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Wednesday, March 26, 2014 Vol. 1 No. 36

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Fulani herdsmen NNPC’s jet scrapped to maintain strike again, kill 63 presidential aircraft

Cephas Iorhemen Makurdi

Suspected Fulani herds-

men yesterday again attacked Agena and Mbatsada communities CONTINUED ON PAGE 4

Ayodele Ojo, Philip Nyam and Anule Emmanuel

P

resident Goodluck Jonathan has approved the conversion of one of

the two aircraft belonging to the Nigerian National Petroleum Corporation

(NNPC) to scraps.

This was done recently CONTINUED ON PAGE 2

Sale of Intercontinental Bank

Shareholders sue Sanusi, SEC

lCBN withdraws N400bn from banks to stabilise naira Tunde Oyesina Abuja

T

hree shareholders of the defunct Intercontinental Bank yesterday dragged the suspended Governor

of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi and two others before a Federal High Court sitting in Abuja over alleged illegal sale and takeover of the bank by Access Bank.

Joined in the suit are

CBN and Securities and Exchange Commission (SEC) as 2nd and 3rd defendants respectively.

The plaintiffs, Abdullahi Sani, Adaeze Onwuegbusi and Chijioke Ezeikpe, through their

counsel, Chris Uche (SAN) are demanding the sum of N10 billion as special and general damages against Sanusi for the breaches culminating in the wrongful takeover of Intercontinental Bank Plc by Access

fire guts cbn office page 9

Bank.

They also want the court to order CBN to immediately recover the sum of N25.1 billion together with interest accrues still being owed by the trio of Mr. Aig-Aigboje Imokhuede, Mr. Herbert Wigwe and Senator Bukola Saraki.

When the matter came up yesterday, counsel to the

plaintiffs, Uche, prayed the court for leave to serve Sanusi through a substituted means on ground that his present place of abode after his suspension is not known.

Uche further prayed the court to serve the application on Sanusi through his last office address at the CBN and that the applicaCONTINUED ON PAGE 2 & 4

national conference

Delegates shoot down referendum STALEMATE

Participants at the confab fail to agree on 75 per cent voting procedure Louis Achi and Onwuka Nzeshi Abuja

T

he bid by some delegates to subject the final report of the National Conference to a referendum suffered a setback yesterday as the proposal was shot down on the grounds that it was prema-

The scene of the fire incident at the Central Bank of Nigeria (CBN) office in Lagos... yesterday

AT A GLANCE

INSIDE

NEWS

POLITICS

EDUCATION

Nigeria loses N50.4bn as Shell shuts down Forcados line Page 10

SPORT

Octogenarians have no business being at the confab, says Fasehun Page 14-15

OAU student powers car with solar energy Page 28

Keshi: No player can bribe me Page 51

News. . . . . . . . . . . . . .

Metro . . . . . . . . . . . . .

Politics . . . . . . . . . . . .

Opinions. . . . . . . . . . .

Arts. . . . . . . . . . . . . . .

Education . . . . . . . . . .

Business . . . . . . . . . . .

Sport. . . . . . . . . . . . . .

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ture, unconstitutional and that the conference lacked the locus standi to impose its will on the Nigerian people.

Similarly, attempts by some delegates to resurrect the inconclusive debate on the mode of reaching decisions at the conference were equally frustrated and the issue shelved till a later day.

The conference was thrown into rowdiness on Monday when delegates disagreed over the provision in the Rules of Proceedings that the conCONTINUED ON PAGE 3

Lagos

Storm

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Shareholders sue Sanusi, SEC CONTINUED FROM PAGE 1

tion should be pasted on the notice board or be given to an adult in the bank.

In his short ruling, the trial judge, Justice A.R Mohammed, granted the plaintiffs’ prayer and ordered that the court process be served on Sanusi through his last office address at the CBN. He later adjourned till May 14 for hearing.

In their originating summons, the plaintiffs are praying for an order of the court that the takeover of Intercontinental Bank by Access Bank on the scheme, direction and instruction of Sanusi without lawful justification whatsoever is null and void.

They argued that Sanusi took the action in a bid to confer corrupt advantage upon himself and his friends/associates/ cronies to the investment detriment of the plaintiffs and infringement of their personal rights.

The plaintiffs also want the court to mandate SEC as the official and apex regulator of the Nigerian

capital market, acting under its power pursuant to Section 13 of the Investments and Securities Act 2007, to conduct detailed public investigation into the circumstances relating to and connected with the sales of the shares, assets and securities of Intercontinental Bank to Access Bank.

This, the plaintiffs argued, will protect them as shareholders and investors of the said bank and maintenance of a fair and orderly securities market and protect the integrity of the securities market against all forms of abuse as occasioned by Sanusi and his friends.

The court was also asked to compel the CBN, pursuant to Section 1 of the Freedom of Information Act 2011 and pursuant

to the plaintiffs’ request, to make available to the plaintiffs all information, documentation and records in its possession and custody relating to and concerning all the stages and steps taken by the CBN, including all the records, shareholdings, or equities of all persons involved, in the transactions culminating in the takeover of the bank.

They also sought the records of financial status of Intercontinental Bank as at July 31,2009.

The plaintiffs had among others, asked the court to determine whether Sanusi, acting as the Governor of CBN, did not act fraudulently, in breach of his public office against the public interest and contrary to Sections 12,32,35 and 39 of the Banks and

Other Financial Institutions Act, Cap B4 Laws of the Federation of Nigeria 2004 in deliberately strangulating the banking operations and falsifying the actual financial state of affairs of Intercontinental Bank Plc as a ground for revoking its operating licence.

They also ask the court to determine whether Sanusi acting as the Governor of the Central Bank did not act fraudulently in selling Intercontinental Bank to Access Bank, notwithstanding that the facilitator of the said transaction, Saraki, was also indebted to Intercontinental Bank to the tune of N8.9 billion through his companies, Limkers, Dicetrade, Skyview Properties and Joy Peteroleum.

The plaintiffs also want

the court to determine whether Sanusi acted right in waiving the sum of N16.2 billion owed by Aig-Aigboje Imokhuede and Herbert Wigwe, the Managing Director and Deputy Managing Director of Access Bank and the sum of N8.9 billion owed

by Saraki in a bid to enable Access Bank to fraudulently purchase Intercontinental Bank at a ridiculous sum of N50 billion only when the quarterly profit of the said bank was more than N50 billion.

They also want the court to determine whether Sanusi’s act of appointing Mahmoud Lai Alabi, an agent of Saraki, as Managing Director of Intercontinental Bank to superintend the eventual sale of Intercontinental Bank was not fraudulent.

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KANO

40o 21o Partially cloudy

ENUGU

34o 24o Storm

IBADAN

33o 24o Thunder storm

CALABAR

33o 23o Thunder storm

MAIDUGURI

42o 27o Partially cloudy

ONITSHA

34o 24o Thunder storm

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

TODAY’S WEATHER FORECAST PORT HARCOURT

FLIGHT SCHEDULE

L-R: Executive Director, Stakeholders Managment and Corporate Communications, Eng. Ahmed mansur; Chief of Staff to the President of Dangote Group, Eng. Joe Makoju; Group Managing Director, Dangote Dement, Dvg Edwin and a director, Knut Ulvmoen at the launch of Dangote Cement new 3x bag, held in Lagos... yesterday

Reps summon CBN gov, AGF over missing N56bn CONTINUED FROM PAGE 1

tured by the same company, Hawker Corporation, which has gone bankruptcy.

“Because of the age factor and its unserviceable state, the president approved that the 30-year-old plane be converted to scraps to service a jet in the presidential fleet,” the source said.

NNPC has no functional aircraft, thus relying on private jets for operational and ministerial use.

The unserviceable state of the NNPC’s aircraft since 2012 has been responsible for the billions of naira being spent on chartered private jets by the oil company.

About N10 billion was

alleged to have been spent so far in the last two years to charter private jets for the use of Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke and NNPC top officials.

The House of Representatives is probing the minister over the huge amount so far spent on private jets.

NNPC had on Monday justified the use of private jets as it is legally empowered to do so.

A source in the Presidency told New Telegraph that one of the NNPC’s aircraft, Hawker 4000, had on two occasions lost altitude and crash-landed. The source said the aircraft crash-landed in Osubi Airstrip, Warri, Delta

State in 2012. “Since 2012, the aircraft had remained within the precinct of the Osubi Airstrip. It has gone beyond maintenance. Even its manufacturer, Hawker Corporation, has stopped manufacturer. Thus there is no manufacturer for its spare parts. So, this is the fate of one of the aircraft,” the source said.

The source added that the second aircraft, which is 30-year-old, had lost altitude on two occasions leading to emergency landing.

The President had converted it into scraps to service one of the presidential fleet.

The source said NNPC has requested to buy $50-70 million aircraft of which the president has not ac-

ceded to.

“This is why the corporation has relied on the use of chartered jets for operational uses,” the source added.

Reps summons CBN gov, AGF Meanwhile, the House of Representatives has summoned the Accountant General to the Federation (AGF), Mr. Jonah Otunla, the acting governor of Central Bank of Nigeria (CBN), Mrs Stella Alade and the Director General, Budget Office over the alleged missing N59.6 billion subsidy money meant for the NNPC. Chairman of the House Committee on Public AcC O N T I N U E D O N PA G E 4

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

NEWS

Sanctity of Truth

Wednesday, March 26, 2014

SCREENING

The appointees will either be confirmed or dropped as Senate begins screening today Chukwu David Abuja

T

he Senate will today screen for confirmation, Mr. Godwin Emefiele and Justice Zainab Bulkachuwa as the new Governor of the Central Bank of Nigeria, (CBN) and President, Court of Appeal respectively. President Goodluck Jonathan had sent the two names to the Senate.

The Senate also referred the screening of Mr. Adelabu Adebayo Adekola to its Committee on Banking, Insurance and other Financial Institutions to screen for appointment as Deputy Governor of the CBN. These were the resolutions of the Senate at plenary yesterday, when the Senate Majority Leader, Senator Victor NdomaEgba, moved relevant motions to enable the Senate Act on the issues of the above appointments as listed on the Senate Order Paper.

After Sanusi Lamido Sanusi was suspended as Governor of the CBN,

3

Senate screens Emefiele, Bulkachuwa as new CBN gov, PCA President Jonathan had written to the Senate on February 20 to confirm Emefiele for appointment as the new governor of the apex bank.

He also requested the Senate to confirm Adekola for appointment as the Deputy Governor of the CBN, as replacement for Mr. Tunde Lemo, who retired from the apex bank.

Emefiele is the current Chief Executive Officer and Group Managing Director of the Zenith Bank PLC while Adekola is the Executive Director of the First Bank of Nigeria Ltd. Moreover, President Jonathan through a letter to the Senate President, David Mark, last Wednesday, asked the Senate to confirm Justice Bulkanchuwa as the President of the Court of Appeal.

In a letter dated March 13, and read on the floor of the Senate last week by the Deputy President of the Senate, Ike Ekweremadu, who presided over the plenary, President Jonathan said the nomination of Bulkachuwa as President of the Court of Appeal was in conformity

with relevant provisions of the 1999 Constitution and recommendation of the National Judicial Council(NJC) for such appointment.

Justice Bulkachuwa, who hails from Bauchi State is currently the Acting President, Court of

Appeal.

In another development, the Senate gave its sub-committees an ultimatum to submit their reports on the 2014 Budget today or the chamber would be left with no option than to adopt the Executive proposals as origi-

nally proposed.

The spokesman of the Senate, Enyinnaya Abaribe, while briefing journalists after plenary, explained that the Senate had to cut short its plenary to enable the defaulting committees conclude and turn in their reports as di-

rected by the Senate.

Asked why a new CBN Governor was being screened while the incumbent Governor, Sanusi, was being investigated, Abaribe said that the intention was to forestall a vacuum after the expiration of Sanusi’s tenure.

L-R: Former Governor of Abia State, Dr. Orji Uzor Kalu; Prof. Jibril Aminu; Canadian High Commissioner to Nigeria, Perry J. Calderwood and Senator Emmanuel Onwe at a private dinner in honour of the High Commissioner at Kalu’s residence in Abuja.

1,155m

2,023m

438m

The number of active mobile-broadband subscriptions worldwide in 2011 Source: Itu.int

The number of individuals using the internet worldwide in 2010 Source: Itu.int

The number of mobile-cellular subscriptions in Africa region in 2011 Source: Itu.int

Confab: Delegates shoot down referendum CONTINUED FROM PAGE 1

ference could only arrive at decisions through consensus or when the issue was endorsed by 75 per cent (three quarters) of the delegates.

However, these setbacks came same day, the media scored a major victory at the conference as delegates unanimously voted against a provision in Order 14 Rule 7 that sought to gag the press. The rule had earlier provided for sanctions against media houses that publish or broadcast reports considered unfavourable to the conference.

The battle to entrench referendum came on the second day of consideration of the Rules of Proceedings and it was Chief Olaniwun Ajayi, a delegate from the South-West who stirred the debate.

Ajayi had advocated for an express inclusion of a

clause in the rules stipulating that the report of the conference shall be subjected to a referendum. He cautioned that the conference should avoid the mistake of submitting its report to the National Assembly.

He argued that Order 13 Rule 3 that suggested that the conference report may go to the National Assembly should be expunged.

“We know why we are here. As I said earlier on, to rewrite our history. We know what our problems have been and why we have not been able to make it having been together for one hundred years; 54 part of which we were a sovereignty, yet we were not making progress. We realise that and thanks to the President who convoked a conference. It is to right all the wrongs of the past.

“If by any mistake, the

decisions of this conference are submitted to the National Assembly, then we are back to square one.

Mr. Chairman, I do beg of you and all members of this conference that we want to be happy people of a united and great country.

But we cannot do so if we do not observe what is fair, just and equitable. “If we forget by any means, the problems that we have been facing for 54 years, it’s a great pity. It will be very wrong of us and I am sure we shall be on the wrong side of history if we make the mistake of submitting our decisions to the National Assembly rather than submitting it to the people of this country by referendum,” he said.

Ajayi said that the referendum would pave the way for the drafting of a new constitution that could be truly called the people’s

constitution.

Although, Ajayi received some applause from a cross section of the delegates, the euphoria of having a referendum was short lived as the Chairman of the conference, Justice Idris Kutigi ruled that the issue of what would happen to the report of the conference should be left till the end of the conference.

“I suggest that we leave that until the end of the conference when the report is ready. We will then decide where we would forward it. It depends on the nature of the recommendations made that would decide where we will send the report. When making our recommendation, we would decide which laws would be amended, which law would be enacted. That is the legal procedure we would adopt in making our

recommendations,” Kutigi said.

This intervention was greeted with shouts of disapproval and almost immediately, several hands were in the air itching to be called to contribute to the debate.

Human rights activist, Dr Joe Okei-Odumakin spoke in support of the referendum and warned that the conference would be a waste of time if its recommendations were not subjected to a process that would be owned by the people.

Former Senate President Ken Nnamani observed that it appeared that some delegates were trying to confer on the conference the powers that it does not have. He said that contrary to the feelings of some delegates, the conference cannot be paced above the National Assembly and

could do what the parliament had been unable to do.

“Some delegates are inadvertently thinking that we are elected to come and do something for the country. If we listened carefully to Mr. President on March 17, I heard him clearly trying to persuade the Chairman of the National Assembly Joint Committee on Amendment of the Constitution to expedite action on the issue including referendum in the constitution. Right now, we are trying to delude ourselves by trying to impose referendum on this conference. We don’t have the legal backing to do that.

My view is that Nigeria is a state governed by rule of law that is anchored on the 1999 Constitution,” he said.

Nnamani said that until the 1999 Constitution was C O N T I N U E D O N PA G E 5

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Wednesday, March 26, 2014

CBN withdraws N400bn from banks to stabilise naira Ayodele Aminu and Abdulwahab Isa Abuja

I

n a bid to save the Naira, which has been under severe pressure in the past three months, the Monetary Policy Committee (MPC) of the CBN, yesterday, raised the Cash Reserve Ratio (CRR) for private sector deposit to 15 per cent from 12 per cent.

This is expected to translate to the removal of an estimated sum of over N400 billion from the vaults of Deposit Money Banks.

The stance of the MPC however, fell short of the expectation of experts, who had expected the Committee to have shifted

the 150-160 NGN/USD exchange rate band to bridge the wide gap between the official and the parallel markets, where the naira exchanged for N56.74 and N171 per dollar respectively.

The CRR is the volume of cash in their possession that the banks have to keep with the Central Bank and is used to drain out excessive liquidity from the system.

If the banking watchdog decides to increase the CRR, the available amount with the banks reduces.

The MPC, the first to be chaired by the Acting governor, Dr. Sarah Omotunde Alade voted unanimously for further tightening – sticking to

the tight monetary policy stance of suspended Governor Sanusi Lamido Sanusi. It, however, left both the Monetary Policy Rate (MPR) at 12 per cent and CRR for public sector deposit at 75 per cent.

Addressing the media, Alade said that members voted to keep MPR at 12 per cent, while four members voted for an increase in MPR. Seven members, she said, voted to retain the MPR corridor at +/2%, while two members voted for an asymmetric corridor.

She said that Committee unanimously agreed that a continuation of a tight monetary policy was needed to consolidate recent gains.

“Recent resurgence of core inflation in spite of the downward trend in headline inflation reinforces this position. Thus, prudent monetary stance would also facilitate better reserve and exchange rate management in an environment where Fed tapering increases pressure on emerging economies financial markets”, she said .

Alade said the MPC welcomed the growth expectations but expressed concern that the industrial sector had continued to lag behind.

Justifying the decision to hike rate for private deposit Alade said: “We had said that public sector CRR was necessitated

by treasury single account maintained by the Ministry of Finance, which was not forthcoming. That was why that 75per cent was enforced, but now that the Federal Ministry of Finance has been able to bring the account of MDAs into singular account treasury, the committee decided there is no need to raise the rate for public sector deposit.”

She also ruled out devaluation of Naira as immediate option of the CBN, adding that a careful decision to avoid tempering with the value of naira informed the decision to increase the CRR. Commenting on the stance of the banking watchdog, Managing Director, Financial Derivatives Company Limited,

Mr. Bismarck Rewane, said the CBN was only postponing the evil day for the Naira.

He said: “Raising the private sector deposit alone is like putting a plaster on a deep wound. It is like kicking can down the road. Sooner or later, the CBN would have to act on the Naira exchange rate band. The earlier they act, the smaller the adjustment and the later they act, the bigger the adjustment.”

Insisting that adjusting the Naira exchange rate band is inevitable, he said that as long as the CBN continues to defend the Naira with foreign reserves, which had fallen to about $37 billion, “uncertainty will continue in the forex market.”

Fulani mercenaries

CONTINUED FROM PAGE 1

L-R: GMD/CEO, UBA Plc, Mr. Phillips Oduoza; Group Executive Director, Finance and Accounts, Nigerian National Petroleum Corporation (NNPC), Mr Bernard Otti; and Group Managing Director, NNPC, Engr. Andrew Yakubu, at the dinner for delegates to Nigeria Oil and Gas Summit held in Abuja...recently

N8.82bn

128.9m

N3.35bn

The internally generated revenue of Enugu State in 2010 Source: National bureau of Statistics

The total population of Middle Africa region (representing 1.87% of the world’s population) in 2010 Source: Blatantworld.com

The IGR realized from PAYE (taxes) in Anambra State in 2010 Source: National bureau of Statistics

in Gwer Local Government, Benue State, killing 63 Tiv farmers.

Others sustained varying degrees of injuries.

The Fulani herdsmen invaded the area around 6:30am and opened fire on residents, killing people indiscriminately.

Those butchered included pregnant women, old men and children.

Corpses of the victims were moved to the Federal Medical Center (FMC), Makurdi where thousands of youths climbed trees and the fence of the hospital to catch a glimpse of the bodies that littered the

ground.

The killing has brought to approximately 129 Tiv farmers killed

by Fulani herders in one week.

Chairman of the council, Hon. David, could not be reached for comments as his phones did not go through but New Telegraph learnt that sporadic shootings and burning of houses lasted for hours until armed policemen were drafted to the scene to restore order.

Spokesman of the state police command, SP Daniel Ezeala, confirmed the incident.

But he said only seven persons were killed.

NNPC’s jet scrapped to maintain presidential aircraft CONTINUED FROM PAGE 2

Budget Office over the alleged missing N59.6 billion subsidy money meant for the NNPC. Chairman of the House Committee on Public Accounts, Hon. Adeola Solomon Olamilekan (APC, Lagos) disclosed this yesterday at the investigation session of the committee.

Both the Budget Office and the Office of the Accountant General had claimed that the money was disbursed to NNPC but the commission denied knowledge of the fund.

NNPC officials led by the

corporation’s Chief Strategist, Dr. Timothy Okor had told the committee that all attempts to make the Budget Office and AGF do a formal letter stating that the said N59.6 billion was not cash-backed failed.

Olamilekan had consequently directed: “You will do us a formal letter explaining to the committee that at no time you received N59.6 billion but Deliotte Accounting firm in its report claimed the fund was disbursed.

“Towards this direction, this committee hereby summons the CBN,

AGF and Budget Office to explain why such sum of money was disbursed without any documentary evidence.”

In a related development, the Inspector General of Police (IGP) Mohammed Abubakar has denied receiving N19.7 billion allegedly paid the police by the CBN to among others purchase helicopters for the police.

Assistant Inspector General of Police in charge of Air Wing, Ilesanmi Aguda who represented the IGP told the committee that they have “no knowledge”

of the money, advising that queries on the whereabouts of the Police Equipment Fund (PEF) to the Ministry of Police Affairs.

Following the denial, the committee chairman summoned the acting CBN Governor, IGP and the police affairs minister to appear next Tuesday to explain the whereabouts of the “missing” Police Equipment Fund.

Jonathan on “missing” $10bn In another development, President Jonathan has denied media reports that he confirmed that N10 billion was actually missing in the

accounts of the NNPC. The President in a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati said: “At no time during the wellattended reception did President Jonathan also confirm any irregularities in the NNPC.” Reports in some section of the media (New Telegraph not inclusive), quoted President Jonathan to have confirmed the missing money in Amsterdam during his meeting with the Nigerian community.

Abati insisted that President Jonathan while

speaking in Amsterdam did not confirm that the NNPC wrongly withheld $10 billion from the federation account. His words: “This is completely false and a total distortion of the President’s comments during his meeting with the Nigerian community in the Netherlands.

The presidential aide noted that “President Jonathan’s verifiable words while responding to questions from members of the community on the allegation and other domestic issues were clear and unambiguous.”

NEWS

Sanctity of Truth

Wednesday, March 26, 2014

5

FROM THE NATIONAL CONFERENCE

A

delegate to the ongoing National Conference and Senior Advocate of Nigeria, Sir Mike Ahamba, has enjoined the chairman, Justice Idris Legbo Kutigi (rtd), to jettison the idea of using seventy-five per cent as basis for reaching decisions.

Ahamba gave the warning in a telephone conversation with New Telegraph yesterday.

The constitutional lawyer expressed surprise on the contentious order of proceedings, arguing that any insistence on the

Ahamba takes Kutigi to task

Says conference based on 75 per cent majority decision will fail rule, will mean that some unnamed interests have decided that “nothing tangible should come out of the conference”.

He also kicked against the issue of consensus, pointing out that same was a tall order, as long as human beings, whose interests vary along many lines, were involved.

His words: “I don’t believe that consensus is ap-

propriate as a rule in this type of conference where there are bound to be divergent views and interests that that can only be controlled by democratic norms of the majority.

“Consequently, consensus is something that should come on its own and not provided for in our rules.”

On the issue of 75 per cent, the national del-

egate said: “I’m also not in support of seventy five as basis for decision making, because once you are having such a provision in any statute or rule, it means that you don’t want decisions to come easy; it will be very difficult, if not impossible.”

As a way out of the quagmire, Ahamba proposed the adoption of decisions by two-thirds,

L-R: Former Minister of Information, Prof. Dora Akunyili; former Minister for Women Affairs, Mrs. Josephine Anenih; and former Minister of State for Defence, Erelu Olusola Obada, at the National Conference...yesterday

Photo: Timothy Ikuomenisa.

owing largely to the inevitability of taking “crucial decisions” to better the lot of the country.

“I would support two-

third because we may have to take some crucial decisions that may require more than simple majority.

Secretariat confirms payment of delegates’ allowances

T

he National Conference secretariat said yesterday in Abuja that it had paid the allowances of delegates to the conference.

The Assistant Secretary, Conference Proceedings, Dr Akilu Indabawa, disclosed this at the resumed plenary at the official venue of the conference at the National Judicial Institute (NJI).

Indabawa said that the secretariat had been inundated with so many enquiries from some delegates who had not received alerts of their payments.

“Some delegates gave business accounts but we cannot pay into business accounts but personal accounts of the delegates.

“We have paid for two

weeks ahead from 17th March to 31st March. The payments covered accommodation and transport while sitting allowance is paid for Mondays to Thursdays.

“We are giving you the payment slips so that you can know how much you earned,” he said.

The secretary, however, said that there were still issues with GTBank and asked delegates using the bank to bear with the secretariat till the issue is resolved.

Indabawa also said that the secretariat was making efforts to provide tags to personal aides of the delegates to address their complaints of constant harassment by the security personnel.

Confab: Delegates shoot down referendum CONTINUED FROM PAGE 3

replaced, there would be no other document that would guide Nigeria. He argued that the National Conference delegates were not above the constitution, as they were not elected and cannot draft a new constitution.

He urged them to shelve the idea of a referendum and do only those things within the powers of the conference.

Alhaji Magaji Dambatta, a delegate from Kano State, urged the conference to confine itself to things within its powers as stipulated by the President during the inauguration.

On the debate over how the conference should arrive at decisions, there were attempts by the former Governor of Akwa Ibom State, Obong Victor Attah to resurrect the issue.

Attah observed that there were inconsistencies in the rules about the issue and called for the conference to adopt a uniform position of two-thirds majority.

This position was supported by the National Chairman of Labour Party (LP), Mr Dan Nwanyanwu but another delegate, Justice Mohammed Gumi reminded them that the national conference was not a parliament.

“You must remember that this is not a parliament. It is a special instrument established to correct certain things wrong with our country and if we decide these weighty issues on two-thirds majority, we will be doing more harm than good,” he said.

Kutigi ruled that the debate would be taken on the matter later. He observed that when the matter came up previously, he had ruled

that the matter be deferred and that he still stood by that ruling.

Other issue that featured at the proceedings on Tuesday was Order 12 which had to do with the placement of delegates in committees. Some delegates advised that the secretariat should place delegates in their right committee where they have professional expertise.

Although Order 12 Rule 1 gives the powers of placing delegates in committees, but some delegates said that it would be proper for some delegates to assist the secretariat to make the placements.

On the issue of media censorship at the conference, a representative of the Newspapers Proprietors Association of Nigeria (NPAN) and Publisher of ThisDay newspapers, Prince Nduka Obaigbena

kicked against Order 14 and asked that the provision be scraped.

Obaigbena said that the media was an integral part of the society and should be allowed to do its job without hindrance. He also urged the conference not to seek to do everything but to focus on key issues which could be incorporated in the constitution.

This position was further reinforced by a civil rights activist, Mr. Festus Okoye who agreed that Order 14 /7 should be expunged and let the conference rely on the integrity of the media to report the proceedings of the conference.

Mr. Fola Adeola made a critical intervention when he urged the conference chairman, Kutigi to step it down and consult widely before tabling it again.

“I urge the Chairman

to meet with leaders of different zones and urge them to engage their different memberships.

There is a lot more that we would need to negotiate over. A consensus, we all agree, is far superior to voting,” Adeola said.

Deputy Chairman of the Conference, Prof. Bolaji Akinyemi appealed led to the delegates to give the Chairman an opportunity to explore the Adeola’s recipe as that holds the key to breaking the deadlock in the matter.

“Give him an opportunity to relate with the leadership of the delegations and he may be able to reach a consensus with them, “ Akinyemi said.

It was at this point that Kutigi adjourned the debate on the controversial subject.

The leaders of the six geo-political zones at the conference would now be

consulted by the principal officers of the conference in order to break the deadlock in the preferred voting formula which was shifted after lunch break yesterday.

The zonal leaders are Gen. Ike Nwachukwu (South-East), Chief Edwin Clark (South-South), Chief Olu Falae (SouthWest), former Inspector General of Police, Ibrahim Cooasie and Prof.

Jerry Gana for the northern block.

Leaders of other groups other than the geo-political zones would be consulted. They are to deliberate on the various option being canvassed by different group in order to arrive at an acceptable formula for making decisions at the conference.

Proceedings turned chaotic again yesterday as groups took entrenched positions.

6

NEWS

Wednesday, March 26, 2014

photo news

Mark canvasses capital punishment for insurgents Chukwu David Abuja

T L-R: Director, Government Relations, P&G Nigeria, Temitope Iluyemi; Head, Dentistry Division, Federal Ministry of Health, Dr. Mrs Bimpe Adebiyi; and Brand Operations and Integration Manager, Oral B, Titi Adetunji at the Ministry of Health World Oral Health Day Conference in Abuja.

L-R: Emir of Zazzau, Alhaji Shehu Idris; Kaduna State governor, Mukhtar Yero and Kaduna State Commissioner for Chieftaincy Affairs, Alhaji Nasir Damau, during the State’s Traditional Rulers Council meeting in Kaduna …yesterday.

hose who kill deserve to be killed, Senate President, David Mark, declared yesterday while commenting on the insurgency currently plaguing the country.

Mark added that though the menace appeared intractable, the Federal Government was determined to overcome it.

Addressing the Federation of Muslim Women’s Associations in Nigeria (FOMWAN), who paid him a protest visit in his office to register their concern over the unabating insurgency in the country, Mark condemned killings in the name of religion as totally unacceptable.

“My faith does not accept capital punishment,

Armed men kidnap businessman’s parents in Bayelsa Chris Ejim Yenagoa

P L-R: Zonal Coordinator, Lagos, National Health Insurance Scheme (NHIS), Nasir Ikahor; Executive Secretary, Dr. Femi Thomas, Chief Executive Officer, Bufferzone Limited., Akin Fadeyi , and Assistant General Manager, Media, NHIS, Mr. Ayo Osinlu, during a Talk-show on National Health Insurance Scheme in Lagos…yesterday.

PHOTO: GODWIN IREKHE

arents of a prominent local businessman, Pa and Madam Joel Kido, were yesterday abducted by gunmen in the fishing community of Konga Bayelsa State.

New Telegragh gathered that the gunmen, numbering about eight, invaded the home of the

aged couple at about 11pm startling them from sleep.

Pa Kido, however, managed to escape from his abductors on the way to an unknown destination.

Though some members of the community are, however pointing fingers at some aggrieved workers of the businessman.

A source told New Telegragh that the ab-

napping and armed robbery go on in other parts of the country.”

He assured his guests of the National Assembly’s commitment to bringing back peace to the nation, noting that there was no day in the plenary when issues of peaceful co-existence of the citizens were not given prominence in debates.

“All of us have roles to play--- not only the elected and the Armed Forces. Government needs our cooperation in order to bring succor to our dear nation", Mark declared.

He thanked FOWMAN for taking the bold step to speak out and condemn the insurgency and insecurity across the nation saying, “truth must be told and the earlier you say it the better.”

duction of the couple may not be unconnected with the rising issue of insecurity and poverty in the state.

The source however confirmed that no contact has been established with the gunmen as at press time.

Police authorities confirmed the abduction, saying two suspects linked were now in their custody in Yenagoa.

The spokesman of the State Police Command, DSP Alex Akhigbe, said efforts were on to locate and free the victims.

‘Tunde Fowler remains LIRS chairman'

E

L-R: Co-Founder Branzuk Gold Limited, Mr. Lexy Mojo-Eyes; President, Branzuk Gold Limited, Dr. Merit Gordon Obua; Culture and Tourism Minister, Chief Edem Duke and the Chairman, World Fashion Week, Paco De James at a meeting on the preparations for the African Fashion Week to be hosted by Nigeria at the Minister's Office, Abuja…yesterday

but as an individual I believe that if you kill, you should be killed as well.

We are as pained as you are; I think there is no one who is not feeling the pain. In those days, you could travel anytime, anywhere. Any village you went to, you were always welcome and secure. But today, the reverse is the case. We must rise up and collectively condemn this dastardly act in our society.”

The Senate President commended the military for their efforts so far while reminding Nigerians of the need to be watchful and support the government in the quest to end the insurgency.

Mark added that there was need to win the heart of all and sundry in curbing all forms of insecurity, saying, "Besides insurgency, kid-

xecutive Chairman of the Lagos State Board of Internal Revenue and Chief Executive Officer of the Lagos State Internal Revenue Service, Mr. Babatunde Fowler, has not resigned his appointment, the agency has said.

In a statement made available to New Telegraph, the LIRS said Mr. Fowler remains the Board's chairman.

"The Lagos State In-

ternal Revenue Service has, in the past few days, been inundated with inquiries on the purported resignation of the executive chairman of the LIRS, Mr. Babatunde Fowler. This, we believe is based on several false publications, especially in the social media.

"The LIRS wishes to place on record that this is not correct. Fowler has not resigned his appointment as the Executive

Chairman of the LIRS. He remains in office and continues to serve the people of Lagos State in his designated position.

"Fowler's purported resignation started as a rumour on online media but has gained traction in some formal publications.

"We hope this formal clarification will lay to rest speculations surrounding Fowler's position," the statement said.

NEWS

Wednesday, March 26, 2014

7

Protesters storm ECA conference Abdulwahab Isa Abuja

M L-R: Executive Editor, The Economist, Daniel Franklin; Special Representative on African Affairs, Ministry of Foreign Affairs, People’s Republic of China, Ambassador Zhong Jianhua; Deputy Assistant Secretary, Bureau of African Affairs, US Department of State, Bisa Williams and Group Managing Director/CEO, First Bank of Nigeria Limited, Mr. Bisi Onasanya, during the 2014 Nigeria Summit held in Lagos…on Monday.

N11.5bn The internally generated revenue of Kaduna State in 2012 Source: National bureau of Statistics

ELECTION

PDP governorship aspirants allege APC is enjoying stolen mandate Onyekachi Eze ABUJA

T

wo aspirants to the Osun State Government House on the platform of the Peoples Democratic Party (PDP) yesterday predicted that the party will wrest power from the ruling All Progressives Congress (APC) in the state.

The aspirants, a former Deputy Governor of old Oyo State, Senator Iyiola Omisore and the first executive Governor of Osun State, Isiaka Adeleke, who

Ahmed Miringa Maiduguri

S

uicide bombers, suspected to be Boko Haram members, yesterday killed five policemen and three civilians in Borno State.

The suicide bombers, in separate Golf saloon Volkwagen cars loaded with Improvised Explosive Devices (IEDs) rammed into a Police Highway patrol vehicle and in another incident rammed into civilians.

New Telegraph learnt that one of the suicide bombers who was on

11.5

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

87.3%

The female percentage of internet users in United Kingdom in 2012 Source: Itu.int

Osun 2014: Omisore, Adeleke predict doom for APC were at the PDP National Secretariat to submit their nomination forms, said APC is ‘enjoying a stolen mandate it got by the default of the judicial system.’

Said Senator Omisore; “I disagree with the position that the South-West is composed of APC states. The states are not APC states; they came to the zone through the back door. We contested the court decisions; I can assure you that the PDP will win in the zone pants down.

“The man who forged police records for APC is facing prosecution here

in Abuja so, the issue of APC is a foregone conclusion."

Omisore said the inability of the Rauf Aregbesola administration to commission any project almost four years into his tenure is a classical case of a failed government.

“In Osun State, there is no project completed in the last four years; the government has not paid workers salaries in the last three months. There is nothing to show for governance in Osun in the last four years,” he said.

Omisore, who said he will make education his cardinal policy if he

wins the August 9 governorship poll, described as shameful, the reclassification of schools in the education sector in the state.

He argued that the intention was to break the secularity of the people in the state and create division in the families that had hitherto remained secular.

Adeleke said; “What I was able to achieve in just 22 months, Aregbesola has not been able to do in four years. As I speak with you, what I achieved then, nobody has been able to do half even with all the resources available to them.

Suicide bombers kill five policemen, others in Borno twin blasts his way to Maiduguri from the Sambisa forest detonated the explosives around Government Farms, about 20 kilometers from Maiduguri killing three civilians and himself. Many other civilians were injured.

The second car rammed into a police patrol vehicle near Dalori Housing Estate killing five policemen along with three suicide bombers.

The incidents which took place almost simulta-

neously around 9 O'clock in the morning, threw residents into panic with parents and guardians in the Bama road axis rushing to schools to bring home their wards.

Immediately after the blasts, men of the 7 Division, Nigerian Army, a combined team of mobile policemen and vigilance youths (a.k.a Civilian JTF) mobilized to the scene of the blasts and cordoned off the area to prevent further attacks.

Unconfirmed report had it that several terrorists fleeing from their camps in the Sambisa Forest were infiltrating Maiduguri and its environs.

A police Public Relations Officer, DSP Gideon Jubrin, confirmed the incident to newsmen in Maiduguri on phone, noting that five policemen attached to the Federal Highway Patrol team, three civilians including the suicide bombers died in the incidents.

embers of a civil society group, Action Aid, who were kicking against tax incentives to foreign multinationals yesterday, took their protests further to the Transcorp Hilton Hotel, venue of the seventh joint annual meeting of the African Union-Economic Commission for Africa conference.

The protesters, carrying placards of various inscriptions, asked the government to halt granting incessant taxes to multinationals.

Some of the inscriptions read thus; “Build up Africa;” “Turn down harmful tax incentives” and “Unrestrained tax

incentives kill economy.”

The protesting Action Aid members sealed the gate to the main congress at the Transcorp Hilton Hotel, venue of the meeting.

Speaking with journalists, Donald Ideh, Tax Justice Adviser for Action Aid, said granting frivolous tax holidays ranging from 25 years upward to foreign firms is not only harmful, but also denies the citizens of improved living standard.

“It is not about the companies, it is about our own government stop giving out these taxes. They should use these monies to give us good road, fund our education sector and improve our health sector,” he said.

Ekiti 2014: LP confirms Bamidele Adesina Wahab Ado-Ekiti

E

kiti State chapter of the Labour Party (LP) yesterday ratified the candidature of Hon. Michael Opeyemi Bamidele as the party's candidate for the June 21 governorship election in the state.

The party pronounced Bamidele its candidate at a special congress held at Ajaleye International Civic Centre, Ado-Ekiti, an event which was attended by some national

leaders of the party led by the Deputy National Chairman, Hon. Joseph Akinlaja and officials of the Independent National Electoral Commission.

Four hundred and forty-four accredited delegates drawn from across the 16 council areas ratified Bamidele in a thunderous proclamation in line with Article 24 of the party's constitution, which prescribes the methods of voting at any meeting.

Northern govs vow to identify sponsors of Boko Haram Lateef Ibrahim Abuja

G

overnors of the 19 Northern states have resolved to identify the culprits and sponsors of the Boko Haram insurgents and other insurgencies in other places.

They Governors have also frowned at the 52 percent of the Federal Allocation accruing to the Federal Government, describing it as too much.

Rising from an emergency meeting yesterday in Abuja, the Northern

Governors mandated each of the States in the North to establish security trust Funds in their States for the purpose of fighting the Boko Haram menace.

According to the communique issued at the end of the two-hours meeting, signed and read by their chairman and Governor of Niger State, Dr. Muazu Babangida Aliyu, the Governors encouraged member states to articulate a coordinated approach towards fighting insurgency in the North.

8

ACROSS THE NATION

Wednesday, March 26, 2014

Abuja

DELTA

NIGER

abuja

Warri

Minna

Reps set to create revenue board for FCT The House of Representatives yesterday commenced consideration on the Bill for the establishment of a Federal Capital Territory Internal Revenue Service for Abuja.

The 14-clause report was considered by the House at its resumed plenary presided over by the Deputy Speaker, Hon. Emeka Ihedioha.

The Revenue Board

is charged with powers to assess, collect and account for revenues that would be due to the FCT. The Bill, titled "An Act to establish the Federal Capital Territory Board of Internal Revenue and for other matters connected therewith," is sponsored by the House Committee on FCT, headed by Hon. Emmanuel Jime (APCBenue).

ABUJA ABUJA

Immigration job disaster: CNPP threatens mass action The Conference of Nigeria Political Parties (CNPP) has threatened to mobilise hundred of thousands of Nigerian youths defrauded in the ill-fated recruitment into the Nigeria Immigration Service (NIS) and the

civil society groups for mass action until justice is done on the matter.

CNPP in a statement by is Secretary General, Chief Willy Ezeugwu in Abuja yesterday, also called for the immediate sack and prosecution of the embattled Minister of Interior, Comrade Abba Moro.

Navy denies aiding, abetting oil thieves

FG trains 100 women on rice processing

The Nigerian Navy yesterday in Warri, Delta State, denied that it was aiding and abetting oil thieves in the Niger Delta Region.

Commander of NNS Delta, Navy Capt. Musa Gemu made the strong denial yesterday, following allegations by a faction of feuding Ugborodo Community executives that oil theft was the reason crisis had persisted in their domain.

Spokesperson for the Chief Thomas Ereyitomi faction, Alex Emeyengho, had told New Telegraph that when illegal oil theft became too rampant in Delta, Bayelsa and Rivers States, the Federal Government had constituted a committee, headed by Governor Emmanuel Uduaghan to find a way out to end oil theft in the Niger Delta.

The Federal Ministry of Agriculture and Rural Development yesterday said it was collaborating with National Cereals Research Institute (NCRI) to train 100 women in five states across the country on rice processing and packaging.

Inaugurating the fiveday training workshop at the NCRI, Badeggi, Niger State, Permanent Secretary Federal Ministry of Agriculture and Rural Development, Mrs Ibukun Abimbola, said the idea was to ensure self-sufficiency in rice production of the country by 2015.

Abimbola who was represented by Mrs Karim Babangida, Deputy Director, Head Gender and Youth with the ministry, said the measure would assist in tackling unemployment among youth and women and also create wealth to boost the economy.

ABiA

LAGOS

Umuahia

Ikeja

Orji condemns attack on Mark Governor Theodore Orji of Abia State has condemned the attack on the convoy of Senate President, David Mark over the weekend by unknown gunmen on his way to the burial ceremony of the father of Peoples Democratic Party chairman in Imo State, Barr. Nnamdi Anyaehie, Mr John Richard Anyaehie in Nkwerre, Nkwerre Local Government Area of Imo state.

Orji who described the attack as uncalled for because of the personality involved, called on the security agents in the country to investigate the incident properly and apprehend the people involved in the incident and bring them to book.

69.4%

The male percentage of internet users in the United States of America in 2011 Source: Itu.int

1,269m

The number of individuals using the internet in the Asia & Pacific region in 2013 Source: Itu.int

N7.3bn

The internally generated revenue of Kwara State in 2010 Source: National Bureau of Statistics

ABUJA ABUJA

Fg arraigns operator of illegal university

L-R: Managing Director, UACN Property Development Company (UPDC) Mr. Hakeem Ogunniran; Oyo State Governor, Senator Abiola Ajumobi; Finance Director, UPDC, Mrs Shade Ogunde and Technical Director, UPDC, Mr Brian Greenaway during the groundbreaking ceremony for UPDC's Olive Court Estate in Agodi,Ibadan…yesterday.

RIVERS

BENUE

Port Harcourt

Makurdi

NEMA trains 800 corps members The National Emergency Management Agency South-South Zonal office , Port Harcourt said yesterday that it has trained over 800 corps members in the zone in emergency and disaster control and management.

NEMA Zonal Co-ordinator , Mr. Umesi Emenike who disclosed this to New Telegraph in Port

Harcourt, said that the training program which was initiated by the Agency which was aimed at using NYSC corps members as disaster vanguards and for proactive disaster management in the country began from March Tuesday 18- March to Friday, 21st March 2014, in the six states in the zone comprising Akwa Ibom, Bayelsa, Cross River, Delta, Edo and Rivers.

Fulani herdsmen: Rep wants of more troops for Benue Deputy chairman, House of Representatives Committee on Poverty Alleviation, Hon. Oker Jev (APC, Benue) has called on the Federal Government to deploy more troops to Benue State to check the renewed attacks on villagers by suspected Fulani herdsmen.

Jev, who made the call yesterday, (APC-Benue) lamented that the attacks

had taken a frightening dimension, warning that if additional troops were not sent to quell the crisis now; it might snowball into a full blown war. He said "As a palliative measure the Federal government should send in enough security to take care of the people, and then we can begin to think of the long solution to the problem we have on out hands," he said.

The Federal Government through the Independent Corrupt Practices and other Related Offences Commission ICPC yesterday arraigned one David Iornem before a Federal High Court sitting in Abuja for operating illegal universities.

Joined alongside Iornem in the suit are Island Open University and Commonwealth University Inc. The anti-graft commission had in August arraigned Iornem before the same court. However, the commission later slammed a fresh 14-count charge on the accused person bordering on operating of illegal university.

63.2m Nigerians lack access to clean drinking water Despite that 63.2 million Nigerians (39% of the population) are not having access to clean drinking water and 112.7 million (69% of the population) are going without basic access to sanitation, only paltry $1.26million has been received as aid for each person on average between 2010 and 2012.

A startling new report, Bridging the Divide, released by the international development charity WaterAid on the World Water Day has revealed.

Decrying the poor funding, the report pointed out that international water and sanitation aid is failing to reach those in greatest need, exacerbating global inequalities rather than reducing them.

“Overall, Nigeria has received on average $205.41 million per year in water and sanitation aid, for the years 20102012,” the report from WaterAid said.

ANAMBRA Awka

Obiano sets to revolutionise agric Governor Willie Obiano of Anambra State has set up a Committee on Agriculture to revolutionize food production in the state and fast-track one of his four pillars of economic development contained in his campaign blueprint.

Inaugurating the Committee on Agriculture in Awka, the state capital, the governor challenged its members “to produce a comprehensive agricultural blueprint with holistic recommendations, highlighting medium and long term targets that would eventually lead to sufficiency in rice, maize, cassava and poultry production in Anambra State”. The committee has two weeks within which to submit its report. He told the committee headed by Professor Emeka Omaliko that Anambra was blessed with many hectares of arable land.

NEWS

Sanctity of Truth

Wednesday, March 26, 2014

CORRUPTION

For allegedly awarding contracts without due process, EFCC invites tribunal chief

Emmanuel Onani

T

he Economic and Financial Crimes Commission (EFCC), will tomorrow, interrogate the Chairman of the Code of Conduct Tribunal (CCT), Justice Danladi Yakubu Umar, over allegations of corruption.

The expected appearance of Justice Umar at the EFCC's head office in Abuja for questioning, was confirmed by the EFCC's spokesman, Wilson Uwu-

Corruption: EFCC to quiz Conduct Tribunal chairman jaren, in a brief telephone chat with New Telegraph in Abuja, yesterday.

While revealing to the planned interrogation of the CCT chairman, Uwujaren said,"I can confirm to you that there is an invitation to that effect."

Speaking in a similar vein, a highly-placed source at the Tribunal headquarters in Abuja who craved anonymity, because he was not authorised to make official comments, said the chairman

would definitely honour the anti-graft agency's invitation.

He said, "Yes, he (CCT Chairman) will be at the headquarters of EFCC on Thursday, to tell operatives all that he knows concerning allegations made against him by some persons."

He went further to state that "the chairman had previously appeared before the National Assembly on similar unsubstantiated allegations. He might

not say anything different from the explanations he offered before federal lawmakers."

New Telegraph was reliably informed by a dependable source in the EFCC, that Justice Umar's invitation, is not unconnected with a petition written to the commission by some aggrieved staff of the tribunal, who said, that the Honourable Chairman indulged in awarding huge contracts, without

following due process.

"The petitioners also alleged that he has little or no regard for the federal

POLITICS

Promises to build on the existing legacies of the incumbent governor

Umuahia

T

L-R: Factory Manager, Fidson Healthcare Plc, Mr. Akinloye Oyegunju; Operations Director, Mr. Abiola Adebayo; Group Quality Manager, Mr. Olayinka Amoo and Lead Consultant, Fidson Project, Mr. More Rangnath; during a Media Facility Tour of Fidson Healthcare's new Biotech Plant at Sango Ota, Ogun State. ..yesterday.

PHOTO:SULEIMAN HUSAINI

N7.51bn 29.8 The IGR realised from direct assessment of Lagos State in 2010.

Source: National bureau of Statistics

The number of individuals using the internet per 100 inhabitants of Arab States in 2011.

Source: Itu.int

14.1 The number of fixed (wired)-broadband subscriptions per 100 inhabitants of Americas in 2010 Source: Itu.int

F

ire yesterday gutted the Central Bank of Nigeria (CBN) Lagos branch office on Broad Street, destroying properties worth millions of Naira.

This was even as the Mobile policemen from Lion Building, on Lagos Island, maltreated journalists and smashed cameras of a National Mirror journalist, Yinka Adeparusi for daring to take photograph of

and was put out by a combined team of fire fighters from the apex bank and other institutions.

“We wish to assure our numerous stakeholders that the records of the Bank are intact, as the Bank has an effective backup of all its records, as per our disaster recovery infrastructure,” the statement added.

A visibly overwhelmed official of the fire service also collapsed at the scene of the raging fire. He was

said to have been suffocated by the smoke. He was later rushed to the hospital.

Adeparusi was, however, arrested by the police and taken to the Lion Building Police Station.

The fire which started from the ground floor of the building later spread to other parts with thick smoke billowing from the scene.

According to NEMA spokesperson, Mr. Ibrahim Farinloye, the fire started from the ground.

come to tell my party that I have decided to contest for the governorship seat.

I am joining the race after praying, and consulting with my family, relatives, friends and supporters, and I have the confidence that my party would support my aspiration''.

She said that she came to solicit for her people’s blessings and support. “I want you to x-ray my antecedents and achievements since I went to the National Assembly and make your assessment.

The position I occupy today is through the people and my party (PDP). That is why I have come back to inform you, because the party is supreme and important.

I want to say that without the support of the party, I won’t be able to achieve my aspiration."

Osun Speaker’s aide shot dead by colleague Adeolu Adeyemo

O

• Police smash cameras, arrest journalist at scene the scene.

President of Photo Journalists Association of Nigerian, PJAN, Mr Ademola Akinlabi who also works with National Mirror also had cameras smashed by the overzealous policemen at the scene.

The CBN, in a statement issued yesterday and signed

by Isaac Okorafor, for Director Corporate Communications Department, explained that the fire started at about 5:30pm on the ground floor

he senator representing Abia Central Senatorial District at the National Assembly, Senator Nkechi Nwaogu, has formally made public her intention to vie for Abia State gubernatorial seat on the platform of the Peoples Democratic Party (PDP) in the 2015 general election.

Senator Nwaogu made known her intentions at the party's secretariat in Umuahia, the state capital, when she visited the state executives of the party over the weekend.

She said "today, I have

Osogbo

Fire guts CBN Lagos office

character principle on appointments," the highlyregarded source told New Telegraph.

Senator Nwaogu eyes Abia Govt House

Ikechukwu Ucheoma

Muritala Ayinla

9

ne of the security operatives attached to the Speaker of the Osun state House of Assembly, Hon Najeem Salaam was last Saturday mistakenly shot to death by one of his colleagues in a bid to rescue him from a riotous crowd.

The deceased, simply identified as Olugbenga Bunmi, was said to have been shot dead at Ika-Ejigbo in Ejigbo Local Government area after a coronation and presentation of staff of office to the traditional ruler of the town by the state government.

New Telegraph investiga-

tions revealed that trouble started when, after the ceremony, people of the town organized a party to felicitate with the newly crowned king.

It was gathered that the Speaker, who hails from that local government reportedly left the dancing scene for his home town in Ejigbo with one of his aides on the night of the incident.

But, not quite long after the Speaker left, pandemonium allegedly ensued at the party, and one of the security operatives still at the party, made a phone call to the aide that was with the Speaker to come and prevail on some riotous people, as he was having a gun with him.

10 NEWS

Sanctity of Truth

Wednesday, March 26, 2014

Olubolade rejects Ekiti PDP primary GOVERNORSHIP

Candidate calls for outright cancellation of party primary

Adesina Wahab Ado-Ekiti

F

ormer Police Affairs Minister, Navy Captain Caleb Olubolade (rtd), yesterday

spoke on last Saturday's Peoples Democratic Party governorship primary, faulted the exercise and called for its cancellation.

According to him, the exercise that produced former Governor Ayo Fayose as the party's candidate for the June 21 election in the state, was fraught with irregularities.

In a statement in AdoEkiti yesterday by the Olubolade Campaign Or-

ganisation and signed by the Secretary, Mr Remi Osabusua, the group called on the leaders of the party to cancel the exercise.

The group noted that after a careful study of all the events that led to the special state congress on Saturday, it was convinced to that it fell short of acceptable standard.

Among the reasons given by the group for the rejection of the result of

the congress was that it was manipulated to favour Fayose.

"That the whole exercise was clearly manipulated from Abuja in favour of only one aspirant, that is former Governor Ayo Fayose. All other aspirants were shut out and election materials made available only to him, thereby turning the event into one aspirant show," the statement read.

The group also ex-

Senate Presiden, David Mark (left), receiving a petition documents from the Leader of the Federation of Muslim women’s Association in Nigeria, Hajiya Hadija Suleman during their courtesy call to the Senate president in Abuja… yesterday

Group faults Anyanwu over Wike’s guber ambition Charles Onyekwere PORT HARCOURT

E

tche People’s Liberation Congress (EPLC) in Rivers State, has faulted the decision of Prince Emma Anyanwu by endorsing the Minister of Education, Chief Barrister Nyesom Wike to contest for the governorship in the state, come 2015.

This was contained in a statement issued in Port Harcourt yesterday, duly signed

by Mr. Japhet Ogbueri and Hon. Prince S.A.Onyeche, National Leader and Principal Informational Officer respectively. They vociferously refuted the romance of the political infraction and distraction in form of a media statement credited to Anyanwu.

The release noted that the statement was selfishly manufactured and fabricated by Emma Anyanwu within the confines and comfort

of his Abuja abode, without recourse to proper consultation of Etche people. According to the statement, “there has never been any gathering or meeting of Etche people where such sensitive political alignment was discussed. And our respected elder statesman is not authorized, mandated, delegated or assigned to make such provocative statement on behalf of Etche people as a distinct and dissimilar ethnic group,” the state opined.

It further stated that what the elder statesman would have done was to lend his voice on the exclusion of Etche people from the ongoing National Conference, prolonged political marginalization of the people, the petrifying decay of the health sector and road infrastructures and issues that had to do with the people’s clamour and conquest for the senatorial seat.

Nigeria loses N50.4bn as Shell's shutdown of Forcados enters Day 21 Adeola Yusuf

N

igeria yesterday lost a lump sum of N50.4 billion ($315 million) as the shutdown of 150,000 barrels per day capacity Forcados line by Shell entered Day 21.

Shell, Nigeria's largest oil producer, at the same time yesterday told its global customers that it would not be able to meet its contractual obligations on lifting of this Forcados blend, where it shut in a cumulative of 3.15 million barrels of oil since March 4, 2014.

Royal Dutch Shell had earlier said it closed all fields feeding into the Trans Forcado Pipeline, affecting about one-hundred-and-thirty-thousand barrels per day.

Shell's subsidiary in Nigeria, Shell Petroleum Development Company (SPDC) said

this in a statement by its spokesperson, Precious Okolobo.

The company, which made this known through a force majeure it declared on the crude oil lifting yesterday, stated that the majeure takes effect from 09:00hrs.

"SPDC Joint Venture declared force majeure on lifting of Forcados blend effective 09:00hrs (Nigerian time) Tuesday, March 25, 2014, due to ongoing repairs on the 48-inch crude export line at Forcados Terminal in the Western Niger Delta," the statment read.

The subsea line was shut, according to Okolobo, when a leak was discovered on March 4, 2014, leading to suspension of SPDC and third party crude oil exports through the terminal.

"Helicopter overflights showed a slight sheen around the export line.

plained, the level of fraud was such that the State Chairman, Mr Makanjuola Ogundipe, and some other members of the State Working Committee did not show up at the event.

It then wondered where the organisers got seven votes Olubolade reportedly got when his delegates were shut out of the exercise.

"From these ugly events, it is now clear that our President and leader of our great party has now been vindicated by his advice that in order to avoid this kind of avoidable crisis, the consensus option should be adopted as was done in the Ondo governorship election in 2013," the group added.

The group suggested that if the primary option would still be used

in picking the party's candidate, an amendment should be made to the whole process. "We suggest that the idea of three ward delegates be discarded as this is the root-cause of the problem. Instead, only constitutionally elected party executives- ward, local government and state should be used as was done during the last Senatorial/House of Representatives primaries in 2011.

"They will now be joined by the 318 automatic delegates recognised by the party's conthe group stated." The group also suggested that a new primary could be conducted at a neutral ground, preferably in Abuja for thorough job to be done. It expressed confidence that the PDP would win the election if the right thing is done.

...Fire guts party secretariat l Party thanks GEJ on congress Adesina Wahab Ado-Ekiti

A

part of the Peoples Democratic Party (PDP) Ekiti State Secretariat in Ajilosun area of Ado-Ekiti was in the early hours of yesterday set on fire by some suspected arsonists. Eye-witnesses said some people were seen at about 5:35 am, climbing the staircase to the second floor of the storey building.

They reportedly broke into the office of the state chairman and set it on fire. However, the suspicious movement of the arsonists led people living nearby to raise the alarm.

The arsonists fled the scene and the timely intervention of sympathisers led to the putting out of the fire before much damage could be done.

Armed policemen have since cordoned off the area.

No official of the party agreed to comment on the

development, saying they would want the police to do their job.

The Police Public Relations Officer, Ekiti State Command, Mr. Victor Babayemi, while commenting on the matter, said no arrest had been made as at press time. He said his men were already looking into the matter. Meanwhile, the state chapter of the PDP has commended party members and leaders for their participation in the recently-concluded state congress.

In a statement by the State Secretary, Dr Tope Aluko and the Publicity Secretary, Pastor Kola Oluwawole, the party appreciated those who took part in the exercise and urged them to go all out to ensure victory for the party, come June 21 governorship election. The party specifically thanked President Goodluck Jonathan and members of the National Working Committee of the party for their exemplary leadership style.

NEWS

Sanctity of Truth

Wednesday, March 26, 2014

11

Ekiti 2014: APC ticket still open, says Fayemi’s campaign group Adesina Wahab Ado-Ekiti

A

member of the House of Representatives, Bimbo Daramola, who is also the Director-General of the Kayode Fayemi Campaign Organisation, has said that the ticket of the All Progressives Party (APC) is still open for any interested aspirant.

Speaking with reporters in Ado-Ekiti yesterday, Daramola said the fact that his principal had collected the APC nomination form did not preclude any other person from seeking the party's ticket.

According to him, Fayemi would still be

regarded as an aspirant until the party chooses its candidate on April 12 at a special congress of the party.

“Dr. Kayode Fayemi has collected our party's nomination form and has thrown his hat into the ring. He is still an aspirant in the party until our special congress is held.

We are working for him because we believe he is the best man for the job.

“Anybody who feels he/ she wants to challenge him can throw his/her hat into the ring. Our party is democratic and we don't kill people's dreams and ambitions, but we don't also condone indiscipline,” he said.

Power sector privatisation will succeed – Sambo Anule Emmanuel

V

ice-President Namadi Sambo has assured that the Federal Government has put in place all needed measures to ensure success of the power privatisation process.

The Vice President stated this yesterday at the presidential villa when he met with the Senate Committee on Privatization, led by its Chairman Senator Olugbenga Obadara who paid him a working visit in his office.

The Senate Committee on Privatization had raised concerns over the capability of the new owners to achieve the

desired result envisaged by government and other sundry issues which were subject of the interactive session.

Also present at the meeting were senators Emmanuel Afuariavwado, Gilbert Nnaji, Adamu Ibrahim, Abubakar Tutare, Atai Aidoko Ali and Ibrahim Gobir with the Director-General Bureau for Public Enterprises, Benjamin Dikki.

The vice president, who expressed delight with the new initiative of crossfertilization of ideas, used the occasion to explain to the Senate the efforts of government in the entire privatization exercise.

Equity Charter: Orlu leaders back Owerri for Imo governorship Steve Uzoechi OWERRI

F

or mer Imo State Commissioner for Information and Strategy, Nze Elvis Agukwe, has said that notable leaders and stakeholders in Orlu senatorial zone have agreed that the zone will not field any governorship candidate in the 2015 governorship election ensure that

the candidature of an Owerri zone indigene as the next governor of the state is realised.

Agukwe, an Orlu indigene and National Coordinator of Imo Stakeholders’ Forum, which is canvassing the full implementation of the Imo Charter of Equity, said it was only natural for Orlu to back Owerri zone for the governorship next year for justice and equity.

L-R: Minister of Environment, Mrs. Lawrentia Laraba Mallam; Minister of Agriculture, Akinwumi Adesina; Director General, National Orientation Agency (NOA), Mike Omeri and the Permanent Secretary, Ministry of Environment, Taiye Haruna, during a press conference on Grazing Reserve held at the State House Abuja… yesterday.

PHOTO: TIMOTHY IKUOMENISAN

1,204m 251m The number of fixed-telephone subscriptions worldwide in 2011 Source: Itu.int

The number of fixed (wired)-broadband subscriptions of Asia & Pacific region in 2011 Source: Itu.int

N14.6bn The internally generated revenue of Oyo State in 2012.

Source: Itu.int

Elumelu joins Delta guber race, to commission N1.2bn project ELECTION

Delta's governorship ranks swell by more aspirants Biyi Adegoroye

C

hairman, House Committee on Health, Hon. Ndudi Elumelu, has joined the Delta State governorship race.

Elumelu announced his intention to contest the governorship seat on Monday while speaking

on the various development projects he has executed in the last seven years in the National Assembly.

The lawmaker is also billed to commission soon, the N1.2 billion medical facility he attracted to Delta North federal constituency.

Elumelu, who said he would be contesting on the platform of the Peoples Democratic Party (PDP), said his passion for the people propelled his interest in trying to serve the people of the

state at the highest level.

He said his activities in the last seven years as well as the various constituency projects he has executed in the 42 wards of Aniocha North would speak for him and stand him in good stead for the tasks ahead.

Elumelu said he has also sponsored many bills, including the National Health Bill, which will serve as a regulatory system for the nation’s health institutions and also the National Insurance Commission Bill,

which seeks to guarantee every Nigerian access to healthcare.

He also alluded to his investigation of the $16 billion investment in the power sector some years ago, wherein he discovered that over $13 billion of the sum was mismanaged. He said his recommendations included the splitting of the old Power Holding Company of Nigeria (PHCN) into power generating, distributing and distribution companies.

NIS recruitment tragedy: Academy of Science commiserates with victims’ families T he Nigerian Academy of Science (NAS) has commiserated with the families of those who lost their lives in the Nigerian Immigration Service (NIS) job recruitment exercise penultimate Saturday, saying that the tragedy was avoidable.

President of the Academy, Professor Oyewale Tomori, who was condol-

ing with the bereaved families and those who were wounded in the tragic incident yesterday, prayed God to console and comfort the families and healed the wounded.

Tomori, who acknowledged that the rate of unemployment has increased steadily from 5.8 percent in 2008 to 23.9 percent in 2012, said this is indicative of the grim and

dreadful state of unemployment in the country.

He said it was this deplorable situation that led to about 700, 000 Nigerians applying for about 5, 000 job positions, according to him, an average of 140 applicants scrambling for one job position.

The Academy said unemployment is not the only challenge facing Ni-

geria; it said issues such as insecurity, corruption, unstable and unreliable power supply, also constitute some of the other challenges facing Nigeria.

Alluding to the role science and technology can play in the development of a country; Prof.

Tomori gave examples of the Asian tigers and how they were able to turn their economies around.

metr

NEW TELEGRAPH

Wednesday, M

www.newtelegraphonline.com/metro

Ibad ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

0802 393 8212

Wednesday, March 26, 2014

Man caught with three human tongues in Ibadan • Three others escape being lynched ritual

Residents of Ibadan arrest suspected ritual killers

Sola Adeyemo Ibadan

A

suspected ritual killer was arrested yesterday in Ibadan, the Oyo State capital, with three human tongues.

This came a few days after a forest of horror was discovered at Soka area of Ibadan, where about 20 dead bodies allegedly killed by kidnappers were found.

The man, who appeared like a madman, was attacked by angry mob at Ring Road area of Ibadan South West Local Government.

The suspect, who was said to have been hibernating by the side of the newly-constructed bridge at Oni and Son bus stop, was said to have been perpetrating evil acts for some months now.

A witness, who spoke under condition of anonymity, disclosed that luck ran out on the middle-aged man when some residents of the area, who have been suspecting his movement, discovered his notorious act and decided to deal with him with the support of the police.

It was gathered that while searching him, more than 400 campaign posters of a “Labour Party” governorship aspirant was among the items found under the bridge where he kept his loot and dangerous weapon.

Also discovered were various bras and pants of different sizes with female clothes believed to belong to his victims.

Another witness added that

human bones and tongues were also found at the scene.

At press time, policemen at Oluyole Police station were quizzing the man.

Also, scores of people thronged the station to catch a glimpse of the man and his exhibits.

Smarting from the ugly experience and news of the Soka forest, angry people also beat to pulp another man allegedly found having in his possession two Black Berry phones and another phone, with a booklet which allegedly contained list of human parts and their prices.

He was attacked at Yemetu area of the state by mob who suspected him to be a member of those operating at Soka forest of death.

In the same vein, a man and a woman, who also appeared to be in sane and were staying close to the Muslim flyover around Odinjo area of Ibadan, escaped being lynched yesterday afternoon.

When some people in the area suspected them as ritual killers in disguise, they searched them and allegedly found a blood-stained cutlass, a white cloth, a long torch and a short gun.

When New Telegraph got to the area at 3.35p.m, there was gridlock, while many people stood on the flyover bridge.

The suspects had shortly been taken away by the police to Idi Aro police station.

“The man and woman were seized by the people, beaten so much, but they kept muttering some words of incantation.

“The people poured fuel on tyres and drenched them with it before throwing matches on it.

The petrol did not burn. Much as they were setting fire on the people, the efforts were proving abortive. It was later that the

Muhammed Ndabawa, CP, Oyo

police dislodged everybody and took the suspects away to Idi Aro police station,” a witness said.

Anti-riot policemen in an Armoured Personnel Car-

rier arrived the scene at 3.50p.m and dispersed everybody with tear gas.

When contacted, the state Police Public Relations Officer (PPRO), SP Olabisi Ilobanafor,

said the man found with human tongue was homless.

She said it was a forensic test that could confirm whether what was found on him was human tongue or not.

But Ilobanefor could not be reached later to confirm what were allegedly found on the two suspected kidnappers at Odinjo.

She earlier said the Ring Road suspect had been taken to the State Criminal Investigation Department for further investigation, noting that since the discovery of the forest of death, angry mob had been attacking suspected people.

She recalled that one person had been killed and another person rescued by the police.

The PPRO warned the public against taking laws into their hands, saying they should report suspected people to the police.

REUNION A man has id one of the vi Ibadan ritua his relative

Sola Adeyem Ibadan

I

t was a mome when one of of the kidnap habilitated at nity Teaching Ibadan was id tion.

Wale Atoye ly communica identified by a his nephew lef ago without a whereabouts.

“He was liv nal grandmot State but his eight years ag His mother w his father whe also live in Ibad at Abayomi, Ex

Imoke d

Clement Jam Calabar

T

he Cross R ment throu and Social D cy (CRS-CSDA) N470 million to various commu Beneficiarie communities in areas of the sta

Husband, wife fight in cou BRAWL

A man and wife turn court premises to extension of their home to engage in a fight Camillus Nnaji

T

here was a mild drama within the premises of Ikeja Magistrates’ Court yesterday when a man and his wife engaged in fisticuffs.

The couple, Mr Olufemi Ogbiyele and Mrs Bola Ogbiyele, took their

domestic squabble to the court premises and fought over the custody of their children. However, the court did not sit yesterday.

The wife, who was said to have left the house for many months with their children, said somebody called her to let her know that her husband had petitioned the Lagos State commissioner of police, asking for possession of their three children.

Within the court premises yesterday, a family friend called the couple, asking them to settle the issue out of court and come back together as husband and wife.

But during the peace meeting, tempers rose over disagreement between

the couple and a fight bro Counsel to the wife, Shit inde, told our correspo trouble started between th February 11, 2013.

The lawyer said there w derstanding between the c made the man to beat his w Subsequently, the woman, the layer, left for her moth Oladeyinde explained by a lawyer and a pastor to squabble failed, which ex divorce suit filed by the m The petition for divorc number ID/377HD/13, was tember 3, 2013.

According to the charg

FG paying lip-service to job creation –Odunsi / PAGE 17 | Politicising a minister’s homecoming / PAGE 43

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

ayodele Ojo

Deputy Editor, politics

Octogenarians have no business being at the confab –Fasehun

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

WEDNESday March 26, 2014

p-14-15

Reparation: Ndigbo re-open old wounds

Jonathan

Ojukwu

The South-East leaders demand for N2.4 trillion from the Federal government as compensation for the killings and rights violations of Ndigbo, particularly during the civil war. LEO SOBECHI reports

demand made than tongues started wagging with some public commentators wondering what the Igbo wanted especially given the fortuity of the national conference.

While some saw the demand as an attempt to reopen the wounds of the civil war, others saw it as a possible point of engagement to reassess the position of Ndigbo in the Nigeria project vis-à-vis the political predicament of the ethnic group.

Though former President

N

ot long ago eminent persons from Igbo ethnic stock came up with the demand for a payment of N2.4 trillion from the Federal Government of Nigeria.

They claimed that the amount was to serve as reparation and restitution for the alleged killings, rights violations, atrocities and injustices per-

petrated against them in Nigeria spanning the civil war to the Boko Haram era.

And in demonstration of the seriousness they intend to pursue the matter, Ndigbo set up a Reparation Committee and even contemplated a civil suit to press home the demand.

However, no sooner was the

CROSSFIRE All those they are spending that kind of money on are wellfed and full, those who have enjoyed the pecks and pleasures of governance. Meanwhile, the coming generations are being tormented by hopelessness –Tunji Abayomi

The amount is not too much for Nigerians to talk and find solutions to their problems. The whole N12 million alleged to be earned for three months is still less than what each member of the National Assembly receive per month -Mike Ozekhome

General of Ohanaeze Ndigbo, His Royal Majesty, Igwe Ezebuilo Ozobu, refused to be drawn into the discussion of the needfulness of the demand, he asked rhetorically, “if you get it who are you going to give it?”

But commenting on the strategy adopted by the protagonists, rights activist, Mr. Ifeanyichukwu Okonkwo told New Telegraph that “I sometime read about the pending action by some distinguished Igbo at the Federal High Court of Nigeria in Owerri judicial division.” Okonkwo contended that though he did not have the facts of the case, he is at a loss from whom they are asking the reparation. His words: “It is very important that the architects of the Nigerian civil war should be parties if they are filing such an action and there ought to be some very strong pronouncements CONTINUED ON PAGE 42

POLITICAL NOTES

Olubolade learns the hard way

F

or the immediate past Minister of Police Affairs, Navy Capt. Caleb Olubolade, it was a bitter political experience at the weekend, as his dream of becoming the next governor of Ekiti State hit the rocks with his defeat at the primaries of the Peoples Democratic Party (PDP).

The former minister had left Abuja to lead the state that prides as the Fountain of Knowledge. Even his homecoming was celebrated with fanfare and thereby raised his hope of clinching the party’s ticket.

However, he was stopped by Ayo Fayose, a former governor of the state, who had not pretended about his intention to return to the seat he vacated unceremoniously in 2006.

Not only that Olubolade lost out in the contest; the manner he was crushed showed that politics is truly an unpredictable game, as the former Bayelsa State military administrator was believed to be the anointed of President Goodluck Jonathan.

Olubolade’s intimacy with Jonathan, some say was responsible for the President’s rebuff of disapproval that trailed his nomination by some members of the Ekiti State chapter of the PDP during the composition of the federal cabinet in 2011.

But with the crushing defeat; 462 votes for Fayose and just seven votes for Olubolade out of the total 477 votes cast at the primaries, it should be clear to the former minister that politics goes beyond sitting in the comfort of the Federal Capital Territory (Abuja) and making political projections about a state hundreds of miles away.

Olubolade, like his kind (political office holders at the federal level), who abandon their respective constituents, but only to remember them when they need their votes should realise the importance of keeping constant touch with the home front.

14 INTERVIEW

Sanctity of Truth

Wednesday, March 26, 2014

Octogenarians have no business Founder of the Oodua Peoples Congress (OPC), Dr. Fredrick Fasehun and interim national chairman of the Unity Party of Nigeria (UPN), in this interview with FELIX NWANERI, speaks on the on-going National Conference, insurgency in the North-East as well as opposition by some Northern political leaders to President Goodluck Jonathan’s re-election in the 2015 elections. Excerpts: You are championing the revitalisation of the defunct Unity Party of Nigeria (UPN) founded by the late sage, Chief Obafemi Awolowo; what is the party bringing new to the polity that the existing parties have failed to offer?

The UPN is purely an ideological party; the people first. This means that UPN will be a welfarist party. In a situation whereby in our recent political history that sinners suddenly became and mingle with angels; we don’t know what ideological manifestation they will offer to the country. When you mix hot water with cold water, you get lukewarm water, which cannot make tea, and that is what we have in our polity now. The sinners of yesterday have become angels of today and sinners and angels have mixed together; what are they going to offer us?

Nigeria, the biggest black nation should be a leader in world affairs, and leadership involves a lot; you must be able to meet and overcome challenges. That is what leadership is. A leader should leave the stage as an icon and let the people feel nostalgic that he is leaving the stage. We have been unable to overcome our internal challenges; Boko Haram has become a nail in our soul for some years and it seems that the country has no answer to what is going on. If Nigeria does not know that after killing more than a thousand of her citizens, she is at war, then she will never know anything.

Over a thousand citizens of our nation have been killed, and if it is a fact that government is in place for the comfort and welfare of the governed, where is our comfort in the midst of this insecurity. Where is the convenience of the governed in this country? That is why UPN has come to introduce discipline into our national polity and to remove impunity which gives rise to corruption. There is so much impunity in this country and that is why we have not been able to fight corruption. UPN won’t stop people from becoming multi-billionaires, but they must pay their taxes; they must obey the rules.

We reviewed all the other political parties and what we saw was indiscipline, corruption, anti-people policies. It may

Those of us going into our 80s have no business being at the conference.

What recommendations are they going to come out with that would be acceptable to the present generation?

interest you to know that one of the greatest political leaders that we’ve ever had in this country was Chief Obafemi Awolowo, and even foreigners regretted that he was not allowed to lead the country. That is why those of us who know him are saying that enough is enough; that there shall now be a political party that will not only instil discipline in our polity, but democratic enough to allow everybody to unfold his or her wings. We will spread our common wealth, so that Nigerians will enjoy it. There is a lot in this country to go round and make every Nigerian to beat his or her chest and say ‘thank God I am a Nigerian.’

Will the UPN contest the 2015 elections, particularly for the presidency?

I don’t think we will contest the presidency, but we will contest all other positions.

Why is the UPN opting out of the presidency? Is it against the backdrop of the allegation that the party is being sponsored by the ruling Peoples Democratic Party (PDP) to cause crisis in the South-West, which is the stronghold of the APC? President Jonathan wants to go back to the Villa and he has been campaigning for five years now, do you want a UPN candidate to just wake up and challenge him in 10 months?

Does that mean your party will adopt him in 2015?

If they want to discuss with us; we will table our terms and if there is a consensus, why not. But nobody should attempt to water down our ideological commitment.

Do you think the president should go for a second term, given the belief in some quarters that he has not performed to the expectations of Nigerians who gave him massive support in 2011?

Let Jonathan contest for a second term; that is what the constitution says.

The moment you say he cannot contest; you are denying him of his constitutional right, and should he turn round that you must vote for him, that would be unconstitutional. So, what I stand for is: Let him enjoy his constitutional right, but let Nigerians also enjoy their own right. Nigerians have the constitutional right to vote or not to vote for Jonathan, but he has the constitutional right to contest the election.

There is the perception that Nigeria will boil if Jonathan contests the election either he wins or loses. What is your take on that?

There are only two ways; you contest to win or lose. Why is it that some people want him to lose; is it because he has not performed. Do you say that he has not done well and he is putting up lasting infrastructure; building rail from the South to the North; constructing the East-West road. I don’t want to believe that Nigerians have short memory because successive administrations bastardised the economy before Jonathan came to power.

He came in not as a magician but as a political president and he has been fixing what has been damaged. He has been able to fix in four, five years what it took previous administrations decades to destroy.

What of the single pact agreement that he allegedly signed?

I challenge those opposed to the president’s second term on the basis of the alleged single term pact with some governors to make the document public or keep quiet. A gentleman agreement should be a public document. If Jonathan doesn’t want to show us the agreement, those he signed it with should show it to us, otherwise they are liars. People have been talking about it but nobody has convinced us.

You said that Nigeria is at war with itself as a result of the insurgency by the Boko Haram sect. How do you think the Federal Government can bring it to a halt?

I don’t think that this present government is trying to fight Boko Haram. It is rather trying to work out ways to accommodate it. Like I said, the Federal Government is not even aware that the country is at war and the definition of war is when a thousand citizens of yours have been mauled by an external force.

That is warfare. But here we are; we have declared a state of emergency in the three affected states, but the states are still being governed by civilian governors; what a paradox! Can you govern under emergency using civilians?

I had expected people to say that the military should be in charge in these areas. If you fill these states with soldiers, Boko Haram will fizzle out within some weeks. And these soldiers will man our borders and make

Fasehun

it very expensive for neighbouring countries to allow insurgents to cross into our territory to destroy our human resources. It shouldn’t be allowed. Why are people crossing freely from Chad, Niger and Cameroon into Nigeria? These crossings should have been discouraged by teaching these neighbouring countries lessons they would find difficult to forget.

Nigeria, the biggest black nation in the world cannot even defend her children!

Where is the government?

You are advocating the use of force against Boko Haram, but some Northern elders have insisted on dialogue.

How do you reconcile these two positions?

About t h r e e years ago, I was one of those who said we should dialogue with the insurgents, but the more we preach dialogue, the more we lose our children and women to the insurgents.

So, for how long should we keep losing innocent Nigerians? The future of any

INTERVIEW

Sanctity of Truth

Wednesday, March 26, 2014

being at the confab –Fasehun country is a function of its youths and we are folding our hands, looking at our children being slaughtered every day. We are compromising our future. Nigeria needs to take care of her future.

The planned National Conference has finally taken off, what do you make of the exercise?

I was one of those who started the agitation for a national conference in this country, but see what is happening now. Even before the National Conference started, people, including Lagosians were already agitating their exclusion.

To be honest, I think that we should have had a pre-conference orientation before we slammed the National Conference on the people. How many of the delegates know what a confab is or have they just gone there for the money? The orientation should have been more superior to the confab, so that when the delegates get there, they will know what it takes to strengthen the unity of Nigeria. In the South-West, we have been agitating for a parliamentary system; in the South-East, there is the agitation for complete autonomy; in the South-South, there is the agitation for resource control and in the North, some people believe that power must stay in the region indefinitely.

How do we reconcile these conflicting interests?

Through the re-orientation that I just talked about. I have attended the meetings of the Southern Leaders Assembly and I know what we discussed. Such meetings should have gone on for some time, prescribed by the Federal Government and not just waking up to go to the confab. There are contentious issues and we know them, so let us be seen to be making efforts to douse these contentious issues be-

Saying that there are no-go areas is wrong.

Maybe because President Goodluck Jonathan was in a hurry; that was why he wanted the confab to last for three months, but nobody can build a nation in three months fore bringing people together for a conference. I chose to opt out of the conference because I feel that the present confab may not solve our problems.

When I saw the list of those who are at the confab, I felt that the conference should have been a thing of the youths.

Those of us going into our 80s have no business being at the conference. What recommendations are they going to come out with that would be acceptable to the present generation? Is it the Land Use Act; if you are from the South-South, are you going to accept 13 per cent from your resources? I come from the South-West; am I going to accept the presidential system as expensive and corruption prone as it is? I don’t believe that octogenarians should be at the confab; some people have even described our generation as a wasted one, so are we going to formulate a wasted constitution?

But some people like former President Olusegun Obasanjo believe that even the youths have been given the opportunity but they failed.

How old was Obasanjo when he came to our national life? How old was Chief Obafemi Awolowo when he came to our national life? How old was Bola Ige when he came to our national life? How old was Dr. Nnamdi Azikiwe when he came to our national life? Bola Ige was 26 and Papa Awolowo couldn’t have been more than 32 and we still feel nostalgic about their administration. So, why are youths of present day Nigeria being denied the opportunity the present old ones had as youths?

Does the agitation over exclusion and nomination of delegates for the confab not justify the initial argument by some stakeholders that the conference should be solely for Nigeria’s ethnic nationalities?

That’s it, because we sat down and got about 367 ethnic nationalities and subgroups, and we said that representation should be ethnically based. But some people started crying that some ethnic groups are bigger than others. They forgot that we are building a nation and now we have ended up with 492 people without the ethnic groups being adequately represented.

The issue of no-go areas; what is your take on it?

There shouldn’t be, else it is no longer a confab.

Did you take into consideration that some people would want to discuss the dismemberment of Nigeria?

Let them discuss it; give them the freedom to discuss it. Ethiopia had a constitutional conference, which one of us; Dr. Bola Onagoruwa was invited and before the conference, Ethiopia was so unstable that some parts of the country wanted to pull out – the Massai, Eritreans etc.

But after that conference, Ethiopia got for herself a beautiful constitution that those who had almost pulled out of the country came back, seeking their position back. So, saying that there are no-go areas is wrong. May be, because President Goodluck Jonathan was in a hurry; that was why he wanted the confab to last for three months, but nobody can build a nation in three months. We started the building of our nation in 1914; how much have we achieved? And you now want to build a Nigerian nation in three months; that cannot be done.

The confab is on the heels of the 2015 general elections. Don’t you envisage a situation where it could have some spill-over effects on the polls?

We are building our nation and not political parties. Nothing prevents us going on with confab and when the elections come, we stop. It may be for 30 days to have the elections and after that go back to the confab. This will throw up Nigeria as a serious country willing to build a united nation. As one of the agitators of national conference, I admire President Jonathan for giving us the opportunity to sit down together and fashion out how to build the Nigerian nation, but it cannot be done in three months.

If you are to set an agenda for the confab delegates, what would it be, taking into consideration the clamour for a new constitution, and should its outcome be subjected to a referendum or the ratification of the National Assembly?

We have been having constitutions since 1942, so I would recommend that they set up a committee to study our previous constitutions and bring acceptable clauses to the floor. We have been saying that the 1979 Constitution is good, so why must we jettison it in its entirety.

We should pick what is desirable and make use of it in the new constitution.

On what becomes of the outcome of the confab, I am of the opinion that it should be subjected to a referendum. Let Nigerians decide what they want.

Top on the agenda of the South-West is regional integration premised on a new Nigeria, consisting of a central government and six regional governments based on the current geo-political zones. How feasible is this and how will it help advance the cause of the nation?

How does the federal police advance the cause of the nation? You bring somebody from Damaturu to come and police Ajegunle in Lagos State; he is coming to the place for the first time; how does

15

he succeed in his endeavour? We have jumbled up various things just because we are talking of a central government.

The central government is desirable to keep us together but in the quest to keep us together, the centrality must be ‘regionality.’ Regionalism helped us in the past and that was why the South-West was ahead of others in terms of development. We are still driving on some of the roads built by the Awolowo government; Ore/Ondo/Akure road that was built in 1952. So, who is saying that regionalism is disadvantageous? It has become cultural to us in this country, so why are we abandoning part of our culture.

Some Yoruba leaders called for your head when you accompanied the Chief Security Officer to former Head of State, late Gen. Sani Abacha, Major Hamza Al Mustapha to Kano, when he was acquitted by the Court of Appeal of charges of the murder of Alhaja Kudirat Abiola. Do you still stand on the position that you took then?

One of the reasons I admire Al Mustapha is that he had the opportunity to rule this country when Abacha died, but he declined. When Abacha died, he summoned all the service chiefs and they were already saluting him, thinking that he had planned a coup, but he said: ‘No sirs, I had not carried out coup; the highest ranking military officer should take over.’ Who would have challenged him that night after he had disarmed all of them? That was how Gen. Abdulsalami Abubakar came to power despite the fact there were other generals who were ambitious to become head of state, and who later became his (Al Mustapha) enemies for not destroying military discipline to make them head of state.

But your position earned you the wrath of your people.

You see, not all the people see the truth spontaneously, and the mob is a democratic group but may be wrong. You can get all the market women in Lagos State to demonstrate that Fasehun should be killed at the Tinubu Square. Simultaneously they may have their right to demonstrate, but when they sit down to analyse the issue; facts may begin to emerge and before you know it, the mob becomes a democratic body because of its size and undemocratic action.

When the lower court said: “The testimonies of the prosecution witnesses although unreliable, I am convicting Al Mustapha and sentencing him to death by hanging,’ I asked: On what evidence was the judgement relied on? She said that she convicted Al Mustapha on circumstantial evidence without explaining the evidence and this is someone who was arrested 15 years earlier; who was in detention for three years without any charge brought against him. What were they doing all these years? Were they fishing for charges against him in the ocean? In the meantime, 10 panels were set up against him; what they call trial before trial and all of them absolved him of the allegations.

16 POLITICS

Alison-Madueke

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke is in the eye of the storm as the House of Representatives commences investigation of allegations of extra budgetary spending amounting to N10 billion for the maintenance of a private jet.

PHILIP NYAM reports

T

hese may not be the best of times for the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. As a minister supervising one of the most sensitive and perhaps the most important ministries in the country, she may have developed thick skin against allegations of corruption, particularly with regard to the Nigerian National Petroleum Corporation (NNPC) where money allegedly misses almost every other day. However, she is now faced with allegations directed at her, bordering on financial recklessness and wastage of scarce public funds.

Unlike in the case involving her former colleague, Princess Stella Oduah where over N255 million was involved, AlisonMadueke’s case involves billions of naira.

Of course, the report of the House investigation into Oduah’s bullet proof car scandal played a part in easing the minister out of office.

The House of Representatives last week mandated its committee on public accounts to investigate allegations of wastage of N10 billion on the arbitrary charter and maintenance of a challenger 850 aircraft for non-official use by the minister. The lower chamber arrived at this decision after adopting a motion brought

by Hon. Samuel Babatunde Adejare (APC, Lagos) who told the House that available and reliable evidence before him indicated that the minister was guilty as charged.

Speaker Aminu Waziri Tambuwal, who presided over the session, gave the committee three weeks to complete the assignment and report back to the chambers.

When the motion was presented, almost every member on the floor of the House was itching to contribute to the debate. But the Speaker was reminded

Sanctity of Truth

Wednesday, March 26, 2014

Tambuwal

Adejare

N10bn jet maintenance: Alison-Madueke faces Reps that the issue was before the Committee, so he did not allow further debate on it after the sponsor of the motion presented his facts. Members were unanimous in endorsing the ruling of the speaker that the Public Accounts Committee be given a further mandate to expedite action on the investigation to unravel the truth or otherwise of the allegations.

While leading debate on the motion, Adejare submitted that Mrs. Alison-Madueke allegedly sunk the sum of N3.120 billion into the maintenance of a private jet dedicated to the service of herself and her family. He said a break down according to facts available to him showed that the sum of 500,000 Euro was spent every month on the maintenance of the jet.

He noted that in recent times, Nigerians experienced acute fuel shortage due to “dwindling national revenue which has reduced the quality of governance and deprived the people of dividends of democracy.” The lawmaker explained that part of the money was spent on payments of allowances to the plane’s crew, hanger parking and rent based on lease agreement. He expressed “concern that an official of government could be bankrolling this wastage in the face of ever dwindling public resources which amount to a misplacement of priority, impudence and breach of public trust.”

Adejare argued that the minister’s action contravenes the Fiscal Responsibility Act “and all other laws on fiscal discipline.”

Citing section 82 (2) (b) of the 1999 constitution, he argued that the constitution empowers the National Assembly to expose corruption, inefficiency or waste in the execution or administration of laws within the legislative competence and the disbursement or administration of funds appropriated by it.

Now, the committee, which has been investigating queries from the Office of

The committee would seek to find out where the director general or managing director as the case may be, derives the authority to pay for the minister’s trips the Auditor General of the Federation to some Ministries, Departments and Agencies (MDAs) of government, would have to expedite work on the N10 billion jet maintenance bill. In other words, the issue has to be given some level of urgency because it is now in the public domain and Nigerians are eager to know the truth or otherwise of the allegations. This is given the fact that the suspended governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi was asked to step aside over allegations of financial recklesness and now another top official in government, who is said to be very close to the president has similar allegations hanging over her head.

The investigation The investigation may not begin soon as people have envisaged. Reliable information from the committee indicates that the committee would commence work in earnest next week. But who are those to be summoned by the committee and what would the committee be looking for in the investigation? The committee is going to invite the minister, Mrs. AlisonMadueke, who is the principal figure in this matter; the chief executive officers of the Federal Airports Authority of Nigeria (FAAN); Nigerian Airspace Management

Agency (NAMA); and the Nigerian Civil Aviation Authority (NCAA) as well as the Nigerian National Petroleum Corporation (NNPC) and other parastatals in the petroleum industry are on the list of those to be summoned.

The committee would seek to establish if the minister is entitled to the use of private jet; whether the colossal amount was actually spent by the minister and whether it was appropriated or just extra budgetary spending. It will find out who pays the bill as it is being speculated that it is not the ministry of petroleum resources that settles the charter bills but one of the parastatals in the ministry. Hence, the committee would seek to find out where the director general or managing director as the case may be, derives the authority to pay for the ministers trips.

In investigations of this nature, tempers are likely to rise because the lawmakers may be tempted to deviate from the constitutional issues and asked questions based on morality.

These issues would definitely arise in the course of the investigation because, the Federal Government has of late been advocating for a cut in public spending.

This informs the reduction in the budget from the N4.9 trillion for 2013 to N4.642 trillion proposed for 2014. So, if the government is trying to cut down the cost of governance and a minister is allegedly spending such an amount, it will raise eyebrows within the parliament, particularly the current House of Representatives that has kept the executive on its toes since its inauguration in June 2011.

Again, considering the fact that the House had in the wake of the suspension of the CBN governor passed a resolution calling for his reinstatement, but since the president has not heeded their advice and a matter of similar magnitude is now before them, if the committee discovers that she is culpable, the House may call for her sack. It is really a test case for the committee.

POLITICS 17

Sanctity of Truth

Wednesday, March 26, 2014

FG paying lip-service to job creation –Odunsi What is your take on the recent Nigerian Immigration service (NIS) recruitment tragedy where some youths lost their lives?

The truth is that our educational system is not preparing our children for life. The current 6-3-3-4 is not being implemented as per the original intentions of the designers of the scheme.

If it had been implemented as per the design, not many of the kids would go beyond the first three years in secondary school, thereafter they would go into skill acquisition programme; plumbing, tailoring, carpentry and others. But we haven’t implemented the 6-3-3-4. Tell me if there is any technical school run by government anywhere in this country that teaches plumbing, carpentry and other entrepreneurial skills? In those days, we had the trade centres, but where are the trade centres today? If this government were to be serious for education for our kids, they would actually implement the 6-3-3-4.

What that scheme recognises is that certain kids are not academically inclined, so after the first three years in secondary school, you should be able to identify those who are not academically inclined. It is not a crime not to be academically inclined; they could be skilful if they are trained. Because we are not implementing the 6-3-3-4, we find all our kids just go through the ladder of secondary education, even those who don’t have the wherewithal and when they finish at the end of SSCE, they drop-out and become useless to themselves and the society because the university can only absorb a few of them. And those absorbed, how many of them have jobs waiting for them out there. So, our educational system is not correct. We need to do something about it because if we have an educational system that is tailored to develop the human capital, then we wouldn’t have too many problem of graduate employment. That is why I don’t think the best way I can assist kids in my senatorial district is to start looking for job for them.

See what happened at the last NIS recruitment exercise, 700,772 applicants for a position that is less than 5,000. So, this government has been playing lip service to the development of our educational manpower. That is why I see some hope and promise in the programme my party, the All Progressives Congress (APC) has rolled out which focuses on human capital development. A country like Singapore does not have any natural resources but they have trained themselves and are useful to the society.

Has the NIS tragedy exposed further the lip service effort of governments at every level?

I always like to listen to the statistics that our government technocrats reel out especially that of the Minister of Finance and the Minister of Agriculture. The two of them can reel out statistics and it always excites me because I ask questions like where is the effect of these figures that you are giving to us,

Senator Akin Odunsi represents Ogun West Senatorial District in the National Assembly. In this interview with WALE ELEGBEDE, he speaks on his entrepreneurial initiative for his constituents, the ongoing national conference and the clamour for his second term bid in the Senate. Excerpts:

But some people feel that the APC manifesto may not be different from the Peoples Democratic Party (PDP)?

Just give us the opportunity to bring these things to pass. It may look too real to be identified with but it is possible.

You see, people have been paying lip service to programmes that they enunciate.

When I was running my campaign in 2011, I said it was possible and a lot of people in my constituency are wondering whether some of the things I am doing are actually possible. As a result, I’ve encountered die-hard politicians, who said why am I doing all these things and that all what I am doing are only opening them up to ridicule. I always tell them that I haven’t done enough given my limited access to the resources. If any government is serious and desirous

Your stance on the confab contradicts the position of your party, the APC, which is against the initiative.

The lukewarm attitude of my party does not suggest that they are against the confab. If you listen to the statement issued by APC, as a party, they are entitled to only two nominees out of 492, so where does that take you. So, forget it whether my party is at the confab or not. There are members of my party at the conference. If my party wants any opinion expressed, which are opinions that are deep-rooted, which our members subscribed to, they will canvass for it at the conference.

How do you feel with the clamour from Ogun West that you should return to the Senate for a second term?

I hope many of them are serious about it. In the first place, I came into this game based on the yearning and call from my people. So, if they feel that I have served them well enough, I am thankful to God that they have seen that.

I am a man that has given myself to the service of the people. If it is their wish that I return to the Senate for a second term, I cannot say otherwise.

Odunsi

how many kids have been employed and where are they? They always say that our economy is growing. How can it be growing with millions of young people out in the unemployment market? It doesn’t make any sense to me. Because of the NIS tragedy, the president gleefully announced that he is giving automatic job to some people. So, he has created some jobs immediately for those kids, let him create jobs for every kid then since he has the power to by fiat give the relations of the deceased automatic job.

getting solved gradually. I believe that when we get into the confab proper, then you will begin to see all kinds of issues.

I pray for a strong Nigerian nation but we still have a long way to go.

They always say that our economy is growing. How can it be growing with millions of young people out in the unemployment market? of developing the human capital in this country, especially with all the resources we have, then it is possible. The problem is that there is too much leakage in the system. Even the little that we are doing as legislators, we are running into trouble with the civil servants. Some of my projects are not being executed to my satisfaction, but because we don’t do what they want us to do, we don’t get the results we want. This country is endowed; we only need good, committed, incorruptible leadership.

What is your take on the on-going National Conference?

My wish is that this conference does not go the way of the previous ones.

Secondly, I also wish that the confab would come up with concrete proposals to make the country go forward.

If that is done I pray these things are subjected to a referendum. If they can put all those packages together and the Federal Government has the political will to test some of these outcomes in the market place through a referendum, maybe the problems of Nigeria would be

What motivated the recent empowerment programme you conducted for some 22 unemployed graduates in Ogun West?

The initiative is known as EazyBiz Entrepreneurial Scheme and it was done in conjunction with the National Directorate of Employment (NDE) who provided the technical skill. The launch of the EazyBiz scheme in the district is the first of its kind in Ogun State and it was geared towards making the youths employers of labour and self-reliant.

The scheme is aimed at giving youths the opportunity of providing payment solutions to people through ticketing, recharge cards, lottery and PHCN bills among others. The programme for this batch, just like the 120 youths we trained last year, is expected to take some youths off the labour market. You see, if only the local, state and federal governments can take vocational, technical and skills acquisition trainings very serious, then the issue of unemployment will be greatly reduced. On our part, we hope to still train another set of 120 youths from the senatorial district in different entrepreneurial skills starting from May 2014.

What is the cost implication of the scheme?

The EazyBiz entreprenurial Scheme gulped the sum of N15 million with each of the participants having trade tools worth N600, 000 and initial startoff capital of N50, 000. The funding was provided by me.

ARTS

WEDNESDAY, MARCH 26, 2014

NEW TELEGRAPH

www.newtelegraphonline.com/arts

“Our high respect for a well read person is praise enough for literature.” ― T. S. Eliot

LITERATURE

Role of Oranmiyan in annals of Yoruba Title: Oranmiyan: What is in a name?

Osile Oke – Ona, Egba’s Involvement.

Author: Oba Adedapo Adewale Tejuoso Number of Pages: 212 Publisher: Pumark Nigeria limited Reviewer: Qasim Olalere Akinreti

I

n Yoruba mythology, a name is given to symbolise circumstances of birth in a home, posterity, sense of character and projection into the future. In Oranmiyan: What is in a name? Osile Oke- Ona, Egba’s Involvement, written by Oba Dr Adedapo Adewale Tejuoso, the word Oranmiyan and Oranyan are used interchangeably to underscore the intonation of the Yoruba dialect of undiluted Oyo and other forms of Yoruba language. It also reinforces the connection of both Oyo and Ile-Ife to the story line.

The 212 page book is divided into two main chapters, which trace the origin of the Yorubas and Egba. Appendix takes major segments of the book providing basis for the authenticity of the Oba Adedapo Tejuoso, the Osile Oke Ona’s storyline.

Pointedly too, it acts as the major plank of the title of the book.

The chapters are sub-divided into the following headings: Brief history of Oke – Ona Egba, Mythological Kings, Queen of Sheba, A Lesson for Yoruba Leaders from Yoruba history. Others are Oranmiyan Movement, Traditional Heritage, A Lesson from Japanese History, Nigerian Women Award, Biography of Chief Mrs Bisoye Tejuoso, A Brief Citation of Oba Dr Adedapo Tejuoso, and Photo Panorama.

The heights of the book are locked in the sub-headings on, Oranmiyan: Ile Ife Involvement, Oranmiyan: Oyo’s Involvement, Oranmiyan Oko’s Oke Ona Egba’s Involvement. The last part of the content are extracts from a book “Omoluwabi, And the King Praise God” and lastly, “Kings’ Day of Praise”.

The book will go down in history as a compendium linking tradition and modernity to underscore the mythology surrounding the status of Oranmiyan in Yorubaland. Oranmiyan was the progenitor of the Oko, present day Oke Ona Egba.He reigned in Oko and moved the seat of government of Yorubaland there for a while, pages 37 and 179. The obelisk monument in Ile Ife had resemblance with the Washington monument obelisk.

That the Alafin of Oyo, Alake of Egba and Owa Obokun of Ijesaland and other major Obas in Yorubaland cannot properly be installed until the sword of state was brought from Ile Ife, page 50. 1903 landmark event on the clarification of 22 great obas wearing of beaded crown in Yorubaland finally put in perspective the

authority of the Ooni of Ife , as the undisputed leader of Yoruba obas as well as the pre-eminence role of Ile Ife as the spiritual head of Yoruba nation, page 71- 78 makes an interesting read.

The Yorubas link to the Middle East, precisely Egypt was noted by two distinct features, the writings on scroll in the holy bible in reference to the Egyptian writings of hieroglyphics page as well as “Ife Marble” sculptures and those seen in the Egyptian court of the British museum, page7, 8 and 46.

It is noteworthy that this historical publication equally substantiated Oranmiyan as a king in Ile Ife, Oko in Egbaland, Oyo Ile, and Oyo Ajaka, with influence on the entire Oyo Empire in the days of yore.

These claims support Reverend Johnson’s record on Yoruba history, pages 14 and 179.

Page 56 to 66 is an expose of the founders of Yoruba nations from Oduduwa, to Oranmiyan, the remarkable roles of Moremi; the two sons of Orayan, Ajaka and Sango were exhaustively highlighted.

Going by the analysis of the book, the Egba roots were traced to 5th August 1830, when warriors and their families settled in Abeokuta under the Olumo rock.

A lesson for Yoruba leaders from historical perspective is quite instructive for new crop of leaders, who must eschew bitterness and be united for the common good of the people, page 86 to 88.

The story of Oranmiyan movement revived by the Rauf Aregbesola, the present Governor of Osun state brought into the fore the achievement and focus of king Oranmiyan in Yoruba history . This consummate in the six point agenda of the Oranmiyan group namely, banish hunger, poverty, unemployment, promote functional education, restoring healthy living and enhance communal peace and progress.

The absolute love and commitment to a race by good leadership are great lessons the Yoruba land could learn from Japan, who had almost the same attributes with the Yoruba nation. With Yoruba people level of education and civilisation in all spheres, the author believes, his beloved race can make it.

For his passionate love for her late mother, an industrialist par excellence, Oba Dr Adedapo Tejuoso, the Osile Oke Ona Of Egba, devoted a chapter to eulo-

The book will go down in history as a compendium linking tradition and modernity to underscore the mythology surrounding the status of Oranmiyan in Yorubaland

gise her mother, the Iyalode of Egbaland, late Mrs. Bisoye Tejuoso, the first woman industrialist in Nigeria, “.... an enterprising woman, wealthy in her modest form, respectable and living a comfortable life...”. If one had listen to the lyrics of evergreen songs of legendary Chief Dr Ebenezer Obey in the 70’s, the apt description and contributions of madam Tejuoso would be well appreciated on pages 102109.

To further justify the title of the book, the celebration of Oranmiyan festival brought into fore the cherished cultural heritage of an average Yorubas. Ooni of Ife, Oba Okunade Sijuade’s goodwill message on the celebration of Oranmiyan festival contextualised this essence “..... no one can celebrate Oranmiyan without reference and obeisance to the Opa Oranmiyan domiciled in ile ife, the source...the underpinnings of our civilisation, history and cultural heritage have been the tradition of tolerance, openness to new ideas, respect for ancient wisdom, intellectual pursuit and abhorrence of violence. The Yoruba people are loving testimony to the noble tradition of blending the old and the new.” (page 139-143). There lies the traditional heritage of the Yorubas of the South western Nigeria and beyond.

The language is simple, fluid and self explanatory. It helps the reader to follow the sequence of historical facts and reinforced the authority of the author as a quintessential Yoruba Oba imbued with candour and grace of royalty.

His use of proverbs, or local idioms of Yoruba Language, pieced with appropriate translation in English, enhanced the quality of the publication for children yet unborn to tap from Oba Adedapo Tejuoso’s, logical analysis and writing prowess. As a medical doctor and traditional ruler of note, he has surely raised the bar in contributing his quota to the literary world.

Here, effective use of pictures, both coloured and black and white, to sign post and enhanced the quality of the publication.

The opening coloured picture on the covered page lifts up the beauty of the book, while the relevant pictures therein confirm the uniqueness of the book. The quality of the print and lettering generally are commendable, and makes the book pleasurable to read.

However, anyone genuinely interested in the authentic story of Yorubaland and the pre-eminent role of Oranmiyan in annals of Yoruba, must get a copy of this book, read and digest the rich contents. It is a classical work of arts which generations of Nigerians and more importantly historians and researchers will found worthy of reading and for research work on Yoruba history.

Our VISION To build a newspaper organisation anchored on the sanctity of truth.

Our MISSION To publish a newspaper of superior value, upholding the fundamental ethics of journalism: balanced reporting, fairness, accuracy and objectivity.

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19

EDITORIAL

Sanctity of Truth

Wednesday, March 26, 2014

Sanctity of Truth w w w.new telegraphonli ne.com

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

WEDNESday, MARCH 26, 2014

Positive pro-health initiative from Lagos

peaking while signing into law the anti-smoking bill on February 17, this year, Lagos State Governor Babatunde Raji Fashola said the new law would protect lives and safeguard the rights of residents of the state.

“I should have no difficulty assenting to this bill, because it serves to strengthen our hands towards a more efficient discharge of our responsibilities to protect lives and property.” The new law bans cigarette smoking in public places such as toilets, tertiary institutions, public transportation vehicles, shopping centres, stadia, restaurants, among others. It also criminalizes smoking before minors and compels management of public places to conspicuously display “no smoking” signs at appropriate positions within their premises.

We commend this bold step by Lagos State Government and the Lagos State House of Assembly for their desire and zeal to protect public health, promote public decency and safe-guard the health and morality of children in Lagos.

With this new law, smokers would be saved from themselves, while non-smokers in particularly would be kept away from second-hand smoke. Smoking, it must be stated, has devastating health implications on smokers and passive smokers alike. The effect is even more telling on kids who experts say are

more vulnerable to second-hand smoke as they have smaller lungs and faster breathing rates than adults. Very importantly, images of people smoking in public places normalize smoking in the minds of children and young people. Equally at greater risk of smoking are pregnant women as exposure or involvement can lead to a myriad of medical problems.

According to statistics by World Health Organization (WHO), tobacco epidemic is one of the biggest public health threats the world has ever faced, killing nearly six million people a year. More than five million of those deaths are the result of direct tobacco use while more than 600,000 are the result of non-smokers being exposed to second-hand smoke. Approximately, one person dies every six seconds due to tobacco, accounting for one in 10 adult deaths. Up to half of current users will eventually die of a tobacco-related disease. Unless urgent action is taken, the annual death toll could rise to more than eight million by 2030. Nearly 80 per cent of the more than one billion smokers worldwide live in low- and middle-income countries, where the burden of tobacco-related illness and death is heaviest, the report further states.

In Nigeria, the Global Adult Tobacco Survey (GATS) released by the Federal Government in 2013 puts the figure of adults who used

tobacco products at 4.5 million, while 29.3 per cent (6.4 million) adults were likely to be exposed to tobacco smoke when visiting restaurants and government’s buildings. Seven out of 10 of this number would consider quitting.

It is true that the state cannot protect everyone from everything, even though such constitutional right falls under its purview. We recognize the rights and privileges of individuals especially decisions concerning personal health and behaviour, irrespective of whether sound judgment and common sense is applied. But we are not persuaded by the argument of the protobacco activists that this law is capable of undermining the rights and limiting buying choices of smokers. We recognize the inalienable rights of people to smoke, but it is pertinent to remind them too of the rights of others to clean environment and good health; and to note that where their rights end, other people’s rights begin.

Thus, we caution the law enforcement officers to take into cognizance that habits are easy to form, but difficult to break.

This explains why we share the sentiments of the Nigerian Medical Association’s (NMA) about the absence of cigarette smoking withdrawal programmes, particularly as it affects the fate of people who were not prepared for the drastic withdrawal from the highly

addictive substances contained in cigarettes, given that commodities like nicotine patches and e-cigarettes that mitigate the withdrawal symptoms are not readily available in Nigeria. In the midst of all this, it is important to give room for people who want to quit by providing care and programmes for rehabilitation.

While we emphasize the need to embark on massive campaigns to raise awareness on the ban, various health risks of smoking and second hand smoke, as well as the toll of tobacco use on people, we call on governments at all levels to emulate and even surpass Lagos State Government by promulgating a law that would take care of the concerns expressed about the dangers of cigarette smoking. Also, achieving a smoking-free society lies in the hands of all citizens.

Above all, Nigeria has the opportunity to focus on prevention to further decrease prevalence rates.

Currently, there are no national restrictions on advertising and promotion of tobacco use in Nigeria.

The National Tobacco Control Bill (NTCB) is comprehensive enough to regulate the manufacturing, advertising, distribution and consumption of tobacco products in Nigeria when passed into law. We call on the National Assembly to see to the passage of the bill to enhance other state laws on tobacco smoking.

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

20

Sanctity of Truth

OPINION The three faces of Boko Haram

Ladi Ayodeji

B

oko Haram, the ruthless Islamic insurgents have three faces: with prying eyes that look menacingly at its victims like a were-wolf.

When they strike at Government buildings or state officials, what you see when you unmasked them is the political Boko Haram.

When they hit at places of worship, their ugly face of religion is what you see, and finally, and no less brutal is the criminal Boko Haram, who carry out raids on banks, and commercial outfits to raise money for their heinous crimes against humanity.

The identity of their sponsors may be shrouded in mystery, only because this government is embarrassingly incapable of unmasking them. It took the George W. Bush Jr. Administration less than 24 hours after terrorist bombed the Twin Towers of the World Trade Centre, to name Al-Queada as the culprits, identifying Osama Bin Laden as the master mind.

After a well-crafted anti terror global campaign, the U.S government has killed Osama Bin Laden and some of his powerful commanders.

A complex mix of incompetence, corruption, greed and political intrigue combine to frustrate the war against Boko Haram. There are different cliques, some powerful politicians and religious fundamen-

talists who represent each of the three faces of the sect. At different times and in diverse ways, they are behind the seeming invincibility and elusiveness of the terrorists. Disparate groups fighting from entrenched ideological positions funnel funds to the Islamists to implement their evil agenda. That is why we cannot place a face on Boko Haram. The group has three faces as aforementioned, but that does not mean that it cannot be out-boxed.

There are quite a number of things hindering Mr. Jonathan. The first and most important is his own weak governing capacity and unsteady focus.

And when he wields the big stick, it is either on the wrong people or on the right people at the wrong time, usually when it is too late. For instance, he keeps changing the top brass of the security team, yet Boko Haram remains as deadly as ever. Even the state of emergency that initially pushed back the insurgency is no longer effective.

The president replaced the last set of service chiefs because of inter service rivalry. Why should that happen in a disciplined, well trained force? In any case, the previous service chiefs and key operators in the security team were fired for similar reasons. Frequent changes in the military hierarchy do little good in an environment where long experience and cumulative knowledge are germane to the issues

Wednesday, March 26, 2014

on ground.

The alarming revelation by Bornu state Governor Alhaji Kashim Shetimma that Boko Haram forces are better equipped than our military is a serious charge that may be at the root of our Army’s unsuccessful campaign to destroy the insurgents. Rather than display public anger as the President did during the last Media Chat, he ought to look objectively into our arsenal and determine the true quality of our military hardware.

There are insinuations about the belligerence capability of our Armed forces due to low moral, caused by lack of motivation, poor pay, delayed entitlements and slow promotion of the rank and file.

Therefore, the Governor’s comments should not be dismissed. Mr. Jonathan must investigate the quality and content of the fire power of the security forces in all arms of the uniformed identity, including our long-suffering, marginalised police.

There could be moles in the corridors of power as the President once claimed, who leak vital information to the Boko Haram commanders. Double Agents abound in war situations. It is a reality we can’t wish away.

• Ayodeji, CEO of BMG Promotions, a marketing communications outfit, wrote from Lagos

Appraising Jonathan’s National Industrial Revolution Plan Sylvester Okoro

P

romoting the success of any government in power is a hazardous occupation for me. But, the revolution going on in the manufacturing sector since the inception of the present administration has made me more comfortable in the occupation of mouthing the success of the administration in this regard. Since the administration of President Goodluck Jonathan developed and launched the National Industrial Revolution Plan, the hitherto comatose manufacturing sector has been given a new lease of life as the sector is alive again.

Tucked in the remote area of Nnewi, on the outskirts of Anambra State, Innoson Vehicle Manufacturing Plant only existed before now in the minds of the locals who would dream that one day the product of the company will be used by Nigerians. That dream came to fruition with the industrial revolution embarked upon by the Jonathan administration. Cars of various shapes and sizes manufactured by Innoson have become a regular feature on Nigerian roads.

And, as a sure way of encouraging the company, President Jonathan has formulated a policy which made it mandatory for government agencies and parastatals to patronize the cars manufactured by Innoson group as their official cars. The policy has come into effect as most of the ministries now purchase the vehicles manufactured by the Innoson as the official cars for top officials of the ministries.

The effect that this singular policy has on the economy is too profound to hastily appreciate. With the patronage coming from government and individuals alike, Innoson group has no choice but to engage more hands in the manufacturing of the cars. This, in essence, will boost employment in our land; the cash flight due to importation of fairly used cars into the country would be a thing of the past and, more importantly, other companies which supply raw materials for the company will thrive in business and engage more hands.

Is this not amazing?

If you are carried away by the achievements of the Innoson group, then hold your breath until you get to hear about the Peugeot Assembling Plant located in Kaduna in the 80s; the company was moribund many years ago. The industrial revolution embarked upon by the Jonathan administration has given life to the moribund company as the company has concluded plans to start assembling Peugeot cars in the country again. The import of this is that employment would be created again by this company.

Many other foreign motor companies, which before now imported cars to the country, have concluded plans to build assembly plants in Nigeria. This will reduce the rate of importation of cars into the country. Stallion group that is reputed for the importation of Honda cars will now build a plant where all ranges of Honda cars will be assembled. Apart from the Stallion group, Kewalram, another company which specalises in the importation of cars, has concluded plans to build plant to assemble the brand of cars (Mitsubishi)

they import into the country.

Motor manufacturing is not the only subsector of manufacturing that is reaping the fruit of the industrial revolution embarked upon by the Jonathan Administration. The federal government has developed a sugar master plan to provide roadmap for 100 per cent local production of sugar. Many manufacturers have keyed into the policy and the result is massive sugar production being witnessed in the country.

In the same vein, due largely to the industrial revolution, Nigeria is now a net exporter of cement. Nigeria has moved from producing 2 million metric tonnes in 2002 to a capacity of 28.5 million metric tonnes at the moment. It is on record that with no permit issued in 2012 for cement importation, savings of over N200 billion were made. This feat remains the first in the history of this country.

The Onne Oil and Gas Free zone has been transformed with $6 billion invested leading to the attraction of 150 companies into the zone with 30,000 jobs created as at the time of this write up. Foreign investment in the manufacturing sector is booming as shown by the number of foreign companies flooding the country to establish their manufacturing plants.

For instance, Indorama’s $1.2 billion fertilizer at Onne; Procter &Gamble’s $250 million consumer goods plant in Ogun State and SAB Miller’s $100 million brewery at Onitsha are significant indicators. There are many others too numerous to mention which have contributed immensely to the reduction of the unemployment problem in the country.

The administration has equally come with legal support for the manufacturing companies based in the country so that they will not have undue disadvantage from their competitors based elsewhere.

That is why the administration of Jonathan has negotiated a strong Common External Tariff, GET, agreement with ECOWAS partners, which would enable the country to protect its strategic industries where necessary.

Some of the manufacturers are of the opinion that with the industrial revolution roadmap, the country is on the path of greatness but something must be on the ground to sustain the move because that is the only way to belong to the comity of developed countries. “I think this is the first time that Nigerians would be allowed to take their own destiny in their hands. I am into manufacturing and I can tell you that since the inception of this administration, I have engaged more hands because there is enabling environment to operate. Jonathan has done well and I think we should support him for a second term”, advised Romanus Ani, a local manufacturer.

Samson Ngene, who is into juice manufacturing, believes that unlike before, it is no more tears for manufacturers as the environment is conducive for them in the manufacturing sector. Whichever divide you might find yourself, there is no doubt that the administration of Jonathan has performed wonders and is still working towards repositioning the economy.

• Okoro sent this piece from Enugu

Group takes anti-child abuse to Lagos suburb }p-26

CAMPUS

Benue teachers bemoan unpaid salaries }p-22

JAMBITE wins OAU's most beautiful girl on campus

EDUCATION

}p-27

NEW TELEGRAPH

newtelegraphonline.com/education

KAYODE OLANREWAJU, Editor, EDUCATION

kayode.olanrewaju@ newtelegraphonline.com kayolanre@gmail.com

WEDNESDAY, MARCH 26, 2014

SUMMIT

Key players in the edcuation sector gathered for three days in Abuja, last week to chart a new direction for the hailing sector

21

Let us never be betrayed into saying we have finished our education; because that would mean we had stopped growing.

- Julia H. Gulliver

A voice for sustainable education development

Abdulwahab Isa Abuja

O

rdinarily, the three-day brainstorming session was supposed to be a gathering of renowned economists and financial experts, as the name depicts, to chart a way forward for the nation’s comatose economy.

But, in actual fact, the talk-shop turned out to be an assemblage of eggheads and key stakeholders in the education sector, supported by public and private sector players, who for three days last week spared no thoughts on solutions capable of reversing the rot in education sector.

The venue was the Conference Hal, Transcorp Hilton Hotel, Abuja.

Tagged: 20th Nigerian Economic Summit, the education summit was organised by the Nigeria Economic Summit Group (NESG), to capture the entire education sector in the country with a view to presenting a common front for stakeholders proffer solution to the palpable challenges confronting the sector.

The theme of this year’s summit, which focused on education, was: “Transforming Education through Partnerships for Global Competitiveness.”

The choice of education as focus of this year’s summit, which was organised by the Nigerian Economic Summit Group (NESG), in conjunction with the National Planning Commission (NPC), underscores the required urgent surgery that must be performed on nation’s education sector, if it must fit into the 21st Century projection for achieving the Education For All (EFA) goal and the Millennium Development Goals (MDGs).

Setting the tone of the talk-shop, the Chairman of the Nigerian Economic Summit Group, Foluso Phillips laid bare in his introductory remarks the daunting woes and myriad of problems confronting Nigeria’s education system.

To the chagrin of stakeholders, Phillips painted a gloomy picture of the sec-

L-R: Director-General, Nigerian Economic Summit Group, Mr. Frank Nweke Jr. Minister of State for Works, Bashir Yuguda, Vice President Namadi Sambo receiving the report of the summit from Philip. With them are Wike and Oshiomhole at the closing ceremony of the summit.

Photo:TimothyIkuomenisan.

tor, when he said a survey on education and employability carried out by experts had estimated that 24 million jobs were needed over the next 10 years, to reduce the current unemployment level by half.

Towards this end, he noted: "That is why you would have over 100,000 graduates applying for 4,500 jobs, with some applicants losing their lives in the process. In addition to the deficit in jobs created relative to new entrants, the quality of labour poses a major challenge."

Despite that improvements in the business and economic environment will go a long way towards creating jobs; he was of the view that in spite that the country will be confronted with other challenges, among which is whether there are enough suitably skilled Nigerians to take up the jobs created.

He regretted: "Our institutions, at all levels, are producing graduates not fit enough for job purposes. In other

The challenge of inadequate human capital is fast becoming the biggest challenge of all words, our children are leaving school without the skills required to sustain them to contribute to the growth and development of the national economy.

The challenge of inadequate human capital is fast becoming the biggest challenge of all. We, must therefore, face our education system with passion and vigour, and the collective objective between the public and the private sectors since each of them cannot do it adequately alone."

Faced with these challenges, Phillips hinted this year’s summit which focuses on education, set out to achieve three main objectives and purposes.

One of the objectives of the forum,

he said was to draw stakeholders’ attention to the fact that there was a huge challenges in the sector, and the need to understand the nature of those problems with a view to solving them.

The second objective is to consider human capacity and ability to effect the necessary changes based on the magnitude of what needs to be done and, to devise a structure that will ensure sustainability of an improved educational system.

While enumerating the third major focus of the summit, Phillips traced it to funding, which according to him, should be identified as the major problem affecting the growth of education sector, and delivery of qualitative education in the country.

But the Supervising Minister of Education, Mr. Nyesom Wike, deferred in the area of funding of the system, saying the government was not deficient in the funding of the education sector, as stated by Phillips in his submission.

CONTI NUED ON PAGE25

22 EDUCATION

Wednesday, March 26, 2014

Mixed feelings trail continued ASUP strike Emeldah Ogene Abuja.

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alpable frustration and failed expectations have become the story of polytechnic students in the country as there seems no end to the protracted strike which has paralysed academic activities in their institutions.

Polytechnic teachers, under the aegis of the Academic Staff Union of Polytechnics (ASUP), had on October 1, last year, embarked on an indefinite, calling on the government to meet its demands.

ASUP was said to have embarked on strike in April 2013, over the failure to implement the agreement it reached with the Federal Government in 2009,

but had to suspend the strike in July that year, as a result of government`s promises and deep assurances that it would meet the union`s demand in the next two weeks.

However, the failure of the Federal Government to fulfill its promise in April 2013 was said to have forced the union to resume its strike suspended in October last year, thereby paralysing academic activities in the institutions.

Part of the 13 demands of the union as contained in the 2009 Federal Government/ASUP Agreement, include better salary structure for polytechnic lecturers, infrastructure improvement, better working condition, setting up of governing councils for polytechnics, constitution of the Polytechnic Commission to

L-R: Special Adviser to Ondo State Governor on Image and Photography, Sam Olusegun Alade; Provost/ Member Governing Council, Nigerian Institute of Journalism,Dr, Elizabeth Ikem; Publisher, Vanguard Newspaper, Uncle Sam Amuka; and the graduating student, Funmi Alade at the 6th Convocation ceremony of the Institute in Lagos .

Cephas Iorhemen Makurdi

T

eachers in primary schools in Benue State are not happy with Governor Gabriel Suswam’s administration over their unpaid salaries, and non-implementation of the national minimum wage.

The teachers, under their umbrella union, the Nigeria Union of Teachers (NUT) who lamented how many of them had died as a result hunger premeditated by non-payment of their salary, insisted that they would not call off the strike they embarked upon few months age.

The Chairman of the state wing of the union, Comrade Godwin Anya, who spoke with our Correspondent in Makurdi, the state capital, recalled that no fewer than 10 members of the union had so far died due to hunger suffered as a result of non-payment of their salary.

He said the over 26,000 primary school teachers on the payroll of the state government embarked on strike in October 2013, to press home the payment of the new national minimum

and an end to discrimination against polytechnic graduates, as well as the release of the Government White Paper on Visitation Panels to polytechnics.

The South-West Coordinator of the polytechnic teachers, has reiterated the decision of the teachers to continue their over six-month old strike until the Federal Government is ready to accede to their demands.

Mr. Dosumu had told New Telegraph that the failure of the government to address the various demands of the union, rather than the union should be blamed for the prolonged strike.

“The ‘total strike’ will continue until the Federal Government comes up with its offers to meet all our 13 demands, without which the National Executive Council (NEC) of the union would not suspend the strike. It is the response of the government that will open another door for NEC meeting to decide on the next line of action. And not until that is done the total strike continues,” he said.

Miffed by the continuing closure of their institutions, the students of the Yaba College of Technology (YABATECH), Lagos, joined by their colleagues from Federal Polytechnics, Ado-Ekiti; Ilaro, Ogun State; Nasarawa and Bida, as well as students from Federal College of Education, Akoka, Lagos, last week took to Lagos streets to protest stoppage of academic activities in the federal polytechnics and colleges of education across the country from October 4, 2013.

The students, who blocked all major roads and disrupted vehicular movement from Yaba through Jibowu and Ikorodu Road, queried why the Federal Government should be toying with their future since without education other sectors will not have skilled workers.

The students displayed various placards with inscriptions such as “HND is equal or greater than B.Sc”; “Stop the Discrimination”; “We say no to Strike”; “We want to go back to our Classrooms”;

“Education is our right not a privilege”, among others.

According to the Students Affairs President of the polytechnics Students Union, Comrade Salvatore Ganiu, during the protest, concerned students agreed to team up in the protest to inform the Supervising Minister of Education, Mr. Nyesom Wike that they are tired of staying at home.

The students said: “We are equally demanding the creation of the National Polytechnic Commission and the regularisation of the equality between Higher National Diploma (HND) and Bachelor of Science (B.Sc).

However, the Minister had in December last year, during a meeting with polytechnics, hinted that some of the lecturers’ demands had been met by the government.

He specifically said that the Federal Government would pay the N20.4 billion arrears owed to polytechnic staff as soon as the procedure for payment was concluded.

The Federal Government had last week extended the olive branch to the ASUP and their colleges of education counterpart, the Colleges of Education Academic Staff Union (COEASU) over the ongoing strike by the two unions.

In a statement by the Special Assistant to the Minister on Media, Mr. Simeon Nwakaudu, the government urged the academic unions to call off the strikes.

The statement noted that the Federal Government had clearly worked had to resolve the ASUP and COEASU strikes.

“The Minister had on several occasions negotiated with the ASUP and COEASU leaderships to resolve the lingering crisis,” the statement added, noting that “it is hoped that in the coming days, COEASU and ASUP will respond positively to the latest efforts of the Federal Government.”

Benue teachers bemoan unpaid salaries wage.

But, the state government has said that it did not owe the teachers.

However, the NUT chairman, who said the teachers were not ready to shift grounds until their demands were met, bemoaned government’s insensitivity to the plight of primary school teachers.

Anya said: "The union is not ready to suspend the strike because there is no plan by the state government to address their demand. It is only when the government responds to our demands that we will call off the strike. For now, as long as the minimum wage is not paid, we will continue the strike."

Special Adviser to Governor on Local Government and Chieftaincy Affairs, Solomon Wombo, whose office is responsible for the payment of primary school teachers’ salary, once told journalists that the current financial status of the state government based on the federal allocation accruing to the state has made it difficult for the state to pay the minimum wage to its primary school

teachers.

“Given the poor status of the current Federal Allocation to the state, it is only God that would save the situation for the teachers, and they have to be patient with the government,” Wombo said, pointing out that a memo had already been submitted to Governor Suswam by his office suggesting a stakeholders’ meeting to discuss and find another way round the impasse.

While reacting to the prolonged strike, the governor, it was gathered had allegedly threatened to sack the striking teachers and replace them with new recruits, if they refused to end the strike.

Governor Gabriel Suswam while speaking on a Radio Nigeria audienceparticipation programme - Radio Link – had recently said teachers in primary and junior secondary schools refused to accept partial implementation of the minimum wage, which is higher than N18,000.

Describing the minimum wage as a threshold, the governor was quoted as

saying that teachers in the state had enjoyed various salary increments before the introduction of the minimum wage by the Federal Government.

The governor said: “I have stopped paying them from October because you can’t pay people that are not working. I am not going to pay them and I am not going to pay the arrears either, what I may eventually do is to recruit new teachers.”

The governor disclosed that on assumption of office in 2007, he approved over 15 per cent salary increment for workers and recalled that when 27.5 per cent Teachers Salary Structure (TSS) was approved for teachers; Benue State was among the first states to implement and pay it.

He explained that the teachers know very well that the state does not have the resources (money) to pay the over N2 billion minimum wage to the teachers monthly, stressing that it would be foolish of the government to borrow money to pay salaries.

Wednesday, March 26, 2014

Private school owners restate commitment to quality education Mojeed Alabi

Kayode olanrewaju

A

$3 million study centre for the management and control of environmental issues has been opened by Shell Petroleum Development Company Joint Venture at the University of Nigeria, Nsukka (UNN).

The centre is a product of a partnership between the university and Shell Petroleum Development Company (SPDC) Joint Venture under the publicprivate-participation initiative.

Country Chairman of Shell Companies in Nigeria Mr Mutiu Sunmonu, represented by General Manager Sustainable Development & Community Relations, Mr. Nedo Osanyande, inaugurated the complex at the Enugu campus of the institution.

According to him, the Centre for Environmental Management and Control, which its construction work began in 2010, with the disbursement of $1 million initial take off grant by SPDC, will house a well-equipped laboratories, classrooms, lecture theatres outfitted with multimedia facilities, as well as staff offices.

Speaking at the inauguration ceremony, the Vice-Chancellor,

Executive members of AFED at the event

by the academic standard of the school. Now, the question is; do we have to wait for the clampdown on our schools by the government or supervising agencies before we do the right thing? That should not be our biggest challenge.

"We must identify the basic principles of teaching and learning, and work very hard towards achieving them for a better or desired outcome."

Ogbonna, however, praised the National President of the association, Pastor Joe Ejenavi, whom he boasted was

produced by the chapter, and thanked him for his support for the association towards its quest in building sound education for the children.

"If the foundation of education is allowed to suffer, we may one day have a president of this country who will find it hard to read and write properly," he noted.

In his presentation, the Chairman of the Association for Childhood Education Practitioners in Lagos State, Mr. S. Fowowe, who spoke on the theme: “Roles of School

Records and School Improvement Programmes in the Development and Growth of a School,” said keeping adequate data by schools assists a nation to plan on available statistics and identify the people's needs and their areas of strength.

He enjoined all and sundry, including the government and private school owners to take record keeping as sacrosanct to the development of the education sector and subsequent development of other sectors of the national economy.

Shell opens $3m centre at UNN

Osayande cutting the tape, with him is Prof. Bartho Okolo, VC (r) and others

Professor Bartho Okolo noted that “the project is a clear example of public-private partnership (PPP) initiative, aimed at complimenting the efforts of the Federal Government in developing infrastructure in tertiary institutions.

Okolo explained that the facility would go a long way in helping to improve the training of students in the field of environmental studies as well as serving as a capacity building centre for Shell and other exploratory companies in Nigeria and West African sub-region.

The Vice-Chancellor, who said the centre of excellence, would be a blend theoretical teaching and practical demonstration in the field of environmental management, stressed that “blending theory with practical is a major way of advancing excellence in education”.

He lauded the management of Shell for donating the project to the university, which he said was comprehensive in terms of its structure and efficient equipment.

“CEMAC is one of over 400 projects embarked upon by the

management of UNN over the last four years between 2010 and 2013, as presented by the institution to the Tertiary Education Trust Fund (TETFund), at a stakeholders’ meeting of institutions in the South-East geopolitical zone on March 11 at the Enugu campus of the university,” the Vice-Chancellor said.

The Managing Director/ Country Chairman of Shell Companies in Nigeria, Mr. Mutiu Sunmonu, said the project was a demonstration of Shell’s interest in environmental matters.

23

Amosun assures college of govt support Mojeed Alabi

G

O

wners of private schools in Lagos State have pledged their readiness and commitment to the government policies and programmes aimed at ensuring the provision and delivery of standard academic system in the Centre of Excellence.

The Chairman of Otto-Awori chapter of the Association for Formidable Educational Development (AFED), Mr. Mathew Ogbonna, disclosed in his speech during the association's maiden edition of a yearly seminar held at Summit Hotel, Shibiri, Lagos.

According to him, the association has made it its responsibility to ensure that private school owners follow due process and the laid down rules and regulations guiding the establishment of schools in the state, as well as the conduct of their members of staff and students.

He said: "It has become obvious that schools are no longer judged by the size or the height of the building, but

EDUCATION

overnor of Ogun State, Senator Ibikunle Amosun, has assured students and management of the Ogun State College of Health Technology (OSCOTECH), Ilese-Ijebu of government support in its quest to blaze the trail in the training of middle-level manpower in the health care sector.

The governor disclosed this during the maiden convocation ceremony of the college, where several graduating students received their scrolls.

Amosun, who was represented at the event by the Commissioner of Education, Science and Technology, Mr. Segun Odubela, and his counterpart in the Health Ministry, Dr. Olaokun Soyinka, said the role of the college has become crucial to the agenda of the state on healthcare. The governor reiterated the commitment of his administration towards the provision of holistic healthcare services in all nooks and crannies of the state.

Soyinka noted: “OSCOTECH has become central to the Amosun’s administration initiative on health delivery system. We need to work on the health pipeline to ensure that it gushes out the right contents to ensure the three Ps of healthcare is well taken care of. The future looks bright for the college.”

In his remarks, the Provost of the college, Dr. Tunji Dawodu listed some of the achievements of the college under his watch to include the accreditation of programmes and the execution of several projects to give the 38-year-old college a facelift.

He appealed to the government to increase subvention to the school in order to get more funds for the required infrastructural development of the college.

Amosun

24

EDUCATION

Wednesday, March 26, 2014

A voice for sustainable education development CONTINU ED O N PAGE21

Reeling out figures and statistics, the Minister revealed that between 2009 and 2013, the Federal Government has invested N144.7 billion in the basic education sub-sector alone.

Though basic education was the responsibility of states and local government, he said Federal Government had since 2005 been dedicating two per cent of its education vote for assistance to the states.

The government, said the minister, began to support funding of basic education after the revision of the National Policy on Education as recommended by the Presidential Task Team on Education.

In the tertiary institution level, he said the government is also intervening through the Tertiary Education Trust Fund (TETFund) allocation.

According to him, the sum of N268.484 billion had been allocated to the universities of which N233.33 billion had so far been accessed, while N35.154 billion had not been accessed by the some universities, for failure to retire the previous allocations, one of the guidelines with which to access the funds.

For the polytechnics, he

said N129.33bn was allocated of which N116.99bn had been accessed while the balance of N12.343bn was yet to be accessed.

For the Colleges of Education, Wike said the Federal Government through the TETFund N124.38 billion was allocated.

Of this amount, N106.25 billion was accessed by the colleges, while N18.14 billon is yet to be accessed by the beneficiary institutions, thereby reducing the presence of the Federal Government in the sector.

Still on the breakdown of the disbursement, the Minister, who noted that apart from the funds released through TETR-L: Dr. Ezekwesili; Mr. Tunde Lawal, Permanent Secretary Ministry of Education; Dr. Mac John Nwaobiala and Executive fund, N94.129 billion had also Secretary National Planning Commission, Ntufam Fedel Ugbo at the summit,

Photo:TimothyIkuomenisan. been released to the federal universities through the National tions by the industrial strikes Transformation and Strategy,” challenges.

Universities Commission for by the various workers’ unions he said the rapid rate at which He lamented that admiscapital, direct teaching and lab- in then system, has contributed technology keeps changing sions in to public institutions oratory cost, as well as teaching significantly to poor quality the education system, means are driven largely by connecand research equipment. standard of education sector. that the government needs to tion of candidates and their But apparently going by Mr. Patrick Okigbo, Princi- actively approach the change. uncles to eminent personaliviews and submission of ex- pal Partner of Nextire, one of “As in education, technology ties in the helms of affairs, as perts and key players in the the key experts at the summit, continues to rapidly change against merit.

The summit in its commupublic and private sector, the said: "Some tertiary institu- the tools, processes and knowlnation’s education is not only tions have not been able to ful- edge applied in the workplace. niqué made several recombogs down by funding, but by ly access the funds allocated to There is a need to have a review mendations to reposition the other factors that have ren- them through TETFund due to of curriculum to adjust to the country’s education sector in their inability to meet the laid change, while students need to order to meet global standard. dered the sector immobile.

According to them, the re- down conditions. Besides, she get knowledge that is relevant Part of the recommendacurring epileptic academic added that TETFund does not for them in the workplace,” he tions are that, education calendar in tertiary institu- have all the human resources said. must inculcate leadership valrequired to effectively moniHowever, in his paper, the Di- ues, intuition, honesty, integtor the projects being executed rector-General, Budget Office rity and the 21st Century skill in the institutions. This often of the Federation, Dr. Bright need to leapfrog the economy, Okogwu on: “Transforming and that the country should leads to delay in the release of funds."

Education through Partnership migrate from education A former Education Minis- for Global Competiveness: Edu- spending to education investter and former Vice-President cation in Nigeria (funding main ment, while it must achieve (Sub-Sahara Africa) of the issue),” he said funding should 100 per cent disbursement of school,” he said.

Olaniyonu, who lamented World Bank, Dr. Oby Ezekwe- be considered in relation to the education budget. the neglect of the school by silsi in her paper: “Education number of schools and student The stakeholders recompast administrations since its for What Purpose” the former enrolment. mended the need to re-model establishment in 1900, pointed Education Minister lamented “Allocation to education the learning environment and out that the only durable block that the country may have its grew from about N1.8 billion in physical infrastructure to reof classrooms in the school significant higher population 1991 to N65.4 billionm in 2001; it flect the character of educapremises was built by the trained as skilled and motivat- climbed to N189 billion in 2007 tion. ed criminals by 2020, if urgent and then to N432.7 billion in Amosun administration.

More importantly, the sumThe Commissioner added: steps are not taken to arrest the 2013 (excluding intervention mit challenged the govern“My visit to this school today dwindling trend in the educa- from agencies such as UBEC, ment at all levels to deploy is a homecoming since 1978, I efforts on trending global tion system.

TETFUND and PTTF).

Quoting from a study by the What about admission pro- skills including establishing passed out and my first time since I became a member of OECD published by the Wall cesses fraught with corrup- research and development cathe State Executive Council.

Street Journal in 2012, she said tion and irregularities? This pabilities in schools.

As an old boy of the school, “countries with the most highly is one vital aspect the Edo The communiqué also I will exploit all avenues to educated citizens are also some State Governor, Comrade Ad- tasked the government to come to the aid of the school.” of the wealthiest in the world”. ams Oshiomhole, drew the at- delegate responsibilities to He urged the pupils to be “The United States, Japan, tention of policy makers and schools, wondering that "you Canada, South Korea, Fin- those saddled with the respon- cannot hold them accountserious and diligent in their academic pursuit by attending land, Norway, Israel, United sibilities to tackle the onerous able if you don't make them Kingdom, New Zealand and classes regularly and paying responsible." adequate attention to their Australia, are among nations Receiving the recommendaeducation. with the largest Gross Domestion on behalf of the Federal While conducting the Comtic Products….they all invest Government, Vice-President, the country may missioner round the school aggressively in education secMohammed Namadi Sambo, have its significant premises, the Assistant Head tor” she said. assured participants that the higher population Mistress, Mrs. Iyabode ArIn a paper delivered by Goosy recommendations would be amide Oluga, explained that Ukanwoke, founder, BAU R&D, presented to the Federal Extrained as skilled lack of adequate security has entitled “The Possibilities ecutive Council (FEC) for furand motivated continued to pose a major conProvided by Technology in the ther deliberation and action criminals by 2020 cern to the school.

Education Landscape: Change, would be taken on them.

Commissioner plans to assist alma mater

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gun State Commissioner for Information and Strategy, Alhaji Yusuph Olaniyonu, has said the Affordable Qualitative Education policy introduced by the Senator Ibikunle Amosun-led administration is aimed at revamping the education sector.

He spoke while addressing pupils and members of staff of his alma mater, Oke-Ona Primary School, Ikereku in Abeokuta North Local Government Area, during his an unscheduled visit to the school, 36 years after he left the school.

The Commissioner, who described primary education as the greatest foundation in the education of a child, noted that the government would not relent in its efforts at prioritising education sector for the general development of the state.

“Primary school is the greatest foundation that sustains a solid building, thus, I would not have become a serving Commissioner today if I have not passed through this

Wednesday, March 26, 2014

Kayode Olanrewaju

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leven years after its introduction, the organisers of the Mike Okonkwo National Essay Competition for Secondary School, are counting the gains of the educational development programme.

The essay competition was initiated in 2004, to contribute to the development of the education sector and most importantly as part of activities to celebrate the birthday of the Presiding Bishop of The Redeemed Evangelical Mission (TREM), Dr. Mike Okonkwo.

Basking in the euphoria of the success of the competition since its inception 12 years ago, the organisers enumerated some of its achievements, to include helping to develop students’ interest in research work, as well as enhanced their reading and writing skills.

“Apart from serving as a tool of encouraging reading and writing, the competition has also availed the students the opportunity to bear their mind on topical issues that are of significant importance to the social-economic development of our nation,” they said.

Besides, the competition has contributed immensely towards ICT development in the secondary schools, especially in government-owned schools, where winners have emerged.

According to Bishop Okonkwo, who has strong passion for the development and use of education as a means of social change, the essay competition has to a large extent as equipped the younger ones to

Bishop Okonkwo recounts gains of competition, 11 years after compete favourably with their peers in other part of the world.

“Feedback from participating schools and students has really proved that the competition is achieving its objective of inculcating the habit of hard work, improving studying and reading culture among the pupils and school,” he added.

The organisers noted that in the past 11 years, the Bishop has continued to equip the younger generation towards academic excellence by imbuing in them the habit of effective reading and writing.

On the achievements of the competition, they noted that it has helped participants to de-

velop more interest in research work, extensive reading and writing.

Entries for this year’s edition of the competition, the 11th in its series, which according to the organisers had since begun on March 3, will close on May 2.

Participants are expected to write on the theme: “The Power of Your Vote: A Catalyst for a Stable and United Nigeria.”

For emerging as winners, the schools of winners receive prizes ranging from desktop computers with printer to books, while those of the students range from laptops, cash to plaques.

However, the prize for the

second edition attracted a scholarship awarded to the overall best student for his tertiary education, as part of activities to mark the 60th birthday of the Bishop.

The star winner of this year’s edition will go home with three Internet ready desktop computer, a printer, a trophy, a laptop and N100,000 cash and a plaque.

The first runner up school gets two Internet ready desktop computers, a printer and cash prize of N75,000 with a plaque for the student, while the second runner school will receive an Internet ready computer, and the student N50,000.00 cash prize and a plaque.

Okonkwo presenting trophy to the winner of one of the previous editions.

EDUCATION

25

For the secondary school category, the essay should be a maximum of 2,000 words, to be submitted with a passport photograph of the student, with full name, address, contact telephone number, class, school and name and telephone contact of the principal.

The essay competition, which spans over a decade, according to organisers is geared towards developing and improving students’ writing skills towards national development.

The prizes for this year’s competition will be presented to the winners at the 15th Mike Okonkwo Annual Lecture, which is billed for September 4, at the Muson Centre, Onikan, Lagos.

The themes of the previous editions of the competition, according to the organisers are: “Securing the Nigerian Future: Improving the Standards of Education (2004 edition); “Building Leaders for Tomorrow a Collective Responsibility (2005 edition); “Lawlessness and the Rule of Law in the Nigerian Society (2006 edition); “Political Office and Governance: For Gain or Service? (2007 edition) and for 2008 edition, the theme was: “The Role of Judiciary in Sustenance of Democracy.”

The organizers added that the topics for 2009 edition was: “Global Economic Trend: The Alternatives for Nigeria”; “Nigeria @ 50: Its Leadership, Development and the Future (2010 edition); “Survival of Nigerian State: Political and Economic Implications (2011 edition); “Dependence of Nigeria Economy on Crude Oil any Alternatives?”

Bank adopts Lagos school, teaches pupils financial literacy Mojeed Alabi

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o mark this year’s Global Money Week, Diamond Bank Plc, has adopted a secondary school in Ajegunle Area, a rural community of Lagos, where top management of the bank for few hours taught the pupils financial

literacy’ The adopted school is Caro Favoured College, Awodi-Ora, Ajegunle in Ajeromi Ifelodun Local Government Area of the state.

During the exercise, Diamong Bank, one of leading financial institutions in the country, not only exposed the pupils

Lagos State Commissioner for Education, Olayinka Oladunjoye (2nd left), the winner of the 2014 Spelling Bee Competition, Olabanji Edun (3rd left), and other officials of the state government, during trophy presentation to Olabanji recently.

to good quality financial education, they taught them various topics relating to money management, financial literacy, building saving culture, and drawing scales of preferences, among others.

According to the bank’s Head of Retail Banking, Mr. Jude Anele, the exercise was borne out of the bank’s commitment to building capacity among the future leaders, in line of the financial inclusion policy of the Central Bank of Nigeria (CBN).

Anele, who represented the Bank’s Group Managing Director/Chief Executive Officer and who taught the children, noted that the lessons were designed to instill financial consciousness in the children in order for them to better manage money when they become adults.

Addressing the students’ concerns on how the bank can assist in financing their education, the bank’s Head of Consumer Propositions Group, Mr. Olumide Akindele said: “Diamond Bank is committed to helping you actualise your aspirations. Our primary focus today is to teach you how to manage money so

you can become financially independent adults. Just remain focused so that you will be adequately prepared when opportunities come your way.”

He assured the pupils that the bank has various educational products that will assist them fulfill their educational aspirations.

While expressing gratitude to the management of the bank for adopting the school and for the mentoring programme, the Proprietress of the school, Mrs. Caroline Ughamadu hinted that the school was happy to interact with the practitioners of financial institutions.

“What is being done today has further strengthened the hope of these young children with a great future, despite their background. We want more corporate bodies to emulate this initiative by partnering with private schools situated in less-privileged communities,” she added.

Deputy Senior Prefect of the school, Ndubueze Mercy, noted that the financial literacy training has broadened her understanding of banking operations.

26 EDUCATION | INTERVIEW

Wednesday, March 26, 2014

Group takes anti-child abuse to Lagos suburb Kayode Olanrewaju

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non-governmental organisation, the Centre for Children’s Health Education, Orientation and Protection (CEE-HOPE Nigeria) has taken its anti-rape message to Makoko, a riverine community of Lagos.

The team, led by CEEHOPE’s Executive Director, Betty Abah visited Whanyinna Primary School, one of the largest school in the community built on stilt-on-water, and which is one of the poorest neighbourhoods in Lagos.

The community is occupied mostly by fisher men of Ilaje, Ijaw stock, who were forcefully evicted from the area by the Lagos State Government.

The visit to the school, which was part of the group’s “Rise-Against-Rape-And-Abuse (RARA)” campaign, which lasted for about two hours, featured talks with pupils especially on how to identify and prevent potential cases of sexual abuse.

She said: “The RARA campaign is part of our programmes aimed at securing young ones from sexual abuse which you would agree with me has become very rampant these days. We use age-appropriate language to get the message across to the minors for them to be at alert, and avoid being abused and whenever they are they should report to the appropriate persons or authorities on time. This is because

Some pupils of the Otto-Ilogbo Academy displaying the exercise books presented to them. Behind them is Aunty Betty.

abuse thrives so well under the culture of silence and intimidation. In disadvantaged communities such as Makoko, the threat is even higher.”

According to Abah, the campaign which targets schools in poor neighbourhoods is starting in Lagos and Ogun with the hope to spread it to other parts of the country.

She regretted that Makoko currently has one of the highest rates of teenage pregnancies in the state, saying like other slums the rate of out-ofschool children is also high,.

Of the 55 million out-ofschool-children, Nigeria has the largest share with 10.8 million out-of-school children rate, according to United Nations

Educational, Scientific and Cultural Organisation (UNESCO) estimated.

Earlier the group visited Otto-Ilogbo Academy, a primary school in Otto-Ilogbo, another blighted community also in Yaba Local Government Area of the state.

The group not only took out time to interact with the students, but CEE-HOPE also offered scholarships to 10 pupils of the school as part of its Hope Harbingers Scholarship Scheme aimed at helping indigent, out-of-school children in targeted Lagos slums and other poor neigbourhoods.

The gesture was courtesy of a US-based Nigerian journalist, Mrs. Patience Akpan-Obong.

Meanwhile, the group earlier offered scholarships to 16 children in Ikotun, Whayinna Nursery and Primary School by a Nigerian based in Spain, Washington Eromosele and Abah, while a journalist based in Abuja, Mrs. Chinyere Fred-Adegbilugbe also sponsored the scholarship scheme in Iju-Ishaga as well as furnished the school in Otto-Ilogbo.

John Uwa, a PhD student at the University of Lagos and currently embarking on a research for the European Research Council, University of Sussex described the visits to the schools, as fulfilling and insightful.

His words: “My trip to Ma-

koko and other slums in Lagos has being the most adventurous in many years. The pastoral setting and life in Makoko is quite nostalgic. This could have accounted for the state government’s decision to demolish the place. I notice with pain that there is absolutely no government presence in Makoko.”

He described the anti-sexual abuse campaign as most timely, while Betty counseled and encouraged the young girls to know their rights and to report any form of sexual harassment to her, their parents or teachers.

Proprietor of the Otto-Ilogbo Academy, Comrade Agbodemu Ishola Musbau thanked the group for the visit and for the scholarship award.

He said: “We are appealing to the government and other NGO for assistance and development. They should provide us a mini-health centre, water and toilets. We want development, but the government must come in. The school offers free education for children in the slum as the N200 charged weekly by the school did not go down well with some parents due to acute poverty in the area, and as a result many of them have withdrawn their children from the school.

Exercise books were also given to the children under the Bring-Back-the-Book Initiative, as well as milk drinks from FrieslandCampian/WAMPCO, makers of Peak Milk.

SSANU cooperative society set to build secretariat

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he problem of lack of a befitting secretariat complex confronting Adekunle Ajasin University, Akungba-Akoko (AAUA), Ondo State, senior workers, under their umbrella union, the Senior Staff Association of Nigerian Universities (SSANU) will soon become a thing of the past.

Thanks to the turning of sod of the new Secretariat Complex funded by SSANU Cooperative Multipurpose Society (CMS) by the Vice-Chancellor, Prof. Femi Mimiko last week.

The Vice-Chancellor, who expressed delight at the development, said the move and initiative to the university is laudable, progressive and deserving all the support required to make it a success.

Mimiko described staff unionism as a very noble platform for ensuring mainstreaming issues relating to welfare of members, even as he expressed concern that “the mistake we have often made is that when we talk of welfare, we tend to see it from the perspective of what the next party is giving or intends to give to us; and therefore, so many people, when

Mimiko cutting the tape to inaugurate the new health centre complex. Inset: front view of the Health Centre.

they get into unionism, regard it as a battle ground. They erroneously see it as a forum to fight management or government.”

He praised the leadership of the SSANU Cooperative Multipurpose Society for coming up with such initiative

directed at using the resources and the resourcefulness of the union and its members to advance the welfare of its membership.

Mimiko, who expressed optimism that the project would be completed as scheduled, said: “I am delighted that this is a

follow-up to the successful experimentation of the Academic Staff Union of Universities (ASUU) CMS. After this, I strongly believe that some other cooperative societies on campus will request for land so that we can have more of this in place.”

Thus, the Vice-Chancellor urged SSANU CMS to ensure that the project attains global standard that would stand the test of time.

While insisting that all hands must be on deck to develop the university, Mimiko, therefore, sought the cooperation of the private sector operator, including cooperative formations, societies and clubs, to improve the infrastructure landscape of the university.

He pledged the readiness of his administration that the university would continue to do the needful to further advance the course of its workers, saying: “An organisation is as good as its workers. If the workers are not happy and not well trained, if they are poorly motivated and are harassed, you may not be able to get the best out of them.

CAMPUS | EDUCATION 27

Wednesday, March 26, 2014

Briefs

Council chair inaugurates board for advancement office

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he vision of Ekiti State University (EKSU), Ado-Ekiti of becoming a 21st Century world-class university has received a boost with the constitution and inauguration of a board for its newly established Advancement Centre.

The members of the board, who were selected from diverse professional and business backgrounds had expressed delight to be part of the new vision of the state university.

The Board was inaugurated by the university’s Pro-Chancellor and Chairman of Council, Emeritus Professor Akinjide Osuntoun, who listed part of board members’ responsibilities is to generate philanthropic support for the university, as well as to strengthen and deepen engagement of stakeholders in order to realise the university's strategic vision and mission.

Osuntokun added that the members will operate independently and with freedom to harness their resources and enlist others to attract financial and material support to the university in order to fund its various developmental projects.

The Vice-Chancellor, Prof. Oladipo Aina, thanked the board members for accepting the responsibility to serve the university in this crucial time of its developmental needs.

...EKSU don for symposium

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Professor of Political Science at Ekiti State University (EKSU), Kunle Ajayi, will join other eggheads in the academia between April 28 and 30, be at Addis Ababa, capital of Ethiopia, at the International Symposium on Governance and Security in Africa.

Ajayi, an expert in peace, conflict and governance is expected to present a paper on oil theft.

He was selected based on his paper entitled: "Piracy and oil Theft in the Gulf of Guinea: The Global Maritime Security Options and Responses.”

... Students’ union leaders take oath of office

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mid pomp and ceremony, members of the newly elected leaders of the Ekiti State University (EKSU), last week, at the Oodua Auditorium, Iworoko Road main campus of the institution took their oath of office, to be of good behaviour.

The swearing-in ceremony came after almost four years students’ unionism has been in the limbo in the university, following the proscription of students’ union activities on campus by the management.

The ceremony was said to have been attended members of the university management, academic and non-academic staff, as well as students, who turned out in their thousands to witness the return of students’ unionism on their campus.

Parents of the organiser of the show, Mr. & Mrs. Amusan. Inset: Sharon

JAMBITE wins OAU's most beautiful girl on campus Sikiru Akinola

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Part I undergraduate of the Department of Microbiology of the Faculty of Science at the Obafemi Awolowo University (OAU), Ile-Ife, Sharon Tomsek, has emerged as the Most Beautiful Girl on campus at the keenly contested beauty pageant.

Sharon defeated 13 others to clinch the much coveted crown at a grand final of the competition which took place at the famous Awolowo Hall of the institution.

The panel of the judges included the trio of Sotayo Sobola, Jide Martins and Ayodeji Ishola, who are students of Middlesex University, London.

According to the organisers of the beauty pageant and Director of Kings Group, a small entrepreneurial outfit which include the popular campus photo studio, Kingshotz Photography, Mr. Abimbola Amusan, said the need to bring about positive change in the soci-

ety, redirect the students’ energy and do things in a better way motivated him into the competition.

Amusan, a 400 Level Law student of the university, added that the motive behind the initiative was to correct the impression that beauty pageant was all about obscenity, and to encourage women to dress properly and exhibit sound moral values.

For emerging as the Most Beautiful Girl on campus, Sharon won herself a week trip to Dubai and a Nokia Lumia phone, as well as hair products from Fidu Beauty International, and make-up tools from Eso-Ara International.

The first runner-up, Jibola Latana, smiled home with a laptop, a Techno Smartphone, one-year make-up supply

by FM make-up and supply of body products by Eso-Ara International.

Expressing gratitude to the organisers, Sharon, who said she was surprised to emerge the overall winner of the

competition and noted that “it was like a dream to her,” praised the organisers for being transparent in the conduct of the exercise, and sincere throughout the period of the competition.

She, however, described the rumour that participants flirted with the organisers to ensure their victory as baseless, unfounded and calculated attempt to denigrate the contestants.

Speaking on the response of her church to her participation in the beauty pageant, the new Miss OAU disclosed that both her parents and the church supported her participation, and were proud of her.

“My parents only warned me not to be distracted in my studies. And of course, my church is very proud of me, they were all congratulating me on Sunday after the church service for winning the pageant," she said.

The father of the organiser of the competition and Executive Secretary of Ife-East Local Area Council, Modakeke, Mr. Wale Amusan, was among dignitaries who received awards in various categories including Excellent Community Service, and Young Entrepreneur Awards, among others.

Education students elect leaders Hammed Hamzat and Adio Badru UI

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ducation students, under the aegis of the Nigerian Universities Education Students’ Association (NUESA), the University of Ibadan (UI) chapter, have elected new leaders to steer the ship of the association for the 2013/2014 academic session.

The election exercise presided over by the Education Students’ Electoral Committee (ESEC) was conducted through the electronic voting system, a novel electioneering process in some campuses in the country.

No fewer than three contestants vied

for the position of the president from the Departments of Teacher Education, Kinetic and Health Education, and Special Education.

While announcing the results of the election, ESEC Chairman, Kazeem Ibraheem, a student of the Department of Library Archival and Information Studies, declared Olalekan Oladiran, a 300 Level student of the Department of Special Education as the President of the association, having polled the highest number of votes.

Oladiran polled 273 votes to defeat Adedeji Taiwo, a 300 Level student of the Department of Teacher Education and Abolade Oreoluwa, another 300 Level

undergraduate of Kinetic and Health Education Department, who polled 224 and 221 votes respectively.

Other elected officers include Halimat Agboluaje (Vice-President), Saheed Jimoh (General Secretary), Idoharia Eruaga (Assistant General Secretary), Christopher Iseo (Financial Secretary) and Tolulope Fagbeja, who is to serve as Treasurer.

The President of the university’s chapter of the Nigerian Association of Computer Science Students (NACOSS), Faruk Salami, who coordinated the election, said the software used for the process was designed by former President of association, Alabi Shina.

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EDUCATION | CAMPUS

Wednesday, March 26, 2014

OAU student powers car with solar energy Sikiru Akinola OAU

...Says poor academic performance drove him into innovation

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WENTY-Seven-year-old Oyeyiola Segun, a Final Year student at the Department of Electrical and Electronics, Faculty of Engineering, Obafemi Awolowo University (OAU), Ile-Ife has revived his father’s age-long and abandoned Volkswagen Beetle car, which he now powered using a combined solar and wind energy.

He said the initiative was not only to address the incessant fuel scarcity facing motorists in the country, but also as an environmental safety device.

To many, Oyeyiola’s innovation sharply contradicts his poor academic performance in which he is spending his ninth year for a five-year programme in the university.

Oyeyiola, whose father retired from the Audit Department of the university, has expressed concern over his poor academic performance.

“Even after I had gained admission, my first year results were so poor that my course adviser felt there was no way I could graduate from the department if I have to continue like that. I simply told him that my results represented my capacity.

He then advised me to reduce the number of courses I would take per semester so that I could handle them better, but that it would only elongate my stay on the campus,” Oyeyiola said about his academic performance.

Believing it may be difficult for him to secure good job without good grades, he feels he could have to use more of his brains and hands, to prove his efficiency and skills in other areas of human endeavour.

His words: “I am only a slow

S

Oyeyiola standing by the car

learner, but once I understand something, it would be hard for me to forget. And as someone who is interested in technology, I feel I could do more creative research into renewable energy and how cars could be powered without using gasoline that is more dangerous to the environment apart from the fact that it may soon be exhausted.”

Today, Oyeyiola has combined solar energy with wind turbine to power his father’s long abandoned Beetle car, believing that if adequately developed and harnessed, the initiative may save the country and the world by extension from the danger of depleting ozone layer as a result of climate change.

He explained: “It has taken me about five years to ensure that this car could move without using fuel. The long year is due

to several challenges because it took me more time to convince my father to release the car to me for the experiment, and the required funds to carry it out.

“I was able to raise the required N84,000 to purchase the solar panel through personal savings, while I picked other items from the refuse dumps until I was able to combine what I had gathered to make the start point.”

According to him, when he initially set the car out with the solar power, he recalled how he discovered that the energy he conserved could only move the car to a short distance due to its low power.

“At this point I had to resort to renting a battery from a roadside battery charger, which I decided to design a rotor for a fan that could use wind to power it,”

he added.

The introduction of the wind energy, according to Oyeyiola was aimed at taking over from the solar particularly once the car is on motion, since the wind energy alone could not move the car except it is powered.

He, however, told New Telegraph that what he had come up with was just a prototype that would require further support for optimum use.

Oyeyiola said: “The required battery capacity I would need for optimum required power is about 10 horsepower, but all I could get is just about three horsepower. There is need for more to be done but I have achieved one thing, and that is the fact that I am not a failure.

No matter the condition you may find yourself we shouldn’t allow it to weigh us down.”

UNILORIN students visit Kwara Assembly

The students in a group photograph with Atunwa

Hameed Muritala UNILORIN

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ome members of the Students’ Representatives Council (SRC) of the University of Ilorin (UNILORIN)

UNILAG students get N1.5m scholarships

Students’ Union last week paid a visit to Kwara State House of Assembly.

SRC Chairman of House Committee on Information and Enlightenment, Falusi Fisayo, said the visit was to observe the

sitting procedure of the House of Assembly with a view to learning more about legislative proceedings.

Led by their Speaker, Alawaye Kabeer, the student legislators were received by the Speaker of the state Assembly, Rt. Hon. Razaq Atunwa, who introduced the students to other lawmakers during the plenary session of the House, which began at 10 am.

At the end of the proceeding, the student legislators visited Atunwa in his ofice where he enlightened them on the workings, composition and functions of the lawmakers in the floor of the assembly.

The speaker explained that

the Legislative House consists of three groups of lawmakers; the rightists, conservatives and the leftists.

“The rightists are legislators, who always embrace and support the good ideas of the government; the conservatives are the set of lawmakers whose thoughts and ideas are not in line with the establishment of the government plans, while the leftists are in between,” he said.

Atunwa, who stressed that the three groups are formed on different political ideologies and interests, however, advised the students to engage in things that would enhance their legislative skills and challenges.

ix undergraduates of the Department of Surveying and Geo-Informatics in the Faculty of Engineering, University of Lagos (UNILAG), Akoka, Lagos, have become recipients of a scholarship award valued at N1.5 million.

The scholarship was awarded to them by FUGRO Nigeria Limited, an environmental business-related firm that represents a network of regional companies that collect and interpret data relating to the earth's surface and subsurface.

The beneficiaries of the scholarships are Azeez Sodiq Kayode (200 Level); Owoeye Tomiwa Eunice (200 Level); Okewusi Oluwapelumi (300 Level); Salami Tosin (300 Level); Osifeso Mowaninuoluwa Ibrahim (400 Level); and Akanbi Saheed Omotoyosi (400 Level).

Each of them received N250,000 for their excellent performance in their studies.

Speaking during the awards presentation ceremony, which took place on Akoka main campus of 52-year-old university, the Deputy Vice-Chancellor in charge of Academics and Research, Professor Babajide Alo, who stood in for the ViceChancellor, Professor Rahamon Bello, expressed gratitude to the company for what he described as its benevolence.

He further charged the company to expand its scholarship support beyond Engineering Faculty by doing more for the university in general.

The Managing-Director of the company, Professor Godwill Ofunre, in his remarks spoke of the need for Fugro and the ivory tower to establish a healthy working relationship in the area of acquisition of identified scholars in the Department of Surveying and Geo-Informatics to work with the company in the quest for high standard and practice.

UNILAG VC, Bello

CAMPUS | EDUCATION 29

Wednesday, March 26, 2014

Guinness warns UNILAG students against alcohol abuse

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s part of efforts to promote responsible drinking habit and guide against alcohol misuse among higher institution students, Guinness Nigeria Plc, manufacturers of Guinness Stout, Harp and other alcohol beverages, has taken the campaign against alcohol abuse to the University of Lagos (UNILAG), Akoka, Lagos.

The campaign, tagged; DRINKiQ is an interactive platform introduced by the company to enlighten students, especially the new intakes into the university, on the negative effects of alcohol consumption, with a view to equipping them with the relevant information on how to drink responsibly.

The, workshop was part of activities marking the orientation week for fresh undergraduates, organised by the management of the ivory tower.

Speaking at one of the sessions, Head, Sustainability and Responsibility, Guinness Nigeria Plc, Mrs. Adrianne Nwagwu disclosed that the objective of the forum is to contribute to the reduction in cases of alcohol misuse in the society as well as the effects of such abuse

on the people.

Mrs. Nwagwu, who reminded the students that it is important to make responsible decisions regarding, drinking of alcohol and urged the students not to allow peer pressure to lure them into drinking or alcohol abuse when they are not ready or mature for alcohol intake, however reiterated that the stipulated age for alcohol drinking in the country is 18

years and above.

According to her, “We must also avoid mixing different drinks in order to keep track of your alcohol intake and you must never be involved in drinking while driving,” she stated.

The Dean of Students’ Affairs, Professor Olukayode Amund, on behalf of the university management lauded Guinness Nigeria for its pres-

ence at the orientation exercise, stressing that “it is not often that we see manufacturers of alcoholic beverage such as Guinness has done today to come to the campus to educate students on the need for them to drink responsibly.”

“We are very pleased to have you here today and we look forward to a closer working relationship with you,” the Dean said.

Members of NANS during a recent protest in Lagos over increased LASU fees.

OAU Demography students take research to communities Kemi Busari OAU

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n partial fulfillment of their studies, the Part Three students of the Departments of Demography and Social Statistics, Obafemi Awolowo University (OAU), last week visited Ode-Omu, an agrarian community in Osun State, to conduct research on several non-communicable diseases such as cancer, diabetes and hypertension, among others, among the residents of the community.

The students, numbering about 114 under their course - Social Research Methodology (DSS 306), had during their three-day social research data gathering, interacted with members of the community including their traditional ruler, Oba Hammed Oke, through enumerations and administration of questionnaires on these non-communicable killer diseases.

On the essence of the research work, the Project Coordinator, Dr. Titilayo Ayotunde,

said the research work was aimed at putting into practice what the students had learnt in classroom.

He said: “Statistics have shown that non-communicable diseases claim more lives than communicable diseases. So, we want to know the perception, attitude, practices and knowledge of the people of Ode-Omu on diseases such as cancer, diabetes and hypertension and their effects on the people’s mortality rate.”

While welcoming the students to his palace and the entire community, Oba Oke expressed joy over the selection of the community for the project, and appealed to the students to be law abiding and focused in the research exercise.

“I want to welcome you on behalf on my people to my domain and I want to inform you to feel free conduct your research,” the monarch said.

The students, who were grouped into four students each, administered their questionnaire in Yoruba language

in order to overcome language barrier and give the people more sense of belonging in the exercise.

During the exercise, the students, who were equipped with scales, rules and sphygmomanometers, tested and measured the respondents’ blood pressure,

weight and height.

One of the respondents, Mr. Oyeniran Akinropo, a school teacher, in his remarks thanked the students for conducting the health-related research work on the people of the community, even as he said he was impressed about the exercise.

Some of the students in a group photograph with the Oba and his chiefs

NANS condemns students’ killing, rejects national confab Faith Olaniran FUTMINNA

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igher institution students, under the aegis of the National Association of Nigerian Students (NANS) Zone A, have expressed concern over what they described as the deteriorating security situation in the North Eastern part of the country, even as they condemned in clear terms the spate of killing of students by the Boko Haram insurgents.

Their condemnation was contained in a statement signed by the Chairman of the Communiqué Drafting Committee of the Zone at the end of their convention at the Federal University of Technology, Minna, Niger State.

Reacting to the rising wave of insecurity and spate of killings in the northern part of the country, Mohammed Yusuf, described as unfavourable some government policies as they affect the Nigerian students.

The students also rejected in its entirety the National Conference convene by the Federal Government, saying the composition of its membership was enough ground for its rejection in all quarters.

The association expressed shock over the activities of the Boko Haram insurgents in the country, which it said had found a new love in ruthlessly killing of unarmed, innocent and helpless students, even as NANS condemned “the inability of the government to carry out its constitutional responsibility of protecting the lives and properties of its citizens.”

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EDUCATION | CAMPUS

LECTURERS' FORUM

The making of anti-graft training school Remi Oyeyemi

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was at Keffi in Nasarawa State to see a friend. He was very enamored that Keffi is having a facelift and it is getting into its own as one of the “big towns” in the Northern Region. He lapsed into history concerning the importance of Keffi in the political equation of the north.

His optimism was based on what he perceived as the future role of Keffi as the host town to the new anti-graft training school that would soon have international acclaim, at least by his own estimation. He noted that with a dream and vision put in place by a former Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Justice Emmanuel Ayoola, to establish a training school for the purposes of fighting corruption “and for Keffi to be chosen as the host of the training school, there is no reason for not being optimistic about the future of the city.”

Justice Ayoola, who came up with the idea of establishing Anti-Corruption Training School during his tenure as the helmsman for the anti-graft agency had insisted, “for the battle to be successful, there must be community acceptance of what you are doing. You cannot fight corruption if you do not change people’s the attitude and culture.” Justice Ayoola believes that establishing the school was a step in the right direction of changing attitude and culture.

This anti-graft training school was a product of an education strategy to reach the cross sections of the Nigerian population. According to Mrs. Rashdeet Okoduwa, who was the pioneering boss of the Education and Public Enlightenment Department of the ICPC, “for us to educate one hundred and fifty million people, we would not go just out there and address them all at once as they come. We segmented them into professional sector, public sector, private sector, youth sector and educational sector. We also have segments for religious institutions and traditional set ups. We have the informal sector comprising the grassroots people, market women, the craftsmen, artisans and drivers in motor parks.”

This strategy seemed to be the progenitor of the newly founded ICPC Training School. The current Chair-

One of the school buildings

man of the Commission, Mr. Ekpo Nta, a lawyer, believes that carrying out the vision of Justice Ayoola in relation to the school is part of the preventive modalities than curing the malaise of corruption in the ongoing anti-graft war. Nta feels that the anti-graft training school is much more pertinent to its mission and expressed the hope that it would be the hub of anti-corruption studies on the African continent and create a standard that would be internationally acknowledged.

The stream of the curriculum is military in nature, while the kernel is civil and legal. Military discipline and greetings permeate the culture, while the studies are focused on systemic evaluations in relation to corrupt practices and modern modalities of identifying and preventing such. The process of investigation seemed to have a prime of place in the curriculum in order to be able to operate within the confines of the law.

The emphasis is placed on allowing the law to guide investigation, gathering of evidences and prosecuting the offenders. There is also concern about treating accused persons or suspects with respect while still being firm in enforcing the law. The age old dictum of an accused being innocent until proven guilty seems to be a fundamental. Prospective students come from the civil service, the private sector, the civil society, the Armed Forces and the Police as well as the ICPC employees.

The ICPC staff reportedly had often found themselves in a quandary as to how to manage situations with some of them coming off with injuries when they are out to make arrests. This training school is expected to fill in such gaps.

They would be prepared mentally and physiologically with bias for leadership skills.

The daily training schedule consists of morning drills, followed by classroom lectures and mid-morning breakfast around 12.00 noon. There is classroom lectures which resumes till 4.30 pm after which they are expected to be out for physical education which include lawn tennis, basketball, volleyball and other form of sports. The training is usually two weeks after which they are seconded to 177 Battalion to learn and practice shootings for another one week.

Wednesday, March 26, 2014

EDUPEACE with Mahfouz A. Adedimeji (08066372516, sms only)

Is Internet the new enemy?

T

he former Minister of Education, Dr Oby Ezekwesili, caused a stir in Abuja last week Wednesday when she addressed the participants at the 2014 Nigerian Economic Summit Group (NESG). While bemoaning the falling standards of education in Nigeria, she predicted that with the way things are, our education sector will be breeding highly-trained criminals and prostitutes by the year 2020.

The declaration sounds shocking. But the truth of the matter is that the future is here with us already, not just in 2020.

Everyone knows students commit all sorts of crime online and offline as cultists and non-cultists. It is not new that a number of female undergraduates are sex workers that increasingly constitute danger to themselves and their clients.

The “old school” is gone, but we need to bring it back. Gone were the days of innocence. Gone were the days of indirectness. Many lecturers have experienced female students who would approach them and tell them, “You are sweet”, with all the suggestive looks that go with it. A colleague cultivated the habit of going home early a few years back in order to avoid trouble. Female students would wear aromatic perfumes and dress seductively to his office in the evening telling him that he was handsome.

But the internet, which is the greatest invention since the William Caxton’s printing press of 1476, has taken the depravity of our youth to a higher level. That is why the thesis here is that perhaps the ingenious invention of Tim Berners-Lee (the internet) is the enemy.

Beware of the enemy!

The internet, of course, serves many positive uses that are well known. However, instead of using it for research, many students have reduced it to entertainment and socialisation only. Many students belong to a multiplicity of social media networks. They are on Facebook, Twitter, 2go, LinkedIn, Google +, MySpace, Instagram, and so on.

When they are not downloading or listening to some of the millions of music on Yahoo for example, they are busy watching all sorts of video on YouTube. More than three billion videos are viewed on YouTube every day. The viewers include 62.4 million Nigerian internet users, especially the students.

There are more netizens (internet citizens) in Nigeria today than in the UK as the Nigerian users increased by 200 per cent between 2009 and 2013.

With the attraction of the internet, there is little time left for serious learning. Rather than study hard and learn, many students are adept at “copy and paste” by which they download and plagiarize online materials outright.

Aristotle said the roots of education are bitter but the fruit is sweet. Our

youth do not want to taste the roots but they want to pluck the fruit, which is impossible. How do you make omelet without breaking an egg? How do you want the pearl without taking a deep dive? They want to make good results without hard work while forgetting that the only place where reward comes before work is the dictionary, where also success comes before toil. In actual life, it is an anachronism.

A private university recently banned its students from using high-end mobile communication gadgets like Ipad, Iphone and tablets in school and there was a lot of noise. It was an extra-ordinary measure to confront the extraordinary circumstances in which lecturers stand before the class and students quietly chat and ping away. Perhaps, the authorities of the university in question would not want technology to interfere with the students’ education the same way Mark Twain would not want schooling to interfere with his. Being "old school" is cool.

There is this poster that reads: “I am old school. I believe in having good manners, respecting elders and helping others when I can”. The new school presupposes having bad manners, disrespecting elders and being selfish and self-centred.

The attraction of the internet is the biggest DISTRACTION to education nowadays.

There are dangers on the internet which students especially and youth in general must be wary of. These dangers include pornography (which warps the minds and brains of the students so that all women become sexual objects), sexting (the unsafe ‘safe text’ of sending or receiving nude or semi-nude photos through the internet and cell phones), cyberbullying (the mean way by which people attack other people’s views online through hurtful words which cause depression) predators (people who play on emotions to “befriend” and ensnare their victims, leading to heartbreaks and financial losses), gaming (exposure to sexual media, crude language and violence) and hyper-networking (redefining privacy and internet over-dependency).

All these rob one of quality time for academic concentration.

To save the present and the future from criminals and prostitutes of the internet age, our education must imbue youths with righteousness. According to Michael Teal, “If there is righteousness in the heart, there will be beauty in the character. If there is beauty in the character, there will be harmony in the home, if there is harmony in the home, there will be order in the nation. If there is order in the nation, there will be peace in the world.” l Dr Adedimeji is a Senior Lecturer and Acting Director, Centre for Peace and Strategic Studies, Unilorin.

BUSINESS WEDNESDAY, MARCH 26, 2014

WHAT'S NEWS Nigeria, Vietnam compete over cassava export to China Two top cassava producers, Nigeria and Vietnam are in a race to capture China’s market.

NEW TELEGRAPH

www.newtelegraphonline.com/business

‘PUBLIC FUNDS WITHDRAWAL’LL MAKE BANKS FOCUS ON SMEs’ }p-33

AYODELE AMINU, DEPUTY EDITOR, BUSINESS

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

Nigeria among top importers of defence equipment

}p-32

Wema Bank's corporate identity: Seven years after In 2007 when it changed its corporate brand identity, Wema Bank set a target to be one of the top five financial institutions in Nigeria by 2010.

}p-35

Smugglers invade Idiroko border Statistics by the Nigerian Automotive Manufacturers Association (NAMA), the Nigerian Bureau of Statistics (NBS) and United Nations Conference on Trade and Development have shown that no fewer than 300,000 used vehicles and 100,000 new ones valued at N550 billion ($3.451 billion) were imported into Nigeria in 2012 .

}p-38

Customs revenue drops at Seme Border The Nigeria Customs Service (NCS), Seme Border Command, recorded low revenue in February.

It was revealed that the N628.4 million revenue generated was N154.8 million lower than what was generated in January.

}p-39

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

Founder, Trans4m Centre for Integral Development, Prof. Ronnie Lessem; Group Head, Non-Interest Banking, Sterling Bank Plc and author, Dr. Basheer Oshodi; Cofounder, Trans4m Centre for Integral Development and book reviewer, Prof. Alexander Schieffer and Chief Financial Officer, Sterling Bank plc, Abubakar Suleiman, at the launch of the book, ‘An Integral Approach to Development Economics,' in Lagos.

SECURITY Nigeria ranks third among African nations in importation of defence kits.

Bayo Akomolafe

T

op three importers of defence equipment, Nigeria, South Africa and Angola, are expected to absorb between 30 per cent and 40 per cent of all exports to sub-Saharan Africa from 2015 onwards.

IHS Jane’s Defence’s study revealed that sub-Saharan market has a diverse array of suppliers, with European, United States and Asian companies all competing for contracts.

In 2012, suppliers from Rus-

WOLE SHADARE, Aviation Editor

ABDULWAHAB ISA, Finance Editor CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter

tion, triggered largely by the conclusion of Uganda's landmark Sukhoi Su-30 'Flanker' fighter aircraft procurement in 2012. However, in 2013 their share was down to less than 25 per cent.

“Brazil's Embraer generated $125 million in sales for trainer

aircraft to Angola, Burkina Faso, Mauritania and Senegal.”

It noted that lack of indigenous industrial capacity would make Nigeria and Angola remain the region's largest spenders and the net recipients of foreign defence equipment throughout the decade.

Why short-term profit taking persists, by operators Chris Ugwu

O

perators on the Nigerian Stock Exchange (NSE) have blamed the short-term profit taking that has characterised the equities market in the past three

months on the activities of market speculators dominated by foreign investors.

The Chief Executive Officer, Modus Market Concepts Limited, Mr. Brian Ojukwu, in a chat with New Telegraph, said the exit of the foreign investors compared with investment in

the bond market, shows that average yield on equities is very low.

The management of the Exchange had said recently that year to date 2014, local investors’ participation in the marCONTINUED ON PAGE 32

Rates Dashboard

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

sia totaled $254 million sales for helicopters and China’s $166 million, ships made up almost 38 per cent of the import market.

It said: “While Sub-Saharan imports decreased from $1.2 billion in 2012 to $0.87 billion in 2013, this is a timing contrac-

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

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

EXCHANGE RATE

(Parellel As at Mar. 21)

USD . . . . . . . . . . . . . . . . . . . . . . N171 Pounds . . . . . . . . . . . . . . . . . . N284 Euro . . . . . . . . . . . . . . . . . . . . . N239

EXCHANGE RATE

(Official As at Mar. 21)

USD . . . . . . . . . . . . . . . . . . . N157.74 Pounds . . . . . . . . . . . . . . . N260.47 Euro . . . . . . . . . . . . . . . . . . N244.47

32

BUSINESS | NEWS

MOVING UP Nigeria accounts for about half of the global cassava harvest.

Bayo Akomolafe

T

wo top cassava producers, Nigeria and Vietnam, are in a race to capture China’s market.

Already, Nigeria has secured 3.2 million tons of dry cassava chips export from China.

Currently, the Vietnam's cassava output ranked among the top- 10 countries recording the highest cassava productivity, with 17. 6 tons per hectare worldwide, while Nigeria produces 60 million tons of the total 140.9 million metric tons in sub-Saharan Africa.

According to United State’s Food and Agricultural Organisation (FAO) report, about half of the global harvest is

Sanctity of Truth

Wednesday, March 26, 2014

Nigeria, Vietnam compete over cassava export to China from Nigeria.

It was learnt that Vietnam ranks second worldwide in cassava export to China and India.

Vietnam exported 3.1 tons of cassava and cassava- made products in 2013, earning $1.1 billion, a decrease of 25.7 per cent in volume and 18.6 per cent in value year on year, the report said, quoting data from the Ministry of Industry and Trade's ImportExport Department.

“In Nigeria, where the government has invested massively in the crop, cassava has already demonstrated its potential to replace imported staples,” said Luca Alinovi, head of FAO’s eastern and central Africa office.

It was noted that 80per cent of cassava production is consumed in Nigeria.

As the end of 2013, the country had six factories fuelled by dry cassava cuts producing bio-energy, and nearly 100 others processing cassava powder.

Besides, there are hundreds of small family-scale cassava processing mills. China is the largest importer of Nigerian and Vietnamese cassava products.

However, Vietnam earned only $946.4 million from cassava exports to China in 2013,

due to the decreasing demand as a result of the global economy's slowdown and Chinese ethanol industry's standstill with nearly 70 per cent of its factories being closed down.

In addition, Vietnam's cassava stockpile still remains high, while cassava supply from other markets like Thailand and Indonesia is huge, leading to tough competitive prices and declining demand on cassava exports.

Insiders have suggested the expansion of the domestic consumption market, saying it makes no sense to depend on the

global demand.

Nigeria is the first country in Africa to attempt to tap the potential of cassava for industrial starch production, with increasing investment from foreign-run starch processing factories supplying the global starch industry.

It hopes to copy the success of countries in South-East Asia, where a cassava-driven starch industry now generates $5 billion per year, employing millions of smallholder farmers and numerous small-scale processors.

Why short-term profit taking persists, by operators C O N T I N U E D F R O M PA G E 3 1

ket stood at over 50.72 per cent compared with the 49.28 per cent foreign participation.

Ojukwu said: “Foreign institutional investors seeking speculative opportunities now dominate our equities market.

Although when compared to domestic fixed income market, average yield on equities is very low. However, it surpasses what is obtainable in several advanced markets. The relatively stable exchange rate environment is an additional attraction for foreign portfolio investment in Nigeria’s financial assets.”

Other than, few domestic investors, several retail investors who are yet to recover from the crash of equities continue to shun the market. Several market operators and institutional investors who participated actively have also suffered deadly damages to their balance sheets due to the near crash of the equities market.

On why local investors have continued to shun the stock market, Ojukwu explained: “Domestic investors who were frightened by past events in the equities market now seek safety by moving their financial assets to fixed income securities.

He noted that domestic investment in the equities market, especially the primary market, can be remarkably improved if addressed from perspective of the macro economy through policies that will force down

inflation and interest rates to single digit. “This will enable yields on equities to become competitive against debt securities,” he added.

The Managing Director Crane Securities, Mr. Mike Eze, said that the present state of the market showed that “foreigners are not exiting per say, rather, what is happening is that they are taking away the profits, which they have made both in the equities market as well as in the bonds market.

Dansa Agro Allied Products Ltd, last week distributed oil palm seedlings to its host communties in Cross River State. Here, Governor Liyel Imoke (middle) hands over a palm seedling to a representative of the host community. With them is Sani Dangote, Chairman of Dansa.

Obiano to committee: Kick-start food revolution in Anambra NEW TASK Governor Obiano tasks committee on agric to turn the state into food basket.

T

he governor of Anambra State, Chief Willie Obiano, rounded off a busy first working week in Awka by charging the Committee on Agriculture to revolutionize food production in the state.

Agriculture, according to a statement from the Senior Special Assistant to the governor, is one of the four pillars of development upon which Obiano’s economic blueprint for the state rests. Inaugurating a new committee in Awka, the state capital, the governor challenged it to produce a comprehensive agricultural blueprint

with holistic recommendations highlighting medium and longterm targets that would eventually lead to sufficiency in rice, maize, cassava and poultry production in Anambra State.

Governor Obiano also reminded the committee headed

by Professor Emeka Omaliko, that Anambra was blessed with many hectares of arable land, which favours both dry and wet farming all year round. He charged them to advice on how to get the best out of the land.

Obiano said: “You were selected for your expertise and we want you to make specific and actionable recommendations that would enable us achieve set targets. To give you an idea, if currently Anambra is farming on one field, we want you to tell us how we can cultivate on hundred football fields effectively.”

We expect definite information

on how to advance agriculture in Anambra. Anyone who goes with the mindset or says “it is not achievable, is not welcome here and I won’t hesitate to throw the person out, but once you are ready to work, you will get all the support,” Obiano asserted.

The governor’s terms of reference for the Agriculture Committee include amongst other tasks: To prepare the agriculture blueprint for Anambra; prepare funding and financing model for agric; carryout any research necessary for the assignment; determine the current output of each of the target crops; map the state to determine areas where specific crops can be grown for optimum yield, determine gaps in the production of each of the four target areas, and what it would take to meet and sur-

pass the yield; create an effective monitoring mechanism to track the implementation of the agriculture blueprint; and identify donor agencies active in agriculture and how the state can collaborate with them.

Assuring them of his support, the governor urged the committee to get on with the task without further delay, stressing that agriculture is a cardinal pillar in his development plans for Anambra which must be tackled with dispatch.

He also informed the committee that his administration would increase the speed of getting Certificate of Occupancy in the state and set-up a one-stop shop for procurement and approval of relevant documents to encourage investors to come and engage in spin-offs from agriculture like agro-allied manufacturing and packaging.

BUSINESS | INTERVIEW 33

Sanctity of Truth

Wednesday, March 26, 2014

‘Public funds withdrawal’ll make banks focus on SMEs’ Ahmed Kuru was appointed Managing Director of Enterprise Bank Limited by the Central Bank of Nigeria (CBN) through the Asset Management Corporation of Nigeria (AMCON) on August 5, 2011. In this interview with the media, he spoke on how his team has repositioned the bank; implications of the removal of public sector funds and other issues in the industry and the economy. Ayodele Aminu was at the media parley. Excerpts: What is the time frame for the sale of the bank?

Right from the beginning, our mandate was to run the bank commercially. So, even when AMCON decided to sell the institution and they appointed financial advisers to assist them, we decided not to get distracted with what was happening. I can confirm to you that we are not part of the sale process. Professionals have been appointed and they are driving the process. What we are doing is to run the bank. Of course, the timeline was discussed with us initially, but like every other thing, there were issues pertaining to adhering to the timeline, particularly in this kind of environment. Initially, the target was the first quarter of this year, but because we started very late, what AMCON has said is that the process should be completed by October. For us, we are ready, everybody is welcomed. What AMCON decided to do was to leave the professionals to do their work such that there is no much interference. About 24 prospective investors have shown interest locally and internationally. A lot of them called us, including international financial institutions that showed interest because they have seen the figures and the financials and they strongly believe that the bank has potential.

Can you briefly tell us the financial status of the bank?

Since we came on board, we have been building the books on the average of 20 per cent yearly in terms of our deposit. In terms of risk assets, we have done over 80 per cent. When we came on board, our loan-to-deposit ratio was less than five per cent, but today it is in excess of 60 per cent because we are building our loan book. In terms of profitability, last year we closed in excess of N11 billion. Our rate of return on equity is also increasing.

Our return on capital, is one of the best in the industry because you may see some banks declaring N50 billion, N100 billion, but what we need to look at is what is the capital deployed. If I am able to declare N5 billion or N10 billion on a equity of N25 billion and somebody is declaring N100 billion on a capital of N100 billion, it tells you the efficiency ratio. Averagely, on a year-on-year basis, we have been building our books by 20 per cent. Because of the health of our financial figures and the achievements recorded so far, that was why AMCON picked Enterprise Bank as the first bank it wants to showcase and to divest.

The level of interest that has been shown shows that what we have achieved so far is commendable. Generally, if you look at the health of our risk assets, it is also solid.

You look at the character of the customers and the active accounts. We have almost 160 branches. The way banking is today, it is not the number of branches that matters anymore. Banking now gradually is electronically driven and what we try to do is to take banking services into the office of the customers. So, most of the branches that we have, we are trying to make them more of e-banking to such an extent that from inside their offices, customers can scan documents, they can go to the internet and they can give you instructions without necessarily coming into the banking hall. In fact, most banks, what we do is to come up with incentives to encourage people to use

their ATM machines, to use their electronic cards, so that they don’t necessarily need to come into the banking hall.

Kuru That is why the cashless policy is being supported strongly by the banking community because it will bring down the cost of operations.

Operational cost is very high in the industry today. That is what is contributing to the high interest rate. So, if we are able to share services, bring down the operation cost and take our services to the customers, obviously it will bring down the cost of financial services.

What is your loan target for the year?

When we started, we started with an operating loan book of less than N5 billion in 2011. We have grown it to around N76 billion. Last year, our target was to do around N100 billion. We are a small bank; we don’t want to go back to the old days, so we are very conservative when it comes to building our loon book. This year, we intend to grow our loan book to around N130 billion because we believe that is what will support our balance sheet. But we are also very careful in diversifying our loan portfolio. Now, it is very easy if you want to build your loan book. For example, in the oil and gas sector, you can do that in one month with one transaction. But for a retail bank, you are trying to build the small loans and the small loans, which we normally sell through products, take a longer time. This is because we are talking about N10 million, N5 million, lease and so on. That takes a longer time. But these loans usually perform because the irregularities are not up to five per cent. We have a lot of products to support our retail banking strategy.

Where is Enterprise Bank’s strength?

Really, our revenue strength, just like most banks in Nigeria, is from lending because that is the core line of our income. We do have a lot of income that comes from fees and commissions, but ultimately if you go through the balance sheet of most banks, between 60 per cent and 80 per cent of the revenue base is from lending. So, we are not an exception. We make more money from lending even though quite a lot of fees and commission do come either from foreign exchange transactions and treasury activities, but basically, lending is where we make more revenue.

If you collect N1 billion of any government deposit, N750 million of that money will be kept somewhere at zero interest rate

On public sector funds, for us before now, it was sort of cheap funds because there are no strings attached to them and usually you keep them in current accounts and it gives you a lot of leeway to have a lot of resources or to lend. So, many banks - some of the big banks and some of the small banks; realised that the composition of their deposit profile had a lot of public sector funds.

Whether we like it or not, in Nigeria, government plays a key role in our economy. They are the major source of liquidity in the economy. So, banking with public sector funds used to be very profitable because it gives you the cash flow. Obviously the increase in Cash Reserve Ratio (CRR) would affect the investible cash flow that you have. At 75 per cent CRR, what it means is that if you collect N1 billion of any government deposit, N750 million of that money will be kept somewhere at zero interest rate. Meanwhile, it is also part of your balance sheet. So, there are lots of other benefits that usually you get if a deposit is part of your balance sheet, but now it works on the reverse side. So, definitely it will affect the cash flow that we have. But I can also tell you that it is a welcome idea. It is something that the banking industry can also deal with. What it means is that we now have to refocus and re-strategise and go after the small businesses. If you recall, the level of financial literacy in Nigeria is less than 60 per cent, which means that there is still room to grow in other sectors. What is happening now is that most banks have gone to the drawing board to see how to compensate the exclusion of 75 per cent public sector funds from the funds that they have to play around with.

Which of the policies of the CBN greatly affected your operations, either positively or negatively?

Well, one can selfishly say the Cash Reserve Ratio (CRR). This is because it had taken money that typically is free, away from me. If I have N50 billion, which typically I was earning money from and you take it out, definitely there is an income loss to me. So, from a selfish perspective, I think that is a major policy that has affected us in the industry. But from professional perspective, I think it is something that is necessary and something that we have identified with because in the last couple of years, what the CBN does is that, most of these policies they bring it to the Bankers’ Committee, we discuss, agree, and some we don’t agree. Sometimes when you have the urge to make profit and you look at the larger economy, then you can see sense in some of those actions.

34

BUSINESS | INVESTOR

Sanctity of Truth

Wednesday, March 26, 2014

makers were appointed on April 4, 2012. The market makers as announced by the NSE are Stanbic IBTC; Renaissance Capital; Future View Securities; Vetiva Capital; ESS/DunnLoren Merrifield; WSTC; Capital Bancorp; FBN Securities; Greenwich Securities and CSL Stockbrokers.

Onyema said: “This is a great milestone and a major step in the direction of turning the market round to bring liquidity and depth back into the market. We will continue to move forward on this.

“The companies selected went through a very rigorous process and met the minimum net capital requirement of N570 million; we also examined their compliance history and looked into their operational capabilities including their technology and processes.”

STABILISERS Market makers act as stabilisers during shortage or excess securities.

Chris Ugwu

W

ith the impressive performance in those hay days, Nigerian Stock Exchange attained the lofty distinction as the leading emerging market in terms of growth and return on investment.

The significant performance led some notable rating agencies such as Standard & Poor’s and the International Finance Corporation (IFC) to grade the local bourse as one of the best in terms of return on investment among the emerging markets.

But the bear like a bolt from the blue ravaged the equities market, bringing the barometer that measure market indicator, the All-Share Index, to deplete below 20,000 basis points in March 2009, from a peak of 66,000 basis points at the same time in the previous year.

The major reverses which befell the Nigerian capital market with the meltdown in the global financial system are still here with us as many institutional investors and individuals are still leaking the wounds of the losses of their investments.

Though the regulatory authorities took certain measures, some of which are commendable while some can only be taken with a pinch of salt, in an effort to redress the situation, there are certain other critical issues which touch at the core of the problem which have not been addressed such as the issue of market makers.

Some market pundits believe the stock market meltdown took an alarming dimension because of the absence of market makers.

Role of a market maker A market maker is a dealing firm who maintains firm bid and offer prices in a given security by standing ready to buy or sell that security.

All over the world, market makers play a very important role in both the equity and bond markets. They stabilise the market by standing ready to intervene at moments of scarcity or excess supply of securities. It is naïve, unrealistic and detrimental to investors to operate an automated stock market without the active participation of market makers.

Previous initiatives The Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) had, in 2009, during the administration of Professor Ndi-Okereke Onyuike, released common criteria for licensing of market makers in Nigeria.

The criteria, ostensibly a response to the global financial meltdown, were formulated to be a part of a composite strategy of brief relief to investors and prevent a total meltdown of the stock market.

Among other things in the criteria, was

Aruma Oteh

Market makers and volatility of equities that the company wishing to be a market participant or market maker must have a minimum paid-up capital of N2bn, in addition to being able to maintain a minimum float of N10 billion at all times.

However, the Securities and Exchange Commission (SEC), had in 2009, introduced market makers to help provide the much-needed liquidity in the market to enhance the trading activities in the stock market.

To this end, six firms were registered as market makers, namely Chapel Hill Denham, Diamond Capital & Financial Market Limited, a subsidiary of Diamond Bank Greenwich Advisory Services, a member of the Greenwich Trust Limited, BGL Limited, Value Capital Limited and Vetiva Management Limited.

Meanwhile, since the registration, operators noted that nothing feasible happened as these market makers are yet to commence their roles, adding that the full operations of this rescue initiative was urgently needed to boost the market.

But the Nigerian Stock Exchange said that the market makers would not commence operations without evidence of liquidity providers and licenses from the NSE. Okereke-Onyiuke stated that all companies desirous of becoming market makers must demonstrate to the NSE that they are proficient in capital market activities and must pro-

vide evidence of a liquidity provider such as a bank, adding that without the provision of a liquidity provider, such company would not be licensed as market maker.

Current efforts The NSE’s attempt to help deepen the equities market had resulted in the self-regulatory organisation taking the giant stride with the inauguration of 10 market makers on the floor of the Exchange.

According to the NSE Chief Executive Officer, Oscar Onyema, who regarded the development as another milestone in the history of the Nigerian capital market, the 10 stock broking firms were selected from a list of 20 that had applied last year.

In preparation for the commencement of the programme, 10 market

It is naïve, unrealistic and detrimental to investors to operate an automated stock market without the active participation of market makers

Operators’ evaluation Though the initiative has lifted the stock market significantly, operators believed that the performance would have been better but for some challenges which include lack of funds on the part of some market makers to move the market as expected and investors’ apathy on the equities.

The Chief Executive Officer of Lambeth Trust & Investment Company, Mr. David Adonri, said that the exercise has been successful, adding that as a result of market making, volatility of the equities market has reduced while it has contributed in bridging the supply gap in the retail bonds market.

He noted that for the programme to take firm root in the capital market, it must have capacity to meet shortfall in supply and satisfy demand in situations of extreme volatility.

However, the recent downturn movement of stocks which have sustained for three weeks raises concern on the impact of the market makers on the local burse.

Sir Sunny Nwosu, president Independent Shareholders Association of Nigeria (ISAN), said that the impact of market making has not been felt in the equity market, otherwise the bear run that has characterised the trading activities recently would have been averted.

Nwosu noted that there was still a lot of gap in the equities market that investors are yet to take advantage of, adding that many stocks in the market have very good net asset value, but that their current price on the floor of the exchange was far below their net value.

Also, Chairman, Progressive Shareholders Association of Nigeria agreed that there is little or no impact on the market since the appointment of market makers.

“Market makers have not impacted positively on the activities of trading in the local bourse; we all can see the rate at which activities are dwindling in the stock market. One should have expected that the good financial released by Fort Oil and Zenith Bank will ginger market activities, but the shares of these companies are still trading low,” he said.

BUSINESS | BRANDS & MARKETING 35

Sanctity of Truth

Wednesday, March 26, 2014

Wema Bank's corporate identity: Seven years after UNFULFILLED It appears the impact of change in corporate identity by WEMA Bank has not been felt by many seven years after Dele Alao

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n 2007 when it changed its corporate brand identity, Wema Bank set a target to be one of the top five financial institutions in Nigeria by 2010.

Speaking at the unveiling of the new identity, the then Group Managing Director/ Chief Executive of the bank, Mr. Adebisi Omoyeni, said that the bank has just entered an era of corporate rebirth and quantum growth.

Also in his address, the then Chairman of the bank, Alhaji Olapade Mohammed, said that the re-branding of the bank was not only in name, logo or other icons, but also in processes, customer care and service delivery.

For the purpose of establishing a distinctive brand, he said that the bank engaged the services of world-class professional brand consultants, renowned marketing communications consultants and top advertising firms, including Enterprise IG of South Africa and Bates Cosse Limited.

“We also constituted a strong brand committee headed by a top management staff,” he said.

The choice of Wema Bank’s colours and elements of the

CAMPAIGN Diamond Bank flaunts new name before its customers in new television commercial

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iamond Bank Plc has launched a television commercial (TVC), underlying its new image as “A New Bank.”

The 30-second commercial features Bovi, a popular Nigerian stand-up comedian, saving the day for some bank customers who are being frustrated by the poor quality of service from their banks, ingeniously referred to as “the bank down the road.” Dressed in Diamond Bank colours, Bovi, addresses each complaint with a corresponding solution from Diamond Bank and advises the obviously

Wema Bank Corporate Head Office, Marina, Lagos.

logo, it was learnt, are fundamentally premised on the philosophies of “our brand.”

“The purple depicts the royal elements of the brand while the gold indicates wealth, both as creators of wealth and custodian of the collective wealth of the people. The logo is styled like a shield made out of an African basket, which is traditionally a carrier or receptacle. This symbolises the bank as a carrier or repository of wealth, culture and heritage. It also represents reward for success, steadfastness and enduring achievements,” the bank explained.

On the purple line philosophy, the bank said: “The purple line is a driving philosophy that seeks to showcase to the world, our unique type of banking which is based on creating and nurturing enduring, value-adding relationships with all stakeholders The purple line is all about creating and nurturing relationships through professionalism, trustworthiness, service

excellence, mutual respect, integrity, accessibility, teamwork, innovation, focus, dependability and much more.”

“It seeks to position us as proponents of a new brand of banking; it seeks to tell our story in a way that highlights the major reason we have survived since 1945 and will continue to shape our way of doing business going forward,” it added.

As it were, four years after the 2010 target, especially in the area of branding, many believe that the target is yet to be achieved.

For instance, Chief Creative Officer, Brand Aristotle, Odili

I can’t remember, in all honesty, that Wema brand is still existing. The brand is laid back and only exist as an institution.

Segun Oloketuyi

Ujubuonu, said the bank identity is beautiful at best but not visible.

“However, its brand is not visible and its message is soulless, therefore not memorable,” Ujubuonu said.

Also, the managing director, Luzomedia, an outdoor concern, Bidwell Okere, said: “I can’t remember, in all honesty, that Wema brand is still existing. The brand is laid back and only exist as an institution. Her equity as a brand is highly eroded and need to be awakened.”

Also, a private business owner, Biola Balogun, asked if the bank still exist.

According to her, the bank has failed to catch up with modern trends.

A senior media manager in a Lagos-based public relations firm, Dare Oguntoyinbo, said: “Well, I think Wema has gone

Diamond Bank turns ‘new bank’ in TVC relieved customer to make a switch, with the catchphrase: “You need a New Bank.”

The TVC opens with Bovi chancing upon a customer who was worried about issuing a cheque, presumably for goods bought from the store where the scene was shot.

The customer complains about the huge COT and other bank charges for such a small service, as the salesman harangues him to write the cheque. Bovi walks up to them, presents the man with a Diamond Bank cheque book and advises: “If you’re not getting the best from your bank, you need a new bank.”

The next scene is at a restaurant. A disheartened lady complains over the phone that it appears one needs to know an insider in a bank to get a

loan. Bovi intercepts her meal from the waiter, joins her at the table and presents her with a loan application leaflet. As he makes his exit with a flourish, he tells her: “If getting a loan from your bank isn’t simple, you need a new bank.”

The final scene is in an office. Bovi walks in with a mop stick and cleans his way to the table of an exasperated executive who is having challenges completing an online transaction. He sits down and smiles as the startled executive slams the laptop shut. Bovi empathises with him, offers him a Diamond Bank debit card and advises: “Well, if you can’t make payments anywhere, any time, you need a new bank.”

Head, Corporate Communication, Diamond Bank Plc, Mrs. Ayona Aguele-Trimnell,

said that the new TVC is refreshing in the clarity of both the message and picture quality. Particularly worthy of note is the pot shot at the “bank down the road,” easily deduced to be other competitors in the market space. Bovi and his party complete the description with gesticulations.

“We are delighted at the launch of this TVC which highlights the new thinking in Diamond Bank as a new bank. As a new bank, we are committed to introducing innovative and customer-focused solutions that demonstrate our dedication to growing our customers and their businesses across all walks of life,” she said.

The new TVC is already being aired by television stations across the country as well as on online channels.

through some challenges which were staggering. However, I want to believe they have gone by the curve and getting better.

I think they have also improved on their marketing communications as evident in some of their radio jingles. Despite this, I think more can be done in terms of ‘keeping themselves in the face’ of their existing and prospective customers.

“They can do a bit more in the area of sponsorship amongst other innovative programmes that could bring unique experiences to their consumers,” he added.

Meanwhile, the bank, widely regarded today as the longest surviving and most resilient indigenous Nigerian bank, said it currently boasts of both financial and nonfinancial subsidiaries, which have been fully integrated into the corporate objectives and culture of the bank.

Proud of its business pedigree and backed by a burgeoning domestic franchise, checks showed that Wema Bank has built robust and rewarding relationships and business alliances with various correspondent banks around the globe.

These positions Wema to offer efficient banking services to its customers within and outside Nigeria. These correspondent banks include Citibank, HSBC, Standard Chartered Bank (London), Lloyds Bank, ANZ Banking Group, BHF Bank (Frankfurt) and Union Bank Plc (London).

With a distinctive industry brand, the bank said it offers a full range of financial services to a select clientele that include commercial and consumer banking, institutional banking, corporate finance, retail banking, trade finance and foreign-exchange operations, among others.

“The bank maintains a broad client-base comprising government parastatals and agencies, small and medium-scale enterprises (SMEs), middle-tier to multinational companies and diversified business enterprises whilst also ensuring different sectors of the Nigerian economy from telecommunications, manufacturing, agriculture, food and beverages, oil and gas industries, construction, are impacted,” the bank said on its website.

Efforts to get the spokesperson for the bank Otega Ogra, to respond to the issues raised above, proved abortive as he refused to pick his calls.

36 BUSINESS | BRANDS & MARKETING

Nobel Carpet launches Wow Effect BOND Nobel Carpets and Rugs connect its customers in another round of engagement

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esign enthusiasts and consumers are in for another round of aesthetic engagement from Lucky Fibres Plc, makers of Nobel Carpet and Rugs, as it flags off its innovative “Wow Effect” promotion in Lagos.

General Manager, Nobel Carpets, Kunal Malhorta, said that the ground-breaking promotion drive was aimed at satisfying the yearnings of consumers by ensuring they get the most fashionable and trendy rugs.

He added that getting the “Wow Effect” would enhance their public and private do-

mains by creating a pleasant ambience, which hard floor coverings cannot offer.

“We are trend-setters in the rug business. That is why our promotion drive will see us flooding the market with an array of beautiful rugs that boast eye-catching designs, making the regular home or office a place worth coming to on a daily basis,” he said.

On his part, Nobel Carpet’s Sales Manager (South Zone), Aditya Shukla, said rugs will always remain an easy-to-use classic that gives homes and offices a unique look and feel, depending on the designs they come with.

“There is also the issue of safety since rugs are safer than other hard floor coverings like tiles and wooden floor, especially for homes where kids play on hard sur-

faces and have the tendency to trip and fall. That is besides the comfort and style that have always been associated with every rug from the stables of Nobel Carpets,” he said.

Meanwhile, this promotion will also give consumers a chance to share their ‘WOW’ experience with Nobel Carpets and the general public through platforms specially designed for that purpose.

NOBEL Carpets has factored in a seamless, easy and effective way customers can adopt in purchasing their favorite rugs from the comfort of their homes. “We want to give our consumers a say on what ‘trendy and gorgeous’ means to them. But on our part, we will continually ensure each of our rug remains a beautiful and unique artwork, a matchless piece of craftsmanship,” Malhotra said.

Sanctity of Truth

Wednesday, March 26, 2014

Coca-Cola leverages on 2014 World Cup PROMO Coca-Cola to sponsor 22 consumers to World Cup

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IFA partner, Coca-Cola Nigeria, has begun its Brazil 2014 World Cup campaign, which will see 22 lucky Nigerians winning tickets for an all-expense paid trip to watch the Mundial.

The campaign is scheduled to run from this month to July.

Officials of Coca-Cola said that part of the FIFA World Cup campaign is a national consumer promotion, an ‘Under the Crown’ event with lots of prizes from the beverage company.

Aside the 22 winners of the Brazil trip, many other prizes are at stake for consumers, officials of Coca Cola said, adding that to qualify for the draw, interested consumers can purchase bottles of Coke, Fanta or Sprite (35cl & 50cl RGB) and look under the crown corks for their prizes.

“Consumers with crown corks carrying “BR” and “AZ” and “IL” should package the crown corks with their names, addresses, mobile number and signature written on the package and submit them to clearly marked submission centers nearest to them.

“Weekly draws will be held for eight (8) weeks, and winners announced every Sunday on NTA Newsline. Consumers whose crown corks show an instant gift can redeem them at designated redemption cen-

ters within their locations,” officials said.

While explaining the available prizes for the promo in Lagos, the Project Manager for the National Consumer Promotion, Toyin Nnodi, said there are lots of prizes to be won.

“Forty-four winners will cart away 55-inch TV and Home theatre system; and sixty-six (66) winners will also take home the 2014 FIFA Play Station game set,” she said.

For winners of the instant prizes, we have 15,000 jerseys, 20,000 footballs, 45,000 drawstring bags, and over 1 million free drinks.”

She added that the Brazil 2014 World Cup campaign comprises five phases to engage the consumers, including: The qualifier campaign, anthem seeding, national consumer promotion, a shopper promotion and the media broadcast of the FIFA World Cup games live form Brazil.

Also speaking at the unveiling of the campaign, Marketing Manager Colas for Coca-Cola Nigeria, Bolajoko Bayo-Ajayi, described Coca-Cola as the ideal brand to connect consumers with the best global soccer entertainment.

“As a FIFA partner, CocaCola, the world’s happiest and most inclusive brand, gives consumers the World’s Cup. Coca-Cola has always been a fan of football, both internationally and here in Nigeria; we have been refreshing Nigerians and this is another platform to do what we do best,” she said.

Heineken fetes trade partners L-R: British Economist, Terence James O’Neill; Managing Director and Chief Executive Officer, Airtel Nigeria, Segun Ogunsanya; Arsenal Legend and Ex-England player, Ray Parlour and Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina at the unveiling of the prestigious Airtel Premier Club in Lagos.

Firm promotes healthy garri consumption

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etermined to rid the country of consumption of unhealthy popular local staple food, garri, Balkeem Nigeria Limited, producer of a packaged nutrient-enhanced cassava flakes, called Ijebulawa garri has embarked on aggressive campaign.

The campaign is aimed at sensitising consumers on the danger of consuming unrefined garri, which is not healthy.

According to the Managing Director, Balkeem Nigeria Limited, Mr. Akeem Salami, the campaign is to change

peoples’ attitude towards taking unrefined garri.

“We are on campaign whereby we inform consumers on the need to discontinue the consumption of unrefined garri,” he said.

He added that the company would not rest until the consumption of unhealthy garri is drastically reduced or eradicated completely.

Ijebulawa, he said, has been produced under hygienic condition with the National Agency for Food and Drug Administration and Control (NAFDAC) certification.

He said that Ijebulawa, “a truly Nigerian brand of packaged ready-to-eat garri” is an answer to the rising desire to raise the profile of Nigeria’s locally-manufactured products.

Salami said the firm’s desire to venture into the production of refined packaged garri in commercial quantity was borne out of its genuine passion to tap into the on-going campaign by government to grow the economy through manufacturing of locally-made products benchmarked against international standard.

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oised to give its trade partners a premium and unforgettable experience, Heineken, the world’s most international premium beer brand, unveiled the UEFA Champions League Trophy to her elite distributors at Eko Hotel and Suites, Lagos.

Speaking at the special trade event, Sales Director, Nigerian Breweries Plc, Mr. Hubert Eze, said that the Champions league trophy tour in Lagos is part of the Heineken brand’s unique activities designed to interact and engage with consumers aimed at reinforcing the brand’s position as a premium brand and leader in its category.

“The UEFA Champions League has a long and distinguished heritage and is the pinnacle of European club football.

The Trophy Tour really demonstrates the true global reach and appeal of the UEFA Champions League. We are delighted that together with UEFA we can reward the passion and dedication of football fans around the world by taking the trophy to them,” Eze said.

He added that each year during the UEFA Champions League season, “Heineken strives to ignite fans conversations. This year’s UEFA Champions League Trophy Tour brings football fans around the world closer to action in an unexpected and surprising way, enabling them to interact with Heineken and the tournament. As we get closer to the final, we will continue to engage with fans by offering legendary brand experiences.”

BUSINESS 37

Sanctity of Truth

Wednesday, March 26, 2014

EU to fund NIMASA, other maritime administrations Bayo Akomolafe

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he Nigerian Maritime Administration and Safety Agency (NIMASA) and other African maritime administrations are to benefit from the European Union’s (EU) euro 1.2 million grant for training and capacity building.

The contract was signed two weeks ago and its implementation commenced last week between EU and the International Maritime Administration (IMO) for African, Caribbean and Pacific Group of States (ACP) to support training and capacitybuilding activities aimed at enhancing Flag State

implementation and Port State Control in Western and Central Africa.

In a statement by IMO, the capacity building programme is to upgrade the region’s maritime administrations and prepare its states for the mandatory IMO audit scheme.

There will also be a focus on Port State Control

such as training for ship inspectors in order to support the functioning of the Memorandum of Understanding on Port State Control for West and Central African Regions (Abuja MoU), which is an inter-governmental organisation comprising the maritime administrations of countries abutting the

Atlantic Coast of Africa.

It was revealed that IMO will be executing the two-year programmes, identifying the individual countries’ needs in terms of enhancing their capacity to carry out their flag State responsibilities.

The capacity building is also in line with the Af-

rican Union’s Maritime Charter and the 2050 Africa’s Integrated Maritime Strategy (2050 AIM-Strategy) that was developed with the collaboration of IMO and formally adopted by the 22nd African Union Assembly of Heads of State and Government on January 31, 2014, in Addis Ababa, Ethiopia.

It is anticipated that the project will lead to the maritime administrations being audited in accordance with the IMO Audit Scheme, which is expected to become mandatory in 2016 following the adoption and entry into force of amendments to the relevant IMO instruments.

The focus of the capacity-building activities will be on compliance with the IMO Instruments Implementation Code (III Code), which provides the global standard to enable states to meet their obligations as flag, port and coastal states.

Jonathan, others win maritime awards

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resident Goodluck Jonathan (GCFR) and some stakeholders in the maritime industry have emerged the National Evergreen Merit Awards Administrator of the Year for 2013.

The president was declared winner of the coveted award after seven hours of marathon meeting by the nine- member planning committee.

According to the awards planning committee, National Maritime Evergreen Merit Awards was instituted in 2008 by People’s Forum newspapers to promote culture of excellence in the Nigerian maritime industry.

However, the promoters of the awards have changed the name to National Evergreen Merit Awards to accommodate other sectors of the Nigerian economy and promote culture of excellence and good leadership in the country.

38 BUSINESS | MARITIME

Sanctity of Truth

Wednesday, March 26, 2014

Smugglers invade Idiroko border The Idiroko border has become the hub of smuggling.

Government is said to be losing billions of Naira as unscrupulous businessmen are exploiting the new government’s auto policy to smuggle hundreds of used vehicles daily through Ogun State, BAYO AKOMOALFE reports

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tatistics by the Nigerian Automotive Manufacturers Association (NAMA), the Nigerian Bureau of Statistics (NBS) and United Nations Conference on Trade and Development have shown that no fewer than 300,000 used vehicles and 100,000 new ones valued at N550 billion ($3.451 billion) were imported into Nigeria in 2012 .

Study also revealed that the Nigerian automotive industry has the potential to create 70,000 skilled and semi-skilled jobs along with 210,000 indirect jobs in Small and Medium Enterprises.

But smuggling through Nigeria borders has remained a snag due to insufficient government protection policy.

It was learnt that over 300 used vehicles are being smuggled in the night illegally through the Idiroko border in Ogun State since the Federal Government introduced a new auto policy.

The new policy stated that imported Fully Built Unit (FBU) vehicles shall attract 35 per cent duty and 35 per cent levy or cumulative 70 per cent charges.

The Chairman, Association of Nigerian Licensed Customs Agents (ANLCA) Idiroko border chapter, Timothy Abel, noted that since that policy was introduced by government, smuggling of vehicles through Idiroko border had

Minister of Finance, Ngozi Okonjo-Iweala

CG of Customs, Abdulahi Dikko

assumed a worrisome dimension.

He alleged that the illegal business was perpetrated at night with the help of customs officers.

“The Customs officers prefer to attend to smugglers than to attend to customs clearing agents because they can get immediate money into their pockets rather than the ones that will go to government purse,” he alleged.

The chairman also said that dutiable goods were smuggled through the border.

He blamed the high rate of smuggling on high duty rates of cars, saying the duty and charges should be reviewed downward to encourage honest declaration.

Abel said that the Federal Government would continue to lose revenue while car smuggling activities continue to thrive at the border with the numerous illegal routes that surround it.

He added: “Unlike Seme that is only covered with two routes, Idiroko is not like that. Idiroko’s porosity is too much because there are lots of routes.”

Importers feared that smuggling of cars would escalate due to increase in customs duty from 20 per cent to 70 per cent.

Chairman of Auto Splash Limited, Mr. Harrison Okwudili, called on unions and associations involved in the clearing of vehicles from the seaports to have a mutual understanding that will move the automobile industry forward.

Okwudili said that the new policy on vehicle means well for the country, but added that the timing is what most Nigerians are concerned about.

He urged various freight forwarding associations to kick against any government policy that would affect the economy, pointing out that policies on importation has been unfriendly in the last few years.

Similarly, a dealer in fairly used buses at the Freedom Park, Mile 2 in Lagos, Mr. Frank Obuso, lamented the exclusion of stakeholders’ input by government in policy formation with regards to customs import and export procedures.

When contacted, Public Relations Of-

Nigeria, others lose $2bn to maritime insecurity

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n estimated two billion dollars is being lost annually to insecurity in the maritime sector in Nigeria, Togo, Benin, Ghana and other countries along the coast of West Africa.

It was learnt that the situation had also led to loss of investment and created further economic, social and political challenges for governments and people in the sub region.

This was disclosed at an international four-day conference on coastal and maritime surveillance in Accra, Ghana.

The event, with the theme: “Delivering Total Surveillance of African Marine Domains,” was organised by the Ghana Navy, in collaboration with the

International Quality and Productivity Centre.

The challenges of maritime insecurity, according to stakeholders, call for national, trans-border and international collaborations.

It becomes more pointed in the wake of the discovery and exploitation of oil in commercial quantities in some countries in the Gulf of Guinea region.

Opening the conference, Ghana’s Vice President, Kwesi Bekoe Amissah-Arthur, noted that maritime insecurity posed significant constraints to investments in the sub-region.

He underscored the need to put institutions in place to seek fresh and effective solu-

tions to deal with the menace.

The Vice President noted that the West Coast was gradually attracting the attention of the world because of the discovery and exploitation of oil in commercial quantities, with its attendant concern of increasing security threats.

He said: “The UN has concluded that security threats in the maritime domain of the Gulf of Guinea are a threat to international peace and security.”

The Chief Executive of Paramount Naval Systems, Mr. James Fisher, explained: “Through regional and incountry integration and a strong African shipbuilding industry, West Africa

can address the safety of its shores and support economic growth in the territory.

Ghana is leading the way in this regard and by doing so, will continue to bolster its naval capabilities to benefit the continent as a whole.”

The Environmental Justice Foundation (EJF) also explained that piracy, including illegal fishing off the West African coastline had amplified, costing the shipping and offshore industry over $1 billion per year and has led to an immediate need for African navies to join forces and restructure their strategies to include modernisation and development of multi-purpose vessels for high risk zones.

ficer, Ogun Command of the Nigeria Customs Service (NCS), Chike Ngige, denied the allegation, saying there was no way 300 vehicles would be smuggled through Idiroko border axis and Customs officials will not intercept them.

He noted that smuggling was a global issue, saying that was the reason the Customs officers and men were posted to border to tackle the menace.

Ngige added that the command had seized many contraband goods this year including used vehicles.

He stressed: “The security at the border is very high. We have other security agencies at the border to consolidate our operations.

“Smuggling activities cannot be totally eradicated at Idiroko border or at any other ports or land borders, but can only be controlled.

“It is something that can never be wiped out anywhere in the world. Our job is to reduce it. Officers are not superhuman and there is no way you can use gun arbitrarily or overreact because these acts are carried out by the community. If we miss one, we can catch the rest but we cannot catch everything, otherwise, people may die. Just three weeks ago, we lost an officer to smugglers’ activities,” he said.

Meanwhile, annual demand of cars in Nigeria is 750,000 units while present local production capacity is 60,000 fully built units.

Only about 450,000 units are imported legitimately while the rest is smuggled into the country through the land borders to evade Customs duty.

In June last year, five terminals at Lagos seaports took delivery of 6,698 used vehicles. Some of the used vehicles are Toyota, Honda, Volkswagen, Mitsubishi, Nissan, Ford and Chevrolet brands.

Statistics by the Nigerian Ports Authority (NPA) reveal that out of about 7,000 vehicles imported between January and February, only 10 per cent were new vehicles.

Of the 6,278 vehicles imported through the Lagos seaports in May 2013, 3,300 units were discharged at the Port and Terminal Multiservices Limited (PTML). Other terminals are Greenview Development Nigeria Limited (GDNL) with 468 semi-trailers.

Also, it was learnt that no fewer than 2,420 new vehicles were discharged from vessels at the Five-Star Logistics of Tin Can port.

Customs duties paid for the categories of vehicle include: cars 30 per cent, bus 15 per cent, trucks 30 per cent and completely knocked down vehicles, 5 per cent. Other taxes are the Comprehensive Import Supervision Scheme (CISS), 1 per cent, National Automotive Council, 2 per cent, VAT 5 per cent and ECOWAS Trade Liberalisation Scheme.

It was revealed that it costs $2,460 to ship a Mitsubishi Pajero to the country.

Also, shipping cost of Toyota Mark X is $3,301, Probox Van is $2,962 and Nissan Caravan Van is $4,326.

BUSINESS | MARITIME

Sanctity of Truth

Wednesday, March 26, 2014

39

Customs revenue drops at Seme Border NABBED Three smugglers were arrested by Customs officials at Seme Border Stories by Bayo Akomolafe

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he Nigeria Customs Service (NCS), Seme Border Command, recorded low revenue in February.

It was revealed that the

N628.4 million revenue generated was N154.8 million lower than what was generated in January.

Spokesman for the command, Mr. Ernest Olottah, attributed the decline in revenue generation to low business activities last month.

He disclosed that the command made some seizures from smugglers during the period, while three persons were arrested.

The spokesman explained: “Trading activities was low in February but as the year goes on, activities will increase and we will be able to surpass our monthly target of N1.1 billion.”

Ollota stressed that the command generated N8.48 billion in 2013, adding that the figure was N4.5 billion lower than the N13 billion target set for the year.

The spokesman pledged that the command would re-

alise the N13 billion revenue target set for it this year by management.

Ollota said that the command made 103 seizures in February, with Duty Paid Value (DPV) of N78.078 million.

According to him, the items seized include cars, hard drugs, rice, vegetable oil, second hand clothes, frozen poultry products and general goods.

He said that the three per-

sons arrested allegedly for smuggling during the period would be prosecuted after investigation.

Ollota urged Nigerians to desist from smuggling due to its adverse effects on the economy.

“In the course of importing and exporting any product, protocols must be observed by paying levies and duties to the Nigeria Customs Service,” he added.

Cargo expected this week at the Lagos port Terminal

Ship

SFM SBM PWA APMT APMT APMT ENL/GDNL

Swan Ace Lucky Sailor Ocean Centurion Jula. S Rip Thelon Wehr Alster Eternity C

Tonnage Lagos port 500 units 31,900 tons 24,000tons 250 units 600 units 600 units 13,493 tons

cargo Used vehicles PMS PMS Containers Containers Containers Rice

Nigeria to enforce maritime labour code N L-R: Flag Officer Western Naval Command, Rear Admiral Samuel Alade and Managing Director, Nigerian Ports Authority (NPA), Ahaji Habib Abdullahi, during the handing over ceremony of three patrol boats to the Nigerian Navy in Lagos.

Oyo to constitute committee on dry port, border market COMMENDATION Shippers have commended Oyo government for providing an enabling environment

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he Oyo State Shippers Association (OYSSA) has said that the state government will soon reconstitute and inaugurate the implementation committee on the dry port as well as the TBM projects.

Its President, Dr. Ayo Omotoso, who disclosed this at the 13th Annual General Meeting (AGM) of the association in Ibadan, complained that the shippers were facing some problems.

He said: “The committee, which will include the organised private sector (OPS) as well as government officials, will fast-track the development of the dry port and the market.”

Omotoso noted that the main challenge was how to make the dry port at Erunmu, near

Ibadan and the Trans-National Border Market (TBM) at Saki operational.

The president said that the state government had provided the association an administrative office and a vehicle for the TBM project.

Omotoso said that the Chairman of the Board of Governors of the Nigerian Shippers’ Council (NSC), Retired Lt.-Gen. Salihu Ibrahim, said that construction had reached an advanced stage at the dry port during his visit last month.

He commended the Federal Government for providing an enabling environment for export of agricultural products and made-in-Nigeria goods.

Omotoso also lauded the Federal Government for providing loans to farmers and industrialists in the state, stressing that the loans had assisted farmers in acquiring farming equipment.

The Executive Secretary, Mr. Hassan Bello, who was repre-

sented by Mrs. Adebisi Adeagbo at the AGM noted that there were 27 shippers’ associations in the country including OYSSA, adding that some of them have not been living up to the council’s expectations.

Bello kicked against the admission of persons who were not genuine shippers into the associations, saying it was not healthy.

The executive secretary urged the shippers not to pursue a path that would not be in consonance with the objectives of the association and urged members to be above board.

Bello said: “Maritime industry remains a key gateway to the nation’s industrial growth and the pivot on which even the oil and gas industry stands.

“At the centre of operation in the industry, the key players are the shippers whose cargoes are the major attraction to both the shipping companies and the terminal operators.”

igeria is to enforce the Code of the Maritime Labour Convention 2006 from June 17, 2014, 12 months after its ratification.

The country was the 35th in the world to ratify the labour convention which was deposited with the International Labour Organisation (ILO) in June, 2013.

This was disclosed at a meeting attended by stakeholders in the maritime sector, including the social partners.

The meeting was preparatory to the Special Tripartite Committee meeting of the International Labour Organization (ILO) slated for April, 2014.

The Tripartite Technical Experts of the National Labour Advisory Council (NLAC) have considered the proposed amendments to the code of Maritime Labour Convention

aimed at bringing up to date the ever increasing needs in the maritime sector.

According to the Permanent Secretary, Federal Ministry of Labour and Productivity, Dr. Clement Illoh, the proposed amendment must be subjected to individual member country’s procedure for tripartite consultation mechanism.

He noted that relevant stakeholders in the country’s maritime sector had met and a special technical meeting of NLAC was convened to consider and approve the outcome of the stakeholders meeting before transmission to ILO in Geneva.

Illoh said: “Having considered the provisions of the proposed amendments, it would further strengthen the objective and goals of the Maritime Labour Convention (MLC) 2006.”

Piracy can cripple economy –NIMASA

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igerian Maritime Administration and Safety Agency (NIMASA), has said that no country’s economy can flourish alongside piracy.

Its Director General, Mr. Patrick Akpobolokemi, said that piracy could cripple the nation’s economy if not tackled. He explained that shipping contributes largely to the growth of any economy.

He made the remarks while receiving the Flag Officer Commanding (FOC) Western Naval Command, Rear Admi-

ral Samuel Ilesanmi Alade, on a courtesy visit to the agency’s headquarters in Lagos.

In a statement by the agency’s Deputy Director, Public Relations, Mr. Isichei Osamgbi, the director general said that the importance of the navy to the development of the nation’s maritime sector could not be overemphasised.

He commended the partnership with the Nigerian Navy, describing both institutions as partners in progress.

40 POLITICS

Sanctity of Truth

Wednesday, March 26, 2014

It is now fashionable to kill Nigerians residing abroad and go scot-free. This trend has caught up with young Nigerians studying abroad, forcing the House of Representatives to institute an investigation into the condemnable development.

PHILIP NYAM reviews the lawmakers’ debate on the issue.

T

here is a prestige that is often accorded Nigerians who study abroad. In fact, employers rate them higher than their locally trained counterparts. Perhaps this has been responsible for the craze in studying outside the shores of the country. Incessant strike actions by both academic and non-academic labour unions in higher institutions of learning in the country have not helped matters.

The situation has driven parents who have the financial wherewithal to take their wards and children abroad to escape the unpredictable school calendar in Nigeria. This has grown so bad that today, there are Nigerians seeking secondary and higher education in Niger, Ghana, Benin Republic, Ukraine, Malaysia, Cyprus.

Unfortunately, this comes with a price.

Instead of being given red carpet treatment, Nigerian students have suddenly become the target of attacks in some of these countries they run to for better education. It is unusual for any week to pass by without news of one Nigerian student being hacked down in a foreign land.

It was this worrisome trend that attracted the attention of the House of Representatives and its subsequent resolution to conduct a public hearing on the incessant killing and maltreatment of Nigerians abroad, particularly students. The lower chamber mandated its joint committee on justice, human rights, foreign affairs and diaspora affairs to carry out the investigation and report back within two months.

The motion Hon. Abike Dabiri-Erewa (APC, Lagos) had in a motion of urgent national importance expressed worry about the alarming increase in the number of Nigerians, who are seeking education abroad, but end up being murdered in mysterious circumstances.

Reeling out the statistics of the misfortune of Nigerian students abroad, Dabiri-Erewa, who is the chairman, House Committee on Diaspora said: “In Ghana, four Nigerians have been killed in the last few months. In October, 2013, 15-year-old Austine Ogukwe, an SSS 3 student of Ideal College, Ghana died mysteriously. Barely 26 days later, two other Nigerians, Eddy and Charles of the Federal University, Accra, lost their lives during an excursion as the school merely claimed they were drowned.

“Just two weeks ago, February 20, Godwin Ayogu, a 300-Level Social Science student of University of Cape Coast, Ghana was brutally killed, and his body found on campus. In Malaysia, the police killed

Dabiri

Ayogu

Samson

Foreign education: Reps probe killings of Nigerian students Tunde Adelabu, an indigene of Ekiti State and student of Lagenda University Nilai. Another 80 Nigerian students are currently on danger list with no intervention from our embassy in Malaysia.

“In Russia, Forester Samson, a 17-yearold Nigerian girl was stabbed multiple times and burnt to death by yet to be identified group. In Dubai, Toba Falode, the son of popular female sports broadcaster, Aisha Falode, was thrown out of a high rise building, while studying in SAE Institute. In South Africa, the humiliating video of a Nigerian man stripped naked and beaten publicly by the police is still making news worldwide,” she narrated.

Lawmakers disagree In his contribution, Hon. Uzoma Abonta (PDP, Abia) instead blamed Nigerians for their troubles.

He submitted that some of the students often fall prey to the laws of their host countries by not conducting themselves properly. He believed that if Nigerians attuned their lives to the laws of such countries, they would be saved the danger of receiving unwholesome treatment. According to him, “if you are in a country, play according to their rules and respect the laws of their land.”

But Hon. Tobi Okechukwu (PDP, Enugu) disagreed with Abonta’s position, arguing that even if Nigerians run foul of such laws, the judicial process should be followed, adding that no Nigerian should be killed no matter his or her crime until the proper judicial order has been procured.

In her contribution, chairman of the House Committee on Foreign Affairs, Hon. Nnena Elendu-Ukeje (PDP, Abia) blamed the situation on the inability of Nigerian embassies to properly engage their host countries diplomatically be-

cause they are grossly underfunded.

She called for their improved funding for them to properly protect the interest of Nigeria and Nigerians abroad.

The reality It is unfortunate that some of the schools Nigerians run to in foreign lands are not better than the ones in the country. Worse still, these ‘substandard’ foreign schools charge very exorbitant fees yet they fail to provide Nigerian students with the required security and enabling environment to study thereby exposing them to danger of attack and molestation. But since anything foreign is adored and worshipped in Nigeria, people keep patronising these schools.

Recently, a group of Nigerian journalists who undertook a tour of Accra-Ghana, painted an unpleasant story of Nigerians attending sub-standard universities in Ghana and how these schools exploit them. The biggest discovery from their experience was that Nigerian students dominate all the private universities in Ghana. At least about 150,000 Nigerians are believed to be studying in Ghana alone. This is an approximate figure because even the Nigerian High Commission in Ghana does not have the exact number of Nigerian students in that country. Paradoxically, the elites in Ghana established private universities

In Ghana, four Nigerians have been killed in the last few months... Another 80 Nigerian students are currently on danger list with no intervention from our embassy in Malaysia

but prefer to send their children to public schools. The private universities where Nigerian students spend fortunes to study lack the necessary equipment expected of a modern university.

Just like in Ghana, Nigerian embassies in some other countries does not have the required information about these students hence these young boys and girls are left on their own. Some of them due to their youthful exuberance, naivety and the fact that most of them have enough cash at their disposal, are lured into areas and ventures that endanger their lives. They lack close parental advice and monitoring; they are ignorant about the psychology and laws of their host countries; they do not know when danger is lurking and are therefore susceptible to being mowed down by their aggressors at any time.

The investigation The joint committee is to unravel incidences of attacks against Nigerian student’s world over and proffer solutions.

This is an onerous task because of the failure of government to provide for Nigerians, its people are found in some of the ridiculous nations of the world and so are its young students. One does not doubt the ability of the joint committee to do the job it has been given but it would not be easy to obtain the required information. And whatever recommendations it will come up with, if the educational system at home does not improve, it will just be an effort in futility.

Surprisingly, as more Nigerians are being attacked and killed in the most gruesome manner abroad, many are still willing to cross over. The bottom line is that the rot at home will continue to fuel this migration and since most of the students that go abroad are well to do, they will always be the envy of the natives and the killings will continue. However, this committee should work closely with the Nigerian missions and embassies to arrive at a feasible solution to this malady.

INTERVIEW 41

Sanctity of Truth

Wednesday, March 26, 2014

CHUKWU DAVID examines the recent call by some Senators for the establishment of state police in Nigeria and its implication for the democratic process

Senate in U-turn over state police

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here is no doubt that the level of insecurity in the country has reached an alarming state. In recent times, there is hardly any day that passes without Nigerians being inundated by the media with horrific reports of brutal attacks on and killings of helpless innocent Nigerians in some parts of the country by unidentified armed persons.

With the upsurge of the Boko Haram insurgency in the North-East, the security situation in Nigeria has since become precarious and worrisome. But the recent development, in which other attackers, suspected to be mercenaries from neighbouring countries invade communities and villages in some North Central states under the guise of Fulani herdsmen, has further compounded the problem and calls for additional security measures by the Federal Government to tackle the menace.

In the past few weeks, there have been sustained attacks and killings of several Nigerians in many villages in Benue, Plateau, Nasarawa and Kaduna states. The ugly development has not only made Nigerian citizens in the affected areas to live in apprehension over what might become of them and their loved ones the next moment.

Initially, it was the state governors who were in the vanguard of the agitation for establishment of state and perhaps local government police. But there has been palpable fear at other quarters that the state chief executive officers might abuse the opportunity of having a police force under their command to hunt their perceived political enemies during elections and in handling of other critical political matters in their states.

Again, the Federal Government appears not to be comfortable with state police because of the possible rivalry or clashes of interest that might ensue between the force of the two tiers of government. To avoid such conflict, which may elicit violence in the polity, the Federal Government is obviously not pushing for a potential rival police.

However, with the current centralised police structure in Nigeria, the state governors are at the mercy of the President, through the Inspector-General of Police, who must issue orders to the state commissioner of police before he could avail the governor the services of police personnel even in crisis situation that requires urgent security attention.

Some opponents of state police initiative even argue that, if established would be a veritable instrument that will destroy the nation’s democracy.

Gemade

Usman

Akume

This is essentially because, in Nigeria of today, politicians are desperate to get power at all cost. Consequently, they see election as a do-or-die affair.

At the National Assembly, the lawmakers are divided on the issue of state police. While some are in support of its creation, others vehemently oppose it.

Those who oppose the idea are of the opinion that the governors will certainly use it to pursue parochial interests rather than public interest.

The House of Representatives in October 2012 held people’s public sessions across the 36 states of the federation and Abuja on the review of the 1999 Constitution. The report of the sessions indicated that Nigerian people voted against creation of state police. The politicians from the North, particularly, the 19 state governors from the region initially opposed the idea.

But worried by the worsening security challenge in the country, especially with the high incidences of violent attacks on communities in the North Central, some concerned senators, led

by Senator Barnabas Gemade from Benue State last Thursday, brought to the floor of the Senate a motion, which was considered the longest motion ever sponsored in the Red Chamber since the 7th Assembly on how to tackle the situation.

The motion, which was entitled, “Recent attacks and killings in Plateau, Benue, Kaduna, and other parts of the Central Nigerian Area,” had Senators George Akume (Benue North West), Gyang N. S. Pwajok (Plateau North), Joshua C. Dariye (Plateau Central), Victor Lar (Plateau South) and Nenadi E. Usman (Kaduna South) as co-sponsors.

Leading the debate on the motion, Gemade lamented that the incessant invasion of communities and villages, and the killing of innocent citizens by suspected mercenaries have made human life cheap to be wasted as measures seemed not to be forthcoming in tackling the problem.

Consequently, he tactically demanded for the establishment of state police, as a means of effectively addressing the situation, saying, “the Senate observes that anxiety fed by what are now incidences of serial night killings and daylight mass attacks bordering on war crimes is approaching a panic loss of confidence in the federal security regime and that the pattern of federalised policing under a unitary command, may have made sense under military regimes in the past, but it is hardly the best in the prevailing situation of insecurity with the increasing volume of grassroots crimes and attacks on the nation’s defenseless rural communities.”

Gemade, who was visibly worried over the situation, further said: “The Senate believes that the increasing sense of disconnection with local communities needs to be overcome and reduced by a reconsideration of the current military strategy because identity politics of the civilian domain is growing more divisive as the military is constantly relied upon to use deadly force to deal with local crimes or uprisings and trans border attacks in most parts of Nigeria.

“The Senate realising that apart from providing necessary democratic essentials, meeting the security needs of the people remains the primary purpose of government as a result, if a state, local government, ward or village area under a federal system cannot be effectively protected by the federal police, federal

army and other forces, the nation cannot afford to remain scared of trying tested solutions adopted by other federal systems of the world.”

He expressed concern that the constant invasion by unidentified armed men in the North Central, which have cost enormous loss of lives and destruction of property had degenerated to a state of civil war, saying that if nothing was done to address the matter, the entire nation might be engulfed by the crisis in the near future.

Some other senators who were aggrieved by the senseless killings also stressed the fact that the current centralisation of the police would make it difficult for the force to effectively tackle the pathetic security challenge in the country and opined that the situation had necessitated the urgent need for the Federal Government to allow for the introduction of state police and local government police to help contain the worsening security situations at the state and grassroots levels.

The present federal police lacked the capacity to police the entire federation effectively...

We admit there are inherent dangers just like we have in other spheres, but we should have state police subject to the supervision of the Federal Government

Ekweremadu’s approach In his contribution to the motion and support for state police, the Deputy President of the Senate, Ike Ekweremadu who presided over that session said: “The principal purpose of government both as established by the Constitution and in political science is for the protection of lives and property of citizens, and that is part of the social contract.

If we have devoted the whole day as we have done now to dealing with the issue of insecurity in Nigeria, we are living up to the expectation of the ordinary people of Nigeria, for us to show concern for the general insecurity in the country.

“It is well known that our country and our people are generally innocent and we abhor crime. Many years ago, as traditional people, we had our own internal mechanism of dealing with some of these situations. But with civilization and interaction with other people and the general criminality pervading the whole world, we are now infested with this virus of criminality in our country.

C O N T I N U E D O N PA G E 4 4

42 POLITICS

Sanctity of Truth

Wednesday, March 26, 2014

Reparation: Ndigbo re-open old wounds C O N T I N U E D F R O M PA G E 1 3

which they should be asking the court to make regarding the civil war which gave rise to the losses. You cannot just ask for reparation or restitution without far-reaching pronouncements by the court on the issues that gave rise or produced the losses you suffered.

That is all I know about the matter.”

On the question of timing, Okonkwo, who is also the initiator of Movement of Voice of Democracy (Movers) said: “If they (those championing for the reparation) are suing for the criminality of the prosecution of the war and what we suffered, it would not be status barred. The critical thing is that there are very few people thinking in Nigeria. It is not a civil action per se; it is a class action that has something to do with the criminal conspiracy to deny a people those rights that are guaranteed even in the suspended 1963 Nigerian constitution.

So, that constitution must be in issue as such it is not only bringing an action under the 1979 Constitution.”

He said it was hard to say whether the sum of N2.43 trillion compensation is enough to address the rights breached.

“What I am saying is anybody that wants to bring that action must know that the decree that suspended the operations of certain sections of the 1963 Constitution and the coming into effect of the 1979 Constitution are issues that must be placed before the court. And it must not be a court of limited jurisdiction. If they are filing that action at the Federal High Court, I have my doubts,” he surmised.

National Publicity Secretary of Conference of Nigerian Political Parties (CNPP), Mr. Osita Okechukwu, said it was not easy understanding the method or argument with which the ethnic group pursues its agenda, pointing out that any attempt to instigate intellectual interrogation of plans and programmes are often met with bandwagon opposition.

President of World Ndigbo Youth Movement, Comrade Ndubuisi Igwekana, said the governors of SouthEast failed to address the problems associated with the election of authentic leadership of Ohanaeze wondering whose interests the leaders are representing.

Igwekana said the committee set up by the five South-East governors failed to turn in its report pointing out that it is hard for the reparation to succeed in its endeavour since, according to him, the issue does not receive the collective endorsement of all Igbos. He regretted that most so-called Igbo leaders seem to be self-serving or engaged in projects that fail to address the immediate interest of the generality of Ndigbo But Ndigbo said the amount of money was a pittance compared to “the incalculable price on the death of millions of our people killed in the civil war and on other occasions,”

Igariwey

It is incalculable to put a price on the death of millions of Ndigbo who were killed in the civil war, and are still being killed by Boko Haram in the North East stressing that the money was meant to cushion the sufferings of the people of the South-East in the country.

In drawing up the budget and expenditure profile, each of the five states of the South-East would receive N400 billion from the money as compensation and Delta State for the benefit of Anioma area of the state.

Former Minister of Aviation in the First Republic and Chairman, Ohanaeze Ndigbo Reparation Committee, Chief Mbazulike Amechi, who addressed a press conference in Enugu, regretted that close to 15 years after Ohanaeze Ndigbo sent a petition to the Oputa Panel for the reparation and appropriate restitution for the crimes committed against the Igbo, the Federal Government had refused to address the issues.

Amechi explained that “having waited for 15 years, Ohanaeze Ndigbo on May 25, 2013 set up a reparation and restitution committee to dust up the petition and revisit the issue.” He added that Ohanaeze Nd’Igbo has had cause to reflect on the long and interminable “chain of injustices, atrocities and deprivation which have been inflicted on Igbos over the years.”

He remarked that Igbo leaders are compelled to seek reparation for the mistreatment of Igbo in a country which great Igbo sons and daughters spearheaded its founding. He added that “the spirits of millions of Igbo men, women and children who have been unjustly murdered over the years are crying for justice.”

In what appeared an inventory of the serial assaults of the rights and

Amechi

dignity of Ndigbo, Amechi declared: “It is incalculable to put a price on the death of millions of Ndigbo who were killed in the civil war, and are still being killed by Boko Haram in the North East. In January 1966, some officers in the Nigerians army organised a coup d’état and overthrew the government of nationalists and founding fathers of the federation. A carefully planned pogrom and genocide was unleashed on the Igbo mainly in the North. On May 29, 1966, they commenced what they called ‘ARABA’ test riots and this lasted for seven agonising days where hundreds of Igbo were killed.

“On July 29, 1966, in what was termed ‘counter revolution and ethnic cleansing’, which began with the heartless killing of Major General Aguiyi Ironsi and over 300 military officers and men of Igbo origin escalated into the massacre of unsuspecting Igbo civilians, men, women and children in many northern towns on a scale unprecedented in any part of the world even more gruesome than the killings of Jews. This forced hundreds of thousands of Igbos to flee back to the East abandoning all their properties in the North. As many of them were received at Enugu airport and railway station, most arrived with broken limbs, some with eyes plucked, some with cut off arms and one body without a head.”

It is not easy to establish a nexus between the threats by some northern elders to drag former Chief of Army Staff, Lt. General Azubuike Ihejirika to the International Criminal Court for the alleged military onslaught against the Boko Haram insurgents in the North Eastern states of Borno.

But judging from the nature of atrocities chronicled by Amechi, it is possible that the threat by the northern elders must have nudged the Igbo leaders to remembrance. Whether the recollection is meant to remind Nigerians of the sacrifices of Ndigbo for the peace and progress of the country or prick the conscience of those criminalising Ihejirika for what was

clearly a military action is left to be seen.

For instance, the First Republic Aviation Minister (Amaechi), in his narration indicated: “At Benue River at Makurdi, soldiers stopped trains evacuating Igbo to the East and picked out Igbo men, women and children, shot them and threw their bodies into the river. Some of the children were thrown alive into the river. Official figures estimated that 50,000 Igbo were killed in this operation which lasted for many days”. He added that on September 30, 1968, the Nigerian soldiers murdered two delegates of the International Red Cross, two missionary workers and several other relief workers and more than 200 civilians at Okigwe.

“On the same day, some Biafran leaders of thought were invited for a meeting at Textile Mill, Aba where a bomb was dropped shortly before the commencement of the meeting killing several civilians.”

Amechi recalled that when the war ended in 1970 and despite the declaration of ‘no victor, no vanquished’, the atrocities on Ndigbo continued, adding that all their property in Rivers State including houses, shops, factories were seized in the name of “abandoned properties’. He stated that no compensations were paid to the landlords or those who lost other property, pointing out that the Federal Government even “made a law and adopted a banking policy that all monies owned by Igbos in the banks should be reduced to nil balance. And that Igbo adult who presented him/herself should be given the ridiculous amount of 20 pounds (equivalent of N40)”.

The Reparation Committee chairman lamented the brutal murder on December 26, 1994 of Gideon Akaluka in the presence of government officials in Bompai Prison of Kano by some Islamic fundamentalists, stressing that it was more devastating that his head was cut off, hoisted on a spike and paraded on the streets with law enforcement agents looking the other way.

Justifying the search for reparation, Amechi stated further: “On June 8, 2005, six young Igbo traders were gunned down at Apo Quarters in Abuja,” insisting that till date, government has refused to bring to trial, police officers who committed the act. In the present killings in the North by the Boko Haram, several Igbos have been killed in churches, markets, motor parks and their homes among others.”

Whether the search for reparation is another way of ventilating frustrations in the Nigeria project or a form of agenda setting to modulate the progress of the national conference or even how realistic the demand is, could be seen in the days ahead. But all said, Ndigbo should adopt a more cohesive way of marshalling their agenda.

POLITICS 43

Sanctity of Truth

Wednesday, March 26, 2014

“I

have never seen anything like this in my life; and in my wildest imagination I did not expect that a day like this will come.”

Bolaji Abdullahi, the Minister of Sports recently sacked by President Goodluck Jonathan, said as he was overwhelmed with emotion when he spoke last Saturday.

Not even when he returned with the golden trophy from the U-17 World Cup did he witness such a crowd to welcome him home at the airport, Emir of Ilorin’s palace and the Governor’s Lodge.

The reception was an indirect opportunity for the APC to register its dominance in the state. Just a week earlier, the former governor of the state, Senator Bukola Saraki had held the entire Ilorin–Ogbomoso road, from the Eyenkorin section to Geri Alimi Roundabout to a virtual standstill when members of the party came to welcome him in response to the grand rally by the Peoples Democratic Party (PDP). Apart from the main road, the APC train also ensured there was no movement of traffic as Saraki trekked the five-kilometre distance from Geri Alimi Roundabout to the Emir’s palace.

Thus having another event to demonstrate its popularity was considered by many members of the APC as a great opportunity to show that their party is the one on ground. The APC members were excited that they had been able to organise two public outings within two weeks. The PDP has held three rallies in the state capital, Ilorin, in the last two months, to show its strength. The APC would however argue that it is yet to organise a rally as the two back-to-back events were mere receptions and mostly spontaneous.

Why the APC governors didn’t come No sooner after his sack than talks began about the state government organising a reception for him, there were rumours that some 10 governors had accepted to grace the event. Several media sources claimed to have spoken to organisers who confirmed that the 10 governors, from states under APC control, were determined to make the event.

The development heightened tension and forced security operatives to work extra mile. For instance, there was a directive to all senior officers of the state police command to be out on the streets by 5a.m. on the day of the event. They were asked to personally take over the units where they were assigned. The rumour also made the former minister much more popular among the locals who suddenly began to see him in another light; a man whose misfortune could become a fortune with the coming of 10 governors.

Many people who are familiar with the nature of official traffic on the Airport road avoided the route that morning for fear of being caught in the gridlock.

But no governor came, even though the airport route was still blocked with the crowd of APC supporters.

Sources close to the organisers explained that the governors decided to stay away to avoid turning the reception to a political rally since the APC is still planning its own version of the PDP rally in the state. “It was agreed that they

Abdullahi: Politicising a minister’s homecoming

Former Minister of Sports, Bolaji Abdullahi, returned to his state, Kwara, amid jubilation.

The homecoming event was turned into celebration by the All Progressives Congress (APC), writes BIODUN OYELEYE

Governor Ahmed (2nd left) presenting a souvenir to Abdullahi while Kwara State APC Interim Chairman, Alhaji Ishola Balogun-Fulani and Atunwa watched.

should not come now, let’s fix a date for our own rally first and then you will see what happens,” one of the organisers told New Telegraph. The APC, it was explained, is yet to be formally launched in the state and the party didn’t want Abdullahi’s reception to become a distraction.

Besides, the party did not want to be formally linked with Abdullahi since one of the speculated reasons for his removal is his close affiliation to Saraki. If the APC governors had attended the reception, even though they could have been invited by their colleague, Abdulfatta Ahmed, whose government put the event together, their presence would have given credence to the argument against Abdullahi as APC’s representative in a PDP cabinet.

all the problems that existed and stopped Nigeria from making progress and winning laurels, you solved them all and we now have a fantastic Ministry of Sports.

The results are history. No doubt, this is a reflection of your person and for us it is part of the qualities which have been imbued in us under the leadership of Senator Bukola Saraki.”

Turning-point in Nigeria’s history The major speech for Abdullahi was captured at the Governor’s Lodge where Governor Ahmed reiterated the need for a political change in Nigeria. He celebrated the former minister as a special breed. On hand to welcome him were the Speaker of the State’s House of Assembly, Alhaji Razaq Atunwa and other senior government officials.

Incidentally, when Saraki was governor, Ahmed, Atunwa and Abdullahi were in his kitchen cabinet.

Ahmed described Abdullahi as the best in any given assignment, and traced the inclusion of youths in the SURE-P programme to the revolutionary changes he initiated in the Youth Ministry.

His words: “I want to assure you that Kwara is still your home. It will not be different from the one you left behind. I beg you to continue to do the good works you have been doing since your incursion into politics in 2003.

“When you got to the Sports Ministry,

‘Saraki is our leader’ Abdullahi not only appreciated the grand reception but also dedicated his achievements to the youths. He also reinforced his faith in the Saraki leadership which he noted has been able to nurture a lot of promising young people.

His words: “What else can I say, apart to say that the almighty Allah will reward you for the love you have shown to me today? I have never seen anything like this in my life. And in my wildest imagination I did not expect that a day like this will come. As I stood in the vehicle waving to the tumultuous crowd all the way from the airport to the Emir’s palace, I kept asking myself what is it that I have done to deserve this. That is why I want to thank Governor Ahmed very sincerely.

You are my brother and my friend, but I’m not thanking you only for this day.

“Several times I came close to walking away but you always encouraged me to hang on there. I thank you very much and I pray that almighty Allah will continue

Several times, I came close to walking away, but you always encouraged me to hang on there

to guide you, abide by you and he never bring you down. I want to thank all the people of Kwara State for the show of love. I don’t think I know one per cent of people that came out to welcome me today. I don’t think I have in any way done anything for one per cent of them.

“What I can say is that what we are celebrating today, that is what God has made possible for me to do in the last three years that you have sent me to Abuja as a minister. I dedicate all to the youths of Kwara State. We, who were born towards the end and after the end of the Nigerian civil war, are the generation that are mostly here today. That is the generation that I belong and what we have done in the last three years has shown that our generation given the opportunity is capable of achieving great things.

“The governor, state House of Assembly Speaker, Razak Atunwa and myself have come a long way. I thank the Speaker for standing by our governor. Kwara is one of the few states where you don’t have crisis between the House of Assembly and executive. I believe this is due to the way our leader, Senator Bukola Saraki has structured everything and the kind of leadership he has provided.”

Saraki himself had, in the wake of the sack, issued a strong condemnation for the development, like several other Nigerians who considered it a move to satisfy the demand of PDP leaders in the state.

Saraki said: “It is shameful that Bolaji Abdullahi was relieved of his duty as minister mainly because of politics and certainly not for non-performance.

It is disappointing that in the interest of politics we have compromised competence, and invariably denied our nation the progress it deserves.”

44 POLITICS

Sanctity of Truth

Wednesday, March 26, 2014

For the sake of grazing route, reserve

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his week’s bill is “an Act to establish a National Grazing Route and Reserve Commission and manage National Grazing Routes and Reserve in all parts of the nation and for other incidental matters.”

The bill is sponsored by Hon. Karimi Sunday Steve, representing Yagba East/ Yagba West/ Mopamuro federal constituency of Kogi State.

The intendment This bill is borne out of the need to stem the rising clashes between herdsmen and farmers in different places across the country. The herdsmen have unleashed mayhem on villages in Benue killing and maiming people and destroying properties worth millions of naira.

Karimi, who hails from Kogi State, is aware of this development because farmers in his state have had their own share of the attacks by these herdsmen. Hence, he decided to sponsor a private member bill for the establishment of National Grazing Route and Reserve Commission.

According to section 6 of the proposed law, “the commission shall establish a fund which shall consist of such sum as may be allocated to it by the Federal Government of Nigeria and such other funds

WEEK

THE

The content The bill comprises four parts. Part I deals with the establishment of the National Grazing Reserve and Route Commission; part two is concerned with the functions of the commission; part three handles only Grazing Routes and Reserves while part four stipulates the procedure for acquiring the Grazing Routes and Reserves.

BILL OF

Steve

as may accrue to it in the discharge of its functions.” And section 7 states that “the commission may, from time to time apply the proceeds of the fund established in pursuance of section 12 of the Act. The commission is to make regulations for establishing grazing routes and reserves in approved areas and in consonant with the Act; managing the grazing routes and reserves; prescribe persons who may use the grazing reserves and the number and type of stocks that may be permitted therein and prescribe the parts of the grazing reserves and routes, which may be used and the times they may be used.

Other functions of the commission include providing for the issue of grazing permits to persons using the grazing routes and reserves and prescribing fees payable for the usage of such

grazing routes and reserves; regulating the conditions of entry into the grazing routes and reserves; imposing penalties for breach of any of its regulations and prosecution of anybody or group of persons that breaches any provisions of this Act and lastly to demarcate or make known any matter it think best, the boundaries of the grazing route and reserves.

The procedure for acquiring of the grazing routes and reserves entails that the commission shall approach the governors of the 36 states and the minister of Federal Capital Territory (FCT) and undertake a geographical analysis of the land use in order to ascertain the best and most appropriate place to locate the Federal Government Reserves and Route within the said states.

So, after undertaken the analysis of the grazing reserves and routes, the commission would then approach each state governor with the cooperation of the member of the commission from that state to negotiate with the governor to transfer the land to the commission for the purposes of grazing routes and reserve.

The structure The headquarters of the commission is to be situated in the Federal Capital Territory, Abuja with offices in each state. By the provision of the bill, governors of each state are to make provision for the office of the commission in the ministry of agriculture or ministry

of lands of each state. The commission upon establishment shall consist of a chairman, who shall be appointed by the president on the recommendation of the minister ‘being a person who by reason of his ability and experience or specialised knowledge on land, agricultural matters and whose professional attainment is in the opinion of the president capable of making outstanding contributions to the commission.”

The commission is to be consisted of one representative each from all the 36 states of the Federation and one from the FCT. Each of the representatives shall be a legal practitioner, land surveyor or other persons knowledgeable in land matters with one representative from the National Boundary Commission and the Border Committee Development Agency.

The administration of the commission is to be led by the director general, who shall be a legal practitioner of at least 10 years post qualification experience or a land surveyor who has been licensed to practice as a land surveyor for at least 10 years or other persons who by their qualification and experience are experience in land and agricultural matters.

The sponsor Hon. Karimi Sunday Steve represents Yagba East/Yagba West/Mopamuro federal constituency of Kogi State on the platform of the Peoples Democratic Party (PDP). He was elected into the lower House in 2011. He is a member of the committee on special duties, media and public affairs, public accounts and civil society and donor agencies, emergency and disaster preparedness as well as water resources.

Senate in U-turn over state police C O N T I N U E D F R O M PA G E 4 1

And that calls for prompt action for us to do what other countries are doing in order to combat this menace.

“So, I do believe that a country as big as Nigeria needs to effect its security. And just as have been mentioned, it would be difficult for us to afford effective security if we continue to use the type of policing we are having in Nigeria presently. We run a federal system of government and it is completely unacceptable for us to have a federal system and to also have a centralised police.

“Policemen are not magicians. There is no way a policeman can stay in one kilometre and know when a crime is being committed in another kilometre. We must be able to provide sufficient police personnel that should be at least one policeman per 100 metres away. And this can only be achieved if we decentralise our police, ensuring that we have state police and possibly local police that is well-coordinated and regulated. We had problem in the past in this area because they were not well regulated and they were not coordinated.

“I think time has come for us to re-

flect on this and see how we can provide efficient security for our people. And our police, as it is now, need to be more trained and then they will be able to ensure that the laws are enforced no matter who is involved. So, if we do some of these and all that we have said here, I am sure that we would be able to recover our country from the doomsday that is being predicted. But I believe as said by Sekibo that we can overcome this challenge and be stronger again as a country.”

Senator George Sekibo from Rivers State observed that the governors were spending so much on the federal police, and argued that such money spent on the federal police would be enough to run a state police.

He noted: “I support state police and derivation formula since our democracy is modelled after that of America. People in the community know more about criminals than outsiders and they can do better in crime prevention. The present arrangement is such that policemen are like strangers, who don’t know much about the communities they serve. State police is part of true federalism. If the northern leaders don’t want it now, one

day it will come to pass.”

Similarly, the Chairman, Senate Committee on Rules and Business, Ita Enang from Akwa-Ibom pointed out that it was imperative to establish state police. According to him, the federal police are not capable of policing everywhere.

He said: “The present federal police lacked the capacity to police the entire federation effectively. I believe it is necessary that we have state police since it has become clear that the federal police will not be able to police everywhere. We admit there are inherent dangers just like we have in other spheres, but we should have state police subject to the supervision of the Federal Government.”

Sincerely speaking, the imperativeness of state police in Nigeria cannot be over emphasised, in view of the overwhelming security challenges currently bedevilling the country. But looking at the inherent socio-political vices that might result from its establishment, those who argue that Nigeria is not mature for it are likely enjoying the sympathy of more Nigerians than those asking for it.

Mark

In spite of the calls and reasons adduced for the establishment of state police in Nigeria, many Nigerians are still very sceptical about its usefulness because of the suspicion that state governors might use it as instrument of oppression, suppression, intimidation and as a killer squad against those who oppose them in office. This is perhaps why the item did not receive the people’s approval during the last nationwide public sessions on the review of the 1999 Constitution.

METRO 45

March 26, 2014

dan horror: Relation identifies victim in hospital

dentified ictims of the al killing as

• Bodies get mass burial

mo

ent of joy yesterday f the eight victims p den now being rethe Adeoyo Materg Hospital, Yemetu, dentified by a rela-

When I saw his name in the newspapers, I called Ada to know if he had come home but I got a negative response. That brought me to the hospital and immediately I saw him, I knew he is our son,” the man said.

The man, who came to the hospital with his wife, said although he was happy to see Wale, his state of health was a cause for worry.

“He is not the Wale we knew.

He was a boy when he left home full of life but we are sad that he cannot relate with us normally.

He is not responding to greetings and gestures. Wale is not mad; he was born normal with deformed fingers which I used to ascertain his identity,” he added.

This was as environmental officers from the Oyo State Ministry of Health, evacuated the remains of dead victims and various body parts into a mass grave in Soka

ebi, who could hardate with people, was an uncle, who said ft home many years any hint about his

ving with his paterther in Ada, Osun s father, who died go, lived in Ibadan. was no longer with en he got missing. I adan and sell planks xide area of Ibadan. Atoyebi on his hospital bed...yesterday

disburses N470m to communities for projects

mes

River State Governugh the Community Development Agen) has disbursed over o for the execution of unity-based projects. es of the fund are 55 n 12 local government ate.

Speaking during presentation of cheques to the communities in Calabar, Governor Liyel Imoke described the model of using communities for the execution of projects as cost effective and result-oriented.

According to him, such projects create tremendous value to the communities because the people, who are the beneficiaries, are involved.

Thegovernoradvisedcouncilchairmen to identify communities and ap-

urt premises

oke out. ttu F. Oladeyondent that he couple on

was a misuncouple which wife with belt. according to her’s home. that efforts o resolve the xplained the man. ce, with suit s filed on Sep-

ge sheet, Og-

biyele told the court that the wife had been sleeping around with known and unknown persons.

He said that in March 2012, his wife travelled to the United Kingdom without his per mission but with her mother’s consent.

The husband added that on February 12, 2013, his wife slapped him when he accused her of stealing his properties.

But responding to the charges, Akin Aroyewo from Dehinde Shittu and Co., said Bola did not abscond from her matrimonial home, but ran for her life when the husband wanted to kill her with an iron belt.

propriately site projects.

Hesaid:“Thereisnodoubt that the idea of using the local people to execute projects is the best option as it not only reduces cost, the people take ownership of such projects.”

Imoke appealed to the benefitting communities to take ownership of the World Bank-assisted projects and charged council chairmen to send Community Development Officers round to build the capacity of the people.

The governor called on the beneficiaries to use the money wisely, reminding them the fund was meant for the execution of projects that would enhance their economic status.

Imoke also appealed to political officer holders in the state to sensitise their subjects to this approach (the use of local people) with view to attracting rapid development to their respective domains.

He said: “I will make sure those who hold political offices but have not contributed to communitybased projects in their areas are booed by the people they represent.”

forest yesterday.

Meanwhile, a former Secretary to the State Government, Chief Ayodele Adigun, has said that the forest was a creation of Governor Abiola Ajimobi.

Adigun, now an Accord Party chieftain, said yesterday that Ajimobi’s visit to the site on Monday was hypocritical.

He said the decomposing bodies found at the site could be those of the destitute and lunatics picked off the streets as the land, according to him, was used by the government to resettle the destitute and lunatics.

He said: “Apparently ritual killers might have capitalised on this official lapses to turn it into a den.” But in a swift reaction, the All Progressives Congress (APC) described the allegation as an attempt by the Accord Party to gain cheap political popularity by riding on the people’s grief and blood.

“The people of Oyo State are in a state of grief and shock at the horrendous discovery of

ritual killers’ den in the state. The situation calls for sober reflection from all and sundry,” the APC Interim State Publicity Secretary, Mr. Dauda Kolawole, said in a statement.

But back in the hospital, some staff, who spoke on condition of anonymity, said some of the victims would eventually regain full recovery, but others needed psychiatric examination.

“Those who gave their names and spoke about themselves are yet to remember many things but their cases are better than others who are still in a state of shock.

“It is too early to ascertain the degree of their imbalance but they need to be taken to a facility where they can be evaluated. The hospital management must decide on this fast so that we don’t just hold them here without the right treatment. Physi-

cally, they will be okay but we have to carry out various tests to know their mental state,” they said.

Many families also besieged the hospital in search of their loved ones. One of them was a sobbing mother, who said her daughter, Nnenka Peters, had been missing since 1998.

She said: “Her father died in 1997, leaving me to take care of the children. She was nine years when we did not see her again. She had gone out to fetch water opposite our house but she did not return. If I see my child, I will know her.”

Meanwhile, representatives of Governor Abiola Ajimobi visited a Splash FM presenter, Bayo Faleke, who was attacked by irate mob on Sunday morning at the site.

The delegation was led to the hospital by Special Adviser to the governor on Media, Festus Adedayo.

Lagos’ll stop construction of illegal filling stations – Commissioner Muritala Ayinla

L

agos State Government said it would soon begin a clampdown on unauthorised construction of filling stations across the state.

The Commissioner for Physical Planning and Urban Development, Olutoyin Ayinde, disclosed this in an interview with NT Metro.

Ayinde said the state was facing flagrant illegal construction of filling stations, adding that the government was making efforts to check it.

Illegal construction of filling stations, according to him, is responsible for frequent fire outbreaks in filling stations as they are usually built in choked

File picture of the burnt filling station

up places which makes it difficult for fuel trucks to negotiate within the station’s premises.

He said: “We have had a running battle with people we stopped from building filling stations but the only thing some of them will do is to call the governor or the commissioners to appeal on their behalf. If we did not have a governor, who respected the law, it would have been worse.

“But because we have a governor who respects the law and professionalism, we have been able to curb many of them from siting the stations at unsuitable places. “When we say somebody cannot build a station at a particular place, we see more than the potential developer or pet-

rol station owner. He (developer or owner) sees the potential of gains for a business that will thrive in the location, we see the possibility of people getting killed and we want to avoid that.

“So, we tell them to put measures in place before they can build but people don’t always want to do so. They want to build the filling station first and later put measures in place, but who knows before the construction is completed or the day after, there can be accident? So, we choose to have them put the measures in place first.”

The commissioner added that there were instances where filling station developers had been advised to widen the roads to enable tankers negotiate freely within the stations before the construction was done.

He said: “So, if some identified measures are put in place, the chances of tankers fallen into the ditch and fuel spilling is avoided.”

The popular Mobil Filling Station on Oba Akran Road, Ikeja, Lagos, was gutted by fire last week. The fire also destroyed six vehicles and other valuables worth millions of naira.

46 BUSINESS | FINANCIAL MARKET NEWS

Sanctity of Truth

Wednesday, March 26, 2014

FMDQ Daily Quotations List

25-Mar-14

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

Bonds

FGN Bonds Issuer

Rating/Agency

NA

NA

Description

Price

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

31-Mar-07 29-Jun-07 28-Sep-07 23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

10.75 9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00

35.00 45.00 100.00 535.00 327.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 50.00 75.00 150.00 200.00 591.57

31-Mar-14 29-Jun-14 28-Sep-14 23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

0.02 0.26 0.51 1.08 2.40 3.09 3.34 3.44 4.18 5.26 5.58 7.84 9.97 14.68 15.16 15.66 16.33

13.14 13.90 14.39 14.43 14.40 14.36 14.23 14.22 14.16 14.16 14.08 14.08 13.89 13.60 13.57 13.54 13.56

4.48 13.32 14.07 14.26 14.33 14.24 14.10 14.10 14.06 14.08 13.99 14.02 13.84 13.56 13.52 13.48 13.50

99.95 98.73 97.56 89.90 97.30 101.75 88.63 87.11 89.30 106.60 73.22 110.70 101.63 108.72 93.06 67.52 76.80

100.10 98.88 97.71 90.05 97.45 102.05 88.93 87.41 89.60 106.90 73.52 111.00 101.93 109.02 93.36 67.82 77.10

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 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

TOTAL OUTSTANDING VALUE

4,167.04

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

NA

***LCRM

Description

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

TOTAL OUTSTANDING VALUE

#

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

0.60 1.16 1.53 2.71 3.07 3.28

1.00 2.63 2.27 2.00 1.49 1.00

15.44 17.25 16.75 16.27 15.74 15.23

91.47 82.46 100.71 89.11 86.10 84.57

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

0.36 0.56 1.44 0.81 1.34 1.34 3.07 1.90 3.77 2.54 4.53 2.75 2.74 3.33 3.21 5.66 3.36 4.07 6.68 4.08 4.11

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

18.92 20.41 18.96 17.80 19.01 18.03 19.84 21.94 15.98 16.08 15.14 15.27 15.48 15.23 16.70 16.02 16.97 16.91 15.05 15.61 16.12

98.19 96.74 92.18 95.80 94.51 97.41 78.14 88.08 94.47 95.74 96.36 98.54 105.15 98.24 97.17 94.41 94.70 94.01 93.55 102.28 101.95

1,304.32

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

LAFARGE WAPCO

Aa/Agusto Nil Bbb-/Agusto A-/Agusto

GTB µ NGC

BB+/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR A+/Agusto; A-/GCR

*UPDC *FLOURMILLS *CHELLARAMS NAHCO FSDH UBA *C & I LEASING # *DANA *TOWER# *TOWER

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

#

UBA

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

*LA CASERA *CHELLARAMS# NAHCO

15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

IFC

10.20 IFC 11-FEB-2018

07-Oct-11

11.50

11.80

07-Oct-14

0.54

1.00

15.40

98.05

18-Dec-09 01-Apr-10 17-Aug-10

13.50 17.00 10.00

13.17 2.00 15.00

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

0.73 0.77 0.92

5.21 8.71 4.88

19.73 23.25 19.51

95.85 95.70 92.48

09-Dec-10

12.00

37.50

09-Dec-15

1.00

1.00

15.68

96.85

06-Jan-11 29-Sep-11

14.00 13.00

1.50 15.00

06-Jan-16 29-Sep-16

1.08 2.52

2.63 1.00

17.28 15.28

97.21 95.39

25-Oct-13 30-Sep-10

14.25 13.00

5.53 20.00

25-Oct-16 30-Sep-17

2.59 3.52

1.34 4.52

15.61 18.73

97.15 85.69

30-Nov-12 09-Apr-11

18.00 16.00

0.94 8.01

30-Nov-17 09-Apr-18

2.14 2.04

1.88 3.48

16.18 17.78

104.29 97.02

09-Sep-11 09-Sep-11

18.00 16.00

3.63 1.00

09-Sep-18 09-Sep-18

2.46 2.46

5.20 5.06

19.48 19.34

97.44 101.82

22-Sep-11

14.00

35.00

22-Sep-18

4.50

3.06

17.20

90.26

18-Oct-13 17-Feb-12

15.75 17.00

3.00 0.54

18-Oct-18 17-Feb-19

2.32 2.65

2.29 6.11

16.58 20.38

98.55 93.81

14-Nov-13

15.25

2.05

14-Nov-20

6.64

2.76

16.81

93.83

11-Feb-18

3.89

1.00

15.19

85.73

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

175.67

Supranational Bond AAA/S&P

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 BB-/Fitch; BB-/S&P

FGN

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.72

5.57

105.73

106.61

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.85

4.64

101.05

101.85

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

6.08

5.95

102.03

102.98

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

3.86

3.26

113.45

114.60

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.40

4.84

104.19

105.35

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.39

6.11

98.47

99.56

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.25

6.82

99.98

101.25

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.56

8.04

94.24

95.98

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

(Yrs)

Agency Bonds AMCON FMBN

NA

***LCRM

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

TOTAL OUTSTANDING VALUE

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

0.60 1.16 1.53 2.71 3.07 3.28

Yield (%)

Price

15.44 17.25 16.75 16.27 15.74 15.23

91.47 82.46 100.71 89.11 86.10 84.57

1.00 2.63 2.27 2.00 1.49 1.00

1,304.32

BUSINESS | FINANCIAL MARKET NEWS

Sanctity of Truth

Wednesday, March 26, 2014

Sub-National Bonds

A/Agusto KWARA A-/GCR NIGER A+/Agusto KADUNA A/Agusto *EBONYI Nil *BENUE A+/Agusto *IMO A+/Agusto; A+/GCR LAGOS A-/Agusto *BAYELSA A/Agusto EDO A+/Agusto; A+/GCR *DELTA A-/Agusto; A-/GCR NIGER A/Agusto; A-/GCR† *EKITI A-/Agusto *NIGER A/Agusto; A-/GCR *ONDO A/Agusto; A-/GCR *GOMBE Aa-/Agusto; AA-/GCR LAGOS A/Agusto; A-/GCR *OSUN rading activities A/Agusto *OSUNon the Aa-/Agusto; LAGOS Stock floorAA-/GCR of the Nigerian A/Agusto Exchange (NSE)*EKITI yesterday A-/GCR *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 by10.00 activity in the shares of LAGOS 19-APR-2017 Zenith Bank Plc and Access 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 Bank Plc. 14.00 DELTA 30-SEP-2018 Also, other financial insti14.00 NIGER II 4-OCT-2018 tutions sub sector of the finan14.50 EKITI 09-DEC-2018 cial sector, boosted 14.00services NIGER III 12-DEC-2018 ONDO 14-FEB-2019 by15.50 activity in the shares of 15.50 GOMBE 02-OCT-2019 FBHN Holdings Plc, followed 14.50 LAGOS 22-NOV-2019 with a turnover of 48.5 million 14.75 OSUN 12-DEC-2019 shares valued at N472.6 billion 14.75 OSUN II 30-SEP-2020 IV 27-NOV-2020 in13.50 847LAGOS deals.

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

05-Aug-09 14.00 15-Oct-09 14.00 31-Aug-10 12.50 30-Sep-10 13.00 30-Jun-11 14.00 30-Jun-09 15.50 The number of gainers at 19-Apr-10 10.00 the close of trading session on 30-Jun-10 13.75 30-Dec-10 14.00 declinMonday was 31 while 30-Sep-11 ers closed higher at14.00 24.

04-Oct-11 14.00 Costain WA Plc led 09-Dec-11 14.50 on the gainers' table with a gain of 12-Dec-13 14.00 14-Feb-12 15.50at N1.39 9.45 per cent to close 15.50 kobo02-Oct-12 per share while UAC 22-Nov-12 14.50 Property followed with a gain 12-Dec-12 14.75 of 4.71 per cent to close at N20.00 30-Sep-13 14.75 27-Nov-13 Learn Africa 13.50 added per share.

31-Dec-13 14.50 06-Jan-14 15.00

17.00 05-Aug-14 0.36 6.00 15-Oct-14 0.56 8.50 31-Aug-15 1.44 16.50 30-Sep-15 0.81 13.00 30-Jun-16 1.34 18.50 30-Jun-16 1.34 4.67 close at N1.573.07 per 57.00 per cent to 19-Apr-17 share.

50.00 30-Jun-17 1.90 25.00On the other 31-Dec-17 hand, Beta 3.77 50.00 Glass Plc led30-Sep-18 on the price2.54 los9.00 04-Oct-18 4.53 ers' table, dropping at 4.93 per 20.00 09-Dec-18 2.75 cent to close at N17.35 per share 12.00 12-Dec-18 2.74 27.00 3.33 a while AIICO 14-Feb-19 Plc followed with 20.00 02-Oct-19 loss of 4.76 per cent to close 3.21 at 80 80.00 22-Nov-19 5.66 kobo per share.

30.00 12-Dec-19 3.36 gained 4.694.07 per 11.40DN Meyer 30-Sep-20 87.00 to close 27-Nov-20 6.68 cent at N1.22 per share.

5.00 31-Dec-20 4.08 5.00 06-Jan-21 4.11

Stock market rebounds with 0.33% gain RECOVERY

The bulls staged a come back to the NSE yesterday.

Chris Ugwu

T

closed in the green, as the TOTAL OUTSTANDING VALUE twin market indicators – the Corporatecapitalisation Bonds market and the A+/Agusto; AA/GCR LAFARGEup WAPCO All-Share Index inched by Aa/Agusto GTB 0.33 per cent. µ NGC Nil Consequently, *UPDC the AllBbb-/Agusto A-/AgustoIndex gained Share 126.97 ba*FLOURMILLS BB+/GCR sis points to close *CHELLARAMS slightly at A+/Agusto; A-/GCR 37,728.50 as againstNAHCO 37,607.53 A-/Agusto FSDH recorded on Monday , while the A/GCR UBA market capitalisation of equiBBB-/GCR *C & I LEASING # BBB+/DataPro†; BB+/GCR by*DANA ties appreciated N40billion *TOWER#sentiorA-/DataPro†; 0.33 perBB-/GCR cent as market AAA/DataPro†; A+/GCR *TOWER# ments turned green.

A/Agusto; A/GCR UBA Meanwhile, of Bbb+/Agusto; BBB+/GCRa turnover *LA CASERA 273.3 million shares worth BBB-/DataPro†; BB+/GCR *CHELLARAMS# A+/Agusto; A-/GCRin 4,939NAHCO N3.5 billion deals was TOTAL OUTSTANDING VALUE recorded in the day's trading.

The banking sub-sector of Supranational Bond the financial services sector AAA/S&P IFC was theOUTSTANDING most activeVALUE during the TOTAL day (measured by turnover volume);Rating/Agency with 142.5 million shares Issuer worth N1.99 billion exchanged FGN Eurobonds by investors in 1,747 deals.

Volume BB-/Fitch; B+/S&P in the banking sub-sector was largely driven BB-/Fitch; FGN

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

(%)

47

4.88 18.92 5.99 20.41 4.44 18.96 3.23 17.80 4.46 19.01 3.48 18.03 5.59 19.84 7.60 21.94 1.79 15.98 1.80 16.08 1.00 15.14 1.00 15.27 1.21 15.48 1.00 15.23 2.46 16.70 1.94 16.02 2.74 16.97 2.74 16.91 SEC1.00 DG, Aruma Oteh 15.05 1.44 15.61 1.95 16.12

Chapel Hill Denham to merge subsidiaries

98.19 96.74 92.18 95.80 94.51 97.41 78.14 88.08 94.47 95.74 96.36 98.54 105.15 98.24 97.17 94.41 94.70 94.01 93.55 102.28 101.95

567.90

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

COALESCING

Chapel Hill Denham 14.00 CHELLARAMS 06-JAN-2016 Management intends 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 to increase efficiency 13.00 UBA 30-SEP-2017 through mergers.

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 Chris Ugwu

14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018

C

MPR+5.00 CHELLARAMS II 17-FEB-2019 hapel Hill Denham Man15.25 NAHCO II 14-NOV-2020 agement Limited, an as-

set management arm of investment banking group, Chapel Denham, has con10.20 IFC Hill 11-FEB-2018 cluded arrangement to merge two of its mutual Funds - the Nigeria Global Investment Description Fund ('NGIF') and the Chapel Hill Denham Millennium 6.75 JAN 28, 2021 Fund ('CHDMM').

In a statement, Chapel Hill 5.13 JUL 12, 2018 6.38 JUL 12, 2023

07-Oct-11 18-Dec-09

11.50 13.50

11.80 13.17

07-Oct-14 18-Dec-14

0.54 0.73

18-Dec-09

5.13

500.00

12-Jul-18

4.85

01-Apr-10

6.38

500.00

12-Jul-23

6.08

Denham said the merger is ex- ance for navigating today's 01-Apr-10 17.00 2.00 31-Dec-14 0.77 pected to bring about increased marketplace.

17-Aug-10 10.00 15.00 17-Aug-15 0.92 09-Dec-10 1.00 efficiency in terms of12.00 operating 37.50Balogun 09-Dec-15 said : "Chapel 14.00 1.50 was ranked 06-Jan-16the "Best 1.08 costs06-Jan-11 and better professional Hill In29-Sep-11 13.00 15.00 29-Sep-16 2.52 management while also allow- vestment Bank in Nigeria" 25-Oct-13 14.25 5.53 25-Oct-16 2.59 ing for a wider inclusion and House in3.52 Ni30-Sep-10 13.00 of the 20.00 "Best Debt 30-Sep-17 investing public. geria" the last year.

The firm 30-Nov-12 18.00 0.94 30-Nov-17 2.14 09-Apr-11 8.01 09-Apr-18 2.04 The company 16.00 said that provides comprehensive ad09-Sep-11 18.00 3.63 09-Sep-18to a diverse 2.46 the restructuring plans will visory services 09-Sep-11 16.00 1.00 09-Sep-18 2.46 be presented to unit holders client base,22-Sep-18 which includes 22-Sep-11 14.00 35.00 4.50 at its18-Oct-13 upcoming Extra financial institutions, major 15.75 Ordi3.00 18-Oct-18 2.32 nary17-Feb-12 General Meeting corporations, individual2.65 and 17.00 (EGM) 0.54 17-Feb-19 14-Nov-13 2.05 14-Nov-20 billed for Lagos. 15.25 institutional investors 6.64 and Group CEO of Chapel Hill 175.67 government agencies. Our Denham, Bolaji Balogun, said transaction experience spans the company is committed to across several sectors includ11-Feb-13 10.20 12.00 11-Feb-18 3.89 ensuring that stakeholder's 12.00 ing banking, insurance, real interests are protected. estate, manufacturing, teleHeIssue added that Chapel Hill's communications, & Yield gas, Date Coupon (%) Issue Value ($'mm) Maturity Date oil Bid (%) track and sound market aviation and the public secknowledge make it the pre- tor. eminent "Chapel 28-Jan-21 Hill has raised 07-Oct-11choice regionally 6.75 500.00 5.72 for clients in need of guid- considerable capital for a

FMDQ Daily Quotations List

1.00 5.21

15.40 19.73

98.05 95.85

4.64

101.05

101.85

5.95

102.03

102.98

number of institutions and 8.71 23.25 95.70 is 4.88 the number one invest19.51 92.48 1.00 bank in 15.68 ment "success96.85 story" 2.63 17.28 new listings.

97.21 companies and 1.00 15.28 95.39 We have a strong track in sell 1.34 15.61 97.15 side 4.52 and buy 18.73side advisory 85.69 and M&A 1.88are the leading 16.18 104.29 ad3.48 in Nigeria; 17.78 having 97.02 viser com5.20 19.48 97.44 pleted a number of sizable 5.06 19.34 101.82 mergers.

Our investment 3.06 17.20 90.26 banking team 2.29 16.58has garnered 98.55 in-depth regulatory 6.11 20.38 93.81and 2.76 knowledge 16.81 policy over93.83 years of practical experience. The team has expertise in the origination and 1.00 15.19 execution 85.73 of corporate and project finance, divestitures, restructurings, buyouts, Offer Yield (%) M&A, Bid Priceprivatisation Offer Price and share buy-back advisory, Prices Yields offerings and as well as&public private placements in106.61 equity 5.57 105.73 and debt markets."

25-Mar-14

TOTAL OUTSTANDING VALUE 1,500.00 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.

Corporate Eurobonds B-/S&P; B/Fitch

FGN Bonds

B+/S&P; B+/Fitch

Bonds

Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.86

3.26

113.45

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.40

4.84

104.19

08-Nov-13 Coupon (%) 25-Jul-12

6.00 Value Outstanding (N'bn) 7.25

400.00 Maturity Date 350.00

08-Nov-18 TTM (Yrs) 25-Jul-17

6.39 Bid Yield (%) 7.25

6.11Yield Offer (%) 6.82

35.00 6.88

31-Mar-14 300.00 29-Jun-14 300.00 28-Sep-14 300.00 23-Apr-15 16-Aug-16 360.00 27-Apr-17 2,960.00 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 Rate (%) 27-Jan-22 10.7500 14-Mar-24 11.0000 28-Nov-28 11.3750 22-May-29 11.7083 20-Nov-29 11.9583 23-Jul-30

0.02 02-May-18

13.14 8.56

4.48 8.04

Rating/Agency B+/S&P

GTBank PLC II Issuer Access Bank PLC

B/S&P; B/Fitch

Fidelity Bank PLC

B/Fitch

Afren PLC II

B/S&P; B-/Fitch

First Bank PLC

B+/S&P; B+/Fitch

Afren PLC III

TOTAL OUTSTANDING VALUE **TreasuryNABills

DTM 9 16 23 30 44 51 58 TOTAL OUTSTANDING VALUE 65 72 86 Rating/Agency 93 100 107 Agency Bonds 114 135 142 NA 163 254 289 303 TOTAL OUTSTANDING VALUE 317 331Bonds Sub-National 345

NA

Maturity 3-Apr-14 10-Apr-14 17-Apr-14 24-Apr-14 8-May-14 15-May-14 22-May-14 29-May-14 5-Jun-14 19-Jun-14 Issuer 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 AMCON 7-Aug-14 FMBN 14-Aug-14 4-Sep-14 4-Dec-14 ***LCRM 8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15

Description

6.00 NOV 08, 2018 Issue Date 7.25 JUL 25, 2017

10.75 31-MAR-2014 6.88 MAY 09, 201831-Mar-07 9.20 29-JUN-201410.25 APR 08, 2019 29-Jun-07 9.25 28-SEP-2014 28-Sep-07 8.25 AUG 07, 2020 4.00 23-APR-2015 23-Apr-10 13.05 16-AUG-2016 6.63 DEC 09, 202016-Aug-13 15.10 27-APR-2017 27-Apr-12 9.85 27-JUL-2017 27-Jul-07 9.35 31-AUG-2017 31-Aug-07 10.70 30-MAY-2018 30-May-08 16.00Bid 29-JUN-2019 Discount (%) Offer29-Jun-12 Discount (%) 7.00 23-OCT-2019 23-Oct-09 12.15 11.90 16.39 27-JAN-2022 27-Jan-12 12.80 12.55 14.20 14-MAR-2024 14-Mar-14 12.60 12.35 15.00 28-NOV-2028 28-Nov-08 12.85 12.60 12.49 22-MAY-2029 22-May-09 12.80 12.55 8.50 20-NOV-2029 20-Nov-09 12.75 12.50 10.00 23-JUL-2030 23-Jul-10

12.75 12.50 12.85 12.60 13.30 13.05 12.80 12.55 Description 13.20 12.95 13.30 13.05 13.15 12.90 13.35 0.00 AMCON 31-OCT-2014 (SR.5 TR.1)13.10 13.35 13.10 0.00 FMB 24-MAY-2015 12.95 17.25 FMB13.20 II 03-APR-2017 13.15 0.00/16.00 13.40 LCRM 09-DEC-2016 12.75 0.00/16.50 13.00 LCRM II 20-APR-2017 0.00/16.50 13.50 LCRM III 06-JUL-2017 13.25 13.45 13.20 13.45 13.20 13.45 13.20 13.50 13.25

A/Agusto KWARA 14.00 KWARA 5-AUG-2014 A-/GCR NIGER 14.00 NIGER 15-OCT-2014 A+/Agusto KADUNA 12.50 KADUNA 31-AUG-2015 A/Agusto *EBONYI 13.00 EBONYI 30-SEP-2015 *from the Amortising bonds, the average life is calculated and not the duration Nil *BENUE 14.00 BENUE 30-JUN-2016 # Risk Premium is a combination of credit risk and liquidity risk premiums A+/Agusto *IMO 15.50 IMO 30-JUN-2016 **ExclusiveA+/GCR of non-trading t.bills A+/Agusto; LAGOS 10.00 LAGOS 19-APR-2017 A-/Agusto *BAYELSA 13.75 BAYELSA 30-JUN-2017 A/Agusto EDO 14.00 EDO 31-DEC-2017 A+/Agusto; A+/GCR *DELTA 14.00 DELTA 30-SEP-2018 A-/Agusto; A-/GCR NIGER 14.00 NIGER II 4-OCT-2018 A/Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 A-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 A/Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 Modified Duration Total Outstanding A/Agusto; A-/GCR *GOMBE 15.50Porfolio GOMBEMarket 02-OCT-2019 Value(Bn) Volume(Bn) Aa-/Agusto; AA-/GCR LAGOS Buckets 14.50 LAGOS 22-NOV-2019 A/Agusto; A-/GCR *OSUN 14.75 OSUN 12-DEC-2019 A/Agusto *OSUN 14.75 OSUN II 30-SEP-2020

10.75 09-May-13 9.20 08-Apr-12 9.25

07-Aug-13 4.00 13.05 09-Dec-13

15.10 9.85 9.35 10.70 Bid 16.00 Yield (%) 7.00 12.19 16.39 12.87 14.20 12.70 15.00 12.99 12.49 13.00 8.50 12.98 10.00

13.01 13.15 13.66 13.20 Issue Date 13.66 13.80 13.68 13.93 28-Dec-11 14.04 24-May-10 13.91 03-Apr-12 14.25 09-Dec-11 14.29 20-Apr-12 15.12 06-Jul-12 15.14 15.23 15.32 15.47

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 Weighting 02-Oct-12by Outstanding 22-Nov-12Vol 12-Dec-12 30-Sep-13

45.00 10.25

100.00 8.25 535.00 327.47 6.63 452.80 20.00 100.00 300.00 351.30 233.90 Tenor 600.00 CALL 750.00 DAYS 3075.00 DAYS 150.00 60 DAYS 200.00 90 DAYS 591.57

FIXINGS NIBOR

180 DAYS 4,167.04 365 DAYS

12.2083 12.5417

Coupon (%) NITTY Issue Value (N'bn) Tenor Rate (%) 1M 12.9872 2M 13.0105 0.00 978.35 3M 13.3435 0.00 24.56 6M 14.2107 17.25 6.00 9M 14.5723 0.00/16.00 112.22 12M 15.3519 0.00/16.50 116.70 0.00/16.50

66.49

NIFEX

1,304.32

Current Price ($/N) 14.00 17.00 BID($/N) 165.5600 14.00 6.00 OFFER ($/N) 165.6600 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 Weighting

by Mkt 15.50 Value 14.50 14.75 14.75

8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 Bucket20.00 Weighting 80.00 30.00 11.40

FMDQ FGN BOND INDEX

0.26 08-Apr-19

13.90 0.51 14.39 07-Aug-20 7.30 1.08 14.43 2.40 14.40 09-Dec-20 6.47 3.09 14.36 3.34 14.23 3.44 14.22 Money Market 4.18 14.16 5.26 14.16 Tenor Rate (%) 5.58 14.08 OBB 10.25 7.84 14.08 9.97 13.89 O/N 10.50 14.68 13.60 15.16 13.57 REPO 15.66 13.54 Tenor Rate (%) 16.33 13.56

Call 1M 3M 6M Maturity Date

5.22

10.25 11.25 11.92 12.17

Avg. Life/TTM (Yrs)

NOTE:

0.81 1.34 1.34 3.07 1.90 3.77 2.54 4.53 2.75 2.74 3.33 3.21 Implied Yield 5.66 3.36 4.07

99.56 Offer Price 101.25

99.95 100.10 94.24 95.98 13.32 98.73 98.88 114.18 115.40 14.07 97.56 97.71 6.86 103.49 105.17 14.26 89.90 90.05 14.33 97.30 97.45 6.21 100.61 101.64 14.24 101.75 102.05 14.10 88.63 88.93 14.10 87.11 87.41 14.06 Exchange 89.30 89.60 Foreign (Spot & Forwards) 14.08 106.60 106.90 13.99 73.22 73.52 Tenor Bid ($/N) Offer ($/N) 14.02 110.70 111.00 13.84 101.63 101.93 Spot 164.73 164.83 13.56 108.72 109.02 7D 164.98 165.25 13.52 93.06 93.36 14D 165.24 165.62 13.48 67.52 67.82 1M 165.84 167.38 13.50 76.80 77.10

4.64

2M 3M 6M # Risk 1Y Premium (%)

:Benchmarks 31-Oct-14 0.60 1.00 * :Amortising Bond 24-May-15 1.16 2.63 µ :Convertible Bond 03-Apr-17 1.53 2.27 AMCON: Asset Management Corporation of Nigeria 09-Dec-16 2.71 2.00 FGN: Federal Government of 3.07 Nigeria 20-Apr-17 1.49 FMBN: 06-Jul-17 Federal Mortgage Bank of Nigeria 3.28 1.00 IFC: International Finance Corporation LCRM: Local Contractors Receivables Management NAHCO: Nigerian Aviation Handling Company NGC: Nigeria-German Company 05-Aug-14 0.36 4.88 UBA: United Bank for Africa 0.56 Company 5.99 UPDC: 15-Oct-14 UAC Property Development 31-Aug-15 4.44 WAPCO:West Africa Portland 1.44 Cement Company 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 % Exposure_ 02-Oct-19 Mod_Duration 22-Nov-19 12-Dec-19 30-Sep-20

98.47 Bid Price 99.98

114.60 Price 105.35

3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00 Implied 2.46 Portfolio Price 1.94 2.74 2.74

167.00 168.22 171.72 178.74 Valuation

Yield (%)

169.14 171.47 176.35 188.43 Indicative

Price

NA :Not15.44 Applicable 91.47 # :Floating 17.25Rate Bond 82.46 ***: Deferred 16.75 coupon bonds 100.71 16.27

†: Bond15.74 rating expired 15.23

18.92 20.41 18.96 17.80 19.01 18.03 19.84 21.94 15.98 16.08 15.14 15.27 15.48 15.23 16.70 INDEX 16.02 16.97 16.91

89.11 86.10 84.57

98.19 96.74 92.18 95.80 94.51 97.41 78.14 88.08 94.47 95.74 96.36 98.54 105.15 98.24 YTD 97.17 Return (%) 94.41 94.70 94.01

48 BUSINESS | MONEY LINE

Sanctity of Truth

Wednesday, March 26, 2014

CBN's independence must be maintained –Ex Goldman Sachs chair

AUTONOMY The CBN’s sovereignty should be preserved.

Chris Ugwu

Tasks African leaders on good governance

T

he nominated Central Bank of Nigeria (CBN) governor, Godwin Emefiele should maintain the institution’s independence, former chairman of Goldman Sachs Asset Management, Jim O’Neill, has said.

He also said that Africa's future depends on the continent's policy makers doing the right thing.

Yields on the government’s Eurobonds due July 2023, according to Bloomberg news, climbed to a seven-month high and the Naira dropped to a record low after Emefiele’s predecessor, Sanusi Lamido Sanusi’s tenure was cut short four months early on February 20. Sanusi had highlighting corruption. President Goodluck Jonathan accused Sanusi of “financial recklessness and misconduct,” allegations that he denies.

“If I were a leader in this country, I’d pay attention to the fact that the markets didn’t like how that was done,” O’Neill, an Economist and a Bloomberg View columnist, told Bloomberg TV Africa in an interview

scheduled to air on March 29.

Tension between Sanusi and Jonathan has escalated since December, when the suspended CBN chief called for an investigation into the Nigerian National Petroleum Corporation (NNPC) for allegedly withholding billions of dollars of oil revenue. Nigeria was listed at 144th out of 177 countries on Transparency International’s Corruption Perception Index last year.

“Clearly a lot of oil revenue has gone missing and the issue needs to be placed on the table and brought into more public focus,” O’Neill, creator of the BRICs and MINT acronyms said. “He’s certainly done that.”

BRICS is an acronym for Brazil, Russia, India and China, while MINT stands for Mexico, Indonesia, Nigeria and Turkey.

Yields on Nigerian 2023 bonds have dropped to 6.08 percent on Monday, down from 6.51 per cent on February 24, according to data compiled by Bloom-

Acting CBN Governor, Dr. Sarah Alade

berg. The naira traded at N165 per dollar, 2.4 per cent stronger since touching a record low February 20. The nation’s allshare index declined 2.8 per cent since Sanusi’s suspension.

The banking watchdog kept its benchmark interest rate at a record-high 12 per cent yesterday while the cash-reserve requirement on private-sector funds was increased by three percentage points to 1.

Speaking at the Africa Fi-

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

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

T Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

FX

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

Andrew Alli, President and CEO of the AFC, noted the vision of AFC was to bridge the infrastructure divide and seek a strong return for the Corporation’s shareholders at the same time.

"We believe our core role comes at the earliest stage of project conception and development. While international capital will be fundamental in bridging the investment divide, that capital will have nowhere to go if Africa does not focus on the development of bankable, sustainable projects.

By focusing on supporting project development and using our local knowledge and sector expertise to identify and mitigate risk, we come into transactions at an earlier stage than many investors.

“Our role is to accelerate the number of viable, bankable projects across the continent, creating the market for other forms of capital that will follow, and ultimately bridging the investment divide that exists. We believe landmark transformational projects can yield financial dividends every bit as powerful as their social ones and our success to date demonstrates this," he said.

NDIC gets award at Kaduna fair

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

nance Corporation's (AFC’s) inaugural summit held yesterday in Lagos, O’Neill said the policy makers should be committed in working to create better governance, reducing crime, fighting corruption and delivering improved infrastructure.

"Infrastructure development is both a defining challenge and a standout investment opportunity for Africa and investors around the world. For example, Nigeria is growing at 7% despite poor access to power; decent power could boost economic growth to 10%-12%. There is no reason why Nigeria should not become one of the G20," he said.

The summit, which attracted more than 500 leading thinkers from government, academia, business and finance, fuelled energetic debate on both the opportunities and the challenges of the African infrastructure landscape.

Infrastructure in general has been estimated to have the potential to add an average of 2 per cent to Africa's economic growth rate over the next decade as investment is brought to bear to bridge the current US$40 billion per annum investment deficit.

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

he Nigeria Deposit Insurance Corporation (NDIC) has won the “Best Public Enlightenment Participant” award at the just concluded 35th Kaduna International Trade Fair, a statement from the Corporation has said.

A statement signed its Head, Corporate and Public Affairs Unit, Mr Hardi Birchi, said that the NDIC won the award after the assessment of its public enlightenment activities at the fair by the Kaduna Chamber of Commerce, Industry, Mines and Agriculture.

The statement quoted the corporation’s Managing Director, Alhaji Umaru Ibrahim, as saying that NDIC had adopted multi-faceted initiatives in its efforts to enhance public awareness on its mandate and activities.

Ibrahim said the corporation had been participating in major international trade fairs in the country since 2007 as part of its

public awareness drive.

The statement listed such fairs as Kaduna, Lagos, Enugu, Kano, Niger Delta and Yenagoa international trade fairs.

It said the thrust of the corporation’s public awareness initiatives was to win public trust, appreciation and confidence through better understanding of its core mandate and activities.

The statement said the drive to achieve the aspiration was put on a higher pedestal in 2013 with a re-branding project embarked upon by the corporation.

It said the NDIC new slogan, “Protecting your Bank Deposits”, distinguished the corporation from conventional insurance companies.

The statement said that the NDIC’s re-branding initiative was not about change of logo and colours, but to distinguish the corporation for its qualitative service delivery to depositors and other stakeholders.

Sanctity of Truth

Wednesday, 26, 2014 Daily SummaryMarch as of 25/03/2014

Daily Summary as of 25/03/2014 Printed 25/03/2014 14:36:28.028

Printed 25/03/2014 14:36:28.028

BUSINESS | CAPITAL MARKET 49

The Nigerian Stock Market Exchange as at March 25, 2014 Daily Summary (Bonds)

Daily Summary (Equities)

No Debt Trading Activity

Activity Summary on Board EQTY

Daily Summary (Equities)

ICT Computers and Peripherals Computers and Peripherals Totals

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

Symbol FTNCOCOA OKOMUOIL PRESCO Symbol LIVESTOCK

No. of Deals 1 6 11 18

Current Price 0.50 42.00 41.00

No. of Deals 46 46

Current Price 3.34

AGRICULTURE Totals CONGLOMERATES Daily Summary as of 25/03/2014 Diversified Industries Printed 25/03/2014 14:36:28.028 A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

64 Symbol AGLEVENT TRANSCORP UACN

No. of Deals 8 153 74 Daily Summary (Equities) 235

CONGLOMERATES Totals

235

Activity Summary on Board EQTY CONSTRUCTION/REAL ESTATE Structure/Completion/Other Published Building

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

Current Price 1.40 3.71 59.36

Symbol COSTAIN

No. of Deals 7 7

Current Price 1.39

Quantity Traded 1,000 8,929 87,890 97,819

Value Traded 500.00 356,267.10 3,601,407.20 3,958,174.30

Quantity Traded 1,229,190 1,229,190

Value Traded 4,179,478.34 4,179,478.34

1,327,009

8,137,652.64

Quantity Traded 293,208 17,504,504 1,136,663 18,934,375

Value Traded 410,031.00 65,126,368.65 67,439,869.14 132,976,268.79

18,934,375

132,976,268.79

No. of Deals 3 3

Current Price 71.25

Quantity Traded 6,000 6,000

Value Traded 406,140.00 406,140.00

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

Symbol UAC-PROP

No. of Deals 17 17

Current Price 20.00

Quantity Traded 211,560 211,560

Value Traded 4,121,183.00 4,121,183.00

313,627

4,660,030.13

Quantity Traded 6,000 793,292 82,600 943,585 1,825,477

Value Traded 82,740.00 135,380,201.74 2,039,429.50 142,594,936.98 280,097,308.22

Quantity Traded 372,035 372,035

Value Traded 33,472,521.58 33,472,521.58

CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC Daily Summary as of 25/03/2014 INTERNATIONAL BREWERIES PLC. Printed 25/03/2014 14:36:28.028 NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

27 Symbol CHAMPION GUINNESS INTBREW NB Symbol 7UP

Current Price 14.51 175.99 23.14 151.01

No. of Deals 27 27

Current Price 90.00

Daily Summary (Equities)

Activity Summary on Board EQTY CONSUMER GOODS Food Published by The Products Nigerian Stock Exchange © DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC U T C NIG. PLC. Food Products Totals

No. of Deals 1 64 17 185 267

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC Daily Summary as of 25/03/2014 Printed 25/03/2014 14:36:28.028 BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. PAINTS AND COATINGS MANUFACTURES PLC

Activity Summary on Board EQTY

Value Traded 1 of 12 132,707.13 132,707.13

Symbol JBERGER

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Activity Summary on Board EQTY

No. of Deals 38 97 135

Current Price 78.00 973.00

Quantity Traded 108,314 91,584 199,898

Value Traded 8,040,222.86 89,408,758.14 97,448,981.00

Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals

Symbol VITAFOAM VONO

No. of Deals 14 1 15

Current Price 4.28 1.66

Quantity Traded 412,183 240 412,423

Value Traded 1,740,351.90 379.20 1,740,731.10

Symbol PZ UNILEVER

No. of Deals 39 69 108

Current Price 30.69 45.50

Quantity Traded 191,061 788,978 980,039

Value Traded 5,935,159.55 36,028,921.29 41,964,080.84

9,390,195

537,321,318.31

Insurance Carriers, Brokers and Services AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC.

Page

3

of

No. of Deals 194 43 58 69 392 130 32 197 92 40 502 1,749

Current Price 7.50 6.21 13.25 2.18 25.84 3.70 2.24 7.00 10.15 1.00 20.11

Quantity Traded 33,297,570 797,429 10,250,272 2,710,292 22,052,473 6,042,768 2,163,861 19,997,136 1,606,606 2,297,264 41,349,383 142,565,054

Value Traded 248,677,899.27 4,990,519.82 135,814,473.84 5,909,487.06 567,785,617.16 21,916,817.93 4,834,599.52 143,394,924.60 16,335,627.45 2,229,948.97 842,364,264.17 1,994,254,179.79

Symbol

No. of Deals 2 38

Current Price 0.50 0.80

Quantity Traded 1,000,000 2,718,300

Value Traded 500,000.00 2,187,094.00

DailyAFRINSURE Summary (Equities) AIICO

Mortgage Carriers, Brokers and Services Daily Summary as ofMORTGAGE 25/03/2014 BANK PLC ABBEY Printed 25/03/2014 14:36:28.028 ASO SAVINGS AND LOANS PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC

Activity Summary on Board EQTY

FINANCIAL SERVICES Other Financial Institutions CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Value Traded 628,305.56 2,157,800.00 5,000.00 1,985,854.97 11,016.00 4 9,200.00 of 12 18,909,658.20 5,250.00 1,440,860.00 60,000.00 2,802,900.00 680,114.09 1,500.00 5,000.00 4,106,316.24 35,495,869.06

Symbol ABBEYBDS ASOSAVINGS UNHOMES

No. of Deals 2 7 1 10

Current Price 1.35 0.50 0.50

Quantity Traded 150 452,500 11,250 463,900

Value Traded 193.50 226,250.00 5,625.00 232,068.50

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

Quantity Traded 3,133,879

Value Traded 9,172,610.34

Page Symbol CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

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

Published by The Nigerian Stock Exchange ©

Current Price 2.03 11.97 3.38 0.62 21.00 2.49

2,862 Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

HEALTHCARE Totals ICT Computers and Peripherals OMATEK VENTURES PLC

No. of Deals 10 508 32 2 40 162 847

No. of Deals 4 10 20 23 11 1 69

Current Price 2.22 2.90 70.00 1.97 1.52 1.57

69 Symbol OMATEK

No. of Deals 1

Current Price 0.50

5

of

Quantity Traded 231,764 34,982,979 2,453,174 20,000 686,090 7,009,786 48,517,672

Value Traded 468,518.24 422,641,645.43 8,329,867.12 11,860.00 14,353,875.89 17,665,024.46 472,643,401.48

227,230,784

2,502,625,518.83

Quantity Traded 53,264 216,500 53,850 263,574 94,947 1,000 683,135

Value Traded 118,159.68 621,695.00 3,771,582.11 520,217.15 137,673.15 1,570.00 5,170,897.09

683,135

5,170,897.09

Quantity Traded 7,000

Value Traded 3,500.00

Page

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Current Price 14.90 9.60 45.00 8.75 230.00 1.22 1.90

Quantity Traded 562,669 397,892 28,015 192,840 427,438 401,075 13,543

Value Traded 8,265,301.40 3,773,066.22 1,197,641.25 1,727,586.00 97,498,248.84 490,901.50 24,512.83

Value Traded 615,725.00 68,447,684.30 182,040,667.34

Symbol No. of Deals ASHAKACEM 53 BERGER 26 CAP 10 CCNN 15 DANGCEM 44 Daily Summary (Equities) DNMEYER 4 PAINTCOM 3

Symbol PORTPAINT WAPCO

No. of Deals 8 57 220

Current Price 4.10 110.58

Quantity Traded 149,900 618,714 2,792,086

Symbol CUTIX

No. of Deals 13 13

Current Price 1.99

Quantity Traded 231,100 Page 231,100

Symbol AVONCROWN BETAGLAS VANLEER

No. of Deals 1 3 1 5

Current Price 1.55 17.35 12.68

Quantity Traded 2,561 62,000 20 64,581

Value Traded 3,969.55 1,075,580.00 253.60 1,079,803.15

3,087,767

183,570,470.49

Quantity Traded 1,000 1,000

Value Traded 500.00 500.00

1,000

500.00 Value Traded 1,051,535.00

238 Symbol MULTIVERSE

No. of Deals 1 1

Current Price 0.50

1

Daily Summary (Equities)

No. of Deals 18

Current Price

Quantity Traded 2,103,070

Value Traded 1,051,535.00

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

Symbol OANDO

No. of Deals 323 323

Current Price 17.81

Quantity Traded 6,557,475 6,557,475

Value Traded 117,992,040.07 117,992,040.07

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 3 4 98 42 3 20 170

Current Price 51.90 3.83 92.00 123.00 54.44 153.60

Quantity Traded 4,633 46,660 557,317 32,176 4,536 57,617 702,939

Value Traded 228,453.23 169,842.40 51,129,522.75 3,964,005.20 234,601.92 8,887,787.20 64,614,212.70

9,363,484

183,657,787.77

Symbol RTBRISCOE

No. of Deals 6 6

Current Price 1.35

Quantity Traded 48,072 48,072

Value Traded 62,012.88 62,012.88

Current Price 4.47 2.49

Quantity Traded 16,200 63,500

Value Traded 69,975.00 150,495.00

SERVICES Courier/Freight/Delivery Courier/Freight/Delivery Totals

Page

511

Daily Summary (Equities) Symbol No. of Deals REDSTAREX TRANSEXPR

4 4

Page

8

of

9

of

Symbol

No. of Deals 8

Current Price

Quantity Traded 79,700

Value Traded 220,470.00

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 7 7

Current Price 0.50

Quantity Traded 1,195,058 1,195,058

Value Traded 597,529.00 597,529.00

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

Symbol IKEJAHOTEL TOURIST

No. of Deals 6 1 7

Current Price 0.60 4.08

Quantity Traded 58,200 15 58,215

Value Traded 36,566.00 58.20 36,624.20

Media/Entertainment DAAR COMMUNICATIONS PLC Media/Entertainment Totals

Symbol DAARCOMM

No. of Deals 3 3

Current Price 0.50

Quantity Traded 47,000 47,000

Value Traded 23,500.00 23,500.00

Printing/Publishing

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 7 9 7 23

Current Price 1.80 1.57 3.50

Quantity Traded 29,000 249,907 19,578 298,485

Value Traded 49,590.00 372,744.61 71,569.26 493,903.87

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

Quantity Traded 442,000 442,000

Value Traded 398,328.56 398,328.56

ACADEMY PRESS PLC. Daily Summary as of 25/03/2014 LEARN AFRICA PLC Printed 25/03/2014 14:36:28.028 UNIVERSITY PRESS PLC. Printing/Publishing Totals Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

ABCTRANS

6 6

0.90

Symbol NSLTECH

No. of Deals 1 1

Current Price 0.50

Page Quantity Traded 5,000 5,000

Symbol AIRSERVICE NAHCO

No. of Deals 10 33 43

Current Price 2.60 5.20

Quantity Traded 248,450 477,121 725,571

Value Traded 648,758.00 2,413,485.24 3,062,243.24

104

2,899,101

4,897,111.75

4,937

273,237,562

3,563,021,215.60

Quantity Traded 500 500

Value Traded 655.00 655.00

500

655.00

Activity Summary on Board EQTY SERVICES

Specialty Published by The Nigerian Stock Exchange © SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

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

EQTY Board Totals

Daily Summary (Equities)

12

12

10 of 12 Value Traded 2,500.00

2,500.00

Activity Summary on Board ASeM CONSUMER GOODS Daily Summary of 25/03/2014 Foodas Products Printed 25/03/2014 14:36:28.028 MCNICHOLS PLC

Food Products Totals

CONSUMER GOODS Totals 12

Value Traded 450,000.00 of 12 450,000.00

7

Symbol

Activity Summary on Board EQTY

Quantity Traded 650,011 4,315,000 10,000 3,691,110 22,032 18,400Page 9,430,590 10,500 1,982,800 120,000 5,005,000 1,238,937 3,000 10,000 5,458,478 35,684,158

Published by The Nigerian Stock Exchange ©

3,659.80

Published by The Nigerian Stock Exchange ©

Current Price 0.95 0.50 0.50 0.56 0.50 0.50 2.08 0.50 0.70 0.50 0.56 0.57 0.50 0.50 0.74

2.93

7,085

2

Quantity Traded 2,103,070

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

No. of Deals 8 8 1 17 17 1 31 2 22 5 4 7 1 1 91 256

93

Value Traded 159.80 159.80

Current Price 0.50

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

Symbol CONTINSURE CORNERST GUINEAINS INTENEGINS LASACO LINKASSURE MANSARD MBENEFIT NEM NIGERINS OASISINS PRESTIGE STDINSURE UNITYKAP WAPIC

AFRIPRUD

Quantity Traded 85 85

OIL AND GAS Totals

Activity Summary on Board EQTY FINANCIAL SERVICES Insurance Carriers, Brokers and Services CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LINKAGE ASSURANCE PLC Published by The Nigerian Stock Exchange © MANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC PRESTIGE ASSURANCE CO. PLC. STANDARD ALLIANCE INSURANCE PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

Current Price 1.97

No. of Deals 18

Daily Summary as of 25/03/2014 SERVICES 14:36:28.028 Printed 25/03/2014

12

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

No. of Deals 1 1

Symbol JAPAULOIL

OIL AND GAS Energy Equipment and Services Energy Equipment and Services Totals

Symbol CADBURY NESTLE

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. Daily SummaryWEMA as of 25/03/2014 BANK PLC. Printed 25/03/2014 14:36:28.028 ZENITH INTERNATIONAL BANK PLC Banking Totals

Symbol TRIPPLEG

Published by The Nigerian Stock Exchange ©

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

Published

by TheSummary Nigerian Stock Exchange © Activity on Board EQTY

Value Traded 3,500.00

NATURAL RESOURCES Totals

2Value Traded of 12 1,919,012.22 44,101,348.75 33,819,495.25 748,863.74 1,995,677.61 13,298.00 82,597,695.57

824

Quantity Traded 7,000

Printed 25/03/2014 14:36:28.028

Page Quantity Traded 221,804 4,479,620 508,350 199,175 167,474 23,900 5,600,323

Daily Summary (Equities)

Electronic and Electrical Products CUTIX PLC. Published by The Nigerian Exchange © Totals Electronic andStock Electrical Products

NATURAL RESOURCES Mining Services MULTIVERSE PLC Daily Summary as of 25/03/2014 Mining Services Totals

Current Price 8.61 9.80 67.25 3.71 12.00 0.56

CONSUMER GOODS Totals

Current Price

INDUSTRIAL GOODS Totals

No. of Deals 34 118 70 28 19 3 272

UNILEVER NIGERIA PLC. Personal/Household Products Totals

INDUSTRIAL GOODS Building Materials PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

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

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UTC

Daily Summary as of 25/03/2014Products Personal/Household Printed 25/03/2014 14:36:28.028 P Z CUSSONS NIGERIA PLC.

No. of Deals 1

ICT Totals

Quantity Traded Page 96,067 96,067

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

CONSTRUCTION/REAL ESTATE Totals

IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals

Symbol

Symbol MCNICHOLS

No. of Deals 1 1

Daily Summary (Equities)

Current Price 1.37

1

Activity Summary on Board ASeM OIL GAS Published byAND The Nigerian Stock Exchange © Petroleum and Petroleum Products Distributors CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals

Symbol CAPOIL

No. of Deals 1 1

OIL AND GAS Totals

Current Price 0.50

Page Quantity Traded 18,000 18,000

1

11 of 12 Value Traded 9,000.00 9,000.00

18,000

9,000.00

ASeM Board Totals

2

18,500

9,655.00

Equity Activity Totals

4,939

273,256,062

3,563,030,870.60

Daily Summary (ETP) Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol NEWGOLD VETGRIF30

No. of Deals 1 5 6

Current Price 2,095.00 16.95

Quantity Traded 100 26,830 26,930

Value Traded 209,500.00 454,768.50 664,268.50

ETF Board Totals

6

26,930

664,268.50

ETP Activity Totals

6

26,930

664,268.50

12

Published by The Nigerian Stock Exchange ©

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50 WORLD | NEWS

Sanctity of Truth

Wednesday, March 26, 2014

China demands satellite data of crashed Malaysian plane Sylva Okereke

with Agency Report

C

hina has demanded for the satellite data, used to conclude that a Malaysia Airlines jetliner crashed in southern Indian Ocean, killing everyone on board, just as heavy rain yesterday, halted the search for the remains of the plane.

The weather is expected to improve today, so that the multinational search being conducted out of Perth and Australia could possibly resume. But the searchers will face a daunting task of combing a vast expanse of choppy seas for suspected remnants of the aircraft sighted earlier.

“We are not searching for a needle in a haystack, we are

still trying to define where the haystack is”, Australia’s Deputy Defense Chief, Air Marshal Mark Binskin told reporters at a military base in Perth as idled planes stood behind him.

The Australian and Chinese planes, searching the missing plane spotted floating objects in an area of 2,500 kilometers (1,550 miles) southwest of Perth on Monday, but none was retrieved.

“Now, with the harsh weather and a 24-hour delay in the search, those objects and other possible debris from the plane could drift to an even wider area”, he added.

In his remarks, the Malaysian Parliament, Prime Minister Najib Razak cautioned that the search will take a long time and “we will have to face unex-

pected and extraordinary challenges.”

On Monday, Najib announced that the Boeing 777 had gone down in the sea with no survivors. But that’s all that investigators and the Malaysian government have been able to say with certainty about Flight 370’s fate, since it disappeared on March 8, shortly after taking off from Kuala Lumpur to Beijing.

Left unanswered are many troubling questions about why it was so far off. Experts piecing together radar and satel-

lite data believe the plane back-tracked over Malaysia and then traveled in opposite direction to the Indian Ocean.

Investigators will be looking at various possibilities, including mechanical or electrical failure, hijacking, sabotage, terrorism or issues related to the mental health of the pilots or someone else on board.

“We do not know why. We do not know how. We do not know how the terrible tragedy happened,” the airline’s Chief Executive, Ahmad Jauhari Yahya told reporters.

Monday night’s announcement unleashed a storm of sorrow and anger among the families of the plane’s 239 passengers and crew, two-thirds of them Chinese. Family members of the missing passengers have complained bitterly about a lack of reliable information and some say they are not being told the whole truth.

Nearly 100 relatives and their supporters marched to the Malaysian Embassy in Beijing, where they threw plastic water bottles, tried to rush the gate and chanted, “Liars!”

Russia out of G8, now G7

T

his year’s G8 summit will no longer hold in Sochi, Russia as planned and will not include Russia at all.

This is coming on the heels of seven other world leaders in the group of industrialized nations resolution to kick Russia out the group.

The seven leaders, who met at the behest of President Obama said, instead of Sochi, the now G7’s summer meeting will hold in Brussels.

In a statement, the G7 explained their decision. It has to do with Russia’s annexation of Crimea.

“International law prohibits the acquisition of part or all of another state’s territory through coercion or force. To do so vio-

lates the principles upon which the international system is built.

“We condemn the illegal referendum held in Crimea in violation of Ukraine’s constitution. We also strongly condemn Russia’s illegal attempt to annex Crimea in contravention of international law and specific international obligations”, he said.

The G7 also threatened more sanctions against Russia for the annexation.

Meanwhile, Russian Foreign Minister, Sergei Lavrov has already suggested that Russia was kind of over the G8 anyway. “If our Western partners believe the format has exhausted itself, we don’t cling to this format. We don’t believe it will be a big problem, if it doesn’t convene,” he said.

South Africa loses billion dollars to strike

L

eaders of South Africa’s platinum mines have said the nine-week long strike by workers has caused ‘irreparable’ damage and has cost the sector nearly $1 billion.

Miners at Anglo American Platinum, Lonmin and Impala Platinum want their pay to be doubled. But the companies said they cannot afford to meet the workers’ demands.

The strike has damaged mining communities in the platinum belt northwest of Johannesburg, they said.

“Mines and shafts are becoming unviable; people are hungry; children are not going to school; businesses are closing and crime is increasing,” the companies said in a joint statement.

The sector had lost “close to

10bn rand ($920m) in revenue” they said.

It is irresponsible to take workers on such a long strike, where there are no prospects of achieving the demands” Miners were reportedly having to sell cattle to make up for the shortfall in their wages, which, across tens of thousands of workers, amounts to 4.4bn rand ($406m). Local businesses have reported falling trade as large numbers of migrant workers have gone home.

Discussions between the AMCU union and the three biggest platinum produces have come to a halt. Unions want the workers’ basic salary increased to 12,500 rand ($1,155; £702) a month for the lowest paid workers over a period of four years.

Military carry the flag-drapped coffin of former Spanish Prime Minister Adolfo Suarez outside the Spanish Parliament in Madrid yesterday. Tens of thousands of mourners have filed past the coffin of Adolfo Suarez, the statesman who led Spain to democracy after the four-decade Franco dictatorship. Suarez died on Sunday, aged 81.

North Korea accuses US of hurting ties with South

N

orth Korea has accused the United States of undermining the prospect of improved relations with South Korea as well as reviving the six-party talks on its nuclear programme by escalating “hostile” military activity and policies.

Pyongyang’s Deputy U.N. Ambassador, Ri Tong Il said at a news conference that the North’s nuclear weapons are not a “political bargaining chip.”

He warned that as long as the U.S. continues “nuclear blackmails”, North Korea will continue to take “additional measures”, which he refused to disclose in order to demonstrate the power of the self-defensive nuclear deterrent.

Ri contrasted the move the international community gave to high-level talks between North and South Korea, which led to a revival of family reunion and “great expectations of the entire Korean nation toward wide-open

dialogue, easing of tensions, reconciliation and unification of the country” with the U.S. refusal to halt military drills with South Korea as Pyongyang requested.

As North and South Korean representatives were meeting, Ri said, the U.S. flew nuclear-weapon carrying B52 bombers over South Korea “undermining the climate change towards relaxation. And while separated families were meeting at Diamond Mountain, the U.S. went ahead with drills that included nuclear-armed submarines and the newest missilecarrying destroyers, he said.

Using the initials of the Democratic People’s Republic of Korea, the country’s official name, Ri said the United States is intent “on politically eliminating the DPRK as a regime, economically stifling the DPRK and militarily annihilating the DPRK.” Without naming President Barack Obama, but referring directly to him, Ri said, “As

long as the U.S. government is in pursuit of so-called strategic patience, dreaming of the change of DPRK, the DPRK will take and exercise high degree of patience, waiting until a man of normal and reasonable vision and idea enters into the seat of the White House.”

North Korea walked away from the six-party nuclear disarmament talks in 2009 over disagreements on how to verify steps the North was meant to take to end its nuclear programme.

The U.S. and its allies are demanding that the North demonstrate its sincerity in ending its drive to acquire nuclear weapons. Ri said U.S. preconditions are a pretext “to justify their rejection of the dialogue.”

“DPRK has been treating and remaining open to six-party talks without setting any preconditions,” he said. “And still DPRK is open, but I don’t believe, U.S. will come to the table.”

Para athletes motivated to succeed – Kasumu Charles Ogundiya

T

he Technical Director of the Nigeria Para-Athletic Federation, Taiwo Kasumu, has said the secret behind the high success rate of special athletes at competitions is their resolve to make it

in life.

Speaking with New Telegraph in Lagos at the weekend, Kasumu said physically challenged athletes believed that by winning laurels for Nigeria, the government would come to their aid. They take victory as their personal poverty alleviation

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

51

program.

“At any point when the athletes want to go for competitions, they make sure they train hard to meet the world standard.

Some athletes that won medals at the last Olympic Games knew what they got CONTINUED ON PAGE 55

Did you know?

NEW TELEGRAPH

newtelegraphonline.com/sports

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

WEDNESday, march 26, 2014

That Liberian player, George Weah, paid for the team’s Jerseys and all the expenses, so that the team could play in the 1996 African Nations’ Cup

Keshi: No player can bribe me

Adekunle Salami

S

uper Eagles coach, Stephen Keshi, on Tuesday said no player can bribe him for any reason in the discharge of his duty.

Keshi who was speaking at a forum, Editors’ Roundtable, organised by Cadbury Nigeria Limited, stressed that no player in the Nigerian team had enough to satisfy what he wants.

He said; “I am aware there are insinuations here and there but that is bound to happen to a public figure but I know what I can do. There is no player in the Super Eagles who can bribe me. They cannot even give me what I want as a person so there is no basis for it.

“As a coach, I am just okay. If I need money desperately I will dump this job and go for countries ready to pay four times what Nigeria is paying me. I have my own aspirations and I cannot descend low to be taking bribe from players.”

Keshi explained further that he was aware that bribery was prevalent in the Nigeria football scene but as a person he won’t do such.

“I know they do this thing indirectly but it is a bad habit. I cannot pretend that we do not CONTINUED ON PAGE 55

Barca to make Messi world’s best paid

Wolves, Enyimba match now april 9

Odemwinge begs NFF, Keshi

}p.52

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52 SPORT | EURO FOOTBALL

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arcelona president, Josep Maria Bartomeu, has insisted that Lionel Messi will become the world’s highest-paid footballer once negotiations over his new contract are finalised.

The four-time World Player of the Year has a contract with the Catalan giants until 2018, but Bartomeu said talks were on-going with the player’s father and principal agent Jorge Horacio Messi over a deal that would surpass the five-year contract Cristiano Ronaldo signed with Real Madrid in September last year.

“We are in the midst of the season, so it is not the moment to be negotiating with him, but it is the moment to talk to the agents and with his father and that is what we are doing,” Bartomeu said in an exclusive interview with AFP sports.

Sanctity of Truth

Wednesday, March 26, 2014

Barca to make Messi world’s best paid

“We will talk with them about how we see the player. He is our star and he has a contract until 2018 because we want him to participate in our future, but there is the will within the club that he becomes the best paid player in the world.

“He is the No 1 and, as we have said

various times, he also deserves to be the best-paid player in the world.”

Messi had been plagued by muscular injuries early in the season, but has recently returned to top-form as he has scored a hat-trick in consecutive games, most recently, in Sunday’s thrilling 4-3 win away to Real Madrid.

Messi (left)

Sagna to join Manchester City

A

rsenal defender Bacary Sagna looks as if he could be set to join Premier League rivals Manchester City, reports suggests.

According to The Daily Star, Sagna has turned down a £9 million offer from Serie A giants Inter Milan and now looks set to join the Citizens on a free transfer this summer.

The same report further claims that French international Sagna - who currently earns £60,000-per-week at Arsenal on a contract that is due to expire at the end of the season - has been offered a £90,000-per-week, two-year deal to switch to the San Siro with the pos-

Sagna

sibility of a third year but is leaning towards remaining in the Premier League.

31-year-old right-back Sagna joined Arsenal from Ligue 2 outfit Auxerre back in 2007 and has become a reliable stalwart of Arsene Wenger’s backline ever since.

Having made well over 200 appearances for the Gunners, it was generally assumed by many fans that he would sign an extension to his expiring deal at the Emirates Stadium.

However, despite the club offering him a further two-year stay on the same wages, he is yet to sign on the dotted line.

Chelsea to trigger £32m claus

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Costa

helsea are ready to meet the £32m release clause written into Diego Costa’s Atletico Madrid contract according to Football Direct News.

Blues owner Roman Abramovich is ready to fork out the sum as Jose Mourinho frantically searches for a prolific goalscorer to lead his attack.

Mourinho has identi-

Madrid to splash £25m on Joe Hart Beckham announces Miami stadium plans

R

EAL MADRID are plotting a sensational £25m summer swoop for England star Joe Hart.

The Spanish giants are weighing up a shock move for the Manchester City keeper.

Hart, 26, has been added to Real’s wanted list as they prepare to shake up their goalkeeping department.

Real and Spain icon Iker Casillas has fallen down the pecking order at the Bernabeu and knows his long term future is in serious doubt.

Casillas, who has been relegated to the role of back-up keeper, could even

be offered to City as part of an exchange deal involving Hart.

Current Real No.1 Diego Lopez has not convinced boss Carlo Ancelotti he is the long-term successor to Casillas and is also a target of Italian giants AC Milan.

Hart shares the same representatives as Gareth Bale, who joined Real for a world record £85m last summer.

Although he was axed earlier this season by City boss Manuel Pellegrini following a series of costly blunders, he has bounced back to regain his best form and his place as City’s first choice.

D

avid Beckham has unveiled plans to build a 25,000-seater stadium on Miami’s waterfront for his MLS franchise.

The former Manchester United and England midfielder is keen to construct a venue that reflects the local area, affording crowds in the stadium views of the city’s skyline and of Miami Bay. It is thought that there could be opposition to the scheme but Beckham expressed a willingness to work with prospective

Beckham

opponents and NBA franchise the Miami Heat, who already inhabit the area.

“Miami is all about the water, all about the culture,” the 38-year-old, who spent five years in the MLS with LA Galaxy, said.

“I don’t think people see that enough.

“Our stadium, our site is all about the skyline, it’s all about the water - it opens up to that.

And that’s what we want people to see all around the world. It’s the most important thing for us.

Briefs Blind runner completes Antarctica Marathon

A

dventurer Hein Wagner became the first blind runner to complete the extreme Antarctic Marathon earlier this month.

Wagner finished the gruelling race with athlete Nick Kruiskamp as his guide over the rugged terrain of mud, ice and sludge.

Murray to lead Britain against Italy

A

ndy Murray will spearhead Britain’s challenge in their Davis Cup quarter-final against Italy in Naples next month after being confirmed in the squad on Tuesday.The Wimbledon champion led Britain to victory in the United States in the first round and will be key to their hopes in a first quarter-final appearance since 1986.

“It will be a good challenge playing on the clay in Italy,” Murray said of the April 4-6 tie against a home side featuring claycourt specialist Fabio Fognini.

‘England right to drop Pietersen

Pacquiao’s ready for Bradley’s strategy

evin Pietersen only has himself to blame for being axed

by England, according to former Australia captain Steve Waugh.

“He had enough strikes – three strikes and you are out. What he did when Strauss was captain was enough really for most players to never play again.

anny Pacquiao’s boxing trainer, Freddie Roach, expects Timothy Bradley to stick to the same strategy that he used against Juan Manuel Marquez.

“Since he had success boxing in his last fight, usually that carries over into the next fight. Against Marquez he boxed very well and I feel he’s gonna try to out box us.”

K

M

Putin u fitness

“

The Oly strated the leade his count

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Wednesday, March 26, 2014

Nigerian League Rendezvous

Deschamps tips Benzema to shine in Brazil

with charles Ogundiya

charlesog2001@yahoo.com, charles.ogundiya@newtelegraphonline.com

08098042287

Wolves, Enyimba match now April 9

F

rance coach Didier Deschamps believes the form of Real Madrid striker Karim Benzema bodes well for his side ahead of this summer’s World Cup. The former Lyon attacker scored twice in Real’s 4-3 Clasico defeat against Barcelona on Sunday and already has 23 goals to his name for Carlo Ancelotti’s side this season.

“Karim Benzema is in great shape for his team, even if on Sunday they were

Benzema

unhappy with their defeat,” Deschamps told RTL. “He has always had great potential. He is in a very good physical condition, is full of confidence and has regained his efficiency in front of goal.

Seedorf: No Galliani tension

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se for Atletico’s Costa fied Brazilian born Spanish international Costa as the ideal man for the job with the 25 year old having netted an impressive 23 goals in 27 La Liga starts and netted 31 in total across all competitions in 2013/14.

His form and burgeoning partnership with veteran David Villa has helped Diego Simeone’s side to mount a genuine La Liga title challenge but Atletico Madrid are well versed in the act of selling their top performers with the likes of David de Gea, Fernando Torres and Sergio Aguero leaving the Vicente Calderon in recent seasons.

R

eal Sociedad youngster, Antoine Griezmann, is set for a big money move to his native France.

Paris Saint-German are believed to have had a bid in the region of £25million accepted by the Basque club and will move to the megarich club in the summer.

Liverpool had been interested in signing the talented France international but their failure to act quickly in the market looks to have cost them once again.

Basque rivals Athletic

uses Olympics cash to start s program

P

resident Vladimir Putin launched a program to improve the physical fitness of Russians on Monday, using funds from the Winter Olympics to revive a Soviet-era plan. ympics and Paralympics have demond that we are again becoming one of ers in global sports,” Putin said, after try hosted the $50-billion games.

larence Seedorf has assured that there is no tension with Adriano Galliani, as he outlines his commitment to turning Milan’s situation around Vice-President Galliani is accompanying the 37-year-old and the squad this week on away trips to Lazio and Fiorentina, during a period of crisis for the club.

Whilst Barbara Berlusconi confirmed this week that Seedorf ’s appointment as Coach was down to Silvio Berlusconi, the Dutchman insists it doesn’t make his situa-

tion with Galliani awkward.

“There was never any tension between us, the communication between us has always been there and we move forward to do good for Milan,” began Seedorf to reporters today.

Oyo FA sets the pace

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most lucrative offer to both club and player which has wrapped up the deal quicker than anybody else.

Griezmann is almost guaranteed to be selected for the France national team squad for this summer’s World Cup after another impressive campaign in La Liga.

Dortmund battle Tottenham for Senegal star

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to depart Nigeria for the second leg of the CAF Confederation Cup with Edo FA Chairman, Chief Abel Ehigie, as head of delegation to be assisted

by Emmanuel Adesanya from the Nigeria Football Federation.

The team is made up of 18 players and 12 officials without Oghenekaro Etebo who is in Italy for trials and Captain Azubuike Egwekwe who got married last weekend.

Football action between Enyimba and Warri Wolves during the Pre-season tournament at the Abuja National Stadium, Enyimba won 2-0.

Griezmann

orussia Dortmund are the latest side to express an interest in Tottenham target Sadio Mané.

Tim Sherwood, providing he stays on as manager this summer, has outlined his transfer targets and Red Bull Salzburg sensation Mané is on his list.

The speedy Senegal star has attracted a lot of inter-

at the verge of winning the 2013 Federation Cup before a last minute goal

by Enyimba denied them victory. Revenge will be paramount in the mind of Warri Wolve.

Over the weekend, the Seasiders’ strikers fired blank in a CAF Confederation Cup match against CA Bizertin and will hope to quickly get back to scoring way.

A 30-man team of Warri Wolves is expected

Seedorf

Griezmann plans £25m PSG move Bilbao were also close to landing Griezmann. While Bilbao have a Basque-only policy, Griezmann has been living in the region for over five years, since he was 13-years old, and was therefore eligible to join.

However, according to Punto Pelota, PSG made the

M

uch anticipated replay of last season Federation Cup final between Warri Wolves and Enyimba earlier scheduled for Warri Township stadium on Wednesday, (today) will now hold on April 9.

The postponement was necessitated due to Warri Wolves second leg CAF Confederation Cup match against CA Bizertin of Tunisia.

Warri Wolves were

est over the course of the season and is expected to be on the move this summer.

Spurs hope to tie up a deal for the 21-year-old but Dortmund are now in the running as well.

T he midfielder has scored 17 goals in all competitions this season and that has alerted Jurgen Klopp.

aking a cue from Oyo State slogan ‘Pace.

Setter’, the Oyo State FA set a pace recently with the introduction of rain jacket for match ball boys inside the Lekan Salami Stadium, Adamasingba, Ibadan.

In a recent league game between the state’s Crown FC and visiting Heartland of Owerri, the ball boys were spotted by New Telegraph wearing raincoat as the heavens opened up during the game.

Also last Sunday during Crown 2-1 victory

over Dolphins of Port Harcourt, the boys were fully kitted in their kits bearing the name, ‘Oyo State Football Referee Academy’.

Speaking with New Telegraph, one of the official of the state Ministry of Sports, Mr. Gboyega Makinde, said it was a way to protect the boys during games.

“We decided to get the raincoat for the boys, as a way to protect them from the rainfall. You know they are young and needed something to keep them warm,” he said.

ABS promotion battle on course –Alloy

A

fter his team away victory over the weekend against Stationery Stores, Abubakar Bukola Saraki FC General Manager, Alloy Chukwuemeka, has said that his team push for promotion is now firmly on course.

ABS were relegated to the lower rung of Nigeria league, NNL with the official of the team promising the fans that the team would come back to the top flight immediately.

The team recorded their first away victory in Lagos, defeating Stationery Stores 1-0 on Sunday to move within one point of joint leader Abia Comets and Gabros FC in third position with 11 points from seven league matches played.

“The team’s relegation last season was painful, and the target this season was to return to the Premier League immediately,” Alloy said.

54

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Wednesday, March 26, 2014

Odemwinge begs NFF, Keshi S Ajibade Olusesan

Stewart Downing of West Ham United holding off Peter Odemwingie of Stoke City during the Barclays Premier League match on Sunday, Stoke City won 4-1.

uper Eagles striker, Osaze Odemwigie, has apologised to all concerned over his outburst with Head coach Stephen Keshi.

Keshi on Tuesday confirmed that Odemwinge had apologised to him and the Nigeria Football Federation.

The player has been excluded from the national team after he criticised the coach for dropping him from the squad to the last African Nations Cup in South Africa.

But Keshi, on Tuesday, hinted that the player could be readmitted into the Eagles fold ahead of the Brazil 2014

‘Westerhof knew I would coach Eagles’

We’re monitoring Bosnia, Iran –Keshi Vincent Eboigbe

S

uper Eagles coach Stephen Keshi has said Nigeria is effectively monitoring some of her opponents in summer’s World Cup in Brazil, specifically Bosnia and Iran.

Keshi wanted Nigerians to be rest assured that some people are taking care of the issue of scouting out opponents although he was quick to add that he doesn’t want this to be overburdened in a way that it puts the players under unnecessary pressure.

“I think that is the first thing any coach will do, have people in place to monitor opposing teams. It is a given that any teams going to a big championship like the World Cup will take that issue seriously,” Keshi assured yesterday while fielding questions at the Tom Tom Editors Roundtable in Lagos.

“We are also doing that; we are on top of it.

But it is also important that this is not overdone. Too much information could get you confused. We do have people and hopefully I will get the video of the last two friendly games that each of the countries played and we will take it from there after the video analysis.”

Several friendly matches have been lined up for the Eagles ahead of the Mundial in June.

Specifically Eagles will play Scotland, Greece and the United States before heading to Brazil, and Keshi is very happy with these matches.

He said “I’ m satisfied with the friendly games that have been lined up for the team.

Friendly matches are not necessarily to be won. They help to give you opportunity to see some of the new players and to see the tactical play you are working on, the positioning of the players and all the others things.

“If you get these things right, the results don’t really matter. Afterwards the polishing can take place before the World Cup. Our last

game is against the United States on June 6 before we leave on June 7. I’m very happy and satisfied with what I have now.””

On the injury to Leon Balogun and how players like him with dual parentage can make the Super Eagles going forward, Keshi revealed that the defender who sustained an injury during the friendly match against Mexico in Atlanta was recuperating well and likely to be back in May. “It depends on the status the players have.

Someone like Balogun never played for any junior teams in Germany so that made it easier for us to have him in Atlanta,” noted Keshi.

“But if any player had played in the junior categories we have to go through FIFA to clear the player. And that is not my job. My job is to detect a player and then tell the office (Federation) to get him. Balogun I’m happy for his improvement, he’s coming up. By the end of May he should be with us.”

Westerhof

Adekunle Salami

E

agles Head Coach, Stephen Keshi, revealed on Wednesday that former coach, Clemens Westerhof, saw the attributes of a coach in him when he was captain of the national

Keshi not losing sleep over Moses, Mikel Adekunle Salami

S

uper Eagles coach, Stephen Keshi, on Tuesday said that the bench role of some of his key players was not a problem to him.

Keshi explained that he would have loved to see them play regularly but since the reverse is the case there was nothing to be done on this issue.

Victor Moses of Liverpool and Mikel Obi of Chelsea are some of the key players in the Eagles not enjoying playing time in their clubs.

Keshi stressed that it was important for the players to keep fit always so that anytime they have the chance to play, they

after he showed remorse for his action.

“He sent an apology to the NFF, to me and included all the other people who were mentioned. We have been talking and things are good,” he said.

However, the door to Brazil may have been completely shut on Ikechukwu Uche when the coach insisted that though the Villarreal striker is a good footballer he has not proved to be a team player.

“I have no grudge against Ik Uche. He is a good player but not all good players play in the national team. The Super Eagles is a no go area for a player who is not a team player,” he said.

will give a good account of themselves.

He said, “For example, I called Moses and we discussed it and just few days after, I saw Mikel coming in just 15 minutes to the end of a game and he was very sharp.

“I am a former player and I understand their predicament. This thing can happen to anybody. It happened to me before. But truth is fitness is important.

By the time they get back to the team, we are going to knock them into the expected shape.

“Those involved now are great players and they are very important to the team. I still need them, the team needs them.”

team.

Keshi, speaking at the Tom Tom Editor’s Roundtable said Westerhof told him long ago that he would coach the Super Eagles.

He said, “He told me repeatedly that I had all it takes to lead the team in the future but then I never took him seriously.

“Maybe because of the way I coordinate my colleagues as captain that time but somehow, he saw the attributes in me and did not hide it.

“After getting the job as the Eagles coach, I saw him again and he reminded me that he said so. “ Keshi however stressed that the Dutchman has no influence on his team at the moment.

“We still talk and share ideas but he has no reason to influence me especially on selection of players. That is one issue that angers Westerhof himself and I know, so he won’t do that to anybody. He is like a mentor to him. I respect him but there is always a limit to some of these things.

“I have absolute control over what happens in the Super Eagles. I should be able to take decisions I can defend so the best way is to do so on merit.”

SPORT 55

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Wednesday, March 26, 2014

Yobo in rent mess

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landlord was horrified when he saw the state in which a penthouse flat leased in the name of Super Eagles captain, Joseph Yobo, had been left.

There were burn marks on the carpet, a dirty kitchen and bathroom, and holes in the wall left from a flat-screen television.

But the former Everton star says he has never lived in the apartment in South Ferry Quay, close to Liverpool Marina, nor even been there.

According to him, his younger brother, Gideon, paid the rent.

He said: “It’s my name on the lease, but I never lived at

Yobo

Sport Trending

TWITTER |@NTelegraphSport

the flat and I’ve never even been there.

“The landlord doesn’t know me and he hasn’t spoken to Gideon about this. I have property too and the landlord should have gone to the letting agents if he was unhappy.

“If he puts in a full inventory, Gideon is ready to pay for anything that is damaged.”

Landlord Ray Smith says he was shocked by what he found when he went to inspect it.

He said; “The state it’s been left in is just unbelievable. There’s bond money of £1,500, but by the look of it it will need £5,000 to put all the damage right and I will have to call in industrial cleaners.“There are iron marks on the floor, as if left by ironing, and holes in the wall left by flat-screen TVs.”

Para athletes motivated to succeed –Kasumu C O N T I N U E D F R O M PA G E 5 1 whether there is a com-

from the government which has opened the eyes of others to the fact that they can become someone in life,” he said.

Ahead of the Commonwealth Games, holding in Scotland later in the year, Kasumu said; “I know para sports will do the country proud once again. As para sports athletes, the only thing they do is train and train all the time.

“The athletes always have a set target which they want to achieve. So

petition or not, all they want to do is achieve their target.

“I am a physically challenged someone too. I was once an athlete and I am now a coach.

We have been coping with the belief that in any situation we find ourselves, we glorify God. We also make sure that what the able bodied athletes can do, we can do it better. That is why a para person will always have a goal he or she wants to achieve to get above the muddy waters.”

Keshi to defend World Cup list next week

Godwin Dudu-Orumen How does Keshi plan to tell fiancée from girlfriend? @Dudu_Orumen Leon Balogun Good morning - it’s a good day to have a good day!! @LeonBalogun Emanuel Ebouee Thanks Mikel Arteta for apologising for Saturday shameful defeat against that Russian owned asset in the city of London. @TheRealEbouee Romelu Lukaku 9 To 5 is how you survive. I ain’t tryna survive I’m trying to live it to the limit and love it a lot! @RomeluLukaku9 Michael Essien Pray for your enemies and embrace your lovers. @MichaelEssien David De Gea Next time you can have a shot from my own goal. lManchester United goalkeeper, David De Gea, to teammate Wayne Rooney after the latter’s wonder goal against West Ham United. @D_DeGea Lennox Lewis It’s easy to take for granted the things we should appreciate the most. The hard part is recognizing it. @LennoxLewis Kim Clijsters Definition of TEAM : Together Everyone Achieves More! @Clijsterskim Samuel Eto’o Should we do a Q/A meeting between you guys and I soon?

Want to know more about my fans. I will be asking the question this time lol! @setoo9 Mark Cavendish Up early for anti-doping control this morning. So went to the supermarket at 8am. Loved it. Warm bread, neat shelves, no people. @MarkCavendish

Green

Jude Opara Abuja

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igeria Football Federation board member, Chris Green, has revealed that Nigeria’s coach Stephen Keshi will defend his 35-man provisional list for the World Cup next week.

Green who is the chairman of the NFF’s Technical Committee stated that Keshi will appear before his Committee to defend his choice of players included in the country’s provisional list for the 2014 World Cup taking place in Brazil.

He however assured that the Committee will not attempt to impose any player on the 52-year-old former coach of Togo and Mali.

“While we believe that only players that are playing well for their clubs should be invited because the World Cup is not a tea party, our job is a simple task.”

Keshi: No player can bribe C O N T I N U E D F R O M PA G E 5 1

have bribery in football but I cannot do such. I am okay. I know some people are being used by players to try and bribe coaches for places in the team but I won’t be part of such thing.

“This is why I maintain my stand on some of the crucial issues in the team. I look at issues critically and think about what is best for Nige-

ria. I have my personal target in this team. I am working hard to get the best result for the country and I expect the players to follow the template “For example, a lot of people have said many things about Ik Uche but truth is he is not a team player and that’s not good for us. We need a united bunch of players to fight against others teams,” Keshi

Ogan Opuda in jersey No 17 of Royal Hoppers going for a dunk against Islanders during the 2014 Nigeria DStv Premier Male Basketball League held at the Indoor Sports Hall of National Stadium, Surulere, Lagos at the weekend.

Oshiomole lead first Edo walk for life Charles Ogundiya

T

he maiden edition of Edo State Walk for Life programme organized by the Ministry of Youths, Sports and Social Mobiliza-

tion will hold this Friday, March 28th, at Samuel Ogbemudia Stadium, Benin City.

Comrade Governor Adams Oshiomhole will declare the event open by 8am as all government officials, appointees, functionaries will be joined by sports men and women, traders, mechanics, artisans, transporters for the over ten kilometers race.

Addressing pressmen on Monday, the Commissioner for sports, Chris Okaeben, advised the participant to retire at any point their strength can no longer take it as it is not compulsory to finish the race with the gov-

Gov. Oshiomole

ernor.

Okaeben stated further that adequate measures have been put in place by the ministry to liaise with all the security operatives in providing security for the participants, while two ambulances have been acquired to attend to any case of casualties in which they did not pray for.

World Record

On Marble Logical consequences are the scarecrows of fools and the beacons of wise men.

– Thomas Huxley

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 WEDNESday, MARCH 26, 2014

The thickest published book measures 322 mm in width and was unveiled by HarperCollins in London on May 20, 2009.

N150

State concessioning, unemployment bomb and imminent ‘Nigerian Spring’

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bout 54 years of political independence and 100 years of forced amalgamation, Nigeria is on a quick march down the slide, owing to its own internal contradictions. While celebrating Nigeria’s centenary, President Goodluck Jonathan gave National Honours even to those that presided over patently roguish regimes.

The celebration itself, the largest gathering of Nigerian ruling elite, (the group completely responsible for the tragedy of the Nigerian state) since 1960, took place amidst the blood chilling scenes in the North East and North Central parts of Nigeria was an exercise in thoughtlessness. Side by side, the centenary celebration was the convening of another circus show or merry go-round – the National Conference in Abuja, this time against the backdrop of monumental tragedy which left about 20 young promising Nigerians dead – hundreds of others wounded and scars of different proportions.

The terrible and unfortunate event that took the lives of these youngsters was the Kangaroo interview/tests tor applicants into the Nigerian Immigration Service (NIS). The interview was put together, not by the Board and Management of NIS, but by the Minister of Interior, Mr. Abba Moro, a protégé of the Senate President, David Mark.

Perhaps for pecuniary reasons and mercantilism, the Minister of Interior usurped the functions of the Board, enlisted the services of a phoney consultant that demonstrated its incompetence and lack of diligence by the sheer chaotic nature of the ill-fated interview.

Elementary consultants would have known that assembling seventy-five thousand youth in one venue for physical tests and written interview would be a recipe for disaster. It is clear from the organization and setting that no credible result would be achieved. None was intended.

The NIS interview all over the nation was a deceptive, heartless and immoral arrangement. It was a smokescreen to primitively accumulate wealth, even on the blood of Nigerians.

Not showing any remorse, Minister Abba Moro has presented a cocktail of lies, and even asserted that he will not resign, rather he will set up an investigation, Funny. A Judge in a case in which Nigerians finger Moro as the main culprit.

But this is Nigeria – a land of the absurd, where God sons and God daughters are rewarded with ministerial and other

IvoryGlory Nkemdili Nnonyelu

aunnonyelu@yahoo.co.uk - 08122801926

juicy positions even as the cascading of mediocrity continues unabated. In other societies, Mr. Moro would have stepped down since, or be sacked with ignominy.

Impunity, corruption characterizes governance in Nigeria. Paradoxically, Nigeria is rich yet majority of its citizens are poor. Nigerians wallow in abject poverty, with more than 90 million Nigerian youths urgently looking for jobs.

The coalition of the ruling elite swagger in opulence and ostentatious life styles.

From Oduah gate through Moro gate to Diezani gate, the story is the same, a callous indifference to the plight of the less privileged Nigerians. Nigerian state is a wealth mine of sorts, where proximity to the source of power gives you unmerited advantages. Those who know those who have any connection to those in government in Nigeria are like the chosen few.

This is what the Igbo call Ima mmadu (knowing somebody powerful). They need not do any other thing, aside from taking their briefcases around from one ministry to the other. They become billionaires over night. Contracts are not awarded on the basis of merit, integrity or proposals.

Nigeria’s post colonial political economy has been contrived in such a way that only those who run the state apparatus, their kith, and kin, benefit from the system, while other Nigerians scramble for the crumbs. The centrality and abuse of the state in resource allocation explains the acrimonious character of political competition in Nigeria. The concessioning of the Nigerian state by successive ruling regimes to their families and cronies is proceeding apace. In the Ministries, Departments and Agencies (MDAs) jobs are advertised merely for the sake of it, as those to be awarded the usually overpriced projects are parliamentarians or their representatives, ministers, permanent secretaries, directors and their agents. Where vacancies exist for employment, the same scenario plays itself out, as those to be offered the jobs are known, well in advance. Performance during the

interview stage is immaterial, clearly irrelevant.

The privatization of the state is also clearly evident in the arbitrary manner in which political positions are allocated.

In Enugu State, Sullivan Chime is engaged in a battle with Ike Ekweremadu, on who takes over the Enugu Senatorial Seat. In Akwa Ibom, Godswill Akpabio is already fighting will Aloysus Etuk over the Senatorial Seat, same with Governor Suswan, as if the country has been shared amongst them. The desperation cannot be for service, far from it, but to continue the chop and chop politics that Nigeria has come to be associated, with.

In all states of the federation elections into local councils have been anything but elections. The governors using the state Electoral Commissions have violated the common rules about election, imposing their candidates, non-descript charlatans as chairmen and councillors.

This is why the country is still under quasi civil rule, not democracy.

Expression of interest form by political parties for different (s)elective positions are given out to the select few at the cost of five to twenty million naira, effectively shutting the door to innocent, patriotic Nigerians, who may have an interest to serve. Even the so called opposition parties are as guilty as the ruling party. Those who mean well for the country do not have the resources to compete, as those who have the resources have exploited their connections in the Nigerian state, used the state to further their nests and become materially broad shouldered. Majority of Nigerians remain in the periphery as onlookers, watching sorrowfully as their common patrimony is looted. In this way, Nigeria has banished creativity, and stifled entrepreneurship. Do not mind about the YOUWIN and SURE-P Programmes. These neo-liberal policies driven by multi-lateral institutions and agencies are inimical to any serious developmental efforts. But that has never been the concern of the elite.

What however is clear from the serial misgovernance of the country is the creation of a large pool of unemployed people, tens of millions who are desirous of finding jobs, and actively seeking to have a means of livelihood, to put bread on their tables. Indeed their immediate worry is survival. Although this army of unemployed bury their anger, appear complacent and remain hopeful, following the counsel of several prayer warriors and marabouts that inundate the land, the agonizing objective material conditions may not allow this to continue for too long.

The large number of unemployed in Nigeria is a ticking time bomb that needs to be immediately defused.

The managers of the Nigerian state, may be deluding themselves that the recent experience of the Arab World is not our portion, and cannot happen in Nigeria. Nigerian leaders should not stretch their luck too far. The same way that Nigerians mistakenly believed that suicide bombings cannot be perpetrated by Nigerians in Nigeria. Much to our chagrin and discomfort, it has entered our shores, and even blossoming. Similar historical experiences, and deterioration of living standards of the populace, same objective material and social conditions with comparable degree of despondency, hopelessness and despair in the Arab region, provided the instrument that caused the uprising in the Arab World. From Tunisia, to Egypt, Libya, Syria, people’s power is on display.

OmoBaba

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- Is it about 2015?

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