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Monday, September 22, 2014

Vol. 1 No. 216

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Oil reserves reduce to 35bn barrels –Investigation Adeola Yusuf

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igeria's oil deposits have depleted to 35 billion barrels, investigation by New Telegraph has revealed.

Nigeria, which is targeting 40 billion barrels oil

reserves, produces an average of 900 million barrels in 12 months based on its 2.5 million daily production, whereas little is done to replace the volume produced daily due to many factors.

The country, which is Africa’s biggest crude

exporter, which had over 37 billion barrels in its reserves in 2012, depends largely on proceeds from crude to service over 85 per cent of its national budget.

Director, Department of Petroleum Resources, Mr. George Osahon, had last

February declared that Nigeria’s oil reserves had depleted to 36 billion barrels.

“What we have in our reserves is now 36 billion barrels,” he said in a reaction to a question from New Telegraph at the Nigerian Oil and Gas confer-

ence (NOG) in Abuja.

Checks by New Telegraph, however, showed that over 480 million barrels of oil have been produced from the reserves since February when Osahon made the statement.

CONTINUED ON PAGE 4

Minister of Petroleum Resources, Diezani Alison-Madueke

2015: Jonathan can't run

lLawyers ask court to stop president }3

Quick Read

L-R: Speaker, Akwa Ibom State House of Assembly, Hon. Sam Ikon; Governor Godswill Akpabio; Deputy Governor, Lady Valerie Ebe and the state Chief Judge, Justice Idongesit Ntem-Isua, during a prayer session to mark the 27th anniversary of the creation of the state in Uyo...yesterday.

Editorial Let there be water for the people }19

APC sets up c'ttee to screen Buhari, Atiku

Kalu writes Abia PDP Reconciliation Committee

Ayodele Ojo and Johnchuks Onuanyim

}7

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ith the adoption of President Goodluck Jonathan as the sole presidential candidate of the Peoples Democratic Party (PDP), the leader-

ship of the All Progressives Congress (APC) has begun the process for the emergence of its candidate.

The party, New Telegraph learnt at the weekend, would raise a committee to screen its

presidential aspirants.

Those in the race for the party's ticket to lead Nigeria include former Head of State, Major Gen. Muhammadu Buhari; erstwhile Vice-President Atiku Abubakar, Governor Rabiu Kwankwaso of

Kano State and Publisher of Leadership newspaper, Mr. Sam Nda-Isaiah.

It was gathered that the APC leadership would soon constitute a screening committee, made up of “eminent Nigerians,” who CONTINUED ON PAGE 5

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Monday, September 22, 2014

NEWS

Monday, September 22, 2014

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Lawyers ask court to stop Jonathan from running lPressure mounts on president to choose new running mate Onwuka Nzeshi, Tunde Oyesina and Onyekachi Eze Abuja

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he Federal High Court, sitting in Abuja, has been asked to restrain the Peoples Democratic Party (PDP) from fielding President Goodluck Jonathan as its presidential candidate for the February 14, 2015 election.

The plaintiffs, Mase Daphine Acho, Saeeq Umar Sarki, both lawyers, and Murtala Abubakar, also asked the court to stop Vice-President Namadi Sambo from running along with Jonathan because the duo is ineligible for reelection.

Besides the PDP, Jonathan and Sambo, another defendant in the suit, filed on Friday, is the Independent National Electoral Commissioner (INEC).

The moves to stop the president came barely a day after his adoption by the PDP as its sole presidential candidate for the 2015 election.

Although the party's National Executive Committee, which adopted Jonathan at a meeting in Abuja last Thursday was silent on whether or not he would run again with Sambo, the party clarified yesterday that since both have harmonious working relationship, the president would run with his deputy in 2015.

Irrespective of the assurances, New Telegraph learnt at the weekend that the president has come under intense pressure to drop Sambo.

According to the court process in the suit seek-

L-R: Managing Director, Sterling Bank Plc, Mr. Yemi Adeola; Lagos State Governor, Mr. Babatunde Fashola and the state Commissioner for the Environment, Mr. Tunji Bello, at the presentation of branded Lagos State Waste Management Authority (LAWMA) Highway Managers' kits to the governor...at the weekend

ing to stop the president from running obtained at the weekend, the plaintiffs' counsel, Mustapha Ibrahim, Mr. Abdul Mohammed and Aliyu Lemu, argued that by virtue of the Supreme Court's decision in Marwa V Nyako (2012) 6 NWLR (Part 1296) at 199, both Jonathan and Sambo were not qualified to be elected as president and vice-president respectively.

The plaintiffs said Jonathan and Sambo were caught by the provisions of the constitution which state that no person can stay in office of the president and vice president for a period beyond eight years.

Jonathan meets Obama, UN scribe in New York Anule Emmanuel

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resident Goodluck Jonathan has departed Abuja for London on a private visit where he is expected to proceed to New York for the 69th Session of the United Nations General Assembly.

A statement by the Special Adviser on Media and Publicity to the President, Dr. Reuben Abati, said President Jonathan will attend receptions hosted by President Barack Obama of the United States and the Secretary-General of the United Nations, Mr.

Ban Ki Moon in New York.

The president is expected to address the United Nations Security Council High-Level Session on Threats to International Peace and Security Caused By Terrorist Acts and present Nigeria’s statement to the General Assembly on Wednesday.

According to Abati, the President is also scheduled to hold bilateral talks with UN SecretaryGeneral and the British Prime Minister, Mr. David Cameron.

He is expected back in Abuja on Thursday.

They submitted that Jonathan and Sambo, at the expiration of their current tenure, would have held office for five years.

The plaintiffs also stated that Jonathan and Sambo had held office for two terms recognised by the 1999 Constitution to wit: (i) the first term was held to conclude the unexpired term of the late President Umaru Musa Yar'Adua between May 6, 2010 to May 29, 2011and the second term is still being served from May 29, 2011 to May 29, 2015.

The plaintiffs, however, asked the court to declare that Jonathan and Sambo do not have the capacity to serve as president and vice-president respectively for another term of four years after the completion of their tenure in office in view of the combined effect of the provisions of sections 135(2) (a) and 137(b) of the 1999 Constitution.

They further asked the court to declare that Jonathan and Sambo, having spent five years in office as president and vicepresident respectively, are not eligible to contest for the office of president and vice-president for another term of four years thereby amounting to a contravention of the combined provisions of sections 135(2) (a) and 137(b) of the constitution.

Other reliefs sought by the plaintiffs are: A decla-

ration that the first oath of office subscribed to by Jonathan on May 6, 2010, being the oath of office administered on him to occupy the office of president for the purpose of completion of the unexpired term of office of the late Yar'Adua must be taken into cognizance in computing the number of years that he has served and can serve as president, in determining the effect of the combined provisions of sections 135(2) (a) and 137(1) (b) of the constitution.

An order of the court restraining INEC from recognising Jonathan and Sambo as presidential candidate and running mate picked by the PDP or any other political party for the 2015 presidential election.

The plaintiffs said allowing Jonathan and Sambo to contest in the 2015 elections would amount to a breach of the 1999 Constitution, which the duo had sworn to uphold.

They said the intervention of the court was required for the interpretation of the provisions of the 1999 Constitution.

According to them, it will be colossal waste of resources to allow Jonathan and Sambo to run even when they were ineligible to contest.

The defendants are yet to file their defence to the suit.

However, New Telegraph learnt yesterday that the president has

come under more pressure to drop Sambo as his running mate in the 2015 election.

The pressure, it was learnt, is coming from some powerful elements in the party who had hitherto opposed Jonathan's emergence but lately decided to support him on certain conditions.

One of the conditions given was that Jonathan would drop Sambo and replace him with one of the serving governors from the North-West geopolitical zone.

Those pushing this position have tipped Governor Sule Lamido ( Jigawa State) and Governor Ibrahim Shehu Shema (Katsina State) as a possible replacement for Sambo.

Also, Governor Babangida Mu'azu Aliyu of Niger State may also be considered for the position. Although Aliyu is from the North-Central and not North-West where Sambo hails from, the role the governor has played in recent years as Chairman of the Northern Governors' Forum has made him a prominent figure in the region.

Presidency sources told New Telegraph that although Sambo had a cordial working relationship with his boss, the vice-president was said to have lacked the much needed political clout and electoral value that could make a Jonathan/Sambo

ticket attractive to the electorate in the North.

"A lot of politicians in the North do not reckon with Sambo because he does not really belong to the 'core group' of northern leaders. Even though he was the governor of Kaduna State, the old political capital of the North, Sambo is perceived as too lukewarm and not vibrant enough to protect the interest of the North. In fact, some politicians in Kaduna have asked Jonathan to drop him (Sambo) or else they will move their support to the All Progressives Congress ( APC) in 2015.

"The feeling among Northern politicians is that Sambo is unpopular and if Jonathan wants to win the votes of the North, he must run with a Northern figure who is charismatic and commands respect among the Northern elite," the source said.

The vice-president may, however, survived the plot as the PDP yesterday expressed the hope that Jonathan will run in 2015 with him .

According to the party, the duo has been working harmoniously and there will be no reason to change a "winning team."

It also said the automatic ticket granted the president last Thursday might not extend to governors and lawmakers seeking re-election.

PDP National PublicCONTINUED ON PAGE 5

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NEWS

Monday, September 22, 2014

Army Council may ratify death sentence on mutineers this week Emmanuel Onani

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here are indications that the Army Council is set to meet this week, to consider the death sentence pronounced on 12 soldiers, who were found guilty of mutiny, New Telegraph has learnt.

Though, the Army Council meets quarterly, a highly-placed military source, told New Telegraph that the meeting, may likely be a one-item meeting, considering the seriousness of mutiny and the consequent death penalty from the court martial.

This is as the Army hierarchy has vowed to restore discipline to the force.

It was learnt that more soldiers were facing courtmartial proceedings at different divisions across the country.

The source, who pleaded anonymity, further hinted that the military was not comfortable with the United States (US) involvement in the ongoing battle to rescue the abducted Chibok girls.

It will be recalled that a nine-man General Court Martial had, on September 15, sentenced 12 soldiers to

death by firing squad.

The affected soldiers were convicted of offence of mutiny against former General Officer Commanding (GOC) 7 Division of the Nigerian Army, Maj. Gen. Ahmadu Mohammed.

Mohammed, who was the GOC of the special Army Division in Maiduguri, the Borno State capital, was attacked by 18 soldiers of the Maimalari Cantonment, on May 14.

While sentencing the soldiers to death, President of the General Court Martial, Brig. Gen. C. C Okonkwo, who led eight other members, held that the prosecution had proved

the case of mutiny beyond reasonable doubt.

The 12 Army personnel, who were also found guilty on counts 1 (criminal conspiracy to commit murder) and 2 (attempt to commit murder) are: Jasper Braidolor, David Musa, Friday Onuh, Yusuf Shuaibu, Igonmu Emmanuel, Andrew Ugbede, Nurudeen Ahmed, Ifeanyi Alukagba, Alao Samuel, Amadi Chukwuma, Alan Linus, as well as Stephen Clement.

Speaking in confidence with New Telegraph, the highly-placed source said: "The (Army) Council will meet this week. You know

their meeting is a quarterly affair, and so, I'm sure they will meet this week, to discuss the issue you just raised.

"If they don't meet as I have said, it won't exceed first week of October.

The case you cited may dominate their meeting, as members will devote enough time to meticulously go through that judgement," he noted.

Section 148 (3) of the Armed Forces Act provides that: "A finding of guilty or sentence of a court martial shall not be treated as a finding or sentence of the court martial until it is confirmed..."

The Minister of Defence is the Chairman of the Council, while the Chief of Defence Staff (CDS) is the Vice-Chairman.

Other members of the Council, as listed in Part IV of the Act are: The Chief of Army Staff (COAS) as well as the Permanent Secretary of the Ministry of Defence, who serves as secretary.

A sentence passed by a court martial, only carries the force of law, upon confirmation.

The source further hinted that "more soldiers are facing court martial in Jos, Abuja and Ibadan."

CONTINUED ON PAGE 5

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L-R: Executive Director, Transcorp Hotels Plc, Okaima Ohizua; Director, Obinna Ufudo; Managing Director/CEO, Valentine Ozigbo and Director, Emmanuel Nnorom, at the completion board meeting and signing ceremony of Transcorp Hotels Plc's Initial Public Offer (IPO​) in Lagos...at the weekend.

Mostly Sunny

PORT HARCOURT

31o C 22oC Storms

KANO

33oC 23oC Partially Cloudy

ENUGU

31o C 23oC Storms

IBADAN

29o C 22oC Thunder Storms

CALABAR

28o C 22oC Storms

MAIDUGURI

36oC 24oC Partially Cloudy

ONITSHA

31o C 23oC Storms

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

TODAY’S WEATHER FORECAST ABUJA

FLIGHT SCHEDULE

Oil reserves reduce to 35bn barrels CONTINUED FROM PAGE 1

This has been exacerbated by the little or no oil discovery since last February to replace the 2.2 million barrels of the commodity produced daily.

A source at the DPR said at the weekend that Nigeria’s oil deposit had dropped from 36 billion barrels to about 35.27 billion barrels.

“Even from the rule of thumb, we all know that the country produces an average of two million barrels since February when our director made that statement. There has been no substantial discovery of crude since that time while we continue to produce from the reserves on daily basis.

“What we have now is about 35.27 billion barrels and maybe this explains the reason why the government is now aggressive in the exploration in

the Chad Basin,” he said.

Meanwhile, the government has intensified efforts to get oil at the Chad Basin.

New Telegraph gathered that plans have been concluded to raise the budget for oil search in the basin, North- East Nigeria, to $258 million following the upsurge of insurgency by Boko Haram in the region.

The initial budget for oil search in the Chad Basin was $175 million but it had to be increased by $83 million to secure the phase six of seismic acquisition programme with the enrolment of the services of over 2, 000 youths and local contractors.

Vice-President Namadi Sambo, who had earlier said oil prospecting in the Chad Basin was yielding promising results, and may lead to commercial exploration of oil and gas this year, added that the

project had gulped about $75 million in 2012, while another $100 million was earmarked for it in 2013.

The Boko Haram insurgency has however, caused major setback for the exploration – a situation, which led many foreign and local geologists staff of the Nigerian National Petroleum Corporation (NNPC) to turn down posting and redeployment to the troubled area.

The Petroleum Investment Management Services (NAPIMS), however, said it would forge ahead with its plans to find oil at the basin despite the insurgency.

The agency, a subsidiary of NNPC, said in a statement that over 2,000 youths and local contractors had been actively engaged to provide various services, including provision of boat and canoes in swampy terrains. NA-

PIMS in a statement said it had continued with seismic acquisition activities in the Chad Basin frontier area despite the security challenges currently being experienced in the area.

“The acquisition project being handled by Integrated Data Services Limited, a subsidiary of NNPC, in partnership with BGP, a subsidiary of the China National Petroleum Corporation, is a part of a 12-phased 3D seismic data acquisition programme covering 3,550 square kilometres, of which Phase 5, covering 252 square kilometres, has just been concluded. Currently, Phase 6 of seismic acquisition programme covering 266sq. km has commenced.

“Phase 1 to date, a total of 1,437 sq.km of seismic data has been acquired. Of this, 1,096 sq.km of seismic CONTINUED ON PAGE 6

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

NEWS

Monday, September 22, 2014

5

APC attacks Mark on postponement of 2015 elections CONTINUED FROM PAGE 1

will assess the presidential hopefuls and recommend who among them is best suited for the party's ticket.

According to a source, forming a presidential screening committee was among the issues party chieftains discussed with former Lagos State Governor, Senator Bola Tinubu, in London before his return to Nigeria at the weekend.

The source said that some names were considered to form the screening committee, but declined to identify those being considered as members of the committee.

The source added that membership of the committee might be ratified at the party's National Executive Committee (NEC) meeting slated for October.

A member of the APC National Working Committee (NWC) of the leading opposition party, who

pleaded anonymity, confirmed the planned setting up of the committee.

The NWC member said the committee would have between three to five members, whose membership would consist of highly respected retired judges, scholars and other professionals.

Those on the committee, it was learnt, would not be card-carrying members of the APC in order to guarantee their impartiality.

The committee, according to the source, will determine the eligibility of the presidential aspirants.

“At our last NEC meeting, the issue of presidential screening committee was discussed. We are yet to take a final decision on it.

I can assure you that will be done very soon,” the NEC member said.

He added that the composition of the committee will be devoid of political colouration, saying: “We

are considering highly respected judges, scholars/ academics and Nigerians who have distinguished themselves in their chosen professions who are not card-carrying members of APC.” It was learnt that the committee will only consider the eligibility of the presidential aspirants.

“It will be difficult to drop any of the presidential aspirants through the screening process,” the source said.

It was also learnt that the NEC would also constitute screening committees for governorship, National Assembly and House of Assembly aspirants.

Meanwhile, the APC has attacked Senate President David Mark over his call

for the postponement of the 2015 general election.

The party said those calling for the postponement of the polls should perish the thought.

At the resumption of Senate session last week it was alleged that Mark had said since Nigeria was in a state of war, due to the ongoing activities of Boko Haram the country should forget elections for now.

But Mark had denied the statement, saying he did not call for the postponement of the polls.

However, APC National Publicity Secretary, Alhaji Lai Mohammed, stated that Nigerians would not accept, under any guise whatsoever, any scheme by desperate elected officials to get tenure elongation by

subterfuge.

The party said the statement credited to Mark, despite his denial, was a reflection of the thinking in government circles. ''We in the APC saw this coming, and we have said it at several fora that the Jonathan administration has deliberately allowed the insurgency in the North-East, an opposition stronghold, to fester so he can cash in on it to get reelected. Simply put, the administration has been playing dirty politics with Boko Haram, at the expense of the lives and property of the citizenry and the wellbeing of the nation," it stated.

According to the APC, the statement by the Independent National Electoral

Commission (INEC) Chairman, Prof. Attahiru Jega, that the commission has started preparing for elections even in the NorthEast, represents a ray of hope.

Mohammed at another forum at the weekend, also told the PDP to be prepared for an embarrassing defeat in the 2015 elections.

Addressing party supporters at a rally in Lagos to welcome some defecting PDP members to APC, Mohammed said the opposition party would form the next Federal Government.

He said the acceptance and the popularity the party had gained barely two years that it was formed was a pointer that the end of PDP rule was imminent.

IGP restates ban on roadblocks Emmanuel Onani

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he Acting Inspector General of Police (IGP), Mr. Suleiman Abba, has reiterated that the order banning roadblocks on highways remains in force.

A statement signed by the Force Public Relations Officer (FPRO), Emmanuel Ojukwu, an Acting Commissioner of Police, said the IGP directed police commissioners and heads of formations in zones where roadblocks may be resurfacing, to dismantle them forthwith.

"The Inspector General of Police has stated unequivocally that the order banning the setting up of Police roadblocks nationwide is still strictly in force.

"In a directive issued to all Commands and Formations of the Force, the IGP warned that all semblances of Police roadblocks and permanent check-points reportedly re-emerging in some parts of the country, especially in the SouthEast, South-South and South-West geo-political zones of Nigeria should immediately be dismantled,” Ojukwu said.

The IGP, who described the trend as a serious violation of subsisting order on roadblocks, warned that severe sanctions await any police commands, formations and personnel who violate the order.

While charging the

Commissioners of Police and Heads of Formations to ensure total compliance with this order, the IGP further orders extensive visibility patrol and effective surveillance on all roads.

The declaration came as Nigeria joined the rest of the world yesterday, to mark the World Peace Day. The police also said that more officers will be trained in conflict resolution, mediation and negotiation.

According to the statement, the Family Units and Juvenile Centres of the police, will be "reinvigorated, for effective service delivery.

The IGP said: "As Nigeria joins the rest of the world in marking World Peace Day on September 21, the Nigeria Police wishes to restate its resolve to work assiduously for the enthronement of genuine peace in the nation.

"As peace officers and front liners in the drive for a peaceful world, the Nigeria Police understands the dislocation and trauma that happen to families, homes, cities and businesses in the event of disturbances.

"The Inspector-General of Police, Ag. IGP Suleiman Abba urges all citizens to embrace peace at all times, and to assist law enforcement agents in the preservation and maintenance of peace nationwide," the statement noted.

L-R: Emir of Kano, Alhaji Muhammadu Sanusi Lamido II; Oba of Lagos, Alhaji Rilwan Akiolu and former Governor of Lagos State, Senator Bola Tinubu, during the emir’s visit to Tinubu in Lagos…yesterday.

Army Council may ratify death sentence on mutineers CONTINUED FROM PAGE 4

Asked whether the exercises have bearing with the counter-insurgency war in the North East, he retorted: "Why do you journalists feel that every court martial, must be about the ongoing counter-terrorism war?"

According to him, "court martials are routine and regular in the military; it must not necessarily be about that."

Meanwhile, New Telegraph has gathered that the military was not happy with the disposition of the US toward the ongoing counter-insurgency war in some parts of the North.

Though, the US has been involved in intelligence gathering, especially as it relates to the rescue of over 200 Chibok girls, another source disclosed that the military was not comfortable with their

presence.

He argued that, "the ongoing twin efforts at rescuing the girls and also ridding that zone of terrorist elements, are entirely being coordinated and championed by us (Nigerian military).

"I'm sure the authorities will soon advise the Commander-in-Chief of the need to ask them to leave," the source said.

He further alleged that,

"They are not really sharing intelligence with us.

"Do you know that they are even frustrating our efforts to procure hardware from Israel and other foreign nations," he claimed.

Efforts to get the Director of Army Public Relations (DAPR), Brig. Gen. Olajide Laleye, to corroborate the story, were not successful, as calls put to his mobile phone, were not answered.

Pressure mounts on president to choose new running mate CONTINUED FROM PAGE 3

ity Secretary, Chief Olisa Metuh, who described Sambo as "the second most loyal vice-president in the country" said at a press briefing in Abuja that many people were trying to speculate on whether Jonathan and Sambo would run a joint ticket in 2015.

"Why don't we wait until the president declares?

The PDP has mentioned that it is a winning team.

The president has done very well. I believe there is no need to maginfy or attempt to import any difference between the president and the vice-president. The president and the vicepresident have worked so well.

"The vice-president has been the second most loyal vice-president in the history of this country besides the president when he was the vice-president.

I believe he enjoys the con-

fidence of the president.

And by 2015 elections, if the president accepts to run, then we will be able take it to the next level," he stated.

On whether governors and lawmakers seeking re-election too will benefit from the automatic ticket given to Jonathan, Metuh said their cases were not similar.

"The National Executive Committee (NEC) of the PDP, besides the na-

tional convention, is the highest decision making organ of the party. And it is therefore only the national caucus and executive that can handle such decisions.

Some decisions do not go down the line to states and local governments and so on. There is only one NEC of the party but we have 36 states and 774 local government executives. So the decision of the NEC can only be reversed by the national convention," he said.

6

NEWS

Monday, September 22, 2014

INEC, Jega sued over new polling units Tunde Oyesina ABUJA

T

he Independent National Electoral Commission (INEC) and its Chairman, Prof. Attahiru Jega had been dragged before the Federal High Court sitting in Abuja over the creation of additional 30,027 polling units.

The plaintiffs – Ikogi Joseph from Bayelsa State, Odumegwu Chinedu from Anambra State and Omotoso Nicholas from Ekiti State – want the court to restrain INEC from giving effect to the new polling units.

Apart from INEC, the office of the Attorney General of the Federation (AGF) was also joined as a defendant.

The plaintiffs through their counsel, Dr Olukayode Olatoke (SAN) posed six questions for the determination by the court.

All the questions queried the basis for the creation and the legality of the new polling centres recently announced by INEC. INEC and the AGF have yet to respond to the suit which was filed on September 10.

The plaintiffs asked the court to declare that INEC acted beyond its

power under sections 73 (1) and (2) of the 1999 Constitution when it created the new polling units.

They argued that a fresh national population census had to be conducted before new polling units could be created and that since no such census was conducted, the new polling units were illegally created.

They also asked the court to declare that: "The act of INEC in creating more polling units for the northern part of Nigeria in utter neglect of the southern part is discriminatory and against the express provision of section 42 (1) (b) of the 1999 constitution."

In an affidavit filed in support of the originating summons, the first plaintiff, Joseph, said that INEC without any basis increased the number of polling units from 119,973 to 150,000 and arbitrarily allocated same to various states.

He stated that INEC, without justification, discriminatorily allocated 24,386 polling units to the North out of the 30,027 polling units and allocated the remaining 5,641 to the southern part of the country.

He averred that with

Oil reserves reduce to 35bn barrels CONTINUED FROM PAGE 4

data has been duly processed and is ready for interpretation. Preliminary seismic data interpretation has produced some leads that will be further investigated to establish drillable prospects,” Obateru said.

The Nigerian Association of Petroleum Explorationists (NAPE) had earlier declared that depleting oil reserves in Nigeria could only be salvaged by increase oil exploration.

NAPE President, Adedoja Ojelabi, who stated this on the sideline of the monthly technical meeting of the association in Lagos, added that the ratio of oil production to exploration in Nigeria was not balanced.

“All companies are interested in exploration and production and you cannot continue to produce if you don’t find more oil or gas or hydrocarbon,” she said, adding that everybody “is cognizance of the fact that you must replace what you

are producing and that means we must explore.”

“There are issues concerning the low exploration. First of all the technology; there are also issues of finding; there are issues of regulation,” Adedoja said arguing that all these “things may make IOCs and independents a little bit careful because, you are talking about investments. Investment in the oil sector is capital intensive. It is not something you just jump into without doing your home work.

“We have the PIB, which is pending, hopefully, it would be passed.

We also have the new marginal field policy that is ongoing. So, if you are going to put in a lot of money, you will want to ensure that the environment is okay, free and fair for you to make your money back.

I believe all the parties are working to create that enabling environment and those are also the kind of things that NAPE is doing.”

the distribution of the new polling units, the 19 states in the North would have 83,607 polling units while the 17 states in the South were allocated 66,393 units.

He said: "I know as a fact that in the northern state over 500,000 people have died and another 650,000 had been displaced as a result of the Boko Haram insurgency.

"That I know as a fact that most people that fled from Borno, Bauchi, Yobe, Adamawa, Niger, Kano, Kaduna, Plateau states and Abuja fled to

the southern part of the country and Cameroon."

He also claimed that the voting population of the northern states had reduced by over 20 million due to the insurgency in some states.

He concluded that the fact that many in the North had been forced to relocate to the south implied that the South should have more polling units while the North should have less.

He added: "Rather than adding to the number of polling units in the southern part, INEC re-

moved and closed down may polling units in five states namely Anambra, Bayelsa, Ekiti. Enugu and Osun.

"That the formula for the creation of the new polling centres is a ploy for the Northern Nigeria to continue to dominate the South," he said.

Joseph also averred that there was no justification or any development to the voting regime in the northern part to justify that astrological increase to give advantage of about 14,000 polling units over

the south.

The plaintiffs further sought a declaration that section 42 of the Electoral Act, 2010 is not exercisable alone without recourse to section 73 of the 1999 Constitution as amended.

They also want a declaration that INEC could not alter or approve the creation of additional new polling units nationwide in the absence of another national population census after 2011 or any other verifiable and acceptable statistical basis.

L-R: Chairman, Nigeria Union of Journalists (NUJ), Edo State chapter, Mr. Desmond Agbama; Governor Adams Oshiomhole and NUJ President, Mallam Mohammed Garba, during a courtesy visit to the governor…at the weekend.

Banks to pay customers for using e-payments channels

T

he Central Bank of Nigeria (CBN) has approved an industrywide incentive scheme and awareness campaign for electronic payments' stakeholders and users.

Consequently, the CBN is collaborating with banks through the Nigeria Inter-Bank Settlement System Plc to work out a system that will make banks to pay customers, merchants and sales person for using electronic payment channels.

The scheme, which will commence from November 1 and in batches, is called Electronic Payments Incentives Scheme.

It will make bank customers, merchants and sales persons to receive cash and gift rewards for using electronic payment channels.

The banking watch-

dog said the move was in furtherance of the drive for pervasive usage of epayments in Nigeria.

The CBN, in circular dated September 18 and posted on its website, said the scheme would appreciate and reward usage across all channels with emphasis on channels of e-payments that promote financial inclusion.

The circular by the Director of Banking and Payment System, CBN, Mr. Dipo Fatokun, stated that: “The scheme has identified and will reward consumers, merchants and sales persons. The incentive is designed as a ‘white-label’ campaign in which all stakeholders are required to partner.”

According to the circular, the scheme will lead to a point-based reward system for consumers in

which Automated Teller Machine (ATM) cardholders will be rewarded based on pint grossed through frequency of card usage.

The Central Bank said NIBSS would implement the programme in conjunction with other service providers.

The CBN noted that the scheme would also involve cash refund to customers which was already being implemented by all the banks.

It added: “Merchants may leverage on the incentive scheme to offer promotional gift items to their customers, based on the usage of e-payments for transactions. Salespersons will be encouraged to support e-payments by having them enrolled on the tipping point schemes, through which they will

earn points accrued over a period. Such points may be redeemed by salespersons through various gift items or cash.”

The CBN director further noted that the EPIS would lead to reduction in merchant service charge from the current 1.25 per cent (N2000) to 0.75 per cent (N1200).

According to Fatokun, it will also lead to exemption from Commission on Turnover (COT) charges such that the free COT will be accelerated ahead of the dates in the ‘Guide to Bank Charges’ for merchants.

He said NIBSS would collaborate with DMBs for the implementation of Point of Sales functionalities that will permit merchants to offer cash-out services to their customers.

7

Monday, September 22, 2014

Kalu writes PDP reconciliation c'ttee to Abia, regrets absence Temitope Ogunbanke

A

former Governor of Abia State, Dr. Orji Uzor Kalu, yesterday wrote to the Peoples Democratic Party (PDP) reconciliation committee due to visit Abia State

today. Kalu regretted that he would not be on ground to receive the team, as he was currently on a business trip to China. He said that had he been around, he would have personally welcomed the team; a decision he described as a laudable

one by the party.

Kalu in a statement issued yesterday stated that setting up the committee to reconcile various contending interests round the country will go a long way in strengthening the ruling party before 2015 election.

He also urged PDP members across the country to close ranks and work in unity for President Goodluck Jonathan’s re-election.

The statement reads in part: “It has just been brought to my attention that a reconciliation com-

mittee set up by our great party, the Peoples Democratic Party (PDP) would be visiting Abia State today.

“I regret that this laudable initiative is taking place at a time I am outside the country, in far away China, on a business trip. It would have been my pleasure to welcome the reconciliation committee to our dear state, as one of the founding members of the party.

“I will like to state emphatically that having such committee to reconcile various contending interests round the country is the way to go. For President Goodluck Jonathan to have a landslide victory back to office after general elections next year, PDP must close ranks round the country.”

Kalu also pledged his support for reconciliation exercise in PDP not only in Abia State, but in all parts of the country where such is necessary.

“We need a cohesive front. As they say, the more the merrier. We do not need to antagonize any interest.

In unity and cohesion, PDP will not only win the Presidency with ease, but as many gubernatorial and National Assembly seats as possible, round the country.

“I hereby pledge my support for the reconciliation exercise not only in Abia State, but in all parts of the country where such is necessary. I salute our party leaders past and present, and urge them to count on my support and goodwill at all times,” the former governor stated.

B'Haram: Over 700 Gwoza indigenes flee to Nasarawa L-R: Vice-Chancellor, Covenant University, Prof. Korede Ayo; General Overseer, Winners Chapel, Bishop David Oyedipo and his wife, Faith, during the press conference to mark the 60th birthday of Bishop Oyedipo, at Otta, Ogun State…yesterday.

Enugu 2015: Ekweremadu’s ally, others join guber race lAs APC tells defectors to act now or never Uwakwe Abugu Enugu

T

he political environment of Enugu State experienced a new upbeat at the weekend with governorship campaign posters and bill boards of Mr. Chinedu Onu, believed to be an ally of deputy senate president, Chief Ike Ekweremadu, appearing in strategic locations, especially in the urban town of Nsukka.

Also seen at many locations yesterday were the gubernatorial campaign

posters and bill boards of another aspirant on the platform of the People’s Democratic Party, Mr. Chidi Mark Obeta, who has been largely unknown in the political arena in relation to the coming governorship contest which has been zoned to the Enugu North senatorial zone(Nsukka zone) by the ruling party.

However, as the appearance of their campaign bill boards made waves and drew attention from political players and residents alike, the state

Wakil: Outage in Borno 'll soon be over

T

he Federal Government yesterday said that it was doing everything possible to restore power supply in Borno, following three months outage, caused by attacks on power facilities by insurgents.

Alhaji Mohammed Wakil, Minister of State for Power, gave the assurance after inspecting some of the facilities in Maiduguri.

“Mr President commends the patience of the people of Borno over the long power outage. This unfortunate incident has never happened in the history of the state.

“The Federal Government has taken all necessary measures to secure power installations, not only in Borno, but across the North East.

“I wish to appeal to our people to cooperate with security agencies for the protection of power infrastructure in the state,’’ he said.

The minister said government had approved the upgrading of the Baga road power Substation, to improve its output.

“I want to assure you that work on all on-going power projects in the state, is being fast-tracked," he said.

chapter of the opposition All Progressive Congress (APC) vowed not to open its doors to political office seekers rejected by the PDP during primaries, who may want to embrace the opposition party as a last resort.

Enugu State chairman of APC, Dr. Ben Nwoye, who gave the warning after weekend’s state executive committee meeting said, "those who want to join us from the PDP should do that now by registering officially, because there will be no room for

those who would want to come during injury time after being rejected by the PDP".

The race for the PDP ticket in the state so far, has been marked by dearth of open politicking. But that appears to be giving way to underground moves. The appearance of campaign posters of the speaker of the state assembly, Hon. Eugene Odo, about a fortnight ago appears to have opened the flood gate for what may be a crowded race in the state.

NIBSS’ instant payment platform hits N10.85trn mark Godson Ikoro

T

he funds transferred through the Nigeria Inter Bank Settlement Systems (NIBSS) instant payments platform has hit N10.85 trillion, Mr. Dipo Fatokun, Director, Banking and Payments System, Central Bank of Nigeria (CBN) has said.

Fatokun disclosed this in his keynote address on “Electronic Payments in Nigeria: Past, Present and the Future,”at the Annual Conference of the Finance Correspondents Association of Nigeria (FICAN)) held at the Peninsula Resort Lekki, Lagos at the

weekend.

Noting that the successes recorded so far have been encouraging, Fatokun said electronic payments channels have been broadened with several options, such as online web payments, electronic funds transfer, various forms of cards, Point of Sales (PoS), Automated Teller Machines (ATMs) and non-cash transactions.

To buttress the point that the channels are recording enormous growth, the CBN Director noted that the NIBSS Instant Payments (NIP) used for online transfers has moved up tremendously.

Yekeen Nurudeen Abuja

F

ollowing incessant attacks on their village by members of the Boko Haram insurgent group, over 700 indigenes of Gwoza village in Borno state are currently taking refuge in a village in Nasarawa State.

The refugees, who fled their homes in March and August this year, were among the 10,000 indigenes of Chibok and Gwoza, who escaped to Cameroon but came back to Nigeria.

According to Yohana Wurawa, who is the leader of the refugees taking refuge in a make shift Internally Displaced Camp (IDC) in Kugbaru village, Karu Local Government of Nasarawa State, life has not remained the same for them since they

were forced out of their ancestral home by the Boko Haram men.

Kugbaru is off Mararaba and about 60 kilometres from the Federal Capital Territory (FCT), Abuja.

While recalling his ordeal and those of his people in the various attacks that led to their exodus from Gwoza, Wurama said they had suffered irreparable loss.

The refugees, who are majorly women, children and elderly, fled Gwoza in March this year when their village came under attack.

Wurawa, who told New Telegraph yesterday at the camp that the primary school where he was the headmaster was burnt down by the insurgent group, disclosed that the refugees are currently camped in three different camps in the village.

Oyo seeks investors Clem Khena-OGBENA

T

he Oyo State Government has said that it was in dire need of both local and foreign investments in the untapped mineral resources that abound in the state.

Deputy Governor of the state, Chief Moses Alake Adeyemo, expressed this desire in an interview with journalists when he met with the Executive Secretary, Nigerian Investment Promotion Commission, NIPC, Mrs. Saratu Umar, in Abuja.

He stated: "If all Nigerians are doing this kind of thing, the country would

be better off, because you have everything in this commission. We have a lot of mineral resources in Oyo State that are not yet tapped.

"Like I said over there, we have a lot of land in Oyo State, arable land that you can use for farming and also manufacturing industries. What we are trying to do is to engage the youths in profitable employment. You know we have insecurity in Nigeria, and if every youth or majority of our youths are employed, you would not have security challenges in the country," Adeyemo added.

8

NEWS

Sanctity of Truth

Monday, September 22, 2014

Fayemi commences ‘thank-you tour’ of 35 councils

E

kiti State Governor, Dr. Kayode Fayemi, will today commence a ‘Thank-You Tour’ of all the 16 local government areas and the newly created 19 local council development areas of the state to kick-start activities marking the fourth anniversary of his administration.

No fewer than 60 projects, including legacy projects scattered in the 35 council areas would be commissioned by the governor during the twoweek tour. Others are water, roads hospitals and community empowerment projects.

Some of the legacy projects to be commissioned to mark the fourth anni-

versary of the Fayemi administration include the new Government House; the 12,000-seater Ekiti Parapo Square (the State Pavilion), the Oba Adejugbe Hospital and the College of Technical and Commercial Agriculture.

The pilot irrigation project sponsored by the three serving senators in the state would also be commissioned.

Other highlights of the fourth anniversary celebration, which will climax in the handing over of power and the inauguration of a new government on October 16th, include a book presentation, thanksgiving service and launch of a new housing scheme.

Oshiomhole, striking workers flex muscles over sack threat EDUCATION

Tertiary institutions owned by the Edo government may remain shut if workers stay away Cajetan Mmuta BENIN

M

ore trouble will confront striking lecturers of Edo State-owned tertiary institutions as the state government has threatened to sack members of the academic staff and others on strike

should they fail to return to work today.

Members of the academic and non-academic staff under the umbrella of Coalition of Unions of Edo state Owned Tertiary Institutions, had last week, declared an indefinite strike over the nonpayment of their 16-month salary arrears and poor facilities in the various institutions.

The affected institutions include the College of Education, Ekiadolor; College of Agriculture, Iguoriakhi; Institute of Management Technology, Usen and College of Education,

Igueben, respectively.

But the government yesterday insisted that it was not indebted to the affected institutions and had set up boards to look into their problems and report back.

The coalition yesterday vowed to protest against the government’s plot to relieve them of their jobs and has directed all its members to dismiss the threat.

They cautioned that the strike was aimed at drawing the attention of officials of the government to address the myriads of problems within the insti-

tutions, including welfare of staff and not to thwart the strike.

President of the coalition, Comrade Fred Omonuwa, yesterday confirmed the plan by the government to sack the workers.

He said: “We want the public to understand that the strike involves both academic and nonacademic staffs of these institutions; yes, we have been informed that the government wants to find a back door to destroy the strike by threatening to sack workers of these institutions.”

NANS, JCC endorse Okubor as Uduaghan’s successor Dominic Adewole ASABA

T

he governorship ambition of the Chief of Staff (CoS) to the Delta State Governor, Emmanuel Uduaghan, Dr. Festus Okubor, yesterday received a boost as endorsements came from two notable groups in the state.

The National Association of Nigeria Students (NANS) and the Joint Campus Committee (JCC) have thrown their weight behind Okubor.

Their endorsement came barely 10 days after Oshobe group besieged Okubor's Boji-Boji Owa home, beseeching him to declare for the race.

NANS’ Secretary-Gen-

eral, Comrade Onos Ovwoshokpite, who alongside the President of the Students’ Union Government (SUG), College of Education, Warri, Comrade Precious Ajobina, said the constitution of the association empowered them to throw their weight behind any deserving personality who has contributed to peace and development, describing Okubor as “an ambassador of good governance.”

According to Ovwoshokpite, the understanding is that 2.5 million Nigerian students, represented by the executive committee of the union at the ceremony, including those from Delta State, have endorsed Okubor as the governor of the state, come 2015.

Ogiewonyi lauds Edo APC lawmakers Cajetan Mmuta BENIN

F

ormer Minister of State for Works, Chief Chris Ogiewonyi, has commended lawmakers of the ruling All Progressives Congress (APC) in Edo State for the maturity displayed to save the state from chaos in the wake of the supremacy battle with their counterparts of the PDP over the control of the state

legislature.

Ogiewonyi said but for the sense of duty and interest of the people, the state would have been at war.

He spoke at the launch of a book on the biography of mother of the state governor, Alhaja Aishetu Oshiomhole, written by Mr. Imuzeze Ofen-Imu titled; “Igovina Emosi” (The Queen of Ladies) held at the weekend at Iyamho, Etsako West Local Government of the state.

Delta State Deputy Governor, Prof Amos Utuama (left), signing a condolence register opened for the President General of the Urhobo Progress Union (UPU) at Adagbrasa, Okpe Local Government of Delta State, late Maj.-Gen. Patrick Aziza (rtd), during his visit to the family…at the weekend. With him is the Acting President General, UPU, Chief Joe Omene, JP.

Suswam tasks supporters, promises 12 new LCDAs Cephas Iorhemen MAKURDI

A

s the Independent National Electoral Commission (INEC) released the timetable for the conduct of primaries of elective positions by the Peoples Democratic Party (PDP), Benue State Governor, Gabriel Suswam, has tasked members of the party to brace up and ensure victory for the party.

He gave the charge at the weekend in Van-

deikya Local Government while flagging off his free medical treatment mission.

The governor said the party is poised to clinch all the elective seats in the state ahead next year's general elections, assuring the people that the primaries would be conducted without bias.

He added that where a clear winner does not emerge, the Option A4 method, where delegates line up behind their candidates, would

be adopted.

The governor appealed to the people to rally round him in ensuring that he gets nomination for the senate seat of Benue North East, that he said will be his reward for appointing over 40 of their sons in his cabinet, pointing out that several developmental projects such as electricity, roads and schools renovation amongst others have been carried out in the area by his administration.

He also announced

plans by his administration to create 12 development areas before leaving office in May 2015, to bring development closer to the rural dwellers.

“I am going to inaugurate a seven-man committee to actualise this; I will also ensure that the bill for the creation of first class chiefs is passed into law before we leave office. So, I advise you to start consulting amongst yourselves, who would be installed in these positions in your domain,” Suswam said.

9

NEW TELEGRAPH

www.newtelegraphonline.com/metro

ABIODUN BELLO FEATURES Editor

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

0802 393 8212

monday, SEPTEMBER 22, 2014

A community in the grips of violence One of the injured youth

Another victim being taken to the hospital

Camillus Nnaji

T

he residents of Otodo Gbame, popularly called ‘Ikate Waterside,’ in Eti-Osa Local Government Area of Lagos State have cried out over incessant attacks by a group which have led to loss of lives and destruction of property in the community.

The people, who spoke with NT Metro, called on the state government, the police and other security agencies to save their lives.

The youth Leader, Celestine Zannu, said a group of hoodlums numbering about 30 invaded the community, destroyed property and set fire to houses.

He said: “One man called Wasiu is the ring leader. He is from Elegusi. He has been coming here to sell land at night; now he has taken another step by inviting thugs to destroy our community, thereby leaving several families homeless.”

Zaanu claimed that the fire set to house in the community led to the death of twins and a Hausa man.

He added that several others had been attacked while they were in their houses, leaving them with severe injuries.

Also, the youth Secretary, Emmanuel Anasu, wondered why the people had been subjected to such treatment.

He said the area had been occupied by people from different tribes for over 20 years.

According to him, a man called Bello bought several plots of land making up the community from Elegusi community.

Anasu added that because of development, people from different tribes such as Egun, Yoruba, Hausa, Igbo, Ijaw, had occupied the area.

NT Metro reported on September 15 how a 27-year-old mother of three, Mrs Cesi, was raped during one of the violent attacks on the community.

As a result of the rape, the victim’s husband said the woman had ceased to be his wife, in line with his tribe’s tradition.

Also, the Baale of the community,

Mr Dasu Mfe, said that he had to invite the police because of the level of the destruction wrought on his subjects.

A police source at Jakande Police Station said the police were investigating the matter.

He said the state Police Public Relations Officer (PPRO), Ngozi Braide, would give further details of the matter.

But when contacted, Baide refused to speak on the matter and did not reply SMS sent her.

Efforts to reach the Anofiu of Elegusi, Oba Elegusi, were frustrated by several youths who did not allow access to him.

The Information Officer, Eti-Osa Local Government, who gave his name as Mr Babatunde, confirmed that there was violence in the area.

Babatunde, however, refused to details.

He said: “The chairman has travelled out of the country. He is in the best position to speak on Ikate Waterside. But we have seen and confirmed the violence in the community.”

A man who sustained head injury

Some displaced Otodo Gbame residents

Rapist pays N40,000 compensation to victim’s father Camillus Nnaji

A

47-year old man, identified simply as Victor, has defiled a 14-year-old girl, Chinyere.

But to ward off prosecution, the man has paid N40,000 as ‘compensation’ to the girl’s father, Mr Ogbonna, residing at Nissi area of Mowe in ObafemiOwode Local Government Area of Ogun State.

The rape, according to a witness, was confirmed by a medical certificate issued from Iyaniwura Health Centre, Mowe, stating that Chinyere was not only raped but deflowered as she was experiencing sex for the first time.

It was gathered that Ogbonna accepted the money from Victor last week to withdraw the matter from Mowe Police Divisional Headquarters as the police were preparing to take the case to court.

A witness, Angela Nnabugo, said she was the first person to suspect what happened to the girl.

She said: “It was raining heavily when Chinyere ran into my shop, sweating profusely. I could not understand that kind of heat on a day the weather was so cold, so I asked if she was sick, but she said no.

“After that, I saw trickles of blood on her legs. I asked her if any man did anything to her. Apparently because she was warned not to talk, Chinyere refused to tell me what happened.

Nnabugo added that this prompted her to send for Chinyere’s mother, Mrs Ogbonna, who also threatened to deal with her if she refused to say the truth.

She added: “The mother and I questioned her again and she told us the truth. She said Victor, who lives in next house, asked her to buy rice and bring it

to his room upstairs. When she entered Victor’s room, he threw her on the bed and forcefully had carnal knowledge of her. She said she was shouting but the rain did not allow her voice to be heard.”

Having discovered that his sins had been uncovered, Victor, a construction worker with one of the leading construction firms, fled to Imedu Nla, a neighbouring community.

Nnabugo said: “The ‘Omonile’ at Imedu threatened to beat him on the street unless he reported himself to the police.”

A police source at the Mowe police station confirmed the incident but said the parents of the girl had asked them to free Victor on the grounds that they had settled the matter.

It was gathered that the settlement was N40,000, which Victor paid to the Chinyere family.

10 METRO

Nine apprehended for fake FIRS jobs, promotion

N

ine suspects have been ar rested in connection with a fake recruitment exercise into the Federal Inland Revenue Service (FIRS).

The suspects are being investigated for forgery, impersonation of of ficials of FIRS, other federal ministries, agencies and banks, deceit of members of the public and for soliciting for money for promotion of FIRS of ficials.

T he suspects, ar rested by security of ficials working with FIRS after m o n t h s o f i nve s t i g at i o n a n d e l e ctronic and telecommunications trail, employed a vast network of websites, email addresses, computers, telephone lines and bank accounts - spread over dif ferent parts of the Federal Capital Ter ritory (FCT).

They allegedly solicited and received money from members of the public on a non-existent recruitment into FIRS. Some of the suspects promised they would facilitate the promotion of several FIRS of ficials.

The suspects sent SMS to spouses, relatives and persons connected to FIRS staf f.

Among the suspects being ques tioned by security agencies are Alex Oki, David Kachia, Yakubu Tanko, Mohammed Shuaibu, Kehinde Jamah, Ogbonna Agwu, Aminu Ibrahim, Pascal Ajah and Chris Onyekachi.

Sources close to the investig ation said that suspects’ operational items: telephone lines, several SMS cards and communication equipment were retrieved from the suspects’ residences.

Other items are bags containing assorted documents -including FIRS staff records, a Toyota Carina II, assor ted complimentary cards, a polythene bag containing bank deposit slips and an album of photog raphs as well as documents from several ministries and Federal Gover nment agencies.

Luck ran out on the suspects when a member of the gang sent an SMS soliciting payments from a very senior FIRS staf f to facilitate the of ficial’s promotion.

Nigerian arrested at Kenyan airport with heroin A

Nigerian has been arrested at the Jomo Knyatta International Airport, Kenya, with pellets of narcotics suspected to be heroin in his anus.

The suspect, according to an online news medium, had inserted several pellets in his anus before he was intercepted while on transit from Pakistan to Guineu Bissau.

Police said he had emitted 20 pellets of the drugs believed to be heroin by yesterday morning.

The man was intercepted and put on observation room when he emitted the pellets.

The value of the narcotics is yet to be known but he would appear in court today when he is expected to have finished emitting all the pellets, said police boss, David Kimaiyo.

The incident is the latest in a series of recoveries at the airport.

In July, another Nigerian was arrested after he had been carrying several pellets of heroin valued at more than Sh2 million.

The man had arrived at JKIA aboard KQ from Dubai while on transit to Abidjan when he was intercepted by the police.

The arrest came days after another Nigerian was arrested while carrying 53 pellets valued at more than Sh4 million.

Monday, September 22, 2014

Six killed as PDP, APC thugs clash in Lagos Juliana Francis

S

ix persons have been killed and several others injured during a clash between members of the Peoples Democratic Party (PDP) and All Progressives Congress (APC) at Isale Eko area of Lagos State.

Five of them were killed yesterday while one was killed on Saturday when the fight started.

A police source said the fight was a fall-out of President Goodluck Jonathan’s visit to Lagos on Saturday.

Apparently some youth members of APC were angry President Jonathan over the President’s visit, which they saw as a subtle than’s visit on Saturday. way to campaign in their ter- They said he came to Tafaritory. wa Balewa Square (TBS) to “Nobody knows what re- campaign. The first person ally happened. But it has was killed on Saturday. The something to do with Jona- man is said to be a member

of APC. Members of APC today killed five members of PDP,” the police source said.

But when contacted, the state Police Public Relations Officer (PPRO), Ngozi Braide, said it started on Saturday after a chairman of the National Union Road Transport Workers (NURTW) was allegedly killed by a PDP member.

As at yesterday evening, the police had deployed over 20 patrol vans and Armoured Personnel Carriers (APCs) to curtail the spread of the violent confrontation between the two groups.

It was also learnt that one Sego, an NURTW member, who is a thug working for a former Lagos State governor on the platform of APC, organised the hoodlums yesterday and handed them AK47 rifles. He later led them to

where they allegedly shot and killed five PDP members.

Some angry people were sighted destroying posters of APC near the Oba’s palace yesterday at Isale Eko. Police have recovered over 16 expended AK47 cartridges and 20 pump action expended cartridges.

It was also gathered that last week, the police arrested 15 members of PDP and charged them to court over offences yet unknown.

“On Saturday there was a problem. Someone shot chairman of NURTW. The shooter is said to be PDP member. Today, in a reprisal attack, APC members went to fight and shot two persons.

They were rushed to the hospital by the police. Security has been beefed up in the area.”

Gunmen kill pastor’s wife, abduct two-year-old daughter Clement James Calabar

T

hree gunmen yesterday killed the wife of the Senior Pastor of Christian Hope Ministry, Odukpani, Cross River State, Pastor Godwin Bassey, and abducted his two-year-old daughter.

Bassey’s niece, who gave her name simply as Esther, said the woman, Glory, was murdered in the early hours of yesterday.

According to her, the incident happened shortly after the pastor went to the church to arrange seats and sweep the premises for the day’s service.

She said: “As we were about going out with my uncle, we

saw a car parked by our house.

About three people came out to ask for water to put in their radiator, while others were waiting in the car. My uncle gave them water and they went back to their car, after that we left to sweep the church and arrange seats.

“We were in the church when somebody called my uncle that his wife has been killed. When we got home, we saw Aunty Glory in the pool of her blood, lifeless. They also took Blessing away.”

Bassey is an indigene of Ebighi Eta, Okobo local government area of Akwa Ibom State, but resides in Cross River.

It was gathered that short-

ly after Bassey drove out to his church, the assailants, who seemed to have been monitoring his movements, returned with the water container and attempted to abduct Blessing.

The pastor’s wife struggled with them and shouted for help but no help came. In the process, they gave Glory the beating of her life. But when the beating did not weaken her resolve, they shot her three times.

After that, they left with Blessing.

The woman’s body has been deposited at the General Hospital, Calabar.

Bassey could not be reached for comments as he was not at

IG, Sulaiman Abba

home when our correspondent visited.

His telephone lines were also switched off.

However, the state Police Public Relations Officer (PPRO), ASP Hogan Bassey, confirmed the incident, adding that the case was being investigated.

Two NURTW members held for robbery Taiwo Jimoh wo executive members TRoad of the National Union of Transporter Workers

(NURTW) are now in the custody of the Lagos Special Anti-Robbery Squad (SARS) for snatching cars.

The suspects, Saheed Amoo (35) and Tajudeen Rasheed (34), it was gathered, were executive members of the Jakande, Isolo motor park unit of the NURTW. They were apprehended by a police team led by Superintendent of Police, Abba Kyarri, following a petition from members of the association of Bureau de Change operators at the Airport Hotel complex.

A police source said that the two men were arrested around the Airport Hotel, Ikeja, when they went to rob a Bureau de Change.

Three members of the gang were killed during a gun duel with the SARS team.

The suspects

The source added that investigation revealed that the gang carried out most of its robbery operations around Obalende, Victoria Island, Ajah and other parts of South-West.

Two locally-made pistols, two knives, a fully loaded magazine of AK47 rifle and cartridges were recovered from the robbers.

In his confessional statement, Amoo told the police

that their major areas of operation were around Lagos Island and parts of the South-West region.

“Some of the cars we love to steal are Sport Utility Vehicles (SUVs) and other exotic cars,” he said.

Rasheed, who is also known as “Orjiboss,” told our correspondent that his role was to drive the gang’s car whenever they were going for robbery operations.

He said: “I was introduced to the job by a friend who told me that robbery is far better than being a member of the NURTW. I obliged and joined the gang.

“In each operation we went, I made about N300,000 compared to what I made at the motor park.”

When contacted, the Lagos State Chairman of NURTW, Mr Tajudeen Agbede, refused to speak on the issue.

He said: “I am in a meeting, send me an SMS.” But he did not reply the SMS at press time.

METRO

Monday, September 22, 2014

Lagos lifts traders, renovates burnt shops

Okpaka, Opete communities decry marginalisation Gabriel Choba

Ughelli

People of Okpaka and Opete TUduhe communities (Urhuegwior) in Local Government Area of

Oke-Osanyintolu (middle) during the disbursement

Muritala Ayinla came the way of traders whose Sfireuccour shops and goods were destroyed by at the Jakande Estate Retail Market as the Lagos State Government renovated their shops and offered them financial assistance.

Fire gutted the market on May 24 and destroyed goods and other valuables worth several millions of naira.

But presenting the cheques to the owners of the 20 burnt shops, the General Manager, Lagos State Emergency Management Agency (LASEMA), Dr Femi Oke-Osanyontolu, said the gesture was in line with Governor Babatunde Fashola’s policy to assist disasters’ victims in the state.

He said: “Emergencies and disasters, by nature, are unforeseen and sudden. And this explains why the blows inflicted by them are usually deadly and devastating. It is in line with this philosophy that the Babatunde Raji Fashola’s administration has graciously approved payment of this financial assistance to the affected victims of this fire incident.

“LASEMA, in pursuant of its statutory mandate for providing relief to affected victims of disasters through Extant Law 16 of 2008 of Lagos State, carried out the loss and need assessment (enumeration) which culminated into today’s exercise.

“This chain of financial disbursements aimed at bringing relief to the good citizens of the state lends credence to the sincerity and love of the state government for her citizens as the umbrella for all its citizens during the periods of happiness as well as periods of gloom.”

Commending the state government

for the regular financial assistance to the victims of disasters, Osanyintolu urged traders to be safety conscious at all times.

He said: “We in LASEMA use this opportunity to thank the state government for the kind support and understanding at every twist and turn, to make these proposals real.

“We must also remind you all of the need for care and alertness at all times; accord safety issues the deserved attention in all daily activities. When people become properly enlightened about matters of safety of lives and property, emergencies and disasters are brought to the barest minimum, for the overriding good of everyone and the society.”

According to him, traders need to insure their businesses to reduce the burden on them whenever such misfortune occurs.

“Our people should also take the advantage of insurance policies on their lives and property, in order to save the state government the usage of such fund for other developmental purposes.

“While congratulating the beneficiaries of this government’s gesture, we urge them to put the token to very judicious use,” he added.

Also speaking, the lawmaker representing the area in the state House of Assembly, Hon Omowumi Olatunji, commended the state government for fulfilling its promise by coming to the aid of the traders.

She said: “I join the traders to appreciate the state government for renovating the burnt shops and for assisting the traders financially. We are grateful and we will forever remain appreciative.

“The traders can now open their shops and continue their businesses.”

Delta State have called on the state government to recognise them in the scheme of things.

The President General of Okpaka, Olorogun Godwin Edoja, who spoke on behalf of the people while briefing jour nalists at his country home in Okpaka, bemoaned lack of state and local governments’ presence in the communities since 2011 when Governor Emmanuel Uduaghan assumed office.

He said: “The entire people of Okpaka/Opete (Urhiegwior) have never benefited anything from the government of Dr Emmanuel Uduaghan in his second term in office from 2011 till date.

“Also, there has been no recognition from the local government. We want stakeholders and indigenes of the communities to be recognised because we gave over 80 per cent votes to Governor Uduaghan in 2011 election but up till now, he has not remembered the people of Okpaka and Opete communities.

“We have been voting for the Peoples Democratic Party (PDP) at the local, state and federal levels during

atometer and A-scan, to the Ogun State Government.

Receiving the equipment in his office in Abeokuta, the Commissioner for Health, Dr Olaokun Soyinka, thanked the organisations, saying that the partnership between them and the state government had been on for some time.

He said: “People, who have one eye problem or another have benefited immensely. Patients are screened and those who are suitable for operation

are brought to the State Hospital, Ijaiye, Abeokuta, to have their eyes restored.”

Soyinka said that another project set up with the two NGOs was the artificial limb service project which had been on for the last three years.

The commissioner said a section of the State Hospital had been converted to an artificial limb service centre, adding that more technicians would be put on ground.

He said: “We are incorporating the service into the Araya Community Based Health Insurance Scheme.”

In an interview, the Chair man,

elections so we deserve to raise the alarm when we are not recognised in the system.

“Our people are suffering in abject poverty; no micro-credit scheme done by the state government, no youth empowerment, no SURE-P benefit, no employment, no political appointment, no project from the state or local governments has been located in Okpaka community; nothing to write home about.”

Edoja, therefore, appealed to Uduaghan to recognise Okpaka and Opete communities in the remaining months of his administration.

Uduaghan

Navy impounds vessel carrying stolen crude, destroys illegal refineries Joe Obende Warri

unrelenting battle by the NigeNavy against pipeline vandalTism,heriancrude oil theft and illegal refin-

ing in Niger Delta has paid off with the arrest of a vessel and the destruction of 55 illegal refineries.

The vessel, MV Maga, carrying 520 tons of stolen crude, was arrested on Dodo River, a boundary between Delta and Edo states, as it tried to sneak out of Nigerian waters.

It was arrested with a crew of 11 members, who are all Nigerians.

The Commander of Nigerian Naval Ship, NNS Delta, Warri, Navy Captain Musa Gemu, said the arrested ship was being taken to Sapele under military escort.

He said: “Those arrested will be handed over to the appropriate authorities for further investigation and prosecution.”

Meanwhile, the destruction of stolen crude and refined products in

Foundation, Rotary Club donate eye equipment to Ogun

ndo-Eye Care Foundation and Rotary Idonated Club International District 9110 have eye equipment, including ker-

11

Committee on Artificial Limbs Service, Rotary International, Rotarian Ademola Alli, said the artificial limbs were available to people with deficiency in lower and upper limbs, which would enable them to “walk, run and play whatever games”.

He said the limbs were free of charge and enjoined those in need to take advantage of the opportunity.

Earlier, the for mer President, Rotary Club of Palmgrove, Lagos, Mr Mukesh Bhatt, indicated that the hospitality of the state government and the doctors were unparalleled, expressing gratitude to the government for support at all times.

Ashafama creeks in Warri South-West Local Government Area was witnessed by journalists.

However, no arrest was made as those involved had fled to the creeks when their spies alerted them that the Navy was approaching.

The refineries occupied hundreds of hectares of vast creek land with crude and refined products pouring into the water.

The exercise was led by three officers, Commanding Officer of the Forward Operations Base (FOB), Escravos, Navy Captain Adekunle Okeniyi, Base Information Officer (BINFO), Lt-Commander Olutope Odunaike, and Base Operations Officer (BOO), Commander Shehu Akwu.

Speaking after the exercise, which lasted several hours, Gemu promised continued patrol of the area.

He said: “When we do that, they will get tired. That is the only solution.

“As long as my area of responsibility is concerned, illegal bunkering has drastically reduced. They (the oil thieves) are out of my place. You will probably find them in other places.”

With the successes recorded so far, Gemu said the Navy was not without challenges in its war in the Niger Delta.

He said: “Most of those involved are natives. They know the terrain more than we do, so, they go to places where we do not even imagine or think such things exist.

“We also have inadequate boats that will be able to penetrate deep into the creeks. Logistics is another.”

Such was the experience when the Navy moved journalists into the creeks for the exercise as one of the gunboats could not make the trip. It was dropped for a hired boat.

Even the other that went developed faults on sail.

12 NEWS

Sanctity of Truth

Monday, September 22, 2014

Amosun's associate, 2,500 others defect to PDP ne of the key political dreds of others from both OState associates of the Ogun Labour Party (LP) and Governor, Senator APC from Remo North, Ibikunle Amosun, Dapo Abiodun, on Sunday defected to the Peoples Democratic Party (PDP).

The Isara born politician and gubernatorial aspirant under PDP in 2003, at an event held at the Goodluck Jonathan Political Centre, Ijebu Igbo in Ijebu North Local Government Area of Ogun State, said he was very happy to reunite with his old political allies in the PDP. Abiodun was an All Progressives Congress (APC) aspirant for Ogun East Senatorial District until he decamped to PDP. In the same vein, Otunba Fatai Sowemimo, a former Commissioner for Youth and Sports under former Governor Gbenga Daniel, defected with hun-

Ikenne and Ijebu East local government areas.

Others who defected with over a thousand supporters were the APC Secretary in Remo North local government area, Mr. Ope Olateju, and the chairman of LP in Ijebu East local government, Mr. Ganiyu Ishola.

The Igbo and Hausa communities in Remo North local government, led by Prince John Okorie and Ahmadu Zaki respectively, also came in their hundreds to declare their support for the PDP. Receiving the defectors, PDP state chairman, Engr. Bayo Dayo, promised the defectors that they would enjoy all the benefits in the party just like the old members.

FRSC gears up for ember months Obinna Odoh Abuja

Federal Road Safety TthatheCorps (FRSC) has said it will deploy ma-

terials and resources to curtail road crashes during the ember months.

The materials it said, include three heavy duty trucks, 11 multi-carrier ambulances and motor bikes. It would be launched during the 2014 ember month programmes aimed at assisting the agency control the number of road accidents during this season.

This was contained in a press statement issued by the agency and signed by Corps Public Education Officer, Stella Uchegbu last weekend.

The Corps Marshal

Dangote: Nigeria still investment destination despite challenges

P

resident of Dangote Group and Chairman of Dangote Cement Plc, Aliko Dangote has urged Nigerians to see the currently challenges being faced by the country as a passing phase which will make the country to be more economically stronger in the future.

Dangote, who has always expressed his abiding faith in Nigeria as an economically viable nation, told a delegation of distributors from across the country, who paid him a visit in his office in Lagos that Nigeria still remained the destination of choice for investments despite the security challenges.

He explained that with good support for the government of the day in the task of tackling the challenges and the trans-

formation agenda of the Federal Government, the current challenges would soon be a thing of the past and Nigeria would come out stronger from it.

Said he: "I have always said it that Nigeria is a good place for investment. God has given us in Nigeria what many other countries don't have and they keep searching for it. We have got fertile land for agriculture, we have the minerals resources and we have oil. All we need to do is to harness them for our good.

"The present challenges we are facing should not deter us from growing our economy. It shouldn't stop us from investing.

It's just a passing phase.

Other countries who referred to as developed started from somewhere.

FRSC, Boboye Oyeyemi also confirmed it when he paid a courtesy call to the Minister of Works, Chief Mike Onolememe, in his office to The number of fixed-telephone subscriptions consolidate the partnership of Mexico in 2009. of FRSC and the ministry.

Source: Itu.int He explained that the gesture is in line with the agency's sustained efforts to achieve its strategic goal on road crash reduction by the end of the year when activities on Nigerian roads are doubled.

According to him, the improved partnership between the FRSC and Ministry of Works has also provided extensive mileage to concerted efforts by the Federal Government to bequeath conducive motoring environment to Nigerians as part of the transformation agenda.

19.5m

They all experienced some of these challenges in the past. So I want us to see these challenges as obstacles towards attaining greatness."

Dangote told the distributors that it was for this reasons that he had continued investing in Nigeria's economy because "If Nigerians do not investing their country, other people would not come. They will want to see our success story before they can come."

He then promised the distributors that his companies would continue to live up to expectation to ensure that their interests are protected at all times noting that as a matter of policy his companies have put in place an arrangement to consider relations of his distributors for job opportunities once there

21%

The percentage of population under 15 years in Chile in 2012.

Source: Un.org

is opportunity for that.

He stated that if there are people who should benefit from the job opportunities provided by this investments, it should first and foremost go to the distributors who are the strategic integral part of his cement business.

Dangote also informed the customers of the ongoing efforts to refine the service being provided for the customers saying going forward the customers would see a change and delivery of the product would be seamless and without hassles.

He took time to answer questions and observations raised by the distributors, who commended the business mogul for his doggedness in investment locally as opposed to others who chose to take money away from the country.

5.5m

TThe estimated number of deaths related to cardiovascular disease over the past 40 years.

Source: Smokingstatistics.org

Additional polling units, structural rigging, says Balogun Sola Adeyemo Ibadan

eoples Democratic Party PLekan (PDP) chieftains Senator Balogun, has flayed

the recently- created additional polling units by the Independent National Electoral Commission, (INEC), describing it as a structural rigging perpetrated by the elite.

As the Chairman, Board of Trustees (BoT) of Nigeria For Change, (NFC), a non-governmental, non-political organization, Balogun lamented that "apart from the fact that the figures upon which the exercise was based was fraudulent, it will go a long way in distorting the statistics of the National Planning Commission, thereby making future planning difficult and actual population of the regions difficult to get".

Speaking with newsmen at his Ibadan resi-

dence yesterday, the Ibadan High Chief blamed the elite who are given trust for compromising and allowing selfish interest to override and defeat genuine purpose of their being called to serve.

"Apart from INEC officials' fraud of infusing polling booths that do not reflect true picture of the electorate, the new polling unit is a tactical rigging of a zone against the others. Imagine the massive disparity in the population and the allotted polling units?

"The elite are very irresponsible in the way they rig. INEC's effort is best described as structural rigging; Unless certain changes happen in the country, we can never make it as a nation", the PDP chieftain stated.

He further advocated for a non-violent change at all levels of governance.

L-R: Committee member, 4th Anniversary, JKF Administration, Dr. Eniola Ajayi; Chairman, Media and Publicity Committee, Mr. Yemi Adaramodu and Commissioner for Special Duties, Chief Wole Adewunmi, during a press conference, ahead of the forthcoming anniversary, in Ado-Ekiti... at the weekend

Court orders Diamond Bank to pay lawyer N7.5m Foluso Ogunmodede n Igbosere High Adered Court, Lagos has orDiamond Bank

Plc., to pay a lawyer, Mr. Olatunde Adejuyigbe N7.5million in damages for its refusal to honour an agreement it entered with the lawyer over the receivership of a firm, Ladgroup Limited two years ago.

Trial judge, Morenike Obadina gave the verdict while reviewing the suit initiated by the lawyer wherein he had asked the court to compel the bank to honour the agreement it had with him especial-

ly his professional fees.

The N7.5m award represented the amount due to Adejuyigbe for services he rendered to the bank as a trustee to other banks in a consortium of lenders to Ladgroup Limited.

However, Justice Obadina gave the verdict against Diamond Bank following application for summary judgment brought by the lawyer, pursuant to Order 11 Rule 1 of the High Court of Lagos State Civil Procedure Rules 2012.

In an enrolment of judgment, the judge said: “Judgment is hereby entered for the claimant

against the defendant in the sum of N7.5 million, being the agreed professional fees due to the claimant as set out in the writ of summons, statement of claim and witness deposition in this suit.�

Besides, Justice Obadina granted interest as requested by the lawyer against the bank at the rate of 20 per cent per annum on the said sum of N7.5 million from April 1, 2012 until judgment and thereafter, at the rate of 15 per cent per annum until the debt was fully liquidated.

The judgment followed the plea by Ad-

ejuyigbe’s lawyer, Mr. Okechukwu Tagbo when the court, having read the affidavit in support of the application, entered judgment in the lawyer's favour.

Adejuyigbe, had in a suit No LD/ ADR/124/2014 filed an application for summary judgment in the sum of N7.5 million on the grounds that the sum which was agreed in March 2012 as due and payable by the bank to him for services rendered as a legal practitioner, had been ignored and refused despite repeated demands.

Endless intrigues over PDP presidential tickets / PAGE 14 | What next for Lamido? / PAGE 15

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

ayodele Ojo

Deputy Editor, politics

13

Kalu: There’ll be balance of terror in 2015

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

p-17

MONday, September 22, 2014

True to expectations, the Peoples Democratic Party (PDP), last week, adopted President Goodluck Jonathan as the party’s sole candidate for the February 14, 2015 presidential election.

ONYEKACHI EZE reports

Jonathan’s lone race

F

or President Goodluck Jonathan, the coast for re-election is getting clearer.

His adoption as the sole presidential candidate by the highest echelon of the Peoples Democratic Party (PDP) last week has made the battle for the party’s presidential ticket a walkover for him.

The drama that played out at the 66th National Executive Committee (NEC) meeting of PDP on Thursday, September 18 has continued to puzzle many who are conversant with the proceedings of the highest decision-making body of the ruling party.

The agenda for the day as disclosed by Chief Olisa Metuh, PDP National Publicity Secretary, was the ratification of the guidelines for the party’s primaries and national convention scheduled for November and December. But shortly after the opening prayers, Metuh diverted the course of discussion. He informed NEC members that the PDP Governors’ Forum had an urgent message to deliver.

Niger State governor, Dr. Babangida Aliyu, was the messenger. His choice may be in tandem with his portfolio, Chief Servant.

The message, according to Aliyu, was the adoption of President Jonathan as a sole candidate of the party in the 2015 presidential election, a decision he said was unanimous and without reservation.

To support his claim, Aliyu introduced Jigawa State Governor, Sule Lamido, who had indicated interest in challenging the president for the PDP ticket, to back up his claim. In turn, Lamido concurred with the decision.

This attracted applause and cheers from NEC members.

Aliyu informed NEC that the decision to adopt Jonathan by the governors was to ensure that the PDP goes into the 2015 general election as a united front so as to recover more states lost to the opposition.

“We want to recover our mandate in Kano, Rivers, Kwara, Sokoto, Adamawa, Nasarawa, and to win more states,” he added.

Torrent of adoptions The governors’ decision was followed by torrents of adoption as Metuh took turn to call representatives of the PDP Board of Trustees (BOT), PDP caucus in the National Assembly and PDP women.

Former Deputy National Chairman of the party, Alhaji Shiabu Oyedokun, who spoke on behalf of the BoT members, said the board in considering the need to further consolidate the gains so far achieved has “unanimously, willingly and joyfully adopted President Jonathan as sole candidate of the party.”

Oyedokun, who noted that “before, it appears everything want to collapse and suddenly we have stabilisation,”

L-R: President Goodluck Jonathan; Vice-President Namadi Sambo; Deputy National Chairman, Peoples Democratic Party (PDP), Prince Uche Secondus; Senate President David Mark (standing); Governors Godswill Akpabio (Akwa Ibom) and Jonah Jang (Plateau) at the 66th NEC meeting of the party in Abuja

commended President Jonathan for his Transformation Agenda.

He said the governors have done well to have adopted President Jonathan as sole candidate of the party for 2015.

President of the Senate, David Mark, who spoke for the PDP caucus in the National Assembly, noted that if there was any arm of government that wants continuity in government it is the National Assembly. He said that the caucus has long ago adopted President Jonathan as sole presidential candidate.

Former Nigeria’s Ambassador to Gambia, Mrs. Justina Eze, who spoke on behalf of PDP women, also said the body unanimously adopted Jonathan.

Apparently to give stamp to the resolutions, former acting National Chairman of the party, Dr. Haliru Bello Mohammed, who moved the motion for NEC to accept the adoption by the various organs of the party, observed that “in view of the fact that we have a tradition in PDP to queue behind our leader... I move that the NEC endorse, as has been done, the candidature of President Jonathan as a candidate of PDP to avoid factitious.”

The motion was seconded by former governor of old Anambra State, Senator Jim Nwobodo who also noted that “it is difficult to change a winning team.

This team has done so well, that Dr. Ebele Jonathan be returned as sole candidate of PDP.” When the National Chairman of the party, Dr. Adamu Mu’azu, put the resolution to vote. It was unanimously adopted.

‘I’m humbled’ Jonathan, who kept quite throughout the proceedings, said he was overwhelmed and humbled by the decision to

adopt him as sole presidential candidate of PDP in next year’s election.

Although he said he would reserve his formal declaration for a later date, the president said he lacked words to appreciate NEC for the adoption.

“Events of yesterday and what happened now, adopting me as sole presidential candidate of the party has humbled me; I am totally overwhelmed,” he said. ”When the governors came up with a jointly signed paper, though House of Representatives started it, it was like atomic bomb. I am so overwhelmed that I lack words to express myself. For you to express that kind of confidence in me, I am extremely challenged. It means that whatever we had done in the past three years, we will triple it. That is the only way Nigerians will appreciate it. I will not disappoint you.”

Mere formality For watchers of political events in the country, NEC was simply convened to give imprimatur to what was already obvious: the adoption of Jonathan as sole candidate of the PDP. When the governors met a night before the NEC meeting and announced the decision to adopt Jonathan, political observers knew that he would be adopted by the party for the simple reason that the governors control most of the delegates to the party’s National Convention.

At the PDP Governors’ meeting last Wednesday were 16 governors (two of them in acting capacity) and three deputy governors (Sokoto, Nasarawa and Jigawa). Sokoto and Nasarawa deputy governors attended because their governors are members of the opposition All Progressives Congress (APC) while

it was believed that Jigawa deputy governor was sent by his principal. Only Ebonyi and Bauchi state governors were absent at the meeting. The resolution to adopt Jonathan by the governors was unanimous.

Akpabio, who spoke to journalists after their meeting at the Akwa Ibom State Governor’s Lodge, Abuja said the decision to make Jonathan their sole candidate was not challenged by any of the governors who attended the meeting.

Akpabio said: “The forum hereby endorses President Jonathan for a second term in office and resolved to support his bid for re-election come 2005. The forum urges all PDP faithful to support this gesture which should enable the President to become the sole presidential candidate of the PDP come 2015.”

The BoT met that same night the governors adopted Jonathan. Chairman of the board, Chief Tony Anenih is a known supporter of President Jonathan.

The board may not have much difficult toeing the governors’ path because apart from Anenih, majority of the members are favourably disposed to Jonathan’s ambition.

A former Minister of Information, Prof. Jerry Gana, who spoke with newsmen after their meeting held at the Presidential Villa, said members of the board unanimously endorsed Jonathan after Akpabio addressed them on the forum’s earlier endorsement of the president, and their decision that none of the governors would contest for the party’s presidential ticket with Jonathan.

He said: “Having received that news, the BoT also unanimously resolved that CONTINUED ON PAGE 16

14 POLITICS

Sanctity of Truth

Monday, September 22, 2014

Jonathan’s lone race

Intrigues over the struggle for the presidential ticket of the ruling Peoples Democratic Party (PDP) is as old as the party itself, given the belief that whoever clinches the coveted prize is just a step to the presidency, writes FELIX NWANERI

Endless intrigues over PDP presidential tickets

T

he Peoples Democratic Party (PDP), a centrist political party formed ahead of the country’s return to civil rule in 1999 has remained dominant in the present political dispensation. The party, which prides itself as the largest political party in Africa has won four consecutive presidential elections – 1999, 2003, 2007 and 2011, and no doubt controls more than two-thirds of elective positions at the three tiers of government.

But the PDP’s victories have not been without intrigues among members of the party, especially over the choice of presidential candidates. This dates back to 1998, when the party held its first national convention in Jos, Plateau State to pick its presidential candidate for the 1999 elections.

The primaries was keenly contested between a former head of state and former vice president, General Olusegun Obasanjo and Dr. Alex Ekwueme respectively. Obasanjo had just been released from prison over a phantom coup against the General Sani Abacha regime, while Ekwueme championed the G34 that confronted Abacha over his transmutation agenda. The group later merged with some others to form the PDP. Ekwueme’s role in the formation of the party placed him ahead of other PDP presidential aspirants, but with the then out-going military regime of General Abdulsalami Abubakar and the top Northern military brass primed at imposing Obasanjo, not only as PDP’s presidential candidate but also as president, the former head of state won the primaries and went ahead to win the presidential election.

While the 1998 presidential primaries polarised the party into two factions, the contest for the 2003 ticket pitched the Presidency against some governors elected on the party’s platform. The governors, who were not comfortable with Obasanjo’s alleged highhandedness, plotted his replacement. Their choice was Atiku Abubakar, then vice president.

The plot rattled Obasanjo to the extent that it was reported that he went down on his knees to beg Atiku to ignore the governors. Although the former vice president shunned the offer, and opted to run under a joint ticket with his principal, the dust raised by the plot pitched both men on one hand, and Obasanjo and the governors on another hand.

The bitter political battle that ensued led to Obasanjo’s insistence that Atiku would not succeed him. This later resulted to Atiku’s exit from the PDP for the defunct Action Congress (AC), which handed him its presidential ticket on December 20, 2006 for the 2007 elections. He however lost the poll.

The 2007 scenario was interesting.

Former Rivers State governor, Dr. Peter Odili was the leading contender for the presidential ticket ahead the party’s primaries. Others in the race were former Governors Victor Attah (Akwa Ibom) and Adamu Mu’azu (Bauchi), now PDP national chairman as well as the incumbent Imo State governor, Owelle Rochas Okorocha.

Unlike the others, Odili traversed the length and breadth of the country; consulted political and religious leaders as well as other relevant stakeholders over

Obasanjo

Ekwueme

his ambition. He was even said to have secured Obasanjo’s endorsement before he declared his interest. At a time, his ambition seemed a done deal until the then Katsina State governor, Umaru Yar’Adua (late) was drafted into the race

by Obasanjo.

Expectedly, the decision did not go down well with Odili and his supporters.

He insisted on contesting the primaries, and many still believe that he would have won the contest even with Obasanjo’s backing of Yar’Adua but for the intervention of the Economic and Financial Crimes Commission (EFCC) then under Mallam Nuhu Ribadu.

He was forced to step down after the anti-graft commission allegedly confronted him with startling revelations bothering on financial crimes. His rating was proved during the primaries, as he still secured substantial votes even after backing out. The late entrant, Yar’Adua, emerged the PDP candidate, and went ahead to win the 2007 presidential election.

In 2011, the power play that characterised the PDP presidential primaries almost caused an implosion in the party.

Yar’Adua’s death midway into his tenure threw the party into crisis over which geo-political zone produces his successor.

With the South having done two terms of eight years through Obasanjo (19992007), the North insisted on completing its own two terms given the zoning arrangement of the PDP, even when Goodluck Jonathan, a southerner and Yar’Adua’s deputy had taken over the

Yar’Adua

Atiku

The PDP’s victories have not been without intrigues among members of the party, especially over the choice of presidential candidates reins of government in 2010, and was interested in running for the presidency.

The quest for power by the North forced some political leaders in the region to empower the Adamu Ciromaled Northern Leaders Political Forum (NLPF) to come up with a consensus candidate who will confront Jonathan at the party’s national convention from among Northern aspirants on the platform of the PDP. Notable among the aspirants were Atiku, former Military President, General Ibrahim Babangida; former National Security Adviser (NSA) and current Minister of Defence, General Aliyu Gusau and former Kwara State governor, Bukola Saraki, now a senator.

Atiku emerged tops among the aspirants though without an allegation that he was secretly behind the Ciroma committee. He was however defeated at the primaries by Jonathan, who went

Odili

ahead to win the presidency. The former vice president polled 850 votes against Jonathan’s 2,736. The other contestant, Mrs. Sarah Jubril was only able to muster one vote; a vote for herself. Jubril is now a Special Adviser to the president on Ethics.

Jonathan’s easy ride over Atiku at the primaries, it would be recalled, was largely attributed to the overwhelming support of PDP governors then. Numbering 22, the governors defied stiff opposition from the Northern political leaders who endorsed Atiku’s candidacy and insisted that a sitting president, who was not barred by the constitution should not be stopped from seeking the presidency as long as he remained constitutionally qualified.

But, unlike the past, political manoeuvrings started in several quarters three years to the 2015 elections. Ordinarily, the scheming would not have commenced at that moment, but for the alleged agreement President Jonathan reached with the PDP governors before they agreed to support his transition from acting president to president and subsequent victory in the 2011 PDP’s primaries and the presidential election.

During the tensed period that followed the hospitalisation of Yar’Adua in Saudi Arabia, there were speculations Jonathan promised the governors that he would only serve a term. But politics, being a game of interest, the President is set to mount the stage again to contest the PDP primaries though this time, there is unlikely to be any contest given his endorsement by the party hierarchy.

POLITICS

Sanctity of Truth

Monday, September 22, 2014

15

Jonathan’s lone race

Metuh: Dec 6 primaries mere formality Chief Olisa Metuh is the National Publicity Secretary of the Peoples Democratic Party (PDP).

He speaks on the endorsement of President Goodluck Jonathan as the sole presidential candidate of the party in 2015 elections in this interview with TEMITOPE OGUNBANKE What informed the decision of the party to endorse President Goodluck Jonathan as a sole candidate of the party?

Besides the issue of being a sitting President, we decided to endorse him on account of his tremendous application of democratic tenets and principles, with a special reference to his commitment to free, fair and credible elections in Nigeria. That is one.

Second, in the midst of all the insults being hurled at him, of all the instigation of insurgency, of all the challenges that we have, including by-elections in different parts of the country, he has recorded

With the adoption of President Goodluck Jonathan as the sole candidate of the Peoples Democratic Party (PDP) for the 2015 presidential election, ETAGHENE EDIRIN reports on the political future of another presidential hopeful, Governor Sule Lamido of Jigawa State

I

n the race to the 2015 elections, supporters of Governor Sule Lamido of Jigawa State had consistently preached that their man is the best for the job of president of the Federal Republic of Nigeria. And to this end, they had projected him to citizens. At a point, his posters with another colleague, Governor Rotimi Amaechi of Rivers State flooded some cities in the country, and the Federal Capital Territory (FCT), Abuja.

It was believed in many circles that their ambition to oust President Goodluck Jonathan from Aso Rock was responsible for the no love lost between the presidency and Amaechi, which was reported to have been a major factor in the political crisis that rocked the oilrich state last year.

It was believed that Lamido’s ambition also contributed to why some governors on the platform of the Peoples Democratic Party (PDP) left the party to form the New PDP, and later moved to the All Progressives Congress (APC), although Lamido and Niger State governor, Babangida Aliyu opted out of that move at the last minute.

As things stand now, Lamido may have been left out in the lurch with the endorsement of President Jonathan by virtually everybody, group or organ of his party.

The endorsement galore started with the PDP chapters in the geo-political zones, which endorsed the president to contest for a second term in office. When it came to the turn of the North-West, under which Jigawa falls, the leadership of the party there also fell in line, by giv-

ment.

No aspirant will challenge him in the December 6 primaries.

The National Executive Committee (NEC) has endorsed him. That mean no responsible and reasonable party member can never challenge him Metuh

tremendous achievements in transforming our economy and transforming the nation. At the Peoples Democratic Party (PDP), we are proud of him; we are proud of his achievements and we are proud of his performance in office and we believe that the party would stand behind him totally as our sole candidate for the 2015 presidential elections. That

is why we took that decision.

So by implication, no aspirant will challenge him in the December 6 primaries.

The National Executive Committee (NEC) has endorsed him. That means no responsible and reasonable party member can challenge him. It is a decision by the highest decision-making organ of the party.

So, the December 6 primaries will just be a formality?

That is the implication of the endorse-

What next for Lamido?

The endorsement of Jonathan as the party’s presidential flag bearer is wrong and we hereby disassociate the government, and the people of the state from such undemocratic act ing the president a thumb up, voicing its support for his re-election bid.

After a meeting in Kaduna recently, the PDP North West chapter announced the endorsement of President Jonathan to run for office again in 2015. The meeting had in attendance some governors of the zone, the national chairman of the party, Adamu Mu’azu, national organising secretary, Abubabkar Mustapha, its zonal chairman, Ambassador Adamu Kazaure, Maj. Gen. Mohammed Magaro (rtd) and deputy governor of Sokoto State, Mukhtar Shagari among others.

This decision did not go down well with Governor Lamido, who rejected the endorsement of President Jonathan by the North West chapter of the PDP. Speaking through his deputy, Alhaji Ahmed Mahmoud, in Dutse, Lamido said the endorsement of Jonathan by the meeting was “undemocratic and totally wrong.”

Mahmoud who absolved the members of the party and all citizens of Jigawa State from the endorsement, said: “The endorsement of Jonathan as the party’s presidential flag bearer is wrong and we hereby disassociate the government, and the people of the state (Jigawa) from such undemocratic act. We, in Jigawa, were not part of the decision taken by the PDP to endorse President Jonathan as its presidential flag bearer in 2015, and this has clearly embarrassed us as PDP members as well as people of the state.”

On the heels of that, the party’s Governors’ Forum led by Godswill Akpabio

Lamido after the NEC meeting

of Akwa Ibom State followed suit by also endorsing President Jonathan.

Expectedly, Lamido, who is believed to be nursing a presidential ambition, was absent, but yet again his deputy, was in attendance, although it was unclear if he disapproved of the decision of the governors. But unlike in the case of the endorsement made by the North-West PDP, when he later dissociated his state and people from the move, he was mute in this instance.

Then came the turn of the party’s National Executive Committee (NEC); it turned out to be a ratification of earlier meetings, and decisions by other organs of the party, which had all earlier adopted Jonathan as their sole candidate. And it was here, Lamido reportedly gave in.

Lamido, who was singled out at the NEC meeting, gave Jonathan the thumbs up sign, and did not dissent in the adoption of the president as the candidate of the party.

Governor Aliyu put the Jigawa governor on the spot, when announcing the governors’ decision; he told his audience that the decision of the governors in adopting Jonathan as the sole presidential candidate of the party was unanimous as there was no opposition.

To support his claim that there was no dissenting voice, Aliyu introduced

The emergence of PDP presidential candidates right from 1998 to 2011 has been rancorous unlike this year that it is going to be easy. What is the secret?

PDP is changing, PDP is evolving; things are moving on and our democracy is getting better. It is a pointer to the remarkable achievements by President Jonathan. The President, the Vice President have done marvellously well and we are very happy with them.

With his endorsement, do you see the opposition as major obstacles to his reelection now?

We are waiting for the opposition to come up with their candidate. We have brought out our own candidate. We want them to move from insults to showing their candidate. We want them to move from distractions and instigating violence to showing truly what they stand for by presenting their own candidate.

We believe that with the achievements of the President, whoever emerges as the candidate of the All Progressives Congress (APC) would not be able to stand on the way of the President in emerging victorious in the election.

Lamido who in turn stood up to acknowledge the statement and received a standing ovation from other members of the NEC. Given the fact that Lamido is in his second tenure as governor, the question most of his supporters must be asking now is: what next for Lamido?

Analysts are of the view that aside retiring from the political scene, and possibly going into political oblivion, Lamido still has a number of choices open to him. Having had a stint at the House of Representatives in the Second Republic, they contend that this is out of the question for him. The other option would be to join his colleagues who intend to live out their retirement years in the Senate, as his earlier ambition for the nation’s number one seat may have pitched him against the presidency which may not be too predisposed to having him occupy an appointive position. Ministerial appointment is not even an option. He served as Minister of Foreign Affairs in the Olusegun Obasanjo administration.

Another school of thought is of the position that Lamido, if determined to achieve his ambition to be president, and if convinced he can do better than the PDP flagbearer, also has an option of accepting defeat in the PDP, dumping it, and pitching his tent with another platform, to pursue his quest to be president. The next few months will reveal his plans, and ultimately his political future.

Lamido, 66, ventured into politics in 1979, when he was elected to the House of Representatives on the platform of the People’s Redemption Party (PRP).

During the transition programme of Ibrahim Babangida military regime, he was the pioneer state chairman of the Social Democratic Party (SDP) in both Kano and Jigawa. He later became National Secretary of the SDP. In 1995, he was member of the National Constitutional Conference. He later became a member of the G-18, the opposition platform of the most notable Northern politicians that opposed the succession bid of General Sani Abacha.

This led to his arrest in 1998. When he was released mid-1998, he was part of the G-34 that fought Abacha. In 1999, he contested the Jigawa State governorship as PDP candidate but lost. He was appointed minister in 1999. He became the governor in 2007.

16 POLITICS

Sanctity of Truth

Monday, September 22, 2014

Jonathan’s lone race

NANS’ endorsement raises curiosity

No doubt, the National Association of Nigerian Students (NANS) is not alien to controversies, but the latest, the endorsement of President Goodluck Jonathan for a second term attracted pulsating irk from many Nigerians, WALE ELEGBEDE writes

T

he National Association of Nigerian Students (NANS), swelled the ranks of supporters endorsing the yet-tobe announced second term bid of President Goodluck Jonathan, during a recent visit to the president and his wife, Patience, in Aso Rock.

As expected, the endorsement came in form of a recognition award. The student body conferred on the president the “Grand Commander of Nigerian Students.” A delegation of NANS led by its out-going president, Yinka Gbadebo was ushered into the Villa by Jonathan’s Senior Special Assistant on Youth Affairs, Jude Imagwe.

Interestingly, with the zonal leaders of the organisation opposing moves of endorsement for the president, the NANS team was spiced with the presence of 10 of its former presidents, eight former NANS Senate Presidents, and students’ union presidents of universities and polytechnics.

According to the Gbadebo-led team, the decision to honour the president with the award was due to the positive impact of his Transformation Agenda.

They also hinged their support for the president on innovative youth development programmes of his administration.

Less than 48-hours after the investiture, the NANS team filed out again to CO N T I N U E D F R O M PA G E 1 3

because of the excellent work which Mr. President has done, he should be the party’s sole candidate. The decision was also informed by the mature, humble and dedicated way the president has been leading Nigeria. When you add to that, the way he has been handling very sensitive national issues, the Board of Trustees is delighted, convinced and overwhelmed by the fact that we have a very impressive candidate.

“Therefore, the BoT also unanimously resolved that President Goodluck Jonathan be the sole candidate of the party in the forthcoming election.”

Aliyu’s no vacancy theory Before Jonathan’s adoption last week, Aliyu had already declared that there was no vacancy in Aso Rock for PDP members who may be interested in Jonathan’s job. He told a group of youths under the aegis of Babangida Aliyu Youth for Peace Initiative that “for the 2015 election, there is no vacancy in Aso Rock.”

“We have an incumbent in place. Usually the incumbent, no matter the performance, you will not want to remove him. I believe the PDP will want to offer him that position,” the governor noted.

Aliyu may have long abandoned his presidential ambition but Lamido still kept his own alive. He was absent at the zonal rally organised by the Transformation Ambassadors of Nigeria (TAN) for the North West, giving the impression that he would soon declare for the presidency.

The unanimous adoption of the president by the governors was surprising. This is so because out of 19

meet with the president’s wife, Patience, and this time, there was no mincing of words. The student’s body leadership hit the nail on the head during the courtesy visit to the First Lady by endorsing her husband for a second term even before the Peoples Democratic Party (PDP) Governors’ Forum thought about doing such for their leader.

While passing a vote of confidence in Jonathan, the team also presented a certificate of credence to Mrs Jonathan for her pursuit of peace and empowerment of women and youths.

According to Gbadebo, “as pragmatic and visionary Nigerians, we can see through the veil of distraction and boldly applaud the Goodluck administration for infrastructural and social transformation.

“As a united association, all students have been mandated to cast their votes for President Goodluck Jonathan to emerge victorious and continue the good works of transformation,’’ he said.

While commending the president for appointing six past NANS leaders in his administration, Gbadebo averred that NANS has floated the Nigerian Students Transformation Vanguard to champion the cause of re-electing Jonathan for a second term.

Expectedly, tongues started waggling and many poured scorn on both the award and endorsement from NANS. For many, the Gbadebo-led NANS with its action was only re-enacting the deeds of NANS under Orkuma Hembe in 2005 when the student body used the platform against the constitution by endorsing former President Olusegun Obasanjo for a third term and even went further to award him “Defender of Democracy”.

Speaking with New Telegraph, Gbadebo said the decision to honour and endorse Jonathan was a unilateral, popular among the 14-member executive of the union, saying that people shouldn’t equate NANS of 2014 with that of the 70s and 80s, adding that, “You cannot expect us fighiting government all year when

Gbadebo

we are aware that we can have a synergy and understanding with government and have our demands and agitations settled on the table of dialogue, other than going to the streets unnecessarily.

“What necessitated our endorsement of President Jonathan was that since the advent of this democracy, this is the first government that has stood with our organisation. For the first time in the history of NANS, we have over 10 of our former members in government.

This administration also gave us opportunities of representation in different ways, for instance, at the National Conference. When you look at it, this is the first government that has injected over N200 billion in one tranch into the educational system. If you look at it holistically, people should lay his achievement on the table and you will know that this man (Jonathan) has surpassed all expectations.”

However, not impressed by Gbadebo’s explanation, the apex umbrella body for northern youths, Arewa Youths Con-

Endorsement galore for Jonathan It is difficult to change a winning team. This team has done so well, that Dr. Ebele Jonathan be returned as sole candidate of PDP PDP-controlled states, 12 are from the North where there has been vociferous campaign for the region to produce the next president. The crisis that rocked the party, which led to the formation of the new PDP last year, was engineered by governors and party members from the region.

All for Jonathan The president is yet to declare his reelection bid. But like the days of Abacha, people are falling over themselves to identify with his undeclared ambition or to ‘persuade him to run’. Special Adviser to the President on Political Matters, Prof. Rufa’i Ahmed Alkali, said he identified nearly 8, 000 of such groups when his office undertook the screening and verification of various non-governmental organisations and groups asking Jonathan to declare for the 2015 presidential election.

When he took over the Goodluck Sup-

port Group (GSG), the umbrella body of pro-Jonathan groups, the Political Adviser said the Federal Government or any of its agencies has no hand in the activities of the organisations. But a few days to the unanimous adoption of Jonathan as sole candidate of the party by the PDP governors, Alkali’s office organised a national summit for all the pro-Jonathan’s groups at Eagle Square where each of the groups was represented by 10 delegates.

It was obvious from the attendance at the summit that the campaign has gone beyond the activities of non-governmental organisations (NGOs). Officials of government were determined to fasttrack the campaign to whittle down the power of anybody or group wishing to oppose Mr. President’s adoption as PDP candidate. Jonathan and his supporters were overwhelmed by signatories garnered at the zonal rallies of Transformation Ambassadors of Nigeria (TAN) which have been on progression.

Although Alkali said the Abuja summit was for pro-Jonathan groups alone, most of the speakers were government officials. For instance, the guest speaker was Governor Akpabio, Chairman of PDP Governors’ Forum. Ministers appointed by President Jonathan were given the opportunity to speak while PDP caucus in the House of Representatives, which started the sole candidacy theory for the president, was equally given an opportunity to speak at the rally. The only member of pro-Jonathan group

sultative Forum (AYCF) through its president, Yerima Shettima, said the endorsement by NANS was a sponsored arrangement, adding that the body has become a political stooge of the ruling party.

Shettima told New Telegraph that NANS has degenerated into an abysmal state owing to the marriage between desperate public office holders and greedy student union leaders, stating further that the action of the student group won’t surprise those who are vast in history of student unionism.

“This recent NANS is not what we participated and handed over. What we are seeing now are a bunch of partisan leaders who are out for pecuniary gains.

I am not surprised because they are now a political youth wing of the ruling party, they are just a political stooge.

“It becomes dangerous when the government in power buys the conscience of leaders who are supposed to be the mirror of the society. However, they should know that no matter how you buy the conscience of few compromised leaders, you can never buy the conscience of the people, and they will one day stand up to ask for accountability,” he said.

As issues continue to flow on the propriety or otherwise of NANS’ action, the questions that will continue to form discussions are: why did the leadership of NANS under Gbadebo conduct both the investiture and endorsement at the twilight of its tenure?

Was it grabbing a “piece of the action” before the regime elapses strategy?

How come some members of an important arm of the union, Joint Campus Committee (JCC) are crying wolf over the endorsement? Are there former NANS’ leaders in Jonathan’s cabinet pulling the strings for the union?

Would the new NANS’ executive tow the line of its predecessors? Has NANS really relapsed in its nomenclature of courageous ideology in the face of bad governance? who spoke at the summit was Senator Edwin Onwudiwe.

Akpabio told the summit delegates that one term was not enough for Jonathan to complete his transformation agenda. “For the transformation of Mr. President and Nigeria, one tenure is not enough for it to happen. That is why I came to assure you that I have together with you three solutions for 2015. The first solution is Dr. Goodluck Ebele Jonathan, the second solution is Dr. Ebele Jonathan and the third solution is Dr. Ebele Jonathan,” the governor added.

Hon. Pat Asadu, who spoke on behalf of members of PDP caucus in the House of Representatives, said Jonathan has “formidable support in the National Assembly to continue as president in 2015.”

The lawmaker said the House had passed a resolution calling on Jonathan to contest the 2015 presidential election.

Minister of Youth Development, Mr. Boni Haruna, who spoke on behalf of members of the Federal Executive Council (FEC) declared that “there is no vacancy in Aso Rock,” and charged members of pro-Jonathan groups to go back to their various wards to translate the support for the president to victory in 2015.

In a communique signed by the “leaders, patrons and directors” of the support groups, the delegates noted: “That President Jonathan has performed very well; that it is in the interest of Nigeria and all Nigerians that his Transformation Agenda should continue beyond 2015; that President Jonathan should step forward and contest for 2015 presidential election; that the PDP should nominate Dr. Jonathan as its presidential candidate for 2015 presidential election.”

POLITICS 17

Sanctity of Truth

Monday, September 22, 2014

Your return to the Peoples Democratic Party (PDP) has generated controversy. Is it that some people are jittery about your return?

There is nothing like people being jittery over my return to the PDP. I have been back to the PDP since January 16, 2012. Why anybody should be making noise I do not know, possibly because they think the Tiger is back; it has gone out of the cage and back to the street.

Nobody should be jittery. We are planning for the good of the party; we are the founding members. Even, people sitting down there and calling themselves officials of the party are not the foundation members of the party. Some of them were in the All Nigeria People’s Party (ANPP) when PDP was founded by us. They have never been here, but we brought them back to the party.

Mind you, it is the constitutional right of anybody to belong to any party he or she likes. So, nobody should be worried that I am back to the PDP. This should not be an issue.

I want to advise the governor of Abia State, Chief Thoedore Orji to use the resources provided through the federation account and the funds generated locally for the development of the people of Abia State. The governor should stop running from pillar to post. I am not the problem of Abia State; I cannot be a problem for the people I love.

I love the people of Abia State and they love me. The only question I am asking the governor of Abia State is to rule our people in Abia with conscience.

And his conscience is not there.

The media have been awash with reports sponsored by the Abia State Government portraying your eight year administration in the state as nothing to compare with the present government in the state. How do you see the development?

I have stated this very clearly in a television interview that I am ready to pay the bill for a financial audit of my administration and the current one, so that the public would understand what the issues are. I am ready to pay 50 per cent of the cost of such audit, why the state government will pay the remaining 50 per cent for a thorough audit to be carried out on the finances and expenditure of the state.

We can invite reputable audit firms including Ernst & Young, KPMG, Dellloite &Touché Price Water Copper House, to carry out the audit so that the truth would be straightened.

This is how a civilised society works.

Not throwing mud at people who have served their people meritoriously. This is because I do not see any reason why anybody should lie to the whole nation. It is not right. I am ready to sponsor many professional groups including the Nigerian Bar Association (NBA), Nigerian Union of Journalists (NUJ), Nigerian Guide of Editors (NGE), and others to go into Abia State to carry out investigations, serious on-the-spot assessment of what is happening there.

Abia State has become a gutter. In fact, the governor is a savage. I call him a savage because, I do not think he has conscience. If he has conscience and is worried about the future of his children, he will not be toying with the lives and property of the people of Abia State.

How do you see governance in Abia State?

I am not bothered about those in my state who are getting petty by throwing spanners into the works of the party. If we allow Abia State to remain the way it is now, PDP will not win election there.

That is the truth. Let nobody deceive you. That is the truth.

I challenge the Director General of State Security Services (SSS); I call on him to send his intelligence officials to report back to the president what is happening in Abia State.

The entire project the governor has embarked on is not up to N6 billion whereas he has collected over N1 trillion from the Federal and Allocation Accounts Committee in the last seven

Kalu: There’ll be balance of terror in 2015

Former Abia State Governor, Dr. Orji Uzor Kalu, believes that the Peoples Democratic Party (PDP) has become a strong brand that Nigerians cannot resist. But he also feels that with the strong opposition in the All Progressives Congress (APC), there will be a ‘balance of terror’ in the political space in 2015. Kalu, in this interview with reporters while on his way overseas, spoke on the pathetic state of governance in Abia State, the coming of Slok Mobile and other issues. Excerpts:

Kalu

years. We have the data of how much the state gets from federal allocation. We will provide this data at the appropriate time.

He cannot go free by toying with the lives and process of democracy.

When I was governor between 1999 and 2007, we got about N108 billion for the eight years. But the current governor in seven years has collected over N1 trillion from the federation account.

I am not the issue in Abia State. The governor thinks so. Why must you be after one man, instead of developing the state? He said I told him not to develop the state. Instead, he has proven himself wrong. He said I asked him not to eat food, he has proven himself wrong. If a pregnant woman is sick today in Abia, the governor says it is me. If anybody has headache, he says it is me. During the kidnapping saga in Abia State, he nearly wanted to implicate me. The governor asked one of the service chiefs to go and put guns in my house, so that they would arrest me; that I was the one responsible for kidnapping people.

The man told him he cannot do a thing like this. And this is a statement of fact.

So, can you see the man? Has he got conscience?

When I was handing over as governor, I told him to rule the people of Abia with his conscience.

So, I think the mediocrity should stop, proper governance should take place.

This is not how to govern a state. The

governor had excuse for everything.

The 2015 project for President Goodluck Jonathan is on course, with the collection of signatures and endorsement rallies, what are the chances for his re- election ?

Well to me, those who are even looking for the president’s job are not better than him; they are not fit to handle the task of

The governor should stop running from pillar to post. I am not the problem of Abia State; I cannot be a problem for the people I love.

I love the people of Abia State and they love me.

The only question I am asking the governor of Abia State is to rule our people in Abia with conscience. And his conscience is not there

the office. The people are not better than Jonathan. I believe also the ruling party is a strong brand. Unfortunately, some of my brothers from the South-East have been blowing hot and cold. The truth of the matter is that Igbos cannot make themselves president. Neither Ijaws nor Yorubas can become president without the support of other tribes and other Nigerians. They will need the assistance of other people in other geo-political zones to actualise their ambition.

I believe that the principle of rotation of power is good to balance the power equation in Nigeria. I strongly believe that rotation has made many zones become president of Nigeria. The same rotation should also make Igbo people president. We cannot at any time we get to the goal post to score, we count ourselves out. The Igbos must support Jonathan to be able to support ourselves in the future.

So, what is the place of zoning in PDP politics?

Zoning is essential for the presidency to go through all zones. After the tenure of Jonathan, the two zones that have not produced a president for Nigeria are South-East and North-East. We must get the rotation of the office of the president to these two zones, then we can stop it.

That is the only way to ensure equity CONTINUED ON PAGE 20

18

Sanctity of Truth

OPINION Lagos: 2015, no joker please!

Babatope Oshodi

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his piece emphasises the need for the political parties in Lagos State to only consider exceptionally competent persons with verifiable track record in both the private and public sectors for the upcoming gubernatorial election in 2015.

Lagos State is the smallest in area size out of the 36 Nigerian States but has the highest population of up to 20million.

This is partly due to the poor situation in other states. The State is the economic heartbeat of Nigeria. All the 25 national commercial banks operate from Lagos State. The state is also home to all the telephone companies. It also serves as the gateway to Nigeria being a port city and houses the busiest port in Nigeria. The limited area size and bloated population is a metaphor for the complex nature of the state, which requires exceptional competence to govern.

The Lagos slogan “The Centre of Excellence” or “Eko o Onibaje” should be taken seriously by all the political parties, in picking their respective flagbearers for the 2015 gubernatorial election. The contestants are vying to fill a big shoe as the current Governor, Babatunde Raji Fashola, is widely acknowledged to have performed excellently.

Numbers do not lie. Under Governor Fashola, Lagos has been relatively peaceful without any ethnic or religious violence. There is religious harmony. The Lagos Security Trust Fund is a concept being copied across the country to tackle insecurity. Lagos State has increased its monthly internal generated revenue from 7bn in 2007 to 22bn in 2014. In 2012, the National Bureau of Statistics and the Joint Tax Board (JTB) data showed that the IGR for the 36 states of Nigeria was N555 billion and Lagos State alone accounted for N219. billion-39%. The State demonstrates the highest degree of financial independence amongst its peers, evidenced by a

high IGR to total revenue ratio of 64%. Statutory allocation only contributed 17% of the total income of N351billion. Lagos State would have been the fifth biggest economy in sub-Sahara Africa with its $43 billion GDP, if it were a country.

On infrastructure, Lagos State is constructing a 27km Lagos Blue Line Rail Mass Transit system, which is incorporated into the 10-lane Lagos-Badagry Expressway project. The state, in collaboration with the Federal Government, is reported to have commenced the development of the Lekki Deep Seaport in Akodo, Ibeju Lekki area of the State. Also, Lagos State is in the early stage of developing the Lekki-Epe International Airport. The airport is designed to handle 5 million passengers annually with provision for future expansion.

Babatunde Fashola’s excellent performance was acknowledged by the electorate, when he was re-elected with an unprecedented 81% of the votes cast in the 2011 election.

The governor was a technocrat with little or no political experience before his election in 2007. Though, his exceptional competence was not in doubt from the onset: he became a Senior Advocate of Nigerian at a relatively young age of 41.

The Governor’s performance is often seen to be a consequence of his technocratic background.

Admittedly, it is a contradiction for anyone to run for a political office without being a politician. However, antecedents as a politician should be less important and emphasis should be placed on competence to govern and not ability to politic (or politrick) - in my opinion. This is because the line between politics and governance is very thin.

Even the Federal Government has learnt to limit political consideration in its interaction with Lagos State Government as exemplified by the various joint initiatives by the two tiers of Government. This is in contrast with its disposition before 2007, which Lagos State suffered for.

An apolitical governor, in this context, is someone whose

Monday, September 22, 2014

interest in the progress and wellbeing of Lagos State supersedes his or her personal ambition or party loyalty. The governor should accommodate his or her party’s interest as long as it does not conflict with his or her duty as an administrator.

Personal political ambition should also not take precedence over the public interest.

Undoubtedly, Lagos State would be better served by a governor that would not be distracted from his duty post by political battles for intra and inter party supremacy and control. We are all living witnesses to the distraction suffered by Asiwaju Bola Tinubu in his battle against the Federal Government under President Olusegun Obasanjo and the Afenifere elders for the political control of the southwest region. Besides, the fight for control and soul of party structures by governors is common in different states in Nigeria today. It is opined that Bola Tinubu corrected and over-compensated for the distraction by supporting his succession by an apolitical technocrat in Governor Fashola.

It is opined that a core politician governor by any of the parties would retard the progress made in Lagos State. There is still a lot to be done.

Lagos State has a large debt profile. As at 31 December, 2012, the State’s debt profile was N402billion, which represented 112% of its revenue as at then. Its ability to pay is, however, not in question as the debt to GDP ratio is 8%.

Furthermore, critics of the current government have posited that the efforts to transform the city concentrated too much on the affluent people and areas. But, the point is that fixing Lagos cannot be completed by one Governor but the pace of progress must be sustained. An expert on Urban Development, William Cobbet, was quoted in Financial Times as saying that “it will take two to three decades of progress to turn the city around”.

• Babatope Oshodi writes from Lagos.

Another 27th August has slipped by (3) Bashorun JK Randle Continued from last Friday he victims preferred to go home quietly rather than protest their innocence and insist on proper trial for whatever offences had been conjured up against them.

Two days after the coup, several newspapers carried a front page report to the effect that the new Head of State had on his first day in office instructed the Inspector-General of Police, Alhaji Muhammadu Gambo Jimeta to release from detention at Alagbon and Awolowo Road, Ikoyi those who were being held by the previous regime for serious drug offences.

Their names were listed. They quietly found their way home. Like the politicians who were released, they did not insist on proper trial for the offences they were alleged to have committed. The Buhari/Idiagbon regimehad made it patently clear that they intended to impose the death penalty for drug offences.

As for the super musician Fela Anikulapo Ransome-Kuti who was being held for currency offences, he was not released until after a month. Also, from the grapevine, it emerged that chief M.K.O. Abiola was the financial backer of the coup and had a plane waiting in Minna where Major-General was located.

If the coup had failed, the plane was ready to fly the General out of the country.

Anyway, to the best of my knowledge

T

Chief Abiola was an outstanding chartered accountant and pillar of sports not only in Nigeria but all over Africa. Chief Abiola, Chief Olu Aboderin (The founder of “The Punch” newspaper) and I - all of us chartered accountants - attended several Olympic Games and Football World Cup matches all over the world and would sit together. The rest is now history. President Ibrahim Badamasi Babangida ruled from August 27, 1985 to August 27, 1993 when he stepped aside. This is the right time to properly assess the gap-toothed general who dazzled us all when he delivered his seminal treatise at Eko Hotel Gold Medal Lecture which I convened on 1st March 1985.

It was a stunning notice to the international community and the rest of us that he was an exceptional Chief of Army Staff, the post he held under the Buhari/Idiagbon regime.

When he became President, he set up a “Kitchen Cabinet” (Management Team) headed by Chief E.A.O. Shonekan who was then Chairman of Nigeria’s largest company – UAC of Nigeria Plc. I was a member of that team along with Alhaji A.O.G. Otiti (Deputy Governor of the Central Bank) Senator (Mrs) Kofoworola Akerele-Bucknor, Navy Captain Wole Bucknor, Chief Maan Lababidi, Joe Obuseh, Brigadier Ike Nwachukwu, Chief Olusegun Oshunkeye,Brigadier Aliyu Gusau (Co - ordinator).

We were not paid for our services. Neither did we expect any reward for serving

our nation selflessly and faithfully. Nobody awarded us any oil blocks, banking licences, plots of land in Lagos or Abuja, GSM licences.

Whatever we did was for free even when we worked till the early hours of the morning. It was purely co-incidental that Chief Ernest Shonekan emerged as Babangida’s successor after the general “stepped aside” on 27th August 1993. We must encourage Dr. Patrick Dele-Cole our former Ambassador to Brazil to share with us in his inimitable lucid style that incredible occasion in 1992/1993 when General Babangida had nuetralised virtually all the leading candidates who were eager to succeed him. He offered to make amends if the twenty-three of them would agree amongst themselves on one candidate.

Dr. Dele-Cole and I were drafted as umpires and we were duly mandated to conduct the selection process amongst the likes of: Senator Olusola Saraki, Chief Olu Falae, MajorGeneral Shehu Musa Yar’Adua, Alhaji Lateef Jakande, Dr. Alex Ekwueme, Chief Solomon Lar, Alhaji Abubakar Rimi and others.

The venue was the residence of late Senator Mahmud Waziri at Roman Gardens, Louis Solomon Close, Victoria Island, Lagos. It was a disaster. Rather than vote properly, the candidates resorted to “tactical voting”. The result was inconclusive and almost chaotic.

In any case, Ambassador Patrick Dele-Cole will deliver the full story of how a unique opportunity was torpedoed. Indeed, we were at

liberty to recommend ourselves – J.K. Randle and Patrick Dele-Cole as the President and Vice-President !!

For me personally, August 27th is a powerful reminder of what would have been the consequences for a Chartered Accountant who strayed from checking the books to engaging in the steamy cauldron of resolving a national crisis. Had the coup d’etat of 27th August 1985 failed I would have been dead meat at the age of 41!! We must always thank the Almighty for his limitless mercies. Over to you, Ambassador Patrick Dele-Cole. He was a witness when General Babangida committed his government to: • Democracy • Rule of Law • Reformation by the adoption of free market economy. His closing remarks still resonate.

“Nigeria is not for the military; Or for Yoruba, Igbo, Hausa, Ijaw; Christians or moslems; rich or poor.

IT IS FOR ALL NIGERIANS. We were elated. We believed him completely and trusted him absolutely.He gave the nation hope. What went wrong and is there any reason to deny General Ibrahim Badamasi Babangida the chance to tell his own side of his military / political adventure when he seized power on his 44th birthday?

Concluded • Bashorun JK Randle is Chairman, JK Randle Professional Services.

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19

EDITORIAL

Sanctity of Truth

Monday, September 22, 2014

w w w.new telegraphonli ne.com

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

MONDAY, SEPTEMBER 22, 2014

Let there be water for the people

inister of Water Resources, Sarah Ochekpe recently shocked the world when she announced that 52.8million Nigerians (approximately a third of the population) lack access to potable water supply. And that is even because the situation is better now! For, it could have been worse, she said, had the Jonathan administration not intervened ‘vigorously’ to arrest the trend. Speaking recently in Abuja at the 2014 ministerial platform on three years of transformation in the water sector, the minister said that before the inception of this administration, access to potable water stood at 58 percent but now, it has inched up to 67 percent, a 9 per cent increase. Similarly, she enthused that sanitation moved from 32 per cent to 41 per cent in a recent national assessment by experts.

In numerical terms, this translates to a total of 4,940 water supply facilities nationwide from 2010 to date. Out of this number, 4,099 were newly constructed in the rural areas while 143 facilities were rehabilitated nationwide. The Federal Government, she further disclosed, has approved the re-organization of the River Basin Development Authorities [RBDA] as part of measures to ensure efficient service delivery and realize the mandates

of the RBDA. On the potentials of dams in Nigeria, the minister said there are some 16 dams in various parts of the country, which if well utilized, could generate up to 135.15 megawatts of electricity. She noted that the recent Water Master Plan released by the Ministry in conjunction with the Japan International Cooperation revealed that the country has a surface water of 340billion cubic meters and a ground water of 100billion cubic meter. This, according to her, was more than the previous estimates of 92billion cubic meters of ground water and 300billion of surface water.

Water supply and sanitation in Nigeria, the largest African country and the continent’s biggest oil exporter have always been problematic. They are characterized by low levels of access to an improved water source and limited access to improved sanitation. Responsibility for water supply is shared between three levels of government – federal, state and local. The federal government is in charge of water resources management; state governments have the primary responsibility for urban water supply while local governments together with communities are responsible for rural water supply.

On the other hand, the responsibility for sanitation is not clearly

defined. Water supply service quality and cost recovery are low. Water tariffs are low and many water users do not pay their bills. Service providers thus rely mostly on occasional subsidies to cover their operating costs. Investments are mainly financed by foreign donors and fall short of what is needed to achieve a significant increase in access.

Furthermore, the national policy focuses on water supply and neglects sanitation. In 2011, the government voted in the United Nations in favor of a resolution making water and sanitation a human right. However, it has not passed legislation to enshrine human rights to water and sanitation in national law. The country is not on track to reach the Millennium Development Goal for water and sanitation. It is also important to point out that in the Y2014 budget the sum of N7.7 billion was allocated to the water resources ministry.

The truth is that development of infrastructure in this key sector has become not only inevitable, but also compelling due to rapid urbanization and the quest for decent living, in addition to high population growth. As a country, we have had severe water and infrastructure crises over the years and these have resulted in avoidable deaths and debilitating illnesses.

A government that cannot

provide water for its citizens has no business to govern; indeed, it amounts to inhumanity and insincerity on the part of government not to provide the water needs of its people. However, we are outraged that one of the principal reasons for this appalling failure to provide the people with such basic necessity as water is corruption. We are aware that however much or little is statutorily allocated to the ministry and other relevant agencies to execute water supply programmes, so much of that is pilfered and, therefore, unaccounted for. How, for instance, does the ministry plan to spend the hefty N7.7b allocated to it in the 2014 budget? Whatever has happened to tariffs, low or high? Who spends the money so collected and how? Are tariffs even collected and accounted for or do they find their way into private pockets?

These are questions the relevant authorities must answer even as we urge the government to move beyond rhetoric and work to make water available to the generality of the people. For, when we solve the problem of water supply, we have also solved the major ancillary problem that comes with lack of water: diseases and all the health challenges that accompany them.

The time to act is now. So, let there be water for the people!

MANAGING DIRECTOR/EDITOR-IN-CHIEF

Eric Osagie DEPUTY MANAGING DIRECTORS

Gabriel Akinadewo Felix Oguejiofor Abugu MANAGING EDITOR

Suleiman Uba Gaya EDITOR, DAILY

Yemi Ajayi EDITOR, SATURDAY

Laurence Ani EDITOR, SUNDAY

Emeka Madunagu DEPUTY EDITORS, DAILY

Emeka Obasi Ayodele Ojo BUREAU CHIEF, BRUSSELS

Leo Cendrowicz BUREAU CHIEF, WASHINGTON DC

Marshall Comins EDITORIAL COORDINATOR, EUROPE

Sam Amsterdam NEWS EDITOR

Geoffrey Ekenna ADVERT MANAGER

Taiwo Ahmed AG. SALES/MARKETING MANAGER

Uchey Okezie HEAD, GRAPHICS

Timothy Akinleye HEAD, ADMIN.

Robinson Ezeh

20 POLITICS CO N T I N U E D F R O M PA G E 1 7

and justice. It is only when these two zones are well-represented that we can now remove zoning. I can see some of my brothers saying zoning is no longer necessary because they belong to a different political party. That is not true, it is only in their party.

In our party, the PDP zoning is an essential ingredient for the democratic process and growth of our party to stabilise the system and institutions.

Sanctity of Truth

Monday, September 22, 2014

What I told Gov Orji, by Kalu

Won’t the crisis among the PDP stakeholders in Abia affect the chances of the party in 2015?

Not at all. Abia State remains one of the backbone states of the PDP. That is why the president is very lucky man, he stands by me and Orji. All of us are in PDP. The president is standing on two sides of the Atlantic. People will listen to us. Whatever the governor of Abia State cannot bring on the table for the president I would bring. That is why democracy is very good. It is going to be a win-win situation for the president. That is why the PDP umbrella is very strong, it can cover many people under it.

Do you support zoning in the choice of Abia governorship for the 2015 election?

Looking at it from the point of morality, the next governor of the state should come from old Aba zone. This is because you cannot tell any Ngwa man that because of zoning you will exclude him. It is not possible. Isiala Ngwa Local Government both north and south is the head of Ngwa, you cannot exclude them in gubernatorial race.

I am not saying that anybody from Abia North or the governor’s village cannot run. But, does such a candidate have the morality to win the election? That is the issue. It is a matter of morality. That is where it stands. So, morally the old Aba zone stands the chances of winning the election, unless they miss the goal post, if they cannot score the goal. That does not mean that people from my area, Abia North cannot run, if they want to run.

I cannot tell my own people not to run.

How is the campaign for Jonathan’s reelection?

Now, that we are fully back in the party, we would work for Jonathan. I do not want to discuss governors of the South-East. But, I can assure you that the South-East would mobilise for Jonathan. We would make Jonathan work for the South-East. He is going to work for the people of the South-East. That is the game plan. Jonathan would do things that impact on the people of South-East.

But, the unfortunate thing is that the Imo State Governor, Rochas Okorocha, is in the wrong party at the wrong time. I do not want to discuss Governor Okorocha, and I am very sincere about this. I can assure you that PDP will win landslide in Imo State. We will be in the forefront of that campaign. Okorocha made a mistake, he could have stayed back in his party and that would have brightened his chances of re-election.

Where he is now, the All Progressives Congress (APC) will be zero per cent.

Okorocha is in the wrong party at the wrong time.

There have been speculations about your political future. In 2015, what are you up to?

I want stability of the country, which is good for business. As a stakeholder in the Nigerian project, stability is very important. Stability is the best thing in any democracy. Don’t forget, I run a business with a very large balance sheet and stability of the country is good for business. If I run a business with a very large balance sheet, I need stability to push the business to the next level. I need stability to further the growth of my company, the Slok Group.

I have just returned to active business in the last six years, and from the time I came back to the business, I have moved the company out of Africa.

I have moved the business from about

Kalu

The governor asked one of the service chiefs to go and put guns in my house, so that they would arrest me that I was the one responsible for kidnapping people. The man told him I cannot do a thing like this. And this is a statement of fact.

So, can you see the man?

Has he got conscience? $2.4 billion to about $3.6 billion in balance sheet. That is in the last few years.

I want to move it further to grow the balance sheet from the current figures.

I want to grow the business by at least 10 per cent in the next few years. If there is stability the balance sheet will grow.

I have the constitutional right to seek any office, I do not believe in my people call me. I will consult my God and all the stakeholders before I take a position that would be made public.

By the time the party starts its primaries, I will make my position known.

I am bold enough to run for any office.

What is your take on the security challenges facing Nigeria?

I have told stakeholders that we all need to rally round the government to maintain national stability, otherwise Jonathan might be the last president of Nigeria. If the stakeholders do not come out to help Jonathan, there may be problem.

Jonathan is not the owner of this country. The highest time he could stay in office is another four years, terminating in 2019. He will go, just like former presidents Shehu Shagari, Yakubu Gowon, Olusegun Obasanjo, and Ibrahim Babangida. They all came and went.

I have a stake in the Nigerian economy. As businessmen, the lives of many people are in our hands, so we will pursue peace and national stability. We

have more stake in Nigeria than political leaders. So, we will not allow that to happen. Instability is not good for us, it is not good for the nation; its economy and politics. It is not good for the system.

Many European countries are coming together, why can’t we build a United Nigeria. Why do we need to disintegrate, why do we want problem for Nigeria?

We need peace. I want to tell you, thorough negotiation is going on in Chad, because of the insurgency of Boko Haram.

The negotiation is between a delegation of private sector players with the government of Chad. The whole idea is to forge a common front to deal with the challenge of insecurity and Boko Haram. We do not want insurgency. It must go. That is why people who are blaming President Jonathan on his relationship with the former Borno State Governor, Senator Ali Modu Sheriff are naive. The president of Nigeria has a right to travel with anybody he desires. Even if that person is in prison, the president can take the person out of prison, if the purpose is for a good cause.

People should talk about Nigeria and not Jonathan. It is not Jonathan’s country but our country. It is just the naivety of Nigerians that is taking the system backward. Nigerians do not even know what their rights are.

The president can carry anybody in his aircraft. Whether he travelled with Sheriff or not is for the good of the country. That is the most important thing.

Sheriff has not been jailed by any court of competent jurisdiction. He has not even being tried. So, I want to appeal to Nigerians to be patient. Patience is the answer to the problem.

The PDP is growing strong against expectations that the opposition would soon overrun it. What is the secret?

We just have in PDP a strong national chairman. His brand is very strong.

He has been calling everybody. He has been visiting politicians in their homes, reaching out to different people. Even, the former national chairman Bamanga Tukur did many things to bring the party together. But, there is advantage in the young age of Adamu Muazu. He is free with people, bringing people together into the PDP family.

He is a game changer, and will continue to change the game. Nobody should

be afraid of the new national executive of the PDP. Mind you, if the party is a company, I should own 90 per cent of the shares. We brought the initial money to test-run the party.

Unfortunately, we forget that some of us have made sacrifice in this party, and democracy. Some of us have made sacrifice for this country. I lost an entire business, I lost a bank, where I owned 70 per cent, I mean Hallmark Bank. I lost my operating licence in Slok Airlines to the democratic struggle. One aircraft committed an offence in Enugu, and the entire 14 aircraft fleet was grounded.

Let us presume the pilot committed an offence, that was not enough for the government to ground the airline. It was political witch-hunting, people tried to cut my head off, but my head still stands.

Even, people who want to take over power from PDP are not better. It is the same thing. They are not going to do anything better than PDP. The PDP is bouncing back strong. I see the mechanism of PDP to come back very soon. What we need to do is to strengthen our laws.

The only problem is that we have weak institutions. We need to strengthen the institutions that guide democracy. This is important because the institutions that guide democracy are all weak. The police, Independent National Electoral Commission (INEC), the judiciary, the state security services, they are all very weak. And when you have a weak process, you cannot have anything strong.

Let us go back to one man one vote.

Any how you do it, whether one man one vote or otherwise PDP will win. This is because the brand is very strong.

But, this is the very first time in Nigerian political system, where there is going to be balance of terror. PDP should not think it would be easy and rosy. This is the first time that other parties will have money to pay all their party agents because APC can afford it now. For the first time there is balance of terror.

And the PDP is aware of this. Because of what is going on in the party, the national chairman has set up zonal integration committees to reconcile all aggrieved members. So, when I see some political touts dictating that they want this man or not into the party, I laugh and see them as fools. The essence of political parties is human beings. The major ingredient of political parties is human beings. A political party is a gathering of everybody. I believe our democracy should take a firm root. I am not saying PDP must win elections, if we do not merit to win, we will lose. We need to work hard, because the day is coming when political leaders will give account of their stewardship to the people.

You are always out of Nigeria for business trips. How soon should we expect the dividends?

Very soon, the Slok Group is rolling out the first ever indigenously made mobile phone called Slok Mobile. It is phone we have produced to be sold in Nigeria and across Africa. I am rolling out the Slok Telephone in less than eight weeks’ time.

We will have the highest end of the mobile phone market. The Slok Telephone has all the packages of a modern phone, it is going to be a utility phone that Nigerians have been looking for.

We are a truly an African company, but proudly Nigerian.

So, this is what is coming on board in the next nine weeks. The phones will be on the streets of Nigeria. We are going to roll out the phones in the Nigeria, Congo, Guinea, South Africa and other African markets. The phone had patent right in the United States and other countries as well as Europe.

This is the first time a Nigerian conglomerate will be rolling out a phone to take over the market.

INVESTIGATION MONDAY, SEPTEMBER 22, 2014

21 NEW TELEGRAPH

www.newtelegraphonline.com/investigation

ISIOMA MADIKE EDITOR, INVESTIGATION

isioma.madike@newtelegraphonline.com isiomamadike69@gmail.com

Fraudsters in banking halls The banking sector reform over a decade ago was supposed to be a cleansing act for the industry. But, as ISIOMA MADIKE found out in this report, customers have continued to be defrauded by insider fraudsters using all manner of subterfuges

A

brazen form of scam in the banks where employees are having a field day perpetrating various fraudulent acts appears to have continued despite the supposed cleansing of the industry about a decade ago. This, however, is largely attributed to what financial experts have described as weak internal control mechanisms in most of the banks in the country.

This ugly display was, however, ripped open a few days ago when the Economic and Financial Crimes Commission (EFCC) declared a young IT worker in an unnamed bank, Godswill Oyegwa Uyoyou, wanted for his alleged role in co-ordinating a £25 million ($40 million) cyber-theft at a bank in Abuja where he worked.

The EFCC claimed that Uyoyou helped conspirators dressed as maintenance staff get into the bank so they could use computers to transfer cash. Local reports suggest the theft was spotted when stolen cash was withdrawn.

A spokesman for the anti-graft agency, Wilson Uwujaren, said no member of the gang has been caught, but that many of them are being “tracked”. Though, details of the robbery are scant, it is thought that Uyoyou and conspirators entered the bank on a Saturday when it was closed and no other staff were working.

“The IT staffer was key to the robbery because of the access he enjoyed to the computer systems at the bank. This was used to siphon 6.28 billion Nigerian Naira into accounts of the conspirators,” said the EFCC. Reacting to the theft, John Hawes, a computer security researcher at Sophos, said the amount of cash stolen was “unusually large” but the method the gang chose was “all too common”. According to him, “Insider risk is a major problem for banks,” he wrote on the firm’s security blog,” adding, “they still have to rely on trusted employees to behave themselves, resist temptation and keep their hands off the huge amounts of funds they may find themselves dealing with every day.”

Incidentally, Uyoyou is not an isolated case. The commission only recently arrested two staff of a new generation bank, Rowland Alozie and Segun Osho together with their alleged accomplice, Abass Kolawole. The three allegedly conspired and fraudulently converted Rivers State Board of Internal Revenue’s cheque for N9, 554,286 into their account.

A typical banking hall, ATM, Western Union points and bales of money

Alozie and Osho, both staff of the Moscow Road, Port Harcourt branch of the bank, were said to have colluded to convert an Ecobank Manager’s Cheque (MC) belonging to Rockson Engineering and issued as tax payment to the Rivers State Board of Internal Revenue. The bubble, however, bust when Kolawole was arrested as he allegedly approached a branch of Ecobank in Lagos to cash the MC through his account. Sources at EFCC confirmed that the suspects would be charged to court as soon as investigation is concluded.

Aside the Ecobank MC theft, there is another, which the operatives of EFCC have been battling to unravel for some time now. The commission, according to sources, started grilling another new generation bank staff with head office in Lagos in August over alleged stealing of money from customer’s accounts.

In a letter written to the bank by Citi

Lawyers, solicitors of a company identified as West and Gate (W&G) Limited, they demanded a refund of the sum of N150 million to their clients. According to the letter, the said sum was illegally deducted by the bank’s officials from monies paid by a telecommunication company to their client.

The drama between the bank and West and Gate began when the financial institution lost an unsecured loan of N6 billion to Allan Dick West Africa (ADWA) Limited, a telecommunications services firm promoted by Allan Dick Company (ADC), its parent company in United Kingdom in 2007. Having obtained the loan then, ADWA commenced liquidation without repaying it. However, rather than going after their lost money, the bank allegedly took a lion share from N850 million paid to the local contractors of ADWA. Shortly before this, a former branch manager of the bank, Victor Amushie,

had been arrested by the anti-graft commission for a credit fraud in the sum of N81, 024, 749.28. The suspect allegedly packaged loan facilities for himself, using several names and accounts of some customers of his bank, with whom he shared the proceeds. The loans went bad and the bank had to hold Amushie, who was on the verge of running out of the country before being apprehended by operatives of the EFCC. However, details of the loan disbursement showed that he granted a total sum of N57, 979, 024. 07 to Onezh Oil and Gas Limited, N11, 317, 562.73 to Esubeb Staff Multipurpose Cooperative and N11, 728, 162. 48 to Ogochukwu Amanda respectively. Amushie, according to impeccable sources at the bank, is still in the custody of the EFCC and will be charged to court as soon as investigation in his case is conCO NTINUED O N PAGE 22

22 INVESTIGATION

Sanctity of Truth

Monday, September 22, 2014

…also operate on money transfer products

Lamorde

CBN Governor, Godwin Emefiele

IGP, Suleiman Abba

Sanusi

Soludo

CONTINUED FR O M PAGE 21

cluded.

The thieves conceal act by fabricating accounting entries There has also been arrest of two other bankers for allegedly stealing the sum of N661, 000,000 from their employers. The two suspected fraudsters, Samuel Obende and Rabiu Dawaki were Branch Manager and Head of Operations respectively at the Bello Road Cash Center of Union Bank Plc in Kano.

They were said to have been responsible for the evacuation and supply of cash to about 17 branches of the bank in Kano, Katsina, Kaduna, and Jigawa States before they abused their positions in the theft. According to Uwujaren, the thieves tried to conceal the illegal act by fabricating accounting entries, which deceitfully showed that the monies were sent to the respective branches.

But, these are not all. Three other employees of yet, another new generation bank with head office at Ajose Adeogun Street, Victoria Island, Lagos, were reportedly caught by the Special AntiRobbery Squad (SARS), Ikeja, for their alleged involvement in a $2 million scam.

A senior official of the bank, who did not want his name in print, said that the fraudsters were in the habit of defrauding unsuspecting customers.

“The woman and her accomplices were in the habit of informing wealthy customers, who wanted to buy dollars that there was a dollar account in the bank

Operations department of a bank

that they could purchase them from. She would make the account details available to the customer. Unknown to the victim, the dollar account is owned by another customer of the bank.

“The victim would then ask his own contact in the bank to check the account.

Once it has been confirmed that the account, indeed, has a certain amount of dollars, the victim would then transfer the naira equivalent of what he wanted to buy to the woman in exchange for the dollars,” the source, added.

The woman was said to have defrauded several persons in that manner until a complaint was lodged at SARS. The report further alleged that she was on her way to the United States of America the

day she was arrested. The affected bank’s spokesman, admitted the scam when contacted, but said, “We actually detected the fraud first. We subsequently made a report to the Special Fraud Unit before they initiated an investigation. Some of our employees were arrested and quizzed in connection with the case.”

Many years before now, EFCC had blew the lid open in another bizarre fraud, in which many bank customers were exposed, especially those of the money transfer products. Jokotola Akinmoyade and Onyinyechi Ehme, two female staff of a first generation bank were among those arrested by the commission for their nefarious operations in defrauding legitimate owners of transferred money

from abroad.

Akinmoyade was the Western Union Money Transfer officer with the bank’s branch along Oshodi-Apapa Expressway in Lagos. Her job entailed remitting money ferried through the Western Union to their legitimate owners. But, by a combination of fraudulent networking and ingenuous alliance with more than 86 dupes outside the bank, Akinmoyade was able to scoop heavy gains from her jobs.

But, it was sunset for her trade when EFCC operatives visited her branch. In a mafia-like style, they headed straight for the desk but before they got there, word had reached her that the detectives were around. She moved swiftly to tidy up her desk. And in the smartness, she grabbed a polythene bag, which the operatives later found to contain her instruments of operation, and threw it to Ehme, a cashier in the same office.

As Ehme moved to put away the bag, the EFCC men, who had already taken strategic position in the bank, intercepted the bag and arrested him and Akinmoyade.

Their arrest threw the bank into pandemonium.

In that operation, the EFCC recovered about 28 international passports, five national identity cards and 43 drivers’ licences found in her possession. She was said to have used them in connivance with a circle of their fictitious owners to pick any money transferred to her bank by posing as the real owners of the money.

CO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, September 22, 2014

23

‘N159bn stolen between 2010 and now via e-fraud'

Obende and Dawaki

Alozie and Osho

CONTINUED FR O M PAGE 22

“Having worked for the bank for 21 years, she must have considered herself sufficiently experienced to stave off such humiliation, which her arrest brought to her,” said an EFCC source.

Just as in this case, the commission has continued to receive a deluge of petitions from the public over undelivered money sent through various money transfer products. A senior official of the commission, who craved anonymity, told this reporter that the money transfer scam is still flourishing because Nigeria is a big market for remittances from abroad. He also disclosed that the EFCC has, in recent times, taken steps with the support of the operatives of the products, to reduce incidence of money transfer scams.

Dummy postings of monies into different accounts rampant While mouths were still agape over what happened at the first generation bank, Michael Ezeali, an official of another new generation bank got into the hook of the anti-graft agency over a case of fraudulent transactions amounting to N113.15 million. Until his arrest, Ezeali was the head of clearing at the Abuja regional office of the bank, in which capacity he represented the bank at the Central Bank of Nigeria (CBN)-supervised clearing house.

But, he had his plans.

According to EFCC, Ezeali carried out dummy postings of monies into different accounts. He was also said to be aided by one of his colleagues in the bank, Chika Okonkwo; they both had dubious habit of tricking some of the lawful account owners into disclosing their numbers with which their monies were posted. He, however, met his waterloo in one of those fictitious postings as he could not perfect one of his acts in his computer.

“The server was also improperly shut down by me without allowing it finishing the end of the day processing before I forcefully put off the Uninterrupted Power Supply (UPS),” he confessed to the EFCC. Yet, that appeared to be the beginning of fraud in the banking halls.

A former banker with a first generation bank, Oreoluwa Adesakin, was on Wednesday, June 25, arraigned before Justice O.M Olagunju of an Oyo State High Court sitting in Ibadan, on a 15-count

EFCC officials

charge bordering on stealing by fraudulent conversion. This was contrary to Section 390 (8) (C) Cap 38 of the Criminal Code, Laws of Oyo State, 2000.

The accused person, who was in charge of Western Union Money Transfer at the bank, allegedly used her office to convert a total sum of $368,203.00 for her personal use. She allegedly perpetrated the fraud, by using her position and office to raise vouchers for payment of money in excess of what was meant for customers of the bank. Investigations showed that, Adesakin used the money to acquire landed properties in Ibadan and to float a company: Empathy Trade and Investment Company, Limited.

In like manner, Justice Dije Abdu Aboki of the Kano State High Court, had, on June 5, convicted and sentenced Bright Evobai and Okechukwu Okolo to 43 years imprisonment for offences bordering on obtaining by false pretence and forgery.

The two were arraigned by the operatives of EFCC on November 27, 2012 on an eight count charge.

The convicts were former employees of a new generation bank. They had conspired and defrauded the bank to the tune of N9, 700, 000. They allegedly used stolen letterhead paper belonging to Aminu Kano Teaching Hospital, Kano and forged the signatures of four designated signatories including one of their superiors at the bank, to siphon fund from the hospital’s

fixed deposit account. They, thereafter, distributed the proceeds of their crime into five different accounts within the branch in an attempt to cover their track.

There were several other cases of forgery that have been investigated by the commission over the years too. One of such concerns dividend warrants. Some dubious shareholders were found to be in the habit of altering figures on their dividend warrants in connivance with some equally dubious bank officials.

Still, these are mere reflections of what happens in the sector today. In August, four bankers: Mansur Danlami, Ejiro Eborikpo, Nina Stephen and Samson Nwodo were arrested by operatives of EFCC for conspiring to steal the sum of N5, 100, 000 from a customer’s account. The suspects, all staff of Zoo Road Branch of another first generation bank, allegedly conspired among themselves to issue the Automated Teller Machine (ATM) card to an impostor, in the name of Samuel Omede, a bona fide customer of the Bank in Bayelsa State. The suspects, according to sources, are still being interrogated in the Kano Zonal office of the EFCC and will be charged to court as soon as investigation is concluded.

The e-fraud has also become a worry to many in recent times. Available statistics show that Nigerian banks have lost whooping sums since the cashless economy a few years back. For instance, banks

are said to have lost about N159 billion to this form of scam, according to reports quoting research data on e-fraud in Nigeria by the Financial Institutions Training Centre (FITC).

With this gloomy picture from the financial institutions, Executive Director, Business Development, Nigerian Inter-bank Settlements Systems (NIBSS) Plc, Mrs. Christabel Onyejekwe, said the staggering figure could dent customer’s confidence in the adoption of Nigeria’s cashless strategies. She, nonetheless, stressed that increased efforts is being mounted to checkmate the menace.

A breakdown of the annual e-fraud trend in the banking industry since 2000 till date was given as N1.65 billion in 2000, N3.12 billion in 2001, N8.20 billion in 2002, but declined to N5.13 billion in 2003 while in 2004, the figure moved up to N89.43 billion. The figure had declined in 2005 and 2006 to N6.76 billion and N2.74 billion respectively while in 2007, the figure spiraled to N8.51 billion. 2008, according to her, marked a watershed in the trend of e-fraud, as Nigerian banks recorded the highest losses to the tune of N34.50 billion.

However, the successful switch from magnetic stripe to ATM cards in 2009 to a more secure Chip and PIN cards led to a drastic reduction in e-fraud to the tune of N21.72 billion with a further decline to CONTINUED ON PAGE 24

24 INVESTIGATION

Sanctity of Truth

Monday, September 22, 2014

Card cloning, skimming, rampant at ATMs

Kolawole

Amushie

Okolo

Uyoyou

CONTINUED FR O M PAGE 23

N14.96 billion in 2010. In 2011, the figure increased again to N24.43 billion, but declined yet again to N10.06 billion at the end of 2012 while, in first quarter of 2013 alone, cases of bank e-frauds were valued at N7.5 billion.

“All these figures listed from 2000 till the first quarter of 2013 amount to approximately N159 billion losses in the system while extrapolated expected fraud at the end of the year would be N7.5 billion multiplied by four and this will be N30 billion.

The fraud cases come in various types, which include card not presented, card skimming, physical attacks on ATMs, card trapping and others,” she said.

EFCC, Banks collaborating to minimize financial crimes A source at GTBank, who craved anonymity, confirmed to this reporter that fraud occurs in all spheres of banking dealings. She mentioned cheque, deposit account, ATMs as well as loan frauds as being rampant in the industry at present.

She pointed at incompetence, negligence, connivance and ignorance on the path of bank staff or their customers as being responsible for this sustained development.

“Situational pressures and permissive attitudes of the society are sometimes contributing factors to this as well,” the source added.

She, however, said banks across the country are not relenting in finding pragmatic ways and means to combating the menace. In this light, GTBank, according to her, has, therefore, continued to develop measures to protect itself and its customers against different means of being defrauded.

“The Bank recently deployed security software on its Internet Banking platform called Trusteer Rapport. The software blocks malicious attempts on customers’ accounts from both internal and external fraudsters by securing online communications with the bank’s website and internet banking portal.

“The software can be used as an additional layer of security to any anti-virus or security software already used by its customers. A few years ago, the Bank also installed a whistle blower platform to help mitigate instances of fraud whilst resolving customer service-related issues. The channel enables customers, staff and other stakeholders of the bank

Evobai

Suspect on handcuffs

to report unethical or unprofessional conduct by its employees without revealing the complainant’s identity. The GTBank Whistle Blower is a very secure platform that is hosted on the bank’s website for easy access,” she said.

She did not stop there, but said, “the Bank remains ardently committed to proper practices and preventive mechanisms that safeguard the properties of its stakeholders. Sensitisation emails are sent out to customers regularly; educating them about the different forms of scams and ways they can be combatted.

The Bank intends to continue strengthening its security processes at all touch points, whilst promoting its value system, which, is hinged on international best practice, professionalism, ethics, integrity and superior customer service.”

The rampant theft of customers’ money by fraudulent bank officials in recent times, may have informed the EFCC and banks’ current collaboration towards minimising financial crimes. The commission is said to have pledged to deepen its cooperation with the Committee of Chief Compliance Officers (CCO) of commercial banks to eliminate financial scam. The collaboration was the fallout of a recent meeting between the two bodies in Lagos at which they stressed the need for mutual trust and respect in sanitising the nation’s financial sector.

The EFCC Chairman, Ibrahim Lamorde, said that banks were not targets of investigations, but the criminals, who use bank platforms to commit crime or launder proceeds of crime. “Unfortunately, some banks, perhaps, as a result of nascent pressure to post profits, shelter criminal elements to the detriment of the

law,” he said.

According to Lamorde, Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) remain a partnership between law enforcement and regulators on one side and reporting entities on the other side. The EFCC chairman also urged banks to support law enforcement agents, adding that there was need to further expose law enforcement officers to the dynamics of AML/CFT. “It is not expected that the bank should play the role of a law enforcement officer, but at the same time, the bank must discharge all the AML/CFT reporting obligations required by law. Once a bank does that, it has done everything required of it by law. Build capacity within your staff and appreciate that the collateral damage of non- compliance will make nonsense of any profit,” Lamorde further said.

Chairman of the committee, Pattison Boleigha, who, incidentally, is the CCO of Access Bank, said that the committee was established in June 2007 with EFCC to ensure that banks operated on the same platform. He commended the proactive character of Lamorde and expressed determination to co-operate with the AML/ CFT compliance, while promising to support the war against financial crimes in the county.

The flourishing fraudulent acts by those entrusted with customers monies though, may have informed, to a large extent, the reforms in the sector over a decade ago. Little wonder, the early days of the restructuring were characterised by apprehension.

Chukwuma Soludo, then governor of the CBN though, gave an outlook of what the landscape of banking would be after

the reform. He said it would be “a place where depositors can keep their money and go to sleep.” More spectacular was the fact that he did so with a very high level of threat to the banks, especially those that was found to have a penchant for fraud.

To the consternation of many, Soludo warned, with a note of finality, that the CBN was going into a regime of zero tolerance for misdemeanor. And for once, many believed that the days of cowboy bankers were numbered. The warning reverberated several times over, leaving the impression that it was requiem for the culture of sleaze in the banking sector.

Though, for some fraudsters in the banking halls, it appears to be morning yet on creation day. Sanusi Lamido Sanusi, who took over from Soludo, in his own revolutionary banking sector reforms, reechoed Soludo’s promise that the banks would safeguard customers’ deposit.

But, rather than turn a new leaf, the beat goes on, particularly, through unauthorised charges on various forms of transactions. How this trend has permeated the industry and their negative impact has remained a major concern to stakeholders.

In recent times, some of the consolidated banks have declared huge results, indicating a boom in the money market.

Nevertheless, an estimated 35 per cent of the profits being declared by some banks is said to be coming from this dubious source.

However, while some banks could be doing this to make their books appear impressive, a cartel of their employers has continued to dupe innocent customers almost undictated.

BUSINESS Sanctity of Truth

Monday, September 22, 2014

Monday, September 22, 2014

What's news Telcos flout 10% traffic diversion directive Global System for Mobile Communications (GSM) operators in Nigeria are allegedly flouting a directive asking them to divert 10 per cent of their voice and Short Messaging (SMS) traffic to any of interconnect exchanges carriers (IXCs) in the country.

}p-26

Importers flay cargo diversion to off dock terminals

Why foreign airlines 25are BUSINESS | BRANDS & ADVERTISING scared to partner with

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ayodele aminu, Deputy Editor, business

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Glo unseats Airtel as second biggest operator MARKET SHARE Glo now has 21 per cent, MTN 44 per cent, Airtel 20 per cent, while Etisalat has 15 per cent

•MTN maintains lead Kunle Azeez

N

igeria’s indigenous telecoms operator, Globacom, is back as the second largest telecoms operator in

ing in Lagos.

He used the unfortunate incident to remind Nigerians of the need to insure their risks against unforeseen disasters.

He said: “Insurance of public buildings is compulsory in Nigeria as defined in Section 65 of the Insurance Act 2003 except places of worship. However, mosque and church leaders should consider insurance of their buildings to mitigate risks in the interest of innocent third parties.”

Under the Compulsory Insurance Act, owners or contractors of buildings under construction (more than two floors), must

tained from the regulator, the Nigerian Communications Commission (NCC)’s website at the weekend, Globacom now has the second largest number of telephone users after MTN Nigeria, the undisputed leader in the market.

Network subscriber information as at the end of June, as released by the telecoms umpire, showed that Glo gained 2.8 million new customers between February and June this year.

Airtel had, in March this year, displaced Glo from second position, when the former’s mobile subscriptions hit 25.5 million, compared to Glo’s 23.4 million.

The competition between Glo and Airtel became keener last December, when Globacom had 25.9 million mobile subscriptions on its network and Airtel, which had 24.8 million, became determined to overtake Globacom.

However, Airtel’s scrambling for second position came to fruition in March, this year, as Glo lost its second position to Airtel to take third place.

According to the latest NCC data, Glo had 27.3 subscribers on its network as at the end of June, 2014.

The figure translates to 21 per cent share of the Nigerian telecoms market and places Glo second to MTN, which has 56.5 million.

Airtel, which briefly occupied the second position early this year, fell to the third, with 25.3 million subscribers and 20 per cent market share.

Etisalat retained the fourth position with 19.33 million customers, which represent 15 per cent share of the market.

It was learnt that while Glo and Etisalat made gains between the last time NCC released subscriber figures in February, and now, MTN and Airtel recorded losses.

Figures for the operators as at the end of February were 57.1 million for MTN, 26.1 millon for Airtel, 24.4 million for Glo and 18.1 million for Etisalat.

CONTINUED ON PAGE 31

CONTINUED ON PAGE 26

the country, having overtaken Airtel Nigeria, which had been enjoying the second place status since March, New Telegraph has learnt.

According to the data ob-

Nigerian importers have condemned the extra cost they are compelled to bear for diversion of their consignments to private off dock terminal located in some parts of Lagos State.

}p-26

Two vessels berth with N2.06bn palm oil Two vessels have berthed with 18,000 metric tons of palm oil valued at N2.06 billion ($12,905,000) at the Lagos Port Complex in Apapa.

A ton of the commodity is sold at $645.25 in the global market.

}p-31

NCAA issues 8,874 licenses to Nigerian, foreign pilots The Nigerian Civil Aviation Authority (NCAA) has issued a total of 8,874 licences to both foreign and local aircraft pilots in the last 14 years.

Director-General of the regulatory authority, Benedict Adeyileka, disclosed this in a paper he presented at a seminar in Lagos at the weekend.

}p-31

BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) Simeon Ogoegbulem, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) Godson ikoro , Asst. Editor (Money Market) DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor WOLE SHADARE, Aviation Editor

L-R: National Treasurer of the Chartered Institute of Bankers of Nigeria (CIBN), Mr Bayo Olugbemi; CIBN President/ Chairman of Council, Otunba (Mrs) Debola Osibogun; Managing Director/CEO, Enterprise Bank Limited, Mr Ahmed Kuru; Executive Director, Enterprise Bank, Mrs Louisa Olaloku; First Vice President, CIBN, Dr. Uche Olowu, and Ag. Registrar/CE, CIBN, Mr Seye Awojobi, when Enterprise Bank CEO presented a signed copy of the Banking Code of Conduct form to CIBN in Lagos at the weekend.

Synagogue: Disaster reaffirms calls for risks transfer, says NAICOM RISK MITIGATION Mosque and church leaders should consider insurance of their buildings to mitigate risks in the interest of innocent third parties Sunday Ojeme

T

he collapse of a multi-storey building owned by the Synagogue Church of All Nations has reaffirmed calls by the National Insurance Commission (NAICOM) for

CHRIS UGWU, Capital Market Editor Abdulwahab Isa, Finance Editor KUNLE AZEEZ, Senior Correspondent Chuks Onuanyin, Energy Nnamdi Amadi, Reporter JOHNSON ADEBAYO, Asst. Production Editor

Nigerian carriers –Legre }p-42-43

owners of public buildings and buildings under construction to purchase insurance cover for such structures.

In a chat with New Telegraph, Commissioner for Insurance, Mr Fola Daniel, lamented the failure of many Nigerians to embrace the benefits embedded in the Compulsory Insurance Act, which makes it mandatory for such property to be covered and victims of incidents adequately compensated.

Daniel who spoke through the Assistant Director/Head, Media and Communication, NAICOM, Mr Rasaq Salami, however, sympathised with families of victims of the collapsed synagogue church build-

Rates Dashboard INFLATION RATE August 2014............................8.5% July 2014.................................8.3% May 2014.................................8.2%

LENDING RATE

EXCHANGE RATE

(Parallel As at Sept 19)

USD . . . . . . . . . . . . . . . . . . N169.50 InterBank Rate . . . . . . . . . . 11.57% Pounds . . . . . . . . . . . . . . . . . . . N277 Prime Lending Rate. . . . . 16.93% Euro . . . . . . . . . . . . . . . . . . . . . N220 Maximum Lending Rate..25.83% • Foreign Reserves – $39.59bn as at 18/09/2014

EXCHANGE RATE

(Official As at Sept 19)

USD . . . . . . . . . . . . . . . . . . . N156.75 Pounds . . . . . . . . . . . . . . . N255.60 Euro . . . . . . . . . . . . . . . . . . N201.26 Source: CBN

26 business | NEWS DECONGESTION The motive is to decongest traffic, increase competition and ensure improved service quality Kunle Azeez

G

lobal System for Mobile Communication (GSM) operators in Nigeria are allegedly flouting a directive asking them to divert 10 per cent of their voice and Short Messaging (SMS) traffic to any of interconnect exchanges carriers (IXCs) in the country.

It was gathered that the telecoms regulator, Nigerian Communications Commission (NCC), had licensed eight IXCs to operate as carrier-neutral interconnectivity companies to manage inter-carrier traffic.

The licensed IXCs include Medallion Communications Limited, Interconnect Clearing House Limited, Breeze Micro Limited, Exchange Telecoms Limited, Solid Interconnectivity Services Limited, Niconnx Communications Limited, Telexchange Services Limited and Integrated Wireless Technologies Nigeria Limited.

However, New Telegraph gathered that most of the GSM operators were far below 10 per cent of their total traffic to the licensed IXCs. “Only about five per cent of the telecoms networks are with the licensed interconnect exchange companies. In fact, some of the exchanges are not operating functionally because reasonable traffic is not yet given to them to manage,” said managing director of one of the IXCs, who did not want his name mentioned.

He lamented that the attitude of the GSM firms “violates the regulatory requirement of the regulator where the four leading mobile operators in Nigeria are required to divert 10 per cent of their inter-carrier voice and SMS traffic to one of the interconnect exchanges.”

The objective of licensing the IXCs by the regulator, it was learnt, is to decongest the traffic on the mobile network, increase competition and ensuring improved quality of service to subscribers.

The exchange firms also function as independent com-

Telcos flout 10% traffic diversion directive –Investigation panies that ensure transparent billing system among the GSM companies for traffic interconnection while preventing disputed billings associated with inter-carrier interconnectivity.

New Telegraph had reported exclusively that the interconnection indebtedness among operators in Nigeria is poised to grow beyond N20 billion in the coming years, citing sources, which claimed the trend would be so as long as telecoms operators fail to route most of their traffic through licensed interconnect exchange firms.

In 2013, the indebtedness, arising from call termination rates, charged the call-originating operator by the call-receiving network, was estimated at N20 billion.

However, the figure is often disputed as operators disagree with each other on how much an operator owes another network.

A source at one of the major interconnect exchange firms licensed by the NCC said that interconnection debt among telecoms operators is a major problem in the industry.

“The reason is simple: If I terminate my call on your network and you give me termination bill for interconnection, I may disagree with you that the bill you are giving me is far more than what I calculated on my own as payable to you,” the source had said.

He continued, “The operators, thus, disagree and the payment obligation is neglected, yet, the NCC rule is that no operator should deny another the right to interconnect with its network. So, this is how the bill piles up.”

According to the source, “About 95 per cent of the interconnection traffic is handled by the telecoms operators while only about 5 per cent pass through interconnect exchange licensees, which should handle such rate.”

He said, “Until we allow the interconnect clearing houses to work as the middle men to handle all the traffic for interconnection and then prepare

Glo unseats Airtel C O N T I N U E D F R O M PA G E 2 5

In effect, between end of February and June end, Glo added over 2.8 million new subscribers to its network, while Etisalat recorded over 1.2 million new customers.

On the other hand, MTN lost 666,986 subscribers while Airtel also lost 892,176 customers, the highest loss within the period.

Meanwhile, Glo also retained its position as the network with the second largest Internet subscription in the country with 14.3 million active subscriptions, according to the NCC’s latest data.

MTN however, retained its first place with 34 million, while Airtel and Etislat now have 12

Sanctity of Truth

Monday, September 22, 2014

million and 6.8 million active Internet subscriptions respectively.

According to industry analysts, the massive network upgrade recently embarked upon

by Glo and its bouquet of new service offerings may have given it an edge over other operators.

The network expansion involved swapping of old base stations with new ones and modernisation of existing infrastructure into a state-ofthe-art network software and hardware.

It also involves achieving 90 per cent 3G coverage, making it possible for Glo data subscribers across the country to experience significant service enhancement.

the bills, which one operator is owing another, operators will continue to dispute any indebt figure given to it by another operator.”

The growing interconnection indebtedness among operators has been described as a potential threat to the stability of the country’s telecommunications market.

The development, according to analysts, is particularly worrisome as some operators had, at some points; threaten to cutoff debtor networks after mediation and arbitration avenues had been fully explored.

“The benefits of introducing the new carriers are clear: a huge amount of traffic is being taken off the infrastructure of the established carriers in Nige-

ria, thereby, freeing up capacity, increasing speeds and reducing latency,” said the Managing Director, World Telecoms Labs, Mr. Leigh Smith. “There is greater transparency and openness in the market.”

Smith also disclosed that more than 1 billion minutes of voice calls have passed through his company’s specialist 2nd generation Voice Over Internet Protocol (VoIP) switches deployed by five of Nigeria’s interconnect.

When New Telegraph contacted most of the operators, none was willing to comment on the development.

However, Chief Executive Officer and a former MTN engineer, Mr Akin Akinbo, said, “It is true that operators are not giving as much as 10 per cent of

their traffic to the interconnect exchange firms.”

Akinbo him, “The current attitude of the telecoms firms not to shed 10 per cent of their traffic to IXCs is not good for the industry. The directive is a regulatory or legislative thing. So, NCC would come in and ensure that operators comply.”

He pointed out that the reluctance of the telecoms networks was based on their ‘consideration for bottom-line.’

Head, Media and Public Relations, Mr Reuben Mouka, said, “The 10 per cent traffic shed-off is a regulatory position, explaining that the Commission would ensure compliance, as it will also help in freeing network capacity of the operators for improved services.”

L-R: Doyen of the Nigerian Stock Exchange, Mr. Sam Ndata; Chief Executive Officer, Stanbic IBTC Asset Management Limited, Mr. Olumide Oyetan; Head, Product Development, Nigerian Stock Exchange, Mr. Dipo Omotoso and Chief Executive Officer, Stanbic IBTC Stockbrokers Limited, Mr. Dele Sotubo, at the Facts Behind the Offer presentation on the Stanbic IBTC Exchange Traded Fund 30 at the Nigerian Stock Exchange, Lagos…on Wednesday

Importers flay cargo diversion to off dock terminals ANTI TRADE The shipping company is exploiting importers at the port

Bayo Akomolafe

N

igerian importers have condemned the extra cost they are compelled to bear for diversion of their consignments to private off dock terminal located in some parts of Lagos State.

It was learnt that the shipping companies were unilaterally taken the decision without negotiation with the consignees.

The port terminal operators owned some of the bonded terminals.

A source in one of the shipping companies, who pleaded anonymity, explained that the

companies were diverting the goods to the bonded teminal to make extra money.

According to her, N40,000 is being paid on every container transferred to the off dock terminal.

A freight forwarder, Mr Sam Elem, who confirmed the practice, also said that officials of the Nigerian Customs Service were feeding fact from the system.

He alleged that after paying the transfer fee of N40,000, Customs officials would deliberately delay the documents from being processed in order to extort money not bargained for by the importers.

Elem said it is the consumer that would bear the extra cost, as no importer would want to operate at a loss.

He noted: “Bonded terminal operations, it will be recalled, gained ground in Lagos in the 1990s to take pressure off the main ports and reduce congestion caused by the inefficiency

of the Nigerian Ports Authority in cargo handling operation. “ Cargo and Customs related activities were shifted from the main ports to the off dock facilities.

“At the height of port congestion in the 1990s up till 2006 when terminal handling operations were passed on to private companies; government, through the Nigeria Customs Service licensed some bonded terminals to serve as palliative to the perennial congestion at the Lagos Port Complex and Tin Can Island Ports.”

He alleged that there was no standard for licensing them, neither were there standards for their operation.

“Containers that were supposedly under Customs escort grew wings, while transiting from the main port to the bonded terminal. Government was short-changed of huge revenue, as Customs officers colluded with agents to perpetrate all manners of fraud,” he stressed.

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Federal Secretariat Ikoyi

A multibillion edifice in ruins

The Federal Secretariat, Ikoyi

Since 1991, when the headquarters of federal ministries relocated to the Federal Capital Territory (FCT), Abuja, during the regime of Gen. Ibrahim Babangida, the 39-year-old Federal Secretariat located in Ikoyi, beside Alagbon, Lagos has been abandoned, in a state of ruin. MOSES KADIRI visited the once power house of civil service and discovered the complex is now a graveyard, among other findings.

S

he was in shock for only five minutes. When Antonia Tokunbo, a retired civil servant with the Federal Ministry of Information, Alagbon, Ikoyi, Lagos visited one of the banks along Alagbon, beside the old Federal Secretariat two months ago to upgrade the account she opened with the bank while she was in civil service, she stood at one of the entrance gates of the former secretariat for some minutes.

She was shocked with disbelief to see the current state of the once magnificent building, that was the power house of civil service.

Was this what the secretariat has become? She asked herself in disbelief.

Tokunbo was astonished to see the former busy secretariat, which offices comprise the Head of Service (the civil service is a branch of government which is usually grouped with the

Executive, and without which governments cannot function effectively), and Medical Centre among other offices has now become a graveyard. “Weeds have taken over the whole place.

The complex was once like a market, where people run up and down to one office or the other,” she recalls. “I used to go to Head of Service; you see beautiful people who have come to solve one issue or the other,” she said.

She reiterated: “Everything was working perfectly; the lighting, elevator, activities at the Federal Secretariat cannot be described; any problem you have that has to do with ministry, it is there you go to.”

She compared the Abuja Federal Secretariat to the Lagos Federal Secretariat.

The way the Federal Secretariat in Abuja is presently, that was how the old Federal Secretariat in Ikoyi was then. You see people coming

in and out of the secretariat; you cannot count the number of people that enter that complex a day. That is to tell you how busy it was back in the days,” she disclosed.

When Mega City visited the 12-storey building with sprawling blocks of offices built in 1975, the complex is like a jungle. It could be considered for searchers in reality shows.

The structure has gone down in terms of quality of facilities, no windows, no electricity; some of the roofs have been blown away by wind; a section of the building has cracked, the wall paint has been washed away by constant rain fall.

The whole complex is adorned with tall trees, weeds. Birds, and other animals are the current beneficiaries of the old Federal Secretariat, which had not been occupied since the headquarters of federal ministries relocated to the Federal Capital Territory (FCT), Abuja, during the regime of Gen. Ibrahim Babangida in 1991.

Aside that, the gates of the massive complex is now parking lots for broken down vehicles while auto mechanics have taken over the structure. It is now home for other businesses like ‘Baba Ijebu’ (lotto), wait and get passport photograph, among others.

A section inside the premises, beside one of the banks is a food joint, where some women cook and serve meal to customers. Some motor bikes, popularly called okada were neatly parked in one of the wings of the secretariat.

One of the bike riders simply relaxed, close to his motor bike, having his siesta during a sunny afternoon.

There is no doubt, with the continued abandonment of the complex, it poses security risk to Nigerians, who ply that spot at night, because there’s no security light around the edifice.

It was gathered that since 2006, when the complex was concessioned to Resort International Ltd., the complex has remained abandoned.

Mega City heard from a source that there is a battle of wits between the Federal Government and the Lagos State Government over the structure; that Lagos State had planned to convert the complex to its original use, while the concessionaire wanted to transform it into residential property.

The only time the complex was occupied was during the tenancy of the National Agency for Food and Drugs Administration and Control in one of its wings. The tenancy of the agency was cut short by an inferno, which gutted its offices in 2007.

Poor security, laziness render pedestrian bridges useless Moses Kadiri

N

o doubt, pedestrian bridges are meant to provide safe means for crossing the expressways and prevent obstruction of free traffic flow.

Despite the importance of these foot bridges, many detest using them, thereby endangering their lives.

Some complain that it takes time and energy to climb to and fro the bridges; others attribute it to laziness and old age. Some are not lucky; hitand-run vehicles have killed so many people while running across the expressways because they failed to use zebra crossings, even at the foot of the bridges.

Aloaye Samuel was held in Cele Bus Stop, along Mile 2 Apapa Expressway last year for crossing the highway and failing to use the pedestrian bridge.

He was among several other people caught on the sunny afternoon by officers of Kick Against Indiscipline (KAI), and taken to Ajao Estate Police Station, Lagos for endangering his life.

The young man spent the whole night in police custody; his family came in the morning to bail him. Ever since the incident, he vowed never to cross the highway again.

“Since that incident, I have been using the pedestrian bridge. I don’t cross the road anymore; no matter the urgency of the situation, I must use the pedestrian bridge. It is only where there is no pedestrian bridge CONTINUED ON PAGE 28

28 FEATURE /MEGA CITY

Monday, September 22, 2014

Olaiya canteen: Feeding pot of the rich, poor It is one of the numerous food joints in the Lagos metropolis.

At Olaiya Canteen in Surulere, Lagos, the rich and the poor, congregate, queue patiently for their turn to be served, as OWUMI KEVWE found out.

T

he queue was long. The crowd was impatient. Clash of plates were making meaningless music to the ear. The cacophony of voices overshadow the food vendor. I need amala, ewedu and gbegiri soup with N200 meat, inclusive of ponmo,”: “Give me amala N50 with N150 meat and gbegiri soup.” “Hey! You there, give me N100 amala with ogufe(goat meat)”.It went on like that. This is a typical daily routine at Olaiya food canteen, where the high and mighty in Lagos go to eat amala, with its special delicacy of gbegiri(beans soup) and ewedu soup, with assorted meat or goat meat.

In its 15 years of existence, the amala zone is waxing strong. It has maintained a steady stream in area of income, customer audience and quality of food sold. Customers from all around Surulere and far wide, found their ways to the place for the delicious meal. The buka became famous because of the high demand of amala (yam flour), coupled with the fact that Lagosians seemingly don’t cook.

With satisfied workers on standby, one can order any of the assorted food, which varies from African dishes to contemporary foods like rice, fried yam, fried and jollof rice, Chicken Burrito; you name it. The canteen is sure to give you a promising taste.

Of all the varieties, Amala is the most

A section of the canteen

demanded. Without intimidation from rivals, the outlet is one of the most popular in the Akerele Community, Surulere.

On getting there at about 12:30pm, Mega city discovered different types of cars parked outside, like Opel, Toyota, Benz, and even latest cars like Range Rover Sport, and other sophisticated wonders on wheels, which shows the calibre of people who go there to eat.

The canteen is ever busy. There are different streams of people with different duties. While some serve the food, some clear the table and others do the washing. The cashier is stationed at one corner of the canteen. He collects money from customers after placing orders for their food.

The interesting part of the canteen is the kitchen, where three men and women are gathered round a large iron pot stirring the hot amala with long sticks. At the far end of the kitchen are various large pots of soups steaming hot with aroma. Reason, the whole can-

teen smell of the sweet aroma of food.

A plastic spoon of amala costs N50, a spoon of vegetable soup goes for N100, while ogufe meats cost N500 per piece.

Assorted meat depend on the pocket of an individual. One can get a plate of meat as low as N250 depending on the meal and the choice of the customers.

Alhaji Ameen Taiwo, the proprietor, told Mega City that effective branding is the case. “Different people from all parts of Lagos drive down just to eat here because of good packaging that they receive. “There is absolutely nothing behind it. At Olaiya canteen, we place customer satisfaction at premium. Believe me, we have been consistent with some other value-added advantages, such as goody bags, promos, among others. He, however, added that the heavy wave of patronage have been managed by several attendants that have been employed,” he said.

According to Alhaji, as he is commonly called, the rush hours span

form 12noon to 11pm daily, while the peak period is between 3pm and 7pm.

Adekunle Ogunlade, a marketer said: “I have been patronising this canteen for 14 years, and even sometimes, I drive all the way from Victoria Island to Surulere to eat amala.” He added that, “the reason I like coming is because the canteen is very convenient for eating. It has a good branding in progress. Instead of going to fast food joints all the time, Olaiya is able to give me all I want.”

Another customer, Miss Adebimpe Aderoju, corroborated Ogunlade. “I come to Olaiya every day. People think they use charm, but for me, I don’t believe it because, Olaiya food canteen is a very neat canteen, coupled with affordable prices, and quality of food sold.”

The Operations Manager in the canteen, simply identified as Mr. Adebayo, lauded the patience of the customers.

“The customers are always willing to wait even at rush hours because most of them are used to the system.

Poor security, laziness render pedestrian bridges useless CONTINUED FROM PAGE 27

that I cross the road”, he said.

Onyema Ugochukwu, prefers crossing the expressway because of her chubby stature. She complains of leg pains whenever she uses the bridge. “I don’t have that energy of climbing the bridge. I am very fat. Sometimes, when I use the bridge, I will be panting; crossing the expressway is easy for me, but I make sure I look very well before crossing the highway,” she said.

There are lots of new foot bridges constructed in the Lagos metropolis. They are attractive, and user friendly, unlike some of the existing ones.

Pedestrians prefer using the newly constructed foot bridges in places like, Alafia Bus Stop, Orile Iganmu, Lagos, than crossing the highway because of its friendly nature, though a sizeable number of people still run across the expressway. “I reside in Alabaka area, Amukoko, Lagos. Because of the expansion on the Mile 2 expressway, I decide to use the pedestrian bridge because vehicles ply one-way on the road; lots of people have met their untimely death while crossing the road. Although the bridge is very long, I enjoy using the bridge. It is easy to climb”, Francesca Umeh, a stylist said.

Though some of the foot bridges are attractive, with roofs that shades pedestrians from

sun and rain, some of them are death traps. Some pedestrians have been injured while using the foot bridge in Cele Bus Stop, along Oshodi Apapa Expressway.

The bridge is sleepy; the stairs are off, and the rod used for the concrete is visible on the surface.

At night, the foot bridge is a super market, where women display items for customers to buy, with the aid of rechargeable lanterns, they see their way through.

The bridge in Ijesha Bus Stop on Mile 2 Expressway, for instance, has not seen sanitary cleaners in the last two months or thereabout, the bridge is a dumping site for refuse.

The pedestrian bridge in CMS is well utilized; the wire barricade on the road prevents people from crossing the expressway.

In Lekki Bus Stop, the pedestrian bridge that connects Lagosians to Lekki Peninsula Estate has full patronage, there is no way an individual can cross the road because of the wire barricade. Law enforcement officers are on ground to enforce compliance.

Some of the bridges from Fadeyi, through Ojota do not pose security threat to pedestrians at night due to the security light for visibility. Some of them don’t have security light. Pedestrians find it difficult to access the bridge. Rather, they prefer

A pedestrian bridge. INSET: traders on a Lagos bridge

crossing the road because of security reasons. Some are well kept as if the sanitary cleaner just visited the bridge.

None of the bridges on Apapa Oshodi Expressway has security light. This, however, poses as security threats to pedestrians. The aluminium used on the Aswani foot bridge has been vandalised.

Investigation reveals that there is need for foot bridges in some area in the state; this is as a result of the frequent lives being lost on the highway. In

November last year, Governor Babatunde Fashola ordered the construction of five pedestrian bridges along Lagos-Epe Expressway. This came a week after some pupils of Ikota Primary School, Ikota, along the busy road were killed by a truck.

Second Rainbow Bus Stop on Mile 2, Apapa Oshodi Expressway has claimed so many lives. Early in the year, a pregnant woman was killed by a hit-and-run driver, because there’s no bridge.

Secretariat Bus Stop on the Lagos-Ibadan Expressway has

no foot bridge. With the influx of people crossing the road to work in the secretariat, Ikeja, there’s need for pedestrian bridge on that axis.

Few months ago, a woman met a violent death as she was hit by a commuter bus which cut her into pieces, following a collision involving other vehicles in Berger Bus Stop, Lagos Ibadan Expressway.

Some sympathizers lamented, the tragedy could have been avoided if a pedestrian bridge had been built across the road.

LIFE IN THIS CITY / MEGA CITY 29

Monday, September 22, 2014

LASG sets to establish metropolitan park at Ibeju-Lekki agos State governLplans ment has concluded to establish a metropolitan park at Ibeju-Lekki, Mrs Titi Anibaba, the Managing Director, Lagos State Parks and Gardens Agency (LASPARK), has disclosed.

Anibaba made the disclosure on Thursday in Lagos in an interview with the News Agency of Nigeria (NAN).

She said that the establishment of the park was aimed at creating a one-stop recreation centre for revelers and funseekers.

She said that 5,000 hectares had been allocated by the govern-

ment for the park, which on completion would accommodate over 10,000 people. ``The park will be located at Ayetutu; a community in Ibeju-Lekki Local Government Area and on completion will be the biggest recreational centre in Lagos State because of its large space,’’ she said.

Anibaba said that facilities to be provided at the park includes swimming pool, play ground, basketball court, tennis court, football pitch, mini zoo and horticulture centre.

She said that the mission of the agency is to create a beautiful,

safe and healthy state through the establishment of functional parks, gardens and recreational centres.

She said that the establishment of parks and gardens across the state would boost Internally Generated Revenue (IGR) for the government.

The MD listed some of the health benefits of the proposed park to include, stress reduction, reducing the risk of skin cancer by providing shade from harmful ultra-violet radiation.

She added that flowers that would be planted in the park would release scent and

A garden park

aroma that would elicit positive emotional response.

Anibaba said that since its inception in 2008, LASPARK had established 297 parks and gardens.

She war ned that person found littering; polluting or dumping refuse in parks or gardens would be liable on conviction to a fine or imprisonment.

Gov. Fashola and Tunji Bello planting a tree

15-vessels laden with petroleum products stranded on the high sea o fewer than 15 vesNtroleum sels laden with peproducts are stranded on the high sea, an investigation conducted by the News Agency of Nigeria (NAN).

This followed the indefinite strike embarked upon by members of the petroleum industry workers five days ago over N85 billion unfunded pension fund.

Sources close to Motor Transport Division (MTD) of the Nigerian National Petroleum Corporation (NNPC) made this known to NAN on Friday in Lagos.

NAN recalls that members of the National Union of Petroleum and Natural Gas Workers (NUPENG), and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), had on Monday embarked on an indefinite strike.

The strike followed unresolved pensions issues between the unions and NNPC. The pension issues was also further compounded by the revocation of the license of the NNPC pension scheme because of alleged inability of the corporation to bridge the N85 billion gap in their scheme.

NAN also reports that the unions’ strike had led to the shutdown of NNPC depots and its subsidiary operations nationwide.

A senior official of

the MTD, who wants to remain anonymous, said that no vessel could berth at the Apapa or Atlas Cove sea port due to the union’s strike. ``Once all the current vessels at the Apapa port leaves the shore, no vessels can come to berth or discharge, because most of the NNPC MTD workers, who are saddled with the scheduled of allocation and distribution of products are on strike. ``We hope the unions call off the strikes today (Friday), if not Nigerians would experience harsh situation as most filling stations are gradually running out of stocks. ``Over 15 vessels had been stranded on the high sea due to the strike because nobody can schedule them for discharge, this has also depleted the country’s product reserves which is sending wrong signals,’’ the source said.

NAN also reports that most Lagos residents have resorted to panic buying of petroleum products, especially petrol and kerosene.

Investigation by NAN correspondent around metropolitan Lagos showed that the panic buying has resulted into long queues and struggle for the products at some petrol stations.

Some of the petrol stations along Ikorodu road, Bariga, Ikeja, Surulere and Iganmu

were open for business while most were shut down.

An operator of one of the petrol stations told NAN that the strategic role of NNPC in the nation’s economy makes it imperative for the unions and government to reach an agreement on the pension and other sundry issues.

The operator told NAN on condition of anonymity that most patrol stations were selling their last batch of products.

According to him, petrol station owners have resorted to buy-

ing petroleum products from private depots, adding that the cost implications and their limited stocks makes the union’s strike an economic challenge.

Mr Shina Falade, Total petrol station Manager at Ojota, Lagos, said that panic buying had resulted physical scuffle by motorists who are anticipating petrol scarcity.

Falade said that the strike has taken motorists and other stakeholders by surprise, especially as operators usually replenish their stocks at the weekends.

Also speaking, a com-

muter, Alhaji Akeem Onile-ere, said that the incessant strikes by petroleum industry workers remains a major setback on the economy.

He said that the nature of strike in Nigeria has gotten to the level that very soon members of the national security organisations would embark on strike.

Onile-ere also said members of the public are becoming use to the incessant strikes, stressing that most people may drop their personal vehicles as part of measures to survive the effects of the strike.

Meanwhile, the Lagos Zonal Chairman of NUPENG, Alhaji Tokunbo Korodo, said they would demand for solidarity strike from other unions, if the ongoing dialogue with NNPC management fails to yield positive result. ``We want to make this clear. It is not Nigerians that are the problems. We don’t want to unnecessarily punish Nigerians. ``The point is that if the NNPC continues to neglect our demands, we will then call for solidarity support and ground all operations,” Korodo said.

Lagos has deficit of 300m gallons of water per day –LSWC Boss Lagos State Water Thashe Corporation (LSWC) said it had water

deficit of about 300 million gallons per day.

Its Group Managing Director, Mr Shayo Holloway, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

According to him, the reason for this deficit is the high population in the state with an average of five per cent estimated growth rate yearly. ``The total demand for water is 540 million gallons per day. The corporation has total installed capacity of 210 million gallons per day leaving a shortfall of 300 million gallons. ``However, the corporation is working to-

wards meeting the demands for water supply in the state,’’ he said.

Holloway said that the state had started working already on a road map to meet the water demands.

He said work had already commenced on the Adiyan Phase II Water Works Project and it would be completed in 2016.

According to him, the Adiyan Phase II project will add 70 million gallons of water per day to the already existing 210 million gallons.

The managing director said that the corporation had a design for a water works project in Badagry.

He said that the Badagry water works project

Ikorodu mini water works

would be constructed by a private firm through Public Private Partnership (PPP).

Holloway said the corporation had started discussions with a PPP to develop the water works expected to

www.pmnewsnigeria.com

produce 200 million gallons of water per day.

He said that meeting the water demand in Lagos State was a continuous assignment as it was not something that would be done in a year.

30 THE MEGACITY

Monday, September 22, 2014

UPCOMING EVENTS

CVL Economic Growth Sector Celebration (ICT Sector)

Organiser: CVL Date: Friday, 26 September 2014, 17:00 to 20:00 Venue: Ozumba Mbadiwe Road, Victoria Island, Lagos Nigeria

Free Real Estate Seminar

Organiser: Debo Adejana Date: Saturday, September 27, 2014, 12:30 PM to 2:30 Venue: RPL SEMINAR HALL. 3rd Floor, Onigbagbo House.

29 Mobolaji Bank Anthony Way, Lagos, Nigeria

MEGA CITY EVENTS:

Youths arriving for the rally at the Tafawa Balewa Square

Creative Enterprise Session

Organiser: Creative Entrepreneurs Association of Nigeria Date: Wednesday, September 24, 2014, 10:00 AM to 1:00 PM Venue: British Council, 20 Thompson Drive ikoyi, Thompson Avenue , Lagos, Nigeria

Good Governance Summit

Organiser: Good Governance Team Date: Wednesday, September 24, 2014 at 10:00 AM Friday, September 26, 2014 at 2:00 PM Venue: Eko Hotel and suites, Victoria Island, Lagos Nigeria

Faces at the PDP rally in Lagos...Saturday

My City, My World I enjoy the traffic – Jonas Oluwatosin Omoniyi Jonas, Jpubilee an online erfume

d e a l e r, wouldn’t imagine life outside Lagos.

Born, bred and buttered as the saying goes, in Lagos, she doubt if she can actually function outside Lagos. She Jonas told Mega City that whenever she travels to America, she does not feel comfortable beyond two weeks, even though her other siblings are over there. “For me, Lagos is home and I am comfortable here,” she said. What she loves most in Lagos is the aso-ebi and party culture, which she described as colourful and interesting. The culture, as she was tutored is that it is a social way of supporting the organisers of the party. A unique feature, she pointed out, is that Lagosians are progressive people. She believes there is a healthy competition among them. As such, they do not have time for frivolities. Lagos is cool and really exciting, according to her. She pointed out traffic as a unique feature of Lagos. She said one can get almost everything done inside the traffic.

For her, she catches up with her morning devotion inside the traffic. She creates her thought line while hooked inside the traffic, “Lagos traffic is always tight and a bit trapping. So, I organise my schedule and do some little shopping while trapped inside the traffic,” she said.

Jonas further said that Lagos is an interesting place with people she considered humorous.

“Some characters make you laugh even when they actually meant to make you angry. “Life is beautiful in Lagos,” she believes.

Lagos is second New York –Enosegbe ictor Enosegbe, a security consultant in LaVLagos. gos would forever be grateful that he came to He said when he came into Lagos more

A masquerade entertaining the crowd

And the police was there too

than 25 years ago, it was ground zero for him. He had nothing but was determined to be successful. “To God be the glory. I have accomplished a lot in Lagos. I have a company with workers.

I have built my own house and so many other things that I have done,” he said. He described Lagos as a second New York in America, very busy and civilized. He said Lagos is unique in the sense that it gives hope of survival and that is if one is not lazy. He added that Lagos has unique features in terms of powerful road networks compared to other states in the country.

Enosegbe explained that though, Lagos is small, one can access the whole Lagos State within an hour without traffic. Another attribute is that despite the tightness, shuffling and pushing in the state, people still manage to laugh, according to him. Enosegbe loves Lagos because he believes that it kills depression. Once he walks on the streets of Lagos, the different faces and characters that he sees on the street make him to laugh it off. “Lagos is filled with crazy human beings.”

According to Enosegbe, there is money in Lagos but for serious minded and hard working people. This could be probably one of the reasons, he said, he would not dream of living outside Lagos. “God forbid! I can’t live outside Lagos. My family, business, properties and even friends are all here,” he said. He added that he is not even thinking of re-settling in his village. “I love Lagos because it is a busy and noisy place.

It helps kill depression,” he emphasised.

BUSINESS | NEWS

Sanctity of Truth

Monday, September 22, 2014

ATYPICAL Nigeria is spending huge funds to import the commodity that can be produced locally

Bayo Akomolafe

T

wo vessels have berthed with 18,000 metric tons of palm oil valued at 2.06 billion ($12,905,000) at the Lagos Port Complex in Apapa.

A ton of the commodity is sold at $645.25 in the global market.

The two vessels bearing same name, MT Marida Magnolia were moored at the Apapa Bulk Terminal Limited with

Two vessels berth with N2.06bn palm oil 8,000 and 10,000 metric tons of crude oil respectively.

It was learnt that manufacturing companies in the country, in the last three years, have spent not less than N250 billion to import palm oil due to short supply of the commodity in Nigeria markets.

Shipping expert, Dr Zebulon Ikokide, and national president of the Nigerian Institute of Freight Forwarding, blamed government for the surge in the importation of the commodity.

He noted that it was a misplaced priority for government to have allowed the country to degenerate to that extent, with

the large expanse of arable land in the country.

Ikokide noted that only the Imo State government was trying to revive its palm oil plantation.

He said that all the soap manufacturing companies had no other option than to import the commodity.

The expert noted: “There is shortage of red palm oil in the country. The soap manufacturing companies don’t have enough, that is why they have to result to importation.”

Manufacturing companies such as PZ Cussons, Unilever Plc and others depend on palm

L-R: Head/Director, Inspectorate and Quality Control Department, Lagos State Building Control Agency (LASBCA), Ayo Sodeinde; General Manager, LASBCA, Abimbola Animashaun and Assistant Chief Builder Officer/ Divisional Head, Adeoye Adeyemi, during a press conference in Lagos.

NCAA issues 8,874 licenses to Nigerian, foreign pilots SAFETY Aircraft age is not an issue in air safety says Aeroconsult’s CEO

Wole Shadare

T

he Nigerian Civil Aviation Authority (NCAA) has issued a total of 8,874 licences to both foreign and local aircraft pilots in the last 14 years.

Director-General of the regulatory authority, Benedict Adeyileka, disclosed this in a paper he presented at a seminar in Lagos at the weekend.

He said that the agency as at July 2014, had issued at least 6,679 licenses to Nigerian pilots and 2,195 to foreign pilots within the same period.

He, however, said that of these numbers, only 806 are still valid among indigenous pilots, while foreign pilots are still using 182 in the country, On aircraft maintenance engineer license, Adeyileka informed that 3,431 had been issued since 2000, while 1,161 were valid as at July 2014.

31

Cabin crew license within the years under review stood at 3,532 but 818 remained relevant till date.

Also, he noted that the regulatory authority had issued 583 licenses to Air Traffic Controller (ATC) and 202 are still valid.

NCAA had also issued 504 licenses to flight dispatchers and 247 are still valid as at July this year. He added that in 14 years, NCAA had given out 258 licenses to flight engineer, while only four still remain valid.

On Aeronautical Station Operator License, NCAA gave out 135, while 123 are still valid.

Besides, he noted that 382 air traffic safety electronic personnel licenses had been issued since 2000 and 228 are currently valid remained valid.

Adeyileka, in his presentation, decried the challenges facing the airline sub-sector, saying that it had led to the massive dearth of the domestic operators.

He listed the challenges to include ageing aircraft, cost of aircraft leasing/financing, high cost of aircraft insurance, old workforce and skyrocketing prices of Jet A1 otherwise known as aviation fuel.

The NCAA boss however, said that ageing aircraft was not a major challenge to the operators, but the effect of high maintenance cost of such aircraft to the airline operators.

Meanwhile, Chief Executive Officer, Aeroconsult, Tunde Obadofin, said that safety was a non-negotiable attribute in the sector, maintaining that it is the cornerstone of any aviation operation and expected by customers, government and the public in general.

He emphasised that with the air traffic projections in the years ahead, current and emerging safety risks must be addressed proactively to ensure that any capacity expansion was carefully managed and supported through strategic regulatory and infrastructural developments.

Obadofin noted that the industry airline had been plagued by low yield exacerbated periods of disastrous under-performance, observing that several macro-level socio-economic factors such as rising oil prices, terrorism and recently Ebola Virus Disease had impacted profitability adversely.

oil daily for various productions, but local production cannot sustain them.

Also, it was revealed that producers of noodles, vegetable oil, biscuits, chips, margarines, cereals, baked stuff, washing detergents and cosmetics, consume 90 per cent of the palm oil being imported, while 10 per cent is used by the non-food sectors.

Between 1950s and 1960s, Ni-

geria was the largest producer of crude oil palm in the world with a market share of 43 per cent. It supplied 645,000metric tons of palm oil across the global market annually.

Oil palm can be found in large quantities in Ondo, Abia, Enugu, Anambra, Ogun, Bayelsa, AkwaIbom, Ebonyi, Imo, Cross River, Delta, Ekiti, Osun, Oyo, and Rivers states.

Synagogue: Disaster reaffirms calls for risks transfer C O N T I N U E D F R O M PA G E 2 5

purchase insurance to provide compensation in event of bodily injury, death and property damage to workers at construction sites and affected members of the public following collapse of the building and other construction risks. The penalty for non-compliance is N250,000 plus three years imprisonment. Record of conviction, sealing-off and demolition of the building, are the penalties provided under the Federal and Lagos State laws.

Casualties from collapsed buildings under construction in Nigeria keep rising by the day and nothing is ever done to compensate the families of the unfortunate victims, not because there is no law to that effect, but because of Federal Government’s inability to strengthen the enforcement mechanism.

Despite the availability of the law, most Nigerians have failed to take advantage of it even in the face of incessant building collapse leading to deaths and disabilities.

The Synagogue experience is once again offering an opportunity to Nigerians to take seriously the issue of insurance, as well as a reminder to the Federal and state governments to make the implementation of the law an important matter.

Although the founder of the collapsed structure that have claimed not less than 80 lives with so many injured, Prophet T. B. Joshua, has attributed the collapse to an attack by yet to be identified enemies. Some observers however, believe it was rather due to poor engineering work. But the fact remains that if the risks of the building were properly transferred to an insurance company, the construction workers on duty and the occupiers in the case of Occupiers’ Liability, would have been properly compensated after investigation.

As far back as 2006, collapse of public buildings and buildings under construction has been a major problem in the country especially in Lagos State where most of the construction engineers deploy substandard materials in the construction of such property.

Precisely in March 2006, a 21-storey Nigerian Industrial Development Bank (NIDB) building collapsed, leading to the death of one person and 24 injured.

In July of the same year, a four-storey block of flats collapsed in Lagos, leading to the death of 25 people. Government

officials promptly promised that those responsible for the building's collapse would be prosecuted. But nothing was heard again after that beyond the pronouncement.

Again in November, an unfinished three-storey building still under construction collapsed.

Two construction workers were killed.

In 2012, a shopping mall under construction in Abuja also caved in, leading to the death of at least five construction workers.

In 2013, a five-storey shopping complex under construction at Muri Okunola street collapsed, killed three persons and injuring 15 others.

It was learnt that the construction workers were casting the decking and the pillars when the building caved-in on them.

An embarrassing dimension to the Synagogue saga is the international slant, as more foreigners especially from South Africa were the victims. It would turn out another minus for Nigeria not to have proper implementation process to ensure that such buildings are fully covered by insurance.

It is even more embarrassing to debate whether the church secured regulatory approval before it embarked on increasing the floors of the collapsed building.

New Telegraph recalls that as a build up support for the successful implementation of the Nigeria Insurance Market Development and Restructuring Initiatives (MDRI), NAICOM had vowed to enforce Compulsory Insurance in the country.

The Commissioner said that the MDRI project was the brainchild of the commission and one of the major components of Compulsory Insurance in Nigeria is insurance of public buildings.

He cited examples of several collapsed buildings in the country, leaving scores of people injured or dead without any compensation because they were not covered by an insurance policy, adding that such a situation underscored the need for strict enforcement and compliance with all the insurance made compulsory by law.

He said: “It is a national shame to see people being brought out dead from collapsed buildings. All these buildings are supposed to be insured for security and I do recognise that no matter how much you pay to compensate victims, it does not compensate for life lost.

BUSINESS | MONEYLINE

32

Sanctity of Truth

Monday, September 22, 2014

CBN hinges N100m and above deals on BVN compliance

KYC Customer that does not have BVN by June 2015 is deemed to have inadequate Know Your Customer checks

• Sets 2015 deadline

Godson Ikoro

stressing that any customer who does not have it by that date is deemed to have inadequate KYC – Know Your Customer Checks.

These were the highpoints of the CBN circular with Ref. BPS/ DIR/GEN/CIR/01/013 signed

by Dipe Fatokun, Director of Banking, Payment, Systems Department, on the acceleration of the BVN project sent to all banks.

The banking watchdog said that these measures were to

T

ransactions valued at the N100million and above would only be allowed by customers with the Bank verification number (BVN), the Central Bank of Nigeria (CBN) has said.

These transactions include, but not limited to money transfers, loans, contingencies, by March 2015.

The apex bank also set June 2015 deadline for all bank customers to have gotten the BVN,

expedite the progress made so far, in the implementation of the BVN project.

Furthermore, the CBN said that lenders should intensify efforts to sensitize their customers on the aforementioned development and enroll them for the BVN accordingly.

While the DMBs are required to submit to the Nigeria Interbank Settlement System (NIBSS), as part of their weekly returns on customers accounts details, the account status of

Interbank rates ease on improved liquidity • Bond yields set to slip

N

igeria's interbank lending rates eased to an average of 10.37 per cent last week, compared with 10.62 per cent penultimate week, with markets expecting a liquidity boost from monthly government budgetary disbursement.

Traders according to Reuters, said though market liquidity was hit by large cash outflows to bond auction and open market operation (OMO), resulting in an outflow of about N220 bil-

lion ($1.35 billion), the market closed with a surplus of about N200 billion in cash last Friday.

The Federal Government sold N100 billion in 3-year, 10-year and 20-year bonds last Wednesday, while the Central Bank of Nigeria (CBN) issued about N117 billion in new OMO treasury bills.

"We are expecting a further boost in liquidity level by the close of business at the weekend from budget allocations

to government agencies and this has helped to keep the market in check," one dealer said.

Africa's biggest economy distributes revenue from oil imports among its three tiers of government on monthly basis, and flows to states and local government provide the banking sector liquidity to fund operations.

The cash balance that lenders hold at the apex bank was N400 billion at the open of trading last Friday, compared with N 204.37 billion penultimate Friday.

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

FX

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

Mobile banking: Orange in talks with Ecobank Sunday Ojeme

L

eading French telecommunication outfit, Orange, is considering a partnership with Ecobank for mobile banking services for the lender’s customers in sub-Saharan Africa.

This is coming just as subscribers to the network in Africa will soon deploy their mobile gadgets in withdrawing cash from their Bank of Africa accounts in the coming months.

Orange is a French multinational telecommunications corporation. It is a global provider for voice, video, data, and Internet telecommunications and professional services to businesses and consumers with over 226 million customers as of December 2011, and under the brand Orange Business Services, is one of the world leaders in providing telecommunication services to multinational companies.

Prior to latest arrangement, all the Global Systems for Mobile Communication (GSM) telecom network providers in Nigeria including MTN, Airtel, Globacom and Etisalat are already into mobile banking services. There is, however, the major challenge of inadequate agents to drive the process.

Ecobank, whose official name is Ecobank Transnational Inc. (ETI), but is also known as Ecobank Transnational, is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.

It also maintains subsidiaries in Eastern Africa, as well as in Southern Africa.

About three weeks ago, Qatar National Bank acquired more stake in the bank with $283million.

T

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

In order to develop and boost a safe reliable and efficient payments system in the country, the apex bank had in conjunction with the Bankers’ Committee, launched the BVN project in February 2014.

The project has however, witnessed a snail speed in its implementation.

How Sterling Bank won ICT Award, by NTA

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

customers that have submitted their BVN and those that have not, NIBSS in turn will render consolidated returns to the CBN on a weekly basis, starting from October 1, 2014.

According to Fatokun, the CBN will monitor compliance of the circular and defaulters will be sanctioned.

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

he introduction of Social Lender, a banking solution that grants users access to quick cash via Twitter and Facebook, and its wide acceptance by the target audience, has been ascribed as one of the success factors for the conferment of the Award for the Innovative ICT Banking Product Award on Sterling Bank Plc. Sterling Bank Plc bagged the Award at the Nigerian Telecoms Awards held in Lagos over the weekend.

Speaking at the Award ceremony, the organizers said that the award was given to the lender based on the overwhelming industry recommendation of very competent officers, coupled with the independent research and assessment of the sector.

The Award is coming barely two months after the lender bagged the “Most Innovative Bank” at the BusinessDay Awards in recognition of the introduction of Kia-Kia product by the Bank.

Social lender, a Corporate Social Responsibility (CSR) initiative of the bank, is a peer-topeer quick cash solution using Twitter and Facebook, two of the most important social media platforms popular among young Nigerian. The lender launched it over two months

Sterling Bank, MD, Yemi Adeola

ago and overtime it has received over 3000 requests out of which more than 2000 have been processed. The solution developed

by BINCOM ICT, a partner organization on the project, has bridged the gap of immediate fund access for social media users.

The citation reads: “We confirm that Sterling Bank’s Social Lender has been awarded the Innovative ICT Banking Product of the Year. Your product ‘Social Lender’ is a unique solution with corresponding huge impact on the society. It is on this grounds that the Body of Assessors, Panel of Judges and Board of Trustees of Nigerian Telecom Awards find your Bank worthy of this noble and worthy recognition”

BUSINESS | ISSUE OF THE WEEK 33

Sanctity of Truth

Monday, September 22, 2014

Qatar National Bank stirs consolidation in Africa Abdulwahab Isa Abuja

T

he meltdown in the global economy that almost got the European economy and by extension Africa prostrate a few years ago, also offered a glimmer of opportunities to the African economy to be prosperous.

In the financial service industry for instance, the sector continues to experience huge growth as government and industry regulators of various African countries strive to meet financial inclusion targets.

The banking sector in Africa, which is basking in the euphoria of its vast population and huge market has enjoyed unhindered consolidation.

Divestment of equity holding, selloffs and making new business inroads did foist symbiotic relationship among financial service stakeholders in Africa as they strive to deepen their consolidation.

Attraction to Nigeria The Nigerian banking industry has and is still witnessing revolutionary metamorphosis in recent years. The regulator-induced restructuring of the sector leading to re-capitalisation of the banks in 2004 and the recent merger of 2009, have combined to reposition the Nigerian banking market, making it a huge attraction to other big players.

Top on the list of Africa banks’ descent that have formed convenient alliance with Nigerian banks include the Standard Bank of South Africa. The SB of South Africa has had a robust relationship and business partnership with Nigerian banks, which dates back to 1965 when it merged with the Bank of West Africa to commence operation in Nigeria. The name was then changed to Standard Bank of West Africa. Nigeria is a very attractive and fast-growing market for Standard Chartered Bank.

Four years after the merger, Standard Bank Nigeria was incorporated locally to take over the business in Nigeria. In 1971, 13 per cent of the share capital was placed with Nigerian investors. The end of the civil war saw a major economic upturn and as a consequence, the military government sought to increase local control of the retail-banking sector, hence the bank’s investment in Standard Bank Nigeria (renamed First Bank of Nigeria in 1979) was reduced to 38 per cent. Standard Chartered remained a shareholder of First Bank of Nigeria until 1996.

The Standard Chartered re-entered Nigeria in 1999 and opened to customers on September 15, 1999, as a wholly-owned subsidiary of Standard Chartered Bank Plc, headquartered in United Kingdom. It now has 40 branches located in major cities across the country, offering a wide range of products and services. It employs over 800 staff and sees Nigeria as a growth centre.

A financial service provider of South Africa origin- Vunani Limited, a Financial Services Group whose shares are listed on Johannesburg Stock Exchange (JSE) earlier this year affirmed its fate in Nigeria market potential.

Vunani Limited signed a cooperation agreement to jointly originate and execute cross-border transactions across their various business units

MD, EcoBank, Jibril Aku

CBN Governor, Godwin Emefiele

throughout Africa with West African and Southern African markets being key targets.

Speaking in Lagos at the occasion of signing the agreement, Managing Director, Vunani Limited, Butana Khoza, said: “It is fitting that Vunani is signing this cooperation agreement in the week that Nigeria is deemed to have become the largest economy on the African continent. The process to find a strong strategic partner in Nigeria started more than a year ago and we are extremely excited to have found a good strategic partner in BGL Plc. “Vunani has aspirations to be a strong pan-African financial services group and that would be very difficult to achieve without access to Africa’s largest economy. It is also apt that BGL has similar aspirations and our cooperation will not be limited to South African and Nigerian transactions.”

Qatar National Bank To aptly demonstrate consolidation sweeping across Africa banking landscape, Nedbank Group Limited (NED), the South African lender controlled by Old Mutual Plc, last week, concluded deals that would see to the purchase of 23.5 per cent of EcoBank Transnational plc.

Qatar National Bank QSC, the largest Arab lender, bought a 12.5 per cent stake in Ecobank for $290 million this month marking its first acquisition in sub-Saharan Africa.

Prior to consummation of deals, Nedbank had formed an alliance with Ecobank in 2008 and has the option until November 25 of gaining a 20 per cent stake, a move that would give it access to bank customers in over 30 African countries.

“If we exercise our rights, Nedbank would become the single largest shareholder in Ecobank,” Mike Brown, Chief Executive Officer of the Johannesburg-based lender, boasted recently, adding that “Nedbank and Ecobank are committed to our alliance.”

The fusion of two or more banks as one entity eliminates weak capital base. A big consolidated bank not only leverages on huge capital base, which it can deploy to finance costly projects, its contribution to the economy remains unquantifiable South Africa’s government pension fund administrator, the Public Investment Corp., owns 18.2 per cent of Ecobank, with QNB now the secondlargest shareholder, according to data compiled byBloomberg.

Ecobank, Africa’s most geographically diverse bank, said it was discussing a strategic partnership with QNB to expand its reach in North Africa and the Middle East.

“We believe QNB would likely outmuscle Nedbank,” Jaap Meijer, an analyst at Arqaam Capital in Dubai, said in a September 5 note. “We only see QNB’s stake in Ecobank as a first step as we believe QNB has ample capital to go after the full acquisition of Ecobank. This could result in a battle for Ecobank.”

Nedbank has until late November to convert a $285 million loan it made to Ecobank in 2011 into an equity holding and then increase the stake to as much as 20 per cent. The banks’ alliance is aimed at corporate customers, assisting businesses with cross-border transactions. Nedbank and Ecobank

MD, Standard Chartered Bank, Bola Adesola

Non-executive Chairman, Nedbank Group Limited, Dr Reuel Jethro Khoza

also work together on African financing projects “This is a great asset and a good support as it opens for us horizons in North Africa and in countries in the circle of influence of QNB,” as the Doha-based bank is known, Richard Uku, a spokesman for Ecobank, said of the deal recently in an interview.

Advantages of consolidation The on-going consolidations and fusion among Africa banks will improve healthiness of the banking sector and, ultimately, translate to financial stability and sustainable development.

The fusion of two or more banks as one entity eliminates weak capital base. A big consolidated bank not only leverage on huge capital base which it can deploy to finance costly projects, its contribution to the economy remains unquantifiable.

34

business | STOCK WATCH

EARNINGS Investment in backward integration will spur earnings

Chris Ugwu

Sanctity of Truth

Monday, September 22, 2014

Flour Mills: Investors bank on strategic expansion of the company’s revenue.

Speaking on why the $250 million Golden Sugar Company did not generate revenue for the financial year, Gbadedo said: ‘’For such a huge investment, you will not expect to make profit in the first year, but we have positioned it for growth. We just commissioned the plant and the first year was difficult, we could not produce enough.

“Again, we commenced production last year and the sugar that was selling at N9,000 dropped to N5,500 but we are strong enough to stay in that business and we are looking beyond what we have today. We are currently at 48 per cent capacity utilisation and in the years to come, it will add proper value to all shareholders,” he assured.

The Flour Mills boss added that as part of the company’s strategy to align with the government’s backward integration initiative, the company has also acquired 500 hectares of land in Niger state for rice cultivation.

T

he manufacturing industry in Nigeria has continued to grapple with several challenges, which include erratic supply of public electricity, weak logistics, insecurity and other high costs of operations.

These have made the operating environment difficult, especially to the real sector of the economy.

This condition, according to analysts, has already started manifesting in the financial results of companies, as most of them are holding tightly to the rope to stay afloat.

For Flour Mills Nigeria Plc, the story is not different as the increase in the price of wheat at the international level combined with high interest costs, have impacted on Nigeria’s Bellwether Fast Moving Consumer Goods (FMCG) company. Flour Mills Nigeria was however, able to grow its business with improved profit margin.

Notwithstanding the difficult business environment, the company has sustained its performance through innovative and proactive responses to market dynamics and competitive pressures.

Market watchers attributed the relative patronage on the stock to high liquidity of the shares due to high level of confidence investors have had on the stock for some time now.

They also aligned the patronage to the growth prospect of FMN in the medium-term, following new investments in agro-allied business.

The group has continued to retain the top spot among the industry competitors listed on the food products sub-sector of consumer goods sector in terms of share price, which analysts believe will be sustained in the next few years.

However, the company got its share of the recent lull in the market, following massive profit-taking that saw the market lose considerable chunk of investors’ wealth as the share price, which closed at N84.75 per share in October 30, 2013, stood at N62.30 at the close of business last Friday. This indicated a decrease of N22.45 or 36 per cent year to date.

Corporate profile Flour Mills of Nigeria Plc was incorporated in September 1960 as a private limited liability company, and commenced operations in 1962 with an installed capacity of 600 metric tons per day. The company was converted to a public limited liability company in 1978, and its shares were subsequently listed on The Nigerian Stock Exchange (NSE).

In its 54-year history, Flour Mills has remained at the forefront of wheat milling in Nigeria. The company’s flagship brand, Golden Penny, remains one of the best known and the preferred brands amongst bakers, confectioneries and con-

Gbededo

sumers in Nigeria. Flour Mills has invested over N25billion in milling infrastructure over the last seven years, to maintain its competitive advantage. Today, Flour Mills has a rated milling capacity of over 8,000 metric tons per day, making it one of the largest single site mills in the world.

Backward integration Last year saw FMN refocusing with significant investments in backward integrated programmes, which centred on some value chains that have strategic links with its existing business.

The Group Managing Director of the company, Paul Gbededo at a press briefing recently said that the company has made strategic investment in large scale commercial farming to support its food processing units with locally produced raw materials. He added that the company cultivates 10,000 hectares of sugar at Sunti Golden Sugar Estate to feed the sugar refinery.

Gbededo said that the Kaboji Farms Limited in Niger State contain maize and soya beans to feed milling operations, including the cassava, which provides quality cassava flour.

“Agro Allied Limited grows 5,000 hectares of cassava on land purchased at Shao, Kwara State to feed Thai Farm’s Cassava Mill in Ososa. Agric Palm Limited has 3,000 hectare in Edo State to support the group’s edible oil refineries at ROM Oil

Share price movement of FMN Plc 2013 Oct 31

N84.75

Nov 30

N89.20

Dec 31

N87.00

2014 Jan 31

N88.00

Feb 28

N78.00

Mar 31

N65.00

Apr

N68.43

May 30

N76.65

Jun 30

N78.00

Jul 31

N73.96

Aug 30

N68.11

Sept 19

N62.30

Mill. Agro Allied Farms Sunti Limited grows a 4,500 hectare rice farm along the Niger River basin. This project will add to the rice production at Sunti Farm to complement the backward integration of our rice milling operations,” he said.

Gbededo explained that these major investments were made in the food and agro- allied business, which, according to him, constitutes 95 per cent

Financials Flour Mills posted revenue of N246 billion, a growth of nine per cent over the N226 billion recorded during the comparable period of last year.

The company’s profit before tax grew by 7.1 per cent to N12.46 billion from the N11.63 billion posted last year, while its profit after tax was up by 17.6 per cent to N10.47 billion, from N8.9 billion.

However, the group had a difficult and challenging year.

It posted 24.4 per cent drop in pre-tax profits for the full-year ended March 31, 2014.

In a filing with the NSE, its full-year profits dropped to N8.22 billion, compared with N10.88 billion the previous year, representing a decline of 24.4 per cent.

Gross earnings however, climbed to N332.14 billion from N301.94 billion in the same period last year.

The company said the group performance suffered largely due to the slower than expected contribution from the start up operations of Golden Sugar Company Limited, FMN’s wholly owned sugar production subsidiaries.

Flour Mills of Nigeria Plc had posted a turnover of N225.6 billion, indicating a growth of 23 per cent during the 2013 year ended March 31. The company's profit after tax grew by 6.6 per cent to N8.75 billion from the N8.2 billion posted in 2012.

The group income had also grown 7 per cent to reach N301.9 billion, while group’s profit after tax dropped slightly by 0.5 per cent, from N7.76 billion to N7.73 billion primarily due to rising input cost and increased spending on sale and distribution network.

Looking forward Addressing shareholders at the 54th annual general meeting (AGM) held in Lagos recently,

Chairman, FMN, Mr. George Coumantaros, who announced that the meeting will be his last, as his son, John Coumantaros takes over from him as the new Chairman of the group, assured the shareholders that John will continue to lead the company on the path of profitability. He thanked them for their support throughout his tenure as the Chairman of the group.

He noted that the group would continue to expand its production capacity and facilities.

“I would like to reassure our esteemed shareholders that our group’s prospects are promising and bright. Indeed, the ‘future is golden’! We shall strive to step up investment in our core food business and, in line with our strategic business thrust, expand our production capacity and facilities, and increase our productivity and efficiency to enable us to deliver top line and bottom line growth,” he said.

Coumantaros added that the group would also focus on innovation and develop new products for the market, while improving its sales, merchandising, redistribution personnel and activities.

Analysts’ perception According to analysts at FBN Capital, although a gross margin expansion of 872bps to 21.0 per cent more than offset a 5 per cent y/y decline in sales to N92.0billion and led to gross profit advancing by 63 per cent y/y, a combination of factors led to the pre-tax loss.

These factors according to the analysts, include a burgeoning interest expense, which expanded by 117 per cent y/y to N5.5billion, a 71 per cent y/y decline in other operating income, a 25 per cent y/y reduction in investment income and a 5 per cent y/y rise in opex.

The analysts noted that despite the sequential weakness on the PBT q/q, the PAT of N132million was an improvement over the post-tax loss of -N352million reported in Q3 2014, which was driven by an unusually high tax charge of 90 per cent during the quarter.

“Pending management’s comments on the results, we note that increased leverage taken to fund FMN’s expansion drive and new business ventures such as sugar, pasta, edible oils and rice was the major factor behind the elevated interest expense, which was also a major feature in its Q3 2014 (endDec) results. This drove the rise in FMN’s debt-to-capital ratio from around 61 per cent in FY 2013 (end-Mar) to about 65 per cent in FY 2014.

“We note that its average interest expense also increased to around 11.5 per cent from 9.3 per cent in the prior year.

We believe that a 3 per cent q/q decline in wheat prices during the Q4 (end-Mar) quarter was an important factor behind the significant gross margin expansion in Q4,” they said.

BUSINESS | CAPITAL MARKET REPORT

Sanctity of Truth

Monday, September 22, 2014

35

Five most capitalized stocks@ Sept 19, 2014 Dangote

N3.8tn

Cement Plc Nigerian

N1.3tn

Breweries Plc Guaranty

N852bn

Trust Bank Plc Nestle

N832.2bn

Nigeria Plc Zenith Bank

N773.9bn

Plc

NSE trading floor

Stock market bounces back CONFIDENCE Nigerian local bourse closes on positive path as bargain hunters take position

Chris Ugwu

I

nvestors on the Nigerian equity market got respite last week as the jinx of market depression that had persisted for four consecutive weeks fizzled away following the resurgence of the bulls.

Analysts had forecast that the uncertainty surrounding the market following massive sell off that most blue chip companies witnessed in the previous weeks will be over and that stability would return last week.

The bulls strengthened their grip on the equities despite market fluctuations witnessed throughout the week that saw both forces struggling for dominance.

Low sentiment had pervaded the market given the current upset in the financial market arising from insecurities; build up to 2015 elections, Ebola crisis and recapitalisation fever, among others, which have kept bargain hunters at bay.

Week begins on positive note Activities in the Nigerian equities market began the week last Monday in a high momentum, as the bulls regained their grip on the market activities, causing bargain hunters to jostle for shares of blue chip companies.

Analysts said the resurgent of the bulls to sustain market rally after four weeks of loss was an indication that confidence is returning to market in spite of the security challenges that had posed threat to investment in the country.

The key market performance measures, the NSE All Share Index and market

capitalisation, rose by 0.23 per cent, as market sentiments extended gaining streak following investors’ high optimism.

Consequently, the All-Share Index gained 96.06 basis points or 0.23 per cent to close at 40,769.00 as against 40,672.94 recorded at the weekend, while the market capitalisation of equities appreciated

by N31 billion or 0.23 per cent, as market sentiment returned to green territory.

Transaction disclosure Alongside trading activities, Qatar National Bank SAQ acquired additional holdings of 11.0 per cent (2,047,877,260 ordinary shares) in Ecobank Transnational Incorporated, thus increasing QNB’s total stake in ETI to 23.5 per cent.

The acquisition is expected to be completed three days from the date hereof.

Meanwhile, a turnover of 2.2 billion shares worth N47.7 billion in 4,084 deals was recorded in the day’s trading.

Banking sub-sector of the financial services sector was the most active (measured by turnover volume); with 2.09 billion shares worth N46.5 billion exchanged by investors in 1,127 deals.

Volume in the sub-sector was largely driven by activities in the shares of ETI Plc and GTB Plc. Also, other financial subsector, boosted by activity in the shares of FBNH Plc followed with a turnover of 23.3 million shares valued at N186 million in 708 deals.

Indigenous Petroleum exploration company, Seplat Petroleum, advanced by 0.75 per cent to close at N675.00 per share. It was trailed by cement manufacturing giant, Dangote Cement with a gain of 2.27 per cent to close at N219.99, while industry competitors, Lafarge Cement WAPCO and Ashaka Cement, strengthened by 1.27 per cent and 3.03 per cent to close, respectively, at N120.00 and N33.29 per share.

Petroleum marketer, Forte

Oil, slid 5 per cent to close at N223.82 per share, while industry player, Oando Plc, lost 0.87 per cent to close at N24.99 per share. Also, Banking Stalwarts, Guaranty Trust Bank and Zenith Bank, shed 3.05 per cent and 1.63 per cent to close, respectively, at N28.26 and N24.20 per share respectively.

Oil & Gas drags equities down However, contrary to the expectations that confidence would to the equities market, the bear resurfaced last Tuesday after a day gain in the local bourse following 0.29 per cent drop in both market performance indices, reflecting profit taking, amid drop in investment activities.

The key benchmark indices maintained negative trajectory to close in the red, as activities in the shares of Forte Oil Nigeria and Con Oil Nigeria, dragged down the equity market.

Trading activities on the floor of Exchange had the previous day closed in the green following positive sentiments of investors.

Consequently, the All-Share Index dipped 120.85 basis points or 0.29 per cent to close at 40,648.15 as against 40,769.00 recorded the previous day, while the market capitalisation of equities depreciated by N40 billion or 0.29 per cent, as market sentiment remained red.

Meanwhile, a turnover of 519.9 million shares worth N4.2 billion in 4,573 deals was recorded in the day’s trading.

Just as in the previous day, the banking sub-sector of the financial services sector was the most active (measured by turnover volume); with 343.1 million shares worth N2.5 billion exchanged by investors in 1,348 deals.

Volume in the banking sub-sector was largely driven by activities in the shares of Diamond Bank Plc and Zenith Bank Plc. Also, insurance services sub sector, boosted by activities in the shares of AIICO In-

surance Plc, followed with a turnover of 87.5 million shares valued at N73.4 million in 176 deals.

The number of gainers at the close of trading session was 24, while decliners closed at 27.

Okomu Oil Plc led the gainers’ table with 73 kobo to close at N33.98 per share, while Beta Glass Nigeria Plc followed with a gain of 55 kobo to close at N19.40. Champion Breweries Plc added 41 kobo to close at N8.70 per share.

On the other hand, Forte Oil Plc led the price losers’ table, dropping N2.82 to close at N221.00 per share, while Con oil Nigeria Plc followed with a loss of N2.65 to close at N50.51. Cadbury Nigeria Plc shed N2.51 per share to close at N52.50.

Stocks advance The bullish last Wednesday staged a comeback at the NSE. The northward movement recorded in the equities market was on the back of transactions on the share prices of two leading cement companies - Lafarge Wapco and Dangote Cement Company Plc. The key benchmark indices returned to positive trajectory to close in the green, taking supports majorly from highly capitalised stocks, which were particularly driven cement companies.

Trading activities on the floor of Exchange had the previous day closed in the red following negative sentiment of investors.

Specifically, the All-Share Index dipped 81.34 basis points or 0.2 per cent to close at 40,729.49 as against 40,648.15 recorded the previous day, while the market capitalisation of equities appreciated

by N27 billion or 0.2 per cent, as market sentiment turned positive.

Meanwhile, a turnover of 195.9 million shares worth N2.8 billion in 4,876 deals was recorded in the day’s trading.

The banking sub-sector of

the financial services sector was the most active (measured by turnover volume); with 77.6 million shares worth N1.1 billion exchanged by investors in 1,466 deals.

Volume in the banking subsector was largely driven by activities in the shares of Zenith Bank Plc and GT Bank Plc. Seplat, Dangcem deflate activities Market fluctuation that had pervaded the equities market persisted last Thursday, as the bears depleted market after a day gain in the local bourse following 0.11 per cent drop in both market performance indices.

The key benchmark indices returned to negative route to close in the red, as activities in the shares of Seplat and Dangote Cement further dragged down the equity market.

Trading activities on the floor of Exchange had the previous day closed in the green territory following positive sentiment of investors.

Consequently, the All-Share Index dipped 46.04 basis points or 0.11 per cent, to close at 40,683.45 as against 40,729.49 recorded the previous, while the market capitalisation of equities depreciated by N15 billion or 0.11 per cent, as market sentiment remained negative.

Meanwhile, a turnover of 273.4 million shares worth N2.7 billion in 4,188 deals was recorded in the day’s trading.

Just as in the previous day, the banking sub-sector of the financial services sector was the most active (measured by turnover volume); with 110.07 million shares worth N1.04 billion exchanged by investors in 1,235 deals.

Volume in the banking sub-sector was largely driven by activities in the shares of Diamond Bank Plc and Unity Bank Plc. Also, insurance services sub sector, boosted by activity in the shares of Cornerstone Insurance Plc, followed with a turnover of 41.8 million shares valued at N25.4 million in 173 deals.

Bulls return The bullish sentiment returned last Friday to overshadow the losses made by investors within the week.

36

GROWTH Inter-personal relationship with clients remains a great factor for business development

T

he Managing Director/ Chief Executive Officer, Consolidated Hallmark Insurance Plc, Mr Eddie Efekoha, has restated the importance of the customer to any business, saying that they remain an important asset to any organisation.

Efekoha, who doubles as the Deputy Chairman, Nigerian Insurers Association, in a statement, advised his colleagues in the underwriting business to always match their words with actions while delivering services to their clients.

He said: “In spite of the almost universal acceptance of the importance of customers, the actions of most of us don’t always match the talk.

“Who are customers? Customers are people who need our assistance. They are not an interruption to your job. They are the reason you have a job or are in business. All the value your business is ever going to have, all the money it will ever make, has to come from customers at some point.

“To increase the value of a business, you either have to get

Insurance

Sanctity of Truth

Monday, September 22, 2014

Customers, important assets to any company –CHI boss some more customers or you have to change the behaviours of the ones you already have, or both.”

He pointed out that customers buy what they need so they could get what they want, stressing that the customers does not need a solution but results.

He described service as a valuable action, deed or effort performed to satisfy a need or fulfill a demand, saying that Client Service (or Customer Service) therefore referred to all interactions between a customer and a product /service provider before, during and after the sale or service is consummated.

According to him, “Businesses thrive when they have customers or clients, and businesses survive and expand when they have good client service. Good client or customer service is the hallmark of respected businesses.

“Defining good client service is largely a matter of placing the customer first and making business decisions that allow the company to respond to market changes and provide customers with the best service possible.

“Good client service is a combination of well-trained employees and an efficient system. Bad client service will entail rework, loss of potential business, higher contacts per transaction, staff turnover, brand damage, among others.”

On the role of the National Insurance Commission in client service delivery, he advised the commission to always ensure that only fit and proper operators were licensed and remain in practice and also en-

sure that insurance business is conducted in accordance with sound principles and best practice in service delivery to clients.

On the way forward, he said, among other things, that underwriters should take full advantage of technology, social media and focusing on people; process; product and price as these would help insurance operators raise public confidence and boost their client base.

He added operators also

needed to sustain training and retraining of their workforce to keep them up-to-date, adding that they should also think like a customer so they could provide better services.

While calling for massive public enlightenment and partnership with the media and sustenance of the industry’s customer complaints bureau, he also canvassed the need for creation of accessibility through telephones, emails and websites.

‘Why insurers should drive awareness through Nollywood’

A

s underwriters in the country searches for more channels to take insurance awareness to Nigerians especially those at the grassroots, a stakeholder and an insurance journalist, Mr Nnamdi Duru, has advised them to take advantage of the fast growing and well accepted movie industry otherwise known as Nollywood for that purpose.

Duru, who gave the advice at the maiden Insurance Industry Joint Media Retreat for journalists covering the insurance beat in Abeokuta, Ogun State, recently, said that such partnership could drive the desired insurance culture and deepen insurance penetration in the country.

According to him, since the traditional media, including print, television and radio have not taken the industry where it should be, the industry should engage other media to drive the desired change in culture in favour of insurance.

Duru who is also a qualified insurance professional, stated his conviction that Nollywood could fill the media gap and bring back insurance to the consciousness of Nigerians generally.

He noted that members of Nollywood have the greatest followership in the country today, saying they could be mobilised to work for the industry.

“The insurance industry should partner Nollywood to drive the dersired insurance culture in Nigeria. Entertain-

ers have great number of fans among Nigerian children, youths, middle class and the elite. These are the target groups for the insurance industry,” he said.

According to him, operators in the insurance industry should start imagining the level of insurance awareness, acceptance and penetration they could achieve with little sponsorship of Nollywood works and programmes.

He said: “Many Nigerians watch home videos daily and these have continued to shape their attitudes and behaviours.

If the insurance industry should invest in Nollywood, sponsor the works of movie writers, producers and directors to make them add insurance contents in their movies, it will go a long way to shape the attitude of their audience in favour of insurance.

“Also, if we consider the followership of stand up comedians like Ali Baba, Gandoki, Gordons and Basket Mouth or show promoter, Opa Williams, one can imagine the impact, should insurers partner these entertainers, co-sponsor their shows and events or provide insurance cover for their audience, artists and equipment used for their shows.

Any claim paid in this regard would go a long way to drive insurance awareness and penetration across Nigeria because they will announce, advertise and even dramatise claims settlement before you know it.”

L-R: Vice President, Abuja Chamber of Commerce, Industry, Mines and Agriculture, Mr Solomon Nyagba and DirectorGeneral, Mr Joe Wenegieme, at a news conference for the 9th Abuja International Trade Fair, in Abuja.

Sovereign Trust moves to reposition as market leader T he Managing Director/ Chief Executive Officer, Sovereign Trust Insurance Plc, Mr Wale Onaolapo, has described the newly-created Strategy/Corporate Planning unit of the company as a tool for improved performance that will strategically position the company as a market leader.

He said that the new department would ensure more profitability by increasing the company’s market share in the insurance industry and consequently impact on the fortunes of its esteemed shareholders.

The underwriting firm, in a statement, disclosed that the new department would be under the leadership of the hitherto Head of Business Development, Mr Lanre Ojuola.

The statement added that the development was in line with the maximisation of Human Resources Policy of the company aimed at utilising the potentials of its dynamic workforce in delivering optimal value to all stakeholders of the company.

It said until recently, the strategy component of the company was under the watch of the Head of ICT & Strategy, Mr. Lekan Oguntunde, who now has the sole responsibility of discharging Information Communication Technology solutions for the company’s operations.

The statement added that with the recent addition, the organisation now had six strategic departments reporting directly to the Managing Director/CEO namely: Internal Audit, Risk Management & Compliance, Corporate Communications & Brand Management, Information & Communications Technology, Human Resources and Strategy & Corporate Planning Departments respectively.

As part of the recent reorganisation, the former Head of Retail Business, Emmanuel Anikibe moves to head the Business Development Department while Victoria Eze, Senior Manager in the Brokers’ Department takes over as the

new Head of Retail Business.

The Executive Director/Chief Operating Officer, Samuel Ogbodu will provide oversight supervision for the Northern Operations headed by Mohammed Alfa.

Lanre Ojuola, a 1994 graduate of Insurance from University of Lagos, has over 18 years work experience in both the insurance and banking sectors of the Nigerian economy.

He was at one time the Personal Assistant to the current Managing Director, Mr. Wale Onaolapo, before moving to Universal Trust Bank Limited and Equitorial Trust Bank Limited respectively. He contributed immensely to the operations of both organisations in different capacities.

Over the years, he has garnered valuable experience in insurance underwriting, banking operations, inspection and helped pioneered the set-up of the Internal Control Department of one of the leading financial institutions in the country.

BUSINESS | INSURANCE 37

Sanctity of Truth

Monday, September 22, 2014

Insurance growth: Nigeria ranked 7th RATING Several factors have continued to hinder full exploitation of insurance potential in the country Sunday Ojeme

Africa is the second-highest ranked African country on the index behind Nigeria, ranked 7th.

South Africa is considered a high-growth, out performer across all sectors – motor insurance, property insurance, liability insurance and overall.

Compared to last year’s report, both South Africa and

China are newcomers to the high-growth out performer status.

South Africa’s insurance industry (excluding health insurance) raked in just under $10 billion in the 2013 (R110 billion) – the highest ranking African country, ahead of Morocco ($1.6 billion) and Nigeria ($1.1 billion) – with a five year cumulative combined ratio of

87.6 per cent.

Growth is determined based on five year annualized premium growth. While countries with five year loss ratios lower than the average of their income peers, or combined ratios below the global combined ratio, are classified as out performers.

South Africa’s property and casualty (P&C) insurance in-

T

he Nigerian insurance industry has been ranked 7th in growth projection with a combined ratio of 80.2 per cent far below South Africa’s 87.6 per cent, according to the annual Insurance Risk Study by Aon Benfield.

The 2014 Insurance Risk Study includes a “country opportunity index” which ranks the desirability of the top 50 markets based on a mix of profitability, growth potential, and political environment.

The index identifies countries with a desirable mix of profitability, growth potential and a relatively stable political environment.

Saudi Arabia tops the group’s list with a five year cumulative ratio of 91.5 per cent and a five-year annualised growth projection of 8.1 per cent.

The report says South Africa ranks 10th overall on the opportunity index with a ratio of 87.6 per cent, and a growth projection of 4.4 per cent. South

T

housands of people every week are being caught lying on car insurance applications in a bid to get cheaper premiums.

New figures from industry body the Association of British Insurers (ABI) show that in 2013, 180,000 applicants were detected giving policy providers false information or withholding vital details in order to get cheaper premiums.

The organisation claimed the overall cost of insurance fraud adds £50 to every household's annual bill for cover.

Among the thousands of fraudulent applications made last year, one customer with a really poor credit rating tried to buy cover under an assumed name, while another failed to disclose a number of previous claims and an unspent motoring conviction which had resulted in a three-year prison sentence.

Aidan Kerr, the ABI's head of fraud, said: "Insurers know that innocent mistakes and oversights happen. But they are also aware that some people think being less than honest is a way to get cheaper cover, when the way to get the best deal is to play it straight."

Kerr added that initiatives such as the Insurance Fraud Register, which lets companies pool data about known fraudsters, meant that the industry was now able to detect much more of this type of crime.

George Robbins, at fraud consultant BAE Systems Applied Intelligence, said: "Like all forms of financial crime, motor insurance fraud impacts on both consumers and businesses.

L-R: Chief Executive Officer, Etisalat Nigeria, Matthew Willsher; Etisalat Distribution (South-South), Gabriel Iduseri and Head, Sales and Distribution, Etisalat Nigeria, Oluwatosin Olulana, at a dinner to celebrate Etisalat’s top distribution partners in Lagos

Lying motorists drive up car insurance cost

"When the cost of owning and using cars is continuing to increase, fraudulent insurance applications and fraudulent claims attempts on policies drive up premiums."

Robbins added: "This impacts the budgets of millions of honest motorists."

New figures show that although the cost of motor insurance has fallen back from the highs seen two or three years ago, cover can still be very expensive, especially for young drivers. According to research from price-compar-

ison service Confused.com, the typical annual cost of a comprehensive policy in the UK is £579.

But for 17-year-olds, a year's cover costs just under £2,000 on average Last month Zurich published a study which showed that one in five customers admitted having made deliberate or accidental errors on their applications at some point in the past.

The firm said that half of this group said they had given false details or withheld information in order to get

cheaper premiums or avoid being turned down.

Confused.com's Gemma Stanbury said: 'While it's easy to think you will never be caught out, insurance companies are getting savvier, and lying is a type of fraud. "If you have had your insurance cancelled due to fraud, the cost of any future policy will be higher. You also run the risk of incurring an IN10 conviction (driving without insurance), which can increase premiums and limit the number of providers available to you."

Insurers should embrace last mile advertising opportunities

I

nvestment in digital marketing solutions and utilizing data and analytics are critical for insurance companies to strategically target consumers interested in purchasing insurance-related products, according to a whitepaper, "Navigating the Last Mile: Insurance," released by the Local Search Association (LSA).

The report, which cites the latest research by LSA and other organizations on insurance-related advertising trends, overviews the growing number of ways that consumers are seeking,

discovering and considering insurance-related products in the "last mile" of their path to purchase and demonstrates the importance of local insurance providers embracing the full range of solutions in Last Mile Advertising in order to succeed in the marketplace.

Last Mile Advertising describes locally targeted ads or messages delivered close to the point of purchase that help facilitate consumer actions like calls, clicks and store visits. Research shows that individuals experiencing life events or changes, such as be-

coming engaged, buying a new home, expecting a first child or moving to a new address, are most likely "ready-to-buy" insurance-related products and entering the last mile.

Individuals experiencing life events or changes are most likely "ready-to-buy" insurance-related products.

"Local insurance providers have a significant opportunity to secure business from the millions of U.S. adults who purchase insurance-related products each year," said Neg Norton, president, Local Search Association.

dustry is turning a tidy profit, with R110 billion in premiums collected in 2013, and a payout ratio of 87.6 per cent.

Aon Benfield, the global reinsurance intermediary, revealed that the P&C industry, namely insurance on homes, cars, and businesses, achieved a global underwriting profit last year.

The global insurance and reinsurance premium reached a record $4.9 trillion (R54 trillion) in 2013 – a 0.9 per cent increase over 2012, the group said – driven primarily by growth in the P&C and health insurance segments.

The top 50 countries across the globe accounted for $1.32 trillion of the total, led by the US which pocketed $531.8 billion in 2013.

The P&C business across the top 50 markets had a combined ratio of 99.1 per cent in 2013, according to Aon Benfield.

The combined ratio is an indicator used by insurers to measure how well they are performing. A ratio under 100 per cent means that insurers are underwriting a profit – a ratio over 100 per cent indicates a company is paying out more than it is receiving in premiums.

NCRIB gets PR manager

T

he management of Nigerian Council of Registered Insurance Brokers (NCRIB) has approved the appointment of Mr Oladele Ayeleso as the Council’s Public Relations and Communication Manager.

Ayeleso is expected to use his wealth of knowledge of the industry to further boost the image of the council and that of the entire insurance industry.

He is a graduate of Statistics from the Polytechnic, Ibadan.

He has attended several trainings and seminars both within and beyond the shores of Nigeria on reportage of insurance and pension industry with over thirteen years of working experience, spanning diverse functions of reporting and teaching.

Prior to his career in journalism, Ayeleso had worked as a teacher where he rose to the level of a Supervisor in Bofel Group of School, Ibadan. He joined African Newspaper of Nigeria (Publisher of Nigerian Tribune titles) in 2005 and rose to the level of Chief Correspondent before his exit in 2012.

He later joined West Africa Business News as Insurance Editor where he worked until his recent appointment. He is a prominent member of National Association of Insurance Correspondents (NAICO). He was elected as the Treasurer of the association for a second term running.

It is expected that his appointment will further enhance the positive perception of the public about the functions and importance of insurance brokers.

38 business | FINANCIAL MARKET NEWS

Sanctity of Truth

Monday, September 22, 2014

FMDQ Daily Quotations List

19-Sep-14

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

Bonds

Price

FGN Bonds Issuer

Rating/Agency

NA

NA

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

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

TOTAL OUTSTANDING VALUE

4,591.19

TOTAL MARKET CAPITALISATION

4,637.60

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

NA

***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

Maturity Date

TTM (Yrs)

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

0.02 0.59 1.91 2.60 2.85 2.95 3.69 4.78 5.09 7.36 9.48 14.19 14.67 15.17 15.84 19.83

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

10.78 11.04 11.68 11.55 11.58 11.58 11.60 11.61 11.73 12.20 12.31 12.52 12.52 12.52 12.33 12.34

4.90 10.76 11.60 11.49 11.52 11.52 11.50 11.53 11.64 12.15 12.26 12.48 12.48 12.46 12.28 12.30

99.95 96.06 102.25 107.75 95.86 94.55 97.32 115.70 82.24 119.90 110.40 116.19 99.75 72.95 83.90 98.55

100.10 96.21 102.40 107.90 96.01 94.70 97.62 116.00 82.54 120.20 110.70 116.49 100.05 73.25 84.20 98.85

#

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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

978.35 24.56 3.30 112.22 116.70 66.49

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

0.12 0.68 1.29 2.22 2.58 2.80

1.00 2.63 2.27 2.00 1.00 1.00

11.76 13.66 13.50 13.66 12.59 12.59

98.68 91.41 104.64 100.98 99.37 96.85

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

0.07 0.95 0.55 1.07 1.08 2.58 1.63 3.28 2.25 4.04 2.45 2.45 2.83 2.90 5.18 3.06 3.58 6.19 6.28 3.76 3.80

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

14.06 15.45 14.27 15.52 14.54 17.18 12.48 13.38 13.45 12.61 12.61 16.39 12.59 12.58 12.75 14.32 12.60 13.07 14.04 13.04 13.55

99.94 97.47 99.28 98.94 101.50 85.48 102.17 101.55 101.13 104.29 104.12 95.56 104.38 107.06 106.43 101.02 105.89 101.75 103.87 104.26 104.21

1,301.62

TOTAL MARKET CAPITALISATION

1,284.98

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

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

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

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

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

6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00 14.96 11.13 27.00 17.28 80.00 27.51 11.40 87.00 5.00 4.78 4.79

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds

483.24 487.34

A+/Agusto; AA/GCR

LAFARGE WAPCO

11.50 LAFARGE WAPCO 7-OCT 2014

Aa/Agusto

GTB µ NGC

17.00 NGC 31-DEC-2014

Nil

10.00 UPDC 17-AUG-2015

Bbb-/Agusto A-/Agusto

*UPDC

BB+/GCR

*CHELLARAMS

*FLOURMILLS

A+/Agusto; A-/GCR A-/Agusto

NAHCO

BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR BBB/GCR A+/Agusto; A-/GCR

12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016

FSDH

A/GCR

13.50 GUARANTY TRUST 18-DEC-2014

UBA

13.00 UBA 30-SEP-2017

*C & I LEASING *DANA#

18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

UBA

14.00 UBA II 22-SEP-2018

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

*DANA NAHCO

15.75 LA CASERA 18-OCT-2018 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020

07-Oct-11

11.50

11.80

07-Oct-14

0.05

1.00

11.78

99.96

18-Dec-09

13.50

13.17

18-Dec-14

0.25

5.21

15.94

99.29

01-Apr-10

17.00

2.00

31-Dec-14

0.28

8.71

19.48

99.15

17-Aug-10

10.00

3.61

17-Aug-15

0.67

4.88

15.91

96.69

09-Dec-10

12.00

13.62

09-Dec-15

0.74

1.00

12.03

100.57

06-Jan-11

14.00

0.60

06-Jan-16

0.82

2.63

13.65

100.92

29-Sep-11

13.00

15.00

29-Sep-16

2.03

1.00

12.70

100.51

25-Oct-13

14.25

5.53

25-Oct-16

2.10

1.34

13.03

102.15

30-Sep-10

13.00

20.00

30-Sep-17

3.03

1.00

12.58

101.02

30-Nov-12

18.00

0.73

30-Nov-17

1.85

1.88

13.49

108.50

09-Apr-11

16.00

7.20

09-Apr-18

1.80

3.48

15.07

101.66

09-Sep-11

18.00

2.90

09-Sep-18

2.22

5.20

16.86

102.05

09-Sep-11

16.00

0.80

09-Sep-18

2.22

5.06

16.72

101.66

22-Sep-11

14.00

35.00

22-Sep-18

4.01

1.35

12.96

103.18

18-Oct-13

15.75

2.70

18-Oct-18

2.08

2.29

13.98

103.41

17-Feb-12

17.00

0.41

17-Feb-19

2.41

6.11

17.73

98.85

01-Apr-14

16.00

4.50

01-Apr-19

3.28

2.16

13.75

105.74

14-Nov-13

15.25

2.05

14-Nov-20

6.15

2.76

14.81

101.66

11-Feb-18

3.40

1.00

12.59

93.53

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

141.62

TOTAL MARKET CAPITALISATION

143.61

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

12.00 11.22 Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

4.83

4.69

110.38

111.20

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.03

3.84

103.81

104.49

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.16

5.05

108.51

109.33

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,613.48

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

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.04

3.04

111.13

111.13

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.30

4.30

105.04

105.04

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.57

6.57

101.72

101.72

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.59

8.05

94.75

96.36

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

5.97

5.67

100.10

101.20

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

8.69

8.69

105.75

105.75

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.03

6.03

100.85

100.85

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

8.94

8.69

99.27

100.19

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.44

7.44

103.01

103.01

B-/Fitch; B/S&P

AFREN PLC III

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

7.70

7.70

94.77

94.77

B-/Fitch; B/S&P

ACCESS BANK PLC II

9.25/6M USD LIBOR+7.677 JUN 24, 2021

24-Jun-14

9.25

400.00

24-Jun-21

8.63

8.48

103.63

104.38

B-/Fitch; B/S&P

FIRST BANK LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

7.52

7.52

101.63

101.63

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.41

8.15

100.87

102.22

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 4,860.16

**Treasury Bills DTM 13 20 27 34 41 48 55 62

FIXINGS Maturity 2-Oct-14 9-Oct-14 16-Oct-14 23-Oct-14 30-Oct-14 6-Nov-14 13-Nov-14 20-Nov-14

Bid Discount (%) 10.45 10.15 10.45 10.35 10.50 10.55 10.60 10.30

Offer Discount (%) 10.20 9.90 10.20 10.10 10.25 10.30 10.35 10.05

Bid Yield (%) 10.49 10.21 10.53 10.45 10.63 10.70 10.77 10.48

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 11.0000 12.4644 13.2812 14.2049

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.50

Tenor

Bid ($/N)

Offer ($/N)

O/N

10.71

Spot 7D 14D 1M 2M 3M

163.20 163.43 163.69 164.31 165.45 166.58

163.30 163.66 164.00 164.91 166.50 168.18

Tenor Call 1M

REPO

Rate (%) 10.58 12.02

***LCRM

0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

20-Apr-12 06-Jul-12

TOTAL OUTSTANDING VALUE

0.00/16.50 0.00/16.50

116.70 66.49

20-Apr-17 06-Jul-17

2.58 2.80

1.00 1.00

12.59 12.59

99.37 96.85

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

0.07 0.95 0.55 1.07 1.08 2.58 1.63 3.28 2.25 4.04 2.45 2.45 2.83 2.90 5.18 3.06 3.58 6.19 6.28 3.76 3.80

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

14.06 15.45 14.27 15.52 14.54 17.18 12.48 13.38 13.45 12.61 12.61 16.39 12.59 12.58 12.75 14.32 12.60 13.07 14.04 13.04 13.55

99.94 97.47 99.28 98.94 101.50 85.48 102.17 101.55 101.13 104.29 104.12 95.56 104.38 107.06 106.43 101.02 105.89 101.75 103.87 104.26 104.21

1,301.62

TOTAL MARKET CAPITALISATION

1,284.98

Sub-National Bonds A-/GCR A+/Agusto A/Agusto A-/Agusto A+/Agusto A+/Agusto;September A+/GCR Monday, A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A-/Agusto; BBB+/DataPro A/Agusto A-/GCR Sanctity of Truth

NIGER KADUNA *EBONYI *BENUE *IMO 22, LAGOS 2014 *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS KOGI *EKITI *NASARAWA

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

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

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

6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00 14.96 11.13 27.00 17.28 80.00 27.51 11.40 87.00 5.00 4.78 4.79

BUSINESS |FINANCIAL MARKET NEWS 39

Recapitalisation’ll attract global investors, says Onyema CROWDED MARKET Fifty to100 firms would be ideal for the nation’s local bourse

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporateby Bonds Stories Chris Ugwu A+/Agusto; AA/GCR

LAFARGE WAPCO

T

Aa/Agusto

he Nigerian GTB Exµ Stock NGC Nil change (NSE) has deBbb-/Agusto *UPDC scribed the *FLOURMILLS efforts to A-/Agusto BB+/GCR recapitalise *CHELLARAMS the stock A+/Agusto; A-/GCR NAHCO broking firms as a muchA-/Agusto needed tonic thatFSDH would atA/GCR UBA tract global investors and BBB-/GCR *C & I LEASING boost professionalism # in the BBB+/DataPro†; BB+/GCR *DANA system.

A-/DataPro†; BB-/GCR *TOWER# # Chief Executive Officer of AAA/DataPro†; A+/GCR *TOWER A/Agusto; A/GCR Onyema, NSE, Oscar UBA said this Bbb+/Agusto; BBB+/GCR *LA CASERA while addressing participants # BB+/GCR *CHELLARAMS atBBB-/DataPro†; a conference organised by the BBB/GCR *DANA Association of Issuing Houses A+/Agusto; A-/GCR NAHCO

of Nigeria in Lagos.

He noted that the market is crowded by low capitalised firms, stressing that 50-100 firms would be ideal for the nation’s local bourse.

In a paper he presented entitled ‘The Benefits of a Consolidated Stock Broking Industry’, Onyema said that the recapitali11.50 LAFARGE WAPCO 7-OCT 2014 sation would make cross-border 13.50 GUARANTY TRUST 18-DEC-2014 mentorship to become stronger, 17.00 NGC 31-DEC-2014 adding it would also attract 10.00that UPDC 17-AUG-2015 12.00investors FLOURMILLS 9-DEC-2015 global from foreign 14.00 CHELLARAMS countries to raise06-JAN-2016 money in the 13.00 NAHCO 29-SEP-2016 Nigerian capital market.

14.25 FSDH 25-OCT-2016 Onyema said: “It is the low 13.00 UBA 30-SEP-2017 capitalised brokers that commit 18.00 C&I LEASING 30-NOV-2017 mostMPR+7.00 of theDANA infractions 9-APR-2018 because theyMPR+7.00 are notTOWER robust enough to do 9-SEP-2018 MPR+5.25This TOWER is 9-SEP-2018 business. economically 14.00 UBA IIdue 22-SEP-2018 non-viable to its low scale LA CASERA 18-OCT-2018 and 15.75 pricing power. We benchMPR+5.00 CHELLARAMS II 17-FEB-2019 mark ourselves against other 16.00 DANA II 1-APR-2019 Exchanges and we discovered 15.25 NAHCO II 14-NOV-2020

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

profit, listed with a global and local shareholder base.

“We want strong partnerships and co-operation with leading global exchange operators, operationally efficient, competitive, with robust infra483.24 structure and systems. We also 487.34 want to see frequent product

we have low market concentration, low retail penetration and low institutional flows because of fragmented broker as against other markets that have the participation of global players.”

He noted that there was need to place a high barrier to entry, adding that the minimum requirement would increase 07-Oct-11 professionalism and 11.50 make the 18-Dec-09 13.50 market01-Apr-10 to become globally com17.00 petitive.

17-Aug-10 10.00 The09-Dec-10 NSE boss explained that 12.00 06-Jan-11currently14.00 the market operates 29-Sep-11 13.00 in structurally low profitabil14.25 ity and25-Oct-13 operating margin with 30-Sep-10 13.00 high commission and pricing 30-Nov-12 18.00 mechanism.

09-Apr-11 16.00 “We looked at 15 other Ex09-Sep-11 18.00 changes and found 16.00 out that 09-Sep-11 22-Sep-11 is not competitive 14.00 our market 18-Oct-13 15.75 to do in pricing and we have 17-Feb-12 something about it. 17.00 We want 01-Apr-14 16.00 to be fully demutualized, for14-Nov-13 15.25

Asset Manager tasks investors on Exchange Traded Fund 11.80

07-Oct-14

0.05

1.00

11.78

99.96

13.17

18-Dec-14

0.25

5.21

15.94

99.29

2.00

31-Dec-14

0.28

8.71

19.48

99.15

3.61

17-Aug-15

0.67

4.88

15.91

96.69

13.62

09-Dec-15

0.74

1.00

12.03

100.57

0.60

06-Jan-16

0.82

2.63

13.65

100.92

15.00

29-Sep-16

2.03

1.00

12.70

100.51

C

25-Oct-16 2.10 hief Executive Officer, 20.00 30-Sep-17 3.03 Stanbic IBTC Asset Man0.73 30-Nov-17 1.85 agement Limited, (SIA7.20 09-Apr-18 1.80 ML) has 2.90 Mr. Olumide 09-Sep-18 Oyetan, 2.22 called on investors to 2.22 take 0.80 09-Sep-18 35.00 22-Sep-18 4.01N1 advantage of its on-going 2.70 18-Oct-18 2.08for billion initial public offer 0.41 2.41 the Stanbic17-Feb-19 IBTC Exchange 4.50 01-Apr-19 3.28 Traded Fund (Stanbic IBTC 2.05 14-Nov-20 6.15 ETF 30).

141.62 He urged investors to lever143.61 age on low cost of the instrument that will deliver the required market return from the 11-Feb-13 10.20 12.00 11-Feb-18 3.40 NSE 12.00 30 Index of the Nigerian Nigeria, and partnered with one Stock 11.22 Exchange (NSE).

Oyetan, who made this of the world’s most prestigious Outstanding Value while speaking at the known hotel brands, Worldwide, Issue Date HiltonCoupon (%) Maturity Date Bid Yield (%) ($mm) Forum in Lagos, to leverage this demand. The Investors’ proceeds of this offer will be said that application has been used to07-Oct-11 fund the development of made to the 28-Jan-21 NSE to admit the 6.75 500.00 4.83 two new Transcorp Hilton ho- fund in its Daily Official List 12-Jul-13 5.13and the 500.00 would be 12-Jul-18 and listed for4.03 sectels, one in Ikoyi, Lagos, second in Port Harcourt, with ondary market transactions 12-Jul-13 6.38 500.00 12-Jul-23 5.16 both due for completion in 2017. as soon as the necessary regu“We are delighted to be able 1,500.00 latory approvals are secured.

“The Stanbic IBTC ETF 30 to offer the Nigerian public the 1,613.48 opportunity to participate in is designed to track the perour future success. This offer formance of the NSE 30 in01-Feb-11 11.50 450.00 which comprises 01-Feb-16 the3.04top reiterates our commitment to dex, 19-May-11 7.50 500.00 companies19-May-16 listed on the4.30 NSE creating sustainable value for 30 25-Jul-12 7.25 350.00 25-Jul-17 6.57 in terms of market capitalisaall stakeholders.

6.88unique 300.00 and liquidity 02-May-18 . The index 8.59 tion THP09-May-13 will leverage its 08-Nov-13 6.00 400.00 08-Nov-18 5.97 as the flagship benchpartnership with the Hilton serves 08-Apr-12 10.25 300.00 8.69 brand and strong customer base mark for the08-Apr-19 stock market, as 22-Apr-14 6.25 500.00 22-Apr-19 6.03 to provide an excellent guest exit represents 92 per cent of the 21-May-14 8.75 200.00 21-May-19 8.94 perience and achieve 8.25 superior NSE’s market capitalisation 07-Aug-13 300.00 07-Aug-20 7.44 returns from the new6.63assets,” and the price 09-Dec-13 360.00 the will replicate 09-Dec-20 7.70 he said. and of8.63the 24-Jun-14 9.25 400.00 yield performance 24-Jun-21 5.53

Transcorp Hotels Board endorses N8bn IPO

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

TOTAL OUTSTANDING VALUE he Board of directors TOTAL MARKET CAPITALISATION

T

of Transcorp Hotels Plc (THP) at Rating/Agency its completion board Issuer meeting held weekend in LaFGN Eurobonds gos, approved the company’s plans to conduct an Initial BB-/Fitch; B+/S&P Public Offering (IPO) and list BB-/Fitch; FGN its shares on the Nigerian BB-/S&P Stock BB-/Fitch;Exchange (NSE).

BB-/S&P THP will offer 800,000,000 orTOTAL OUTSTANDING VALUE dinary shares of 50 kobo each atTOTAL N10.00 per share valued at N8 MARKET CAPITALISATION billion for subscription.

Corporate Eurobonds of the offer The proceeds B/Fitch; AFREN PLC I its will beB-/S&P used to part-finance B+/Fitch; B+/S&Pprojects,GTBANK PLC I expansion specifically B+/S&P ACCESS BANK PLC the construction of two new B/Fitch; B/S&P FIDELITY BANK PLC flagship hotels in Ikoyi, Lagos B+/Fitch; B+/S&P GTBANK and Port Harcourt, as partPLC of its B/Fitch PLC II broader expansionAFREN plans.

B+/Fitch; BB-/S&P ZENITH BANK PLC THP is the hospitality subB/Fitch; B/S&P DIAMOND BANK PLC sidiary of Transnational B-/Fitch; B/S&P FIRST BANK PLC Corporation of Nigeria Plc B-/Fitch; B/S&P AFREN PLC III (Transcorp Plc) and owns and B-/Fitch; B/S&P ACCESS BANK PLC II B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

operates the Transcorp Hilton Abuja and the Transcorp Hotels Calabar.

Description The company’s vision is to be the premier hospitality company in Africa,6.75 creating maxiJAN 28, 2021 mum and sustainable value 5.13 JUL 2018 as to for stakeholders, as12, well build Africa's choice hospital6.38 JUL 12, 2023 ity assets underpinned by excellence entrepreneurship and execution.

The Managing Director and CEO of THP, Mr. Valentine Ozig01, 2016 bo, speaking at11.50 theFEBcompletion MAY 19, 2016hospiboard meeting,7.50 said the JUL 25, 2017 tality industry 7.25 is experiencing 6.88 MAYwith 09, 2018major significant growth, 6.00 NOV 08, 2018 demand for expanded capacity APR 08, 2019 and enhanced 10.25 quality and ser6.25 APR 22, 2019 vice.

8.75 May 21, 2019 “THP is ideally positioned, as 8.25 AUG 07, 2020 the existing owner of09, the 6.63 DEC 2020 largest number rooms 9.25/6Mof USDhotel LIBOR+7.677 JUN 24,in 2021

innovation including new asset classes and data services,” he said.

Onyema noted that the Exchange wants to drive volume, attract Initial Public Offering (IPOs) and need to scale up and reduce pricing to drive more flows into the system.

1.34 13.03 102.15 index,” he said.

1.00 12.58 101.02 SIAML is currently offering 1.88 13.49 108.50 103.48 million units of the Fund 15.07 101.66 at 5.20 N100 each at par to inves16.86 102.05 tors. for the 5.06 Application 16.72 101.66offer 1.35 12.96 103.18 opened on Monday , 15 Septem2.292014, and 13.98 103.41 ber is scheduled to 6.11 17.73 98.85 close on Wednesday , October 13.75 105.74 15,2.16 2014.

2.76 14.81 101.66 The offer, which has received approval from the Securities and Exchange Commission (SEC) and the NSE, will have subscription 1.00 a minimum 12.59 93.53 of 10,000 units and multiples of 5,000 units thereafter.

Oyetan explained that investors could invest Offer Yield (%) Bid Price or dispose Offer Price off units of the Fund by buying or Pricesin & Yields selling the secondary market or through creation and 4.69 110.38 111.20 redemption of the units in the primary market.

3.84 103.81 He added 104.49 that the creation and redemption of 108.51 5.05 the Fund could only be109.33 done by the Fund Manager when it is in excess of 500,000 units.

He said that units of the Fund could be created or re3.04 111.13in kind111.13 deemed either or cash 105.04 of both.

105.04 or4.30 combination 6.57 101.72 of the underly101.72 Listing some 8.05benefits, 94.75 96.36 boss ing the SIAML 5.67 100.10investing 101.20 explained that in the 8.69 105.75 105.75 Fund represents an efficient 6.03 100.85 100.85 means of acquiring all of the 8.69 99.27 100.19 securities included in the NSE 7.44 103.01 103.01 307.70 index, compared with invest94.77 94.77 ing in each individual stock.

8.48 103.63 104.38

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

7.52

7.52

101.63

101.63

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

8.41

8.15

100.87

102.22

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 4,860.16

19-Sep-14

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

FMDQ OTC PLC Terms of Use and Disclaimer Statement on www.fmdqotc.com. **Treasury Bills DTM Maturity Bid Discount (%) 13 2-Oct-14 10.45 20 9-Oct-14 10.15 FGN Bonds 27 16-Oct-14 10.45 34 23-Oct-14 10.35 Issuer Description Rating/Agency 41 30-Oct-14 10.50 48 6-Nov-14 10.55 9.25 28-SEP-2014 55 13-Nov-14 10.60 62 20-Nov-14 10.30 4.00 23-APR-2015 69 27-Nov-14 10.80 13.05 16-AUG-2016 76 4-Dec-14 10.10 15.10 27-APR-2017 83 11-Dec-14 10.70 9.85 27-JUL-2017 97 25-Dec-14 10.30 9.35 31-AUG-2017 104 1-Jan-15 10.90 10.70 30-MAY-2018 111 8-Jan-15 10.45 16.00 29-JUN-2019 118 15-Jan-15 10.90 NA NA 7.00 23-OCT-2019 125 22-Jan-15 10.40 16.39 27-JAN-2022 132 29-Jan-15 10.90 14.20 14-MAR-2024 139 5-Feb-15 10.40 153 19-Feb-15 10.30 15.00 28-NOV-2028 167 5-Mar-15 10.50 12.49 22-MAY-2029 202 9-Apr-15 10.20 8.50 20-NOV-2029 216 23-Apr-15 10.25 10.00 23-JUL-2030 230 7-May-15 10.10 12.1493 18-JUL-2034 321 6-Aug-15 10.20 TOTAL OUTSTANDING VALUE 3-Sep-15 349 10.15 *from the Amortising bonds, the average life is calculated and not the duration #

FIXINGS

Offer Discount (%) 10.20 9.90 10.20 10.10 Issue 10.25Date 10.30 28-Sep-07 10.35 10.05 23-Apr-10 10.55 16-Aug-13 9.85 27-Apr-12 10.45 27-Jul-07 10.05 31-Aug-07 10.65 30-May-08 10.20 29-Jun-12 10.65 23-Oct-09 10.15 27-Jan-12 10.65 14-Mar-14 10.15 10.05 28-Nov-08 10.25 22-May-09 9.95 20-Nov-09 10.00 23-Jul-10 9.85 18-Jul-14 9.95 9.90

Bid Yield (%) 10.49 10.21 10.53 10.45 Coupon 10.63 (%) 10.70 9.25 10.77 10.48 4.00 11.03 13.05 10.32 15.10 10.97 9.85 10.59 9.35 11.25 10.70 10.79 16.00 11.30 7.00 10.78 16.39 11.35 14.20 10.83 10.76 15.00 11.03 12.49 10.81 8.50 10.91 10.00 10.79 12.1493 11.21 11.24

Bonds

TOTAL MARKET CAPITALISATION

Issuer

Agency Bonds AMCON FMBN

Modified Duration Buckets

NA

***LCRM

<3 3<5 >5 CAPITALISATION Market

TOTAL OUTSTANDING VALUE TOTAL MARKET

Description

Issue Date

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 Porfolio Total Outstanding 17.25 FMB IIMarket 03-APR-2017 Value(Bn) 0.00/16.00 LCRM 09-DEC-2016 Volume(Bn) 0.00/16.50 LCRM II 20-APR-2017 1,030.09 983.07 0.00/16.50 LCRM III 06-JUL-2017

1,125.85 806.94 2,962.88

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

Rate (%) 11.0000 12.4644 Maturity 13.2812 Date 14.2049

100.00 28-Sep-14 535.00 23-Apr-15 530.27 NITTY 16-Aug-16 452.80 27-Apr-17 Tenor Rate (%) 20.00 27-Jul-17 1M 10.4872 100.00 31-Aug-17 2M 10.5757 300.00 30-May-18 3M 10.7828 351.30 29-Jun-19 6M 10.9274 233.90 23-Oct-19 9M 10.9705 600.00 27-Jan-22 12M 11.2601 281.35 14-Mar-24 75.00 28-Nov-28 150.00 NIFEX 22-May-29 200.00 20-Nov-29 Current Price ($/N) 591.57 23-Jul-30 BID($/N) 163.8725 70.00 18-Jul-34 OFFER ($/N)

4,591.19

163.9725

Tenor

Rate (%)

OBB

10.50

O/N

10.71

TTM (Yrs) REPO Tenor 0.02 Call 1M0.59 3M1.91 6M2.60

Bid Yield (%) Rate (%) 10.78 10.58 12.02 11.04 12.79 11.68 13.58 11.55

Foreign Exchange (Spot & Forwards) Tenor Spot 7D Yield Offer 14D (%) 1M 2M4.90 3M 10.76 6M 11.60 1Y 11.49

2.85 11.58 11.52 2.95 11.58 11.52 3.69 11.60 11.50 :Benchmarks 4.78 11.61 11.53 * :Amortising Bond 5.09 11.73 11.64 µ :Convertible Bond 7.36Management Corporation 12.20 12.15 AMCON: Asset of Nigeria 9.48 12.31 12.26 FGN: Federal Government of Nigeria FMBN: Federal Nigeria 14.19Mortgage Bank of 12.52 12.48 IFC: International 14.67 Finance Corporation 12.52 12.48 LCRM: Local Contractors Receivables Management 15.17 12.52 12.46 NAHCO: Nigerian Aviation Handling Company 15.84 12.33 12.28 O/N: Overnight 19.83 12.34 12.30 NOTE:

UPDC: UAC Property Development Company WAPCO:West Africa Portland Cement Company

Bid ($/N) 163.20 163.43 Bid Price 163.69 164.31 99.95 165.45 166.58 96.06 170.26 102.25 177.70 107.75

Offer ($/N)

Price

163.30 163.66

Offer 164.00Price 164.91 100.10 166.50 168.18 96.21 173.63 102.40 185.63 107.90

95.86 96.01 94.55 94.70 97.32 97.62 NA :Not Applicable 115.70 116.00 # :Floating Rate Bond 82.24 ***: Deferred coupon bonds82.54 119.90 120.20 110.40expired 110.70 †: Bond rating 116.19 116.49 99.75 100.05 72.95 73.25 NGC: Nigeria-German Company 83.90 84.20 UBA: United Bank for Africa 98.55 98.85

4,637.60

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

Rating/Agency

Money Market

NIBOR

951.30 872.92 2,807.29

Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN BOND INDEX

28-Dec-11 24-May-10 Weighting by 03-Apr-12 Outstanding Vol 09-Dec-11 20-Apr-12 35.02 06-Jul-12

33.89 31.09 100.00

0.00 0.00 Weighting

by Mkt 17.25 Value 0.00/16.00 0.00/16.50 34.77 0.00/16.50

38.00 27.23 100.00

978.35 24.56 3.30 Bucket Weighting 112.22 116.70 0.35 66.49

0.34 0.31 1,284.98 1.00

1,301.62

Maturity Date

31-Oct-14 24-May-15 % Exposure_ 03-Apr-17 Mod_Duration 09-Dec-16 20-Apr-17 16.01 06-Jul-17

34.19 49.80 100.00

Avg. Life/TTM (Yrs)

0.12 0.68 Implied1.29 Yield 2.22 2.58 11.61 2.80

12.03 12.32 12.11

# Risk Premium (%)

1.00 2.63 Implied 2.27 Portfolio2.00 Price 1.00 119.0100 1.00

134.8681 102.8648 119.3635

Valuation Yield (%) 11.76 13.66 13.50 INDEX 13.66 12.59 1,130.35 12.59

1,142.01 1,200.00 1,133.83

Indicative Price 98.68 91.41 YTD Return 104.64 (%) 100.98 99.37 13.0352 96.85

14.2012 20.0001 13.3826

Sub-National Bonds A-/GCR A+/Agusto A/Agusto A-/Agusto A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR

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

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

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

14.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00

6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00

15-Oct-14 31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18

0.07 0.95 0.55 1.07 1.08 2.58 1.63 3.28 2.25 4.04

3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00

14.06 15.45 14.27 15.52 14.54 17.18 12.48 13.38 13.45 12.61

99.94 97.47 99.28 98.94 101.50 85.48 102.17 101.55 101.13 104.29

Daily Summary as of 19/09/2014

Printed 19/09/2014 15:33:16.016

40 business | CAPITAL MARKET Daily Summary (Bonds)

Sanctity of Truth

Daily Summary as of 19/09/2014 Printed 19/09/2014 15:33:16.016

Monday, September 22, 2014

No Debt Trading Activity

The Nigerian Stock Market Exchange as at September 19, 2014 Daily Summary (Equities)

Daily Summary (Equities)

Activity Summary on Board EQTY

AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Activity Summary on Board EQTY Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 22 51 27 100

Current Price 0.51 34.50 37.50

Quantity Traded 3,234,111 656,793 384,326 4,275,230

Value Traded 1,649,609.40 22,184,812.59 15,011,641.46 38,846,063.45

Symbol LIVESTOCK

No. of Deals 17 17

Current Price 2.92

Quantity Traded 462,796 462,796

Value Traded 1,367,692.60 1,367,692.60

4,738,026

40,213,756.05

Quantity Traded 291,273 3,830 23,717,862 850,392 24,863,357

Value Traded 393,060.36 14,400.80 139,524,567.42 48,440,746.92 188,372,775.50

24,863,357

188,372,775.50

AGRICULTURE Totals CONGLOMERATES Daily Summary as of 19/09/2014 Diversified Industries Printed 19/09/2014 15:33:16.016 A.G. LEVENTIS NIGERIA PLC.

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

117 Symbol AGLEVENT CHELLARAM TRANSCORP UACN

Daily Summary

No. of Deals 16 2 239 72 (Equities) 329

CONGLOMERATES Totals Activity Summary on Board EQTY

CONSTRUCTION/REAL ESTATE Published by The Nigerian Stock Exchange © Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Current Price 1.32 3.95 5.87 57.00

329

Page Quantity Traded 367,420 367,420

HEALTHCARE Pharmaceuticals NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals Daily Summary as of 19/09/2014 IT Services Printed 19/09/2014 15:33:16.016 COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. IT Services Totals

1 of 13 Value Traded 362,841.13 362,841.13

No. of Deals 20 20

Current Price 0.97

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

Symbol JBERGER

No. of Deals 28 28

Current Price 64.00

Quantity Traded 343,700 343,700

Value Traded 23,025,942.79 23,025,942.79

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

Symbol UAC-PROP

No. of Deals 31 31

Current Price 14.55

Quantity Traded 848,198 848,198

Value Traded 12,410,188.05 12,410,188.05

Real Estate Investment Trusts (REITs) UPDC REAL ESTATE INVESTMENT TRUST Real Estate Investment Trusts (REITs) Totals

Symbol UPDCREIT

No. of Deals 1 1

Current Price 9.13

Quantity Traded 100 100

Value Traded 950.00 950.00

1,559,418

35,799,921.97

Current Price 9.00 175.00 29.00 2.46 179.00 5.12

Quantity Traded 109,452 511,302 1,655,407 21,500 833,523 364,762

Value Traded 998,529.40 89,485,091.81 46,710,519.22 50,310.00 148,913,293.95 1,933,198.50

Page Quantity Traded 3,495,946

2 of 13 Value Traded 288,090,942.88

CONSUMER Daily Summary as ofGOODS 19/09/2014 Beverages--Brewers/Distillers Printed 19/09/2014 15:33:16.016 CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. JOS INT. BREWERIES PLC. NIGERIAN BREW. PLC. PREMIER BREWERIES PLC

Activity Summary on Board EQTY

CONSUMER GOODS Published

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

80 Symbol No. of Deals CHAMPION 20 GUINNESS 39 INTBREW 18 JOSBREW 2 Daily Summary (Equities) NB 139 PREMBREW 24

Symbol

No. of Deals 242

Current Price

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

Symbol 7UP

No. of Deals 10 10

Current Price 134.00

Quantity Traded 14,855 14,855

Value Traded 2,090,098.50 2,090,098.50

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

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON NNFM

No. of Deals 33 59 75 36 1 30 2 236

Current Price 6.89 8.10 62.30 4.04 0.50 8.97 21.99

Quantity Traded 545,423 15,106,947 371,382 603,131 100,000 644,668 1,041 17,372,592

Value Traded 3,757,964.47 122,202,321.69 22,031,226.22 2,430,442.94 50,000.00 5,739,336.30 21,846.95 156,233,138.57

Symbol CADBURY NESTLE

No. of Deals 40 28 68

Current Price 52.50 1,050.00

Quantity Traded 869,596 101,240 970,836

Value Traded 45,837,548.75 104,144,828.41 149,982,377.16

Symbol No. of Deals VITAFOAM 11 Daily Summary (Equities) VONO 3 14

Current Price 4.24 1.44

Quantity Traded 136,355 210,000 346,355

Value Traded 567,806.84 298,400.00 866,206.84

Current Price 34.00 50.00

Quantity Traded 283,632 587,692 871,324

Value Traded 9,603,233.32 29,182,870.27 38,786,103.59

23,071,908

636,048,867.54

Current Price 9.59 6.20 19.00 1.95 28.95 2.65 2.17 6.96

Quantity Traded 596,054 10,429,976 1,501,979 4,432,668 38,244,005 26,351,638 11,704,901 55,655,748

Value Traded 5,716,157.86 64,692,244.67 28,602,217.68 8,658,143.69 1,090,564,816.73 69,585,611.42 25,595,355.31 387,719,079.41

Food Products--Diversified CADBURY NIGERIA PLC. Daily Summary as of 19/09/2014 NESTLE NIGERIA PLC. Printed 19/09/2014 15:33:16.016 Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals

Activity Summary on Board EQTY Published

by The Nigerian Stock Exchange © CONSUMER GOODS Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

Page Symbol PZ UNILEVER

No. of Deals 30 43 73

CONSUMER GOODS Totals FINANCIAL SERVICES Banking

Daily Summary as of 19/09/2014 ACCESS BANK PLC. Printed 19/09/2014 15:33:16.016 DIAMOND BANK PLC

ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC

Activity Summary on Board EQTY

FINANCIAL SERVICES Banking UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals Carriers, and Published byInsurance The Nigerian Stock Brokers Exchange © Services

AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC MANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. PRESTIGE ASSURANCE CO. PLC. WAPIC INSURANCE PLC Daily Summary as of Carriers, 19/09/2014 Insurance Brokers and Services Totals Printed 19/09/2014 15:33:16.016 Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services UNION HOMES SAVINGS AND LOANS PLC.

Activity Summary on Board EQTY

FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Mortgage Carriers, Brokers and Services

Mortgage Carriers, Brokers and Services Totals

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC DEAP CAPITAL MANAGEMENT & TRUST PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

643 Symbol No. of Deals ACCESS 17 DIAMONDBNK 75 ETI 91 FIDELITYBK 51 GUARANTY 300 Daily Summary (Equities) SKYEBANK 146 STERLNBANK 350 UBA 212

Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. Published by The Nigerian Stock Exchange ©

of

ICT Telecommunications Services MASS TELECOMMUNICATION INNOVATIONS NIGERIA PLCNigerian Stock Exchange © Published by The Telecommunications Services Totals

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC Activity Summary EQTYPLC CEMENT CO. on OF Board NORTH.NIG.

Symbol AIICO CONTINSURE CORNERST INTENEGINS MANSARD MBENEFIT NEM PRESTIGE WAPIC

No. of Deals 34 13 11 12 9 8 31 2 65 185

Current Price 0.85 0.97 0.50 0.52 2.58 0.54 0.81 0.50 0.72

Quantity TradedPage 1,882,564 554,132 18,076,100 4,010,091 165,245 1,773,012 10,588,505 11,200 8,643,641 45,704,490

Value Traded 4 of 13 1,552,894.75 532,566.72 9,038,053.70 2,095,119.96 426,528.10 957,441.28 8,459,754.79 5,600.00 6,223,727.52 29,291,686.82

Symbol NPFMCRFBK

No. of Deals 8 8

Current Price 0.95

Quantity Traded 367,531 367,531

Value Traded 351,496.05 351,496.05

Symbol UNHOMES

No. of Deals 1

Current Price 0.50

Quantity Traded 1,000

Value Traded 500.00

Symbol

No. of Deals 1

Current Price

Page Quantity Traded 1,000

5 of 13 Value Traded

Symbol AFRIPRUD CUSTODYINS DEAPCAP FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 42 14 2 330 50 1 26 85 550

Current Price 3.10 3.95 0.87 14.22 4.14 0.51 30.62 2.05

2,239

501,680,973

2,803,385,692.67

No. of Deals 1 1

Current Price 1.82

Quantity Traded 1,000 1,000

Value Traded 1,820.00 1,820.00

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER

No. of Deals 6 16 40 8

Current Price 2.10 3.52 65.00 1.40

Quantity Traded 33,200 409,407 980,653 73,500

Value Traded 66,400.00 1,434,600.64 63,725,293.72 106,017.96

Page

6

of

Value Traded 127,439.00 127,439.00

Symbol OMATEK

No. of Deals 1 1

Current Price 0.50

Quantity Traded 24,000 24,000

Value Traded 12,000.00 12,000.00

Symbol CWG NCR

No. of Deals 3 1 4

Current Price 4.80 13.50

Quantity Traded 1,300 38,398 39,698

Value Traded 6,240.00 506,853.60 513,093.60

Daily Summary (Equities) Symbol CHAMS

No. of Deals 4 4

Current Price 0.50

Quantity Traded 1,041,500 1,041,500

Value Traded 520,750.00 520,750.00

Symbol MTI

No. of Deals 2

Current Price 0.50

Quantity Traded 400 Page

7

2

400

20

200.00

1,341,898

1,173,482.60

Quantity Traded 661,641 21,100 26,265 197,923 390,519 2,035,619

Value Traded 145,715,817.41 22,175.00 39,922.80 1,006,220.84 49,098,134.74 210,901,012.62

Symbol CUTIX

No. of Deals 7 7

Current Price 1.92

Quantity Traded 90,115 90,115

Value Traded 169,944.93 169,944.93

Packaging/Containers Published by The Nigerian Exchange © BETA GLASSStock CO PLC.

Symbol BETAGLAS VANLEER

No. of Deals 1 1 2

Current Price 18.85 12.08

Quantity Traded Page 5,500

Value Traded 8 of 13 101,200.00 1,200.00 102,400.00

Toolsas and Daily Summary of Machinery 19/09/2014 NIGERIAN ROPES PLC Printed 19/09/2014 15:33:16.016 Tools and Machinery Totals

Symbol NIGROPES

No. of Deals 3 3

Current Price 7.46

Quantity Traded 1,200 1,200

Value Traded 8,508.00 8,508.00

2,132,534

211,181,865.55

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

Symbol ASHAKACEM

Value Traded 200.00 of 13

Current Price 224.00 1.10 1.60 5.08 127.50

Daily Summary (Equities) BERGER CAP CCNN

100 5,600

192

Daily Summary (Equities) Symbol JAPAULOIL

No. of Deals 26

Current Price 0.50

Quantity Traded 2,752,109

Value Traded 1,376,054.50

Symbol

No. of Deals 26

Current Price

Page Quantity Traded 2,752,109

9 of 13 Value Traded 1,376,054.50

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

Symbol OANDO

No. of Deals 226 226

Current Price 24.00

Quantity Traded 1,858,915 1,858,915

Value Traded 44,669,522.99 44,669,522.99

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 42 35 77 17 1 24 196

Current Price 47.99 3.81 223.89 174.00 56.00 172.53

Quantity Traded 259,829 901,720 225,104 117,585 1,000 127,695 1,632,933

Value Traded 12,432,123.65 3,443,478.29 49,816,608.23 20,461,974.39 53,200.00 21,967,037.39 108,174,421.95

Exploration and Production

Symbol SEPLAT

No. of Deals 57 57

Current Price 640.00

Quantity Traded 707,725 707,725

Value Traded 459,872,057.50 459,872,057.50

6,951,682

614,092,056.94

Quantity Traded 252,913 252,913

Value Traded 244,441.22 244,441.22

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Daily Summary as of 19/09/2014 Exploration and Production Totals Printed 19/09/2014 15:33:16.016 OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Activity Summary on Board EQTY

505

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

10 10

0.97

Symbol REDSTAREX TRANSEXPR

No. of Deals 17 1 18

Current Price 4.53 1.63

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

Symbol IKEJAHOTEL TOURIST

No. of Deals 32 1 33

Current Price 2.15 3.69

Quantity Traded 5,634,112 199,950 5,834,062

Value Traded 12,113,240.80 737,815.50 12,851,056.30

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 8 1 12 21

Current Price 1.41 1.60 4.13

Quantity Traded 53,956 12,000 167,200 233,156

Value Traded 77,508.40 18,240.00 626,366.13 722,114.53

Symbol ABCTRANS

No. of Deals 9 9

Current Price 0.67

Quantity Traded 242,145 242,145

Value Traded 162,932.05 162,932.05

Symbol

No. of Deals 8 38 46

Current Price 2.00 5.05

Quantity Traded 241,791 2,435,399 2,677,190

Value Traded 480,459.84 12,280,028.54 12,760,488.38

No. of Deals 34 34

Current Price 4.90

Quantity Traded 1,330,663 Page 1,330,663

SERVICES Published by The Nigerian Stock Exchange © Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Daily Summary as of 19/09/2014 Road Transportation Printed 19/09/2014 15:33:16.016 ASSOCIATED BUS COMPANY PLC Road Transportation Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Activity Summary onServices Board EQTY Transport-Related Totals

Daily Summary (Equities) AIRSERVICE NAHCO

Symbol CAVERTON

SERVICES Totals

Daily Summary (Equities)

Page Quantity Traded 1,306,074 47,000 1,353,074

10 of 13 Value Traded 5,764,070.60 72,850.00 5,836,920.60

Value Traded 6,385,351.63 11 of 13 6,385,351.63

171

11,923,203

38,963,304.71

4,387

580,256,728

4,635,123,084.30

Quantity Traded 200 200

Value Traded 100.00 100.00

200

100.00

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 1 1

OIL AND GAS Totals

Current Price 0.50

1

Daily Summary as ofTotals 19/09/2014 ASeM Board Printed 19/09/2014 15:33:16.016

Equity Activity Totals

1

200

100.00

4,388

580,256,928

4,635,123,184.30

Daily Summary (ETP) Exchange Traded Fund

Symbol MORISON

Quantity Traded 236,300 236,300

No. of Deals 42 3 2 9 53 180

SERVICES Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Published by The Nigerian Stock Exchange © Support and Logistics Totals

500.00

Value Traded 2,502,037.86 1,419,507.42 2,490.00 378,404,623.60 11,949,174.97 4,413.24 1,856,468.60 508,290,520.42 904,429,236.11

Current Price 0.55

Symbol DANGCEM DNMEYER PAINTCOM PORTPAINT WAPCO

EQTY Board Totals

Quantity Traded 781,136 359,578 3,000 26,518,521 2,894,994 8,487 61,773 252,875,228 283,502,717

No. of Deals 9 9

Value Traded 6,735,472.46 881,050.00 2,152,534.37 5,249,685.00

OIL AND GAS Published by The Nigerian Stockand Exchange © Energy Equipment Services Energy Equipment and Services Totals

Value Traded 5,058,058.33 7,567,854.00 367,528.38 175,185,706.21 1,869,312,773.69

65,891,360.77

Quantity Traded 209,480 102,500 54,138 372,053

OIL AND GAS Energy Equipment and Services JAPAUL OIL &on MARITIME SERVICES PLC Activity Summary Board EQTY

Quantity Traded 519,944 15,135,708 403,218 7,129,396 172,105,235

1,993,729

Symbol COURTVILLE

INDUSTRIAL GOODS Totals

Current Price 9.70 0.50 0.91 24.65

Value Traded 497,232.45 59,996.00 65,889,540.77

Current Price 32.10 8.60 39.00 14.45

GREIF NIGERIA PLC Packaging/Containers Totals

13

Quantity Traded 470,269 25,700 1,992,729

No. of Deals 32 2 13 24

INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC DN MEYER PLC. PAINTS AND COATINGS MANUFACTURES PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals

No. of Deals 40 3 11 199 1,495

Daily Summary (Equities)

Processing Systems CHAMS PLC

Activity Summary on Board Processing Systems TotalsEQTY

Current Price 1.07 2.38

91

Daily Summary as of 19/09/2014 ICT Totals Printed 19/09/2014 15:33:16.016

Symbol UBN UNITYBNK WEMABANK ZENITHBANK

FINANCIAL SERVICES Totals HEALTHCARE Medical Supplies MORISON INDUSTRIES PLC. Medical Supplies Totals

3

No. of Deals 15 5 90

HEALTHCARE Totals

Symbol COSTAIN

CONSTRUCTION/REAL ESTATE Totals

Symbol NEIMETH PHARMDEKO

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

13

Symbol NEWGOLD VETGRIF30

No. of Deals 1 1 2

Current Price 1,940.00 18.66

Quantity Traded Page 19 10 29

Traded13 12Value of 36,860.00 186.60 37,046.60

ETF Board Totals

2

29

37,046.60

ETP Activity Totals

2

29

37,046.60

BUSINESS | INVESTMENT OPPORTUNITIES 41

Sanctity of Truth

Monday, September 22, 2014

Succeeding through stages in business growth

I

n this competitive economy, the marketplace is becoming increasingly hostile, a scenario where only the most innovative survive. The pace of change is mostly being accelerated by technological development, stiff competition and consumers’ demand. Developing an organization that can adapt quickly to change and turn challenges into commercial opportunities is now critical to both the survival and overall business success.

Any business that wants to succeed should be able to provide honest answers to the following questions: (a) How can I grow in this competitive business world? (b) What can I do to maintain innovation and relevance as we grow? (c) Where can I get advice to turn new ideas into business advantage?

Continuous innovation and creativity is the answer to business growth and survival in this 21st century. Entrepreneurs and growing businesses should have better understanding of innovative processes and how these services lead to business advantage.

Most businesses that are doing very well now must have pioneered or adopted some forms of new technologies or innovative business models in time past. These successful businesses have created market leadership through understanding that innovative products and services require innovative business processes to enable them thrive.

There are four stages of business growth and development ranging from starting up to becoming an established business. The key to succeeding is that both the entrepreneur and entire management team should adapt to, encourage and optimize innovations.

Start-up stage Starting a new business could be a challenging task and upfront research and planning is essential. If innovation is built into the heart of a business, it will have better

chances of survival.

• Consultancy: Intellectual property advice is important to establishing the distinctiveness of your products or services and to identify potential competitors.

This will determine the potential value of your business for investor and help you understand how to sell the advantage of your offer to consumers.

•The business plan: This document is more than just an operational plan, it is a chance to communicate the uniqueness of your idea, of your products or services and the business model behind delivering this at a profit, even in light of competition.

•Access to finance: Business financing is critical to getting any business off the ground, to find setting up equipments, office space, prototypes, production, logistics and salaries if you are able to pay them. Too few business ideas have the fund to initialise the business or a clear enough investment case to secure financial backing.

Getting-going stage This critical stage begins once you have finance in place and when you decide to start moving from business plan to commercial transactions.

Delivering innovation requires the right skill set, application of relevant knowledge and observation of due processes.

•Recruitment: Devise reliable strategies to finding the right skills and the best fit with the rest of the team. There are many different approaches and ways to identify talent once you have a clear idea of what you need and what type of team you are trying to create.

•Networking: Contacting specialised trade organisations, relevant business network, chamber of commerce and local universities are a good way to access expertise, research and specialized equipment you do not have.

•Branding and marketing: These are both crucial to developing the right product or service and communicating it convincingly to your target

market. Creative skills will help differentiate your offer from the competition by better understanding the needs of your customers and users.

Growing up stage It signifies expansion and all the requirements that come with it. It requires scaling up operations, recruiting more staff, moving to larger premises and refining internal processes that will increase the overall capacity of the business.

•New product and service Development: These processes must also be refined as a business gets larger. A more sophisticated approach is required to be more efficient and to deliver on bigger and more complex orders.

•Brand development: Developing a brand benefits internally as well as externally.

In addition to building brand loyalty by developing a memorable identity that connects with the values of the customer or supplier, a brand can also galvanize and help employees create a sense of pride.

•Mentoring and coaching: Unarguably this can be a useful way to get an external strategic perspective when often much of senior management’s time is spent in the business rather than the business. Coaching can help to develop new skills and make time to reflect on the overall strategy and direction of the company.

Keeping it going stage This stage is satisfying but yet quite challenging. It involves being constantly relevant in your industry. Reaching your goals and the ambitions for the company is worth celebrating but is not the time to become complacent.

Research must be a continuous process: To maintain industry relevance, all forms of research must be embarked upon including but not limited to traditional technology-led research alongside market research, user research and trend analysis, This is the undisclosed secret the most leading companies

imbibe to beat their competitors.

Investing in research will prevent your offer from becoming obsolete and help exploit new opportunities in the ever changing marketplace.

•Business collaborations: cooperation leads to progress. an excellent way to bolster research, maximise expansion opportunities or share the risk of new developments, collaboration promotes innovation and bring ideas and skills that are new to your business.

•Retaining best talent: The most successful organizations have a tradition of retaining only the best staff, this translates to building an unbeatable team over a period of time.

It also helps to keep valuable corporate knowledge and learning within the company, and stability within the team can help form share goals that can sustain innovation. The role is to catalyze, facilitate and broker the unique partnerships required to enable business realise their full potential through harnessing the benefits of innovation.

Unfortunately most businesses cannot compete in the modern marketplace on the basis of a low-cost, low-skills workforce.

If we are to modernise our economy and create products and processes to gain sustained competitive advantage, we need to capitalised and expand on the creativity and scientific excellence of our world-class higher education institutions, our people and our business.

The challenge is to formulate the environment to support the long-term growth and competitiveness of economy by embedding innovation, design and creativity practices into business.

How to sustain innovative culture in business • Turn dissatisfaction or frustration from customers and employees with an existing product, process or service into a new idea – this approach will stimulate employees’ curiosity and get them developing new ideas.

• Ask your customers or potential customers through

market research what they want and don’t want, customer feedback is critical to keeping your business ahead of the rest.

• Create ambition and challenge employees to be outward looking and question the status quo – management needs to be supportive of this way of thinking.

• Do not let explorations of ideas end prematurely, especially from those who ‘know’ why your idea will not work – they are experts in doing things the way they have always been done.

• Capitalise on your employees by giving them the opportunity to think without constraints. Don’t limit their potential by job roles, and share knowledge – it’s surprising where new innovations may come from.

• Management need to be passionate and have faith in new developments, even if there is no demonstrable track record or experience – confidence breeds success.

• Let competitive threats to your business drive your innovation – convert fear of a competitive product or service into an idea for a new, superior product or service of your own.

• Take advantage of experts outside of your organisation – look beyond customers and supplier and use the knowledge available in universities and research institution to help you innovate.

• Utilise business networks to exchange ideas with other businesses and find potential partners – collaboration can lead to winning solution for both parties.

10. Don’t pay innovation lip service and do it once in the business. Embed innovation into mission statements, employee appraisal systems, resource allocation programmes, and customer and business partner interaction – this will reinforce innovation throughout the organization as a 24/7 activity. Ogbeide, is a business consultant, columnist and MD/CEO of Business Builders Limited. He can be reacted via email excelogbeide@yahoo.com

GLOBAL NEWS

Some consumers say Apple is losing its 'cool' factor H olly Riggle, a 29-year-old white-collar worker from Ohio, is just the kind of everyday customer Apple Inc (AAPL.O) would love to have for its new iPhone 6, which launches on Friday.

But Riggle is sticking to her Android smartphone, calling Apple less "original” than it was under former Chief Executive Officer, Steve Jobs.

She is one of the 16 per cent of respondents in a Reuters/ Ipsos poll who said Apple had become somewhat or much less cool in the last two years.

By comparison, some 11 per cent of respondents said that Android had lost some sheen in the same timeframe. In a similar poll a year ago, 14.3

per cent of 1,379 people surveyed thought Apple had lost its cool image between 2011 and 2012.

While still a juggernaut, with analysts expecting sales of around nine million iPhone 6s in its launch weekend, Apple may be losing some of its shine, according to the poll.

More Americans feel that Apple has lost its "coolness" quotient than has the Android brand, according to the poll, conducted Sept. 8-13 and had a margin of error of 2.9 per cent.

When questioned on how they perceive five popular technology brands - Apple, Android, Microsoft Corp (MSFT.O), Dell Inc [DI.UL] and Hewlett-Packard Co (HPQ.N)

- respondents gave the highest coolness factor rating to the Android brand, which includes devices such as Samsung and others that run on Google Inc's (GOOGL.O) mobile operating software.

About 50 percent said that in the last one to two years, the Android brand had grown cooler, compared with 48 percent who voted for Apple.

Although the poll is based on a limited sample, it reflects how Android products, which tend to be less expensive, have caused Apple to shed some of its buzz.

"Especially when you have competitors who are doing a lot of innovative things themselves and great advertising,

it’s not surprising that Apple doesn't have the same cachet and coolness that it once did," said Kevin Lane Keller, a branding expert and professor at Dartmouth College’s Tuck School of Business.

The mobile phone wars have become a lot like politics, with battling Democrats and Republicans, said Rob Janoff, the designer of the Apple logo and an independent branding and design expert based in Chicago.

"You can't carry that magic forever," Janoff said, but that does not mean consumers should dismiss mature brands. "I think people have to accept that companies that are out there, they age."

Last year when it launched its previous version of the iPhone, Apple sold nine million iPhone 5Ss and 5Cs in the first three days in stores. But drawing a comparison with the iPhone 6 is tricky as sales are based on availability, and Apple has not shared comparable details.

Also, this time, the iPhone is not launching in China on Friday, unlike last time, Shannon Cross, an analyst with Cross Research, explained.

Many customers will need to wait until next month for their new iPhones after Apple logged a record 4 million firstday pre-orders, double the number for the iPhone 5 two years ago.

42 business |INTERVIEW

Sanctity of Truth

Monday, September 22, 2014

Why foreign airlines are scared to Frank Legre is the Senior Vice President (Africa), Air France-KLM. He oversees Africa’s affairs of the second largest airline in the world. In this interview with WOLE SHADARE in Paris after the firm’s “Air France, France is in the Air,” exhibition at the magnificent Grand Palais in the French capital city, he spoke on issues ranging from the decay of infrastructure at virtually all Nigerian airports to the difficulty in partnership with airlines in Nigeria and sundry issues affecting the development of aviation in the country.

Excerpts

There is no technical input to develop manpower in Nigeria such as crew member, ground service, and the engineers.

Sometimes, some airlines, like British Airways, trained some indigenous pilots; do we expect anything of such from Air France?

Not only Air France, we have Air France-KLM together in Nigeria. If you look at ground engineers, we have a team of 12 ground engineers who work on the air plane, not only the airplanes of Air France-KLM, but also other airlines which gives technical assistance.

Out of the ground staff, we have 12 and out of the 12, eleven are Nigerians. We do train our staff, technical staff and I am proud that out of the 12, eleven are Nigerians.

How about the crew, I mean cabin crew and pilots?

Not yet. For the time being, we have only French crew flying into Africa.

We believe it is part of our distinctive mark on board, the French touch. We are not against having Nigerian crew on board, it can happen one day. For the time being, we have to push the French touch on board.

The Nigerian aviation stakeholders are very vibrant. Some complaining that foreign airlines are given too many frequencies. What is your take on it?

Traffic rights are granted to both parties. Air France has got traffic and Nigeria has got traffic right. The question is not why foreign airlines have too many traffic rights; the question is why are Nigerian airlines not flying to Europe. We are really encouraging them. I know they are flying to the UK where there is huge business, yet we don’t have any Nigerian airline flying to Paris. I think it is fair for them to also be on this market. I think it is not about too many traffic rights, but the question is, why didn’t Nigeria take

Legre

advantage of the right they have to also fly to other parts of Europe aside United Kingdom?

You think it is their fault and not yours?

Absolutely. The question is not about us, but about why they are not using their own traffic right.

Why is Air France not partnering with Nigerian domestic carriers? I am talking about code share, especially to routes they are not flying.

It is a very good question. I totally agree with you. In principle, nothing prevents us from having agreements with Nigeria airlines. There are few conditions you have to meet. The first one is technical audit. We can only code share or interline with airline that has the right quality or technical standards. That is very important.

We need also to have good connecting hub. If I remember well, there are two airports in Lagos - international and domestic. So, it is very difficult to make any agreement with domestic airlines because if I want to fly from Enugu to Lagos at the same time, what do I do?

The transfer would be very long to go to international airport. What I think is missing is that infrastructure does not make you to have smooth connections between domestic and international in Lagos.

I remember Air Nigeria is no more. During its days, it used to have shuttle buses so that as you are coming down from your international flight, the shuttle buses take you straight within the two hubs. It did that for some time before the airline collapsed.

It is very difficult to make any agreement with domestic airlines because if I want to fly from Enugu to Lagos at the same time, what do I do?

The transfer would be very long to go to international airport. What I think is missing is that infrastructure does not make you to have smooth connections between domestic and international in Lagos I think that is important. What customers are really willing to have are real connections and we are happy to fly between Air France-KLM, three destinations in Nigeria, those in Lagos, Abuja and Port-Harcourt. We have a good foot print that we have in the key markets of Nigeria.

What does Air France-KLM want the Nigerian government to put in place to ease your operations in the country?

This is a very important question. I need to be very honest with you. I think what would be needed is better infrastructure in the airports, especially in Lagos. I believe that smooth, nice, efficient airport is needed. These are the things you see when you visit a country.

It is very emblematic of a country. I believe that Lagos airport deserves better infrastructure for customers’ image of Nigeria. I believe we can see the first phase of remodelling of the Lagos airport, still, I think there is a long way to go. I can only support the new plan of the new Minister of Aviation to put the airports in good shape including Lagos. For me, Lagos, as a show case of Nigeria, needs to do better. The airport needs to be totally improved on to meet international standard. The first thing you see when you travel to a country is their international airports. I believe that for our customers and the airlines, we could do better in Lagos.

Your new business and first class are world class. It must have cost the airline a fortune Do you like it?

The Business Class is something else.

There is more privacy there. It was really nice. When are we expecting this product on the Nigerian route?

Today, we are flying to Nigeria with A33O. You came on A330 to Paris. It is a very good Business Class, but is not as good as this one. For the time being, the investment is on 44 B777 and that is going to take two years. I think it depends on the type of aircraft. The next fleet after this will be on the A330. It is either we remain with A330 on Nigerian route or reintroduce B777 or as the market is growing.

We can’t conclude this interview without talking about Ebola which is ravaging parts of West Africa. How has it affected your business?

business |INTERVIEW 43

Sanctity of Truth

Monday, September 22, 2014

partner with Nigerian carriers –Legre It is a sad and very important issue. I think it is incumbent on Nigeria to implement good sanitary health control before departure and on that you are doing very well. There is also good temperature control before departure. Provided these measures are being put in place, very strictly, well enforced, we believe we can continue to fly to Nigeria without any doubt.

At the same time, I got positive news about what is being done in Lagos. I really hope that in a very few weeks, we could take Lagos out of the list of the affected countries. It is good to partner with African countries in good and in difficult moments. May be this is a difficult moment.

But your crew said they won’t fly to Nigeria I think Ebola has taken a lot of attention in the media, especially in France, this summer. That created a lot of unrest and some fears among our crew.

We are also counting on support from our partners. We still fly to Nigeria every day; that is our commitment. There are lots of articles and it is frightening for everybody including the cabin crew. We had a lot of explanations to do, a lot of communication that if you are flying to Nigeria or Guinea you are not putting your health at stake. We also have the support of medical experts in Nigeria here in Paris and in Nigeria. We have explained to the crew that their health is not at stake and that nobody showing signs of Ebola can be put on board.

What are the feed backs from your customers concerning your operations to Nigeria?

We have been flying for many years to Nigeria; three destinations - Lagos, Abuja and Port-Harcourt. I met some Air France passenger when I went there. They appreciated our services.

I think what they really like is the distinctive Air France French touch on-board and that really makes a difference and difficult to find in another airline. Our services are well-rated and appreciated by our Nigerian customers. They also appreciate the quality of our hub in Charles de Gaulle, offering a lot of connections and offering services to the United Kingdom.

BIODATA Education:

Legre

Recently, your workers in Nigeria went on strike. They called for pay rise, among other things. Has the matter being resolved?

There has been an agreement. I think it is important to insist on the fact that our ambition is to be an at-

How much has your company invested on these new products?

If I remember well, the total investment is about 500 million Euros on the three cabins for the 44 aircraft. I think 200 million Euros for the economy class; we are changing everything, the seats are very costly, the in- flight entertainment system. It is a huge investment. What I really like is that we are not only looking at the high end customers, we also believe it is important to provide good, efficient seating to all customers including economy class. We are focusing on all customers, not only on the high end, but those travelling on economy and premium economy; you will also enjoy the new cabin on Air France-KLM.

Nigerian airlines do not have the capacity to compete with Air France and some other airlines. Which areas are you looking to assist them in capacity building and partnering with them on code share and interline?

I think the door is open to cooperate with Nigerian airlines. We partner with African airlines, but certain conditions must be met also on technical and safety conditions which are controlled through IOSA audit made by IATA. As long as these checks are met, we can cooperate with them. It is not only that, we also do find conditions for this cooperation. I believe that in Lagos, we have an issue between domestic and international flights because you have two separate airports in Lagos. It is not convenient to make agreement with Nigerian airlines because it is not a seamless product for the customers.

Any plans to expand your operations in Nigeria?

We have no plans to increase the number of destinations. For the time being, we are very happy with the news we have on Lagos, Abuja and Port-Harcourt. No plans to increase the number of destinations we are serving, but at the same time, there may be opportunity to up coach the type of aircraft that is coming to Nigeria.

tractive and fair employee in Nigeria.

We believe we are. And in doing so, we compare ourselves with other foreign airlines and I can assure you that we give a fair and good treatment compared to the competition. This is our ambition and we will remain an attractive employer in Nigeria.

Frank Legre graduated from Ecole des Hautes Etudes Commerciales (HEC) in 1985

Major: International Management Programme (Berkeley, CA and ESADE, Barcelona) Air France: 1987-1989

Marketing& Sales, Caribbean Area, based in à Pointe-à-Pitre

1989-1991

Deputy to « Chef de Cabinet », Office of the Chairman

1991-1993

Assistant to EVP Commercial, Passenger Business Division

1993-1996

Sales Manager French Switzerland and later Commercial Director Central Europe

Based in Geneva

1996- 1998

General Manager Northern France, based in Lille (French Market Division)

1998- 2001

General Manager Andean Region (Colombia, Ecuador, Venezuela, Peru, Bolivia), based in Bogota.

French Trade Advisor (CCE) for Colombia 2001-2005

Marketing & Sales Director, Area Europe & North Africa Air France Klm:

2005- 2009

General Manager Greater China (China, Hong Kong & Taiwan), based in Beijing

French Trade Advisor (CCE) for China

2009 – 2013

VP Direct Sales & Services

International & The Netherlands Division Air France-KLM

July 1, 2013 – Till date

Senior Vice President Africa,

Air France KLM

Legre

What is the essence of this exhibition holding here at this magnificent Grand Palais Exhibition Centre? What is Air France showcasing?

What we are trying to show through this exhibition is that Air France is investing in the future, proud of its past, has a long tradition of high quality French taste and this exactly is the new motto of the new products. I believe also that it is important to insist that we are not only investing in First Class or Business Class, but all four cabins.

Even if you are travelling in economy, we are happy to welcome you and show you that Air France is changing; Air France is giving the best of its quality, thanks to the seats but also thanks to the cabin crew and ground crew.

44 business | global NEWS

Sanctity of Truth

Monday, September 22, 2014

Telecoms: Sub-Sahara Africa’s USFs estimated at $400m UNIVERSAL ACCESS Report finds found significant deficiencies in telecoms universal service fund structure, management and operation Kunle Azeez

U

niversal Services Funds (USFs), being held by countries within the SubSahara Africa (SSA), have

reached a whopping $400 million (about N62 billion) but ‘yet to be dispersed,’ according to a new report by the GSM Association.

The USFs are special funds set aside by countries around the world to provide telecoms services to people living in the rural areas, where telecoms firms are reluctant to roll out services for lack of commercial viability.

The GSMA USF report highlights need for alternative methods to achieve universal service in the region as the study finds that USFs in the region do not appear to be the

most appropriate mechanism for providing universal access and service, and to furthering social and economic improvement in a proactive, cost-effective and transparent manner.

Generally, the report found significant deficiencies in fund structure, management and operation throughout the SSA region.

The report concludes that consideration must be given to disbanding inactive funds and returning the remaining monies to the operators who paid the levies in the first place and, where this is not feasible, gradually reducing

Chairman of Alibaba Group Holding Ltd., Jack Ma, (center), waves while standing for a photograph with Chief executive officer of Alibaba Group Holding Ltd., Jonathan Lu, left, and, vice chairman and co-founder Joseph "Joe" Tsai, in front of the New York Stock Exchange.

American Air’s $8,000 fare boasts shrimp scampi, privacy

T

he costliest US domestic fare is a bet that some fliers will pay for the ultimate in pampering from New York to Los Angeles and San Francisco.

The 10 first-class seats on each of the Airbus Group NV A321 (AIR) jets dedicated to those trips are the only ones offered on any route within the US. Picture a front cabin where the aisle is flanked by just one berth on either side, in the space usually given over to threeabreast rows. Nosy neighbors can’t shoulder surf. The water is cucumber-infused, the wines billed as award winners. Noisecanceling headphones muffle a six-hour trip. The biggest question after an investment of almost $2 billion of planes and millions more in upgrades is whether the experiment will work.

“There certainly is a risk in doing this,” said Henry Harteveldt, founder of travel advisory firm Atmosphere Research Group. “If this proves to be profitable only on the New York to L.A. run and neutral or losing money on San Francisco, who knows if the profits from L.A.

will be enough to sustain it?”

The 17 Airbus jets, dubbed A321Ts for “transcontinental,” are alone in flying within the U.S. with three cabins, for first, business and coach. United Airlines (UAL) went to a two-class setup on cross-country routes in 2013. Delta Air Lines Inc. (DAL) already had just two cabins on its aircraft.

“Eight-thousand dollars is a tremendous sum of money,” said Jay Sorensen, president of aviation consultant IdeaWorksCompany in Shorewood, Wisconsin. “If they are publishing that, then they are getting it. At this point, they have a very rare and meaningful distinction.”

Chief Executive Officer Doug Parker and his top lieutenants initially were skeptical of the A321T, the brainchild of former CEO Tom Horton and Virasb Vahidi, his chief marketing officer. Fort Worth, Texasbased American had the plan in the works when Parker moved over from running US Airways as the companies merged in December.

A321T flights began in January, and President Scott Kirby

said the service generated an enthusiastic response at an investor conference near Los Angeles this week.

“I bet I had at least six to eight people seek me out at the conference to tell me how great the transcon product was,” Kirby told analysts yesterday at an Imperial Capital event in New York. “It’s a huge hit with our customers and doing well.”

The seats are 27.4 inches (70 centimeters) wide, compared with 19 in business and 17.7 in coach.

A round-trip fare to Los Angeles tonight from New York’s Kennedy airport in first class was offered on American’s website yesterday for about $7,400.

Some recent tickets topped $8,000. Either would be an expense-account stretch for a typical corporate flier. The A321T’s routes let American tap a niche that includes entertainers, investors and lawyers willing to pay for exclusivity.

Privacy and extra workspace in the first-class berths attracted Matthew Bennett, who used frequent-flier miles to book one way on an A321T.

the levy collected for either inactive or low activity funds and gradually phasing out the funds.

The study found that alternative approaches to achieving universal service, such as license obligations, are often more effective than USFs. In an earlier report, the GSMA today called upon governments in SSA to review their approach to the increasing tax burden imposed on the mobile industry.

The GSMA released two studies that explore various aspects of mobile-specific taxation in Africa and show that this burden is stifling economic growth in those countries that have introduced mobile-specific taxation.

The first report, ‘Surtax on International Incoming Traffic (SIIT) in Africa’, examines the impact of SIIT in Sub-Saharan Africa and concludes that the introduction of SIIT can lead to less revenue for mobile operators and governments and higher prices for consumers.

A second report, ‘SubSaharan Africa Universal Service Fund (USF) Study’, found that most of these funds are not succeeding in delivering their stated goal of widening access to telecommunication services and that alternative market-based solutions are more effective.

“Sub-Saharan Africa is the fastest-growing region globally, with 328 million unique mobile subscribers and an annual growth rate of 18 per cent over the last five years. However, with subscriber penetration of just 37 per cent, there is clearly still huge potential for greater growth ahead,” said Chief Regulatory Officer, GSMA, Tom Phillips.

“Beyond further adoption of basic voice services, the region is starting to see an explosion in the uptake of mobile data.

However, a short-term focus by some countries on generating revenue through increasing the SIIT, combined with the

continued imposition of USF levies despite accumulated funds that are not being effectively employed, will clearly have a negative impact on the domestic mobile sector and other businesses in the region,” Phillips said.

The report Surtax on Inter national Incoming Traffic (SIIT) in Africa studies the effects of the SIIT in six countries in Sub-Saharan Africa and on regional integration.

The report’s findings are in line with a recent publication from the Organisation for Economic Co-operation and Development (OECD) that shows that imposing higher charges for the termination of international inbound traffic suppresses demand. Similar to the GSMA’s study, the OECD report concludes that those governments that impose higher termination charges do not see their revenues increase proportionately.

“Mobile is an important contributor to the economy of Sub-Saharan Africa, accounting for more than six per cent of the region’s GDP, more than any other comparable region globally,” continued Phillips.

He said, “As our research has shown, taxation as a proportion of the total cost of mobile ownership in the region is also higher than the global average, a factor that makes mobile services less affordable for end users.

“The SIIT is clearly being used as an opportunistic short-term revenue tool by some governments and, in reality, USFs have become an unnecessary levy on the telecommunications industry. We strongly feel that eliminating harmful mobile-specific taxation would benefit consumers, businesses and governments by encouraging the takeup of new mobile services, improving productivity and boosting GDP and overall tax revenues in the longer term.”

Alibaba co-founders' $6.6bn wealthier on soaring IPO

C

hina’s richest person got even wealthier at the weekend as Alibaba Group Holding Ltd. soared on its first day of trading.

Jack Ma, who started the e-commerce company in his apartment in 1999, has added $4.7 billion to his net worth. His stake surged $3.9 billion after the Chinese company’s shares rose 35.8 per cent to $92.33 as of 2:38 p.m. on Friday in New York.

Ma received $867 million selling shares in the offering. The gain makes him second-richest person in Asia, trailing Hong Kong’s Li Ka-Shing, according to the Bloomberg Billionaires Index.

“My understanding is that it was deliberately priced below market to get a boost,” Jack Ablin, who helps manage $66 billion in assets as chief investment officer at Chicagobased BMO Private Bank, said in a phone call. “It certainly came

out of the starting gates on the right foot.”

Ma, 50, also owns 48.5 per cent of Zhejiang Ant Small & Micro Financial, a closely held entity that operates Alipay, a separate online-payment service. The stake is valued at $10.3 billion, according to data compiled by Bloomberg. Ma has a $26.2 billion fortune.

Alibaba has profited from China’s burgeoning consumer class by dominating the e-commerce industry in the country of 1.36 billion people.

The company’s now valued at $228 billion, making it larger than Amazon.com Inc. and EBay Inc. combined, and more valuable than all but nine companies in the Standard & Poor’s 500 Index.

Alibaba Vice-Chairman, Joseph Tsai, who collected $289 million selling shares at the offering, saw his fortune leap $1.9 billion

NEWS 45

Sanctity of Truth

Monday, September 22, 2014

Daniel’s body in Labour, soul in PDP he Peoples Democratic resources of the PDP and Tstate Party (PDP) in Ogun its government to fund has described the his followers in LP. purported lone defection of former governor of the state, chief Gbenga Daniel (OGD) from the Labour Party (LP) to its fold as “a continuation of the deceit that OGD is known for”.

In a statement issued in Abeokuta yesterday by the State Publicity Secretary, Waliu Oladipupo, the party said: “Much as our hands are widely opened to receive defectors into our party, including OGD, we find his purported solo return as a less than clever attempt to hoodwink our people and deceive the national leaders of our party.

“We have reliable information that the kite being flied that most of his followers have vowed not to return with him to the PDP is part of a grand plot to deceive our leaders and use the

“This is a repeat of what happened in 2011 when his body remained in the PDP but his heart and soul were with the Peoples Party of Nigeria (PPN). He used the resources of the PDP-led government to fund the PPN. “It is even more so now that he has been out of government for about four years. Expectedly, this has taken a toll on his resources. The thinking among his group is that if he declares for PDP, he would be wellpositioned to participate in the campaign activities and funds of the PDP, especially the Presidential election, and then leverage on it to fund his supporters in LP.” The party said anything short of a wholesale return of OGD and his followers to the PDP would be unacceptable to it.

Abia guber aspirant rejects zoning Igbeaku Orji Umuahia

governorship aspirant AOgah, in Abia State, Dr Uche has rejected the

zoning of the governorship seat to Abia South by the PDP, saying that people are clamouring for zoning because development is not evenly spread.

According to him, proponents of zoning see it as a way of addressing the neglect they have suffered from previous administrations which failed to give them a sense of belonging in the distribution of amenities.

82,880

Ogah said at the formal opening of his campaign office in Umuahia that the call for zoning is strident because infrastructural development is deliberately skewed in favour of the zone that produces the governor and assured that he will be a “better governor for the South of Abia than their own children.”

The president of Masters Energy used the occasion to reiterate that nobody, except God, can stop him. “As long as Gods hand is in this project, nobody can frustrate me,” he said.

The total area (in sq. km) of United Arab Emirates.

Source: Worldfactsandfigures.com

He noted that zoning is not in the constitution of the party and therefore cannot be the reason for him to withdraw, adding that the National Chairman of PDP, Adamu Muazu and President Goodluck Jonathan, as the highest authorities in the party, have said there is no zoning in the party. He added that their declaration supercedes that of the state leadership.

He however maintained that as a party man he would not leave PDP “because what drives you is the ideology

10.88

The percentage of the urban population of Greece in 2012.

Source: Un.org

of the party; I am in PDP and will remain in PDP.” Ogah promised that seven days after his swearing in, Abia State will be different because according to him investors and partners need an enabling environment. He said flyovers would be seen in Aba and other infrastructure that would restore the commercial city to its glory as the Japan of Africa.

The Isuikwuato-born politician said Aba had the potential of generating all the revenue the state needs for development if properly harnessed.

31.6%

The IGR realized from other revenue sources in Adamawa State in 2010.

Source: National Bureau of Statistics

JUSUN: Rivers judiciary workers’ strike’ll continue he Judiciary Staff TSUN, Union of Nigeria, JUSouth South zone

has said that the workers’ strike of their members in Rivers State will continue until a concrete resolution is reached by all concerned parties.

This position was contained in a communiqué signed by the National Vice President JUSUN, South South, Comrade Victor Ekpela and State Secretary (Edo State), Uyi Ogieriahi as part of the Union’s resolutions at its last zonal meeting held in Benin last week.

According to the communiqué issued at the end of the meeting, the zone in session supports the embarked strike action by the Judiciary Staff Union of Nigeria (JU-

SUN) Rivers State Branch and urges the workers to continue as the National Secretariat has taken over the issue and until the workers are satisfied on who is the head of the State Judiciary.

“The zone in session condemned the attempt by some persons to forestall the strike action as it will resist any such attempt, and advised that measures should be taken by stakeholders to see that all issues are resolved,” the statement reads.

Other resolutions reached at the meeting include the call on the Accountant General of the Federation and all stakeholders to comply and implement the Federal High Court judgment of 13th January, 2014.

Delta community queries Jega over 8, 412 polling units Gabriel Choba Ughelli

he people of Egbema TNorth Community in Warri Local Government

Area of Delta, weekend queried rationale behind the plans by the Independent National Electoral Commission (INEC), to create 8,412 additional polling units in the South against 21,615 additional polling units in the North.

Speaking to journalists through a group known as, Egbema Gbaramatu Communities Development Foundation, the Secretary, Jude Ukori, said the plan has clearly indicated that the Prof. Atahiru Jega led INEC is call-

ing for a division of the country.

He noted that INEC has been known for doing good job in the past but this one is unacceptable because it is a ploy to further marginalize the south politically if allowed. Hence it should be reverted immediately. The proposal is baseless anomaly that is unacceptable.

He revealed that apart from the plan been a grand conspiracy to divide the country, it was aimed to give the North a clear advantage over the Southern part of the country, maintaining that Prof. Jega, the INEC chairman had already lost credibility and called for his immediate sack.

L-R: Former Minister of Information/Chairman, Board of Trustees, Nigerian Telecoms Awards, Chief Alex Akinyele; Secretary-General, Nigerian Telecoms Awards, Otunba Biodun Ajiboye; Director, Mike Adenuga Group, Mr. Niyi Adewunmi and former Governor of Ogun State/ Vice-Chairman, Nigerian Telecoms Awards, Board of Trustees, Otunba Gbenga Daniel, during the 10th Nigerian Telecoms Awards, where Globacom won the best Telecoms Investor of the Decade Award, in Lagos…at the weekend.

PHOTO: GODWIN IREKHE

Kwankwaso predicts PDP's defeat over Jonathan’s endorsement Muhammad Kabir Kano

G

overnor Rabiu Musa Kwankwaso of Kano State has told the ruling People’s Democratic Party (PDP) leaders that their time is up following endorsement of President Goodluck Jonathan as the party’s sole candidate in 2015, adding that the action violates the tenets of democracy.

Kwankwaso recalled that as one of the chieftains of PDP in 1999, he with others stuggled to see that there was conduct of party primaries and take as a matter of priority the welfare of Nigerians.

He, however noted that selfish people later stormed the party, hijacked it and turned it to cult like party with a new formula of sharing money at will, forgetting

about the wellbeing of the nation.

Kwankwaso hinted that the basic tenets of democratic culture entail that nobody is above any other party follower regardless of his position and when it comes to choosing party candidates, supporters and loyal followers have a great role to play, and not for few persons to collect gratifications, sit in a room and decide for others. That is what the PDP leaders did.

“When five governors decamped from PDP to APC, I told Nigerians that PDP will become a weak party that will lack democratic tenets, now the stakeholders of the party have come out to say that they have chosen President Jonathan as their party’s presidential candidate”, Kwankwaso said.

He said PDP leaders without consultations with appropriate party followers took the decision, noting that the development would not allow the party delegates to choose the best candidate for the party which is indicating a bright 2015 election for APC. “I am assuring you that APC leaders are committed to doing justice in the forthcoming party’s primaries - be it State, National Assembly’s, governorship and even that of presidential election” he stated maintaining, that the party will give everybody especially delegates the right to choose the best candidates.

Kwankwaso alleged that there is no time in the history of governance was money is used to influence party leaders like in Jonathan’s

administration.

The governor said those money politicians would never be mindful of the people, assuring that he as a governor would continue to expose such people so that voters would identify them in order to avoid them.

"I will continue to talk and I will never be silent. I will mention names of politicians who collected money and abandoned their people.

Whether they are being killed, maimed or sent to Cameroun or Niger, they don’t care. All they are after is what are they going to get”, he alleged.

Also, Alhaji Gambo Muhammadu Danpass, a member of Kano PDP and a leader in the Kano Business community, promised that they would stand behind Kwankawso.

46 NEWS

Sanctity of Truth

Monday, September 22, 2014

Presidential ticket: APC youths call for unity Wale Elegbede he youth arm of the All T(APC), Progressives Congress the All Progres-

sives Youth (APY), has called on aspirants in the party to remain focused and committed to the party's success in 2015.

The group led by its National President, Comrade Oluwaseyi Bamigbade, made the call at the inauguration of coordinators for the 36 states and Abuja recently.

APY specifically called on presidential aspirants in the party, including former Head of State, General Mu-

Ogun State Governor, Ibikunle Amosun (fourth left); Chairman, Ogun Waterside Local Government Council, Olatunde Rufai (fifth left) and others, as Amosun arrived the local government area during his on-going official assessment tour of the 20 councils in the state…at the weekend

Confusion as Ekiti council operates two headquarters Adesina Wahab Ado-Ekiti

T

wo months after the creation of 19 new Local Council Development Areas (LCDAs) by Ekiti State Governor, Kayode Fayemi, all is not well with one of the new councils, Ikole West LCDA, as the council presently operates two different headquarters.

This follows the refusal of some of the communities led by Isaba-Ekiti to recognise Ijesa-Isu-Ekiti, announced

by Governor Fayemi, as the council headquarters.

The development has led to some junior workers in the council resuming for work in Isaba, while the senior staff go to in Ijesa-Isu.

Ikole West LCDA was created out of the present Ikole Local Government with the following towns and villages making up the council; Asin, Usin, Ootunja, Ilamo, Igbona, Isaba, Orin Odo, Fatunla and Ijesa-Isu-Ekiti.

It was gathered that during the statewide tour by the committee set up by Fayemi to assess the clamour of communities demanding new councils, majority of the communities agreed on the choice of Isaba as their headquarters, but the state government finally announced IjesaIsu as the headquarters of the council.

Giving reasons for the development, the Asaba of Isaba, Oba Samuel Idowu Ajibola, said Ijesa-Isu would never be accepted as the head-

quarters of the council by the remaining communities.

He said: “Nobody is ready to go to Ijesa-Isu as the headquarters of this council area. When the agitation for the creation of this council began about 10 years ago, we all resolved that the headquarters would be cited here in Isaba, being central to all the towns and communities.

“When the present regime renewed the move, we spoke with the same voice. Besides, we are almost six or seven communities from this side, what logic is there for six to seven communities to travel to another area that is located at the extreme?

“We have made our positions known to the state governor and members

of the House of Assembly and I am sure things would have to remain as it is until the injustice is addressed.

“Presently, the temporary office of the council is in Ilamo via Isaba, where the junior workers resume, while l learnt that the senior staff resume at IjesaIsu,” he said.

Controversy has trailed the creation of the new councils as the Peoples Democratic Party (PDP), which will form the next government on October 16, has faulted the processes that led to their creation.

The PDP argued Ekiti State Independent Electoral Commission (EKSIEC) that conducted the referendum for their creation, was not legally constituted.

We’ve delivered on our promises, says Fayemi Adesina Wahab Ado-Ekiti

State Governor, Dr. Eendkiti Kayode Fayemi, weeksaid that his admin-

istration has delivered on all the promises made to the people of the state before it came on board about four years ago.

Speaking in Ado-Ekiti, through his Chief of Staff, Mr. Yemi Adaramodu, the governor said his government has done creditably well in implementing all programmes and policies contained in its eight-point agenda.

Adaramodu spoke at the weekend on the programmes earmarked for the fourth anniversary of the administration.

“All that this admin-

istration has done in the last four years had been envisioned. They are all contained in the inaugural speech of Governor Fayemi on October 16, 2010. Within four years, our administration has been able, through selfdenial, perseverance and prudent management of scarce resources, turned around a seemingly hopeless situation for better.

“Ekiti today is now an investment haven, a tourist destination of choice; the toast of development partners and a reference point in good and responsive governance, because we have confronted headlong the critical questions of development and stagnation.

“We therefore salute

our people for their cooperation. It is also gratifying to note that the sacrifice of the early years has paid off as we all can boast of a better state, where we have peace, progress and prosperity,” he said.

He added that to show appreciation for the people’s support and to inaugurate some completed projects, Governor Fayemi would start a statewide tour of local government areas.

hammad Buhari (rtd.), Alhaji Atiku Abubakar, Governor Rabiu Musa Kwankwaso and other aspirants to remain focused and work together so that the party can defeat the PDP in the 2015 general elections.

According to the group, it is not uncommon for political aspirants to fall apart after primary election, but it urged aspirants in APC to guide against this in preparation for the 2015 elections.

The group is of the view that with unity of purpose; the APC will easily defeat the PDP in the 2015 elections.

Ex-commissioner joins Benue Assembly race he immediate past mer chairman of Ukum TAgriculture Commissioner for Local Government, poand Natu- litical stakeholders in the ral Resources in Benue State, Dr. Benjamin Teryima Ashaver, has declared his intention to contest the House of Assembly election on the platform of the Peoples Democratic Party (PDP).

Speaking in Makurdi, Ashaver said his wealth of experience in public service has placed him above other personalities vying for the position. He promised to attract viable projects to his people if given the mandate.

According to the for-

constituency have agreed that both the chairmanship and the House of Assembly seats be occupied on a single term basis in which four former members of the Assembly did one single term each.

He said being versatile in political science, he has what it takes to be very proactive both on the floor of the Assembly and in lobbying to bring development projects to his area, saying PDP is the only platform in the state that can be trusted.

Makurdi varsities in trouble over tax evasion Cephas Iorhemen Makurdi

hairman of Benue CRevenue State Board of Internal Services (BIRS),

Mr. Gabriel Asen, has said that the board has concluded plans to sue the managements of the Federal University of Agriculture, Makurdi and that of the Benue State University, Makurdi, over tax evasion.

Asen, who revealed this in an interview in Makurdi, also stressed the need for the people to pay their taxes. He said the board under his leadership has recorded the highest revenue generation since the

creation of the state.

“The Federal University of Agriculture, Makurdi and the Benue State University, Makurdi, are owing the BIRS almost N4 billion and we have concluded arrangements to take them to court to ensure compliance with the state tax laws to improve the revenue base of the state.”

Giving the breakdown of the debt, Asen said the Federal University of Agriculture, from January 2011 to June 2013 owed N2.3 billion, while the state university is owing N1.3 billion from January 2005 to April 2012.

Obuh: I'm eager for employment as Delta gov in 2015 Dominic Adewole ASABA

to take Da etermined over from his boss, retired Permanent

Secretary to Governor Emmanuel Uduaghan, Sir Anthony Obuh, has declared his eagerness to succeed the governor in next year’s election.

Obuh, who maintained his applicant status and keenness to get employ-

ment into the oil rich state’s Government House, Asaba, as soon as possible, said nothing would make him lose focus in the race.

Obuh’s dazzling emergence on the political turf last month has thrown the gauntlet of Ika nation and Delta North senatorial district at large, into a theatre of battle.

Since Obuh went to submit his application to Chief Edwin Clark, top

contenders, including the former Speaker of the House of Assembly, Hon. Victor Ochei, the senator representing Delta North senatorial district, Dr. Ifeanyi Okowa, the incumbent Chief of Staff, Dr. Festus Okubor, a former Assistant Commissioner of Police in River State, Chief Godswill Obielum, Lagos-based multimillionaire, Chief Peter Okocha, the Chairperson of

the Board of Directors of the Nigeria Social Insurance Trust Fund (NSITF), Mrs. Ngozi Olejeme, President Goodluck Jonathan’s Special Adviser on Projects’ Monitoring and Evaluation, Prof.

Sylvester Monye and the former Acting Governor of the state, Rt. Hon. Sam Obi, who all hail from the same senatorial district, have started re-strategising.

NEWS 47

Sanctity of Truth

Monday, September 22, 2014

PDP, APC disagree over plan to cause mayhem in Osun Adeolu Adeyemo Osogbo

T

he All Progressives Congress (APC) in Osun State yesterday accused the state chapter of the Peoples Democratic Party (PDP) of planning to create problem in the state.

The APC, in a press release issued by its Director of Publicity, Research and Strategy,, Mr. Kunle Oyatomi, also raised the

alarm that the PDP has concluded plans to make the state ungovernable for governor Rauf Aregbesola.

He, however, called on security operatives in the state to be at alert to their responsibilities by checkmating any unholy act, which he said could lead to crisis.

The APC further revealed that the “PDP has a plot in the pipeline to sponsor a mass protest

Army to give Adekunle full military burial Flora Onwudiwe he Chief of Army TGeneral Staff, LieutenantKenneth Min-

imah, has said that the late civil war hero and Commander of the 3rd Marine Commando, Brigadier-General Benjamin Adekunle, would be given full military burial.

Minimah made this assertion through the General Officer Commanding (GOC), 81 Division, Major-General Tamunomiebi Dibi, who said BrigadierGeneral Adekunle as a general deserves full military burial.

He added that General Adekunle was the arrow head in the task of keeping Nigeria a united entity and therefore deserves the honour.

General Dibi led Nigerian Army officers and soldiers to the family house of General Adekunle on behalf of the officers and men of the force to commiserate with the family of the civil war hero.

He, however, urged

younger officers and all the officers of the force to emulate the late officer, adding that the “fallen officer was upright, incorruptible and a courageous infantry officer.”

He said: “He fought gallantly to ensure that Nigeria did not break, we are all aware of this, the Nigerian Army will miss him greatly, we do hope that his legacies will continue to live on.”

The GOC said the Nigerian Army will not abandon the family of the late general, especially at a time like this.

Benjamin Adesanya Maja Adekunle, who died on September 13, 2014, was born in Kaduna. His father was from Ogbomosho, while his mother was a member of the Bachama tribe.

He underwent secondary education at the Government College, Okene, in present day Kogi State. He enlisted in the Nigerian Army in 1958, shortly after completing his school certificate examinations.

Yero declines award from CAN Ibraheem Musa Kaduna

aduna State Governor, KYero, Mukhtar Ramalan has declined an

award that was given to him by the Kaduna North Local Government chapter of the Christian Association of Nigeria (CAN), arguing that he was not told the reason for the honour and why he was selected.

The governor, who spoke during the award night said: “I only accept an award if I am told the reason for it and what I did or achieved to merit it, but all I want to say is that there is need for us to work hard for peace.”

Yero, who expressed happiness that Muslims were given awards at the occasion, said that the gesture shows that there is unity and understand-

ing between adherents of the two religions.

He, however, frowned on religious conflicts, which he described as misrepresentations of the teachings of both the Bible and Quran.

He advised Christian and Muslim leaders to stand up against the spread of hate messages and division in the society, noting that adherents of both faiths should reject those using religion and ethnicity to divide them against purposeful development and integration.

“We must do away with those who have only sweet talks, they will want to divide our society for their interests and the fact is, after they get what they want, they will still face problem of reuniting same society they divided,” he advised.

to the Federal Capital Territory, Abuja, with the ultimate aim of denouncing the result of the August 9, 2014 governorship election won

by Governor Rauf Aregbesola.

“The PDP leadership in the state is already making arrangement for hundreds of youths to be transported to Abuja to protest the victory of Governor Rauf Aregbesola in the August 9, governorship election.

“This protest will be

4m

based on the yet-to-besubstantiated allegation by the PDP that the Independent National Electoral Commission (INEC) colluded with the governor and the APC to rig the August 9 election.

“The underlying theme of the Abuja protest by the PDP will be that INEC gave the election to the APC to prevent President Goodluck Jonathan from winning the 2015 presidential election. So the protest will be effectively against the

The annual earnings of Arturo Vidal of Juventus in 2014-2015.

Source: Goal.com

INEC and the APC.” However, PDP’s Publicity Secretary in Osun State, Prince Bola Ajao, said: “Unfortunately, this mandate is being held on to by Aregbesola because of the large scale electoral fraud and anomalies that characterised the August 9, 2014 governorship election. This cock and bull story is not our portion; we would do everything legally possible within the ambit of the law to retrieve this mandate.

“The APC and its lead-

26,500

The total number of internet users in Dominica in 2006.

Source: Blatantworld.com

ership are pathological liars, if they are sure that their illegitimate mandate is genuine, they would not be cooking up unfounded allegation that lacked basis. Let them continue.

“It is clear that the APC is in concert with INEC to thwart the desire of Osun people. Even, from the ongoing inspection of election materials, it is obvious that they are collaborating to perfect their sinister agenda,” Ajao said.

11%

The percentage of women population above 60 years in Macao, China in 2012.

Source: Un.org

Minister of State for Power, Alhaji Mohammed Wakil (middle), with some officials, during a visit to the Mole Power 33 Kva Transmission Line in Borno …at the weekend

Abuja chamber targets Belgore denies Ajaokuta steel comments N1.5bn turnover Clem Khena-Ogbena he Abuja Chamber of TMines Commerce, Industry, and Agriculture

(ABUCCIMA), has targeted a turnover of N1.5 billion this year, hoping to exceed that of the preceding year.

President of the chamber, Solomon Nyagba, said this while addressing journalists on the 9th Abuja International Trade Fair, which will commence from tomorrow, September 23 to October 6, 2014, at the J. T. Useni International Trade Fair Complex in Abuja.

Nyagba said although last year’s turnover was N1.5 billion, the chamber was determined to exceed the previous figure at the end of this year in view of the aggressive marketing and publicity programme embarked upon by the chamber ahead of the fair.

According to him, about 200 foreign participants from different

countries, including India, China, Egypt and Ghana, had expressed their willingness to participate in the fair.

Nyagba said: “It is my pleasure to inform you that some foreign exhibitors will be participating in the fair.

We have received their expression of interest.

It is envisaged that this year’s trade fair will witness more exhibitors locally as well.”

He added that the fair with the theme; “Strengthening SMEs for Economic Growth,” was being organised by ABUCCIMA, expressing the hope that the fair would serve as a forum for wooing some investors, who were expected to create employment opportunities and bring down poverty, by investing in the country.

He added that the fair would also encourage business networking and exchange of ideas to foster good business relationship within the business class.

Muhammad Bashir Lokoja

hairman of Assets Cration Management Corpoof Nigeria (AM-

CON), Kola Belgore, has denied statements recently credited to him on the viability or otherwise of Ajaokuta Steel Company, Kogi State.

Belgore in a denial letter he personally sent to the management of the company, which was made available to journalists in Lokoja yesterday said: “I did not and will never disparage the company and as I do not work there, it is out of place for me to know and mention anything about total monthly wage bill, the number of machines installed and the number of staff in the company.”

The AMCON chairman was quoted as saying that the government was wasting N3.4 billion monthly to pay the salaries of 6,000 workers, who were doing nothing at the company.

The comments attracted criticisms from stakeholders in the nation’s steel sector, organised labour and the management of the company, among others.

However, Balgore in his letter dated September 8, 2014 and addressed to the Sole Administrator of the company, Joseph Onobere, dismissed the report credited to him, saying that all the statement attributed to him by the media were wrong.

Belgore, who, however, admitted speaking extempore at a luncheon in Ilorin, Kwara State on the nation’s ailing economy, the steel sector and other sundry issues, said he did not give the figures credited to him by the media.

“Let me reiterate that the press did not quote me correctly. I have always supported Ajaokuta Steel Company and will not say or do anything to bring it into disrepute or ridicule,” he added.

48 NEWS

Sanctity of Truth

Monday, September 22, 2014

Fayose tasks Nigerians on service to fatherland Adesina Wahab Ado-Ekiti

E

kiti State GovernorElect, Mr Ayodele Fayose, has said those working in the Armed Forces, the police and other security agencies are making the ultimate sacrifice for the survival and continued corporate existence of the country.

Speaking at the weekend at the Ekiti State Teaching Hospital (EKSUTH), AdoEkiti during an interaction with a Chief Superintendent of Police (CSP), Mr. Pius Aniojoani, who lost his right hand during a training for junior officers in the state while preparing for the June 21 governorship election, Fayose said: "Every Nigerian must be ready to make personal sacrifices for the development of the country".

The governor-elect, represented by his deputy, Dr. Olusola Eleka, gave the wounded police chief some amount of money for 'general expenses', promising to consider his (CSP Aniojoani's) pleas for support towards raising N4,240,000 needed for surgery and for the fixing of a prosthesis for the missing hand.

Fayose's words: "The accident is unfortunate as it has left you with a permanent scar. This development is very unfortunate.

I want to assure you that

we know what you are going through and we also grieve with you. This has happened in the course of serving your fatherland.

"It is therefore a great thing to know that some officers could still go to the extent of risking it all while performing official duties.

Don't be discouraged. What we offered you here is a token of appreciation. We will equally consider supporting you in undergoing necessary surgery for final rehabilitation, so that you can return to work at the earliest achievable time", Fayose said.

Speaking earlier, Aniojoani explained he had always been training officers in the aspect of handling bombs but his finger mistakenly touched a pin on the bomb he was using during the training which caused an explosion during which he lost the right wrist.

Hs words: "I have trained police officers before. I have been doing it.

But that day, my hand mistakenly touched a pin on the bomb which detonated it, causing the injury".

Appealing for financial support to enable him recover early enough and possibly return to work, the CSP explained he had been making contacts and had sent help letters out to individuals and organisations to no avail.

Five suspected terrorists surrender weapons –DHQ Emmanuel Onani he Defence HeadquarTyesterday ters (DHQ) announced , that five Boko

Haram fighters, Saturday, surrendered their weapons to troops prosecuting the counter-insurgency war in the North East.

A statement to that effect was posted on the DHQ's twitter handle by the Director of Defence Information (DDI), Maj. Gen. Chris Olukolade.

Apart from the five suspected insurgents, who were said to have pleaded for "mercy", Olukolade further noted that other captured fighters, are providing useful information on future

plans by their members to strike.

In the past two weeks, troops have repelled three attacks on Konduga, a town about 35 kilometres from Maiduguri, the Borno State capital, with heavy casualties on the side of Boko Haram.

In the post, the DHQ said: "As the heat on terrorists continues, five terrorists yesterday surrendered with all their weapons to troops, pleading for mercy.

"Other captured terrorists have also been giving useful information on the subsequent plans of the group, in an apparent offer to cooperate," the post noted.

Kwara PDP gets elders committee, seeks peace Biodun Oyeleye Ilorin

the Peoples Cinhairman Democratic Party (PDP) Kwara State, Akogun

Iyiola Oyedepo, has tasked the party’s Elders Committee to work towards uniting the party members in the state, ahead of the 2015 general elections.

Oyedepo, who gave the charge in Ilorin, the state capital, while inaugurating the 61 – man State Elders’ Committee of the

party, specifically asked the elders to help bring an end to the lingering crisis bedevilling the leadership of the party in Ilorin West Local Government Area, which has now become subject of litigation.

He also pleaded with them to help in ensuring that the party's governorship candidate emerged without tearing the party apart or leading to defection of major stakeholders to another party.

L-R: Mr. Kiki Whenu; Lagos State governorship aspirant, All Progressives Congress (APC), Mr Akinwumi Ambode; Chairman, APC Leaders’ Forum, Mr. Akinsanya Sunny Ajose; Moses Dosu and Mr. Andrew Whenu Monday, during Ambode’s solidarity visit to the community leaders of APC in Badagry, Lagos…at the weekend

33 states yet to sign ‘Smart State’ MoU Kunle Azeez

T

hirty-three states in the Federation are yet to sign Memorandum of Understanding (MoU) with the Federal Government on the ongoing ‘Smart State’ scheme being promoted by the Ministry of Communication Technology to accelerate deployment of broadband infrastructure by the telecommunication companies to boost the economic activities in the states.

This was contained in a communiqué issued at the end of the 2014 third meeting of the National

Council on Communication Technology (NCCT) held in Yenogoa, Bayelsa State.

The communiqué issued and made available to New Telegraph stated that in implementing the National Broadband Plan, all tiers of government needed to partner with the Federal Government, under the ‘Smart State’ initiative.

It noted that so far, only three states, namely Lagos, Cross River and Federal Capital Territory had signed the MoU. It, however, stated that the scheme was being tested in Anambra, Bayelsa, Ondo with oth-

ers expected to follow, urging state governments in the country to sign up to the MoU with the ministry for the implementation of the ‘Smart State’ initiative.

The initiative was established to monitor the implementation of the National Broadband Plan.

The scheme is geared at engaging governors and relevant authorities at the state and federal levels to address the issue of multiple taxations, impeding the acceleration of the rollout of telecoms critical infrastructure across Nigeria.

The scheme’s main

aim of the Smart States initiative is to ensure that effective measures are adopted to remove arbitrary charges and eradicate multiple taxations across the nation impeding the roll out of critical Information and Communication Technology infrastructure across Nigeria.

The communiqué also urged the Nigerian Postal Services (NIPOST) to use its post offices to deploy ICT services all across the country and leverage on existing Public Access Venues (PAV) infrastructure around the country to deploy its services

Southern Kaduna belongs to PDP, says Deputy Gov Ibraheem Musa Kaduna

he people of Southern Tvised Kaduna have been adto vote overwhelm-

ingly for the Peoples Democratic Party(PDP) in the coming elections because not political party can give them

what the ruling party has given to them from the inception of democracy till date.

The Deputy Governor of Kaduna State, Ambassador Nuhu Audu Bajoga, who made this known while meeting ward executives at his Kwoi hometown at the weekend,

reiterated that Southern Kaduna has been the base of PDP since the return of democracy and the zone's voting pattern will not change during the 2015 elections.

"The PDP has made six of our Southern Kaduna people ministers since 1999, appointed two

Chief of Army staffs, one was Chief of Naval staff, one was Chief of Defence staff and we have many completed and ongoing state and federal projects courtesy the party. So, don't betray a party that has given your people and zone such opportunities", he advised.

Jonathan, Sambo, Mark, others for Suswam’s book presentation Temitope Ogunbanke new book on Benue AGabriel State Governor, Dr. Suswam, will be

presented to the public tomorrow in Abuja.

The book titled “Suswam: Politics and Governance in Benue. An Insider’s Account” is written by the governor’s Special Ad-

viser on Media and Public Affairs, Dr Cletus Akwaya.

According to a statement by the book presentation Coordinating Committee Chairman, Hon. James Uloko, President Goodluck Jonathan is expected as Guest of Honour, while Vice President Namadi Sambo, who wrote the foreword of the book; Senate President,

David Mark and Speaker, House of Representatives, Rt. Hon. Aminu Waziri Tambuwal, are Special Guests of Honour.

The statement also stated that: “Governors Babangida Aliyu of Niger State and his Akwa-Ibom counterpart, Godswill Akpabio, are Co-Chairmen and former Speaker of the

Benue State House of Assembly, Chief (Mrs) Margaret Icheen as Chairlady.

"Governor Suswam, his wife, Arc. Yemisi Dooshima Suswam, will be the Chief Celebrant and cocelebrant respectively, while the state Deputy Governor, Chief Steven Lawani, will be the Chief Host of the occasion.

Forerunners declare support for Jonathan re-election he Forerunners, a Tactors group of independent promoting re-

sponsible government in Nigeria has declared support for President Goodluck Jonathan’s re-election.

The group said it envisions a Nigeria in which a universal commitment to the wellbeing of its people is fuelled by successful national movements for political and social

justice.

It also “recognizes that change is successful only in a community self-participatory approach. Forerunners Group identifies with the unprecedented suc-

cess of the Goodluck Jonathan administration in good governance by enthroning credible democracy demonstrated in the successful conduct of recent Ekiti and Osun States elections.

AFRICA | NEWS

Sanctity of Truth

Monday, September 22, 2014

49

Kenya grieves one year after Westgate mall attack

R

elatives of the dead, survivors and shop owners converged outside Nairobi's Westgate Mall yesterday, lighting candles and laying flowers in memory of those killed a year ago when gunmen stormed the upscale mall. The attack killed 67 people and left Kenya's capital unsettled for days as militants battled with security forces, and people trapped inside tried to flee the fighting. A memorial plaque with the names of the victims was also unveiled in a separate ceremony at a forest on the edge of the city where people hike. Later, a candlelight vigil will be held at a museum.

At the memorial, Amu Shah

remembered his son Mitul, who was killed in the attack. "We have been completely shattered; our lives are not as they used to be," Shah said. "He was very lively, very helpful, and very cheerful. Anytime anyone needed any help, he was ready to go and help them." Police doubled patrols in Nairobi, chief David Kimaiyo said Saturday. They increased their presence in public places such as churches, supermarkets and malls after he warned residents to be "extra vigilant" in the coming weeks in anticipation of more attacks.

Al-Shabab militants claimed responsibility for the mall attack saying it was retribution for Kenya's troop presence in Somalia, the group's home base.

More recently, al-Qaida-linked al-Shabab vowed to avenge the death of their leader killed in a U.S. airstrike earlier this month.

While some held memorial ceremonies to commemorate the Westgate attacks, others tried to forget. Muimi Kiteme, 26, watched a football match Sunday in hopes it could help erase the memories of Sept. 21, 2013. Kiteme was shot at by the attackers when they arrived at the mall in a car just after midday. Since it was a weekend, the mall was packed with shoppers and families eating out, he said.

Kiteme, who was a driver for a vegetable supply company, was driving out of the malls service entrance into a junction, when

Relatives of victims of the Westgate Mall attack mark the first anniversary at a ceremony outside the shopping centre in Nairobi yesterday

Three years after Somali famine, new hunger crisis looms

W

hen African peacekeepers and Somali troops launched an offensive against Islamist militants in Somalia's small seaside town of Marka, Rukia Nur and her 10 children joined the stream of thousands who have fled to the capital in past months.

They now make their home in a sprawling camp in Mogadishu's outskirts - a place at the center of a growing hunger crisis three years after Somalia's devastating 2011 famine.

The United Nations said this month more than a million people in this war-ravaged country were struggling to meet daily nutritional needs.

The roughly 130,000 people displaced from their homes this year alone are bearing the brunt of the crisis. "Life is terrible. We are hungry," said Nur, amidst the dusty streets and shabby shelters where her family lives without basic amenities. "There are no toilets here.

We have to bury children' faeces in the sand like cats."

The exodus of people from their homes and poor rainfall is pushing Somalia toward a new crisis, hurting the government's bid to establish order after two decades of chaos and conflict.

It also highlights the challenges facing the 22,000-strong African Union peacekeeping force and the Somali army, which has driven al Shabaab rebels from more towns but struggled to protect supply lines from guerrilla attacks, so markets are left bare and inhabitants like Nur have little choice but to flee.

Marka, a sloping, whitewashed Indian Ocean town south of the capital, has been battered by years of fighting between al Shabaab and their rivals. In better times, Nur had supported her family by selling fire wood. Now, having sold all her belongings when she fled, she relies on handouts. Aid agencies, which conceded they

responded too late when famine last hit Somalia, are determined to do better this time but are struggling to raise funds and meet the growing needs.

Rudi Van Aaken, who heads the Somalia office of the U.N. Food and Agriculture Organization, said many retaken towns become isolated so food prices often double. In one major center, Baidoa, they have quadrupled. "Commercial traffic is just not taking place," he said. In the hard-hit Shabelle region, south of Mogadishu, the U.N. World Food Program (WFP) has been airlifting emergency rations by helicopter, a route that only meets basic needs.

The African troops, still the backbone of security for the government, have said they are working to make sure the offensive does not leave "ghost towns" but poor roads are easily targeted by experienced and skilled al Shabaab guerrillas.

a car sped past forcing him to stop, he said.

Four men disembarked from the car and he heard gunshots and his windscreen shattered.

"When we saw the car speed past us and the men with guns, my assistant asked me if they were shooting a movie," Kiteme said.

"When the windscreen shattered he was the first one out of the car. I turned back to talk to him and he was gone. I remained frozen in my seat" He said he saw a man with a black turban

point the gun in his direction and shoot. The bullet missed Kiteme and hit the cushion.

Kiteme said he got the chance to escape when the gunman bent over to pick up his black turban which dropped from his head. "I opened the door and crawled under the car. I could see the gunman's feet as he walked around the car looking for me," he said "I do not want remember. The things that I saw I want to forget this day. I am grateful to be alive, but I want to forget," he said.

Bomb kills two policemen near Egypt's foreign ministry

A

bomb blast near Egypt's foreign ministry killed two police officers and wounded several others yesterday, the Interior Ministry said, in the most serious attack in Cairo in almost three months.

There was no immediate claim of responsibility for the attack which killed two police lieutenant colonels. But the operation resembled ones carried out by Islamist insurgents seeking to topple the U.S.-backed government.

Egypt has faced rising Islamist militant violence since the army deposed President Mohamed Mursi last year and cracked down on his Muslim Brotherhood movement. The challenge has become more complex since Islamic State militants seized parts of Iraq and Syria in June and declared a caliphate, inspiring other militant groups including some based along Egypt's border with chaotic Libya. Islamic State es-

tablished ties with Sinai-based Ansar Bayt al-Maqdis and has been coaching Egypt's most lethal militant organisation, security officials and a commander in the group told Reuters.

Smoke was rising and people ran after yesterday's blast along a sidewalk in the neighbourhood of Boulaq bu Eila, just behind the Foreign Ministry, which is located in a high rise building beside the Nile. The blast caused a tree to fall on a car. Blood stained a busy intersection beside a crowded market. While the death toll was low, any attack in the capital is bound to cast doubt over the security forces, who have vowed to end Islamist militant bloodshed that has hammered the tourism industry, a pillar of the economy.

President Abdel Fattah al-Sisi, who as army chief removed the Muslim Brotherhood from power, has repeatedly expressed concerns about militancy in Egypt and other parts of the Middle East.

Jobless and poor, Ghana's youth turn to selling blood

T

o Ghana's legions of jobless young men, Eric Bimpong has a money-making proposition: sell your blood. Bimpong spends his days outside schools, bars and on the streets of poor neighbourhoods in Accra, scouring for teenagers and 20-somethings to give blood outside the capital's largest hospital. Commercial blood donors, as the authorities call them, fill a void in a country where blood is often in short supply and cultural and religious beliefs keep some from donating.

When a patient needs blood and the blood banks are empty and family and friends unavailable or unwilling to donate, the paid donors step in for a price.

"In this country, when people

go to the hospital, they don't want their relatives to know," to hide certain illnesses, Bimpong said. "So they come to us."

While their donations likely save the lives of bleeding patients, public health officials worry that the donors spread diseases like HIV or hepatitis to those who receive their blood. "It's abnormal. We don't really encourage this kind of donation," said Stephen Addai, a spokesman for Ghana's National Blood Service. (NBS) "Sometimes they don't even know their blood group."

Ghana has prospered in recent years off exports of gold, cocoa and oil as well as the country's reputation as a rare stable democracy in tumultuous West Africa.

50

WORLD | NEWS

Sanctity of Truth

Monday, September 22, 2014

New York gears up for historic climate march

C

elebrities, activists and political leaders were mobilizing yesterday to join tens of thousands of people to march through New York in what organizers hope will be the largest climate change protest in history. Hollywood actor Leonardo DiCaprio, former US vice president turned advocate Al Gore, UN Secretary General Ban Ki-moon and New York Mayor Bill de Blasio are due to take part in the "People's Climate March."

The event has been endorsed by more than 1,400

organizations, including environment, faith and justice groups, as well as labor unions. Students have mobilized marchers at more than 300 college campuses. The New York demonstration will take place alongside 2,500 marches and events all over the world, including large rallies in Melbourne, London and Paris.

The rallies will take place ahead of a climate change summit hosted by Ban Tuesday on the sidelines of the United Nations General Assembly. Ricken Patel, executive director of Avaaz, a pressure group that is

one of the organizers, will present a petition signed by two million people to Ban. "We feel very confident that we will achieve our goal, which is to have the largest climate change march in history," Patel told AFP. The protest will wind its way through midtown Manhattan

on a two-mile (3.2-kilometer) route starting at 11:30 am (1530 GMT). After a moment of silence, participants will be encouraged to use instruments, alarms and whistles to make as much noise as possible at 1 pm, helped by marching bands and the tolling of church bells. New York mayor

de Blasio announced that the Big Apple was committed to reducing its greenhouse gas emissions by 80 percent over 2005 levels by 2050. "Climate change is an existential threat to New Yorkers and our planet. Acting now is nothing short of a moral imperative," he said before the rally.

Ukrainians get solidarity in Russia

T

housands of Russians marched yesterday through Moscow to protest against the Kremlin's involvement in the Ukraine crisis, in the country's first major anti-war rally since fighting erupted in April. A huge column of protesters, including prominent opposition activists, moved through the heart of the capital to condemn Moscow's role in a conflict that has claimed nearly 3,000 lives and pitted Russians against Ukrainians.

Many carried blue and yellow Ukrainian flags and placards emblazoned with slogans such as "No to war" and "Putin, stop lying", chanting: "Ukraine, we are with you." "I believe that the war has been provoked

by Putin," said wheelchair-

bound protester Vladimir Kashitsyn, aged 44. "I want Putin to stop meddling in Ukraine's internal affairs."

"This war is a madness and crime against Ukraine, residents of Donbass and Russians," added 34-year-old Igor Yasin. The rally, dubbed "The Peace March", comes amid a Russian media blackout on the presence of Russian troops in Ukraine.

Kiev and the West say the Kremlin has sent in regular troops to prop up separatists fighting against Kiev. Moscow has denied the claim.

Some chanted slogans of Ukraine's popular uprising, which ousted pro-Kremlin president Viktor Yanukovych in February, such as "Out with the gang" and "Glory to Ukraine".

Demonstrators display placards and banners as they participated in Peoples Climate March in yesterday

Ahmadzai is new Afghan President

E

nding months of voterelated tension, Afghanistan's election commission named a new president yesterday hours after the two leading candidates signed a power-sharing deal that names one of them as the country's new chief executive. The commission named Ashraf Ghani Ahmadzai as the winner and next president and noted that Abdullah Abdullah will be the

next chief executive. But it pointedly did not release final vote totals amid suggestions that doing so could inflame tensions.

The deal brings to a close an election season that began in April, when millions of Afghans first went to the polls despite threats from Taliban militants, and ended when the two leading candidates signed a national unity government

Pope in Albania urges Muslims to condemn extremism

P

ope Francis called yesterday for moderate Muslims and all religious leaders to condemn Islamic extremists who "pervert" religion to justify violence, as he visited Albania and held up the Balkan nation as a model for interfaith harmony. "To kill in the name of God is a grave sacrilege.

To discriminate in the name of God is inhuman," Francis told representatives of Albania's Muslim, Orthodox and Catholic communities during his half-day visit to Tirana.

Security was unusually tight for the pope's first trip to a majority Muslim country since the Islamic State group began its crackdown on Christians in Iraq and announced its aim to extend its self-styled caliphate

to Rome. The trip was preceded by reports that militants who trained in Iraq and Syria had returned and might pose a threat.

The Vatican insisted it had no reports of specific threats and that no special security measures were taken. But Francis' interactions with the crowds were much reduced compared to his previous foreign trips.

His open-topped vehicle sped down Tirana's main boulevard, not stopping once for Francis to greet the faithful as is his norm.

He only kissed a few babies at the very end of the route, and then left quickly after his Mass ended without stopping. Snipers dotted rooftops along the route and uniformed Albanian police formed human chains to keep the crowds at bay behind

barricades, while Francis' own bodyguards stood watch, perched on the back of his car or jogging alongside. Albania's Interior Ministry promised "maximum" protection from 2,500 police forces and beefed-up patrols at border crossings.

In his opening speech, Francis told President Bujar Nishani, Albanian officials and the diplomatic corps that Albania's interreligious harmony was an "inspiring example" for the world, showing that Christian-Muslim coexistence wasn't only possible but beneficial for a country's development. "This is especially the case in these times in which authentic religious spirit is being perverted by extremist groups," he said. "Let no one consider themselves to be the 'armor' of

God while planning and carrying out acts of violence and oppression!" Francis said in the wood-paneled reception room of Tirana's presidential palace.

Muslims make up about 59 percent of Albania's population, with Catholics amounting to 10 percent and Orthodox Christians just under that, according to the country's official figures.

Muslims and Christians govern together and interfaith families are common, thanks to the nearquarter century when religion was banned under communism.

Later in the day, addressing Muslim and other religious leaders at a Catholic university, Francis said religious intolerance was a "particularly insidious enemy" that was evident in many parts of the world today.

agreement and embraced in a hug. U.S. officials lauded the deal and said they believed Ghani Ahmadzai would sign a security agreement soon after taking his oath of office that would allow some 10,000 American forces to remain in Afghanistan next year. After 13 years of war following the Sept. 11, 2001 attacks, all combat troops are to withdraw by the end of 2014. Ghani Ahmadzai and Abdullah signed the national unity government deal as President Hamid Karzai in power since the 2001 U.S.-led invasion ousted the Taliban looked on. It took weeks of negotiations to form a power-sharing arrangement after accusations of fraud in the June runoff vote.

"I am very happy today that both of my brothers, Dr. Ashraf Ghani and Dr. Abdullah Abdullah, in an Afghan agreement for the benefit of this country, for the progress and development of this country, that they agreed on the structure affirming the new government of Afghanistan," Karzai said after the signing.

The deal is a victory for U.S. Secretary of State John Kerry, who first got the candidates to agree in principle to share power during a July visit to Afghanistan.

ITF Africa Circuit: Team Nigeria invades Benin after Togo triumph Ifeanyi Ibeh

N

igerian players will be aiming to continue their dominance of the International Tennis Federation West & Central Africa Junior Circuit as the Benin leg of the series gets underway on Monday at the Tennis Club de L’Amitie, in Cotonou.

Team Nigeria emerged overall winners

at the Togo leg of the circuit with six gold, four silver and three bronze medals with Joseph Ubon accounting for three of the country’s gold medals.

Ubon completed two weeks of fantastic action on Saturday by beating Malawi’s Chisomo Luweta 6-3 6-3 in the boys’ final to retain the title he won against compatriot, Mohammed Mohammed in the opening week of the Togo leg.

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

The duo of Emmanuel Audu and Abubakar Tswako also won the boys’ doubles title by beating Gueninle Ouattara and Luweta of Malawi in the final The tournament in Benin is rated Grade 5 by the ITF and will have 48 players competing in the boys’ main draw while 32 players will feature in the girls’ draw that serves off on Monday.

Meanwhile, promising youngster,

NEW TELEGRAPH

newtelegraphonline.com/sports

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

MONday, SEPTEMBER 22, 2014

51

Christopher Itodo, will be taking part in the Africa Masters, which also gets underway on Monday in the Egyptian capital, Cairo.

The tournament will end on September 28 and Itodo, who will be competing in the age 14 and under category, was invited due to his performance in March’s African Junior Championship in Nairobi, Kenya.

Did you know?

That the 5-3 loss to Leicester City was the first time in their Premiership history (853 games) that Manchester United have thrown away a two goal lead and lost.

NFF Election: Dikko, Ogunjobi lead the pack Charles Ogundiya

A

head of the September 30 election of the Nigeria Football Federation, the duo of Shehu Dikko and Taiwo Ogunjobi, are currently leading the pack of the candidates aiming to become president of the federation.

The extra-ordinary general assembly of the NFF held in Warri on Saturday, September 20, unanimously approved Tuesday, September 30, as date for the NFF Elective Congress also scheduled for Warri, Delta State.

A member of the assembly who spoke with our correspondent on condition of anonymity said barring any last minute hitch, either Dikko or Ogunjobi would be voted the president of NFF with Dikko having an edge because he is from the Northern part of the country.

“Dikko is the anointed candidate of the outgoing president, Aminu Maigari.

He is also from the North which is an added advantage for him compared to other leading candidates like Ogunjobi and Amaju Pinnick.

“Ogunjobi would have been the preferred candi-

date but for the fact that he is not from the North, while Pinnick is riding on the back of the Delta State government’s support for the federation, he is also not from the North,” the source said.

He added that any of the three candidates would surely improve on the achievements of the last board led by Maigari.

“The three of them are credible candidates that will surely take Nigerian football to the next level. Dikko achieved so much in the past, the same for Ogunjobi. If we put into consideration Pinnick’s records in athletics, then Nigerian football will not suffer in his hands,” the source added.

Meanwhile Dikko has said he wished to be judged by what he has achieved in the past.

“I wish to be judged by my achievements in the various positions I have held over the years as regards marketing, sponsorship drives, administration and partnership with both private and public sectors.

“If elected president of the NFF, I will endeavour to open all channels of communication with all stakeholders because I have always believed in carrying everyone along,” he said.

Ogunjobi

Mikel

Van Gaal blames weak defence for defeat

Dikko

} p 53

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Sanctity of Truth

Monday, September 22, 2014

Anichebe’s injury affected Ideye –Irvine Ifeanyi Ibeh

W

“West Brom wouldn’t have spent that money lightly,” he added. “He came highly recommended by the recruitment team and it’s a recruitment team who has recruited successfully in the past.

They’ve seen plenty of things in him that are encouraging. He was one we wanted to get over the line.

“It’s still very early to be judging him but I’m hoping he’ll be able to show what he can do.”

Irvine accepts that some players settle quicker than others but insists Ideye can shine.

“I’ve seen Brown lash them in in training but he needs that moment during a game where it happens for him.”

est Brom coach, Alan Irvine, says the absence of Victor Anichebe has put pressure on new signing Brown Ideye who is struggling to score for the Baggies.

A lot was made of the fact that Irvine had not scouted Ideye before the player’s £10 million move from Dynamo Kyiv. But Irvine believes fans can expect to see an upturn in his fortunes after he finally moved into a new house last week.

“Brown is one who’s been thrown in at the deep end,” said Irvine. “If Victor Anichebe hadn’t been injured, he wouldn’t have gone into the side as quickly as he did. When he came off the bench at Southampton he made a big impact, but he needs time. He was thrown in and it can be a bit like a rabbit in headlights when you’re trying to cope.

“He has just moved into a new house this week. Other things, too, have to be dealt with and adjustments have to be made, but players get settled once they’re out of hotels.

“I moved out of the hotel as quickly as I could and it’s not ideal for players either.”

And Irvine believes the Nigerian will now start to show the quality that earned Ideye him his move to The Hawthorns.

hard-fighting Akwa United.

In other matches played on Sunday, Sunshine Stars defeated Abia Warriors 3-1, while in Port rown Football Club of Ogbomo- Harcourt Dolphins had to rely on second half sho were brought back to earth goals to defeat Gombe United 2-0. in Kaduna after a demoralising 5-0 defeat to fellow bottom side, Kaduna United.

Crown, riding high after a 3-0 midTWITTER |@NTelegraphSport week victory over Nasarawa United, Ideye Brown were helpless as the home side ran riot Feel so Good to have a First EPL win today,Great in the first half, with two goals in the game guys. #westaytogether #wba #GreatGod first 10 minutes of the game. @OfficialIdeye In Aba, Enyimba continued their Daniel Sturridge push for the title with an easy 4-0 win Super Frankie Lampard at it again.. Wow. He’s a legend @D_Sturridge over Bayelsa United while Kano Pil- man..... Salute.

Sport Trending

RESULTS NPL MATCH DAY 27 El-Kanemi 2-1 Heartland Enyimba 4-0 Bayelsa Utd Sunshine 3-1 Abia Warriors Kano Pillars 1-0 Akwa Utd Giwa 3-0 FC Taraba Dolphins 2-0 Gombe Utd Nasarawa Utd 2-0 Sharks Rangers 1-0 Warri Wolves Kaduna Utd 5-0 Crown FC Nembe 2-1 Lobi Stars

sunday mba Put God first !

Stories: Ajibade Olusesan

S

uper Eagles winger, Ahmed Musa, shrugged off Wednesday’s disappointing 5-1 drubbing of CSKA Moscow by Roma in the Champions League to lead the Russian club to a 1-0 win over city rivals Lokomotiv Moscow on Saturday.

The Nigerian scored the only goal of the match in the 33rd minute to take his league goal haul to three.

Nnamdi Oduamadi, Shola Ameobi and Imoh Ezekiel are also some Nigerian players who got on the score sheet for their clubs abroad at the weekend.

Oduamadi scored Crotone’s second goal in the 82nd minute as they beat hosts Bologna 2-0. That was his first since moving

I

Charles Ogundiya

lars maintained their stranglehold at Mario Balotelli the top of the league with a 1-0 win over Man utd ... LOL

Musa, Oduamadi, Ameobi, others hit target

Musa

to the club on loan from AC Milan.

Former Newcastle striker, Ameobi, scored for Gaziantep BB in their 1-1 home draw with Adanaspor on Friday. The strike was his first goal since moving to the Turkish second division team in last summer transfer window.

Super Eagles striker, Imoh Ezekiel, continue to

enjoy a rich vein of form in Qatar as he hit target in Al Arabi’s 4-0 win over Al Shamal. That effort was his fourth in the season and he is now on top of the goal scorer chart in the league.

Alhaji Gero underlined his new-found form in Sweden when he scored twice and gave two assists as his club Osters won 5-1 on Friday.

Ik Uche returns as Moses, Mikel dazzle

Kaduna United compound Crown relegation woes C

EAGLES EURO ROUND UP

kechukwu Uche passed last minute fitness to appear on Villarreal’s starting line up in their 4-2 win over Rayo Vallecano on Sunday.

There were fears that the striker might face another spell on the side line after he appeared to have injured himself during the club’s last Thursday 1-1 draw away at Borussia Monchengladbach in the Europa League but he surprisingly made it to the starting line-up.

Although he was not among the goals, he tor-

mented the opponents to free up space for his teammates to score. He had missed Yellow Submarines’ last two league matches due to a knock and has just one league goal to his credit this term.

Victor Moses has continued his fine form for his new club, Stoke City, as he played an influential role in their 2-2 draw at Queen Park Rangers on Saturday.The Nigerian winger had a hand in both Stoke goals although he did not get on

Onazi still missing as Omeruo hails Boro fans

@FinallyMario @mba_sunday

Kevin Love #ItsOnUs to stop sexual assault. I just took the pledge to be a part of the solution, and you can too @kevinlove Caroline Wozniacki Thank you Tokyo for a great week and the support! Not the final result I wanted, but 2 finals in 2 weeks isn’t bad! @CaroWozniacki Serena Williams Congratulations to Li Na. A sad day for tennis but I’m sure your future will be bright and the star you left on our sport will never dim. @serenawilliams Festus Ezeli Someone just told they were “frolfing”. What is this new fad now? @fezzyfel

the score sheet.

Similarly, Mikel Obi played a part in Chelsea 1-1 draw at Manchester City. The player was introduced in the 63rd minute to replace Willian. He has now played three league matches for the Blues but he is yet to start a match this term.

Super Eagles outcast, Sani Kaita, posted a man-of-the-match performance for Saxan Ceadir Lunga as they won 2-0 win over Tiraspol in the Moldovan league on Friday.

Omeruo (left)

O

genyi Onazi was listed by Lazio in their 1-0 loss at Genoa but he did not feature in the game. The midfielder is yet to play for the Capital club this season.

Godfrey Oboabona is still looking for action

in the Turkish league this term as he was also confined to the bench in Rizespor 2-0 loss at Mersin Odmanyurdu on Saturday.

Efe Ambfrose played full 90 minutes in Celtic 1-1 draw with Mother-

well at home, while Vincent Enyeama also did not let in a goal in their goalless home draw with Montpellier.

Similarly, Kenneth Omeruo who was in action for Middlesbrough at the weekend has attributed the team’s success to the unwavering support of the club’s supporters.

Boro climbed into the top five of the Sky Bet Championship with a 4-0 mauling of Brentford at the Riverside Stadium on Saturday.

“It was a great win against Brentford.

Thanks to our fans for a wonderful support,” said Omeruo.

SPORT | EURO FOOTBALL

Sanctity of Truth

Monday, September 22, 2014

RESULTS Premier League QPR 2 - 2 Stoke Aston Villa 0 - 3 Arsenal Burnley 0 - 0 Sunderland Newcastle 2 - 2 Hull City Swansea 0 - 1 S’ampton West Ham 3 - 1 Liverpool Leicester 5 - 3 Man Utd Tottenham 0 - 1 WBA Everton 2 - 3 C’ Palace Man City 1 - 1 Chelsea

Serie A Cesena 2 – 2 Empoli AC Milan 0 – 1 Juventus Chievo 2 – 3 Parma Genoa 1 – 0 Lazio Roma 2 – 0 Cagliari Sassuolo 0 – 0 Sampdoria

La Liga Elche

0-2

Eibar

Deportivo

2-8

Real Madrid

Bilbao

0-1

Granada

Atletico

2-2

Celta Vigo

Espanyol

2-2

Malaga

Sociedad

1-2

Almeria

Villarreal

4-2

Vallecano

Bundesliga Freiburg 2 – 2 Hertha Berlin Augsburg 4 – 2 Bremen Hamburger 0 – 0 Bayern Paderborn 2 – 0 Hannover 96 Schalke 04 2 – 2 Frankfurt Stuttgart 0 – 2 Hoffenheim Mainz 05 2 – 0 Dortmund Wolfsburg 4 – 1 Leverkusen

Tevez to honour Juve contract

Van Gaal blames weak defence for defeat L ouis van Gaal has admitted that Manchester United’s ‘weak’ defensive organisation was to blame for his side’s surprising 5-3 defeat against Leicester City.

“How is it possible to give this game away? We have given the game away,” Van Gaal told Sky Sports News. “Leicester have proven already in four games that they have a strong character and that when they are 3-1 down, you can play all the game with more possession but you cannot do these kind of things.”

To make matters worse for United, defender Tyler Blackett was shown a straight-red card late on.

But despite conceding eight times already this season, the Dutchman is confident in the ability of individual defensive players.

“It is not pleasant when players are injured or sent off but we can manage,” he continued. “I don’t think it is the weakness of our defence, it is the weakness of our defensive organisation from the team.

That we have to do better. You have to know when you can pass the ball

Tevez

Rooney (right)

Lampard denies Chelsea with late strike

F

rank Lampard denied his former club with a dramatic late strike as Manchester City fought back for a 1-1 draw against Chelsea at the Etihad Stadium.

Andre Schuerrle’s 71st-minute goal looked to have given Chelsea all three points after City had been reduced to 10 men with Pablo Zabaleta sent off.

Zabaleta picked up a second yellow for kicking Diego Costa and just minutes later Schuerrle capped off a flowing team move to tap in Eden Hazard’s ball across the

box at the back post.

However, Lampard - Chelsea’s all-time record scorer with 147 goals - acrobatically turned in James Milner’s cross from the left to level for City five minutes before time.

He refused to celebrate the goal, though, having left Stamford Bridge this summer after 13 years, and was given a standing ovation by the travelling Chelsea fans at the final whistle as he went over to show his appreciation.

Lampard

Ancelotti wants Real consistency

C

arlos Tevez is enjoying his football in Italy and has every intention of honouring his contract at Juventus.

Tevez told Gazzetta dello Sport: “Serie A is full of big players and it remains one of the most difficult leagues in the world.”

Pressed on whether he will stick around until 2016, he added: “Absolutely, yes.”

The 30-year-old is also enjoying working under Massimiliano Allegri following the surprise departure of Antonio Conte.

He said: “Allegri is a tranquil, intelligent person, a coach who knows a lot about football. He immediately commanded respect in the dressing room.

“Conte wanted me closer to the goal, Allegri asks me to diversify.”

and when you have to get rid of the ball.

“In this game, at 3-1 I felt we had played fantastic football but then you cannot make the errors we did. We have to continue and improve. We created a lot of chances, we scored fantastic goals so that is a plus but we lost the game and that is the most important thing.”

Next up for the Red Devils is a home match against West Ham United next weekend.

53

C

Ancelotti

arlo Ancelotti has called on Real Madrid to add more consistency to their game after Saturday’s 8-2 hammering of Deportivo La Coruna.

Real’s forward ranks combined to devastating effect at the Riazor, as Cristiano Ronaldo scored

a hat-trick while Gareth Bale and Javier Hernandez struck a brace each.

James Rodriguez was also on target for the visitors who bounced back in style domestically after back-to-back La Liga defeats to Real Sociedad and Atletico Madrid.

Mkhitaryan injury blow for Dortmund

B

orussia Dortmund’s Henrikh Mkhitaryan faces a spell of up to four weeks out after picking up a foot injury in Saturday’s loss at Mainz.

The Armenian midfielder played the final 25 minutes of Dortmund’s 2-0 loss at the Coface Arena - replacing Shinji Kagawa midway through the second half.

Mkhitaryan was involved in a collision when shooting at goal late in the game and underwentdiagnosisonSaturdayfollowing the team’s return to Dortmund.

The club confirmed on Sunday that the 25-year-old is likely to be sidelined for four weeksof actionandcouldthereforemissup to six games - including two UEFA Champions League fixtures and next week’s Ruhr derby against Schalke.

Mkhitaryan joins a lengthy injury list for Dortmund coach Jurgen Klopp, with Marco Reus, Jakub Blaszczykowski, Ilkay Gundogan,NuriSahinandOliverKirchalso currently out.

Mkhitaryan,whoarrivedfromShakhtar Donetsk in 2013, scored 13 goals in all competitions in his debut campaign last term.

Mkhitaryan

Real also put five past Basel in the UEFA Champions League on Tuesday and Ancelotti wants his side to offer a more consistent level of performance.

“We showed all the quality we have going forward,” the Italian said of

Saturday’s performance.

“We have a phenomenon [Ronaldo] and a lot of other top quality players.

They combined together really well and that was what stood out. However, we have to be even more consistent and improve the balance in the side.”

Balotelli racially abused after United dig

L

iverpool striker Mario Balotelli was the victim of racial abuse on Twitter on Sunday following his reaction to Manchester United’s shock defeat at Leicester.

Balotelli, part of the Reds side which lost 3-1 at West Ham on Saturday, tweeted: “Man Utd...LOL” in response to United’s 5-3 loss at the King Power Stadium.

His tweet was met by a string of racist messages, including one from an account called @CraigSainsbury which read: “F***

you Mario you f****** n*****. Go eat some bananas and get ebola you dirty monkey.”

The account from which the tweet was sent subsequently appeared to have been closed.

Balotelli has been singled out for racist abuse in the past.

He was heckled by Italy supporters during a pre-World Cup training camp in May and was on the receiving end of numerous instances of racist abuse during his time at Inter Milan and, more recently, AC Milan.

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Sanctity of Truth

Sarki follows in Olisadebe’s footsteps

Monday, September 22, 2014

lDumps Nigeria for Haiti

O

n June 14, 2002, history was made. A Nigerian scored a stupendous goal at the 2002 FIFA World Cup but the manic celebrations that followed did not erupt in Lagos, Abuja, Kano or Port Harcourt.

Instead, it was the fans in Krakow, Gdansk, Poznan, Warsaw and Wroclaw who erupted in wild celebrations.

This was because Emmanuel Olisadebe was representing Poland and not Nigeria, the country of his birth, at the highest level.

His expertly-taken goal in the third minute of the contest inspired the Poles to a 3-1 victory over the United States at the Daejeon World Cup Stadium.

Humble beginnings Born in the Nigerian city of Warri on December 22, 1978, Olisadebe first set foot on Polish soil in 1997 where he would team up with Ekstraklasa (Polish league club), Polonia Warsaw.

Olisadebe had turned heads in the Nigerian league with Jasper United (now defunct) as his 20 goals in 40 matches saw the club finish as runners-up in the Nigerian top flight in two consecutive seasons.

He also helped Jasper reach the semifinals of the now rested Caf Cup in 1997.

At Polonia, he hit 20 goals in 66 league matches and had the national selectors scrambling for his services, urging him to switch nationality and play for Poland.

The Polish fans loved him and showered him with adulation. He was nicknamed Emsi (after Emmanuel) and Olisadebowsky (after Olisadebe, his surname) as the supporters showed their keenness to make him “one of their own.”

He eventually made his national team debut for Poland in 2002 and took to his new environment like fish to water scoring eight goals in 2002 World Cup qualifying.

Olisadebe, who never represented

Nigeria at any level, went on to earn 25 senior caps for Poland scoring nine goals in the process.

A tale of two Emmanuels Nigerian football fans have now been dealt another blow. Another Nigerian footballer playing professional football in Poland has now turned his back on the nation of his birth.

Another Emmanuel has refused to return home to roost.

Emmanuel Sarki (on the books of Legia Warszawa) represented Nig eria at Under-17, 20 and 23 lev-

els.

H e will however not play for Nigeria at the highest level after opting to represent Haiti, the home of his maternal grandfather.

T h e n e w s came to many as a shock as Sarki had impressed at the junior and intermediate lev-

Sarki

els with Nigeria.

Along with John Obi Mikel and Chinedu Obasi, Sarki was once touted as the “future of Nigerian football” and duly joined Barclays Premier League club, Chelsea in 2006 even though he was loaned out to KVC Westerlo.

Jumping ship In August 2014, Sarki got a call up to represent Haiti at senior level and he grabbed the chance.

Sarki said he wanted to pitch his tent with Nigeria but was never given the opportunity to realise his ambitions.

“I got tired of waiting to be called up. I wasn’t considered good enough

by Nigeria national team selectors.

“I went to Israel same team with (Super Eagles defender) Efe Ambrose (Ashdod).

“I played 35 out of our 36 games in one season yet I still was considered not good enough. They (Nigeria) were adamant (that) I wasn’t needed.

“I have twice been told to pay some amount of money Olisadebe if I want to be invited (to play for Nigeria) but I declined on both occasions,” Sarki told SL10. ng.

Trail blazers Sarki thus joins Olisadebe and a host of stellar talent with Nigerian roots who represented other countries at senior level.

Emmanuel “Sheyi” Adebayor (Togo), Ogu-

chi Onyewu (USA), Angelo Ogbonna (Italy), Dennis Aogo (Germany), David Alaba (Austria), Stefano “Okaka” Chuka (Italy), Gabriel Agbonlahor (England), Patrick Owomoyela (Germany) and Nedum Onuoha (England) are just some of the well-known individuals who “slipped away.”

Former junior Nigeria international, Imama Amapakabo says footballers are sometimes faced with “impossible decisions.”

“Having represented my country in the past, I know how special the feeling is.

“Nigeria is blessed with lots of talented footballers scattered across the world and it is impossible for all of them to get a chance to play.

“I understand that they sometimes have to make impossible decisions because while it is an honour to represent the country of your birth, playing international football is sometimes too strong to ignore,” Amapakabo told supersport. com.

Sarki was an unused substitute in Haiti’s last international fixture - a 0-1 defeat to Chile at Lockhart Stadium, Florida but it is only a matter of time before he makes his debut for his chosen nation.

Adebayor

SPORT 55

Sanctity of Truth

Monday, September 22, 2014

AWC: Oparanozie dreams Oshoala partnership

…Says Nigeria will reclaim trophy Emmanuel Tobi

S

uper Falcons striker, Desire Oparanozie, has expressed confidence that her striking partnership with Canada 2014 FIFA Women’s U-20 World Cup most valuable player, Asisat Oshoala, will help Nigeria reclaim the African Women Championship trophy next month in Namibia.

Oparanozie while hailing Oshoala for emerging top scorer with seven goals at Canada 2014 maintained that the Falcons were poised to reclaim their lost glory by winning the AWC for the ninth time.

“It’s great that the Super Falcons camp is bubbling now in Abuja and I can’t wait to join the team especially playing alongside Oshoala upfront again. I’m proud of her achievement in Canada and I believe she will replicate her form at the AWC,” the En Avant de Guingamp of France player said.

“Playing with her and other experienced players like Pepertua Nkwocha and Stella Mbachu give me confidence because it makes my job easier as the top striker just like we did during the qualifiers,” she

added.

The former Wolsburg of Germany striker also praised the Falcons’ coaching crew led by Edwin Okon for bringing back the self-belief in the team after the woeful outing at the 2012 edition of the competition in Equatorial Guinea.

Similarly, Rivers Angel of Port Harcourt striker, Asisat Oshoala, said she was not under pressure to perform with the Falcons as she looks forward to scoring goals and helping the team triumph in Namibia.

“Before the U-20 World Cup I had featured for the Super Falcons in the AWC qualifiers where I played alongside Oparanozie upfront and we both scored four goals each.

“It is always a great time playing as her support striker because she is quick, strong and very technical. I hope to score more goals and help Nigeria win the AWC trophy,” Oshoala said.

The Falcons are grouped alongside Namibia, Ivory Coast, and Zambia in Group A and will play their opening game against the Ivoirians at the Sam Nujoma Stadium in Windhoek on October 11.

Nff Presidency: Dikko unveils website

H

istory was made in Nigerian football on Saturday in Warri when NFF presidential aspirant, Shehu Dikko, unveiled his website for the campaign.

Speaking to the media, Dikko pointed out that the idea of setting up the website was borne out of his desire to feel the pulse of the Nigerian football faithful.

“I want to have a platform where I will be able to relate with the football

fans out there. I want them to know what is on my mind about Nigerian football and I also want to get their feedbacks. That is the hallmark of good administration, getting to know how people feel out there and getting meaningful suggestions because no one knows it all”, he said.

Dikko believes the time has come to give Nigerian football a new dimension.

“It is instructive to note that NFF doesn’t even have an official website. Things

Kayode scores brace for Maccabi Netanya E

x-Nigeria U20 star striker Olanrewaju Kayode scored a brace to earn his Israeli club Maccabi Netanya a point in a 4-4 draw with Maccabi Petah Tikva.

The home draw earned Maccabi Netanya their first point of the two-week-old season.

The former ASEC Mimosas of Abidjan striker opened the scoring in the 15th minute to give his side a 1-0 lead.

Kayode then scored what looked to have sealed victory for his side in the 64th minute as Maccabi Netanya led 4-2, only for them to concede two goals later and drop two valuable points.

K ayo d e p l aye d for ASEC Mimosas (Cote d’Ivoire), FC Lucern(Switzerland).

He won Israeli second division league title in 2013/2014 and Israeli State Cup (FA Cup) silver medal in 2014.

have got to change. We have to change the dimension of Nigerian football so as to attract more corporate involvement. I have been at the centre of most private sector initiatives in Nigerian football for the past 10 years and that is what I am bringing to the NFF. You will remember that I initiated the summer visit of Manchester United and Portsmouth to Nigeria in 2008. Those are the type of initiatives that will boost Nigerian football”, he added.

According to Dikko, the website. www.shehudikko.com, will outlive the NFF elections billed for September 30.

Oshoala

Oparanozie

Quadri inspires club to Portuguese Super Cup victory Charles Ogundiya

N

igeria’s table tennis star, Aruna Quadri, over the weekend inspired his Portuguese club, GD Toledos, to the Portuguese table tennis league Super Cup. GD Toledos defeated Sporting Lisbon 3-1 in the final.

Since moving to Portugal in 2010, Quadri has clinched two league titles, two Portuguese Cups and two Super Cups to increase his laurels in the European league.

Speaking after the victory, the world number 73 ranked player said beating Sporting to the title was not easy at all putting into consideration the array of stars in their ranks.

“I am really happy we defeated Sporting, it was one of the best moments for me so far in Portugal.

Despite the intensity of the game, I was not intimidated.

“It is the beginning of the season and I am so happy for the good start especially that I was able to win two matches in the encounter,” he said.

The Nigeria Civil Defence Corps officer is however planning to move to another European league next season preferably Germany or France.

“I am concentrating on how to help my club this season, but I will love to

move to a stronger league next year. With my new ranking (73), I stand a good chance of getting offers in top European leagues.

“I know I must step up my game this season to stand any chance of getting a new club for next season. I must continue playing Pro Tours so that clubs will be able to monitor my progress and from there better offers might come,” Quadri added.

We need Nkwocha’s experience – Okon Ifeanyi Ibeh

S

uper Falcons coach, Edwin Okon, has explained that he called up veteran forward, Perpetua Nkwocha, ahead of his team’s preparations for the African Women’s Championship because of her vast experience in international football.

The 38-year-old Sunana SK of Sweden player first took part in an AWC tournament in 2002 and has gone on to take part in six tournaments to date, winning the tournament with the Super Falcons on four occasions (2002, 2004, 2006 and 2010).

But even though she is now a shadow of the player who scored a record four goals in the 2004 final against CamTeam Manager, GoldenTouch Basketball Club, Amb. Huzi Mshelia eroon, Okon insists her (Left) presenting a patron certificate to the Director General, National wealth of experience just Orientation Agency, Mr. Mike Omeri during the endorsement cermight come in handy at emony held in Abuja at the weekend.

next month’s AWC in Namibia.

“I invited Nkwocha because she is a very important and experienced member of the Falcons,” said Okon. “The younger players would benefit from her experience as we seek to regain the AWC in Namibia.”

Aside Nkwocha, six other overseas-based players have been called up ahead of the AWC, but Okon has warned that all seven must report to camp early enough to fight for spots in the squad for Namibia, adding that there will not be automatic shirt for anyone.

“There will be no sentiment in selecting the squad that will try to regain the title that was lost in Equatorial Guinea two years ago. There is no automatic shirt for anybody, be it foreign or homebased,” he stressed.

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Why education policies matter for equality

M

uch of the debate on inequality focuses on its deleterious social and political effects and its impact on growth. But an equally important issue is what policies play a clear role in reducing income inequality.

The results of new study suggest that improvements in education— even more than factors such as government expenditure or financial sector development—have contributed in an important way to reducing income inequality within countries.

Growth-equality nexus In our study, we first explore whether a country’s income distribution becomes more equal as it grows richer—a question that has intrigued economists as far back as Simon Kuznets. Is income inequality reduced as countries grow more prosperous? Does this relationship depend on the country’s stage of economic development? What factors affect it?

Examining historical data, we found that increased prosperity, on average, leads to lower inequality.

A one percent increase in GDP per capita reduces the Gini coefficient— a measure of income inequality that ranges from 0 for perfect equality to 1 for absolute inequality—by around 0.08 percentage points.

Further, we found that growth in a country’s GDP boosts the relative income share of the poor and the middle class at the expense of the richest 20 percent. In other words, not only do the poor and the middle class benefit from growth, they actually benefit proportionately more than the rich.

These results hold true across regions and across different stages of development.

We tried to pinpoint exactly how increased prosperity helps reduce inequality. We discovered that education plays a key role. Indeed, our results suggest that education policies—particularly those that concentrate on equity and skills—can be among the most potent levers countries have to reduce income disparities over the longer term.

Role of technology If growth reduces inequality, how does this square with the increase in labor income and earnings inequality that has been observed in many countries over the past few decades?

Technology and globalization are two possible ways to explain this phe-

Guest Columnist Era Dabla-Norris

Okonjo-Iweala, Finance minister

nomenon. Technological change has conferred an advantage to those adept at working with computers and information technology. And global supply chains have moved low-skilled jobs out of advanced economies, depressing prospects of workers who previously held these jobs. Even in countries to which these jobs relocate, the initial beneficiaries are often the more skilled workers.

Education matters because educated individuals are better able to cope with technological and environmental changes that directly influence productivity levels. Indeed, better education is the best policy to help countries avoid the increase in income inequality that often results from technological change and globalization.

Policy implications So, what can be done? For many advanced economies, including the United States, bringing down inequality in the future means increasing the supply of highly educated workers.

Too many youth drop out of high school; too many high school graduates are not college-ready. Then there

In many developing countries, levels of educational attainment still remain uncomfortably low

Shekarau, Education minister

is the cost of higher education, which in the United States is prohibitively expensive for many families. These are problems that could be solved by better government policies.

In many developing countries, levels of educational attainment still remain uncomfortably low, with access to even basic education constrained by market failures and inefficient policies.

While the precise focus of policies necessarily varies across countries, a number of broad areas can sketched out. Education policies that help students achieve strong academic outcomes, continue on to higher levels of education, and acquire skills needed to succeed in a globally competitive economy can foster greater intergenerational earnings mobility and help reduce income inequality over time.

In developing countries, policies that promote equal access to basic education—such as cash transfers aimed at encouraging better attendance at primary schools or spending on public education that benefits the poor—could reduce inequality by helping build human capital and making educational opportunities less dependent on so-

cioeconomic circumstances.

• Era Dabla-Norris is a Deputy Chief in the IMF’s Strategy, Policy, and Review Department. She is currently working on strategic, analytic, and policy issues related to the stability of the international monetary system, financial deepening, reforms and productivity, and public finance.

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