Binder1tuesday,march4,2014 by Newtelegraphonline

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Tuesday, March 4, 2014 Vol. 1 No. 14

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l Dangote, Africa’s richest with $25bn

icrosoft founder, Bill Gates, has regained the top spot as the world’s

N150

Nigeria’s most authoritative newspaper in politics and business

With $76bn, Bill Gates regains top spot as world’s richest M

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richest person, according to Forbes magazine’s annual ranking of global

billionaires. Gates’ total net worth was estimated at $76bn

(£45.5bn) this year, up CONTINUED ON PAGE 3

Ex-CJN, Idris Kutigi is Chairman, National Conference

Fuel scarcity: Jonathan gives Alison-Madueke ultimatum

lPetrol now N250 per litre in Yola lNNPC injects 33 million litres into Lagos, environs ULTIMATUM

Petroleum Minister, Diezani Alison-Madueke ordered to end fuel scarcity immediately

Adeola Yusuf

he Federal Government has ordered the Minister of Petroleum Resources, Mrs. Diezani

Alison-Madueke, to fix the scarcity of Premium Motor Spirit (PMS) also known as petrol, rocking the country within five days.

A source at the Presidency said President Goodluck Jonathan, who is not happy with the long queues at filling stations and the exorbitant prices

petrol is being sold to Nigerians, gave the order yesterday. He summoned the minister and ordered her to ensure that queues dis-

appear in filling stations within the time limit. “Mr. President has been told different versions of the causes of fuel scarCONTINUED ON PAGE 2

No dictator in PDP –President lSays only PDP can rescue Nigeria lWe’ll reclaim our stolen mandate from Kwara APC - Akpabio

CAMPAIGN

President, other PDP chiefs in Ilorin, vow to defeat APC

Biodun Oyeleye Ilorin

resident Goodluck Jonathan yesterday told Nigerians that he is not a

L-R: Sambo, Muazu, Jonathan, Mark, Anenih and Akpabio...yesterday

AT A GLANCE

INSIDE

NEWS

POLITICS

BUSINESS

METRO

Ekiti 2014: Olubolade, Adeyeye, Fayose, 12 others beat PDP deadline Page 3

Kwara, a no-go area for PDP, says Saraki Page 15

FG loses N13bn to Nembe Creek Pipeline shut down Page 25

Fire razes Federal Government Girls College, Umuahia Page 12 & 45

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

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dictator. In fact, he said there are no dictators in the Peoples Democratic Party (PDP) because it is the most democratic party in the land. To him, PDP is the only party that can rescue Nigeria because it is owned by Nigerians unlike other parties owned by individuals. CONTINUED ON PAGE 2

Lagos

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No dictator in PDP, says Jonathan CONTINUED FROM PAGE 1

He also urged Nigerians not to be deceived by the propaganda of opposition parties because “it is only PDP that can take this country to where we want it to be”. Jonathan spoke yesterday at a grand reception for the party’s new members in Ilorin, Kwara State. He urged politicians to think first about the people before they think about themselves. To him, it is the people that matter most in political decisions and not personal interests. At the event, other leaders of the party declared with confidence that those who have left them will beg to come back just as the president insisted that contrary to claims by the opposition, Kwara belongs to the PDP. At the well-attended rally, which took place at the Metropolitan Square, Ilorin, were Jonathan, Vice President Namadi Sambo, Senate President David Mark, PDP National Chairman, Alhaji Adamu Mua’zu, PDP BOT Chair-

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man, Chief Tony Annenih, PDP Woman Leader, Kema Chikwe, Chairman of the PDP Governors Forum, Governor Godswill Akpabio of Niger State, Niger State Governor, Dr. Babangida Aliyu, Governor Liyel Imoke of Cross River State, deputy governors of Kogi, Sokoto states and Minister of Sports, Alhaji Bolaji Abdullahi. Others were Presidential Adviser on National Assembly Matters, Senator Makanjuola Ajadi, Senator Gbemisola Saraki, Mr. Dele Belgore, Chairman of the Federal Character Commission (FCC), Professor Shuaib AbdulRhaeem, Mr. John Dara as well as thousands of their followers. Jonathan, who described the PDP as the only party that can rescue the nation, said the era of imposition within the party was also gone as everyone now submits to the mantra of ‘one man, one vote’. He stated that the PDP belongs to the people and not an individual or a group of people. Other national leaders of the party also expressed confidence that members who defected recently will still return to the ruling party. The President said: “Today is a great day because as all the speakers that spoke first have spoken, Kwara is PDP. Kwara truly believes in PDP because for now, it is only PDP that can bring liberation. We ask ourselves why you

get yourself into politics. It is your people that matters in politics and not yourself. If you get involved into politics, you have to think about your people, not yourself. “People who think about the people follow the people’s party and PDP is the only people’s party. PDP is the party that even if you go outside Nigeria and you ask people from all over the world, which are the political parties we have in Nigeria? They will say, ‘PDP and others.’ “It is only PDP people that can take this country to where we want it to be. I say it without any contradiction because only in PDP that people like me can come from low level and stand here as the president of this country because PDP is not owned by any individual. It is not owned by any group of people, we do not have

dictators in PDP. We have leaders who believe in people. That’s why in PDP, we talk about one man, one vote, one woman, one vote and one youth, one vote. No more imposition. No more godfatherism. “If you are elected to do your work as a governor in PDP, we give you the freedom to do your work without any molestation. I am a president now, I have a governor in my state and I have never controlled him because he was elected by Bayelsans, he has to serve Bayelsans. He does not need to serve Goodluck Jonathan. Though we may monitor the activities of the governors, but we give them the freedom to work. That is PDP. It is only PDP governors that can do that. We do not own the country. We are all serving the people. We do not own the state; we are only serving the people. We do not own

the local government, we serve the people. “The National Assembly serves the people of Nigeria, we do not dictate to them. The governors serve the people of the state, the president serves the people of Nigeria and that is PDP. PDP is the only party that can liberate everybody. It is only PDP that can give you what you want.” Meanwhile, Governor Godswill Akpabio of Akwa Ibom State, has assured members of the PDP in Kwara State, that the party under the leadership of Jonathan and the National Chairman, Dr Adamu Muazu, would reclaim its stolen governorship seat from the All Progressives Congress (APC), just as he noted that what the people of Kwara State needed was not change but real change which only the PDP can bring. Speaking at the Ilorin

rally, Akpabio commiserated with the people of Kwara over the calamity which befell them during the last Sallah celebrations in the home of an APC chieftain, praying for the repose of their souls. Akpabio, who was accompanied by his governor colleagues to deliver a goodwill message to the new members, assured them that “with the turnout we have witnessed here today, it is clear that come 2015, the people of the state will come out enmasse to instal the PDP at all levels of governance just like you did in 2011. Kwara since the days of our late Baba, has always been playing national and not regional politics which the APC wants to impose on you. We are here today to join you to say no to oppression and intimidation. We are here to declare freedom over the state.”

Director General, National Orientation Agency (NOA), Mr. Mike Omeri (left) and the Director General, Institute of Peace and Conflict Resolution (IPCR), Dr. Joseph Golwa at the opening ceremony of Ethics First Value Re-Orientation Methodology for Change programme in Abuja …yesterday.

FG orders Alison-Madueke to end fuel scarcity CONTINUED FROM PAGE 1

city. But he believed the one given by the NNPC through the Minister of Petroleum Resources that long queues were caused by some marketers who hoard the product. “So, he has ordered the Minister to do the needful to ensure that the long queues disappear immediately. She has five days to effect this nationwide, according to what the President said” the source disclosed. New Telegraph gath-

ered that the Minister, through the NNPC, had insisted that the scarcity was caused by marketers who engage in hoarding for fear that the government may increase the pump prices of the product above N97 per litre. “You will see the result of this very soon because the minister had passed the directives to the NNPC, DPR and PPPRA,” he added. Describing the nationwide scarcity as artificial, the NNPC backed its argument by the disappear-

ance of long queues in Abuja filling stations after a thorough monitoring last week. The management of the Nigerian National Petroleum Corporation (NNPC) had at the weekend said it commenced fresh measures to halt what it described as artificially-induced fuel scarcity noticeable in some parts of the country particularly in Lagos and its environs. Acting Group General Manager, Group Public Affairs Division of the

Corporation, Dr. Omar Farouk Ibrahim, stated in a statement that the NNPC, in conjunction with the Department of Petroleum Resources (DPR) and the Petroleum Products Pricing Regulatory Agency (PPPRA) will commence detailed monitoring of fuel stations in Lagos and its environs. The monitoring will also be extended to “any other state to checkmate the incidence of hoarding and panic buying of fuel. “We tried it in Abuja and its environs and to-

day, the effective monitoring has decimated the hitherto long fuel queues in Abuja. We are extending the extensive joint monitoring to Lagos,’’ Ibrahim said. The NNPC spokesman stated that as the supplier of last resort, the Corporation is doing everything within its mandate to alleviate the avoidable hardship caused by the fuel situation. He reiterated that the Federal Government has no plan to increase the C O N T I N U E D O N PA G E 3

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Tuesday, March 4, 2014

Ekiti 2014: Olubolade, Adeyeye, Fayose, 12 others beat PDP deadline CANDIDATE Fifteen aspirants on the platform of Ekiti PDP beat deadline for submission of forms Adesina Wahab Ado-Ekiti

ifteen governorship aspirants including former Police Affairs Minister, Navy Capt Caleb Olubolade (rtd), former Governor Ayo Fayose, and former spokesman of the panYoruba socio-political group, Prince Adedayo Adeyeye, yesterday beat the deadline set by the Peoples Democratic Party (PDP) to collect Expression of

Interest and Nomination Forms to contest the June 21 election in the state. According to sources in the party, other aspirants who met the deadline include Deji Ajayi, Ambassador Dare Bejide, Peter Obafemi, Bodunde Adeyanju, Ropo Ogunbolude, Gbenga Aluko, Adebisi Omoyeni, Abiodun Aluko, Bode Olowoporoku and Wale Aribisala. This list also includes two women, Bola Oloyede and Cecilia Dada, who only paid N1 million for the Expression of Interest For m in accordance with the policy of the party.

Other male aspirants paid N10 million for Nomination Form as well. As expected, the list

207:100

of aspirants was dominated by people from Ekiti South Senatorial District where there has been strident call

The ratio of men to women in Qatar, (the world’s highest). Source: Telegraph.co.uk

for the area to be allowed to produce the next governor of the state. The area has seven

The world’s position of Nigeria’s gross domestic product (GDP). Theodera.com

aspirants on the list. With the development, the long list of aspirants has been reduced from 32 to 15.

$4,384bn

The gross domestic product (GDP) of Japan (the world’s second largest economy).. Source: Telegraph.co.uk

With $76bn, Bill Gates regains top spot as world’s richest CONTINUED FROM PAGE 1

from $67bn in 2013. His rise in wealth knocked Mexican telecoms tycoon Carlos Slim off the top spot into second place. In total, there were a record 1,645 billionaires, according to Forbes. The funds needed to make it into the top 20 ranking are now $31bn, up from $23bn last year, Forbes said. Gates has been top of the list for 15 of the last 20 years, according to Forbes. Technology firms featured heavily in the list, with Facebook founder, Mark Zuckerberg, becoming the biggest gainer in net worth. His fortune more than doubled to $28.5bn, boosted by a sharp rise in the price of the social network’s shares. The social network’s chief operating officer, Sheryl Sandberg, also made the list for the first time. WhatsApp founders, Jan Koum and Brian Acton, entered the list at number 202 and 551 respectively, thanks to

Facebook’s $19bn purchase of the messaging app. US continues to dominate The world’s largest economy, the United States (U.S.), continues to have the most billionaires, with 492. By region, Europe boasted the most billionaires outside the U.S., with 468 in total, closely followed by Asia, which had 444 billionaires. The list suggested that wealth was spreading, with four new countries featuring for the first time - Algeria, Lithuania, Tanzania and Uganda. Nigeria’s Aliko Dangote, Africa’s richest man, became the first African to be listed in the top 25, with a net worth of $25bn. Landlord Gerald Grosvenor and family were the richest British family to make the list, with a net worth estimated at $13bn. Known formally as the 6th Duke of Westminster, he owns 190 acres in Belgravia, an area adjacent to Buckingham Palace and one of London’s most expensive neighbourhoods.

L-R: Yakub Abdullahi, Ibrahim Shuaibu, Bilyaminu Usman, Sahabi Ismahil, Umar Farouk, Yasir Salihu, graduate of English Literature and Musa Abubakar, suspected Boko Haram terrorists who allegedly killed Kaduna State Islamic scholar, Sheik Auwal Musa Abani, his wife and son paraded at the DSS headquarters in Abuja... yesterday PHOTO: Timothy ikuomenisan

Fuel price hits N250 in Adamawa CONTINUED FROM PAGE 2

price of petrol as being speculated. “It is pertinent to state, for the umpteenth time, that there is no plan by the Federal Government to increase the price of petrol. Once again, we appeal to marketers to refrain from hoarding and to members of the public not to engage in panic buying. “We are convinced that in the days ahead, the fuel situation will normalise as there are enough petrol to go round,’’ he said. In Yola, Adamawa State, a litre of fuel was sold for N250 yesterday. Aside a few filling stations selling for N250, almost all the filling stations were closed down. However, the commodity was available at road side `black markets’ and filling stations owned by independent marketers

on most major roads and streets. The filling stations owned by the major marketers such as Total, Conoil and Oando, were also shut down due to shortage in the fuel supply system. Mr Gibson Audu of the Total Filling Station on Banks Road, Jimeta, said that the scarcity of petroleum products was caused by inadequate supply from Gombe and Warri loading depots. “Anytime the fuel is available, we will sell it because the situation is seriously affecting us,”Audu said. At some black market filling stations in Jimeta and Yola, petrol is being sold at N250 per litre. Mr Haruna Jibo, hawking on Jimeta-Yola road, said that he bought petrol from some filling stations in the night at a cost of N150 per litre. ``We sold it to motorists

between N200 and N250 per litre,” Jibo said. The situation had forced commercial motorists plying Yola-Jimeta road and other routes to charge additional 10 per cent fare. A top official of NNPC Yola depot declined to comment while the state Chairman of Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Yahya Tobacco, was said to have travelled to Abuja. Meanwhile, the NNPC on Monday supplied an additional volume of 33 million litres of premium motor spirits to the Major Oil Marketers Association of Nigeria, (MOMAN) who have run dry of the product. These supplies, the management of NNPC said, were for onward distribution to fuel stations across the metropolis and beyond.

Acting Group General Manager, Group Public Affairs Division of the Corporation, Dr. Omar Farouk Ibrahim, who stated in a statement, maintained that this measure is part of its determination to ease the discomfort being experienced by motorists and commuters in Lagos and its environs. The extra volume of 25,000 metric tonnes of fuel, the equivalent of 33 million litres of petrol, was supplied to the marketers as part of measures by the Corporation to end the artificially-induced scarcity. ``While we intensify our ongoing direct monitoring of fuel stations across Lagos and its environs, we are providing the extra volume of product to eliminate the noticeable queues arising from the induced scarcity,’’ Ibrahim stated.

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Tuesday, March 4, 2014

36 killed in fresh Boko Haram attack lDefence headquarters denies human rights abuses lJonathan approves conversion of National Park Service to para-military MASSACRE Fundamentalists invade Borno village in another deadly night raid. Ibrahim Abdul, Emmanuel Onani and Philip Nyam

undamentalists went on the rampage again in Borno State on Sunday night, killing 36 people.

The latest attack occurred in Mafa, headquarters of Mafa Local Government. Houses were also razed. This incident happened barely 24 hours when another set of terrorists laid an ambush on Mainok village, killing over 40 residents while sacking the whole community and destroying property worth millions of naira. In the past week, over 200 people have been killed while property worth billions of naira were de-

stroyed in separate attacks masterminded by Boko Haram insurgents in Borno and the neigbhouring Adamawa state. The gunmen, it was learnt, invaded Mafa on Sunday night where they had a field day after overpowering the security operatives on guard and wreaked havoc on civilians. The gunmen, according to sources, came into Mafa town using Hilux Toyota vans armed with AK47 rifles, Improvised Explosive Devices ( IED’s ), Rocket

Propelled Launchers, petrol bombs and opened fire on residents who were asleep, killing many people. Others were injured. A resident of the town, who escaped the attack, said corpses littered the community. He said he saw casualties on both sides of Boko Haram and security personnel. Borno State Police Commissioner, Mr. Lawal Tanko, confirmed the incident. Meanwhile, the Defence Headquarters has assured

L-R: Special Adviser to Kwara State Governor on Political Matters, Alhaji Bibire Ajape; Financial Secretary, National Union of Road Transport Workers, Alhaji Abdulrasak Badmus; Secretary, Road Transport Employers Association of Nigeria, Alhaji Faruk Opeloyeru; Kwara State Governor, Dr. Abdulfatah Ahmed and the Secretary to the State Government, Alhaji Isiaka Gold, during the unveiling of the 100 units of taxis for Kwara State transporters at Government House, Ilorin...yesterday

N15.5bn

The total export value of printed books, brochures, leaflets in single sheets of Nigeria in the second quarter of 2013. Source: National bureau of statistics

N20.98bn

The total export value of imported motorcycles and cycles, imported CKD by established manufacturers of Nigeria in second quarter of 2013. Source: National bureau of statistics

$92.47bn The total export value of Nigeria (2011 est.). Source: Theodera.com

the public and the international community of the military’s firm resolve to adhere strictly to the rule of engagement and respect for the rights of civilians in its ongoing war against insurgency in the NorthEast. Director of Defence Information (DDI), MajorGeneral Chris Olukolade, gave the assurance Monday, in a telephone conversation with New Telegraph. The DDI’s clarification came on the heels of an online report alleging human rights abuses on the part of government and security agencies, including the military and the police. According to the Defence spokesman, the troops currently engaging members of the Boko Haram sect in Borno, Adamawa and Yobe states three Northeast states under emergency rule - were trained soldiers, who know the consequences of violating human rights. He said: “The military takes extra-ordinary care in its operations in the Northeast and any other area where they are deployed, and it will amount to not recognising the efforts the Nigerian military has been making in containing insurgency in the Northeast.” Meanwhile, the Force headquarters yesterday, refused to react to the report. When New Telegraph spoke with Frank Mba,

the Force Public Relations Officer (FPRO), he said that he could not be “stampeded into responding to a report I have not seen.” As part of measures to arrest terrorism, President Goodluck Jonathan has approved the classification of the Nigeria National Parks to a full-fledged paramilitary organisation. Director General of the National Park Service, Alhaji Haruna Tanko Abubakar, disclosed this yesterday when he appeared before the House of Representatives Committee on Environment to defend the 2014 budget proposal. He said the decision of the Federal Government to approve the conversion was due to the fact that the National Parks facilitates intelligence gathering for the military. The approval of the para-military status, according to the director general, is consistent with the National Park Service Amendment Act 2006, and will enable the organisation to cope with the daunting task of Park protection and conservation. The parks cover a total land area of 24,000 square kilometers while its staff trek long distances on rugged terrains and weather conditions to protect the fauna and flora domicile in the parks and in the process risk attacks by both marauding wild animals and poachers.

Boko Haram: APC demands arrest of Jonathan’s aide, Omokri Julius Toba Abuja

he All Progressives Congress (APC) has called on the Department of State Security Services (DSS) to immediately effect the arrest of a presidential aide over alleged misinformation. The party also issued a warning to the presidency not to seek profits from the Boko Haram insurgency, currently rocking Borno, Adamawa and Yobe states. The APC said this in a statement yesterday in La-

gos by its Interim National Publicity Secretary, Alhaji Lai Mohammed. APC alleged of how Reno Omokri, an aide to President Goodluck Jonathan on Media (Internet/ Social Media) had made repeated attempts to link the suspended CBN governor, Sanusi Lamido Sanusi, with Boko Haram. The party said: “The best way to know the answers to these questions is for the State Security Service to immediately arrest and question Omokri on why he was trying to act

by subterfuge to misinform Nigerians” Upon his arrest, the APC also wants the SSS to find out from Omokri how long he had been engaged in what it called “this shameful and irresponsible act” Another request by APC was that SSS must find out about Omokri’s connections with Boko Haram if there is any. The party also tasked the agency to begin investigation into whether or not Omokri’s handlers, among which it mentioned Presi-

dent Goodluck Jonathan approved of his chicanery. According to APC, ‘’The best way to know the answers to these questions is for the State Security Service to immediately arrest and question Omokri on why he was trying to act by subterfuge to misinform Nigerians, how long he has been engaged in this shameful and irresponsible act, what his connections are, if any, with Boko Haram, and whether or not his handlers, including the President, approve of his chicanery,’’

It added that the failure of the aide to link Sanusi with Boko Haram had again shown conspiracy of the presidency and past Boko Haram attacks. APC specifically alleged that Omokri had recently attempted to push an article he authored into the public domain, by using a fake name, thereby calling it the clearest indication that the presidency had a case to answer. It, however, raised questions like: “Is the presidency trying to gain political mileage from the death

of innocents Nigerians, including school children, whom it could not protect? Could this be why the government has largely treated the insurgency with levity, especially in its early days? Does the presidency know more than it is telling Nigerians on Boko Haram? Is there a government Boko Haram that acts on instructions from some quarters? Is anyone in government profiting financially from the battle against Boko Haram that they may be sabotaging efforts to end the insurgency?”

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Tuesday, March 4, 2014

Tukur targets Africa for Nigeria’s modern railway system

L-R: Head, Marketing, Nutricima Limited, Mrs Wande Oluwasegunfunmi; Assistant Director/Coordinator, Lagos Zonal Office of the National Lottery Regulatory Commission, Mr. Fidelis Ajibogun; Assistant Manager, Legal, Lagos State Lotteries, Gbemi Ajibose; Category Marketing Manager (Standard Milk) and Director, Regulation & Monitoring, National Lottery Regulatory Commission, Prince Emmanuel Jeminiwa, at the first e-raffle draw of Nutricima Mega Cash Consumer Promo in Lagos

Public Relations Executive, MultiChoice Nigeria, Mr. Timothy Okwu (left), presenting a Samsung tablet to one of the winners, Mrs. Josephine Iorvihi during the presentation of DStv Samba 2014 “Let”s go to Brazil” promo held at the MultiChoice office in Abuja…yesterday

L-R: Second Deputy National President, Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Iyalode Alaba Lawson; President, Taiwan/Africa Industry Development Association, Mr. Mike Hung; President, NACCIMA, Alhaji Mohammed Abubakar and Director-General, Dr. John Isemede, during the third Nigeria-Taiwan Joint Business Council meeting at NACCIMA House, Ikeja, Lagos… yesterday PHOTO: GODWIN IREKHE

lhaji Bamanga Tukur, the new Board Chairman, Nigeria Railway Corporation (NRC), on Monday said the board was committed to running the rail line from Nigeria through the countries in Africa. Tukur said this at the NRC headquarters at Ebute-Metta in Lagos, during his maiden corporation facilities’ tour with board members. He said the Transformation Agenda of President Goodluck Jonathan was working, considering the revitalisation which was observed during the tour. ``The Railway Transformation Project is awakening the sleeping giant of Nigeria. The opportunity is tremendous, and we will work hard

under this leadership. I think the sky should be the limit. ``Nigerians should be given what they deserve, and we will give Nigerians a modern railway system, with determination. ``I can see the zeal, and the desire to give the best. I believe that the Federal government will provide what it requires for the management of railway to meet the need. ``My vision for railway in Nigeria is to build a modern railway for a modern society. I have seen the Chinese built 30,000 miles of rail from Beijing up to Hamburg. ``Nigeria’s railway can even part Africa into two. Why not Lagos to Cotonou and to other countries? It can be done.

``My vision is Africa. I am looking forward to one day when Nigeria’s rail will move up to Cairo, to Dar es Salaam from Lagos and vice-versa,’’ Tukur said. The board chairman said his wealth of experience, which made him to build 13 ports for Nigeria Ports Authority (NPA) within five years, could help him transform the NRC. ``When the NPA was in the same situation, I and the authority’s management built 13 ports for the authority within five years. ``If we can do it there, why not here with the members of the NRC board? With the past record, the will and the capacity, we can do more in NRC,’’ Tukur said.

Mega drug distribution centre, open drug market to operate together – NAFDAC Bayo Akomolafe

he National Agency for Food, Drug Administration and Control (NAFDAC) said yesterday that the new mega drug distribution centres would not cause closure of drug open markets in Nigeria. The Director of Planning, Research and Statistics, Dr Samson Adebayo, told the News Agency of Nigeria (NAN) in Onitsha that mega drug distribution centres would serve as a model for drug businesses. ``I categorically told you that the agency does not have the intention of

closing down the HeadBridge Drug Market. ``The drug mega distribution centre is just going to complement the Head-Bridge Drug Market. ``So, I made it very clear and I think everybody went away with a better understanding of the facts. ``Even when somebody asked, ’how can two captains be on a ship?’ I made it clear that the mega drug distribution centre has come to be just as the Head-Bridge Drug Market,’’ he said. The Head of NAFDAC in Anambra, Dr Christiana Esenwah, however,

said that the agency would soon issue guidelines to be complied with by all drug traders in the open market. Esenwah added that no regulatory body would tolerate what most of the drug traders in open market were doing ``NAFDAC is by no means supporting the sale of drugs in open market; all we are out to do is to streamline activities of these people. Make them operate in the right environment. ``I bet you, no regulatory body will allow them to operate the way they are.

Customs boss detains officials over sharp practices at port Bayo Akomolafe

ome officials of the Nigeria Customs Service (NCS) were arrested yesterday by the Comptroller-General, Alhaji Abdullahi Dikko over anti trade practices President Goodluck Jonathan left receving a gift of a horse from the Emir of Ilorin, Alhaji Sulu Gambari, at Tincan Island Port. during the President’s visit to the Emir in his palace in Ilorin…yesterday It was learnt that the

PHOTO:TIMOTHY IKUOMENISAN

customs boss stormed the command without notice and queried some officers over discrepancies discovered from clearing documents. A source at the command alleged that a deputy comptroller (names withheld) was arrested

along with some officers. The Public Relations Officer of the command, Mr Chris Osunkwo confirmed that the Comptroller-General was at the command yesterday and queried some officials but he denied the arrest of the deputy comptroller.

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FORMS

CBN moves to get more background information customers

Segun Edwards

he Central Bank of Nigeria (CBN), said it is collaborating with relevant stakeholders in the banking industry, to develop uniform account opening forms for customers. The apex bank explained that the move was to ensure that depositors in banks and other finan-

Tuesday, March 4, 2014

CBN introduces Uniform Account opening Forms for customers cial institutions provide necessary background information for effective Know-Your-Customers’ (KYC) due diligence in the industry. It disclosed this in a circular to all banks and other financial institutions, titled: “Uniform Account Opening Forms and Minimum Information Requirement for Three-tiered KYC for

NUT condemns competency test for teachers in Edo Olushola Ricketts

igeria Union of Teachers (NUT) has said that the competency test introduced by the Governor of Edo State, Adams Oshiomole, is designed to render teachers jobless. Speaking to journalists yesterday at the union’s secretariat in Lagos, the NUT National President, Comrade Michael Alogba, said that in contemporary employment, Industrial and Labour Relations, competency of an employee is determined at the point of appointment. His words: “… teaching is a service industry and not a product

industry like brewery, textile and manufacturing, where products pass through quality control mills to qualify for the market, and while the Training Need (TN) is designed as the gap between the management and efficiency. In teaching and other service industries, competency is behavioural and not mechanical.” He declared that the union considered the competency test as a diversionary ploy by Comrade Adams Oshiomole who has not resolved the issue of 27.5% Teachers Special Allowance and still has the issue of promotion of teachers to contend with.

Kwara empowers taxi drivers with N50m cabs Biodun Oyeleye Ilorin

wara State Government yesterday unveiled an empowerment scheme for commercial transporters in the state with the distribution of 100 taxi cabs worth N50 million. Governor AbdulFattah Ahmed, who used the occasion to defend his decision to defect to the All Progressive Congress (APC), explained that between 2012 and now, his administration has committed almost N700 million towards

ensuring the sustenance of micro and small- scale businesses in the state. He said there was need for a platform “that will ensure that our people’s voices are heard and that their well-being is assured.” His commissioner for Commerce and Cooperatives, Alhaji Suleiman Alege, explained that the state's micro credit intervention scheme, which was flagged off in March 2012 with N250 million through the Cooperative business model has generated a turn-over of over N500

Customers of Banks and Other Financial Institutions in Nigeria,” posted on its website. The circular, signed by the Director, Financial Policy and Regulation Department, Kevin N. Amugo, noted that the uniformity in account opening forms is to ensure that Customer Due Diligence (CDD) is consistently and uniformly practiced in

81.9m

The largest number of tourists to la belle France in 2007. Source: Telegraph.co.uk

account opening process for prospective customers of financial institutions. It explained: “Individual prospective customers are required to complete account opening Form A(1), Form A(2) and Form A for accounts in tier one, two and three respectively, while legal entities are to complete Form B. “Whereas prospective

customers are required to provide the relevant information applicable to them as prescribed, existing customers are to regularly update their records in line with the formats.” The CBN had set new deposit limits for all categories of account holders when it introduced three-tier KYC requirements for banks. The policy pegs a

$61.63bn The total import value of Nigeria (2011 est.). Source: Theodera.com

maximum single deposit amount of N20,000 and maximum cumulative balance of N200,000 at any point in time on the Low Value Account. The policy also categorised bank customers into Low Value Accounts (Level forms); Medium Value Accounts (Level two) and High Value Accounts (Level three). The Central Bank had

93m

The total number of mobile broadband subscription of Africa in 2013. Source: itu.int/ict

L-R: Managing Director, ARESVEEPEE Limited ,Ms Kemi Koyejo, Project Consultant, Keskese Limited, Mr Tade Adekunle and Executive Director, Nigeria Food Fiesta Limited, Mrs Yinka Oguntoyinbo, during a Press Conference to announce the forthcoming Nigerian Foods & Drinks Exhibition, held in Lagos...yesterday. PHOTO:SULEIMAN HUSAINI

Northern Govs abolish fees in secondary schools FEES

Northern govs move to boost education from the region Dan Atori, Minna

orthern governors under the aegis of Northern States Governors Forum (NSGF) have agreed to abolish any type of fees paid in secondary schools in the region, just as it resolved to harmonise fees paid in tertiary institutions. Chairman of the Fo-

rum and Governor of Niger State, Dr Muazu Babangida Aliyu, made this known in Minna yesterday in a message he sent to the National Association of Niger State Students (NANISS) award ceremony to distinguished Nigerians which took place at the Idris Legbo Kutigi International Conference Center. "We have agreed to abolish any type of fees paid in secondary schools in the northern region because we want our children to further their education,

and we hope to do our best to extend it to the higher institutions," he said. Aliyu further disclosed that the forum has agreed to re-introduce the Grade Two teachers training programme abolished across the country several years back as one of the ways to improve the standard of teaching in the region’s schools. The governor, who was represented by the Niger State Commissioner for Tertiary Education, Dr Muhammad Bashir Nuhu, said the forum has

also decided to close the educational gap between male and female students in the region. Aliyu, who described education as the bedrock of any development, said they have also resolved to establish schools of preliminary studies to prepare students for admission into tertiary institutions not only in the region but in the country as a whole, adding that three of such institutions have taken off in Agaie, Ibeto and Tegina towns all in Niger State.

Tuesday, March 4, 2014

DEFECTION Gundiri alleges undemocratic practices in APC

Ibrahim Abdul Yola

former gubernatorial candidate under the Action Congress of Nigeria (ACN) who was also a stalwart of the All Progressives Congress (APC) in Adamawa, Markus Gundiri, yesterday formally defected to the People's Democratic Party (PDP) Gundiri, who made the declaration yesterday in Yola at a Press Conference said his decision to bid the APC a final farewell followed the undemocratic posture of the leadership of the party in the state. His decision, he said, came after consultations with his supporters who collectively endorsed the move. He alleged, among others that: "The state interim management committee was constituted without due recognition and respect for the interest of the senior partners in the coalition (ACN). "The leadership of the party was conceded to the chief executive of the state against the will of the members of the legacy parties at the state level, but was dictated by the national executive committee of the APC

Adamawa APC crisis: Gundiri finally decamps to PDP which was dictatorial and undemocratic. "The new PDP (members) that defected to APC refused to dissolve the illegal task force it put on ground before its entry into the APC in spite of repeated appeals to do so by stakeholders as earlier agreed. "The chairman also used the same task force to hijack membership registration materials to the extent that some peo-

5.3

ple had to register outside their units. "Several efforts made to make the state government to look into this act of breach of social contract were ignored,"Gundiri alleged. But in a swift reaction, the Interim Public Relations Officer of APC in Adamawa, Alhaji Salihu Baba Ahmed, said as far as APC was concerned, Gundiri was still a member as he had not formally

21%

The number of marriage divorcees per 1,000 persons annually in Guam. Source: Telegraph.co.uk

The percentage of Saudi Arabia oil reserves of the world’s total oil reserves. Source: Telegraph.co.uk

Judge says Ajudua's plea lacks merit

Joseph Jibueze

Lagos State High Court in Ikeja yesterday dismissed an application by Mr Fred Ajudua, seeking to quash charges brought against him by the Economic and Financial Crimes Commission (EFCC). Justice Oluwatoyin

tion than meet the eyes.” "Since the beginning of the journey, it’s clear in his body language that Gundiri was just buying time,’’ he said. He added that the task force Gundiri complained about had been dissolved long ago and that the only meeting the task force conducts is the routine caucus meeting being the block that harbors the new PDP before it merged into the APC.

41%

The global rate by which households are connected to the internet. Source: itu.int/ict

Governor Peter Obi (left), receiving Silverbird Man of the Year, from Ben Murray-Bruce and Mr Odein Ajumogobia during the award ceremony in Lagos.With them is Obi’s wife, Magaret.

Ajudua loses bid to quash N1bn fraud charges TRIAL

withdrawn his membership of the party. "For us to acknowledge his defection, he has to go back to his ward and tender his membership card or even come to the state interim committee and tender the membership card," he said. Ahmed was emphatic that ‘’Gundiri has never tendered any complaint before the state interim committee,” adding “there is more to his defec-

Ipaye fixed March 11 for his arraignment. The commission charged him with defrauding a former Chief of Army Staff, Lt. Gen. Ishaya Bamaiyi (rtd), of $5.9 million (about N1 billion). Ajudua's lawyer, Olalekan Ojo, had objected to the charge, saying it was brought under a repealed law. But ruling on the objection, the judge held that it lacked merit. "It is hereby dismissed in its entirety,"

the judge said. Ojo had argued that Section 262 of the Administration of Criminal Justice Law (ACJL) of Lagos State contravened Section 36 (c) 1999 Constitution in that it deprives the defendant the right to fair hearing. But the judge held that the ACJL only acts to expedite criminal trials and does not violate a defendant's rights. "Section 262 is in furtherance of the accused person's rights

to fair hearing. It does not violate the Constitution," she said. On Ajudua's request that the court should order that Bamaiyi be tried for alleged moneylaundering, the judge said there was no basis for such an order. Justice Ipaye said the court only deals with hard facts and not sentiments. "This court will not go on a voyage of discovery," she said. After the ruling, Ojo applied for a date for an arraignment, saying his client intended to raise another objection on "defects" in the charge.

NEWS

Fashola dedicates Silverbird Award to tax payers Sony Neme

agos State Governor, Babatunde Raji Fashola, (SAN) and Governor Peter Obi of Anambra State were on Sunday named joint winners of the Silverbird Television Man of the Year. Fashola, who received a standing ovation at the ceremony, thanked the Silverbird Group for the honour, adding however, that he wasn't the rightful owner of the award, but the Lagos public servants and taxpayers whose cooperation and commitment have helped him achieve the success being celebrated. Expectedly, each recipient expressed delight over the award which votes were determined by the Nigerian public. While Obi warned of consequences that await children of the ruling class should they fail to do the needful, Fashola harped on the need for policies and the will to chart a way for a better Nigeria. In his welcome message, Ben Murray-Bruce, Chairman, Silverbird Group, said Nigerian voters had adjudged both Governors Fashola and Obi, as joint winners of the 2013 Silverbird Man of The Year Award, having impacted most positively on their lives.

Court okays Okocha’s bid to be joined in Rivers suit against NJC Charles Onyekwere Port Harcourt

Federal High Court sitting in Port Harcourt, Rivers State, has granted Justice Daisy Okocha leave to be joined in the case instituted against Nigeria Judicial Council (NJC) by the Rivers State Government. In his preliminary ruling, Justice Lambo Akombi, noted that Okocha is an interested party in the case and that failure to join her in the case

would jeopardize her interest and lead to miscarriage of justice. Briefing, reporters, after the court session, counsel to Justice Daisy Okocha, Chief Emmanuel Okala, (SAN), commended the justice for his courage and stated that his ruling was ‘the right step in the right direction’. In his own response, counsel to NJC, Deji Lasisi, (SAN) who felt elated also lauded the courts’ decision.

10 NEWS

Tuesday, March 4, 2014

Fuel sells for N200 per litre in Adamawa SCARCITY

Long queues still at fuel stations as petrol price sky rocket Ibrahim Abdul Yola

otorists in Yola, Adamawa State are groaning as the nationwide fuel scarcity hits the city with a litre of petrol sell-

3,494

ing for over N200 per litre. Despite the high cost of the product, the queues in the few filling stations that have the product were long causing traffic jam on the major roads. Investigations by New Telegraph correspondent reveals that some filling stations in the capital city and its environ were closed down as the product was available in few stations, resulting to some motorist buying at the black markets at ex-

The total silver production (in tonnes) of Peru (the world’s highest). Source: Telegraph.co.uk

orbitant to buy. Some filling stations, owned by major oil marketers like Total, Conoil, and Oando prises among others were also shut down due to alleged shortage of fuel supply. A senior officer at Total filling station along Banks road, Jimeta, Mr. Gibson Audu said the scarcity of fuel was as a result of the short supply from Gombe and Warri loading depots. "Any time the fuel is

$10.1bn

The total external debt of Nigeria (31st December 2012 est.). Source: Theodera.com

available, we will sell it because the situation is seriously affecting us", he said. Meanwhile, black marketers, popularly known as ‘Yan chuwa-Chuwa", made up of unemployed youths were making brisk business. They were selling the commodity based on their own determined price. One of the black marketers, Dan Yaro Garba, who was selling the product along Jimeta-Yola

44%

The rate of inflation in Ethiopia, the second highest in the world. Source: Theodera.com

Cross section of parents and students reacting to the recent upsurge of killings by the outlawed Boko Haram Sects at the Federal Government College, Bunu Yadi, in Yobe State during their peaceful protest and presentation of letter to Governor Fashola for onward transmission to the President at the Lagos House Ikeja…yesterday

road said ‘We bought fuel from some filling stations at a cost of N150 per liter and we are selling between N200 to N 250 per liter’.

Ibadan church attack: Dead policemen not on duty – CP Sola Adeyemo Ibadan

YO police Commissioner, Mr Mohammed Indabawa, yesterday said that the two policemen shot dead by armed robbers on Sunday in Ibadan were on illegal duty when they were attacked. Indabawa told New Telegraph that his command would ensure that the robbers were fished out and the arms stolen from the dead policemen recovered. He disclosed this while parading nine armed robbery suspects at the Eleyele police headquarters, Ibadan. The dead policemen accompanied the vehicle driven to the Vine Branch Church, off

Rumours of impending terror attack end people scampering for safety

Sola Adeyemo

Muhammad Kabir Kano

alpable fear gripped the entire city of Kano yesterday following rumours of impending terror attacks by insurgents, leading to people, especially in government buildings, running for dear lives. The fear forced several ministries, departments and agencies in the city of Kano to shut offices in the middle of the day,

Terror ‘red alert’ in Kano, T as offices shut midday while hundreds of workers were seen rushing out of their offices. At the Audu Bako secretariat, where most of the state government buildings are located, almost all the exits to the secretariat were shut down, with only one left for workers to scramble out. Also, the entire buildings in the secretariat were manned by heavily armed security personnel who were alert to every moment of passersby. The state legislative chamber

which is also part of the buildings in the secretariat was completely shut down. Our reporter observed that workers of various ministries in the secretariat in large numbers hurrying out, while those in their vehicles drove out. A source who was around the High court inside the secretariat told our reporter that the judges and the judiciary staff had to abandon court premises and find their ways out of the secretariat.

Our source said the sudden decision to abandon work was as a result of the red alert received of possible terrorist attack. An official of the state assembly, who pleaded anonymity explained to our reporter that they were instructed to abandon their work and leave the secretariat immediately. He revealed that they were told that there was ‘red alert’, and that they didn’t understand what it meant.

Queen Elizabeth Road, Mokola, Ibadan by some bank officials to collect the day's offering and tithe. Unknown to the worshippers and the bank officials, some armed robbers had laid siege in the church and immediately they saw the banker, the robbers swooped on him, but they later realized that he had not yet got the money in his possession. They fired shots into the air, and congregants started running helterskelter for their dear lives. In the process, many sustained injuries. Simultaneously, other robbers outside the church shot dead the two policemen waiting in the vehicle.

Nigeria’s anti-gay law: Western world are hypocrites - NBC President Ibadan

TERROR ALERT

The scarcity has forced commercial bus drivers to charge high fare on short journey from Yola to Jimeta and other neighbouring communities.

he Nigerian Baptist Convention (NBC) has urged the federal government and the National Assembly not to succumb to the intimidation of the Western World on anti-gay law, describing the criticism by the United States of America as hypocrisy and double standard. The President of the NBC, Dr. Samson Olasupo Ayokunle, gave the advice recently in Ibadan, Oyo State capital on the heels of the ongoing Centenary celebrations in the country. Disclosing that the Nigerian Baptists came into being 164 years ago, Ayokunle said the church unions came together

in March 1914, asking why America and other western nations should described Nigeria's antigay law as a breach of human rights and fail to speak on polygamy, which Christians also abhor. "We want to urge Mr President and the National Assembly not to look back on what they have done well, neither should they succumb to intimidation from the Western World. Why is gay relationship a human right and polygamy is is not. I am not, by saying this, approving the practice of polygamy, but I am pointing the attention of the Western world to their double standard on issues and their hypocrisy. Not everything the West is doing is good."

NEWS

Tuesday, March 4, 2014

Fayemi wants confab to restructure Nigeria CONFAB

Selected delegates to conference charged to be good ambassadors of Ekiti state Adesina Wahab Ado-Ekiti

kiti State Governor, Dr. Kayode Fayemi, has urged the Presidency to utilize the opportunity provided by the proposed National Conference to restructure the skewed federalism being practised in the country. Speaking, yesterday, in Ado-Ekiti, while inaugurating the six-man delegation that will represent the state at the conference, he appealed to the Federal Government (FG) to provide the necessary legal backing for the conference, so that it would not turn out to be a mere jamboree and a waste of efforts and resources. According to him, "this confab is an opportunity to restructure the nation in a way that will bring equity and justice to all Nigerians. It is crit-

ical to the existence of a country like Nigeria that is bedevilled by multifarious challenges as being witnessed today." Expressing delight at the wide acceptability that has trailed the selection of the delegates, Fayemi said, "You could imagine what I would have gone through to arrive at these eminent Ekiti indigenes among thousands of qualified people. "The delegates are chosen based on their comportment, attainments in life and integrity. They are people who have contributed to the development of the state.” He said: “We all know the role Chief Deji Fasuan, who will be leading the delegates, played in the creation of Ekiti. I have no doubt in me that they will do us proud". Fayemi, who urged them not to betray the confidence reposed in hem, pledged that he would organize a mini conference through which they would interface with the people to be able to aggregate views that would be presented at the confab.

Gunmen kill three policemen in Katsina

unmen yesterday shot dead three policemen in Kusada Local Government Area of Katsina State. An eyewitness told the News Agency of Nigeria (NAN) that the incident occurred at the border area between Kano and Katsina in Gidan-mutum-daya town. The eyewitness who pleaded anonymity said that gunmen arrived at about 11a.m. on a motorcycle and opened fire on the policemen at the checkpoint. According to him, one policeman was killed on the spot, while the remaining policemen run into the bush. The eyewitness said another set of gunmen in

another vehicle pursued the fleeing policemen and killed two of them. The Police Public Relations Officer, DSP Aminu Sadiq, confirmed the incident and told NAN ``We lost three of our men from Kusada Division who were on a stop and search duty. ``Four gunmen on motorcycles came out from the bush and began to shoot our men. ``Another vehicle also arrived and opened fire at the police at the same time killing three of them.’’ Sadiq, who said no arrest had been made, added that the police authorities suspect that the attackers could be cattle rustlers.

L-R: Ekiti State delegates to the National Conference, Dr. Kunle Olajide; Prof. Akin Oyebode; Prof. (Mrs.) Olabisi Aina; Chairman, State Council of Obas, Oba Adamo Babalola; Governor, Kayode Fayemi; and Deputy Governor, Prof. Modupe Adelabu, during a courtesy visit by the team to the Governor, in Ado-Ekiti... yesterday.

DSS parades suspected killers of Islamic cleric, Albani PARADE

35-year-old graduate among suspected killers of cleric Emmanuel Onani Abuja

he Department of State Service (DSS) yesterday paraded suspected killers of a renowned Islamic preacher, Sheikh Auwal Adam Albani, who was murdered alongside his wife and son. Albani and his family members were killed on

February 1, while on their way back from a "preaching session" at Markaz Salafiyya Centre, Tudun Wasda area of Zaria, Kaduna state. Those paraded at the DSS head quarters in Abuja yesterday were, Yakub Abdullahi (a.k.a Kawu Abu Amar), Ibrahim Shuaibu (a.k. Kawu Amar), Bilyaminu Usman and Sahabi Ismail. Others are, Umar Farouk, Yasir Ibrahim Salihu and Musa Abubakar. The eighth suspect, Kabiru, was said to have died "while attempting to snatch the weapon of a

security operative during the course of his arrest." Salihu, a 35-year old graduate of English Literature from Ahmadu Bello University, ABU, Zaria, confessed at the crowded press confessed coordinated by Marilyn Ogar, Spokesperson of the Service, that he joined the Boko Haram sect in 2009, where the late founder, Ustaz Mohammed Yusuf, "delivered a lecture and I attended the lecture and heard what he said.” "He (Yusuf) really recalled the history of Islamic state of Northern

Nigeria...," he confessed. Another suspect, Usman, who is 22 years old from Kaduna state, also confessed to joining the Boko Haram sect in 2009, even as he revealed that he handled one of the AK-47 rifles, which the suspected sect members used to kill Sheikh Albani and others. Interestingly, the suspects neither betrayed emotion, nor did they exhibit remorse, unlike the last set of suspects, one of whom (a lecturer with Kogi state polytechnic) was said to have shed tears.

Kalu advocates unfettered discussion of all issues Uwakwe Abugu Awka

ormer Governor of Abia State, Dr. Orji Uzor Kalu, wants delegates to the National Conference to discuss all issues that would be presented before the conference without any hindrance or what is now being touted as nogo areas. Kalu spoke to newsmen yesterday in Onitsha, Anambra State shortly after a visit to the Catholic Archbishop of Onitsha Metropolitan Ecclesiastical Province, Most Rev. Valerian Okeke at the Holy

Trinity Basilica, Onitsha. He also took part in the morning prayers held at the Onitsha Main Market organized by the Onitsha Main Market Amalgamated Traders’ Union ( OMMATU). Fielding questions from journalists, the business mogul and politician said that since the conference is the people’s conference, it would be wrong to bar it from discussing any issue “Since it is the conference of Nigerian people, the conference must discuss everything” he declared. Reminded of genuine fears in certain

quarters that opening up all issues for discussion at the conference may lead to the breakup of the nation, he quickly cut in: “I don’t think this country can break up at this stage. The country will not break up. “But if there is need for people to say they don’t want to live together, so be it, that is, if it is the will of God. I don’t think at this stage that the country can break up. But if you go to the conference and the people at the conference say they don’t want to live together again, well, let it be. Living together is strength to us, but if they

say no to it, that is what the Nigerian people and their ethnic nationalities want. So, it should be left for Nigerian people to decide what they want and not political leaders,” he maintained. He also responded to questions on his perceived presidential ambition and of his refusal of membership of the conference, saying he was not contesting for the presidency for now, and that like Prof. Ben Nwabueze, and former vice president, Dr. Alex Ekwueme, he had opted out of the conference.

metr Fire razes Federal Govt NEW TELEGRAPH

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Tuesday, M

Mysterious p

ABIODUN BELLO

FEATURES Editor

abiodun. bello@newtelegraphonline.com

0802 393 8212

TUESday,March 4, 2014

Girls College, Umuahia MYSTERY

The remains of the house

Fire, the source of which is yet unknown, burnt down a hostel while the students were out for night prep

Camillus Nnaji

Ikechukwu Ucheoma Umuahia

mysterious fire, the source of which is yet to be determined, on Sunday gutted the Federal Government Girls College (FGGC), Umuahia, Abia State, throwing the school into crisis. The fire, which started at about 9.00pm, razed the entire Yellow House hostel accommodating about 119 students. The inferno, which destroyed properties worth millions of naira, including students’ personal belongings, started when the students were away for night prep. Speaking with our correspondent on the issue, the Acting Principal, Dr. Chukwuka Ernest, said he got a distress call from one of his members of staff living close to the hostel, notifying him of the

The hostel. Inset: The remains of the properties in the hostel

inferno. He said with the help of some members of staff; they were able to stop the fire from spreading to the other hostels. Chukwuka also said that the timely intervention of fire fighters from the State Fire Service helped in putting off the fire. He noted that there was no ca-

sualty, but added that the inferno was a mystery, as the students were not allowed to cook or make use of electrical appliances. The principal promised to ensure that some of the students’ personal belongings destroyed in the inferno would be replaced with the N2 million donation made by the state governor.

The Public Relations Officer (PRO) of the State Fire Service could not be reached as his phones were switched off. But the state Police Public Relations Officer, Ogbonna Geoffrey, confirmed the incident. He noted that the police were yet to ascertain the level of damage caused by the inferno.

t was like a bad dream for Mrs Tessy Egoh, a widow, when her house simply “disappeared.” But it was a harsh reality. She told NT Metro that she was out on February 1, when someone called her that her house was being demolished. The widow said she rushed home, but that when she got home, she was surprised to see that her house had vanished. According to her, not only was the house demolished, those who did it also evacuated the rubble. So, there was no trace of her house, which she purchased in 2010 at Ago Okota Road, Waterside Bus Stop, off First Avenue. The house, she said, was the reward of more than 30 years of hard labour in Lagos. Today, a road has re-

Man held for robbing in Army uniform ATM SPECIALISTS Thieves are on the prowl, looking for victims to rob of their ATM cards and emptying their accounts Juliana Francis

A man identified as Charles Michael, has been arrested in Lagos for robbing a Customs officer while in Army uniform. Michael and others still at large robbed the officer of his Automated Teller Machine (ATM) and emptied his account.

The suspect also spoke on the gang’s modus operandi. He said: “I used to go with some men in Army uniform to rob people. I really don’t know if they are soldiers or not, but we used to meet at MendeMoses Close in Maryland. “When we see any neatly or expensively dressed person, it is always my duty to stop the person and start a conversation. I sometimes used to pretend that I was searching for a particular street. As I’m speaking with the person, one of our gang members in Army uniform would come over and bundled the person into our car. “The car actually belonged to another member of the gang. He also

used to wear Army uniform. Once we dragged our victim into the car, people passing by will not complain or intervene, because we are in Army uniform.” Once the robbers succeed in picking a victim, they would search the person and dispossess him of his valuables and ATM card. “They used to demand the ATM’s Personal Identification Number (PIN) from the person at gun point. They would also seize the victim’s phone, to stop him from making any calls. They would drive to the nearest ATM location and Michael would go and confirm the PIN and amount in the account,” a police source said.

Once the confirmation has been made, the gang would make enough withdrawal legally allowed at a particular time. After the withdrawal, the bandits would remove the victim’s SIM from his phone, hand it over to him and hold unto the phone. They would go and drop him at an unknown destination. “Once they had dropped the person, they would pick another person. That is how they used to work,” the source added. One day, they robbed a Customs officer in a similar manner. On that particular day, Michael wore a short in an Army camouflage colour.

The Customs officer was robbed on a Friday evening and the gang made a withdrawal that night. Between Saturday and Monday, the gang made three more withdrawals. The Monday withdrawal was made very early in the morning, before the victim went to block his ATM. The Customs officer had accepted his fate. But one day, he was driving past Iyana-Ipaja and saw someone wearing the same camouflage short that Michael wore on the day he was robbed. Confirming the incident, the state Police Public Relations Officer, Ngozi Braide, said that the suspect had been charged to court.

INEC dashes hope on delineation/ PAGE 14 | ‘Immaturity of politicians affecting election’ / PAGE 18

POLITICS

NEW TELEGRAPH

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ayodele Ojo

Kwara, a no-go area for PDP –Saraki

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TUESday, MARCH 4, 2014

POLITICAL NOTES Honouring Abacha’s ‘patriotism’

L-R: Former governor of Imo State, Ikedi Ohakim; President Goodluck Jonathan, Chief Mike Ahamba and Minister of Foreign Affairs, Prof. Viola Onwuliri at the PDP Unity Rally in Owerri.

Imo: Jonathan leads onslaught against APC

President Goodluck Jonathan has continued his shuttle campaign in the guise of welcoming returnees to the Peoples Democratic Party (PDP) from other political parties. On Saturday February 22, he was in Owerri, Imo State where he received defectors to the party and assured that PDP will sweep the 2015 polls. Leo Sobechi and Steve Uzoechi, who covered the unity rally, report on the intrigues that trailed the event

he recent unity rally organised by the Imo State chapter of the Peoples Democratic Party (PDP) to receive former members that defected to other political parties gave a hint of what to expect in the state in 2015. It had all the trappings of war. The signs were thick in the air that PDP had mobilised effectively to receive the ‘old war horses’ back to its stable. There were a lot of strategic manoeuvres. First, words making the rounds in Owerri and Onitsha prior to the D-day suggested that President Goodluck Jonathan and his entourage would arrive Asaba Airport and after some courtesies on the Obi of Onitsha, taxi down to Owerri in a chopper for the unity rally. That proposition was height-

ened when certain PDP faithful in the state claimed that some political thugs had descended on and defaced decorative flex and banners at the Sam Mbakwe

Airport. But the picture of war was erased when few hours to midday the presidential aircraft landed, with the Imo State Governor and Chairman of All Pro-

gressives Congress (APC) Governors’ Forum, Owelle Rochas Okorocha, on hand to receive the nation’s first citizen. The streets were festooned in beautiful and colourful posters welcoming Mr. President and the national chairman of the party to Owerri. Party chieftains that accom-

CROSSFIRE

Security agencies will continue to prosecute the war against terror with full vigour, diligence and determination until the dark cloud of mass murder and destruction of lives and property is permanently removed from our horizon - Reuben Abati

While we must all join hands to bring this insanity to an end, we must however bear in mind that we are running out of excuses in our responsibility to our citizens -Aminu Tambuwal, Speaker, House of Representatives

CONTINUED ON PAGE 16

odern-day Nigeria came into being on January 1, 1914 with the formal amalgamation of the Northern and Southern Protectorates of the former British colony. So, it was not out of place when the Federal Government considered it appropriate to mark the 100 years of the union, though some citizens insisted that there was nothing to celebrate. To the government, the centenary celebration offered a unique opportunity to focus global attention on Nigeria, her history, peoples, achievements and aspirations. This explained the list of 100 eminent citizens that were bestowed with Centenary Honours Award by President Goodluck Jonathan to mark the commemoration. Among those on the list was late military ruler Sani Abacha, listed in the category tagged: Outstanding promoters of unity, patriotism and national development. While the late dictator’s patriotism and contribution to the promotion of unity and national development is subject to debate, his inclusion on the honours list turned a sour grape on the activities that marked the celebration. It also raised a morality question for the Jonathan administration, as it was during Abacha’s regime that torture and other forms of barbarism were enthroned as the norm of governance. Nobel laureate, Prof. Wole Soyinka, who rejected the centenary award because of Abacha’s inclusion, said: “We are speaking here of a man who placed this nation under siege during an unrelenting reign of terror that is barely different from the current rampage of Boko Haram.” Soyinka was not alone in turning down the award. He was joined by the families of Abiola; late activist, Gani Fawehinmi and late Afrobeat maestro, Fela Anikulapo Kuti, who also rejected the posthumous awards on their patriarchs.

14 POLITICS

ntil recently when the Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, announced that the delineation of constituencies will no longer be feasible before the 2015 general elections, there were high hopes among Nigerians that the exercise will soon become a reality. The last delineation exercise was done in 1996 during the regime of the late Gen. Sani Abacha. The exercise, conducted by the defunct National Electoral Commission of Nigeria (NECON), brought the number of senatorial districts to 109 and 360 for the House of Representatives, while state constituencies were put at about 991. This has been used to conduct the 1999, 2003, 2007 and 2011 elections. The rationale At a recent forum organised by the National Broadcasting Commission (NBC), Jega said that “for several reasons, we are not sure we can finish constituency delineation in good time before 2015. As you know, reviewing electoral constituencies must get the joint resolution of the National Assembly before it is done. But by the signals we are getting, nobody is in the mood for that. “Beyond that, our own work was delayed over the issues that, around last year, the controversy over whether the census figures were authentic or not also negatively affected us.” The INEC under Jega had raised the hope of Nigerians as to the realisation of the exercise. It awarded a contract for a map of Registration Areas aimed at helping local and international observers to identify and locate boundaries of constituencies, registration areas and wards as well as polling units. Preparations Before this time, INEC had reached out to the National Boundary Commission (NBC), the Office of the SurveyorGeneral of the Federation (OSGOF), National Population Commission (NPC), Nigeria Postal Service (NIPOST) and National Space Research and Development Agency (NASRDA) and signed a Memorandum of Understanding (MoU) with them. The MoU with NASRDA was to assist the commission to use high imagery resolution from satellite to cover the whole country. On that occasion, Jega told the Director General of NASRDA, Prof. Seidu Mohammed that for INEC to do an excellent job, the commission needed to collaborate with other sister organisations, which had greater competence in terms of using high imagery resolution to cover the entire nation, so that together, they could do an excellent job for the country. The commission had planned to seek the sum of N2.5 billion from the National Assembly for the delineation exercise in its 2015 budget. Before then, the commission, had in January 2008 inaugurated a National Advisory Committee on Delimitation of Constituencies (NACDC) with the responsibilities to review the existing and perceived imbalances in the electoral constituencies and make them con-

Sanctity of Truth

Tuesday, March 4, 2014

INEC dashes hope on constituency delineation Nigerian politicians have been warming up for constituency delineation, the process of reviewing the different political blocs across the country. But recently, the Chairman, Independent National Electoral Commission (INEC), Prof. Attahiru Jega dashed all that hope. ONYEKACHI EZE reports on the decision to halt the exercise and its implications.

Embarking on such exercise now would further burden the already overburdened national treasury. In fact, we should be looking for ways to reduce the number of legislators we have population of the country.

Jega

sistent with the laws of the land. The 13-member committee was also given the task to ensure that “there is equality between the constituencies at any level in relation to the population in each local government and state. They were also to ensure that polling units were in the range of 500 –700 voters depending on the peculiarities of the settlement while ensuring consistency in the demarcation to ensure that individual constituencies were not split between different states. House resolution Sometime in July 2012, the House of Representatives passed a resolution seeking the creation of additional senatorial districts and federal constituencies in the country. This followed a motion moved by a member of the House, Mohammed Ango-Abdullahi who told his colleagues that the “population density” in the current arrangement had placed “a burden” on National Assembly members. With the present arrangement, he said some constituencies have as many as 42 wards while the size of a senatorial district is between four and 14 local governments. “The population of the country is increasing by the day at an annual growth rate of 3.18 per cent from 2006 census and the 2006 census stands at 140,003,542,” he added. Citing Section 73 (1&2) of the constitution, the lawmaker observed that INEC was mandated to review the districts and constituencies at “intervals of not less than 10 years. Section 73(2) of the Constitution empowers INEC to carry out the review in line with the growing

The fears Why then did the commission chicken out? A number of factors could have been responsible for this. Just like state creation, no successful delineation exercise has been conducted in Nigeria under democratic government. The past delimitation exercises were the product of the military. There is the fear that the exercise is usually prone to politicisation and therefore, likely to court controversy. Despite the fact that it was conducted under a military regime, criticisms still trailed the outcome of the NECON delineation in 1996. Some of the criticisms were that critical stakeholders were not adequately engaged during the exercise; and there was no consideration to the administrative, traditional boundaries, cultural affinity, natural frontiers and physical features of the people. Delineation makes members of the legislature accountable to the people. In the Senate, each of the 36 states of the country has equal number of three senatorial seats while Abuja, the Federal Capital Territory has one. In the House of Representatives, proportional representation was applied based on the population per state. That is why states like Bayelsa and Nasarawa have five members each, while Lagos and Kano states have 24 members each in the House. Some others like Ebonyi, Kwara, Ekiti, Taraba, Yobe and Gombe were allotted six House of Representatives seats. On the other hand, Kano State with 44 local government areas has the same number of senatorial seats with Bayelsa that has eight local government areas. It is therefore, expected that any delineation exercise will evoke emotion, too much politicking and rancour. Just like the National Assembly is not keen in passing the state creation law, they may not be in a hurry to give INEC the go ahead to create more constituencies. There are people who believe delineation will not be in the best interest of the

Utomi

nation’s economy. One of them is Prof. Pat Utomi, a political economist who believes delineation will increase the budget of the National Assembly and therefore, continue to over burden the economy. “Every democracy undertakes delineation of constituencies in order to ensure fair representation of the people. Most democracies have fixed number of representatives; that means their delineation does not lead to increase in the total number of constituencies. “What is done is to increase number of representatives from a particular part of the country that has experienced a substantial increase in population over time. They just redistribute representatives based on a shift in population density. “While INEC may want to fulfil its constitutional obligation, by doing the delineation of constituencies, embarking on such exercise now would further burden the already overburdened national treasury. In fact, we should be looking for ways to reduce the number of legislators we have,” Utomi said. Former Chairman of Independent Corrupt Practices and other related offences Commission (ICPC), Justice Mustapha Akanbi, said that “even if the years for conducting constituency delineation had elapsed, if you weigh it against our economic situation, as it is now, honestly, delineation becomes a non-issue.” “A bicameral legislature with 360 members of the House of Representatives and 109 senators is too expensive. If you add to the fact that the Constitution allows the President to appoint so many aides and staff, not even limited number, you will then appreciate the high cost of bicameral legislature. This further compounds the problem of INEC even if the enabling law is passed by the National Assembly,” he said.

POLITICS

Sanctity of Truth

Tuesday, March 4, 2014

Kwara, a no-go area for PDP –Saraki Former governor of Kwara State, Senator Bukola Saraki has cautioned the Peoples Democratic Party (PDP) against manipulating the 2015 elections. He believes Kwara is a no-go area for PDP as the All Progressives Congress (APC) will win convincingly in the general elections. BIODUN OYELEYE in Ilorin captures the interaction.

hen former Kwara State governor, Senator Bukola Saraki, visited Ilorin, last week, one question that agitated the minds of newsmen was the suspension of Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria (CBN) by President Goodluck Jonathan. There were also questions about the possible strength of the emerging opposition in the Peoples Democratic Party (PDP) who have vowed to ensure that the senator, leading his supporters under the All Progressive Congress (APC) loses everything by 2015. Saraki argued, however, that if the PDP thinks of relying on using security operatives to influence the outcome of the polls, they should devise another strategy, because in the next general elections, people will stand by their votes just as they did in Edo State of recent. He said: “What people don’t understand is that Nigeria of 2014 is different from the past; people are more aware of happenings in the political circle and the level of commitment is different. I always say if you believe the tactics used in 1999 is what you intend using in 2014 you are wrong. You could see what happened in Edo State; no matter the agenda, people guarded their votes. You will see what will happen in Ekiti and Osun states; people would come out to vote and defend it. Any security agents that come would naturally align with where the people are. “Here in Kwara, people will vote and defend it. We have seen what happens in different parts of the world where people stand against oppression and imposition. In the past, people weren’t involved but now people are interested; you can’t take people for granted anymore. The role of the security agents is to ensure the processes are followed and to ensure people can freely express themselves through their votes. Politicians are supposed to go to the grassroots to canvass for votes and not to rely on some agents that can’t stand against people’s decision.” Those working against him boast of support from the Presidency and this was evident in the Sunday February 23, 2014 rally by the PDP in Ilorin. The list of those working against the senator, most of whom are his former followers, include Presidential Adviser on National Assembly Matters, Senator Makanjuola Ajadi; his blood sister and former gubernatorial candidate of the defunct Allied Congress Party of Nigeria (ACPN), Senator Gbemisola Saraki, Senator Simon Ajibola, Dr. Sarah Jubril, and former Minister of Transport, Alhaji Bio Ibrahim. Others include the Chairman of the Federal Character Commission (FCC), Professor Shuiab AbdulRaheem, Dr. Femi Ogunshola, a commissioner in the FCC, Mr. Dele Belgore, gubernatorial candidate of the defunct Action Congress of Nigeria (ACN) and Alhaji AbdulRahmam AbdulRazak, former gubernatorial candidate of the defunct Congress for Progressive Change (CPC). Asked if he considered the opposition formidable enough to eject his successor, Alhaji Abdulfattah Ahmed from the Government House, Saraki, dismissed any fear about the gang-up against him. “How do you define the word formidable?” he asked rhetorically “In the 2011 elections, the PDP came first with the

Saraki

ACN as second. Majority of those in the PDP at that time are now in the APC. Also majority of those in the ACN then are now in APC, so which group could be described as formidable?” He said that despite the President’s visit to Kwara recently, “that too, is no big deal.” To him, Kwara is a no-go area for the PDP. He said: “I thought there are rules guiding party rallies at this time. As I said, it could be a sort of reaction to the success of our party registration exercise that is making them to do that. As you all know, the APC recently held its registration exercise and the figures we got was over 380,000. Some of you that were here during the last election would remember that Governor Abdulfattah Ahmed won with about 250,000 votes and if today we have recorded registration of 380,000 members you can see that if I were also to be on the other side naturally I would feel jittery and be organising rallies. “Let them also do membership registration and let us see how many they would record; they too know at the end of the day that they are a party that don’t have the form of cohesion. I think they are doing that to boost the image of their party. But the people of Kwara have spoken during our registration exercise and we thank the people that came out for the registration exercise. You would appreciate them more if you consider the shortness of the time; remember we took

In Kwara, people will vote and defend it. We have seen what happens in different parts of the world where people stand against oppression and imposition. In the past, people weren’t involved but now people are interested

a decision to move to the APC in less than three months and in three months if we could do this it shows that the structure that can deliver is here. I think they better put their resources in other states because Kwara is a no-go area.” He also spoke about moves to reach out to some of those who refused to follow him to the APC, saying in the process of analysing the situation; they had made some discoveries that are being corrected. As a matter of fact, he said, a reconciliation committee has been put in place to woo such people back. He added that the committee will be inaugurated in a few days’ time. Saraki recalled how he personally drove to the home of Dele Belgore before the latter defected to the PDP to convince him on the need to stay with the APC and let them iron out their differences. “I told him I know the PDP more than you, but you see in life you have to take a decision that suits your interest and aspiration,” he said, expressing confidence that even with the loss of Belgore, others who had never worked with his political movement particularly in some parts of Kwara North are now talking with him on how to work together for 2015. Saraki did not deny if he is a target of political victimisation by the Presidency. He, however, said he was up to whatever challenge might come his way over his decision to dump the PDP. “I said recently that even in the days of Umaru Yar’Adua, and many people know how close I was to the man, but when the issue of agriculture loan came up, I took my stand against him and everybody saw it because this thing is not about myself but the future of our country,” he said. On the suspension of Sanusi, the former governor was quick in condemning the action while emphasising that it is not an individual thing but about the strengthening of an institution. He also denied earlier reports in the media that the Senate had taken a decision on the issue and backed Jonathan. His words: “Well, I have read it in papers that the Senate has taken a position on the issue. I want to make it known that the Senate has neither debated nor taken decision on the issue yet. To my knowledge of the CBN Act and the relevant sections that I have gone through, there is no part of the law that supports the action of the president whether you call it suspension or anything; it is tantamount to a way of effecting a removal. “This kind of thing is not about Sanusi; it is even more about the new governor who is coming on board because he can’t really say he would have a five-year term tenure because there can be a new president tomorrow who would say down the line in 2014 something happened and he should leave. It is about the independence of the CBN and security of the holders of the position. “The independence of the governor of CBN is no longer there and there are investors, fund managers that have about N20 billion investment here and they do that because of the independence of CBN and the moment those institutions are not protected it has far-reaching effects on the economy. Issues relating to the sanctity of institutions and laws are more important than issues of individuals and also the laws are there and must be respected. The law states clearly how a CBN governor can be removed. “We must follow the laws. There was a reason we passed the law otherwise everybody will just be doing as he pleases. If the President can suspend the CBN Governor then how are we sure that he won’t one day say he has suspended the Independent National Electoral Commission (INEC) Chairman? I think the President was ill-advised because the institutions are more important than individuals and we should be seen as protecting and strengthening the institutions in a democracy.”

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

panied President Jonathan to receive the decampees included Vice President Namadi Sambo, Senate President David Mark, National Chairman of the party, Adamu Mu’azu leading other members of the party’s National Working Committee (NWC); some state governors, especially Akwa Ibom State Governor and Chairman, PDP Governors’ Forum, Godswill Akpabio. Deputy Senate President, Ike Ekweremadu, was at the head of SouthEast politicians that graced the occasion. At the Dan Anyiam Stadium, venue of the sensitization cum unification rally, the sea of heads was overwhelming. Perhaps inspired by the mammoth crowd and the culture of cross defections in the polity, President Jonathan began his remarks by advising politicians on the basic things to look out for in joining a political party. The President noted that critical indicators include the ideology, promotion of democratic principles, inclusiveness and stability, pointing out that PDP’s stability and all-inclusiveness marks it out as the major political party in the country. He disclosed that foreign heads of state hold the view that Nigeria is synonymous with PDP, adding that this is why whatever happens to the party affects the country and raises concerns among foreign leaders. President Jonathan recommended PDP as the party “we expect every Nigerian that wants to play decent politics to join,” pointing out that “the massive crowd that lined the streets shows that Imo people believe in unity, common vision and mission.” Though the elated president noted that his was not a campaign train, he wondered how it would turn out when the campaign rally hits base. He spoke further: “The message today is very clear and I believe some of my good friends are not here; they know where they are. We have opened the door for a few days. You join us these few days, the position you occupy is the position any other person will occupy; no discrimination. But if you don’t come and come later, you will queue behind your ward assistant chairman. So, the time to join us is now so that there will be nothing like discrimination in anything. The party is open for everybody. Equal rights and justice is guaranteed. We are a party that believes in justice and so we must also believe in equal rights.” He continued that: “The people have spoken out clearly; the timbers, caterpillars and juggernauts in Imo are here. That means that PDP has regained the state; Imo State has been a PDP state and will continue to be a PDP state. Without them there will be no politics in Imo. We have opened the doors to the party for few days so that others may join before it is too late.” He dismissed the mounting anxiety over the forthcoming general elections, saying that “the 2015 elections were not worth shedding blood of any person for.” The president disclosed that PDP remains the only party where one must not be a moneybag before winning an election. Earlier, Mu’azu, who called out the returnees including former Governor Achike Udenwa, Senator Chris Anyanwu, Sena-

Sanctity of Truth

Tuesday, March 4, 2014

2015: Jonathan leads

Senator Hope Uzodinma (left) welcoming President Goodluck Jonathan and the Imo State governor, Rochas Okorocha at Owerri Airport on his way to attend the PDP Unity Rally in Owerri.

tor Ifeanyi Ararume, Chief Mike Ahamba (SAN), Chief Cosmos Iwu and Independence Ogunewe among others, assured that PDP will reclaim the state. Mu’azu recalled the missteps that led to the state being taken over by the opposition party and stressed that henceforth the party would present its first 11 for the forthcoming elections through democratic processes. Mark observed in his remarks that Imo remains a PDP state while Chairman, PDP Board of Trustees (BoT), Chief Tony Anenih, noted that he was overwhelmed by the crowd. He noted that with politics of inclusion in Imo, the party would recover lost grounds. Speaking on behalf of the returnees, Senator representing Imo East Senatorial zone on the platform of the All Progressives Grand Alliance, (APGA), Chris Anyanwu, said: “Mr. President, Imo State has collapsed for you. All Imo has collapsed for PDP. The children of Imo have returned under one roof; end of story.” The senator said it was good to be back home. She added: “I have come back home today with thousands of my brothers and sisters in APGA, including APGA stalwart and former gubernatorial candidate, Captain Omeogu. I have come back accompanied by 10 former local government

The timbers, caterpillars and juggernauts in Imo are here. That means that PDP has regained the state; Imo State has been a PDP state and will continue to be a PDP state. Without them there will be no politics in Imo

chairmen. Here in this stadium today, I have 800 APC members from my local government alone, who have set their brooms on fire and joined me under the umbrella. PDP, I have brought your children home. Open your arms and welcome them. And don’t let them run away again.” Anyanwu declared: “We have returned home to lend strength to the struggle - to pull Imo away from the periphery of national affairs and return it to the centre stage where it rightfully belongs. And finally Mr. President, we have returned home to wrest power from the emperor and anti-democrat and return it to the true people of Imo State.” Chairman of the central organizing committee and Senator representing Imo West Senatorial district, Hope Uzodimma, in his opening address tasked the returnees to demonstrate sincere commitment to the crusade to win the governorship seat even as he congratulated them for having “the wisdom to return to PDP.” He recalled that the 2011 governorship election that threw up Governor Okorocha was an ‘accident’. His words: “Okorocha’s emergence in 2011 was an accident, a political error and we say woe betide such an accident. Our leaders who were dispersed to different parties have all returned and we have closed ranks. We are more than ever determined to rescue Imo from the hands of a rampaging emperor whose administration is predicated on a self-styled system best described as government of the family, for the family, by the family.” In his remarks, Deputy Speaker, House of Representatives, Emeka Ihedioha, recalled with pain the mistake of 2011 which led to the party’s misfortune. “Some PDP stalwarts from the state, in a display of open disenchantment with ex-governor Ikedi Ohakim’s style, decided to gang-up against him and spurred support for his main rival, Okorocha,” he explained. The

Deputy Speaker then declared that the rally was the beginning of the journey to repossess the state noting that “our ability to work together is not in doubt.” Ambassador Kema Chikwe, the PDP National Woman Leader, said: “With this rally, it needs no saying that power has returned to base. The people you see here today represent every segment, bloc and influential political unit in Imo state.” Mixed impressions on impact Already tongues have started wagging about the real impact and implication of the rally in Imo. Though some of the arguments cannot entirely be ignored, the event tagged unity rally and the upscale mobilization of grassroots support for PDP and Mr. President houses potential for further bickering. While the defectors give the impression that they have the number and rhythm to change the equation, Imo State Government dismissed the idea as inconsequential, deceitful and of little or no political consequence. For instance, Imo APC women who hit the streets of Owerri barely 48 hours after the unity rally also repudiated the PDP rally as peopled by rented crowd from neighbouring states. One of the mobilizers of the women, Mrs. Gertrude Oduka, described the PDP rally as a ‘well packaged deceit’. The South-East Woman Leader of APC, Mrs. Tina Adike, said the President’s visit to Imo was unprofitable to Imo, pointing out that President Jonathan came to Imo to ‘commission’ spent forces and political deadwoods instead of meaningful projects. The leader of the group, Mrs. Josephine Udoji, maintained that despite the claims by the visitors, “Imo is for APC and no other party.” The unity rally in Owerri conjured memories of 2011 and attempted to clarify the circumstances of Okorocha’s emergence 33 months ago. It tried also to con-

Sanctity of Truth

Tuesday, March 4, 2014

onslaught against APC

Imo women protesting after the President’s visit to Owerri

vey the fact that indeed Okorocha did not emerge governor by virtue of his popularity, but by an elite conspiracy against the then governor, Ohakim, and a popular revolution that wanted Ohakim out of office at all cost without deciding on the quality of his replacement. At the time, the slogan was, “Anybody could be governor, but Ohakim”. Today, the political elites are living with the consequences of the decision and cannot wait to make amends. In the words of Governor Akpabio at the rally, “They won the election, but lost the calculation.” Landmines to enduring unity Despite the huge crowd and successful outing at the unity rally, what may constitute the landmines include the zoning of elective office and distribution of party offices. For instance, before now, Senator Uzodimma has been shouldering the burdens of the party structure in the absence of state government. It would be left to be seen how the party reconciles his second term ambition for the Senate and Udenwa’s missed opportunity. Then between Senators Ararume and Anyanwu, Ihedioha and Ohakim who would the party consider the most viable to fly its flag in the 2015 governorship contest? What joker would incumbent Governor Okorocha present? Would the APC governor adopt the Oshiomhole game through a possible favourable inclination towards Jonathan’s candidacy to save his second term in Douglas House? Whose drums would Iwuanyanwu and Nzeribe beat in 2015? How far PDP walks through the landmines against enduring unity in its Imo chapter would determine how far it could go in the election. Harbingers of a coming catfight A critical look at the scenario however indicates that the state government may have involuntarily hit the panic button by convening the women counter rally and demonstration barely two days after the PDP rally was held. This boldly signposted the fact that the PDP rally indeed touched a sore point. Anybody who has been in Imo since the inception of the

We have returned home to lend strength to the struggle - to pull Imo away from the periphery of national affairs and return it to the centre stage where it rightfully belongs Rochas Okorocha administration would easily concede to the fact that the PDP unity rally is till date, the largest political gathering in Imo since May 29, 2011. And indeed, the state government has every reason to be concerned over such a massive outing by the opposition in the state. Governor Okorocha and his handlers apparently had a premonition of the possible political consequences of the PDP rally and had, according to reports, deployed all manner of antics to thwart the event. From verbally disparaging the visit of the President as exploitative and unprofitable to Imo people to clearly stating, through the Commissioner for Information, Chief Theodore Ekechi, Imo State government gave the impression that it was unaware of the visit of President Jonathan. What is more, the state chapter of PDP had specifically accused the Special Assistant to the Governor on Protocol, Mr. Alfred Ononogbo of removing decorations at the Imo Airport for the reception of the President. Some people held that if it had been possible, the state government would have even denied the PDP access to the Dan Anyiam Stadium, venue of the rally. However, the government demanded an outrageous fee of N5 million for the use of the stadium facility as against the standard rate of N500, 000. In a press statement on the eve of the unity rally, the PDP stated: “Since the announcement of President Jonathan’s visit to Imo, the state government has been unusually hostile to the state chapter of the PDP.” The rally has come and gone but echos of the clear and eloquent political

statement represented by the rally still reverberates across the Imo political landscape. One message that was clearly and effectively conveyed at the rally, is the fact that major political stakeholders representing all the key political power blocs in the state, for reasons yet undeclared, are congregating under one political umbrella. Their one political course at present is to unseat Governor Okorocha. There are indications from the presentations at the rally, that Okorocha may have inadvertently boxed himself to a similar corner like his predecessor, Ohakim, which led to his ouster. And given the calibre of politicians that graced the rally and with the speed hitherto rival politicians in the PDP are closing ranks to battle a common political enemy, Okorocha may, like his predecessor, end up a victim of another elite political conspiracy. Udenwa’s statement at the event gave insight to the envisaged mass action of the PDP against the incumbent. Addressing the rally on behalf of the returnees, the former governor announced the extinction of APC in the state. His words: “In 2011, we were told of a rescue mission, but over the years we have realised the need to rescue Imo from the ‘rescuers’. You may wish to call it a re-rescue mission. However, with this rally, APC ceases to exist in Imo State. And by 2015, we shall summarily sweep out this administration from Imo and return power to the people of the state.” Mass resignation hits Okorocha’s government And less than a week after Udenwa announced the ‘death’ of APC in Imo, mass resignation has hit the Okorocha administration as Udenwa’s loyalists have been pulling out of the government. The former Chief of Staff during the Udenwa administration, Chief Vin Udokwu has since resigned his appointment as the Board Chairman of the Imo State University Teaching Hospital, Orlu. Soronnadi Njoku, former Attorney General and serving Special Adviser to the governor

POLITICS 17 on Justice and Fairness also resigned to join Udenwa in the PDP. Njoku was a twotime commissioner under Udenwa. When contacted, Njoku confirmed his exit from APC and the Okorocha administration saying, “Yes, I rejoined the PDP last Saturday with Udenwa.” Colonel Lambert Iheanacho, the strong man of Ngor Okpala politics, also resigned his appointment as the Interim State Secretary of the APC to join Udenwa, his long standing political ally in the PDP. Special Adviser to the Governor on Igbo Affairs, Engr. Cletus Amaregbu was at the PDP rally on Saturday and proclaimed his resignation from the Okorocha administration. It was gathered that Chief P. C. Onuoha, Political Adviser to Okorocha, may also be on his way out of the government but was said to be held back by the inconclusive discussions before the unity rally. Several others are on the list of those expected to tender their resignation in the weeks ahead and pursue their political career in the PDP. Okorocha’s riposte Even before the rally was held, Imo State government dismissed the defection of some former notable APC bigwigs as a no show. The State Commissioner for Information and Strategy, Ekechi, told New Telegraph that the defectors are same people “that were defeated in 2011” stressing that in 2011 there was a revolution. “That revolution marked the departure of the politics of the old to a new type of politicking. That was the revolution that ensured that power returned to the people,” he stated, adding that Okorocha remains a symbol of the power of the people. Addressing journalists later at the Government House, Okorocha also dismissed PDP as posing no threat to APC and his administration, pointing out that the Imo electorate had since turned their backs on the party. While describing Udenwa and others as expired politicians, Okorocha declared: “What happened today was political 419. In the first place, the so-called crowd they said they had were not Imo people… This is a combined South-East and South-South rally; a lot of people came from Abia, Ebonyi, Enugu and even Bayelsa. They came together and said they had a rally in Imo and that they had come to capture Imo. In fact, they are making the people even angrier by saying that. It is not true that Imo is PDP. Imo is not PDP, it has since left PDP.” Okorocha said he was happy that none of the speakers at the rally accused his government of not performing. “They did not find any reason at all to advance. Again, it is very important to set certain records right. Those who have joined PDP today are expired like expired medicine in medicine shop,” he stated. As politicking hits overdrive, it is expected that the weeks ahead will unfold the political twists and turns that would shape the 2015 elections in Imo. The stage is getting set once again. All said, while the PDP unity rally is believed by some analysts to be a foretaste of what to expect in 2015 and a pointer to the political direction of the influential political class in Imo, others believe it is an unambiguous way of telling Governor Okorocha that his days in the Douglas House are numbered.

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Sanctity of Truth

Tuesday, March 4, 2014

Immaturity of politicians affecting INEC’s procedure –Ogunmola Dr. Adekunle Ogunmola is the Independent National Electoral Commission (INEC) Resident Electoral Commissioner (REC) in Lagos State. In this interview with WALE ELEGBEDE, he speaks on the plans of the electoral umpire to conduct free, fair and credible elections in 2015, especially in Lagos among other salient issues. Excerpts To what extent did the recent retreat equip the election managers, as the countdown to 2015 elections begins? The retreat appears to be a follow-up to the implementation of the action plan or the strategic plan of the commission towards ensuring that the 2015 elections are free, fair and credible. To this end, we met in Kaduna on the elections project plan where we identified the various activities that we need to do before the 2015 elections, and on the election day itself. We were also allocated timelines to the various activities such that we will be able to achieve our objective of giving Nigerians the very best come February 2015. For us to have successful elections, we must ensure that the lapses of the imperfection associated with the 2011 elections are completely removed. In this direction, we have perfected plans to have a credible register where all registered voters would be able to locate their names on our electronic voters’ register and this is the reason we want to embark on continuous voters’ registration. That will start this quarter. Already, arrangements are in full gear to commence that of Ekiti and Osun states because they will be having their gubernatorial elections in June and August respectively. We are hoping that all those who were not up to 18 years in 2011; those who were 18, but didn’t register then will be able to do to it this time around. Already, plans are underway to distribute permanent voters’ cards for those that are ready. We want to tell Nigerians that come 2015, it is the permanent voters’ cards that will be used for the elections. Nigerians should not be worried about the logistics of these things I have mentioned because all the issues that may arise have been factored into the plans. We have benefited from elections experience in other nations of the world. Some of us went out to observe elections in various parts of the world. I went to Argentina to monitor their election. Some people went to West African countries where card readers were used; they observed the issues with it and all that have been factored into our own preparation. Since your assumption of office in 2010 as Lagos REC, what are the peculiar challenges

Ogunmola

REC’s

F RUM INEC

of INEC in the state and how have you been able to address them? First of all, I want to say that one major peculiarity of Lagos State is that the quality of its population is very high and about the best in enlightenment. So, it is very easy to pass information to them and on their own, they are proactive. INEC has benefited from the quality of the population in Lagos State. Apart from that, we talked about riverine areas that are difficult to navigate during elections. But we have mastered that and we know how to approach it, so our people can get there before 8a.m. What people don’t realise is that the reason for getting late to the polling unit is because INEC wants to keep sensitive materials close to their chest until very close to the election. One can attribute INEC’s action to keeping the materials few hours to the election to the immaturity of the political class. The idea of winning at all cost, thinking that unless irregularities are perfected, one cannot win. In a country like Argentina, political parties print their own ballot papers and they distribute the ballot papers to the various polling units themselves. Recently, we met with leaders of political parties in Lagos and I shared the experience with them. They even spoke well and said they don’t mind anybody winning but that the person must win fairly. That is Lagos for you. We told them at the interactive session that we will be as transparent as possible, we will put our cards on the table and nothing will be hidden to anybody. Have you been able to identify election hotzones in Lagos for the 2015 election? Yes, we have identified the sensitive areas but they are not so many. We have

For us to have successful elections, we must ensure that the lapses of the imperfection associated with the 2011 elections are completely removed identified Mushin and Alimosho areas as the volatile areas. But we are into collaboration with the various security agencies and that is why we have inter-agency consultative committee on security and we meet quarterly. Among the members are armed forces, police, immigration, National Drug Law enforcement Agency (NDLEA), civil defence, prison and others. Each agency has its own duty to the commission. How did Lagos INEC handle the issue of those arrested for electoral offences during the 2011 elections? What proportion of those held were prosecuted? In all, about 13 arrests were made. But some of them were not for weighty issues. We had cases of people damaging our registration machines and I think that has been resolved because the person promised to replace the machine. He damaged it out of annoyance not for fraud tendencies. I think the person felt cheated because of his handicapped nature. Some were caught with more than one voters’ cards. We have won many of the cases but some are still pending. Also, we have cases of political parties taking us to court for de-registering them. In 2011, there was no court case on the gubernatorial election, there was a court case against the House of Representatives election in Alimosho, but that has been ruled in favour of INEC. That is why I believe that we have really gone far. We pray that Lagosians will continue to give us support like they did in 2011. At our quarterly meeting in December, they talked about risk areas in election. They wanted us (RECs) to classify

our states under high, medium, and low risk levels. While some states were classified as high risk, for instance states like Borno, Yobe are in high risk. For a place like Lagos, I was tempted to rate the state low risk based on the 2011 elections, but nobody knows what may be the result of these political inter-play that is happening. So, I rated Lagos medium risk, so that attention will not be shifted off the state. It is better to allocate a higher level of risks to your state, so that necessary steps can be taken to forestall any unforeseen circumstances. Have you ever been lobbied by politicians in the process of doing your job, either in person or by proxy? I want to say that lobbying electoral officials for the purpose of gaining their cooperation appears to be something that I only read on the pages of newspapers in the past. Honestly, I have been under no pressure to do this or that. When I assumed office in Lagos, I paid a courtesy call to the governor and he said that they really don’t need to see my face. He said we won’t ask you to rig for us but don’t allow others to rig the election. I also went on a courtesy call to the Oba of Lagos, and he said in Lagos, if you do the right thing, you won’t have problem. We will not ask you to do what is wrong, please do what is right. With those comments, I felt satisfied. Now, I am waiting for the person who would say please do this or that. Aside that, the process of INEC and the system is too complex. Would I ask the youth corpers to do this or that? How about the many electoral staff here? But, because politicians are used to lobbying, that is why they didn’t see the good aspect of INEC’s chain of responsibility. So, nobody has lobbied me before. I think it has dawned on the politicians that with the reality on ground, it may be a herculean task for them to lobby. Recently, the Lagos State Independent Electoral Commission (LASIEC) embarked on a stakeholders’ tour for ward delineation in the state. How involved is INEC in this exercise since you are the one that have the right to do such? There is sort of confusion on the part of the people in separating INEC from SIEC. INEC cannot say no to SIEC’s creation of wards because the wards are supposed to be for local government elections. SIEC is in charge of local government elections where the chairmen and councillors emerge and they are in charge of creating wards, while ours is federal constituencies. The overlap there is that we have reduced to what we called registration areas. In Lagos, we have 57 LCDAs, but that has not compelled us to have 57 electoral offices. We still maintain the 20 local governments recognised at the federal level. That shows that even if SIEC creates more wards, we would still recognise the registration areas that we are using. We don’t conduct elections in the 57 LCDA’s but in the 20 local government areas.

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TUESday, MARCH 4, 2014

Strategy rethink against Boko Haram

he Boko Haram insurgency has recorded an eerie upsurge in the past few days with a killing spree of 49 students at the co-educational Federal Government College, Buni Yadi in Yobe State, 13 civilians in Michika, Adamawa State, and the gory fatal bomb-blasts in Maiduguri, the Borno State capital. Whatever the official position is, the country is definitely in a state of war and the current strategy deployed by the military is not yielding the desired effect of protecting hapless civilians and eliminating the insurgents. The air force bombing option is not working, the intelligence gathering methodology is failing and the people that are benefiting from the heavy budget for counter insurgency are making the war against terror impossible to accomplish. Despite the military offensive, Boko Haram has repeatedly attacked barracks, police stations, airports and villages, killing, maiming, bombing, kidnapping, raping, looting and abducting in the process. The insurgents spend several hours traumatising their victims with no rapid response from Joint Task Force (JTF), and the citizens in the North Eastern part of the country are very helpless. Since the Boko Haram insurgency became manifest, the allocation to national security has

continued to escalate with N950 billion spent in 2013 without a meaningful military solution, thus suggesting that there are those who are utilizing the state of insecurity to their benefit. No serious government will watch in total surrender while its population is being decimated by insurgents, knowing that the eventual consequence could be catastrophic for the country. In countries that have had to grapple with insurgency, such as Sri Lanka, there has been recourse to periodic re-strategising until the insurgents were defeated. The government should desist from underestimating the insurgents as this could be a great undoing, if adequate care is not taken. The insurgents have the time, target, resources and ideology which unfortunately the military seem to lack. The war against terror is a very complex one and should not be oversimplified for whatever reasons. The government must carefully ask and answer some critical questions such as, what is the real origin of Boko Haram? What is it meant to achieve? Where are the recruits coming from? Where are their camps? Where is the funding coming from? Who are the real people behind the group? What is the motivation for the insurgents? What are the other groups involved? This will at least help government to unravel the mystery behind the insurgents,

assist to map out the right kind of strategy that can put paid to the menace of terrorism. The government should demonstrate political will and determination to take decisive steps to halt the incessant affronts of the insurgents, as the commitment, resolve and willingness to tackle the recurring insurgency will be enough catalyst for the military to get it right. Moreover, the existing measures to stop the insurgents are evidently inadequate and counterproductive, hence, the military programme needs to be revised. The government should be held responsible for failing to implement recommendations and reports by various committees that had been set up to design solutions to the challenge. The recent comments by Governor of Borno State, Kashim Shettima, should be taken seriously, as it indicates that the war on terror is failing. It is unfortunate that rather than looking at the substance of what the governor said, government is engaging in playing to the gallery while the lives of hapless citizens in the North East are being lost on a daily basis. It is incontrovertible that given the kind of ideology which is at the heart of the insurgency, the insurgents are better motivated to fight to the death. The same cannot be said for the members of the Nigerian military. The fact that the Boko Haram

insurgency has not only lasted this long but has exerted such a heavily toll on the populace, and the progressive sophistication shown by the insurgents in their tactics and use of weaponry, all point to the possibility of a decline to state collapse. In an article in 2011, Usman A. Tar observed thus: “state collapse is a gradual process that starts with the decline of law and order, and ends with final disintegration of the building blocks of society. Nigeria may appear to be relatively functioning today, but if it refuses to fix its house – and urgently so – it may disintegrate in future. Today, Nigerians are living in a state of fear – in addition to daily battering they receive from the vagaries of a dismal economy such as living on less than a dollar a day when politicians are stealing billions of Naira from the national coffers.” The government should place more emphasis on the alternative security doctrine and not just the conventional security doctrine, thereby creating employment opportunities, alleviate poverty and provide basic needs for the people. The government must adhere strictly to the 1999 constitution which explicity states that, security and welfare of the people is the primary purpose of government and also begin to see the need for reassessing the national security policy. BOLAJI TUNJI Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director FELIX ABUGU Managing Editor, South SULEIMAN BISALA Managing Editor, North GABRIEL AKINADEWO Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board BIODUN DUROJAIYE News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

OPINION

Mike Okemi

igeria with about 190 million people has over 250 ethnic groups with diverse needs, desires, goals and aspirations. Several conflicts are known to have emerged from the quest of these ethnic groups to have these needs, desires and aspirations met. Ethnic issues like politics can be very challenging especially when government becomes paranoid about dissident ethnic groups. This is especially in crisis periods. Several models of crisis resolution in deeply divided societies have been propounded by persons like John McGarry, Brended O’ Leary. Essentially there are four types of solution- Ethnic Democracy where one group dominates the government, Partition- where incompatible nationalities and groups are largely separated with each on its own lands, Consociational Democracy, a power sharing formula where groups share power with equal status and built in safe guards and Liberal Democracy where ethnic differences tend to be homogenized and people are treated as individuals rather than as members of ethnic groupings. Appropriate pattern varies according

Tuesday, March 4, 2014

No evil can happen to a good man either in life or after death. – Socrates

2015: APC and zoning in Edo

to history and group pressure. In politics, members of these diverse ethnic groups usually come together under the umbrella of a political party by dropping their cloak of ethnic identity because they share common ideology/ideologies, goals etc. But they bring into the political party/parties their various problems, needs, desires etc. Hence the need to ensure proper management of these conflicting, desires and problems so as to stem crises. In Edo state, the PDP in 2007 implemented international system hence the governorship position went to Edo central and produced Prof Oseriemen Osunbor, deputy Governor went to Edo south and produced Lucky Imasuen and speaker went to Edo North. Though the defunct Action Congress (AC) adopted the ideology of the PDP i.e. the zoning system, it did not toe the line or follow the pattern of the PDP in zoning. Hence it gave the governorship position to Edo north with Adams Oshiomhole as candidate and deputy governor to Edo south with Pius Odubu

as running mate. Today the position of the speaker of the House of Assembly is occupied by Edo south, majority leader by Edo north. But for the recent appointment of the current head of service and some commissioners from Edo central, the people from the area would have been totally marginalized in the allocation of key positions of governance. Since the APC has now made itself an ideal or unique political party, it must have an ideology of its own and a name for the implementation of that ideology in allocating positions at the national and state levels. Though it

2015 should therefore be a new beginning of politics and political arrangement in Edo state

should continue with rotation, it should do away with the name “zoning’ The ideology that is very appropriate for this is ‘Consociational Democracy’ or ‘Consocialism’. And to realize this, the APC can localize it by adopting the name ‘Conso Arrangement’. Thus in 2015 and 2016 elections and in the implementation of ‘Conso Arrangement’ or Consocialism, the APC ought to give the governorship position to Edo south. This is because all the senatorial districts in the state have at one time or the other produced a governor whether legally or illegally. 2015 should therefore be a new beginning of politics and political arrangement in Edo state. A new beginning of APC rule, a new beginning of power rotation called Conso Arrangement and a new beginning in which Edo south should lead by producing the governorship candidate. And in choosing the governorship candidate, the principle should be continuity. l Okemi, a lecturer and former journalist, lives in Benin City.

Centenary celebrations: Another elite jamboree Chijioke Uwasomba

he binge is on and those close to the power-that-be are at it again strutting about and laughing to the banks even though we are told that the centenary celebrations are sponsored by the private sector. Those who milk us dry to the marrow always have justificatory excuses to give in their consistent manipulations that negatively affect the good people of Nigeria. The promoters and beneficiaries of the ongoing centenary celebrations are inured to the damnable condition of life in Nigeria manifested by an acute unemployment that has ballooned to as high as 37.7%, gruesome killings of innocent citizens by the Boko Haram bandits, kidnappings, oil-theft, a resurgent fuel scarcity, epileptic power supply (in spite of the new owners of the former PHCN), and sundry life-threatening activities that have daily defined the people’s existence. The ruling elite and their friends and supporters must exploit every opportunity to their advantage. And so, one hundred years of Nigeria’s existence must surely be celebrated. In their usual hurry to take advantage of every situation, lame duck officials always mess things up raising more questions than answers. Otherwise, how can one explain the inclusion of the late General Sanni Abacha as a Centenary awardee? General Abacha, it must be

remembered was one of those in league with the ‘’dribbling’’ General Ibrahim Banbagida who denied Nigerians of their choice of leader when Babangida’s regime flagrantly and criminally annulled the 1993 Presidential election clearly won by the business mogul, the late M.K.O Abiola. Apart from working in cahoots with the evil General, Sanni Abacha continued from where Babangida stopped, throwing bombs here and there and stealing without qualms. Abacha’s loot stashed away in many countries of the world is yet to be fully recovered by the Nigerian government. The pertinent questions that arise are: Do we need to celebrate characters like Abacha? Is it not shameful that after all the shenanigans of Abacha, Nigeria’s current leaders showcase him as one of our heroes past? Is it not strange that Abacha occupies the same space in our pantheon of icons as the likes of Gani Fawehinmi, Fela Ransom-Kuti and other shinning men and women of virtue living or dead? Why have we gone so low as a nation? It must be stressed that those who have hijacked the Nigerian society at all levels of its life appear to be the tenth eleven with mediocre dispositions in all their assignments. It is laughable that a scholar of Richard Olaniyan’s stature will be completely left out of matters concerning the 1914 Amalgamation of the Southern and Northern Protec-

torates. Professor Olaniyan, a distinguished Diplomatic Historian who retired from the prestigious Department of History, Obafemi Awolowo University, Ile-Ife, some years ago has written quite extensively on issues bordering on the Amalgamation. He edited a book with its comprehensive totality entitled: The Amalgamation and its Enemies and many academic monographs and essays in Journals and books including a chapter entitled ‘Disamalgamation: A Chronicle of the Codes and Conduct of its Advocates’ in a forth-coming book edited by Ayoade Bunmi and Adesanya Adeoye. The most annoying and insulting aspect of the list of awardees is the deliberate exclusion of the late Lieutenant Colonel Adekunle Fajuyi, the first Military Governor of the then Western Region of Nigeria who sacrificed his life for his visitor, colleague, fellow compatriot, friend and Commander – in- Chief. It is instructive to note that Colonel Adekunle Fajuyi would not have been brutally eliminated, if he wanted to play coy, by allowing Theophilus Danjuma and company to kill Aguiyi Ironsi.It is indisputable that the Danjuma group was on an insensate and wicked revenge mission over the January 1966 Coup d’etat seen in many circles as a nationalist movement to rescue the country from the vice gip of corruption and misgovernance.

Fajuyi’s Christ–like display of sacrifice is peerless in the history of Nigeria. Arguably, there is no Nigerian leader, living or dead that has demonstrated the profundity of love, sacrifice, patriotism and selflessness that Fajuyi effortlessly but remarkably gave to humanity. Leaders of Fajuyi’s hue are rare to find in this clime of charlatans who always take refuge in their ethnic cocoons to protect their undeserved interests. Today’s Nigeria is one in which the dirty past of some people does not count but what they have been able to acquire politically and economically. Looking at the Centenary Awardees’ list, one feels appalled and ruefully concerned that included in the list are some of the mutineers who killed Fajuyi and his august guest, General Umunnakwe Aguiyi Ironsi. Some of these people have become political leaders and operators of the Nigerian economy, owning the commanding heights of the economy. They are the owners of oil blocks, insurance and financial institutions, universities, big farms and firms, shipping and fishing companies among other big profitmaking organisations across the world. With their obscene wealth they are able to negotiate a space in all spheres of Nigerian life. l Uwasomba is of the Department of English, Obafemi Awolowo University Ile-Ife.

OPINION

Tuesday, March 4, 2014

Sanusi: Time to audit Nigeria Plc

Ladi Ayodeji

n the twilight of his term as the chairman of the Federal Reserve Board, (US Central bank), Allan Greenspan earned rare plaudits from his boss, former President George H. Bush who commended the Exchequer for good house – keeping, noting also that the financial guru enjoyed “wide respect in financial market places”, even at a period of economic difficulties. That does not, by any means suggest that both men had such a chummy relationship; but they were not adversaries either. The spirit of democracy in America is given full expression such that policy disagreements between a President and his chief money market overseer do not often degenerate into public quarrels, like the ugly situation we just witnessed between President Goodluck Jonathan and suspended CBN Governor, Sanusi Lamido Sanusi. From his shocking criticism of the 7-point Agenda of the man who appointed him, late President Umaru Musa Yar’Adua at his senate confirmation hearing, where he sensationally suggested that his new boss should have pursued a more reasonable one or two point Agenda instead of an unwieldy seven, many discerning observers knew that Sanusi would be “too hot” to handle, a

different kind of CBN Governor. The activist CBN Governor and public officer, unprecedented in our history and unknown anywhere in the world, was born in the full glare of the media for which he became a veritable news maker, to the chagrin of his employer, the President. Premature death didn’t allow us to see how the late President Yar’Adua would have handled Mr. Sanusi--- when he complained openly that 25 percent of our national budget was being consumed by our federal legislators or over his altercation with the NNPC over missing oil money or his attempt at introduction of N5,000 denomination, among others. However, with the suspension of President Jonathan, just four months to the end of his tenure, it is clear that no president would tolerate a rather unusual civil servant like Sanusi, regardless of the merits of his campaign. Those who argue that Sanusi ought to have resigned if he didn’t like what was going on in the government in which he is key player probably have a point. Obviously, that would have helped the integrity of his protests and complaints about untoward goings-on in the government. Looming large over his head is Sanusi’s problem with the query he got over his running of the CBN. The government claims that the apex bank’s 2012 audited report was untidy. The governor is ac-

cused of financial recklessness, fraudulent practices and incompetence, all weighty allegations in anybody’s book. Government said Sanusi’s reply to the query wasn’t satisfactory. Now, the question: why did the President wait until Mr. Sanusi’s public allegation over missing $20 billion dollar unremitted proceeds of income from petroleum from the NNPC into the federation account before he was suspended for an offence he allegedly committed eight months ago? Why didn’t the President allow the CBN Governor serve out his term and so, defend his allegation in the on-going Senate hearing over the missing money and allow the matter to be laid to rest before being put into the witness box to answer for his own alleged sins, even in retirement? Certainly, the government’s poor judgment in handling this delicate case gave Sanusi the golden opportunity to plead the alibi that he is being victimized for

Why did the President wait until Mr. Sanusi’s public allegation over missing $20 billion dollar unremitted proceeds

exposing corruption. A public fight between the President and the custodian of nation’s cash is bound to send wrong signals around the world, and overheat the capital market. This should not be happening at a time when the world is beginning to see Africa as the next destination for Foreign Direct Investment, FDI. And Nigeria, the continent’s second largest and fastest growing economy despite all its failings, should be the major beneficiary of this investment in-flow. Sanusi may have been accused of wrong doings by the government. But, that should never make up for his touted achievements during his controversial tenure at the apex bank, especially considering that the merits of his main legacy, the banking reforms are still being debated because of the bridge banks he left behind as unsold stock, and the huge funds spent in bailing out the failed banks run aground by our delinquent bankers. The point must be made finally that all the ministries, departments and agencies must be audited regularly. Indeed, President Jonathan owes this nation the critical obligation to update the audited accounts of all the MDA’s in this year of our centenary. l Ayodeji is the CEO of BMG Promotions, a Lagos-based marking communications outfit.

What does Boko Haram really want? Adewale Kupoluyi

he recent gruesome massacre by Boko Haram of innocent pupils at the Federal Government College in Buni Yadi, Yobe State, calls for national mourning, indeed. The attackers reportedly arrived at the college at about 2am when the pupils were already asleep. During the encounter, they were said to have set locked hostels on fire, before shooting and slitting the throats of those who tried to climb out of the windows. Needless to say that those who didn’t dare to try escaping were burnt alive in a grotesque orgy of violence in which some 40 houses, hostels, classrooms and staff quarters were razed. This national calamity and a few others that happened before and thereafter show that there is need to urgently appraise and curb the activities of this notorious group that kills people as if human life is nothing. This can no longer be tolerated as the strange and queer religious ideology peddled by members of the sect cannot be tolerated in any civilized human environment.

Nothing seems to appeal to the sect other than a virulent and inhuman disposition which promotes sheer wickedness, mass murder, arson, abductions and anarchy. It has always been obvious that Boko Haram abhors orthodox Islam that preaches peace and, like similar jihadist groups everywhere, and seeks to violently overthrow the existing order by imposing Sharia rule based on its own parochial and narrow interpretation of Islam. Then we ask: who are they really fighting? Is it government? Is it Western education alone, which they say is evil? Could it be politicians who do not reason their own way in view of the fact that they dictate the tune of the sound in the polity? The questions seem almost endless. Nobody really knows. But then, why on earth will a sane individual invade a school and attack young and innocent children who are asleep? With this latest massacre, many people have concluded that all known effort by the government to bring lasting solution to the crisis might have been deadlocked.

Jonathan

So, what really does Boko Haram want? Honestly, I have tried to justify why they could decide to go this militant, but I am at a crossroads. One indisputable fact, though, is that the Boko Haram fanatics have never pretended to be what they are not. They have never given the slightest disposition that they are engaged in a crusade for economic opportunities or inclinations. One is perturbed that more than five year years now, this sect has inflicted so much harm on the Nigerian nation that I wonder if they are really sure of their motives any longer. I wonder what the point really is; what do they hope to achieve by this relentless attacks on all that

is dear and sacred to us all? Will somebody, please, tell me what could be the justification for the dastardly killing of secondary school children? Are they the ones preventing Boko Haram from getting better deal form the powers-that-be? When a few amongst them were caught a few months ago, on terror allegation, were the victims responsible for the calamity that befell them? Were they the ones who commandeered the Joint Task Force to fish them out of their hideouts with the aid of offensive, assault weapons and ammunition? I still find it shocking and unbelievable that students could be brutally slaughtered in their sleep just like that. I think this is one murder too many. While every form of illegality and criminality should be discouraged in its totality, I don’t believe, however, that the final solution to the menace of Boko Haram lies in military action alone. I sincerely believe that genuine resolution of the impasse should be through negotiation while the deployment of troops cannot be ruled out. Therefore, the first step in this

direction is to allow the two parties to have a common ground to discuss and sort out issues. This approach should be able to bring the lasting peace that we have all be yearning and praying for. However, this is a call to Boko Haram members to drop their guns, which have not been helpful at all - and opt for the peace option because human life is too precious to be wasted. On a final note, it should be realized that all the agitations by Boko Haram - either real or speculated may not be attainable - in view of the plural nature of our society. It most likely to be a tall dream to achieve, therefore, killing innocent people in the name of any form of religion, doctrine of philosophy is completely not justifiable. Boko Haram maybe surely a product of perceived injustice within the system. That is the more reason why it should be at the front burner of discussion the proposed National Conference offered by the Jonathan administration, by sending its representatives to pour out their minds. Until then, these killings must stop now!

Tuesday, March 4, 2014

Movies will make you famous; television will make you rich; but theatre will make you good. " ― Terrence Mann

ARTS TUESDAY, MARCH 4, 2014

23 NEW TELEGRAPH

www.newtelegraphonline.com/arts

THEATRE

A scene in Okikiro

Okikiro: Promoting societal values Ebere Ameh

HE saying that “true patriotism hates injustice in its own land more than anywhere else” aptly captures Okikiro, a play written and produced by Ms. Eki Ebigbe. An exciting and didactic play based on the philosophy that in the face of impossible odds, people who love their country can change it, Okikiro is a timely project. The play portrays the conflict that breaks out in the once peaceful land of Okikiro and the wisdom with which the youths of the land, led by Azu, the patriotic and indefatigable young man, tackled the myriads of problems facing them. Aggrieved that he was not chosen by the gods to be the king, Firoro, a rich and arrogant man in the kingdom, together with some other disgruntled individuals, swear to make the kingdom ungovernable for Ruwawa, the new King and usurp power by all means. They unleash mayhem on the people, causing bloodshed, disrupt developmental projects and ensure there was general insecurity in the land of Okikiro, even as they portray themselves as harmless and patriotic citizens. However, humble, wise and

upright, King Ruwawa together with the youths and the virtuous women of the land, proffer and achieve peaceful resolution of the conflict - restoring peace to their land and ensuring justice to the culprits. Wittingly and satirically written, Okikiro draws attention to the evil of pride and power-drunkenness of politicians and the perilous times in which youths of today exist. It is a timely and essential exploration of the effects of a society in which there are laws but no values. The play, which has been adjudged an ideal medium to illustrate ways to bridge the widening gap between youths and the values of our society, seeks to re-ignite a sense of responsibility, unity, national pride and moral fortitude in the Nigerian youths. “Though we staged the play in this month of love, it is not about Valentine. It is still very relevant though, but the kind of love that Okikiro is

preaching is more of love of country, love of unity, love of patriotism. Those are the messages we are passing across. That is the aim of the play,” Eboigbe said, adding that one of the things that motivated her to write this play was her various daily encounters with Nigerian people and their feeling of giving up hope; the feeling of non commitment, despondency, no love for the country; and having the belief that the country can’t move forward. “It has gotten to a point when people are even talking negatively about Nigeria. What people don’t realize is that we are Nigeria and when we talk negatively about our country, we are talking negatively about ourselves because we are Nigeria. We don’t have to run the country down because things are not going on well; we have to play our own part by being responsible citizens. Eboigbe believes that all the blames

When you say the problem with Nigeria is leadership, I always totally disagree. That is the honest truth. And again, I start by saying, ‘what about the followership?

should not be left at the doorstep of the government as “we all have a role to play in salvaging our nation”. “When you say the problem with Nigeria is leadership, I always totally disagree. That is the honest truth. And again, I start by saying, ‘what about the followership?’ We know that the percentage of the leaders is totally small compared to the large population of the followership. So why are we always grumbling and talking about the leadership? We the people have even more power because we have the power of the multitude. What are we doing? Nothing...” Eboigbe noted. A satiric play with socio-cultural and moral theme, Okikiro was written in 2007. It was first performed on stage in 2010 at the National Theatre and also in Abeokuta, for the celebration of Nigeria’s 50th anniversary. The play is a clarion call to Nigerian youths to play their part in restoring glory and honour of their Motherland. It was staged again recently at the Agip Recital Hall, Muson Centre, Onikan, Lagos. Directed by veteran actor and theatre arts lecturer, Tunji Sotimirin, Okikiro was staged by Entertainment Bus-Stop Ltd. as it kicks off the 2014 new season.

24 ARTS

Tuesday, March 4, 2014

Best of 100 years of Nigerian music for compilation Tony Okuyeme

N commemoration of Nigeria’s 100th year celebration of its formation as one nation, the Planning Committee of the office of the Secretary to the Government of Nigeria (SGF) in collaboration with the Evergreen Musical Company Limited (EMCL) has embarked on the compilation of Nigeria’s heritage and contemporary music from 1914 to 2014. Announcing this in a press conference in Lagos recently, the Managing Director of EMCL, Mr. Femi Esho, said the event would bridge the existing gap between the music of the old generation and contemporary ones. “We are placing a clarion call to all musicians of note who are still alive and the estate of those that have left

Esho

us, but whose memory is still etched in our hearts and that of the nation, to participate in this laudable project of assembling Nigeria’s greatest musical works in one compendium that

would be an everlasting legacy, not only for Nigeria but all contributory participants who have their musical works included in the compilation.,” he said, adding that Evergreen Musical Company Limited has been very active in highlife business since the early 90s but became incorporated as a limited liability company in 2005. “If you talk highlife, indeed all indigenous music by content and artiste, you must of necessity talk Evergreen Musical Company Limited, whether Nigerian or Ghanaian. Our pedigree convinced the Federal Government of Nigeria through the Centenary Planning Committee of the office of the SGF to formally commission this project, which we proposed to them.” According to him, the conference was also to call on outstanding Nige-

rian musicians, particularly those of the new generation, to see the need to have their music represented in “this heritage, one-time compilation". Esho said forms will be distributed and willing artiste who wishes to be featured in the compilation to so indicate by signing and utilizing. Also present at the conference include Special Projects Manager, :Premier Records Limited, Mr. Mike Odion, Chris Mba, Marketing Director of EMCL, Engr. Best Akwala, among others.

We are placing a clarion call to all musicians of note

4th African Oscars to hold at Saban Theatre, Beverly Hills Tony Okuyeme

HE 4th edition of Nollywood and African Film Critics’ Awards, also known as the African Oscars, will hold at the legendary Saban Theatre of Beverly Hills, U.S., on Saturday, September 13, 2014. Founder of the African OscarsNAFCA Dr. Victor Olatoye disclosed this in a statement saying that this year’s edition of the award will be the biggest to date, and with long list of VIP guests from around the globe to grace the occasion. “This is history in the making because this is the first African film award to be held at this legendary American Theatre in the heart of Beverly Hills; also the first African Film Award to make it to the movie capital of the world, Hollywood. “This year’s award in Hollywood will be our biggest to date and with long list of VIP guests from around the globe to grace this historic occasion, including A list African movie stars, Hollywood stars,, Ambassadors, political figures, musicians, dignitaries and over 1500 Nollywood fans from across the globe,” stated, adding that guests will witness the honoring of noble men and women of Africa as they present them with the coveted golden NAFCA trophies. “Saban Theatre seats about 1900 people and we are just as excited as the people at the Legendary Saban Theatre and it is an honor to become part of the history of this iconic and historic Beverly Hills landmark as we celebrate their 83rd anniversary with them on the 13th of September. Choosing this

Olatoye

This year’s award in Hollywood will be our biggest to date and with long list of VIP guests from around the globe to grace this historic occasion, including A list African movie stars, Hollywood stars,, Ambassadors, political figures, musicians, dignitaries and over 1500 Nollywood fans from across the globe venue and moving the African OscarsNAFCA to Hollywood reflects the vision these prestigious awards for the African Cinema. Looking back at the first award in 2011 at a hotel ballroom, Carolina Theatre in 2012, Warner Theatre 2013 and now we are going to the heart of Beverly Hills; it is fair to say we are moving the African Cinema forward and have come a long way.” Originally named the Fox Wilshire, Saban Theatre opened its doors on September 19, 1930. Designed by renowned theater architect S. Charles

Lee, the Fox Wilshire building serves as an interesting example of Lee's early Art Deco style. With its rich plaster work and heavy sculpture, this theatre is reminiscent of Lee's other early work like the Baroque masterpiece The Los Angeles Theater and the Tower. Lee would later become famous for his clean simple Art Deco lines with theaters like the Bruin and the Academy Theater. History2Fox West Coast Theaters built Saban Theatre to house their first run feature films. For the first

50 years of its life, it served as one of the premiere movie palaces in Los Angeles and has hosted numerous premieres and special events. In November 1953, the premiere of “How to Marry A Millionaire” starring Marilyn Monroe and Lauren Bacall. On Christmas Day of that year Walt Disney exhibited its new “Grand Canyonscope” - the first Donald Duck cartoon in Cinemascope which ran with the studio's classic feature "20,000 Leagues Under the Sea". Other notable events include 1960's special screening of "GI Blues" starring Elvis and attended by Ronald Reagan and the 1970's exclusive engagement of the film "Woodstock". History3In 1981 the Wilshire Theatre was renovated and converted to a stage venue. For a number of years, the venue has hosted numerous theatre productions and concerts including Billy Idol, Laurie Anderson, Mijares, Richard Pryor, Spandau Ballet, Kavert/ Poogy, The National Ballet of Spain and A Mighty Wind, Billy Crystal's "700 Sundays" among others. Now named Saban Theatre is open for theatrical rentals, concerts, television shoots, parties and more. It has seen many exciting productions including Billy Crystal's "700 Sundays," Chris Botti Live in Concert featuring Sting and Paula Cole, The Australian Pink Floyd Show and HBO's Def Comedy Jam featuring Dave Chappelle. In 2012, the theatre was listed in the National Register for Historic Places. On May 8, 2013, the theatre was declared landmark #12 on the Beverly Hills Register of Historic Properties.

BUSINESS TUESDAY, march 4, 2014

What's news Nigerians to pay more for electricity Nigerians, who are still grappling with the epileptic power supply, may pay more for electricity, feeler from the Nigerian Electricity Regulatory Commission (NERC) has revealed.

}p-26

Black out at Obasanjo’s farm to linger The Headquarters of Obasanjo’s Farms Nigeria (OFN) Limited in Ota, the ash cow of former President Olusegun Obasanjo, will be in darkness until Marchend, New telegraph has gathered. p-27

FG loses N2.7 trn to gas flaring in 10 years –DPR Nigeria has lost N2, 682,750 to gas flaring in 10 years, a document by the department of Petroleum Resources (DPR) has revealed.

}p-28

TCN, firm bicker over N7m 'transformer' grants The Ibadan Electricity Distribution Company (IBEDC) released an undisclosed amount, which a source put at N7 million, to the Transmission Company of Nigeria (TCN), to replace a faulty transformer, which has thrown the Obasanjo’s Farms Nigeria (OFN) Limited in Ota into darkness.

}p-29

BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) Simeon Ogoegbulem, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) JONAH IBOMA, ICT Editor

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

Stories by Adeola Yusuf

igeria, Africa’s biggest crude exporter, has lost about $76 million to the eight days’ shutdown of Nembe Creek pipeline by Shell. Shell, which said it spent $1.1billion in 2010 to replace the 95, 000 barrels per day capacity facility announced its shutdown penultimate Sunday. Shell Petroleum Development Company (SPDC), a Nigerian subsidiary for the Anglo-Dutch firm, confirmed the shutdown of NCTL. SPDC spokesperson, Mr. Precious Okolobo, however, disclosed to New Telegraph at the weekend that the facility is yet to be restored. Although he declined to comment on the stage of completion of the repair work, Okolobo maintained that his company was still on removal of crude theft points on the facility. “What I can tell you is that the removal of crude theft point

L-R: Managing Director, Resourcery, Tani Fafunwa; Chief Executive Officer, Tree Mind, Liora Rosemblum; Managing Director, Kitskoo Cloud Services, Tunde Fafunwa; Executive Director, Kitskoo Cloud Services, Monu Ogbe, during the Data Recovery session for I.T managers organized by Kitskoo Cloud Services in Lagos.

is still continuing. The removal of crude theft point is the same thing as repair work and this is what we are doing at the moment,” he said. The SPDC spokesperson had earlier said: “We closed the NCTL on Sunday for the removal of crude theft points. We plan to complete the exercise and reopen the line as soon as possible.” Meanwhile, Nigeria’s oil production has dropped by 95,000 barrels per day as the Royal Dutch Shell announced the

closure of the facility to stop leakage caused by oil theft. The oil major said that it shut the pipeline penultimate Sunday night. The pipeline pumps the Bonny Light grade of crude oil and the Bonny Light export shipping lists for April showed that 95,000 barrels per day would be pumped through the NCTL. As such, at least 95,000bpd of oil must have been shut in due to the closure of the pipeline. The NCTL was originally constructed to collect crude

Marketers mop 20m barrels of oil from W'African coasts FUEL SCARCITY About 18 marketers are now buying Premium Motor Spirit (PMS) from tankers in the West African coast.

uel transactions at the West African coast at the weekend increased as Nigerian marketers demanded for about 20 million barrels to ease the product’s scarcity rocking the country, New Telegraph has gathered. This measure, a marketer who craved anonymity said,

was to fast-track the duration for product’s importation. “I can confirm to you that many of us have secured the import permits from the Department of Petroleum Resources (DPR) and some of us are looking towards the West African CONTINUED ON PAGE 26

from 14 oil pumping stations across the Nembe Creek, Krakama, Awoba, Ekulama and San Bartholomew oil fields, and transport it to the Cawthorne Channel field and SPDC’s Bonny Export Terminal for dehydration and export. The oil major invested $1.1billon in 2010 to replace the Nembe Creek pipeline, but the key oil transport channel has been repeatedly hit by sabotage and theft since 2011, forcing Shell to repeatedly shut it. SPDC had last year announced plans to sell off the 97-kilometre, 150,000bpd of oil NCTL in the Niger Delta and experts said this might not be unconnected with the activities of oil thieves on the pipeline. Oil theft has been estimated to cost Nigeria some $6billion per year. SPDC had last year shut down the NCTL for repairs after it was breached by thieves. It said the temporary closure cost an estimated 150,000bpd in lost output.

Rates Dashboard

DELE ALAO, Brands/Marketing Editor

Nnamdi Amadi, Reporter

ayodele aminu, Deputy Editor, business

Nigeria has lost about 760, 000 barrels in eight days of Shell’s shut down of the Nembe Creek pipeline.

WOLE SHADARE, Aviation Editor

Chuks Onuanyin, Energy

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LOSS

ADEOLA YUSUF, Energy Editor

Abdulwahab Isa, Finance Editor

www.newtelegraphonline.com/business

FG loses N13bn to Nembe Creek Pipeline shut down

DAYO ADEYEMI, Property Editor

CHRIS UGWU, Capital Market Editor

NEW TELEGRAPH

PHCN successors target $11.7bn for capacity expansion

INFLATION RATE January 2014 ...........................8.00% December 2013.......................8.00% November 2013..........................7.90%

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

EXCHANGE RATE

(Parellel As at Feb. 28)

USD. . . . . . . . . . . . . . . . . . . . . . . N172 Pounds. . . . . . . . . . . . . . . . . . . . N286 Euro. . . . . . . . . . . . . . . . . . . . . . . N236

EXCHANGE RATE

(Official As at Feb. 28)

USD. . . . . . . . . . . . . . . . . . . . N156.75 Pounds. . . . . . . . . . . . . . . . . N261.96 Euro. . . . . . . . . . . . . . . . . . . . . . . N234

26 business | news

Sanctity of Truth

Tuesday, March 4, 2014

Nigerians to pay more for electricity HIKE The Nigerian Electricity Regulatory Commission (NERC) has indicated its readiness to review electricity tariff. Adeola Yusuf

igerians, who are still grappling with the epileptic power supply, may pay more for electricity, feeler from the Nigerian Electricity Regulatory Commission (NERC) has revealed. The commission at the weekend said that it was undertaking the third review of Multi-Year Tarriff Order (MYTO) 2 based on demands for tariff hike by power investors. NERC's Commissioner in charge of Government and Consumer Affairs, Dr. Abba Ibrahim, revealed this in an interview with news men on the sideline of the commissioning of Eko Custom-

ers’ Complaints’ Forum in Lagos. He however, said that this review is subject to the outcome of the on-going collation of statistics based on the complaints by the new investors. The new investors, who plan an injection of about $1.8 billion, had called for a hike in electricity tariff, which they considered as non-visible to the global reality of electricity generation, transmission and distribution. But Ibrahim disclosed that the review might either be a reduction or an increase in tariff, "depending on the outcome of the on-going findings and an examination of interest rates, exchange rates, inflation rates and available generation capacity during the preceding six months." The MYTO, NERC commissioner Ibrahim said: "Involves an examination of interest rates, exchange rates, inflation rates and available generation capacity during the preceding six months and if these report a change of plus or minus five per

Six ships to discharge wheat, steel at Lagos Port IMPORTS Nigeria takes delivery of wheat and steel, which are products that can be manufactured locally. Bayo Akomolafe

espite moves by the Federal Government to reduce wheat importation, two terminals at the Lagos Port Complex are to take delivery of 127,372 metric tons of wheat this month. The terminals are the Apapa Bulk Terminal Limited and Greenview Development Nigerian Limited (GDNL). Also, ENL Consortium, the operator of terminal C and D at the port, will host three vessels laden with 47,715 metric tons of steel. Total annual demand for wheat in the country is 3.7 million metric tons. Expected with some wheat this week is MV Desert Hope laden with 48,000 metric tons and MV Blue Bill 23,729 metric tons. MV Ionia Eagle will berth on Sunday next week with 44,000 metric tons, while GDNL will take delivery of 33,000 metric tons from MV Storm Ranger in the third week of the month.

Also jostling for space to discharge steel at ENL terminals are MV Jim Xing Lig with 10,105 metric tons, MV Rui Chang Hai, (8,764metric tons) and MV Union Ranger (28,846 metric tons). Last year, the Federal Government said it would meet 68per cent of the nation’s domestic wheat requirements. This would save Nigeria N 43billion in wheat imports annually. It noted that it the country would plant 212,000 ha of wheat by 2014, with expected production of over 1 million metric tons and 215,000 hectares by 2015, with an anticipated production of 1.2 million metric tons. It was learnt that the overall wheat import between 2012 and 2013 rose to 3.9 million metric tons, up slightly from the 3.8 million tons imported between 2011 and 2012. According to the United States Department of Ahgriculture, Nigeria remains the most consistent, loyal customer for United States wheat imports. It was revealed that the growth in Nigeria’s wheat imports during the last few years could not be sustained this year due to the challenges in moving products to the parts of the country.

cent individually, such change will be applied to the tariff published for each distribution company. "The two reviews earlier done did not result in any increase of tariff because the indices and fundamentals of the MYTO have not significantly changed. "The changes that some cus-

tomers have belatedly noticed in their bills were announced by the commission on June 1, 2012." Meanwhile, consumers grouped as R3 and R4 who, according to MYTO2 paid N23.71/ kwh with fixed meter charges of N21,256.30 and N118,830.56 respectively are to, based on demands by investors, pay N25/ kwh, New Telegraph gathered.

The N100 billion stabilisation fund disbursed last year by the federal Government would accommodate the cost to be borne by consumers rated below the N24/Kwh cost of production at the rate of N50billion for 2012 and 2013 respectively. Middle income consumers who paid between N11 and N12/ Kwh would now pay N13.5/kwh.

L-R: Senior Manager, Customer Loyalty and CRM Commercial, Arik Air, Kaushalya de Alis; Head, Corporate Sales, Globacom, Kamaldeen Shonibare, and Human Resources Director, Guinness Nigeria Plc, Wale Adediran, at the Glo Evergreen Series held at the Intercontinental Hotel, Victoria Island, Lagos .

Marketers mop 20m barrels of oil from W'African coasts C O N T I N U E D F R O M PA G E 2 5

coast for fuel vessel tankers ready to offload. I believe demands have been placed for this, and then later we can now go to Europe to complete the imports allocation for the first quarter,” he said. The Petroleum Products Pricing and Regulating Agency (PPPRA) had penultimate Monday released another batch of allocations to marketers as many importers besieged the headquarters of the agency in Abuja. About 30 companies were granted licences to import around 26 million barrels of gasoline, or around 3.1 million tonnes, in the first quarter of this year, down slightly from the previous quarter. The PPPRA had earlier begun the allocation of the controversial fuel imports for the first quarter of 2014. Spokesperson for the PPPRA, Lanre Olalere, confirmed the release of second batch of the allocation in a telephone chat with New Telegraph. He added that this is in line with the vision of the Board and executive secretary of the PPPRA. "Our new Executive Secre-

tary has promised to continue with our vision of transparency and accountability," Olalere said. The minister of Petroleum Resources, Diezani Alison-Madueke approved the first Batch allocation of the first quarter fuel imports list submitted by PPPRA for all the five Major Oil Marketers. About 36 independent oil marketers who were previously accredited for the exercise in the last quarter of 2013 were also assured of approval. Former Executive secretary of the PPPRA, Reginald Stanley, checks revealed, had earlier submitted the list to the minister, who foot-dragged on the approval, a move that led to fuel scarcity in Lagos and other parts of the country. New Executive Secretary, PPPRA, Farouk Ahmed could not be reached on phone for comment, but a source at the agency told New Telegraph that what remained then for the major marketers is to secure imports permit from the Department of Petroleum Resources (DPR). The independent marketers, he said later got their approval the previous week. MOMAN scribe, Thomas

Olawore, who had earlier accused PPPRA of deliberate delay in approving the imports, did not also pick several calls made to her. A marketer, who craved anonymity however, said that the approval was given to curb threat of fuel scarcity. "Yes, MOMAN got their imports approval on Saturday, which would be announced shortly and the Independents (Marketers) got assurance that they would get this week. "This approval, which has been lying on the table of the minister, got her attention, when it was becoming glaring that fuel distribution crises were arising and she did that hurriedly to solve that problem," he said. The PPPRA, it would be recalled, expanded the list of importers to over 40 companies for the third quarter 2013 import allocations. About 30 oil companies were previously accredited for the exercise in the second quarter. The list of the importers for the third quarter 2013 includes Oando Plc, which won the biggest allocation of 135,000 tonnes, while Total Nigeria Plc and Folawiyo Oil and Gas won 90,000 tonnes each.

BUSINESS | ENERGY 27

Sanctity of Truth

Tuesday, March 4, 2014

Black out at Obasanjo’s farm to linger till March-end GLOOM Hope of a quick restoration of electricity to former President Olusegun Obasanjo’s farms has been dashed. Stories by Adeola Yusuf

he Headquarters of Obasanjo’s Farms Nigeria (OFN) Limited in Ota, the ash cow of former President Olusegun Obasanjo, will be in darkness until Marchend, New telegraph has gathered. New Telegraph had exclusively reported on February 10, 2014, that the business of the former President, which include the Obasanjo’s farms and Tempo Company, have been experiencing low returns due to the blackout, which the companies have been facing since November, 2013. The Transmission Company of Nigeria (TCN) had already told the Nigerian Electricity Regulating Commission (NERC) at a meeting in Ibadan, at the weekend, that it would take four weeks before light is restored to

former President’s companies and its environs. These four weeks, a NERC source at the meeting said, are required to complete the replacement of faulty transformer at the TCN’s 133x 32 KVA at its Lagos Regional Transmission Station (TS), which supplies electricity to the farms and its environs. “We at NERC were in Ibadan DISCO last week as part of supervisory function. At a meeting with the TCN and the IBEDC in Ibadan, the TCN said that this project would be completed in four weeks time and because it is a technical issue, it has to be like that,” the source said. In the same vein, Senior Media Aid to the minister, Sunny Igbuanugo told New Telegraph on phone that the minister of Power, Professor Chinedu Nebo, has nothing to do with issues like the replacement of faulty transformer. “This is an issue between the TCN and the Distribution Company, which the two of them have competence to resolve,” he said. When the newspaper revisited the farms, which has been thrown into darkness since last November, a staff who craved anonymity, said that the management of the farm had switched to generator, as alter-

‘3, 000 vehicles switched engines from petrol to gas in Nigeria’ INSUFICIENCY The number of vehicles in Nigeria that have switched their engines from petrol to gas has exceeded 3, 000.

he Green Gas limited (GGL), a joint venture company of Nigerian Gas Company (NGC), a subsidiary of Nigerian National Petroleum Corporation (NNPC), in partnership with Nipco Plc, said that over 3, 000 vehicles’ engines have been converted from Premium Motor Spirit (PMS) known as petrol to Compressed Natural Gas (CNG). The company, which said this in a statement by Lawal Taofeek, said that these vehicles are now running on gas,

added that many vehicles are on the verge of being convert based on the numerous advantages of CNG over petrol. “The feat is premised on the current selling price of N97 for litre for Premium Motor Spirit (PMS) in the country compared to the N55 naira Standard Cubic Meter (SCM) of gas, equivalent of a litre of petrol being offered by GGL to motorist running on CNG,” the statement read. GGL General Manager, Natural Gas, Mr. Anirudh Narula, the statement continued, made the observation while reflecting on the growing benefits of CNG powered vehicles. This makes such motorist move around at relatively cheaper rate than they could with petrol.

Main gate of Obasanjo’s Farm, Ota.

Photo: Adeola Yusuf

native, “on, which they have been spending lots of money, to buy diesel.” The farm, which has been battling with lack of power supply for over three months, now rely on 24-hour supply from power generating sets to mitigate the havoc that the blackout has wrecked on its agricultural production and income. The TCN and the IBEDC, the company in charge of electricity distribution to the area, have earlier bickered over the cause of the blackout, which is also affecting the whole of Ota

Industrial Estate, the Ota General Hospital and neighbouring communities like Eledi-Atala, Blessed Estate, Ijagba, and Dada Asaila among others. Investigations by this newspaper, however, showed that the disconnection of electricity supply to Obasanjo’s farm and others came from a 133×32 KV Transmission Station Network (TSN) situated few kilometres behind the farm due to a faulty 30 KVA transformer. But Spokesperson for IBEDC, the company in charge of Ota/ Obasanjo Business Unit, Deji

“He maintained that the efforts of GGL have given motorist a veritable avenue to save money as recent studies have successfully proved that a shift from petrol to CNG can result in reduction of cost of travel by half. “Giving a simple illustration of a journey from LagosBenin City covering 320km, Mr. Narula said the cost of travel on petrol is N6,208 while that of CNG is N2,933, thus giving a saving of N3,275 ,” it read. According to him, a motorist in Benin, Edo State and its environs had been enjoying the savings following the inauguration of CNG stations in the ancient town aside from other ancillary gains of using compressed gas as vehicular fuel. The General Manager pointed that GGL has inaugurated scores of station in Benin City and is now expanding to highways and other cities to provide avenues through, which interested motorist can convert their vehicles to use CNG and re-fuel as well.

FG rolls out new condition for power investors

he federal government has given conditions for full ownership of its privatised power assets. Bureau of Public Enterprises, BPE, said the new owners of Afam Power Plc and Kaduna Electricity Distribution Company, KEDC, will not assume full ownership till full payment is made. Mr Benjamin Dikki, the Director-General of BPE, said this at the inauguration of Transitional Committees, TCs, for the two power companies. Dikki said that so far, the core investors in the companies had only made 25 per cent payment and as such, they could only access information and acquaint themselves with the company for now. “The establishment of the TCs is aimed at allowing the investors to interface with the management for smooth tran-

Bada, absolved his company of complicity in the blackout. He told New Telegraph in a telephone interview that TCN is solely responsible for the power failure. “The TCN are just shying away from their responsibility. What happened is that a 30 MVA transformer at their transmission station is completely down. “Engineers had earlier been coming and trying to see if they could fix the transformer to no avail. It needs a replacement and until this is done the power situation in the area may still be in that state,” he said.

sition from a public oriented enterprise to a private sector driven one. “It is also to engage them to understand the challenges and peculiarities of the company; however, they will not assume full ownership of the companies until full payment is made. “They are only allowed access to information and to acquaint themselves with the workings of the company but not decision making, you should also not engage in any turf war with the management,” he said. Dikki said the practice of inaugurating TCs before complete takeover of a privatised company was initiated by the bureau due to the complex nature of the transaction. The director-general noted that the experience from the existing TCs had been rewarding and useful.

28 BUSINESS | ENERGY

Sanctity of Truth

Tuesday, March 4, 2014

FG loses N2.7 trn to gas flaring in 10 years –DPR VACUUM The gas flared in Nigeria stands at 1.4 billion cubic feet per day. Stories by Adeola Yusuf

igeria has lost N2, 682,750 to gas flaring in 10 years, a document by the department of Petroleum Resources (DPR) has revealed. “Nigeria gas reserves endowment is up to 600 Trillion Cubic Feet (TCF), hence the country is often described as large gas haven with little oil. But Nigeria is losing over 4.9 million dollars (more than N735 million) daily to gas flaring; N268, 275, 000 in one year and N536, 550, 000 in two years,” the document showed. This came as the National

Assembly kept sealed lips on the new gas flaring deadline, creating a legal vacuum on how to end the air and environmental pollution. The Director of DPR, George Osahon, who had earlier presented an excerpt from the document, said that in spite the country’s massive hydrocarbon endowment, Nigeria was yet to fully benefit from the resources. “Oil production stands at 2.5 mbpd, while gas flared stood at 1.4 billion cubic feet per day,” he said at a Business Forum in Lagos. “ This means that an average of 4.9 million dollars worth of gas is being flared on daily basis, which translates to about 1.4 billion cubic feet of gas flared daily by the international oil companies,’’ he said. Osahon, who was represented by Mr. Oliver Okparaojiako, a Deputy Director in DPR, however, said that gas flaring would

be curtailed when Petroleum Industry Bill (PIB) is passed into law. “It will help in the creation of a modern petroleum legal frame work, align with the Nigerian Gas Standard to meet international best practices and enhance transparency,” Osahon said. The DPR boss said that the objective of the PIB was to increase exploration activities and expand reserves and formulate a National Oil and Gas Policy. He said that whenever the PIB was eventually passed into law, it would ensure that gas was widely used for domestic purposes. The theme of the forum was “Petroleum Industry Bill (PIB). Analysing the challenges and opportunities on the gas value chain and solutions for successful implementation in Nigeria.’’

Left to right: Managing Director/Chief Executive Officer, MOMAS Electricity Meters Manufacturing Company (MEMMCOL), Mr. Lucas Scaraffiotti; Member, House Committee on power, Honourable Abike Dabiri-Erewa and Chairman, MEMMCOL Engr. Kola Balogun during Dabiri-Erewa’s courtesy visit to the factory in Lagos.

Two nabbed for energy theft in Sagamu

wo men, one a welder and the other a battery charger, who have been engaged in the illegal usage of electricity for almost two years, have been arrested in Sagamu local government area of Ogun state. This disclosure was made on a day the Ibadan Electricity Distribution Company (IEDC) declared that energy theft had been a major source of leakages and commercial losses to the company. The men, who were apprehended by the men of the Nigerian Security and Civil

Defence Corps are presently in detention and will be charged to court soon. A statement issued by IBEDC spokesman Mr. Tokunbo Peters in Ibadan, revealed that illegal connection of electricity is a major challenge to IBEDC. The act has made it difficult for the company to account for the full monetary value of the energy received from the Market Operator. Since the takeover of the company by the new management, it has made it a priority to stamp out the illegal act in the entire franchise area of the

company. The company's effort to fight energy theft eventually yielded positive results with the arrest of the two men in Sagamu. The statement, while commending the men of the Nigerian Security and Civil Defense Corps for their role in the arrest of the energy thieves, also warned local electricians to desist from connecting consumers of electricity to its network. It further enjoined members of the public to report anybody seen engaging in illegal service connection to the nearest Police Station, NSCD or IBEDC office.

NASS wants local content Act enforced in power METERING The House of Representatives has tasked Electricity Distribution Companies (DISCOs) to address crazy billing and metering problems rocking the nation’s power sector.

ember, House of Representatives Committee on power, Honourable Abike Dabiri-Erewa, described as very bad, the continuous importation of meters into the country, despite capacities and competence, which indigenous companies have developed over the years. Abike-Erewa, who said this during a facility tour to Momas Meter Manufacturing Company Limited (MOMCOL) in Lagos, called for strict enforcement of local content Act in power sector. The only way to ensure economy growth in Nigeria, she said, is when local Small and Medium Entrepreneurs are encourage and patronized, adding that Nigeria has the best meter manufacturing company in Nigeria, hence, there is no need importing meter to the country. “I am shocked when I saw all the equipment at MEMCOL meter manufacturing company in Nigeria, I don’t believe that we can have this kind of facility and sophisticated equipment in Nigeria and we still complain about metering challenges,” she said. Dabiri-Erewa, who doubles as the Chairman, House Committee on Diaspora, continued: “Despite these local companies, striving to manufacture energy meters, we still go ahead to import meter, this is indeed very bad to our system. I am amazed with what I am seeing here today, it will be a big shame if we do not make use of what I am seeing here as regard meter manufactured in our own country. ``Have heard a lot about this place, and its overwhelming, we have to learn to believe in our people, we have to learn to celebrate ourselves and decide that we are going to develop. As a parliamentarian, am going to discuss with my chairman on power and members of the house committee on power, on ways to enforce local content

patronage in meter manufacturing companies. `Dabiri-Erewa said that from what had been observed, “it shows that there is no patronage despite all meters produced in anticipation for market use for better quality that you cannot get anywhere in the world.” She said that all DISCOs in Nigeria should ensure that all its customers are metered to avoid estimated billing and overbilling as often complained by customers. The lawmakers said that the legislators should ensure that local content is embedded in Power sector just as it was done in the oil and gas sector. ``We are going to invite all parties involved, be it DISCOs owners, Nigerian Electricity Regulatory Commission (NERC), ministry of power and all stakeholders, to know why local manufacturer are not been patronised. ``We as a parliamentarian, under the chairman of Honourable Arikhale, we will look at it, Nigeria deserved better electricity service and we are going get to the root of the challenge in the sector. ``There is need for us to give deadline to all DISCOs on installations of pre-paid meter to all electricity customers, but we equally gathered that most new owners faced challenge of finance and they are cash crunched. Dabiri-Erewa tasked new investors in the power sector to step up efforts aimed at improving electricity generation, transmission and distribution in the country. She noted that electricity meters have suddenly disappeared, especially in rural areas and called on the new investors to ensure that an effective meter scheme is rolled out for electricity consumers. She added that all hands should be on deck to ensure that Lagos and the country at large is light up. The chairman, Momas Meter Manufacturing Company Limited (MOMCOL) of MEMECOL, Engr. Kola Balogun, an indigenous meter manufacturer, decried the poor patronage of his products by government agencies and companies. He said that the low patronage was stifling the growth of local industries. ``Indigenous manufacturers do not get enough patronage from government ministries and that is why our economy is not growing,” he said.

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Tuesday, March 4, 2014

PROFITEERING The Nigerian Civil Security and Civil Defence Corps (NSCDC) clamped down on erring fuel marketers. Adeola Yusuf

ix marketers of Premium Motor Spirit (PMS) have been arrested by men of the Nigerian Security and Civil Defence Corps (NSCDC). The NSCDC, which confirmed this in a statement, said the erring marketers were arrested at Alak filling station (one person) and Arolat (two

Six marketers arrested as fuel hits N110 per liter in Ogun persons) in Rounder area of Abeokuta. Others are Olub oil on Ayetoro Road (one person), Energy filling station in Camp (one person) and Rantipe filling station in Obantoko, where one person was arrested. “The Authorities of Nigeria Security and Civil Defence Corps (NSCDC) in Ogun State Command have begun massive patrol and inspection of filling stations in Abeokuta, the state

W’Africa rig salvage work off Angola LNG to start Q2

alvage work to remove a capsised drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said. The capsise of Saipem's Perro Negro 6 occurred last summer during efforts to bore a tunnel below an underwater canyon for a gas pipeline that would feed the liquefaction facility. Saipem has awarded the salvage operation to an asyet unidentified company, a spokesman said. "The activities will start

DISAGREEMENT There is a rift between Electricity Distribution Company (IBEDC) and the Transmission Company of Nigeria (TCN).

he Ibadan Electricity Distribution Company (IBEDC) released an undisclosed amount, which a source put at N7 million, to the Transmission Company of Nigeria (TCN), to replace a faulty transformer, which has thrown the Obasanjo’s Farms Nigeria (OFN) Limited in Ota into darkness. Meanwhile, the N7 million grants, checks revealed is now a source of bickering between the TCN and IBEDC. While the spokesperson for IBEDC, Tokunbo Peter told New Telegraph in a Telephone chat that

in the second quarter following the customary authorisation from local authorities," the spokesman said. The disaster killed one person and cut off feed gas from Chevron-operated blocks 0 and 14, which were to be linked to the plant this year via the canyon tunnel. Supplies from Chevron fields were expected to add 170 million cubic feet of gas per day to the plant, which is struggling to raise output. Photographs of the wreck, seen by Reuters, show the Perro Negro 6 lying sideways, halfsubmerged in the Atlantic.

and its environment,” the statement said. The action, the statement by the Public Relations Officer, State Command, Kareem Olanrewaju, said, followed a directive by the Zonal commander, zone F, Assistant Commandant General (ACG) Oladapo Amujare. He was not happy with the recent attitude of some petrol station, who sells above the approved pump price by the federal government of Nigeria. In line with this directive,

some team of NSCDC went round to some filling stations selling beyond the approved pump prices. According to the statement, more than 20 petrol stations were visited within Abeokuta metropolis and only six were without fuel after checking their underground tanks. Other petrol stations were caught selling above the approved pump prices, some at N100 per litre, others sold between N105 and N110 per litre.

1333x32 KVA Transmission Station (TS) of the Transmission Company of Nigeria (TCN), Lagos region, Ota, Ogun State.

TCN, Ibadan power firm bicker over N7m 'transformer' grants “some logistics were released for the project,” his counterpart at the TCN, a Senior Manger, Public Affairs, Lagos region, Celestina Osin, claimed that the money was not for the project but “for feeders’ extension.” Peters, who refused to be specific on the logistics released, promised to get back to the newspaper with a statement detailing the position of the company. When New Telegraph visited the TCN substation in Ijagba, which is under Lagos regional transmission network, the station manager, Engineer T.O Abiola, declined to comment on the issue, saying “it is sensitive.” But Mrs. Tina Osin, who confirmed that the blackout was

According to the statement, those involved were immediately warned to revert to the official price, while others who were recalcitrant were arrested and brought to the office for appropriate action. Recently, there were rumours of Federal government willing to jerk up the petroleum product prices. This, however, has since been denied by both federal government and NNPC, which also claimed to have enough products to supply to Nigerians.

caused by a faulty transformer, however, disclosed that TCN engineers are already working hard to restore light back to the area. Although the duo of Peters and Osin did not disclose the exact amount released, they disagreed further on the motive the money was released and received. “Some amounts of money were released by Ibadan Distribution Company (IBEDC) but the money was for feeders’ extension not for replacement of transformers. We don’t collect money for replacement of transformer,” she said. Peters however, debunked Osin’s position, stating that the “logistics released” were to fa-

cilitate the restoration of light to the customers in the area. He said in a statement: “The N7million you mentioned yesterday is the estimated cost of the breaker and the civil works. A contractor is already working on the civil works and IBEDC will be paying the contractor in addition to footing the bill for one of the 33kv circuit breakers. “TCN, on the other hand, will be installing and commissioning the 33 kV circuit breaker that we ordered, to restore power to our customers. “Our intervention in the project is in line with the corporate objective of IBEDC to deliver total quality service to its customers and provide a

reliable power supply system that would power industrial growth in all our franchise area. We are mindful of the fact that Ota is the industrial nerve centre of Ogun state and the esteem customers that have been out since last year belong to IBEDC and not TCN. This therefore, informs our decision to collaborate with TCN with a view to restoring public power supply to the affected customers within the shortest possible time. Peters had earlier said: “I don’t know whether she (Osin) is in the picture of what is happening or not but I can confirm to you that Ibadan Electricity Distribution Company as a responsible company released some logistics for that project. She may not have the clearance to reveal this but I don’t expect her to say that the logistics were for feeders’ extension.

BUSINESS | ENERGY

investment Investors plan to expand capacity for power sector. Stories by Adeola Yusuf

he Capital Expenditure (CAPEX) funding requirements for the privatised PHCN Successor companies is $11.7 billion to ramp up and expand their capacity, the Bureau of Public Enterprises (BPE) has said. This does not however, include the requirements of prospective green field and ongoing IPPs. Giving a breakdown which was gleaned from the post-acquisition plans submitted by the investors, Director General, BPE, Benjamin Dikki said the Ughelli Power Plc would need $604 million in CAPEX, Sapele Power Plc ($394 million), Geregu Power Plc ($200 million) while Afam Power Plc needed $850 million. In addition, Kainji Hydro would gulp $456 million, Egbin Power Plc ($1700 million) as well as Green Field IPP $ 7, 500 million. He said: “Gas Industry sources estimate that $1.5 billion will be required annually for the next 5 years if we are to address gas challenges in the power sector. In other words a total of $7.5 billion is required in the next 5 years for gas infrastructure.” He noted that the objectives of the

Sanctity of Truth

Tuesday, March 4, 2014

PHCN successors target $11.7bn for capacity expansion Federal Government’s power reform program as was to reduce the cost of doing business in the country so as to attract new investments through provision of quality and dependable power supply to the economy for industrial, commercial and socio-domestic activities as well as improve the overall efficiency of the distribution, generation and transmission network. Dikki also disclosed that two of the preferred bidders for the 726-megawatt Afam Generation Company and Kaduna Distribution Company have paid their mandatory 25 per cent initial down payment for the acquisition of the assets to it. He told journalists of the new development at the sideline of a technical meeting convened by the Nigerian Bulk

Electricity Trading Company (NBET) to address the extant issues pertaining to the eventual operationalisation of trading instruments in the emerging Nigerian Electricity Supply Industry (NESI). Taleveras Group had emerged top bidder for the Afam power plant with a $260.05 million bid while North-west Power Limited emerged winner for the Kaduna Disco, having offered the highest aggregate technical commercial and collection loss reduction figure (ATC &C) of 29.26 per cent. The meeting, which held in Abuja, was initiated by the NBET chiefly to clarify various provisions in the Power Purchase Agreements (PPAs) and Vesting Contracts (VC) executed by successor generation and distribution companies of the defunct Power Holding

Company of Nigeria (PHCN) with it. It was also meant to inform the contracting parties of key processes required for the administration of the contracts towards the commencement of the Transitional Electricity Market (TEM). Dikki in response to a question on the status of the outstanding Afam and Kaduna privatisation exercise, said: “Kaduna and Afam, the preferred bidders have paid the 25 per cent on due date. They now have to pay the balance of 75 per cent in another six month or so.” With regards to the federal government’s investment overtures to private sector financiers, Dikki said: “When we say we don’t want to leave the new owners alone, it’s to say that government still has a role in facilitation.

Cameroon oil production to pass 82,000 bopd in 2014

abgmeroon's 25 per cent increase in oil production in 2014 will take daily output to just over 82,000 barrels of oil per day (bpd), the SNH state oil company has said. The increase is driven by the November 2013 start of oil production from the Mvia offshore oil field in the DoualaKribi-Campo basin. However, output is well down levels of around 185,000 bpd in the mid 1980s. "In 2014, Cameroon aims to produce around 30 million barrels, over 6 million barrels more than the previous year," SNH said in a statement. Oil accounts for 39 per cent of exports and close to 45 per cent of foreign exchange earnings in the Central African nation, according to the World Bank. London-listed Bowleven, Sinopec unit Addax Petroleum, French oil firm Perenco and Kosmos operate in the country. Cameroon has launched a new bidding round for four oil blocks for the Bomana, Lungahe and Ndian River blocks in the Rio del Rey Basin and the Manyu block in the Mamfe Basin. The deadline for submissions is June 26 and the results will be released in midJuly.

Oil barrels ready for shipment.

Oil sells for $102.4 per barrel CRUDE Oil at the weekend sold for $102.4 per barrel at the close of transactions at the global market.

nergy markets were relatively tame at the weekend, with both oil and natural gas showing small declines. Benchmark US crude for April delivery slipped 19 cents, or 0.2 per cent, to close at $102.40 a barrel on the New York Mercantile Exchange. Natural gas futures fell 3 cents to $4.51

per 1,000 cubic feet as weather forecasts indicate US households won't have to raise the thermostats so much in the second half of March. Brent crude, which is used to set prices for international varieties of crude, was down 67 cents to $108.85 on the ICE Futures exchange in London. The price of oil had earlier risen last Wednesday as US oil supplies increased less than expected. But natural gas futures fell again on expectations for warmer weather by the middle of March. Benchmark US crude for April delivery rose 76 cents to $102.59 a barrel on the New York Mercantile Exchange. The Energy Department said crude

oil supplies rose by 68,000 barrels last week, well below the increase of 1.5 million barrels expected by analysts surveyed by Platts. Supplies at the key storage point in Cushing, Oklahoma, fell by 1.1 million barrels, helping support oil prices. Natural gas fell 15 cents to $4.54 per 1,000 cubic feet. Although frigid temperatures have returned this week to parts of the US Midwest and Northeast, forecasts are calling for warmer temperatures as the start of spring approaches. Brent crude, which is used to set prices for international varieties of crude, gained 1 cent to $109.52 on the ICE Futures exchange in London.

BUSINESS | ENERGY

Sanctity of Truth

Tuesday, March 4, 2014

Nigeria’s expensive darkness The Federal Government is set to review the Multi-Year tariff Order (MYTO) in line with call for electricity tariff hike by investors. ENERGY EDITOR, Adeola Yusuf, reports that Nigerians will soon pay more for electricity.

he investors, who planned $1.8 billion investment in Nigeria’s power sector, have not hidden their dissatisfaction with the present tariff regime. To them, what Nigerians pay for electricity is not viable to the global standards of electricity generation, transmission and distribution (GTD). Aside from dishing out order to these business men to ensure that the gains of privatisation are made visible to all, government is already planning to heed their call for tariff hike. The news now is that Nigerians, who are grappling with power epilepsy, will soon pay more for electricity. The Nigerian Electricity Regulatory Commission (NERC) said at the weekend that it was undertaking the third review of MultiYear Tarriff Order (MYTO) 2, based on demands for tariff hike by investors in the sector. NERC’s Commissioner in charge of Government and Consumer Affairs, Dr. Abba Ibrahim, who disclosed plans to review MYTO2 in a chat on the sideline of the commissioning of Eko Customers’ Complaints’ Forum in Lagos, maintained that this review is subject to the outcome of the on-going collation of statistics based on complaints by the new investors. Manufacturters' plight Manufacturers operating in the Nigeria business environment disclosed last year that over N1.8 billion is being spent weekly as a result of the fall in power supply. The manufacturers, who operate under different trade associations like the Manufacturers Association of Nigeria (MAN) and Nigerian Association of Small Scale Industries (NASSI), said that the major problem facing the manufacturing sector was lack of power. They described as intolerable, a situation where the price of diesel had risen from between N85 and N90 to between N98 and N108 per litre, an increase of over 10 per cent, at a time that the Nigerian economy was still to cope with the effects of the global economic meltdown.

A member of MAN and chief executive of a paint company, Joseph Akpan, disclosed that many of the association’s members had closed shop, while some had relocated to other countries with better operating environment. He disclosed that the volume of diesel consumed daily in Nigeria is estimated to be between 12 million and 13 million litres. Vice Chancellor of the Delta State University (DELSU) Abraka, Professor Eric A. Arubayi, on Wednesday, disclosed that administrative cost of running the institution is so astronomical that it takes a whopping N13 million to power the lighting system in the Abraka campus alone. Arubayi disclosed this to reporters in his office for the first time since assumption of office one and half years ago. As if this was not enough on Nigeria’s staggering economy, Mobile Technology Network (MTN), disclosed that it spends $5.5 million (about N660 million) on diesel fuel monthly in Nigeria. The amount is spent on fuelling the company’s 6,000 generators which powers its base stations across the country for 19 hours daily. Other investors and owners of small scale businesses in Nigeria are also reeling under the burden of huge cost of generating electricity to keep their businesses afloat. The new investors, who plan an injection of about $1.8 billion, had called for a hike in electricity tariff. They considered the present tariff as nonvisible to the global reality of electricity generation, transmission and distribution. But the NERC commissioner, Ibrahim, disclosed that the review might either be a reduction or an increase in tariff, “depending on the outcome of the on-going findings and an examination of interest rates, exchange rates, inflation rates and available generation capacity during the preceding six months.” The MYTO, Ibrahim said, “involves an examination of interest rates, exchange rates,

A symbol showing state of electricity in Nigeria

Middle income consumers who paid between N11 and N12/kwh would now pay N13.5/ kwh. inflation rates and available generation capacity during the preceding six months and if these report is a change of plus or minus five per cent individually, such change will be applied to the tariff published for each distribution company. “The two reviews earlier done did not result in any increase of tariff because the indices and fundamentals of the MYTO have not significantly changed. The changes that some customers have belatedly noticed in their bills were announced by the commission on June 1, 2012,” he explained. Who pays what? Meanwhile, consumers grouped as R3 and R4 who, according to MYTO2 paid N23.71/ kwh with fixed meter charges of N21,256.30 and N118,830.56 respectively are to, based on demands by investors, pay N25/ kwh, new Telegraph gathered. The N100 billion stabilisation fund disbursed last year by the Federal Government would accommodate the cost to be borne by consumers rated below the N24/kwh cost of production at the rate of N50 billion for 2012 and 2013.

Middle income consumers who paid between N11 and N12/ kwh would now pay N13.5/kwh. The old tariff order has made Nigerians, who are faced with sharp fall in power supply from 3,700 Mega Watt (MW) to 2800 MW, to pay a 16.5 per cent marginal increase in kilowatt hour of electricity from N8.50 to N10.00 from that date. The country’s electricity industry generates a 12th of the electricity of South Africa, while its population is three times the size at 150 million while government is preparing to sell six transmission and 11 generating companies, with Nigeria’s Dangote Industries Ltd. and India’s Tata Group and Essar Group, among potential bidders, according to the Bureau of Public Enterprises. To NERC, review of tariff usually brings many dividends. “The Commission hereby reminds you of the responsibilities owed your customers, particularly as regards its guidelines on customer complaints handling, connection and disconnection procedures, customer service standards of performance and meter reading. “We will be resolute and uncompromising in ensuring compliance and imposing sanctions on Chief Executive Officers and Managers of companies that fall short of the required standards,” the Commission said. NERC in 2008 introduced MYTO to ensure that prices of electricity are predictable and to mobilise the required funds

to the industry by attracting needed private sector investments through a tariff system that ensures fair return on investment, while protecting customers against profiteering. From the days of NEPA Since 1972 till early part of 2006, electricity production and supply in Nigeria has been a monopoly of the federal-owned electric utility body known as National Electric Power Authority (NEPA). This utility was charged with the responsibility of generating, transmitting, distributing and selling of electricity to customers and was run as a vertically integrated company. Lack of adequate funding and managerial strategies resulted in the steady decline in the performance of the utility. In 1993, for example, the energy generated was 1,669 MW. The country’s leadership then did not see any need to invest in the power sector. Between 1981 and 1985, during the fourth National Development plan, there was oil boom and power demand growth rate was over 10%. Last line Government should save the economy from collapse by pursuing the power sector’s reforms with sincerity. It should also beat down the prices of diesel as a short-term measure to manufacturers. The Nigerian Electricity Regulating Commission (NERC) should endeavour to make a positive impact on the general populace, industry participants, potential investors and consumers.

32 BUSINESS | ENERGY

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Tuesday, March 4, 2014

NNPC, NEITI bickering over N22.8bn ‘unremitted’ oil revenue worsens DIVERGENCE The Nigerian national Petroleum Corporation (NNPC) and the Nigerian Extractive Industry Transparency Initiatives (NEITI) at war. Stories: Adeola Yusuf

he bickering over N22.8 billion ‘unremitted’ oil revenues between the Nigerian national Petroleum Corporation (NNP) and the Nigerian Extractive Industry Transparency Initiatives (NEITI) degenerated at the weekend as the two organisations accused each other of complicity in the case. NEITI had said before the Joint House Committee probing the Berne Declaration Report that NNPC did not remit the N22.8 billion. But NNPC management raised the red flag over what it termed an “orchestrated cam-

paign of calumny designed to tarnish the reputation of the corporation by some unscrupulous elements.” In a statement by Dr. Omar Farouk Ibrahim, Acting Group General Manager, Group Public Affairs Division of the corporation, NNPC sited the deliberate misrepresentation of NEITI’s presentation before the Joint House Committee probing the Berne Declaration Report as an example of the well-choreographed negative campaign against the corporation. “Some of the reports had sensational headlines alleging that NEITI had uncovered fresh unremitted $22.8 billion oil revenue by the NNPC. However, the bodies of the stories were totally different from the headlines in terms of messages and contents,” Ibrahim said. He noted that careful perusal of the original presentation made by the NEITI Executive Secretary indicates that the sensational headlines were mere inventions calculated to

Heritage boosts Nigeria’s oil production with 15,600 barrels PRODUCTION Heritage Oil's year-todate production from OML 30 has increased.

ndependent explorer and producer, Heritage Oil, reported at the weekend that it increased production from its OML 30 concession, onshore Nigeria. The firm said that year-todate production from OML 30 has averaged approximately 15,600 barrels of oil per day net to Heritage – 17-per cent greater than that seen in the fourth quarter of 2013. Heritage said that there have been three liftings to date in 2014 and that it expects these will take place on a monthly basis going forward. Meanwhile, installation of gas compressors, refurbishment of equipment, statutory inspection and testing of all pressure vessels, and inspection of all wellheads and pipelines continue to support well

optimisation. The firm said this should result in further increases in production. Heritage added that the commencement of development drilling remains on track for the second half of the year. The firm further said that discussions with the Nigerian government about the tax status of Shoreline Natural Resources – the joint venture through which Heritage operates the OML 30 concession – have been concluded successfully. Heritage CEO, Tony Buckingham, said in a company statement: “OML 30’s operations are progressing in line with expectations, providing significant revenues and cash flow to Heritage which should enable the company achieve its goal of paying a sustainable dividend stream to shareholders. Our interest in OML 30 will be used as a platform to grow and obtain additional interests in Nigeria and in other core areas.”

cast aspersion on the image of the corporation and heat up the polity. “We wish to state that there is nothing farther from the truth. NNPC has a copy of the

presentation made by Hajiya Zainab Ahmed, Executive Secretary of NEITI, and nowhere did she allege that NNPC failed to remit $22.8 billion to the Federation Account. We

are convinced that there is a conspiracy by some groups or individuals to drag down the name of the corporation by whatever means possible,” he said.

Oil rig offshore Nigeria.

Expert tasks FG on accountability, transparency in oil, gas ACCOUNTABILITY The Foreign Direct Investment (FDI) and implementation of Nigerian Content law are at risk.

etroleum and local content expert, Dr. Ibilola Amao, at the weekend, declared that Nigeria could have a serious image crisis if she does not take cognisance of the effect of unfavourable news on her ability to attract Foreign Direct Investment, FDI and implement Nigerian Content. Amao who said this in a paper maintained that the country that ranks 144 out of 175 in Transparency International’s 2013 Corruption Perception Index (CPI), has recently got scared by reports of inappropriate accounting practice. She said: “After the Occupy Nigeria socio-political protests in January 2012, which was in response to the removal of fuel subsidy by the Federal Government of President Goodluck Jonathan, the Minister of Petroleum Resources set up three

special Presidential task forces to review and advise on issues that relate to funds misappropriation and fuel subsidy. Almost two years after, there has been little change in the modus operandi of the sale of crude oil and importation of finished products. Also, the recommendations from these committees are yet to be publicised and strategies for correcting the anomalies not yet implemented. “Why is Nigeria not very transparent about her hydrocarbon resources, clandestine in her award of contracts, unprocedural about the execution of due process and uncommitted to creating and maximising value? Besides the decoy of activities listed in the brief issued when committees are being set up, it is most infuriating when members who are chosen to carry out function (e.g. design a template for key production/management, provide critical performance indicators to be tracked on a periodic basis for ministerial review, review all licenses issued for new refineries in Nigeria and assess their opera-

tional, technical, and financial readiness), conclude their activities, submit reports then discover that nothing transformational occurs after they have put in hard work.” The committee on verification and reconciliation of fuel subsidy payment was, according to Amao, set up to investigate subsidy claims by oil marketers. “They came out with mind-boggling findings and discovered huge amounts of money fraudulently collected by oil marketers as subsidy since 2009. Years afterwards and five months after the Central Bank announced that $50 billion in revenues from oil exports from January 2012 to July 2013 had not been remitted to the federation account, the Finance Ministry is requesting for a forensic audit of Nigeria’s Federation Account. To cap all these unclear processes, there is now a further credibility issue as the Ministry of Petroleum, Finance and the Nigerian masses are uncertain about the true facts of how value is being created by Nigeria’s hydrocarbon resources.”

PROPERTY&ENVIRONMENT PAGE 33, Tuesday, March 4, 2014

Modern buildings laced with arches and column

Pitfalls homeowners must avoid when building on budget House builders have been advised to avoid complicated designs so as to stay on budget to avoid abandonment of projects. Dayo Ayeyemi writes

ifferent strokes for different folks! Just as introduction of arches (semicircles) with big columns are becoming popular in modern building designs, no thanks to the breathtaking housing projects in Ikoyi, Lekki, Victoria Island, Magodo, Ogudu, IKeja G.R.As in Lagos; and Maitaima and Asokoro Districts in Abuja, many abandoned building projects are adorning the skyline of Mowe, Ofada in Ogun State, and Igando, Agbado and Egan in Lagos suburbs. The same arches with columns that have become a registered design in the high-brow neighbourhoods in major cities of the country have become burdens to homebuilders in some of these suburbs. Justifying the introduction of arches in house design, many experts in the industry said it is a way of reinventing buildings, but cautioned intending home owners on the need to build functional houses on low budget. According to the former Chairman of the Nigerian Institute of Architects, Lagos chapter, Mrs. Abimbola Ajayi, introduction of arches into building designs began century ago. She said that

it had been a way of sustaining buildings while improving on its aesthetic and beauty. According to her, the use of arches is a way of holding the building structures without beams, which is common with the cathedrals in major cities. She noted that at times arch design would be in vogue while the flat beam would disappear; and that when the flat beam resurfaced, the arch designs would vanish. She said: “Everything goes in circles, even in the fashion industry, you find out that young bottom do come and go; long hair, short hair also come and go.” She recalled that the arch design had its origin in the ancient Roman Empire and in Europe as a way of supporting cathedrals, saying it has become a general feature in buildings in recent times. In term of cost, she advised that it is good for those who can afford arches in their building design, although it costs more. Mrs. Ajayi advised homebuilders to always cut cost of their building by avoiding some of these complicated designs, saying: “they should cut their coats according to their clothes and not their sizes.” She said: “Some people copy others but cannot muster the resources to build. Just build according to what you have; don’t say you have four children and therefore, you have to build 5-bedroom apartment; just build what you can afford and maintain.” On how low and medium income

earners could build two or three bedroom with low budget to avoid abandonment, the 3rd Vice President, Nigerian Institute of Building (NIOB), Mr. Kunle Awobodu, told New Telegraph that it would be wise for the builder to choose a plan that will meet his needs for many years to come. Cost control, he said, must start from design, saying that some people were in the habit of designing their homes in conflict with the fund available. According to him, such people would design in anticipation of fund that is not available. He advised that people should avoid this pitfall to save cost. Provided the intending homeowner has an existing plot of land, he should start with building design by consulting an architect followed by the preparation of site for construction. According to Awobodu, building a home starts with careful planning by considering one’s budget, house plan, type of house, foundation, size, roof types and finishing. He maintained that preparing site for construction could have a big impact on the cost of a home, pointing out that building on a flat plot would

Don’t say you have four children and therefore, you have to build 5-bedroom apartment; just build what you can afford and maintain.

usually cost less, while building on a swampy and rough terrain which would require grading, clearing trees or blasting through large rocks would make site preparations more expensive. On the number of blocks required, he said that the builder should buy between 2,000 and 3,500 blocks for a two and three bedroom flat, depending on size of the building. On the choice of materials for the foundation and whether to use granite or gravel, he advised that gravel is tolerable if it is in appropriate sizes, warning that gravel in the market now is mixed with laterite and is of small sizes which are below the required standard, adding that if one must use gravel, it must not contain impurity. On whether to use brick or block for building, Awobodu noted that bricks are not bad but availability of laterite, especially in Lagos, to mould bricks coupled with workmanship challenges have made usage of bricks nearly impossible. He, however, warned that quality of blocks have to be considered as substandard blocks presently dominate the market. Considering the budget, he advised that corrugated iron sheet may not be suitable but because of the weather condition, fibre cement roofing sheet is preferable. Awobodu opined that surface wiring is cheaper than conduit in order to save cost, adding that metal door that comes with reasonable cost is appropriate due to its durability.

property & ENVIRONMENT

Sanctity of Truth

Tuesday, March 4, 2014

Controversy trails UN claims on Nigeria's housing deficit Mixed reactions There are discordant tunes over Nigeria’s 17 million housing deficit. Stories: Dayo Ayeyemi

iscordant tunes have continued to trail the United Nation (UN)’s disclosure that the housing deficit in Nigeria is in the tune of between 16 and 17 million. While some experts, especially developers, have continued to fault the figure on the ground that it lacks merit, others said it was high time Nigerian government took the UN’s estimation seriously and roll out programmes that will reduce homelessness among the citizenry. According to the UN, Nigeria’s housing deficit is in the tune of 17 million, while the World Bank has estimated that the cost of bridging the nation’s housing deficit is N59.5 trillion. Also, from the estimation of the Federal Mortgage Bank of Nigeria (FMBN), the country needs about N56 trillion to be able to adequately meet the

housing needs of Nigerians. But the President of Real Estate Developers’ Association of Nigeria (REDAN), Chief Olabode Afolayan, recently faulted the UN’s claims, saying that housing deficit in the country could not be more than 10 million. He reasoned that the UN had in the last 10 years claimed that Nigerian housing deficit was about 17 million without any reduction despite efforts by governments at all levels and the private sector to build more houses for Nigerians. He raised many posers concerning the UN estimate, saying: “When did the UN carry out the research or census? Who was there when they arrived at this figure? How many houses have been built by government, developers and individuals in the informal sector in the last 10 years? What happens to these new houses as regards the UN’s figure of 17 million housing deficit? Who are the experts that carried out the data?” He said Nigerians were in the best position to carry out their own research, pointing out that over eight million

Property Watch: Ikeja ON SPOTLIGHT S/N Description of property/location 1 2 3. 4. 5. 6 7 8

9 10

Current Price 4 bedroom terrace house for sale at N70m Ikeja GRA N128m 3 units of 4 bedroom terrace houses at Ikeja GRA N500m Commercial 25 rooms hotel for sale, Ikeja GRA. N52m One wing of 4 bedroom flat at Emeka Anyaoku Estate, GRA, IKEJA 5-bedroom fully detached house on N300m a large expanse of land in Ikeja GRA N75m 3 bedroom flats at Ikeja GRA Adeniyi Jones, Ikeja 5 bedroom detached house with a N90m pent floor N300m 5 bedroom detached duplex plus another 2 wings 4 bedroom semidetached duplex at harmony estate 4 no. 5 bedroom detached houses 800m with swimming pool N65m 4 bedroom detached house plus one room servants quarters at Agindingbi, Ikeja 7 bedroom house complete with N100m boys quarters

Likely price in two years after N100m N130m N550M N60m N320m N80m N100m N350m

N820m N80m

N120m

Factors affecting property prices in the locations:

1. High demand for accommodation 2. Good layout 3. Closeness to International Airport, Sheraton, government secretariat and Ikeja Central Business District 4. Security (Ikeja Army Cantonment, Air Force Base and Lagos Police Command) 5. High returns on property 6. Presence of social amenities

houses had been added to the housing stock in the last 10 years. But, the Chairman, Faculty of Housing of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Chief Kola Akomolede, said that it was risky joking with the UN figure, saying that the organisation is a serious one and not out for frivolity.

He said: “Let Nigerians tell us their own figures. Do we even know how many we are? United Nation is not joking. It has a way of arriving at its figures. What UN has done is to say ‘okay, the population of Nigeria is 16 million, and for 150 million people at the average of four or five people looking for home, this is the number of house they require.

“What is the number of existing houses now and by the time you deduct it from it, you will know the shortage. It is a faithful calculation. UN does not need to count houses before knowing the number of houses needed.” Akomolede said the organisation had been arriving at figures in other parts of the world and had not been queried once.

Ikoyi homes

Lack of infrastructure, bane of interior décor industry –Experts

nterior decoration sub-sector has the capacity to create millions of jobs for the teeming youths in Nigeria, but due to the underdevelopment of the sector, it has been performing below average. This was a major concern of stakeholders when they gathered at the weekend for the 11th Unique Interiors Exhibition in Lagos. They noted lack of infrastructure, technical manpower and unhealthy competition by foreigners as the bane of the sector. Speaking during the exhibition tagged: “Uniqueness with

a professional touch,” a former Managing Director of the Lagos State Property Development Company, Mr. Anthony John Bede, blamed lack of skilled manpower for the underdevelopment of the sector, saying that many of the youths were not interested in training. According to him, one needs to hire workers from the neighbouring countries such as Ghana, Benin Republic and Ivory Coast to get the desired result due to lack of technical training to bring out the best skills from the youth. He also blamed low development of the nation’s technical

schools, saying that unlike a few decades ago when technical education was accorded priority, it has been reduced to a place for the indigent students. Initiator of Unique Interiors Exhibition, Ms. Debola Majekodunmi, an architect, said the event was the 11th edition and it was being held as a platform to showcase interior products and services and to provide detailed information to consumers. Majekodunmi identified lack of infrastructure as a major problem of the sector, saying that the capacity was there but that lack of infrastructure had limited the sector.

Agbara residential estate gets delivery date

he Ogun State Property and Investment Corporation (OPIC) has handed over building sites to the nine Task Managers to be involved in the construction of 30 units of two bedroom flats in its Agbara residential estate. Speaking at the handing over ceremony, General Manager of OPIC in Agbara, Taiwo Aridegbe, an engineer, said the step was another fulfillment of the present administration’s

promise to deliver housing estates across the state’s senatorial districts. He disclosed that work was in progress at the Orange Valley Estate, Oke-Mosan in Abeokuta, the state capital, adding that the involvement of task managers would ensure that the housing project was completed within the expected eight weeks as they are to work in clusters. He said: “This project is a

unique one and the beauty of having nine task managers was to ensure uniformity and also having our development in clusters.” Aridegbe urged the managers to work as a team and in tandem with the mission of the present administration on delivering quality houses to the people of the state, saying that OPIC’s monitoring team would be on ground to ascertain quality.

Sanctity of Truth

Tuesday, March 4, 2014

Curtains: Best way to transform rooms If you’re one of those who give great attention to the design of the house and now you’re looking for the perfect curtains, experts@www. myfancyhome.com, has prepared some useful tips for shopping.

urtains can radically change the outlook of a room. If you know how to choose curtains, they can transform a simple room into something extraordinary. They contribute to the creation of a nice ambiance based on the colour you choose and on the fabric used. Coloured curtains create a spacious aspect while the dark ones transform a room into a comfortable and welcoming place. It’s just an important element in your house and you must know the right way to select the best curtains and drapes for every room, and you must also take into account two things: the light coming through the windows and the size of the windows. This defining accessory has many important roles: it provides intimacy and a sense of

comfort, filter the excessive light and rays of sun and have an esthetical role. The orientation of the rooms, their use and the colours are also important when picking the curtains and the drapes. A south oriented room in direct sunlight all day long, needs big curtains made out from a heavy fabric in a cold colour (green, grey, blue). Depending on the thickness of the curtain and of your own preferences, the fairest thing to do would be opting for drapes or blinds. You can choose the drapes or the blinds from the same color range or go for a different color that nicely contrasts the curtains of a neutral and discreet tone. The drapes are very useful in sunlit rooms because, in time, the sunrays deteriorate and discolor the carpets, the floors and the furniture.

property & ENVIRONMENT

36 property & ENVIRONMENT

Sanctity of Truth

Tuesday, March 4, 2014

Lagos unmasks 200 new landlords today Housing 200 new people join the league of homeowners. Dayo Ayeyemi

T Proposed floating houses for residents of Makoko waterfront, Lagos.

UN foresees multiple benefits for small islands in Green Economy Stories: Dayo Ayeyemi

reating the enabling conditions for a Green Economy transition in Small Island Developing States (SIDS) from improved public investment to reliable market instruments and better governance, according to studies by the United Nations Environment Programme (UNEP), will help the estimated 50 million SIDS residents build climate resilience, achieve economic growth and enjoy better standards of living. The studies say that the transition will offer opportunities for SIDS to better manage natural capital, protect the environment, create green jobs and achieve sustainable development. A statement by UNEP quoted the UN Under-SecretaryGeneral and UNEP Executive Director, Achim Steiner, as saying that the future development for many Small Island Developing States was dependent on a very narrow resource base that is constantly challenged by the high-risk impacts of climate change and natural disasters. Presently, he said, some small island developing nations may cease to exist as a result of sea level rise. For him, an inclusive Green Economy approach that offers opportunities for SIDS to better manage natural capital, protect the environment, create green jobs and achieve sustainable development, is of necessity.

For this, he said it was vital that the right enabling conditions were provided to generate and stimulate both public and private sector investments that incorporate broader environmental and social criteria. “From economic growth to climate change and food security, the issues facing SIDS are multi-dimensional and require integrated action to address them,” Steiner said. SIDS are known to be especially vulnerable to climate change due to their small size, narrow resource base, high susceptibility to natural hazards, low economic resilience, and limited human and technological capacity. In 2007, the Intergovernmental Panel on Climate Change (IPCC) estimated that global warming would lead to a sea-level rise of 180 to 590 mm by 2100, while more recent research suggests that these estimates are likely to be at least twice as large. Nations such as Kiribati, Maldives, Marshall Islands and Tuvalu will become uninhabitable in this scenario, while a large share of the population of many other SIDS will be displaced or otherwise adversely impacted. These negative impacts come even though the combined annual carbon dioxide output of SIDS accounts for less than one per cent of global emissions, meaning they have not contributed significantly to climate change. However, SIDS emissions

are on the rise: from 1990 to 2006, CO2 emissions of SIDS increased at an average yearly rate of 2.3 per cent. Adverse impacts on drinking water and agricultural production are expected due to saline intrusion on coastal aquifers and the destruction of coral reefs and fishery habitats from temperature rises and increased ocean acidification.

he Lagos State Government through its Home Ownership Mortgage Scheme (HOMS) will unveil 200 new landlords in the metropolis through open draws today. Those eligible are intending homeowners who have duly applied for the programme. When New Telegraph visited the office of the Lagos Mortgage Board in Ikeja CBD last week Friday, some interested members of the public were seen at the premises, making inquiries on their eligibility. In anticipation of the scheme, one of the subscribers, Mr. Aliu Bamgboso, who said he was interested in Alhaja Adetoun Estate at Ojokoro, told New Telegraph that he had obtained the allocation form, filled it, but that at the point of submission, he was asked to present his tax clearance which, he said, he was going home to get. Besides, he said he had made inquiries about the cost

of a 3-bedroom flat in the estate, which is N11 million and that he was ready to pay the 30 percent down-payment as demanded by the scheme. On what constitutes the 30 per cent, he said: “The 30 per cent is about N3.56 million and I am ready to pay that. The balance which is 70 per cent is going to be spread over a10year period. This is okay by me and that means I will be paying less than N65,000 monthly in the next 10 years for my own accommodation. This is one of the best things to have happened to Lagosians.” On where he was living before now, he explained that he lived in the suburb – Ayobo, a location, he said, was too far from his workplace in Anthony. According to him, long distance to work is affecting his health and productivity, hence the need to live in a serene and beautiful environment close to his office. To ensure the success of the programme, the Lagos State Ministry of Housing led by its Commissioner, Mr Bosun Jeje, had, at the weekend, handed over to the Board some government residential estates in the metropolis for the exercise.

NIOB seeks platform for building professionals in Africa

he need to promote excellence in the building across Africa is yielding positive results as professionals in three countries - Nigeria, Ghana and Zimbabwe - are collaborating towards establishing a platform for building profession practitioners. On what led to the initiative, according to the communiqué issued at the end of their first meeting in Accra, Ghana and signed by Mr. Chucks A.

Omeife; representing the Nigerian Institute of Building , Mr. Daniel B. Garwe, representing Construction Industry Federation of Zimbabwe and Mr. Rockson K. Dogbegah, representing Chartered Institute of Building, Ghana, the professionals said they were worried by the various problems associated with the building industry in Africa which include low quality work delivery and building collapse. This, according to the com-

muniqué, must not be allowed to continue, hence “the essence of this platform which will be proactive through training, ensuring adherence to standard and global best practices.” The major reason for this initiative, according to the conveners, is for the body to become the leading continental body, promoting excellence in the building profession by bringing together practitioners for the promotion of innovation.

Rotary embarks on water schemes in communities, schools

he Rotary International District 9110 has continued to affect lives and communities through developmental projects within the district. Speaking during the 2014 Rotary Foundation Fund Raising Dinner to celebrate the birth date of Rotary (February 23, 1905 by Paul Harris), the District Governor 2013-14, Mr. Olugbemiga Olowu, disclosed that district 9110, consisting of Lagos and Ogun states with 82 clubs, have successfully initi-

ated and carried out provision of water and sanitation systems to schools and communities. This year alone, Olowu said, Rotary “has prosecuted 22 water and sanitation schemes in schools in Lagos State.” Olowu disclosed that the district carried out over 1,000 eye-cataract surgeries with the co-operation of an eye foundation in India every year, adding that it also embarked on disease eradiation projects to ensure that families know their health

status while it also distributed mosquito nets, sanitary towels and vitamin-induced drugs. He further said that the district had been able to reach 99,000 people in 2013, adding that this year, “we are planning to reach over 100,000 people.” Towards educational advancement, the district governor said Rotary has provided scholarship to brilliant but indigent students through the District Education Welfare and Endowment Fund.

BUSINESS | AVIATION 37

Sanctity of Truth

Tuesday, March 4, 2014

approval NAHCO gets Presidents approval to play in the Free Trade Zone Stories by Abdulwahab Isa

presidential approval has been granted to the subsidiary of the Nigerian Aviation Handling Company Plc (Nahco aviance) - NAHCO FTZ Limited, to play in the Free Trade Zone. NAHCO, in a statement notified the Nigerian Stock Exchange (NSE), said that the FTZ presidential approval was granted on the recommendation of the Minister of Trade and Investment and NEPZA to support trans-shipment and light industrial and logistics, and agrizone activities at Murtala Mohammed International Airport, Lagos. It said the details on the licence would be communicated to stakeholders in due course. But market operators were optimistic that it is a positive move that will strengthen the company's diversification and boost its fortunes and deliver higher returns going forward. NAHCO Group Chairman Mallam Suleiman Yahyah, had told shareholders during last year's annual general meeting (AGM) that its investment in

expansion The passenger terminal in Owerri was expanded to double the size of the old terminal.

he Sam Mbakwe International Cargo Airport, Owerri airport will boost economic activities in the South East, the Supervising minister for Aviation, Dr. Samuel Ortom, has said. The minister disclosure this while inspecting facilities at the airport at the weekend. He was accompanied to the airport by the supervising Minister of Foreign Affairs, Prof. Viola Onwuliri; Special Assistant to the President, Dr. Sylvester Monye; the Permanent Secretary, Federal Ministry of Aviation, Mrs. Jamila Shu’ara and the Managing Director of the Federal Airports Authority of Nigeria, Mr. George Uriesi. The tour took the inspection team to the passenger terminal, the on-going apron expansion project and the new cargo terminal of the airport. The two ministers at separate

NAHCO's subsidiary gets Free Trade Zone license the ultra-modern warehouse in Lagos was beginning to yield desired results. To complement the Lagos investment, the company said it had also embarked on renovation

of its Kano warehouse as part of its strategic support for the federal government airport modernization programme. It also anticipates increase in cargo and passenger move-

ments at Mallam Aminu Kano International airport, going forward. In addition, the company in 2013 commissioned the first IATA-approved Learn-

ing and Development Centre to enhance international training for aviation staff in the ECOWAS sub-region and ensure better and efficient collaboration February 28, 2014.

Dana Air supports child education

Senior Manager Networks, Vodacom Business Nigeria, Mr. Olumide Idowu (left), speaking with the Student of Federal Science and Technical College, Yabaduring a one day ICT field trip to the Company in Lagos…at the weekend.

Owerri airport, boost for economic activities, says Ortom comments during the inspection, praised President Goodluck Jonathan for envisioning the transformation agenda in the aviation industry, which

has led to undeniable positive developments in the industry. The passenger terminal in Owerri was expanded to double the size of the old termi-

nal and has a full complement of the ultra modern terminal facilities, including conveyor belts, check-in counters, offices, toilets and shops.

Southern Sun Ikoyi bags award

outhern Sun Ikoyi Hotel has emerged winner of the prestigious and coveted award of ‘Best Hotel Nigeria 2013/2014 African Region'. At an award ceremony organised by the International Hotel Awards, the hotel, in a statement, said it clinched the prestigious award for the second time. Coming after winning the award for Best Hotel Nigeria 2011-2012 (Africa Region), the hotel’s General Manager, Mr. Mark Loxley, expressed delight with the hotel's successive win in two years. He attributed the success to "fantastic team effort,

ongoing hard work and the dedication of staff and management in providing a high level of quality guest service, diligence and commitment". Loxley, according to the statement, noted that the award will "encourage staff and management to continue in their efforts, towards maintaining very high quality of service delivery at all times". These awards, he explained, represent the hotel’s consistency in maintaining years of international standards, which ultimately confirms Southern Sun Ikoyi Hotel as a topmost player in the hospitality industry.

Likewise, the awards are in recognition of the hotel’s consistent delivery of quality products and customer service over the years Reputed as the only organisation providing 5-star accolades at an international level, the International Hotel Awards, is a highly sought after recognition. The award, which was developed to identify, highlight and reward excellence throughout the global hospitality industry, determines the finest hotels and hospitality companies in the world. It has a panel of experienced professionals who are versed with the range of hospitality disciplines.

ana Airline has extended the focus of its corporate social responsibility to child education. The airline in partnership with Bi-Courtney Aviation Services Limited (BASL) took pupils on an educational excursion of airport facilities that included having a firsthand experience of how an airplane works. The weeklong expedition programme, according to a statement, saw the airline opening its aircraft doors to over 500 pupils drawn from various schools across Lagos State. While welcoming the pupils to the aircraft provided by Dana Air for the expedition purpose, the Chief Pilot of the airline, Captain Segun Omale, expressed happiness that Dana Air is once again leading in the drive to impact on the lives of children.

Emirates named best global airline brand

mirates, a global connector of people and places, is the most valuable airline brand worldwide for the third consecutive year, The Brand Finance Global 500 report for 2014 has said. According to statement, the airline, now at the 234th position in the list, is also the most valuable brand in the Middle East for the fourth consecutive year, and is currently valued at US $5.48 billion, an increase of 34 per cent over its 2013 value. “A strong brand is an important business differentiator, and that is why Emirates has continually invested in our brand over the years. We are delighted that our brand valuation has increased and that Emirates has retained its top position."

38 BUSINESS | AVIATION

Sanctity of Truth

Tuesday, March 4, 2014

Nigerian airlines still in the woods WOLE SHADARE, writes that times were when Nigeria airlines flourished. But today, they have shrunk to an all time low with virtually all of them struggling to survive.

Aero's B737-500 aircraft

hat they are in serious financial dire straits is stating the obvious. Nigerian airlines are daily going through excruciating pains: Some are self inflicted while others are as a result of government’s policies that have made them vulnerable. While some have gone under, majority of them are wobbling. Virtually all of them are in intensive care. It is however, not all gloom and doom; some of them can actually be revived through careful re-engineering and sound business model. The Problems Chief among the problems of Nigerian airlines is the astronomical cost of aviation fuel. The commodity, otherwise known as JET A1 is said to be the most expensive in the world, with a litre going for as high as between N98 and N108 depending on area of purchase. Fuel prices can have signiﬁcant impact on an airline’s bottom line, not least when the state of the capital markets has left many airlines strapped for cash. If jet fuel costs are not actively managed, an airline could not only exceed its forecast budget, but could also reduce proﬁt or increase its loss. Fuel will account for more than a third of costs at carriers globally. Jet fuel prices are close to the tipping point for airline profitability and, while limited fuel surcharges may hold, it is doubtful the market is sufficiently resilient to absorb much more in the way of higher fares. The double impact will translate quickly to the bottom line. Price increases unfortunately stimulate an almost inverse correlation relationship, where costs increase on one side and yields soften as

Arik Air's premium class cabin

discretionary spending slows. One knee-jerk response to these increases is to insert fuel surcharges, even where this runs the risk of dampening demand. But pro-active airline fuel-efficiency programmes will also become crucial. With the focus on the key dimension of price (eg, the price of jet fuel, or hedging), little attention is paid to the other dimension of fuel cost, namely volume. A lot more can be done about fuel volume consumption. Globally, fuel prices can have signiﬁcant impact on an airline’s bottom line, not least when the state of the capital markets has left many airlines strapped for cash. If jet fuel costs are not actively managed, an airline could not only exceed its forecast budget, but could also reduce proﬁt or increase its loss. Experts’ perspective Aviation consultant and a former Commandant, Murtala Muhammed Airport, Lagos, Group Captain John Ojikutu (rtd) told New Telegraph that lower utilisation helps load factors, but spreading fixed asset costs over fewer hours in the air pushes up unit costs. According to him, “Demand continues to improve, but profitability remains ever distant. Fares have stabilised, but at profitless levels. Meanwhile, cost pressures are mounting from reduced air-

craft utilisation and rising oil prices”. The President, Sabre Networks and former Executive Director, Bellview Airlines, Gbenga Olowo, said the government should be asking the question on why “all our airlines are dying.” He said that there could be political undertone to why all the airlines have gone into oblivion. “If Okada airline died, if Kabo died and EAS died, if Bellview of so many years could die, what is the government doing? Is it that all the investors are crazy? Is it because they are Nigerians? We should be asking the question as a mother: Why are my children dying?” Olowo said for sanity to prevail in the aviation industry, the government must be ready to force all local airlines to consolidate into four formidable airlines to favourably compete with foreign airlines. He described the sector as “grossly underperforming”, with a whooping indebtedness of about N190 billion. The expert stated that the multiple entries of foreign airlines to many airports of the nation has done incalculable damage to the fortune of the country’s airlines, adding that the former are supposed to be allowed into one entry point in Nigeria with Nigerian carriers doing the distribution. According to him, the principal motive of Bilateral Air Services Agreement

Fuel will account for more than a third of costs at carriers globally. Jet fuel prices are close to the tipping point for airline profitability

(BASA) is reciprocity and economic balance of trade as a strong factor in national income. Statistics from Oxford Economics puts the contribution of Nigeria’s aviation to the country’s Gross Domestic Product (GDP) at N119 billion (0.4 per cent), with N59billion coming from airline, airports and ground services; N35 billion going directly to supply chain; N26 billion on employees consumption and supply chain and N78 billion in ‘catalytic’ benefits through tourism (0.2 per cent). Another statistics from Aviation Benefits Beyond Borders 2012, showed that while the sector contributes 0.4 per cent to Nigeria’s GDP, Spain gives 5.2 per cent to the Spanish economy; United Kingdom 5 per cent, UAE 3.5 per cent, Canada 2.6 per cent and Germany 2.6 per cent. To confirm that the carriers are in serious dire straits, statistics available to New Telegraph recently puts Arik’s total debts at $600 million (N102 billion), although the carrier has disputed this claiming that it does not owe that quantum of debts; Air Nigeria $225.8 (N35 billion); Aero Contractors, N34 billion, Chanchangi $55 million (N9.4 billion); and IRS $55 million (N9.4 billion). With the incessant plane crashes, airlines find it extremely difficult to convince passengers of their safety. This however, adversely affects patronage; a situation that puts affected airlines in serious financial dire straits, thereby making them to close shop. Experts are wont to agree that most of them lack knowledge in strategic management, contract negotiation, aircraft and engine lease rentals, right routes, right aircraft type and right staff skill.

BUSINESS | aviation 39

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Tuesday, March 4, 2014

Peru posts significant domestic aviation growth in 2013

eru, Chile and Colombia recorded the largest domestic aviation growth among the large South American countries in 2013. Peru’s domestic passengers levels increased 15% to 8.3 million, according to Peruvian CAA data. Colombia also recorded 14% domestic growth to nearly 22 million passengers. Argentina posted 12% domestic growth in 2013 to roughly 12.5 million passengers fuelled by a domestic push by state-owned flag carrier Aerolineas Argentinas. A major similarity between Chile and Peru is that on paper both countries seem ripe for LCC penetration given that each country is dominated by one full-service carrier. According to Centreforaviation.com, LAN Peru held a 64% market share in Peru’s domestic space in 2013 followed by TACA Peru (now rebranded as Avianca) with a 14% share. It is a high-stakes gamble to

compete with LAN in markets where it is the dominant carrier, which is likely why the low-cost model is absent from Chile and Peru with no visible signs of a low-cost entrant emerging any time in the near future. At one point the Viva Group has considered the Chilean market for a third Viva franchise after establishing carriers in Mexico and Colombia. But Viva is now focusing on Peru and Central America. The Viva Group has yet to crystallise its plans for a potential new Peruvian low-cost carrier; but VivaColombia plans to launch new international destinations in 2014 including service from Bogota to Lima where it will compete with Avianca (both legacy Avianca and TACA Peru, which is also now braded Avianca) and LAN. Perhaps the Viva Group is waiting to examine the performance of injecting low-cost competition on that route before a fullscale move into Peru’s domestic The business aviation industry’s high hopes for market growth in China are a big factor in the success of the annual market. ABACE show.

ABACE to open next month F

or the third successive year in recent times, the Asian Business Aviation Convention & Exhibition (ABACE)– which is organized by NBAA in conjunction with the Shanghai Airport Authority, the Asian Business Aviation Association and the Shanghai Exhibition Center–will return to Shanghai’s Hongqiao Airport. It will run from April 14 to 17 at Shanghai Hawker Pacific’s Business Aviation Centre FBO, and will feature a 43,000-sq-ft (4,000-sq-m) hangar, a 52,000-sq-ft (4,800-sq-m) exhibitor pavilion and extensive ramp area for the static display. Located only eight miles (13 km) from downtown Shanghai, Hongqiao is growing in stature as a mainstream business aviation airport. Last year’s event illustrated how much business aviation has to offer China and the broader Asia-Pacific region, given the small but growing number of aircraft based in China. Visitor numbers last year (at 7,714) were 20 percent up on the previous year’s, and organizers expect a similar increase this year as the event

grows in stature. Last year there were 180 exhibitors, about a quarter of them from the Asia-Pacific region, and 34 aircraft were on static display. Jason Liao, NBAA’s representative in China and chairman and CEO of the China Business Aviation Group, predicts that ABACE could be as big as EBACE within three years. Chinese airspace issues are likely to be a topic of discussion again this year, but the outlook is better now than it was 12 months ago, following further relaxation in control of lower airspace last December. Another key question surrounds what types of aircraft and rotorcraft will be of interest to buyers. Helicopters in particular are catching on in urban regions such as Shanghai. Educational Opportunities In its member magazine Business Aviation Insider, NBAA will publish a special section for the event titled “Asia in Focus,” intended to “offer guidance of interest to ABACE attendees about the

Chinese airspace issues are likely to be a topic of discussion again this year, but the outlook is better now than it was 12 months ago, following further relaxation in control of lower airspace last December opportunities and challenges inherent in operating in the region.” NBAA president and CEO Ed Bolen is updating the association’s members on “the development of operating policies throughout the region, in consultation with top directors general from the Chinese government and other regional aviation authorities.” “Entrepreneurs throughout the Asia-Pacific region are increasingly recognizing the potential of business aviation for helping companies of all sizes compete and succeed,” said an NBAA spokesman. “We know that these business leaders and other decision-makers are attending ABACE to learn more about what’s involved in using an aircraft for business,” he added. Another topic addressed will be “the possible

benefits to the industry from the recent designation of ABACE host city Shanghai as a free-trade zone.” At the time of writing, the speakers for the ABACE 2014 Opening General Session had yet to be announced, but there is already a good range of speakers and topics planned for the other conference sessions. Sessions include “Business Aviation Growth and Opportunities,” with speakers Jason Liao (China Business Aviation Group), Jeffrey Lowe (Asian Sky) and Mike Walsh (Asian Jet). One of the topics on the agenda is “Challenges for Asian operators flying into the U.S.: What to consider.” The Civil Aviation Administration of China (CAAC) will present a symposium on China’s business aviation policy

that brings together top-level regional, national and international officials to discuss issues in developing business aviation. Another session will discuss the “core statement of principles” made recently by the Asia Pacific Economic Cooperation transportation ministers, intended to help accelerate opportunities in the region. Helicopter operations will get attention, with a session focusing on infrastructure “impediments and opportunities” and airspace accessibility, as well as workforce development and training. The formation of a China Helicopter Association will also be discussed. Business aircraft safety and operations are also on the agenda, including “Operating into Asia from a pilot’s perspective,” a look at issues (parking, for example) in Hong Kong and India, and even planning for the Tokyo 2020 Olympic Games. A student day will allow for discussions centering on career paths and opportunities for pilots, engineers, schedulers/dispatchers and so on.

40 BUSINESS | aviation

Sanctity of Truth

Tuesday, March 4, 2014

Wow! Making planes in the world’s biggest building TOUR CNN’s crew tours boeing’s factory

prawled out before us sits the exterior of the world’s biggest building by volume. They make airliners here. Big ones. “Let’s go see some airplanes!” says our Boeing VIP tour guide. I remind myself: This doesn’t happen very often. Yeah yeah yeah, Boeing offers public tours of this 98.3-acre airliner factory north of Seattle every day. This ain’t that. This is special. As part of a convention of aviation fans called Aviation Geek Fest, we’re gaining ultra-exclusive access to the factory FLOOR. The public tour is limited to the balcony. We’re about to walk kneedeep where Boeing gives birth to some of the world’s biggest and most advanced airliners, including the 747-8 Intercontinental, the 777 Worldliner and the 787 Dreamliner. Hot damn. But not so fast -- before we go inside, Boeing has laid down some rules: no photos, no video, for our eyes only. Here’s a painful development: Our smartphones have been confiscated. Gulp. I’m already suffering from phantom phone pangs. We enter through a small, inconspicuous door marked S-1. Suddenly, we’re surrounded by partly assembled airliners in a room so big it takes on the feeling of an entire world. In some spots, we gaze across an unobstructed view measuring a quarter-mile. This building is so flippin’ big that -- years ago -- it created its own inside weather patterns, including vapor clouds. They eliminated that by installing a special ventilation system. Today’s factory forecast: avgeeking, with continued avgeeking and a favorable chance of avgeeking later in the day. Here are a few cool tidbits: Jaw-dropping perspective The thrill of being so close to the planes literally stops you in your tracks. Seemingly everywhere you look there’s another five- or six-story-tall airplane towering over you. Some are covered with a green, protective temporary coating. One Dreamliner tail is painted with the familiar British Airways red, white and blue. Another sports New Zealand Air’s cool black-and-white. Boeing paints the tails before they’re attached to the planes. Then they carefully adjust the tails for balance. Paint adds hundreds of pounds of weight, which would ruin the plane’s balance if

the tails were painted after being attached. Soon these behemoths will jet across vast oceans as they carry travelers to far-flung destinations. ‘You’ve gotta have secret clearance’ The planes’ huge fuselages are joined together with the help of a giant piece of equipment called a “saddle.” This U-shaped metal cage straddles the top of the planes during the body-joining process. The “Wing Build” area -- where workers attach wings to the planes -- is the loudest part of the entire facility. The staccato of rivet guns pierces the heavy air. Whooshing vacuums suck up any dust that may be created when workers drill into the planes’ lightweight carbon composite material. Security concerns in the plant are real. “Conversation-restricted area,” says one sign. As we walk past a fenced-off zone, our guide quips, “You’ve gotta have secret clearance. I can’t even go in there!” The rock star engine Then, like a holy relic brought back from the Crusades -- Boeing lets us touch “it.” By “it” we mean the GE90-115B. Guinness calls it the most powerful commercially produced jet engine in the world. We gather around this rock star engine like thirsty travelers at a desert oasis, each taking turns running our hands across its silver exterior. The lip of the engine’s mouth feels rough, like it has countless scratches etched into it. That design, engineers discovered, helps reduce noise. This 19,000-pound monster hangs from the wing of a giant 777, but the engine still looks humongous -- measuring more than 11 feet in diameter. In fact, Boeing says it’s so big you could fit the body of a 737 airliner inside it. “There’s no way to sense the sheer size of an airplane without being right there underneath it,” says NYCAviation.com contributor Ben Granucci, enjoying his first Aviation Geek Fest. Engines like this make it possible for wide-body planes to fly long-distance routes nonstop with only two engines instead of three or four. In fact, the 777 flies many of the world’s longest nonstop routes. In 2005 it set the world distance record for a nonstop commercial airline flight,

Boeing offers a public tour of its assembly plant in Everett, Washington. It’s the largest building in the world by volume, covering 98.3 acres. About 110,000 visitors tour the factory every year.

jetting 13,423 miles from Hong Kong eastbound to London in 22 hours, 22 minutes. The world’s top flying hauler Just a few hours earlier, a handful of aviation geeks were hanging out at a hotel next to Paine Field, the airport Boeing uses to test and deliver the factory’s planes. Then, Granucci tweeted out that the plane that hauls the most cargo by volume in the world just happened to be passing through. Count me in. Soon, a dozen camera-wielding geeks are lined up outside the hotel to welcome the Dreamlifter -- a modified 747 -- as it lumbers in for a landing. “We’re gonna be late for breakfast,” says avgeek Steve Dillo as he snaps photo after photo. “But this is worth it.” The thing roars like a lion, but it looks like a whale as it slows for touchdown. In the entire world, there are only four of these giant planes. Boeing uses them to ferry big sections of the 787 for final assembly here in Everett. Last year, when a Dreamlifter landed at the wrong airport in Kansas, it wasn’t exactly a stellar moment. The Avgeek News Network This is the fifth avgeek fest, co-sponsored by AirlineReporter.com and Everett’s Future of Flight Museum. The February convention drew a record 300plus participants from 18 different states and three countries. Former GM and Toyota engineer Philip McKenzie, flew 8,000 miles from Melbourne, Australia, to see how “things are laid

Boeing’s desire to connect with fans and fliers combined with the emerging power of the avgeek nation opened the doors to the exclusive Boeing tours

out” in the factory. Vancouver Airport official Trevor Batstone traveled 100 miles from Canada. Who are these people -- these avgeeks? What defines them? “It’s someone who always looks up in the sky when they hear a jet roar,” says Ryan Ewing, 14, who runs airlinegeeks. com out of his Bethesda, Maryland, home. Ewing was right there in the thick of the geeks with his camera when the Dreamlifter came calling. The event was born from an aviation-obsessed online community that uses social media to organize and share information. Aviation news sites like Airchive, AirlineReporter, NYCAviation and AirlineGuys all share common friends, connections and interests. When news breaks, their informal social network sometimes challenges traditional news media. This month AirlineReporter and a few other aviation sites broke news about the hijacking of an Ethiopian Airlines 767 in Rome about 30 minutes before many “legacy” news organizations, says AirlineReporter founder and editor-in-chief David Parker Brown. Boeing’s desire to connect with fans and fliers combined with the emerging power of the avgeek nation opened the doors to the exclusive Boeing tours, Brown says. “Boeing has increasingly realized how smart and educated about aviation avgeeks are.” Baby Boeings The following day southeast of Seattle, Boeing opens up yet another factory for us to tour. This one is the birthplace of what Guinness calls the “most produced large commercial jet in aviation history” -- the 737. No public tours here. This is a tour for avgeeks and VIPs. “Avgeeks love getting access to places that are off limits,” says

Brown. “It’s all about exclusivity.” Here’s some 737 tour trivia: —This place creates 38 of the planes every month on a moving assembly line. And they’re pushing to increase that rate. “Even though we joke that the 737 is the ‘Baby Boeing,’ it’s still a large and complex machine,” says Granucci. “It requires precision to put it together. The fact that you can perform such precise work on a moving target -- I find that to be incredible.” — The facility receives pre-assembled fuselages by train from a factory in Wichita, Kansas. — Workers attach wings to the fuselages. It takes about nine hours to put wings on a 737. —The planes also get “winglets” — the tiny, upward pointing wings you see on the wingtips of 737s and other airliners. These doodads reduce drag on the plane and make it more fuel efficient — by about 4%. —Workers install seats on the planes by using a loading machine they call a “hay baler.” — In an operation called “high blow,” Boeing tests each plane’s passenger cabin for possible leaks during pressurization. The procedure includes putting people inside the planes to listen for leaks. — Each 737 is made up of 42 miles of wire and 394,000 separate parts — If there’s a problem on the assembly line, workers activate a purple flashing light -- alerting others that they need help. “Blinking purple is bad for us here,” says Christian Ofsthus, a Boeing senior manager. “If there’s something wrong, something doesn’t fit, we need to do something about that.” “That is so cool,” I hear someone say. “Yeah,” said someone else, “baby planes!”

Culled from CNN.com

MOM&PARENTING

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TUESDAY, MARCH 4, 2014

How do you handle teenagers? Oluwatosin Omoniyi

“I

hate my mother! I wish she was dead!” These were the exact words of Dare Orija, 15, who stays in Abule Egba, with his mother and two other siblings. His mother’s offence according to him was the overbearing attitude of the mum. He said his mum does not like him to associate with his choice of friends and the type of lifestyle he desires. Dare likes to spend his whole day at the cyber café, looking for who he will dupe through the internet. If he is not at the Café, it is night outing with his friends, whom his mother described as fierce and homeless. Nike Orija, Dare’s mother and a single mother of three said, “I really wish I never had a child like him. He is a bone in my neck that I don’t mind to break away. It appears both mother and child are at each other’s throat for blood. The mother’s reason is because her child, whom she carried in her womb for nine months and nurtured from cradle, has grown into an unimaginable figure. “Since he joined the popular yahoo plus, he shouts back at me, even dare to slap me”, She said. According to her, Dare had twice escaped from a juvenile home in Oregun. He had also become a regular customer of various police cells. Indeed, he had become notorious and fearsome in his area. Allegations of various sorts, ranging from rape, theft, street fight, thuggery, harassments, e.t.c. flie in from different parents to Dare’s mother. On some occasions, fellow mothers have had cause to come in to beat her up in revenge for their children beaten up by Dare. “I also get beaten up occasionally whenever there are fisticuffs between Dare and his members.” She recalled one of the occasions when one of the gang members wanted to rape her while her son made no attempt to rescue her because he was under the influence of marijuana. Luck however smiled on her as her landlord and neighbours rushed to her apartment. It is a similar story with Funmilayo Ajayi, whose prayer now is let her 19 year old daughter, Bose not kill her before her God-given time. She said she has tried all possible means of making a decent girl out of her. She has tried different counsellors, pastors, and juvenile homes. But all efforts proved abortive. According to her, Bose sleeps around with different men. She goes in and out of the house at will. She does as she wishes.

Unhappy teenager

But she was honest enough to blame herself for the child’s misdemeanour. She wasn’t there for her daughter when she was growing up due to the nature of her work She also does not help with the house chores. Of recent, the mother said the shocking aspect of her daughter’s change in behavioural pattern is the coarse voice, an indication that she has started taking marijuana. “Before I make a statement, my daughter would have given me dozens of words in different tones and slangs.” Ajayi got the shock of her life when she took her daughter to Area G” Police Station to threaten her with cells and the nature of its inhabitants. She was greeted with cataclysm of noise and dirty slangs from the inmates cheering her daughter with different names like tomatoes, my pot of soup, cassava farm e.t.c. As if that discovery wasn’t enough, she also discovered that her daughter had been the bone of con-

tention between two police officers at the station. The officers were fighting over Bose. She resigned to fate, “To your tent o Israel,” she said. Bose, looking weird in her long artificial eye lashes, multi coloured hairstyle and a black slack with a brown fitted top, exposing the cleavages of her burst, dismissively told NT Mom & Parenting, “It’s my life and I should live it the way I deem fit.” For Glory Ekong, she would neither stay with her parents in Abeokuta nor with her aunty in Lagos. She described them as overbearing and too strict. She believes the parents are too demanding and over expecting from her, while her aunty, she affirmatively said, is too strict and choking for her. She ends up staying with some group of friends in a hotel called “Medallion Hotel” in Ojodu, a suburb of Lagos State. With her friends, she is as free as a lame man’s leg. The girls, all in their teenage age, look weird and awful. Aside the common prostitution, they practice pornographic films and post on the internet for prospective customers, who are mostly foreigners. Already, at the age of 17, Ekong has committed three abortions. The peak of the abortion is the one she did at seven month of the pregnancy.

She was induced by a local nurse to deliver a baby boy who later died. “I am not yet ready to be a mother of a child that I can’t identify the father.” Obviously, Ekong has chosen a path that only divine intervention seems capable of changing. She said she can’t figure out any other job apart from the prostitution she described as lucrative. Her mother who believes Glory’s waywardness is a spiritual attack because her other children are well behaved, said she has been to various pastors and even taken her for series of deliverance, yet there has been no positive result. But she was honest enough to blame herself for the child’s misdemeanour. She wasn’t there for her daughter when she was growing up due to the nature of her work. She would go out early in the morning when her family members are still snoring on and return late when they are also snoring on their beds. She is, however, hopeful to see a changed Ekong and pray that her other children don’t turn out to be like her. The cases above are a few of the unlucky teenagers influenced by peer pressure against parental upbringing. C O N T I N U E D O N PA G E 4 2

42 MOM&PARENTING

Sanctity of Truth

Tuesday, March 4, 2014

Handling teenagers CO N T I N U E D F R O M PA G E 4 1

While it is a bad case for them, it is a pleasant for some parents. Different stroke for different folks, as the saying goes. Olamide Bukola for example; “I have been extremely lucky with my teenage children, especially with my teenage daughter, Winifred.” She said she started with her daughter early. Bukola had to adopt a trick to hold her daughter firmly. She educated her about her body and her organs. “I told her that if she allows men touch her, it would result to pregnancy, which could claim her life in an attempt to get rid of it or deliver the baby when she is not ready.” It worked, according to her. Thereafter, I befriended her till she finished her university education. “At this stage, I fear less,” she said. The only battle she didn’t win is the house chores which Winifred abhors. She beat her severally, but Winnie as she is fondly called by her parents will only do the little she desires to do. Ronke Ogunyomi is another lucky girl. By appearance, Ogunyomi, light complexioned and very pretty, is a girl men would like to be with. Apart from being a naturally likeable girl, Ogunyomi does not know how to turn down men’s advances. The mother said, her daughter was practically seen in every corner of her environment with men. She pleaded with her, talked to her, even took her to church. All efforts didn’t yield the positive result. After a critical session with her husband one evening, she tied a piece of red cloth on a stick and threw it on her daughter just to scare her. She told her that an herbalist, who gave her the voodoo accompanied it with a stern warning that no man should sleep with forthwith, else she will die. “My sister, it worked like a magic!”

According to the mother, Ogunyomi ceased being promiscuous. She was delivered of a set of twin last month to the man she decided to marry after her many escapades. She is indeed lucky. Teenage age is full of challenges for both parents and teenagers. Experts say it is a stage that requires parents’ full attention and understanding. Gbemisola Ajewole, a guardian counsellor at St. Leo Catholic Nursery and Primary School, told New Telegraph that parents at this

stage need to be fully alert because the age is full of exuberance, which they consider as fun. “If they are not properly guided, they might stray.” She advised that parents should be interested in every step of the child, start early with them, so that they will be able to confide in their parents on anything that crosses their way. She pointed out that it was important to always sample out their teenagers opinion on issues before taking decisions. “This makes them feel important and encourages close-

ness between them both.” The reality of life, she added, is that as they are getting older, they get the vision of life clearer and wiser. Nneka Ozowalu, a mother of six and business woman, advises that it is very important to always pray with them at the teenage stage as it is a critical stage for them. “Don’t shout all the time or beat them; hence they are scared away from the mother, whom they ought to befriend. Find out their areas of interest and be passionate about it with them.”

... Rules on building relationship From Dr. Phil. com, an advice on teenage and parents relationship website, the following advice are relevant Develop a Healthy Relationship with Your Teenagers. stablish Rules For Your Teen Teenagers need rules to live by. They need a structured environment and they need to be accountable for their actions. Parents must enforce the rules they put in place, so their children will know that there are consequences for their actions. Set rules for dating, driving and other teen behaviours that make you nervous as a parent. Teens need to earn the trust of their parents, and then, they will earn the right to have privileges.

Be Involved In Your Teen's Life Develop relationships with your children. Talk with them about their lives. Support, encourage and show love to your children. You cannot watch your children at all times, so it is important to establish a trusting relationship so they will feel comfortable coming to you with their questions and problems. Get to know their friends and the people they want to date. Ask questions to find out who they are as people and what their morals and values are. Be aware of the television shows they watch and monitor the websites Instill Confidence In Your Teen If parents do not instill confidence in their teens, they will seek approval from

other sources. In Alex's situation, her father was not plugged into her life, so she sought the attention of males outside of her family. This caused her to have poor judgment and become sexually active. Dr. Phil explains to Marty, "You, as her father, did not instill in her enough confidence in her dealings with men that she can tell herself, 'I don't have to do this to be accepted.'" He says that when Alex became sexually active, she gained a sense of power. He explains Alex's thinking, "'This is something that I have that they Help Your Teen Find A Passion Parents can help their children find a passion and help them become involved in it. Alex had told Dr. Phil that she is interested in marine biology. He tells her that she should explore this passion of hers to get her mind off boys

and dating. Dr. Phil arranges for Alex to go to the Cayman Islands to learn scuba diving and explore the ocean and marine life. Be Open And Honest With Your Parents This is the only way you will earn trust from them. Don't tell your parents what you think they want to hear; tell them the truth. If you think they will use your honesty as leverage against you, then explain that to your parents so the dynamic can change. Don't Live In The Moment It is important to think about and plan your future. Pursue A Passion In Your Life Find something that you really enjoy doing, and learn as much about it as you can. When you immerse yourself in a passion, you will not be so focused on the opposite sex and let them hold you back from achieving your goals.

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TUESDAY, march 4, 2014

Despite efforts to improve transportation system in Lagos State, many people risk their lives hanging on the train, writes TUNDE OSOWE

Lagos train shuttle: Still a dangerous ride

ne of the popular inscriptions on big commercial buses in Lagos years ago read: “Life has no duplicate.” The inscription was a subtle warning to motorists and other road users not to endanger their lives. But the way some of the residents of Lagos take risks with their lives these days suggests life itself is replaceable. During rush hours, particularly in morning and late evening, it is a common sight in Lagos for passengers to either sit on the roof of the train or hang dangerously on its sides. Many people have died after falling from the roof of the train. Some few lucky ones have permanent disabilities to nurse. This has continued unabated despite efforts by the management of the Nigerian Railway Corporation (NRC) to discourage passengers from hanging on the train. Since the resuscitation of the railway system in the country, the problem of these people, who the corporation has termed illegal passengers, has defied solution. Investigations show that the illegal passengers have refused to desist, despite threats of arrest and prosecution by the corporation. Last week, as early as 6am, people, in their hundreds, were seen at the Agege train station, waiting for the Iddo-bound train. As soon as the train arrived, they scrambled to get hold of it. The same thing, an official of the NRC, who craved anonymity, claimed will also occur in the evening. “It is their usual practice,” he added. A middle-aged man simply identified as Saidi, whose marriage was scheduled for December last year, was almost electrocuted while sitting on top of the train. After the incident, he was rushed to the hospital where doctors battled for many hours before they could save him from the pangs of death. According to a media report, Saidi was said to have joined the train at Agege heading to Iju area. A woman, who refused to disclose her name, claimed that a man in her neighbourhood died sometime last year when he fell from the roof of a moving train somewhere in Agege. “The man, we learnt, fell from the roof and rolled under the train, which crushed him. Unfortunately, when they searched

Some passangers hanging while others are sitting on top of a moving train.

his pocket, they discovered train ticket and about N7,000.” The NRC’s Assistant Director, Public Relations, Mr. David Ndakotsu, told our correspondent that the corporation was aware of the activities of the illegal passengers. According to him, instead of paying the necessary charges to obtain their tickets, the passengers prefer to join the train soon after take-off. He said: “Truly, we have incidences of such unruly behaviour and abuse of the system. There is no justification for why they should be hanging on the train, especially along the Iddo-Agbado route, Lagos Apapa route among others.” According to him, people who do not want to pay money are culpable. The assistant director said that such fare was nothing when compared to what was obtainable in other forms of transportation, especially the road transport. He said: “For a trip from Iddo to Ag-

There is a law which prohibits anybody hanging or standing on train coaches

PHOTOS: TUNDE OSOWE

bado, I think it is about N100. Can such amount be offered for payment with a commercial bus? It is absolutely impossible. Despite the little charges, people still find it comfortable to cut corners. “That is the extent to which indiscipline and abuse have gone in our society. We have the tendency to abuse whatever policy or system that is introduced, irrespective of how beneficial the system may be. “On our part, we are poised to address the issue with multi-faceted approach. We have launched an advocacy programme to orientate members of the public on the dangers involved in hanging or sitting on a moving train. “We are also working in conjunction with the Federal Road Safety Commission (FRSC) on effective monitoring and compliance with road safety regulations. There is also the enforcement arm which covers arrest and prosecution of defaulters.” According to Ndakotsu, there is a law which prohibits anybody hanging or standing on train coaches. He disclosed that about 23 of those arrested were currently been tried for attempted suicide. But some of the passengers disagreed

with Ndakotsu’s submission. According to them, most of the passengers resort to sitting on the roof or hanging on the sides of the train because it is usually congested. They argued that there had been astronomical increase in number of passengers now patronising the corporation, but that the NRC had not done anything about how to cope with the upsurge. A passenger, who identified himself as Adio Rahman, said that despite the congestion, he was more comfortable to use the train. According to him, it is the cheapest form of transport in the state. He said: “I reside at Agbado-Ijaiye area of the state, but work at Ebutte-Meta. So, it is more convenient and comfortable for me to use the train. Although, there is an upsurge in the number of passengers that use the train now are days, unlike what it used to be at inception. “While I won’t advise anyone to resort to hanging on either the sides, or sit atop the train, it is more expedient to let the corporation know that it has to sit up and face the challenges confronting the system. “With time, I believe things will get better, if only the appropriate things are done.”

44 features

Sanctity of Truth

Tuesday, March 4, 2014

Shagari

Obasanjo

Abdulsalami

Babangida

Buhari

Lugard

Nigeria: A nation still crawling at 100 Despite her natural endowment and potential for greatness, Nigeria has remained a toddler at 100, writes CAMILLUS NNAJI

ncient Greek philosopher, Socrates, wrote at the entrance to his oracle of Delphi: “Man Know thyself; an unexamined life is not worth liv-

ing.” Socrates’ call to self-knowledge and disclosure liberated the Greeks from a life of mere vegetative level of animal’s existence to a reflective grasp of factors constituting their existence in a cultural, socio-political and economic setting. Men who have lived to be 100 years are to be celebrated as great grandfathers, who have fulfilled their mission on earth, full of wisdom, grey haired, self-actualised, spiritually inclined and symbols of peace, justice, equity and accountability. But many people are wondering whether Nigeria really possess these qualities, especially as the Nigerian nation rolls out the drums to celebrate the 1914 amalgamation of the Northern and Southern protectorates by the then Governor-General, Lord Frederick John Dealtry Lugard. Many Nigerians wonder what the proximate and remote causes of the dwarfed growth are. Despite the hugely human, material and natural resources Nigeria is endowed with, the country is still grappling with unending political quagmire, religious acrimony and bigotry, social brouhaha and economic recession. Miffed at the country’s socio-political

and economic challenges, Prince Charles Dickson, a political commentator, declared that “Nigeria’s problems are Nigerians.” He said: “What is the problem with Nigeria? Who is the problem, you and me? Today, I dare say that the problem with Nigeria is Nigerians.” According to Dickson, Nigeria is a lovely country to live; it is not a police state like western democracies. He said the emphasis placed on transformation agenda of the Federal Government was mockery where, according to him, billions of dollars are spent without results. The political commentator cited the case of power supply which has become elusive. “It is equally baffling to see the available power supply is not paid for by both the government and the governed. How then can there be growth?” he queried. Similar to this apathy to power generation and supply, according to him, is the neglect to the demand of the ‘rule of law. Corroborating his views, Bishop Oscar Ossai, a Pentecostal bishop and convener ‘Church in Politics’, said Nigeria had been a sick country and had remained sick for a long time. The bishop said if he were a surgeon to fix Nigeria in the theatre, he would start with identifying the causatives of

the problems. One of the most important of the problems, he said, was the political imbalance between the North and the South. According to him, the military dictators of northern origin created so many local governments in the North. He said: “Political landscape between the North and the South is not in equilibrium… an average northern politician feels untouchable, superior and without him nothing can be done; he treats the country with impunity.” But to resolve this, according to him, requires unity of purpose, in terms of accountability, probity, equality, social justice and pursuit of common good. The cleric said that another factor that had contributed to Nigeria’s retarded growth was erroneously believed pseudo national population census figures. According to him, the figures are not factual enough to plan national development on equitable level. He said: “Given the facts on landmass, Nigeria is the only country where the population of the arid region is more than that of the coastal region tending to

Nigeria is the only country where the population of the arid region is more than that of the coastal region

the water. These false population figures have been accepted and adopted without questioning.” Another factor, Ossai said, was politicians’ penchant to perpetuate themselves in power. He said: “People should make their contributions and step aside. It is only in Nigeria that somebody wants to be politically relevant, sitting in an elective post for 50 years in a population of 150 million Nigerians. “I respect former President Shehu Shagari, who served, stepped aside and refused to be dominant in political issues. “You cannot get him involved in political controversy either. Such person must be a lesson for former Presidents Olusegun Obasanjo, Muhammadu Buhari, Ibrahim Babangida, and Abdulsalami Abubakar.” Ossai added that religious unrest, corrupt practices, ethnic violence and sectionalism had characterised the democratic post-military dictatorship regime. He said: “A country where members of a sect are sponsored to kill innocent school children, people at worship centres, university students, old men and women in villages, people at motor parks in their thousands in the name of Boko Haram. These have defined Nigeria’s democratic growth. “A country where by corruption is stinking and the legislative arm finds no problem approving 25 per cent of the overall budget to themselves and nothing happens; is a country with stunted growth. “This is a country where the educational system and legacies set by the old colonial masters and missionaries have been have been thrown to the gullies; what is working are private schools and universities only made affordable to the rich in the society. This is nothing but stunted growth.” According to him, the health care provision and facilities are obsolete, written off and medical tourism to India, Israel, United Kingdom and the United States has taken so much money in foreign currency. He said: “A trip to the University Teaching Hospitals across the country, the Federal Medical Centres and the state-owned hospitals leaves a painful experience of where people who would have lived longer are rather sentenced to their early graves by harsh conditions of no electricity, qualified medical personnel and lack of care giving from the nurses and obsolete medical facilities. “It is surprising to state that a country of 160 million people has only one radiographic machine at University College Hospital (UCH), Ibadan, while cancer patients that want to make use of the facility will wait close to three months for their turn.” The President of the Nigerian Medical Association (NMA), Dr. Francis Faduyili, agreed with Ossai. He said: “All these have brought so much pressure on the tertiary health institutions. “There are things that are not to be seen at the tertiary institutions which are causing a lot of pressure on the medical professionals and because of this, the real work to be done at the tertiary health level are not done appropriately.”

METRO 45

March 4, 2014

eople have demolished my house, cries widow

RIDDLE Unknown people, aided by the police, demolished the house of a widow. They also evacuated the rubble! placed the building housing the widow and her seven children. Egoh, who described her experience as traumatic, said she was yet to recover from the nightmare.

She said when she returned, she saw six armed policemen providing security for those demolishing the house and some trucks. But according to her, when she asked them why they demolished her house, the policemen, who came in a Hilux bus with the inscription: ‘Lagos State Monitoring Team, Government Office’ Registration number (BL 719 BBG), threatened to arrest her if she asked more questions. She said the team’s leader, one Inspector Akombi, told her that there was nothing they could do than to carry out the order they said allegedly came from Alausa, Ikeja. “The police were even selling some of the materials on the spot,” the widow alleged. According to her, she went to the Police Area Command at Century Police Station, the Divisional Crime Officer (DCO) and another officer returned with her to the site, where they met the police team. She added that the policemen only shook hands with one another and told her to go to Alausa to sort things out. According to her, all the

people and institutions, including the “Omo Onile” and the Land Office at Alausa she went to, were helpless and said they did not know anything about the demolition. Also, Alhaji Akoliogun, who sold the property to Egoh, told our correspondent that he was shocked over the demolition. He said: “Egoh purchased the property legally and the documents are there to prove it. “The place was a close; not a road or a pathway. If those who demolished the house did a lawful act, then why are they hiding?” Egoh also said she suspected nobody. She said: “I have no quarrel with anybody. I bought the property and the foundation was not to my taste, I had to invest 600 bags of cement there to brace it up, only to see this kind of wickedness. Please help me to seek justice.” When contacted, the DPO in charge of Ago said the police were aware of the case and had advised Egoh on what to do. State Police Public Relations Officer, Ngozi Braide, could not be reached for confirmation as her phones were switched off as at the time of filing this report.

Police arrest three suspects, recover 45 freezers Juliana Francis

he Lagos State Special Anti-Robbery Squad (SARS) has arrested three people for allegedly stealing 45 freezers worth millions of naira. The police recovered the Coca-Cola customised freezers and impounded the truck conveying them marked; GGE346XF. The freezers, expected to be taken to Abuja and delivered to the Nigerian Bottling Company (NBC), makers of CocaCola, were diverted in Oyo State. The police initially arrested six suspects in connection with the stealing, but freed three of them after preliminary investigation. The three suspects, who investigators said planned the whole deal, are identified as Clement Ogbuti, Lateef Adebayo and Waheed Sariki. But Lagos State Police Public Relations Officer, Ngozi Braide, said SARS got information that a truck loaded with customised freezers, belonging to NBC had been diverted in Oyo State.

The truck driver and his partners in crime, Braide said, were attempting to transfer the goods to another truck when police surprised them on February 12. She said: “It was on the strength of the information that the Officer in Charge (OC) of SARS, a Superintendent of Police, Mr. Abba Kyarri, mobilised two SARS teams and deployed them to Oyo State, where the policemen intercepted and arrested the suspects and recovered the goods.” The manufacturer of the freezers, Frigoglass Industries Nigeria Limited, located at Sanyo, Ibadan, had hired the truck driver to deliver the goods to NBC. One Waheed Isa is the supervisor of the truck, who handed it over to Ogbuti to use in transporting the freezers to Abuja, for a commission. It was Ogbuti who loaded the freezers from Frigoglass’ premises, while Adebayo was the truck driver. He was said to have loaded the truck on February 6 and left the premises on February 7. The two men later contacted Sariki to look for buyers for them.

Fake prophet arrested in Port Harcourt Juliana Francis

olice in Rivers State said they have arrested a ‘fake prophet’ who duped a man of his Toyota Land Cruiser. The fraudster, simply identified as Victory Ibe, presides over ‘Favour Anointing Ministry,’ situated at No. 74A Ojoto Lane, Mile 3, Diobu, Port Harcourt. According to reports, Ibe confessed to the police that he was a perpetual dupe, who was always having in his possession a pro-forma change of ownership, which he used to make people part with their properties. He was said to have duped one Mr. Umejiego, a director of a private firm, who was lured into a false scheme through his wife. The Rivers State Police Public Relations Officer, DSP Ahmad Muhammad, who disclosed this, warned that “unscrupulous individuals now operate under the guise of being ‘God’s men’ to dupe unsuspecting members of the public.” He said: “In the case of Mr. Umejiego, Ibe instructed that a Toyota Land Cruiser, V8 be sown as a seed by the former. He thereafter pro-

The suspects

Man, 46, arraigned for cheating Ibe (left) and his brother

duced a change of ownership, which was promptly signed by the unsuspecting victim, who immediately handed over the original documents to him together with the vehicle. “Unfortunately for the fake prophet, the said vehicle was involved in a serious motor accident with the ‘prophet’ in it. Surprisingly, the self-acclaimed prophet also ‘prophesised’ that the same victim should part with the sum of N200, 000 to neutralise a curse placed on him and his household. “The victim complied with the instruction and paid the ‘prophet’ N90, 000 on February 17, 2014, which he informed his victim would be

donated to an orphanage. “However, as at the time of his arrest on February 25, the supposed ‘man of God’ was still in possession of the said amount of money. The fake prophet alongside his brother, one Apostle Austin Ibe, who used to act as his assistant, has been apprehended by the police and both of them will be charged to court at the appropriate time.” Muhammad said the fraudsters, masquerading as prophets, were on the prowl and always prey on gullible members of the public through the use of false prophesy and divine pronouncements.

46-year-old applicant, Bassey Francis, was yesterday arraigned at an Abuja Senior Magistrate’s Court for allegedly cheating a businessman to the tune of N660, 000. Francis is facing a two-count charge of criminal breach of trust and cheating. The prosecutor, Corporal Simon Emmanuel, told the court that the accused committed the offence in May 2010. Emmanuelsaidthematterwasreported byTuebiIzediumof CitecEstate,LifeCamp, Abuja, at the Life Camp Police Station, Abuja, on February 16. The prosecutor, according to the News Agency of Nigeria (NAN), said the accused in May 2010, told the complainant that he hadsecuredacontractforthesupplyof power inverters to Sheda Science and Technology Complex (SHESTCO) in Idu Industrial area, Abuja. He added that the accused then collected four power inverters, valued at

N660, 000 from the complainant. The accused, he noted, had confessed during investigation that he sold the inverters and diverted the money for his personal use. The prosecutor said the offence contravened the provisions of sections 312 and 322 of the Penal Code. If convicted, the accused is liable to seven years in prison or with an option of fine or both. However, Francis pleaded not guilty to the offence. The Senior Magistrate, Mr Zubairu Mohammed, granted him bail in the sum of N500, 000 with one surety in like sum. Mohammed ordered that the surety must be a civil servant not below Grade Level 08 and must be resident within the jurisdiction of the court. He adjourned the case to March 10, for mention.

46 BUSINESS | CAPITAL MARKET

Sanctity of Truth

Tuesday, March 4, 2014

The Nigerian Stock Market Exchange as at March 3, 2014 Daily Summary as of 03/03/2014 Printed 03/03/2014 14:41:55.055

Daily Summary as of 03/03/2014

Printed 03/03/2014 14:41:55.055

Daily Summary (Equities) Activity Summary on Board EQTY

Daily Summary (Bonds)

FINANCIAL SERVICES Other Financial Institutions STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

No Debt Trading Activity

Daily Summary (Equities)

AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol OKOMUOIL PRESCO

No. of Deals 24 23 47

Current Price 41.00 46.00

Quantity Traded 151,543 372,385 523,928

Value Traded 6,308,397.60 17,130,341.60 23,438,739.20

Symbol LIVESTOCK

No. of Deals 29 29

Current Price 3.91

Quantity Traded 942,115 942,115

Value Traded 3,730,263.58 3,730,263.58

1,466,043

27,169,002.78

Quantity Traded 137,545 62,336,007 72,600 62,546,152

Value Traded 219,212.90 229,673,219.13 4,728,374.02 234,620,806.05

62,546,152

234,620,806.05

AGRICULTURE Totals

CONGLOMERATES Diversified Industries A.G.asLEVENTIS NIGERIA PLC. Daily Summary of 03/03/2014 TRANSNATIONAL Printed 03/03/2014 14:41:55.055 CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

Symbol AGLEVENT TRANSCORP UACN

No. of Deals 4 419 36 459

Daily Summary (Equities)

Current Price 1.59 3.61 65.22

459

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

Page Quantity Traded 1,017,920 1,017,920

Computer Based Systems Totals

IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals

Value Traded 6,522,436.95 18,928,939.33 275,876,703.10

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

No. of Deals 15 16 20 20 5 76

150,659,939

1,422,075,712.35

Current Price 2.81 3.00 69.00 2.11 1.85

Quantity Traded 273,016 780,663 46,089 343,958 140,300 1,584,026

Value Traded 767,129.96 2,345,879.09 3,226,878.80 723,776.53 246,961.00 7,310,625.38

Symbol COURTVILLE

1,584,026

7,310,625.38

No. of Deals 4 4

Current Price 0.74

Quantity Traded 123,899 123,899

Value Traded 91,126.61 91,126.61

Symbol TRIPPLEG

No. of Deals 1 1

Current Price 1.97

Quantity Traded 1,000 1,000

Value Traded 1,880.00 1,880.00

Symbol CHAMS

No. of Deals 2 2

Current Price 0.50

Quantity Traded 254,928 254,928

Value Traded 127,464.00 127,464.00

379,827

220,470.61

2,297

Daily Summary (Equities)

Activity Summary on Board EQTY Published by The Nigerian Stock Exchange © ICT Processing Systems CHAMS PLC Processing Systems Totals

No. of Deals 32 32

Current Price 1.63

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

Symbol JBERGER

No. of Deals 8 8

Current Price 75.00

Quantity Traded 7,600 7,600

Value Traded 541,860.00 541,860.00

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

Symbol UAC-PROP

No. of Deals 8 8

Current Price 19.99

Quantity Traded 95,680 95,680

Value Traded 1,953,581.20 1,953,581.20

1,121,200

4,107,295.30

CONSTRUCTION/REAL ESTATE Totals

CONSUMER GOODS Beverages--Brewers/Distillers GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. JOS INT. BREWERIES PLC. NIGERIAN BREW. PLC. Daily Summary as of 03/03/2014 Beverages--Brewers/Distillers Totals Printed 03/03/2014 14:41:55.055

Symbol GUINNESS INTBREW JOSBREW NB

No. of Deals 66 8 1 113 188

Current Price 188.10 28.55 4.16 158.99

Quantity Traded 173,371 183,155 240 1,770,744 2,127,510

Value Traded 32,773,846.65 5,228,607.50 950.40 269,255,877.00 307,259,281.55

Symbol 7UP

No. of Deals 15 15

Current Price 82.64

Quantity Traded 73,512 73,512

Value Traded 6,241,809.92 6,241,809.92

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UNIONDICON UTC

No. of Deals 63 65 40 50 22 4 3 247

Current Price 9.43 11.20 78.00 3.89 13.20 13.07 0.56

Quantity Traded 760,550 3,289,513 121,300 1,231,392 150,713 96,330 19,237 5,669,035

Value Traded 7,179,071.73 36,901,884.36 9,507,977.63 4,773,446.86 1,965,456.85 1,201,583.90 10,770.54 61,540,191.87

Symbol CADBURY NESTLE

No. of Deals 53 55 108

Current Price 86.25 1,100.00

Quantity Traded 250,271 73,083 323,354

Value Traded 21,459,068.88 80,240,929.31 101,699,998.19

Symbol VITAFOAM

No. of Deals 19 19

Current Price 4.20

Quantity Traded 408,974 408,974

Value Traded 1,685,226.20 1,685,226.20

Symbol PZ UNILEVER

No. of Deals 49 109 158

Current Price 36.00 48.00

Quantity Traded 561,633 1,049,843 1,611,476

Value Traded 20,268,355.22 50,478,701.21 70,747,056.43

10,213,861

549,173,564.16

Daily Summary (Equities)

Activity Summary on Board EQTY

Page

Published by The Nigerian Stock Exchange © CONSUMER GOODS Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Daily Summary as of 03/03/2014 Household Durables Totals

Printed 03/03/2014 14:41:55.055

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

Daily Summary (Equities)

735

Published by TheSummary Nigerian Stock Exchange © Activity on Board EQTY

FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals Insurance Carriers, Brokers and Services

Daily Summary of 03/03/2014 AIICO as INSURANCE PLC. Printed 03/03/2014 14:41:55.055

CONTINENTAL REINSURANCE PLC

Page

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. IPWA PLC PAINTS AND COATINGS MANUFACTURES PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

of 11 Value Traded 1,611,854.10 1,611,854.10

Symbol COSTAIN

Daily Summary as of 03/03/2014 Electronic and Electrical Products Printed 03/03/2014 14:41:55.055 CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers

Page

INDUSTRIAL GOODS Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals

NATURAL RESOURCES Metals ALUMINIUM MANUFACTURING COMPANY PLC Metals Totals

Petroleum and Petroleum Products Distributors ETERNA PLC. FORTE OIL PLC. Activity Summary onPLC. Board EQTY MOBIL OIL NIG MRS OIL NIGERIA PLC. OIL AND GAS Petroleum and Stock Petroleum Products Distributors Published by The Nigerian Exchange © TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Symbol ACCESS DIAMONDBNK ETI FIDELITYBK GUARANTY SKYEBANK STERLNBANK UBA UBN UNITYBNK WEMABANK ZENITHBANK

No. of Deals Current Price Quantity Traded 156 7.82 15,915,034 52 6.62 3,517,699 63 14.50 1,475,514 94 2.27 5,025,943 294 25.15 6,358,658 139 3.87 6,667,375 55 2.38 6,733,971 165 7.81 6,809,795 82 9.47 634,876 7 0.50 1,680,460 52 1.10 4,009,330 256 20.93 33,012,679 1,415 91,841,334

Value Traded 124,123,810.48 23,464,895.36 21,419,282.98 11,870,274.94 160,779,862.96 25,558,133.06 15,298,319.93 53,675,160.81 5,953,642.95 840,230.00 4,533,736.40 682,052,318.11 1,129,569,667.98

Symbol AIICO CONTINSURE

No. of Deals Current Price Quantity Traded 25 0.85 474,388 7 1.10 5,112,000

Value Traded 404,315.01 5,617,200.00

Quantity Traded 627,094 84,111 83,353 505,120 268,984 33,150 1,155,500 88,000 99,980 137,431 3,082,723

Value Traded 11,278,481.92 791,027.49 3,720,357.74 4,811,263.27 64,085,279.24 47,165.40 604,565.26 159,280.00 521,895.60 14,860,536.83 100,879,852.75

Symbol CUTIX

No. of Deals 5 5

Current Price 2.00

Quantity Traded 526,070 526,070

Value Traded 1,053,568.50 1,053,568.50

Symbol

No. of Deals

Current Price

Quantity Traded

Value Traded

Daily Summary (Equities)

Page

Symbol BETAGLAS

No. of Deals 3 3

Current Price 19.38

198 Symbol ALUMACO

No. of Deals 2 2

Current Price 7.75

Quantity Traded 22,575 22,575

Value Traded 419,282.50 419,282.50

3,631,368

102,352,703.75

Quantity Traded 172 172

Value Traded 1,267.64 1,267.64

172

1,267.64

No. of Deals 32 32

Current Price 0.51

Quantity Traded 1,265,134 1,265,134

Value Traded 647,804.34 647,804.34

Symbol OANDO

No. of Deals 191 191

Current Price 19.00

Quantity Traded 3,805,499 3,805,499

Value Traded 73,521,201.95 73,521,201.95

Symbol No. of Deals Daily Summary (Equities)

Current Price 4.15 88.40 120.14 54.44

Quantity Traded 625,374 27,871 48,939 2,900

Value Traded 2,500,363.36 2,459,671.10 5,882,594.56 149,988.00

ETERNA FO MOBIL MRS

23 31 22 3

No. of Deals 15 94

Current Price 173.00

Quantity Traded Page 10,784 715,868

Symbol RTBRISCOE

5,786,501

86,987,637.77

No. of Deals 11 11

Current Price 1.36

Quantity Traded 295,000 295,000

Value Traded 398,486.10 398,486.10

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Symbol REDSTAREX TRANSEXPR

No. of Deals 7 5 12

Current Price 4.58 2.81

Quantity Traded 223,960 115,150 339,110

Value Traded 1,026,976.40 323,071.50 1,350,047.90

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 10 10

Current Price 0.53

Quantity Traded 346,158 346,158

Value Traded 184,129.03 184,129.03

Printing/Publishing ACADEMY PRESS PLC. UNIVERSITY PRESS PLC. Printing/Publishing Totals

Symbol ACADEMY UPL

No. of Deals 3 11 14

Current Price 1.90 4.30

Quantity Traded 80,000 215,652 295,652

Value Traded 152,000.00 906,773.20 1,058,773.20

Symbol ABCTRANS

No. of Deals 3

Current Price 0.96

Quantity Traded 59,000

Value Traded 56,590.00

Daily Summary of 03/03/2014 Roadas Transportation Printed 03/03/2014 14:41:55.055 ASSOCIATED BUS COMPANY PLC

Symbol JAPAULOIL

Symbol TOTAL

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

317

Page

Published by The Nigerian Stock Exchange ©

Value Traded 8 of 11 1,826,014.46 12,818,631.48

Daily Summary (Equities) Activity Summary on Board EQTY SERVICES Road Transportation Road Transportation Totals

Symbol

No. of Deals 3

Current Price

Quantity Traded 59,000

Value Traded 56,590.00

Specialty SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

Symbol NSLTECH

No. of Deals 10 10

Current Price 0.50

Quantity Traded 150,000 150,000

Value Traded 75,000.00 75,000.00

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

Symbol AIRSERVICE NAHCO

No. of Deals 19 53 72

Current Price 2.98 5.70

Quantity Traded 237,407 687,545 924,952

Value Traded 731,359.44 3,914,770.97 4,646,130.41

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

132

2,409,872

7,769,156.64

4,347

239,798,961

2,441,788,242.43

Quantity Traded 65,700 65,700

Value Traded 90,045.00 90,045.00

Activity Summary on Board ASeM

Activity Summary on Board EQTY FINANCIAL SERVICES Insurance Carriers, Brokers and Services CORNERSTONE INSURANCE COMPANY PLC. GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. HALLMARK Published by TheCONSOLIDATED Nigerian Stock Exchange © INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC MANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC PRESTIGE ASSURANCE CO. PLC. STANDARD TRUST ASSURANCE PLC UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

Current Price 17.99 9.87 46.55 9.70 239.00 1.48 0.53 1.81 5.22 105.54

OIL AND GAS Totals

No. of Deals 47 10 22 22 41 3 6 4 2 33 190

NATURAL RESOURCES Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Daily Summary as of 03/03/2014 Integrated Oil and Gas Services Printed 03/03/2014 14:41:55.055 OANDO PLC Integrated Oil and Gas Services Totals

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM DNMEYER IPWA PAINTCOM PORTPAINT WAPCO

INDUSTRIAL GOODS Totals

Activity on Board EQTY Published by TheSummary Nigerian Stock Exchange ©

Daily Summary (Equities)

Symbol CORNERST GNI GUINEAINS HMARKINS INTENEGINS MANSARD NEM NIGERINS OASISINS PRESTIGE STACO UNITYKAP WAPIC

No. of Deals 1 6 2 1 15 5 29 9 7 6 2 1 14 130

Current Price 0.50 0.57 0.50 0.50 0.70 2.30 0.77 0.50 0.54 0.58 0.50 0.50 0.91

Quantity Traded 75,000 179,700 5,250 250 Page 2,575,542 50,744 5,581,000 5,135,484 2,166,138 217,010 450 300 511,896 22,085,152

Mortgage Carriers, Brokers and Services UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals

Symbol UNHOMES

No. of Deals 1 1

Current Price 0.50

Quantity Traded 250 250

Value Traded 125.00 125.00

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC.

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX

No. of Deals 86 37 393 94 4

Current Price 4.00 2.30 13.26 3.52 0.59

Quantity Traded 7,051,415 1,353,742 14,875,239 6,278,828 135,196

Value Traded 28,212,976.64 2,990,251.64 196,938,825.97 22,203,506.93 79,765.64

Published by The Nigerian Stock Exchange ©

Quantity Traded 318,250 6,720,533 36,733,203

ICT Totals

CONSTRUCTION/REAL ESTATE © Published by The Nigerian Stock Exchange Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

CONSUMER GOODS Totals

Current Price 20.50 2.84

HEALTHCARE Totals ICT Daily Summary as of 03/03/2014 Computer Based Systems Printed 03/03/2014 14:41:55.055 COURTEVILLE BUSINESS SOLUTIONS PLC

Activity Summary on Board EQTY

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

No. of Deals 29 108 751

FINANCIAL SERVICES Totals

Activity Summary on Board EQTY

CONGLOMERATES Totals

Symbol STANBIC UBCAP

Page

CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals

Value Traded 37,500.00 102,435.00 2,625.00 of 125.00 11 1,654,429.86 114,241.50 4,357,250.00 2,567,742.00 1,179,754.52 125,365.80 225.00 150.00 465,857.58 16,629,216.27

Symbol MCNICHOLS

No. of Deals 5 5

Daily Summary as ofGOODS 03/03/2014 CONSUMER Totals Printed 03/03/2014 14:41:55.055

Current Price 1.37

65,700 Page

Published by The Nigerian Stock Exchange ©

90,045.00 10

Daily Summary (Equities) Activity Summary on Board ASeM ASeM Board Totals

65,700

90,045.00

Equity Activity Totals

4,352

239,864,661

2,441,878,287.43

Daily Summary (ETP) Exchange Traded Fund

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

Symbol NEWGOLD

No. of Deals 1 1

Current Price 2,149.00

Quantity Traded 150 150

Value Traded 322,350.00 322,350.00

ETF Board Totals

150

322,350.00

ETP Activity Totals

150

322,350.00

Published by The Nigerian Stock Exchange ©

Page

BUSINESS | FINANCIAL MARKET NEWS 47

Sanctity of Truth

Tuesday, March 4, 2014

FMDQ Daily Quotations List

3-Mar-14

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

Bonds

Price

FGN Bonds Issuer

Rating/Agency

FGN

Description 10.50 18-MAR-2014 10.75 31-MAR-2014 9.20 29-JUN-2014 9.25 28-SEP-2014 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

18-Mar-11 31-Mar-07 29-Jun-07 28-Sep-07 23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

10.50 10.75 9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 15.00 12.49 8.50 10.00

320.00 35.00 45.00 100.00 535.00 292.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 150.00 200.00 591.57

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

0.04 0.08 0.32 0.57 1.14 2.46 3.15 3.40 3.50 4.24 5.32 5.64 7.90 14.74 15.22 15.72 16.39

12.43 12.52 13.06 13.34 14.24 13.88 13.95 13.82 13.82 13.82 13.89 13.81 13.86 13.62 13.61 13.59 13.63

0.90 6.27 11.47 12.38 14.08 13.81 13.83 13.70 13.70 13.72 13.81 13.72 13.80 13.57 13.56 13.53 13.57

99.90 99.82 98.73 97.81 89.55 98.30 102.80 89.47 87.93 90.19 107.70 73.88 111.90 108.63 92.86 67.24 76.40

100.40 100.32 99.23 98.31 89.70 98.45 103.10 89.77 88.23 90.49 108.00 74.18 112.20 108.93 93.16 67.54 76.70

TOTAL OUTSTANDING VALUE Rating/Agency

4,402.04 Issuer

Agency Bonds AMCON FMBN

***LCRM

Description

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

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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

978.35 24.56 6.00 112.22 116.70 66.49

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

0.66 1.22 1.59 2.77 3.13 3.34

1.00 2.63 2.27 2.00 1.49 1.00

14.48 16.63 16.23 15.84 15.32 14.82

91.18 82.20 101.52 89.16 86.29 84.82

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

0.42 0.62 1.50 0.87 1.40 1.40 3.13 1.96 3.83 2.60 4.59 2.81 2.80 3.39 3.27 5.72 3.33 4.13 6.74 4.14 4.17

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

17.98 19.40 18.41 17.05 18.44 17.46 19.42 21.51 15.61 15.66 14.82 14.84 15.05 14.82 16.28 15.75 16.56 16.56 14.80 15.26 15.77

98.35 96.93 92.58 96.56 94.99 97.98 78.62 88.48 95.42 96.63 97.31 99.44 104.18 99.20 98.19 95.33 95.59 94.90 94.50 101.79 101.43

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

0.60 0.79 0.83 0.98 1.06 1.14 2.58 2.65 3.58 2.20 2.10 2.27 2.27 4.56 2.38 2.71 6.70

1.00 5.21 8.71 4.88 1.00 2.63 1.00 1.34 4.52 1.88 3.48 5.20 5.06 3.06 2.29 6.11 2.76

14.38 18.91 22.46 18.88 15.03 16.64 14.86 15.19 18.34 15.77 17.37 19.08 18.94 16.88 16.16 19.96 16.56

98.38 96.11 95.96 92.53 97.38 97.68 96.12 97.95 86.38 105.11 97.80 98.07 101.79 91.08 99.41 94.41 94.72

11-Feb-18

3.95

1.00

14.82

86.54

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

1,304.32

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

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

14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

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

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

TOTAL OUTSTANDING VALUE

567.90

Corporate Bonds A+/Agusto; AA/GCR Aa/Agusto Nil Bbb+/Agusto A-/Agusto BBB-/GCR A+/Agusto; A-/GCR A-/Agusto A+/GCR BBB-/GCR BBB+/DataPro; BB+/GCR A-/DataPro; A-/GCR AAA/DataPro; A-/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro; BBB-/GCR A+/Agusto; A-/GCR

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00

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

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

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

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

TOTAL OUTSTANDING VALUE

11.80 13.17 2.00 15.00 37.50 1.50 15.00 5.53 20.00 0.94 8.01 3.63 1.00 35.00 3.00 0.54 2.05

175.67

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

TOTAL OUTSTANDING VALUE Rating/Agency

12.00

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.75

5.58

105.64

106.63

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.89

4.66

100.91

101.81

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

6.24

6.10

100.92

101.96

TOTAL OUTSTANDING VALUE

1,500.00

Corporate Eurobonds Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.93

3.53

113.74

114.53

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.32

4.64

104.48

105.92

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.37

6.12

98.52

99.51

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.35

6.91

99.70

101.01

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.35

7.94

94.88

96.25

B/Fitch

Afren PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.33

4.98

114.19

114.94

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

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

FGN

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

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

100.00 535.00 292.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 150.00 200.00 591.57

48 BUSINESS | FINANCIAL MARKET NEWS

TOTAL OUTSTANDING VALUE

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

0.57 1.14 2.46 3.15 3.40 3.50 4.24 5.32 5.64 7.90 14.74 15.22 15.72 16.39

13.34 14.24 13.88 13.95 13.82 13.82 13.82 13.89 13.81 13.86 13.62 13.61 13.59 13.63

4,402.04

Transcorp mulls N1.9bn surprise dividend Rating/Agency

Agency Bonds

AMCON FMBN

SHOCK

***LCRM

Shareholders of Transcorp can now heave a sigh of Bbb-/Agusto KWARA relief as they are NIGER set to A-/GCR A+/Agusto KADUNA receive their first*EBONYI dividend A/Agusto TOTAL OUTSTANDING VALUE Sub-National Bonds

Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR Bb+/Agusto; A-/GCR A/Agusto; A-/GCR A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A/Agusto A-/GCR

Description

Issuer

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

or the first time in the history of Transnational Corporation of Nigeria Plc (Transcorp), the firm yesterday, announced that it will pay a dividend of N1.93billion to shareholders on the basis of 5 kobo per share. A statement made available to TOTAL OUTSTANDING VALUE New Telegraph in Lagos, said the Corporate Bonds announcement was contained A+/Agusto; AA/GCR LAFARGE WAPCO in the Group's audited Aa/Agusto GTB and conNil NGC solidated financial statements Bbb+/Agusto *UPDC A-/Agusto *FLOURMILLS31, for the year ended December BBB-/GCR *CHELLARAMS 2013. A+/Agusto; A-/GCR NAHCO A-/Agusto FSDH The Group, according to the A+/GCR UBA statement, also announced an BBB-/GCR *C & I LEASING BBB+/DataPro; BB+/GCR *DANA increase in turnover, of N18.8 A-/DataPro; A-/GCR *TOWER AAA/DataPro; A-/GCR billion, representing a 42per cent *TOWER A/Agusto; A/GCR UBA rise over the N13.2 billion recordBbb+/Agusto; BBB+/GCR *LA CASERA BBB-/DataPro; BBB-/GCR *CHELLARAMS ed in the corresponding period in A+/Agusto; A-/GCR NAHCO 2012. InOUTSTANDING the same breath, TOTAL VALUE profits before tax rose by 129 per cent, Supranational Bond from N3.9 billion to N9.0 billion. AAA/S&P IFC TOTAL OUTSTANDING Commenting onVALUE the results, President and Group Chief Rating/Agency Issuer Executive Officer, Mr. Obinna FGN Eurobonds Ufudo said: ‘Our full year auditBB-/Fitch; B+/S&P ed accounts reflect our commitµ

# #

BB-/Fitch; BB-/S&P

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

ment to our long term strategic plan, translating into strong and sustainable growth. We are excited about the achieve14.00 KWARA 5-AUG-2014 ments we recorded across our 14.00 NIGER 15-OCT-2014 12.50 KADUNA within 31-AUG-2015 businesses the past year. 13.00 EBONYI 30-SEP-2015 Our entry into the power sec14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 tor has been a significant driver 10.00 LAGOS 19-APR-2017 13.75 we BAYELSA and are30-JUN-2017 already running 14.00 EDO 31-DEC-2017 ahead of 30-SEP-2018 our 2014 estimates. 14.00 DELTA 14.00expect NIGER II 4-OCT-2018 We significantly bet14.50 EKITI 09-DEC-2018 ter results this year, as our 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 diversification and growth 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 strategies continue to gain 14.75 OSUN 12-DEC-2019 momentum.” 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 Transcorp’s Chairman 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

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

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

978.35 24.56 6.00 112.22 116.70 66.49

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

0.66 1.22 1.59 2.77 3.13 3.34

Tony Elumelu also said: “We are particularly pleased to be able to recommend a dividend to shareholders for the first 05-Aug-09 14.00 time15-Oct-09 in the company’s 14.00 history. 12.50 This31-Aug-10 is the beginning of a very 30-Sep-10 13.00 bright future for all our 30-Jun-11 14.00 patient 30-Jun-09 15.50 and loyal shareholders. 19-Apr-10 10.00 30-Jun-10 13.75 With the tremendous prog30-Dec-10 14.00 ress 30-Sep-11 we have already recorded 14.00 04-Oct-11 14.00 in our power business – tak09-Dec-11 14.50 12-Dec-13 14.00 power ing the Ughelli plant’s 14-Feb-12 15.50 output from 160mw15.50 when we 02-Oct-12 14.50 1, 2013 took22-Nov-12 over on November 12-Dec-12 14.75 to 360mw within three 30-Sep-13 14.75 months 27-Nov-13 13.50 – 2014 promises to be a very re31-Dec-13 14.50 06-Jan-14

15.00

warding year for the company and our 300,000 shareholders’. 1,304.32 The company also announced that its Annual Gen17.00 05-Aug-14 0.42 eral Meeting will be held 6.00 15-Oct-14 0.62on 8.50 31-Aug-15 1.50 March 31, 2014 at the Lagos 16.50 30-Sep-15 0.87 Oriental Hotel, Victoria Island, 13.00 30-Jun-16 1.40 18.50 30-Jun-16 1.40 Lagos. 57.00 19-Apr-17 3.13 50.00Transcorp 30-Jun-17 1.96 is a publicly quot25.00 31-Dec-17 3.83 ed conglomerate with a diversi50.00 30-Sep-18 2.60 9.00 04-Oct-18 fied shareholder base of 4.59 over 20.00 09-Dec-18 2.81 12.00 12-Dec-18 2.80 300,000 investors, the most 27.00 14-Feb-19 3.39 prominent of which is Heirs 20.00 02-Oct-19 3.27 80.00 22-Nov-19 5.72 Holdings Limited, a pan-Af30.00 12-Dec-19 3.33 rican proprietary investment 11.40 30-Sep-20 4.13 87.00 27-Nov-20 6.74 company . 31-Dec-20 5.00 4.14 5.00

06-Jan-21

4.17

Oando Energy Resources extends ConocoPhillips’ purchase 567.90

98.31 89.70 98.45 103.10 89.77 88.23 90.49 108.00 74.18 112.20 108.93 93.16 67.54 76.70

Sanctity of Truth

Tuesday, March 4, 2014

Broker explains market rebound # Risk Premium (%)

Valuation Yield (%)

Indicative Price

1.00 2.63 2.27 2.00 1.49 1.00

14.48 16.63 16.23 15.84 15.32 14.82

91.18 82.20 101.52 89.16 86.29 84.82

lhaji Rasheed Yussuf, a former President, Asso4.88 17.98 98.35 of Stockbroking 5.99 ciation19.40 96.93 4.44 92.58 Houses18.41 of Nigeria, yes3.23 17.05 96.56 terday attributed the current 4.46 18.44 94.99 3.48 17.46 97.98 stock market19.42 rebound to78.62 stable 5.59 7.60 21.51 policies. 88.48 macro-economic 1.79 15.61 95.42 Yussuf told15.66 the News Agency 1.80 96.63 14.82 97.31 of 1.00 Nigeria (NAN) in Lagos, that 1.00 14.84 99.44 104.18 the1.21reversal15.05 in market trend 1.00 14.82 99.20 was that 2.46due to assurances 16.28 98.19 the 1.94 15.75 95.33 of suspension of the governor 2.74 16.56 95.59 the2.74 Central Bank, Sanusi Lami16.56 94.90 1.00 14.80 94.50 do1.44 Sanusi, would not lead to 15.26 101.79 1.95 15.77 101.43 changes in monetary policies. President Goodluck Jonathan, on Februaury 20, sus1.00 14.38 98.38 5.21 18.91as Governor 96.11 of pended Sanusi 8.71 22.46 95.96 the4.88CBN and appointed Mrs 18.88 92.53 1.00 Alade 15.03 97.38govSarah as the acting 2.63 16.64 97.68 ernor. 1.00 14.86 96.12 1.34 15.19 forwarded 97.95 the Jonathan also 4.52 18.34 86.38 name of Mr Godwin Emefiele 1.88 15.77 105.11 3.48 and Adelabu17.37 Adekoya97.80 to the 5.20 19.08 98.07 5.06 18.94 governor 101.79and Senate as CBN 3.06 16.88 91.08 deputy governor designate. 2.29 16.16 99.41 6.11 19.96 government’s 94.41 He said that 2.76 16.56 94.72 pronouncement reinvigorated investors’ confidence in the market after14.82 weeks of 86.54 uncer1.00 tainty occasioned by the suspension of Sanusi. Offer Yield (%) Bid Price Offer Price “The CBN assurance to dePrices & Yields fend the naira also helped to sta5.58 105.64 106.63 bilise the market,” Yussuf said.

11.50

11.80

07-Oct-14

0.60

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.89

4.66

100.91

101.81

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

6.24

6.10

100.92

101.96

ando Energy Resources Incorporated (OER) yesterday said it had extended the completion of its acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips. The company in a statement to the Nigerian stock exchange 10.20 IFC said 11-FEB-2018 (NSE), in pursuant to an amendment agreement executed with ConocoPhillips on FebDescription ruary 28 2014, Oando Energy Resources and ConocoPhillips 6.75 JAN 28, 2021 agreed, amongst other things,

FGN

97.81 89.55 98.30 102.80 89.47 87.93 90.19 107.70 73.88 111.90 108.63 92.86 67.24 76.40

07-Oct-11

Chris Ugwu

BB-/Fitch; BB-/S&P

12.38 14.08 13.81 13.83 13.70 13.70 13.72 13.81 13.72 13.80 13.57 13.56 13.53 13.57

18-Dec-09the outside 13.50date for 13.17 18-Dec-14 0.79 to extend lion. 01-Apr-10 17.00 2.00 31-Dec-14 0.83 completion of the ConocoPhilThese assets associated 17-Aug-10 10.00 15.00 17-Aug-15 0.98 09-Dec-10 12.00 09-Dec-15 lips Acquisition from February 37.50 with the COP acquisition,1.06are 06-Jan-11 14.00 1.50 06-Jan-16 1.14 estimated to29-Sep-16 be approximately 28, 2014 to March 31,13.00 2014, to en- 15.00 29-Sep-11 2.58 5.53 25-Oct-16 2.65 billion. able 25-Oct-13 the companies14.25 to satisfy US$1.22 30-Sep-10 13.00 20.00 30-Sep-17 3.58 all closing conditions includTo conclude the deal, OER 30-Nov-12 18.00 0.94 30-Nov-17 2.20 09-Apr-11 8.01 09-Apr-18 2.10 ing the anticipated 16.00 consent of had also received commit09-Sep-11 18.00 3.63 09-Sep-18 2.27 09-Sep-11 16.00 1.00 the Honourable Minister of Pe- ment letters09-Sep-18 for up to $8152.27 mil22-Sep-11 14.00 35.00 22-Sep-18 4.56 troleum Resources in Nigeria. lion of bank credit facilities, 18-Oct-13 15.75 3.00 18-Oct-18 2.38 17-Feb-12 0.54 17-Feb-19 drawn from 2.71 OER, an affiliate17.00 company with $465 million 14-Nov-13 15.25 2.05 14-Nov-20 6.70 of integrated energy group 175.67 Reserve Based Lending Facilin Nigeria – Oando Plc, had ity, internationally placed and led by BNP 11-Feb-18 Paribas, Standard expressed 11-Feb-13 confidence 10.20 in con12.00 3.95 cluding the acquisition of the 12.00 Bank, and Standard Chartered Nigerian oil and Coupon gas business Bank; and aMaturity $350 Date millionBidSenior Issue Date (%) Issue Value ($'mm) Yield (%) of ConocoPhillips (COP). Secured Loan, jointly arranged The company had paid COP locally in Nigeria, by FBN Capi07-Oct-11 6.75 500.00 28-Jan-21 5.75 an initial deposit of $435 mil- tal and FCMB Capital Markets.

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

1,500.00

3-Mar-14

The FMDQEurobonds 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 Corporate 11.50 FEB 01, 2016 01-Feb-11 11.50 450.00 01-Feb-16 to the FMDQ Terms B-/S&P; B/Fitch OTC PLCAfren PLCof I Use and Disclaimer Statement. 3.93 3.53 113.74 114.53 B+/S&P; B+/Fitch

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13 25-Jul-12

B+/S&P FGN Bonds

Access Bank PLC

7.25 JUL 25, 2017

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

B/Fitch

Afren PLC II

B+/S&P; B+/Fitch

Afren PLC III

Rating/Agency B/S&P; B-/Fitch

Issuer First Bank PLC

TOTAL OUTSTANDING VALUE **Treasury Bills

TOTAL

DTM 10 17 24 31 38 45 NA 52 66 73 80 87 94 108 115 122 157 185 276 311 OUTSTANDING 325 339 353

Maturities 13-Mar-14 20-Mar-14 27-Mar-14 3-Apr-14 10-Apr-14 17-Apr-14 FGN 24-Apr-14 8-May-14 15-May-14 22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 7-Aug-14 4-Sep-14 4-Dec-14 8-Jan-15 VALUE 22-Jan-15 5-Feb-15 19-Feb-15

Rating/Agency

Issuer

Description

10.25 APR 08, 2019

Issue 8.25 AUG 07, 2020 6.63 DEC 09, 2020

10.50 18-MAR-2014 10.75 31-MAR-2014 9.20 29-JUN-2014 Bid 9.25 28-SEP-2014 11.50 4.00 23-APR-2015 12.10 12.30 13.05 16-AUG-2016 12.10 15.10 27-APR-2017 12.85 9.85 27-JUL-2017 12.10 12.80 9.35 31-AUG-2017 13.00 10.70 30-MAY-2018 13.00 16.00 29-JUN-2019 12.85 12.90 7.00 23-OCT-2019 12.40 16.39 27-JAN-2022 12.85 15.00 28-NOV-2028 12.90 13.10 12.49 22-MAY-2029 12.80 8.50 20-NOV-2029 12.40 12.00 10.00 23-JUL-2030

18-Mar-11 31-Mar-07 29-Jun-07 Offer 28-Sep-07 11.25 23-Apr-10 11.85 12.05 16-Aug-13 11.85 27-Apr-12 12.60 27-Jul-07 11.85 12.55 31-Aug-07 12.75 30-May-08 12.75 29-Jun-12 12.60 12.65 23-Oct-09 12.15 27-Jan-12 12.60 28-Nov-08 12.65 12.85 22-May-09 12.55 20-Nov-09 12.15 11.75 23-Jul-10

12.70 12.70 12.65 12.70

12.45 12.45 12.40 12.45

Description

*from the Bonds Amortising bonds, the average life is calculated and not the duration Agency #

Risk Premium is a combination of credit risk and liquidity risk premiums 0.00 AMCON 31-OCT-2014 AMCON **Exclusive of non-trading t.bills 0.00 FMB 24-MAY-2015 ^Bid yield FMBN

***LCRM

Date

Bonds

19-May-16

5.32

4.64

104.48

400.00

08-Nov-18

6.37

6.12

98.52

7.25

350.00

25-Jul-17

7.35

6.91

99.70

6.88

300.00

08-Apr-12

10.25 Outstanding Value 8.25 (N'bn)

Maturity Date 300.00

TTM (Yrs) 07-Aug-20

Bid Yield 7.42 (%)

360.00

09-Dec-20

6.66

09-Dec-13

10.50 10.75 9.20 ^Yield 9.25(%) 11.54 4.00 12.17 12.40 13.05 12.23 15.10 13.02 9.85 12.28 13.04 9.35 13.31 10.70 13.35 16.00 13.22 13.31 7.00 12.81 16.39 13.36 15.00 13.45 13.70 12.49 13.55 8.50 13.23 13.20 10.00 14.24 14.32 14.33 14.48

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

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

500.00

6.00

09-May-13

Coupon (%) 07-Aug-13

Issue Date

(SR.5 TR.1)

7.50

6.63

320.00 18-Mar-14 2,960.00 35.00 31-Mar-14 45.00 FIXINGS 29-Jun-14 NIBOR 100.00 28-Sep-14 Tenor Rate (%) 535.00 23-Apr-15 CALL 11.2917 7292.47 DAYS 11.6667 16-Aug-16 30 DAYS 11.9583 452.80 27-Apr-17 60 DAYS 12.2917 27-Jul-17 9020.00 DAYS 12.5833 180 DAYS 12.8750 100.00 31-Aug-17 365 DAYS 13.2083 300.00 30-May-18 351.30 29-Jun-19 NITTY 233.90 23-Oct-19 Tenor Rate (%) 600.00 27-Jan-22 1M 12.3429 75.00 28-Nov-28 2M 12.9778 3M 13.1304 150.00 22-May-29 6M 13.4022 200.00 20-Nov-29 9M 13.7635 12M 14.6361 591.57 23-Jul-30

4,402.04 NIFEX Current Price ($/N) BID($/N) Coupon (%) Issue164.6775 Value (N'bn) OFFER ($/N) 164.7775

0.00 978.35 0.00 24.56 17.25 6.00 0.00/16.00 112.22 0.00/16.50 116.70 FMDQ0.00/16.50 FGN BOND INDEX 66.49

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

Modified Duration Buckets

KWARA <3 NIGER 3<5 KADUNA >5 *EBONYIMarket *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO

02-May-18

300.00

08-Apr-19

105.92

Price

99.51 101.01

8.35

7.94

94.88

5.33

4.98 Offer Yield 6.82 (%)

Bid Price 103.09

Offer Price 105.36

99.82

100.76

Valuation Yield (%)

Indicative Price

6.43

114.19

96.25 114.94

0.04 12.43 0.90 99.90 100.40 0.08 12.52 6.27 99.82 100.32 Money Market13.06 0.32 11.47 Exchange 98.73 99.23 Foreign (Spot & Forwards) Tenor Rate (%) 0.57 13.34 12.38 97.81 98.31 OBB 10.88 Tenor Bid ($/N) Offer ($/N) 1.14 14.24 14.08 89.55 89.70 Spot 163.81 163.91 2.46 13.88 13.81 98.30 98.45 O/N 11.13 7D 164.65 164.92 3.15 13.95 13.83 102.80 103.10 REPO 14D 164.91 165.29 3.40 13.82 13.70 89.47 89.77 Tenor Rate (%) 1M 165.52 166.26 Call 10.83 2M 166.75 168.10 3.50 13.82 13.70 87.93 88.23 1M 11.92 3M 168.74 168.90 4.24 13.82 13.72 90.19 90.49 3M 12.33 6M 171.78 175.98 5.32 13.89 13.81 107.70 108.00 6M 12.83 1Y 178.76 187.99 5.64 13.81 13.72 73.88 74.18 NOTE: 7.90 13.86 13.80 111.90 112.20 :Benchmarks 14.74 13.62 13.57 108.63 108.93 NA :Not Applicable * :Amortising # :Floating 15.22 Bond 13.61 13.56 92.86 Rate Bond 93.16 µ :Convertible Bond ***: Deferred coupon bonds 15.72 13.59 13.53 67.24 67.54 AMCON: Asset Management Corporation of Nigeria FGN: Federal Nigeria 16.39 Government of 13.63 13.57 76.40 76.70 FMBN: Federal Mortgage Bank of Nigeria IFC: International Finance Corporation LCRM: Local Contractors Receivables Management NAHCO: Nigerian Aviation Handling Company # NGC: Nigeria-German Company Risk Avg. Life/TTM UBA: United Date Bank for Africa Maturity Premium (Yrs) Company UPDC: UAC Property Development (%) WAPCO:West Africa Portland Cement Company

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

0.66 1.22 1.59 2.77 3.13 3.34

1.00 2.63 2.27 2.00 1.49 1.00

14.48 16.63 16.23 15.84 15.32 14.82

91.18 82.20 101.52 89.16 86.29 84.82

% Exposure_ Mod_Duration

Implied Yield

Implied Portfolio Price

INDEX

YTD Return (%)

1,304.32 Porfolio Market Value(Bn)

14.00 KWARA 5-AUG-2014 1,232.07 14.00 NIGER 15-OCT-2014 1,049.75 12.50 KADUNA 31-AUG-2015 451.96 2,733.78 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

Total Outstanding Volume(Bn)

1,280.27 951.30 591.57 2,823.14

Weighting by Outstanding Vol

05-Aug-09 45.35 15-Oct-09 33.70 31-Aug-10 20.95 30-Sep-10 100.00 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

Weighting by Mkt Value

14.00 45.07 14.00 38.40 12.50 16.53 13.00100.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50

Bucket Weighting

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00

0.45 0.34 0.21 1.00

05-Aug-14 22.11 15-Oct-14 38.67 31-Aug-15 39.22 30-Sep-15 100.00 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

0.42 14.00 0.62 13.87 1.50 13.63 0.87 13.80 1.40 1.40 3.13 1.96 3.83 2.60 4.59 2.81 2.80 3.39

4.88

100.3194 5.99 117.5980

4.44 82.5208 3.23 102.4121 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00

17.98 1,014.78 19.40 995.77 18.41 998.98 17.05 996.61 18.44 17.46 19.42 21.51 15.61 15.66 14.82 14.84 15.05 14.82

98.35 1.4778 96.93 0.4225 92.58 0.1020 96.56 0.3389 94.99 97.98 78.62 88.48 95.42 96.63 97.31 99.44 104.18 99.20

BUSINESS | MONEY LINE 49

Sanctity of Truth

Tuesday, March 4, 2014

ICAN wants corrupt accountants exposed SLEAZE

ber to defend himself and the complainant would also be summoned. “The panel would refer its recommendations to a tribunal whose decision is final and the member can only seek redress at the Supreme Court if he is not satisfied with its verdict,” he said. According to Mohammed, the tribunal has been suspending and expelling erring members and such disciplinary measures have helped in deterring others from flouting the laws. The ICAN president said that the association was always using its disciplinary actions, among other measures, to contribute to the fight against corruption in the country. “Corruption has persisted in the country because people are not questioned on how they acquire their wealth and those who acquire it illegally are left unpunished. “The main antidote to this scourge is for people to have the fear that their creator oversees their affairs and that they would be accountable to Him for all their activities,” he said. Mohammed said that the

The Institute of Chartered Accountants of Nigeria (ICAN) has punished and would continue to expose corrupt officials

he Institute of Chartered Accountants of Nigeria (ICAN) yesterday said that its members who were corrupt should be reported to the institute for disciplinary action. Alhaji Kabir Mohammed, the president of the institute, made the appeal in Abakaliki, while on a three-day official visit to Ebonyi. Mohammed, according to the News Agency of Nigeria (NAN), said that the association was intolerant of corrupt and unethical practises by members and had always punished them when exposed. “The public should assist us in this regard by reporting any member who indulges in corrupt and unethical acts to the association’s Registrar for prompt action. “The Registrar is empowered by our laws to, within seven days; institute a panel that would summon the mem-

best way to assess the nation’s economic growth was to find out how the people were faring. “One can only assess the nation’s economic growth by

roup Managing Director of Union Bank of Nigeria PLC, Emeka Emuwa has urged Nigeria and other African Nations to make agriculture more productive in their fight to end the scourge of poverty in the continent. He gave this advice at the International Conference organized by the African Rural and Agricultural Credit Association (AFRACA) sponsored by Union Bank. Emuwa, who spoke on “Propelling Economic Development Through Functional Agricultural Value Chain financing models: lessons learnt and emerging opportunities,” advised the African Nations to redouble their efforts to make agriculture more productive. He said that the best way to improve the financial flow to the agricultural sector and rural Communities is through a deep and enhanced under-

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

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

standing of the components of the Value Chain. “If you can get agriculture to become more productive, you will be better positioned to tackle the scourge of poverty in the continent. It is unfortunate that there has been a decline in the sector due to the emergence of other economic sectors in Africa” Citing the example of Nigeria, Emuwa told the conference that the emergence of oil and gas sector had stunted growth of the agricultural sector. He said that Union Bank has been supporting agriculture over the years ;stressing that in the current financial year, lender will be engaging directly with farmers in order to have a deep understand the entire segments of the business, so as to inject more funds than have been invested in the past. “We will continue to invest

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

in agriculture. In the past years, agriculture has played a significant part in our business but we want to look at the entire value chain more intently. We want to engage with the rural farmers directly and not just from policy level”, he emphasised. Also speaking at the conference, the Lagos State Commissioner for Agriculture, Prince Gbolahan Lawal, who represented the Deputy Governor of the State Mrs. Adejoke Orelope – Adefulire, quoted one professor as saying that it is only in agriculture that the battle for economic development will be lost and won. He admitted that given the present lending, Nigeria is not yet there. He said that the theme of the conference was apt, adding that though the Lagos State is not rearing cattle heads, the state is interested in what happens to processing of beef.

Micro finance bank disburses N1.05bn

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

man in Ebonyi, Mr Sunbday Ituma, said that there were 36 registered members of the association in the state, made up of eight fellows and 28 associates.

Union Bank boss makes case for agric

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

determining if people have access to good roads, water supply, electricity, adequate healthcare, among other needs,” he said. The ICAN District Chair-

Bid 163.4000

Offer 163.5000 Source: FMDQ

muchinemere Pro-credit Micro Finance Bank (UPMFB) yesterday, said it had given out a total of N1, 045,936,400 loans to 5,288 “active poor beneficiaries” in the year ended December 31, 2013. Of the N1.05billion disbursements, a total of N886,234,500, according to the statement, was disbursed as loans to a total of 4,174 poor beneficiaries in 2013. “Out of the 4,174 loans beneficiaries, 2,193 were females and received a total fraction of N448,121, 200, representing 50.56 per cent of the loans; while the remaining figure of 1,981 were males, and received a total amount of N438,113,300, representing 49.44 per cent of the total loans disbursement in the year ended. Head of the bank’s Credit department, Mr. Odinaka Okeke, said the bank surpassed its target of N595,889,600 in 2013, with the total disbursement of N1,045,936,400.

Expressing satisfaction with the performance, Okeke was optimistic that the bank’s performance in the current year would be better than that of last year. The institution is targeting to make a total micro credit facilities disbursement of N1.3billion, made up of N550million of micro loans, N500m other loans and N240million advances. Advising the micro credit facilities beneficiaries “to use the facilities well and to repay promptly, so as to continue to receive more from the bank”, the Credit Manager said the facilities were aimed at creating maximum wealth for the beneficiaries. Consequently, he advised them to manage it with prudence and honesty. UPMFB’s Head of Finance and Accounts, Mrs. Bibbian Ofoje, said the bank recorded an unaudited total income of N372,075,657, with a total unaudited profit of N121,242, in 2013, which she attributed to increase in the bank’s financial activities in the year ended.

50 NEWS | WORLD

Sanctity of Truth

Tuesday, March 4, 2014

Witness tells of ‘bloodcurdling screams’ as Pistorius’ trial begins

he first witness at Oscar Pistorius' murder trial told the court yesterday she heard ``bloodcurdling screams’’ from a woman, which were followed by four shots. It was a dramatic opening to a case which could see one of global sports’ most admired role models jailed for life. The witness, Michelle Burger, was taking the stand after the Olympic and Paralympic star pleaded not guilty to murdering

his girlfriend and model, Reeva Steenkamp, on Valentine's Day last year. Burger, who lives in an estate nearby, testified she was woken up in the middle of the night by a woman shouting for help. ``I was still sitting in the bed and I heard her screams," she told the Pretoria High Court, while speaking in Afrikaans through an interpreter. ``She screamed terribly and she yelled for help. Then I also heard a man screaming for help.

Three times he yelled for help," Burger said. She said she and her husband first thought it was a violent break-in --- a possibility in crimeridden South Africa. Burger said her husband later called the private security firm guarding their upmarket housing estate in Pretoria's eastern suburbs, before the pair heard more shouts. ``I heard the screams again. It was worse. It was more intense," Burger told the court, her voice

cracking with emotion. ``She was very scared. ``Just after her screams, I heard four shots. Four gunshots," she said. ``Bang ... bang, bang, bang. ``It was very traumatic for me. You could hear that it was bloodcurdling screams." Throughout her testimony, the 27-year-old Pistorius sat impassively, staring at the floor. The athlete, who was born without legs but reached the 2012 Olympic 400 metres semi-

final running on carbon-fiber "blades", argues that Steenkamp's killing was a tragic accident. The testimony from Burger, who lived 177 metres from Pistorius' home in a neighbouring housing estate, was not televised live at her request, although the audio was still broadcast. Earlier, a sombre Pistorius dressed in dark suit, white shirt and black tie stood before judge Thokozile Masipa to plead not guilty to murdering Steenkamp.

Ukraine's leaders call on Western powers to rally against Russian invasion

kraine’s new leaders yesterday called on Western nations to rally against Russia’s invasion of the country’s Crimean Peninsula, making a plea for economic and political support as Moscow continued to be defiant. Ukrainian Prime Minister Arseniy Yatsenyuk insisted that Crimea remains Ukrainian territory despite the presence of thousands of Russian troops who have secured control over the disputed peninsula without suffering any casualties or firing a shot. "Any attempt of Russia to grab Crimea will have no success at all. Give us some time," he said at a news conference with British Foreign Secretary William Hague, who is visiting Kiev. "For today, no military options [are] on the table," he said,

adding that what they urgently need is an economic and political support. "Real support. Tangible support. And we do believe that our Western partners will provide this support," he said. Hague said on the BBC that Moscow would face "significant costs" for taking control of Crimea. But Russian Foreign Minister Sergey Lavrov yesterday justified the use of Russian troops streaming into the neighboring Crimea region as a necessary protection for his country's citizens living there. The use of Russian troops is necessary "until the normalization of the political situation" in Ukraine, Lavrov said at an opening of a month-long session of the U.N. Human Rights Council in Geneva.

‘Massive' help needed to stabilise Central Africa – Interim leader

here is no chance of bringing rapid stability to the Central African Republic without "massive" international support, the strife-torn country's interim president warned yesterday. "I inherited a country on the verge of collapse, with rampant insecurity, a lack of state authority across its national territory and facing an unprecedented humanitarian disaster," Catherine SambaPanza told a women's forum in Kinshasa. "Faced with this challenge, I am determined we will carry through the transition process

we have set ourselves," she said in the opening address to the French-speaking event. "But without massive support and assistance from the international community... we will not meet our goal of stabilising the country and restoring constitutional order within the required timeframe," she warned. Samba-Panza took office in January following the ouster of the country's first Muslim president Michel Djotodia, installed in a coup that touched off a year of inter-religious violence in the majority-Christian nation.

South African track star Oscar Pistorius appeared in the Pretoria Magistrate's court in Pretoria, South Africa, on Feb. 22. His murder trial began yesterday.

Guinea-Bissau's caretaker leader ‘will not stand' in polls

uinea-Bissau's acting president announced yesterday he would not be standing in next month's general election, ending persistent rumours that he was planning to put himself forward as permanent head of state. Manuel Serifo Nhamadjo, who has led a transitional regime since a coup destabilised the West African nation two years ago, came to power under the understanding that he would not seek to be elected when the country returned to democracy. "I will not be a presidential candidate and I ask all my supporters to understand," he told a press conference in the capital Bissau. "It is a matter of principle because I signed a transition pact...

I have to respect. I will stay at the presidential palace until the inauguration of the new head of state and I will pass him the baton." The April 13 presidential and legislative elections were originally due to take place within a year of prime minister Carlos Gomes Junior's regime being overthrown but it has been postponed several times. Guinea-Bissau, which gained independence from Portugal in 1974 after a war with its colonial master lasting more than a decade, has suffered intermittent unrest since its liberation. The chronic volatility has fanned poverty in the country of 1.6 million people with few resources other than cashew nuts and fish, attracting South American drug cartels which

have turned it into a hub of cocaine-trafficking for west Africa. It has seen a series of military coups attributed largely to the unprecedented bloating of the army after the war. Nhamadjo said that everything would be in place to allow the elections to take place "in acceptable conditions". "I will be the guarantor of peace and stability," he said. Candidates have Wednesday to submit their applications to the Supreme Court, which will then rule on their validity and many have already thrown their hats into the ring, including former finance minister Jose Mario Vaz.

Mexico unveils killer squad for Eagles Emmanuel Tobi

exican national team coach, Miguel Herrera, on Monday unveiled a very strong squad to battle the

Super Eagles of Nigeria in an international friendly billed for Thursday at the 72,000 capacity Georgia Dome in Atlanta, USA. New Telegraph scooped that Coach Herrera named

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

his squad with the intention of using the Mexican players abroad in Europe to build his final team for the 2014 World Cup in Brazil. A total of nine players with

national team participate in European leagues, but from those, only eight are considered to form part of the World Cup as striker Carlos Vela last month CONTINUED ON PAGE 55

Did you know?

NEW TELEGRAPH

newtelegraphonline.com/sports

That the first live coverage of a football match shown on television, was in the year 1937. It was a practice match of Arsenal and was played at Highbury Stadium

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

TUESday, MARCH 4, 2014

EAGLES To train T WITHOUT KITS World Cup:

lPlayers almost missed flight to US

Ajibade Olusesan he Super Eagles might be training without their regular kits in the USA as the team’s curator, Chidi Ngoka, did not travel with the team on Sunday night ahead of the international friendly encounter against Mexico on Thursday morning. Eagles coach, Stephen Keshi, said the team would train on Monday night but this development could affect the mode of dressing as the players might appear in ‘coat of many colours’ in the first training session. The curator was billed to fly with other memCONTINUED ON PAGE 51

Super Eagles in training session ahead one of their previous matches

Onazi unsure of 2014 World Cup

Pistorius pleads not guilty to three firearms charges

brazil 2014: Nigeria, Ghana snub CAF

}p-53

}p-55

52 SPORT

Sanctity of Truth

Tuesday, March 4, 2014

Countdown to Fifa World Cup Fernandinho’s profile is rich yet the 28 year-old midfielder is being treated as a fresh face in Felipe Scolari’s squad for the friendly against South Africa on March 5, the last game before the coach announces his list of names for the 2014 FIFA World Cup Brazil. fifa.com spoke to the midfielder on the mundial and other issues. How have you changed as a player since the last time you were picked for Brazil? I’ve changed a great deal, mainly because of the move from Ukraine to England. I’ve grown a lot, and I think this has played an important part in my being picked for the squad. My performances during my first seven months in England have been really good and this, together w i t h the fact that the team h a s been doing well, h a s helped to catch the coach’s eye. I’ve learnt a lot in terms of tactics and technique in a very short time here. All this has helped with my adaptation to the English game and, as a result, my return to the national squad. A lot of people are saying that it’s like Fernandinho is making his debut for Brazil, and you yourself have said it’s like being called up for the first time. Yet you were first selected back in 2011. Why do you think you’re being treated as a new arrival? Well, I think… no, I’m sure that the Brazilian media, when I played in Ukraine, didn’t follow, or didn’t have access to, games in the Ukrainian championship. So it was a surprise for everybody – journalists and Brazilian fans alike – when a player from Shakhtar was selected, especially when I went straight into the first team.

Scolari

I want to give Scolari headache –Fernandinho

Do you see your rivals for a World Cup spot as being the deeper lying defensive midfielders such as Luiz Gustavo and Lucas Leiva, or players such as Paulinho, Ramires and Hernanes? I’ve been playing in the more defensive position for City, it’s true. For this squad the coach has called up Ramires and Paulinho, who like to get forward more, and Luiz Gustavo, who prefers to stay back and protect the defence. I think that’s the position I’m going for if I want to be one of the 23 who makes the final cut. The last time you were selected for the Brazil squad was in February 2012. Does being called up again feel like a comeback, or like being chosen for the first time? I’m treating it like it’s the first time, because right now my ambitions are different, and I’m determined to give a good account of myself. I want to give the coach a real headache when he sits down to choose his World Cup squad. We probably don’t need to ask how you’ve adapted at City, given the way you’ve been playing and the plaudits that you’ve been receiving. But in practical terms, what have been the differences from your time at Shakhtar, in terms of your responsibilities on the pitch? The big difference has been the ambitions of the two clubs. City want to win every competition they enter. It’s the same with my team-mates. They’re all internationals, with a wealth of experience in English or European football. My responsibility, at the end of the day, is much the same as it was, control the midfield and organise the team. I’ve always been told that the midfield is the heart of the team, the position that dictates the rhythm of the game. And as we’re a skillful team, built around keeping possession, a midfielder who

knows what to do with the ball is very important. In Ukraine I played a little further forward, and so I contributed to the team in a different way, by attacking more. At City I’m positioned further back and so I concentrate on my defensive responsibilities. Those are probably the main differences.

But you’ve also been getting on the scoresheet, like in the game against Arsenal. Does Pellegrini give you specific instructions about when to get forward? Is he familiar with your style of play from your time at Shakhtar? Definitely. He was one of the people responsible for bringing me to City. In terms of getting forward, as we have a lot of skillful players and a style of play based around one touch passing, keeping the ball on the ground and maintaining possession, the role of the midfielders is more about organising things. But even if we can’t always get forward, there’s no doubt that a lot of the team’s attacks start with us. How do you get along with Yaya Toure? What’s it like to play alongside such a player? He’s a fantastic player, a proven winner with bags of experience. He had a very successful spell at Barcelona, where he won the Champions League and a number of other titles. Obviously it took some time for us to get used to playing together, and we didn’t really click in the first few games. But afterwards we started to understand each other’s game and to form a more cohesive partnership. I hope that we can maintain this and that the team keeps on being successful. The most important thing is to win some trophies together.

Fernandinho

Do the players see City as a major European force, or is that still some way off? The team aims to become one of the major powers in Europe. At the moment, it’s probably too early to say if we’ve made it to that level. Look at the history of Real Madrid and Barcelona, for example. They’ve been winning major honours for decades, and have earned a reputation for being successful. City’s new era began just five years ago, when the money was invested in the club and they started to sign big name players. At the same time, I believe that we’re on the right track, even if it takes a little time to get to where we want to be. We’ve got some great players, of course, but it’s more important to form a real unit and to change the mentality of the club, so that everyone can be part of this growth. You don’t become champions, the kind of team that wins trophies every season, overnight. City suffered a little at the beginning, but we’re making progress now.

Sport

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SPORT 53

Sanctity of Truth

Tuesday, March 4, 2014

SuperSport investing in Nigeria’s NNPC wins Oil, sports development –Venter Gas Industry Games

Emmanuel Tobi

opshots in Dstv’s SuperSport have said the company’s belief in Nigeria sports development has spurred their determination in investing in both human and capital development in the country. Making this assertion in Lagos recently, SuperSport’s Head of Africa, Andre Venter, maintained that the company and its other sister companies, Dstv and Multichoice Nigeria, have continued to make huge investments in developing sports in Nigeria with laudable projects like the sponsorship of the DSTV Basketball League, coverage of the Nigeria Premier League, SuperSport’s Lets Play initiative as well as producing Nigerian contents that are developed by Nigerian technocrats, who were trained by the organisation. Venter said; “We believe in Nigeria and that is why we are investing heavily in both human and capital development in the country. It’s unfortunate we lost our multimillion naira studios in Ojota last year, but we are determined to provide better quality services and that is why we’re bouncing back stronger. “We will be commissioning our new Higher Definition studios in Ilupeju, Lagos in April. We have two HD studios, two drama studios and we have acquired a prop-

L-R: Felix Awogu, General Manager, Strategy, West Africa, SuperSport; Chioma Afe, Marketing Manager, DStv, MultiChoice Nigeria and Andre Venter, Head of Africa, SuperSport, at the SuperSport Editors Networking Session in Lagos recently.

erty in Ikeja GRA, where are building six studios which will be manned by Nigerians trained both locally and internationally to handle those sophisticated equipments.” Similarly, General Manager, Strategy of SuperSport West Africa, Felix Awogu, added; “Our investment in the Nigeria Premier League has paid off with the Super Eagles parading league players winning the bronze medal at CHAN 2014. We produced contents for 29 channels as well as producing 1,400 matches every year with over 200

Onazi unsure of 2014 World Cup

varieties of sports and will be broadcasting 60 matches of the Nigeria Basketball League.” Marketing Manager, DStv Multichoice Nigeria, Chioma Afe concluded by promising that the company will be broadcasting the 2014 Brazil World Cup, the Commonwealth Games in Glasgow, Scotland, the 2014 Basketball World Cup in Spain, among other competitions in unique style to the delight of their viewing fans across the continent.

Ajibade Olusesan

uper Eagles midfielder, Ogenyi Onazi, said his place in the final squad for the World Cup was not sacrosanct despite being an established player in the team. He admitted that places in the squad will never come on a platter for the players knowing well that some who were not in the mainstream of the team would come around to fight for places. The Lazio midfielder might have to battle for places with fellow former Golden Eaglets star, Ramon Azeez, and Haruna Lukman who have been recalled into the team but he said the situation only call for more hard work. ‘How can I think that I am already in the squad to the World Cup when we have so many players who will also want Ogenyi Onazi (left) being challenged by an to fight for places? World opponet during a match for Nigeria Cup is big and it is every player’s dream to play in The player also said that Eagles would not be friendly the tournament. So, all of us know that we have to keep when they confront Mexico in an international friendly working hard, you cannot just relax and think you are game on March 5 in United States. important in the team and the coach will just take you The Lazio player said the African champions need to the World Cup. the game as a morale booster ahead of the World Cup. ‘I will work hard and earn my place just like I did “By the grace of God we should win the game. when we were going to the Nations Cup. I trust in God Mexico are a big side and winning such a big game will that if I continue to work hard he will crown my effort,” help our morale and I believe by the grace of God we will win,” he said. he said.

he Nigeria National Petroleum Corporation has emerged champion of the 15th Nigeria Oil and Gas Industry Games concluded at the weekend at the Teslim Balogun Stadium Surulere, Lagos. NNPC garnered a total of 14 gold, 11 silver and 13 bronze medals to lead eleven other companies that took part in the games. The second position went to SPDC with 11 gold, seven silver and 10 bronze medals. Chevron came third with eight gold, Five silver and 6 bronze medals. ExxonMobil with three gold, 10 silver and 11 bronze placed fourth while Total, NAOC, NLNG and PTI placed 5th, 6th and 7th respectively. Debutantes, NCDMB were good enough for the 9th position while OANDO, DPR and Addax Oil took the rear. The closing ceremony witnessed the finals of the men and women 4 x 100 metres relay and the final of the football event. NNPC won the gold medal after defeating Chevron 2 - 0. The victorious NNPC team dominated the male and female tennis events in which they garnered eight gold, five silver and three bronze medals. Chevron dominated the swimming event with five gold two silver and two bronze medals.

33teams vieforAbesanYouthCup Ifeany iIbeh

hirty-three teams will compete for the 2014 Abesan Youth Cup taking place across five venues in Lagos, including the Agege Stadium, which will host the final match of the event. Disclosing this at the draw ceremony for this year’s tournament was Tayo Adeyemo who went on to reveal the other tournament venues. They are

Kuwait Field, in Gowon Estate; Alade Field, Ikuola; Keke High School, Ifako, and Yaba College of Technology. The draw, which was presided over by Mrs Ojaba, who represented the tournament’s Grand Patron, Mrs Clementina Doregos, the proprietor of Doregos Private Academy, saw last year’s winners, Midas FC zoned in Group B alongside Messiah FC, Austin Tigers and Prince FC.

Delta retain U-18 Athletics title Charles Ogundiya

elta State on Friday retained the annual D.K. Olukoya U-18 Athletics Championship at the Dipo Dina Stadium, Ijebu-Ode, Ogun State. Delta State finished tops with five gold, eight silver and six bronze medals, while Cross Rivers came second with three gold, five silver medals and a bronze. Akwa Ibom finished a close third with three gold, four silver and

five bronze medals. Delta State’s Chukwudi Olisakwe emerged the fastest boy in the 100m event, with the 15-year-old returning a time of 11.14secs in the final, followed by Ekiti’s Ismaila Yusuf (11.23) and Kenechukwu Iloakaebunam (11.25). The girls 100m title was won by Aniekeme Etim from Akwa-Ibom who fought off stiff competition in the final to win with a time of 12.32secs.

54 SPORT | INTERNATIONAL FOOTBALL

Bafana coach banks on Spain inspiration

afana Bafana coach Gordon Igesund says his team will be building on their performance against Spain last year when they welcome Brazil to the FNB Stadium in an international friendly on Wednesday evening. “We want to put up a good performance. Let’s hope that we can put up a good showing. We’re playing a very good team, five-time world champions,” Igesund said of the game. “I’ve got a squad of players which will be our national team moving forward. We’re looking to pick up from where we left off. Everyone is fighting for places.

Ramos welcomes rival, Costa to Spain team

eal Madrid’s Sergio Ramos has welcomed Atletico Madrid’s Diego Costa into the Spanish national team despite onfield antics in the Madrid derby at the weekRamos (left) end. Ramos and Costa were involved in several altercations during the 2-2 draw between Real Madrid and Atletico Madrid on Sunday afternoon but Costa has joined up with the Spanish national side and been welcomed kindly by Ramos.

Eriksson slams Campbell’s racism claims

ormer England manager Sven-Goran Eriksson has denied Sol Campbell’s claim that he would have been captain of the national team “for more than 10 years” had he been white. Campbell, who played 73 times for his country, claims in a new authorised biography that the Football Association and the majority of fans do not want a black England skipper. The 39-year-old said: “I believe if I was white, I would have been England captain for more than 10 years - it’s as simple as that. I think the FA wished I was white. I had the credibility, performance-wise to be captain.” On the appointment of Michael Owen, who wore the armband on eight occasions, ahead of him, Campbell added: “I think the FA didn’t want me to have a voice. Owen was a fantastic forward but nowhere near being a captain. It was embarrassing. I’ve asked myself many times why I wasn’t. I keep coming up with the same answer. It was the colour of my skin.”

Nasri keen to make World Cup squad S

amir Nasri hopes to earn himself a place in Didier Deschamps’ World Cup squad by repeating his Capital One Cup final heroics for the rest of the season. “The best response is on the pitch,” Nasri told L’Equipe. “It’s up to me to give him headaches by repeating this kind of performance.” Nasri found himself frozen out of Deschamps’ plans for a period after being banned for three games following a clash with a journalist during Euro 2012 and Nasri feels he is unfairly treated in his homeland. “I reacted badly, of course,” added Nasri. “But I was provoked. I responded. I didn’t kill anyone - I insulted a journalist. People don’t know us. They read the papers, they watch the TV and if they hear that ‘him, he’s a moron,’ that obviously leads to a negative connection with the public. “I can seem arrogant because I want to be sure of myself. If you don’t believe in yourself, no one will do it for you. But if the only thing you hear is criticism then inevitably, in your head, that bothers you.”

Juve ‘amazed’ by Chiellini call-up

Five England players miss training

Chiellini

ive England players missed training on Monday morning as Roy Hodgson began preparations for Wednesday’s friendly against Denmark. Kyle Walker, Andros Townsend, Adam Lallana, Steven Caulker and John Ruddy all missed the session at Tottenham’s training ground. All five are undergoing recovery work inside the state of the art facility near Enfield. Townsend, Caulker and Ruddy all played on Sunday so they were always likely to miss Monday’s session. Walker reported with his teammates to the training ground but he was walking gingerly due to a hip injury. Lallana played the whole of Southampton’s 3-0 defeat to Liverpool on Saturday but was not deemed fit enough to train with his England team-mates on Monday.

Sanctity of Truth

uventus have acted with amazement after Giorgio Chiellini was called up to the Italy squad to face Spain in an international friendly on Wednesday, despite missing the last three weeks due to injury. The centre-back w a s an unused substitute for the Bianconeri in a 2-0 win over AC Milan at the San Siro on Sunday night as Juve extended their lead at the top of Serie A to 11 points. The league leaders had hoped Chiellini could use the international break to complete his recovery from a

calf injury which has seen him miss matches against Chievo, Torino and Trabzonspor. Instead, the 29-year-old will report for national team duty in Milan on Monday and may feature on Wednesday night in Madrid. “I would have expected at least a call from [Italy coach Cesare] Prandelli to say ‘Hey, stupid, how’s Giorgio?’,” Conte said in Milan. “I don’t find this behaviour very polite or kind. We give so many players in the national team, and we get treated like this. I don’t think it’s on.” Juve will now be seeking talks with Prandelli in a bid to release Chiellini from his national team obligations and allow him to prepare for next Sunday’s Serie A clash with Fiorentina.

Montenegro keeper scared of Ghana

ontenegro’s first choice goalkeeper, Vukasin Poleksic, fears his depleted side will be thrashed by Ghana in the international friendly. The Brave Falcons would be without Manchester City striker Stevan Jovetic and captain Mirko Vucinic, who plays for Italian champions Juventus. “The game against Ghana is going to be a challenging one because they are a top team and are here complete while we are depleted,” Poleksic said. “They were in the quarter finals of the previous World Cup and failed

to make the last four just by virtue of ill-luck. “We would be less strong by virtue of injury but we need our supporters to play a part, we need them to play the extra man for us. “Even dough it’s just a preparatory game the score line will help us in the next game so it’s very important we give a good account of our self. “Defeat will be a hard fall so we should try as much as possible to put that thought out of mind.”

Tuesday, March 4, 2014

Nasri

Injuries worry for Germany coach

er many coach, Joachim Low, has expressed concern over the form and fitness of his side with 100 days to go before the start of the World Cup. Low “On paper, we have a top team with top quality and top individuals, but the reality looks a little different,” he said at a press conference on Monday. “The truth is not so nice because many of our players have been injured for a long time and don’t have much rhythm, be it due to a dip in form or niggling injuries, which is why we need to use these next two and a half months to improve and do everything to reach top form.” Low is once again without Mario Gomez, who has only just returned from a five-month injury lay-off with Fiorentina, while fellow Serie A striker Miroslav Klose is a doubt for Wednesday’s friendly with Chile in Stuttgart.

SPORT 55

Sanctity of Truth

Tuesday, March 4, 2014

Mexico unveils killer squad for Eagles C O N T I N U E D F R O M PA G E 5 1

shut down any possibility of returning to the Mexican team for this World Cup. The eight players from Europe are: Guillermo Ochoa, Hector Moreno, Andres Guardado, Diego Reyes, Hector Herrera, Javier Aquino, Javier Hernandez, and Giovani Dos Santos who has been replaced with Club America striker, Raul Jimenez after suffereing a calf injury against Villarreal at the weekend. The Nigeria,Mexico match holds 2.30am on Thursday in the USA.

Pistorius pleads not guilty to three firearms charges

outh African Olympian, Oscar Pistorius, pleaded not guilty to three firearms charges as his trial for the murder of his girlfriend on Valentine’s Day last year opened on Monday. Pistorius was charged with contravening the country’s firearms laws af-

Victor Moses Off to Atlanta in America for our game against Mexico. @VictorMoses George Abbey @OdemwingieP cheering the lads on to a well-deserved victory over Arsenal. lFormer Nigeria defender, George Abbey, after posting a picture of himself and Osaze Odemwingie at the Britannia Stadium cheering Stoke City to victory. @GeorgeAbbey15

Goalkeepers: Guillermo Ochoa (Ajaccio), Jesus Corona (Cruz Azul), and Moises Muñoz (America) Defenders: Hector Moreno (Espanyol), Diego Reyes (Porto), Andres Guardado (Bayer Leverkusen), Paul Aguilar (America), Francisco Rodríguez (America), Miguel Ponce (Toluca), Miguel Layun (America), Enrique Perez (Atlas), Juan Carlos Valenzuela (America), and Rafael Marquez (Leon). Midfielders: Javier Aquino (Villarreal), Hector Herrera (Porto), Jose Juan Vazquez (Leon), Juan Carlos Medina (America), Carlos Peña (Leon), Isaac Brizuela (Toluca), and Luis Montes (Leon). Forwards: Javier ‘Chicharito’ Hernandez (Manchester United), Giovani Dos Santos (Villarreal), Alan Pulido (Tigres), and Oribe Peralta (Santos).

igeria and Ghana have concluded arrangement to shun the Confederation of African Football’s planned training programme for African teams participating in the forthcoming 2014 FIFA World Cup finals in Brazil. The Confederation of African Football last week planned a CAF training programme in Cameroon for the continent’s five teams going to the World Cup in June. But New Telegraph can report that both the Nigeria Football Federation and Ghana Football Federation are opting out of the arrangement because they have their plans lined-up already. “I don’t think we will have the time to train in Cameroon,” NFF General Secretary, Musa Amadu, said. “We have already made our arrangements for the World Cup preparations and we cannot opt out of that with this short notice; all the same we thank CAF for being very gracious for the offer. “CAF obviously have the interest of the five representatives including Nigeria at heart before coming out with such plan but we have concluded our arrangements for the World Cup,” Amadu explained. Similarly, Ghana FA insiders say that though the federation appreciates the concern of the continental football governing body, the Black Stars won’t be able to participate

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Kanu Nwankwo I thank God. Thanks for all your support and keep supportter he shot through the sunroof of the ing. lNigeria legend, Nwankwo Kanu, thanks fans after being car of his former lover. He also was also accused of reck- honoured by the Nigerian President. @papilokanu lessly discharging a firearm at a restaurant table in a manner that could Eniola Aluko have endangered other patrons. The Just seen YaYa’s goal today!!! The disguise on it was just disgusting. Class. third charge relates to possession of lNigerian-born England women football star, Eniola Aluko, ammunition without a permit. in awe of Yaya Toure’s goal against Sunderland in the final of the Capital One Cup. @EniAlu

The 23-man team

Nigeria, Ghana snub CAF

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Kevin-Prince Boateng Lunchtime with my Ghana black stars... @sulleymuntari @asamoahkwadwo @iam_ess. lGhana midfielder, Kevin-Prince Boateng, after posting a picture of himself, Sulley Muntari, Kwadwo Asamoah and Michael Essien having lunch. @KPBofficial Ramires We’re coming, Johannesburg! Estamos chegando Joanesburgo! lChelsea midfielder, Ramires, takes to Twitter ahead of Brazil’s match against South Africa. @Rami7oficial

Emmanuel Emenike (left), being challenged by an Ethiopian defender

Kobe Bryant Time has wings my brotha. Your game pushed my then 21 year old self to play beyond my years. Your impact on the game will be felt for generations. lBasketball icon, Kobe Bryant, gives a shout out to former NBA superstar Allen Iversen. @kobebryant

Eagles to train without kits C O N T I N U E D F R O M PA G E 5 1

bers that travelled but New Telegraph learnt that due to poor logistics he could not meet up with the flight schedule. However, the Super Eagles almost missed their flight to the United States also on Sunday. The team made up of home-based Eagles and assistant coaches were expected to board a Delta Airline by 8pm at the Murtala Muhammed International Airport, Lagos for the trip to the United States but our correspondent authoritatively learnt that no member

of the team showed up at the boarding point until the process was closed. Our correspondent learnt that the flight almost took off when the officials of the Nigeria Football Federation and members of the team eventually came around 9:45pm and it took passionate pleadings before the officials of Delta Airline allowed them to be checked in. According to a source at the airport, two players; Ejike Uzoenyi and Ebenezer Odunlami, were spotted at the airport premises around 5pm but the players never came close to the terminal point to be checked in.

“We saw two of the players around 5pm. I mean Odunlami and Ejike but we were very surprised that they never came to the boarding point. I think they are international players who should know the rules; you don’t expect that an airline will delay its flight for you because you are a VIP. If not that the team is going on a national assignment I don’t think they would have been allowed to join the flight,” the official said. Nigeria will take on Mexico 2.30am on Thursday morning in the United States.

CAF Champions League: Enyimba axe coach, read riot act Chimaobi Uchendu

nyimba have axed goalkeeper coach Sulaiman Shuaibu and read a riot act to the other coaches over the 2-1 home defeat suffered against AS Bamako of Mali on Sunday in Aba. Club chairmain, Felix Anyansi, told New Telegraph after a meeting with the team on Monday that Shuaibu has been suspended till further notice for fielding an unfit goalkeeper (Femi Thomas) in the encounter. Anyansi also disclosed that the other coaches led by Zakary Baraje have been

ordered to win and qualify the team to the next round in Mali or else be sacked. However, Anyansi, has said the 2-1 home defeat his side suffered against of AS Real de Bamako on Sunday does not mean the end of their quest to lift the trophy for the third time. “It was a bad evening for us in Aba on Sunday but as sportsmen, we have moved on, looking forward to the second leg. “We’re in a difficult position but we have all it takes to come out unscratched. The players and the technical crew are aware and are working hard to correct the mistakes made on Sunday,” he said.

Anyansi

World Record

On Marble If you want to plan for a lifetime, educate a child. – Chinese proverbs

Sanctity of Truth

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

Three things cannot be long hidden: the sun, the moon and the truth – Buddha TUESday, MARCH 4, 2014.

The most expensive hotel room in the world is the Royal Penthouse of President Wilson Hotel, Geneva, Switzerland. It costs $65,000 per night.

N150

The maritime dilemma in Nigeria DANGEROUS TIDES Pirates throw up deadly waves in the Gulf of Guinea

World View

ollywood has just concluded hosting the 86th Academy Awards, an annual tradition celebrating the motion picture industry and the actors and actresses who shape it. Ahead of the event, airwaves were inundated with speculation that the ‘Captain Phillips’ film adaptation of the surreal hostagedrama saga was a surefire contender for ‘Best Picture’. Whether that was the case, beyond the glitz and glamour, behind the scenes and across oceans, one of the movie’s central themes holds true – piracy has never been more popular and poses to destabilize business-as-usual in Nigeria, the ECOWAS and around the world. Combating piracy on the high seas has historically been an arduous challenge, an often-gory contest that can never be fully won by either party involved. This has been the case from the days of the fleets of colonial Empires to contemporary geopolitical and commercial nautical maneuvering. However, as of late we have seen a dramatic shift in both the approach and targets of contemporary buccaneers, one very relevant to the daily lives of Nigeria’s citizens, it’s foreign investors and it’s economic trajectory. At one moment in time, the waters off the Somali coast were predominantly where these criminal entrepreneurs would predicate within Africa, often returning triumphant from voyages lasting days on end, carrying with them up to millions of dollars in foreign ‘bounty’. Today, the term ‘piracy’ has taken on a more malleable form. It has not only evolved in nature, to include the kidnapping of expatriates operating in-country (regularly occurring in areas such as Port Harcourt), illegal oil siphoning and firewood distillery development for profit, but indeed the practice has shifted geographically, from the ever-more-globally-protected Gulf of Alden to the Gulf of Guinea and the lucrative shores that border West Africa. Although hijackings are not exclusive to oil-carrying ships or ‘skiffs’, vandalizing and tapping pipelines

SAM AMSTERDAM

Militants celebrate at sea.

United Nations Secretary-General Ban Ki-Moon recognized that the ECOWAS needs a comprehensive security framework across maritime boundaries to battle piracy in a coordinated fashion are, as of late, not the only methods of profiteering from the continued endeavours of multinational companies such as Shell, Eni and Exxon Mobil. And those responsible are no longer anonymous faces in a crowd. They are organized and often militant organizations, with more than commercial gain in mind. Maritime Executive Magazine recently reported that earlier this year, pirates attacked a tugboat near the Enicontrolled Brass River crude oil export terminal in Nigeria, kidnapping the ship’s captain along with an engineer. Those responsible claimed to represent the Movement for the Emancipation of the Niger Delta MEND. This is no rare occurrence nor one-off threat to be taken lightly by foreign investors. In 2012, the International Maritime

aries to battle piracy in a coordinated fashion. Despite the best intentions of the Joint Task Force (JTF), further collaboration with the international community and adoption of technological innovations to pragmatically monitor their potential approaches will better check a cabal not to be considered less dangerous than Boko Haram. And much like Boko Haram, as Elizabeth Donnelly from the Africa programme at Chatham House eloquently stated, these factions have a tested “flexibility to adapt and come back”. As the resource-rich ECOWAS region autonomously takes command of its future, piracy is subtly threatening the already-fragile potential for Nigeria’s geopolitical ascendancy. The nation already loses millions and millions of dollars in oil revenue, made worse by the fact that many citizens are caught in the middle of this battle of hearts and minds. Opinions of the loss of foreign actors operating in country, sometimes leaving environmental degradation in their wake are, ostensibly, mixed. In harsh reality, the prospects for “profit-by-piracy” have never been more opportune. It is therefore a global concern, one growing in intelligence, support and overall capacity and serves to be a multifaceted threat. Piracy is simply not going to dissipate as a thriving enterprise in Nigeria without further international intervention.

OmoBaba

PDP WILL DETHRONE APC IN EKITI - Olubolade

Bureau (IMB) and the Maritime Piracy Humanitarian Response Program (MPHRP) reported that the number of large-scale vessels (often traveling with up to 20,000 metric tons of cargo) attacked by pirates in West Africa had reached world-record heights, with nearly 1,000 mariners targeted that year alone. The IMB further reported that the level of violence against said seafarers had become “dangerously high”. United Nations Secretary-General Ban Ki-Moon recognized that the ECOWAS needs a comprehensive security framework across maritime bound-

- Dreeeeam, Dream, Dream...

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