanbi, former President, Court of Appeal. The lecture held in Ilorin, the Kwara State capital, was chaired by the Speaker, House of Representatives, Hon. Aminu Tambuwal. It centred on preparations for the 2015 elections, including logistics and funding, transparency and lessons from the 2011 polls. Planning for 2015 While reflecting on the 2011 elections, Jega noted that credible election requires adequate and timely planning, effective partnership and cooperation. Jega said even though the 2011 elections which he fully supervised was not perfect, there are still accolades for the exercise as being perhaps the best in Nigeria’s election history.

He also highlighted the commission’s preparations for the 2015 polls from three focal perspectives: structure, policy and plan. On structure, he recalled that the commission has taken a long and deep look at itself as an institution, its structure and processes as well as its human resources while on policy, he said, the commission has focused on developing new policies to guide its work and create the right ‘normative framework’ for successful election management in Nigeria. The planning aspect has been on the development of strategic planning as well as election planning. The result, according to Jega, is that INEC now has a strategic plan from 2012-2016 which is being implemented, a detailed election project plan is in place and will ensure a seamless execution of specific tasks leading to the 2015 polls. He added that, INEC has undergone a comprehensive restructuring; the consolidation and re-duplication of

Jega

the biometric voters’ register has been completed as a result of which the register of voters now has tremendous integrity much better than the one with which the 2011 elections were conducted. Indeed, Jega said, the current register compares favourably with any of its kind on the African continent. An end to Addendum Register The commission has also stopped the use of Addendum

Register for elections. Instead, it has put in place Continuous Voters Registration (CVR) which offers fresh opportunity to get more voters onto the electronic register ahead of the 2015 elections. The CVR has been kickstarted in Osun and Ekiti states ahead of the governorship elections in June and August. The commission, he said, has also issued the chip-based Permanent Voter Cards (PVCs) to be used in

CROSSFIRE There are no oil producing states. The only oil producing state is the Nigerian state itself... What they claim is the offshore oil is actually the oil of the North. We should stop using these terms that have no sense at all - Usman Bugaje

The intention and implication of Bugaje’s statement is that the North is planning genocide against our people, the same way they’re sponsoring Boko Haram. That is the import of what Bugaje has said -Dokubo-Asari

CONTINUED ON PAGE 16

POLITICAL NOTES

NIS: Death for applicants

ast Saturday about 19 people, including four pregnant women died in Abuja, Minna, Port Harcourt and Benin during a nationwide recruitment test of the Nigerian Immigration Service (NIS). It is indeed sad to see how a nation wastes its youths, instead of harnessing their potential to contribute positively to nationhood. It’s unimaginable that government agencies have turned recruitment exercises into revenue generation tactics by asking prospective applicants to pay money to be considered for interviews. How come there were hundreds of thousands of qualified candidates chasing a few vacancies. It indeed makes nonsense of claims by governments at all levels to have created thousands of job opportunities during their administration’s lifespan. Young Nigerians are made to pay through their nose, and chase after jobs that have been slotted out to elected political office holders, who in turn share them out to their constituents, and favourites, irrespective of competence. What happens to those who now died as a result of shoddy arrangement of the NIS. Who will comfort their loved ones? And most importantly, what lessons do we learn from this, to prevent a recurrence, when government will as usual pay lip service to the issue, only for it to be forgotten, until another tragedy happens. When will Nigeria start to truly respect the sanctity of human lives, and protect the lives of its citizen, by first of all treating citizens with dignity irrespective of tribe, religion or status? We mourn the applicants who died last Saturday.

14 POLITICS

Sanctity of Truth

Tuesday, March 18, 2014

Friends, associates scramble for Imoke’s seat Political associates and friends of Governor Liyel Imoke have thrown their hats into the 2015 governorship race in Cross River State. CLEMENT JAMES in Calabar x-rays the aspirants and their chances.

is said to sometimes attend the meeting. He wants the three wise men accord to be kept.

n Cross River State, the battle line is gradually being drawn between some of governor Liyel Imoke’s friends and associates who all from the are eyeing the exalted seat at the Government House in Calabar. How the governor will handle the situation without puncturing the Peoples Democratic Party (PDP) umbrella in the state is not known yet. But so far, he has been silent on who succeeds him, except for his open pronouncement that the office will go to the Northern Senatorial Zone. The state, unlike other states of the federation, has been quite calm but underground activities have heightened and the current seems to be increasing with more individuals expected to indicate interest. Almost all those who have indicated interest, albeit subtly, are Governor Imoke’s friends who have worked with him at one time or the other. They include, but not limited to, Hon. Larry Odey, the current Speaker of the State House of Assembly who, only last week, declared his interest in the office at a meeting with the 18 PDP local government chairmen in the state. So far, he is the first to do so publicly. Other candidates are: former Commissioner for Environment, Mr. Julius Okputu, who some suspect to be the governor’s candidate; Ntufam Fidelis Ugbo, immediate past Secretary to the State Government and now, Executive Secretary, National Planning Commission; Chief Francis Bulem, one-time Zonal Manager, Skye Bank and current chairman of the state Board of Internal Revenue Service and Chief Frank Adah, former Speaker and now, member of the House of Representatives. Hon. Legor Idagbo, present Commissioner for Works; Chief Peter Ojie, former Deputy State Chairman of PDP and currently Commissioner for Local Government Affairs; Chief Gershom Bassey, Imoke’s bosom friend and Chairman of the state Water Board Corporation and Prince Goddy Jeddy Agba, current General Manager (Crude), Nigerian National Petroleum Corporation (NNPC) are also setting up structures for the epic contest. However, while the governor continues to hide his worry over the scramble for his office by close friends, speculations are rife that the Northern Senatorial District may not get the plum job after all. This suspicion is, perhaps, borne out of the covert plan by the governor’s closest friend, Chief Gershom Bassey to run for the office.

Imoke

Odeh

Ayade

Adah

The three wise men For a clearer picture on why Bassey wants to have a feel of the office in 2015, one needs to review the relationship between the triumvirates. Bassey, Imoke and Mr. Donald Duke, Imoke’s predecessor. The trio had been close friends even before the advent of the Fourth Republic. When Gen. Abdulsalami Abubukar opened the floodgate of politics in 1998, the three returned to the state and joined the struggle for political power. Duke won the governorship; Imoke went to the Senate while Bassey remained in the state with Duke. This victory notched them into an alleged agreement whereby they would rotate the office among themselves before outsiders are given a chance. Duke ruled for eight years and Imoke is on the last lap of his second tenure. Only Bassey is yet to step into the office even though he has been staying close to it since 1999. If the said secret agreement is carried out to the letter, then the Northern Senatorial District would have prepared in vain. Bassey is from the Southern Senatorial District with former Governor Duke. Although Bassey has said nothing about his ambition, stickers bearing his imprint have been circulating since November 2013 and those who are rooting

for him, mainly from the Efik stock, insist that there is nothing like three zones in the state but North and South. Bassey himself has been holding secret talks with some leaders of the north and has established structures in the zone. He seems to be hinging his interest in an accord between Ogoja (north) and the Efiks (south) which was entered into in 1983 when Akwa Ibom was part of the state. What is bothering northern leaders is not so much about Bassey’s interest in the race but his closeness to the governor. The north itself is not helping matters, as it is polarized, leaving political watchers to wonder if, indeed, the zone will not shoot itself on the leg when the chips are down. Bassey is the third leg of the tripod. He is said to have extracted a commitment from the duo of Duke and Imoke that after their turn, he would take over - a commitment that did not take into cognisance, the political division of the state. Although he has said nothing, he is building structures, holding meetings, and talking to his friends. Gershom’s office is next to that of the governor and although he is not an exco member, he

The northern aspirants Those vying for the office from the north are: Julius Okputu: The Yala born politician is a surprise entrant into the race given the fact that he was dropped by Governor Imoke from the cabinet in circumstances that many are still researching on. He is said to be prodded into the race by the governor himself. Although this has not been confirmed, a source said many close aides of the governor “who understand his body language” are already tilting their loyalty to the former Commissioner for Environment. Unless the governor is involved in his choice, Okputu lacks the needed resources to prosecute the election. Hon. Larry Odey: He is the current Speaker of the State House of Assembly. Only last week, he declared his intention to vie for the office to the 18 chairmen of PDP in the state. His relationship with the governor is described as cordial and this explains why the legislature and the executive have had it rosy in the last three years. When in 2012 Imoke’s election was annulled by the court, Larry Odey played the loyal servant by not only holding forte, but was also deeply involved in the re-election process. How will he feel if he does not secure the flag? He has the wherewithal to prosecute the election, but may not have overwhelming support as many people see him as pliable. He is from Yala in northern Cross River. Francis Adah: A former Speaker of the House of Assembly and currently a member of the House of Representatives, he is a close ally of the governor. Adah acted on the governor’s behalf in 2008 when an Appeal Court sitting in Calabar annulled his election. Imoke’s ouster resulted from an appeal by four opposition parties – the All Nigeria People’s Party (ANPP), the African Renaissance Party (ARP), the Action Congress (AC), and the People Progressive Alliance (PPA) – challenging the verdict of the Election Petition Tribunal on January 23, 2008 upholding him as being duly elected. Ever since, the relationship between the governor and Adah has been cordial. But can he be given a better attention by the governor above and over the present Speaker who also stood in for the governor in moments of his travails? The Obanliku-born politician has the wherewithal to foot his bill but he may have to contend with varied interest from his zone. Peter Ojie: He currently sits atop the Ministry of Local Government Affairs in the state. An erudite speaker, he was the Deputy Chairman of PDP in the state until 2011. His relationship with the governor is cordial but his interest may truncate this cordiality. The commissioner has enough money to spend C O N T I N U E D O N PA G E 1 8

POLITICS

Sanctity of Truth

Tuesday, March 18, 2014

Do you have any special relationship with Ekiti State? I have been in Nigeria for about a year and half and I have become a very frequent visitor to Ekiti State. As a matter of fact when my mother came to visit me in December last year, one of the places I had to take her was to the state. Why the focus on Ekiti 2014 and general elections in 2015? Today, our focus is on elections and obviously Ekiti has election coming up and democratic process in Nigeria in general. The United States takes democratic process extremely serious; we work closely with Nigeria which is a great country and it has a functional democracy. As a democratic friend of Nigeria, we are very interested in helping Nigeria on its democratic path. Is America seeing the Ekiti poll as a litmus test for the 2015 general elections? Obviously, the 2015 election is hugely important to this country, there are lots of things to work on and get right before this election takes place. February 2015 sounds like a long time from now but it is not, there are many things to do. In the meantime, in June, we would be having election here in Ekiti. The United States Government sees this election and that of Osun in August as important test cases for the 2015 exercise. So we plan to pay quite a lot of attention to that of Ekiti and Osun. We are here today and we have already met with Governor Kayode Fayemi, the Resident Electoral Commissioner and Commissioner of Police. We would meet with key candidates of different political parties while we are here. I’m going to do the same in Osun State. There are couple of key elements to our engagements and key messages that we would like to carry as friends of Nigeria’s democracy, and most important that Nigerians are entitled to free, fair and transparent elections. The Nigerian people deserve those elections and the first element to ensure those elections take place is preventing violence and ensuring that there is no violence in the contest. You can have the best electoral system, you can have great political parties, you can have a free and vibrant media, but if you have violence on election day that essentially ruins the entire process. So, our call is for no violence in election. The Ambassador, myself and members of this team are very interested in getting political figures to commit publicly to pledge of no violence during these elections. This is hugely important. Second part, which is also very important, is the technical conduct of the elections and particularly, my team is very involved in providing support to those elements in Nigerian democracy that do the technical work of elections, the Independent National Electoral Commission (INEC) and others. The US budget for governance and democracy assistance this year is $15 million and that is a very important contribution that the American people are willing to make for

US passionate about 2014, 2015 elections, says Consular-General As part of efforts of the international community to ensure credible governorship election in Ekiti State come June 21, United States Consular-General in Lagos, Mr. Jeffery Hawkins, led a team of American officials on a visit to the state. He later fielded questions from reporters. ADESINA WAHAB reports

very much interested in playing the supporting role to making sure that INEC do their job. We are also interested in playing the important international watchdog role, working closely with diplomatic missions, diplomatic partners and more importantly with international organisations and Nigerian civil societies. So, we are definitely paying a close attention. People are concerned about the atmosphere in which the election is conducted. What is your take on that? We see peaceful campaigns as a necessary precursor to fair and transparent election, that is an important part we have to get right. There have been instances in Nigeria’s electoral history, unfortunately, where violence has been used as a political tool. There is a precedence for that, hence our concern. I don’t think that we feel this particular electoral contest is likely to be more violent than the previous ones. But we understand the importance of security and peace to conducting election. That is why we make sure it is one of the elements that we are discussing.

Hawkins

the Nigerian people to support their electoral processes. Much of that money goes to exercises like helping INEC or working with civil society organisations, or working with political parties to increase transparency in democracy. We do hope for responsible behaviours on the part of the parties and participants in the election. If INEC does its job perfectly well, if the parties don’t behave properly, if they don’t conduct their part of the election honestly, if they are not trying to cut corners or cheat, things would work perfectly well in this country. We are very interested in seeing no violence, in seeing good technical election and in seeing political engagement on the part of parties and others. What is your assessment of INEC and the preparation for Ekiti and Osun governorship elections and 2015 general elections? Obviously, INEC is an essential part of the electoral process in the state. As I mentioned earlier, we are working closely with INEC, we have strong relationship with Prof. Attahiru Jega; we are in touch with him on daily basis essentially on the issues of providing for the election. We are also working very closely with the Nigerian government. We have a bilateral commission, an institution that allows Nigeria and United States to discuss matters of mutual interest at the very high level. We recently had a bilateral commission meeting on justice, and as a matter of fact, Jega devoted an entire day to that bilateral commission meeting. We are

The US budget for governance and democracy assistance this year is $15 million and that is a very important contribution that the American people are willing to make for the Nigerian people to support their electoral processes very proud to have that sort of dialogue with him. I observed the election in Ondo State and members of our team have been in subsequent elections including Anambra. It is clear that there are issues to be worked out and Jega himself was critical of some elements of INEC performance in Anambra election but we are determined to work closely, with INEC at the national level to ensure that everything is in place and the technical expertise is there to conduct good election and we are equally determined to ensure that the election takes place on good condition on election day. We would as a Mission be monitoring this election in Ekiti State in June and we would do that in Osun and in national elections. We would work closely with a range of civil societies and other organisations that do the same thing. We are

Will the US Government assist Nigeria to hold elections in the troubled North-East where there is insurgency? Obviously, it is very important that all Nigerians have the opportunity to vote in this election and to the extent that Nigerians are not able to do that the credibility of those elections will be damaged. Security again becomes a key piece in that. We are deeply disturbed by the security situation in the North. We condemn in a strong term the violence that Boko Haram has perpetrated there. As a parent of children that live in Nigeria, when I heard of the attack in Yobe a couple of weeks back, it was just absolutely against clear conscience. So, obviously the US is very concerned about security up there; we assisted Nigerian Government and its security forces and we spend several millions of dollars a year, with various types of training and in other engagement with them we declared Boko Haram a terrorist organisation. The United States Government has placed a $7 million bounty for information on the whereabouts of Shekarau, the leader of Boko Haram. And we are working closely with Nigeria in our bilateral commission on issues of security and terrorism. There is a great deal of exchange, dialogue and support from the United States on security issues. Ultimately, Nigeria has the responsibility to ensure the security of its citizens and to ensure that her citizens are able to vote. How do you hope to get the right information when election result comes out? We have our own people on the ground but as diplomats we can only be in a few places particularly when we are talking about national elections. But we have a C O N T I N U E D O N PA G E 1 8

16 POLITICS

Sanctity of Truth

Tuesday, March 18, 2014

Jega: Poor funding, obstacle to credible polls CO N T I N U E D F R O M PA G E 1 3

the two states with plans to do same in other parts of the country later. “These cards will be swiped with card readers in the 2015 elections to ensure 100 per cent verification and authentication of voters,” he said. He added: “Drawing from our experience in 2011, recommendations for improvement to the legal framework, especially the Constitution and Electoral Act, have been submitted to the National Assembly. A committee was set up to review the role of the commission in election-related litigations, and it has made far-reaching recommendations on improvements towards 2015. “A programme for the review of electoral constituencies and creation of additional polling units is on-going. We are unlikely to conclude the constituency delimitation exercise before 2015, but we will surely create additional polling units. All guidelines and regulations on the electoral process are being revised, and discussion has commenced with legal experts across the country on how to enact and gazette them. “A Graphic Design Centre has been established with support from IFES, which for the first time gives the commission the capacity to produce several election materials internally. An Election Risk Management Tool will be deployed ahead of the 2015 elections, with support of the African Union (AU) and International IDEA, to enable the commission to gather information about risk factors associated with the election; be able to analyse them and deploy effective measures to contain or mitigate them, towards ensuring peaceful and violence-free elections.” Funding challenge Although Jega expressed confidence about the prospects of having remarkably much better elections in 2015, he identified some key challenges INEC still needs to tackle to conduct credible elections. Funding was a major issue, as he noted that “the process that will guarantee free elections cost money, which is hard to come by.” The issue of funding would later take centre stage at the lecture when both in his speech and the general discussion that followed, Tambuwal raised the low budgetary allocation to INEC as a factor to guarantee failure in the elections. The Speaker, who was chairman of the event, said unless something was done about the funding challenge, Nigeria may need to prepare for something else. His words: “Now the 2014 Appropriation Bill is before the National Assembly and talking about a truly independent INEC, you need to fund the electoral body to be able to carry out its all-important assignment of conducting election. “However, what we have presented before us as the total sum required by INEC, according to the Budget Office, is N45 billion whereas INEC itself is requesting about N63.8 billion for the proper conduct of that election. This is what INEC is seeking to conduct free, fair and credible

than N45 billion. So, how can you get N45 billion for the entire exercise? Like I said to you, when we had discussion with the Budget Office, we submitted the budget of N102 billion and yet N45 billion is what is submitted for us. We hope our engagement with government and the National Assembly will provide more funding for us to be able to do a good job.”

Tambuwal

Akanbi

Budget was actually a fraction of what we need to conduct that election. If we have to keep on improving the integrity of the election, we also have to incur necessary expenditures in that process elections. We have before us the proposal of N45 billion instead of N63.8 billion. Therefore, there is a deficit of about N19 billion. Unless and until we are able to meet up and give INEC as a government what is required, then we are about preparing... don’t read my body language.” Jega expressed concern that while his team at INEC submitted an estimated budget of N102 billion for consideration in the 2014 budget, the Budget Office, which first took a look at the preparation before it was presented to the National Assembly, scaled down the estimate to a mere N45 billion. The INEC boss said the amount approved is not enough to finance the procurement of purely electoral materials and electoral activities alone outside of payment of allowances to ad hoc staff to be engaged by the agency. He, however, expressed the hope that the National Assembly will have to bail out the commission. His words: “On the question of the budget, I must say it is a serious challenge. What the Budget Office presented as an envelope, we had a prior discussion before that envelope was brought to the National Assembly. “As Mr. Speaker rightly said, that budget was actually a fraction of what we need to conduct that election. If we have to keep on improving the integrity of the election, we also have to incur necessary expenditures in that process. We have to engage ad hoc staff, we have to pay them

Salami

allowances, we have to transport them or give them transport allowance; we have to provide what we call lunch allowance to security agencies; we have to procure ballot papers with security details and we also have to procure result sheet in addition to ballot papers and ballot boxes and all those non-sensitive materials that are required to hold elections. “And our requirements are far, far in excess of what is in the law. What keeps us optimistic is that in 2011, both the National Assembly and the Executive have seen the need to provide appropriate funding in order to do a good election and we are hopeful that this recognition now will be made and funding requirements would be provided. “Anytime we mention figures about how much it will cost for election, we are put on the defensive. But since the Honourable Speaker has mentioned the figure, I am duty-bound to mention our figure. As I speak with you, when we saw the budget of N45 billion and we are asked to now provide the details of how N45 billion can be spent in our engagement with the relevant authorities, we said, ‘Look, N45 billion is not even sufficient for us to do necessary procurement between now and say November and to pay salaries and other entitlements of staff because all those are parts of this N45 billion.’ “The procurement for purely electoral materials and electoral activities alone outside of payment of allowances is more

Akanbi, Salami task Jega Akanbi, the pioneer chairman of the Independent Corrupt Practices and other related offences Commission (ICPC) justified the focus of the lecture on the experiences of Nigeria with elections and expressed the hope that Jega will engender public confidence in the outcome of the polls. He said: “We are all aware of the controversies that surrounded the last elections in Anambra State which compelled Jega to conduct ‘supplementary polls’. True as Jega said, there can hardly be a perfect election anywhere in the world but our clamour is that INEC should endeavour to achieve a near perfect election which will fulfil the aspiration of the majority of Nigerians and also ensure that in future elections there would be no repeat performance of what happened in Anambra State.” This view was also shared by former President, Court of Appeal, Justice Ayo Salami who also noted that until the system of one-man-one-vote is truly established in Nigeria, the much-desired peace, stability and progress may continue to elude the nation. “The quest to continually remain in power by politicians portends great danger to the polity as it forms the basis for disquiet and discontent on the part of the electorate which often times lead to social unrest and upheaval.” He warned that before elections can be free and fair, INEC must be seen to be above board, responsible to no one but God. “The duty of an umpire is to tend the rope and not to descend into the arena otherwise its vision will be blurred by the rising dust,” he warned. 2015 and future of Nigeria Tambuwal also used the occasion to dwell on raging fears about the possibility of Nigeria’s break-up based on permutations about the outcome of the elections. Several voices from the North and South-South have been speaking daily that if President Goodluck Jonathan wins or loses, depending on the ethnic background of the speakers, then Nigeria will break. But Tambuwal dismissed such fears and blamed ‘politicians and ethnic jingoists’ for overheating the polity on the eve of every general elections. He said: “The 2015 elections are by the corner and already there is so much talk about how the conduct of the elections can make or break not only our democracy but out unity. Let me say here that the unity of this country does not depend on the outcome of any election. We have moved C O N T I N U E D O N PA G E 1 7

POLITICS 17

Sanctity of Truth

Tuesday, March 18, 2014

How does the Peoples Democratic Party (PDP) win the governorship elections Ekiti and Osun in a few months’ time? You can see what happened in Ondo. You skipped Ondo and you’re looking at Ekiti. In Ondo State, we started very late, remember we were in court up till the last minute, but we beat the All Progressives Congress (APC) at the polls. Whoever thought it, and we did not have one-tenth of the money the APC spent but we beat them at the polls. That in itself should show Nigerians that when it is on a one-man-one vote basis, the APC does not go down with the people of the South-West. We are putting our house in order and I am glad that people are already seeing the outcome of our efforts.

PDP on course to reclaim South-West, says Doherty Engr. Adedeji Doherty is the acting National Vice-Chairman (South West) of the Peoples Democratic Party (PDP). In this interview with WALE ELEGBEDE, he speaks on the reclamation agenda of the party in the zone. Ogun today, you don’t even have any factionalisation because some of those who are aggrieved have gone to APC, some to DPP, some have gone to Labour, but the PDP still stands as one and what we have witnessed is a phenomenal influx of people in Ogun state. In Lagos State we have almost the same thing; before we had the Ogunlewe group, the Bode George group, the Obanikoro group, we had Dr. Finnih group, we had the Baba Shitta group and all kinds of groups, but today, we have PDP that is united in Lagos State, the only thing is that we have unions and establishments. But they have orientated themselves to the extent that winning an election will become much easier.

What is the place of the former President Olusegun Obasanjo in the whole equation of reconciliation that you are embarking upon in the South-West? As far as he is concerned, Chief Olusegun Obasanjo is our leader, he’s the leader of all the parties and that is the way I look at it and that is the way I want to look at it because the APC comes to him, the PDP comes to him, all party chieftains come to him. Yes, he was once a president and remember that he is one of the most nationalistic presidents that we have ever had and as such he affiliates with all parties because the structures of those parties have passed through his tutelage. So, he’s now being forced to become father of all and he cannot run away from it and even though we don’t like it in PDP, we are greedy and very jealous about keeping him to ourselves but this is a man who belongs to the whole country. So, there is nothing we can do about it. That is his fate and his calling. Doherty

Don’t you think the South-West reclamation agenda of the PDP is a tall order given the taste of good governance the people in the region have had from the APC? First of all, you need to understand one thing and that is for every government you see, there is always a better government. Once we start on that premise, you can always believe that mistakes have been made in the past in terms of the PDP governors, but there are better candidates who are coming out in 2015, even from the 2014 elections and these candidates will definitely execute the manifesto of the party when they come on board. So, when you talk about the people warming up themselves and things like that, it doesn’t always follow that way, that does not mean that you can’t unseat a government or mean that there isn’t a better government somewhere. That’s my response to that perception. You would understand that the PDP has come a long way in terms of governance, in terms of mistakes, reorganisation, rediscovery of itself and we are moving forward as far as the South-West is concerned, as far as fractionalisation is concerned, it has reduced to the barest minimum, at least you don’t see members in PDP in Ekiti, in Oyo or any of these states accuse or attack themselves on the pages of newspapers anymore. That has reduced almost completely. Now factions have merged together, factions have been talking together. An example to show that this has reduced completely is the meeting that was held recently in Abuja a few weeks ago. We have a situation now in the party such that leaders are talking to each other, they might not like what each others are saying, they might not agree on a lot of things, but they are all sitting down. That is a good step towards achieving the desired goal. So, if you look at Ekiti right now, the aspirants are all coming together; some are coming in aligning with each other, some are still at crossroads with each other, but that is politics and it’s looking healthier everyday and at the end of the day, they can say we are not going for consensus candidate, we are going to go for primaries. About 12 of them have already bought forms, so you are going to have 12 aspirants contesting against each other at the primaries, which is healthy, one person will have to win. In Osun State, it’s the same. The state chairman went round when all the aspirants that were declaring their interest, he was there, and leaders were there, party executives were there, so they have given everybody a level playing field. At the end of the day your fingers

are not the same; one would emerge as the winner. If you go to Oyo State, at a particular point in time, Akala didn’t want to see Akinjide, Akinjide didn’t want to see Teslim; as at today, they now sit down to talk, they might not agree with each other but they are sitting down and they are talking. The same thing in other states, in Ogun State, you see a lot of decampees coming into the fold, you see a lot of people who say they don’t want to go to the APC, they don’t want to go to Labour Party or the DPP, they are all coming into PDP. So in

The PDP has come a long way in terms of governance, in terms of mistakes, reorganisation, rediscovery of itself and we are moving forward as far as the SouthWest is concerned

You said the PDP has done enough to eliminate factions, what about groupings especially in the South-West. In recent times, after the meeting in Abuja, there seem to be another grouping of network. Are they rivalling the structure of the party? What I would say about this is that, for example, in APC in Lagos State, you have the Muiz Banire group, you have the Hamzat group, you have the Ganiyu Solomon group, you have the Babatunde Fashola group where you have Babatunde Oganla and co, you have the Bola Ahmed Tinubu group, so grouping is a normal phenomenon in party structure. The most important thing is that they are all going towards the same goal which is to win elections. So, when you see such, they are not working against the PDP; they are working for the PDP. So, whatever the situation is, it’s a plus. The only thing is that they should do their job well so that we can achieve what we want in the state. The grouping of network PDP is not a new thing, what should come out of it is that they should be passionate, they should be ready to take it on and achieve progress within the party; they should use it to uplift the party and achieve good in the party. Let them extend welfare to the party. Once this is coordinated in the network groups of the party, I think it would assist the PDP in those states to achieve what they want. We have different groups; we have the mobilisation and organisation committee, headed by Prince Buruji Kashamu, they have opened offices, they are doing a lot of empowerment, they are assisting the people in the different communities, they are empowering people, they are portraying the party up to the grassroots level. So, if network PDP can do the same thing, then there would be impact at the grassroots. I believe that it would enhance and bring more people into the party.

Jega: Poor funding, obstacle to credible polls CO N T I N U E D F R O M PA G E 1 6

past that. “Since 1999, it seems that every time we have an election coming, politicians and ethnic jingoists overheat the polity unnecessarily and cause a lot of tension and fear in the land. We must stop seeing everything as the end of our union. “We must all imbibe the democratic culture. The idea is that power belongs to the people and it is their sovereign right to determine who governs them. We must learn to respect the wishes of the people, however much it goes against our personal ambitions. “This country belongs to all of us

equally and we must learn to obey the rules of democracy. Nothing is gained by threats and counterthreats, and democratic mandate is not gained by force or coercion. If the desire to win election is strictly based on our wish to take care of the people’s needs and not to satisfy some selfish desires of our own, then we should allow the people to choose who they want in an atmosphere devoid of fear or rancour. “There is no doubt that the coming elections will have critical bearing on the growth of our democracy. A fraud-free election is therefore a big step towards restoring the people’s confidence in the

electoral process and deepening democracy. It will also give conclusive proof of our ability to face the challenges of nation-building.” Kwara State governor, Abdulfatah Ahmed who was represented by his deputy, Elder Peter Kishra shared the same view with Tambuwal. He also applauded the commitment of Justice Akanbi to the continued existence of a corporate Nigeria. He said: “The massive support accorded this two-in-one ceremony with a central focus on democracy and good governance represent a clear attestation to the fact that there is no alternative to democratic government.”

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

but the odd against him is thick. He seems to have his own mind and this may stand against him. Beside, many say he does not have a strong structure in Ogoja where he comes from. Francis Bulem: His interest has jolted many because of his huge financial muscle. He was a one-time zonal manager of Skye Bank and now oversees the State Board of Internal Revenue as chairman. Never known to be a core politician, the Ogoja-born banker has a close-knit relationship with the governor. But with many of his friends angling for his seat, the governor may not help him. Bulem may make an impressive showing at the primaries, but that may be the terminal point of his effort. Legor Idagbo: The former Chairman of Obanliku Local Government Area was in late 2012 drafted to oversee the Ministry of Works in what many people thought was to prepare him for the governorship position. In fact, many insinuated that he was given the juicy portfolio as a means of empowering him. Up till last year, Legor Idagbo, who is alleged to be Mrs. Obioma Liyel Imoke’s (the governor’s wife) candidate, was seen as a possible replacement. However, there are new developments which may not work in his direction. The new thinking is that the Obanliku former chairman is inexperienced to run the state. Prof. Benedict Ayade: Ayade has always been mentioned anytime there is an impending governorship election. The senator has continued to initiate welfare programmes for the people of his senatorial district, including a transport scheme. The Obudu political gaffer has sponsored many students on schol-

Sanctity of Truth

Tuesday, March 18, 2014

Friends, associates scramble for Imoke’s seat

Agba

Okputu

Bassey

arship and people in the zone are disposed to him. But he will have to work hard to convince the governor that he will be a subjective leader if picked. He is loved by his people and is generous. Ntufam Fidelis Ugbo: The former Secretary to the State Government who currently serves as the Executive Secretary, National Planning Commission is from Obanliku Local Government Area. In fact, up till now, many still believe that Ugbo is the governor’s candidate. He is an experienced administrator and Imoke’s right hand man, but those who kick against his candidature say he is a conservative to the core and lacks the presence of mind to say “no” to the governor.

Goddy Jeddy Agba: He is the General Manager (Crude), NNPC. His entry into the fray has allegedly pitched the Senate Leader, Senator Victor NdomaEgba against the governor. He is from Obudu and is said to be an astute administrator. Until his informal declaration of interest, many thought the relationship between his father, Chief J. D. Agba, and the governor was rosy. The Obudu monarch is the longest serving monarch in the state. Imoke’s reason for not wanting Agba is that he has been far removed from the state and will not understand his vision for Cross River, let alone carry it through. However, Imoke’s former campaign manager

and immediate past Commissioner for Environment, Dr. Sandy Onor, who has been conscripted to head the campaign team of Agba has consistently insisted that the state should be handed over to somebody who will not pilfer the purse. Although the Senate Leader and Imoke have refused to speak on the alleged strained relationship, political watchers have since noticed cracks. With several of his friends and associates who are presently in his government or have left, interested in succeeding him, Governor Imoke has an uphill task anointing a successor. The people of Cross River are eagerly waiting for the governor to decide.

US passionate about 2015 elections, says Consular-General CO N T I N U E D F R O M PA G E 1 5

tremendous and hugely important force multiplier in Nigerian civil societies, there are a number of Nigerian organisations that observe elections and they can’t be nearly everywhere. The political parties have a very important role to play in that as well. Obviously, they are self-interested, but in a system where they are all behaving responsibly that self-interest works in our favour, because they are all watching each other and making sure there is no funny business going on. We are relatively confident that as the election takes place, before, during and after, we would have a good reason to base our own information on the information we get from international organisations, but above all based on information we get from Nigerians. What is your take on people voting in open places as a result of lack of permanent designated places for elections? In the United States, we don’t have designated polling places, it is ether you vote in schools or church or fire department or something like that. That is not the practice in the US. As long as INEC is doing its job, the political parties are doing theirs and civil societies are playing their roles, I’m perfectly comfortable with election taking place under the trees. Is the $15 million grant for the Ekiti, Osun

You can have the best electoral system, you can have great political parties, you can have a free and vibrant media, but if you have violence on election day that essentially ruins the entire process

Hawkins

and 2015 general elections? The $15 million covers a range of activities. To focus on government, focus on democratic process, a considerable amount of that goes to specific democracy programmes and workings of INEC to ensure that they have all the support they need for technical implementation of elections. Part of that money goes into training civil society monitors, groups that are going to watch the electoral process, and to ensure that they have the network and support that they need to do their jobs.

And part of that money will go into political parties to help encourage internal democracy within the political parties because that is important too. Other parts of that money goes into encouraging state/ local governments to communicate well with its citizens. But all these fit into democracy and governance package. How can INEC tackle technical challenges on election day? Nigeria is a big country and running an election in a country this size, with the infrastructure and other challenges, it is difficult and we see that even on a state level, there are challenges. When you multiply that with 36 states and Federal Capital Territory, you are talking about a huge undertaking that will challenge

even the most sophisticated operation. We have confidence that if the leadership of INEC is serious about what they are doing, and if they are asking for help at the right moment, if our intervention can be helpful, we believe that the election can be conducted. We are committed to supporting INEC. The media also have a terribly important role in this. All of you know that there are specific windows for the permanent voters registration, the people whose names are not on the list to get themselves registered. For people who have turned 18 since the last election for them to get registered too. Specific dates, places and the way people are going to learn about it is through the media. You have a critical role in this process and without you it will not work. In what way are you supporting raising the consciousness of Nigerians on electoral matters? INEC has its own voters’ registration programmes and so do many of the civil societies that we work with as well. One of the real advantages of Nigerian democracy is that it has a great media, helping them raise that awareness. I think with our modest effort and contribution, the work of local, state and federal governments and above all the work of civil societies and media, we should have fairly educated electorate.

EDITORIAL

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Tuesday, March 18, 2014

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TUESday, MARCH 18, 2014

Giving education a fillip in Northern Nigeria

n a renewed effort to tackle the low level of education in the northern part of the country, governors of the 19 states have agreed to implement certain resolutions taken recently under the aegis of Northern Governors Forum (NSGF). According to Niger State Governor, Mu’azu Babangida Aliyu, these include abolishing school fees at the secondary level, harmonising fees paid in tertiary institutions, re-introducing the Grade 11 Teachers’ Training programme and closing the educational gap between male and female students in the region. Aliyu, who described education as the bedrock of development, said the governors have also resolved to establish schools of preliminary studies to prepare students for admission into tertiary institutions. He also revealed that a summit aimed at addressing all the problems associated with the growth and development of education in the region, especially the issues of Almajiri and falling standard of education, will be held soon. It is imperative to underscore the fact that eight states in northern Nigeria have the country’s worst girl child education and health indices, according to the latest findings by Africa Health, Human and Social Development Information Service, a group of nongovernmental researchers.

The report says Kebbi, Sokoto, Bauchi, Jigawa, Yobe, Zamfara, Katsina, and Gombe states have Nigeria’s worst girl child education, highest female illiteracy, highest adolescent girl marriage, highest under 15 child-bearing and highest risks of maternal death and injury. Moreover, the report underlines the links between poor educational attainment for girls, forced marriage of underage children, and under age child bearing. The 10 states with the highest number of girls not in secondary school are found in the North West, North East and North Central Geo-political zones of Nigeria, the report states. The five states from the North West are Kebbi, Sokoto, Jigawa, Zamfara, and Katsina while those from the North East are Bauchi, Yobe, Borno, and Gombe. Niger state is the only north central state in the category. The same 10 states, along with Kano state, have the highest percentage of females aged between 15 and 24 years who cannot read or write. We welcome the resolve of the northern governors to give education a boost in the region. For the new measures to be implementable, a lot of public enlightenment and related campaigns must be carried out. Apart from various advocacies from government and non-Governmental bodies, the governors must make use of religious leaders, community elders, opinion leaders and traditional rulers.

The governors will have to summon the political will to tackle problems militating against effective education in the Northern Nigeria, such as low enrollment at all levels of education, general decay of the infrastructure, grossly inadequate funding of education, serious shortage of competent teaching staff, lack of transparency in the running of educational management institutions, poor leadership in educational institutions, religious and cultural impediments to the attainment of education, poor performance of candidates and non-attainment of institutional goals and high rate of drop out of the girl child. Resolving these weighty problems will assist in improving the state of education in Northern Nigeria. It is also important that the region should set up a very well organized and coordinated monitoring and supervisory unit that will help in keeping a close tab on the state of education in the area as well as strengthening data utilisation and communication capacity, while improving the efficacy of the school census data collection system. If education can be made free in the Northern part of the country, it will only be normal and appropriate to make it compulsory too, and there must be stiff penalties for those who refuse for whatever reason not to put their children and wards in schools. It will therefore be criminal for any child of school

age to be out of school. Education in the country generally is nothing to write home about, according to the latest United Nations Education, Scientific and Cultural Organization (UNESCO) report, Nigeria has the largest population of out-of-school children in the world and Nigeria has some of the worst education indicators globally. As a matter of fact, ignorance is a disaster and everything must be done to stop this trend in the polity, especially in the Northern part of the country. Education is not only western, it is also traditional. Education is more than reading, writing and arithmetic proficiency. It is one of the most important investments a country can make in its people and its future and, it is critical to reducing poverty and inequality. Education has the power to make the world a better place, it is to this end, that we commend the governors of Northern Nigeria for their commitment to improve education in the region. We hope that this gesture will not just end at the level of rhetoric, but will be translated to concrete policy that will make education take a front role in the scheme of things in the region. But there must also be forward looking plans to provide employment opportunities, so that the frustration of non-employment on a massive scale will not become counter-productive. BOLAJI TUNJI Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALA Managing Editor, North GABRIEL AKINADEWO 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 BIODUN DUROJAIYE News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

Sanctity of Truth

Tuesday, March 18, 2014

OPINION The imperative of Jonathan’s second term Uche Ugboajah

he debate over whether the Nigerian President, Dr. Goodluck Jonathan, should or should not run for a second term in office, methinks, has given way to the issue of when he will declare his intention to seek a second term. It is interesting to note that many Nigerians have accepted the fact the President has a constitutionally guaranteed right to seek a second term in office. Those who had hitherto clung on the argument of a nebulous legal impediment in the way of the President seeking a second term in office are beginning to back down. Instead, Jonathan’s antagonists are now resorting to “moral” arguments to dissuade him from seeking a second term in office. And yet these moral arguments even recommend the President very strongly for another term. As a Nigerian citizen and one of the millions of voters who put Jonathan in office in 2011, I think that legalism alone should not be the criterion with which to justify the second term bid for the President. Yes, it is important that the law allows the president to seek the renewal of the mandate freely given to him by the Nigerian people. But more important than the issue of legality is a performance based justification. In other words, it is very pertinent to ask if the president has significantly delivered on the electoral promises he made to Nigerians in 2011 and on the basis of which the mandate he seeks to renew was given in the first place. In answering this question, perhaps the fairest method of assessing a political leader is by recourse to the leader’s own yardsticks – not with any external tape rule capable of whimsical stretching to any direction. It would be unfair to judge President Jonathan, for instance, by comparing him with President Obama, or even assessing his

performance based on the subjective evaluation of the opposition alone. The best thing to do, therefore, is to take the President to task with regards to the contract he entered into with Nigerians on the basis of which he was given the mandate to govern. In other words, what are those problems that the President promised to tackle if elected in 2011? While on the road in 2011 covering every inch in the vast country of Nigeria asking for votes, Jonathan made promises to transform the country politically, economically and socially. Breaking the promises down, the President promised to create jobs, build infrastructure and tackle the perennial problem of power supply. Although the President has come good in many other aspects, but by far his greatest achievement readily is in the area of political transformation. In 2011, the President promised Nigerians a new era of freedom for every citizen to attain the highest levels which nature, hard-work and qualification incline that citizen within the Nigerian state. This was encapsulated in the ‘grass to grace’ story of Goodluck Jonathan who was born in the creek of the Niger Delta where he trekked kilometres daily to attend school without shoes and who has risen to the highest office in the land as President. Having shattered the glass ceilings, the President, the first minority man to be so elected in a multi-ethnic country dominated by three major ethnic groups, has vowed to remove any inhibitions on the attainment of the dreams of his countrymen and women. It is true that citizens are more likely to connect emotionally to their government through such mundane issues as the provision of good roads, potable water and reliable means of transport, etc., but the environment of freedom to enjoy these amenities, is sine qua non. This is the reason some of us are not swayed by this superficial definition of democracy

dividends in our system in terms of bridges built and roads tarred. As it is well known, there is really nothing spectacular in doing these things because even the worst kinds of dictatorial regimes have good records in this area of governance. Pinochet perhaps built more roads and bridges in Chile than any other regime. Similarly, General Sani Abacha has the record of building in Gwarimpa, Abuja, what is regarded as the largest residential estate in Africa. Yet when the history of democracy is chronicled in Africa and the Latin America, these two leaders are pitched as enemies of their people. And this is because these leaders chose to trample on the rights of their peoples for their own arbitrary pleasures. President Jonathan set out on the right path when he elected to open up the political space by tackling headlong the problem of credible elections in the country. Before now, our experience with elections is such that the last election is seen as worse than the one preceding it. And the less than credible elections which were imposed on us by the past regimes robbed Nigerians of their rights of choice in the matter of who governs them; and, on equal barometer, robbed our leaders of the legitimacy so desired for effectiveness in office. It was a kind of double jeopardy. But by doing the straightforward thing of going for a credible chairman of the election management body INEC in the person of Professor Attahiru Jega, Jonathan, even at the risk of losing his election, showed his hand as a strong democrat, an advocate of free choice, promoter of freedom and personal liberties. By his courageous cleaning up of the electoral process, Jonathan has restored dignity to our elections and conferred legitimacy on the leaders as representatives of their people. •Ugboajah, writes from Abuja via cugboajah@yahoo.com

‘Religionalisation’ of presidential politics (2) Olubunmi Adetunmbi

he President needs to be called to order quickly in order to avert a potentially divisive situation in the ever tense ethno-religious country like Nigeria. As canvassed by no less a religious figure than President of the Catholic Bishops Conference, Ignatius Kaigama, the President needs to stop forthwith his politically motivated visits to churches and the usage of Church pulpits to indirectly request for votes of Christians. Bishop Kaigama is not just a lone voice in this call. A prominent clergyman, George Ehusani puts it succinctly “I think that the current President is mixing politics with religion. He is the President of the whole Nigeria; he is not only the president of Christians. He is a Christian who is President but while a Christian is President in a country that is 50% Christian and 50% Muslim, you have to be careful.” For the church, it is time to take up the gauntlet against this subtle presidential onslaught on its age-long inde-

For the church, it is time to take up the gauntlet against this subtle presidential onslaught on its age-long independence pendence. It is wrong for the President to bring the soapbox into the church. I also don’t think Pastors should allow their pulpits to become public policy platforms for politicians, it contaminates the gospel. The sanctuary is a hallowed chamber and should not be debased by politics of transient power. This is a desperate bid of a Christian politician to use the church for a subtle endorsement without reference to the capacity to perform and deliver welfare to the people as Jesus Christ did by feeding the multitude, healing the sick and giving hope. The President should be encouraged and advised to rise above partisanship and religious bigotry and

scale up to the status of a statesman. The burden of personal desires and the clamour for power is real and it takes the grace of God to rise above these. The President should ask God for this exceeding grace to overcome self and all primordial desires that do not edify him, the church and the nation. No one should commit the error that my views are ‘anti-Christian.’ No! Far from it! I am a confessed believer in the Person and the Divinity of Jesus Christ and He constitutes the centre of my being and hope for eternal life. I therefore consider it degrading to the status of Christ to be dragged into the politics of temporal power in a manner that excludes people of other faiths that Jesus gave His life for. And if Mr. President feels he must continue on his religious trail, I enjoin him to visit Pastor Tunde Bakare’s Latter Rain Assembly, he should also extend his worship to churches in Yobe, Adamawa, Borno and Benue states. If Mr. President cannot worship with the Christian community in these volatile states, then he should stop henceforth this obnoxious religious

campaign. On a final note, from the accounts in the Holy Bible, Priests took messages of God to kings of nations and read riot acts to them through the famous quote, ‘Thus sayeth the Lord God.’ Ironically, we are now faced with the situation where an un-ordained person climbs the altar of God to say “Thus sayeth the President”. This is a reversal of spiritual protocol as we know it in the Holy Bible and this is a subordination of spiritual authority of Priesthood to the temporal powers of the President. Indeed the President needs to be careful in his new found vocation. His decision in the coming weeks will determine if Nigerians have a President who shares the yearnings and aspirations of all Nigerians irrespective of tribe or religion or a leader who quickly retreats into his religious or ethnic enclave to achieve transient political gains. This is not exemplary leadership and clearly not the mind of Christ. • Senator Olubunmi Adetunmbi is Senator representing Ekiti North and also the Vice Chairman Senate Committee on Interior

OPINION 21

Sanctity of Truth

Tuesday, March 18, 2014

Sanusi, The New York Times and intellectual racism Sufuyan Ojeifo

uspended Central Bank of Nigeria governor, Sanusi Lamido Sanusi, is a man that can put a canary to shame. Even when he has nothing new or meaningful to say, he must seek out a journalist somewhere and sing his heart out. As such, it surprises nobody that he has been rehashing some of the inconsistent songs he has been singing in the last few months to The New York Times. What is noteworthy, however, is how The New York Times allowed itself to become a platform for peddling Sanusi’s views without making any effort to reflect Sanusi’s inconsistency and unreliability. While it is possible that the newspaper suffered a lapse of editorial judgment, the poor journalism exhibited by the newspaper smacks of intellectual racism. To be clear, the issue at stake is not whether The New York Times should have published its recent article (culled by The Nation of Wednesday, March 12, 2014 and a number of other national newspapers) largely reflecting Sanusi’s opinions. Even though the newspaper obtained a quote from presidential spokesman Reuben Abati in an ostensible attempt to balance its article, what stood out was the lack of a requisite background that would have properly contextualised Sanusi’s views.

For The New York Times to have taken as gospel Sanusi’s views on the $20 billion purportedly missing from the Nigerian National Petroleum Corporation (NNPC) without reflecting the number of times Sanusi’s figures has changed is a disservice not only to the newspaper but the ideals of good journalism. It is important to recall that in September 2013 Sanusi wrote to President Goodluck Jonathan alleging that $49.8 billion from the sale of crude oil was missing. He later said he’d made a mistake and that the actual figure was $12 billion. In February 2014 Sanusi’s figure changed to $20 billion. The question that naturally arises from this is: how would The New York Times have presented the article it did on Sanusi if the Chair of the US Federal Reserve System flip-flopped in the manner that the suspended CBN governor did? It is an incontestable fact that a banker who is flippant with figures simply cannot be credible. Consequently, the failure to reflect that Sanusi is inconsistent with figures, and as such cannot be relied upon— whether in the court of law or the court of public opinion—is the great undoing of The New York Times article. To further diminish its stature, the newspaper related in its report that, according to Sanusi, President Jonathan doesn’t want him to bring out any more information that would get the administration into trouble. This is unfair to say the least. President Jonathan, as everybody

For the avoidance of doubt, the FRCN report listed infractions ranging from tax evasion by all staff of the CBN knows, is the most liberal president Nigeria has ever had. Moreover, everybody in Nigeria is equally aware that nobody can stop Sanusi, being the canary that he is, from singing, even if all he does is to keep flip-flopping when it comes to figures. To put this matter in the most lucid way, The New York Times showed great contempt for Nigeria and Nigerians by failing to hold Sanusi to the same level of responsibility in fiscal precision as it would the Chair of the US Federal Reserve System. The newspaper is, in effect, saying that the Chair of the US Federal Reserve System must be sure of figures before going public with them, but the governor of the Central Bank of Nigeria can play with figures all he wants because he is a lesser intellectual being. This is a grievous insult to Sanusi—even if the man in his eagerness to outperform all canaries do not realise this—and all Nigerians. It is also important to note that, for The New York Times to dismiss the many infractions listed by the Financial Reporting

Council of Nigeria (FRCN) against Sanusi by saying he may have “sidestepped civilservice rules” is to raise the possibility that the article was a sponsored foundation-laying report aimed at tarnishing the Nigerian government. For the avoidance of doubt, the FRCN report listed infractions ranging from tax evasion by all staff of the CBN—due to the institution’s failure to implement the provisions of the Personal Income Tax (Amendment) Act 2007 under Sanusi’s watch—through billions of naira spent on spurious subheads such as ‘Lunch for policemen’, to more billions purportedly paid to an airline that had no significant operations for over two years. These are just a few of the very specific and detailed charges against Sanusi’s stewardship at the CBN. Despite the attempt of The New York Times to present Sanusi as a credible source of information, the facts contained in the FRCN report paint a contrary picture. Apart from the shocking portrait of incompetence, financial recklessness, waste and outright fraud that the report revealed, everybody now knows that Sanusi’s CBN could not even observe the corporate governance practices which were the basis that Sanusi himself used in hounding several bankers like Erastus Akingbola and Cecelia Ibru out of their jobs. • Ojeifo, an Abuja-based journalist and magazine publisher, can be reached through ojwonderngr@yahoo.com

Revisiting the Oronsaye Report Adewale Kupoluyi

t is disheartening that Nigeria, being the sixth largest exporter of crude oil in the world, still has over 70 per cent of its estimated 170 million population tagged as being poor and living below the United Nations poverty threshold of $2 per day. It is in our country that more than 70 per cent of its national resources are channelled into running a government that is unduly large and cumbersome to manage, while leaving behind, less than 30 per cent for the execution of capital projects and debt servicing. It is still my dear country that continues to promote a bogus and corrupt system that can never bring about any development because we keep consuming and consuming and producing little. Our country is a nation that runs a bicameral legislature that is notorious for being the highest remunerated in the world, where the embarrassing high rate of unemployment is at the dismal bottom position and the attainment of all the known human development indexes such as the United Nations Millennium Development Goals MDGs by 2015, which is barely a year from now, remains a mirage. As a way out of the quagmire, the Goodluck Jonathan administration came up with the idea of setting up the Presidential Committee on the Rationalisation and Restructuring of Federal Government Parastatals, Commissions and Agencies, under the leadership of the well-respected, retired civil servant and former Head of Service of the Federation, Stephen Oronsaye, which at the end of their painstaking assignment, recommended the scrapping and merging of 220 out the existing 541 government agencies. The Oronsaye committee had proposed the reduction of the size of government to a manageable level and the streamlining of the operations of its various organs for

efficient service delivery and cost reduction. Not only did the Federal Executive Council met to deliberate on the report, a White Paper was allegedly produced while the Adamu Fika-led committee reviewed the report. Unfortunately, the Federal Government appears to have dumped the report, which recommended the drastic reduction in the number of government Ministries, Departments and Agencies, because the Medium Term Expenditure Framework and Fiscal Strategy presented by the Presidency to the National Assembly point to the fact that all the money-gulping MDAs were still provided for in the controversial 2014 budget to the tune of about N200 billion. This development is nothing short of a clear demonstration of the government’s lack of political will to implement policies that can impact positively on the economy as well as the polity. The two untenable reasons that had been given for the inability of government to implement the findings of the committee are: the money to be saved from the exercise is negligible and so does not worth the stress and secondly, the legal framework is not in place for its implementation. Certainly, the reasons are not convincing to any discernible mind and the mindset of many Nigerian that these MDAs are nothing other than wastages, economic burden and sheer duplication of bureaucracies and an avenue to create ‘food for the boys’ through other means. Then, if this is the case, why do we really need to waste money and precious time setting-up a committee when its outcome will never be implemented just like the Orosanye report is turning out to be? While the detailed work of the committee - that cuts across virtually every aspect of Nigerian public administration - deserves commendation, another look at the education component of the report - which when implemented, could bail out this critical sector from its near collapse.

These include the provision of compulsory and free education from primary to junior secondary schools for all school-age children in the country; the need for critical stakeholders, such as the National Council on Education, to make tangible efforts to revamp the falling standard of education in Nigeria; the imperative for state governors to be engaged, through the National Economic Council of State to drive the process and restore the standard of primary and secondary school education; professionalization of teaching; need for practicing teachers to undergo in-service training to enable them garner renewable teaching license; while teachers in privately-owned primary and secondary schools should be made to pass a qualifying examination before they are re-certified. The report also made case for an appropriation of funds for the management and development of schools, which should be allocated to them directly, rather than being warehoused at the Federal Ministry of Education, Universal Basic Education Commission and State Universal Basic Education Board; need for the restoration of a strong, aggressive, focused and professionalized Inspectorate Division that would facilitate the improvement and maintenance of standards in service delivery; and the institution of decisive and courageous leadership for the sector. With the government’s posturing, the report might have reached the end-of-the-road, meaning that we are still from overcoming our perennial and wasteful spending on bureaucracy, as the current deficit budget proposal before the National Assembly, indicates that the nation is set to spend N4.6 trillion while revenue profile is pegged at N3.7 trillion. One does not need any soothsayer before being told that the fiscal budget provides barely any reason to expect meaningful development in terms of either infrastructure or human capital this year.

• Kupoluyi writes from the Federal University of Agriculture, Abeokuta, vide, adewalekupoluyi@yahoo.co.uk, Twitter, @AdewaleKupoluyi

Tuesday, March 18, 2014

ARTS TUESDAY, MARCH 18, 2014

23 NEW TELEGRAPH

www.newtelegraphonline.com/arts

THEATRE

Human beings will begin to recover the moment we take art as seriously as physics, chemistry or money " ― Ernst Levy

WTD: NANTAP Lagos rolls out the drums, honours Mabogunje

Kolanut dance by the National Troupe of Nigeria

Tony Okuyeme

or her contribution to the development of live theatre in Nigeria, the Lagos State chapter of the National Association of Nigerian Theatre Arts Practitioners (NANTAP) will honour poet, live theatre enthusiast and art patron, Mrs. Toki Mabogunje as the distinguished personality WTD 2014. This is part of a two-day programme of activities to mark the WTD. Other activities include Advocacy walk, Nurturing and tagging ceremony of the 1st Entertainment Trees; and series of performances, as well as launching of endowment funds for NANTAP community theatre project. Initiated by the International Theatre Institute (ITI) in Paris, France under UNESCO for the celebration of Theatre Arts and its relevance in positive global development, the World Theatre Day (WTD) as declared by the United Nations

Eboigbe

Educational, Scientific and Cultural Organization (UNESCO) is celebrated on March 27 of every year. It is a period of celebrating the convergence of Thespians across the globe. Announcing this in a statement, the Chairman of NANTAP, Lagos State chapter, Ms. Eki Faith Eboigbe said NANTAP over the years has been at the fore front of the yearly celebration of ITD in collaboration with ITI and UNESCO. “Since 1990, NANTAP has joined the rest of the world in celebrating the World Theatre Day (WTD) which holds on March 27, every year. The celebration includes performances of all genres of theatre arts, recognition and awards to distinguished arts and culture ambassadors and a platform to project policy directions for the Nigerian art and culture sector. “In 2005, the Association introduced the celebration of the event around personalities who have distinguished themselves in the advancement of the Nigerian Project. Some of these personalities include Late Amb. Segun Olusola (of blessed memory), HRH Oba Abiodun Idowu Oniru, Oniru of Iruland; HRH Oba Sanya Dosunmu, Olowu of Owu; Chief Rasheed Gbadamosi, Prof. Tunde Babawale, D.G, Center for Black and African Arts and Civilization (CBAAC).” According to her, in continuing with this tradition, the Lagos State chapter of NANTAP will be celebrating Mrs. Toki Mabogunje, adding that the theme for WTD 2014 is "The Past, The Present, Our Future: The Renaissance of Nigerian Theatre in the 21st Century". The celebration begins on Wednesday

March 26, with Advocacy walks from NTA Compound to the National Theatre in collaboration with sister associations. This will be followed the same day with nurturing and tagging ceremony of the 1st ‘Entertainment Trees’ planted by NANTAP, Lagos, at the Mini garden of Queen Amina, National Theatre, Iganmu, Lagos, at 11: 00am. And on the following day, Thursday 27th March 2014, which is the WTD, there will be investiture of Mrs. Toki Mabogunje as the distinguished personality WTD 2014; Awards for Patrons of the Art, Culture Ambassador awardee and Certified Thespians , launch of endowment funds for NANTAP community theatre project, as well as lectures on the topics: Nigeria @ 100, How Theatre can help foster unity and a reorientation, to be delivered by Mrs Toki Mabogunje; and NANTAP @ 25 – The Landmarks, Achievements and A New Direction, which will be delivered by the immediate past president of NANTAP, Mr. Greg Odutayo. The events take place at Cinema Hall 1, National Theatre, Iganmu. Eboigbe explained that Mrs. Mabogunje has a great passion for Theatre, the literary Arts and Culture. “In 2011, she staged a dramatization of the DUET, her collection of poetry at the Muson Centre in celebration of her 50th birthday with a

Mabogunje has a great passion for Theatre, the literary Arts and Culture

view to encouraging and promoting arts and culture. The proceeds of the staged outing were donated to charity. She has brought her professional expertise to the development of stakeholders in the creative industries. Some of her professional activities in this area include running strategy sessions for organisations such as Goge Africa, Universal Studio of Artists, Communicating for Change, among others. “Mabogunje is a business consultant interested in the growth and management of small and medium enterprises on the African continent. As a business consultant, Toki has particular interest in business development, value chain development, project financing, strategic organization and management and the provision of legal and business advisory services to small and medium enterprises. Mabogunje has a degree in Law from the University of Ife (now Obafemi Awolowo University), Nigeria, a postgraduate law degree (LLM) in International Business Law from the University of Exeter, England, Executive Management Training in Strategic Organization and Management from Stanford University Graduate School of Business, California, United States of America, training in SME Policy Design and Project Implementation from the ILO Training Center in Turin, Italy, Value Chain Development Training from MDF in the Netherlands, Enterprise Development through value chains and business service markets from the ILO International Training Center, Turin, Italy and several other workshops and seminars all related to the growth and development of SMEs. She loves impacting positively on society and the communities she serves. In recognition of her contributions, various associations have bestowed Toki with various awards. Amongst these have been the outstanding volunteer of the year award by fate foundation in 2003, award by Volunteer corps in 2008, the outstanding mentor of the year award by idea Builders in 2009, an Achievement award by the Ghana Association of Women Entrepreneurs (GAWE) in 2009, the longstanding volunteer award for 10 years of dedicated service in 2010 by Fate Foundation, 7th Anniversary Award from Support Bridges Initiative 2012, Honorary award for High Impact 4 Creative Kids, Children’s day 27th May 2013 and Special Appreciation Award by Sickle Cell Foundation Nigeria 2013. She mentors young entrepreneurs and has done so with Women in Successful Careers (WISCAR), Idea Builders, Fate Foundation and Youwin.

24 ARTS

Tuesday, March 18, 2014

Ezekwesili.

D.J. Sax performing at the event

Coffee book, video documentary, for Unsung Heroines of Nigeria Ebere Ameh

he Nigerian woman has been described by different people at different fora as work in progress. This is most likely, the description that aptly captures their struggles and vicissitudes as they labour to educate their children, and by extension, that of the nation. Although, very few women have found their way to the top and a good number of young ones are aiming for the sky, those who made their movement possible and are still nurturing the human capital of this our great nation have remained largely unnoticed. They include the women who sell akara and roasted plantain to ensure that their children and others that they have adopted get a sound education; the village teachers and head-

mistresses who have nothing other than their knowledge and their cane, but have made a good number of people to become who they are today; and the mentors, volunteers, and innovators who do what needs to be done without expectations of recognition or gratitude. They are, in the words of the 2012 Future Awards Creative Artist of the year, Bayo Omoboriowo the unsung heroines of Nigeria who truly deserve a song. It is in the light of this he decided to rise to the occasion by searching for these women and celebrating them using the Unsung Heroines project. Omoboriowo disclosed that he was inspired to embark on the project after seeing the struggling women of Mushin community who are making great impact in their community doing the ordinary things

Oguntokun’s The Tarzan Monologues returns on stage W ole Oguntokun’s thought-provoking play “The Tarzan Monologues" returns to the theatre at Agip Recital Hall of the Muson Centre, Onikan, Lagos, on April 5 and 6, 2014, at 3pm and 6pm. Produced by the Muson Centre and Renegade Theatre, The Tarzan Mono-

logues is a magnificent portrayal of the World through the Eyes of Men. It interrogate issues about money, women, sex, religion, sterility, virginity, infant mortality, relationships, age, societal pressure, sexual abuse, marriage, infidelity, job loss, erectile dysfunction, among others.

Many of the women who have played laudable roles in the building of our great country are largely unseen and uncelebrated. It is as though they are singing for the deaf and dancing for the blind they do. The project which aims to honour ordinary women who are doing extraordinary things to improve Nigerian society will feature a Video Documentary of the selected unique women based on research and survey, a Word Document that clearly states the uniqueness in these women and Photographs of the women put together in a ‘coffee book’ which serves as a representation of their unparalleled energy. There will also be a National Tour to celebrate these women in their geo-political zones, award presentation, a mentorship, empowerment and development scheme, and an attempt at Guinness World Record for the world’s largest photo book to be titled ‘Energy Unparalleled’, the story of unseen Nigerian Women.

Mama Makoko, a woman who is singlehandedly training the numerous children in Makoko, Lagos, represented the heroines to be recognized. Already penciled down as one of the heroines, she came with some of the pupils from her school in Makoko. The Keynote speaker and project launcher, Dr (Mrs.) Obiageli Ezekwesili was on hand to unveil the dummy of the Coffee Book. So also was Mrs Pamela Schmoll, wife of the US Ambassador to Nigeria, Mrs. Margaret Orakwusi, Adefunmilayo Tejuosho of the Lagos state house of Assembly and many distinguished women who believe in the vision. Ezekwesili, in her speech, said that “many of the women who have played laudable roles in the building of our great country are largely unseen and uncelebrated. It is as though they are singing for the deaf and dancing for the blind. “The idea for celebrating them is not just to use it as a platform for empowering them to further strive and accomplish greater things in life, but also to make them a role model for a whole number of other women, who hearing their stories may be inspired to achieve even greater heights.” Citing Japan and Singapore that have no natural resources but are at the top of the global ranking of economies while many of the countries in the

continent of Africa, regardless of our resources, are at the lower cadre of the global economic ranking, she said it is because of human capital. “Human capital is not just the population of a country. Your population is still your population and not yet human capital until you have invested in your population. ...it is investing in their health, education and the social services that is required in order to unleash their innate potential. Investment in the citizen cannot afford to discriminate between investment in the men and investment in the women. Investing in the women is investing in girl-child education, and investing in the productivity of the girl-child is simply smart economics,” the former Vice President of the World Bank, (African) said. According to her, ensuring that girls have access to quality education is not just about transforming them to human capital, it is also about making them very effective decision makers. She said that when women are able to make decisions effectively, it has a very collateral positive effect. “She will make decisions that will be favourable to many in that community, starting from the household that she belongs and ultimately impacting the quality of life of the next generation.” Standing gracefully in her sky-blue Kaftan, Mrs. Schmoll mentioned some great women who did great things in other climes and praised the resolve of the Nigerian women and the vision to celebrate them. She noted that the country will not entirely blossom without investment in women. While DJ Sax entertained the audience with inspiring tunes, a panel of discussants, made up of eminent Nigerian women who are already making waves in their various fields of endeavor later shared the story of their lives as women on top of their games and inspired the people. The project which is billed to gulp a whopping 25 million naira on an austere budget and 50 million if otherwise is done for posterity sake and to inspire others to do even greater things. “We are going to travel all over Nigeria to find them; we shall make a book and a documentary of their lives and their impact to their environment. We shall travel, we shall spend, it will be difficult, but wherever they are, we shall find them,” the visioner, Bayo Omoboriowo intoned.

BUSINESS

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Tuesday, March 18, 2014

What's news Shell slashes $9bn capex from Nigeria, others Shell is cutting its 2014 capital expenditure from Nigeria and other countries where it has presence, company’s Chief executive, Ben van Beurden, hinted at the weekend.

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Nigerians’ electricity needs hit 160,000 MW per day Nigeria, which generates 3,500 Mega Watts (MW) of electricity, needs 160, 000 MW to meet the electricity development indices, a report has indicated.

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Oil ministry to spend N60bn in 2014 Ministry of Petroleum Resources has presented a N60 billion budget to the National Assembly.

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Task before new Minister of Aviation Nobody knows who the Aviation Minister would be. There are lots of permutations on who should be appointed substantive minister of a troubled Nigerian aviation industry. While many suggested that a technocrat should be appointed this time around to see if there would be changes to the way things were done in the past, others said it does not matter who is brought in to oversee the affairs of the industry.

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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) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

HURDLES Minister of Petroleum Resources, Diezani AlisonMadueke has outlined the global oil outlook and the challenge of piracy at the Gulf of Guinea. Stories by Adeola Yusuf

igeria losses $9 billion to pipeline vandalism and oil theft in the Niger Delta every month, the Federal Government hinted at the weekend. Minister of Petroleum Resources, Diezani AlisonMadueke, who said this in a presentation at the CERAWeek in Houston, United States of America, maintained that the loss to oil theft in the past three years has been as high as 100,000 to 300,000 barrels per day (bpd). Global estimates are that each month, pipeline oil theft is as much as $1.5 billion but the minister claimed that about 3000, 000 barrels of oil, which sells for over $100 per barrel, are stolen daily from the Niger Delta in the last three years. She said: “In Nigeria alone, oil theft in the past three years has been as high as 100,000 to 300,000 barrels per day (bpd). Enormous environmental risks and damage from spillage add to the costs. Theft and piracy require regional, continental and global coordination to track illegal money from crude oil theft.” According to the minister, a legal framework that is internationally binding is essential, as is the participation and cooperation of the international energy and financial communities. Measures in Nigeria, such

Chuks Onuanyin, Energy Nnamdi Amadi, Reporter

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

as the Pipeline Right of Way, have been enacted to make access to potential thieves as difficult as possible. “A new horizontal direct drilling system (HDD) has also been introduced, which calls for pipelines to be buried further underground,” Alison-Madueke said. “We have made some progress. Of course, as you make progress on one of the trunk lines that are being vandalised, the thieves or the vandals scur-

ry round to another pipeline to sabotage,” she said at an Honorary International Investors Council meeting in London. She added: “A key step in controlling the stolen supply was to work with other countries to dry up the market for the stolen crude oil. We need to encourage more private participation in the oil and gas sector, rather than the historical majority control by governments in developing countries.”

The Organisation of Petroleum Exporting Countries (OPEC) alternate president, laid out a global context for energy markets that focused on some of the challenges and uncertainties facing the economies of the world, and particularly those in developing countries. The Minister noted that more than half of the world’s fossil fuel demand ends up in fuel CONTINUED ON PAGE 26

L-R: Immediate past Commissioner, Accident Investigation and Prevention Bureau, (AIPB), Capt. Muhktar Usman; New Commissioner, Felix A. Abali and Head, Public Affairs, Mr. Tunji Oketunbi during the hand-over ceremony held at the Murtala Muhammed International Airport, Ikeja, Lagos….at the weekend.

US oil imports cut bullies Nigeria’s economy –Govt THREAT Indigenous oil companies now account for 10 per cent of oil production.

he Federal Government has acknowledged that the cut in the United States (US) oil imports from Nigeria

has bullied the economy. The US, which hitherto imported over 1 million barrels from Nigeria, has, due to shale oil exploration, cut over 60 per cent crude imports from the country. Vice President, Namadi Sambo, conceded this, at the 2014 annual Oloibiri Lecture

Series and Energy Forum organised by the Nigerian Council of the Society of Petroleum Engineers, in Abuja. Describing the Shale discovery in the US as one of the daunting global industry challenges facing Nigeria, he CONTINUED ON PAGE 26

Rates Dashboard

DELE ALAO, Brands/Marketing Editor Abdulwahab Isa, Finance Editor

ayodele aminu, Deputy Editor, business

Nigeria loses $9bn to oil theft monthly, says FG

WOLE SHADARE, Aviation Editor CHRIS UGWU, Capital Market Editor

Nigerian airlines’ slogans: Mere rhetoric? }p-37

INFLATION RATE February 2014..........................7.70% January 2014 ...........................8.00% December 2013.......................8.00%

LENDING RATE InterBank Rate. . . . . . . . . . . 10.75% Prime Lending Rate. . . . . . 17.01% Maximum Lending Rate. .24.90%

EXCHANGE RATE

(Parellel As at Mar. 14)

USD. . . . . . . . . . . . . . . . . . . . . . . N172 Pounds. . . . . . . . . . . . . . . . . . . . N282 Euro. . . . . . . . . . . . . . . . . . . . . . . N240

EXCHANGE RATE

(Official As at Mar. 14)

USD. . . . . . . . . . . . . . . . . . . . N157.74 Pounds. . . . . . . . . . . . . . . . . N262.27 Euro. . . . . . . . . . . . . . . . . . . . N180.76

26 business | news ACQUITANCE The Nigerian National Petroleum Corporation (NNP) said that the third parties have given it a clean bill of health on the alleged unremitted funds. Adeola Yusuf

he Senate at the weekend disclosed that it would conclude and come out with the result of the major review of documents presented by the Nigerian National Petroleum Corporation (NNPC) and other parties on the alleged missing $20 billion oil revenues this week. Chairman, Senate Committee on Finance, Senator Ahmed Makarfi, who said this, acknowledged that his committee now had many revelations on the funds. The committee, Makarfi said, would go "into technical session to review all the presentations and come up with their conclusions." Meanwhile, NNPC has said that the corporation was given a clean bill of health at the resumed sitting of the Senate Committee on Finance last Thursday. All the three institutions summoned by the committee over the alleged unremitted funds, NNPC said in a state-

‘Missing' $20bn: Senate ends NNPC’s probe this week ment by Dr. Farouk Ibrahim, confirmed NNPC’s claim of remittances to the federation account and third parties. "First to make a presentation was the Office of the Accountant General of the Federation, represented by the Director Fiscal, Mr. Salawu Zubairu, who told the committee that from their records, NNPC had remitted all the amounts due to

tanks, thus tying demand to the transportation sector. A growing need for transportation fuel in China and India will keep a support floor under overall demand, which is expected to rise from 89 million barrels of oil per day (bopd) to 97 million bopd by 2020, and 115 million bopd by 2040, according to the US Energy Information Administration (EIA). However, there are several issues that add uncertainty to long-term projections of world energy markets, including changes in economic growth rates of countries, debt downgrades, population changes, government-driven austerity programmes, and other potential issues, Alison-Madueke said. Outside of North America, tight oil production is expected to contribute only marginally to the global supply of oil, and it is important to developing countries to acquire and exercise the financial discipline neces-

be remitted to the Federation Account within the period under review. "He was followed by the Department of Petroleum Resources, (DPR), whose submission, made by Alfred Ohiani, affirmed that all royalties on crude oil liftings in the period under review was paid into DPR account with the Central Bank of Nigeria.

"The third parties, the JV partners, namely Total E&P and Mobil Producing Nigeria Unlimited represented by Chidi Momah and Olusegun Banwo respectively, also confirmed receiving the amounts stated by NNPC during the period under review," Ibrahim said. In his final presentation, the Group Managing Director of the NNPC, Engr Andrew Yaku-

L- R : Managing Director, British American Tobacco Nigeria Foundation (BATNF), Abimbola Okoya; Awardee, Mr.Kehinde Ajala; Area Head of Regulatory Affairs, British American Tobacco Nigeria (BATN), Mr. Sola Dosunmu, and Corporate and Regulatory Affairs Director Mr. Freddy Messanvi, during the 2014 British American Tobacco Iseyin Agronomy (BATIA) farmers’ productivity award ceremony held in Iseyin .

Nigeria loses $9bn to oil theft monthly, says FG C O N T I N U E D F R O M PA G E 2 5

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Tuesday, March 18, 2014

sary to underpin development in industrial sectors to sustain economic growth. Africa and other oil producing countries in the developing world need to shift from predominantly crude oil production to an integration of oil and gas production that emphasizes the natural resources of the country. Particular emphasis should be placed on power and industrial sectors and resources that help the economy to grow, and that fuel job growth, AlisonMadueke said. Technological advances both increase supply and lessen demand, she said, noting that while supply in shale formations will rise on advancing technology, demand will moderate on increased transportation efficiencies, including the growing use of electric and hybrid cars, and vehicles powered by natural gas and fuel cells. Alison-Madueke expects US and Canadian tight oil produc-

tion to plateau in the period between 2017 and 2019, based on information from the World Oil Outlook. A plateau in North America will result in the continued dependency in many countries for oil from the Gulf countries and Africa. “Any unrest in the supplying countries will continue to affect global prices,” AlisonMadueke said, adding: “an additional challenge was the issue of theft, kidnapping and piracy, which were becoming the norm for crude oil operations in some regions of the world.” Finally, Alison-Madueke noted that the population of the whole country needs to benefit from the country’s resources. She said: “Currently, a petroleum industry bill in Nigeria was out of ministerial control and in the hands of the national parliament. “The bill was designed to make the industry more transparent and accountable, and it calls for the creation of an independent regulator. The proposed legislation will give investors additional clarity and help promote a more competitive environment.”

bu, reaffirmed that all equity holders in the oil and gas value chain, including the Federation Account, were duly paid their revenue between January 2012 and July 2013. Yakubu commended the Senate for the opportunity to explain to Nigerians how the various streams of revenue flow from the oil and gas industry to the federation account and the other equity stakeholders involved in the petroleum business. “For us, this is a wonderful opportunity to give a detailed account of what we do, because like we always say, there is a huge misunderstanding about the industry. "Today we gave a clear and detailed breakdown of what we remitted to the federation account and to the third parties, which have been confirmed by all of them present here,” Yakubu said. The NNPC GMD solicited for collaboration with the media to correct the erroneous impression that money is missing, adding that the country needs direct foreign investment, stressing that negative reports send negative messages to prospective investors.

US oil imports cut bullies Nigeria’s economy –FG C O N T I N U E D F R O M PA G E 2 5

pledged to support the Nigerian Oil and Gas industry in its quest to square up against these challenges and compete for relevance in the international energy space. With the changing global demand and supply balance, the industry must, according to Sambo, begin to expand and grow processing capacity for local utilisation as well as export of finished products. The Vice President, who was represented by the Group Managing Director of NNPC, Andrew Yakubu, noted that government is ready to support the industry to join the shale gas revolution in the next decade. ``I have no doubt that we have the required capacity and competence to tackle these challenges. Government has been and is ready and willing to support your effort in this direction. There is no doubt that oil and gas have played a big role in

the economic development and transformation of our country over the last half century,’’ he said. Sambo noted that oil and gas has enabled the building of infrastructure and aided the development of other sectors of the economy and national life. ``We must therefore continue to maintain focus in doing the right things to transform the industry as to meet the new challenges of the next century,’’ he said. Fielding questions from the audience in the course of his presentation, Yakubu decried the spate of negative criticism and public misconceptions of the operations of the NNPC. He noted that such comments were not only unfair to the Corporation but come as a morale dampener to the thousands of staff in the NNPC who toil day and night to ensure that the country reaps bountifully from proceeds of its hydrocarbon resources.

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Sanctity of Truth

Tuesday, March 18, 2014

Shell slashes $9bn capex from Nigeria, others TOUGH TIME The Royal Dutch Shell would take hard decisions on the next phase of projects in 2014. Stories by Adeola Yusuf

hell is cutting its 2014 capital expenditure from Nigeria and other countries where it has presence, company’s Chief executive, Ben van Beurden, hinted at the weekend. The helmsman for the AngloDutch super major, who said this in its report, maintained that his company could, rather than increase spending, make $15 billion on asset sales from these countries in the next two years as it looks to rein in its growth ambitions. The company has already shortlisted Seplat and Glencor for its assets sale in Nigeria, where it planned to rake in $3 billion. “In 2014, we will make hard decisions about our next phase of projects,” chief executive Ben van Beurden said in the company’s latest strategic report, published on Thursday.

“Capital discipline and potential returns will be critical factors in deciding which to take forward to development.” Shell is cutting its capital expenditure from $46 billion last year to around $37 billion this year as it seeks to “moderate (its) growth ambitions” in order to free up cash flow. “It will be cutting its upstream Americas spending by one-fifth, as it has been impacted by losses in resource plays such as shale. “Shell is shrinking this portfolio and cost base, with 2014 spending to be reduced by 20 per cent compared to 2013, and redirecting onshore investment to the lowest cost gas acreage with the best integration potential, and into on-going exploration in liquids-rich shales. “At the same time, profitable growth should continue in deepwater and heavy oil, where an industry-leading development programme is under way.” He noted: “From 2014, tight gas and liquids-rich shale will have a different role in our strategy. We now see them as an opportunity for the longer term rather than the immediate future. “The target of $15 billion in

An operator of illegal refinery for stolen oil

non-core asset sales between 2014 and 2015 compares with $16 billion between 2011 and 2013. “We are reducing the number of these opportunities in our North American portfolio as we strive to improve our financial performance.” The North American upstream and integrated downstream businesses look set for much of the portfolio rationalisation activity. Shell had already said it intended to divest some if its North American tight gas and liquids-rich shale assets. The super major also reaffirmed its commitment to drill in the Alaskan Arctic, despite

TCN loses N1bn to 12 transmission towers’ collapse SHORTAGE The Transmission Company of Nigeria has incurred one billion Naira losses. Adeola Yusuf

lackout is looming in the Niger Delta as fuel tankers exploded and destroyed 12 transmission towers at Transmission Company of Nigeria (TCN)'s Sapele- Ughelli station. The TCN, which confirmed this incident, maintained that it lost one of its 330kV transmission lines from Sapele to Ughelli in Delta State and 12 towers

along the line route, to a fire incident caused by a petrol tanker, which caught fire between towers 88 and 89 at the weekend. The fire caused the melting and snapping of all the line conductors between the two towers causing, a loss of balance along the transmission line, swinging of towers, which resulted in their eventual collapse. Tower 81did not collapse but was bent by the incident. In a statement, the General Manager (Public Affairs) TCN, Mrs. Seun Olagunju, said that the loaded petrol tanker, which fell and caught fire at Ogborode Junction, near Warri in Delta State, destroyed the 330kV SapeleUghelli transmission line and

brought down TCN’s towers No 82 to 93 along its route." With the collapse of the 12 towers, TCN said that it has temporarily lost power evacuation from that line as all power generated by Delta and Sapele Power Stations would now only be evacuated through the second 500MW capacity 330kV transmission line from Ughelli to Benin. The transmission limitation notwithstanding, the company assured that the second 330kV transmission line from Ughelli to Benin and the 132kV transmission lines one and two from Benin to Ughelli, will adequately evacuate power generated from the power stations to Benin.

setbacks in the past two years. The company was already blocked from drilling in the Chukchi Sea off Alaksa after a US Circuit Court ruling went against it. Shell said this decision raised “obstacles to our plans for drilling offshore Alaska,” insisting that it “decided to suspend” its exploration programme as a result. “We will look to relevant agencies and the court to resolve their open legal issues as quickly as possible, and review our options in going forward. “If the legal and regulatory obstacles are sufficiently resolved, the next steps of our exploration programme will

be determined by the readiness of our offshore Alaska fleet and the timeline to secure necessary permits.” The Company had earlier released the confidential list of shortlisted bidders for its N480 billion worth of oil blocs and assets in the Niger Delta, which holds a large portion of Nigeria’s 37 billion barrels of reserves. Spokesperson for Shell’s subsidiary in Nigeria, Shell Petroleum Development Company, Precious Okolobo, confirmed to New Telegraph that the divestment of assets, which include the Nembe Creek Pipeline and stakes in the Oil Mining Lease (OML) 29, was ongoing.

Two abducted oil workers still in kidnappers’ den

wo captains abducted by gunmen operating in Nembe waterways, Bayelsa State, are yet to be freed. The gunmen, at the weekend, attacked two gunboats belonging to the Nigerian Agip Oil Company, (NAOC), where the two workers were seized. The gunmen suspected to be pirates, were said to have accosted the tugboat about 1pm last Wednesday. “The incident occurred at Peter Town in Nembe. The tugboats were on transit to Port Harcourt when the bandits double-crossed robbed them and whisked the captains away,” a security source who pleaded anonymity said. The source added: “The un-

known gunmen shot sporadically into the air, creating panic in the area before whisking the two captains away to unknown creeks. The victims must have been abducted for ransom.” The attacked boats were identified as MV EBIZAR and MV SOMKE. The names of the abducted captains were given as Mr. T. Monday and Mr. E. messiah. Monday was said to be the captain of MV EBIZAR, while Messiah was reportedly in charge of MV SOMKE when the bandits struck. When contacted, the Media Coordinator, Joint Task Force, Operation Pulo Shield, Col. Onyema Nwachukwu, said he had yet to be briefed on the incident.

28 BUSINESS | ENERGY ABSURD Over 120 million Nigerians are yet to have electricity connection from the national grid. Stories by Adeola Yusuf

igeria, which generates 3,500 Mega Watts (MW) of electricity, needs 160, 000 MW to meet the electricity development indices, a report has indicated. The report, which is published based on the rule of thumb for developed industrial nation, states that at least 1 gigawatt (i.e. 1,000 megawatts) of electricity generation and consumption is required for every 1 million head of population. Over 120 million Nigerians are yet to have electricity connection from the national grid, according to the minister of power, Professor Chinedu Nebo. The report obtained by New Telegraph, reads: “Nigeria is the most populous country in Africa. Its population currently stands at about150 million people and is expected to grow to 230 million by 2030. “The rule of thumb for any developed industrial nation is that at least 1 gigawatt (i.e. 1,000 megawatts) of electricity generation and consumption is required for every 1 million head of population.” The above, it continues, “shows that Nigeria’s power supply of 2,500-4,000 mw is grossly inadequate to serve the population. Ideal level is 160,000 MW.” It added: “Hence the privatisation of Power Holding Company of Nigeria (PHCN) to allow for the required massive private sector investment.

Sanctity of Truth

Tuesday, March 18, 2014

Nigerians’ electricity needs hit 160,000 MW per day “The electricity customers in Nigeria are now about 4 million people but the current Average Daily Power available per hour is less than 3hours. Whereas, the Federal Government of Nigeria (FGN’s) targeted 2020 energy available is 20,000 MW.” Meanwhile, stakeholders in the Nigeria Electricity Sup-

ply Industry (NESI), last week, agreed on the need to improve electricity supply to the consumers. Consumers have been complaining of epileptic power supply after several months of unbundling PHCN and privatising the power sector. The stakeholders that met

at the monthly meeting of the sector at the Headquarters of National Electricity Regulatory Commission (NERC), in Abuja, were of the consensus that electricity consumers are only concerned about electricity availability. Dr. Sam Amadi, the chairman of NERC, said the essence of the

Transmission lines of the Transmission Company of Nigeria (TCN)

meeting was the need to trash all inhibiting issues stifling the attainment of consumers’ expectations. The stakeholders that met were the NERC, the Chief Executives Officers of generation and distribution companies, market operators, system operator, the bulk trader, and the Transmission Company of Nigeria (TCN). The NERC Chairman/CEO, stated that the monthly meeting with new owners/operators was to identify issues on power and the challenges being faced by the new owners. He stressed that as the regulator, it has to keep abreast with the activities of the new power company owners. He said that the Commission in collaboration with the CEOs agreed to engage the Nigeria Gas Company (NGC) in a bid to find a lasting solution to the problem of gas availability for power plants. According to him, “we continue to encourage them to have better negotiation with the gas suppliers so that they can be provided with gas to run their plants”. Amadi stated that the Commission was very much aware that the CEOs are faced with several challenges, having inherited several problems but assured that the stakeholders in the Nigeria Electricity Supply Industry (NESI) are committed to improvements, not only in the short run but for a sustainable long-term.

Ofon-2 project: NCDMB, Total to meet ‘How NCSDC foils Kaduna over non-compliance with content Act pipeline vandalism attempt’ VIOLATION The NCDMB moves against Hyundai Heavy Industries (HHI), a contractor on the NNPC/Total Joint Venture.

otal E&P Nigeria Ltd (Total) declared at the weekend that it had received a notice of noncompliance with the Nigerian Content Act. The notice was issued by the Nigerian Content Development and Monitoring Board (NCDMB) against Hyundai Heavy Industries (HHI), a contractor

on the NNPC/Total Joint Venture’s Ofon-2 project. The company, which is the operator of the NNPC/Total Joint Venture said this in a statement. "Contrary to some recently published media reports, the board has not now and did not at any time, make a request or issue an instruction that the Ofon-2 project be shut down," it said. "Furthermore, the media report suggesting that there are only two Nigerians working for HHI on the Ofon-2 project is incorrect. "There are over one hundred

Nigerians currently working for HHI, which is just one of the contractors on the Ofon-2 project," the statment signed by Charles Ogan read. Ogan said: "Total will be meeting with HHI and NCDMB to ensure a timely and satisfactory resolution of the issues raised by the NCDMB notice." The Total Group operates in over 130 countries around the world and we and all contractors working for us are required to carry out all operations in a diligent and professional manner and in full compliance with, and respect for, all national laws and regulations.

he Kaduna State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has given a graphical detail of how it foiled an attempt to vandalise oil pipelines at Maraban-Jos in Igabi Local Government area of the state. State Commandant of the corps, Alhaji Zakari Ibrahim Ningi, who gave this detail, said that his command acted on a tip-off that vandals had invaded the area to carry out their criminal act. Officers of the command, he said, also arrested three

suspects and recovered an unregistered 33,000 litre DAF truck from the vandals. Ningi said on sighting the NSCDC anti-vandal operatives, the vandals took to their heels and abandoned the truck and the truck upon checks was found to have two compartments filled with AGO (diesel). He added that the truck and, its contents have been handed over to the Petroleum Products Marketing Company (PPMC), Kaduna, for decanting while investigation into the matter was ongoing.

BUSINESS | ENERGY 29

Sanctity of Truth

Tuesday, March 18, 2014

Another look at 10% oil production by local firms The daily oil production by indigenous companies in Nigeria hovered around 10 per cent at the weekend. About 230, 0000 barrels per day output is the peak the production by local players has reached since the beginning of Nigeria’s content drive by government. ENERGY EDITOR, Adeola Yusuf, looks at the challenges ahead.

efore last weekend’s declaration by the Minister of Petroleum resources, Diezani Alison-Madueke, that oil production by indigenous companies was now 10 per cent, the daily production statistics obtained by New Telegraph had revealed the strength of Nigerian companies. The statistics, which detailed all crude production from both the International Oil companies (IOCs) and the indigenous oil companies showed that the Nigerian Petroleum Development Company (NPDC) led the park of Afren, Seplat, Oando, Conoil, WalterSmiths, Brittania-U and other Nigerian firms to contribute about 10 per cent of the total production. For instance, in January, oil production from Nigeria, Africa’s biggest crude exporter, peaked at 2.55 million barrels per day out of which these indigenous companies contributed a staggering 255, 000 barrels per day. “The NPDC produced 140,000 barrels last week, the day that total crude production from Nigeria stood at 2.55 million barrels,” Managing Director, Victor Briggs, said, to corroborate the statistic, during a no-hold-bared media chat at the Benin Head office of the company. “Presently, the NPDC produces 140, 000 barrels per day (bpd) while we deliver 410 million standard cubic feet (scuf) of gas per day (mmscf/d). Our target is to increase this oil production to 160,000bpd by the end of this year and we also plan to raise the daily gas production to 600 million standard cubic feet (mscf/d) by end of the year. DPR bickers with statistics The Department of Petroleum Resources DPR had last March stated that indigenous oil companies accounted for only six per cent of Nigeria’s total crude production, while foreign oil companies accounted for 94 per cent. According to the DPR, of the total of 388 oil blocks in the country, Nigerians owned 90 blocks while foreigners owned 83 blocks. Speaking at the Nigerian Association of Energy Correspondents, (NAEC) 2013 Annual Conference in Lagos, Mr. Abiye Mebere, Petroleum Industry Bill (PIB), team Lead said that of the about 2.2 million barrel per day crude output, the local firms are producing about 220,000 barrels daily. Briggs represented membere at the

Alison-Madueke

forum stating that the increase in local companies’ output is as a result of their access to acreages, following ongoing reforms in the petroleum sector. He further stated that the passage of the Nigerian Content Development Monitoring Board (NCDMB), has impacted positively on the Nigerian oil and gas industry, and has helped grow indigenous participation in the sector. He said: “Stakeholder efforts in the mould of federal, state and local governments, Nigerian National Petroleum Corporation NNPC International Oil Companies (IOCs), host communities, among others, have also given support to the far reaching reforms in the oil and gas sector of which the passage of the NCDMB Act in 2010, is a success story. “Local participation has grown from less than 10 per cent to over 30 per cent in upstream operations with other spin off effects.” More than eight per cent “The production by indigenous companies is more than eight per cent “contrary to what some want the people to believe, it is about 10 per cent,” Briggs said, while showing the daily crude production report of Wednesday, February 5, 2014. In the same vein, Opuama field operated by NPDC has started production on February 4 following successful testing and commissioning of the field facilities, oil firm, Eland said. Production has recommenced through the successful re-commissioning of existing infrastructure and the re-opening of two existing wells, the firm added.

Gross output from the two wells is expected to stabilize at around 2,500 barrels of oil per day. The crude oil produced will be delivered to the Shell Forcados export terminal via the recently re-commissioned flow station and export pipeline, with a capacity to export up to 30,000 barrels per day. Opuama field, which has estimated gross recoverable 2P reserves of 54.2 million barrels, was in production between 1975 and 2006 before a controlled shut down of the facilities took place. Eland CEO, Les Blair, commented in a company statement: “The commencement of production on OML 40 has been much anticipated by management and investors alike, and indeed by all stakeholders. It is a testament to the dedication and hard work of all stakeholders in OML 40 and is a hugely significant milestone for Eland. “We look forward enthusiastically to the prospect of building on this pivotal turning point by materially increasing the daily production through the planned development drilling during 2014.” NPDC holds a 55-per cent interest in OML 4 0. The remaining 45-per cent is owned by Eland’s joint venture company, Elcrest Exploration and Production Nigeria Ltd. In some cases, in an average block size of about 1,000 kilometers, less than 20 per cent were explored. “In this case, the PIB provided for idle blocks to be worked within a certain time frame. This will, in a way, increase indigenous participation, as it will provide local firms with access to acreages.” All eyes on PIB Although many indigenous companies have been savoring the benefit of the Nigerian Content Bill, their achievement would be augmented by the passage and successful implementation of PIB. This will help sustain the gains of Nigerian content development, promoting local manufacturing, entrepreneurial development and incountry capacity and capability. The PIB is expected to help create a robust economic environment to attract investments; assure revenue growth beyond the short term; create strong and independent regulators to develop, and enforce open, fair and transparent rules in the oil and gas sector.

The roll call of Marginal Fields Operators Name of Company

Licenses.

Niger Delta Company

Ogbele (OML 54)

Prime Petr. Ltd & Suffolk Petroleum

Asaramaroru (OML 11)

Oriental Energy

Owok (OML 67), Ebok.

Universal Energy

Stubb Creek Field (OML 13/14

Eurafric Energy Limited

Dawes Island (OML 54)

Pillar Oil Limited

Umusati/Igbuku (OML 56)

Bayelsa Oil Company

Atala (OML 46)

Movideo E&P

Ekeh (OML 88)

Bicta Energy

Ogedeh (OML 90)

Guarantee Petrr & Owena Oil

Ororo (OML 95)

Platform Petroleum Limited

Egboma (OML 38)

Sogenal Ltd

Akepo (OML 90)

Chorus Energy

Amoji (OML 56)

Millennium Oil and Gas

Oza (OML 11)

Brittania U-Nigeria

Ajapa (OML 90)

Network E & P

Qua Iboe (OML 13)

Waltersmith Petroman & Morris Petroleum

Ibigwe (OML 16)

Midwestern Oil & Gas & Suntrust Oil

Umsadege (OML 56)

Independent Energy Limited

Ofa (OML 30)

Del Sigma

KE (OML 55)

Associated Oil & Dansaki Petroleum

Tom Shot Bank (OML 14)

Frontier Oil Limited:

Uquo (OML 13)

Energia Limited & Oando Prod. Devt Ltd

Ebendo/Obodeti (OML 56)

Goland Petroleum Devt. Company

Oriri (OML 88)

Excel Exploration & Production

Eremor (OML 46)

Sahara Energy & African Oil Ltd

Tsekelewu (OML 40)

Green Energy International Ltd

Otakikpo

All Grace Energy

Ubima (OML 46)

BUSINESS | ENERGY

Sanctity of Truth

Tuesday, March 18, 2014

$3.8bn project: LADOL accuses Samsung of breaching court order NEW TWIST The fourth defendant in the suite, the Federal Ministry of Petroleum Recourses, again failed to make representation at the court’s proceedings. Stories by Adeola Yusuf

he lingering litigation over a $3.8 billion Egina oil platform project between the Lagos Deep Offshore Logistics (LADOL) and Samsung/Total, last Tuesday took a fresh twist, following allegations by the plaintiff, LADOL, that the first defendant, Samsung Heavy Industries (SHI), had breached an earlier ruling by Justice Chukwu Jeku Aneke of the Federal High Court, Ikoyi, Lagos, that parties maintain status quo pending the determination of the suite. Counsel to LADOL, Professor Fidelis Odita (QC, SAN), had told the court that despite the court order of January 24, 2014, Samsung had, on February 27 and 28 2014, made presentations to the Nigerian National Petroleum Corporation (NNPC), of its plans to replace LADOL with another company as its third party local content partner for the project. The contract awarded to Samsung Heavy Industry and LADOL by Total for the inte-

NDPHC rallies investors for NIPPs’ Phase 2 bid rounds

iger Delta Power Holding Company (NDPHC) at the weekend rallied all credible investors to join its roundtable on National Integrated Power Plants (NIPPs) at the Power Investors Summit. The summit, according to a statement, is in collaboration with CPCS. The investors, the NDPHC said, could get the latest on NIPP's financial bidding rounds as well as sharing insights on the investment opportunities that will soon arise from Phase 2 of the NIPP transactions.

A Floating Production Storage and Offloading (FPSO) facility

gration of a Floating Production Storage and Offloading (FPSO) platform otherwise known as Egina project to be cited at LADOL base in Lagos, assumed litigation following alleged schemes by Samsung to exclude the indigenous firm from the juicy job. The development is coming as the fourth defendant in the suit, the Federal Ministry of Petroleum Recourses, again failed to make representation at the court’s proceedings. Others joined in the suite are, Total Upstream Nigeria Limited (Total), and the Nigerian Content Monitoring Board (NCDMB). Justice Aneke, who frowned at the alleged breach of his or-

SUPPORT Atlantic energy has given reasons for offering support for the Nigerian Oil and Gas (NOG) for the third consecutive year.

ver 1, 000 delegates from around the world have arrived Abuja, Nigeria's Federal Capital Territory (FCT) to channel a new course for the country's multi-billion dollars oil and gas industry. The delegates, who include World renowned petroleum specialists and investors, are in Nigeria for the nation’s Oil and Gas Conference (NOG), which has over the years turned out

der for parties to maintain the status quo, was apparently not taken-in by the defense counsel, Wole Olanipekun (SAN), in his claim of ignorance of his client’s presentation to NNPC. “If this allegation is found to be true, it is a very serious issue,” the Judge declared. The presiding judge however, adjourned hearing to April 16, 2014, following the ‘conditional appearance’ (appearance for the first time) of the counsel to the third defendant NCDMB Chidi Ilogu (SAN), who pleaded for time to enable him prepare and file certain applications he intends to bring before the court. Speaking with journalists af-

ter the hearing, Odita said the case at hand was an attempt for the first time, to test the efficacy of the Nigerian Local Content Act 2010, as it relates to its enforcement in the nation’s Oil and Gas Industry. “The contention of my client is that having been used by Samsung as the local content vehicle to win this major contract of $3.8 billion it is not open to Samsung to say that our client is no longer the local content partner. “What is even more perplexing in a case like this is that the contract allocated the sum of $214 million for the construction of facilities at LADOL. This 214 million dollars is part

of what Samsung is trying to put in the pocket and sabotage the Nigerian economy by doing so, we say that the court should not allow them to do so. “However, the Nigerian content monitoring board has just entered appearance and requires time to study the papers so as to respond to the proceedings, which has been issued. In this circumstance, we felt constrained to allow the court to step down the matter to 16th of April this year to allow the NCMB to take a position and also to enable the other defendant to file their own papers. So hopefully, this matter will come up for argument on the 16th of April but in the meantime, the court has emphasised to Samsung that it is not open to it to take steps to replace LADOL as the local content agent before the resolution of this matter because it came to our knowledge that on the 27th and 28th of February this year, Samsung went to the NNPC to make presentation trying to present a third party as the local content party. “What the Nigerian Content Monitoring Board set out to do in its frame work document is that where there is any major oil and gas project in Nigeria, that project should leave a legacy facility for the benefit of Nigerians and to create job for Nigerians. It is in that spirit that this Egina FPSO contract made the provision for $214 million for construction of the fabrication yard and integration of facility at LADOL.

CWC rallies 1, 000 World delegates for NOG to be the World Assembly of oil industry stakeholders in Nigeria. Co-CEO of Atlantic Energy, Scott Aitkens, who announced his company’s support for the conference in a statement, said: “NOG brings together all major stakeholders, and provides the appropriate atmosphere for those meaningful discussions and collaborations required to move Nigeria’s oil and gas industry forward. We are pleased to participate again.” In furtherance to its enduring commitment to the development of Nigerian oil and gas industry, Atlantic Energy, the statement said, is yet again supporting this year’s edition

of the Nigeria Oil & Gas (NOG) conference as a platinum sponsor for the 3rd consecutive year. The NOG is the largest oil & gas conference in sub-Saharan Africa, at the International Conference Centre, Abuja. The Nigerian oil & gas industry has experienced an increase in indigenous participation in recent years with the passage of the local content act. Atlantic Energy, through its Strategic Alliance Agreement with the Nigerian Petroleum Development Company Limited, the exploration arm of the Nigerian National Petroleum Corporation (NNPC), is helping to build indigenous technical capacity resulting

in increased production and improved gas supply for power. The Co-CEO of Atlantic Energy, Scott Aitkens, is scheduled to deliver a presentation on the March 9, on “Overcoming challenges and supporting the growth of independent, indigenous producers and service providers.” Aitkens said: “At Atlantic Energy, we believe that there are home-grown solutions to almost all the challenges facing the industry. Conferences like these, enable local players like us cross-fertilise ideas with one another with a view to devising solutions to transform the industry for the better”.

BUSINESS | ENERGY

Sanctity of Truth

Tuesday, March 18, 2014

RESEARCH The PTDF has put in place actions to file for intellectual Property Rights and Patency .

Stories Johnchuks Onuanyim

il exploration in the Chad basin will boost the Nigeria’s oil reserves which now stand around 37 billion barrels, the Executive Secretary, Petroleum Technology Development Fund PTDF Dr. Oluwole Oluleye, has said. Olukeye, who said this at the close out session of the 2011/2013 annual oil and gas research grant competition in Abuja, added that the discovery of oil in neighboring Niger and Chad Republic has given an encouraging prospect of oil discovery in the Nigerian sedimentary basins. He was optimistic that the development will boost the nation’s 37 billion barrels oil reserve. The PTDF boss also said that the research findings have been found to be commercially viable for patenting. According to him, the Fund

Chad basins exploration to boost Nigeria’s oil reserves –PTDF has put in place actions to file for intellectual Property Rights and Patency at the Federal Ministry of Trade and Investments for the research findings. The five research works are: The Control of Fine Migrations in Reservoir Using Nano Particles, carried out by Prof. Michael Onyekonwu of the Institute of Petroleum Studies (IPS), University of Port Harcourt; Fuel Briquettes and Biogas from Water Hyacinth–Cow Dung Mixture for Agro–Industrial Application in Nigeria by Dr.Frank Oroka and his team from Delta State University, Abraka; Data Base for Wellbore Stability Management in the Niger Delta” by Prof. Adewale Dosumu. Also included are his team from the University of Port Harcourt; Petroleum Potential of the Nigerian Sector of the Chad Basin Using Integration of Apatite Fission Track Analysis, Conventional Methods and Modelling” by Prof. John Adekoya and his

team from the Federal University of Technology, Akure; and Strategies to disseminate information on Non–Violent, Peace and Education by Crude Oil Producing Firms in Rural and Volatile Areas of West Africa: A Case Study of the Lower Niger Delta Region of Nigeria” by Dr. Charles Alfred and his team from the Delta State University, Abraka. "The research result on the Production of Fuel Briquettes and Biogas from Water Hya-

cinth Cow-Dung Mixture, Software Development for Wellbore Stability Management and Control of Fine Migrations in Reservoir Using Nano–Particles are commercially viable for patenting and have attracted international and local awards during the annual society of petroleum engineer’s conferences between 2012 and 2013", Oluleye said. Besides, he said: "As a Fund, we are determined to improve on our previous achievements as adequate mechanisms have

been put in place for the award of the 2013/2014 research grant. Following advertisements in national dailies and on the Fund’s website 95 proposals were received. "These proposals were subjected to in-house pre-screening to select viable research proposals based on various research themes and sub-themes as approved by Management. 36 proposals were shortlisted for a blind peer review scheduled for March 13, 2014.

EnergyNet to host power summit

nergyNet, organiser of global investment meetings and executive dialogues for Africa’s power sector, in partnership with Nextier, an investment and advisory capital firm focused on agriculture, power and petroleum, will be hosting the private sector-led Power Investors summit in Lagos, this month, to facilitate discussions between senior-level executives active in Nigeria’s power sector. Last year’s summit featured major stakeholders and international investors from a wide array of sectors, including banking, government, law, oil and gas, trade, mining, and power. The audience members include decision makers from local and international power companies, as well as government officials and consultants. This year’s summit, according to a statement, will feature segments from various experts in the power sector and will focus on a vast range of topics, from financing, the fundamentals of Independent Power Producer (IPP) development, gas to power to outlining human

capital development strategies in the power sector. “The aim is to not only highlight investment, but also to identify ways to promote the sector’s viability,” said Simon Gosling, Managing Director at EnergyNet. “The summit will provide an open forum to help facilitate clear and open discussions for individuals vested in the power industry.” The Honourable Minister for Power, Professor Chinedu Nebo, will be attending the Summit. Speakers at the event will include Adeoye Fadeyibi, CEO, Transcorp Ughelli Power Limited on Power; Professor Bart Nnaji, the Founder / CEO of Geometric Power Limited; Dr Timothy Okon, Group Coordinating Director, Nigeria National Petroleum Corporation (NNPC) and Uche Orji, the Managing Director/CEO of the Nigeria Sovereign Investment Authority. Others include Oscar N. Onyema, Chief Executive Officer, the Nigerian Stock Exchange (NSE) and Dennis Eboreime, GM (Finance & Accounts), Niger Delta Power Holding Company.

Chad basin

FG plans equity funding for renewable energy

he Minister of Power, Prof. Chinedum Nebo, yesterday stated that the Federal Government would explore private equity funding and other sources to develop the renewable energy sector in the country. He made this known in Abuja when he declared open a seminar on "Formation of Renewable Energy Private Equity Fund in Nigeria.” Private Equity funding is a source of investment capital from investors for the purpose of investing and acquiring equity ownership in companies. Represented by the Permanent Secretary, Dr Godknows Igali, Nebo said private sector funding was critical to the power sector in view of its privatisation. He said: "The aim of this seminar is to facilitate, sensitise and explore all the best desir-

able means of setting up private equity funds to accelerate the attainment of sustainable power supply in the country. "According to the minister, the Federal Government was already working hard to harness the abundance natural resources like solar, hydro and wind needed for the development of renewable energy. His words: "The transformation agenda is anchored on delivering power to Nigerians and renewable energy is a key component of our energy mix". He explained that the Federal Government was exploring the use of renewable energy, especially in remote villages. According to him, the exploration was to ensure there was an alternative form of power to Nigerians who were not connected to the national grid.

Also explaining the efforts Federal Government was making to boost power supply, Nebo said work would soon begin on the construction of the Zungeru and Mambila power plants and other hydro-dams. He reiterated government's commitment to creating an enabling environment for investors to thrive in the sector and ultimately develop the sector in line with international best practice. Earlier, the Founder and Chief Executive Officer, Henshaw Capital Partners, Mrs Barbara James, said the seminar was meant to promote private equity and venture capital in Nigeria. She said: "This seminar is aimed at encouraging private equity funding in the power sector.

32 BUSINESS | ENERGY HURDLES Minister of Petroleum Resources, Diezani AlisonMadueke, has said that Boko Haram insurgency slowed down exploration at the Chad basin in 2013.

Adeola Yusuf

inistry of Petroleum Resources has presented a N60 billion budget to the National Assembly.

Sanctity of Truth

Tuesday, March 18, 2014

Oil ministry to spend N60bn in 2014 Minister of Petroleum Resources and Chairman of the Board of the Nigerian National Petroleum Corporation, Mrs. Diezani Alison-Madueke, made the budget presentation. She said that over N60billion is projected for the 2014 budget in line with the Medium Term Expenditure Framework. She assured that the ministry would complete some of the ongoing projects that were started in the previous financial

year. Alison-Madueke stated this after the ministry’s budget appraisal for 2013 and budget defence for 2014 before the Senate and House of Representatives Joint Committees on Petroleum Upstream, Downstream and Gas in Abuja. The minster informed that already, the situation is coming under control and steps are being taken to flood the market with petrol in the next few

weeks. But has at last Sunday, the was has being the case as there were still long queues in Lagos. “There seems to be some sorts of rumours that we intended to increase the pump price of petroleum products and I have said categorically and severally that the Federal Government has no intention of increasing the pump price of PMS (premium motor spirit) or petroleum products now or

Global Headquarters of the Nigerian National Petroleum Corporation (NNPC) in Abuja.

DEBT The Benin power firm has listed the challenges inhibiting its operations

Benin power firm met N25.3bn unpaid bills, says Osibodu Sets priorities for improved power supply

Cajetan Mmuta Benin

he Benin Electricity Distribution Company (BEDC) inherited a debt profile of N25.3 billion from customers of the old Power Holding Company of Nigeria (PHCN), which they are expected to collect on behalf of the Nigeria Electricity Liability Management (NELMCO). The Benin Disco took over the management of PHCN on November 2013. Managing Director and Chief executive of BEDC, Mrs. Funke Osibodu, disclosed the huge debt profile at the weekend during an interactive session organised by top management of the company with newsmen in Benin. She said the company had been faced with numerous challenges arising from the unfor-

tunate incidence of significant drop in national power generation as a result of gas pipelines vandalism, which led to drop in power supply across the country around the time of the takeover of the company by private owners. Besides, she listed customers’ apathy to payment of electricity bills due to erroneous belief that with the unbundling of PHCN, they were not bound to honour any payment for a period not less than three months; as well as non-payment of severance benefits of some staff of the defunct PHCN by the Federal Government, as some of the challenges facing the company. In addition to these, she said there are cases of high volume of estimated billing that needs attention as well as the presence of over 8, 000 backlog of customers, who paid for meters

under the previous management prior to the introduction of Credited Advanced Payment Metering Implementation (CAPMI) last year ( a new metering methodology introduced by the Nigeria Electricity Regulatory Commission NERC ). Besides, she said obsolete meters and the non-understanding of the concept of fixed charges are areas that will need the focus of the new management. All existing liabilities as well as contingent liabilities and judgment debts prior to thetakeover of the company are all to be transfered to NELMCO, she added. The BEDC boss explained that the BEDC has embarked on massive customer re-registration and enumeration (know your customer -kyc) policy drive; establishment of call center, back-end complaints tracking solution and the setting up

of website with information to customers about BEDC and access to submit complaints. In a bid to intimate customers on the initiatives being taken by the company, she said customer media enlightenment programme had commenced and online payment system being tested. The company has also commenced the process of ensuring that there is improvement in power supply through monitoring of up-time and transmission related issues, turnaround benchmark set on faults resolutions and regular line trace clearing and maintenance of injection substation to reduce power outage due to feeder tripping. Mrs. Osibodu added that the company was determined to ensure efficient and improved power supply to ensure that a better quality life exists for the average Nigerians.

in the near future. That is for certain,” Mrs. Alison-Madueke reaffirmed. She argued that the tightness in the petroleum products supply chain was as a result of hoarding and diversion of the products by marketers, stressing that those that are found diverting or hoarding will be made to face the full wrath of the law. Mrs. Alison-Madueke said that based on the actual funds released to the ministry in 2013, the budget performance stood at 89.6per cent, adding that the capital release recorded 50.2 per cent while recurrent recorded 100 per cent. She revealed that over N60 billion is projected for the 2014 budget in line with the Medium Term Expenditure Framework and assured that the ministry would complete some of the ongoing projects that were started in the previous financial year. The minister said the Liquefied Petroleum Gas Framework in the 2014 budget is geared towards having a robust LPG development in the country stressing that the Ministry is collaborating with NNPC retail to ensure that the LPG project receives full implementation. Also, the company’s boss stated that positive efforts have been made to ensure pilot enumeration of customers on a feeder along sub-stations, uprisers and transformers, to help reduce overloading and power theft while intensifying preventive maintenance for effectiveness and reduction in tripping has taken off. She said that the installation of check metering on injection substations stations in Ondo and Ekiti states are expected to commence next month, having completed the one for Edo State and currently installing the ones for Delta State. Also, the metering of distribution of 8, 000 transformers, is expected to begin in June this year. When all these are done, she said it will be possible to trace out faster overloaded transformers, whilst also knowing the amount of power being distributed to each neighborhood. “In spite of these challenges, we are determined to continue in our quest to deliver quality and stable power to all our valued customers across the four states of our operation, which includes Edo, Delta, Ondo and Ekiti states," the MD stressed.

PROPERTY&ENVIRONMENT PAGE 33, Tuesday, March 18, 2014

Guardian Pundits urge the new minister to be committed to the execution of housing policy.

f one should consider the plethora of housing policies and programmes that have been rolled out by successive governments in the country, Nigerians should have been the most housed in the world today. Nigerian housing policies have evolved over a long period of time following the formal intervention in the housing sector by the colonial administration which came after the unfortunate outbreak of the bubonic plaque of 1928 in Lagos, which necessitated the establishment of the Lagos Executive Development Board (LEDB) followed by other public housing programmes during the colonial era with major focus on the provision of expatriate quarters and housing for some selected indigenous staff in railways, marine, police and the armed forces. From 18.7 million people based on the census exercise conducted in 1921 by the colonial government, Nigeria currently has a population of 170 million people according to the National Population Commission, with 17 million housing deficit, despite several efforts by successive governments. Since the end of colonial rule in 1960, available records showed that between 1973 and 2006, over 30,000 housing units were constructed by the Federal Housing Authority, FHA, an agency established through the promulgation of Decree No. 40 of 1973 and saddled with the responsibilities of making proposals to the Federal Government on housing, ancillary infrastructural services and implementing those approved as part of measures to bridge the housing deficit. Over this period, the nation had many housing ministers to see to the implementation of various housing policies. From 2000 to 2014, a space of about 14 years, the nation’s housing industry has produced eight ministers. Incessant removal and appointment of minister for the sector, many experts said,

Experts task new minister on mass housing

Harbour Point Town Home, Ijora, Lagos.

Jagun

Ayinde

Adedire

contributed immensely to the reasons for low growth of the housing industry as each of them would come with his or her own agenda without minding the policy and programmes of predecessors. It was cheering news last week when President Goodluck Jonathan, announced Mrs. Akon Eyakenyi, as the new Minister of Land, Housing and Urban Development, a few months after the ouster of the former minister, Ms. Ama Pepple. However,to guide the new minister on the path to to make meaningful impact during her tenure, some housing experts have begun to set agenda for her, urging her to see to full implementation of the housing policy prepared by her predecessor to make

mass houses available for Nigerians. Although, in her first official speech last week, the new minister said she would ensure that the housing deficit in the country was tackled headlong. She said: “We will deploy all government resources that we have to bridge the housing gap.” Speaking with New Telegraph, former President of the Association of Town Planning Consultants of Nigeria (ATOPCON), Mr. Toyin Ayinde, said there was no need for the minister to beat about the bush or trying to introduce her own agenda since the nation currently has a housing policy. According to Ayinde, the incumbent Commissioner for

Physical Planning and Urban Development in Lagos State, what the minister should do is to look into the policy and see to its implementation by providing an enabling environment for housing provision and ensure that people have easy access to funding from the banking industry to enhance homeownership. He said: “Already, we have a housing policy and whoever is coming in as a minister is not being appointed to come and introduce his own agenda. What the minister should do is to look into the policy and then see to its implementation. “In Nigeria, we have a gap of dwelling units of about 17 million, it is about providing an enabling environment for housing provision and for people to be able to access

fund from the banking industry. She should also make it possible for infrastructure development that houses will anchor on.” Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Chapter, Mr. Stephen Jagun, urged the new minister to be proactive and be positive towards putting in place site and services across the country for people to buy into and build their houses. He explained that the minister should strategise with state governments on partnership basis so that land can be made available for site and services schemes. Besides, he wants the minister to go beyond rhetorics and see how the huge money accruing to pension fund, unclaimed dividends and dormant account balances could be harnessed to fund cheap and affordable housing schemes. Immediate Chairman of ATOPCON, Lagos Chapter, Mr. Bisi Adedire,warned the minister against politiciasing the future of Nigerians, saying housing is second to none for people in terms of need and should be taken seriously. He advised the minister to create an enabling environment for people to get land at affordable rate to build, adding that she should encourage the local production and use of local materials for housing.

property & ENVIRONMENT

Sanctity of Truth

Tuesday, March 18, 2014

Investment values of members’ firms will triple in 2021 –FOCI president President of Federation of Construction Industry (FOCI), an umbrella body for construction firms in the country, Mr. Solomon Ogunbusola, was in Lagos penultimate week for the exhibition hosted by the group. He spoke with Dayo Ayeyemi on some giant strides recorded and challenges confronting the association.

there, construction industry will suffer. So you cannot say that if the construction industry is low in GDP, then it means the economy is collapsing. If the president continues the way investment is being done now that you have to open the roads for goods to come in from the rural areas and you are repairing the existing ones, then opportunities will come for the construction industry to grow. What efforts have you made to ensure that government pays the money owed your members? Let me tell you and we have to be realistic, it is very difficult. It is like having somebody who is giving you jobs to do and you have no other sources of income apart from that, you cannot just say you want to go into legal action or to force the person to pay you at a very difficult time. If he gives you the money, then you think he will call you tomorrow? So we are going to continue to persuade government.

How did you see the exhibition? The turnout is impressive; we will be doing the event yearly to the end of my presidency in Federation of Construction Industry. What is the essence of this exhibition? The essence of the exhibition is to bring all our construction firms together and see that we have opportunities not only by buying in one place, there are other opportunities. You said investment value of your members’ industries will triple in 2021 and at the same time you are lamenting the indebtedness to members by government. What are the factors that will drive the growth? You have seen President Jonathan’s agenda. He is doing a lot of transformation and whether we like it or not, the man is trying his best. In the construction industry, we are not talking only about road, we are talking of air and rail transport, and it is very clear that there is no government that has invested in the construction industry than Mr. Jonathan. If you go to the far north, you will see that the rail transport is there. Government is spending a lot of money to ensure that the rail from Kaduna gets to Abuja and Lagos. Also, most of the roads in Abuja, in the east and far north are being dualised at present, therefore, if these jobs are going on and we have many members, up to 125, including big names like Julius Berger, Dantata, Sawoe and the smaller ones, then the industry is growing. Most of the companies are involved in construction projects and if it is going on like that, I am sure it will triple by the year 2021. How are you coping with the risk? There is no risk anywhere. If you say they owe you and you do not want to work, how do you continue your living? So, we are taking the risk and somehow, government is viewing the indebtedness and if it has money, it will pay. Can you let us know in figures how much government owes FOCI members? I cannot give figures now but I know it is running into billions of naira.

Ogunbusola

We are not talking only about road, we are talking of air and rail transports, and it is very clear that there is no government that has invested in the construction industry than Mr. Jonathan ing to construct our roads according to the required standards. If you go to Abuja now, the roads are not failing like other roads because we did proper layers unlike before when we are doing surface dressing by just putting bitumen and stone, and the soil under may not be strong to withstand heavy loads. Some of the goods that are supposed to be transported through rail are now being transported by road and you have heavy trucks moving on our roads. So if the rail is constructed, you will find out that the heavy goods will be transported through rail and our roads will last. What are the contributions by your members to the GDP? It is much.

Like N10 billion? Ten billion is like the amount a company is being owed, we are being owed over N200 billion.

But you once said it is less than 10 per cent? You are already used to petroleum driven economy. 95 per cent of our economy depends on petroleum, so this is different from petroleum. We are talking of construction works and equipment.

It is believed that road construction is more expensive in Nigeria than any other country. Why is it so? That is your own view because it is not costlier here. I worked in Canada, when you see the way government constructs road there, you will see that we are spending less here. It is only in recent time that we are try-

When compared with other economies, will you say the sector has done very well? You cannot use the construction industry alone to measure the economy in the sense that if the president decides that I want to go into Telecoms like it was done during the Obasanjo regime and pumps a lot of money

The industry once canvassed for a specialised bank to attend to the needs of the sector. Do you still want this since we now have Infrastructure Bank? We really need a construction bank. About nine years ago, we were thinking that we could form a construction bank where we will offload all contract jobs and all documents to the bank, then the bank will be funding us and government will be paying the bank, but we could not succeed because of the major problem in the economy. It was a time Central Bank of Nigeria was telling us that all banks must recapitalise to N25 billion. At that period, we could not raise the money. But with what is going on now, maybe we have to try again. If we have such bank we will be able to persuade that instead of paying 20 to 25 per cent interest rate, the construction bank will give us between 5 to 9 per cent interest. How do you relate with Infrastructure bank? It has nothing to do with construction industry. What we are saying is that, we want a bank where our members are participants. How do you ensure that government patronise indigenous engineering firm in road construction? I have a company and that is S&M Nigeria Limited, the truth is that government has a policy now in the Federal Ministry of Work that some jobs that are less than N5 billion should be given to indigenous construction companies and this has been followed. If government is doing this, it is only left for the indigenous company to go and work according to what they have been given. But some of them, instead of investing the money to be able to come back, present certificate and get more money, they do other things. You cannot blame government if it is not patronising such firms. For others that are working presently, I am using this opportunity to appeal to them to work hard and manage their companies very well so that government can continue to patronise them. We also discover that there is dearth of trained artisans in the country. What is FOCI doing about this? Just July last year, I was in Canada, I went with industrial people to get artisans trained by the technical colleges in Canada. I mean those that operate heavy equipment, so that if we train them, they will be well equipped with skills, and be employed in companies where they are needed. We are trying on that one. We are getting the cooperation of the Canadian Deputy High Commission in Nigeria to train them.

property & ENVIRONMENT

Sanctity of Truth

Tuesday, March 18, 2014

Buying the perfect modern dining table

Dining tables are scene-stealers in any home. Taking pride of place in what’s usually the most formal room of the house, or grounding the scene in an open-plan living/ dining space, the dining table is more than just a place to eat. It represents friendship, love and welcome. Finding the right one, according to experts @ www.styleathome. com, comes down to asking yourself the right questions to narrow the field, giving key questions to ask yourself before you head to the store. Am I in my style groove? Dining tables run the gamut from dirt cheap (i.e. less than the cost of dinner for two) to investment pieces running into the thousands of dollars. If you’re confident in your decor taste, buy an investment piece that you want to have around for decades to come. If you’re not really sure yet what your style is, look for a more affordable piece that’s neutral enough to pass muster as you try out different decorating styles. Regardless of whether you buy high or low, opt for a good quality table that will remain in fair enough condition to be resold, donated or otherwise handed down if you no longer have use for it. Avoid low-quality “disposable” (breakable, poorly constructed) furniture as a matter of eco principle. What tactile element would please me? Say what? What we mean is, what would you like to feel when you’re at your dining table, eating, doing paperwork or playing poker? The cool of glass or marble or the warmth of wood? And if wood, would you prefer the smooth finish of a perfectly polished veneer or the patina and imperfections of a naturally worn solid wood? When choosing, let your sense of touch guide you as much as the more obvious visual sense. After all, this is a piece of furniture you’ll be using frequently. What styles do I like? Flip through magazines, design books and online to get a sense of dining table styles. Flag what you like. Most likely, you’ll notice threads uniting your choices, whether it’s the type of mate-

rial that the table is constructed from, or the shape and the dimensions. Often times, you may find that the chairs are as much a selling point as the table itself. Jot down your preferences. How many people do I need to seat? What are your seating needs? They’re often dictated by life stage. When you’re younger, space might be at a minimum in your home For many singletons, a tiny square table may be all you’ll need for eating alone or hosting a couple of pals for the odd night in. For families and couples who entertain, a dining table with a minimum of 125 cm of length by 75 cm of width will be required. How much care can I commit to? If you can’t commit to anything beyond wiping the table down when it needs it, look for waterproof, stainresistant finishes like laminate or glass. For medium maintenance, hardy and patina-friendly woods like maple, teak and oak will require basic maintenance. Wipe spills and condensation immediately and apply a light spray-on wood conditioner every few weeks. Seasonal wax applications will help keep wood from drying and cracking during the dryer months. For higher maintenance, wood veneers can be delicate, so vigilantly follow your dealer’s care recommendations, including those for waxing. Furniture pads may be a smart choice under tablecloths to further protect the table surface from the heat and bangs that can accompany big festive meals.

36 property & ENVIRONMENT

Sanctity of Truth

Tuesday, March 18, 2014

Lagos warns against illegal purchase of Ayobo land

L Residents of Makoko waterfront community of Lagos.

ATOPCON tasked on use of GIT for urban planning CUTTING-EDGE GIT will ensure accurate and specifically timely information on land use changing pattern. Dayo Ayeyemi

onsulting town planners under the aegis of Association of Town Planning Consultants of Nigeria (ATOPCON) have been tasked on the need to explore geospatial technologies for better urban planning and management. Giving this task during the 2014 professional development workshop on the theme: “Application of emerging cuttingedge technologies in town planning practice,” President of the Nigerian Institute of Town Planners (NITP), Mr. Steve Onu, explained that geospatial information has become indispensible for urban planning and management as urban space now requires accurate and specifically timely information on land use changing pattern. Justifying the need for town

Ogunleye

planners to embrace the new method, he pointed out that geospatial technologies provide essential tools for urban management at all levels of government, adding that it also enhanced the capacity of decision-making process. He noted that geospatial technologies in urban planning and management have increased potential and benefits which, according to him, were yet to be tapped by developing countries in which Nigeria is one. While commending the executive members of ATOPCON for sustaining the professional development workshops, he said geospatial information was important for consulting town planners in the practice of the profession as it described the location and names of features beneath, on or above the earth surface. Justifying the choice of the workshop’s theme, ATOPCON’s President, Mr. Moses Ogunleye, said it was to sharpen the skill of members in the use of modern information and communication technology in their work. “We are all aware of the wonders which technologies have brought and will continue to bring to the practice of our profession. As practitioners, we cannot afford to be left out,” he said, advising participants to take advantage of the opportunity. In his presentation, a lecturer of Urban Systems and Geographic Information Science at the Regional Centre for Training in Aerospace Survey (RECTAS), Obafemi Awolowo University, Ile-Ife, Osun State, Professor Oluseyi Fabiyi, told participants that Geospatial

Information Technology is not an optional but operational tool for spatial planning, saying its use permeates all stages of planning process. He explained that the use of GIT in planning would necessarily expand the scope of planning activities and practice, saying the integration of appropriate technologies would help planners to spatially enable the planning models for plan implementation. Major constraints of GIS integration for planning, according to him, were the failure of planners to adopt the revolution that is sweeping across all land-based developments and sciences. He listed poor management structure and lack of new technology buy-in; poor data availability and in useable format; lack of standardisation of data collection process and data quality; lagging behind of planning schools in the area of training for modern tools; and dearth of requisite expertise in GIT and planning as factors influencing the use of GIT in town planning practice in Nigeria. Managing Director AAC Consulting, Lagos, Mr. Anthony Adeoye, a surveyor, said the use of geospatial technology in modern day urban and regional planning would ensure adequate provision of increasingly complex urban challenges. In his presentation on ‘Information technology management and planning practice ‘ a lecturer in the Department of Urban and Regional Planning, University of Lagos, Dr. T.I Salau, enumerated the importance of ICT in urban planning.

agos State Permanent Secretary Lands Bureau, Mr. Hakeem Muri-Okunola, has urged members of the public to be wary of the act of individuals, families, traditional rulers and communities who engage in widespread indiscriminate and illegal sale of government acquired land at Ayobo in Alimosho Local Government Area of the state. He said that all parcels of land at Ayobo covering an area of 455.76 hectares were acquired by Lagos State government, by virtue of Lagos State Official Gazette No 15 Volume 34 of May 5, 2001 and the land was earmarked and named Ayobo Residential Scheme. The Permanent Secretary also advised members of the public to take formal approach to verify the status of any landed property before consummating the transaction. He emphasised further that the public should endeavour to obtain Land Information Certificate from the Office of the Surveyor-General and ascertain the status of the land before purchasing and ensure proper validation of the titles

from the Lagos State Land Registry before making attempt to purchase any landed property. “The unsuspecting members of the public are therefore enjoined to take necessary caution by way of verifying the status of any landed property, else they may purchase litigation which venture may end up as colossal waste of hard earned financial resources.” It is a fact of common knowledge that there is increasing illegal activities of fraudsters who deceive unsuspecting members of the public based on unconfirmed claim that they are the owners of such lands.

Fashola

Property Watch: LEKKI ON SPOTLIGHT S/N Description of property/location 1. 2. 3. 4. 5. 6.

4-bedroom terrace duplex for sale at Ikate, Lekki 3 -bedroom terrace houses at Ikate, Lekki 5-Bedroom detached house at Oniru Estate, Lekki 4-bedroom house plus BQ @Romay Garden, Lekki Phase 1, 532 sq of land fenced with gate @ Lekki 1 Resort centre on 1 acre of land @ Balogun Estate, close to Chevron Bus stop, Lekki

Current Price N48m

Likely price in two years after N60m

N35m

N45m

N110m

N120m

N75m

N85m

N75m

N100m

N350m

N400m

Factors affecting property values in Lekki location:

1. High demand for accommodation 2. Good layout 3. Closeness to Lekki Free Trade Zone, proposed international airport, Eko Hotels and Suite, closeness to Ikoyi and Victoria Island. 4. Security 5. Presence of infrastructure (Lekki Toll Road, Lekki-Ikoyi link bridge).

Building Materials Watch MATERIALS BLOCKS 9*9*18 per one 6*9*18 per one CEMENTS Cement per 50kg bag Cement per tone (20bags)

MARKET PRICES 155.00 145. 00

1,900. 00 38,000. 00

BUSINESS 37

Sanctity of Truth

Tuesday, March 18, 2014

First Nation aircraft

Nigerian airlines’ slogans: Mere rhetoric? What does an airline absolutely have to do to be an airline? It has to fly customers. That’s really it. It has to serve the customers more efficiently. If it doesn’t do those things, it’s not an airline, writes WOLE SHADARE

t is understood that they are not running a charity and it is assumed that everyone gets what he/she paid for. They don’t expect luxury for the price they offer. Some of them gave up on leg room, timely departures, snacks and beverages, in-flight entertainment, onboard amendments, among others. There are so many Nigerian airlines that have gone extinct, but focus will shift to the ones that are still in operations and see how their slogans have either helped to define their operations or one that does not convey what they preach in terms of customers’ service. A slogan is one that defines a company to the fullest. It brings out the real intention of the company itself. The following are Nigerian airlines slogans: First Nation (The first option); IRS (Going places); Medview (The airline of Nigeria); Chanchangi (Pleasure in the sky); Overland (Flying for you); Arik (Wings of Nigeria); Aero Contractor (The reliable way to fly) and Dana (Smartest way to fly). In fact, Nigerian travellers have given up on virtually all the things the carriers promised through their slogans and everything almost gone in exchange for an affordable ticket to their destination.

Have the carriers really lived up to these slogans? The answer is yes or no, depending on how one views it, but one thing is instructive, save for one or two airlines, their meanings are not clear-cut and they are almost lost in the delicate business environment in the country, which makes it practically impossible for them to keep to what they represent or what a travel expert described as mere words. Anyway, none of them promise to provide good customer service as they concentrate on one central objective of flying for you, wings of Nigeria. These are very ambiguous phrases that do not define their mission and objectives clearly. One area they probably would have delved into had the Nigerian Civil Aviation Authority permitted it would be to use term as “safest airline.” The NCAA will not allow any airline perceived to be unsafe operate in the country. Because of lack of education or the cumbersome nature of enforcing their right, some passengers have given up. Just because people can’t pay much doesn’t mean they can be treated cheaply. Regardless of the price, they still can expect two things: customer service and protection from deceptive and extortionist practices. Investigation by New Telegraph indicate that a large number of the travelling public do not have a preferred

airline. However, many consider punctuality in departures by airlines a very important factor in air travel while many consider the airlines’ safety record paramount. In terms of the cost of air transport, majority consider the amount paid on the different routes as justified given the cost of operations of airlines. Overall, passengers’ general assessment of airlines performance was average, signifying that there was still room for improvement. Travel experts recommend that the management, administrative and regulatory bodies concerned with airline operations should ensure efficiency while the airlines should work harder at satisfying their customers. Moreover, they suggested the provision of additional facilities in the waiting room of the departure lounge. Speaking to New Telegraph, travel expert, Olumide Ohunayo, admitted that airlines use their slogans as a signpost for marketing and corporate boosters. According to him, “in the beginning, the trend was having the word, ‘safety’ or ‘comfort’ as part of their slogan, but that has changed now with revolutionised slogans which have not translated into revolutionised services or benefits for users of air transport services. “We will get there if we are able to build a robust domestic airline market

Anyway, none of them promise to provide good customer service as they concentrate on one central objective of flying for you, wings of Nigeria. These are very ambiguous phrases that do not define their mission and objectives clearly

that can attract international investors and partners. This will naturally increase and improve competition; thereafter, their slogans may be important,” he added. Ohunayo noted that for now, industry users are filled with trepidation, due to the recent crashes, poor services and general insecurity. Another travel expert, Olatunji Oke, said slogans are supposed to be the summary of the values or vision of an airline or organisation, stressing that it is a kind of window for consumers on what the airline strives to be. He noted that to provide the kind of service that will prove the slogan in the total experience of customers is another thing. His words: “If you look at airlines in the industry like Dana with the slogan’ the smartest way to fly’, it is based on the affordable price it was said to have revolutionise. For Arik, they have the largest fleet and played a vital role in aviation in Nigeria. Generally, we know that the service level of our airlines can be far better than what they offer now.” Customer service is built on the presumption that cash-strapped people will come to you anyway. So why bother with their opinion if you can hold them hostage to the price? And your company’s creativeness in imposing fees on basic necessities balances on the verge of a rip-off scheme. Luring people with a promise of a deal, then overcharging them under various deceits and ignoring their complaints looks like a classic rip-off. No matter the rationale you put behind it. That’s why carriers are asked to reconsider their approach and bring the company’s policy in line with customers’ expectations.

BUSINESS | AVIATION

Sanctity of Truth

Tuesday, March 18, 2014

WITH

Wole Peacock acquires Edwin AIR RAGE Shadare Doran’s Travel World Task before new Minister of Aviation

n a bid to expand its scope of operations, Peacock Travel and Tours has bought over long-standing Twickenham travel agency, Edwin Doran’s Travel World, for an undisclosed sum. It will be the first time Peacock – part of the Nigerian-owned Peacock Group – has had a presence on the UK high street, having been based in Peacock College in Hackney, London, until July 2013. Edwin Doran who founded the agency in 1974, is to leave the business and focus on his vineyard in South Africa. His wife, director Rosie Doran, will continue to work for the business during the transition period. The agency’s two existing members of staff will remain, taking the total number of employees under the new ownership to four. The agency’s name will be changed to Peacock Travel and

Tours Incorporating Edwin Doran’s Travel World. Keith Lloyd, general manager UK of Peacock Travel and Tours, aims to increase the agency’s £1.6 million turnover by up to 7 per cent by the end of the year. Peacock also operates a tour operating division focusing on northern Cyprus, and a bureau de change will be added. Lloyd said: “This will be our first time on the high street and it’s very exciting, especially considering the turnover of the business is so great. “Other agencies in the area have closed and I believe this puts us in a great position.” Lloyd said he hoped to add additional agencies in the future and would also consider homeworkers. Doran said: “It’s sad to sell as we have gathered an outstanding collection of friends in the 40 years we have been in travel.”

L-R: Edwin Doran, former owner, Edwin Doran Travel World, Roger Ford; Partner, RussellCooke Solicitors (Edwin Doran's Solicitors), Robert McCaw; Solicitor, Regnum Solicitors and Mehmet Ali Erdogan; Principal Partner, Regnum Solicitors (Peacock Travel's Solicitors), Paul Phillips (Partner Brian Paul Ltd) Chartered Accountants.

Rising fuel costs offset by increased demand –IATA

he International Air Transport Association (IATA), announced that the airline industry remains on track to deliver a second consecutive year of improved profitability. This is despite a slight downward revision to its industry outlook for 2014 to an industry profit of $18.7 billion from the previously forecast $19.7 billion. The main driver of the downward revision is higher oil prices which are now expected to average $108.0/ barrel (Brent) which is $3.5/barrel above previous projections. The $3 billion added cost on the industry’s fuel bill is expected to be largely offset by stronger demand, especially for cargo, which is being supported by a strengthening global economy. Overall industry revenues are expected to rise to $745 billion ($2 billion greater than previously projected). “In general, the outlook is positive. The cyclical economic upturn is supporting a strong demand environment. And that is compensating

for the challenges of higher fuel costs related to geo-political instability. Overall industry returns, however, remain at an unsatisfactory level with a net profit margin of just 2.5 per cent,” said Tony Tyler, IATA’s Director General and CEO. The aviation industry retains on average $5.65/passenger in net profit. This is improved from $2.05 in 2012 and $4.13 in 2013. But it is below the $6.45 achieved in 2010. “The efficiencies of improved industry structure through consolidation and joint ventures is providing more value to passengers and helping airlines to remain profitable even in difficult trading conditions. But we still need governments to understand the link between aviation-friendly policies and broader economic benefits. In many parts of the world the industry’s innate power to drive prosperity through connectivity is compromised by high taxes, insufficient infrastructure and onerous regulation,” said Tyler.

obody knows who the Aviation Minister would be. There are lots of permutations on who should be appointed substantive minister of a troubled Nigerian aviation industry. While many suggested that a technocrat should be appointed this time around to see if there would be changes to the way things were done in the past, others said it does not matter who is brought in to oversee the affairs of the industry. They based their arguments on the fact that at that level, what is needed is a good manager of people and resources; one who has passion for the sector and not one that is driven by greed or one that is so much obsessed with material wealth, one who grabs everything for himself or herself at the expense of a sector that is life-dependent. The Nigerian aviation industry is full of banana peels and sycophants who are always lurking around the ‘corridors of power’ to set the sector backward, coupled with emergency media consultants, propagandists who contributed largely to the fall of Stella Oduah. To say the truth, Oduah who was appointed in July 2011 came to the sector with a lot of promise, as she bulldozed her way into transforming the place. She got all the support she needed to turn things around and she initially wanted to do so. Along the line, she was misled and reportedly did things that were in contrast with what she aimed to achieve when she assumed duties. Allegations of corruption were too humungous to be ignored. Experts in aviation said they were unprecedented in the history of the sector. The Nigeria Civil Aviation Authority (NCAA) lost its autonomy. The DirectorGeneral, against his will, was turned to an errand boy and where he stamped his feet, he was ostracised. The NCAA became an extension of the Ministry of Aviation. The Bible says pride comes before a fall. The impunity without recourse to lay down rules extinguished whatever remained of the hope people had for the industry. Oduah’s foot soldiers destroyed every reasonable opposition against the former minister and embraced people who sang her praise, people who told her what she wanted to hear. However, whoever is succeeding Oduah must avoid her pitfalls and totally rebuild the sector. Such a person must first be a man or woman of impeccable character, who must not have his or her eyes on every pie and who has knowledge of the way aviation industry operates. He or she must also have the ability to listen to professional advice from the many experienced aviation professionals in the country. The new minister, who must combine both native intelligence with sound education and exposure, must shed weight in all the agencies that are carrying the excess loads forced on them in the immediate past, as many people who have no business in those agencies are there. Those who are relevant must be trained in the modern art and science of aviation operations to make them meet the challenges of the 21st century, while

those who are not relevant to the workings of the agencies must be shown the way out. Besides, Oduah’s successor must respect all the agreements signed with various concessionaires in the aviation sector, seek legal advice on every of their provisions before taking informed decisions that will be beneficial to both government and the concessionaires. He or she should be more of a listener than a talker. Where there are issues of disagreement, in the various agreements linked with concessionaires, such should be resolved using the mechanisms provided for in the agreements in order not to put the sector in jeopardy. The new minister must be a highly detribalised Nigerian, who must be ready to break the cycle of ethnic appointments that had been sustained in the aviation sector for a long time now, putting round pegs in round holes, irrespective of where such pegs come from. Also, the new minister must not interfere in the affairs of the aviation agencies, an act frequently perpetrated under Oduah. The agencies must be allowed to perform their duties of policing the sector as is the standard practice the world over. With this, many Nigerians and the international community will again start having confidence in the sector. Such a successor must review all the contracts that were not transparently awarded for the remodeling of the airports; find out whether they followed the due process and scrutinise the jobs already done whether they are of standard quality, and report whoever is found to have contributed to the circumvention of the process to the relevant anti-graft agency. Aviation analysts said “time is running out, considering next year’s presidential election and the usual pre and post cabinet shake-up in the polity which makes long time planning and execution a mirage. Therefore, Mr. President should, as a matter of urgency, confirm the new minister for aviation so that the ball can start rolling, while he can still be ruminating on other ministries.” Ohunayo stated that whoever is appointed should, as a priority, give the NCAA the needed support as they prepare for FAA reassessment coming up in less than two weeks. The minister should urgently convene a stakeholders meeting, where all issues relating to the industry will be discussed. “The Minister should endeavour to complete ongoing infrastructural projects across the country with a proviso, which is the reassessment of the cost and quality of job done. This is necessary considering the huge expenses incurred in maintaining those that have been commissioned and the quality of materials used for others. The minister should also take a critical review of placements, appointments and concessions that are not regular, inappropriate and transparent enough to sustain professionalism, integrity and profitability. He urged the new minister to take the running of the ministry and agencies from the media, stressing that it’s a recent malaise had never been seen in the industry.

BUSINESS | FOR THE RECORDS

Sanctity of Truth

Tuesday, March 18, 2014

Sanusi Lamido Sanusi's response to allegations in relation to suspension

am compelled to make this public statement to address the various allegations levied against the Central Bank of Nigeria (CBN) and cited as the reasons for my suspension from office as the Governor of the CBN on the 19th of February 2014. • As a matter of record, the allegations were made in the following documents: i. Briefing Note of the Financial Reporting Council of Nigeria (FRCN) dated 7th June 2013, Ref: PRES/188/ T&I/89 to His Excellency, President Goodluck Ebele Jonathan [the Briefing Note); ii. The Letter of Suspension dated 19th February 2014, which I received from the Office of the Secretary to the Government of the Federation; and iii. The petition dated 9th February 2014 by Mr. Erastus Akingbola. However, before I go into the above issues, let me reiterate for the records, the achievements of the CBN during my tenure as the Governor: The Record Firstly, let me state that I have been extremely fortunate to have had a solid and supportive team led by the Deputy Governors and supported by the Departmental Directors, as well as thousands of hardworking and dedicated staff who must be given the credit for all that the CBN has achieved. I would also like to acknowledge for the record, the foundation laid by my predecessor, Professor Charles Chukwuma Soludo, in a number of areas. The CBN Act, 2007, which he championed, established the CBN as a truly autonomous entity of the Federation, and made it possible for us to take the difficult decisions necessary for restoring and maintaining macroeconomic stability. The FSS 2020 and PSV 2020 documents provided the principal strategic roadmaps that led to many of the innovations in payment systems, noninterest banking, financial inclusion, the Asset Management Corporation, IFRS, Risk-based Supervision, and the like. Indeed, it will be impossible for me to review almost five years of revolutionary change made possible by the work of thousands of employees in the CBN in collaboration with other Regulators, Banks and Other Financial Institutions and Government Ministries in this press statement. However, I will mention a few of the key highlights. On monetary policy, the Bank has improved the institutional framework for policy-making. A properly constituted Monetary Policy Committee (MPC) with a clear mandate for maintaining stability has been established. The MPC has been supported by improvements in research, data and forecasting capacity, and we have also paid attention to clear communication of our objectives to the market. As a result, headline in-

Sanusi

flation has remained below 10 per cent since January 2013, from a peak of 15.1 percent and 13.9 percent in 2008 and 2009 respectively. Core inflation declined from 11.2 per cent in December 2009 to 7.9 percent in December 2013, while food inflation maintained a downward trend from 15.5 percent in December 2009 to 9.3 percent in December 2013. In addition to the conventional liquidity management products, the Bank approved financial products to manage liquidity in non-interest financial institutions. The CBN also promoted the formation of the financial Markets Dealers Quotations Over–the-Counter (FQDM OTC) Plc as a self-regulatory OTC operator. In the area of safeguarding the value of the local currency and maintaining stability in the foreign exchange market for the overall sustenance of macroeconomic stability and growth, the CBN over the period has successfully maintained a stable exchange rate regime and a robust external reserve position conducive to sustainable growth and development. On the Banking System, I was appointed Governor in the middle of a global financial crisis when the Nigerian banking system was on the verge of collapse. The Bank moved swiftly to remove the managing directors and executive directors of the banks where major corporate governance failures were discovered, provided liquidity support, pioneered the setting up of the Asset Management Corporation of Nigeria (AMCON) to purchase nonperforming loans, recapitalize the banks and pilot a process that led to mergers and acquisitions, as well as recapitalization of all the weak and failing banks. As a result,

all financial soundness indicators – Capital Adequacy, Asset Quality, Liquidity and Profitability ratios – were normalized. As a result of the work by the Bank, not a single depositor or creditor lost money in any Nigerian bank during or after the financial crisis. In addition to the quantitative measures, we broke up universal banks and encouraged the setting up of specialized banks (including the first Non – interest Bank in the Country’s history), pushed for the adoption of IFRS and Basel 3, enhanced risk-based supervision, issued Competency Guidelines for the staff in the banking industry, established a Consumer Protection Department and developed a Financial Inclusion Strategy and Roadmap, among others for the CBN. The Bank implemented policies aimed at reducing the excessive use of cash in the system to ensure safety, improve efficiency and curb money laundering. The transformation of NIBSS, the insistence on interoperability of channels, encouragement of electronic banking, the licensing of Mobile Money Operators, the Agent Banking and tiered-KYC frameworks have all led to rapid growth in volume and value of non-cash transaction and enhanced financial inclusion. The Bank has played its leadership role in ensuring industry compliance with environmental sustainability and governance standards, including a strong focus on women and the handicapped. The CBN in the last five years has taken a leading role in providing long-term low-cost funding to priority sectors of the Nigerian economy in a bid to help in bringing to reality the Transformation

Agenda of the government of your Excellency. We have provided these funds at single-digit interest rates to micro, small and medium enterprises, as well as to companies operating in the power, aviation, and agricultural sectors of the economy, and also to large industrial enterprises with potential for structural transformation. The Bank has invested in human capital, improved staff welfare and attracted and retained specialized skills in the areas of Banking Supervision, Information Technology, Shared Services and Risk Management. On Financial Performance, the Bank has in the last five years kept a lid on overheads and cost of currency management. As a result, the Bank has continued to produce sterling results and contributed substantially to the Federal Budget. In the five years, 2009 – 2013, the Bank contributed N376 billion to the Federal Budget as Internally Generated Revenue (IGR). Based on 2012 financials alone, we paid N 80 billion to the Ministry of Finance. On the basis of the 2013 results and at the request of the Coordinating Minister of the Economy (CME), we paid N 159 billion to the Ministry of Finance in February this year; the same month the audited accounts of the CBN were approved by the Committee of Governors (COG). Indeed, due to the precarious position of Government finances, the CBN in February 2014, upon the request of the CME, gave the Ministry a further ‘Advance IGR’ of N 70 billion in anticipation of 2014 profits. May I add that, in 2008, the year before my appointment, the CBN contributed N8 billion to the Federation Account. Although the Bank is not a profit-centre, in the first four years of my term, the Bank alone contributed 75 percent of the total IGR paid by MDAs leading to commendation by the House Committee on Finance at several Public Hearings. Recognitions As a result of these achievements of my colleagues and staff, we received numerous recognitions consistently throughout my tenure from highly-regarded publications. These awards are based on a competitive process where analysts and economists rank Central Bank Governors across regions and the globe. In 2010, The Banker Magazine, a publication of Financial Times in London, named me Best Central Bank Governor in the World and Best in Africa. At the Annual World Bank/IMF Meetings, Emerging Markets, a publication of Euromoney Institutional Investor named me Best Central Bank Governor in Sub-Saharan Africa for 2009, 2010 and 2012. The African Banker Magazine named me Best Central Bank Governor in Africa, 2012. This is in addition to being named Forbes C O N T I N U E D O N PA G E 4 0

BUSINESS | FOR THE RECORDS CONTINUED FROM PAGE 39

Africa Person of the year 2011 and listed by TIME as one of the 100 most influential people in the world, 2011. I have always regarded these honours not as personal accolades, but as a tribute to our nation and the committed and resourceful women and men of CBN. RESPONSE TO THE ALLEGATIONS IN RELATION TO MY SUSPENSION • On Wednesday 10th March 2014, I submitted a Memorandum to His Excellency, Mr President, with supporting documentation, effectively addressing all the allegations contained in the FRCN Briefing Note, the Letter of Suspension and the Akingbola Petition. • Having submitted my response to the President, I am further compelled, following the recent press briefing and comments by the Senior Special Adviser to the President on Media, as well as numerous other references to the allegations in both local, international and online media, to put to the public my responses, in the interest of transparency, accountability and my responsibility to the Nigerian people. Let me also state that I saw the FRCN “Briefing Note” for the first time when it was attached to the suspension letter. At no time was this report sent to the CBN either by the President or the FRCN for comments or explanations. As for the Akingbola petition, it is a rehash of baseless allegations he has been making since 2010 which apparently he must have been asked to reproduce on February 9, ten days before the suspension. It is indeed strange that the CBN Governor can be suspended based on allegations written by a man who ran his bank into the ground and against whom judgement has been obtained in a London court, and who furthermore is facing criminal prosecution at home for offences including criminal Theft. • A careful examination of the allegations contained in the FRCN Briefing Note to Mr President, will show that each of the allegations could easily have been resolved by a simple request for clarification or more careful review. There is no doubt that if the CBN had received the Briefing Note, which was prepared in June 2013, all the misconceptions, misrepresentations and erroneous inferences contained therein would have been cleared. • I am publishing these responses to enable the general public see that each and every allegation levelled against the CBN under my leadership is false and unfounded, and that many of the allegations were malicious and fabricated, having been designed to mislead the President into believing that the Management of the Central Bank was guilty of misconduct and recklessness. • Having provided detailed explanations, backed by verifiable documents, it is my sincere wish that His Excellency, Mr President, in line with his adherence to fairness and justice, will apply the same rationale and rigour to other agencies of the Federal Government that have had serious allegations and queries levied against them, and prevail

Sanctity of Truth

Tuesday, March 18, 2014

Sanusi Lamido Sanusi's response to allegations in relation to suspension for the schedule of payments made to Associated Airline Limited. It is worth stating that the CBN is not responsible for how the company reports its turnover.

Jonathan

upon them to provide responses and explanations with the same level of clarity and transparency. • In closing, I would like to place on record the dogged professionalism and patriotism of the staff of the CBN. They have, over the years, conducted themselves very creditably, and discharged their duties with the highest integrity.

Memorandum Responding to THE FRCN ALLEGATIONS 1. CORPORATE GOVERNANCE Briefing Note Allegation 1: that there is weak corporate governance at the CBN on account of the fact that the office of the Governor is fused with that of the Chairman of CBN’s Board of Directors. Response: i. This allegation ignores the fact that global best practice is that the Governor of the central bank is the Chairman of the Board of Directors of the central bank. See Annexure A, which shows the composition of the Board of Directors of central banks in over 55 different countries. 2. ALLEGED FRAUDULENT ACTIVITIES PAYMENTS TO NSPMP Briefing Note Allegation 2: that the CBN’s breakdown of “Currency Issue Expenses” for 2011 and 2012 indicated that it paid the Nigerian Security Printing and Minting Plc (NSPMP) N38.233 Billion in 2011 for printing of banknotes, whereas the entire turnover of NSPMP was N 29.370 Billion. Response: i. The expense item of N38.233 Billion to NSPMP was made up as follows: a. N28.738Billion payment to NSPMP in 2011; b. N6.587Billion accrued liability in 2011 but paid in 2012 when deliveries were received; and c. N2.829Billion audit adjustment journal entry into the account at the end of 2011 in respect of pre-

payments to NSPMP. ii. See Annexure B for the evidence of payment to the NSPMP. Evidently, the difference between the numbers in the financial statements of CBN and NSPMP is a simple reflection of timing differences between recognition of expenses by the CBN and income recognition by the NSPMP, with both entities applying conservative accounting policies. 3. CHARTER FEES Briefing Note Allegation 3: that the CBN made fictitious payments to (a) Emirate Airlines: N0.511 Billion which allegedly does not fly local charter in Nigeria; (b) Wing Airline: N0.425 Billion which allegedly is not registered with the Nigerian Civil Aviation Authority (NCAA); and (c) Associated Airline: N1.025 Billion which allegedly did not have a turnover of up to a billion naira in 2011. Response: i. The CBN neither engaged, paid nor claimed to have paid Emirates Airlines. Rather, the CBN engaged and entered into an Air Charter Services Agreement with Emirate Touch Aviation Services Limited, which is a local Nigerian charter service company. A simple enquiry by FRCN would have clarified and avoided this misrepresentation. ii. With respect to Wings Aviation Limited, the CBN contracted Wings Aviation Limited, which changed its name to Jedidiah Air Limited on 21 August 2009 but only notified the CBN of the change on 28 February 2012. Please, see Annexure C for the letter from Jedidiah Air Limited notifying the CBN of the change of name. Here also, a simple enquiry by FRCN would have made this clear. iii. With respect to Associated Air Limited, the CBN did in fact pay a total of N1.025 Billion to Associated Airline Limited. See Annexure D

4. DEPOSIT FOR SHARES IN BANK OF INDUSTRY (BoI) Briefing Note Allegation 4: that the CBN is yet to receive the share certificate for investments made in the Bank of Industry (BoI) since September 2007 and that the leadership of the CBN was not worried about the delay. Response: i. On 20 August 2009, shortly after I assumed office, I directed that a reconciliation exercise be carried out by the CBN on all its investments in parastatals and companies. Thereafter, the CBN wrote various letters to the Bank of Industry requesting for its share certificates. See Annexure E for the letters from the CBN requesting for the certificate. ii. On 20 September 2009, the BoI wrote to the CBN explaining that the delay in the issuance of the share certificates was as a result of the BoI seeking a concession on the payment of stamp duty and other statutory fees from the Corporate Affairs Commission and the Federal Inland Revenue Service (FIRS) with respect to the investment by the CBN and the FMF. See Annexure F for the letter from the BoI. Also find attached the letter dated 21 February 2013 forwarding the Share Certificate as Annexure G as well as the certificate for the Debenture as Annexure H. iii. It is evident that as at the time the FRCN Briefing Note was written, the share certificate and debenture certificate were already in the possession of the CBN. A simple check by the FRCN would have answered the query. 5. CURRENCY ISSUE EXPENSES Briefing Note Allegation 5: that the expenses made by the CBN on account of currency issues and sundry currency charges for the years 2011 and 2012 were identical and therefore difficult to understand. Response: i. It is incorrect to say that the expenses in 2011 and 2012 were identical. The sundry currency charges amounted to N1.68 Billion in 2011 and N1.87 Billion in 2012. This expense related to amounts paid to Travelex under an agreement to import foreign exchange for licensed BDCs. On the other hand, Currency Issue Expenses totalled N1.15 Billion in 2011 and N1.28 Billion in 2012, relating to expenses borne by the different branches and currency centres of the CBN in the movement and handling of cash. TO BE CONTINUED TOMORROW.

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TUESDAY, MARCH 18, 2014

Youths puffing marijuana

When youths follow parents’ script Most parents think that youths are not old enough to think deeply. Hence they make decisions for them. But parents should let their teenage children become who they want to be, not who mom and dad envision them to be, writes Oluwatosin Omoniyi

ressed in a deep-blue jacket, atop a black rough jean, and a canvass, with a pierced ear and tongue, he was standing in between rows of parked cars at a bus station in New York. He was puffing smoke out of his nostril and mouth and jerked back and forth in a fretful manner like someone hoping to flee an attack at the sight of it. His name is Jide Komolafe, a Nigerian from Osun State but studying in America. The student of Medicine (if truly he is) in one of the universities, said it was his parents’ wish for him to come to America to study. His real dream was to become a pilot. In pursuit of that aborted dream, after his first school leaving certificate, he bought the form for the School of Aviation in Zaria to pursue his pilot’s career. He filled the form and kept it on the dining table for his father to sign the parent’s corner. On the contrary, his father came back from the day’s work, saw it, quietly walked outside,

lit a match and burnt the form to ashes. Komolafe was hurt. He tried the second option of going to Yaba college of Technology in Lagos to study Electrical Engineering. Again, the father opposed. He insisted that his only son should go abroad to study. Komolafe succumbed to the father’s wish by applying for a visa but was not granted. After spending three years doing nothing at home, he eventually travelled to America to study Medicine. “Well, that is my father’s wish,” he said. Komolafe was seen by 7.43 pm. on February 26, at the bus station shivering inside the cold. Everything about him spoke of shadiness. He was carrying a backpack beckoning on some people, probably his friends to come forward to take: “I got the stuff now pal,” he said. The stuff was wrapped in papers plus some heavy things inside the bag. After emptying his stuff and friends gone, Komolafe went to the ticket stand to buy a bus ticket going to Green Hound, New York. Well, he just finished sell-

ing hard drugs, tablets and phones to his customers. Instead of schooling, he now deals on hard drugs, guns, used phones e.t.c. When NT Mom&Parenting him, he was initially aggressive and repulsive. Later, he relaxed after a friendly approach and he confessed that he was introduced to the illicit business by an elderly man simply named Tunde. As far as Komolafe was concerned, he is studying for his father and not himself. “No matter how long it takes, or distance, I will still pursue my personal goal,” he vowed. Komolafe is definitely wasting away in America in the name of fulfilling his father’s wish. Nneka Ezechukwu (Not real name) was supposed to be a science student at the Albany State University, New York. She rather turned a trader of

As far as Komolafe was concerned, he is studying for his father and not himself. No matter how long it takes, or distance, I will still pursue my personal goal, he vowed

African foods. The mother of two said her parents wanted her to study an engineering course abroad as against her preference for Beautician and Fashion and Designing. Truthfully, Nneka seems to be naturally gifted in art. Within ten minutes of standing with her, she perfectly drew the lady sitting beside her with well carved out contours of the face and body. She said she just can’t cope with the terminologies in science class. “Honestly, I am not mapped out for such stress,” she said. She added, “I can’t understand what they are saying in that class.” In a bid to pursue her dream, she met a Caucasian guy, who promised to help her pursue her goal. Of course, he did by making her a mother of two children instead. The sad news is that she is neither in school nor adding any value to herself other than the two children she nurtures and caters for alone. This is a development that her parents are unaware about. “That is what they want because they are the ones living my life for me. It’s really frustrating, you know,” she said. Komolafe and Nneka might be a bit lucky compared to Asabi Odunye, 24, who ran to New Jersey, six months ago because of the shame her parCONTINUED ON PAGE 42

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Tuesday, March 18, 2014

Parents should encourage children make decisions C O N T I N U E D F R O M PA G E 4 1

ents and culture brought upon her. Her case was like the cultural norm of those days called ‘Ashante’ in some parts of Yoruba land, whereby a woman was married to a man against her wish through kidnapping. It was a very pathetic situation for Odunye, who suffered such fate in Tapa, Oyo State, Nigeria. Her father betrothed her to a palm oil dealer to seal their old time relationship. As an NCE holder, she was already in a serious discussion with her boyfriend, who had promised to see her further her education to the university. But her father opposed the friendship. Instead, the father planned with his palm oil dealer friend to kidnap her to a far distance and impregnate her; by that she won’t have other option other than marry the man. Luckily, after four days of kidnappng, she escaped with the help of her friend. The case was resolved between the two families and it was agreed that Odunye should go and marry a man of her choice. One would have thought that her heartthrob would jump and claim her back. Alas! Kayode Ajisafe, refused to have her back because it is a taboo in his family to marry a divorcee. He actually believed that the palm oil dealer would have deflowered her, an opportunity he didn’t have while courting her. “He denied me vehemently. He said his family custom don’t eat left over,” she said. Odunye said she became a laughing stock in the village in the name of culture that does not give woman a voice. She couldn’t bear it any longer, she ran to her maternal aunt in Lagos where she met a friend who helped her to America. But getting there, she is yet to find her footings. According to her, she is just floating. She doesn’t have the right type of money to go to university to continue her studies, nor has she been able to get a job. She is totally confused. She is too immersed in self shame to go home. “As it is now, I can’t go back home, else my parents would ruin me,” she said. But the truth is that her life is near ruin if not ruined already in America, where she is neither working nor schooling. She is just tagging along her friends there. Well, that seems to be the lot of those that their parents make the decision for. And that could likely be because they

Father and son chats

Decision making is crucial because the decisions your children make dictate the path that their lives take. He added that teaching your children to make their own decisions have several benefits didn’t possess the strong will power to convince their parents about their decisions. Some had their ways, better still were able to convince their parents and are successful. For instance, Victor Ikhria, 29, had always loved to be a soldier. His parents thought it was a mere child’s dream. The thought was that when he grows up, he would have a change of mind. Too bad, as he was developing into a full man, his desires for the Khaki dress waxed stronger. His father especially, wanted him to study Political Science. Ikhria said his father at a time threatened to disown him as a child, “I told him to go ahead and see what I will become in life,” he said. After much hassles on both sides, he was left with his choice and “today, I am proud to say I am a soldier and very happy with it,” he declared. Elizabeth Ademokun, a fashion designer in Lagos was a very lucky woman compared to the few cases mentioned above. Liz, as she’s fondly called, said she was lucky that her parents respect-

ed her wish of being a fashion designer after her Ordinary National Diploma (OND) education in Kaduna. Her parents immediately looked for a good place where she could do her apprenticeship. Thirteen years going, she has never had cause to regret the decision because she has been very successful in it. “My belief is that you can only excel and succeed in what you love to do most,” she said. Lizz makes marginal profit of N85,000 monthly depending on the nature of material and personality who she sows for. Parenting and youths relationship seems to be a bit complex issue that requires patience and understanding. Most parents think that youths aren’t old enough to think deeply. Hence, they make decisions for their teenage children. According to Omolara Odewunmi, a grandmother and a social welfare worker based in the US, it may affect teenagers’ future because they will become dependent on their parents

Tips to help youths quit tobacco

hen it comes to preventing teens from using tobacco or helping them quit, parents can take several steps: • Be an example: First, parents can choose not to smoke themselves. • Don’t be shy: Parents should speak up before their children begin smoking or if tobacco use of any kind is suspected. Youth who do not use tobacco before the age of 26 are likely to never start. • Monitor: The amount of monitor-

ing parents do (such as having expectations about when adolescents will be home and checking on their plans) can lessen a teen’s risks of nicotinedependence. • Strongly disapprove: Adolescents whose parents strongly disapprove of their smoking—even if the parents themselves smoke—are less likely to take up smoking. Parental disapproval has even been found to counteract the influence of peers on smoking. • Know what children watch: Par-

ents who set limits on adolescents’ movie choices may help prevent them from starting to smoke; many adult-oriented movies include depictions of smoking that may glamorize the habit. • Enlist allies: Other adults, such as teachers, grandparents, aunts, and uncles, influence whether teens start using tobacco and whether they stop. These adults can be important allies in communicating a no-smoking message to teens.

and they will not be able to make their own decisions correctly. They neither will have their own goals nor ambitions because everything in their lives is made up and decided by their parents. In contrast, parents should be there to help when children make wrong decisions. Parents should let their teenage children or youths become who they want to be, not who the parents envisioned them to be. Makers Jim Taylor, a professor of Psychology at the University of San Francisco, in one of his books titled “The Power Of Prime”; said it is good to encourage children make their own decisions even though it isn’t as simple as saying, “You make the decision. You’re on your own.” He explained that decision making is one of the most important skills a child needs to become a healthy and mature adult. “Decision making is crucial because the decisions your children make dictate the path that their lives take.” He added that teaching your children to make their own decisions has several benefits. When they make a good decision, they can gain the greatest amount of satisfaction and fulfillment because they chose it. When your children make bad decisions, they may suffer for it, but they can learn from the experience and make better decisions in the future.

Honesty with children counts

hen it comes to talking about drugs, extensive research conducted with Australian parents and children tells us that young people appreciate parental advice and look to their parents for their views. However, they will expect you to be informed, upfront and honest, and, if you show you are listening to them, they are more likely to listen to you. We have put together a range of information that will help you connect with your kids. While it may seem hard, the best thing you can do is reach out. The National Drugs Campaign aims to support parents of 13–17 year olds in their efforts to discuss and discourage illicit drug use with their children. Parents will have access to clear strategies and resources such as fact sheets and online information regarding illicit drugs, including contact information for the support, counselling and drug treatment services available to help their children avoid use. One of the most effective deterrents to drug use among young people is a parent who wants to spend time with them – someone who talks with them about their friends, what goes on at school, the sport they play and what interests them. The more parents and other family members get involved in children’s lives, the more positive young people will feel about themselves and the more likely they will be to respond favourably to their family’s views.

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TTUESDAY, MARCH 18, 2014

Lagos residents wading through flooded street

Rains of sorrow The rains are here again. And Lagosians are returning to the familiar terrain where residents and motorists are confronted with sad experiences of flooding. But, is the rain of Tuesday, March 11, an alert on what the coming weeks and months have in stock? ISIOMA MADIKE looks at the looming danger ahead

he heaven opened again on Tuesday, March 11. It was a follow up of trickles some days back. However, after just a few days of rain, many parts of Lagos went back to a familiar path. Residents had to roll up trousers to walk on the streets to avoid being smeared, and motorists had to wade through waterlogged roads. The people recounted the sad experiences of the past and are afraid of what the next weeks and months have in stock for them. At junctions of feeder streets in most parts of the sprawling city are heaps of

used water sachets and debris percolated by shallow floods that found inadequate avenue of normal flows blocking the canals and waterways. Some are overgrown with weeds; others filled with refuse heaps. The early hour’s rain of last Tuesday started with howling wind, which pulled down so many structures but sent a cooling effect into many homes. The residents of many areas of the metropolis and their counterparts in the city’s outskirts, praised God for bringing to an end the searing heat that the Generation Companies (GENCOs) and Distribution Companies (DISCOs) have been generating and distributing to homes. Not many missed electricity that night. At about 1.30am, the rain started dropping in some areas. While it started in other parts of the state around 6.30am and continued for hours until noon. When it finally abated, many residential areas and the highways were flooded. Families took to bailing water from their homes. Young men rolled up their trousers and sleeves, took shovels and began to clear blocked drains preventing free flow of water. For many residents of Ogba, Ojota, Ketu, Ijora, Pedro areas of Bariga, Orile, Oshodi and Ikorodu areas of Lagos, the rainy season is a reminder of the level

of poverty they live in. The areas are densely populated and poorly planned, aiding the occurrence of flood anytime it rains. But, Lagos is not the only city that was not planned. The erosion menace in other parts of the country, especially in the South-East and parts of the North could also be traced to poor planning by the authorities concerned. Property estimated at billions of naira have been destroyed over the years and families rendered homeless. For instance, Osejindu Mordi had a hectic day at work on Monday, March 10. The man had longed for a very restful night as he returned to his Aruna IsaleCollege Road residence. This got more sure when the rains suddenly came. Mordi saw this as God’s alternative for the erratic electricity supply in his area. Straightaway, Mordi jumped on his bed and was soon fast asleep. What woke him up from his deep slumber hours later was a feeling that he was sleeping on water. It all initially looked like a dream he said, but as he looked round, Mordi discovered that this was for real as water had risen to the level of his bed. “The water was seeping through the floor and the walls. The most painful aspect to me was that my books, which I kept on a low shelf in the bedroom, had

PHOTO: TONY EGUAYE

Lagos State Commissioner for the Environment, Tunji Bello

become soaked,” he told this reporter. Yet, he was in for more shock by the time he got to his sitting room. His settee, television set, video player and other household items were floating on water. “It was like a river just started in my apartment,” he quipped. From then until daybreak, Mordi and his young wife, Toyin, embarked on a salvage mission. Incidentally, Mordi’s is not an isolated case. At the highbrow Ikoyi and Victoria Island areas of Lagos, residents like those on the outskirts, cry for help from the ever threatening flood as each rainfall CO NTINUED O N PAGE 44

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Tuesday, March 18, 2014

Need for holistic approach to erosion menace C O N T I N U E D F R O M PA G E 4 3

draws danger closer and relief steadily far. Most often, the floods menacingly take over the roads and homes of the rich and supper rich. It is usually a case of “the rich also cry.” With most Lagos streets un-tarred, floods always have fun, and residents so helpless. All over the state, it is a terrifying spectacle of frustration from residents at the inability of government to effectively construct long-lasting drainages on roads. And when there are, the dirty habits of some of the populace would not help matters. The late Afrobeat legend, Fela Anikulapo-Kuti, though sang that water has no enemy in one of his hit albums, the ever present flood that follows downpours in parts of the state may soon make water an enemy to a lot of people. Most affected are ordinary Nigerians who, while struggling to make ends meet, still have to battle with flood, which forces them to stay indoors as well as cart away the few belongings they have. It is such a miserable and agonising experience living in Nigeria during the rains. A country with all its contradictions of abundant resources and savagery mixed, a reputation woven around a complex paradox of its own spectacular identity. The coming of the rains always adds a new meaning and urgency to the need for good governance. The roads have literally disappeared. Gone under, under the floods! In most of the urban streets, contractors assigned to clear drainage system of debris and sediments to facilitate free flow of water often abandon the job. The contractors, sources say, would arrive, dump sand at some points, dig up slabs across which residents drive into their homes, abandon the job and the authorities curiously keep mute, fuelling speculations of official connivance in deceit. The people usually seething in anger, though, not at the appropriate quarters, but at themselves, would curse and fight for right of way on the narrow passable stretches. Their cars would sink or swim in the floods, which add a comical blend to the defining character of un-seriousness that Nigeria has become. This year’s rainy season has not only served notice of its imminent arrival, it dropped hints that it could be particularly heavy. Tuesday morning downpour in Lagos, the first significant of the year, could only have brought cold comfort to many homes that usually have a hard time when the rains come. Nigerians know, from years of bitter experiences that a heavy downpour means flooded homes and roads, destruction of valuable property and sometimes, loss of lives as people have been swept away by surging floods that most cities, metropolis and villages are known for. As tales of flooded home and trapped residents come and go with each rainy season, questions remain unanswered as to why efforts, if any, made in the past to check the menace were either abandoned

One of the erosion sites in Auchi

or poorly and shoddily done. The painful memories of the 2012 rainfall, in which many were rendered homeless in the deluge of that season, are still poignant. Before then, cracks in the soil, often seem harmless. But, the rains of that year weakened the fissures and triggered erosion, which caused landslides that swallowed homes, severed roads and divided communities. Incidentally, the Federal Government’s ecological funds meant to tackle these problems have not yielded the desired result, as the disbursements, according to informed opinions, are often corruptly managed. Many communities, which are supposed to be direct beneficiaries, are currently reeling in erosion tumor. For instance, the people of UkwuNzu, a sleepy and agrarian town in Aniocha North Local Government Area of Delta State are presently troubled by the menacing gully erosion that has been threatening them for decades. The community has vacated most parts of the town used for both residential and farmlands due to this life-threatening gorge that divides the town into two. Motorists and commuters hold their breath each time they meander past the spot that has consumed many lives. Yet, no solution in sight! Other towns like Obunkpa, Onicha Uku and Ugbodu that share boundary with Ukwu-Nzu have equally abandoned their homes and left the erosion sites to live elsewhere while their houses sit precariously on the edge of the occasional landslides that threaten their lives. But, Ukwu-Nzu and its neighbours are not alone in this agony. Victims of erosion gullies at Oko in Orumba North Local Government Area of Anambra State have had to count their losses at different times during rainy seasons in recent past. Indeed, Anambra has been adjudged to be the most erosion-prone and devastated landscape in Nigeria. Although, other states in the South-East geographical zone have some dose of the environ-

Mordi

A man baling out water from his Lagos home

mental ogre, none compares to the intimidating number and sizes of the erosion and gully sites in Anambra State. According to statistics, about 1,000 erosion sites with varying degrees and dimensions are found in most towns and villages in Anambra. Uyo, the capital of Akwa Ibom State has not been spared this environmental problem as well. The city is presently at the mercy of dangerous gully erosion, which is threatening to sink the metropolis if urgent measures are not taken to check it. Also, the residents of Auchi in Etsako West Local Government Area of Edo State have been appealing to the state and Federal Government to address the menace of erosion threatening the community. The Otaru of Auchi, Alhaji Aliru Momoh, for instance, has consistently pleaded that the area should be declared a disaster zone, owing to the magnitude of the erosion. Incidents of erosion threats have also been an age-long problem plaguing many coastal communities in Bayelsa State. Several buildings have been lost to coastal erosion as the communities are often helpless in dealing with the traumatic situation. This, project officer, Environmental Rights Action,

Bayelsa State, Alagoa Morris, said is being caused by a combination of tidal waves, induced by marine crafts, annual floods and rising sea level as well as strong currents. “Only a holistic approach to the issue can check the phenomenon,” he advised. In the 1980s, the Federal Government set up an ecology fund to help check desert encroachment in the North as well soil and coastal erosion in the South. A parliamentary hearing revealed years later that the funds have often been dishonestly managed. With memories of 2012 flooding in the country still fresh, many have continued to ask about the N17.6 billion the Federal Government earmarked as direct financial assistance to the states affected, which its agencies are supposed to manage. In like manner, not much has been done in the area of future planning. But, with the coming rainfall, the questions are: What are the preparations to avert a recurrence of the 2012 catastrophe? What really has been the outcome of the measures taken by government in the wake of that year’s rainfall? And how would these issues be tackled before the rains come fully and the years after?

METRO 45

arch 18, 2014

ITC workers protest non-payment of salaries DEMONSTRATION Transport firm’s workers protest non-payment of seven months’ salaries Steve Uzoechi Owerri

ggrieved staff of the Imo Transport Company (ITC), numbering over 3,000, yesterday paralysed activities at the state-owned transport company. The workers were protesting non-payment of seven months’ salaries and other government activities which undermined their welfare. The angry workers told our correspondent that the management of the company had for three years failed to pay their leave allowances and other entitlements. The protesters, mostly drivers

of the company, displayed placards with various inscriptions such as: “Pay us our salaries, our children have been sent home from school,” “Okorocha pay us our salaries, we are sick, hungry and can’t pay our bills,” “Okorocha sack Emeka Duru now, if you are not part of this evil,” “Enough is enough.” The protesters, who also refused to be addressed by the Deputy Governor, Prince Eze Madumere, demanded to see the governor to be sure he was not part of the conspiracy to ruin ITC by impoverishing the workforce. When Madumere attempted to address the protesters, he was shouted down by the angry workers. The two major gates leading to the ITC Park were blocked with Mercedes 1414 buses and two mock coffins. The two coffins were decorated with palm fronds and red cloths. ITC, being managed by Emeka Duru, the Managing Director of

Global Ginikana Services, has been enmeshed in crises since he assumed management of the company. Efforts to reach Duru were not successful as his mobile lines were switched off. Test messages to his phones were also not replied. The workers alleged that Duru, Governor Rochas Okorocha’s kinsman, was playing out a script directed by the governor. They alleged the company was remitting N20 million to the governor every month and yet had been unable to pay salaries and service the percentage benefits of the franchise owner. Staff of the state-owned Radio and Television, Imo Broadcasting Corporation (IBC), embarked on a three-day warning strike last week, demanding three months’ unpaid salaries while the pensioners of the same corporation protested non-payment of 40 months’ pension arrears.

The protesters

Promise of N1m made us remove woman’s eye – Suspect Raped and traumatised, a victim, lying critically ill in the hospital, needs financial help, writes MUHAMMAD SANI

he was in pains and agony. That trauma emanated from the removal of her eye and the damage done to the second one. That was the situation Zainab Muhammad was on her hospital bed at the Abubakar Tafawa Balewa Teaching Hospital (ABUTH) Bauchi when a team of journalists visited her. Zainab, a mother of four, is currently lying in critical condition at ABUTH recovering from an attack by three men who raped and removed one of her eyes.While narrating her ordeals in the hands of her attackers, she disclosed that she was on her way back from the “turbaning” (installation as a chief) of a woman in Lukshi when the men called her and demanded to have sex with her.

Meanwhile, the residents of Egbeda /Akowonjo, Iyana Ipaja and other suburbs have appealed to the government to consider expanding the bridge, saying population explosion and increasing vehicular density in the area had necessitated this.

Galambi

According to her, the men promised to pay her but she turned down their offer. Zainab said she told the men she had never indulged in extra-marital affair. But this infuriated the men who seized her, pushed her to the ground and took turn to rape her. After raping Zainab, the assailants tried to remove one of her eyes which the left hanging damaged the other. The suspects who are being held at the Bauchi State Police Command headquarters, are identified as Bitrus Yakubu a.k.a. Japan, Sabo Rabo a.k.a Katanga and Mohammed Sani alias Sani Bamigboye residents of Durr and Dado villages in Dass Local Government. Policemen arrested the suspects in the two villages. They conspired to commit the crime on February 27 about 11.30pm while the victim was on her way to her house.

One of the suspects, Yakubu (45) disclosed that they acted under the instruction of a traditional healer, identified as Galambi. Yakubu said Galambi asked them to bring the eyes at the cost of N1 million. He added that they raped the woman to satisfy their sexual urge. Yakubu, who said the three of them were not married because they had no money, claimed that Galambi didn’t give them any money in advance. According to him, the traditional healer promised to pay them after he used the eyes to make a “disappearing” charm. Other suspects, Rabo and Sani, also confessed to have raped the victim and removed her eyes. But Galambi denied the allegation. Thetraditionalhealersaidhedidnotinstructthemtoremovethewoman’seyes. He added that they only brought an eye to him, urging him to make a “disappearing” charm for them.

Rabo

Sani

The victim’s father, Kwaya Wakili, said Zainab was his second daughter. He said that he was at home when he was told that his daughter’s eye was removed. Wakili said he rushed his daughter to ABUTH. The man, who regretted that nobody had come to their aid in footing the hospital bill, appealed to the government, individuals and organisations for assistance. Wakili also appealed to all stakeholders in the judicial system to ensure that justice prevails in the case of his daughter. He said: “Those who have a say always come up with one initiative or the other,proposingstifferpenaltiesforrapistsandthosewhoremoveotherpeople’s limbs but nothing practically happens afterwards.” ThestatePolicePublicRelationsOfficer,DSPHarunaMuhammad,whoconfirmedtheincident,saidthat investigation was on-going and the suspects would soon be charged to court.

Zainab

46 BUSINESS | CAPITAL MARKET

Sanctity of Truth

Tuesday, March 18, 2014 Daily Summary as of 17/03/2014 Printed 17/03/2014 16:04:05.005

The Nigerian Stock Market Exchange as at March 17, 2014

Daily Summary as of 17/03/2014

Printed 17/03/2014 16:04:05.005

Daily Summary (Equities)

Daily Summary (Bonds)

Activity Summary on Board EQTY

Activity Summary on Board DEBT Federal

Bond Name 4.00% FGN APR 2015 Federal Totals

Symbol FG7B2015S2

DEBT Board Totals

No. of Deals 1 1

Current Price 90.40

Bond Activity Totals

Quantity Traded 100 100

Value Traded 92,015.38 92,015.38

100

92,015.38

100

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

92,015.38

Processing Systems CHAMS PLC Processing Systems Totals

Daily Summary (Equities)

Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Daily Summary as of 17/03/2014 Livestock/Animal Specialties Totals Printed 17/03/2014 16:04:05.005

Symbol OKOMUOIL PRESCO

No. of Deals 30 14 44

Current Price 42.00 43.00

Quantity Traded 212,023 102,296 314,319

Value Traded 8,065,298.89 4,279,467.50 12,344,766.39

Symbol LIVESTOCK

No. of Deals 8 8

Current Price 3.69

Quantity Traded 75,000 75,000

Value Traded 269,370.00 269,370.00

389,319

12,614,136.39

Quantity Traded 140,744

Value Traded 198,016.50

AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC.

Activity Summary on Board EQTY Published by The Nigerian Stock Exchange © CONGLOMERATES Diversified Industries CHELLARAMS PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

Daily Summary (Equities) Symbol AGLEVENT

No. of Deals 9

No. of Deals 2 2 203 53 269

CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Current Price 1.41

Page Symbol CHELLARAM JOHNHOLT TRANSCORP UACN

Current Price 3.95 1.21 3.88 64.50

269

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. Daily Summary as ofAND 17/03/2014 PAINTS COATINGS MANUFACTURES PLC Printed 17/03/2014 16:04:05.005 PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals 13

Quantity Traded 10,000 500 17,075,078 654,807 17,881,129

Value Traded 37,600.00 575.00 66,036,757.54 42,111,810.01 108,384,759.05

17,881,129

108,384,759.05

Symbol COSTAIN

No. of Deals 12 12

Current Price 1.52

Quantity Traded 64,173 64,173

Value Traded 94,769.50 94,769.50

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

Symbol JBERGER

No. of Deals 3 3

Current Price 75.00

Quantity Traded 2,450 2,450

Value Traded 174,562.50 174,562.50

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

Symbol UAC-PROP

No. of Deals 18 18

Current Price 19.25

Quantity Traded 239,234 239,234

Value Traded 4,590,414.15 4,590,414.15

305,857

4,859,746.15

Daily Summary as of 17/03/2014 CONSTRUCTION/REAL ESTATE Totals Printed 17/03/2014 16:04:05.005

CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC

33 Symbol

No. of Deals 7

DUNLOP Daily Summary (Equities)

Current Price 0.50

Quantity Traded 510,711

INDUSTRIAL GOODS Electronic and Electrical Products

Electronic and Electrical Products Totals

Packaging/Containers AVON CROWNCAPS & CONTAINERS BETA GLASS CO PLC. Packaging/Containers Totals

NATURAL RESOURCES Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals NATURAL Daily Summary asRESOURCES of 17/03/2014Totals Printed 17/03/2014 16:04:05.005 OIL AND GAS

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

Current Price

Quantity Traded 510,711

Value Traded 255,355.50

Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Beverages--Brewers/Distillers Totals

Symbol CHAMPION GUINNESS INTBREW NB PREMBREW

No. of Deals 3 68 18 112 1 202

Current Price 14.51 169.00 25.71 145.01 0.77

Quantity Traded 8,360 195,141 56,736 1,469,176 1,600 1,731,013

Value Traded 115,284.40 33,087,736.82 1,418,719.20 213,605,705.07 1,280.00 248,228,725.49

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

Symbol 7UP

No. of Deals 26 26

Current Price 86.77

Quantity Traded 120,698 120,698

Value Traded 11,240,229.10 11,240,229.10

No. of Deals 45 63 64 29 49 (Equities) 1 7 258

Current Price 9.30 9.05 77.95 3.63 12.49 13.51 0.54

Quantity Traded 280,522 902,964 630,246 1,122,737 1,914,442 3,500 514,339 5,368,750

Value Traded 2,595,178.27 8,251,143.20 47,253,454.80 4,099,041.44 22,890,487.94 44,940.00 279,703.63 85,413,949.28

Symbol CADBURY NESTLE

No. of Deals 39 71 110

Current Price 85.40 1,026.35

Quantity Traded Page 102,701 64,068 166,769

3Value Traded of 13

Household Durables VITAFOAM NIG PLC. Household Durables Totals

Symbol VITAFOAM

No. of Deals 22 22

Current Price 4.07

Quantity Traded 647,133 647,133

Value Traded 2,633,856.24 2,633,856.24

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

Symbol PZ UNILEVER

No. of Deals 14 59 73

Current Price 34.00 44.65

Quantity Traded 73,781 248,529 322,310

Value Traded 2,383,126.30 11,131,956.82 13,515,083.12

8,867,384

430,918,748.64

Quantity Traded 7,835,632 35,541,638 5,104,824 2,271,182 10,625,797 1,265,885 15,577,037 13,810,346

Value Traded 59,506,260.28 230,651,183.60 69,192,492.55 4,708,590.58 247,292,359.22 4,532,148.22 34,333,847.82 96,644,228.94

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON Daily Summary UNIONDICON UTC

Activity Summary on Board EQTY CONSUMER GOODS

Food Published by The Products--Diversified Nigerian Stock Exchange ©

CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. Daily Summary as of 17/03/2014 DIAMOND BANK PLC Printed 17/03/2014 16:04:05.005 ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE PLC Daily Summary as ofBANK 17/03/2014 STERLING BANK PLC. Printed 17/03/2014 16:04:05.005 UNITED BANK FOR AFRICA PLC Activity Summary on Board EQTY FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Banking UNION BANK NIG.PLC. UNITY BANK on PLCBoard EQTY Activity Summary

FINANCIAL SERVICES Banking WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. GREAT NIGERIAN INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC MANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC UNIC INSURANCE PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Daily Summary as of Carriers, 17/03/2014 Insurance Brokers and Services Totals Printed 17/03/2014 16:04:05.005 Micro-Finance Banks Published by The Nigerian Stock Exchange © NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services UNION HOMES SAVINGS AND LOANS PLC.

Activity Summary on Board EQTY

Published by The Nigerian Stock Exchange © FINANCIAL SERVICES Mortgage Carriers, Brokers and Services Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

698 Symbol No. of Deals ACCESS 148 DIAMONDBNK 120 ETI 105 FIDELITYBK 67 GUARANTY 242 SKYEBANK 27 Daily Summary (Equities) STERLNBANK 48 UBA 199

Daily Summary (Equities) Symbol No. of Deals UBN UNITYBNK

HEALTHCARE Totals

Published by The Nigerian Stock Exchange ©

Page

Current Price 10.20 0.50

Quantity Traded 823,819 192,925

Value Traded 8,242,569.55 96,462.50

No. of Deals 32 469 1,517

Current Price 0.97 21.38

Quantity Traded 1,398,540 16,040,833 110,488,458

Value Traded 1,364,628.80 336,955,965.40 1,093,520,737.46

Symbol AIICO CONTINSURE CORNERST GNI INTENEGINS MANSARD NEM NIGERINS OASISINS UNIC UNITYKAP WAPIC

No. of Deals 30 5 5 5 9 6 21 2 4 1 1 66 155

Current Price 0.76 1.00 0.54 0.50 0.56 2.25 0.75 0.50 0.56 0.50 0.50 0.76

Quantity Traded 2,551,054 407,000 39,000 511,941 831,525 503,112 2,304,370 116,796 2,120,000 420 9,817 8,062,228 17,457,263

Value Traded 1,946,658.52 407,000.00 20,580.00 255,989.71 463,050.75 1,131,357.18 1,732,982.00 58,398.00 1,266,400.00 210.00 4,908.50 6,139,511.10 13,427,045.76

Symbol NPFMCRFBK

No. of Deals 6 6

Current Price 0.77

Quantity Traded Page 388,250 388,250

No. of Deals 1

Current Price 0.50

Quantity Traded 19,000

Daily Summary (Equities)

Page

Quantity Traded 19,000

Value Traded 9,500.00

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 11 8 569 44 2 27 53 714

Current Price 3.22 2.01 11.66 3.28 0.59 20.35 2.40

Quantity Traded 234,413 100,500 35,017,140 560,819 80,000 325,680 5,367,220 41,685,772

Value Traded 754,969.86 201,305.00 408,463,812.67 1,833,992.66 46,000.00 6,522,038.21 12,886,334.50 430,708,452.90

170,038,743

1,537,960,613.61

Quantity Traded 56,000 2,103,055 331,051 261,902 50 2,752,058

Value Traded 130,480.00 6,328,740.35 23,176,126.44 511,089.88 84.00 30,146,520.67

2,752,058

30,146,520.67

No. of Deals 3 30 18 15 1 67 67

Current Price 2.33 3.00 70.00 1.94 1.76

Page

SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Daily Summary as of 17/03/2014 Courier/Freight/Delivery Printed 17/03/2014 16:04:05.005 RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Symbol CHAMS

No. of Deals 3 3

Current Price 0.50

Quantity Traded 37,020 37,020

Value Traded 18,510.00 18,510.00

937,620

634,918.00

Current Price 15.20 9.01 45.00 8.76 233.60 1.34 1.90 4.88 111.00

Quantity Traded 793,399 133,330 16,503 90,430 47,856 13,000 1,000 70,000 290,742 1,456,260

Value Traded 12,124,442.67 1,203,589.00 712,346.00 755,877.40 11,235,407.50 17,900.00 1,810.00 341,600.00 32,218,426.00 58,611,398.57

Current Price 1.74

Quantity Traded 50,050

Value Traded 87,096.00

10 Symbol ASHAKACEM BERGER CAP CCNN DANGCEM DNMEYER PAINTCOM PORTPAINT WAPCO

No. of Deals 29 21 13 18 24 7 2 4 30 148 Daily Summary (Equities) Symbol No. of Deals CUTIX 2 Symbol NIWICABLE

No. of Deals 1 3

Current Price 0.50

Quantity Traded Page 40 50,090

Symbol AVONCROWN BETAGLAS

No. of Deals 2 2 4

Current Price 1.55 19.02

Quantity Traded 15,624 885 16,509

Value Traded 24,217.20 16,339.75 40,556.95

1,522,859

58,739,071.52

Symbol ALEX

No. of Deals 1 1

Current Price 10.50

Quantity Traded 20 20

Value Traded 199.60 199.60

199.60

Symbol JAPAULOIL

No. of Deals 23 23

Current Price 0.50

Quantity Traded 1,339,210 1,339,210

Value Traded 669,605.00 669,605.00

Current Price 15.35

Quantity Traded 12,373,467 12,373,467

Value Traded 189,974,802.34 189,974,802.34

Current Price 51.90 3.85 98.80 120.90 54.44 159.03

Quantity Traded 1,185 242,725 150,000 33,984 50 67,326 495,270

155

Daily Summary (Equities) Symbol No. of Deals OANDO

171 171

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 7 15 16 19 1 32 90

Value Traded 58,432.35 941,570.95 14,820,000.00 4,058,130.00 2,586.00 10,745,333.02 30,626,052.32

14,207,947

221,270,459.66

Quantity Traded 15,247 15,247

Value Traded 19,668.63 19,668.63

Symbol REDSTAREX TRANSEXPR

No. of Deals 13 3 16

Current Price 4.40 2.75

Quantity Traded 381,977 20,000 401,977

Value Traded 1,654,398.60 52,400.00 1,706,798.60

Symbol CILEASING

No. of Deals 6 6

Current Price 0.50

Quantity Traded 536,447 536,447

Value Traded 268,223.50 268,223.50

Symbol TANTALIZER

No. of Deals 1 1

Current Price 0.50

Quantity Traded 100 Page 100

Hotels/Lodging IKEJA HOTEL PLC TOURIST COMPANY OF NIGERIA PLC. Hotels/Lodging Totals

Symbol IKEJAHOTEL TOURIST

No. of Deals 4 4 8

Current Price 0.69 4.08

Quantity Traded 45,184 30,000 75,184

Value Traded 29,836.44 116,400.00 146,236.44

Media/Entertainment DAAR COMMUNICATIONS PLC Media/Entertainment Totals

Symbol DAARCOMM

No. of Deals 5 5

Current Price 0.50

Quantity Traded 15,000 15,000

Value Traded 7,500.00 7,500.00

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 1 1 13 15

Current Price 1.80 1.72 3.69

Quantity Traded 26,000 20 193,812 219,832

Value Traded 44,460.00 35.00 729,603.78 774,098.78

Symbol ABCTRANS

No. of Deals 12 12

Current Price 0.91

Quantity Traded 914,914 914,914

Value Traded 833,355.42 833,355.42

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

Value Traded 66,115.00 66,115.00

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals Daily Summary as of 17/03/2014 Road Transportation Printed 17/03/2014 16:04:05.005 ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Daily Summary (Equities)

NSLTECH

10 10

0.50

No. of Deals 2 48 50

Current Price 2.93 4.99

Activity Summary on Board EQTY

SERVICES Published by The Nigerian Stock Exchange © Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

132,230 132,230

Page Quantity Traded 10,950 474,967 485,917

Value Traded 50.00 of 13 50.00

11 of 13 Value Traded 30,550.50 2,388,324.30 2,418,874.80

127

2,796,848

6,240,921.17

4,089

219,699,784

2,411,770,094.46

Quantity Traded 5,195 5,195

Value Traded 2,597.50 2,597.50

5,195

2,597.50

Activity Summary on Board ASeM OIL AND GAS Petroleum and Petroleum Products Distributors CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals

Symbol CAPOIL

No. of Deals 2 2

OIL ANDas GAS Totals Daily Summary of 17/03/2014 Printed 17/03/2014 16:04:05.005

Current Price 0.50

ASeM Board Totals

5,195

2,597.50

Equity Activity Totals

4,091

219,704,979

2,411,772,691.96

Exchange Traded Fund

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

Current Price 1.35

Specialty SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

Value Traded of 20.0013 87,116.00

No. of Deals 4 4

SERVICES Hospitality TANTALIZERS PLC Published by The Nigerian Stock Exchange © Hospitality Totals

284

Page

Symbol RTBRISCOE

Employment Solutions C & I LEASING PLC. Activity Summary on Board EQTY Employment Solutions Totals

Value Traded 9,500.00

Current Price

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

Value Traded 616,408.00 616,408.00

OIL AND GAS Totals

Value Traded of 13 294,877.49 294,877.49

No. of Deals 1

2,393

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Symbol

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

55 5

Current Price 7.70 6.50 13.65 2.07 22.67 3.58 2.24 6.99

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

OIL GAS Published byAND The Nigerian Stock Exchange ©

8,497,994.06 61,133,555.85 69,631,549.91

Symbol WEMABANK ZENITHBANK

Symbol UNHOMES

Quantity Traded 900,600 900,600

Activity Summary on Board EQTY

No. of Deals 7

DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals

Current Price 0.70

INDUSTRIAL GOODS Totals

Symbol

Daily Summary of 17/03/2014 Food as Products DANGOTE FLOUR MILLS PLC Printed 17/03/2014 16:04:05.005

Electronic and Electrical Products

CUTIX PLC. on Board EQTY Activity Summary

Published by The NigerianWIRE Stock AND Exchange © PLC. NIGERIAN CABLE

Value Traded 255,355.50

Page

Published by The Nigerian Stock Exchange © Activity Summary on Board EQTY CONSUMER GOODS Automobiles/Auto Parts Automobiles/Auto Parts Totals

No. of Deals 7 7

ICT Totals

Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals

Symbol COURTVILLE

Daily Summary (ETP) Symbol NEWGOLD VETGRIF30

No. of Deals 2 4 6

Current Price 2,200.00 17.01

Quantity Traded 160 Page 50,600 50,760

Value Traded 351,890.00 of 13 860,715.00 1,212,605.00

ETF Board Totals

50,760

1,212,605.00

ETP Activity Totals

50,760

1,212,605.00

BUSINESS | FINANCIAL MARKET NEWS 47

Sanctity of Truth

Tuesday, March 18, 2014

FMDQ Daily Quotations List

17-Mar-14

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

Bonds

FGN Bonds Issuer

Rating/Agency

Description 10.75 31-MAR-2014 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 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

31-Mar-07 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 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

10.75 9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 15.00 12.49 8.50 10.00

35.00 45.00 100.00 535.00 327.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 150.00 200.00 591.57

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

0.04 0.28 0.53 1.10 2.42 3.11 3.36 3.46 4.20 5.29 5.60 7.87 14.70 15.18 15.68 16.35

13.79 13.83 14.52 14.21 14.52 14.34 14.24 14.24 14.21 14.24 14.15 14.11 13.72 13.70 13.68 13.70

10.06 13.29 14.21 14.05 14.45 14.22 14.12 14.12 14.10 14.17 14.05 14.06 13.68 13.65 13.61 13.64

99.86 98.65 97.39 89.90 97.05 101.80 88.53 87.00 89.13 106.30 72.95 110.55 107.92 92.30 66.88 76.05

100.01 98.80 97.54 90.05 97.20 102.10 88.83 87.30 89.43 106.60 73.25 110.85 108.22 92.60 67.18 76.35

TOTAL OUTSTANDING VALUE Rating/Agency

4,117.04 Issuer

Agency Bonds AMCON FMBN

Price

***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

TOTAL OUTSTANDING VALUE

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

0.62 1.19 1.55 2.73 3.09 3.30

1.00 2.63 2.27 2.00 1.49 1.00

15.60 17.43 16.86 16.28 15.75 15.25

91.09 82.00 100.60 88.79 85.79 84.26

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 06-Jan-21

0.39 0.58 1.46 0.83 1.36 1.36 3.09 1.92 3.79 2.57 4.55 2.77 2.77 3.35 3.23 5.69 3.38 4.09 6.70 4.10 4.13

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 1.44 1.95

19.18 20.55 19.08 18.00 19.16 18.17 19.85 21.97 16.02 16.09 15.19 15.27 15.48 15.24 16.71 16.09 16.98 16.95 15.10 15.65 16.16

98.02 96.54 91.95 95.67 94.29 97.21 78.00 87.98 94.37 95.74 96.16 98.52 104.44 98.18 97.15 94.17 94.63 93.88 93.32 101.63 101.29

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

0.56 0.76 0.79 0.94 1.02 1.10 2.54 2.61 3.54 2.16 2.06 2.48 2.48 4.52 2.34 2.67 6.66

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

15.54 19.91 23.44 19.74 15.90 17.48 15.29 15.62 18.76 16.19 17.80 19.49 19.35 17.25 16.59 20.39 16.87

97.89 95.62 95.47 92.15 96.61 96.96 95.32 97.10 85.56 104.29 97.03 97.36 101.78 90.07 98.56 93.73 93.61

11-Feb-18

3.91

1.00

15.22

85.58

Bid Price

Offer Price

1,304.32

Sub-National Bonds Bbb-/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR Bb+/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 A-/GCR

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

TOTAL OUTSTANDING VALUE

567.90

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 BB+/DataPro; BB+/GCR A+/Agusto; A-/GCR

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

IFC

10.20 IFC 11-FEB-2018

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

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

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

5.70

5.55

105.88

106.74

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.83

4.63

101.13

101.90

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

6.12

5.99

101.81

102.70

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

Corporate Eurobonds Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.91

3.32

113.50

114.67

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.22

4.70

104.59

105.70

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.36

6.08

98.57

99.67

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.33

6.94

99.74

100.89

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.44

8.03

94.63

96.00

B/Fitch

Afren PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.27

4.69

114.17

115.41

B/S&P; B-/Fitch

First Bank PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.41

6.88

103.09

105.09

B+/S&P; B+/Fitch

Afren PLC III

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.54

6.29

100.33

101.36

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

TOTAL OUTSTANDING VALUE

2,960.00

**Treasury Bills DTM 10 17 24 31 38 52 59 66

FIXINGS Maturity 27-Mar-14 3-Apr-14 10-Apr-14 17-Apr-14 24-Apr-14 8-May-14 15-May-14 22-May-14

Bid Discount (%) 13.00 13.20 13.10 13.25 13.25 13.15 13.20 13.20

Offer Discount (%) 12.75 12.95 12.85 13.00 13.00 12.90 12.95 12.95

Bid Yield (%) 13.05 13.28 13.21 13.40 13.44 13.40 13.49 13.52

Tenor CALL 7 DAYS 30 DAYS 60 DAYS 90 DAYS 180 DAYS 365 DAYS

NIBOR

Money Market Rate (%) 17.3750 17.4583 17.7083 17.8750 18.1250 18.3750 18.6667

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

16.50

Tenor

Bid ($/N)

Offer ($/N)

17.08

Spot 7D 14D 1M 2M 3M

164.57 165.09 165.35 165.98 166.89 168.74

164.67 165.37 165.74 166.73 168.48 171.44

O/N Tenor Call 1M

REPO

Rate (%) 16.67 18.17

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 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

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

TOTAL OUTSTANDING VALUE 48 BUSINESS | FINANCIAL MARKET NEWS Rating/Agency

Description

Issuer

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

327.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 150.00 200.00 591.57

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

2.42 3.11 3.36 3.46 4.20 5.29 5.60 7.87 14.70 15.18 15.68 16.35

14.52 14.34 14.24 14.24 14.21 14.24 14.15 14.11 13.72 13.70 13.68 13.70

14.45 14.22 14.12 14.12 14.10 14.17 14.05 14.06 13.68 13.65 13.61 13.64

97.05 101.80 88.53 87.00 89.13 106.30 72.95 110.55 107.92 92.30 66.88 76.05

97.20 102.10 88.83 87.30 89.43 106.60 73.25 110.85 108.22 92.60 67.18 76.35

4,117.04

Sanctity of Truth

Tuesday, March 18, 2014

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

0.62 1.19 1.55 2.73 3.09 3.30

1.00 2.63 2.27 2.00 1.49 1.00

15.60 17.43 16.86 16.28 15.75 15.25

91.09 82.00 100.60 88.79 85.79 84.26

30-Sep-13 27-Nov-13 31-Dec-13 06-Jan-14

14.75 13.50 14.50 15.00

11.40 87.00 5.00 5.00

30-Sep-20 27-Nov-20 31-Dec-20 06-Jan-21

4.09 6.70 4.10 4.13

2.74 1.00 1.44 1.95

16.95 15.10 15.65 16.16

93.88 93.32 101.63 101.29

11.80

07-Oct-14

0.56

1.00

15.54

97.89

18-Dec-14 31-Dec-14 17-Aug-15

0.76 0.79 0.94

5.21 8.71 4.88

19.91 23.44 19.74

95.62 95.47 92.15

4.83

4.63

101.13

101.90

12-Jul-23

6.12

5.99

101.81

102.70

Stock market opens on negative trajectory Agency Bonds

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

AMCON FMBN

BEARISH TOTAL OUTSTANDING VALUE

***LCRM

The bears had Bonds a field day Sub-National Bbb-/Agusto at theA-/GCR Nigerian Stock KWARA NIGER A+/Agusto KADUNA Exchange (NSE) yesterday. A/Agusto *EBONYI Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR Bb+/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 A-/GCR

Stories by Chris Ugwu LAGOS

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

rading activities on the floor of the Nigerian Stock Exchange (NSE) continued on the downward trends as the bears yesterday

strengthened their stronghold, following price losses suffered by major blue chip companies. 14.00 KWARA 5-AUG-2014 Specifically, at close of 14.00 NIGER 15-OCT-2014 transactions, the 12.50 KADUNA 31-AUG-2015 banking 13.00 EBONYI 30-SEP-2015 sub-sector remained the most 14.00 BENUE 30-JUN-2016 IMO 30-JUN-2016 active15.50 stock in volume terms 10.00 LAGOS 19-APR-2017 with 13.75 110.4 million shares valBAYELSA 30-JUN-2017 14.00N1.09 EDO 31-DEC-2017 ued at billion in 1,517 14.00 DELTA 30-SEP-2018 deals14.00 followed by other finanNIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 cial services sub-sector with 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 41.6 million units valued at 15.50 GOMBE 02-OCT-2019 N430.7 million in 714 deals. 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 Precisely, transactions in 14.75 OSUN II 30-SEP-2020 the shares of Diamond Bank 13.50 LAGOS IV 27-NOV-2020

and Zenith Bank enhanced the market capitalisation depreactivities in the banking sub- 1,304.32 ciated by N91 billion or 0.75 per sector. cent to close at N12.170 trillion. 14.00 05-Aug-14 0.39 On05-Aug-09 the whole, investors ex- 17.00 When the closing bell rang, 15-Oct-09 14.00 6.00 15-Oct-14 0.58 changed a total of 219.7 milthe stock market recorded 31-Aug-10 12.50 8.50 31-Aug-15 1.46 sev30-Sep-10 13.00 16.50 30-Sep-15 0.83 lion shares valued at N2.4 bilen gainers as against 37 others 30-Jun-11 14.00 13.00 30-Jun-16 1.36 30-Jun-09 15.50 18.50 30-Jun-16 lion in 4,091 transactions. that depleted in price. 1.36 19-Apr-10 10.00 57.00 19-Apr-17 3.09 Further gainers’ chart 30-Jun-10 analysis 13.75showed 50.00 Top on the 30-Jun-17 1.92 was 30-Dec-10 14.00 3.79 that at the close of trading 25.00 one of the 31-Dec-17 leading commercial 30-Sep-11 14.00 50.00 30-Sep-18 2.57 session, the NSE All-Share banks, Stanbic IBTC with a 04-Oct-11 14.00 9.00 04-Oct-18 4.55 09-Dec-11 14.50 20.00 09-Dec-18 2.77 Index12-Dec-13 was down by 282.85 basis gain of 4.36 per cent to close at 14.00 12.00 12-Dec-18 2.77 15.50 to close 27.00 3.35 points14-Feb-12 or 0.75 per cent N20.35 per 14-Feb-19 02-Oct-12 15.50 20.00 02-Oct-19 3.23 at 37,888.47 Flour Mills 22-Nov-12 as against 14.5038,171.32 80.00 share while 22-Nov-19 5.69 Nig 12-Dec-12 14.75 12-Dec-19 3.38 recorded the previous day, while 30.00 Plc, a consumer goods company ,

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

INNOVATION

MTN, Ecobank partner on mobile financial services TOTAL OUTSTANDING VALUE Corporate Bonds

A+/Agusto; AA/GCR

LAFARGE WAPCO

Aa/Agusto Nil

GTB µ NGC

Bloomberg and FMDQ 07-Oct-11 11.50 have18-Dec-09 scored another first 13.50

11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014

Bbb+/Agusto TN and Ecobank*UPDC have A-/Agusto *FLOURMILLS BB+/GCR partnered to improve *CHELLARAMS A+/Agusto; A-/GCR access to mobile NAHCO finanA-/Agusto FSDH A/GCR UBA cial services in the African BBB-/GCR *C & I LEASING continent. BBB+/DataPro; BB+/GCR *DANA BB-/GCR *TOWER BothA-/DataPro; pan-African multinaAAA/DataPro; A+/GCR *TOWER tionalsA/Agusto; haveA/GCR extendedUBA finanBbb+/Agusto; BBB+/GCR *LAtheir CASERA cial services in several of BB+/DataPro; BB+/GCR *CHELLARAMS markets, with MTN's Mobile A+/Agusto; A-/GCR NAHCO OUTSTANDING VALUE MoneyTOTAL registered subscriber Supranational Bond base growing 57.3 per cent to AAA/S&P IFC 14.8 million in 2013. TOTAL OUTSTANDING VALUE Pieter Verkade, MTN Group Rating/Agency Issuer Chief Commercial Officer, speaking on the partnership FGN Eurobonds said: "We are extending our BB-/Fitch; B+/S&P co-operation in Africa to exBB-/Fitch; FGN #

# #

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

10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016

pand the range of services provided, as well as to further 13.00 NAHCO 29-SEP-2016 explore the25-OCT-2016 development of 14.25 FSDH 13.00 financial UBA 30-SEP-2017 services in mobile 18.00 C&I LEASING 30-NOV-2017 theseMPR+7.00 countries. MTN is parDANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 ticularly excited by this agreeMPR+5.25 TOWER 9-SEP-2018 ment14.00 as it in perfectly with UBAfits II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 our on-going efforts to improve MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 II 14-NOV-2020 access toNAHCO financial services for our customers and broader communities in the countries 10.20 IFC 11-FEB-2018 where we operate. “MTN and Ecobank are also Description looking to partner in developing a unique mobile savings offering within their countries 6.75 JAN 28, 2021 of mutual presence. 5.13 JUL 12, 2018

FMDQ, Bloomberg launch e-trading platform for bonds

567.90

01-Apr-10 17-Aug-10

17.00 10.00

13.17 2.00 15.00

01-Apr-10

6.38

500.00

tronic trading and market and liquidity, FMDQ believe 09-Dec-10 12.00 37.50 09-Dec-15 1.02 1.00 15.90 96.61 06-Jan-11 14.00 06-Jan-16 1.10 2.63 17.48 loomberg and FMDQ OTC 1.50 surveillance tools for particithe introduction of96.96 the Bloom29-Sep-11 13.00 15.00 29-Sep-16 2.54 1.00 15.29 95.32 Plc have inaugurated pants in Nigeria's N12 trillion berg E-Bond system will help 25-Oct-13 14.25 5.53 25-Oct-16 2.61 1.34 15.62 97.10 13.00 30-Sep-17 market. 3.54 4.52 18.76 a30-Sep-10 new electronic trad- 20.00 fixed income it to achieve those85.56 aims and 30-Nov-12 18.00 0.94 30-Nov-17 2.16 1.88 16.19 104.29 ing system Nigerian 8.01 Dipo Odeyemi, Divisional that the company was 09-Apr-11 for the16.00 09-Apr-18 2.06 3.48 17.80 97.03 pleased 09-Sep-11 09-Sep-18 97.36 government bonds18.00 that com- 3.63 Head, Operations and2.48Tech- 5.20 to work 19.49 with Bloomberg to 09-Sep-11 16.00 1.00 09-Sep-18 2.48 5.06 19.35 101.78 menced operation under FMnology, FMDQ OTC Plc, combring it to the Nigerian fixed 22-Sep-11 14.00 35.00 22-Sep-18 4.52 3.06 17.25 90.07 15.75 18-Oct-18 2.34 16.59 98.56 DQ's 18-Oct-13 over-the-counter (OTC) 3.00 menting on the launch said 2.29 income market. 17-Feb-12 17.00 0.54 17-Feb-19 2.67 6.11 20.39 93.73 market securities exchange as a newly established OTC The Bloomberg 14-Nov-13 15.25 2.05 14-Nov-20 6.66 2.76 16.87 93.61 E-Bond 175.67 yesterday. market securities exchange, system, according to a stateKnown as Bloomberg E- the company goal was to ment, provides a complete, 10.20 3.91 15.22 85.58 Bond11-Feb-13 trading and market sur- 12.00 empower 11-Feb-18 the Nigerian OTC 1.00 consolidated marketplace for 12.00 veillance system, jointly de- financial markets to be effi- Nigerian government bonds, Issue by Date Bloomberg, Coupon (%)FMDQ Issue Value ($'mm) credible Maturity DateandBid Yield (%) Offer Yield (%) Bidmarket Price Offer Price veloped cient, globally offering participants and the local market-maker competitive. aPrices robust and flexible set of & Yields community, the Bloomberg He noted that with its potools supporting the full trade 07-Oct-11 6.75 500.00 28-Jan-21 5.70 5.55 105.88 106.74 E-Bond system provides electential to drive transparency workflow. 18-Dec-09 5.13 500.00 12-Jul-18

6.38 JUL 12, 2023

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

followed with a gain of 2.57 per cent to close at N77.95 per share. Access Bank Plc gained 2.53 per 4.88 19.18 98.02 cent to close at N7.70 per share. 5.99 20.55 96.54 On the other hand, 4.44 19.08 91.95 African 3.23 18.00 95.67 Prudential Plc led on the price 4.46 19.16 94.29 3.48 18.17 dropping 97.21 by 9.80 losers' table, 5.59 19.85 78.00 per cent 21.97 to close at N3.22 per 7.60 87.98 1.79 16.02 94.37 share while 1.80 16.09 95.74 Cement Plc 1.00 Ashaka 15.19 96.16 followed 1.00 15.27 98.52 with a loss of 5.94 per cent to 1.21 15.48 104.44 1.00 15.24 close at N15.20 per98.18 share and 2.46 16.71 97.15 Fidelity Bank Plc with 1.94 16.09 94.17 5.05 per 2.74 16.98 94.63 cent to close at N2.07 per share.

17-Mar-14

1,500.00

Corporate The FMDQ Daily Eurobonds Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject to 01-Feb-11 11.50 450.00 01-Feb-16 B-/S&P; B/Fitch I Disclaimer Statement.11.50 FEB 01, 2016 3.91 3.32 113.50 114.67 and the FMDQ OTC PLC Terms ofAfren UsePLC B+/S&P; B+/Fitch B+/S&P FGN Bonds

B/S&P; B/Fitch

B/Fitch Rating/Agency

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

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

Fidelity Bank PLC

09-May-13

Coupon (%)

Description

Afren PLC III

10.75 31-MAR-2014 6.63 DEC 09, 2020 31-Mar-07 9.20 29-JUN-2014 29-Jun-07 9.25 28-SEP-2014 28-Sep-07 4.00 23-APR-2015 23-Apr-10 Bid Discount (%) Offer Discount (%) 13.05 16-AUG-2016 16-Aug-13 13.00 12.75 15.10 27-APR-2017 27-Apr-12 13.20 12.95 9.85 27-JUL-2017 27-Jul-07 13.10 12.85 9.35 31-AUG-2017 31-Aug-07 13.25 13.00 13.25 13.00 10.70 30-MAY-2018 30-May-08 13.15 12.90 16.00 29-JUN-2019 29-Jun-12 13.20 12.95 7.00 23-OCT-2019 23-Oct-09 13.20 12.95 16.39 27-JAN-2022 27-Jan-12 13.20 12.95 13.20 12.95 15.00 28-NOV-2028 28-Nov-08 13.05 12.80 12.49 22-MAY-2029 22-May-09 13.40 13.15 8.50 20-NOV-2029 20-Nov-09 13.40 13.15 10.00 23-JUL-2030 23-Jul-10 13.40 13.15

First Bank PLC

TOTAL OUTSTANDING VALUE **Treasury Bills

DTM 10 17 24 31 38 52 59 66 73 80 94 101 108 115 122 TOTAL OUTSTANDING 143 171 262 297 Rating/Agency 311 325 Agency Bonds 339 353

6.88 MAY 09, 2018 10.25 APR 08, 2019

Afren PLC II Issuer

VALUE

Maturity 27-Mar-14 3-Apr-14 10-Apr-14 17-Apr-14 24-Apr-14 8-May-14 15-May-14 22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 7-Aug-14 4-Sep-14 4-Dec-14 Issuer8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15

Issue Date

8.25 AUG 07, 2020

13.40 13.45 13.50 13.10 13.40Description 13.45 13.50 13.45 13.65

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 NA 0.00/16.00 *from the Amortising bonds, the average life is calculated andLCRM not the09-DEC-2016 duration # ***LCRM LCRM II 20-APR-2017 Risk Premium is a combination of credit risk and 0.00/16.50 liquidity risk premiums 0.00/16.50 LCRM III 06-JUL-2017 **Exclusive of non-trading t.bills AMCON

13.15 13.20 13.25 12.85 13.15 13.20 13.25 13.20 13.40

TOTAL OUTSTANDING VALUE

500.00

19-May-16

5.22

4.70

104.59

6.00

400.00

08-Nov-18

6.36

6.08

98.57

7.25

350.00

25-Jul-17

7.33

6.94

99.74

300.00

02-May-18

8.44

8.03

300.00

08-Apr-19

300.00

07-Aug-20

6.88

07-Aug-13 09-Dec-13 10.75

Maturity Date

6.63 360.00 35.00 31-Mar-14 2,960.00 45.00 29-Jun-14 100.00 28-Sep-14 535.00 FIXINGS 23-Apr-15 NIBOR 327.47 16-Aug-16 Tenor Rate (%) 452.80 27-Apr-17 CALL 17.3750 27-Jul-17 720.00 DAYS 17.4583 100.00 31-Aug-17 30 DAYS 17.7083 60 DAYS 17.8750 300.00 30-May-18 90 DAYS 18.1250 351.30 29-Jun-19 180 DAYS 18.3750 233.90 23-Oct-19 365 DAYS 18.6667 600.00 27-Jan-22 75.00 28-Nov-28 NITTY 150.00 22-May-29 Tenor Rate (%) 200.00 20-Nov-29 1M 13.4555 591.57 23-Jul-30 2M 13.5002

9.20 9.25 4.00 Bid Yield (%) 13.05 13.05 15.10 13.28 9.85 13.21 9.35 13.40 13.44 10.70 13.40 16.00 13.49 7.00 13.52 16.39 13.56 13.59 15.00 13.50 12.49 13.92 8.50 13.95 10.00 13.99

14.03 14.20 14.41 14.46 Issue15.04 Date 15.19 15.34 15.37 15.73

3M 4,117.04 6M

5.27 Bid Yield (%) 7.41

09-Dec-20 0.04

6.5413.79 0.28 13.83 0.53 14.52 Money Market 1.10 14.21 Tenor Rate (%) 2.42 14.52 OBB 16.5014.34 3.11 3.36 14.24 O/N 17.08 3.46 14.24 4.20REPO 14.21 Tenor Rate (%) 5.29 14.24 Call 16.67 1M5.60 18.1714.15 3M7.87 19.1714.11 6M14.70 19.7513.72 15.18 13.70 NOTE: 15.68 13.68 16.35 13.70 :Benchmarks

99.67

100.89 Price

Offer 4.69

94.63

96.00

114.17

6.88

103.09

115.41 Offer

Yield (%)

Bid Price

105.09

112.22 116.70 66.49

09-Dec-16 20-Apr-17 06-Jul-17

Price

6.29 10.06

100.33 99.86 101.36 100.01 13.29 98.65 98.80 14.21 97.39 97.54 14.05 89.90 Foreign Exchange (Spot & Forwards) 90.05 14.45 97.05 97.20 Tenor14.22 Bid ($/N)101.80 Offer ($/N)102.10 Spot 14.12 164.57 88.53 164.67 88.83 7D 14.12 165.09 87.00 165.37 87.30 14D 14.10 165.35 89.13 165.74 89.43 1M 14.17 165.98 106.30 166.73 106.60 2M 166.89 168.48 3M 14.05 168.74 72.95 171.44 73.25 6M 14.06 172.28 110.55 176.51 110.85 1Y 13.68 179.24 107.92 188.49 108.22 13.65 92.30 92.60 13.61 66.88 67.18 13.64 NA :Not Applicable 76.05 76.35

* :Amortising Bond # :Floating Rate Bond µ :Convertible Bond ***: Deferred coupon bonds 9M AMCON: Asset Management Corporation of Nigeria # 12M FGN: Federal Government of Nigeria expired Risk†: Bond rating Valuation Avg.ofLife/TTM Federal Mortgage Bank Nigeria Coupon (%) Issue Value (N'bn)FMBN:Maturity Date Premium (Yrs) IFC: International Finance Corporation Yield (%) LCRM: Local Contractors Receivables Management(%) NIFEX NAHCO: Nigerian Aviation Handling Company Current Price ($/N) NGC: Nigeria-German Company 978.35 31-Oct-14 0.62 1.00 15.60 BID($/N) 0.00 164.7850 UBA: United Bank for Africa OFFER ($/N) 164.8850 UPDC: UAC Property Development Company 0.00 24.56 24-May-15 1.19 2.63 17.43 WAPCO:West Africa Portland Cement 17.25 6.00 03-Apr-17 1.55 Company 2.27 16.86

0.00/16.00 0.00/16.50 0.00/16.50

13.6774 14.3991 14.6019 16.0058

TTM (Yrs)

105.70

2.73 3.09 3.30

2.00 1.49 1.00

0.39 0.58 1.46 Implied Yield 0.83 1.36 14.41 1.36 14.15 3.09 13.70 1.92 14.01 3.79 2.57 4.55 2.77 2.77 3.35 3.23 5.69 3.38 4.09 6.70 4.10 4.13

4.88 5.99 Implied4.44 Portfolio Price 3.23 4.46 106.3980 3.48 116.8759 5.59 82.57627.60 104.6226 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.44 1.95

16.28 15.75 15.25

Indicative Price 91.09 82.00 100.60 88.79 85.79 84.26

1,304.32

Sub-National Bonds KWARA 14.00 KWARA 5-AUG-2014 NIGER 14.00 NIGER 15-OCT-2014 Porfolio Market KADUNA Modified Duration 12.50 KADUNA 31-AUG-2015 Buckets *EBONYI 13.00 EBONYIValue(Bn) 30-SEP-2015 *BENUE 14.00 BENUE 30-JUN-2016 <3 778.76 *IMO 15.50 IMO 30-JUN-2016 3<5 1,036.73 LAGOS 10.00 LAGOS 19-APR-2017 >5 449.89 *BAYELSA 13.75 BAYELSA 30-JUN-2017 Market 14.00 EDO 31-DEC-2017 2,265.38 EDO *DELTA 14.00 DELTA 30-SEP-2018 NIGER 14.00 NIGER II 4-OCT-2018 *EKITI 14.50 EKITI 09-DEC-2018 *NIGER 14.00 NIGER III 12-DEC-2018 *ONDO 15.50 ONDO 14-FEB-2019 *GOMBE 15.50 GOMBE 02-OCT-2019 LAGOS 14.50 LAGOS 22-NOV-2019 *OSUN 14.75 OSUN 12-DEC-2019 *OSUN 14.75 OSUN II 30-SEP-2020 LAGOS 13.50 LAGOS IV 27-NOV-2020 *EKITI 14.50 EKITI II 31-DEC-2020 *NASARAWA 15.00 NASARAWA 06-JAN-2021

7.50

Outstanding 10.25 Value (N'bn) 8.25

08-Apr-12

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

FMBN

Bbb-/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR Bb+/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 A-/GCR

Bonds

FMDQ FGN BOND INDEX

Total Outstanding Volume(Bn)

780.27 951.30 591.57 2,323.14

05-Aug-09 15-Oct-09 31-Aug-10 Weighting by Outstanding 30-Sep-10 Vol 30-Jun-11 30-Jun-0933.59 19-Apr-1040.95 30-Jun-1025.46 100.00 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 06-Jan-14

14.00 14.00 12.50by Mkt Weighting Value 13.00 14.00 15.50 34.38 10.00 45.76 13.75 19.86 14.00100.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 14.50 15.00

17.00 6.00 8.50 Bucket Weighting 16.50 13.00 18.50 0.34 57.00 0.41 50.00 0.25 25.00 1.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00

05-Aug-14 15-Oct-14 31-Aug-15 % Exposure_ Mod_Duration 30-Sep-15 30-Jun-16 17.74 30-Jun-16 40.73 19-Apr-17 41.53 30-Jun-17 100.00 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 06-Jan-21

19.18 98.02 20.55 96.54 19.08 YTD Return91.95 INDEX (%) 18.00 95.67 19.16 94.29 995.21 0.4794 18.17 97.21 989.66 1.0340 19.85 78.00 999.65 0.0348 21.97 87.98 985.51 1.4489 16.02 94.37 16.09 95.74 15.19 96.16 15.27 98.52 15.48 104.44 15.24 98.18 16.71 97.15 16.09 94.17 16.98 94.63 16.95 93.88 15.10 93.32 15.65 101.63 16.16 101.29

BUSINESS | MONEY LINE 49

Sanctity of Truth

Tuesday, March 18, 2014

Union Bank’s five-year strategic plan, by Emuwa FORWARD LOOKING

as significant player within the Nigerian banking industry. “However, after months of hard work during, which we considered our strength as a bank, our challenges and also the landscape within which we operate, we have emerged with a strategy that will guide the bank for the next three to five years. This strategy has been approved by the board of

Union Bank moves to take its pride of place in the banking industry. Ayodele Aminu

nion Bank Nigeria Plc has unveiled a five-year strategic plan that will see the bank becoming a highly respected provider of quality banking services. Group Managing Director of the Bank, Emeka Emuwa disclosed this during an interactive session with the media in Lagos yesterday. Specifically, Emuwa said the bank's strategic ambition would focus on six areas, which he listed to include quality of customer experience; quality of client base; quality of talent; quality of banking platform; quality of professional standards and quality of earnings. He recalled: “Last year, we had two important tasks ahead of us. First, to immediately improve the bank's operations by dealing with existing operational and services and second to develop a roadmap to firmly establish Union bank

Emuwa

Union bank.” The Union Bank boss said

he Central Bank of Nigeria (CBN) has solicited for the cooperation and support of various stakeholders to ensure the success of the new cashless policy in the country. The CBN Governor, Malam Sanusi Lamido Sanusi, made the call while launching sensitisation campaign to the new policy in Kano yesterday. The sensitisation campaign according to the News Agency of Nigeria (NAN) was organised by the CBN in Kano to educate stakeholders on the importance of the policy. The CBN Governor, who was represented by the CBN Kano Branch Controller, Alhaji Muhammad Ladan, said the call

became necessary ‘’if we are to consolidate the improved efficiency of Nigeria’s payment system to contribute to the country’s economic and social development. ``While the CBN is playing a leading role in the development and implementation of this policy the cooperation among our respective stakeholders, is extremely important if we are to ensure its success,’’ he said. He said the new policy was introduced to meet vision 20:2020 requirement and modernise the country’s payment system. He said the introduction of the new policy was also aimed at reducing the cost of banking

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

while additionally 300 ATMs will be installed this year in 338 branches of the bank nationwide.” On the rumours about Union Bank seeking to raise fresh capital, Emuwa said the bank has sufficient capital to fund its restructuring and expansion and will not be seeking further capital in the near to medium term.

Cashless policy: CBN canvasses stakeholders' support

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

the lender remains focused on building on the progress it made in 2013. “One of such was the launch of bank of the future branch in Lagos as well as rolling out over 300 Automated Teller Machines (ATMs),” he said, adding” the bank may not open new branches but roll out future branch model of the bank that would offer convenient banking activities

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

services, improve effectiveness of monetary policy, and foster transparency as well as curb corruption, among other things. He said even though the policy had its challenges, the bank was doing its best to ensure its success in the country. ``It is however, important to stress that this policy intends

to reduce and not eliminate the use of physical cash for payment in Nigeria.’’ ‘’Other ills associated with a cash-centric economy include robberies and cash-related crimes, kidnapping, election rigging, revenue leakage, inefficient treasury management and corruption,’’ Sanusi said.

Women Empowerment: Keystone Bank partners actress

ward-winning actress, Rita Dominic, will be the face of Keystone Bank’s soon to be launched exclusively-for-women account, the Keystone Bank Pink Account. Head, Brand Management, Keystone Bank, Omobolanle Osotule, said this in a statement. She said: “The Keystone Bank Pink Account is a current and savings account for women that are resourceful, innovative and glamorous. “The account is primarily designed for the empowerment of women with entrepreneurial drive and career inclination, to actualise their financial inde-

pendence, lifestyle &domestic needs. “The Pink Account will create avenues for women to network and share ideas through periodic networking events, seminars and workshops, which will be anchored by Rita Dominic as the ambassador of the project.” Osotule explained that the choice of Rita Dominic as the face of the Pink Account “was predicated on her profile as a thoroughbred professional, a dedicated and consummate actress, and a celebrity with role model credentials and of course, because of her entrepreneurial drive.”

AfDB spends $ 3.8bn on road construction, rehabilitation –Official

frican Development Bank (AfDB) has spent 3.8 billion dollars on the construction and rehabilitation of roads and cross-border lines since 2009, Dr Ousmane Dore, the Country Director of the bank, said. Dore spoke yesterday at the ``Regional Consultation and Dialogue Workshop’’ on the MidTerm Review of West Africa Regional Integration Strategy Paper (WA-RISP) in Abuja. He said the bank had also financed more than 70 multinational operations, which had resulted in the execution of projects during the period. According to him, the projects include the reform and

modernisation of customs, strengthening of one-stop border post and implementation of the trade facilitation agreement at the World Trade Organisation. He said that regional integration was one of the core operational priorities if the bank’s ``Ten Year Strategy” to foster the continent’s economic integration and link landlocked countries to international markets. Dore said regional integration was essential for the realisation of the continent’s economic potential to participate in the global economy and to share the benefit of interconnected global market place.

50 WORLD | NEWS

Sanctity of Truth

Tueesday, March 18, 2014

Crimea independence: EU sanctions Russia, Ukraine Sylva Okereke

with Agency Report

uropean Union yesterday sanctioned Russia and Ukraine, deemed as responsible for the breakaway referendum in Crimea, which has fanned the worst East-West tensions since the cold war. Official results from Sunday’s disputed referendum shows 96.77 percent of voters in the mostly Russianspeaking region of Ukraine opted for Kremlin rule. in what would be the most radical re-drawing of the map of Europe, since Kosovo’s declaration of independence from Serbia in 2008. Crimea’s lawmakers, also declared the Russian ruble as the peninsula’s second official currency, vowing to disband Ukrainian military units stationed across the

region, a move that might inflame the raging security crisis on the European Union’s eastern frontier. Foreign Ministers from the European Union responded by imposing travel bans and asset freezes against thirteen Russian officials as well as eight Ukrainian officials from Crimea, but did not identify them. Lithuanian Foreign Minister, Linas Linkevicius tweeted that there would be more EU measures in the next few days. They were officially targeted for undermining the sovereignty of Ukraine. Crimea has been under effective control of Russian troops and pro-Kremlin militia since the start of the month. Western diplomats had hinted that the measures

would cover top Kremlin aides and Russian security ministers, but not President Vladimir Putin himself. Diplomats also said EU and Ukrainian leaders would on Friday sign the

political portion of an Association Agreement, whose rejection by the old proKremlin team in November sparked the first wave of Kiev protests. The EU’s punitive mea-

Police brutality: Protesters clash with police at the Barton Moss tracking site, in Manchester., where the Police tracked a woman protester on the ground,

Malawi: Police, activist killed in presidential rally

alawi Police said yesterday, an officer was axed to death and one person shot dead in clashes with stone-throwing opposition activists, after a weekend rally by President Joyce Banda. Police spokeswoman, Rhoda Manjolo said police had to fire in “self defence” after a hostile crowd attacked the officer. One demonstrator was shot dead. The policeman was declared dead on arrival at a hospital in Blantyre. The clashes occurred, shortly after a rally by Banda at Goliyati village, east of the capital in Thyolo, a stronghold of her rival

Peter Mutharika of the former ruling Democratic Progressive Party (DPP). Malawi will go to the polls on May 20. Opposition supporters earlier attacked rally goers with stones, according to presidential spokesman Steven Nhlane. Stones came within 100 metres (yards) of the podium where Banda and senior party officials were sitting, causing “quite a security scare,” said Nhlane. The rally proceeded, after police fired tear gas to disperse the hostile crowd and the President left safely under heavy police escort. “But things worsened, after

the rally ended as the mob continued to throw stones at the crowd, forcing police to fire tear gas to control the situation,” Nhlane said. Wakuda Kamanga, an official of Banda’s ruling People’s Party (PP) told AFP several party members were injured in the skirmishes. Several government vehicles and one belonging to a senior party official had windscreens bashed and windows shattered, injuring most of the occupants. A car belonging to the Malawi Broadcasting Corporation (MBC) was “extensively damaged and the particles of

a broken windscreen seriously injured the eyes of two MBC journalists,” a senior official at the state broadcaster said. Banda, previously Vice President came to power in 2012, following the sudden death of President Bingu wa Mutharika. She faces three prominent contenders, including Peter Mutharika, a young brother of the late President at the elections due in May this year. Peter Mutharika was accused of trying to usurp the constitution and Banda’s succession in a plot that involved keeping his brother’s death secret for days by flying his body to South Africa.

U.S seizes rebels’ oil tanker

.S Special Forces have seized a commercial tanker that fled with a cargo of oil from a Libyan port, controlled by anti-government rebels, halting their attempt to sell petroleum on the global market. Libyan federalist gunmen, demanding regional autonomy and a share of oil wealth managed to load crude onto the ship, which escaped Libya’s navy, embarrassing Tripoli’s government and prompting parliament to sack the prime minister. U.S. Navy commandos stormed the Morning Glory tanker as it sat in international waters-off Cyprus on Sunday night and took control of the

vessel, which the Pentagon said had been held by three armed Libyans. The stand-off over control of OPEC member Libya’s oil illustrates how fragile the North African nation’s stability remains since the NATO-backed civil war that led to the fall of Muammar Gaddafi nearly three years ago. With its army still nascent, a weak government has been unable to impose its will on former anti-Gaddafi fighters and militias, who now use their military muscle to make demands on the state, often by targeting the vital oil sector. U.S. Navy Seals board tanker, carrying oil from rebel-controlled Libyan port.

sures are expected to be followed by similar steps from Washington amid efforts by the Western allies to put up a unified front against the Kremlin’s overt show of post-Soviet might.dent.

At least in the short term, the tanker’s seizure by U.S. forces is likely to prevent any more attempted oil sales by the rebels, who in August took control of three export terminals accounting previously for 700,000 barrels a day of exports. “Oil is the economy’s artery. The government will not allow anyone to fool around with the assets and resources of the Libyan people,” the Libyan government said in a statement. No one was hurt in the tanker raid, which was approved by U.S. President Barack Obama and requested by the Libyan and Cypriot governments, Pentagon Press Secre-

tary John Kirby said. “The Morning Glory is carrying a cargo of oil owned by the Libyan government National Oil Company. The ship and its cargo were illicitly obtained” from the Libyan port of Es Sider, his statement said. It was the second time in six months that U.S. forces have become involved in Libya. A commando team snatched a suspected al Qaeda suspect off the street as he returned home from prayers in the capital Tripoli in September. Libya’s parliament head, who has quasi-presidential powers, had given the rebels two weeks to withdraw from the seized ports or face a military operation.

China warns Philippines over disputed land

hina has warned Philippines yesterday to abandon a disputed shoal in the South China Sea, after Manila said it planned to challenge a Chinese naval blockade of the area by sending supplies to its troops stationed there. Last week, a senior Philippines military official said his country would send civilian supply ships to its soldiers deployed on a vessel that ran aground on the disputed Second Thomas Shoal in 1999. The shoal is known in China as the Ren’ai reef and in the Philippines as Ayungin. “The Chinese government’s attitude on maintaining the country’s sovereignty and territorial integrity is unwavering. We will never tolerate the Philippines illegal occupation of Ren’ai reef,” Chinese Foreign Ministry spokesman Hong Lei told a daily news briefing. “China is on high alert for the Philippines possibly taking more provocative acts in the South China Sea. The Philippines must accept responsibility for the consequences of what will happen,” he added. Second Thomas Shoal, a strategic gateway to an area believed to be rich in oil and natural gas, is one of several possible maritime flashpoints that could prompt the United States to intervene in defense of Asian allies troubled by increasingly assertive Chinese maritime claims.

Ahmedu raises the alarm over Lagos b’ball floor Chimaobi Uchendu

he proprietor of Dordan Warriors basketball team, Col. Sam Ahmedu (Rtd), says if urgent steps are not taken to correct the depletion

of National Stadium basketball floor, more casualties would be recorded. Ahmedu’s comment came in the wake of injury sustained by Seun Olawale on Saturday while playing a league match on the

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

court. He described the floor as death trap and asked those that installed it to rectify it immediately, while calling for a probe into the mismanagement of materials meant to be used to fix

the floor. He said, “I’m saddened by the injury sustained by Seun, which is avoidable. We were supplied quality materials but it was mismanaged by those saddled with CONTINUED ON PAGE 55

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

TUESday, MARCH 18, 2014

That Brazil’s Roberto Carlos scored his first and only FIFA World Cup goal on his 87th cap against China PR on June 8, 2002

I’m not scared of Messi, Aguero, Dzeko

– Omeruo }p-55

Pistorius ‘spent £2,700 on guns before Steenkamp shooting’ }p-52

Drogba nervous ahead of Chelsea return

Flamingoes will get better -Nkiyu

}p-53

}p-55

52 SPORT

Sanctity of Truth

World Cup: Elaho, Orume disagree over Yobo’s recall

Tuesday, March 18, 2014

30,000 jobs will be created using sports – Sarah Pane

Yobo

Chimaobi Uchendu

ormer Super Eagles winger, Friday Elaho, and sports commentator, Godwin Dudu- Orumen, have disagreed on Joseph Yobo’s fitness to feature at this year’s World Cup in Brazil. Elaho said Yobo merited to be in the team for his service to Nigeria over the years while Orumen countered his suggestion, saying that Nigeria only needed fit and young players for the mundial. Elaho further said Keshi was a beneficiary of this arrangement in the twilight of his career, when

Westerhof made him a part of the Nations and World Cup squad. Elaho said; “I’m not the coach of the team but I want to say here that Yobo deserves to be part of the World Cup squad, even if ends up not playing, his experience and motivation to the younger players will be key. “Keshi has the final say but I want to remind him that he benefited from this arrangement when Clemens Westerhof rewarded his loyalty with the Nations and World Cup appearances towards the end of his career.” Orumen said; “Countries go to the World Cup with the aim of doing well will never listen to senti-

etween now and the end of 2014, President Goodluck Jonathan’s administration will create 30,000 career opportunities for youths, professionals and community-based professionals while we target about one million kids for a sport career within the next four years. Speaking during a courtesy visit on her, the Special Adviser to the President on social development, Mrs S a r a h Pane, said;

ments l i k e loyalty. If Nigeria hopes to do well it is advisable that the likes of Yobo are discarded immediately because they have nothing to add again.”

Pistorius ‘spent £2,700 on guns before Steenkamp shooting’

scar Pistorius, the paralympic athlete accused of murdering his girlfriend Reeva Steenkamp, paid R48,00 (£2,700) for six firearms including a pump-action shotgun and a semi-automatic rifle in an order that was cancelled after the model died, his trial has heard. The documents were read as part of the testimony of Sean Patrick Rens, from the Firearms Training Academy in Walkerville, Gauteng, which Pistorius first vis- Pistorius ited in May 2012. room door because he believed Mr Rens was giving evidence she was an intruder. The State at the start of Day 11 of Oscar contends he did so deliberately Pistorius’ trial for the murder of after the couple argued. Reeva Steenkamp at his home on As part of the sale agreement, a Pretoria security estate in the the sprinter was required to fill in early hours of St Valentine’s Day a series of forms including a queslast year. tionnaire about when it was acPistorius, 27, says he shot Steen- ceptable to use a firearm against kamp, 29, through a locked bath- an intruder, the court was told.

“You are at home alone in an isolated area far from police or security services,” the document begins, before asking if it is acceptable to shoot at two men jumping over your boundary wall; breaking into your house or taking your hi-fi. Pistorius responded “no” to each scenario. He responded ‘yes’ to the final question: “There is no security gate between you and the burglars. They turn around and both are armed, one with a knife and the other with a firearm. When they advance towards you, can you discharge a firearm towards them because you fear for your life?” Asked about the legal requirements for using lethal force for private or self-defence, Pistorius wrote: “Attack must be against you, must be unlawful, it must be against a person or persons”.

Doha Diamond League: Fraser-Pryce ready for Okagbare, others Charles Ogundiya

with Agency reports

eigning World and Olympic 100m champion, Shelly-Ann Fraser-Pryce, has expressed her determination to battle Nigeria Blessing Okagbare and other challengers as she begins her IAAF Diamond League campaign with the Doha 2014 meeting on May 9. The 27-year-old Jamaican, who dashed to the

IAAF World Indoor Championships 60m title in Sopot one week ago said she was ready for any opposition. Fraser-Pryce faces formidable foes as Nigeria’s Okagbare will lead the challenge for the contenders. Last year, the 25-yearold improved the African 100m record to 10.79 secs. Fraser-Pryce’s compatriot Kerron Stewart, a 100m finalist at the World Championships last sea-

“Mr President has always been disturbed on how his administration will make the future of children and youths be organized and settled. Mrs. Pane said, “We are happy to associate and work with some ex-international sports brands to deliver the Basic Olympic Opportunity Sports Training project. We shall equip kids and children to pick sports of their choice, train them, expose and develop them to become top rate professionals who will rule the world in a couple of years to come.” She thanked the initiators of the project for their painstaking efforts to get the project to this stage. “As a mother, I realise how much this project will bring succour, fame, money and above all create very strong citizens.” Responding, the Chief Executive Officer of the Goldenwings33 Nigeria Limited, Olajide Fashikun, said, “We are happy to bring the office of the Special Adviser on social development to partner us in taking this project to the Nigerian children.”

Brazil: Atunwa tips Eagles for q’finals Biodun Oyeleye Ilorin

peaker of the Kwara State House of Assembly, Alhaji Razaq Atunwa, has expressed confidence that the Super Eagles would go beyond the second round of the World Cup if the players demonstrated highest sense of patriotism in the global soccer tournament. Atunwa who made the observation when he hosted Taiwo Awoniyi, an indigene of Kwara and member of the Golden Eaglets which won the

U-17 World Cup said Nigeria was endowed with talented and experienced players who could do the nation proud in Brazil. He counselled Taiwo Awoniyi and other members of the Golden Eaglets to be more disciplined and committed to their football career so that they can reach the peak of their career. The Speaker who presented a sum of N250,000 cash gift to Awoniyi assured that the State Government would give necessary support to make him excel.

African meet: Gymnasts in a dilemma Charles Ogundiya

T Okagbare (left) and Freser-Pryce in action

son and 2008 Olympic 200m silver medallist, is also confirmed. “I enjoy running in Doha,” said Fraser-Pryce. “The stadium is close and intimate which makes you feel connected with

the fans.” “The 200m is the event I want to get better at. I am doing okay but I believe there is a lot more to give, so this season a lot will be placed on being better and faster at the 200m. “

he fate of Nigeria taking part at the African Gymnastics Championship in South Africa is hanging in the balance as the proposed budget for the competition is yet to be approved and signed by the Director General of the National Sports Commission, Gbenga Elegbeleye In a passionate plea to the NSC, the head coach, Tony Asuquo, asked for the DG to quickly sign the

budget and allow the gymnasts to travel as failure to do so could drag the sport backward in the country. “We are trying to revive gymnastics in Nigeria, we just want to bring back the lost glory of the sport in Nigeria, that’s all we care about, we don’t care about what we will be given, lets perform well there, then we will be thinking about the Commonwealth Games and the All African Games. Failure to go for this competition now, will bring us down,” he said.

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he stage is set for the emergence of a champion as 40 secondary schools (including private schools) in Lagos State battle for the 2014 edition of the GTBank Lagos Principals’ Cup. In the draws conducted last week, 24 schools will be competing in the group stage in the boys’ category while 16 schools will battle for honours in the girls’ category after the preliminary stage of the tournament started with about 300 schools from the 20 education zones in Lagos State. In the boys’ category, Ikotun Senior Grammer School, Baptist Academy and Igbobi College will battle for the single slot in Group A, while St. Finbarrs College, Mainland Senior High School and Iponri Estate Senior School slug it out

Zenith Bank League tips off March 21

he NBBF has announced the commencement of the first phase 2014 Zenith Bank League which will hold in Abuja. A press briefing to usher in the season comes up in Lagos on Tuesday, today at the Lagos SWAN Secretariat inside the National Stadium in Surulere. On Thursday March 20, the Technical meeting for the competition will hold in Abuja. The opening games hold from March 2125, 2014 at the Indoor Hall of the Abuja National Stadium, Package B while Wednesday, March 26, 2014 shall be observed as Free Day. Closing games resume on Thursday March 27 and will run through to March 29, 2014.

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Tuesday, March 18, 2014

40 schools battle for GTBank Lagos Principals’ Cup in Group B. Group C have Ajeromi Ifelodun School, Oriwu Senior Model College and Ansarudeen Senior Grammar School with Group D consisting of Methodist Senior Grammar School, Badagry, Newland Senior Secondary School and CMS Grammar School, Bariga. Defending champions, Keke High School, Agege will confront Ilado Community School and Akande Dahunsi Memorial School in Group F as Bolade Senior Secondary School, Itire Community School, Mushin and former champions, Gaskiya College, Ijora are in Group G while St. Gregory College, Methodist Boys, Victoria Island and 2012 Winners, Dairy Farm make up Group H. In the girls category, CMS Girls, Bari-

ga who have competed and lost in the last three successive finals, top group A alongside, Methodist Girls, Yaba, Oriwu Model College and United Christian College, Apapa. Defending Champions, Ikotun Senior High School will battle Queens College, Akande Danhunsi Memorial and Wahab Folawiyo School in Group B while Sanya Senior Grammer School, State High School, Alimosho, Alakoto Senior Secondary School and Government College, Ajara will slug it out in Group C as Government Senior College, Agege; Ilupeju Senior Secondary School; Oduduwa Secondary School and Anserudeen Girls, Itire make up Group D. Commenting on the tournament,

Managing Director of Guaranty Trust Bank plc; Mr. Segun Agbaje, said, “At GTBank, we believe in the power of sports and for the fifth year running, we are proud to demonstrate our support for the game of football in the country. We would not relent in supporting sports competitions that Nigerians are passionate about. This tournament has over the years helped these students work towards their dream of being world class footballers, it has helped them grow in personal confidence, become better team players and some of them are already making a career out of football.” The ultimate prize of N1million will be won by the winning male and female teams while the first, second and third runners up will receive N750,000, N500,000 and N250,000 respectively. Guaranty Trust Bank will also provide sporting equipment such as balls, goal post nets and corner flags throughout the duration of the competition.

Governor Fashola lauds Heineken

agos State Governor Babatunde Fashola, has showered encomiums on world’s leading international premium lager beer, Heineken, for availing Nigerians the rare opportunity to feel and experience the actual UEFA Champions League Trophy live. Governor Fashola made this commendation at the Government House, Alausa, Ikeja when ex-international football star and coach Ruud Gullit, who is also the Heineken brand ambassador, paid the governor a courtesy visit with the UEFA Champions League Trophy. “Nigerians are extremely passionate about football. The UCL is a favourite amongst a very large section of Nigerians. The trophy is coming at a time when the Champions League is at a critical stage. Heineken’s gesture of giving Nigerians an opportunity to actually feel the real UCL trophy live here in Lagos Nigeria this period is indeed laudable. It is a gesture that most Nigerians, including myself would not forget in a hurry”, the

L-R Edem Vindah, Marketing Director Nigerian Breweries Plc, Walter Drenth, Ex-International, Victor Ikpeba, Senior Brand Manager Heineken, Ngozi Nkwoji and Ekanem Kufre, the Corporate Affairs Adviser, Ekanem Kufre and the formal opening of the Heineken House in Ikoyi, Lagos recently.

governor said. While appreciating Heineken for finding Lagos worthy of being included as part of the destinations where the UCL trophy would berth, Governor Fashola also used the occasion to call on the youths across the nation to embrace sports to engage themselves meaningfully. “Nigeria is a country full of talents. We

want our youths to challenge themselves and embrace sports, not just football but other sports as well. We want to see Nigerian sportsmen and women compete with the best and excel at the global stage. Sports is a viable tool for national development and those of us in government would do all we can to support sports development,” the governor said.

N2m up for grab at Integrity Marathon …NSC, AFN commend sponsor

Charles Ogundiya

Ikechukwu Akpuru in jersey No 4 of Customs trying to dribble Obeten Christopher in jersey No 11 of Union Bank and Alabson Timion in jersey No 6 of Union Bank during the 2014 Nigeria DStv Premier Male Basketball League at the Indoor Sports Hall of National Stadium, Lagos at the weekend. Customs won by 61-53 points.

he sum of N2m has been earmarked as prize money for winners as Long distance runners battle for supremacy at this year’s edition of Splash FM Integrity Marathon race billed to hold in Ibadan, Oyo State. The 42 kilometer full marathon race which enters its 6th edition this year has been scheduled for March 23rd at the Obafemi Awolowo Stadium, Ibadan, with more than 600 athletes completing all formalities to participate this year. Speaking in Ibadan on the race, the South/West zonal coordinator of National Sports Commission, Dr. Steve Olarinoye, confirmed that more than 600 athletes have returned their participa-

tion forms with medical papers certifying them fit for the race. Meanwhile, the National Sports Commission and Athletic Federations of Nigeria have lauded the effort of Chief Adebayo Akande, the financier of the race for sustaining it. NSC commended Chief Akande who is also the Ekefa Olubadan of Ibadan land for sustaining the race to its 6th edition with AFN boss, Solomon Ogba, praising him for his effort in developing Nigerian long distance runners through his annual 42 kilometer marathon competition. Ogba noted that all plans had been concluded to include the annual Splash FM Integrity Race in the AFN’s calendar of events so that the organizers would be getting some technical input from the AFN.

54 SPORT | INTERNATIONAL FOOTBALL

Drogba nervous ahead of Chelsea return D

Sanctity of Truth

Tuesday, March 18, 2014

Real set to complete Schalke rout

Drogba

enced everything. idier Drogba admits he is nervous It allowed me about returning to former club Chelto get closer sea on the eve of Galatasaray’s Chamto the best players pions League tie at Stamford Bridge. Drogba, who spent eight years at Chelin the world.’ sea culminating in scoring the winning But despite his close penalty in the 2012 Champions League affinity with Chelsea, the final, will make his first appearance players and the supporters, in front of his old fans Tuesday night. Drogba insists he will be doing The tie is evenly poised at 1-1 after his utmost to upset the Blues and the first leg in Istanbul three weeks send another English club crashing ago and the Ivorian admits he is apout of this season’s Champions League. prehensive over his return to his old ‘I hope that Galatasaray qualify. It will be stomping ground. difficult, but I think that regarding the wel‘First of all I was happy to play against come, I think I’m allowed to say that I will my ex-club, against my friends. But at the receive a warm welcome, because I know same time it is a very special moment be- Chelsea’s fans and our relationship is really cause I do not know what my reaction will special,’ the 36-year-old added. be,’ Drogba told UEFA.com. ‘You know that I spent eight UEFA Champions League Fixtures years at Chelsea, so I really don’t 8:45 pm know, I am quite apprehensive Chelsea vs Galatasaray about it. Real Madrid vs Schalke 8:45 pm ‘It’s the club where I experi-

chalke must overcome Real Madrid, a five-goal deficit and the history books if they are to seal a Champions League q u a r t e r- f i n a l spot. Carlo Ancelotti’s side ran riot in the first leg in Gelsenkirchen last month, with braces from Cristiano Ronaldo, Karim Benzema and Gareth Bale helping the visitors to a 6-1 win. That scoreline all but confirms Madrid’s presence in the last

uan Mata is convinced that Manchester United will respond to their demoralising loss to Liverpool by reaching the Champions League quarter-finals this week. The Red Devils were sent crashing to a 3-0 defeat by the Merseyside club at Old Trafford on Sunday as they suffered a crushing blow to their hopes of Mata a top-four finish. United host Olympiacos in the secAnd the 25-year-old insists that Daond leg of their last-16 tie on Wednes- vid Moyes’ men will “give everything” day looking to turn around a 2-0 deficit against the Greek side on Wednesday night. from the first leg last month.

Ibrahimovic

aint-Etienne coach, Christophe Galtier, hailed Zlatan Ibrahimovic after watching the Paris Saint-Germain striker bury his side on Sunday. Ibrahimovic struck twice in the first half as PSG defeated SaintEtienne 2-0 in Paris to maintain their eightpoint lead at the top of Ligue 1. While PSG coach Laurent Blanc was ‘a little annoyed’ with his team’s performance, Galtier said the visi-

angry Milan fans

eight of Europe’s premier club competition, with Schalke unlikely to produce a rare comeback on Tuesday at the Bernabeu. In European competition, Jens Keller’s men have been beaten in all

three ties where they lost at home in the first leg and will need a minor miracle if they are to arrest that run against the Spanish tabletoppers. Real have scored 26 goals in the Champ i o n s League this season and remain on course for a treble due to impressive performances in La Liga and the Copa del Rey.

Mata: Man Utd will bounce back against Olympiacos

Galtier: Ibrahimovic is a ´killer’ Balotelli begs tors could not match the capital club due to Ibrahimovic - ‘the killer of opposition sides’. “PSG were very, very strong and wanted to kill the game quickly. We couldn’t respond to their intensity and their pressing,” Galtier said. “Once we were behind it was always going to be difficult. Nevertheless, I hoped we would only be one goal down at the break. “Unfortunately we came up against a very good Paris side who had a phenomenon up front - Ibra, the killer of opposition sides. “In the second half we played more like we wanted to. We maybe deserved to get a goal back and that would have made for a tense finish but we couldn’t take our chances. Paris deserve their victory.”

Bale

C Milan are in chaos again and fans protested angrily after a 4-2 home loss to Parma, causing striking star Mario Balotelli to apologise. AC Milan’s horror season continues after a 4-2 defeat to Parma at San Siro masterminded by an Antonio Cassano brace. The Rossoneri were still reeling from three consecutive defeats including an emphatic elimination from the Champions League at the hands of Atletico Madrid as they lined up to face Parma. And things went from bad to worse for Clarence Seedorf’s men as they were behind within nine minutes courtesy of a Cassano spot-kick that had also seen goalkeeper Christian Abbiati shown a straight red card. Milan looked ponderous and short of confidence and their visitors took complete control when Cassano scored a second after the break due to some terrible marking. But the Rossoneri appeared to have pulled off a remarkable comeback when Adil Rami scored within three minutes of coming on as a substitute and Balotelli converted a controversial

penalty kick for his first goal in a month. However, Parma were not discouraged by throwing away a two-goal advantage and ex-Juventus man Amauri bundled home in the 76th minute to restore their lead. Ex-Sunderland target Jonathan Biabiany compounded Milan’s misery in the dying seconds with a diving header from s i x yards to make it 4-2. After the game, furious Ultras gathered in protest at the Diavolo’s current position and demanded to see the players. A c cording to Tuttosport, Kaka and Abbiati went to talk to fans to try and calm the atmosphere and Balotelli also offered an apology.

Jailed Bayern chief rules out appeal

erman football legend and former Bayern Munich boss Uli Hoeness is to go to jail for tax fraud after prosecutors said Monday they would not appeal the verdict. Public prosecutors said in a statement that they did not plan to contest the three-anda-half-year prison term handed down last week to Hoeness, 62. Hoeness was sentenced on Thursday for cheating the state out of 28.5 million euros ($39.5 million) after a fourday trial that riveted football-obsessed Germany. He admitted hiding his wealth in secret Swiss bank accounts while obsessively “gambling” on stock and currency markets for years before seeking to come clean in return for immunity from prosecution.

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Flamingoes will get better -Nkiyu …hails team’s 2-1 victory over China

Yan Liu of China (left) and Esther Elijah of Nigeria

for the Flamingoes and the team doubled its lead in the 63rd minute courtesy of a powerful header from Kanu. Fan Yuqiu scored a minute later to cut Nigeria’s lead as China PR

Charles Ogundiya

ead Coach of the Nigeria Under-17 women team, Flamingoes, Bala Nkiyu, has promised that his wards will improve in subsequent games after they struggled to defeat their Chinese counterpart 2-1 in their group D opening match of Costa Rica 2014 U17 Women’s World Cup. In Alajuela in the early hours of Monday, Nigeria took the lead in the 21stminute through Rasheedat Ajibade, who broke the deadlock with an emphatic strike. The second half started as the first

b e gan to mount a comeback, but Onyinyechukwu Okeke performed admirably in goal for Nigeria as the back line held on to a 2-1 win. Head Coach of the Nigeria U17 Women’s team, Bala Nkiyu, refused to blame his girls for a poor second half, insisting they did brilliantly well to preserve the lead despite the Chinese’s fought-back in the last half hour of the game. “We played better in the first half, it is normal when you are down in any match you want to brace up – so I’m am

uper Eagles defender, Kenneth Omeruo, has said that he can never be intimidated by the pedigree of strikers like Lionel Messi and Sergio Aguero of Argentina and Edwin Dzeko of Bosnia. The path of the Nigerian defender is expected to cross with these top players at the World Cup barring any unforeseen circumstances and the Middlesbrough player said he would hold these renowned strikers. Argentina and Bosnia are in the same group with Nigeria at the World Cup and the two teams boast of some of the deadly strikers in the world. Omeruo said the experience he had garnered since breaking into the national team would help him when the tournament gets underway. He said, “I cannot be afraid of any player. Messi is one of the best players in the world and you also mentioned Dzeko, Their quality and talents are not in doubt but I am determined to stop these men from causing havoc in our team. I have also played against some good strikers before and I proved myself. “We can’t go out and be scared of our opponents. That is my own idea and it has helped me. It helped at the Nations Cup when we played against the likes of Didier Drogba and Yaya Toure, and at the

Confederation Cup when we played against Luiz Suarez, Diego Forlan, Fernando Torres, Andrea Iniesta and co. I will just do my best to be in top shape for the World Cup. I also pray against any injury.” he said. Nigeria’s first match at the World Cup is against Iran on June 16th in Curitiba while on June 21st the Eagles will travel to Cuiaba to play Bosnia Herzegovina. Porto Alegre is the venue on the crunch last group game holding on June 25th between Nigeria and Argentina. Argentina and Bosnia are in the same group with Nigeria at the World Cup and the two teams boast of some of the deadly strikers in the world. Omeruo said the experience he has

the responsibility to install it. “How can you buy a fine cloth and give it to a carpenter to sow for you? definitely you are bound to get what you bargained for. I want to describe this floor as a beautiful nonsense because I see it as a death trap for players and the earlier it is corrected the better for basketball.” Ahmedu stressed that steps

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garnered since breaking into the national team will help him when the tournament gets underway. “By the grace of God, I cannot be afraid of any player. Messi is one of the best players in the world and you also mentioned Dzeko yes, he’s good but I have also played against some good strikers before and I proved myself. We can’t go out getting scared of the strength of our opponents. That is my own idea and it has helped me. It helped at the Nations Cup when we played against the likes of Drogba and Toure, and at the Confederation Cup when we played against Suarez and co. I will just do my best to be in top shape for the World Cup. I also pray against any injury,” he said.

Ahmedu raises the alarm over Lagos b’ball floor C O N T I N U E D F R O M PA G E 5 1

Charles Ogundiya

ead coach of Sunshine Stars of Akure, not surprised that China fought hard Henry Abiodun, on Sunday hailed his in the second half as they were already players resilience against league defending down, unless the final whistle is blown champions, Kano Pillars, in a crunch match they will still want to fight back. decided at the Sani Abacha Stadium, Kano. “I think Ajibade will do well though, The Akure Gunners were on the verge I expect her to do better than this in the of recording a famous victory in Kano but a second or last group match but for to- last minute goal by Gambo Mohammed help day (Monday) she tried, by the time she preserved Kano Pillars, 11-year unbeaten plays the second or third, - in a compe- home record. The match ended 2-2. tition you must improve match after Speaking to New Telegraph on telephone match and when you are able to win from Kano, coach Abiodun said it was a the first match you are able to play total war against Kano Pillars. more relaxed in the next,” Nikyu said. “I am very happy with the result, it He however commended the team shows that we are ready for the season. work and resilience of his ladies to We recorded a goalless draw against Enyensure victory against opponents, imba in our league opener and now anChina in their Group D opening cam- other point away to Kano Pillars, the two paign. top teams last season. “I don’t want to mention any “I would have loved the full points player because they all did well against Pillars, but if I was given the one – its team work - they played for point before kick-off, I would have gladly themselves to win,” Nikyu said. taken it. We over respected them (Kano In the earlier game of Group D, Pillars) in the first half but attacked them CONCACAF champions Mexico more in the second half, I must note that trashed Colombia 4-0 Colombia in a it was a game both sides wanted to win,” he said. first-half onslaught in Alajuela. Nigeria will look to secure a firm grasp atop the group D when they take on Colombia by 8pm Costa Rica time on Wednesday evening TWITTER |@NTelegraphSport 3am Nigerian time on Thursday jonathan akpoborie morning. Me thinks Moyes should do the honourable thing now... since Moyes came, Nepa took light at Old Trafford. He should leave na @akpoborie

‘I’m not scared of Messi, Aguero, Dzeko’ Ajibade Olusesan

Sunshine coach hails players’resilience

should be taken urgently to save the situation to enable lovers of the game to get the best from the players. “I want government to come in and probe this mismanagement and if anyone is found guilty he or she should be meant to face the full weight of the law,” he added. Olawale of Lagos Islanders sustained injury on Saturday during the match against Police Machine.

Onazi Ogenyi Eddy Nepa Haba na wa ooo I just say make I take some gas for my machine I know know say una don reach here Tchaii no light. lItaly-based Super Eagles midfielder, Ogenyi Onazi, registers his displeasure after getting to a gas station only to discover there had been a power outage. @OnaziOgenyi Didi Hamann Fergie will be asked the question tonight whether he will come back for the remainder of the season. @DietmarHamann Daniel Sturridge What a win!! Get in there boys!! Striving to be second to none. @D_Sturridge Per Mertesacker Derby Day ! Derby Clean Sheet ! Derby Victory ... I love derbies. @mertesacker Younes Kaboul Evening all, not the result we wanted of course but the character and effort was there like you did also for 90 min. We clearly deserved a better fate but football is like this sometimes. Thanks to all of you for your support. On to the next one. @YounsKabs4 Alex Ox-Chamberlain P.S all banter regarding my miss is welcomed... Hold my hands up, got it all wrong lol. @Alex_OxChambo Radamel Falcao Great win @ ASMFC_MONACO 2-3 against a very tough opponent! Congratulations to all my colleagues! @ FALCAO Jack Wilshere Get in! Rosicky loves a derby goal!!!! Well done lads! Fans will be buzzing!! Just like me. @JackWilshere Michael Essien What doesn’t kill you makes you stronger,the strong will always survive.. @MichaelEssien

On Marble Do not go where the path may lead, go instead where there is no path and leave a trail. - Ralph Waldo Emerson

CHALLENGE With insufficient power supply, coupled with poor infrastructure, the e-commerce will be far from being a reality

rriving a few months after the Federal Government approved the National Broadband Plan from 2013 to 2018, various reports indicate that Airtel Networks limited is again on the move. The thriving telecommunications enterprise has recently pledged renewed commitment to the public policy-driven strategy sought out to address the penetration and application of broadband throughout Nigeria. Indeeed, emphasizing the importance of expanding world wide web saturation and encouraging e-business has never been more opportuned as the globe continues to globalize and Nigeria looks to exceed the projections laid out for it to benefit the generations of tomorrow and potentially, today. In contemporary society, both informed and uninformed audience alike from around the world have begun to sense the unrelenting opportunities that abound in e-commerce and online business. And no greater are the prospects for economic opulence, more appealing than through the web market exchange found within the budding ECOWAS and perhaps its crown jewel, Nigeria. True to form regarding Nigeria’s history, there are difficult caveats in these opportunities bearing fruit found within the contract between the nation and its international partners, specifically in the latter’s assurance that by 2020, Lagos will serve as the economic capital of Africa as opposed to Johannesburg. Hence, the bureaucratic community, those policy-makers with both the will and determination to modernize and help diversify Nigeria’s economy, will need to play an amped up role in fostering a conducive environment to allow investors in-country and beyond integrate themselves into the diverse and one day robust online opportunities in this new technological frontier. Said technocrats (usage intended) must also play a role in temping down misinformation about Nigeria’s online business climate and infrastructure. Both have been tragically besmirched and subsequently sensationalized via (for example), a persistent series of

World Record

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 TUESday, MARCH 18, 2014.

N150

With a height of 979 m (3,212 ft), Angel Falls defines majesty. Its greatest single drop measures 807 m (2,648 ft), with other rapids and cascades combining to form the remaining height.

e-Commerce - The frontline of business dynamism

World View SAM AMSTERDAM

419-based misre presentative assaults carried out domestically and abroad. These undeniable attacks have no doubt helped demarcate ecommerce viability in-country over the course of the last few decades. That stated, online market demand and from it, supply is growing as the Nigerian economy is assuredly on the rise. The nation attracted over N205.4 billion worth of fresh investments into its retail sector in the last two years alone. Challenges to the Next Big Boom Nigeria’s national broadband penetration is still, in reality, quite low at present date; this is an oft-unspoken but nonetheless lingering issue. Ambitious prognosticators foresee such infiltration rising to 40% by 2018 and nearly 75% by 2020; however, this would indicate a whopping 80% increase in coverage by 2018 and approximately 95% by 2020, figures that no doubt would garner scrutiny from a trained eye.

Another modern challenge of ecommerce in Nigeria is a lack of fundamental infrastructure (including in some instances, steady electricity). Paramount to a rising nation’s growth, fortifying the national power framework will enable the online business sector to remain sustainably viable. Security is also a challenge. Cyber-hacking knows no territorial borders and efforts and measures must be made by both public and private parties to curb fraud and prevent outright theft, in the interest of market protection, exchange and importantly, the development of trust. Undeterred, major broadband projects in Nigeria are forecast to be completed this year, according to the federal government. In a statement, Minister Johnson noted that sectors such as education, agriculture, health, government services, entertainment and indeed security are expected to be revolutionised as high-speed internet builds Nigerian capacity. 84 million of the near-170 million

And no greater are the prospects for economic opulence more appealing than through the web market exchange found within the budding ECOWAS and perhaps its crown jewel, Nigeria strong citizenry in Nigeria are under the age of 20. By 2015, this demographic will account for more than half of the country’s population, according to recent statistics. This will fortify Nigeria’s position as the largest consumer market in Africa and climbing internationally. With unquestionable potential, the question yet remains – Will Nigeria’s government heed the market call and encourage stakeholders to invest in e-commerce by themselves installing the right environment for business to prosper? An entirely newfound online generation can bolster the already-booming economy and steward the ECOWAS toward modernity, a precedent to be replicated throughout emerging markets around the world.

OmoBaba

GOVT. TO PRIVATISE AIRPORTS, SEAPORTS - News

... and NURTW garages?

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